Economic indicators for Belgium · - Economic indicators for Belgium N° 2016-01 08/01/2016...
13
1 www.nbb.be 2012 2013 2014 2015 2016 0.6 0.9 0.4 1.5 - 2.0 1.8 - 1.2 - 0.7 1.2 - 1.5 -0.1 0.6 0.6 - 0.3 0.1 - 0.4 - 0.4 -0.2 - 0.2 -1.7 7.0 1.8 - 2.1 2.5 - -0.4 - 0.5 0.3 - 1.8 1.6 5.4 3.4 - 3.6 4.2 - 4.5 - 4.5 4.8 - 1.4 0.8 5.9 4.0 - 4.1 5.0 - 3.9 - 3.8 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 1.5 1.5 1.6 1.5 1.5 1.9 1.7 1.8 1.8 1.6 -0.5 0.0 1.3 - - 1.9 n. - - - 2.0 n. - 2.6 1.2 0.5 0.6 - 0.6 0.6 0.6 1.9 - 1.7 1.3 1.8 2.8 1.1 0.3 n. - - n. - n. - - n. - 2.6 1.3 0.4 0.8 - - - - 1.2 - - - - 2.5 1.3 0.4 0.3 0.1 0.1 0.1 0.1 1.5 1.0 1.0 0.9 1.1 2.6 1.5 0.5 - - 0.0 n. - - - 1.1 n. - 3.2 2.4 0.8 0.3 - n. n. - 0.1 - n. n. - 4.0 2.2 -0.1 -0.2 - -0.2 -0.2 - -0.2 - -0.3 0.1 - 3.2 2.4 0.8 - - - - - - - - - - 3.1 2.3 2.1 - - - - - - - - - - 1.8 1.4 1.1 - - 0.7 0.9 - - - 0.7 0.8 - 2.0 1.4 1.2 - - 0.9 n. - - 0.9 n. - 1 www.nbb.be Economic indicators for Belgium N° 2016-01 08/01/2016 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 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 Users should be aware that estimates of this kind can sometimes be out of date owing to changes in the information available.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 December 2015 (next issue March 2016); OECD November 2015 (next release May 2016); EC European Economics Forecast Autumn 2015 (next release ‘Winter 2016’) and BPN January 2016 (next release March 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° 2016-01 08/01/2016
Transcript of Economic indicators for Belgium · - Economic indicators for Belgium N° 2016-01 08/01/2016...
1www.nbb.be
2012 2013 2014 2015 2016
0.6 0.9 0.4 1.5 - 2.0 1.8 - 1.2 - 0.7 1.2 -1.5 -0.1 0.6 0.6 - 0.3 0.1 - 0.4 - 0.4 -0.2 -0.2 -1.7 7.0 1.8 - 2.1 2.5 - -0.4 - 0.5 0.3 -1.8 1.6 5.4 3.4 - 3.6 4.2 - 4.5 - 4.5 4.8 -1.4 0.8 5.9 4.0 - 4.1 5.0 - 3.9 - 3.8 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 1.5 1.5 1.6 1.5 1.5 1.9 1.7 1.8 1.8 1.6-0.5 0.0 1.3 - - 1.9 n. - - - 2.0 n. -
2.6 1.2 0.5 0.6 - 0.6 0.6 0.6 1.9 - 1.7 1.3 1.82.8 1.1 0.3 n. - - n. - n. - - n. -2.6 1.3 0.4 0.8 - - - - 1.2 - - - -
2.5 1.3 0.4 0.3 0.1 0.1 0.1 0.1 1.5 1.0 1.0 0.9 1.12.6 1.5 0.5 - - 0.0 n. - - - 1.1 n. -
