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
Date: 2012-11-28
Institutions: European Commission
Subjects: EU Member State, economic disparity, economic recession, euro area, macroeconomics, public debt, structural adjustment

EUROPEAN 
COMMISSION 

Brussels, 28.11.2012  
SWD(2012) 421 final 

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 

{COM(2012) 751 final} 
{SWD(2012) 420 final}

EN 

   EN 

 
 
 
 
  
 
 
 
 
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 

1 

 
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).

2 

 
 
 
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 

Thresholds 
BE 

-4/+6% 
4.2 

-35% 
na 

±5% & ±11%
-3.9 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-5.2 

-4.0 

2.2 

-1.0 

-4.9 

-0.3 

-6.2 

-3.6 

1.8 

0.4 

-3.5 

-7.1 

-7.1 

10.1 

-7.5 

-6.4 

2.8 

-1.1 

-5.5 

-9.8 

-4.4 

-1.9 

-5.8 

7.2 

4.4 

-2.4 

-27.1 

-10.0 

-16.6 

8.7 

-48.3 

-15.2 

-46.5 

-35.6 

-2.0 

-5.8 

na 

-37.6 

-34.4 

na 

-66.3 

13.6 

-13.4 

-25.6 

-29.5 

-47.5 

-25.0 

-2.2 

-18.4 

-82.2 

-25.0 

-13.4 

11.5 

6.5 

-3.5 

-8.8 

2.6 

-2.2 

-5.2 

-2.1 

-7.7 

-5.7 

-3.5 

13.3 

16.0 

-1.6 

12.2 

-0.6 

0.0 

-5.0 

20.0 

-0.3 

-1.1 

-2.5 

9.6 

-4.7 

-12.0 

-2.3 

% 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  

-6% 
na 

0.4 

17.1 

-1.9 

-5.3 

48.7 

64.0 

72.5 

2.7 

-10.5 

-18.5 

-2.1 

14.9 

25.6 

26.0 

65.0 

-4.0 

-8.1 

-3.8 

20.3 

-6.5 

21.5 

-6.2 

21.4 

-4.9 

-11.6 

-2.4 

+9%  & +12%
6.2 

+6%  
2.9 

15% 
15.7 

160% 
180 

9.5 

10.0 

7.2 

1.5 

11.3 

8.0 

na 

8.1 

4.8 

4.8 

6.2 

-1.4 

-17.0 

10.0 

31.1 

na 

9.4 

0.4 

16.4 

11.0 

na 

22.2 

16.8 

5.0 

9.3 

8.6 

na 

na 

3.4 

na 

na 

3.7 

11.4 

6.2 

5.8 

5.4 

na 

-1.0 

21.0 

11.8 

na 

2.7 

6.4 

na 

na 

1.9 

na 

na 

na 

-3.7 

5.6 

7.1 

3 

15.7 

-3.2 

20.2 

4.8 

20.0 

na 

10.9 

18.7 

10.4 

8.4 

11.9 

8.9 

2.1 

na 

10.3 

na 

13.7 

7.9 

3.9 

21.9 

7.0 

na 

4.3 

2.1 

14.8 

15.8 

48 

60 

177 

133 

81 

150 

65 

133 

124 

87 

164 

50 

29 

na 

67 

na 

191 

127 

43 

184 

30 

64 

49 

125 

203 

157 

60% 
107 

66 

24 

50 

59 

5 

35 

104 

56 

57 

108 

61 

14 

23 

6 

53 

61 

51 

67 

38 

54 

26 

27 

49 

43 

55 

38 

10% 
7.3 

16.5% 
4.1 

na 

8.4 

4.7 

8.2 

12.5 

4.6 

11.3 

11.8 

9.2 

10.0 

na 

13.6 

16.1 

2.2 

6.2 

na 

3.0 

3.7 

15.9 

4.7 

6.5 

6.8 

18.3 

9.7 

6.1 

5.4 

6.6 

0.8 

6.5 

3.0 

13.3 

na 

0.8 

6.9 

5.2 

-3.0 

8.0 

20.2 

17.8 

na 

6.5 

na 

8.1 

5.3 

12.5 

6.2 

53.1 

na 

9.3 

8.3 

5.9 

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 

Thresholds 
BE 

-4/+6% 
4.0 

-35% 
36.6 

±5% & ±11%
-1.9 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

-4.4 

-5.0 

2.3 

0.1 

-7.1 

-0.7 

-7.2 

-3.7 

1.3 

-0.1 

-4.1 

-6.4 

-5.2 

10.8 

-7.2 

-4.6 

2.4 

0.4 

-4.0 

-9.6 

-4.1 

-0.5 

-6.5 

8.2 

4.6 

-25.3 

-15.5 

-16.4 

5.1 

-54.1 

-17.9 

-52.9 

-41.6 

3.0 

-12.4 

10.6 

-41.3 

-32.6 

100.4 

-65.2 

34.6 

-24.3 

-20.1 

-34.9 

-54.6 

-21.2 

0.1 

-16.2 

-36.8 

-22.0 

15.4 

20.6 

-1.1 

-5.8 

4.0 

4.5 

-3.5 

1.0 

-3.9 

-2.0 

0.8 

5.1 

15.2 

0.1 

20.5 

1.8 

3.2 

-3.2 

19.0 

2.3 

14.6 

0.2 

15.8 

-1.4 

-7.6 

% 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 

-6% 
na 

11.7 

33.0 

12.6 

4.2 

23.7 

60.0 

55.0 

6.9 

-7.8 

-14.2 

1.7 

13.9 

23.3 

26.7 

43.0 

9.4 

-3.8 

6.6 

22.9 

1.4 

39.9 

5.4 

25.7 

-0.6 

-7.7 

+9%  & +12%
7.1 

+6%  
5.2 

15% 
8.9 

160% 
180 

60% 
103 

11.3 

14.3 

8.4 

1.6 

11.1 

8.8 

na 

9.4 

7.0 

7.0 

9.6 

-4.9 

-16.6 

11.6 

34.2 

na 

13.2 

0.6 

8.9 

11.9 

138.7 

24.0 

17.1 

5.1 

11.1 

na 

na 

1.9 

na 

na 

5.1 

11.0 

12.6 

7.1 

6.5 

na 

71.7 

9.9 

7.9 

na 

6.4 

3.3 

na 

na 

-2.1 

na 

na 

na 

3.7 

4.7 

4 

5.5 

4.3 

12.7 

4.4 

22.1 

24.0 

7.7 

16.6 

4.7 

6.4 

14.7 

9.8 

3.7 

na 

15.3 

na 

12.2 

5.2 

0.9 

12.1 

8.8 

8.6 

8.0 

5.4 

-4.2 

48 

61 

176 

136 

90 

161 

68 

140 

124 

90 

174 

54 

30 

na 

71 

na 

195 

127 

49 

188 

34 

67 

53 

127 

211 

52 

27 

50 

61 

6 

32 

102 

53 

59 

105 

65 

14 

22 

6 

56 

59 

51 

66 

42 

57 

25 

28 

43 

42 

53 

10% 
7.0 

18.0 

8.0 

4.5 

8.2 

12.2 

4.2 

10.7 

11.2 

8.5 

9.2 

4.1 

13.1 

15.9 

2.2 

5.8 

7.3 

2.9 

3.8 

18.1 

4.9 

6.9 

6.4 

19.1 

9.3 

5.8 

% y-o-y 
Change in 
Total Financial 
Sector 
Liabilities, 
non-
consolidated  

16.5% 
-3.9 

7.9 

8.6 

6.3 

-0.5 

24.5 

8.8 

0.2 

4.6 

1.6 

3.9 

-4.6 

24.7 

15.9 

na 

5.7 

na 

0.3 

0.7 

1.7 

2.6 

42.8 

24.3 

0.4 

3.3 

-3.3 

 
 
  
UK 

-2.1 

-11.2 

-2.0 

-6.6 

7.2 

15.3 

18.5 

168 

38 

5.2 

-0.6 

5 

 
 
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 

Thresholds 
BE 

-4/+6% 
3.8 

-35% 
36.6 

±5% & ±11%
5.2 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-4.4 

-5.5 

3.0 

1.3 

-9.0 

-0.5 

-6.8 

-3.6 

1.1 

-0.3 

-3.1 

-7.5 

-5.5 

9.1 

-7.0 

-1.5 

3.6 

1.2 

-2.8 

-8.3 

-4.9 

0.1 

-7.4 

7.2 

5.5 

-1.8 

-26.3 

-19.6 

-12.1 

6.6 

-65.9 

-20.0 

-58.9 

-45.2 

-4.2 

-13.6 

4.3 

-43.8 

-33.1 

140.3 

-78.1 

39.6 

-1.7 

-14.3 

-41.7 

-57.5 

-27.1 

-5.9 

-24.5 

-26.4 

-20.0 

-10.3 

14.3 

14.9 

8.1 

5.0 

9.3 

17.5 

9.0 

8.8 

6.5 

8.8 

8.1 

-7.1 

6.7 

4.5 

20.1 

5.9 

10.9 

3.1 

-4.6 

9.6 

-1.6 

5.3 

17.8 

7.7 

0.3 

-7.6 

% 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 

-6% 
na 

30.2 

23.1 

10.8 

2.4 

19.4 

26.6 

51.0 

5.8 

-13.1 

-13.4 

-0.7 

10.1 

37.3 

17.2 

43.0 

-3.4 

-2.3 

2.6 

21.7 

-2.6 

58.8 

3.4 

41.2 

-6.4 

-8.1 

-11.2 

+9%  & +12%
7.8 

+6%  
5.4 

15% 
20.2 

160% 
194 

11.5 

14.8 

10.3 

2.0 

13.4 

11.7 

11.4 

9.3 

7.6 

10.7 

17.1 

2.1 

-0.8 

10.4 

27.4 

16.5 

12.8 

2.6 

0.7 

11.3 

75.2 

20.6 

11.3 

5.3 

5.9 

6.5 

na 

na 

1.9 

na 

na 

11.7 

2.0 

14.0 

9.6 

7.4 

na 

21.6 

19.9 

8.8 

na 

12.4 

1.3 

na 

na 

-1.7 

na 

na 

na 

7.0 

4.9 

13.8 

6 

14.3 

-3.5 

5.4 

0.3 

21.4 

9.5 

10.7 

17.1 

3.8 

7.0 

6.8 

14.3 

7.8 

na 

18.3 

na 

10.2 

6.8 

2.4 

9.2 

8.0 

8.7 

3.9 

8.9 

0.4 

17.7 

58 

56 

178 

136 

98 

154 

72 

148 

124 

93 

170 

62 

36 

na 

85 

na 

203 

129 

48 

193 

36 

71 

49 

134 

207 

173 

60% 
98 

44 

29 

47 

64 

6 

31 

97 

49 

63 

104 

70 

15 

21 

6 

59 

68 

52 

65 

47 

59 

22 

27 

42 

45 

52 

39 

10% 
7.4 

17.2 

7.7 

4.8 

8.8 

11.0 

4.3 

10.2 

11.1 

8.5 

8.6 

4.0 

12.4 

14.5 

2.8 

5.6 

7.6 

3.3 

4.0 

19.3 

5.8 

6.9 

6.4 

18.7 

9.1 

6.1 

5.0 

% y-o-y 
Change in 
Total Financial 
Sector 
Liabilities, 
non-
consolidated  

16.5% 
9.3 

22.1 

5.8 

9.0 

3.5 

13.4 

25.4 

8.6 

15.5 

6.4 

11.6 

8.9 

23.6 

31.6 

na 

19.8 

na 

9.4 

6.6 

17.1 

9.6 

28.0 

12.6 

6.8 

13.3 

10.4 

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 

Thresholds 
BE 

-4/+6% 
3.7 

-35% 
28.4 

±5% & ±11%
5.3 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-4.7 

-5.4 

3.0 

2.9 

-11.1 

-0.5 

-6.3 

-4.0 

0.7 

-0.5 

-3.7 

-9.3 

-6.5 

10.2 

-7.8 

-2.2 

5.3 

2.2 

-3.5 

-7.7 

-5.9 

-0.8 

-7.2 

6.5 

6.1 

-1.8 

-30.1 

-28.2 

-5.3 

10.7 

-86.5 

-17.9 

-67.0 

-51.9 

-4.7 

-15.8 

14.1 

-52.3 

-34.4 

113.1 

-85.4 

40.1 

3.7 

-17.3 

-41.6 

-64.1 

-26.4 

-7.8 

-31.0 

-10.0 

-25.0 

-18.4 

10.9 

8.5 

6.8 

6.4 

6.9 

17.6 

9.5 

9.7 

8.1 

9.9 

8.1 

-6.9 

4.2 

5.8 

17.7 

7.4 

7.2 

3.8 

-16.2 

8.2 

-1.4 

4.6 

26.8 

5.7 

10.3 

-1.6 

% 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 

-6% 
na 

51.5 

44.1 

-1.2 

5.8 

36.5 

12.6 

21.6 

2.5 

-12.3 

-7.4 

-6.1 

29.8 

72.8 

16.4 

33.7 

-15.2 

-2.4 

5.2 

55.1 

-2.7 

71.7 

16.4 

61.5 

-1.9 

-6.6 

-12.1 

+9%  & +12%
2.7 

+6%  
6.1 

15% 
3.9 

160% 
188 

5.2 

12.7 

6.0 

1.1 

15.1 

10.2 

14.3 

8.5 

6.2 

9.8 

17.1 

10.5 

6.2 

4.8 

19.8 

8.9 

7.6 

1.1 

-7.5 

8.2 

24.5 

14.6 

11.2 

1.5 

-0.3 

5.4 

na 

na 

7.6 

na 

na 

9.8 

-0.5 

13.4 

12.9 

7.1 

na 

-3.4 

15.0 

11.3 

na 

17.7 

3.2 

na 

na 

-1.9 

na 

7.3 

na 

7.7 

8.6 

9.8 

7 

19.5 

5.8 

19.3 

-2.0 

27.1 

25.3 

11.9 

21.8 

6.8 

8.3 

10.8 

18.1 

10.0 

na 

12.8 

na 

7.0 

4.0 

2.1 

9.9 

9.2 

9.6 

3.1 

9.2 

7.5 

18.6 

74 

57 

186 

131 

111 

171 

79 

160 

127 

98 

168 

75 

42 

na 

86 

178 

205 

128 

43 

193 

36 

75 

49 

137 

184 

183 

60% 
94 

37 

29 

45 

66 

5 

30 

99 

46 

65 

103 

71 

15 

19 

6 

60 

72 

52 

65 

46 

62 

19 

27 

42 

44 

50 

41 

10% 
8.0 

14.7 

7.8 

5.2 

9.7 

10.0 

4.5 

10.2 

11.2 

8.8 

8.3 

4.2 

11.8 

12.5 

3.8 

5.8 

7.5 

4.1 

4.5 

19.6 

6.8 

7.4 

6.5 

18.3 

9.0 

6.6 

4.9 

% y-o-y 
Change in 
Total Financial 
Sector 
Liabilities, 
non-
consolidated  

16.5% 
15.3 

36.6 

5.8 

10.9 

3.6 

34.3 

20.4 

9.0 

15.1 

10.0 

7.2 

18.1 

35.6 

25.1 

na 

16.7 

na 

6.0 

11.3 

15.2 

2.8 

62.9 

11.5 

7.7 

14.6 

11.9 

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 

Thresholds 
BE 

-4/+6% 
2.9 

-35% 
33.5 

±5% & ±11%
4.9 

-6% 
na 

+9%  & +12%
1.8 

+6%  
9.8 

15% 
3.3 

160% 
185 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-7.8 

-4.0 

3.6 

3.9 

-10.9 

-1.4 

-6.7 

-5.4 

0.2 

-0.7 

-4.4 

-11.2 

-7.1 

10.5 

-7.8 

-5.9 

6.9 

2.0 

-3.4 

-8.4 

-7.6 

-1.7 

-7.4 

4.8 

6.8 

-2.1 

-44.1 

-26.9 

3.9 

21.0 

-85.2 

-24.5 

-77.3 

-55.6 

1.1 

-16.8 

20.3 

-59.6 

-42.6 

127.8 

-94.4 

36.9 

-2.6 

-21.7 

-42.5 

-66.9 

-29.5 

-11.0 

-38.7 

-15.3 

-20.7 

-20.0 

8.9 

3.5 

4.2 

4.8 

6.9 

12.0 

6.8 

7.9 

6.0 

6.9 

6.7 

-4.4 

1.0 

6.6 

9.2 

5.6 

3.3 

2.7 

-1.5 

5.3 

16.3 

1.7 

27.3 

2.5 

3.9 

-2.9 

41.0 

42.1 

3.8 

11.3 

41.7 

5.9 

6.3 

5.5 

-9.5 

-5.2 

-2.3 

43.5 

77.7 

17.4 

30.9 

-21.6 

1.7 

12.7 

48.2 

-3.7 

64.6 

27.0 

57.0 

-6.1 

-5.0 

-10.7 

9.5 

5.3 

4.9 

-0.5 

15.1 

13.7 

8.3 

8.8 

4.9 

8.7 

13.6 

29.2 

10.6 

4.8 

13.3 

7.5 

2.3 

2.2 

-5.1 

8.6 

52.3 

9.7 

11.0 

2.9 

-0.5 

5.9 

27.9 

0.0 

15.8 

na 

27.6 

9.9 

12.0 

10.0 

13.2 

5.2 

na 

23.1 

48.7 

8.1 

na 

6.9 

1.8 

na 

na 

-0.5 

na 

13.1 

na 

7.2 

7.8 

2.9 

8 

21.9 

3.3 

24.9 

-0.9 

26.8 

24.8 

15.0 

27.8 

9.0 

9.4 

46.7 

26.4 

15.5 

na 

17.4 

11.9 

14.6 

7.7 

4.5 

13.7 

12.0 

13.6 

7.9 

8.2 

14.9 

18.0 

91 

57 

202 

128 

122 

193 

90 

177 

132 

104 

204 

95 

53 

na 

102 

181 

211 

132 

44 

200 

42 

85 

51 

142 

192 

194 

60% 
92 

28 

28 

38 

69 

5 

27 

101 

43 

67 

106 

69 

13 

18 

6 

62 

70 

52 

64 

47 

68 

16 

27 

34 

42 

50 

42 

10% 
8.3 

12.0 

8.0 

5.2 

10.5 

9.2 

4.5 

10.0 

10.5 

9.2 

8.1 

4.8 

10.7 

10.7 

4.5 

6.3 

7.4 

4.8 

4.8 

18.8 

7.7 

7.3 

6.5 

17.5 

8.7 

7.2 

4.8 

% y-o-y 
Change in 
Total Financial 
Sector 
Liabilities, 
non-
consolidated  

16.5% 
15.7 

34.3 

11.3 

21.1 

5.6 

23.4 

35.3 

16.8 

24.6 

15.1 

12.1 

37.8 

41.0 

48.9 

na 

21.1 

27.9 

14.8 

16.5 

19.4 

9.8 

46.7 

17.7 

19.1 

13.6 

14.9 

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 

Thresholds 
BE 

-4/+6% 
2.3 

-35% 
29.4 

±5% & ±11%
1.5 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-11.9 

-2.7 

3.4 

5.3 

-12.2 

-2.5 

-8.3 

-7.2 

-0.2 

-0.9 

-6.0 

-16.0 

-8.4 

11.3 

-7.6 

-8.2 

8.1 

2.4 

-3.8 

-9.8 

-9.1 

-2.3 

-8.1 

4.6 

7.3 

-2.7 

-58.0 

-32.3 

-0.2 

27.9 

-73.9 

-5.3 

-85.4 

-65.8 

1.1 

-22.2 

38.3 

-69.9 

-48.9 

131.6 

-102.8 

28.0 

3.2 

-20.5 

-45.7 

-78.8 

-36.2 

-17.1 

-46.8 

-13.8 

-13.0 

-28.9 

11.3 

11.5 

-0.5 

0.1 

6.5 

3.4 

2.5 

4.3 

0.8 

1.1 

1.3 

4.8 

0.9 

4.0 

3.0 

4.0 

-1.1 

-0.4 

13.7 

1.4 

29.4 

-0.7 

19.5 

-2.5 

-2.5 

3.1 

% 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 

-6% 
na 

42.4 

26.6 

-3.0 

3.6 

37.8 

-12.5 

-4.8 

-3.2 

-16.0 

-12.5 

-17.9 

32.0 

50.4 

19.6 

16.9 

-9.5 

-4.4 

1.3 

37.5 

-5.4 

51.2 

17.6 

59.4 

-7.0 

-1.3 

-11.0 

+9%  & +12%
2.8 

+6%  
5.6 

15% 
17.8 

160% 
193 

11.1 

2.6 

4.9 

-3.4 

19.6 

12.9 

5.5 

9.2 

4.7 

6.5 

4.6 

42.9 

20.7 

4.8 

9.3 

5.2 

0.4 

1.8 

-2.9 

5.5 

32.1 

6.2 

8.5 

2.5 

-1.2 

7.0 

12.2 

5.3 

21.8 

-1.4 

42.1 

12.2 

9.3 

11.8 

9.7 

3.2 

8.8 

9.2 

34.8 

3.7 

1.6 

18.6 

2.0 

1.9 

35.0 

-1.0 

46.0 

14.2 

11.5 

5.5 

11.3 

3.5 

9 

20.5 

7.2 

24.6 

0.9 

40.3 

34.5 

16.9 

37.0 

10.7 

10.9 

10.4 

43.0 

19.0 

14.1 

18.0 

17.1 

12.7 

7.2 

10.0 

16.5 

22.7 

13.9 

9.4 

13.2 

10.7 

21.0 

100 

61 

215 

124 

150 

217 

98 

200 

137 

110 

200 

122 

65 

161 

111 

194 

213 

144 

52 

209 

68 

91 

55 

147 

193 

206 

60% 
88 

22 

28 

32 

68 

4 

25 

108 

40 

64 

106 

65 

11 

18 

7 

66 

64 

47 

62 

48 

69 

12 

26 

31 

40 

45 

43 

10% 
8.4 

10.4 

7.8 

4.7 

10.7 

7.8 

4.4 

9.8 

9.5 

9.3 

7.5 

5.0 

9.3 

8.4 

4.7 

6.9 

7.1 

4.9 

5.0 

16.9 

8.2 

7.5 

6.3 

16.1 

8.3 

7.4 

5.0 

% y-o-y 
Change in 
Total Financial 
Sector 
Liabilities, 
non-
consolidated  

16.5% 
11.0 

51.9 

3.6 

10.1 

4.8 

15.1 

20.4 

14.2 

19.0 

15.0 

10.5 

29.6 

47.8 

32.5 

na 

18.0 

14.3 

12.1 

10.0 

24.3 

11.3 

35.3 

13.8 

-7.5 

12.2 

12.0 

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 

Thresholds 
BE 

-4/+6% 
1.9 

-35% 
28.9 

±5% & ±11%
1.5 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-18.1 

-2.4 

2.9 

6.3 

-13.8 

-4.1 

-11.2 

-8.8 

-0.7 

-1.2 

-8.2 

-19.2 

-10.7 

10.7 

-7.3 

-8.3 

7.8 

2.8 

-4.1 

-10.4 

-10.8 

-3.0 

-7.2 

3.9 

8.1 

-2.8 

-81.1 

-38.7 

-5.8 

26.5 

-72.0 

-19.6 

-96.1 

-78.1 

-1.5 

-24.5 

11.7 

-74.7 

-55.8 

95.5 

-105.1 

18.1 

-6.0 

-18.2 

-50.1 

-87.9 

-47.1 

-21.8 

-46.2 

-27.9 

-1.5 

-22.9 

12.1 

14.0 

0.1 

0.6 

9.5 

4.1 

1.9 

4.2 

0.2 

0.7 

0.2 

11.1 

4.5 

3.3 

8.0 

3.2 

-1.0 

-0.3 

18.7 

1.5 

37.6 

1.0 

19.4 

-1.4 

-2.6 

1.2 

% 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 

-6% 
-10.3 

43.4 

25.8 

-8.7 

2.0 

39.3 

-15.7 

3.8 

-3.2 

-18.0 

-9.3 

-11.2 

45.7 

30.7 

28.2 

20.8 

-12.1 

-2.7 

0.7 

42.2 

-5.5 

42.8 

18.7 

74.4 

-5.1 

0.0 

-18.6 

+9%  & +12%
5.7 

+6%  
4.4 

15% 
20.9 

160% 
203 

19.0 

2.3 

9.4 

-3.7 

32.9 

12.8 

5.9 

11.0 

5.4 

6.1 

3.8 

71.4 

24.5 

5.2 

11.3 

3.7 

1.8 

3.5 

1.9 

5.7 

47.5 

5.2 

6.2 

3.1 

3.9 

7.2 

18.3 

15.8 

1.4 

-3.6 

11.8 

4.1 

1.9 

6.4 

4.4 

2.6 

8.2 

24.0 

25.7 

2.4 

-2.0 

18.7 

3.1 

1.6 

45.2 

-1.6 

44.5 

17.4 

25.7 

3.6 

11.2 

8.2 

10 

39.9 

8.7 

18.7 

3.6 

32.2 

25.0 

17.0 

27.0 

12.6 

13.1 

38.8 

36.6 

27.2 

33.4 

22.0 

4.6 

9.2 

15.5 

12.0 

24.6 

34.3 

23.5 

10.3 

15.1 

23.3 

19.6 

132 

66 

224 

122 

159 

224 

108 

215 

143 

118 

221 

128 

82 

205 

126 

192 

211 

152 

59 

223 

107 

106 

64 

151 

210 

206 

60% 
84 

17 

28 

27 

65 

4 

25 

107 

36 

64 

103 

59 

9 

17 

7 

67 

62 

45 

60 

45 

68 

13 

23 

30 

35 

40 

44 

10% 
8.1 

8.6 

6.8 

4.2 

10.1 

6.1 

4.5 

9.0 

8.6 

9.0 

6.9 

4.7 

7.8 

6.1 

4.5 

7.3 

6.9 

4.4 

4.8 

13.8 

8.7 

6.9 

5.8 

13.7 

7.6 

7.0 

5.2 

% y-o-y 
Change in 
Total Financial 
Sector 
Liabilities, 
non-
consolidated  

16.5% 
12.1 

29.3 

15.5 

10.5 

5.9 

27.8 

10.3 

22.1 

16.9 

13.1 

0.5 

22.8 

36.7 

34.3 

15.1 

13.4 

22.3 

16.3 

9.4 

18.9 

9.9 

35.2 

28.5 

24.8 

10.5 

8.1 

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 

Thresholds 
BE 

-4/+6% 
0.8 

-35% 
39.7 

±5% & ±11%
4.4 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-22.0 

-2.8 

2.4 

6.6 

-13.5 

-4.9 

-13.6 

-9.5 

-1.1 

-1.9 

-11.5 

-19.4 

-12.7 

8.6 

-7.3 

-7.0 

6.8 

3.7 

-5.5 

-11.1 

-11.8 

-4.5 

-6.4 

3.7 

8.9 

-2.4 

-98.4 

-40.1 

-5.1 

25.4 

-76.7 

-76.2 

-76.8 

-79.3 

-12.9 

-24.1 

-15.1 

-79.0 

-51.6 

100.1 

-106.0 

2.7 

4.2 

-16.9 

-56.3 

-96.2 

-53.4 

-35.7 

-57.4 

-9.7 

-10.5 

-7.0 

20.3 

24.4 

3.2 

2.4 

15.1 

8.0 

4.0 

6.2 

2.7 

3.2 

3.1 

24.0 

12.3 

4.0 

9.3 

7.0 

0.7 

1.0 

16.1 

2.7 

10.6 

4.2 

26.0 

2.4 

-0.9 

-10.4 

% 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 

-6% 
-14.0 

33.1 

22.0 

-8.2 

-5.3 

22.7 

-21.2 

1.1 

-13.6 

-21.5 

-16.3 

-14.9 

41.1 

39.9 

15.6 

13.9 

-10.8 

-9.4 

-5.6 

39.2 

-13.3 

41.6 

11.1 

52.1 

-5.6 

-8.6 

-24.2 

+9%  & +12%
8.8 

26.7 

6.5 

13.6 

-0.6 

46.7 

14.8 

6.6 

13.4 

6.8 

8.3 

4.0 

79.4 

29.6 

12.5 

13.1 

8.1 

5.4 

6.1 

9.2 

5.6 

48.6 

10.3 

6.7 

7.7 

6.9 

8.5 

+6%  
0.8 

16.7 

7.4 

-7.7 

-0.3 

-16.2 

-8.4 

0.3 

-4.9 

-2.0 

-0.4 

1.2 

-13.0 

-1.4 

-0.5 

-4.0 

7.5 

1.0 

-1.0 

-4.8 

1.4 

-19.0 

1.5 

12.8 

-2.5 

-1.8 

-4.2 

11 

15% 
22.2 

41.1 

8.6 

18.1 

3.0 

13.0 

36.4 

16.5 

12.3 

9.1 

6.7 

38.3 

14.3 

9.4 

-37.6 

29.2 

18.1 

7.5 

6.6 

12.1 

21.8 

27.9 

18.3 

12.4 

20.5 

20.3 

11.9 

160% 
217 

155 

73 

237 

124 

164 

279 

119 

221 

150 

122 

242 

132 

82 

221 

156 

201 

211 

157 

72 

240 

115 

117 

69 

169 

237 

221 

60% 
89 

14 

29 

33 

67 

5 

45 

113 

40 

68 

106 

49 

20 

16 

14 

73 

62 

59 

64 

47 

72 

13 

22 

28 

34 

39 

52 

10% 
7.6 

7.1 

5.6 

3.7 

8.8 

5.3 

5.1 

8.3 

9.4 

8.5 

6.5 

4.2 

7.3 

5.3 

4.6 

7.5 

6.5 

3.7 

4.3 

10.2 

8.7 

6.5 

5.1 

11.4 

7.0 

6.5 

5.4 

% y-o-y 
Change in 
Total Financial 
Sector 
Liabilities, 
non-
consolidated  

16.5% 
-6.9 

-3.5 

6.6 

6.4 

1.9 

8.0 

6.5 

4.6 

4.7 

2.5 

-2.7 

15.0 

7.8 

3.7 

-11.8 

14.6 

10.0 

-0.6 

11.8 

7.1 

5.4 

11.7 

6.6 

8.9 

16.4 

10.8 

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 

Thresholds 
BE 

-4/+6% 
-0.3 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-19.1 

-2.9 

2.5 

6.5 

-7.2 

-4.5 

-13.6 

-8.1 

-1.4 

-2.0 

-12.7 

-9.0 

-7.9 

7.5 

-4.9 

-6.3 

5.4 

3.7 

-5.5 

-11.2 

-9.7 

-3.9 

-4.7 

2.9 

8.3 

-1.8 

-35% 
54.2 

-101.8 

-46.0 

4.4 

33.8 

-81.9 

-93.0 

-89.6 

-93.7 

-9.4 

-25.3 

-30.4 

-82.7 

-57.3 

85.7 

-117.2 

13.6 

16.7 

-8.0 

-58.8 

-110.4 

-62.2 

-39.6 

-66.7 

0.0 

-9.3 

-21.0 

% Change (3 
years) of Real 
Effective 
Exchange Rate 
with HICP 
deflators 

±5% & ±11%
4.2 

18.6 

13.7 

5.7 

3.2 

13.7 

5.3 

5.1 

5.0 

2.9 

3.9 

3.7 

23.7 

16.9 

4.1 

8.0 

5.9 

2.8 

2.1 

-3.8 

1.3 

-4.9 

5.7 

27.1 

5.3 

-8.3 

-19.9 

% 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  

-6% 
-10.7 

18.3 

10.1 

-5.1 

-4.6 

9.8 

-5.3 

-13.9 

-7.1 

-10.0 

-17.9 

-9.0 

31.7 

22.4 

10.6 

6.6 

11.2 

-6.3 

-8.4 

27.9 

-9.3 

32.7 

6.0 

39.8 

-14.9 

-15.1 

-21.1 

+9%  & +12%
10.8 

+6%  
0.6 

38.5 

8.4 

17.7 

7.2 

36.2 

6.7 

14.5 

11.4 

8.8 

10.5 

7.0 

42.0 

15.9 

19.3 

14.0 

10.1 

10.2 

10.2 

12.8 

8.0 

45.7 

18.4 

10.9 

16.9 

12.1 

11.1 

-21.6 

-4.5 

-13.3 

0.8 

-36.4 

-12.9 

0.4 

-5.7 

-6.5 

-0.3 

-7.2 

-39.3 

-32.9 

-2.8 

-9.8 

-6.7 

-3.8 

0.9 

-5.2 

2.8 

-26.3 

-10.4 

-12.8 

0.0 

0.6 

-9.1 

12 

15% 
8.5 

19.1 

1.0 

-2.1 

1.8 

2.6 

2.4 

3.8 

-3.0 

-1.8 

1.3 

15.5 

-6.1 

-11.5 

176.3 

5.4 

11.3 

6.3 

-3.5 

3.9 

7.5 

7.9 

4.1 

2.8 

-1.3 

4.8 

-12.1 

160% 
229 

175 

76 

251 

131 

175 

311 

123 

227 

157 

128 

262 

147 

88 

373 

171 

213 

226 

158 

72 

252 

123 

127 

74 

179 

249 

220 

60% 
96 

15 

34 

41 

75 

7 

65 

130 

54 

79 

116 

59 

37 

29 

15 

80 

68 

61 

69 

51 

83 

24 

35 

36 

44 

43 

68 

10% 
7.5 

16.5% 
-5.0 

6.5 

5.5 

4.4 

8.0 

8.0 

7.6 

8.5 

12.6 

8.6 

6.9 

4.4 

10.9 

8.0 

4.7 

8.4 

6.5 

3.5 

4.3 

8.3 

9.3 

6.4 

5.0 

11.0 

7.2 

6.9 

6.2 

0.9 

2.1 

0.7 

-1.1 

-10.8 

2.8 

10.2 

3.8 

0.2 

5.7 

18.8 

-8.1 

-3.7 

6.1 

8.2 

-0.4 

6.1 

-1.7 

9.6 

9.5 

14.4 

7.4 

-5.0 

6.5 

6.1 

-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 

Thresholds 
BE 

-4/+6% 
-0.3 

-35% 
64.4 

±5% & ±11%
1.4 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-11.2 

-2.8 

4.1 

6.1 

-0.9 

-2.3 

-12.1 

-6.3 

-1.5 

-2.8 

-12.1 

-0.5 

-3.0 

6.9 

-2.2 

-5.8 

5.7 

3.7 

-5.2 

-11.2 

-6.7 

-2.5 

-4.2 

2.0 

7.5 

-2.1 

-95.4 

-48.2 

10.1 

34.9 

-72.8 

-88.9 

-98.4 

-88.9 

-7.8 

-24.0 

-35.6 

-80.3 

-55.4 

96.6 

-112.8 

7.4 

22.6 

-8.1 

-65.4 

-107.3 

-63.8 

-42.8 

-63.2 

11.8 

-7.4 

-23.8 

10.9 

12.8 

0.9 

-2.9 

6.2 

-4.9 

4.1 

0.8 

-1.2 

-0.9 

1.7 

8.7 

9.4 

2.0 

-0.3 

0.7 

-0.9 

-1.3 

-0.5 

-2.2 

-10.0 

2.4 

11.8 

0.2 

-2.6 

-19.7 

% 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 

-6% 
-14.1 

14.9 

10.2 

-15.0 

-7.2 

-0.8 

-12.7 

-20.0 

-10.6 

-13.4 

-19.2 

-19.4 

13.9 

13.7 

-0.6 

1.4 

19.4 

-8.2 

-14.8 

20.1 

-8.6 

21.2 

-4.5 

31.3 

-19.9 

-11.9 

-23.1 

+9%  & +12%
8.0 

33.9 

5.7 

11.0 

6.8 

9.1 

-4.1 

11.5 

4.9 

7.7 

8.1 

7.2 

-0.3 

1.2 

19.2 

6.4 

8.2 

7.6 

8.9 

11.3 

5.1 

36.5 

15.9 

9.4 

14.4 

5.1 

10.0 

+6%  
0.2 

-12.3 

-2.0 

0.1 

-1.0 

3.0 

-10.5 

-6.5 

-3.9 

4.0 

-1.5 

-7.7 

-9.3 

-8.7 

2.5 

-6.4 

-2.0 

-2.8 

-1.3 

-6.2 

0.2 

-14.5 

-1.3 

-4.9 

4.1 

6.7 

3.5 

13 

15% 
13.7 

0.1 

2.1 

5.6 

3.1 

-4.4 

0.3 

0.7 

1.4 

1.8 

3.8 

23.7 

-8.7 

-5.6 

7.3 

-21.6 

6.8 

3.3 

6.8 

3.6 

4.5 

1.7 

1.8 

3.3 

6.9 

2.8 

1.9 

160% 
232 

170 

77 

244 

127 

149 

315 

125 

227 

159 

129 

278 

140 

80 

345 

154 

209 

225 

164 

74 

250 

76 

128 

73 

183 

233 

209 

60% 
96 

16 

38 

43 

83 

7 

92 

148 

62 

82 

119 

61 

45 

38 

19 

82 

68 

63 

72 

55 

94 

31 

39 

41 

49 

40 

79 

10% 
7.7 

7.5 

6.1 

5.6 

7.5 

12.0 

10.6 

9.9 

16.5 

9.0 

7.6 

5.2 

15.3 

12.5 

4.9 

9.7 

6.6 

3.8 

4.3 

8.3 

10.4 

6.6 

5.9 

12.1 

7.7 

7.6 

7.0 

% y-o-y 
Change in 
Total Financial 
Sector 
Liabilities, 
non-
consolidated  

16.5% 
-2.0 

-2.4 

2.8 

8.0 

0.1 

-10.1 

6.2 

8.5 

-2.2 

3.0 

1.7 

-6.0 

-0.1 

0.0 

12.4 

3.2 

18.5 

6.8 

-1.7 

13.3 

10.0 

4.4 

-3.4 

2.2 

18.9 

2.1 

7.9 

 
  
