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Table 3: Balance of payments of the euro area with a geographical breakdown

(EUR billions, unless otherwise indicated; four-quarter cumulated transactions; non-seasonally adjusted data)

Total European Union (outside the euro area)
Total Denmark Sweden UnitedKingdom Other EUcountries EUinstitutions
2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2
( 1 ) Financial account: inflows (+); outflows (−). Reserve assets: increase (−); decrease (+).
Current account 56.0 182.8 36.3 53.5 -0.5 1.1 2.8 4.6 51.1 66.6 31.3 31.7 -48.4 -50.4
Credit 3,114.3 3,186.7 997.2 1,002.6 54.2 54.7 95.1 96.6 474.9 476.0 310.1 312.8 62.9 62.6
as a percentage of total 100.0 100.0 32.0 31.5 1.7 1.7 3.1 3.0 15.2 14.9 10.0 9.8 2.0 2.0
Debit 3,058.2 3,003.9 961.0 949.0 54.7 53.6 92.3 92.0 423.8 409.3 278.9 281.1 111.3 113.0
as a percentage of total 100.0 100.0 31.4 31.6 1.8 1.8 3.0 3.1 13.9 13.6 9.1 9.4 3.6 3.8
Goods 44.8 147.6 77.4 89.4 4.1 5.4 7.5 6.5 47.1 58.0 18.5 19.4 0.2 0.2
Credit 1,863.6 1,930.5 585.0 596.2 34.7 35.4 58.7 57.6 247.5 257.5 243.9 245.6 0.2 0.2
as a percentage of total 100.0 100.0 31.4 30.9 1.9 1.8 3.1 3.0 13.3 13.3 13.1 12.7 0.0 0.0
Debit 1,818.9 1,782.9 507.6 506.8 30.6 30.0 51.2 51.1 200.4 199.5 225.4 226.2 0.0 0.0
as a percentage of total 100.0 100.0 27.9 28.4 1.7 1.7 2.8 2.9 11.0 11.2 12.4 12.7 0.0 0.0
Services 83.8 93.8 33.8 37.0 3.1 3.4 3.2 3.8 24.9 27.4 -4.1 -4.0 6.6 6.4
Credit 608.2 637.7 186.5 194.1 12.3 12.5 17.3 19.1 116.2 119.8 33.8 36.0 6.9 6.7
as a percentage of total 100.0 100.0 30.7 30.4 2.0 2.0 2.8 3.0 19.1 18.8 5.6 5.6 1.1 1.1
Debit 524.3 543.9 152.7 157.1 9.1 9.1 14.1 15.2 91.3 92.5 37.9 40.0 0.3 0.3
as a percentage of total 100.0 100.0 29.1 28.9 1.7 1.7 2.7 2.8 17.4 17.0 7.2 7.4 0.1 0.1
Income 41.3 58.4 -11.7 -7.3 -7.6 -7.4 -8.2 -6.2 -20.1 -17.6 18.8 18.5 5.5 5.5
Credit 546.3 520.5 162.4 149.0 6.4 5.8 17.0 17.7 99.5 87.2 29.2 28.0 10.3 10.1
as a percentage of total 100.0 100.0 29.7 28.6 1.2 1.1 3.1 3.4 18.2 16.8 5.3 5.4 1.9 1.9
Debit 505.0 462.1 174.0 156.2 14.0 13.3 25.2 23.9 119.6 104.9 10.4 9.5 4.8 4.6