3.2 2.4 0.8 0.3 - n. n. - 0.1 - n. n. -4.0 2.2 -0.1 -0.2 - -0.2 -0.2 - -0.2 - -0.3 0.1 -
3.2 2.4 0.8 - - - - - - - - - -3.1 2.3 2.1 - - - - - - - - - -
1.8 1.4 1.1 - - 0.7 0.9 - - - 0.7 0.8 -2.0 1.4 1.2 - - 0.9 n. - - 0.9 n. -
1www.nbb.be
Econ
omic
indi
cato
rs fo
r Bel
gium
N°
2016
-01
08
/01/
2016
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).** TheforecastsfromtheNBBdatefromDecember2015(Economic Review) (nextupdateJune2016).Usersshouldbeawarethatestimatesofthiskindcansometimes beoutofdateowingtochangesintheinformationavailable.Theoldertheestimates,thegreaterthisriskbecomes.Publicationoftheestimatethereforesimplymeans thatitisthelatestestimatereleasedbytheNBB. ECBmonthlyBulletinDecember2015(nextissueMarch2016); OECDNovember2015(nextreleaseMay2016); ECEuropeanEconomicsForecastAutumn2015(nextrelease‘Winter2016’)andBPNJanuary2016(nextreleaseMarch2016).*** 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)
WEEkLyPUBLICATION N° 2016-01 08/01/2016
2www.nbb.be
2012 2013 2014 2015 2016
0.4 -0.4 0.3 0.7 - 0.6 0.7 0.6 0.9 - 0.7 0.8 0.72.5 4.3 2.3 -3.0 - 1.9 3.8 - -2.2 - -1.9 -1.1 -
16.6 -18.5 14.9 31.4 - 27.4 30.8 - 40.4 - 33.0 38.6 -13.9 23.9 13.5 -18.1 - 8.0 16.3 - -13.0 - -8.0 -4.8 -
7.6 8.4 8.5 8.5 - 8.6 8.7 8.6 8.3 - 8.4 8.6 8.4
11.3 12.0 11.6 11.1 - 11.0 10.9 10.9 10.6 - 10.6 10.4 10.510.5 10.9 10.2 - - 9.5 n. - - - 9.2 n. -
-0.6 0.4 0.0 -0.1 - 0.2 n. - -0.2 - 0.2 n. --4.1 -2.9 -3.1 -2.9 - -2.7 -2.6 -2.7 -2.9 - -2.6 -2.0 -2.1
104.1 105.1 106.7 106.9 - 106.7 107.6 106.8 107.3 - 107.1 106.9 106.4
-3.7 -3.0 -2.6 -2.1 - -2.0 -1.9 -2.1 -1.8 - -1.8 -1.7 -1.9-4.3 -3.3 -3.0 - - -2.5 n. - - - -2.0 n. -
-0.1 -0.2 -0.2 0.8 - 1.8 0.1 0.1 1.4 - 2.0 1.0 0.3
1.5 2.1 2.5 - - 3.7 3.8 3.0 - - 3.6 3.7 2.80.7 1.2 0.9 - - 2.2 n. - - - 2.2 n. -
2www.nbb.be
Economic indicators for B
elgium
N
° 2016-01
08/01/2016
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).** TheforecastsfromtheNBBdatefromJune2015(Economic Review) (nextupdateDecember2015).Usersshouldbeawarethatestimatesofthiskindcansometimes beoutofdateowingtochangesintheinformationavailable.Theoldertheestimates,thegreaterthisriskbecomes.Publicationoftheestimatethereforesimplymeans thatitisthelatestestimatereleasedbytheNBB. ECBmonthlyBulletinDecember2015(nextissueMarch2016); OECDNovember2015(nextreleaseMay2016); ECEuropeanEconomicsForecastAutumn2015(nextrelease‘Winter2016’)andBPNJanuary2016(nextreleaseMarch2016).*** 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***