14 

 
 
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 

Thresholds 
BE 

-4/+6% 
-0.3 

-35% 
65.7 

±5% & ±11%
-0.5 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-3.4 

-3.0 

5.0 

5.9 

2.8 

0.0 

-10.4 

-4.3 

-1.6 

-2.9 

-8.4 

3.1 

0.0 

7.5 

0.6 

-4.3 

7.5 

2.2 

-4.6 

-9.1 

-4.3 

-0.4 

-2.1 

0.6 

6.6 

-2.2 

-85.6 

-49.3 

24.5 

32.6 

-57.8 

-96.0 

-86.1 

-91.7 

-15.9 

-20.6 

-71.3 

-73.3 

-52.6 

107.8 

-105.9 

5.7 

35.5 

-2.3 

-63.5 

-105.0 

-62.5 

-41.2 

-64.4 

13.1 

-8.3 

-17.3 

3.1 

0.3 

-1.7 

-3.9 

0.8 

-9.1 

3.1 

-1.3 

-3.2 

-2.1 

-0.9 

-0.6 

3.6 

0.8 

-3.3 

-3.0 

-1.6 

-1.0 

-10.9 

-1.9 

-2.4 

-0.3 

4.3 

-1.3 

3.9 

-7.1 

% 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  

-6% 
-10.2 

17.2 

8.4 

-16.9 

-8.4 

11.1 

-12.2 

-18.7 

-7.6 

-11.2 

-18.4 

-16.4 

23.6 

25.2 

-10.1 

-2.8 

11.7 

-8.2 

-12.7 

12.8 

-9.5 

22.8 

-6.1 

20.9 

-22.9 

-11.6 

-24.2 

+9%  & +12%
6.2 

+6%  
-0.1 

15% 
11.6 

160% 
236 

60% 
98 

10% 
7.8 

16.5% 
4.7 

20.3 

3.3 

4.7 

5.9 

-6.2 

-12.8 

4.1 

-2.1 

6.0 

4.4 

8.8 

-15.0 

-8.4 

12.5 

3.7 

5.8 

5.8 

5.9 

4.3 

0.9 

12.9 

8.3 

4.4 

9.1 

1.2 

8.1 

-9.0 

0.0 

-4.9 

1.4 

3.3 

-15.2 

-5.1 

-10.0 

3.8 

-2.0 

-8.5 

4.9 

2.4 

1.5 

-4.1 

-2.3 

-4.0 

-8.0 

-5.7 

-3.6 

-18.9 

1.0 

-5.6 

-0.3 

1.0 

-5.4 

15 

-6.7 

2.5 

-2.2 

4.8 

6.8 

4.0 

-5.5 

-4.1 

4.0 

2.6 

16.1 

-2.5 

-0.8 

2.5 

6.4 

2.2 

0.7 

4.1 

7.1 

-3.2 

1.8 

1.9 

3.3 

4.6 

6.3 

1.0 

146 

78 

238 

128 

133 

310 

125 

218 

160 

129 

288 

125 

70 

326 

167 

210 

225 

161 

80 

249 

72 

128 

76 

179 

232 

205 

16 

41 

47 

81 

6 

106 

171 

69 

86 

121 

71 

42 

39 

18 

81 

71 

66 

72 

56 

108 

33 

47 

43 

49 

38 

85 

9.4 

6.9 

7.0 

6.9 

14.4 

13.3 

13.2 

19.9 

9.6 

8.2 

6.6 

18.1 

15.6 

4.8 

10.7 

6.8 

4.2 

4.4 

9.2 

11.9 

7.2 

7.1 

13.4 

8.1 

8.1 

7.8 

5.6 

3.8 

4.7 

2.1 

-4.4 

-0.6 

-3.4 

3.7 

7.3 

3.8 

-0.2 

-4.5 

8.9 

11.3 

-2.6 

1.4 

7.2 

-0.3 

4.4 

-0.7 

4.3 

-1.3 

1.2 

30.8 

3.6 

8.5 

 
  
.

16 

 
Table 12: The MIP scoreboard for Belgium 

Belgium 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

4.2 

4.0 

3.8 

3.7 

2.9 

2.3 

1.9 

0.8 

-0.3 

-0.3 

-0.3 

-35% 

na 

36.6 

36.6 

28.4 

33.5 

29.4 

28.9 

39.7 

54.2 

64.4 

65.7 

±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 

% 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 

Internal imbalances 

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 

17 

 
  
 
Table 13: The MIP scoreboard for Bulgaria 

Bulgaria 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-5.2 

-4.4 

-4.4 

-4.7 

-7.8 

-11.9 

-18.1 

-22.0 

-19.1 

-11.2 

-3.4 

-35% 

-27.1 

-25.3 

-26.3 

-30.1 

-44.1 

-58.0 

-81.1 

-98.4 

-101.8 

-95.4 

-85.6 

±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 

% 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 

Internal imbalances 

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 

18 

 
  
 
Table 14: The MIP scoreboard for the Czech Republic 

Czech Republic 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-4.0 

-5.0 

-5.5 

-5.4 

-4.0 

-2.7 

-2.4 

-2.8 

-2.9 

-2.8 

-3.0 

-35% 

-10.0 

-15.5 

-19.6 

-28.2 

-26.9 

-32.3 

-38.7 

-40.1 

-46.0 

-48.2 

-49.3 

±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 

% 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 

Internal imbalances 

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 

19 

 
  
Table 15: The MIP scoreboard for Denmark 

Denmark 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

2.2 

2.3 

3.0 

3.0 

3.6 

3.4 

2.9 

2.4 

2.5 

4.1 

5.0 

-35% 

-16.6 

-16.4 

-12.1 

-5.3 

3.9 

-0.2 

-5.8 

-5.1 

4.4 

10.1 

24.5 

±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 

% 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 

Internal imbalances 

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 

20 

 
  
 
Table 16: The MIP scoreboard for Germany 

Germany 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-1.0 

0.1 

1.3 

2.9 

3.9 

5.3 

6.3 

6.6 

6.5 

6.1 

5.9 

-35% 

8.7 

5.1 

6.6 

10.7 

21.0 

27.9 

26.5 

25.4 

33.8 

34.9 

32.6 

±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 

% 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 

Internal imbalances 

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 

21 

 
  
 
Table 17: The MIP scoreboard for Estonia 

Estonia 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-4.9 

-7.1 

-9.0 

-11.1 

-10.9 

-12.2 

-13.8 

-13.5 

-7.2 

-0.9 

2.8 

-35% 

-48.3 

-54.1 

-65.9 

-86.5 

-85.2 

-73.9 

-72.0 

-76.7 

-81.9 

-72.8 

-57.8 

±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 

% 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 

Internal imbalances 

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 

22 

 
  
Table 18: The MIP scoreboard for Ireland 

Ireland 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-0.3 

-0.7 

-0.5 

-0.5 

-1.4 

-2.5 

-4.1 

-4.9 

-4.5 

-2.3 

0.0 

-35% 

-15.2 

-17.9 

-20.0 

-17.9 

-24.5 

-5.3 

-19.6 

-76.2 

-93.0 

-88.9 

-96.0 

±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 

% 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 

Internal imbalances 

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 

23 

 
  
 
Table 19: The MIP scoreboard for Greece 

Greece 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-6.2 

-7.2 

-6.8 

-6.3 

-6.7 

-8.3 

-11.2 

-13.6 

-13.6 

-12.1 

-10.4 

-35% 

-46.5 

-52.9 

-58.9 

-67.0 

-77.3 

-85.4 

-96.1 

-76.8 

-89.6 

-98.4 

-86.1 

±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 

% 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 

Internal imbalances 

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 

24 

 
  
Table 20: The MIP scoreboard for Spain 

Spain 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-3.6 

-3.7 

-3.6 

-4.0 

-5.4 

-7.2 

-8.8 

-9.5 

-8.1 

-6.3 

-4.3 

-35% 

-35.6 

-41.6 

-45.2 

-51.9 

-55.6 

-65.8 

-78.1 

-79.3 

-93.7 

-88.9 

-91.7 

±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 

% 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 

Internal imbalances 

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 

25 

 
  
 
 
Table 21: The MIP scoreboard for France 

France 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

1.8 

1.3 

1.1 

0.7 

0.2 

-0.2 

-0.7 

-1.1 

-1.4 

-1.5 

-1.6 

-35% 

-2.0 

3.0 

-4.2 

-4.7 

1.1 

1.1 

-1.5 

-12.9 

-9.4 

-7.8 

-15.9 

±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 

% 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 

Internal imbalances 

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 

26 

 
  
 
Table 22: The MIP scoreboard for Italy 

Italy 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

0.4 

-0.1 

-0.3 

-0.5 

-0.7 

-0.9 

-1.2 

-1.9 

-2.0 

-2.8 

-2.9 

-35% 

-5.8 

-12.4 

-13.6 

-15.8 

-16.8 

-22.2 

-24.5 

-24.1 

-25.3 

-24.0 

-20.6 

±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 

% 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 

Internal imbalances 

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 

27 

 
  
 
Table 23: The MIP scoreboard for Cyprus 

Cyprus 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-3.5 

-4.1 

-3.1 

-3.7 

-4.4 

-6.0 

-8.2 

-11.5 

-12.7 

-12.1 

-8.4 

-35% 

na 

10.6 

4.3 

14.1 

20.3 

38.3 

11.7 

-15.1 

-30.4 

-35.6 

-71.3 

±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 

% 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 

Internal imbalances 

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 

28 

 
  
Table 24: The MIP scoreboard for Latvia 

Latvia 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-7.1 

-6.4 

-7.5 

-9.3 

-11.2 

-16.0 

-19.2 

-19.4 

-9.0 

-0.5 

3.1 

-35% 

-37.6 

-41.3 

-43.8 

-52.3 

-59.6 

-69.9 

-74.7 

-79.0 

-82.7 

-80.3 

-73.3 

±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 

% 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 

Internal imbalances 

.

29 

 
  
Table 25: The MIP scoreboard for Lithuania 

Lithuania 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-7.1 

-5.2 

-5.5 

-6.5 

-7.1 

-8.4 

-10.7 

-12.7 

-7.9 

-3.0 

0.0 

-35% 

-34.4 

-32.6 

-33.1 

-34.4 

-42.6 

-48.9 

-55.8 

-51.6 

-57.3 

-55.4 

-52.6 

±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 

% 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 

Internal imbalances 

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 

30 

 
  
 
Table 26: The MIP scoreboard for Luxembourg 

Luxembourg 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

10.1 

10.8 

9.1 

10.2 

10.5 

11.3 

10.7 

8.6 

7.5 

6.9 

7.5 

-35% 

na 

100.4 

140.3 

113.1 

127.8 

131.6 

95.5 

100.1 

85.7 

96.6 

107.8 

±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 

% 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 

Internal imbalances 

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 

31 

 
  
 
Table 27: The MIP scoreboard for Hungary 

Hungary 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-7.5 

-7.2 

-7.0 

-7.8 

-7.8 

-7.6 

-7.3 

-7.3 

-4.9 

-2.2 

0.6 

-35% 

-66.3 

-65.2 

-78.1 

-85.4 

-94.4 

-102.8 

-105.1 

-106.0 

-117.2 

-112.8 

-105.9

±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 

% 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 

Internal imbalances 

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 

32 

 
  
 
Table 28: The MIP scoreboard for Malta 

Malta 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-6.4 

-4.6 

-1.5 

-2.2 

-5.9 

-8.2 

-8.3 

-7.0 

-6.3 

-5.8 

-4.3 

-35% 

13.6 

34.6 

39.6 

40.1 

36.9 

28.0 

18.1 

2.7 

13.6 

7.4 

5.7 

±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 

% 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 

Internal imbalances 

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 

33 

 
  
 
Table 29: The MIP scoreboard for the Netherlands 

Netherlands 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

2.8 

2.4 

3.6 

5.3 

6.9 

8.1 

7.8 

6.8 

5.4 

5.7 

7.5 

-35% 

-13.4 

-24.3 

-1.7 

3.7 

-2.6 

3.2 

-6.0 

4.2 

16.7 

22.6 

35.5 

±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 

% 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 

Internal imbalances 

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 

34 

 
  
 
Table 30: The MIP scoreboard for Austria 

Austria 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-1.1 

0.4 

1.2 

2.2 

2.0 

2.4 

2.8 

3.7 

3.7 

3.7 

2.2 

-35% 

-25.6 

-20.1 

-14.3 

-17.3 

-21.7 

-20.5 

-18.2 

-16.9 

-8.0 

-8.1 

-2.3 

±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 

% 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 

Internal imbalances 

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 

35 

 
  
 
Table 31: The MIP scoreboard for Poland 

Poland 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-5.5 

-4.0 

-2.8 

-3.5 

-3.4 

-3.8 

-4.1 

-5.5 

-5.5 

-5.2 

-4.6 

-35% 

-29.5 

-34.9 

-41.7 

-41.6 

-42.5 

-45.7 

-50.1 

-56.3 

-58.8 

-65.4 

-63.5 

±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 

% 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 

Internal imbalances 

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 

36 

 
  
 
Table 32: The MIP scoreboard for Portugal 

Portugal 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-9.8 

-9.6 

-8.3 

-7.7 

-8.4 

-9.8 

-10.4 

-11.1 

-11.2 

-11.2 

-9.1 

-35% 

-47.5 

-54.6 

-57.5 

-64.1 

-66.9 

-78.8 

-87.9 

-96.2 

-110.4 

-107.3 

-105.0

±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 

% 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 

Internal imbalances 

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 

37 

 
  
 
Table 33: The MIP scoreboard for Romania 

Romania 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-4.4 

-4.1 

-4.9 

-5.9 

-7.6 

-9.1 

-10.8 

-11.8 

-9.7 

-6.7 

-4.3 

-35% 

-25.0 

-21.2 

-27.1 

-26.4 

-29.5 

-36.2 

-47.1 

-53.4 

-62.2 

-63.8 

-62.5 

±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 

% 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 

Internal imbalances 

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 

38 

 
  
 
Table 34: The MIP scoreboard for Slovenia 

Slovenia 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-1.9 

-0.5 

0.1 

-0.8 

-1.7 

-2.3 

-3.0 

-4.5 

-3.9 

-2.5 

-0.4 

-35% 

-2.2 

0.1 

-5.9 

-7.8 

-11.0 

-17.1 

-21.8 

-35.7 

-39.6 

-42.8 

-41.2 

±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 

% 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 

Internal imbalances 

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 

39 

 
  
 
Table 35: The MIP scoreboard for Slovakia 

Slovakia 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-5.8 

-6.5 

-7.4 

-7.2 

-7.4 

-8.1 

-7.2 

-6.4 

-4.7 

-4.2 

-2.1 

-35% 

-18.4 

-16.2 

-24.5 

-31.0 

-38.7 

-46.8 

-46.2 

-57.4 

-66.7 

-63.2 

-64.4 

±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 

% 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 

Internal imbalances 

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 

40 

 
  
 
Table 36: The MIP scoreboard for Finland 

Finland 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

7.2 

8.2 

7.2 

6.5 

4.8 

4.6 

3.9 

3.7 

2.9 

2.0 

0.6 

-35% 

-82.2 

-36.8 

-26.4 

-10.0 

-15.3 

-13.8 

-27.9 

-9.7 

0.0 

11.8 

13.1 

±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 

% 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 

Internal imbalances 

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 

41 

 
  
 
  
Table 37: The MIP scoreboard for Sweden 

Sweden 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

4.4 

4.6 

5.5 

6.1 

6.8 

7.3 

8.1 

8.9 

8.3 

7.5 

6.6 

-35% 

-25.0 

-22.0 

-20.0 

-25.0 

-20.7 

-13.0 

-1.5 

-10.5 

-9.3 

-7.4 

-8.3 

±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 

% 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 

Internal imbalances 

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 

42 

 
  
 
Table 38: The MIP scoreboard for the United Kingdom 

United Kingdom 

Thresholds 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

3 year average of Current Account Balance as a 
percent of GDP  

Net International Investment Position as % of 
GDP 

External 
imbalances and 
competitiveness 

% Change (3 years) of Real Effective Exchange 
Rate (REER) with HICP deflators 

-4/+6% 

-2.4 

-2.1 

-1.8 

-1.8 

-2.1 

-2.7 

-2.8 

-2.4 

-1.8 

-2.1 

-2.2 

-35% 

-13.4 

-11.2 

-10.3 

-18.4 

-20.0 

-28.9 

-22.9 

-7.0 

-21.0 

-23.8 

-17.3 

±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 

% 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 

Internal imbalances 

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 

43 

 
  
 
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 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

0.8 

4.2 

3.1 

0.7 

1.5 

6.3 

5.3 

4.2 

3.7 

1.8 

1.9 

4.0 

7.3 

6.7 

2.5 

3.7 

-1.5 

1.9 

0.9 

1.2 

2.0 

5.7 

2.9 

3.5 

2.3 

1.3 

2.9 

20.9 

18.3 

28.4 

19.8 

20.1 

26.4 

22.4 

22.5 

26.0 

18.9 

20.5 

16.9 

25.3 

20.3 

22.6 

23.6 

20.1 

21.1 

23.5 

20.7 

27.0 

20.5 

25.0 

28.5 

20.2 

17.9 

16.8 

2.1 

0.5 

1.2 

2.4 

2.5 

0.7 

1.1 

0.6 

0.9 

2.2 

1.1 

0.3 

0.4 

0.7 

na 

0.9 

na 

1.9 

2.1 

0.6 

0.8 

0.4 

1.5 

0.6 

3.3 

4.1 

1.8 

3.4 

-5.5 

-5.1 

3.1 

0.0 

-5.2 

-0.6 

-7.2 

-3.9 

1.7 

0.3 

-3.3 

-7.7 

-4.7 

8.8 

-6.1 

-3.8 

2.6 

-0.8 

-3.1 

-10.3 

-5.5 

0.2 

-8.3 

8.4 

5.0 

-2.1 

na 

-5.5 

-5.1 

3.1 

0.0 

-4.9 

0.0 

-5.6 

-3.2 

1.7 

0.4 

-3.2 

-7.2 

-4.7 

8.4 

-5.5 

-3.7 

1.8 

-1.1 

-3.1 

-9.4 

-5.3 

0.2 

-7.9 

8.4 

4.9 

-1.9 

na 

12.8 

na 

42.1 

20.9 

na 

-210.6 

na 

na 

na 

23.3 

na 

18.6 

17.5 

na 

23.9 

-14.5 

14.2 

33.5 

12.5 

37.2 

7.1 

na 

na 

6.3 

54.5 

27.6 

na 

5.8 

8.8 

6.9 

1.4 

8.7 

9.2 

1.2 

4.7 

na 

1.3 

1.7 

1.6 

3.6 

na 

7.5 

6.4 

13.0 

3.1 

3.0 

5.2 

2.9 

1.8 

7.0 

3.0 

4.8 

3.7 

-3.1 

na 

-3.6 

0.6 

-2.0 

-3.1 

na 

na 

-2.2 

-1.5 

-1.5 

na 

na 

-1.9 

na 

-4.2 

-2.3 

na 

-1.9 

-1.6 

na 

-3.1 

-3.6 

-6.7 

-1.9 

-1.3 

0.5 

0.6 

: 
: 
: 

-2.6 

6.7 

5.2 

-0.9 

2.7 

-2.0 

0.6 

2.0 

: 
: 

1.8 

: 

9.6 

4.3 

-0.7 

: 

3.4 

: 

0.8 

13.9 

1.0 

: 
: 

1.8 

9.3 

11.4 

2.9 

6.2 

-2.6 

8.0 

-4.2 

3.9 

2.4 

2.5 

5.9 

7.2 

21.0 

4.2 

7.8 

-5.3 

1.9 

5.9 

2.9 

3.4 

11.7 

6.1 

6.7 

1.5 

1.4 

2.8 

44 

-0.6 

4.9 

3.4 

-0.2 

1.2 

5.4 

2.1 

4.1 

0.3 

0.0 

0.1 

1.8 

6.1 

10.9 

-2.9 

3.9 

-3.2 

0.4 

1.0 

3.5 

0.2 

6.8 

2.4 

2.9 

0.9 

-0.8 

2.0 

1.4 

-0.8 

-0.2 

0.8 

0.3 

0.8 

3.1 

0.1 

3.2 

1.4 

1.5 

2.1 

1.6 

-3.3 

2.5 

0.3 

1.8 

1.9 

0.7 

-2.2 

1.8 

-0.9 

0.6 

1.0 

1.4 

2.1 

0.8 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

: 
: 
: 

na 

na 

na 

na 

na 

na 

na 

na 

: 
: 

na 

: 

na 

na 

na 

: 

na 

: 

na 

na 

na 

: 
: 

18.4 

na 

na 

20.3 

na 

na 

53.4 

na 

28.4 

25.7 

23.7 

na 

na 

na 

30.1 

na 

na 

52.7 

na 

na 

23.8 

na 

na 

na 

9.7 

31.2 

37.8 

na 

1.8 

3.3 

4.3 

6.2 

2.1 

8.6 

6.8 

9.4 

5.2 

4.8 

5.3 

2.3 

1.6 

2.5 

4.4 

4.5 

6.1 

5.0 

2.8 

7.8 

1.1 

3.4 

3.5 

5.6 

2.3 

2.7 

111 

29 

53 

177 

128 

62 

123 

65 

114 

107 

84 

164 

48 

29 

na 

63 

na 

188 

127 

37 

166 

27 

59 

49 

97 

152 

na 

267 

738 

1201 

371 

441 

251 

134 

300 

307 

255 

208 

602 

838 

619 

na 

660 

na 

204 

413 

532 

372 

674 

501 

2178 

356 

228 

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 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

1.4 

4.7 

2.1 

0.5 

0.0 

6.6 

5.6 

3.4 

2.7 

0.9 

0.5 

2.1 

7.2 

6.8 

4.1 

4.5 

2.8 

0.1 

1.7 

1.4 

0.8 

5.1 

3.8 

4.6 

1.8 

2.5 

2.4 

19.1 

18.3 

27.5 

19.6 

18.4 

29.7 

21.6 

23.4 

26.3 

18.2 

21.1 

18.2 

24.2 

20.4 

22.5 

23.4 

16.0 

20.0 

22.0 

18.7 

25.6 

21.3 

23.3 

27.4 

18.7 

17.4 

16.9 

1.9 

0.5 

1.2 

2.5 

2.5 

0.7 

1.1 

na 

1.0 

2.2 

1.1 

0.3 

0.4 

0.7 

na 

1.0 

0.3 

1.9 

2.1 

0.6 

0.7 

0.4 

1.5 

0.6 

3.4 

na 

1.8 

4.5 

-2.4 

-5.3 

2.5 

2.0 

4.2 

-2.4 

-5.3 

2.6 

2.0 

-10.6 

-10.1 

-1.0 

-6.5 

-3.3 

1.0 

-0.4 

-3.8 

-6.7 

-5.1 

10.5 

-7.0 

2.4 

2.6 

2.7 

-2.8 

-8.2 

-3.3 

1.0 

-7.9 

8.5 

4.7 

-1.7 

-0.6 

-5.5 

-2.2 

1.0 

-0.4 

-3.6 

-6.5 

-4.7 

10.1 

-6.7 

2.6 

2.5 

2.5 

-2.8 

-6.8 

-3.1 

0.3 

-7.4 

8.5 

4.7 

-1.6 

na 

9.5 

na 

31.1 

21.6 

na 

6.4 

5.8 

10.8 

3.8 

2.7 

3.9 

-210.2 

23.8 

na 

25.7 

na 

27.6 

na 

20.9 

13.2 

0.0 

5.7 

na 

1.2 

10.1 

2.8 

5.1 

-2413.1 

510.1 

22.8 

-28.3 

4.5 

-10.3 

26.0 

26.6 

16.9 

40.2 

10.4 

na 

na 

4.0 

50.5 

35.2 

5.7 

0.2 

2.1 

1.4 

2.5 

7.0 

16.4 

6.0 

4.9 

1.6 

-2.5 

0.5 

-2.5 

0.8 

-1.7 

-2.5 

na 

-2.3 

-2.1 

-1.4 

-1.4 

-3.6 

-3.6 

-1.8 

na 

-2.4 

-2.8 

-0.4 

-1.8 

-1.5 

na 

-1.9 

-2.8 

-5.5 

-1.7 

-1.4 

na 

-0.3 

: 
: 
: 

-3.3 

6.0 

7.3 

-1.2 

2.9 

-1.8 

0.7 

3.1 

: 
: 

1.6 

: 

5.6 

5.0 

-0.7 

: 

3.8 

: 

2.5 

20.5 

0.6 

: 
: 

4.4 

6.7 

-1.4 

0.3 

0.4 

0.1 

1.0 

-18.8 

-2.0 

-2.3 

-6.9 

-8.7 

1.6 

14.8 

-1.8 

0.0 

2.8 

-3.3 

0.0 

1.0 

6.7 

13.2 

2.9 

1.4 

-0.5 

-3.9 

-1.9 

45 

1.5 

4.4 

1.5 

0.4 

0.6 

5.1 

4.0 

1.2 

0.4 

0.1 

-0.8 

0.0 

4.2 

3.1 

0.8 

4.6 

2.2 

0.3 

2.2 

4.6 

0.2 

-0.1 

0.2 

0.7 

0.0 

-0.6 

1.3 

1.6 

2.3 

2.5 

0.3 

2.9 

2.1 

2.9 

4.0 

2.0 

0.1 

0.6 

0.3 

-0.1 

-3.0 

0.5 

17.1 

na 

na 

18.4 

7.7 

na 

12.7 

95.3 

30.1 

11.6 

19.2 

na 

351.1 

na 

24.4 

na 

33.6 

23.8 

6.0 

258.8 

48.6 

17.0 

-11.8 

16977.9 

2.2 

4.5 

0.9 

2.4 

1.7 

1.6 

0.2 

0.9 

0.0 

0.8 

na 

na 

1.9 

19.2 

19.8 

na 

: 
: 
: 

na 

na 

na 

na 

na 

na 

na 

na 

: 
: 

na 

: 

na 

na 

na 

: 

na 

: 

na 

na 

na 

: 
: 

17.6 

na 

na 

16.8 

na 

na 

39.5 

na 

38.1 

27.1 

28.4 

na 

na 

22.4 

32.6 

na 

na 

39.8 

na 

na 

14.2 

na 

na 

na 

8.6 

27.6 

44.4 

na 

2.1 

3.2 

4.3 

5.8 

2.5 

8.8 

7.4 

9.9 

5.3 

4.9 

5.7 

1.9 

1.3 

2.3 

4.8 

4.7 

5.8 

4.6 

2.8 

7.4 

1.5 

3.1 

3.3 

5.3 

2.5 

3.1 

110 

33 

55 

176 

127 

68 

141 

68 

121 

106 

87 

173 

51 

30 

na 

66 

na 

192 

127 

45 

169 

31 

60 

53 

105 

164 

na 

345 

895 

1387 

441 

574 

227 

147 

398 

380 

277 

272 

676 

824 

612 

na 

536 

na 

250 

402 

425 

397 

692 

516 

1954 

370 

286 

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 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

0.8 

5.5 

3.8 

0.4 

-0.4 

7.8 

3.9 

5.9 

3.1 

0.9 

0.0 

1.9 

7.6 

10.3 

1.7 

3.9 

0.1 

0.3 

0.9 

3.9 

-0.9 

5.2 

2.9 

4.8 

2.0 

2.3 

3.8 

18.9 

19.0 

26.8 

19.3 

17.8 

31.6 

22.4 

24.2 

27.2 

18.3 

20.5 

17.8 

24.7 

21.2 

22.1 

22.4 

19.3 

19.5 

22.8 

18.2 

23.6 

21.5 

24.1 

24.7 

18.9 

16.8 

16.4 

1.9 

0.5 

1.2 

2.6 

2.5 

0.8 

1.2 

0.6 

1.1 

2.2 

1.1 

0.4 

0.4 

0.7 

1.7 

0.9 

0.3 

1.9 

2.2 

0.5 

0.7 

0.4 

1.3 

0.6 

3.4 

3.8 

1.8 

3.4 

-5.3 

-6.0 

3.4 

1.9 

3.1 

-5.3 

-6.0 

3.4 

1.9 

-11.3 

-10.6 

0.0 

-6.5 

-3.5 

0.4 

-0.8 

-2.3 

-8.2 

-6.7 

8.1 

-8.0 

-3.0 

5.5 

1.7 

-2.5 

-6.4 

-5.9 

-0.8 

-5.9 

4.8 

6.9 

-1.6 

0.1 

-5.8 

-2.5 

0.0 

-0.6 

-2.0 

-7.6 

-6.4 

7.7 

-8.1 

-2.7 

5.0 

1.7 

-2.5 

-4.6 

-22.4 

-1.4 

-5.6 

4.9 

6.9 

-1.5 

-34.8 

10.7 

-2.2 

-1.3 

8.5 

na 

21.2 

16.7 

13.0 

6.8 

2.2 

1.3 

1.3 

9.4 

-214.0 

14.3 

49.8 

29.3 

na 

28.8 

0.6 

24.2 

12.9 

0.7 

2.9 

na 

1.1 

6.8 

2.7 

1.0 

-2359.3 

306.1 

29.0 

-81.0 

19.6 

23.9 

21.6 

37.7 

13.9 

na 

na 

-6.1 

53.7 

34.3 

2.6 

18.9 

3.9 

2.8 

2.1 

4.4 

14.1 

1.0 

6.5 

2.0 

1.7 

1.5 

na 

na 

0.9 

-1.9 

-2.2 

na 

na 

-1.8 

-1.4 

-1.3 

-2.3 

-4.1 

na 

na 

-2.4 

na 

na 

-2.0 

-1.8 

na 

-2.5 

-3.1 

-4.8 

-1.8 

-1.5 

0.4 

: 
: 
: 

