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 2019 (prepared in accordance with Articles 3 and 4 of Regulation (EU) No 1176/2011 on the prevention and correction of macroeconomic imbalances)
Date: 2018-11-21
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, 21.11.2018  SWD(2018) 466 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 2019  (prepared in accordance with Articles 3 and 4 of Regulation (EU) No 1176/2011 on the prevention and correction of macroeconomic imbalances) {COM(2018) 758 final}  
 
 
European 
Commission 

                             Statistical Annex of 
                               Alert Mechanism Report 2019 

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 ........................................................................................................ 10 

The MIP quality framework ......................................................................................................................... 12 

Chapter 1: Tables by year - Headline indicators ........................................................................................ 15 

Table 1.1: MIP Scoreboard 2017 ................................................................................................................. 15 

Table 1.2: MIP Scoreboard 2016 ................................................................................................................. 16 

Table 1.3: MIP Scoreboard 2015 ................................................................................................................. 17 

Table 1.4: MIP Scoreboard 2014 ................................................................................................................. 18 

Table 1.5: MIP Scoreboard 2013 ................................................................................................................. 19 

Table 1.6: MIP Scoreboard 2012 ................................................................................................................. 20 

Table 1.7: MIP Scoreboard 2011 ................................................................................................................. 21 

Table 1.8: MIP Scoreboard 2010 ................................................................................................................. 22 

Table 1.9: MIP Scoreboard 2009 ................................................................................................................. 23 

Table 1.10: MIP Scoreboard 2008 ............................................................................................................... 24 

Chapter 2: Tables by year - Auxiliary indicators used in the economic reading of the MIP scoreboard
 ......................................................................................................................................................................... 25 

Table 2.1: Auxiliary indicators, 2017 .......................................................................................................... 25 

Table 2.1 (continued): Auxiliary indicators, 2017....................................................................................... 26 

Table 2.2: Auxiliary indicators, 2016 .......................................................................................................... 27 

Table 2.2 (continued): Auxiliary indicators, 2016....................................................................................... 28 

Table 2.3: Auxiliary indicators, 2015 .......................................................................................................... 29 

Table 2.3 (continued): Auxiliary indicators, 2015....................................................................................... 30 

Table 2.4: Auxiliary indicators, 2014 .......................................................................................................... 31 

Table 2.4 (continued): Auxiliary indicators, 2014....................................................................................... 32 

Table 2.5: Auxiliary indicators, 2013 .......................................................................................................... 33 

Table 2.5 (continued): Auxiliary indicators, 2013....................................................................................... 34 

Table 2.6: Auxiliary indicators, 2012 .......................................................................................................... 35 

Table 2.6 (continued): Auxiliary indicators, 2012....................................................................................... 36 

Table 2.7: Auxiliary indicators, 2011 .......................................................................................................... 37 

Table 2.7 (continued): Auxiliary indicators, 2011....................................................................................... 38 

Table 2.8: Auxiliary indicators, 2010 .......................................................................................................... 39 

Table 2.8 (continued): Auxiliary indicators, 2010....................................................................................... 40 

Table 2.9: Auxiliary indicators, 2009 .......................................................................................................... 41 

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Table 2.9 (continued): Auxiliary indicators, 2009....................................................................................... 42 

Table 2.10: Auxiliary indicators, 2008 ........................................................................................................ 43 

Table 2.10 (continued): Auxiliary indicators, 2008..................................................................................... 44 

Chapter 3: Tables by indicator..................................................................................................................... 45 

Table 3.1: Current account balance, % of GDP (3 year average) ................................................................ 45 

Table 3.2: Current account balance (% of GDP) ......................................................................................... 46 

Table 3.3: Net International Investment Position (% of GDP) .................................................................... 47 

Table 3.4: Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change) ............... 48 

Table 3.5: Real effective exchange rate - 42 trading partners, HICP deflator (1 year % change) ............... 49 

Table 3.6: Export market share - % of world exports (5 year % change) ................................................... 50 

Table 3.7: Export market share - % of world exports (1 year % change) ................................................... 51 

Table 3.8: Nominal unit labour cost index, 2010=100 (3 year % change) .................................................. 52 

Table 3.9: Nominal unit labour cost index, 2010=100 (1 year % change) .................................................. 53 

Table 3.10: House price index (2015=100), deflated (1 year % change) .................................................... 54 

Table 3.11: Private sector credit flow, consolidated (% of GDP) ............................................................... 55 

Table 3.12: Private sector debt, consolidated (% of GDP) .......................................................................... 56 

Table 3.13: General government gross debt (% of GDP) ............................................................................ 57 

Table 3.14: Unemployment rate (3 year average) ....................................................................................... 58 

Table 3.15: Unemployment rate (%) ........................................................................................................... 59 

Table 3.16: Total financial sector liabilities, non-consolidated (1 year % change) ..................................... 60 

Table 3.17: Total financial sector liabilities, non-consolidated (Millions NC) ........................................... 61 

Table 3.18: Activity rate - % of total population aged 15-64 (3 year change in pp) ................................... 62 

Table 3.19: Activity rate - % of total population aged 15-64 ...................................................................... 63 

Table 3.20: Long-term unemployment rate - % of active population aged 15-74 (3 year change in pp) .... 64 

Table 3.21: Long-term unemployment rate - % of active population aged 15-74 ....................................... 65 

Table 3.22: Youth unemployment rate - % of active population aged 15-24 (3 year change in pp) ........... 66 

Table 3.23: Youth unemployment rate - % of active population aged 15-24 .............................................. 67 

Table 3.24: Real GDP (1 year % change) ................................................................................................... 68 

Table 3.25: Gross fixed capital formation (% of GDP) ............................................................................... 69 

Table 3.26: Gross domestic expenditure on R&D (% of GDP) .................................................................. 70 

Table 3.27: Current plus capital account - Net lending-borrowing (% of GDP) ......................................... 71 

Table 3.28: Net international investment position excluding non-defaultable instruments (% of GDP) .... 72 

Table 3.29: Foreign direct investment in the reporting economy - flows (% of GDP) ............................... 73 

Table 3.30: Foreign direct investment in the reporting economy - stocks (% of GDP) .............................. 74 

Table 3.31: Net trade balance of energy products (% of GDP) ................................................................... 75 

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Table 3.32: Real effective exchange rate - Euro Area trading partners (3 year % change)......................... 76 

Table 3.33: Export performance against advanced economies (5 year % change) ..................................... 77 

Table 3.34: Terms of trade (5 year % change) ............................................................................................ 78 

Table 3.35: Export market share, volume (1 year % change) ..................................................................... 79 

Table 3.36: Real labour productivity (1 year % change) ............................................................................. 80 

Table 3.37: Gross non-performing loans, domestic and foreign entities (% of gross loans) ....................... 81 

Table 3.38: Unit labour cost performance relative to EA (10 year % change) ............................................ 82 

Table 3.39: House price index (2015=100) - nominal (3 year % change)................................................... 83 

Table 3.40: Residential construction (% of GDP) ....................................................................................... 84 

Table 3.41: Household debt, consolidated (incl. Non-profit institutions serving households, % of GDP) . 85 

Table 3.42: Consolidated banking leverage, domestic and foreign entities (asset-to-equity multiple) ....... 86 

Table 3.43: Employment rate (1 year % change) ........................................................................................ 87 

Table 3.44: Young people neither in employment nor in education and training - % of total population 
aged 15-24 ................................................................................................................................................... 88 

Table 3.45: People at risk of poverty or social exclusion - % of total population ....................................... 89 

Table 3.46: People at risk of poverty after social transfers - % of total population .................................... 90 

Table 3.47: Severely materially deprived people - % of total population ................................................... 91 

Table 3.48: People living in households with very low work intensity - % of total population aged 0-59 . 92 

Chapter 4: Tables by Member State - Headline indicators ....................................................................... 93 

Table 4.1: The MIP scoreboard for Belgium ............................................................................................... 93 

Table 4.2: The MIP scoreboard for Bulgaria ............................................................................................... 94 

Table 4.3: The MIP scoreboard for Czechia ................................................................................................ 95 

Table 4.4: The MIP scoreboard for Denmark .............................................................................................. 96 

Table 4.5: The MIP scoreboard for Germany .............................................................................................. 97 

Table 4.6: The MIP scoreboard for Estonia ................................................................................................ 98 

Table 4.7: The MIP scoreboard for Ireland ................................................................................................. 99 

Table 4.8: The MIP scoreboard for Greece ............................................................................................... 100 

Table 4.9: The MIP scoreboard for Spain ................................................................................................. 101 

Table 4.10: The MIP scoreboard for France .............................................................................................. 102 

Table 4.11: The MIP scoreboard for Croatia ............................................................................................. 103 

Table 4.12: The MIP scoreboard for Italy ................................................................................................. 104 

Table 4.13: The MIP scoreboard for Cyprus ............................................................................................. 105 

Table 4.14: The MIP scoreboard for Latvia .............................................................................................. 106 

Table 4.15: The MIP scoreboard for Lithuania ......................................................................................... 107 

Table 4.16: The MIP scoreboard for Luxembourg .................................................................................... 108 

Table 4.17: The MIP scoreboard for Hungary........................................................................................... 109 
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Table 4.18: The MIP scoreboard for Malta ............................................................................................... 110 

Table 4.19: The MIP scoreboard for Netherlands ..................................................................................... 111 

Table 4.20: The MIP scoreboard for Austria ............................................................................................. 112 

Table 4.21: The MIP scoreboard for Poland ............................................................................................. 113 

Table 4.22: The MIP scoreboard for Portugal ........................................................................................... 114 

Table 4.23: The MIP scoreboard for Romania .......................................................................................... 115 

Table 4.24: The MIP scoreboard for Slovenia........................................................................................... 116 

Table 4.25: The MIP scoreboard for Slovakia........................................................................................... 117 

Table 4.26: The MIP scoreboard for Finland ............................................................................................ 118 

Table 4.27: The MIP scoreboard for Sweden ............................................................................................ 119 

Table 4.28: The MIP scoreboard for United Kingdom .............................................................................. 120 

Chapter 5: Tables by Member State - Auxiliary indicators used in the economic reading of the MIP 
scoreboard .................................................................................................................................................... 121 

Table 5.1: Auxiliary indicators for Belgium ............................................................................................. 121 

Table 5.1 (continued): Auxiliary indicators for Belgium .......................................................................... 122 

Table 5.2: Auxiliary indicators for Bulgaria.............................................................................................. 123 

Table 5.2 (continued): Auxiliary indicators for Bulgaria .......................................................................... 124 

Table 5.3: Auxiliary indicators for Czechia .............................................................................................. 125 

Table 5.3 (continued): Auxiliary indicators for Czechia ........................................................................... 126 

Table 5.4: Auxiliary indicators for Denmark ............................................................................................ 127 

Table 5.4 (continued): Auxiliary indicators for Denmark ......................................................................... 128 

Table 5.5: Auxiliary indicators for Germany ............................................................................................ 129 

Table 5.5 (continued): Auxiliary indicators for Germany ......................................................................... 130 

Table 5.6: Auxiliary indicators for Estonia ............................................................................................... 131 

Table 5.6 (continued): Auxiliary indicators for Estonia ............................................................................ 132 

Table 5.7: Auxiliary indicators for Ireland ................................................................................................ 133 

Table 5.7 (continued): Auxiliary indicators for Ireland ............................................................................. 134 

Table 5.8: Auxiliary indicators for Greece ................................................................................................ 135 

Table 5.8 (continued): Auxiliary indicators for Greece ............................................................................. 136 

Table 5.9: Auxiliary indicators for Spain .................................................................................................. 137 

Table 5.9 (continued): Auxiliary indicators for Spain ............................................................................... 138 

Table 5.10: Auxiliary indicators for France .............................................................................................. 139 

Table 5.10 (continued): Auxiliary indicators for France ........................................................................... 140 

Table 5.11: Auxiliary indicators for Croatia ............................................................................................. 141 

Table 5.11 (continued): Auxiliary indicators for Croatia .......................................................................... 142 

Table 5.12: Auxiliary indicators for Italy .................................................................................................. 143 
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Table 5.12 (continued): Auxiliary indicators for Italy ............................................................................... 144 

Table 5.13: Auxiliary indicators for Cyprus .............................................................................................. 145 

Table 5.13 (continued): Auxiliary indicators for Cyprus .......................................................................... 146 

Table 5.14: Auxiliary indicators for Latvia ............................................................................................... 147 

Table 5.14 (continued): Auxiliary indicators for Latvia ............................................................................ 148 

Table 5.15: Auxiliary indicators for Lithuania .......................................................................................... 149 

Table 5.15 (continued): Auxiliary indicators for Lithuania ....................................................................... 150 

Table 5.16: Auxiliary indicators for Luxembourg ..................................................................................... 151 

Table 5.16 (continued): Auxiliary indicators for Luxembourg ................................................................. 152 

Table 5.17: Auxiliary indicators for Hungary ........................................................................................... 153 

Table 5.17 (continued): Auxiliary indicators for Hungary ........................................................................ 154 

Table 5.18: Auxiliary indicators for Malta ................................................................................................ 155 

Table 5.18 (continued): Auxiliary indicators for Malta ............................................................................. 156 

Table 5.19: Auxiliary indicators for Netherlands ...................................................................................... 157 

Table 5.19 (continued): Auxiliary indicators for Netherlands ................................................................... 158 

Table 5.20: Auxiliary indicators for Austria ............................................................................................. 159 

Table 5.20 (continued): Auxiliary indicators for Austria .......................................................................... 160 

Table 5.21: Auxiliary indicators for Poland .............................................................................................. 161 

Table 5.21 (continued): Auxiliary indicators for Poland ........................................................................... 162 

Table 5.22: Auxiliary indicators for Portugal ............................................................................................ 163 

Table 5.22 (continued): Auxiliary indicators for Portugal ........................................................................ 164 

Table 5.23: Auxiliary indicators for Romania ........................................................................................... 165 

Table 5.23 (continued): Auxiliary indicators for Romania ....................................................................... 166 

Table 5.24: Auxiliary indicators for Slovenia ........................................................................................... 167 

Table 5.24 (continued): Auxiliary indicators for Slovenia ........................................................................ 168 

Table 5.25: Auxiliary indicators for Slovakia ........................................................................................... 169 

Table 5.25 (continued): Auxiliary indicators for Slovakia ........................................................................ 170 

Table 5.26: Auxiliary indicators for Finland ............................................................................................. 171 

Table 5.26 (continued): Auxiliary indicators for Finland .......................................................................... 172 

Table 5.27: Auxiliary indicators for Sweden ............................................................................................. 173 

Table 5.27 (continued): Auxiliary indicators for Sweden ......................................................................... 174 

Table 5.28: Auxiliary indicators for United Kingdom .............................................................................. 175 

Table 5.28 (continued): Auxiliary indicators for United Kingdom ........................................................... 176 

Chapter 6: Tables by year - MIP Scoreboard (base indicators) ............................................................. 177 

Table 6.1: MIP Scoreboard (base indicators) 2017 ................................................................................... 177 

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Table 6.2: MIP Scoreboard (base indicators) 2016 ................................................................................... 178 

Table 6.3: MIP Scoreboard (base indicators) 2015 ................................................................................... 179 

Table 6.4: MIP Scoreboard (base indicators) 2014 ................................................................................... 180 

Table 6.5: MIP Scoreboard (base indicators) 2013 ................................................................................... 181 

Table 6.6: MIP Scoreboard (base indicators) 2012 ................................................................................... 182 

Table 6.7: MIP Scoreboard (base indicators) 2011 ................................................................................... 183 

Table 6.8: MIP Scoreboard (base indicators) 2010 ................................................................................... 184 

Table 6.9: MIP Scoreboard (base indicators) 2009 ................................................................................... 185 

Table 6.10: MIP Scoreboard (base indicators) 2008 ................................................................................. 186 

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BACKGROUND INFORMATION 

This  Statistical  Annex  to  the  2019  Alert  Mechanism  Report  (AMR  2019)  presents  the 
Macroeconomic  Imbalance  Procedure  (MIP)  scoreboard  and  auxiliary  indicators  used  in  the 
economic reading of the MIP scoreboard. These 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  the  24th  October  2018.  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 

Nominal unit labour cost index (2010=100) 

3 year % change 

Current account balance (% of GDP) 

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

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) 

3 year average 

% of GDP 

Eurostat 

Eurostat 

BoP/NA 

BoP/NA 

3 year % change 

DG ECFIN 

5 year % change  

Eurostat, IMF 

1 year % change  
% of GDP 
% of GDP 
% of GDP 
3 year average 
1 year % change  
3 year change in pp 

Eurostat 

Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 

BoP 

NA 

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

3 year change in pp 

Eurostat 

EU-LFS 

3 year change in pp 

Eurostat 

EU-LFS 

Note: NA – National Accounts; BoP – Balance of Payments; FA – Financial Accounts; EDP – Excessive Deficit Procedure Statistics 
/ GFS – Government Finance Statistics; and LFS – Labour Force Survey/Labour Market Statistics; pp – percentage points 

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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Compared to the AMR 2018 the composition of the set of auxiliary indicators has changed, mainly 
to  benefit  from  improved  statistics  becoming  available  and  to  incorporate  into  the  set  of  the 
auxiliary indicators variables that provide finer breakdowns  and/or complementary information to 
the Scoreboard indicators. 

Net  international  investment  position  excluding  non-defaultable  instruments  measured  as  a 
percentage of GDP (NENDI) replaced the Net External debt (NED), as this indicator focuses on the 
NIIP  components  that  may  be  subject  to  default  or  partly  be  used  as  collateral.  This  change  has 
become possible after the adoption of the 6th version of the Balance of Payment and International 
Investment  Position  Manual  (BPM6)  that  permits  a  finer  breakdown  of  net  foreign  assets  and 
liabilities. 

Consolidated  banking leverage  (CBL),  domestic  and  foreign  entities  (asset-to-equity  multiple) 
from  the  Consolidated  banking  data  (CBD)  produced  by  the  European  Central  Bank  (ECB), 
replaced  the  previous  non-consolidated  financial  sector  leverage  (FSL)  indicator.  The  leverage 
indicator based on ECB data has a clearer economic interpretation since it is consistently based on 
book  values,  whereas  the  previous  indicator  provided  the  ratio  of  debt  over  equity,  based  on  the 
overall financial sector (including banks, insurers, pension funds, mutual funds, and other financial 
institutions) on a non-consolidated basis. 

Household debt, consolidated (including non-profit institutions serving households (NPISH)) as a 
percentage of GDP was added; this variable helps to distinguish between the debt of households and 
that of non-financial corporations (which would correspond to the difference between total private 
debt,  already  included  among  the  indicators  of  the  MIP  scoreboard,  and  household  debt),  and 
contributes to interpreting and assessing private debt developments. 

Finally,  following  the  availability  of  cross-country-comparable  data  in  the  ECB's  consolidated 
banking statistics, the addition of  Gross non-performing loans of domestic and foreign entities 
(in  percentage  of  gross  loans,  GNPL)  has  become  possible.  The  indicator  is  consistent  with  the 
macro-financial  focus  of  MIP  surveillance  and  provides  complementary  information  to  assess 
private debt developments. 

In order to keep the total number of indicators stable, two auxiliary indicators were removed:  ten-
year change of Nominal unit labour cost (NULC), as it overlaps with data on ULC and on ULC 
relative to euro area already in the scoreboard, and  non-consolidated Private sector debt, which 
has been superseded by the consolidated headline indicator. 

Table 2. MIP auxiliary indicators (AMR 2019) 

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 international investment position excluding non-
defaultable instruments  
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 

% of GDP 

Statistical 
domain 

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

Eurostat 
Eurostat 
Eurostat 

Eurostat 
Eurostat 

Eurostat 

BoP/NA 

Eurostat 

BoP/NA 

Eurostat 

International  Trade/ 
NA 

Real  effective  exchange  rates  –  euro  area  trading 
partners 

3 year % change 

DG ECFIN 

9 

 
 
 
 
5 year % change 
5 year % change 
1 year % change 
1 year % change  
% of gross loans 

Eurostat/OECD  BoP 
NA 
Eurostat 
Eurostat /IMF 
Eurostat 
ECB 

NA 
CBD 

Export performance against advanced economies 
Terms of trade 
Export market share - in volume 
Labour productivity 
Gross  non-performing  loans,  domestic  and  foreign 
entities 
Unit labour cost performance relative to euro area 
House price index (2015=100) - nominal 
Residential construction 
Household debt, consolidated (incl. NPISH) 
Consolidated banking leverage  

total 

asset/ 

Long term unemployment rate 

Employment rate 
Activity rate 

DG ECFIN 
Eurostat 
Eurostat 
Eurostat 
ECB 

Price statistics  
NA 
NA (FA) 
CBD 

10 year % change 
3 year % change 
% of GDP 
% of GDP 
Total 
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; CBD – Consolidated banking data; FA – Financial Accounts; LFS – 
Labour Force Survey/Labour Market Statistics; SILC – Statistics on Income and Living Condition 

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  

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

Eurostat 
Eurostat 
Eurostat 
Eurostat 

Youth unemployment rate 

in  employment  nor 

NA 
EU-LFS 

Eurostat 
Eurostat 

EU-LFS 

EU-LFS 

EU-LFS 

Eurostat 

Eurostat 

Eurostat 

in 

In Chapter 3, the data are presented by indicator to allow easy comparison of Member States for the 
10-year  time  series.  In  addition,  short  descriptions  of  the  indicators  and  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 have been 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  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 
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. In order to 
maintain comparability over time, either countries themselves or Eurostat in cooperation with them, 
have  back-calculated  the  main  BoP  time  series  according  to  the  new  standards.  As  a  result,  data 
coverage  for  the  ten  years  timespan  needed  for  this  year's  Statistical  Annex  (2008-2017)  is 
complete.  

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 
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2014,  Eurostat  has  regularly  assessed  the  state  of  consistency  between  Balance  of  Payments  and 
National  Accounts  statistics,  with  a  focus  on  the  non-financial  accounts.  In  order  to  maximize 
efforts at European level, Eurostat contributes to a Task Force on the Consistency between NA and 
BoP,  established  by  the  Committee  for  Monetary,  Financial  and  Balance  of  Payments  statistics 
(CMFB),  with  the  purpose  of  identifying  the  reasons  behind  methodological  differences  in 
compiling the two data sets and making recommendations for addressing them. 

Additional changes in 2018 

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 routine and benchmarking 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. While most countries plan to 
introduce benchmark revisions in national accounts in 2019, it is worth noting that France and the 
Netherlands already implemented their benchmark revisions in 2018. 

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  full  alignment  with  integrated  levels  in  national  accounts,  the  current  account  and  IIP  of  the 
Netherlands has been revised backwards. Ireland improved the consistency of treatment of research 
and development in its National Accounts and Balance of Payments Statistics. Further, estimates of 
trade  in  financial  services  were  improved,  and  the  involvement  of  Multinational  enterprises  in 
cross-border transactions related to intellectual property and royalties/licenses were accounted for.  

In the domain of Financial Accounts, regarding Total Financial Sector Liabilities, work is ongoing 
to ensure a comprehensive and timely coverage of ‘Other financial institutions’ (OFIs). Other areas 
of ongoing or planned statistical work which are important for the quality of MIP indicators concern 
the recording of other equity, of loans between non-financial corporations, and of derivatives. For 
Luxembourg there have  been further improvements  in sources and methods in  financial accounts, 
leading  to  significant  revisions  particularly  for  2014-2015  in  the  indicators  on  Total  Financial 
Sector  Liabilities,  Private  Sector  Debt,  and  Private  Sector  Credit  Flow.  For  the  Netherlands  there 
were  significant  revisions  in  these  three  MIP  indicators  due  to  the  2018  national  accounts 
benchmark revision. 

Concerning  the  Labour  Force  Survey,  from  the  third  quarter  of  2017  Ireland  substituted  the 
Quarterly National Household Survey (QNHS) by the new Labour Force Survey (LFS) as the official 
source  of  estimates  of  employment  and  unemployment.  The  new  survey  introduced  several 
methodological  changes,  in  particular  the  introduction  of  mixed  collection  modes,  a  new  sample 
allocation  guarantying  equal  distribution  of  the  sample  over  all  the  weeks  of  the  quarter,  the 
introduction of a non-response adjustment in order to reduce the possible bias of estimates, and the 
implementation,  in  the  weighting  procedure,  of  the  results  of  the  2016  Census  of  Population.  The 
latter change had the largest revision impact. To minimise breaks in series, the Irish Central Statistics 
Office has created a back-casted LFS series from Q1 1998 to Q2 2017 using scaling factors calibrated 
on the base of a parallel run of the QNHS and LFS at the beginning of 2017. As a consequence, MIP 
indicators series have been revised as well. 

11 

 
 
 
Further  methodological  improvements  have  been  introduced  in  the  following  countries:  Malta 
implemented  a  back  data  extensions  of  its  new  weighting  scheme  using  population  estimates, 
amongst other sources, starting from the first quarter of 2010 onwards; Belgium revised its survey 
methodology,  in  particular  for  the  sampling  design,  rotational  scheme  of  the  survey  units  and 
weighting procedure; Denmark improved data collection and introduced the Computer-assisted web 
interviewing (CAWI) technique also in the core survey.  

General Government Gross Debt data notified for the years 2014 to 2017 have been released on 
22nd  October  2018  within  the  EDP  notification. For  more  information  on  main  revisions  between 
the April 2018 and the October 2018 notifications please see the latest EDP news release1. 

THE MIP QUALITY FRAMEWORK  

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)2 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 
information,  a  Memorandum  of 
continuous 
Understanding  (MoU)  was  signed  between  Eurostat  and  the  Directorate  General  Statistics  of  the 
European  Central  Bank  in  November  2016,  which  mutually  recognises  both  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 MIP quality assurance framework, developed jointly by Eurostat and the Directorate General 
Statistics of the European Central Bank, follows a three-level structure. A comprehensive webpage3 
with  information  and  links  to  all  relevant  quality  documents  is  available  on  the  MIP  dedicated 
section  of  Eurostat  website.  In  this  framework,  the  work  performed  in  2018  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,  to  assess  the  reliability  and  comparability  of  MIP  underlying  statistics  and 
address  the  most  relevant  quality  issues;  the  fourth  report  has  been  prepared  in  2018  and  has 
been published on the websites of Eurostat, the ECB, and of the CMFB.  

1 https://ec.europa.eu/eurostat/documents/2995521/9328077/2-22102018-AP-EN.pdf/e1b423ef-a337-42ea-90cb-
4a6775ba4c07  
2 Council conclusions of ECOFIN Council meeting on 8 November 2016 
(http://data.consilium.europa.eu/doc/document/ST-14164-2016-INIT/en/pdf)  
3 https://ec.europa.eu/eurostat/web/macroeconomic-imbalances-procedure/quality 

12 

 
 
                                                           
  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 following level 2 reports are 
currently available: 
  National  Accounts  (including  Financial  Accounts)  (Eurostat4)  and  Financial  Accounts 

(ECB5) 

  Balance of Payments and International Investment Position statistics (Eurostat6, ECB7) 
  House Price Statistics (Eurostat8) 
  Labour Force Survey (Eurostat9) 

In  the  area  of  National  Accounts,  following  the  adoption  of  an  implementing  act10,  an  annual 
reporting on the quality of national and regional accounts data by Member States started in 2017. 
The  first  annual  Eurostat  quality  report  was  published  on  17  May  201811,  based  on  data 
transmissions  in  2016  covered  by  the  ESA  2010  transmission  programme.  The  Eurostat  quality 
report  also  explicitly  covers  data  underlying  the  MIP  indicators.  The  set  of  quality  indicators 
covered  will  be  progressively  extended  by  2021.  An  overview  on  ESA  2010  implementation  and 
quality was added to the Eurostat website12. 

The  full  implementation  of  the  alignment  of  the  existing  Quality  Reports  on  Balance  of 
Payments/International  Investment  Position  produced  by  the  ESS  and  the  ESCB  was  achieved  in 
the  course  of  2018  (on  reference  data  for  2017).  While  due  to  the  different  data  coverage  and 
legislation it is currently not possible to have one common report, its structure, the indicators and 
the findings included in the Eurostat and the ECB reports are to great extent harmonized.  

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 website13. 

  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 2017 

4 https://ec.europa.eu/eurostat/documents/7870049/8900941/KS-FT-18-004-EN-N.pdf/bc2c1802-94cb-46ec-b1dd-
849562fca9ff  
5 https://www.ecb.europa.eu/pub/pdf/euroareafinancialaccounts/ecb.eaqfa201806.en.pdf  
6 https://ec.europa.eu/eurostat/documents/7870049/7870124/KS-FT-17-006-EN-N.pdf/c61335b7-333a-4e4a-b2a3-
e8ae4776d8e2 
7 https://www.ecb.europa.eu/pub/pdf/bopips/ecb.bopips201806.en.pdf 
8 https://ec.europa.eu/eurostat/documents/7590317/0/HPI-Quality-Report-2017/ 
9 https://ec.europa.eu/eurostat/web/lfs/publications/quality-reporting  
10 http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv%3AOJ.L_.2016.345.01.0027.01.ENG 
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. 
11  The  review  was  published  as  technical  annex  to  the  first  5-annual  Report  from  the  Commission  to  the  European 
Parliament  and  the  Council  on  the  application  of  ESA  2010  and  granted  derogations  due  on  1  July  2018 
(COM(2008)506); https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52018DC0506.  
12 https://ec.europa.eu/eurostat/web/esa-2010/esa-2010-implementation-and-data-quality  
13 https://ec.europa.eu/info/files/report-quality-sources-and-methods_en  

13 

 
 
                                                           
information  for  the  statistical  domains  Balance  of  Payments  and  International  Investment 
Position, Financial Accounts, House 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 website14 when available.  

Moreover, in  the context  of the MoU, joint  ECB-Eurostat  visits  to  the Member States have taken 
place, focussing on BoP and Financial Accounts. The first two pilot joint visits took place in 2017 
in Belgium and Greece. In 2018 Eurostat and the ECB have visited Luxembourg and Poland. 

