Table 2: Monthly balance of payments of the euro area

(EUR billions unless otherwise indicated; transactions; non-working day and non-seasonally adjusted data)

	Cumulated figures for the 12-month period ending						November 2016			December 2016
	December 2015			December 2016
		Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit
	Source: ECB.
	1) Financial account: increases in assets and liabilities (+) and decreases in assets and liabilities (-).
	CURRENT ACCOUNT	316.6	3,614.0	3,297.3	361.8	3,579.2	3,217.5	40.8	313.0	272.2	47.0	326.8	279.8
	Goods	350.6	2,109.8	1,759.2	374.0	2,105.0	1,731.0	33.5	189.3	155.7	32.8	181.3	148.5
	Services	58.7	768.7	710.1	68.9	779.4	710.4	4.2	63.7	59.5	6.4	72.3	65.9
	Primary income	41.1	631.9	590.7	50.2	597.2	547.1	14.5	52.9	38.4	18.2	63.3	45.1
	Secondary income	-133.8	103.5	237.3	-131.3	97.6	228.9	-11.3	7.1	18.4	-10.5	9.9	20.4
CAPITAL ACCOUNT	-12.4	46.3	58.7	5.9	37.4	31.5	1.4	3.4	2.0	3.5	7.3	3.8
	Net	Assets	Liabilities	Net	Assets	Liabilities	Net	Assets	Liabilities	Net	Assets	Liabilities
FINANCIAL ACCOUNT 1)	296.9	1,059.4	762.5	387.8	899.6	511.9	20.3	43.0	22.7	144.1	-183.6	-327.6
Direct investment	243.4	820.3	577.0	278.9	292.4	13.5	29.3	51.6	22.3	52.4	7.3	-45.1
Equity	214.4	632.1	417.7	241.1	296.6	55.5	16.8	21.7	4.9	49.4	32.3	-17.1
Debt instruments	28.9	188.2	159.3	37.8	-4.2	-42.0	12.5	29.9	17.4	3.0	-25.0	-28.0
Portfolio investment	106.4	404.2	297.8	441.4	376.2	-65.2	-43.1	-20.6	22.4	69.6	14.2	-55.4
Equity	-245.5	22.0	267.5	-114.2	12.1	126.3	-26.4	-7.3	19.2	-8.7	2.0	10.6
Debt securities	351.9	382.1	30.2	555.6	364.1	-191.6	-16.6	-13.4	3.2	78.2	12.2	-66.1
Short-term	60.9	12.3	-48.6	-16.3	7.3	23.5	-1.6	-7.8	-6.2	46.3	19.8	-26.5
Long-term	291.0	369.8	78.8	571.9	356.8	-215.1	-15.0	-5.6	9.4	31.9	-7.7	-39.5
Memo: Direct and portfolio investment	349.7	1,224.5	874.7	720.3	668.6	-51.7	-13.8	31.0	44.7	121.9	21.5	-100.5
Financial derivatives	85.8			25.9			2.3			6.1
Other investment	-149.2	-261.5	-112.3	-373.6	190.0	563.5	29.6	7.5	-22.0	9.9	-217.3	-227.2
Eurosystem	-13.6	1.5	15.1	-151.0	4.3	155.3	-11.3	1.4	12.7	-71.8	8.4	80.2
MFIs (excluding the Eurosystem)	-123.6	-303.5	-179.9	-152.5	166.2	318.7	20.0	-22.5	-42.5	88.0	-191.8	-279.8
General government	19.1	-6.3	-25.4	5.7	-0.3	-6.0	0.1	-2.0	-2.1	5.9	-1.2	-7.1
Other sectors	-31.1	46.8	78.0	-75.7	19.9	95.6	20.7	30.6	9.9	-12.2	-32.7	-20.5
Of which: currency and deposits	-109.5	-245.7	-136.2	-431.1	46.4	477.5	7.0	-38.9	-45.9	104.9	-88.5	-193.4
Reserve assets		10.6			15.2			2.2			6.1
Errors and omissions	-7.3			20.1			-21.9			93.6