Table 2: Monthly balance of payments of the euro area

(EUR billions unless otherwise indicated; transactions; non-working day and non-seasonally adjusted data)

	Cumulated figures for the 12-month period ending						November 2017			December 2017
	December 2016			December 2017
		Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit
	Source: ECB.
	1) Financial account: increases in assets and liabilities (+) and decreases in assets and liabilities (-).
	CURRENT ACCOUNT	368.9	3,686.0	3,317.2	391.6	3,891.7	3,500.1	40.1	334.3	294.2	45.8	349.3	303.5
	Goods	375.7	2,130.2	1,754.6	347.1	2,272.1	1,925.1	34.4	205.6	171.1	30.1	185.3	155.2
	Services	37.9	783.9	746.0	81.3	836.0	754.7	3.5	67.9	64.4	8.0	78.4	70.5
	Primary income	94.2	662.0	567.9	109.2	676.3	567.1	14.5	52.9	38.4	19.3	73.7	54.4
	Secondary income	-138.9	109.9	248.8	-146.0	107.3	253.3	-12.4	7.9	20.3	-11.6	11.8	23.4
CAPITAL ACCOUNT	-0.8	30.5	31.3	-18.4	32.6	51.0	1.0	2.8	1.8	1.5	5.9	4.4
	Net	Assets	Liabilities	Net	Assets	Liabilities	Net	Assets	Liabilities	Net	Assets	Liabilities
FINANCIAL ACCOUNT 1)	310.2	1,064.0	753.8	412.6	979.8	567.3	35.6	58.5	22.9	45.6	-203.6	-249.2
Direct investment	222.8	411.9	189.1	0.5	89.4	88.8	-17.2	-0.4	16.8	-33.5	-35.6	-2.1
Equity	214.3	412.7	198.4	85.0	46.4	-38.6	-21.4	-1.8	19.5	-5.7	12.9	18.6
Debt instruments	8.5	-0.7	-9.2	-84.5	42.9	127.4	4.2	1.4	-2.8	-27.8	-48.5	-20.7
Portfolio investment	416.6	392.2	-24.3	384.9	622.3	237.4	32.7	50.9	18.1	31.9	11.5	-20.5
Equity	-61.0	22.6	83.6	-273.6	175.9	449.5	-5.7	10.3	15.9	-22.0	-2.7	19.4
Debt securities	477.6	369.7	-107.9	658.5	446.4	-212.1	38.4	40.6	2.2	54.0	14.2	-39.8
Short-term	-46.4	2.7	49.1	65.9	57.7	-8.2	9.8	-1.1	-10.9	44.4	19.2	-25.1
Long-term	524.0	366.9	-157.0	592.6	388.7	-203.9	28.6	41.7	13.1	9.6	-5.1	-14.7
Memo: Direct and portfolio investment	639.4	804.2	164.8	385.4	711.6	326.2	15.6	50.5	34.9	-1.5	-24.1	-22.6
Financial derivatives	18.5			9.0			0.5			-1.4
Other investment	-363.3	225.6	589.0	19.3	260.4	241.1	13.1	1.1	-12.0	50.2	-176.4	-226.6
Eurosystem	-151.3	4.1	155.4	-172.1	5.3	177.4	3.5	3.2	-0.4	-159.9	10.2	170.0
MFIs (excluding the Eurosystem)	-151.0	169.8	320.8	131.8	160.9	29.1	1.3	-18.6	-19.9	189.4	-159.2	-348.7
General government	1.8	-1.5	-3.3	9.4	-9.4	-18.8	1.0	-0.6	-1.6	14.7	-0.3	-15.0
Other sectors	-62.8	53.3	116.1	50.3	103.7	53.4	7.3	17.0	9.8	5.9	-27.1	-32.9
Of which: currency and deposits	-409.0	50.4	459.4	-33.5	155.2	188.7	12.4	-18.4	-30.8	139.7	-39.5	-179.2
Reserve assets		15.7			-1.3			6.3			-1.6
Errors and omissions	-57.8			39.4			-5.5			-1.7