Table 1b: Quarterly balance of payments of the euro area with a geographical breakdown
(EUR billions, unless otherwise indicated; four-quarter cumulated transactions, non-seasonally adjusted data)
| Total | European Union 27 (outside the euro area) | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | Denmark | Sweden | UnitedKingdom | Other EUcountries | EUinstitutions | ||||||||||
| 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | ||
| Source: ECB. | |||||||||||||||
| ( 1 ) Financial account: inflows (+); outflows (−). Reserve assets: increase (−); decrease (+). | |||||||||||||||
| Current account | -25.6 | 2.4 | 89.3 | 116.8 | 6.0 | 9.1 | 3.0 | 2.7 | 77.0 | 85.1 | 39.7 | 56.4 | -36.5 | -36.5 | |
| credit | 2,140.9 | 2,407.1 | 796.9 | 910.8 | 44.6 | 49.3 | 67.7 | 76.1 | 418.2 | 469.3 | 209.9 | 255.4 | 56.5 | 60.8 | |
| debit | 2,166.5 | 2,404.7 | 707.7 | 794.1 | 38.6 | 40.2 | 64.7 | 73.5 | 341.2 | 384.2 | 170.2 | 199.0 | 93.0 | 97.3 | |
| Goods | 28.5 | 39.7 | 90.7 | 110.3 | 3.4 | 4.9 | 3.4 | 4.3 | 50.8 | 56.0 | 32.9 | 44.9 | 0.1 | 0.1 | |
| credit (exports) | 1,274.2 | 1,418.2 | 455.9 | 515.1 | 30.1 | 32.4 | 45.9 | 51.5 | 212.8 | 227.8 | 167.0 | 203.3 | 0.1 | 0.1 | |
| as percentage of total | 100.0 | 100.0 | 35.8 | 36.3 | 2.4 | 2.3 | 3.6 | 3.6 | 16.7 | 16.1 | 13.1 | 14.3 | 0.0 | 0.0 | |
| debit (imports) | 1,245.7 | 1,378.6 | 365.2 | 404.8 | 26.7 | 27.4 | 42.4 | 47.2 | 162.0 | 171.7 | 134.1 | 158.4 | 0.0 | 0.0 | |
| as percentage of total | 100.0 | 100.0 | 29.3 | 29.4 | 2.1 | 2.0 | 3.4 | 3.4 | 13.0 | 12.5 | 10.8 | 11.5 | 0.0 | 0.0 | |
| Services | 35.6 | 36.4 | 28.0 | 27.0 | 1.2 | 1.7 | 2.1 | 2.3 | 23.9 | 20.4 | -4.1 | -2.6 | 4.9 | 5.2 | |
| credit (exports) | 412.5 | 435.4 | 148.1 | 156.4 | 8.3 | 9.0 | 11.2 | 11.9 | 101.4 | 104.7 | 22.2 | 25.5 | 5.1 | 5.4 | |
| as percentage of total | 100.0 | 100.0 | 35.9 | 35.9 | 2.0 | 2.1 | 2.7 | 2.7 | 24.6 | 24.0 | 5.4 | 5.9 | 1.2 | 1.2 | |
| debit (imports) | 376.9 | 399.1 | 120.1 | 129.4 | 7.1 | 7.3 | 9.1 | 9.6 | 77.5 | 84.3 | 26.3 | 28.1 | 0.2 | 0.1 | |
| as percentage of total | 100.0 | 100.0 | 31.9 | 32.4 | 1.9 | 1.8 | 2.4 | 2.4 | 20.6 | 21.1 | 7.0 | 7.1 | 0.0 | 0.0 | |
| Income | -16.2 | 2.5 | 11.3 | 18.7 | 1.3 | 2.5 | -2.2 | -3.8 | 1.2 | 6.6 | 11.2 | 14.9 | -0.1 | -1.4 | |
| credit | 372.2 | 465.9 | 133.7 | 174.9 | 5.7 | 7.4 | 10.0 | 12.1 | 93.9 | 125.2 | 18.4 | 23.9 | 5.6 | 6.4 | |
| debit | 388.4 | 463.4 | 122.3 | 156.2 | 4.4 | 5.0 | 12.2 | 15.9 | 92.8 | 118.6 | 7.2 | 9.1 | 5.8 | 7.7 | |
| of which: investment income | -22.4 | -3.9 | 11.4 | 18.9 | 1.3 | 2.4 | -2.2 | -3.9 | 0.5 | 6.1 | 15.2 | 18.9 | -3.3 | -4.7 | |
