Table 2: Monthly balance of payments of the euro area
( 1 )
(EUR billions; non−seasonally adjusted data)
| |
July 2004
|
June 2004
(revised) |
Monthly average,
previous six months
|
12-month cumulated
figures ending
|
| |
|
January 2004
-
June 2004
|
July 2004
|
July 2003
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Credit |
Debit |
Net |
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 |
154.7 |
151.6 |
3.1 |
157.5 |
152.1 |
5.4 |
145.6 |
141.9 |
3.7 |
1725.4 |
1673.8 |
51.6 |
1681.9 |
1649.2 |
32.7 |
|
Goods |
98.3
|
84.6
|
13.7
|
99.7 |
87.5 |
12.2 |
91.9 |
81.5 |
10.4
|
1086.6
|
958.6
|
128.0
|
1042.5
|
929.0
|
113.5
|
|
Services |
30.6
|
29.3
|
1.3
|
29.8 |
26.9 |
2.9 |
26.6
|
25.8
|
0.8
|
330.1
|
318.8
|
11.2
|
328.3
|
309.7
|
18.6
|
|
Income |
20.8
|
26.4
|
-5.6
|
22.8 |
25.4 |
-2.6 |
19.4
|
22.7
|
-3.4
|
228.2
|
259.7
|
-31.5
|
226.8
|
273.8
|
-47.0
|
|
Current transfers |
5.0
|
11.3
|
-6.3
|
5.2 |
12.3 |
-7.1 |
7.8 |
11.8
|
-4.0
|
80.5
|
136.7
|
-56.2
|
84.3
|
136.6
|
-52.4
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL
ACCOUNT |
1.7 |
0.6 |
1.2 |
1.3 |
0.5 |
0.8 |
1.7 |
0.6 |
1.1 |
23.9 |
6.7 |
17.2 |
19.3 |
11.1 |
8.2 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
Liabilities |
Balance |
Assets |
Liabilities |
Balance |
Assets |
Liabilities |
Balance |
Assets |
Liabilities |
Balance |
Assets |
Liabilities |
Balance |
FINANCIAL
ACCOUNT2) |
|
|
-11.8 |
|
|
0.8; |
|
|
-4.8; |
|
|
-45.1; |
|
|
-122.3 |
DIRECT
INVESTMENT3) |
-11.3 |
3.1 |
-8.3 |
-11.9 |
4.1 |
-7.8 |
-7.8 |
0.9 |
-6.9 |
-108.0 |
33.8 |
-74.2 |
-122.2 |
140.9 |
18.7 |
|
Equity capital and reinvested earnings |
-9.6
|
5.1
|
-4.5
|
-12.5 |
3.6 |
-8.9 |
-7.1 |
2.6
|
-4.4
|
-96.6
|
62.2
|
-34.3
|
-101.6
|
119.7
|
18.2
|
|
Other capital (mostly inter-company loans) |
-1.7
|
-2.0
|
-3.8
|
0.6 |
0.5 |
1.0 |
-0.7 |
-1.7
|
-2.4
|
-11.4
|
-28.5
|
-39.9
|
-20.7
|
21.2
|
0.5
|
|
PORTFOLIO INVESTMENT |
-33.0 |
2.5 |
-30.5 |
-12.6 |
43.8 |
31.2 |
-25.2 |
26.8 |
1.6 |
-284.6 |
248.7 |
-35.9 |
-223.4 |
305.9 |
82.5 |
|
Equity |
-2.9
|
9.1
|
6.2
|
-15.0 |
15.1 |
0.1 |
