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 2008 | Q4 2008 (revised) | Q1 2009 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| End-of-periodoutstandingamounts | Transactions1) | Other changes | End-of-periodoutstandingamounts | Transactions1) | Other changes | End-of-period outstandingamounts | |||||||||
| as % ofpreviousend-periodoutstandingamounts | as % ofpreviousend-periodoutstandingamounts | 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 | -1,256.3 | -126.3 | - | -421.3 | -1,803.9 | -147.9 | - | -33.7 | -1,985.5 | -21.6 | |||||
| Direct investment | 578.7 | 77.7 | - | -137.0 | 519.4 | 38.5 | - | -15.3 | 542.5 | 5.9 | |||||
| Abroad | 3,777.4 | 47.6 | 1.3 | -82.5 | 3,742.5 | 79.3 | 2.1 | -50.1 | 3,771.7 | 41.0 | |||||
| Equity/reinvested earnings | 3,007.4 | 27.9 | 0.9 | -83.6 | 2,951.6 | 36.2 | 1.2 | -33.9 | 2,953.9 | 32.1 | |||||
| Other capital | 770.1 | 19.7 | 2.6 | 1.1 | 790.9 | 43.1 | 5.5 | -16.2 | 817.8 | 8.9 | |||||
| In the euro area | 3,198.8 | -30.1 | -0.9 | 54.5 | 3,223.1 | 40.8 | 1.3 | -34.8 | 3,229.1 | 35.1 | |||||
| Equity/reinvested earnings | 2,371.8 | 8.6 | 0.4 | 14.0 | 2,394.4 | 34.7 | 1.4 | -25.5 | 2,403.7 | 26.1 | |||||
| Other capital | 826.9 | -38.7 | -4.7 | 40.5 | 828.7 | 6.1 | 0.7 | -9.3 | 825.5 | 9.0 | |||||
| Portfolio investment | -1,748.0 | -204.2 | - | -310.1 | -2,262.3 | -179.4 | - | 21.3 | -2,420.3 | -26.3 | |||||
| Assets | 4,281.0 | -160.7 | -3.8 | -396.7 | 3,723.6 | -72.2 | -1.9 | -41.8 | 3,609.5 | 39.2 | |||||
| Equity securities | 1,510.5 | -49.9 | -3.3 | -315.8 | 1,144.8 | -34.4 | -3.0 | -56.6 | 1,053.7 | 11.5 | |||||
| Debt securities | 2,770.6 | -110.9 | -4.0 | -80.9 | 2,578.8 | -37.8 | -1.5 | 14.8 | 2,555.8 | 27.8 | |||||
| Bonds and notes | 2,287.9 | -62.1 | -2.7 | -91.6 | 2,134.3 | -57.4 | -2.7 | 12.5 | 2,089.4 | 22.7 | |||||
| Money market instruments | 482.6 | -48.8 | -10.1 | 10.7 | 444.5 | 19.7 | 4.4 | 2.3 | 466.5 | 5.1 | |||||
| Liabilities | 6,029.1 | 43.4 | 0.7 | -86.7 | 5,985.8 | 107.2 | 1.8 | -63.1 | 6,029.9 | 65.6 | |||||
| Equity securities | 2,414.9 | -42.4 | -1.8 | -237.4 | 2,135.2 | -10.9 | -0.5 | -59.3 | 2,065.0 | 22.5 | |||||
| Debt securities | 3,614.2 | 85.8 | 2.4 | 150.7 | 3,850.7 | 118.1 | 3.1 | -3.8 | 3,964.9 | 43.1 | |||||
| Bonds and notes | 3,152.6 | -20.0 | -0.6 | 122.6 | 3,255.2 | 82.1 | 2.5 | -0.1 | 3,337.3 | 36.3 | |||||
| Money market instruments | 461.6 | 105.8 | 22.9 | 28.1 | 595.4 | 36.0 | 6.0 | -3.8 | 627.6 | 6.8 | |||||
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | -1,169.4 | -126.4 | - | -447.1 | -1,742.9 | -140.9 | - | 6.0 | -1,877.8 | -20.4 | |||||
| Financial derivatives | 23.2 | 16.7 | - | -38.7 | 1.2 | -14.3 | - | -31.6 | -44.8 | -0.5 | |||||
| Other investment | -481.0 | -17.0 | - | 61.6 | -436.4 | 13.0 | - | -35.3 | -458.7 | -5.0 | |||||
| Assets | 5,476.5 | -277.1 | -5.1 | 28.8 | 5,228.2 | -233.2 | -4.5 | 49.6 | 5,044.7 | 54.9 | |||||
| Eurosystem | 34.2 | -6.9 | -20.3 | 1.5 | 28.8 | -8.2 | -28.4 | 1.1 | 21.7 | 0.2 | |||||
| General government | 100.8 | 0.0 | 0.0 | 0.4 | 101.2 | 6.5 | 6.4 | -1.0 | 106.7 | 1.2 | |||||
| MFIs excluding Eurosystem | 3,553.1 | -240.9 | -6.8 | -38.2 | 3,273.9 | -222.1 | -6.8 | 42.0 | 3,093.8 | 33.6 | |||||
| Other sectors | 1,788.5 | -29.3 | -1.6 | 65.1 | 1,824.3 | -9.4 | -0.5 | 7.5 | 1,822.5 | 19.8 | |||||
| Liabilities | 5,957.5 | -260.1 | -4.4 | -32.8 | 5,664.6 | -246.2 | -4.3 | 84.9 | 5,503.3 | 59.8 | |||||
| Eurosystem | 371.8 | 110.6 | 29.8 | -0.9 | 481.5 | -81.5 | -16.9 | 4.1 | 404.0 | 4.4 | |||||
| General government | 52.3 | 9.0 | 17.2 | 0.4 | 61.7 | -2.1 | -3.3 | -1.0 | 58.6 | 0.6 | |||||
| MFIs excluding Eurosystem | 4,197.0 | -411.7 | -9.8 | -22.5 | 3,762.9 | -112.1 | -3.0 | 57.8 | 3,708.6 | 40.3 | |||||
| Other sectors | 1,336.5 | 32.0 | 2.4 | -9.8 | 1,358.6 | -50.5 | -3.7 | 24.0 | 1,332.1 | 14.5 | |||||
| Reserve assets | 370.9 | 0.4 | 0.1 | 2.9 | 374.2 | -5.7 | -1.5 | 27.3 | 395.7 | 4.3 | |||||