Table 1: Balance of payments of the euro area ( 1 )
(EUR billions)
| April 2003 | March 2003 (revised) | Monthly average, previous six months | 12-month cumulated figures ending | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| October – March 2003 | April 2003 | April 2002 | |||||||||||||
| 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. | |||||||||||||||
| CURRENT ACCOUNT | 138.6 | 146.7 | −8.1 | 136.6 | 135.2 | 1.4 | 141.9 | 138.2 | 3.8 | 1705.0 | 1659.5 | 45.4 | 1709.2 | 1700.0 | 9.2 |
| CAPITAL ACCOUNT | 0.5 | 0.4 | 0.1 | 1.0 | 0.3 | 0.7 | 1.7 | 1.0 | 0.8 | 18.0 | 8.8 | 9.3 | 16.5 | 7.7 | 8.9 |
| Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | |
| FINANCIAL ACCOUNT ( 2 ) | 4.3 | 1.0 | −14.6 | −168.4 | −80.3 | ||||||||||
| DIRECT INVESTMENT ( 3 ) | −21.9 | 2.1 | −19.8 | −16.1 | 7.6 | −8.5 | −12.0 | 9.5 | −2.5 | −165.7 | 101.8 | −64.0 | −231.2 | 163.7 | −67.5 |
| Equity capital and reinvested earnings | −6.1 | 1.3 | −4.8 | −5.0 | 2.7 | −2.3 | −9.3 | 8.4 | −1.0 | −124.6 | 76.3 | −48.4 | −165.6 | 96.1 | −69.5 |
| Other capital (mostly inter−company loans) | −15.8 | 0.8 | −14.9 | −11.1 | 5.0 | −6.2 | −2.7 | 1.2 | −1.5 | −41.1 | 25.5 | −15.6 | −65.7 | 67.6 | 2.0 |
| PORTFOLIO INVESTMENT | −13.6 | 19.0 | 5.4 | −7.2 | 26.6 | 19.5 | −12.3 | 20.9 | 8.6 | −148.5 | 297.3 | 148.8 | −262.8 | 371.2 | 108.5 |
| Equity | −3.1 | 5.3 | 2.2 | 6.8 | −8.8 | −2.0 | 0.2 | 3.5 | 3.7 | −1.1 | 61.7 | 60.6 | −89.1 | 246.0 | 156.9 |
| Debt instruments | −10.5 | 13.7 | 3.1 | −14.0 | 35.4 | 21.5 | −12.5 | 17.5 | 4.9 | −147.4 | 235.6 | 88.2 | −173.7 | 125.2 | −48.5 |
| Bonds and notes | −17.2 | 2.1 | −15.1 | −15.8 | 36.4 | 20.6 | −11.4 | 13.9 | 2.5 | −118.4 | 158.2 | 39.8 | −136.2 | 111.5 | −24.7 |
| Money market instruments | 6.7 | 11.6 | 18.2 | 1.8 | −1.0 | 0.8 | −1.1 | 3.5 | 2.4 | −28.9 | 77.4 | 48.4 | −37.4 | 13.7 | −23.7 |
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | −35.5 | 21.1 | −14.4 | −23.3 | 34.3 | 11.0 | −24.3 | 30.5 | 6.1 | −314.2 | 399.1 | 84.9 | −494.0 | 535.0 | 41.0 |
| FINANCIAL DERIVATIVES (NET) | −4.7 | 0.3 | −0.6 | −22.2 | −9.2 | ||||||||||
| OTHER INVESTMENT | −40.5 | 63.4 | 22.9 | −18.8 | 3.8 | −15.0 | −35.9 | 14.0 | −21.9 | −353.5 | 117.8 | −235.8 | −151.0 | 32.3 | −118.7 |
| Eurosystem | 0.0 | −0.3 | −0.2 | −0.5 | 0.1 | −0.4 | −0.2 | −0.3 | −0.5 | −0.9 | −1.4 | −2.2 | −0.8 | 5.5 | 4.7 |
| General government | 1.1 | 2.7 | 3.7 | 4.5 | −0.1 | 4.3 | −0.2 | −1.7 | −1.9 | −1.6 | −12.2 | −13.8 | 2.3 | 5.8 | 8.1 |
| MFIs (excluding the Eurosystem) | −32.6 | 55.8 | 23.2 | −8.7 | 0.7 | −8.0 | −24.3 | 10.8 | −13.5 | −245.8 | 96.1 | −149.7 | −117.4 | 0.9 | −116.5 |
| long−term | −3.4 | 2.9 | −0.5 | −2.4 | 2.1 | −0.3 | −4.2 | 5.6 | 1.4 | −33.6 | 53.7 | 20.1 | −44.0 | 37.1 | −6.9 |
| short−term | −29.2 | 53.0 | 23.8 | −6.3 | −1.4 | −7.7 | −20.1 | 5.2 | −14.9 | −212.2 | 42.4 | −169.8 | −73.3 | −36.2 | −109.5 |
| Other sectors | −9.0 | 5.2 | −3.8 | −14.0 | 3.1 | −10.9 | −11.2 | 5.3 | −6.0 | −105.2 | 35.2 | −70.0 | −35.1 | 20.1 | −15.1 |
| RESERVE ASSETS | 0.5 | 0.5 | 4.7 | 4.7 | 1.7 | 1.7 | 4.7 | 4.7 | 6.6 | 6.6 | |||||
| Errors and omissions | 3.7 | −3.1 | 10.1 | 113.7 | 62.2 | ||||||||||