Economic indicators for BelgiumEconomic indicators for Belgium N 2020-22 2020-05-29 g Real GDP...
Transcript of Economic indicators for BelgiumEconomic indicators for Belgium N 2020-22 2020-05-29 g Real GDP...
1www.nbb.be
1www.nbb.be
2017 2018 2019 2020 2021
1.8 1.5 1.1 1.8 - -6.9 1.4 - 1.5 - 6.5 1.3 -0.0 1.0 1.8 1.3 - 2.8 1.4 - 1.2 - 0.3 1.1 -1.3 4.0 3.2 1.8 - -15.3 1.7 - 1.8 - 15.9 1.4 -5.3 1.2 1.1 1.1 - -10.6 0.9 - 2.0 - 7.7 1.2 -4.4 2.1 1.0 1.6 - -10.2 1.3 - 2.5 - 8.1 1.5 -1.9 1.5 1.4 1.2 - -7.2 1.1 -3.7 1.1 - 6.7 1.1 4.0
2.5 1.9 1.2 - 0.8 -7.7 1.1 -5.2 1.3 6.3 1.2 4.32.7 2.1 1.5 - - -7.4 - - - - 6.1 - -
2.2 2.3 1.2 1.3 - 0.2 1.1 0.4 1.5 - 1.3 1.5 1.52.1 2.1 1.4 1.3 - - - - 1.5 - - - -1.8 1.8 1.5 1.3 - - - - 1.6 - - - -
1.5 1.8 1.2 - 1.1 0.2 1.1 0.2 - 1.4 1.1 1.4 1.41.6 1.8 1.4 - - 0.6 - - - - 1.3 - -
1.4 1.4 2.3 1.6 - - - - 2.1 - - - -1.2 1.8 2.3 1.1 - 5.1 1.6 - 1.5 - -4.0 1.8 -
0.7 1.8 2.1 - 1.6 4.3 1.8 - - 1.2 -1.9 1.6 -1.0 2.1 2.2 - - 4.3 - - - - -1.6 - -
1www.nbb.be
Econ
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N° 2
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5-29
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-27
CONSUMER PRICES
Belgium HICP Nationalgeneralindex Nationalhealthindex
InternationalcomparisonofHICP Euro area(3)
EU-27
LABOUR COSTS IN THE PRIVATE SECTOR(2)
Belgium Labourcostsperhourworked Unit labour costs
Unit labour costs Euro area(1)
EU-27
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° 2020-22 2020-05-29
* Sources: Belgium (NAI, NBB, Statbel, EC); Euro area, EU-27 (ECB, Eurostat).** The2020and2021forecastsfromtheNBBareconsistentwiththeDecember2019estimates(nextupdate:EconomicrevueJune2020).Usersshouldbeawarethat estimatesofthiskindcansometimesbeoutofdateowingtochangesintheinformationavailable.Theoldertheestimates,thegreaterthisriskbecomes.Publicationof theestimatethereforesimplymeansthatitisthelatestestimatereleasedbytheNBB. ECBstaffmacroeconomicprojectionsMarch2020(nextissueJune2020); OECDEconomicOutlookNovember2019(nextreleaseJune2020); ECEuropeanEconomicForecastSpring2020(nextreleaseAutumn2020)andBPNMarch2020(nextreleaseJune2020).*** Averageofthecreditinstitutionswhichparticipateinthe«Belgian Prime News».(1) Euroarea=EA19,excepttheOECDforecasts.(2) ExceptfortheactualfiguresoftheEuroareaandtheEU-27andtheECandOECDforecastswhichpertaintothewholeeconomy.(3) Euro area = EA11-2000, EA12-2006, EA13-2007, EA15-2008, EA16-2010, EA17-2013, EA18-2014, EA19.