3www.nbb.be
2013 2014 2015III IV I II III IV I II III
98262 98629 99043 99289 99682 99979 100294 100791 101010
0.3 0.4 0.4 0.2 0.4 0.3 0.3 0.5 0.20.3 0.6 1.3 1.3 1.4 1.4 1.3 1.5 1.3
0.2 0.2 0.2 0.1 0.3 0.4 0.5 0.4 0.30.4 0.3 0.3 0.2 0.4 0.5 0.6 0.5 0.4
0.0 0.6 1.1 0.7 0.8 0.9 1.3 1.6 1.60.4 1.1 1.5 1.3 1.3 1.4 1.7 1.9 1.9
1.0 0.6 0.3 0.6 0.2 0.4 1.1 1.3 1.6-0.2 -0.6 -0.2 0.6 0.7 1.2 0.8 0.1 -0.2-1.4 0.5 4.0 5.8 11.8 6.4 13.6 0.5 -5.9-0.2 2.2 4.4 5.7 15.1 6.5 18.5 0.3 -8.7-4.5 -2.5 3.6 6.2 6.0 6.8 2.6 -0.4 -0.8-2.0 -3.4 2.9 5.3 3.3 4.6 6.2 3.2 2.52.3 4.0 5.3 6.0 5.7 4.5 4.1 3.0 2.21.1 3.1 4.4 6.1 8.2 4.9 7.6 3.2 0.40.3 0.6 1.3 1.3 1.4 1.4 1.3 1.5 1.3
1.6 2.8 2.8 1.3 2.3 0.5 1.0 1.6 0.5-1.6 0.6 4.5 3.3 2.5 2.7 -0.7 2.0 3.00.1 0.2 0.7 1.1 1.2 1.5 1.5 1.6 1.50.3 0.6 1.3 1.3 1.4 1.4 1.3 1.5 1.3
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
2008
2009
2010
2011
2012
2013
2014
2015
−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
3www.nbb.be
Econ
omic
indi
cato
rs fo
r Bel
gium
N°
2016
-01
08
/01/
2016
g Real GDP
GDP(1)
Belgium GDPinchained2012euros
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.______________________________________________________________________________________________________________________
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 2015II III IV I II III IV I II III
4527.5 4532.1 4535.8 4537.6 4545.1 4552.5 4561.9 4567.1 4576.7 4583.3
62.0 62.3 61.6 61.5 61.9 62.0 62.2 61.9 61.4 62.167.5 67.6 66.9 67.0 67.4 67.1 67.6 67.4 66.7 67.4
63.5 63.8 63.6 63.1 63.8 64.2 64.1 63.7 64.4 64.967.8 68.0 67.8 67.4 68.2 68.5 68.4 68.1 68.9 69.3
64.1 64.5 64.3 63.9 64.7 65.3 65.2 64.7 65.5 n.68.4 68.8 68.7 68.3 69.2 69.7 69.5 69.1 69.9 n.
2014 2015D J F M A M J J A S O N D
590 601 596 587 568 551 554 596 602 588 572 562 566111 111 108 104 97 91 92 114 120 122 112 107 105479 490 487 483 471 461 462 482 483 466 460 455 461
8.6 8.5 8.6 8.7 8.8 8.8 8.7 8.3 8.1 7.9 7.8 7.8 n.
11.4 11.2 11.2 11.1 11.1 11.0 11.0 10.8 10.8 10.7 10.6 10.5 n.
9.9 9.8 9.7 9.7 9.6 9.6 9.5 9.4 9.3 9.2 9.2 9.1 n.
2014 2015D J F M A M J J A S O N D
-1.6 -1.4 -1.7 0.0 0.0 -0.1 -1.2 -1.6 0.6 -0.2 -0,1 n. n.