-8.9
|
3.7
|
-5.2
|
-93.3
|
91.0
|
-2.3
|
-19.8
|
57.9
|
38.1
|
|
Debt instruments |
-30.1
|
-6.6
|
-36.7
|
2.3 |
28.7 |
31.1 |
-16.3 |
23.1
|
6.8
|
-191.4
|
157.7
|
-33.6
|
-203.6
|
248.1
|
44.5
|
|
Bonds and notes |
-12.3
|
-3.2
|
-15.4
|
-5.3 |
24.7 |
19.4 |
-12.8
|
19.6
|
6.8
|
-129.9
|
154.8
|
24.9
|
-169.6
|
189.9
|
20.3
|
|
Money market instruments |
-17.8
|
-3.4
|
-21.2
|
7.6 |
4.1 |
11.7 |
-3.5
|
3.5
|
0.0
|
-61.4
|
2.9
|
-58.5
|
-34.0
|
58.2
|
24.2
|
|
MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT |
-44.3
|
5.5
|
-38.7
|
-24.5
|
47.9
|
23.4
|
-32.9
|
27.7
|
-5.3
|
-392.6
|
282.5
|
-110.1
|
-345.7
|
446.9
|
101.2
|
|
FINANCIAL DERIVATIVES (NET) |
|
|
-0.9 |
|
|
0.1 |
|
|
0.8 |
|
|
-2.5 |
|
|
-10.7 |
|
OTHER INVESTMENT |
56.8 |
-29.6 |
27.2 |
19.2 |
-40.8 |
-21.6 |
-34.0 |
32.6 |
-1.3 |
-169.4 |
216.1 |
46.8 |
-378.7 |
153.1 |
-225.6 |
|
Eurosystem |
-0.3
|
1.8
|
1.5
|
-0.0 |
1.4 |
1.3 |
-0.0
|
0.1
|
0.1
|
-1.0
|
5.1
|
4.0
|
-0.8
|
13.9
|
13.1
|
|
General government |
-0.4
|
-0.4
|
-0.9
|
-3.4 |
1.6 |
-1.8 |
-0.7 |
-0.8
|
-1.5
|
-0.0
|
-6.3
|
-6.3
|
-5.8
|
-4.8
|
-10.7
|
|
of which: currency and deposits |
-0.6
|
|
-0.6
|
-3.3 |
|
-3.3 |
-0.7
|
|
-0.7
|
.
|
|
.
|
.
|
|
.
|
|
MFIs (excluding the Eurosystem) |
47.3
|
-12.2
|
35.1
|
28.0 |
-41.7 |
-13.7 |
-27.9 |
30.5
|
2.6
|
-146.6
|
215.2
|
68.6
|
-262.6
|
113.9
|
-148.7
|
|
long-term |
6.9
|
-6.5
|
0.3
|
-1.8 |
2.2 |
0.4 |
-4.8
|
1.0
|
-3.8
|
-46.2
|
25.6
|
-20.5
|
-57.6
|
50.7
|
-6.9
|
|
short-term |
40.4
|
-5.7
|
34.8
|
29.9 |
-43.9 |
-14.0 |
-23.2
|
29.6
|
6.4
|
-100.4
|
189.6
|
89.1
|
-205.0
|
63.1
|
-141.8
|
|
Other sectors |
10.2
|
-18.7
|
-8.4
|
-5.5 |
-1.9 |
-7.4 |
-5.2 |
2.7
|
-2.5
|
-21.7
|
2.2
|
-19.6
|
-109.5
|
30.1
|
-79.3
|
|
of which: currency and deposits |
4.7
|
|
4.7
|
-2.4 |
|
-2.4 |
-1.9
|
|
-1.9
|
.
|
|
.
|
.
|
|
.
|
|
RESERVE ASSETS |
0.6 |
|
0.6 |
-1.1 |
|
-1.1 |
1.0 |
|
1.0 |
20.7 |
|
20.7 |
12.7 |
|
12.7 |
|
Errors and omissions |
|
|
7.5
|
|
|
-7.1 |
|
|
-0.1
|
|
|
-23.7
|
|
|
81.4
|
http://www.ecb.europa.eu/press/pr/stats/bop/2004/html/pr0407bop_mki.en.html
