COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN CENTRAL BANK AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE Alert Mechanism Report 2018 (prepared in accordance with Articles 3 and 4 of Regulation (EU) No 1176/2011 on the prevention and correction of macroeconomic imbalances)
Date: 2017-11-22
Institutions: Directorate-General for Economic and Financial Affairs, European Commission
Subjects: EU Member State, economic disparity, economic growth, economic recovery, economic statistics, euro area, macroeconomics, multilateral surveillance, national accounts, public debt

EN 

  EN 

   EUROPEAN COMMISSION  Brussels, 22.11.2017 SWD(2017) 661 final  COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX   Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN CENTRAL BANK AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE  Alert Mechanism Report 2018  (prepared in accordance with Articles 3 and 4 of Regulation (EU) No 1176/2011 on the prevention and correction of macroeconomic imbalances) {COM(2017) 771 final}  
 
 
European 
Commission 

                             Statistical Annex of 
                               Alert Mechanism Report 2018 

          This document was prepared by the European Commission's Directorate-General Eurostat 

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Table of Contents 
BACKGROUND INFORMATION ......................................................................................................................... 8 

STATISTICAL METHODOLOGY IMPROVEMENTS ............................................................................................. 9 

IMPROVING THE QUALITY FRAMEWORK AND ONGOING WORK ................................................................. 12 

Chapter 1: Tables by year - Headline indicators ........................................................................................ 14 

Table 1.1: MIP Scoreboard 2016 ................................................................................................................. 14 

Table 1.2: MIP Scoreboard 2015 ................................................................................................................. 15 

Table 1.3: MIP Scoreboard 2014 ................................................................................................................. 16 

Table 1.4: MIP Scoreboard 2013 ................................................................................................................. 17 

Table 1.5: MIP Scoreboard 2012 ................................................................................................................. 18 

Table 1.6: MIP Scoreboard 2011 ................................................................................................................. 19 

Table 1.7: MIP Scoreboard 2010 ................................................................................................................. 20 

Table 1.8: MIP Scoreboard 2009 ................................................................................................................. 21 

Table 1.9: MIP Scoreboard 2008 ................................................................................................................. 22 

Table 1.10: MIP Scoreboard 2007 ............................................................................................................... 23 

Chapter 2: Tables by year - Auxiliary indicators used in the economic reading of the MIP scoreboard
 ......................................................................................................................................................................... 24 

Table 2.1: Auxiliary indicators, 2016 .......................................................................................................... 24 

Table 2.1 (continued): Auxiliary indicators, 2016 ....................................................................................... 25 

Table 2.2: Auxiliary indicators, 2015 .......................................................................................................... 26 

Table 2.2 (continued): Auxiliary indicators, 2015 ....................................................................................... 27 

Table 2.3: Auxiliary indicators, 2014 .......................................................................................................... 28 

Table 2.3 (continued): Auxiliary indicators, 2014 ....................................................................................... 29 

Table 2.4: Auxiliary indicators, 2013 .......................................................................................................... 30 

Table 2.4 (continued): Auxiliary indicators, 2013 ....................................................................................... 31 

Table 2.5: Auxiliary indicators, 2012 .......................................................................................................... 32 

Table 2.5 (continued): Auxiliary indicators, 2012 ....................................................................................... 33 

Table 2.6: Auxiliary indicators, 2011 .......................................................................................................... 34 

Table 2.6 (continued): Auxiliary indicators, 2011 ....................................................................................... 35 

Table 2.7: Auxiliary indicators, 2010 .......................................................................................................... 36 

Table 2.7 (continued): Auxiliary indicators, 2010 ....................................................................................... 37 

Table 2.8: Auxiliary indicators, 2009 .......................................................................................................... 38 

Table 2.8 (continued): Auxiliary indicators, 2009 ....................................................................................... 39 

Table 2.9: Auxiliary indicators, 2008 .......................................................................................................... 40 

Table 2.9 (continued): Auxiliary indicators, 2008 ....................................................................................... 41 

Table 2.10: Auxiliary indicators, 2007 ........................................................................................................ 42 
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Table 2.10 (continued): Auxiliary indicators, 2007 ..................................................................................... 43 

Chapter 3: Tables by indicator..................................................................................................................... 44 

Table 3.1: Current account balance, % of GDP (3 year average) ................................................................ 44 

Table 3.2: Current account balance (% of GDP) ......................................................................................... 45 

Table 3.3: Net International Investment Position (% of GDP) .................................................................... 46 

Table 3.4: Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change) ............... 47 

Table 3.5: Real effective exchange rate - 42 trading partners, HICP deflator (1 year % change) ............... 48 

Table 3.6: Export market share - % of world exports (5 year % change) ................................................... 49 

Table 3.7: Export market share - % of world exports (1 year % change) ................................................... 50 

Table 3.8: Nominal unit labour cost index, 2010=100 (3 year % change) .................................................. 51 

Table 3.9: Nominal unit labour cost index, 2010=100 (1 year % change) .................................................. 52 

Table 3.10: House price index (2015=100), deflated (1 year % change) .................................................... 53 

Table 3.11: Private sector credit flow, consolidated (% of GDP) ............................................................... 54 

Table 3.12: Private sector debt, consolidated (% of GDP) .......................................................................... 55 

Table 3.13: General government gross debt (% of GDP) ............................................................................ 56 

Table 3.14: Unemployment rate (3 year average) ....................................................................................... 57 

Table 3.15: Unemployment rate (%) ........................................................................................................... 58 

Table 3.16: Total financial sector liabilities, non-consolidated (1 year % change) ..................................... 59 

Table 3.17: Total financial sector liabilities, non-consolidated (Millions NC) ........................................... 60 

Table 3.18: Activity rate - % of total population aged 15-64 (3 year change in p.p.) ................................. 61 

Table 3.19: Activity rate - % of total population aged 15-64 ...................................................................... 62 

Table 3.20: Long-term unemployment rate - % of active population aged 15-74 (3 year change in p.p.) .. 63 

Table 3.21: Long-term unemployment rate - % of active population aged 15-74 ....................................... 64 

Table 3.22: Youth unemployment rate - % of active population aged 15-24 (3 year change in p.p.) ......... 65 

Table 3.23: Youth unemployment rate - % of active population aged 15-24 .............................................. 66 

Table 3.24: Real GDP (1 year % change) ................................................................................................... 67 

Table 3.25: Gross fixed capital formation (% of GDP) ............................................................................... 68 

Table 3.26: Gross domestic expenditure on R&D (% of GDP) .................................................................. 69 

Table 3.27: Current plus capital account - Net lending-borrowing (% of GDP) ......................................... 70 

Table 3.28: Net external debt (% of GDP) .................................................................................................. 71 

Table 3.29: Foreign direct investment in the reporting economy - flows (% of GDP) ............................... 72 

Table 3.30: Foreign direct investment in the reporting economy - stocks (% of GDP) .............................. 73 

Table 3.31: Net trade balance of energy products (% of GDP) ................................................................... 74 

Table 3.32: Real effective exchange rate - Euro Area trading partners (3 year % change) ......................... 75 

Table 3.33: Export performance against advanced economies (5 year % change) ..................................... 76 

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Table 3.34: Terms of trade (5 year % change) ............................................................................................ 77 

Table 3.35: Export market share, volume (1 year % change) ..................................................................... 78 

Table 3.36: Real labour productivity (1 year % change) ............................................................................. 79 

Table 3.37: Nominal unit labour cost index, 2010=100 (10 year % change) .............................................. 80 

Table 3.38: Unit labour cost performance relative to EA (10 year % change) ............................................ 81 

Table 3.39: House price index (2015=100) - nominal (3 year % change) ................................................... 82 

Table 3.40: Residential construction (% of GDP) ....................................................................................... 83 

Table 3.41: Private sector debt, non-consolidated (% of GDP) .................................................................. 84 

Table 3.42: Financial sector leverage (debt-to-equity), non-consolidated (%) ........................................... 85 

Table 3.43: Employment rate (1 year % change) ........................................................................................ 86 

Table 3.44: Young people neither in employment nor in education and training - % of total population 
aged 15-24 ................................................................................................................................................... 87 

Table 3.45: People at risk of poverty or social exclusion - % of total population ....................................... 88 

Table 3.46: People at risk of poverty after social transfers - % of total population .................................... 89 

Table 3.47: Severely materially deprived people - % of total population ................................................... 90 

Table 3.48: People living in households with very low work intensity - % of total population aged 0-59 . 91 

Chapter 4: Tables by Member States - Headline indicators ...................................................................... 92 

Table 4.1: The MIP scoreboard for Belgium ............................................................................................... 92 

Table 4.2: The MIP scoreboard for Bulgaria ............................................................................................... 93 

Table 4.3: The MIP scoreboard for Czech Republic ................................................................................... 94 

Table 4.4: The MIP scoreboard for Denmark .............................................................................................. 95 

Table 4.5: The MIP scoreboard for Germany .............................................................................................. 96 

Table 4.6: The MIP scoreboard for Estonia ................................................................................................ 97 

Table 4.7: The MIP scoreboard for Ireland ................................................................................................. 98 

Table 4.8: The MIP scoreboard for Greece ................................................................................................. 99 

Table 4.9: The MIP scoreboard for Spain ................................................................................................. 100 

Table 4.10: The MIP scoreboard for France .............................................................................................. 101 

Table 4.11: The MIP scoreboard for Croatia ............................................................................................. 102 

Table 4.12: The MIP scoreboard for Italy ................................................................................................. 103 

Table 4.13: The MIP scoreboard for Cyprus ............................................................................................. 104 

Table 4.14: The MIP scoreboard for Latvia .............................................................................................. 105 

Table 4.15: The MIP scoreboard for Lithuania ......................................................................................... 106 

Table 4.16: The MIP scoreboard for Luxembourg .................................................................................... 107 

Table 4.17: The MIP scoreboard for Hungary .......................................................................................... 108 

Table 4.18: The MIP scoreboard for Malta ............................................................................................... 109 

Table 4.19: The MIP scoreboard for Netherlands ..................................................................................... 110 
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Table 4.20: The MIP scoreboard for Austria ............................................................................................. 111 

Table 4.21: The MIP scoreboard for Poland ............................................................................................. 112 

Table 4.22: The MIP scoreboard for Portugal ........................................................................................... 113 

Table 4.23: The MIP scoreboard for Romania .......................................................................................... 114 

Table 4.24: The MIP scoreboard for Slovenia .......................................................................................... 115 

Table 4.25: The MIP scoreboard for Slovakia .......................................................................................... 116 

Table 4.26: The MIP scoreboard for Finland ............................................................................................ 117 

Table 4.27: The MIP scoreboard for Sweden ............................................................................................ 118 

Table 4.28: The MIP scoreboard for United Kingdom .............................................................................. 119 

Chapter 5: Tables by Member States - Auxiliary indicators used in the economic reading of the MIP 
scoreboard .................................................................................................................................................... 120 

Table 5.1: Auxiliary indicators for Belgium ............................................................................................. 120 

Table 5.1 (continued): Auxiliary indicators for Belgium .......................................................................... 121 

Table 5.2: Auxiliary indicators for Bulgaria.............................................................................................. 122 

Table 5.2 (continued): Auxiliary indicators for Bulgaria .......................................................................... 123 

Table 5.3: Auxiliary indicators for Czech Republic .................................................................................. 124 

Table 5.3 (continued): Auxiliary indicators for Czech Republic............................................................... 125 

Table 5.4: Auxiliary indicators for Denmark ............................................................................................ 126 

Table 5.4 (continued): Auxiliary indicators for Denmark ......................................................................... 127 

Table 5.5: Auxiliary indicators for Germany ............................................................................................ 128 

Table 5.5 (continued): Auxiliary indicators for Germany ......................................................................... 129 

Table 5.6: Auxiliary indicators for Estonia ............................................................................................... 130 

Table 5.6 (continued): Auxiliary indicators for Estonia ............................................................................ 131 

Table 5.7: Auxiliary indicators for Ireland ................................................................................................ 132 

Table 5.7 (continued): Auxiliary indicators for Ireland ............................................................................. 133 

Table 5.8: Auxiliary indicators for Greece ................................................................................................ 134 

Table 5.8 (continued): Auxiliary indicators for Greece ............................................................................. 135 

Table 5.9: Auxiliary indicators for Spain .................................................................................................. 136 

Table 5.9 (continued): Auxiliary indicators for Spain ............................................................................... 137 

Table 5.10: Auxiliary indicators for France .............................................................................................. 138 

Table 5.10 (continued): Auxiliary indicators for France ........................................................................... 139 

Table 5.11: Auxiliary indicators for Croatia ............................................................................................. 140 

Table 5.11 (continued): Auxiliary indicators for Croatia .......................................................................... 141 

Table 5.12: Auxiliary indicators for Italy .................................................................................................. 142 

Table 5.12 (continued): Auxiliary indicators for Italy ............................................................................... 143 

Table 5.13: Auxiliary indicators for Cyprus .............................................................................................. 144 
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Table 5.13 (continued): Auxiliary indicators for Cyprus .......................................................................... 145 

Table 5.14: Auxiliary indicators for Latvia ............................................................................................... 146 

Table 5.14 (continued): Auxiliary indicators for Latvia ............................................................................ 147 

Table 5.15: Auxiliary indicators for Lithuania .......................................................................................... 148 

Table 5.15 (continued): Auxiliary indicators for Lithuania ....................................................................... 149 

Table 5.16: Auxiliary indicators for Luxembourg ..................................................................................... 150 

Table 5.16 (continued): Auxiliary indicators for Luxembourg ................................................................. 151 

Table 5.17: Auxiliary indicators for Hungary ........................................................................................... 152 

Table 5.17 (continued): Auxiliary indicators for Hungary ........................................................................ 153 

Table 5.18: Auxiliary indicators for Malta ................................................................................................ 154 

Table 5.18 (continued): Auxiliary indicators for Malta ............................................................................. 155 

Table 5.19: Auxiliary indicators for Netherlands ...................................................................................... 156 

Table 5.19 (continued): Auxiliary indicators for Netherlands ................................................................... 157 

Table 5.20: Auxiliary indicators for Austria ............................................................................................. 158 

Table 5.20 (continued): Auxiliary indicators for Austria .......................................................................... 159 

Table 5.21: Auxiliary indicators for Poland .............................................................................................. 160 

Table 5.21 (continued): Auxiliary indicators for Poland ........................................................................... 161 

Table 5.22: Auxiliary indicators for Portugal ............................................................................................ 162 

Table 5.22 (continued): Auxiliary indicators for Portugal ........................................................................ 163 

Table 5.23: Auxiliary indicators for Romania ........................................................................................... 164 

Table 5.23 (continued): Auxiliary indicators for Romania ....................................................................... 165 

Table 5.24: Auxiliary indicators for Slovenia ........................................................................................... 166 

Table 5.24 (continued): Auxiliary indicators for Slovenia ........................................................................ 167 

Table 5.25: Auxiliary indicators for Slovakia ........................................................................................... 168 

Table 5.25 (continued): Auxiliary indicators for Slovakia ........................................................................ 169 

Table 5.26: Auxiliary indicators for Finland ............................................................................................. 170 

Table 5.26 (continued): Auxiliary indicators for Finland .......................................................................... 171 

Table 5.27: Auxiliary indicators for Sweden ............................................................................................. 172 

Table 5.27 (continued): Auxiliary indicators for Sweden ......................................................................... 173 

Table 5.28: Auxiliary indicators for United Kingdom .............................................................................. 174 

Table 5.28 (continued): Auxiliary indicators for United Kingdom ........................................................... 175 

Chapter 6: Tables by year - MIP Scoreboard (base indicators) ............................................................. 176 

Table 6.1: MIP Scoreboard (base indicators) 2016 ................................................................................... 176 

Table 6.2: MIP Scoreboard (base indicators) 2015 ................................................................................... 177 

Table 6.3: MIP Scoreboard (base indicators) 2014 ................................................................................... 178 

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Table 6.4: MIP Scoreboard (base indicators) 2013 ................................................................................... 179 

Table 6.5: MIP Scoreboard (base indicators) 2012 ................................................................................... 180 

Table 6.6: MIP Scoreboard (base indicators) 2011 ................................................................................... 181 

Table 6.7: MIP Scoreboard (base indicators) 2010 ................................................................................... 182 

Table 6.8: MIP Scoreboard (base indicators) 2009 ................................................................................... 183 

Table 6.9: MIP Scoreboard (base indicators) 2008 ................................................................................... 184 

Table 6.10: MIP Scoreboard (base indicators) 2007 ................................................................................. 185 

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BACKGROUND INFORMATION 
This  Statistical  Annex  to  the  2018  Alert  Mechanism  Report  (AMR  2018)  presents  the 
Macroeconomic Imbalance Procedure (MIP) scoreboard indicators and auxiliary indicators used in 
the  economic  reading  of  the  MIP  scoreboard.  The  MIP  scoreboard  and  auxiliary  indicators  are 
mainly  compiled  by  Eurostat,  from  the  data  transmitted  by  Member  States,  following  European 
legislation.  The  MIP  scoreboard  indicators  are  presented  with  their  indicative  thresholds  (used  in 
the AMR) while no threshold is applied to the auxiliary indicators. 

The policy framework  of the MIP relies on timely and high quality socio-economic and financial 
statistics. Since the publication of the first Statistical Annex in 2012, significant progress has been 
achieved towards enhancing the standards and methods used for the compilation of underlying data 
as well as strengthening the statistical quality assurance framework. 

The  MIP  Scoreboard  consists  of  fourteen  scoreboard  indicators  measuring  internal  and  external 
imbalances as  well as  social and labour  market developments. The MIP scoreboard indicators for 
the  last  ten  years  are  displayed  in  this  statistical  annex  by  year  in  chapter  1,  and  by  country  in 
chapter  4.  Table  1  lists the  MIP  scoreboard indicators together  with  detailed information  on  their 
data sources. 

The  cut-off  date  for  the  data,  that  is  the  date  on  which  the  data  were  extracted  from  the  Eurostat 
database for the preparation of this document, was 24th October 2017. For additional information 
about the data, please contact ESTAT-MIP@ec.europa.eu. 

Table 1. MIP scoreboard indicators (AMR 2018) 

Indicator 

Unit 

Data source 

Statistical 
domain 

Current account balance (% of GDP) 

Net international investment position  
Real effective exchange rate (42 trading partners, 
HICP deflator) 
Export market share (% of world exports) 

3 year average 

% of GDP 

Eurostat 

Eurostat 

BoP/NA 

BoP/NA 

3 year % change 

DG ECFIN 

5 year % change  

Eurostat, IMF 

Nominal unit labour cost index (2010=100) 

3 year % change 

Eurostat 

BoP 

NA 

House price index (2015=100), deflated 
Private sector credit flow, consolidated 
Private sector debt, consolidated 
General government gross debt  
Unemployment rate 
Total financial sector liabilities, non-consolidated 
Activity rate (% of total population aged 15-64) 
Long-term unemployment rate (% of active 
population aged 15-74) 
Youth unemployment rate (% of active population 
aged 15-24) 
Note: NA- National Accounts; BoP – Balance of Payments; FA – Financial Accounts; GFS – Government Finance Statistics; and 
LFS – Labour Force Survey/Labour Market Statistics; p.p. – percentage points 

1 year % change  
% of GDP 
% of GDP 
% of GDP 
3 year average 
1 year % change  
3 year change in p.p. 

Price statistics / NA 
NA (FA) 
NA (FA) 
EDP/GFS 
EU-LFS 
NA (FA) 
EU-LFS 

Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 

3 year change in p.p. 

3 year change in p.p. 

EU-LFS 

EU-LFS 

Eurostat 

Eurostat 

Supplementing  the  MIP  scoreboard  indicators,  a  list  of  28  auxiliary  indicators  (see  Table  2) 
provides additional information on aspects linked to the general macroeconomic situation, nominal 
and  real  convergence  inside  and  outside  the  European  Union  and  the  euro  area,  detailed  data  on 
external  liabilities,  including  foreign  direct  investment  and  net  external  debt,  and  social  statistics. 
The  auxiliary  indicators  enhance  the  information  base  for  understanding  potential  imbalances,  as 
well as the adjustment capacity of the economy. The auxiliary indicators are also presented in this 
Statistical Annex by year (in Chapter 2) and by country (in Chapter 5). 

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Table 2. MIP auxiliary indicators (AMR 2018) 

Indicator 

Unit 

Data source 

Real GDP 
Gross fixed capital formation 
Gross domestic expenditure on R&D 

1 year % change 
% of GDP 
% of GDP 

Current plus capital account (Net lending-borrowing)  % of GDP 
% of GDP 
Net external debt 
% of GDP 
Foreign direct investment in the reporting economy – 
net inward flows 
Foreign direct investment in the reporting economy - 
stocks 
Net trade balance of energy products 

% of GDP 

% of GDP 

Eurostat 
Eurostat 
Eurostat 

Eurostat 
Eurostat 
Eurostat 

Statistical 
domain 

NA 
NA 
Business  Statistics/ 
NA 
BoP/NA 
BoP/ NA 
BoP/NA 

Eurostat 

BoP/NA 

Eurostat 

International  Trade/ 
NA 

NA 
NA 

3 year % change 

DG ECFIN 

Eurostat/OECD  BoP 
NA 
Eurostat 
Eurostat /IMF 
Eurostat 
Eurostat 
DG ECFIN 
Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 

Real  effective  exchange  rates  –  euro  area  trading 
partners 
Export performance against advanced economies 
Terms of trade 
Export market share - in volume 
Labour productivity 
Nominal unit labour cost index (2010=100) 
Unit labour cost performance relative to euro area 
House price index (2015=100) - nominal 
Residential construction 
Private sector debt, non-consolidated 
Financial sector leverage, non-consolidated  
Employment rate 
Activity rate 

5 year % change 
5 year % change 
1 year % change 
1 year % change  
10 year % change  
10 year % change 
3 year % change 
% of GDP 
% of GDP 
% debt to equity 
1 year % change 
%  of  total  population 
aged 15-64 
% of active 
population aged 15-74 
% of active 
population aged 15-24 
%  of  total  population 
aged 15-24 
% of total population  
% of total population 
% of total population 
%  of  total  population 
aged 0-59 
Note: NA- National Accounts; BoP – Balance of Payments; FA – Financial Accounts; LFS – Labour Force Survey/Labour Market 
Statistics; SILC – Statistics on Income and Living Conditions; p.p. – percentage points 

Young  people  neither 
education and training 
People at risk of poverty or social exclusion  
People at risk of poverty after social transfers  
Severely materially deprived people  
People  living  in  households  with  very  low  work 
intensity  

Price statistics / NA 
NA 
NA (FA) 
NA (FA) 
NA 
EU-LFS 

EU-SILC 
EU-SILC 
EU-SILC 
EU-SILC 

Eurostat 
Eurostat 
Eurostat 
Eurostat 

Long term unemployment rate 

Youth unemployment rate 

in  employment  nor 

EU-LFS 

EU-LFS 

EU-LFS 

Eurostat 

Eurostat 

Eurostat 

in 

In Chapter 3, the data are presented by indicator to allow easy comparisons of Member States for 
the  10-year  time  series.  In  addition,  short  descriptions  of  the  indicators  as  well  as  detailed 
information on sources and methods employed for their compilation are provided. 

STATISTICAL METHODOLOGY IMPROVEMENTS 

Since 2014, MIP indicators stemming from the National Accounts (NA) and Balance of Payments 
(BoP) and International Investment Position (IIP) domains are computed following the ESA 2010 
and  BPM6  statistical  standards  (the  European  System  of  Accounts  2010  and  the  Balance  of 
Payments and International Investment Position Manual, sixth edition) that guarantee a high level of 
comparability across the European Union Member States. The successful implementation of these 
standards improved the quality of the MIP underlying data.  

In  particular,  concerning  indicators  from  the  Balance  of  Payments  and  International  Investment 
Position, the revision of international standards and changeover to BPM6 was translated into new 
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data  requirements  via  the  adoption  of  Commission  Regulation  (EU)  No  555/2012  and  ECB 
Guideline  (ECB/2011/23).  According  to  the  legislation,  Member  States  shall  submit  to  the 
Commission (Eurostat) data following the BPM6 requirements from 2014 onwards only. The length 
of time  series available for the computation of MIP indicators  based on the BPM6  might then be 
limited. 

However,  in  order  to  maintain  comparability  over  time,  the  majority  of  countries  have  back-
calculated  the  main  BoP  time  series  according  to  the  new  standards.  As  the  transmission  of  back 
data by Member States is voluntary, a few data gaps remained for a minority of countries. In order 
to  enlarge  data  coverage  and  support  policy  analysis,  Eurostat  has  taken  measures  in  close 
cooperation with Member States to improve the situation with regard to the availability of BoP/IIP 
back data, including through targeted grants. Moreover, Eurostat has complemented Member States' 
efforts by producing some estimates which were then approved by the concerned Member States. 
As a result, data coverage for the ten years timespan needed for this year's Statistical Annex (2007-
2016)  has  improved  substantially  and  coverage  is  almost  complete,  with  just  one  2007  value 
missing  for  the  Export  market  shares  indicator,  due  to  its  definition  which  requires  a  longer  time 
series.  

Following the adoption of the new statistical standards, some BoP series have been discontinued at 
national level. Therefore, values for the MIP auxiliary indicator on Net external debt could not be 
made available for the United Kingdom. 

The  implementation  of  the  standards  ensures  conceptual  consistency  between  National  Accounts 
and  Balance  of  Payments/  International  Investment  Position.  However,  in  practice,  differences  in 
the different components of the accounts (the BoP/IIP and NA Rest of the world data) still persist.  

Eurostat has further elaborated on the reconciliation of the Balance of Payments and the Rest of the 
World  (RoW)  account  at  national  level.  After  the  implementation  of  the  BPM6  methodology  in 
2014,  Eurostat  has  regularly  assessed  the  state  of  consistency  between  Balance  of  Payments  and 
National Accounts statistics, with a focus on the nonfinancial accounts. In order to maximize efforts 
at European level, Eurostat contributed to a Task Force on the Consistency between NA and BoP, 
which  was  established  at  the  beginning  of  2016  by  the  Committee  for  Monetary,  Financial  and 
Balance  of  Payments  statistics  (CMFB).  The  purpose  of  this  Task  Force  is  to  determine  the 
discrepancies between these two datasets, identify the reasons behind these discrepancies, and make 
recommendations for addressing them. 

Additional changes in 2017 

The introduction of ESA 2010 ensured the consistency of GDP compilation with the international 
standards for National Accounts, hence leading to a better comparability not only across European 
Union  countries  but  also  on  a  global  basis.  However,  some  challenges  remain  in  relation  to 
globalisation, for example the impact on GDP of the relocation of business of large multinational 
enterprises in small and open economies.  

Moreover, a common harmonised European revision policy for National Accounts and balance of 
payments  statistics  covering  benchmark  and  routine  revisions  has  been  recently  agreed  and  its 
implementation  has  started  on  a  voluntary  basis.  The  policy  includes  differentiated  guidelines 
regarding  the  timing  and  depth  of  revisions  to  quarterly  and  annual  data.  It  aims  at  improving 
adherence  to  the  twofold  principle  of  alignment  at  national  level  between  statistical  domains  and 
coordinated alignment at European Union level across the countries. 

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In the Balance of Payments domain, progress has been registered concerning the asymmetries in 
trade in goods and services. To address the problem of asymmetries in mirror trade data, Eurostat 
organized  several  workshops  in  the  course  of  2016  and  2017  with  Member  States.  During  these 
workshops,  experts  from  Member  States  had  the  opportunity  to  exchange  experiences,  discuss 
bilaterally and decide on specific actions to resolve their corresponding trade asymmetries. Due to 
the implementation of methodological improvements in 2017, the IIP of Belgium has been revised 
backwards. 

In the domain of Financial Accounts, most remaining derogations of countries were due to expire 
with  the  official  data  transmission  at  end-September  2017.  However,  these  have  a  very  limited 
impact  on  the  subsector  and  instrument  breakdowns  of  the  MIP  indicators  based  on  Financial 
Accounts.  Moreover,  in  Luxembourg  improvements  in  sources  and  methods  have  permitted  to 
enhance  data  quality  by  improving  compliance  with  ESA  2010  for  recent  years,  and  resulting  in 
large revisions. Furthermore, the length of the time series has been extended back to 2002. 

Concerning House Prices, starting with the release of the first quarter 2017 data, the reference year 
of  the  House  Price  Index  (HPI)  series  was  changed  from  2010  to  2015,  as  provided  for  in 
Regulation  (EU)  2016/792.  As  a  consequence,  the  deflated  HPI  was  also  re-referenced  to 
2015=100. Due to the change of the reference year, a small proportion of the published rates for the 
HPI were revised by plus or minus 0.1 percentage points. 

From  2014  France  started  extending  the  Labour  Force  Survey  to  its  overseas  departments  and 
regions (DROM) - Guadeloupe, Martinique, Guyane, La Réunion, and Mayotte. Due to the different 
situation  of  the  labour  market  in  these  regions,  breaks  in  the  time  series  of  the  MIP  indicators 
calculated  on  the  LFS  data  occurred  and  back-calculations  were  needed  in  order  to  ensure  a 
consistent time series. The transition is now complete and all LFS indicators are available for the 
last twelve years according to the extended geographical definition. Therefore, from 2017 all LFS 
indicators, including the change in activity rate and the change in long term unemployment rate, 
refer  to  France  including  its  overseas  departments  and  regions.  The  impact  of  this  change  is 
expected to be limited. As a measure of the impact, the 2015 long term unemployment rate indicator 
released  in  October  2016  was  0.6  pp;  this  value  has  been  revised  to  0.5  as  a  consequence  of  the 
inclusion of the DROM. Analogously the MIP activity rate indicator has been revised from 0.8 pp. 
to 1.00 pp. 

General Government Gross Debt data notified for the years 2013 to 2016 have been released on 
23rd  October  2017  within  the  EDP  notification.  In  the  context  of  the  notification  of  government 
deficit and debt, Eurostat expressed reservations on reported data of France, Belgium and Hungary. 
For more information on reservations and main revisions between the April 2017 and the October 
2017 notifications please see the latest EDP news release. 

11 

 
 
IMPROVING THE QUALITY FRAMEWORK AND ONGOING WORK 

The credibility of the MIP and its smooth implementation depends critically on the availability and 
quality of the MIP underlying statistics. The statistics used in the procedure have to be fit for the 
purpose, reliable and comparable among Member States and in time. For that reason, the scoreboard 
indicators  are  regularly  reviewed;  the  underlying  statistical  methodology  and  the  statistical 
production processes are constantly improved. Statistics underlying the MIP indicators are based on 
European Union legislation and compiled by the European Statistical System (ESS) and in part by 
the European System of Central Banks (ESCB). 
In 2016, the Economic and Financial Affairs Council (ECOFIN)1 recalled that the MIP must rely 
upon sound and harmonised official statistics and since 2011 it had emphasised the importance of 
close  cooperation  between  the  ESS  and  the  ESCB  in  assessing  the  reliability  of  the  statistics 
underlying the MIP and improving their quality. Following the invitation of the Council to take all 
necessary initiatives to assure a reliable procedure for the compilation of MIP indicators as well as a 
continuous 
information,  a  Memorandum  of 
Understanding was signed between Eurostat and the Directorate General Statistics of the European 
Central  Bank  in  November  2016.  The  Memorandum  of  understanding  mutually  recognises  the 
respective quality assurance frameworks and enables an even closer cooperation on the respective 
quality reports in the field of BoP/IIP and Financial Accounts. 

the  underlying  statistical 

improvement  of 

The  quality  assurance  framework,  developed  jointly  by  Eurostat  and  the  Directorate  General 
Statistics of the European Central Bank, follows a three-level structure. In this framework, the work 
performed in 2017 consisted of the following actions: 

  Level  1:  preparation  of  an  annual  ESS-ESCB  quality  assessment  report  on  MIP  statistics  by 
Eurostat  and  the  ECB  towards  the  European  Parliament  and  Council,  policy  makers  and  the 
public at large. It aims at assessing the reliability and comparability of MIP underlying statistics 
and  at  addressing  actions  to  address  most  relevant  quality  issues;  the  third  report  has  been 
prepared in 2017 and will be published on the CMFB website. 

  Level  2:  domain-specific  quality  reports  produced  by  Eurostat  and  the  ECB  summarising  the 
main findings for the euro area or the European Union Member States. These reports assess the 
underlying compilation process and its robustness, describe its legal basis and evaluate whether 
the statistics are in line with international statistical standards. The coverage of level 2 reports 
has been significantly improved in 2017; the following level 2 reports are currently available: 

  Balance of Payments and International Investment Position statistics (ECB, Eurostat) 

  Financial Accounts (ECB) 

  Housing Price Indicators (Eurostat) 

  Labour Force Survey (Eurostat) 

towards  harmonization  of 

Work 
the  existing  Quality  Reports  on  Balance  of 
Payment/International  Investment  Position  produced  by  the  ESS  and  the  ESCB  taking  into 
account MIP requirements is ongoing. In the area of National Accounts,  after the adoption of 
an implementing act2, an annual quality reporting by Member States started in 2017 and will 
progressively be extended by 2021; it also covers data underlying the MIP indicators. 

1 Council conclusions of ECOFIN Council meeting on 8 November 2016 
(http://data.consilium.europa.eu/doc/document/ST-14164-2016-INIT/en/pdf)  
2 http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv%3AOJ.L_.2016.345.01.0027.01.ENG 

12 

 
 
 
                                                            
In  addition,  the  Commission  (DG  ECFIN),  in  its  capacity  as  compiler  of  the  Real  Effective 
Exchange Rate (REER) indicator, publishes quality information on real effective exchange rate 
indicators on its website3. 

  Level 3: development of condensed country specific self-assessment reports on the quality and 
statistical processes for statistics underlying the MIP indicators which are easily understandable 
by  users.  They  should  provide  the  basis  for  assuring  the  quality  of  the  statistics  and  their 
comparability across countries. Member States are encouraged to publish such reports. In 2016 
information  for  the  statistical  domains  Balance  of  Payments  and  International  Investment 
Position,  Financial  Accounts,  Housing  Price  statistics  and  the  Labour  Force  Survey  were 
prepared for almost  all countries. Updated versions of these national reports are being  drafted 
and they will be published on the CMFB website when available.  

Moreover,  in  the  context  of  the  Memorandum  of  Understanding,  joint  ECB-Eurostat  visits  are 
planned  to  the  Member  States.  The  focus  will  be  on  BoP  and  Financial  Accounts.  The  first  joint 
visits are envisaged to take place during the fourth quarter of 2017. 

Commission Implementing Regulation (EU) 2016/2304 of 19 December 2016 on the modalities, structure, periodicity 
and assessment indicators of the quality reports on data transmitted pursuant to Regulation (EU) No 549/2013 of the 
European Parliament and of the Council, OJ L 345, 20.12.2016, p. 27-36. 
3 https://ec.europa.eu/info/sites/info/files/file_import/quality_report_en_1.pdf  

13 

 
 
 
 
                                                                                                                                                                                                     
 
 
Chapter 1: Tables by year - Headline indicators  

Table 1.1: MIP Scoreboard 2016 

14 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE-0.3 51.2 -0.4 -2.3 -0.6 1.0p13.3 190.1 105.7 8.3 1.2 0.1 0.1 -3.6 BG1.8 -47.0 -4.7 8.2 9.5p7.1p4.0 104.9 29.0 9.4 11.1 0.3 -2.9 -11.2 CZ0.5 -24.6 -3.7 2.9 2.9 6.7p4.4 68.7 36.8 5.1 14.5 2.1 -1.3 -8.4 DK8.4 54.8 -1.5 -4.2 3.4 4.2 -10.4 210.7 37.7 6.3 3.3 1.9b-0.4b-1.0 DE8.1 54.4 -2.6 2.8 5.2 5.4 3.8 99.3 68.1 4.6 5.2 0.3 -0.6 -0.7 EE1.4 -37.1 4.5 -0.7 13.4 3.8 5.9 115.4 9.4 6.8 7.2 2.4 -1.7 -5.3 IE5.5 -176.2 -6.6 59.8 -20.5 6.6p-19.0 278.1 72.8 9.5 2.5 0.7 -3.6 -9.6 EL-1.0 -139.4 -3.9 -19.0 -3.3p-2.0e-1.7p124.7p180.8 25.0 -16.6 0.7 -1.5 -11.0 ES1.4 -83.9 -4.3 2.2 0.4p4.7 -1.0p146.7p99.0 22.1 0.9 -0.1 -3.5 -11.1 FR-0.7 -15.7 -3.1 -2.4 1.4p1.0 6.2p146.9p96.5 10.3 4.3 0.7 0.2 -0.3 HR2.9 -70.1 0.1 8.1 -5.9d2.1 -0.1e106.1e82.9 15.6 2.5 1.9 -4.4 -18.1 IT2.1 -9.8 -3.4 -2.8 1.9 -0.8p0.6 113.6 132.0 12.1 3.2 1.5 -0.2 -2.2 CY-3.6 -127.8 -6.5 -3.0 -6.2p1.6 10.2p344.6p107.1 14.7 0.7 -0.2 -0.3 -9.8 LV-0.3 -58.9 4.9 9.3 16.5 7.4 0.3 88.3 40.6 10.1 5.8 2.3 -1.7 -5.9 LT-0.3 -43.2 5.4 5.4 14.7 4.5 4.3 56.2 40.1 9.2 16.3 3.1 -2.1 -7.4 LU5.0 34.7 -1.5 26.2 2.5 5.9 1.5 343.6 20.8 6.3 7.5 0.1 0.4 2.2 HU3.6 -65.0 -5.0 -0.4 3.3 13.6 -3.6 77.0 73.9 6.5 19.5 5.4 -2.5 -13.7 MT6.7 47.6 -2.5 8.7 -0.1 4.8p11.1 128.4 57.6 5.3 1.7 4.1 -1.0 -2.0 NL8.8 69.1 -2.3 0.1 -1.1p4.4 1.5p221.5p61.8 6.8 5.3p0.3 0.0 -2.4 AT2.2 5.6 1.0 -4.0 5.8 7.2 3.2 124.0 83.6 5.8 -2.4 0.7 0.6 1.5 PL-1.0 -60.7 -5.0 18.1 2.1p2.5 4.7 81.6 54.1 7.6 8.9 1.8 -2.2 -9.6 PT0.3 -104.7 -1.9 5.8 0.9p6.1 -2.2p171.4p130.1 12.6 -0.2 0.7 -3.1 -9.9 RO-1.3 -49.9 -2.5 23.6 6.0p6.5 0.6p55.8p37.6 6.5 7.6 0.7 -0.2 -3.1 SI5.1 -36.9 -0.5 4.0 0.7 3.6 -0.8 80.5 78.5 8.9 3.2 1.1 -0.9 -6.4 SK-0.7 -62.4 -1.6 7.3 3.5 7.0 9.2 94.7 51.8 11.5 8.5 2.0 -4.2 -11.5 FI-1.2 -2.3 0.5 -14.1 2.1 -0.3 2.2 149.3 63.1 9.0 4.5 0.7 0.6 0.2 SE4.6 11.2 -9.2 -7.9 2.0 7.6 7.6 188.5 42.2 7.4 9.0 1.0 -0.1 -4.7 UK-5.5 -1.1 0.2 -0.1 3.1 5.5 8.2 168.1 88.3 5.4 11.6 0.9 -1.4 -7.7 Year2016External imbalances and competitivenessFlags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=sourceNCBforEL.3)ForNULCHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.4)Privatesectordebt,privatesectorcreditflow:thedeclineforIErelativeto2015predominantlyreflectsrestructuringandre-domicilingactivities of large multinational companies.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Internal imbalancesEmployment indicators 
 
 
 
 
 
 
 
 
Table 1.2: MIP Scoreboard 2015 

15 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE-0.4 47.2 -1.6 -11.9 1.5 1.4p12.2 178.9 106.0 8.5 2.7 0.7 1.0 2.3 BG0.4 -61.2 -4.2 12.2 14.9p1.6bp-0.3 110.5 26.0 11.2 6.2 2.2 -1.2 -6.5 CZ0.0 -32.9 -8.1 -1.8 0.1 3.8p0.3 68.1 40.0 6.1 8.1 2.4 -0.6 -6.9 DK8.5 34.3 -1.6 -8.2 2.6 6.3 -6.2 207.6 39.5 6.6 -1.0 -0.1 -0.4 -3.3 DE7.6 48.6 -2.1 -2.5 5.6 4.1 3.0 98.7 70.9 4.9 2.9 0.4 -0.4 -0.8 EE0.9 -39.8 5.9 7.9 13.5 7.1 3.0 115.2 10.0 7.4 8.7 1.9 -3.1 -7.8 IE4.9 -195.1 -6.3 41.0 -19.5 11.0p-3.1 306.5 76.9 11.3 9.7 0.8 -3.7 -9.5 EL-1.3 -136.3 -5.6 -20.7 -9.8p-3.5e-3.3p126.1p176.8 26.3 15.6 0.3 3.7 -5.5 ES1.2 -89.7 -3.1 -3.8 0.5p3.7 -1.8p154.6p99.4 24.2 -1.3 0.0 0.4 -4.6 FR-0.7 -15.7 -2.8 -5.6 2.2p-1.8 4.9p143.7p95.8 10.3 1.7 1.0 0.5 0.3 HR2.5 -76.5 0.2 -5.8 -6.1d-2.4 -1.4 113.2 85.4 16.9 2.1 3.0 0.0 0.1 IT1.5 -19.7 -2.4 -8.9 1.6 -2.7p-1.3 115.3 131.5 12.2 1.5 0.5 1.3 5.0 CY-3.6 -145.0 -6.1 -11.9 -10.6 0.3bp4.1 353.5 107.5 15.7 11.1 0.4 3.2 5.1 LV-1.6 -63.8 2.7 12.9 17.5 -2.4 0.7 88.8 36.9 10.9 12.2 1.3 -3.3 -12.2 LT0.4 -43.9 4.3 15.3 11.7 4.6 1.9 54.7 42.6 10.5 7.0 2.3 -2.7 -10.4 LU5.2 37.7 -0.5 24.3 2.3 5.3 47.0 348.6 22.0 6.1 12.2 1.5b0.3b-1.4 HU2.9 -67.8 -7.1 -7.8 -0.2 13.3 -2.6 84.3 74.7 8.2 0.6 4.9 -1.9 -10.9 MT5.3 52.2 -2.7 -2.0 0.1 5.1 2.8 125.8 60.3 5.9 1.3 4.5 -0.7 -2.3 NL9.0 55.1 -0.8 -6.4 -0.4p3.4 -0.8p225.1 64.6 7.2 3.6 0.6 1.1 -0.4 AT2.1 2.5 1.5 -9.0 6.2 3.4 2.3 123.9 84.3 5.6 -0.1 0.4 0.5 1.2 PL-1.3 -62.1 -1.3 9.6 0.3 2.6 3.5 78.9 51.1 8.9 2.4 1.6 -1.1 -5.7 PT0.6 -112.0 -3.0 2.5 0.5 2.1 -1.8 179.7 128.8 14.4 -1.8 0.0 -0.5 -6.0 RO-1.0 -54.6 2.7 20.9 0.3 1.9 0.2 59.1 37.9 6.9 4.0 1.3 0.0 -0.9 SI4.9 -39.8 0.4 -4.2 -0.4 1.4 -5.0 86.9 82.6 9.6 -3.7 1.4 0.4 -4.3 SK0.4 -64.6 -1.1 4.5 2.4 5.5 7.7 88.1 52.3 13.0 10.8 1.5 -1.8 -7.5 FI-1.3 -6.1 2.2 -21.1 3.9 -0.3 6.9 152.9 63.6 8.8 1.2 0.6 0.7 3.4 SE4.9 4.6 -8.2 -9.1 2.4 12.1 7.5 188.4 44.2 7.8 2.4 1.4 0.0 -3.3 UK-5.4 -18.4 10.8 2.2 2.2 5.3 3.5 164.7 88.2 6.3 -8.8 0.8 -1.1 -6.6 Employment indicatorsFlags:b:Break in series. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)ForNULCHR,d:employment data use national concept instead of domestic concept. 5) Private sector debt, private sector credit flow: significant increases for IE due to re-domiciling of large multinational corporations and movement of large parts of their balance sheets. (cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Year2015External imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
Table 1.3: MIP Scoreboard 2014 

16 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE-0.4 45.1 -0.6 -13.0 5.5 -1.3 -1.9 166.0 106.8 8.2 2.7 1.0 0.8 4.5 BG0.2 -75.2 -2.8 5.9 18.0p1.5p-1.1 123.6 27.0 12.2 5.6 3.1b0.6 -1.2 CZ-0.6 -36.6 -10.0 -5.8 4.0 1.8 1.7 71.5 42.2 6.7 5.2 3.0b0.0 -2.2 DK7.7 43.4 -1.2 -15.5 2.4 2.9 0.0 214.7 44.0 7.0 7.3 -1.2 -0.1 -1.6 DE7.1 40.9 -0.4 -8.6 7.0 2.2 0.5 99.4 74.6 5.2 4.5 0.4b-0.6 -0.8 EE-0.4 -46.9 4.8 20.4 14.0 13.0 5.7 118.0 10.7 8.7 13.1 0.5 -3.8 -7.4 IE0.4 -161.0 -3.6 -12.1 -3.7 15.1p2.5 279.4 104.5 13.0 19.5 0.6 -2.0 -5.2 EL-2.5 -131.9 -5.6 -18.1 -10.4p-5.0e-2.7p128.0p179.0 26.2 -8.4 0.1 10.7 7.7 ES0.8 -97.8 -1.0 -11.9 -3.4 0.1 -7.0 165.5 100.4 25.1 -0.4 0.3 4.0 7.0 FR-1.1 -15.6 -1.3 -14.2 4.6 -1.7 3.3 141.9 95.0 10.1 5.3 1.4 0.5 1.5 HR0.9 -85.4 -0.9 -19.9 -6.4d-1.1 0.1 118.1 85.8 16.8 0.2 2.0 1.7 8.3 IT0.9 -21.2 0.2 -14.9 2.3 -4.6p-0.5 119.0 131.8 11.8 0.5 1.8 3.4 13.5 CY-5.1 -147.0 -1.7 -23.8 -7.6 -1.3p-0.3 352.5 107.5 14.6 -3.7 0.8 6.1 13.6 LV-2.7 -65.9 0.4 11.5 16.1 4.3 -11.8 96.0 40.9 12.6 10.4 1.8 -4.2 -11.4 LT0.9 -45.1 1.7 34.2 8.7 6.3 0.3 53.9 40.5 12.0 16.2 2.3 -3.2 -13.3 LU5.4 31.9 0.5 11.8 4.2 3.9 24.7 313.0 22.7 5.7 33.1 2.9 0.2 5.9 HU2.3 -80.3 -6.8 -16.3 5.9 3.3 -0.1 91.2 75.2 9.6 8.6 4.6 -1.5 -5.6 MT4.4 43.3 0.1 -12.1 3.4 2.5 3.9 135.9 63.8 6.2 6.4 4.5 -0.3 -1.6 NL9.6 48.7 0.7 -11.0 4.2 0.0 -1.8 225.7 68.0 6.8 7.7 0.9b1.3 2.7 AT2.0 3.4 1.9 -15.4 7.8 1.4 0.9 124.9 83.8 5.3 -0.8 0.8 0.3 1.4 PL-2.4 -69.1 -1.0 5.2 2.9 1.2 4.6 78.1 50.2 9.8 0.7 2.2 0.2 -1.9 PT0.0 -117.5 -1.8 -5.7 -2.7 3.9 -5.0 190.8 130.6 15.4 -7.5 -0.4b2.2 4.5 RO-2.2 -57.3 -1.0 20.7 7.3 -3.2 -2.4 62.1 39.4 6.9 1.3 1.6 -0.1 0.1 SI4.1 -45.8 1.2 -12.5 0.0 -6.5 -4.7 97.4 80.3 9.6 -0.2 0.6 1.7 4.5 SK1.3 -63.6 1.2 2.3 1.8 1.5 5.1 87.8 53.5 13.8 8.7 1.6b0.1 -4.0 FI-1.6 -3.2 2.7 -26.1 7.8 -1.6 1.5 149.6 60.2 8.2 8.9 0.5 0.2 0.4 SE5.2 1.2 -3.7 -9.2 6.9 8.3 4.8 193.9 45.5 8.0 13.0 1.6 -0.1 0.1 UK-5.0 -22.3 10.1 -8.9 3.1 6.0 6.8 166.8 87.4 7.2 4.7 1.2 -0.5 -4.3 Internal imbalancesEmployment indicatorsYear2014External imbalances and competitivenessFlags:b:Break in series. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)Privatesectordebt,private sector credit flow: due to improved sources and methods, there are significant revisions in the time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014. 5) For NULC HR, d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
Table 1.4: MIP Scoreboard 2013 

17 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE-0.5 51.9 -0.2 -12.7 8.3 0.4 7.4 165.4 105.5 7.7 0.9 -0.2 -0.1 1.3 BG0.3 -73.3 -0.9 0.3 15.6p0.4p7.2 131.9 17.0 12.2 4.3 1.7b2.7 6.5 CZ-1.4 -41.4 -3.0 -9.4 4.2 -0.8 4.4 73.7 44.9 6.9 11.4 2.7 0.0 0.6 DK6.9 37.2 -2.5 -17.5 1.5 3.1 -3.1 216.1 44.0 7.4 1.8 -1.3 0.3 -0.9 DE6.6 34.5 -1.8 -12.1 5.9 2.1 2.0 102.9 77.4 5.5 -6.2 0.9b-1.0 -2.0 EE0.0 -50.1 3.1 10.2 9.1 7.5 3.5 115.9 10.2 10.3 10.4 1.2 -3.8 -14.2 IE-1.0 -131.6 -3.8 -7.8 -1.9 -0.5p-1.4 267.1 119.4 14.2 0.3 0.4 1.0 -0.8 EL-5.3 -130.4 -4.4 -25.4 -10.0p-9.2e-6.4p129.1p177.4 23.3 -17.2 -0.3 12.8 25.3 ES-0.6 -95.2 -0.3 -10.8 -4.1 -10.0 -10.3 176.9 95.5 24.1 -10.9 0.8 5.7 14.0 FR-1.0 -16.6 -2.2 -14.6 4.6 -2.6 2.1 137.7 92.4 9.8 0.4 0.9 0.5e1.6 HR0.0 -88.5 -3.9 -23.0 -3.9d-5.8 -0.6 117.9 81.7 15.6 3.2 -1.4 4.4 17.6 IT-0.8 -22.7 0.1 -19.9 2.9 -6.9p-3.0 121.6 129.0 10.4 -2.6 1.4 2.9 12.1 CY-5.0 -138.7 -0.8 -14.9 -2.1 -4.1p-13.3 340.1 102.6 11.9 -15.3 0.0 4.8 22.3 LV-3.2 -66.3 -1.6 6.3 7.9 6.5 0.9 92.4 39.0 14.4 5.2 1.0 -3.1 -13.0 LT-1.7 -47.0 -0.6 19.8 6.2 0.2 -1.3 56.3 38.8 13.5 -1.4 2.2 -2.3 -13.8 LU5.7 51.5 0.8 3.9 7.6 3.3 27.3 305.0 23.7 5.3 10.4 1.7 0.5 1.1 HU2.1 -83.1 -3.8 -22.5 6.2 -4.3 -0.9 95.1 76.0 10.7 -1.2 2.8 -0.6 0.2 MT1.4 27.0 -1.2 -0.2 9.8 -1.6 2.7 143.9 68.4 6.4 1.6 4.6 -0.2 -0.2 NL9.6 31.0 0.5 -11.0 5.2 -8.2 1.5 223.4 67.8 6.0 -1.1 1.2b1.3 2.1 AT1.7 1.3 0.7 -18.1 6.4 3.0 1.0 127.1 81.0 5.0 -3.2 1.1 0.1 0.2 PL-3.4 -68.9 -4.3 0.2 3.1 -4.8 3.3 75.4 55.7 10.0 7.4 1.7b1.4 3.6 PT-2.1 -116.3 -0.6 -7.1 -3.4 -2.7 -1.6 202.4 129.0 15.0 -5.4 -0.7 3.6 9.9 RO-3.6 -62.6 0.4 14.2 -3.2 -2.8 -1.4 66.6 37.8 7.0 0.8 0.0b0.8 1.6 SI2.2 -47.2 -0.6 -18.0 0.5 -7.2 -4.0 107.2 70.4 9.1 -10.3 -1.0 2.0 6.9 SK-0.7 -62.3 2.1 -3.7 2.2 -0.4 5.2 82.9 54.7 14.0i1.7 1.2 0.8 -0.2 FI-1.8 3.9 0.2 -31.0 9.1 -1.3 2.8 147.7 56.5 7.9 -11.7 0.7 -0.3 -1.5 SE5.5 -12.5 5.1 -16.9 8.6 4.7 4.5 194.5 40.8 7.9 9.0 2.0 -0.2 -1.2 UK-4.1 -18.5 3.4 -12.0 3.4 0.3 6.9 173.7 85.6 7.8 -7.7 1.0 0.2 0.8 Flags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)UnemploymentrateforSK,i=Eurostatback-calculationtoinclude2011PopulationCensus.5)Privatesectordebt,privatesectorcreditflow:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseriesforLU.Themainimpactisadownwardrevisioninlevelsofprivatesectordebtforyears2007to2014.6)ForNULCHR,d:employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Year2013External imbalances and competitivenessInternal imbalancesEmployment indicators 
 
 
 
 
 
 
Table 1.5: MIP Scoreboard 2012 

18 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE0.2 51.8 -4.3 -15.2 5.4 0.3 15.3 185.5 104.3 7.7 -5.2 0.0 -0.1 -2.1 BG-0.7 -77.9 -4.0 -0.6 12.2p-5.3p3.0 125.0 16.7 11.3i10.2 -0.1 3.8 13.0 CZ-2.4 -45.9 0.5 -4.0 3.8 -3.6 2.9 70.7 44.5 7.0 5.2 1.5 1.0 2.9 DK6.5 36.1 -7.8 -17.4 -0.1 -4.9 7.9 224.0 44.9 7.5 2.5 -1.6 1.5 2.3 DE6.2 28.5 -9.0 -16.2 2.7 1.9 1.3 101.8 79.8 6.1 3.3 0.9 -1.1 -3.1 EE0.4 -51.1 -3.6 7.3 0.0 3.2 6.8 117.8 9.7 13.0 10.4 0.8 1.8 -6.5 IE-2.3 -137.4 -12.2 -15.9 -11.8 -14.8p-0.6 279.1 119.6 14.4 -1.8 -1.4b5.5 6.4 EL-8.4 -115.9 -5.0 -24.9 -2.3p-12.0e-5.9p131.5p159.6 18.4 -2.6 0.1b10.6 29.6 ES-2.4 -89.9 -5.3 -17.9 -5.1 -16.8 -11.2 187.8 85.7 22.0 2.9 1.2 6.7 15.2 FR-1.0 -12.8 -7.8 -18.3 4.3 -1.9 4.4 138.5 89.6 9.4 1.2 0.5 0.8e0.8 HR-0.7 -90.6 -8.4 -23.8 -1.6d-4.6 -3.0 120.0 70.6 13.8 1.0 -1.7 5.1 16.8 IT-2.2 -22.2 -6.2 -25.3 2.1 -5.4p-0.8 125.1 123.4 9.2 7.3 1.2 2.2 10.0 CY-7.1 -129.1 -5.9 -21.7e3.2 -5.3p16.5 328.1 79.7 8.7 6.3 0.5b3.0 13.9 LV-1.6 -67.2 -8.6 8.4 -6.9 -0.4 -2.1 97.9 41.2 16.9 5.2 0.9 3.3 -4.8 LT-2.4 -53.4 -6.7 32.9 -4.2 -3.2 0.3 61.1 39.8 15.5 -1.0 2.2 3.3 -2.9 LU6.1 49.5 -2.4 -9.8 5.9 2.2 24.7 295.5 22.0 4.8 13.2 0.7b0.4 1.5 HU0.9 -93.6 -0.8 -21.0 5.0 -9.2 -6.1 101.6 77.6 11.1 -5.8 2.5 0.8 1.8 MT-1.1 19.6 -7.6 12.7 8.7 0.7 -0.7 153.3 67.8 6.5 6.1 3.7 0.2 -0.4 NL8.7 27.0 -6.0 -12.4 2.3 -8.1 2.0 225.9 66.3 5.3 5.0 -0.7 1.1 1.5 AT2.0 -3.2 -4.7 -21.4 3.8 4.9 1.2 128.2 81.7 4.8 0.4 0.8 0.0 -1.3 PL-4.8 -65.3 1.4 1.9 5.3 -6.6 4.8 73.4 53.7 9.8 10.7 1.8 1.6 5.9 PT-6.0 -116.5 -4.0 -16.3 -6.3 -8.8 -3.9 210.3 126.2 13.6 -3.0 0.0 3.5 12.7 RO-4.9 -67.4 -2.0 12.8 -0.2b-9.2 0.3 71.9 37.3 7.0 4.4 1.7 0.8 2.6 SI0.7 -50.1 -4.5 -20.6 0.6 -8.5 -2.9 112.3 53.8 8.1 -0.7 -1.4 2.5 7.0 SK-2.9 -61.4 -3.2 -9.9 0.8 -6.0 3.4 77.9 52.2 14.1i0.7 1.0 2.9 6.4 FI-0.8 11.7 -8.3 -31.0 6.0 -0.4 7.4 148.6 53.9 8.0 -1.1 0.2 0.2 -2.5 SE5.7 -14.6 10.2 -19.1 4.0 0.7 2.4 192.3 38.1 8.1 5.4 1.4 0.4 -1.3 UK-3.5 -29.0 5.9 -20.9 3.2 -1.7 1.8 179.6 84.5 7.9 -3.6 0.4 0.8 2.1 Internal imbalancesEmployment indicatorsYear2012External imbalances and competitivenessFlags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)Unemploymentrate:BGandSKi=Eurostatback-calculationtoinclude2011PopulationCensusresults.5)Privatesectordebt,privatesectorcreditflow:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseriesforLU.Themainimpactisadownwardrevisioninlevelsofprivatesectordebtforyears2007to2014.6)ForNULCHR, d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
Table 1.6: MIP Scoreboard 2011 

19 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE-0.1 60.9 -1.6 -7.5 5.3 1.0 21.8 177.0 102.6 7.8 5.4 -0.4 0.2 0.7 BG-3.2 -82.8 1.9 11.3 17.7 -8.7p1.4 124.2 15.2 9.5i5.4 -1.9b3.4b13.1 CZ-2.6 -45.2 -0.5 7.6 3.4 -1.7 2.1 68.3 39.8 6.9 4.3 0.8b0.5b8.2 DK5.5 27.8 -2.6 -13.6 3.6 -4.0 4.4 221.0 46.1 7.0 1.6 -1.4 1.3 6.2 DE5.8 23.2 -4.8 -9.0 5.7 1.4 1.6 102.5 78.6 6.8 2.9 1.4b-1.1b-1.9 EE1.9 -54.8 -0.8 24.5 -2.6 2.7 -1.1 120.4 6.1 14.2 -0.6 0.5 5.4 10.4 IE-3.3 -139.2 -9.6 -10.1 -15.4b-17.8p16.3 272.7 110.3 13.5 -2.2 -2.9 6.9 15.8 EL-11.2 -88.8 1.8 -15.7 6.8p-7.5e-6.5p130.2p172.1 13.4 -3.7 0.6 5.1 22.8 ES-3.8 -91.9 -2.5 -8.4 -1.0 -9.8 -3.7 196.2 69.5 19.7 3.0 1.2 6.9 21.7 FR-0.9 -8.7 -4.4 -15.3 5.5 4.0 6.4 135.3 85.2 9.2 6.7 0.3 1.1e3.7 HR-2.4 -91.5 -4.7 -16.0 6.3d-2.1 -2.3 122.8 65.0 11.6 2.6 -1.7 3.1 13.0 IT-2.8 -18.3 -3.2 -19.2 5.3 -2.1p3.1 122.7 116.5 8.2 5.0 -0.8 1.3 8.0 CY-7.7 -129.9 -3.0 -11.4e9.4 -4.5p13.0 321.6 65.7 6.5 -6.1 -0.1 1.1 13.4 LV2.2 -74.4 -2.4 26.8 -21.0 4.1 -2.0 115.3 42.7 17.7 -4.1 -1.4 6.9 17.4 LT-1.5 -52.5 1.7 29.7 -7.8 2.4 -2.2 64.7 37.2 15.7 2.5 3.0 6.7 19.3 LU6.6 28.9 0.1 -3.7 8.8 0.5 20.0 277.0 18.7 4.8 11.0 1.1 -0.2 -0.9 HU0.1 -105.7 -4.2 -2.2 4.3 -6.9 -4.4 114.4 79.9 10.7 6.3 1.2 1.6 6.5 MT-3.8 6.3 -5.0 17.8 11.0 -3.4 5.4 159.8 70.1 6.7 11.0 2.7 0.4 1.6 NL7.1 20.4 -2.4 -8.2 4.8 -4.0 4.2 225.0 61.6 4.8 9.0 -1.2b0.7b1.4 AT2.4 -1.9 -1.8 -12.3 5.8 2.9 3.0 129.4 82.2 4.9 1.5 0.7 0.2 0.4 PL-4.8 -62.4 -11.5 15.3 4.2 -4.6 6.7 73.9 54.1 9.2i4.8 1.9 1.2 8.6 PT-8.9 -100.7 -3.0 -8.5 -0.6 -6.4 -0.9 204.1 111.4 11.9 -4.5 -0.3b2.6b8.6 RO-4.9 -65.4 -3.2 50.2 -0.5 -15.8 2.8 72.9 34.4 6.9 4.6 1.2 0.5 6.3 SI-0.2 -45.2 -1.1 -5.7 8.3 0.9 0.4 113.0 46.6 7.1 -1.2 -1.5 1.7 5.3 SK-4.4 -64.4 3.4 -2.6 6.1 -5.2 3.0 70.2 43.7 13.4i0.3 -0.1b2.6b14.4iFI0.5 15.1 -2.8 -23.6 9.4 0.0 3.6 145.4 48.5 8.1 28.7 -1.1 0.5 3.6 SE5.8 -8.0 3.2 -12.1 5.6 0.8 6.9 190.8 37.9 8.2 3.0 0.6 0.7 2.6 UK-3.4 -11.7 -8.0 -25.7 7.1 -5.0 1.7 179.6 81.3 7.8 10.4 -0.3b1.3 6.3 Year2011External imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)Unemploymentrate:BG,PL,andSKi=Eurostatback-calculationtoinclude2011PopulationCensusresults.5)Youthunemploymentrate:SKi=Eurostatback-calculationtoinclude2011PopulationCensusresults.6)Privatesectordebt,privatesectorcreditflow:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseriesforLU.The main impact is a downward revision in levels of private sector debt for years 2007 to 2014. 7) For NULC HR, d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
Table 1.7: MIP Scoreboard 2010 

20 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE-0.1 65.2 0.5 -11.3 7.3 1.4 1.4 164.4 99.7 7.7 -1.4 0.6 0.2 3.6 BG-10.7 -91.9 9.7 8.1 29.5 -12.3p3.7 132.5 15.3 7.6i-5.4 0.4b0.6b7.8iCZ-2.6 -46.0 12.1 11.8 6.4 -2.2 2.6 67.9 37.4 6.1 3.2 0.3 0.2 7.6 DK4.3 12.8 0.1 -10.5 9.5 0.3 -2.9 220.6 42.6 5.6 9.7 -0.7 0.9 6.4 DE5.7 25.6 -3.8 -7.7 7.5 -0.8 0.0 106.7 80.9 7.3 -1.1 1.1b-1.6b-2.0 EE-1.5 -71.2 4.6 9.5 13.8 2.1 -7.6 140.4 6.6 11.9i-8.9 0.7 5.3 22.8 IE-4.8 -114.6 -5.4 -6.2 -6.7 -11.3p2.2 257.2 86.1 10.8 6.3 -3.2b5.4 18.5 EL-12.9 -99.0 2.8 -14.2 14.0 -8.1e5.5 128.1 146.2 10.0 8.3 1.3 1.5 10.3 ES-5.8 -88.6 -0.3 -11.6 5.7 -3.6 0.9 200.3 60.1 16.4 -1.8 1.7 5.6 23.4 FR-0.9 -9.3 -2.3 -17.4 7.5 3.6 4.6 131.8 81.6 8.6 3.3 0.5 0.6e3.8 HR-5.2 -94.0 1.8 -13.1 11.8d-7.7 4.9 125.3 58.2 9.9 3.1 -0.6 0.6 6.9 IT-2.7 -20.2 -2.0 -18.9 8.9 -2.2be5.0 123.3 115.4 7.6 4.2 -0.4 1.1 7.5 CY-11.5 -111.2 -0.1 -15.8e10.6 -7.7p15.1 315.6 56.3 5.1 8.4 -0.3 0.6 6.4 LV-0.8 -82.9 6.7 21.8 -2.2 -8.7 2.5 134.0 46.8 14.9 -0.3 0.4 7.2 25.6 LT-4.5 -55.9 7.2 19.1 0.3 -8.6 -5.9 74.5 36.2 12.5 0.3 2.3 6.0 27.3 LU7.1 -20.4 1.2 3.4 16.0 4.2 -23.6 277.9 19.8 4.9 11.6 1.3b0.1 0.2 HU-2.5 -108.3 -1.3 3.5 6.9 -5.9 -4.2 114.9 79.7 9.7i-0.3 0.3 2.0 8.3 MT-4.1 12.1 -0.8 38.0 9.2 -1.1 7.5 162.4 67.5 6.6 12.4 1.6 0.4 -0.3 NL5.9 11.2 -1.6 -8.1 7.6 -2.7 1.7 225.8 59.3 4.4 5.9 -0.3b0.0b1.7 AT3.3 -5.2 -2.1 -12.5 9.0 4.4be0.3 132.3 82.4 4.7 -1.9 0.9b-0.1 0.1 PL-5.3 -65.1 -1.3 24.8 11.3b-6.0e4.3 69.7 53.1 8.3i13.6 2.1b-1.9b2.1 PT-10.9 -104.3 -3.1 -6.8 4.2 -1.0 5.3 201.5 96.2 10.5 11.5 -0.2 1.9 6.8 RO-7.2 -63.4 -10.9 53.5 28.8 -13.9 0.9 73.9 30.2 6.4 5.0 1.9b-0.8b2.8 SI-2.0 -47.2 1.2 -1.5 16.1 -1.2 1.9 115.1 38.4 5.9 -3.4 0.2 1.0 4.6 SK-4.9 -61.9 11.0 4.0 9.5 -4.9 2.9 67.4 41.2 12.1 1.6 0.4 0.9 13.3 FI1.8 16.5 -1.3 -19.4 13.2 4.8 7.3 148.9 47.1 7.7 19.8 -1.1 0.5 4.9 SE6.6 -5.6 -3.3 -12.7 8.3 6.4 5.3 189.1 38.6 7.7 2.7 0.0 0.8 5.6 UK-4.1 -7.9 -20.5 -23.6 8.9 4.0 -0.6 185.1 75.6 7.0 7.3 -0.1b1.2 5.6 Internal imbalancesEmployment indicatorsYear2010External imbalances and competitivenessFlags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforPL;e=sourceNCBforEL,IT,andAT.4)UnemploymentrateforBG,EE,HU,andPLi=Eurostatback-calculationtoinclude2011PopulationCensusresults.5)YouthunemploymentrateforBG,i=Eurostatback-calculationtoinclude2011PopulationCensusresults.6)Privatesectordebt,privatesectorcreditflow:duetoimprovedsourcesandmethods,therearesignificant revisions in the time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014. 7) For NULC HR, d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
Table 1.8: MIP Scoreboard 2009 

21 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE0.0 57.5 3.9 -9.0 10.0 -0.1 8.9 168.9 99.5 7.5 0.8 0.4 -0.7 1.4 BG-18.1 -49.7 18.3 19.2 34.6 -21.0p4.7 133.8 13.7 6.4 1.3 2.7 -2.0 -3.2 CZ-2.9 -43.9 13.6 27.2 9.0 -4.7 0.5 65.9 33.6 5.5 2.5 -0.2 -1.9 -0.9 DK2.6 0.9 5.5 -1.1 16.4 -13.0 -1.9 232.2 40.2 4.4 5.6 -0.4 -0.2 4.1 DE6.0 25.0 2.9 -6.7 8.1 1.3 -0.9 113.0 72.6 7.8 -6.3 1.4 -2.2 -2.5 EE-7.1 -80.1 13.6 16.3 39.2 -37.0 -6.0 153.2 7.0 7.9i-7.8 1.2 0.8 15.3 IE-6.3 -116.5 5.1 1.9 7.8 -13.2 -4.5 256.1 61.5 7.7 3.4 -1.3b2.1b15.3 EL-14.2 -87.5 4.8 -10.3 15.8 -4.6e2.2 116.5 126.7 8.6 10.1 0.7b-1.0b0.7 ES-7.7 -93.5 4.6 -9.0 11.8 -5.8 -1.2 201.4 52.8 12.5 3.8 2.0 2.5 19.8 FR-0.7 -14.8 2.6 -14.4 8.2 -4.8 3.3 130.5 78.9 8.2 0.1 0.6 -0.5e1.6 HR-7.2 -86.9 5.9 -5.2 16.1d-8.0 2.6 119.1 49.0 9.3 5.0 2.6e-1.3 -3.5 IT-2.0 -22.3 3.6 -17.9 11.1 -0.1e0.8 122.5 112.5 6.8 5.0 -0.3 0.1 3.5 CY-11.7 -100.3 3.6 -9.1e12.4 -6.7 13.3 306.0 53.8 4.3 11.7 0.0b-0.3b3.8 LV-8.4 -82.7 23.5 52.6 37.2 -34.9 -8.6 125.4 35.8 10.4 -9.2 2.5 2.1 19.7 LT-9.2 -58.4 16.7 30.8 13.0 -32.8 -9.4 83.3 28.0 8.0 -4.7 2.0 0.7 19.6 LU8.2 -28.9 3.8 11.9 17.6 -0.6 8.6 326.5 15.7 4.7 6.3 2.0b-0.2b1.0 HU-4.9 -115.0 7.7 12.9 12.6 -9.0 6.0 116.4 77.2 8.4i1.9 -0.8 0.8 7.3 MT-3.2 12.6 5.9 45.8 11.2 -6.2 12.7 168.1 67.6 6.5 4.3 1.5 0.2 -1.0 NL5.8 1.4 2.7 -5.4 12.1 -3.4 8.6 228.8 56.8 4.1 8.2 2.3 -0.9 0.2 AT3.6 -5.0 2.0 -6.1 10.2 3.6e1.3 131.9 79.6 4.8 -2.0 1.9 -0.3 0.9 PL-5.7 -57.3 -4.1 34.4 12.3 -5.4e4.4 67.1 49.4 8.3i9.0 1.3 -5.3 -9.2iPT-10.8 -107.9 1.1 -8.1 6.6 1.0 5.3 204.2 83.6 9.5 8.9 -0.2 0.3 4.1 RO-10.2 -62.0 -4.9 69.4 37.0 -27.1e-1.7 71.9 23.2 6.2 16.0 -0.5 -1.9 -0.2 SI-3.3 -43.6 5.2 9.6 18.5 -10.2 2.9 113.5 34.6 5.1 7.7 0.9 -1.1 -0.3 SK-5.3 -66.5 27.1 9.5 10.9 -12.7 3.0 69.2 36.3 11.0 -4.7 -0.2 -3.7 0.6 FI2.7 3.2 5.0 -12.9 15.2 -0.4p0.8 142.8 41.7 7.2 7.8 -0.2 -0.5 2.8 SE7.3 -7.2 -8.5 -15.9 15.9 0.8 5.9 201.5 41.4 6.9 3.5 0.1 0.1 3.5 UK-4.1 -15.9 -19.9 -20.0 11.1 -9.7 -3.8 192.0 64.1 6.2 -17.0 0.0 0.7 5.2 Year2009External imbalances and competitivenessInternal imbalancesEmployment indicators1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforPLandRO;e=sourceNCBforEL,IT,andAT.4)Privatesectordebt,privatesectorcreditflow:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseriesforLU.Themainimpactisadownwardrevisioninlevelsofprivatesectordebtforyears2007to2014.5)UnemploymentrateforEE,HU,andPLi=Eurostatback-calculationtoinclude 2011 Population Census results.  6) Youth unemployment rate for PL, i = Eurostat back-calculation to include 2011 Population Census results. 7) For NULC HR, d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Flags:b:Break in series. e:Estimated. p:Provisional.  
 
