COMMISSION STAFF WORKING DOCUMENT Statistical Annex Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN CENTRAL BANK, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE, THE COMMITTEE OF THE REGIONS AND THE EUROPEAN INVESTMENT BANK on the Alert Mechanism Report 2013, prepared in accordance with Articles 3 and 4 of the Regulation on the prevention and the correction of macro-economic imbalances /* SWD/2012/0421 final */





Table of Contents: Table 1: The MIP scoreboard 2001. 3 Table 2: The MIP scoreboard 2002. 5 Table 3: The MIP scoreboard 2003. 6 Table 4: The MIP scoreboard 2004. 7 Table 5: The MIP scoreboard 2005. 8 Table 6: The MIP scoreboard 2006. 9 Table 7: The MIP scoreboard 2007. 10 Table 8: The MIP scoreboard 2008. 11 Table 9: The MIP scoreboard 2009. 12 Table 10: The MIP scoreboard 2010. 13 Table 11: The MIP scoreboard 2011. 14 Table 12: The MIP scoreboard for Belgium.. 15 Table 13: The MIP scoreboard for Bulgaria. 16 Table 14: The MIP scoreboard for the Czech Republic. 17 Table 15: The MIP scoreboard for Denmark. 18 Table 16: The MIP scoreboard for Germany. 19 Table 17: The MIP scoreboard for Estonia. 20 Table 18: The MIP scoreboard for Ireland. 21 Table 19: The MIP scoreboard for Greece. 22 Table 20: The MIP scoreboard for Spain. 23 Table 21: The MIP scoreboard for France. 24 Table 22: The MIP scoreboard for Italy. 25 Table 23: The MIP scoreboard for Cyprus. 26 Table 24: The MIP scoreboard for Latvia. 27 Table 25: The MIP scoreboard for Lithuania. 28 Table 26: The MIP scoreboard for Luxembourg. 29 Table 27: The MIP scoreboard for Hungary. 30 Table 28: The MIP scoreboard for Malta. 31 Table 29: The MIP scoreboard for the Netherlands. 32 Table 30: The MIP scoreboard for Austria. 33 Table 31: The MIP scoreboard for Poland. 34 Table 32: The MIP scoreboard for Portugal 35 Table 33: The MIP scoreboard for Romania. 36 Table 34: The MIP scoreboard for Slovenia. 37 Table 35: The MIP scoreboard for Slovakia. 38 Table 36: The MIP scoreboard for Finland. 39 Table 37: The MIP scoreboard for Sweden. 40 Table 38: The MIP scoreboard for the United Kingdom.. 41 Table 39: Additional indicators used in the economic reading of the MIP scoreboard, 2001. 42 Table 40: Additional indicators used in the economic reading of the MIP scoreboard, 2002. 43 Table 41: Additional indicators used in the economic reading of the MIP scoreboard, 2003. 44 Table 42: Additional indicators used in the economic reading of the MIP scoreboard, 2004. 45 Table 43: Additional indicators used in the economic reading of the MIP scoreboard, 2005. 46 Table 44: Additional indicators used in the economic reading of the MIP scoreboard, 2006. 47 Table 45: Additional indicators used in the economic reading of the MIP scoreboard, 2007. 48 Table 46: Additional indicators used in the economic reading of the MIP scoreboard, 2008. 49 Table 47: Additional indicators used in the economic reading of the MIP scoreboard, 2009. 50 Table 48: Additional indicators used in the economic reading of the MIP scoreboard, 2010. 51 Table 49: Additional indicators used in the economic reading of the MIP scoreboard, 2011. 52 Table 50: 3 year average of Current Account Balance as % of GDP. 53 Table 51: Net International Investment Position as % of GDP. 54 Table 52: % Change (3 years) of Real Effective Exchange Rate with HICP deflators. 55 Table 53: % Change (5 years) in Export Market Shares. 56 Table 54: % Change (3 years) in Nominal ULC.. 57 Table 55: % y-o-y change in deflated House Prices. 58 Table 56: Private Sector Credit Flow as % of GDP. 59 Table 57: Private Sector Debt as % of GDP. 60 Table 58: General Government Debt as % of GDP. 61 Table 59: Unemployment rate - 3 year average 62 Table 60: % y-o-y change in Total Financial Sector Liabilities, non-consolidated 63 Table 61: Additional Indicator - % y-o-y growth of real GDP. 64 Table 62: Additional Indicator - Gross fixed capital formation as % GDP. 65 Table 63: Additional Indicator - Gross domestic expenditure on R&D as % GDP. 66 Table 64: Additional Indicator - Current Account balance as % of GDP, BoP data. 67 Table 65: Additional Indicator - Net lending / borrowing as % GDP, BoP data. 68 Table 66: Additional Indicator - Net external debt as % GDP. 69 Table 67: Additional Indicator - FDI Inflows as % GDP. 70 Table 68: Additional Indicator - Net Trade Balance of energy products as % GDP. 71 Table 69: Additional Indicator - % Change (3 years) in REER v.-à-v. EA (17) 72 Table 70: Additional Indicator - % y-o-y change in Export Market Shares, volumes. 73 Table 71: Additional Indicator - % y-o-y growth of Labour Productivity. 74 Table 72: Additional Indicator - % y-o-y growth of Employment 75 Table 73: Additional Indicator - % Change (10 years) in Nominal ULC.. 76 Table 74: Additional Indicator - % Change (10 years) in Effective ULC vs. Euro Area (17) 77 Table 75: Additional Indicator - % Change (3 years) in Nominal House Prices. 78 Table 76: Additional Indicator - Residential Construction as % GDP. 79 Table 77: Additional Indicator - Private Sector Debt as % GDP, consolidated data. 80 Table 78: Financial sector leverage (debt to equity) 81 Table 79: Untransformed headline indicators: Current account balance as % of GDP (BoP data) 82 Table 80: Untransformed headline indicators: Net International Investment Position as % of GDP. 83 Table 81: Untransformed headline indicators: % y-o-y change in Real Effective Exchange Rate with HICP deflators. 84 Table 82: Untransformed headline indicators: % y-o-y change in Export Market Shares. 85 Table 83: Untransformed headline indicators: % y-o-y change in Nominal ULC.. 86 Table 84: Untransformed headline indicators: % y-o-y change in deflated House Prices. 87 Table 85: Untransformed headline indicators: Private Sector Credit Flow as % of GDP. 88 Table 86: Untransformed headline indicators: General Government Debt as % of GDP. 89 Table 87: Untransformed headline indicators: General Government Debt as % of GDP. 90 Table 88: Untransformed headline indicators: Unemployment rate. 91 Notes: (i) cut-off date 1st of November 2012 (ii) source: EUROSTAT except: deflated House Prices (Eurostat data completed by ECB and OECD series), Export Market Shares volumes (WEO IMF), Real Effective Exchange Rate with HIPC deflators (DG ECFIN), Effective ULC vs EA (DG ECFIN). Table 1: The MIP scoreboard 2001 || External imbalances and competitiveness || Internal imbalances Year 2001 || 3 year average of Current Account Balance as % of GDP || Net Interna- tional Invest- ment Position as % of GDP || % Change (3 years) of Real Effective Exchange Rate with HICP deflators || % Change (5 years) in Export Market Shares || % Change (3 years) in Nominal ULC || % y-o-y change in deflated House Prices || Private Sector Credit Flow as % of GDP || Private Sector Debt as % of GDP || General Government Debt as % of GDP || Unemployment rate - 3 year average || % y-o-y Change in Total Financial Sector Liabilities, non-consolidated Thresholds || -4/+6% || -35% || ±5% & ±11% || -6% || +9% & +12% || +6% || 15% || 160% || 60% || 10% || 16.5% BE || 4.2 || na || -3.9 || na || 6.2 || 2.9 || 15.7 || 180 || 107 || 7.3 || 4.1 BG || -5.2 || -27.1 || 11.5 || 0.4 || 9.5 || na || 15.7 || 48 || 66 || na || 6.6 CZ || -4.0 || -10.0 || 6.5 || 17.1 || 10.0 || na || -3.2 || 60 || 24 || 8.4 || 0.8 DK || 2.2 || -16.6 || -3.5 || -1.9 || 7.2 || 3.4 || 20.2 || 177 || 50 || 4.7 || 6.5 DE || -1.0 || 8.7 || -8.8 || -5.3 || 1.5 || na || 4.8 || 133 || 59 || 8.2 || 3.0 EE || -4.9 || -48.3 || 2.6 || 48.7 || 11.3 || na || 20.0 || 81 || 5 || 12.5 || 13.3 IE || -0.3 || -15.2 || -2.2 || 64.0 || 8.0 || 3.7 || na || 150 || 35 || 4.6 || na EL || -6.2 || -46.5 || -5.2 || 72.5 || na || 11.4 || 10.9 || 65 || 104 || 11.3 || 0.8 ES || -3.6 || -35.6 || -2.1 || 2.7 || 8.1 || 6.2 || 18.7 || 133 || 56 || 11.8 || 6.9 FR || 1.8 || -2.0 || -7.7 || -10.5 || 4.8 || 5.8 || 10.4 || 124 || 57 || 9.2 || 5.2 IT || 0.4 || -5.8 || -5.7 || -18.5 || 4.8 || 5.4 || 8.4 || 87 || 108 || 10.0 || -3.0 CY || -3.5 || na || -3.5 || -2.1 || 6.2 || na || 11.9 || 164 || 61 || na || 8.0 LV || -7.1 || -37.6 || 13.3 || 14.9 || -1.4 || -1.0 || 8.9 || 50 || 14 || 13.6 || 20.2 LT || -7.1 || -34.4 || 16.0 || 25.6 || -17.0 || 21.0 || 2.1 || 29 || 23 || 16.1 || 17.8 LU || 10.1 || na || -1.6 || 26.0 || 10.0 || 11.8 || na || na || 6 || 2.2 || na HU || -7.5 || -66.3 || 12.2 || 65.0 || 31.1 || na || 10.3 || 67 || 53 || 6.2 || 6.5 MT || -6.4 || 13.6 || -0.6 || -4.0 || na || 2.7 || na || na || 61 || na || na NL || 2.8 || -13.4 || 0.0 || -8.1 || 9.4 || 6.4 || 13.7 || 191 || 51 || 3.0 || 8.1 AT || -1.1 || -25.6 || -5.0 || -3.8 || 0.4 || na || 7.9 || 127 || 67 || 3.7 || 5.3 PL || -5.5 || -29.5 || 20.0 || 20.3 || 16.4 || na || 3.9 || 43 || 38 || 15.9 || 12.5 PT || -9.8 || -47.5 || -0.3 || -6.5 || 11.0 || 1.9 || 21.9 || 184 || 54 || 4.7 || 6.2 RO || -4.4 || -25.0 || -1.1 || 21.5 || na || na || 7.0 || 30 || 26 || 6.5 || 53.1 SI || -1.9 || -2.2 || -2.5 || -6.2 || 22.2 || na || na || 64 || 27 || 6.8 || na SK || -5.8 || -18.4 || 9.6 || 21.4 || 16.8 || na || 4.3 || 49 || 49 || 18.3 || 9.3 FI || 7.2 || -82.2 || -4.7 || -4.9 || 5.0 || -3.7 || 2.1 || 125 || 43 || 9.7 || 8.3 SE || 4.4 || -25.0 || -12.0 || -11.6 || 9.3 || 5.6 || 14.8 || 203 || 55 || 6.1 || 5.9 UK || -2.4 || -13.4 || -2.3 || -2.4 || 8.6 || 7.1 || 15.8 || 157 || 38 || 5.4 || 5.1 Table 2: The MIP scoreboard 2002 || External imbalances and competitiveness || Internal imbalances Year 2002 || 3 year average of Current Account Balance as % of GDP || Net Interna- tional Invest- ment Position as % of GDP || % Change (3 years) of Real Effective Exchange Rate with HICP deflators || % Change (5 years) in Export Market Shares || % Change (3 years) in Nominal ULC || % y-o-y change in deflated House Prices || Private Sector Credit Flow as % of GDP || Private Sector Debt as % of GDP || General Government Debt as % of GDP || Unemployment rate - 3 year average || % y-o-y Change in Total Financial Sector Liabilities, non-consolidated Thresholds || -4/+6% || -35% || ±5% & ±11% || -6% || +9% & +12% || +6% || 15% || 160% || 60% || 10% || 16.5% BE || 4.0 || 36.6 || -1.9 || na || 7.1 || 5.2 || 8.9 || 180 || 103 || 7.0 || -3.9 BG || -4.4 || -25.3 || 15.4 || 11.7 || 11.3 || na || 5.5 || 48 || 52 || 18.0 || 7.9 CZ || -5.0 || -15.5 || 20.6 || 33.0 || 14.3 || na || 4.3 || 61 || 27 || 8.0 || 8.6 DK || 2.3 || -16.4 || -1.1 || 12.6 || 8.4 || 1.9 || 12.7 || 176 || 50 || 4.5 || 6.3 DE || 0.1 || 5.1 || -5.8 || 4.2 || 1.6 || na || 4.4 || 136 || 61 || 8.2 || -0.5 EE || -7.1 || -54.1 || 4.0 || 23.7 || 11.1 || na || 22.1 || 90 || 6 || 12.2 || 24.5 IE || -0.7 || -17.9 || 4.5 || 60.0 || 8.8 || 5.1 || 24.0 || 161 || 32 || 4.2 || 8.8 EL || -7.2 || -52.9 || -3.5 || 55.0 || na || 11.0 || 7.7 || 68 || 102 || 10.7 || 0.2 ES || -3.7 || -41.6 || 1.0 || 6.9 || 9.4 || 12.6 || 16.6 || 140 || 53 || 11.2 || 4.6 FR || 1.3 || 3.0 || -3.9 || -7.8 || 7.0 || 7.1 || 4.7 || 124 || 59 || 8.5 || 1.6 IT || -0.1 || -12.4 || -2.0 || -14.2 || 7.0 || 6.5 || 6.4 || 90 || 105 || 9.2 || 3.9 CY || -4.1 || 10.6 || 0.8 || 1.7 || 9.6 || na || 14.7 || 174 || 65 || 4.1 || -4.6 LV || -6.4 || -41.3 || 5.1 || 13.9 || -4.9 || 71.7 || 9.8 || 54 || 14 || 13.1 || 24.7 LT || -5.2 || -32.6 || 15.2 || 23.3 || -16.6 || 9.9 || 3.7 || 30 || 22 || 15.9 || 15.9 LU || 10.8 || 100.4 || 0.1 || 26.7 || 11.6 || 7.9 || na || na || 6 || 2.2 || na HU || -7.2 || -65.2 || 20.5 || 43.0 || 34.2 || na || 15.3 || 71 || 56 || 5.8 || 5.7 MT || -4.6 || 34.6 || 1.8 || 9.4 || na || 6.4 || na || na || 59 || 7.3 || na NL || 2.4 || -24.3 || 3.2 || -3.8 || 13.2 || 3.3 || 12.2 || 195 || 51 || 2.9 || 0.3 AT || 0.4 || -20.1 || -3.2 || 6.6 || 0.6 || na || 5.2 || 127 || 66 || 3.8 || 0.7 PL || -4.0 || -34.9 || 19.0 || 22.9 || 8.9 || na || 0.9 || 