as a percentage of total 100.0 100.0 34.5 33.8 2.8 2.9 5.0 5.2 23.7 22.7 2.1 2.1 0.9 1.0
Current transfers -113.9 -117.0 -63.3 -65.6 -0.2 -0.3 0.4 0.4 -0.8 -1.1 -2.0 -2.2 -60.7 -62.5
Credit 96.1 98.1 63.4 63.3 0.9 1.0 2.1 2.2 11.7 11.4 3.2 3.2 45.6 45.6
as a percentage of total 100.0 100.0 65.9 64.6 0.9 1.0 2.2 2.3 12.1 11.6 3.3 3.2 47.4 46.5
Debit 210.0 215.1 126.7 128.9 1.1 1.2 1.7 1.8 12.5 12.4 5.2 5.4 106.2 108.1
as a percentage of total 100.0 100.0 60.3 59.9 0.5 0.6 0.8 0.8 5.9 5.8 2.5 2.5 50.6 50.2
Capital account 3.0 17.1 20.5 23.2 -0.3 -0.0 -0.0 -0.0 0.7 -1.3 -0.0 0.1 20.1 24.5
Credit 27.6 31.2 22.9 27.2 0.0 0.0 0.0 0.0 2.0 1.9 0.5 0.6 20.3 24.7
as a percentage of total 100.0 100.0 83.1 87.3 0.0 0.1 0.1 0.1 7.2 5.9 1.9 1.9 73.8 79.2
Debit 24.6 14.0 2.4 4.0 0.3 0.1 0.1 0.1 1.3 3.2 0.5 0.5 0.2 0.2
as a percentage of total 100.0 100.0 9.6 28.2 1.0 0.4 0.2 0.4 5.2 22.7 2.2 3.3 0.9 1.4
Financial account balance1) -44.3 -221.4 - - - - - - - - - - - -
Direct investment -36.7 -69.3 -82.4 -60.5 -2.1 11.6 -3.0 33.5 -62.1 -96.7 -15.1 -8.9 -0.0 0.0
Abroad -437.2 -284.9 -147.2 -95.3 -3.7 -0.7 -6.1 -2.8 -121.5 -79.3 -15.9 -12.6 0.0 -0.0
In the euro area 400.5 215.6 64.8 34.9 1.6 12.2 3.1 36.3 59.4 -17.4 0.8 3.7 -0.0 0.0
Portfolio investment -11.5 133.9 - - - - - - - - - - - -
Assets 58.5 -247.6 -8.7 10.1 -4.9 -5.2 -17.4 -11.2 37.5 45.9 1.5 -9.4 -25.4 -10.0
Equity 99.9 -141.4 9.2 -35.0 -2.1 -0.9 0.7 -3.4 9.4 -30.8 1.4 0.1 -0.2 0.0
Debt -41.4 -106.2 -17.9 45.1 -2.8 -4.4 -18.1 -7.8 28.1 76.7 0.1 -9.4 -25.2 -10.0
Liabilities -69.9 381.5 - - - - - - - - - - - -
Equity 23.6 253.3 - - - - - - - - - - - -
Debt -93.5 128.2 - - - - - - - - - - - -
Financial derivatives -41.0 33.2 - - - - - - - - - - - -
Other investment 58.8 -315.0 135.7 -179.5 -6.5 25.5 35.7 -1.6 60.9 -225.7 18.6 17.4 27.1 4.8
Assets -119.0 158.4 7.3 147.6 -8.7 20.0 5.9 0.4 -1.8 110.4 15.0 15.5 -3.1 1.3
Liabilities 177.9 -473.4 128.4 -327.1 2.1 5.4 29.8 -1.9 62.7 -336.1 3.6 1.9 30.2 3.5
Reserve assets -14.0 -4.1 - - - - - - - - - - - -
Errors and omissions -14.7 21.5 - - - - - - - - - - - -