 
 
 
 
 
Table 1.9: MIP Scoreboard 2008 

22 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE1.0 51.8 3.4 -11.0 8.9 1.2 16.5 162.7 92.5 7.6 -4.4 0.4 -1.1 -3.5 BG-21.0 -48.0 18.5 35.6 25.5 17.6p33.3 131.4 13.0 7.2 -0.8 5.7 -3.1 -9.1 CZ-3.0 -38.1 23.2 53.1 6.8 7.7e9.3 63.8 28.3 5.6 6.0 -0.7 -2.0 -9.4 DK2.6 -5.1 2.2 -4.1 13.2 -7.8 18.8 222.3 33.3 3.7i0.0 0.9 -0.6 -0.6 DE6.0 18.1 0.9 -4.5 -0.1 -0.4 0.5 109.7 65.1 8.7 4.6 2.1b-2.0 -5.0 EE-12.9 -75.4 12.6 37.0 48.7 -16.6 10.5 136.7 4.5 5.3i4.3 3.5 -2.7 -3.1iIE-6.3 -95.7 7.3 -16.7 16.8 -8.0 22.0 236.4 42.4 5.2 6.5 1.3 0.3 4.6 EL-13.9 -75.8 2.4 4.8 7.4 -2.5e15.5 113.0 109.4 8.4 4.4 0.3 -1.5 -3.9 ES-9.3 -80.2 5.2 -14.3 13.7 -4.8 11.7 195.7 39.5 9.3 3.8 2.7b-0.2 4.9 FR-0.4 -13.8 1.5 -18.8 6.5 -1.9 9.8 122.2 68.0 8.1 1.9 0.2 -0.8e-2.0 HR-7.6 -73.8 5.6 -5.7 10.1d-2.6e16.1 110.8 39.6 10.0i-8.2 2.5e-1.7 -8.1 IT-1.9 -21.7 1.9 -15.9 8.5 -0.5e6.6 113.9 102.4 6.5 -0.8 0.4 -0.7 -2.9 CY-11.8 -79.1 2.3 -25.3e6.1 0.6 29.8 285.0 45.1 4.1 115.7 1.2 -0.8 -4.9 LV-17.9 -74.2 20.8 76.8 78.3 -10.9 9.1 104.5 18.2 6.9 9.0 5.1 -2.6 -1.5 LT-13.3 -51.5 8.9 43.1e28.8 -1.8 10.3 76.7 14.6 5.3 4.2 -0.3 -3.1u-2.5 LU9.1 16.3 3.4 15.7 12.6 0.2 -5.5 296.1 14.9 4.6i-6.4 0.2 0.4 2.7 HU-7.0 -101.7 7.9 25.3 11.3 -3.1 12.6 105.0 71.0 7.6i26.1 -0.1 0.4 0.1iMT-3.2 4.2 5.9 10.9 9.5 7.1 13.4 153.3 62.6 6.4 13.2 1.5b-0.8 -4.4 NL7.1 -8.1 -0.1 -6.1 6.6 0.0 9.7 216.3 54.7 4.3 3.8 2.4 -1.0 -3.2 AT3.9 -10.0 -0.1 -4.5 6.3 -1.1e5.4 126.7 68.4 4.8 10.9 2.5 -0.4 -2.5 PL-5.7 -55.6 13.9 51.4e10.5 na14.2 67.3 46.3 10.2 6.8 -0.6 -7.9 -19.7 PT-10.8 -95.1 2.1 -11.1 4.5 0.9be15.9 196.2 71.7 8.9 4.4 0.7 -0.1 0.8 RO-12.0 -52.5 9.4 91.9 39.1 na13.1 65.5 13.2 6.4 14.0 0.6 -1.6 -1.5 SI-3.8 -39.4 2.2 16.3 10.6 1.3 15.5 105.6 21.8 5.1 6.6 1.1 -1.2 -5.5 SK-7.3 -58.1 25.0 31.9e6.0 12.9 10.9 64.9 28.5 11.4 10.5 -0.1 -5.1 -11.1 FI3.3 -4.6 -0.3 -4.3 7.5 -2.4p16.7 132.7 32.7 7.0 16.8 1.3 -0.9 -3.6 SE8.1 -7.9 -2.2 -6.8 9.8 -2.0 18.7 189.1 37.8 6.5 12.0 1.1b-0.3 -2.4 UK-3.9 9.7 -11.5 -22.6 10.4 -8.2 12.6 190.7 49.9 5.4 46.9 0.4b0.4 2.2 Flags:b:Break in series. e:Estimated. p:Provisional. u:Low reliability. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforCZ;e=sourceNCBforEL,HR,IT,PTandAT.4)UnemploymentrateforDK,EE,HR,HUandLUi=Eurostatback-calculationtoinclude2011PopulationCensusresults.5)YouthunemploymentrateforEEandHUi=Eurostatback-calculationtoinclude2011PopulationCensusresults.6)Privatesectordebt,privatesectorcreditflow:duetoimprovedsourcesand methods, there are significant revisions in the time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014. 7) For NULC HR, d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Internal imbalancesEmployment indicatorsYear2008External imbalances and competitiveness 
 
 
 
 
 
 
Table 1.10: MIP Scoreboard 2007 

23 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4/6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE2.0 33.6 0.2 -6.7 5.2 4.8 17.0 134.5 87.0 8.1 14.7 1.2 -0.3 -2.4 BG-17.5 -39.4 9.8 45.7 16.7 18.3p41.2 123.4 16.3 8.7 29.3 4.5 -3.1 -10.2 CZ-3.1 -36.4 12.4 58.4 2.5 16.0e9.3 57.4 27.5 6.8 15.5 -0.1 -1.4 -9.7 DK3.0 -5.8 -1.3 -6.0 9.8 0.9 17.1 208.5 27.3 4.2i10.2 0.0 -0.6 -0.7 DE5.7 18.7 -1.5 2.1 -2.9 -3.7 2.1 110.9 63.7 9.9i8.2 3.0e-0.6 -1.9 EE-12.9 -71.3 6.5 53.9 31.8 12.2 12.3 123.0 3.7 6.2 27.9 2.7 -2.9 -13.8 IE-5.1 -31.4 3.0 -12.0 13.1 4.8 24.9 198.1 23.9 4.5 9.6 3.1b-0.2b0.4 EL-11.8 -93.7 -0.4 9.3 11.0 2.1e16.2 101.5 103.1 9.1 22.2 0.3b-1.4 -3.8 ES-8.7 -79.6 2.7 -4.8 11.3 6.3 26.4 191.2 35.6 8.6 16.8 2.9 -1.8 -3.9 FR-0.1 -8.9 -1.6 -17.0 5.7 3.5b11.2 115.6 64.3 8.6 12.6 0.0 -0.4e-0.9 HR-6.4 -89.1 1.9 12.9 7.8p8.9e16.8 101.3 37.7 11.5i23.6 2.2e-1.3 -7.5 IT-1.3 -21.2 -1.2 -8.9 6.5 2.6e12.0 109.7 99.8 6.9 0.6 -0.4b-0.9 -3.1 CY-8.6 -56.5 -1.3 -18.7e9.8 8.0 30.4 265.5 53.5 4.6 27.2 1.3e-0.6 0.0 LV-17.7 -69.0 7.7 95.6 69.7 22.0 29.5 102.6 8.0 7.7 36.7 3.3 -3.4 -9.4 LT-11.2 -54.6 0.9 30.5e25.0 19.3 22.8 74.7 15.9 6.1 34.6 -1.3 -4.2u-13.4 LU10.2 -18.2 2.4 25.6 6.8 4.7be148.8 309.6 7.7 4.5i13.7 1.1b0.1b-0.8 HU-7.0 -88.1 6.5 28.7 10.0 na15.9 93.7 65.0 7.4 23.7 1.1 0.8 2.6 MT-5.0 21.4 1.2 na4.9 19.6 7.8 146.7 62.3 6.7 44.0 0.6 -0.7 -3.1 NL7.8 -15.0 -2.1 -2.5 2.3 2.4 12.9 214.9 42.7 5.0 14.9 1.9 -0.3 -2.0 AT3.1 -9.7 -1.8 1.6 3.5 2.1e7.3 123.9 64.7 5.3 11.0 3.1b-0.2b-1.1 PL-4.3 -49.2 16.3 55.7e3.2 na12.5 54.4 44.2 13.8 18.4 -0.8b-5.4 -18.0 PT-10.1 -88.8 0.6 -3.3 5.1 -1.9e18.2 185.0 68.4 8.9 10.2 1.2 0.8 1.7 RO-10.9 -46.9 36.0 84.2 39.3 na20.3 57.8 12.7 6.9 35.3 0.0 -1.6 -1.2 SI-2.6 -25.5 -1.2 23.6 5.4 18.7e21.5 96.3 22.8 5.8 28.6 1.5 -1.1 -6.0 SK-8.7 -56.4 18.0 67.6e5.7 25.7 9.6 60.4 30.1 13.7 25.7 -1.4 -3.5 -12.8 FI3.6 -27.9 -4.9 -4.6 3.8 3.9p13.2 123.6 34.0 7.7 10.2 1.4 -0.6 -4.2 SE7.5 1.2 -4.1 1.4 4.9 10.9 20.1 167.9 39.3 7.0 9.5 1.9 -0.5 -1.2 UK-3.0 -8.0 -0.4 -15.0 10.0 7.8 18.4 183.8 41.9 5.2 16.8 0.2b0.3 2.3 Flags:b:Break in series. e:Estimated. p:Provisional. u:Low reliability. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindex:e=NSIestimatesforCZandSI;e=sourceNCBforEL,HR,IT,AT,andPT;e=NSI&NCBestimatesforLU.4)UnemploymentrateforDK,DE,HR,andLUi=Eurostatback-calculationtoinclude2011PopulationCensusresults.5)Privatesectordebt,privatesectorcreditflow:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseriesforLU.Themainimpact is a downward revision in levels of private sector debt for years 2007 to 2014.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Year2007External imbalances and competitivenessInternal imbalancesEmployment indicators 
 
 
 
 
 
 
Chapter 2: Tables by year - Auxiliary indicators used in the economic reading of the MIP scoreboard   

Table 2.1: Auxiliary indicators, 2016 

24 

Year2016Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net external debt(% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Nominal unit labour cost index (2010=100)(10 year % change)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Private sector debt,non-consolidated (% of GDP)Financial sector leverage, non-consolidated(% debt-to-equity)BE1.5 23.4 2.5p0.2 -26.6 8.0 214.5 -2.2 2.1 -5.0 2.0 5.2 0.2 17.6 1.5 3.8p5.9 225.5 192.6 BG3.9 18.6 0.8p7.5 -9.5 2.2 88.3 -2.4 -4.6 5.1 3.0 5.8 3.4p77.5p52.1 11.6p2.7 117.0 475.6 CZ2.6 25.0 1.7p2.2 -13.5 3.3 75.0 -2.1 -3.6 -0.0 3.6 2.2 1.3 17.0 -0.9 14.2p3.7 77.5 530.0 DK1.7 20.1 2.9e7.3 -7.3 2.1 52.5 0.0 -0.2 -6.9 2.6 0.2 0.0 20.9 4.4 16.2 4.4 221.3 158.9 DE1.9 20.0 2.9e8.4 -14.6 1.5 41.7 -1.5 0.4 -0.1 6.6 0.3 0.6 19.0 3.2 14.5 5.9 105.9 367.2 EE2.1 22.3 na3.0 -11.7 3.2 99.8 -1.0 0.4 -3.5 3.0 1.8 1.8 64.4 38.6 27.3 4.8 126.6 359.1 IE5.1 31.8 1.2e2.3 -368.6 25.8 503.3 -1.1 -0.9 55.3 0.4 2.3 2.3 -23.6 -28.8 39.6p2.1 300.2 72.3 EL-0.2p11.7p1.0p-0.5 137.5 1.6 16.0 -1.7p-3.2 -21.2 6.1p-4.1p-0.7p1.9p-11.5 -14.2e0.6p124.7p1354.2 ES3.3p20.0pna2.2 88.8 2.6 59.7 -1.5p-2.2 -0.7 0.0p2.5p0.7p5.9p-8.4 8.7 4.6p165.8p452.0 FR1.2p22.0pna-0.9 37.5 1.7 44.8 -1.4p0.1 -5.1 6.0p-0.5p0.5p15.9p-0.1 -2.0 6.0p188.7p347.5 HR3.0e19.9e0.9p3.5 40.9 3.7 57.7 -2.7e-1.0 5.1 1.7e3.3e2.7d4.3d-5.1 -3.6 na130.6e375.9 IT0.9 17.1 na2.6 55.1 1.0 25.9 -1.6 -0.7 -5.5 7.5 0.1 -0.3 16.4 0.6 -7.6p4.4 116.5 751.4 CY3.0p17.5pna-4.7 152.0 13.0 1061.6 -3.4p-3.3 -5.7 0.0p1.6p-0.1p3.0p-7.9 -2.9p4.6p345.6p76.3 LV2.1 18.2 0.4p2.4 28.8 0.9 58.1 -2.3 -0.1 6.2 -0.1 1.8 2.4 56.6 27.2 11.1 2.0 96.9 643.0 LT2.3 18.9 0.7p0.4 24.7 2.3 41.3 -2.6 -0.7 2.4 5.6 1.2 0.4 28.0 5.3 16.3 3.0 63.3 547.5 LU3.1 17.2 na4.4 -1875.5 23.2 8938.5 -2.5 -0.2 22.7 -1.0 0.4 0.0 28.4 7.8 16.6 3.2 410.1 54.0 HU2.2 19.2 1.2 6.2 9.5 55.6 260.8 -3.2 -5.1 -3.2 2.6 1.1 -0.4 23.2 9.1 33.6 2.4 92.5 75.8 MT5.5 23.8 0.6p7.4 -222.0 22.3 1736.5 -9.0 2.1 5.6 1.4 1.2 1.8 22.1 6.9 14.6p3.9 194.8 35.4 NL2.2p19.9pna8.8 43.7 19.6 598.9 -0.7p-0.4 -2.7 1.8p2.0p1.1p14.7p1.7 9.9 4.0p231.3p119.8pAT1.5 23.1 3.1p2.0 19.5 -7.8 66.6 -1.9 2.4 -6.7 2.1 -0.4 0.2 24.1 4.8 17.8 4.2 142.2 191.0 PL2.9 18.1 na0.8 32.1 3.6 50.2 -1.4 -5.5 14.8 4.9 6.5 2.3p21.1p2.3 4.4 3.0 86.4 321.0 PT1.5p15.3p1.3p1.7 94.5 4.5 76.1 -1.6p0.5 2.8 7.8p1.8p-0.1p2.6p-11.2 15.1 2.5p185.0p394.9 RO4.6p22.7pna0.4 22.5 3.3 44.8 -0.9p-2.6 20.1 4.8p6.0p5.5p44.0p20.3 6.7 2.5p57.2p406.7 SI3.1 17.6 na4.5 29.0 3.2 37.1 -2.1 -1.6 1.1 3.0 4.1 1.2 20.6 1.7 -2.8 2.1 88.1 399.3 SK3.3 21.2 0.8 0.5 28.4 4.0 65.6 -2.6 -2.0 4.3 -2.2 3.9 0.9 16.1 -1.7 14.0 2.4 92.6 571.6eFI1.9 21.5 2.8 -1.3 51.8 -1.8 49.9 -1.4 0.5 -16.5 5.4 -1.0 1.4 26.4 8.1 0.3 6.1 176.4 293.1 SE3.3 24.0 3.3p4.4 45.6 2.9 80.3 -0.8 -7.7 -10.5 1.8 1.0 1.6 25.0 8.4 34.4 5.1 231.6 185.3 UK1.8 16.4 na-6.0 na11.2 74.5 -0.5 5.1 -2.9 7.3 -1.2 0.4 20.4 2.9 22.4 3.6 168.2 686.6 Flags:e:Estimated. p:Provisional. 1)Housepriceindexe=sourceNCBforEL.2)Officialtransmissiondeadlinefor2016dataonGrossdomesticexpenditureonR&Dis31October2017whiledatawereextractedon24October2017.3)NominalunitlabourcostandlabourproductivityforHRd:employmentdatausenationalconceptinsteadofdomestic concept. 4) Private sector debt, private sector credit flow: the decline for IE relative to 2015 predominantly reflects restructuring and re-domiciling activities of large multinational companies.(cid:9)(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 2.1 (continued): Auxiliary indicators, 2016 

25 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE1.3 67.6 4.0 20.1 9.9 -2.8 20.7 -0.1 15.5 0.4 5.5 0.4 14.6 0.6 BG0.5p68.7 4.5 17.2 18.2 -3.4 40.4b-7.6b22.9b1.9b31.9b-11.1b11.9b-1.1bCZ1.3 75.0 1.7 10.5 7.0 -2.1 13.3 -1.3 9.7 1.1 4.8 -1.8 6.7 -0.2 DK1.7 80.0b1.4b12.0 5.8b-0.2b16.7 -1.6 11.9 0.0 2.6 -1.0 10.6 -1.3 DE1.3 77.9 1.7 7.1 6.7 0.4 19.7 -0.6 16.5 0.4 3.7 -1.7 9.6 -0.3 EE0.3 77.5 2.1 13.4 9.1 -2.2 24.4 0.9 21.7 3.1 4.7 -2.9 5.8 -2.6 IE2.8 70.5 4.2 17.2 13.0 -3.1 nananana7.5e-2.4enanaEL0.5p68.2 17.0 47.3 15.8 -4.6 35.6 -0.1 21.2 -1.9 22.4 2.1 17.2 -1.0 ES2.5p74.2 9.5 44.4 14.6 -4.0 27.9 0.6 22.3 1.9 5.8 -0.4 14.9 -0.8 FR0.6p71.4 4.6 24.6 11.9 0.7 18.2 0.1 13.6 -0.1 4.4 -0.5 8.4 0.3 HR0.3d65.6 6.6 31.8 16.9 -2.7 27.9 -2.0 19.5 0.0 12.5 -2.2 13.0 -1.8 IT1.3 64.9 6.7 37.8 19.9 -2.3 nananana11.9p-0.4pnanaCY3.1p73.4 5.8 29.1 16.0 -2.7 27.7 -0.1 16.1 0.8 13.6 -2.5 10.6 2.7 LV-0.3 76.3 4.0 17.3 11.2 -1.8 28.5 -6.6 21.8 2.4 12.8 -11.2 7.2 -2.8 LT2.0 75.5 3.0 14.5 9.4 -1.7 30.1 -0.7 21.9 1.3 13.5 -2.5 10.2 -0.8 LU3.0 70.0 2.2 19.1 5.4 0.4 19.7bp0.7bp16.5bp0.6bp1.6bp-0.2bp6.6bp0.0bpHU2.6 70.1 2.4 12.9 11.0 -4.5 26.3 -8.5 14.5 -0.5 16.2 -11.6 8.2 -5.4 MT3.7 69.1 1.9 11.0 8.5 -1.4 20.1 -3.9 16.5 0.8 4.4 -5.1 7.3 -1.7 NL1.1p79.7 2.5 10.8 4.6 -1.0 16.7b0.8b12.7b2.3b2.6b0.1b9.7b0.4bAT1.2 76.2 1.9 11.2 7.7 0.4 18.0 -0.8 14.1 -0.3 3.0 -1.2 8.1 0.3 PL0.6p68.8 2.2 17.7 10.5 -1.7 21.9 -3.9 17.3 0.0 6.7 -5.2 6.4 -0.8 PT1.6p73.7 6.2 28.2 10.6 -3.5 25.1 -2.4 19.0 0.3 8.4 -2.5 9.1 -3.1 RO-0.9p65.6 3.0 20.6 17.4 0.4 38.8p-3.1p25.3p2.3p23.8 -6.0 8.2 0.6 SI1.9 71.6 4.3 15.2 8.0 -1.2 18.4 -2.0 13.9 -0.6 5.4 -1.3 7.4 -0.6 SK2.4 71.9 5.8 22.2 12.3 -1.4 18.1 -1.7 12.7 -0.1 8.2 -2.0 6.5 -1.1 FI0.5 75.9 2.3 20.1 9.9 0.6 16.6 0.6 11.6 -0.2 2.2 -0.3 11.4 2.4 SE1.7 82.1 1.3 18.9 6.5 -1.0 18.3 1.9 16.2 1.4 0.8 -0.6 8.5 1.4 UK1.4 77.3 1.3 13.0 10.9 -2.3 22.2 -2.6 15.9 0.0 5.2 -3.1 11.3 -1.9 Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. e:Estimated. p:Provisional. 1)Youngpeopleneitherinemploymentnorineducationandtraining:forESchangeintheclassificationofnon-formaleducationactivities;forFR,dataareimpactedfromthechangesinthequestionnaireintroducedin2013andinclusionofFrenchoverseasdepartments(DROM).2)Officialtransmission deadline for 2016 data on People at risk of poverty and social exclusion is 30 November 2017 while data were extracted on 24 October 2017. 3) Employment rate for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2016Employment rate(1 year % change) 
 
 
 
 
 
 
 
 
Table 2.2: Auxiliary indicators, 2015 

26 

Year2015Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net external debt(% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Nominal unit labour cost index (2010=100)(10 year % change)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Private sector debt,non-consolidated (% of GDP)Financial sector leverage, non-consolidated(% debt-to-equity)BE1.4 23.2 2.5 -0.1 -54.5 -6.5 225.5 -2.7 0.2 -10.6 0.1 0.2 0.5 20.3 4.0 2.3p5.8 214.0 176.3 BG3.6 21.0 1.0 3.1 1.5 5.4 91.8 -3.8 -3.9 13.9 3.5 2.6 3.3p78.4p54.3 2.0bp1.4 121.5 506.7 CZ5.3 26.5 1.9 2.5 -8.2 0.9 75.8 -2.4 -8.0 -0.4 0.9 2.9 3.8 13.9 -2.1 6.5p3.6 77.9 507.8 DK1.6 19.2 3.0p8.5 -0.6 0.4 48.7 0.0 -1.3 -6.8 0.6 -1.3 0.3 21.5 4.3 15.3 4.0 219.5 154.5 DE1.7 19.9 2.9 8.5 -11.3 1.6 41.3 -2.0 0.5 -1.1 2.1 2.1 0.8 15.0 -1.3 11.4 5.7 105.7 368.7 EE1.7 23.6 1.5 4.0 -10.5 -3.2 98.9 -1.5 1.6 9.5 2.5 -3.8 -1.2 72.6 41.7 34.5 4.4 127.4 376.7 IE25.6 20.3 1.2 10.4 -299.8 81.7 499.0 -1.5 -1.3 43.0 2.6 35.3 22.5 -20.7 -27.1 31.5p1.9 328.3 78.9 EL-0.3p11.5p1.0 0.9 137.8 0.7 14.8 -2.1p-5.2 -19.6 6.0p0.0p-1.0p1.4p-13.8 -21.6e0.7p126.1p1343.4 ES3.4p19.8p1.2 1.8 94.0 2.9 59.1 -2.0p-1.3 -2.4 -4.2p1.1p0.7p10.2p-5.2 -5.6 4.4p174.6p466.3 FR1.1p21.6p2.2p-0.1 36.7 1.5 44.0 -1.8p-0.4 -4.2 2.7p1.2p0.8p17.6p1.7 -4.9 5.9p183.5p358.6 HR2.3 19.60.9 5.1 51.9 0.4 54.4 -3.4 -1.1 -4.4 0.5 6.3 1.1d8.7d-3.6 -8.2 na138.2 427.7 IT1.0 16.9 1.3 1.8 59.2 0.7 25.6 -2.0 -0.5 -7.5 2.2 1.3 0.3 17.7 2.9 -12.2p4.3 118.2 660.4 CY2.0 13.0 0.5 -1.2 148.3 41.4 1050.0 -4.1 -2.4 -10.6 -0.5 3.2 0.5 5.4 -6.2 -7.1bp4.2 354.7 78.2 LV2.8 22.1 0.6 2.3 29.2 3.1 59.8 -3.2 -2.0 14.5 0.1 -0.1 1.4 73.8 42.7 9.5 2.5 97.5 625.4 LT2.0 19.6 1.0 0.2 25.8 2.3 40.0 -3.6 -1.4 17.0 2.2 -3.5 0.7 35.5 11.5 11.7 2.8 59.1 468.3 LU2.9 17.3 1.3 4.6 -1948.1 1063.5 9159.2 -3.1 0.3 26.1 0.1 3.8 0.3 31.1 11.6 15.5 3.0 418.7 53.5 HU3.4 21.9 1.4 8.0 24.0 -4.4 222.4 -4.2 -7.1 -6.4 0.0 5.4 0.9 20.1 6.5 14.8 2.2 99.5 109.3 MT7.1 25.1 0.8 6.4 -257.3 28.7 1771.4 -9.2 1.0 -0.5 1.0 1.1 3.0 25.9 9.4 8.1 3.2 198.0 36.8 NL2.3 19.4 2.0 3.6 51.7 19.3 587.2 -1.1 1.0 -5.1 -0.3 3.4 1.3p14.5p0.8 -1.9 3.5 236.0 123.1 AT1.1 22.5 3.1 1.4 19.2 -2.3 75.0 -2.3 2.3 -7.7 -0.2 0.0 0.5 23.2 6.3 14.2 4.3 142.3 183.2 PL3.8 20.1 1.0 1.8 34.7 3.2 48.1 -1.6 -1.9 11.2 2.5 4.6 2.3 17.7 0.1 -2.0 2.5 83.4 300.9 PT1.8 15.5 1.2 1.3 100.8 1.2 73.5 -2.3 -1.0 4.0 4.7 3.0 0.4 1.1 -12.2 5.4 2.4 195.8 379.1 RO4.0 24.7 0.5 1.2 27.2 2.4 42.6 -0.9 2.4 22.7 6.0 1.5 5.3 43.6 22.7 0.5 2.4 61.2 390.7 SI2.3 18.9 2.2 5.4 35.4 4.0 34.4 -3.1 -0.7 -2.8 0.7 1.9 1.0 20.2 2.7 -10.8 2.1 95.5 409.7 SK3.9 23.9 1.2 1.8 28.9 1.7 63.5 -3.5 -1.2 6.1 -3.2 3.3 1.8 16.3 -0.3 7.8 2.3 85.9 530.6eFI0.0 20.4 2.9 -1.0 49.6 6.4 57.3 -1.8 1.1 -20.0 2.7 -2.3 0.1 28.4 9.5 0.8 5.6 191.0 303.1 SE4.5 23.6 3.3 4.5 47.5 1.7 82.8 -0.9 -7.8 -7.8 0.6 2.6 3.0 23.7 7.0 30.5 4.6 234.4 186.5 UK2.3 16.6 1.7 -5.3 na1.8 67.5 -0.6 14.0 3.7 4.3 1.9 0.6 22.4 5.9 17.4 3.6 164.8 645.7 Flags:b:Break in series. e:Estimated. p:Provisional. 1)Housepriceindexe=sourceNCBforEL.2)NominalunitlabourcostandlabourproductivityforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.3)Privatesectordebt,privatesectorcreditflow:significantincreasesforIEduetore-domicilingoflargemultinationalcorporationsandmovement of large parts of their balance sheets. (cid:9)(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 2.2 (continued): Auxiliary indicators, 2015 

27 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE0.9 67.6 4.4 22.1 12.2 -0.1 21.1 -0.5 14.9 -0.4 5.8 -0.5 14.9 1.0 BG0.4p69.3 5.6 21.6 19.3 -2.2 41.3 -8.0 22.0 0.8 34.2 -9.9 11.6 -0.9 CZ1.4 74.0 2.4 12.6 7.5 -1.4 14.0 -1.4 9.7 0.1 5.6 -1.0 6.8 0.0 DK1.3 78.5 1.7 10.8 6.2 -0.4 17.7 0.2 12.2 0.2 3.7 1.0 11.6 1.4 DE0.9 77.6 2.0 7.2 6.2 -0.9 20.0 0.4 16.7 0.6 4.4 -0.5 9.8 -0.1 EE2.9 76.7 2.4 13.1 10.8 -1.4 24.2 0.8 21.6 4.1 4.5 -4.9 6.6 -2.5 IE2.5 70.0 5.3 20.9 14.3 -4.4 26.0 -4.3 16.3 -0.3 7.5 -2.3 19.2 -4.2 EL0.7p67.8 18.2 49.8 17.2 -3.0 35.7 1.1 21.4 -1.7 22.2 2.7 16.8 2.6 ES2.7p74.3 11.4 48.3 15.6 -3.0 28.6 1.4 22.1 1.3 6.4 0.6 15.4 1.1 FR0.2p71.3 4.6 24.7 12.0 -0.5 17.7 -1.4 13.6 -0.5 4.5 -0.8 8.6 0.2 HR1.2d66.9 10.2 42.3 18.1 1.5 29.1 -3.5 20.0 -0.4 13.7 -2.2 14.4 -2.4 IT0.7 64.0 6.9 40.3 21.4 0.4 28.7 -1.2 19.9 0.4 11.5 -3.0 11.7 1.1 CY1.5 73.9 6.8 32.8 15.3 -0.7 28.9 1.8 16.2 1.5 15.4 0.4 10.9 4.4 LV1.4 75.7 4.5 16.3 10.5 -4.4 30.9 -5.3 22.5 3.3 16.4 -9.2 7.8 -3.9 LT1.3 74.1 3.9 16.3 9.2 -2.0 29.3 -3.2 22.2 3.6 13.9 -5.9 9.2 -2.2 LU2.6 70.9b1.9b16.6 6.2b0.3b18.5 0.1 15.3 0.2 2.0 0.7 5.7 -0.4 HU2.4 68.6 3.1 17.3 11.6b-3.2b28.2 -5.3 14.9 0.6 19.4 -6.9 9.4 -4.1 MT3.9 67.6 2.4 11.8 10.4 -0.2 22.4 -0.7 16.3 1.2 8.1 -1.1 9.2 0.2 NL0.9p79.6 3.0 11.3 4.7 -0.2 16.4 1.4 11.6 1.5 2.6 0.3 10.2 1.3 AT0.6 75.5 1.7 10.6 7.5 0.7 18.3 -0.2 13.9 -0.5 3.6 -0.4 8.2 0.5 PL1.5 68.1 3.0 20.8 11.0 -0.8 23.4 -3.3 17.6 0.5 8.1 -5.4 6.9 0.0 PT1.4 73.4 7.2 32.0 11.3 -2.6 26.6 1.3 19.5 1.6 9.6 1.0 10.9 0.8 RO-1.3 66.1 3.0 21.7 18.1 1.3 37.4 -5.8 25.4 2.5 22.7 -8.4 7.9 0.0 SI1.2 71.8 4.7 16.3 9.5 0.2 19.2 -0.4 14.3 0.8 5.8 -0.8 7.4 -0.1 SK2.0 70.9 7.6 26.5 13.7 -0.1 18.4 -2.1 12.3 -0.9 9.0 -1.5 7.1 -0.1 FI-0.1 75.8 2.3 22.4 10.6 2.0 16.8 -0.4 12.4 -0.8 2.2 -0.7 10.8 1.5 SE1.5 81.7 1.5 20.4 6.7 -1.1 18.6b3.0b16.3b2.2b1.1b-0.2b8.7b3.0bUK1.7 76.9 1.6 14.6 11.1 -2.8 23.5 -0.6b16.6 0.6 6.1 -1.7 11.9 -1.1bFlags:b:Break in series. p:Provisional. 1)Youngpeopleneitherinemploymentnorineducationandtraining:forFR,dataareimpactedfromthechangesinthequestionnaireintroducedin2013andinclusionofFrenchoverseasdepartments(DROM).2)EmploymentrateforHRd:employmentdatausenationalconceptinsteadofdomestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2015Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59 
 
 
 
 
 
 
 
 
Table 2.3: Auxiliary indicators, 2014 

28 

Year2014Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net external debt(% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Nominal unit labour cost index (2010=100)(10 year % change)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Private sector debt,non-consolidated (% of GDP)Financial sector leverage, non-consolidated(% debt-to-equity)BE1.4 23.1 2.4 -1.1 -71.1 -4.4 228.4 -3.8 -0.1 -7.2 -2.4 1.5 0.9 22.2 5.0 2.9 5.9 208.1 189.6 BG1.3 21.1 0.8 2.3 18.3 3.6 96.2 -5.6 -2.9 13.0 3.0 -0.6 1.0p82.7p55.7 -2.7p1.6 136.8 429.7 CZ2.7 25.1 2.0 0.9 -4.5 3.9 77.3 -4.0 -10.1 0.6 -1.4 5.0 2.2 14.1 -2.3 0.9 3.4 80.6 498.7 DK1.7 19.2 2.9 8.7 0.3 2.0 49.9 0.0 -1.4 -9.8 2.9 -0.1 0.7 23.0 4.8 4.9 3.9 222.7 170.1 DE1.9 20.0 2.9 7.5 -6.6 0.4 41.2 -2.8 -0.1 -2.4 -2.8 0.9 1.1 12.4 -5.6 10.0 5.9 106.7 397.6 EE2.9 24.4 1.5 1.3 -10.6 6.6 104.9 -2.1 3.1 28.5 -0.1 -1.2 2.1 70.6 35.0 35.0 3.9 130.0 313.4 IE8.3 20.8 1.5e-1.8 -415.7 36.5 385.2 -2.7 -1.8 -6.1 -4.9 10.7 6.5 -1.0 -9.2 2.1p2.3 304.1 84.0 EL0.7p11.5p0.8 -0.2 132.6 1.1 11.8 -3.4p-5.6 -12.6 1.5p4.0p-0.2p11.8p-5.0 -27.1e1.0p128.0p1001.9 ES1.4 19.3 1.2 1.6 97.7 2.4 59.4 -2.9 -0.6 -6.0 -7.5 0.6 0.4 12.5 -3.2 -22.3 4.5 186.3 490.1 FR0.9 21.8 2.2 -1.0 35.8 0.0 42.1 -2.5 -0.7 -8.4 -1.7 -0.4 0.5 20.0 2.6 -4.0 6.1 180.5 393.2 HR-0.1 19.30.8 2.1 57.7 5.3 56.0 -4.0 -1.5 -14.5 0.6 2.3-2.7d12.7d-1.8 -6.9 na140.9 465.4 IT0.1 16.7 1.4e2.1 58.7 0.8 25.1 -2.6 0.4 -9.2 -4.1 -1.0 0.0 19.5 3.5 -12.4p4.5 122.4 782.4 CY-1.4 11.7 0.5 -3.5 136.1 -2.2 849.4 -5.9 -0.1 -18.7 0.1 0.5 0.4 14.2 -0.7 -8.7p4.1 353.8 99.5 LV1.9 22.5 0.7 1.5 33.6 3.0 56.3 -4.2 -1.3 19.0 -0.4 2.3 3.3 88.3 55.2 16.6 2.5 104.2 642.6 LT3.5 18.9 1.0 5.8 27.7 1.1 38.4 -4.7 -0.1 43.3 -0.9 -0.4 1.5 37.4 11.7 7.5 2.5 58.1 443.1 LU5.8 19.0 1.3 3.8 -1967.3 273.1 7817.6 -4.4 0.8 19.4 1.2 10.3 3.1 32.0 14.4 14.2 3.2 384.8 54.1 HU4.2 22.2 1.4 5.2 57.6 9.5 217.2 -6.2 -7.2 -10.7 -0.8 5.4 -0.6 26.7 8.4 -2.2 1.9 108.1 125.0 MT8.2 17.4 0.7 10.5 -302.1 2.8 1852.4 -14.9 0.7 -6.2 2.1 0.2 2.9 24.2 7.1 5.2 2.5 210.6 41.6 NL1.4 18.0 2.0 8.5 53.7 13.1 565.3 -1.6 1.3 -4.9 -2.6 0.8 1.5 15.9 0.4 -11.6 3.0 234.2 126.8 AT0.8 22.6 3.1e2.4 20.0 0.4 77.8 -3.0 1.6 -9.7 -2.8 -0.7 -0.1 22.4 5.4 16.8 4.3 142.7 193.7 PL3.3 19.7 0.9 0.4 36.4 3.6 51.5 -2.6 -1.7 12.3 -1.4 3.0 1.5 19.2 1.7 -6.8 3.0 81.7 284.3 PT0.9 15.0 1.3 1.6 104.4 5.7 74.0 -3.6 -1.2 0.7 0.1 0.6 -0.5 4.5 -10.1 -4.9 2.5 208.1 358.3 RO3.1 24.3 0.4 2.0 29.8 1.9 41.9 -1.4 -1.3 28.8 4.5 4.3 2.3 81.2 54.2 -7.3 2.4 63.1 402.1 SI3.0 19.4 2.4 6.0 41.4 2.0 31.5 -4.1 0.4 -6.6 -4.6 2.0 2.6 21.5 3.4 -17.6 2.2 107.3 449.2 SK2.8 20.7 0.9 2.1 27.5 -0.4 62.1 -4.3 0.5 9.3 -3.5 0.2 1.3 18.9 2.1 -0.4 2.3 85.1 774.2eFI-0.6 20.6 3.2 -1.2 47.8 6.3 52.4 -2.4 2.0 -21.1 -2.7 -6.4 -0.2 29.6 10.1 3.2 5.5 183.5 365.2 SE2.6 23.1 3.2e4.5 55.7 -1.7 84.0 -1.3 -3.7 -3.1 -0.8 1.6 1.2 24.7 5.6 16.7 4.0 234.2 193.6 UK3.1 16.4 1.7e-5.4 na2.0 72.1 -0.8 10.2 -2.8 5.0 -1.0 0.7 23.6 5.2 11.2 3.5 167.3 746.6 Flags:e:Estimated. p:Provisional. 1)Housepriceindexe=sourceNCBforEL.2)NominalunitlabourcostforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.3)Privatesectordebt:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseriesforLU.Themainimpactisadownwardrevisioninlevels of private sector debt for years 2007 to 2014.(cid:9)(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 2.3 (continued): Auxiliary indicators, 2014 

29 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE0.4 67.7 4.3 23.2 12.0 0.2 21.2 0.2 15.5 0.2 5.9 0.2 14.6 0.8 BG0.4p69.0 6.9 23.8 20.2 -1.6 40.1b-9.0b21.8 -0.4 33.1 -10.5 12.1 1.1 CZ0.6 73.5 2.7 15.9 8.1 -0.2 14.8 -0.5 9.7 -0.1 6.7 0.6 7.6 1.0 DK1.0 78.1 1.7 12.6 5.8 -0.5 17.9 0.3b12.1 0.0 3.2 0.9 12.2 1.7 DE0.8 77.7 2.2 7.7 6.4 -1.1 20.6 0.7 16.7 0.9 5.0 -0.3 10.0 -1.2 EE0.8 75.2 3.3 15.0 11.7 0.1 26.0b2.9b21.8 4.3 6.2 -2.5 7.6b-2.4bIE1.7 69.8 6.6 23.9 15.2 -3.6 27.7 -1.7 16.4 1.2 8.4 0.6 21.0 -3.2 EL0.9p67.4 19.5 52.4 19.1 1.7 36.0 5.0 22.1 0.7 21.5 6.3 17.2 5.2 ES1.0 74.2 12.9 53.2 17.1b-1.1b29.2 2.5 22.2 1.6 7.1 2.6 17.1 3.7 FR0.4 71.1 4.5 24.2 11.4b-0.9b18.5 -0.8 13.3 -0.7 4.8 -0.4 9.6 0.2 HR2.7d66.1 10.1 44.9 19.3 3.1 29.3 -3.3 19.4 -1.5 13.9 -1.3 14.7 -1.2 IT0.1 63.9 7.7 42.7 22.1 2.4 28.3 0.2 19.4 -0.4 11.6 0.5 12.1 1.6 CY-1.8 74.3 7.7 36.0 17.0 2.4 27.4 2.8 14.4 -0.4 15.3 3.6 9.7 4.8 LV-1.3 74.6 4.6 19.6 12.0 -4.0 32.7 -7.4 21.2 2.2 19.2 -11.8 9.6 -3.0 LT2.0 73.7 4.8 19.3 9.9 -1.9 27.3 -5.8 19.1 -0.1 13.6 -5.4 8.8 -3.9 LU2.6 70.8 1.6 22.3 6.3 1.6 19.0 2.2 16.4 2.8 1.4 0.2 6.1 0.3 HU4.8 67.0 3.7 20.4 13.6 0.4 31.8 0.3 15.0 0.9 24.0 0.6 12.8 0.0 MT5.1 66.3 2.7 11.7 10.5 0.3 23.8 1.7 15.9 0.3 10.2 3.6 9.8 0.9 NL-0.1 79.0 2.9 12.7 5.5 1.2 16.5 0.8 11.6 0.6 3.2 0.7 10.2 1.3 AT1.0 75.4 1.5 10.3 7.7 0.4 19.2 0.0 14.1 -0.4 4.0 0.0 9.1 0.5 PL1.7 67.9 3.8 23.9 12.0 0.5 24.7 -2.5 17.0 -0.7 10.4 -2.6 7.3 0.4 PT1.4 73.2 8.4 34.7 12.3 -0.3 27.5 3.1 19.5 1.5 10.6 2.3 12.2 3.9 RO0.8 65.7 2.8 24.0 17.0 -0.5 40.3 -0.6 25.1 2.8 25.9 -3.6 7.2 -0.1 SI0.4 70.9 5.3 20.2 9.4 2.3 20.4 1.1 14.5 0.9 6.6 0.5 8.7 1.1 SK1.4 70.3 9.3 29.7 12.8 -1.0 18.4 -2.2 12.6 -0.4 9.9 -0.7 7.1 -0.6 FI-0.5 75.4 1.9 20.5 10.2 1.8 17.3 -0.6 12.8 -0.9 2.8 -0.4 10.0 0.0 SE1.4 81.5 1.4 22.9 7.2 -0.3 16.9 0.8 15.1 1.1 0.7 -0.5 6.4 -0.5 UK2.4 76.7 2.2 17.0 11.9 -2.3 24.1 1.4 16.8 0.6 7.4 2.3 12.3 0.8 People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. p:Provisional. 1)Youngpeopleneitherinemploymentnorineducationandtraining:forFR,dataareimpactedfromthechangesinthequestionnaireintroducedin2013andinclusionofFrenchoverseasdepartments(DROM).2)EmploymentrateforHRd:employmentdatausenationalconceptinsteadofdomestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2014Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
Table 2.4: Auxiliary indicators, 2013 

30 

Year2013Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net external debt(% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Nominal unit labour cost index (2010=100)(10 year % change)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Private sector debt,non-consolidated (% of GDP)Financial sector leverage, non-consolidated(% debt-to-equity)BE0.2 22.2 2.3 -0.4 -88.4 -5.4 220.3 -4.5 0.6 -6.4 0.4 -2.9 0.5 21.2 4.7 7.6 5.7 206.0 192.2 BG0.9 21.1 0.6 2.4 21.6 3.6 89.3 -6.2 -0.4 7.5 4.2 5.8 1.3p78.8p52.0 -9.3p1.7 142.5 450.2 CZ-0.5 25.1 1.9 1.5 -5.1 3.5 77.4 -4.8 -2.4 -2.8 -0.9 -3.6 -0.8 16.7 0.6 -1.4 3.2 84.3 532.0 DK0.9 19.1 3.0 7.7 8.2 0.2 41.8 0.3 -1.3 -11.5 2.4 -2.2 1.0 21.9 4.2 -0.6 3.7 227.3 190.0 DE0.5 19.7 2.8 6.7 -3.9 1.8 41.0 -3.4 -0.8 -5.7 0.3 -2.1 -0.1 9.9 -8.9 10.4 5.8 110.4 422.9 EE1.9 27.7 1.7 3.1 -4.9 4.4 98.8 -2.2 5.4 18.2 -0.8 -1.0 0.7 72.1 39.5 28.8 3.4 127.1 299.8 IE1.6 18.6 1.6e1.6 -352.9 27.8 344.1 -3.2 -3.1 -1.1 -4.3 -0.8 -0.9 5.6 -2.7 -27.3p2.0 290.7 99.1 EL-3.2p12.2p0.8 -0.4 132.7 1.2 12.0 -3.7p-3.5 -20.0 -0.8p-2.3p-0.6p15.9p-1.1 -25.5e2.2p129.2p849.4 ES-1.7 18.8 1.3 2.2 94.7 3.8 56.4 -3.4 0.4 -4.4 -2.0 0.5 0.9 16.1 0.2 -28.5 4.1 197.1 601.3 FR0.6 22.1 2.2 -0.8 32.5 1.1 41.4 -3.1 -1.3 -8.4 -0.4 -1.9 0.3 19.8 2.6 3.2 6.1 174.5 372.0 HR-0.6 19.70.8 1.1 59.4 1.6 50.4 -5.1 -3.0 -17.4 1.3 -0.7 2.0d17.4d1.9 -5.3 na143.1 486.8 IT-1.7 17.2 1.3 0.9 56.4 0.9 23.8 -3.3 1.0 -14.0 -0.6 -3.1 0.1 22.2 6.3 -7.7p4.8 124.6 941.2 CY-5.9 14.1 0.5 -3.5 140.0 -25.0 863.8 -6.3 1.0 -8.7 -0.2 -1.7 0.0 20.8 4.5 -8.5p4.1 341.5 90.9 LV2.6 23.2 0.6 -0.2 36.4 3.2 54.0 -5.6 0.2 14.1 1.0 -2.7 0.3 90.5 57.8 21.5 2.2 110.2 609.8 LT3.5 18.5 1.0 3.9 29.2 1.5 38.7 -6.1 1.4 28.5 -5.6 6.1 2.1 38.5 12.8 7.7 2.2 62.2 578.1 LU3.7 19.5 1.3 4.3 -2162.8 1025.1 6486.1 -5.4 1.7 11.4 2.8 1.5 1.8 36.7 16.2 13.4 3.6 375.2 56.9 HU2.1 20.9 1.4 7.3 59.6 -2.8 211.4 -6.3 -3.2 -16.9 -0.3 0.4 1.0 30.8 10.7 -9.4 1.8 111.2 124.7 MT4.6 17.5 0.8 4.4 -376.6 5.7 1973.2 -9.2 0.1 7.0 1.0 -2.6 0.8 29.4 12.1 1.2 2.6 214.6 38.3 NL-0.2 17.9 2.0 10.0 52.2 37.9 540.8 -1.4 1.4 -4.5 -1.7 -1.7 1.0 15.7 0.9 -14.0 3.0 235.4 127.2 AT0.0 23.0 3.0 1.8 20.1 0.1 75.2 -3.5 1.6 -12.1 -1.9 -3.2 -0.3 20.0 3.6 19.9 4.3 146.7 204.9 PL1.4 18.8 0.9 1.0 36.1 0.2 50.1 -2.7 -3.3 7.4 -0.1 2.3 1.5 16.8 0.2 -7.6 3.0 78.7 273.5 PT-1.1 14.8 1.3 3.2 99.6 4.7 69.5 -3.7 0.1 -0.3 3.7 3.2 1.8 6.1 -9.1 -13.3 2.5 220.9 364.3 RO3.5 24.7 0.4 1.0 35.8 2.0 42.9 -1.9 0.6 22.5 4.2 15.9 4.4 79.3 52.6 -17.0 2.4 67.7 432.0 SI-1.1 19.8 2.6 4.8 42.6 0.2 29.1 -5.5 0.0 -12.1 -2.3 -0.7 0.0 27.3 8.9 -9.4 2.4 118.4 594.0 SK1.5 20.7 0.8 3.3 23.9 1.0 64.8 -5.9 2.5 3.3 -4.6 2.9 2.3 21.1 4.5 -3.3 2.7 79.9 745.5eFI-0.8 21.2 3.3 -1.5 40.3 -1.9 46.8 -2.6 1.9 -26.0 -2.7 -2.7 0.0 28.5 9.3 6.9 6.0 177.1 364.5 SE1.2 22.3 3.3e5.0 55.8 0.3 90.1 -1.5 6.0 -10.8 0.0 -4.6 0.3 22.4 4.1 9.4 3.5 232.5 207.0 UK2.1 15.8 1.7 -5.6 na2.0 72.2 -1.1 4.3 -5.6 4.5 -3.0 0.9 28.1 8.9 1.5 3.2 176.4 781.8 Flags:e:Estimated. p:Provisional. 1)Housepriceindexe=sourceNCBforEL.2)NominalunitlabourcostforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.3)Privatesectordebt:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseriesforLU.Themainimpactisadownwardrevisioninlevels of private sector debt for years 2007 to 2014.(cid:9)(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 2.4 (continued): Auxiliary indicators, 2013 

31 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE-0.3 67.5 3.9 23.7 12.7 1.8 20.8 0.0 15.1 0.5 5.1 -0.8 14.0 1.3 BG-0.4p68.4 7.4 28.4 21.6 0.6 48.0 -1.2 21.0 0.3 43.0 -2.7 13.0 5.0 CZ0.3 72.9 3.0 18.9 9.1b0.3b14.6 0.2 8.6 -0.4 6.6 0.4 6.9 0.5 DK0.0 78.1 1.8 13.0 6.0 0.0 18.3 0.0 11.9 -1.4 3.6 0.9 11.9 1.3 DE0.6 77.6 2.3 7.8 6.3 -2.0 20.3 0.6 16.1 0.5 5.4 0.9 9.9 -1.3 EE1.2 75.1 3.8 18.7 11.3 -2.7 23.5 1.8 18.6 2.8 7.6 -1.4 8.4 -0.6 IE2.5 69.8 7.8 26.8 16.1 -3.1 29.9 2.6 15.7 0.5 9.9 4.2 23.9 1.0 EL-2.6p67.5 18.5 58.3 20.4 5.6 35.7 8.0 23.1 3.0 20.3 8.7 18.2 10.6 ES-2.6 74.3 13.0 55.5 18.6 0.8 27.3 1.2 20.4 -0.3 6.2 1.3 15.7 4.9 FR0.2 70.7 4.4e24.9 11.2b-1.5b18.1 -1.1 13.7 0.4 4.9 -0.9 8.1 -1.8 HR-2.6d63.7 11.0 49.9 19.6 3.9 29.9 -1.2 19.5 -1.1 14.7 0.4 14.8 0.9 IT-1.8 63.4 6.9 40.0 22.2 3.2 28.5 3.5 19.3 0.6 12.3 4.9 11.3 0.7 CY-5.9 73.6 6.1 38.9 18.7 7.0 27.8 3.2 15.3 -0.3 16.1 4.9 7.9 3.0 LV2.3 74.0 5.7 23.2 13.0 -4.8 35.1 -3.1 19.4 -1.5 24.0 -3.6 10.0 -2.6 LT1.3 72.4 5.1 21.9 11.1 -2.1 30.8 -3.2 20.6 0.1 16.0 -3.9 11.0 1.5 LU1.8 69.9 1.8 16.9 5.0 -0.1 19.0 1.9 15.9 1.4 1.8 1.3 6.6 1.1 HU1.1 64.7 4.9 26.6 15.5 2.9 34.8 4.9 15.0 2.7 27.8 6.2 13.6 1.7 MT3.7 65.0 2.9 13.0 9.9 0.4 24.0 2.8 15.7 0.2 9.5 3.0 9.0 -0.2 NL-1.2 79.4 2.5 13.2 5.6b1.3b15.9 0.8 10.4 0.1 2.5 0.3 9.3 0.9 AT0.3 75.5 1.3 9.7 7.3 -0.1 18.8 -0.1 14.4 -0.3 4.2 -0.1 7.8 0.0 PL-0.1 67.0 4.4 27.3 12.2b1.4b25.8 -2.0 17.3 -0.3 11.9 -2.3 7.2 -0.1 PT-2.9 73.0 9.3 38.1 14.1 2.7 27.5 2.2 18.7 0.8 10.9 1.9 12.2 3.6 RO-0.9 64.9 3.2 23.7 17.0 0.4 41.9 0.4 23.0 1.4 29.8 -0.7 7.6 -0.1 SI-1.1 70.5 5.2 21.6 9.2 2.1 20.4 2.1 14.5 1.8 6.7 0.8 8.0 1.0 SK-0.8 69.9 10.0 33.7 13.7 -0.4 19.8 -0.8 12.8 0.8 10.2 -1.2 7.6 -0.3 FI-0.7 75.2 1.7 19.9 9.3 0.3 16.0 -0.9 11.8 -1.3 2.5 -0.3 9.0 -0.3 SE1.0 81.1 1.4 23.6 7.5 -0.2 16.4 1.4 14.8 1.9 1.4 0.1 7.1 1.1 UK1.2 76.4 2.7 20.7 13.2 -0.4 24.8 1.6 15.9 -1.2 8.3 3.5 13.2 0.0 Flags:b:Break in series. e:Estimated. p:Provisional. 1) Employment rate for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatPeople living in households with very low work intensity -% of total population aged 0-59Year2013Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total population 
 
 
 
 
 
 
 
 
Table 2.5: Auxiliary indicators, 2012 

32 

Year2012Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net external debt(% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Nominal unit labour cost index (2010=100)(10 year % change)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Private sector debt,non-consolidated (% of GDP)Financial sector leverage, non-consolidated(% debt-to-equity)BE0.2 22.6 2.3 0.5 -102.7 1.3 236.2 -5.0 1.9 -5.4 -2.5 -2.5 -0.2 20.1 2.5 9.7 5.9 205.4 199.4 BG0.0 21.3 0.6 0.4 25.4 3.3 90.1 -6.9 1.8 10.9 5.9 -0.8 2.6p69.7p41.5 -16.7p1.7 134.8 438.4 CZ-0.8 25.9 1.8 -0.3 -1.1 4.5 74.7 -4.7 5.5 7.0 -3.3 1.5 -1.2 19.7 2.7 -3.1 3.7 77.0 540.6 DK0.2 18.8 3.0 6.3 10.9 -4.9 43.6 0.8 0.7 -7.9 3.1 -1.6 1.0 23.9 5.2 -1.7 4.1 233.8 208.5 DE0.5 20.1 2.9 7.0 3.0 1.8 39.8 -3.6 -1.3 -6.6 -2.5 0.0 -0.7 9.0 -11.1 8.2 5.8 109.5 522.1 EE4.3 28.6 2.1 1.4 -1.1 7.8 94.2 -1.3 5.2 19.6 -1.4 2.0 2.6 74.6 40.7 23.0 2.9 129.2 369.5 IE0.0 19.7 1.6e-2.6 -348.8 24.9 337.3 -3.0 -5.1 -6.2 -3.2 -1.2 0.6 9.9 -1.8 -37.9p1.8 306.9 121.0 EL-7.3p12.6p0.7 -2.6 123.6 0.7 11.5 -4.0p2.0 -16.3 -3.5p-1.6p-1.1p28.3p7.9 -20.4e3.1p131.5p1007.2 ES-2.9 19.8 1.3 0.3 95.7 1.8 53.3 -3.8 0.8 -8.4 -5.4 -1.7 1.1 20.2 2.7 -22.7 4.9 206.6 781.3 FR0.2 22.5 2.2 -1.2 33.8 1.2 40.6 -3.3 -0.5 -8.9 -2.2 -0.3 -0.1 20.9 2.4 10.3 6.2 175.9 405.6 HR-2.2 19.6 0.8 -0.1 59.9 2.6 51.7 -5.6 -2.5 -15.0 2.6 -2.9 1.4d25.9d7.9 -7.6 na142.9 455.1 IT-2.8 18.4 1.3 -0.1 52.3 0.0 23.2 -3.8 1.4 -16.7 -4.2 -0.5 -2.5 26.5 10.1 -2.8e5.0 127.3 1237.7 CY-3.1 15.1 0.4 -5.8 137.2 30.5 866.4 -7.5 2.0 -12.8e-0.8 -5.5 0.1 39.2 17.0 -10.1p4.9 330.4 102.7 LV4.0 25.4 0.7 -0.6 39.5 3.8 49.7 -6.1 -0.7 20.8 -1.3 7.0 2.5 88.5 55.9 1.2 2.2 119.4 684.2 LT3.8 17.4 0.9 1.5 34.0 1.4 38.2 -7.5 1.7 48.2 -1.9 9.6 2.0 35.3 9.4 -1.5 1.9 65.4 617.8 LU-0.4 20.2 1.3b4.7 -2329.9 981.1 6000.7 -6.3 2.8 0.6 4.2 0.0 -2.7 38.2 17.1 13.9 3.2 371.0 60.8 HU-1.6 19.3 1.3 4.3 69.0 8.1 227.1 -6.3 4.4 -11.9 -2.2 -4.6 -1.8 39.5 17.4 -9.2 2.0 118.7 120.5 MT2.6 18.2 0.8 3.2 -479.5 36.1 2052.3 -12.2 1.1 25.6 0.2 4.5 0.1 32.0 13.1 2.7 3.0 221.7 39.0 NL-1.1 18.9 1.9b9.0 52.3 29.8 509.3 -2.6 -0.4 -2.4 -2.3 1.0 -0.9 17.1 1.6 -10.1 3.5 240.5 138.5 AT0.7 22.6 2.9e1.3 25.8 1.3 74.7 -3.9 1.3 -12.3 -3.2 -1.4 -0.4 18.7 2.0 21.1e4.3 143.7 220.4 PL1.6 19.8 0.9 -1.5 34.3 1.5 47.7 -3.4 7.1 13.6 -2.6 1.8 1.5 13.0 -3.6 -7.0e3.2 76.6 307.1 PT-4.0 15.8 1.4 0.3 101.8 10.1 66.7 -4.7 0.9 -6.7 -0.5 0.6 0.1 8.0 -8.7 -11.0 2.9 231.4 388.1 RO0.6 27.3 0.5 -3.4 38.4 1.8 43.2 -3.0 3.2 25.8 6.6 -1.8 5.7b117.6b82.4 -23.0 3.1 72.7 433.2 SI-2.7 19.2 2.6 2.3 45.9 0.1 29.8 -6.7 0.3 -11.5 -4.3 -2.2 -1.8 32.4 12.4 -4.2 2.5 124.3 740.1 SK1.7 21.2 0.8 2.9 22.3 1.9 64.7 -5.9 1.9 0.5 -5.7 6.5 1.6 25.2 7.2 -8.0 2.3 74.9 841.5eFI-1.4 22.3 3.4 -1.8 39.7 1.9 52.0 -2.6 1.6 -23.1 -5.2 -1.6 -2.3 27.1 7.2 12.3 6.3 172.6 518.9 SE-0.3 22.6 3.3e5.4 58.9 0.8 90.9 -1.7 19.1 -9.9 -0.7 -1.8 -1.0 21.2 2.3 12.0 3.4 228.8 238.3 UK1.5 15.6 1.6e-4.3 na1.8 74.2 -1.2 14.4 -11.8 -0.6 -2.6 0.4 28.8 8.7 4.6 3.1 184.0 951.6 Flags:b:Break in series. e:Estimated. p:Provisional. 1)Housepriceindexe=NSIestimatesforPL;e=sourceNCBforEL,ITandAT.2)NominalunitlabourcostandlabourproductivityforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.3)Privatesectordebt:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseries for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014.(cid:9)(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 2.5 (continued): Auxiliary indicators, 2012 

33 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE0.4 66.9 3.4 19.8 12.3 1.2 21.6 1.4 15.3 0.7 6.3 1.1 13.9 1.6 BG-2.5p67.1 6.8 28.1 21.5 2.0 49.3 3.1 21.2 -0.6 44.1 2.2 12.5 5.6 CZ0.4 71.6 3.0 19.5 8.9 0.4 15.4 1.4 9.6 1.0 6.6 0.5 6.8 0.8 DK-0.7 78.6 2.1 14.1 6.6 1.2 17.5 -0.1 12.0 -1.1 2.7 0.4 10.2 1.4 DE1.2 77.2 2.4 8.0 7.1 -1.7 19.6 -0.4 16.1 0.6 4.9 -0.5 9.9 -1.0 EE1.6 74.8 5.5 20.9 12.2 -2.3 23.4 0.0 17.5 -2.2 9.4 3.2 9.1 3.5 IE-0.6 69.2 9.0 30.4 18.7 0.1 30.3 4.6 16.6 1.6 9.8 3.7 23.4 3.4 EL-6.3p67.5 14.5 55.3 20.2 7.8 34.6 7.0 23.1 3.4 19.5 8.5 14.2 7.6 ES-4.0 74.3 11.0 52.9 18.6 0.5 27.2 2.5 20.8 0.4 5.8 1.3 14.3 6.7 FR0.3 70.3 4.1e24.4 12.5 -0.2 19.1 0.6 14.1 1.2 5.3 -0.3 8.4 0.0 HR-3.6d63.9 10.2 42.2 16.6 3.2 32.6 na20.4 na15.9 na16.8 naIT-0.3 63.5 5.6 35.3 21.0 3.4 29.9 5.0 19.5 1.1 14.5 7.2 10.6 1.4 CY-3.2 73.5 3.6 27.7 16.0 6.1 27.1 3.6 14.7 -1.1 15.0 5.5 6.5 2.5 LV1.4 74.4 7.8 28.5 14.9 -2.6 36.2 -1.7 19.2 -7.2 25.6 3.5 11.7 4.3 LT1.8 71.8 6.6 26.7 11.2 -0.9 32.5 2.9 18.6 -1.7 19.8 4.2 11.4 4.2 LU2.4 69.4 1.6 18.0 5.9 0.1 18.4 0.6 15.1 0.2 1.3 0.2 6.1 -0.2 HU0.2 63.7 5.0 28.2 14.8 1.2 33.5 3.9 14.3 1.9 26.3 6.0 13.5 2.2 MT2.5 63.1 3.1 14.1 10.6 0.7 23.1 2.8 15.1 0.2 9.2 4.2 9.0 -0.2 NL-0.2 79.0 1.9 11.7 4.9 0.8 15.0 -0.1 10.1 -1.0 2.3 0.9 8.9 0.4 AT1.0 75.1 1.2 9.4 6.8 -1.4 18.5 -0.6 14.4 -0.1 4.0 -0.6 7.7 0.6 PL0.1 66.5 4.1 26.5 11.8 1.7 26.7 -1.1 17.1 0.0 13.5 -1.5 6.9 0.0 PT-4.1 73.4 7.7 38.0 13.9 2.7 25.3 0.4 17.9 0.0 8.6 -0.5 10.1 3.1 RO-4.8b64.8 3.0 22.6 16.8 2.9 43.2 0.2 22.9 0.8 31.1 -1.0 7.9 -0.2 SI-0.9 70.4 4.3 20.6 9.3 1.8 19.6 2.5 13.5 2.2 6.6 0.5 7.5 1.9 SK0.1 69.4 9.4 34.0 13.8 1.3 20.5 0.9 13.2 2.2 10.5 -0.6 7.2 1.6 FI0.9 75.2 1.6 19.0 8.6 -1.3 17.2 0.3 13.2 -0.6 2.9 0.1 9.3 0.9 SE0.7 80.3 1.5 23.7 7.8 -1.8 15.6 -0.3 14.1 0.8 1.3 -0.3 5.7 -0.7 UK1.1 76.1 2.7 21.2 13.9 0.7 24.1b2.1b16.0 -1.3 7.8 4.5u13.0b0.3bActivity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. e:Estimated. p:Provisional. u:Low reliability. 1) Employment rate for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2012Employment rate(1 year % change) 
 
 
 
 
 
 
 
 
Table 2.6: Auxiliary indicators, 2011 

34 

Year2011Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net external debt(% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Nominal unit labour cost index (2010=100)(10 year % change)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Private sector debt,non-consolidated (% of GDP)Financial sector leverage, non-consolidated(% debt-to-equity)BE1.8 22.6 2.2 -1.2 -118.8 30.3 236.2 -4.6 1.3 0.8 -2.2 -0.2 0.4 18.4 0.8 6.8 5.8 199.6 192.1 BG1.9 20.9 0.5 1.5 29.6 3.7 87.8 -6.3 3.8 21.3 11.5 5.7 4.2 62.0 33.7 -32.4p2.2 133.5 413.0 CZ1.8 26.5 1.6 -1.8 -0.2 1.9 69.6 -4.4 0.8 17.3 -1.7 2.3 2.1 24.0 6.9 -5.5 3.7 74.3 624.5 DK1.3 18.2 2.9 6.9 14.3 3.8 43.9 0.7 1.5 -5.9 2.0 0.3 1.4 26.9 8.1 -11.0 4.3 232.6 209.5 DE3.7 20.3 2.8 6.1 6.7 2.6 35.8 -3.5 -1.0 -0.8 -2.1 1.4 2.3 6.5 -14.0 5.5 5.6 109.5 601.7 EE7.6 26.2 2.3 5.4 6.0 4.9 89.9 -0.4 2.8 35.7 1.0 17.3 1.0 73.2 42.7 -28.0 2.7 132.6 398.6 IE3.0 16.8 1.6e-2.2 -311.3 15.2 304.3 -3.3 -6.6 -2.0 -1.2 -3.7 3.6b10.8b-2.0 -42.0p2.3 297.1 150.1 EL-9.1p15.3p0.7 -8.7 98.8 0.4 12.2 -3.6p4.5 -8.1 -1.5p-6.9p-2.4p42.9p20.0 -13.2e4.6p130.2p3047.9 ES-1.0 21.5 1.3 -2.8 97.0 2.2 51.6 -3.7 0.4 -0.2 -2.9 0.5 1.7 27.4 8.3 -15.3 5.7 214.0 707.2 FR2.1 22.4 2.2 -0.9 28.3 1.5 40.2 -3.0 -0.4 -7.7 -0.7 0.0 1.3 21.5 2.7 4.0 6.4 171.6 454.9 HR-0.3 20.20.8 -0.7 61.7 2.3 49.8 -5.4 -2.0 -8.5 4.4 -4.7 3.7d34.9d14.6 -10.9 na142.4 491.0 IT0.6 19.7 1.2 -2.9 45.8 1.5 21.5 -3.7 0.9 -11.9 -1.7 -1.7 0.3 29.6 12.5 -0.6e5.3 125.3 1221.0 CY0.3 18.9 0.5 -3.7 127.1 -43.5 700.1 -6.8 0.7 -3.5e-0.1 -1.3 0.3 41.8 17.2 -13.3p6.2 327.3 138.0 LV6.4 22.2 0.7 -1.1 47.2 5.3 50.1 -5.5 0.3 38.2 6.3 5.1 4.8 77.5 47.3 -38.4 1.9 131.4 690.8 LT6.0 18.5 0.9 -1.3 32.1 3.5 37.9 -7.6 4.7 41.4 -0.2 8.5 5.5 34.9 10.0 -30.8 2.0 68.5 616.2 LU2.5 19.2 1.5 5.6 -2345.3 679.9 4666.0 -5.9 2.0 5.0 3.0 -2.9 -0.4 36.0 16.2 8.0 3.0 348.7 58.1 HU1.7 19.7 1.2 3.1 68.3 9.9 236.3 -6.0 -2.5 6.6 -0.9 -0.4 1.7 43.2 20.7 -10.7 2.2 130.1 130.3 MT1.4 18.0 0.7 1.2 -495.8 82.0 2024.4 -2.8 1.8 28.4 1.1 -5.2 -1.5 28.7 9.5 -4.6 3.4 227.3 40.9 NL1.7 20.3 1.9b8.8 67.7 37.5 478.0 -1.9 -0.1 0.1 -2.1 -2.5 0.8 19.0 3.7 -8.0 4.2 242.2 152.8 AT2.9 22.5 2.7 1.5 24.0 5.4 72.8 -3.7 1.2 -4.5 -3.1 -1.0 1.3 15.6 -0.4 17.3e4.4 145.5 245.6 PL5.0 20.7 0.8 -3.2 33.6 3.4 47.3 -3.3 -9.6 25.7 0.3 1.0 4.4 7.9 -7.6 -6.4e3.0 76.6 363.9 PT-1.8 18.4 1.5 -4.5 84.5 4.0 54.7 -4.2 -0.5 -0.2 -0.5 0.1 0.1 15.1 -3.8 -5.1 3.3 220.0 408.7 RO1.1 27.1 0.5b-4.4 37.5 1.3 41.4 -2.7 -1.7 63.7 18.6 5.0 1.9 109.7 74.8 -38.2e2.7 73.9 526.1 SI0.6 20.2 2.4b0.0 41.0 1.7 28.7 -6.2 0.4 2.8 -2.4 0.0 2.4 39.2 18.6 -6.9 2.8 125.3 737.8 SK2.8 24.0 0.7 -3.7 21.4 5.6 65.8 -6.4 4.9 6.2 -5.6 5.1 1.0 29.3 11.2 -17.5 2.4 73.2 970.3eFI2.6 22.2 3.6 -1.7 29.1 -2.2 50.6 -3.7 2.1 -16.7 -4.3 -4.9 1.3 22.2 3.2 11.3p6.3 169.2 619.8 SE2.7 22.7 3.3 5.3 62.0 1.1 91.3 -1.8 7.1 -4.1 0.6 -0.8 0.5 17.8 -0.3 14.0 3.9 226.4 267.7 UK1.5 15.4 1.7b-2.4 na1.0 60.8 -1.0 -3.0 -19.0 -2.2 -0.7 0.9 28.2 8.0 -5.1 3.2 183.6 1144.3 Flags:b:Break in series. e:Estimated. p:Provisional. 1)Housepriceindexe=NSIestimatesforPLandRO;e=sourceNCBforEL,IT,andAT.2)NominalunitlabourcostandlabourproductivityforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.3)Privatesectordebt:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthe time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014.(cid:9)(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 2.6 (continued): Auxiliary indicators, 2011 

35 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE1.4 66.7 3.5 18.7 11.8b1.7b21.0 0.2 15.3 0.6 5.7 0.1 13.8 2.1 BG-2.2 65.9b6.3b25.0 21.8 4.4 49.1 4.3b22.2 0.8 43.6 2.4 11.0 2.9bCZ-0.3 70.5b2.7b18.1 8.3b1.6b15.3 0.0 9.8 0.8 6.1 -0.7 6.6 -0.6 DK0.0 79.3 1.8 14.2 6.3 2.0 17.6b1.3b12.1 0.3 2.3 0.3 10.5 2.0 DE1.4 77.3b2.8b8.5 7.5b-0.9b19.9 -0.2 15.8 0.6 5.3 -0.2 11.2 -0.5 EE6.5 74.7 7.1 22.4 11.6 2.9 23.1 1.3 17.5 -2.0 8.7 3.8 10.0 4.7 IE-0.5b69.2 8.6 29.1 18.8 3.8 29.4 5.7 15.2 -0.3 7.8 2.3 24.2 10.5 EL-6.9p67.3 8.8 44.7 17.4 6.0 31.0 2.9 21.4 1.3 15.2 4.0 12.0 4.5 ES-2.7 73.9 8.9 46.2 18.2 3.9 26.7 2.9b20.6 0.8 4.5 0.9 13.4 6.8 FR0.8 69.7 4.0e22.7 12.3 1.8 19.3 0.8b14.0 1.5 5.2 -0.2 9.4 0.6 HR-3.9d64.1 8.4 36.6 16.2 4.6 32.6 na20.9 na15.2 na15.9 naIT0.3 62.1 4.3 29.2 19.7 3.1 28.1 2.6 19.8 0.9 11.1 3.6 10.5 0.1 CY0.0 73.5 1.6 22.4 14.6 4.9 24.6 1.3b14.8 -1.1 11.7 2.6 4.9 0.4bLV1.5 72.8 8.8 31.0 16.0 4.2 40.1 5.9b19.0 -6.9 31.0 11.7 12.6 7.2 LT0.5 71.4 8.0 32.6 11.8 3.0 33.1 4.8 19.2 -1.7 19.0 6.5 12.7 6.6 LU3.0 67.9 1.4 16.4 4.7 -1.5 16.8 1.3 13.6 0.2 1.2 0.5 5.8 1.1 HU0.0 62.4 5.2 26.0 13.2 1.7 31.5 3.3 14.1 1.7 23.4 5.5 12.8 0.8 MT2.9 61.8 3.0 13.3 10.2 1.9 22.1 2.0 15.6 0.3 6.6 2.3 8.9 0.3 NL0.9 78.1b1.6b10.0 4.3 0.9 15.7 0.8 11.0 0.5 2.5 1.0 8.9 0.7 AT1.6 74.6 1.2 8.9 7.3 -0.1 19.2 -1.4b14.5 -0.7 4.0 -1.9 8.6 1.2bPL0.6 65.7 3.6 25.8 11.5 2.5 27.2 -3.3b17.7 0.8 13.0 -4.7 6.9 -1.1 PT-1.9 73.6b6.2b30.2 12.6b2.4b24.4 -1.6 18.0 -0.5 8.3 -1.4 8.3 2.0 RO-0.8 64.1 2.9 23.9 17.5 5.9 40.9 -3.3 22.3 -1.3 29.5 -3.2 7.3 -1.2 SI-1.7 70.3 3.6 15.7 7.1 0.6 19.3 0.8 13.6 1.3 6.1 -0.6 7.6 0.9 SK1.8 68.7b9.2b33.7i13.8b2.7b20.6 0.0 13.0 2.1 10.6 -1.2 7.7 2.5 FI1.3 74.9 1.7 20.1 8.4 0.6 17.9 0.5 13.7 0.1 3.2 -0.3 10.0 2.5 SE2.1 79.9 1.5 22.8 7.5 -0.3 16.1 1.2 14.0 1.8 1.2 -0.2 6.9 1.4 UK0.5 75.5 2.7 21.3 14.2 2.1 22.7 -0.5 16.2 -2.5 5.1 0.6 11.5 1.1 Flags:b:Break in series. e:Estimated. p:Provisional. 1) Youth unemployment rate: for SK i = Eurostat back-calculation to include 2011 Population Census results. 2) Employment rate for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2011Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59 
 
 
 
 
 
 
 
 
Table 2.7: Auxiliary indicators, 2010 

36 

Year2010Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net external debt(% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Nominal unit labour cost index (2010=100)(10 year % change)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Private sector debt,non-consolidated (% of GDP)Financial sector leverage, non-consolidated(% debt-to-equity)BE2.7 21.8 2.1 1.5 -121.2 22.9 223.2 -3.7 1.9 -4.2 -1.7 -2.3 2.1 20.2 1.3 7.2 6.1 189.8 190.2 BG1.3 22.2 0.6 -0.9 37.1 3.6 90.3 -5.7 11.6 16.8 14.0 -1.6 5.4 71.5 39.6 -10.6p2.7 142.3 439.5 CZ2.3 26.9 1.3 -2.6 -1.3 4.9 70.1 -3.5 12.5 20.9 -2.1 2.1 3.3 29.4 10.9 6.6e4.0 72.5 567.4 DK1.9 18.1 2.9 6.6 21.9 -3.6 43.5 0.9 1.7 -3.3 3.3 -9.7 4.3 32.2 11.6 -14.2 3.7 232.7 217.5 DE4.1 19.4 2.7 5.7 3.4 2.5 35.1 -2.9 -1.5 -0.2 -1.0 1.9 3.8 5.7 -16.2 3.3 5.2 114.2 563.2 EE2.3 21.2 1.6 5.3 35.8 13.2 95.0 -1.5 6.4 18.3 3.0 11.4 7.6 80.6 47.6 -40.0 2.7 152.5 397.9 IE1.8 17.6 1.6e-1.9 -277.6 16.8 294.3 -2.8 -5.3 1.4 -4.0 -6.8 6.1 19.7 2.1 -34.9p3.0 281.8 182.9 EL-5.5 17.6 0.6e-10.5 100.8 0.2 13.8 -3.0 5.0 -7.2 -1.0 -7.7 -3.0 47.5 22.6 -6.7e5.0 128.1 1683.0 ES0.0 23.0 1.4 -3.5 93.2 2.8 50.5 -2.9 0.9 -4.4 1.0 -3.2 1.8 32.7 11.4 -9.6 6.9 215.7 647.4 FR2.0 22.1 2.2b-0.8 28.1 1.4 38.0 -2.4 -0.2 -10.7 0.2 -3.6 1.9 23.0 2.6 -0.9 6.3 165.4 348.8 HR-1.4 21.20.7 -1.1 na2.3 53.9 -3.8 4.3 -6.0 5.6 -6.4 2.4d31.9d9.9 -8.4ena143.5 459.0 IT1.7 19.9 1.2 -3.4 47.7 0.4 20.3 -3.2 0.7 -12.4 -2.1 -0.8 2.3 32.9 13.7 1.3be5.6 125.8 905.2 CY1.3 22.3 0.5 -11.0 70.9 53.3 773.4 -6.0 0.4 -9.0e0.2 -8.1 0.8 42.5 15.8 -6.9p8.1 320.6 121.3 LV-3.9 19.4 0.6 4.0 55.7 1.9 49.7 -4.9 8.3 31.6 2.6 0.8 2.9 80.5 48.6 -43.6 1.6 151.1 795.3 LT1.6 16.9 0.8 2.5 35.8 2.3 38.6 -7.1 9.9 28.7 -2.2 6.3 7.3 29.4 4.6 -29.3 2.1 78.3 605.9 LU4.9 17.6 1.5 6.2 -2972.4 423.7 3640.8 -4.8 1.7 11.7 4.6 -2.2 3.0 41.4 17.1 7.7 2.9 342.9 48.3 HU0.7 20.2 1.1 2.1 49.7 -16.0 214.3 -5.1 0.0 11.8 -0.8 -1.3 1.8 56.6 31.3 -5.3 3.1 129.3 121.1 MT3.5 21.4 0.6 -2.7 -490.7 106.3 1859.2 1.1 3.5 49.1 1.6 -5.7 1.8 30.4 9.8 7.4 3.4 218.3 45.9 NL1.4 19.7 1.7 6.6 71.9 14.6 436.6 -1.5 -1.0 -0.6 -0.4 -2.1 2.1 21.3 4.3 -4.0 4.7 240.2 161.9 AT1.8 21.6 2.7e2.9 28.0 -5.4 74.8 -2.9 0.1 -5.5 -2.5 0.5 1.1 15.9 -1.2 11.5be4.3 147.6 229.2 PL3.6 20.3 0.7 -3.6 31.1 3.7 48.4 -2.6 -0.2 34.9 1.7 0.5 6.4b13.7b-3.3 na3.2 72.7 298.8 PT1.9 20.5 1.5 -8.8 81.2 3.5 56.4 -3.4 -2.1 0.7 2.1 -3.1 3.4 22.0 0.5 3.6e3.6 215.9 296.8 RO-0.8 25.9 0.5 -4.9 35.7 2.0 41.4 -2.2 -9.2 65.9 23.2 2.6 -0.5 223.4 166.5 na2.9 74.9 530.6 SI1.2 21.3 2.1 0.0 43.9 0.6 27.0 -5.0 3.2 6.4 -1.6 -2.4 3.4 53.0 29.3 -3.0 3.1 125.3 654.6 SK5.0 22.1 0.6 -3.2 20.6 2.3 62.5 -5.7 12.7 12.4 -5.7 3.1 6.7 31.7 12.4 -1.2 2.6 69.6 986.2eFI3.0 21.9 3.7 1.3 24.8 4.9 54.7 -2.8 1.9 -12.9 -5.8 -6.4 3.7 22.4 2.3 8.7p6.1 170.0 408.4 SE6.0 22.3 3.2e5.8 61.8 0.2 92.9 -1.6 -1.2 -5.6 1.2 -0.7 5.0 20.3 0.8 12.4 3.6 222.0 237.1 UK1.7 15.3 1.7e-3.8 na2.7 60.0 -0.4 -16.9 -17.4 -1.5 -6.7 1.4 33.3 10.8 -8.0 3.1 189.9 963.9 Flags:b:Break in series. e:Estimated. p:Provisional. 1)Housepriceindexe=NSIestimatesforCZ;e=sourceNCBforEL,HR,IT,PT,andAT.2)NominalunitlabourcostandlabourproductivityforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.3)Privatesectordebt:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthe time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014.(cid:9)(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 2.7 (continued): Auxiliary indicators, 2010 