-3.5 

3.9 

6.2 

3.0 

2.6 

-1.2 

1.1 

-0.2 

: 
: 

0.5 

: 

-4.7 

5.1 

-1.2 

: 

4.4 

: 

2.3 

16.0 

-0.8 

: 
: 

-4.8 

14.1 

2.5 

-6.1 

-2.6 

24.0 

-4.4 

-2.2 

-1.5 

-6.4 

-6.4 

-5.6 

0.1 

3.3 

1.7 

1.0 

-7.7 

-1.3 

-3.7 

9.1 

3.6 

4.2 

-2.0 

10.8 

-7.0 

-1.2 

-3.2 

46 

0.9 

2.5 

4.6 

1.5 

0.5 

6.3 

2.0 

4.7 

0.5 

0.7 

-0.7 

-1.9 

5.5 

7.9 

-0.1 

3.9 

-0.9 

1.5 

0.4 

5.1 

-0.3 

5.3 

3.2 

3.7 

2.0 

2.9 

2.8 

0.0 

3.0 

-0.6 

-1.1 

-0.9 

1.5 

1.9 

1.2 

3.2 

-0.2 

2.7 

3.8 

2.0 

2.3 

0.9 

1.3 

1.0 

-0.6 

0.6 

-1.2 

-0.4 

-0.5 

-0.3 

1.8 

0.1 

-0.6 

0.9 

12.7 

na 

103.5 

20.0 

4.8 

218.1 

12.8 

76.2 

27.0 

11.7 

21.9 

na 

89.7 

300.4 

22.0 

na 

33.3 

24.7 

3.7 

179.1 

45.8 

6985.7 

na 

na 

7.7 

17.6 

21.2 

na 

: 
: 
: 

na 

na 

na 

na 

na 

na 

na 

na 

: 
: 

na 

: 

na 

na 

na 

: 

na 

: 

na 

na 

na 

: 
: 

19.2 

na 

na 

13.1 

na 

na 

38.7 

37.3 

49.6 

30.5 

30.8 

na 

122.5 

60.0 

37.4 

na 

29.4 

22.5 

na 

na 

7.2 

na 

na 

na 

11.1 

22.3 

45.3 

na 

2.1 

3.2 

4.9 

5.6 

3.1 

10.5 

7.7 

10.7 

5.4 

5.1 

6.5 

1.4 

1.4 

2.6 

5.0 

4.7 

5.7 

4.4 

2.7 

6.2 

1.7 

2.9 

3.0 

5.8 

2.6 

3.2 

110 

42 

49 

178 

127 

75 

130 

72 

132 

106 

91 

169 

60 

35 

na 

78 

na 

200 

129 

47 

176 

33 

64 

49 

110 

167 

na 

345 

540 

678 

364 

502 

284 

159 

331 

365 

258 

255 

767 

952 

823 

na 

528 

na 

259 

375 

415 

338 

613 

494 

1518 

329 

235 

597 

 
Table 42: Additional indicators used in the economic reading of the MIP scoreboard, 2004 

Year 
2004 

% 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 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

3.3 

6.7 

4.7 

2.3 

1.2 

6.3 

4.4 

4.4 

3.3 

2.5 

1.7 

4.2 

8.9 

7.4 

4.4 

4.8 

-0.5 

2.2 

2.6 

5.3 

1.6 

8.5 

4.4 

5.1 

4.1 

4.2 

2.9 

19.9 

20.4 

25.9 

19.3 

17.4 

30.9 

24.4 

22.9 

28.1 

18.7 

20.6 

19.2 

27.7 

22.4 

21.4 

22.7 

19.5 

18.8 

22.3 

18.1 

23.2 

21.8 

25.0 

24.0 

19.3 

17.0 

16.7 

1.9 

0.5 

1.2 

2.5 

2.5 

0.9 

1.2 

0.6 

1.1 

2.2 

1.1 

0.4 

0.4 

0.8 

1.6 

0.9 

0.5 

1.9 

2.2 

0.6 

0.7 

0.4 

1.4 

0.5 

3.5 

3.6 

1.7 

3.2 

-6.4 

-5.0 

3.0 

4.7 

3.0 

-5.6 

-5.5 

3.0 

4.7 

-11.3 

-10.6 

-0.6 

-5.8 

-5.2 

0.5 

-0.3 

-5.0 

-0.4 

-4.5 

-4.2 

0.6 

-0.2 

-4.2 

-12.9 

-11.8 

-7.6 

11.9 

-8.3 

-5.9 

7.6 

2.2 

-5.3 

-8.3 

-8.3 

-2.6 

-7.8 

6.2 

6.6 

-2.1 

-6.4 

9.6 

-8.2 

-4.4 

7.4 

2.1 

-4.8 

-6.9 

-7.5 

-3.0 

-7.5 

6.3 

6.7 

-1.9 

-40.9 

2.5 

na 

20.7 

12.9 

17.6 

-200.7 

53.4 

35.1 

na 

28.6 

-22.9 

29.9 

13.3 

12.0 

10.2 

4.4 

-4.3 

-0.4 

8.0 

-5.7 

0.9 

2.4 

1.6 

1.0 

7.0 

4.6 

3.4 

-2454.5 

230.8 

33.1 

-87.3 

21.4 

22.5 

16.2 

39.5 

8.2 

-3.4 

na 

-6.4 

52.4 

41.9 

4.4 

7.0 

0.8 

1.3 

5.1 

1.0 

8.5 

2.4 

7.2 

1.5 

3.4 

2.6 

na 

0.9 

-1.8 

1.1 

-1.9 

na 

-1.5 

-2.4 

-2.1 

-1.7 

-1.5 

-3.6 

-4.7 

0.1 

na 

-2.1 

-3.2 

-2.0 

-2.2 

-1.6 

na 

-3.0 

-3.5 

-4.1 

-1.6 

-1.3 

0.1 

-1.4 

: 
: 
: 

-3.0 

2.3 

5.0 

4.0 

3.2 

0.0 

1.5 

0.8 

: 
: 

1.6 

: 

-4.9 

1.5 

-1.2 

: 

2.7 

: 

1.0 

23.1 

-2.8 

: 
: 

-3.5 

2.3 

3.2 

-7.6 

0.3 

15.6 

-2.7 

7.0 

-6.2 

-6.2 

-4.1 

-4.9 

-0.9 

-6.3 

0.7 

4.7 

-7.5 

-3.5 

-0.3 

3.6 

-1.9 

3.7 

2.1 

-3.0 

-2.2 

0.7 

-5.2 

47 

2.2 

4.1 

5.1 

2.9 

0.9 

6.4 

0.9 

1.9 

0.4 

2.4 

1.4 

0.4 

7.6 

7.4 

2.1 

5.8 

0.2 

3.3 

1.6 

4.2 

1.6 

10.3 

4.0 

5.3 

3.7 

5.0 

1.8 

1.1 

2.6 

-0.5 

-0.7 

0.3 

0.3 

3.4 

2.4 

3.6 

0.4 

0.4 

3.7 

1.1 

-0.1 

1.0 

-0.5 

-0.7 

-0.9 

0.6 

1.3 

0.1 

-1.1 

0.7 

0.3 

0.4 

-0.7 

1.1 

11.2 

na 

78.3 

23.6 

3.9 

118.4 

18.0 

62.6 

29.2 

13.6 

24.1 

na 

40.1 

136.2 

20.1 

na 

34.4 

24.9 

1.1 

106.8 

43.4 

3181.5 

na 

88.3 

9.4 

15.5 

24.4 

-2.9 

23.6 

: 
: 
: 

-13.1 

93.2 

5.3 

41.5 

11.5 

-1.8 

8.9 

9.8 

: 
: 

5.9 

: 

17.2 

11.2 

-11.4 

: 

24.5 

: 

81.3 

67.7 

-5.3 

: 
: 

na 

na 

16.5 

na 

na 

43.1 

22.8 

59.9 

39.4 

32.8 

na 

129.9 

48.3 

37.5 

na 

48.1 

15.0 

na 

na 

2.4 

na 

na 

na 

21.9 

24.0 

50.3 

na 

2.0 

3.4 

5.2 

5.4 

3.8 

12.1 

7.3 

11.3 

5.7 

5.2 

7.4 

2.0 

2.3 

2.4 

5.4 

5.2 

5.9 

4.4 

2.6 

6.0 

1.6 

3.2 

2.8 

6.4 

2.9 

3.7 

110 

59 

50 

186 

123 

86 

146 

78 

143 

107 

94 

168 

71 

40 

na 

78 

138 

202 

128 

41 

176 

33 

68 

49 

113 

165 

na 

295 

395 

627 

338 

504 

227 

177 

309 

370 

254 

263 

927 

1002 

743 

na 

465 

479 

275 

350 

314 

310 

591 

469 

1298 

321 

238 

755 

 
Table 43: Additional indicators used in the economic reading of the MIP scoreboard, 2005 

Year 
2005 

% 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 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

1.8 

6.4 

6.8 

2.4 

0.7 

8.9 

5.9 

2.3 

3.6 

1.8 

0.9 

3.9 

10.1 

7.8 

5.3 

4.0 

3.7 

2.0 

2.4 

3.6 

0.8 

4.2 

4.0 

6.7 

2.9 

3.2 

2.8 

20.7 

25.7 

25.8 

19.5 

17.3 

32.1 

26.7 

20.7 

29.4 

19.3 

20.9 

19.4 

31.0 

22.9 

20.4 

22.8 

21.8 

18.9 

21.9 

18.2 

23.0 

23.7 

25.4 

26.5 

20.1 

17.9 

16.6 

1.8 

0.5 

1.4 

2.5 

2.5 

0.9 

1.3 

0.6 

1.1 

2.1 

1.1 

0.4 

0.6 

0.8 

1.6 

0.9 

0.6 

1.9 

2.5 

0.6 

0.8 

0.4 

1.4 

0.5 

3.5 

3.6 

1.7 

2.0 

-11.6 

-1.0 

4.3 

5.1 

-10.0 

-3.5 

-7.6 

-7.4 

-0.5 

-0.9 

-5.9 

1.7 

-10.6 

-0.8 

4.5 

5.0 

-9.2 

-3.3 

-6.6 

-6.5 

-0.5 

-0.8 

-5.4 

-12.6 

-11.2 

-7.1 

11.5 

-7.2 

-8.7 

7.4 

2.2 

-2.4 

-10.3 

-8.6 

-1.7 

-8.5 

3.4 

6.8 

-2.6 

-5.8 

14.6 

-6.5 

-5.5 

7.1 

2.1 

-2.1 

-9.2 

-7.9 

-2.1 

-8.5 

3.5 

6.8 

-2.5 

-37.7 

11.3 

-14.6 

22.1 

9.8 

18.4 

-209.8 

59.2 

44.5 

1.4 

32.4 

-26.6 

35.8 

15.9 

9.1 

14.9 

9.0 

5.0 

1.7 

20.6 

-15.6 

0.3 

2.2 

4.0 

1.1 

7.0 

4.4 

3.9 

-2522.1 

311.5 

37.0 

-87.5 

18.7 

22.0 

14.7 

47.5 

8.3 

3.1 

na 

-5.0 

57.5 

45.3 

7.0 

11.3 

7.5 

25.6 

3.4 

2.0 

6.5 

1.6 

5.1 

2.4 

3.1 

7.7 

-4.4 

0.8 

-2.1 

1.7 

-2.5 

-2.4 

-1.9 

-3.4 

-2.8 

-2.2 

-1.8 

-4.7 

-5.1 

-2.3 

na 

-3.0 

na 

-4.3 

-3.0 

-2.3 

-3.8 

-2.7 

-4.8 

-5.6 

-2.3 

-1.6 

na 

-0.2 

: 
: 
: 

-2.0 

3.2 

2.4 

3.7 

3.3 

0.1 

1.1 

1.1 

: 
: 

3.4 

: 

-3.9 

-1.0 

-0.7 

: 

1.2 

: 

-0.4 

25.1 

-3.9 

: 
: 

-3.8 

-4.0 

3.9 

0.3 

-0.1 

11.0 

-3.3 

-5.2 

-5.2 

-4.6 

-4.3 

-2.8 

12.5 

9.3 

-3.3 

3.6 

-7.0 

-1.5 

-0.4 

0.2 

-10.7 

-0.2 

2.8 

2.2 

-0.7 

-1.3 

0.0 

48 

0.3 

3.6 

4.6 

1.4 

0.8 

6.7 

0.9 

-0.7 

0.1 

1.1 

0.8 

0.3 

8.4 

5.2 

2.3 

4.3 

2.1 

2.1 

1.6 

1.4 

1.1 

5.8 

4.5 

5.0 

1.5 

2.9 

1.7 

1.4 

2.7 

1.5 

0.6 

-0.1 

1.9 

4.9 

3.0 

4.1 

0.8 

0.3 

3.6 

1.5 

2.6 

1.2 

0.0 

1.5 

0.4 

1.2 

2.3 

0.0 

-0.3 

-0.6 

2.1 

1.3 

0.3 

1.0 

12.5 

3243.3 

64.2 

24.5 

0.8 

77.2 

26.4 

50.4 

29.9 

14.5 

25.2 

34.9 

64.3 

57.4 

19.8 

159.0 

26.0 

23.9 

1.7 

63.9 

38.9 

2832.8 

68.2 

71.5 

9.7 

15.3 

25.0 

-0.9 

30.9 

: 
: 
: 

-16.1 

57.9 

15.0 

31.5 

12.8 

-0.2 

11.0 

16.0 

: 
: 

6.0 

: 

10.5 

11.2 

-9.6 

: 

20.9 

: 

50.7 

54.6 

-3.9 

: 
: 

na 

na 

32.2 

na 

na 

44.5 

19.6 

57.3 

48.4 

30.4 

na 

76.5 

106.3 

41.2 

na 

49.7 

12.2 

na 

na 

4.1 

na 

na 

na 

24.2 

27.1 

36.5 

na 

3.1 

3.4 

6.0 

5.1 

4.9 

13.6 

9.4 

11.9 

5.9 

5.6 

8.4 

2.5 

2.2 

2.2 

4.6 

5.6 

6.1 

4.4 

2.7 

6.0 

2.0 

3.7 

2.9 

6.8 

3.2 

4.2 

108 

75 

51 

202 

121 

97 

168 

90 

161 

112 

101 

204 

91 

50 

na 

91 

140 

209 

132 

43 

185 

39 

78 

52 

123 

173 

na 

299 

305 

648 

287 

449 

274 

192 

300 

406 

250 

251 

963 

1028 

656 

na 

410 

465 

270 

300 

269 

290 

480 

528 

1513 

264 

217 

775 

 
Table 44: Additional indicators used in the economic reading of the MIP scoreboard, 2006 

Year 
2006 

% 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 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2.7 

6.5 

7.0 

3.4 

3.7 

10.1 

5.4 

5.5 

4.1 

2.5 

2.2 

4.1 

11.2 

7.8 

4.9 

3.9 

3.2 

3.4 

3.7 

6.2 

1.4 

7.9 

5.8 

8.3 

4.4 

4.3 

2.6 

20.9 

27.6 

25.7 

21.7 

18.1 

36.0 

27.1 

22.6 

30.6 

20.0 

21.4 

20.6 

32.9 

25.3 

19.2 

21.7 

22.0 

19.7 

21.3 

19.7 

22.3 

25.6 

26.5 

26.5 

20.0 

18.7 

17.0 

1.9 

0.5 

1.5 

2.5 

2.5 

1.1 

1.3 

0.6 

1.2 

2.1 

1.1 

0.4 

0.7 

0.8 

1.7 

1.0 

0.6 

1.9 

2.4 

0.6 

1.0 

0.5 

1.6 

0.5 

3.5 

3.7 

1.7 

1.9 

-17.6 

-2.0 

3.0 

6.3 

-15.3 

-3.5 

-11.4 

-9.0 

-0.6 

-1.5 

-7.0 

-22.5 

-10.6 

10.4 

-7.4 

-9.8 

9.4 

2.8 

-3.8 

-10.7 

-10.4 

-2.5 

-7.8 

4.2 

8.4 

-3.4 

1.8 

-16.9 

-1.7 

3.0 

6.2 

-13.2 

-3.4 

-9.9 

-8.3 

-0.6 

-1.4 

-6.8 

-21.3 

-9.4 

9.5 

-6.6 

-6.8 

9.0 

2.5 

-3.2 

-9.9 

-10.5 

-2.9 

-7.9 

4.3 

7.7 

-3.3 

-44.2 

15.5 

-9.9 

33.6 

0.2 

27.5 

-202.4 

63.1 

57.8 

-0.8 

36.5 

-43.7 

44.2 

19.8 

14.7 

23.5 

3.7 

1.0 

1.9 

10.7 

-2.5 

2.0 

2.5 

3.2 

2.1 

10.1 

8.4 

6.0 

-2614.3 

302.0 

43.0 

-90.6 

6.1 

28.9 

14.9 

19.3 

17.6 

54.8 

11.0 

10.9 

na 

-3.2 

46.5 

47.3 

1.2 

1.2 

5.7 

5.4 

9.2 

1.7 

8.4 

3.7 

6.9 

6.4 

na 

na 

na 

2.1 

-2.9 

na 

-2.1 

-3.6 

-3.3 

-2.5 

-2.1 

-5.5 

-5.7 

-3.3 

na 

-6.3 

na 

-3.4 

-3.6 

-2.4 

-3.9 

-3.0 

-5.1 

-6.4 

-3.2 

-1.8 

-0.4 

0.6 

: 
: 
: 

-1.2 

6.2 

1.0 

3.5 

3.8 

-0.4 

0.3 

1.0 

: 
: 

3.6 

: 

0.9 

-1.8 

-0.5 

: 

0.7 

: 

-0.1 

21.1 

-4.1 

: 
: 

-4.8 

-9.6 

4.2 

-0.7 

3.4 

-2.6 

-4.6 

-3.9 

-3.0 

-4.2 

-1.3 

-6.1 

-3.2 

2.6 

3.3 

9.4 

8.1 

-1.7 

-1.9 

5.0 

0.4 

0.8 

2.9 

11.3 

2.5 

0.5 

2.0 

49 

1.5 

3.1 

5.6 

1.3 

3.1 

4.5 

1.0 

3.5 

0.6 

1.3 

0.6 

2.3 

5.9 

5.9 

1.3 

3.4 

1.8 

1.7 

2.9 

3.0 

0.9 

7.1 

4.2 

6.1 

2.5 

2.6 

1.7 

1.1 

3.3 

1.3 

2.0 

0.6 

6.2 

4.4 

1.9 

4.0 

1.3 

1.6 

1.7 

5.2 

1.7 

1.6 

0.7 

1.3 

1.6 

1.7 

3.4 

0.7 

1.4 

1.3 

3.8 

1.8 

1.7 

0.9 

14.3 

1677.4 

46.4 

24.3 

-1.4 

63.0 

32.5 

40.4 

30.3 

15.1 

21.4 

31.7 

59.6 

36.0 

17.9 

118.1 

25.7 

23.9 

3.1 

34.0 

34.7 

1974.2 

58.4 

61.8 

9.6 

9.6 

27.6 

1.4 

33.3 

: 
: 
: 

-17.7 

46.4 

24.3 

22.9 

14.4 

1.4 

8.2 

14.5 

: 
: 

5.0 

: 

12.4 

12.3 

-7.1 

: 

17.7 

: 

43.5 

47.5 

-2.9 

: 
: 

na 

na 

59.0 

na 

na 

43.1 

28.2 

54.9 

48.8 

25.2 

na 

60.9 

146.6 

34.9 

na 

58.4 

12.9 

na 

na 

5.0 

na 

49.3 

na 

25.0 

34.3 

25.4 

na 

5.7 

3.5 

6.6 

5.3 

6.8 

14.0 

10.3 

12.5 

6.4 

5.8 

8.7 

3.4 

2.5 

2.4 

3.8 

6.4 

6.3 

4.3 

2.8 

5.6 

1.8 

3.9 

2.3 

7.0 

3.6 

4.1 

106 

94 

56 

215 

118 

116 

214 

98 

185 

116 

107 

200 

115 

62 

135 

98 

147 

211 

132 

49 

192 

45 

84 

55 

125 

175 

na 

266 

169 

658 

278 

422 

412 

192 

295 

433 

240 

252 

598 

1096 

727 

61 

378 

468 

246 

284 

217 

277 

505 

461 

1219 

227 

212 

732 

 
Table 45: Additional indicators used in the economic reading of the MIP scoreboard, 2007 

Year 
2007 

% 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 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2.9 

6.4 

5.7 

1.6 

3.3 

7.5 

5.4 

3.5 

3.5 

2.3 

1.7 

5.1 

9.6 

9.8 

6.6 

0.1 

4.6 

3.9 

3.7 

6.8 

2.4 

6.3 

7.0 

10.5 

5.3 

3.3 

3.6 

21.7 

28.7 

27.0 

21.7 

18.4 

35.5 

25.6 

26.6 

30.7 

20.9 

21.5 

22.1 

34.1 

28.1 

20.8 

21.8 

21.6 

20.0 

21.4 

21.6 

22.2 

30.2 

27.8 

26.2 

21.3 

19.6 

17.7 

1.9 

0.5 

1.5 

2.6 

2.5 

1.1 

1.3 

0.6 

1.3 

2.1 

1.2 

0.4 

0.6 

0.8 

1.6 

1.0 

0.6 

1.8 

2.5 

0.6 

1.2 

0.5 

1.5 

0.5 

3.5 

3.4 

1.8 

1.9 

-25.2 

-4.3 

1.4 

7.4 

-15.9 

-5.4 

-14.6 

-10.0 

-1.0 

-1.3 

-11.8 

-22.4 

-14.4 

10.1 

-7.3 

-6.3 

6.7 

3.5 

-6.2 

-10.1 

-13.5 

-4.8 

-5.3 

4.3 

9.1 

-2.5 

1.5 

-27.1 

-3.7 

1.4 

7.5 

-14.9 

-5.3 

-12.7 

-9.6 

-0.9 

-1.2 

-11.7 

-20.4 

-12.7 

9.7 

-6.6 

-5.0 

6.5 

3.6 

-5.1 

-8.9 

-12.8 

-4.9 

-4.7 

4.3 

9.0 

-2.3 

-39.7 

32.7 

-7.3 

34.8 

-4.1 

35.0 

-213.1 

69.3 

68.5 

3.1 

41.4 

-19.8 

49.6 

29.6 

20.3 

29.4 

5.8 

3.8 

2.4 

12.4 

9.6 

0.7 

4.5 

3.7 

1.9 

10.3 

8.1 

5.1 

-2678.6 

372.4 

50.9 

-86.8 

20.4 

22.5 

20.7 

64.0 

20.9 

20.4 

na 

-2.1 

47.1 

43.7 

2.9 

13.4 

15.3 

16.6 

5.5 

1.3 

5.8 

3.2 

4.8 

5.1 

6.2 

7.0 

na 

-7.5 

na 

1.9 

-2.4 

-3.5 

-2.4 

-3.5 

-3.1 

-2.3 

-1.9 

-5.7 

-4.6 

-4.2 

na 

-4.6 

na 

-2.1 

-2.9 

na 

na 

-2.6 

-4.8 

-5.0 

-2.6 

-1.7 

-0.4 

0.5 

: 
: 
: 

-0.6 

9.5 

1.4 

3.3 

3.6 

-1.3 

-0.1 

-0.4 

: 
: 

3.0 

: 

-0.7 

-1.7 

-0.5 

: 

0.6 

: 

2.0 

21.8 

-2.9 

: 
: 

-3.1 

4.0 

3.3 

-5.2 

0.0 

5.0 

0.5 

-1.0 

-1.2 

-5.7 

-1.7 

-1.8 

2.1 

-4.8 

1.2 

7.1 

2.0 

-1.7 

0.9 

1.2 

3.6 

-0.1 

5.8 

6.4 

0.2 

-1.7 

-9.3 

50 

1.2 

3.2 

3.5 

-1.1 

1.5 

6.6 

1.7 

2.1 

0.5 

0.9 

0.7 

1.8 

5.8 

6.8 

2.0 

1.7 

2.8 

1.7 

1.9 

1.7 

1.4 

3.6 

1.4 

3.0 

1.7 

1.2 

3.2 

2.8 

2.3 

2.6 

-0.6 

-0.1 

1.3 

1.7 

1.9 

2.2 

2.4 

5.9 

3.5 

8.2 

3.1 

1.0 

2.9 

3.2 

2.0 

1.8 

4.4 

0.2 

1.4 

3.2 

2.4 

2.1 

2.3 

0.7 

16.5 

105.7 

35.7 

28.6 

-1.0 

77.6 

38.7 

31.9 

33.1 

16.9 

20.0 

28.5 

88.5 

26.6 

20.0 

95.2 

27.4 

24.4 

4.4 

20.5 

31.1 

1030.2 

54.5 

47.6 

11.3 

13.3 

27.3 

2.7 

: 
: 
: 

-18.0 

58.2 

28.8 

16.0 

16.4 

2.5 

5.9 

11.0 

: 
: 

6.0 

: 

13.5 

11.9 

-6.5 

: 

13.0 

: 

39.2 

33.6 

-2.1 

: 
: 

31.6 

102.0 

28.4 

49.9 

na 

139.4 

37.7 

31.7 

44.8 

37.6 

19.4 

na 

111.1 

185.8 

23.9 

na 

59.4 

13.6 

na 

na 

5.8 

na 

65.2 

na 

22.5 

38.5 

24.4 

na 

5.3 

4.1 

6.3 

5.3 

6.2 

11.6 

12.5 

12.2 

6.7 

5.8 

8.9 

4.7 

2.8 

2.9 

4.1 

6.4 

6.4 

4.3 

3.0 

5.0 

2.4 

4.2 

2.4 

6.9 

3.9 

4.2 

114 

130 

61 

224 

114 

128 

220 

107 

200 

120 

115 

221 

120 

76 

164 

111 

147 

209 

134 

56 

203 

58 

98 

64 

129 

193 

na 

305 

215 

643 

342 

430 

397 

204 

314 

536 

304 

352 

511 

993 

776 

62 

389 

610 

264 

289 

214 

299 

511 

422 

1002 

252 

241 

899 

 
Table 46: Additional indicators used in the economic reading of the MIP scoreboard, 2008 

Year 
2008 

% 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 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

1.0 

6.2 

3.1 

-0.8 

1.1 

-4.2 

-2.1 

-0.2 

0.9 

-0.1 

-1.2 

3.6 

-3.3 

2.9 

-0.7 

0.9 

4.0 

1.8 

1.4 

5.1 

0.0 

7.3 

3.4 

5.8 

0.3 

-0.6 

-1.0 

22.3 

33.6 

26.8 

21.0 

18.6 

30.3 

22.0 

22.6 

28.7 

21.3 

21.0 

22.9 

29.7 

25.3 

21.4 

21.7 

17.8 

20.5 

21.6 

22.3 

22.5 

31.9 

28.6 

24.8 

21.4 

20.0 

16.8 

2.0 

0.5 

1.4 

2.9 

2.7 

1.3 

1.5 

na 

1.4 

2.1 

1.2 

0.4 

0.6 

0.8 

1.7 

1.0 

0.6 

1.8 

2.7 

0.6 

1.5 

0.6 

1.7 

0.5 

3.7 

3.7 

1.8 

-1.3 

-23.1 

-2.1 

2.9 

6.2 

-9.2 

-5.7 

-1.8 

-22.3 

-1.4 

2.9 

6.2 

-7.8 

-5.7 

-73.1 

48.9 

-3.9 

30.8 

-1.6 

37.7 

38.2 

19.0 

2.9 

0.5 

0.2 

7.3 

-160.8 

-6.3 

-14.9 

-13.2 

-9.6 

-1.7 

-2.9 

-15.6 

-13.1 

-12.9 

5.4 

-7.3 

-5.0 

4.3 

4.9 

-6.6 

-12.6 

-11.5 

-6.2 

-6.2 

2.6 

9.1 

-1.4 

-9.1 

-1.7 

-2.9 

-15.6 

-11.7 

-11.1 

4.7 

-6.3 

-4.6 

3.8 

4.9 

-5.4 

-11.1 

-11.1 

-6.2 

-4.9 

2.7 

8.9 

-1.2 

76.3 

76.2 

20.7 

40.6 

-4.0 

57.1 

35.2 

1.3 

4.8 

2.3 

-0.5 

5.6 

3.8 

4.1 

-2517.0 

193.6 

57.5 

-72.7 

29.2 

29.0 

29.4 

75.2 

27.7 

30.9 

17.5 

12.1 

68.9 

37.9 

4.1 

9.8 

0.5 

1.7 

2.8 

1.9 

6.8 

3.6 

5.0 

-0.4 

7.6 

3.5 

-5.4 

-8.4 

-4.3 

1.7 

-3.5 

-4.2 

na 

-4.9 

-3.7 

-2.9 

-2.2 

-7.1 

-5.9 

-5.8 

-4.6 

-6.3 

na 

-2.1 

-3.6 

na 

-4.7 

-2.9 

-6.3 

-6.0 

-3.5 

-2.0 

na 

1.3 

: 
: 
: 

-1.2 

14.6 

1.2 

2.9 

3.1 

-1.2 

0.1 

-0.6 

: 
: 

2.1 

: 

0.7 

-2.2 

-0.6 

: 

0.0 

: 

4.1 

26.9 

-1.0 

: 
: 

-4.8 

7.1 

1.1 

0.5 

-0.2 

4.9 

-3.9 

0.1 

-3.9 

-3.5 

-5.7 

-2.9 

-0.8 

8.6 

1.1 

2.9 

-1.2 

-2.2 

-1.4 

4.2 

0.1 

5.4 

0.1 

0.3 

3.0 

-2.9 

-1.6 

51 

-0.8 

3.5 

0.8 

-2.4 

-0.1 

-4.3 

-1.1 

-1.4 

1.1 

-0.4 

-0.8 

1.4 

-4.2 

3.6 

-5.5 

2.7 

1.3 

0.3 

-0.4 

1.2 

-0.5 

7.3 

0.8 

2.4 

-2.2 

-1.5 

-1.7 

1.8 

3.3 

1.3 

1.5 

1.2 

0.3 

-1.1 

1.2 

-0.1 

-0.2 

0.2 

2.1 

0.6 

-1.1 

3.4 

-1.2 

2.6 

1.2 

2.0 

3.7 

0.5 

20.3 

54.2 

31.2 

32.0 

1.1 

95.0 

42.9 

32.1 

38.2 

20.7 

28.1 

31.4 

126.6 

31.3 

32.6 

82.4 

29.2 

24.7 

8.3 

17.9 

31.4 

-0.3 

684.4 

2.4 

3.2 

2.6 

0.9 

0.7 

56.8 

47.2 

17.3 

16.8 

26.7 

3.1 

: 
: 
: 

-19.2 

67.5 

27.4 

14.6 

16.4 

2.7 

10.3 

9.7 

: 
: 

10.4 

: 

11.1 

8.6 

-5.8 

: 

9.6 

: 

36.3 

29.3 

0.2 

: 
: 

21.6 

84.8 

43.5 

20.8 

-1.3 

63.1 

14.6 

24.1 

25.2 

20.3 

14.0 

32.1 

59.4 

105.3 

14.3 

11.3 

61.2 

11.7 

9.7 

101.7 

7.5 

106.7 

53.0 

77.9 

14.2 

28.5 

16.8 

na 

6.1 

4.3 

5.3 

5.2 

4.3 

8.6 

8.3 

10.8 

6.7 

5.8 

9.2 

4.6 

3.4 

3.6 

3.6 

4.7 

6.3 

4.4 

3.2 

4.6 

3.2 

4.6 

2.3 

6.3 

3.5 

4.0 

131 

147 

68 

237 

114 

144 

259 

119 

207 

127 

119 

237 

123 

78 

192 

141 

154 

209 

139 

69 

216 

67 

108 

69 

144 

220 

na 

622 

416 

760 

591 

614 

454 

294 

1275 

860 

426 

742 

1286 

1063 

1000 

77 

645 

725 

295 

433 

415 

382 

804 

625 

1154 

457 

457 

1807 

 
Table 47: Additional indicators used in the economic reading of the MIP scoreboard, 2009 

Year 
2009 

% 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 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-2.8 