| credit | 356.2 | 449.8 | 128.2 | 169.5 | 5.6 | 7.3 | 9.9 | 12.0 | 92.1 | 123.4 | 18.2 | 23.7 | 2.4 | 3.0 | |
| debit | 378.6 | 453.7 | 116.8 | 150.6 | 4.3 | 4.9 | 12.1 | 15.8 | 91.6 | 117.4 | 3.0 | 4.8 | 5.7 | 7.7 | |
| Current transfers | -73.5 | -76.1 | -40.7 | -39.2 | 0.0 | 0.0 | -0.3 | -0.2 | 1.1 | 2.1 | -0.2 | -0.8 | -41.3 | -40.5 | |
| credit | 82.0 | 87.5 | 59.3 | 64.5 | 0.5 | 0.5 | 0.6 | 0.7 | 10.1 | 11.7 | 2.4 | 2.6 | 45.7 | 49.0 | |
| debit | 155.5 | 163.6 | 100.0 | 103.7 | 0.4 | 0.5 | 0.9 | 0.9 | 9.0 | 9.6 | 2.6 | 3.3 | 87.0 | 89.5 | |
| Capital account | 13.1 | 13.4 | 19.9 | 19.0 | -0.0 | -0.0 | -0.0 | -0.1 | 0.1 | -0.3 | 0.0 | -0.2 | 19.8 | 19.6 | |
| credit | 25.1 | 25.5 | 21.4 | 20.8 | 0.0 | 0.0 | 0.1 | 0.0 | 1.0 | 0.8 | 0.3 | 0.1 | 20.0 | 19.8 | |
| debit | 12.0 | 12.1 | 1.5 | 1.8 | 0.0 | 0.0 | 0.1 | 0.2 | 0.9 | 1.1 | 0.3 | 0.3 | 0.2 | 0.1 | |
| Financial account balance1) | 89.7 | 32.3 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Direct investment | -214.3 | -147.6 | -108.6 | -60.9 | -1.1 | 6.8 | 10.4 | 5.7 | -99.1 | -49.5 | -18.8 | -24.0 | 0.0 | 0.1 | |
| Abroad | -306.3 | -343.2 | -176.3 | -151.2 | -1.5 | -0.1 | -0.7 | 3.0 | -141.5 | -125.6 | -32.6 | -28.4 | -0.0 | -0.0 | |
| Equity/reinvested earnings | -255.9 | -269.6 | -164.5 | -129.7 | -3.8 | -0.6 | -6.6 | 4.6 | -123.7 | -106.7 | -30.4 | -26.9 | -0.0 | -0.0 | |
| Other capital | -50.4 | -73.6 | -11.8 | -21.6 | 2.2 | 0.5 | 5.9 | -1.6 | -17.8 | -18.9 | -2.2 | -1.5 | 0.0 | -0.0 | |
| In the euro area | 92.0 | 195.5 | 67.7 | 90.4 | 0.5 | 6.9 | 11.1 | 2.7 | 42.4 | 76.1 | 13.8 | 4.5 | 0.0 | 0.1 | |
| Equity/reinvested earnings | 62.8 | 140.2 | 51.8 | 61.4 | 0.2 | 7.9 | 8.4 | -1.3 | 41.0 | 53.7 | 2.2 | 1.0 | 0.0 | 0.1 | |
| Other capital | 29.2 | 55.3 | 15.9 | 28.9 | 0.3 | -1.0 | 2.7 | 4.0 | 1.4 | 22.4 | 11.6 | 3.5 | 0.0 | 0.0 | |
| Portfolio investment | 168.1 | 362.5 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Assets | -482.4 | -445.7 | -148.1 | -101.0 | -4.7 | -7.2 | -12.8 | -14.2 | -102.7 | -80.7 | -20.1 | -0.7 | -7.8 | 1.7 | |
| Equity | -181.2 | -58.5 | -13.1 | 2.7 | 0.6 | -2.3 | -5.9 | -0.9 | -6.6 | 4.4 | -1.2 | 1.5 | -0.0 | -0.1 | |
| Debt | -301.2 | -387.2 | -135.0 | -103.7 | -5.3 | -4.9 | -6.9 | -13.3 | -96.1 | -85.1 | -19.0 | -2.2 | -7.8 | 1.8 | |
| Bonds and notes | -279.5 | -293.1 | -104.7 | -79.9 | -4.5 | -5.0 | -5.5 | -10.0 | -66.6 | -65.8 | -19.5 | -1.1 | -8.6 | 2.0 | |
| Money market instruments | -21.6 | -94.2 | -30.3 | -23.8 | -0.7 | 0.2 | -1.4 | -3.3 | -29.5 | -19.3 | 0.5 | -1.1 | 0.8 | -0.2 | |