37 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE0.6 67.7 4.0 22.4 10.9 -0.3 20.8 -0.8 14.6 -0.6 5.9 0.2 12.7 -1.1 BG-3.9 66.7b4.7b21.9i21.0b1.9b49.2 -11.5 20.7 -1.3 45.7 -11.9 8.0 -8.0 CZ-1.0 70.2 3.0 18.3 8.8 1.9 14.4 -1.4 9.0 -0.6 6.2 -1.2 6.4 -2.2 DK-2.3 79.4 1.5 13.9 6.0 1.7 18.3 1.5 13.3 1.6 2.7 -0.6 10.6 0.5 DE0.3 76.7b3.3b9.8 8.3b-0.6b19.7 -0.9 15.6 0.4 4.5 -0.3 11.2 -0.3 EE-4.9 73.9 7.6 32.9 14.0 5.1 21.7 -0.3 15.8 -3.6 9.0 3.4 9.0 2.8 IE-4.1 69.4 6.8 27.6 19.2 8.4 27.3 4.2 15.2 -2.0 5.7 1.2 22.9 8.6 EL-2.6 67.8 5.7 33.0 14.8 3.5 27.7 -0.6 20.1 -0.2 11.6 0.1 7.6 -0.5 ES-1.7 73.5 7.3 41.5 17.8 5.8 26.1 2.8 20.7 1.0 4.9 1.4 10.8 4.0 FR0.1 69.8 3.9e23.3 12.7 2.0 19.2 0.2 13.3 0.2 5.8 1.1 9.9 0.3 HR-3.8d65.1 6.6 32.3 15.7 2.8 31.1 na20.6 na14.3 na13.9 naIT-0.6 62.0 4.0 27.9 19.0 2.9 25.0 -1.0 18.7 -0.8 7.4 0.4 10.6 0.4 CY0.5 73.6 1.3 16.6 11.7 2.7 24.6 -0.6 15.6 0.1 11.2 -2.1 4.9 1.2 LV-6.7 73.0 8.8 36.2 17.8 5.9 38.2 3.1 20.9 -0.3 27.6 3.6 12.6 6.4 LT-5.3 70.2 7.4 35.7 13.2 6.1 34.0 5.3 20.5 1.4 19.9 3.3 9.5 3.1 LU1.8 68.2 1.3 15.8 5.1 -0.6 17.1 1.2 14.5 1.0 0.5 -0.3 5.5 0.5 HU-1.1 61.9 5.5 26.4 12.6 1.1 29.9 0.5 12.3 0.0 21.6 1.7 11.9 0.6 MT1.7 60.4 3.1 13.2 9.5 -2.0 21.2 1.5 15.5 0.4 6.5 2.1 9.2 -0.4 NL-0.7 78.2b1.2b11.1 4.3b0.8b15.1 -0.6 10.3 0.1 2.2 0.5 8.4 -1.3 AT0.8 74.4 1.2 9.5 7.4 0.0 18.9 2.2 14.7 2.7 4.3 1.0 7.8 -0.4 PL-2.7b65.3b3.0b23.7 10.8b0.2b27.8 -6.6 17.6 0.3 14.2 -8.1 7.3 -2.8 PT-1.4 73.7 5.7 28.2 11.4 0.2 25.3 0.3 17.9 -0.2 9.0 -0.6 8.6 1.4 RO-0.3 64.9b2.4b22.1 16.6b3.3b41.5 -5.5 21.6 -3.0 30.5 -7.5 7.7 -2.2 SI-2.1 71.5 3.2 14.7 7.1 0.4 18.3 1.2 12.7 1.2 5.9 0.8 7.0 -0.3 SK-1.5 68.7 9.2 33.9 14.1 1.6 20.6 -0.8 12.0 1.4 11.4 -2.3 7.9 1.5 FI-0.7 74.5 2.0 21.4 9.0 2.0 16.9 -0.5 13.1 0.1 2.8 -0.8 9.3 0.5 SE1.0 79.1 1.6 24.8 7.7 0.2 15.0 1.1 12.9 2.4 1.3 -0.9 6.0 0.0 UK0.2 75.4 2.5 19.9 13.6 1.7 23.2 0.6 17.1 -1.5 4.8 0.6 13.2 2.8 People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. e:Estimated. 1) Youth unemployment rate: for BG i = Eurostat back-calculation to include 2011 Population Census results. 2) Employment rate for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2010Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
Table 2.8: Auxiliary indicators, 2009 

38 

Year2009Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net external debt(% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Nominal unit labour cost index (2010=100)(10 year % change)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Private sector debt,non-consolidated (% of GDP)Financial sector leverage, non-consolidated(% debt-to-equity)BE-2.3 22.6 2.0 -1.3 -105.2 17.0 208.2 -3.2 0.6 -1.3 -0.8 0.6 -2.1 21.5 0.2 12.0 6.1 202.8 203.1 BG-3.6 27.9 0.5 -7.0 na7.5 na-5.0 15.9 29.2 12.0 -1.7 -1.9 68.1 34.4 28.2p4.7 143.9 385.9 CZ-4.8 27.1 1.3 -1.0 -2.4 2.5 66.2 -2.7 10.5 37.9 -2.4 0.2 -3.1 32.1 10.7 29.5e3.8 70.6 642.9 DK-4.9 20.2 3.1 3.4 28.6 1.2 46.8 1.0 0.4 7.2 2.7 0.8 -1.8 33.7 10.4 -14.3 4.2 240.7 248.9 DE-5.6 19.2 2.7 5.7 1.0 1.6 34.2 -2.5 -1.1 1.2 -0.4 -4.3 -5.7 7.6 -16.5 0.0 5.1 120.0 602.7 EE-14.7 22.7 1.4 6.0 53.4 9.1 89.1 -2.3 8.9 26.1 7.0 -10.3 -5.0 92.6 53.3 -31.5 3.1 167.2 463.7 IE-4.6 21.1 1.6e-5.6 -202.4 22.8 267.4 -2.3 -1.6 10.5 0.8 14.6 3.5 35.5 13.4 -19.1 4.7 281.1 231.9 EL-4.3 20.8 0.6e-11.5 84.2 0.8 13.8 -2.2 2.5 -2.8 -2.3 -8.5 -3.8 48.2 20.8 3.7e6.5 116.8 954.9 ES-3.6 24.3 1.4 -4.0 89.2 0.9 49.0 -2.3 1.1 -1.3 4.3 -1.0 2.9 38.2 13.9 1.1 8.1 214.3 572.6 FR-2.9 22.0 2.2 -0.7 25.3 0.7 37.0 -2.0 -1.2 -7.2 0.2 -1.3 -1.8 23.3 0.3 0.0 6.3 165.2 338.3 HR-7.4 25.2 0.8 -5.1 na5.0 50.9 -3.5 3.9 2.8 5.2 -4.1 -6.7dna10.8 9.5ena133.3 483.2 IT-5.5 20.0 1.2 -1.9 41.2 0.9 22.1 -2.6 0.4 -10.9 -1.3 -8.1 -3.9 33.6 11.4 7.2e5.6 125.0 694.4 CY-1.8 23.4 0.4 -7.3 70.0 10.8 711.8 -4.6 -1.3 -1.5e-1.2 5.9 -1.8 45.5 16.2 10.3 9.8 310.9 147.6 LV-14.4 22.5 0.5 10.2 58.6 -0.2 46.3 -4.4 18.9 65.5 1.5 -2.9 -0.1 99.6 60.2 -13.6 2.4 145.5 831.3 LT-14.8 17.9 0.8 5.7 37.8 0.1 37.0 -4.1 12.9 41.9 -1.3 -2.8 -7.7 27.8 0.2 -3.5 3.3 86.7 783.0 LU-4.4 18.4 1.7 6.1 -2686.1 410.6 3505.4 -4.1 0.9 21.3 3.6 -1.6 -5.4 46.8 17.0 9.3e3.5 377.8 55.3 HU-6.6 22.7 1.1 0.9 78.4 -2.6 226.9 -4.9 5.3 22.4 -2.6 -1.4 -4.2 75.1 45.9 na4.1 131.2 136.9 MT-2.5 18.2 0.5 -5.4 -334.8 16.8 1698.3 -0.1 1.5 58.1 1.0 9.6 -2.5 na6.6 28.6 4.3 217.0 50.1 NL-3.8 21.3 1.7 5.6 63.7 11.1 422.0 -0.7 -1.1 2.6 1.0 1.1 -2.9 27.1 7.1 2.4 5.6 239.9 172.7 AT-3.8 22.4 2.6 2.6 20.6 3.4 81.1 -2.4 -0.3 1.9 -1.7 -4.4 -3.3 15.7 -3.2 9.9e4.3 145.3 237.3 PL2.8 21.4 0.7 -2.3 30.1 3.2 40.4 -2.2 -6.2 45.8 4.5 4.1 2.4 na-3.7 na3.4 69.5 339.9 PT-3.0 21.1 1.6 -9.3 82.9 2.3 53.6 -2.8 -1.7 -0.3 2.3 -0.2 -0.3 28.9 3.9 4.2e4.1 217.0 267.1 RO-7.1 26.0 0.5 -4.3 33.0 2.8 40.7 -1.6 -6.5 83.7 25.5 4.7 -5.2 420.7 322.1 na2.9 120.8 560.8 SI-7.8 24.3 1.8 -0.5 40.7 -0.7 26.1 -3.9 3.9 18.8 0.4 -6.6 -6.1 63.4 35.8 19.8e3.8 124.1 666.2 SK-5.4 21.7 0.5 -2.7 22.4 1.9 64.3 -4.4 24.7 18.8 -5.3 -6.8 -3.5 46.1 22.4 32.7 3.0 71.1 1141.3eFI-8.3 22.8 3.8 2.0 20.9 -3.3 50.7 -2.4 0.8 -5.6 -7.1 -10.1 -6.0 24.8 1.9 8.3p5.2 165.9 372.0 SE-5.2 22.3 3.5 5.9 72.0 2.1 100.9 -1.2 -12.1 -8.8 -0.2 -4.5 -2.8 29.0 5.7 17.1 3.3 235.3 278.0 UK-4.2 15.3 1.7e-3.9 na0.4 57.6 -0.4 -21.6 -13.2 -4.0 1.3 -2.6 35.1 9.6 -4.4 3.0 195.8 1010.2 Flags:e:Estimated. p:Provisional. 1)Housepriceindexe=NSIestimatesforCZandSI;e=sourceNCBforEL,HR,IT,PT,andAT;e=NSI&NCBestimatesforLU.2)LabourproductivityforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.3)Privatesectordebt:duetoimprovedsourcesandmethods,therearesignificantrevisions in the time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014.(cid:9)(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 2.8 (continued): Auxiliary indicators, 2009 

39 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE-0.2 66.9 3.5 21.9 11.1 -0.1 20.2 -1.3 14.6 -0.1 5.2 -1.2 12.3 -2.0 BG-1.7 67.2 3.0 15.1 19.5 -2.7 46.2 -15.1 21.8 3.4 41.9 -15.8 6.9 -7.8 CZ-1.8 70.1 2.0 16.6 8.5 -0.7 14.0 -4.0 8.6 -1.3 6.1 -3.5 6.0 -2.9 DK-3.2 80.2 0.6 11.8 5.4 1.8 17.6 0.9 13.1 1.4 2.3 -0.8 8.8 -0.8 DE0.1 76.3 3.5 11.1 8.8 -0.8 20.0 -0.2 15.5 3.0 5.4 0.3 10.9 -2.7 EE-10.2 74.0 3.7 27.4 14.5b5.7b23.4 1.4 19.7 1.4 6.2 -0.8 5.6 -1.5 IE-7.8 70.6b3.5b24.0 18.6b8.5b25.7 2.4 15.0 -3.5 6.1 1.3 20.0 7.1 EL-0.6 67.4b3.9b25.7 12.4b0.4b27.6 -1.7 19.7 -0.8 11.0 -0.5 6.6 -1.5 ES-6.3 73.1 4.3 37.7 18.1 6.3 24.7 0.7 20.4 0.1 4.5 0.4 7.6 1.2 FR-1.1 69.8 3.3e23.6 12.7 1.4 18.5 -0.3 12.9 -0.3 5.6 0.6 8.4 -0.7 HR-0.7d65.6 5.1 25.4 13.4 -0.8 nanananananananaIT-1.7 62.3 3.4 25.3 17.6 0.8 24.9 -1.0 18.4 -0.9 7.3 0.9 9.2 -2.1 CY0.0 73.0b0.6b13.8 9.9b-0.8b23.5 -1.9 15.8 0.2 9.5 -3.1 4.0 0.2 LV-14.3 73.5 4.5 33.3 17.5 6.0 37.9 -4.3 26.4 2.9 22.1 -9.2 7.4 0.3 LT-7.7 69.6 3.3 29.6 12.1 3.8 29.6 -6.3 20.3 0.3 15.6 -9.7 7.2 -1.1 LU1.0 68.7b1.2b16.5 5.8b-0.9b17.8 1.3 14.9 0.8 1.1 0.0 6.3 1.1 HU-2.5 61.2 4.2 26.4 13.6 1.2 29.6 -1.8 12.4 -3.5 20.3 -0.6 11.3 -1.8 MT0.0 59.4 2.9 14.5 9.9 -0.4 20.3 0.8 14.9 0.7 5.0 1.1 9.2 -0.5 NL-0.9 79.7 0.8 10.2 4.1 0.1 15.1 -0.9 11.1 1.4 1.4 -0.9 8.5 -2.4 AT-0.5 74.3 1.2 10.7 8.2 0.4 19.1 1.3 14.5 1.9 4.6 1.0 7.1 -1.0 PL0.4 64.7 2.5 20.6i10.1 -2.5 27.8 -11.7 17.1 -2.0 15.0 -12.6 6.9 -5.5 PT-2.7 73.4 4.2 25.3 11.2 0.6 24.9 -0.1 17.9 -0.6 9.1 0.0 7.0 0.4 RO-2.0 63.1 2.2 20.0 13.9 -0.9 43.0 na22.1 4.1 32.1 na8.1 naSI-1.8 71.8 1.8 13.6 7.5 -1.0 17.1 0.0 11.3 -0.3 6.1 1.0 5.6 -1.3 SK-2.0 68.4 6.5 27.6 12.5 -1.9 19.6 -7.1 11.0 -0.6 11.1 -7.1 5.6 -0.6 FI-2.4 75.0 1.4 21.5 9.9 2.2 16.9 -0.2 13.8 1.2 2.8 -0.5 8.4 -0.7 SE-2.4 78.9 1.1 25.0 9.6 0.3 15.9 -0.4 13.3 1.0 1.6 -0.5 6.4 -0.4 UK-1.6 75.7 1.9 19.1 13.2 4.6 22.0 -1.7 17.3 -1.7 3.3u-1.2u12.7 0.7 Flags:b:Break in series. e:Estimated. u:Low reliability. 1) Youth unemployment rate: for PL i = Eurostat back-calculation to include 2011 Population Census results. 2) Employment rate for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatPeople living in households with very low work intensity -% of total population aged 0-59Year2009Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total population 
 
 
 
 
 
 
 
 
Table 2.9: Auxiliary indicators, 2008 

40 

Year2008Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net external debt(% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Nominal unit labour cost index (2010=100)(10 year % change)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Private sector debt,non-consolidated (% of GDP)Financial sector leverage, non-consolidated(% debt-to-equity)BE0.8 24.0 1.9 -1.5 -85.7 38.4 192.0 -5.3 1.2 -0.9 -4.7 -1.2 -1.0 19.2 1.9 23.5 6.5 190.5 238.3 BG6.0 33.0 0.5 -21.2 na17.9 na-8.0 19.5 50.9 13.0 -0.4 3.6 65.7 38.2 84.8p5.8 136.8 431.9 CZ2.7 29.0 1.2 -1.2 -4.7 3.7 60.3 -4.1 22.8 70.3 -3.3 1.3 0.5 31.9 14.8 45.0e4.0 67.6 759.0 DK-0.5 22.9 2.8 2.9 29.8 0.5 44.6 1.6 -0.6 6.8 3.3 1.0 -1.7 30.1 11.3 20.8 5.4 231.4 316.4 DE1.1 20.3 2.6 5.6 5.9 0.8 31.9 -3.4 -1.3 6.3 -4.6 -1.0 -0.2 2.1 -18.8 -1.2 5.0 116.3 758.1 EE-5.4 31.2 1.3 -7.5 54.3 8.0 77.1 -4.1 12.1 52.4 7.4 -2.0 -5.2 97.0 60.5 63.2 4.3 161.6 433.4 IE-3.9 24.8 1.4 -6.8 -153.2 7.9 209.0 -3.1 1.1 -7.3 -3.2 -6.7 -3.3 43.3 24.2 14.9 8.2 254.8 276.7 EL-0.3 23.8 0.7be-13.4 73.2 1.4 12.0 -3.8 2.8 16.7 -1.7 0.6 -1.6 43.0 20.9 22.0e8.1 113.4 1196.7 ES1.1 29.2 1.3 -8.8 78.1 4.8 45.1 -3.6 3.1 -4.6 -1.2 -3.7 0.9 38.9 18.2 22.7e10.4 209.3 615.8 FR0.2 23.6 2.1 -0.9 22.7 2.3 34.2 -2.8 -1.2 -9.6 -3.2 -2.5 -0.3 20.2 1.0 19.6 6.8 157.4 414.3 HR2.1 28.1 0.9 -9.0 na7.6 42.2 -5.1 6.0 4.9 6.7 -2.1 -0.1dna15.0 35.7ena120.3 481.3 IT-1.1 21.2 1.2 -2.8 37.0 -0.5 18.8 -3.6 0.0 -6.4 -8.0 -6.0 -1.3 30.0 11.3 13.9e5.8 116.3 764.1 CY3.9 27.2 0.4 -15.3 58.3 8.7 701.6 -6.4 -0.7 -16.9e0.1 -3.6 0.3 37.2 13.5 32.1 12.1 289.5 127.6 LV-3.5 32.1 0.6 -11.0 53.9 3.7 36.0 -5.5 21.5 96.7 3.9 -0.5 -2.7 132.8 92.4 113.8e6.1 120.7 985.8 LT2.6 26.0 0.8 -11.7 35.3 4.0 29.9 -5.7 10.4 59.2e11.5 10.6 4.0 31.8 5.3 76.7e3.4 81.9 1008.0 LU-1.3 20.3 1.6 6.9 -2139.8 182.4 2968.2 -6.6 2.1 28.8 1.8 2.6 -5.8 37.9 12.4 22.9e4.4 326.7 69.8 HU0.9 23.2 1.0 -5.8 67.1 47.6 218.0 -6.2 8.5 39.4 -4.0 4.0 2.9 81.2 56.8 na4.1 119.4 136.4 MT3.3 19.6 0.5 -0.7 -428.8 164.7 1636.5 -2.3 0.6 23.4 0.0 16.5 0.8 na4.8 61.1 5.6 195.9 50.1 NL1.7 22.3 1.6 5.0 59.8 17.8 404.8 -0.7 -2.3 4.5 -0.2 -1.1 0.1 22.4 7.0 11.7 6.2 222.2 219.2 AT1.5 23.3 2.6e4.4 23.2 1.5 72.7 -3.5 -0.7 6.3 -4.0 -0.7 -0.4 10.0 -4.5 10.1e4.4 142.7 290.2 PL4.2 23.1 0.6 -5.6 28.3 2.7 39.7 -3.0 14.5 68.4e4.5 4.2 0.4 na3.9 na3.8 69.7 407.9 PT0.2 22.8 1.5b-10.9 74.6 3.0 47.6 -4.6 0.0 -1.1 -2.9 -3.2 -0.2 29.1 6.9 7.3be4.7 208.2 266.0 RO8.5 38.4 0.6 -11.4 27.7 6.5 35.9 -2.8 9.9 113.6 28.9 -6.1 8.4 604.8 492.6 na3.1 112.9 674.2 SI3.3 29.6 1.6b-5.4 34.5 2.0 25.0 -6.2 3.9 29.5 -4.1 1.3 0.7 57.5 36.0 54.5e4.6 114.6 680.5 SK5.6 25.5 0.5 -5.3 17.7 4.9 60.5 -5.9 26.7 46.8e-4.5 0.1 2.3 43.1 24.5 na2.5 66.1 1148.8eFI0.7 24.4 3.6 2.3 8.9 7.0 50.9 -3.3 -1.3 6.5 -10.2 3.7 -1.5 16.7 -1.6 14.2p5.9 156.6 451.4 SE-0.6 24.3 3.5e7.7 66.2 8.3 91.5 -1.9 -4.6 3.7 -2.3 -0.9 -1.4 23.8 5.1 27.9 3.9 217.9 372.5 UK-0.5 17.0 1.6e-4.6 na9.1 60.1 -0.7 -13.5 -13.9 -4.0 -2.3 -1.3 32.7 10.7 13.2 3.6 196.9 1778.4 Flags:b:Break in series. e:Estimated. p:Provisional. 1)Housepriceindexe=EurostatestimatesforES,LV,LT;e=NSIestimatesforCZandSI;e=sourceNCBforEL,HR,IT,AT,andPT;e=sourceNSI&NCBforLU.2)LabourproductivityforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.3)Privatesectordebt:duetoimprovedsourcesand methods, there are significant revisions in the time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014.(cid:9)(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 2.9 (continued): Auxiliary indicators, 2008 

41 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE1.8 67.1 3.3 18.0 10.1 -2.9 20.8 -1.8 14.7 -0.1 5.6 -0.9 11.7 -3.4 BG2.4 67.8 2.9 11.9 17.4b-7.7b44.8bna21.4 7.4 41.2 na8.1bnaCZ2.2 69.7 2.2 9.9 6.7 -6.6 15.3 -4.3 9.0 -1.4 6.8 -5.0 7.2 -1.7 DK1.2 80.7 0.5 8.0 4.3 0.0 16.3 -0.9 11.8 0.0 2.0 -1.2 8.5 -1.6 DE1.3 75.9 3.9 10.4 8.4b-2.5b20.1 1.7 15.2 3.0 5.5 0.9 11.7 -0.3 EE-0.2 74.2 1.7 12.0i8.7 -1.9 21.8 -4.1 19.5 1.2 4.9 -7.5 5.3 -4.2 IE-0.6 72.1 1.7 13.3 15.0 4.1 23.7 -1.3 15.5 -4.2 5.5 0.4 13.7 -1.0 EL1.3 66.7 3.7 21.9 11.4b-4.5b28.1 -1.3 20.1 0.5 11.2 -1.6 7.5 -0.1 ES0.2 72.7 2.0 24.5 14.3 1.3 23.8b-0.5b19.8 -0.3 3.6 -0.5 6.6 -0.3 FR0.5 69.4 2.9e19.0 10.5 -0.7 18.5b-0.4b12.5 -0.5 5.4 0.1 8.8 0.1 HR2.1d65.8 5.3 23.6 11.6 -5.1 nanananananananaIT0.2 62.9 3.0 21.2 16.6 -0.5 25.5 -0.1 18.9 -0.3 7.5 0.7 10.4 -0.6 CY3.5 73.6 0.5 9.0 9.7 -9.8 23.3b-2.0b15.9 -0.2 9.1 -3.1 4.5b0.1bLV-0.8 74.2 1.9 13.6 11.8 1.2 34.2b-12.1b25.9 6.5 19.3 -20.0 5.4 -2.9 LT-1.3 68.4 1.3u13.3 8.8 0.0 28.3 -12.7 20.9 0.4 12.5 -20.1 6.1 -3.5 LU4.8 66.8 1.6 17.3 6.2 0.7 15.5 -1.8 13.4 -0.3 0.7 -1.1 4.7 -1.0 HU-2.0 61.2 3.6 19.5i11.5 -1.4 28.2 -3.9 12.4 -1.1 17.9 -5.0 12.0 2.5 MT2.5 59.1 2.6 11.7 8.3 -3.6 20.1 -0.4 15.3 1.0 4.3 -1.1 8.6 -1.0 NL1.6 79.3 0.9 8.6 3.4 -1.9 14.9 -1.8 10.5 -0.2 1.5 -1.0 8.2 -1.6 AT1.9 73.9 1.0 8.5 7.4 -1.2 20.6b3.2b15.2 2.6 5.9 2.4 7.4b0.1bPL3.8 63.8 2.4 17.2 9.0b-4.9b30.5b-14.8b16.9 -3.6 17.7 -16.1 8.0 -6.3 PT0.4 73.9 3.6 21.6 10.2 -0.9 26.0 -0.1 18.5 -0.9 9.7 0.4 6.3 0.3 RO0.0 62.9 2.4 17.6 11.6 -5.2 44.2 na23.6 6.6 32.7 na8.5 naSI2.6 71.8 1.9 10.4 6.5 -2.4 18.5 0.0 12.3 0.1 6.7 1.6 6.7 -1.9 SK3.2 68.8 6.6 19.3 11.1 -4.7 20.6 -11.4 10.9 -2.4 11.8 -10.3 5.2 -1.4 FI2.2 76.0 1.2 16.5 7.8 0.0 17.4 0.2 13.6 1.9 3.5 -0.3 7.5 -2.5 SE0.9 79.3 0.8 20.2 7.8b-2.7b14.9 0.5 12.2 2.7 1.4 -0.9 5.5 -2.1 UK0.8 75.8b1.4 15.0 12.1b3.7b23.2 -1.6 18.7 -0.3 4.5 -0.8 10.4 -2.5 Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. e:Estimated. u:Low reliability. 1) Youth unemployment rate: for EE and HU i = Eurostat back-calculation to include 2011 Population Census results. 2) Employment rate for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2008Employment rate(1 year % change) 
 
 
 
 
 
 
 
 
Table 2.10: Auxiliary indicators, 2007   

42 

Year2007Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D (% of GDP)Current plus capital account (Net lending-borrowing)(% of GDP)Net external debt(% of GDP) Foreign direct investment in the reporting economy - flows(% of GDP) Foreign direct investment in the reporting economy - stocks(% of GDP)Net trade balance of energy products(% of GDP)Real effective exchange rate - Euro Area trading partners(3 year % change)Export performance against advanced economies(5 year % change)Terms of trade(5 year % change)Export market share in volume(1 year % change)Labour productivity(1 year % change)Nominal unit labour cost index (2010=100)(10 year % change)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Private sector debt,non-consolidated (% of GDP)Financial sector leverage, non-consolidated(% debt-to-equity)BE3.4 23.2 1.8 1.6 -45.3 19.8 154.6 -3.6 0.4 2.4 -2.5 -2.2 1.8 15.1 1.4 33.3e6.3 169.5 194.5 BG7.3 28.3 0.4 -25.7 na28.0 na-7.3 14.4 59.9 15.4 11.7 4.0 123.5 92.1 102.0e5.0 125.0 215.0 CZ5.6 29.5 1.3 -4.0 -7.4 7.0 58.1 -3.2 14.4 73.9 -2.0 3.1 3.4 36.2 21.8 30.5e4.1 61.8 648.5 DK0.9 23.5 2.5b1.5 32.3 3.7 47.1 1.8 -1.3 3.2 2.3 -4.2 -1.4 27.0 12.3 49.8e6.5 220.6 204.7 DE3.3 20.1 2.5 6.7 3.8 1.5 33.7 -2.4 -0.7 12.1 -1.9 1.4 1.5 -0.1 -17.5 -1.4e5.1 117.1 515.8 EE7.7 36.6 1.1 -13.8 48.5 13.5 75.0 -3.6 8.5 69.0 9.0 4.7 7.5 80.9 54.2 na6.1 152.4 397.5 IE5.2 28.7 1.2 -6.4 -203.9 22.9 192.1 -2.4 1.4 -3.4 -5.2 1.0 0.8 na24.1 35.4e11.1 200.9 190.1 EL3.3 26.0 0.6e-13.3 66.1 0.7 16.1 -2.9 3.3 20.0 1.1 2.7 1.9 44.5 26.5 33.0e10.8 101.8 308.2 ES3.8 31.0 1.2 -9.3 71.5 4.8 44.7 -3.0 3.5 4.5 2.6 0.4 0.5 33.8 17.2 41.4e11.7 205.5 403.6 FR2.4 23.1 2.0 -0.2 13.0 3.2 34.8 -2.2 -1.4 -8.9 -2.6 -5.1 0.9 16.5 1.2 36.8b6.7 150.5 293.0 HR5.2 26.8 0.8 -7.2 na7.8 64.5 -3.9 4.4 23.9 7.9 -4.5 1.9pna29.5 46.8ena111.6 237.6 IT1.5 21.6 1.1 -1.3 na3.0 21.4 -2.9 -0.1 0.0 -4.4 -1.7 0.2 22.6 7.7 19.5e5.8 112.7 354.1 CY4.8 25.5 0.4 nananana-5.1 -0.4 -10.7e3.3 -2.6 0.4 32.4 13.0 32.8e12.3 270.0 360.1 LV10.0 36.4 0.6 -18.9 46.1 8.8 35.3 -4.3 10.8 114.6 7.8 5.9 5.9 96.2 69.0 162.1e7.2 116.1 1007.6 LT11.1 28.6 0.8 -13.4 28.1 5.8 36.6 -4.2 4.6 43.3e7.6 -4.7 8.9 28.2 7.4 103.7e2.8 80.7 774.3 LU8.4 18.4 1.6e9.3 -2587.1 372.8 2757.4 -5.3 3.0 37.8 1.5 0.2 3.8 25.8 5.9 32.5be4.0 331.7 59.7 HU0.4 23.6 1.0 -6.4 26.3 49.6 176.7 -4.6 8.9 41.3 -3.1 8.2 0.3 94.0 73.0 na4.0 109.0 117.5 MT4.0 22.4 0.6 -0.7 -385.9 451.2 1549.3 -1.5 -0.7 na2.1 3.0 1.7 na4.5 56.2e7.4 180.5 48.7 NL3.7 21.8 1.7 5.3 46.4 85.9 409.0 -1.2 -1.8 7.0 0.4 -2.3 0.7 19.8 8.4 14.5e6.3 220.9 218.2 AT3.7 22.9 2.4 3.8 15.4 17.3 74.9 -2.8 -0.6 11.5 -2.0 -0.3 1.9 6.2 -4.9 14.4e4.3 140.5 204.6 PL7.0 22.5 0.6 -5.3 19.7 5.8 38.4 -2.6 18.9 70.9e5.5 2.1 2.4 na9.5 na3.7 56.8 211.8 PT2.5 22.5 1.1 -8.6 64.7 2.5 51.0 -3.6 0.6 6.2 -0.5 -0.6 2.5 30.4 11.8 5.8e5.2 196.7 216.5 RO6.9 36.0 0.5 -13.2 20.4 5.9 36.7 -2.6 38.9 102.1 26.9 -0.1 6.5 948.0 812.2 na2.4 106.1 510.7 SI6.9 28.8 1.4 -4.3 24.2 2.3 24.0 -4.7 2.0 35.7 -2.3 5.7 3.5 55.5 38.9 65.2e4.2 104.0 447.4 SK10.8 26.8 0.5 -5.1 12.9 6.5 64.2 -4.9 21.7 83.9e-3.3 6.7 8.5 44.4 29.8 na2.5 61.2 998.4eFI5.2 24.2 3.4 3.9 -0.2 8.5 46.4 -2.5 -3.0 4.7 -9.7 1.2 3.0 11.6 -2.8 22.5e6.5 145.2 251.8 SE3.4 23.9 3.3 8.1 45.1 9.4 81.3 -1.6 -3.6 11.2 -1.8 -3.4 1.1 13.0 -0.9 38.8e4.3 190.9 219.0 UK2.4 17.7 1.6 -3.8 na6.8 51.3 -0.4 -0.6 -6.7 0.3 -9.4 1.5 35.7 16.8 32.4e3.8 188.0 885.2 Flags:b:Break in series. e:Estimated. p:Provisional. 1)Housepriceindex:e=EurostatestimatesforES,CY,LV,LT,MT;e=NSIestimatesforBG,CZ,DK,DE,IE,NL,SI,FI,SEandUK;e=sourceNCBforEL,HR,IT,LU,ATandPT;e=NSI&NCBestimatesforLU.2)Privatesectordebt:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetime series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014. (cid:9)(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 2.10 (continued): Auxiliary indicators, 2007 

43 

%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in pp%3 year change in ppBE1.7 67.1 3.8 18.8 11.2 -4.2 21.6 0.0 15.2 0.9 5.7 1.0 13.8 -0.9 BG3.2 66.3 4.1 14.1 19.1 -7.3 60.7 na22.0 6.0 57.6 na16.0 naCZ2.1 69.9 2.8 10.7 6.9 -6.8 15.8 na9.6 1.6 7.4 na8.6 naDK2.3 80.1 0.6 7.5 4.3b-0.8b16.8 0.3 11.7 0.8 3.3 0.4 10.1 0.8 DE1.7 75.6 4.9 11.8 8.9 -1.2 20.6 na15.2 4.2 4.8 na11.5 naEE0.2 73.2 2.3 10.1 8.9 -3.6 22.0 -4.3 19.4 -0.8 5.6 -3.8 6.2 -3.5 IE4.4 72.6b1.4b9.1 10.8b-1.1b23.1 -1.7 17.2 -3.7 4.5 -0.3 14.3 1.4 EL1.3 66.5 4.2 22.7 11.3 -5.3 28.3 -2.6 20.3 0.4 11.5 -2.6 8.1 0.6 ES3.3 71.8 1.7 18.1 12.0 -0.5 23.3 -1.7 19.7 -0.4 3.5 -1.3 6.8 -0.5 FR1.4 69.3 3.3e19.5 10.7 -0.2 19.0 -0.8 13.1 -0.4 4.7 -1.4 9.6 -0.7 HR3.2p65.7 6.0 25.4 12.9 -4.2 nanananananananaIT1.2 62.4 2.9 20.4 16.1 -0.7 26.0 -0.2 19.5 0.6 7.0 0.0 10.2 -2.1 CY4.4 73.9 0.7 10.2 9.0 -0.4 25.2 na15.5 na13.3 na3.7 naLV3.8 72.6 1.6 10.6 11.9 -0.5 35.1 na21.2 5.2 24.0 na6.2 naLT2.0 67.9 1.4u8.4 7.1 -3.5 28.7 na19.1 2.1 16.6 na6.4 naLU4.4 66.9b1.2b15.6 5.7b-0.6b15.9 -0.2 13.5 0.8 0.8 0.0 5.0 -1.2 HU0.1 61.6 3.5 18.1 11.5 -1.2 29.4 na12.3 2.3 19.9 na11.3 naMT2.2 58.8 2.7 13.5 11.5 -1.6 19.7 na15.1 0.1 4.4 na9.6 naNL3.0 78.5 1.2 9.4 3.5 -1.8 15.7 na10.2 -0.8 1.7 na9.7 naAT1.8 73.5b1.3b9.4 7.4b-1.7b16.7 -1.2 12.0 -1.0 3.3 -0.5 8.2 1.4 PL4.5 63.2 4.9 21.6 10.6 -4.4 34.4 na17.3 1.3 22.3 na10.1 naPT0.0 73.9 3.8 21.4 11.2 0.0 25.0 -2.5 18.1 -2.3 9.6 -0.3 7.2 0.3 RO0.4 63.0 3.2 19.3 13.3 -6.5 47.0 na24.6 7.6 38.0 na9.9 naSI3.4 71.3 2.2 10.1 6.7 -0.8 17.1 na11.5 1.5 5.1 na7.3 naSK2.1 68.3 8.3 20.6 12.5 -5.4 21.4 na10.6 na13.7 na6.4 naFI2.1 75.6 1.5 16.5 7.0 -2.1 17.4 0.2 13.0 2.0 3.6 -0.2 8.8 -0.7 SE2.3 79.1 0.8 19.2 7.5b-0.1b13.9 -3.0 10.5 -0.8 2.2 -0.8 6.0 -2.7 UK0.8 75.5b1.3 14.3 11.9b3.5b22.6 na18.6 0.6 4.2 na10.4 naFlags:b:Break in series. e:Estimated. p:Provisional. u:Low reliability. (cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatYear2007Employment rate(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59 
 
 
 
 
 
 
 
 
Chapter 3: Tables by indicator 

Table 3.1: Current account balance, % of GDP (3 year average)   

44 

2007200820092010201120122013201420152016BE2.0 1.0 0.0 -0.1 -0.1 0.2 -0.5 -0.4 -0.4 -0.3 BG-17.5 -21.0 -18.1 -10.7 -3.2 -0.7 0.3 0.2 0.4 1.8 CZ-3.1 -3.0 -2.9 -2.6 -2.6 -2.4 -1.4 -0.6 0.0 0.5 DK3.0 2.6 2.6 4.3 5.5 6.5 6.9 7.7 8.5 8.4 DE5.7 6.0 6.0 5.7 5.8 6.2 6.6 7.1 7.6 8.1 EE-12.9 -12.9 -7.1 -1.5 1.9 0.4 0.0 -0.4 0.9 1.4 IE-5.1 -6.3 -6.3 -4.8 -3.3 -2.3 -1.0 0.4 4.9 5.5 EL-11.8 -13.9 -14.2 -12.9 -11.2 -8.4 -5.3 -2.5 -1.3 -1.0 ES-8.7 -9.3 -7.7 -5.8 -3.8 -2.4 -0.6 0.8 1.2 1.4 FR-0.1 -0.4 -0.7 -0.9 -0.9 -1.0 -1.0 -1.1 -0.7 -0.7 HR-6.4 -7.6 -7.2 -5.2 -2.4 -0.7 0.0 0.9 2.5 2.9 IT-1.3 -1.9 -2.0 -2.7 -2.8 -2.2 -0.8 0.9 1.5 2.1 CY-8.6 -11.8 -11.7 -11.5 -7.7 -7.1 -5.0 -5.1 -3.6 -3.6 LV-17.7 -17.9 -8.4 -0.8 2.2 -1.6 -3.2 -2.7 -1.6 -0.3 LT-11.2 -13.3 -9.2 -4.5 -1.5 -2.4 -1.7 0.9 0.4 -0.3 LU10.2 9.1 8.2 7.1 6.6 6.1 5.7 5.4 5.2 5.0 HU-7.0 -7.0 -4.9 -2.5 0.1 0.9 2.1 2.3 2.9 3.6 MT-5.0 -3.2 -3.2 -4.1 -3.8 -1.1 1.4 4.4 5.3 6.7 NL7.8 7.1 5.8 5.9 7.1 8.7 9.6 9.6 9.0 8.8 AT3.1 3.9 3.6 3.3 2.4 2.0 1.7 2.0 2.1 2.2 PL-4.3 -5.7 -5.7 -5.3 -4.8 -4.8 -3.4 -2.4 -1.3 -1.0 PT-10.1 -10.8 -10.8 -10.9 -8.9 -6.0 -2.1 0.0 0.6 0.3 RO-10.9 -12.0 -10.2 -7.2 -4.9 -4.9 -3.6 -2.2 -1.0 -1.3 SI-2.6 -3.8 -3.3 -2.0 -0.2 0.7 2.2 4.1 4.9 5.1 SK-8.7 -7.3 -5.3 -4.9 -4.4 -2.9 -0.7 1.3 0.4 -0.7 FI3.6 3.3 2.7 1.8 0.5 -0.8 -1.8 -1.6 -1.3 -1.2 SE7.5 8.1 7.3 6.6 5.8 5.7 5.5 5.2 4.9 4.6 UK-3.0 -3.9 -4.1 -4.1 -3.4 -3.5 -4.1 -5.0 -5.4 -5.5 TheCurrentaccountprovidesinformationaboutthetransactionsofacountrywiththerestoftheworld.Itcoversalltransactions(otherthanthoseinfinancialitems)ingoods,services,primaryincomeandsecondaryincomewhichoccurbetweenresidentandnon-residentunits.TheMIPscoreboardindicatoristhethree-yearbackwardmovingaverageofthecurrentaccountbalanceexpressedinpercentofGDP.TheindicatorisbasedonBalanceofPayments (BoP) data. Starting from October 2014 definitions are based on the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.2: Current account balance (% of GDP) 

45 

2007200820092010201120122013201420152016BE2.0 -1.0 -1.1 1.8 -1.1 -0.1 -0.3 -0.9 -0.1 0.1 BG-23.9 -22.0 -8.3 -1.7 0.3 -0.9 1.3 0.1 0.0 5.3 CZ-4.6 -1.9 -2.3 -3.6 -2.1 -1.6 -0.5 0.2 0.2 1.1 DK1.4 2.9 3.5 6.6 6.6 6.3 7.8 8.9 8.8 7.3 DE6.7 5.6 5.7 5.6 6.1 7.0 6.7 7.4 8.5 8.3 EE-15.0 -8.7 2.5 1.8 1.3 -1.9 0.5 0.3 2.0 1.9 IE-6.5 -6.9 -5.6 -2.0 -2.4 -2.6 2.1 1.6 10.9 3.9 EL-15.2 -15.1 -12.3 -11.4 -10.0 -3.8 -2.0 -1.6 -0.2 -1.1 ES-9.6 -9.3 -4.3 -3.9 -3.2 -0.2 1.5 1.1 1.1 1.9 FR-0.3 -1.0 -0.8 -0.8 -1.0 -1.2 -0.9 -1.1 -0.2 -0.9 HR-7.3 -9.0 -5.3 -1.2 -0.8 -0.2 1.0 2.0 4.4 2.4 IT-1.4 -2.8 -1.9 -3.4 -3.0 -0.3 1.0 1.9 1.5 2.7 CY-11.8 -15.5 -7.7 -11.3 -4.1 -6.0 -4.9 -4.3 -1.5 -4.9 LV-20.7 -12.3 7.8 2.1 -3.2 -3.6 -2.7 -1.7 -0.5 1.4 LT-15.5 -13.6 1.4 -1.3 -4.6 -1.4 0.8 3.2 -2.8 -1.1 LU9.7 7.6 7.2 6.7 6.0 5.6 5.5 5.2 5.1 4.8 HU-7.1 -7.0 -0.8 0.3 0.8 1.7 3.8 1.5 3.4 6.1 MT-1.9 -1.1 -6.6 -4.7 -0.2 1.7 2.7 8.8 4.6 6.6 NL7.0 5.0 5.5 7.0 8.7 10.3 9.9 8.6 8.7 9.0 AT3.8 4.5 2.6 2.9 1.6 1.5 1.9 2.5 1.9 2.1 PL-6.3 -6.7 -4.0 -5.4 -5.2 -3.7 -1.3 -2.1 -0.6 -0.3 PT-9.7 -12.1 -10.4 -10.1 -6.0 -1.8 1.6 0.1 0.1 0.7 RO-13.8 -11.8 -4.8 -5.1 -4.9 -4.8 -1.1 -0.7 -1.2 -2.1 SI-4.1 -5.3 -0.6 -0.1 0.2 2.1 4.4 5.8 4.4 5.2 SK-5.9 -6.5 -3.4 -4.7 -5.0 0.9 1.9 1.1 -1.8 -1.5 FI3.8 2.2 1.9 1.2 -1.8 -1.9 -1.6 -1.3 -1.0 -1.4 SE8.2 7.8 6.0 6.0 5.5 5.6 5.3 4.6 4.7 4.5 UK-3.8 -4.6 -3.9 -3.8 -2.4 -4.2 -5.5 -5.3 -5.2 -5.9 TheCurrentaccountprovidesinformationaboutthetransactionsofacountrywiththerestoftheworld.Itcoversalltransactions(otherthanthoseinfinancialitems)ingoods,services,primaryincomeandsecondaryincomewhichoccurbetweenresidentandnon-residentunits.TheindicatorisexpressedinpercentofGDPandbasedonBalanceofPayments(BoP)data.StartingfromOctober2014definitionsarebasedontheSixthEditionoftheIMF's Balance of Payments and International Investment Position Manual (BPM6).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.3: Net International Investment Position (% of GDP) 

46 

2007200820092010201120122013201420152016BE33.6 51.8 57.5 65.2 60.9 51.8 51.9 45.1 47.2 51.2 BG-39.4 -48.0 -49.7 -91.9 -82.8 -77.9 -73.3 -75.2 -61.2 -47.0 CZ-36.4 -38.1 -43.9 -46.0 -45.2 -45.9 -41.4 -36.6 -32.9 -24.6 DK-5.8 -5.1 0.9 12.8 27.8 36.1 37.2 43.4 34.3 54.8 DE18.7 18.1 25.0 25.6 23.2 28.5 34.5 40.9 48.6 54.4 EE-71.3 -75.4 -80.1 -71.2 -54.8 -51.1 -50.1 -46.9 -39.8 -37.1 IE-31.4 -95.7 -116.5 -114.6 -139.2 -137.4 -131.6 -161.0 -195.1 -176.2 EL-93.7 -75.8 -87.5 -99.0 -88.8 -115.9 -130.4 -131.9 -136.3 -139.4 ES-79.6 -80.2 -93.5 -88.6 -91.9 -89.9 -95.2 -97.8 -89.7 -83.9 FR-8.9 -13.8 -14.8 -9.3 -8.7 -12.8 -16.6 -15.6 -15.7 -15.7 HR-89.1 -73.8 -86.9 -94.0 -91.5 -90.6 -88.5 -85.4 -76.5 -70.1 IT-21.2 -21.7 -22.3 -20.2 -18.3 -22.2 -22.7 -21.2 -19.7 -9.8 CY-56.5 -79.1 -100.3 -111.2 -129.9 -129.1 -138.7 -147.0 -145.0 -127.8 LV-69.0 -74.2 -82.7 -82.9 -74.4 -67.2 -66.3 -65.9 -63.8 -58.9 LT-54.6 -51.5 -58.4 -55.9 -52.5 -53.4 -47.0 -45.1 -43.9 -43.2 LU-18.2 16.3 -28.9 -20.4 28.9 49.5 51.5 31.9 37.7 34.7 HU-88.1 -101.7 -115.0 -108.3 -105.7 -93.6 -83.1 -80.3 -67.8 -65.0 MT21.4 4.2 12.6 12.1 6.3 19.6 27.0 43.3 52.2 47.6 NL-15.0 -8.1 1.4 11.2 20.4 27.0 31.0 48.7 55.1 69.1 AT-9.7 -10.0 -5.0 -5.2 -1.9 -3.2 1.3 3.4 2.5 5.6 PL-49.2 -55.6 -57.3 -65.1 -62.4 -65.3 -68.9 -69.1 -62.1 -60.7 PT-88.8 -95.1 -107.9 -104.3 -100.7 -116.5 -116.3 -117.5 -112.0 -104.7 RO-46.9 -52.5 -62.0 -63.4 -65.4 -67.4 -62.6 -57.3 -54.6 -49.9 SI-25.5 -39.4 -43.6 -47.2 -45.2 -50.1 -47.2 -45.8 -39.8 -36.9 SK-56.4 -58.1 -66.5 -61.9 -64.4 -61.4 -62.3 -63.6 -64.6 -62.4 FI-27.9 -4.6 3.2 16.5 15.1 11.7 3.9 -3.2 -6.1 -2.3 SE1.2 -7.9 -7.2 -5.6 -8.0 -14.6 -12.5 1.2 4.6 11.2 UK-8.0 9.7 -15.9 -7.9 -11.7 -29.0 -18.5 -22.3 -18.4 -1.1 Theinternationalinvestmentposition(IIP)isastatisticalstatementthatshowsatapointintimethevalueandcompositionoffinancialassetsofresidentsofaneconomythatareclaimsonnon-residentsandgoldbullionheldasreserveassets,andliabilitiesofresidentsofaneconomytonon-residents.Thedifferencebetweenaneconomy’sexternalfinancialassetsandliabilitiesistheeconomy’snetIIP(NIIP),whichmaybepositiveornegative.TheNIIPprovidesanaggregateviewofthenetfinancialposition(assetsminusliabilities)ofacountryvis-à-vistherestoftheworld.TheMIPscoreboardindicatorisexpressedinpercentofGDPandbasedonBalanceofPayments(BoP) statistics. Starting from October 2014 definitions are based on the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6). 1) LU: International investment position has been revised downwards following the revised treatment of Euro banknotes in national Balance of payments/International investment position statistics.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.4: Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change) 

47 

2007200820092010201120122013201420152016BE0.2 3.4 3.9 0.5 -1.6 -4.3 -0.2 -0.6 -1.6 -0.4 BG9.8 18.5 18.3 9.7 1.9 -4.0 -0.9 -2.8 -4.2 -4.7 CZ12.4 23.2 13.6 12.1 -0.5 0.5 -3.0 -10.0 -8.1 -3.7 DK-1.3 2.2 5.5 0.1 -2.6 -7.8 -2.5 -1.2 -1.6 -1.5 DE-1.5 0.9 2.9 -3.8 -4.8 -9.0 -1.8 -0.4 -2.1 -2.6 EE6.5 12.6 13.6 4.6 -0.8 -3.6 3.1 4.8 5.9 4.5 IE3.0 7.3 5.1 -5.4 -9.6 -12.2 -3.8 -3.6 -6.3 -6.6 EL-0.4 2.4 4.8 2.8 1.8 -5.0 -4.4 -5.6 -5.6 -3.9 ES2.7 5.2 4.6 -0.3 -2.5 -5.3 -0.3 -1.0 -3.1 -4.3 FR-1.6 1.5 2.6 -2.3 -4.4 -7.8 -2.2 -1.3 -2.8 -3.1 HR1.9 5.6 5.9 1.8 -4.7 -8.4 -3.9 -0.9 0.2 0.1 IT-1.2 1.9 3.6 -2.0 -3.2 -6.2 0.1 0.2 -2.4 -3.4 CY-1.3 2.3 3.6 -0.1 -3.0 -5.9 -0.8 -1.7 -6.1 -6.5 LV7.7 20.8 23.5 6.7 -2.4 -8.6 -1.6 0.4 2.7 4.9 LT0.9 8.9 16.7 7.2 1.7 -6.7 -0.6 1.7 4.3 5.4 LU2.4 3.4 3.8 1.2 0.1 -2.4 0.8 0.5 -0.5 -1.5 HU6.5 7.9 7.7 -1.3 -4.2 -0.8 -3.8 -6.8 -7.1 -5.0 MT1.2 5.9 5.9 -0.8 -5.0 -7.6 -1.2 0.1 -2.7 -2.5 NL-2.1 -0.1 2.7 -1.6 -2.4 -6.0 0.5 0.7 -0.8 -2.3 AT-1.8 -0.1 2.0 -2.1 -1.8 -4.7 0.7 1.9 1.5 1.0 PL16.3 13.9 -4.1 -1.3 -11.5 1.4 -4.3 -1.0 -1.3 -5.0 PT0.6 2.1 1.1 -3.1 -3.0 -4.0 -0.6 -1.8 -3.0 -1.9 RO36.0 9.4 -4.9 -10.9 -3.2 -2.0 0.4 -1.0 2.7 -2.5 SI-1.2 2.2 5.2 1.2 -1.1 -4.5 -0.6 1.2 0.4 -0.5 SK18.0 25.0 27.1 11.0 3.4 -3.2 2.1 1.2 -1.1 -1.6 FI-4.9 -0.3 5.0 -1.3 -2.8 -8.3 0.2 2.7 2.2 0.5 SE-4.1 -2.2 -8.5 -3.3 3.2 10.2 5.1 -3.7 -8.2 -9.2 UK-0.4 -11.5 -19.9 -20.5 -8.0 5.9 3.4 10.1 10.8 0.2 Realeffectiveexchangerate(REER)aimstoassessacountry'spriceorcostcompetitivenessrelativetoitsprincipalcompetitorsininternationalmarkets.Changesincostandpricecompetitivenessdependnotonlyonexchangeratemovementsbutalsooncostandpricetrends.ThespecificREERfortheMIPisdeflatedbytheconsumerpriceindicesrelativetoapanelof42countries(doubleexportweightsareusedtocalculateREERs,reflecting not only competition in the home markets of the various competitors, but also competition in export markets elsewhere). The MIP scoreboard indicator is the percentage change over three years of REER. (cid:9)(cid:9)(cid:9)      Source: European Commission, DG ECFIN 
 
 
 
 
 
 
 
 
Table 3.5: Real effective exchange rate - 42 trading partners, HICP deflator (1 year % change) 

48 

2007200820092010201120122013201420152016BE0.7 2.8 0.5 -2.6 0.6 -2.3 1.5 0.2 -3.3 2.8 BG4.7 8.7 4.0 -3.0 1.0 -2.1 0.1 -0.9 -3.5 -0.4 CZ2.6 15.0 -3.8 1.3 2.0 -2.8 -2.2 -5.2 -0.8 2.4 DK0.7 2.2 2.6 -4.5 -0.6 -2.9 1.0 0.8 -3.3 1.2 DE1.3 0.6 1.0 -5.3 -0.6 -3.4 2.2 0.8 -4.9 1.6 EE4.5 6.6 2.0 -3.8 1.1 -0.9 2.9 2.7 0.1 1.6 IE3.1 3.6 -1.5 -7.3 -1.0 -4.4 1.6 -0.8 -7.1 1.3 EL0.7 1.6 2.4 -1.2 0.6 -4.5 -0.6 -0.7 -4.4 1.3 ES1.6 2.5 0.4 -3.2 0.3 -2.4 1.9 -0.5 -4.5 0.6 FR0.6 1.6 0.4 -4.2 -0.6 -3.2 1.6 0.3 -4.6 1.2 HR0.4 4.0 1.4 -3.4 -2.7 -2.5 1.2 0.4 -1.4 1.1 IT0.9 1.4 1.3 -4.6 0.1 -1.9 1.9 0.2 -4.4 0.8 CY-0.7 3.2 1.0 -4.2 0.2 -2.1 1.1 -0.8 -6.4 0.7 LV6.5 10.2 5.1 -8.0 0.8 -1.5 -0.9 2.9 0.7 1.2 LT3.0 6.1 6.8 -5.4 0.6 -2.1 0.9 2.9 0.4 2.0 LU0.9 2.0 0.9 -1.7 0.8 -1.6 1.6 0.5 -2.6 0.6 HU10.9 2.5 -5.3 1.6 -0.5 -1.9 -1.4 -3.6 -2.3 0.8 MT1.3 3.7 0.7 -5.1 -0.7 -2.0 1.5 0.6 -4.7 1.6 NL0.2 0.6 1.9 -3.9 -0.3 -1.8 2.7 -0.1 -3.3 1.1 AT0.6 0.3 1.1 -3.4 0.5 -1.8 2.1 1.7 -2.3 1.6 PL3.1 8.8 -14.5 6.1 -2.3 -2.2 0.2 1.0 -2.5 -3.5 PT1.0 0.6 -0.6 -3.1 0.7 -1.6 0.3 -0.5 -2.8 1.5 RO8.3 -5.4 -7.3 1.5 2.8 -6.1 4.0 1.3 -2.5 -1.3 SI1.3 1.6 2.3 -2.6 -0.7 -1.2 1.4 1.1 -2.0 0.4 SK9.7 8.5 6.8 -4.3 1.1 0.0 0.9 0.2 -2.2 0.5 FI0.2 1.6 3.1 -5.8 0.0 -2.6 2.9 2.5 -3.1 1.3 SE1.0 -2.5 -7.1 6.7 4.1 -0.7 1.7 -4.6 -5.4 0.7 UK1.6 -13.1 -9.3 0.9 0.5 4.3 -1.5 7.1 5.0 -10.9 Realeffectiveexchangerate(REER)aimstoassessacountry'spriceorcostcompetitivenessrelativetoitsprincipalcompetitorsininternationalmarkets.Changesincostandpricecompetitivenessdependnotonlyonexchangeratemovementsbutalsooncostandpricetrends.ThespecificREERfortheMIPisdeflatedbytheconsumerpriceindicesrelativetoapanelof42countries(doubleexportweightsareusedtocalculateREERs,reflecting not only competition in the home markets of the various competitors, but also competition in export markets elsewhere). The indicator is one year percentage change of REER. (cid:9)(cid:9)(cid:9)      Source: European Commission, DG ECFIN 
 
 
 
 
 
 
 
 
Table 3.6: Export market share - % of world exports (5 year % change) 

49 

2007200820092010201120122013201420152016BE-6.7 -11.0 -9.0 -11.3 -7.5 -15.2 -12.7 -13.0 -11.9 -2.3 BG45.7 35.6 19.2 8.1 11.3 -0.6 0.3 5.9 12.2 8.2 CZ58.4 53.1 27.2 11.8 7.6 -4.0 -9.4 -5.8 -1.8 2.9 DK-6.0 -4.1 -1.1 -10.5 -13.6 -17.4 -17.5 -15.5 -8.2 -4.2 DE2.1 -4.5 -6.7 -7.7 -9.0 -16.2 -12.1 -8.6 -2.5 2.8 EE53.9 37.0 16.3 9.5 24.5 7.3 10.2 20.4 7.9 -0.7 IE-12.0 -16.7 1.9 -6.2 -10.1 -15.9 -7.8 -12.1 41.0 59.8 EL9.3 4.8 -10.3 -14.2 -15.7 -24.9 -25.4 -18.1 -20.7 -19.0 ES-4.8 -14.3 -9.0 -11.6 -8.4 -17.9 -10.8 -11.9 -3.8 2.2 FR-17.0 -18.8 -14.4 -17.4 -15.3 -18.3 -14.6 -14.2 -5.6 -2.4 HR12.9 -5.7 -5.2 -13.1 -16.0 -23.8 -23.0 -19.9 -5.8 8.1 IT-8.9 -15.9 -17.9 -18.9 -19.2 -25.3 -19.9 -14.9 -8.9 -2.8 CY-18.7e-25.3e-9.1e-15.8e-11.4e-21.7e-14.9 -23.8 -11.9 -3.0 LV95.6 76.8 52.6 21.8 26.8 8.4 6.3 11.5 12.9 9.3 LT30.5e43.1e30.8 19.1 29.7 32.9 19.8 34.2 15.3 5.4 LU25.6 15.7 11.9 3.4 -3.7 -9.8 3.9 11.8 24.3 26.2 HU28.7 25.3 12.9 3.5 -2.2 -21.0 -22.5 -16.3 -7.8 -0.4 MTna10.9 45.8 38.0 17.8 12.7 -0.2 -12.1 -2.0 8.7 NL-2.5 -6.1 -5.4 -8.1 -8.2 -12.4 -11.0 -11.0 -6.4 0.1 AT1.6 -4.5 -6.1 -12.5 -12.3 -21.4 -18.1 -15.4 -9.0 -4.0 PL55.7e51.4e34.4 24.8 15.3 1.9 0.2 5.2 9.6 18.1 PT-3.3 -11.1 -8.1 -6.8 -8.5 -16.3 -7.1 -5.7 2.5 5.8 RO84.2 91.9 69.4 53.5 50.2 12.8 14.2 20.7 20.9 23.6 SI23.6 16.3 9.6 -1.5 -5.7 -20.6 -18.0 -12.5 -4.2 4.0 SK67.6e31.9e9.5 4.0 -2.6 -9.9 -3.7 2.3 4.5 7.3 FI-4.6 -4.3 -12.9 -19.4 -23.6 -31.0 -31.0 -26.1 -21.1 -14.1 SE1.4 -6.8 -15.9 -12.7 -12.1 -19.1 -16.9 -9.2 -9.1 -7.9 UK-15.0 -22.6 -20.0 -23.6 -25.7 -20.9 -12.0 -8.9 2.2 -0.1 Theexportmarketshareiscalculatedbydividingtheexports(goodsandservices)ofthecountrybythetotalexportsoftheregion/world.TheMIPindicatorisexpressedasthepercentagechangeoverfiveyears.Thetotalworldexport data are based on International Monetary Fund (IMF) data.Flags:e:Estimated. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat, and IMF 
 
 
 
 
 
 
 
 
 
 
Table 3.7: Export market share - % of world exports (1 year % change) 

50 

2007200820092010201120122013201420152016BE2.4 -1.5 0.9 -6.6 -2.6 -6.1 1.4 0.5 -5.4 7.9 BG6.9 5.6 -4.7 -7.7 12.0 -4.5 6.5 0.6 -2.1 8.0 CZ7.8 4.4 0.8 -5.0 -0.2 -3.8 -1.4 4.8 -1.0 4.6 DK-0.5 2.3 -1.8 -9.8 -4.2 -4.8 2.2 0.5 -2.0 -0.2 DE3.9 -3.3 -1.5 -6.2 -2.0 -4.4 1.6 2.4 0.0 3.3 EE13.4 0.9 -8.1 2.8 15.1 -2.3 3.7 0.5 -7.8 5.9 IE3.3 -6.9 18.4 -12.8 -9.5 -3.3 2.1 12.9 39.8 2.6 EL6.9 1.2 -5.7 -11.5 -6.7 -4.8 0.6 3.4 -14.3 -4.6 ES5.0 -4.5 2.1 -9.6 -1.1 -5.8 3.7 0.9 -1.3 5.0 FR-1.1 -2.5 0.2 -10.1 -2.6 -4.5 1.9 0.6 -1.1 0.7 HR1.9 1.5 -0.9 -12.7 -6.1 -7.5 2.5 3.1 2.7 7.8 IT3.1 -6.3 -5.1 -8.6 -3.5 -4.8 0.5 0.8 -2.1 3.0 CY3.0e-5.9e12.7 -14.8 -5.0 -8.9 2.3 0.9 -1.5 4.7 LV21.7 4.4 -1.9 -4.9 6.9 4.1 2.4 2.8 -3.7 3.5 LT3.5 20.0 -11.7 4.8 12.9 6.0 8.2 -1.1 -10.0 3.2 LU7.5 -3.6 2.5 -7.9 -1.4 0.7 10.9 10.3 2.4 0.1 HU10.7 3.6 -3.5 -7.9 -4.1 -10.5 1.7 4.2 1.5 3.6 MT3.3 14.3 16.9 -10.9 -4.2 -1.2 1.2 3.0 -0.6 6.2 NL1.8 -0.2 0.4 -6.8 -3.5 -2.9 1.4 0.5 -2.0 3.2 AT4.8 -2.4 -1.9 -10.4 -2.5 -6.0 1.7 1.4 -3.7 2.9 PL10.6 7.6 0.1 -1.7 -1.5 -2.3 5.8 5.1 2.4 6.2 PT4.4 -3.8 -0.2 -9.0 0.3 -4.5 6.8 1.3 -1.0 3.5 RO24.0 14.1 0.5 -0.4 6.1 -6.9 15.5 6.2 -0.2 8.5 SI10.3 -0.6 -2.8 -9.9 -1.7 -7.2 2.6 3.7 -1.4 6.7 SK9.1 -1.8 -7.4 -4.6 2.9 1.0 5.0 -1.6 -2.6 5.6 FI4.4 0.0 -11.0 -12.0 -6.5 -5.8 0.1 -4.7 -6.1 1.9 SE2.3 -4.3 -8.7 -1.5 -0.2 -5.9 -1.6 -0.3 -1.3 1.1 UK-7.7 -10.9 -0.1 -7.2 -2.5 -1.8 -0.8 3.4 4.1 -4.7 Theexportmarketshareiscalculatedbydividingtheexports(goodsandservices)ofthecountrybythetotalexportsoftheregion/world.Theindicatorisexpressedasthepercentagechangeoveroneyear.Thetotalworldexportdata are based on International Monetary Fund (IMF) data.Flags:e:Estimated. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat, and IMF 
 
 
 
 
 
 
 
 
 
 
Table 3.8: Nominal unit labour cost index, 2010=100 (3 year % change)  

51 

2007200820092010201120122013201420152016BE5.2 8.9 10.0 7.3 5.3 5.4 8.3 5.5 1.5 -0.6 BG16.7 25.5 34.6 29.5 17.7 12.2p15.6p18.0p14.9p9.5pCZ2.5 6.8 9.0 6.4 3.4 3.8 4.2 4.0 0.1 2.9 DK9.8 13.2 16.4 9.5 3.6 -0.1 1.5 2.4 2.6 3.4 DE-2.9 -0.1 8.1 7.5 5.7 2.7 5.9 7.0 5.6 5.2 EE31.8 48.7 39.2 13.8 -2.6 0.0 9.1 14.0 13.5 13.4 IE13.1 16.8 7.8 -6.7 -15.4b-11.8 -1.9 -3.7 -19.5 -20.5 EL11.0 7.4 15.8 14.0 6.8p-2.3p-10.0p-10.4p-9.8p-3.3pES11.3 13.7 11.8 5.7 -1.0 -5.1 -4.1 -3.4 0.5p0.4pFR5.7 6.5 8.2 7.5 5.5 4.3 4.6 4.6 2.2p1.4pHR7.8p10.1d16.1d11.8d6.3d-1.6d-3.9d-6.4d-6.1d-5.9dIT6.5 8.5 11.1 8.9 5.3 2.1 2.9 2.3 1.6 1.9 CY9.8 6.1 12.4 10.6 9.4 3.2 -2.1 -7.6 -10.6 -6.2pLV69.7 78.3 37.2 -2.2 -21.0 -6.9 7.9 16.1 17.5 16.5 LT25.0 28.8 13.0 0.3 -7.8 -4.2 6.2 8.7 11.7 14.7 LU6.8 12.6 17.6 16.0 8.8 5.9 7.6 4.2 2.3 2.5 HU10.0 11.3 12.6 6.9 4.3 5.0 6.2 5.9 -0.2 3.3 MT4.9 9.5 11.2 9.2 11.0 8.7 9.8 3.4 0.1 -0.1 NL2.3 6.6 12.1 7.6 4.8 2.3 5.2 4.2 -0.4p-1.1pAT3.5 6.3 10.2 9.0 5.8 3.8 6.4 7.8 6.2 5.8 PL3.2 10.5 12.3 11.3b4.2 5.3 3.1 2.9 0.3 2.1pPT5.1 4.5 6.6 4.2 -0.6 -6.3 -3.4 -2.7 0.5 0.9pRO39.3 39.1 37.0 28.8 -0.5 -0.2b-3.2 7.3 0.3 6.0pSI5.4 10.6 18.5 16.1 8.3 0.6 0.5 0.0 -0.4 0.7 SK5.7 6.0 10.9 9.5 6.1 0.8 2.2 1.8 2.4 3.5 FI3.8 7.5 15.2 13.2 9.4 6.0 9.1 7.8 3.9 2.1 SE4.9 9.8 15.9 8.3 5.6 4.0 8.6 6.9 2.4 2.0 UK10.0 10.4 11.1 8.9 7.1 3.2 3.4 3.1 2.2 3.1 TheNominalunitlabourcost(NULC)indexisdefinedastheratiooflabourcosttolabourproductivity,wherelabourcostistheratioofCompensationofemployees(currentprices)tothenumberofEmployees,andlabourproductivityistheratioofGrossdomesticproduct(atmarketpricesinmillions,chain-linkedvolumesreferenceyear2010)tototalEmployment.Dataonemployeesandemploymentarepresentedaccordingtothedomesticconcept used in National accounts. The MIP Scoreboard indicator is the percentage change over three years. Input data are obtained from the official national accounts' country data, through ESA2010 transmission programme.Flags:b:Break in series. p:Provisional. 1) HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.9: Nominal unit labour cost index, 2010=100 (1 year % change)  

52 

2007200820092010201120122013201420152016BE1.8 4.7 3.2 -0.7 2.7 3.4 2.0 0.0 -0.5 -0.1 BG8.3 12.8 10.2 4.3 2.5 5.0p7.4p4.6p2.3p2.3pCZ2.6 3.6 2.6 0.1 0.7 3.0 0.5 0.4 -0.8 3.3 DK5.2 5.7 4.7 -1.0 0.0 0.9 0.6 0.8 1.1 1.4 DE-0.6 2.3 6.3 -1.2 0.7 3.2 1.9 1.7 1.8 1.6 EE16.8 16.7 2.2 -4.6 -0.2 5.0 4.1 4.3 4.5 4.0 IE4.9 7.5 -4.5 -9.1 -2.6b-0.3 1.1 -4.4 -16.6 -0.2 EL2.6 5.3 7.1 1.0 -1.4p-2.0p-6.9p-1.8p-1.3p-0.2pES4.1 5.7 1.6 -1.6 -1.0 -2.6 -0.6 -0.3 1.4p-0.7pFR1.6 2.9 3.5 1.0 1.0 2.3 1.2 0.9 0.0p0.4pHR3.3p5.1d6.9d-0.6d0.0d-1.0d-2.9d-2.6d-0.7d-2.7dIT2.0 4.2 4.6 0.0 0.7 1.4 0.7 0.1 0.7 1.0 CY1.5 2.9 7.7 -0.2 1.8 1.6 -5.3 -4.0 -1.7 -0.7pLV27.3 21.0 -10.9 -9.3 -2.3 5.0 5.2 5.1 6.2 4.3 LT4.8 9.7 -1.7 -7.0 0.8 2.2 3.2 3.2 5.0 5.9 LU0.4 9.1 7.4 -1.0 2.3 4.6 0.5 -0.9 2.8 0.7 HU4.9 4.3 2.9 -0.3 1.7 3.6 0.8 1.4 -2.4 4.4 MT2.0 3.2 5.6 0.2 4.9 3.5 1.2 -1.2 0.2 0.9 NL2.4 3.7 5.5 -1.7 1.0 3.0 1.1 0.1 -1.6p0.4pAT1.1 3.7 5.1 0.0 0.7 3.1 2.5 2.0 1.6 2.1 PL3.2 7.8 0.9 2.4b0.8 2.0 0.2 0.6 -0.6 2.1pPT1.0 2.8 2.7 -1.2 -2.0 -3.2 1.8 -1.3 0.0 2.2pRO8.9 21.9 3.2 2.4 -5.8 3.5b-0.6 4.3 -3.3 5.0pSI2.6 6.4 8.5 0.6 -0.8 0.8 0.5 -1.2 0.4 1.6 SK0.2 4.2 6.3 -1.1 1.0 1.0 0.3 0.5 1.6 1.4 FI0.3 5.8 8.5 -1.4 2.3 5.2 1.4 1.1 1.3 -0.4 SE4.2 5.2 5.7 -2.6 2.6 4.1 1.7 1.0 -0.3 1.2 UK3.8 1.8 5.1 1.8 0.1 1.3 1.9 -0.1 0.4 2.8 TheNominalunitlabourcost(NULC)indexisdefinedastheratiooflabourcosttolabourproductivity,wherelabourcostistheratioofCompensationofemployees(currentprices)tothenumberofEmployees,andlabourproductivityistheratioofGrossdomesticproduct(atmarketpricesinmillions,chain-linkedvolumesreferenceyear2010)tototalEmployment.Dataonemployeesandemploymentarepresentedaccordingtothedomesticconcept used in National accounts. The MIP Scoreboard indicator is the percentage change over three years. Input data are obtained from the official national accounts' country data, through ESA2010 transmission programme.Flags:b:Break in series. p:Provisional. 1) HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
Table 3.10: House price index (2015=100), deflated (1 year % change) 

53 

2007200820092010201120122013201420152016BE4.8 1.2 -0.1 1.4 1.0 0.3 0.4 -1.3 1.4p1.0pBG18.3p17.6p-21.0p-12.3p-8.7p-5.3p0.4p1.5p1.6bp7.1pCZ16.0e7.7e-4.7 -2.2 -1.7 -3.6 -0.8 1.8 3.8p6.7pDK0.9 -7.8 -13.0 0.3 -4.0 -4.9 3.1 2.9 6.3 4.2 DE-3.7 -0.4 1.3 -0.8 1.4 1.9 2.1 2.2 4.1 5.4 EE12.2 -16.6 -37.0 2.1 2.7 3.2 7.5 13.0 7.1 3.8 IE4.8 -8.0 -13.2 -11.3p-17.8p-14.8p-0.5p15.1p11.0p6.6pEL2.1e-2.5e-4.6e-8.1e-7.5e-12.0e-9.2e-5.0e-3.5e-2.0eES6.3 -4.8 -5.8 -3.6 -9.8 -16.8 -10.0 0.1 3.7 4.7 FR3.5b-1.9 -4.8 3.6 4.0 -1.9 -2.6 -1.7 -1.8 1.0 HR8.9e-2.6e-8.0 -7.7 -2.1 -4.6 -5.8 -1.1 -2.4 2.1 IT2.6e-0.5e-0.1e-2.2be-2.1p-5.4p-6.9p-4.6p-2.7p-0.8pCY8.0 0.6 -6.7 -7.7p-4.5p-5.3p-4.1p-1.3p0.3bp1.6 LV22.0 -10.9 -34.9 -8.7 4.1 -0.4 6.5 4.3 -2.4 7.4 LT19.3 -1.8 -32.8 -8.6 2.4 -3.2 0.2 6.3 4.6 4.5 LU4.7be0.2 -0.6 4.2 0.5 2.2 3.3 3.9 5.3 5.9 HUna-3.1 -9.0 -5.9 -6.9 -9.2 -4.3 3.3 13.3 13.6 MT19.6 7.1 -6.2 -1.1 -3.4 0.7 -1.6 2.5 5.1 4.8pNL2.4 0.0 -3.4 -2.7 -4.0 -8.1 -8.2 0.0 3.4 4.4 AT2.1e-1.1e3.6e4.4be2.9 4.9 3.0 1.4 3.4 7.2 PLnana-5.4e-6.0e-4.6 -6.6 -4.8 1.2 2.6 2.5 PT-1.9e0.9be1.0 -1.0 -6.4 -8.8 -2.7 3.9 2.1 6.1 ROnana-27.1e-13.9 -15.8 -9.2 -2.8 -3.2 1.9 6.5 SI18.7e1.3 -10.2 -1.2 0.9 -8.5 -7.2 -6.5 1.4 3.6 SK25.7 12.9 -12.7 -4.9 -5.2 -6.0 -0.4 1.5 5.5 7.0 FI3.9p-2.4p-0.4p4.8 0.0 -0.4 -1.3 -1.6 -0.3 -0.3 SE10.9 -2.0 0.8 6.4 0.8 0.7 4.7 8.3 12.1 7.6 UK7.8 -8.2 -9.7 4.0 -5.0 -1.7 0.3 6.0 5.3 5.5 Thedeflatedhousepriceindex(HPI)orrealhousepriceindexistheratiobetweenHPIandthenationalaccountsdeflatorforprivatefinalconsumptionexpenditure(householdsandnon-profitinstitutionsservinghouseholds(NPISHs)).TheindicatormeasuresinflationinthehousemarketrelativetoinflationinthefinalconsumptionexpenditureofhouseholdsandNPISHs.Eurostat'sHPIcapturespricechangesofallresidentialpropertiespurchasedby households (flats, detached houses, terraced houses, etc.), both new and existing, independently of their final use and their previous owners. Only market prices are considered, self-build dwellings are therefore excluded. The land component is included. The MIP Scoreboard indicator is one year percentage change of the deflated HPI. The indicator is based on Price statistics and National accounts data.Flags:b:Break in series. p:Provisional. 1) e = NSI estimates for BG, CZ, PL, RO, and SI; e = source NCB for EL, HR, IT, AT and PT; e = NSI&NCB estimates for LU.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
Table 3.11: Private sector credit flow, consolidated (% of GDP)   

