Assets in the euro area FVC sector expanded by €19.1bn (0.9%) in Q3-2019 to reach €2,046bn, held through 4,301 FVCs.
Irish FVCs drove 59.9% of this growth during Q3 in nominal terms (11.4/19.1), however this effect is inflated by the fact that several countries saw their FVC sector shrink during the quarter which reduced the amount of overall increase.
Irish growth of €11.4bn was by far the largest in the euro area during Q3, followed in second place by Italy (€6.7bn), France (€5.9bn) and Luxembourg (€4.3bn).
The Dutch FVC sector contracted by -€3.7bn during the quarter, along with Spain (-€2.0bn), Germany (-€1.3bn) and Portugal (-€1.2bn).
In terms of vehicle numbers, Luxembourg comes out on top with 1,246 while Ireland is ranked second with 1,138. Luxembourg FVCs tend to be much smaller than Irish FVCs, which leads to a smaller sector in asset terms.
The next largest country in vehicle terms is Italy with 740 FVCs, while France has 404 FVCs, the Netherlands has 364 FVCs and Spain has 287 FVCs.
Luxembourg saw the largest number of new vehicles during the quarter with 78 new FVCs. Comparatively, there were 22 new Irish FVCs.