| Liabilities | 650.5 | 808.2 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Equity | 343.8 | 276.6 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Debt | 306.7 | 531.6 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Bonds and notes | 286.8 | 520.0 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Money market instruments | 19.9 | 11.6 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Financial derivatives | -12.9 | -11.4 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Other investment | 129.1 | -162.6 | 15.3 | -214.3 | -3.7 | -16.1 | 16.6 | 8.4 | -6.7 | -192.6 | -9.4 | -22.8 | 18.5 | 8.8 | |
| Assets | -610.0 | -953.3 | -410.5 | -701.8 | -9.7 | -35.9 | 7.7 | -4.3 | -375.6 | -623.2 | -31.2 | -35.4 | -1.7 | -3.0 | |
| General government | 5.5 | -0.5 | -0.5 | -8.8 | 0.6 | -0.7 | -0.2 | 0.2 | -1.8 | -7.8 | 1.4 | 0.0 | -0.4 | -0.6 | |
| MFIs | -409.3 | -683.3 | -236.5 | -476.2 | -8.1 | -34.9 | 6.4 | -1.3 | -204.6 | -408.7 | -28.9 | -31.2 | -1.4 | -0.1 | |
| Other sectors | -206.2 | -269.5 | -173.5 | -216.8 | -2.2 | -0.4 | 1.5 | -3.2 | -169.2 | -206.7 | -3.7 | -4.2 | 0.1 | -2.3 | |
| Liabilities | 739.1 | 790.7 | 425.8 | 487.4 | 6.0 | 19.8 | 8.9 | 12.7 | 368.9 | 430.6 | 21.8 | 12.6 | 20.2 | 11.7 | |
| General government | -4.9 | 4.8 | -0.7 | 5.5 | -0.0 | 0.0 | -0.0 | 0.0 | -1.2 | 0.2 | -0.0 | -0.0 | 0.6 | 5.2 | |
| MFIs | 523.0 | 553.8 | 236.2 | 303.9 | 5.2 | 19.1 | 8.0 | 10.4 | 195.3 | 264.7 | 19.7 | 9.6 | 7.9 | 0.0 | |
| Other sectors | 221.0 | 232.1 | 190.3 | 178.1 | 0.8 | 0.7 | 0.8 | 2.2 | 174.8 | 165.7 | 2.1 | 3.0 | 11.7 | 6.5 | |
| Reserve assets | 19.7 | -8.5 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Errors and omissions | -77.1 | -48.1 | - | - | - | - | - | - | - | - | - | - | - | - | |
Table 1b: Quarterly balance of payments of the euro area with a geographical breakdown (continued)
(EUR billions, unless otherwise indicated; four-quarter cumulated transactions, non-seasonally adjusted data)
| Canada | Japan | Switzerland | United States | Offshorefinancialcentres | Internationalorganisations | Other countries | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | 2005Q2 to 2006Q1 | 2006Q2 to 2007Q1 | ||
| Source: ECB. | |||||||||||||||
| ( 1 ) Financial account: inflows (+); outflows (−). Reserve assets: increase (−); decrease (+). | |||||||||||||||
| Current account | 8.3 | 7.3 | -29.1 | -33.1 | 2.6 | 8.4 | 40.6 | 51.3 | - | - | - | - | -137.3 | -148.2 | |
| credit | 28.6 | 31.6 | 54.3 | 55.3 | 141.9 | 156.8 | 362.3 | 389.7 | - | - | - | - | 756.7 | 862.9 | |
| debit | 20.2 | 24.2 | 83.5 | 88.5 | 139.3 | 148.4 | 321.7 | 338.4 | - | - | - | - | 894.0 | 1,011.1 | |
| Goods | 6.8 | 6.6 | -18.4 | -19.8 | 7.0 | 10.7 | 69.9 | 65.5 | - | - | - | - | -127.5 | -133.6 | |
