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)
|
Q2 2005
|
Q3 2005 (revised)
|
Q4 2005
|
End of period
outstanding
amounts |
Transactions1) |
Other changes |
End of period
outstanding
amounts |
Transactions1) |
Other changes |
End of period outstanding
amounts |
|
|
as % of
previous end
period
outstanding
amounts |
|
as % of
previous end
period
outstanding
amounts |
|
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
|
-1019.5
|
-34.6
|
-
|
-51.2
|
-1105.2
|
12.9
|
-
|
43.8
|
-1048.5
|
-13.1
|
|
Direct investment
|
104.2
|
97.6
|
-
|
14.4
|
216.2
|
9.4
|
-
|
7.8
|
233.4
|
2.9
|
|
Abroad
|
2395.6
|
115.9
|
4.8
|
9.4
|
2520.9
|
30.7
|
1.2
|
9.2
|
2560.8
|
32.1
|
|
Equity/reinvested earnings
|
1925.5
|
92.0
|
4.8
|
4.3
|
2021.8
|
16.5
|
0.8
|
7.1
|
2045.4
|
25.6
|
|
Other capital
|
470.1
|
23.9
|
5.1
|
5.1
|
499.1
|
14.1
|
2.8
|
2.1
|
515.3
|
6.5
|
|
In the euro area
|
2291.4
|
18.3
|
0.8
|
-5.0
|
2304.7
|
21.3
|
0.9
|
1.3
|
2327.3
|
29.2
|
|
Equity/reinvested earnings
|
1680.0
|
5.5
|
0.3
|
-17.1
|
1668.4
|
15.9
|
1.0
|
4.2
|
1688.6
|
21.2
|
|
Other capital
|
611.5
|
12.8
|
2.1
|
12.0
|
636.3
|
5.3
|
0.8
|
-2.9
|
638.7
|
8.0
|
|
Portfolio investment
|
-1229.5
|
-89.8
|
-
|
-68.0
|
-1387.3
|
42.0
|
-
|
36.7
|
-1308.6
|
-16.4
|
|
Assets
|
3360.5
|
108.8
|
3.2
|
78.3
|
3547.6
|
118.6
|
3.3
|
94.9
|
3761.1
|
47.1
|
|
Equity securities
|
1376.6
|
31.9
|
2.3
|
90.6
|
1499.1
|
58.6
|
3.9
|
91.6
|
1649.3
|
20.7
|
|
Debt securities
|
1983.9
|
76.8
|
3.9
|
-12.2
|
2048.5
|
60.1
|
2.9
|
3.3
|
2111.8
|
26.5
|
|
Bonds and notes
|
1671.3
|
71.4
|
4.3
|
-6.5
|
1736.2
|
60.6
|
3.5
|
-0.5
|
1796.3
|
22.5
|
|
Money market instruments
|
312.6
|
5.4
|
1.7
|
-5.7
|
312.3
|
-0.5
|
-0.2
|
3.7
|
315.5
|
4.0
|
|
Liabilities
|
4589.9
|
198.6
|
4.3
|
146.4
|
4934.8
|
76.6
|
1.6
|
58.2
|
5069.7
|
63.5
|
|
Equity securities
|
1983.6
|
150.7
|
7.6
|
173.1
|
2307.5
|
63.2
|
2.7
|
69.8
|
2440.4
|
30.6
|
|
Debt securities
|
2606.3
|
47.9
|
1.8
|
-26.8
|
2627.4
|
13.4
|
0.5
|
-11.6
|
2629.2
|
32.9
|
|
Bonds and notes
|
2310.2
|
24.5
|
1.1
|
-34.2
|
2300.5
|
31.0
|
1.3
|
-18.0
|
2313.5
|
29.0
|
|
Money market instruments
|
296.1
|
23.4
|
7.9
|
7.4
|
326.9
|
-17.5
|
-5.4
|
6.4
|
315.7
|
4.0
|
|
Financial derivatives
|
-17.3
|
0.4
|
-
|
-5.5
|
-22.4
|
7.2
|
-
|
-2.3
|
-17.6
|
-0.2
|
|
Other investment
|
-179.2
|
-40.8
|
-
|
-3.3
|
-223.3
|
-36.9
|
-
|
-15.8
|
-276.0
|
-3.5
|
|
Assets
|
3449.5
|
108.4
|
3.1
|
-16.8
|
3541.1
|
122.3
|
3.5
|
8.7
|
3672.0
|
46.0
|
|
Eurosystem
|
5.0
|
-0.4
|
-8.9
|
-0.0
|
4.6
|
1.3
|
29.4
|
-0.4
|
5.4
|
0.1
|
|
General government
|
106.7
|
-7.7
|
-7.2
|
-0.3
|
98.7
|
2.3
|
2.4
|
0.3
|
101.3
|
1.3
|
|
MFIs excluding Eurosystem
|
2343.2
|
87.8
|
3.7
|
-5.7
|
2425.3
|
74.2
|
3.1
|
6.4
|
2505.9
|
31.4
|
|
Other sectors
|
994.6
|
28.9
|
2.9
|
-10.8
|
1012.6
|
44.4
|
4.4
|
2.3
|
1059.3
|
13.3
|
|
Liabilities
|
3628.7
|
149.2
|
4.1
|
-13.5
|
3764.4
|
159.2
|
4.2
|
24.5
|
3948.1
|
49.5
|
|
Eurosystem
|
79.2
|
4.3
|
5.5
|
0.0
|
83.5
|
-3.4
|
-4.1
|
0.2
|
80.3
|
1.0
|
|
General government
|
44.8
|
1.2
|
2.7
|
-1.2
|
44.8
|
-2.0
|
-4.6
|
0.2
|
43.0
|
0.5
|
|
MFIs excluding Eurosystem
|
2850.2
|
122.9
|
4.3
|
-3.7
|
2969.3
|
113.3
|
3.8
|
9.6
|
3092.3
|
38.7
|
|
Other sectors
|
654.5
|
20.8
|
3.2
|
-8.6
|
666.7
|
51.3
|
7.7
|
14.4
|
732.4
|
9.2
|
|
Reserve assets
|
302.3
|
-2.0
|
-0.7
|
11.3
|
311.6
|
-8.8
|
-2.8
|
17.4
|
320.3
|
4.0
|
http://www.ecb.europa.eu/press/pr/stats/bop/2006/html/bq060428_t2.en.html
