Table 1: Balance of payments of the euro area ( 1 )
(EUR billions)
| Jan. – Dec. 2002 | January 2002 | January 2003 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 1704.5 | 1642.5 | 62.0 | 141.5 | 141.6 | −0.1 | 142.2 | 148.6 | −6.4 | ||
| Goods | 1057.4 | 924.8 | 132.7 | 79.5 | 76.4 | 3.1 | 81.0 | 79.9 | 1.1 | ||
| Services | 326.3 | 313.0 | 13.3 | 24.0 | 26.4 | −2.4 | 24.9 | 25.4 | −0.5 | ||
| Income | 235.8 | 275.0 | −39.2 | 20.4 | 26.8 | −6.4 | 18.7 | 28.8 | −10.1 | ||
| Current transfers | 84.9 | 129.8 | −44.8 | 17.5 | 11.9 | 5.6 | 17.6 | 14.5 | 3.1 | ||
| CAPITAL ACCOUNT | 19.0 | 7.1 | 11.9 | 3.0 | 0.5 | 2.6 | 2.6 | 0.5 | 2.0 | ||
| Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | |||
| FINANCIAL ACCOUNT ( 2 ) | −171.3 | −49.5 | −15.5 | ||||||||
| DIRECT INVESTMENT ( 3 ) | −151.0 | 129.9 | −21.0 | −8.5 | 8.5 | 0.0 | −12.1 | 10.4 | −1.8 | ||
| Equity capital and reinvested earnings | −129.6 | 82.6 | −47.0 | −9.4 | 3.0 | −6.5 | −6.7 | 8.1 | 1.5 | ||
| Other capital, mostly intercompany loans | −21.4 | 47.3 | 26.0 | 1.0 | 5.5 | 6.5 | −5.5 | 2.2 | −3.2 | ||
| PORTFOLIO INVESTMENT | −176.1 | 226.6 | 50.4 | −26.9 | −14.6 | −41.5 | −23.2 | 8.5 | −14.7 | ||
| Equity | −37.1 | 76.2 | 39.1 | −14.9 | 12.9 | −2.0 | 2.1 | 12.2 | 14.3 | ||
| Debt instruments | −139.0 | 150.3 | 11.3 | −12.0 | −27.5 | −39.5 | −25.3 | −3.7 | −29.0 | ||
| Bonds and notes | −83.4 | 104.4 | 21.0 | −2.4 | −15.5 | −17.9 | −17.6 | 1.6 | −16.0 | ||
| Money market instruments | −55.6 | 45.9 | −9.7 | −9.6 | −12.0 | −21.6 | −7.7 | −5.3 | −13.0 | ||
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | −327.1 | 356.5 | 29.4 | −35.4 | −6.1 | −41.5 | −35.3 | 18.8 | −16.5 | ||
| FINANCIAL DERIVATIVES (NET) | −13.8 | 3.0 | −1.5 | ||||||||
| OTHER INVESTMENT | −223.6 | 39.1 | −184.4 | 1.3 | −7.0 | −5.8 | 2.3 | −1.4 | 0.9 | ||
| Eurosystem | −1.2 | 0.1 | −1.1 | −0.7 | 2.6 | 1.9 | 0.5 | −2.4 | −1.9 | ||
| General government | −0.8 | −6.8 | −7.7 | −1.4 | −8.8 | −10.2 | −1.7 | −6.1 | −7.8 | ||
| MFIs (excluding the Eurosystem) | −164.7 | 27.4 | −137.3 | 14.3 | 0.5 | 14.8 | 17.8 | 1.9 | 19.7 | ||
| Long-term | −30.5 | 52.6 | 22.1 | −1.5 | 5.5 | 3.9 | 2.4 | 9.0 | 11.5 | ||
| Short-term | −134.3 | −25.2 | −159.4 | 15.9 | −5.0 | 10.9 | 15.4 | −7.2 | 8.2 | ||
| Other sectors | −56.8 | 18.5 | −38.3 | −10.9 | −1.3 | −12.2 | −14.3 | 5.3 | −9.1 | ||
| RESERVE ASSETS | −2.5 | −5.3 | 1.5 | ||||||||
| Errors and omissions | 97.5 | 47.1 | 19.9 | ||||||||