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)
| Q1 2005 | Q2 2005 (revised) | Q3 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 | -956.7 | -43.4 | - | -7.2 | -1007.3 | -29.8 | - | -12.3 | -1049.4 | -13.2 | |||||
| Direct investment | 89.2 | 11.6 | - | 10.1 | 110.8 | 97.6 | - | 15.8 | 224.2 | 2.8 | |||||
| Abroad | 2324.0 | 25.9 | 1.1 | 36.1 | 2386.0 | 102.6 | 4.3 | 28.2 | 2516.7 | 31.6 | |||||
| Equity/reinvested earnings | 1858.6 | 20.5 | 1.1 | 31.0 | 1910.2 | 78.3 | 4.1 | 19.1 | 2007.6 | 25.2 | |||||
| Other capital | 465.3 | 5.4 | 1.2 | 5.0 | 475.8 | 24.3 | 5.1 | 9.0 | 509.1 | 6.4 | |||||
| In the euro area | 2234.8 | 14.4 | 0.6 | 26.0 | 2275.1 | 4.9 | 0.2 | 12.4 | 2292.4 | 28.8 | |||||
| Equity/reinvested earnings | 1640.0 | 4.6 | 0.3 | 20.1 | 1664.7 | -8.8 | -0.5 | 11.2 | 1667.1 | 20.9 | |||||
| Other capital | 594.7 | 9.8 | 1.6 | 5.9 | 610.5 | 13.7 | 2.2 | 1.1 | 625.3 | 7.8 | |||||
| Portfolio investment | -1071.1 | -103.3 | - | -43.0 | -1217.4 | -92.6 | - | -39.6 | -1349.6 | -16.9 | |||||
| Assets | 3141.0 | 89.3 | 2.8 | 122.8 | 3353.2 | 109.3 | 3.3 | 82.7 | 3545.2 | 44.5 | |||||
| Equity securities | 1304.0 | 0.5 | 0.0 | 69.6 | 1374.1 | 31.6 | 2.3 | 90.8 | 1496.6 | 18.8 | |||||
| Debt securities | 1837.1 | 88.8 | 4.8 | 53.2 | 1979.0 | 77.7 | 3.9 | -8.1 | 2048.6 | 25.7 | |||||
| Bonds and notes | 1548.9 | 74.3 | 4.8 | 43.3 | 1666.5 | 75.6 | 4.5 | -6.5 | 1735.5 | 21.8 | |||||
| Money market instruments | 288.2 | 14.5 | 5.0 | 9.9 | 312.6 | 2.1 | 0.7 | -1.7 | 313.1 | 3.9 | |||||
| Liabilities | 4212.2 | 192.6 | 4.6 | 165.8 | 4570.6 | 201.9 | 4.4 | 122.3 | 4894.8 | 61.4 | |||||
| Equity securities | 1862.5 | 26.7 | 1.4 | 104.7 | 1993.8 | 149.7 | 7.5 | 148.9 | 2292.4 | 28.8 | |||||
| Debt securities | 2349.7 | 166.0 | 7.1 | 61.1 | 2576.8 | 52.2 | 2.0 | -26.6 | 2602.4 | 32.7 | |||||
| Bonds and notes | 2078.1 | 151.2 | 7.3 | 60.7 | 2290.0 | 28.5 | 1.2 | -35.7 | 2282.9 | 28.7 | |||||
| Money market instruments | 271.6 | 14.7 | 5.4 | 0.4 | 286.8 | 23.7 | 8.3 | 9.0 | 319.5 | 4.0 | |||||
| Financial derivatives | -21.3 | -3.3 | - | 6.4 | -18.1 | 8.7 | - | -13.5 | -23.0 | -0.3 | |||||
| Other investment | -238.5 | 54.7 | - | -1.1 | -184.9 | -41.3 | - | 14.2 | -212.0 | -2.7 | |||||
| Assets | 3193.8 | 162.6 | 5.1 | 95.8 | 3452.2 | 104.0 | 3.0 | 9.9 | 3566.0 | 44.8 | |||||
| Eurosystem | 3.9 | 1.3 | 33.8 | -0.2 | 5.0 | -0.4 | -8.9 | -0.0 | 4.6 | 0.1 | |||||
| General government | 97.5 | 7.4 | 7.6 | 1.1 | 106.0 | -7.3 | -6.9 | 1.0 | 99.7 | 1.3 | |||||
| MFIs excluding Eurosystem | 2175.9 | 97.5 | 4.5 | 69.9 | 2343.2 | 85.5 | 3.6 | -4.4 | 2424.3 | 30.4 | |||||
| Other sectors | 916.6 | 56.4 | 6.1 | 25.0 | 998.0 | 26.2 | 2.6 | 13.3 | 1037.4 | 13.0 | |||||
| Liabilities | 3432.3 | 107.9 | 3.1 | 96.9 | 3637.0 | 145.3 | 4.0 | -4.4 | 3778.0 | 47.4 | |||||
| Eurosystem | 77.7 | 0.3 | 0.4 | 1.2 | 79.2 | 4.3 | 5.5 | 0.0 | 83.5 | 1.0 | |||||
| General government | 46.1 | -1.8 | -3.9 | 0.4 | 44.7 | 1.2 | 2.7 | -0.6 | 45.3 | 0.6 | |||||
| MFIs excluding Eurosystem | 2723.7 | 45.6 | 1.7 | 81.1 | 2850.4 | 125.0 | 4.4 | -4.0 | 2971.5 | 37.3 | |||||
| Other sectors | 584.8 | 63.8 | 10.9 | 14.2 | 662.8 | 14.7 | 2.2 | 0.2 | 677.7 | 8.5 | |||||
| Reserve assets | 285.0 | -3.1 | -1.1 | 20.4 | 302.3 | -2.2 | -0.7 | 10.8 | 310.9 | 3.9 | |||||