Table 1: Current account of the euro area

(EUR billions, unless otherwise indicated; transactions during the period; non-working day and non-seasonally adjusted)

	Cumulated figures for the four-quarter period ending in						Q4 2014			Q4 2015
	Q4 2014			Q4 2015
	Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit
Current account	251.3	3,402.8	3,151.4	329.5	3,591.9	3,262.3	96.5	890.0	793.5	107.8	921.6	813.7
Percentage of GDP1	2.5	33.7	31.2	3.2	34.5	31.4	-	-	-	-	-	-
Goods	247.6	1,968.8	1,721.2	321.6	2,076.5	1,754.9	79.1	513.4	434.4	90.8	528.9	438.1
of which: General merchandise	236.2	1,919.6	1,683.4	304.9	2,021.2	1,716.3	76.4	499.5	423.1	87.5	516.4	429.0
Services	75.6	707.4	631.8	66.4	765.1	698.8	15.6	185.3	169.7	14.5	200.1	185.6
Transport	5.7	129.2	123.5	6.2	133.5	127.3	1.2	32.9	31.7	-0.3	31.4	31.6
Travel	19.7	118.6	98.8	23.0	122.7	99.7	1.0	24.1	23.1	1.1	25.2	24.1
Insurance, pension and financial services	17.3	82.2	64.9	17.9	90.5	72.6	4.3	21.7	17.4	4.4	23.0	18.6
Telecommunication, computer and information services	47.5	89.6	42.2	56.8	102.1	45.3	14.3	25.6	11.3	16.7	29.2	12.5
Other business services	1.6	186.0	184.5	-8.7	201.7	210.4	-0.2	53.0	53.1	-1.1	56.3	57.5
Other	-16.2	101.8	118.0	-28.9	114.6	143.5	-5.1	27.9	33.0	-6.3	35.0	41.3
Primary income	69.8	633.6	563.8	74.8	647.1	572.2	34.1	167.3	133.2	32.8	166.5	133.7
Compensation of employees	18.2	33.0	14.8	21.3	36.7	15.4	4.7	8.4	3.8	5.5	9.4	3.9
Investment income	27.6	560.4	532.8	33.1	571.7	538.6	13.8	138.7	124.9	15.8	140.4	124.6
Direct investment	103.0	357.1	254.1	113.6	348.3	234.7	25.9	89.5	63.6	26.3	88.2	61.9
of which: Reinvested earnings	0.1	33.9	33.8	4.4	36.2	31.9	-7.6	-8.0	-0.4	32.2	7.7	-24.5
Portfolio investment	-76.5	160.4	236.9	-82.2	181.7	263.9	-12.8	38.0	50.9	-10.9	42.0	52.9
Dividends	1.6	55.4	53.7	0.2	64.2	63.9	4.1	11.1	7.0	4.8	12.4	7.6
Income on investment fund shares	-69.1	4.7	73.8	-84.5	4.3	88.8	-16.1	0.9	16.9	-18.1	1.0	19.1
Interest	-9.0	100.4	109.3	2.1	113.3	111.2	-0.8	26.1	26.9	2.3	28.6	26.2
Other investment	-1.1	40.7	41.8	-1.0	39.0	40.0	0.2	10.7	10.5	-0.2	9.6	9.8
of which: interest	-0.5	37.5	37.9	0.0	35.6	35.6	0.2	9.7	9.5	-0.1	8.5	8.6
Reserve assets		2.3			2.7			0.6			0.7
Other primary income	24.0	40.2	16.2	20.4	38.6	18.3	15.6	20.1	4.5	11.5	16.7	5.2
Secondary income	-141.6	92.9	234.5	-133.2	103.2	236.4	-32.4	23.9	56.3	-30.2	26.1	56.4
1)Four-quarter cumulated sums of non-working day and non-seasonally adjusted GDP.
Source: ECB.