Premier League clubs were the biggest spenders in the international transfer market in 2013, with La Liga the biggest net earners.
English clubs, plus Swansea and Cardiff, spent £660million on overseas transfers last year - a huge rise of 51 per cent from 2012 - and of that £50m went to agents.
The figures - revealed in the Global Transfer Market 2014 report, published by FIFA - only include international transfers between different countries.
Italian clubs were the next biggest spenders - though the £286m they spent is some way behind the Premier League, whose clubs knew they had a large increase in television money coming their way.
The Italian sum represents an extraordinary increase of 120% on the 2012 figure, and comes despite widespread reports of increasing debt in Serie A.
France (£253m), Spain (£192m) and Germany (£144million) were the next biggest spenders.
Spanish clubs were the biggest net earners for transfers, with £150m - many La Liga clubs tried to cut their debts last year so that comes as no surprise - and they were followed by Italy, Brazil, Portugal and England.
Brazil had the most number of players moving, with 236 players moving to and from the county.
The report states that there were a total of 12,309 international transfers in 2013, 4% more than in 2012
But just 10 per cent of all transfers involved any kind of fee - 90 per cent were free transfers.
There was a significant increase in so-called conditional transfers, where part of the fee is fixed and the rest is performance-based. Fees from such transfers leapt 73 percent from 2012.
FIFA's new transfers matching system (TMS) aims to provide a clearing house for all international transfers, with clubs having to register agents involved plus any fees and add-ons.
Mark Goddard, general manager of the TMS, said the big rise in conditional transfers could be significant.
"It is a very interesting trend because the market is becoming more astute, a lot of the transfers are based on either potential performance or past performance, if the players are older," he said.
"Conditions can be represented by a number of performance factors such as qualification for competitions, relegation, or the players' performance on an individual level.
"Clubs are hedging their bets, trying to be more sensible in how much money they put into the guaranteed section and into the potential section (of the fee)."