Table 2: Monthly balance of payments of the euro area
(EUR billions; transactions, non−seasonally adjusted data)
| Twelve-month cumulated figures ending | February 2006 (revised) | March 2006 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| March 2005 | March 2006 | ||||||||||||||
| Net | Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | ||||
| Source: ECB. | |||||||||||||||
| ( 1 ) Financial account: inflows (+); outflows (−). Reserve assets: increase (−); decrease (+). | |||||||||||||||
| ( 2 ) Direct investment: assets refer to direct investment abroad and liabilities to direct investment in the euro area. | |||||||||||||||
| CURRENTACCOUNT | 38.0 | 1,870.4 | 1,832.4 | -36.2 | 2,088.8 | 2,125.1 | -0.4 | 175.4 | 175.9 | -1.3 | 191.8 | 193.1 | |||
| Goods | 92.2 | 1,140.9 | 1,048.7 | 34.0 | 1,267.3 | 1,233.3 | 0.3 | 104.8 | 104.5 | 2.3 | 121.7 | 119.4 | |||
| Services | 30.6 | 368.5 | 337.9 | 32.8 | 402.2 | 369.4 | 1.8 | 30.1 | 28.2 | 0.6 | 31.9 | 31.3 | |||
| Income | -22.4 | 278.8 | 301.2 | -40.1 | 332.1 | 372.2 | 1.0 | 24.2 | 23.3 | 0.7 | 31.3 | 30.6 | |||
| Current transfers | -62.3 | 82.2 | 144.5 | -62.9 | 87.2 | 150.1 | -3.5 | 16.3 | 19.8 | -4.8 | 7.0 | 11.8 | |||
| CAPITAL ACCOUNT | 15.0 | 23.8 | 8.8 | 14.1 | 23.3 | 9.1 | 1.0 | 1.4 | 0.4 | 0.6 | 1.6 | 0.9 | |||
| Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | ||||
| FINANCIALACCOUNT1) | 16.1 | 108.4 | 13.2 | 35.0 | |||||||||||
| DIRECTINVESTMENT2) | -42.9 | -152.3 | 109.4 | -134.7 | -212.7 | 78.0 | -25.4 | -33.6 | 8.2 | 7.5 | -5.0 | 12.5 | |||
| Equity capital and reinvested earnings | -61.5 | -148.3 | 86.8 | -123.8 | -164.8 | 41.0 | -23.7 | -28.7 | 5.0 | -6.3 | -10.2 | 4.0 | |||
| Other capital (mostly inter-company loans) | 18.6 | -4.0 | 22.6 | -11.0 | -48.0 | 37.0 | -1.7 | -4.9 | 3.1 | 13.8 | 5.2 | 8.6 | |||
| PORTFOLIO INVESTMENT | 53.5 | -351.3 | 404.7 | 188.1 | -473.8 | 661.9 | 20.5 | -44.8 | 65.3 | 49.2 | -44.4 | 93.6 | |||
| Equity | 35.9 | -113.7 | 149.6 | 189.2 | -153.5 | 342.8 | 10.2 | -21.4 | 31.6 | 40.2 | -11.6 | 51.8 | |||
| Debt instruments | 17.6 | -237.6 | 255.2 | -1.1 | -320.2 | 319.1 | 10.3 | -23.5 | 33.7 | 9.0 | -32.7 | 41.8 | |||
| Bonds and notes | 24.7 | -202.9 | 227.6 | -23.0 | -295.2 | 272.2 | -5.5 | -23.5 | 18.0 | 11.1 | -31.2 | 42.3 | |||
| Money market instruments | -7.1 | -34.7 | 27.6 | 21.9 | -25.1 | 47.0 | 15.8 | 0.0 | 15.8 | -2.0 | -1.5 | -0.5 | |||
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | 10.6 | -503.5 | 514.1 | 53.4 | -686.5 | 739.9 | -4.9 | -78.4 | 73.5 | 56.7 | -49.4 | 106.1 | |||
| FINANCIAL DERIVATIVES (NET) | -15.6 | -13.8 | -3.0 | -2.3 | |||||||||||
| OTHER INVESTMENT | 13.2 | -306.0 | 319.2 | 49.3 | -616.8 | 666.1 | 19.2 | -24.7 | 43.9 | -25.4 | -101.0 | 75.6 | |||
| Eurosystem | 14.3 | 1.2 | 13.1 | 4.1 | -6.0 | 10.1 | -4.3 | -4.4 | 0.2 | 1.6 | 0.9 | 0.7 | |||
| General government | 5.7 | 2.6 | 3.1 | -3.6 | 2.6 | -6.2 | 0.0 | 1.0 | -1.0 | 2.6 | 2.6 | -0.1 | |||
| of which: currency and deposits | 1.2 | 1.2 | -2.2 | -2.2 | 0.8 | 0.8 | 0.3 | 0.3 | |||||||
| MFIs (excluding the Eurosystem) | 53.7 | -229.8 | 283.5 | 98.2 | -408.2 | 506.4 | 34.2 | -1.6 | 35.7 | -4.9 | -76.4 | 71.6 | |||
| long-term | -21.2 | -30.8 | 9.6 | -46.9 | -94.0 | 47.1 | 3.5 | -6.5 | 10.0 | -10.7 | -12.9 | 2.2 | |||
| short-term | 74.8 | -199.1 | 273.9 | 145.0 | -314.2 | 459.2 | 30.6 | 4.9 | 25.7 | 5.8 | -63.5 | 69.4 | |||
| Other sectors | -60.5 | -80.0 | 19.5 | -49.3 | -205.3 | 155.9 | -10.7 | -19.7 | 9.0 | -24.7 | -28.0 | 3.4 | |||
| of which: currency and deposits | -18.9 | -18.9 | -24.3 | -24.3 | -7.5 | -7.5 | -4.8 | -4.8 | |||||||
| RESERVE ASSETS | 7.9 | 7.9 | 19.4 | 19.4 | 1.9 | 1.9 | 6.0 | 6.0 | |||||||
| Errors and omissions | -69.2 | -86.3 | -13.8 | -34.4 | |||||||||||