49 || 42 || 18.1 || 1.7 PT || -9.6 || -54.6 || 2.3 || 1.4 || 11.9 || -2.1 || 12.1 || 188 || 57 || 4.9 || 2.6 RO || -4.1 || -21.2 || 14.6 || 39.9 || 138.7 || na || 8.8 || 34 || 25 || 6.9 || 42.8 SI || -0.5 || 0.1 || 0.2 || 5.4 || 24.0 || na || 8.6 || 67 || 28 || 6.4 || 24.3 SK || -6.5 || -16.2 || 15.8 || 25.7 || 17.1 || na || 8.0 || 53 || 43 || 19.1 || 0.4 FI || 8.2 || -36.8 || -1.4 || -0.6 || 5.1 || 3.7 || 5.4 || 127 || 42 || 9.3 || 3.3 SE || 4.6 || -22.0 || -7.6 || -7.7 || 11.1 || 4.7 || -4.2 || 211 || 53 || 5.8 || -3.3 UK || -2.1 || -11.2 || -2.0 || -6.6 || 7.2 || 15.3 || 18.5 || 168 || 38 || 5.2 || -0.6 Table 3: The MIP scoreboard 2003 || External imbalances and competitiveness || Internal imbalances Year 2003 || 3 year average of Current Account Balance as % of GDP || Net Interna- tional Invest- ment Position as % of GDP || % Change (3 years) of Real Effective Exchange Rate with HICP deflators || % Change (5 years) in Export Market Shares || % Change (3 years) in Nominal ULC || % y-o-y change in deflated House Prices || Private Sector Credit Flow as % of GDP || Private Sector Debt as % of GDP || General Government Debt as % of GDP || Unemployment rate - 3 year average || % y-o-y Change in Total Financial Sector Liabilities, non-consolidated Thresholds || -4/+6% || -35% || ±5% & ±11% || -6% || +9% & +12% || +6% || 15% || 160% || 60% || 10% || 16.5% BE || 3.8 || 36.6 || 5.2 || na || 7.8 || 5.4 || 20.2 || 194 || 98 || 7.4 || 9.3 BG || -4.4 || -26.3 || 14.3 || 30.2 || 11.5 || na || 14.3 || 58 || 44 || 17.2 || 22.1 CZ || -5.5 || -19.6 || 14.9 || 23.1 || 14.8 || na || -3.5 || 56 || 29 || 7.7 || 5.8 DK || 3.0 || -12.1 || 8.1 || 10.8 || 10.3 || 1.9 || 5.4 || 178 || 47 || 4.8 || 9.0 DE || 1.3 || 6.6 || 5.0 || 2.4 || 2.0 || na || 0.3 || 136 || 64 || 8.8 || 3.5 EE || -9.0 || -65.9 || 9.3 || 19.4 || 13.4 || na || 21.4 || 98 || 6 || 11.0 || 13.4 IE || -0.5 || -20.0 || 17.5 || 26.6 || 11.7 || 11.7 || 9.5 || 154 || 31 || 4.3 || 25.4 EL || -6.8 || -58.9 || 9.0 || 51.0 || 11.4 || 2.0 || 10.7 || 72 || 97 || 10.2 || 8.6 ES || -3.6 || -45.2 || 8.8 || 5.8 || 9.3 || 14.0 || 17.1 || 148 || 49 || 11.1 || 15.5 FR || 1.1 || -4.2 || 6.5 || -13.1 || 7.6 || 9.6 || 3.8 || 124 || 63 || 8.5 || 6.4 IT || -0.3 || -13.6 || 8.8 || -13.4 || 10.7 || 7.4 || 7.0 || 93 || 104 || 8.6 || 11.6 CY || -3.1 || 4.3 || 8.1 || -0.7 || 17.1 || na || 6.8 || 170 || 70 || 4.0 || 8.9 LV || -7.5 || -43.8 || -7.1 || 10.1 || 2.1 || 21.6 || 14.3 || 62 || 15 || 12.4 || 23.6 LT || -5.5 || -33.1 || 6.7 || 37.3 || -0.8 || 19.9 || 7.8 || 36 || 21 || 14.5 || 31.6 LU || 9.1 || 140.3 || 4.5 || 17.2 || 10.4 || 8.8 || na || na || 6 || 2.8 || na HU || -7.0 || -78.1 || 20.1 || 43.0 || 27.4 || na || 18.3 || 85 || 59 || 5.6 || 19.8 MT || -1.5 || 39.6 || 5.9 || -3.4 || 16.5 || 12.4 || na || na || 68 || 7.6 || na NL || 3.6 || -1.7 || 10.9 || -2.3 || 12.8 || 1.3 || 10.2 || 203 || 52 || 3.3 || 9.4 AT || 1.2 || -14.3 || 3.1 || 2.6 || 2.6 || na || 6.8 || 129 || 65 || 4.0 || 6.6 PL || -2.8 || -41.7 || -4.6 || 21.7 || 0.7 || na || 2.4 || 48 || 47 || 19.3 || 17.1 PT || -8.3 || -57.5 || 9.6 || -2.6 || 11.3 || -1.7 || 9.2 || 193 || 59 || 5.8 || 9.6 RO || -4.9 || -27.1 || -1.6 || 58.8 || 75.2 || na || 8.0 || 36 || 22 || 6.9 || 28.0 SI || 0.1 || -5.9 || 5.3 || 3.4 || 20.6 || na || 8.7 || 71 || 27 || 6.4 || 12.6 SK || -7.4 || -24.5 || 17.8 || 41.2 || 11.3 || na || 3.9 || 49 || 42 || 18.7 || 6.8 FI || 7.2 || -26.4 || 7.7 || -6.4 || 5.3 || 7.0 || 8.9 || 134 || 45 || 9.1 || 13.3 SE || 5.5 || -20.0 || 0.3 || -8.1 || 5.9 || 4.9 || 0.4 || 207 || 52 || 6.1 || 10.4 UK || -1.8 || -10.3 || -7.6 || -11.2 || 6.5 || 13.8 || 17.7 || 173 || 39 || 5.0 || 13.8 Table 4: The MIP scoreboard 2004 || External imbalances and competitiveness || Internal imbalances Year 2004 || 3 year average of Current Account Balance as % of GDP || Net Interna- tional Invest- ment Position as % of GDP || % Change (3 years) of Real Effective Exchange Rate with HICP deflators || % Change (5 years) in Export Market Shares || % Change (3 years) in Nominal ULC || % y-o-y change in deflated House Prices || Private Sector Credit Flow as % of GDP || Private Sector Debt as % of GDP || General Government Debt as % of GDP || Unemployment rate - 3 year average || % y-o-y Change in Total Financial Sector Liabilities, non-consolidated Thresholds || -4/+6% || -35% || ±5% & ±11% || -6% || +9% & +12% || +6% || 15% || 160% || 60% || 10% || 16.5% BE || 3.7 || 28.4 || 5.3 || na || 2.7 || 6.1 || 3.9 || 188 || 94 || 8.0 || 15.3 BG || -4.7 || -30.1 || 10.9 || 51.5 || 5.2 || na || 19.5 || 74 || 37 || 14.7 || 36.6 CZ || -5.4 || -28.2 || 8.5 || 44.1 || 12.7 || na || 5.8 || 57 || 29 || 7.8 || 5.8 DK || 3.0 || -5.3 || 6.8 || -1.2 || 6.0 || 7.6 || 19.3 || 186 || 45 || 5.2 || 10.9 DE || 2.9 || 10.7 || 6.4 || 5.8 || 1.1 || na || -2.0 || 131 || 66 || 9.7 || 3.6 EE || -11.1 || -86.5 || 6.9 || 36.5 || 15.1 || na || 27.1 || 111 || 5 || 10.0 || 34.3 IE || -0.5 || -17.9 || 17.6 || 12.6 || 10.2 || 9.8 || 25.3 || 171 || 30 || 4.5 || 20.4 EL || -6.3 || -67.0 || 9.5 || 21.6 || 14.3 || -0.5 || 11.9 || 79 || 99 || 10.2 || 9.0 ES || -4.0 || -51.9 || 9.7 || 2.5 || 8.5 || 13.4 || 21.8 || 160 || 46 || 11.2 || 15.1 FR || 0.7 || -4.7 || 8.1 || -12.3 || 6.2 || 12.9 || 6.8 || 127 || 65 || 8.8 || 10.0 IT || -0.5 || -15.8 || 9.9 || -7.4 || 9.8 || 7.1 || 8.3 || 98 || 103 || 8.3 || 7.2 CY || -3.7 || 14.1 || 8.1 || -6.1 || 17.1 || na || 10.8 || 168 || 71 || 4.2 || 18.1 LV || -9.3 || -52.3 || -6.9 || 29.8 || 10.5 || -3.4 || 18.1 || 75 || 15 || 11.8 || 35.6 LT || -6.5 || -34.4 || 4.2 || 72.8 || 6.2 || 15.0 || 10.0 || 42 || 19 || 12.5 || 25.1 LU || 10.2 || 113.1 || 5.8 || 16.4 || 4.8 || 11.3 || na || na || 6 || 3.8 || na HU || -7.8 || -85.4 || 17.7 || 33.7 || 19.8 || na || 12.8 || 86 || 60 || 5.8 || 16.7 MT || -2.2 || 40.1 || 7.4 || -15.2 || 8.9 || 17.7 || na || 178 || 72 || 7.5 || na NL || 5.3 || 3.7 || 7.2 || -2.4 || 7.6 || 3.2 || 7.0 || 205 || 52 || 4.1 || 6.0 AT || 2.2 || -17.3 || 3.8 || 5.2 || 1.1 || na || 4.0 || 128 || 65 || 4.5 || 11.3 PL || -3.5 || -41.6 || -16.2 || 55.1 || -7.5 || na || 2.1 || 43 || 46 || 19.6 || 15.2 PT || -7.7 || -64.1 || 8.2 || -2.7 || 8.2 || -1.9 || 9.9 || 193 || 62 || 6.8 || 2.8 RO || -5.9 || -26.4 || -1.4 || 71.7 || 24.5 || na || 9.2 || 36 || 19 || 7.4 || 62.9 SI || -0.8 || -7.8 || 4.6 || 16.4 || 14.6 || 7.3 || 9.6 || 75 || 27 || 6.5 || 11.5 SK || -7.2 || -31.0 || 26.8 || 61.5 || 11.2 || na || 3.1 || 49 || 42 || 18.3 || 7.7 FI || 6.5 || -10.0 || 5.7 || -1.9 || 1.5 || 7.7 || 9.2 || 137 || 44 || 9.0 || 14.6 SE || 6.1 || -25.0 || 10.3 || -6.6 || -0.3 || 8.6 || 7.5 || 184 || 50 || 6.6 || 11.9 UK || -1.8 || -18.4 || -1.6 || -12.1 || 5.4 || 9.8 || 18.6 || 183 || 41 || 4.9 || 30.0 Table 5: The MIP scoreboard 2005 || External imbalances and competitiveness || Internal imbalances Year 2005 || 3 year average of Current Account Balance as % of GDP || Net Interna- tional Invest- ment Position as % of GDP || % Change (3 years) of Real Effective Exchange Rate with HICP deflators || % Change (5 years) in Export Market Shares || % Change (3 years) in Nominal ULC || % y-o-y change in deflated House Prices || Private Sector Credit Flow as % of GDP || Private Sector Debt as % of GDP || General Government Debt as % of GDP || Unemployment rate - 3 year average || % y-o-y Change in Total Financial Sector Liabilities, non-consolidated Thresholds || -4/+6% || -35% || ±5% & ±11% || -6% || +9% & +12% || +6% || 15% || 160% || 60% || 10% || 16.5% BE || 2.9 || 33.5 || 4.9 || na || 1.8 || 9.8 || 3.3 || 185 || 92 || 8.3 || 15.7 BG || -7.8 || -44.1 || 8.9 || 41.0 || 9.5 || 27.9 || 21.9 || 91 || 28 || 12.0 || 34.3 CZ || -4.0 || -26.9 || 3.5 || 42.1 || 5.3 || 0.0 || 3.3 || 57 || 28 || 8.0 || 11.3 DK || 3.6 || 3.9 || 4.2 || 3.8 || 4.9 || 15.8 || 24.9 || 202 || 38 || 5.2 || 21.1 DE || 3.9 || 21.0 || 4.8 || 11.3 || -0.5 || na || -0.9 || 128 || 69 || 10.5 || 5.6 EE || -10.9 || -85.2 || 6.9 || 41.7 || 15.1 || 27.6 || 26.8 || 122 || 5 || 9.2 || 23.4 IE || -1.4 || -24.5 || 12.0 || 5.9 || 13.7 || 9.9 || 24.8 || 193 || 27 || 4.5 || 35.3 EL || -6.7 || -77.3 || 6.8 || 6.3 || 8.3 || 12.0 || 15.0 || 90 || 101 || 10.0 || 16.8 ES || -5.4 || -55.6 || 7.9 || 5.5 || 8.8 || 10.0 || 27.8 || 177 || 43 || 10.5 || 24.6 FR || 0.2 || 1.1 || 6.0 || -9.5 || 4.9 || 13.2 || 9.0 || 132 || 67 || 9.2 || 15.1 IT || -0.7 || -16.8 || 6.9 || -5.2 || 8.7 || 5.2 || 9.4 || 104 || 106 || 8.1 || 12.1 CY || -4.4 || 20.3 || 6.7 || -2.3 || 13.6 || na || 46.7 || 204 || 69 || 4.8 || 37.8 LV || -11.2 || -59.6 || -4.4 || 43.5 || 29.2 || 23.1 || 26.4 || 95 || 13 || 10.7 || 41.0 LT || -7.1 || -42.6 || 1.0 || 77.7 || 10.6 || 48.7 || 15.5 || 53 || 18 || 10.7 || 48.9 LU || 10.5 || 127.8 || 6.6 || 17.4 || 4.8 || 8.1 || na || na || 6 || 4.5 || na HU || -7.8 || -94.4 || 9.2 || 30.9 || 13.3 || na || 17.4 || 102 || 62 || 6.3 || 21.1 MT || -5.9 || 36.9 || 5.6 || -21.6 || 7.5 || 6.9 || 11.9 || 181 || 70 || 7.4 || 27.9 NL || 6.9 || -2.6 || 3.3 || 1.7 || 2.3 || 1.8 || 14.6 || 211 || 52 || 4.8 || 14.8 AT || 2.0 || -21.7 || 2.7 || 12.7 || 2.2 || na || 7.7 || 132 || 64 || 4.8 || 16.5 PL || -3.4 || -42.5 || -1.5 || 48.2 || -5.1 || na || 4.5 || 44 || 47 || 18.8 || 19.4 PT || -8.4 || -66.9 || 5.3 || -3.7 || 8.6 || -0.5 || 13.7 || 200 || 68 || 7.7 || 9.8 RO || -7.6 || -29.5 || 16.3 || 64.6 || 52.3 || na || 12.0 || 42 || 16 || 7.3 || 46.7 SI || -1.7 || -11.0 || 1.7 || 27.0 || 9.7 || 13.1 || 13.6 || 85 || 27 || 6.5 || 17.7 SK || -7.4 || -38.7 || 27.3 || 57.0 || 11.0 || na || 7.9 || 51 || 34 || 17.5 || 19.1 FI || 4.8 || -15.3 || 2.5 || -6.1 || 2.9 || 7.2 || 8.2 || 142 || 42 || 8.7 || 13.6 SE || 6.8 || -20.7 || 3.9 || -5.0 || -0.5 || 7.8 || 14.9 || 192 || 50 || 7.2 || 14.9 UK || -2.1 || -20.0 || -2.9 || -10.7 || 5.9 || 2.9 || 18.0 || 194 || 42 || 4.8 || 19.1 Table 6: The MIP scoreboard 2006 || External imbalances and competitiveness || Internal imbalances Year 2006 || 3 year average of Current Account Balance as % of GDP || Net Interna- tional Invest- ment Position as % of GDP || % Change (3 years) of Real Effective Exchange Rate with HICP deflators || % Change (5 years) in Export Market Shares || % Change (3 years) in Nominal ULC || % y-o-y change in deflated House Prices || Private Sector Credit Flow as % of GDP || Private Sector Debt as % of GDP || General Government Debt as % of GDP || Unemployment rate - 3 year average || % y-o-y Change in Total Financial Sector Liabilities, non-consolidated Thresholds || -4/+6% || -35% || ±5% & ±11% || -6% || +9% & +12% || +6% || 15% || 160% || 60% || 10% || 16.5% BE || 2.3 || 29.4 || 1.5 || na || 2.8 || 5.6 || 17.8 || 193 || 88 || 8.4 || 11.0 BG || -11.9 || -58.0 || 11.3 || 42.4 || 11.1 || 12.2 || 20.5 || 100 || 22 || 10.4 || 51.9 CZ || -2.7 || -32.3 || 11.5 || 26.6 || 2.6 || 5.3 || 7.2 || 61 || 28 || 7.8 || 3.6 DK || 3.4 || -0.2 || -0.5 || -3.0 || 4.9 || 21.8 || 24.6 || 215 || 32 || 4.7 || 10.1 DE || 5.3 || 27.9 || 0.1 || 3.6 || -3.4 || -1.4 || 0.9 || 124 || 68 || 10.7 || 4.8 EE || -12.2 || -73.9 || 6.5 || 37.8 || 19.6 || 42.1 || 40.3 || 150 || 4 || 7.8 || 15.1 IE || -2.5 || -5.3 || 3.4 || -12.5 || 12.9 || 12.2 || 34.5 || 217 || 25 || 4.4 || 20.4 EL || -8.3 || -85.4 || 2.5 || -4.8 || 5.5 || 9.3 || 16.9 || 98 || 108 || 9.8 || 14.2 ES || -7.2 || -65.8 || 4.3 || -3.2 || 9.2 || 11.8 || 37.0 || 200 || 40 || 9.5 || 19.0 FR || -0.2 || 1.1 || 0.8 || -16.0 || 4.7 || 9.7 || 10.7 || 137 || 64 || 9.3 || 15.0 IT || -0.9 || -22.2 || 1.1 || -12.5 || 6.5 || 3.2 || 10.9 || 110 || 106 || 7.5 || 10.5 CY || -6.0 || 38.3 || 1.3 || -17.9 || 4.6 || 8.8 || 10.4 || 200 || 65 || 5.0 || 29.6 LV || -16.0 || -69.9 || 4.8 || 32.0 || 42.9 || 9.2 || 43.0 || 122 || 11 || 9.3 || 47.8 LT || -8.4 || -48.9 || 0.9 || 50.4 || 20.7 || 34.8 || 19.0 || 65 || 18 || 8.4 || 32.5 LU || 11.3 || 131.6 || 4.0 || 19.6 || 4.8 || 3.7 || 14.1 || 161 || 7 || 4.7 || na HU || -7.6 || -102.8 || 3.0 || 16.9 || 9.3 || 1.6 || 18.0 || 111 || 66 || 6.9 || 18.0 MT || -8.2 || 28.0 || 4.0 || -9.5 || 5.2 || 18.6 || 17.1 || 194 || 64 || 7.1 || 14.3 NL || 8.1 || 3.2 || -1.1 || -4.4 || 0.4 || 2.0 || 12.7 || 213 || 47 || 4.9 || 12.1 AT || 2.4 || -20.5 || -0.4 || 1.3 || 1.8 || 1.9 || 7.2 || 144 || 62 || 5.0 || 10.0 PL || -3.8 || -45.7 || 13.7 || 37.5 || -2.9 || 35.0 || 10.0 || 52 || 48 || 16.9 || 24.3 PT || -9.8 || -78.8 || 1.4 || -5.4 || 5.5 || -1.0 || 16.5 || 209 || 69 || 8.2 || 11.3 RO || -9.1 || -36.2 || 29.4 || 51.2 || 32.1 || 46.0 || 22.7 || 68 || 12 || 7.5 || 35.3 SI || -2.3 || -17.1 || -0.7 || 17.6 || 6.2 || 14.2 || 13.9 || 91 || 26 || 6.3 || 13.8 SK || -8.1 || -46.8 || 19.5 || 59.4 || 8.5 || 11.5 || 9.4 || 55 || 31 || 16.1 || -7.5 FI || 4.6 || -13.8 || -2.5 || -7.0 || 2.5 || 5.5 || 13.2 || 147 || 40 || 8.3 || 12.2 SE || 7.3 || -13.0 || -2.5 || -1.3 || -1.2 || 11.3 || 10.7 || 193 || 45 || 7.4 || 12.0 UK || -2.7 || -28.9 || 3.1 || -11.0 || 7.0 || 3.5 || 21.0 || 206 || 43 || 5.0 || 11.4 Table 7: The MIP scoreboard 2007 || External imbalances and competitiveness || Internal imbalances Year 2007 || 3 year average of Current Account Balance as % of GDP || Net Interna- tional Invest- ment Position as % of GDP || % Change (3 years) of Real Effective Exchange Rate with HICP deflators || % Change (5 years) in Export Market Shares || % Change (3 years) in Nominal ULC || % y-o-y change in deflated House Prices || Private Sector Credit Flow as % of GDP || Private Sector Debt as % of GDP || General Government Debt as % of GDP || Unemployment rate - 3 year average || % y-o-y Change in Total Financial Sector Liabilities, non-consolidated Thresholds || -4/+6% || -35% || ±5% & ±11% || -6% || +9% & +12% || +6% || 15% || 160% || 60% || 10% || 16.5% BE || 1.9 || 28.9 || 1.5 || -10.3 || 5.7 || 4.4 || 20.9 || 203 || 84 || 8.1 || 12.1 BG || -18.1 || -81.1 || 12.1 || 43.4 || 19.0 || 18.3 || 39.9 || 132 || 17 || 8.6 || 29.3 CZ || -2.4 || -38.7 || 14.0 || 25.8 || 2.3 || 15.8 || 8.7 || 66 || 28 || 6.8 || 15.5 DK || 2.9 || -5.8 || 0.1 || -8.7 || 9.4 || 1.4 || 18.7 || 224 || 27 || 4.2 || 10.5 DE || 6.3 || 26.5 || 0.6 || 2.0 || -3.7 || -3.6 || 3.6 || 122 || 65 || 10.1 || 5.9 EE || -13.8 || -72.0 || 9.5 || 39.3 || 32.9 || 11.8 || 32.2 || 159 || 4 || 6.1 || 27.8 IE || -4.1 || -19.6 || 4.1 || -15.7 || 12.8 || 4.1 || 25.0 || 224 || 25 || 4.5 || 10.3 EL || -11.2 || -96.1 || 1.9 || 3.8 || 5.9 || 1.9 || 17.0 || 108 || 107 || 9.0 || 22.1 ES || -8.8 || -78.1 || 4.2 || -3.2 || 11.0 || 6.4 || 27.0 || 215 || 36 || 8.6 || 16.9 FR || -0.7 || -1.5 || 0.2 || -18.0 || 5.4 || 4.4 || 12.6 || 143 || 64 || 9.0 || 13.1 IT || -1.2 || -24.5 || 0.7 || -9.3 || 6.1 || 2.6 || 13.1 || 118 || 103 || 6.9 || 0.5 CY || -8.2 || 11.7 || 0.2 || -11.2 || 3.8 || 8.2 || 38.8 || 221 || 59 || 4.7 || 22.8 LV || -19.2 || -74.7 || 11.1 || 45.7 || 71.4 || 24.0 || 36.6 || 128 || 9 || 7.8 || 36.7 LT || -10.7 || -55.8 || 4.5 || 30.7 || 24.5 || 25.7 || 27.2 || 82 || 17 || 6.1 || 34.3 LU || 10.7 || 95.5 || 3.3 || 28.2 || 5.2 || 2.4 || 33.4 || 205 || 7 || 4.5 || 15.1 HU || -7.3 || -105.1 || 8.0 || 20.8 || 11.3 || -2.0 || 22.0 || 126 || 67 || 7.3 || 13.4 MT || -8.3 || 18.1 || 3.2 || -12.1 || 3.7 || 18.7 || 4.6 || 192 || 62 || 6.9 || 22.3 NL || 7.8 || -6.0 || -1.0 || -2.7 || 1.8 || 3.1 || 9.2 || 211 || 45 || 4.4 || 16.3 AT || 2.8 || -18.2 || -0.3 || 0.7 || 3.5 || 1.6 || 15.5 || 152 || 60 || 4.8 || 9.4 PL || -4.1 || -50.1 || 18.7 || 42.2 || 1.9 || 45.2 || 12.0 || 59 || 45 || 13.8 || 18.9 PT || -10.4 || -87.9 || 1.5 || -5.5 || 5.7 || -1.6 || 24.6 || 223 || 68 || 8.7 || 9.9 RO || -10.8 || -47.1 || 37.6 || 42.8 || 47.5 || 44.5 || 34.3 || 107 || 13 || 6.9 || 35.2 SI || -3.0 || -21.8 || 1.0 || 18.7 || 5.2 || 17.4 || 23.5 || 106 || 23 || 5.8 || 28.5 SK || -7.2 || -46.2 || 19.4 || 74.4 || 6.2 || 25.7 || 10.3 || 64 || 30 || 13.7 || 24.8 FI || 3.9 || -27.9 || -1.4 || -5.1 || 3.1 || 3.6 || 15.1 || 151 || 35 || 7.6 || 10.5 SE || 8.1 || -1.5 || -2.6 || 0.0 || 3.9 || 11.2 || 23.3 || 210 || 40 || 7.0 || 8.1 UK || -2.8 || -22.9 || 1.2 || -18.6 || 7.2 || 8.2 || 19.6 || 206 || 44 || 5.2 || 16.7 Table 8: The MIP scoreboard 2008 || External imbalances and competitiveness || Internal imbalances Year 2008 || 3 year average of Current Account Balance as % of GDP || Net Interna- tional Invest- ment Position as % of GDP || % Change (3 years) of Real Effective Exchange Rate with HICP deflators || % Change (5 years) in Export Market Shares || % Change (3 years) in Nominal ULC || % y-o-y change in deflated House Prices || Private Sector Credit Flow as % of GDP || Private Sector Debt as % of GDP || General Government Debt as % of GDP || Unemployment rate - 3 year average || % y-o-y Change in Total Financial Sector Liabilities, non-consolidated Thresholds || -4/+6% || -35% || ±5% & ±11% || -6% || +9% & +12% || +6% || 15% || 160% || 60% || 10% || 16.5% BE || 0.8 || 39.7 || 4.4 || -14.0 || 8.8 || 0.8 || 22.2 || 217 || 89 || 7.6 || -6.9 BG || -22.0 || -98.4 || 20.3 || 33.1 || 26.7 || 16.7 || 41.1 || 155 || 14 || 7.1 || -3.5 CZ || -2.8 || -40.1 || 24.4 || 22.0 || 6.5 || 7.4 || 8.6 || 73 || 29 || 5.6 || 6.6 DK || 2.4 || -5.1 || 3.2 || -8.2 || 13.6 || -7.7 || 18.1 || 237 || 33 || 3.7 || 6.4 DE || 6.6 || 25.4 || 2.4 || -5.3 || -0.6 || -0.3 || 3.0 || 124 || 67 || 8.8 || 1.9 EE || -13.5 || -76.7 || 15.1 || 22.7 || 46.7 || -16.2 || 13.0 || 164 || 5 || 5.3 || 8.0 IE || -4.9 || -76.2 || 8.0 || -21.2 || 14.8 || -8.4 || 36.4 || 279 || 45 || 5.1 || 6.5 EL || -13.6 || -76.8 || 4.0 || 1.1 || 6.6 || 0.3 || 16.5 || 119 || 113 || 8.3 || 4.6 ES || -9.5 || -79.3 || 6.2 || -13.6 || 13.4 || -4.9 || 12.3 || 221 || 40 || 9.4 || 4.7 FR || -1.1 || -12.9 || 2.7 || -21.5 || 6.8 || -2.0 || 9.1 || 150 || 68 || 8.5 || 2.5 IT || -1.9 || -24.1 || 3.2 || -16.3 || 8.3 || -0.4 || 6.7 || 122 || 106 || 6.5 || -2.7 CY || -11.5 || -15.1 || 3.1 || -14.9 || 4.0 || 1.2 || 38.3 || 242 || 49 || 4.2 || 15.0 LV || -19.4 || -79.0 || 24.0 || 41.1 || 79.4 || -13.0 || 14.3 || 132 || 20 || 7.3 || 7.8 LT || -12.7 || -51.6 || 12.3 || 39.9 || 29.6 || -1.4 || 9.4 || 82 || 16 || 5.3 || 3.7 LU || 8.6 || 100.1 || 4.0 || 15.6 || 12.5 || -0.5 || -37.6 || 221 || 14 || 4.6 || -11.8 HU || -7.3 || -106.0 || 9.3 || 13.9 || 13.1 || -4.0 || 29.2 || 156 || 73 || 7.5 || 14.6 MT || -7.0 || 2.7 || 7.0 || -10.8 || 8.1 || 7.5 || 18.1 || 201 || 62 || 6.5 || 10.0 NL || 6.8 || 4.2 || 0.7 || -9.4 || 5.4 || 1.0 || 7.5 || 211 || 59 || 3.7 || -0.6 AT || 3.7 || -16.9 || 1.0 || -5.6 || 6.1 || -1.0 || 6.6 || 157 || 64 || 4.3 || 11.8 PL || -5.5 || -56.3 || 16.1 || 39.2 || 9.2 || -4.8 || 12.1 || 72 || 47 || 10.2 || 7.1 PT || -11.1 || -96.2 || 2.7 || -13.3 || 5.6 || 1.4 || 21.8 || 240 || 72 || 8.7 || 5.4 RO || -11.8 || -53.4 || 10.6 || 41.6 || 48.6 || -19.0 || 27.9 || 115 || 13 || 6.5 || 11.7 SI || -4.5 || -35.7 || 4.2 || 11.1 || 10.3 || 1.5 || 18.3 || 117 || 22 || 5.1 || 6.6 SK || -6.4 || -57.4 || 26.0 || 52.1 || 6.7 || 12.8 || 12.4 || 69 || 28 || 11.4 || 8.9 FI || 3.7 || -9.7 || 2.4 || -5.6 || 7.7 || -2.5 || 20.5 || 169 || 34 || 7.0 || 16.4 SE || 8.9 || -10.5 || -0.9 || -8.6 || 6.9 || -1.8 || 20.3 || 237 || 39 || 6.5 || 10.8 UK || -2.4 || -7.0 || -10.4 || -24.2 || 8.5 || -4.2 || 11.9 || 221 || 52 || 5.4 || 47.5 Table 9: The MIP scoreboard 2009 || External imbalances and competitiveness || Internal imbalances Year 2009 || 3 year average of Current Account Balance as % of GDP || Net Interna- tional Invest- ment Position as % of GDP || % Change (3 years) of Real Effective Exchange Rate with HICP deflators || % Change (5 years) in Export Market Shares || % Change (3 years) in Nominal ULC || % y-o-y change in deflated House Prices || Private Sector Credit Flow as % of GDP || Private Sector Debt as % of GDP || General Government Debt as % of GDP || Unemployment rate - 3 year average || % y-o-y Change in Total Financial Sector Liabilities, non-consolidated Thresholds || -4/+6% || -35% || ±5% & ±11% || -6% || +9% & +12% || +6% || 15% || 160% || 60% || 10% || 16.5% BE || -0.3 || 54.2 || 4.2 || -10.7 || 10.8 || 0.6 || 8.5 || 229 || 96 || 7.5 || -5.0 BG || -19.1 || -101.8 || 18.6 || 18.3 || 38.5 || -21.6 || 19.1 || 175 || 15 || 6.5 || 0.9 CZ || -2.9 || -46.0 || 13.7 || 10.1 || 8.4 || -4.5 || 1.0 || 76 || 34 || 5.5 || 2.1 DK || 2.5 || 4.4 || 5.7 || -5.1 || 17.7 || -13.3 || -2.1 || 251 || 41 || 4.4 || 0.7 DE || 6.5 || 33.8 || 3.2 || -4.6 || 7.2 || 0.8 || 1.8 || 131 || 75 || 8.0 || -1.1 EE || -7.2 || -81.9 || 13.7 || 9.8 || 36.2 || -36.4 || 2.6 || 175 || 7 || 8.0 || -10.8 IE || -4.5 || -93.0 || 5.3 || -5.3 || 6.7 || -12.9 || 2.4 || 311 || 65 || 7.6 || 2.8 EL || -13.6 || -89.6 || 5.1 || -13.9 || 14.5 || 0.4 || 3.8 || 123 || 130 || 8.5 || 10.2 ES || -8.1 || -93.7 || 5.0 || -7.1 || 11.4 || -5.7 || -3.0 || 227 || 54 || 12.6 || 3.8 FR || -1.4 || -9.4 || 2.9 || -10.0 || 8.8 || -6.5 || -1.8 || 157 || 79 || 8.6 || 0.2 IT || -2.0 || -25.3 || 3.9 || -17.9 || 10.5 || -0.3 || 1.3 || 128 || 116 || 6.9 || 5.7 CY || -12.7 || -30.4 || 3.7 || -9.0 || 7.0 || -7.2 || 15.5 || 262 || 59 || 4.4 || 18.8 LV || -9.0 || -82.7 || 23.7 || 31.7 || 42.0 || -39.3 || -6.1 || 147 || 37 || 10.9 || -8.1 LT || -7.9 || -57.3 || 16.9 || 22.4 || 15.9 || -32.9 || -11.5 || 88 || 29 || 8.0 || -3.7 LU || 7.5 || 85.7 || 4.1 || 10.6 || 19.3 || -2.8 || 176.3 || 373 || 15 || 4.7 || 6.1 HU || -4.9 || -117.2 || 8.0 || 6.6 || 14.0 || -9.8 || 5.4 || 171 || 80 || 8.4 || 8.2 MT || -6.3 || 13.6 || 5.9 || 11.2 || 10.1 || -6.7 || 11.3 || 213 || 68 || 6.5 || -0.4 NL || 5.4 || 16.7 || 2.8 || -6.3 || 10.2 || -3.8 || 6.3 || 226 || 61 || 3.5 || 6.1 AT || 3.7 || -8.0 || 2.1 || -8.4 || 10.2 || 0.9 || -3.5 || 158 || 69 || 4.3 || -1.7 PL || -5.5 || -58.8 || -3.8 || 27.9 || 12.8 || -5.2 || 3.9 || 72 || 51 || 8.3 || 9.6 PT || -11.2 || -110.4 || 1.3 || -9.3 || 8.0 || 2.8 || 7.5 || 252 || 83 || 9.3 || 9.5 RO || -9.7 || -62.2 || -4.9 || 32.7 || 45.7 || -26.3 || 7.9 || 123 || 24 || 6.4 || 14.4 SI || -3.9 || -39.6 || 5.7 || 6.0 || 18.4 || -10.4 || 4.1 || 127 || 35 || 5.0 || 7.4 SK || -4.7 || -66.7 || 27.1 || 39.8 || 10.9 || -12.8 || 2.8 || 74 || 36 || 11.0 || -5.0 FI || 2.9 || 0.0 || 5.3 || -14.9 || 16.9 || 0.0 || -1.3 || 179 || 44 || 7.2 || 6.5 SE || 8.3 || -9.3 || -8.3 || -15.1 || 12.1 || 0.6 || 4.8 || 249 || 43 || 6.9 || 6.1 UK || -1.8 || -21.0 || -19.9 || -21.1 || 11.1 || -9.1 || -12.1 || 220 || 68 || 6.2 || -17.3 Table 10: The MIP scoreboard 2010 || External imbalances and competitiveness || Internal imbalances Year 2010 || 3 year average of Current Account Balance as % of GDP || Net Interna- tional Invest- ment Position as % of GDP || % Change (3 years) of Real Effective Exchange Rate with HICP deflators || % Change (5 years) in Export Market Shares || % Change (3 years) in Nominal ULC || % y-o-y change in deflated House Prices || Private Sector Credit Flow as % of GDP || Private Sector Debt as % of GDP || General Government Debt as % of GDP || Unemployment rate - 3 year average || % y-o-y Change in Total Financial Sector Liabilities, non-consolidated Thresholds || -4/+6% || -35% || ±5% & ±11% || -6% || +9% & +12% || +6% || 15% || 160% || 60% || 10% || 16.5% BE || -0.3 || 64.4 || 1.4 || -14.1 || 8.0 || 0.2 || 13.7 || 232 || 96 || 7.7 || -2.0 BG || -11.2 || -95.4 || 10.9 || 14.9 || 33.9 || -12.3 || 0.1 || 170 || 16 || 7.5 || -2.4 CZ || -2.8 || -48.2 || 12.8 || 10.2 || 5.7 || -2.0 || 2.1 || 77 || 38 || 6.1 || 2.8 DK || 4.1 || 10.1 || 0.9 || -15.0 || 11.0 || 0.1 || 5.6 || 244 || 43 || 5.6 || 8.0 DE || 6.1 || 34.9 || -2.9 || -7.2 || 6.8 || -1.0 || 3.1 || 127 || 83 || 7.5 || 0.1 EE || -0.9 || -72.8 || 6.2 || -0.8 || 9.1 || 3.0 || -4.4 || 149 || 7 || 12.0 || -10.1 IE || -2.3 || -88.9 || -4.9 || -12.7 || -4.1 || -10.5 || 0.3 || 315 || 92 || 10.6 || 6.2 EL || -12.1 || -98.4 || 4.1 || -20.0 || 11.5 || -6.5 || 