Table 1: Balance of payments of the euro area (Euro 12) ( 1 )
(EUR billions)
| 2000 | 2001 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| December | January – December | December | January – December | ||||||||||
| Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net | ||
| Source: ECB. | |||||||||||||
| ( 1 ) As from January 2001 the data refer to the Euro 12, i.e. they include Greece. Data for 2000 have been re-calculated to take into account the new composition of the euro area and are comparable with Euro 12 figures. | |||||||||||||
| ( 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 | 146.6 | 154.8 | −8.2 | 1604.8 | 1674.9 | −70.1 | 142.0 | 139.1 | 2.9 | 1705.7 | 1714.9 | −9.3 | |
| Goods | 85.8 | 84.4 | 1.4 | 976.4 | 964.7 | 11.7 | 81.5 | 71.1 | 10.4 | 1036.5 | 962.4 | 74.1 | |
| Services | 26.6 | 29.3 | −2.7 | 294.0 | 299.2 | −5.2 | 25.6 | 26.7 | −1.1 | 310.8 | 309.4 | 1.5 | |
| Income | 27.9 | 29.0 | −1.1 | 263.9 | 291.5 | −27.5 | 29.4 | 30.6 | −1.3 | 284.5 | 322.2 | −37.7 | |
| Current transfers | 6.3 | 12.1 | −5.8 | 70.4 | 119.5 | −49.0 | 5.6 | 10.7 | −5.1 | 73.8 | 120.9 | −47.1 | |
| CAPITAL ACCOUNT | 3.0 | 1.1 | 1.9 | 20.6 | 8.7 | 11.9 | 2.6 | 1.5 | 1.2 | 17.0 | 7.6 | 9.4 | |
| Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | ||
| FINANCIAL ACCOUNT ( 2 ) | 20.2 | 98.0 | 3.7 | −74.8 | |||||||||
| DIRECT INVESTMENT ( 3 ) | −22.3 | 25.1 | 2.8 | −384.8 | 400.1 | 15.2 | −17.5 | 18.1 | 0.6 | −217.1 | 123.2 | −93.9 | |
| Equity capital and reinvested earnings | −11.0 | −2.8 | −13.8 | −286.2 | 296.4 | 10.2 | −5.7 | 11.6 | 5.9 | −128.4 | 90.0 | −38.4 | |
| Other capital, mostly intercompany loans | −11.4 | 28.0 | 16.6 | −98.6 | 103.6 | 5.0 | −11.8 | 6.5 | −5.2 | −88.7 | 33.2 | −55.5 | |
| PORTFOLIO INVESTMENT | −33.3 | 42.9 | 9.6 | −399.8 | 297.0 | −102.8 | −6.3 | −5.5 | −11.7 | −247.4 | 288.3 | 40.9 | |
| Equity | −34.2 | 27.9 | −6.3 | −288.8 | 46.2 | −242.6 | −4.9 | 14.0 | 9.1 | −94.0 | 237.7 | 143.8 | |
| Debt instruments | 0.9 | 15.0 | 15.9 | −111.0 | 250.8 | 139.8 | −1.3 | −19.5 | −20.8 | −153.5 | 50.6 | −102.9 | |
| Bonds and notes | 1.8 | 11.1 | 12.9 | −91.6 | 226.4 | 134.9 | −11.6 | −17.6 | −29.2 | −142.7 | 76.7 | −66.0 | |
| Money market instruments | −0.9 | 3.9 | 3.0 | −19.4 | 24.4 | 4.9 | 10.2 | −1.9 | 8.4 | −10.7 | −26.1 | −36.9 | |
| MEMO ITEM:COMBINED DIRECT AND PORTFOLIO INVESTMENT | −55.6 | 68.0 | 12.4 | −784.7 | 697.1 | −87.6 | −23.7 | 12.6 | −11.1 | −464.5 | 411.5 | −53.0 | |
| FINANCIAL DERIVATIVES (NET) | −4.0 | −1.4 | −0.5 | −22.1 | |||||||||
| OTHER INVESTMENT | 10.0 | 2.7 | 12.7 | −176.0 | 348.5 | 172.5 | 33.5 | −24.1 | 9.4 | −251.3 | 233.7 | −17.6 | |
| Eurosystem | −0.2 | 0.8 | 0.6 | −1.1 | −0.1 | −1.2 | 0.1 | −2.8 | −2.7 | 0.6 | 4.4 | 5.0 | |
| General government | 0.4 | 1.5 | 1.9 | −2.5 | −1.5 | −4.1 | −0.4 | −0.5 | −0.9 | 4.3 | −1.5 | 2.8 | |
| MFIs (excluding the Eurosystem) | 5.5 | −10.5 | −5.0 | −128.3 | 290.9 | 162.6 | 30.2 | −21.2 | 9.0 | −230.7 | 234.5 | 3.8 | |
| Long-term | −12.3 | −2.4 | −14.7 | −47.3 | 53.8 | 6.5 | −4.3 | 2.3 | −2.0 | −42.9 | 20.7 | −22.2 | |
| Short-term | 17.8 | −8.1 | 9.7 | −81.0 | 237.1 | 156.1 | 34.5 | −23.5 | 11.0 | −187.8 | 213.7 | 25.9 | |
| Other sectors | 4.3 | 10.8 | 15.1 | −44.1 | 59.3 | 15.2 | 3.7 | 0.4 | 4.0 | −25.4 | −3.7 | −29.2 | |
| RESERVE ASSETS | −1.0 | 14.5 | 5.9 | 17.8 | |||||||||
| Errors and omissions | −13.9 | −39.8 | −7.7 | 74.7 | |||||||||