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Table 1: International investment position of the euro area, including a breakdown of changes from end- 2009 to end- 2010
(EUR billions unless otherwise indicated; outstanding amounts at end of period, flows during period)
2007 | 2008 | 2009 | 2010 | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Totalchanges | Transactions1) | Other changesin outstanding amounts | End-of-periodoutstandingamounts | ||||||||||||
as % of 2010 i.i.p. | pricechanges | exchangeratechanges | otheradjustments | as % ofGDP | |||||||||||
Source: ECB. | |||||||||||||||
( 1 ) In this table, by contrast with the balance of payments sign convention, a positive (negative) figure indicates an increase (decrease) in euro area assets. | |||||||||||||||
Financial account balance/Net international investment position | -1,274.0 | -1,584.3 | -1,406.2 | 179.3 | -44.1 | - | 141.3 | 211.3 | -129.3 | -1,226.9 | -13.4 | ||||
Direct investment | 504.7 | 630.6 | 884.1 | 199.2 | 49.9 | - | 47.9 | 102.9 | -1.5 | 1,083.3 | 11.8 | ||||
Abroad | 3,726.7 | 3,878.4 | 4,287.2 | 511.0 | 174.9 | 4.1 | 50.1 | 160.3 | 125.7 | 4,798.2 | 52.3 | ||||
Equity/reinvested earnings | 2,970.6 | 2,992.6 | 3,305.5 | 361.6 | 51.1 | 1.5 | 50.1 | 148.2 | 112.2 | 3,667.1 | 40.0 | ||||
Other capital | 756.1 | 885.9 | 981.7 | 149.4 | 123.8 | 12.6 | 0.0 | 12.1 | 13.5 | 1,131.1 | 12.3 | ||||
In the euro area | 3,221.9 | 3,247.8 | 3,403.0 | 311.8 | 125.0 | 3.7 | 2.2 | 57.4 | 127.2 | 3,714.8 | 40.5 | ||||
Equity/reinvested earnings | 2,391.9 | 2,320.7 | 2,501.9 | 318.3 | 176.7 | 7.1 | 2.2 | 50.7 | 88.7 | 2,820.2 | 30.7 | ||||
Other capital | 830.0 | 927.1 | 901.1 | -6.5 | -51.7 | -5.7 | 0.0 | 6.8 | 38.5 | 894.6 | 9.7 | ||||
Portfolio investment | -1,906.9 | -2,141.9 | -2,440.6 | -94.8 | -148.0 | - | 35.8 | 77.9 | -60.4 | -2,535.4 | -27.6 | ||||
Assets | 4,631.1 | 3,834.9 | 4,341.3 | 566.2 | 145.6 | 3.4 | 187.3 | 179.4 | 53.9 | 4,907.5 | 53.5 | ||||
Equity securities | 1,963.4 | 1,147.3 | 1,514.5 | 399.7 | 76.5 | 5.1 | 156.3 | 106.1 | 60.8 | 1,914.2 | 20.9 | ||||
Debt securities | 2,667.7 | 2,687.6 | 2,826.8 | 166.5 | 69.1 | 2.4 | 31.0 | 73.3 | -6.9 | 2,993.3 | 32.6 | ||||
Bonds and notes | 2,277.2 | 2,235.0 | 2,426.6 | 162.2 | 109.3 | 4.5 | 31.0 | 52.3 | -30.5 | 2,588.8 | 28.2 | ||||
Money market instruments | 390.5 | 452.6 | 400.2 | 4.3 | -40.3 | -10.1 | 0.0 | 21.0 | 23.6 | 404.5 | 4.4 | ||||
Liabilities | 6,538.1 | 5,976.8 | 6,781.9 | 661.0 | 293.6 | 4.3 | 151.5 | 101.6 | 114.4 | 7,442.9 | 81.1 | ||||
Equity securities | 3,301.2 | 2,200.8 | 2,781.9 | 368.8 | 128.9 | 4.6 | 160.2 | 45.0 | 34.7 | 3,150.7 | 34.3 | ||||
Debt securities | 3,236.8 | 3,776.0 | 4,000.0 | 292.2 | 164.7 | 4.1 | -8.8 | 56.6 | 79.6 | 4,292.2 | 46.8 | ||||
