Economic indicators for Belgium - nbb.be · OECD November 2015 (next release May 2016); EC European...
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1 www.nbb.be 2012 2013 2014 2015 2016 0.6 0.9 0.4 1.4 - 1.4 1.8 - 1.2 - 0.9 1.2 - 1.5 -0.1 0.3 0.5 - 0.1 0.1 - 0.4 - 0.6 -0.2 - 0.2 -1.7 7.0 1.8 - 1.7 2.5 - -0.4 - -0.2 0.3 - 1.8 1.6 5.4 2.9 - 2.8 4.2 - 4.5 - 4.3 4.8 - 1.4 0.8 5.9 3.3 - 3.3 5.0 - 3.9 - 3.6 4.0 - 0.2 0.0 1.3 1.4 - 1.3 1.3 1.4 1.3 - 1.3 1.5 1.4 -0.8 -0.4 0.9 1.6 1.5 1.6 1.5 1.6 1.9 1.4 1.7 1.8 1.4 -0.5 0.0 1.3 - - 1.9 n. - - - 1.9 n. - 2.6 1.2 0.5 0.6 - 0.6 0.6 0.6 1.9 - 1.4 1.3 1.2 2.8 1.1 0.3 n. - - n. - n. - - n. - 2.6 1.3 0.4 1.0 - - - - 1.2 - - - - 2.5 1.4 0.4 0.0 0.0 0.0 0.1 0.0 1.5 0.1 0.5 0.9 0.3 2.6 1.5 0.5 0.0 - 0.0 n. - - - 0.5 n. - 3.1 2.5 0.7 0.4 - n. n. - 0.1 - n. n. - 3.5 2.1 -0.2 -0.5 - 0.0 -0.2 - -0.2 - 0.0 0.1 - 3.2 2.4 0.8 - - - - - - - - - - 3.1 2.3 2.1 - - - - - - - - - - 1.9 1.1 1.1 - - 0.7 0.9 - - - 0.8 0.8 - 1.9 1.0 0.9 - - 0.9 n. - - 1.1 n. - 1 www.nbb.be Economic indicators for Belgium N° 2016-17 29/04/2016 Economic indicators for Belgium General Statistics Departement g Summary REAL GDP Belgium Final consumption private public Gross fixed capital formation Exports of goods and services Imports of goods and serices GDP International comparison of GDP Euro area (1) EU-28 CONSUMER PRICES Belgium HICP National general index National health index International comparison of HICP Euro area (1) EU-28 LABOUR COSTS IN THE PRIVATE SECTOR (2) Belgium Labour costs per hour worked Unit labour costs International comparison Labour costs per hour worked (3) Belgium Three main neighbouring countries (4) Unit labour costs Euro area (1) EU-28 _____________________________________________________________________________________________________________________ * Sources: Belgium (NAI, NBB, FPS, EC); Euro area, EU-28 (ECB, Eurostat). ** The forecasts from the NBB for 2015 are consistent with the estimates made for the annual report (February 2016); for 2016, the forecats date from December 2015 (Economic Review) (next update June 2016). Users should be aware that estimates of this kind can sometimes be out of date owing to changes in the information available. The older the estimates, the greater this risk becomes. Publication of the estimate therefore simply means that it is the latest estimate released by the NBB. ECB monthly Bulletin March 2016 (next issue June 2016); OECD November 2015 (next release May 2016); EC European Economics Forecast Winter 2016 (next release ‘Spring 2016’) and BPN March 2016 (next release June 2016). *** Average of the credit institutions which participate in the «Belgian Prime News». (1) Euro area = EA19, except the OECD forecasts. (2) Except for the actual figures of the Euro area and the EU-28 and the EC and OECD forecasts which pertain to the whole economy. (3) Published by the Central Council for the Economy (CCE) and based on OECD data or the most recent national data for compensation per employee and CCE estimates for the number of hours worked. (4) France, Germany, Netherlands. _____________________________________________________________________________________________________________________ NBB ECB EC OECD BPN *** NBB ECB EC OECD BPN *** (percentage changes compared to the previous year) ACTUAL FIGURES * FORECASTS ** (percentage changes compared to the previous year) (percentage changes compared to the previous year) WEEKLY PUBLICATION N° 2016-17 29/04/2016
Transcript of Economic indicators for Belgium - nbb.be · OECD November 2015 (next release May 2016); EC European...
