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)
| Q4 2006 | Q1 2007 (revised) | Q2 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 | -1,059.4 | -4.7 | - | 30.6 | -1,033.5 | -23.2 | - | -117.0 | -1,173.7 | -13.3 | |||||
| Direct investment | 385.9 | 14.6 | - | 7.2 | 407.6 | 69.1 | - | 18.1 | 494.9 | 5.6 | |||||
| Abroad | 2,959.6 | 92.0 | 3.1 | 90.7 | 3,142.4 | 109.4 | 3.5 | 3.0 | 3,254.7 | 36.8 | |||||
| Equity/reinvested earnings | 2,385.7 | 59.6 | 2.5 | 103.2 | 2,548.5 | 83.5 | 3.3 | 0.2 | 2,632.1 | 29.8 | |||||
| Other capital | 574.0 | 32.4 | 5.6 | -12.4 | 593.9 | 25.9 | 4.4 | 2.8 | 622.6 | 7.0 | |||||
| In the euro area | 2,573.8 | 77.4 | 3.0 | 83.6 | 2,734.8 | 40.3 | 1.5 | -15.2 | 2,759.9 | 31.2 | |||||
| Equity/reinvested earnings | 1,937.8 | 48.3 | 2.5 | 76.8 | 2,063.0 | 42.4 | 2.1 | -4.5 | 2,101.0 | 23.8 | |||||
| Other capital | 635.9 | 29.1 | 4.6 | 6.7 | 671.8 | -2.1 | -0.3 | -10.7 | 658.9 | 7.5 | |||||
| Portfolio investment | -1,510.3 | -129.8 | - | 73.9 | -1,566.2 | -69.5 | - | -66.1 | -1,701.8 | -19.3 | |||||
| Assets | 4,376.2 | 147.4 | 3.4 | 73.9 | 4,597.6 | 149.7 | 3.3 | 70.2 | 4,817.5 | 54.5 | |||||
| Equity securities | 1,985.0 | 17.6 | 0.9 | 58.5 | 2,061.1 | 10.2 | 0.5 | 107.1 | 2,178.4 | 24.6 | |||||
| Debt securities | 2,391.3 | 129.8 | 5.4 | 15.4 | 2,536.5 | 139.5 | 5.5 | -36.9 | 2,639.1 | 29.9 | |||||
| Bonds and notes | 2,028.1 | 93.8 | 4.6 | 3.7 | 2,125.6 | 116.9 | 5.5 | -41.3 | 2,201.2 | 24.9 | |||||
| Money market instruments | 363.2 | 36.0 | 9.9 | 11.7 | 410.9 | 22.6 | 5.5 | 4.3 | 437.9 | 5.0 | |||||
| Liabilities | 5,886.5 | 277.2 | 4.7 | 0.0 | 6,163.7 | 219.3 | 3.6 | 136.3 | 6,519.3 | 73.8 | |||||
| Equity securities | 2,980.6 | 113.5 | 3.8 | -30.3 | 3,063.8 | 71.5 | 2.3 | 183.3 | 3,318.6 | 37.5 | |||||
| Debt securities | 2,905.9 | 163.7 | 5.6 | 30.4 | 3,099.9 | 147.7 | 4.8 | -47.0 | 3,200.6 | 36.2 | |||||
| Bonds and notes | 2,603.1 | 141.8 | 5.4 | 45.5 | 2,790.4 | 110.9 | 4.0 | -43.8 | 2,857.5 | 32.3 | |||||
| Money market instruments | 302.7 | 21.9 | 7.2 | -15.1 | 309.5 | 36.9 | 11.9 | -3.2 | 343.1 | 3.9 | |||||
| Financial derivatives | -14.9 | 16.4 | - | -25.4 | -23.9 | 14.1 | - | -10.0 | -19.9 | -0.2 | |||||
| Other investment | -245.9 | 92.5 | - | -29.2 | -182.6 | -41.0 | - | -48.6 | -272.2 | -3.1 | |||||
| Assets | 4,337.8 | 373.0 | 8.6 | 5.0 | 4,715.8 | 191.1 | 4.1 | -33.8 | 4,873.1 | 55.1 | |||||
| Eurosystem | 8.8 | 5.3 | 59.7 | -0.2 | 13.9 | 3.5 | 25.2 | 0.4 | 17.8 | 0.2 | |||||
| General government | 101.1 | -7.2 | -7.2 | 15.2 | 109.1 | 17.5 | 16.0 | -0.7 | 125.8 | 1.4 | |||||
| MFIs excluding Eurosystem | 2,937.7 | 290.4 | 9.9 | -16.6 | 3,211.5 | 131.7 | 4.1 | -15.2 | 3,328.0 | 37.6 | |||||
| Other sectors | 1,290.2 | 84.6 | 6.6 | 6.6 | 1,381.4 | 38.4 | 2.8 | -18.3 | 1,401.5 | 15.9 | |||||
| Liabilities | 4,583.7 | 280.5 | 6.1 | 34.1 | 4,898.4 | 232.1 | 4.7 | 14.8 | 5,145.3 | 58.2 | |||||
| Eurosystem | 100.2 | 5.4 | 5.4 | -0.2 | 105.5 | 10.9 | 10.3 | -0.2 | 116.1 | 1.3 | |||||
| General government | 47.7 | 1.6 | 3.3 | 1.1 | 50.4 | -0.2 | -0.4 | 0.3 | 50.5 | 0.6 | |||||
| MFIs excluding Eurosystem | 3,469.6 | 266.7 | 7.7 | -21.0 | 3,715.2 | 178.7 | 4.8 | -15.8 | 3,878.2 | 43.9 | |||||
| Other sectors | 966.2 | 6.9 | 0.7 | 54.2 | 1,027.3 | 42.7 | 4.2 | 30.5 | 1,100.5 | 12.4 | |||||
| Reserve assets | 325.8 | 1.6 | 0.5 | 4.1 | 331.5 | 4.2 | 1.3 | -10.4 | 325.3 | 3.7 | |||||