The  rest  of  this  document  presents  MIP  scoreboard  and  auxiliary  indicators  by  different 
perspectives:  Chapter  1  and  Chapter  2  illustrate  the  headline  and  auxiliary  indicators  by  year 
respectively,  Chapter  3  focuses  on  the  evolution  of  indicators  in  time,  while  Chapter  4  and 
Chapter 5  present  the  scoreboard  and  auxiliary  indicators  by  Member  State  respectively,  finally 
Chapter 6 illustrates untransformed scoreboard indicators by year. 

14 http://www.cmfb.org/publications/mip-documents  

14 

 
 
 
 
                                                           
Chapter 1: Tables by year - Headline indicators  

Table 1.1: MIP Scoreboard 2017 

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-0.3 52.6 0.9 3.9 1.1 1.5p-1.5 187.0 103.4 7.8b0.7 0.3b-0.8b-3.9bBG3.1 -42.8 -3.3 19.4 13.6p6.2 6.2 100.1 25.6 7.7 1.1 2.3 -3.5 -10.9 CZ1.0 -26.5 5.4 8.2 5.9 9.1p4.1 67.4 34.7 4.0 22.9 2.4 -1.7 -8.0 DK8.1 56.3 -2.1 0.5 3.0 3.2 -1.4 204.0 36.1 6.0 4.1 0.7b-0.4b-1.6 DE8.4 54.0 -2.5 6.5 5.1 2.9 4.9 100.1 63.9 4.2 4.0 0.5 -0.6 -0.9 EE2.3 -31.4 2.9 2.6 12.4 1.8 3.6 106.4 8.7 6.3 9.7 3.6 -1.4 -2.9 IE2.9 -149.3 -6.2 64.4 -17.2 9.5p-7.5 243.6 68.4 8.4 4.3 0.9 -3.6 -9.0 EL-0.8 -142.5 -2.8 -10.0 -1.0p-2.2e-0.8p116.4p176.1 23.3 -12.9 0.9 -3.9 -8.8 ES1.8 -83.8 -2.5 9.8 0.0p4.5 0.2p138.8p98.1 19.6 4.0 -0.3 -5.2 -14.6 FR-0.6 -20.1 -2.9 2.7 1.3p1.8 7.0p148.2p98.5 10.0 4.3 0.5 -0.3 -1.9 HR3.6 -62.4 0.0 20.0 -4.3d2.8 1.2 98.4 77.5 13.5 3.9 0.3 -5.5 -17.7 IT2.3 -5.3 -3.1 2.0 1.1 -2.0p2.1 110.5 131.2 11.6 4.3 1.5 -1.2 -8.0 CY-5.0 -121.5 -6.6 6.9 -2.7p1.3p8.7p316.3p96.1 13.0 -2.3 -0.4 -3.2 -11.3 LV0.6 -56.3 1.7 7.8 14.7 5.5 0.3 83.5 40.0 9.4 6.1 2.4 -1.3 -2.6 LT-0.7 -35.9 2.3 9.7 16.0 5.4 3.7 56.1 39.4 8.0 14.0 2.2 -2.1 -6.0 LU5.0 47.0 -0.9 25.2 7.1 4.1 -15.5 322.9 23.0 6.1 -1.7 -0.6 0.5 -6.9 HU4.0 -52.9 0.1 11.3 6.7 3.3 0.9 71.4 73.3 5.4 -8.0 4.2 -2.0 -9.7 MT8.4 62.6 -2.3 11.2 1.7 4.1p2.9 120.2 50.9 5.2 4.7 4.4 -1.1 -1.2 NL8.3 59.7 -1.6 1.2 -0.2p6.0 3.0p252.1p57.0 5.9 2.0p0.7 -1.0 -3.8 AT2.1 3.7 0.3 2.3 3.7 3.5 4.3 122.5 78.3 5.7 1.8 1.0 0.3 -0.5 PL-0.3 -61.2 -3.4 28.4 4.5p1.7 2.7 76.4 50.6 6.2 6.3 1.7 -2.3 -9.1 PT0.4 -104.9 -0.7 14.6 3.5p7.9 1.3p162.2p124.8 10.9 1.8 1.5 -3.9 -10.9 RO-2.2 -47.7 -5.5 37.0 11.9p4.0 1.7p50.8p35.1 5.9 8.1 1.6 -0.8 -5.7 SI5.7 -32.3 -2.0 18.6 3.4 6.2 0.8 75.6 74.1 7.9 5.1 3.3 -2.2 -9.0 SK-2.0 -65.6 -1.9 6.7 6.9 4.4 5.9 96.1 50.9 9.8 17.9 1.8 -4.2 -10.8 FI-0.7 2.4 -2.6 -4.3 -2.5 0.5 8.2 146.4 61.3 8.9 -3.8 1.3 0.2 -0.4 SE4.0 1.8 -5.4 -4.3 3.7 4.6 13.1 194.4 40.8 7.0 6.8 1.0 -0.2 -5.1 UK-4.6 -8.6 -10.7 -1.0 5.4 2.4 8.4 169.0 87.4 4.8 -1.6 0.9 -1.1 -4.9 Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=sourceNCBforEL.3)ForNominalunitlabourcostHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.4)Unemploymentrate,Activityrate,Long-termunemploymentrateandYouthunemploymentrate:BE:Revisioninthesurvey methodology; IE: introduction of the new Labour Force Survey in substitution to the Quarterly National Household Survey as data source; DK: data collection improvement, introduction of computer-assisted web interviewing.      (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 volume exports of goods and services)Year2017External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
Table 1.2: MIP Scoreboard 2016 

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-0.8 57.3 -0.3 -2.3 -0.4 1.1p23.0 198.9 106.1 8.3 2.4 0.1 0.1 -3.6 BG1.3 -49.2 -4.7 8.2 9.1p7.1 4.1 104.8 29.6 9.4 11.2 0.3 -2.9 -11.2 CZ0.7 -26.9 -3.6 2.5 2.7 6.7p4.5 68.9 36.8 5.1 16.3 2.1 -1.3 -8.4 DK8.4 55.3 -1.7 -2.9 3.3 4.7 2.2 213.3 37.9 6.3 4.4 1.9b-0.4b-1.0 DE8.3 50.7 -2.6 2.6 4.7 5.3 3.7 98.5 67.9 4.6 5.1 0.3 -0.6 -0.7 EE1.5 -38.9 4.4 0.0 12.0 3.8 6.0 112.2 9.2 6.8 6.9 2.4 -1.7 -5.3 IE0.4 -170.7 -7.0 58.7 -18.8 6.6p-15.6 283.3 73.4 10.1 1.5 0.9 -3.8 -9.9 EL-1.0 -139.7 -4.0 -19.1 -3.3p-1.5e-2.1p124.0p178.5 25.0 -16.6 0.7 -1.5 -11.0 ES1.5 -85.3 -4.3 2.7 -0.5p4.6 -1.2p146.8p99.0 22.1 0.8 -0.1 -3.5 -11.1 FR-0.7 -14.9 -3.1 1.3 1.3p1.1 7.0p146.6p98.2 10.3 4.5 0.7e0.2 -0.3 HR3.0 -69.9 0.1 7.8 -5.1d2.1 -0.1 105.3 80.2 15.6 3.3 1.9 -4.4 -18.1 IT2.0 -9.9 -3.3 -3.2 1.6 -0.2p-0.1 111.8 131.4 12.1 3.3 1.5 -0.2 -2.2 CY-3.6 -123.0 -7.4 -2.1 -6.9p1.7 9.7p337.8p105.5 14.7 1.8 -0.2 -0.3 -9.8 LV-0.2 -58.4 4.9 9.4 16.9 7.3 0.3 88.0 40.3 10.1 5.8 2.3 -1.7 -5.9 LT0.0 -42.7 5.3 5.1 15.3 4.5 4.4 56.1 39.9 9.2 16.6 3.1 -2.1 -7.4 LU5.1 47.2 -1.4 31.5 3.6 5.9 5.2 353.4 20.7 6.3 4.5 0.1 0.4 2.2 HU3.5 -58.5 -5.1 -0.2 3.8 13.6 -3.0 77.9 75.9 6.5 19.3 5.4 -2.5 -13.7 MT6.7 45.2 -2.8 10.0 0.2 4.8 11.3 123.5 56.3 5.8 3.8 4.3 -0.9 -1.8 NL7.6 62.7 -2.2 -2.9 -0.6p4.4 5.6 262.1 61.9 6.8 6.0 0.3 0.0 -2.4 AT2.2 3.7 1.0 -3.3 5.3 7.0 3.4 124.1 83.0 5.8 -2.6 0.7 0.6 1.5 PL-1.1 -61.7 -5.0 17.8 2.5p2.3 5.2 81.6 54.2 7.6 9.0 1.8 -2.2 -9.6 PT0.3 -105.5 -1.8 5.5 0.1 6.1 -2.1 169.3 129.2 12.6 -0.3 0.7 -3.1 -9.9 RO-1.3 -48.9 -2.5 23.3 9.5 5.0 0.6 55.6 37.3 6.5 6.9 0.7 -0.2 -3.1 SI5.3 -36.8 -0.5 4.0 0.9 3.8 -0.8 80.6 78.7 8.9 3.2 1.1 -0.9 -6.4 SK-0.9 -66.6 -1.5 8.1 3.1 7.0 9.5 90.5 51.8 11.5 8.5 2.0 -4.2 -11.5 FI-1.1 3.3 0.5 -13.8 1.3 -0.3 1.4 148.5 63.0 9.0 3.9 0.7 0.6 0.2 SE4.4 5.0 -9.1 -7.4 2.5 7.6 7.5 188.2 42.4 7.4 9.3 1.0 -0.1 -4.7 UK-5.0 -2.4 0.2 1.0 3.0 5.4 11.5 170.0 87.9 5.4 11.7 0.9 -1.4 -7.7 Year2016External imbalances and competitivenessFigures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=sourceNCBforEL.3)ForNominalunitlabourcost:HR,d:employmentdatausenationalconceptinsteadofdomesticconcept.4)Privatesectordebt,Privatesectorcreditflow,Totalfinancialsectorliabilities:significantrevisionsinthetimeseriesofNL due to the 2018 national accounts benchmark revision.       (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 volume exports of goods and services) Internal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 1.3: MIP Scoreboard 2015 

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-0.7 45.9 -1.6 -11.9 1.3 1.2p12.4 180.9 106.5 8.5 2.7 0.7 1.0 2.3 BG0.8 -63.0 -4.2 11.8 14.9p1.6b-0.3 110.5 26.2 11.2 6.2 2.2 -1.2 -6.5 CZ0.0 -32.9 -8.0 -2.2 0.1 3.8p0.3 68.1 40.0 6.1 8.1 2.4 -0.6 -6.9 DK8.3 34.5 -1.6 -8.5 3.0 6.2 1.8 213.1 39.9 6.6 -1.1 -0.1 -0.4 -3.3 DE7.7 46.4 -2.1 -2.6 5.4 4.1 3.2 98.2 70.8 4.9 2.9 0.4 -0.4 -0.8 EE1.1 -40.2 5.9 7.4 13.2 7.0 2.7 113.5 9.9 7.4 8.6 1.9 -3.1 -7.8 IE2.3 -198.7 -6.4 37.8 -18.6 11.0p-2.3 306.0 76.8 11.9 9.6 1.0 -3.9 -10.6 EL-1.3 -136.1 -5.6 -21.0 -9.7p-3.6e-2.8p126.7p175.9 26.3 15.3 0.3 3.7 -5.5 ES1.3 -89.5 -3.1 -4.0 -0.3 3.8 -1.8 154.8 99.3 24.2 -1.2 0.0 0.4 -4.6 FR-0.6 -12.9 -2.8 -3.7 2.3 -1.8 4.6 142.8 95.6 10.3 2.2 1.0e0.5 0.3 HR2.4 -76.4 0.2 -6.1 -6.3d-2.4 -1.4 113.0 83.7 16.9 1.9 3.0 0.0 0.1 IT1.5 -19.5 -2.4 -9.3 1.6 -4.0 -1.4 115.1 131.6 12.2 1.3 0.5 1.3 5.0 CY-3.6 -145.0 -6.1 -12.2 -10.9 0.2bp4.1 353.5 108.0 15.7 11.1 0.4 3.2 5.1 LV-1.6 -63.5 2.6 12.5 17.5 -2.4 0.7 88.9 36.8 10.9 12.2 1.3 -3.3 -12.2 LT0.6 -43.4 4.3 14.9 11.8 4.6 2.4 54.8 42.6 10.5 7.0 2.3 -2.7 -10.4 LU5.2 30.8 -0.6 28.7 2.6 5.3 27.6 379.4 22.2 6.1 17.3 1.5b0.3b-1.4 HU2.7 -67.5 -7.1 -9.2 -0.6 13.3 -2.5 84.6 76.6 8.2 0.4 4.9 -1.9 -10.9 MT5.3 50.8 -2.7 -2.3 -0.4 4.0 2.7 122.5 58.6 6.3 1.3 4.9 -0.6 -2.2 NL8.2 50.1 -0.8 -6.8 -0.4 3.4 0.9 264.2 64.6 7.2 3.8 0.6 1.1 -0.4 AT2.0 2.2 1.4 -9.2 6.2 3.3 2.2 124.2 84.8 5.6 -0.1 0.4 0.5 1.2 PL-1.3 -62.1 -1.3 9.2 0.2 2.6 3.5 78.9 51.3 8.9 2.4 1.6 -1.1 -5.7 PT0.6 -113.2 -3.0 1.7 0.5 2.1 -1.9 179.4 128.8 14.4 -1.6 0.0 -0.5 -6.0 RO-1.0 -54.6 2.8 20.5 0.6 1.8 0.2 59.1 37.8 6.9 4.1 1.3 0.0 -0.9 SI4.9 -39.6 0.4 -4.4 -0.4 1.4 -5.0 86.7 82.6 9.6 -3.7 1.4 0.4 -4.3 SK0.4 -64.4 -1.1 4.2 2.1 5.5 8.2 83.3 52.2 13.0 10.8 1.5 -1.8 -7.5 FI-1.6 1.6 2.2 -21.4 3.7 -0.3 6.9 152.9 63.6 8.8 1.4 0.6 0.7 3.4 SE4.8 -1.2 -8.2 -9.3 2.5 12.1 7.4 188.3 44.2 7.8 2.4 1.4 0.0 -3.3 UK-5.0 -20.1 10.8 2.0 2.4 5.4 3.3 164.8 87.9 6.3 -8.5 0.8 -1.1 -6.6 Employment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)ForNominalunitlabourcostHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.5)Privatesectordebt,privatesectorcreditflow,totalfinancialsectorliabilities-LU:significantrevisionsduetoimprovedsourcesandmethods,particularlyfor2014-2015;NL:significantrevisionsdueto2018nationalaccountsbenchmarkrevision.6)Privatesector debt: significant increases for IE due to re-domiciling of large multinational corporations and movement of large parts of their balance sheets; 7) Unemployment rate, Activity rate, Long-term unemployment rate and Youth unemployment rate: LU change in sampling strategy and data collection technique.      (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 volume exports of goods and services) Year2015External imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
Table 1.4: MIP Scoreboard 2014 

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 ppBE-0.4 45.1 -0.6 -13.4 5.6 -1.3 -2.1 166.8 107.6 8.2 3.3 1.0 0.8 4.5 BG0.6 -72.4 -2.8 5.6 17.8p1.5 -1.1 123.4 27.1 12.2 5.6 3.1b0.6 -1.2 CZ-0.6 -36.6 -10.0 -6.2 4.0 1.8 1.7 71.5 42.2 6.7 5.2 3.0b0.0 -2.2 DK7.7 43.3 -1.2 -15.9 2.3 3.1 -0.3 214.0 44.3 7.0 7.3 -1.2 -0.1 -1.6 DE7.1 40.6 -0.4 -8.9 6.7 2.2 0.1 98.6 74.5 5.2 4.6 0.4b-0.6 -0.8 EE-0.2 -47.0 4.8 20.5 14.1 12.6 5.6 116.1 10.5 8.7 13.2 0.5 -3.8 -7.4 IE0.0 -164.3 -3.6 -14.6 -3.7 15.1p2.5 278.3 104.1 13.7 19.5 0.6 -2.2 -6.2 EL-2.5 -131.9 -5.6 -18.5 -10.4p-5.1e-2.8p129.2p178.9 26.2 -8.2 0.1 10.7 7.7 ES0.8 -98.0 -1.0 -12.3 -3.4 0.1 -6.9 165.8 100.4 25.1 -0.4 0.3 4.0 7.0 FR-0.8 -15.6 -1.3 -14.5 4.4 -1.7 3.2 141.5 94.9 10.1 5.6 1.3e0.5 1.6 HR0.9 -85.3 -0.8 -20.3 -6.5d-1.1 0.1 118.0 84.0 16.8 0.7 2.0 1.7 8.3 IT0.9 -21.0 0.2 -15.3 2.3 -5.0 -0.5 119.0 131.8 11.8 0.6 1.8 3.4 13.5 CY-5.1 -147.0 -1.7 -24.1 -8.0 -1.0p-0.3 352.4 108.0 14.6 -3.6 0.8 6.1 13.6 LV-2.7 -66.1 0.4 11.0 16.3 4.3 -11.8 96.2 40.9 12.6 10.4 1.8 -4.2 -11.4 LT0.9 -45.1 1.7 33.7 8.7 6.3 0.3 53.9 40.5 12.0 16.2 2.3 -3.2 -13.3 LU5.4 48.6 0.5 14.9 7.1 3.9 29.7 356.6 22.7 5.7 36.0 2.9 0.2 5.9 HU2.3 -80.3 -6.8 -16.7 5.7 3.4 -0.1 91.4 76.6 9.6 8.4 4.6 -1.5 -5.6 MT4.4 43.2 0.1 -12.5 3.3 2.1 3.9 135.7 63.7 6.6 6.4 6.0 -0.3 -1.5 NL9.5 48.0 0.7 -11.3 3.7 -0.1 3.7 268.1 67.9 6.8 4.8 0.9b1.3 2.7 AT2.0 3.4 1.9 -15.7 7.9 1.4 0.9 124.8 84.0 5.3 -0.8 0.8 0.3 1.4 PL-2.4 -69.1 -1.0 4.7 2.9 1.2 4.6 78.1 50.4 9.8 0.7 2.2 0.2 -1.9 PT0.0 -118.6 -1.8 -6.1 -2.7 3.9 -5.7 190.5 130.6 15.4 -7.5 -0.4b2.2 4.5 RO-2.2 -57.3 -1.0 20.1 5.4 -3.1 -2.4 62.1 39.2 6.9 1.3 1.6 -0.1 0.1 SI4.1 -45.8 1.2 -12.9 0.0 -6.6 -4.7 97.4 80.4 9.6 -0.2 0.6 1.7 4.5 SK1.3 -63.6 1.2 1.9 1.8 1.5 5.7 82.5 53.5 13.8 8.7 1.6b0.1 -4.0 FI-2.1 -3.2 2.7 -26.4 7.8 -1.6 1.7 149.8 60.2 8.2 9.2 0.5 0.2 0.4 SE5.1 -2.3 -3.7 -9.6 6.9 8.3 4.9 194.7 45.5 8.0 13.0 1.6 -0.1 0.1 UK-4.6 -22.1 10.1 -9.6 3.4 6.0 6.7 166.0 87.0 7.2 4.8 1.2 -0.5 -4.3 Internal imbalancesEmployment indicators¹Year2014External imbalances and competitivenessFigures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)ForNominalunitlabourcost HR, d: employment data use national concept instead of domestic concept. 5) Private sector debt, private sector credit flow, total financial sector liabilities - LU: significant revisions due to improved sources and methods, particularly for 2014-2015; NL: significant revisions due to 2018 national accounts benchmark revision.      (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 volume exports of goods and services)    
 
 
 
 
 
 
Table 1.5: MIP Scoreboard 2013 

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-0.5 51.9 -0.2 -13.1 8.3 0.4 8.2 169.2 105.5 7.7 0.9 -0.2 -0.1 1.3 BG0.3 -73.3 -0.9 -0.2 16.0p0.4 7.3 132.3 17.1 12.2 4.3 1.7b2.7 6.5 CZ-1.4 -41.4 -3.0 -9.8 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 -17.8 1.5 3.2 -3.0 216.1 44.0 7.4 1.8 -1.3 0.3 -0.9 DE6.6 34.5 -1.8 -12.4 5.9 2.1 2.0 102.7 77.4 5.5 -6.2 0.9b-1.0 -2.0 EE0.0 -50.1 3.1 9.7 9.1 7.5 3.5 115.9 10.2 10.3 10.4 1.2 -3.8 -14.2 IE-1.2 -133.3 -3.8 -10.6 -3.8 -0.5p-1.4 267.7 119.7 14.9 1.9 0.2 1.1 -1.4 EL-5.3 -130.4 -4.4 -25.7 -10.0p-9.1e-4.8p130.3p177.4 23.3 -17.6 -0.3 12.8 25.3 ES-0.6 -95.2 -0.3 -11.2 -4.1 -10.0 -10.4 177.2 95.5 24.1 -10.9 0.8 5.7 14.0 FR-0.8 -16.6 -2.2 -14.2 4.6 -2.6 2.1 137.4 93.4 9.8 0.5 0.9e0.5e1.6 HR0.0 -88.3 -3.9 -23.3 -4.0d-5.8 -0.6 117.7 80.4 15.6 2.8 -1.4 4.4 17.6 IT-0.8 -22.7 0.1 -20.2 2.9 -7.5 -3.0 121.6 129.0 10.4 -2.7 1.4 2.9 12.1 CY-5.0 -138.7 -0.8 -15.3 -2.6 -3.9p-13.3 340.1 103.1 11.9 -15.3 0.0 4.8 22.3 LV-3.2 -66.4 -1.7 5.9 8.1 6.5 0.9 92.6 39.0 14.4 5.2 1.0 -3.1 -13.0 LT-1.7 -47.1 -0.6 19.3 6.2 0.2 -0.4 56.3 38.8 13.5 -1.4 2.2 -2.3 -13.8 LU5.7 53.9 0.8 7.4 7.6 3.3 27.8 313.3 23.7 5.3 10.3 1.7 0.5 1.1 HU2.1 -83.1 -3.8 -22.8 6.2 -4.3 -0.9 95.2 77.1 10.7 -1.3 2.8 -0.6 0.2 MT1.4 27.0 -1.2 -0.6 9.8 -1.4 2.7 143.9 68.4 6.8 1.6 5.9 -0.3 -0.3 NL9.5 30.7 0.5 -11.4 4.8 -7.9 8.3 254.9 67.7 6.0 -0.5 1.2b1.3 2.1 AT1.7 1.3 0.8 -18.4 6.4 3.0 1.0 127.1 81.3 5.0 -3.2 1.1 0.1 0.2 PL-3.4 -68.9 -4.3 -0.3 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 -7.5 -3.4 -2.7 -1.6 202.4 129.0 15.0 -5.4 -0.7 3.6 9.9 RO-3.6 -62.8 0.5 13.7 -5.6 -2.7 -1.4 66.8 37.6 7.0 0.8 0.0b0.8 1.6 SI2.2 -47.2 -0.6 -18.4 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 -4.1 2.2 -0.4 5.1 76.9 54.7 14.0d1.7 1.2 0.8 -0.2 FI-2.1 3.9 0.2 -31.4 9.1 -1.3 2.8 147.7 56.5 7.9 -11.6 0.7 -0.3 -1.5 SE5.5 -16.0 5.1 -17.2 8.6 4.7 4.5 195.4 40.7 7.9 9.1 2.0 -0.2 -1.2 UK-3.6 -18.0 3.4 -12.0 3.3 0.3 7.0 172.8 85.2 7.8 -7.7 1.0 0.2 0.8 Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)ForNominalunitlabourcost HR, d: employment data use national concept instead of domestic concept. 5) Private sector debt, Private sector credit flow, Total financial sector liabilities: significant revisions in the time series of NL due to the 2018 national accounts benchmark revision.      (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 volume exports of goods and services)Year2013External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
Table 1.6: MIP Scoreboard 2012 

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 ppBE0.2 51.8 -4.3 -15.6 5.4 0.3 13.2 189.3 104.3 7.7 -5.1 0.0 -0.1 -2.1 BG-0.7 -77.9 -4.0 -1.0 12.2p-5.3 3.0 125.0 16.7 11.3d10.2 -0.1 3.8 13.0 CZ-2.4 -45.9 0.5 -4.5 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 -17.7 -0.1 -5.0 7.9 224.0 44.9 7.5 2.5 -1.6 1.5 2.3 DE6.2 28.5 -9.0 -16.6 2.7 2.0 1.3 101.8 79.9 6.1 3.3 0.9 -1.1 -3.1 EE0.4 -51.1 -3.6 6.8 0.0 3.2 6.8 117.8 9.7 13.0 10.5 0.8 1.8 -6.5 IE-2.3 -137.7 -12.2 -16.3 -12.7 -14.8p-0.6 279.6 119.9 15.2 -1.8 -1.9 5.7 6.3 EL-8.4 -115.9 -5.0 -25.3 -2.3p-12.1e-5.9p131.5p159.6 18.4 -2.4 0.1b10.6 29.6 ES-2.4 -89.9 -5.3 -18.2 -5.1 -16.8 -11.2 188.0 85.7 22.0 2.9 1.2 6.7 15.2 FR-0.8 -12.8 -7.8 -18.3 4.1 -2.0 4.2 138.3 90.6 9.4 1.4 0.5e0.8e0.8 HR-0.7 -90.7 -8.4 -24.1 -1.5d-4.6 -3.0 120.0 69.4 13.8 1.2 -1.7 5.1 16.8 IT-2.2 -22.2 -6.2 -25.6 2.1 -5.1 -0.8 125.1 123.4 9.2 7.3 1.2 2.2 10.0 CY-7.1 -129.1 -5.9 -21.7e2.9 -5.2p16.5 328.1 80.1 8.7 6.4 0.5b3.0 13.9 LV-1.6 -67.2 -8.6 7.9 -6.9 -0.4 -2.1 97.9 41.2 16.9 5.2 0.9 3.3 -4.8 LT-2.4 -53.6 -6.7 32.3 -4.2 -3.2 0.4 61.1 39.8 15.5 -0.7 2.2 3.3 -2.9 LU6.1 50.9 -2.4 -10.2 5.9 2.2 25.9 303.7 22.0 4.8 15.2 0.7b0.4 1.5 HU0.9 -93.6 -0.8 -21.3 5.0 -9.3 -6.1 101.8 78.4 11.1 -5.8 2.5 0.8 1.8 MT-1.1 19.6 -7.6 12.2 8.7 0.4 -0.7 153.2 67.7 7.0 6.1 4.5 0.1 -0.4 NL8.6 26.7 -6.0 -12.8 2.6 -7.9 5.5 250.7 66.2 5.3 5.0 -0.7 1.1 1.5 AT2.0 -3.2 -4.7 -21.7 3.8 4.8 1.2 128.2 81.9 4.8 0.4 0.8 0.0 -1.3 PL-4.8 -65.3 1.4 1.4 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 -16.6 -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 12.3 4.3b-9.2 0.3 72.1 36.9 7.0 4.4 1.7 0.8 2.6 SI0.7 -50.1 -4.5 -21.0 0.6 -8.4 -2.9 112.3 53.8 8.1 -0.7 -1.4 2.5 7.0 SK-2.9 -61.4 -3.2 -10.3 0.8 -6.0 3.1 71.8 52.2 14.1d0.7 1.0 2.9 6.4 FI-1.0 11.7 -8.3 -31.7 6.0 -0.4 7.4 148.6 53.9 8.0 -1.4 0.2 0.2 -2.5 SE5.7 -15.7 10.3 -19.5 4.0 0.7 2.5 193.1 38.1 8.1 5.5 1.4 0.4 -1.3 UK-3.0 -28.4 6.0 -21.0 3.0 -1.7 1.7 178.4 84.1 7.9 -3.5 0.4 0.8 2.1 Internal imbalancesEmployment indicators¹Year2012External imbalances and competitivenessFigures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)ForNominalunitlabourcost HR, d: employment data use national concept instead of domestic concept. 5) Private sector debt, Private sector credit flow, Total financial sector liabilities: significant revisions in the time series of NL due to the 2018 national accounts benchmark revision.      (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 volume exports of goods and services) 
 
 
 
 
 