54 

2007200820092010201120122013201420152016BE17.0 16.5 8.9 1.4 21.8 15.3 7.4 -1.9 12.2 13.3 BG41.2 33.3 4.7 3.7 1.4 3.0 7.2 -1.1 -0.3 4.0 CZ9.3 9.3 0.5 2.6 2.1 2.9 4.4 1.7 0.3 4.4 DK17.1 18.8 -1.9 -2.9 4.4 7.9 -3.1 0.0 -6.2 -10.4 DE2.1 0.5 -0.9 0.0 1.6 1.3 2.0 0.5 3.0 3.8 EE12.3 10.5 -6.0 -7.6 -1.1 6.8 3.5 5.7 3.0 5.9 IE24.9 22.0 -4.5 2.2 16.3 -0.6 -1.4 2.5 -3.1 -19.0 EL16.2 15.5 2.2 5.5 -6.5p-5.9p-6.4p-2.7p-3.3p-1.7pES26.4 11.7 -1.2 0.9 -3.7 -11.2 -10.3 -7.0 -1.8p-1.0pFR11.2 9.8 3.3 4.6 6.4 4.4 2.1 3.3 4.9p6.2pHR16.8 16.1 2.6 4.9 -2.3 -3.0 -0.6 0.1 -1.4 -0.1eIT12.0 6.6 0.8 5.0 3.1 -0.8 -3.0 -0.5 -1.3 0.6 CY30.4 29.8 13.3 15.1 13.0 16.5 -13.3 -0.3 4.1 10.2pLV29.5 9.1 -8.6 2.5 -2.0 -2.1 0.9 -11.8 0.7 0.3 LT22.8 10.3 -9.4 -5.9 -2.2 0.3 -1.3 0.3 1.9 4.3 LU148.8 -5.5 8.6 -23.6 20.0 24.7 27.3 24.7 47.0 1.5 HU15.9 12.6 6.0 -4.2 -4.4 -6.1 -0.9 -0.1 -2.6 -3.6 MT7.8 13.4 12.7 7.5 5.4 -0.7 2.7 3.9 2.8 11.1 NL12.9 9.7 8.6 1.7 4.2 2.0 1.5 -1.8 -0.8p1.5pAT7.3 5.4 1.3 0.3 3.0 1.2 1.0 0.9 2.3 3.2 PL12.5 14.2 4.4 4.3 6.7 4.8 3.3 4.6 3.5 4.7 PT18.2 15.9 5.3 5.3 -0.9 -3.9 -1.6 -5.0 -1.8 -2.2pRO20.3 13.1 -1.7 0.9 2.8 0.3 -1.4 -2.4 0.2 0.6pSI21.5 15.5 2.9 1.9 0.4 -2.9 -4.0 -4.7 -5.0 -0.8 SK9.6 10.9 3.0 2.9 3.0 3.4 5.2 5.1 7.7 9.2 FI13.2 16.7 0.8 7.3 3.6 7.4 2.8 1.5 6.9 2.2 SE20.1 18.7 5.9 5.3 6.9 2.4 4.5 4.8 7.5 7.6 UK18.4 12.6 -3.8 -0.6 1.7 1.8 6.9 6.8 3.5 8.2 1)LU:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseries.2)IE2015:significantincreasesforIEduetore-domicilingoflargemultinationalcorporationsandmovementoflargepartsoftheirbalancesheets.3)IE2016:Thedecline for IE relative to 2015 predominantly reflects restructuring and re-domiciling activities of large multinational companies.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatTheprivatesectorcreditflowrepresentsthenetamountofliabilitiesinwhichthesectorsNon-Financialcorporations(S.11)andHouseholdsandNon-Profitinstitutionsservinghouseholds(S.14_S.15)haveincurredalongtheyear.TheinstrumentstakenintoaccountareDebtsecurities(F.3)andLoans(F.4).Dataarepresentedinconsolidatedterms,i.e.datadonottakeintoaccounttransactionswithinthesamesectorandexpressedin%ofGDP.The indicator is based on National accounts data. Definitions regarding sectors and instruments are based on the ESA 2010 transmission programme. Flags:e:Estimated. p:Provisional.  
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.12: Private sector debt, consolidated (% of GDP)   

55 

2007200820092010201120122013201420152016BE134.5 162.7 168.9 164.4 177.0 185.5 165.4 166.0 178.9 190.1 BG123.4 131.4 133.8 132.5 124.2 125.0 131.9 123.6 110.5 104.9 CZ57.4 63.8 65.9 67.9 68.3 70.7 73.7 71.5 68.1 68.7 DK208.5 222.3 232.2 220.6 221.0 224.0 216.1 214.7 207.6 210.7 DE110.9 109.7 113.0 106.7 102.5 101.8 102.9 99.4 98.7 99.3 EE123.0 136.7 153.2 140.4 120.4 117.8 115.9 118.0 115.2 115.4 IE198.1 236.4 256.1 257.2 272.7 279.1 267.1 279.4 306.5 278.1 EL101.5 113.0 116.5 128.1 130.2p131.5p129.1p128.0p126.1p124.7pES191.2 195.7 201.4 200.3 196.2 187.8 176.9 165.5 154.6p146.7pFR115.6 122.2 130.5 131.8 135.3 138.5 137.7 141.9 143.7p146.9pHR101.3 110.8 119.1 125.3 122.8 120.0 117.9 118.1 113.2 106.1eIT109.7 113.9 122.5 123.3 122.7 125.1 121.6 119.0 115.3 113.6 CY265.5 285.0 306.0 315.6 321.6 328.1 340.1 352.5 353.5 344.6pLV102.6 104.5 125.4 134.0 115.3 97.9 92.4 96.0 88.8 88.3 LT74.7 76.7 83.3 74.5 64.7 61.1 56.3 53.9 54.7 56.2 LU309.6 296.1 326.5 277.9 277.0 295.5 305.0 313.0 348.6 343.6 HU93.7 105.0 116.4 114.9 114.4 101.6 95.1 91.2 84.3 77.0 MT146.7 153.3 168.1 162.4 159.8 153.3 143.9 135.9 125.8 128.4 NL214.9 216.3 228.8 225.8 225.0 225.9 223.4 225.7 225.1 221.5pAT123.9 126.7 131.9 132.3 129.4 128.2 127.1 124.9 123.9 124.0 PL54.4 67.3 67.1 69.7 73.9 73.4 75.4 78.1 78.9 81.6 PT185.0 196.2 204.2 201.5 204.1 210.3 202.4 190.8 179.7 171.4pRO57.8 65.5 71.9 73.9 72.9 71.9 66.6 62.1 59.1 55.8pSI96.3 105.6 113.5 115.1 113.0 112.3 107.2 97.4 86.9 80.5 SK60.4 64.9 69.2 67.4 70.2 77.9 82.9 87.8 88.1 94.7 FI123.6 132.7 142.8 148.9 145.4 148.6 147.7 149.6 152.9 149.3 SE167.9 189.1 201.5 189.1 190.8 192.3 194.5 193.9 188.4 188.5 UK183.8 190.7 192.0 185.1 179.6 179.6 173.7 166.8 164.7 168.1 TheprivatesectordebtisthestockofliabilitiesheldbythesectorsNon-Financialcorporations(S.11)andHouseholdsandNon-Profitinstitutionsservinghouseholds(S.14_S.15).TheinstrumentstakenintoaccountareDebtsecurities(F.3)andLoans(F.4).Dataarepresentedinconsolidatedterms,i.e.donottakingintoaccounttransactionswithinthesamesectorandexpressedin%ofGDP.TheindicatorisbasedonNationalaccountsdata.Definitions regarding sectors and instruments are based on the ESA 2010 transmission programme.Flags:e:Estimated. p:Provisional. 1)LU:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseries.Themainimpactisadownwardrevisioninlevelsofprivatesectordebtforyears2007to2014.2)IE2015:significantincreasesforIEduetore-domicilingoflargemultinational corporations and movement of large parts of their balance sheets. 3) IE 2016: The decline for IE relative to 2015 predominantly reflects restructuring and re-domiciling activities of large multinational companies.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.13: General government gross debt (% of GDP) 

56 

2007200820092010201120122013201420152016BE87.0 92.5 99.5 99.7 102.6 104.3 105.5 106.8 106.0 105.7 BG16.3 13.0 13.7 15.3 15.2 16.7 17.0 27.0 26.0 29.0 CZ27.5 28.3 33.6 37.4 39.8 44.5 44.9 42.2 40.0 36.8 DK27.3 33.3 40.2 42.6 46.1 44.9 44.0 44.0 39.5 37.7 DE63.7 65.1 72.6 80.9 78.6 79.8 77.4 74.6 70.9 68.1 EE3.7 4.5 7.0 6.6 6.1 9.7 10.2 10.7 10.0 9.4 IE23.9 42.4 61.5 86.1 110.3 119.6 119.4 104.5 76.9 72.8 EL103.1 109.4 126.7 146.2 172.1 159.6 177.4 179.0 176.8 180.8 ES35.6 39.5 52.8 60.1 69.5 85.7 95.5 100.4 99.4 99.0 FR64.3 68.0 78.9 81.6 85.2 89.6 92.4 95.0 95.8 96.5 HR37.7 39.6 49.0 58.2 65.0 70.6 81.7 85.8 85.4 82.9 IT99.8 102.4 112.5 115.4 116.5 123.4 129.0 131.8 131.5 132.0 CY53.5 45.1 53.8 56.3 65.7 79.7 102.6 107.5 107.5 107.1 LV8.0 18.2 35.8 46.8 42.7 41.2 39.0 40.9 36.9 40.6 LT15.9 14.6 28.0 36.2 37.2 39.8 38.8 40.5 42.6 40.1 LU7.7 14.9 15.7 19.8 18.7 22.0 23.7 22.7 22.0 20.8 HU65.0 71.0 77.2 79.7 79.9 77.6 76.0 75.2 74.7 73.9 MT62.3 62.6 67.6 67.5 70.1 67.8 68.4 63.8 60.3 57.6 NL42.7 54.7 56.8 59.3 61.6 66.3 67.8 68.0 64.6 61.8 AT64.7 68.4 79.6 82.4 82.2 81.7 81.0 83.8 84.3 83.6 PL44.2 46.3 49.4 53.1 54.1 53.7 55.7 50.2 51.1 54.1 PT68.4 71.7 83.6 96.2 111.4 126.2 129.0 130.6 128.8 130.1 RO12.7 13.2 23.2 30.2 34.4 37.3 37.8 39.4 37.9 37.6 SI22.8 21.8 34.6 38.4 46.6 53.8 70.4 80.3 82.6 78.5 SK30.1 28.5 36.3 41.2 43.7 52.2 54.7 53.5 52.3 51.8 FI34.0 32.7 41.7 47.1 48.5 53.9 56.5 60.2 63.6 63.1 SE39.3 37.8 41.4 38.6 37.9 38.1 40.8 45.5 44.2 42.2 UK41.9 49.9 64.1 75.6 81.3 84.5 85.6 87.4 88.2 88.3 Debtmeanstotalgrossdebtatnominalvalueoutstandingattheendoftheyearandconsolidatedbetweenandwithinthegeneralgovernment(asdefinedinthecurrentProtocol12,annexedtothe2012consolidatedversionoftheTreatyontheFunctioningoftheEuropeanUnion).ThisdefinitionissupplementedbyCouncilRegulation(EC)No479/2009,asamendedbytheCommissionRegulation(EU)No220/2014.ThestockofgovernmentdebtintheExcessiveDeficitProcedure(EDPdebt)isequaltothesumofliabilities,attheendofyear,ofallunitsclassifiedwithinthegeneralgovernment(S.13)intheinstruments:currencyanddeposits(F.2),debtsecurities(F.3)andloans (F.4). The MIP indicator is expressed in % of GDP. Data source from Government finance statistics.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.14: Unemployment rate (3 year average) 

57 

2007200820092010201120122013201420152016BE8.1 7.6 7.5 7.7 7.8 7.7 7.7 8.2 8.5 8.3 BG8.7 7.2 6.4 7.6i9.5i11.3i12.2 12.2 11.2 9.4 CZ6.8 5.6 5.5 6.1 6.9 7.0 6.9 6.7 6.1 5.1 DK4.2i3.7i4.4 5.6 7.0 7.5 7.4 7.0 6.6 6.3 DE9.9i8.7 7.8 7.3 6.8 6.1 5.5 5.2 4.9 4.6 EE6.2 5.3i7.9i11.9i14.2 13.0 10.3 8.7 7.4 6.8 IE4.5 5.2 7.7 10.8 13.5 14.4 14.2 13.0 11.3 9.5 EL9.1 8.4 8.6 10.0 13.4 18.4 23.3 26.2 26.3 25.0 ES8.6 9.3 12.5 16.4 19.7 22.0 24.1 25.1 24.2 22.1 FR8.6 8.1 8.2 8.6 9.2 9.4 9.8 10.1 10.3 10.3 HR11.5i10.0i9.3 9.9 11.6 13.8 15.6 16.8 16.9 15.6 IT6.9 6.5 6.8 7.6 8.2 9.2 10.4 11.8 12.2 12.1 CY4.6 4.1 4.3 5.1 6.5 8.7 11.9 14.6 15.7 14.7 LV7.7 6.9 10.4 14.9 17.7 16.9 14.4 12.6 10.9 10.1 LT6.1 5.3 8.0 12.5 15.7 15.5 13.5 12.0 10.5 9.2 LU4.5i4.6i4.7 4.9 4.8 4.8 5.3 5.7 6.1 6.3 HU7.4 7.6i8.4i9.7i10.7 11.1 10.7 9.6 8.2 6.5 MT6.7 6.4 6.5 6.6 6.7 6.5 6.4 6.2 5.9 5.3 NL5.0 4.3 4.1 4.4 4.8 5.3 6.0 6.8 7.2 6.8 AT5.3 4.8 4.8 4.7 4.9 4.8 5.0 5.3 5.6 5.8 PL13.8 10.2 8.3i8.3i9.2i9.8 10.0 9.8 8.9 7.6 PT8.9 8.9 9.5 10.5 11.9 13.6 15.0 15.4 14.4 12.6 RO6.9 6.4 6.2 6.4 6.9 7.0 7.0 6.9 6.9 6.5 SI5.8 5.1 5.1 5.9 7.1 8.1 9.1 9.6 9.6 8.9 SK13.7 11.4 11.0 12.1 13.4i14.1i14.0i13.8 13.0 11.5 FI7.7 7.0 7.2 7.7 8.1 8.0 7.9 8.2 8.8 9.0 SE7.0 6.5 6.9 7.7 8.2 8.1 7.9 8.0 7.8 7.4 UK5.2 5.4 6.2 7.0 7.8 7.9 7.8 7.2 6.3 5.4 Theunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforce,basedonInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthethreefollowingconditions:werenotemployedduringthereferenceweek;areavailabletostartworkwithinthenexttwoweeksfollowingthereferenceweekandhavebeenactivelyseekingworkinthepastfourweekspreceedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhethree-yearbackwardmovingaverage.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS). The survey covers the resident population in private households.1) i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.15: Unemployment rate (%) 

58 

2007200820092010201120122013201420152016BE7.5 7.0 7.9 8.3 7.2 7.6 8.4 8.5 8.5 7.8 BG6.9 5.6 6.8 10.3i11.3 12.3 13.0 11.4 9.2 7.6 CZ5.3 4.4 6.7 7.3 6.7 7.0 7.0 6.1 5.1 4.0 DK3.8 3.4 6.0 7.5 7.6 7.5 7.0 6.6 6.2 6.2 DE8.5 7.4 7.6 7.0 5.8 5.4 5.2 5.0 4.6 4.1 EE4.6 5.5i13.5 16.7 12.3 10.0 8.6 7.4 6.2 6.8 IE4.7 6.4 12.0 13.9 14.7 14.7 13.1 11.3 9.4 7.9 EL8.4 7.8 9.6 12.7 17.9 24.5 27.5 26.5 24.9 23.6 ES8.2 11.3 17.9 19.9 21.4 24.8 26.1 24.5 22.1 19.6 FR8.0 7.4 9.1 9.3 9.2 9.8 10.3 10.3 10.4 10.1 HR9.9 8.6 9.3 11.8 13.7 15.8 17.4 17.2 16.1 13.4 IT6.1 6.7 7.7 8.4 8.4 10.7 12.1 12.7 11.9 11.7 CY3.9 3.7 5.4 6.3 7.9 11.9 15.9 16.1 15.0 13.0 LV6.1 7.7 17.5 19.5 16.2 15.0 11.9 10.8 9.9 9.6 LT4.3 5.8 13.8 17.8 15.4 13.4 11.8 10.7 9.1 7.9 LU4.2 4.9 5.1 4.6 4.8 5.1 5.9 6.0 6.5 6.3 HU7.4 7.8i10.0 11.2 11.0 11.0 10.2 7.7 6.8 5.1 MT6.5 6.0 6.9 6.9 6.4 6.3 6.4 5.8 5.4 4.7 NL4.2 3.7 4.4 5.0 5.0 5.8 7.3 7.4 6.9 6.0 AT4.9 4.1 5.3 4.8 4.6 4.9 5.4 5.6 5.7 6.0 PL9.6 7.1 8.1i9.7 9.7 10.1 10.3 9.0 7.5 6.2 PT9.1 8.8 10.7 12.0 12.9 15.8 16.4 14.1 12.6 11.2 RO6.4 5.6 6.5 7.0 7.2 6.8 7.1 6.8 6.8 5.9 SI4.9 4.4 5.9 7.3 8.2 8.9 10.1 9.7 9.0 8.0 SK11.2 9.6 12.1 14.5 13.7i14.0 14.2 13.2 11.5 9.7 FI6.9 6.4 8.2 8.4 7.8 7.7 8.2 8.7 9.4 8.8 SE6.1 6.2 8.3 8.6 7.8 8.0 8.0 7.9 7.4 6.9 UK5.3 5.6 7.6 7.8 8.1 7.9 7.5 6.1 5.3 4.8 Theunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforce,basedonInternationalLabourOffice(ILOTheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforce,basedonInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthethreefollowingconditions:werenotemployedduringthereferenceweek;areavailabletostartworkwithinthenexttwoweeksfollowingthereferenceweekandhavebeenactivelyseekingworkinthepastfourweekspreceedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIP Scoreboard indicator is the three-year backward moving average. The data source is the quarterly EU Labour Force Survey (EU LFS). The survey covers the resident population in private households.1) i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.16: Total financial sector liabilities, non-consolidated (1 year % change) 

59 

2007200820092010201120122013201420152016BE14.7 -4.4 0.8 -1.4 5.4 -5.2 0.9 2.7 2.7 1.2 BG29.3 -0.8 1.3 -5.4 5.4 10.2 4.3 5.6 6.2 11.1 CZ15.5 6.0 2.5 3.2 4.3 5.2 11.4 5.2 8.1 14.5 DK10.2 0.0 5.6 9.7 1.6 2.5 1.8 7.3 -1.0 3.3 DE8.2 4.6 -6.3 -1.1 2.9 3.3 -6.2 4.5 2.9 5.2 EE27.9 4.3 -7.8 -8.9 -0.6 10.4 10.4 13.1 8.7 7.2 IE9.6 6.5 3.4 6.3 -2.2 -1.8 0.3 19.5 9.7 2.5 EL22.2 4.4 10.1 8.3 -3.7 -2.6 -17.2 -8.4 15.6 -16.6 ES16.8 3.8 3.8 -1.8 3.0 2.9 -10.9 -0.4 -1.3 0.9 FR12.6 1.9 0.1 3.3 6.7 1.2 0.4 5.3 1.7 4.3 HR23.6 -8.2 5.0 3.1 2.6 1.0 3.2 0.2 2.1 2.5 IT0.6 -0.8 5.0 4.2 5.0 7.3 -2.6 0.5 1.5 3.2 CY27.2 115.7 11.7 8.4 -6.1 6.3 -15.3 -3.7 11.1 0.7 LV36.7 9.0 -9.2 -0.3 -4.1 5.2 5.2 10.4 12.2 5.8 LT34.6 4.2 -4.7 0.3 2.5 -1.0 -1.4 16.2 7.0 16.3 LU13.7 -6.4 6.3 11.6 11.0 13.2 10.4 33.1 12.2 7.5 HU23.7 26.1 1.9 -0.3 6.3 -5.8 -1.2 8.6 0.6 19.5 MT44.0 13.2 4.3 12.4 11.0 6.1 1.6 6.4 1.3 1.7 NL14.9 3.8 8.2 5.9 9.0 5.0 -1.1 7.7 3.6 5.3pAT11.0 10.9 -2.0 -1.9 1.5 0.4 -3.2 -0.8 -0.1 -2.4 PL18.4 6.8 9.0 13.6 4.8 10.7 7.4 0.7 2.4 8.9 PT10.2 4.4 8.9 11.5 -4.5 -3.0 -5.4 -7.5 -1.8 -0.2 RO35.3 14.0 16.0 5.0 4.6 4.4 0.8 1.3 4.0 7.6 SI28.6 6.6 7.7 -3.4 -1.2 -0.7 -10.3 -0.2 -3.7 3.2 SK25.7 10.5 -4.7 1.6 0.3 0.7 1.7 8.7 10.8 8.5 FI10.2 16.8 7.8 19.8 28.7 -1.1 -11.7 8.9 1.2 4.5 SE9.5 12.0 3.5 2.7 3.0 5.4 9.0 13.0 2.4 9.0 UK16.8 46.9 -17.0 7.3 10.4 -3.6 -7.7 4.7 -8.8 11.6 (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatThetotalfinancialcorporationssectorliabilitiesmeasurestheevolutionofthesumofallliabilities(whichincludesCurrencyanddeposits(F.2),Debtsecurities(F.3),Loans(F.4),Equityandinvestmentfundshares(F.5),Insurance,pensionsandstandardisedguarantees(F.6),Financialderivativesandemployeestockoptions(F.7)andOtheraccountspayable(F.8))ofthefinancialcorporationssector(S.12).Dataarepresentedinnon-consolidatedterms,i.e.datatakeintoaccounttransactionswithinthesamesectorandexpressedasoneyearpercentagechange.TheindicatorisbasedonNationalaccountsdata.Definitionsregardingsectorsandinstruments are based on the ESA 2010 transmission programme.Flags:p:Provisional.  
 
 
 
 
 
 
 
 
 
Table 3.17: Total financial sector liabilities, non-consolidated (Millions NC) 

60 

2007200820092010201120122013201420152016BE2298754.4 2197522.4 2214777.2 2184691.4 2301818.4 2181655.5 2202190.2 2261049.3 2321352.7 2349644.4 BG124696.0 123667.0 125274.0 118468.0 124924.0 137672.0 143539.0 151616.0 161054.0 178940.0 CZ5810385.0 6157737.0 6312649.0 6516094.0 6794617.0 7147743.0 7963007.0 8374718.0 9052648.0 10369131.0 DK12241227.0 12236022.0 12924706.0 14179420.0 14409675.0 14775965.0 15040150.0 16139464.0 15977498.0 16500798.0 DE13005662.0 13603537.0 12740354.0 12604991.0 12968900.0 13398237.0 12561910.0 13124653.0 13507364.0 14203020.0 EE32164.4 33535.3 30912.7 28154.9 27980.0 30896.6 34121.1 38585.6 41947.1 44961.7 IE3154780.0 3360222.0 3473127.0 3691722.0 3608777.0 3542735.0 3551994.0 4245295.0 4657858.0 4773784.0 EL526269.2 549382.9 604986.2 655455.2 630921.1 614267.9 508495.4 465616.4 538234.7 448883.7 ES4558453.0 4733935.0 4916111.0 4827731.0 4972402.0 5114934.0 4556067.0 4535719.0 4477709.0 4516181.0 FR10865095.0 11076239.0 11083215.0 11444469.0 12206701.0 12354924.0 12403107.0 13065655.0 13294195.0 13863803.0 HR615724.3 565166.5 593498.5 611930.5 627679.6 634188.0 654639.9 656163.2 669747.2 686431.1 IT4808702.0 4769724.0 5009935.0 5219483.0 5477937.0 5876568.0 5724475.0 5751142.0 5836498.0 6021199.0 CY131103.8 282814.7 315835.5 342418.9 321505.5 341873.5 289615.6 278975.1 309973.1 312204.8 LV40065.0 43669.8 39659.1 39536.4 37903.6 39875.6 41956.1 46314.6 51959.0 54982.0 LT35974.0 37467.4 35706.1 35811.9 36710.4 36331.2 35826.0 41612.9 44511.0 51778.1 LU5877167.4 5503848.8 5851725.1 6528639.5 7246047.1 8202279.7 9059069.6 12061465.9 13527222.6 14546505.7 HU71315302.0 89933298.0 91641423.0 91374263.0 97091429.0 91464660.0 90397402.0 98150836.0 98776758.0 118062947.0 MT141806.5 160550.1 167530.7 188323.8 209016.7 221698.2 225137.3 239533.7 242723.5 246913.8 NL6621557.0 6872447.0 7435258.0 7871665.0 8581600.0 9012779.0 8913693.0 9600551.0 9946847.0 10471161.0pAT1420781.1 1575738.2 1543904.0 1514665.3 1537010.7 1543115.1 1493546.2 1481804.0 1480246.7 1444566.4 PL1625229.0 1735191.0 1890638.0 2148278.0 2251923.0 2492477.0 2676756.0 2694340.0 2759900.0 3006213.0 PT783594.3 818444.7 891105.7 993723.8 948903.5 920876.4 871566.7 805840.8 791078.0 789158.4 RO418491.8 476992.4 553326.4 581084.6 607584.9 634292.4 639179.4 647200.1 673322.5 724796.1 SI68240.0 72748.0 78338.0 75678.0 74747.0 74212.0 66581.0 66457.0 64008.0 66072.0 SK87819.9 97052.4 92500.3 93992.1 94316.6 95021.6 96677.4 105042.2 116429.4 126278.2 FI448537.0 523685.0 564326.0 676198.0 870299.0 860854.0 760072.0 827466.0 837688.0 875365.0 SE14309023.0 16028473.0 16582889.0 17027970.0 17537292.0 18484759.0 20141202.0 22765829.0 23316479.0 25422314.0 UK16077778.0 23612700.0 19606560.0 21032020.0 23209716.0 22376548.0 20652700.0 21623312.0 19725584.0 22010520.0 Thetotalfinancialcorporationssectorliabilitiesmeasurestheevolutionofthesumofallliabilities(whichincludesCurrencyanddeposits(F.2),Debtsecurities(F.3),Loans(F.4),Equityandinvestmentfundshares(F.5),Insurance,pensionsandstandardisedguarantees(F.6),Financialderivativesandemployeestockoptions(F.7)andOtheraccountspayable(F.8))ofthefinancialcorporationssector(S.12).Dataarepresentedinnon-consolidatedterms,i.e.datatakeintoaccounttransactionswithinthesamesectorandexpressedasoneyearpercentagechange.TheindicatorisbasedonNationalaccountsdata.Definitionsregardingsectorsandinstruments are based on the ESA 2010 transmission programme.Flags:p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.18: Activity rate - % of total population aged 15-64 (3 year change in p.p.) 

61 

2007200820092010201120122013201420152016BE1.2 0.4 0.4 0.6 -0.4 0.0 -0.2 1.0 0.7 0.1 BG4.5 5.7 2.7 0.4b-1.9b-0.1 1.7b3.1b2.2 0.3 CZ-0.1 -0.7 -0.2 0.3 0.8b1.5 2.7 3.0b2.4 2.1 DK0.0 0.9 -0.4 -0.7 -1.4 -1.6 -1.3 -1.2 -0.1 1.9bDE3.0e2.1b1.4 1.1b1.4b0.9 0.9b0.4b0.4 0.3 EE2.7 3.5 1.2 0.7 0.5 0.8 1.2 0.5 1.9 2.4 IE3.1b1.3 -1.3b-3.2b-2.9 -1.4b0.4 0.6 0.8 0.7 EL0.3b0.3 0.7b1.3 0.6 0.1b-0.3 0.1 0.3 0.7 ES2.9 2.7b2.0 1.7 1.2 1.2 0.8 0.3 0.0 -0.1 FR0.0 0.2 0.6 0.5 0.3 0.5 0.9 1.4 1.0 0.7 HR2.2e2.5e2.6e-0.6 -1.7 -1.7 -1.4 2.0 3.0 1.9 IT-0.4b0.4 -0.3 -0.4 -0.8 1.2 1.4 1.8 0.5 1.5 CY1.3e1.2 0.0b-0.3 -0.1 0.5b0.0 0.8 0.4 -0.2 LV3.3 5.1 2.5 0.4 -1.4 0.9 1.0 1.8 1.3 2.3 LT-1.3 -0.3 2.0 2.3 3.0 2.2 2.2 2.3 2.3 3.1 LU1.1b0.2 2.0b1.3b1.1 0.7b1.7 2.9 1.5b0.1 HU1.1 -0.1 -0.8 0.3 1.2 2.5 2.8 4.6 4.9 5.4 MT0.6 1.5b1.5 1.6 2.7 3.7 4.6 4.5 4.5 4.1 NL1.9 2.4 2.3 -0.3b-1.2b-0.7 1.2b0.9b0.6 0.3 AT3.1b2.5 1.9 0.9b0.7 0.8 1.1 0.8 0.4 0.7 PL-0.8b-0.6 1.3 2.1b1.9 1.8 1.7b2.2 1.6 1.8 PT1.2 0.7 -0.2 -0.2 -0.3b0.0 -0.7 -0.4b0.0 0.7 RO0.0 0.6 -0.5 1.9b1.2 1.7 0.0b1.6 1.3 0.7 SI1.5 1.1 0.9 0.2 -1.5 -1.4 -1.0 0.6 1.4 1.1 SK-1.4 -0.1 -0.2 0.4 -0.1b1.0 1.2 1.6b1.5 2.0 FI1.4 1.3 -0.2 -1.1 -1.1 0.2 0.7 0.5 0.6 0.7 SE1.9 1.1b0.1 0.0 0.6 1.4 2.0 1.6 1.4 1.0 UK0.2b0.4b0.0 -0.1b-0.3b0.4 1.0 1.2 0.8 0.9 Theactivityrateisthepercentageofeconomicallyactivepopulationaged15-64onthetotalpopulationofthesameage.AccordingtothedefinitionsoftheInternationalLabourOrganisation(ILO)forthepurposesofthelabourmarketstatisticspeopleareclassifiedasemployed,unemployedandeconomicallyinactive.Theeconomicallyactivepopulation(alsocalledlabourforce)isthesumofemployedandunemployedpersons.Inactivepersonsarethosewho,duringthereferenceweek,wereneitheremployednorunemployed.TheMIPScoreboardindicatoristhethreeyearchangeinpercentagepoints.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS).The survey covers the resident population in private households.Flags:b:Break in series. e:Estimated. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
Table 3.19: Activity rate - % of total population aged 15-64 

62 

2007200820092010201120122013201420152016BE67.1 67.1 66.9 67.7 66.7 66.9 67.5 67.7 67.6 67.6 BG66.3 67.8 67.2 66.7b65.9b67.1 68.4 69.0 69.3 68.7 CZ69.9 69.7 70.1 70.2 70.5b71.6 72.9 73.5 74.0 75.0 DK80.1 80.7 80.2 79.4 79.3 78.6 78.1 78.1 78.5 80.0bDE75.6 75.9 76.3 76.7b77.3b77.2 77.6 77.7 77.6 77.9 EE73.2 74.2 74.0 73.9 74.7 74.8 75.1 75.2 76.7 77.5 IE72.6b72.1 70.6b69.4 69.2 69.2 69.8 69.8 70.0 70.5 EL66.5 66.7 67.4b67.8 67.3 67.5 67.5 67.4 67.8 68.2 ES71.8 72.7 73.1 73.5 73.9 74.3 74.3 74.2 74.3 74.2 FR69.3 69.4 69.8 69.8 69.7 70.3 70.7 71.1 71.3 71.4 HR65.7 65.8 65.6 65.1 64.1 63.9 63.7 66.1 66.9 65.6 IT62.4 62.9 62.3 62.0 62.1 63.5 63.4 63.9 64.0 64.9 CY73.9 73.6 73.0b73.6 73.5 73.5 73.6 74.3 73.9 73.4 LV72.6 74.2 73.5 73.0 72.8 74.4 74.0 74.6 75.7 76.3 LT67.9 68.4 69.6 70.2 71.4 71.8 72.4 73.7 74.1 75.5 LU66.9b66.8 68.7b68.2 67.9 69.4 69.9 70.8 70.9b70.0 HU61.6 61.2 61.2 61.9 62.4 63.7 64.7 67.0 68.6 70.1 MT58.8 59.1 59.4 60.4 61.8 63.1 65.0 66.3 67.6 69.1 NL78.5 79.3 79.7 78.2b78.1b79.0 79.4 79.0 79.6 79.7 AT73.5b73.9 74.3 74.4 74.6 75.1 75.5 75.4 75.5 76.2 PL63.2 63.8 64.7 65.3b65.7 66.5 67.0 67.9 68.1 68.8 PT73.9 73.9 73.4 73.7 73.6b73.4 73.0 73.2 73.4 73.7 RO63.0 62.9 63.1 64.9b64.1 64.8 64.9 65.7 66.1 65.6 SI71.3 71.8 71.8 71.5 70.3 70.4 70.5 70.9 71.8 71.6 SK68.3 68.8 68.4 68.7 68.7b69.4 69.9 70.3 70.9 71.9 FI75.6 76.0 75.0 74.5 74.9 75.2 75.2 75.4 75.8 75.9 SE79.1 79.3 78.9 79.1 79.9 80.3 81.1 81.5 81.7 82.1 UK75.5b75.8b75.7 75.4 75.5 76.1 76.4 76.7 76.9 77.3 Theactivityrateisthepercentageofeconomicallyactivepopulationaged15-64onthetotalpopulationofthesameage.AccordingtothedefinitionsoftheInternationalLabourOrganisation(ILO)forthepurposesofthelabourmarketstatisticspeopleareclassifiedasemployed,unemployedandeconomicallyinactive.Theeconomicallyactivepopulation(alsocalledlabourforce)isthesumofemployedandunemployedpersons.Inactivepersonsarethose who, during the reference week, were neither employed nor unemployed. The data source is the quarterly EU Labour Force Survey (EU LFS). The survey covers the resident population in private households.Flags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.20: Long-term unemployment rate - % of active population aged 15-74 (3 year change in p.p.) 

63 

2007200820092010201120122013201420152016BE-0.3 -1.1 -0.7 0.2 0.2 -0.1 -0.1 0.8 1.0 0.1 BG-3.1 -3.1 -2.0 0.6b3.4b3.8 2.7 0.6 -1.2 -2.9 CZ-1.4 -2.0 -1.9 0.2 0.5b1.0 0.0 0.0 -0.6 -1.3 DK-0.6 -0.6 -0.2 0.9 1.3 1.5 0.3 -0.1 -0.4 -0.4bDE-0.6 -2.0 -2.2 -1.6b-1.1b-1.1 -1.0 -0.6 -0.4 -0.6 EE-2.9 -2.7 0.8 5.3 5.4 1.8 -3.8 -3.8 -3.1 -1.7 IE-0.2b0.3 2.1b5.4 6.9 5.5 1.0 -2.0 -3.7 -3.6 EL-1.4 -1.5 -1.0b1.5 5.1 10.6 12.8 10.7 3.7 -1.5 ES-1.8 -0.2 2.5 5.6 6.9 6.7 5.7 4.0 0.4 -3.5 FR-0.4e-0.8e-0.5e0.6e1.1e0.8e0.5e0.5 0.5 0.2 HR-1.3 -1.7 -1.3 0.6 3.1 5.1 4.4 1.7 0.0 -4.4 IT-0.9 -0.7 0.1 1.1 1.3 2.2 2.9 3.4 1.3 -0.2 CY-0.6 -0.8 -0.3b0.6 1.1 3.0 4.8 6.1 3.2 -0.3 LV-3.4 -2.6 2.1 7.2 6.9 3.3 -3.1 -4.2 -3.3 -1.7 LT-4.2u-3.1u0.7 6.0 6.7 3.3 -2.3 -3.2 -2.7 -2.1 LU0.1b0.4 -0.2b0.1 -0.2 0.4 0.5 0.2 0.3b0.4 HU0.8 0.4 0.8 2.0 1.6 0.8 -0.6 -1.5 -1.9 -2.5 MT-0.7 -0.8 0.2 0.4 0.4 0.2 -0.2 -0.3 -0.7 -1.0 NL-0.3 -1.0 -0.9 0.0b0.7b1.1 1.3 1.3 1.1 0.0 AT-0.2b-0.4 -0.3 -0.1 0.2 0.0 0.1 0.3 0.5 0.6 PL-5.4 -7.9 -5.3 -1.9b1.2 1.6 1.4 0.2 -1.1 -2.2 PT0.8 -0.1 0.3 1.9 2.6b3.5 3.6 2.2 -0.5 -3.1 RO-1.6 -1.6 -1.9 -0.8b0.5 0.8 0.8 -0.1 0.0 -0.2 SI-1.1 -1.2 -1.1 1.0 1.7 2.5 2.0 1.7 0.4 -0.9 SK-3.5 -5.1 -3.7 0.9 2.6b2.9 0.8 0.1 -1.8 -4.2 FI-0.6 -0.9 -0.5 0.5 0.5 0.2 -0.3 0.2 0.7 0.6 SE-0.5 -0.3 0.1 0.8 0.7 0.4 -0.2 -0.1 0.0 -0.1 UK0.3 0.4 0.7 1.2 1.3 0.8 0.2 -0.5 -1.1 -1.4 Thelong-termunemploymentrateisthenumberofpersonsunemployedfor12monthsorlongerasapercentageofthelabourforce(i.e.economicallyactivepopulation).Theunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed)basedonInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthethreefollowingconditions:werenotemployedduringthereferenceweek;areavailabletostartworkwithinthenexttwoweeksfollowingthereferenceweekandhavebeenactivelyseekingworkinthepastfourweekspreceedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhethreeyearchangeinpercentagepoints.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS). The survey covers the resident population in private households.Flags:b:Break in series. e:Estimated. u:Low reliability. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
Table 3.21: Long-term unemployment rate - % of active population aged 15-74 

64 

2007200820092010201120122013201420152016BE3.8 3.3 3.5 4.0 3.5 3.4 3.9 4.3 4.4 4.0 BG4.1 2.9 3.0 4.7b6.3b6.8 7.4 6.9 5.6 4.5 CZ2.8 2.2 2.0 3.0 2.7b3.0 3.0 2.7 2.4 1.7 DK0.6 0.5 0.6 1.5 1.8 2.1 1.8 1.7 1.7 1.4bDE4.9 3.9 3.5 3.3b2.8b2.4 2.3 2.2 2.0 1.7 EE2.3 1.7 3.7 7.6 7.1 5.5 3.8 3.3 2.4 2.1 IE1.4b1.7 3.5b6.8 8.6 9.0 7.8 6.6 5.3 4.2 EL4.2 3.7 3.9b5.7 8.8 14.5 18.5 19.5 18.2 17.0 ES1.7 2.0 4.3 7.3 8.9 11.0 13.0 12.9 11.4 9.5 FR3.3e2.9e3.3e3.9e4.0e4.1e4.4e4.5 4.6 4.6 HR6.0 5.3 5.1 6.6 8.4 10.2 11.0 10.1 10.2 6.6 IT2.9 3.0 3.4 4.0 4.3 5.6 6.9 7.7 6.9 6.7 CY0.7 0.5 0.6b1.3 1.6 3.6 6.1 7.7 6.8 5.8 LV1.6 1.9 4.5 8.8 8.8 7.8 5.7 4.6 4.5 4.0 LT1.4u1.3u3.3 7.4 8.0 6.6 5.1 4.8 3.9 3.0 LU1.2b1.6 1.2b1.3 1.4 1.6 1.8 1.6 1.9b2.2 HU3.5 3.6 4.2 5.5 5.2 5.0 4.9 3.7 3.1 2.4 MT2.7 2.6 2.9 3.1 3.0 3.1 2.9 2.7 2.4 1.9 NL1.2 0.9 0.8 1.2b1.6b1.9 2.5 2.9 3.0 2.5 AT1.3b1.0 1.2 1.2 1.2 1.2 1.3 1.5 1.7 1.9 PL4.9 2.4 2.5 3.0b3.6 4.1 4.4 3.8 3.0 2.2 PT3.8 3.6 4.2 5.7 6.2b7.7 9.3 8.4 7.2 6.2 RO3.2 2.4 2.2 2.4b2.9 3.0 3.2 2.8 3.0 3.0 SI2.2 1.9 1.8 3.2 3.6 4.3 5.2 5.3 4.7 4.3 SK8.3 6.6 6.5 9.2 9.2b9.4 10.0 9.3 7.6 5.8 FI1.5 1.2 1.4 2.0 1.7 1.6 1.7 1.9 2.3 2.3 SE0.8 0.8 1.1 1.6 1.5 1.5 1.4 1.4 1.5 1.3 UK1.3 1.4 1.9 2.5 2.7 2.7 2.7 2.2 1.6 1.3 Thelong-termunemploymentrateisthenumberofpersonsunemployedfor12monthsorlongerasapercentageofthelabourforce(i.e.economicallyactivepopulation).Unemployedpersonscomprisepersonsaged15to74whofulfilallthethreefollowingconditions:werenotemployedduringthereferenceweek;areavailabletostartworkwithinthenexttwoweeksfollowingthereferenceweekandhavebeenactivelyseekingworkinthepastfourweekspreceedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS).Thesurveycoverstheresidentpopulationinprivatehouseholds.Flags:b:Break in series. e:Estimated. u:Low reliability. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.22: Youth unemployment rate - % of active population aged 15-24 (3 year change in p.p.)  

65 

2007200820092010201120122013201420152016BE-2.4 -3.5 1.4 3.6 0.7 -2.1 1.3 4.5 2.3 -3.6 BG-10.2 -9.1 -3.2 7.8i13.1 13.0 6.5 -1.2 -6.5 -11.2 CZ-9.7 -9.4 -0.9 7.6 8.2 2.9 0.6 -2.2 -6.9 -8.4 DK-0.7 -0.6 4.1 6.4 6.2 2.3 -0.9 -1.6 -3.3 -1.0 DE-1.9 -5.0 -2.5 -2.0 -1.9 -3.1 -2.0 -0.8 -0.8 -0.7 EE-13.8 -3.1i15.3 22.8 10.4 -6.5 -14.2 -7.4 -7.8 -5.3 IE0.4 4.6 15.3 18.5 15.8 6.4 -0.8 -5.2 -9.5 -9.6 EL-3.8 -3.9 0.7 10.3 22.8 29.6 25.3 7.7 -5.5 -11.0 ES-3.9 4.9 19.8 23.4 21.7 15.2 14.0 7.0 -4.6 -11.1 FR-0.9 -2.0 1.6 3.8 3.7 0.8 1.6 1.5 0.3 -0.3 HR-7.5 -8.1 -3.5 6.9 13.0 16.8 17.6 8.3 0.1 -18.1 IT-3.1 -2.9 3.5 7.5 8.0 10.0 12.1 13.5 5.0 -2.2 CY0.0 -4.9 3.8 6.4 13.4 13.9 22.3 13.6 5.1 -9.8 LV-9.4 -1.5 19.7 25.6 17.4 -4.8 -13.0 -11.4 -12.2 -5.9 LT-13.4 -2.5 19.6 27.3 19.3 -2.9 -13.8 -13.3 -10.4 -7.4 LU-0.8 2.7 1.0 0.2 -0.9 1.5 1.1 5.9 -1.4 2.2 HU2.6 0.1i7.3 8.3 6.5 1.8 0.2 -5.6 -10.9 -13.7 MT-3.1 -4.4 -1.0 -0.3 1.6 -0.4 -0.2 -1.6 -2.3 -2.0 NL-2.0 -3.2 0.2 1.7 1.4 1.5 2.1 2.7 -0.4 -2.4 AT-1.1 -2.5 0.9 0.1 0.4 -1.3 0.2 1.4 1.2 1.5 PL-18.0 -19.7 -9.2i2.1 8.6 5.9 3.6 -1.9 -5.7 -9.6 PT1.7 0.8 4.1 6.8 8.6 12.7 9.9 4.5 -6.0 -9.9 RO-1.2 -1.5 -0.2 2.8 6.3 2.6 1.6 0.1 -0.9 -3.1 SI-6.0 -5.5 -0.3 4.6 5.3 7.0 6.9 4.5 -4.3 -6.4 SK-12.8 -11.1 0.6 13.3 14.4i6.4 -0.2 -4.0 -7.5 -11.5 FI-4.2 -3.6 2.8 4.9 3.6 -2.5 -1.5 0.4 3.4 0.2 SE-1.2 -2.4 3.5 5.6 2.6 -1.3 -1.2 0.1 -3.3 -4.7 UK2.3 2.2 5.2 5.6 6.3 2.1 0.8 -4.3 -6.6 -7.7 Theyouthunemploymentrateistheunemploymentrateofpeopleaged15-24asapercentageofthelabourforceofthesameage.Theunemploymentrateisthenumberofunemployedpersonsasapercentageoftheeconomicallyactivepopulation(thetotalnumberofpeopleemployedandunemployed=labourforce)basedonInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthethreefollowingconditions:werenotemployedduringthereferenceweek;areavailabletostartworkwithinthenexttwoweeksfollowingthereferenceweekandhavebeenactivelyseekingworkinthepastfourweekspreceedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhethreeyearchangeinpercentagepoints.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS). The survey covers the resident population in private households.1) i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
Table 3.23: Youth unemployment rate - % of active population aged 15-24 

66 

2007200820092010201120122013201420152016BE18.8 18.0 21.9 22.4 18.7 19.8 23.7 23.2 22.1 20.1 BG14.1 11.9 15.1 21.9i25.0 28.1 28.4 23.8 21.6 17.2 CZ10.7 9.9 16.6 18.3 18.1 19.5 18.9 15.9 12.6 10.5 DK7.5 8.0 11.8 13.9 14.2 14.1 13.0 12.6 10.8 12.0 DE11.8 10.4 11.1 9.8 8.5 8.0 7.8 7.7 7.2 7.1 EE10.1 12.0i27.4 32.9 22.4 20.9 18.7 15.0 13.1 13.4 IE9.1 13.3 24.0 27.6 29.1 30.4 26.8 23.9 20.9 17.2 EL22.7 21.9 25.7 33.0 44.7 55.3 58.3 52.4 49.8 47.3 ES18.1 24.5 37.7 41.5 46.2 52.9 55.5 53.2 48.3 44.4 FR19.5 19.0 23.6 23.3 22.7 24.4 24.9 24.2 24.7 24.6 HR25.4 23.6 25.4 32.3 36.6 42.2 49.9 44.9 42.3 31.8 IT20.4 21.2 25.3 27.9 29.2 35.3 40.0 42.7 40.3 37.8 CY10.2 9.0 13.8 16.6 22.4 27.7 38.9 36.0 32.8 29.1 LV10.6 13.6 33.3 36.2 31.0 28.5 23.2 19.6 16.3 17.3 LT8.4 13.3 29.6 35.7 32.6 26.7 21.9 19.3 16.3 14.5 LU15.6 17.3 16.5 15.8 16.4 18.0 16.9 22.3 16.6 19.1 HU18.1 19.5i26.4 26.4 26.0 28.2 26.6 20.4 17.3 12.9 MT13.5 11.7 14.5 13.2 13.3 14.1 13.0 11.7 11.8 11.0 NL9.4 8.6 10.2 11.1 10.0 11.7 13.2 12.7 11.3 10.8 AT9.4 8.5 10.7 9.5 8.9 9.4 9.7 10.3 10.6 11.2 PL21.6 17.2 20.6i23.7 25.8 26.5 27.3 23.9 20.8 17.7 PT21.4 21.6 25.3 28.2 30.2 38.0 38.1 34.7 32.0 28.2 RO19.3 17.6 20.0 22.1 23.9 22.6 23.7 24.0 21.7 20.6 SI10.1 10.4 13.6 14.7 15.7 20.6 21.6 20.2 16.3 15.2 SK20.6 19.3 27.6 33.9 33.7i34.0 33.7 29.7 26.5 22.2 FI16.5 16.5 21.5 21.4 20.1 19.0 19.9 20.5 22.4 20.1 SE19.2 20.2 25.0 24.8 22.8 23.7 23.6 22.9 20.4 18.9 UK14.3 15.0 19.1 19.9 21.3 21.2 20.7 17.0 14.6 13.0 Theyouthunemploymentrateistheunemploymentrateofpeopleaged15-24asapercentageofthelabourforceofthesameage.Theunemploymentrateisthenumberofunemployedpersonsasapercentageoftheeconomicallyactivepopulation(thetotalnumberofpeopleemployedandunemployed=labourforce)basedonInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthethreefollowingconditions:werenotemployedduringthereferenceweek;areavailabletostartworkwithinthenexttwoweeksfollowingthereferenceweekandhavebeenactivelyseekingworkinthepastfourweekspreceedingthe reference week or have already found a job to start within the next three months. The data source is the quarterly EU Labour Force Survey (EU LFS). The survey covers the resident population in private households.1) i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.24: Real GDP (1 year % change) 

67 

2007200820092010201120122013201420152016BE3.4 0.8 -2.3 2.7 1.8 0.2 0.2 1.4 1.4 1.5 BG7.3 6.0 -3.6 1.3 1.9 0.0 0.9 1.3 3.6 3.9 CZ5.6 2.7 -4.8 2.3 1.8 -0.8 -0.5 2.7 5.3 2.6 DK0.9 -0.5 -4.9 1.9 1.3 0.2 0.9 1.7 1.6 1.7 DE3.3 1.1 -5.6 4.1 3.7 0.5 0.5 1.9 1.7 1.9 EE7.7 -5.4 -14.7 2.3 7.6 4.3 1.9 2.9 1.7 2.1 IE5.2 -3.9 -4.6 1.8 3.0 0.0 1.6 8.3 25.6 5.1 EL3.3 -0.3 -4.3 -5.5 -9.1p-7.3p-3.2p0.7p-0.3p-0.2pES3.8 1.1 -3.6 0.0 -1.0 -2.9 -1.7 1.4 3.4p3.3pFR2.4 0.2 -2.9 2.0 2.1 0.2 0.6 0.9 1.1p1.2pHR5.2 2.1 -7.4 -1.4 -0.3 -2.2 -0.6 -0.1 2.3 3.0eIT1.5 -1.1 -5.5 1.7 0.6 -2.8 -1.7 0.1 1.0 0.9 CY4.8 3.9 -1.8 1.3 0.3 -3.1 -5.9 -1.4 2.0 3.0pLV10.0 -3.5 -14.4 -3.9 6.4 4.0 2.6 1.9 2.8 2.1 LT11.1 2.6 -14.8 1.6 6.0 3.8 3.5 3.5 2.0 2.3 LU8.4 -1.3 -4.4 4.9 2.5 -0.4 3.7 5.8 2.9 3.1 HU0.4 0.9 -6.6 0.7 1.7 -1.6 2.1 4.2 3.4 2.2 MT4.0 3.3 -2.5 3.5 1.4 2.6 4.6 8.2 7.1 5.5 NL3.7 1.7 -3.8 1.4 1.7 -1.1 -0.2 1.4 2.3 2.2pAT3.7 1.5 -3.8 1.8 2.9 0.7 0.0 0.8 1.1 1.5 PL7.0 4.2 2.8 3.6 5.0 1.6 1.4 3.3 3.8 2.9 PT2.5 0.2 -3.0 1.9 -1.8 -4.0 -1.1 0.9 1.8 1.5pRO6.9 8.5 -7.1 -0.8 1.1 0.6 3.5 3.1 4.0 4.6pSI6.9 3.3 -7.8 1.2 0.6 -2.7 -1.1 3.0 2.3 3.1 SK10.8 5.6 -5.4 5.0 2.8 1.7 1.5 2.8 3.9 3.3 FI5.2 0.7 -8.3 3.0 2.6 -1.4 -0.8 -0.6 0.0 1.9 SE3.4 -0.6 -5.2 6.0 2.7 -0.3 1.2 2.6 4.5 3.3 UK2.4 -0.5 -4.2 1.7 1.5 1.5 2.1 3.1 2.3 1.8 Grossdomesticproduct(GDP)atmarketpricesisthefinalresultoftheproductionactivityofresidentproducerunits.Itisdefinedasthevalueofallgoodsandservicesproducedlessthevalueofanygoodsorservicesusedintheir creation. The ESA 2010 (European System of Accounts) regulation may be referred to for more specific explanations on methodology. Data are expressed as percentage change comparing year Y with year Y-1.Flags:e:Estimated. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.25: Gross fixed capital formation (% of GDP) 

68 

2007200820092010201120122013201420152016BE23.2 24.0 22.6 21.8 22.6 22.6 22.2 23.1 23.2 23.4 BG28.3 33.0 27.9 22.2 20.9 21.3 21.1 21.1 21.0 18.6 CZ29.5 29.0 27.1 26.9 26.5 25.9 25.1 25.1 26.5 25.0 DK23.5 22.9 20.2 18.1 18.2 18.8 19.1 19.2 19.2 20.1 DE20.1 20.3 19.2 19.4 20.3 20.1 19.7 20.0 19.9 20.0 EE36.6 31.2 22.7 21.2 26.2 28.6 27.7 24.4 23.6 22.3 IE28.7 24.8 21.1 17.6 16.8 19.7 18.6 20.8 20.3 31.8 EL26.0 23.8 20.8 17.6 15.3p12.6p12.2p11.5p11.5p11.7pES31.0 29.2 24.3 23.0 21.5 19.8 18.8 19.3 19.8p20.0pFR23.1 23.6 22.0 22.1 22.4 22.5 22.1 21.8 21.6p22.0pHR26.828.125.221.220.219.619.719.319.619.9eIT21.6 21.2 20.0 19.9 19.7 18.4 17.2 16.7 16.9 17.1 CY25.5 27.2 23.4 22.3 18.9 15.1 14.1 11.7 13.0 17.5pLV36.4 32.1 22.5 19.4 22.2 25.4 23.2 22.5 22.1 18.2 LT28.6 26.0 17.9 16.9 18.5 17.4 18.5 18.9 19.6 18.9 LU18.4 20.3 18.4 17.6 19.2 20.2 19.5 19.0 17.3 17.2 HU23.6 23.2 22.7 20.2 19.7 19.3 20.9 22.2 21.9 19.2 MT22.4 19.6 18.2 21.4 18.0 18.2 17.5 17.4 25.1 23.8 NL21.8 22.3 21.3 19.7 20.3 18.9 17.9 18.0 19.4 19.9pAT22.9 23.3 22.4 21.6 22.5 22.6 23.0 22.6 22.5 23.1 PL22.5 23.1 21.4 20.3 20.7 19.8 18.8 19.7 20.1 18.1 PT22.5 22.8 21.1 20.5 18.4 15.8 14.8 15.0 15.5 15.3pRO36.0 38.4 26.0 25.9 27.1 27.3 24.7 24.3 24.7 22.7pSI28.8 29.6 24.3 21.3 20.2 19.2 19.8 19.4 18.9 17.6 SK26.8 25.5 21.7 22.1 24.0 21.2 20.7 20.7 23.9 21.2 FI24.2 24.4 22.8 21.9 22.2 22.3 21.2 20.6 20.4 21.5 SE23.9 24.3 22.3 22.3 22.7 22.6 22.3 23.1 23.6 24.0 UK17.7 17.0 15.3 15.3 15.4 15.6 15.8 16.4 16.6 16.4 Grossfixedcapitalformation(GFCF)consistsofresidentproducers'acquisitions,lessdisposals,offixedassetsduringagivenperiodpluscertainadditionstothevalueofnon-producedassetsrealisedbytheproductiveactivityofproducerorinstitutionalunits.GFCFincludesacquisitionlessdisposalsof,e.g.buildings,structures,machineryandequipment,mineralexploration,computersoftware,literaryorartisticoriginalsandmajorimprovementstoland such as the clearance of forests. The input data are obtained through official national accounts' country data in the ESA2010 transmission programme.Flags:p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.26: Gross domestic expenditure on R&D (% of GDP) 

69 

2007200820092010201120122013201420152016BE1.8 1.9 2.0 2.1 2.2 2.3 2.3 2.4 2.5 2.5pBG0.4 0.5 0.5 0.6 0.5 0.6 0.6 0.8 1.0 0.8pCZ1.3 1.2 1.3 1.3 1.6 1.8 1.9 2.0 1.9 1.7pDK2.5b2.8 3.1 2.9 2.9 3.0 3.0 2.9 3.0p2.9eDE2.5 2.6 2.7 2.7 2.8 2.9 2.8 2.9 2.9 2.9eEE1.1 1.3 1.4 1.6 2.3 2.1 1.7 1.5 1.5 naIE1.2 1.4 1.6e1.6e1.6e1.6e1.6e1.5e1.2 1.2eEL0.6e0.7be0.6e0.6e0.7 0.7 0.8 0.8 1.0 1.0pES1.2 1.3 1.4 1.4 1.3 1.3 1.3 1.2 1.2 naFR2.0 2.1 2.2 2.2b2.2 2.2 2.2 2.2 2.2pnaHR0.8 0.9 0.8 0.7 0.8 0.8 0.8 0.8 0.9 0.9pIT1.1 1.2 1.2 1.2 1.2 1.3 1.3 1.4e1.3 naCY0.4 0.4 0.4 0.5 0.5 0.4 0.5 0.5 0.5 naLV0.6 0.6 0.5 0.6 0.7 0.7 0.6 0.7 0.6 0.4pLT0.8 0.8 0.8 0.8 0.9 0.9 1.0 1.0 1.0 0.7pLU1.6e1.6 1.7 1.5 1.5 1.3b1.3 1.3 1.3 naHU1.0 1.0 1.1 1.1 1.2 1.3 1.4 1.4 1.4 1.2 MT0.6 0.5 0.5 0.6 0.7 0.8 0.8 0.7 0.8 0.6pNL1.7 1.6 1.7 1.7 1.9b1.9b2.0 2.0 2.0 naAT2.4 2.6e2.6 2.7e2.7 2.9e3.0 3.1e3.1 3.1pPL0.6 0.6 0.7 0.7 0.8 0.9 0.9 0.9 1.0 naPT1.1 1.5b1.6 1.5 1.5 1.4 1.3 1.3 1.2 1.3pRO0.5 0.6 0.5 0.5 0.5b0.5 0.4 0.4 0.5 naSI1.4 1.6b1.8 2.1 2.4b2.6 2.6 2.4 2.2 naSK0.5 0.5 0.5 0.6 0.7 0.8 0.8 0.9 1.2 0.8 FI3.4 3.6 3.8 3.7 3.6 3.4 3.3 3.2 2.9 2.8 SE3.3 3.5e3.5 3.2e3.3 3.3e3.3e3.2e3.3 3.3pUK1.6 1.6e1.7e1.7e1.7b1.6e1.7 1.7e1.7 naResearchandexperimentaldevelopment(R&D)comprisecreativeandsystematicworkundertakeninordertoincreasethestockofknowledge–includingknowledgeofhumankind,cultureandsociety–andtodevisenewapplications of available knowledge (Frascati Manual, 2015 edition, § 2.5 ). The GDP used in denominator of the MIP indicator comes from the ESA 2010 transmission programme.Flags:b:Break in series. e:Estimated. p:Provisional. 1) Official transmission deadline for 2016 preliminary data on Gross domestic expenditure on R&D is 31 October 2017 while data were extracted on 24 October 2017.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.27: Current plus capital account - Net lending-borrowing (% of GDP)  

70 

2007200820092010201120122013201420152016BE1.6 -1.5 -1.3 1.5 -1.2 0.5 -0.4 -1.1 -0.1 0.2 BG-25.7 -21.2 -7.0 -0.9 1.5 0.4 2.4 2.3 3.1 7.5 CZ-4.0 -1.2 -1.0 -2.6 -1.8 -0.3 1.5 0.9 2.5 2.2 DK1.5 2.9 3.4 6.6 6.9 6.3 7.7 8.7 8.5 7.3 DE6.7 5.6 5.7 5.7 6.1 7.0 6.7 7.5 8.5 8.4 EE-13.8 -7.5 6.0 5.3 5.4 1.4 3.1 1.3 4.0 3.0 IE-6.4 -6.8 -5.6 -1.9 -2.2 -2.6 1.6 -1.8 10.4 2.3 EL-13.3 -13.4 -11.5 -10.5 -8.7 -2.6 -0.4 -0.2 0.9 -0.5 ES-9.3 -8.8 -4.0 -3.5 -2.8 0.3 2.2 1.6 1.8 2.2 FR-0.2 -0.9 -0.7 -0.8 -0.9 -1.2 -0.8 -1.0 -0.1 -0.9 HR-7.2 -9.0 -5.1 -1.1 -0.7 -0.1 1.1 2.1 5.1 3.5 IT-1.3 -2.8 -1.9 -3.4 -2.9 -0.1 0.9 2.1 1.8 2.6 CYna-15.3 -7.3 -11.0 -3.7 -5.8 -3.5 -3.5 -1.2 -4.7 LV-18.9 -11.0 10.2 4.0 -1.1 -0.6 -0.2 1.5 2.3 2.4 LT-13.4 -11.7 5.7 2.5 -1.3 1.5 3.9 5.8 0.2 0.4 LU9.3 6.9 6.1 6.2 5.6 4.7 4.3 3.8 4.6 4.4 HU-6.4 -5.8 0.9 2.1 3.1 4.3 7.3 5.2 8.0 6.2 MT-0.7 -0.7 -5.4 -2.7 1.2 3.2 4.4 10.5 6.4 7.4 NL5.3 5.0 5.6 6.6 8.8 9.0 10.0 8.5 3.6 8.8 AT3.8 4.4 2.6 2.9 1.5 1.3 1.8 2.4 1.4 2.0 PL-5.3 -5.6 -2.3 -3.6 -3.2 -1.5 1.0 0.4 1.8 0.8 PT-8.6 -10.9 -9.3 -8.8 -4.5 0.3 3.2 1.6 1.3 1.7 RO-13.2 -11.4 -4.3 -4.9 -4.4 -3.4 1.0 2.0 1.2 0.4 SI-4.3 -5.4 -0.5 0.0 0.0 2.3 4.8 6.0 5.4 4.5 SK-5.1 -5.3 -2.7 -3.2 -3.7 2.9 3.3 2.1 1.8 0.5 FI3.9 2.3 2.0 1.3 -1.7 -1.8 -1.5 -1.2 -1.0 -1.3 SE8.1 7.7 5.9 5.8 5.3 5.4 5.0 4.5 4.5 4.4 UK-3.8 -4.6 -3.9 -3.8 -2.4 -4.3 -5.6 -5.4 -5.3 -6.0 Netlending/borrowingofacountrycorrespondstothesumoftotalcurrentandcapitalaccounts’balancesinBalanceofPayments.Itrepresentsthenetresourcesthatthetotaleconomymakesavailabletotherestoftheworld(ifit is positive) or receives from the rest of the world (if it is negative). The indicator is based on the Balance of Payments data.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
Table 3.28: Net external debt (% of GDP) 

71 

2007200820092010201120122013201420152016BE-45.3 -85.7 -105.2 -121.2 -118.8 -102.7 -88.4 -71.1 -54.5 -26.6 BGnanana37.1 29.6 25.4 21.6 18.3 1.5 -9.5 CZ-7.4 -4.7 -2.4 -1.3 -0.2 -1.1 -5.1 -4.5 -8.2 -13.5 DK32.3 29.8 28.6 21.9 14.3 10.9 8.2 0.3 -0.6 -7.3 DE3.8 5.9 1.0 3.4 6.7 3.0 -3.9 -6.6 -11.3 -14.6 EE48.5 54.3 53.4 35.8 6.0 -1.1 -4.9 -10.6 -10.5 -11.7 IE-203.9 -153.2 -202.4 -277.6 -311.3 -348.8 -352.9 -415.7 -299.8 -368.6 EL66.1 73.2 84.2 100.8 98.8 123.6 132.7 132.6 137.8 137.5 ES71.5 78.1 89.2 93.2 97.0 95.7 94.7 97.7 94.0 88.8 FR13.0 22.7 25.3 28.1 28.3 33.8 32.5 35.8 36.7 37.5 HRnananana61.7 59.9 59.4 57.7 51.9 40.9 ITna37.0 41.2 47.7 45.8 52.3 56.4 58.7 59.2 55.1 CYna58.3 70.0 70.9 127.1 137.2 140.0 136.1 148.3 152.0 LV46.1 53.9 58.6 55.7 47.2 39.5 36.4 33.6 29.2 28.8 LT28.1 35.3 37.8 35.8 32.1 34.0 29.2 27.7 25.8 24.7 LU-2587.1 -2139.8 -2686.1 -2972.4 -2345.3 -2329.9 -2162.8 -1967.3 -1948.1 -1875.5 HU26.3 67.1 78.4 49.7 68.3 69.0 59.6 57.6 24.0 9.5 MT-385.9 -428.8 -334.8 -490.7 -495.8 -479.5 -376.6 -302.1 -257.3 -222.0 NL46.4 59.8 63.7 71.9 67.7 52.3 52.2 53.7 51.7 43.7 AT15.4 23.2 20.6 28.0 24.0 25.8 20.1 20.0 19.2 19.5 PL19.7 28.3 30.1 31.1 33.6 34.3 36.1 36.4 34.7 32.1 PT64.7 74.6 82.9 81.2 84.5 101.8 99.6 104.4 100.8 94.5 RO20.4 27.7 33.0 35.7 37.5 38.4 35.8 29.8 27.2 22.5 SI24.2 34.5 40.7 43.9 41.0 45.9 42.6 41.4 35.4 29.0 SK12.9 17.7 22.4 20.6 21.4 22.3 23.9 27.5 28.9 28.4 FI-0.2 8.9 20.9 24.8 29.1 39.7 40.3 47.8 49.6 51.8 SE45.1 66.2 72.0 61.8 62.0 58.9 55.8 55.7 47.5 45.6 UKnanananananananananaTheexternaldebt(ortheforeigndebt),atanygiventime,istheoutstandingamountoftheactualcurrent(andnotcontingent)liabilitiesthatrequirepayment(s)ofprincipaland/orinterestbythedebtoratsomepoint(s)inthefutureandthatareowedtonon-residentsbyresidentsofaneconomy.Theexternaldebtistheportionofacountry'sdebtthatwasborrowedfromcreditorsoutsidethecountry,includingcommercialbanks,othergovernmentsorinternationalfinancialinstitutions(suchastheInternationalMonetaryFund(IMF)andtheWorldBank).Theassets/liabilitiesincludedebtsecurities,suchasbonds,notesandmoneymarketinstruments,aswellasloans,deposits, currency, trade credits and advances due to non-residents. The data are expressed as percentage of GDP and source from Balance of payments statistics. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.29: Foreign direct investment in the reporting economy - flows (% of GDP)   

72 

2007200820092010201120122013201420152016BE19.8 38.4 17.0 22.9 30.3 1.3 -5.4 -4.4 -6.5 8.0 BG28.0 17.9 7.5 3.6 3.7 3.3 3.6 3.6 5.4 2.2 CZ7.0 3.7 2.5 4.9 1.9 4.5 3.5 3.9 0.9 3.3 DK3.7 0.5 1.2 -3.6 3.8 -4.9 0.2 2.0 0.4 2.1 DE1.5 0.8 1.6 2.5 2.6 1.8 1.8 0.4 1.6 1.5 EE13.5 8.0 9.1 13.2 4.9 7.8 4.4 6.6 -3.2 3.2 IE22.9 7.9 22.8 16.8 15.2 24.9 27.8 36.5 81.7 25.8 EL0.7 1.4 0.8 0.2 0.4 0.7 1.2 1.1 0.7 1.6 ES4.8 4.8 0.9 2.8 2.2 1.8 3.8 2.4 2.9 2.6 FR3.2 2.3 0.7 1.4 1.5 1.2 1.1 0.0 1.5 1.7 HR7.8 7.6 5.0 2.3 2.3 2.6 1.6 5.3 0.4 3.7 IT3.0 -0.5 0.9 0.4 1.5 0.0 0.9 0.8 0.7 1.0 CYna8.7 10.8 53.3 -43.5 30.5 -25.0 -2.2 41.4 13.0 LV8.8 3.7 -0.2 1.9 5.3 3.8 3.2 3.0 3.1 0.9 LT5.8 4.0 0.1 2.3 3.5 1.4 1.5 1.1 2.3 2.3 LU372.8 182.4 410.6 423.7 679.9 981.1 1025.1 273.1 1063.5 23.2 HU49.6 47.6 -2.6 -16.0 9.9 8.1 -2.8 9.5 -4.4 55.6 MT451.2 164.7 16.8 106.3 82.0 36.1 5.7 2.8 28.7 22.3 NL85.9 17.8 11.1 14.6 37.5 29.8 37.9 13.1 19.3 19.6 AT17.3 1.5 3.4 -5.4 5.4 1.3 0.1 0.4 -2.3 -7.8 PL5.8 2.7 3.2 3.7 3.4 1.5 0.2 3.6 3.2 3.6 PT2.5 3.0 2.3 3.5 4.0 10.1 4.7 5.7 1.2 4.5 RO5.9 6.5 2.8 2.0 1.3 1.8 2.0 1.9 2.4 3.3 SI2.3 2.0 -0.7 0.6 1.7 0.1 0.2 2.0 4.0 3.2 SK6.5 4.9 1.9 2.3 5.6 1.9 1.0 -0.4 1.7 4.0 FI8.5 7.0 -3.3 4.9 -2.2 1.9 -1.9 6.3 6.4 -1.8 SE9.4 8.3 2.1 0.2 1.1 0.8 0.3 -1.7 1.7 2.9 UK6.8 9.1 0.4 2.7 1.0 1.8 2.0 2.0 1.8 11.2 Foreigndirectinvestment(FDI)isacategoryofinvestmentthatreflectstheobjectiveofestablishingalastinginterestbyaresidententerpriseinoneeconomy(directinvestor)inanenterprise(directinvestmententerprise)thatisresidentinaneconomyotherthanthatofthedirectinvestor.Thelastinginterestisdeemedtoexistiftheinvestoracquiresatleast10%ofthevotingpowerofthedirectinvestmententerprise.Dataarepresentedaccordingtotheasset/liabilityprinciple,compiledintheframeworkofbalanceofpaymentsandareconsistentwiththecomponentsofnationalaccountsstatistics.InwardFDIflowsrepresentthevalueofFDIliabilitiesfromallcountriesoftheworldinthereportingeconomyinthereferenceperiod.Dataareexpressedas%ofGDPtoremovetheeffectofdifferencesinthesizeoftheeconomiesofthereportingcountries.DefinitionsarebasedontheIMF'sSixthBalance of Payments Manual (BPM6).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 3.30: Foreign direct investment in the reporting economy - stocks (% of GDP)  

73 

2007200820092010201120122013201420152016BE154.6 192.0 208.2 223.2 236.2 236.2 220.3 228.4 225.5 214.5 BGnanana90.3 87.8 90.1 89.3 96.2 91.8 88.3 CZ58.1 60.3 66.2 70.1 69.6 74.7 77.4 77.3 75.8 75.0 DK47.1 44.6 46.8 43.5 43.9 43.6 41.8 49.9 48.7 52.5 DE33.7 31.9 34.2 35.1 35.8 39.8 41.0 41.2 41.3 41.7 EE75.0 77.1 89.1 95.0 89.9 94.2 98.8 104.9 98.9 99.8 IE192.1 209.0 267.4 294.3 304.3 337.3 344.1 385.2 499.0 503.3 EL16.1 12.0 13.8 13.8 12.2 11.5 12.0 11.8 14.8 16.0 ES44.7 45.1 49.0 50.5 51.6 53.3 56.4 59.4 59.1 59.7 FR34.8 34.2 37.0 38.0 40.2 40.6 41.4 42.1 44.0 44.8 HR64.5 42.2 50.9 53.9 49.8 51.7 50.4 56.0 54.4 57.7 IT21.4 18.8 22.1 20.3 21.5 23.2 23.8 25.1 25.6 25.9 CYna701.6 711.8 773.4 700.1 866.4 863.8 849.4 1050.0 1061.6 LV35.3 36.0 46.3 49.7 50.1 49.7 54.0 56.3 59.8 58.1 LT36.6 29.9 37.0 38.6 37.9 38.2 38.7 38.4 40.0 41.3 LU2757.4 2968.2 3505.4 3640.8 4666.0 6000.7 6486.1 7817.6 9159.2 8938.5 HU176.7 218.0 226.9 214.3 236.3 227.1 211.4 217.2 222.4 260.8 MT1549.3 1636.5 1698.3 1859.2 2024.4 2052.3 1973.2 1852.4 1771.4 1736.5 NL409.0 404.8 422.0 436.6 478.0 509.3 540.8 565.3 587.2 598.9 AT74.9 72.7 81.1 74.8 72.8 74.7 75.2 77.8 75.0 66.6 PL38.4 39.7 40.4 48.4 47.3 47.7 50.1 51.5 48.1 50.2 PT51.0 47.6 53.6 56.4 54.7 66.7 69.5 74.0 73.5 76.1 RO36.7 35.9 40.7 41.4 41.4 43.2 42.9 41.9 42.6 44.8 SI24.0 25.0 26.1 27.0 28.7 29.8 29.1 31.5 34.4 37.1 SK64.2 60.5 64.3 62.5 65.8 64.7 64.8 62.1 63.5 65.6 FI46.4 50.9 50.7 54.7 50.6 52.0 46.8 52.4 57.3 49.9 SE81.3 91.5 100.9 92.9 91.3 90.9 90.1 84.0 82.8 80.3 UK51.3 60.1 57.6 60.0 60.8 74.2 72.2 72.1 67.5 74.5 Foreigndirectinvestment(FDI)isthecategoryofinvestmentmadebyanentityresidentinaneconomy(directinvestor)toacquirealastinginterestinanentityoperatinginaneconomyotherthanthatoftheinvestor(directinvestmententerprise).Thelastinginterestisdeemedtoexistiftheinvestoracquiresatleast10%ofthevotingpoweroftheofthedirectinvestmententerprise.Dataarepresentedaccordingtotheasset/liabilityprinciple,compiledintheframeworkofinternationalinvestmentpositionandareconsistentwiththecomponentsofnationalaccountsstatistics.InwardFDIstocksarethevalueofFDIliabilitiesfromallcountriesoftheworldinthereportingeconomyattheendofthereferenceperiod.DataareexpressedaspercentageofGDPtoremovetheeffectofdifferencesinthesizeoftheeconomiesofthereportingcountries.DefinitionsarebasedontheIMF'sSixthBalance of Payments Manual (BPM6). (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 3.31: Net trade balance of energy products (% of GDP) 

