In the financial account, euro area residents made net acquisitions of foreign portfolio investment securities of €548 billion in the 12-month period to May 2018 (increasing from €476 billion in the 12 months to May 2017), while non-residents’ net purchases of euro area portfolio investment securities amounted to €216 billion in the 12 months to May 2018 (up from €189 billion in the 12-month period to May 2017).