0.7 || 125 || 148 || 9.9 || 8.5 ES || -6.3 || -88.9 || 0.8 || -10.6 || 4.9 || -3.9 || 1.4 || 227 || 62 || 16.5 || -2.2 FR || -1.5 || -7.8 || -1.2 || -13.4 || 7.7 || 4.0 || 1.8 || 159 || 82 || 9.0 || 3.0 IT || -2.8 || -24.0 || -0.9 || -19.2 || 8.1 || -1.5 || 3.8 || 129 || 119 || 7.6 || 1.7 CY || -12.1 || -35.6 || 1.7 || -19.4 || 7.2 || -7.7 || 23.7 || 278 || 61 || 5.2 || -6.0 LV || -0.5 || -80.3 || 8.7 || 13.9 || -0.3 || -9.3 || -8.7 || 140 || 45 || 15.3 || -0.1 LT || -3.0 || -55.4 || 9.4 || 13.7 || 1.2 || -8.7 || -5.6 || 80 || 38 || 12.5 || 0.0 LU || 6.9 || 96.6 || 2.0 || -0.6 || 19.2 || 2.5 || 7.3 || 345 || 19 || 4.9 || 12.4 HU || -2.2 || -112.8 || -0.3 || 1.4 || 6.4 || -6.4 || -21.6 || 154 || 82 || 9.7 || 3.2 MT || -5.8 || 7.4 || 0.7 || 19.4 || 8.2 || -2.0 || 6.8 || 209 || 68 || 6.6 || 18.5 NL || 5.7 || 22.6 || -0.9 || -8.2 || 7.6 || -2.8 || 3.3 || 225 || 63 || 3.8 || 6.8 AT || 3.7 || -8.1 || -1.3 || -14.8 || 8.9 || -1.3 || 6.8 || 164 || 72 || 4.3 || -1.7 PL || -5.2 || -65.4 || -0.5 || 20.1 || 11.3 || -6.2 || 3.6 || 74 || 55 || 8.3 || 13.3 PT || -11.2 || -107.3 || -2.2 || -8.6 || 5.1 || 0.2 || 4.5 || 250 || 94 || 10.4 || 10.0 RO || -6.7 || -63.8 || -10.0 || 21.2 || 36.5 || -14.5 || 1.7 || 76 || 31 || 6.6 || 4.4 SI || -2.5 || -42.8 || 2.4 || -4.5 || 15.9 || -1.3 || 1.8 || 128 || 39 || 5.9 || -3.4 SK || -4.2 || -63.2 || 11.8 || 31.3 || 9.4 || -4.9 || 3.3 || 73 || 41 || 12.1 || 2.2 FI || 2.0 || 11.8 || 0.2 || -19.9 || 14.4 || 4.1 || 6.9 || 183 || 49 || 7.7 || 18.9 SE || 7.5 || -7.4 || -2.6 || -11.9 || 5.1 || 6.7 || 2.8 || 233 || 40 || 7.6 || 2.1 UK || -2.1 || -23.8 || -19.7 || -23.1 || 10.0 || 3.5 || 1.9 || 209 || 79 || 7.0 || 7.9 Table 11: The MIP scoreboard 2011 || External imbalances and competitiveness || Internal imbalances Year 2011 || 3 year average of Current Account Balance as % of GDP || Net Interna- tional Invest- ment Position as % of GDP || % Change (3 years) of Real Effective Exchange Rate with HICP deflators || % Change (5 years) in Export Market Shares || % Change (3 years) in Nominal ULC || % y-o-y change in deflated House Prices || Private Sector Credit Flow as % of GDP || Private Sector Debt as % of GDP || General Government Debt as % of GDP || Unemployment rate - 3 year average || % y-o-y Change in Total Financial Sector Liabilities, non-consolidated Thresholds || -4/+6% || -35% || ±5% & ±11% || -6% || +9% & +12% || +6% || 15% || 160% || 60% || 10% || 16.5% BE || -0.3 || 65.7 || -0.5 || -10.2 || 6.2 || -0.1 || 11.6 || 236 || 98 || 7.8 || 4.7 BG || -3.4 || -85.6 || 3.1 || 17.2 || 20.3 || -9.0 || -6.7 || 146 || 16 || 9.4 || 5.6 CZ || -3.0 || -49.3 || 0.3 || 8.4 || 3.3 || 0.0 || 2.5 || 78 || 41 || 6.9 || 3.8 DK || 5.0 || 24.5 || -1.7 || -16.9 || 4.7 || -4.9 || -2.2 || 238 || 47 || 7.0 || 4.7 DE || 5.9 || 32.6 || -3.9 || -8.4 || 5.9 || 1.4 || 4.8 || 128 || 81 || 6.9 || 2.1 EE || 2.8 || -57.8 || 0.8 || 11.1 || -6.2 || 3.3 || 6.8 || 133 || 6 || 14.4 || -4.4 IE || 0.0 || -96.0 || -9.1 || -12.2 || -12.8 || -15.2 || 4.0 || 310 || 106 || 13.3 || -0.6 EL || -10.4 || -86.1 || 3.1 || -18.7 || 4.1 || -5.1 || -5.5 || 125 || 171 || 13.2 || -3.4 ES || -4.3 || -91.7 || -1.3 || -7.6 || -2.1 || -10.0 || -4.1 || 218 || 69 || 19.9 || 3.7 FR || -1.6 || -15.9 || -3.2 || -11.2 || 6.0 || 3.8 || 4.0 || 160 || 86 || 9.6 || 7.3 IT || -2.9 || -20.6 || -2.1 || -18.4 || 4.4 || -2.0 || 2.6 || 129 || 121 || 8.2 || 3.8 CY || -8.4 || -71.3 || -0.9 || -16.4 || 8.8 || -8.5 || 16.1 || 288 || 71 || 6.6 || -0.2 LV || 3.1 || -73.3 || -0.6 || 23.6 || -15.0 || 4.9 || -2.5 || 125 || 42 || 18.1 || -4.5 LT || 0.0 || -52.6 || 3.6 || 25.2 || -8.4 || 2.4 || -0.8 || 70 || 39 || 15.6 || 8.9 LU || 7.5 || 107.8 || 0.8 || -10.1 || 12.5 || 1.5 || 2.5 || 326 || 18 || 4.8 || 11.3 HU || 0.6 || -105.9 || -3.3 || -2.8 || 3.7 || -4.1 || 6.4 || 167 || 81 || 10.7 || -2.6 MT || -4.3 || 5.7 || -3.0 || 11.7 || 5.8 || -2.3 || 2.2 || 210 || 71 || 6.8 || 1.4 NL || 7.5 || 35.5 || -1.6 || -8.2 || 5.8 || -4.0 || 0.7 || 225 || 66 || 4.2 || 7.2 AT || 2.2 || -2.3 || -1.0 || -12.7 || 5.9 || -8.0 || 4.1 || 161 || 72 || 4.4 || -0.3 PL || -4.6 || -63.5 || -10.9 || 12.8 || 4.3 || -5.7 || 7.1 || 80 || 56 || 9.2 || 4.4 PT || -9.1 || -105.0 || -1.9 || -9.5 || 0.9 || -3.6 || -3.2 || 249 || 108 || 11.9 || -0.7 RO || -4.3 || -62.5 || -2.4 || 22.8 || 12.9 || -18.9 || 1.8 || 72 || 33 || 7.2 || 4.3 SI || -0.4 || -41.2 || -0.3 || -6.1 || 8.3 || 1.0 || 1.9 || 128 || 47 || 7.1 || -1.3 SK || -2.1 || -64.4 || 4.3 || 20.9 || 4.4 || -5.6 || 3.3 || 76 || 43 || 13.4 || 1.2 FI || 0.6 || 13.1 || -1.3 || -22.9 || 9.1 || -0.3 || 4.6 || 179 || 49 || 8.1 || 30.8 SE || 6.6 || -8.3 || 3.9 || -11.6 || 1.2 || 1.0 || 6.3 || 232 || 38 || 8.1 || 3.6 UK || -2.2 || -17.3 || -7.1 || -24.2 || 8.1 || -5.4 || 1.0 || 205 || 85 || 7.8 || 8.5 . Table 12: The MIP scoreboard for Belgium || Belgium || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || 4.2 || 4.0 || 3.8 || 3.7 || 2.9 || 2.3 || 1.9 || 0.8 || -0.3 || -0.3 || -0.3 Net International Investment Position as % of GDP || -35% || na || 36.6 || 36.6 || 28.4 || 33.5 || 29.4 || 28.9 || 39.7 || 54.2 || 64.4 || 65.7 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -3.9 || -1.9 || 5.2 || 5.3 || 4.9 || 1.5 || 1.5 || 4.4 || 4.2 || 1.4 || -0.5 % Change (5 years) in Export Market Shares || -6% || na || na || na || na || na || na || -10.3 || -14.0 || -10.7 || -14.1 || -10.2 % Change (3 years) in Nominal ULC || +9% & +12% || 6.2 || 7.1 || 7.8 || 2.7 || 1.8 || 2.8 || 5.7 || 8.8 || 10.8 || 8.0 || 6.2 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 2.9 || 5.2 || 5.4 || 6.1 || 9.8 || 5.6 || 4.4 || 0.8 || 0.6 || 0.2 || -0.1 Private Sector Credit Flow as % of GDP || 15% || 15.7 || 8.9 || 20.2 || 3.9 || 3.3 || 17.8 || 20.9 || 22.2 || 8.5 || 13.7 || 11.6 Private Sector Debt as % of GDP || 160% || 180 || 180 || 194 || 188 || 185 || 193 || 203 || 217 || 229 || 232 || 236 General Government Debt as % of GDP || 60% || 107 || 103 || 98 || 94 || 92 || 88 || 84 || 89 || 96 || 96 || 98 Unemployment rate - 3 year average || 10% || 7.3 || 7.0 || 7.4 || 8.0 || 8.3 || 8.4 || 8.1 || 7.6 || 7.5 || 7.7 || 7.8 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 4.1 || -3.9 || 9.3 || 15.3 || 15.7 || 11.0 || 12.1 || -6.9 || -5.0 || -2.0 || 4.7 Table 13: The MIP scoreboard for Bulgaria || Bulgaria || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -5.2 || -4.4 || -4.4 || -4.7 || -7.8 || -11.9 || -18.1 || -22.0 || -19.1 || -11.2 || -3.4 Net International Investment Position as % of GDP || -35% || -27.1 || -25.3 || -26.3 || -30.1 || -44.1 || -58.0 || -81.1 || -98.4 || -101.8 || -95.4 || -85.6 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || 11.5 || 15.4 || 14.3 || 10.9 || 8.9 || 11.3 || 12.1 || 20.3 || 18.6 || 10.9 || 3.1 % Change (5 years) in Export Market Shares || -6% || 0.4 || 11.7 || 30.2 || 51.5 || 41.0 || 42.4 || 43.4 || 33.1 || 18.3 || 14.9 || 17.2 % Change (3 years) in Nominal ULC || +9% & +12% || 9.5 || 11.3 || 11.5 || 5.2 || 9.5 || 11.1 || 19.0 || 26.7 || 38.5 || 33.9 || 20.3 Internal imbalances || % y-o-y change in deflated House Prices || +6% || na || na || na || na || 27.9 || 12.2 || 18.3 || 16.7 || -21.6 || -12.3 || -9.0 Private Sector Credit Flow as % of GDP || 15% || 15.7 || 5.5 || 14.3 || 19.5 || 21.9 || 20.5 || 39.9 || 41.1 || 19.1 || 0.1 || -6.7 Private Sector Debt as % of GDP || 160% || 48 || 48 || 58 || 74 || 91 || 100 || 132 || 155 || 175 || 170 || 146 General Government Debt as % of GDP || 60% || 66 || 52 || 44 || 37 || 28 || 22 || 17 || 14 || 15 || 16 || 16 Unemployment rate - 3 year average || 10% || na || 18.0 || 17.2 || 14.7 || 12.0 || 10.4 || 8.6 || 7.1 || 6.5 || 7.5 || 9.4 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 6.6 || 7.9 || 22.1 || 36.6 || 34.3 || 51.9 || 29.3 || -3.5 || 0.9 || -2.4 || 5.6 Table 14: The MIP scoreboard for the Czech Republic || Czech Republic || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -4.0 || -5.0 || -5.5 || -5.4 || -4.0 || -2.7 || -2.4 || -2.8 || -2.9 || -2.8 || -3.0 Net International Investment Position as % of GDP || -35% || -10.0 || -15.5 || -19.6 || -28.2 || -26.9 || -32.3 || -38.7 || -40.1 || -46.0 || -48.2 || -49.3 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || 6.5 || 20.6 || 14.9 || 8.5 || 3.5 || 11.5 || 14.0 || 24.4 || 13.7 || 12.8 || 0.3 % Change (5 years) in Export Market Shares || -6% || 17.1 || 33.0 || 23.1 || 44.1 || 42.1 || 26.6 || 25.8 || 22.0 || 10.1 || 10.2 || 8.4 % Change (3 years) in Nominal ULC || +9% & +12% || 10.0 || 14.3 || 14.8 || 12.7 || 5.3 || 2.6 || 2.3 || 6.5 || 8.4 || 5.7 || 3.3 Internal imbalances || % y-o-y change in deflated House Prices || +6% || na || na || na || na || 0.0 || 5.3 || 15.8 || 7.4 || -4.5 || -2.0 || 0.0 Private Sector Credit Flow as % of GDP || 15% || -3.2 || 4.3 || -3.5 || 5.8 || 3.3 || 7.2 || 8.7 || 8.6 || 1.0 || 2.1 || 2.5 Private Sector Debt as % of GDP || 160% || 60 || 61 || 56 || 57 || 57 || 61 || 66 || 73 || 76 || 77 || 78 General Government Debt as % of GDP || 60% || 24 || 27 || 29 || 29 || 28 || 28 || 28 || 29 || 34 || 38 || 41 Unemployment rate - 3 year average || 10% || 8.4 || 8.0 || 7.7 || 7.8 || 8.0 || 7.8 || 6.8 || 5.6 || 5.5 || 6.1 || 6.9 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 0.8 || 8.6 || 5.8 || 5.8 || 11.3 || 3.6 || 15.5 || 6.6 || 2.1 || 2.8 || 3.8 Table 15: The MIP scoreboard for Denmark || Denmark || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || 2.2 || 2.3 || 3.0 || 3.0 || 3.6 || 3.4 || 2.9 || 2.4 || 2.5 || 4.1 || 5.0 Net International Investment Position as % of GDP || -35% || -16.6 || -16.4 || -12.1 || -5.3 || 3.9 || -0.2 || -5.8 || -5.1 || 4.4 || 10.1 || 24.5 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -3.5 || -1.1 || 8.1 || 6.8 || 4.2 || -0.5 || 0.1 || 3.2 || 5.7 || 0.9 || -1.7 % Change (5 years) in Export Market Shares || -6% || -1.9 || 12.6 || 10.8 || -1.2 || 3.8 || -3.0 || -8.7 || -8.2 || -5.1 || -15.0 || -16.9 % Change (3 years) in Nominal ULC || +9% & +12% || 7.2 || 8.4 || 10.3 || 6.0 || 4.9 || 4.9 || 9.4 || 13.6 || 17.7 || 11.0 || 4.7 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 3.4 || 1.9 || 1.9 || 7.6 || 15.8 || 21.8 || 1.4 || -7.7 || -13.3 || 0.1 || -4.9 Private Sector Credit Flow as % of GDP || 15% || 20.2 || 12.7 || 5.4 || 19.3 || 24.9 || 24.6 || 18.7 || 18.1 || -2.1 || 5.6 || -2.2 Private Sector Debt as % of GDP || 160% || 177 || 176 || 178 || 186 || 202 || 215 || 224 || 237 || 251 || 244 || 238 General Government Debt as % of GDP || 60% || 50 || 50 || 47 || 45 || 38 || 32 || 27 || 33 || 41 || 43 || 47 Unemployment rate - 3 year average || 10% || 4.7 || 4.5 || 4.8 || 5.2 || 5.2 || 4.7 || 4.2 || 3.7 || 4.4 || 5.6 || 7.0 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 6.5 || 6.3 || 9.0 || 10.9 || 21.1 || 10.1 || 10.5 || 6.4 || 0.7 || 8.0 || 4.7 Table 16: The MIP scoreboard for Germany || Germany || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -1.0 || 0.1 || 1.3 || 2.9 || 3.9 || 5.3 || 6.3 || 6.6 || 6.5 || 6.1 || 5.9 Net International Investment Position as % of GDP || -35% || 8.7 || 5.1 || 6.6 || 10.7 || 21.0 || 27.9 || 26.5 || 25.4 || 33.8 || 34.9 || 32.6 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -8.8 || -5.8 || 5.0 || 6.4 || 4.8 || 0.1 || 0.6 || 2.4 || 3.2 || -2.9 || -3.9 % Change (5 years) in Export Market Shares || -6% || -5.3 || 4.2 || 2.4 || 5.8 || 11.3 || 3.6 || 2.0 || -5.3 || -4.6 || -7.2 || -8.4 % Change (3 years) in Nominal ULC || +9% & +12% || 1.5 || 1.6 || 2.0 || 1.1 || -0.5 || -3.4 || -3.7 || -0.6 || 7.2 || 6.8 || 5.9 Internal imbalances || % y-o-y change in deflated House Prices || +6% || na || na || na || na || na || -1.4 || -3.6 || -0.3 || 0.8 || -1.0 || 1.4 Private Sector Credit Flow as % of GDP || 15% || 4.8 || 4.4 || 0.3 || -2.0 || -0.9 || 0.9 || 3.6 || 3.0 || 1.8 || 3.1 || 4.8 Private Sector