Table 1: Balance of payments of the euro area ( 1 )
(EUR billions)
| 2001 | 2002 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| May | January – May | May | January – May | ||||||||||
| Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net | Credit | Debit | Net | ||
| Source: ECB. | |||||||||||||
| ( 1 ) Figures may not add up due to rounding. | |||||||||||||
| ( 2 ) Financial account: inflows (+); outflows (-). Reserve assets: increase (-); decrease (+). | |||||||||||||
| ( 3 ) Direct investment: assets refer to direct investment abroad and liabilities to direct investment in the euro area. | |||||||||||||
| CURRENT ACCOUNT | 148.3 | 150.5 | −2.2 | 710.3 | 729.7 | −19.4 | 140.8 | 140.7 | 0.1 | 690.5 | 685.1 | 5.4 | |
| Goods | 89.0 | 84.7 | 4.4 | 427.1 | 414.2 | 12.9 | 86.7 | 77.6 | 9.2 | 425.8 | 381.0 | 44.7 | |
| Services | 28.3 | 25.6 | 2.8 | 123.3 | 123.9 | −0.6 | 28.0 | 25.2 | 2.8 | 125.5 | 127.5 | −2.0 | |
| Income | 26.0 | 29.9 | −3.9 | 119.6 | 139.6 | −20.0 | 21.0 | 27.4 | −6.4 | 98.8 | 122.0 | −23.2 | |
| Current transfers | 4.9 | 10.3 | −5.4 | 40.3 | 52.1 | −11.7 | 5.1 | 10.5 | −5.5 | 40.5 | 54.6 | −14.1 | |
| CAPITAL ACCOUNT | 1.4 | 1.0 | 0.5 | 8.4 | 2.9 | 5.6 | 1.5 | 0.4 | 1.1 | 8.0 | 2.6 | 5.5 | |
| Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | ||
| FINANCIAL ACCOUNT ( 2 ) | −9.6 | 32.6 | 4.9 | −24.6 | |||||||||
| DIRECT INVESTMENT ( 3 ) | −51.8 | 10.3 | −41.5 | −124.0 | 42.7 | −81.3 | −14.6 | 19.7 | 5.1 | −63.4 | 59.4 | −4.0 | |
| Equity capital and reinvested earnings | −41.3 | 10.2 | −31.1 | −77.2 | 41.8 | −35.4 | −9.2 | 9.0 | −0.2 | −40.2 | 27.5 | −12.7 | |
| Other capital, mostly intercompany loans | −10.5 | 0.1 | −10.4 | −46.8 | 0.9 | −45.9 | −5.4 | 10.7 | 5.3 | −23.2 | 31.9 | 8.7 | |
| PORTFOLIO INVESTMENT | −28.1 | 43.2 | 15.1 | −131.7 | 89.1 | −42.6 | −26.2 | 58.2 | 32.0 | −106.7 | 95.4 | −11.3 | |
| Equity | −14.5 | 58.8 | 44.3 | −60.0 | 88.5 | 28.5 | −5.8 | 27.6 | 21.9 | −41.4 | 61.4 | 20.0 | |
| Debt instruments | −13.6 | −15.7 | −29.2 | −71.7 | 0.5 | −71.1 | −20.4 | 30.5 | 10.1 | −65.4 | 34.0 | −31.3 | |
| Bonds and notes | −17.0 | −12.8 | −29.9 | −66.1 | 8.6 | −57.4 | −12.2 | 13.9 | 1.7 | −40.3 | 24.6 | −15.7 | |
| Money market instruments | 3.5 | −2.8 | 0.7 | −5.6 | −8.1 | −13.7 | −8.3 | 16.6 | 8.4 | −25.0 | 9.4 | −15.7 | |
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | −79.9 | 53.5 | −26.4 | −255.7 | 131.7 | −123.9 | −40.8 | 77.8 | 37.1 | −170.1 | 154.8 | −15.3 | |
| FINANCIAL DERIVATIVES (NET) | 3.6 | 3.2 | −1.9 | 0.4 | |||||||||
| OTHER INVESTMENT | 2.3 | 14.5 | 16.8 | −126.7 | 267.1 | 140.4 | −63.6 | 31.3 | −32.4 | −88.6 | 71.6 | −17.1 | |
| Eurosystem | −0.3 | 1.6 | 1.4 | 0.3 | −2.5 | −2.3 | −0.1 | −0.5 | −0.6 | −0.9 | −3.6 | −4.5 | |
| General government | 1.2 | 2.4 | 3.6 | 3.4 | −6.6 | −3.2 | −1.2 | −0.6 | −1.8 | −0.4 | −9.5 | −10.0 | |
| MFIs (excluding the Eurosystem) | 4.7 | 4.9 | 9.6 | −115.8 | 282.8 | 166.9 | −56.1 | 34.5 | −21.6 | −63.7 | 82.2 | 18.5 | |
| Long-term | −7.3 | 4.2 | −3.1 | −15.0 | 11.4 | −3.7 | −5.5 | 8.4 | 2.9 | −9.1 | 27.9 | 18.8 | |
| Short-term | 12.0 | 0.7 | 12.7 | −100.8 | 271.4 | 170.6 | −50.6 | 26.1 | −24.5 | −54.7 | 54.4 | −0.3 | |
| Other sectors | −3.4 | 5.6 | 2.2 | −14.5 | −6.5 | −21.0 | −6.2 | −2.2 | −8.4 | −23.6 | 2.4 | −21.1 | |
| RESERVE ASSETS | −3.6 | −3.6 | 12.9 | 12.9 | 2.1 | 2.1 | 7.4 | 7.4 | |||||
| Errors and omissions | 11.3 | −18.8 | −6.1 | 13.7 | |||||||||