 
Table 1.7: MIP Scoreboard 2011 

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 ppBE-0.1 60.9 -1.5 -7.6 5.3 1.0 21.7 181.5 102.6 7.8 5.4 -0.4 0.2 0.7 BG-3.2 -82.8 1.9 11.3 17.7 -8.7 1.4 124.2 15.2 9.5d5.4 -1.9b3.4b13.1 CZ-2.6 -45.2 -0.5 7.4 3.4 -1.7 2.1 68.3 39.8 6.9 4.3 0.8b0.5b8.2 DK5.5 27.8 -2.5 -13.8 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 -9.1 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 24.3 -2.6 2.6 -1.1 120.4 6.1 14.2 -0.2 0.5 5.4 10.4 IE-3.3 -139.8 -9.6 -10.3 -16.5b-17.8p16.4 274.0 110.9 14.2 -2.3 -3.6 7.1 16.1 EL-11.2 -88.8 1.8 -15.8 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 -8.6 -1.0 -9.8 -3.7 196.4 69.5 19.7 3.0 1.2 6.9 21.7 FR-0.7 -8.7 -4.4 -15.4 5.4 4.0 6.4 135.3 87.8 9.2 6.9 0.3e1.1e3.6 HR-2.4 -91.5 -4.7 -16.0 6.3d-2.1 -2.3 122.7 63.8 11.6 2.0 -1.7 3.1 13.0 IT-2.8 -18.3 -3.2 -19.3 5.3 -1.5 3.1 122.7 116.5 8.2 5.1 -0.8 1.3 8.0 CY-7.7 -129.9 -3.0 -11.4e9.6 -4.3p13.0 321.6 66.2 6.5 -6.1 -0.1 1.1 13.4 LV2.2 -74.4 -2.4 26.6 -21.0 4.1 -2.0 115.3 42.7 17.7 -4.1 -1.4 6.9 17.4 LT-1.5 -52.7 1.7 29.6 -7.8 2.4 -2.2 64.7 37.2 15.7 2.0 3.0 6.7 19.3 LU6.6 28.9 0.1 -3.8 8.8 0.5 21.4 284.3 18.7 4.8 10.9 1.1 -0.2 -0.9 HU0.1 -105.7 -4.2 -2.4 4.3 -6.9 -4.4 114.5 80.5 10.7 6.3 1.2 1.6 6.5 MT-3.8 6.3 -5.0 17.7 11.1 -3.5 5.4 159.8 70.1 7.1 11.0 2.7 0.4 1.6 NL7.0 20.1 -2.4 -8.3 5.3 -4.0 7.6 246.4 61.7 4.8 9.5 -1.2b0.7b1.4 AT2.4 -1.9 -1.8 -12.5 5.8 3.0 3.0 129.4 82.4 4.9 1.5 0.7 0.2 0.4 PL-4.8 -62.4 -11.4 15.2 4.2 -4.6 6.7 73.9 54.1 9.2d4.8 1.9 1.2 8.6 PT-8.9 -100.7 -3.0 -8.6 -0.6 -6.4 -0.9 204.1 111.4 11.9 -4.5 -0.3b2.6b8.6 RO-4.9 -65.8 -3.2 50.0 4.2 -16.0 2.8 73.7 34.0 6.9 4.6 1.2 0.5 6.3 SI-0.2 -45.2 -1.1 -5.8 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 -2.7 6.1 -5.2 3.0 70.2 43.7 13.4d0.3 -0.1b2.6b14.4dFI0.3 15.1 -2.8 -23.5 9.4 0.0 3.6 145.4 48.5 8.1 28.8 -1.1 0.5 3.6 SE5.8 -8.5 3.2 -12.2 5.6 0.8 6.9 191.3 37.8 8.2 2.8 0.6 0.7 2.6 UK-3.0 -11.3 -7.8 -25.7 6.7 -5.0 1.6 178.5 80.8 7.8 10.4 -0.3b1.3 6.3 Year2011External imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)ForNominalunitlabourcost HR, d: employment data use national concept instead of domestic concept. 5) Private sector debt, Private sector credit flow, Total financial sector liabilities: significant revisions in the time series of NL due to the 2018 national accounts benchmark revision.      (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 volume exports of goods and services) 
 
 
 
 
 
 
Table 1.8: MIP Scoreboard 2010 

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 ppBE-0.1 65.2 0.5 -11.4 7.3 1.4 1.7 169.2 99.7 7.7 -1.6 0.6 0.2 3.6 BG-10.7 -91.9 9.7 8.1 29.5 -12.3p3.7 132.5 15.3 7.6d-5.4 0.4b0.6b7.8dCZ-2.6 -46.0 12.1 11.7 6.4 -2.2 2.6 67.9 37.4 6.1 3.2 0.3 0.2 7.6 DK4.3 12.8 0.2 -10.6 9.5 0.3 -2.9 220.6 42.6 5.6 9.7 -0.7 0.9 6.4 DE5.7 25.6 -3.7 -7.8 7.5 -0.9 0.0 106.7 81.0 7.3 -1.1 1.1b-1.6b-2.0 EE-1.5 -71.2 4.6 9.4 13.8 2.2 -7.6 140.4 6.6 11.9d-8.9 0.7 5.3 22.8 IE-4.8 -114.5 -5.4 -6.3 -4.8 -11.7p2.2 257.0 86.0 11.3 6.3 -4.0b5.5 18.9 EL-12.9 -99.0 2.8 -14.3 14.0 -8.0e2.4 128.1 146.2 10.0 8.4 1.3 1.5 10.3 ES-5.8 -88.6 -0.3 -11.7 5.7 -3.6 0.9 200.6 60.1 16.4 -1.8 1.7 5.6 23.4 FR-0.6 -9.3 -2.2 -17.2 7.4 3.6 4.6 132.0 85.3 8.6 3.5 0.5e0.6e3.8 HR-5.2 -94.0 1.8 -13.2 11.7d-7.7 4.9 125.2 57.3 9.9 3.5 -0.6 0.6 6.9 IT-2.7 -20.2 -1.9 -19.0 8.9 -0.7be5.0 123.3 115.4 7.6 4.2 -0.4 1.1 7.5 CY-11.5 -111.2 0.0 -15.8e11.1 -7.8p15.1 315.6 56.8 5.1 8.4 -0.3 0.6 6.4 LV-0.8 -82.9 6.7 21.7 -2.2 -8.7 2.5 134.0 46.8 14.9 -0.3 0.4 7.2 25.6 LT-4.5 -56.2 7.2 19.0 0.3 -8.6 -5.9 74.5 36.2 12.5 0.1 2.3 6.0 27.3 LU7.1 -20.4 1.2 3.2 16.0 4.2 -22.5 284.2 19.8 4.9 13.1 1.3b0.1 0.2 HU-2.5 -108.3 -1.3 3.4 7.0 -5.9 -4.1 115.1 80.2 9.7d-0.3 0.3 2.0 8.3 MT-4.1 12.1 -0.7 37.8 9.2 -1.0 7.5 162.4 67.5 7.0 12.4 1.6 0.4 -0.2 NL5.8 11.0 -1.5 -8.2 7.7 -3.3 2.8 244.2 59.3 4.4 4.8 -0.3b0.0b1.7 AT3.3 -5.2 -2.0 -12.6 9.0 4.4be0.3 132.3 82.7 4.7 -1.9 0.9b-0.1 0.1 PL-5.3 -65.1 -1.3 24.7 11.3b-6.0e4.3 69.7 53.1 8.3d13.6 2.1b-1.9b2.1 PT-10.9 -104.3 -3.1 -6.9 4.2 -1.0 5.3 201.5 96.2 10.5 11.5 -0.2 1.9 6.8 RO-7.1 -63.9 -10.9 53.3 38.3 -12.7 0.9 74.7 29.7 6.4 5.0 1.9b-0.8b2.8 SI-2.0 -47.2 1.2 -1.7 16.1 -1.3 1.9 115.1 38.4 5.9 -3.4 0.2 1.0 4.6 SK-4.9 -61.9 11.0 3.8 9.5 -4.9 2.9 67.4 41.2 12.1 1.6 0.4 0.9 13.3 FI1.6 16.5 -1.3 -19.7 13.2 4.8 7.3 148.9 47.1 7.7 19.9 -1.1 0.5 4.9 SE6.6 -5.6 -3.3 -12.8 8.3 6.4 5.3 189.1 38.6 7.7 2.7 0.0 0.8 5.6 UK-3.7 -7.6 -20.4 -23.6 8.7 4.0 -0.8 184.1 75.2 7.0 7.3 -0.1b1.2 5.6 Internal imbalancesEmployment indicators¹Year2010External imbalances and competitivenessFigures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforPL;e=sourceNCBforEL,IT,and AT. 4) For Nominal unit labour cost HR, d: employment data use national concept instead of domestic concept. 5) Private sector debt, Private sector credit flow, Total financial sector liabilities: significant revisions in the time series of NL due to the 2018 national accounts benchmark revision.      (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 volume exports of goods and services) 
 
 
 
 
 
 
Table 1.9: MIP Scoreboard 2009 

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 ppBE0.0 57.5 4.0 -9.0 10.0 0.0 12.1 172.0 99.5 7.5 0.3 0.4 -0.7 1.4 BG-18.1 -97.3 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 -37.1 -6.0 153.2 7.0 7.9d-7.8 1.2 0.8 15.3 IE-6.3 -116.5 5.2 1.9 8.6 -13.6 -4.5 256.1 61.5 8.1 3.4 -1.9 2.1 15.7 EL-14.2 -87.5 4.8 -10.3 15.8 -4.7e2.2 116.5 126.7 8.6 10.1 0.7b-1.0b0.7 ES-7.7 -93.5 4.6 -9.0 11.8 -5.8 -1.2 201.6 52.8 12.5 3.8 2.0 2.5 19.8 FR-0.4 -14.8 2.6 -13.6 8.0 -4.7 3.3 130.6 83.0 8.2 -0.6 0.6e-0.5e1.6 HR-7.2 -86.8 5.9 -5.2 15.8d-8.0 2.6 118.9 48.3 9.3 4.5 2.6e-1.6 -3.5 IT-2.0 -22.3 3.6 -17.9 11.1 -0.2e0.8 122.5 112.5 6.8 5.1 -0.3 0.1 3.5 CY-11.7 -100.3 3.6 -9.1e12.7 -6.9 13.3 306.0 54.3 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 -58.7 16.7 30.8 13.0 -32.8 -9.4 83.3 28.0 8.0 -4.3 2.0 0.7 19.6 LU8.2 -28.9 3.8 11.9 17.6 -0.6 7.4 332.2 15.7 4.7 6.8 2.0b-0.2b1.0 HU-4.9 -115.0 7.7 12.9 12.6 -8.9 6.1 116.5 77.8 8.4d1.9 -0.8 0.8 7.3 MT-3.2 12.6 5.9 45.8 11.2 -6.1 12.7 168.1 67.6 6.9 4.3 1.5 0.2 -0.9 NL5.8 1.4 2.7 -5.4 11.3 -3.0 9.7 245.4 56.8 4.1 8.4 2.3 -0.9 0.2 AT3.6 -5.0 2.0 -6.1 10.2 3.6e1.3 131.9 79.9 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 8.3d9.0 1.3 -5.3 -9.2dPT-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-9.9 -60.1 -4.9 69.4 28.7 -26.5e-1.6 69.8 22.1 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 FI2.5 3.2 5.0 -13.3 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 5.9 201.6 41.3 6.9 3.5 0.1 0.1 3.5 UK-3.8 -15.7 -19.9 -19.6 11.0 -9.7 -3.9 190.9 63.7 6.2 -17.0 0.0 0.7 5.2 Year2009External imbalances and competitivenessInternal imbalancesEmployment indicators¹1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforPLandRO;e=sourceNCBforEL, IT, and AT. 4) For Nominal unit labour cost HR, d: employment data use national concept instead of domestic concept.5) Private sector debt, Private sector credit flow, Total financial sector liabilities: significant revisions in the time series of NL due to the 2018 national accounts benchmark revision.      (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 volume exports of goods and services)Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional.  
 
 
 
 
 
 
Table 1.10: MIP Scoreboard 2008 

24 

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 1.1 16.5 162.7 92.5 7.6 -4.4 0.4 -1.1 -3.5 BG-21.0 -93.9 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 23.1 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 3.7d0.0 0.9 -0.6 -0.6 DE6.0 18.1 0.9 -4.5 -0.1 -0.3 0.5 109.7 65.2 8.7 4.6 2.1b-2.0 -5.0 EE-12.9 -75.4 12.6 37.0 48.7 -16.5 10.5 136.7 4.5 5.3d4.3 3.5 -2.7 -3.1dIE-6.3 -95.7 7.3 -16.7 17.8 -8.4 22.0 236.4 42.4 5.5 6.5 0.9 0.3 4.8 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 11.7 195.9 39.5 9.3 3.8 2.7b-0.2 4.9 FR-0.2 -13.8 1.5 -18.5 6.3 -1.9 9.8 122.4 68.8 8.1 2.1 0.2e-0.8e-2.0 HR-7.6 -73.8 5.6 -5.7 9.9d-2.6e16.1 110.8 39.0 10.0d-8.1 2.5e-2.1 -8.1 IT-1.9 -21.7 1.9 -15.9 8.5 -0.5e6.6 113.9 102.4 6.5 -1.5 0.4 -0.7 -2.9 CY-11.8 -79.1 2.3 -25.3e5.8 0.9 29.8 285.0 45.6 4.1 115.6 1.2 -0.8 -4.9 LV-17.9 -74.2 20.7 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 -51.9 8.9 43.1e28.8 -1.8 10.4 76.7 14.6 5.3 4.6 -0.3 -3.1u-2.5 LU9.1 16.3 3.4 15.7 12.6 0.2 -5.6 302.7 14.9 4.6d-6.9 0.2 0.4 2.7 HU-7.0 -101.7 7.9 25.3 11.4 -3.2 12.6 105.0 71.6 7.6d26.1 -0.1 0.4 0.1dMT-3.2 4.2 5.9 10.9 9.5 7.1 13.4 153.3 62.6 6.9 13.2 1.5b-0.8 -4.3 NL7.0 -8.0 -0.1 -6.1 5.7 0.1 12.0 230.5 54.7 4.3 2.6 2.4 -1.0 -3.2 AT3.9 -10.0 -0.1 -4.5 6.3 -1.1e5.4 126.7 68.7 4.8 10.9 2.5 -0.4 -2.5 PL-5.7 -55.6 13.9 51.4e10.5 -4.6e14.2 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-11.8 -51.2 9.4 91.9 32.9 :12.7 63.9 12.4 6.4 14.0 0.6 -1.6 -1.5 SI-3.8 -39.4 2.2 16.3 10.6 1.4 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 FI3.2 -4.6 -0.4 -4.4 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 18.9 189.1 37.7 6.5 12.0 1.1b-0.3 -2.4 UK-3.6 9.7 -11.5 -22.5 10.0 -8.2 12.8 189.6 49.7 5.4 46.7 0.4b0.4b2.2 Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. u: Low reliability. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforCZandPL;e=sourceNCBforEL, HR, IT, AT and PT. 4) For Nominal unit labour cost HR, d: employment data use national concept instead of domestic concept. 5) Private sector debt, private sector credit flow LU: significant revisions due to improved sources and methods; NL: significant revisions due to the 2018 national accounts benchmark revision.     (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 volume exports of goods and services)Internal imbalancesEmployment indicators¹Year2008External imbalances and competitiveness 
 
 
 
 
 
 
Chapter 2: Tables by year - Auxiliary indicators used in the economic reading of the MIP scoreboard   

Table 2.1: Auxiliary indicators, 2017 

25 

Year2017Real 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 international investment position excluding non-defaultable instruments (% 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)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE1.7 23.5 :0.8 45.0 -7.8 199.9 -2.5 2.8 -0.8 1.0 -0.3 0.3 2.7p1.4 8.2 5.9 60.1 13.2pBG3.8 18.5 0.8p7.7 33.1 3.8 88.4 -4.2 -3.0 14.0 5.7 0.5 2.0p10.2p50.9 19.5 2.9 20.4 7.7pCZ4.3 24.7 1.8p2.0 28.8 4.3 78.3 -2.6 5.8 3.3 3.1 1.4 2.7 2.8p1.0 24.4p3.9 29.7 12.4pDK2.3 20.5 :8.1 18.6 0.6 54.3 -0.1 -0.5 -4.0 2.9 -0.9 0.7 2.5p-0.2 17.7 4.6 128.0 16.4pDE2.2 20.3 3.0e7.9 41.5 2.1 42.1 -1.8 0.3 1.7 5.9 -0.7 0.7 1.8p8.4 16.0 6.1 52.7 14.1pEE4.9 24.4 :4.2 21.5 5.9 95.5 -0.6 2.5 -2.0 4.2 -1.8 2.1 1.9p22.5 18.1 4.3 39.4 6.8pIE7.2 23.5 1.1 -1.1 -259.1 0.3 435.6 -1.2 -2.1 57.0 -0.1 2.5 4.2 9.9p-39.2 32.8p2.0 47.7 6.6pEL1.5p12.9p1.1p-0.5 -126.4 1.8 17.6 -1.8p-1.7 -14.1 7.4p1.5p0.0p45.0p-12.9 -8.3e0.6p57.0 8.8pES3.0p20.5p:2.1 -58.1 0.6 58.6 -1.8p-1.0 4.8 0.8p-0.1p0.4p4.4p-11.1 15.1 5.2p61.1 13.5pFR2.2p22.5p:-0.5 -33.5 1.9 46.5 -1.7p-0.5 -1.9 5.0p-0.8p1.1p3.1p-0.2 2.6 6.2p58.6 15.2pHR2.9 20.1 :4.5 -17.3 3.6 58.7 -2.9 0.7 14.6 2.5 1.1 0.7d8.8p-15.0 1.7 :34.1 7.4pIT1.6 17.6 :2.7 -3.9 0.5 26.1 -1.9 -0.6 -2.6 7.6 0.4 0.4 11.2p-0.3 -4.6 4.4 41.3 12.2pCY4.2p20.9p:-7.9 -95.1 50.0 1017.8 -4.2p-3.7 2.1 0.9p0.7p0.4p30.7p-8.9 1.0p5.7p107.5 12.1pLV4.6 20.9 0.5p1.5 -7.6 3.8 59.0 -3.0 0.9 2.9 3.4 0.9 4.7 5.6p7.7 14.0 1.9 22.2 8.9pLT4.1 19.2 0.9 2.1 -7.9 2.4 40.9 -3.0 1.5 4.8 5.9 8.3 4.7 3.2p8.9 19.0 2.7 22.4 10.7pLU1.5 18.9 :4.5 -3947.3 -264.1 8263.3 -2.8 0.1 19.5 -0.1 -7.2 -1.8 0.7p14.9 18.0 3.2 65.9 13.2pHU4.1 22.2 1.4 4.2 -8.1 -9.3 211.0 -3.8 0.7 6.3 3.3 -0.6 2.1 8.4p6.3 35.8 2.8 18.8 9.7pMT6.7 21.1 0.6 14.3 229.6 27.3 1627.0 -8.9 1.4 6.2 2.7 -1.5 1.4 3.1p4.8 17.5p4.8 50.4 13.5pNL2.9p20.5p:10.4 -29.5 39.4 615.5 -0.8p-0.5 -3.3 1.7p0.0p0.7p2.1p-2.5 17.0 4.4p104.5p16.7pAT2.6 23.6 3.2p1.9 -4.1 3.7 66.7 -2.1 2.1 -2.3 1.9 -0.6 0.8 3.5p5.7 19.9 4.4 50.4 11.6pPL4.8 17.7 1.0 1.4 -20.7 2.0 49.7 -2.0 -3.0 22.7 6.1 4.2 3.4p6.6p1.7 7.4 2.8 34.9 8.8pPT2.8p16.6p1.3p1.4 -60.9 4.6 79.6 -2.1p0.9 9.5 7.3p2.5p-0.5p13.3p-8.2 20.6 2.8p68.9 10.6pRO7.3p22.6p:-2.0 -5.8 2.8 44.5 -1.3p-5.0 30.9 3.6p4.4p4.3p6.6p32.8 15.6 :16.1 9.6pSI4.9 18.5 :6.4 -17.7 2.2 37.3 -2.6 -1.4 13.3 3.6 5.4 1.9 9.2p1.1 12.5 2.1 27.1 8.0pSK3.2 21.4 0.9 -1.1 -15.1 6.3 72.4 -3.5 -1.5 1.9 -1.6 0.6 1.0 3.7p2.0 19.0 2.7 40.6 9.3pFI2.8 22.1 2.8 -0.6 6.1 5.8 55.0 -1.6 -1.0 -8.6 5.5 2.2 1.6 1.2p5.4 2.0 6.4 67.1 18.9pSE2.1 25.0 3.3 3.2 -7.0 5.8 4.2 -0.9 -3.9 -8.6 1.2 -2.1 -0.2 1.3p5.6 30.7 5.7 88.2 16.5pUK1.7 17.2 1.7p-3.8 -5.3 2.5 76.5 -0.6 -6.7 -5.4 5.3 0.4 0.7 1.5p5.0 18.5 4.0 86.2 15.0pFlags: d: Definition differs. e: Estimated. p: Provisional. 1) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018. 2) House price index e = source NCB for EL. 3) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeignentities),andInternational Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 2.1 (continued): Auxiliary indicators, 2017 

26 

%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 68.0b3.5b19.3b9.3b-2.7b20.3 -0.9 15.9 0.4 5.1 -0.8 13.5 -1.1 BG1.8p71.3 3.4 12.9 15.3 -4.9 38.9 -1.2b23.4 1.6 30.0 -3.1 11.1 -1.0 CZ1.6 75.9 1.0 7.9 6.3 -1.8 12.2 -2.6 9.1 -0.6 3.7 -3.0 5.5 -2.1 DK1.6 78.8b1.3b11.0 7.0b1.2b17.2 -0.7 12.4 0.3 3.1 -0.1 10.0 -2.2 DE1.4 78.2 1.6 6.8 6.3 -0.1 19.0 -1.6 16.1 -0.6 3.4 -1.6 8.7 -1.3 EE2.7 78.8 1.9 12.1 9.4 -2.3 23.4 -2.6b21.0 -0.8 4.1 -2.1 5.8 -1.8bIE2.9 72.7 3.0 14.4 10.9b-4.4b::::::::EL1.5p68.3 15.6 43.6 15.3 -3.8 34.8 -1.2 20.2 -1.9 21.1 -0.4 15.6 -1.6 ES2.6p73.9 7.7 38.6 13.3 -3.8b26.6 -2.6 21.6 -0.6 5.1 -2.0 12.8 -4.3 FR1.1p71.5 4.2 22.3 11.5 0.3b17.1 -1.4 13.3 0.0 4.1 -0.7 8.1 -1.5 HR2.2d66.4 4.6 27.2 15.4 -3.9 26.4 -2.9 20.0 0.6 10.3 -3.6 12.2 -2.5 IT1.2 65.4 6.5 34.7 20.1 -2.0 28.9 0.6 20.3 0.9 10.1 -1.5 11.8 -0.3 CY3.9p73.9 4.5 24.7 16.1 -0.9 25.2 -2.2 15.7 1.3 11.5 -3.8 9.4 -0.3 LV0.0 77.0 3.3 17.0 10.3 -1.7 28.2 -4.5 22.1 0.9 11.3 -7.9 7.8 -1.8 LT-0.5 75.9 2.7 13.3 9.1 -0.8 29.6 2.3 22.9 3.8 12.4 -1.2 9.7 0.9 LU3.4 70.2 2.1 15.4 5.9 -0.4 21.5 2.5 18.7 2.3 1.2 -0.2 6.9 0.8 HU2.0 71.2 1.7 10.7 11.0 -2.6 25.6 -6.2 13.4 -1.6 14.5 -9.5 6.6 -6.2 MT5.2 72.2 1.6 11.3 8.6b-1.7b19.2 -4.6 16.8 0.9 3.3 -6.9 6.7 -3.1 NL2.2p79.7 1.9 8.9 4.0 -1.5 17.0 0.5 13.2 1.6 2.6 -0.6 9.5 -0.7 AT1.7 76.4 1.8 9.8 6.5 -1.2 18.1 -1.1 14.4 0.3 3.7 -0.3 8.3 -0.8 PL1.4p69.6 1.5 14.8 9.5 -2.5 19.5 -5.2 15.0 -2.0 5.9 -4.5 5.7 -1.6 PT3.3p74.7 4.5 23.8 9.3 -3.0 23.3 -4.2 18.3 -1.2 6.9 -3.7 8.0 -4.2 RO2.8p67.3 2.0 18.3 15.2 -1.8 35.7 -4.6 23.6 -1.5 19.7 -6.2 6.9 -0.3 SI2.9 74.2 3.1 11.2 6.5 -2.9 17.1 -3.3 13.3 -1.2 4.6 -2.0 6.2 -2.5 SK2.2 72.1 5.1 18.9 12.1 -0.7 16.3 -2.1 12.4 -0.2 7.0 -2.9 5.4 -1.7 FI1.2 76.7 2.1 20.1 9.4 -0.8 15.7 -1.6 11.5 -1.3 2.1 -0.7 10.7 0.7 SE2.3 82.5 1.2 17.8 6.2 -1.0 17.7 -0.5 15.8 0.2 1.1 0.1 8.8 -0.2 UK1.0 77.6 1.1 12.1 10.3 -1.6 ::::4.9p-2.5p::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. d: Definition differs. p: Provisional. 1)Officialtransmissiondeadlinefor2017dataonPeopleatriskofpovertyandsocialexclusionis30November2018whiledatawereextractedon24October2018.2)NominalunitlabourcostandlabourproductivityforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.3) Labour Fource Survey indicators for IE: introduction of the new LFS  in substitution to the Quarterly National Household Survey (QNHS) as data source.      (cid:9)(cid:9)(cid:9)(cid:9)Source: European Commission, EurostatYear2017Employment rate(1 year % change) 
 
 
 
 
Table 2.2: Auxiliary indicators, 2016 

27 

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 international investment position excluding non-defaultable instruments (% 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)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE1.5 23.3 2.5p-0.5 52.3 9.6 221.1 -2.2 2.1 -5.0 1.8 5.4 0.2 3.2e1.4 3.8p5.9 59.2 14.2eBG3.9 18.6 0.8 4.8 29.3 2.9 90.6 -2.4 -4.6 5.1 3.0 5.9 3.4p12.8e53.8 11.6 2.7 20.9 7.7eCZ2.5 24.9 1.7p2.7 28.2 5.6 78.4 -2.1 -3.6 -0.0 3.6 2.1 0.8 4.0e0.0 14.2p3.7 31.3 10.7eDK2.0 20.4 2.9e8.1 15.7 2.5 56.3 0.0 -0.2 -6.9 2.3 0.6 0.4 3.3e3.9 16.8 4.5 130.4 16.7eDE2.2 20.1 2.9e8.6 37.5 1.6 42.0 -1.5 0.4 -0.3 6.8 0.1 0.9 2.6e3.8 14.5 5.9 52.9 18.4eEE3.5 23.0 1.3 3.0 18.7 3.9 98.8 -1.0 0.4 -3.5 2.8 3.0 3.2 1.7e36.8 27.3 4.5 40.1 7.7eIE5.0 35.7 1.2e-5.7 -246.4 34.4 511.9 -1.1 -0.9 55.3 0.1 2.2 1.2 13.1e-34.6 39.6p1.7 52.2 7.4eEL-0.2p12.1p1.0 -0.7 -127.2 1.4 15.8 -1.6p-3.2 -21.2 6.1p-4.0p-0.7p46.3e-11.9 -14.2e0.6p60.7 10.1eES3.2p19.9p1.2 2.5 -62.4 3.2 60.2 -1.5p-2.2 -0.7 -0.3p3.0p0.6p5.7e-7.5 8.7 4.8p64.5 13.2eFR1.2p21.9p2.3p-0.7 -31.4 1.8 45.5 -1.4p0.2 -6.0 6.1p-0.7p0.5p3.6e-0.1 -2.1 6.0p57.2 16.0eHR3.5 20.0 0.9b3.9 -25.5 3.8 57.2 -2.7 -1.0 5.0 1.7 3.4 3.2d10.7e-11.2 -3.6 :35.1 7.2eIT1.1 17.2 1.3p2.3 -10.1 1.1 26.0 -1.6 -0.7 -5.5 7.9 -0.1 -0.2 15.0e1.7 -8.3p4.3 41.5 14.2eCY4.8p17.7p0.5p-4.9 -110.8 40.2 1069.2 -3.4p-3.3 -5.7 0.4p2.4p0.2p35.4e-8.6 -2.9p4.9p118.8 10.7eLV2.1 19.6 0.4 2.6 -9.8 0.9 58.0 -2.3 -0.1 6.2 -0.2 2.2 2.4 6.3e30.6 11.1 2.1 23.6 9.9eLT2.4 19.3 0.9 0.7 -13.6 2.2 41.1 -2.6 -0.7 2.4 4.6 1.8 0.4 4.0e6.4 16.3 3.0 22.8 11.6eLU2.4 18.6 1.2p4.7 -3775.9 329.2 9479.1 -2.5 -0.2 22.7 0.3 1.6 -0.6 0.8e10.6 16.6 3.3 64.1 13.4eHU2.3 19.6 1.2 6.1 -11.9 55.9 260.5 -3.2 -5.1 -3.2 2.4 2.9 -0.7 11.9e5.4 33.6 2.4 20.3 9.9eMT5.2 24.4 0.6p7.4 208.7 22.1 1696.3 -8.8 2.0 6.3 1.5 2.0 1.0 4.1e6.6 14.4 3.6 51.9 15.8eNL2.2 20.0 2.0p7.9 -44.4 20.5 604.0 -0.6 -0.4 -2.7 2.0 -0.5 1.1p2.4e-0.1 9.7 4.1 107.6 17.7eAT2.0 23.2 3.1p2.4 -9.6 -7.5 65.1 -1.9 2.4 -6.7 2.4 0.5 0.7 5.1e6.4 17.8 4.3 51.4 12.5ePL3.1 18.0 1.0p0.5 -22.9 3.9 50.7 -1.4 -5.5 14.8 4.6 6.6 2.5p6.4e4.0 4.4 2.4 36.6 9.4ePT1.9 15.5 1.3p1.6 -66.5 4.6 77.0 -1.6 0.5 2.8 8.6 2.2 0.3 17.2e-9.9 15.1 2.6 72.1 12.9eRO4.8 22.9 0.5 0.4 -6.7 3.3 44.4 -0.9 -2.6 20.1 3.9 13.8 6.0 9.7e21.9 6.7 2.6 16.6 9.8eSI3.1 17.5 2.0p4.8 -22.1 3.2 37.2 -2.1 -1.6 1.1 3.0 4.2 1.2 12.3e3.0 -2.8 2.1 27.4 8.0eSK3.1 21.3 0.8 -0.2 -14.8 5.3 70.8 -2.7 -2.0 4.4 -2.2 3.3 0.7 4.6e-0.8 14.0 2.8 38.0 9.2eFI2.5 21.7 2.8 -0.7 12.2 2.0 54.1 -1.4 0.5 -16.7 4.7 1.8 2.0 1.4e7.8 0.1 6.1 67.0 17.7eSE2.7 23.9 3.3p4.2 -12.2 1.4 82.2 -0.8 -7.7 -10.5 1.9 0.8 0.8 1.2e7.2 34.4 5.1 86.2 17.6eUK1.8 16.8 1.7p-5.3 1.1 10.1 78.8 -0.5 4.9 -2.0 6.2 -1.2 0.4 1.9e5.8 22.4 3.8 86.3 15.1eFlags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1) House price index e = source NCB for EL. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeignentities),andInternational Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 2.2 (continued): Auxiliary indicators, 2016 