-3.9 -4.2 -4.3 -5.0 -5.4 -5.7 -2.3 -0.5 4.3 -2.2 -1.8 0.7 3.0
2012 2013 2014I II III IV I II III IV I II
4.1 0.3 -0.1 -0.6 -3.2 -0.1 -0.5 0.7 2.5 1.5
3.9 -0.1 0.7 -10.0 -8.7 -7.3 2.9 5.0 2.5 5.0
4www.nbb.be
Economic indicators for B
elgium
N
° 2016-01
08/01/2016
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
(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
5www.nbb.be
2009 2010 2011 2012 2013 2014 2015−40
−30
−20
−10
0
10
68707274767880828486
liss
brute des
Degr d’utilisation de la capacit de production instal
2009 2010 2011 2012 2013 2014 2015−40
−30
−20
−10
0
10
cs_Serie lis
cs_Serie brute des
2009 2010 2011 2012 2013 2014 2015−30−25−20−15−10−505
1015
−50
−40
−30
−20
−10
0
10
20
30
com_ liss_gauche com_brute gauche
ser_lis droite ser_brute droite
2009 2010 2011 2012 2013 2014 2015−30
−25
−20
−15
−10
−5
0
5
10
liss
brute des
2008
2009
2010
2011
2012
2013
2014
2015
−40
−30
−20
−10
0
10
20
Situation économique globale au cours des douze prochains m
2008
2009
2010
2011
2012
2013
2014
2015
−30
−25
−20
−15
−10
−5
0
5
Indicateur de confiance des consommateurs nouveau
5www.nbb.be
Econ
omic
indi
cato
rs fo
r Bel
gium
N°
2016
-01
08
/01/
2016
g Business survey
g Consumer survey
Source: NBB.(1) Weightedaverageofthesyntheticcurveofmanufacturingindustry,buildingindustry,tradeandbusiness-relatedservices.(2) Percentageofproductioncapacityutilisation,seasonallyadjusted.(3) Includesexpectationsonthegeneraleconomicsituation,unemployment,financialsituationandsavingcapacity.(4) Overthenext12months.______________________________________________________________________________________________________________________
OVERALLSyNTHETICCURVE(1) MANUFACTURINGINDUSTRy
TRADE & BUSINESS-RELATED SERVICESBUILDINGINDUSTRy
Seasonallyadjustedandsmoothedseries
Seasonallyadjustedseries
services(right-handscale)
trade
EXPECTATIONS(4)ONTHEGENERALECONOMICSITUATIONCONSUMERCONFIDENCEINDEX(3)
useofproduction capacity(2)
(right-handscale)
NBB.Stat
NBB.Stat
6www.nbb.be
2010 2011 2012 2013 2014 2015
2.3 3.4 2.6 1.2 0.5 n.10.0 17.0 6.0 -4.6 -6.0 n.
3.5 0.2 3.4 4.4 -1.3 n.1.0 3.1 3.1 3.2 2.2 n.1.1 1.5 1.9 1.4 1.5 n.0.8 1.0 0.9 0.8 0.5 n.1.4 1.9 2.5 1.9 2.2 n.
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 1.3 0.4 n.7.4 11.9 7.6 0.6 -1.9 n.1.3 1.8 3.0 3.5 -0.8 n.0.9 3.3 3.1 2.2 1.2 n.1.0 1.4 1.5 1.1 0.8 n.0.5 0.8 1.2 0.6 0.1 n.1.4 1.9 1.8 1.4 1.2 n.
2009 2010 2011 2012 2013 2014 20150
1
2
3
4
eurozone
be
2009 2010 2011 2012 2013 2014 2015−2
−1
0
1
2
3
4
5
6
eurozone
be
6www.nbb.be
Economic indicators for B
elgium
N
° 2016-01
08/01/2016
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 UNDERLyINGTRENDININFLATION
Euro area
Belgium
7www.nbb.be
2014 2015D J F M A M J J A S O N D
-0.4 -0.6 -0.4 -0.1 0.4 0.8 0.9 0.9 0.8 0.9 1.2 1.4 n.-11.3 -16.4 -14.5 -11.0 -8.0 -5.2 -5.6 -6.5 -6.8 -5.6 -6.2 -4.8 n.-2.1 -2.0 -0.3 -0.4 1.1 3.0 3.0 1.5 2.9 4.4 5.6 4.0 n.1.1 1.2 1.2 1.4 1.2 1.1 1.3 1.4 1.5 1.3 1.9 2.7 n.1.3 1.9 1.6 1.4 1.4 1.5 1.5 1.9 1.6 1.4 1.7 1.8 n.0.2 1.2 0.2 0.2 0.3 0.2 0.3 1.1 0.2 0.3 0.4 0.7 n.2.0 2.3 2.6 2.2 2.3 2.4 2.4 2.3 2.4 2.2 2.5 2.6 n.