Debt as % of GDP || 160% || 133 || 136 || 136 || 131 || 128 || 124 || 122 || 124 || 131 || 127 || 128 General Government Debt as % of GDP || 60% || 59 || 61 || 64 || 66 || 69 || 68 || 65 || 67 || 75 || 83 || 81 Unemployment rate - 3 year average || 10% || 8.2 || 8.2 || 8.8 || 9.7 || 10.5 || 10.7 || 10.1 || 8.8 || 8.0 || 7.5 || 6.9 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 3.0 || -0.5 || 3.5 || 3.6 || 5.6 || 4.8 || 5.9 || 1.9 || -1.1 || 0.1 || 2.1 Table 17: The MIP scoreboard for Estonia || Estonia || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -4.9 || -7.1 || -9.0 || -11.1 || -10.9 || -12.2 || -13.8 || -13.5 || -7.2 || -0.9 || 2.8 Net International Investment Position as % of GDP || -35% || -48.3 || -54.1 || -65.9 || -86.5 || -85.2 || -73.9 || -72.0 || -76.7 || -81.9 || -72.8 || -57.8 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || 2.6 || 4.0 || 9.3 || 6.9 || 6.9 || 6.5 || 9.5 || 15.1 || 13.7 || 6.2 || 0.8 % Change (5 years) in Export Market Shares || -6% || 48.7 || 23.7 || 19.4 || 36.5 || 41.7 || 37.8 || 39.3 || 22.7 || 9.8 || -0.8 || 11.1 % Change (3 years) in Nominal ULC || +9% & +12% || 11.3 || 11.1 || 13.4 || 15.1 || 15.1 || 19.6 || 32.9 || 46.7 || 36.2 || 9.1 || -6.2 Internal imbalances || % y-o-y change in deflated House Prices || +6% || na || na || na || na || 27.6 || 42.1 || 11.8 || -16.2 || -36.4 || 3.0 || 3.3 Private Sector Credit Flow as % of GDP || 15% || 20.0 || 22.1 || 21.4 || 27.1 || 26.8 || 40.3 || 32.2 || 13.0 || 2.6 || -4.4 || 6.8 Private Sector Debt as % of GDP || 160% || 81 || 90 || 98 || 111 || 122 || 150 || 159 || 164 || 175 || 149 || 133 General Government Debt as % of GDP || 60% || 5 || 6 || 6 || 5 || 5 || 4 || 4 || 5 || 7 || 7 || 6 Unemployment rate - 3 year average || 10% || 12.5 || 12.2 || 11.0 || 10.0 || 9.2 || 7.8 || 6.1 || 5.3 || 8.0 || 12.0 || 14.4 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 13.3 || 24.5 || 13.4 || 34.3 || 23.4 || 15.1 || 27.8 || 8.0 || -10.8 || -10.1 || -4.4 Table 18: The MIP scoreboard for Ireland || Ireland || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -0.3 || -0.7 || -0.5 || -0.5 || -1.4 || -2.5 || -4.1 || -4.9 || -4.5 || -2.3 || 0.0 Net International Investment Position as % of GDP || -35% || -15.2 || -17.9 || -20.0 || -17.9 || -24.5 || -5.3 || -19.6 || -76.2 || -93.0 || -88.9 || -96.0 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -2.2 || 4.5 || 17.5 || 17.6 || 12.0 || 3.4 || 4.1 || 8.0 || 5.3 || -4.9 || -9.1 % Change (5 years) in Export Market Shares || -6% || 64.0 || 60.0 || 26.6 || 12.6 || 5.9 || -12.5 || -15.7 || -21.2 || -5.3 || -12.7 || -12.2 % Change (3 years) in Nominal ULC || +9% & +12% || 8.0 || 8.8 || 11.7 || 10.2 || 13.7 || 12.9 || 12.8 || 14.8 || 6.7 || -4.1 || -12.8 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 3.7 || 5.1 || 11.7 || 9.8 || 9.9 || 12.2 || 4.1 || -8.4 || -12.9 || -10.5 || -15.2 Private Sector Credit Flow as % of GDP || 15% || na || 24.0 || 9.5 || 25.3 || 24.8 || 34.5 || 25.0 || 36.4 || 2.4 || 0.3 || 4.0 Private Sector Debt as % of GDP || 160% || 150 || 161 || 154 || 171 || 193 || 217 || 224 || 279 || 311 || 315 || 310 General Government Debt as % of GDP || 60% || 35 || 32 || 31 || 30 || 27 || 25 || 25 || 45 || 65 || 92 || 106 Unemployment rate - 3 year average || 10% || 4.6 || 4.2 || 4.3 || 4.5 || 4.5 || 4.4 || 4.5 || 5.1 || 7.6 || 10.6 || 13.3 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || na || 8.8 || 25.4 || 20.4 || 35.3 || 20.4 || 10.3 || 6.5 || 2.8 || 6.2 || -0.6 Table 19: The MIP scoreboard for Greece || Greece || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -6.2 || -7.2 || -6.8 || -6.3 || -6.7 || -8.3 || -11.2 || -13.6 || -13.6 || -12.1 || -10.4 Net International Investment Position as % of GDP || -35% || -46.5 || -52.9 || -58.9 || -67.0 || -77.3 || -85.4 || -96.1 || -76.8 || -89.6 || -98.4 || -86.1 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -5.2 || -3.5 || 9.0 || 9.5 || 6.8 || 2.5 || 1.9 || 4.0 || 5.1 || 4.1 || 3.1 % Change (5 years) in Export Market Shares || -6% || 72.5 || 55.0 || 51.0 || 21.6 || 6.3 || -4.8 || 3.8 || 1.1 || -13.9 || -20.0 || -18.7 % Change (3 years) in Nominal ULC || +9% & +12% || na || na || 11.4 || 14.3 || 8.3 || 5.5 || 5.9 || 6.6 || 14.5 || 11.5 || 4.1 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 11.4 || 11.0 || 2.0 || -0.5 || 12.0 || 9.3 || 1.9 || 0.3 || 0.4 || -6.5 || -5.1 Private Sector Credit Flow as % of GDP || 15% || 10.9 || 7.7 || 10.7 || 11.9 || 15.0 || 16.9 || 17.0 || 16.5 || 3.8 || 0.7 || -5.5 Private Sector Debt as % of GDP || 160% || 65 || 68 || 72 || 79 || 90 || 98 || 108 || 119 || 123 || 125 || 125 General Government Debt as % of GDP || 60% || 104 || 102 || 97 || 99 || 101 || 108 || 107 || 113 || 130 || 148 || 171 Unemployment rate - 3 year average || 10% || 11.3 || 10.7 || 10.2 || 10.2 || 10.0 || 9.8 || 9.0 || 8.3 || 8.5 || 9.9 || 13.2 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 0.8 || 0.2 || 8.6 || 9.0 || 16.8 || 14.2 || 22.1 || 4.6 || 10.2 || 8.5 || -3.4 Table 20: The MIP scoreboard for Spain || Spain || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -3.6 || -3.7 || -3.6 || -4.0 || -5.4 || -7.2 || -8.8 || -9.5 || -8.1 || -6.3 || -4.3 Net International Investment Position as % of GDP || -35% || -35.6 || -41.6 || -45.2 || -51.9 || -55.6 || -65.8 || -78.1 || -79.3 || -93.7 || -88.9 || -91.7 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -2.1 || 1.0 || 8.8 || 9.7 || 7.9 || 4.3 || 4.2 || 6.2 || 5.0 || 0.8 || -1.3 % Change (5 years) in Export Market Shares || -6% || 2.7 || 6.9 || 5.8 || 2.5 || 5.5 || -3.2 || -3.2 || -13.6 || -7.1 || -10.6 || -7.6 % Change (3 years) in Nominal ULC || +9% & +12% || 8.1 || 9.4 || 9.3 || 8.5 || 8.8 || 9.2 || 11.0 || 13.4 || 11.4 || 4.9 || -2.1 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 6.2 || 12.6 || 14.0 || 13.4 || 10.0 || 11.8 || 6.4 || -4.9 || -5.7 || -3.9 || -10.0 Private Sector Credit Flow as % of GDP || 15% || 18.7 || 16.6 || 17.1 || 21.8 || 27.8 || 37.0 || 27.0 || 12.3 || -3.0 || 1.4 || -4.1 Private Sector Debt as % of GDP || 160% || 133 || 140 || 148 || 160 || 177 || 200 || 215 || 221 || 227 || 227 || 218 General Government Debt as % of GDP || 60% || 56 || 53 || 49 || 46 || 43 || 40 || 36 || 40 || 54 || 62 || 69 Unemployment rate - 3 year average || 10% || 11.8 || 11.2 || 11.1 || 11.2 || 10.5 || 9.5 || 8.6 || 9.4 || 12.6 || 16.5 || 19.9 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 6.9 || 4.6 || 15.5 || 15.1 || 24.6 || 19.0 || 16.9 || 4.7 || 3.8 || -2.2 || 3.7 Table 21: The MIP scoreboard for France || France || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || 1.8 || 1.3 || 1.1 || 0.7 || 0.2 || -0.2 || -0.7 || -1.1 || -1.4 || -1.5 || -1.6 Net International Investment Position as % of GDP || -35% || -2.0 || 3.0 || -4.2 || -4.7 || 1.1 || 1.1 || -1.5 || -12.9 || -9.4 || -7.8 || -15.9 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -7.7 || -3.9 || 6.5 || 8.1 || 6.0 || 0.8 || 0.2 || 2.7 || 2.9 || -1.2 || -3.2 % Change (5 years) in Export Market Shares || -6% || -10.5 || -7.8 || -13.1 || -12.3 || -9.5 || -16.0 || -18.0 || -21.5 || -10.0 || -13.4 || -11.2 % Change (3 years) in Nominal ULC || +9% & +12% || 4.8 || 7.0 || 7.6 || 6.2 || 4.9 || 4.7 || 5.4 || 6.8 || 8.8 || 7.7 || 6.0 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 5.8 || 7.1 || 9.6 || 12.9 || 13.2 || 9.7 || 4.4 || -2.0 || -6.5 || 4.0 || 3.8 Private Sector Credit Flow as % of GDP || 15% || 10.4 || 4.7 || 3.8 || 6.8 || 9.0 || 10.7 || 12.6 || 9.1 || -1.8 || 1.8 || 4.0 Private Sector Debt as % of GDP || 160% || 124 || 124 || 124 || 127 || 132 || 137 || 143 || 150 || 157 || 159 || 160 General Government Debt as % of GDP || 60% || 57 || 59 || 63 || 65 || 67 || 64 || 64 || 68 || 79 || 82 || 86 Unemployment rate - 3 year average || 10% || 9.2 || 8.5 || 8.5 || 8.8 || 9.2 || 9.3 || 9.0 || 8.5 || 8.6 || 9.0 || 9.6 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 5.2 || 1.6 || 6.4 || 10.0 || 15.1 || 15.0 || 13.1 || 2.5 || 0.2 || 3.0 || 7.3 Table 22: The MIP scoreboard for Italy || Italy || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || 0.4 || -0.1 || -0.3 || -0.5 || -0.7 || -0.9 || -1.2 || -1.9 || -2.0 || -2.8 || -2.9 Net International Investment Position as % of GDP || -35% || -5.8 || -12.4 || -13.6 || -15.8 || -16.8 || -22.2 || -24.5 || -24.1 || -25.3 || -24.0 || -20.6 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -5.7 || -2.0 || 8.8 || 9.9 || 6.9 || 1.1 || 0.7 || 3.2 || 3.9 || -0.9 || -2.1 % Change (5 years) in Export Market Shares || -6% || -18.5 || -14.2 || -13.4 || -7.4 || -5.2 || -12.5 || -9.3 || -16.3 || -17.9 || -19.2 || -18.4 % Change (3 years) in Nominal ULC || +9% & +12% || 4.8 || 7.0 || 10.7 || 9.8 || 8.7 || 6.5 || 6.1 || 8.3 || 10.5 || 8.1 || 4.4 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 5.4 || 6.5 || 7.4 || 7.1 || 5.2 || 3.2 || 2.6 || -0.4 || -0.3 || -1.5 || -2.0 Private Sector Credit Flow as % of GDP || 15% || 8.4 || 6.4 || 7.0 || 8.3 || 9.4 || 10.9 || 13.1 || 6.7 || 1.3 || 3.8 || 2.6 Private Sector Debt as % of GDP || 160% || 87 || 90 || 93 || 98 || 104 || 110 || 118 || 122 || 128 || 129 || 129 General Government Debt as % of GDP || 60% || 108 || 105 || 104 || 103 || 106 || 106 || 103 || 106 || 116 || 119 || 121 Unemployment rate - 3 year average || 10% || 10.0 || 9.2 || 8.6 || 8.3 || 8.1 || 7.5 || 6.9 || 6.5 || 6.9 || 7.6 || 8.2 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || -3.0 || 3.9 || 11.6 || 7.2 || 12.1 || 10.5 || 0.5 || -2.7 || 5.7 || 1.7 || 3.8 Table 23: The MIP scoreboard for Cyprus || Cyprus || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -3.5 || -4.1 || -3.1 || -3.7 || -4.4 || -6.0 || -8.2 || -11.5 || -12.7 || -12.1 || -8.4 Net International Investment Position as % of GDP || -35% || na || 10.6 || 4.3 || 14.1 || 20.3 || 38.3 || 11.7 || -15.1 || -30.4 || -35.6 || -71.3 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -3.5 || 0.8 || 8.1 || 8.1 || 6.7 || 1.3 || 0.2 || 3.1 || 3.7 || 1.7 || -0.9 % Change (5 years) in Export Market Shares || -6% || -2.1 || 1.7 || -0.7 || -6.1 || -2.3 || -17.9 || -11.2 || -14.9 || -9.0 || -19.4 || -16.4 % Change (3 years) in Nominal ULC || +9% & +12% || 6.2 || 9.6 || 17.1 || 17.1 || 13.6 || 4.6 || 3.8 || 4.0 || 7.0 || 7.2 || 8.8 Internal imbalances || % y-o-y change in deflated House Prices || +6% || na || na || na || na || na || 8.8 || 8.2 || 1.2 || -7.2 || -7.7 || -8.5 Private Sector Credit Flow as % of GDP || 15% || 11.9 || 14.7 || 6.8 || 10.8 || 46.7 || 10.4 || 38.8 || 38.3 || 15.5 || 23.7 || 16.1 Private Sector Debt as % of GDP || 160% || 164 || 174 || 170 || 168 || 204 || 200 || 221 || 242 || 262 || 278 || 288 General Government Debt as % of GDP || 60% || 61 || 65 || 70 || 71 || 69 || 65 || 59 || 49 || 59 || 61 || 71 Unemployment rate - 3 year average || 10% || na || 4.1 || 4.0 || 4.2 || 4.8 || 5.0 || 4.7 || 4.2 || 4.4 || 5.2 || 6.6 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 8.0 || -4.6 || 8.9 || 18.1 || 37.8 || 29.6 || 22.8 || 15.0 || 18.8 || -6.0 || -0.2 Table 24: The MIP scoreboard for Latvia || Latvia || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -7.1 || -6.4 || -7.5 || -9.3 || -11.2 || -16.0 || -19.2 || -19.4 || -9.0 || -0.5 || 3.1 Net International Investment Position as % of GDP || -35% || -37.6 || -41.3 || -43.8 || -52.3 || -59.6 || -69.9 || -74.7 || -79.0 || -82.7 || -80.3 || -73.3 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || 13.3 || 5.1 || -7.1 || -6.9 || -4.4 || 4.8 || 11.1 || 24.0 || 23.7 || 8.7 || -0.6 % Change (5 years) in Export Market Shares || -6% || 14.9 || 13.9 || 10.1 || 29.8 || 43.5 || 32.0 || 45.7 || 41.1 || 31.7 || 13.9 || 23.6 % Change (3 years) in Nominal ULC || +9% & +12% || -1.4 || -4.9 || 2.1 || 10.5 || 29.2 || 42.9 || 71.4 || 79.4 || 42.0 || -0.3 || -15.0 