2www.nbb.be
2www.nbb.be
2017 2018 2019 2020 2021
1,6 1,4 1,6 1,0 - -1,0 0,7 0,2 0,6 - 1,2 0,5 0,2-5,0 -5,8 -3,8 -5,1 - - - - -1,8 - - - -
76,8 66,4 77,0 47,0 - - - - 30,4 - - - --27,5 -30,4 -18,8 -24,4 - - - - -8,2 - - - -
7,1 6,0 5,4 5,4 - 7,0 5,5 6,1 5,4 - 6,6 5,5 6,1
9,1 8,2 7,6 - 7,6 9,6 7,5 8,5 - 7,6 8,6 7,4 8,38,2 7,3 6,8 - - 9,0 - - - - 7,9 - -
1,6 1,3 0,1 -0,4 - -6,8 -0,6 - -0,9 - -2,4 -0,7 --0,7 -0,8 -1,9 -2,1 - -8,9 -2,0 -4,5 -2,6 - -4,2 -1,9 -3,0
101,8 99,9 98,7 99,2 - 113,8 99,5 103,8 99,8 - 110,0 99,4 103,6
-1,0 -0,5 -0,6 - -1,1 -8,5 -0,9 -3,5 - -1,5 -3,5 -1,0 -2,1-0,8 -0,4 -0,6 - - -8,3 - - - - -3,6 - -
1,2 -1,4 -1,2 -2,0 - -0,1 -1,5 -2,0 -2,1 - -0,3 -1,8 -1,2
3,1 3,1 2,7 - 3,1 2,7 3,1 2,4 - 3,1 3,0 2,9 2,23,1 3,0 2,8 - - 2,7 - - - - 3,0 -
2www.nbb.be
Economic indicators for B
elgium
N
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2020-05-29
g Summary (continued)
LABOUR MARKET
Belgium Totalemployment Unemployment
Totalemployment Unemployment
Harmonisedunemploymentrate(1)
Internationalcomparisonofharmonisedunemploymentrate(1)
Euro area(2)
EU-27
GENERAL GOVERNMENT
Belgium Primarybalance Overall balance Consolidatedgrossdebt
Internationalcomparisonofoverallbalance Euro area(2)
EU-27
CURRENT ACCOUNT
Belgium
International comparison Euro area(2)
EU-27
ACTUAL FIGURES* FORECASTS**
(annual changes in percentages)
(annual changes in thousands)
(annual averages in percentages of labour force)
(percentages of GDP)
(percentages of GDP)
NBB ECB EC OECD BPN*** NBB ECB EC OECD BPN***
* Sources: Belgium (NAI, NBB, Statbel, EC); Euro area, EU-27 (ECB, Eurostat).** The2020and2021forecastsfromtheNBBareconsistentwiththeDecember2019estimates(nextupdate:EconomicrevueJune2020).Usersshouldbeawarethat estimatesofthiskindcansometimesbeoutofdateowingtochangesintheinformationavailable.Theoldertheestimates,thegreaterthisriskbecomes.Publicationof theestimatethereforesimplymeansthatitisthelatestestimatereleasedbytheNBB. ECBstaffmacroeconomicprojectionsMarch2020(nextissueJune2020); OECDEconomicOutlookNovember2019(nextreleaseJune2020); ECEuropeanEconomicForecastSpring2020(nextreleaseAutumn2020)andBPNMarch2020(nextreleaseJune2020).*** Averageofthecreditinstitutionswhichparticipateinthe«Belgian Prime News».(1) ThisseriescorrespondswiththeresultsoftheLabourForceSurvey(LFS,Populationolderthan15years),monthlyadjustedbyusingtheadministrativenational unemploymentfigures,inaccordancewiththeEurostat’smethodology.(2) Euroarea=EA19,excepttheOECDforecasts.
