Table 2: Monthly balance of payments of the euro area – non-seasonally adjusted data ( 1 )
(EUR billions)
| July 2003 | June 2003 (revised) | Monthly average, previous six months | 12-month cumulated figures ending | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| January – June 2003 | July 2003 | July 2002 | |||||||||||||
| Credit | Debit | Net | 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 | 147.4 | 146.2 | 1.2 | 139.0 | 136.2 | 2.8 | 137.6 | 138.0 | −0.4 | 1689.3 | 1650.1 | 39.2 | 1701.3 | 1669.4 | 31.9 |
| Goods | 91.5 | 76.2 | 15.3 | 86.0 | 75.1 | 10.9 | 84.9 | 77.6 | 7.3 | 1044.5 | 927.5 | 117.0 | 1041.5 | 924.5 | 117.0 |
| Services | 30.7 | 28.5 | 2.2 | 27.4 | 24.5 | 2.9 | 25.9 | 24.7 | 1.1 | 329.6 | 312.4 | 17.2 | 327.8 | 325.8 | 2.0 |
| Income | 19.4 | 29.6 | −10.2 | 20.5 | 24.8 | −4.3 | 18.9 | 24.1 | −5.3 | 229.7 | 275.5 | −45.8 | 253.7 | 291.7 | −38.0 |
| Current transfers | 5.9 | 12.0 | −6.1 | 5.2 | 11.8 | −6.7 | 7.9 | 11.5 | −3.6 | 85.4 | 134.6 | −49.2 | 78.3 | 127.4 | −49.1 |
| CAPITAL ACCOUNT | 1.3 | 0.5 | 0.8 | 2.7 | 0.4 | 2.3 | 1.6 | 0.9 | 0.8 | 19.2 | 9.3 | 9.9 | 16.9 | 7.7 | 9.2 |
| Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | |
| FINANCIAL ACCOUNT ( 2 ) | −6.0 | −21.1 | −12.3 | −166.4 | −103.3 | ||||||||||
| DIRECT INVESTMENT ( 3 ) | −7.5 | 3.9 | −3.6 | 14.9 | 9.1 | 24.0 | −8.2 | 7.5 | −0.7 | −104.7 | 95.4 | −9.3 | −184.1 | 146.9 | −37.2 |
| Equity capital and reinvested earnings | −5.9 | 4.0 | −1.9 | 4.4 | 4.2 | 8.7 | −4.3 | 4.3 | 0.0 | −82.7 | 71.9 | −10.7 | −132.6 | 78.6 | −54.0 |
| Other capital (mostly inter−company loans) | −1.6 | −0.0 | −1.6 | 10.5 | 4.9 | 15.4 | −3.9 | 3.2 | −0.7 | −22.0 | 23.4 | 1.4 | −51.5 | 68.4 | 16.9 |
| PORTFOLIO INVESTMENT | −30.7 | −4.6 | −35.3 | −45.0 | 58.0 | 12.9 | −22.5 | 28.0 | 5.5 | −198.5 | 257.4 | 58.9 | −240.1 | 355.1 | 115.0 |
| Equity | −8.1 | 13.3 | 5.2 | −14.6 | 19.6 | 4.9 | −2.2 | 4.2 | 2.0 | −9.9 | 52.1 | 42.1 | −68.1 | 173.4 | 105.3 |
| Debt instruments | −22.6 | −17.9 | −40.6 | −30.4 | 38.4 | 8.0 | −20.2 | 23.8 | 3.5 | −188.6 | 205.4 | 16.8 | −172.0 | 181.6 | 9.6 |
| Bonds and notes | −28.4 | −16.3 | −44.7 | −22.7 | 46.7 | 24.1 | −17.5 | 23.4 | 5.9 | −165.6 | 175.8 | 10.1 | −106.7 | 152.9 | 46.2 |
| Money market instruments | 5.8 | −1.7 | 4.1 | −7.7 | −8.3 | −16.1 | −2.7 | 0.4 | −2.4 | −22.9 | 29.6 | 6.7 | −65.3 | 28.7 | −36.6 |
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | −38.2 | −0.7 | −38.9 | −30.1 | 67.1 | 37.0 | −30.7 | 35.5 | 4.8 | −303.2 | 352.8 | 49.6 | −424.2 | 502.0 | 77.8 |
| FINANCIAL DERIVATIVES (NET) | −2.8 | −0.4 | −0.8 | −12.9 | −19.1 | ||||||||||
| OTHER INVESTMENT | 34.8 | −0.7 | 34.1 | −31.8 | −26.8 | −58.5 | −37.7 | 18.9 | −18.8 | −352.1 | 136.1 | −216.1 | −232.2 | 63.4 | −168.8 |
| Eurosystem | 0.1 | 1.5 | 1.7 | −0.5 | 1.6 | 1.1 | −0.1 | −0.4 | −0.4 | −0.8 | −0.9 | −1.8 | −0.7 | 3.6 | 2.9 |
| General government | −2.7 | 1.8 | −0.9 | −0.1 | −0.4 | −0.4 | −0.6 | −0.9 | −1.5 | −6.4 | −6.1 | −12.4 | 2.9 | −1.7 | 1.2 |
| MFIs (excluding the Eurosystem) | 43.7 | 2.7 | 46.4 | −36.0 | −26.1 | −62.1 | −27.5 | 15.6 | −11.9 | −255.6 | 115.5 | −140.2 | −175.3 | 48.2 | −127.1 |
| long−term | −5.1 | 7.5 | 2.4 | −6.7 | 9.1 | 2.4 | −4.3 | 3.9 | −0.4 | −56.1 | 49.5 | −6.5 | −29.3 | 36.6 | 7.3 |
| short−term | 48.8 | −4.8 | 43.9 | −29.4 | −35.2 | −64.6 | −23.3 | 11.8 | −11.5 | −199.6 | 65.9 | −133.6 | −146.0 | 11.6 | −134.4 |
| Other sectors | −6.3 | −6.8 | −13.1 | 4.9 | −1.9 | 2.9 | −9.5 | 4.5 | −5.0 | −89.3 | 27.6 | −61.7 | −59.2 | 13.3 | −45.9 |
| RESERVE ASSETS | 1.6 | 1.6 | 0.8 | 0.8 | 2.4 | 2.4 | 12.9 | 12.9 | 6.8 | 6.8 | |||||
| Errors and omissions | 4.1 | 16.0 | 11.9 | 117.3 | 62.1 | ||||||||||