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This section provides information on balance of payments (b.o.p.) statistics. The euro area b.o.p. is compiled by the ECB on both a monthly and a quarterly basis. Recent monthly statistics should be regarded as provisional. Data are revised when figures for the following month and/or detailed quarterly b.o.p. data are published. Earlier statistics are revised periodically or as a result of methodological changes in the compilation of source data. The monetary presentation of the b.o.p. provides a link between the external transactions of euro area non-MFIs and money supply in the euro area.
Get the latest available data presented in the format of the Monthly Bulletin tables.
Until 2014, statistics relating to the euro area’s b.o.p., international investment position (i.i.p.) and international reserves template will be compiled in accordance with ECB Guideline ECB/2004/15.
The concepts and definitions used in b.o.p. and i.i.p. statistics are generally in line with the IMF’s Balance of Payments Manual (fifth edition, October 1993), the reference manual for the compilation of balance of payments statistics worldwide. The ECB’s reporting requirements in the field of b.o.p., i.i.p. and international reserves statistics are laid down in Guideline ECB/2004/15, which is addressed to the national central banks of the euro area, as amended by Guideline ECB/2007/3. Additional information on the methodologies and sources used in the euro area’s b.o.p. and i.i.p. statistics can be found in the ECB publication “European Union balance of payments/international investment position statistical methods” [2.91 MB] .
On 9 December 2011 Guideline ECB/2011/23 was adopted by the Governing Council of the ECB. This new legal act lays down new reporting requirements in the field of external statistics (i.e. b.o.p., i.i.p. and international reserves statistics, as well as data on international shipments of euro banknotes), which mainly reflect methodological changes introduced in the sixth edition of the IMF’s Balance of Payments and International Investment Position Manual.
This new edition of the IMF’s manual takes into account important developments that have occurred in the global economy since the fifth edition was released, such as the advent of cross-border production processes, complex international company structures and international labour mobility. The manual was revised in parallel with the introduction of the System of National Accounts 2008 in order to ensure consistency between external and domestic macroeconomic statistics.
The ECB will begin publishing the euro area’s b.o.p., i.i.p. and international reserves statistics in accordance with Guideline ECB/2011/23 (and the new edition of the IMF’s manual) in 2014, with sufficient backdata. In the meantime, national central banks are working with national statistics institutes to adapt national data collection and compilation systems (surveys, legal instruments, IT infrastructure, etc.) in line with the new requirements.
Data for the current account are seasonally adjusted. Where appropriate, data are also adjusted to take account of working day effects, as well as the impact of leap years and Easter.
The monetary presentation of the b.o.p. mirrors transactions in the external counterpart of M3. The data follow the sign conventions employed in the b.o.p., with the exception of transactions in the external counterpart of M3 derived from monetary statistics, where a positive sign denotes an increase in assets or a decrease in liabilities. As regards portfolio investment liabilities, b.o.p. transactions include sales and purchases of equity and debt securities issued by MFIs, with the exception of money market fund shares/units and debt securities issued by MFIs with a maturity of up to two years.