Table 3: Balance of payments of the euro area with a geographical breakdown (continued)

(EUR billions, unless otherwise indicated; four-quarter cumulated transactions; non-seasonally adjusted data)

Canada Japan Switzerland United States
2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2
( 1 ) Financial account: inflows (+); outflows (−). Reserve assets: increase (−); decrease (+).
Current account 15.8 17.3 -33.2 -23.8 39.7 39.6 6.8 30.8
Credit 46.9 46.1 70.9 69.3 255.1 251.0 416.4 426.1
as a percentage of total 1.5 1.4 2.3 2.2 8.2 7.9 13.4 13.4
Debit 31.1 28.9 104.1 93.0 215.5 211.4 409.6 395.3
as a percentage of total 1.0 1.0 3.4 3.1 7.0 7.0 13.4 13.2
Goods 6.8 9.9 -9.6 -0.8 26.6 27.1 68.0 76.5
Credit 21.8 23.8 42.6 44.1 134.9 133.6 217.7 225.9
as a percentage of total 1.2 1.2 2.3 2.3 7.2 6.9 11.7 11.7
Debit 15.1 13.8 52.2 44.9 108.3 106.5 149.7 149.4
as a percentage of total 0.8 0.8 2.9 2.5 6.0 6.0 8.2 8.4
Services 3.2 3.4 4.8 5.3 13.6 11.5 -16.5 -13.9
Credit 10.2 10.7 14.7 15.0 61.9 61.0 95.4 96.3
as a percentage of total 1.7 1.7 2.4 2.3 10.2 9.6 15.7 15.1
Debit 6.9 7.2 9.9 9.7 48.2 49.4 111.9 110.2
as a percentage of total 1.3 1.3 1.9 1.8 9.2 9.1 21.3 20.3
Income 7.1 5.1 -28.5 -28.4 -0.4 1.1 -44.9 -31.7
Credit 14.2 10.9 12.7 9.4 49.3 46.9 96.6 97.8
as a percentage of total 2.6 2.1 2.3 1.8 9.0 9.0 17.7 18.8
Debit 7.1 5.8 41.3 37.8 49.7 45.8 141.5 129.5
as a percentage of total 1.4 1.2 8.2 8.2 9.8 9.9 28.0 28.0
Current transfers -1.3 -1.2 0.2 0.1 -0.1 -0.1 0.2 -0.2
Credit 0.7 0.8 0.9 0.8 9.1 9.5 6.6 6.0
as a percentage of total 0.8 0.8 0.9 0.8 9.4 9.7 6.9 6.2
Debit 2.0 2.0 0.7 0.7 9.2 9.7 6.5 6.2
as a percentage of total 1.0 0.9 0.3 0.3 4.4 4.5 3.1 2.9
Capital account -0.0 -0.0 -0.0 -0.0 0.4 0.3 -3.8 -0.9
Credit 0.0 0.0 0.0 0.1 0.7 0.9 0.3 0.4
as a percentage of total 0.1 0.1 0.1 0.2 2.7 3.0 1.1 1.2
Debit 0.1 0.1 0.1 0.1 0.4 0.7 4.1 1.3
as a percentage of total 0.2 0.5 0.2 0.5 1.4 4.6 16.6 9.4
Financial account balance1) - - - - - - - -
Direct investment -28.5 12.6 0.2 -1.2 19.4 -11.2 72.5 21.9
Abroad -25.6 -1.3 -0.2 -1.1 -28.1 -21.3 -113.9 -46.3
In the euro area -2.9 13.9 0.4 -0.1 47.5 10.0 186.4 68.2
Portfolio investment - - - - - - - -
Assets 4.5 -6.7 13.4 -37.6 1.9 -0.9 44.1 -65.7
Equity -1.9 -2.8 7.9 -21.4 1.8 -2.7 53.1 -45.9
Debt 6.3 -3.9 5.6 -16.2 0.1 1.8 -9.1 -19.8
Liabilities - - - - - - - -
Financial derivatives - - - - - - - -
Other investment -3.4 -11.0 -1.2 -8.7 59.4 -64.1 -124.5 -13.9
Assets -3.5 -7.3 5.0 -4.4 -8.4 0.6 -14.7 5.1
Liabilities 0.1 -3.7 -6.2 -4.2 67.8 -64.7 -109.8 -18.9
Reserve assets - - - - - - - -
Errors and omissions - - - - - - - -

Table 3: Balance of payments of the euro area with a geographical breakdown (continued)

(EUR billions, unless otherwise indicated; four-quarter cumulated transactions; non-seasonally adjusted data)