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-12-10-8-6-4-202468
1012
2012 2013 2014 2015 2016 2017 2018 2019 2020
-4,8
-4
-3,2
-2,4
-1,6
-0,8
0
0,8
1,6
2012 2013 2014 2015 2016 2017 2018 2019 2020
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2018 2019 2020I II III IV I II III IV I
108 784 109 098 109 282 110 158 110 268 110 587 111 037 111 572 107 561
0.2 0.3 0.2 0.8 0.1 0.3 0.4 0.5 -3.61.5 1.5 1.5 1.5 1.4 1.4 1.6 1.3 -2.5
0.3 0.4 0.2 0.4 0.5 0.1 0.3 0.1 -3.8(4)
0.4 0.4 0.3 0.5 0.5 0.2 0.4 0.2 -3.3(4)
2.6 2.2 1.6 1.2 1.4 1.2 1.3 1.0 -3.2(4)
2.7 2.4 1.9 1.5 1.7 1.5 1.6 1.3 -2.6(4)
1.8 1.4 1.3 1.4 0.5 0.6 1.4 1.8 -4.80.8 1.6 0.7 1.2 1.4 1.5 2.2 2.2 -1.33.8 3.3 3.8 5.0 4.2 3.7 3.9 0.9 -2.63.8 3.0 4.0 4.6 3.9 3.5 4.1 1.4 -1.4-1.0 0.1 0.3 4.7 5.6 6.8 4.4 3.0 -4.613.9 11.3 9.7 8.9 4.0 -0.8 1.4 -6.1 -6.61.8 0.7 1.8 0.5 0.7 2.2 1.1 0.4 -3.01.9 1.3 3.2 1.9 1.1 2.3 0.6 0.1 -3.81.5 1.5 1.5 1.5 1.4 1.4 1.6 1.3 -2.5
-0.8 -1.7 -1.9 -2.2 -0.2 0.6 1.4 1.3 -1.71.6 2.5 5.2 5.3 4.3 3.8 3.5 3.5 -2.62.1 2.2 2.3 2.3 1.8 1.7 1.7 1.1 -2.11.5 1.5 1.5 1.5 1.4 1.4 1.6 1.3 -2.5
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Econ
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N° 2
020-
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5-29
g Real GDP
GDP(1)
Belgium GDPinchained2015euros
vs the previous quarter
vsthecorrespondingquarterofthe previousyear
International comparison vs the previous quarter Euro area(2)
EU-27
vsthecorrespondingquarterofthe previousyear
Euro area(2)
EU-27
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-27 (Eurostat).(1) Adjustedforseasonalandcalendareffects.(2) Euro area = EA19.(3) Percentage changes versus previous quarter.(4) Estimation.
BELGIUM(3) INTERNATIONAL COMPARISON OF GDP(3)
Final private consumption
Final public consumption
Grossfixedcapitalformation EU-27
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
4www.nbb.be
2017 2018 2019 2020IV I II III IV I II III IV I
4775.3 4789.8 4807.6 4826.8 4844.2 4864.4 4880.3 4906.3 4924.4 4916.7
64.1 63.9 63.7 65.0 65.2 64.5 65.6 65.8 65.3 n.69.6 69.3 69.0 70.1 70.5 69.8 71.0 70.7 70.5 n.
66.8 66.4 67.3 67.8 67.6 67.3 68.0 68.2 68.3 n.71.4 71.0 71.9 72.3 72.2 72.0 72.7 72.8 72.9 n.
67.1 66.8 67.7 68.2 67.9 67.7 68.5 68.8 68.6 n.71.7 71.4 72.4 72.8 72.6 72.4 73.2 73.4 73.3 n.
2019 2020A M J J A S O N D J F M A
465 452 453 495 500 489 477 465 470 475 472 478 49975 70 70 85 91 95 89 84 83 83 81 80 83
389 382 383 409 409 394 388 381 387 392 391 398 416
5.5 5.5 5.4 5.3 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.3 n.
7.6 7.6 7.5 7.6 7.5 7.5 7.4 7.4 7.3 7.3 7.3 7.4 n.6.8 6.7 6.7 6.7 6.7 6.7 6.6 6.6 6.5 6.5 6.5 6.6 n.
2019 2020A M J J A S O N D J F M A
4.2 4.5 6.4 4.9 3.4 5.5 6.0 4.2 4.8 3.3 5.4 0.8 n.
