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						Q2 2016			Q2 2017
	Q2 2016			Q2 2017
	Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit
Current account	369.7	3,672.8	3,303.2	330.8	3,792.5	3,461.7	89.8	934.9	845.0	62.9	975.8	912.9
Percentage of GDP1	3.5	34.5	31.0	3.0	34.7	31.7	-	-	-	-	-	-
Goods	379.6	2,130.4	1,750.8	347.9	2,207.2	1,859.3	108.0	543.9	435.9	88.2	564.9	476.7
of which: General merchandise	348.9	2,059.6	1,710.7	321.7	2,137.3	1,815.6	99.3	525.1	425.8	83.2	548.4	465.2
Services	53.2	778.2	725.0	48.7	811.2	762.5	10.1	194.2	184.0	19.6	208.3	188.7
Transport	7.0	127.0	120.0	8.8	131.9	123.1	2.0	31.6	29.6	3.5	34.6	31.1
Travel	23.8	124.2	100.4	27.7	131.0	103.3	9.2	32.8	23.6	11.2	36.0	24.8
Insurance, pension and financial services	20.3	89.7	69.4	20.5	93.5	73.0	5.4	22.5	17.1	5.7	23.8	18.2
Telecommunication, computer and information services	61.1	110.6	49.5	69.6	121.6	52.0	15.8	28.4	12.6	18.4	31.0	12.6
Other business services	-26.1	204.2	230.3	-46.1	208.8	254.9	-13.4	50.4	63.7	-10.3	53.1	63.4
Other	-32.9	122.5	155.4	-31.8	124.4	156.2	-9.0	28.5	37.5	-8.8	29.9	38.6
Primary income	61.3	654.9	593.6	79.2	663.8	584.6	-5.5	166.9	172.4	-8.4	173.3	181.7
Compensation of employees	20.5	37.4	16.9	21.0	38.4	17.4	5.0	9.5	4.5	5.0	9.5	4.5
Investment income	35.0	586.9	551.8	45.9	588.0	542.0	-5.0	152.9	157.9	-7.4	159.7	167.1
Direct investment	117.9	361.8	243.9	120.5	358.7	238.2	37.1	93.1	56.0	35.2	95.4	60.1
of which: Reinvested earnings	-13.4	25.6	38.9	-9.7	39.5	49.3	4.0	3.7	-0.3	-2.5	12.8	15.3
Portfolio investment	-82.2	181.8	264.0	-76.3	183.7	260.0	-42.1	48.8	91.0	-42.9	52.6	95.6
Dividends	-1.3	63.8	65.1	-8.3	63.5	71.8	-18.2	19.6	37.8	-20.6	21.6	42.2
Income on investment fund shares	-80.3	5.1	85.4	-76.9	4.9	81.8	-24.0	1.5	25.5	-27.3	1.4	28.7
Interest	-0.6	112.9	113.5	9.0	115.3	106.4	0.1	27.8	27.7	4.9	29.6	24.6
Other investment	-3.5	40.4	43.9	-1.6	42.2	43.8	-0.7	10.2	10.9	-0.7	10.7	11.4
of which: interest	-2.0	36.2	38.2	-0.4	38.0	38.4	-0.2	9.3	9.5	-0.5	9.7	10.2
Reserve assets		2.8			3.4			0.7			1.0
Other primary income	5.8	30.6	24.8	12.3	37.4	25.1	-5.5	4.6	10.0	-5.9	4.1	10.1
Secondary income	-124.5	109.4	233.8	-145.0	110.4	255.3	-22.8	29.9	52.8	-36.5	29.3	65.8
1)Four-quarter cumulated sums of non-working day and non-seasonally adjusted GDP.
Source: ECB.