28 

%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-1.1bCZ1.6 75.0 1.7 10.5 7.0 -2.1b13.3 -1.3 9.7 1.1 4.8 -1.8 6.7 -0.2 DK1.6 80.0b1.4b12.0 5.8b-0.2b16.8 -1.5 11.9 0.0 2.6 -1.0 10.7 -1.2 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 IE3.8 72.7 4.2 16.8 12.6 -3.8 24.2 -5.7 16.6 0.9 6.5 -3.4 18.2 -5.7 EL0.5p68.2 17.0 47.3 15.8 -4.6 35.6 -0.1 21.2 -1.9 22.4 2.1 17.2 -1.0 ES2.6p74.2 9.5 44.4 14.6 -4.0 27.9 0.6 22.3 1.9 5.8 -0.4 14.9 -0.8 FR0.7p71.4 4.6 24.6 11.9 0.7b18.2 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 30.0 1.5 20.6 1.3 12.1 -0.2 12.8 1.5 CY4.6 73.4 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 19.8b0.8b16.5b0.6b1.6b-0.2b6.6b0.0bHU3.1 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 MT4.2 70.6 1.9 11.9 8.8 -1.1 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 -1.0b16.7b0.8b12.7b2.3b2.6b0.1b9.7b0.4bAT1.3 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 -1.7b21.9 -3.9 17.3 0.0 6.7 -5.2 6.4 -0.8 PT1.6 73.7 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-1.1 65.6 3.0 20.6 17.4 0.4 38.8 -3.1 25.3 2.3 23.8 -6.0 8.2 0.6 SI1.8 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 SE1.9 82.1 1.3 18.9 6.5 -1.0 18.3 0.0 16.2 0.2 0.8 -1.1 8.5 -0.9 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 Flags: b: Break in series. d: Definition differs. p: Provisional. 1)Youngpeopleneitherinemploymentnorineducationandtraining:forESchangeintheclassificationofnon-formaleducationactivities;forFR,dataareimpactedfromthechangesinthequestionnaireintroducedin2013andinclusionofFrenchoverseasdepartments(DROM).2)Employmentrate 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)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, 2015 

29 

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 international investment position excluding non-defaultable instruments (% 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)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE1.7 23.1 2.5 -1.0 52.5 -5.4 228.8 -2.7 0.2 -10.9 0.0 0.6 0.8 3.8e4.0 2.3p5.8 58.8 14.7eBG3.5 21.0 1.0 3.1 20.7 5.2 93.6 -3.8 -4.0 13.1 3.5 2.8 3.1p14.5e54.7 2.0b1.4 21.7 7.7eCZ5.3 26.5 1.9 2.5 20.7 0.9 75.8 -2.4 -7.9 -1.1 0.9 3.1 3.8 :-2.0 6.5p3.6 30.4 10.1eDK1.6 19.5 3.0p7.9 10.7 0.6 50.1 0.0 -1.3 -7.5 1.1 -0.7 0.2 3.9e5.2 15.3 4.1 129.5 16.7eDE1.7 19.9 2.9 8.9 34.4 1.6 41.9 -2.0 0.5 -1.5 2.1 2.4 0.8 3.0e-1.1 11.4 5.7 53.2 18.6eEE1.9 23.6 1.5 3.9 16.7 -3.2 97.9 -1.5 1.6 8.6 2.9 -4.4 -0.9 2.2e42.3 34.5 4.1 39.7 7.7eIE25.1 24.2 1.2 3.9 -243.6 82.1 498.3 -1.5 -1.4 39.4 2.5 36.4 20.9 14.9e-32.1 31.5p1.4 57.1 7.8eEL-0.4p11.6p1.0 0.9 -127.8 0.7 14.8 -2.1p-5.2 -20.1 6.0p0.2p-1.2p46.8e-12.3 -21.6e0.7p62.2 11.0eES3.6 19.9 1.2 1.8 -66.1 2.1 58.8 -2.0 -1.3 -3.0 -4.4 1.3 0.8 6.3e-3.6 -5.6 4.4 67.9 13.7eFR1.1 21.5 2.3p-0.4 -29.7 1.8 43.9 -1.8 -0.4 -2.6 2.8 1.7 0.9 4.0e1.6 -4.9 5.9 56.1 17.3eHR2.4 19.6 0.8 5.1 -36.2 0.4 54.3 -3.4 -1.1 -5.1 0.5 6.5 1.1d13.0e-7.1 -8.2 :38.4 8.0eIT0.9 16.9 1.3 1.7 -17.4 0.7 25.6 -2.0 -0.5 -8.3 2.3 1.5 0.3 16.5e3.4 -14.3 4.4 41.9 13.1eCY2.0 13.0 0.5 -1.2 -136.0 41.3 1049.7 -4.1 -2.4 -11.3 -0.8 2.3 0.5 36.3e-6.4 -7.1bp4.2 127.7 10.7eLV3.0 22.1 0.6 2.3 -12.9 2.9 59.8 -3.2 -2.0 13.7 0.0 0.2 1.5 6.5e44.6 9.5 2.5 24.5 9.5eLT2.0 19.6 1.0 0.7 -14.0 2.3 39.8 -3.6 -1.4 16.2 1.5 -2.1 0.7 5.6e11.7 11.7 2.8 22.2 9.0eLU3.9 18.1 1.3 4.5 -3828.3 1336.6 9411.7 -3.1 0.3 30.2 -0.1 2.4 1.3 1.1e12.9 15.5 3.1 61.3 13.4eHU3.5 22.5 1.4 7.3 -18.6 -4.6 222.5 -4.2 -7.1 -8.2 -0.2 4.3 1.1 15.2e3.4 14.8 2.2 21.3 11.2eMT9.5 25.3 0.8 6.2 204.3 27.9 1724.9 -8.9 1.0 -1.2 1.0 0.8 5.4 5.1e9.4 8.1 2.8 53.0 14.1eNL2.0 22.1 2.0 5.8 -51.6 23.5 593.1 -1.1 1.0 -5.7 -0.1 4.5 1.0 2.7e0.3 -1.8 3.5 109.5 18.0eAT1.1 22.7 3.1 1.2 -11.3 -2.1 75.4 -2.3 2.3 -8.1 -0.1 0.6 0.5 6.5e6.4 14.2 4.3 50.9 13.5ePL3.8 20.1 1.0 1.8 -26.0 3.2 48.1 -1.6 -1.9 10.4 2.5 4.8 2.3 6.6e1.1 -2.0 2.5 36.0 9.2ePT1.8 15.5 1.2 1.3 -73.2 1.3 74.0 -2.3 -1.0 2.8 4.7 3.2 0.4 17.5e-11.9 5.4 2.4 76.7 12.4eRO3.9 24.8 0.5 1.2 -13.0 2.4 42.6 -0.9 2.4 21.8 6.0 1.7 5.2 13.4e22.8 0.5 2.4 17.5 9.8eSI2.3 18.8 2.2 5.6 -26.8 4.0 34.4 -3.1 -0.7 -3.3 0.7 2.1 1.0 17.9e3.1 -10.8 2.1 27.6 8.6eSK4.2 24.3 1.2 1.8 -14.1 1.7 63.3 -3.5 -1.2 5.3 -3.2 3.1 2.2 4.4e0.0 7.8 2.3 34.7 9.0eFI0.1 20.4 2.9 -0.7 12.4 7.2 57.8 -1.8 1.1 -20.6 2.8 -2.1 0.3 1.5e9.9 0.8 5.6 66.7 19.1eSE4.5 23.6 3.3 4.3 -13.9 1.8 83.9 -0.9 -7.7 -8.3 0.6 2.8 2.9 1.3e6.1 30.5 4.6 83.5 18.8eUK2.3 16.8 1.7 -5.0 -10.8 1.6 71.4 -0.6 14.0 3.1 2.6 1.5 0.6 :7.4 17.4 3.6 85.4 15.6eFlags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1) House price index e = source NCB for EL. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeignentities),andInternational Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 2.3 (continued): Auxiliary indicators, 2015 

30 

%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 DK1.4 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 IE3.5 72.1 5.3 20.2 14.3 -4.9 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 ES2.8 74.3 11.4 48.3 15.6 -3.0 28.6 1.4 22.1 1.3 6.4 0.6 15.4 1.1 FR0.2 71.3 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 68.8 2.4 12.6 10.5 -0.3 22.4 -0.7 16.3 1.2 8.1 -1.1 9.2 0.2 NL1.0 79.6 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 SI1.3 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 18.6 0.9 16.3 1.1 1.1 -0.7 8.7 0.6 UK1.7 76.9 1.6 14.6 11.1 -2.8 23.5 -0.6b16.6 0.6 6.1 -1.7 11.9 -1.1bPeople 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. d: Definition differs. 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 15-24 
 
 
 
 
Table 2.4: Auxiliary indicators, 2014 

31 

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 international investment position excluding non-defaultable instruments (% 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)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE1.3 23.0 2.4 -1.1 52.1 -4.4 228.5 -3.8 -0.1 -7.6 -2.4 1.5 0.8 4.3e5.0 2.9 5.9 57.9 15.1eBG1.8 21.1 0.8 3.5 10.9 1.9 93.4 -5.6 -3.0 12.7 3.0 -0.6 1.5p16.0e56.1 -2.7 1.6 23.1 7.9eCZ2.7 25.1 2.0 0.9 19.1 3.9 77.3 -4.0 -10.1 0.1 -1.4 5.0 2.2 :-1.9 0.9 3.4 30.5 10.0eDK1.6 19.2 2.9 8.7 11.4 2.0 49.8 0.0 -1.4 -10.2 3.7 -0.6 0.7 5.1e5.3 4.9 3.9 131.5 18.4eDE2.2 20.0 2.9 7.6 31.6 0.5 41.2 -2.8 -0.1 -2.8 -2.8 1.0 1.3 3.9e-5.7 10.0 5.9 54.0 19.2eEE2.9 25.6 1.5 1.9 12.8 6.6 103.7 -2.1 3.1 28.6 0.3 -0.9 2.1 3.2e39.1 35.0 3.9 38.9 6.6eIE8.8 20.7 1.5e-2.4 -351.3 38.3 387.5 -2.7 -1.8 -8.9 -5.3 10.9 6.0 21.6e-15.4 2.1p1.7 81.5 9.1eEL0.7p11.5p0.8 -0.2 -128.6 1.1 11.8 -3.4p-5.6 -13.0 1.5p4.0p-0.2p39.7e-4.2 -27.1e1.0p63.1 12.8eES1.4 19.3 1.2 1.6 -71.4 2.4 58.8 -2.9 -0.6 -6.4 -7.5 0.6 0.4 8.1e-2.7 -22.3 4.5 73.0 14.0eFR1.0 21.8 2.2 -1.0 -31.0 0.2 42.1 -2.5 -0.7 -8.8 -1.7 -0.4 0.4 4.2e3.0 -4.0 6.0 55.6 18.9eHR-0.1 19.2 0.8 2.3 -43.7 5.3 56.0 -4.0 -1.4 -14.9 0.6 2.3 -2.7d13.6e-4.3 -6.9 :40.0 7.2eIT0.1 16.7 1.3e2.1 -21.1 0.8 25.1 -2.6 0.4 -9.6 -4.1 -1.0 0.0 16.5e3.8 -13.1 4.5 42.7 14.0eCY-1.3 11.7 0.5 -3.5 -107.9 -2.2 849.3 -5.9 -0.1 -19.0 -1.2 0.6 0.5 38.6e-0.4 -8.7p4.1 130.0 10.3eLV1.9 22.6 0.7 1.5 -17.9 3.0 56.5 -4.2 -1.3 18.5 -0.4 2.3 3.3 9.7e56.3 16.6 2.5 26.5 10.2eLT3.5 18.9 1.0 5.8 -16.3 1.1 38.5 -4.7 -0.1 42.6 -0.9 -0.4 1.5 6.8e11.8 7.5 2.5 21.5 9.7eLU4.3 20.0 1.3 3.8 -3325.7 268.0 7931.5 -4.4 0.8 22.6 2.0 12.7 1.7 1.4e12.7 14.2 3.8 60.6 13.4eHU4.2 22.2 1.4 5.2 -30.1 9.5 217.3 -6.2 -7.0 -11.1 -0.8 5.4 -0.6 19.4e8.9 -2.2 1.9 25.5 10.9eMT8.2 17.3 0.7 10.5 212.5 2.8 1849.6 -14.9 0.7 -6.6 2.0 -0.4 2.9 6.0e7.9 5.2 2.4 56.6 11.9eNL1.4 17.6 2.0 8.4 -45.8 13.0 558.1 -1.6 1.3 -5.4 -3.0 0.8 1.5 3.4e0.9 -11.6 3.1 111.3 18.5eAT0.7 22.7 3.1e2.4 -11.3 0.4 77.8 -3.0 1.6 -10.1 -2.7 -0.8 -0.3 7.5e5.4 16.8 4.3 51.0 14.2ePL3.3 19.7 0.9 0.4 -26.2 3.6 51.5 -2.6 -1.5 11.7 -1.4 3.0 1.6 7.2e2.1 -6.8 3.0 35.6 9.3ePT0.9 15.0 1.3 1.4 -77.9 5.7 74.0 -3.6 -1.2 0.2 0.1 0.6 -0.5 16.6e-10.0 -4.9 2.5 81.7 13.7eRO3.4 24.3 0.4 2.0 -16.0 1.9 41.9 -1.4 -1.3 28.2 3.8 4.3 2.6 20.7e53.6 -7.3 2.4 18.0 10.5eSI3.0 19.4 2.4 6.0 -35.1 2.0 31.5 -4.1 0.5 -7.1 -4.6 2.0 2.5 22.8e3.8 -17.6 2.2 28.3 9.3eSK2.8 20.7 0.9 2.1 -13.0 -0.4 62.1 -4.3 0.5 8.8 -3.5 0.2 1.3 5.2e2.1 -0.4 2.3 32.5 8.4eFI-0.6 20.6 3.2 -1.7 0.2 6.3 52.4 -2.4 2.0 -21.4 -2.7 -6.4 -0.2 1.6e10.3 3.2 5.5 65.4 24.3eSE2.6 23.1 3.2e4.4 -21.7 -1.7 84.5 -1.3 -3.8 -3.5 -0.8 1.6 1.2 1.3e6.1 16.7 4.0 83.2 20.6eUK2.9 16.6 1.7e-5.0 -14.9 2.0 71.8 -0.8 10.3 -3.5 2.7 -1.4 0.6 3.3e6.6 11.2 3.5 84.8 17.9eFlags: d: Definition differs. e: Estimated. p: Provisional. 1) House price index e = source NCB for EL. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeignentities),andInternational Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 2.4 (continued): Auxiliary indicators, 2014 

32 

%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 0.2b21.2 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 -0.2b14.8 -0.5 9.7 -0.1 6.7 0.6 7.6 1.0 DK0.9 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 -1.1b20.6 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-2.4bIE2.7 71.8 6.6 23.4 15.3 -3.9 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 FR0.5 71.0 4.5 24.2 11.2b-1.1b18.5 -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 67.8 2.7 12.5 10.3 0.1 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 -0.3b27.5 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 -1.0b18.4 -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 18.2 -0.3 15.6 0.2 1.0 -0.7 9.0 -0.4 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 Flags: b: Break in series. d: Definition differs. p: Provisional. 1)Youngpeopleneitherinemploymentnorineducationandtraining:forES,changeintheclassificationofnon-formaleducationactivities;forFR,dataareimpactedfromthechangesinthequestionnaireintroducedin2013andinclusionofFrenchoverseasdepartments(DROM).2)Employmentrate 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 0-59Year2014Employment 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, 2013 

33 

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 international investment position excluding non-defaultable instruments (% 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)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE0.2 22.2 2.3 -0.4 62.0 -5.4 220.3 -4.5 0.6 -6.8 0.4 -2.9 0.5 :4.3 7.6 5.7 55.8 15.7eBG0.5 21.2 0.6 2.4 7.4 3.6 89.3 -6.2 -0.4 7.0 4.2 5.8 0.9p:52.4 -9.3 1.7 23.2 7.8eCZ-0.5 25.1 1.9 1.5 14.9 3.5 77.4 -4.8 -2.4 -3.3 -0.9 -3.6 -0.8 :0.9 -1.4 3.2 31.7 10.8eDK0.9 19.1 3.0 7.7 -3.6 0.2 41.8 0.3 -1.3 -11.9 2.4 -2.2 1.0 :4.8 -0.6 3.7 133.3 18.4eDE0.5 19.7 2.8 6.7 29.4 1.8 41.0 -3.4 -0.8 -6.1 0.3 -2.1 -0.1 :-8.6 10.4 5.8 55.4 20.3eEE1.9 27.7 1.7 3.1 7.3 4.4 98.8 -2.2 5.4 17.6 -0.8 -1.0 0.7 :40.8 28.8 3.4 40.0 6.8eIE1.3 18.7 1.6e1.0 -309.8 29.6 347.3 -3.2 -3.1 -4.2 -4.7 -0.9 -1.6 :-9.5 -27.3p1.6 93.7 15.0eEL-3.2p12.2p0.8 -0.4 -129.8 1.2 12.0 -3.7p-3.5 -20.4 -0.8p-2.3p-0.6p:-0.9 -25.5e2.2p65.1 14.0eES-1.7 18.8 1.3 2.2 -71.1 3.8 56.4 -3.4 0.4 -4.8 -2.0 0.5 0.9 :0.5 -28.5 4.1 77.3 14.9eFR0.6 22.0 2.2 -0.5 -26.9 1.1 41.3 -3.1 -1.3 -8.1 -0.4 -1.7 0.4 :2.8 3.2 6.1 55.6 18.1eHR-0.5 19.7 0.8 1.0 -48.6 1.7 50.4 -5.1 -2.9 -17.8 1.3 -0.7 2.2d:-0.7 -5.3 :40.2 7.5eIT-1.7 17.2 1.3 0.9 -23.3 0.9 23.8 -3.3 1.0 -14.5 -0.6 -3.1 0.1 :6.6 -7.6 4.8 43.5 15.0eCY-5.8 14.1 0.5 -3.5 -110.7 -25.0 863.8 -6.3 1.0 -9.2 -0.6 -1.7 0.1 :4.8 -8.5p4.1 127.7 16.2eLV2.4 23.2 0.6 -0.2 -20.9 3.3 54.1 -5.6 0.2 13.5 1.0 -2.7 0.1 :58.6 21.5 2.2 29.6 9.9eLT3.5 18.5 1.0 4.0 -17.3 1.5 38.7 -6.1 1.4 27.9 -5.6 6.1 2.1 :12.9 7.7 2.2 22.4 9.6eLU3.7 19.5 1.3 4.2 -2674.5 1020.5 6471.4 -5.4 1.7 15.1 2.8 1.5 1.8 :17.0 13.4 3.6 60.2 13.9eHU2.1 20.9 1.4 7.3 -35.3 -2.8 211.4 -6.3 -3.0 -17.3 -0.3 0.4 1.0 :13.1 -9.4 1.8 28.0 10.7eMT4.6 17.5 0.8 4.4 225.1 5.7 1973.2 -9.0 0.1 6.5 1.0 -2.9 0.8 :12.5 1.2 2.6 59.1 6.6eNL-0.1 18.4 2.0 9.9 -66.9 37.5 534.5 -1.4 1.4 -5.0 -2.0 -1.3 1.1 :1.2 -14.0 3.0 113.8 20.8eAT0.0 23.0 3.0 1.8 -11.7 0.1 75.2 -3.5 1.6 -12.6 -1.9 -3.2 -0.3 :3.6 19.9 4.3 51.2 13.4ePL1.4 18.8 0.9 1.0 -27.1 0.2 50.1 -2.7 -3.3 6.9 -0.1 2.3 1.5 :0.4 -7.6 3.0 35.1 9.0ePT-1.1 14.8 1.3 3.2 -76.0 4.7 69.5 -3.7 0.1 -0.8 3.7 3.2 1.8 :-9.0 -13.3 2.5 86.1 14.8eRO3.5 24.8 0.4 1.0 -20.4 2.0 43.1 -1.9 0.7 21.9 2.9 16.4 4.4 :51.9 -17.0 2.6 19.2 9.7eSI-1.1 19.8 2.6 4.8 -39.2 0.2 29.1 -5.5 0.0 -12.5 -2.3 -0.7 0.0 :9.1 -9.4 2.4 29.8 11.3eSK1.5 20.7 0.8 3.3 -10.5 1.0 64.8 -5.9 2.5 2.8 -4.6 2.9 2.3 :4.7 -3.3 2.7 29.7 8.2eFI-0.8 21.2 3.3 -2.1 -3.7 -1.9 46.8 -2.6 1.9 -26.5 -2.7 -2.7 0.0 :9.6 6.9 6.0 64.0 21.7eSE1.2 22.4 3.3e5.0 -24.6 0.3 90.7 -1.5 5.9 -11.3 0.0 -4.6 0.3 :4.4 9.4 3.5 82.2 21.3eUK2.0 16.0 1.7 -5.2 -12.5 2.0 71.8 -1.1 4.2 -5.6 3.2 -2.3 0.9 :10.3 1.5 3.2 86.5 17.9eFlags: d: Definition differs. e: Estimated. p: Provisional. 1) House price index e = source NCB for EL. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeignentities),andInternational Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 2.5 (continued): Auxiliary indicators, 2013 

34 

%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 0.6b48.0 -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 -2.0b20.3 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 IE3.0 71.8 8.0 26.7 16.4 -3.0 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 70.7e4.4e24.9 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 66.3 2.8 13.7 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 0.4b41.9 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 18.3 0.6 16.0 1.2 1.9 0.0 9.4 0.9 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 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. d: Definition differs. 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, EurostatYear2013Employment rate(1 year % change) 
 
 
 
 
Table 2.6: Auxiliary indicators, 2012 

35 

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 international investment position excluding non-defaultable instruments (% 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)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE0.2 22.6 2.3 0.5 65.2 1.3 236.2 -5.0 1.9 -5.4 -2.5 -2.8 -0.2 :2.3 9.7 5.9 54.9 17.4eBG0.0 21.3 0.6 0.4 4.3 3.3 90.1 -6.9 1.9 10.9 5.9 -1.1 2.6p:42.0 -16.7p1.7 23.2 7.6eCZ-0.8 25.9 1.8 -0.3 9.3 4.5 74.7 -4.7 5.6 7.0 -3.3 1.2 -1.2 :2.9 -3.1 3.7 30.9 10.4eDK0.2 18.8 3.0 6.3 -2.7 -4.9 43.6 0.8 0.7 -7.9 3.1 -1.9 1.0 :5.6 -1.7 4.1 136.3 20.3eDE0.5 20.1 2.9 7.0 22.0 1.8 39.8 -3.6 -1.3 -6.6 -2.5 -0.3 -0.7 :-10.8 8.2 5.8 56.3 23.5eEE4.3 28.6 2.1 1.4 3.2 7.8 94.2 -1.3 5.2 19.6 -1.4 1.7 2.6 :42.5 23.0 2.9 41.9 7.1eIE0.2 19.7 1.6e-2.6 -256.6 25.0 337.7 -3.0 -5.1 -6.2 -3.6 -4.0 0.7 :-6.5 -37.9p1.4 99.1 15.8eEL-7.3p12.6p0.7 -2.6 -122.3 0.7 11.5 -4.0p2.0 -16.3 -3.5p-1.9p-1.1p:8.1 -20.4e3.1p64.6 26.6eES-2.9 19.8 1.3 0.3 -75.2 1.8 53.3 -3.8 0.8 -8.4 -5.4 -2.0 1.1 :2.9 -22.7 4.9 80.9 17.9eFR0.3 22.5 2.2 -1.1 -27.0 1.2 40.5 -3.3 -0.5 -8.5 -2.1 -0.3 0.0 :2.5 10.3 6.2 55.1 20.1eHR-2.3 19.6 0.8 -0.1 -49.5 2.6 51.7 -5.6 -2.6 -15.0 2.6 -3.2 1.4d:5.0 -7.6 :41.1 :IT-2.8 18.4 1.3 -0.1 -23.8 0.0 23.2 -3.8 1.4 -16.7 -4.2 -0.8 -2.5 :10.3 -0.5e5.0 44.0 14.4eCY-2.9 15.1 0.4 -5.8 -102.3 30.5 866.4 -7.5 2.0 -12.8e-0.6 -5.8 0.3 :17.2 -10.1p4.9 126.8 26.0eLV4.0 25.4 0.7 -0.6 -24.8 3.8 49.7 -6.1 -0.7 20.8 -1.3 6.7 2.5 :55.9 1.2 2.2 33.2 10.2eLT3.8 17.4 0.9 1.5 -23.0 1.4 38.2 -7.5 1.7 48.2 -1.9 9.3 2.0 :9.5 -1.5 1.9 23.7 10.2eLU-0.4 20.2 1.3b4.7 -2442.4 981.1 5989.7 -6.3 2.8 0.6 4.2 -0.3 -2.7 :17.2 13.9 3.2 61.0 15.1eHU-1.6 19.3 1.3 4.3 -42.5 8.1 227.1 -6.3 4.6 -11.9 -2.2 -4.9 -1.8 :19.9 -9.2 2.0 31.5 11.5eMT2.7 18.1 0.8 3.6 268.0 36.1 2051.0 -12.2 1.1 25.6 0.2 3.9 0.2 :13.5 2.7 3.0 60.4 5.0eNL-1.0 18.8 1.9b8.9 -69.6 29.4 503.2 -2.6 -0.3 -2.4 -2.6 0.2 -0.8 :1.8 -10.1 3.5 117.4 22.3eAT0.7 22.6 2.9e1.3 -16.0 1.3 74.7 -3.9 1.3 -12.3 -3.2 -1.7 -0.4 :1.6 21.1e4.3 52.0 13.5ePL1.6 19.8 0.9 -1.5 -26.4 1.5 47.7 -3.4 7.3 13.6 -2.6 1.5 1.5 :-3.5 -7.0e3.2 34.1 9.1ePT-4.0 15.8 1.4 0.3 -79.4 10.1 66.7 -4.7 0.9 -6.7 -0.5 0.3 0.1 :-8.7 -11.0 2.9 90.4 15.5eRO2.1 27.4 0.5 -3.4 -25.0 1.8 43.2 -3.0 3.2 25.8 4.8 -2.0 7.2b:81.7 -23.0 3.1 20.6 9.7eSI-2.7 19.2 2.6 2.3 -42.5 0.1 29.8 -6.7 0.2 -11.5 -4.3 -2.5 -1.8 :12.6 -4.2 2.5 30.8 12.9eSK1.7 21.2 0.8 2.9 -8.9 1.9 64.7 -5.9 1.9 0.5 -5.7 6.2 1.6 :7.4 -8.0 2.3 27.9 8.5eFI-1.4 22.3 3.4 -2.2 -1.2 1.9 52.0 -2.6 1.6 -23.5 -5.2 -1.9 -2.3 :7.4 12.3 6.3 63.6 26.3eSE-0.3 22.7 3.3e5.4 -20.8 0.8 91.4 -1.7 19.3 -9.9 -0.7 -2.1 -1.0 :2.5 12.0 3.4 80.5 22.1eUK1.4 15.8 1.6e-4.3 -24.2 1.8 73.8 -1.2 14.5 -11.5 -0.4 -1.7 0.4 :9.6 4.6 3.0 88.9 19.1eFlags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1) House price index e = NSI estimates for PL; e = source NCB for EL, IT and AT. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeignentities),andInternational Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 2.6 (continued): Auxiliary indicators, 2012 

36 

%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 -2.3b23.4 0.0 17.5 -2.2 9.4 3.2 9.1 3.5 IE-0.5 71.1 9.2 30.8 19.2 0.9 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 7.8b34.6 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 70.3e4.1e24.4 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 :20.4 :15.9 :16.8 :IT-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 6.1b27.1 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 0.1b18.4 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 63.9 3.0 14.8 10.8 0.9 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 17.7 -0.1 15.2 0.8 1.8 -0.2 8.1 -0.4 UK1.1 76.1 2.7 21.2 13.9 0.7 24.1b2.1b16.0 -1.3 7.8 4.5u13.0b0.3bFlags: b: Break in series. d: Definition differs. 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)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, 2011 

