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)
Q3 2005 |
Q4 2005 (revised) |
Q1 2006 |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
End-of-period outstanding amounts |
Transactions1) | Other changes |
End-of-period outstanding amounts |
Transactions1) | Other changes |
End-of-period outstanding amounts |
|||||||||
| as % of previous end-period outstanding amounts |
as % of previous end-period outstanding amounts |
as % of GDP |
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| 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 |
-1,105.2 | 23.7 | - | 20.3 | -1,061.1 | -84.6 | - | -69.4 | -1,215.1 | -14.6 | |||||
| Direct investment | 216.2 | 20.2 | - | 22.6 | 259.1 | 14.6 | - | 8.7 | 282.4 | 3.4 | |||||
| Abroad | 2,520.9 | 47.2 | 1.9 | -3.3 | 2,564.9 | 42.0 | 1.6 | 1.7 | 2,608.6 | 31.4 | |||||
| Equity/reinvested earnings | 2,021.8 | 33.0 | 1.6 | -16.1 | 2,038.6 | 34.6 | 1.7 | 11.7 | 2,085.0 | 25.1 | |||||
| Other capital | 499.1 | 14.2 | 2.8 | 12.9 | 526.2 | 7.4 | 1.4 | -10.0 | 523.6 | 6.3 | |||||
| In the euro area | 2,304.7 | 27.0 | 1.2 | -25.9 | 2,305.8 | 27.4 | 1.2 | -7.0 | 2,326.2 | 28.0 | |||||
| Equity/reinvested earnings | 1,668.4 | 18.0 | 1.1 | -3.0 | 1,683.4 | 23.3 | 1.4 | 11.6 | 1,718.2 | 20.7 | |||||
| Other capital | 636.3 | 9.0 | 1.4 | -22.9 | 622.4 | 4.1 | 0.7 | -18.5 | 608.0 | 7.3 | |||||
| Portfolio investment | -1,387.3 | 49.1 | - | 31.2 | -1,306.9 | -31.2 | - | -87.2 | -1,425.4 | -17.2 | |||||
| Assets | 3,547.6 | 118.3 | 3.3 | 92.3 | 3,758.2 | 192.3 | 5.1 | 28.2 | 3,978.7 | 47.9 | |||||
| Equity securities | 1,499.1 | 58.7 | 3.9 | 95.1 | 1,653.0 | 97.9 | 5.9 | 46.6 | 1,797.5 | 21.7 | |||||
| Debt securities | 2,048.5 | 59.6 | 2.9 | -2.8 | 2,105.2 | 94.4 | 4.5 | -18.4 | 2,181.2 | 26.3 | |||||
| Bonds and notes | 1,736.2 | 64.0 | 3.7 | -8.4 | 1,791.8 | 87.3 | 4.9 | -15.5 | 1,863.6 | 22.5 | |||||
| Money market instruments | 312.3 | -4.5 | -1.4 | 5.6 | 313.4 | 7.1 | 2.3 | -2.9 | 317.6 | 3.8 | |||||
| Liabilities | 4,934.8 | 69.1 | 1.4 | 61.1 | 5,065.1 | 223.5 | 4.4 | 115.4 | 5,404.0 | 65.1 | |||||
| Equity securities | 2,307.5 | 62.5 | 2.7 | 68.0 | 2,438.0 | 121.3 | 5.0 | 125.0 | 2,684.3 | 32.3 | |||||
| Debt securities | 2,627.4 | 6.6 | 0.3 | -6.9 | 2,627.1 | 102.3 | 3.9 | -9.6 | 2,719.7 | 32.8 | |||||
| Bonds and notes | 2,300.5 | 26.4 | 1.1 | -7.8 | 2,319.2 | 85.6 | 3.7 | -26.2 | 2,378.6 | 28.7 | |||||
| Money market instruments | 326.9 | -19.8 | -6.1 | 0.9 | 307.9 | 16.6 | 5.4 | 16.6 | 341.1 | 4.1 | |||||
| Financial derivatives | -22.4 | 8.8 | - | -3.1 | -16.8 | 8.5 | - | 4.4 | -3.9 | -0.0 | |||||
| Other investment | -223.3 | -45.6 | - | -47.7 | -316.6 | -69.9 | - | -8.8 | -395.3 | -4.8 | |||||
| Assets | 3,541.1 | 121.5 | 3.4 | -26.6 | 3,636.1 | 222.2 | 6.1 | -8.1 | 3,850.1 | 46.4 | |||||
| Eurosystem | 4.6 | 0.8 | 17.6 | 0.2 | 5.5 | 3.4 | 60.6 | -0.5 | 8.4 | 0.1 | |||||
| General government | 98.7 | 2.3 | 2.4 | -1.8 | 99.2 | -7.5 | -7.6 | -0.5 | 91.2 | 1.1 | |||||
| MFIs excluding Eurosystem | 2,425.3 | 73.7 | 3.0 | 4.6 | 2,503.6 | 136.2 | 5.4 | -9.4 | 2,630.4 | 31.7 | |||||
| Other sectors | 1,012.6 | 44.7 | 4.4 | -29.5 | 1,027.8 | 90.1 | 8.8 | 2.2 | 1,120.1 | 13.5 | |||||
| Liabilities | 3,764.4 | 167.2 | 4.4 | 21.1 | 3,952.7 | 292.0 | 7.4 | 0.7 | 4,245.4 | 51.1 | |||||
| Eurosystem | 83.5 | -3.4 | -4.1 | 0.2 | 80.3 | 9.7 | 12.0 | -0.2 | 89.8 | 1.1 | |||||
| General government | 44.8 | -2.0 | -4.6 | 2.0 | 44.8 | -3.6 | -8.1 | 1.8 | 42.9 | 0.5 | |||||
| MFIs excluding Eurosystem | 2,969.3 | 113.3 | 3.8 | 10.9 | 3,093.5 | 222.0 | 7.2 | -26.3 | 3,289.3 | 39.6 | |||||
| Other sectors | 666.7 | 59.3 | 8.9 | 8.0 | 734.1 | 63.9 | 8.7 | 25.4 | 823.5 | 9.9 | |||||
| Reserve assets | 311.6 | -8.8 | -2.8 | 17.3 | 320.1 | -6.6 | -2.1 | 13.6 | 327.1 | 3.9 | |||||