1www.nbb.be
2012 2013 2014 2015 2016
0.6 0.9 0.4 1.4 - 1.4 1.8 - 1.2 - 0.9 1.2 -1.5 -0.1 0.3 0.5 - 0.1 0.1 - 0.4 - 0.6 -0.2 -0.2 -1.7 7.0 1.8 - 1.7 2.5 - -0.4 - -0.2 0.3 -1.8 1.6 5.4 2.9 - 2.8 4.2 - 4.5 - 4.3 4.8 -1.4 0.8 5.9 3.3 - 3.3 5.0 - 3.9 - 3.6 4.0 -0.2 0.0 1.3 1.4 - 1.3 1.3 1.4 1.3 - 1.3 1.5 1.4
-0.8 -0.4 0.9 1.6 1.5 1.6 1.5 1.6 1.9 1.4 1.7 1.8 1.4-0.5 0.0 1.3 - - 1.9 n. - - - 1.9 n. -
2.6 1.2 0.5 0.6 - 0.6 0.6 0.6 1.9 - 1.4 1.3 1.22.8 1.1 0.3 n. - - n. - n. - - n. -2.6 1.3 0.4 1.0 - - - - 1.2 - - - -
2.5 1.4 0.4 0.0 0.0 0.0 0.1 0.0 1.5 0.1 0.5 0.9 0.32.6 1.5 0.5 0.0 - 0.0 n. - - - 0.5 n. -
3.1 2.5 0.7 0.4 - n. n. - 0.1 - n. n. -3.5 2.1 -0.2 -0.5 - 0.0 -0.2 - -0.2 - 0.0 0.1 -
3.2 2.4 0.8 - - - - - - - - - -3.1 2.3 2.1 - - - - - - - - - -
1.9 1.1 1.1 - - 0.7 0.9 - - - 0.8 0.8 -1.9 1.0 0.9 - - 0.9 n. - - 1.1 n. -
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Economic indicators for Belgium
General Statistics Departement
g Summary
REAL GDP
Belgium Final consumption private public Grossfixedcapitalformation Exportsofgoodsandservices Importsofgoodsandserices GDP
InternationalcomparisonofGDP Euro area(1)
EU-28
CONSUMER PRICES
Belgium HICP Nationalgeneralindex Nationalhealthindex
InternationalcomparisonofHICP Euro area(1)
EU-28
LABOUR COSTS IN THE PRIVATE SECTOR(2)
Belgium Labourcostsperhourworked Unit labour costs
International comparison Labourcostsperhourworked(3)
Belgium Three main neighbouring countries(4)
Unit labour costs Euro area(1)
EU-28
_____________________________________________________________________________________________________________________
* Sources: Belgium (NAI, NBB, FPS, EC); Euro area, EU-28 (ECB, Eurostat).** TheforecastsfromtheNBBfor2015areconsistentwiththeestimatesmadefortheannualreport(February2016);for2016,theforecatsdatefromDecember 2015 (Economic Review) (nextupdateJune2016).Usersshouldbeawarethatestimatesofthiskindcansometimesbeoutofdateowingtochangesintheinformation available.Theoldertheestimates,thegreaterthisriskbecomes.PublicationoftheestimatethereforesimplymeansthatitisthelatestestimatereleasedbytheNBB. ECBmonthlyBulletinMarch2016(nextissueJune2016); OECDNovember2015(nextreleaseMay2016); ECEuropeanEconomicsForecastWinter2016(nextrelease‘Spring2016’)andBPNMarch2016(nextreleaseJune2016).*** Averageofthecreditinstitutionswhichparticipateinthe«Belgian Prime News».(1) Euroarea=EA19,excepttheOECDforecasts.(2) ExceptfortheactualfiguresoftheEuroareaandtheEU-28andtheECandOECDforecastswhichpertaintothewholeeconomy.(3) PublishedbytheCentralCouncilfortheEconomy(CCE)andbasedonOECDdataorthemostrecentnationaldataforcompensationperemployeeandCCEestimates forthenumberofhoursworked.(4) France,Germany,Netherlands._____________________________________________________________________________________________________________________
NBB ECB EC OECD BPN*** NBB ECB EC OECD BPN***
(percentage changes compared to the previous year)
ACTUAL FIGURES* FORECASTS**
(percentage changes compared to the previous year)
(percentage changes compared to the previous year)
WEEkLy PUBLICATION N° 2016-17 29/04/2016
2www.nbb.be
2012 2013 2014 2015 2016
0.4 -0.4 0.3 0.8 - 0.9 0.7 0.8 0.9 - 0.9 0.8 0.82.5 4.3 2.3 -3.2 - -1.7 3.8 - -2.2 - -3.1 -1.1 -
16.6 -18.5 14.9 37.2 - 40.4 30.8 - 40.4 - 41.0 38.6 -13.9 23.9 13.5 -19.2 - -7.3 16.3 - -13.0 - -12.8 -4.8 -
7.6 8.4 8.5 8.4 - 8.3 8.7 8.4 8.3 - 8.0 8.6 8.0
11.3 12.0 11.6 11.0 - 11.0 10.9 11.0 10.6 - 10.5 10.4 10.010.5 10.9 10.2 - - 9.5 n. - - - 9.0 n. -
-0.6 0.3 0.1 0,0 - 0.0 n. - -0.2 - -0.1 n. --4.2 -3.0 -3.1 -2,8 - -2.9 -2.6 -2.8 -2.9 - -2.8 -2.0 -2.6
104.1 105.2 106.5 106.5 - 106.1 107.6 106.5 107.3 - 106.6 106.9 106.9
-3.7 -3.0 -2.6 -2.0 - -2.2 -1.9 -2.2 -1.8 - -1.9 -1.7 -2.0-4.3 -3.3 -3.0 - - -2.5 n. - - - -2.2 n. -
