Table 2: Balance of payments of the euro area ( 1 )
(EUR billions)
| 1999 Q3 | 2000 Q2 | 2000 Q3 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net | |||
| Source: ECB. | |||||||||||
| ( 1 ) Figures may not add up due to rounding. | |||||||||||
| ( 2 ) Financial account: inflows (+); outflows (-). Reserve assets: increase (-); decrease (+). | |||||||||||
| ( 3 ) Direct investment: assets refer to direct investment abroad and liabilities to direct investment in the euro area. | |||||||||||
| CURRENT ACCOUNT | 331.0 | 333.8 | −2.8 | 387.7 | 394.3 | −6.6 | 391.5 | 397.6 | −6.1 | ||
| Goods | 205.4 | 182.2 | 23.2 | 239.0 | 224.3 | 14.7 | 244.6 | 226.7 | 17.9 | ||
| Services | 64.3 | 67.2 | −2.9 | 66.8 | 68.3 | −1.4 | 70.7 | 73.2 | −2.5 | ||
| Income | 48.6 | 56.7 | −8.1 | 66.9 | 73.2 | −6.3 | 64.2 | 71.3 | −7.1 | ||
| Compensation of employees | 3.1 | 1.4 | 1.7 | 3.0 | 1.4 | 1.6 | 3.1 | 1.4 | 1.7 | ||
| Investment income | 45.5 | 55.2 | −9.7 | 64.0 | 71.9 | −7.9 | 61.1 | 69.9 | −8.7 | ||
| Direct investment | 8.9 | 10.1 | −1.3 | 19.2 | 13.8 | 5.4 | 15.4 | 15.1 | 0.3 | ||
| Income on equity | 7.4 | 9.2 | −1.7 | 16.9 | 12.2 | 4.7 | 13.2 | 13.1 | 0.1 | ||
| Income on debt | 1.5 | 1.0 | 0.5 | 2.3 | 1.6 | 0.7 | 2.2 | 2.0 | 0.2 | ||
| Portfolio investment | 15.5 | 24.5 | −9.0 | 17.2 | 30.8 | −13.6 | 17.7 | 26.6 | −8.9 | ||
| Income on equity | 2.4 | 6.4 | −4.0 | 3.5 | 17.2 | −13.7 | 3.1 | 7.9 | −4.8 | ||
| Income on debt | 13.1 | 18.0 | −4.9 | 13.7 | 13.5 | 0.1 | 14.6 | 18.7 | −4.1 | ||
| Bonds and notes | 12.6 | 17.6 | −5.1 | −1.4 | −5.8 | ||||||
| Money market instruments | 0.5 | 0.4 | 0.1 | 1.6 | 1.7 | ||||||
| Other investment | 21.2 | 20.6 | 0.5 | 27.6 | 27.3 | 0.3 | 28.1 | 28.3 | −0.1 | ||
| Current transfers | 12.8 | 27.8 | −15.0 | 14.9 | 28.4 | −13.5 | 11.9 | 26.4 | −14.4 | ||
| CAPITAL ACCOUNT | 3.2 | 1.6 | 1.6 | 4.7 | 2.4 | 2.4 | 4.3 | 2.7 | 1.6 | ||
| Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | |||
| FINANCIAL ACCOUNT ( 2 ) | −1.4 | −2.9 | −14.0 | ||||||||
| DIRECT INVESTMENT ( 3 ) | −30.5 | 18.2 | −12.2 | −71.9 | 53.7 | −18.2 | −117.9 | 23.7 | −94.3 | ||
| Equity capital and reinvested earnings | −33.2 | 12.5 | −20.7 | −44.8 | 19.3 | −25.5 | −111.7 | 15.5 | −96.2 | ||
| Other capital, mostly intercompany loans | 2.8 | 5.7 | 8.5 | −27.1 | 34.5 | 7.4 | −6.2 | 8.2 | 2.0 | ||
| PORTFOLIO INVESTMENT | −60.1 | 81.8 | 21.7 | −85.2 | 137.0 | 51.9 | −91.8 | 95.3 | 3.5 | ||
| Equity | −34.6 | 29.4 | −5.3 | −54.3 | 52.4 | −1.9 | −56.1 | 29.7 | −26.4 | ||
| Eurosystem | −0.0 | 0.0 | −0.1 | ||||||||
| General government | −0.5 | −0.7 | −0.4 | ||||||||
| MFIs (excluding the Eurosystem) | 0.5 | 1.5 | −2.8 | ||||||||
| Other sectors | −34.6 | −55.1 | −52.8 | ||||||||
| Debt instruments | −25.4 | 52.5 | 27.0 | −30.9 | 84.6 | 53.7 | −35.7 | 65.6 | 29.9 | ||
| Bonds and notes | −25.8 | 42.1 | 16.2 | −24.6 | 50.7 | 26.1 | −30.8 | 73.6 | 42.8 | ||
