Table 1: International investment position of the euro area, including a breakdown of changes from end- 2011 to end- 2012
(EUR billions unless otherwise indicated; outstanding amounts at end of period, flows during period)
| 2009 | 2010 | 2011 | 2012 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Totalchanges | Transactions1) | Other changesin outstanding amounts | End-of-periodoutstandingamounts | ||||||||||||
| as % of 2012 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 | -1,486.4 | -1,290.4 | -1,455.4 | 192.5 | 140.9 | - | -322.2 | 4.8 | 368.9 | -1,262.9 | -13.3 | ||||
| Direct investment | 880.3 | 1,038.7 | 1,293.7 | 143.0 | 3.6 | - | 45.2 | -16.4 | 110.6 | 1,436.7 | 15.1 | ||||
| Abroad | 4,412.8 | 4,930.6 | 5,633.2 | 248.1 | 329.9 | 5.9 | 38.8 | -22.0 | -98.6 | 5,881.3 | 62.0 | ||||
| Equity/reinvested earnings | 3,432.3 | 3,843.5 | 4,229.4 | 144.9 | 190.0 | 4.5 | 38.8 | -12.6 | -71.4 | 4,374.3 | 46.1 | ||||
| Other capital | 980.5 | 1,087.1 | 1,403.7 | 103.3 | 139.9 | 10.0 | 0.0 | -9.4 | -27.2 | 1,507.0 | 15.9 | ||||
| In the euro area | 3,532.5 | 3,891.9 | 4,339.5 | 105.1 | 326.3 | 7.5 | -6.4 | -5.6 | -209.2 | 4,444.6 | 46.9 | ||||
| Equity/reinvested earnings | 2,600.6 | 2,922.0 | 3,089.1 | 35.4 | 246.2 | 8.0 | -6.4 | -0.5 | -203.9 | 3,124.5 | 32.9 | ||||
| Other capital | 932.0 | 969.9 | 1,250.5 | 69.7 | 80.1 | 6.4 | 0.0 | -5.1 | -5.3 | 1,320.2 | 13.9 | ||||
| Portfolio investment | -2,522.9 | -2,572.5 | -2,970.7 | -139.9 | -72.3 | - | -399.8 | -3.7 | 336.1 | -3,110.5 | -32.8 | ||||
| Assets | 4,340.9 | 4,898.7 | 4,750.9 | 514.1 | 186.4 | 3.9 | 194.7 | -41.3 | 174.3 | 5,265.0 | 55.5 | ||||
| Equity securities | 1,506.3 | 1,901.9 | 1,693.8 | 253.5 | 57.6 | 3.4 | 180.1 | -16.5 | 32.3 | 1,947.3 | 20.5 | ||||
| Debt securities | 2,834.6 | 2,996.8 | 3,057.1 | 260.6 | 128.8 | 4.2 | 14.6 | -24.8 | 142.0 | 3,317.7 | 35.0 | ||||
| Bonds and notes | 2,421.7 | 2,575.9 | 2,587.2 | 264.8 | 126.5 | 4.9 | 14.6 | -12.9 | 136.6 | 2,852.0 | 30.1 | ||||
| Money market instruments | 412.9 | 420.9 | 469.8 | -4.2 | 2.3 | 0.5 | 0.0 | -11.9 | 5.4 | 465.7 | 4.9 | ||||
| Liabilities | 6,863.8 | 7,471.2 | 7,721.5 | 654.0 | 258.7 | 3.4 | 594.6 | -37.5 | -161.8 | 8,375.5 | 88.3 | ||||
| Equity securities | 2,814.9 | 3,193.9 | 3,048.8 | 426.6 | 144.1 | 4.7 | 392.6 | -16.4 | -93.7 | 3,475.4 | 36.6 | ||||
| Debt securities | 4,048.8 | 4,277.3 | 4,672.8 | 227.4 | 114.6 | 2.5 | 202.0 | -21.1 | -68.1 | 4,900.1 | 51.7 | ||||
| Bonds and notes | 3,523.2 | 3,824.0 | 4,228.3 | 210.6 | 119.3 | 2.8 | 202.0 | -20.4 | -90.2 | 4,438.9 | 46.8 | ||||
| Money market instruments | 525.7 | 453.3 | 444.4 | 16.8 | -4.7 | -1.0 | 0.0 | -0.8 | 22.2 | 461.2 | 4.9 | ||||