Offshore financial centres International organisations Other countries
of which:Hong Kong of which:Brazil China2) India Russia
2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2 2011Q3 to 2012Q2 2012Q3 to 2013Q2
Source: ECB.
( 1 ) Financial account: inflows (+); outflows (−). Reserve assets: increase (−); decrease (+).
( 2 ) Data for mainland China, excluding Hong Kong.
Current account - - - - - - -9.2 65.4 15.4 23.3 - - 4.4 4.2 -32.8 -29.3
Credit - - - - - - 1,327.7 1,391.6 62.5 64.9 153.4 152.5 40.5 39.6 119.5 126.2
as a percentage of total - - - - - - 42.6 43.7 2.0 2.0 4.9 4.8 1.3 1.2 3.8 4.0
Debit - - - - - - 1,336.9 1,326.3 47.1 41.6 - - 36.2 35.4 152.3 155.5
as a percentage of total - - - - - - 43.7 44.2 1.5 1.4 - - 1.2 1.2 5.0 5.2
Goods - - - - - - -124.3 -54.6 0.8 6.1 -88.4 -80.5 3.5 2.8 -49.6 -47.7
Credit - - - - - - 861.6 906.9 32.2 33.7 120.9 116.9 30.2 29.3 86.1 90.1
as a percentage of total - - - - - - 46.2 47.0 1.7 1.7 6.5 6.1 1.6 1.5 4.6 4.7
Debit - - - - - - 985.9 961.5 31.4 27.6 209.3 197.5 26.8 26.6 135.7 137.8
as a percentage of total - - - - - - 54.2 53.9 1.7 1.5 11.5 11.1 1.5 1.5 7.5 7.7
Services - - - - - - 44.9 50.5 4.3 5.4 5.3 7.1 0.4 0.7 9.0 9.8
Credit - - - - - - 239.5 260.6 9.8 10.8 20.0 22.6 7.7 7.7 19.4 21.0
as a percentage of total - - - - - - 39.4 40.9 1.6 1.7 3.3 3.5 1.3 1.2 3.2 3.3
Debit - - - - - - 194.6 210.2 5.5 5.4 14.7 15.5 7.3 7.0 10.3 11.2
as a percentage of total - - - - - - 37.1 38.6 1.0 1.0 2.8 2.9 1.4 1.3 2.0 2.1
Income - - - - - - 119.7 119.5 11.3 12.7 - - 1.2 1.5 8.2 9.0
Credit - - - - - - 211.2 206.5 20.1 19.9 11.8 12.3 2.4 2.4 13.6 14.5
as a percentage of total - - - - - - 38.7 39.7 3.7 3.8 2.2 2.4 0.4 0.5 2.5 2.8
Debit - - - - - - 91.5 87.0 8.8 7.3 - - 1.2 0.9 5.5 5.5
as a percentage of total - - - - - - 18.1 18.8 1.7 1.6 - - 0.2 0.2 1.1 1.2
Current transfers - - - - - - -49.5 -50.0 -1.1 -0.8 -3.5 -2.9 -0.7 -0.8 -0.4 -0.4
Credit - - - - - - 15.4 17.6 0.4 0.4 0.7 0.7 0.2 0.2 0.5 0.6
as a percentage of total - - - - - - 16.0 17.9 0.4 0.5 0.7 0.7 0.2 0.2 0.5 0.6
Debit - - - - - - 64.9 67.6 1.4 1.3 4.2 3.6 0.9 1.0 0.9 1.0
as a percentage of total - - - - - - 30.9 31.4 0.7 0.6 2.0 1.7 0.4 0.5 0.4 0.5
Capital account - - - - - - -14.1 -5.4 -0.2 -0.2 -0.3 -0.4 -0.3 -0.2 0.1 0.1
Credit - - - - - - 3.5 2.6 0.0 0.1 0.0 0.0 0.0 0.0 0.1 0.1
as a percentage of total - - - - - - 12.9 8.2 0.1 0.2 0.0 0.1 0.0 0.0 0.5 0.5
Debit - - - - - - 17.7 8.0 0.2 0.2 0.3 0.4 0.3 0.2 0.0 0.1
as a percentage of total - - - - - - 71.9 56.8 0.8 1.7 1.3 2.7 1.1 1.4 0.2 0.5
Financial account balance1) - - - - - - - - - - - - - - - -
Direct investment 26.6 29.3 -0.7 -3.5 -0.1 -0.0 -44.5 -60.2 -16.1 -8.4 -5.3 -7.5 -5.8 -3.5 -10.2 -11.2
Abroad -6.3 8.3 -7.0 -5.5 -0.0 -0.0 -115.9 -128.0 -17.7 -32.3 -13.8 -9.4 -5.1 -3.5 -15.9 -16.1
In the euro area 32.9 21.1 6.3 2.0 -0.1 -0.0 71.4 67.8 1.6 23.9 8.6 1.9 -0.7 -0.0 5.7 4.9
Portfolio investment - - - - - - - - - - - - - - - -
Assets 41.4 -4.0 1.4 -6.7 0.2 0.8 -38.3 -143.5 0.6 -10.9 0.9 -5.8 1.9 -4.8 -2.0 -8.8
Equity 20.2 -1.3 3.1 -2.4 -0.0 0.0 9.5 -32.3 1.3 -4.1 1.7 -5.0 1.1 -3.7 -0.2 -3.1
Debt 21.2 -2.7 -1.7 -4.3 0.2 0.8 -47.8 -111.2 -0.7 -6.8 -0.8 -0.7 0.8 -1.1 -1.8 -5.7
Liabilities - - - - - - - - - - - - - - - -
Financial derivatives - - - - - - - - - - - - - - - -
Other investment -53.1 -4.9 13.5 -3.1 17.8 21.4 28.2 -54.5 -7.5 -9.4 22.6 -31.5 2.4 -1.4 -4.0 6.7
Assets -33.5 32.9 10.1 3.0 4.2 -0.3 -75.5 -15.8 -0.7 0.9 -12.0 -0.1 0.3 1.4 -5.1 -5.3
Liabilities -19.7 -37.8 3.4 -6.0 13.6 21.7 103.6 -38.7 -6.8 -10.3 34.6 -31.4 2.1 -2.8 1.1 12.0
Reserve assets - - - - - - - - - - - - - - - -
Errors and omissions - - - - - - - - - - - - - - - -