Table 2: Quarterly balance of payments and international investment position of the euro area
(EUR billions unless otherwise indicated; outstanding amounts at end of period, transactions during period)
| Q4 2004 | Q1 2005 (revised) | Q2 2005 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End of periodoutstandingamounts | Transactions1) | Other changes | End of periodoutstandingamounts | Transactions1) | Other changes | End of period outstandingamounts | |||||||||
| as % ofprevious endperiodoutstandingamounts | as % ofprevious endperiodoutstandingamounts | as % of GDP | |||||||||||||
| Source: ECB. | |||||||||||||||
| ( 1 ) In this table, contrary to the balance of payments sign convention, a positive (negative) number indicates an increase (decrease) of euro area assets. | |||||||||||||||
| Financial account balance/Net international investment position | -874.1 | -25.9 | - | -59.2 | -959.3 | -46.0 | - | -5.2 | -1010.5 | -12.8 | |||||
| Direct investment | 58.1 | 20.0 | - | 11.1 | 89.2 | 11.6 | - | 12.6 | 113.5 | 1.4 | |||||
| Abroad | 2252.4 | 32.3 | 1.4 | 39.3 | 2324.0 | 27.0 | 1.2 | 27.1 | 2378.1 | 30.2 | |||||
| Equity/reinvested earnings | 1809.8 | 15.5 | 0.9 | 33.4 | 1858.6 | 21.4 | 1.1 | 28.6 | 1908.5 | 24.2 | |||||
| Other capital | 442.6 | 16.9 | 3.8 | 5.9 | 465.3 | 5.7 | 1.2 | -1.5 | 469.6 | 6.0 | |||||
| In the euro area | 2194.3 | 12.3 | 0.6 | 28.2 | 2234.8 | 15.4 | 0.7 | 14.4 | 2264.6 | 28.7 | |||||
| Equity/reinvested earnings | 1617.8 | 12.2 | 0.8 | 10.1 | 1640.0 | 4.6 | 0.3 | 10.6 | 1655.1 | 21.0 | |||||
| Other capital | 576.5 | 0.1 | 0.0 | 18.1 | 594.7 | 10.9 | 1.8 | 3.9 | 609.5 | 7.7 | |||||
| Portfolio investment | -959.5 | -3.8 | - | -107.9 | -1071.1 | -106.7 | - | -48.3 | -1226.1 | -15.6 | |||||
| Assets | 2933.8 | 123.1 | 4.2 | 84.2 | 3141.0 | 89.7 | 2.9 | 124.5 | 3355.3 | 42.6 | |||||
| Equity securities | 1201.7 | 48.2 | 4.0 | 54.1 | 1304.0 | 0.7 | 0.1 | 71.1 | 1375.9 | 17.5 | |||||
| Debt securities | 1732.0 | 74.9 | 4.3 | 30.1 | 1837.1 | 89.0 | 4.8 | 53.4 | 1979.4 | 25.1 | |||||
| Bonds and notes | 1457.5 | 74.5 | 5.1 | 16.8 | 1548.9 | 74.3 | 4.8 | 43.8 | 1667.0 | 21.2 | |||||
| Money market instruments | 274.5 | 0.4 | 0.2 | 13.3 | 288.2 | 14.6 | 5.1 | 9.5 | 312.4 | 4.0 | |||||
| Liabilities | 3893.2 | 126.9 | 3.3 | 192.1 | 4212.2 | 196.4 | 4.7 | 172.8 | 4581.4 | 58.1 | |||||
| Equity securities | 1782.3 | 36.5 | 2.0 | 43.6 | 1862.5 | 27.6 | 1.5 | 112.9 | 2002.9 | 25.4 | |||||
| Debt securities | 2110.9 | 90.4 | 4.3 | 148.4 | 2349.7 | 168.8 | 7.2 | 59.9 | 2578.4 | 32.7 | |||||
| Bonds and notes | 1902.5 | 45.3 | 2.4 | 130.3 | 2078.1 | 155.7 | 7.5 | 50.1 | 2283.8 | 29.0 | |||||
| Money market instruments | 208.4 | 45.1 | 21.7 | 18.1 | 271.6 | 13.1 | 4.8 | 9.9 | 294.6 | 3.7 | |||||
| Financial derivatives | -14.4 | 7.2 | - | -14.1 | -21.3 | -3.2 | - | 11.0 | -13.5 | -0.2 | |||||
| Other investment | -239.0 | -44.5 | - | 42.4 | -241.0 | 55.3 | - | -1.0 | -186.7 | -2.4 | |||||
| Assets | 2893.9 | 170.6 | 5.9 | 126.7 | 3191.2 | 160.4 | 5.0 | 98.3 | 3449.9 | 43.8 | |||||
| Eurosystem | 6.8 | 0.5 | 7.8 | -3.4 | 3.9 | -1.3 | -33.8 | 2.6 | 5.2 | 0.1 | |||||
| General government | 98.8 | -4.0 | -4.0 | 2.6 | 97.5 | 7.4 | 7.6 | 1.1 | 105.9 | 1.3 | |||||
| MFIs excluding Eurosystem | 2000.6 | 126.8 | 6.3 | 48.5 | 2175.9 | 97.4 | 4.5 | 70.8 | 2344.0 | 29.7 | |||||
| Other sectors | 787.7 | 48.3 | 6.1 | 78.0 | 914.0 | 54.3 | 5.9 | 26.4 | 994.7 | 12.6 | |||||
| Liabilities | 3132.9 | 215.1 | 6.9 | 84.3 | 3432.3 | 105.1 | 3.1 | 99.2 | 3636.6 | 46.2 | |||||
| Eurosystem | 72.0 | 4.7 | 6.5 | 1.0 | 77.7 | 0.4 | 0.5 | 1.0 | 79.1 | 1.0 | |||||
| General government | 44.1 | 0.3 | 0.7 | 1.7 | 46.1 | -1.8 | -3.9 | 0.8 | 45.1 | 0.6 | |||||
| MFIs excluding Eurosystem | 2471.1 | 195.8 | 7.9 | 56.7 | 2723.7 | 45.2 | 1.7 | 83.8 | 2852.6 | 36.2 | |||||
| Other sectors | 545.7 | 14.2 | 2.6 | 24.9 | 584.8 | 61.3 | 10.5 | 13.6 | 659.7 | 8.4 | |||||
| Reserve assets | 280.7 | -4.8 | -1.7 | 9.2 | 285.0 | -3.1 | -1.1 | 20.4 | 302.3 | 3.8 | |||||