Table 2: Monthly balance of payments of the euro area
(EUR billions; transactions, non−seasonally adjusted data)
| Cumulated figures for the 12-month period ending | April 2008 (revised) | May 2008 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| May 2007 | May 2008 | ||||||||||||||
| 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 | 12.2 | 2,501.3 | 2,489.1 | -5.4 | 2,728.7 | 2,734.1 | -7.4 | 235.5 | 242.9 | -21.4 | 226.1 | 247.5 | |||
| Goods | 43.3 | 1,440.5 | 1,397.2 | 35.0 | 1,553.6 | 1,518.6 | 4.2 | 138.0 | 133.7 | -4.4 | 128.8 | 133.1 | |||
| Services | 43.7 | 456.6 | 412.9 | 51.3 | 498.6 | 447.3 | 3.0 | 39.9 | 36.9 | 3.6 | 40.3 | 36.7 | |||
| Income | 4.0 | 512.7 | 508.7 | 0.1 | 586.0 | 585.8 | -7.0 | 50.1 | 57.1 | -15.7 | 50.2 | 65.9 | |||
| Current transfers | -78.8 | 91.5 | 170.3 | -91.8 | 90.6 | 182.4 | -7.7 | 7.5 | 15.2 | -5.0 | 6.8 | 11.8 | |||
| CAPITAL ACCOUNT | 14.2 | 26.7 | 12.5 | 15.1 | 27.3 | 12.2 | 0.5 | 1.5 | 1.0 | 1.8 | 2.7 | 0.9 | |||
| Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | ||||
| FINANCIALACCOUNT1) | 98.3 | 89.8 | 18.2 | 44.2 | |||||||||||
| DIRECTINVESTMENT2) | -158.6 | -339.8 | 181.2 | -209.8 | -369.6 | 159.8 | -22.4 | 18.8 | -41.2 | -10.4 | -10.1 | -0.3 | |||
| Equity capital and reinvested earnings | -110.9 | -256.3 | 142.8 | -162.2 | -262.6 | 100.9 | -6.9 | 25.0 | -31.9 | -7.2 | -10.9 | 3.7 | |||
| Other capital (mostly inter-company loans) | -43.6 | -83.5 | 38.4 | -48.0 | -107.0 | 59.0 | -15.5 | -6.2 | -9.3 | -3.3 | 0.8 | -4.0 | |||
| PORTFOLIO INVESTMENT | 366.3 | -537.7 | 903.9 | 168.1 | -302.7 | 470.8 | -3.7 | -31.1 | 27.4 | 23.0 | -52.6 | 75.6 | |||
| Equity | 228.0 | -91.8 | 319.8 | 129.9 | 12.3 | 117.6 | -22.4 | -1.3 | -21.1 | 7.2 | -12.0 | 19.2 | |||
| Debt instruments | 138.3 | -445.9 | 584.2 | 38.2 | -315.0 | 353.1 | 18.7 | -29.8 | 48.5 | 15.9 | -40.6 | 56.5 | |||
| Bonds and notes | 191.4 | -351.3 | 542.7 | 119.7 | -231.8 | 351.5 | 1.8 | -26.7 | 28.5 | 36.5 | -34.7 | 71.1 | |||
| Money market instruments | -53.1 | -94.6 | 41.5 | -81.5 | -83.1 | 1.6 | 16.9 | -3.1 | 20.0 | -20.6 | -5.9 | -14.7 | |||
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | 207.6 | -877.5 | 1,085.1 | -41.7 | -672.3 | 630.6 | -26.2 | -12.3 | -13.8 | 12.6 | -62.6 | 75.3 | |||
| FINANCIAL DERIVATIVES (NET) | -12.2 | -122.7 | -14.2 | -29.7 | |||||||||||
| OTHER INVESTMENT | -89.1 | -908.5 | 819.5 | 261.3 | -603.0 | 864.3 | 61.9 | -53.9 | 115.8 | 58.6 | 31.4 | 27.2 | |||
| Eurosystem | 9.5 | -6.5 | 16.0 | 76.6 | -17.7 | 94.3 | 6.5 | -2.2 | 8.7 | 19.8 | 0.7 | 19.1 | |||
| General government | 11.9 | 6.5 | 5.4 | 4.2 | 4.3 | -0.1 | -2.1 | -1.9 | -0.3 | -5.5 | -3.9 | -1.6 | |||
| of which: currency and deposits | -1.1 | -1.1 | 1.9 | 1.9 | -1.4 | -1.4 | -3.8 | -3.8 | |||||||
| MFIs (excluding the Eurosystem) | -64.2 | -724.1 | 659.9 | 179.3 | -348.3 | 527.6 | 66.4 | -50.3 | 116.8 | 35.5 | 33.8 | 1.7 | |||
| long-term | -83.0 | -213.7 | 130.7 | -178.9 | -186.1 | 7.2 | -14.8 | -6.7 | -8.1 | -14.8 | -13.3 | -1.5 | |||
| short-term | 18.8 | -510.4 | 529.3 | 358.2 | -162.2 | 520.4 | 81.2 | -43.7 | 124.9 | 50.3 | 47.1 | 3.2 | |||
| Other sectors | -46.3 | -184.4 | 138.2 | 1.2 | -241.3 | 242.6 | -8.9 | 0.5 | -9.4 | 8.7 | 0.8 | 7.9 | |||
| of which: currency and deposits | -15.6 | -15.6 | 32.6 | 32.6 | 16.4 | 16.4 | 9.9 | 9.9 | |||||||
| RESERVE ASSETS | -8.1 | -8.1 | -7.1 | -7.1 | -3.4 | -3.4 | 2.8 | 2.8 | |||||||
| Errors and omissions | -124.8 | -99.5 | -11.4 | -24.6 | |||||||||||