Table 1: Balance of payments of the euro area ( 1 )
(EUR billions)
2001 | 2002 | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
December | January – December | December | January – December | ||||||||||
Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net | ||
Source: ECB. | |||||||||||||
( 1 ) Figures may not add up due to rounding. | |||||||||||||
( 2 ) Financial account: inflows (+); outflows (-). Reserve assets: increase (-); decrease (+). | |||||||||||||
( 3 ) Direct investment: assets refer to direct investment abroad and liabilities to direct investment in the euro area. | |||||||||||||
CURRENT ACCOUNT | 145.4 | 143.1 | 2.3 | 1712.2 | 1726.0 | −13.8 | 143.8 | 135.7 | 8.1 | 1704.5 | 1642.5 | 62.0 | |
Goods | 81.0 | 70.5 | 10.4 | 1033.0 | 957.1 | 75.8 | 85.4 | 74.8 | 10.5 | 1057.4 | 924.8 | 132.7 | |
Services | 28.8 | 28.9 | −0.1 | 321.6 | 320.6 | 0.9 | 28.2 | 26.5 | 1.7 | 326.3 | 313.0 | 13.3 | |
Income | 29.4 | 31.3 | −1.9 | 282.0 | 321.7 | −39.7 | 21.8 | 23.6 | −1.8 | 235.8 | 275.0 | −39.2 | |
Current transfers | 6.3 | 12.4 | −6.1 | 75.7 | 126.5 | −50.8 | 8.5 | 10.8 | −2.3 | 84.9 | 129.8 | −44.8 | |
CAPITAL ACCOUNT | 2.4 | 1.7 | 0.7 | 17.0 | 8.1 | 8.9 | 2.1 | 0.9 | 1.1 | 19.0 | 7.1 | 11.9 | |
Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | ||
FINANCIAL ACCOUNT ( 2 ) | −3.2 | −40.5 | −10.1 | −171.3 | |||||||||
DIRECT INVESTMENT ( 3 ) | −17.8 | 18.6 | 0.8 | −255.8 | 154.3 | −101.5 | 0.4 | 9.3 | 9.6 | −151.0 | 129.9 | −21.0 | |
Equity capital and reinvested earnings | −10.8 | 12.0 | 1.2 | −164.1 | 103.1 | −61.0 | −14.2 | 10.4 | −3.8 | −129.6 | 82.6 | −47.0 | |
Other capital, mostly intercompany loans | −6.9 | 6.6 | −0.3 | −91.7 | 51.2 | −40.5 | 14.6 | −1.2 | 13.4 | −21.4 | 47.3 | 26.0 | |
PORTFOLIO INVESTMENT | −13.5 | −2.5 | −16.0 | −288.0 | 326.1 | 38.1 | −18.5 | 4.6 | −13.9 | −176.1 | 226.6 | 50.4 | |
Equity | −6.6 | 12.6 | 6.0 | −108.6 | 231.1 | 122.6 | −5.1 | 0.5 | −4.5 | −37.1 | 76.2 | 39.1 | |
Debt instruments | −6.8 | −15.1 | −22.0 | −179.4 | 95.0 | −84.4 | −13.4 | 4.0 | −9.4 | −139.0 | 150.3 | 11.3 | |
Bonds and notes | −16.4 | −18.2 | −34.6 | −158.7 | 90.4 | −68.3 | −8.6 | 3.8 | −4.8 | −83.4 | 104.4 | 21.0 | |
Money market instruments | 9.5 | 3.1 | 12.6 | −20.7 | 4.5 | −16.2 | −4.9 | 0.3 | −4.6 | −55.6 | 45.9 | −9.7 | |
MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | −31.2 | 16.1 | −15.1 | −543.8 | 480.4 | −63.4 | −18.1 | 13.8 | −4.3 | −327.1 | 356.5 | 29.4 | |
FINANCIAL DERIVATIVES (NET) | −1.1 | −3.7 | −1.2 | −13.8 | |||||||||
OTHER INVESTMENT | 35.5 | −28.3 | 7.2 | −240.9 | 249.6 | 8.8 | 46.8 | −50.2 | −3.3 | −223.6 | 39.1 | −184.4 | |
Eurosystem | 0.1 | −2.8 | −2.7 | 0.6 | 4.4 | 5.0 | −1.3 | 1.6 | 0.4 | −1.2 | 0.1 | −1.1 | |
General government | 0.1 | −0.4 | −0.3 | 2.9 | −1.1 | 1.9 | 1.5 | −1.5 | −0.0 | −0.8 | −6.8 | −7.7 | |
MFIs (excluding the Eurosystem) | 30.5 | −24.3 | 6.2 | −227.2 | 234.1 | 6.8 | 34.4 | −53.0 | −18.6 | −164.7 | 27.4 | −137.3 | |
Long-term | −4.3 | 2.7 | −1.6 | −44.4 | 20.1 | −24.3 | −4.4 | 16.2 | 11.8 | −30.5 | 52.6 | 22.1 | |
Short-term | 34.8 | −27.0 | 7.8 | −182.9 | 214.0 | 31.1 | 38.7 | −69.1 | −30.4 | −134.3 | −25.2 | −159.4 | |
Other sectors | 4.8 | −0.8 | 4.1 | −17.2 | 12.2 | −4.9 | 12.2 | 2.7 | 14.9 | −56.8 | 18.5 | −38.3 | |
RESERVE ASSETS | 5.9 | 5.9 | 17.8 | 17.8 | −1.2 | −1.2 | −2.5 | −2.5 | |||||
Errors and omissions | 0.2 | 45.4 | 0.8 | 97.5 |