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Table 2: Monthly balance of payments of the euro area
(EUR billions; transactions, non−seasonally adjusted data)
| Cumulated figures for the 12-month period ending | February 2008 (revised) | March 2008 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| March 2007 | March 2008 | ||||||||||||||
| Net | Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | ||||
| Source: ECB. | |||||||||||||||
| ( 1 ) Financial account: inflows (+); outflows (−). Reserve assets: increase (−); decrease (+). | |||||||||||||||
| ( 2 ) Direct investment: assets refer to direct investment abroad and liabilities to direct investment in the euro area. | |||||||||||||||
| CURRENTACCOUNT | 9.7 | 2,462.8 | 2,453.1 | 5.0 | 2,680.6 | 2,675.6 | 8.1 | 231.7 | 223.5 | -7.8 | 223.6 | 231.5 | |||
| Goods | 33.1 | 1,422.0 | 1,389.0 | 44.2 | 1,528.9 | 1,484.6 | 4.2 | 131.8 | 127.5 | 0.3 | 130.3 | 129.9 | |||
| Services | 44.7 | 449.4 | 404.8 | 51.9 | 497.7 | 445.9 | 4.5 | 37.8 | 33.3 | 2.6 | 39.0 | 36.3 | |||
| Income | 10.1 | 501.1 | 490.9 | -3.0 | 563.0 | 565.9 | 3.8 | 46.1 | 42.3 | 0.4 | 49.4 | 49.0 | |||
| Current transfers | -78.2 | 90.2 | 168.4 | -88.1 | 91.0 | 179.1 | -4.4 | 16.0 | 20.3 | -11.2 | 5.0 | 16.2 | |||
| CAPITAL ACCOUNT | 12.8 | 25.8 | 12.9 | 15.1 | 26.3 | 11.3 | 2.3 | 3.0 | 0.7 | 0.8 | 2.0 | 1.2 | |||
| Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | ||||
| FINANCIALACCOUNT1) | 70.2 | 87.5 | -24.9 | 11.8 | |||||||||||
| DIRECTINVESTMENT2) | -130.2 | -367.7 | 237.5 | -149.3 | -411.2 | 261.9 | -20.0 | -33.2 | 13.2 | -18.8 | -24.0 | 5.2 | |||
| Equity capital and reinvested earnings | -89.9 | -276.9 | 184.0 | -137.5 | -314.3 | 177.2 | -15.0 | -16.8 | 1.7 | -10.0 | -18.8 | 8.8 | |||
| Other capital (mostly inter-company loans) | -36.7 | -90.9 | 53.5 | -11.6 | -96.9 | 84.7 | -5.0 | -16.4 | 11.4 | -8.8 | -5.2 | -3.6 | |||
| PORTFOLIO INVESTMENT | 376.4 | -479.4 | 855.8 | 181.3 | -322.0 | 503.3 | 19.4 | -28.0 | 47.4 | 1.3 | -1.2 | 2.5 | |||
| Equity | 213.1 | -73.4 | 286.5 | 167.9 | 6.6 | 161.3 | 35.4 | 7.4 | 28.0 | 4.8 | 10.3 | -5.5 | |||
| Debt instruments | 163.3 | -406.0 | 569.3 | 13.4 | -328.6 | 342.0 | -16.0 | -35.4 | 19.4 | -3.5 | -11.5 | 8.0 | |||
| Bonds and notes | 250.9 | -310.2 | 561.1 | 46.4 | -245.3 | 291.7 | -2.8 | -21.6 | 18.7 | 2.1 | 6.8 | -4.7 | |||
| Money market instruments | -87.6 | -95.9 | 8.2 | -33.0 | -83.2 | 50.2 | -13.2 | -13.9 | 0.7 | -5.7 | -18.3 | 12.6 | |||
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | 246.2 | -847.1 | 1,093.3 | 32.0 | -733.2 | 765.2 | -0.7 | -61.2 | 60.6 | -17.5 | -25.2 | 7.7 | |||
| FINANCIAL DERIVATIVES (NET) | -7.3 | -98.6 | 1.8 | 7.4 | |||||||||||
| OTHER INVESTMENT | -160.0 | -875.6 | 715.6 | 163.3 | -775.7 | 939.1 | -30.7 | -80.6 | 49.9 | 25.2 | 6.5 | 18.8 | |||
| Eurosystem | 12.0 | -5.0 | 17.0 | 32.6 | -11.2 | 43.8 | -13.4 | -0.6 | -12.8 | 12.7 | -2.3 | 15.0 | |||
| General government | 7.4 | 2.7 | 4.7 | 5.2 | 2.3 | 2.9 | -4.2 | -1.0 | -3.2 | 1.3 | 1.4 | -0.2 | |||
| of which: currency and deposits | -1.7 | -1.7 | -2.3 | -2.3 | -4.1 | -4.1 | 1.2 | 1.2 | |||||||
| MFIs (excluding the Eurosystem) | -141.3 | -678.2 | 536.9 | 163.0 | -480.3 | 643.3 | 39.4 | -61.9 | 101.3 | 7.0 | 36.7 | -29.7 | |||
| long-term | -95.7 | -199.3 | 103.6 | -143.2 | -207.9 | 64.7 | -8.2 | -16.6 | 8.4 | -42.4 | -32.0 | -10.4 | |||
| short-term | -45.6 | -478.9 | 433.3 | 306.2 | -272.4 | 578.6 | 47.6 | -45.4 | 93.0 | 49.4 | 68.7 | -19.3 | |||
| Other sectors | -38.1 | -195.1 | 157.0 | -37.5 | -286.5 | 249.1 | -52.5 | -17.0 | -35.5 | 4.3 | -29.4 | 33.6 | |||
| of which: currency and deposits | -27.6 | -27.6 | 2.6 | 2.6 | 5.3 | 5.3 | -9.6 | -9.6 | |||||||
| RESERVE ASSETS | -8.7 | -8.7 | -9.3 | -9.3 | 4.7 | 4.7 | -3.3 | -3.3 | |||||||
| Errors and omissions | -92.7 | -107.6 | 14.4 | -4.8 | |||||||||||