74 

2007200820092010201120122013201420152016BE-3.6 -5.3 -3.2 -3.7 -4.6 -5.0 -4.5 -3.8 -2.7 -2.2 BG-7.3 -8.0 -5.0 -5.7 -6.3 -6.9 -6.2 -5.6 -3.8 -2.4 CZ-3.2 -4.1 -2.7 -3.5 -4.4 -4.7 -4.8 -4.0 -2.4 -2.1 DK1.8 1.6 1.0 0.9 0.7 0.8 0.3 0.0 0.0 0.0 DE-2.4 -3.4 -2.5 -2.9 -3.5 -3.6 -3.4 -2.8 -2.0 -1.5 EE-3.6 -4.1 -2.3 -1.5 -0.4 -1.3 -2.2 -2.1 -1.5 -1.0 IE-2.4 -3.1 -2.3 -2.8 -3.3 -3.0 -3.2 -2.7 -1.5 -1.1 EL-2.9 -3.8 -2.2 -3.0 -3.6p-4.0p-3.7p-3.4p-2.1p-1.7pES-3.0 -3.6 -2.3 -2.9 -3.7 -3.8 -3.4 -2.9 -2.0p-1.5pFR-2.2 -2.8 -2.0 -2.4 -3.0 -3.3 -3.1 -2.5 -1.8p-1.4pHR-3.9 -5.1 -3.5 -3.8 -5.4 -5.6 -5.1 -4.0 -3.4 -2.7eIT-2.9 -3.6 -2.6 -3.2 -3.7 -3.8 -3.3 -2.6 -2.0 -1.6 CY-5.1 -6.4 -4.6 -6.0 -6.8 -7.5 -6.3 -5.9 -4.1 -3.4pLV-4.3 -5.5 -4.4 -4.9 -5.5 -6.1 -5.6 -4.2 -3.2 -2.3 LT-4.2 -5.7 -4.1 -7.1 -7.6 -7.5 -6.1 -4.7 -3.6 -2.6 LU-5.3 -6.6 -4.1 -4.8 -5.9 -6.3 -5.4 -4.4 -3.1 -2.5 HU-4.6 -6.2 -4.9 -5.1 -6.0 -6.3 -6.3 -6.2 -4.2 -3.2 MT-1.5 -2.3 -0.1 1.1 -2.8 -12.2 -9.2 -14.9 -9.2 -9.0 NL-1.2 -0.7 -0.7 -1.5 -1.9 -2.6 -1.4 -1.6 -1.1 -0.7pAT-2.8 -3.5 -2.4 -2.9 -3.7 -3.9 -3.5 -3.0 -2.3 -1.9 PL-2.6 -3.0 -2.2 -2.6 -3.3 -3.4 -2.7 -2.6 -1.6 -1.4 PT-3.6 -4.6 -2.8 -3.4 -4.2 -4.7 -3.7 -3.6 -2.3 -1.6pRO-2.6 -2.8 -1.6 -2.2 -2.7 -3.0 -1.9 -1.4 -0.9 -0.9pSI-4.7 -6.2 -3.9 -5.0 -6.2 -6.7 -5.5 -4.1 -3.1 -2.1 SK-4.9 -5.9 -4.4 -5.7 -6.4 -5.9 -5.9 -4.3 -3.5 -2.6 FI-2.5 -3.3 -2.4 -2.8 -3.7 -2.6 -2.6 -2.4 -1.8 -1.4 SE-1.6 -1.9 -1.2 -1.6 -1.8 -1.7 -1.5 -1.3 -0.9 -0.8 UK-0.4 -0.7 -0.4 -0.4 -1.0 -1.2 -1.1 -0.8 -0.6 -0.5 Thetradebalanceofenergyproductsiscalculated,foreachMemberState,asthedifferencebetweenexportstoandimportsfromtherestoftheworld(intra-EUandextra-EUtrade)ofgoodsincludedintheSITCsection3-Mineral fuels, lubricants and related materials.The data source is International trade statistic and the indicator is expressed as percentage of GDP (according to ESA2010 transmission programme).Flags:e:Estimated. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.32: Real effective exchange rate - Euro Area trading partners (3 year % change) 

75 

2007200820092010201120122013201420152016BE0.4 1.2 0.6 1.9 1.3 1.9 0.6 -0.1 0.2 2.1 BG14.4 19.5 15.9 11.6 3.8 1.8 -0.4 -2.9 -3.9 -4.6 CZ14.4 22.8 10.5 12.5 0.8 5.5 -2.4 -10.1 -8.0 -3.6 DK-1.3 -0.6 0.4 1.7 1.5 0.7 -1.3 -1.4 -1.3 -0.2 DE-0.7 -1.3 -1.1 -1.5 -1.0 -1.3 -0.8 -0.1 0.5 0.4 EE8.5 12.1 8.9 6.4 2.8 5.2 5.4 3.1 1.6 0.4 IE1.4 1.1 -1.6 -5.3 -6.6 -5.1 -3.1 -1.8 -1.3 -0.9 EL3.3 2.8 2.5 5.0 4.5 2.0 -3.5 -5.6 -5.2 -3.2 ES3.5 3.1 1.1 0.9 0.4 0.8 0.4 -0.6 -1.3 -2.2 FR-1.4 -1.2 -1.2 -0.2 -0.4 -0.5 -1.3 -0.7 -0.4 0.1 HR4.4 6.0 3.9 4.3 -2.0 -2.5 -3.0 -1.5 -1.1 -1.0 IT-0.1 0.0 0.4 0.7 0.9 1.4 1.0 0.4 -0.5 -0.7 CY-0.4 -0.7 -1.3 0.4 0.7 2.0 1.0 -0.1 -2.4 -3.3 LV10.8 21.5 18.9 8.3 0.3 -0.7 0.2 -1.3 -2.0 -0.1 LT4.6 10.4 12.9 9.9 4.7 1.7 1.4 -0.1 -1.4 -0.7 LU3.0 2.1 0.9 1.7 2.0 2.8 1.7 0.8 0.3 -0.2 HU8.9 8.5 5.3 0.0 -2.5 4.4 -3.2 -7.2 -7.1 -5.1 MT-0.7 0.6 1.5 3.5 1.8 1.1 0.1 0.7 1.0 2.1 NL-1.8 -2.3 -1.1 -1.0 -0.1 -0.4 1.4 1.3 1.0 -0.4 AT-0.6 -0.7 -0.3 0.1 1.2 1.3 1.6 1.6 2.3 2.4 PL18.9 14.5 -6.2 -0.2 -9.6 7.1 -3.3 -1.7 -1.9 -5.5 PT0.6 0.0 -1.7 -2.1 -0.5 0.9 0.1 -1.2 -1.0 0.5 RO38.9 9.9 -6.5 -9.2 -1.7 3.2 0.6 -1.3 2.4 -2.6 SI2.0 3.9 3.9 3.2 0.4 0.3 0.0 0.4 -0.7 -1.6 SK21.7 26.7 24.7 12.7 4.9 1.9 2.5 0.5 -1.2 -2.0 FI-3.0 -1.3 0.8 1.9 2.1 1.6 1.9 2.0 1.1 0.5 SE-3.6 -4.6 -12.1 -1.2 7.1 19.1 6.0 -3.7 -7.8 -7.7 UK-0.6 -13.5 -21.6 -16.9 -3.0 14.4 4.3 10.2 14.0 5.1 TheRealeffectiveexchangerate(REER)aimstoassessacountry'spriceorcostcompetitivenessrelativetoitsprincipalcompetitorsininternationalmarkets.Changesincostandpricecompetitivenessdependnotonlyonexchangeratemovementsbutalsooncostandpricetrends.ThespecificREERfortheMIPisdeflatedbytheconsumerpriceindicesrelativetotheEuroareacountries(doubleexportweightsareusedtocalculateREERs,reflecting not only competition in the home markets of the various competitors, but also competition in export markets elsewhere). The MIP scoreboard indicator is the percentage change over three years of REER. (cid:9)(cid:9)(cid:9)      Source: European Commission, DG ECFIN 
 
 
 
 
 
 
 
 
Table 3.33: Export performance against advanced economies (5 year % change) 

76 

2007200820092010201120122013201420152016BE2.4 -0.9 -1.3 -4.2 0.8 -5.4 -6.4 -7.2 -10.6 -5.0 BG59.9 50.9 29.2 16.8 21.3 10.9 7.5 13.0 13.9 5.1 CZ73.9 70.3 37.9 20.9 17.3 7.0 -2.8 0.6 -0.4 -0.0 DK3.2 6.8 7.2 -3.3 -5.9 -7.9 -11.5 -9.8 -6.8 -6.9 DE12.1 6.3 1.2 -0.2 -0.8 -6.6 -5.7 -2.4 -1.1 -0.1 EE69.0 52.4 26.1 18.3 35.7 19.6 18.2 28.5 9.5 -3.5 IE-3.4 -7.3 10.5 1.4 -2.0 -6.2 -1.1 -6.1 43.0 55.3 EL20.0 16.7 -2.8 -7.2 -8.1 -16.3 -20.0 -12.6 -19.6 -21.2 ES4.5 -4.6 -1.3 -4.4 -0.2 -8.4 -4.4 -6.0 -2.4 -0.7 FR-8.9 -9.6 -7.2 -10.7 -7.7 -8.9 -8.4 -8.4 -4.2 -5.1 HR23.9 4.9 2.8 -6.0 -8.5 -15.0 -17.4 -14.5 -4.4 5.1 IT0.0 -6.4 -10.9 -12.4 -11.9 -16.7 -14.0 -9.2 -7.5 -5.5 CY-10.7e-16.9e-1.5e-9.0e-3.5e-12.8e-8.7 -18.7 -10.6 -5.7 LV114.6 96.7 65.5 31.6 38.2 20.8 14.1 19.0 14.5 6.2 LT43.3e59.2e41.9 28.7 41.4 48.2 28.5 43.3 17.0 2.4 LU37.8 28.8 21.3 11.7 5.0 0.6 11.4 19.4 26.1 22.7 HU41.3 39.4 22.4 11.8 6.6 -11.9 -16.9 -10.7 -6.4 -3.2 MTna23.4 58.1 49.1 28.4 25.6 7.0 -6.2 -0.5 5.6 NL7.0 4.5 2.6 -0.6 0.1 -2.4 -4.5 -4.9 -5.1 -2.7 AT11.5 6.3 1.9 -5.5 -4.5 -12.3 -12.1 -9.7 -7.7 -6.7 PL70.9e68.4e45.8 34.9 25.7 13.6 7.4 12.3 11.2 14.8 PT6.2 -1.1 -0.3 0.7 -0.2 -6.7 -0.3 0.7 4.0 2.8 RO102.1 113.6 83.7 65.9 63.7 25.8 22.5 28.8 22.7 20.1 SI35.7 29.5 18.8 6.4 2.8 -11.5 -12.1 -6.6 -2.8 1.1 SK83.9e46.8e18.8 12.4 6.2 0.5 3.3 9.3 6.1 4.3 FI4.7 6.5 -5.6 -12.9 -16.7 -23.1 -26.0 -21.1 -20.0 -16.5 SE11.2 3.7 -8.8 -5.6 -4.1 -9.9 -10.8 -3.1 -7.8 -10.5 UK-6.7 -13.9 -13.2 -17.4 -19.0 -11.8 -5.6 -2.8 3.7 -2.9 (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and OECDTheindicatorshowsdevelopmentsinsharesofexportsofgoodsandservicesofEUMemberStatesinrelationtototalexportsofgoodsandservicesof34OECDcountries(21EUMSsand13non-EUcountries).Tocapturethestructural losses in competitiveness that can accumulate over longer time periods the 5 year % change (comparing year Y with year Y-5) is calculated.Flags:e:Estimated.  
 
 
 
 
 
 
 
 
 
Table 3.34: Terms of trade (5 year % change) 

77 

2007200820092010201120122013201420152016BE-2.5 -4.7 -0.8 -1.7 -2.2 -2.5 0.4 -2.4 0.1 2.0 BG15.4 13.0 12.0 14.0 11.5 5.9 4.2 3.0 3.5 3.0 CZ-2.0 -3.3 -2.4 -2.1 -1.7 -3.3 -0.9 -1.4 0.9 3.6 DK2.3 3.3 2.7 3.3 2.0 3.1 2.4 2.9 0.6 2.6 DE-1.9 -4.6 -0.4 -1.0 -2.1 -2.5 0.3 -2.8 2.1 6.6 EE9.0 7.4 7.0 3.0 1.0 -1.4 -0.8 -0.1 2.5 3.0 IE-5.2 -3.2 0.8 -4.0 -1.2 -3.2 -4.3 -4.9 2.6 0.4 EL1.1 -1.7 -2.3 -1.0 -1.5p-3.5p-0.8p1.5p6.0p6.1pES2.6 -1.2 4.3 1.0 -2.9 -5.4 -2.0 -7.5 -4.2p0.0pFR-2.6 -3.2 0.2 0.2 -0.7 -2.2 -0.4 -1.7 2.7p6.0pHR7.9 6.7 5.2 5.6 4.4 2.6 1.3 0.6 0.5 1.7eIT-4.4 -8.0 -1.3 -2.1 -1.7 -4.2 -0.6 -4.1 2.2 7.5 CY3.3 0.1 -1.2 0.2 -0.1 -0.8 -0.2 0.1 -0.5 0.0pLV7.8 3.9 1.5 2.6 6.3 -1.3 1.0 -0.4 0.1 -0.1 LT7.6 11.5 -1.3 -2.2 -0.2 -1.9 -5.6 -0.9 2.2 5.6 LU1.5 1.8 3.6 4.6 3.0 4.2 2.8 1.2 0.1 -1.0 HU-3.1 -4.0 -2.6 -0.8 -0.9 -2.2 -0.3 -0.8 0.0 2.6 MT2.1 0.0 1.0 1.6 1.1 0.2 1.0 2.1 1.0 1.4 NL0.4 -0.2 1.0 -0.4 -2.1 -2.3 -1.7 -2.6 -0.3 1.8pAT-2.0 -4.0 -1.7 -2.5 -3.1 -3.2 -1.9 -2.8 -0.2 2.1 PL5.5 4.5 4.5 1.7 0.3 -2.6 -0.1 -1.4 2.5 4.9 PT-0.5 -2.9 2.3 2.1 -0.5 -0.5 3.7 0.1 4.7 7.8pRO26.9 28.9 25.5 23.2 18.6 6.6 4.2 4.5 6.0 4.8pSI-2.3 -4.1 0.4 -1.6 -2.4 -4.3 -2.3 -4.6 0.7 3.0 SK-3.3 -4.5 -5.3 -5.7 -5.6 -5.7 -4.6 -3.5 -3.2 -2.2 FI-9.7 -10.2 -7.1 -5.8 -4.3 -5.2 -2.7 -2.7 2.7 5.4 SE-1.8 -2.3 -0.2 1.2 0.6 -0.7 0.0 -0.8 0.6 1.8 UK0.3 -4.0 -4.0 -1.5 -2.2 -0.6 4.5 5.0 4.3 7.3 Acountry’stermsoftrademeasuresacountry'sexportpricesinrelationtoitsimportprices.Theindicatormeasuresthecountry'stradecompetitiveness,asitindicateshowmuchimportsaneconomycangetforaunitofexportgoods.Itiscalculatedastheratioofthepriceindexforexportsofgoodsandservicestothepriceindexforimportsofgoodsandservices.Theseareobtainedbydividingcurrentpricesbychain-linkedvolumesusingthestandard reference year 2010. Data are expressed as percentage change comparing year Y with the year Y–5. Data source: National accounts statistics.Flags:p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.35: Export market share, volume (1 year % change) 

78 

2007200820092010201120122013201420152016BE-2.2 -1.2 0.6 -2.3 -0.2 -2.5 -2.9 1.5 0.2 5.2 BG11.7 -0.4 -1.7 -1.6 5.7 -0.8 5.8 -0.6 2.6 5.8 CZ3.1 1.3 0.2 2.1 2.3 1.5 -3.6 5.0 2.9 2.2 DK-4.2 1.0 0.8 -9.7 0.3 -1.6 -2.2 -0.1 -1.3 0.2 DE1.4 -1.0 -4.3 1.9 1.4 0.0 -2.1 0.9 2.1 0.3 EE4.7 -2.0 -10.3 11.4 17.3 2.0 -1.0 -1.2 -3.8 1.8 IE1.0 -6.7 14.6 -6.8 -3.7 -1.2 -0.8 10.7 35.3 2.3 EL2.7 0.6 -8.5 -7.7 -6.9p-1.6p-2.3p4.0p0.0p-4.1pES0.4 -3.7 -1.0 -3.2 0.5 -1.7 0.5 0.6 1.1p2.5pFR-5.1 -2.5 -1.3 -3.6 0.0 -0.3 -1.9 -0.4 1.2p-0.5pHR-4.5 -2.1 -4.1 -6.4 -4.7 -2.9 -0.7 2.36.3 3.3eIT-1.7 -6.0 -8.1 -0.8 -1.7 -0.5 -3.1 -1.0 1.3 0.1 CY-2.6 -3.6 5.9 -8.1 -1.3 -5.5 -1.7 0.5 3.2 1.6pLV5.9 -0.5 -2.9 0.8 5.1 7.0 -2.7 2.3 -0.1 1.8 LT-4.7 10.6 -2.8 6.3 8.5 9.6 6.1 -0.4 -3.5 1.2 LU0.2 2.6 -1.6 -2.2 -2.9 0.0 1.5 10.3 3.8 0.4 HU8.2 4.0 -1.4 -1.3 -0.4 -4.6 0.4 5.4 5.4 1.1 MT3.0 16.5 9.6 -5.7 -5.2 4.5 -2.6 0.2 1.1 1.2 NL-2.3 -1.1 1.1 -2.1 -2.5 1.0 -1.7 0.8 3.4 2.0pAT-0.3 -0.7 -4.4 0.5 -1.0 -1.4 -3.2 -0.7 0.0 -0.4 PL2.1 4.2 4.1 0.5 1.0 1.8 2.3 3.0 4.6 6.5 PT-0.6 -3.2 -0.2 -3.1 0.1 0.6 3.2 0.6 3.0 1.8pRO-0.1 -6.1 4.7 2.6 5.0 -1.8 15.9 4.3 1.5 6.0pSI5.7 1.3 -6.6 -2.4 0.0 -2.2 -0.7 2.0 1.9 4.1 SK6.7 0.1 -6.8 3.1 5.1 6.5 2.9 0.2 3.3 3.9 FI1.2 3.7 -10.1 -6.4 -4.9 -1.6 -2.7 -6.4 -2.3 -1.0 SE-3.4 -0.9 -4.5 -0.7 -0.8 -1.8 -4.6 1.6 2.6 1.0 UK-9.4 -2.3 1.3 -6.7 -0.7 -2.6 -3.0 -1.0 1.9 -1.2 Theindicatoriscalculatedbysubtractingtheworldexportsvolumegrowthratefromthecountryexportsvolumegrowthrate.Eurostat'sNationalaccountsvolumesforexports(asforalltransactionsconcerninggoodsandservices)areestimatedinpreviousyearpricestoeliminatetheinfluenceofinflation.ThevolumegrowthrateisalwayscalculatedbycomparingtheyearYvolumeinpreviousyearpriceswiththeyearY-1figureincurrentprices.TheMIPindicatorisexpressedaspercentagechangecomparingyearYwithyearY-1.Country'sexportsofgoodsandservicesseriesarebasedonEurostatdata,whileworldexportsofgoodsandservicesonIMFdata,WorldEconomic Outlook (WEO)Flags:p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission calculation based on IMF data, World Economic Outlook (WEO) 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.36: Real labour productivity (1 year % change) 

79 

2007200820092010201120122013201420152016BE1.8 -1.0 -2.1 2.1 0.4 -0.2 0.5 0.9 0.5 0.2 BG4.0 3.6 -1.9 5.4 4.2 2.6p1.3p1.0p3.3p3.4pCZ3.4 0.5 -3.1 3.3 2.1 -1.2 -0.8 2.2 3.8 1.3 DK-1.4 -1.7 -1.8 4.3 1.4 1.0 1.0 0.7 0.3 0.0 DE1.5 -0.2 -5.7 3.8 2.3 -0.7 -0.1 1.1 0.8 0.6 EE7.5 -5.2 -5.0 7.6 1.0 2.6 0.7 2.1 -1.2 1.8 IE0.8 -3.3 3.5 6.1 3.6b0.6 -0.9 6.5 22.5 2.3 EL1.9 -1.6 -3.8 -3.0 -2.4p-1.1p-0.6p-0.2p-1.0p-0.7pES0.5 0.9 2.9 1.8 1.7 1.1 0.9 0.4 0.7p0.7pFR0.9 -0.3 -1.8 1.9 1.3 -0.1 0.3 0.5 0.8p0.5pHR1.9p-0.1d-6.7d2.4d3.7d1.4d2.0d-2.7d1.1d2.7dIT0.2 -1.3 -3.9 2.3 0.3 -2.5 0.1 0.0 0.3 -0.3 CY0.4 0.3 -1.8 0.8 0.3 0.1 0.0 0.4 0.5 -0.1pLV5.9 -2.7 -0.1 2.9 4.8 2.5 0.3 3.3 1.4 2.4 LT8.9 4.0 -7.7 7.3 5.5 2.0 2.1 1.5 0.7 0.4 LU3.8 -5.8 -5.4 3.0 -0.4 -2.7 1.8 3.1 0.3 0.0 HU0.3 2.9 -4.2 1.8 1.7 -1.8 1.0 -0.6 0.9 -0.4 MT1.7 0.8 -2.5 1.8 -1.5 0.1 0.8 2.9 3.0 1.8 NL0.7 0.1 -2.9 2.1 0.8 -0.9 1.0 1.5 1.3p1.1pAT1.9 -0.4 -3.3 1.1 1.3 -0.4 -0.3 -0.1 0.5 0.2 PL2.4 0.4 2.4 6.4b4.4 1.5 1.5 1.5 2.3 2.3pPT2.5 -0.2 -0.3 3.4 0.1 0.1 1.8 -0.5 0.4 -0.1pRO6.5 8.4 -5.2 -0.5 1.9 5.7b4.4 2.3 5.3 5.5pSI3.5 0.7 -6.1 3.4 2.4 -1.8 0.0 2.6 1.0 1.2 SK8.5 2.3 -3.5 6.7 1.0 1.6 2.3 1.3 1.8 0.9 FI3.0 -1.5 -6.0 3.7 1.3 -2.3 0.0 -0.2 0.1 1.4 SE1.1 -1.4 -2.8 5.0 0.5 -1.0 0.3 1.2 3.0 1.6 UK1.5 -1.3 -2.6 1.4 0.9 0.4 0.9 0.7 0.6 0.4 LabourproductivityistheratioofGrossdomesticproduct(marketpricesinmillions,chain-linkedvolumesreferenceyear2010)tototalEmployment(domesticconcept).The'personsemployed'doesnotdistinguishbetweenfull-timeandpart-timeemployment.TheGDPperpersonemployedisintendedtogiveanoverallimpressionoftheproductivityofnationaleconomiesexpressedinrelationtotheEuropeanUnion(EU28)average.Theinputdataareobtained through official national accounts' country data in the ESA2010 transmission programme.  The MIP indicator is expressed as percentage change comparing year Y with year Y-1. Flags:b:Break in series. p:Provisional. 1) For HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.37: Nominal unit labour cost index, 2010=100 (10 year % change) 

80 

2007200820092010201120122013201420152016BE15.1 19.2 21.5 20.2 18.4 20.1 21.2 22.2 20.3 17.6 BG123.5 65.7 68.1 71.5 62.0 69.7p78.8p82.7p78.4p77.5pCZ36.2 31.9 32.1 29.4 24.0 19.7 16.7 14.1 13.9 17.0 DK27.0 30.1 33.7 32.2 26.9 23.9 21.9 23.0 21.5 20.9 DE-0.1 2.1 7.6 5.7 6.5 9.0 9.9 12.4 15.0 19.0 EE80.9 97.0 92.6 80.6 73.2 74.6 72.1 70.6 72.6 64.4 IEna43.3 35.5 19.7 10.8b9.9 5.6 -1.0 -20.7 -23.6 EL44.5 43.0 48.2 47.5 42.9p28.3p15.9p11.8p1.4p1.9pES33.8 38.9 38.2 32.7 27.4 20.2 16.1 12.5 10.2p5.9pFR16.5 20.2 23.3 23.0 21.5 20.9 19.8 20.0 17.6p15.9pHRnanana31.9d34.9d25.9d17.4d12.7d8.7d4.3dIT22.6 30.0 33.6 32.9 29.6 26.5 22.2 19.5 17.7 16.4 CY32.4 37.2 45.5 42.5 41.8 39.2 20.8 14.2 5.4 3.0pLV96.2 132.8 99.6 80.5 77.5 88.5 90.5 88.3 73.8 56.6 LT28.2 31.8 27.8 29.4 34.9 35.3 38.5 37.4 35.5 28.0 LU25.8 37.9 46.8 41.4 36.0 38.2 36.7 32.0 31.1 28.4 HU94.0 81.2 75.1 56.6 43.2 39.5 30.8 26.7 20.1 23.2 MTnanana30.4 28.7 32.0 29.4 24.2 25.9 22.1 NL19.8 22.4 27.1 21.3 19.0 17.1 15.7 15.9 14.5p14.7pAT6.2 10.0 15.7 15.9 15.6 18.7 20.0 22.4 23.2 24.1 PLnanana13.7b7.9 13.0 16.8 19.2 17.7 21.1pPT30.4 29.1 28.9 22.0 15.1 8.0 6.1 4.5 1.1 2.6pRO948.0 604.8 420.7 223.4 109.7 117.6b79.3 81.2 43.6 44.0pSI55.5 57.5 63.4 53.0 39.2 32.4 27.3 21.5 20.2 20.6 SK44.4 43.1 46.1 31.7 29.3 25.2 21.1 18.9 16.3 16.1 FI11.6 16.7 24.8 22.4 22.2 27.1 28.5 29.6 28.4 26.4 SE13.0 23.8 29.0 20.3 17.8 21.2 22.4 24.7 23.7 25.0 UK35.7 32.7 35.1 33.3 28.2 28.8 28.1 23.6 22.4 20.4 TheNominalunitlabourcost(NULC)indexisdefinedastheratiooflabourcosttolabourproductivity,wherelabourcostistheratioofCompensationofemployees(currentprices)tothenumberofEmployees,andlabourproductivityistheratioofGrossdomesticproduct(atmarketpricesinmillions,chain-linkedvolumesreferenceyear2010)tototalEmployment.Dataonemployeesandemploymentarepresentedaccordingtothedomesticconcept used in National accounts. The indicator is the percentage change over ten years. Input data are obtained from the official national accounts' country data, through ESA2010 transmission programme.Flags:b:Break in series. p:Provisional. 1) PL: 2010 break in time series. Since the indicator is 10 years % change the break affects all the following years. 2) HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.38: Unit labour cost performance relative to EA (10 year % change) 

81 

2007200820092010201120122013201420152016BE1.4 1.9 0.2 1.3 0.8 2.5 4.7 5.0 4.0 1.5 BG92.1 38.2 34.4 39.6 33.7 41.5 52.0 55.7 54.3 52.1 CZ21.8 14.8 10.7 10.9 6.9 2.7 0.6 -2.3 -2.1 -0.9 DK12.3 11.3 10.4 11.6 8.1 5.2 4.2 4.8 4.3 4.4 DE-17.5 -18.8 -16.5 -16.2 -14.0 -11.1 -8.9 -5.6 -1.3 3.2 EE54.2 60.5 53.3 47.6 42.7 40.7 39.5 35.0 41.7 38.6 IE24.1 24.2 13.4 2.1 -2.0 -1.8 -2.7 -9.2 -27.1 -28.8 EL26.5 20.9 20.8 22.6 20.0 7.9 -1.1 -5.0 -13.8 -11.5 ES17.2 18.2 13.9 11.4 8.3 2.7 0.2 -3.2 -5.2 -8.4 FR1.2 1.0 0.3 2.6 2.7 2.4 2.6 2.6 1.7 -0.1 HR29.5 15.0 10.8 9.9 14.6 7.9 1.9 -1.8 -3.6 -5.1 IT7.7 11.3 11.4 13.7 12.5 10.1 6.3 3.5 2.9 0.6 CY13.0 13.5 16.2 15.8 17.2 17.0 4.5 -0.7 -6.2 -7.9 LV69.0 92.4 60.2 48.6 47.3 55.9 57.8 55.2 42.7 27.2 LT7.4 5.3 0.2 4.6 10.0 9.4 12.8 11.7 11.5 5.3 LU5.9 12.4 17.0 17.1 16.2 17.1 16.2 14.4 11.6 7.8 HU73.0 56.8 45.9 31.3 20.7 17.4 10.7 8.4 6.5 9.1 MT4.5 4.8 6.6 9.8 9.5 13.1 12.1 7.1 9.4 6.9 NL8.4 7.0 7.1 4.3 3.7 1.6 0.9 0.4 0.8 1.7 AT-4.9 -4.5 -3.2 -1.2 -0.4 2.0 3.6 5.4 6.3 4.8 PL9.5 3.9 -3.7 -3.3 -7.6 -3.6 0.2 1.7 0.1 2.3 PT11.8 6.9 3.9 0.5 -3.8 -8.7 -9.1 -10.1 -12.2 -11.2 RO812.2 492.6 322.1 166.5 74.8 82.4 52.6 54.2 22.7 20.3 SI38.9 36.0 35.8 29.3 18.6 12.4 8.9 3.4 2.7 1.7 SK29.8 24.5 22.4 12.4 11.2 7.2 4.5 2.1 -0.3 -1.7 FI-2.8 -1.6 1.9 2.3 3.2 7.2 9.3 10.1 9.5 8.1 SE-0.9 5.1 5.7 0.8 -0.3 2.3 4.1 5.6 7.0 8.4 UK16.8 10.7 9.6 10.8 8.0 8.7 8.9 5.2 5.9 2.9 (cid:9)(cid:9)(cid:9)      Source: European Commission, DG ECFINTherelativeunitlabourcost(ULC)seriesmeasuresthetradingpositionofanindividualcountryrelativetoitspartnersintheeuroareaandassuchoffersanindicationaboutchangesinitscompetitiveposition.Themeasuretakesintoaccountnotonlychangesinmarketexchangerates,butalsovariationsinrelativepricelevelsbasedontheunitlabourcostandthereforecanbeusedasindicatorsofcompetitiveness.Thedataareexpressedas10year % change. 
 
 
 
 
 
 
 
 
Table 3.39: House price index (2015=100) - nominal (3 year % change)   

82 

2007200820092010201120122013201420152016BE33.3e23.5 12.0 7.2 6.8 9.7 7.6 2.9 2.3p3.8pBG102.0e84.8p28.2p-10.6p-32.4p-16.7p-9.3p-2.7p2.0bp11.6pCZ30.5e45.0e29.5e6.6e-5.5 -3.1 -1.4 0.9 6.5p14.2pDK49.8e20.8 -14.3 -14.2 -11.0 -1.7 -0.6 4.9 15.3 16.2 DE-1.4e-1.2 0.0 3.3 5.5 8.2 10.4 10.0 11.4 14.5 EEna63.2 -31.5 -40.0 -28.0 23.0 28.8 35.0 34.5 27.3 IE35.4e14.9 -19.1 -34.9p-42.0p-37.9p-27.3p2.1p31.5p39.6pEL33.0e22.0e3.7e-6.7e-13.2e-20.4e-25.5e-27.1e-21.6e-14.2eES41.4e22.7e1.1 -9.6 -15.3 -22.7 -28.5 -22.3 -5.6 8.7 FR36.8b19.6 0.0 -0.9 4.0 10.3 3.2 -4.0 -4.9 -2.0 HR46.8e35.7e9.5e-8.4e-10.9 -7.6 -5.3 -6.9 -8.2 -3.6 IT19.5e13.9e7.2e1.3be-0.6e-2.8e-7.7p-12.4p-12.2p-7.6pCY32.8e32.1 10.3 -6.9p-13.3p-10.1p-8.5p-8.7p-7.1bp-2.9pLV162.1e113.8e-13.6 -43.6 -38.4 1.2 21.5 16.6 9.5 11.1 LT103.7e76.7e-3.5 -29.3 -30.8 -1.5 7.7 7.5 11.7 16.3 LU32.5be22.9e9.3e7.7 8.0 13.9 13.4 14.2 15.5 16.6 HUnanana-5.3 -10.7 -9.2 -9.4 -2.2 14.8 33.6 MT56.2e61.1 28.6 7.4 -4.6 2.7 1.2 5.2 8.1 14.6pNL14.5e11.7 2.4 -4.0 -8.0 -10.1 -14.0 -11.6 -1.9 9.9 AT14.4e10.1e9.9e11.5be17.3e21.1e19.9 16.8 14.2 17.8 PLnananana-6.4e-7.0e-7.6 -6.8 -2.0 4.4 PT5.8e7.3be4.2e3.6e-5.1 -11.0 -13.3 -4.9 5.4 15.1 ROnananana-38.2e-23.0 -17.0 -7.3 0.5 6.7 SI65.2e54.5e19.8e-3.0 -6.9 -4.2 -9.4 -17.6 -10.8 -2.8 SKnana32.7 -1.2 -17.5 -8.0 -3.3 -0.4 7.8 14.0 FI22.5e14.2p8.3p8.7p11.3p12.3 6.9 3.2 0.8 0.3 SE38.8e27.9 17.1 12.4 14.0 12.0 9.4 16.7 30.5 34.4 UK32.4e13.2 -4.4 -8.0 -5.1 4.6 1.5 11.2 17.4 22.4 TheHousepriceindex(HPI)capturespricechangesofallresidentialpropertiespurchasedbyhouseholds(flats,detachedhouses,terracedhouses,etc.),bothnewandexisting,independentlyoftheirfinaluseandtheirpreviousowners. Only market prices are considered, self-build dwellings are therefore excluded. The land component is included. The data are expressed as 3 year % change of the HPI. The indicator is based on Price statistics.Flags:b:Break in series. p:Provisional. 1) e = Eurostat estimates for ES, CY, LV, LT, MT; e = NSI estimates for BG, CZ, PL, RO; e = source NCB for EL and AT.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.40: Residential construction (% of GDP) 

83 

2007200820092010201120122013201420152016BE6.3 6.5 6.1 6.1 5.8 5.9 5.7 5.9 5.8 5.9 BG5.0 5.8 4.7 2.7 2.2 1.7 1.7 1.6 1.4 2.7 CZ4.1 4.0 3.8 4.0 3.7 3.7 3.2 3.4 3.6 3.7 DK6.5 5.4 4.2 3.7 4.3 4.1 3.7 3.9 4.0 4.4 DE5.1 5.0 5.1 5.2 5.6 5.8 5.8 5.9 5.7 5.9 EE6.1 4.3 3.1 2.7 2.7 2.9 3.4 3.9 4.4 4.8 IE11.1 8.2 4.7 3.0 2.3 1.8 2.0 2.3 1.9 2.1 EL10.8 8.1 6.5 5.0 4.6p3.1p2.2p1.0p0.7p0.6pES11.7 10.4 8.1 6.9 5.7 4.9 4.1 4.5 4.4p4.6pFR6.7 6.8 6.3 6.3 6.4 6.2 6.1 6.1 5.9p6.0pHRnanananananananananaIT5.8 5.8 5.6 5.6 5.3 5.0 4.8 4.5 4.3 4.4 CY12.3 12.1 9.8 8.1 6.2 4.9 4.1 4.1 4.2 4.6pLV7.2 6.1 2.4 1.6 1.9 2.2 2.2 2.5 2.5 2.0 LT2.8 3.4 3.3 2.1 2.0 1.9 2.2 2.5 2.8 3.0 LU4.0 4.4 3.5 2.9 3.0 3.2 3.6 3.2 3.0 3.2 HU4.0 4.1 4.1 3.1 2.2 2.0 1.8 1.9 2.2 2.4 MT7.4 5.6 4.3 3.4 3.4 3.0 2.6 2.5 3.2 3.9 NL6.3 6.2 5.6 4.7 4.2 3.5 3.0 3.0 3.5 4.0pAT4.3 4.4 4.3 4.3 4.4 4.3 4.3 4.3 4.3 4.2 PL3.7 3.8 3.4 3.2 3.0 3.2 3.0 3.0 2.5 3.0 PT5.2 4.7 4.1 3.6 3.3 2.9 2.5 2.5 2.4 2.5pRO2.4 3.1 2.9 2.9 2.7 3.1 2.4 2.4 2.4 2.5pSI4.2 4.6 3.8 3.1 2.8 2.5 2.4 2.2 2.1 2.1 SK2.5 2.5 3.0 2.6 2.4 2.3 2.7 2.3 2.3 2.4 FI6.5 5.9 5.2 6.1 6.3 6.3 6.0 5.5 5.6 6.1 SE4.3 3.9 3.3 3.6 3.9 3.4 3.5 4.0 4.6 5.1 UK3.8 3.6 3.0 3.1 3.2 3.1 3.2 3.5 3.6 3.6 ResidentialConstructiontrackstheactualconstruction(notsales)ofhousingandispartofGrossfixedcapitalformation.GFCFconsistsofresidentproducers'acquisitions,lessdisposals,offixedassetsduringagivenperiodpluscertainadditionstothevalueofnon-producedassetsrealisedbytheproductiveactivityofproducerorinstitutionalunits.DatasourcefromNationalaccountsstatistics,usingasadenominatorGDPfromtheESA2010transmission programme. Flags:p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.41: Private sector debt, non-consolidated (% of GDP) 

84 

2007200820092010201120122013201420152016BE169.5 190.5 202.8 189.8 199.6 205.4 206.0 208.1 214.0 225.5 BG125.0 136.8 143.9 142.3 133.5 134.8 142.5 136.8 121.5 117.0 CZ61.8 67.6 70.6 72.5 74.3 77.0 84.3 80.6 77.9 77.5 DK220.6 231.4 240.7 232.7 232.6 233.8 227.3 222.7 219.5 221.3 DE117.1 116.3 120.0 114.2 109.5 109.5 110.4 106.7 105.7 105.9 EE152.4 161.6 167.2 152.5 132.6 129.2 127.1 130.0 127.4 126.6 IE200.9 254.8 281.1 281.8 297.1 306.9 290.7 304.1 328.3 300.2 EL101.8 113.4 116.8 128.1 130.2p131.5p129.2p128.0p126.1p124.7pES205.5 209.3 214.3 215.7 214.0 206.6 197.1 186.3 174.6p165.8pFR150.5 157.4 165.2 165.4 171.6 175.9 174.5 180.5 183.5p188.7pHR111.6 120.3 133.3 143.5 142.4 142.9 143.1 140.9 138.2 130.6eIT112.7 116.3 125.0 125.8 125.3 127.3 124.6 122.4 118.2 116.5 CY270.0 289.5 310.9 320.6 327.3 330.4 341.5 353.8 354.7 345.6pLV116.1 120.7 145.5 151.1 131.4 119.4 110.2 104.2 97.5 96.9 LT80.7 81.9 86.7 78.3 68.5 65.4 62.2 58.1 59.1 63.3 LU331.7 326.7 377.8 342.9 348.7 371.0 375.2 384.8 418.7 410.1 HU109.0 119.4 131.2 129.3 130.1 118.7 111.2 108.1 99.5 92.5 MT180.5 195.9 217.0 218.3 227.3 221.7 214.6 210.6 198.0 194.8 NL220.9 222.2 239.9 240.2 242.2 240.5 235.4 234.2 236.0 231.3pAT140.5 142.7 145.3 147.6 145.5 143.7 146.7 142.7 142.3 142.2 PL56.8 69.7 69.5 72.7 76.6 76.6 78.7 81.7 83.4 86.4 PT196.7 208.2 217.0 215.9 220.0 231.4 220.9 208.1 195.8 185.0pRO106.1 112.9 120.8 74.9 73.9 72.7 67.7 63.1 61.2 57.2pSI104.0 114.6 124.1 125.3 125.3 124.3 118.4 107.3 95.5 88.1 SK61.2 66.1 71.1 69.6 73.2 74.9 79.9 85.1 85.9 92.6 FI145.2 156.6 165.9 170.0 169.2 172.6 177.1 183.5 191.0 176.4 SE190.9 217.9 235.3 222.0 226.4 228.8 232.5 234.2 234.4 231.6 UK188.0 196.9 195.8 189.9 183.6 184.0 176.4 167.3 164.8 168.2 TheprivatesectordebtisthestockofliabilitiesheldbythesectorsNon-Financialcorporations(S.11)andHouseholdsandNon-Profitinstitutionsservinghouseholds(S.14_S.15).TheinstrumentstakenintoaccountareDebtsecurities(F.3)andLoans(F.4).Dataarepresentedinnon-consolidatedterms,i.e.takingintoaccounttransactionswithinthesamesectorandexpressedin%ofGDP.TheindicatorisbasedonNationalaccountsdata.Definitions regarding sectors and instruments are based on the ESA 2010 transmission programme.Flags:e:Estimated. p:Provisional. 1)LU:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseries.Themainimpactisadownwardrevisioninlevelsofprivatesectordebtforyears2007to2014.2)IE2015:significantincreasesforIEduetore-domicilingoflargemultinational corporations and movement of large parts of their balance sheets. 3) IE 2016: The decline for IE relative to 2015 predominantly reflects restructuring and re-domiciling activities of large multinational companies.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.42: Financial sector leverage (debt-to-equity), non-consolidated (%) 

85 

2007200820092010201120122013201420152016BE194.5 238.3 203.1 190.2 192.1 199.4 192.2 189.6 176.3 192.6 BG215.0 431.9 385.9 439.5 413.0 438.4 450.2 429.7 506.7 475.6 CZ648.5 759.0 642.9 567.4 624.5 540.6 532.0 498.7 507.8 530.0 DK204.7 316.4 248.9 217.5 209.5 208.5 190.0 170.1 154.5 158.9 DE515.8 758.1 602.7 563.2 601.7 522.1 422.9 397.6 368.7 367.2 EE397.5 433.4 463.7 397.9 398.6 369.5 299.8 313.4 376.7 359.1 IE190.1 276.7 231.9 182.9 150.1 121.0 99.1 84.0 78.9 72.3 EL308.2 1196.7 954.9 1683.0 3047.9 1007.2 849.4 1001.9 1343.4 1354.2 ES403.6 615.8 572.6 647.4 707.2 781.3 601.3 490.1 466.3 452.0 FR293.0 414.3 338.3 348.8 454.9 405.6 372.0 393.2 358.6 347.5 HR237.6 481.3 483.2 459.0 491.0 455.1 486.8 465.4 427.7 375.9 IT354.1 764.1 694.4 905.2 1221.0 1237.7 941.2 782.4 660.4 751.4 CY360.1 127.6 147.6 121.3 138.0 102.7 90.9 99.5 78.2 76.3 LV1007.6 985.8 831.3 795.3 690.8 684.2 609.8 642.6 625.4 643.0 LT774.3 1008.0 783.0 605.9 616.2 617.8 578.1 443.1 468.3 547.5 LU59.7 69.8 55.3 48.3 58.1 60.8 56.9 54.1 53.5 54.0 HU117.5 136.4 136.9 121.1 130.3 120.5 124.7 125.0 109.3 75.8 MT48.7 50.1 50.1 45.9 40.9 39.0 38.3 41.6 36.8 35.4 NL218.2 219.2 172.7 161.9 152.8 138.5 127.2 126.8 123.1 119.8pAT204.6 290.2 237.3 229.2 245.6 220.4 204.9 193.7 183.2 191.0 PL211.8 407.9 339.9 298.8 363.9 307.1 273.5 284.3 300.9 321.0 PT216.5 266.0 267.1 296.8 408.7 388.1 364.3 358.3 379.1 394.9 RO510.7 674.2 560.8 530.6 526.1 433.2 432.0 402.1 390.7 406.7 SI447.4 680.5 666.2 654.6 737.8 740.1 594.0 449.2 409.7 399.3 SK998.4e1148.8e1141.3e986.2e970.3e841.5e745.5e774.2e530.6e571.6eFI251.8 451.4 372.0 408.4 619.8 518.9 364.5 365.2 303.1 293.1 SE219.0 372.5 278.0 237.1 267.7 238.3 207.0 193.6 186.5 185.3 UK885.2 1778.4 1010.2 963.9 1144.3 951.6 781.8 746.6 645.7 686.6 TheFinancialsectorleverage(debt-to-equityratio)indicatorshowstherelativeproportionofdebtusedtofinanceassetstoshareholders'equity.ItisobtainedastheratioofthesumofCurrencyanddeposits,Debtsecurities,Loans, Financial derivatives and employee stock options to Equity and investment fund shares.  The indicator is based on National accounts data.Flags:e:Estimated. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.43: Employment rate (1 year % change) 

86 

2007200820092010201120122013201420152016BE1.7 1.8 -0.2 0.6 1.4 0.4 -0.3 0.4 0.9 1.3 BG3.2 2.4 -1.7 -3.9 -2.2 -2.5p-0.4p0.4p0.4p0.5pCZ2.1 2.2 -1.8 -1.0 -0.3 0.4 0.3 0.6 1.4 1.3 DK2.3 1.2 -3.2 -2.3 0.0 -0.7 0.0 1.0 1.3 1.7 DE1.7 1.3 0.1 0.3 1.4 1.2 0.6 0.8 0.9 1.3 EE0.2 -0.2 -10.2 -4.9 6.5 1.6 1.2 0.8 2.9 0.3 IE4.4 -0.6 -7.8 -4.1 -0.5b-0.6 2.5 1.7 2.5 2.8 EL1.3 1.3 -0.6 -2.6 -6.9p-6.3p-2.6p0.9p0.7p0.5pES3.3 0.2 -6.3 -1.7 -2.7 -4.0 -2.6 1.0 2.7p2.5pFR1.4 0.5 -1.1 0.1 0.8 0.3 0.2 0.4 0.2p0.6pHR3.2p2.1d-0.7d-3.8d-3.9d-3.6d-2.6d2.7d1.2d0.3dIT1.2 0.2 -1.7 -0.6 0.3 -0.3 -1.8 0.1 0.7 1.3 CY4.4 3.5 0.0 0.5 0.0 -3.2 -5.9 -1.8 1.5 3.1pLV3.8 -0.8 -14.3 -6.7 1.5 1.4 2.3 -1.3 1.4 -0.3 LT2.0 -1.3 -7.7 -5.3 0.5 1.8 1.3 2.0 1.3 2.0 LU4.4 4.8 1.0 1.8 3.0 2.4 1.8 2.6 2.6 3.0 HU0.1 -2.0 -2.5 -1.1 0.0 0.2 1.1 4.8 2.4 2.6 MT2.2 2.5 0.0 1.7 2.9 2.5 3.7 5.1 3.9 3.7 NL3.0 1.6 -0.9 -0.7 0.9 -0.2 -1.2 -0.1 0.9p1.1pAT1.8 1.9 -0.5 0.8 1.6 1.0 0.3 1.0 0.6 1.2 PL4.5 3.8 0.4 -2.7b0.6 0.1 -0.1 1.7 1.5 0.6pPT0.0 0.4 -2.7 -1.4 -1.9 -4.1 -2.9 1.4 1.4 1.6pRO0.4 0.0 -2.0 -0.3 -0.8 -4.8b-0.9 0.8 -1.3 -0.9pSI3.4 2.6 -1.8 -2.1 -1.7 -0.9 -1.1 0.4 1.2 1.9 SK2.1 3.2 -2.0 -1.5 1.8 0.1 -0.8 1.4 2.0 2.4 FI2.1 2.2 -2.4 -0.7 1.3 0.9 -0.7 -0.5 -0.1 0.5 SE2.3 0.9 -2.4 1.0 2.1 0.7 1.0 1.4 1.5 1.7 UK0.8 0.8 -1.6 0.2 0.5 1.1 1.2 2.4 1.7 1.4 Personsinemploymentarethosewho,duringthereferenceweek,didanyworkforpayorprofit,orwerenotworkingbuthadajobfromwhichtheyweretemporarilyabsent.Anyonewhoreceivesawageforon-the-jobtrainingthatinvolvestheproductionofgoodsorservicesisalsoconsideredasbeinginemployment.Self-employedandfamilyworkersarealsoincluded.Datapresentemploymentinresidentproductionunitsirrespectiveoftheplaceofresidenceoftheemployedperson(i.e.domesticscope).Employmentratesrepresentemployedpersonsaged15-64,asapercentageofthesameagepopulationanditismeasuredinnumberofpersonswithoutdistinctionaccording to full-time or part-time work. Data are sourcing from National accounts statistics.Flags:b:Break in series. p:Provisional. 1) HR d: employment growth relates to the use of national concept instead or domestic concept for employment data.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 3.44: Young people neither in employment nor in education and training - % of total population aged 15-24 

87 

2007200820092010201120122013201420152016BE11.2 10.1 11.1 10.9 11.8b12.3 12.7 12.0 12.2 9.9 BG19.1 17.4b19.5 21.0b21.8 21.5 21.6 20.2 19.3 18.2 CZ6.9 6.7 8.5 8.8 8.3b8.9 9.1b8.1 7.5 7.0 DK4.3b4.3 5.4 6.0 6.3 6.6 6.0 5.8 6.2 5.8bDE8.9 8.4b8.8 8.3b7.5b7.1 6.3 6.4 6.2 6.7 EE8.9 8.7 14.5b14.0 11.6 12.2 11.3 11.7 10.8 9.1 IE10.8b15.0 18.6b19.2 18.8 18.7 16.1 15.2 14.3 13.0 EL11.3 11.4b12.4b14.8 17.4 20.2 20.4 19.1 17.2 15.8 ES12.0 14.3 18.1 17.8 18.2 18.6 18.6 17.1b15.6 14.6 FR10.7 10.5 12.7 12.7 12.3 12.5 11.2b11.4b12.0 11.9 HR12.9 11.6 13.4 15.7 16.2 16.6 19.6 19.3 18.1 16.9 IT16.1 16.6 17.6 19.0 19.7 21.0 22.2 22.1 21.4 19.9 CY9.0 9.7 9.9b11.7 14.6 16.0 18.7 17.0 15.3 16.0 LV11.9 11.8 17.5 17.8 16.0 14.9 13.0 12.0 10.5 11.2 LT7.1 8.8 12.1 13.2 11.8 11.2 11.1 9.9 9.2 9.4 LU5.7b6.2 5.8b5.1 4.7 5.9 5.0 6.3 6.2b5.4 HU11.5 11.5 13.6 12.6 13.2 14.8 15.5 13.6 11.6b11.0 MT11.5 8.3 9.9 9.5 10.2 10.6 9.9 10.5 10.4 8.5 NL3.5 3.4 4.1 4.3b4.3 4.9 5.6b5.5 4.7 4.6 AT7.4b7.4 8.2 7.4 7.3 6.8 7.3 7.7 7.5 7.7 PL10.6 9.0b10.1 10.8b11.5 11.8 12.2b12.0 11.0 10.5 PT11.2 10.2 11.2 11.4 12.6b13.9 14.1 12.3 11.3 10.6 RO13.3 11.6 13.9 16.6b17.5 16.8 17.0 17.0 18.1 17.4 SI6.7 6.5 7.5 7.1 7.1 9.3 9.2 9.4 9.5 8.0 SK12.5 11.1 12.5 14.1 13.8b13.8 13.7 12.8 13.7 12.3 FI7.0 7.8 9.9 9.0 8.4 8.6 9.3 10.2 10.6 9.9 SE7.5b7.8b9.6 7.7 7.5 7.8 7.5 7.2 6.7 6.5 UK11.9b12.1b13.2 13.6 14.2 13.9 13.2 11.9 11.1 10.9 Theindicatoryoungpeopleneitherinemploymentnorineducationandtraining(NEET)providesinformationonyoungpeopleaged15to24whomeetthefollowingtwoconditions:(a)theyarenotemployed(i.e.unemployedorinactiveaccordingtotheInternationalLabourOrganisationdefinition)and(b)theyhavenotreceivedanyeducationortraininginthefourweeksprecedingthesurvey.Dataareexpressedasapercentageofthetotalpopulationinthe same age group, excluding the respondents who have not answered the question 'participation to education and training'. Data come from the quarterly EU Labour Force Survey (EU LFS).Flags:b:Break in series. 1) ES: for 2014 - change in the classification of non-formal education activities, FR: 2014 data are further impacted from the changes in the questionnaire introduced in 2013 and inclusion of French overseas departments (DOM).(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.45: People at risk of poverty or social exclusion - % of total population 

88 

2007200820092010201120122013201420152016BE21.6 20.8 20.2 20.8 21.0 21.6 20.8 21.2 21.1 20.7 BG60.7 44.8b46.2 49.2 49.1 49.3 48.0 40.1b41.3 40.4bCZ15.8 15.3 14.0 14.4 15.3 15.4 14.6 14.8 14.0 13.3 DK16.8 16.3 17.6 18.3 17.6b17.5 18.3 17.9 17.7 16.7 DE20.6 20.1 20.0 19.7 19.9 19.6 20.3 20.6 20.0 19.7 EE22.0 21.8 23.4 21.7 23.1 23.4 23.5 26.0b24.2 24.4 IE23.1 23.7 25.7 27.3 29.4 30.3 29.9 27.7 26.0 naEL28.3 28.1 27.6 27.7 31.0 34.6 35.7 36.0 35.7 35.6 ES23.3 23.8b24.7 26.1 26.7 27.2 27.3 29.2 28.6 27.9 FR19.0 18.5b18.5 19.2 19.3 19.1 18.1 18.5 17.7 18.2 HRnanana31.1 32.6 32.6 29.9 29.3 29.1 27.9 IT26.0 25.5 24.9 25.0 28.1 29.9 28.5 28.3 28.7 naCY25.2 23.3b23.5 24.6 24.6 27.1 27.8 27.4 28.9 27.7 LV35.1 34.2b37.9 38.2 40.1 36.2 35.1 32.7 30.9 28.5 LT28.7 28.3 29.6 34.0 33.1 32.5 30.8 27.3 29.3 30.1 LU15.9 15.5 17.8 17.1 16.8 18.4 19.0 19.0 18.5 19.7bpHU29.4 28.2 29.6 29.9 31.5 33.5 34.8 31.8 28.2 26.3 MT19.7 20.1 20.3 21.2 22.1 23.1 24.0 23.8 22.4 20.1 NL15.7 14.9 15.1 15.1 15.7 15.0 15.9 16.5 16.4 16.7bAT16.7 20.6b19.1 18.9 19.2 18.5 18.8 19.2 18.3 18.0 PL34.4 30.5b27.8 27.8 27.2 26.7 25.8 24.7 23.4 21.9 PT25.0 26.0 24.9 25.3 24.4 25.3 27.5 27.5 26.6 25.1 RO47.0 44.2 43.0 41.5 40.9 43.2 41.9 40.3 37.4 38.8pSI17.1 18.5 17.1 18.3 19.3 19.6 20.4 20.4 19.2 18.4 SK21.4 20.6 19.6 20.6 20.6 20.5 19.8 18.4 18.4 18.1 FI17.4 17.4 16.9 16.9 17.9 17.2 16.0 17.3 16.8 16.6 SE13.9 14.9 15.9 15.0 16.1 15.6 16.4 16.9 18.6b18.3 UK22.6 23.2 22.0 23.2 22.7 24.1b24.8 24.1 23.5 22.2 Thisindicatorcorrespondstothepercentage(oftotalpopulation)ofpeoplewhoare:atriskofpovertyorseverelymateriallydeprivedorlivinginhouseholdswithverylowworkintensity.Personsareonlycountedonceeveniftheyarepresentinseveralsub-indicators.Atrisk-of-povertyarepersonswithanequivaliseddisposableincomebelowtherisk-of-povertythreshold,whichissetat60%ofthenationalmedianequivaliseddisposableincome(aftersocialtransfers).Materialdeprivationcoversindicatorsrelatingtoeconomicstrainanddurables.Severelymateriallydeprivedpersonshavelivingconditionsseverelyconstrainedbyalackofresources,theyexperienceatleast4outof9deprivationsitems.Peoplelivinginhouseholdswithverylowworkintensityarethoseaged0-59livinginhouseholdswheretheadults(aged18-59)worklessthan20%oftheirtotalworkpotentialduringthepastyear. Students are excluded. The source of the data is EU Statistics on Income and Living Conditions (EU-SILC).Flags:b:Break in series. p:Provisional. 1) Official transmission deadline for 2016 data on People at risk of poverty and social exclusion is 30 November 2017 while data were extracted on 24 October 2017.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
Table 3.46: People at risk of poverty after social transfers - % of total population 

89 

2007200820092010201120122013201420152016BE15.2 14.7 14.6 14.6 15.3 15.3 15.1 15.5 14.9 15.5 BG22.0 21.4 21.8 20.7 22.2 21.2 21.0 21.8 22.0 22.9bCZ9.6 9.0 8.6 9.0 9.8 9.6 8.6 9.7 9.7 9.7 DK11.7 11.8 13.1 13.3 12.1 12.0 11.9 12.1 12.2 11.9 DE15.2 15.2 15.5 15.6 15.8 16.1 16.1 16.7 16.7 16.5 EE19.4 19.5 19.7 15.8 17.5 17.5 18.6 21.8 21.6 21.7 IE17.2 15.5 15.0 15.2 15.2 16.6 15.7 16.4 16.3 naEL20.3 20.1 19.7 20.1 21.4 23.1 23.1 22.1 21.4 21.2 ES19.7 19.8 20.4 20.7 20.6 20.8 20.4 22.2 22.1 22.3 FR13.1 12.5 12.9 13.3 14.0 14.1 13.7 13.3 13.6 13.6 HRnanana20.6 20.9 20.4 19.5 19.4 20.0 19.5 IT19.5 18.9 18.4 18.7 19.8 19.5 19.3 19.4 19.9 naCY15.5 15.9 15.8 15.6 14.8 14.7 15.3 14.4 16.2 16.1 LV21.2 25.9 26.4 20.9 19.0 19.2 19.4 21.2 22.5 21.8 LT19.1 20.9 20.3 20.5 19.2 18.6 20.6 19.1 22.2 21.9 LU13.5 13.4 14.9 14.5 13.6 15.1 15.9 16.4 15.3 16.5bpHU12.3 12.4 12.4 12.3 14.1 14.3 15.0 15.0 14.9 14.5 MT15.1 15.3 14.9 15.5 15.6 15.1 15.7 15.9 16.3 16.5 NL10.2 10.5 11.1 10.3 11.0 10.1 10.4 11.6 11.6 12.7bAT12.0 15.2 14.5 14.7 14.5 14.4 14.4 14.1 13.9 14.1 PL17.3 16.9 17.1 17.6 17.7 17.1 17.3 17.0 17.6 17.3 PT18.1 18.5 17.9 17.9 18.0 17.9 18.7 19.5 19.5 19.0 RO24.6 23.6 22.1 21.6 22.3 22.9 23.0 25.1 25.4 25.3pSI11.5 12.3 11.3 12.7 13.6 13.5 14.5 14.5 14.3 13.9 SK10.6 10.9 11.0 12.0 13.0 13.2 12.8 12.6 12.3 12.7 FI13.0 13.6 13.8 13.1 13.7 13.2 11.8 12.8 12.4 11.6 SE10.5 12.2 13.3 12.9 14.0 14.1 14.8 15.1 16.3b16.2 UK18.6 18.7 17.3 17.1 16.2 16.0 15.9 16.8 16.6 15.9 Theindicatormeasurespersonswithanequivaliseddisposableincomebelowtherisk-of-povertythreshold,whichissetat60%ofthenationalmedianequivaliseddisposableincome(aftersocialtransfers)asa%oftotalpopulation. Data are expressed in percent of total population. The source of the data is EU Statistics on Income and Living Conditions (EU-SILC).Flags:b:Break in series. p:Provisional. 1) Official transmission deadline for 2016 data is 30 November 2017 while data were extracted on 24 October 2017.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
Table 3.47: Severely materially deprived people - % of total population  

90 

2007200820092010201120122013201420152016BE5.7 5.6 5.2 5.9 5.7 6.3 5.1 5.9 5.8 5.5 BG57.6 41.2 41.9 45.7 43.6 44.1 43.0 33.1 34.2 31.9bCZ7.4 6.8 6.1 6.2 6.1 6.6 6.6 6.7 5.6 4.8 DK3.3 2.0 2.3 2.7 2.3 2.7 3.6 3.2 3.7 2.6 DE4.8 5.5 5.4 4.5 5.3 4.9 5.4 5.0 4.4 3.7 EE5.6 4.9 6.2 9.0 8.7 9.4 7.6 6.2 4.5 4.7 IE4.5 5.5 6.1 5.7 7.8 9.8 9.9 8.4 7.5 7.5eEL11.5 11.2 11.0 11.6 15.2 19.5 20.3 21.5 22.2 22.4 ES3.5 3.6 4.5 4.9 4.5 5.8 6.2 7.1 6.4 5.8 FR4.7 5.4 5.6 5.8 5.2 5.3 4.9 4.8 4.5 4.4 HRnanana14.3 15.2 15.9 14.7 13.9 13.7 12.5 IT7.0 7.5 7.3 7.4 11.1 14.5 12.3 11.6 11.5 11.9pCY13.3 9.1 9.5 11.2 11.7 15.0 16.1 15.3 15.4 13.6 LV24.0 19.3 22.1 27.6 31.0 25.6 24.0 19.2 16.4 12.8 LT16.6 12.5 15.6 19.9 19.0 19.8 16.0 13.6 13.9 13.5 LU0.8 0.7 1.1 0.5 1.2 1.3 1.8 1.4 2.0 1.6bpHU19.9 17.9 20.3 21.6 23.4 26.3 27.8 24.0 19.4 16.2 MT4.4 4.3 5.0 6.5 6.6 9.2 9.5 10.2 8.1 4.4 NL1.7 1.5 1.4 2.2 2.5 2.3 2.5 3.2 2.6 2.6bAT3.3 5.9 4.6 4.3 4.0 4.0 4.2 4.0 3.6 3.0 PL22.3 17.7 15.0 14.2 13.0 13.5 11.9 10.4 8.1 6.7 PT9.6 9.7 9.1 9.0 8.3 8.6 10.9 10.6 9.6 8.4 RO38.0 32.7 32.1 30.5 29.5 31.1 29.8 25.9 22.7 23.8 SI5.1 6.7 6.1 5.9 6.1 6.6 6.7 6.6 5.8 5.4 SK13.7 11.8 11.1 11.4 10.6 10.5 10.2 9.9 9.0 8.2 FI3.6 3.5 2.8 2.8 3.2 2.9 2.5 2.8 2.2 2.2 SE2.2 1.4 1.6 1.3 1.2 1.3 1.4 0.7 1.1b0.8 UK4.2 4.5 3.3u4.8 5.1 7.8 8.3 7.4 6.1 5.2 Severelymateriallydeprivedpersonshavelivingconditionsseverelyconstrainedbyalackofresources.Theyexperiencealackofatleast4outofthe9followingdeprivationsitems:i)topayrentorutilitybills,ii)keephomeadequatelywarm,iii)faceunexpectedexpenses,iv)eatmeat,fishoraproteinequivalenteverysecondday,v)aweekholidayawayfromhome,vi)acar,vii)awashingmachine,viii)acolourTV,orix)atelephone.Dataareexpressed in percentage of total population. The source of the data is EU Statistics on Income and Living Conditions (EU-SILC).Flags:b:Break in series. e:Estimated. p:Provisional. u:Low reliability. 1) Official transmission deadline for 2016 data is 30 November 2017 while data were extracted on 24 October 2017.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 3.48: People living in households with very low work intensity - % of total population aged 0-59 

91 

2007200820092010201120122013201420152016BE13.8 11.7 12.3 12.7 13.8 13.9 14.0 14.6 14.9 14.6 BG16.0 8.1b6.9 8.0 11.0 12.5 13.0 12.1 11.6 11.9bCZ8.6 7.2 6.0 6.4 6.6 6.8 6.9 7.6 6.8 6.7 DK10.1 8.5 8.8 10.6 10.5 10.2 11.9 12.2 11.6 10.6 DE11.5 11.7 10.9 11.2 11.2 9.9 9.9 10.0 9.8 9.6 EE6.2 5.3 5.6 9.0 10.0 9.1 8.4 7.6b6.6 5.8 IE14.3 13.7 20.0 22.9 24.2 23.4 23.9 21.0 19.2 naEL8.1 7.5 6.6 7.6 12.0 14.2 18.2 17.2 16.8 17.2 ES6.8 6.6 7.6 10.8 13.4 14.3 15.7 17.1 15.4 14.9 FR9.6 8.8 8.4 9.9 9.4 8.4 8.1 9.6 8.6 8.4 HRnanana13.9 15.9 16.8 14.8 14.7 14.4 13.0 IT10.2 10.4 9.2 10.6 10.5 10.6 11.3 12.1 11.7 naCY3.7 4.5b4.0 4.9 4.9 6.5 7.9 9.7 10.9 10.6 LV6.2 5.4 7.4 12.6 12.6 11.7 10.0 9.6 7.8 7.2 LT6.4 6.1 7.2 9.5 12.7 11.4 11.0 8.8 9.2 10.2 LU5.0 4.7 6.3 5.5 5.8 6.1 6.6 6.1 5.7 6.6bpHU11.3 12.0 11.3 11.9 12.8 13.5 13.6 12.8 9.4 8.2 MT9.6 8.6 9.2 9.2 8.9 9.0 9.0 9.8 9.2 7.3 NL9.7 8.2 8.5 8.4 8.9 8.9 9.3 10.2 10.2 9.7bAT8.2 7.4b7.1 7.8 8.6 7.7 7.8 9.1 8.2 8.1 PL10.1 8.0 6.9 7.3 6.9 6.9 7.2 7.3 6.9 6.4 PT7.2 6.3 7.0 8.6 8.3 10.1 12.2 12.2 10.9 9.1 RO9.9 8.5 8.1 7.7 7.3 7.9 7.6 7.2 7.9 8.2 SI7.3 6.7 5.6 7.0 7.6 7.5 8.0 8.7 7.4 7.4 SK6.4 5.2 5.6 7.9 7.7 7.2 7.6 7.1 7.1 6.5 FI8.8 7.5 8.4 9.3 10.0 9.3 9.0 10.0 10.8 11.4 SE6.0 5.5 6.4 6.0 6.9 5.7 7.1 6.4 8.7b8.5 UK10.4 10.4 12.7 13.2 11.5 13.0b13.2 12.3 11.9 11.3 Peoplelivinginhouseholdswithverylowworkintensityarepeopleaged0-59livinginhouseholdswheretheadults(aged18-59)workedlessthan20%oftheirtotalworkpotentialduringthepastyear.Studentsareexcluded.Data are expressed in percent of population aged 0-59. The source of the data is EU Statistics on Income and Living Conditions (EU-SILC).Flags:b:Break in series. p:Provisional. 1) Official transmission deadline for 2016 data is 30 November 2017 while data were extracted on 24 October 2017.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat 
 
 
 
 
 
 
 
Chapter 4: Tables by Member States - Headline indicators 

Table 4.1: The MIP scoreboard for Belgium   

92 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%2.0 1.0 0.0 -0.1 -0.1 0.2 -0.5 -0.4 -0.4 -0.3 Net international investment position% of GDP-35%33.6 51.8 57.5 65.2 60.9 51.8 51.9 45.1 47.2 51.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)0.2 3.4 3.9 0.5 -1.6 -4.3 -0.2 -0.6 -1.6 -0.4 Export market share - % of world exports5 year % change-6%-6.7 -11.0 -9.0 -11.3 -7.5 -15.2 -12.7 -13.0 -11.9 -2.3 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.2 8.9 10.0 7.3 5.3 5.4 8.3 5.5 1.5 -0.6 House price index (2015=100), deflated 1 year % change6%4.8 1.2 -0.1 1.4 1.0 0.3 0.4 -1.3 1.4p1.0pPrivate sector credit flow, consolidated% of GDP14%17.0 16.5 8.9 1.4 21.8 15.3 7.4 -1.9 12.2 13.3 Private sector debt, consolidated% of GDP133%134.5 162.7 168.9 164.4 177.0 185.5 165.4 166.0 178.9 190.1 General government gross debt% of GDP60%87.0 92.5 99.5 99.7 102.6 104.3 105.5 106.8 106.0 105.7 Unemployment rate3 year average10%8.1 7.6 7.5 7.7 7.8 7.7 7.7 8.2 8.5 8.3 Total financial sector liabilities, non-consolidated1 year % change16.5%14.7 -4.4 0.8 -1.4 5.4 -5.2 0.9 2.7 2.7 1.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.2 0.4 0.4 0.6 -0.4 0.0 -0.2 1.0 0.7 0.1 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.3 -1.1 -0.7 0.2 0.2 -0.1 -0.1 0.8 1.0 0.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-2.4 -3.5 1.4 3.6 0.7 -2.1 1.3 4.5 2.3 -3.6 BelgiumExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 4.2: The MIP scoreboard for Bulgaria   

93 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-17.5 -21.0 -18.1 -10.7 -3.2 -0.7 0.3 0.2 0.4 1.8 Net international investment position% of GDP-35%-39.4 -48.0 -49.7 -91.9 -82.8 -77.9 -73.3 -75.2 -61.2 -47.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)9.8 18.5 18.3 9.7 1.9 -4.0 -0.9 -2.8 -4.2 -4.7 Export market share - % of world exports5 year % change-6%45.7 35.6 19.2 8.1 11.3 -0.6 0.3 5.9 12.2 8.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)16.7 25.5 34.6 29.5 17.7 12.2p15.6p18.0p14.9p9.5pHouse price index (2015=100), deflated 1 year % change6%18.3p17.6p-21.0p-12.3p-8.7p-5.3p0.4p1.5p1.6bp7.1pPrivate sector credit flow, consolidated% of GDP14%41.2 33.3 4.7 3.7 1.4 3.0 7.2 -1.1 -0.3 4.0 Private sector debt, consolidated% of GDP133%123.4 131.4 133.8 132.5 124.2 125.0 131.9 123.6 110.5 104.9 General government gross debt% of GDP60%16.3 13.0 13.7 15.3 15.2 16.7 17.0 27.0 26.0 29.0 Unemployment rate3 year average10%8.7 7.2 6.4 7.6i9.5i11.3i12.2 12.2 11.2 9.4 Total financial sector liabilities, non-consolidated1 year % change16.5%29.3 -0.8 1.3 -5.4 5.4 10.2 4.3 5.6 6.2 11.1 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp4.5 5.7 2.7 0.4b-1.9b-0.1 1.7b3.1b2.2 0.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-3.1 -3.1 -2.0 0.6b3.4b3.8 2.7 0.6 -1.2 -2.9 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-10.2 -9.1 -3.2 7.8i13.1 13.0 6.5 -1.2 -6.5 -11.2 BulgariaExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results. 3) Youth unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 4.3: The MIP scoreboard for Czech Republic  

94 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-3.1 -3.0 -2.9 -2.6 -2.6 -2.4 -1.4 -0.6 0.0 0.5 Net international investment position% of GDP-35%-36.4 -38.1 -43.9 -46.0 -45.2 -45.9 -41.4 -36.6 -32.9 -24.6 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)12.4 23.2 13.6 12.1 -0.5 0.5 -3.0 -10.0 -8.1 -3.7 Export market share - % of world exports5 year % change-6%58.4 53.1 27.2 11.8 7.6 -4.0 -9.4 -5.8 -1.8 2.9 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)2.5 6.8 9.0 6.4 3.4 3.8 4.2 4.0 0.1 2.9 House price index (2015=100), deflated 1 year % change6%16.0e7.7e-4.7 -2.2 -1.7 -3.6 -0.8 1.8 3.8p6.7pPrivate sector credit flow, consolidated% of GDP14%9.3 9.3 0.5 2.6 2.1 2.9 4.4 1.7 0.3 4.4 Private sector debt, consolidated% of GDP133%57.4 63.8 65.9 67.9 68.3 70.7 73.7 71.5 68.1 68.7 General government gross debt% of GDP60%27.5 28.3 33.6 37.4 39.8 44.5 44.9 42.2 40.0 36.8 Unemployment rate3 year average10%6.8 5.6 5.5 6.1 6.9 7.0 6.9 6.7 6.1 5.1 Total financial sector liabilities, non-consolidated1 year % change16.5%15.5 6.0 2.5 3.2 4.3 5.2 11.4 5.2 8.1 14.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.1 -0.7 -0.2 0.3 0.8b1.5 2.7 3.0b2.4 2.1 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.4 -2.0 -1.9 0.2 0.5b1.0 0.0 0.0 -0.6 -1.3 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-9.7 -9.4 -0.9 7.6 8.2 2.9 0.6 -2.2 -6.9 -8.4 Employment indicatorsFlags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Czech RepublicExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
Table 4.4: The MIP scoreboard for Denmark  

