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Table 3: Balance of payments of the euro area with a geographical breakdown

(EUR billions, unless otherwise indicated; four-quarter cumulated transactions; non-seasonally adjusted data)

Total European Union (outside the euro area)
Total Denmark Sweden UnitedKingdom Other EUcountries EUinstitutions
2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2
( 1 ) Financial account: inflows (+); outflows (−). Reserve assets: increase (−); decrease (+).
Current account -3.7 55.0 34.5 29.0 5.0 3.7 -0.7 0.4 40.9 44.7 31.2 29.8 -41.9 -49.6
Credit 2,860.7 3,070.6 932.9 985.4 52.3 53.8 89.8 92.2 437.6 468.0 293.8 308.8 59.4 62.5
as a percentage of total 100.0 100.0 32.6 32.1 1.8 1.8 3.1 3.0 15.3 15.2 10.3 10.1 2.1 2.0
Debit 2,864.4 3,015.5 898.4 956.4 47.3 50.0 90.5 91.8 396.7 423.3 262.6 279.0 101.3 112.2
as a percentage of total 100.0 100.0 31.4 31.7 1.6 1.7 3.2 3.0 13.9 14.0 9.2 9.3 3.5 3.7
Goods 3.7 51.4 78.2 77.4 3.8 3.9 7.3 7.4 49.2 47.5 17.8 18.4 0.2 0.2
Credit 1,694.2 1,851.2 543.2 577.9 32.5 34.5 57.6 58.4 223.2 240.9 229.6 243.9 0.2 0.2
as a percentage of total 100.0 100.0 32.1 31.2 1.9 1.9 3.4 3.2 13.2 13.0 13.6 13.2 0.0 0.0
Debit 1,690.5 1,799.9 464.9 500.5 28.7 30.6 50.4 51.0 174.0 193.4 211.9 225.5 0.0 0.0
as a percentage of total 100.0 100.0 27.5 27.8 1.7 1.7 3.0 2.8 10.3 10.7 12.5 12.5 0.0 0.0
Services 58.3 79.6 29.7 31.3 3.0 2.9 2.3 2.8 23.2 24.8 -5.2 -5.5 6.5 6.3
Credit 557.5 597.6 175.9 182.4 11.4 11.9 16.1 16.6 110.0 114.0 31.6 33.3 6.8 6.6
as a percentage of total 100.0 100.0 31.5 30.5 2.0 2.0 2.9 2.8 19.7 19.1 5.7 5.6 1.2 1.1
Debit 499.2 518.0 146.1 151.2 8.4 9.0 13.9 13.8 86.9 89.2 36.8 38.8 0.3 0.3
as a percentage of total 100.0 100.0 29.3 29.2 1.7 1.7 2.8 2.7 17.4 17.2 7.4 7.5 0.1 0.1
Income 41.8 38.8 -16.1 -15.7 -2.2 -2.8 -10.3 -10.0 -30.4 -26.4 21.0 19.0 5.7 4.5
Credit 517.7 525.4 153.8 161.7 7.1 6.5 14.1 15.2 93.9 101.9 29.6 28.7 9.1 9.4
as a percentage of total 100.0 100.0 29.7 30.8 1.4 1.2 2.7 2.9 18.1 19.4 5.7 5.5 1.8 1.8
Debit 475.9 486.6 170.0 177.3 9.3 9.4 24.4 25.2 124.3 128.2 8.6 9.6 3.4 4.9
