Table 1: Balance of payments of the euro area ( 1 )
(EUR billions)
| 2002 | 2003 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| February | January – February | February | January – February | ||||||||||
| 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 | 132.8 | 128.1 | 4.7 | 274.5 | 270.0 | 4.5 | 131.5 | 128.3 | 3.2 | 274.7 | 278.0 | −3.2 | |
| Goods | 83.5 | 73.3 | 10.1 | 163.1 | 149.9 | 13.2 | 83.5 | 74.0 | 9.5 | 165.2 | 154.9 | 10.3 | |
| Services | 23.1 | 24.5 | −1.4 | 47.4 | 51.3 | −4.0 | 23.1 | 23.3 | −0.3 | 48.3 | 48.9 | −0.7 | |
| Income | 19.2 | 19.4 | −0.2 | 39.6 | 46.1 | −6.6 | 17.1 | 20.3 | −3.2 | 35.8 | 49.0 | −13.2 | |
| Current transfers | 7.1 | 10.9 | −3.9 | 24.5 | 22.7 | 1.8 | 7.8 | 10.7 | −2.8 | 25.4 | 25.1 | 0.3 | |
| CAPITAL ACCOUNT | 1.0 | 0.6 | 0.4 | 4.0 | 1.0 | 3.0 | 1.5 | 2.4 | −0.9 | 4.1 | 2.9 | 1.2 | |
| Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | Assets | Liabilities | Balance | ||
| FINANCIAL ACCOUNT ( 2 ) | 13.3 | −26.1 | −3.1 | −18.7 | |||||||||
| DIRECT INVESTMENT ( 3 ) | −21.4 | 12.2 | −9.1 | −28.1 | 20.1 | −7.9 | −7.0 | 7.6 | 0.7 | −17.9 | 17.7 | −0.2 | |
| Equity capital and reinvested earnings | −5.1 | 3.4 | −1.8 | −13.7 | 6.2 | −7.6 | −5.2 | 5.5 | 0.3 | −11.9 | 13.9 | 2.0 | |
| Other capital, mostly intercompany loans | −16.2 | 8.9 | −7.4 | −14.4 | 14.0 | −0.4 | −1.8 | 2.1 | 0.3 | −6.0 | 3.7 | −2.3 | |
| PORTFOLIO INVESTMENT | −18.6 | 10.1 | −8.6 | −46.1 | 4.0 | −42.1 | −23.9 | 34.6 | 10.7 | −46.6 | 51.7 | 5.2 | |
| Equity | −8.8 | 9.4 | 0.6 | −22.3 | 22.7 | 0.4 | −0.1 | 4.2 | 4.1 | 2.0 | 18.3 | 20.3 | |
| Debt instruments | −9.8 | 0.6 | −9.2 | −23.9 | −18.7 | −42.6 | −23.8 | 30.4 | 6.6 | −48.5 | 33.4 | −15.1 | |
| Bonds and notes | −5.7 | 1.2 | −4.5 | −8.7 | −10.4 | −19.1 | −25.1 | 17.8 | −7.3 | −42.1 | 22.2 | −19.9 | |
| Money market instruments | −4.2 | −0.5 | −4.7 | −15.2 | −8.3 | −23.5 | 1.3 | 12.6 | 13.9 | −6.4 | 11.3 | 4.9 | |
| MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT | −40.0 | 22.3 | −17.7 | −74.2 | 24.1 | −50.1 | −30.9 | 42.2 | 11.4 | −64.5 | 69.4 | 4.9 | |
| FINANCIAL DERIVATIVES (NET) | 2.1 | 5.4 | 0.9 | −0.1 | |||||||||
| OTHER INVESTMENT | 27.0 | −0.6 | 26.4 | 29.0 | −7.6 | 21.4 | −81.9 | 61.1 | −20.8 | −91.4 | 60.9 | −30.5 | |
| Eurosystem | −0.1 | −3.8 | −3.9 | −0.8 | −1.2 | −2.0 | −0.5 | −2.0 | −2.5 | −0.0 | −4.4 | −4.4 | |
| General government | 1.0 | −1.6 | −0.6 | −0.4 | −10.4 | −10.8 | −3.8 | −2.9 | −6.7 | −6.1 | −9.1 | −15.2 | |
| MFIs (excluding the Eurosystem) | 5.3 | 12.4 | 17.7 | 20.0 | 12.9 | 32.9 | −55.1 | 54.5 | −0.6 | −48.7 | 58.0 | 9.3 | |
| Long-term | −7.7 | 1.3 | −6.4 | −8.7 | 7.6 | −1.1 | −3.8 | 6.1 | 2.3 | −5.9 | 15.4 | 9.5 | |
| Short-term | 13.1 | 11.1 | 24.1 | 28.7 | 5.3 | 34.0 | −51.3 | 48.4 | −2.9 | −42.8 | 42.6 | −0.2 | |
| Other sectors | 20.8 | −7.6 | 13.2 | 10.2 | −8.9 | 1.4 | −22.4 | 11.4 | −11.0 | −36.5 | 16.4 | −20.1 | |
| RESERVE ASSETS | 2.5 | 2.5 | −2.9 | −2.9 | 5.4 | 5.4 | 7.0 | 7.0 | |||||
| Errors and omissions | −18.3 | 18.6 | 0.7 | 20.7 | |||||||||