95 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%3.0 2.6 2.6 4.3 5.5 6.5 6.9 7.7 8.5 8.4 Net international investment position% of GDP-35%-5.8 -5.1 0.9 12.8 27.8 36.1 37.2 43.4 34.3 54.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.3 2.2 5.5 0.1 -2.6 -7.8 -2.5 -1.2 -1.6 -1.5 Export market share - % of world exports5 year % change-6%-6.0 -4.1 -1.1 -10.5 -13.6 -17.4 -17.5 -15.5 -8.2 -4.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.8 13.2 16.4 9.5 3.6 -0.1 1.5 2.4 2.6 3.4 House price index (2015=100), deflated 1 year % change6%0.9 -7.8 -13.0 0.3 -4.0 -4.9 3.1 2.9 6.3 4.2 Private sector credit flow, consolidated% of GDP14%17.1 18.8 -1.9 -2.9 4.4 7.9 -3.1 0.0 -6.2 -10.4 Private sector debt, consolidated% of GDP133%208.5 222.3 232.2 220.6 221.0 224.0 216.1 214.7 207.6 210.7 General government gross debt% of GDP60%27.3 33.3 40.2 42.6 46.1 44.9 44.0 44.0 39.5 37.7 Unemployment rate3 year average10%4.2i3.7i4.4 5.6 7.0 7.5 7.4 7.0 6.6 6.3 Total financial sector liabilities, non-consolidated1 year % change16.5%10.2 0.0 5.6 9.7 1.6 2.5 1.8 7.3 -1.0 3.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.0 0.9 -0.4 -0.7 -1.4 -1.6 -1.3 -1.2 -0.1 1.9bLong-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.6 -0.6 -0.2 0.9 1.3 1.5 0.3 -0.1 -0.4 -0.4bYouth unemployment rate - % of active population aged 15-243 year change in pp2 pp-0.7 -0.6 4.1 6.4 6.2 2.3 -0.9 -1.6 -3.3 -1.0 DenmarkExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series.1) For the employment indicators, see page 2 of the AMR 2016. 2) Unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 4.5: The MIP scoreboard for Germany  

96 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%5.7 6.0 6.0 5.7 5.8 6.2 6.6 7.1 7.6 8.1 Net international investment position% of GDP-35%18.7 18.1 25.0 25.6 23.2 28.5 34.5 40.9 48.6 54.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.5 0.9 2.9 -3.8 -4.8 -9.0 -1.8 -0.4 -2.1 -2.6 Export market share - % of world exports5 year % change-6%2.1 -4.5 -6.7 -7.7 -9.0 -16.2 -12.1 -8.6 -2.5 2.8 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)-2.9 -0.1 8.1 7.5 5.7 2.7 5.9 7.0 5.6 5.2 House price index (2015=100), deflated 1 year % change6%-3.7 -0.4 1.3 -0.8 1.4 1.9 2.1 2.2 4.1 5.4 Private sector credit flow, consolidated% of GDP14%2.1 0.5 -0.9 0.0 1.6 1.3 2.0 0.5 3.0 3.8 Private sector debt, consolidated% of GDP133%110.9 109.7 113.0 106.7 102.5 101.8 102.9 99.4 98.7 99.3 General government gross debt% of GDP60%63.7 65.1 72.6 80.9 78.6 79.8 77.4 74.6 70.9 68.1 Unemployment rate3 year average10%9.9i8.7 7.8 7.3 6.8 6.1 5.5 5.2 4.9 4.6 Total financial sector liabilities, non-consolidated1 year % change16.5%8.2 4.6 -6.3 -1.1 2.9 3.3 -6.2 4.5 2.9 5.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp3.0e2.1b1.4 1.1b1.4b0.9 0.9b0.4b0.4 0.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.6 -2.0 -2.2 -1.6b-1.1b-1.1 -1.0 -0.6 -0.4 -0.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-1.9 -5.0 -2.5 -2.0 -1.9 -3.1 -2.0 -0.8 -0.8 -0.7 GermanyExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. e:Estimated. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 4.6: The MIP scoreboard for Estonia 

97 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-12.9 -12.9 -7.1 -1.5 1.9 0.4 0.0 -0.4 0.9 1.4 Net international investment position% of GDP-35%-71.3 -75.4 -80.1 -71.2 -54.8 -51.1 -50.1 -46.9 -39.8 -37.1 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)6.5 12.6 13.6 4.6 -0.8 -3.6 3.1 4.8 5.9 4.5 Export market share - % of world exports5 year % change-6%53.9 37.0 16.3 9.5 24.5 7.3 10.2 20.4 7.9 -0.7 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)31.8 48.7 39.2 13.8 -2.6 0.0 9.1 14.0 13.5 13.4 House price index (2015=100), deflated 1 year % change6%12.2 -16.6 -37.0 2.1 2.7 3.2 7.5 13.0 7.1 3.8 Private sector credit flow, consolidated% of GDP14%12.3 10.5 -6.0 -7.6 -1.1 6.8 3.5 5.7 3.0 5.9 Private sector debt, consolidated% of GDP133%123.0 136.7 153.2 140.4 120.4 117.8 115.9 118.0 115.2 115.4 General government gross debt% of GDP60%3.7 4.5 7.0 6.6 6.1 9.7 10.2 10.7 10.0 9.4 Unemployment rate3 year average10%6.2 5.3i7.9i11.9i14.2 13.0 10.3 8.7 7.4 6.8 Total financial sector liabilities, non-consolidated1 year % change16.5%27.9 4.3 -7.8 -8.9 -0.6 10.4 10.4 13.1 8.7 7.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.7 3.5 1.2 0.7 0.5 0.8 1.2 0.5 1.9 2.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-2.9 -2.7 0.8 5.3 5.4 1.8 -3.8 -3.8 -3.1 -1.7 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-13.8 -3.1i15.3 22.8 10.4 -6.5 -14.2 -7.4 -7.8 -5.3 Employment indicators1) For the employment indicators, see page 2 of the AMR 2016. 2) Unemployment rate:  i = Eurostat back-calculation to include 2011 Population Census results. 3) Youth unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)EstoniaExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.7: The MIP scoreboard for Ireland 

98 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-5.1 -6.3 -6.3 -4.8 -3.3 -2.3 -1.0 0.4 4.9 5.5 Net international investment position% of GDP-35%-31.4 -95.7 -116.5 -114.6 -139.2 -137.4 -131.6 -161.0 -195.1 -176.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)3.0 7.3 5.1 -5.4 -9.6 -12.2 -3.8 -3.6 -6.3 -6.6 Export market share - % of world exports5 year % change-6%-12.0 -16.7 1.9 -6.2 -10.1 -15.9 -7.8 -12.1 41.0 59.8 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)13.1 16.8 7.8 -6.7 -15.4b-11.8 -1.9 -3.7 -19.5 -20.5 House price index (2015=100), deflated 1 year % change6%4.8 -8.0 -13.2 -11.3p-17.8p-14.8p-0.5p15.1p11.0p6.6pPrivate sector credit flow, consolidated% of GDP14%24.9 22.0 -4.5 2.2 16.3 -0.6 -1.4 2.5 -3.1 -19.0 Private sector debt, consolidated% of GDP133%198.1 236.4 256.1 257.2 272.7 279.1 267.1 279.4 306.5 278.1 General government gross debt% of GDP60%23.9 42.4 61.5 86.1 110.3 119.6 119.4 104.5 76.9 72.8 Unemployment rate3 year average10%4.5 5.2 7.7 10.8 13.5 14.4 14.2 13.0 11.3 9.5 Total financial sector liabilities, non-consolidated1 year % change16.5%9.6 6.5 3.4 6.3 -2.2 -1.8 0.3 19.5 9.7 2.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp3.1b1.3 -1.3b-3.2b-2.9 -1.4b0.4 0.6 0.8 0.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.2b0.3 2.1b5.4 6.9 5.5 1.0 -2.0 -3.7 -3.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp0.4 4.6 15.3 18.5 15.8 6.4 -0.8 -5.2 -9.5 -9.6 IrelandExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)2015PSD,PSCF:significantincreasesduetore-domicilingoflargemultinationalcorporationsandmovementoflargepartsoftheirbalancesheets.3)2016PSD,PSCF:thedeclineforIErelativeto2015predominantlyreflectsrestructuringandre-domicilingactivities of large multinational companies.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 4.8: The MIP scoreboard for Greece 

99 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-11.8 -13.9 -14.2 -12.9 -11.2 -8.4 -5.3 -2.5 -1.3 -1.0 Net international investment position% of GDP-35%-93.7 -75.8 -87.5 -99.0 -88.8 -115.9 -130.4 -131.9 -136.3 -139.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.4 2.4 4.8 2.8 1.8 -5.0 -4.4 -5.6 -5.6 -3.9 Export market share - % of world exports5 year % change-6%9.3 4.8 -10.3 -14.2 -15.7 -24.9 -25.4 -18.1 -20.7 -19.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)11.0 7.4 15.8 14.0 6.8p-2.3p-10.0p-10.4p-9.8p-3.3pHouse price index (2015=100), deflated 1 year % change6%2.1e-2.5e-4.6e-8.1e-7.5e-12.0e-9.2e-5.0e-3.5e-2.0ePrivate sector credit flow, consolidated% of GDP14%16.2 15.5 2.2 5.5 -6.5p-5.9p-6.4p-2.7p-3.3p-1.7pPrivate sector debt, consolidated% of GDP133%101.5 113.0 116.5 128.1 130.2p131.5p129.1p128.0p126.1p124.7pGeneral government gross debt% of GDP60%103.1 109.4 126.7 146.2 172.1 159.6 177.4 179.0 176.8 180.8 Unemployment rate3 year average10%9.1 8.4 8.6 10.0 13.4 18.4 23.3 26.2 26.3 25.0 Total financial sector liabilities, non-consolidated1 year % change16.5%22.2 4.4 10.1 8.3 -3.7 -2.6 -17.2 -8.4 15.6 -16.6 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.3b0.3 0.7b1.3 0.6 0.1b-0.3 0.1 0.3 0.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.4 -1.5 -1.0b1.5 5.1 10.6 12.8 10.7 3.7 -1.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-3.8 -3.9 0.7 10.3 22.8 29.6 25.3 7.7 -5.5 -11.0 GreeceExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e = source NCB.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 4.9: The MIP scoreboard for Spain 

100 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-8.7 -9.3 -7.7 -5.8 -3.8 -2.4 -0.6 0.8 1.2 1.4 Net international investment position% of GDP-35%-79.6 -80.2 -93.5 -88.6 -91.9 -89.9 -95.2 -97.8 -89.7 -83.9 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)2.7 5.2 4.6 -0.3 -2.5 -5.3 -0.3 -1.0 -3.1 -4.3 Export market share - % of world exports5 year % change-6%-4.8 -14.3 -9.0 -11.6 -8.4 -17.9 -10.8 -11.9 -3.8 2.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)11.3 13.7 11.8 5.7 -1.0 -5.1 -4.1 -3.4 0.5p0.4pHouse price index (2015=100), deflated 1 year % change6%6.3 -4.8 -5.8 -3.6 -9.8 -16.8 -10.0 0.1 3.7 4.7 Private sector credit flow, consolidated% of GDP14%26.4 11.7 -1.2 0.9 -3.7 -11.2 -10.3 -7.0 -1.8p-1.0pPrivate sector debt, consolidated% of GDP133%191.2 195.7 201.4 200.3 196.2 187.8 176.9 165.5 154.6p146.7pGeneral government gross debt% of GDP60%35.6 39.5 52.8 60.1 69.5 85.7 95.5 100.4 99.4 99.0 Unemployment rate3 year average10%8.6 9.3 12.5 16.4 19.7 22.0 24.1 25.1 24.2 22.1 Total financial sector liabilities, non-consolidated1 year % change16.5%16.8 3.8 3.8 -1.8 3.0 2.9 -10.9 -0.4 -1.3 0.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.9 2.7b2.0 1.7 1.2 1.2 0.8 0.3 0.0 -0.1 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.8 -0.2 2.5 5.6 6.9 6.7 5.7 4.0 0.4 -3.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-3.9 4.9 19.8 23.4 21.7 15.2 14.0 7.0 -4.6 -11.1 Employment indicatorsFlags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)SpainExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.10: The MIP scoreboard for France   

101 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-0.1 -0.4 -0.7 -0.9 -0.9 -1.0 -1.0 -1.1 -0.7 -0.7 Net international investment position% of GDP-35%-8.9 -13.8 -14.8 -9.3 -8.7 -12.8 -16.6 -15.6 -15.7 -15.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.6 1.5 2.6 -2.3 -4.4 -7.8 -2.2 -1.3 -2.8 -3.1 Export market share - % of world exports5 year % change-6%-17.0 -18.8 -14.4 -17.4 -15.3 -18.3 -14.6 -14.2 -5.6 -2.4 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.7 6.5 8.2 7.5 5.5 4.3 4.6 4.6 2.2p1.4pHouse price index (2015=100), deflated 1 year % change6%3.5b-1.9 -4.8 3.6 4.0 -1.9 -2.6 -1.7 -1.8 1.0 Private sector credit flow, consolidated% of GDP14%11.2 9.8 3.3 4.6 6.4 4.4 2.1 3.3 4.9p6.2pPrivate sector debt, consolidated% of GDP133%115.6 122.2 130.5 131.8 135.3 138.5 137.7 141.9 143.7p146.9pGeneral government gross debt% of GDP60%64.3 68.0 78.9 81.6 85.2 89.6 92.4 95.0 95.8 96.5 Unemployment rate3 year average10%8.6 8.1 8.2 8.6 9.2 9.4 9.8 10.1 10.3 10.3 Total financial sector liabilities, non-consolidated1 year % change16.5%12.6 1.9 0.1 3.3 6.7 1.2 0.4 5.3 1.7 4.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.0 0.2 0.6 0.5 0.3 0.5 0.9 1.4 1.0 0.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.4e-0.8e-0.5e0.6e1.1e0.8e0.5e0.5 0.5 0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-0.9 -2.0 1.6 3.8 3.7 0.8 1.6 1.5 0.3 -0.3 FranceExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 4.11: The MIP scoreboard for Croatia   

102 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-6.4 -7.6 -7.2 -5.2 -2.4 -0.7 0.0 0.9 2.5 2.9 Net international investment position% of GDP-35%-89.1 -73.8 -86.9 -94.0 -91.5 -90.6 -88.5 -85.4 -76.5 -70.1 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)1.9 5.6 5.9 1.8 -4.7 -8.4 -3.9 -0.9 0.2 0.1 Export market share - % of world exports5 year % change-6%12.9 -5.7 -5.2 -13.1 -16.0 -23.8 -23.0 -19.9 -5.8 8.1 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)7.8p10.1d16.1d11.8d6.3d-1.6d-3.9d-6.4d-6.1d-5.9dHouse price index (2015=100), deflated 1 year % change6%8.9e-2.6e-8.0 -7.7 -2.1 -4.6 -5.8 -1.1 -2.4 2.1 Private sector credit flow, consolidated% of GDP14%16.8 16.1 2.6 4.9 -2.3 -3.0 -0.6 0.1 -1.4 -0.1ePrivate sector debt, consolidated% of GDP133%101.3 110.8 119.1 125.3 122.8 120.0 117.9 118.1 113.2 106.1eGeneral government gross debt% of GDP60%37.7 39.6 49.0 58.2 65.0 70.6 81.7 85.8 85.4 82.9 Unemployment rate3 year average10%11.5i10.0i9.3 9.9 11.6 13.8 15.6 16.8 16.9 15.6 Total financial sector liabilities, non-consolidated1 year % change16.5%23.6 -8.2 5.0 3.1 2.6 1.0 3.2 0.2 2.1 2.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.2e2.5e2.6e-0.6 -1.7 -1.7 -1.4 2.0 3.0 1.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.3 -1.7 -1.3 0.6 3.1 5.1 4.4 1.7 0.0 -4.4 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-7.5 -8.1 -3.5 6.9 13.0 16.8 17.6 8.3 0.1 -18.1 CroatiaExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e= source NCB. 3) Unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results. 4) NULC d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 4.12: The MIP scoreboard for Italy 

103 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-1.3 -1.9 -2.0 -2.7 -2.8 -2.2 -0.8 0.9 1.5 2.1 Net international investment position% of GDP-35%-21.2 -21.7 -22.3 -20.2 -18.3 -22.2 -22.7 -21.2 -19.7 -9.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.2 1.9 3.6 -2.0 -3.2 -6.2 0.1 0.2 -2.4 -3.4 Export market share - % of world exports5 year % change-6%-8.9 -15.9 -17.9 -18.9 -19.2 -25.3 -19.9 -14.9 -8.9 -2.8 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)6.5 8.5 11.1 8.9 5.3 2.1 2.9 2.3 1.6 1.9 House price index (2015=100), deflated 1 year % change6%2.6e-0.5e-0.1e-2.2be-2.1p-5.4p-6.9p-4.6p-2.7p-0.8pPrivate sector credit flow, consolidated% of GDP14%12.0 6.6 0.8 5.0 3.1 -0.8 -3.0 -0.5 -1.3 0.6 Private sector debt, consolidated% of GDP133%109.7 113.9 122.5 123.3 122.7 125.1 121.6 119.0 115.3 113.6 General government gross debt% of GDP60%99.8 102.4 112.5 115.4 116.5 123.4 129.0 131.8 131.5 132.0 Unemployment rate3 year average10%6.9 6.5 6.8 7.6 8.2 9.2 10.4 11.8 12.2 12.1 Total financial sector liabilities, non-consolidated1 year % change16.5%0.6 -0.8 5.0 4.2 5.0 7.3 -2.6 0.5 1.5 3.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.4b0.4 -0.3 -0.4 -0.8 1.2 1.4 1.8 0.5 1.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.9 -0.7 0.1 1.1 1.3 2.2 2.9 3.4 1.3 -0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-3.1 -2.9 3.5 7.5 8.0 10.0 12.1 13.5 5.0 -2.2 ItalyExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e = source NCB.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 4.13: The MIP scoreboard for Cyprus   

104 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-8.6 -11.8 -11.7 -11.5 -7.7 -7.1 -5.0 -5.1 -3.6 -3.6 Net international investment position% of GDP-35%-56.5 -79.1 -100.3 -111.2 -129.9 -129.1 -138.7 -147.0 -145.0 -127.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.3 2.3 3.6 -0.1 -3.0 -5.9 -0.8 -1.7 -6.1 -6.5 Export market share - % of world exports5 year % change-6%-18.7e-25.3e-9.1e-15.8e-11.4e-21.7e-14.9 -23.8 -11.9 -3.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.8 6.1 12.4 10.6 9.4 3.2 -2.1 -7.6 -10.6 -6.2pHouse price index (2015=100), deflated 1 year % change6%8.0 0.6 -6.7 -7.7p-4.5p-5.3p-4.1p-1.3p0.3bp1.6 Private sector credit flow, consolidated% of GDP14%30.4 29.8 13.3 15.1 13.0 16.5 -13.3 -0.3 4.1 10.2pPrivate sector debt, consolidated% of GDP133%265.5 285.0 306.0 315.6 321.6 328.1 340.1 352.5 353.5 344.6pGeneral government gross debt% of GDP60%53.5 45.1 53.8 56.3 65.7 79.7 102.6 107.5 107.5 107.1 Unemployment rate3 year average10%4.6 4.1 4.3 5.1 6.5 8.7 11.9 14.6 15.7 14.7 Total financial sector liabilities, non-consolidated1 year % change16.5%27.2 115.7 11.7 8.4 -6.1 6.3 -15.3 -3.7 11.1 0.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.3e1.2 0.0b-0.3 -0.1 0.5b0.0 0.8 0.4 -0.2 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.6 -0.8 -0.3b0.6 1.1 3.0 4.8 6.1 3.2 -0.3 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp0.0 -4.9 3.8 6.4 13.4 13.9 22.3 13.6 5.1 -9.8 Employment indicatorsFlags:b:Break in series. e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)CyprusExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
Table 4.14: The MIP scoreboard for Latvia 

105 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-17.7 -17.9 -8.4 -0.8 2.2 -1.6 -3.2 -2.7 -1.6 -0.3 Net international investment position% of GDP-35%-69.0 -74.2 -82.7 -82.9 -74.4 -67.2 -66.3 -65.9 -63.8 -58.9 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)7.7 20.8 23.5 6.7 -2.4 -8.6 -1.6 0.4 2.7 4.9 Export market share - % of world exports5 year % change-6%95.6 76.8 52.6 21.8 26.8 8.4 6.3 11.5 12.9 9.3 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)69.7 78.3 37.2 -2.2 -21.0 -6.9 7.9 16.1 17.5 16.5 House price index (2015=100), deflated 1 year % change6%22.0 -10.9 -34.9 -8.7 4.1 -0.4 6.5 4.3 -2.4 7.4 Private sector credit flow, consolidated% of GDP14%29.5 9.1 -8.6 2.5 -2.0 -2.1 0.9 -11.8 0.7 0.3 Private sector debt, consolidated% of GDP133%102.6 104.5 125.4 134.0 115.3 97.9 92.4 96.0 88.8 88.3 General government gross debt% of GDP60%8.0 18.2 35.8 46.8 42.7 41.2 39.0 40.9 36.9 40.6 Unemployment rate3 year average10%7.7 6.9 10.4 14.9 17.7 16.9 14.4 12.6 10.9 10.1 Total financial sector liabilities, non-consolidated1 year % change16.5%36.7 9.0 -9.2 -0.3 -4.1 5.2 5.2 10.4 12.2 5.8 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp3.3 5.1 2.5 0.4 -1.4 0.9 1.0 1.8 1.3 2.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-3.4 -2.6 2.1 7.2 6.9 3.3 -3.1 -4.2 -3.3 -1.7 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-9.4 -1.5 19.7 25.6 17.4 -4.8 -13.0 -11.4 -12.2 -5.9 LatviaExternal imbalances and competitivenessInternal imbalancesEmployment indicators1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 4.15: The MIP scoreboard for Lithuania 

106 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-11.2 -13.3 -9.2 -4.5 -1.5 -2.4 -1.7 0.9 0.4 -0.3 Net international investment position% of GDP-35%-54.6 -51.5 -58.4 -55.9 -52.5 -53.4 -47.0 -45.1 -43.9 -43.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)0.9 8.9 16.7 7.2 1.7 -6.7 -0.6 1.7 4.3 5.4 Export market share - % of world exports5 year % change-6%30.5e43.1e30.8 19.1 29.7 32.9 19.8 34.2 15.3 5.4 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)25.0 28.8 13.0 0.3 -7.8 -4.2 6.2 8.7 11.7 14.7 House price index (2015=100), deflated 1 year % change6%19.3 -1.8 -32.8 -8.6 2.4 -3.2 0.2 6.3 4.6 4.5 Private sector credit flow, consolidated% of GDP14%22.8 10.3 -9.4 -5.9 -2.2 0.3 -1.3 0.3 1.9 4.3 Private sector debt, consolidated% of GDP133%74.7 76.7 83.3 74.5 64.7 61.1 56.3 53.9 54.7 56.2 General government gross debt% of GDP60%15.9 14.6 28.0 36.2 37.2 39.8 38.8 40.5 42.6 40.1 Unemployment rate3 year average10%6.1 5.3 8.0 12.5 15.7 15.5 13.5 12.0 10.5 9.2 Total financial sector liabilities, non-consolidated1 year % change16.5%34.6 4.2 -4.7 0.3 2.5 -1.0 -1.4 16.2 7.0 16.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-1.3 -0.3 2.0 2.3 3.0 2.2 2.2 2.3 2.3 3.1 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-4.2u-3.1u0.7 6.0 6.7 3.3 -2.3 -3.2 -2.7 -2.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-13.4 -2.5 19.6 27.3 19.3 -2.9 -13.8 -13.3 -10.4 -7.4 LithuaniaExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:e:Estimated. u:Low reliability. 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 4.16: The MIP scoreboard for Luxembourg 

107 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%10.2 9.1 8.2 7.1 6.6 6.1 5.7 5.4 5.2 5.0 Net international investment position% of GDP-35%-18.2 16.3 -28.9 -20.4 28.9 49.5 51.5 31.9 37.7 34.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)2.4 3.4 3.8 1.2 0.1 -2.4 0.8 0.5 -0.5 -1.5 Export market share - % of world exports5 year % change-6%25.6 15.7 11.9 3.4 -3.7 -9.8 3.9 11.8 24.3 26.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)6.8 12.6 17.6 16.0 8.8 5.9 7.6 4.2 2.3 2.5 House price index (2015=100), deflated 1 year % change6%4.7be0.2 -0.6 4.2 0.5 2.2 3.3 3.9 5.3 5.9 Private sector credit flow, consolidated% of GDP14%148.8 -5.5 8.6 -23.6 20.0 24.7 27.3 24.7 47.0 1.5 Private sector debt, consolidated% of GDP133%309.6 296.1 326.5 277.9 277.0 295.5 305.0 313.0 348.6 343.6 General government gross debt% of GDP60%7.7 14.9 15.7 19.8 18.7 22.0 23.7 22.7 22.0 20.8 Unemployment rate3 year average10%4.5i4.6i4.7 4.9 4.8 4.8 5.3 5.7 6.1 6.3 Total financial sector liabilities, non-consolidated1 year % change16.5%13.7 -6.4 6.3 11.6 11.0 13.2 10.4 33.1 12.2 7.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.1b0.2 2.0b1.3b1.1 0.7b1.7 2.9 1.5b0.1 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.1b0.4 -0.2b0.1 -0.2 0.4 0.5 0.2 0.3b0.4 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-0.8 2.7 1.0 0.2 -0.9 1.5 1.1 5.9 -1.4 2.2 Employment indicatorsFlags:b:Break in series. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Internationalinvestmentpositionhasbeenreviseddownwardsin2015followingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindex:e=sourceNSI&NCBestimates.4)Unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results. 5) Private sector debt, private sector credit flow: due to improved sources and methods, there are significant revisions in the time series. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)LuxembourgExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.17: The MIP scoreboard for Hungary 

108 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-7.0 -7.0 -4.9 -2.5 0.1 0.9 2.1 2.3 2.9 3.6 Net international investment position% of GDP-35%-88.1 -101.7 -115.0 -108.3 -105.7 -93.6 -83.1 -80.3 -67.8 -65.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)6.5 7.9 7.7 -1.3 -4.2 -0.8 -3.8 -6.8 -7.1 -5.0 Export market share - % of world exports5 year % change-6%28.7 25.3 12.9 3.5 -2.2 -21.0 -22.5 -16.3 -7.8 -0.4 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)10.0 11.3 12.6 6.9 4.3 5.0 6.2 5.9 -0.2 3.3 House price index (2015=100), deflated 1 year % change6%na-3.1 -9.0 -5.9 -6.9 -9.2 -4.3 3.3 13.3 13.6 Private sector credit flow, consolidated% of GDP14%15.9 12.6 6.0 -4.2 -4.4 -6.1 -0.9 -0.1 -2.6 -3.6 Private sector debt, consolidated% of GDP133%93.7 105.0 116.4 114.9 114.4 101.6 95.1 91.2 84.3 77.0 General government gross debt% of GDP60%65.0 71.0 77.2 79.7 79.9 77.6 76.0 75.2 74.7 73.9 Unemployment rate3 year average10%7.4 7.6i8.4i9.7i10.7 11.1 10.7 9.6 8.2 6.5 Total financial sector liabilities, non-consolidated1 year % change16.5%23.7 26.1 1.9 -0.3 6.3 -5.8 -1.2 8.6 0.6 19.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.1 -0.1 -0.8 0.3 1.2 2.5 2.8 4.6 4.9 5.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.8 0.4 0.8 2.0 1.6 0.8 -0.6 -1.5 -1.9 -2.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp2.6 0.1i7.3 8.3 6.5 1.8 0.2 -5.6 -10.9 -13.7 HungaryExternal imbalances and competitivenessInternal imbalancesEmployment indicators1) For the employment indicators, see page 2 of the AMR 2016. 2) Unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results. 3) Youth unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 4.18: The MIP scoreboard for Malta 

109 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-5.0 -3.2 -3.2 -4.1 -3.8 -1.1 1.4 4.4 5.3 6.7 Net international investment position% of GDP-35%21.4 4.2 12.6 12.1 6.3 19.6 27.0 43.3 52.2 47.6 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)1.2 5.9 5.9 -0.8 -5.0 -7.6 -1.2 0.1 -2.7 -2.5 Export market share - % of world exports5 year % change-6%na10.9 45.8 38.0 17.8 12.7 -0.2 -12.1 -2.0 8.7 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)4.9 9.5 11.2 9.2 11.0 8.7 9.8 3.4 0.1 -0.1 House price index (2015=100), deflated 1 year % change6%19.6 7.1 -6.2 -1.1 -3.4 0.7 -1.6 2.5 5.1 4.8pPrivate sector credit flow, consolidated% of GDP14%7.8 13.4 12.7 7.5 5.4 -0.7 2.7 3.9 2.8 11.1 Private sector debt, consolidated% of GDP133%146.7 153.3 168.1 162.4 159.8 153.3 143.9 135.9 125.8 128.4 General government gross debt% of GDP60%62.3 62.6 67.6 67.5 70.1 67.8 68.4 63.8 60.3 57.6 Unemployment rate3 year average10%6.7 6.4 6.5 6.6 6.7 6.5 6.4 6.2 5.9 5.3 Total financial sector liabilities, non-consolidated1 year % change16.5%44.0 13.2 4.3 12.4 11.0 6.1 1.6 6.4 1.3 1.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.6 1.5b1.5 1.6 2.7 3.7 4.6 4.5 4.5 4.1 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.7 -0.8 0.2 0.4 0.4 0.2 -0.2 -0.3 -0.7 -1.0 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-3.1 -4.4 -1.0 -0.3 1.6 -0.4 -0.2 -1.6 -2.3 -2.0 MaltaExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. (cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 4.19: The MIP scoreboard for Netherlands 

110 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%7.8 7.1 5.8 5.9 7.1 8.7 9.6 9.6 9.0 8.8 Net international investment position% of GDP-35%-15.0 -8.1 1.4 11.2 20.4 27.0 31.0 48.7 55.1 69.1 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-2.1 -0.1 2.7 -1.6 -2.4 -6.0 0.5 0.7 -0.8 -2.3 Export market share - % of world exports5 year % change-6%-2.5 -6.1 -5.4 -8.1 -8.2 -12.4 -11.0 -11.0 -6.4 0.1 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)2.3 6.6 12.1 7.6 4.8 2.3 5.2 4.2 -0.4p-1.1pHouse price index (2015=100), deflated 1 year % change6%2.4 0.0 -3.4 -2.7 -4.0 -8.1 -8.2 0.0 3.4 4.4 Private sector credit flow, consolidated% of GDP14%12.9 9.7 8.6 1.7 4.2 2.0 1.5 -1.8 -0.8p1.5pPrivate sector debt, consolidated% of GDP133%214.9 216.3 228.8 225.8 225.0 225.9 223.4 225.7 225.1 221.5pGeneral government gross debt% of GDP60%42.7 54.7 56.8 59.3 61.6 66.3 67.8 68.0 64.6 61.8 Unemployment rate3 year average10%5.0 4.3 4.1 4.4 4.8 5.3 6.0 6.8 7.2 6.8 Total financial sector liabilities, non-consolidated1 year % change16.5%14.9 3.8 8.2 5.9 9.0 5.0 -1.1 7.7 3.6 5.3pActivity rate - % of total population aged 15-643 year change in pp-0.2 pp1.9 2.4 2.3 -0.3b-1.2b-0.7 1.2b0.9b0.6 0.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.3 -1.0 -0.9 0.0b0.7b1.1 1.3 1.3 1.1 0.0 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-2.0 -3.2 0.2 1.7 1.4 1.5 2.1 2.7 -0.4 -2.4 NetherlandsExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 4.20: The MIP scoreboard for Austria   

111 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%3.1 3.9 3.6 3.3 2.4 2.0 1.7 2.0 2.1 2.2 Net international investment position% of GDP-35%-9.7 -10.0 -5.0 -5.2 -1.9 -3.2 1.3 3.4 2.5 5.6 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.8 -0.1 2.0 -2.1 -1.8 -4.7 0.7 1.9 1.5 1.0 Export market share - % of world exports5 year % change-6%1.6 -4.5 -6.1 -12.5 -12.3 -21.4 -18.1 -15.4 -9.0 -4.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)3.5 6.3 10.2 9.0 5.8 3.8 6.4 7.8 6.2 5.8 House price index (2015=100), deflated 1 year % change6%2.1e-1.1e3.6e4.4be2.9 4.9 3.0 1.4 3.4 7.2 Private sector credit flow, consolidated% of GDP14%7.3 5.4 1.3 0.3 3.0 1.2 1.0 0.9 2.3 3.2 Private sector debt, consolidated% of GDP133%123.9 126.7 131.9 132.3 129.4 128.2 127.1 124.9 123.9 124.0 General government gross debt% of GDP60%64.7 68.4 79.6 82.4 82.2 81.7 81.0 83.8 84.3 83.6 Unemployment rate3 year average10%5.3 4.8 4.8 4.7 4.9 4.8 5.0 5.3 5.6 5.8 Total financial sector liabilities, non-consolidated1 year % change16.5%11.0 10.9 -2.0 -1.9 1.5 0.4 -3.2 -0.8 -0.1 -2.4 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp3.1b2.5 1.9 0.9b0.7 0.8 1.1 0.8 0.4 0.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.2b-0.4 -0.3 -0.1 0.2 0.0 0.1 0.3 0.5 0.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-1.1 -2.5 0.9 0.1 0.4 -1.3 0.2 1.4 1.2 1.5 AustriaExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e = source NCB.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 4.21: The MIP scoreboard for Poland   

112 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-4.3 -5.7 -5.7 -5.3 -4.8 -4.8 -3.4 -2.4 -1.3 -1.0 Net international investment position% of GDP-35%-49.2 -55.6 -57.3 -65.1 -62.4 -65.3 -68.9 -69.1 -62.1 -60.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)16.3 13.9 -4.1 -1.3 -11.5 1.4 -4.3 -1.0 -1.3 -5.0 Export market share - % of world exports5 year % change-6%55.7e51.4e34.4 24.8 15.3 1.9 0.2 5.2 9.6 18.1 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)3.2 10.5 12.3 11.3b4.2 5.3 3.1 2.9 0.3 2.1pHouse price index (2015=100), deflated 1 year % change6%nana-5.4e-6.0e-4.6 -6.6 -4.8 1.2 2.6 2.5 Private sector credit flow, consolidated% of GDP14%12.5 14.2 4.4 4.3 6.7 4.8 3.3 4.6 3.5 4.7 Private sector debt, consolidated% of GDP133%54.4 67.3 67.1 69.7 73.9 73.4 75.4 78.1 78.9 81.6 General government gross debt% of GDP60%44.2 46.3 49.4 53.1 54.1 53.7 55.7 50.2 51.1 54.1 Unemployment rate3 year average10%13.8 10.2 8.3i8.3i9.2i9.8 10.0 9.8 8.9 7.6 Total financial sector liabilities, non-consolidated1 year % change16.5%18.4 6.8 9.0 13.6 4.8 10.7 7.4 0.7 2.4 8.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.8b-0.6 1.3 2.1b1.9 1.8 1.7b2.2 1.6 1.8 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-5.4 -7.9 -5.3 -1.9b1.2 1.6 1.4 0.2 -1.1 -2.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-18.0 -19.7 -9.2i2.1 8.6 5.9 3.6 -1.9 -5.7 -9.6 PolandExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindex:e=NSIestimates.3)Unitlabourcost:2010breakintimeseries.Sincetheindicatorisathreeyear%changethebreakaffectstheseriesuntilthe2012figure.4)Unemploymentrate:i=Eurostatback-calculationtoinclude2011PopulationCensus results. 5) Youth unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 4.22: The MIP scoreboard for Portugal 

113 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-10.1 -10.8 -10.8 -10.9 -8.9 -6.0 -2.1 0.0 0.6 0.3 Net international investment position% of GDP-35%-88.8 -95.1 -107.9 -104.3 -100.7 -116.5 -116.3 -117.5 -112.0 -104.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)0.6 2.1 1.1 -3.1 -3.0 -4.0 -0.6 -1.8 -3.0 -1.9 Export market share - % of world exports5 year % change-6%-3.3 -11.1 -8.1 -6.8 -8.5 -16.3 -7.1 -5.7 2.5 5.8 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.1 4.5 6.6 4.2 -0.6 -6.3 -3.4 -2.7 0.5 0.9pHouse price index (2015=100), deflated 1 year % change6%-1.9e0.9be1.0 -1.0 -6.4 -8.8 -2.7 3.9 2.1 6.1 Private sector credit flow, consolidated% of GDP14%18.2 15.9 5.3 5.3 -0.9 -3.9 -1.6 -5.0 -1.8 -2.2pPrivate sector debt, consolidated% of GDP133%185.0 196.2 204.2 201.5 204.1 210.3 202.4 190.8 179.7 171.4pGeneral government gross debt% of GDP60%68.4 71.7 83.6 96.2 111.4 126.2 129.0 130.6 128.8 130.1 Unemployment rate3 year average10%8.9 8.9 9.5 10.5 11.9 13.6 15.0 15.4 14.4 12.6 Total financial sector liabilities, non-consolidated1 year % change16.5%10.2 4.4 8.9 11.5 -4.5 -3.0 -5.4 -7.5 -1.8 -0.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.2 0.7 -0.2 -0.2 -0.3b0.0 -0.7 -0.4b0.0 0.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.8 -0.1 0.3 1.9 2.6b3.5 3.6 2.2 -0.5 -3.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp1.7 0.8 4.1 6.8 8.6 12.7 9.9 4.5 -6.0 -9.9 PortugalExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e = source NCB.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 4.23: The MIP scoreboard for Romania 

114 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-10.9 -12.0 -10.2 -7.2 -4.9 -4.9 -3.6 -2.2 -1.0 -1.3 Net international investment position% of GDP-35%-46.9 -52.5 -62.0 -63.4 -65.4 -67.4 -62.6 -57.3 -54.6 -49.9 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)36.0 9.4 -4.9 -10.9 -3.2 -2.0 0.4 -1.0 2.7 -2.5 Export market share - % of world exports5 year % change-6%84.2 91.9 69.4 53.5 50.2 12.8 14.2 20.7 20.9 23.6 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)39.3 39.1 37.0 28.8 -0.5 -0.2b-3.2 7.3 0.3 6.0pHouse price index (2015=100), deflated 1 year % change6%nana-27.1e-13.9 -15.8 -9.2 -2.8 -3.2 1.9 6.5 Private sector credit flow, consolidated% of GDP14%20.3 13.1 -1.7 0.9 2.8 0.3 -1.4 -2.4 0.2 0.6pPrivate sector debt, consolidated% of GDP133%57.8 65.5 71.9 73.9 72.9 71.9 66.6 62.1 59.1 55.8pGeneral government gross debt% of GDP60%12.7 13.2 23.2 30.2 34.4 37.3 37.8 39.4 37.9 37.6 Unemployment rate3 year average10%6.9 6.4 6.2 6.4 6.9 7.0 7.0 6.9 6.9 6.5 Total financial sector liabilities, non-consolidated1 year % change16.5%35.3 14.0 16.0 5.0 4.6 4.4 0.8 1.3 4.0 7.6 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.0 0.6 -0.5 1.9b1.2 1.7 0.0b1.6 1.3 0.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.6 -1.6 -1.9 -0.8b0.5 0.8 0.8 -0.1 0.0 -0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-1.2 -1.5 -0.2 2.8 6.3 2.6 1.6 0.1 -0.9 -3.1 Employment indicatorsFlags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)RomaniaExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.24: The MIP scoreboard for Slovenia  

115 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-2.6 -3.8 -3.3 -2.0 -0.2 0.7 2.2 4.1 4.9 5.1 Net international investment position% of GDP-35%-25.5 -39.4 -43.6 -47.2 -45.2 -50.1 -47.2 -45.8 -39.8 -36.9 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.2 2.2 5.2 1.2 -1.1 -4.5 -0.6 1.2 0.4 -0.5 Export market share - % of world exports5 year % change-6%23.6 16.3 9.6 -1.5 -5.7 -20.6 -18.0 -12.5 -4.2 4.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.4 10.6 18.5 16.1 8.3 0.6 0.5 0.0 -0.4 0.7 House price index (2015=100), deflated 1 year % change6%18.7e1.3 -10.2 -1.2 0.9 -8.5 -7.2 -6.5 1.4 3.6 Private sector credit flow, consolidated% of GDP14%21.5 15.5 2.9 1.9 0.4 -2.9 -4.0 -4.7 -5.0 -0.8 Private sector debt, consolidated% of GDP133%96.3 105.6 113.5 115.1 113.0 112.3 107.2 97.4 86.9 80.5 General government gross debt% of GDP60%22.8 21.8 34.6 38.4 46.6 53.8 70.4 80.3 82.6 78.5 Unemployment rate3 year average10%5.8 5.1 5.1 5.9 7.1 8.1 9.1 9.6 9.6 8.9 Total financial sector liabilities, non-consolidated1 year % change16.5%28.6 6.6 7.7 -3.4 -1.2 -0.7 -10.3 -0.2 -3.7 3.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.5 1.1 0.9 0.2 -1.5 -1.4 -1.0 0.6 1.4 1.1 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.1 -1.2 -1.1 1.0 1.7 2.5 2.0 1.7 0.4 -0.9 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-6.0 -5.5 -0.3 4.6 5.3 7.0 6.9 4.5 -4.3 -6.4 SloveniaExternal imbalances and competitivenessInternal imbalancesEmployment indicators1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 4.25: The MIP scoreboard for Slovakia  

116 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-8.7 -7.3 -5.3 -4.9 -4.4 -2.9 -0.7 1.3 0.4 -0.7 Net international investment position% of GDP-35%-56.4 -58.1 -66.5 -61.9 -64.4 -61.4 -62.3 -63.6 -64.6 -62.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)18.0 25.0 27.1 11.0 3.4 -3.2 2.1 1.2 -1.1 -1.6 Export market share - % of world exports5 year % change-6%67.6e31.9e9.5 4.0 -2.6 -9.9 -3.7 2.3 4.5 7.3 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.7 6.0 10.9 9.5 6.1 0.8 2.2 1.8 2.4 3.5 House price index (2015=100), deflated 1 year % change6%25.7 12.9 -12.7 -4.9 -5.2 -6.0 -0.4 1.5 5.5 7.0 Private sector credit flow, consolidated% of GDP14%9.6 10.9 3.0 2.9 3.0 3.4 5.2 5.1 7.7 9.2 Private sector debt, consolidated% of GDP133%60.4 64.9 69.2 67.4 70.2 77.9 82.9 87.8 88.1 94.7 General government gross debt% of GDP60%30.1 28.5 36.3 41.2 43.7 52.2 54.7 53.5 52.3 51.8 Unemployment rate3 year average10%13.7 11.4 11.0 12.1 13.4i14.1i14.0i13.8 13.0 11.5 Total financial sector liabilities, non-consolidated1 year % change16.5%25.7 10.5 -4.7 1.6 0.3 0.7 1.7 8.7 10.8 8.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-1.4 -0.1 -0.2 0.4 -0.1b1.0 1.2 1.6b1.5 2.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-3.5 -5.1 -3.7 0.9 2.6b2.9 0.8 0.1 -1.8 -4.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-12.8 -11.1 0.6 13.3 14.4i6.4 -0.2 -4.0 -7.5 -11.5 SlovakiaExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. e:Estimated. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results. 3) Youth unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 4.26: The MIP scoreboard for Finland   

117 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%3.6 3.3 2.7 1.8 0.5 -0.8 -1.8 -1.6 -1.3 -1.2 Net international investment position% of GDP-35%-27.9 -4.6 3.2 16.5 15.1 11.7 3.9 -3.2 -6.1 -2.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-4.9 -0.3 5.0 -1.3 -2.8 -8.3 0.2 2.7 2.2 0.5 Export market share - % of world exports5 year % change-6%-4.6 -4.3 -12.9 -19.4 -23.6 -31.0 -31.0 -26.1 -21.1 -14.1 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)3.8 7.5 15.2 13.2 9.4 6.0 9.1 7.8 3.9 2.1 House price index (2015=100), deflated 1 year % change6%3.9p-2.4p-0.4p4.8 0.0 -0.4 -1.3 -1.6 -0.3 -0.3 Private sector credit flow, consolidated% of GDP14%13.2 16.7 0.8 7.3 3.6 7.4 2.8 1.5 6.9 2.2 Private sector debt, consolidated% of GDP133%123.6 132.7 142.8 148.9 145.4 148.6 147.7 149.6 152.9 149.3 General government gross debt% of GDP60%34.0 32.7 41.7 47.1 48.5 53.9 56.5 60.2 63.6 63.1 Unemployment rate3 year average10%7.7 7.0 7.2 7.7 8.1 8.0 7.9 8.2 8.8 9.0 Total financial sector liabilities, non-consolidated1 year % change16.5%10.2 16.8 7.8 19.8 28.7 -1.1 -11.7 8.9 1.2 4.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.4 1.3 -0.2 -1.1 -1.1 0.2 0.7 0.5 0.6 0.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.6 -0.9 -0.5 0.5 0.5 0.2 -0.3 0.2 0.7 0.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-4.2 -3.6 2.8 4.9 3.6 -2.5 -1.5 0.4 3.4 0.2 Employment indicatorsFlags:p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)FinlandExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
Table 4.27: The MIP scoreboard for Sweden   

118 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%7.5 8.1 7.3 6.6 5.8 5.7 5.5 5.2 4.9 4.6 Net international investment position% of GDP-35%1.2 -7.9 -7.2 -5.6 -8.0 -14.6 -12.5 1.2 4.6 11.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-4.1 -2.2 -8.5 -3.3 3.2 10.2 5.1 -3.7 -8.2 -9.2 Export market share - % of world exports5 year % change-6%1.4 -6.8 -15.9 -12.7 -12.1 -19.1 -16.9 -9.2 -9.1 -7.9 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)4.9 9.8 15.9 8.3 5.6 4.0 8.6 6.9 2.4 2.0 House price index (2015=100), deflated 1 year % change6%10.9 -2.0 0.8 6.4 0.8 0.7 4.7 8.3 12.1 7.6 Private sector credit flow, consolidated% of GDP14%20.1 18.7 5.9 5.3 6.9 2.4 4.5 4.8 7.5 7.6 Private sector debt, consolidated% of GDP133%167.9 189.1 201.5 189.1 190.8 192.3 194.5 193.9 188.4 188.5 General government gross debt% of GDP60%39.3 37.8 41.4 38.6 37.9 38.1 40.8 45.5 44.2 42.2 Unemployment rate3 year average10%7.0 6.5 6.9 7.7 8.2 8.1 7.9 8.0 7.8 7.4 Total financial sector liabilities, non-consolidated1 year % change16.5%9.5 12.0 3.5 2.7 3.0 5.4 9.0 13.0 2.4 9.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.9 1.1b0.1 0.0 0.6 1.4 2.0 1.6 1.4 1.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.5 -0.3 0.1 0.8 0.7 0.4 -0.2 -0.1 0.0 -0.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-1.2 -2.4 3.5 5.6 2.6 -1.3 -1.2 0.1 -3.3 -4.7 SwedenExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series.1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
Table 4.28: The MIP scoreboard for United Kingdom 

119 

Thresholds2007200820092010201120122013201420152016Current account balance, % of GDP 3 year average-4%/6%-3.0 -3.9 -4.1 -4.1 -3.4 -3.5 -4.1 -5.0 -5.4 -5.5 Net international investment position% of GDP-35%-8.0 9.7 -15.9 -7.9 -11.7 -29.0 -18.5 -22.3 -18.4 -1.1 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.4 -11.5 -19.9 -20.5 -8.0 5.9 3.4 10.1 10.8 0.2 Export market share - % of world exports5 year % change-6%-15.0 -22.6 -20.0 -23.6 -25.7 -20.9 -12.0 -8.9 2.2 -0.1 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)10.0 10.4 11.1 8.9 7.1 3.2 3.4 3.1 2.2 3.1 House price index (2015=100), deflated 1 year % change6%7.8 -8.2 -9.7 4.0 -5.0 -1.7 0.3 6.0 5.3 5.5 Private sector credit flow, consolidated% of GDP14%18.4 12.6 -3.8 -0.6 1.7 1.8 6.9 6.8 3.5 8.2 Private sector debt, consolidated% of GDP133%183.8 190.7 192.0 185.1 179.6 179.6 173.7 166.8 164.7 168.1 General government gross debt% of GDP60%41.9 49.9 64.1 75.6 81.3 84.5 85.6 87.4 88.2 88.3 Unemployment rate3 year average10%5.2 5.4 6.2 7.0 7.8 7.9 7.8 7.2 6.3 5.4 Total financial sector liabilities, non-consolidated1 year % change16.5%16.8 46.9 -17.0 7.3 10.4 -3.6 -7.7 4.7 -8.8 11.6 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.2b0.4b0.0 -0.1b-0.3b0.4 1.0 1.2 0.8 0.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.3 0.4 0.7 1.2 1.3 0.8 0.2 -0.5 -1.1 -1.4 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp2.3 2.2 5.2 5.6 6.3 2.1 0.8 -4.3 -6.6 -7.7 United KingdomExternal imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. 1) For the employment indicators, see page 2 of the AMR 2016.(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Chapter 5: Tables by Member States - Auxiliary indicators used in the economic reading of the MIP scoreboard 

Table 5.1: Auxiliary indicators for Belgium 

120 

Belgium2007200820092010201120122013201420152016Real GDP (1 year % change) 3.4 0.8 -2.3 2.7 1.8 0.2 0.2 1.4 1.4 1.5 Gross fixed capital formation (% of GDP)23.2 24.0 22.6 21.8 22.6 22.6 22.2 23.1 23.2 23.4 Gross domestic expenditure on R&D (% of GDP)1.8 1.9 2.0 2.1 2.2 2.3 2.3 2.4 2.5 2.5pCurrent plus capital account (Net lending-borrowing) (% of GDP)1.6 -1.5 -1.3 1.5 -1.2 0.5 -0.4 -1.1 -0.1 0.2 Net external debt (% of GDP)-45.3 -85.7 -105.2 -121.2 -118.8 -102.7 -88.4 -71.1 -54.5 -26.6 Foreign direct investment in the reporting economy, flows (% of GDP)19.8 38.4 17.0 22.9 30.3 1.3 -5.4 -4.4 -6.5 8.0 Foreign direct investment in the reporting economy, stocks (% of GDP)154.6 192.0 208.2 223.2 236.2 236.2 220.3 228.4 225.5 214.5 Net trade balance of energy products (% of GDP)-3.6 -5.3 -3.2 -3.7 -4.6 -5.0 -4.5 -3.8 -2.7 -2.2 Real effective exchange rate - Euro Area trading partners (3 year % change)0.4 1.2 0.6 1.9 1.3 1.9 0.6 -0.1 0.2 2.1 Export performance against advanced economies (5 year % change)2.4 -0.9 -1.3 -4.2 0.8 -5.4 -6.4 -7.2 -10.6 -5.0 Terms of trade (5 year % change)-2.5 -4.7 -0.8 -1.7 -2.2 -2.5 0.4 -2.4 0.1 2.0 Export market share in volume (1 year % change)-2.2 -1.2 0.6 -2.3 -0.2 -2.5 -2.9 1.5 0.2 5.2 Labour productivity (1 year % change)1.8 -1.0 -2.1 2.1 0.4 -0.2 0.5 0.9 0.5 0.2 Nominal unit labour cost index, 2010=100 (10 year % change)15.1 19.2 21.5 20.2 18.4 20.1 21.2 22.2 20.3 17.6 Unit labour cost performance relative to EA (10 year % change)1.4 1.9 0.2 1.3 0.8 2.5 4.7 5.0 4.0 1.5 House price index (2015=100) - nominal (3 year % change)33.3e23.5 12.0 7.2 6.8 9.7 7.6 2.9 2.3p3.8pResidential construction (% of GDP)6.3 6.5 6.1 6.1 5.8 5.9 5.7 5.9 5.8 5.9 Private sector debt, non-consolidated (% of GDP) 169.5 190.5 202.8 189.8 199.6 205.4 206.0 208.1 214.0 225.5 Financial sector leverage, non-consolidated (% debt-to-equity)194.5 238.3 203.1 190.2 192.1 199.4 192.2 189.6 176.3 192.6 Flags:e:Estimated. p:Provisional.  
 
 
 
 
 
 
 
 
 
 
Table 5.1 (continued): Auxiliary indicators for Belgium 

121 

20072008200920102011201220132014201520161 year % change1.7 1.8 -0.2 0.6 1.4 0.4 -0.3 0.4 0.9 1.3 %67.1 67.1 66.9 67.7 66.7 66.9 67.5 67.7 67.6 67.6 %3.8 3.3 3.5 4.0 3.5 3.4 3.9 4.3 4.4 4.0 %18.8 18.0 21.9 22.4 18.7 19.8 23.7 23.2 22.1 20.1 %11.2 10.1 11.1 10.9 11.8b12.3 12.7 12.0 12.2 9.9 3 year change in pp-4.2 -2.9 -0.1 -0.3 1.7b1.2 1.8 0.2 -0.1 -2.8 %21.6 20.8 20.2 20.8 21.0 21.6 20.8 21.2 21.1 20.7 3 year change in pp0.0 -1.8 -1.3 -0.8 0.2 1.4 0.0 0.2 -0.5 -0.1 %15.2 14.7 14.6 14.6 15.3 15.3 15.1 15.5 14.9 15.5 3 year change in pp0.9 -0.1 -0.1 -0.6 0.6 0.7 0.5 0.2 -0.4 0.4 %5.7 5.6 5.2 5.9 5.7 6.3 5.1 5.9 5.8 5.5 3 year change in pp1.0 -0.9 -1.2 0.2 0.1 1.1 -0.8 0.2 -0.5 0.4 %13.8 11.7 12.3 12.7 13.8 13.9 14.0 14.6 14.9 14.6 3 year change in pp-0.9 -3.4 -2.0 -1.1 2.1 1.6 1.3 0.8 1.0 0.6 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatBelgiumEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
Table 5.2: Auxiliary indicators for Bulgaria 

122 

Bulgaria2007200820092010201120122013201420152016Real GDP (1 year % change) 7.3 6.0 -3.6 1.3 1.9 0.0 0.9 1.3 3.6 3.9 Gross fixed capital formation (% of GDP)28.3 33.0 27.9 22.2 20.9 21.3 21.1 21.1 21.0 18.6 Gross domestic expenditure on R&D (% of GDP)0.4 0.5 0.5 0.6 0.5 0.6 0.6 0.8 1.0 0.8pCurrent plus capital account (Net lending-borrowing) (% of GDP)-25.7 -21.2 -7.0 -0.9 1.5 0.4 2.4 2.3 3.1 7.5 Net external debt (% of GDP)nanana37.1 29.6 25.4 21.6 18.3 1.5 -9.5 Foreign direct investment in the reporting economy, flows (% of GDP)28.0 17.9 7.5 3.6 3.7 3.3 3.6 3.6 5.4 2.2 Foreign direct investment in the reporting economy, stocks (% of GDP)nanana90.3 87.8 90.1 89.3 96.2 91.8 88.3 Net trade balance of energy products (% of GDP)-7.3 -8.0 -5.0 -5.7 -6.3 -6.9 -6.2 -5.6 -3.8 -2.4 Real effective exchange rate - Euro Area trading partners (3 year % change)14.4 19.5 15.9 11.6 3.8 1.8 -0.4 -2.9 -3.9 -4.6 Export performance against advanced economies (5 year % change)59.9 50.9 29.2 16.8 21.3 10.9 7.5 13.0 13.9 5.1 Terms of trade (5 year % change)15.4 13.0 12.0 14.0 11.5 5.9 4.2 3.0 3.5 3.0 Export market share in volume (1 year % change)11.7 -0.4 -1.7 -1.6 5.7 -0.8 5.8 -0.6 2.6 5.8 Labour productivity (1 year % change)4.0 3.6 -1.9 5.4 4.2 2.6p1.3p1.0p3.3p3.4pNominal unit labour cost index, 2010=100 (10 year % change)123.5 65.7 68.1 71.5 62.0 69.7p78.8p82.7p78.4p77.5pUnit labour cost performance relative to EA (10 year % change)92.1 38.2 34.4 39.6 33.7 41.5 52.0 55.7 54.3 52.1 House price index (2015=100) - nominal (3 year % change)102.0e84.8p28.2p-10.6p-32.4p-16.7p-9.3p-2.7p2.0bp11.6pResidential construction (% of GDP)5.0 5.8 4.7 2.7 2.2 1.7 1.7 1.6 1.4 2.7 Private sector debt, non-consolidated (% of GDP) 125.0 136.8 143.9 142.3 133.5 134.8 142.5 136.8 121.5 117.0 Financial sector leverage, non-consolidated (% debt-to-equity)215.0 431.9 385.9 439.5 413.0 438.4 450.2 429.7 506.7 475.6 Flags:b:Break in series. p:Provisional. 1) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.2 (continued): Auxiliary indicators for Bulgaria 

123 

20072008200920102011201220132014201520161 year % change3.2 2.4 -1.7 -3.9 -2.2 -2.5p-0.4p0.4p0.4p0.5p%66.3 67.8 67.2 66.7b65.9b67.1 68.4 69.0 69.3 68.7 %4.1 2.9 3.0 4.7b6.3b6.8 7.4 6.9 5.6 4.5 %14.1 11.9 15.1 21.9i25.0 28.1 28.4 23.8 21.6 17.2 %19.1 17.4b19.5 21.0b21.8 21.5 21.6 20.2 19.3 18.2 3 year change in pp-7.3 -7.7b-2.7 1.9b4.4 2.0 0.6 -1.6 -2.2 -3.4 %60.7 44.8b46.2 49.2 49.1 49.3 48.0 40.1b41.3 40.4b3 year change in ppnana-15.1 -11.5 4.3b3.1 -1.2 -9.0b-8.0 -7.6b%22.0 21.4 21.8 20.7 22.2 21.2 21.0 21.8 22.0 22.9b3 year change in pp6.0 7.4 3.4 -1.3 0.8 -0.6 0.3 -0.4 0.8 1.9b%57.6 41.2 41.9 45.7 43.6 44.1 43.0 33.1 34.2 31.9b3 year change in ppnana-15.8 -11.9 2.4 2.2 -2.7 -10.5 -9.9 -11.1b%16.0 8.1b6.9 8.0 11.0 12.5 13.0 12.1 11.6 11.9b3 year change in ppnana-7.8 -8.0 2.9b5.6 5.0 1.1 -0.9 -1.1bPeople at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. p:Provisional. 1) Youth unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatBulgariaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.3: Auxiliary indicators for Czech Republic   

124 

Czech Republic2007200820092010201120122013201420152016Real GDP (1 year % change) 5.6 2.7 -4.8 2.3 1.8 -0.8 -0.5 2.7 5.3 2.6 Gross fixed capital formation (% of GDP)29.5 29.0 27.1 26.9 26.5 25.9 25.1 25.1 26.5 25.0 Gross domestic expenditure on R&D (% of GDP)1.3 1.2 1.3 1.3 1.6 1.8 1.9 2.0 1.9 1.7pCurrent plus capital account (Net lending-borrowing) (% of GDP)-4.0 -1.2 -1.0 -2.6 -1.8 -0.3 1.5 0.9 2.5 2.2 Net external debt (% of GDP)-7.4 -4.7 -2.4 -1.3 -0.2 -1.1 -5.1 -4.5 -8.2 -13.5 Foreign direct investment in the reporting economy, flows (% of GDP)7.0 3.7 2.5 4.9 1.9 4.5 3.5 3.9 0.9 3.3 Foreign direct investment in the reporting economy, stocks (% of GDP)58.1 60.3 66.2 70.1 69.6 74.7 77.4 77.3 75.8 75.0 Net trade balance of energy products (% of GDP)-3.2 -4.1 -2.7 -3.5 -4.4 -4.7 -4.8 -4.0 -2.4 -2.1 Real effective exchange rate - Euro Area trading partners (3 year % change)14.4 22.8 10.5 12.5 0.8 5.5 -2.4 -10.1 -8.0 -3.6 Export performance against advanced economies (5 year % change)73.9 70.3 37.9 20.9 17.3 7.0 -2.8 0.6 -0.4 -0.0 Terms of trade (5 year % change)-2.0 -3.3 -2.4 -2.1 -1.7 -3.3 -0.9 -1.4 0.9 3.6 Export market share in volume (1 year % change)3.1 1.3 0.2 2.1 2.3 1.5 -3.6 5.0 2.9 2.2 Labour productivity (1 year % change)3.4 0.5 -3.1 3.3 2.1 -1.2 -0.8 2.2 3.8 1.3 Nominal unit labour cost index, 2010=100 (10 year % change)36.2 31.9 32.1 29.4 24.0 19.7 16.7 14.1 13.9 17.0 Unit labour cost performance relative to EA (10 year % change)21.8 14.8 10.7 10.9 6.9 2.7 0.6 -2.3 -2.1 -0.9 House price index (2015=100) - nominal (3 year % change)30.5e45.0e29.5e6.6e-5.5 -3.1 -1.4 0.9 6.5p14.2pResidential construction (% of GDP)4.1 4.0 3.8 4.0 3.7 3.7 3.2 3.4 3.6 3.7 Private sector debt, non-consolidated (% of GDP) 61.8 67.6 70.6 72.5 74.3 77.0 84.3 80.6 77.9 77.5 Financial sector leverage, non-consolidated (% debt-to-equity)648.5 759.0 642.9 567.4 624.5 540.6 532.0 498.7 507.8 530.0 Flags:p:Provisional. 1) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.3 (continued): Auxiliary indicators for Czech Republic 

125 

20072008200920102011201220132014201520161 year % change2.1 2.2 -1.8 -1.0 -0.3 0.4 0.3 0.6 1.4 1.3 %69.9 69.7 70.1 70.2 70.5b71.6 72.9 73.5 74.0 75.0 %2.8 2.2 2.0 3.0 2.7b3.0 3.0 2.7 2.4 1.7 %10.7 9.9 16.6 18.3 18.1 19.5 18.9 15.9 12.6 10.5 %6.9 6.7 8.5 8.8 8.3b8.9 9.1b8.1 7.5 7.0 3 year change in pp-6.8 -6.6 -0.7 1.9 1.6b0.4 0.3b-0.2 -1.4 -2.1 %15.8 15.3 14.0 14.4 15.3 15.4 14.6 14.8 14.0 13.3 3 year change in ppna-4.3 -4.0 -1.4 0.0 1.4 0.2 -0.5 -1.4 -1.3 %9.6 9.0 8.6 9.0 9.8 9.6 8.6 9.7 9.7 9.7 3 year change in pp1.6 -1.4 -1.3 -0.6 0.8 1.0 -0.4 -0.1 0.1 1.1 %7.4 6.8 6.1 6.2 6.1 6.6 6.6 6.7 5.6 4.8 3 year change in ppna-5.0 -3.5 -1.2 -0.7 0.5 0.4 0.6 -1.0 -1.8 %8.6 7.2 6.0 6.4 6.6 6.8 6.9 7.6 6.8 6.7 3 year change in ppna-1.7 -2.9 -2.2 -0.6 0.8 0.5 1.0 0.0 -0.2 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatCzech RepublicEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.4: Auxiliary indicators for Denmark   

126 

Denmark2007200820092010201120122013201420152016Real GDP (1 year % change) 0.9 -0.5 -4.9 1.9 1.3 0.2 0.9 1.7 1.6 1.7 Gross fixed capital formation (% of GDP)23.5 22.9 20.2 18.1 18.2 18.8 19.1 19.2 19.2 20.1 Gross domestic expenditure on R&D (% of GDP)2.5b2.8 3.1 2.9 2.9 3.0 3.0 2.9 3.0p2.9eCurrent plus capital account (Net lending-borrowing) (% of GDP)1.5 2.9 3.4 6.6 6.9 6.3 7.7 8.7 8.5 7.3 Net external debt (% of GDP)32.3 29.8 28.6 21.9 14.3 10.9 8.2 0.3 -0.6 -7.3 Foreign direct investment in the reporting economy, flows (% of GDP)3.7 0.5 1.2 -3.6 3.8 -4.9 0.2 2.0 0.4 2.1 Foreign direct investment in the reporting economy, stocks (% of GDP)47.1 44.6 46.8 43.5 43.9 43.6 41.8 49.9 48.7 52.5 Net trade balance of energy products (% of GDP)1.8 1.6 1.0 0.9 0.7 0.8 0.3 0.0 0.0 0.0 Real effective exchange rate - Euro Area trading partners (3 year % change)-1.3 -0.6 0.4 1.7 1.5 0.7 -1.3 -1.4 -1.3 -0.2 Export performance against advanced economies (5 year % change)3.2 6.8 7.2 -3.3 -5.9 -7.9 -11.5 -9.8 -6.8 -6.9 Terms of trade (5 year % change)2.3 3.3 2.7 3.3 2.0 3.1 2.4 2.9 0.6 2.6 Export market share in volume (1 year % change)-4.2 1.0 0.8 -9.7 0.3 -1.6 -2.2 -0.1 -1.3 0.2 Labour productivity (1 year % change)-1.4 -1.7 -1.8 4.3 1.4 1.0 1.0 0.7 0.3 0.0 Nominal unit labour cost index, 2010=100 (10 year % change)27.0 30.1 33.7 32.2 26.9 23.9 21.9 23.0 21.5 20.9 Unit labour cost performance relative to EA (10 year % change)12.3 11.3 10.4 11.6 8.1 5.2 4.2 4.8 4.3 4.4 House price index (2015=100) - nominal (3 year % change)49.8e20.8 -14.3 -14.2 -11.0 -1.7 -0.6 4.9 15.3 16.2 Residential construction (% of GDP)6.5 5.4 4.2 3.7 4.3 4.1 3.7 3.9 4.0 4.4 Private sector debt, non-consolidated (% of GDP) 220.6 231.4 240.7 232.7 232.6 233.8 227.3 222.7 219.5 221.3 Financial sector leverage, non-consolidated (% debt-to-equity)204.7 316.4 248.9 217.5 209.5 208.5 190.0 170.1 154.5 158.9 Flags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
Table 5.4 (continued): Auxiliary indicators for Denmark 

127 

20072008200920102011201220132014201520161 year % change2.3 1.2 -3.2 -2.3 0.0 -0.7 0.0 1.0 1.3 1.7 %80.1 80.7 80.2 79.4 79.3 78.6 78.1 78.1 78.5 80.0b%0.6 0.5 0.6 1.5 1.8 2.1 1.8 1.7 1.7 1.4b%7.5 8.0 11.8 13.9 14.2 14.1 13.0 12.6 10.8 12.0 %4.3b4.3 5.4 6.0 6.3 6.6 6.0 5.8 6.2 5.8b3 year change in pp-0.8b0.0 1.8 1.7 2.0 1.2 0.0 -0.5 -0.4 -0.2b%16.8 16.3 17.6 18.3 17.6b17.5 18.3 17.9 17.7 16.7 3 year change in pp0.3 -0.9 0.9 1.5 1.3b-0.1 0.0 0.3b0.2 -1.6 %11.7 11.8 13.1 13.3 12.1 12.0 11.9 12.1 12.2 11.9 3 year change in pp0.8 0.0 1.4 1.6 0.3 -1.1 -1.4 0.0 0.2 0.0 %3.3 2.0 2.3 2.7 2.3 2.7 3.6 3.2 3.7 2.6 3 year change in pp0.4 -1.2 -0.8 -0.6 0.3 0.4 0.9 0.9 1.0 -1.0 %10.1 8.5 8.8 10.6 10.5 10.2 11.9 12.2 11.6 10.6 3 year change in pp0.8 -1.6 -0.8 0.5 2.0 1.4 1.3 1.7 1.4 -1.3 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatDenmarkEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.5: Auxiliary indicators for Germany   

128 

Germany2007200820092010201120122013201420152016Real GDP (1 year % change) 3.3 1.1 -5.6 4.1 3.7 0.5 0.5 1.9 1.7 1.9 Gross fixed capital formation (% of GDP)20.1 20.3 19.2 19.4 20.3 20.1 19.7 20.0 19.9 20.0 Gross domestic expenditure on R&D (% of GDP)2.5 2.6 2.7 2.7 2.8 2.9 2.8 2.9 2.9 2.9eCurrent plus capital account (Net lending-borrowing) (% of GDP)6.7 5.6 5.7 5.7 6.1 7.0 6.7 7.5 8.5 8.4 Net external debt (% of GDP)3.8 5.9 1.0 3.4 6.7 3.0 -3.9 -6.6 -11.3 -14.6 Foreign direct investment in the reporting economy, flows (% of GDP)1.5 0.8 1.6 2.5 2.6 1.8 1.8 0.4 1.6 1.5 Foreign direct investment in the reporting economy, stocks (% of GDP)33.7 31.9 34.2 35.1 35.8 39.8 41.0 41.2 41.3 41.7 Net trade balance of energy products (% of GDP)-2.4 -3.4 -2.5 -2.9 -3.5 -3.6 -3.4 -2.8 -2.0 -1.5 Real effective exchange rate - Euro Area trading partners (3 year % change)-0.7 -1.3 -1.1 -1.5 -1.0 -1.3 -0.8 -0.1 0.5 0.4 Export performance against advanced economies (5 year % change)12.1 6.3 1.2 -0.2 -0.8 -6.6 -5.7 -2.4 -1.1 -0.1 Terms of trade (5 year % change)-1.9 -4.6 -0.4 -1.0 -2.1 -2.5 0.3 -2.8 2.1 6.6 Export market share in volume (1 year % change)1.4 -1.0 -4.3 1.9 1.4 0.0 -2.1 0.9 2.1 0.3 Labour productivity (1 year % change)1.5 -0.2 -5.7 3.8 2.3 -0.7 -0.1 1.1 0.8 0.6 Nominal unit labour cost index, 2010=100 (10 year % change)-0.1 2.1 7.6 5.7 6.5 9.0 9.9 12.4 15.0 19.0 Unit labour cost performance relative to EA (10 year % change)-17.5 -18.8 -16.5 -16.2 -14.0 -11.1 -8.9 -5.6 -1.3 3.2 House price index (2015=100) - nominal (3 year % change)-1.4e-1.2 0.0 3.3 5.5 8.2 10.4 10.0 11.4 14.5 Residential construction (% of GDP)5.1 5.0 5.1 5.2 5.6 5.8 5.8 5.9 5.7 5.9 Private sector debt, non-consolidated (% of GDP) 117.1 116.3 120.0 114.2 109.5 109.5 110.4 106.7 105.7 105.9 Financial sector leverage, non-consolidated (% debt-to-equity)515.8 758.1 602.7 563.2 601.7 522.1 422.9 397.6 368.7 367.2 Flags:e:Estimated. 1) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
Table 5.5 (continued): Auxiliary indicators for Germany 

129 

20072008200920102011201220132014201520161 year % change1.7 1.3 0.1 0.3 1.4 1.2 0.6 0.8 0.9 1.3 %75.6 75.9 76.3 76.7b77.3b77.2 77.6 77.7 77.6 77.9 %4.9 3.9 3.5 3.3b2.8b2.4 2.3 2.2 2.0 1.7 %11.8 10.4 11.1 9.8 8.5 8.0 7.8 7.7 7.2 7.1 %8.9 8.4b8.8 8.3b7.5b7.1 6.3 6.4 6.2 6.7 3 year change in pp-1.2 -2.5b-0.8 -0.6b-0.9b-1.7 -2.0 -1.1 -0.9 0.4 %20.6 20.1 20.0 19.7 19.9 19.6 20.3 20.6 20.0 19.7 3 year change in ppna1.7 -0.2 -0.9 -0.2 -0.4 0.6 0.7 0.4 -0.6 %15.2 15.2 15.5 15.6 15.8 16.1 16.1 16.7 16.7 16.5 3 year change in pp4.2 3.0 3.0 0.4 0.6 0.6 0.5 0.9 0.6 0.4 %4.8 5.5 5.4 4.5 5.3 4.9 5.4 5.0 4.4 3.7 3 year change in ppna0.9 0.3 -0.3 -0.2 -0.5 0.9 -0.3 -0.5 -1.7 %11.5 11.7 10.9 11.2 11.2 9.9 9.9 10.0 9.8 9.6 3 year change in ppna-0.3 -2.7 -0.3 -0.5 -1.0 -1.3 -1.2 -0.1 -0.3 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series.  (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatGermanyEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.6: Auxiliary indicators for Estonia 

130 

Estonia2007200820092010201120122013201420152016Real GDP (1 year % change) 7.7 -5.4 -14.7 2.3 7.6 4.3 1.9 2.9 1.7 2.1 Gross fixed capital formation (% of GDP)36.6 31.2 22.7 21.2 26.2 28.6 27.7 24.4 23.6 22.3 Gross domestic expenditure on R&D (% of GDP)1.1 1.3 1.4 1.6 2.3 2.1 1.7 1.5 1.5 naCurrent plus capital account (Net lending-borrowing) (% of GDP)-13.8 -7.5 6.0 5.3 5.4 1.4 3.1 1.3 4.0 3.0 Net external debt (% of GDP)48.5 54.3 53.4 35.8 6.0 -1.1 -4.9 -10.6 -10.5 -11.7 Foreign direct investment in the reporting economy, flows (% of GDP)13.5 8.0 9.1 13.2 4.9 7.8 4.4 6.6 -3.2 3.2 Foreign direct investment in the reporting economy, stocks (% of GDP)75.0 77.1 89.1 95.0 89.9 94.2 98.8 104.9 98.9 99.8 Net trade balance of energy products (% of GDP)-3.6 -4.1 -2.3 -1.5 -0.4 -1.3 -2.2 -2.1 -1.5 -1.0 Real effective exchange rate - Euro Area trading partners (3 year % change)8.5 12.1 8.9 6.4 2.8 5.2 5.4 3.1 1.6 0.4 Export performance against advanced economies (5 year % change)69.0 52.4 26.1 18.3 35.7 19.6 18.2 28.5 9.5 -3.5 Terms of trade (5 year % change)9.0 7.4 7.0 3.0 1.0 -1.4 -0.8 -0.1 2.5 3.0 Export market share in volume (1 year % change)4.7 -2.0 -10.3 11.4 17.3 2.0 -1.0 -1.2 -3.8 1.8 Labour productivity (1 year % change)7.5 -5.2 -5.0 7.6 1.0 2.6 0.7 2.1 -1.2 1.8 Nominal unit labour cost index, 2010=100 (10 year % change)80.9 97.0 92.6 80.6 73.2 74.6 72.1 70.6 72.6 64.4 Unit labour cost performance relative to EA (10 year % change)54.2 60.5 53.3 47.6 42.7 40.7 39.5 35.0 41.7 38.6 House price index (2015=100) - nominal (3 year % change)na63.2 -31.5 -40.0 -28.0 23.0 28.8 35.0 34.5 27.3 Residential construction (% of GDP)6.1 4.3 3.1 2.7 2.7 2.9 3.4 3.9 4.4 4.8 Private sector debt, non-consolidated (% of GDP) 152.4 161.6 167.2 152.5 132.6 129.2 127.1 130.0 127.4 126.6 Financial sector leverage, non-consolidated (% debt-to-equity)397.5 433.4 463.7 397.9 398.6 369.5 299.8 313.4 376.7 359.1 (cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.6 (continued): Auxiliary indicators for Estonia 