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | -1,642.6 | -1,533.8 | -1,677.0 | 3.2 | -68.8 | - | -354.6 | -20.1 | 446.7 | -1,673.8 | -17.6 | ||||
| Financial derivatives | -1.3 | -31.1 | -29.7 | 12.2 | -3.4 | - | 15.6 | - | - | -17.6 | -0.2 | ||||
| Other investment | -302.1 | -316.7 | -415.8 | 154.9 | 199.2 | - | 0.0 | 31.5 | -75.9 | -260.9 | -2.8 | ||||
| Assets | 4,527.2 | 4,794.5 | 4,871.2 | -52.8 | -4.8 | -0.1 | 0.0 | -16.7 | -31.3 | 4,818.4 | 50.8 | ||||
| Eurosystem | 30.4 | 32.9 | 35.5 | 4.7 | 5.2 | 14.7 | 0.0 | 0.0 | -0.5 | 40.1 | 0.4 | ||||
| General government | 118.9 | 162.1 | 162.7 | 5.2 | 4.7 | 2.9 | 0.0 | 0.0 | 0.4 | 167.9 | 1.8 | ||||
| MFIs excluding Eurosystem | 2,835.1 | 2,972.6 | 3,069.1 | -145.3 | -122.4 | -4.0 | 0.0 | -12.4 | -10.4 | 2,923.8 | 30.8 | ||||
| Other sectors | 1,542.8 | 1,626.9 | 1,604.0 | 82.6 | 107.7 | 6.7 | 0.0 | -4.3 | -20.8 | 1,686.6 | 17.8 | ||||
| Liabilities | 4,829.3 | 5,111.2 | 5,287.0 | -207.7 | -204.0 | -3.9 | 0.0 | -48.3 | 44.6 | 5,079.3 | 53.6 | ||||
| Eurosystem | 251.9 | 271.0 | 412.7 | 16.3 | 19.0 | 4.6 | 0.0 | 0.0 | -2.8 | 428.9 | 4.5 | ||||
| General government | 84.6 | 148.0 | 224.1 | 3.4 | 3.7 | 1.7 | 0.0 | -0.0 | -0.3 | 227.5 | 2.4 | ||||
| MFIs excluding Eurosystem | 3,388.9 | 3,489.6 | 3,212.3 | -248.6 | -234.6 | -7.3 | 0.0 | -35.1 | 21.1 | 2,963.8 | 31.3 | ||||
| Other sectors | 1,103.8 | 1,202.6 | 1,438.0 | 21.2 | 7.8 | 0.5 | 0.0 | -13.2 | 26.6 | 1,459.2 | 15.4 | ||||
| Reserve assets | 459.6 | 591.2 | 667.1 | 22.3 | 13.9 | 2.1 | 16.9 | -6.6 | -1.9 | 689.4 | 7.3 | ||||
| Breakdown of direct investment in equity | |||||||||||||||
| Abroad | 3,432.3 | 3,843.5 | 4,229.4 | 144.9 | 190.0 | 4.5 | 38.8 | -12.6 | -71.4 | 4,374.3 | 46.1 | ||||
| Listed companies (market value) | 153.7 | 184.9 | 153.3 | - | - | - | - | - | - | 164.9 | 1.7 | ||||
| Unlisted companies | 3,162.5 | 3,535.3 | 3,957.2 | - | - | - | - | - | - | 4,087.8 | 43.1 | ||||
| Real estate and other | 116.1 | 123.2 | 119.0 | - | - | - | - | - | - | 121.6 | 1.3 | ||||
| Memo item: listed companies (book value) | 72.6 | 93.6 | 103.7 | - | - | - | - | - | - | 110.3 | 1.2 | ||||
| In the euro area | 2,600.6 | 2,922.0 | 3,089.1 | 35.4 | 246.2 | 8.0 | -6.4 | -0.5 | -203.9 | 3,124.5 | 32.9 | ||||
| Listed companies (market value) | 78.8 | 98.1 | 53.5 | - | - | - | - | - | - | 48.5 | 0.5 | ||||
| Unlisted companies | 2,386.2 | 2,703.3 | 2,886.0 | - | - | - | - | - | - | 2,904.7 | 30.6 | ||||
| Real estate and other | 135.6 | 120.6 | 149.5 | - | - | - | - | - | - | 171.2 | 1.8 | ||||
| Memo item: listed companies (book value) | 47.5 | 51.9 | 34.2 | - | - | - | - | - | - | 25.9 | 0.3 | ||||