Table 2: Monthly balance of payments of the euro area

(EUR billions unless otherwise indicated; transactions; non-working day and non-seasonally adjusted data)

	Cumulated figures for the 12-month period ending						December 2017			January 2018
	January 2017			January 2018
		Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit
	Source: ECB.
	1) Financial account: increases in assets and liabilities (+) and decreases in assets and liabilities (-).
	CURRENT ACCOUNT	357.4	3,712.4	3,355.0	405.0	3,901.6	3,496.6	46.8	347.2	300.4	12.8	304.2	291.4
	Goods	369.3	2,149.1	1,779.8	349.8	2,286.5	1,936.8	30.3	184.1	153.8	9.4	184.0	174.6
	Services	34.9	788.2	753.3	87.4	838.7	751.3	8.1	78.0	69.9	5.7	66.3	60.5
	Primary income	97.8	665.6	567.8	109.6	669.0	559.4	19.9	73.3	53.4	9.2	46.5	37.4
	Secondary income	-144.6	109.5	254.1	-141.7	107.4	249.2	-11.4	11.9	23.3	-11.5	7.4	18.9
CAPITAL ACCOUNT	-3.4	30.2	33.6	-13.3	33.4	46.7	1.8	6.1	4.4	1.0	2.9	1.8
	Net	Assets	Liabilities	Net	Assets	Liabilities	Net	Assets	Liabilities	Net	Assets	Liabilities
FINANCIAL ACCOUNT 1)	340.3	1,232.0	891.7	417.0	926.9	509.9	47.2	-200.7	-247.9	9.4	307.1	297.7
Direct investment	285.7	472.3	186.6	20.1	56.7	36.6	-32.3	-35.6	-3.2	27.1	34.8	7.7
Equity	221.7	429.5	207.8	170.0	54.6	-115.4	-5.5	13.0	18.4	79.9	28.6	-51.4
Debt instruments	64.1	42.9	-21.2	-149.9	2.1	152.0	-26.9	-48.5	-21.7	-52.9	6.2	59.1
Portfolio investment	319.7	390.3	70.6	402.4	676.0	273.6	30.4	11.4	-18.9	14.8	87.5	72.7
Equity	-112.9	46.5	159.4	-231.1	206.6	437.7	-22.6	-2.7	19.9	37.2	51.2	14.0
Debt securities	432.6	343.7	-88.9	633.5	469.4	-164.1	53.0	14.1	-38.8	-22.4	36.3	58.7
Short-term	-63.8	-5.8	58.1	67.5	57.9	-9.6	44.2	19.2	-25.0	-21.4	-3.9	17.5
Long-term	496.4	349.5	-147.0	566.0	411.5	-154.5	8.8	-5.1	-13.8	-1.0	40.2	41.2
Memo: Direct and portfolio investment	605.4	862.6	257.2	422.5	732.7	310.2	-2.0	-24.2	-22.2	41.8	122.2	80.4
Financial derivatives	12.0			2.7			-1.2			0.3
Other investment	-288.8	345.7	634.5	-14.3	185.4	199.7	51.9	-173.8	-225.7	-35.0	182.3	217.3
Eurosystem	-138.1	3.9	142.0	-95.9	1.6	97.5	-160.6	10.2	170.8	106.7	-8.1	-114.8
MFIs (excluding the Eurosystem)	-97.9	261.1	359.0	17.0	79.8	62.7	189.9	-157.7	-347.5	-134.1	155.8	289.9
General government	-9.5	-6.0	3.5	16.3	-7.1	-23.4	15.9	-0.0	-15.9	4.1	-1.5	-5.6
Other sectors	-43.3	86.7	130.0	48.3	111.2	62.9	6.7	-26.3	-33.0	-11.7	36.1	47.9
Of which: currency and deposits	-361.8	108.1	469.8	-63.5	93.2	156.7	140.0	-38.1	-178.1	-106.6	73.8	180.4
Reserve assets		11.7			6.1			-1.6			2.3
Errors and omissions	-13.7			25.3			-1.4			-4.5