Table 2: Monthly balance of payments of the euro area
(EUR billions; transactions, non−seasonally adjusted data)
| Twelve-month cumulated figures ending | November 2005 (revised) | December 2005 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| December 2004 | December 2005 | ||||||||||||||
| 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 | 45.6 | 1,840.7 | 1,795.1 | -29.0 | 1,996.9 | 2,025.9 | -7.2 | 176.7 | 183.9 | -0.3 | 186.1 | 186.4 | |||
| Goods | 106.7 | 1,133.1 | 1,026.4 | 58.5 | 1,223.1 | 1,164.5 | 2.5 | 112.7 | 110.1 | 2.5 | 109.2 | 106.7 | |||
| Services | 28.3 | 360.3 | 332.0 | 31.4 | 386.0 | 354.6 | 2.7 | 31.2 | 28.5 | 3.1 | 34.1 | 31.1 | |||
| Income | -33.1 | 266.2 | 299.3 | -53.0 | 305.4 | 358.4 | -5.5 | 28.3 | 33.8 | 0.1 | 33.6 | 33.6 | |||
| Current transfers | -56.3 | 81.0 | 137.3 | -66.0 | 82.3 | 148.3 | -6.9 | 4.5 | 11.5 | -5.9 | 9.2 | 15.1 | |||
| CAPITAL ACCOUNT | 17.4 | 24.0 | 6.6 | 12.2 | 22.2 | 10.1 | 0.9 | 1.5 | 0.7 | 2.5 | 3.7 | 1.2 | |||
| Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | ||||
| FINANCIALACCOUNT1) | -8.3 | 39.6 | -8.8 | -40.9 | |||||||||||
| DIRECTINVESTMENT2) | -46.8 | -130.8 | 84.0 | -155.3 | -207.9 | 52.6 | -12.9 | -21.6 | 8.7 | -6.8 | -16.1 | 9.4 | |||
| Equity capital and reinvested earnings | -64.9 | -141.6 | 76.6 | -111.3 | -125.1 | 13.9 | -5.2 | -5.2 | 0.0 | -12.6 | -12.5 | -0.1 | |||
| Other capital (mostly inter-company loans) | 18.2 | 10.8 | 7.4 | -44.1 | -82.8 | 38.7 | -7.7 | -16.3 | 8.6 | 5.8 | -3.6 | 9.4 | |||
| PORTFOLIO INVESTMENT | 71.2 | -330.8 | 402.0 | 142.6 | -423.1 | 565.7 | -34.7 | -46.2 | 11.5 | -15.9 | -35.7 | 19.8 | |||
| Equity | 34.7 | -102.8 | 137.5 | 144.1 | -126.0 | 270.1 | -6.9 | -22.8 | 16.0 | 31.0 | -20.1 | 51.1 | |||
| Debt instruments | 36.5 | -227.9 | 264.5 | -1.5 | -297.0 | 295.5 | -27.8 | -23.4 | -4.4 | -46.9 | -15.6 | -31.3 | |||
| Bonds and notes | 81.0 | -174.8 | 255.8 | -40.9 | -282.5 | 241.6 | -15.6 | -18.5 | 2.8 | -16.8 | -10.8 | -6.0 | |||
| Money market instruments | -44.4 | -53.1 | 8.6 | 39.4 | -14.5 | 53.9 | -12.2 | -4.9 | -7.3 | -30.2 | -4.8 | -25.4 | |||
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | 24.4 | -461.6 | 486.0 | -12.8 | -631.0 | 618.2 | -47.5 | -67.7 | 20.2 | -22.7 | -51.8 | 29.1 | |||
| FINANCIAL DERIVATIVES (NET) | -4.8 | -15.9 | 1.0 | -2.8 | |||||||||||
| OTHER INVESTMENT | -40.4 | -314.3 | 273.9 | 49.3 | -550.0 | 599.4 | 36.6 | -126.4 | 163.0 | -22.7 | 66.5 | -89.2 | |||
| Eurosystem | 7.0 | -0.2 | 7.1 | 4.9 | -1.0 | 5.9 | 1.0 | -0.7 | 1.7 | -4.1 | 0.0 | -4.1 | |||
| General government | -4.9 | -2.2 | -2.6 | 1.2 | 3.4 | -2.2 | 0.5 | 0.2 | 0.2 | -5.0 | -0.9 | -4.1 | |||
| of which: currency and deposits | -2.0 | -2.0 | -3.2 | -3.2 | 0.8 | 0.8 | -2.3 | -2.3 | |||||||
| MFIs (excluding the Eurosystem) | -12.7 | -259.6 | 246.9 | 86.7 | -385.6 | 472.3 | 56.1 | -114.0 | 170.1 | -28.5 | 87.2 | -115.7 | |||
| long-term | -23.2 | -20.0 | -3.3 | -56.7 | -101.6 | 44.9 | -5.1 | -1.6 | -3.4 | -33.7 | -32.9 | -0.9 | |||
| short-term | 10.6 | -239.6 | 250.2 | 143.5 | -284.0 | 427.4 | 61.2 | -112.3 | 173.5 | 5.2 | 120.1 | -114.9 | |||
| Other sectors | -29.8 | -52.4 | 22.5 | -43.5 | -166.9 | 123.3 | -21.0 | -12.0 | -9.0 | 14.9 | -19.9 | 34.7 | |||
| of which: currency and deposits | -13.2 | -13.2 | -40.0 | -40.0 | -9.9 | -9.9 | -8.5 | -8.5 | |||||||
| RESERVE ASSETS | 12.5 | 12.5 | 18.9 | 18.9 | 1.2 | 1.2 | 7.4 | 7.4 | |||||||
| Errors and omissions | -54.7 | -22.7 | 15.2 | 38.6 | |||||||||||