-3.1 -5.1 -6.7 -5.0 -6.7 3.5 6.7 27.4 30.4 21.7 6.4 -18.3 -48.9
2017 2018 2019 2020IV I II III IV I II III IV I
4.9 1.2 3.1 4.3 2.7 2.3 -0.5 0.7 -0.3 -4.0
2.9 2.2 3.0 9.8 14.0 5.7 2.9 2.7 -3.7 -1.8
4www.nbb.be
Economic indicators for B
elgium
N
° 2020-22
2020-05-29
g Activity and labour market indicators
Activity
Labour market
EMPLOYMENT
Belgium Domesticemployment(3)
Employmentrate(4) 15-64years 20-64years
Internationalcomparisonoftheemploymentrate(4)
Euro area(5) 15-64years 20-64years
EU-27 15-64years 20-64years
UNEMPLOYMENT
Belgium Unemployment(6)
<25yearsold ≥25yearsold
Harmonisedunemploymentrate(7)
Internationalcomparisonofharmonisedunemploymentrate(7)
Euro area(5)
EU-27
Sources:NBB;Statbel,SMEs,Self-employedandEnergy;NEO;FEBIAC;Eurostat;NAI.(1) FollowingachangeinthedatacollectionatStatbelfromJanuary2020,thisserieshasbeenrevisedandnowincludesonlydatarelatingtothe miningandquarryingindustries,manufacturingandelectricity,gas,steamandairconditioningsupply(sectionsB-C-D).(2) BasedonVAT-declaration.(3) Quarterlyaverageofthenumberofemployeesandself-employedpersons,seasonallyadjusted.(4) Harmoniseddatafromthequarterlylabourforcesurvey(LFS),unadjusteddata.Breakinseriesin2017-Iduetothereformandmodernization oftheLFS. (5) Euro area = EA19.(6) Fullyunemployedpersonsreceivingbenefits,compulsorilyandvoluntarilyregisteredjob-seekers;grossdata.(7) ThisseriescorrespondswiththeresultsoftheLabourForceSurvey(LFS,groupof15-74years),monthlyadjustedbyusingtheadministrative nationalunemploymentfigures,inaccordancewiththeEurostat’smethodology.
(percentages of the population of working age)
(in thousands)
(percentages of the labour force)
(in thousands, end of period)
Industrialproduction,excludingbuilding(1)
Newcarregistrationsincludingmixedcars
(percentage changes in the average for the last 3 months compared to the corresponding period of the previous year)
Total turnover(2)
Investments(2)
(percentage changes compared to the corresponding period of the previous year)
NBB.Stat
NBB.Stat
NBB.Stat
5www.nbb.be
4045505560657075808590
-40-35-30-25-20-15-10
-505
10
2013 2014 2015 2016 2017 2018 2019 2020-40-35-30-25-20-15-10-505
10
2013 2014 2015 2016 2017 2018 2019 2020
-70-60-50-40-30-20-100102030
-70
-60
-50
-40
-30
-20
-10
0
10
2013 2014 2015 2016 2017 2018 2019 2020-30
-25
-20
-15
-10
-5
0
5
10
2013 2014 2015 2016 2017 2018 2019 2020
-50
-40
-30
-20
-10
0
10
20
2013 2014 2015 2016 2017 2018 2019 2020-30
-25
-20
-15
-10
-5
0
5
10
2013 2014 2015 2016 2017 2018 2019 2020
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Econ
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N° 2
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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) MANUFACTURING INDUSTRY
TRADE & BUSINESS-RELATED SERVICESBUILDING INDUSTRY
Seasonallyadjustedandsmoothedseries
Seasonallyadjustedseries
services(right-handscale)
trade
EXPECTATIONS(4) ON THE GENERAL ECONOMICSITUATIONCONSUMER CONFIDENCE INDEX(3)
useofproduction capacity(2)
(right-handscale)
NBB.Stat
NBB.Stat
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0
1
2
3
2014 2015 2016 2017 2018 2019 2020-2
-1
0
1
2
3
4
5
2014 2015 2016 2017 2018 2019 2020