-5.5 

-4.5 

-5.8 

-5.1 

-14.1 

-5.5 

-3.1 

-3.7 

-3.1 

-5.5 

-1.9 

-17.7 

-14.8 

-4.1 

-6.8 

-2.4 

-3.7 

-3.8 

1.6 

-2.9 

-6.6 

-7.8 

-4.9 

-8.5 

-5.0 

-4.0 

20.8 

28.9 

24.6 

18.6 

17.2 

21.4 

15.9 

19.9 

23.6 

19.5 

19.4 

20.5 

21.6 

17.2 

19.0 

20.7 

15.7 

19.0 

20.7 

21.2 

20.6 

24.4 

23.1 

20.7 

19.7 

18.0 

14.9 

2.0 

0.5 

1.5 

3.2 

2.8 

1.4 

1.8 

na 

1.4 

2.3 

1.3 

0.5 

0.5 

0.8 

1.7 

1.2 

0.5 

1.8 

2.7 

0.7 

1.6 

0.5 

1.9 

0.5 

3.9 

3.6 

1.9 

-1.4 

-8.9 

-2.4 

3.4 

5.9 

3.4 

-2.3 

-11.2 

-4.8 

-1.3 

-2.0 

-10.7 

8.6 

3.7 

7.2 

-0.2 

-7.5 

5.2 

2.7 

-3.9 

-10.9 

-4.2 

-0.7 

-2.6 

1.8 

6.7 

-1.5 

-1.8 

-7.6 

-1.0 

3.4 

5.9 

6.9 

-3.1 

-10.3 

-4.4 

-1.3 

-2.0 

-10.4 

11.1 

7.1 

6.4 

0.9 

-5.8 

5.1 

2.7 

-2.2 

-10.1 

-3.6 

-0.7 

-1.9 

1.9 

6.6 

-1.2 

-105.4 

12.9 

49.6 

-1.3 

28.2 

-7.7 

34.7 

7.0 

1.5 

1.3 

0.7 

9.6 

-213.5 

11.5 

88.2 

88.2 

21.3 

45.2 

1.3 

58.7 

37.0 

0.8 

0.7 

0.9 

1.0 

14.8 

0.4 

0.0 

-2902.1 

408.3 

63.4 

-87.4 

24.4 

23.0 

32.0 

84.8 

34.6 

37.2 

22.2 

23.1 

73.5 

46.2 

1.6 

9.1 

4.8 

2.4 

3.0 

1.2 

2.9 

-1.3 

0.0 

0.3 

2.5 

3.3 

na 

-5.3 

-2.9 

0.8 

-2.5 

na 

-2.4 

-3.0 

-2.4 

-2.0 

-2.7 

-5.1 

-4.5 

-4.2 

na 

-4.9 

na 

-1.8 

-2.5 

-2.3 

na 

-1.6 

-4.0 

-4.4 

-2.5 

-1.3 

-0.4 

0.6 

: 
: 
: 

-0.9 

11.4 

-1.5 

2.6 

1.1 

-1.1 

0.5 

-1.2 

: 
: 

1.0 

: 

1.5 

-1.0 

-0.2 

: 

-1.7 

: 

4.0 

24.8 

1.1 

: 
: 

-0.9 

1.8 

0.2 

0.4 

-3.4 

-12.9 

6.0 

-9.3 

-0.2 

-2.0 

-7.3 

-0.8 

-3.9 

-2.3 

-0.7 

0.0 

-0.3 

0.5 

-4.1 

3.4 

-2.2 

3.7 

-7.0 

-5.8 

-11.3 

-0.8 

0.7 

52 

-2.6 

-2.9 

-2.8 

-3.5 

-5.2 

-4.5 

2.9 

-2.5 

2.9 

-1.6 

-2.7 

-1.3 

-5.3 

-8.6 

-5.1 

-4.4 

-2.1 

-2.6 

-2.3 

1.2 

-0.3 

-4.7 

-6.1 

-3.0 

-6.1 

-2.7 

-2.4 

-0.2 

-2.6 

-1.5 

-2.1 

0.1 

-9.2 

-8.1 

-0.6 

-6.5 

-1.7 

-1.7 

-0.5 

23.2 

74.1 

31.2 

36.4 

6.2 

90.1 

36.8 

35.8 

37.6 

24.1 

32.1 

34.4 

-12.7 

103.7 

-6.9 

1.3 

-2.5 

-0.3 

-0.6 

-0.7 

0.4 

-2.8 

-1.5 

-1.4 

-2.8 

-2.6 

-2.0 

-1.6 

27.6 

41.3 

76.8 

35.8 

29.1 

13.6 

15.3 

32.4 

455.9 

62.8 

49.4 

26.9 

23.4 

29.8 

2.0 

: 
: 
: 

-17.5 

56.7 

18.8 

14.7 

12.0 

2.2 

10.1 

11.4 

: 
: 

15.0 

: 

13.0 

8.6 

-4.8 

: 

7.6 

: 

36.7 

27.9 

4.6 

: 
: 

11.6 

28.2 

29.1 

-14.3 

-0.1 

-31.5 

-18.9 

11.0 

0.9 

-0.2 

7.2 

10.4 

-13.6 

2.0 

5.6 

-0.8 

28.6 

2.5 

6.7 

43.4 

5.8 

3.2 

18.4 

32.7 

8.3 

17.2 

1.4 

na 

5.3 

3.9 

4.2 

5.3 

3.5 

4.9 

6.6 

8.1 

6.0 

5.6 

7.3 

3.2 

3.3 

3.8 

3.3 

3.4 

5.7 

4.5 

2.9 

4.0 

3.0 

3.9 

2.9 

5.7 

3.0 

3.3 

133 

153 

70 

251 

117 

157 

283 

122 

214 

135 

126 

256 

143 

85 

313 

150 

164 

224 

147 

69 

226 

73 

116 

74 

156 

231 

na 

491 

369 

648 

461 

523 

468 

236 

954 

761 

345 

680 

1465 

847 

785 

55 

538 

580 

227 

351 

349 

376 

676 

605 

1140 

373 

317 

1010 

 
Table 48: Additional indicators used in the economic reading of the MIP scoreboard, 2010 

Year 
2010 

% 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 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2.4 

0.4 

2.5 

1.3 

4.2 

3.3 

-0.8 

-4.9 

-0.3 

1.7 

1.8 

1.3 

-0.9 

1.5 

2.9 

1.3 

3.4 

1.6 

2.1 

3.9 

1.4 

-1.6 

1.2 

4.4 

3.3 

6.6 

1.8 

20.0 

22.8 

24.5 

17.2 

17.4 

19.1 

11.9 

17.6 

22.3 

19.4 

19.6 

19.1 

18.2 

16.4 

18.4 

18.3 

17.4 

17.3 

20.5 

19.9 

19.8 

24.0 

20.1 

21.0 

18.9 

18.0 

14.9 

2.0 

0.6 

1.6 

3.1 

2.8 

1.6 

1.7 

na 

1.4 

2.2 

1.3 

0.5 

0.6 

0.8 

1.5 

1.2 

0.7 

1.9 

2.8 

0.7 

1.6 

0.5 

2.1 

0.6 

3.9 

3.4 

1.8 

1.9 

-1.5 

-3.9 

5.9 

6.0 

2.9 

1.1 

-10.1 

-4.5 

-1.6 

-3.5 

-9.8 

2.9 

0.1 

8.2 

1.1 

-5.0 

7.7 

3.4 

-5.1 

-10.0 

-4.4 

-0.6 

-3.7 

1.5 

6.7 

-3.3 

1.7 

-0.7 

-3.0 

5.9 

6.0 

6.5 

0.7 

-9.2 

-3.9 

-1.6 

-3.6 

-9.6 

4.9 

2.7 

7.6 

2.8 

-3.3 

7.5 

3.5 

-3.3 

-8.9 

-4.2 

-0.4 

-2.2 

1.6 

6.5 

-3.1 

-122.0 

18.2 

43.6 

0.1 

25.7 

-5.9 

23.4 

-297.4 

102.9 

91.7 

28.0 

51.4 

8.0 

54.1 

35.5 

3.2 

3.1 

-3.7 

1.4 

8.4 

20.7 

0.1 

2.9 

1.2 

0.4 

3.3 

1.6 

2.2 

-3145.0 

420.1 

61.1 

-167.6 

37.4 

28.5 

33.1 

83.3 

37.9 

40.2 

21.2 

28.3 

62.8 

46.2 

1.7 

11.7 

-1.3 

0.2 

3.0 

1.2 

1.8 

0.8 

2.0 

2.8 

-0.2 

2.3 

-3.1 

-0.5 

-1.2 

0.5 

-16.7 

na 

na 

-2.0 

-6.9 

-10.6 

-11.6 

na 

-0.2 

-0.4 

na 

-1.2 

na 

-3.1 

-2.2 

na 

na 

-0.5 

-0.4 

-0.8 

-1.2 

-1.1 

na 

1.9 

: 
: 
: 

-1.4 

8.0 

-5.3 

5.1 

1.0 

-0.1 

0.8 

0.5 

: 
: 

1.8 

: 

3.5 

-0.9 

0.2 

: 

-2.1 

: 

3.3 

12.8 

2.1 

: 
: 

-4.6 

-13.8 

3.4 

-9.8 

0.7 

4.3 

-6.7 

-8.8 

0.5 

-3.7 

-1.4 

-6.9 

-1.5 

4.3 

-10.2 

1.3 

4.7 

-1.2 

-4.7 

-0.9 

-13.7 

1.0 

-3.5 

3.5 

-5.2 

-3.9 

-5.7 

53 

1.7 

5.3 

3.5 

3.6 

3.6 

8.5 

3.6 

-2.4 

2.0 

1.9 

2.7 

1.3 

4.0 

7.0 

1.1 

0.6 

1.0 

2.2 

1.5 

3.4 

3.0 

-0.2 

3.5 

6.0 

3.4 

5.3 

1.6 

0.7 

-4.7 

-0.2 

-2.1 

0.6 

-4.1 

-4.2 

-2.6 

-2.5 

1.0 

-0.7 

0.0 

-4.4 

-5.2 

1.7 

0.0 

2.4 

-0.4 

0.8 

0.6 

-1.5 

-0.3 

-1.9 

-2.0 

-0.1 

0.8 

0.3 

22.2 

81.1 

27.7 

34.5 

4.5 

73.4 

25.9 

33.0 

31.2 

23.2 

30.8 

32.9 

85.7 

29.1 

40.0 

57.3 

33.2 

24.5 

13.3 

11.7 

24.8 

263.8 

52.3 

32.7 

24.1 

14.5 

28.1 

3.8 

: 
: 
: 

-17.0 

47.0 

9.2 

13.0 

8.3 

4.0 

11.6 

9.8 

: 
: 

16.3 

: 

14.0 

6.6 

-3.0 

: 

4.1 

: 

30.1 

15.3 

5.0 

: 
: 

6.3 

-10.6 

6.4 

-14.3 

3.2 

-40.0 

-33.8 

2.8 

-9.9 

-1.5 

2.3 

-6.9 

-43.5 

-29.0 

5.1 

-7.8 

7.3 

-3.7 

3.2 

-7.3 

6.2 

-37.2 

-2.9 

-1.2 

8.6 

12.6 

-2.0 

na 

4.3 

4.2 

4.0 

5.3 

3.2 

3.1 

5.4 

7.1 

5.9 

5.5 

6.3 

1.7 

1.9 

3.5 

2.5 

2.7 

4.9 

4.5 

2.6 

3.8 

na 

3.2 

2.4 

6.7 

3.3 

3.1 

130 

152 

71 

244 

111 

145 

285 

125 

214 

137 

127 

272 

135 

76 

281 

134 

163 

224 

150 

71 

224 

75 

118 

73 

156 

217 

na 

497 

440 

572 

377 

496 

396 

188 

1882 

910 

359 

860 

1624 

840 

604 

45 

506 

344 

217 

325 

308 

459 

660 

581 

1046 

403 

266 

994 

 
 
Table 49: Additional indicators used in the economic reading of the MIP scoreboard, 2011 

Year 
2011 

% 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)  

1.8 

1.7 

1.9 

0.8 

3.0 

8.3 

1.4 

-7.1 

0.4 

1.7 

0.4 

0.5 

5.5 

5.9 

1.7 

1.6 

1.9 

1.0 

2.7 

4.3 

-1.7 

2.5 

0.6 

3.2 

2.7 

3.9 

0.9 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

.

20.7 

20.9 

23.9 

17.2 

18.1 

21.7 

10.1 

15.1 

21.1 

20.1 

19.6 

16.3 

21.3 

17.8 

19.0 

17.9 

14.8 

17.7 

21.4 

20.3 

18.1 

24.6 

18.5 

23.1 

19.6 

18.4 

14.2 

2.0 

0.6 

1.8 

3.1 

2.8 

2.4 

1.7 

na 

1.3 

2.3 

1.3 

0.5 

0.7 

0.9 

1.4 

1.2 

0.7 

2.0 

2.8 

0.8 

na 

0.5 

2.5 

0.7 

3.8 

3.4 

1.8 

-1.4 

0.3 

-2.8 

5.6 

5.7 

2.1 

1.1 

-9.9 

-3.5 

-2.0 

-3.1 

-4.7 

-2.2 

-3.7 

7.1 

0.9 

-0.3 

9.7 

0.6 

-4.9 

-6.5 

-4.4 

0.0 

0.1 

-1.6 

6.4 

-1.9 

-1.7 

1.6 

-2.5 

5.9 

5.7 

6.3 

1.0 

-8.6 

-3.0 

-2.0 

-3.0 

-4.5 

0.0 

-1.3 

6.8 

3.3 

0.7 

9.7 

0.4 

-2.9 

-5.3 

-3.9 

-0.3 

1.3 

-1.5 

6.3 

-1.7 

-127.6 

20.1 

33.9 

1.1 

18.0 

-2.9 

6.5 

-339.2 

98.0 

93.5 

36.1 

49.0 

37.9 

46.4 

32.3 

4.5 

2.5 

3.8 

1.1 

1.2 

5.2 

0.4 

2.0 

1.5 

1.6 

5.5 

5.1 

3.4 

-3022.2 

645.3 

52.6 

-158.3 

36.8 

24.4 

35.8 

83.4 

38.0 

37.5 

21.7 

30.9 

62.4 

45.2 

3.7 

4.7 

1.6 

3.5 

3.7 

4.4 

1.3 

2.0 

2.2 

1.0 

2.7 

2.3 

-3.7 

-0.6 

-1.4 

0.7 

-19.8 

na 

na 

-2.7 

-8.5 

-12.7 

-13.9 

na 

-0.2 

-0.5 

na 

-1.4 

0.0 

-4.6 

-2.8 

na 

na 

-0.7 

-0.5 

-1.0 

-1.4 

-1.6 

-2.2 

1.4 

: 
: 
: 

-0.9 

3.2 

-6.5 

4.5 

0.4 

-0.4 

0.9 

0.7 

: 
: 

2.0 

: 

1.8 

0.0 

1.2 

: 

-0.5 

: 

0.4 

5.0 

2.2 

: 
: 

-1.6 

5.2 

5.2 

1.2 

2.5 

25.7 

-1.7 

-6.0 

3.2 

-0.8 

-0.2 

-2.3 

6.8 

7.9 

-2.2 

2.7 

-4.8 

-1.9 

0.9 

1.5 

2.7 

4.1 

1.0 

5.0 

-6.6 

0.6 

-1.2 

54 

0.4 

6.1 

1.6 

1.2 

1.6 

1.2 

3.6 

-1.6 

2.2 

1.2 

0.3 

0.0 

14.8 

3.8 

-1.2 

1.2 

-0.5 

0.5 

1.3 

3.3 

-0.1 

2.0 

2.2 

1.4 

1.6 

1.6 

0.4 

1.3 

-4.2 

0.6 

-0.5 

1.4 

6.7 

-2.1 

-5.6 

-1.6 

0.5 

0.3 

0.4 

-8.4 

2.0 

2.6 

0.8 

2.5 

0.6 

1.7 

1.1 

-1.9 

-1.3 

-1.4 

1.5 

1.1 

2.2 

0.5 

20.3 

69.5 

23.2 

29.3 

5.5 

64.4 

15.4 

31.1 

25.3 

22.3 

28.3 

34.6 

94.4 

33.6 

35.7 

44.3 

23.7 

20.0 

13.2 

5.7 

19.4 

154.9 

38.9 

28.8 

21.9 

8.1 

26.2 

3.7 

: 
: 
: 

-14.1 

44.8 

0.1 

11.5 

4.3 

5.1 

11.1 

12.4 

: 
: 

14.0 

: 

7.0 

3.2 

-1.6 

: 

1.4 

: 

21.0 

12.6 

3.8 

: 
: 

5.1 

-32.4 

-5.0 

-11.9 

5.4 

-28.0 

-38.7 

-3.5 

-15.3 

3.5 

0.4 

-16.7 

-38.7 

-30.8 

6.5 

-8.5 

-4.6 

-7.5 

-2.9 

-7.6 

2.0 

-39.5 

-6.8 

-17.8 

11.1 

13.8 

-2.0 

na 

na 

3.8 

4.7 

5.6 

3.5 

2.6 

4.7 

6.4 

6.1 

5.5 

5.0 

1.5 

1.8 

3.4 

1.8 

2.5 

4.9 

4.4 

2.6 

3.4 

na 

3.0 

2.3 

6.8 

3.7 

3.2 

143 

136 

73 

238 

109 

132 

281 

125 

204 

139 

126 

281 

118 

67 

267 

147 

169 

224 

146 

77 

223 

71 

116 

76 

153 

216 

na 

641 

414 

624 

377 

524 

373 

158 

2728 

941 

461 

1172 

2539 

704 

633 

50 

562 

362 

231 

378 

377 

542 

662 

639 

1079 

616 

305 

1187 

 
Table 50: 3 year average of Current Account Balance as % of GDP 

2001 

2002 

2003 

2004 

2005 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

4.2 

-5.2 

-4.0 

2.2 

-1.0 

-4.9 

-0.3 

-6.2 

-3.6 

1.8 

0.4 

-3.5 

-7.1 

-7.1 

10.1 

-7.5 

-6.4 

2.8 

-1.1 

-5.5 

-9.8 

-4.4 

-1.9 

-5.8 

7.2 

4.4 

-2.4 

4.0 

-4.4 

-5.0 

2.3 

0.1 

-7.1 

-0.7 

-7.2 

-3.7 

1.3 

-0.1 

-4.1 

-6.4 

-5.2 

10.8 

-7.2 

-4.6 

2.4 

0.4 

-4.0 

-9.6 

-4.1 

-0.5 

-6.5 

8.2 

4.6 

-2.1 

3.8 

-4.4 

-5.5 

3.0 

1.3 

-9.0 

-0.5 

-6.8 

-3.6 

1.1 

-0.3 

-3.1 

-7.5 

-5.5 

9.1 

-7.0 

-1.5 

3.6 

1.2 

-2.8 

-8.3 

-4.9 

0.1 

-7.4 

7.2 

5.5 

-1.8 

3.7 

-4.7 

-5.4 

3.0 

2.9 

2.9 

-7.8 

-4.0 

3.6 

3.9 

2006 

2.3 

-11.9 

-2.7 

3.4 

5.3 

-11.1 

-10.9 

-12.2 

-0.5 

-6.3 

-4.0 

0.7 

-0.5 

-3.7 

-9.3 

-6.5 

10.2 

-7.8 

-2.2 

5.3 

2.2 

-3.5 

-7.7 

-5.9 

-0.8 

-7.2 

6.5 

6.1 

-1.8 

-1.4 

-6.7 

-5.4 

0.2 

-0.7 

-4.4 

-2.5 

-8.3 

-7.2 

-0.2 

-0.9 

-6.0 

-11.2 

-16.0 

-7.1 

10.5 

-7.8 

-5.9 

6.9 

2.0 

-3.4 

-8.4 

-7.6 

-1.7 

-7.4 

4.8 

6.8 

-2.1 

-8.4 

11.3 

-7.6 

-8.2 

8.1 

2.4 

-3.8 

-9.8 

-9.1 

-2.3 

-8.1 

4.6 

7.3 

-2.7 

2009 

-0.3 

-19.1 

-2.9 

2.5 

6.5 

-7.2 

-4.5 

2010 

-0.3 

-11.2 

-2.8 

4.1 

6.1 

-0.9 

-2.3 

2011 

-0.3 

-3.4 

-3.0 

5.0 

5.9 

2.8 

0.0 

-13.6 

-12.1 

-10.4 

-8.1 

-1.4 

-2.0 

-6.3 

-1.5 

-2.8 

-12.7 

-12.1 

-9.0 

-7.9 

7.5 

-4.9 

-6.3 

5.4 

3.7 

-5.5 

-11.2 

-9.7 

-3.9 

-4.7 

2.9 

8.3 

-1.8 

-0.5 

-3.0 

6.9 

-2.2 

-5.8 

5.7 

3.7 

-5.2 

-11.2 

-6.7 

-2.5 

-4.2 

2.0 

7.5 

-2.1 

-4.3 

-1.6 

-2.9 

-8.4 

3.1 

0.0 

7.5 

0.6 

-4.3 

7.5 

2.2 

-4.6 

-9.1 

-4.3 

-0.4 

-2.1 

0.6 

6.6 

-2.2 

2007 

1.9 

-18.1 

-2.4 

2.9 

6.3 

-13.8 

-4.1 

-11.2 

-8.8 

-0.7 

-1.2 

-8.2 

-19.2 

-10.7 

10.7 

-7.3 

-8.3 

7.8 

2.8 

-4.1 

-10.4 

-10.8 

-3.0 

-7.2 

3.9 

8.1 

-2.8 

2008 

0.8 

-22.0 

-2.8 

2.4 

6.6 

-13.5 

-4.9 

-13.6 

-9.5 

-1.1 

-1.9 

-11.5 

-19.4 

-12.7 

8.6 

-7.3 

-7.0 

6.8 

3.7 

-5.5 

-11.1 

-11.8 

-4.5 

-6.4 

3.7 

8.9 

-2.4 

55 

 
  
 
Table 51: Net International Investment Position as % of GDP 

2001 

na 

-27.1 

-10.0 

-16.6 

8.7 

-48.3 

-15.2 

-46.5 

-35.6 

-2.0 

-5.8 

na 

-37.6 

-34.4 

na 

-66.3 

13.6 

-13.4 

-25.6 

-29.5 

-47.5 

-25.0 

-2.2 

-18.4 

-82.2 

-25.0 

-13.4 

2002 

36.6 

-25.3 

-15.5 

-16.4 

5.1 

-54.1 

-17.9 

-52.9 

-41.6 

3.0 

-12.4 

10.6 

-41.3 

-32.6 

100.4 

-65.2 

34.6 

-24.3 

-20.1 

-34.9 

-54.6 

-21.2 

0.1 

-16.2 

-36.8 

-22.0 

-11.2 

2003 

36.6 

-26.3 

-19.6 

-12.1 

6.6 

-65.9 

-20.0 

-58.9 

-45.2 

-4.2 

-13.6 

4.3 

-43.8 

-33.1 

140.3 

-78.1 

39.6 

-1.7 

-14.3 

-41.7 

-57.5 

-27.1 

-5.9 

-24.5 

-26.4 

-20.0 

-10.3 

2004 

28.4 

-30.1 

-28.2 

-5.3 

10.7 

-86.5 

-17.9 

-67.0 

-51.9 

-4.7 

-15.8 

14.1 

-52.3 

-34.4 

113.1 

-85.4 

40.1 

3.7 

-17.3 

-41.6 

-64.1 

-26.4 

-7.8 

-31.0 

-10.0 

-25.0 

-18.4 

2005 

33.5 

-44.1 

-26.9 

3.9 

21.0 

-85.2 

-24.5 

-77.3 

-55.6 

1.1 

-16.8 

20.3 

-59.6 

-42.6 

127.8 

-94.4 

36.9 

-2.6 

-21.7 

-42.5 

-66.9 

-29.5 

-11.0 

-38.7 

-15.3 

-20.7 

-20.0 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2006 

29.4 

-58.0 

-32.3 

-0.2 

27.9 

-73.9 

-5.3 

-85.4 

-65.8 

1.1 

-22.2 

38.3 

-69.9 

-48.9 

131.6 

2007 

28.9 

-81.1 

-38.7 

-5.8 

26.5 

-72.0 

-19.6 

-96.1 

-78.1 

-1.5 

-24.5 

11.7 

-74.7 

-55.8 

95.5 

2008 

39.7 

-98.4 

-40.1 

-5.1 

25.4 

-76.7 

-76.2 

-76.8 

-79.3 

-12.9 

-24.1 

-15.1 

-79.0 

-51.6 

100.1 

2009 

54.2 

-101.8 

-46.0 

4.4 

33.8 

-81.9 

-93.0 

-89.6 

-93.7 

-9.4 

-25.3 

-30.4 

-82.7 

-57.3 

85.7 

2010 

64.4 

-95.4 

-48.2 

10.1 

34.9 

-72.8 

-88.9 

-98.4 

-88.9 

-7.8 

-24.0 

-35.6 

-80.3 

-55.4 

96.6 

2011 

65.7 

-85.6 

-49.3 

24.5 

32.6 

-57.8 

-96.0 

-86.1 

-91.7 

-15.9 

-20.6 

-71.3 

-73.3 

-52.6 

107.8 

-102.8 

-105.1 

-106.0 

-117.2 

-112.8 

-105.9 

28.0 

3.2 

-20.5 

-45.7 

-78.8 

-36.2 

-17.1 

-46.8 

-13.8 

-13.0 

-28.9 

18.1 

-6.0 

-18.2 

-50.1 

-87.9 

-47.1 

-21.8 

-46.2 

-27.9 

-1.5 

-22.9 

2.7 

4.2 

-16.9 

-56.3 

-96.2 

-53.4 

-35.7 

-57.4 

-9.7 

-10.5 

-7.0 

13.6 

16.7 

-8.0 

7.4 

22.6 

-8.1 

5.7 

35.5 

-2.3 

-58.8 

-65.4 

-63.5 

-110.4 

-107.3 

-105.0 

-62.2 

-39.6 

-66.7 

0.0 

-9.3 

-63.8 

-42.8 

-63.2 

11.8 

-7.4 

-62.5 

-41.2 

-64.4 

13.1 

-8.3 

-21.0 

-23.8 

-17.3 

56 

 
  
 
57 

 
 
Table 52: % Change (3 years) of Real Effective Exchange Rate with HIPC deflators 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-3.9 

11.5 

6.5 

-3.5 

-8.8 

2.6 

-2.2 

-5.2 

-2.1 

-7.7 

-5.7 

-3.5 

13.3 

16.0 

-1.6 

12.2 

-0.6 

0.0 

-5.0 

20.0 

-0.3 

-1.1 

-2.5 

9.6 

-4.7 

-12.0 

-2.3 

-1.9 

15.4 

20.6 

-1.1 

-5.8 

4.0 

4.5 

-3.5 

1.0 

-3.9 

-2.0 

0.8 

5.1 

15.2 

0.1 

20.5 

1.8 

3.2 

-3.2 

19.0 

2.3 

14.6 

0.2 

15.8 

-1.4 

-7.6 

-2.0 

5.2 

14.3 

14.9 

8.1 

5.0 

9.3 

5.3 

10.9 

8.5 

6.8 

6.4 

6.9 

4.9 

8.9 

3.5 

4.2 

4.8 

6.9 

17.5 

17.6 

12.0 

9.0 

8.8 

6.5 

8.8 

8.1 

-7.1 

6.7 

4.5 

20.1 

5.9 

10.9 

3.1 

-4.6 

9.6 

-1.6 

5.3 

17.8 

7.7 

0.3 

-7.6 

9.5 

9.7 

8.1 

9.9 

8.1 

-6.9 

4.2 

5.8 

17.7 

7.4 

7.2 

3.8 

-16.2 

8.2 

-1.4 

4.6 

26.8 

5.7 

10.3 

-1.6 

6.8 

7.9 

6.0 

6.9 

6.7 

-4.4 

1.0 

6.6 

9.2 

5.6 

3.3 

2.7 

-1.5 

5.3 

16.3 

1.7 

27.3 

2.5 

3.9 

-2.9 

1.5 

11.3 

11.5 

-0.5 

0.1 

6.5 

3.4 

2.5 

4.3 

0.8 

1.1 

1.3 

4.8 

0.9 

4.0 

3.0 

4.0 

-1.1 

-0.4 

13.7 

1.4 

29.4 

-0.7 

19.5 

-2.5 

-2.5 

3.1 

1.5 

12.1 

14.0 

0.1 

0.6 

9.5 

4.1 

1.9 

4.2 

0.2 

0.7 

0.2 

11.1 

4.5 

3.3 

8.0 

3.2 

-1.0 

-0.3 

18.7 

1.5 

37.6 

1.0 

19.4 

-1.4 

-2.6 

1.2 

4.4 

20.3 

24.4 

3.2 

2.4 

15.1 

8.0 

4.0 

6.2 

2.7 

3.2 

3.1 

24.0 

12.3 

4.0 

9.3 

7.0 

0.7 

1.0 

16.1 

2.7 

10.6 

4.2 

26.0 

2.4 

-0.9 

4.2 

18.6 

13.7 

5.7 

3.2 

13.7 

5.3 

5.1 

5.0 

2.9 

3.9 

3.7 

23.7 

16.9 

4.1 

8.0 

5.9 

2.8 

2.1 

-3.8 

1.3 

-4.9 

5.7 

27.1 

5.3 

-8.3 

1.4 

10.9 

12.8 

0.9 

-2.9 

6.2 

-4.9 

4.1 

0.8 

-1.2 

-0.9 

1.7 

8.7 

9.4 

2.0 

-0.3 

0.7 

-0.9 

-1.3 

-0.5 

-2.2 

-10.0 

2.4 

11.8 

0.2 

-2.6 

-10.4 

-19.9 

-19.7 

58 

-0.5 

3.1 

0.3 

-1.7 

-3.9 

0.8 

-9.1 

3.1 

-1.3 

-3.2 

-2.1 

-0.9 

-0.6 

3.6 

0.8 

-3.3 

-3.0 

-1.6 

-1.0 

-10.9 

-1.9 

-2.4 

-0.3 

4.3 

-1.3 

3.9 

-7.1 

 
  
 
59 

 
 
-12.5 

-15.7 

Table 53: % Change (5 years) in Export Market Shares 

2001 

2002 

2003 

2004 

2005 

2006 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

na 

0.4 

17.1 

-1.9 

-5.3 

48.7 

64.0 

72.5 

2.7 

-10.5 

-18.5 

-2.1 

14.9 

25.6 

26.0 

65.0 

-4.0 

-8.1 

-3.8 

20.3 

-6.5 

21.5 

-6.2 

21.4 

-4.9 

-11.6 

-2.4 

na 

11.7 

33.0 

12.6 

4.2 

23.7 

60.0 

55.0 

6.9 

-7.8 

-14.2 

1.7 

13.9 

23.3 

26.7 

43.0 

9.4 

-3.8 

6.6 

22.9 

1.4 

39.9 

5.4 

25.7 

-0.6 

-7.7 

-6.6 

na 

30.2 

23.1 

10.8 

2.4 

19.4 

26.6 

51.0 

5.8 

-13.1 

-13.4 

-0.7 

10.1 

37.3 

17.2 

43.0 

-3.4 

-2.3 

2.6 

21.7 

-2.6 

58.8 

3.4 

41.2 

-6.4 

-8.1 

na 

51.5 

44.1 

-1.2 

5.8 

36.5 

12.6 

21.6 

2.5 

-12.3 

-7.4 

-6.1 

29.8 

72.8 

16.4 

33.7 

na 

41.0 

42.1 

3.8 

11.3 

41.7 

5.9 

6.3 

5.5 

-9.5 

-5.2 

-2.3 

43.5 

77.7 

17.4 

30.9 

-15.2 

-21.6 

-2.4 

5.2 

55.1 

-2.7 

71.7 

16.4 

61.5 

-1.9 

-6.6 

1.7 

12.7 

48.2 

-3.7 

64.6 

27.0 

57.0 

-6.1 

-5.0 

na 

42.4 

26.6 

-3.0 

3.6 

37.8 

-4.8 

-3.2 

-16.0 

-12.5 

-17.9 

32.0 

50.4 

19.6 

16.9 

-9.5 

-4.4 

1.3 

37.5 

-5.4 

51.2 

17.6 

59.4 

-7.0 

-1.3 

2007 

-10.3 

43.4 

25.8 

-8.7 

2.0 

39.3 

3.8 

-3.2 

-18.0 

-9.3 

-11.2 

45.7 

30.7 

28.2 

20.8 

2008 

-14.0 

33.1 

22.0 

-8.2 

-5.3 

22.7 

-21.2 

1.1 

-13.6 

-21.5 

-16.3 

-14.9 

41.1 

39.9 

15.6 

13.9 

-12.1 

-10.8 

-2.7 

0.7 

42.2 

-5.5 

42.8 

18.7 

74.4 

-5.1 

0.0 

-9.4 

-5.6 

39.2 

-13.3 

41.6 

11.1 

52.1 

-5.6 

-8.6 

2009 

-10.7 

18.3 

10.1 

-5.1 

-4.6 

9.8 

-5.3 

-13.9 

-7.1 

-10.0 

-17.9 

-9.0 

31.7 

22.4 

10.6 

6.6 

11.2 

-6.3 

-8.4 

27.9 

-9.3 

32.7 

6.0 

39.8 

-14.9 

-15.1 

-21.1 

2010 

-14.1 

14.9 

10.2 

2011 

-10.2 

17.2 

8.4 

-15.0 

-16.9 

-7.2 

-0.8 

-12.7 

-20.0 

-10.6 

-13.4 

-19.2 

-19.4 

13.9 

13.7 

-0.6 

1.4 

19.4 

-8.2 

-8.4 

11.1 

-12.2 

-18.7 

-7.6 

-11.2 

-18.4 

-16.4 

23.6 

25.2 

-10.1 

-2.8 

11.7 

-8.2 

-14.8 

-12.7 

20.1 

-8.6 

21.2 

-4.5 

31.3 

-19.9 

-11.9 

-23.1 

12.8 

-9.5 

22.8 

-6.1 

20.9 

-22.9 

-11.6 

-24.2 

-11.2 

-12.1 

-10.7 

-11.0 

-18.6 

-24.2 

60 

 
  
 
Table 54: % Change (3 years) in Nominal ULC 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

6.2 

9.5 

10.0 

7.2 

1.5 

11.3 

8.0 

na 

8.1 

4.8 

4.8 

6.2 

-1.4 

-17.0 

10.0 

31.1 

na 

9.4 

0.4 

16.4 

11.0 

na 

22.2 

16.8 

5.0 

9.3 

8.6 

7.1 

11.3 

14.3 

8.4 

1.6 

11.1 

8.8 

na 

9.4 

7.0 

7.0 

9.6 

-4.9 

-16.6 

11.6 

34.2 

na 

13.2 

0.6 

8.9 

11.9 

138.7 

24.0 

17.1 

5.1 

11.1 

7.2 

7.8 

11.5 

14.8 

10.3 

2.0 

13.4 

11.7 

11.4 

9.3 

7.6 

10.7 

17.1 

2.1 

-0.8 

10.4 

27.4 

16.5 

12.8 

2.6 

0.7 

11.3 

75.2 

20.6 

11.3 

5.3 

5.9 

6.5 

2.7 

5.2 

12.7 

6.0 

1.1 

15.1 

10.2 

14.3 

8.5 

6.2 

9.8 

17.1 

10.5 

6.2 

4.8 

19.8 

8.9 

7.6 

1.1 

-7.5 

8.2 

24.5 

14.6 

11.2 

1.5 

-0.3 

5.4 

1.8 

9.5 

5.3 

4.9 

-0.5 

15.1 

13.7 

8.3 

8.8 

4.9 

8.7 

13.6 

29.2 

10.6 

4.8 

13.3 

7.5 

2.3 

2.2 

-5.1 

8.6 

52.3 

9.7 

11.0 

2.9 

-0.5 

5.9 

2.8 

11.1 

2.6 

4.9 

-3.4 

19.6 

12.9 

5.5 

9.2 

4.7 

6.5 

4.6 

42.9 

20.7 

4.8 

9.3 

5.2 

0.4 

1.8 

-2.9 

5.5 

32.1 

6.2 

8.5 

2.5 

-1.2 

7.0 

5.7 

19.0 

2.3 

9.4 

-3.7 

32.9 

12.8 

5.9 

11.0 

5.4 

6.1 

3.8 

71.4 

24.5 

5.2 

11.3 

3.7 

1.8 

3.5 

1.9 

5.7 

47.5 

5.2 

6.2 

3.1 

3.9 

7.2 

8.8 

26.7 

6.5 

13.6 

-0.6 

46.7 

14.8 

6.6 

13.4 

6.8 

8.3 

4.0 

79.4 

29.6 

12.5 

13.1 

8.1 

5.4 

6.1 

9.2 

5.6 

48.6 

10.3 

6.7 

7.7 

6.9 

8.5 

10.8 

38.5 

8.4 

17.7 

7.2 

36.2 

6.7 

14.5 

11.4 

8.8 

10.5 

7.0 

42.0 

15.9 

19.3 

14.0 

10.1 

10.2 

10.2 

12.8 

8.0 

45.7 

18.4 

10.9 

16.9 

12.1 

11.1 

8.0 

33.9 

5.7 

11.0 

6.8 

9.1 

-4.1 

11.5 

4.9 

7.7 

8.1 

7.2 

-0.3 

1.2 

19.2 

6.4 

8.2 

7.6 

8.9 

11.3 

5.1 

36.5 

15.9 

9.4 

14.4 

5.1 

10.0 

6.2 

20.3 

3.3 

4.7 

5.9 

-6.2 

-12.8 

4.1 

-2.1 

6.0 

4.4 

8.8 

-15.0 

-8.4 

12.5 

3.7 

5.8 

5.8 

5.9 

4.3 

0.9 

12.9 

8.3 

4.4 

9.1 

1.2 

8.1 

Note: For the indicator "% Change (3 years) in Nominal ULC", break in employment figures for Latvia in 2011.