-0.1 -0.2 -0.2 0.3 - 1.6 0.1 0.3 1.4 - 2.1 1.0 1.0
1.3 2.0 2.4 - - 3.7 3.8 3.1 - - 3.6 3.7 2.90.6 1.0 0.9 - - 2.1 n. - - - 2.1 n. -
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g Summary (continued)
LABOUR MARKET
Belgium Totalemployment Unemployment
Totalemployment Unemployment
Harmonisedunemploymentrate(1)
Internationalcomparisonofharmonisedunemploymentrate(1)
Euro area(2)
EU-28
GENERAL GOVERNMENT
Belgium Primarybalance Overall balance Consolidatedgrossdebt
Internationalcomparisonofoverallbalance Euro area(2)
EU-28
CURRENT ACCOUNT
Belgium
International comparison Euro area(2)
EU-28
ACTUAL FIGURES* FORECASTS**
(annual changes in percentages)
(annual changes in thousands)
(annual averages in percentages of labour force)
(percentages of GDP)
(percentages of GDP)
______________________________________________________________________________________________________________________
* Sources: Belgium (NAI, NBB, FPS, EC); Euro area, EU-28 (ECB, Eurostat).** TheforecastsfromtheNBBfor2015areconsistentwiththeestimatesmadefortheannualreport(February2016);for2016,theforecatsdatefromDecember 2015 (Economic Review) (nextupdateJune2016).Usersshouldbeawarethatestimatesofthiskindcansometimesbeoutofdateowingtochangesintheinformation available.Theoldertheestimates,thegreaterthisriskbecomes.PublicationoftheestimatethereforesimplymeansthatitisthelatestestimatereleasedbytheNBB. ECBmonthlyBulletinMarch2016(nextissueJune2016); OECDNovember2015(nextreleaseMay2016); ECEuropeanEconomicsForecastWinter2016(nextrelease‘Spring2016’)andBPNMarch2016(nextreleaseJune2016).*** Averageofthecreditinstitutionswhichparticipateinthe«Belgian Prime News».(1) ThisseriescorrespondswiththeresultsoftheLabourForceSurvey(LFS,Populationolderthan15years),monthlyadjustedbyusingtheadministrativenational unemploymentfigures,inaccordancewiththeEurostat’smethodology.(2) Euroarea=EA19,excepttheOECDforecasts._____________________________________________________________________________________________________________________
NBB ECB EC OECD BPN*** NBB ECB EC OECD BPN***
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2014 2015 2016I II III IV I II III IV I
99012 99229 99627 99893 100193 100726 100892 101416 n.
0.4 0.2 0.4 0.3 0.3 0.5 0.2 0.5 0.2(4)
1.2 1.2 1.4 1.3 1.2 1.5 1.3 1.5 1.5(4)
0.2 0.1 0.3 0.4 0.6 0.4 0.3 0.3 0.6(4)
0.3 0.2 0.4 0.5 0.6 0.5 0.4 0.4 0.5(4)
1.1 0.8 0.8 1.0 1.3 1.6 1.6 1.6 1.6(4)
1.5 1.3 1.3 1.4 1.7 1.9 1.9 1.8 1.7(4)
0.3 0.6 0.2 0.4 1.2 1.3 1.2 1.5 n.-0.4 0.3 0.4 1.0 0.8 0.3 -0.1 -0.3 n.4.0 5.8 11.8 6.4 13.1 -0.4 -5.1 2.5 n.4.4 5.7 15.1 6.5 18.5 0.3 -7.5 3.3 n.3.6 6.2 6.0 6.8 2.7 -1.2 0.6 2.8 n.2.1 4.4 2.4 3.8 2.3 -2.3 0.1 -2.5 n.5.3 6.0 5.7 4.5 4.5 4.1 4.9 5.8 n.4.4 6.1 8.2 4.9 8.0 4.0 2.9 6.0 n.1.2 1.2 1.4 1.3 1.2 1.5 1.3 1.5 1.5(5)
2.9 1.3 2.4 0.4 0.1 0.8 -0.2 1.1 n.4.5 3.3 2.5 2.7 -0.5 2.3 3.0 3.5 n.0.6 1.0 1.1 1.4 1.6 1.7 1.5 1.5 n.1.2 1.2 1.4 1.3 1.2 1.5 1.3 1.5 1.5(5)
2008
2009
2010
2011
2012
2013
2014
2015
−12−10
−8−6−4−202468
1012
Private final consumption expenditure
Final consumption expenditure of general government
Gross fixed capital formation
Periods
2009
2010
2011
2012
2013
2014
2015
2016
−3,5−3−2,5−2−1,5−1−0,500,511,5
eu28 European Union (25 countries)
eurozone Euro−zone (EUR−11 up to 31.12.2000 / EUR−12 from 1.1.2001)
be Belgium
Periods
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g Real GDP
GDP(1)
Belgium GDPinchained2013euros
vs the previous quarter
vsthecorrespondingquarterofthe previousyear
International comparison vs the previous quarter Euro area(2)
EU-28
vsthecorrespondingquarterofthe previousyear
Euro area(2)
EU-28
MAIN COMPONENTS OF EXPENDITURE(1)