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2014 2015 2016 2017 2018 2019
0.5 0.6 1.8 2.2 2.3 1.2-6.0 -8.0 -0.6 9.9 8.9 -0.8-1.3 2.1 2.6 -0.2 1.8 -0.42.1 1.6 3.5 1.8 2.9 1.71.5 1.6 1.8 1.5 1.3 1.50.3 0.5 1.0 0.8 0.8 1.02.3 2.4 2.2 1.9 1.6 1.8
0.3 0.6 2.0 2.1 2.1 1.40.4 1.1 2.1 1.8 1.8 1.5
0.4 0.2 0.2 1.5 1.8 1.2-1.9 -6.8 -5.1 4.9 6.4 1.1-0.8 1.6 1.4 2.4 2.3 1.41.2 0.6 0.6 1.5 2.1 1.90.8 1.1 0.8 1.0 1.0 1.00.1 0.3 0.4 0.3 0.3 0.31.2 1.5 1.1 1.4 1.5 1.5
6www.nbb.be
Economic indicators for B
elgium
N
° 2020-22
2020-05-29
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;Statbel,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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2019 2020M J J A S O N D J F M A M
1.7 1.3 1.2 0.9 0.6 0.2 0.4 0.9 1.4 1.0 0.4 0.0 -0.2(5)
3.7 -1.3 -2.8 -4.6 -5.3 -9.0 -8.6 -3.7 -0.3 -5.6 -11.8 -16.8 -18.9(5)
-0.1 0.6 0.3 0.7 -2.5 -2.5 -1.1 0.3 1.1 1.6 2.8 5.7 6.4(5)
1.4 1.7 1.6 1.8 1.7 1.5 1.6 1.5 1.6 2.2 2.6 2.7 2.7(5)
1.5 1.6 1.7 1.4 1.3 1.5 1.5 1.5 1.6 1.7 1.5 1.3 1.3(5)
1.1 1.0 1.6 1.0 0.9 1.0 0.9 1.0 0.4 1.0 1.0 1.0 0.9(5)
1.8 2.0 1.8 1.7 1.7 1.8 1.9 1.8 2.4 2.1 1.9 1.6 1.6(5)
1.9 1.7 1.4 1.3 0.8 0.5 0.4 0.8 1.4 1.1 0.6 0.6 0.51.8 1.9 1.5 1.4 1.0 0.7 0.5 0.7 1.1 1.0 0.8 1.1 1.1
1.2 1.3 1.0 1.0 0.8 0.7 1.0 1.3 1.4 1.2 0.7 0.3 0.1(5)
3.8 1.7 0.5 -0.6 -1.8 -3.1 -3.2 0.2 1.9 -0.3 -4.5 -9.7 -12.0(5)
0.4 0.7 1.7 2.5 0.7 0.7 1.8 2.1 2.3 2.6 3.6 7.6 6.5(5)
1.9 1.9 2.0 1.9 1.8 1.8 2.0 2.0 2.0 2.0 2.1 2.3 2.4(5)
0.8 1.1 0.9 0.9 1.0 1.1 1.3 1.3 1.1 1.2 1.0 0.9 0.9(5)
0.3 0.3 0.4 0.3 0.2 0.3 0.4 0.5 0.3 0.5 0.5 0.3 0.2(5)
1.0 1.6 1.2 1.3 1.5 1.5 1.9 1.8 1.5 1.6 1.3 1.2 1.3(5)
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Econ
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N° 2
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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;Statbel,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
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2015 2016 2017 2018 2019
44.4 43.6 44.1 44.3 43.316.3 16.0 16.6 16.8 15.813.2 13.4 13.3 13.4 13.514.1 13.5 13.4 13.3 13.30.9 0.8 0.8 0.8 0.7
6.9 7.1 7.1 7.2 7.151.3 50.7 51.2 51.4 50.4
24.7 24.7 24.5 24.6 24.826.1 25.7 25.1 25.5 25.550.8 50.4 49.6 50.1 50.3
0.5 0.3 1.6 1.3 0.1
2.9 2.7 2.3 2.1 2.0
-2.4 -2.4 -0.7 -0.8 -1.9
-1.3 -2.6 -1.3 -0.2 -2.00.2 -0.1 0.2 0.0 0.2-1.4 0.0 0.2 -0.4 -0.20.1 0.2 0.2 -0.1 0.1
0.5 0.3 1.6 1.3 0.10.3 0.7 1.0 1.4 1.00.3 0.7 1.0 1.3 1.0
-2.4 -2.4 -0.7 -0.8 -1.9-2.0 -1.5 -1.0 -0.5 -0.6-1.9 -1.3 -0.8 -0.4 -0.6
105.2 104.9 101.8 99.9 98.790.9 90.0 87.8 85.8 84.184.7 84.0 81.6 79.6 77.8
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Economic indicators for B
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2020-05-29
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-27 Overall balance Belgium Euro area(4)
EU-27 Consolidatedgrossdebt Belgium Euro area(4)
EU-27
Sources: NAI, NBB, Eurostat.(1) ExcessiveDeficitProcedure(EDP),definitionoftheTreatyontheFunctioningoftheEuropeanUnion.(2) Propertyincome,imputedsocialsecuritycontributions,transfersfromothersectorsandsalesofgoodsandservices.(3) Fromsocialsecurityandallothersubsectorsofgeneralgovernment.(4) Euro area = EA19.