-0.4 -0.7 -0.4 -0.4 0.3 0.6 0.6 0.5 0.9 1.1 1.3 1.5 1.5-0.0 0.0 0.1 -0.1 0.7 0.9 1.0 0.9 1.5 1.8 2.0 2.0 1.8
-0.2 -0.6 -0.3 -0.1 0.0 0.3 0.2 0.2 0.1 -0.1 0.1 0.2 0.2(5)
-6.3 -9.3 -7.9 -6.0 -5.8 -4.8 -5.1 -5,6 -7.2 -8.9 -8.5 -7.3 -5.9(5)
-1.0 -0.8 0.4 0.7 1.3 2.1 1.9 1.4 2.4 2.7 3.2 2.7 2.0(5)
0.5 0.4 0.5 0.6 0.7 0.6 0.7 0.6 0.6 0.6 0.6 0.7 0.8(5)
0.7 0.6 0.7 0.6 0.6 0.9 0.8 1.0 0.9 0.9 1.1 0.9 0.9(5)
0.0 -0.1 -0.1 0.0 0.1 0.2 0.3 0.4 0.4 0.3 0.6 0.5 0.5(5)
1.2 1.0 1.2 1.0 1.0 1.3 1.1 1.2 1.2 1.2 1.3 1.2 1.1(5)
7www.nbb.be
Econ
omic
indi
cato
rs fo
r Bel
gium
N°
2016
-01
08
/01/
2016
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
2010 2011 2012 2013 2014
42.6 43.2 44.3 45.2 44.815.3 15.8 16.1 16.7 16.712.8 12.7 13.1 13.0 12.913.8 14.0 14.2 14.4 14.30.7 0.7 0.9 1.0 1.0
6.7 7.1 7.3 7.5 7.249.3 50.3 51.6 52.7 52.0
24.0 24.2 24.8 25.3 25.325.7 26.7 27.4 26.9 26.749.7 50.8 52.2 52.3 52.0
-0.4 -0.5 -0.6 0.4 0.0
3.6 3.6 3.6 3.3 3.1
-4.0 -4.1 -4.1 -2.9 -3.1
-3.0 -3.7 -3.5 -2.4 -2.5-0.2 0.1 -0.1 0.0 0.0-0.7 -0.3 -0.1 -0.2 -0.4-0.1 -0.2 -0.5 -0.2 -0.2
-0.4 -0.5 -0.6 0.4 0.0-3.4 -1.2 -0.6 -0.2 0.1-3.8 -1.6 -1.4 -0.6 -0.5
-4.0 -4.1 -4.1 -2.9 -3.1-6.2 -4.2 -3.7 -3.0 -2.6-6.4 -4.5 -4.3 -3.3 -3.0
99.6 102.2 104.1 105.1 106.783.8 86.0 89.3 91.1 92.178.4 81.0 83.8 85.5 86.8
8www.nbb.be
Economic indicators for B
elgium
N
° 2016-01
08/01/2016
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
2014 2015O N D J F M A M J J A S O
21.8 19.3 17.9 17.9 19.5 21.2 20.5 19.3 21.9 19.6 16.4 19.9 22.121.8 19.7 19.9 19.0 19.2 22.5 20.7 19.7 21.9 18.9 17.2 19.3 21.00.0 -0.5 -1.9 -1.1 0.3 -1.3 -0.1 -0.3 0.0 0.7 -0.7 0.6 1.1
242.8 242.2 241.3 239.4 239.0 239.1 238.6 237.8 238.9 237.6 237.1 235.2 235.5249.4 248.6 248.3 246.2 245.1 245.8 245.4 244.9 246.0 244.5 242.5 239.7 238.8
-6.6 -6.4 -7.0 -6.7 -6.2 -6.7 -6.8 -7.2 -7.1 -6.9 -5.4 -4.4 -3.3
-0.4 -0.2 -0.3 -0.3 -0.4 -0.3 0.0 0.2 0.4 0.6 0.5 0.2 n.-1.0 -1.0 -1.5 -1.8 -1.9 -1.6 -1.0 -0.6 -0.3 -0.2 -0.4 -0.5 n.0.6 0.9 1.2 1.5 1.5 1.3 1.0 0.8 0.7 0.8 0.9 0.8 n.
