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						December 2016			January 2017
	January 2016			January 2017
		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	319.4	3,607.5	3,288.0	355.2	3,609.6	3,254.4	46.9	328.3	281.4	2.5	284.2	281.7
	Goods	348.7	2,105.5	1,756.7	369.1	2,122.5	1,753.4	32.7	181.0	148.2	9.2	167.2	157.9
	Services	58.5	770.2	711.8	68.1	784.2	716.1	7.0	73.3	66.3	0.6	61.8	61.2
	Primary income	41.7	628.6	587.0	56.2	602.8	546.6	18.0	63.6	45.6	8.6	47.2	38.6
	Secondary income	-129.5	103.1	232.6	-138.2	100.1	238.3	-10.8	10.4	21.2	-16.0	8.0	24.0
CAPITAL ACCOUNT	-15.2	46.4	61.6	8.2	36.9	28.8	3.7	7.5	3.8	-0.1	1.9	2.0
	Net	Assets	Liabilities	Net	Assets	Liabilities	Net	Assets	Liabilities	Net	Assets	Liabilities
FINANCIAL ACCOUNT 1)	317.6	882.4	564.8	428.1	1,070.4	642.3	148.1	-180.8	-328.9	21.0	383.8	362.8
Direct investment	161.6	729.5	567.9	314.8	380.7	65.9	52.8	7.4	-45.4	16.6	108.9	92.3
Equity	159.7	564.8	405.1	241.8	399.5	157.6	49.4	32.3	-17.1	13.3	102.9	89.6
Debt instruments	1.8	164.7	162.9	73.0	-18.8	-91.7	3.3	-24.9	-28.2	3.3	6.0	2.7
Portfolio investment	279.2	395.3	116.1	388.4	385.8	-2.7	70.6	14.7	-55.9	16.9	44.4	27.4
Equity	-136.8	18.3	155.1	-149.2	41.8	191.0	-9.1	2.0	11.1	4.2	24.3	20.1
Debt securities	416.0	377.0	-39.0	537.7	344.0	-193.7	79.6	12.6	-67.0	12.7	20.1	7.4
Short-term	72.5	18.3	-54.2	-38.3	-1.0	37.3	46.3	19.8	-26.6	-26.7	-4.6	22.1
Long-term	343.4	358.7	15.3	576.0	345.0	-231.0	33.3	-7.2	-40.5	39.4	24.7	-14.7
Memo: Direct and portfolio investment	440.7	1,124.8	684.1	703.2	766.5	63.2	123.3	22.1	-101.3	33.5	153.3	119.8
Financial derivatives	97.0			15.1			6.2			4.2
Other investment	-228.4	-347.7	-119.3	-301.5	277.6	579.1	12.5	-215.1	-227.6	-11.6	231.4	243.0
Eurosystem	49.7	3.8	-45.9	-134.3	4.1	138.4	-71.0	8.4	79.4	31.9	-4.5	-36.3
MFIs (excluding the Eurosystem)	-256.1	-371.8	-115.6	-102.0	256.3	358.2	89.0	-190.9	-279.9	-22.7	236.6	259.3
General government	25.7	-9.2	-34.9	-2.6	-4.5	-1.9	6.8	-0.2	-7.0	-0.7	-2.9	-2.2
Other sectors	-47.7	29.4	77.1	-62.6	21.8	84.4	-12.4	-32.5	-20.1	-20.0	2.2	22.2
Of which: currency and deposits	-204.5	-324.9	-120.4	-382.1	94.0	476.1	107.1	-87.1	-194.2	-88.5	128.3	216.8
Reserve assets		8.3			11.2			6.1			-5.1
Errors and omissions	13.5			64.7			97.5			18.7