(percentages of GDP)
NBB.Stat
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-2
-1
0
1
2
3
4
2017 2018 2019 2020100
105
110
115
120
125
130
135
2017 2018 2019 2020
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2019 2020M A M J J A S O N D J F M
34.9 34.2 34.1 32.7 34.2 29.8 33.4 35.6 32.6 30.3 33.9 32.9 31.433.8 33.6 33.9 31.4 31.2 28.3 31.3 33.5 31.0 29.4 32.3 30.3 29.61.1 0.6 0.2 1.4 3.0 1.5 2.1 2.1 1.6 0.8 1.6 2.6 1.7
397.0 399.9 400.7 398.4 399.2 397.6 398.1 398.1 397.0 397.7 397.9 398.6 395.0385.3 388.7 390.9 389.2 387.9 385.7 385.5 384.6 382.0 381.0 380.6 380.0 375.911.7 11.2 9.8 9.2 11.2 12.0 12.6 13.5 15.1 16.7 17.3 18.5 19.2
6.1 6.1 5.7 4.6 4.4 3.3 2.5 1.4 0.7 0.7 0.8 1.2 n.8.1 8.4 7.7 6.3 5.7 4.8 3.5 2.7 1.9 1.9 1.7 1.7 n.-2.0 -2.2 -1.9 -1.7 -1.4 -1.5 -1.0 -1.4 -1.2 -1.2 -1.0 -0.6 n.
-2.5 -2.1 -1.5 -1.5 -2.0 -1.8 -1.3 -0.8 -0.5 -0.5 -0.5 -0.8 n.-2.7 -2.5 -1.3 -1.1 -2.1 -2.3 -1.6 -1.9 -2.4 -2.4 -2.6 -2.9 n.0.2 0.4 -0.2 -0.4 0.1 0.5 0.3 1.1 1.9 1.9 2.2 2.2 n.
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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(2010 = 100)
Export
Import
BALANCE(inbillionsofeuro)
Source: NAI.(1) From15/01/2020thefocusontheevolutionofforeigntradewillbeshiftedtothecommunityconceptinsteadofthenationalconcept. ThefiguresontheNBB.Statwebsiteremainfullyavailableinnationalandincommunityconcept.