Final private consumption Final public consumption Grossfixedcapitalformation business housing public Exportsofgoodsandservices Importsofgoodsandservices GDP
MAIN COMPONENTS OF VALUE ADDED(1)
Industry Construction Services GDP
Sources: Belgium (NAI); Euro area, EU-28 (Eurostat).(1) Adjustedforseasonalandcalendareffects.(2) Euro area = EA19.(3) Percentage changes versus previous quarter.(4) Flash estimate.______________________________________________________________________________________________________________________
BELGIUM(3) INTERNATIONALCOMPARISONOFGDP(3)
Final private consumption
Final public consumption
Grossfixedcapitalformation EU-28
Belgium
Euro area(2)
(millions of euro)
(percentage changes)
(percentage changes)
(percentage changes compared to the corresponding quarter of the previous year)
NBB.Stat
4www.nbb.be
2013 2014 2015III IV I II III IV I II III IV
4532.1 4535.8 4537.6 4545.1 4552.5 4561.9 4569.5 4583.9 4601.9 4607.5
62.1 61.4 61.8 62.0 61.8 62.0 62.2 61.5 62.0 61.767.7 66.7 67.1 67.4 67.2 67.4 67.5 66.8 67.4 67.0
63.5 63.5 63.7 63.8 64.0 64.1 64.3 64.4 64.7 64.867.7 67.8 68.0 68.1 68.3 68.4 68.7 68.8 69.1 69.3
64.1 64.2 64.5 64.7 65.0 65.1 65.3 65.5 65.8 66.068.4 68.6 68.9 69.1 69.4 69.5 69.7 69.9 70.2 70.4
2015 2016M A M J J A S O N D J F M
587 568 551 554 596 602 588 572 562 566 571 564 554104 97 91 92 114 120 122 112 107 105 105 103 98483 471 461 462 482 483 466 460 455 461 466 461 457
8.7 8.7 8.7 8.5 8.2 8.1 8.1 8.5 8.7 8.8 8.7 8.6 8.5
11.2 11.1 11.0 11.0 10.8 10.7 10.6 10.6 10.5 10.4 10.4 10.4 10.2
9.7 9.6 9.6 9.5 9.4 9.3 9.2 9.1 9.0 9.0 8.9 8.9 8.8
2015 2016M A M J J A S O N D J F M
0.0 0.0 -0.1 -1.2 -1.6 0.6 0.2 0.5 1.4 1.7 2.9 3.7 n.
-5.0 -5.4 -5.7 -2.3 -0.5 4.3 -2.2 -1.8 0.7 3.0 -2.9 -3.5 n.
-1.0 -0.7 -1.3 1.9 4.5 9.9 3.8 4.2 8.0 14.4 9.0 6.7 2.3
2013 2014 2015I II III IV I II III IV I II
-3.2 -0.1 -0.5 0.7 2.5 1.2 4.2 2.8 0.0 3.8
-8.7 -7.3 2.9 5.0 -1.0 3.6 -5.2 -5.6 -10.1 6.6
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g Activity and labour market indicators Activity
Labour market
EMPLOYMENT
Belgium Domesticemployment(2)
Employmentrate(3) 15-64years 20-64years
Internationalcomparisonoftheemploymentrate(3)
Euro area(4) 15-64years 20-64years
EU-28 15-64years 20-64years
UNEMPLOYMENT
Belgium Unemployment(5)
<25yearsold ≥25yearsold
Harmonisedunemploymentrate(6)
Internationalcomparisonofharmonisedunemploymentrate(6)
Euro area(4)
EU-28
_________________________________________________________________________________________________________________________________________
Sources:NBB;FPSEconomy,SMEs,Self-employedandEnergy;NEO;FEBIAC;Eurostat;NAI.(1) BasedonVAT-declaration.(2) Quarterlyaverageofthenumberofemployeesandself-employedpersons,seasonallyadjusted.(3) Harmoniseddatafromthequarterlylabourforcesurvey(LFS).(4) Euro area = EA19.(5) Fullyunemployedpersonsreceivingbenefits,compulsorilyandvoluntarilyregisteredjob-seekers;grossdata.(6) ThisseriescorrespondswiththeresultsoftheLabourForceSurvey(LFS,populationolderthan15years),monthlyadjustedbyusing theadministrativenationalunemploymentfigures,inaccordancewiththeEurostat’smethodology.Seasonallyadjusteddata.______________________________________________________________________________________________________________________
(percentages of the population of working age)
(in thousands)
(percentages of the labour force)
(in thousands, end of period)
Industrialproduction,excludingbuilding
New car registrations Newcarregistrationsincludingmixedcars
(percentage changes in the average for the last 3 months compared to the corresponding period of the previous year)
Total turnover(1)
Investments(1)
(percentage changes compared to the corresponding period of the previous year
NBB.Stat
NBB.Stat