as a percentage of total 100.0 100.0 35.7 36.4 1.9 1.9 5.1 5.2 26.1 26.4 1.8 2.0 0.7 1.0
Current transfers -107.6 -114.7 -57.3 -63.9 0.4 -0.2 0.1 0.3 -1.1 -1.3 -2.4 -2.1 -54.3 -60.6
Credit 91.3 96.3 60.0 63.4 1.3 0.9 1.9 2.0 10.5 11.2 3.0 3.0 43.3 46.4
as a percentage of total 100.0 100.0 65.7 65.9 1.4 0.9 2.1 2.1 11.5 11.6 3.3 3.1 47.5 48.1
Debit 198.8 211.0 117.3 127.4 0.9 1.1 1.8 1.8 11.6 12.5 5.4 5.1 97.6 107.0
as a percentage of total 100.0 100.0 59.0 60.4 0.5 0.5 0.9 0.8 5.9 5.9 2.7 2.4 49.1 50.7
Capital account 6.9 10.9 15.7 19.5 -0.0 -0.3 -0.0 -0.0 0.3 -0.2 0.1 -0.1 15.4 20.1
Credit 20.2 26.1 17.2 21.5 0.0 0.0 0.0 0.0 1.1 0.8 0.4 0.3 15.7 20.3
as a percentage of total 100.0 100.0 85.4 82.3 0.1 0.0 0.1 0.1 5.6 3.2 1.9 1.3 77.6 77.7
Debit 13.2 15.3 1.5 2.0 0.0 0.3 0.1 0.1 0.9 1.1 0.3 0.4 0.2 0.2
as a percentage of total 100.0 100.0 11.5 13.2 0.2 1.7 0.6 0.4 6.5 7.0 2.5 2.7 1.8 1.3
Financial account balance1) -8.3 -74.0 - - - - - - - - - - - -
Direct investment -86.4 -87.8 -3.6 -87.4 -0.2 0.1 14.9 -0.2 -17.0 -68.3 -1.3 -19.0 -0.0 -0.0
Abroad -348.0 -342.7 -56.7 -138.7 -1.3 -2.4 0.6 -3.8 -37.2 -111.3 -18.7 -21.2 -0.0 0.0
In the euro area 261.6 254.9 53.1 51.3 1.1 2.5 14.3 3.6 20.2 43.0 17.5 2.2 0.0 -0.0
Portfolio investment 283.6 20.3 - - - - - - - - - - - -
Assets -155.9 53.6 -57.3 -5.5 2.3 -4.5 -16.8 -18.3 -22.9 40.7 -7.7 1.0 -12.2 -24.5
Equity -76.1 99.2 -18.6 11.3 -0.7 -1.6 -4.8 -0.8 -10.7 12.8 -2.3 1.2 -0.1 -0.2
Debt -79.8 -45.6 -38.7 -16.8 3.0 -2.8 -12.0 -17.5 -12.2 28.0 -5.4 -0.1 -12.1 -24.3
Liabilities 439.6 -33.3 - - - - - - - - - - - -
Equity 198.7 45.9 - - - - - - - - - - - -
Debt 240.9 -79.2 - - - - - - - - - - - -
Financial derivatives 34.4 -37.9 - - - - - - - - - - - -
Other investment -226.0 45.5 -138.3 92.2 -1.5 -5.8 -10.9 35.7 -154.8 22.3 -5.0 16.3 33.8 23.7
Assets -234.5 -114.3 -108.6 -10.6 -1.4 -7.8 -21.2 6.6 -80.8 -19.0 -7.3 12.5 2.2 -3.0
Liabilities 8.5 159.8 -29.7 102.9 -0.0 1.9 10.3 29.2 -73.9 41.3 2.4 3.8 31.6 26.7
Reserve assets -14.0 -14.1 - - - - - - - - - - - -
Errors and omissions 5.1 8.1 - - - - - - - - - - - -