NBB.Stat
10www.nbb.be
140150160170180190200210220230240250260270
-2500
-1500
-500
500
1500
2500
3500
-9
-6
-3
0
3
6
9
2017 2018 2019 20202019 20202017 2018
10www.nbb.be
2018 2019D J F M A M J J A S O N D
-6.4 -7.5 -7.6 -7.7 -8.2 -8.0 -9.0 -7.9 -7.7 -7.8 -7.4 -6.1 -5.8-0.7 -1.9 -1.6 -1.9 -2.0 -3.1 -3.7 -2.4 -2.3 -2.3 -1.8 -0.9 -0.30.0 0.3 0.2 0.2 0.1 0.1 -0.3 -0.4 -0.1 0.0 0.0 0.6 0.51.2 1.1 0.9 1.0 0.7 1.9 1.9 1.7 1.4 1.0 1.1 0.9 0.5-6.8 -6.9 -7.1 -7.0 -6.9 -6.9 -6.9 -6.8 -6.7 -6.5 -6.6 -6.6 -6.5
0.1 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.5 0.5 0.6
-7.8 -9.8 -9.2 -10.2 -12.3 -10.7 -11.1 -11.9 -11.5 -10.7 -9.1 -2.9 -5.27.4 3.3 13.0 9.5 -2.0 5.5 11.9 13.1 8.7 4.3 -12.0 -2.4 8.9
39.7 44.8 41.7 52.3 52.4 60.3 63.3 67.1 66.3 62.0 41.3 29.8 33.2-32.2 -41.4 -28.7 -42.8 -54.4 -54.8 -51.4 -54.0 -57.6 -57.7 -53.3 -32.2 -24.2-3.0 0.5 -23.6 -12.5 -19.3 -28.6 -23.0 -28.3 -27.5 -19.0 -16.2 -2.1 -7.34.3 1.2 0.9 1.7 0.6 0.3 -0.3 -0.3 0.1 -1.7 -3.0 -3.0 -4.2
-17.2 -15.5 -0.3 -9.4 7.6 11.5 0.0 2.9 6.8 5.3 21.9 4.3 -2.70.7 0.7 0.6 0.4 0.8 0.6 0.4 0.5 0.4 0.4 0.3 0.2 0.0
-1.6 -2.4 -1.9 -2.8 -4.5 -3.1 -2.5 -4.4 -4.2 -3.3 -2.2 2.7 0.0
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Economic indicators for B
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N
° 2020-22
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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)
INTERNATIONAL INVESTMENT POSITION (quarterlydatainbillionsofeuro)
Netexternalassetposition(right-handscale)
Assets
Liabilities(left-handscale)
NBB.Stat
NBB.Stat
11www.nbb.be
-1,0
-0,5
0,0
0,5
1,0
1,5
2,0
-2
-1
0
1
2
3
0
0,5
1
1,5
2
2,5
3
-1
0
1
2
3
4
-1,0
-0,5
0,0
0,5
1,0
1,5
2,0
28/05/2019 28/04/2020 28/05/2020
2018
2018
2018 2019
2019
2019
2018 2019
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g Financial markets
Interest rates
Sources: ECB, NBB.(1) Minimumbidrate.(2) Weightedaveragerate.(3) Floatingrateandupto1yearinitialratefixation.(4) Ten-yeargovernmentbond.
EUROSYSTEM
EUROEURO YIELD CURVE
Mainrefinancingoperations(¹)
Marginallendingfacility
Depositfacility
PUBLIC DEBT
BELGIUM
INTERNATIONAL COMPARISON
Treasurycertificates
Referenceloan:OLO10years
Tohouseholdsforhousepurchases:floatingrateandupto1yearinitialratefixation
over10yearsinitialratefixation
Tonon-financialcorporations:uptoanamountofEUR1million(3)
overanamountofEUR1million(3)
LONG TERM(4)
UnitedStates
Germany
Japan
logarithmic scale
1w. 1m. 3m. 6m. 1y. 3y. 5y. 10y.
