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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
Q1 2016 Q1 2017
Q1 2016 Q1 2017
Net Credit Debit Net Credit Debit Net Credit Debit Net Credit Debit
Current account 348.2 3,618.3 3,270.0 374.1 3,728.0 3,354.0 68.6 853.9 785.3 69.8 933.6 863.8
Percentage of GDP1 3.3 34.3 31.0 3.5 34.4 31.0 - - - - - -
Goods 357.7 2,105.1 1,747.4 366.4 2,171.8 1,805.4 81.4 503.5 422.2 71.8 557.5 485.7
of which: General merchandise 330.4 2,038.5 1,708.1 340.2 2,103.1 1,762.9 76.4 489.4 413.0 66.4 540.4 474.0
Services 69.8 780.9 711.1 46.7 799.2 752.5 9.6 178.8 169.3 11.6 192.2 180.7
Transport 9.4 132.0 122.6 7.5 130.1 122.5 0.6 29.7 29.1 1.5 32.3 30.9
Travel 24.8 123.7 98.9 24.7 127.9 103.2 2.1 22.7 20.6 2.8 24.2 21.5
Insurance, pension and financial services 21.0 89.9 69.0 19.0 90.5 71.5 3.9 21.4 17.5 4.0 23.7 19.7
Telecommunication, computer and information services 60.8 107.0 46.2 66.8 116.3 49.5 14.6 26.3 11.7 17.0 28.9 11.9
Other business services -14.3 205.9 220.2 -41.9 210.1 252.0 -2.2 49.0 51.2 -6.1 51.0 57.1
Other -32.0 122.3 154.2 -29.5 124.3 153.8 -9.4 29.8 39.2 -7.6 32.0 39.6
Primary income 50.1 625.8 575.7 90.5 646.4 555.8 24.3 145.4 121.1 24.6 158.0 133.4
Compensation of employees 20.9 37.3 16.5 21.5 38.5 17.0 5.9 9.3 3.3 6.1 9.6 3.5
Investment income 18.3 558.6 540.3 55.8 569.1 513.3 16.5 129.9 113.4 16.8 141.7 124.8
Direct investment 101.3 332.7 231.3 125.9 344.6 218.7 28.8 77.3 48.5 23.4 84.2 60.9
of which: Reinvested earnings -12.9 36.4 49.3 4.9 30.4 25.5 8.2 19.0 10.8 3.4 26.3 22.9
Portfolio investment -83.8 183.7 267.6 -73.9 178.8 252.7 -12.3 42.5 54.8 -8.8 43.9 52.7
Dividends -0.7 65.4 66.1 -3.1 61.2 64.4 5.4 14.2 8.7 4.9 13.9 9.0
Income on investment fund shares -82.1 4.8 87.0 -74.3 5.1 79.5 -16.8 1.1 17.9 -16.8 1.2 18.0
Interest -1.0 113.5 114.5 3.5 112.4 108.8 -0.9 27.2 28.1 3.1 28.8 25.6
Other investment -2.0 39.4 41.4 0.8 42.7 41.9 -0.8 9.4 10.1 1.4 12.7 11.3
of which: interest -0.6 35.3 35.8 2.3 38.7 36.4 -0.2 8.5 8.7 1.7 11.6 9.9
Reserve assets   2.8     3.1     0.7     0.9  
Other primary income 10.9 29.8 18.9 13.3 38.8 25.5 1.9 6.3 4.3 1.7 6.8 5.1
Secondary income -129.4 106.5 235.9 -129.5 110.7 240.2 -46.6 26.2 72.8 -38.2 25.8 64.0
1)Four-quarter cumulated sums of non-working day and non-seasonally adjusted GDP.
Source: ECB.

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
Q1 2016 Q1 2017
Q1 2016 Q1 2017
Net Credit Debit Net Credit Debit Net Credit Debit Net Credit Debit
Current account 348.2 3,618.3 3,270.0 374.1 3,728.0 3,354.0 68.6 853.9 785.3 69.8 933.6 863.8
Percentage of GDP1 3.3 34.3 31.0 3.5 34.4 31.0 - - - - - -
Goods 357.7 2,105.1 1,747.4 366.4 2,171.8 1,805.4 81.4 503.5 422.2 71.8 557.5 485.7
of which: General merchandise 330.4 2,038.5 1,708.1 340.2 2,103.1 1,762.9 76.4 489.4 413.0 66.4 540.4 474.0
Services 69.8 780.9 711.1 46.7 799.2 752.5 9.6 178.8 169.3 11.6 192.2 180.7
Transport 9.4 132.0 122.6 7.5 130.1 122.5 0.6 29.7 29.1 1.5 32.3 30.9
Travel 24.8 123.7 98.9 24.7 127.9 103.2 2.1 22.7 20.6 2.8 24.2 21.5
Insurance, pension and financial services 21.0 89.9 69.0 19.0 90.5 71.5 3.9 21.4 17.5 4.0 23.7 19.7
Telecommunication, computer and information services 60.8 107.0 46.2 66.8 116.3 49.5 14.6 26.3 11.7 17.0 28.9 11.9
Other business services -14.3 205.9 220.2 -41.9 210.1 252.0 -2.2 49.0 51.2 -6.1 51.0 57.1
Other -32.0 122.3 154.2 -29.5 124.3 153.8 -9.4 29.8 39.2 -7.6 32.0 39.6
Primary income 50.1 625.8 575.7 90.5 646.4 555.8 24.3 145.4 121.1 24.6 158.0 133.4
Compensation of employees 20.9 37.3 16.5 21.5 38.5 17.0 5.9 9.3 3.3 6.1 9.6 3.5
Investment income 18.3 558.6 540.3 55.8 569.1 513.3 16.5 129.9 113.4 16.8 141.7 124.8
Direct investment 101.3 332.7 231.3 125.9 344.6 218.7 28.8 77.3 48.5 23.4 84.2 60.9
of which: Reinvested earnings -12.9 36.4 49.3 4.9 30.4 25.5 8.2 19.0 10.8 3.4 26.3 22.9
Portfolio investment -83.8 183.7 267.6 -73.9 178.8 252.7 -12.3 42.5 54.8 -8.8 43.9 52.7
Dividends -0.7 65.4 66.1 -3.1 61.2 64.4 5.4 14.2 8.7 4.9 13.9 9.0
Income on investment fund shares -82.1 4.8 87.0 -74.3 5.1 79.5 -16.8 1.1 17.9 -16.8 1.2 18.0
Interest -1.0 113.5 114.5 3.5 112.4 108.8 -0.9 27.2 28.1 3.1 28.8 25.6
Other investment -2.0 39.4 41.4 0.8 42.7 41.9 -0.8 9.4 10.1 1.4 12.7 11.3
of which: interest -0.6 35.3 35.8 2.3 38.7 36.4 -0.2 8.5 8.7 1.7 11.6 9.9
Reserve assets   2.8     3.1     0.7     0.9  
Other primary income 10.9 29.8 18.9 13.3 38.8 25.5 1.9 6.3 4.3 1.7 6.8 5.1
Secondary income -129.4 106.5 235.9 -129.5 110.7 240.2 -46.6 26.2 72.8 -38.2 25.8 64.0
1)Four-quarter cumulated sums of non-working day and non-seasonally adjusted GDP.
Source: ECB.