61 

 
  
Table 55: % y-o-y change in deflated House Prices 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2.9 

na 

na 

3.4 

na 

na 

3.7 

11.4 

6.2 

5.8 

5.4 

na 

-1.0 

21.0 

11.8 

na 

2.7 

6.4 

na 

na 

1.9 

na 

na 

na 

-3.7 

5.6 

7.1 

5.2 

na 

na 

1.9 

na 

na 

5.1 

11.0 

12.6 

7.1 

6.5 

na 

71.7 

9.9 

7.9 

na 

6.4 

3.3 

na 

na 

-2.1 

na 

na 

na 

3.7 

4.7 

5.4 

na 

na 

1.9 

na 

na 

11.7 

2.0 

14.0 

9.6 

7.4 

na 

21.6 

19.9 

8.8 

na 

12.4 

1.3 

na 

na 

-1.7 

na 

na 

na 

7.0 

4.9 

15.3 

13.8 

6.1 

na 

na 

7.6 

na 

na 

9.8 

-0.5 

13.4 

12.9 

7.1 

na 

-3.4 

15.0 

11.3 

na 

17.7 

3.2 

na 

na 

-1.9 

na 

7.3 

na 

7.7 

8.6 

9.8 

9.8 

27.9 

0.0 

15.8 

na 

27.6 

9.9 

12.0 

10.0 

13.2 

5.2 

na 

23.1 

48.7 

8.1 

na 

6.9 

1.8 

na 

na 

-0.5 

na 

13.1 

na 

7.2 

7.8 

2.9 

5.6 

12.2 

5.3 

21.8 

-1.4 

42.1 

12.2 

9.3 

11.8 

9.7 

3.2 

8.8 

9.2 

34.8 

3.7 

1.6 

18.6 

2.0 

1.9 

35.0 

-1.0p 

46.0 

14.2 

11.5 

5.5 

11.3 

3.5 

4.4 

18.3 

15.8 

1.4 

-3.6 

11.8 

4.1 

1.9 

6.4 

4.4 

2.6 

8.2 

24.0 

25.7 

2.4 

-2.0 

18.7 

3.1 

1.6 

45.2 

-1.6p 

44.5 

17.4 

25.7 

3.6 

11.2 

8.2 

0.8 

16.7 

7.4 

-7.7 

-0.3 

-16.2 

-8.4 

0.3 

-4.9 

-2.0 

-0.4 

1.2 

-13.0 

-1.4 

-0.5 

-4.0 

7.5 

1.0 

-1.0 

-4.8s 

1.4p 

-19.0 

1.5 

12.8 

-2.5 

-1.8 

-4.2 

2009 

0.6 

-21.6 

-4.5 

-13.3 

0.8 

-36.4 

-12.9 

0.4 

-5.7 

-6.5 

-0.3 

-7.2 

-39.3 

-32.9 

-2.8 

-9.8s 

-6.7 

-3.8 

0.9s 

-5.2s 

2.8p 

-26.3s 

-10.4 

-12.8 

0.0 

0.6 

-9.1 

2010 

0.2 

-12.3p 

-2.0 

0.1 

-1.0 

3.0 

-10.5 

-6.5 

-3.9 

4.0 

-1.5b 

-7.7 

-9.3 

-8.7 

2.5 

-6.4 

-2.0 

-2.8 

-1.3 

-6.2s 

0.2p 

-14.5 

-1.3 

-4.9 

4.1 

6.7 

3.5 

2011 

-0.1 

-9.0p 

0.0 

-4.9 

1.4 

3.3 

-15.2 

-5.1 

-10.0 

3.8 

-2.0 

-8.5 

4.9 

2.4 

1.5 

-4.1 

-2.3 

-4.0 

-8.0 

-5.7s 

-3.6p 

-18.9 

1.0 

-5.6 

-0.3 

1.0 

-5.4 

Note:  

(i) Recent figures are based on the Eurostat house price index, in most cases going back to 2006. Earlier data were provided by the European Central Bank and OECD. 

62 

 
  
(ii) s = EUROSTAT estimates, b = break in series, p = provisional 

63 

 
 
Table 56: Private Sector Credit Flow as % of GDP 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

15.7 

15.7 

-3.2 

20.2 

4.8 

20.0 

na 

10.9 

18.7 

10.4 

8.4 

11.9 

8.9 

2.1 

na 

10.3 

na 

13.7 

7.9 

3.9 

21.9 

7.0 

na 

4.3 

2.1 

14.8 

15.8 

8.9 

5.5 

4.3 

12.7 

4.4 

22.1 

24.0 

7.7 

16.6 

4.7 

6.4 

14.7 

9.8 

3.7 

na 

15.3 

na 

12.2 

5.2 

0.9 

12.1 

8.8 

8.6 

8.0 

5.4 

-4.2 

18.5 

20.2 

14.3 

-3.5 

5.4 

0.3 

21.4 

9.5 

10.7 

17.1 

3.8 

7.0 

6.8 

14.3 

7.8 

na 

18.3 

na 

10.2 

6.8 

2.4 

9.2 

8.0 

8.7 

3.9 

8.9 

0.4 

3.9 

19.5 

5.8 

19.3 

-2.0 

27.1 

25.3 

11.9 

21.8 

6.8 

8.3 

10.8 

18.1 

10.0 

na 

12.8 

na 

7.0 

4.0 

2.1 

9.9 

9.2 

9.6 

3.1 

9.2 

7.5 

17.7 

18.6 

3.3 

21.9 

3.3 

24.9 

-0.9 

26.8 

24.8 

15.0 

27.8 

9.0 

9.4 

46.7 

26.4 

15.5 

na 

17.4 

11.9 

14.6 

7.7 

4.5 

13.7 

12.0 

13.6 

7.9 

8.2 

14.9 

18.0 

17.8 

20.5 

7.2 

24.6 

0.9 

40.3 

34.5 

16.9 

37.0 

10.7 

10.9 

10.4 

43.0 

19.0 

14.1 

18.0 

17.1 

12.7 

7.2 

10.0 

16.5 

22.7 

13.9 

9.4 

13.2 

10.7 

21.0 

8.5 

19.1 

1.0 

-2.1 

1.8 

2.6 

2.4 

3.8 

-3.0 

-1.8 

1.3 

15.5 

-6.1 

-11.5 

176.3 

5.4 

11.3 

6.3 

-3.5 

3.9 

7.5 

7.9 

4.1 

2.8 

-1.3 

4.8 

-12.1 

20.9 

39.9 

8.7 

18.7 

3.6 

32.2 

25.0 

17.0 

27.0 

12.6 

13.1 

38.8 

36.6 

27.2 

33.4 

22.0 

4.6 

9.2 

15.5 

12.0 

24.6 

34.3 

23.5 

10.3 

15.1 

23.3 

19.6 

22.2 

41.1 

8.6 

18.1 

3.0 

13.0 

36.4 

16.5 

12.3 

9.1 

6.7 

38.3 

14.3 

9.4 

-37.6 

29.2 

18.1 

7.5 

6.6 

12.1 

21.8 

27.9 

18.3 

12.4 

20.5 

20.3 

11.9 

64 

2010 

13.7 

0.1 

2.1 

5.6 

3.1 

-4.4 

0.3 

0.7 

1.4 

1.8 

3.8 

23.7 

-8.7 

-5.6 

7.3 

-21.6 

6.8 

3.3 

6.8 

3.6 

4.5 

1.7 

1.8 

3.3 

6.9 

2.8 

1.9 

2011 

11.6 

-6.7 

2.5 

-2.2 

4.8 

6.8 

4.0 

-5.5 

-4.1 

4.0 

2.6 

16.1 

-2.5 

-0.8 

2.5 

6.4 

2.2 

0.7 

4.1 

7.1 

-3.2 

1.8 

1.9 

3.3 

4.6 

6.3 

1.0 

 
  
 
Table 57: Private Sector Debt as % of GDP 

2001 

2002 

2003 

2004 

2005 

179.5 

180.4 

193.9 

188.2 

185.0 

47.6 

59.5 

176.8 

133.0 

81.3 

150.0 

65.0 

132.5 

123.7 

86.5 

164.2 

49.5 

29.4 

na 

67.3 

na 

191.0 

127.2 

42.6 

184.0 

30.4 

64.4 

49.0 

124.6 

202.9 

157.3 

47.6 

61.4 

175.9 

135.9 

90.4 

160.7 

68.3 

139.5 

124.1 

89.5 

173.8 

54.4 

29.9 

na 

71.1 

na 

195.0 

126.8 

49.2 

187.9 

34.4 

66.7 

53.1 

126.7 

210.8 

167.5 

58.4 

55.8 

177.9 

135.5 

97.5 

153.7 

72.0 

147.8 

123.7 

93.4 

169.5 

61.8 

35.5 

na 

84.9 

na 

202.6 

128.9 

48.0 

192.6 

36.1 

70.6 

48.8 

134.0 

207.1 

173.0 

74.0 

56.6 

185.9 

131.1 

111.2 

171.3 

78.6 

159.9 

126.9 

97.6 

168.2 

74.5 

41.9 

na 

86.4 

178.1 

204.5 

128.1 

42.6 

193.1 

36.0 

75.3 

48.8 

137.4 

183.8 

182.9 

91.1 

57.2 

202.0 

128.2 

122.4 

192.8 

90.2 

176.6 

131.6 

103.5 

203.9 

94.8 

52.5 

na 

102.2 

180.6 

210.5 

132.3 

44.3 

200.2 

42.0 

85.2 

51.4 

141.6 

192.4 

194.4 

2006 

193.2 

100.0 

61.4 

215.0 

124.3 

150.1 

217.1 

98.0 

200.4 

136.8 

110.0 

199.7 

122.1 

64.5 

161.2 

110.8 

193.5 

212.6 

144.4 

52.3 

209.2 

67.7 

90.9 

55.1 

147.3 

192.9 

206.3 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2009 

228.6 

174.9 

75.7 

250.5 

130.5 

174.8 

311.3 

122.7 

226.8 

156.8 

128.2 

261.7 

147.4 

88.2 

373.2 

170.6 

213.1 

225.5 

158.4 

72.0 

252.3 

122.9 

126.5 

73.9 

179.3 

248.9 

219.7 

2010 

232.3 

170.1 

76.9 

244.0 

127.2 

148.5 

315.3 

125.2 

227.2 

158.6 

129.1 

278.1 

140.4 

80.3 

344.9 

154.0 

209.3 

225.3 

164.4 

74.2 

250.0 

76.4 

128.2 

72.8 

182.8 

232.8 

209.2 

2011 

235.7 

146.0 

78.1 

237.6 

127.8 

132.9 

309.5 

125.0 

217.9 

160.4 

128.6 

287.5 

125.1 

70.1 

326.3 

167.3 

209.9 

224.6 

160.7 

79.5 

249.4 

71.8 

128.3 

76.3 

178.8 

232.2 

204.6 

2007 

203.2 

131.8 

65.5 

224.1 

122.3 

158.7 

223.7 

107.6 

215.0 

142.5 

118.2 

220.6 

127.5 

81.5 

205.3 

125.7 

192.0 

210.9 

151.9 

58.6 

222.9 

106.6 

105.8 

64.3 

150.6 

210.3 

205.7 

2008 

217.3 

154.7 

73.0 

237.4 

123.6 

164.2 

279.0 

119.3 

220.5 

149.9 

122.1 

241.9 

132.1 

81.9 

221.2 

155.7 

200.7 

211.0 

156.5 

72.0 

240.3 

115.0 

117.4 

69.4 

168.9 

236.7 

221.2 

65 

 
  
 
Table 58: General Government Debt as % of GDP 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

106.5 

103.4 

66.0 

23.9 

49.6 

59.1 

4.8 

35.2 

52.4 

27.1 

49.5 

60.7 

5.7 

32.0 

103.7 

101.7 

55.6 

56.9 

52.6 

59.0 

98.4 

44.4 

28.6 

47.2 

64.4 

5.6 

30.7 

97.4 

48.8 

63.2 

94.0 

37.0 

28.9 

45.1 

66.2 

5.0 

29.5 

98.9 

46.3 

65.0 

92.0 

27.5 

28.4 

37.8 

68.5 

4.6 

27.3 

88.0 

21.6 

28.3 

32.1 

68.0 

4.4 

24.6 

84.0 

17.2 

27.9 

27.1 

65.2 

3.7 

25.0 

89.2 

13.7 

28.7 

33.4 

66.8 

4.5 

44.5 

95.7 

14.6 

34.2 

40.6 

74.5 

7.2 

64.9 

95.5 

16.2 

37.8 

42.9 

82.5 

6.7 

92.2 

101.2 

107.5 

107.2 

112.9 

129.7 

148.3 

43.2 

66.7 

39.7 

64.0 

36.3 

64.2 

40.2 

68.2 

53.9 

79.2 

61.5 

82.3 

97.8 

16.3 

40.8 

46.6 

80.5 

6.1 

106.4 

170.6 

69.3 

86.0 

108.2 

105.1 

103.9 

103.4 

105.7 

106.3 

103.3 

106.1 

116.4 

119.2 

120.7 

61.2 

14.1 

23.0 

6.3 

52.7 

60.5 

50.7 

66.8 

37.6 

53.8 

25.7 

26.5 

48.9 

42.5 

54.7 

37.8 

65.1 

13.6 

22.2 

6.3 

55.9 

59.1 

50.5 

66.2 

42.2 

56.8 

24.9 

27.8 

43.4 

41.5 

52.5 

37.7 

69.7 

14.7 

21.0 

6.1 

58.6 

67.6 

52.0 

65.3 

47.1 

59.4 

21.5 

27.2 

42.4 

44.5 

51.7 

39.1 

70.9 

15.0 

19.3 

6.3 

59.5 

71.7 

52.4 

64.7 

45.7 

61.9 

18.7 

27.3 

41.5 

44.4 

50.3 

41.0 

69.4 

12.5 

18.3 

6.1 

61.7 

69.7 

51.8 

64.2 

47.1 

67.7 

15.8 

26.7 

34.2 

41.7 

50.4 

42.2 

64.7 

10.7 

17.9 

6.7 

65.9 

64.0 

47.4 

62.3 

47.7 

69.4 

12.4 

26.4 

30.5 

39.6 

45.3 

43.3 

58.5 

36.7 

29.3 

15.3 

79.8 

67.6 

60.8 

69.2 

50.9 

83.2 

23.6 

35.0 

35.6 

43.5 

42.6 

67.8 

61.3 

44.5 

37.9 

19.2 

81.8 

68.3 

63.1 

72.0 

54.8 

93.5 

30.5 

38.6 

41.0 

48.6 

39.5 

79.4 

71.1 

42.2 

38.5 

18.3 

81.4 

70.9 

65.5 

72.4 

56.4 

108.1 

33.4 

46.9 

43.3 

49.0 

38.4 

85.0 

58.8 

9.0 

16.8 

6.7 

67.0 

61.9 

45.3 

60.2 

45.0 

68.4 

12.8 

23.1 

29.6 

35.2 

40.2 

44.2 

48.9 

19.8 

15.5 

14.4 

73.0 

62.0 

58.5 

63.8 

47.1 

71.7 

13.4 

22.0 

27.9 

33.9 

38.8 

52.3 

66 

 
  
 
Table 59: Unemployment rate – 3 year average 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

7.3 

na 

8.4 

4.7 

8.2 

12.5 

4.6 

11.3 

11.8 

9.2 

10.0 

na 

13.6 

16.1 

2.2 

6.2 

na 

3.0 

3.7 

7.0 

18.0 

8.0 

4.5 

8.2 

12.2 

4.2 

10.7 

11.2 

8.5 

9.2 

4.1 

13.1 

15.9 

2.2 

5.8 

7.3 

2.9 

3.8 

7.4 

17.2 

7.7 

4.8 

8.8 

11.0 

4.3 

10.2 

11.1 

8.5 

8.6 

4.0 

12.4 

14.5 

2.8 

5.6 

7.6 

3.3 

4.0 

8.0 

14.7 

7.8 

5.2 

9.7 

10.0 

4.5 

10.2 

11.2 

8.8 

8.3 

4.2 

11.8 

12.5 

3.8 

5.8 

7.5 

4.1 

4.5 

8.3 

12.0 

8.0 

5.2 

10.5 

9.2 

4.5 

10.0 

10.5 

9.2 

8.1 

4.8 

10.7 

10.7 

4.5 

6.3 

7.4 

4.8 

4.8 

8.4 

10.4 

7.8 

4.7 

10.7 

7.8 

4.4 

9.8 

9.5 

9.3 

7.5 

5.0 

9.3 

8.4 

4.7 

6.9 

7.1 

4.9 

5.0 

8.1 

8.6 

6.8 

4.2 

10.1 

6.1 

4.5 

9.0 

8.6 

9.0 

6.9 

4.7 

7.8 

6.1 

4.5 

7.3 

6.9 

4.4 

4.8 

7.6 

7.1 

5.6 

3.7 

8.8 

5.3 

5.1 

8.3 

9.4 

8.5 

6.5 

4.2 

7.3 

5.3 

4.6 

7.5 

6.5 

3.7 

4.3 

15.9 

18.1 

19.3 

19.6 

18.8 

16.9 

13.8 

10.2 

4.7 

6.5 

6.8 

4.9 

6.9 

6.4 

5.8 

6.9 

6.4 

6.8 

7.4 

6.5 

7.7 

7.3 

6.5 

8.2 

7.5 

6.3 

8.7 

6.9 

5.8 

8.7 

6.5 

5.1 

7.5 

6.5 

5.5 

4.4 

8.0 

8.0 

7.6 

8.5 

12.6 

8.6 

6.9 

4.4 

10.9 

8.0 

4.7 

8.4 

6.5 

3.5 

4.3 

8.3 

9.3 

6.4 

5.0 

18.3 

19.1 

18.7 

18.3 

17.5 

16.1 

13.7 

11.4 

11.0 

9.7 

6.1 

5.4 

9.3 

5.8 

5.2 

9.1 

6.1 

5.0 

9.0 

6.6 

4.9 

8.7 

7.2 

4.8 

8.3 

7.4 

5.0 

7.6 

7.0 

5.2 

7.0 

6.5 

5.4 

7.2 

6.9 

6.2 

7.7 

7.5 

6.1 

5.6 

7.5 

12.0 

10.6 

9.9 

16.5 

9.0 

7.6 

5.2 

15.3 

12.5 

4.9 

9.7 

6.6 

3.8 

4.3 

8.3 

10.4 

6.6 

5.9 

12.1 

7.7 

7.6 

7.0 

7.8 

9.4 

6.9 

7.0 

6.9 

14.4 

13.3 

13.2 

19.9 

9.6 

8.2 

6.6 

18.1 

15.6 

4.8 

10.7 

6.8 

4.2 

4.4 

9.2 

11.9 

7.2 

7.1 

13.4 

8.1 

8.1 

7.8 

67 

 
  
 
Table 60: % y-o-y change in Total financial sector liabilities, non-consolidated 

2001 

4.1 

6.6 

0.8 

6.5 

3.0 

13.3 

na 

0.8 

6.9 

5.2 

-3.0 

8.0 

20.2 

17.8 

na 

6.5 

na 

8.1 

5.3 

12.5 

6.2 

53.1 

na 

9.3 

8.3 

5.9 

5.1 

2002 

-3.9 

7.9 

8.6 

6.3 

-0.5 

24.5 

8.8 

0.2 

4.6 

1.6 

3.9 

-4.6 

24.7 

15.9 

na 

5.7 

na 

0.3 

0.7 

1.7 

2.6 

42.8 

24.3 

0.4 

3.3 

-3.3 

-0.6 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2003 

2004 

2005 

2006 

2007 

2008 

9.3 

22.1 

5.8 

9.0 

3.5 

13.4 

25.4 

8.6 

15.5 

6.4 

11.6 

8.9 

23.6 

31.6 

na 

19.8 

na 

9.4 

6.6 

17.1 

9.6 

28.0 

12.6 

6.8 

13.3 

10.4 

13.8 

15.3 

36.6 

5.8 

10.9 

3.6 

34.3 

20.4 

9.0 

15.1 

10.0 

7.2 

18.1 

35.6 

25.1 

na 

16.7 

na 

6.0 

11.3 

15.2 

2.8 

62.9 

11.5 

7.7 

14.6 

11.9 

30.0 

15.7 

34.3 

11.3 

21.1 

5.6 

23.4 

35.3 

16.8 

24.6 

15.1 

12.1 

37.8 

41.0 

48.9 

na 

21.1 

27.9 

14.8 

16.5 

19.4 

9.8 

46.7 

17.7 

19.1 

13.6 

14.9 

19.1 

11.0 

51.9 

3.6 

10.1 

4.8 

15.1 

20.4 

14.2 

19.0 

15.0 

10.5 

29.6 

47.8 

32.5 

na 

18.0 

14.3 

12.1 

10.0 

24.3 

11.3 

35.3 

13.8 

-7.5 

12.2 

12.0 

11.4 

12.1 

29.3 

15.5 

10.5 

5.9 

27.8 

10.3 

22.1 

16.9 

13.1 

0.5 

22.8 

36.7 

34.3 

15.1 

13.4 

22.3 

16.3 

9.4 

18.9 

9.9 

35.2 

28.5 

24.8 

10.5 

8.1 

16.7 

-6.9 

-3.5 

6.6 

6.4 

1.9 

8.0 

6.5 

4.6 

4.7 

2.5 

-2.7 

15.0 

7.8 

3.7 

-11.8 

14.6 

10.0 

-0.6 

11.8 

7.1 

5.4 

11.7 

6.6 

8.9 

16.4 

10.8 

47.5 

68 

2009 

-5.0 

0.9 

2.1 

0.7 

-1.1 

-10.8 

2.8 

10.2 

3.8 

0.2 

5.7 

18.8 

-8.1 

-3.7 

6.1 

8.2 

-0.4 

6.1 

-1.7 

9.6 

9.5 

14.4 

7.4 

-5.0 

6.5 

6.1 

-17.3 

2010 

2011 

-2.0 

-2.4 

2.8 

8.0 

0.1 

-10.1 

6.2 

8.5 

-2.2 

3.0 

1.7 

-6.0 

-0.1 

0.0 

12.4 

3.2 

18.5 

6.8 

-1.7 

13.3 

10.0 

4.4 

-3.4 

2.2 

18.9 

2.1 

7.9 

4.7 

5.6 

3.8 

4.7 

2.1 

-4.4 

-0.6 

-3.4 

3.7 

7.3 

3.8 

-0.2 

-4.5 

8.9 

11.3 

-2.6 

1.4 

7.2 

-0.3 

4.4 

-0.7 

4.3 

-1.3 

1.2 

30.8 

3.6 

8.5 

 
  
 
Table 61: Additional Indicator - % y-o-y growth of real GDP 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

0.8 

4.2 

3.1 

0.7 

1.5 

6.3 

5.3 

4.2 

3.7 

1.8 

1.9 

4.0 

7.3 

6.7 

2.5 

3.7 

-1.5 

1.9 

0.9 

1.2 

2.0 

5.7 

2.9 

3.5 

2.3 

1.3 

2.9 

1.4 

4.7 

2.1 

0.5 

0.0 

6.6 

5.6 

3.4 

2.7 

0.9 

0.5 

2.1 

7.2 

6.8 

4.1 

4.5 

2.8 

0.1 

1.7 

1.4 

0.8 

5.1 

3.8 

4.6 

1.8 

2.5 

2.4 

0.8 

5.5 

3.8 

0.4 

-0.4 

7.8 

3.9 

5.9 

3.1 

0.9 

0.0 

1.9 

7.6 

10.3 

1.7 

3.9 

0.1 

0.3 

0.9 

3.9 

-0.9 

5.2 

2.9 

4.8 

2.0 

2.3 

3.8 

3.3 

6.7 

4.7 

2.3 

1.2 

6.3 

4.4 

4.4 

3.3 

2.5 

1.7 

4.2 

8.9 

7.4 

4.4 

4.8 

-0.5 

2.2 

2.6 

5.3 

1.6 

8.5 

4.4 

5.1 

4.1 

4.2 

2.9 

1.8 

6.4 

6.8 

2.4 

0.7 

8.9 

5.9 

2.3 

3.6 

1.8 

0.9 

3.9 

2.7 

6.5 

7.0 

3.4 

3.7 

10.1 

5.4 

5.5 

4.1 

2.5 

2.2 

4.1 

10.1 

11.2 

7.8 

5.3 

4.0 

3.7 

2.0 

2.4 

3.6 

0.8 

4.2 

4.0 

6.7 

2.9 

3.2 

2.8 

7.8 

4.9 

3.9 

3.2 

3.4 

3.7 

6.2 

1.4 

7.9 

5.8 

8.3 

4.4 

4.3 

2.6 

-2.8 

-5.5 

-4.5 

-5.8 

-5.1 

-14.1 

-5.5 

-3.1 

-3.7 

-3.1 

-5.5 

-1.9 

-17.7 

-14.8 

-4.1 

-6.8 

-2.4 

-3.7 

-3.8 

1.6 

-2.9 

-6.6 

-7.8 

-4.9 

-8.5 

-5.0 

-4.0 

2.4 

0.4 

2.5 

1.3 

4.2 

3.3 

-0.8 

-4.9 

-0.3 

1.7 

1.8 

1.3 

-0.9 

1.5 

2.9 

1.3 

3.4 

1.6 

2.1 

3.9 

1.4 

-1.6 

1.2 

4.4 

3.3 

6.6 

1.8 

1.8 

1.7 

1.9 

0.8 

3.0 

8.3 

1.4 

-7.1 

0.4 

1.7 

0.4 

0.5 

5.5 

5.9 

1.7 

1.6 

1.9 

1.0 

2.7 

4.3 

-1.7 

2.5 

0.6 

3.2 

2.7 

3.9 

0.9 

2.9 

6.4 

5.7 

1.6 

3.3 

7.5 

5.4 

3.5 

3.5 

2.3 

1.7 

5.1 

9.6 

9.8 

6.6 

0.1 

4.6 

3.9 

3.7 

6.8 

2.4 

6.3 

7.0 

10.5 

5.3 

3.3 

3.6 

1.0 

6.2 

3.1 

-0.8 

1.1 

-4.2 

-2.1 

-0.2 

0.9 

-0.1 

-1.2 

3.6 

-3.3 

2.9 

-0.7 

0.9 

4.0 

1.8 

1.4 

5.1 

0.0 

7.3 

3.4 

5.8 

0.3 

-0.6 

-1.0 

69 

 
  
 
Table 62: Additional Indicator - Gross fixed capital formation as % GDP 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

20.9 

18.3 

28.4 

19.8 

20.1 

26.4 

22.4 

22.5 

26.0 

18.9 

20.5 

16.9 

25.3 

20.3 

22.6 

23.6 

20.1 

21.1 

23.5 

20.7 

27.0 

20.5 

25.0 

28.5 

20.2 

17.9 

16.8 

19.1 

18.3 

27.5 

19.6 

18.4 

29.7 

21.6 

23.4 

26.3 

18.2 

21.1 

18.2 

24.2 

20.4 

22.5 

23.4 

16.0 

20.0 

22.0 

18.7 

25.6 

21.3 

23.3 

27.4 

18.7 

17.4 

16.9 

18.9 

19.0 

26.8 

19.3 

17.8 

31.6 

22.4 

24.2 

27.2 

18.3 

20.5 

17.8 

24.7 

21.2 

22.1 

22.4 

19.3 

19.5 

22.8 

18.2 

23.6 

21.5 

24.1 

24.7 

18.9 

16.8 

16.4 

19.9 

20.4 

25.9 

19.3 

17.4 

30.9 

24.4 

22.9 

28.1 

18.7 

20.6 

19.2 

27.7 

22.4 

21.4 

22.7 

19.5 

18.8 

22.3 

18.1 

23.2 

21.8 

25.0 

24.0 

19.3 

17.0 

16.7 

20.7 

25.7 

25.8 

19.5 

17.3 

32.1 

26.7 

20.7 

29.4 

19.3 

20.9 

19.4 

31.0 

22.9 

20.4 

22.8 

21.8 

18.9 

21.9 

18.2 

23.0 

23.7 

25.4 

26.5 

20.1 

17.9 

16.6 

20.9 

27.6 

25.7 

21.7 

18.1 

36.0 

27.1 

22.6 

30.6 

20.0 

21.4 

20.6 

32.9 

25.3 

19.2 

21.7 

22.0 

19.7 

21.3 

19.7 

22.3 

25.6 

26.5 

26.5 

20.0 

18.7 

17.0 

20.8 

28.9 

24.6 

18.6 

17.2 

21.4 

15.9 

19.9 

23.6 

19.5 

19.4 

20.5 

21.6 

17.2 

19.0 

20.7 

15.7 

19.0 

20.7 

21.2 

20.6 

24.4 

23.1 

20.7 

19.7 

18.0 

14.9 

20.0 

22.8 

24.5 

17.2 

17.4 

19.1 

11.9 

17.6 

22.3 

19.4 

19.6 

19.1 

18.2 

16.4 

18.4 

18.3 

17.4 

17.3 

20.5 

19.9 

19.8 

24.0 

20.1 

21.0 

18.9 

18.0 

14.9 

20.7 

20.9 

23.9 

17.2 

18.1 

21.7 

10.1 

15.1 

21.1 

20.1 

19.6 

16.3 

21.3 

17.8 

19.0 

17.9 

14.8 

17.7 

21.4 

20.3 

18.1 

24.6 

18.5 

23.1 

19.6 

18.4 

14.2 

21.7 

28.7 

27.0 

21.7 

18.4 

35.5 

25.6 

26.6 

30.7 

20.9 

21.5 

22.1 

34.1 

28.1 

20.8 

21.8 

21.6 

20.0 

21.4 

21.6 

22.2 

30.2 

27.8 

26.2 

21.3 

19.6 

17.7 

22.3 

33.6 

26.8 

21.0 

18.6 

30.3 

22.0 

22.6 

28.7 

21.3 

21.0 

22.9 

29.7 

25.3 

21.4 

21.7 

17.8 

20.5 

21.6 

22.3 

22.5 

31.9 

28.6 

24.8 

21.4 

20.0 

16.8 

70 

 
  
