Table 2: Monthly balance of payments of the euro area ( 1 )
(EUR billions; non−seasonally adjusted data)
| October 2004 | September 2004 (revised) | Monthly average, previous six months | 12-month cumulated figures ending | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| April 2004 - September 2004 | October 2004 | October 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 | 151.6 | 150.4 | 1.1 | 149.9 | 149.5 | 0.3 | 149.0 | 146.4 | 2.5 | 1761.3 | 1722.4 | 38.9 | 1684.7 | 1654.0 | 30.6 |
| Goods | 100.2 | 92.1 | 8.1 | 96.0 | 91.0 | 5.1 | 94.2 | 84.6 | 9.6 | 1105.6 | 994.5 | 111.1 | 1042.3 | 932.4 | 109.9 |
| Services | 28.5 | 26.9 | 1.7 | 29.8 | 28.0 | 1.8 | 29.6 | 27.3 | 2.3 | 338.0 | 319.3 | 18.7 | 329.4 | 311.2 | 18.2 |
| Income | 18.7 | 21.7 | -3.0 | 19.3 | 19.5 | -0.2 | 20.0 | 23.7 | -3.7 | 236.0 | 271.0 | -35.0 | 231.9 | 274.1 | -42.2 |
| Current transfers | 4.2 | 9.8 | -5.6 | 4.8 | 11.1 | -6.3 | 5.1 | 10.8 | -5.7 | 81.6 | 137.6 | -56.0 | 81.1 | 136.3 | -55.3 |
| CAPITAL ACCOUNT | 1.0 | 0.4 | 0.6 | 1.6 | 0.5 | 1.1 | 1.8 | 0.4 | 1.3 | 24.4 | 6.0 | 18.4 | 18.9 | 10.7 | 8.2 |
| Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | |
| FINANCIALACCOUNT2) | -22.0 | 10.0 | -1.2 | -52.5 | -40.8 | ||||||||||
| DIRECTINVESTMENT3) | -22.2 | 12.5 | -9.7 | -4.2 | 9.3 | 5.1 | -6.5 | 4.3 | -2.2 | -109.0 | 58.0 | -51.0 | -157.3 | 166.6 | 9.3 |
| Equity capital and reinvested earnings | -15.8 | 4.7 | -11.1 | -1.8 | 6.5 | 4.7 | -7.5 | 3.1 | -4.4 | -94.7 | 60.7 | -34.0 | -147.3 | 125.0 | -22.2 |
| Other capital (mostly inter-company loans) | -6.4 | 7.8 | 1.4 | -2.4 | 2.9 | 0.4 | 1.0 | 1.2 | 2.1 | -14.3 | -2.7 | -17.0 | -10.1 | 41.6 | 31.5 |
| PORTFOLIO INVESTMENT | -27.1 | 33.0 | 5.9 | 3.3 | 38.0 | 41.4 | -19.0 | 25.3 | 6.3 | -264.7 | 279.8 | 15.2 | -276.3 | 348.8 | 72.5 |
| Equity | -6.2 | 16.4 | 10.1 | 14.5 | 12.1 | 26.6 | -2.6 | 5.1 | 2.5 | -63.3 | 94.5 | 31.3 | -63.9 | 107.4 | 43.5 |
| Debt instruments | -20.9 | 16.7 | -4.2 | -11.2 | 25.9 | 14.8 | -16.4 | 20.2 | 3.8 | -201.4 | 185.3 | -16.1 | -212.4 | 241.4 | 29.0 |
| Bonds and notes | -18.3 | 14.5 | -3.8 | -13.8 | 37.7 | 23.9 | -12.0 | 21.7 | 9.8 | -151.7 | 193.8 | 42.1 | -179.4 | 199.8 | 20.4 |
| Money market instruments | -2.6 | 2.2 | -0.4 | 2.6 | -11.8 | -9.1 | -4.4 | -1.5 | -6.0 | -49.7 | -8.5 | -58.2 | -33.0 | 41.6 | 8.6 |
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | -49.3 | 45.5 | -3.7 | -0.9 | 47.4 | 46.5 | -25.5 | 29.6 | 4.1 | -373.6 | 337.8 | -35.8 | -433.6 | 515.4 | 81.8 |
| FINANCIAL DERIVATIVES (NET) | -2.9 | 3.2 | -0.5 | -5.1 | -10.4 | ||||||||||
| OTHER INVESTMENT | -16.4 | 0.0 | -16.4 | -43.3 | 4.4 | -38.9 | -7.4 | 2.5 | -4.9 | -269.5 | 233.8 | -35.7 | -248.5 | 122.8 | -125.7 |
| Eurosystem | 0.1 | 1.1 | 1.2 | -0.7 | 1.5 | 0.8 | -0.0 | 0.8 | 0.8 | -1.3 | 3.2 | 1.9 | -0.7 | 17.1 | 16.4 |
| General government | 2.0 | 0.3 | 2.3 | 0.8 | 2.9 | 3.6 | -0.7 | 0.9 | 0.3 | -0.6 | -3.0 | -3.6 | -1.8 | -3.4 | -5.2 |
| of which: currency and deposits | 2.3 | 2.3 | 0.6 | 0.6 | -0.7 | -0.7 | |||||||||
| MFIs (excluding the Eurosystem) | -9.9 | -0.8 | -10.7 | -39.8 | 1.1 | -38.7 | -5.1 | 4.9 | -0.2 | -227.5 | 215.6 | -11.9 | -157.1 | 87.0 | -70.1 |
| long-term | 7.4 | 5.5 | 12.9 | -4.7 | 3.0 | -1.7 | -0.9 | 1.1 | 0.2 | -19.3 | 32.7 | 13.4 | -63.1 | 54.6 | -8.4 |
| short-term | -17.3 | -6.3 | -23.6 | -35.1 | -1.9 | -37.0 | -4.2 | 3.8 | -0.4 | -208.2 | 182.9 | -25.3 | -94.1 | 32.4 | -61.7 |
| Other sectors | -8.6 | -0.6 | -9.3 | -3.6 | -1.0 | -4.6 | -1.6 | -4.2 | -5.8 | -40.1 | 18.0 | -22.1 | -88.9 | 22.2 | -66.7 |
| of which: currency and deposits | -3.2 | -3.2 | -2.1 | -2.1 | 1.3 | 1.3 | |||||||||
| RESERVE ASSETS | 0.9 | 0.9 | -0.7 | -0.7 | 0.2 | 0.2 | 24.1 | 24.1 | 13.6 | 13.6 | |||||
| Errors and omissions | 20.3 | -11.5 | -2.6 | -4.8 | 1.9 | ||||||||||