37 

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 international investment position excluding non-defaultable instruments (% 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)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE1.8 22.6 2.2 -1.2 67.7 30.3 236.2 -4.6 1.3 0.8 -2.2 -0.4 0.4 :0.7 6.8 5.8 54.4 21.7eBG1.9 20.9 0.5 1.5 -1.9 3.7 87.8 -6.3 3.9 21.3 11.5 5.5 4.2 :34.3 -32.4p2.2 23.8 7.4eCZ1.8 26.5 1.6 -1.8 7.8 1.9 69.6 -4.4 0.8 17.3 -1.7 2.1 2.1 :7.1 -5.5 3.7 30.0 11.8eDK1.3 18.2 2.9 6.9 -12.0 3.8 43.9 0.7 1.5 -5.9 2.0 0.1 1.4 :8.4 -11.0 4.3 138.4 21.1eDE3.7 20.3 2.8 6.1 15.5 2.6 35.8 -3.5 -1.0 -0.8 -2.1 1.2 2.3 :-13.8 5.5 5.6 56.9 25.7eEE7.6 26.2 2.3 5.4 -2.0 4.9 89.9 -0.4 2.8 35.7 1.0 17.1 1.0 :42.9 -28.0 2.7 45.6 8.1eIE3.7 16.8 1.6e-2.2 -238.8 15.2 305.8 -3.3 -6.6 -2.0 -1.4 -3.9 5.8b:-5.8 -42.0p2.0 104.5 17.7eEL-9.1p15.3p0.7 -8.7 -97.4 0.4 12.2 -3.6p4.5 -8.1 -1.5p-7.1p-2.4p:20.1 -13.2e4.6p63.7 :ES-1.0 21.5 1.3 -2.8 -78.3 2.2 51.6 -3.7 0.4 -0.2 -2.9 0.3 1.7 :8.5 -15.3 5.7 82.0 17.4eFR2.2 22.4 2.2 -0.9 -23.1 1.5 40.2 -3.0 -0.4 -7.7 -0.7 -0.7 1.4 :2.8 4.0 6.4 54.8 21.1eHR-0.3 20.2 0.8 -0.7 -51.9 2.3 49.7 -5.4 -2.2 -8.4 4.4 -4.9 3.7d:12.1 -10.9 :41.4 :IT0.6 19.7 1.2 -2.9 -22.4 1.5 21.5 -3.7 0.9 -11.9 -1.7 -1.9 0.3 :12.7 1.6e5.3 43.8 14.9eCY0.4 18.9 0.5 -3.7 -110.0 -43.5 700.1 -6.8 0.7 -3.5e-0.7 -1.4 0.4 :17.3 -13.3p6.2 121.3 19.9eLV6.4 22.2 0.7 -1.1 -31.1 5.3 50.1 -5.5 0.3 38.2 6.3 4.9 4.8 :47.5 -38.4 1.9 40.4 10.7eLT6.0 18.5 0.9 -1.3 -22.2 3.5 37.9 -7.6 4.7 41.4 -0.2 8.3 5.5 :10.1 -30.8 2.0 25.8 11.3eLU2.5 19.2 1.5 5.6 -1942.7 679.9 4666.0 -5.9 2.0 5.0 3.0 -3.1 -0.4 :15.5 8.0 3.0 57.7 17.7eHU1.7 19.7 1.2 3.1 -48.1 9.9 236.3 -6.0 -2.5 6.6 -0.9 -0.6 1.7 :23.5 -10.7 2.2 37.3 13.5eMT1.3 18.0 0.7 1.0 218.1 82.0 2023.8 -2.8 1.8 28.4 1.2 -5.6 -1.6 :9.9 -4.6 3.4 59.9 5.1eNL1.6 20.1 1.9b8.7 -74.1 37.1 472.5 -1.9 -0.1 0.1 -2.9 -1.9 0.7 :3.9 -8.0 4.2 117.5 24.2eAT2.9 22.5 2.7 1.5 -14.2 5.4 72.8 -3.7 1.2 -4.5 -3.1 -1.2 1.3 :-0.9 17.3e4.4 53.2 14.7ePL5.0 20.7 0.8 -3.2 -25.6 3.4 47.3 -3.3 -9.5 25.7 0.3 0.8 4.4 :-7.5 -6.4e3.0 35.1 9.9ePT-1.8 18.4 1.5 -4.5 -69.6 4.0 54.7 -4.2 -0.5 -0.2 -0.5 -0.1 0.1 :-3.7 -5.1 3.3 90.5 19.6eRO2.0 27.2 0.5b-4.4 -25.1 1.3 41.6 -2.7 -1.6 63.7 16.6 5.0 2.8 :75.3 -38.2e2.7 21.6 10.0eSI0.6 20.2 2.4b0.0 -39.8 1.7 28.7 -6.2 0.3 2.8 -2.4 -0.2 2.4 :18.7 -6.9 2.8 30.0 13.3eSK2.8 24.0 0.7 -3.7 -12.5 5.6 65.8 -6.4 4.9 6.2 -5.6 4.9 1.0 :11.3 -17.5 2.4 26.4 9.4eFI2.6 22.2 3.6 -1.6 4.1 -2.2 50.6 -3.7 2.1 -16.5 -4.3 -5.1 1.3 :3.3 11.3p6.3 61.3 26.1eSE2.7 22.8 3.3 5.3 -18.9 1.1 91.7 -1.8 7.4 -4.1 0.6 -1.0 0.5 :-0.2 14.0 3.9 77.9 24.1eUK1.6 15.5 1.7b-2.4 -22.3 1.0 60.4 -1.0 -2.7 -18.9 -2.3 -0.7 1.1 :9.0 -5.1 3.1 90.2 20.5eFlags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1) House price index e = NSI estimates for PL and RO; e = source NCB for EL, IT, and AT. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeignentities),andInternational Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 2.7 (continued): Auxiliary indicators, 2011 

38 

%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 4.4b49.1 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-1.9b71.2 8.8 29.6 19.2 5.3 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 6.0b31.0 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 69.7e4.0e22.6 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 :20.9 :15.2 :15.9 :IT0.3 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 14.0 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 2.5b27.2 -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 68.7b9.2b33.7d13.8b2.7b20.6 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 -0.3b18.5 1.8b15.4 1.9b1.7 -0.1b9.4 2.4bUK0.5 75.5 2.7 21.3 14.2 2.1b22.7 -0.5 16.2 -2.5 5.1 0.6 11.5 1.1 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. d: Definition differs. 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, 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 15-24 
 
 
 
 
Table 2.8: Auxiliary indicators, 2010 

39 

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 international investment position excluding non-defaultable instruments (% 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)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE2.7 21.8 2.1 1.5 70.0 22.9 223.2 -3.7 1.9 -4.2 -1.7 -2.4 2.1 :1.1 7.2 6.1 52.7 20.1eBG1.3 22.2 0.6 -0.9 -8.6 3.6 90.3 -5.7 11.7 16.8 14.0 -1.7 5.4 :40.1 -10.6p2.7 26.0 7.4eCZ2.3 26.9 1.3 -2.6 7.5 4.9 70.1 -3.5 12.7 20.9 -2.1 2.0 3.3 :11.0 6.6e4.0 29.0 11.9eDK1.9 18.1 2.9 6.6 -21.3 -3.6 43.5 0.9 1.7 -3.3 3.3 -9.8 4.3 :11.8 -14.2 3.7 138.3 21.8eDE4.1 19.4 2.7 5.7 20.7 2.5 35.1 -2.9 -1.5 -0.2 -1.0 1.8 3.8 :-16.2 3.3 5.2 59.0 25.8eEE2.3 21.2 1.6 5.3 -18.3 13.2 95.0 -1.5 6.4 18.3 3.0 11.3 7.6 :47.7 -40.0 2.7 53.4 12.4eIE1.9 17.5 1.6e-1.9 -237.3 16.8 294.0 -2.8 -5.3 1.4 -4.2 -6.7 6.7 :0.8 -34.9p3.0 110.2 21.1eEL-5.5 17.6 0.6e-10.5 -99.9 0.2 13.8 -3.0 5.0 -7.2 -1.0 -7.8 -3.0 :22.6 -6.7e5.0 61.1 15.4eES0.0 23.0 1.4 -3.5 -73.8 2.8 50.5 -2.9 0.9 -4.4 1.0 -3.3 1.8 :11.4 -9.6 6.9 83.7 17.2eFR1.9 22.1 2.2b-0.6 -24.5 1.5 38.1 -2.4 -0.2 -10.4 0.2 -4.0 1.8 :2.6 -0.9 6.3 53.7 20.1eHR-1.5 21.2 0.7 -1.1 -49.9 2.3 53.9 -3.8 4.3 -6.0 5.6 -6.5 2.4d:7.9 -8.4e:41.9 :IT1.7 19.9 1.2 -3.4 -22.4 0.4 20.3 -3.2 0.7 -12.4 -2.1 -0.9 2.3 :13.7 2.9be5.6 43.6 12.7eCY1.3 22.3 0.5 -11.0 -111.5 53.3 773.4 -6.0 0.4 -9.0e-1.3 -8.2 0.9 :15.8 -6.9p8.1 118.3 15.2eLV-3.9 19.4 0.6 4.0 -43.6 1.9 49.7 -4.9 8.3 31.6 2.6 0.7 2.9 :48.9 -43.6 1.6 49.8 12.7eLT1.6 16.9 0.8 2.5 -25.3 2.3 38.6 -7.1 9.9 28.7 -2.2 6.2 7.3 :4.6 -29.3 2.1 29.6 14.2eLU4.9 17.6 1.5 6.2 -1850.5 423.7 3640.8 -4.8 1.7 11.7 4.6 -2.3 3.0 :19.0 7.7 2.9 57.9 16.8eHU0.7 20.2 1.1 2.1 -49.9 -16.0 214.3 -5.1 0.0 11.8 -0.8 -1.4 1.8 :34.0 -5.3 3.1 39.4 12.3eMT3.5 21.4 0.6 -2.7 224.6 106.3 1859.2 1.1 3.5 49.1 1.6 -5.8 1.8 :9.8 7.4 3.4 59.0 5.0eNL1.3 19.7 1.7 6.5 -78.9 14.5 431.3 -1.5 -1.0 -0.6 -1.2 -3.0 2.0 :4.4 -4.0 4.7 118.0 23.2eAT1.8 21.6 2.7e2.9 -10.3 -5.4 74.8 -2.9 0.1 -5.5 -2.5 0.4 1.1 :-1.6 11.5be4.3 54.6 13.8ePL3.6 20.3 0.7 -3.6 -24.5 3.7 48.4 -2.6 -0.1 34.9 1.7 0.4 6.4b:-3.3 -7.2 3.2 34.2 10.0ePT1.9 20.5 1.5 -8.8 -65.9 3.5 56.4 -3.4 -2.1 0.7 2.1 -3.2 3.4 :0.5 3.6e3.6 90.7 16.2eRO-2.8 26.1 0.5 -4.9 -23.1 2.0 41.7 -2.2 -9.2 65.9 21.2 2.4 -2.5 :169.7 :2.9 22.7 10.1eSI1.2 21.3 2.1 0.0 -45.3 0.6 27.0 -5.0 3.1 6.4 -1.6 -2.5 3.4 :29.4 -3.0 3.1 30.4 13.2eSK5.0 22.1 0.6 -3.2 -11.0 2.3 62.5 -5.7 12.7 12.4 -5.7 3.0 6.7 :12.4 -1.2 2.6 24.8 10.4eFI3.0 21.9 3.7 1.2 9.0 4.9 54.7 -2.8 1.9 -13.1 -5.8 -6.5 3.7 :2.3 8.7p6.1 61.1 19.6eSE6.0 22.3 3.2e5.8 -17.1 0.2 92.8 -1.6 -1.2 -5.6 1.2 -0.8 5.0 :0.8 12.4 3.6 77.0 22.4eUK1.7 15.5 1.7e-3.8 -26.2 2.7 59.7 -0.4 -16.8 -17.4 -1.5 -7.0 1.5 :11.6 -8.0 3.1 93.1 20.8eFlags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1) House price index e = NSI estimates for CZ; e = source NCB for EL, HR, IT, PT, and AT. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeignentities),andInternational Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 2.8 (continued): Auxiliary indicators, 2010 

40 

%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 66.7b4.7b21.9d21.0b1.9b49.2 -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 1.7b18.3 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-4.5 71.6 6.9 28.1 19.4 9.9b27.3 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 69.8e3.9e23.3 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 :20.6 :14.3 :13.9 :IT-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 -0.6b17.1 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 14.0 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 0.0b18.9 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 0.2b17.7 3.8 14.8 4.3 1.9 -0.3 8.5 2.5 UK0.2 75.4 2.5 19.9 13.6 1.7b23.2 0.6 17.1 -1.5 4.8 0.6 13.2 2.8 Flags: b: Break in series. d: Definition differs. e: Estimated. 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 0-59Year2010Employment 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, 2009 

41 

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 international investment position excluding non-defaultable instruments (% 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)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE-2.3 22.6 2.0 -1.3 61.5 17.0 208.2 -3.2 0.6 -1.3 -0.8 0.6 -2.1 :0.0 12.0 6.1 51.9 22.2eBG-3.6 27.9 0.5 -7.0 -8.0 7.5 94.4 -5.0 16.0 29.2 12.0 -1.7 -1.9 :34.7 28.2p4.7 26.8 7.5eCZ-4.8 27.1 1.3 -1.0 8.6 2.5 66.2 -2.7 10.4 37.9 -2.4 0.2 -3.1 :10.7 29.5e3.8 28.5 12.1eDK-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 :10.6 -14.3 4.2 142.5 22.2eDE-5.6 19.2 2.7 5.7 20.9 1.6 34.2 -2.5 -1.1 1.2 -0.4 -4.3 -5.7 :-16.5 0.0 5.1 61.7 26.6eEE-14.7 22.7 1.4 6.0 -32.1 9.1 89.1 -2.3 8.9 26.1 7.0 -10.3 -5.0 :53.3 -31.5 3.1 57.0 14.2eIE-5.0 21.1 1.6e-5.6 -217.2 22.8 267.4 -2.3 -1.6 10.5 0.8 14.6 3.1 :12.1 -19.1 4.7 116.2 20.9eEL-4.3 20.8 0.6e-11.5 -83.7 0.8 13.8 -2.2 2.5 -2.8 -2.3 -8.5 -3.8 :20.8 3.7e6.5 51.8 14.6eES-3.6 24.3 1.4 -4.0 -72.9 0.9 49.0 -2.3 1.1 -1.3 4.3 -1.0 2.9 :13.9 1.1 8.1 84.2 16.4eFR-2.9 22.1 2.2 -0.5 -24.2 0.7 37.0 -2.0 -1.2 -6.3 0.2 -0.9 -1.8 :0.3 0.0 6.3 52.6 20.7eHR-7.3 25.2 0.8 -5.1 -46.7 5.0 50.8 -3.5 4.1 2.8 5.2 -4.1 -6.6d:10.6 9.5e:39.9 :IT-5.5 20.0 1.2 -1.9 -20.9 0.9 22.1 -2.6 0.4 -10.9 -1.3 -8.1 -3.9 :11.4 7.2e5.6 42.5 12.8eCY-2.0 23.4 0.4 -7.3 -53.1 10.8 711.8 -4.6 -1.3 -1.5e-4.0 5.3 -2.0 :16.3 10.3 9.8 112.5 17.2eLV-14.4 22.5 0.5 10.2 -44.9 -0.2 46.3 -4.4 18.9 65.5 1.5 -2.9 -0.1 :60.3 -13.6 2.4 50.4 13.2eLT-14.8 17.9 0.8 5.7 -30.2 0.1 37.0 -4.1 12.9 41.9 -1.3 -2.8 -7.7 :0.2 -3.5 3.3 32.6 17.8eLU-4.4 18.4 1.7 6.1 -1591.8 410.6 3505.4 -4.1 0.9 21.3 3.6 -1.6 -5.4 :21.2 9.3e3.5 58.2 18.5eHU-6.6 22.7 1.1 0.9 -52.0 -2.6 226.9 -4.9 5.2 22.4 -2.6 -1.4 -4.2 :46.9 :4.1 37.5 13.4eMT-2.5 18.2 0.5 -5.4 93.6 16.8 1698.3 -0.1 1.5 58.1 1.0 9.6 -2.5 :6.7 28.6 4.3 60.0 9.5eNL-3.7 21.3 1.7 5.5 -74.9 10.9 417.1 -0.7 -1.1 2.6 0.9 1.4 -2.8 :7.2 2.4 5.6 117.2 23.2eAT-3.8 22.4 2.6 2.6 -4.8 3.4 81.1 -2.4 -0.3 1.9 -1.7 -4.4 -3.3 :-3.8 9.9e4.3 53.5 15.4ePL2.8 21.4 0.7 -2.3 -22.4 3.2 40.4 -2.2 -6.2 45.8 4.5 4.1 2.4 :-3.8 43.4e3.4 31.6 9.3ePT-3.0 21.1 1.6 -9.3 -69.9 2.3 53.6 -2.8 -1.7 -0.3 2.3 -0.2 -0.3 :3.9 4.2e4.1 92.1 16.1eRO-5.9 25.4 0.5 -4.2 -21.3 2.7 39.4 -1.5 -6.3 83.7 24.2 5.2 -4.0 :296.9 :2.8 21.5 11.0eSI-7.8 24.3 1.8 -0.5 -41.8 -0.7 26.1 -3.9 3.9 18.8 0.4 -6.6 -6.1 :35.9 19.8e3.8 28.5 12.9eSK-5.4 21.7 0.5 -2.7 -12.0 1.9 64.3 -4.4 24.8 18.8 -5.3 -6.8 -3.5 :22.5 32.7 3.0 23.7 10.5eFI-8.3 22.8 3.8 1.7 4.7 -3.3 50.7 -2.4 0.8 -6.0 -7.1 -10.1 -6.0 :2.0 8.3p5.2 59.3 16.8eSE-5.2 22.4 3.5 5.9 -24.9 2.1 100.8 -1.2 -12.2 -8.8 -0.2 -4.5 -2.8 :5.8 17.1 3.3 76.7 22.8eUK-4.2 15.4 1.7e-3.9 -35.8 0.4 57.3 -0.4 -21.7 -12.8 -3.0 1.7 -2.7 :10.2 -4.4 3.0 95.7 22.0eFlags: d: Definition differs. e: Estimated. p: Provisional. 1) House price index e = NSI estimates for CZ and SI; e = source NCB for EL, HR, IT, PL, PT, and AT; e = NSI&NCB estimates for LU. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeignentities),andInternational Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 2.9 (continued): Auxiliary indicators, 2009 

42 

%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 -0.1b20.2 -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 -2.7b46.2 -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 -0.7b14.0 -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 73.0 3.5 24.5 18.3 8.2b25.7 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 6.3b24.7 0.7 20.4 0.1 4.5 0.4 7.6 1.2 FR-1.1 69.8e3.3e23.6 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 -0.8b::::::::IT-1.7 62.3 3.4 25.3 17.6 0.8b24.9 -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 6.0b37.9 -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 3.8b29.6 -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 1.2b29.6 -1.8 12.4 -3.5 20.3 -0.6 11.3 -1.8 MT0.0 59.4 2.9 15.2 9.9 -0.4b20.3 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 0.1b15.1 -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 0.4b19.1 1.3 14.5 1.9 4.6 1.0 7.1 -1.0 PL0.4 64.7 2.5 20.6d10.1 -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 0.6b24.9 -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 -0.9b43.0 :22.1 4.1 32.1 :8.1 :SI-1.8 71.8 1.8 13.6 7.5 -1.0b17.1 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 -1.9b19.6 -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 0.3b17.8 1.5 14.4 2.1 2.0 -0.1 8.5 1.7 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 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. d: Definition differs. e: Estimated. 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, EurostatYear2009Employment rate(1 year % change) 
 
 
 
 
Table 2.10: Auxiliary indicators, 2008 

43 

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 international investment position excluding non-defaultable instruments (% 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)Gross non-performing loans of domestic and foreign entities  (% of gross loans)Unit labour cost performance relative to EA(10 year % change)House price index (2015=100) - nominal (3 year % change)Residential construction (% of GDP)Household debt, consolidated (incl. NPISH, % of GDP)Consolidated banking leverage, domestic and foreign entities (total assets/total equity)BE0.8 24.0 1.9 -1.5 54.7 38.4 192.0 -5.3 1.2 -0.9 -4.7 -1.3 -1.0 :1.7 23.5 6.5 49.5 30.5eBG6.0 33.0 0.5 -21.2 -10.6 17.9 87.5 -8.0 19.5 50.9 13.0 -0.5 3.6 :38.5 84.8p5.8 25.5 8.8eCZ2.7 29.0 1.2 -1.2 10.0 3.7 60.3 -4.1 22.7 70.3 -3.3 1.2 0.5 :14.8 45.0e4.0 25.8 13.6eDK-0.5 22.9 2.8 2.9 -28.0 0.5 44.6 1.6 -0.7 6.8 3.3 0.9 -1.7 :11.5 20.8 5.4 130.7 23.9eDE1.1 20.3 2.6 5.6 15.3 0.8 31.9 -3.4 -1.3 6.3 -4.6 -1.1 -0.2 :-18.7 -1.2 5.0 59.4 34.2eEE-5.4 31.2 1.3 -7.5 -35.1 8.0 77.1 -4.1 12.1 52.4 7.4 -2.1 -5.2 :60.6 63.2 4.3 50.4 12.2eIE-4.4 24.8 1.4 -6.8 -173.9 7.9 209.0 -3.1 1.1 -7.3 -3.2 -6.8 -3.8 :22.9 14.9 8.2 108.0 29.9eEL-0.3 23.8 0.7be-13.4 -73.0 1.4 12.0 -3.8 2.8 16.7 -1.7 0.5 -1.6 :20.9 22.0e8.1 49.8 18.5eES1.1 29.2 1.3 -8.8 -64.1 4.8 45.1 -3.6 3.1 -4.6 -1.2 -3.8 0.9 :18.3 22.7e10.4 82.1 18.0eFR0.3 23.6 2.1 -0.7 -20.3 2.3 34.2 -2.8 -1.3 -9.3 -3.3 -2.6 -0.3 :1.0 19.6 6.8 48.6 26.7eHR2.0 28.1 0.9 -9.0 -39.7 7.6 42.2 -5.1 6.3 4.9 6.7 -2.2 -0.1d:15.9 35.7e:39.0 :IT-1.1 21.2 1.2 -2.8 -21.8 -0.5 18.8 -3.6 0.0 -6.4 -8.0 -6.1 -1.3 :11.3 13.9e5.8 39.1 14.3eCY3.6 27.2 0.4 -15.3 -44.4 8.7 701.6 -6.4 -0.8 -16.9e-3.4 -3.6 0.1 :13.5 32.1 12.1 102.6 16.9eLV-3.5 32.1 0.6 -11.0 -44.8 3.7 36.0 -5.5 21.5 96.7 3.9 -0.6 -2.7 :92.2 113.8e6.1 42.8 12.2eLT2.6 26.0 0.8 -11.7 -28.1 4.0 29.9 -5.7 10.4 59.2e11.5 10.5 4.0 :5.3 76.7e3.4 28.4 14.4eLU-1.3 20.3 1.6 6.9 -1091.5 182.4 2968.2 -6.6 2.1 28.8 1.8 2.5 -5.8 :17.9 22.9e4.4 53.9 25.8eHU0.9 23.2 1.0 -5.8 -52.6 47.6 218.0 -6.2 8.4 39.4 -4.0 3.9 2.9 :58.0 :4.1 36.3 15.5eMT3.3 19.6 0.5 -0.7 58.5 164.7 1636.5 -2.3 0.6 23.4 0.0 16.4 0.8 :4.9 61.1 5.6 54.3 12.4eNL2.2 22.1 1.6 4.9 -68.6 17.5 399.8 -0.7 -2.3 4.5 -0.5 -1.4 0.5 :7.1 11.7 6.2 109.3 31.9eAT1.5 23.3 2.6e4.4 -11.0 1.5 72.7 -3.5 -0.7 6.3 -4.0 -0.8 -0.4 :-5.0 10.1e4.4 52.2 18.5ePL4.2 23.1 0.6 -5.6 -20.9 2.7 39.7 -3.0 14.1 68.4e4.5 4.1 0.4 :3.8 101.6e3.8 30.0 10.8ePT0.2 22.8 1.5b-10.9 -62.8 3.0 47.6 -4.6 0.0 -1.1 -2.9 -3.3 -0.2 :6.9 7.3be4.7 89.0 18.1eRO8.3 37.4 0.6 -11.1 -16.8 6.3 35.0 -2.8 9.8 113.6 28.3 -4.8 8.2 :466.2 :3.1 20.5 10.9eSI3.3 29.6 1.6b-5.4 -34.5 2.0 25.0 -6.2 4.0 29.5 -4.1 1.2 0.7 :36.1 54.5e4.6 25.6 12.7eSK5.6 25.5 0.5 -5.3 -6.0 4.9 60.5 -5.9 26.8 46.8e-4.5 0.0 2.3 :24.6 :2.5 20.9 12.3eFI0.7 24.4 3.6 2.2 8.2 7.0 50.9 -3.3 -1.3 6.4 -10.2 3.6 -1.5 :-1.6 14.2p5.9 52.8 18.2eSE-0.6 24.4 3.5e7.7 -30.1 8.3 91.4 -1.9 -4.8 3.7 -2.4 -1.0 -1.4 :5.1 27.9 3.9 68.7 26.1eUK-0.3 17.1 1.6e-4.6 -24.6 9.1 59.8 -0.6 -13.8 -13.7 -4.2 -2.6 -1.2 :11.4 13.2 3.6 93.3 26.2eFlags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1) House price index e = Eurostat estimates for ES, LV, LT; e = NSI estimates for CZ, PL and SI; e = source NCB for EL, HR, IT, AT, and PT; e = source NSI&NCB for LU. 2) Labour productivity for HR d: employment data use national concept instead of domestic concept.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeignentities),andInternational Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 2.10 (continued): Auxiliary indicators, 2008 

44 

%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-7.7b44.8b:21.4 7.4 41.2 :8.1b:CZ2.2 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 12.0d8.7 -1.9 21.8 -4.1 19.5 1.2 4.9 -7.5 5.3 -4.2 IE-0.6 74.8 1.7 13.5 13.9 3.0 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 1.3b23.8b-0.5b19.8 -0.3 3.6 -0.5 6.6 -0.3 FR0.5 69.4e2.9e19.0 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 -5.1b::::::::IT0.2 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 19.5d11.5 -1.4 28.2 -3.9 12.4 -1.1 17.9 -5.0 12.0 2.5 MT2.5 59.1 2.6 12.4 8.3 -3.6b20.1 -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 :23.6 6.6 32.7 :8.5 :SI2.6 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-2.7b16.7b2.3b13.5b4.0b1.8b-0.5b7.0b-0.6bUK0.8 75.8b1.4b15.0 12.1b3.7b23.2 -1.6 18.7 -0.3 4.5 -0.8 10.4 -2.5 Flags: b: Break in series. d: Definition differs. e: Estimated. 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, EurostatYear2008Employment 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)   

45 

2008200920102011201220132014201520162017BE1.0 0.0 -0.1 -0.1 0.2 -0.5 -0.4 -0.7 -0.8 -0.3 BG-21.0 -18.1 -10.7 -3.2 -0.7 0.3 0.6 0.8 1.3 3.1 CZ-3.0 -2.9 -2.6 -2.6 -2.4 -1.4 -0.6 0.0 0.7 1.0 DK2.6 2.6 4.3 5.5 6.5 6.9 7.7 8.3 8.4 8.1 DE6.0 6.0 5.7 5.8 6.2 6.6 7.1 7.7 8.3 8.4 EE-12.9 -7.1 -1.5 1.9 0.4 0.0 -0.2 1.1 1.5 2.3 IE-6.3 -6.3 -4.8 -3.3 -2.3 -1.2 0.0 2.3 0.4 2.9 EL-13.9 -14.2 -12.9 -11.2 -8.4 -5.3 -2.5 -1.3 -1.0 -0.8 ES-9.3 -7.7 -5.8 -3.8 -2.4 -0.6 0.8 1.3 1.5 1.8 FR-0.2 -0.4 -0.6 -0.7 -0.8 -0.8 -0.8 -0.6 -0.7 -0.6 HR-7.6 -7.2 -5.2 -2.4 -0.7 0.0 0.9 2.4 3.0 3.6 IT-1.9 -2.0 -2.7 -2.8 -2.2 -0.8 0.9 1.5 2.0 2.3 CY-11.8 -11.7 -11.5 -7.7 -7.1 -5.0 -5.1 -3.6 -3.6 -5.0 LV-17.9 -8.4 -0.8 2.2 -1.6 -3.2 -2.7 -1.6 -0.2 0.6 LT-13.3 -9.2 -4.5 -1.5 -2.4 -1.7 0.9 0.6 0.0 -0.7 LU9.1 8.2 7.1 6.6 6.1 5.7 5.4 5.2 5.1 5.0 HU-7.0 -4.9 -2.5 0.1 0.9 2.1 2.3 2.7 3.5 4.0 MT-3.2 -3.2 -4.1 -3.8 -1.1 1.4 4.4 5.3 6.7 8.4 NL7.0 5.8 5.8 7.0 8.6 9.5 9.5 8.2 7.6 8.3 AT3.9 3.6 3.3 2.4 2.0 1.7 2.0 2.0 2.2 2.1 PL-5.7 -5.7 -5.3 -4.8 -4.8 -3.4 -2.4 -1.3 -1.1 -0.3 PT-10.8 -10.8 -10.9 -8.9 -6.0 -2.1 0.0 0.6 0.3 0.4 RO-11.8 -9.9 -7.1 -4.9 -4.9 -3.6 -2.2 -1.0 -1.3 -2.2 SI-3.8 -3.3 -2.0 -0.2 0.7 2.2 4.1 4.9 5.3 5.7 SK-7.3 -5.3 -4.9 -4.4 -2.9 -0.7 1.3 0.4 -0.9 -2.0 FI3.2 2.5 1.6 0.3 -1.0 -2.1 -2.1 -1.6 -1.1 -0.7 SE8.1 7.3 6.6 5.8 5.7 5.5 5.1 4.8 4.4 4.0 UK-3.6 -3.8 -3.7 -3.0 -3.0 -3.6 -4.6 -5.0 -5.0 -4.6 TheCurrentaccountprovidesinformationaboutthetransactionsofacountrywiththerestoftheworld.Itcoversalltransactions(otherthanthoseinfinancialitems)ingoods,services,primaryincomeandsecondaryincome,whichoccurbetweenresidentandnon-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) 