| credit (exports) | 16.5 | 17.8 | 34.1 | 34.1 | 70.9 | 80.2 | 190.2 | 199.0 | - | - | - | - | 506.6 | 572.0 | |
| as percentage of total | 1.3 | 1.3 | 2.7 | 2.4 | 5.6 | 5.7 | 14.9 | 14.0 | - | - | - | - | 39.8 | 40.3 | |
| debit (imports) | 9.7 | 11.2 | 52.5 | 53.9 | 63.9 | 69.5 | 120.3 | 133.5 | - | - | - | - | 634.1 | 705.7 | |
| as percentage of total | 0.8 | 0.8 | 4.2 | 3.9 | 5.1 | 5.0 | 9.7 | 9.7 | - | - | - | - | 50.9 | 51.2 | |
| Services | 0.2 | 0.7 | 4.1 | 3.4 | 8.1 | 11.6 | -8.2 | -6.7 | - | - | - | - | 3.4 | 0.4 | |
| credit (exports) | 5.6 | 6.5 | 11.7 | 11.1 | 40.2 | 42.5 | 77.4 | 79.2 | - | - | - | - | 129.4 | 139.8 | |
| as percentage of total | 1.4 | 1.5 | 2.8 | 2.5 | 9.7 | 9.8 | 18.8 | 18.2 | - | - | - | - | 31.4 | 32.1 | |
| debit (imports) | 5.4 | 5.8 | 7.6 | 7.6 | 32.1 | 30.9 | 85.6 | 86.0 | - | - | - | - | 126.1 | 139.4 | |
| as percentage of total | 1.4 | 1.5 | 2.0 | 1.9 | 8.5 | 7.7 | 22.7 | 21.5 | - | - | - | - | 33.5 | 34.9 | |
| Income | 2.3 | 1.3 | -15.2 | -16.5 | -13.5 | -14.4 | -19.1 | -7.8 | - | - | - | - | 18.0 | 21.2 | |
| credit | 6.0 | 6.8 | 7.8 | 9.9 | 24.4 | 28.2 | 87.7 | 104.2 | - | - | - | - | 112.6 | 141.9 | |
| debit | 3.7 | 5.5 | 23.0 | 26.5 | 37.9 | 42.7 | 106.8 | 112.0 | - | - | - | - | 94.6 | 120.6 | |
| of which: investment income | 2.3 | 1.3 | -15.1 | -16.5 | -19.2 | -20.4 | -19.7 | -8.3 | - | - | - | - | 18.0 | 21.1 | |
| credit | 5.9 | 6.7 | 7.8 | 9.9 | 18.1 | 21.8 | 86.2 | 102.7 | - | - | - | - | 110.0 | 139.2 | |
| debit | 3.6 | 5.4 | 22.9 | 26.3 | 37.3 | 42.2 | 105.9 | 111.1 | - | - | - | - | 92.0 | 118.2 | |
| Current transfers | -1.0 | -1.2 | 0.4 | -0.3 | 1.0 | 0.5 | -1.9 | 0.3 | - | - | - | - | -31.2 | -36.2 | |
| credit | 0.4 | 0.6 | 0.7 | 0.2 | 6.4 | 5.8 | 7.0 | 7.3 | - | - | - | - | 8.1 | 9.1 | |
| debit | 1.4 | 1.8 | 0.3 | 0.5 | 5.5 | 5.3 | 9.0 | 7.0 | - | - | - | - | 39.3 | 45.4 | |
| Capital account | -0.1 | -0.1 | 0.1 | 0.4 | 0.1 | -0.1 | -0.6 | -0.7 | - | - | - | - | -6.3 | -5.1 | |
| credit | 0.0 | 0.0 | 0.1 | 0.4 | 0.6 | 0.4 | 0.6 | 0.9 | - | - | - | - | 2.4 | 2.9 | |
| debit | 0.1 | 0.1 | 0.0 | 0.1 | 0.5 | 0.5 | 1.2 | 1.6 | - | - | - | - | 8.7 | 8.0 | |
| Financial account balance1) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Direct investment | -4.5 | -10.8 | -8.1 | 9.5 | -4.5 | -12.2 | -25.1 | -35.7 | -16.7 | 26.3 | 0.2 | -0.0 | -47.0 | -63.9 | |
| Abroad | -8.7 | -16.5 | -12.4 | 3.7 | -10.0 | -16.8 | -22.0 | -67.9 | -23.6 | -32.8 | 0.0 | -0.0 | -53.4 | -61.6 | |
| Equity/reinvested earnings | -7.9 | -6.8 | -12.1 | 6.0 | -13.2 | -8.6 | 1.8 | -48.4 | -12.4 | -28.5 | 0.0 | 0.0 | -47.7 | -53.6 | |
| Other capital | -0.8 | -9.6 | -0.3 | -2.4 | 3.2 | -8.2 | -23.8 | -19.5 | -11.2 | -4.3 | 0.0 | -0.0 | -5.7 | -8.0 | |