Internal imbalances || % y-o-y change in deflated House Prices || +6% || -1.0 || 71.7 || 21.6 || -3.4 || 23.1 || 9.2 || 24.0 || -13.0 || -39.3 || -9.3 || 4.9 Private Sector Credit Flow as % of GDP || 15% || 8.9 || 9.8 || 14.3 || 18.1 || 26.4 || 43.0 || 36.6 || 14.3 || -6.1 || -8.7 || -2.5 Private Sector Debt as % of GDP || 160% || 50 || 54 || 62 || 75 || 95 || 122 || 128 || 132 || 147 || 140 || 125 General Government Debt as % of GDP || 60% || 14 || 14 || 15 || 15 || 13 || 11 || 9 || 20 || 37 || 45 || 42 Unemployment rate - 3 year average || 10% || 13.6 || 13.1 || 12.4 || 11.8 || 10.7 || 9.3 || 7.8 || 7.3 || 10.9 || 15.3 || 18.1 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 20.2 || 24.7 || 23.6 || 35.6 || 41.0 || 47.8 || 36.7 || 7.8 || -8.1 || -0.1 || -4.5 . Table 25: The MIP scoreboard for Lithuania || Lithuania || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -7.1 || -5.2 || -5.5 || -6.5 || -7.1 || -8.4 || -10.7 || -12.7 || -7.9 || -3.0 || 0.0 Net International Investment Position as % of GDP || -35% || -34.4 || -32.6 || -33.1 || -34.4 || -42.6 || -48.9 || -55.8 || -51.6 || -57.3 || -55.4 || -52.6 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || 16.0 || 15.2 || 6.7 || 4.2 || 1.0 || 0.9 || 4.5 || 12.3 || 16.9 || 9.4 || 3.6 % Change (5 years) in Export Market Shares || -6% || 25.6 || 23.3 || 37.3 || 72.8 || 77.7 || 50.4 || 30.7 || 39.9 || 22.4 || 13.7 || 25.2 % Change (3 years) in Nominal ULC || +9% & +12% || -17.0 || -16.6 || -0.8 || 6.2 || 10.6 || 20.7 || 24.5 || 29.6 || 15.9 || 1.2 || -8.4 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 21.0 || 9.9 || 19.9 || 15.0 || 48.7 || 34.8 || 25.7 || -1.4 || -32.9 || -8.7 || 2.4 Private Sector Credit Flow as % of GDP || 15% || 2.1 || 3.7 || 7.8 || 10.0 || 15.5 || 19.0 || 27.2 || 9.4 || -11.5 || -5.6 || -0.8 Private Sector Debt as % of GDP || 160% || 29 || 30 || 36 || 42 || 53 || 65 || 82 || 82 || 88 || 80 || 70 General Government Debt as % of GDP || 60% || 23 || 22 || 21 || 19 || 18 || 18 || 17 || 16 || 29 || 38 || 39 Unemployment rate - 3 year average || 10% || 16.1 || 15.9 || 14.5 || 12.5 || 10.7 || 8.4 || 6.1 || 5.3 || 8.0 || 12.5 || 15.6 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 17.8 || 15.9 || 31.6 || 25.1 || 48.9 || 32.5 || 34.3 || 3.7 || -3.7 || 0.0 || 8.9 Table 26: The MIP scoreboard for Luxembourg || Luxembourg || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || 10.1 || 10.8 || 9.1 || 10.2 || 10.5 || 11.3 || 10.7 || 8.6 || 7.5 || 6.9 || 7.5 Net International Investment Position as % of GDP || -35% || na || 100.4 || 140.3 || 113.1 || 127.8 || 131.6 || 95.5 || 100.1 || 85.7 || 96.6 || 107.8 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -1.6 || 0.1 || 4.5 || 5.8 || 6.6 || 4.0 || 3.3 || 4.0 || 4.1 || 2.0 || 0.8 % Change (5 years) in Export Market Shares || -6% || 26.0 || 26.7 || 17.2 || 16.4 || 17.4 || 19.6 || 28.2 || 15.6 || 10.6 || -0.6 || -10.1 % Change (3 years) in Nominal ULC || +9% & +12% || 10.0 || 11.6 || 10.4 || 4.8 || 4.8 || 4.8 || 5.2 || 12.5 || 19.3 || 19.2 || 12.5 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 11.8 || 7.9 || 8.8 || 11.3 || 8.1 || 3.7 || 2.4 || -0.5 || -2.8 || 2.5 || 1.5 Private Sector Credit Flow as % of GDP || 15% || na || na || na || na || na || 14.1 || 33.4 || -37.6 || 176.3 || 7.3 || 2.5 Private Sector Debt as % of GDP || 160% || na || na || na || na || na || 161 || 205 || 221 || 373 || 345 || 326 General Government Debt as % of GDP || 60% || 6 || 6 || 6 || 6 || 6 || 7 || 7 || 14 || 15 || 19 || 18 Unemployment rate - 3 year average || 10% || 2.2 || 2.2 || 2.8 || 3.8 || 4.5 || 4.7 || 4.5 || 4.6 || 4.7 || 4.9 || 4.8 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || na || na || na || na || na || na || 15.1 || -11.8 || 6.1 || 12.4 || 11.3 Table 27: The MIP scoreboard for Hungary || Hungary || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -7.5 || -7.2 || -7.0 || -7.8 || -7.8 || -7.6 || -7.3 || -7.3 || -4.9 || -2.2 || 0.6 Net International Investment Position as % of GDP || -35% || -66.3 || -65.2 || -78.1 || -85.4 || -94.4 || -102.8 || -105.1 || -106.0 || -117.2 || -112.8 || -105.9 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || 12.2 || 20.5 || 20.1 || 17.7 || 9.2 || 3.0 || 8.0 || 9.3 || 8.0 || -0.3 || -3.3 % Change (5 years) in Export Market Shares || -6% || 65.0 || 43.0 || 43.0 || 33.7 || 30.9 || 16.9 || 20.8 || 13.9 || 6.6 || 1.4 || -2.8 % Change (3 years) in Nominal ULC || +9% & +12% || 31.1 || 34.2 || 27.4 || 19.8 || 13.3 || 9.3 || 11.3 || 13.1 || 14.0 || 6.4 || 3.7 Internal imbalances || % y-o-y change in deflated House Prices || +6% || na || na || na || na || na || 1.6 || -2.0 || -4.0 || -9.8 || -6.4 || -4.1 Private Sector Credit Flow as % of GDP || 15% || 10.3 || 15.3 || 18.3 || 12.8 || 17.4 || 18.0 || 22.0 || 29.2 || 5.4 || -21.6 || 6.4 Private Sector Debt as % of GDP || 160% || 67 || 71 || 85 || 86 || 102 || 111 || 126 || 156 || 171 || 154 || 167 General Government Debt as % of GDP || 60% || 53 || 56 || 59 || 60 || 62 || 66 || 67 || 73 || 80 || 82 || 81 Unemployment rate - 3 year average || 10% || 6.2 || 5.8 || 5.6 || 5.8 || 6.3 || 6.9 || 7.3 || 7.5 || 8.4 || 9.7 || 10.7 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 6.5 || 5.7 || 19.8 || 16.7 || 21.1 || 18.0 || 13.4 || 14.6 || 8.2 || 3.2 || -2.6 Table 28: The MIP scoreboard for Malta || Malta || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -6.4 || -4.6 || -1.5 || -2.2 || -5.9 || -8.2 || -8.3 || -7.0 || -6.3 || -5.8 || -4.3 Net International Investment Position as % of GDP || -35% || 13.6 || 34.6 || 39.6 || 40.1 || 36.9 || 28.0 || 18.1 || 2.7 || 13.6 || 7.4 || 5.7 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -0.6 || 1.8 || 5.9 || 7.4 || 5.6 || 4.0 || 3.2 || 7.0 || 5.9 || 0.7 || -3.0 % Change (5 years) in Export Market Shares || -6% || -4.0 || 9.4 || -3.4 || -15.2 || -21.6 || -9.5 || -12.1 || -10.8 || 11.2 || 19.4 || 11.7 % Change (3 years) in Nominal ULC || +9% & +12% || na || na || 16.5 || 8.9 || 7.5 || 5.2 || 3.7 || 8.1 || 10.1 || 8.2 || 5.8 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 2.7 || 6.4 || 12.4 || 17.7 || 6.9 || 18.6 || 18.7 || 7.5 || -6.7 || -2.0 || -2.3 Private Sector Credit Flow as % of GDP || 15% || na || na || na || na || 11.9 || 17.1 || 4.6 || 18.1 || 11.3 || 6.8 || 2.2 Private Sector Debt as % of GDP || 160% || na || na || na || 178 || 181 || 194 || 192 || 201 || 213 || 209 || 210 General Government Debt as % of GDP || 60% || 61 || 59 || 68 || 72 || 70 || 64 || 62 || 62 || 68 || 68 || 71 Unemployment rate - 3 year average || 10% || na || 7.3 || 7.6 || 7.5 || 7.4 || 7.1 || 6.9 || 6.5 || 6.5 || 6.6 || 6.8 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || na || na || na || na || 27.9 || 14.3 || 22.3 || 10.0 || -0.4 || 18.5 || 1.4 Table 29: The MIP scoreboard for the Netherlands || Netherlands || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || 2.8 || 2.4 || 3.6 || 5.3 || 6.9 || 8.1 || 7.8 || 6.8 || 5.4 || 5.7 || 7.5 Net International Investment Position as % of GDP || -35% || -13.4 || -24.3 || -1.7 || 3.7 || -2.6 || 3.2 || -6.0 || 4.2 || 16.7 || 22.6 || 35.5 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || 0.0 || 3.2 || 10.9 || 7.2 || 3.3 || -1.1 || -1.0 || 0.7 || 2.8 || -0.9 || -1.6 % Change (5 years) in Export Market Shares || -6% || -8.1 || -3.8 || -2.3 || -2.4 || 1.7 || -4.4 || -2.7 || -9.4 || -6.3 || -8.2 || -8.2 % Change (3 years) in Nominal ULC || +9% & +12% || 9.4 || 13.2 || 12.8 || 7.6 || 2.3 || 0.4 || 1.8 || 5.4 || 10.2 || 7.6 || 5.8 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 6.4 || 3.3 || 1.3 || 3.2 || 1.8 || 2.0 || 3.1 || 1.0 || -3.8 || -2.8 || -4.0 Private Sector Credit Flow as % of GDP || 15% || 13.7 || 12.2 || 10.2 || 7.0 || 14.6 || 12.7 || 9.2 || 7.5 || 6.3 || 3.3 || 0.7 Private Sector Debt as % of GDP || 160% || 191 || 195 || 203 || 205 || 211 || 213 || 211 || 211 || 226 || 225 || 225 General Government Debt as % of GDP || 60% || 51 || 51 || 52 || 52 || 52 || 47 || 45 || 59 || 61 || 63 || 66 Unemployment rate - 3 year average || 10% || 3.0 || 2.9 || 3.3 || 4.1 || 4.8 || 4.9 || 4.4 || 3.7 || 3.5 || 3.8 || 4.2 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 8.1 || 0.3 || 9.4 || 6.0 || 14.8 || 12.1 || 16.3 || -0.6 || 6.1 || 6.8 || 7.2 Table 30: The MIP scoreboard for Austria || Austria || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -1.1 || 0.4 || 1.2 || 2.2 || 2.0 || 2.4 || 2.8 || 3.7 || 3.7 || 3.7 || 2.2 Net International Investment Position as % of GDP || -35% || -25.6 || -20.1 || -14.3 || -17.3 || -21.7 || -20.5 || -18.2 || -16.9 || -8.0 || -8.1 || -2.3 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -5.0 || -3.2 || 3.1 || 3.8 || 2.7 || -0.4 || -0.3 || 1.0 || 2.1 || -1.3 || -1.0 % Change (5 years) in Export Market Shares || -6% || -3.8 || 6.6 || 2.6 || 5.2 || 12.7 || 1.3 || 0.7 || -5.6 || -8.4 || -14.8 || -12.7 % Change (3 years) in Nominal ULC || +9% & +12% || 0.4 || 0.6 || 2.6 || 1.1 || 2.2 || 1.8 || 3.5 || 6.1 || 10.2 || 8.9 || 5.9 Internal imbalances || % y-o-y change in deflated House Prices || +6% || na || na || na || na || na || 1.9 || 1.6 || -1.0 || 0.9 || -1.3 || -8.0 Private Sector Credit Flow as % of GDP || 15% || 7.9 || 5.2 || 6.8 || 4.0 || 7.7 || 7.2 || 15.5 || 6.6 || -3.5 || 6.8 || 4.1 Private Sector Debt as % of GDP || 160% || 127 || 127 || 129 || 128 || 132 || 144 || 152 || 157 || 158 || 164 || 161 General Government Debt as % of GDP || 60% || 67 || 66 || 65 || 65 || 64 || 62 || 60 || 64 || 69 || 72 || 72 Unemployment rate - 3 year average || 10% || 3.7 || 3.8 || 4.0 || 4.5 || 4.8 || 5.0 || 4.8 || 4.3 || 4.3 || 4.3 || 4.4 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 5.3 || 0.7 || 6.6 || 11.3 || 16.5 || 10.0 || 9.4 || 11.8 || -1.7 || -1.7 || -0.3 Table 31: The MIP scoreboard for Poland || Poland || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -5.5 || -4.0 || -2.8 || -3.5 || -3.4 || -3.8 || -4.1 || -5.5 || -5.5 || -5.2 || -4.6 Net International Investment Position as % of GDP || -35% || -29.5 || -34.9 || -41.7 || -41.6 || -42.5 || -45.7 || -50.1 || -56.3 || -58.8 || -65.4 || -63.5 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || 20.0 || 19.0 || -4.6 || -16.2 || -1.5 || 13.7 || 18.7 || 16.1 || -3.8 || -0.5 || -10.9 % Change (5 years) in Export Market Shares || -6% || 20.3 || 22.9 || 21.7 || 55.1 || 48.2 || 37.5 || 42.2 || 39.2 || 27.9 || 20.1 || 12.8 % Change (3 years) in Nominal ULC || +9% & +12% || 16.4 || 8.9 || 0.7 || -7.5 || -5.1 || -2.9 || 1.9 || 9.2 || 12.8 || 11.3 || 4.3 Internal imbalances || % y-o-y change in deflated House Prices || +6% || na || na || na || na || na || 35.0 || 45.2 || -4.8 || -5.2 || -6.2 || -5.7 Private Sector Credit Flow as % of GDP || 15% || 3.9 || 0.9 || 2.4 || 2.1 || 4.5 || 10.0 || 12.0 || 12.1 || 3.9 || 3.6 || 7.1 Private Sector Debt as % of GDP || 160% || 43 || 49 || 48 || 43 || 44 || 52 || 59 || 72 || 72 || 74 || 80 General Government Debt as % of GDP || 60% || 38 || 42 || 47 || 46 || 47 || 48 || 45 || 47 || 51 || 55 || 56 Unemployment rate - 3 year average || 10% || 15.9 || 18.1 || 19.3 || 19.6 || 18.8 || 16.9 || 13.8 || 10.2 || 8.3 || 8.3 || 9.2 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 12.5 || 1.7 || 17.1 || 15.2 || 19.4 || 24.3 || 18.9 || 7.1 || 9.6 || 13.3 || 4.4 Table 32: The MIP scoreboard for Portugal || Portugal || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -9.8 || -9.6 || -8.3 || -7.7 || -8.4 || -9.8 || -10.4 || -11.1 || -11.2 || -11.2 || -9.1 Net International Investment Position as % of GDP || -35% || -47.5 || -54.6 || -57.5 || -64.1 || -66.9 || -78.8 || -87.9 || -96.2 || -110.4 || -107.3 || -105.0 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -0.3 || 2.3 || 9.6 || 8.2 || 5.3 || 1.4 || 1.5 || 2.7 || 1.3 || -2.2 || -1.9 % Change (5 years) in Export