Table 1: Balance of payments of the euro area ( 1 )
(EUR billions)
| 2001 | 2002 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| March | January – March | February | January – March | ||||||||||
| 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 | 147.8 | 148.5 | −0.6 | 423.3 | 433.9 | −10.5 | 137.3 | 133.6 | 3.7 | 403.4 | 399.0 | 4.3 | |
| Goods | 92.4 | 86.4 | 6.0 | 254.5 | 249.0 | 5.5 | 89.1 | 78.3 | 10.8 | 246.0 | 224.9 | 21.1 | |
| Services | 23.9 | 25.4 | −1.5 | 68.7 | 73.7 | −5.0 | 24.0 | 25.3 | −1.2 | 69.2 | 75.5 | −6.3 | |
| Income | 25.4 | 26.4 | −1.0 | 70.6 | 79.6 | −9.1 | 18.5 | 19.6 | −1.1 | 58.2 | 66.1 | −7.9 | |
| Current transfers | 6.1 | 10.2 | −4.0 | 29.6 | 31.5 | −1.9 | 5.7 | 10.5 | −4.8 | 29.9 | 32.5 | −2.6 | |
| CAPITAL ACCOUNT | 0.7 | 0.5 | 0.1 | 4.4 | 1.5 | 2.9 | 0.6 | 0.5 | 0.2 | 4.4 | 1.5 | 2.9 | |
| Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | ||
| FINANCIAL ACCOUNT ( 2 ) | 20.6 | 30.6 | 19.6 | −12.3 | |||||||||
| DIRECT INVESTMENT ( 3 ) | −33.0 | −0.2 | −33.2 | −65.4 | 24.7 | −40.6 | −13.2 | 7.3 | −5.9 | −38.0 | 26.5 | −11.5 | |
| Equity capital and reinvested earnings | −13.0 | 8.4 | −4.7 | −26.5 | 28.7 | 2.3 | −14.9 | 6.7 | −8.2 | −26.1 | 16.4 | −9.7 | |
| Other capital, mostly intercompany loans | −20.0 | −8.5 | −28.5 | −38.9 | −4.0 | −42.9 | 1.7 | 0.5 | 2.3 | −11.9 | 10.1 | −1.8 | |
| PORTFOLIO INVESTMENT | −16.7 | 23.3 | 6.6 | −82.9 | 44.4 | −38.5 | −22.1 | 30.2 | 8.1 | −62.3 | 19.3 | −43.0 | |
| Equity | 4.3 | 6.5 | 10.8 | −29.1 | 18.7 | −10.4 | −8.3 | 12.5 | 4.2 | −28.4 | 28.1 | −0.3 | |
| Debt instruments | −21.0 | 16.8 | −4.2 | −53.8 | 25.7 | −28.1 | −13.8 | 17.7 | 3.9 | −33.9 | −8.9 | −42.8 | |
| Bonds and notes | −13.9 | 17.4 | 3.5 | −37.2 | 24.5 | −12.7 | −10.4 | 17.4 | 6.9 | −15.9 | 8.3 | −7.6 | |
| Money market instruments | −7.1 | −0.6 | −7.7 | −16.6 | 1.2 | −15.4 | −3.3 | 0.3 | −3.0 | −18.0 | −17.1 | −35.2 | |
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | −49.7 | 23.2 | −26.6 | −148.2 | 69.1 | −79.1 | −35.2 | 37.5 | 2.2 | −100.3 | 45.8 | −54.5 | |
| FINANCIAL DERIVATIVES (NET) | 3.3 | −2.0 | −5.4 | −3.4 | |||||||||
| OTHER INVESTMENT | −84.3 | 125.5 | 41.2 | −136.1 | 238.3 | 102.2 | −8.9 | 31.8 | 22.9 | 26.1 | 22.6 | 48.7 | |
| Eurosystem | −0.0 | −1.8 | −1.8 | 0.8 | −2.6 | −1.8 | 0.4 | 2.4 | 2.8 | −0.4 | 1.2 | 0.8 | |
| General government | −1.3 | 2.0 | 0.7 | 2.4 | −8.2 | −5.8 | 0.1 | 2.3 | 2.4 | 0.1 | −7.4 | −7.3 | |
| MFIs (excluding the Eurosystem) | −78.7 | 136.7 | 57.9 | −135.0 | 261.7 | 126.7 | −0.4 | 12.0 | 11.7 | 20.8 | 24.6 | 45.4 | |
| Long-term | −0.7 | −1.0 | −1.7 | −7.4 | 1.8 | −5.6 | 7.0 | 2.5 | 9.5 | 0.5 | 9.6 | 10.1 | |
| Short-term | −78.0 | 137.7 | 59.6 | −127.6 | 259.9 | 132.3 | −7.4 | 9.6 | 2.2 | 20.3 | 14.9 | 35.2 | |
| Other sectors | −4.3 | −11.3 | −15.6 | −4.3 | −12.6 | −16.8 | −9.0 | 15.0 | 6.0 | 5.5 | 4.3 | 9.8 | |
| RESERVE ASSETS | 2.7 | 2.7 | 9.5 | 9.5 | −0.2 | −0.2 | −3.0 | −3.0 | |||||
| Errors and omissions | −20.1 | −23.0 | −23.5 | 5.0 | |||||||||