2.7 2.1 1.3 0.2 -0.3 -0.2 -1.0 -1.4 -1.5 -2.1 -2.3 -3.3 n.1.5 1.6 1.7 1.0 0.8 1.1 0.3 0.0 -0.1 -0.9 -1.9 -3.4 n.1.2 0.5 -0.4 -0.8 -1.1 -1.3 -1.3 -1.4 -1.4 -1.2 -0.4 0.1 n.
2010 2011 2012 2013 2014 2015−3
−2
−1
0
1
2
3
Grafique Balance sheet 7
2010 2011 2012 2013 2014 2015100105110115120125130135140145150155
Uitvoer
Invoer
9www.nbb.be
Econ
omic
indi
cato
rs fo
r Bel
gium
N°
2016
-01
08
/01/
2016
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 2015S O N D J F M A M J J A S
-0.5 -0.5 -0.6 -0.9 -0.6 0.4 -3.2 -2.8 -3.6 -3.6 -1.1 0.4 0.8-4.3 -4.1 -3.7 -3.9 -3.6 -2.9 -3.3 -3.2 -3.5 -3.5 -3.0 -1.4 -0.25.6 5.7 5.7 5.2 5.1 5.2 2.3 2.2 2.3 2.4 4.3 4.4 3.94.8 4.4 4.0 4.2 4.3 4.5 4.4 4.8 4.4 4.2 4.3 4.2 3.9-6.6 -6.6 -6.6 -6.4 -6.4 -6.5 -6.5 -6.6 -6.7 -6.6 -6.7 -6.8 -6.8
-0.5 -0.6 -0.6 -1.0 -0.8 -0.8 -0.7 -0.7 -0.6 -0.6 -0.5 -0.4 -0.4
1.2 -0.3 -0.4 -2.3 -1.2 0.4 1.5 1.9 2.7 -2.8 -1.5 2.0 1.925.9 18.4 18.4 10.3 13.8 17.6 8.6 7.7 3.5 -3.2 -5.7 -2.4 -5.136.6 -2.9 4.7 20.8 16.6 20.6 21.1 17.0 19.3 14.5 13.7 20.6 -10.0
-10.7 21.3 13.7 -10.5 -10.3 -15.1 -20.4 -16.5 -27.4 -19.1 -9.4 -7.0 -16.5
-10.2 -2.2 -2.8 -9.4 8.1 22.3 32.1 36.6 32.8 30.6 30.8 30.8 33.1-0.6 -0.2 -0.9 -2.5 -2.9 -4.1 -3.2 -4.4 -4.6 -4.0 -4.2 -2.3 -3.7
-13.3 -15.6 -14.6 0.3 -19.3 -35.2 -36.2 -38.2 -29.3 -26.7 -23.0 -25.0 -23.0-0.6 -0.7 -0.6 -1.0 -0.9 -0.2 0.2 0.2 0.2 0.5 0.7 0.9 0.6
2.2 0.8 0.8 -0.4 -2.3 -0.7 -1.7 0.4 0.7 -1.7 -0.3 -2.5 -1.9
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
10www.nbb.be
Economic indicators for B
elgium
N
° 2016-01
08/01/2016
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
2014 2015−1
0
1
2
3
4
2013
−1
0
1
2
3
4
20142013 20150
1
2
3
4
20142013 2015
0
1
2
3
4
2013 2014 2015
−1
0
1
2
3
4
7/1/2015
7/12/2015
7/1/2016
hulplijn
11www.nbb.be
Econ
omic
indi
cato
rs fo
r Bel
gium
N°
2016
-01
08
/01/
2016
g Financial markets
Interest rates
Sources: ECB, NBB.(1) Minimumbidrate.(2) Weightedaveragerate.(3) Floatingrateandupto1yearinitialratefixation.(4) Ten-yeargovernmentbond.______________________________________________________________________________________________________________________
EUROSySTEM
EURO
EUROyIELDCURVE
Mainrefinancingoperations(¹)
Marginallendingfacility
Depositfacility
PUBLIC DEBTLENDINGRATESByCREDITINSTITUTIONS