NBB.Stat
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2010 2011 2012 2013 2014 2015 2016−40
−30
−20
−10
0
10
68707274767880828486
liss
brute des
Degr d’utilisation de la capacit de production instal
2010 2011 2012 2013 2014 2015 2016−40
−30
−20
−10
0
10
cs_Serie lis
cs_Serie brute des
2010 2011 2012 2013 2014 2015 2016−30−25−20−15−10−505
1015
−50
−40
−30
−20
−10
0
10
20
30
com_ liss_gauche com_brute gauche
ser_lis droite ser_brute droite
2010 2011 2012 2013 2014 2015 2016−30
−25
−20
−15
−10
−5
0
5
10
liss
brute des
2009
2010
2011
2012
2013
2014
2015
2016
−40
−30
−20
−10
0
10
20
Situation économique globale au cours des douze prochains m
2009
2010
2011
2012
2013
2014
2015
2016
−30
−25
−20
−15
−10
−5
0
5
Indicateur de confiance des consommateurs nouveau
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g Business survey
g Consumer survey
Source: NBB.(1) Weightedaverageofthesyntheticcurveofmanufacturingindustry,buildingindustry,tradeandbusiness-relatedservices.(2) Percentageofproductioncapacityutilisation,seasonallyadjusted.(3) Includesexpectationsonthegeneraleconomicsituation,unemployment,financialsituationandsavingcapacity.(4) Overthenext12months.______________________________________________________________________________________________________________________
OVERALL SyNTHETIC CURVE(1) MANUFACTURINGINDUSTRY
TRADE & BUSINESS-RELATED SERVICESBUILDING INDUSTRy
Seasonallyadjustedandsmoothedseries
Seasonallyadjustedseries
services(right-handscale)
trade
EXPECTATIONS(4)ONTHEGENERALECONOMICSITUATIONCONSUMERCONFIDENCEINDEX(3)
useofproduction capacity(2)
(right-handscale)
NBB.Stat
NBB.Stat
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2010 2011 2012 2013 2014 2015
2.3 3.4 2.6 1.2 0.5 0.610.0 17.0 6.0 -4.6 -6.0 -8.0
3.5 0.2 3.4 4.4 -1.3 2.11.0 3.1 3.1 3.2 2.1 1.61.1 1.5 1.9 1.5 1.5 1.60.8 1.0 0.9 1.0 0.3 0.51.4 1.9 2.5 1.9 2.3 2.4
2.2 3.5 2.8 1.1 0.3 0.61.7 3.1 2.7 1.2 0.4 1.1
1.6 2.7 2.5 1.4 0.4 0.07.4 11.9 7.6 0.6 -1.9 -6.81.3 1.8 3.0 3.5 -0.8 1.60.9 3.3 3.1 2.2 1.2 0.61.0 1.4 1.5 1.1 0.8 0.80.4 0.8 1.2 0.6 0.1 0.31.4 1.9 1.8 1.4 1.2 1.2
2010 2011 2012 2013 2014 2015 20160
1
2
3
4
eurozone
be
2010 2011 2012 2013 2014 2015 2016−2
−1
0
1
2
3
4
5
6
eurozone
be
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Economic indicators for B
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g Harmonised index of consumer pricesAnnualdata
BELGIUM
Total HICP Energy Unprocessedfood(1)
Processedfood Underlyingtrendininflation(2)
Non-energyindustrialgoods Services
p.m.Nationalindexofconsumerprices Generalindex Healthindex(3)
EURO AREA(4)
Total HICP Energy Unprocessedfood(1)
Processedfood Underlyingtrendininflation(2)
Non-energyindustrialgoods Services
Sources:Eurostat;FPSEconomy,SMEs,Self-employedandEnergy.(1) Fruit,vegetables,meatandfish.(2) HICPexcludingfoodandenergy.(3) Generalindexexcludingproductswhichareharmfultothehealth(tobacco,alcohol,petrolanddiesel).(4) Euro area = EA11-2000, EA12-2006, EA13-2007, EA15-2008, EA16-2010, EA17-2013, EA18-2014, EA19.______________________________________________________________________________________________________________________
(percentage changes compared to the previous year)
HICP TOTAL UNDERLyING TREND IN INFLATION
Euro area
Belgium
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2015 2016A M J J A S O N D J F M A
0.4 0.8 0.9 0.9 0.8 0.9 1.2 1.4 1.5 1.8 1.1 1.6 n.-8.0 -5.2 -5.6 -6.5 -6.8 -5.6 -6.2 -4.8 -4.0 -2.2 -6.8 -5.9 n.1.1 3.0 2.9 1.5 2.9 4.4 5.6 4.0 3.1 2.5 2.0 5.1 n.1.2 1.1 1.3 1.4 1.5 1.3 1.9 2.7 2.9 3.9 3.8 3.7 n.1.5 1.5 1.5 1.9 1.5 1.4 1.7 1.8 1.9 2.0 1.6 2.0 n.0.3 0.2 0.3 1.1 0.2 0.3 0.4 0.7 0.8 1.4 0.8 1.0 n.2.3 2.4 2.4 2.3 2.4 2.2 2.5 2.6 2.6 2.3 2.1 2.7 n.