131 

20072008200920102011201220132014201520161 year % change0.2 -0.2 -10.2 -4.9 6.5 1.6 1.2 0.8 2.9 0.3 %73.2 74.2 74.0 73.9 74.7 74.8 75.1 75.2 76.7 77.5 %2.3 1.7 3.7 7.6 7.1 5.5 3.8 3.3 2.4 2.1 %10.1 12.0i27.4 32.9 22.4 20.9 18.7 15.0 13.1 13.4 %8.9 8.7 14.5b14.0 11.6 12.2 11.3 11.7 10.8 9.1 3 year change in pp-3.6 -1.9 5.7b5.1 2.9 -2.3 -2.7 0.1 -1.4 -2.2 %22.0 21.8 23.4 21.7 23.1 23.4 23.5 26.0b24.2 24.4 3 year change in pp-4.3 -4.1 1.4 -0.3 1.3 0.0 1.8 2.9b0.8 0.9 %19.4 19.5 19.7 15.8 17.5 17.5 18.6 21.8 21.6 21.7 3 year change in pp-0.8 1.2 1.4 -3.6 -2.0 -2.2 2.8 4.3 4.1 3.1 %5.6 4.9 6.2 9.0 8.7 9.4 7.6 6.2 4.5 4.7 3 year change in pp-3.8 -7.5 -0.8 3.4 3.8 3.2 -1.4 -2.5 -4.9 -2.9 %6.2 5.3 5.6 9.0 10.0 9.1 8.4 7.6b6.6 5.8 3 year change in pp-3.5 -4.2 -1.5 2.8 4.7 3.5 -0.6 -2.4b-2.5 -2.6 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. 1) Youth unemployment rate:  i = Eurostat back-calculation to include 2011 Population Census results. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatEstoniaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.7: Auxiliary indicators for Ireland 

132 

Ireland2007200820092010201120122013201420152016Real GDP (1 year % change) 5.2 -3.9 -4.6 1.8 3.0 0.0 1.6 8.3 25.6 5.1 Gross fixed capital formation (% of GDP)28.7 24.8 21.1 17.6 16.8 19.7 18.6 20.8 20.3 31.8 Gross domestic expenditure on R&D (% of GDP)1.2 1.4 1.6e1.6e1.6e1.6e1.6e1.5e1.2 1.2eCurrent plus capital account (Net lending-borrowing) (% of GDP)-6.4 -6.8 -5.6 -1.9 -2.2 -2.6 1.6 -1.8 10.4 2.3 Net external debt (% of GDP)-203.9 -153.2 -202.4 -277.6 -311.3 -348.8 -352.9 -415.7 -299.8 -368.6 Foreign direct investment in the reporting economy, flows (% of GDP)22.9 7.9 22.8 16.8 15.2 24.9 27.8 36.5 81.7 25.8 Foreign direct investment in the reporting economy, stocks (% of GDP)192.1 209.0 267.4 294.3 304.3 337.3 344.1 385.2 499.0 503.3 Net trade balance of energy products (% of GDP)-2.4 -3.1 -2.3 -2.8 -3.3 -3.0 -3.2 -2.7 -1.5 -1.1 Real effective exchange rate - Euro Area trading partners (3 year % change)1.4 1.1 -1.6 -5.3 -6.6 -5.1 -3.1 -1.8 -1.3 -0.9 Export performance against advanced economies (5 year % change)-3.4 -7.3 10.5 1.4 -2.0 -6.2 -1.1 -6.1 43.0 55.3 Terms of trade (5 year % change)-5.2 -3.2 0.8 -4.0 -1.2 -3.2 -4.3 -4.9 2.6 0.4 Export market share in volume (1 year % change)1.0 -6.7 14.6 -6.8 -3.7 -1.2 -0.8 10.7 35.3 2.3 Labour productivity (1 year % change)0.8 -3.3 3.5 6.1 3.6b0.6 -0.9 6.5 22.5 2.3 Nominal unit labour cost index, 2010=100 (10 year % change)na43.3 35.5 19.7 10.8b9.9 5.6 -1.0 -20.7 -23.6 Unit labour cost performance relative to EA (10 year % change)24.1 24.2 13.4 2.1 -2.0 -1.8 -2.7 -9.2 -27.1 -28.8 House price index (2015=100) - nominal (3 year % change)35.4e14.9 -19.1 -34.9p-42.0p-37.9p-27.3p2.1p31.5p39.6pResidential construction (% of GDP)11.1 8.2 4.7 3.0 2.3 1.8 2.0 2.3 1.9 2.1 Private sector debt, non-consolidated (% of GDP) 200.9 254.8 281.1 281.8 297.1 306.9 290.7 304.1 328.3 300.2 Financial sector leverage, non-consolidated (% debt-to-equity)190.1 276.7 231.9 182.9 150.1 121.0 99.1 84.0 78.9 72.3 Flags:b:Break in series. e:Estimated. p:Provisional. 1)Housepriceindex:e=NSIestimates.2)2015PSD:significantincreasesduetore-domicilingoflargemultinationalcorporationsandmovementoflargepartsoftheirbalancesheets.3)2016PSD:thedeclineforIErelativeto2015predominantlyreflectsrestructuringandre-domicilingactivities of large multinational companies.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.7 (continued): Auxiliary indicators for Ireland 

133 

20072008200920102011201220132014201520161 year % change4.4 -0.6 -7.8 -4.1 -0.5b-0.6 2.5 1.7 2.5 2.8 %72.6b72.1 70.6b69.4 69.2 69.2 69.8 69.8 70.0 70.5 %1.4b1.7 3.5b6.8 8.6 9.0 7.8 6.6 5.3 4.2 %9.1 13.3 24.0 27.6 29.1 30.4 26.8 23.9 20.9 17.2 %10.8b15.0 18.6b19.2 18.8 18.7 16.1 15.2 14.3 13.0 3 year change in pp-1.1b4.1 8.5b8.4 3.8 0.1 -3.1 -3.6 -4.4 -3.1 %23.1 23.7 25.7 27.3 29.4 30.3 29.9 27.7 26.0 na3 year change in pp-1.7 -1.3 2.4 4.2 5.7 4.6 2.6 -1.7 -4.3 na%17.2 15.5 15.0 15.2 15.2 16.6 15.7 16.4 16.3 na3 year change in pp-3.7 -4.2 -3.5 -2.0 -0.3 1.6 0.5 1.2 -0.3 na%4.5 5.5 6.1 5.7 7.8 9.8 9.9 8.4 7.5 7.5e3 year change in pp-0.3 0.4 1.3 1.2 2.3 3.7 4.2 0.6 -2.3 -2.4e%14.3 13.7 20.0 22.9 24.2 23.4 23.9 21.0 19.2 na3 year change in pp1.4 -1.0 7.1 8.6 10.5 3.4 1.0 -3.2 -4.2 naPeople at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. e:Estimated. 1) Official transmission deadline for 2016 data on People at risk of poverty and social exclusion is 30 November 2017 while data were extracted on 24 October 2017(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatIrelandEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.8: Auxiliary indicators for Greece 

134 

Greece2007200820092010201120122013201420152016Real GDP (1 year % change) 3.3 -0.3 -4.3 -5.5 -9.1p-7.3p-3.2p0.7p-0.3p-0.2pGross fixed capital formation (% of GDP)26.0 23.8 20.8 17.6 15.3p12.6p12.2p11.5p11.5p11.7pGross domestic expenditure on R&D (% of GDP)0.6e0.7be0.6e0.6e0.7 0.7 0.8 0.8 1.0 1.0pCurrent plus capital account (Net lending-borrowing) (% of GDP)-13.3 -13.4 -11.5 -10.5 -8.7 -2.6 -0.4 -0.2 0.9 -0.5 Net external debt (% of GDP)66.1 73.2 84.2 100.8 98.8 123.6 132.7 132.6 137.8 137.5 Foreign direct investment in the reporting economy, flows (% of GDP)0.7 1.4 0.8 0.2 0.4 0.7 1.2 1.1 0.7 1.6 Foreign direct investment in the reporting economy, stocks (% of GDP)16.1 12.0 13.8 13.8 12.2 11.5 12.0 11.8 14.8 16.0 Net trade balance of energy products (% of GDP)-2.9 -3.8 -2.2 -3.0 -3.6p-4.0p-3.7p-3.4p-2.1p-1.7pReal effective exchange rate - Euro Area trading partners (3 year % change)3.3 2.8 2.5 5.0 4.5 2.0 -3.5 -5.6 -5.2 -3.2 Export performance against advanced economies (5 year % change)20.0 16.7 -2.8 -7.2 -8.1 -16.3 -20.0 -12.6 -19.6 -21.2 Terms of trade (5 year % change)1.1 -1.7 -2.3 -1.0 -1.5p-3.5p-0.8p1.5p6.0p6.1pExport market share in volume (1 year % change)2.7 0.6 -8.5 -7.7 -6.9p-1.6p-2.3p4.0p0.0p-4.1pLabour productivity (1 year % change)1.9 -1.6 -3.8 -3.0 -2.4p-1.1p-0.6p-0.2p-1.0p-0.7pNominal unit labour cost index, 2010=100 (10 year % change)44.5 43.0 48.2 47.5 42.9p28.3p15.9p11.8p1.4p1.9pUnit labour cost performance relative to EA (10 year % change)26.5 20.9 20.8 22.6 20.0 7.9 -1.1 -5.0 -13.8 -11.5 House price index (2015=100) - nominal (3 year % change)33.0e22.0e3.7e-6.7e-13.2e-20.4e-25.5e-27.1e-21.6e-14.2eResidential construction (% of GDP)10.8 8.1 6.5 5.0 4.6p3.1p2.2p1.0p0.7p0.6pPrivate sector debt, non-consolidated (% of GDP) 101.8 113.4 116.8 128.1 130.2p131.5p129.2p128.0p126.1p124.7pFinancial sector leverage, non-consolidated (% debt-to-equity)308.2 1196.7 954.9 1683.0 3047.9 1007.2 849.4 1001.9 1343.4 1354.2 Flags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: e = source NCB.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.8 (continued): Auxiliary indicators for Greece 

135 

20072008200920102011201220132014201520161 year % change1.3 1.3 -0.6 -2.6 -6.9p-6.3p-2.6p0.9p0.7p0.5p%66.5 66.7 67.4b67.8 67.3 67.5 67.5 67.4 67.8 68.2 %4.2 3.7 3.9b5.7 8.8 14.5 18.5 19.5 18.2 17.0 %22.7 21.9 25.7 33.0 44.7 55.3 58.3 52.4 49.8 47.3 %11.3 11.4b12.4b14.8 17.4 20.2 20.4 19.1 17.2 15.8 3 year change in pp-5.3 -4.5b0.4b3.5 6.0 7.8 5.6 1.7 -3.0 -4.6 %28.3 28.1 27.6 27.7 31.0 34.6 35.7 36.0 35.7 35.6 3 year change in pp-2.6 -1.3 -1.7 -0.6 2.9 7.0 8.0 5.0 1.1 -0.1 %20.3 20.1 19.7 20.1 21.4 23.1 23.1 22.1 21.4 21.2 3 year change in pp0.4 0.5 -0.8 -0.2 1.3 3.4 3.0 0.7 -1.7 -1.9 %11.5 11.2 11.0 11.6 15.2 19.5 20.3 21.5 22.2 22.4 3 year change in pp-2.6 -1.6 -0.5 0.1 4.0 8.5 8.7 6.3 2.7 2.1 %8.1 7.5 6.6 7.6 12.0 14.2 18.2 17.2 16.8 17.2 3 year change in pp0.6 -0.1 -1.5 -0.5 4.5 7.6 10.6 5.2 2.6 -1.0 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatGreeceEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.9: Auxiliary indicators for Spain 

136 

Spain2007200820092010201120122013201420152016Real GDP (1 year % change) 3.8 1.1 -3.6 0.0 -1.0 -2.9 -1.7 1.4 3.4p3.3pGross fixed capital formation (% of GDP)31.0 29.2 24.3 23.0 21.5 19.8 18.8 19.3 19.8p20.0pGross domestic expenditure on R&D (% of GDP)1.2 1.3 1.4 1.4 1.3 1.3 1.3 1.2 1.2 naCurrent plus capital account (Net lending-borrowing) (% of GDP)-9.3 -8.8 -4.0 -3.5 -2.8 0.3 2.2 1.6 1.8 2.2 Net external debt (% of GDP)71.5 78.1 89.2 93.2 97.0 95.7 94.7 97.7 94.0 88.8 Foreign direct investment in the reporting economy, flows (% of GDP)4.8 4.8 0.9 2.8 2.2 1.8 3.8 2.4 2.9 2.6 Foreign direct investment in the reporting economy, stocks (% of GDP)44.7 45.1 49.0 50.5 51.6 53.3 56.4 59.4 59.1 59.7 Net trade balance of energy products (% of GDP)-3.0 -3.6 -2.3 -2.9 -3.7 -3.8 -3.4 -2.9 -2.0p-1.5pReal effective exchange rate - Euro Area trading partners (3 year % change)3.5 3.1 1.1 0.9 0.4 0.8 0.4 -0.6 -1.3 -2.2 Export performance against advanced economies (5 year % change)4.5 -4.6 -1.3 -4.4 -0.2 -8.4 -4.4 -6.0 -2.4 -0.7 Terms of trade (5 year % change)2.6 -1.2 4.3 1.0 -2.9 -5.4 -2.0 -7.5 -4.2p0.0pExport market share in volume (1 year % change)0.4 -3.7 -1.0 -3.2 0.5 -1.7 0.5 0.6 1.1p2.5pLabour productivity (1 year % change)0.5 0.9 2.9 1.8 1.7 1.1 0.9 0.4 0.7p0.7pNominal unit labour cost index, 2010=100 (10 year % change)33.8 38.9 38.2 32.7 27.4 20.2 16.1 12.5 10.2p5.9pUnit labour cost performance relative to EA (10 year % change)17.2 18.2 13.9 11.4 8.3 2.7 0.2 -3.2 -5.2 -8.4 House price index (2015=100) - nominal (3 year % change)41.4e22.7e1.1 -9.6 -15.3 -22.7 -28.5 -22.3 -5.6 8.7 Residential construction (% of GDP)11.7 10.4 8.1 6.9 5.7 4.9 4.1 4.5 4.4p4.6pPrivate sector debt, non-consolidated (% of GDP) 205.5 209.3 214.3 215.7 214.0 206.6 197.1 186.3 174.6p165.8pFinancial sector leverage, non-consolidated (% debt-to-equity)403.6 615.8 572.6 647.4 707.2 781.3 601.3 490.1 466.3 452.0 Flags:p:Provisional. 1) House price index: e = Eurostat estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.9 (continued): Auxiliary indicators for Spain 

137 

20072008200920102011201220132014201520161 year % change3.3 0.2 -6.3 -1.7 -2.7 -4.0 -2.6 1.0 2.7p2.5p%71.8 72.7 73.1 73.5 73.9 74.3 74.3 74.2 74.3 74.2 %1.7 2.0 4.3 7.3 8.9 11.0 13.0 12.9 11.4 9.5 %18.1 24.5 37.7 41.5 46.2 52.9 55.5 53.2 48.3 44.4 %12.0 14.3 18.1 17.8 18.2 18.6 18.6 17.1b15.6 14.6 3 year change in pp-0.5 1.3 6.3 5.8 3.9 0.5 0.8 -1.1b-3.0 -4.0 %23.3 23.8b24.7 26.1 26.7 27.2 27.3 29.2 28.6 27.9 3 year change in pp-1.7 -0.5b0.7 2.8 2.9b2.5 1.2 2.5 1.4 0.6 %19.7 19.8 20.4 20.7 20.6 20.8 20.4 22.2 22.1 22.3 3 year change in pp-0.4 -0.3 0.1 1.0 0.8 0.4 -0.3 1.6 1.3 1.9 %3.5 3.6 4.5 4.9 4.5 5.8 6.2 7.1 6.4 5.8 3 year change in pp-1.3 -0.5 0.4 1.4 0.9 1.3 1.3 2.6 0.6 -0.4 %6.8 6.6 7.6 10.8 13.4 14.3 15.7 17.1 15.4 14.9 3 year change in pp-0.5 -0.3 1.2 4.0 6.8 6.7 4.9 3.7 1.1 -0.8 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. p:Provisional. 1) Young people neither in employment nor in education and training: 2014: Change in the classification of non-formal education activities.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatSpainEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.10: Auxiliary indicators for France 

138 

France2007200820092010201120122013201420152016Real GDP (1 year % change) 2.4 0.2 -2.9 2.0 2.1 0.2 0.6 0.9 1.1p1.2pGross fixed capital formation (% of GDP)23.1 23.6 22.0 22.1 22.4 22.5 22.1 21.8 21.6p22.0pGross domestic expenditure on R&D (% of GDP)2.0 2.1 2.2 2.2b2.2 2.2 2.2 2.2 2.2pnaCurrent plus capital account (Net lending-borrowing) (% of GDP)-0.2 -0.9 -0.7 -0.8 -0.9 -1.2 -0.8 -1.0 -0.1 -0.9 Net external debt (% of GDP)13.0 22.7 25.3 28.1 28.3 33.8 32.5 35.8 36.7 37.5 Foreign direct investment in the reporting economy, flows (% of GDP)3.2 2.3 0.7 1.4 1.5 1.2 1.1 0.0 1.5 1.7 Foreign direct investment in the reporting economy, stocks (% of GDP)34.8 34.2 37.0 38.0 40.2 40.6 41.4 42.1 44.0 44.8 Net trade balance of energy products (% of GDP)-2.2 -2.8 -2.0 -2.4 -3.0 -3.3 -3.1 -2.5 -1.8p-1.4pReal effective exchange rate - Euro Area trading partners (3 year % change)-1.4 -1.2 -1.2 -0.2 -0.4 -0.5 -1.3 -0.7 -0.4 0.1 Export performance against advanced economies (5 year % change)-8.9 -9.6 -7.2 -10.7 -7.7 -8.9 -8.4 -8.4 -4.2 -5.1 Terms of trade (5 year % change)-2.6 -3.2 0.2 0.2 -0.7 -2.2 -0.4 -1.7 2.7p6.0pExport market share in volume (1 year % change)-5.1 -2.5 -1.3 -3.6 0.0 -0.3 -1.9 -0.4 1.2p-0.5pLabour productivity (1 year % change)0.9 -0.3 -1.8 1.9 1.3 -0.1 0.3 0.5 0.8p0.5pNominal unit labour cost index, 2010=100 (10 year % change)16.5 20.2 23.3 23.0 21.5 20.9 19.8 20.0 17.6p15.9pUnit labour cost performance relative to EA (10 year % change)1.2 1.0 0.3 2.6 2.7 2.4 2.6 2.6 1.7 -0.1 House price index (2015=100) - nominal (3 year % change)36.8b19.6 0.0 -0.9 4.0 10.3 3.2 -4.0 -4.9 -2.0 Residential construction (% of GDP)6.7 6.8 6.3 6.3 6.4 6.2 6.1 6.1 5.9p6.0pPrivate sector debt, non-consolidated (% of GDP) 150.5 157.4 165.2 165.4 171.6 175.9 174.5 180.5 183.5p188.7pFinancial sector leverage, non-consolidated (% debt-to-equity)293.0 414.3 338.3 348.8 454.9 405.6 372.0 393.2 358.6 347.5 Flags:b:Break in series. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.10 (continued): Auxiliary indicators for France 

139 

20072008200920102011201220132014201520161 year % change1.4 0.5 -1.1 0.1 0.8 0.3 0.2 0.4 0.2p0.6p%69.3 69.4 69.8 69.8 69.7 70.3 70.7 71.1 71.3 71.4 %3.3e2.9e3.3e3.9e4.0e4.1e4.4e4.5 4.6 4.6 %19.5 19.0 23.6 23.3 22.7 24.4 24.9 24.2 24.7 24.6 %10.7 10.5 12.7 12.7 12.3 12.5 11.2b11.4b12.0 11.9 3 year change in pp-0.2 -0.7 1.4 2.0 1.8 -0.2 -1.5b-0.9b-0.5 0.7 %19.0 18.5b18.5 19.2 19.3 19.1 18.1 18.5 17.7 18.2 3 year change in pp-0.8 -0.4b-0.3 0.2 0.8b0.6 -1.1 -0.8 -1.4 0.1 %13.1 12.5 12.9 13.3 14.0 14.1 13.7 13.3 13.6 13.6 3 year change in pp-0.4 -0.5 -0.3 0.2 1.5 1.2 0.4 -0.7 -0.5 -0.1 %4.7 5.4 5.6 5.8 5.2 5.3 4.9 4.8 4.5 4.4 3 year change in pp-1.4 0.1 0.6 1.1 -0.2 -0.3 -0.9 -0.4 -0.8 -0.5 %9.6 8.8 8.4 9.9 9.4 8.4 8.1 9.6 8.6 8.4 3 year change in pp-0.7 0.1 -0.7 0.3 0.6 0.0 -1.8 0.2 0.2 0.3 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. e:Estimated. p:Provisional. 1) Young people neither in employment nor in education and training: 2014 data are further impacted from the changes in the questionnaire introduced in 2013 and inclusion of French overseas departments (DOM).(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatFranceEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.11: Auxiliary indicators for Croatia   

140 

Croatia2007200820092010201120122013201420152016Real GDP (1 year % change) 5.2 2.1 -7.4 -1.4 -0.3 -2.2 -0.6 -0.1 2.3 3.0eGross fixed capital formation (% of GDP)26.828.125.221.220.219.619.719.319.619.9eGross domestic expenditure on R&D (% of GDP)0.8 0.9 0.8 0.7 0.8 0.8 0.8 0.8 0.9 0.9pCurrent plus capital account (Net lending-borrowing) (% of GDP)-7.2 -9.0 -5.1 -1.1 -0.7 -0.1 1.1 2.1 5.1 3.5 Net external debt (% of GDP)nananana61.7 59.9 59.4 57.7 51.9 40.9 Foreign direct investment in the reporting economy, flows (% of GDP)7.8 7.6 5.0 2.3 2.3 2.6 1.6 5.3 0.4 3.7 Foreign direct investment in the reporting economy, stocks (% of GDP)64.5 42.2 50.9 53.9 49.8 51.7 50.4 56.0 54.4 57.7 Net trade balance of energy products (% of GDP)-3.9 -5.1 -3.5 -3.8 -5.4 -5.6 -5.1 -4.0 -3.4 -2.7eReal effective exchange rate - Euro Area trading partners (3 year % change)4.4 6.0 3.9 4.3 -2.0 -2.5 -3.0 -1.5 -1.1 -1.0 Export performance against advanced economies (5 year % change)23.9 4.9 2.8 -6.0 -8.5 -15.0 -17.4 -14.5 -4.4 5.1 Terms of trade (5 year % change)7.9 6.7 5.2 5.6 4.4 2.6 1.3 0.6 0.5 1.7eExport market share in volume (1 year % change)-4.5 -2.1 -4.1 -6.4 -4.7 -2.9 -0.7 2.36.3 3.3eLabour productivity (1 year % change)1.9p-0.1d-6.7d2.4d3.7d1.4d2.0d-2.7d1.1d2.7dNominal unit labour cost index, 2010=100 (10 year % change)nanana31.9d34.9d25.9d17.4d12.7d8.7d4.3dUnit labour cost performance relative to EA (10 year % change)29.5 15.0 10.8 9.9 14.6 7.9 1.9 -1.8 -3.6 -5.1 House price index (2015=100) - nominal (3 year % change)46.8e35.7e9.5e-8.4e-10.9 -7.6 -5.3 -6.9 -8.2 -3.6 Residential construction (% of GDP)nanananananananananaPrivate sector debt, non-consolidated (% of GDP) 111.6 120.3 133.3 143.5 142.4 142.9 143.1 140.9 138.2 130.6eFinancial sector leverage, non-consolidated (% debt-to-equity)237.6 481.3 483.2 459.0 491.0 455.1 486.8 465.4 427.7 375.9 Flags:e:Estimated. p:Provisional. 1) House price index: e = source NCB. 2) d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
Table 5.11 (continued): Auxiliary indicators for Croatia 

141 

20072008200920102011201220132014201520161 year % change3.2p2.1d-0.7d-3.8d-3.9d-3.6d-2.6d2.7d1.2d0.3d%65.7 65.8 65.6 65.1 64.1 63.9 63.7 66.1 66.9 65.6 %6.0 5.3 5.1 6.6 8.4 10.2 11.0 10.1 10.2 6.6 %25.4 23.6 25.4 32.3 36.6 42.2 49.9 44.9 42.3 31.8 %12.9 11.6 13.4 15.7 16.2 16.6 19.6 19.3 18.1 16.9 3 year change in pp-4.2 -5.1 -0.8 2.8 4.6 3.2 3.9 3.1 1.5 -2.7 %nanana31.1 32.6 32.6 29.9 29.3 29.1 27.9 3 year change in ppnananananana-1.2 -3.3 -3.5 -2.0 %nanana20.6 20.9 20.4 19.5 19.4 20.0 19.5 3 year change in ppnananananana-1.1 -1.5 -0.4 0.0 %nanana14.3 15.2 15.9 14.7 13.9 13.7 12.5 3 year change in ppnananananana0.4 -1.3 -2.2 -2.2 %nanana13.9 15.9 16.8 14.8 14.7 14.4 13.0 3 year change in ppnananananana0.9 -1.2 -2.4 -1.8 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:p:Provisional. 1) d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatCroatiaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.12: Auxiliary indicators for Italy 

142 

Italy2007200820092010201120122013201420152016Real GDP (1 year % change) 1.5 -1.1 -5.5 1.7 0.6 -2.8 -1.7 0.1 1.0 0.9 Gross fixed capital formation (% of GDP)21.6 21.2 20.0 19.9 19.7 18.4 17.2 16.7 16.9 17.1 Gross domestic expenditure on R&D (% of GDP)1.1 1.2 1.2 1.2 1.2 1.3 1.3 1.4e1.3 naCurrent plus capital account (Net lending-borrowing) (% of GDP)-1.3 -2.8 -1.9 -3.4 -2.9 -0.1 0.9 2.1 1.8 2.6 Net external debt (% of GDP)na37.0 41.2 47.7 45.8 52.3 56.4 58.7 59.2 55.1 Foreign direct investment in the reporting economy, flows (% of GDP)3.0 -0.5 0.9 0.4 1.5 0.0 0.9 0.8 0.7 1.0 Foreign direct investment in the reporting economy, stocks (% of GDP)21.4 18.8 22.1 20.3 21.5 23.2 23.8 25.1 25.6 25.9 Net trade balance of energy products (% of GDP)-2.9 -3.6 -2.6 -3.2 -3.7 -3.8 -3.3 -2.6 -2.0 -1.6 Real effective exchange rate - Euro Area trading partners (3 year % change)-0.1 0.0 0.4 0.7 0.9 1.4 1.0 0.4 -0.5 -0.7 Export performance against advanced economies (5 year % change)0.0 -6.4 -10.9 -12.4 -11.9 -16.7 -14.0 -9.2 -7.5 -5.5 Terms of trade (5 year % change)-4.4 -8.0 -1.3 -2.1 -1.7 -4.2 -0.6 -4.1 2.2 7.5 Export market share in volume (1 year % change)-1.7 -6.0 -8.1 -0.8 -1.7 -0.5 -3.1 -1.0 1.3 0.1 Labour productivity (1 year % change)0.2 -1.3 -3.9 2.3 0.3 -2.5 0.1 0.0 0.3 -0.3 Nominal unit labour cost index, 2010=100 (10 year % change)22.6 30.0 33.6 32.9 29.6 26.5 22.2 19.5 17.7 16.4 Unit labour cost performance relative to EA (10 year % change)7.7 11.3 11.4 13.7 12.5 10.1 6.3 3.5 2.9 0.6 House price index (2015=100) - nominal (3 year % change)19.5e13.9e7.2e1.3be-0.6e-2.8e-7.7p-12.4p-12.2p-7.6pResidential construction (% of GDP)5.8 5.8 5.6 5.6 5.3 5.0 4.8 4.5 4.3 4.4 Private sector debt, non-consolidated (% of GDP) 112.7 116.3 125.0 125.8 125.3 127.3 124.6 122.4 118.2 116.5 Financial sector leverage, non-consolidated (% debt-to-equity)354.1 764.1 694.4 905.2 1221.0 1237.7 941.2 782.4 660.4 751.4 Flags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: e = source NCB.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.12 (continued): Auxiliary indicators for Italy 

143 

20072008200920102011201220132014201520161 year % change1.2 0.2 -1.7 -0.6 0.3 -0.3 -1.8 0.1 0.7 1.3 %62.4 62.9 62.3 62.0 62.1 63.5 63.4 63.9 64.0 64.9 %2.9 3.0 3.4 4.0 4.3 5.6 6.9 7.7 6.9 6.7 %20.4 21.2 25.3 27.9 29.2 35.3 40.0 42.7 40.3 37.8 %16.1 16.6 17.6 19.0 19.7 21.0 22.2 22.1 21.4 19.9 3 year change in pp-0.7 -0.5 0.8 2.9 3.1 3.4 3.2 2.4 0.4 -2.3 %26.0 25.5 24.9 25.0 28.1 29.9 28.5 28.3 28.7 na3 year change in pp-0.2 -0.1 -1.0 -1.0 2.6 5.0 3.5 0.2 -1.2 na%19.5 18.9 18.4 18.7 19.8 19.5 19.3 19.4 19.9 na3 year change in pp0.6 -0.3 -0.9 -0.8 0.9 1.1 0.6 -0.4 0.4 na%7.0 7.5 7.3 7.4 11.1 14.5 12.3 11.6 11.5 11.9p3 year change in pp0.0 0.7 0.9 0.4 3.6 7.2 4.9 0.5 -3.0 -0.4p%10.2 10.4 9.2 10.6 10.5 10.6 11.3 12.1 11.7 na3 year change in pp-2.1 -0.6 -2.1 0.4 0.1 1.4 0.7 1.6 1.1 naPeople at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:p:Provisional. 1) Official transmission deadline for 2016 data on People at risk of poverty and social exclusion is 30 November 2017 while data were extracted on 24 October 2017(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatItalyEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.13: Auxiliary indicators for Cyprus 

144 

Cyprus2007200820092010201120122013201420152016Real GDP (1 year % change) 4.8 3.9 -1.8 1.3 0.3 -3.1 -5.9 -1.4 2.0 3.0pGross fixed capital formation (% of GDP)25.5 27.2 23.4 22.3 18.9 15.1 14.1 11.7 13.0 17.5pGross domestic expenditure on R&D (% of GDP)0.4 0.4 0.4 0.5 0.5 0.4 0.5 0.5 0.5 naCurrent plus capital account (Net lending-borrowing) (% of GDP)na-15.3 -7.3 -11.0 -3.7 -5.8 -3.5 -3.5 -1.2 -4.7 Net external debt (% of GDP)na58.3 70.0 70.9 127.1 137.2 140.0 136.1 148.3 152.0 Foreign direct investment in the reporting economy, flows (% of GDP)na8.7 10.8 53.3 -43.5 30.5 -25.0 -2.2 41.4 13.0 Foreign direct investment in the reporting economy, stocks (% of GDP)na701.6 711.8 773.4 700.1 866.4 863.8 849.4 1050.0 1061.6 Net trade balance of energy products (% of GDP)-5.1 -6.4 -4.6 -6.0 -6.8 -7.5 -6.3 -5.9 -4.1 -3.4pReal effective exchange rate - Euro Area trading partners (3 year % change)-0.4 -0.7 -1.3 0.4 0.7 2.0 1.0 -0.1 -2.4 -3.3 Export performance against advanced economies (5 year % change)-10.7e-16.9e-1.5e-9.0e-3.5e-12.8e-8.7 -18.7 -10.6 -5.7 Terms of trade (5 year % change)3.3 0.1 -1.2 0.2 -0.1 -0.8 -0.2 0.1 -0.5 0.0pExport market share in volume (1 year % change)-2.6 -3.6 5.9 -8.1 -1.3 -5.5 -1.7 0.5 3.2 1.6pLabour productivity (1 year % change)0.4 0.3 -1.8 0.8 0.3 0.1 0.0 0.4 0.5 -0.1pNominal unit labour cost index, 2010=100 (10 year % change)32.4 37.2 45.5 42.5 41.8 39.2 20.8 14.2 5.4 3.0pUnit labour cost performance relative to EA (10 year % change)13.0 13.5 16.2 15.8 17.2 17.0 4.5 -0.7 -6.2 -7.9 House price index (2015=100) - nominal (3 year % change)32.8e32.1 10.3 -6.9p-13.3p-10.1p-8.5p-8.7p-7.1bp-2.9pResidential construction (% of GDP)12.3 12.1 9.8 8.1 6.2 4.9 4.1 4.1 4.2 4.6pPrivate sector debt, non-consolidated (% of GDP) 270.0 289.5 310.9 320.6 327.3 330.4 341.5 353.8 354.7 345.6pFinancial sector leverage, non-consolidated (% debt-to-equity)360.1 127.6 147.6 121.3 138.0 102.7 90.9 99.5 78.2 76.3 Flags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: e = Eurostat estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.13 (continued): Auxiliary indicators for Cyprus 

145 

20072008200920102011201220132014201520161 year % change4.4 3.5 0.0 0.5 0.0 -3.2 -5.9 -1.8 1.5 3.1p%73.9 73.6 73.0b73.6 73.5 73.5 73.6 74.3 73.9 73.4 %0.7 0.5 0.6b1.3 1.6 3.6 6.1 7.7 6.8 5.8 %10.2 9.0 13.8 16.6 22.4 27.7 38.9 36.0 32.8 29.1 %9.0 9.7 9.9b11.7 14.6 16.0 18.7 17.0 15.3 16.0 3 year change in pp-0.4 -9.8 -0.8b2.7 4.9 6.1 7.0 2.4 -0.7 -2.7 %25.2 23.3b23.5 24.6 24.6 27.1 27.8 27.4 28.9 27.7 3 year change in ppna-2.0b-1.9 -0.6 1.3b3.6 3.2 2.8 1.8 -0.1 %15.5 15.9 15.8 15.6 14.8 14.7 15.3 14.4 16.2 16.1 3 year change in ppna-0.2 0.2 0.1 -1.1 -1.1 -0.3 -0.4 1.5 0.8 %13.3 9.1 9.5 11.2 11.7 15.0 16.1 15.3 15.4 13.6 3 year change in ppna-3.1 -3.1 -2.1 2.6 5.5 4.9 3.6 0.4 -2.5 %3.7 4.5b4.0 4.9 4.9 6.5 7.9 9.7 10.9 10.6 3 year change in ppna0.1b0.2 1.2 0.4b2.5 3.0 4.8 4.4 2.7 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatCyprusEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.14: Auxiliary indicators for Latvia 

146 

Latvia2007200820092010201120122013201420152016Real GDP (1 year % change) 10.0 -3.5 -14.4 -3.9 6.4 4.0 2.6 1.9 2.8 2.1 Gross fixed capital formation (% of GDP)36.4 32.1 22.5 19.4 22.2 25.4 23.2 22.5 22.1 18.2 Gross domestic expenditure on R&D (% of GDP)0.6 0.6 0.5 0.6 0.7 0.7 0.6 0.7 0.6 0.4pCurrent plus capital account (Net lending-borrowing) (% of GDP)-18.9 -11.0 10.2 4.0 -1.1 -0.6 -0.2 1.5 2.3 2.4 Net external debt (% of GDP)46.1 53.9 58.6 55.7 47.2 39.5 36.4 33.6 29.2 28.8 Foreign direct investment in the reporting economy, flows (% of GDP)8.8 3.7 -0.2 1.9 5.3 3.8 3.2 3.0 3.1 0.9 Foreign direct investment in the reporting economy, stocks (% of GDP)35.3 36.0 46.3 49.7 50.1 49.7 54.0 56.3 59.8 58.1 Net trade balance of energy products (% of GDP)-4.3 -5.5 -4.4 -4.9 -5.5 -6.1 -5.6 -4.2 -3.2 -2.3 Real effective exchange rate - Euro Area trading partners (3 year % change)10.8 21.5 18.9 8.3 0.3 -0.7 0.2 -1.3 -2.0 -0.1 Export performance against advanced economies (5 year % change)114.6 96.7 65.5 31.6 38.2 20.8 14.1 19.0 14.5 6.2 Terms of trade (5 year % change)7.8 3.9 1.5 2.6 6.3 -1.3 1.0 -0.4 0.1 -0.1 Export market share in volume (1 year % change)5.9 -0.5 -2.9 0.8 5.1 7.0 -2.7 2.3 -0.1 1.8 Labour productivity (1 year % change)5.9 -2.7 -0.1 2.9 4.8 2.5 0.3 3.3 1.4 2.4 Nominal unit labour cost index, 2010=100 (10 year % change)96.2 132.8 99.6 80.5 77.5 88.5 90.5 88.3 73.8 56.6 Unit labour cost performance relative to EA (10 year % change)69.0 92.4 60.2 48.6 47.3 55.9 57.8 55.2 42.7 27.2 House price index (2015=100) - nominal (3 year % change)162.1e113.8e-13.6 -43.6 -38.4 1.2 21.5 16.6 9.5 11.1 Residential construction (% of GDP)7.2 6.1 2.4 1.6 1.9 2.2 2.2 2.5 2.5 2.0 Private sector debt, non-consolidated (% of GDP) 116.1 120.7 145.5 151.1 131.4 119.4 110.2 104.2 97.5 96.9 Financial sector leverage, non-consolidated (% debt-to-equity)1007.6 985.8 831.3 795.3 690.8 684.2 609.8 642.6 625.4 643.0 Flags:p:Provisional. 1) House price index: e = Eurostat estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.14 (continued): Auxiliary indicators for Latvia 

147 

20072008200920102011201220132014201520161 year % change3.8 -0.8 -14.3 -6.7 1.5 1.4 2.3 -1.3 1.4 -0.3 %72.6 74.2 73.5 73.0 72.8 74.4 74.0 74.6 75.7 76.3 %1.6 1.9 4.5 8.8 8.8 7.8 5.7 4.6 4.5 4.0 %10.6 13.6 33.3 36.2 31.0 28.5 23.2 19.6 16.3 17.3 %11.9 11.8 17.5 17.8 16.0 14.9 13.0 12.0 10.5 11.2 3 year change in pp-0.5 1.2 6.0 5.9 4.2 -2.6 -4.8 -4.0 -4.4 -1.8 %35.1 34.2b37.9 38.2 40.1 36.2 35.1 32.7 30.9 28.5 3 year change in ppna-12.1b-4.3 3.1 5.9b-1.7 -3.1 -7.4 -5.3 -6.6 %21.2 25.9 26.4 20.9 19.0 19.2 19.4 21.2 22.5 21.8 3 year change in pp5.2 6.5 2.9 -0.3 -6.9 -7.2 -1.5 2.2 3.3 2.4 %24.0 19.3 22.1 27.6 31.0 25.6 24.0 19.2 16.4 12.8 3 year change in ppna-20.0 -9.2 3.6 11.7 3.5 -3.6 -11.8 -9.2 -11.2 %6.2 5.4 7.4 12.6 12.6 11.7 10.0 9.6 7.8 7.2 3 year change in ppna-2.9 0.3 6.4 7.2 4.3 -2.6 -3.0 -3.9 -2.8 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatLatviaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.15: Auxiliary indicators for Lithuania 

148 

Lithuania2007200820092010201120122013201420152016Real GDP (1 year % change) 11.1 2.6 -14.8 1.6 6.0 3.8 3.5 3.5 2.0 2.3 Gross fixed capital formation (% of GDP)28.6 26.0 17.9 16.9 18.5 17.4 18.5 18.9 19.6 18.9 Gross domestic expenditure on R&D (% of GDP)0.8 0.8 0.8 0.8 0.9 0.9 1.0 1.0 1.0 0.7pCurrent plus capital account (Net lending-borrowing) (% of GDP)-13.4 -11.7 5.7 2.5 -1.3 1.5 3.9 5.8 0.2 0.4 Net external debt (% of GDP)28.1 35.3 37.8 35.8 32.1 34.0 29.2 27.7 25.8 24.7 Foreign direct investment in the reporting economy, flows (% of GDP)5.8 4.0 0.1 2.3 3.5 1.4 1.5 1.1 2.3 2.3 Foreign direct investment in the reporting economy, stocks (% of GDP)36.6 29.9 37.0 38.6 37.9 38.2 38.7 38.4 40.0 41.3 Net trade balance of energy products (% of GDP)-4.2 -5.7 -4.1 -7.1 -7.6 -7.5 -6.1 -4.7 -3.6 -2.6 Real effective exchange rate - Euro Area trading partners (3 year % change)4.6 10.4 12.9 9.9 4.7 1.7 1.4 -0.1 -1.4 -0.7 Export performance against advanced economies (5 year % change)43.3e59.2e41.9 28.7 41.4 48.2 28.5 43.3 17.0 2.4 Terms of trade (5 year % change)7.6 11.5 -1.3 -2.2 -0.2 -1.9 -5.6 -0.9 2.2 5.6 Export market share in volume (1 year % change)-4.7 10.6 -2.8 6.3 8.5 9.6 6.1 -0.4 -3.5 1.2 Labour productivity (1 year % change)8.9 4.0 -7.7 7.3 5.5 2.0 2.1 1.5 0.7 0.4 Nominal unit labour cost index, 2010=100 (10 year % change)28.2 31.8 27.8 29.4 34.9 35.3 38.5 37.4 35.5 28.0 Unit labour cost performance relative to EA (10 year % change)7.4 5.3 0.2 4.6 10.0 9.4 12.8 11.7 11.5 5.3 House price index (2015=100) - nominal (3 year % change)103.7e76.7e-3.5 -29.3 -30.8 -1.5 7.7 7.5 11.7 16.3 Residential construction (% of GDP)2.8 3.4 3.3 2.1 2.0 1.9 2.2 2.5 2.8 3.0 Private sector debt, non-consolidated (% of GDP) 80.7 81.9 86.7 78.3 68.5 65.4 62.2 58.1 59.1 63.3 Financial sector leverage, non-consolidated (% debt-to-equity)774.3 1008.0 783.0 605.9 616.2 617.8 578.1 443.1 468.3 547.5 Flags: e:Estimated. p:Provisional. 1) House price index: e = Eurostat estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.15 (continued): Auxiliary indicators for Lithuania  

149 

20072008200920102011201220132014201520161 year % change2.0 -1.3 -7.7 -5.3 0.5 1.8 1.3 2.0 1.3 2.0 %67.9 68.4 69.6 70.2 71.4 71.8 72.4 73.7 74.1 75.5 %1.4u1.3u3.3 7.4 8.0 6.6 5.1 4.8 3.9 3.0 %8.4 13.3 29.6 35.7 32.6 26.7 21.9 19.3 16.3 14.5 %7.1 8.8 12.1 13.2 11.8 11.2 11.1 9.9 9.2 9.4 3 year change in pp-3.5 0.0 3.8 6.1 3.0 -0.9 -2.1 -1.9 -2.0 -1.7 %28.7 28.3 29.6 34.0 33.1 32.5 30.8 27.3 29.3 30.1 3 year change in ppna-12.7 -6.3 5.3 4.8 2.9 -3.2 -5.8 -3.2 -0.7 %19.1 20.9 20.3 20.5 19.2 18.6 20.6 19.1 22.2 21.9 3 year change in pp2.1 0.4 0.3 1.4 -1.7 -1.7 0.1 -0.1 3.6 1.3 %16.6 12.5 15.6 19.9 19.0 19.8 16.0 13.6 13.9 13.5 3 year change in ppna-20.1 -9.7 3.3 6.5 4.2 -3.9 -5.4 -5.9 -2.5 %6.4 6.1 7.2 9.5 12.7 11.4 11.0 8.8 9.2 10.2 3 year change in ppna-3.5 -1.1 3.1 6.6 4.2 1.5 -3.9 -2.2 -0.8 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:u:Low reliability. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatLithuaniaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
Table 5.16: Auxiliary indicators for Luxembourg 

150 

Luxembourg2007200820092010201120122013201420152016Real GDP (1 year % change) 8.4 -1.3 -4.4 4.9 2.5 -0.4 3.7 5.8 2.9 3.1 Gross fixed capital formation (% of GDP)18.4 20.3 18.4 17.6 19.2 20.2 19.5 19.0 17.3 17.2 Gross domestic expenditure on R&D (% of GDP)1.6e1.6 1.7 1.5 1.5 1.3b1.3 1.3 1.3 naCurrent plus capital account (Net lending-borrowing) (% of GDP)9.3 6.9 6.1 6.2 5.6 4.7 4.3 3.8 4.6 4.4 Net external debt (% of GDP)-2587.1 -2139.8 -2686.1 -2972.4 -2345.3 -2329.9 -2162.8 -1967.3 -1948.1 -1875.5 Foreign direct investment in the reporting economy, flows (% of GDP)372.8 182.4 410.6 423.7 679.9 981.1 1025.1 273.1 1063.5 23.2 Foreign direct investment in the reporting economy, stocks (% of GDP)2757.4 2968.2 3505.4 3640.8 4666.0 6000.7 6486.1 7817.6 9159.2 8938.5 Net trade balance of energy products (% of GDP)-5.3 -6.6 -4.1 -4.8 -5.9 -6.3 -5.4 -4.4 -3.1 -2.5 Real effective exchange rate - Euro Area trading partners (3 year % change)3.0 2.1 0.9 1.7 2.0 2.8 1.7 0.8 0.3 -0.2 Export performance against advanced economies (5 year % change)37.8 28.8 21.3 11.7 5.0 0.6 11.4 19.4 26.1 22.7 Terms of trade (5 year % change)1.5 1.8 3.6 4.6 3.0 4.2 2.8 1.2 0.1 -1.0 Export market share in volume (1 year % change)0.2 2.6 -1.6 -2.2 -2.9 0.0 1.5 10.3 3.8 0.4 Labour productivity (1 year % change)3.8 -5.8 -5.4 3.0 -0.4 -2.7 1.8 3.1 0.3 0.0 Nominal unit labour cost index, 2010=100 (10 year % change)25.8 37.9 46.8 41.4 36.0 38.2 36.7 32.0 31.1 28.4 Unit labour cost performance relative to EA (10 year % change)5.9 12.4 17.0 17.1 16.2 17.1 16.2 14.4 11.6 7.8 House price index (2015=100) - nominal (3 year % change)32.5be22.9e9.3e7.7 8.0 13.9 13.4 14.2 15.5 16.6 Residential construction (% of GDP)4.0 4.4 3.5 2.9 3.0 3.2 3.6 3.2 3.0 3.2 Private sector debt, non-consolidated (% of GDP) 331.7 326.7 377.8 342.9 348.7 371.0 375.2 384.8 418.7 410.1 Financial sector leverage, non-consolidated (% debt-to-equity)59.7 69.8 55.3 48.3 58.1 60.8 56.9 54.1 53.5 54.0 Flags:b:Break in series. e:Estimated. 1) House price index: e =  NSI&NCB estimates. 2) Private sector debt: due to improved sources and methods, there are significant revisions in the time series. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.16 (continued): Auxiliary indicators for Luxembourg 

151 

20072008200920102011201220132014201520161 year % change4.4 4.8 1.0 1.8 3.0 2.4 1.8 2.6 2.6 3.0 %66.9b66.8 68.7b68.2 67.9 69.4 69.9 70.8 70.9b70.0 %1.2b1.6 1.2b1.3 1.4 1.6 1.8 1.6 1.9b2.2 %15.6 17.3 16.5 15.8 16.4 18.0 16.9 22.3 16.6 19.1 %5.7b6.2 5.8b5.1 4.7 5.9 5.0 6.3 6.2b5.4 3 year change in pp-0.6b0.7 -0.9b-0.6 -1.5 0.1 -0.1 1.6 0.3b0.4 %15.9 15.5 17.8 17.1 16.8 18.4 19.0 19.0 18.5 19.7bp3 year change in pp-0.2 -1.8 1.3 1.2 1.3 0.6 1.9 2.2 0.1 0.7bp%13.5 13.4 14.9 14.5 13.6 15.1 15.9 16.4 15.3 16.5bp3 year change in pp0.8 -0.3 0.8 1.0 0.2 0.2 1.4 2.8 0.2 0.6bp%0.8 0.7 1.1 0.5 1.2 1.3 1.8 1.4 2.0 1.6bp3 year change in pp0.0 -1.1 0.0 -0.3 0.5 0.2 1.3 0.2 0.7 -0.2bp%5.0 4.7 6.3 5.5 5.8 6.1 6.6 6.1 5.7 6.6bp3 year change in pp-1.2 -1.0 1.1 0.5 1.1 -0.2 1.1 0.3 -0.4 0.0bpPeople at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatLuxembourgEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.17: Auxiliary indicators for Hungary  

152 

Hungary2007200820092010201120122013201420152016Real GDP (1 year % change) 0.4 0.9 -6.6 0.7 1.7 -1.6 2.1 4.2 3.4 2.2 Gross fixed capital formation (% of GDP)23.6 23.2 22.7 20.2 19.7 19.3 20.9 22.2 21.9 19.2 Gross domestic expenditure on R&D (% of GDP)1.0 1.0 1.1 1.1 1.2 1.3 1.4 1.4 1.4 1.2 Current plus capital account (Net lending-borrowing) (% of GDP)-6.4 -5.8 0.9 2.1 3.1 4.3 7.3 5.2 8.0 6.2 Net external debt (% of GDP)26.3 67.1 78.4 49.7 68.3 69.0 59.6 57.6 24.0 9.5 Foreign direct investment in the reporting economy, flows (% of GDP)49.6 47.6 -2.6 -16.0 9.9 8.1 -2.8 9.5 -4.4 55.6 Foreign direct investment in the reporting economy, stocks (% of GDP)176.7 218.0 226.9 214.3 236.3 227.1 211.4 217.2 222.4 260.8 Net trade balance of energy products (% of GDP)-4.6 -6.2 -4.9 -5.1 -6.0 -6.3 -6.3 -6.2 -4.2 -3.2 Real effective exchange rate - Euro Area trading partners (3 year % change)8.9 8.5 5.3 0.0 -2.5 4.4 -3.2 -7.2 -7.1 -5.1 Export performance against advanced economies (5 year % change)41.3 39.4 22.4 11.8 6.6 -11.9 -16.9 -10.7 -6.4 -3.2 Terms of trade (5 year % change)-3.1 -4.0 -2.6 -0.8 -0.9 -2.2 -0.3 -0.8 0.0 2.6 Export market share in volume (1 year % change)8.2 4.0 -1.4 -1.3 -0.4 -4.6 0.4 5.4 5.4 1.1 Labour productivity (1 year % change)0.3 2.9 -4.2 1.8 1.7 -1.8 1.0 -0.6 0.9 -0.4 Nominal unit labour cost index, 2010=100 (10 year % change)94.0 81.2 75.1 56.6 43.2 39.5 30.8 26.7 20.1 23.2 Unit labour cost performance relative to EA (10 year % change)73.0 56.8 45.9 31.3 20.7 17.4 10.7 8.4 6.5 9.1 House price index (2015=100) - nominal (3 year % change)nanana-5.3 -10.7 -9.2 -9.4 -2.2 14.8 33.6 Residential construction (% of GDP)4.0 4.1 4.1 3.1 2.2 2.0 1.8 1.9 2.2 2.4 Private sector debt, non-consolidated (% of GDP) 109.0 119.4 131.2 129.3 130.1 118.7 111.2 108.1 99.5 92.5 Financial sector leverage, non-consolidated (% debt-to-equity)117.5 136.4 136.9 121.1 130.3 120.5 124.7 125.0 109.3 75.8 (cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
Table 5.17 (continued): Auxiliary indicators for Hungary   

153 

20072008200920102011201220132014201520161 year % change0.1 -2.0 -2.5 -1.1 0.0 0.2 1.1 4.8 2.4 2.6 %61.6 61.2 61.2 61.9 62.4 63.7 64.7 67.0 68.6 70.1 %3.5 3.6 4.2 5.5 5.2 5.0 4.9 3.7 3.1 2.4 %18.1 19.5i26.4 26.4 26.0 28.2 26.6 20.4 17.3 12.9 %11.5 11.5 13.6 12.6 13.2 14.8 15.5 13.6 11.6b11.0 3 year change in pp-1.2 -1.4 1.2 1.1 1.7 1.2 2.9 0.4 -3.2b-4.5 %29.4 28.2 29.6 29.9 31.5 33.5 34.8 31.8 28.2 26.3 3 year change in ppna-3.9 -1.8 0.5 3.3 3.9 4.9 0.3 -5.3 -8.5 %12.3 12.4 12.4 12.3 14.1 14.3 15.0 15.0 14.9 14.5 3 year change in pp2.3 -1.1 -3.5 0.0 1.7 1.9 2.7 0.9 0.6 -0.5 %19.9 17.9 20.3 21.6 23.4 26.3 27.8 24.0 19.4 16.2 3 year change in ppna-5.0 -0.6 1.7 5.5 6.0 6.2 0.6 -6.9 -11.6 %11.3 12.0 11.3 11.9 12.8 13.5 13.6 12.8 9.4 8.2 3 year change in ppna2.5 -1.8 0.6 0.8 2.2 1.7 0.0 -4.1 -5.4 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series.1) Youth unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatHungaryEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
Table 5.18: Auxiliary indicators for Malta 

154 

Malta2007200820092010201120122013201420152016Real GDP (1 year % change) 4.0 3.3 -2.5 3.5 1.4 2.6 4.6 8.2 7.1 5.5 Gross fixed capital formation (% of GDP)22.4 19.6 18.2 21.4 18.0 18.2 17.5 17.4 25.1 23.8 Gross domestic expenditure on R&D (% of GDP)0.6 0.5 0.5 0.6 0.7 0.8 0.8 0.7 0.8 0.6pCurrent plus capital account (Net lending-borrowing) (% of GDP)-0.7 -0.7 -5.4 -2.7 1.2 3.2 4.4 10.5 6.4 7.4 Net external debt (% of GDP)-385.9 -428.8 -334.8 -490.7 -495.8 -479.5 -376.6 -302.1 -257.3 -222.0 Foreign direct investment in the reporting economy, flows (% of GDP)451.2 164.7 16.8 106.3 82.0 36.1 5.7 2.8 28.7 22.3 Foreign direct investment in the reporting economy, stocks (% of GDP)1549.3 1636.5 1698.3 1859.2 2024.4 2052.3 1973.2 1852.4 1771.4 1736.5 Net trade balance of energy products (% of GDP)-1.5 -2.3 -0.1 1.1 -2.8 -12.2 -9.2 -14.9 -9.2 -9.0 Real effective exchange rate - Euro Area trading partners (3 year % change)-0.7 0.6 1.5 3.5 1.8 1.1 0.1 0.7 1.0 2.1 Export performance against advanced economies (5 year % change)na23.4 58.1 49.1 28.4 25.6 7.0 -6.2 -0.5 5.6 Terms of trade (5 year % change)2.1 0.0 1.0 1.6 1.1 0.2 1.0 2.1 1.0 1.4 Export market share in volume (1 year % change)3.0 16.5 9.6 -5.7 -5.2 4.5 -2.6 0.2 1.1 1.2 Labour productivity (1 year % change)1.7 0.8 -2.5 1.8 -1.5 0.1 0.8 2.9 3.0 1.8 Nominal unit labour cost index, 2010=100 (10 year % change)nanana30.4 28.7 32.0 29.4 24.2 25.9 22.1 Unit labour cost performance relative to EA (10 year % change)4.5 4.8 6.6 9.8 9.5 13.1 12.1 7.1 9.4 6.9 House price index (2015=100) - nominal (3 year % change)56.2e61.1 28.6 7.4 -4.6 2.7 1.2 5.2 8.1 14.6pResidential construction (% of GDP)7.4 5.6 4.3 3.4 3.4 3.0 2.6 2.5 3.2 3.9 Private sector debt, non-consolidated (% of GDP) 180.5 195.9 217.0 218.3 227.3 221.7 214.6 210.6 198.0 194.8 Financial sector leverage, non-consolidated (% debt-to-equity)48.7 50.1 50.1 45.9 40.9 39.0 38.3 41.6 36.8 35.4 Flags:p:Provisional. 1) House price index: e = Eurostat estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.18 (continued): Auxiliary indicators for Malta 

155 

20072008200920102011201220132014201520161 year % change2.2 2.5 0.0 1.7 2.9 2.5 3.7 5.1 3.9 3.7 %58.8 59.1 59.4 60.4 61.8 63.1 65.0 66.3 67.6 69.1 %2.7 2.6 2.9 3.1 3.0 3.1 2.9 2.7 2.4 1.9 %13.5 11.7 14.5 13.2 13.3 14.1 13.0 11.7 11.8 11.0 %11.5 8.3 9.9 9.5 10.2 10.6 9.9 10.5 10.4 8.5 3 year change in pp-1.6 -3.6 -0.4 -2.0 1.9 0.7 0.4 0.3 -0.2 -1.4 %19.7 20.1 20.3 21.2 22.1 23.1 24.0 23.8 22.4 20.1 3 year change in ppna-0.4 0.8 1.5 2.0 2.8 2.8 1.7 -0.7 -3.9 %15.1 15.3 14.9 15.5 15.6 15.1 15.7 15.9 16.3 16.5 3 year change in pp0.1 1.0 0.7 0.4 0.3 0.2 0.2 0.3 1.2 0.8 %4.4 4.3 5.0 6.5 6.6 9.2 9.5 10.2 8.1 4.4 3 year change in ppna-1.1 1.1 2.1 2.3 4.2 3.0 3.6 -1.1 -5.1 %9.6 8.6 9.2 9.2 8.9 9.0 9.0 9.8 9.2 7.3 3 year change in ppna-1.0 -0.5 -0.4 0.3 -0.2 -0.2 0.9 0.2 -1.7 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatMaltaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.19: Auxiliary indicators for Netherlands 

156 

Netherlands2007200820092010201120122013201420152016Real GDP (1 year % change) 3.7 1.7 -3.8 1.4 1.7 -1.1 -0.2 1.4 2.3 2.2pGross fixed capital formation (% of GDP)21.8 22.3 21.3 19.7 20.3 18.9 17.9 18.0 19.4 19.9pGross domestic expenditure on R&D (% of GDP)1.7 1.6 1.7 1.7 1.9b1.9b2.0 2.0 2.0 naCurrent plus capital account (Net lending-borrowing) (% of GDP)5.3 5.0 5.6 6.6 8.8 9.0 10.0 8.5 3.6 8.8 Net external debt (% of GDP)46.4 59.8 63.7 71.9 67.7 52.3 52.2 53.7 51.7 43.7 Foreign direct investment in the reporting economy, flows (% of GDP)85.9 17.8 11.1 14.6 37.5 29.8 37.9 13.1 19.3 19.6 Foreign direct investment in the reporting economy, stocks (% of GDP)409.0 404.8 422.0 436.6 478.0 509.3 540.8 565.3 587.2 598.9 Net trade balance of energy products (% of GDP)-1.2 -0.7 -0.7 -1.5 -1.9 -2.6 -1.4 -1.6 -1.1 -0.7pReal effective exchange rate - Euro Area trading partners (3 year % change)-1.8 -2.3 -1.1 -1.0 -0.1 -0.4 1.4 1.3 1.0 -0.4 Export performance against advanced economies (5 year % change)7.0 4.5 2.6 -0.6 0.1 -2.4 -4.5 -4.9 -5.1 -2.7 Terms of trade (5 year % change)0.4 -0.2 1.0 -0.4 -2.1 -2.3 -1.7 -2.6 -0.3 1.8pExport market share in volume (1 year % change)-2.3 -1.1 1.1 -2.1 -2.5 1.0 -1.7 0.8 3.4 2.0pLabour productivity (1 year % change)0.7 0.1 -2.9 2.1 0.8 -0.9 1.0 1.5 1.3p1.1pNominal unit labour cost index, 2010=100 (10 year % change)19.8 22.4 27.1 21.3 19.0 17.1 15.7 15.9 14.5p14.7pUnit labour cost performance relative to EA (10 year % change)8.4 7.0 7.1 4.3 3.7 1.6 0.9 0.4 0.8 1.7 House price index (2015=100) - nominal (3 year % change)14.5e11.7 2.4 -4.0 -8.0 -10.1 -14.0 -11.6 -1.9 9.9 Residential construction (% of GDP)6.3 6.2 5.6 4.7 4.2 3.5 3.0 3.0 3.5 4.0pPrivate sector debt, non-consolidated (% of GDP) 220.9 222.2 239.9 240.2 242.2 240.5 235.4 234.2 236.0 231.3pFinancial sector leverage, non-consolidated (% debt-to-equity)218.2 219.2 172.7 161.9 152.8 138.5 127.2 126.8 123.1 119.8pFlags:b:Break in series. p:Provisional. 1) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.19 (continued): Auxiliary indicators for Netherlands 

157 

20072008200920102011201220132014201520161 year % change3.0 1.6 -0.9 -0.7 0.9 -0.2 -1.2 -0.1 0.9p1.1p%78.5 79.3 79.7 78.2b78.1b79.0 79.4 79.0 79.6 79.7 %1.2 0.9 0.8 1.2b1.6b1.9 2.5 2.9 3.0 2.5 %9.4 8.6 10.2 11.1 10.0 11.7 13.2 12.7 11.3 10.8 %3.5 3.4 4.1 4.3b4.3 4.9 5.6b5.5 4.7 4.6 3 year change in pp-1.8 -1.9 0.1 0.8b0.9 0.8 1.3b1.2 -0.2 -1.0 %15.7 14.9 15.1 15.1 15.7 15.0 15.9 16.5 16.4 16.7b3 year change in ppna-1.8 -0.9 -0.6 0.8 -0.1 0.8 0.8 1.4 0.8b%10.2 10.5 11.1 10.3 11.0 10.1 10.4 11.6 11.6 12.7b3 year change in pp-0.8 -0.2 1.4 0.1 0.5 -1.0 0.1 0.6 1.5 2.3b%1.7 1.5 1.4 2.2 2.5 2.3 2.5 3.2 2.6 2.6b3 year change in ppna-1.0 -0.9 0.5 1.0 0.9 0.3 0.7 0.3 0.1b%9.7 8.2 8.5 8.4 8.9 8.9 9.3 10.2 10.2 9.7b3 year change in ppna-1.6 -2.4 -1.3 0.7 0.4 0.9 1.3 1.3 0.4bPeople at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatNetherlandsEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.20: Auxiliary indicators for Austria 

158 

Austria2007200820092010201120122013201420152016Real GDP (1 year % change) 3.7 1.5 -3.8 1.8 2.9 0.7 0.0 0.8 1.1 1.5 Gross fixed capital formation (% of GDP)22.9 23.3 22.4 21.6 22.5 22.6 23.0 22.6 22.5 23.1 Gross domestic expenditure on R&D (% of GDP)2.4 2.6e2.6 2.7e2.7 2.9e3.0 3.1e3.1 3.1pCurrent plus capital account (Net lending-borrowing) (% of GDP)3.8 4.4 2.6 2.9 1.5 1.3 1.8 2.4 1.4 2.0 Net external debt (% of GDP)15.4 23.2 20.6 28.0 24.0 25.8 20.1 20.0 19.2 19.5 Foreign direct investment in the reporting economy, flows (% of GDP)17.3 1.5 3.4 -5.4 5.4 1.3 0.1 0.4 -2.3 -7.8 Foreign direct investment in the reporting economy, stocks (% of GDP)74.9 72.7 81.1 74.8 72.8 74.7 75.2 77.8 75.0 66.6 Net trade balance of energy products (% of GDP)-2.8 -3.5 -2.4 -2.9 -3.7 -3.9 -3.5 -3.0 -2.3 -1.9 Real effective exchange rate - Euro Area trading partners (3 year % change)-0.6 -0.7 -0.3 0.1 1.2 1.3 1.6 1.6 2.3 2.4 Export performance against advanced economies (5 year % change)11.5 6.3 1.9 -5.5 -4.5 -12.3 -12.1 -9.7 -7.7 -6.7 Terms of trade (5 year % change)-2.0 -4.0 -1.7 -2.5 -3.1 -3.2 -1.9 -2.8 -0.2 2.1 Export market share in volume (1 year % change)-0.3 -0.7 -4.4 0.5 -1.0 -1.4 -3.2 -0.7 0.0 -0.4 Labour productivity (1 year % change)1.9 -0.4 -3.3 1.1 1.3 -0.4 -0.3 -0.1 0.5 0.2 Nominal unit labour cost index, 2010=100 (10 year % change)6.2 10.0 15.7 15.9 15.6 18.7 20.0 22.4 23.2 24.1 Unit labour cost performance relative to EA (10 year % change)-4.9 -4.5 -3.2 -1.2 -0.4 2.0 3.6 5.4 6.3 4.8 House price index (2015=100) - nominal (3 year % change)14.4e10.1e9.9e11.5be17.3e21.1e19.9 16.8 14.2 17.8 Residential construction (% of GDP)4.3 4.4 4.3 4.3 4.4 4.3 4.3 4.3 4.3 4.2 Private sector debt, non-consolidated (% of GDP) 140.5 142.7 145.3 147.6 145.5 143.7 146.7 142.7 142.3 142.2 Financial sector leverage, non-consolidated (% debt-to-equity)204.6 290.2 237.3 229.2 245.6 220.4 204.9 193.7 183.2 191.0 Flags:e:Estimated. p:Provisional. 1) House price index: e = source NCB.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.20 (continued): Auxiliary indicators for Austria 

159 

20072008200920102011201220132014201520161 year % change1.8 1.9 -0.5 0.8 1.6 1.0 0.3 1.0 0.6 1.2 %73.5b73.9 74.3 74.4 74.6 75.1 75.5 75.4 75.5 76.2 %1.3b1.0 1.2 1.2 1.2 1.2 1.3 1.5 1.7 1.9 %9.4 8.5 10.7 9.5 8.9 9.4 9.7 10.3 10.6 11.2 %7.4b7.4 8.2 7.4 7.3 6.8 7.3 7.7 7.5 7.7 3 year change in pp-1.7b-1.2 0.4 0.0 -0.1 -1.4 -0.1 0.4 0.7 0.4 %16.7 20.6b19.1 18.9 19.2 18.5 18.8 19.2 18.3 18.0 3 year change in pp-1.2 3.2b1.3 2.2 -1.4b-0.6 -0.1 0.0 -0.2 -0.8 %12.0 15.2 14.5 14.7 14.5 14.4 14.4 14.1 13.9 14.1 3 year change in pp-1.0 2.6 1.9 2.7 -0.7 -0.1 -0.3 -0.4 -0.5 -0.3 %3.3 5.9 4.6 4.3 4.0 4.0 4.2 4.0 3.6 3.0 3 year change in pp-0.5 2.4 1.0 1.0 -1.9 -0.6 -0.1 0.0 -0.4 -1.2 %8.2 7.4b7.1 7.8 8.6 7.7 7.8 9.1 8.2 8.1 3 year change in pp1.4 0.1b-1.0 -0.4 1.2b0.6 0.0 0.5 0.5 0.3 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatAustriaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.21: Auxiliary indicators for Poland 

160 

Poland2007200820092010201120122013201420152016Real GDP (1 year % change) 7.0 4.2 2.8 3.6 5.0 1.6 1.4 3.3 3.8 2.9 Gross fixed capital formation (% of GDP)22.5 23.1 21.4 20.3 20.7 19.8 18.8 19.7 20.1 18.1 Gross domestic expenditure on R&D (% of GDP)0.6 0.6 0.7 0.7 0.8 0.9 0.9 0.9 1.0 naCurrent plus capital account (Net lending-borrowing) (% of GDP)-5.3 -5.6 -2.3 -3.6 -3.2 -1.5 1.0 0.4 1.8 0.8 Net external debt (% of GDP)19.7 28.3 30.1 31.1 33.6 34.3 36.1 36.4 34.7 32.1 Foreign direct investment in the reporting economy, flows (% of GDP)5.8 2.7 3.2 3.7 3.4 1.5 0.2 3.6 3.2 3.6 Foreign direct investment in the reporting economy, stocks (% of GDP)38.4 39.7 40.4 48.4 47.3 47.7 50.1 51.5 48.1 50.2 Net trade balance of energy products (% of GDP)-2.6 -3.0 -2.2 -2.6 -3.3 -3.4 -2.7 -2.6 -1.6 -1.4 Real effective exchange rate - Euro Area trading partners (3 year % change)18.9 14.5 -6.2 -0.2 -9.6 7.1 -3.3 -1.7 -1.9 -5.5 Export performance against advanced economies (5 year % change)70.9e68.4e45.8 34.9 25.7 13.6 7.4 12.3 11.2 14.8 Terms of trade (5 year % change)5.5 4.5 4.5 1.7 0.3 -2.6 -0.1 -1.4 2.5 4.9 Export market share in volume (1 year % change)2.1 4.2 4.1 0.5 1.0 1.8 2.3 3.0 4.6 6.5 Labour productivity (1 year % change)2.4 0.4 2.4 6.4b4.4 1.5 1.5 1.5 2.3 2.3pNominal unit labour cost index, 2010=100 (10 year % change)nanana13.7b7.9 13.0 16.8 19.2 17.7 21.1pUnit labour cost performance relative to EA (10 year % change)9.5 3.9 -3.7 -3.3 -7.6 -3.6 0.2 1.7 0.1 2.3 House price index (2015=100) - nominal (3 year % change)nananana-6.4e-7.0e-7.6 -6.8 -2.0 4.4 Residential construction (% of GDP)3.7 3.8 3.4 3.2 3.0 3.2 3.0 3.0 2.5 3.0 Private sector debt, non-consolidated (% of GDP) 56.8 69.7 69.5 72.7 76.6 76.6 78.7 81.7 83.4 86.4 Financial sector leverage, non-consolidated (% debt-to-equity)211.8 407.9 339.9 298.8 363.9 307.1 273.5 284.3 300.9 321.0 Flags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: e = NSI estimates. 2) Unit labour cost for 2010. Since the indicator is 10 year % change the break affects all the following years.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.21 (continued): Auxiliary indicators for Poland 

161 

20072008200920102011201220132014201520161 year % change4.5 3.8 0.4 -2.7b0.6 0.1 -0.1 1.7 1.5 0.6p%63.2 63.8 64.7 65.3b65.7 66.5 67.0 67.9 68.1 68.8 %4.9 2.4 2.5 3.0b3.6 4.1 4.4 3.8 3.0 2.2 %21.6 17.2 20.6i23.7 25.8 26.5 27.3 23.9 20.8 17.7 %10.6 9.0b10.1 10.8b11.5 11.8 12.2b12.0 11.0 10.5 3 year change in pp-4.4 -4.9b-2.5 0.2b2.5 1.7 1.4b0.5 -0.8 -1.7 %34.4 30.5b27.8 27.8 27.2 26.7 25.8 24.7 23.4 21.9 3 year change in ppna-14.8b-11.7 -6.6 -3.3b-1.1 -2.0 -2.5 -3.3 -3.9 %17.3 16.9 17.1 17.6 17.7 17.1 17.3 17.0 17.6 17.3 3 year change in pp1.3 -3.6 -2.0 0.3 0.8 0.0 -0.3 -0.7 0.5 0.0 %22.3 17.7 15.0 14.2 13.0 13.5 11.9 10.4 8.1 6.7 3 year change in ppna-16.1 -12.6 -8.1 -4.7 -1.5 -2.3 -2.6 -5.4 -5.2 %10.1 8.0 6.9 7.3 6.9 6.9 7.2 7.3 6.9 6.4 3 year change in ppna-6.3 -5.5 -2.8 -1.1 0.0 -0.1 0.4 0.0 -0.8 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. p:Provisional. 1) Youth unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatPolandEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.22: Auxiliary indicators for Portugal  

162 

Portugal2007200820092010201120122013201420152016Real GDP (1 year % change) 2.5 0.2 -3.0 1.9 -1.8 -4.0 -1.1 0.9 1.8 1.5pGross fixed capital formation (% of GDP)22.5 22.8 21.1 20.5 18.4 15.8 14.8 15.0 15.5 15.3pGross domestic expenditure on R&D (% of GDP)1.1 1.5b1.6 1.5 1.5 1.4 1.3 1.3 1.2 1.3pCurrent plus capital account (Net lending-borrowing) (% of GDP)-8.6 -10.9 -9.3 -8.8 -4.5 0.3 3.2 1.6 1.3 1.7 Net external debt (% of GDP)64.7 74.6 82.9 81.2 84.5 101.8 99.6 104.4 100.8 94.5 Foreign direct investment in the reporting economy, flows (% of GDP)2.5 3.0 2.3 3.5 4.0 10.1 4.7 5.7 1.2 4.5 Foreign direct investment in the reporting economy, stocks (% of GDP)51.0 47.6 53.6 56.4 54.7 66.7 69.5 74.0 73.5 76.1 Net trade balance of energy products (% of GDP)-3.6 -4.6 -2.8 -3.4 -4.2 -4.7 -3.7 -3.6 -2.3 -1.6pReal effective exchange rate - Euro Area trading partners (3 year % change)0.6 0.0 -1.7 -2.1 -0.5 0.9 0.1 -1.2 -1.0 0.5 Export performance against advanced economies (5 year % change)6.2 -1.1 -0.3 0.7 -0.2 -6.7 -0.3 0.7 4.0 2.8 Terms of trade (5 year % change)-0.5 -2.9 2.3 2.1 -0.5 -0.5 3.7 0.1 4.7 7.8pExport market share in volume (1 year % change)-0.6 -3.2 -0.2 -3.1 0.1 0.6 3.2 0.6 3.0 1.8pLabour productivity (1 year % change)2.5 -0.2 -0.3 3.4 0.1 0.1 1.8 -0.5 0.4 -0.1pNominal unit labour cost index, 2010=100 (10 year % change)30.4 29.1 28.9 22.0 15.1 8.0 6.1 4.5 1.1 2.6pUnit labour cost performance relative to EA (10 year % change)11.8 6.9 3.9 0.5 -3.8 -8.7 -9.1 -10.1 -12.2 -11.2 House price index (2015=100) - nominal (3 year % change)5.8e7.3be4.2e3.6e-5.1 -11.0 -13.3 -4.9 5.4 15.1 Residential construction (% of GDP)5.2 4.7 4.1 3.6 3.3 2.9 2.5 2.5 2.4 2.5pPrivate sector debt, non-consolidated (% of GDP) 196.7 208.2 217.0 215.9 220.0 231.4 220.9 208.1 195.8 185.0pFinancial sector leverage, non-consolidated (% debt-to-equity)216.5 266.0 267.1 296.8 408.7 388.1 364.3 358.3 379.1 394.9 Flags:b:Break in series. p:Provisional. 1) House price index: e = source NCB.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
Table 5.22 (continued): Auxiliary indicators for Portugal   

163 

20072008200920102011201220132014201520161 year % change0.0 0.4 -2.7 -1.4 -1.9 -4.1 -2.9 1.4 1.4 1.6p%73.9 73.9 73.4 73.7 73.6b73.4 73.0 73.2 73.4 73.7 %3.8 3.6 4.2 5.7 6.2b7.7 9.3 8.4 7.2 6.2 %21.4 21.6 25.3 28.2 30.2 38.0 38.1 34.7 32.0 28.2 %11.2 10.2 11.2 11.4 12.6b13.9 14.1 12.3 11.3 10.6 3 year change in pp0.0 -0.9 0.6 0.2 2.4b2.7 2.7 -0.3 -2.6 -3.5 %25.0 26.0 24.9 25.3 24.4 25.3 27.5 27.5 26.6 25.1 3 year change in pp-2.5 -0.1 -0.1 0.3 -1.6 0.4 2.2 3.1 1.3 -2.4 %18.1 18.5 17.9 17.9 18.0 17.9 18.7 19.5 19.5 19.0 3 year change in pp-2.3 -0.9 -0.6 -0.2 -0.5 0.0 0.8 1.5 1.6 0.3 %9.6 9.7 9.1 9.0 8.3 8.6 10.9 10.6 9.6 8.4 3 year change in pp-0.3 0.4 0.0 -0.6 -1.4 -0.5 1.9 2.3 1.0 -2.5 %7.2 6.3 7.0 8.6 8.3 10.1 12.2 12.2 10.9 9.1 3 year change in pp0.3 0.3 0.4 1.4 2.0 3.1 3.6 3.9 0.8 -3.1 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatPortugalEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
Table 5.23: Auxiliary indicators for Romania  

