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)
| Q2 2005 | Q3 2005 (revised) | Q4 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 | -1019.5 | -34.6 | - | -51.2 | -1105.2 | 12.9 | - | 43.8 | -1048.5 | -13.1 | |||||
| Direct investment | 104.2 | 97.6 | - | 14.4 | 216.2 | 9.4 | - | 7.8 | 233.4 | 2.9 | |||||
| Abroad | 2395.6 | 115.9 | 4.8 | 9.4 | 2520.9 | 30.7 | 1.2 | 9.2 | 2560.8 | 32.1 | |||||
| Equity/reinvested earnings | 1925.5 | 92.0 | 4.8 | 4.3 | 2021.8 | 16.5 | 0.8 | 7.1 | 2045.4 | 25.6 | |||||
| Other capital | 470.1 | 23.9 | 5.1 | 5.1 | 499.1 | 14.1 | 2.8 | 2.1 | 515.3 | 6.5 | |||||
| In the euro area | 2291.4 | 18.3 | 0.8 | -5.0 | 2304.7 | 21.3 | 0.9 | 1.3 | 2327.3 | 29.2 | |||||
| Equity/reinvested earnings | 1680.0 | 5.5 | 0.3 | -17.1 | 1668.4 | 15.9 | 1.0 | 4.2 | 1688.6 | 21.2 | |||||
| Other capital | 611.5 | 12.8 | 2.1 | 12.0 | 636.3 | 5.3 | 0.8 | -2.9 | 638.7 | 8.0 | |||||
| Portfolio investment | -1229.5 | -89.8 | - | -68.0 | -1387.3 | 42.0 | - | 36.7 | -1308.6 | -16.4 | |||||
| Assets | 3360.5 | 108.8 | 3.2 | 78.3 | 3547.6 | 118.6 | 3.3 | 94.9 | 3761.1 | 47.1 | |||||
| Equity securities | 1376.6 | 31.9 | 2.3 | 90.6 | 1499.1 | 58.6 | 3.9 | 91.6 | 1649.3 | 20.7 | |||||
| Debt securities | 1983.9 | 76.8 | 3.9 | -12.2 | 2048.5 | 60.1 | 2.9 | 3.3 | 2111.8 | 26.5 | |||||
| Bonds and notes | 1671.3 | 71.4 | 4.3 | -6.5 | 1736.2 | 60.6 | 3.5 | -0.5 | 1796.3 | 22.5 | |||||
| Money market instruments | 312.6 | 5.4 | 1.7 | -5.7 | 312.3 | -0.5 | -0.2 | 3.7 | 315.5 | 4.0 | |||||
| Liabilities | 4589.9 | 198.6 | 4.3 | 146.4 | 4934.8 | 76.6 | 1.6 | 58.2 | 5069.7 | 63.5 | |||||
| Equity securities | 1983.6 | 150.7 | 7.6 | 173.1 | 2307.5 | 63.2 | 2.7 | 69.8 | 2440.4 | 30.6 | |||||
| Debt securities | 2606.3 | 47.9 | 1.8 | -26.8 | 2627.4 | 13.4 | 0.5 | -11.6 | 2629.2 | 32.9 | |||||
| Bonds and notes | 2310.2 | 24.5 | 1.1 | -34.2 | 2300.5 | 31.0 | 1.3 | -18.0 | 2313.5 | 29.0 | |||||
| Money market instruments | 296.1 | 23.4 | 7.9 | 7.4 | 326.9 | -17.5 | -5.4 | 6.4 | 315.7 | 4.0 | |||||
| Financial derivatives | -17.3 | 0.4 | - | -5.5 | -22.4 | 7.2 | - | -2.3 | -17.6 | -0.2 | |||||
| Other investment | -179.2 | -40.8 | - | -3.3 | -223.3 | -36.9 | - | -15.8 | -276.0 | -3.5 | |||||
| Assets | 3449.5 | 108.4 | 3.1 | -16.8 | 3541.1 | 122.3 | 3.5 | 8.7 | 3672.0 | 46.0 | |||||
| Eurosystem | 5.0 | -0.4 | -8.9 | -0.0 | 4.6 | 1.3 | 29.4 | -0.4 | 5.4 | 0.1 | |||||
| General government | 106.7 | -7.7 | -7.2 | -0.3 | 98.7 | 2.3 | 2.4 | 0.3 | 101.3 | 1.3 | |||||
| MFIs excluding Eurosystem | 2343.2 | 87.8 | 3.7 | -5.7 | 2425.3 | 74.2 | 3.1 | 6.4 | 2505.9 | 31.4 | |||||
| Other sectors | 994.6 | 28.9 | 2.9 | -10.8 | 1012.6 | 44.4 | 4.4 | 2.3 | 1059.3 | 13.3 | |||||
| Liabilities | 3628.7 | 149.2 | 4.1 | -13.5 | 3764.4 | 159.2 | 4.2 | 24.5 | 3948.1 | 49.5 | |||||
| Eurosystem | 79.2 | 4.3 | 5.5 | 0.0 | 83.5 | -3.4 | -4.1 | 0.2 | 80.3 | 1.0 | |||||
| General government | 44.8 | 1.2 | 2.7 | -1.2 | 44.8 | -2.0 | -4.6 | 0.2 | 43.0 | 0.5 | |||||
| MFIs excluding Eurosystem | 2850.2 | 122.9 | 4.3 | -3.7 | 2969.3 | 113.3 | 3.8 | 9.6 | 3092.3 | 38.7 | |||||
| Other sectors | 654.5 | 20.8 | 3.2 | -8.6 | 666.7 | 51.3 | 7.7 | 14.4 | 732.4 | 9.2 | |||||
| Reserve assets | 302.3 | -2.0 | -0.7 | 11.3 | 311.6 | -8.8 | -2.8 | 17.4 | 320.3 | 4.0 | |||||