46 

2008200920102011201220132014201520162017BE-1.0 -1.1 1.8 -1.1 -0.1 -0.3 -0.9 -1.0 -0.6 0.7 BG-22.0 -8.3 -1.7 0.3 -0.9 1.3 1.2 0.0 2.6 6.7 CZ-1.9 -2.3 -3.6 -2.1 -1.6 -0.5 0.2 0.2 1.6 1.1 DK2.9 3.5 6.6 6.6 6.3 7.8 8.9 8.3 8.0 8.1 DE5.6 5.7 5.6 6.1 7.0 6.7 7.5 8.9 8.5 7.9 EE-8.7 2.5 1.8 1.3 -1.9 0.5 0.8 1.8 2.0 3.2 IE-6.9 -5.6 -2.0 -2.4 -2.6 1.5 1.1 4.4 -4.2 8.5 EL-15.1 -12.3 -11.4 -10.0 -3.8 -2.0 -1.6 -0.2 -1.3 -1.0 ES-9.3 -4.3 -3.9 -3.2 -0.2 1.5 1.1 1.2 2.3 1.8 FR-0.7 -0.6 -0.6 -0.9 -1.0 -0.5 -1.0 -0.4 -0.8 -0.6 HR-9.0 -5.3 -1.2 -0.8 -0.2 0.9 1.9 4.4 2.5 3.9 IT-2.8 -1.9 -3.4 -3.0 -0.3 1.0 1.9 1.5 2.5 2.8 CY-15.5 -7.7 -11.3 -4.1 -6.0 -4.9 -4.3 -1.5 -5.1 -8.4 LV-12.3 7.8 2.1 -3.2 -3.6 -2.7 -1.7 -0.5 1.6 0.7 LT-13.6 1.4 -1.3 -4.6 -1.4 0.8 3.2 -2.3 -0.8 0.9 LU7.6 7.2 6.7 6.0 5.6 5.4 5.1 5.1 5.1 4.9 HU-7.0 -0.8 0.3 0.8 1.7 3.8 1.5 2.7 6.2 3.2 MT-1.1 -6.6 -4.7 -0.2 1.7 2.7 8.8 4.5 7.0 13.8 NL5.0 5.4 7.0 8.6 10.2 9.8 8.5 6.3 8.1 10.5 AT4.5 2.6 2.9 1.6 1.5 1.9 2.5 1.7 2.5 2.0 PL-6.7 -4.0 -5.4 -5.2 -3.7 -1.3 -2.1 -0.6 -0.5 0.2 PT-12.1 -10.4 -10.1 -6.0 -1.8 1.6 0.1 0.1 0.6 0.5 RO-11.5 -4.7 -5.1 -4.9 -4.8 -1.1 -0.7 -1.2 -2.1 -3.2 SI-5.3 -0.6 -0.1 0.2 2.1 4.4 5.8 4.5 5.5 7.2 SK-6.5 -3.4 -4.7 -5.0 0.9 1.9 1.1 -1.7 -2.2 -2.0 FI2.1 1.6 1.1 -1.7 -2.3 -2.2 -1.8 -0.7 -0.7 -0.7 SE7.8 6.0 6.0 5.6 5.6 5.2 4.5 4.5 4.3 3.3 UK-4.6 -3.9 -3.8 -2.4 -4.2 -5.1 -4.9 -4.9 -5.2 -3.7 TheCurrentaccountprovidesinformationaboutthetransactionsofacountrywiththerestoftheworld.Itcoversalltransactions(otherthanthoseinfinancialitems)ingoods,services,primaryincomeandsecondaryincome,whichoccurbetweenresidentandnon-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) 

47 

2008200920102011201220132014201520162017BE51.8 57.5 65.2 60.9 51.8 51.9 45.1 45.9 57.3 52.6 BG-93.9 -97.3 -91.9 -82.8 -77.9 -73.3 -72.4 -63.0 -49.2 -42.8 CZ-38.1 -43.9 -46.0 -45.2 -45.9 -41.4 -36.6 -32.9 -26.9 -26.5 DK-5.1 0.9 12.8 27.8 36.1 37.2 43.3 34.5 55.3 56.3 DE18.1 25.0 25.6 23.2 28.5 34.5 40.6 46.4 50.7 54.0 EE-75.4 -80.1 -71.2 -54.8 -51.1 -50.1 -47.0 -40.2 -38.9 -31.4 IE-95.7 -116.5 -114.5 -139.8 -137.7 -133.3 -164.3 -198.7 -170.7 -149.3 EL-75.8 -87.5 -99.0 -88.8 -115.9 -130.4 -131.9 -136.1 -139.7 -142.5 ES-80.2 -93.5 -88.6 -91.9 -89.9 -95.2 -98.0 -89.5 -85.3 -83.8 FR-13.8 -14.8 -9.3 -8.7 -12.8 -16.6 -15.6 -12.9 -14.9 -20.1 HR-73.8 -86.8 -94.0 -91.5 -90.7 -88.3 -85.3 -76.4 -69.9 -62.4 IT-21.7 -22.3 -20.2 -18.3 -22.2 -22.7 -21.0 -19.5 -9.9 -5.3 CY-79.1 -100.3 -111.2 -129.9 -129.1 -138.7 -147.0 -145.0 -123.0 -121.5 LV-74.2 -82.7 -82.9 -74.4 -67.2 -66.4 -66.1 -63.5 -58.4 -56.3 LT-51.9 -58.7 -56.2 -52.7 -53.6 -47.1 -45.1 -43.4 -42.7 -35.9 LU16.3 -28.9 -20.4 28.9 50.9 53.9 48.6 30.8 47.2 47.0 HU-101.7 -115.0 -108.3 -105.7 -93.6 -83.1 -80.3 -67.5 -58.5 -52.9 MT4.2 12.6 12.1 6.3 19.6 27.0 43.2 50.8 45.2 62.6 NL-8.0 1.4 11.0 20.1 26.7 30.7 48.0 50.1 62.7 59.7 AT-10.0 -5.0 -5.2 -1.9 -3.2 1.3 3.4 2.2 3.7 3.7 PL-55.6 -57.3 -65.1 -62.4 -65.3 -68.9 -69.1 -62.1 -61.7 -61.2 PT-95.1 -107.9 -104.3 -100.7 -116.5 -116.3 -118.6 -113.2 -105.5 -104.9 RO-51.2 -60.1 -63.9 -65.8 -67.4 -62.8 -57.3 -54.6 -48.9 -47.7 SI-39.4 -43.6 -47.2 -45.2 -50.1 -47.2 -45.8 -39.6 -36.8 -32.3 SK-58.1 -66.5 -61.9 -64.4 -61.4 -62.3 -63.6 -64.4 -66.6 -65.6 FI-4.6 3.2 16.5 15.1 11.7 3.9 -3.2 1.6 3.3 2.4 SE-7.9 -7.2 -5.6 -8.5 -15.7 -16.0 -2.3 -1.2 5.0 1.8 UK9.7 -15.7 -7.6 -11.3 -28.4 -18.0 -22.1 -20.1 -2.4 -8.6 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 2008-2015: 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) 

48 

2008200920102011201220132014201520162017BE3.4 4.0 0.5 -1.5 -4.3 -0.2 -0.6 -1.6 -0.3 0.9 BG18.5 18.3 9.7 1.9 -4.0 -0.9 -2.8 -4.2 -4.7 -3.3 CZ23.1 13.6 12.1 -0.5 0.5 -3.0 -10.0 -8.0 -3.6 5.4 DK2.2 5.5 0.2 -2.5 -7.8 -2.5 -1.2 -1.6 -1.7 -2.1 DE0.9 2.9 -3.7 -4.8 -9.0 -1.8 -0.4 -2.1 -2.6 -2.5 EE12.6 13.6 4.6 -0.8 -3.6 3.1 4.8 5.9 4.4 2.9 IE7.3 5.2 -5.4 -9.6 -12.2 -3.8 -3.6 -6.4 -7.0 -6.2 EL2.4 4.8 2.8 1.8 -5.0 -4.4 -5.6 -5.6 -4.0 -2.8 ES5.2 4.6 -0.3 -2.5 -5.3 -0.3 -1.0 -3.1 -4.3 -2.5 FR1.5 2.6 -2.2 -4.4 -7.8 -2.2 -1.3 -2.8 -3.1 -2.9 HR5.6 5.9 1.8 -4.7 -8.4 -3.9 -0.8 0.2 0.1 0.0 IT1.9 3.6 -1.9 -3.2 -6.2 0.1 0.2 -2.4 -3.3 -3.1 CY2.3 3.6 0.0 -3.0 -5.9 -0.8 -1.7 -6.1 -7.4 -6.6 LV20.7 23.5 6.7 -2.4 -8.6 -1.7 0.4 2.6 4.9 1.7 LT8.9 16.7 7.2 1.7 -6.7 -0.6 1.7 4.3 5.3 2.3 LU3.4 3.8 1.2 0.1 -2.4 0.8 0.5 -0.6 -1.4 -0.9 HU7.9 7.7 -1.3 -4.2 -0.8 -3.8 -6.8 -7.1 -5.1 0.1 MT5.9 5.9 -0.7 -5.0 -7.6 -1.2 0.1 -2.7 -2.8 -2.3 NL-0.1 2.7 -1.5 -2.4 -6.0 0.5 0.7 -0.8 -2.2 -1.6 AT-0.1 2.0 -2.0 -1.8 -4.7 0.8 1.9 1.4 1.0 0.3 PL13.9 -4.1 -1.3 -11.4 1.4 -4.3 -1.0 -1.3 -5.0 -3.4 PT2.1 1.1 -3.1 -3.0 -4.0 -0.6 -1.8 -3.0 -1.8 -0.7 RO9.4 -4.9 -10.9 -3.2 -2.0 0.5 -1.0 2.8 -2.5 -5.5 SI2.2 5.2 1.2 -1.1 -4.5 -0.6 1.2 0.4 -0.5 -2.0 SK25.0 27.1 11.0 3.4 -3.2 2.1 1.2 -1.1 -1.5 -1.9 FI-0.4 5.0 -1.3 -2.8 -8.3 0.2 2.7 2.2 0.5 -2.6 SE-2.2 -8.5 -3.3 3.2 10.3 5.1 -3.7 -8.2 -9.1 -5.4 UK-11.5 -19.9 -20.4 -7.8 6.0 3.4 10.1 10.8 0.2 -10.7 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) 

49 

2008200920102011201220132014201520162017BE2.8 0.5 -2.6 0.6 -2.3 1.5 0.2 -3.3 2.9 1.5 BG8.7 4.0 -3.0 1.0 -2.1 0.1 -0.8 -3.5 -0.4 0.6 CZ15.0 -3.8 1.3 2.0 -2.8 -2.2 -5.2 -0.7 2.5 3.6 DK2.2 2.6 -4.4 -0.6 -2.9 1.0 0.8 -3.4 1.0 0.3 DE0.6 1.1 -5.3 -0.6 -3.3 2.2 0.8 -4.9 1.6 0.9 EE6.6 2.0 -3.8 1.1 -0.9 2.9 2.8 0.1 1.5 1.3 IE3.6 -1.5 -7.3 -1.0 -4.4 1.6 -0.8 -7.1 0.9 0.1 EL1.6 2.4 -1.2 0.6 -4.4 -0.6 -0.6 -4.5 1.1 0.6 ES2.5 0.4 -3.2 0.3 -2.4 1.9 -0.5 -4.5 0.7 1.3 FR1.6 0.4 -4.2 -0.6 -3.2 1.6 0.3 -4.7 1.3 0.5 HR4.0 1.4 -3.4 -2.7 -2.5 1.2 0.4 -1.4 1.1 0.3 IT1.4 1.3 -4.6 0.1 -1.9 1.9 0.3 -4.4 0.8 0.5 CY3.2 1.0 -4.1 0.2 -2.1 1.1 -0.8 -6.5 -0.2 0.1 LV10.2 5.1 -8.0 0.8 -1.5 -1.0 2.9 0.6 1.2 -0.2 LT6.1 6.8 -5.4 0.6 -2.0 0.9 3.0 0.4 1.9 0.0 LU2.0 0.9 -1.7 0.8 -1.6 1.6 0.5 -2.6 0.7 1.0 HU2.5 -5.3 1.6 -0.5 -1.9 -1.4 -3.6 -2.3 0.8 1.7 MT3.8 0.7 -5.1 -0.7 -2.0 1.5 0.6 -4.7 1.4 1.1 NL0.6 1.9 -3.9 -0.3 -1.8 2.7 -0.1 -3.3 1.2 0.5 AT0.3 1.1 -3.4 0.5 -1.8 2.1 1.7 -2.3 1.7 0.9 PL8.8 -14.5 6.1 -2.3 -2.2 0.2 1.0 -2.5 -3.5 2.7 PT0.6 -0.6 -3.1 0.7 -1.6 0.3 -0.5 -2.9 1.6 0.6 RO-5.4 -7.2 1.5 2.9 -6.1 4.0 1.4 -2.5 -1.3 -1.8 SI1.6 2.3 -2.6 -0.7 -1.2 1.4 1.1 -2.0 0.5 -0.4 SK8.5 6.8 -4.3 1.1 0.1 1.0 0.2 -2.2 0.5 -0.2 FI1.6 3.2 -5.8 0.0 -2.6 2.9 2.5 -3.1 1.2 -0.6 SE-2.5 -7.1 6.7 4.1 -0.7 1.7 -4.6 -5.4 0.8 -0.7 UK-13.1 -9.3 1.1 0.5 4.4 -1.5 7.1 5.0 -10.9 -4.6 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 the 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) 

50 

2008200920102011201220132014201520162017BE-11.0 -9.0 -11.4 -7.6 -15.6 -13.1 -13.4 -11.9 -2.3 3.9 BG35.6 19.2 8.1 11.3 -1.0 -0.2 5.6 11.8 8.2 19.4 CZ53.1 27.2 11.7 7.4 -4.5 -9.8 -6.2 -2.2 2.5 8.2 DK-4.1 -1.1 -10.6 -13.8 -17.7 -17.8 -15.9 -8.5 -2.9 0.5 DE-4.5 -6.7 -7.8 -9.1 -16.6 -12.4 -8.9 -2.6 2.6 6.5 EE37.0 16.3 9.4 24.3 6.8 9.7 20.5 7.4 0.0 2.6 IE-16.7 1.9 -6.3 -10.3 -16.3 -10.6 -14.6 37.8 58.7 64.4 EL4.8 -10.3 -14.3 -15.8 -25.3 -25.7 -18.5 -21.0 -19.1 -10.0 ES-14.3 -9.0 -11.7 -8.6 -18.2 -11.2 -12.3 -4.0 2.7 9.8 FR-18.5 -13.6 -17.2 -15.4 -18.3 -14.2 -14.5 -3.7 1.3 2.7 HR-5.7 -5.2 -13.2 -16.0 -24.1 -23.3 -20.3 -6.1 7.8 20.0 IT-15.9 -17.9 -19.0 -19.3 -25.6 -20.2 -15.3 -9.3 -3.2 2.0 CY-25.3e-9.1e-15.8e-11.4e-21.7e-15.3 -24.1 -12.2 -2.1 6.9 LV76.8 52.6 21.7 26.6 7.9 5.9 11.0 12.5 9.4 7.8 LT43.1e30.8 19.0 29.6 32.3 19.3 33.7 14.9 5.1 9.7 LU15.7 11.9 3.2 -3.8 -10.2 7.4 14.9 28.7 31.5 25.2 HU25.3 12.9 3.4 -2.4 -21.3 -22.8 -16.7 -9.2 -0.2 11.3 MT10.9 45.8 37.8 17.7 12.2 -0.6 -12.5 -2.3 10.0 11.2 NL-6.1 -5.4 -8.2 -8.3 -12.8 -11.4 -11.3 -6.8 -2.9 1.2 AT-4.5 -6.1 -12.6 -12.5 -21.7 -18.4 -15.7 -9.2 -3.3 2.3 PL51.4e34.4 24.7 15.2 1.4 -0.3 4.7 9.2 17.8 28.4 PT-11.1 -8.1 -6.9 -8.6 -16.6 -7.5 -6.1 1.7 5.5 14.6 RO91.9 69.4 53.3 50.0 12.3 13.7 20.1 20.5 23.3 37.0 SI16.3 9.6 -1.7 -5.8 -21.0 -18.4 -12.9 -4.4 4.0 18.6 SK31.9e9.5 3.8 -2.7 -10.3 -4.1 1.9 4.2 8.1 6.7 FI-4.4 -13.3 -19.7 -23.5 -31.7 -31.4 -26.4 -21.4 -13.8 -4.3 SE-6.8 -15.9 -12.8 -12.2 -19.5 -17.2 -9.6 -9.3 -7.4 -4.3 UK-22.5 -19.6 -23.6 -25.7 -21.0 -12.0 -9.6 2.0 1.0 -1.0 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) 

51 

2008200920102011201220132014201520162017BE-1.5 0.9 -6.7 -2.6 -6.4 1.4 0.5 -5.1 7.9 -0.5 BG5.6 -4.7 -7.8 12.0 -4.8 6.6 0.8 -2.4 8.4 5.0 CZ4.4 0.8 -5.1 -0.2 -4.1 -1.4 4.8 -1.0 4.5 1.2 DK2.3 -1.8 -9.9 -4.3 -5.1 2.2 0.5 -2.0 1.6 -1.8 DE-3.3 -1.5 -6.3 -2.0 -4.7 1.6 2.5 0.1 3.3 -1.1 EE0.9 -8.1 2.7 15.1 -2.6 3.7 1.0 -8.5 7.2 -0.1 IE-6.9 18.4 -12.9 -9.5 -3.6 -0.6 13.1 40.6 4.2 -0.1 EL1.2 -5.7 -11.6 -6.7 -5.1 0.6 3.4 -14.3 -4.5 5.6 ES-4.5 2.1 -9.7 -1.1 -6.1 3.7 0.9 -1.3 5.8 0.4 FR-2.4 0.5 -10.5 -2.6 -4.5 2.4 0.2 0.9 2.4 -3.2 HR1.5 -0.9 -12.8 -6.0 -7.9 2.5 3.1 2.7 7.9 2.5 IT-6.3 -5.1 -8.7 -3.5 -5.1 0.5 0.8 -2.2 3.0 -0.1 CY-5.9e12.7 -14.9 -5.0 -9.2 2.4 0.9 -1.5 6.0 -0.8 LV4.4 -1.9 -5.0 6.9 3.8 2.4 2.8 -3.7 3.9 2.3 LT20.0 -11.7 4.6 12.9 5.7 8.2 -1.1 -10.1 3.3 10.3 LU-3.6 2.5 -8.0 -1.5 0.3 15.2 9.7 3.1 0.7 -4.5 HU3.6 -3.5 -8.0 -4.1 -10.8 1.7 4.2 0.2 5.4 -0.5 MT14.3 16.9 -11.0 -4.2 -1.5 1.2 3.0 -0.6 7.8 -0.4 NL-0.2 0.4 -6.9 -3.5 -3.2 1.5 0.5 -2.1 0.5 0.9 AT-2.4 -1.9 -10.5 -2.5 -6.3 1.7 1.4 -3.6 3.8 -0.9 PL7.6 0.1 -1.8 -1.5 -2.6 5.8 5.1 2.4 6.3 6.2 PT-3.8 -0.2 -9.1 0.3 -4.8 6.8 1.3 -1.5 4.1 3.4 RO14.1 0.5 -0.5 6.1 -7.2 15.5 6.2 -0.2 8.6 3.1 SI-0.6 -2.8 -10.0 -1.8 -7.5 2.7 3.7 -1.2 6.8 5.6 SK-1.8 -7.4 -4.7 2.9 0.7 5.0 -1.6 -2.6 6.7 -0.7 FI-0.1 -11.3 -11.9 -6.1 -6.8 0.3 -4.8 -6.0 3.1 3.5 SE-4.3 -8.7 -1.6 -0.2 -6.2 -1.6 -0.3 -1.3 1.9 -3.1 UK-11.0 0.2 -7.6 -2.5 -1.7 -0.8 2.9 4.3 -3.4 -3.6 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)  

52 

2008200920102011201220132014201520162017BE8.9 10.0 7.3 5.3 5.4 8.3 5.6 1.3 -0.4 1.1 BG25.5 34.6 29.5 17.7 12.2p16.0p17.8p14.9p9.1p13.6pCZ6.8 9.0 6.4 3.4 3.8 4.2 4.0 0.1 2.7 5.9 DK13.2 16.4 9.5 3.6 -0.1 1.5 2.3 3.0 3.3 3.0 DE-0.1 8.1 7.5 5.7 2.7 5.9 6.7 5.4 4.7 5.1 EE48.7 39.2 13.8 -2.6 0.0 9.1 14.1 13.2 12.0 12.4 IE17.8 8.6 -4.8 -16.5b-12.7 -3.8 -3.7 -18.6 -18.8 -17.2 EL7.4 15.8 14.0 6.8p-2.3p-10.0p-10.4p-9.7p-3.3p-1.0pES13.7 11.8 5.7 -1.0 -5.1 -4.1 -3.4 -0.3 -0.5p0.0pFR6.3 8.0 7.4 5.4 4.1 4.6 4.4 2.3 1.3p1.3pHR9.9d15.8d11.7d6.3d-1.5d-4.0d-6.5d-6.3d-5.1d-4.3dIT8.5 11.1 8.9 5.3 2.1 2.9 2.3 1.6 1.6 1.1 CY5.8 12.7 11.1 9.6 2.9 -2.6 -8.0 -10.9 -6.9p-2.7pLV78.3 37.2 -2.2 -21.0 -6.9 8.1 16.3 17.5 16.9 14.7 LT28.8 13.0 0.3 -7.8 -4.2 6.2 8.7 11.8 15.3 16.0 LU12.6 17.6 16.0 8.8 5.9 7.6 7.1 2.6 3.6 7.1 HU11.4 12.6 7.0 4.3 5.0 6.2 5.7 -0.6 3.8 6.7 MT9.5 11.2 9.2 11.1 8.7 9.8 3.3 -0.4 0.2 1.7 NL5.7 11.3 7.7 5.3 2.6 4.8 3.7 -0.4 -0.6p-0.2pAT6.3 10.2 9.0 5.8 3.8 6.4 7.9 6.2 5.3 3.7 PL10.5 12.3 11.3b4.2 5.3 3.1 2.9 0.2 2.5p4.5pPT4.5 6.6 4.2 -0.6 -6.3 -3.4 -2.7 0.5 0.1 3.5pRO32.9 28.7 38.3 4.2 4.3b-5.6 5.4 0.6 9.5 11.9pSI10.6 18.5 16.1 8.3 0.6 0.5 0.0 -0.4 0.9 3.4 SK6.0 10.9 9.5 6.1 0.8 2.2 1.8 2.1 3.1 6.9 FI7.5 15.2 13.2 9.4 6.0 9.1 7.8 3.7 1.3 -2.5 SE9.8 15.9 8.3 5.6 4.0 8.6 6.9 2.5 2.5 3.7 UK10.0 11.0 8.7 6.7 3.0 3.3 3.4 2.4 3.0 5.4 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 ESA 2010 transmission programme.Flags: b: Break in series. d: Definition differs. 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)  

53 

2008200920102011201220132014201520162017BE4.7 3.2 -0.7 2.7 3.4 2.0 0.1 -0.8 0.3 1.6 BG12.8 10.2 4.3 2.5 5.0p7.8p4.1p2.5p2.3p8.4pCZ3.6 2.6 0.1 0.7 3.0 0.5 0.4 -0.8 3.1 3.6 DK5.7 4.7 -1.0 0.0 0.9 0.6 0.8 1.6 0.9 0.5 DE2.3 6.3 -1.2 0.7 3.2 1.9 1.4 1.9 1.3 1.8 EE16.7 2.2 -4.6 -0.2 5.0 4.1 4.3 4.3 3.0 4.7 IE8.0 -4.1 -8.2 -5.2b0.3 1.1 -5.1 -15.2 0.9 -3.2 EL5.3 7.1 1.0 -1.4p-2.0p-6.9p-1.8p-1.3p-0.3p0.6pES5.7 1.6 -1.6 -1.0 -2.6 -0.6 -0.3 0.6 -0.7p0.2pFR2.9 3.4 1.0 0.9 2.2 1.4 0.7 0.2 0.4p0.8pHR5.2d6.8d-0.5d0.0d-1.0d-3.1d-2.6d-0.8d-1.8d-1.8dIT4.2 4.6 0.0 0.7 1.4 0.7 0.1 0.7 0.7 -0.3 CY3.1 7.9 -0.2 1.7 1.4 -5.5 -4.0 -1.7 -1.4p0.4pLV21.0 -10.9 -9.3 -2.3 5.0 5.3 5.2 6.1 4.8 3.1 LT9.7 -1.7 -7.0 0.8 2.2 3.2 3.2 5.1 6.4 3.8 LU9.1 7.4 -1.0 2.3 4.6 0.5 1.8 0.3 1.5 5.2 HU4.3 2.9 -0.3 1.7 3.6 0.8 1.2 -2.6 5.2 4.1 MT3.2 5.6 0.2 5.0 3.4 1.2 -1.2 -0.4 1.8 0.2 NL3.5 5.5 -1.3 1.2 2.8 0.8 0.1 -1.3 0.6p0.5pAT3.7 5.1 0.0 0.7 3.1 2.5 2.2 1.4 1.6 0.6 PL7.8 0.9 2.4b0.8 2.0 0.2 0.6 -0.6 2.5p2.5pPT2.8 2.7 -1.2 -2.0 -3.2 1.8 -1.3 0.0 1.4 2.1pRO23.8 1.4 10.1 -6.7 1.5b-0.3 4.2 -3.1 8.5 6.5pSI6.4 8.5 0.6 -0.8 0.8 0.5 -1.2 0.3 1.8 1.3 SK4.2 6.3 -1.1 1.0 1.0 0.3 0.5 1.3 1.3 4.2 FI5.8 8.5 -1.4 2.3 5.2 1.4 1.1 1.2 -0.9 -2.7 SE5.2 5.7 -2.6 2.6 4.1 1.7 1.0 -0.2 1.7 2.2 UK1.8 5.2 1.6 -0.1 1.5 1.8 0.0 0.5 2.5 2.4 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 one year. Input data are obtained from the official national accounts' country data, through ESA 2010 transmission programme.Flags: b: Break in series. d: Definition differs. 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) 

54 

2008200920102011201220132014201520162017BE1.1 0.0 1.4 1.0 0.3 0.4 -1.3 1.2p1.1p1.5pBG17.6p-21.0p-12.3p-8.7 -5.3 0.4 1.5 1.6b7.1 6.2 CZ7.7e-4.7 -2.2 -1.7 -3.6 -0.8 1.8 3.8p6.7p9.1pDK-7.8 -13.0 0.3 -4.0 -5.0 3.2 3.1 6.2 4.7 3.2 DE-0.3 1.3 -0.9 1.4 2.0 2.1 2.2 4.1 5.3 2.9 EE-16.5 -37.1 2.2 2.6 3.2 7.5 12.6 7.0 3.8 1.8 IE-8.4 -13.6 -11.7p-17.8p-14.8p-0.5p15.1p11.0p6.6p9.5pEL-2.5e-4.7e-8.0e-7.5e-12.1e-9.1e-5.1e-3.6e-1.5e-2.2eES-4.8 -5.8 -3.6 -9.8 -16.8 -10.0 0.1 3.8 4.6 4.5 FR-1.9 -4.7 3.6 4.0 -2.0 -2.6 -1.7 -1.8 1.1 1.8 HR-2.6e-8.0 -7.7 -2.1 -4.6 -5.8 -1.1 -2.4 2.1 2.8 IT-0.5e-0.2e-0.7be-1.5 -5.1 -7.5 -5.0 -4.0 -0.2p-2.0pCY0.9 -6.9 -7.8p-4.3p-5.2p-3.9p-1.0p0.2bp1.7 1.3pLV-10.9 -34.9 -8.7 4.1 -0.4 6.5 4.3 -2.4 7.3 5.5 LT-1.8 -32.8 -8.6 2.4 -3.2 0.2 6.3 4.6 4.5 5.4 LU0.2 -0.6 4.2 0.5 2.2 3.3 3.9 5.3 5.9 4.1 HU-3.2 -8.9 -5.9 -6.9 -9.3 -4.3 3.4 13.3 13.6 3.3 MT7.1 -6.1 -1.0 -3.5 0.4 -1.4 2.1 4.0 4.8 4.1pNL0.1 -3.0 -3.3 -4.0 -7.9 -7.9 -0.1 3.4 4.4 6.0 AT-1.1e3.6e4.4be3.0 4.8 3.0 1.4 3.3 7.0 3.5 PL-4.6e-5.4e-6.0e-4.6 -6.6 -4.8 1.2 2.6 2.3 1.7 PT0.9be1.0 -1.0 -6.4 -8.8 -2.7 3.9 2.1 6.1 7.9 RO:-26.5e-12.7 -16.0 -9.2 -2.7 -3.1 1.8 5.0 4.0 SI1.4 -10.2 -1.3 0.9 -8.4 -7.2 -6.6 1.4 3.8 6.2 SK12.9 -12.7 -4.9 -5.2 -6.0 -0.4 1.5 5.5 7.0 4.4 FI-2.4p-0.4p4.8 0.0 -0.4 -1.3 -1.6 -0.3 -0.3 0.5 SE-2.0 0.8 6.4 0.8 0.7 4.7 8.3 12.1 7.6 4.6 UK-8.2 -9.7 4.0 -5.0 -1.7 0.3 6.0 5.4 5.4 2.4 Thedeflatedhousepriceindex(HPI),orrealhousepriceindex,istheratiobetweenHPIandthenationalaccountsdeflatorforprivatefinalconsumptionexpenditure(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 the one year percentage change of the deflated HPI. The indicator is based on Price statistics and National accounts data.Flags: b: Break in series. e: Estimated. p: Provisional. 1) e = NSI estimates for CZ, PL and RO; e = source NCB for EL, HR, IT, AT and PT.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.11: Private sector credit flow, consolidated (% of GDP)   

55 

2008200920102011201220132014201520162017BE16.5 12.1 1.7 21.7 13.2 8.2 -2.1 12.4 23.0 -1.5 BG33.3 4.7 3.7 1.4 3.0 7.3 -1.1 -0.3 4.1 6.2 CZ9.3 0.5 2.6 2.1 2.9 4.4 1.7 0.3 4.5 4.1 DK18.8 -1.9 -2.9 4.4 7.9 -3.0 -0.3 1.8 2.2 -1.4 DE0.5 -0.9 0.0 1.6 1.3 2.0 0.1 3.2 3.7 4.9 EE10.5 -6.0 -7.6 -1.1 6.8 3.5 5.6 2.7 6.0 3.6 IE22.0 -4.5 2.2 16.4 -0.6 -1.4 2.5 -2.3 -15.6 -7.5 EL15.5 2.2 2.4 -6.5p-5.9p-4.8p-2.8p-2.8p-2.1p-0.8pES11.7 -1.2 0.9 -3.7 -11.2 -10.4 -6.9 -1.8 -1.2p0.2pFR9.8 3.3 4.6 6.4 4.2 2.1 3.2 4.6 7.0p7.0pHR16.1 2.6 4.9 -2.3 -3.0 -0.6 0.1 -1.4 -0.1 1.2 IT6.6 0.8 5.0 3.1 -0.8 -3.0 -0.5 -1.4 -0.1 2.1 CY29.8 13.3 15.1 13.0 16.5 -13.3 -0.3 4.1 9.7p8.7pLV9.1 -8.6 2.5 -2.0 -2.1 0.9 -11.8 0.7 0.3 0.3 LT10.4 -9.4 -5.9 -2.2 0.4 -0.4 0.3 2.4 4.4 3.7 LU-5.6 7.4 -22.5 21.4 25.9 27.8 29.7 27.6 5.2 -15.5 HU12.6 6.1 -4.1 -4.4 -6.1 -0.9 -0.1 -2.5 -3.0 0.9 MT13.4 12.7 7.5 5.4 -0.7 2.7 3.9 2.7 11.3 2.9 NL12.0 9.7 2.8 7.6 5.5 8.3 3.7 0.9 5.6 3.0pAT5.4 1.3 0.3 3.0 1.2 1.0 0.9 2.2 3.4 4.3 PL14.2 4.4 4.3 6.7 4.8 3.3 4.6 3.5 5.2 2.7 PT15.9 5.3 5.3 -0.9 -3.9 -1.6 -5.7 -1.9 -2.1 1.3pRO12.7 -1.6 0.9 2.8 0.3 -1.4 -2.4 0.2 0.6 1.7pSI15.5 2.9 1.9 0.4 -2.9 -4.0 -4.7 -5.0 -0.8 0.8 SK10.9 3.0 2.9 3.0 3.1 5.1 5.7 8.2 9.5 5.9 FI16.7 0.8 7.3 3.6 7.4 2.8 1.7 6.9 1.4 8.2 SE18.9 5.9 5.3 6.9 2.5 4.5 4.9 7.4 7.5 13.1 UK12.8 -3.9 -0.8 1.6 1.7 7.0 6.7 3.3 11.5 8.4 1)LU:duetoimprovedsourcesandmethods,therearesignificantrevisionsparticularlyfor2014-2015.2)IE2016:ThedeclineforIErelativeto2015predominantlyreflectsrestructuringandre-domicilingactivitiesoflargemultinationalcompanies.3)NL:significantrevisions from 2008 to 2016 due to the 2018 national accounts benchmark revision.      (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: p: Provisional.  
 
