Table 2: Monthly balance of payments of the euro area
(EUR billions; transactions, non−seasonally adjusted data)
| Cumulated figures for the 12-month period ending | October 2008 (revised) | November 2008 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| November 2007 | November 2008 | ||||||||||||||
| 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 | 47.0 | 2,678.7 | 2,631.6 | -61.0 | 2,782.7 | 2,843.7 | -4.2 | 239.9 | 244.1 | -13.9 | 214.3 | 228.3 | |||
| Goods | 63.6 | 1,506.6 | 1,443.0 | -4.7 | 1,579.7 | 1,584.4 | 3.0 | 143.2 | 140.2 | -5.2 | 122.9 | 128.2 | |||
| Services | 53.1 | 484.8 | 431.7 | 50.3 | 501.8 | 451.5 | 3.6 | 43.9 | 40.3 | 2.0 | 38.5 | 36.5 | |||
| Income | 11.7 | 597.7 | 586.0 | -15.2 | 613.0 | 628.2 | 0.2 | 48.1 | 47.9 | -1.4 | 47.8 | 49.2 | |||
| Current transfers | -81.3 | 89.6 | 170.9 | -91.4 | 88.1 | 179.5 | -11.0 | 4.7 | 15.7 | -9.3 | 5.1 | 14.4 | |||
| CAPITAL ACCOUNT | 14.3 | 26.7 | 12.3 | 15.6 | 28.8 | 13.2 | 0.0 | 0.9 | 0.9 | 1.5 | 2.2 | 0.7 | |||
| Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | ||||
| FINANCIALACCOUNT1) | 32.8 | 181.6 | 75.1 | 17.2 | |||||||||||
| DIRECTINVESTMENT2) | -107.0 | -475.9 | 368.9 | -257.1 | -326.9 | 69.8 | -13.9 | -15.7 | 1.8 | -31.2 | -15.3 | -15.9 | |||
| Equity capital and reinvested earnings | -96.9 | -351.9 | 254.6 | -156.1 | -218.8 | 63.0 | -9.8 | -13.5 | 3.6 | -0.9 | 4.7 | -5.6 | |||
| Other capital (mostly inter-company loans) | -8.5 | -124.0 | 114.3 | -101.3 | -108.2 | 6.8 | -4.0 | -2.2 | -1.8 | -30.3 | -20.0 | -10.4 | |||
| PORTFOLIO INVESTMENT | 193.0 | -486.9 | 680.0 | 366.0 | 9.5 | 356.5 | 120.3 | 130.9 | -10.5 | 47.9 | 2.3 | 45.6 | |||
| Equity | 49.3 | -95.7 | 145.0 | 26.4 | 119.5 | -93.1 | 6.2 | 49.0 | -42.8 | 35.9 | 2.7 | 33.2 | |||
| Debt instruments | 143.7 | -391.2 | 534.9 | 339.6 | -110.0 | 449.7 | 114.2 | 81.9 | 32.3 | 12.0 | -0.4 | 12.4 | |||
| Bonds and notes | 208.1 | -306.2 | 514.3 | 199.8 | -108.1 | 307.8 | 7.9 | 30.9 | -23.0 | 18.8 | 2.2 | 16.6 | |||
| Money market instruments | -64.4 | -85.0 | 20.6 | 139.9 | -2.0 | 141.9 | 106.2 | 51.0 | 55.2 | -6.7 | -2.6 | -4.2 | |||
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | 86.0 | -962.8 | 1,048.9 | 108.9 | -317.5 | 426.4 | 106.5 | 115.2 | -8.7 | 16.7 | -13.0 | 29.7 | |||
| FINANCIAL DERIVATIVES (NET) | -54.1 | -19.8 | 25.4 | -1.8 | |||||||||||
| OTHER INVESTMENT | 12.0 | -1,039.2 | 1,051.2 | 101.1 | -142.1 | 243.2 | -48.2 | -42.2 | -6.0 | 3.3 | 94.0 | -90.7 | |||
| Eurosystem | 53.0 | -21.4 | 74.4 | 298.2 | 9.1 | 289.1 | 138.0 | 6.4 | 131.6 | -29.2 | 1.6 | -30.8 | |||
| General government | 19.0 | 11.4 | 7.6 | -5.1 | -3.6 | -1.5 | 6.5 | -0.3 | 6.8 | -4.6 | -7.3 | 2.6 | |||
| of which: currency and deposits | 7.3 | 7.3 | -1.4 | -1.4 | 2.8 | 2.8 | -8.1 | -8.1 | |||||||
| MFIs (excluding the Eurosystem) | 23.4 | -677.2 | 700.6 | -143.4 | -39.9 | -103.5 | -205.7 | -26.7 | -179.0 | 32.6 | 90.2 | -57.6 | |||
| long-term | -99.6 | -196.4 | 96.8 | -264.1 | -248.2 | -15.9 | -39.5 | -33.4 | -6.1 | -6.1 | -4.0 | -2.0 | |||
| short-term | 123.0 | -480.8 | 603.8 | 120.6 | 208.2 | -87.6 | -166.2 | 6.7 | -172.9 | 38.7 | 94.3 | -55.6 | |||
| Other sectors | -83.3 | -352.0 | 268.6 | -48.6 | -107.8 | 59.2 | 13.0 | -21.6 | 34.6 | 4.5 | 9.5 | -5.0 | |||
| of which: currency and deposits | -32.5 | -32.5 | 34.2 | 34.2 | -15.0 | -15.0 | -0.6 | -0.6 | |||||||
| RESERVE ASSETS | -11.2 | -11.2 | -8.5 | -8.5 | -8.6 | -8.6 | -1.0 | -1.0 | |||||||
| Errors and omissions | -94.2 | -136.3 | -70.9 | -4.7 | |||||||||||