NBB.Stat
LENDING RATES BY CREDIT INSTITUTIONS
12www.nbb.be
0,60,70,80,91,01,11,21,31,41,51,61,7
14000
16000
18000
20000
22000
24000
26000
28000
30000
32000
1800
2300
2800
3300
3800
4300
4800
10
20
30
40
50
60
70
80
90
100
27000
30000
33000
36000
39000
42000
45000
48000
51000
54000
60
70
80
90
100
110
120
130
140
2018
2018 2018
2018
2019 2019
20192019
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2019 2020A M J J A S O N D J F M A
11412 11491 11550 11598 11713 11678 11729 11827 11764 11782 11875 12205 12364
12591 12675 12741 12798 12915 12883 12937 13042 12995 13006 13104 13458 13637
226.7 231.1 228.6 228.1 225.1 227.6 230.1 232.7 229.1 230.5 230.9 240.5 248.3
14.5 14.0 13.2 13.0 12.8 12.9 11.9 11.9 11.0 11.3 10.2 12.1 12.7
318.1 321.2 323.4 323.8 325.2 325.2 325.4 325.7 327.6 328.8 329.5 328.2 329.1
24.2 26.4 26.4 22.9 24.8 24.6 22.8 21.3 21.0 21.6 25.6 30.9 32.4
583.5 592.8 591.6 587.7 587.9 590.4 590.2 591.7 588.6 592.3 596.3 611.8 622.7
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Economic indicators for B
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N
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g Financial markets (continued)
Exchangerates
Stockandcommoditiesmarket
Sources:ECB,BIS,Euronext.
Monetaryaggregates(1)
EURO AREA M3excludingcurrencyincirculation M3
ofwhich:byMFI(2) in BELGIUM Deposits overnight withagreedmaturityupto2years redeemableatnoticeupto3months Others M3(3) components M3(3)
Sources: NBB, ECB.(1) M3comprisescurrencyincirculation,depositswithagreedmaturityupto2years,repurchaseagreements(excludetheRepurchase agreementswithCentralcounterparties-CCPs),moneymarketfundshares/units,moneymarketpaperanddebtsecuritiesupto2years.(2) MonetaryFinancialInstitutions.(3) Excludingcurrencyincirculation.
(end of period, in billions of euro)
REFERENCE EXCHANGE RATE NOMINAL EFFECTIVE EXCHANGE RATE (2010 = 100)
USdollar/euroPoundsterling/euroJapaneseyen(100)/euro
USdollarEuro
Japaneseyen
STOCK MARKET COMMODITIES MARKET
Left-handscale:
Right-handscale:DowJonesIndustrial
BEL 20DJEuropeStoxx50PIDXNikkei
GoldinBrussels(EUR/kg,left-handscale)
Brent(USD/barrel,right-handscale)
NBB.Stat
NBB.Stat
NBB.Stat
13www.nbb.be
13www.nbb.be
2017 2018 2019III IV I II III IV I II III IV
1321.0 1335.2 1325.3 1336.2 1331.6 1309.0 1357.5 1376.4 1394.2 1400.2 201.1 200.5 202.9 203.8 203.3 203.2 205.3 211.6 212.5 206.9
1485.8 1538.9 1507.2 1507.9 1493.6 1413.0 1460.8 1429.8 1478.1 1464.8
276.1 278.2 281.6 284.5 285.9 289.7 293.1 297.6 301.0 306.3 588.7 582.9 592.1 591.2 590.6 590.2 611.5 626.5 646.7 618.2
1931.5 1952.8 1933.7 1935.6 1915.7 1859.6 1900.9 1888.0 1921.4 1916.3
1044.8 1057.0 1043.7 1051.7 1045.8 1019.3 1064.4 1078.8 1093.2 1094.0 -387.6 -382.4 -389.3 -387.4 -387.4 -387.0 -406.2 -414.9 -434.1 -411.3 -445.7 -413.9 -426.6 -427.7 -422.1 -446.6 -440.1 -458.2 -443.3 -451.5
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g Conventional signs indicatesdatawhichhavebeenupdatedsincethepreviouspublication.0.0 nilorlessthanhalfthesmallestdigitconsidered.- datanon-existentormeaningless. n. not available. e estimate.
g InformationWesuggestpeoplewantingmoreinformationaboutthecontents,themethodology,themethodsofcalculationsandthesourcestogetintouchwiththeStatisticalinformationsystemsoftheNationalBankofBelgium.
AlexanderFoket tel.:+3222213045NinoDiZinno tel.:+3222212136E-mail:[email protected]
EditorRudiAcx HeadoftheGeneralStatisticsDepartment
NationalBankofBelgiumboulevarddeBerlaimont14BE-1000Brussels
Closingdate2020-05-29 Nextissue:2020-06-05
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