0.3 0.6 0.6 0.5 0.9 1.1 1.3 1.5 1.5 1.7 1.4 2.2 2.00.7 0.9 1.0 0.9 1.5 1.8 2.0 2.0 1.8 1.8 1.6 2.7 2.4
0.0 0.3 0.2 0.2 0.1 -0.1 0.1 0.1 0.2 0.3 -0.2 0.0 -0.2(5)
-5.8 -4.8 -5.1 -5,6 -7.2 -8.9 -8.5 -7.3 -5.8 -5.4 -8.1 -8.7 -8.6(5)
1.3 2.1 1.9 1.4 2.4 2.7 3.2 2.7 2.0 1.4 0.6 1.3 1.2(5)
0.7 0.6 0.7 0.6 0.6 0.6 0.6 0.7 0.7 0.8 0.6 0.4 0.5(5)
0.6 0.9 0.8 1.0 0.9 0.9 1.1 0.9 0.9 1.0 0.8 1.0 0.8(5)
0.1 0.2 0.3 0.4 0.4 0.3 0.6 0.6 0.5 0.7 0.7 0.5 0.5(5)
1.0 1.3 1.1 1.2 1.2 1.2 1.3 1.2 1.1 1.2 0.9 1.4 1.0(5)
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g Harmonised index of consumer prices (continued)Monthlydata
BELGIUM
Total HICP Energy Unprocessedfood(1)
Processedfood Underlyingtrendininflation(2)
Non-energyindustrialgoods Services
p.m.Nationalindexofconsumerprices Generalindex Healthindex(3)
EURO AREA(4)
Total HICP Energy Unprocessedfood(1)
Processedfood Underlyingtrendininflation(2)
Non-energyindustrialgoods Services
_____________________________________________________________________________________________________________________
Sources:Eurostat;FPSEconomy,SMEs,Self-employedandEnergy.(1) Fruit,vegetables,meatandfish.(2) HICPexcludingfoodandenergy.(3) Generalindexexcludingproductswhichareharmfultothehealth(tobacco,alcohol,petrolanddiesel).(4) Euro area = EA11-2000, EA12-2006, EA13-2007, EA15-2008, EA16-2010, EA17-2013, EA18-2014, EA19.(5) Flash estimate._____________________________________________________________________________________________________________________
(percentage changes compared to the corresponding month of the previous year)
NBB.Stat
8www.nbb.be
2011 2012 2013 2014 2015
43.2 44.3 45.1 44.9 44.615.8 16.1 16.7 16.7 16.612.7 13.1 13.0 13.0 12.914.0 14.2 14.4 14.3 14.30.7 0.9 1.0 1.0 0.9
7.1 7.3 7.4 7.1 6.750.3 51.6 52.6 52.0 51.3
24.2 24.8 25.3 25.3 25.426.7 27.4 26.9 26.6 25.750.8 52.2 52.2 51.9 51.0
-0.5 -0.6 0.3 0.1 0.3
3.6 3.6 3.4 3.2 2.9
-4.1 -4.2 -3.0 -3.1 -2.6
-3.7 -3.5 -2.5 -2.5 -1.20.1 -0.1 -0.1 0.0 0.1-0.3 -0.1 -0.2 -0.3 -1.4-0.2 -0.5 -0.2 -0.2 0.0
-0.5 -0.6 0.3 0.1 0.3-1.2 -0.6 -0.2 0.1 0.3-1.6 -1.4 -0.6 -0.4 -0.1
-4.1 -4.2 -3.0 -3.1 -2.6-4.2 -3.7 -3.0 -2.6 -2.1-4.5 -4.3 -3.3 -3.0 -2.4
102.3 104.1 105.2 106.5 106.086.0 89.3 91.1 92.0 90.781.0 83.8 85.5 86.8 85.2
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Economic indicators for B
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g Public financesGeneralgovernment-EDPdefinition(1)
REVENUE Fiscalandparafiscalrevenue Directtaxes Indirecttaxes Actual social contributions Capitaltaxes
Non-fiscalandnon-parafiscalrevenue(2)
Total
PRIMARY EXPENDITURE Socialbenefits(3)
Otherexpenditures Total
PRIMARY BALANCE
INTEREST CHARGES
OVERALL BALANCE
p.m. FOR THE SUBSECTORS Federalgovernment Socialsecurity Communitiesandregions Local authorities
INTERNATIONAL COMPARISON Primarybalance Belgium Euro area(4)
EU-28 Overall balance Belgium Euro area(4)
EU-28 Consolidatedgrossdebt Belgium Euro area(4)
EU-28
_________________________________________________________________________________________________________________________________________
Sources: NAI, NBB, Eurostat.(1) ExcessiveDeficitProcedure(EDP),definitionoftheTreatyontheFunctioningoftheEuropeanUnion.(2) Propertyincome,imputedsocialsecuritycontributions,transfersfromothersectorsandsalesofgoodsandservices.(3) Fromsocialsecurityandallothersubsectorsofgeneralgovernment.(4) Euro area = EA19.______________________________________________________________________________________________________________________
(percentages of GDP)
NBB.Stat
9www.nbb.be
2015 2016F M A M J J A S O N D J F
19.5 21.2 20.5 19.3 21.9 20.1 16.6 20.1 21.1 19.5 19.1 18.2 20.019.2 22.5 20.7 19.7 21.9 20.0 18.0 20.3 20.7 19.5 19.4 17.9 20.00.3 -1.3 -0.1 -0.3 0.0 0.1 -1.4 -0.2 0.4 0.0 -0.3 0.3 0.0
239.0 239.1 238.6 237.8 238.9 238.2 237.8 236.0 235.3 235.5 236.7 237.0 237.5245.1 245.8 245.4 244.9 246.0 245.6 244.4 242.6 241.4 241.2 240.7 239.5 240.3
-6.2 -6.7 -6.8 -7.2 -7.1 -7.4 -6.6 -6.5 -6.1 -5.6 -4.0 -2.5 -2.7
-0.4 -0.3 0.0 0.2 0.4 0.5 0.4 0.2 -0.4 -0.8 -0.6 -0.6 n.-1.9 -1.6 -1.0 -0.6 -0.3 -0.2 -0.4 -0.5 -0.8 -0.9 -0.4 -0.3 n.1.5 1.3 1.0 0.8 0.7 0.7 0.8 0.6 0.4 0.1 -0.2 -0.3 n.
-0.3 -0.2 -1.0 -1.4 -1.5 -1.9 -1.9 -2.9 -2.7 -1.9 -1.3 -0.4 n.0.8 1.1 0.3 0.0 -0.1 -0.4 -1.1 -2.2 -2.5 -2.1 -2.7 -2.5 n.