 
Table 63: Additional Indicator - Gross domestic expenditure on R&D as % GDP 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2.1 

0.5 

1.2 

2.4 

2.5 

0.7 

1.1 

0.6 

0.9 

2.2 

1.1 

0.3 

0.4 

0.7 

na 

0.9 

na 

1.9 

2.1 

0.6 

0.8 

0.4 

1.5 

0.6 

3.3 

4.1 

1.8 

1.9 

0.5 

1.2 

2.5 

2.5 

0.7 

1.1 

na 

1.0 

2.2 

1.1 

0.3 

0.4 

0.7 

na 

1.0 

0.3 

1.9 

2.1 

0.6 

0.7 

0.4 

1.5 

0.6 

3.4 

na 

1.8 

1.9 

0.5 

1.2 

2.6 

2.5 

0.8 

1.2 

0.6 

1.1 

2.2 

1.1 

0.4 

0.4 

0.7 

1.7 

0.9 

0.3 

1.9 

2.2 

0.5 

0.7 

0.4 

1.3 

0.6 

3.4 

3.8 

1.8 

1.9 

0.5 

1.2 

2.5 

2.5 

0.9 

1.2 

0.6 

1.1 

2.2 

1.1 

0.4 

0.4 

0.8 

1.6 

0.9 

0.5 

1.9 

2.2 

0.6 

0.7 

0.4 

1.4 

0.5 

3.5 

3.6 

1.7 

1.8 

0.5 

1.4 

2.5 

2.5 

0.9 

1.3 

0.6 

1.1 

2.1 

1.1 

0.4 

0.6 

0.8 

1.6 

0.9 

0.6 

1.9 

2.5 

0.6 

0.8 

0.4 

1.4 

0.5 

3.5 

3.6 

1.7 

1.9 

0.5 

1.5 

2.5 

2.5 

1.1 

1.3 

0.6 

1.2 

2.1 

1.1 

0.4 

0.7 

0.8 

1.7 

1.0 

0.6 

1.9 

2.4 

0.6 

1.0 

0.5 

1.6 

0.5 

3.5 

3.7 

1.7 

2.0 

0.5 

1.5 

3.2 

2.8 

1.4 

1.8 

na 

1.4 

2.3 

1.3 

0.5 

0.5 

0.8 

1.7 

1.2 

0.5 

1.8 

2.7 

0.7 

1.6 

0.5 

1.9 

0.5 

3.9 

3.6 

1.9 

2.0 

0.6 

1.6 

3.1 

2.8 

1.6 

1.7 

na 

1.4 

2.2 

1.3 

0.5 

0.6 

0.8 

1.5 

1.2 

0.7 

1.9 

2.8 

0.7 

1.6 

0.5 

2.1 

0.6 

3.9 

3.4 

1.8 

2.0 

0.6 

1.8 

3.1 

2.8 

2.4 

1.7 

na 

1.3 

2.3 

1.3 

0.5 

0.7 

0.9 

1.4 

1.2 

0.7 

2.0 

2.8 

0.8 

na 

0.5 

2.5 

0.7 

3.8 

3.4 

1.8 

1.9 

0.5 

1.5 

2.6 

2.5 

1.1 

1.3 

0.6 

1.3 

2.1 

1.2 

0.4 

0.6 

0.8 

1.6 

1.0 

0.6 

1.8 

2.5 

0.6 

1.2 

0.5 

1.5 

0.5 

3.5 

3.4 

1.8 

2.0 

0.5 

1.4 

2.9 

2.7 

1.3 

1.5 

na 

1.4 

2.1 

1.2 

0.4 

0.6 

0.8 

1.7 

1.0 

0.6 

1.8 

2.7 

0.6 

1.5 

0.6 

1.7 

0.5 

3.7 

3.7 

1.8 

71 

 
  
Table 64: Additional Indicator - Current Account balance as % of  GDP, BoP data 

2001 

2002 

2003 

2004 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

3.4 

-5.5 

-5.1 

3.1 

0.0 

-5.2 

-0.6 

-7.2 

-3.9 

1.7 

0.3 

-3.3 

-7.7 

-4.7 

8.8 

-6.1 

-3.8 

2.6 

-0.8 

-3.1 

-10.3 

-5.5 

0.2 

-8.3 

8.4 

5.0 

-2.1 

4.5 

-2.4 

-5.3 

2.5 

2.0 

3.4 

-5.3 

-6.0 

3.4 

1.9 

3.2 

-6.4 

-5.0 

3.0 

4.7 

2005 

2.0 

-11.6 

-1.0 

4.3 

5.1 

-10.6 

-11.3 

-11.3 

-10.0 

-1.0 

-6.5 

-3.3 

1.0 

-0.4 

-3.8 

-6.7 

-5.1 

10.5 

-7.0 

2.4 

2.6 

2.7 

-2.8 

-8.2 

-3.3 

1.0 

-7.9 

8.5 

4.7 

-1.7 

0.0 

-6.5 

-3.5 

0.4 

-0.8 

-2.3 

-8.2 

-6.7 

8.1 

-8.0 

-3.0 

5.5 

1.7 

-2.5 

-6.4 

-5.9 

-0.8 

-5.9 

4.8 

6.9 

-1.6 

-0.6 

-5.8 

-5.2 

0.5 

-0.3 

-5.0 

-3.5 

-7.6 

-7.4 

-0.5 

-0.9 

-5.9 

-12.9 

-12.6 

-7.6 

11.9 

-8.3 

-5.9 

7.6 

2.2 

-5.3 

-8.3 

-8.3 

-2.6 

-7.8 

6.2 

6.6 

-2.1 

-7.1 

11.5 

-7.2 

-8.7 

7.4 

2.2 

-2.4 

-10.3 

-8.6 

-1.7 

-8.5 

3.4 

6.8 

-2.6 

2006 

1.9 

-17.6 

-2.0 

3.0 

6.3 

-15.3 

-3.5 

-11.4 

-9.0 

-0.6 

-1.5 

-7.0 

-22.5 

-10.6 

10.4 

-7.4 

-9.8 

9.4 

2.8 

-3.8 

-10.7 

-10.4 

-2.5 

-7.8 

4.2 

8.4 

-3.4 

2007 

1.9 

-25.2 

-4.3 

1.4 

7.4 

-15.9 

-5.4 

-14.6 

-10.0 

-1.0 

-1.3 

-11.8 

-22.4 

-14.4 

10.1 

-7.3 

-6.3 

6.7 

3.5 

-6.2 

-10.1 

-13.5 

-4.8 

-5.3 

4.3 

9.1 

-2.5 

2008 

-1.3 

-23.1 

-2.1 

2.9 

6.2 

-9.2 

-5.7 

-14.9 

-9.6 

-1.7 

-2.9 

-15.6 

-13.1 

-12.9 

5.4 

-7.3 

-5.0 

4.3 

4.9 

-6.6 

-12.6 

-11.5 

-6.2 

-6.2 

2.6 

9.1 

-1.4 

72 

2009 

2010 

2011 

-1.4 

-8.9 

-2.4 

3.4 

5.9 

3.4 

-2.3 

-11.2 

-4.8 

-1.3 

-2.0 

-10.7 

8.6 

3.7 

7.2 

-0.2 

-7.5 

5.2 

2.7 

-3.9 

-10.9 

-4.2 

-0.7 

-2.6 

1.8 

6.7 

-1.5 

1.9 

-1.5 

-3.9 

5.9 

6.0 

2.9 

1.1 

-10.1 

-4.5 

-1.6 

-3.5 

-9.8 

2.9 

0.1 

8.2 

1.1 

-5.0 

7.7 

3.4 

-5.1 

-10.0 

-4.4 

-0.6 

-3.7 

1.5 

6.7 

-3.3 

-1.4 

0.3 

-2.8 

5.6 

5.7 

2.1 

1.1 

-9.9 

-3.5 

-2.0 

-3.1 

-4.7 

-2.2 

-3.7 

7.1 

0.9 

-0.3 

9.7 

0.6 

-4.9 

-6.5 

-4.4 

0.0 

0.1 

-1.6 

6.4 

-1.9 

 
  
 
Table 65: Additional Indicator - Net lending / borrowing as % GDP, BoP data 

2001 

2002 

2003 

2004 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

na 

-5.5 

-5.1 

3.1 

0.0 

-4.9 

0.0 

-5.6 

-3.2 

1.7 

0.4 

-3.2 

-7.2 

-4.7 

8.4 

-5.5 

-3.7 

1.8 

-1.1 

-3.1 

-9.4 

-5.3 

0.2 

-7.9 

8.4 

4.9 

-1.9 

4.2 

-2.4 

-5.3 

2.6 

2.0 

3.1 

-5.3 

-6.0 

3.4 

1.9 

3.0 

-5.6 

-5.5 

3.0 

4.7 

-10.1 

-10.6 

-10.6 

-0.6 

-5.5 

-2.2 

1.0 

-0.4 

-3.6 

-6.5 

-4.7 

10.1 

-6.7 

2.6 

2.5 

2.5 

-2.8 

-6.8 

-3.1 

0.3 

-7.4 

8.5 

4.7 

-1.6 

0.1 

-5.8 

-2.5 

0.0 

-0.6 

-2.0 

-7.6 

-6.4 

7.7 

-8.1 

-2.7 

5.0 

1.7 

-2.5 

-4.6 

-22.4 

-1.4 

-5.6 

4.9 

6.9 

-1.5 

2007 

1.5 

-27.1 

-3.7 

1.4 

7.5 

-14.9 

-5.3 

-12.7 

-9.6 

-0.9 

-1.2 

-11.7 

-20.4 

-12.7 

9.7 

-6.6 

-5.0 

6.5 

3.6 

-5.1 

-8.9 

-11.8 

-11.2 

-21.3 

2005 

1.7 

-10.6 

-0.8 

4.5 

5.0 

-9.2 

-3.3 

-6.6 

-6.5 

-0.5 

-0.8 

-5.4 

2006 

1.8 

-16.9 

-1.7 

3.0 

6.2 

-13.2 

-3.4 

-9.9 

-8.3 

-0.6 

-1.4 

-6.8 

-9.4 

9.5 

-6.6 

-6.8 

9.0 

2.5 

-3.2 

-9.9 

-0.4 

-4.5 

-4.2 

0.6 

-0.2 

-4.2 

-6.4 

9.6 

-8.2 

-4.4 

7.4 

2.1 

-4.8 

-6.9 

-7.5 

-3.0 

-7.5 

6.3 

6.7 

-1.9 

-5.8 

14.6 

-6.5 

-5.5 

7.1 

2.1 

-2.1 

-9.2 

-7.9 

-2.1 

-8.5 

3.5 

6.8 

-2.5 

-10.5 

-12.8 

-2.9 

-7.9 

4.3 

7.7 

-3.3 

-4.9 

-4.7 

4.3 

9.0 

-2.3 

73 

2008 

-1.8 

-22.3 

-1.4 

2.9 

6.2 

-7.8 

-5.7 

-13.2 

-9.1 

-1.7 

-2.9 

-15.6 

-11.7 

-11.1 

4.7 

-6.3 

-4.6 

3.8 

4.9 

-5.4 

-11.1 

-11.1 

-6.2 

-4.9 

2.7 

8.9 

-1.2 

2009 

2010 

2011 

-1.8 

-7.6 

-1.0 

3.4 

5.9 

6.9 

-3.1 

-10.3 

-4.4 

-1.3 

-2.0 

-10.4 

11.1 

7.1 

6.4 

0.9 

-5.8 

5.1 

2.7 

-2.2 

-10.1 

-3.6 

-0.7 

-1.9 

1.9 

6.6 

-1.2 

1.7 

-0.7 

-3.0 

5.9 

6.0 

6.5 

0.7 

-9.2 

-3.9 

-1.6 

-3.6 

-9.6 

4.9 

2.7 

7.6 

2.8 

-3.3 

7.5 

3.5 

-3.3 

-8.9 

-4.2 

-0.4 

-2.2 

1.6 

6.5 

-3.1 

-1.7 

1.6 

-2.5 

5.9 

5.7 

6.3 

1.0 

-8.6 

-3.0 

-2.0 

-3.0 

-4.5 

0.0 

-1.3 

6.8 

3.3 

0.7 

9.7 

0.4 

-2.9 

-5.3 

-3.9 

-0.3 

1.3 

-1.5 

6.3 

-1.7 

 
  
 
Table 66: Additional Indicator - Net external debt as % GDP 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2001 

2002 

na 

12.8 

na 

42.1 

20.9 

na 

na 

9.5 

na 

31.1 

21.6 

na 

2003 

-34.8 

8.5 

na 

21.2 

16.7 

13.0 

2004 

-40.9 

2.5 

na 

20.7 

12.9 

17.6 

2005 

-37.7 

11.3 

-14.6 

22.1 

9.8 

18.4 

2006 

-44.2 

15.5 

-9.9 

33.6 

0.2 

27.5 

2007 

-39.7 

32.7 

-7.3 

34.8 

-4.1 

35.0 

2008 

-73.1 

48.9 

-3.9 

30.8 

-1.6 

37.7 

2009 

2010 

2011 

-105.4 

-122.0 

-127.6 

49.6 

-1.3 

28.2 

-7.7 

34.7 

43.6 

0.1 

25.7 

-5.9 

23.4 

33.9 

1.1 

18.0 

-2.9 

6.5 

-210.6 

-210.2 

-214.0 

-200.7 

-209.8 

-202.4 

-213.1 

-160.8 

-213.5 

-297.4 

-339.2 

na 

na 

na 

23.3 

na 

18.6 

17.5 

na 

23.9 

-14.5 

14.2 

33.5 

12.5 

37.2 

7.1 

na 

na 

6.3 

54.5 

27.6 

na 

25.7 

na 

27.6 

na 

20.9 

13.2 

49.8 

29.3 

na 

28.8 

0.6 

24.2 

12.9 

53.4 

35.1 

na 

28.6 

-22.9 

29.9 

13.3 

59.2 

44.5 

1.4 

32.4 

-26.6 

35.8 

15.9 

63.1 

57.8 

-0.8 

36.5 

-43.7 

44.2 

19.8 

69.3 

68.5 

3.1 

41.4 

-19.8 

49.6 

29.6 

76.3 

76.2 

20.7 

40.6 

-4.0 

57.1 

35.2 

88.2 

88.2 

21.3 

45.2 

1.3 

58.7 

37.0 

102.9 

91.7 

28.0 

51.4 

8.0 

54.1 

35.5 

98.0 

93.5 

36.1 

49.0 

37.9 

46.4 

32.3 

-2413.1 

-2359.3 

-2454.5 

-2522.1 

-2614.3 

-2678.6 

-2517.0 

-2902.1 

-3145.0 

-3022.2 

22.8 

-28.3 

26.0 

26.6 

16.9 

40.2 

10.4 

na 

na 

4.0 

50.5 

35.2 

29.0 

-81.0 

19.6 

23.9 

21.6 

37.7 

13.9 

na 

na 

-6.1 

53.7 

34.3 

33.1 

-87.3 

21.4 

22.5 

16.2 

39.5 

8.2 

-3.4 

na 

-6.4 

52.4 

41.9 

37.0 

-87.5 

18.7 

22.0 

14.7 

47.5 

8.3 

3.1 

na 

-5.0 

57.5 

45.3 

43.0 

-90.6 

14.9 

19.3 

17.6 

54.8 

11.0 

10.9 

na 

-3.2 

46.5 

47.3 

63.4 

-87.4 

61.1 

52.6 

-167.6 

-158.3 

24.4 

23.0 

32.0 

84.8 

34.6 

37.2 

22.2 

23.1 

73.5 

46.2 

37.4 

28.5 

33.1 

83.3 

37.9 

40.2 

21.2 

28.3 

62.8 

46.2 

36.8 

24.4 

35.8 

83.4 

38.0 

37.5 

21.7 

30.9 

62.4 

45.2 

50.9 

-86.8 

20.4 

22.5 

20.7 

64.0 

20.9 

20.4 

na 

-2.1 

47.1 

43.7 

57.5 

-72.7 

29.2 

29.0 

29.4 

75.2 

27.7 

30.9 

17.5 

12.1 

68.9 

37.9 

74 

 
  
 
Table 67: Additional Indicator - FDI Inflows as % GDP 

2001 

2002 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

na 

5.8 

8.8 

6.9 

1.4 

8.7 

9.2 

1.2 

4.7 

na 

1.3 

1.7 

1.6 

3.6 

na 

7.5 

6.4 

13.0 

3.1 

3.0 

5.2 

2.9 

1.8 

7.0 

3.0 

4.8 

3.7 

2003 

10.7 

6.8 

2.2 

1.3 

1.3 

9.4 

6.4 

5.8 

10.8 

3.8 

2.7 

3.9 

23.8 

14.3 

0.0 

5.7 

na 

1.2 

10.1 

2.8 

5.1 

0.7 

2.9 

na 

1.1 

6.8 

2.7 

1.0 

2004 

2005 

2006 

2007 

2008 

12.0 

10.2 

4.4 

-4.3 

-0.4 

8.0 

-5.7 

0.9 

2.4 

1.6 

1.0 

7.0 

4.6 

3.4 

9.1 

14.9 

9.0 

5.0 

1.7 

20.6 

-15.6 

0.3 

2.2 

4.0 

1.1 

7.0 

4.4 

3.9 

14.7 

23.5 

3.7 

1.0 

1.9 

10.7 

-2.5 

2.0 

2.5 

3.2 

2.1 

10.1 

8.4 

6.0 

20.3 

29.4 

5.8 

3.8 

2.4 

12.4 

9.6 

0.7 

4.5 

3.7 

1.9 

10.3 

8.1 

5.1 

38.2 

19.0 

2.9 

0.5 

0.2 

7.3 

-6.3 

1.3 

4.8 

2.3 

-0.5 

5.6 

3.8 

4.1 

2009 

12.9 

7.0 

1.5 

1.3 

0.7 

9.6 

11.5 

0.8 

0.7 

0.9 

1.0 

14.8 

0.4 

0.0 

2010 

18.2 

3.2 

3.1 

-3.7 

1.4 

8.4 

20.7 

0.1 

2.9 

1.2 

0.4 

3.3 

1.6 

2.2 

2011 

20.1 

4.5 

2.5 

3.8 

1.1 

1.2 

5.2 

0.4 

2.0 

1.5 

1.6 

5.5 

5.1 

3.4 

510.1 

306.1 

230.8 

311.5 

302.0 

372.4 

193.6 

408.3 

420.1 

645.3 

4.5 

-10.3 

5.7 

0.2 

2.1 

1.4 

2.5 

7.0 

16.4 

6.0 

4.9 

1.6 

2.6 

18.9 

3.9 

2.8 

2.1 

4.4 

14.1 

1.0 

6.5 

2.0 

1.7 

1.5 

4.4 

7.0 

0.8 

1.3 

5.1 

1.0 

8.5 

2.4 

7.2 

1.5 

3.4 

2.6 

7.0 

11.3 

7.5 

25.6 

3.4 

2.0 

6.5 

1.6 

5.1 

2.4 

3.1 

7.7 

6.1 

28.9 

1.2 

1.2 

5.7 

5.4 

9.2 

1.7 

8.4 

3.7 

6.9 

6.4 

1.6 

9.1 

4.8 

2.4 

3.0 

1.2 

2.9 

-1.3 

0.0 

0.3 

2.5 

3.3 

1.7 

11.7 

-1.3 

0.2 

3.0 

1.2 

1.8 

0.8 

2.0 

2.8 

-0.2 

2.3 

3.7 

4.7 

1.6 

3.5 

3.7 

4.4 

1.3 

2.0 

2.2 

1.0 

2.7 

2.3 

2.9 

13.4 

15.3 

16.6 

5.5 

1.3 

5.8 

3.2 

4.8 

5.1 

6.2 

7.0 

4.1 

9.8 

0.5 

1.7 

2.8 

1.9 

6.8 

3.6 

5.0 

-0.4 

7.6 

3.5 

75 

 
  
 
Table 68: Additional Indicator - Net Trade Balance of energy products as % GDP 

2001 

2002 

-3.1 

na 

-3.6 

0.6 

-2.0 

-3.1 

na 

na 

-2.2 

-1.5 

-1.5 

na 

na 

-1.9 

na 

-4.2 

-2.3 

na 

-1.9 

-1.6 

na 

-3.1 

-3.6 

-6.7 

-1.9 

-1.3 

0.5 

-2.5 

0.5 

-2.5 

0.8 

-1.7 

-2.5 

na 

-2.3 

-2.1 

-1.4 

-1.4 

-3.6 

-3.6 

-1.8 

na 

-2.4 

-2.8 

-0.4 

-1.8 

-1.5 

na 

-1.9 

-2.8 

-5.5 

-1.7 

-1.4 

na 

2003 

-2.2 

na 

na 

0.9 

-1.9 

-2.2 

na 

na 

-1.8 

-1.4 

-1.3 

-2.3 

-4.1 

na 

na 

-2.4 

na 

na 

-2.0 

-1.8 

na 

-2.5 

-3.1 

-4.8 

-1.8 

-1.5 

0.4 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

na 

0.9 

-1.8 

1.1 

-1.9 

na 

-1.5 

-2.4 

-2.1 

-1.7 

-1.5 

-3.6 

-4.7 

0.1 

na 

-2.1 

-3.2 

-2.0 

-2.2 

-1.6 

na 

-3.0 

-3.5 

-4.1 

-1.6 

-1.3 

0.1 

-4.4 

0.8 

-2.1 

1.7 

-2.5 

-2.4 

-1.9 

-3.4 

-2.8 

-2.2 

-1.8 

-4.7 

-5.1 

-2.3 

na 

-3.0 

na 

-4.3 

-3.0 

-2.3 

-3.8 

-2.7 

-4.8 

-5.6 

-2.3 

-1.6 

na 

na 

na 

na 

2.1 

-2.9 

na 

-2.1 

-3.6 

-3.3 

-2.5 

-2.1 

-5.5 

-5.7 

-3.3 

na 

-6.3 

na 

-3.4 

-3.6 

-2.4 

-3.9 

-3.0 

-5.1 

-6.4 

-3.2 

-1.8 

-0.4 

na 

-7.5 

na 

1.9 

-2.4 

-3.5 

-2.4 

-3.5 

-3.1 

-2.3 

-1.9 

-5.7 

-4.6 

-4.2 

na 

-4.6 

na 

-2.1 

-2.9 

na 

na 

-2.6 

-4.8 

-5.0 

-2.6 

-1.7 

-0.4 

-5.4 

-8.4 

-4.3 

1.7 

-3.5 

-4.2 

na 

-4.9 

-3.7 

-2.9 

-2.2 

-7.1 

-5.9 

-5.8 

-4.6 

-6.3 

na 

-2.1 

-3.6 

na 

-4.7 

-2.9 

-6.3 

-6.0 

-3.5 

-2.0 

na 

76 

na 

-5.3 

-2.9 

0.8 

-2.5 

na 

-2.4 

-3.0 

-2.4 

-2.0 

-2.7 

-5.1 

-4.5 

-4.2 

na 

-4.9 

na 

-1.8 

-2.5 

-2.3 

na 

-1.6 

-4.0 

-4.4 

-2.5 

-1.3 

-0.4 

-3.1 

-0.5 

-1.2 

0.5 

-3.7 

-0.6 

-1.4 

0.7 

-16.7 

-19.8 

na 

na 

-2.0 

-6.9 

-10.6 

-11.6 

na 

-0.2 

-0.4 

na 

-1.2 

na 

-3.1 

-2.2 

na 

na 

-0.5 

-0.4 

-0.8 

-1.2 

-1.1 

na 

na 

na 

-2.7 

-8.5 

-12.7 

-13.9 

na 

-0.2 

-0.5 

na 

-1.4 

0.0 

-4.6 

-2.8 

na 

na 

-0.7 

-0.5 

-1.0 

-1.4 

-1.6 

-2.2 

 
  
 
Table 69: Additional Indicator - % Change (3 years) in REER v.-à-v. EA (17) 

2006 

2007 

2008 

2009 

2010 

2011 

2001 

0.6 

na 

na 

na 

-2.6 

6.7 

5.2 

-0.9 

2.7 

-2.0 

0.6 

2.0 

na 

na 

1.8 

na 

9.6 

4.3 

2002 

-0.3 

na 

na 

na 

-3.3 

6.0 

7.3 

-1.2 

2.9 

-1.8 

0.7 

3.1 

na 

na 

1.6 

na 

5.6 

5.0 

-0.7 

-0.7 

na 

3.4 

na 

0.8 

na 

3.8 

na 

2.5 

13.9 

20.5 

1.0 

na 

na 

0.6 

na 

na 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2003 

-1.3 

na 

na 

na 

2004 

-1.4 

na 

na 

na 

2005 

-0.2 

na 

na 

na 

0.6 

na 

na 

na 

0.5 

na 

na 

na 

-3.5 

-3.0 

-2.0 

-1.2 

-0.6 

3.9 

6.2 

3.0 

2.6 

-1.2 

1.1 

-0.2 

na 

na 

0.5 

na 

-4.7 

5.1 

-1.2 

na 

4.4 

na 

2.3 

16.0 

-0.8 

na 

na 

2.3 

5.0 

4.0 

3.2 

0.0 

1.5 

0.8 

na 

na 

1.6 

na 

-4.9 

1.5 

-1.2 

na 

2.7 

na 

1.0 

23.1 

-2.8 

na 

na 

3.2 

2.4 

3.7 

3.3 

0.1 

1.1 

1.1 

na 

na 

3.4 

na 

-3.9 

-1.0 

-0.7 

na 

1.2 

na 

-0.4 

25.1 

-3.9 

na 

na 

6.2 

1.0 

3.5 

3.8 

-0.4 

0.3 

1.0 

na 

na 

3.6 

na 

0.9 

-1.8 

-0.5 

na 

0.7 

na 

-0.1 

21.1 

-4.1 

na 

na 

9.5 

1.4 

3.3 

3.6 

-1.3 

-0.1 

-0.4 

na 

na 

3.0 

na 

-0.7 

-1.7 

-0.5 

na 

0.6 

na 

2.0 

21.8 

-2.9 

na 

na 

0.6 

na 

na 

na 

-0.9 

11.4 

-1.5 

2.6 

1.1 

-1.1 

0.5 

-1.2 

na 

na 

1.0 

na 

1.5 

-1.0 

-0.2 

na 

-1.7 

na 

4.0 

1.9 

na 

na 

na 

-1.4 

8.0 

-5.3 

5.1 

1.0 

-0.1 

0.8 

0.5 

na 

na 

1.8 

na 

3.5 

-0.9 

0.2 

na 

-2.1 

na 

3.3 

24.8 

12.8 

1.1 

na 

na 

2.1 

na 

na 

1.4 

na 

na 

na 

-0.9 

3.2 

-6.5 

4.5 

0.4 

-0.4 

0.9 

0.7 

na 

na 

2.0 

na 

1.8 

0.0 

1.2 

na 

-0.5 

na 

0.4 

5.0 

2.2 

na 

na 

1.3 

na 

na 

na 

-1.2 

14.6 

1.2 

2.9 

3.1 

-1.2 

0.1 

-0.6 

na 

na 

2.1 

na 

0.7 

-2.2 

-0.6 

na 

0.0 

na 

4.1 

26.9 

-1.0 

na 

na 

77 

 
  
 
Table 70: Additional Indicator - % y-o-y change in Export Market Shares, volumes 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

1.8 

9.3 

11.4 

2.9 

6.2 

-2.6 

8.0 

-4.2 

3.9 

2.4 

2.5 

5.9 

7.2 

21.0 

4.2 

7.8 

-5.3 

1.9 

5.9 

2.9 

3.4 

11.7 

6.1 

6.7 

1.5 

1.4 

2.8 

4.4 

6.7 

-1.4 

0.3 

0.4 

0.1 

1.0 

-18.8 

-2.0 

-2.3 

-6.9 

-8.7 

1.6 

14.8 

-1.8 

0.0 

2.8 

-3.3 

0.0 

1.0 

6.7 

13.2 

2.9 

1.4 

-0.5 

-3.9 

-1.9 

-4.8 

14.1 

2.5 

-6.1 

-2.6 

24.0 

-4.4 

-2.2 

-1.5 

-6.4 

-6.4 

-5.6 

0.1 

3.3 

1.7 

1.0 

-7.7 

-1.3 

-3.7 

9.1 

3.6 

4.2 

-2.0 

10.8 

-7.0 

-1.2 

-3.2 

-3.5 

2.3 

3.2 

-7.6 

0.3 

15.6 

-2.7 

7.0 

-6.2 

-6.2 

-4.1 

-4.9 

-0.9 

-6.3 

0.7 

4.7 

-7.5 

-3.5 

-0.3 

3.6 

-1.9 

3.7 

2.1 

-3.0 

-2.2 

0.7 

-5.2 

-3.8 

-4.0 

3.9 

0.3 

-0.1 

11.0 

-3.3 

-5.2 

-5.2 

-4.6 

-4.3 

-2.8 

12.5 

9.3 

-3.3 

3.6 

-7.0 

-1.5 

-0.4 

0.2 

-10.7 

-0.2 

2.8 

2.2 

-0.7 

-1.3 

0.0 

-4.8 

-9.6 

4.2 

-0.7 

3.4 

-2.6 

-4.6 

-3.9 

-3.0 

-4.2 

-1.3 

-6.1 

-3.2 

2.6 

3.3 

9.4 

8.1 

-1.7 

-1.9 

5.0 

0.4 

0.8 

2.9 

11.3 

2.5 

0.5 

2.0 

-3.1 

4.0 

3.3 

-5.2 

0.0 

5.0 

0.5 

-1.0 

-1.2 

-5.7 

-1.7 

-1.8 

2.1 

-4.8 

1.2 

7.1 

2.0 

-1.7 

0.9 

1.2 

3.6 

-0.1 

5.8 

6.4 

0.2 

-1.7 

-9.3 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2009 

-0.9 

1.8 

0.2 

0.4 

-3.4 

-12.9 

6.0 

-9.3 

-0.2 

-2.0 

-7.3 

-0.8 

-3.9 

-2.3 

-0.7 

0.0 

-0.3 

0.5 

-4.1 

3.4 

-2.2 

3.7 

-7.0 

-5.8 

-11.3 

-0.8 

0.7 

2010 

-4.6 

-13.8 

3.4 

-9.8 

0.7 

4.3 

-6.7 

-8.8 

0.5 

-3.7 

-1.4 

-6.9 

-1.5 

4.3 

-10.2 

1.3 

4.7 

-1.2 

-4.7 

-0.9 

-13.7 

1.0 

-3.5 

3.5 

-5.2 

-3.9 

-5.7 

2011 

-1.6 

5.2 

5.2 

1.2 

2.5 

25.7 

-1.7 

-6.0 

3.2 

-0.8 

-0.2 

-2.3 

6.8 

7.9 

-2.2 

2.7 

-4.8 

-1.9 

0.9 

1.5 

2.7 

4.1 

1.0 

5.0 

-6.6 

0.6 

-1.2 

2008 

-4.8 

7.1 

1.1 

0.5 

-0.2 

4.9 

-3.9 

0.1 

-3.9 

-3.5 

-5.7 

-2.9 

-0.8 

8.6 

1.1 

2.9 

-1.2 

-2.2 

-1.4 

4.2 

0.1 

5.4 

0.1 

0.3 

3.0 

-2.9 

-1.6 

78 

 
  
 
Table 71: Additional Indicator - % y-o-y growth of Labour Productivity 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

