Table 2: Monthly balance of payments of the euro area ( 1 )
(EUR billions; non−seasonally adjusted data)
| February 2005 | January 2005 (revised) | Monthly average, previous six months | 12-month cumulated figures ending | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| August 2004 - January 2005 | February 2005 | February 2004 | |||||||||||||
| 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 | 147.4 | 139.4 | 8.0 | 150.2 | 157.5 | -7.2 | 154.0 | 152.3 | 1.7 | 1838.8 | 1801.0 | 37.8 | 1679.4 | 1652.1 | 27.3 |
| Goods | 91.0 | 84.9 | 6.1 | 87.3 | 87.0 | 0.2 | 94.6 | 89.4 | 5.2 | 1141.6 | 1046.0 | 95.6 | 1039.9 | 932.4 | 107.5 |
| Services | 25.7 | 25.1 | 0.6 | 26.5 | 26.0 | 0.5 | 30.2 | 28.3 | 2.0 | 357.7 | 329.8 | 27.9 | 330.3 | 310.3 | 20.0 |
| Income | 22.9 | 19.5 | 3.4 | 18.9 | 23.6 | -4.7 | 21.5 | 22.2 | -0.7 | 258.2 | 285.9 | -27.7 | 229.2 | 270.9 | -41.7 |
| Current transfers | 7.7 | 9.9 | -2.2 | 17.6 | 20.8 | -3.2 | 7.7 | 12.5 | -4.8 | 81.3 | 139.3 | -58.0 | 79.9 | 138.5 | -58.5 |
| CAPITAL ACCOUNT | 1.5 | 0.4 | 1.1 | 1.6 | 2.4 | -0.8 | 2.1 | 0.8 | 1.3 | 23.0 | 7.8 | 15.2 | 22.4 | 8.1 | 14.3 |
| Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | |
| FINANCIALACCOUNT2) | 21.6 | 25.9 | 8.5 | 62.9 | 3.6 | ||||||||||
| DIRECTINVESTMENT3) | -6.3 | 1.7 | -4.6 | -11.2 | -0.2 | -11.4 | -8.9 | 6.0 | -2.8 | -117.3 | 54.0 | -63.3 | -128.2 | 112.4 | -15.8 |
| Equity capital and reinvested earnings | -3.8 | 2.9 | -0.9 | -7.0 | 3.4 | -3.7 | -11.2 | 6.3 | -5.0 | -125.5 | 63.9 | -61.5 | -105.5 | 118.7 | 13.3 |
| Other capital (mostly inter-company loans) | -2.5 | -1.2 | -3.7 | -4.2 | -3.6 | -7.7 | 2.4 | -0.2 | 2.2 | 8.2 | -10.0 | -1.8 | -22.8 | -6.3 | -29.1 |
| PORTFOLIO INVESTMENT | -24.3 | 46.9 | 22.6 | -53.1 | 36.0 | -17.1 | -24.6 | 33.6 | 9.0 | -290.8 | 352.6 | 61.8 | -302.6 | 361.7 | 59.0 |
| Equity | -19.5 | 5.2 | -14.3 | -15.9 | 10.0 | -5.9 | -5.5 | 17.5 | 11.9 | -88.9 | 118.0 | 29.1 | -91.3 | 114.7 | 23.4 |
| Debt instruments | -4.8 | 41.7 | 36.9 | -37.2 | 26.0 | -11.2 | -19.1 | 16.1 | -3.0 | -201.9 | 234.5 | 32.7 | -211.4 | 247.0 | 35.7 |
| Bonds and notes | -20.0 | 39.4 | 19.4 | -29.2 | 5.5 | -23.7 | -15.7 | 14.4 | -1.3 | -177.6 | 211.9 | 34.2 | -168.4 | 206.7 | 38.3 |
| Money market instruments | 15.2 | 2.4 | 17.5 | -7.9 | 20.5 | 12.6 | -3.4 | 1.7 | -1.7 | -24.2 | 22.7 | -1.5 | -43.0 | 40.3 | -2.7 |
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | -30.6 | 48.6 | 18.0 | -64.3 | 35.8 | -28.5 | -33.5 | 39.6 | 6.2 | -408.0 | 406.6 | -1.5 | -430.8 | 474.1 | 43.2 |
| FINANCIAL DERIVATIVES (NET) | -0.4 | -3.8 | -1.8 | -9.3 | -7.5 | ||||||||||
| OTHER INVESTMENT | -60.2 | 59.2 | -1.0 | -50.9 | 110.5 | 59.7 | -33.4 | 36.8 | 3.4 | -305.3 | 368.6 | 63.3 | -234.3 | 173.6 | -60.7 |
| Eurosystem | 0.2 | -3.5 | -3.3 | 0.7 | 3.9 | 4.6 | 0.2 | 1.6 | 1.7 | 2.1 | 9.5 | 11.6 | -1.5 | 9.9 | 8.4 |
| General government | -1.5 | -4.2 | -5.7 | -1.3 | 2.6 | 1.3 | 0.5 | 0.6 | 1.0 | -4.7 | 0.4 | -4.4 | 5.5 | -0.2 | 5.3 |
| of which: currency and deposits | 0.6 | 0.6 | -1.0 | -1.0 | 0.5 | 0.5 | -2.3 | -2.3 | |||||||
| MFIs (excluding the Eurosystem) | -58.0 | 60.0 | 2.0 | -33.9 | 97.7 | 63.8 | -29.8 | 29.4 | -0.4 | -265.4 | 311.2 | 45.8 | -185.6 | 170.6 | -15.0 |
| long-term | -10.2 | 2.7 | -7.5 | -15.1 | 16.6 | 1.5 | -4.2 | 3.0 | -1.2 | -38.4 | 16.3 | -22.1 | -56.3 | 55.8 | -0.6 |
| short-term | -47.8 | 57.2 | 9.5 | -18.8 | 81.1 | 62.3 | -25.5 | 26.4 | 0.8 | -227.0 | 294.9 | 67.9 | -129.3 | 114.8 | -14.5 |
| Other sectors | -1.0 | 6.9 | 6.0 | -16.4 | 6.3 | -10.0 | -4.2 | 5.3 | 1.0 | -37.2 | 47.5 | 10.3 | -52.7 | -6.7 | -59.4 |
| of which: currency and deposits | 4.9 | 4.9 | -13.4 | -13.4 | -2.7 | -2.7 | -7.8 | -7.8 | |||||||
| RESERVE ASSETS | 5.0 | 5.0 | -1.6 | -1.6 | 0.7 | 0.7 | 10.3 | 10.3 | 28.6 | 28.6 | |||||
| Errors and omissions | -30.7 | -17.8 | -11.5 | -115.9 | -45.2 | ||||||||||