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
2014 2015N D J F M A M J J A S O N
9239 9333 9423 9440 9478 9569 9596 9585 9652 9645 9636 9750 9808
10196 10313 10402 10423 10469 10569 10603 10603 10683 10675 10663 10779 10842
148.6 150.3 154.2 151.0 159.4 160.1 163.8 168.0 165.5 164.3 167.3 168.5 172.6
26.3 26.1 24.8 26.0 27.1 25.3 23.2 20.5 22.5 22.6 23.5 23.0 22.7
281.4 281.7 284.9 285.5 286.4 288.3 289.9 290.8 292.0 292.7 292.0 293.5 293.9
6.6 10.8 19.8 26.1 27.4 27.4 27.2 26.2 35.9 38.9 32.4 32.6 35.3
462.8 468.8 483.6 488.5 500.2 501.1 504.1 505.6 516.0 518.6 515.1 517.6 524.5
0,60,70,80,9
11,11,21,31,41,51,61,7
20142013 2015
100015002000250030003500400045005000
105001200013500150001650018000195002100022500
20142013 201520000
24000
28000
32000
36000
40000
44000
30405060708090100110120130
20142013 2015
60708090
100110120130140
20142013 2015
12www.nbb.be
Economic indicators for B
elgium
N
° 2016-01
08/01/2016
g Financial markets (continued)
Exchangerates
Stockandcommoditiesmarket
Sources:ECB,BIS,Euronext.______________________________________________________________________________________________________________________
Monetaryaggregates(1)
EURO AREA M3excludingcurrencyincirculation M3
ofwhich:by MFI(2) in BELGIUM Deposits overnight withagreedmaturityupto2years redeemableatnoticeupto3months OthersM3(3) components M3(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 2015I II III IV I II III IV I II
1112.3 1124.9 1135.1 1140.7 1154.3 1165.2 1175.5 1187.6 1217.7 1214.0155.0 164.0 157.4 163.3 162.0 170.3 164.4 174.1 179.3 182.31317.3 1314.1 1299.9 1323.3 1318.9 1336.0 1336.8 1394.0 1423.4 1454.0
230.4 233.1 234.2 235.2 237.2 242.4 245.9 248.9 251.8 254.1518.9 517.5 514.0 516.4 542.2 556.1 561.6 575.7 599.6 578.61682.0 1699.3 1694.1 1679.8 1678.8 1688.0 1688.7 1754.0 1802.9 1826.0
881.9 891.8 900.9 905.5 917.1 922.8 929.7 938.6 966.0 959.9-363.9 -353.5 -356.6 -353.1 -380.2 -385.8 -397.1 -401.6 -420.4 -396.3-364.7 -385.2 -394.2 -356.5 -359.9 -351.9 -351.9 -360.0 -379.5 -372.0
13www.nbb.be
Econ
omic
indi
cato
rs fo
r Bel
gium
N°
2016
-01
08
/01/
2016
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:08/01/2016 Nextissue:15/01/2016
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