| In the euro area | 4.2 | 5.6 | 4.3 | 5.8 | 5.5 | 4.7 | -3.1 | 32.2 | 6.9 | 59.2 | 0.2 | 0.0 | 6.4 | -2.3 | |
| Equity/reinvested earnings | 3.4 | -0.0 | 3.8 | 3.0 | 4.4 | 7.9 | -22.3 | 13.9 | 12.0 | 50.4 | 0.0 | 0.0 | 9.7 | 3.6 | |
| Other capital | 0.8 | 5.7 | 0.4 | 2.9 | 1.1 | -3.2 | 19.2 | 18.2 | -5.1 | 8.8 | 0.2 | 0.0 | -3.2 | -5.9 | |
| Portfolio investment | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Assets | -9.9 | -8.1 | -33.1 | 0.4 | 2.1 | -3.7 | -100.4 | -191.7 | -72.7 | -96.6 | 0.5 | -1.0 | -120.7 | -44.0 | |
| Equity | -4.2 | 0.1 | -25.0 | 1.4 | 2.1 | 0.6 | -49.0 | -33.9 | -22.7 | -34.0 | -0.2 | -0.1 | -69.2 | 4.8 | |
| Debt | -5.7 | -8.2 | -8.1 | -1.0 | -0.0 | -4.3 | -51.5 | -157.8 | -50.1 | -62.6 | 0.7 | -0.8 | -51.4 | -48.8 | |
| Bonds and notes | -5.9 | -6.5 | -12.8 | -4.6 | -0.4 | -1.7 | -57.2 | -118.7 | -47.4 | -36.7 | 0.6 | -0.0 | -51.7 | -45.0 | |
| Money market instruments | 0.2 | -1.7 | 4.7 | 3.7 | 0.4 | -2.6 | 5.7 | -39.1 | -2.7 | -25.9 | 0.1 | -0.8 | 0.2 | -3.8 | |
| Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Equity | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Debt | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Bonds and notes | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Money market instruments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Financial derivatives | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Other investment | -6.9 | 0.4 | 26.7 | 32.8 | -19.7 | -9.9 | 27.1 | 64.5 | 44.2 | -40.2 | 12.3 | 15.8 | 30.0 | -11.7 | |
| Assets | -8.8 | -0.6 | 3.8 | 15.4 | -32.6 | -46.4 | -25.5 | -67.4 | -58.3 | -79.6 | -2.3 | -3.3 | -75.9 | -69.7 | |
| General government | 0.0 | 0.0 | 0.0 | -0.4 | -0.1 | 0.0 | 0.6 | -0.0 | 0.3 | 0.1 | -1.4 | -1.1 | 6.5 | 9.8 | |
| MFIs | -6.3 | 0.5 | 5.3 | 11.8 | -26.6 | -42.2 | -38.6 | -65.3 | -50.5 | -54.4 | -0.5 | -2.3 | -55.7 | -55.2 | |
| Other sectors | -2.4 | -1.0 | -1.5 | 4.0 | -6.0 | -4.2 | 12.4 | -2.1 | -8.1 | -25.2 | -0.4 | 0.1 | -26.7 | -24.3 | |
| Liabilities | 1.8 | 1.0 | 22.9 | 17.4 | 12.9 | 36.5 | 52.6 | 131.9 | 102.5 | 39.4 | 14.7 | 19.1 | 105.9 | 58.0 | |
| General government | 0.0 | 0.0 | -0.1 | -0.3 | -3.0 | -0.6 | -0.2 | -0.2 | -0.1 | 0.1 | -0.5 | 2.5 | -0.3 | -2.1 | |
| MFIs | 2.2 | -0.4 | 21.2 | 15.3 | 7.4 | 38.7 | 27.0 | 98.6 | 100.8 | 33.4 | 15.1 | 16.5 | 113.1 | 47.8 | |
| Other sectors | -0.4 | 1.4 | 1.8 | 2.4 | 8.5 | -1.6 | 25.8 | 33.5 | 1.7 | 5.9 | 0.0 | 0.1 | -6.9 | 12.3 | |
| Reserve assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Errors and omissions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |