Table 2: Monthly balance of payments of the euro area

(EUR billions unless otherwise indicated; transactions; non-working day and non-seasonally adjusted data)

	Cumulated figures for the 12-month period ending						December 2015			January 2016
	January 2015			January 2016
		Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit
	Source: ECB.
	1) Financial account: increases in assets and liabilities (+) and decreases in assets and liabilities (-).
	CURRENT ACCOUNT	250.0	3,400.4	3,150.4	314.4	3,547.6	3,233.2	44.8	311.9	267.1	6.3	251.0	244.8
	Goods	258.4	1,968.4	1,710.0	321.6	2,070.6	1,749.0	28.7	169.1	140.4	11.8	144.6	132.8
	Services	69.4	702.2	632.7	61.3	757.9	696.6	6.8	70.4	63.6	1.9	57.1	55.3
	Primary income	61.8	635.0	573.3	64.3	616.1	551.8	21.3	62.7	41.4	2.6	41.7	39.1
	Secondary income	-139.6	94.8	234.4	-132.8	103.0	235.8	-12.0	9.6	21.7	-10.0	7.6	17.6
CAPITAL ACCOUNT	20.0	36.8	16.8	-16.9	42.6	59.5	0.9	6.1	5.2	-0.9	2.7	3.6
	Net	Assets	Liabilities	Net	Assets	Liabilities	Net	Assets	Liabilities	Net	Assets	Liabilities
FINANCIAL ACCOUNT 1)	261.9	984.8	722.9	254.7	354.3	99.7	44.6	-207.4	-252.0	-17.7	140.7	158.4
Direct investment	44.1	175.7	131.6	56.1	388.3	332.2	5.2	7.5	2.3	15.7	7.5	-8.1
Equity	10.5	58.4	47.9	-0.2	244.1	244.3	-51.5	-56.5	-5.0	5.8	15.4	9.6
Debt instruments	33.6	117.3	83.7	56.3	144.2	87.8	56.8	64.0	7.2	9.9	-7.9	-17.8
Portfolio investment	55.7	482.1	426.4	355.2	312.8	-42.4	84.1	20.0	-64.1	30.0	-15.4	-45.3
Equity	-196.4	124.5	320.9	-118.8	9.6	128.5	-14.3	-2.9	11.5	40.1	-1.7	-41.8
Debt securities	252.1	357.7	105.5	474.0	303.1	-170.9	98.4	22.9	-75.6	-10.2	-13.7	-3.5
Short-term	120.8	83.9	-36.9	62.2	-24.7	-86.9	75.0	24.1	-51.0	-47.0	-39.0	8.0
Long-term	131.3	273.8	142.4	411.8	327.9	-83.9	23.4	-1.2	-24.6	36.9	25.3	-11.5
Memo: Direct and portfolio investment	99.8	657.9	558.0	411.3	701.1	289.8	89.3	27.5	-61.8	45.6	-7.9	-53.5
Financial derivatives	41.9			44.1			7.3			10.2
Other investment	117.1	282.0	164.9	-209.0	-399.1	-190.1	-60.1	-250.3	-190.1	-72.4	139.5	211.8
Eurosystem	4.1	-5.5	-9.6	50.8	4.4	-46.4	-1.3	2.2	3.5	16.1	-4.0	-20.1
MFIs (excluding the Eurosystem)	131.0	208.4	77.4	-260.1	-369.3	-109.2	-23.4	-219.7	-196.3	-70.7	148.1	218.8
General government	18.0	9.7	-8.3	19.7	-11.0	-30.7	0.4	-0.6	-1.0	7.9	1.7	-6.2
Other sectors	-35.9	69.4	105.3	-19.4	-23.1	-3.8	-35.8	-32.2	3.7	-25.7	-6.3	19.4
Of which: currency and deposits	94.1	180.4	86.4	-229.1	-351.5	-122.3	27.4	-141.9	-169.3	-127.5	85.1	212.6
Reserve assets		3.0			8.2			8.1			-1.1
Errors and omissions	-8.1			-42.9			-1.2			-23.1