Table 2: Monthly balance of payments of the euro area ( 1 )
(EUR billions; non−seasonally adjusted data)
| June 2004 | May 2004 (revised) | Monthly average, previous six months | 12-month cumulated figures ending | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| December 2003 - May 2004 | June 2004 | June 2003 | |||||||||||||
| Credit | Debit | Net | Credit | Debit | Net | 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. | |||||||||||||||
| CURRENTACCOUNT | 157.2 | 152.7 | 4.5 | 143.8 | 140.4 | 3.4 | 144.2 | 140.4 | 3.8 | 1717.6 | 1667.2 | 50.3 | 1688.1 | 1650.4 | 37.7 |
| Goods | 99.7 | 87.8 | 11.9 | 92.4 | 81.2 | 11.2 | 89.8 | 80.1 | 9.8 | 1079.8 | 950.4 | 129.4 | 1046.3 | 931.1 | 115.2 |
| Services | 29.7 | 27.3 | 2.4 | 28.7 | 25.1 | 3.7 | 26.5 | 26.0 | 0.6 | 330.3 | 318.3 | 12.0 | 329.4 | 310.5 | 18.8 |
| Income | 22.6 | 25.3 | -2.8 | 17.6 | 23.4 | -5.8 | 19.4 | 22.6 | -3.2 | 226.4 | 261.3 | -34.9 | 227.3 | 274.1 | -46.8 |
| Current transfers | 5.2 | 12.3 | -7.1 | 5.0 | 10.7 | -5.7 | 8.4 | 11.7 | -3.3 | 81.0 | 137.3 | -56.3 | 85.1 | 134.7 | -49.6 |
| CAPITAL ACCOUNT | 1.3 | 0.5 | 0.8 | 2.7 | 0.3 | 2.3 | 2.5 | 0.6 | 1.8 | 23.5 | 6.6 | 16.9 | 19.2 | 11.4 | 7.8 |
| Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | |
| FINANCIALACCOUNT2) | 1.1; | -7.1 | -7.7 | -32.7 | -136.1 | ||||||||||
| DIRECTINVESTMENT3) | -11.6 | 2.8 | -8.9 | -1.0 | -0.6 | -1.6 | -8.6 | 2.3 | -6.3 | -105.8 | 34.8 | -71.0 | -127.9 | 144.4 | 16.5 |
| Equity capital and reinvested earnings | -12.9 | 3.2 | -9.7 | -7.4 | 3.6 | -3.8 | -7.8 | 5.2 | -2.7 | -96.0 | 61.1 | -34.9 | -106.7 | 119.2 | 12.5 |
| Other capital (mostly inter-company loans) | 1.3 | -0.4 | 0.9 | 6.4 | -4.2 | 2.2 | -0.8 | -2.9 | -3.6 | -9.8 | -26.3 | -36.1 | -21.2 | 25.2 | 4.0 |
| PORTFOLIO INVESTMENT | -12.4 | 41.9 | 29.5 | -18.7 | -5.2 | -24.0 | -24.8 | 16.7 | -8.1 | -278.5 | 237.7 | -40.9 | -212.6 | 338.1 | 125.4 |
| Equity | -14.8 | 14.9 | 0.1 | -4.5 | -0.2 | -4.7 | -7.7 | 3.2 | -4.5 | -98.8 | 92.6 | -6.2 | -17.8 | 51.5 | 33.8 |
| Debt instruments | 2.4 | 27.0 | 29.4 | -14.2 | -5.0 | -19.2 | -17.1 | 13.5 | -3.6 | -179.7 | 145.1 | -34.6 | -194.9 | 286.6 | 91.7 |
| Bonds and notes | -5.2 | 25.1 | 19.8 | -16.7 | 12.6 | -4.1 | -11.7 | 14.7 | 2.9 | -139.6 | 145.1 | 5.5 | -149.6 | 213.6 | 64.0 |
| Money market instruments | 7.6 | 2.0 | 9.6 | 2.4 | -17.6 | -15.1 | -5.4 | -1.2 | -6.6 | -40.1 | -0.0 | -40.2 | -45.3 | 72.9 | 27.7 |
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | -24.1 | 44.7 | 20.6 | -19.7 | -5.8 | -25.6 | -33.4 | 19.0 | -14.4 | -384.3 | 272.4 | -111.9 | -340.6 | 482.4 | 141.9 |
| FINANCIAL DERIVATIVES (NET) | 0.1 | -1.6 | -0.3 | -4.0 | -16.7 | ||||||||||
| OTHER INVESTMENT | 20.6 | -39.1 | -18.5 | 13.3 | 6.0 | 19.3 | -34.8 | 39.3 | 4.5 | -183.5 | 244.7 | 61.2 | -417.0 | 147.4 | -269.6 |
| Eurosystem | -0.0 | 1.4 | 1.3 | -0.1 | -0.0 | -0.2 | -0.2 | 0.1 | -0.1 | -0.7 | 5.9 | 5.2 | -0.6 | 16.7 | 16.1 |
| General government | -3.4 | 1.5 | -1.9 | 0.2 | 0.5 | 0.7 | -0.1 | -1.7 | -1.8 | -2.0 | -3.8 | -5.9 | -3.9 | -8.2 | -12.1 |
| of which: currency and deposits | -3.3 | -3.3 | 0.3 | 0.3 | |||||||||||
| MFIs (excluding the Eurosystem) | 27.8 | -40.3 | -12.4 | 16.4 | 10.8 | 27.1 | -32.0 | 37.5 | 5.6 | -151.8 | 231.5 | 79.7 | -291.5 | 101.2 | -190.3 |
| long-term | -1.8 | 2.2 | 0.4 | 1.9 | 2.8 | 4.7 | -5.3 | 2.3 | -2.9 | -57.7 | 40.5 | -17.2 | -50.6 | 43.9 | -6.7 |
| short-term | 29.6 | -42.5 | -12.8 | 14.5 | 7.9 | 22.4 | -26.7 | 35.2 | 8.5 | -94.1 | 191.0 | 96.9 | -240.9 | 57.3 | -183.6 |
| Other sectors | -3.8 | -1.7 | -5.5 | -3.1 | -5.2 | -8.3 | -2.6 | 3.4 | 0.8 | -29.1 | 11.2 | -17.8 | -121.1 | 37.7 | -83.4 |
| of which: currency and deposits | -0.8 | -0.8 | 3.9 | 3.9 | |||||||||||
| RESERVE ASSETS | -1.1 | -1.1 | 0.7 | 0.7 | 2.4 | 2.4 | 21.9 | 21.9 | 8.3 | 8.3 | |||||
| Errors and omissions | -6.4 | 1.4 | 2.0 | -34.5 | 90.7 | ||||||||||