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 | November 2008 (revised) | December 2008 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| December 2007 | December 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 | 37.8 | 2,685.8 | 2,648.0 | -61.1 | 2,772.0 | 2,833.1 | -11.8 | 214.3 | 226.1 | 1.4 | 222.7 | 221.2 | |||
| Goods | 57.5 | 1,506.7 | 1,449.2 | -0.6 | 1,577.6 | 1,578.2 | -3.6 | 123.0 | 126.6 | 0.4 | 115.0 | 114.6 | |||
| Services | 53.2 | 488.3 | 435.1 | 50.3 | 500.2 | 449.9 | 2.4 | 38.3 | 35.9 | 2.9 | 41.4 | 38.4 | |||
| Income | 11.1 | 601.8 | 590.7 | -19.3 | 606.6 | 625.9 | -1.4 | 47.9 | 49.2 | 1.8 | 50.6 | 48.8 | |||
| Current transfers | -84.0 | 89.0 | 173.0 | -91.5 | 87.5 | 179.1 | -9.3 | 5.0 | 14.3 | -3.7 | 15.7 | 19.4 | |||
| CAPITAL ACCOUNT | 14.0 | 25.9 | 11.9 | 13.5 | 26.5 | 13.0 | 1.5 | 2.2 | 0.7 | 0.9 | 2.3 | 1.4 | |||
| Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | ||||
| FINANCIALACCOUNT1) | 29.4 | 205.4 | 4.6 | 10.7 | |||||||||||
| DIRECTINVESTMENT2) | -90.4 | -455.3 | 364.9 | -283.9 | -334.3 | 50.4 | -52.5 | -36.1 | -16.4 | -16.6 | -12.1 | -4.6 | |||
| Equity capital and reinvested earnings | -104.3 | -354.4 | 250.7 | -173.0 | -225.7 | 52.7 | -22.0 | -16.3 | -5.7 | -3.4 | -7.3 | 3.9 | |||
| Other capital (mostly inter-company loans) | 13.8 | -100.9 | 114.2 | -110.9 | -108.6 | -2.3 | -30.5 | -19.8 | -10.8 | -13.3 | -4.8 | -8.5 | |||
| PORTFOLIO INVESTMENT | 137.7 | -440.6 | 578.3 | 412.4 | 30.0 | 382.4 | 50.3 | 1.4 | 48.9 | 18.0 | 35.4 | -17.3 | |||
| Equity | 15.0 | -81.1 | 96.0 | 66.8 | 129.1 | -62.3 | 36.0 | 2.6 | 33.4 | 25.2 | 13.6 | 11.6 | |||
| Debt instruments | 122.8 | -359.5 | 482.3 | 345.6 | -99.1 | 444.7 | 14.4 | -1.2 | 15.6 | -7.1 | 21.7 | -28.9 | |||
| Bonds and notes | 163.1 | -283.3 | 446.4 | 188.2 | -93.7 | 281.9 | 21.5 | 2.2 | 19.4 | -9.5 | 21.7 | -31.2 | |||
| Money market instruments | -40.3 | -76.2 | 35.9 | 157.4 | -5.4 | 162.8 | -7.2 | -3.4 | -3.8 | 2.4 | 0.0 | 2.4 | |||
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | 47.3 | -895.9 | 943.2 | 128.5 | -304.3 | 432.8 | -2.2 | -34.7 | 32.5 | 1.4 | 23.3 | -21.9 | |||
| FINANCIAL DERIVATIVES (NET) | -53.9 | -13.4 | -1.8 | 1.3 | |||||||||||
| OTHER INVESTMENT | 41.1 | -918.3 | 959.3 | 95.2 | -35.7 | 130.9 | 9.3 | 90.0 | -80.7 | 0.2 | 206.9 | -206.7 | |||
| Eurosystem | 69.4 | -21.9 | 91.4 | 288.6 | 8.4 | 280.1 | -33.2 | -2.4 | -30.8 | 13.1 | 2.4 | 10.8 | |||
| General government | 6.4 | 7.6 | -1.2 | 15.2 | 6.4 | 8.8 | -4.6 | -7.3 | 2.6 | 6.6 | 7.3 | -0.6 | |||
| of which: currency and deposits | 2.0 | 2.0 | 5.9 | 5.9 | -8.1 | -8.1 | 7.2 | 7.2 | |||||||
| MFIs (excluding the Eurosystem) | 80.8 | -555.0 | 635.8 | -159.9 | 35.7 | -195.6 | 32.6 | 90.2 | -57.6 | -19.5 | 170.1 | -189.7 | |||
| long-term | -110.3 | -212.7 | 102.4 | -239.6 | -209.0 | -30.7 | -6.1 | -4.0 | -2.0 | -12.6 | 1.8 | -14.4 | |||
| short-term | 191.1 | -342.3 | 533.4 | 79.7 | 244.6 | -165.0 | 38.7 | 94.3 | -55.6 | -6.9 | 168.3 | -175.2 | |||
| Other sectors | -115.5 | -348.9 | 233.4 | -48.7 | -86.3 | 37.6 | 14.5 | 9.5 | 5.0 | -0.0 | 27.2 | -27.2 | |||
| of which: currency and deposits | -37.5 | -37.5 | 43.3 | 43.3 | -0.6 | -0.6 | 21.1 | 21.1 | |||||||
| RESERVE ASSETS | -5.1 | -5.1 | -5.0 | -5.0 | -0.7 | -0.7 | 7.8 | 7.8 | |||||||
| Errors and omissions | -81.3 | -157.8 | 5.7 | -13.1 | |||||||||||