Table 3: Balance of payments of the euro area with a geographical breakdown (continued)

(EUR billions, unless otherwise indicated; four-quarter cumulated transactions; non-seasonally adjusted data)

Canada Japan Switzerland United States
2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2
( 1 ) Financial account: inflows (+); outflows (−). Reserve assets: increase (−); decrease (+).
Current account 12.6 17.2 -45.6 -36.8 31.6 35.7 -2.3 9.8
Credit 44.2 48.9 59.3 69.0 218.6 242.6 378.1 407.0
as a percentage of total 1.5 1.6 2.1 2.2 7.6 7.9 13.2 13.3
Debit 31.6 31.7 104.9 105.8 187.0 206.9 380.4 397.2
as a percentage of total 1.1 1.1 3.7 3.5 6.5 6.9 13.3 13.2
Goods 5.3 6.8 -15.5 -8.3 20.9 27.1 54.2 68.4
Credit 19.5 21.9 36.9 42.6 111.7 131.5 194.8 216.4
as a percentage of total 1.2 1.2 2.2 2.3 6.6 7.1 11.5 11.7
Debit 14.2 15.0 52.4 50.9 90.8 104.4 140.6 148.1
as a percentage of total 0.8 0.8 3.1 2.8 5.4 5.8 8.3 8.2
Services 2.3 3.0 3.6 4.5 13.8 15.4 -18.8 -16.8
Credit 9.2 10.2 13.6 14.5 57.5 60.6 84.0 91.3
as a percentage of total 1.6 1.7 2.4 2.4 10.3 10.1 15.1 15.3
Debit 6.8 7.2 10.0 10.1 43.8 45.2 102.8 108.1
as a percentage of total 1.4 1.4 2.0 1.9 8.8 8.7 20.6 20.9
Income 6.1 8.6 -33.9 -33.3 -3.4 -6.5 -38.1 -42.5
Credit 14.7 16.1 7.8 10.9 40.5 41.6 92.4 92.3
as a percentage of total 2.8 3.1 1.5 2.1 7.8 7.9 17.8 17.6
Debit 8.6 7.5 41.7 44.2 44.0 48.1 130.4 134.7
as a percentage of total 1.8 1.5 8.8 9.1 9.2 9.9 27.4 27.7
Current transfers -1.1 -1.2 0.3 0.2 0.3 -0.3 0.4 0.7
Credit 0.9 0.7 1.0 0.9 8.8 8.9 7.0 7.0
as a percentage of total 0.9 0.8 1.0 1.0 9.7 9.2 7.7 7.3
Debit 2.0 1.9 0.6 0.7 8.5 9.2 6.6 6.3
as a percentage of total 1.0 0.9 0.3 0.3 4.3 4.3 3.3 3.0
Capital account -0.1 -0.0 0.2 -0.0 0.1 0.4 -0.9 -3.8
Credit 0.0 0.0 0.2 0.0 0.5 0.7 0.4 0.3
as a percentage of total 0.1 0.1 1.1 0.1 2.2 2.8 1.8 1.1
Debit 0.2 0.1 0.1 0.1 0.4 0.4 1.3 4.1
as a percentage of total 1.3 0.4 0.6 0.4 2.9 2.4 9.6 26.6
Financial account balance1) - - - - - - - -
Direct investment 21.7 -19.8 4.4 5.1 -6.3 24.8 -32.6 67.0
Abroad -10.3 -19.9 -2.2 1.4 -32.1 -1.9 -96.1 -48.6
In the euro area 32.1 0.1 6.5 3.7 25.8 26.6 63.4 115.5
Portfolio investment - - - - - - - -
Assets 0.9 3.0 -4.8 14.8 -0.8 1.9 -50.3 25.8
Equity -5.5 -2.3 -2.1 8.4 4.4 1.9 -22.1 52.0
Debt 6.4 5.3 -2.8 6.4 -5.2 -0.0 -28.2 -26.2
Liabilities - - - - - - - -
Financial derivatives - - - - - - - -
Other investment -1.4 -1.6 -1.7 -2.4 -44.8 59.3 13.2 -130.6
Assets -1.0 -1.1 -13.6 1.1 -14.5 -11.6 -19.4 -22.3
Liabilities -0.4 -0.5 11.9 -3.5 -30.3 70.9 32.5 -108.3
Reserve assets - - - - - - - -
Errors and omissions - - - - - - - -

Table 3: Balance of payments of the euro area with a geographical breakdown (continued)

(EUR billions, unless otherwise indicated; four-quarter cumulated transactions; non-seasonally adjusted data)

