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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 2017 Q1 2018
Q1 2017 Q1 2018
Net Credit Debit Net Credit Debit Net Credit Debit Net Credit Debit
Current account 381.3 3,739.3 3,358.0 403.1 3,924.3 3,521.2 64.2 934.2 870.0 80.7 946.0 865.3
Percentage of GDP1 3.5 34.4 30.9 3.6 34.8 31.3 - - - - - -
Goods 358.7 2,186.3 1,827.6 354.3 2,294.1 1,939.8 63.0 560.3 497.4 74.2 569.3 495.0
of which: General merchandise 329.9 2,115.6 1,785.7 339.7 2,236.0 1,896.2 58.9 545.0 486.1 68.2 553.2 485.0
Services 44.9 800.2 755.3 106.6 857.9 751.3 16.0 194.9 179.0 20.9 196.9 176.0
Transport 7.4 128.9 121.5 12.7 138.3 125.5 1.4 32.3 30.8 2.0 33.3 31.3
Travel 27.7 129.9 102.2 43.9 151.1 107.1 5.1 26.3 21.2 6.2 28.6 22.4
Insurance, pension and financial services 20.0 90.4 70.4 18.8 93.9 75.1 5.1 23.8 18.7 3.7 24.0 20.3
Telecommunication, computer and information services 67.0 117.5 50.5 75.9 129.7 53.8 17.0 29.3 12.3 19.2 32.2 13.0
Other business services -45.4 208.8 254.3 -15.8 215.3 231.1 -5.1 50.9 56.0 -2.2 49.8 52.0
Other -31.7 124.8 156.5 -29.0 129.7 158.6 -7.5 32.4 39.9 -8.0 29.1 37.0
Primary income 113.0 647.5 534.4 86.1 662.1 575.9 28.7 154.5 125.8 28.8 154.1 125.3
Compensation of employees 20.2 38.3 18.1 18.7 37.6 18.9 5.8 9.6 3.8 5.3 9.4 4.1
Investment income 79.3 570.8 491.5 57.1 589.5 532.5 21.6 139.0 117.4 21.5 138.2 116.8
Direct investment 148.4 343.6 195.2 118.6 347.6 229.0 28.9 82.2 53.3 25.3 80.0 54.6
of which: Reinvested earnings -5.8 25.0 30.8 -31.0 58.3 89.3 -11.7 13.2 25.0 -0.8 23.3 24.1
Portfolio investment -74.9 176.9 251.8 -67.5 187.3 254.8 -9.5 43.3 52.8 -5.9 44.4 50.2
Dividends -8.4 58.1 66.5 -10.7 62.4 73.1 5.3 13.2 7.9 4.7 13.1 8.4
Income on investment fund shares -73.2 5.0 78.2 -80.5 6.5 87.0 -16.9 1.1 17.9 -17.3 2.0 19.3
Interest 6.8 113.8 107.1 23.7 118.4 94.7 2.0 29.0 27.0 6.7 29.2 22.5
Other investment 2.4 46.8 44.4 2.0 50.7 48.7 1.3 12.5 11.3 1.0 12.8 11.9
of which: interest 3.1 42.4 39.3 2.5 45.9 43.4 1.4 11.3 10.0 1.1 11.8 10.6
Reserve assets   3.5     3.9     0.9     1.1  
Other primary income 13.5 38.4 24.9 10.3 34.9 24.6 1.3 6.0 4.7 2.0 6.4 4.4
Secondary income -135.3 105.4 240.7 -144.0 110.2 254.2 -43.5 24.4 67.8 -43.2 25.8 69.0
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 2017 Q1 2018
Q1 2017 Q1 2018
Net Credit Debit Net Credit Debit Net Credit Debit Net Credit Debit
Current account 381.3 3,739.3 3,358.0 403.1 3,924.3 3,521.2 64.2 934.2 870.0 80.7 946.0 865.3
Percentage of GDP1 3.5 34.4 30.9 3.6 34.8 31.3 - - - - - -
Goods 358.7 2,186.3 1,827.6 354.3 2,294.1 1,939.8 63.0 560.3 497.4 74.2 569.3 495.0
of which: General merchandise 329.9 2,115.6 1,785.7 339.7 2,236.0 1,896.2 58.9 545.0 486.1 68.2 553.2 485.0
Services 44.9 800.2 755.3 106.6 857.9 751.3 16.0 194.9 179.0 20.9 196.9 176.0
Transport 7.4 128.9 121.5 12.7 138.3 125.5 1.4 32.3 30.8 2.0 33.3 31.3
Travel 27.7 129.9 102.2 43.9 151.1 107.1 5.1 26.3 21.2 6.2 28.6 22.4
Insurance, pension and financial services 20.0 90.4 70.4 18.8 93.9 75.1 5.1 23.8 18.7 3.7 24.0 20.3
Telecommunication, computer and information services 67.0 117.5 50.5 75.9 129.7 53.8 17.0 29.3 12.3 19.2 32.2 13.0
Other business services -45.4 208.8 254.3 -15.8 215.3 231.1 -5.1 50.9 56.0 -2.2 49.8 52.0
Other -31.7 124.8 156.5 -29.0 129.7 158.6 -7.5 32.4 39.9 -8.0 29.1 37.0
Primary income 113.0 647.5 534.4 86.1 662.1 575.9 28.7 154.5 125.8 28.8 154.1 125.3
Compensation of employees 20.2 38.3 18.1 18.7 37.6 18.9 5.8 9.6 3.8 5.3 9.4 4.1
Investment income 79.3 570.8 491.5 57.1 589.5 532.5 21.6 139.0 117.4 21.5 138.2 116.8
Direct investment 148.4 343.6 195.2 118.6 347.6 229.0 28.9 82.2 53.3 25.3 80.0 54.6
of which: Reinvested earnings -5.8 25.0 30.8 -31.0 58.3 89.3 -11.7 13.2 25.0 -0.8 23.3 24.1
Portfolio investment -74.9 176.9 251.8 -67.5 187.3 254.8 -9.5 43.3 52.8 -5.9 44.4 50.2
Dividends -8.4 58.1 66.5 -10.7 62.4 73.1 5.3 13.2 7.9 4.7 13.1 8.4
Income on investment fund shares -73.2 5.0 78.2 -80.5 6.5 87.0 -16.9 1.1 17.9 -17.3 2.0 19.3
Interest 6.8 113.8 107.1 23.7 118.4 94.7 2.0 29.0 27.0 6.7 29.2 22.5
Other investment 2.4 46.8 44.4 2.0 50.7 48.7 1.3 12.5 11.3 1.0 12.8 11.9
of which: interest 3.1 42.4 39.3 2.5 45.9 43.4 1.4 11.3 10.0 1.1 11.8 10.6
Reserve assets   3.5     3.9     0.9     1.1  
Other primary income 13.5 38.4 24.9 10.3 34.9 24.6 1.3 6.0 4.7 2.0 6.4 4.4
Secondary income -135.3 105.4 240.7 -144.0 110.2 254.2 -43.5 24.4 67.8 -43.2 25.8 69.0
1)Four-quarter cumulated sums of non-working day and non-seasonally adjusted GDP.
Source: ECB.