164 

Romania2007200820092010201120122013201420152016Real GDP (1 year % change) 6.9 8.5 -7.1 -0.8 1.1 0.6 3.5 3.1 4.0 4.6pGross fixed capital formation (% of GDP)36.0 38.4 26.0 25.9 27.1 27.3 24.7 24.3 24.7 22.7pGross domestic expenditure on R&D (% of GDP)0.5 0.6 0.5 0.5 0.5b0.5 0.4 0.4 0.5 naCurrent plus capital account (Net lending-borrowing) (% of GDP)-13.2 -11.4 -4.3 -4.9 -4.4 -3.4 1.0 2.0 1.2 0.4 Net external debt (% of GDP)20.4 27.7 33.0 35.7 37.5 38.4 35.8 29.8 27.2 22.5 Foreign direct investment in the reporting economy, flows (% of GDP)5.9 6.5 2.8 2.0 1.3 1.8 2.0 1.9 2.4 3.3 Foreign direct investment in the reporting economy, stocks (% of GDP)36.7 35.9 40.7 41.4 41.4 43.2 42.9 41.9 42.6 44.8 Net trade balance of energy products (% of GDP)-2.6 -2.8 -1.6 -2.2 -2.7 -3.0 -1.9 -1.4 -0.9 -0.9pReal effective exchange rate - Euro Area trading partners (3 year % change)38.9 9.9 -6.5 -9.2 -1.7 3.2 0.6 -1.3 2.4 -2.6 Export performance against advanced economies (5 year % change)102.1 113.6 83.7 65.9 63.7 25.8 22.5 28.8 22.7 20.1 Terms of trade (5 year % change)26.9 28.9 25.5 23.2 18.6 6.6 4.2 4.5 6.0 4.8pExport market share in volume (1 year % change)-0.1 -6.1 4.7 2.6 5.0 -1.8 15.9 4.3 1.5 6.0pLabour productivity (1 year % change)6.5 8.4 -5.2 -0.5 1.9 5.7b4.4 2.3 5.3 5.5pNominal unit labour cost index, 2010=100 (10 year % change)948.0 604.8 420.7 223.4 109.7 117.6b79.3 81.2 43.6 44.0pUnit labour cost performance relative to EA (10 year % change)812.2 492.6 322.1 166.5 74.8 82.4 52.6 54.2 22.7 20.3 House price index (2015=100) - nominal (3 year % change)nananana-38.2e-23.0 -17.0 -7.3 0.5 6.7 Residential construction (% of GDP)2.4 3.1 2.9 2.9 2.7 3.1 2.4 2.4 2.4 2.5pPrivate sector debt, non-consolidated (% of GDP) 106.1 112.9 120.8 74.9 73.9 72.7 67.7 63.1 61.2 57.2pFinancial sector leverage, non-consolidated (% debt-to-equity)510.7 674.2 560.8 530.6 526.1 433.2 432.0 402.1 390.7 406.7 Flags:b:Break in series. p:Provisional. 1) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
Table 5.23 (continued): Auxiliary indicators for Romania   

165 

20072008200920102011201220132014201520161 year % change0.4 0.0 -2.0 -0.3 -0.8 -4.8b-0.9 0.8 -1.3 -0.9p%63.0 62.9 63.1 64.9b64.1 64.8 64.9 65.7 66.1 65.6 %3.2 2.4 2.2 2.4b2.9 3.0 3.2 2.8 3.0 3.0 %19.3 17.6 20.0 22.1 23.9 22.6 23.7 24.0 21.7 20.6 %13.3 11.6 13.9 16.6b17.5 16.8 17.0 17.0 18.1 17.4 3 year change in pp-6.5 -5.2 -0.9 3.3b5.9 2.9 0.4 -0.5 1.3 0.4 %47.0 44.2 43.0 41.5 40.9 43.2 41.9 40.3 37.4 38.8p3 year change in ppnanana-5.5 -3.3 0.2 0.4 -0.6 -5.8 -3.1p%24.6 23.6 22.1 21.6 22.3 22.9 23.0 25.1 25.4 25.3p3 year change in pp7.6 6.6 4.1 -3.0 -1.3 0.8 1.4 2.8 2.5 2.3p%38.0 32.7 32.1 30.5 29.5 31.1 29.8 25.9 22.7 23.8 3 year change in ppnanana-7.5 -3.2 -1.0 -0.7 -3.6 -8.4 -6.0 %9.9 8.5 8.1 7.7 7.3 7.9 7.6 7.2 7.9 8.2 3 year change in ppnanana-2.2 -1.2 -0.2 -0.1 -0.1 0.0 0.6 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. p:Provisional. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatRomaniaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
Table 5.24: Auxiliary indicators for Slovenia   

166 

Slovenia2007200820092010201120122013201420152016Real GDP (1 year % change) 6.9 3.3 -7.8 1.2 0.6 -2.7 -1.1 3.0 2.3 3.1 Gross fixed capital formation (% of GDP)28.8 29.6 24.3 21.3 20.2 19.2 19.8 19.4 18.9 17.6 Gross domestic expenditure on R&D (% of GDP)1.4 1.6b1.8 2.1 2.4b2.6 2.6 2.4 2.2 naCurrent plus capital account (Net lending-borrowing) (% of GDP)-4.3 -5.4 -0.5 0.0 0.0 2.3 4.8 6.0 5.4 4.5 Net external debt (% of GDP)24.2 34.5 40.7 43.9 41.0 45.9 42.6 41.4 35.4 29.0 Foreign direct investment in the reporting economy, flows (% of GDP)2.3 2.0 -0.7 0.6 1.7 0.1 0.2 2.0 4.0 3.2 Foreign direct investment in the reporting economy, stocks (% of GDP)24.0 25.0 26.1 27.0 28.7 29.8 29.1 31.5 34.4 37.1 Net trade balance of energy products (% of GDP)-4.7 -6.2 -3.9 -5.0 -6.2 -6.7 -5.5 -4.1 -3.1 -2.1 Real effective exchange rate - Euro Area trading partners (3 year % change)2.0 3.9 3.9 3.2 0.4 0.3 0.0 0.4 -0.7 -1.6 Export performance against advanced economies (5 year % change)35.7 29.5 18.8 6.4 2.8 -11.5 -12.1 -6.6 -2.8 1.1 Terms of trade (5 year % change)-2.3 -4.1 0.4 -1.6 -2.4 -4.3 -2.3 -4.6 0.7 3.0 Export market share in volume (1 year % change)5.7 1.3 -6.6 -2.4 0.0 -2.2 -0.7 2.0 1.9 4.1 Labour productivity (1 year % change)3.5 0.7 -6.1 3.4 2.4 -1.8 0.0 2.6 1.0 1.2 Nominal unit labour cost index, 2010=100 (10 year % change)55.5 57.5 63.4 53.0 39.2 32.4 27.3 21.5 20.2 20.6 Unit labour cost performance relative to EA (10 year % change)38.9 36.0 35.8 29.3 18.6 12.4 8.9 3.4 2.7 1.7 House price index (2015=100) - nominal (3 year % change)65.2e54.5e19.8e-3.0 -6.9 -4.2 -9.4 -17.6 -10.8 -2.8 Residential construction (% of GDP)4.2 4.6 3.8 3.1 2.8 2.5 2.4 2.2 2.1 2.1 Private sector debt, non-consolidated (% of GDP) 104.0 114.6 124.1 125.3 125.3 124.3 118.4 107.3 95.5 88.1 Financial sector leverage, non-consolidated (% debt-to-equity)447.4 680.5 666.2 654.6 737.8 740.1 594.0 449.2 409.7 399.3 Flags:b:Break in series. 1) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
Table 5.24 (continued): Auxiliary indicators for Slovenia 

167 

20072008200920102011201220132014201520161 year % change3.4 2.6 -1.8 -2.1 -1.7 -0.9 -1.1 0.4 1.2 1.9 %71.3 71.8 71.8 71.5 70.3 70.4 70.5 70.9 71.8 71.6 %2.2 1.9 1.8 3.2 3.6 4.3 5.2 5.3 4.7 4.3 %10.1 10.4 13.6 14.7 15.7 20.6 21.6 20.2 16.3 15.2 %6.7 6.5 7.5 7.1 7.1 9.3 9.2 9.4 9.5 8.0 3 year change in pp-0.8 -2.4 -1.0 0.4 0.6 1.8 2.1 2.3 0.2 -1.2 %17.1 18.5 17.1 18.3 19.3 19.6 20.4 20.4 19.2 18.4 3 year change in ppna0.0 0.0 1.2 0.8 2.5 2.1 1.1 -0.4 -2.0 %11.5 12.3 11.3 12.7 13.6 13.5 14.5 14.5 14.3 13.9 3 year change in pp1.5 0.1 -0.3 1.2 1.3 2.2 1.8 0.9 0.8 -0.6 %5.1 6.7 6.1 5.9 6.1 6.6 6.7 6.6 5.8 5.4 3 year change in ppna1.6 1.0 0.8 -0.6 0.5 0.8 0.5 -0.8 -1.3 %7.3 6.7 5.6 7.0 7.6 7.5 8.0 8.7 7.4 7.4 3 year change in ppna-1.9 -1.3 -0.3 0.9 1.9 1.0 1.1 -0.1 -0.6 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatSloveniaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.25: Auxiliary indicators for Slovakia  

168 

Slovakia2007200820092010201120122013201420152016Real GDP (1 year % change) 10.8 5.6 -5.4 5.0 2.8 1.7 1.5 2.8 3.9 3.3 Gross fixed capital formation (% of GDP)26.8 25.5 21.7 22.1 24.0 21.2 20.7 20.7 23.9 21.2 Gross domestic expenditure on R&D (% of GDP)0.5 0.5 0.5 0.6 0.7 0.8 0.8 0.9 1.2 0.8 Current plus capital account (Net lending-borrowing) (% of GDP)-5.1 -5.3 -2.7 -3.2 -3.7 2.9 3.3 2.1 1.8 0.5 Net external debt (% of GDP)12.9 17.7 22.4 20.6 21.4 22.3 23.9 27.5 28.9 28.4 Foreign direct investment in the reporting economy, flows (% of GDP)6.5 4.9 1.9 2.3 5.6 1.9 1.0 -0.4 1.7 4.0 Foreign direct investment in the reporting economy, stocks (% of GDP)64.2 60.5 64.3 62.5 65.8 64.7 64.8 62.1 63.5 65.6 Net trade balance of energy products (% of GDP)-4.9 -5.9 -4.4 -5.7 -6.4 -5.9 -5.9 -4.3 -3.5 -2.6 Real effective exchange rate - Euro Area trading partners (3 year % change)21.7 26.7 24.7 12.7 4.9 1.9 2.5 0.5 -1.2 -2.0 Export performance against advanced economies (5 year % change)83.9e46.8e18.8 12.4 6.2 0.5 3.3 9.3 6.1 4.3 Terms of trade (5 year % change)-3.3 -4.5 -5.3 -5.7 -5.6 -5.7 -4.6 -3.5 -3.2 -2.2 Export market share in volume (1 year % change)6.7 0.1 -6.8 3.1 5.1 6.5 2.9 0.2 3.3 3.9 Labour productivity (1 year % change)8.5 2.3 -3.5 6.7 1.0 1.6 2.3 1.3 1.8 0.9 Nominal unit labour cost index, 2010=100 (10 year % change)44.4 43.1 46.1 31.7 29.3 25.2 21.1 18.9 16.3 16.1 Unit labour cost performance relative to EA (10 year % change)29.8 24.5 22.4 12.4 11.2 7.2 4.5 2.1 -0.3 -1.7 House price index (2015=100) - nominal (3 year % change)nana32.7 -1.2 -17.5 -8.0 -3.3 -0.4 7.8 14.0 Residential construction (% of GDP)2.5 2.5 3.0 2.6 2.4 2.3 2.7 2.3 2.3 2.4 Private sector debt, non-consolidated (% of GDP) 61.2 66.1 71.1 69.6 73.2 74.9 79.9 85.1 85.9 92.6 Financial sector leverage, non-consolidated (% debt-to-equity)998.4e1148.8e1141.3e986.2e970.3e841.5e745.5e774.2e530.6e571.6eFlags:e:Estimated. (cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
Table 5.25 (continued): Auxiliary indicators for Slovakia   

169 

20072008200920102011201220132014201520161 year % change2.1 3.2 -2.0 -1.5 1.8 0.1 -0.8 1.4 2.0 2.4 %68.3 68.8 68.4 68.7 68.7b69.4 69.9 70.3 70.9 71.9 %8.3 6.6 6.5 9.2 9.2b9.4 10.0 9.3 7.6 5.8 %20.6 19.3 27.6 33.9 33.7i34.0 33.7 29.7 26.5 22.2 %12.5 11.1 12.5 14.1 13.8b13.8 13.7 12.8 13.7 12.3 3 year change in pp-5.4 -4.7 -1.9 1.6 2.7b1.3 -0.4 -1.0 -0.1 -1.4 %21.4 20.6 19.6 20.6 20.6 20.5 19.8 18.4 18.4 18.1 3 year change in ppna-11.4 -7.1 -0.8 0.0 0.9 -0.8 -2.2 -2.1 -1.7 %10.6 10.9 11.0 12.0 13.0 13.2 12.8 12.6 12.3 12.7 3 year change in ppna-2.4 -0.6 1.4 2.1 2.2 0.8 -0.4 -0.9 -0.1 %13.7 11.8 11.1 11.4 10.6 10.5 10.2 9.9 9.0 8.2 3 year change in ppna-10.3 -7.1 -2.3 -1.2 -0.6 -1.2 -0.7 -1.5 -2.0 %6.4 5.2 5.6 7.9 7.7 7.2 7.6 7.1 7.1 6.5 3 year change in ppna-1.4 -0.6 1.5 2.5 1.6 -0.3 -0.6 -0.1 -1.1 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. 1) Youth unemployment rate: i = Eurostat back-calculation to include 2011 Population Census results.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatSlovakiaEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
Table 5.26: Auxiliary indicators for Finland   

170 

Finland2007200820092010201120122013201420152016Real GDP (1 year % change) 5.2 0.7 -8.3 3.0 2.6 -1.4 -0.8 -0.6 0.0 1.9 Gross fixed capital formation (% of GDP)24.2 24.4 22.8 21.9 22.2 22.3 21.2 20.6 20.4 21.5 Gross domestic expenditure on R&D (% of GDP)3.4 3.6 3.8 3.7 3.6 3.4 3.3 3.2 2.9 2.8 Current plus capital account (Net lending-borrowing) (% of GDP)3.9 2.3 2.0 1.3 -1.7 -1.8 -1.5 -1.2 -1.0 -1.3 Net external debt (% of GDP)-0.2 8.9 20.9 24.8 29.1 39.7 40.3 47.8 49.6 51.8 Foreign direct investment in the reporting economy, flows (% of GDP)8.5 7.0 -3.3 4.9 -2.2 1.9 -1.9 6.3 6.4 -1.8 Foreign direct investment in the reporting economy, stocks (% of GDP)46.4 50.9 50.7 54.7 50.6 52.0 46.8 52.4 57.3 49.9 Net trade balance of energy products (% of GDP)-2.5 -3.3 -2.4 -2.8 -3.7 -2.6 -2.6 -2.4 -1.8 -1.4 Real effective exchange rate - Euro Area trading partners (3 year % change)-3.0 -1.3 0.8 1.9 2.1 1.6 1.9 2.0 1.1 0.5 Export performance against advanced economies (5 year % change)4.7 6.5 -5.6 -12.9 -16.7 -23.1 -26.0 -21.1 -20.0 -16.5 Terms of trade (5 year % change)-9.7 -10.2 -7.1 -5.8 -4.3 -5.2 -2.7 -2.7 2.7 5.4 Export market share in volume (1 year % change)1.2 3.7 -10.1 -6.4 -4.9 -1.6 -2.7 -6.4 -2.3 -1.0 Labour productivity (1 year % change)3.0 -1.5 -6.0 3.7 1.3 -2.3 0.0 -0.2 0.1 1.4 Nominal unit labour cost index, 2010=100 (10 year % change)11.6 16.7 24.8 22.4 22.2 27.1 28.5 29.6 28.4 26.4 Unit labour cost performance relative to EA (10 year % change)-2.8 -1.6 1.9 2.3 3.2 7.2 9.3 10.1 9.5 8.1 House price index (2015=100) - nominal (3 year % change)22.5e14.2p8.3p8.7p11.3p12.3 6.9 3.2 0.8 0.3 Residential construction (% of GDP)6.5 5.9 5.2 6.1 6.3 6.3 6.0 5.5 5.6 6.1 Private sector debt, non-consolidated (% of GDP) 145.2 156.6 165.9 170.0 169.2 172.6 177.1 183.5 191.0 176.4 Financial sector leverage, non-consolidated (% debt-to-equity)251.8 451.4 372.0 408.4 619.8 518.9 364.5 365.2 303.1 293.1 Flags: p:Provisional. 1) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
Table 5.26 (continued): Auxiliary indicators for Finland 

171 

20072008200920102011201220132014201520161 year % change2.1 2.2 -2.4 -0.7 1.3 0.9 -0.7 -0.5 -0.1 0.5 %75.6 76.0 75.0 74.5 74.9 75.2 75.2 75.4 75.8 75.9 %1.5 1.2 1.4 2.0 1.7 1.6 1.7 1.9 2.3 2.3 %16.5 16.5 21.5 21.4 20.1 19.0 19.9 20.5 22.4 20.1 %7.0 7.8 9.9 9.0 8.4 8.6 9.3 10.2 10.6 9.9 3 year change in pp-2.1 0.0 2.2 2.0 0.6 -1.3 0.3 1.8 2.0 0.6 %17.4 17.4 16.9 16.9 17.9 17.2 16.0 17.3 16.8 16.6 3 year change in pp0.2 0.2 -0.2 -0.5 0.5 0.3 -0.9 -0.6 -0.4 0.6 %13.0 13.6 13.8 13.1 13.7 13.2 11.8 12.8 12.4 11.6 3 year change in pp2.0 1.9 1.2 0.1 0.1 -0.6 -1.3 -0.9 -0.8 -0.2 %3.6 3.5 2.8 2.8 3.2 2.9 2.5 2.8 2.2 2.2 3 year change in pp-0.2 -0.3 -0.5 -0.8 -0.3 0.1 -0.3 -0.4 -0.7 -0.3 %8.8 7.5 8.4 9.3 10.0 9.3 9.0 10.0 10.8 11.4 3 year change in pp-0.7 -2.5 -0.7 0.5 2.5 0.9 -0.3 0.0 1.5 2.4 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatFinlandEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.27: Auxiliary indicators for Sweden   

172 

Sweden2007200820092010201120122013201420152016Real GDP (1 year % change) 3.4 -0.6 -5.2 6.0 2.7 -0.3 1.2 2.6 4.5 3.3 Gross fixed capital formation (% of GDP)23.9 24.3 22.3 22.3 22.7 22.6 22.3 23.1 23.6 24.0 Gross domestic expenditure on R&D (% of GDP)3.3 3.5e3.5 3.2e3.3 3.3e3.3e3.2e3.3 3.3pCurrent plus capital account (Net lending-borrowing) (% of GDP)8.1 7.7 5.9 5.8 5.3 5.4 5.0 4.5 4.5 4.4 Net external debt (% of GDP)45.1 66.2 72.0 61.8 62.0 58.9 55.8 55.7 47.5 45.6 Foreign direct investment in the reporting economy, flows (% of GDP)9.4 8.3 2.1 0.2 1.1 0.8 0.3 -1.7 1.7 2.9 Foreign direct investment in the reporting economy, stocks (% of GDP)81.3 91.5 100.9 92.9 91.3 90.9 90.1 84.0 82.8 80.3 Net trade balance of energy products (% of GDP)-1.6 -1.9 -1.2 -1.6 -1.8 -1.7 -1.5 -1.3 -0.9 -0.8 Real effective exchange rate - Euro Area trading partners (3 year % change)-3.6 -4.6 -12.1 -1.2 7.1 19.1 6.0 -3.7 -7.8 -7.7 Export performance against advanced economies (5 year % change)11.2 3.7 -8.8 -5.6 -4.1 -9.9 -10.8 -3.1 -7.8 -10.5 Terms of trade (5 year % change)-1.8 -2.3 -0.2 1.2 0.6 -0.7 0.0 -0.8 0.6 1.8 Export market share in volume (1 year % change)-3.4 -0.9 -4.5 -0.7 -0.8 -1.8 -4.6 1.6 2.6 1.0 Labour productivity (1 year % change)1.1 -1.4 -2.8 5.0 0.5 -1.0 0.3 1.2 3.0 1.6 Nominal unit labour cost index, 2010=100 (10 year % change)13.0 23.8 29.0 20.3 17.8 21.2 22.4 24.7 23.7 25.0 Unit labour cost performance relative to EA (10 year % change)-0.9 5.1 5.7 0.8 -0.3 2.3 4.1 5.6 7.0 8.4 House price index (2015=100) - nominal (3 year % change)38.8e27.9 17.1 12.4 14.0 12.0 9.4 16.7 30.5 34.4 Residential construction (% of GDP)4.3 3.9 3.3 3.6 3.9 3.4 3.5 4.0 4.6 5.1 Private sector debt, non-consolidated (% of GDP) 190.9 217.9 235.3 222.0 226.4 228.8 232.5 234.2 234.4 231.6 Financial sector leverage, non-consolidated (% debt-to-equity)219.0 372.5 278.0 237.1 267.7 238.3 207.0 193.6 186.5 185.3 Flags:e:Estimated. p:Provisional. 1) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
Table 5.27 (continued): Auxiliary indicators for Sweden 

173 

20072008200920102011201220132014201520161 year % change2.3 0.9 -2.4 1.0 2.1 0.7 1.0 1.4 1.5 1.7 %79.1 79.3 78.9 79.1 79.9 80.3 81.1 81.5 81.7 82.1 %0.8 0.8 1.1 1.6 1.5 1.5 1.4 1.4 1.5 1.3 %19.2 20.2 25.0 24.8 22.8 23.7 23.6 22.9 20.4 18.9 %7.5b7.8b9.6 7.7 7.5 7.8 7.5 7.2 6.7 6.5 3 year change in pp-0.1b-2.7b0.3 0.2 -0.3 -1.8 -0.2 -0.3 -1.1 -1.0 %13.9 14.9 15.9 15.0 16.1 15.6 16.4 16.9 18.6b18.3 3 year change in pp-3.0 0.5 -0.4 1.1 1.2 -0.3 1.4 0.8 3.0b1.9 %10.5 12.2 13.3 12.9 14.0 14.1 14.8 15.1 16.3b16.2 3 year change in pp-0.8 2.7 1.0 2.4 1.8 0.8 1.9 1.1 2.2b1.4 %2.2 1.4 1.6 1.3 1.2 1.3 1.4 0.7 1.1b0.8 3 year change in pp-0.8 -0.9 -0.5 -0.9 -0.2 -0.3 0.1 -0.5 -0.2b-0.6 %6.0 5.5 6.4 6.0 6.9 5.7 7.1 6.4 8.7b8.5 3 year change in pp-2.7 -2.1 -0.4 0.0 1.4 -0.7 1.1 -0.5 3.0b1.4 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series.(cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatSwedenEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.28: Auxiliary indicators for United Kingdom 

174 

United Kingdom2007200820092010201120122013201420152016Real GDP (1 year % change) 2.4 -0.5 -4.2 1.7 1.5 1.5 2.1 3.1 2.3 1.8 Gross fixed capital formation (% of GDP)17.7 17.0 15.3 15.3 15.4 15.6 15.8 16.4 16.6 16.4 Gross domestic expenditure on R&D (% of GDP)1.6 1.6e1.7e1.7e1.7b1.6e1.7 1.7e1.7 naCurrent plus capital account (Net lending-borrowing) (% of GDP)-3.8 -4.6 -3.9 -3.8 -2.4 -4.3 -5.6 -5.4 -5.3 -6.0 Net external debt (% of GDP)nanananananananananaForeign direct investment in the reporting economy, flows (% of GDP)6.8 9.1 0.4 2.7 1.0 1.8 2.0 2.0 1.8 11.2 Foreign direct investment in the reporting economy, stocks (% of GDP)51.3 60.1 57.6 60.0 60.8 74.2 72.2 72.1 67.5 74.5 Net trade balance of energy products (% of GDP)-0.4 -0.7 -0.4 -0.4 -1.0 -1.2 -1.1 -0.8 -0.6 -0.5 Real effective exchange rate - Euro Area trading partners (3 year % change)-0.6 -13.5 -21.6 -16.9 -3.0 14.4 4.3 10.2 14.0 5.1 Export performance against advanced economies (5 year % change)-6.7 -13.9 -13.2 -17.4 -19.0 -11.8 -5.6 -2.8 3.7 -2.9 Terms of trade (5 year % change)0.3 -4.0 -4.0 -1.5 -2.2 -0.6 4.5 5.0 4.3 7.3 Export market share in volume (1 year % change)-9.4 -2.3 1.3 -6.7 -0.7 -2.6 -3.0 -1.0 1.9 -1.2 Labour productivity (1 year % change)1.5 -1.3 -2.6 1.4 0.9 0.4 0.9 0.7 0.6 0.4 Nominal unit labour cost index, 2010=100 (10 year % change)35.7 32.7 35.1 33.3 28.2 28.8 28.1 23.6 22.4 20.4 Unit labour cost performance relative to EA (10 year % change)16.8 10.7 9.6 10.8 8.0 8.7 8.9 5.2 5.9 2.9 House price index (2015=100) - nominal (3 year % change)32.4e13.2 -4.4 -8.0 -5.1 4.6 1.5 11.2 17.4 22.4 Residential construction (% of GDP)3.8 3.6 3.0 3.1 3.2 3.1 3.2 3.5 3.6 3.6 Private sector debt, non-consolidated (% of GDP) 188.0 196.9 195.8 189.9 183.6 184.0 176.4 167.3 164.8 168.2 Financial sector leverage, non-consolidated (% debt-to-equity)885.2 1778.4 1010.2 963.9 1144.3 951.6 781.8 746.6 645.7 686.6 Flags:b:Break in series. e:Estimated. 1) House price index: e = NSI estimates.(cid:9)(cid:9)(cid:9)      Source: Eurostat, Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate) and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
Table 5.28 (continued): Auxiliary indicators for United Kingdom  

175 

20072008200920102011201220132014201520161 year % change0.8 0.8 -1.6 0.2 0.5 1.1 1.2 2.4 1.7 1.4 %75.5b75.8b75.7 75.4 75.5 76.1 76.4 76.7 76.9 77.3 %1.3 1.4 1.9 2.5 2.7 2.7 2.7 2.2 1.6 1.3 %14.3 15.0 19.1 19.9 21.3 21.2 20.7 17.0 14.6 13.0 %11.9b12.1b13.2 13.6 14.2 13.9 13.2 11.9 11.1 10.9 3 year change in pp3.5b3.7b4.6 1.7 2.1 0.7 -0.4 -2.3 -2.8 -2.3 %22.6 23.2 22.0 23.2 22.7 24.1b24.8 24.1 23.5 22.2 3 year change in ppna-1.6 -1.7 0.6 -0.5 2.1b1.6 1.4 -0.6b-2.6 %18.6 18.7 17.3 17.1 16.2 16.0 15.9 16.8 16.6 15.9 3 year change in pp0.6 -0.3 -1.7 -1.5 -2.5 -1.3 -1.2 0.6 0.6 0.0 %4.2 4.5 3.3u4.8 5.1 7.8 8.3 7.4 6.1 5.2 3 year change in ppna-0.8 -1.2u0.6 0.6 4.5u3.5 2.3 -1.7 -3.1 %10.4 10.4 12.7 13.2 11.5 13.0b13.2 12.3 11.9 11.3 3 year change in ppna-2.5 0.7 2.8 1.1 0.3b0.0 0.8 -1.1b-1.9 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSevere material deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59Flags:b:Break in series. u:Low reliability. (cid:9)(cid:9)(cid:9)      Source: European Commission, EurostatUnited KingdomEmployment rateActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
Chapter 6: Tables by year - MIP Scoreboard (base indicators) 

Table 6.1: MIP Scoreboard (base indicators) 2016 

176 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE0.1 51.2 2.8 7.9 -0.1 1.0p13.3 190.1 105.7 7.8 1.2 67.6 4.0 20.1 BG5.3 -47.0 -0.4 8.0 2.3p7.1p4.0 104.9 29.0 7.6 11.1 68.7 4.5 17.2 CZ1.1 -24.6 2.4 4.6 3.3 6.7p4.4 68.7 36.8 4.0 14.5 75.0 1.7 10.5 DK7.3 54.8 1.2 -0.2 1.4 4.2 -10.4 210.7 37.7 6.2 3.3 80.0b1.4b12.0 DE8.3 54.4 1.6 3.3 1.6 5.4 3.8 99.3 68.1 4.1 5.2 77.9 1.7 7.1 EE1.9 -37.1 1.6 5.9 4.0 3.8 5.9 115.4 9.4 6.8 7.2 77.5 2.1 13.4 IE3.9 -176.2 1.3 2.6 -0.2 6.6p-19.0 278.1 72.8 7.9 2.5 70.5 4.2 17.2 EL-1.1 -139.4 1.3 -4.6 -0.2p-2.0e-1.7p124.7p180.8 23.6 -16.6 68.2 17.0 47.3 ES1.9 -83.9 0.6 5.0 -0.7p4.7 -1.0p146.7p99.0 19.6 0.9 74.2 9.5 44.4 FR-0.9 -15.7 1.2 0.7 0.4p1.0 6.2p146.9p96.5 10.1 4.3 71.4 4.6 24.6 HR2.4 -70.1 1.1 7.8 -2.7d2.1 -0.1e106.1e82.9 13.4 2.5 65.6 6.6 31.8 IT2.7 -9.8 0.8 3.0 1.0 -0.8p0.6 113.6 132.0 11.7 3.2 64.9 6.7 37.8 CY-4.9 -127.8 0.7 4.7 -0.7p1.6 10.2p344.6p107.1 13.0 0.7 73.4 5.8 29.1 LV1.4 -58.9 1.2 3.5 4.3 7.4 0.3 88.3 40.6 9.6 5.8 76.3 4.0 17.3 LT-1.1 -43.2 2.0 3.2 5.9 4.5 4.3 56.2 40.1 7.9 16.3 75.5 3.0 14.5 LU4.8 34.7 0.6 0.1 0.7 5.9 1.5 343.6 20.8 6.3 7.5 70.0 2.2 19.1 HU6.1 -65.0 0.8 3.6 4.4 13.6 -3.6 77.0 73.9 5.1 19.5 70.1 2.4 12.9 MT6.6 47.6 1.6 6.2 0.9 4.8p11.1 128.4 57.6 4.7 1.7 69.1 1.9 11.0 NL9.0 69.1 1.1 3.2 0.4p4.4 1.5p221.5p61.8 6.0 5.3p79.7 2.5 10.8 AT2.1 5.6 1.6 2.9 2.1 7.2 3.2 124.0 83.6 6.0 -2.4 76.2 1.9 11.2 PL-0.3 -60.7 -3.5 6.2 2.1p2.5 4.7 81.6 54.1 6.2 8.9 68.8 2.2 17.7 PT0.7 -104.7 1.5 3.5 2.2p6.1 -2.2p171.4p130.1 11.2 -0.2 73.7 6.2 28.2 RO-2.1 -49.9 -1.3 8.5 5.0p6.5 0.6p55.8p37.6 5.9 7.6 65.6 3.0 20.6 SI5.2 -36.9 0.4 6.7 1.6 3.6 -0.8 80.5 78.5 8.0 3.2 71.6 4.3 15.2 SK-1.5 -62.4 0.5 5.6 1.4 7.0 9.2 94.7 51.8 9.7 8.5 71.9 5.8 22.2 FI-1.4 -2.3 1.3 1.9 -0.4 -0.3 2.2 149.3 63.1 8.8 4.5 75.9 2.3 20.1 SE4.5 11.2 0.7 1.1 1.2 7.6 7.6 188.5 42.2 6.9 9.0 82.1 1.3 18.9 UK-5.9 -1.1 -10.9 -4.7 2.8 5.5 8.2 168.1 88.3 4.8 11.6 77.3 1.3 13.0 Employment indicatorsFlags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=sourceNCBforEL.3)NULCforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.4)Privatesectordebt,privatesectorcreditflow:thedeclineforIErelativeto2015predominantlyreflectsrestructuringandre-domicilingactivities of large multinational companies.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Year2016External imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
 
 
 
 
Table 6.2: MIP Scoreboard (base indicators) 2015 

177 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE-0.1 47.2 -3.3 -5.4 -0.5 1.4p12.2 178.9 106.0 8.5 2.7 67.6 4.4 22.1 BG0.0 -61.2 -3.5 -2.1 2.3p1.6bp-0.3 110.5 26.0 9.2 6.2 69.3 5.6 21.6 CZ0.2 -32.9 -0.8 -1.0 -0.8 3.8p0.3 68.1 40.0 5.1 8.1 74.0 2.4 12.6 DK8.8 34.3 -3.3 -2.0 1.1 6.3 -6.2 207.6 39.5 6.2 -1.0 78.5 1.7 10.8 DE8.5 48.6 -4.9 0.0 1.8 4.1 3.0 98.7 70.9 4.6 2.9 77.6 2.0 7.2 EE2.0 -39.8 0.1 -7.8 4.5 7.1 3.0 115.2 10.0 6.2 8.7 76.7 2.4 13.1 IE10.9 -195.1 -7.1 39.8 -16.6 11.0p-3.1 306.5 76.9 9.4 9.7 70.0 5.3 20.9 EL-0.2 -136.3 -4.4 -14.3 -1.3p-3.5e-3.3p126.1p176.8 24.9 15.6 67.8 18.2 49.8 ES1.1 -89.7 -4.5 -1.3 1.4p3.7 -1.8p154.6p99.4 22.1 -1.3 74.3 11.4 48.3 FR-0.2 -15.7 -4.6 -1.1 0.0p-1.8 4.9p143.7p95.8 10.4 1.7 71.3 4.6 24.7 HR4.4 -76.5 -1.4 2.7 -0.7d-2.4 -1.4 113.2 85.4 16.1 2.1 66.9 10.2 42.3 IT1.5 -19.7 -4.4 -2.1 0.7 -2.7p-1.3 115.3 131.5 11.9 1.5 64.0 6.9 40.3 CY-1.5 -145.0 -6.4 -1.5 -1.7 0.3bp4.1 353.5 107.5 15.0 11.1 73.9 6.8 32.8 LV-0.5 -63.8 0.7 -3.7 6.2 -2.4 0.7 88.8 36.9 9.9 12.2 75.7 4.5 16.3 LT-2.8 -43.9 0.4 -10.0 5.0 4.6 1.9 54.7 42.6 9.1 7.0 74.1 3.9 16.3 LU5.1 37.7 -2.6 2.4 2.8 5.3 47.0 348.6 22.0 6.5 12.2 70.9b1.9b16.6 HU3.4 -67.8 -2.3 1.5 -2.4 13.3 -2.6 84.3 74.7 6.8 0.6 68.6 3.1 17.3 MT4.6 52.2 -4.7 -0.6 0.2 5.1 2.8 125.8 60.3 5.4 1.3 67.6 2.4 11.8 NL8.7 55.1 -3.3 -2.0 -1.6p3.4 -0.8p225.1 64.6 6.9 3.6 79.6 3.0 11.3 AT1.9 2.5 -2.3 -3.7 1.6 3.4 2.3 123.9 84.3 5.7 -0.1 75.5 1.7 10.6 PL-0.6 -62.1 -2.5 2.4 -0.6 2.6 3.5 78.9 51.1 7.5 2.4 68.1 3.0 20.8 PT0.1 -112.0 -2.8 -1.0 0.0 2.1 -1.8 179.7 128.8 12.6 -1.8 73.4 7.2 32.0 RO-1.2 -54.6 -2.5 -0.2 -3.3 1.9 0.2 59.1 37.9 6.8 4.0 66.1 3.0 21.7 SI4.4 -39.8 -2.0 -1.4 0.4 1.4 -5.0 86.9 82.6 9.0 -3.7 71.8 4.7 16.3 SK-1.8 -64.6 -2.2 -2.6 1.6 5.5 7.7 88.1 52.3 11.5 10.8 70.9 7.6 26.5 FI-1.0 -6.1 -3.1 -6.1 1.3 -0.3 6.9 152.9 63.6 9.4 1.2 75.8 2.3 22.4 SE4.7 4.6 -5.4 -1.3 -0.3 12.1 7.5 188.4 44.2 7.4 2.4 81.7 1.5 20.4 UK-5.2 -18.4 5.0 4.1 0.4 5.3 3.5 164.7 88.2 5.3 -8.8 76.9 1.6 14.6 Year2015External imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:b:Break in series. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)NULCforHRd:employment data use national concept instead of domestic concept. 5) Private sector debt, private sector credit flow: significant increases for IE due to re-domiciling of large multinational corporations and movement of large parts of their balance sheets. (cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
Table 6.3: MIP Scoreboard (base indicators) 2014 

178 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE-0.9 45.1 0.2 0.5 0.0 -1.3 -1.9 166.0 106.8 8.5 2.7 67.7 4.3 23.2 BG0.1 -75.2 -0.9 0.6 4.6p1.5p-1.1 123.6 27.0 11.4 5.6 69.0 6.9 23.8 CZ0.2 -36.6 -5.2 4.8 0.4 1.8 1.7 71.5 42.2 6.1 5.2 73.5 2.7 15.9 DK8.9 43.4 0.8 0.5 0.8 2.9 0.0 214.7 44.0 6.6 7.3 78.1 1.7 12.6 DE7.4 40.9 0.8 2.4 1.7 2.2 0.5 99.4 74.6 5.0 4.5 77.7 2.2 7.7 EE0.3 -46.9 2.7 0.5 4.3 13.0 5.7 118.0 10.7 7.4 13.1 75.2 3.3 15.0 IE1.6 -161.0 -0.8 12.9 -4.4 15.1p2.5 279.4 104.5 11.3 19.5 69.8 6.6 23.9 EL-1.6 -131.9 -0.7 3.4 -1.8p-5.0e-2.7p128.0p179.0 26.5 -8.4 67.4 19.5 52.4 ES1.1 -97.8 -0.5 0.9 -0.3 0.1 -7.0 165.5 100.4 24.5 -0.4 74.2 12.9 53.2 FR-1.1 -15.6 0.3 0.6 0.9 -1.7 3.3 141.9 95.0 10.3 5.3 71.1 4.5 24.2 HR2.0 -85.4 0.4 3.1 -2.6d-1.1 0.1 118.1 85.8 17.2 0.2 66.1 10.1 44.9 IT1.9 -21.2 0.2 0.8 0.1 -4.6p-0.5 119.0 131.8 12.7 0.5 63.9 7.7 42.7 CY-4.3 -147.0 -0.8 0.9 -4.0 -1.3p-0.3 352.5 107.5 16.1 -3.7 74.3 7.7 36.0 LV-1.7 -65.9 2.9 2.8 5.1 4.3 -11.8 96.0 40.9 10.8 10.4 74.6 4.6 19.6 LT3.2 -45.1 2.9 -1.1 3.2 6.3 0.3 53.9 40.5 10.7 16.2 73.7 4.8 19.3 LU5.2 31.9 0.5 10.3 -0.9 3.9 24.7 313.0 22.7 6.0 33.1 70.8 1.6 22.3 HU1.5 -80.3 -3.6 4.2 1.4 3.3 -0.1 91.2 75.2 7.7 8.6 67.0 3.7 20.4 MT8.8 43.3 0.6 3.0 -1.2 2.5 3.9 135.9 63.8 5.8 6.4 66.3 2.7 11.7 NL8.6 48.7 -0.1 0.5 0.1 0.0 -1.8 225.7 68.0 7.4 7.7 79.0 2.9 12.7 AT2.5 3.4 1.7 1.4 2.0 1.4 0.9 124.9 83.8 5.6 -0.8 75.4 1.5 10.3 PL-2.1 -69.1 1.0 5.1 0.6 1.2 4.6 78.1 50.2 9.0 0.7 67.9 3.8 23.9 PT0.1 -117.5 -0.5 1.3 -1.3 3.9 -5.0 190.8 130.6 14.1 -7.5 73.2 8.4 34.7 RO-0.7 -57.3 1.3 6.2 4.3 -3.2 -2.4 62.1 39.4 6.8 1.3 65.7 2.8 24.0 SI5.8 -45.8 1.1 3.7 -1.2 -6.5 -4.7 97.4 80.3 9.7 -0.2 70.9 5.3 20.2 SK1.1 -63.6 0.2 -1.6 0.5 1.5 5.1 87.8 53.5 13.2 8.7 70.3 9.3 29.7 FI-1.3 -3.2 2.5 -4.7 1.1 -1.6 1.5 149.6 60.2 8.7 8.9 75.4 1.9 20.5 SE4.6 1.2 -4.6 -0.3 1.0 8.3 4.8 193.9 45.5 7.9 13.0 81.5 1.4 22.9 UK-5.3 -22.3 7.1 3.4 -0.1 6.0 6.8 166.8 87.4 6.1 4.7 76.7 2.2 17.0 Year2014External imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)Privatesectordebt,private sector credit flow: due to improved sources and methods, there are significant revisions in the time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014. 5) NULC for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series) 
 
 
 
 
 
 
 
 
 
Table 6.4: MIP Scoreboard (base indicators) 2013 

179 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE-0.3 51.9 1.5 1.4 2.0 0.4 7.4 165.4 105.5 8.4 0.9 67.5 3.9 23.7 BG1.3 -73.3 0.1 6.5 7.4p0.4p7.2 131.9 17.0 13.0 4.3 68.4 7.4 28.4 CZ-0.5 -41.4 -2.2 -1.4 0.5 -0.8 4.4 73.7 44.9 7.0 11.4 72.9 3.0 18.9 DK7.8 37.2 1.0 2.2 0.6 3.1 -3.1 216.1 44.0 7.0 1.8 78.1 1.8 13.0 DE6.7 34.5 2.2 1.6 1.9 2.1 2.0 102.9 77.4 5.2 -6.2 77.6 2.3 7.8 EE0.5 -50.1 2.9 3.7 4.1 7.5 3.5 115.9 10.2 8.6 10.4 75.1 3.8 18.7 IE2.1 -131.6 1.6 2.1 1.1 -0.5p-1.4 267.1 119.4 13.1 0.3 69.8 7.8 26.8 EL-2.0 -130.4 -0.6 0.6 -6.9p-9.2e-6.4p129.1p177.4 27.5 -17.2 67.5 18.5 58.3 ES1.5 -95.2 1.9 3.7 -0.6 -10.0 -10.3 176.9 95.5 26.1 -10.9 74.3 13.0 55.5 FR-0.9 -16.6 1.6 1.9 1.2 -2.6 2.1 137.7 92.4 10.3 0.4 70.7 4.4e24.9 HR1.0 -88.5 1.2 2.5 -2.9d-5.8 -0.6 117.9 81.7 17.4 3.2 63.7 11.0 49.9 IT1.0 -22.7 1.9 0.5 0.7 -6.9p-3.0 121.6 129.0 12.1 -2.6 63.4 6.9 40.0 CY-4.9 -138.7 1.1 2.3 -5.3 -4.1p-13.3 340.1 102.6 15.9 -15.3 73.6 6.1 38.9 LV-2.7 -66.3 -0.9 2.4 5.2 6.5 0.9 92.4 39.0 11.9 5.2 74.0 5.7 23.2 LT0.8 -47.0 0.9 8.2 3.2 0.2 -1.3 56.3 38.8 11.8 -1.4 72.4 5.1 21.9 LU5.5 51.5 1.6 10.9 0.5 3.3 27.3 305.0 23.7 5.9 10.4 69.9 1.8 16.9 HU3.8 -83.1 -1.4 1.7 0.8 -4.3 -0.9 95.1 76.0 10.2 -1.2 64.7 4.9 26.6 MT2.7 27.0 1.5 1.2 1.2 -1.6 2.7 143.9 68.4 6.4 1.6 65.0 2.9 13.0 NL9.9 31.0 2.7 1.4 1.1 -8.2 1.5 223.4 67.8 7.3 -1.1 79.4 2.5 13.2 AT1.9 1.3 2.1 1.7 2.5 3.0 1.0 127.1 81.0 5.4 -3.2 75.5 1.3 9.7 PL-1.3 -68.9 0.2 5.8 0.2 -4.8 3.3 75.4 55.7 10.3 7.4 67.0 4.4 27.3 PT1.6 -116.3 0.3 6.8 1.8 -2.7 -1.6 202.4 129.0 16.4 -5.4 73.0 9.3 38.1 RO-1.1 -62.6 4.0 15.5 -0.6 -2.8 -1.4 66.6 37.8 7.1 0.8 64.9 3.2 23.7 SI4.4 -47.2 1.4 2.6 0.5 -7.2 -4.0 107.2 70.4 10.1 -10.3 70.5 5.2 21.6 SK1.9 -62.3 0.9 5.0 0.3 -0.4 5.2 82.9 54.7 14.2 1.7 69.9 10.0 33.7 FI-1.6 3.9 2.9 0.1 1.4 -1.3 2.8 147.7 56.5 8.2 -11.7 75.2 1.7 19.9 SE5.3 -12.5 1.7 -1.6 1.7 4.7 4.5 194.5 40.8 8.0 9.0 81.1 1.4 23.6 UK-5.5 -18.5 -1.5 -0.8 1.9 0.3 6.9 173.7 85.6 7.5 -7.7 76.4 2.7 20.7 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)Privatesectordebt,private sector credit flow: due to improved sources and methods, there are significant revisions in the time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014. 5) NULC for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Year2013External imbalances and competitivenessInternal imbalancesEmployment indicatorsFlags:e:Estimated. p:Provisional.  
 
 
 
 
 
 
 
 
 
Table 6.5: MIP Scoreboard (base indicators) 2012 

180 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE-0.1 51.8 -2.3 -6.1 3.4 0.3 15.3 185.5 104.3 7.6 -5.2 66.9 3.4 19.8 BG-0.9 -77.9 -2.1 -4.5 5.0p-5.3p3.0 125.0 16.7 12.3 10.2 67.1 6.8 28.1 CZ-1.6 -45.9 -2.8 -3.8 3.0 -3.6 2.9 70.7 44.5 7.0 5.2 71.6 3.0 19.5 DK6.3 36.1 -2.9 -4.8 0.9 -4.9 7.9 224.0 44.9 7.5 2.5 78.6 2.1 14.1 DE7.0 28.5 -3.4 -4.4 3.2 1.9 1.3 101.8 79.8 5.4 3.3 77.2 2.4 8.0 EE-1.9 -51.1 -0.9 -2.3 5.0 3.2 6.8 117.8 9.7 10.0 10.4 74.8 5.5 20.9 IE-2.6 -137.4 -4.4 -3.3 -0.3 -14.8p-0.6 279.1 119.6 14.7 -1.8 69.2 9.0 30.4 EL-3.8 -115.9 -4.5 -4.8 -2.0p-12.0e-5.9p131.5p159.6 24.5 -2.6 67.5 14.5 55.3 ES-0.2 -89.9 -2.4 -5.8 -2.6 -16.8 -11.2 187.8 85.7 24.8 2.9 74.3 11.0 52.9 FR-1.2 -12.8 -3.2 -4.5 2.3 -1.9 4.4 138.5 89.6 9.8 1.2 70.3 4.1e24.4 HR-0.2 -90.6 -2.5 -7.5 -1.0d-4.6 -3.0 120.0 70.6 15.8 1.0 63.9 10.2 42.2 IT-0.3 -22.2 -1.9 -4.8 1.4 -5.4p-0.8 125.1 123.4 10.7 7.3 63.5 5.6 35.3 CY-6.0 -129.1 -2.1 -8.9 1.6 -5.3p16.5 328.1 79.7 11.9 6.3 73.5 3.6 27.7 LV-3.6 -67.2 -1.5 4.1 5.0 -0.4 -2.1 97.9 41.2 15.0 5.2 74.4 7.8 28.5 LT-1.4 -53.4 -2.1 6.0 2.2 -3.2 0.3 61.1 39.8 13.4 -1.0 71.8 6.6 26.7 LU5.6 49.5 -1.6 0.7 4.6 2.2 24.7 295.5 22.0 5.1 13.2 69.4 1.6 18.0 HU1.7 -93.6 -1.9 -10.5 3.6 -9.2 -6.1 101.6 77.6 11.0 -5.8 63.7 5.0 28.2 MT1.7 19.6 -2.0 -1.2 3.5 0.7 -0.7 153.3 67.8 6.3 6.1 63.1 3.1 14.1 NL10.3 27.0 -1.8 -2.9 3.0 -8.1 2.0 225.9 66.3 5.8 5.0 79.0 1.9 11.7 AT1.5 -3.2 -1.8 -6.0 3.1 4.9 1.2 128.2 81.7 4.9 0.4 75.1 1.2 9.4 PL-3.7 -65.3 -2.2 -2.3 2.0 -6.6 4.8 73.4 53.7 10.1 10.7 66.5 4.1 26.5 PT-1.8 -116.5 -1.6 -4.5 -3.2 -8.8 -3.9 210.3 126.2 15.8 -3.0 73.4 7.7 38.0 RO-4.8 -67.4 -6.1 -6.9 3.5b-9.2 0.3 71.9 37.3 6.8 4.4 64.8 3.0 22.6 SI2.1 -50.1 -1.2 -7.2 0.8 -8.5 -2.9 112.3 53.8 8.9 -0.7 70.4 4.3 20.6 SK0.9 -61.4 0.0 1.0 1.0 -6.0 3.4 77.9 52.2 14.0 0.7 69.4 9.4 34.0 FI-1.9 11.7 -2.6 -5.8 5.2 -0.4 7.4 148.6 53.9 7.7 -1.1 75.2 1.6 19.0 SE5.6 -14.6 -0.7 -5.9 4.1 0.7 2.4 192.3 38.1 8.0 5.4 80.3 1.5 23.7 UK-4.2 -29.0 4.3 -1.8 1.3 -1.7 1.8 179.6 84.5 7.9 -3.6 76.1 2.7 21.2 Flags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)Privatesectordebt,private sector credit flow: due to improved sources and methods, there are significant revisions in the time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014. 5) NULC for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Year2012External imbalances and competitivenessInternal imbalancesEmployment indicators 
 
 
 
 
 
 
 
 
 
Table 6.6: MIP Scoreboard (base indicators) 2011 

181 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE-1.1 60.9 0.6 -2.6 2.7 1.0 21.8 177.0 102.6 7.2 5.4 66.7 3.5 18.7 BG0.3 -82.8 1.0 12.0 2.5 -8.7p1.4 124.2 15.2 11.3 5.4 65.9b6.3b25.0 CZ-2.1 -45.2 2.0 -0.2 0.7 -1.7 2.1 68.3 39.8 6.7 4.3 70.5b2.7b18.1 DK6.6 27.8 -0.6 -4.2 0.0 -4.0 4.4 221.0 46.1 7.6 1.6 79.3 1.8 14.2 DE6.1 23.2 -0.6 -2.0 0.7 1.4 1.6 102.5 78.6 5.8 2.9 77.3b2.8b8.5 EE1.3 -54.8 1.1 15.1 -0.2 2.7 -1.1 120.4 6.1 12.3 -0.6 74.7 7.1 22.4 IE-2.4 -139.2 -1.0 -9.5 -2.6b-17.8p16.3 272.7 110.3 14.7 -2.2 69.2 8.6 29.1 EL-10.0 -88.8 0.6 -6.7 -1.4p-7.5e-6.5p130.2p172.1 17.9 -3.7 67.3 8.8 44.7 ES-3.2 -91.9 0.3 -1.1 -1.0 -9.8 -3.7 196.2 69.5 21.4 3.0 73.9 8.9 46.2 FR-1.0 -8.7 -0.6 -2.6 1.0 4.0 6.4 135.3 85.2 9.2 6.7 69.7 4.0e22.7 HR-0.8 -91.5 -2.7 -6.1 0.0d-2.1 -2.3 122.8 65.0 13.7 2.6 64.1 8.4 36.6 IT-3.0 -18.3 0.1 -3.5 0.7 -2.1p3.1 122.7 116.5 8.4 5.0 62.1 4.3 29.2 CY-4.1 -129.9 0.2 -5.0 1.8 -4.5p13.0 321.6 65.7 7.9 -6.1 73.5 1.6 22.4 LV-3.2 -74.4 0.8 6.9 -2.3 4.1 -2.0 115.3 42.7 16.2 -4.1 72.8 8.8 31.0 LT-4.6 -52.5 0.6 12.9 0.8 2.4 -2.2 64.7 37.2 15.4 2.5 71.4 8.0 32.6 LU6.0 28.9 0.8 -1.4 2.3 0.5 20.0 277.0 18.7 4.8 11.0 67.9 1.4 16.4 HU0.8 -105.7 -0.5 -4.1 1.7 -6.9 -4.4 114.4 79.9 11.0 6.3 62.4 5.2 26.0 MT-0.2 6.3 -0.7 -4.2 4.9 -3.4 5.4 159.8 70.1 6.4 11.0 61.8 3.0 13.3 NL8.7 20.4 -0.3 -3.5 1.0 -4.0 4.2 225.0 61.6 5.0 9.0 78.1b1.6b10.0 AT1.6 -1.9 0.5 -2.5 0.7 2.9 3.0 129.4 82.2 4.6 1.5 74.6 1.2 8.9 PL-5.2 -62.4 -2.3 -1.5 0.8 -4.6 6.7 73.9 54.1 9.7 4.8 65.7 3.6 25.8 PT-6.0 -100.7 0.7 0.3 -2.0 -6.4 -0.9 204.1 111.4 12.9 -4.5 73.6b6.2b30.2 RO-4.9 -65.4 2.8 6.1 -5.8 -15.8 2.8 72.9 34.4 7.2 4.6 64.1 2.9 23.9 SI0.2 -45.2 -0.7 -1.7 -0.8 0.9 0.4 113.0 46.6 8.2 -1.2 70.3 3.6 15.7 SK-5.0 -64.4 1.1 2.9 1.0 -5.2 3.0 70.2 43.7 13.7i0.3 68.7b9.2b33.7iFI-1.8 15.1 0.0 -6.5 2.3 0.0 3.6 145.4 48.5 7.8 28.7 74.9 1.7 20.1 SE5.5 -8.0 4.1 -0.2 2.6 0.8 6.9 190.8 37.9 7.8 3.0 79.9 1.5 22.8 UK-2.4 -11.7 0.5 -2.5 0.1 -5.0 1.7 179.6 81.3 8.1 10.4 75.5 2.7 21.3 Flags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)Unemploymentrate:SKi=Eurostatback-calculationtoinclude2011PopulationCensusresults.5)Youthunemploymentrate:SKi=Eurostatback-calculationtoinclude2011PopulationCensusresults.6)Privatesectordebt,privatesectorcreditflow:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseriesforLU.Themainimpact is a downward revision in levels of private sector debt for years 2007 to 2014. 7) NULC for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Year2011External imbalances and competitivenessInternal imbalancesEmployment indicators 
 
 
 
 
 
 
 
 
 
Table 6.7: MIP Scoreboard (base indicators) 2010 

182 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE1.8 65.2 -2.6 -6.6 -0.7 1.4 1.4 164.4 99.7 8.3 -1.4 67.7 4.0 22.4 BG-1.7 -91.9 -3.0 -7.7 4.3 -12.3p3.7 132.5 15.3 10.3i-5.4 66.7b4.7b21.9iCZ-3.6 -46.0 1.3 -5.0 0.1 -2.2 2.6 67.9 37.4 7.3 3.2 70.2 3.0 18.3 DK6.6 12.8 -4.5 -9.8 -1.0 0.3 -2.9 220.6 42.6 7.5 9.7 79.4 1.5 13.9 DE5.6 25.6 -5.3 -6.2 -1.2 -0.8 0.0 106.7 80.9 7.0 -1.1 76.7b3.3b9.8 EE1.8 -71.2 -3.8 2.8 -4.6 2.1 -7.6 140.4 6.6 16.7 -8.9 73.9 7.6 32.9 IE-2.0 -114.6 -7.3 -12.8 -9.1 -11.3p2.2 257.2 86.1 13.9 6.3 69.4 6.8 27.6 EL-11.4 -99.0 -1.2 -11.5 1.0 -8.1e5.5 128.1 146.2 12.7 8.3 67.8 5.7 33.0 ES-3.9 -88.6 -3.2 -9.6 -1.6 -3.6 0.9 200.3 60.1 19.9 -1.8 73.5 7.3 41.5 FR-0.8 -9.3 -4.2 -10.1 1.0 3.6 4.6 131.8 81.6 9.3 3.3 69.8 3.9e23.3 HR-1.2 -94.0 -3.4 -12.7 -0.6d-7.7 4.9 125.3 58.2 11.8 3.1 65.1 6.6 32.3 IT-3.4 -20.2 -4.6 -8.6 0.0 -2.2be5.0 123.3 115.4 8.4 4.2 62.0 4.0 27.9 CY-11.3 -111.2 -4.2 -14.8 -0.2 -7.7p15.1 315.6 56.3 6.3 8.4 73.6 1.3 16.6 LV2.1 -82.9 -8.0 -4.9 -9.3 -8.7 2.5 134.0 46.8 19.5 -0.3 73.0 8.8 36.2 LT-1.3 -55.9 -5.4 4.8 -7.0 -8.6 -5.9 74.5 36.2 17.8 0.3 70.2 7.4 35.7 LU6.7 -20.4 -1.7 -7.9 -1.0 4.2 -23.6 277.9 19.8 4.6 11.6 68.2 1.3 15.8 HU0.3 -108.3 1.6 -7.9 -0.3 -5.9 -4.2 114.9 79.7 11.2 -0.3 61.9 5.5 26.4 MT-4.7 12.1 -5.1 -10.9 0.2 -1.1 7.5 162.4 67.5 6.9 12.4 60.4 3.1 13.2 NL7.0 11.2 -3.9 -6.8 -1.7 -2.7 1.7 225.8 59.3 5.0 5.9 78.2b1.2b11.1 AT2.9 -5.2 -3.4 -10.4 0.0 4.4be0.3 132.3 82.4 4.8 -1.9 74.4 1.2 9.5 PL-5.4 -65.1 6.1 -1.7 2.4b-6.0e4.3 69.7 53.1 9.7 13.6 65.3b3.0b23.7 PT-10.1 -104.3 -3.1 -9.0 -1.2 -1.0 5.3 201.5 96.2 12.0 11.5 73.7 5.7 28.2 RO-5.1 -63.4 1.5 -0.4 2.4 -13.9 0.9 73.9 30.2 7.0 5.0 64.9b2.4b22.1 SI-0.1 -47.2 -2.6 -9.9 0.6 -1.2 1.9 115.1 38.4 7.3 -3.4 71.5 3.2 14.7 SK-4.7 -61.9 -4.3 -4.6 -1.1 -4.9 2.9 67.4 41.2 14.5 1.6 68.7 9.2 33.9 FI1.2 16.5 -5.8 -12.0 -1.4 4.8 7.3 148.9 47.1 8.4 19.8 74.5 2.0 21.4 SE6.0 -5.6 6.7 -1.5 -2.6 6.4 5.3 189.1 38.6 8.6 2.7 79.1 1.6 24.8 UK-3.8 -7.9 0.9 -7.2 1.8 4.0 -0.6 185.1 75.6 7.8 7.3 75.4 2.5 19.9 Flags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforPL;e=sourceNCBforEL,IT,andAT.4)UnemploymentrateforBG,i=Eurostatback-calculationtoinclude2011PopulationCensusresults.5)YouthunemploymentrateforBG,i=Eurostatback-calculationtoinclude2011PopulationCensusresults.6)Privatesectordebt,privatesectorcreditflow:duetoimprovedsourcesandmethods,therearesignificantrevisions in the time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014. 7) NULC for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Year2010External imbalances and competitivenessInternal imbalancesEmployment indicators 
 
 
 
 
 
 
 
 
 
Table 6.8: MIP Scoreboard (base indicators) 2009 

183 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE-1.1 57.5 0.5 0.9 3.2 -0.1 8.9 168.9 99.5 7.9 0.8 66.9 3.5 21.9 BG-8.3 -49.7 4.0 -4.7 10.2 -21.0p4.7 133.8 13.7 6.8 1.3 67.2 3.0 15.1 CZ-2.3 -43.9 -3.8 0.8 2.6 -4.7 0.5 65.9 33.6 6.7 2.5 70.1 2.0 16.6 DK3.5 0.9 2.6 -1.8 4.7 -13.0 -1.9 232.2 40.2 6.0 5.6 80.2 0.6 11.8 DE5.7 25.0 1.0 -1.5 6.3 1.3 -0.9 113.0 72.6 7.6 -6.3 76.3 3.5 11.1 EE2.5 -80.1 2.0 -8.1 2.2 -37.0 -6.0 153.2 7.0 13.5 -7.8 74.0 3.7 27.4 IE-5.6 -116.5 -1.5 18.4 -4.5 -13.2 -4.5 256.1 61.5 12.0 3.4 70.6b3.5b24.0 EL-12.3 -87.5 2.4 -5.7 7.1 -4.6e2.2 116.5 126.7 9.6 10.1 67.4b3.9b25.7 ES-4.3 -93.5 0.4 2.1 1.6 -5.8 -1.2 201.4 52.8 17.9 3.8 73.1 4.3 37.7 FR-0.8 -14.8 0.4 0.2 3.5 -4.8 3.3 130.5 78.9 9.1 0.1 69.8 3.3e23.6 HR-5.3 -86.9 1.4 -0.9 6.9d-8.0 2.6 119.1 49.0 9.3 5.0 65.6 5.1 25.4 IT-1.9 -22.3 1.3 -5.1 4.6 -0.1e0.8 122.5 112.5 7.7 5.0 62.3 3.4 25.3 CY-7.7 -100.3 1.0 12.7 7.7 -6.7 13.3 306.0 53.8 5.4 11.7 73.0b0.6b13.8 LV7.8 -82.7 5.1 -1.9 -10.9 -34.9 -8.6 125.4 35.8 17.5 -9.2 73.5 4.5 33.3 LT1.4 -58.4 6.8 -11.7 -1.7 -32.8 -9.4 83.3 28.0 13.8 -4.7 69.6 3.3 29.6 LU7.2 -28.9 0.9 2.5 7.4 -0.6 8.6 326.5 15.7 5.1 6.3 68.7b1.2b16.5 HU-0.8 -115.0 -5.3 -3.5 2.9 -9.0 6.0 116.4 77.2 10.0 1.9 61.2 4.2 26.4 MT-6.6 12.6 0.7 16.9 5.6 -6.2 12.7 168.1 67.6 6.9 4.3 59.4 2.9 14.5 NL5.5 1.4 1.9 0.4 5.5 -3.4 8.6 228.8 56.8 4.4 8.2 79.7 0.8 10.2 AT2.6 -5.0 1.1 -1.9 5.1 3.6e1.3 131.9 79.6 5.3 -2.0 74.3 1.2 10.7 PL-4.0 -57.3 -14.5 0.1 0.9 -5.4e4.4 67.1 49.4 8.1i9.0 64.7 2.5 20.6iPT-10.4 -107.9 -0.6 -0.2 2.7 1.0 5.3 204.2 83.6 10.7 8.9 73.4 4.2 25.3 RO-4.8 -62.0 -7.3 0.5 3.2 -27.1e-1.7 71.9 23.2 6.5 16.0 63.1 2.2 20.0 SI-0.6 -43.6 2.3 -2.8 8.5 -10.2 2.9 113.5 34.6 5.9 7.7 71.8 1.8 13.6 SK-3.4 -66.5 6.8 -7.4 6.3 -12.7 3.0 69.2 36.3 12.1 -4.7 68.4 6.5 27.6 FI1.9 3.2 3.1 -11.0 8.5 -0.4p0.8 142.8 41.7 8.2 7.8 75.0 1.4 21.5 SE6.0 -7.2 -7.1 -8.7 5.7 0.8 5.9 201.5 41.4 8.3 3.5 78.9 1.1 25.0 UK-3.9 -15.9 -9.3 -0.1 5.1 -9.7 -3.8 192.0 64.1 7.6 -17.0 75.7 1.9 19.1 Flags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforPLandRO;e=sourceNCBforEL,IT,andAT.4)Privatesectordebt,privatesectorcreditflow:duetoimprovedsourcesandmethods,therearesignificantrevisionsinthetimeseriesforLU.Themainimpactisadownwardrevisioninlevelsofprivatesectordebtforyears2007to2014.5)Unemploymentrate:PLi=Eurostatback-calculationtoinclude2011Population Census results. 6) Youth unemployment rate: PL i = Eurostat back-calculation to include 2011 Population Census results. 7) NULC for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Year2009External imbalances and competitivenessInternal imbalancesEmployment indicators 
 
 
 
 
 
 
 
 
 
Table 6.9: MIP Scoreboard (base indicators) 2008 

184 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE-1.0 51.8 2.8 -1.5 4.7 1.2 16.5 162.7 92.5 7.0 -4.4 67.1 3.3 18.0 BG-22.0 -48.0 8.7 5.6 12.8 17.6p33.3 131.4 13.0 5.6 -0.8 67.8 2.9 11.9 CZ-1.9 -38.1 15.0 4.4 3.6 7.7e9.3 63.8 28.3 4.4 6.0 69.7 2.2 9.9 DK2.9 -5.1 2.2 2.3 5.7 -7.8 18.8 222.3 33.3 3.4 0.0 80.7 0.5 8.0 DE5.6 18.1 0.6 -3.3 2.3 -0.4 0.5 109.7 65.1 7.4 4.6 75.9 3.9 10.4 EE-8.7 -75.4 6.6 0.9 16.7 -16.6 10.5 136.7 4.5 5.5i4.3 74.2 1.7 12.0iIE-6.9 -95.7 3.6 -6.9 7.5 -8.0 22.0 236.4 42.4 6.4 6.5 72.1 1.7 13.3 EL-15.1 -75.8 1.6 1.2 5.3 -2.5e15.5 113.0 109.4 7.8 4.4 66.7 3.7 21.9 ES-9.3 -80.2 2.5 -4.5 5.7 -4.8 11.7 195.7 39.5 11.3 3.8 72.7 2.0 24.5 FR-1.0 -13.8 1.6 -2.5 2.9 -1.9 9.8 122.2 68.0 7.4 1.9 69.4 2.9e19.0 HR-9.0 -73.8 4.0 1.5 5.1d-2.6e16.1 110.8 39.6 8.6 -8.2 65.8 5.3 23.6 IT-2.8 -21.7 1.4 -6.3 4.2 -0.5e6.6 113.9 102.4 6.7 -0.8 62.9 3.0 21.2 CY-15.5 -79.1 3.2 -5.9e2.9 0.6 29.8 285.0 45.1 3.7 115.7 73.6 0.5 9.0 LV-12.3 -74.2 10.2 4.4 21.0 -10.9 9.1 104.5 18.2 7.7 9.0 74.2 1.9 13.6 LT-13.6 -51.5 6.1 20.0 9.7 -1.8 10.3 76.7 14.6 5.8 4.2 68.4 1.3u13.3 LU7.6 16.3 2.0 -3.6 9.1 0.2 -5.5 296.1 14.9 4.9 -6.4 66.8 1.6 17.3 HU-7.0 -101.7 2.5 3.6 4.3 -3.1 12.6 105.0 71.0 7.8i26.1 61.2 3.6 19.5iMT-1.1 4.2 3.7 14.3 3.2 7.1 13.4 153.3 62.6 6.0 13.2 59.1 2.6 11.7 NL5.0 -8.1 0.6 -0.2 3.7 0.0 9.7 216.3 54.7 3.7 3.8 79.3 0.9 8.6 AT4.5 -10.0 0.3 -2.4 3.7 -1.1e5.4 126.7 68.4 4.1 10.9 73.9 1.0 8.5 PL-6.7 -55.6 8.8 7.6 7.8 na14.2 67.3 46.3 7.1 6.8 63.8 2.4 17.2 PT-12.1 -95.1 0.6 -3.8 2.8 0.9be15.9 196.2 71.7 8.8 4.4 73.9 3.6 21.6 RO-11.8 -52.5 -5.4 14.1 21.9 na13.1 65.5 13.2 5.6 14.0 62.9 2.4 17.6 SI-5.3 -39.4 1.6 -0.6 6.4 1.3 15.5 105.6 21.8 4.4 6.6 71.8 1.9 10.4 SK-6.5 -58.1 8.5 -1.8 4.2 12.9 10.9 64.9 28.5 9.6 10.5 68.8 6.6 19.3 FI2.2 -4.6 1.6 0.0 5.8 -2.4p16.7 132.7 32.7 6.4 16.8 76.0 1.2 16.5 SE7.8 -7.9 -2.5 -4.3 5.2 -2.0 18.7 189.1 37.8 6.2 12.0 79.3 0.8 20.2 UK-4.6 9.7 -13.1 -10.9 1.8 -8.2 12.6 190.7 49.9 5.6 46.9 75.8b1.4 15.0 Flags:b:Break in series. e:Estimated. p:Provisional. u:Low reliability. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforCZ;e=sourceNCBforEL,HR,IT,PT,andAT.4)UnemploymentrateforEEandHUi=Eurostatback-calculationtoinclude2011PopulationCensusresults.5)YouthunemploymentrateforEEandHUi=Eurostatback-calculationtoinclude2011PopulationCensusresults.6)Privatesectordebt,privatesectorcreditflow:duetoimprovedsourcesandmethods,there are significant revisions in the time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014. 7) NULC for HR d: employment data use national concept instead of domestic concept.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Year2008External imbalances and competitivenessInternal imbalancesEmployment indicators 
 
 
 
 
 
 
 
 
 
Table 6.10: MIP Scoreboard (base indicators) 2007   

185 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE2.0 33.6 0.7 2.4 1.8 4.8 17.0 134.5 87.0 7.5 14.7 67.1 3.8 18.8 BG-23.9 -39.4 4.7 6.9 8.3 18.3p41.2 123.4 16.3 6.9 29.3 66.3 4.1 14.1 CZ-4.6 -36.4 2.6 7.8 2.6 16.0e9.3 57.4 27.5 5.3 15.5 69.9 2.8 10.7 DK1.4 -5.8 0.7 -0.5 5.2 0.9 17.1 208.5 27.3 3.8 10.2 80.1 0.6 7.5 DE6.7 18.7 1.3 3.9 -0.6 -3.7 2.1 110.9 63.7 8.5 8.2 75.6 4.9 11.8 EE-15.0 -71.3 4.5 13.4 16.8 12.2 12.3 123.0 3.7 4.6 27.9 73.2 2.3 10.1 IE-6.5 -31.4 3.1 3.3 4.9 4.8 24.9 198.1 23.9 4.7 9.6 72.6b1.4b9.1 EL-15.2 -93.7 0.7 6.9 2.6 2.1e16.2 101.5 103.1 8.4 22.2 66.5 4.2 22.7 ES-9.6 -79.6 1.6 5.0 4.1 6.3 26.4 191.2 35.6 8.2 16.8 71.8 1.7 18.1 FR-0.3 -8.9 0.6 -1.1 1.6 3.5b11.2 115.6 64.3 8.0 12.6 69.3 3.3e19.5 HR-7.3 -89.1 0.4 1.9 3.3p8.9e16.8 101.3 37.7 9.9 23.6 65.7 6.0 25.4 IT-1.4 -21.2 0.9 3.1 2.0 2.6e12.0 109.7 99.8 6.1 0.6 62.4 2.9 20.4 CY-11.8 -56.5 -0.7 3.0e1.5 8.0 30.4 265.5 53.5 3.9 27.2 73.9 0.7 10.2 LV-20.7 -69.0 6.5 21.7 27.3 22.0 29.5 102.6 8.0 6.1 36.7 72.6 1.6 10.6 LT-15.5 -54.6 3.0 3.5 4.8 19.3 22.8 74.7 15.9 4.3 34.6 67.9 1.4u8.4 LU9.7 -18.2 0.9 7.5 0.4 4.7be148.8 309.6 7.7 4.2 13.7 66.9b1.2b15.6 HU-7.1 -88.1 10.9 10.7 4.9 na15.9 93.7 65.0 7.4 23.7 61.6 3.5 18.1 MT-1.9 21.4 1.3 3.3 2.0 19.6 7.8 146.7 62.3 6.5 44.0 58.8 2.7 13.5 NL7.0 -15.0 0.2 1.8 2.4 2.4 12.9 214.9 42.7 4.2 14.9 78.5 1.2 9.4 AT3.8 -9.7 0.6 4.8 1.1 2.1e7.3 123.9 64.7 4.9 11.0 73.5b1.3b9.4 PL-6.3 -49.2 3.1 10.6 3.2 na12.5 54.4 44.2 9.6 18.4 63.2 4.9 21.6 PT-9.7 -88.8 1.0 4.4 1.0 -1.9e18.2 185.0 68.4 9.1 10.2 73.9 3.8 21.4 RO-13.8 -46.9 8.3 24.0 8.9 na20.3 57.8 12.7 6.4 35.3 63.0 3.2 19.3 SI-4.1 -25.5 1.3 10.3 2.6 18.7e21.5 96.3 22.8 4.9 28.6 71.3 2.2 10.1 SK-5.9 -56.4 9.7 9.1 0.2 25.7 9.6 60.4 30.1 11.2 25.7 68.3 8.3 20.6 FI3.8 -27.9 0.2 4.4 0.3 3.9p13.2 123.6 34.0 6.9 10.2 75.6 1.5 16.5 SE8.2 1.2 1.0 2.3 4.2 10.9 20.1 167.9 39.3 6.1 9.5 79.1 0.8 19.2 UK-3.8 -8.0 1.6 -7.7 3.8 7.8 18.4 183.8 41.9 5.3 16.8 75.5b1.3 14.3 Flags:b:Break in series. e:Estimated. p:Provisional. u:Low reliability. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindex:e=NSIestimatesforCZandSI;e=sourceNCBfor EL, HR, IT, AT, and PT; e= NSI&NCB estimates for LU. 4) Private sector debt, private sector credit flow: due to improved sources and methods, there are significant revisions in the time series for LU. The main impact is a downward revision in levels of private sector debt for years 2007 to 2014.(cid:9)(cid:9)(cid:9)(cid:9)      Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world exports series)Year2007External imbalances and competitivenessInternal imbalancesEmployment indicators