-1.1 -1.3 -1.3 -1.4 -1.4 -1.5 -0.8 -0.7 -0.2 0.2 1.4 2.2 n.
2011 2012 2013 2014 2015 2016−3
−2
−1
0
1
2
3
Grafique Balance sheet 7
2011 2012 2013 2014 2015 2016100105110115120125130135140145150155
Uitvoer
Invoer
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g Foreign trade(1)
VALUE
Monthlydata Export Import Balance
Cumulativedataoverthe last 12 months
Export Import Balance
PRICE Export Import TermsoftradeVOLUME Export Import Coverage ratio
(billions of euro)
(percentage changes in the last 12 months compared to the preceding 12 months)
PRICE INDEX(2000 = 100)
Export
Import
BALANCE(inbillionsofeuro)
Sources: NAI.(1) National concept.______________________________________________________________________________________________________________________
NBB.Stat
10www.nbb.be
2014 2015D J F M A M J J A S O N D
-0.9 -0.7 0.0 -3.6 -3.3 -4.1 -4.1 -2.0 -1.0 -1.1 -0.8 -1.4 -0.1-3.9 -3.6 -3.0 -3.4 -3.4 -3.8 -3.7 -3.9 -2.7 -2.3 -1.6 -1.2 0.45.2 5.1 5.2 2.4 2.3 2.4 2.5 4.7 4.8 4.3 4.1 3.7 5.04.2 4.1 4.2 3.9 4.2 3.8 3.5 3.5 3.3 3.2 3.2 2.6 1.0-6.4 -6.4 -6.5 -6.5 -6.5 -6.5 -6.4 -6.4 -6.5 -6.4 -6.5 -6.5 -6.5
-1 -0.8 -0.8 -0.8 -0.8 -0.8 -0.8 -0.7 -0.7 -0.7 -0.7 -0.7 -0.3
-2.3 -2.5 0.1 -3.7 -1.1 -1.9 -3.9 -0.5 -0.4 -0.5 0.5 -0.1 0.810.3 2.3 8.2 4.0 4.9 -1.0 -6.5 -5.2 -0.9 1.6 5.4 5.6 6.820.8 16.8 21.6 23.5 22.8 23.3 19.3 18.8 24.5 56.9 54.2 64.8 64.4-10.5 -14.4 -13.4 -19.5 -17.9 -24.3 -25.8 -24.1 -25.3 -55.2 -48.8 -59.2 -57.6-9.4 -14.6 -19.0 -20.3 -20.3 -19.0 -17.0 -24.0 -26.9 -25.9 -21.7 -26.7 -17.1-2.5 -0.9 0.2 0.5 1.4 1.8 2.2 1.8 1.5 0.3 0.3 -2.2 -4.90.3 11.8 12.2 13.9 14.6 18.0 19.0 28.5 27.3 24.8 18.0 24.4 16.9-1 -1.2 -1.5 -1.8 -1.8 -1.7 -1.5 -1.6 -1.5 -1.3 -1.5 -1.2 -1.0
-0.4 -1.0 0.9 0.7 3.0 2.9 1.1 2.3 1.3 1.3 2.0 2.0 1.2
2010 2011 2012 2013 2014 2015−2500−2000−1500−1000−500
0500
1000150020002500
150160170180190200210220230240250260
2009 2010 2011 2012 2013 2014 2015−9
−6
−3
0
3
6
9
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g Balance of payments
CURRENT ACCOUNT Goods Services Primaryincomes Secondaryincomes
CAPITAL ACCOUNT
FINANCIAL ACCOUNT Direct investment Equitycapital Other capital Portfolioinvestment Financialderivatives Other transactions NBB’sreserves
ERRORS AND OMISSIONS
Sources: NBB, NAI._____________________________________________________________________________________________________________________
(cumulative data over the last 12 months, in billions of euro)
BALANCE OF CURRENT ACCOUNT (quarterlydatainpercentageofGDP)
INTERNATIONALINVESTMENTPOSITION (quarterlydatainbillionsofeuro)
Netexternalassetposition(right-handscale)
Assets
Liabilities(left-handscale)
BELGOSTAT
NBB.Stat
NBB.Stat
11www.nbb.be
−1
0
1
2
3
4
2014 2015
−1
0
1
2
3
4
2014 20150
1
2
3
4
20142013 2015
−1
0
1
2
3
4
2014 2015
−1
0
1
2
3
4
28/4/2015
28/3/2016
28/4/2016
hulplijn
11www.nbb.be
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g Financial markets
Interest rates
Sources: ECB, NBB.(1) Minimumbidrate.(2) Weightedaveragerate.(3) Floatingrateandupto1yearinitialratefixation.(4) Ten-yeargovernmentbond.______________________________________________________________________________________________________________________
EUROSYSTEM
EURO
EURO yIELD CURVE
Mainrefinancingoperations(¹)
Marginallendingfacility
Depositfacility
PUBLIC DEBTLENDING RATES By CREDIT INSTITUTIONS
BELGIUM
INTERNATIONAL COMPARISON
Treasurycertificates
Referenceloan:OLO10years
Tohouseholdsforhousepurchases:floatingrateandupto1yearinitialratefixation
over10yearsinitialratefixation
Tonon-financialcorporations:
uptoanamountofEUR1million(3)
overanamountofEUR1million(3)
LONGTERM(4)
UnitedStates
Germany
Japan
logarithmic scale
1w. 1m. 3m. 6m. 1y. 3y. 5y. 10y.