 
 
 
Table 3.12: Private sector debt, consolidated (% of GDP)   

56 

2008200920102011201220132014201520162017BE162.7 172.0 169.2 181.5 189.3 169.2 166.8 180.9 198.9 187.0 BG131.4 133.8 132.5 124.2 125.0 132.3 123.4 110.5 104.8 100.1 CZ63.8 65.9 67.9 68.3 70.7 73.7 71.5 68.1 68.9 67.4 DK222.3 232.2 220.6 221.0 224.0 216.1 214.0 213.1 213.3 204.0 DE109.7 113.0 106.7 102.5 101.8 102.7 98.6 98.2 98.5 100.1 EE136.7 153.2 140.4 120.4 117.8 115.9 116.1 113.5 112.2 106.4 IE236.4 256.1 257.0 274.0 279.6 267.7 278.3 306.0 283.3 243.6 EL113.0 116.5 128.1 130.2p131.5p130.3p129.2p126.7p124.0p116.4pES195.9 201.6 200.6 196.4 188.0 177.2 165.8 154.8 146.8p138.8pFR122.4 130.6 132.0 135.3 138.3 137.4 141.5 142.8 146.6p148.2pHR110.8 118.9 125.2 122.7 120.0 117.7 118.0 113.0 105.3 98.4 IT113.9 122.5 123.3 122.7 125.1 121.6 119.0 115.1 111.8 110.5 CY285.0 306.0 315.6 321.6 328.1 340.1 352.4 353.5 337.8p316.3pLV104.5 125.4 134.0 115.3 97.9 92.6 96.2 88.9 88.0 83.5 LT76.7 83.3 74.5 64.7 61.1 56.3 53.9 54.8 56.1 56.1 LU302.7 332.2 284.2 284.3 303.7 313.3 356.6 379.4 353.4 322.9 HU105.0 116.5 115.1 114.5 101.8 95.2 91.4 84.6 77.9 71.4 MT153.3 168.1 162.4 159.8 153.2 143.9 135.7 122.5 123.5 120.2 NL230.5 245.4 244.2 246.4 250.7 254.9 268.1 264.2 262.1 252.1pAT126.7 131.9 132.3 129.4 128.2 127.1 124.8 124.2 124.1 122.5 PL67.3 67.1 69.7 73.9 73.4 75.4 78.1 78.9 81.6 76.4 PT196.2 204.2 201.5 204.1 210.3 202.4 190.5 179.4 169.3 162.2pRO63.9 69.8 74.7 73.7 72.1 66.8 62.1 59.1 55.6 50.8pSI105.6 113.5 115.1 113.0 112.3 107.2 97.4 86.7 80.6 75.6 SK64.9 69.2 67.4 70.2 71.8 76.9 82.5 83.3 90.5 96.1 FI132.7 142.8 148.9 145.4 148.6 147.7 149.8 152.9 148.5 146.4 SE189.1 201.6 189.1 191.3 193.1 195.4 194.7 188.3 188.2 194.4 UK189.6 190.9 184.1 178.5 178.4 172.8 166.0 164.8 170.0 169.0 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: p: Provisional. 1)LU:duetoimprovedsourcesandmethods,therearesignificantrevisionsparticularlyfor2014-2015.2)IE2015:significantincreasesforIEduetore-domicilingoflargemultinationalcorporationsandmovementoflargepartsoftheirbalancesheets;IE2016:Thedecline for IE relative to 2015 predominantly reflects restructuring and re-domiciling activities of large multinational companies.3) NL: significant revisions from 2008 to 2016 due to the 2018 national accounts benchmark revision.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
Table 3.13: General government gross debt (% of GDP) 

57 

2008200920102011201220132014201520162017BE92.5 99.5 99.7 102.6 104.3 105.5 107.6 106.5 106.1 103.4 BG13.0 13.7 15.3 15.2 16.7 17.1 27.1 26.2 29.6 25.6 CZ28.3 33.6 37.4 39.8 44.5 44.9 42.2 40.0 36.8 34.7 DK33.3 40.2 42.6 46.1 44.9 44.0 44.3 39.9 37.9 36.1 DE65.2 72.6 81.0 78.6 79.9 77.4 74.5 70.8 67.9 63.9 EE4.5 7.0 6.6 6.1 9.7 10.2 10.5 9.9 9.2 8.7 IE42.4 61.5 86.0 110.9 119.9 119.7 104.1 76.8 73.4 68.4 EL109.4 126.7 146.2 172.1 159.6 177.4 178.9 175.9 178.5 176.1 ES39.5 52.8 60.1 69.5 85.7 95.5 100.4 99.3 99.0 98.1 FR68.8 83.0 85.3 87.8 90.6 93.4 94.9 95.6 98.2 98.5 HR39.0 48.3 57.3 63.8 69.4 80.4 84.0 83.7 80.2 77.5 IT102.4 112.5 115.4 116.5 123.4 129.0 131.8 131.6 131.4 131.2 CY45.6 54.3 56.8 66.2 80.1 103.1 108.0 108.0 105.5 96.1 LV18.2 35.8 46.8 42.7 41.2 39.0 40.9 36.8 40.3 40.0 LT14.6 28.0 36.2 37.2 39.8 38.8 40.5 42.6 39.9 39.4 LU14.9 15.7 19.8 18.7 22.0 23.7 22.7 22.2 20.7 23.0 HU71.6 77.8 80.2 80.5 78.4 77.1 76.6 76.6 75.9 73.3 MT62.6 67.6 67.5 70.1 67.7 68.4 63.7 58.6 56.3 50.9 NL54.7 56.8 59.3 61.7 66.2 67.7 67.9 64.6 61.9 57.0 AT68.7 79.9 82.7 82.4 81.9 81.3 84.0 84.8 83.0 78.3 PL46.3 49.4 53.1 54.1 53.7 55.7 50.4 51.3 54.2 50.6 PT71.7 83.6 96.2 111.4 126.2 129.0 130.6 128.8 129.2 124.8 RO12.4 22.1 29.7 34.0 36.9 37.6 39.2 37.8 37.3 35.1 SI21.8 34.6 38.4 46.6 53.8 70.4 80.4 82.6 78.7 74.1 SK28.5 36.3 41.2 43.7 52.2 54.7 53.5 52.2 51.8 50.9 FI32.7 41.7 47.1 48.5 53.9 56.5 60.2 63.6 63.0 61.3 SE37.7 41.3 38.6 37.8 38.1 40.7 45.5 44.2 42.4 40.8 UK49.7 63.7 75.2 80.8 84.1 85.2 87.0 87.9 87.9 87.4 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) 

58 

2008200920102011201220132014201520162017BE7.6 7.5 7.7 7.8 7.7 7.7 8.2 8.5 8.3 7.8bBG7.2 6.4 7.6d9.5d11.3d12.2 12.2 11.2 9.4 7.7 CZ5.6 5.5 6.1 6.9 7.0 6.9 6.7 6.1 5.1 4.0 DK3.7d4.4 5.6 7.0 7.5 7.4 7.0 6.6 6.3 6.0 DE8.7 7.8 7.3 6.8 6.1 5.5 5.2 4.9 4.6 4.2 EE5.3d7.9d11.9d14.2 13.0 10.3 8.7 7.4 6.8 6.3 IE5.5 8.1 11.3 14.2 15.2 14.9 13.7 11.9 10.1 8.4 EL8.4 8.6 10.0 13.4 18.4 23.3 26.2 26.3 25.0 23.3 ES9.3 12.5 16.4 19.7 22.0 24.1 25.1 24.2 22.1 19.6 FR8.1 8.2 8.6 9.2 9.4 9.8 10.1 10.3 10.3 10.0 HR10.0d9.3 9.9 11.6 13.8 15.6 16.8 16.9 15.6 13.5 IT6.5 6.8 7.6 8.2 9.2 10.4 11.8 12.2 12.1 11.6 CY4.1 4.3 5.1 6.5 8.7 11.9 14.6 15.7 14.7 13.0 LV6.9 10.4 14.9 17.7 16.9 14.4 12.6 10.9 10.1 9.4 LT5.3 8.0 12.5 15.7 15.5 13.5 12.0 10.5 9.2 8.0 LU4.6d4.7 4.9 4.8 4.8 5.3 5.7 6.1 6.3 6.1 HU7.6d8.4d9.7d10.7 11.1 10.7 9.6 8.2 6.5 5.4 MT6.9 6.9 7.0 7.1 7.0 6.8 6.6 6.3 5.8 5.2 NL4.3 4.1 4.4 4.8 5.3 6.0 6.8 7.2 6.8 5.9 AT4.8 4.8 4.7 4.9 4.8 5.0 5.3 5.6 5.8 5.7 PL10.2 8.3d8.3d9.2d9.8 10.0 9.8 8.9 7.6 6.2 PT8.9 9.5 10.5 11.9 13.6 15.0 15.4 14.4 12.6 10.9 RO6.4 6.2 6.4 6.9 7.0 7.0 6.9 6.9 6.5 5.9 SI5.1 5.1 5.9 7.1 8.1 9.1 9.6 9.6 8.9 7.9 SK11.4 11.0 12.1 13.4d14.1d14.0d13.8 13.0 11.5 9.8 FI7.0 7.2 7.7 8.1 8.0 7.9 8.2 8.8 9.0 8.9 SE6.5 6.9 7.7 8.2 8.1 7.9 8.0 7.8 7.4 7.0 UK5.4 6.2 7.0 7.8 7.9 7.8 7.2 6.3 5.4 4.8 Theunemploymentrateisthenumberofunemployedpersonsexpressedasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed),basedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthethreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhethree-yearbackwardmovingaverage. The data source is the quarterly EU Labour Force Survey (EU LFS), which covers the resident population in private households.Flags: b: Break in series. d: Definition differs. 1) 2017 BE: revision in the Labour Force Survey methodology; IE: introduction of the Labour Force Survey in substitution to the Quarterly National Household Survey (QNHS) as data source.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.15: Unemployment rate (%) 

59 

2008200920102011201220132014201520162017BE7.0 7.9 8.3 7.2 7.6 8.4 8.5 8.5 7.8 7.1bBG5.6 6.8 10.3d11.3 12.3 13.0 11.4 9.2 7.6 6.2 CZ4.4 6.7 7.3 6.7 7.0 7.0 6.1 5.1 4.0 2.9 DK3.4 6.0 7.5 7.6 7.5 7.0 6.6 6.2 6.2 5.7 DE7.4 7.6 7.0 5.8 5.4 5.2 5.0 4.6 4.1 3.8 EE5.5d13.5 16.7 12.3 10.0 8.6 7.4 6.2 6.8 5.8 IE6.8 12.6 14.6 15.4 15.5 13.8 11.9 10.0 8.4 6.7 EL7.8 9.6 12.7 17.9 24.5 27.5 26.5 24.9 23.6 21.5 ES11.3 17.9 19.9 21.4 24.8 26.1 24.5 22.1 19.6 17.2 FR7.4 9.1 9.3 9.2 9.8 10.3 10.3 10.4 10.1 9.4 HR8.6 9.3 11.8 13.7 15.8 17.4 17.2 16.1 13.4 11.1 IT6.7 7.7 8.4 8.4 10.7 12.1 12.7 11.9 11.7 11.2 CY3.7 5.4 6.3 7.9 11.9 15.9 16.1 15.0 13.0 11.1 LV7.7 17.5 19.5 16.2 15.0 11.9 10.8 9.9 9.6 8.7 LT5.8 13.8 17.8 15.4 13.4 11.8 10.7 9.1 7.9 7.1 LU4.9 5.1 4.6 4.8 5.1 5.9 6.0 6.5 6.3 5.6 HU7.8d10.0 11.2 11.0 11.0 10.2 7.7 6.8 5.1 4.2 MT6.5 7.3 7.3 6.8 6.8 6.8 6.3 5.9 5.2 4.6 NL3.7 4.4 5.0 5.0 5.8 7.3 7.4 6.9 6.0 4.9 AT4.1 5.3 4.8 4.6 4.9 5.4 5.6 5.7 6.0 5.5 PL7.1 8.1d9.7 9.7 10.1 10.3 9.0 7.5 6.2 4.9 PT8.8 10.7 12.0 12.9 15.8 16.4 14.1 12.6 11.2 9.0 RO5.6 6.5 7.0 7.2 6.8 7.1 6.8 6.8 5.9 4.9 SI4.4 5.9 7.3 8.2 8.9 10.1 9.7 9.0 8.0 6.6 SK9.6 12.1 14.5 13.7d14.0 14.2 13.2 11.5 9.7 8.1 FI6.4 8.2 8.4 7.8 7.7 8.2 8.7 9.4 8.8 8.6 SE6.2 8.3 8.6 7.8 8.0 8.0 7.9 7.4 6.9 6.7 UK5.6 7.6 7.8 8.1 7.9 7.5 6.1 5.3 4.8 4.4 Theunemploymentrateisthenumberofunemployedpersonsexpressedasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed),basedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthethreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS),which covers the resident population in private households.Flags: b: Break in series. d: Definition differs. 1) 2017 BE: revision in the Labour Force Survey methodology; IE: introduction of the Labour Force Survey in substitution to the Quarterly National Household Survey (QNHS) as data source.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.16: Total financial sector liabilities, non-consolidated (1 year % change) 

60 

2008200920102011201220132014201520162017BE-4.4 0.3 -1.6 5.4 -5.1 0.9 3.3 2.7 2.4 0.7 BG-0.8 1.3 -5.4 5.4 10.2 4.3 5.6 6.2 11.2 1.1 CZ6.0 2.5 3.2 4.3 5.2 11.4 5.2 8.1 16.3 22.9 DK0.0 5.6 9.7 1.6 2.5 1.8 7.3 -1.1 4.4 4.1 DE4.6 -6.3 -1.1 2.9 3.3 -6.2 4.6 2.9 5.1 4.0 EE4.3 -7.8 -8.9 -0.2 10.5 10.4 13.2 8.6 6.9 9.7 IE6.5 3.4 6.3 -2.3 -1.8 1.9 19.5 9.6 1.5 4.3 EL4.4 10.1 8.4 -3.7 -2.4 -17.6 -8.2 15.3 -16.6 -12.9 ES3.8 3.8 -1.8 3.0 2.9 -10.9 -0.4 -1.2 0.8 4.0 FR2.1 -0.6 3.5 6.9 1.4 0.5 5.6 2.2 4.5 4.3 HR-8.1 4.5 3.5 2.0 1.2 2.8 0.7 1.9 3.3 3.9 IT-1.5 5.1 4.2 5.1 7.3 -2.7 0.6 1.3 3.3 4.3 CY115.6 11.7 8.4 -6.1 6.4 -15.3 -3.6 11.1 1.8 -2.3 LV9.0 -9.2 -0.3 -4.1 5.2 5.2 10.4 12.2 5.8 6.1 LT4.6 -4.3 0.1 2.0 -0.7 -1.4 16.2 7.0 16.6 14.0 LU-6.9 6.8 13.1 10.9 15.2 10.3 36.0 17.3 4.5 -1.7 HU26.1 1.9 -0.3 6.3 -5.8 -1.3 8.4 0.4 19.3 -8.0 MT13.2 4.3 12.4 11.0 6.1 1.6 6.4 1.3 3.8 4.7 NL2.6 8.4 4.8 9.5 5.0 -0.5 4.8 3.8 6.0 2.0pAT10.9 -2.0 -1.9 1.5 0.4 -3.2 -0.8 -0.1 -2.6 1.8 PL6.8 9.0 13.6 4.8 10.7 7.4 0.7 2.4 9.0 6.3 PT4.4 8.9 11.5 -4.5 -3.0 -5.4 -7.5 -1.6 -0.3 1.8 RO14.0 16.0 5.0 4.6 4.4 0.8 1.3 4.1 6.9 8.1 SI6.6 7.7 -3.4 -1.2 -0.7 -10.3 -0.2 -3.7 3.2 5.1 SK10.5 -4.7 1.6 0.3 0.7 1.7 8.7 10.8 8.5 17.9 FI16.8 7.8 19.9 28.8 -1.4 -11.6 9.2 1.4 3.9 -3.8 SE12.0 3.5 2.7 2.8 5.5 9.1 13.0 2.4 9.3 6.8 UK46.7 -17.0 7.3 10.4 -3.5 -7.7 4.8 -8.5 11.7 -1.6 1) LU: due to improved sources and methods there are significant revisions particularly for 2014-2015. 2) NL: significant revisions from 2008 to 2016 due to the 2018 national accounts benchmark revision.      (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) 

61 

2008200920102011201220132014201520162017BE2197637.9 2204691.0 2168326.6 2285631.7 2169220.9 2188507.7 2260373.4 2321308.5 2376566.8 2392255.3 BG123667.0 125274.0 118468.0 124924.0 137672.0 143539.0 151616.0 161054.0 179022.0 180951.0 CZ6157737.0 6312649.0 6516094.0 6794617.0 7147743.0 7963007.0 8374722.0 9051263.0 10524787.0 12935162.0 DK12236022.0 12924706.0 14179420.0 14409675.0 14775965.0 15040150.0 16140443.0 15959785.0 16661314.0 17336328.0 DE13603537.0 12740353.0 12604990.0 12968900.0 13398237.0 12561910.0 13137296.0 13520236.0 14204845.0 14774825.0 EE33370.9 30755.9 28010.3 27965.7 30896.6 34121.1 38608.6 41945.2 44834.4 49167.9 IE3358865.0 3471735.0 3691722.0 3607447.0 3542735.0 3611739.0 4317763.0 4732176.0 4805403.0 5012561.0 EL549507.5 605067.1 656118.6 631959.1 616701.1 508214.0 466659.9 538248.3 448993.5 391003.5 ES4733935.0 4916111.0 4827731.0 4972402.0 5114934.0 4556067.0 4539233.0 4482552.0 4516377.0 4695994.0 FR11065312.0 10998887.0 11388577.0 12179133.0 12353518.0 12413707.0 13103562.0 13388907.0 13990973.0 14591497.0 HR565636.2 590947.3 611780.5 623869.3 631525.9 649428.3 654054.0 666799.5 688894.7 716023.7 IT4735581.0 4976946.0 5184784.0 5450460.0 5846061.0 5686570.0 5720573.0 5795409.0 5988952.0 6244714.0 CY282906.5 315923.9 342510.7 321597.2 342130.1 289887.7 279329.4 310203.8 315935.4 308731.6 LV43669.8 39659.1 39536.4 37903.6 39875.6 41956.1 46314.6 51959.0 54982.0 58313.0 LT37492.7 35877.1 35895.2 36598.5 36328.4 35824.4 41613.6 44530.1 51937.4 59227.6 LU5297824.1 5656241.1 6396879.5 7095835.3 8174150.8 9018954.4 12262295.6 14386535.5 15031755.5 14772832.9 HU89730583.0 91421972.0 91180798.0 96887939.0 91227110.0 90020485.0 97601558.0 98002963.0 116953002.0 107613150.0 MT160550.1 167530.7 188323.8 209016.7 221699.1 225138.5 239535.2 242725.2 251967.4 263863.1 NL6716963.0 7282428.0 7635569.0 8361232.0 8777345.0 8735769.0 9158485.0 9504297.0 10072382.0 10274916.0pAT1575738.2 1543904.0 1514665.3 1537010.7 1543115.1 1493546.2 1481380.6 1479500.8 1440426.2 1466702.4 PL1735191.0 1890637.0 2148301.0 2251923.0 2492477.0 2676757.0 2696016.0 2761300.0 3011186.0 3200300.0 PT818444.7 891105.7 993723.8 948903.5 920876.4 871566.7 805980.9 792830.4 790304.6 804285.7 RO476992.4 553326.4 581084.6 607584.9 634292.4 639179.4 647769.3 674048.7 720242.3 778443.8 SI72748.0 78338.0 75678.0 74747.0 74212.0 66581.0 66457.0 64008.0 66072.0 69443.0 SK97052.4 92500.3 93992.1 94316.6 95021.6 96677.4 105042.2 116429.4 126278.2 148886.9 FI523685.0 564326.0 676740.0 871477.0 859641.0 760129.0 830335.0 841660.0 874085.0 840730.0 SE16028473.0 16582888.0 17027972.0 17500967.0 18456564.0 20141197.0 22758209.0 23308100.0 25478532.0 27222717.0 UK23634014.0 19617738.0 21058516.0 23256276.0 22434412.0 20712536.0 21714700.0 19860412.0 22192968.0 21843028.0 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.datatakeintoaccounttransactionswithinthesamesectorandexpressedinmillionsofnationalcurrency.TheindicatorisbasedonNationalaccountsdata.Definitionsregardingsectorsandinstrumentsare 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 pp) 

62 

2008200920102011201220132014201520162017BE0.4 0.4 0.6 -0.4 0.0 -0.2 1.0 0.7 0.1 0.3bBG5.7 2.7 0.4b-1.9b-0.1 1.7b3.1b2.2 0.3 2.3 CZ-0.7 -0.2 0.3 0.8b1.5 2.7 3.0b2.4 2.1 2.4 DK0.9 -0.4 -0.7 -1.4 -1.6 -1.3 -1.2 -0.1 1.9b0.7bDE2.1b1.4 1.1b1.4b0.9 0.9b0.4b0.4 0.3 0.5 EE3.5 1.2 0.7 0.5 0.8 1.2 0.5 1.9 2.4 3.6 IE0.9 -1.9 -4.0b-3.6 -1.9 0.2 0.6 1.0 0.9 0.9 EL0.3 0.7b1.3 0.6 0.1b-0.3 0.1 0.3 0.7 0.9 ES2.7b2.0 1.7 1.2 1.2 0.8 0.3 0.0 -0.1 -0.3 FR0.2e0.6e0.5e0.3e0.5e0.9e1.3e1.0e0.7e0.5 HR2.5e2.6e-0.6 -1.7 -1.7 -1.4 2.0 3.0 1.9 0.3 IT0.4 -0.3 -0.4 -0.8 1.2 1.4 1.8 0.5 1.5 1.5 CY1.2 0.0b-0.3 -0.1 0.5b0.0 0.8 0.4 -0.2 -0.4 LV5.1 2.5 0.4 -1.4 0.9 1.0 1.8 1.3 2.3 2.4 LT-0.3 2.0 2.3 3.0 2.2 2.2 2.3 2.3 3.1 2.2 LU0.2 2.0b1.3b1.1 0.7b1.7 2.9 1.5b0.1 -0.6 HU-0.1 -0.8 0.3 1.2 2.5 2.8 4.6 4.9 5.4 4.2 MT1.5b1.5 1.6 2.7 4.5 5.9 6.0 4.9 4.3 4.4 NL2.4 2.3 -0.3b-1.2b-0.7 1.2b0.9b0.6 0.3 0.7 AT2.5 1.9 0.9b0.7 0.8 1.1 0.8 0.4 0.7 1.0 PL-0.6 1.3 2.1b1.9 1.8 1.7b2.2 1.6 1.8 1.7 PT0.7 -0.2 -0.2 -0.3b0.0 -0.7 -0.4b0.0 0.7 1.5 RO0.6 -0.5 1.9b1.2 1.7 0.0b1.6 1.3 0.7 1.6 SI1.1 0.9 0.2 -1.5 -1.4 -1.0 0.6 1.4 1.1 3.3 SK-0.1 -0.2 0.4 -0.1b1.0 1.2 1.6b1.5 2.0 1.8 FI1.3 -0.2 -1.1 -1.1 0.2 0.7 0.5 0.6 0.7 1.3 SE1.1b0.1 0.0 0.6 1.4 2.0 1.6 1.4 1.0 1.0 UK0.4b0.0 -0.1b-0.3b0.4 1.0 1.2 0.8 0.9 0.9 Thelong-termunemploymentrateisthenumberofpersonsunemployedfor12monthsorlongerasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed).TheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforcebasedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhethreeyearschangeinpercentagepoints.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS),whichcoverstheresident population in private households.Flags: b: Break in series. e: Estimated. 1)2017BE:revisionintheLabourForceSurveymethodology;IE:introductionoftheLabourForceSurveyinsubstitutiontotheQuarterlyNationalHouseholdSurvey(QNHS)asdatasource;DK:LabourForceSurveydatacollectionimprovement,introductionofCAWI.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.19: Activity rate - % of total population aged 15-64 

63 

2008200920102011201220132014201520162017BE67.1 66.9 67.7 66.7 66.9 67.5 67.7 67.6 67.6 68.0bBG67.8 67.2 66.7b65.9b67.1 68.4 69.0 69.3 68.7 71.3 CZ69.7 70.1 70.2 70.5b71.6 72.9 73.5 74.0 75.0 75.9 DK80.7 80.2 79.4 79.3 78.6 78.1 78.1 78.5 80.0b78.8bDE75.9 76.3 76.7b77.3b77.2 77.6 77.7 77.6 77.9 78.2 EE74.2 74.0 73.9 74.7 74.8 75.1 75.2 76.7 77.5 78.8 IE74.8 73.0 71.6 71.2 71.1 71.8 71.8 72.1 72.7 72.7 EL66.7 67.4b67.8 67.3 67.5 67.5 67.4 67.8 68.2 68.3 ES72.7 73.1 73.5 73.9 74.3 74.3 74.2 74.3 74.2 73.9 FR69.4e69.8e69.8e69.7e70.3e70.7e71.0 71.3 71.4 71.5 HR65.8 65.6 65.1 64.1 63.9 63.7 66.1 66.9 65.6 66.4 IT62.9 62.3 62.0 62.1 63.5 63.4 63.9 64.0 64.9 65.4 CY73.6 73.0b73.6 73.5 73.5 73.6 74.3 73.9 73.4 73.9 LV74.2 73.5 73.0 72.8 74.4 74.0 74.6 75.7 76.3 77.0 LT68.4 69.6 70.2 71.4 71.8 72.4 73.7 74.1 75.5 75.9 LU66.8 68.7b68.2 67.9 69.4 69.9 70.8 70.9b70.0 70.2 HU61.2 61.2 61.9 62.4 63.7 64.7 67.0 68.6 70.1 71.2 MT59.1 59.4 60.4 61.8 63.9 66.3 67.8 68.8 70.6 72.2 NL79.3 79.7 78.2b78.1b79.0 79.4 79.0 79.6 79.7 79.7 AT73.9 74.3 74.4 74.6 75.1 75.5 75.4 75.5 76.2 76.4 PL63.8 64.7 65.3b65.7 66.5 67.0 67.9 68.1 68.8 69.6 PT73.9 73.4 73.7 73.6b73.4 73.0 73.2 73.4 73.7 74.7 RO62.9 63.1 64.9b64.1 64.8 64.9 65.7 66.1 65.6 67.3 SI71.8 71.8 71.5 70.3 70.4 70.5 70.9 71.8 71.6 74.2 SK68.8 68.4 68.7 68.7b69.4 69.9 70.3 70.9 71.9 72.1 FI76.0 75.0 74.5 74.9 75.2 75.2 75.4 75.8 75.9 76.7 SE79.3 78.9 79.1 79.9 80.3 81.1 81.5 81.7 82.1 82.5 UK75.8b75.7 75.4 75.5 76.1 76.4 76.7 76.9 77.3 77.6 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), which covers the resident population in private households.Flags: b: Break in series. e: Estimated. 1)2017BE:revisionintheLabourForceSurveymethodology;IE:introductionoftheLabourForceSurveyinsubstitutiontotheQuarterlyNationalHouseholdSurvey(QNHS)asdatasource;DK:LabourForceSurveydatacollectionimprovement,introductionofCAWI.      (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 pp) 