-0.6 

4.9 

3.4 

-0.2 

1.2 

5.4 

2.1 

4.1 

0.3 

0.0 

0.1 

1.8 

6.1 

10.9 

-2.9 

3.9 

-3.2 

0.4 

1.0 

3.5 

0.2 

6.8 

2.4 

2.9 

0.9 

-0.8 

2.0 

1.5 

4.4 

1.5 

0.4 

0.6 

5.1 

4.0 

1.2 

0.4 

0.1 

-0.8 

0.0 

4.2 

3.1 

0.8 

4.6 

2.2 

0.3 

2.2 

4.6 

0.2 

17.0 

2.2 

4.5 

0.9 

2.4 

1.7 

0.9 

2.5 

4.6 

1.5 

0.5 

6.3 

2.0 

4.7 

0.5 

0.7 

-0.7 

-1.9 

5.5 

7.9 

-0.1 

3.9 

-0.9 

1.5 

0.4 

5.1 

-0.3 

5.3 

3.2 

3.7 

2.0 

2.9 

2.8 

2.2 

4.1 

5.1 

2.9 

0.9 

6.4 

0.9 

1.9 

0.4 

2.4 

1.4 

0.4 

7.6 

7.4 

2.1 

5.8 

0.2 

3.3 

1.6 

4.2 

1.6 

10.3 

4.0 

5.3 

3.7 

5.0 

1.8 

0.3 

3.6 

4.6 

1.4 

0.8 

6.7 

0.9 

-0.7 

0.1 

1.1 

0.8 

0.3 

8.4 

5.2 

2.3 

4.3 

2.1 

2.1 

1.6 

1.4 

1.1 

5.8 

4.5 

5.0 

1.5 

2.9 

1.7 

1.5 

3.1 

5.6 

1.3 

3.1 

4.5 

1.0 

3.5 

0.6 

1.3 

0.6 

2.3 

5.9 

5.9 

1.3 

3.4 

1.8 

1.7 

2.9 

3.0 

0.9 

7.1 

4.2 

6.1 

2.5 

2.6 

1.7 

-2.6 

-2.9 

-2.8 

-3.5 

-5.2 

-4.5 

2.9 

-2.5 

2.9 

-1.6 

-2.7 

-1.3 

-5.3 

-8.6 

-5.1 

-4.4 

-2.1 

-2.6 

-2.3 

1.2 

-0.3 

-4.7 

-6.1 

-3.0 

-6.1 

-2.7 

-2.4 

1.7 

5.3 

3.5 

3.6 

3.6 

8.5 

3.6 

0.4 

6.1 

1.6 

1.2 

1.6 

1.2 

3.6 

-2.4 

-1.6 

2.0 

1.9 

2.7 

1.3 

4.0 

7.0 

1.1 

0.6 

1.0 

2.2 

1.5 

3.4 

3.0 

-0.2 

3.5 

6.0 

3.4 

5.3 

1.6 

2.2 

1.2 

0.3 

0.0 

14.8 

3.8 

-1.2 

1.2 

-0.5 

0.5 

1.3 

3.3 

-0.1 

2.0 

2.2 

1.4 

1.6 

1.6 

0.4 

1.2 

3.2 

3.5 

-1.1 

1.5 

6.6 

1.7 

2.1 

0.5 

0.9 

0.7 

1.8 

5.8 

6.8 

2.0 

-0.6 

1.3 

1.7 

1.9 

2.2 

2.4 

5.9 

3.5 

8.2 

3.1 

1.0 

2.9 

-0.8 

3.5 

0.8 

-2.4 

-0.1 

-4.3 

-1.1 

-1.4 

1.1 

-0.4 

-0.8 

1.4 

-4.2 

3.6 

-5.5 

2.7 

1.3 

0.3 

-0.4 

1.2 

-0.5 

7.3 

0.8 

2.4 

-2.2 

-1.5 

-1.7 

79 

 
  
 
Table 72: Additional Indicator - % y-o-y growth of Employment 

2001 

1.4 

-0.8 

-0.2 

0.8 

0.3 

0.8 

3.1 

0.1 

3.2 

1.4 

1.5 

2.1 

1.6 

-3.3 

2.5 

0.3 

1.8 

1.9 

0.7 

-2.2 

1.8 

-0.9 

0.6 

1.0 

1.4 

2.1 

0.8 

2002 

-0.1 

0.2 

0.7 

0.0 

-0.6 

1.3 

1.6 

2.3 

2.5 

0.3 

2.9 

2.1 

2.9 

4.0 

2.0 

0.1 

0.6 

0.3 

-0.1 

-3.0 

0.5 

-11.8 

1.6 

0.2 

0.9 

0.0 

0.8 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

0.0 

3.0 

-0.6 

-1.1 

-0.9 

1.5 

1.9 

1.2 

3.2 

-0.2 

2.7 

3.8 

2.0 

2.3 

0.9 

1.3 

1.0 

-0.6 

0.6 

-1.2 

-0.4 

-0.5 

-0.3 

1.8 

0.1 

-0.6 

0.9 

1.1 

2.6 

-0.5 

-0.7 

0.3 

0.3 

3.4 

2.4 

3.6 

0.4 

0.4 

3.7 

1.1 

-0.1 

1.0 

-0.5 

-0.7 

-0.9 

0.6 

1.3 

0.1 

-1.1 

0.7 

0.3 

0.4 

-0.7 

1.1 

1.4 

2.7 

1.5 

0.6 

-0.1 

1.9 

4.9 

3.0 

4.1 

0.8 

0.3 

3.6 

1.5 

2.6 

1.2 

0.0 

1.5 

0.4 

1.2 

2.3 

0.0 

-0.3 

-0.6 

2.1 

1.3 

0.3 

1.0 

1.1 

3.3 

1.3 

2.0 

0.6 

6.2 

4.4 

1.9 

4.0 

1.3 

1.6 

1.7 

5.2 

1.7 

1.6 

0.7 

1.3 

1.6 

1.7 

3.4 

0.7 

1.4 

1.3 

3.8 

1.8 

1.7 

0.9 

-0.2 

-2.6 

-1.5 

-2.1 

0.1 

-9.2 

-8.1 

-0.6 

-6.5 

-1.7 

-1.7 

-0.5 

-12.7 

-6.9 

1.3 

-2.5 

-0.3 

-0.6 

-0.7 

0.4 

-2.8 

-1.5 

-1.4 

-2.8 

-2.6 

-2.0 

-1.6 

0.7 

-4.7 

-0.2 

-2.1 

0.6 

-4.1 

-4.2 

-2.6 

-2.5 

1.0 

-0.7 

0.0 

-4.4 

-5.2 

1.7 

0.0 

2.4 

-0.4 

0.8 

0.6 

-1.5 

-0.3 

-1.9 

-2.0 

-0.1 

0.8 

0.3 

1.3 

-4.2 

0.6 

-0.5 

1.4 

6.7 

-2.1 

-5.6 

-1.6 

0.5 

0.3 

0.4 

-8.4 

2.0 

2.6 

0.8 

2.5 

0.6 

1.7 

1.1 

-1.9 

-1.3 

-1.4 

1.5 

1.1 

2.2 

0.5 

1.7 

2.8 

1.7 

1.9 

1.7 

1.4 

3.6 

1.4 

3.0 

1.7 

1.2 

3.2 

2.8 

2.3 

2.6 

-0.1 

3.2 

2.0 

1.8 

4.4 

0.2 

1.4 

3.2 

2.4 

2.1 

2.3 

0.7 

1.8 

3.3 

1.3 

1.5 

1.2 

0.3 

-1.1 

1.2 

-0.1 

-0.2 

0.2 

2.1 

0.6 

-1.1 

3.4 

-1.2 

2.6 

1.2 

2.0 

3.7 

0.5 

-0.3 

2.4 

3.2 

2.6 

0.9 

0.7 

80 

 
  
 
Table 73: Additional Indicator - % Change (10 years) in Nominal ULC 

2001 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

2002 

17.1 

na 

na 

18.4 

7.7 

na 

12.7 

95.3 

30.1 

11.6 

19.2 

na 

351.1 

na 

24.4 

na 

33.6 

23.8 

6.0 

258.8 

48.6 

2003 

2004 

12.7 

na 

103.5 

20.0 

4.8 

11.2 

na 

78.3 

23.6 

3.9 

218.1 

118.4 

12.8 

76.2 

27.0 

11.7 

21.9 

na 

89.7 

18.0 

62.6 

29.2 

13.6 

24.1 

na 

40.1 

300.4 

136.2 

22.0 

na 

33.3 

24.7 

3.7 

179.1 

45.8 

20.1 

na 

34.4 

24.9 

1.1 

106.8 

43.4 

2005 

12.5 

2006 

14.3 

2007 

16.5 

3243.3 

1677.4 

105.7 

64.2 

24.5 

0.8 

77.2 

26.4 

50.4 

29.9 

14.5 

25.2 

34.9 

64.3 

57.4 

19.8 

46.4 

24.3 

-1.4 

63.0 

32.5 

40.4 

30.3 

15.1 

21.4 

31.7 

59.6 

36.0 

17.9 

159.0 

118.1 

26.0 

23.9 

1.7 

63.9 

38.9 

25.7 

23.9 

3.1 

34.0 

34.7 

35.7 

28.6 

-1.0 

77.6 

38.7 

31.9 

33.1 

16.9 

20.0 

28.5 

88.5 

26.6 

20.0 

95.2 

27.4 

24.4 

4.4 

20.5 

31.1 

2008 

2009 

2010 

2011 

20.3 

54.2 

31.2 

32.0 

1.1 

95.0 

42.9 

32.1 

38.2 

20.7 

28.1 

31.4 

23.2 

74.1 

31.2 

36.4 

6.2 

90.1 

36.8 

35.8 

37.6 

24.1 

32.1 

34.4 

126.6 

103.7 

31.3 

32.6 

82.4 

29.2 

24.7 

8.3 

17.9 

31.4 

27.6 

41.3 

76.8 

35.8 

29.1 

13.6 

15.3 

32.4 

22.2 

81.1 

27.7 

34.5 

4.5 

73.4 

25.9 

33.0 

31.2 

23.2 

30.8 

32.9 

85.7 

29.1 

40.0 

57.3 

33.2 

24.5 

13.3 

11.7 

24.8 

20.3 

69.5 

23.2 

29.3 

5.5 

64.4 

15.4 

31.1 

25.3 

22.3 

28.3 

34.6 

94.4 

33.6 

35.7 

44.3 

23.7 

20.0 

13.2 

5.7 

19.4 

16977.9 

6985.7 

3181.5 

2832.8 

1974.2 

1030.2 

684.4 

455.9 

263.8 

154.9 

na 

na 

1.9 

19.2 

19.8 

na 

na 

7.7 

17.6 

21.2 

na 

88.3 

9.4 

15.5 

24.4 

68.2 

71.5 

9.7 

15.3 

25.0 

58.4 

61.8 

9.6 

9.6 

27.6 

54.5 

47.6 

11.3 

13.3 

27.3 

56.8 

47.2 

17.3 

16.8 

26.7 

62.8 

49.4 

26.9 

23.4 

29.8 

52.3 

32.7 

24.1 

14.5 

28.1 

38.9 

28.8 

21.9 

8.1 

26.2 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

Note: For the indicator "% Change (3 years) in Nominal ULC", break in employment figures for Latvia in 2011.

81 

 
  
Table 74: Additional Indicator - % Change (10 years) in Effective ULC vs. Euro Area (17) 

2001 

2002 

2003 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

na 

2004 

-2.9 

na 

na 

na 

2005 

-0.9 

na 

na 

na 

2006 

2007 

2008 

2009 

2010 

2011 

1.4 

na 

na 

na 

2.7 

na 

na 

na 

3.1 

na 

na 

na 

2.0 

na 

na 

na 

3.8 

na 

na 

na 

3.7 

na 

na 

na 

-13.1 

-16.1 

-17.7 

-18.0 

-19.2 

-17.5 

-17.0 

-14.1 

93.2 

5.3 

41.5 

11.5 

-1.8 

8.9 

9.8 

na 

na 

5.9 

na 

17.2 

11.2 

-11.4 

na 

24.5 

na 

81.3 

67.7 

-5.3 

na 

na 

57.9 

15.0 

31.5 

12.8 

-0.2 

11.0 

16.0 

na 

na 

6.0 

na 

10.5 

11.2 

-9.6 

na 

20.9 

na 

50.7 

54.6 

-3.9 

na 

na 

46.4 

24.3 

22.9 

14.4 

1.4 

8.2 

14.5 

na 

na 

5.0 

na 

12.4 

12.3 

-7.1 

na 

17.7 

na 

43.5 

47.5 

-2.9 

na 

na 

56.7 

18.8 

14.7 

12.0 

2.2 

10.1 

11.4 

na 

na 

15.0 

na 

13.0 

8.6 

-4.8 

na 

7.6 

na 

36.7 

27.9 

4.6 

na 

na 

47.0 

9.2 

13.0 

8.3 

4.0 

11.6 

9.8 

na 

na 

16.3 

na 

14.0 

6.6 

-3.0 

na 

4.1 

na 

30.1 

15.3 

5.0 

na 

na 

44.8 

0.1 

11.5 

4.3 

5.1 

11.1 

12.4 

na 

na 

14.0 

na 

7.0 

3.2 

-1.6 

na 

1.4 

na 

21.0 

12.6 

3.8 

na 

na 

58.2 

28.8 

16.0 

16.4 

2.5 

5.9 

11.0 

na 

na 

6.0 

na 

13.5 

11.9 

-6.5 

na 

13.0 

na 

39.2 

33.6 

-2.1 

na 

na 

67.5 

27.4 

14.6 

16.4 

2.7 

10.3 

9.7 

na 

na 

10.4 

na 

11.1 

8.6 

-5.8 

na 

9.6 

na 

36.3 

29.3 

0.2 

na 

na 

82 

 
  
 
Table 75: Additional Indicator - % Change (3 years) in Nominal House Prices 

2001 

18.4 

na 

na 

2002 

17.6 

na 

na 

2003 

19.2 

na 

na 

2004 

23.6 

na 

na 

2005 

30.9 

na 

na 

2006 

33.3 

na 

na 

20.3 

16.8 

13.1 

16.5 

32.2 

59.0 

na 

na 

53.4 

na 

28.4 

25.7 

23.7 

na 

na 

na 

30.1 

na 

na 

na 

na 

39.5 

na 

38.1 

27.1 

28.4 

na 

na 

22.4 

32.6 

na 

na 

52.7 

39.8 

na 

na 

na 

na 

23.8 

14.2 

na 

na 

na 

9.7 

31.2 

37.8 

na 

na 

na 

8.6 

27.6 

44.4 

na 

na 

38.7 

37.3 

49.6 

30.5 

30.8 

na 

na 

na 

43.1 

22.8 

59.9 

39.4 

32.8 

na 

122.5 

129.9 

na 

na 

44.5 

19.6 

57.3 

48.4 

30.4 

na 

76.5 

na 

na 

43.1 

28.2 

54.9 

48.8 

25.2 

na 

60.9 

60.0 

37.4 

na 

29.4 

22.5 

na 

na 

7.2 

na 

na 

na 

11.1 

22.3 

45.3 

48.3 

37.5 

na 

48.1 

15.0 

na 

na 

2.4 

na 

na 

na 

21.9 

24.0 

50.3 

106.3 

146.6 

41.2 

na 

49.7 

12.2 

na 

na 

4.1 

na 

na 

na 

24.2 

27.1 

36.5 

34.9 

na 

58.4 

12.9 

na 

na 

5.0 

na 

49.3 

na 

25.0 

34.3 

25.4 

2007 

31.6 

102.0 

28.4 

49.9 

na 

139.4 

37.7 

31.7 

44.8 

37.6 

19.4 

na 

111.1 

185.8 

23.9 

na 

59.4 

13.6 

na 

na 

5.8 

na 

65.2 

na 

22.5 

38.5 

24.4 

2008 

2009 

2010 

2011 

21.6 

84.8 

43.5 

20.8 

-1.3 

63.1 

14.6 

24.1 

25.2 

20.3 

14.0p 

32.1 

59.4 

105.3 

14.3 

11.3 

61.2 

11.7 

9.7 

101.7 

7.5p 

106.7 

53.0 

77.9 

14.2 

28.5 

16.8 

11.6 

28.2 

29.1 

-14.3 

-0.1 

-31.5 

-18.9 

11.0 

0.9 

-0.2 

7.2p 

10.4 

-13.6 

2.0 

5.6 

-0.8 

28.6 

2.5 

6.7 

43.4 

5.8p 

3.2 

18.4 

32.7 

8.3 

17.2 

1.4 

6.3 

5.1 

-10.6 

-32.4p,s 

6.4 

-14.3 

3.2 

-40.0 

-33.8 

2.8 

-9.9 

-1.5 

-5.0 

-11.9 

5.4 

-28.0 

-38.7 

-3.5 

-15.3 

3.5 

2.3b,p 

0.4b,p 

-6.9 

-43.5 

-29.0 

5.1 

-7.8 

7.3 

-3.7 

3.2 

-7.3 

6.2p 

-16.7 

-38.7 

-30.8s 

6.5 

-8.5s 

-4.6 

-7.5 

-2.9s 

-7.6s 

2.0p 

-37.2 

-39.5s 

-2.9 

-1.2 

8.6 

12.6 

-2.0 

-6.8 

-17.8 

11.1 

13.8 

-2.0 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

Note:  

(i) Recent figures are based on the Eurostat house price index, in most cases going back to 2006. Earlier data were provided by the European Central Bank and OECD  

83 

 
  
(ii) s = EUROSTAT estimates, b = break in series, p = provisional 

84 

 
Table 76: Additional Indicator - Residential Construction as % GDP 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

na 

1.8 

3.3 

4.3 

6.2 

2.1 

8.6 

6.8 

9.4 

5.2 

4.8 

5.3 

2.3 

1.6 

2.5 

4.4 

4.5 

6.1 

5.0 

2.8 

7.8 

1.1 

3.4 

3.5 

5.6 

2.3 

2.7 

na 

2.1 

3.2 

4.3 

5.8 

2.5 

8.8 

7.4 

9.9 

5.3 

4.9 

5.7 

1.9 

1.3 

2.3 

4.8 

4.7 

5.8 

4.6 

2.8 

7.4 

1.5 

3.1 

3.3 

5.3 

2.5 

3.1 

na 

2.1 

3.2 

4.9 

5.6 

3.1 

10.5 

7.7 

10.7 

5.4 

5.1 

6.5 

1.4 

1.4 

2.6 

5.0 

4.7 

5.7 

4.4 

2.7 

6.2 

1.7 

2.9 

3.0 

5.8 

2.6 

3.2 

na 

2.0 

3.4 

5.2 

5.4 

3.8 

12.1 

7.3 

11.3 

5.7 

5.2 

7.4 

2.0 

2.3 

2.4 

5.4 

5.2 

5.9 

4.4 

2.6 

6.0 

1.6 

3.2 

2.8 

6.4 

2.9 

3.7 

na 

3.1 

3.4 

6.0 

5.1 

4.9 

13.6 

9.4 

11.9 

5.9 

5.6 

8.4 

2.5 

2.2 

2.2 

4.6 

5.6 

6.1 

4.4 

2.7 

6.0 

2.0 

3.7 

2.9 

6.8 

3.2 

4.2 

na 

5.7 

3.5 

6.6 

5.3 

6.8 

14.0 

10.3 

12.5 

6.4 

5.8 

8.7 

3.4 

2.5 

2.4 

3.8 

6.4 

6.3 

4.3 

2.8 

5.6 

1.8 

3.9 

2.3 

7.0 

3.6 

4.1 

na 

5.3 

3.9 

4.2 

5.3 

3.5 

4.9 

6.6 

8.1 

6.0 

5.6 

7.3 

3.2 

3.3 

3.8 

3.3 

3.4 

5.7 

4.5 

2.9 

4.0 

3.0 

3.9 

2.9 

5.7 

3.0 

3.3 

na 

4.3 

4.2 

4.0 

5.3 

3.2 

3.1 

5.4 

7.1 

5.9 

5.5 

6.3 

1.7 

1.9 

3.5 

2.5 

2.7 

4.9 

4.5 

2.6 

3.8 

na 

3.2 

2.4 

6.7 

3.3 

3.1 

na 

na 

3.8 

4.7 

5.6 

3.5 

2.6 

4.7 

6.4 

6.1 

5.5 

5.0 

1.5 

1.8 

3.4 

1.8 

2.5 

4.9 

4.4 

2.6 

3.4 

na 

3.0 

2.3 

6.8 

3.7 

3.2 

na 

5.3 

4.1 

6.3 

5.3 

6.2 

11.6 

12.5 

12.2 

6.7 

5.8 

8.9 

4.7 

2.8 

2.9 

4.1 

6.4 

6.4 

4.3 

3.0 

5.0 

2.4 

4.2 

2.4 

6.9 

3.9 

4.2 

na 

6.1 

4.3 

5.3 

5.2 

4.3 

8.6 

8.3 

10.8 

6.7 

5.8 

9.2 

4.6 

3.4 

3.6 

3.6 

4.7 

6.3 

4.4 

3.2 

4.6 

3.2 

4.6 

2.3 

6.3 

3.5 

4.0 

85 

 
  
 
Table 77: Additional Indicator - Private Sector Debt as % GDP, consolidated data 

2001 

2002 

2003 

2004 

2005 

2006 

110.5 

110.0 

109.6 

109.7 

108.1 

106.2 

29.3 

53.4 

176.7 

128.0 

61.8 

123.3 

64.7 

114.2 

106.5 

83.9 

163.8 

47.5 

29.4 

na 

63.1 

na 

188.0 

127.0 

37.4 

165.9 

26.5 

58.5 

49.0 

96.7 

152.1 

na 

32.8 

55.0 

175.8 

127.2 

68.0 

141.2 

68.1 

121.3 

106.2 

86.6 

173.4 

51.3 

29.8 

na 

65.9 

na 

192.2 

126.6 

44.8 

169.3 

31.0 

60.1 

53.1 

104.9 

164.0 

na 

42.0 

49.1 

177.9 

127.3 

75.1 

129.9 

71.8 

131.6 

105.7 

90.5 

169.2 

59.8 

35.1 

na 

77.5 

na 

200.1 

128.6 

46.8 

176.1 

33.1 

64.2 

48.9 

110.1 

166.8 

na 

58.8 

49.9 

185.7 

123.1 

85.6 

145.9 

78.3 

143.2 

107.4 

94.3 

167.9 

71.1 

40.3 

na 

77.7 

138.0 

202.2 

127.9 

41.2 

175.8 

33.3 

68.3 

48.7 

113.0 

165.4 

na 

74.5 

50.8 

202.0 

120.9 

96.8 

168.1 

89.8 

160.9 

111.9 

100.5 

203.8 

91.2 

50.3 

na 

91.3 

139.6 

208.7 

132.0 

42.9 

184.5 

39.3 

77.8 

51.5 

122.8 

173.3 

na 

93.9 

56.0 

215.0 

117.7 

115.8 

214.2 

97.7 

184.9 

115.7 

106.9 

199.5 

114.5 

62.3 

134.6 

98.1 

146.9 

210.8 

131.9 

49.4 

192.3 

44.8 

83.9 

55.1 

125.1 

174.7 

na 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2009 

132.5 

153.1 

69.9 

250.5 

116.9 

157.2 

282.6 

122.4 

213.6 

134.8 

125.7 

256.2 

142.8 

85.1 

312.9 

149.5 

164.1 

223.6 

147.4 

69.2 

225.5 

73.1 

115.7 

73.9 

155.5 

230.6 

na 

2010 

130.3 

152.1 

70.6 

244.0 

111.0 

144.6 

284.8 

125.1 

213.6 

137.2 

126.5 

272.4 

135.3 

76.3 

281.4 

133.6 

162.5 

224.0 

150.0 

70.9 

223.6 

75.4 

117.8 

72.8 

156.3 

216.8 

na 

2011 

142.9 

135.9 

72.7 

237.5 

109.1 

132.3 

280.7 

125.0 

203.9 

139.4 

126.3 

281.1 

117.6 

66.6 

266.7 

147.2 

169.2 

223.7 

146.2 

76.6 

223.1 

71.1 

115.7 

76.3 

153.1 

216.3 

na 

2007 

113.9 

130.2 

60.8 

224.1 

114.2 

127.7 

219.7 

107.3 

200.3 

120.3 

114.7 

220.5 

119.5 

75.5 

163.9 

111.4 

147.2 

209.3 

133.9 

55.5 

202.7 

58.1 

98.1 

64.3 

128.7 

193.0 

na 

2008 

130.7 

147.2 

68.2 

237.3 

113.6 

144.1 

258.6 

119.0 

206.5 

126.9 

119.1 

236.6 

123.0 

78.0 

191.9 

140.6 

154.2 

209.4 

139.2 

69.2 

216.1 

66.7 

108.3 

69.4 

144.4 

219.9 

na 

86 

 
  
 
Table 78: Financial sector leverage (debt to equity)  

2001 

267.3 

737.7 

2002 

345.2 

895.4 

1200.7 

1387.1 

371.0 

441.3 

251.2 

134.4 

299.8 

306.7 

255.5 

208.1 

601.8 

837.9 

619.1 

na 

441.3 

574.5 

227.2 

146.7 

397.9 

380.2 

276.7 

271.6 

676.5 

823.7 

612.3 

na 

2003 

344.7 

539.7 

677.6 

364.5 

501.5 

283.5 

158.7 

331.2 

365.4 

257.7 

254.9 

767.3 

952.3 

823.1 

na 

660.3 

536.1 

528.1 

na 

204.4 

412.8 

531.8 

371.5 

674.0 

500.6 

na 

250.2 

402.5 

425.0 

396.6 

692.2 

516.3 

na 

259.3 

375.0 

415.3 

337.8 

612.6 

494.4 

2004 

295.5 

395.2 

626.9 

338.1 

504.2 

227.0 

176.7 

308.7 

370.2 

254.4 

262.6 

927.2 

2005 

299.4 

305.1 

647.8 

286.6 

449.5 

274.3 

192.4 

299.6 

405.5 

249.6 

251.1 

963.2 

2006 

266.0 

169.1 

657.7 

277.9 

421.7 

412.2 

192.0 

294.9 

432.7 

240.0 

252.5 

598.2 

1002.2 

1027.9 

1095.7 

742.9 

656.3 

na 

465.4 

478.7 

275.5 

350.5 

314.3 

309.5 

590.6 

469.4 

na 

409.6 

465.0 

270.3 

299.8 

268.9 

290.0 

479.7 

528.5 

727.4 

60.6 

377.7 

467.6 

246.1 

283.5 

217.4 

276.6 

504.7 

460.8 

2007 

304.8 

215.0 

642.7 

341.6 

430.1 

397.3 

204.3 

314.0 

536.0 

304.3 

352.5 

511.3 

993.2 

776.0 

62.3 

389.3 

610.4 

263.9 

289.3 

214.0 

298.6 

511.3 

421.6 

2008 

622.2 

416.4 

759.8 

591.3 

614.2 

453.6 

293.8 

1275.4 

859.6 

425.9 

742.1 

2009 

490.6 

369.4 

648.4 

461.3 

523.4 

468.0 

235.8 

954.2 

761.4 

344.9 

679.7 

2010 

497.1 

439.6 

571.6 

376.8 

496.3 

395.6 

187.5 

2011 

640.6 

413.9 

623.7 

377.0 

524.5 

373.4 

158.3 

1881.5 

2728.2 

910.2 

358.6 

859.7 

941.2 

460.7 

1171.6 

1286.4 

1465.2 

1623.6 

2539.2 

1063.2 

1000.4 

76.5 

644.8 

725.5 

294.6 

433.0 

414.9 

381.7 

804.3 

625.3 

846.6 

784.9 

54.8 

538.0 

580.4 

226.6 

351.4 

349.1 

375.6 

676.3 

605.0 

839.6 

603.8 

45.5 

505.7 

343.6 

216.7 

324.6 

308.1 

459.1 

660.1 

581.2 

704.3 

633.4 

50.0 

561.9 

362.3 

230.9 

377.8 

377.1 

541.6 

662.0 

639.4 

2177.6 

1954.0 

1517.5 

1298.4 

1513.4 

1219.4 

1002.3 

1154.0 

1140.5 

1046.1 

1078.8 

356.2 

228.4 

486.2 

370.4 

286.2 

614.8 

328.9 

234.8 

596.6 

321.2 

238.2 

754.8 

263.8 

217.1 

775.2 

226.9 

212.2 

732.5 

252.2 

240.6 

898.8 

457.2 

456.8 

372.5 

316.9 

1807.5 

1010.3 

402.7 

265.9 

994.2 

616.3 

304.7 

1187.1 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

87 

 
  
 
Table 79: Untransformed headline indicators: Current account balance as % of GDP (BoP data) 

2001 

2002 

2003 

2004 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

3.4 

-5.5 

-5.1 

3.1 

0.0 

-5.2 

-0.6 

-7.2 

-3.9 

1.7 

0.3 

-3.3 

-7.7 

-4.7 

8.8 

-6.1 

-3.8 

2.6 

-0.8 

-3.1 

-10.3 

-5.5 

0.2 

-8.3 

8.4 

5.0 

-2.1 

4.5 

-2.4 

-5.3 

2.5 

2.0 

3.4 

-5.3 

-6.0 

3.4 

1.9 

3.2 

-6.4 

-5.0 

3.0 

4.7 

2005 

2.0 

-11.6 

-1.0 

4.3 

5.1 

-10.6 

-11.3 

-11.3 

-10.0 

-1.0 

-6.5 

-3.3 

1.0 

-0.4 

-3.8 

-6.7 

-5.1 

10.5 

-7.0 

2.4 

2.6 

2.7 

-2.8 

-8.2 

-3.3 

1.0 

-7.9 

8.5 

4.7 

-1.7 

0.0 

-6.5 

-3.5 

0.4 

-0.8 

-2.3 

-8.2 

-6.7 

8.1 

-8.0 

-3.0 

5.5 

1.7 

-2.5 

-6.4 

-5.9 

-0.8 

-5.9 

4.8 

6.9 

-1.6 

-0.6 

-5.8 

-5.2 

0.5 

-0.3 

-5.0 

-3.5 

-7.6 

-7.4 

-0.5 

-0.9 

-5.9 

-12.9 

-12.6 

-7.6 

11.9 

-8.3 

-5.9 

7.6 

2.2 

-5.3 

-8.3 

-8.3 

-2.6 

-7.8 

6.2 

6.6 

-2.1 

-7.1 

11.5 

-7.2 

-8.7 

7.4 

2.2 

-2.4 

-10.3 

-8.6 

-1.7 

-8.5 

3.4 

6.8 

-2.6 

2008 

-1.3 

-23.1 

-2.1 

2.9 

6.2 

-9.2 

-5.7 

-14.9 

-9.6 

-1.7 

-2.9 

-15.6 

-13.1 

-12.9 

5.4 

-7.3 

-5.0 

4.3 

4.9 

-6.6 

-12.6 

-11.5 

-6.2 

-6.2 

2.6 

9.1 

-1.4 

2009 

2010 

2011 

-1.4 

-8.9 

-2.4 

3.4 

5.9 

3.4 

-2.3 

-11.2 

-4.8 

-1.3 

-2.0 

-10.7 

8.6 

3.7 

7.2 

-0.2 

-7.5 

5.2 

2.7 

-3.9 

-10.9 

-4.2 

-0.7 

-2.6 

1.8 

6.7 

-1.5 

1.9 

-1.5 

-3.9 

5.9 

6.0 

2.9 

1.1 

-10.1 

-4.5 

-1.6 

-3.5 

-9.8 

2.9 

0.1 

8.2 

1.1 

-5.0 

7.7 

3.4 

-5.1 

-10.0 

-4.4 

-0.6 

-3.7 

1.5 

6.7 

-3.3 

-1.4 

0.3 

-2.8 

5.6 

5.7 

2.1 

1.1 

-9.9 

-3.5 

-2.0 

-3.1 

-4.7 

-2.2 

-3.7 

7.1 

0.9 

-0.3 

9.7 

0.6 

-4.9 

-6.5 

-4.4 

0.0 

0.1 

-1.6 

6.4 

-1.9 

2006 

1.9 

-17.6 

-2.0 

3.0 

6.3 

-15.3 

-3.5 

-11.4 

-9.0 

-0.6 

-1.5 

-7.0 

-22.5 

-10.6 

10.4 

-7.4 

-9.8 

9.4 

2.8 

-3.8 

-10.7 

-10.4 

-2.5 

-7.8 

4.2 

8.4 

-3.4 

2007 

1.9 

-25.2 

-4.3 

1.4 

7.4 

-15.9 

-5.4 

-14.6 

-10.0 

-1.0 

-1.3 

-11.8 

-22.4 

-14.4 

10.1 

-7.3 

-6.3 

6.7 

3.5 

-6.2 

-10.1 

-13.5 

-4.8 

-5.3 

4.3 

9.1 

-2.5 

88 

 
  
 
Table 80: Untransformed headline indicators: Net International Investment Position as % of GDP 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2001 

na 

-27.1 

-10.0 

-16.6 

8.7 

-48.3 

-15.2 

-46.5 

-35.6 

-2.0 

-5.8 

na 

-37.6 

-34.4 

na 

-66.3 

13.6 

-13.4 

-25.6 

-29.5 

-47.5 

-25.0 

-2.2 

-18.4 

-82.2 

-25.0 

-13.4 

2002 

36.6 

-25.3 

-15.5 

-16.4 

5.1 

-54.1 

-17.9 

-52.9 

-41.6 

3.0 

-12.4 

10.6 

-41.3 

-32.6 

100.4 

-65.2 

34.6 

-24.3 

-20.1 

-34.9 

-54.6 

-21.2 

0.1 

-16.2 

-36.8 

-22.0 

-11.2 

2003 

36.6 

-26.3 

-19.6 

-12.1 

6.6 

-65.9 

-20.0 

-58.9 

-45.2 

-4.2 

-13.6 

4.3 

-43.8 

-33.1 

140.3 

-78.1 

39.6 

-1.7 

-14.3 

-41.7 

-57.5 

-27.1 

-5.9 

-24.5 

-26.4 

-20.0 

-10.3 

2004 

28.4 

-30.1 

-28.2 

-5.3 

10.7 

-86.5 

-17.9 

-67.0 

-51.9 

-4.7 

-15.8 

14.1 

-52.3 

-34.4 

113.1 

-85.4 

40.1 

3.7 

-17.3 

-41.6 

-64.1 

-26.4 

-7.8 

-31.0 

-10.0 

-25.0 

-18.4 

2005 

33.5 

-44.1 

-26.9 

3.9 

21.0 

-85.2 

-24.5 

-77.3 

-55.6 

1.1 

-16.8 

20.3 

-59.6 

-42.6 

127.8 

-94.4 

36.9 

-2.6 

-21.7 

-42.5 

-66.9 

-29.5 

-11.0 

-38.7 

-15.3 

-20.7 

-20.0 

2006 

29.4 

-58.0 

-32.3 

-0.2 

27.9 

-73.9 

-5.3 

-85.4 

-65.8 

1.1 

-22.2 

38.3 

-69.9 

-48.9 

131.6 

2007 

28.9 

-81.1 

-38.7 

-5.8 

26.5 

-72.0 

-19.6 

-96.1 

-78.1 

-1.5 

-24.5 

11.7 

-74.7 

-55.8 

95.5 

2008 

39.7 

-98.4 

-40.1 

-5.1 

25.4 

-76.7 

-76.2 

-76.8 

-79.3 

-12.9 

-24.1 

-15.1 

-79.0 

-51.6 

100.1 

2009 

54.2 

-101.8 

-46.0 

4.4 

33.8 

-81.9 

-93.0 

-89.6 

-93.7 

-9.4 

-25.3 

-30.4 

-82.7 

-57.3 

85.7 

2010 

64.4 

-95.4 

-48.2 

10.1 

34.9 

-72.8 

-88.9 

-98.4 

-88.9 

-7.8 

-24.0 

-35.6 

-80.3 

-55.4 

96.6 

2011 

65.7 

-85.6 

-49.3 

24.5 

32.6 

-57.8 

-96.0 

-86.1 

-91.7 

-15.9 

-20.6 

-71.3 

-73.3 

-52.6 

107.8 

-102.8 

-105.1 

-106.0 

-117.2 

-112.8 

-105.9 

2.7 

4.2 

-16.9 

-56.3 

-96.2 

-53.4 

-35.7 

-57.4 

-9.7 

-10.5 

-7.0 

13.6 

16.7 

-8.0 

7.4 

22.6 

-8.1 

5.7 

35.5 

-2.3 

-58.8 

-65.4 

-63.5 

-110.4 

-107.3 

-105.0 

-62.2 

-39.6 

-66.7 

0.0 

-9.3 

-21.0 

-63.8 

-42.8 

-63.2 

11.8 

-7.4 

-23.8 

-62.5 

-41.2 

-64.4 

13.1 

-8.3 

-17.3 

28.0 

3.2 

-20.5 

-45.7 

-78.8 

-36.2 

-17.1 

-46.8 

-13.8 

-13.0 

-28.9 

18.1 

-6.0 

-18.2 

-50.1 

-87.9 

-47.1 

-21.8 

-46.2 

-27.9 

-1.5 

-22.9 

89 

 
  