Offshore financial centres International organisations Other countries
of which:Hong Kong of which:Brazil China2) India Russia
2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2 2010Q3 to 2011Q2 2011Q3 to 2012Q2
Source: ECB.
( 1 ) Financial account: inflows (+); outflows (−). Reserve assets: increase (−); decrease (+).
( 2 ) Data for mainland China, excluding Hong Kong.
Current account - - - - - - -34.6 0.1 16.8 21.2 - - 5.8 4.6 -35.7 -36.6
Credit - - - - - - 1,227.6 1,317.7 56.4 61.9 139.7 157.1 40.9 40.5 102.3 114.5
as a percentage of total - - - - - - 42.9 42.9 2.0 2.0 4.9 5.1 1.4 1.3 3.6 3.7
Debit - - - - - - 1,262.2 1,317.6 39.6 40.7 - - 35.1 35.9 138.0 151.1
as a percentage of total - - - - - - 44.1 43.7 1.4 1.4 - - 1.2 1.2 4.8 5.0
Goods - - - - - - -139.4 -120.0 -1.2 1.2 -108.1 -87.2 3.0 3.5 -46.7 -49.8
Credit - - - - - - 788.1 861.0 28.4 32.2 106.7 120.9 30.0 30.2 76.2 86.0
as a percentage of total - - - - - - 46.5 46.5 1.7 1.7 6.3 6.5 1.8 1.6 4.5 4.6
Debit - - - - - - 927.5 981.0 29.6 31.1 214.8 208.1 26.9 26.7 122.9 135.9
as a percentage of total - - - - - - 54.9 54.5 1.8 1.7 12.7 11.6 1.6 1.5 7.3 7.5
Services - - - - - - 27.7 42.2 2.7 3.8 4.5 5.7 1.5 0.0 5.8 8.8
Credit - - - - - - 217.4 238.5 8.7 9.8 18.3 20.6 7.6 7.1 16.6 19.1
as a percentage of total - - - - - - 39.0 39.9 1.6 1.6 3.3 3.4 1.4 1.2 3.0 3.2
Debit - - - - - - 189.6 196.3 6.0 6.1 13.8 14.9 6.1 7.1 10.8 10.3
as a percentage of total - - - - - - 38.0 37.9 1.2 1.2 2.8 2.9 1.2 1.4 2.2 2.0
Income - - - - - - 127.3 128.1 16.5 17.3 - - 1.9 1.7 5.4 4.7
Credit - - - - - - 208.5 202.8 18.9 19.4 14.1 14.9 3.1 2.9 8.9 8.9
as a percentage of total - - - - - - 40.3 38.6 3.7 3.7 2.7 2.8 0.6 0.6 1.7 1.7
Debit - - - - - - 81.2 74.7 2.5 2.1 - - 1.3 1.2 3.5 4.2
as a percentage of total - - - - - - 17.1 15.3 0.5 0.4 - - 0.3 0.2 0.7 0.9
Current transfers - - - - - - -50.2 -50.3 -1.2 -1.1 -3.9 -3.6 -0.6 -0.7 -0.3 -0.2
Credit - - - - - - 13.6 15.3 0.4 0.4 0.6 0.7 0.3 0.3 0.6 0.5
as a percentage of total - - - - - - 14.9 15.9 0.4 0.4 0.7 0.7 0.3 0.3 0.6 0.5
Debit - - - - - - 63.8 65.6 1.6 1.4 4.5 4.3 0.8 0.9 0.8 0.7
as a percentage of total - - - - - - 32.1 31.1 0.8 0.7 2.2 2.1 0.4 0.4 0.4 0.3
Capital account - - - - - - -7.9 -5.2 -0.1 -0.2 -0.2 -0.3 -0.2 -0.2 -0.0 0.1
Credit - - - - - - 1.9 3.5 0.1 0.0 0.0 0.0 0.0 0.0 0.1 0.1
as a percentage of total - - - - - - 9.3 13.5 0.5 0.1 0.1 0.1 0.2 0.0 0.4 0.5
Debit - - - - - - 9.8 8.7 0.2 0.2 0.3 0.3 0.2 0.2 0.1 0.0
as a percentage of total - - - - - - 74.1 57.1 1.5 1.3 2.0 2.0 1.7 1.6 0.7 0.3
Financial account balance1) - - - - - - - - - - - - - - - -
Direct investment 19.6 10.1 9.2 -1.8 0.1 -0.0 -89.6 -87.6 -39.2 -22.3 -14.1 -10.9 -5.8 -6.0 -0.6 -7.7
Abroad -29.7 -12.5 -1.7 -7.4 -0.0 -0.0 -120.9 -122.5 -47.6 -17.0 -12.8 -14.5 -6.3 -5.3 -7.2 -13.8
In the euro area 49.3 22.6 10.9 5.6 0.1 -0.0 31.3 34.9 8.5 -5.2 -1.3 3.6 0.5 -0.6 6.6 6.1
Portfolio investment - - - - - - - - - - - - - - - -
Assets 17.9 39.7 -4.4 1.3 -0.0 0.5 -61.5 -26.7 -7.5 1.0 -12.0 0.9 -1.4 1.6 -1.0 -2.1
Equity 0.2 18.2 -2.7 3.0 0.0 -0.0 -32.5 9.7 -6.9 1.4 -11.3 1.7 -1.3 1.1 0.2 -0.1
Debt 17.6 21.5 -1.6 -1.7 -0.0 0.5 -29.0 -36.3 -0.5 -0.4 -0.6 -0.8 -0.2 0.5 -1.1 -2.1
Liabilities - - - - - - - - - - - - - - - -
Financial derivatives - - - - - - - - - - - - - - - -
Other investment -125.6 -51.9 -18.9 16.1 44.6 16.0 28.1 64.5 2.7 -7.5 -0.6 24.0 -8.9 1.4 27.4 1.4
Assets -50.7 -32.4 -12.0 12.8 11.5 4.2 -38.1 -41.5 -2.0 0.0 -9.0 -12.3 -2.7 -0.4 -6.6 -1.0
Liabilities -74.9 -19.5 -7.0 3.3 33.1 11.8 66.2 106.0 4.7 -7.6 8.4 36.3 -6.2 1.8 34.0 2.4
Reserve assets - - - - - - - - - - - - - - - -
Errors and omissions - - - - - - - - - - - - - - - -