The balance of payments records all economic transactions between residents and non-residents within a given time period and thus shows a country’s complex economics links with the rest of the world.
Current data and changes compared with the previous month
Since 2008, receipts in the capital account have soared from below €105 billion in 2021. Expenditure has risen almost in parallel from less than €7 billion to more than €108 billion. These increases are almost entirely attributable to the rise in trade in carbon emission permits, which are recorded in the capital account as non-produced non-financial assets.
Besides emission permits, the capital account includes, amongst other things, debt forgiveness, some EU subsidies and development aid if these are intended for investment in non-financial assets (such as schools).