Table 81: Untransformed headline indicators: % y-o-y change in Real Effective Exchange Rate with HICP deflators 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

0.8 

7.5 

6.6 

1.4 

-0.1 

4.4 

2.5 

1.1 

1.0 

0.1 

0.6 

0.6 

0.8 

2.5 

0.5 

8.2 

1.1 

3.6 

0.1 

0.5 

3.5 

10.6 

1.8 

0.5 

2.0 

4.8 

2.4 

2.5 

1.2 

2.0 

1.7 

3.9 

2.8 

-2.5 

4.7 

4.5 

2.7 

9.3 

5.3 

5.1 

5.2 

6.1 

5.6 

-3.1 

-4.9 

2.7 

0.6 

9.7 

1.6 

2.8 

0.2 

1.4 

3.4 

1.3 

3.1 

4.1 

2.8 

12.8 

-4.7 

-11.3 

2.5 

1.7 

0.5 

2.0 

1.6 

-8.0 

-2.8 

2.2 

0.1 

1.9 

2.5 

1.4 

2.3 

-0.1 

4.6 

-3.4 

2.8 

12.6 

4.6 

6.6 

-4.9 

0.9 

4.2 

0.6 

0.3 

1.2 

2.2 

2.6 

1.6 

1.9 

1.6 

1.6 

0.6 

1.0 

0.0 

1.7 

6.0 

2.5 

0.2 

0.7 

-0.9 

1.1 

1.9 

-0.1 

9.8 

-0.3 

1.2 

3.6 

0.1 

1.6 

5.5 

-0.8 

-1.0 

1.9 

-0.1 

-0.1 

0.8 

-0.8 

-0.8 

0.4 

-0.5 

-0.4 

1.3 

1.8 

-0.1 

-1.0 

-0.8 

12.0 

-0.5 

18.2 

-0.9 

3.0 

-1.7 

-3.6 

-1.5 

0.5 

5.1 

5.0 

0.0 

-0.1 

2.3 

0.9 

1.0 

1.6 

0.1 

0.3 

0.4 

4.2 

1.3 

0.9 

-4.5 

1.5 

-0.3 

-0.3 

2.4 

0.8 

7.4 

0.4 

5.7 

-0.5 

0.0 

1.0 

3.0 

9.1 

15.1 

2.3 

0.8 

7.1 

3.6 

2.0 

2.7 

1.7 

1.7 

3.3 

11.1 

7.0 

2.1 

3.0 

3.7 

0.7 

0.5 

9.5 

0.7 

-5.0 

2.2 

8.6 

2.1 

-2.0 

-12.8 

0.9 

5.0 

2.9 

0.9 

1.7 

5.0 

3.3 

1.0 

1.8 

0.9 

1.2 

-0.5 

7.1 

3.6 

1.0 

11.1 

1.7 

0.3 

0.8 

3.5 

1.2 

8.4 

1.5 

9.7 

0.8 

1.2 

1.8 

90 

0.4 

3.6 

-4.0 

2.4 

0.7 

1.1 

-1.6 

2.1 

0.4 

0.2 

1.0 

0.9 

3.9 

5.4 

0.9 

-5.6 

0.5 

1.8 

0.9 

-15.2 

-0.6 

-7.6 

1.9 

6.6 

2.3 

-7.5 

-9.8 

-1.9 

-1.9 

2.0 

-3.7 

-4.4 

-2.0 

-6.7 

0.0 

-2.2 

-3.2 

-3.5 

-2.5 

-5.9 

-3.1 

-1.0 

2.5 

-3.3 

-3.2 

-2.6 

7.1 

-2.3 

2.5 

-1.6 

-3.5 

-4.1 

7.4 

2.0 

1.0 

1.4 

2.3 

-0.4 

-0.2 

1.7 

-0.9 

1.0 

0.6 

-0.3 

0.5 

0.7 

1.6 

1.4 

1.0 

-0.1 

-0.1 

-0.1 

0.8 

-1.9 

1.0 

3.1 

-0.5 

1.3 

0.6 

4.5 

1.0 

 
 
  
* Indicative figures for 2011 are based on forecasts by the European Commission (DG Economic and Financial Affairs). 

91 

 
Table 82: Untransformed headline indicators: % y-o-y change in Export Market Shares 

2007 

2008 

2009 

2010 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2001 

2002 

2003 

2004 

2005 

na 

17.6 

12.4 

-0.2 

-2.5 

14.9 

12.9 

11.1 

-2.8 

-8.5 

-4.8 

0.2 

9.6 

32.3 

4.9 

14.5 

-10.6 

-4.4 

-4.1 

24.0 

-7.6 

26.1 

-0.1 

15.6 

-0.3 

-10.7 

-6.1 

na 

12.9 

24.0 

8.7 

11.4 

6.3 

19.6 

-1.2 

9.0 

2.0 

3.2 

3.9 

14.9 

43.3 

2.8 

18.9 

-3.4 

2.1 

11.4 

19.4 

6.8 

30.3 

17.8 

19.7 

1.1 

-5.1 

0.6 

na 

19.0 

14.2 

3.9 

8.6 

11.7 

3.3 

-0.2 

9.5 

0.5 

-0.3 

-4.0 

11.8 

28.7 

3.3 

11.5 

3.7 

4.9 

8.5 

14.4 

8.1 

25.8 

13.7 

36.0 

0.4 

4.4 

-3.1 

0.1 

22.8 

19.8 

-4.2 

4.6 

19.6 

-5.3 

16.4 

2.6 

-4.1 

-1.1 

-1.5 

13.0 

11.2 

11.9 

11.1 

-6.5 

10.0 

7.3 

-5.1 

-4.6 

18.6 

-9.7 

1.4 

-9.2 

-12.3 

-9.6 

-6.8 

16.9 

13.2 

9.7 

3.8 

-11.8 

-16.0 

3.2 

5.2 

19.5 

1.2 

19.0 

8.1 

29.2 

-2.2 

5.2 

-6.8 

-6.0 

-2.8 

13.5 

-14.1 

14.9 

2.2 

4.3 

-6.9 

-4.6 

-8.0 

2006 

-10.7 

10.7 

-1.3 

-2.0 

-4.5 

16.0 

-12.2 

-13.1 

-8.2 

-12.8 

-10.0 

-12.5 

11.4 

15.1 

7.8 

0.2 

-4.6 

-6.4 

-7.7 

10.0 

-9.1 

11.0 

0.9 

14.0 

-5.5 

-5.7 

-4.9 

2011 

-10.2 

9.6 

-2.7 

-14.2 

-8.3 

17.4 

-18.6 

-17.9 

-8.7 

-14.0 

-10.6 

-19.6 

4.5 

17.7 

-12.4 

-8.7 

-4.2 

-8.4 

-6.6 

-5.0 

-3.0 

-12.0 

-6.5 

-4.1 

0.0 

-19.7 

-6.1 

-2.6 

-12.8 

-11.7 

-5.6 

-7.9 

-5.7 

-7.6 

12.4 

-4.8 

-12.1 

-12.1 

-2.1 

-9.4 

-1.6 

-12.1 

-10.0 

-21.0 

-8.1 

-6.6 

-3.0 

-9.3 

2.8 

-10.6 

-1.3 

-14.4 

-1.8 

-8.6 

-1.8 

11.2 

10.1 

-1.7 

-0.7 

-0.5 

-7.0 

6.0 

-2.3 

-6.1 

-4.5 

-0.4 

19.5 

19.7 

-0.2 

8.6 

2.3 

-0.6 

1.1 

15.9 

-1.0 

17.8 

7.4 

29.8 

1.9 

-3.3 

-17.5 

-0.3 

1.3 

4.8 

-0.5 

-2.2 

-5.8 

6.4 

-3.5 

-1.5 

5.9 

-10.3 

0.9 

2.1 

4.1 

-3.5 

-2.0 

11.8 

-0.5 

-4.2 

7.5 

-2.9 

10.6 

-3.4 

3.6 

-12.2 

-10.7 

-9.6 

-6.1 

14.9 

9.8 

-4.4 

2.1 

4.4 

-4.9 

-3.5 

0.0 

-7.6 

-1.3 

-5.5 

17.0 

5.5 

12.2 

9.7 

8.3 

-2.4 

-0.4 

14.6 

4.8 

13.1 

10.1 

33.0 

2.1 

-0.1 

-8.4 

92 

 
 
  
Table 83: Untransformed headline indicators: % y-o-y change in Nominal ULC 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2001 

2002 

2003 

4.2 

8.0 

4.9 

4.4 

0.4 

4.0 

5.7 

2.3 

1.4 

6.2 

3.3 

0.7 

3.8 

1.3 

-0.4 

10.1 

3.2 

2.4 

2.9 

1.9 

-1.6 

-3.5 

6.5 

10.9 

9.1 

5.1 

1.0 

6.5 

4.0 

44.9 

9.0 

2.6 

3.7 

5.2 

3.1 

3.0 

3.0 

3.4 

4.8 

-1.4 

1.8 

2.1 

8.6 

0.6 

4.8 

0.1 

-2.2 

3.1 

-0.2 

5.9 

4.2 

0.8 

0.5 

1.4 

1.0 

1.6 

3.2 

2.2 

0.9 

4.9 

4.4 

1.5 

2.7 

2.0 

4.0 

9.7 

5.2 

1.0 

1.3 

5.8 

6.1 

2.5 

1.4 

-3.3 

3.8 

21.0 

4.5 

4.0 

0.7 

0.2 

1.8 

2004 

-0.6 

2.0 

3.0 

0.4 

-0.5 

5.6 

4.1 

2.2 

2.5 

1.0 

2.1 

2.0 

6.5 

3.3 

1.2 

4.2 

1.9 

0.2 

-0.4 

-2.2 

1.0 

3.0 

3.6 

2.7 

0.0 

-0.9 

2.1 

1.4 

5.6 

-0.8 

2.2 

-0.9 

3.8 

4.6 

4.4 

3.3 

1.8 

2.4 

1.6 

15.3 

6.0 

2.2 

2.8 

-0.7 

-0.4 

1.2 

0.3 

3.5 

22.1 

1.4 

4.0 

2.1 

0.2 

1.9 

2.0 

3.1 

0.4 

2.2 

-2.0 

9.1 

3.6 

-1.1 

3.1 

1.8 

2.0 

0.9 

16.4 

10.2 

1.3 

2.0 

3.9 

0.6 

1.1 

-1.0 

0.9 

4.9 

1.1 

1.7 

0.3 

-0.5 

2.9 

* Note: "% Change (3 years) in Nominal ULC", break in employment figures for Latvia in 2011 

3.9 

12.8 

2.3 

5.9 

5.6 

1.4 

-3.7 

6.2 

1.3 

3.7 

4.0 

3.8 

-7.9 

-1.5 

7.4 

2.8 

5.8 

5.2 

4.9 

2.3 

3.2 

2.9 

8.5 

5.7 

8.9 

4.4 

5.3 

-0.4 

5.5 

0.0 

-1.2 

-1.1 

-6.1 

-6.5 

-0.1 

-1.9 

0.6 

-0.5 

1.4 

-10.4 

-6.9 

1.6 

-0.9 

-1.2 

-0.7 

0.0 

1.3 

-1.6 

7.9 

0.3 

-0.9 

-1.6 

-2.3 

1.1 

2.7 

1.1 

1.1 

0.0 

1.4 

-1.4 

-3.2 

-1.9 

-1.5 

1.6 

0.9 

3.3 

3.0 

-0.2 

3.3 

1.7 

1.2 

1.3 

0.9 

0.7 

-0.7 

1.7 

-0.6 

-0.4 

1.8 

-0.8 

1.5 

2.2 

9.3 

2.6 

4.8 

-0.8 

17.3 

4.2 

2.5 

4.2 

1.7 

1.6 

1.2 

27.7 

6.5 

1.6 

6.3 

0.5 

1.7 

1.1 

2.6 

1.2 

4.4 

12.4 

3.4 

6.1 

2.3 

14.6 

6.4 

5.1 

5.6 

3.2 

4.5 

1.9 

20.7 

10.4 

9.3 

4.3 

3.5 

3.0 

3.8 

7.5 

3.4 

15.3 

22.9 

6.4 

4.4 

6.7 

3.1 

3.2 

2.6 

0.5 

0.6 

4.2 

2.1 

93 

 
  
Table 84: Untransformed headline indicators: % y-o-y change in deflated House Prices 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2.9 

na 

na 

3.4 

na 

na 

3.7 

11.4 

6.2 

5.8 

5.4 

na 

-1.0 

21.0 

11.8 

na 

2.7 

6.4 

na 

na 

1.9 

na 

na 

na 

-3.7 

5.6 

7.1 

5.2 

na 

na 

1.9 

na 

na 

5.1 

11.0 

12.6 

7.1 

6.5 

na 

71.7 

9.9 

7.9 

na 

6.4 

3.3 

na 

na 

-2.1 

na 

na 

na 

3.7 

4.7 

5.4 

na 

na 

1.9 

na 

na 

11.7 

2.0 

14.0 

9.6 

7.4 

na 

21.6 

19.9 

8.8 

na 

12.4 

1.3 

na 

na 

-1.7 

na 

na 

na 

7.0 

4.9 

15.3 

13.8 

6.1 

na 

na 

7.6 

na 

na 

9.8 

-0.5 

13.4 

12.9 

7.1 

na 

-3.4 

15.0 

11.3 

na 

17.7 

3.2 

na 

na 

-1.9 

na 

7.3 

na 

7.7 

8.6 

9.8 

9.8 

27.9 

0.0 

15.8 

na 

27.6 

9.9 

12.0 

10.0 

13.2 

5.2p 

na 

23.1 

48.7 

8.1 

na 

6.9 

1.8 

na 

na 

-0.5p 

na 

13.1 

na 

7.2 

7.8 

2.9 

5.6 

12.2 

5.3 

21.8 

-1.4 

42.1 

12.2 

9.3 

11.8 

9.7 

3.2p 

8.8 

9.2 

34.8 

3.7 

1.6 

18.6 

2.0 

1.9 

35.0 

-1.0p 

46.0 

14.2 

11.5 

5.5 

11.3 

3.5 

4.4 

18.3 

15.8 

1.4 

-3.6 

11.8 

4.1 

1.9 

6.4 

4.4 

2.6p 

8.2 

24.0 

25.7 

2.4 

-2.0 

18.7 

3.1 

1.6 

45.2 

-1.6p 

44.5 

17.4 

25.7 

3.6 

11.2 

8.2 

0.8 

0.6 

0.2 

16.7p,s 

-21.6p,s 

-12.3p 

7.4s 

-7.7 

-0.3 

-16.2 

-8.4 

0.3 

-4.9 

-2.0 

-0.4p 

1.2 

-13.0 

-1.4s 

-0.5 

-4.0s 

7.5 

1.0 

-1.0s 

-4.8s 

1.4p 

-19.0s 

1.5 

12.8 

-2.5 

-1.8 

-4.2 

-4.5 

-13.3 

0.8 

-36.4 

-12.9 

0.4 

-5.7 

-6.5 

-0.3p 

-7.2 

-39.3 

-2.0 

0.1 

-1.0 

3.0 

-10.5 

-6.5 

-3.9 

4.0 

-1.5b,p 

-7.7 

-9.3 

-32.9s 

-8.7s 

-2.8 

-9.8 

-6.7 

-3.8 

0.9 

-5.2s 

2.8p 

-26.3 

-10.4 

-12.8 

0.0 

0.6 

-9.1 

2.5 

-6.4 

-2.0 

-2.8 

-1.3 

-6.2s 

0.2p 

-14.5 

-1.3 

-4.9 

4.1 

6.7 

3.5 

2011 

-0.1 

-9.0p 

0.0 

-4.9 

1.4 

3.3 

-15.2 

-5.1 

-10.0 

3.8 

-2.0 

-8.5 

4.9 

2.4s 

1.5 

-4.1 

-2.3 

-4.0 

-8.0 

-5.7s 

-3.6p 

-18.9 

1.0 

-5.6 

-0.3 

1.0 

-5.4 

Note:  

(i) Recent figures are based on the Eurostat house price index, in most cases going back to 2006. Earlier data were provided by the European Central Bank and OECD  

94 

 
  
(ii) s = EUROSTAT estimates, b = break in series, p = provisional 

95 

 
Table 85: Untransformed headline indicators: Private Sector Credit Flow as % of GDP 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

15.7 

15.7 

-3.2 

20.2 

4.8 

20.0 

na 

10.9 

18.7 

10.4 

8.4 

11.9 

8.9 

2.1 

na 

10.3 

na 

13.7 

7.9 

3.9 

21.9 

7.0 

na 

4.3 

2.1 

14.8 

15.8 

8.9 

5.5 

4.3 

12.7 

4.4 

22.1 

24.0 

7.7 

16.6 

4.7 

6.4 

14.7 

9.8 

3.7 

na 

15.3 

na 

12.2 

5.2 

0.9 

12.1 

8.8 

8.6 

8.0 

5.4 

-4.2 

18.5 

20.2 

14.3 

-3.5 

5.4 

0.3 

21.4 

9.5 

10.7 

17.1 

3.8 

7.0 

6.8 

14.3 

7.8 

na 

18.3 

na 

10.2 

6.8 

2.4 

9.2 

8.0 

8.7 

3.9 

8.9 

0.4 

3.9 

19.5 

5.8 

19.3 

-2.0 

27.1 

25.3 

11.9 

21.8 

6.8 

8.3 

10.8 

18.1 

10.0 

na 

12.8 

na 

7.0 

4.0 

2.1 

9.9 

9.2 

9.6 

3.1 

9.2 

7.5 

17.7 

18.6 

3.3 

21.9 

3.3 

24.9 

-0.9 

26.8 

24.8 

15.0 

27.8 

9.0 

9.4 

46.7 

26.4 

15.5 

na 

17.4 

11.9 

14.6 

7.7 

4.5 

13.7 

12.0 

13.6 

7.9 

8.2 

14.9 

18.0 

17.8 

20.5 

7.2 

24.6 

0.9 

40.3 

34.5 

16.9 

37.0 

10.7 

10.9 

10.4 

43.0 

19.0 

14.1 

18.0 

17.1 

12.7 

7.2 

10.0 

16.5 

22.7 

13.9 

9.4 

13.2 

10.7 

21.0 

22.2 

41.1 

8.6 

18.1 

3.0 

13.0 

36.4 

16.5 

12.3 

9.1 

6.7 

38.3 

14.3 

9.4 

-37.6 

29.2 

18.1 

7.5 

6.6 

12.1 

21.8 

27.9 

18.3 

12.4 

20.5 

20.3 

11.9 

8.5 

19.1 

1.0 

-2.1 

1.8 

2.6 

2.4 

3.8 

-3.0 

-1.8 

1.3 

15.5 

-6.1 

-11.5 

176.3 

5.4 

11.3 

6.3 

-3.5 

3.9 

7.5 

7.9 

4.1 

2.8 

-1.3 

4.8 

-12.1 

20.9 

39.9 

8.7 

18.7 

3.6 

32.2 

25.0 

17.0 

27.0 

12.6 

13.1 

38.8 

36.6 

27.2 

33.4 

22.0 

4.6 

9.2 

15.5 

12.0 

24.6 

34.3 

23.5 

10.3 

15.1 

23.3 

19.6 

96 

2010 

13.7 

0.1 

2.1 

5.6 

3.1 

-4.4 

0.3 

0.7 

1.4 

1.8 

3.8 

23.7 

-8.7 

-5.6 

7.3 

-21.6 

6.8 

3.3 

6.8 

3.6 

4.5 

1.7 

1.8 

3.3 

6.9 

2.8 

1.9 

2011 

11.6 

-6.7 

2.5 

-2.2 

4.8 

6.8 

4.0 

-5.5 

-4.1 

4.0 

2.6 

16.1 

-2.5 

-0.8 

2.5 

6.4 

2.2 

0.7 

4.1 

7.1 

-3.2 

1.8 

1.9 

3.3 

4.6 

6.3 

1.0 

 
  
Table 86: Untransformed headline indicators: Private Sector Debt as % of GDP 

2001 

2002 

2003 

2004 

2005 

179.5 

180.4 

193.9 

188.2 

185.0 

47.6 

59.5 

176.8 

133.0 

81.3 

150.0 

65.0 

132.5 

123.7 

86.5 

164.2 

49.5 

29.4 

na 

67.3 

na 

191.0 

127.2 

42.6 

184.0 

30.4 

64.4 

49.0 

124.6 

202.9 

157.3 

47.6 

61.4 

175.9 

135.9 

90.4 

160.7 

68.3 

139.5 

124.1 

89.5 

173.8 

54.4 

29.9 

na 

71.1 

na 

195.0 

126.8 

49.2 

187.9 

34.4 

66.7 

53.1 

126.7 

210.8 

167.5 

58.4 

55.8 

177.9 

135.5 

97.5 

153.7 

72.0 

147.8 

123.7 

93.4 

169.5 

61.8 

35.5 

na 

84.9 

na 

202.6 

128.9 

48.0 

192.6 

36.1 

70.6 

48.8 

134.0 

207.1 

173.0 

74.0 

56.6 

185.9 

131.1 

111.2 

171.3 

78.6 

159.9 

126.9 

97.6 

168.2 

74.5 

41.9 

na 

86.4 

178.1 

204.5 

128.1 

42.6 

193.1 

36.0 

75.3 

48.8 

137.4 

183.8 

182.9 

91.1 

57.2 

202.0 

128.2 

122.4 

192.8 

90.2 

176.6 

131.6 

103.5 

203.9 

94.8 

52.5 

na 

102.2 

180.6 

210.5 

132.3 

44.3 

200.2 

42.0 

85.2 

51.4 

141.6 

192.4 

194.4 

2006 

193.2 

100.0 

61.4 

215.0 

124.3 

150.1 

217.1 

98.0 

200.4 

136.8 

110.0 

199.7 

122.1 

64.5 

161.2 

110.8 

193.5 

212.6 

144.4 

52.3 

209.2 

67.7 

90.9 

55.1 

147.3 

192.9 

206.3 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2008 

217.3 

154.7 

73.0 

237.4 

123.6 

164.2 

279.0 

119.3 

220.5 

149.9 

122.1 

241.9 

132.1 

81.9 

221.2 

155.7 

200.7 

211.0 

156.5 

72.0 

240.3 

115.0 

117.4 

69.4 

168.9 

236.7 

221.2 

2009 

228.6 

174.9 

75.7 

250.5 

130.5 

174.8 

311.3 

122.7 

226.8 

156.8 

128.2 

261.7 

147.4 

88.2 

373.2 

170.6 

213.1 

225.5 

158.4 

72.0 

252.3 

122.9 

126.5 

73.9 

179.3 

248.9 

219.7 

2010 

232.3 

170.1 

76.9 

244.0 

127.2 

148.5 

315.3 

125.2 

227.2 

158.6 

129.1 

278.1 

140.4 

80.3 

344.9 

154.0 

209.3 

225.3 

164.4 

74.2 

250.0 

76.4 

128.2 

72.8 

182.8 

232.8 

209.2 

2011 

235.7 

146.0 

78.1 

237.6 

127.8 

132.9 

309.5 

125.0 

217.9 

160.4 

128.6 

287.5 

125.1 

70.1 

326.3 

167.3 

209.9 

224.6 

160.7 

79.5 

249.4 

71.8 

128.3 

76.3 

178.8 

232.2 

204.6 

2007 

203.2 

131.8 

65.5 

224.1 

122.3 

158.7 

223.7 

107.6 

215.0 

142.5 

118.2 

220.6 

127.5 

81.5 

205.3 

125.7 

192.0 

210.9 

151.9 

58.6 

222.9 

106.6 

105.8 

64.3 

150.6 

210.3 

205.7 

97 

 
  
Table 87: Untransformed headline indicators: General Government Debt as % of GDP 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

106.5 

103.4 

66.0 

23.9 

49.6 

59.1 

4.8 

35.2 

52.4 

27.1 

49.5 

60.7 

5.7 

32.0 

103.7 

101.7 

55.6 

56.9 

52.6 

59.0 

98.4 

44.4 

28.6 

47.2 

64.4 

5.6 

30.7 

97.4 

48.8 

63.2 

94.0 

37.0 

28.9 

45.1 

66.2 

5.0 

29.5 

98.9 

46.3 

65.0 

92.0 

27.5 

28.4 

37.8 

68.5 

4.6 

27.3 

88.0 

21.6 

28.3 

32.1 

68.0 

4.4 

24.6 

84.0 

17.2 

27.9 

27.1 

65.2 

3.7 

25.0 

89.2 

13.7 

28.7 

33.4 

66.8 

4.5 

44.5 

95.7 

14.6 

34.2 

40.7 

74.5 

7.2 

64.9 

95.5 

16.2 

37.8 

42.7 

82.5 

6.7 

92.2 

101.2 

107.5 

107.2 

112.9 

129.7 

148.3 

43.2 

66.7 

39.7 

64.0 

36.3 

64.2 

40.2 

68.2 

53.9 

79.2 

61.5 

82.3 

97.8 

16.3 

40.8 

46.4 

80.5 

6.1 

106.4 

170.6 

69.3 

86.0 

108.2 

105.1 

103.9 

103.4 

105.7 

106.3 

103.3 

106.1 

116.4 

119.2 

120.7 

61.2 

14.1 

23.0 

6.3 

52.7 

60.5 

50.7 

66.8 

37.6 

53.8 

25.7 

26.5 

48.9 

42.5 

54.7 

37.8 

65.1 

13.6 

22.2 

6.3 

55.9 

59.1 

50.5 

66.2 

42.2 

56.8 

24.9 

27.8 

43.4 

41.5 

52.5 

37.7 

69.7 

14.7 

21.0 

6.1 

58.6 

67.6 

52.0 

65.3 

47.1 

59.4 

21.5 

27.2 

42.4 

44.5 

51.7 

39.1 

70.9 

15.0 

19.3 

6.3 

59.5 

71.7 

52.4 

64.7 

45.7 

61.9 

18.7 

27.3 

41.5 

44.4 

50.3 

41.0 

69.4 

12.5 

18.3 

6.1 

61.7 

69.7 

51.8 

64.2 

47.1 

67.7 

15.8 

26.7 

34.2 

41.7 

50.4 

42.2 

64.7 

10.7 

17.9 

6.7 

65.9 

64.0 

47.4 

62.3 

47.7 

69.4 

12.4 

26.4 

30.5 

39.6 

45.3 

43.3 

48.9 

19.8 

15.5 

14.4 

73.0 

62.0 

58.5 

63.8 

47.1 

71.7 

13.4 

22.0 

27.9 

33.9 

38.8 

52.3 

58.5 

36.7 

29.3 

15.3 

79.8 

67.6 

60.8 

69.2 

50.9 

83.2 

23.6 

35.0 

35.6 

43.5 

42.6 

67.8 

61.3 

44.5 

37.9 

19.2 

81.8 

68.3 

63.1 

72.0 

54.8 

93.5 

30.5 

38.6 

41.0 

48.6 

39.5 

79.4 

71.1 

42.2 

38.5 

18.3 

81.4 

70.9 

65.5 

72.4 

56.4 

108.1 

33.4 

46.9 

43.3 

49.0 

38.4 

85.0 

58.8 

9.0 

16.8 

6.7 

67.0 

61.9 

45.3 

60.2 

45.0 

68.4 

12.8 

23.1 

29.6 

35.2 

40.2 

44.2 

98 

 
 
  
Table 88: Untransformed headline indicators: Unemployment rate 

2001 

2002 

2003 

2004 

2005 

2006 

2007 

2008 

2009 

2010 

2011 

BE 

BG 

CZ 

DK 

DE 

EE 

IE 

EL 

ES 

FR 

IT 

CY 

LV 

LT 

LU 

HU 

MT 

NL 

AT 

PL 

PT 

RO 

SI 

SK 

FI 

SE 

UK 

6.6 

19.5 

8.0 

4.5 

7.9 

12.6 

3.9 

10.7 

10.5 

8.2 

9.0 

4.0 

12.9 

17.4 

1.9 

5.6 

7.6 

2.5 

3.6 

7.5 

18.2 

7.3 

4.6 

8.7 

10.3 

4.5 

10.3 

11.4 

8.3 

8.5 

3.6 

12.8 

13.8 

2.6 

5.6 

7.4 

3.1 

4.2 

8.2 

13.7 

7.8 

5.4 

9.8 

10.1 

4.6 

9.7 

11.4 

8.9 

8.4 

4.2 

11.3 

12.4 

3.8 

5.8 

7.7 

4.2 

4.3 

8.4 

12.1 

8.3 

5.5 

10.5 

9.7 

4.5 

10.5 

10.9 

9.3 

8.0 

4.7 

11.2 

11.4 

5.0 

6.1 

7.2 

5.1 

4.9 

8.5 

10.1 

7.9 

4.8 

11.3 

7.9 

4.4 

9.9 

9.2 

9.3 

7.7 

5.5 

9.6 

8.3 

4.6 

7.2 

7.3 

5.3 

5.2 

8.3 

9.0 

7.1 

3.9 

10.3 

5.9 

4.5 

8.9 

8.5 

9.2 

6.8 

4.7 

7.3 

5.6 

4.6 

7.5 

6.9 

4.4 

4.8 

18.3 

20.0 

19.7 

19.0 

17.8 

13.9 

4.6 

6.6 

6.2 

5.7 

7.5 

6.3 

7.1 

6.8 

6.7 

7.5 

8.0 

6.3 

8.6 

7.2 

6.5 

8.6 

7.3 

6.0 

7.5 

6.9 

5.3 

3.8 

8.7 

4.6 

4.6 

8.3 

8.3 

8.4 

6.1 

4.1 

6.5 

4.3 

4.2 

7.4 

6.5 

3.6 

4.4 

9.6 

8.9 

6.4 

4.9 

19.5 

18.8 

17.7 

18.4 

16.4 

13.5 

11.2 

9.1 

5.8 

5.0 

9.1 

6.0 

5.1 

9.0 

6.6 

5.0 

8.8 

7.4 

4.7 

8.4 

7.7 

4.8 

7.7 

7.1 

5.4 

6.9 

6.1 

5.3 

99 

7.0 

5.6 

4.4 

3.4 

7.5 

5.5 

6.3 

7.7 

11.3 

7.8 

6.7 

3.8 

8.0 

5.8 

4.9 

7.8 

6.0 

3.1 

3.8 

7.1 

8.5 

5.8 

4.4 

9.6 

6.4 

6.2 

5.6 

7.9 

6.8 

6.7 

6.0 

7.8 

13.8 

11.9 

9.5 

18.0 

9.5 

7.8 

5.5 

18.2 

13.7 

5.1 

10.0 

6.9 

3.7 

4.8 

8.2 

10.6 

6.9 

5.9 

12.1 

8.2 

8.3 

7.6 

8.3 

10.3 

7.3 

7.5 

7.1 

16.9 

13.7 

12.6 

20.1 

9.7 

8.4 

6.4 

19.8 

17.8 

4.6 

11.2 

6.9 

4.5 

4.4 

9.6 

12.0 

7.3 

7.3 

14.5 

8.4 

8.4 

7.8 

7.2 

11.3 

6.7 

7.6 

5.9 

12.5 

14.4 

17.7 

21.7 

9.6 

8.4 

7.9 

16.2 

15.4 

4.8 

10.9 

6.5 

4.4 

4.2 

9.7 

12.9 

7.4 

8.2 

13.6 

7.8 

7.5 

8.0 

 
 
  
100