Bonds and notes | 2,996.3 | 3,377.9 | 3,493.1 | 329.8 | 174.2 | 5.0 | -8.8 | 53.8 | 110.6 | 3,823.0 | 41.7 | ||||
Money market instruments | 240.5 | 398.1 | 506.9 | -37.6 | -9.5 | -1.9 | 0.0 | 2.8 | -30.9 | 469.2 | 5.1 | ||||
MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | -1,402.2 | -1,511.3 | -1,556.4 | 104.4 | -98.1 | - | 83.7 | 180.8 | -61.9 | -1,452.0 | -15.8 | ||||
Financial derivatives | -28.9 | -0.5 | 0.2 | -61.7 | -17.4 | - | -44.3 | - | - | -61.6 | -0.7 | ||||
Other investment | -190.1 | -446.7 | -309.5 | 8.4 | 61.2 | - | 0.0 | 17.6 | -70.3 | -301.1 | -3.3 | ||||
Assets | 5,316.7 | 5,290.0 | 4,675.9 | 327.1 | 176.7 | 3.8 | 0.0 | 182.2 | -31.8 | 5,002.9 | 54.5 | ||||
Eurosystem | 37.1 | 28.8 | 30.2 | 2.5 | -2.9 | -9.7 | 0.0 | 0.0 | 5.4 | 32.6 | 0.4 | ||||
General government | 95.7 | 104.1 | 122.1 | 44.1 | 40.0 | 32.8 | 0.0 | 0.0 | 4.1 | 166.3 | 1.8 | ||||
MFIs excluding Eurosystem | 3,346.5 | 3,272.6 | 2,834.7 | 137.6 | 8.5 | 0.3 | 0.0 | 126.4 | 2.8 | 2,972.3 | 32.4 | ||||
Other sectors | 1,837.3 | 1,884.4 | 1,688.9 | 142.9 | 131.2 | 7.8 | 0.0 | 55.8 | -44.1 | 1,831.8 | 20.0 | ||||
Liabilities | 5,506.8 | 5,736.7 | 4,985.4 | 318.7 | 115.5 | 2.3 | 0.0 | 164.6 | 38.5 | 5,304.0 | 57.8 | ||||
Eurosystem | 202.1 | 482.7 | 251.7 | 17.1 | 8.9 | 3.5 | 0.0 | 0.0 | 8.1 | 268.8 | 2.9 | ||||
General government | 52.6 | 69.1 | 85.2 | 68.7 | 64.6 | 75.8 | 0.0 | 0.9 | 3.2 | 153.9 | 1.7 | ||||
MFIs excluding Eurosystem | 3,945.5 | 3,763.2 | 3,399.7 | 108.9 | -10.8 | -0.3 | 0.0 | 133.9 | -14.2 | 3,508.6 | 38.2 | ||||
Other sectors | 1,306.6 | 1,421.7 | 1,248.8 | 124.1 | 52.8 | 4.2 | 0.0 | 29.9 | 41.3 | 1,372.8 | 15.0 | ||||
Reserve assets | 347.2 | 374.2 | 459.6 | 128.2 | 10.3 | 2.2 | 102.0 | 13.0 | 2.9 | 587.8 | 6.4 | ||||
Breakdown of direct investment in equity | |||||||||||||||
Abroad | - | 2,992.6 | 3,305.5 | 361.6 | 51.1 | 1.5 | 50.1 | 148.2 | 112.2 | 3,667.1 | 40.0 | ||||
Listed companies (market value) | - | 118.7 | 154.4 | - | - | - | - | - | - | 186.0 | 2.0 | ||||
Unlisted companies | - | 2,777.0 | 3,029.1 | - | - | - | - | - | - | 3,333.3 | 36.3 | ||||
Real estate and other | - | 96.9 | 122.0 | - | - | - | - | - | - | 147.8 | 1.6 | ||||
Memo item: listed companies (book value) | - | 72.8 | 72.6 | - | - | - | - | - | - | 91.0 | 1.0 | ||||
In the euro area | - | 2,320.7 | 2,501.9 | 318.3 | 176.7 | 7.1 | 2.2 | 50.7 | 88.7 | 2,820.2 | 30.7 | ||||
Listed companies (market value) | - | 54.8 | 85.6 | - | - | - | - | - | - | 89.2 | 1.0 | ||||
Unlisted companies | - | 2,148.8 | 2,284.7 | - | - | - | - | - | - | 2,565.1 | 28.0 | ||||
Real estate and other | - | 117.2 | 131.6 | - | - | - | - | - | - | 165.9 | 1.8 | ||||
Memo item: listed companies (book value) | - | 39.6 | 46.8 | - | - | - | - | - | - | 48.0 | 0.5 |