Market Shares || -6% || -6.5 || 1.4 || -2.6 || -2.7 || -3.7 || -5.4 || -5.5 || -13.3 || -9.3 || -8.6 || -9.5 % Change (3 years) in Nominal ULC || +9% & +12% || 11.0 || 11.9 || 11.3 || 8.2 || 8.6 || 5.5 || 5.7 || 5.6 || 8.0 || 5.1 || 0.9 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 1.9 || -2.1 || -1.7 || -1.9 || -0.5 || -1.0 || -1.6 || 1.4 || 2.8 || 0.2 || -3.6 Private Sector Credit Flow as % of GDP || 15% || 21.9 || 12.1 || 9.2 || 9.9 || 13.7 || 16.5 || 24.6 || 21.8 || 7.5 || 4.5 || -3.2 Private Sector Debt as % of GDP || 160% || 184 || 188 || 193 || 193 || 200 || 209 || 223 || 240 || 252 || 250 || 249 General Government Debt as % of GDP || 60% || 54 || 57 || 59 || 62 || 68 || 69 || 68 || 72 || 83 || 94 || 108 Unemployment rate - 3 year average || 10% || 4.7 || 4.9 || 5.8 || 6.8 || 7.7 || 8.2 || 8.7 || 8.7 || 9.3 || 10.4 || 11.9 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 6.2 || 2.6 || 9.6 || 2.8 || 9.8 || 11.3 || 9.9 || 5.4 || 9.5 || 10.0 || -0.7 Table 33: The MIP scoreboard for Romania || Romania || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -4.4 || -4.1 || -4.9 || -5.9 || -7.6 || -9.1 || -10.8 || -11.8 || -9.7 || -6.7 || -4.3 Net International Investment Position as % of GDP || -35% || -25.0 || -21.2 || -27.1 || -26.4 || -29.5 || -36.2 || -47.1 || -53.4 || -62.2 || -63.8 || -62.5 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -1.1 || 14.6 || -1.6 || -1.4 || 16.3 || 29.4 || 37.6 || 10.6 || -4.9 || -10.0 || -2.4 % Change (5 years) in Export Market Shares || -6% || 21.5 || 39.9 || 58.8 || 71.7 || 64.6 || 51.2 || 42.8 || 41.6 || 32.7 || 21.2 || 22.8 % Change (3 years) in Nominal ULC || +9% & +12% || na || 138.7 || 75.2 || 24.5 || 52.3 || 32.1 || 47.5 || 48.6 || 45.7 || 36.5 || 12.9 Internal imbalances || % y-o-y change in deflated House Prices || +6% || na || na || na || na || na || 46.0 || 44.5 || -19.0 || -26.3 || -14.5 || -18.9 Private Sector Credit Flow as % of GDP || 15% || 7.0 || 8.8 || 8.0 || 9.2 || 12.0 || 22.7 || 34.3 || 27.9 || 7.9 || 1.7 || 1.8 Private Sector Debt as % of GDP || 160% || 30 || 34 || 36 || 36 || 42 || 68 || 107 || 115 || 123 || 76 || 72 General Government Debt as % of GDP || 60% || 26 || 25 || 22 || 19 || 16 || 12 || 13 || 13 || 24 || 31 || 33 Unemployment rate - 3 year average || 10% || 6.5 || 6.9 || 6.9 || 7.4 || 7.3 || 7.5 || 6.9 || 6.5 || 6.4 || 6.6 || 7.2 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 53.1 || 42.8 || 28.0 || 62.9 || 46.7 || 35.3 || 35.2 || 11.7 || 14.4 || 4.4 || 4.3 Table 34: The MIP scoreboard for Slovenia || Slovenia || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -1.9 || -0.5 || 0.1 || -0.8 || -1.7 || -2.3 || -3.0 || -4.5 || -3.9 || -2.5 || -0.4 Net International Investment Position as % of GDP || -35% || -2.2 || 0.1 || -5.9 || -7.8 || -11.0 || -17.1 || -21.8 || -35.7 || -39.6 || -42.8 || -41.2 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -2.5 || 0.2 || 5.3 || 4.6 || 1.7 || -0.7 || 1.0 || 4.2 || 5.7 || 2.4 || -0.3 % Change (5 years) in Export Market Shares || -6% || -6.2 || 5.4 || 3.4 || 16.4 || 27.0 || 17.6 || 18.7 || 11.1 || 6.0 || -4.5 || -6.1 % Change (3 years) in Nominal ULC || +9% & +12% || 22.2 || 24.0 || 20.6 || 14.6 || 9.7 || 6.2 || 5.2 || 10.3 || 18.4 || 15.9 || 8.3 Internal imbalances || % y-o-y change in deflated House Prices || +6% || na || na || na || 7.3 || 13.1 || 14.2 || 17.4 || 1.5 || -10.4 || -1.3 || 1.0 Private Sector Credit Flow as % of GDP || 15% || na || 8.6 || 8.7 || 9.6 || 13.6 || 13.9 || 23.5 || 18.3 || 4.1 || 1.8 || 1.9 Private Sector Debt as % of GDP || 160% || 64 || 67 || 71 || 75 || 85 || 91 || 106 || 117 || 127 || 128 || 128 General Government Debt as % of GDP || 60% || 27 || 28 || 27 || 27 || 27 || 26 || 23 || 22 || 35 || 39 || 47 Unemployment rate - 3 year average || 10% || 6.8 || 6.4 || 6.4 || 6.5 || 6.5 || 6.3 || 5.8 || 5.1 || 5.0 || 5.9 || 7.1 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || na || 24.3 || 12.6 || 11.5 || 17.7 || 13.8 || 28.5 || 6.6 || 7.4 || -3.4 || -1.3 Table 35: The MIP scoreboard for Slovakia || Slovakia || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -5.8 || -6.5 || -7.4 || -7.2 || -7.4 || -8.1 || -7.2 || -6.4 || -4.7 || -4.2 || -2.1 Net International Investment Position as % of GDP || -35% || -18.4 || -16.2 || -24.5 || -31.0 || -38.7 || -46.8 || -46.2 || -57.4 || -66.7 || -63.2 || -64.4 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || 9.6 || 15.8 || 17.8 || 26.8 || 27.3 || 19.5 || 19.4 || 26.0 || 27.1 || 11.8 || 4.3 % Change (5 years) in Export Market Shares || -6% || 21.4 || 25.7 || 41.2 || 61.5 || 57.0 || 59.4 || 74.4 || 52.1 || 39.8 || 31.3 || 20.9 % Change (3 years) in Nominal ULC || +9% & +12% || 16.8 || 17.1 || 11.3 || 11.2 || 11.0 || 8.5 || 6.2 || 6.7 || 10.9 || 9.4 || 4.4 Internal imbalances || % y-o-y change in deflated House Prices || +6% || na || na || na || na || na || 11.5 || 25.7 || 12.8 || -12.8 || -4.9 || -5.6 Private Sector Credit Flow as % of GDP || 15% || 4.3 || 8.0 || 3.9 || 3.1 || 7.9 || 9.4 || 10.3 || 12.4 || 2.8 || 3.3 || 3.3 Private Sector Debt as % of GDP || 160% || 49 || 53 || 49 || 49 || 51 || 55 || 64 || 69 || 74 || 73 || 76 General Government Debt as % of GDP || 60% || 49 || 43 || 42 || 42 || 34 || 31 || 30 || 28 || 36 || 41 || 43 Unemployment rate - 3 year average || 10% || 18.3 || 19.1 || 18.7 || 18.3 || 17.5 || 16.1 || 13.7 || 11.4 || 11.0 || 12.1 || 13.4 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 9.3 || 0.4 || 6.8 || 7.7 || 19.1 || -7.5 || 24.8 || 8.9 || -5.0 || 2.2 || 1.2 Table 36: The MIP scoreboard for Finland || Finland || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || 7.2 || 8.2 || 7.2 || 6.5 || 4.8 || 4.6 || 3.9 || 3.7 || 2.9 || 2.0 || 0.6 Net International Investment Position as % of GDP || -35% || -82.2 || -36.8 || -26.4 || -10.0 || -15.3 || -13.8 || -27.9 || -9.7 || 0.0 || 11.8 || 13.1 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -4.7 || -1.4 || 7.7 || 5.7 || 2.5 || -2.5 || -1.4 || 2.4 || 5.3 || 0.2 || -1.3 % Change (5 years) in Export Market Shares || -6% || -4.9 || -0.6 || -6.4 || -1.9 || -6.1 || -7.0 || -5.1 || -5.6 || -14.9 || -19.9 || -22.9 % Change (3 years) in Nominal ULC || +9% & +12% || 5.0 || 5.1 || 5.3 || 1.5 || 2.9 || 2.5 || 3.1 || 7.7 || 16.9 || 14.4 || 9.1 Internal imbalances || % y-o-y change in deflated House Prices || +6% || -3.7 || 3.7 || 7.0 || 7.7 || 7.2 || 5.5 || 3.6 || -2.5 || 0.0 || 4.1 || -0.3 Private Sector Credit Flow as % of GDP || 15% || 2.1 || 5.4 || 8.9 || 9.2 || 8.2 || 13.2 || 15.1 || 20.5 || -1.3 || 6.9 || 4.6 Private Sector Debt as % of GDP || 160% || 125 || 127 || 134 || 137 || 142 || 147 || 151 || 169 || 179 || 183 || 179 General Government Debt as % of GDP || 60% || 43 || 42 || 45 || 44 || 42 || 40 || 35 || 34 || 44 || 49 || 49 Unemployment rate - 3 year average || 10% || 9.7 || 9.3 || 9.1 || 9.0 || 8.7 || 8.3 || 7.6 || 7.0 || 7.2 || 7.7 || 8.1 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 8.3 || 3.3 || 13.3 || 14.6 || 13.6 || 12.2 || 10.5 || 16.4 || 6.5 || 18.9 || 30.8 Table 37: The MIP scoreboard for Sweden || Sweden || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || 4.4 || 4.6 || 5.5 || 6.1 || 6.8 || 7.3 || 8.1 || 8.9 || 8.3 || 7.5 || 6.6 Net International Investment Position as % of GDP || -35% || -25.0 || -22.0 || -20.0 || -25.0 || -20.7 || -13.0 || -1.5 || -10.5 || -9.3 || -7.4 || -8.3 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -12.0 || -7.6 || 0.3 || 10.3 || 3.9 || -2.5 || -2.6 || -0.9 || -8.3 || -2.6 || 3.9 % Change (5 years) in Export Market Shares || -6% || -11.6 || -7.7 || -8.1 || -6.6 || -5.0 || -1.3 || 0.0 || -8.6 || -15.1 || -11.9 || -11.6 % Change (3 years) in Nominal ULC || +9% & +12% || 9.3 || 11.1 || 5.9 || -0.3 || -0.5 || -1.2 || 3.9 || 6.9 || 12.1 || 5.1 || 1.2 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 5.6 || 4.7 || 4.9 || 8.6 || 7.8 || 11.3 || 11.2 || -1.8 || 0.6 || 6.7 || 1.0 Private Sector Credit Flow as % of GDP || 15% || 14.8 || -4.2 || 0.4 || 7.5 || 14.9 || 10.7 || 23.3 || 20.3 || 4.8 || 2.8 || 6.3 Private Sector Debt as % of GDP || 160% || 203 || 211 || 207 || 184 || 192 || 193 || 210 || 237 || 249 || 233 || 232 General Government Debt as % of GDP || 60% || 55 || 53 || 52 || 50 || 50 || 45 || 40 || 39 || 43 || 40 || 38 Unemployment rate - 3 year average || 10% || 6.1 || 5.8 || 6.1 || 6.6 || 7.2 || 7.4 || 7.0 || 6.5 || 6.9 || 7.6 || 8.1 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 5.9 || -3.3 || 10.4 || 11.9 || 14.9 || 12.0 || 8.1 || 10.8 || 6.1 || 2.1 || 3.6 Table 38: The MIP scoreboard for the United Kingdom || United Kingdom || Thresholds || 2001 || 2002 || 2003 || 2004 || 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 External imbalances and competitiveness || 3 year average of Current Account Balance as a percent of GDP || -4/+6% || -2.4 || -2.1 || -1.8 || -1.8 || -2.1 || -2.7 || -2.8 || -2.4 || -1.8 || -2.1 || -2.2 Net International Investment Position as % of GDP || -35% || -13.4 || -11.2 || -10.3 || -18.4 || -20.0 || -28.9 || -22.9 || -7.0 || -21.0 || -23.8 || -17.3 % Change (3 years) of Real Effective Exchange Rate (REER) with HICP deflators || ±5% & ±11% || -2.3 || -2.0 || -7.6 || -1.6 || -2.9 || 3.1 || 1.2 || -10.4 || -19.9 || -19.7 || -7.1 % Change (5 years) in Export Market Shares || -6% || -2.4 || -6.6 || -11.2 || -12.1 || -10.7 || -11.0 || -18.6 || -24.2 || -21.1 || -23.1 || -24.2 % Change (3 years) in Nominal ULC || +9% & +12% || 8.6 || 7.2 || 6.5 || 5.4 || 5.9 || 7.0 || 7.2 || 8.5 || 11.1 || 10.0 || 8.1 Internal imbalances || % y-o-y change in deflated House Prices || +6% || 7.1 || 15.3 || 13.8 || 9.8 || 2.9 || 3.5 || 8.2 || -4.2 || -9.1 || 3.5 || -5.4 Private Sector Credit Flow as % of GDP || 15% || 15.8 || 18.5 || 17.7 || 18.6 || 18.0 || 21.0 || 19.6 || 11.9 || -12.1 || 1.9 || 1.0 Private Sector Debt as % of GDP || 160% || 157 || 168 || 173 || 183 || 194 || 206 || 206 || 221 || 220 || 209 || 205 General Government Debt as % of GDP || 60% || 38 || 38 || 39 || 41 || 42 || 43 || 44 || 52 || 68 || 79 || 85 Unemployment rate - 3 year average || 10% || 5.4 || 5.2 || 5.0 || 4.9 || 4.8 || 5.0 || 5.2 || 5.4 || 6.2 || 7.0 || 7.8 % y-o-y change in Total Financial Sector Liabilities, non-consolidated || 16.5% || 5.1 || -0.6 || 13.8 || 30.0 || 19.1 || 11.4 || 16.7 || 47.5 || -17.3 || 7.9 || 8.5 Table 39: Additional indicators used in the economic reading of the MIP scoreboard, 2001 Year 2001 || % y-o-y growth of real GDP || Gross fixed capital formation as % GDP || Gross domestic expenditure on R&D as % GDP || Current Account balance as % of GDP, BoP data || Net lending / borrowing as % GDP, BoP data || Net external debt as % GDP || FDI Inflows as % GDP || Net Trade Balance of energy products as % GDP || % Change (3 years) in REER vs. EA (17) || % y-o-y change in Export Market Shares, goods and services volumes || % y-o-y growth of Labour Productivity || % y-o-y growth of Employ- ment || % Change (10 years) in Nominal ULC || % Change (10 years) in Effective ULC vs. EA (17) || % Change (3 years) in Nominal house Prices || Residential Construction as % GDP || Private Sector Debt as % GDP, consolidated data || Financial sector leverage (debt to equity) BE || 0.8 || 20.9 || 2.1 || 3.4 || na || na || na || -3.1 || 0.6 || 1.8 || -0.6 || 1.4 || na || na || 18.4 || na || 111 || 267 BG || 4.2 || 18.3 || 0.5 || -5.5 || -5.5 || 12.8 || 5.8 || na || : : : || 9.3 || 4.9 || -0.8 || na || : : : || na || 1.8 || 29 || 738 CZ || 3.1 || 28.4 || 1.2 || -5.1 || -5.1 || na || 8.8 || -3.6 || 11.4 || 3.4 || -0.2 || na || na || 3.3 || 53 || 1201 DK || 0.7 || 19.8 || 2.4 || 3.1 || 3.1 || 42.1 || 6.9 || 0.6 || 2.9 || -0.2 || 0.8 || na || 20.3 || 4.3 || 177 || 371 DE || 1.5 || 20.1 || 2.5 || 0.0 || 0.0 || 20.9 || 1.4 || -2.0 || -2.6 || 6.2 || 1.2 || 0.3 || na || na || na || 6.2 || 128 || 441 EE || 6.3 || 26.4 || 0.7 || -5.2 || -4.9 || na || 8.7 || -3.1 || 6.7 || -2.6 || 5.4 || 0.8 || na || na || na || 2.1 || 62 || 251 IE || 5.3 || 22.4 || 1.1 || -0.6 || 0.0 || -210.6 || 9.2 || na || 5.2 || 8.0 || 2.1 || 3.1 || na || na || 53.4 || 8.6 || 123 || 134 EL || 4.2 || 22.5 || 0.6 || -7.2 || -5.6 || na || 1.2 || na || -0.9 || -4.2 || 4.1 || 0.1 || na || na || na || 6.8 || 65 || 300 ES || 3.7 || 26.0 || 0.9 || -3.9 || -3.2 || na || 4.7 || -2.2 || 2.7 || 3.9 || 0.3 || 3.2 || na || na || 28.4 || 9.4 || 114 || 307 FR || 1.8 || 18.9 || 2.2 || 1.7 || 1.7 || na || na || -1.5 || -2.0 || 2.4 || 0.0 || 1.4 || na || na || 25.7 || 5.2 || 107 || 255 IT || 1.9 || 20.5 || 1.1 || 0.3 || 0.4 || 23.3 || 1.3 || -1.5 || 0.6 || 2.5 || 0.1 || 1.5 || na || na || 23.7 || 4.8 || 84 || 208 CY || 4.0 || 16.9 || 0.3 || -3.3 || -3.2 || na || 1.7 || na || 2.0 || 5.9 || 1.8 || 2.1 || na || na || na || 5.3 || 164 || 602 LV || 7.3 || 25.3 || 0.4 || -7.7 || -7.2 || 18.6 || 1.6 || na || : : || 7.2 || 6.1 || 1.6 || na || : : || na || 2.3 || 48 || 838 LT || 6.7 || 20.3 || 0.7 || -4.7 || -4.7 || 17.5 || 3.6 || -1.9 || 21.0 || 10.9 || -3.3 || na || na || 1.6 || 29 || 619 LU || 2.5 || 22.6 || na || 8.8 || 8.4 || na || na || na || 1.8 || 4.2 || -2.9 || 2.5 || na || na || 30.1 || 2.5 || na || na HU || 3.7 || 23.6 || 0.9 || -6.1 || -5.5 || 23.9 || 7.5 || -4.2 || : || 7.8 || 3.9 || 0.3 || na || : || na || 4.4 || 63 || 660 MT || -1.5 || 20.1 || na || -3.8 || -3.7 || -14.5 || 6.4 || -2.3 || 9.6 || -5.3 || -3.2 || 1.8 || na || na || na || 4.5 || na || na NL || 1.9 || 21.1 || 1.9 || 2.6 || 1.8 || 14.2 || 13.0 || na || 4.3 || 1.9 || 0.4 || 1.9 || na || na || 52.7 || 6.1 || 188 || 204 AT || 0.9 || 23.5 || 2.1 || -0.8 || -1.1 || 33.5 || 3.1 || -1.9 || -0.7 || 5.9 || 1.0 || 0.7 || na || na || na || 5.0 || 127 || 413 PL || 1.2 || 20.7 || 0.6 || -3.1 || -3.1 || 12.5 || 3.0 || -1.6 || : || 2.9 || 3.5 || -2.2 || na || : || na || 2.8 || 37 || 532 PT || 2.0 || 27.0 || 0.8 || -10.3 || -9.4 || 37.2 || 5.2 || na || 3.4 || 3.4 || 0.2 || 1.8 || na || na || 23.8 || 7.8 || 166 || 372 RO || 5.7 || 20.5 || 0.4 || -5.5 || -5.3 || 7.1 || 2.9 || -3.1 || : || 11.7 || 6.8 || -0.9 || na || : || na || 1.1 || 27 || 674 SI || 2.9 || 25.0 || 1.5 || 0.2 || 0.2 || na || 1.8 || -3.6 || 0.8 || 6.1 || 2.4 || 0.6 || na || na || na || 3.4 || 59 || 501 SK || 3.5 || 28.5 || 0.6 || -8.3 || -7.9 || na || 7.0 || -6.7 || 13.9 || 6.7 || 2.9 || 1.0 || na || na || na || 3.5 || 49 || 2178 FI || 2.3 || 20.2 || 3.3 || 8.4 || 8.4 || 6.3 || 3.0 || -1.9 || 1.0 || 1.5 || 0.9 || 1.4 || na || na || 9.7 || 5.6 || 97 || 356 SE || 1.3 || 17.9 || 4.1 || 5.0 || 4.9 || 54.5 || 4.8 || -1.3 || : : || 1.4 || -0.8 || 2.1 || na || : : || 31.2 || 2.3 || 152 || 228 UK || 2.9 || 16.8 || 1.8 || -2.1 || -1.9 || 27.6 || 3.7 || 0.5 || 2.8 || 2.0 || 0.8 || na || 37.8 || 2.7 || na || 486 Table 40: Additional indicators used in the economic reading of the MIP scoreboard, 2002 Year 2002 || % y-o-y growth of real GDP || Gross fixed capital formation as % GDP || Gross domestic expenditure on R&D as % GDP || Current Account balance as % of GDP, BoP data || Net lending / borrowing as % GDP, BoP data || Net external debt as % GDP || FDI Inflows as % GDP || Net Trade Balance of energy products as % GDP || % Change (3 years) in REER vs. EA (17) || % y-o-y change in Export Market Shares, goods and services volumes || % y-o-y growth of Labour Productivity || % y-o-y growth of Employ- ment || % Change (10 years) in Nominal ULC || % Change (10 years) in Effective ULC vs. EA (17) || % Change (3 years) in Nominal house Prices || Residential Construction as % GDP || Private Sector Debt as % GDP, consolidated data || Financial sector leverage (debt to equity) BE || 1.4 || 19.1 || 1.9 || 4.5 || 4.2 || na || 6.4 || -2.5 || -0.3 || 4.4 || 1.5 || -0.1 || 17.1 || na || 17.6 || na || 110 || 345 BG || 4.7 || 18.3 || 0.5 || -2.4 || -2.4 || 9.5 || 5.8 || 0.5 || : : : || 6.7 || 4.4 || 0.2 || na || : : : || na || 2.1 || 33 || 895 CZ || 2.1 || 27.5 || 1.2 || -5.3 || -5.3 || na || 10.8 || -2.5 || -1.4 || 1.5 || 0.7 || na || na || 3.2 || 55 || 1387 DK || 0.5 || 19.6 || 2.5 || 2.5 || 2.6 || 31.1 || 3.8 || 0.8 || 0.3 || 0.4 || 0.0 || 18.4 || 16.8 || 4.3 || 176 || 441 DE || 0.0 || 18.4 || 2.5 || 2.0 || 2.0 || 21.6 || 2.7 || -1.7 || -3.3 || 0.4 || 0.6 || -0.6 || 7.7 || na || na || 5.8 || 127 || 574 EE || 6.6 || 29.7 || 0.7 || -10.6 || -10.1 || na || 3.9 || -2.5 || 6.0 || 0.1 || 5.1 || 1.3 || na || na || na || 2.5 || 68 || 227 IE || 5.6 || 21.6 || 1.1 || -1.0 || -0.6 || -210.2 || 23.8 || na || 7.3 || 1.0 || 4.0 || 1.6 || 12.7 || na || 39.5 || 8.8 || 141 || 147 EL || 3.4 || 23.4 || na || -6.5 || -5.5 || na || 0.0 || -2.3 || -1.2 || -18.8 || 1.2 || 2.3 || 95.3 || na || na || 7.4 || 68 || 398 ES || 2.7 || 26.3 || 1.0 || -3.3 || -2.2 || 25.7 || 5.7 || -2.1 || 2.9 || -2.0 || 0.4 || 2.5 || 30.1 || na || 38.1 || 9.9 || 121 || 380 FR || 0.9 || 18.2 || 2.2 || 1.0 || 1.0 || na || na || -1.4 || -1.8 || -2.3 || 0.1 || 0.3 || 11.6 || na || 27.1 || 5.3 || 106 || 277 IT || 0.5 || 21.1 || 1.1 || -0.4 || -0.4 || 27.6 || 1.2 || -1.4 || 0.7 || -6.9 || -0.8 || 2.9 || 19.2 || na || 28.4 || 4.9 || 87 || 272 CY || 2.1 || 18.2 || 0.3 || -3.8 || -3.6 || na || 10.1 || -3.6 || 3.1 || -8.7 || 0.0 || 2.1 || na || na || na || 5.7 || 173 || 676 LV || 7.2 || 24.2 || 0.4 || -6.7 || -6.5 || 20.9 || 2.8 || -3.6 || : : || 1.6 || 4.2 || 2.9 || 351.1 || : : || na || 1.9 || 51 || 824 LT || 6.8 || 20.4 || 0.7 || -5.1 || -4.7 || 13.2 || 5.1 || -1.8 || 14.8 || 3.1 || 4.0 || na || 22.4 || 1.3 || 30 || 612 LU || 4.1 || 22.5 || na || 10.5 || 10.1 || -2413.1 || 510.1 || na || 1.6 || -1.8 || 0.8 || 2.0 || 24.4 || na || 32.6 || 2.3 || na || na HU || 4.5 || 23.4 || 1.0 || -7.0 || -6.7 || 22.8 || 4.5 || -2.4 || : || 0.0 || 4.6 || 0.1 || na || : || na || 4.8 || 66 || 536 MT || 2.8 || 16.0 || 0.3 || 2.4 || 2.6 || -28.3 || -10.3 || -2.8 || 5.6 || 2.8 || 2.2 || 0.6 || 33.6 || na || na || 4.7 || na || na NL || 0.1 || 20.0 || 1.9 || 2.6 || 2.5 || 26.0 || 5.7 || -0.4 || 5.0 || -3.3 || 0.3 || 0.3 || 23.8 || na || 39.8 || 5.8 || 192 || 250 AT || 1.7 || 22.0 || 2.1 || 2.7 || 2.5 || 26.6 || 0.2 || -1.8 || -0.7 || 0.0 || 2.2 || -0.1 || 6.0 || na || na || 4.6 || 127 || 402 PL || 1.4 || 18.7 || 0.6 || -2.8 || -2.8 || 16.9 || 2.1 || -1.5 || : || 1.0 || 4.6 || -3.0 || 258.8 || : || na || 2.8 || 45 || 425 PT || 0.8 || 25.6 || 0.7 || -8.2 || -6.8 || 40.2 || 1.4 || na || 3.8 || 6.7 || 0.2 || 0.5 || 48.6 || na || 14.2 || 7.4 || 169 || 397 RO || 5.1 || 21.3 || 0.4 || -3.3 || -3.1 || 10.4 || 2.5 || -1.9 || : || 13.2 || 17.0 || -11.8 || 16977.9 || : || na || 1.5 || 31 || 692 SI || 3.8 || 23.3 || 1.5 || 1.0 || 0.3 || na || 7.0 || -2.8 || 2.5 || 2.9 || 2.2 || 1.6 || na || na || na || 3.1 || 60 || 516 SK || 4.6 || 27.4 || 0.6 || -7.9 || -7.4 || na || 16.4 || -5.5 || 20.5 || 1.4 || 4.5 || 0.2 || na || na || na || 3.3 || 53 || 1954 FI || 1.8 || 18.7 || 3.4 || 8.5 || 8.5 || 4.0 || 6.0 || -1.7 || 0.6 || -0.5 || 0.9 || 0.9 || 1.9 || na || 8.6 || 5.3 || 105 || 370 SE || 2.5 || 17.4 || na || 4.7 || 4.7 || 50.5 || 4.9 || -1.4 || : : || -3.9 || 2.4 || 0.0 || 19.2 || : : || 27.6 || 2.5 || 164 || 286 UK || 2.4 || 16.9 || 1.8 || -1.7 || -1.6 || 35.2 || 1.6 || na || -1.9 || 1.7 || 0.8 || 19.8 || 44.4 || 3.1 || na || 615 Table 41: Additional indicators used in the economic reading of the MIP scoreboard, 2003 Year 2003 || % y-o-y growth of real GDP || Gross fixed capital formation as % GDP || Gross domestic expenditure on R&D as % GDP || Current Account balance as % of GDP, BoP data || Net lending / borrowing as % GDP, BoP data || Net external debt as % GDP || FDI Inflows as % GDP || Net Trade Balance of energy products as % GDP || % Change (3 years) in REER vs. EA (17) || % y-o-y change in Export Market Shares, goods and services volumes || % y-o-y growth of Labour Productivity || % y-o-y growth of Employ- ment || % Change (10 years) in Nominal ULC || % Change (10 years) in Effective ULC vs. EA (17) || % Change (3 years) in Nominal house Prices || Residential Construction as % GDP || Private Sector Debt as % GDP, consolidated data || Financial sector leverage (debt to equity) BE || 0.8 || 18.9 || 1.9 || 3.4 || 3.1 || -34.8 || 10.7 || -2.2 || -1.3 || -4.8 || 0.9 || 0.0 || 12.7 || na || 19.2 || na || 110 || 345 BG || 5.5 || 19.0 || 0.5 || -5.3 || -5.3 || 8.5 || 6.8 || na || : : : || 14.1 || 2.5 || 3.0 || na || : : : || na || 2.1 || 42 || 540 CZ || 3.8 || 26.8 || 1.2 || -6.0 || -6.0 || na || 2.2 || na || 2.5 || 4.6 || -0.6 || 103.5 || na || 3.2 || 49 || 678 DK || 0.4 || 19.3 || 2.6 || 3.4 || 3.4 || 21.2 || 1.3 || 0.9 || -6.1 || 1.5 || -1.1 || 20.0 || 13.1 || 4.9 || 178 || 364 DE || -0.4 || 17.8 || 2.5 || 1.9 || 1.9 || 16.7 || 1.3 || -1.9 || -3.5 || -2.6 || 0.5 || -0.9 || 4.8 || na || na || 5.6 || 127 || 502 EE || 7.8 || 31.6 || 0.8 || -11.3 || -10.6 || 13.0 || 9.4 || -2.2 || 3.9 || 24.0 || 6.3 || 1.5 || 218.1 || na || na || 3.1 || 75 || 284 IE || 3.9 || 22.4 || 1.2 || 0.0 || 0.1 || -214.0 || 14.3 || na || 6.2 || -4.4 || 2.0 || 1.9 || 12.8 || na || 38.7 || 10.5 || 130 || 159 EL || 5.9 || 24.2 || 0.6 || -6.5 || -5.8 || 49.8 || 0.7 || na || 3.0 || -2.2 || 4.7 || 1.2 || 76.2 || na || 37.3 || 7.7 || 72 || 331 ES || 3.1 || 27.2 || 1.1 || -3.5 || -2.5 || 29.3 || 2.9 || -1.8 || 2.6 || -1.5 || 0.5 || 3.2 || 27.0 || na || 49.6 || 10.7 || 132 || 365 FR || 0.9 || 18.3 || 2.2 || 0.4 || 0.0 || na || na || -1.4 || -1.2 || -6.4 || 0.7 || -0.2 || 11.7 || na || 30.5 || 5.4 || 106 || 258 IT || 0.0 || 20.5 || 1.1 || -0.8 || -0.6 || 28.8 || 1.1 || -1.3 || 1.1 || -6.4 || -0.7 || 2.7 || 21.9 || na || 30.8 || 5.1 || 91 || 255 CY || 1.9 || 17.8 || 0.4 || -2.3 || -2.0 || 0.6 || 6.8 || -2.3 || -0.2 || -5.6 || -1.9 || 3.8 || na || na || na || 6.5 || 169 || 767 LV || 7.6 || 24.7 || 0.4 || -8.2 || -7.6 || 24.2 || 2.7 || -4.1 || : : || 0.1 || 5.5 || 2.0 || 89.7 || : : || 122.5 || 1.4 || 60 || 952 LT || 10.3 || 21.2 || 0.7 || -6.7 || -6.4 || 12.9 || 1.0 || na || 3.3 || 7.9 || 2.3 || 300.4 || 60.0 || 1.4 || 35 || 823 LU || 1.7 || 22.1 || 1.7 || 8.1 || 7.7 || -2359.3 || 306.1 || na || 0.5 || 1.7 || -0.1 || 0.9 || 22.0 || na || 37.4 || 2.6 || na || na HU || 3.9 || 22.4 || 0.9 || -8.0 || -8.1 || 29.0 || 2.6 || -2.4 || : || 1.0 || 3.9 || 1.3 || na || : || na || 5.0 || 78 || 528 MT || 0.1 || 19.3 || 0.3 || -3.0 || -2.7 || -81.0 || 18.9 || na || -4.7 || -7.7 || -0.9 || 1.0 || 33.3 || na || 29.4 || 4.7 || na || na NL || 0.3 || 19.5 || 1.9 || 5.5 || 5.0 || 19.6 || 3.9 || na || 5.1 || -1.3 || 1.5 || -0.6 || 24.7 || na || 22.5 || 5.7 || 200 || 259 AT || 0.9 || 22.8 || 2.2 || 1.7 || 1.7 || 23.9 || 2.8 || -2.0 || -1.2 || -3.7 || 0.4 || 0.6 || 3.7 || na || na || 4.4 || 129 || 375 PL || 3.9 || 18.2 || 0.5 || -2.5 || -2.5 || 21.6 || 2.1 || -1.8 || : || 9.1 || 5.1 || -1.2 || 179.1 || : || na || 2.7 || 47 || 415 PT || -0.9 || 23.6 || 0.7 || -6.4 || -4.6 || 37.7 || 4.4 || na || 4.4 || 3.6 || -0.3 || -0.4 || 45.8 || na || 7.2 || 6.2 || 176 || 338 RO || 5.2 || 21.5 || 0.4 || -5.9 || -22.4 || 13.9 || 14.1 || -2.5 || : || 4.2 || 5.3 || -0.5 || 6985.7 || : || na || 1.7 || 33 || 613 SI || 2.9 || 24.1 || 1.3 || -0.8 || -1.4 || na || 1.0 || -3.1 || 2.3 || -2.0 || 3.2 || -0.3 || na || na || na || 2.9 || 64 || 494 SK || 4.8 || 24.7 || 0.6 || -5.9 || -5.6 || na || 6.5 || -4.8 || 16.0 || 10.8 || 3.7 || 1.8 || na || na || na || 3.0 || 49 || 1518 FI || 2.0 || 18.9 || 3.4 || 4.8 || 4.9 || -6.1 || 2.0 || -1.8 || -0.8 || -7.0 || 2.0 || 0.1 || 7.7 || na || 11.1 || 5.8 || 110 || 329 SE || 2.3 || 16.8 || 3.8 || 6.9 || 6.9 || 53.7 || 1.7 || -1.5 || : : || -1.2 || 2.9 || -0.6 || 17.6 || : : || 22.3 || 2.6 || 167 || 235 UK || 3.8 || 16.4 || 1.8 || -1.6 || -1.5 || 34.3 || 1.5 || 0.4 || -3.2 || 2.8 || 0.9 || 21.2 || 45.3 || 3.2 || na || 597 Tabl