Table 2: Quarterly balance of payments and international investment position of the euro area
(EUR billions, unless otherwise indicated; outstanding amounts at end of period, transactions during period)
| Q3 2006 | Q4 2006 (revised) | Q1 2007 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End-of-periodoutstandingamounts | Transactions1) | Other changes | End-of-periodoutstandingamounts | Transactions1) | Other changes | End-of-period outstandingamounts | |||||||||
| as % ofpreviousend-periodoutstandingamounts | as % ofpreviousend-periodoutstandingamounts | as % of GDP | |||||||||||||
| Source: ECB. | |||||||||||||||
| ( 1 ) In this table, contrary to the balance of payments sign convention, a positive (negative) number indicates an increase (decrease) of euro area assets. | |||||||||||||||
| Financial account balance/Net international investment position | -957.1 | 45.8 | - | -148.0 | -1,059.4 | 12.0 | - | -25.8 | -1,073.2 | -12.2 | |||||
| Direct investment | 433.4 | 59.4 | - | -107.0 | 385.9 | 24.2 | - | -41.2 | 368.9 | 4.2 | |||||
| Abroad | 2,944.9 | 80.2 | 2.7 | -65.5 | 2,959.6 | 76.9 | 2.6 | -17.3 | 3,019.3 | 34.3 | |||||
| Equity/reinvested earnings | 2,394.6 | 59.1 | 2.5 | -68.1 | 2,385.7 | 53.3 | 2.2 | -11.9 | 2,427.1 | 27.5 | |||||
| Other capital | 550.3 | 21.1 | 3.8 | 2.6 | 574.0 | 23.6 | 4.1 | -5.4 | 592.2 | 6.7 | |||||
| In the euro area | 2,511.5 | 20.8 | 0.8 | 41.5 | 2,573.8 | 52.7 | 2.0 | 23.9 | 2,650.4 | 30.1 | |||||
| Equity/reinvested earnings | 1,907.8 | 13.7 | 0.7 | 16.3 | 1,937.8 | 21.3 | 1.1 | 1.8 | 1,960.9 | 22.3 | |||||
| Other capital | 603.7 | 7.1 | 1.2 | 25.2 | 635.9 | 31.4 | 4.9 | 22.1 | 689.5 | 7.8 | |||||
| Portfolio investment | -1,294.7 | -120.4 | - | -95.1 | -1,510.3 | -122.2 | - | 38.4 | -1,594.1 | -18.1 | |||||
| Assets | 4,213.6 | 140.3 | 3.3 | 22.2 | 4,376.2 | 145.2 | 3.3 | 40.9 | 4,562.3 | 51.8 | |||||
| Equity securities | 1,879.2 | 28.0 | 1.5 | 77.7 | 1,985.0 | 20.3 | 1.0 | 37.7 | 2,043.0 | 23.2 | |||||
| Debt securities | 2,334.4 | 112.3 | 4.8 | -55.5 | 2,391.3 | 124.9 | 5.2 | 3.1 | 2,519.3 | 28.6 | |||||
| Bonds and notes | 1,986.0 | 88.1 | 4.4 | -46.0 | 2,028.1 | 88.9 | 4.4 | 2.9 | 2,119.9 | 24.1 | |||||
| Money market instruments | 348.5 | 24.2 | 7.0 | -9.5 | 363.2 | 36.0 | 9.9 | 0.3 | 399.4 | 4.5 | |||||
| Liabilities | 5,508.4 | 260.7 | 4.7 | 117.4 | 5,886.5 | 267.4 | 4.5 | 2.5 | 6,156.4 | 69.9 | |||||
| Equity securities | 2,748.1 | 83.0 | 3.0 | 149.5 | 2,980.6 | 107.3 | 3.6 | 35.6 | 3,123.5 | 35.4 | |||||
| Debt securities | 2,760.2 | 177.7 | 6.4 | -32.1 | 2,905.9 | 160.1 | 5.5 | -33.1 | 3,032.9 | 34.4 | |||||
| Bonds and notes | 2,442.4 | 185.2 | 7.6 | -24.5 | 2,603.1 | 137.4 | 5.3 | -19.6 | 2,720.9 | 30.9 | |||||
| Money market instruments | 317.8 | -7.4 | -2.3 | -7.6 | 302.7 | 22.7 | 7.5 | -13.5 | 312.0 | 3.5 | |||||
| Financial derivatives | -15.4 | 0.1 | - | 0.5 | -14.9 | 17.2 | - | 4.6 | 6.9 | 0.1 | |||||
| Other investment | -405.4 | 104.2 | - | 55.3 | -245.9 | 91.4 | - | -31.9 | -186.4 | -2.1 | |||||
| Assets | 4,073.9 | 281.0 | 6.9 | -17.0 | 4,337.8 | 414.2 | 9.5 | -9.1 | 4,742.9 | 53.8 | |||||
| Eurosystem | 7.7 | 1.1 | 14.1 | 0.0 | 8.8 | 5.3 | 59.7 | -0.2 | 13.9 | 0.2 | |||||
| General government | 95.2 | 5.5 | 5.8 | 0.3 | 101.1 | -3.8 | -3.7 | -0.3 | 97.0 | 1.1 | |||||
| MFIs excluding Eurosystem | 2,762.4 | 210.6 | 7.6 | -35.3 | 2,937.7 | 290.4 | 9.9 | -16.6 | 3,211.5 | 36.4 | |||||
| Other sectors | 1,208.4 | 63.8 | 5.3 | 18.0 | 1,290.2 | 122.2 | 9.5 | 8.1 | 1,420.5 | 16.1 | |||||
| Liabilities | 4,479.2 | 176.8 | 3.9 | -72.3 | 4,583.7 | 322.8 | 7.0 | 22.8 | 4,929.3 | 55.9 | |||||
| Eurosystem | 95.9 | 4.7 | 4.9 | -0.4 | 100.2 | 6.1 | 6.1 | -0.2 | 106.2 | 1.2 | |||||
| General government | 50.2 | -3.2 | -6.4 | 0.7 | 47.7 | 1.4 | 2.9 | 0.9 | 50.0 | 0.6 | |||||
| MFIs excluding Eurosystem | 3,413.1 | 98.6 | 2.9 | -42.1 | 3,469.6 | 266.7 | 7.7 | -14.0 | 3,722.3 | 42.2 | |||||
| Other sectors | 920.1 | 76.8 | 8.3 | -30.6 | 966.2 | 48.5 | 5.0 | 36.0 | 1,050.8 | 11.9 | |||||
| Reserve assets | 325.1 | 2.4 | 0.8 | -1.7 | 325.8 | 1.4 | 0.4 | 4.3 | 331.5 | 3.8 | |||||