NBB.Stat
12www.nbb.be
2015 2016M A M J J A S O N D J F M
9474 9566 9593 9583 9650 9643 9633 9748 9807 9786 9864 9902 9924
10465 10566 10600 10600 10681 10672 10660 10776 10841 10835 10901 10941 10966
159.4 160.1 163.8 168.0 165.5 164.3 167.3 168.5 172.6 166.7 168.1 169.2 174.2
27.1 25.3 23.2 20.5 22.5 22.6 23.5 23.0 22.7 22.3 22.3 19.8 20.0
286.4 288.3 289.9 290.8 292.0 292.7 292.0 293.5 293.8 293.0 296.3 297.7 296.8
27.4 27.4 27.2 26.2 35.9 38.9 32.4 32.6 34.1 31.4 36.0 33.2 31.7
500.2 501.1 504.1 505.6 516.0 518.6 515.1 517.6 523.2 513.4 522.7 520.0 522.6
0,60,70,80,9
11,11,21,31,41,51,61,7
2014 2015
100015002000250030003500400045005000
105001200013500150001650018000195002100022500
2014 201520000
24000
28000
32000
36000
40000
44000
2030405060708090100110120
2014 2015
60708090
100110120130140
2014 2015
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g Financial markets (continued)
Exchangerates
Stockandcommoditiesmarket
Sources:ECB,BIS,Euronext.______________________________________________________________________________________________________________________
Monetaryaggregates(1)
EURO AREAM3excludingcurrencyincirculationM3
ofwhich:by MFI(2) in BELGIUMDeposits
overnightwithagreedmaturityupto2yearsredeemableatnoticeupto3monthsOthersM3(3) componentsM3(3)
______________________________________________________________________________________________________________________
Sources: NBB, ECB.(1) M3comprisescurrencyincirculation,depositswithagreedmaturityupto2years,repurchaseagreements(excludetheRepurchase agreements with Central counterparties - CCPs),moneymarketfundshares/units,moneymarketpaperanddebtsecuritiesupto2years.(2) MonetaryFinancialInstitutions.(3) Excludingcurrencyincirculation.______________________________________________________________________________________________________________________
(end of period, in billions of euro)
REFERENCE EXCHANGE RATE NOMINALEFFECTIVEEXCHANGERATE(2010=100)
USdollar/euro
Poundsterling/euro
Japaneseyen(100)/euro
USdollar
Euro
Japaneseyen
STOCKMARKET COMMODITIESMARKET
Left-handscale:
Right-handscale:
DowJonesIndustrial
BEL 20
DJEuropeStoxx50PIDX
Nikkei
GoldinBrussels(EUR/kg)(left-handscale)
Brent(USD/barrel)(right-handscale)
NBB.Stat
NBB.Stat
NBB.Stat
13www.nbb.be
2013 2014 2015III IV I II III IV I II III IV
1114.4 1124.4 1141.4 1149.7 1158.2 1172.9 1207.0 1205.7 1192.8 1219.0157.4 163.2 161.9 170.3 164.1 174.6 179.9 182.6 177.9 181.41324.6 1341.2 1363.5 1373.6 1384.8 1427.2 1457.6 1470.1 1457.9 1482.8
234.4 235.4 237.5 242.7 246.2 248.6 252.6 254.5 255.7 258.2514.2 516.8 542.5 556.3 561.8 576.3 600.3 579.4 583.5 583.21662.1 1673.6 1692.0 1700.3 1711.4 1758.7 1816.8 1834.9 1807.0 1884.1
880.0 889.0 903.9 907.0 912.1 924.3 954.4 951.2 937.1 960.7-356.9 -353.6 -380.6 -385.9 -397.7 -401.7 -420.5 -396.8 -405.6 -401.7-337.5 -332.4 -328.5 -326.8 -326.6 -331.5 -359.2 -364.7 -349.2 -401.3
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g Conventional signs indicatesdatawhichhavebeenupdatedsincethepreviouspublication.0.0 nilorlessthanhalfthesmallestdigitconsidered.- datanon-existentormeaningless. n. not available. e estimate.
g InformationWesuggestpeoplewantingmoreinformationaboutthecontents,themethodology,themethodsofcalculationsandthesourcestogetintouchwiththeStatisticalinformationsystemsoftheNationalBankofBelgium.
AlexanderFoket tel.:+3222213045 fax:+3222213134NinoDiZinno tel.:+3222212136mail:[email protected]
EditorRudiAcx HeadoftheGeneralStatisticsDepartment
NationalBankofBelgiumboulevarddeBerlaimont14BE-1000Brussels
Closingdate:29/04/2016 Nextissue:13/05/2016
Allrightsreserved.Reproductionforeducationalandnon-commercialpurposesispermittedprovidedthatthesourceisacknowledged.
g Financial accounts
FINANCIAL ASSETS Individuals General government Non-financialcorporations
FINANCIAL LIABILITIES Individuals General government Non-financialcorporations
NET FINANCIAL WEALTH Individuals General government Non-financialcorporations
(end of period outstanding amounts in billions of euro)
______________________________________________________________________________________________________________________
Source: NBB.______________________________________________________________________________________________________________________
NBB.Stat