| Eurosystem | −0.3 | 0.6 | −2.3 | ||||||||
| General government | −0.6 | −0.7 | −0.4 | ||||||||
| MFIs (excluding the Eurosystem) | −0.7 | −7.7 | −19.4 | ||||||||
| Other sectors | −24.3 | −16.8 | −8.8 | ||||||||
| Money market instruments | 0.4 | 10.4 | 10.8 | −6.3 | 33.9 | 27.6 | −4.9 | −8.1 | −13.0 | ||
| Eurosystem | −1.0 | −0.0 | 0.5 | ||||||||
| General government | −0.2 | −0.0 | −1.3 | ||||||||
| MFIs (excluding the Eurosystem) | −0.9 | 1.3 | −1.0 | ||||||||
| Other sectors | 2.5 | −7.5 | −3.1 | ||||||||
| FINANCIAL DERIVATIVES (NET) | 6.5 | 4.8 | 0.4 | ||||||||
| OTHER INVESTMENT | −27.5 | 10.0 | −17.4 | −29.6 | −15.7 | −45.3 | −29.5 | 101.4 | 71.9 | ||
| Eurosystem | −3.3 | 0.4 | −2.9 | −0.3 | 3.3 | 3.1 | −0.3 | −1.4 | −1.7 | ||
| Loans/currency and deposits | −3.2 | 0.3 | −2.9 | −0.0 | 3.1 | 3.0 | −0.3 | −1.5 | −1.8 | ||
| Other assets/liabilities | −0.1 | 0.1 | 0.0 | −0.2 | 0.2 | 0.0 | −0.1 | 0.1 | 0.0 | ||
| General government | 1.2 | −2.1 | −0.9 | 1.0 | −0.3 | 0.7 | −4.0 | 1.4 | −2.5 | ||
| Trade credits | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||
| Loans/currency and deposits | 1.2 | −2.1 | −0.8 | 1.2 | −0.5 | 0.7 | −4.0 | 0.6 | −3.4 | ||
| Other assets/liabilities | −0.1 | −0.0 | −0.1 | −0.2 | 0.2 | −0.0 | 0.0 | 0.8 | 0.8 | ||
| MFIs (excluding the Eurosystem) | −7.6 | 12.1 | 4.6 | −21.1 | −20.7 | −41.8 | −14.3 | 72.3 | 58.1 | ||
| Loans/currency and deposits | −6.7 | 11.3 | 4.6 | −22.3 | −21.5 | −43.8 | −12.8 | 72.2 | 59.4 | ||
| Other assets/liabilities | −0.9 | 0.9 | −0.0 | 1.2 | 0.8 | 2.0 | −1.4 | 0.1 | −1.3 | ||
| Other sectors | −17.7 | −0.4 | −18.2 | −9.3 | 2.0 | −7.3 | −11.0 | 29.0 | 18.1 | ||
| Trade credits | −1.6 | −0.1 | −1.7 | −3.9 | 0.3 | −3.6 | −2.1 | 2.1 | 0.0 | ||
| Loans/currency and deposits | −12.6 | −2.0 | −14.6 | −5.3 | 2.8 | −2.5 | −8.0 | 27.1 | 19.1 | ||
| Other assets/liabilities | −3.5 | 1.7 | −1.8 | −0.1 | −1.0 | −1.1 | −0.9 | −0.2 | −1.1 | ||
| RESERVE ASSETS | −0.0 | −0.0 | 3.8 | 3.8 | 4.5 | 4.5 | |||||
| Monetary gold | 0.0 | 0.0 | 0.0 | 0.0 | 0.3 | 0.3 | |||||
| Special drawing rights | 0.2 | 0.2 | −0.1 | −0.1 | −0.1 | −0.1 | |||||
| Reserve position in the IMF | 1.9 | 1.9 | 3.3 | 3.3 | −0.0 | −0.0 | |||||
| Foreign exchange | −2.4 | −2.4 | 0.7 | 0.7 | 4.3 | 4.3 | |||||
| Currency and deposits | 1.4 | 1.4 | −0.7 | −0.7 | 6.3 | 6.3 | |||||
| with monetary authorities and the BIS | 4.2 | 4.2 | −0.9 | −0.9 | 1.5 | 1.5 | |||||
| with banks | −2.8 | −2.8 | 0.2 | 0.2 | 4.8 | 4.8 | |||||
| Securities | −3.7 | −3.7 | 1.6 | 1.6 | −1.9 | −1.9 | |||||
| Equity | 0.2 | 0.2 | 0.0 | 0.0 | 0.0 | 0.0 | |||||
| Bonds and notes | −3.4 | −3.4 | −3.7 | −3.7 | −5.4 | −5.4 | |||||
| Money market instruments | −0.6 | −0.6 | 5.3 | 5.3 | 3.5 | 3.5 | |||||
| Financial derivatives | −0.0 | −0.0 | −0.2 | −0.2 | −0.1 | −0.1 | |||||
| Other claims | 0.3 | 0.3 | −0.1 | −0.1 | −0.0 | −0.0 | |||||
| ERRORS AND OMISSIONS | 2.6 | 7.2 | 18.5 | ||||||||