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 2007 | Q4 2007 (revised) | Q1 2008 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | -1,301.8 | 80.5 | - | -73.4 | -1,294.7 | -19.2 | - | 34.8 | -1,279.0 | -13.8 | |||||
| Direct investment | 489.5 | 4.3 | - | -10.3 | 483.5 | 104.8 | - | -43.0 | 545.4 | 5.9 | |||||
| Abroad | 3,385.9 | 78.9 | 2.3 | 7.4 | 3,472.3 | 143.2 | 4.1 | -79.8 | 3,535.6 | 38.0 | |||||
| Equity/reinvested earnings | 2,735.1 | 65.3 | 2.4 | 17.9 | 2,818.3 | 89.7 | 3.2 | -60.9 | 2,847.1 | 30.6 | |||||
| Other capital | 650.9 | 13.7 | 2.1 | -10.5 | 654.0 | 53.5 | 8.2 | -18.9 | 688.6 | 7.4 | |||||
| In the euro area | 2,896.4 | 74.7 | 2.6 | 17.7 | 2,988.8 | 38.4 | 1.3 | -36.9 | 2,990.3 | 32.2 | |||||
| Equity/reinvested earnings | 2,204.9 | 29.1 | 1.3 | 25.1 | 2,259.1 | 37.6 | 1.7 | -25.1 | 2,271.6 | 24.4 | |||||
| Other capital | 691.5 | 45.6 | 6.6 | -7.3 | 729.8 | 0.7 | 0.1 | -11.8 | 718.7 | 7.7 | |||||
| Portfolio investment | -1,922.7 | 62.3 | - | -144.4 | -2,004.9 | -73.4 | - | 83.8 | -1,994.5 | -21.5 | |||||
| Assets | 4,785.0 | 98.7 | 2.1 | -173.5 | 4,710.3 | 46.5 | 1.0 | -363.5 | 4,393.3 | 47.3 | |||||
| Equity securities | 2,120.5 | 17.6 | 0.8 | -91.9 | 2,046.3 | -47.3 | -2.3 | -270.0 | 1,729.0 | 18.6 | |||||
| Debt securities | 2,664.5 | 81.1 | 3.0 | -81.6 | 2,664.0 | 93.8 | 3.5 | -93.4 | 2,664.3 | 28.7 | |||||
| Bonds and notes | 2,263.6 | 70.0 | 3.1 | -73.1 | 2,260.5 | 27.1 | 1.2 | -68.9 | 2,218.7 | 23.9 | |||||
| Money market instruments | 400.9 | 11.1 | 2.8 | -8.5 | 403.5 | 66.6 | 16.5 | -24.5 | 445.6 | 4.8 | |||||
| Liabilities | 6,707.8 | 36.4 | 0.5 | -29.1 | 6,715.2 | 119.8 | 1.8 | -447.2 | 6,387.8 | 68.7 | |||||
| Equity securities | 3,300.5 | -30.6 | -0.9 | -6.7 | 3,263.2 | 45.5 | 1.4 | -412.0 | 2,896.7 | 31.2 | |||||
| Debt securities | 3,407.3 | 67.0 | 2.0 | -22.4 | 3,452.0 | 74.3 | 2.2 | -35.2 | 3,491.1 | 37.6 | |||||
| Bonds and notes | 3,039.9 | 92.9 | 3.1 | -21.5 | 3,111.3 | 68.0 | 2.2 | -30.4 | 3,148.9 | 33.9 | |||||
| Money market instruments | 367.4 | -25.8 | -7.0 | -0.9 | 340.7 | 6.3 | 1.8 | -4.8 | 342.1 | 3.7 | |||||
| Financial derivatives | -0.5 | 28.8 | - | 18.2 | 46.5 | 14.9 | - | -30.9 | 30.4 | 0.3 | |||||
| Other investment | -208.6 | -10.0 | - | 51.5 | -167.1 | -70.7 | - | 21.1 | -216.6 | -2.3 | |||||
| Assets | 5,135.2 | 92.2 | 1.8 | -49.0 | 5,178.5 | 272.8 | 5.3 | -131.1 | 5,320.1 | 57.2 | |||||
| Eurosystem | 21.3 | 3.4 | 15.9 | -1.4 | 23.3 | 9.3 | 40.0 | 0.6 | 33.2 | 0.4 | |||||
| General government | 108.5 | 1.3 | 1.2 | -2.7 | 107.1 | -5.3 | -5.0 | -2.0 | 99.8 | 1.1 | |||||
| MFIs excluding Eurosystem | 3,359.1 | 57.1 | 1.7 | -61.5 | 3,354.7 | 217.8 | 6.5 | -110.2 | 3,462.3 | 37.3 | |||||
| Other sectors | 1,646.3 | 30.4 | 1.8 | 16.7 | 1,693.3 | 51.0 | 3.0 | -19.4 | 1,724.9 | 18.6 | |||||
| Liabilities | 5,343.9 | 102.2 | 1.9 | -100.5 | 5,345.5 | 343.4 | 6.4 | -152.2 | 5,536.7 | 59.6 | |||||
| Eurosystem | 114.2 | 37.5 | 32.8 | -13.5 | 138.2 | 21.3 | 15.4 | -1.3 | 158.2 | 1.7 | |||||
| General government | 55.3 | -1.7 | -3.0 | -1.8 | 51.8 | -0.3 | -0.6 | -0.6 | 51.0 | 0.5 | |||||
| MFIs excluding Eurosystem | 3,958.6 | 50.8 | 1.3 | -65.8 | 3,943.6 | 283.9 | 7.2 | -153.8 | 4,073.8 | 43.8 | |||||
| Other sectors | 1,215.7 | 15.6 | 1.3 | -19.4 | 1,211.9 | 38.4 | 3.2 | 3.5 | 1,253.8 | 13.5 | |||||
| Reserve assets | 340.5 | -4.9 | -1.4 | 11.7 | 347.3 | 5.1 | 1.5 | 3.9 | 356.3 | 3.8 | |||||