64 

2008200920102011201220132014201520162017BE-1.1 -0.7 0.2 0.2 -0.1 -0.1 0.8 1.0 0.1 -0.8bBG-3.1 -2.0 0.6b3.4b3.8 2.7 0.6 -1.2 -2.9 -3.5 CZ-2.0 -1.9 0.2 0.5b1.0 0.0 0.0 -0.6 -1.3 -1.7 DK-0.6 -0.2 0.9 1.3 1.5 0.3 -0.1 -0.4 -0.4b-0.4bDE-2.0 -2.2 -1.6b-1.1b-1.1 -1.0 -0.6 -0.4 -0.6 -0.6 EE-2.7 0.8 5.3 5.4 1.8 -3.8 -3.8 -3.1 -1.7 -1.4 IE0.3 2.1 5.5 7.1 5.7 1.1 -2.2 -3.9 -3.8 -3.6 EL-1.5 -1.0b1.5 5.1 10.6 12.8 10.7 3.7 -1.5 -3.9 ES-0.2 2.5 5.6 6.9 6.7 5.7 4.0 0.4 -3.5 -5.2 FR-0.8e-0.5e0.6e1.1e0.8e0.5e0.5 0.5 0.2 -0.3 HR-2.1 -1.6 0.6 3.1 5.1 4.4 1.7 0.0 -4.4 -5.5 IT-0.7 0.1 1.1 1.3 2.2 2.9 3.4 1.3 -0.2 -1.2 CY-0.8 -0.3b0.6 1.1 3.0 4.8 6.1 3.2 -0.3 -3.2 LV-2.6 2.1 7.2 6.9 3.3 -3.1 -4.2 -3.3 -1.7 -1.3 LT-3.1u0.7 6.0 6.7 3.3 -2.3 -3.2 -2.7 -2.1 -2.1 LU0.4 -0.2b0.1 -0.2 0.4 0.5 0.2 0.3b0.4 0.5 HU0.4 0.8 2.0 1.6 0.8 -0.6 -1.5 -1.9 -2.5 -2.0 MT-0.8 0.2 0.4 0.4 0.1 -0.3 -0.3 -0.6 -0.9 -1.1 NL-1.0 -0.9 0.0b0.7b1.1 1.3 1.3 1.1 0.0 -1.0 AT-0.4 -0.3 -0.1 0.2 0.0 0.1 0.3 0.5 0.6 0.3 PL-7.9 -5.3 -1.9b1.2 1.6 1.4 0.2 -1.1 -2.2 -2.3 PT-0.1 0.3 1.9 2.6b3.5 3.6 2.2 -0.5 -3.1 -3.9 RO-1.6 -1.9 -0.8b0.5 0.8 0.8 -0.1 0.0 -0.2 -0.8 SI-1.2 -1.1 1.0 1.7 2.5 2.0 1.7 0.4 -0.9 -2.2 SK-5.1 -3.7 0.9 2.6b2.9 0.8 0.1 -1.8 -4.2 -4.2 FI-0.9 -0.5 0.5 0.5 0.2 -0.3 0.2 0.7 0.6 0.2 SE-0.3 0.1 0.8 0.7 0.4 -0.2 -0.1 0.0 -0.1 -0.2 UK0.4b0.7 1.2 1.3 0.8 0.2 -0.5 -1.1 -1.4 -1.1 Thelong-termunemploymentrateisthenumberofpersonsunemployedfor12monthsorlongerasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed).TheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforcebasedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealready found a job to start within the next three months. The data source is the quarterly EU Labour Force Survey (EU LFS), which covers the resident population in private households.Flags: b: Break in series. e: Estimated. u: Low reliability. 1)2017BE:revisionintheLabourForceSurveymethodology;IE:introductionoftheLabourForceSurveyinsubstitutiontotheQuarterlyNationalHouseholdSurvey(QNHS)asdatasource;DK:LabourForceSurveydatacollectionimprovement,introductionofCAWI.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.21: Long-term unemployment rate - % of active population aged 15-74 

65 

2008200920102011201220132014201520162017BE3.3 3.5 4.0 3.5 3.4 3.9 4.3 4.4 4.0 3.5bBG2.9 3.0 4.7b6.3b6.8 7.4 6.9 5.6 4.5 3.4 CZ2.2 2.0 3.0 2.7b3.0 3.0 2.7 2.4 1.7 1.0 DK0.5 0.6 1.5 1.8 2.1 1.8 1.7 1.7 1.4b1.3bDE3.9 3.5 3.3b2.8b2.4 2.3 2.2 2.0 1.7 1.6 EE1.7 3.7 7.6 7.1 5.5 3.8 3.3 2.4 2.1 1.9 IE1.7 3.5 6.9 8.8 9.2 8.0 6.6 5.3 4.2 3.0 EL3.7 3.9b5.7 8.8 14.5 18.5 19.5 18.2 17.0 15.6 ES2.0 4.3 7.3 8.9 11.0 13.0 12.9 11.4 9.5 7.7 FR2.9e3.3e3.9e4.0e4.1e4.4e4.5 4.6 4.6 4.2 HR5.3 5.1 6.6 8.4 10.2 11.0 10.1 10.2 6.6 4.6 IT3.0 3.4 4.0 4.3 5.6 6.9 7.7 6.9 6.7 6.5 CY0.5 0.6b1.3 1.6 3.6 6.1 7.7 6.8 5.8 4.5 LV1.9 4.5 8.8 8.8 7.8 5.7 4.6 4.5 4.0 3.3 LT1.3u3.3 7.4 8.0 6.6 5.1 4.8 3.9 3.0 2.7 LU1.6 1.2b1.3 1.4 1.6 1.8 1.6 1.9b2.2 2.1 HU3.6 4.2 5.5 5.2 5.0 4.9 3.7 3.1 2.4 1.7 MT2.6 2.9 3.1 3.0 3.0 2.8 2.7 2.4 1.9 1.6 NL0.9 0.8 1.2b1.6b1.9 2.5 2.9 3.0 2.5 1.9 AT1.0 1.2 1.2 1.2 1.2 1.3 1.5 1.7 1.9 1.8 PL2.4 2.5 3.0b3.6 4.1 4.4 3.8 3.0 2.2 1.5 PT3.6 4.2 5.7 6.2b7.7 9.3 8.4 7.2 6.2 4.5 RO2.4 2.2 2.4b2.9 3.0 3.2 2.8 3.0 3.0 2.0 SI1.9 1.8 3.2 3.6 4.3 5.2 5.3 4.7 4.3 3.1 SK6.6 6.5 9.2 9.2b9.4 10.0 9.3 7.6 5.8 5.1 FI1.2 1.4 2.0 1.7 1.6 1.7 1.9 2.3 2.3 2.1 SE0.8 1.1 1.6 1.5 1.5 1.4 1.4 1.5 1.3 1.2 UK1.4b1.9 2.5 2.7 2.7 2.7 2.2 1.6 1.3 1.1 Thelong-termunemploymentrateisthenumberofpersonsunemployedfor12monthsorlongerasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed).TheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforcebasedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealready found a job to start within the next three months. The data source is the quarterly EU Labour Force Survey (EU LFS), which covers the resident population in private households.Flags: b: Break in series. e: Estimated. u: Low reliability. 1)2017BE:revisionintheLabourForceSurveymethodology;IE:introductionoftheLabourForceSurveyinsubstitutiontotheQuarterlyNationalHouseholdSurvey(QNHS)asdatasource;DK:LabourForceSurveydatacollectionimprovement,introductionofCAWI.      (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 pp)   

66 

2008200920102011201220132014201520162017BE-3.5 1.4 3.6 0.7 -2.1 1.3 4.5 2.3 -3.6 -3.9bBG-9.1 -3.2 7.8d13.1 13.0 6.5 -1.2 -6.5 -11.2 -10.9 CZ-9.4 -0.9 7.6 8.2 2.9 0.6 -2.2 -6.9 -8.4 -8.0 DK-0.6 4.1 6.4 6.2 2.3 -0.9 -1.6 -3.3 -1.0 -1.6 DE-5.0 -2.5 -2.0 -1.9 -3.1 -2.0 -0.8 -0.8 -0.7 -0.9 EE-3.1d15.3 22.8 10.4 -6.5 -14.2 -7.4 -7.8 -5.3 -2.9 IE4.8 15.7 18.9 16.1 6.3 -1.4 -6.2 -10.6 -9.9 -9.0 EL-3.9 0.7 10.3 22.8 29.6 25.3 7.7 -5.5 -11.0 -8.8 ES4.9 19.8 23.4 21.7 15.2 14.0 7.0 -4.6 -11.1 -14.6 FR-2.0 1.6 3.8 3.6 0.8 1.6 1.6 0.3 -0.3 -1.9 HR-8.1 -3.5 6.9 13.0 16.8 17.6 8.3 0.1 -18.1 -17.7 IT-2.9 3.5 7.5 8.0 10.0 12.1 13.5 5.0 -2.2 -8.0 CY-4.9 3.8 6.4 13.4 13.9 22.3 13.6 5.1 -9.8 -11.3 LV-1.5 19.7 25.6 17.4 -4.8 -13.0 -11.4 -12.2 -5.9 -2.6 LT-2.5 19.6 27.3 19.3 -2.9 -13.8 -13.3 -10.4 -7.4 -6.0 LU2.7 1.0 0.2 -0.9 1.5 1.1 5.9 -1.4 2.2 -6.9 HU0.1d7.3 8.3 6.5 1.8 0.2 -5.6 -10.9 -13.7 -9.7 MT-4.3 -0.9 -0.2 1.6 -0.4 -0.3 -1.5 -2.2 -1.8 -1.2 NL-3.2 0.2 1.7 1.4 1.5 2.1 2.7 -0.4 -2.4 -3.8 AT-2.5 0.9 0.1 0.4 -1.3 0.2 1.4 1.2 1.5 -0.5 PL-19.7 -9.2d2.1 8.6 5.9 3.6 -1.9 -5.7 -9.6 -9.1 PT0.8 4.1 6.8 8.6 12.7 9.9 4.5 -6.0 -9.9 -10.9 RO-1.5 -0.2 2.8 6.3 2.6 1.6 0.1 -0.9 -3.1 -5.7 SI-5.5 -0.3 4.6 5.3 7.0 6.9 4.5 -4.3 -6.4 -9.0 SK-11.1 0.6 13.3 14.4d6.4 -0.2 -4.0 -7.5 -11.5 -10.8 FI-3.6 2.8 4.9 3.6 -2.5 -1.5 0.4 3.4 0.2 -0.4 SE-2.4 3.5 5.6 2.6 -1.3 -1.2 0.1 -3.3 -4.7 -5.1 UK2.2 5.2 5.6 6.3 2.1 0.8 -4.3 -6.6 -7.7 -4.9 Theyouthunemploymentrateistheunemploymentrateofpeopleaged15-24asapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed)ofthesameage.TheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforcebasedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweek;orhavealreadyfound a job to start within the next three months. The data source is the quarterly EU Labour Force Survey (EU LFS), which covers the resident population in private households.Flags: b: Break in series. d: Definition differs. 1)2017BE:revisionintheLabourForceSurveymethodology;IE:introductionoftheLabourForceSurveyinsubstitutiontotheQuarterlyNationalHouseholdSurvey(QNHS)asdatasource;DK:LabourForceSurveydatacollectionimprovement,introductionofCAWI.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
Table 3.23: Youth unemployment rate - % of active population aged 15-24 

67 

2008200920102011201220132014201520162017BE18.0 21.9 22.4 18.7 19.8 23.7 23.2 22.1 20.1 19.3bBG11.9 15.1 21.9d25.0 28.1 28.4 23.8 21.6 17.2 12.9 CZ9.9 16.6 18.3 18.1 19.5 18.9 15.9 12.6 10.5 7.9 DK8.0 11.8 13.9 14.2 14.1 13.0 12.6 10.8 12.0 11.0 DE10.4 11.1 9.8 8.5 8.0 7.8 7.7 7.2 7.1 6.8 EE12.0d27.4 32.9 22.4 20.9 18.7 15.0 13.1 13.4 12.1 IE13.5 24.5 28.1 29.6 30.8 26.7 23.4 20.2 16.8 14.4 EL21.9 25.7 33.0 44.7 55.3 58.3 52.4 49.8 47.3 43.6 ES24.5 37.7 41.5 46.2 52.9 55.5 53.2 48.3 44.4 38.6 FR19.0 23.6 23.3 22.6 24.4 24.9 24.2 24.7 24.6 22.3 HR23.6 25.4 32.3 36.6 42.2 49.9 44.9 42.3 31.8 27.2 IT21.2 25.3 27.9 29.2 35.3 40.0 42.7 40.3 37.8 34.7 CY9.0 13.8 16.6 22.4 27.7 38.9 36.0 32.8 29.1 24.7 LV13.6 33.3 36.2 31.0 28.5 23.2 19.6 16.3 17.3 17.0 LT13.3 29.6 35.7 32.6 26.7 21.9 19.3 16.3 14.5 13.3 LU17.3 16.5 15.8 16.4 18.0 16.9 22.3 16.6 19.1 15.4 HU19.5d26.4 26.4 26.0 28.2 26.6 20.4 17.3 12.9 10.7 MT12.4 15.2 14.0 14.0 14.8 13.7 12.5 12.6 11.9 11.3 NL8.6 10.2 11.1 10.0 11.7 13.2 12.7 11.3 10.8 8.9 AT8.5 10.7 9.5 8.9 9.4 9.7 10.3 10.6 11.2 9.8 PL17.2 20.6d23.7 25.8 26.5 27.3 23.9 20.8 17.7 14.8 PT21.6 25.3 28.2 30.2 38.0 38.1 34.7 32.0 28.2 23.8 RO17.6 20.0 22.1 23.9 22.6 23.7 24.0 21.7 20.6 18.3 SI10.4 13.6 14.7 15.7 20.6 21.6 20.2 16.3 15.2 11.2 SK19.3 27.6 33.9 33.7d34.0 33.7 29.7 26.5 22.2 18.9 FI16.5 21.5 21.4 20.1 19.0 19.9 20.5 22.4 20.1 20.1 SE20.2 25.0 24.8 22.8 23.7 23.6 22.9 20.4 18.9 17.8 UK15.0 19.1 19.9 21.3 21.2 20.7 17.0 14.6 13.0 12.1 Theyouthunemploymentrateistheunemploymentrateofpeopleaged15-24asapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed)ofthesameage.TheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforcebasedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhethreeyearschangeinpercentagepoints.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS),whichcoverstheresidentpopulation in private households.Flags: b: Break in series. d: Definition differs. 1)2017BE:revisionintheLabourForceSurveymethodology;IE:introductionoftheLabourForceSurveyinsubstitutiontotheQuarterlyNationalHouseholdSurvey(QNHS)asdatasource;DK:LabourForceSurveydatacollectionimprovement,introductionofCAWI.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.24: Real GDP (1 year % change) 

68 

2008200920102011201220132014201520162017BE0.8 -2.3 2.7 1.8 0.2 0.2 1.3 1.7 1.5 1.7 BG6.0 -3.6 1.3 1.9 0.0 0.5 1.8 3.5 3.9 3.8 CZ2.7 -4.8 2.3 1.8 -0.8 -0.5 2.7 5.3 2.5 4.3 DK-0.5 -4.9 1.9 1.3 0.2 0.9 1.6 1.6 2.0 2.3 DE1.1 -5.6 4.1 3.7 0.5 0.5 2.2 1.7 2.2 2.2 EE-5.4 -14.7 2.3 7.6 4.3 1.9 2.9 1.9 3.5 4.9 IE-4.4 -5.0 1.9 3.7 0.2 1.3 8.8 25.1 5.0 7.2 EL-0.3 -4.3 -5.5 -9.1p-7.3p-3.2p0.7p-0.4p-0.2p1.5pES1.1 -3.6 0.0 -1.0 -2.9 -1.7 1.4 3.6 3.2p3.0pFR0.3 -2.9 1.9 2.2 0.3 0.6 1.0 1.1 1.2p2.2pHR2.0 -7.3 -1.5 -0.3 -2.3 -0.5 -0.1 2.4 3.5 2.9 IT-1.1 -5.5 1.7 0.6 -2.8 -1.7 0.1 0.9 1.1 1.6 CY3.6 -2.0 1.3 0.4 -2.9 -5.8 -1.3 2.0 4.8p4.2pLV-3.5 -14.4 -3.9 6.4 4.0 2.4 1.9 3.0 2.1 4.6 LT2.6 -14.8 1.6 6.0 3.8 3.5 3.5 2.0 2.4 4.1 LU-1.3 -4.4 4.9 2.5 -0.4 3.7 4.3 3.9 2.4 1.5 HU0.9 -6.6 0.7 1.7 -1.6 2.1 4.2 3.5 2.3 4.1 MT3.3 -2.5 3.5 1.3 2.7 4.6 8.2 9.5 5.2 6.7 NL2.2 -3.7 1.3 1.6 -1.0 -0.1 1.4 2.0 2.2 2.9pAT1.5 -3.8 1.8 2.9 0.7 0.0 0.7 1.1 2.0 2.6 PL4.2 2.8 3.6 5.0 1.6 1.4 3.3 3.8 3.1 4.8 PT0.2 -3.0 1.9 -1.8 -4.0 -1.1 0.9 1.8 1.9 2.8pRO8.3 -5.9 -2.8 2.0 2.1 3.5 3.4 3.9 4.8 7.3pSI3.3 -7.8 1.2 0.6 -2.7 -1.1 3.0 2.3 3.1 4.9 SK5.6 -5.4 5.0 2.8 1.7 1.5 2.8 4.2 3.1 3.2 FI0.7 -8.3 3.0 2.6 -1.4 -0.8 -0.6 0.1 2.5 2.8 SE-0.6 -5.2 6.0 2.7 -0.3 1.2 2.6 4.5 2.7 2.1 UK-0.3 -4.2 1.7 1.6 1.4 2.0 2.9 2.3 1.8 1.7 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: p: Provisional.       (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.25: Gross fixed capital formation (% of GDP) 

69 

2008200920102011201220132014201520162017BE24.0 22.6 21.8 22.6 22.6 22.2 23.0 23.1 23.3 23.5 BG33.0 27.9 22.2 20.9 21.3 21.2 21.1 21.0 18.6 18.5 CZ29.0 27.1 26.9 26.5 25.9 25.1 25.1 26.5 24.9 24.7 DK22.9 20.2 18.1 18.2 18.8 19.1 19.2 19.5 20.4 20.5 DE20.3 19.2 19.4 20.3 20.1 19.7 20.0 19.9 20.1 20.3 EE31.2 22.7 21.2 26.2 28.6 27.7 25.6 23.6 23.0 24.4 IE24.8 21.1 17.5 16.8 19.7 18.7 20.7 24.2 35.7 23.5 EL23.8 20.8 17.6 15.3p12.6p12.2p11.5p11.6p12.1p12.9pES29.2 24.3 23.0 21.5 19.8 18.8 19.3 19.9 19.9p20.5pFR23.6 22.1 22.1 22.4 22.5 22.0 21.8 21.5 21.9p22.5pHR28.1 25.2 21.2 20.2 19.6 19.7 19.2 19.6 20.0 20.1 IT21.2 20.0 19.9 19.7 18.4 17.2 16.7 16.9 17.2 17.6 CY27.2 23.4 22.3 18.9 15.1 14.1 11.7 13.0 17.7p20.9pLV32.1 22.5 19.4 22.2 25.4 23.2 22.6 22.1 19.6 20.9 LT26.0 17.9 16.9 18.5 17.4 18.5 18.9 19.6 19.3 19.2 LU20.3 18.4 17.6 19.2 20.2 19.5 20.0 18.1 18.6 18.9 HU23.2 22.7 20.2 19.7 19.3 20.9 22.2 22.5 19.6 22.2 MT19.6 18.2 21.4 18.0 18.1 17.5 17.3 25.3 24.4 21.1 NL22.1 21.3 19.7 20.1 18.8 18.4 17.6 22.1 20.0 20.5pAT23.3 22.4 21.6 22.5 22.6 23.0 22.7 22.7 23.2 23.6 PL23.1 21.4 20.3 20.7 19.8 18.8 19.7 20.1 18.0 17.7 PT22.8 21.1 20.5 18.4 15.8 14.8 15.0 15.5 15.5 16.6pRO37.4 25.4 26.1 27.2 27.4 24.8 24.3 24.8 22.9 22.6pSI29.6 24.3 21.3 20.2 19.2 19.8 19.4 18.8 17.5 18.5 SK25.5 21.7 22.1 24.0 21.2 20.7 20.7 24.3 21.3 21.4 FI24.4 22.8 21.9 22.2 22.3 21.2 20.6 20.4 21.7 22.1 SE24.4 22.4 22.3 22.8 22.7 22.4 23.1 23.6 23.9 25.0 UK17.1 15.4 15.5 15.5 15.8 16.0 16.6 16.8 16.8 17.2 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 ESA 2010 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) 

70 

2008200920102011201220132014201520162017BE1.9 2.0 2.1 2.2 2.3 2.3 2.4 2.5 2.5p:BG0.5 0.5 0.6 0.5 0.6 0.6 0.8 1.0 0.8 0.8pCZ1.2 1.3 1.3 1.6 1.8 1.9 2.0 1.9 1.7p1.8pDK2.8 3.1 2.9 2.9 3.0 3.0 2.9 3.0p2.9e:DE2.6 2.7 2.7 2.8 2.9 2.8 2.9 2.9 2.9e3.0eEE1.3 1.4 1.6 2.3 2.1 1.7 1.5 1.5 1.3 :IE1.4 1.6e1.6e1.6e1.6e1.6e1.5e1.2 1.2e1.1 EL0.7be0.6e0.6e0.7 0.7 0.8 0.8 1.0 1.0 1.1pES1.3 1.4 1.4 1.3 1.3 1.3 1.2 1.2 1.2 :FR2.1 2.2 2.2b2.2 2.2 2.2 2.2 2.3p2.3p:HR0.9 0.8 0.7 0.8 0.8 0.8 0.8 0.8 0.9b:IT1.2 1.2 1.2 1.2 1.3 1.3 1.3e1.3 1.3p:CY0.4 0.4 0.5 0.5 0.4 0.5 0.5 0.5 0.5p:LV0.6 0.5 0.6 0.7 0.7 0.6 0.7 0.6 0.4 0.5pLT0.8 0.8 0.8 0.9 0.9 1.0 1.0 1.0 0.9 0.9 LU1.6 1.7 1.5 1.5 1.3b1.3 1.3 1.3 1.2p:HU1.0 1.1 1.1 1.2 1.3 1.4 1.4 1.4 1.2 1.4 MT0.5 0.5 0.6 0.7 0.8 0.8 0.7 0.8 0.6p0.6 NL1.6 1.7 1.7 1.9b1.9b2.0 2.0 2.0 2.0p:AT2.6e2.6 2.7e2.7 2.9e3.0 3.1e3.1 3.1p3.2pPL0.6 0.7 0.7 0.8 0.9 0.9 0.9 1.0 1.0p1.0 PT1.5b1.6 1.5 1.5 1.4 1.3 1.3 1.2 1.3p1.3pRO0.6 0.5 0.5 0.5b0.5 0.4 0.4 0.5 0.5 :SI1.6b1.8 2.1 2.4b2.6 2.6 2.4 2.2 2.0p:SK0.5 0.5 0.6 0.7 0.8 0.8 0.9 1.2 0.8 0.9 FI3.6 3.8 3.7 3.6 3.4 3.3 3.2 2.9 2.8 2.8 SE3.5e3.5 3.2e3.3 3.3e3.3e3.2e3.3 3.3p3.3 UK1.6e1.7e1.7e1.7b1.6e1.7 1.7e1.7 1.7p1.7pResearchandexperimentaldevelopment(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 2017 preliminary data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.27: Current plus capital account - Net lending-borrowing (% of GDP)  

71 

2008200920102011201220132014201520162017BE-1.5 -1.3 1.5 -1.2 0.5 -0.4 -1.1 -1.0 -0.5 0.8 BG-21.2 -7.0 -0.9 1.5 0.4 2.4 3.5 3.1 4.8 7.7 CZ-1.2 -1.0 -2.6 -1.8 -0.3 1.5 0.9 2.5 2.7 2.0 DK2.9 3.4 6.6 6.9 6.3 7.7 8.7 7.9 8.1 8.1 DE5.6 5.7 5.7 6.1 7.0 6.7 7.6 8.9 8.6 7.9 EE-7.5 6.0 5.3 5.4 1.4 3.1 1.9 3.9 3.0 4.2 IE-6.8 -5.6 -1.9 -2.2 -2.6 1.0 -2.4 3.9 -5.7 -1.1 EL-13.4 -11.5 -10.5 -8.7 -2.6 -0.4 -0.2 0.9 -0.7 -0.5 ES-8.8 -4.0 -3.5 -2.8 0.3 2.2 1.6 1.8 2.5 2.1 FR-0.7 -0.5 -0.6 -0.9 -1.1 -0.5 -1.0 -0.4 -0.7 -0.5 HR-9.0 -5.1 -1.1 -0.7 -0.1 1.0 2.3 5.1 3.9 4.5 IT-2.8 -1.9 -3.4 -2.9 -0.1 0.9 2.1 1.7 2.3 2.7 CY-15.3 -7.3 -11.0 -3.7 -5.8 -3.5 -3.5 -1.2 -4.9 -7.9 LV-11.0 10.2 4.0 -1.1 -0.6 -0.2 1.5 2.3 2.6 1.5 LT-11.7 5.7 2.5 -1.3 1.5 4.0 5.8 0.7 0.7 2.1 LU6.9 6.1 6.2 5.6 4.7 4.2 3.8 4.5 4.7 4.5 HU-5.8 0.9 2.1 3.1 4.3 7.3 5.2 7.3 6.1 4.2 MT-0.7 -5.4 -2.7 1.0 3.6 4.4 10.5 6.2 7.4 14.3 NL4.9 5.5 6.5 8.7 8.9 9.9 8.4 5.8 7.9 10.4 AT4.4 2.6 2.9 1.5 1.3 1.8 2.4 1.2 2.4 1.9 PL-5.6 -2.3 -3.6 -3.2 -1.5 1.0 0.4 1.8 0.5 1.4 PT-10.9 -9.3 -8.8 -4.5 0.3 3.2 1.4 1.3 1.6 1.4 RO-11.1 -4.2 -4.9 -4.4 -3.4 1.0 2.0 1.2 0.4 -2.0 SI-5.4 -0.5 0.0 0.0 2.3 4.8 6.0 5.6 4.8 6.4 SK-5.3 -2.7 -3.2 -3.7 2.9 3.3 2.1 1.8 -0.2 -1.1 FI2.2 1.7 1.2 -1.6 -2.2 -2.1 -1.7 -0.7 -0.7 -0.6 SE7.7 5.9 5.8 5.3 5.4 5.0 4.4 4.3 4.2 3.2 UK-4.6 -3.9 -3.8 -2.4 -4.3 -5.2 -5.0 -5.0 -5.3 -3.8 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 international investment position excluding non-defaultable instruments (% of GDP)  

72 

2008200920102011201220132014201520162017BE54.7 61.5 70.0 67.7 65.2 62.0 52.1 52.5 52.3 45.0 BG-10.6 -8.0 -8.6 -1.9 4.3 7.4 10.9 20.7 29.3 33.1 CZ10.0 8.6 7.5 7.8 9.3 14.9 19.1 20.7 28.2 28.8 DK-28.0 -28.6 -21.3 -12.0 -2.7 -3.6 11.4 10.7 15.7 18.6 DE15.3 20.9 20.7 15.5 22.0 29.4 31.6 34.4 37.5 41.5 EE-35.1 -32.1 -18.3 -2.0 3.2 7.3 12.8 16.7 18.7 21.5 IE-173.9 -217.2 -237.3 -238.8 -256.6 -309.8 -351.3 -243.6 -246.4 -259.1 EL-73.0 -83.7 -99.9 -97.4 -122.3 -129.8 -128.6 -127.8 -127.2 -126.4 ES-64.1 -72.9 -73.8 -78.3 -75.2 -71.1 -71.4 -66.1 -62.4 -58.1 FR-20.3 -24.2 -24.5 -23.1 -27.0 -26.9 -31.0 -29.7 -31.4 -33.5 HR-39.7 -46.7 -49.9 -51.9 -49.5 -48.6 -43.7 -36.2 -25.5 -17.3 IT-21.8 -20.9 -22.4 -22.4 -23.8 -23.3 -21.1 -17.4 -10.1 -3.9 CY-44.4 -53.1 -111.5 -110.0 -102.3 -110.7 -107.9 -136.0 -110.8 -95.1 LV-44.8 -44.9 -43.6 -31.1 -24.8 -20.9 -17.9 -12.9 -9.8 -7.6 LT-28.1 -30.2 -25.3 -22.2 -23.0 -17.3 -16.3 -14.0 -13.6 -7.9 LU-1091.5 -1591.8 -1850.5 -1942.7 -2442.4 -2674.5 -3325.7 -3828.3 -3775.9 -3947.3 HU-52.6 -52.0 -49.9 -48.1 -42.5 -35.3 -30.1 -18.6 -11.9 -8.1 MT58.5 93.6 224.6 218.1 268.0 225.1 212.5 204.3 208.7 229.6 NL-68.6 -74.9 -78.9 -74.1 -69.6 -66.9 -45.8 -51.6 -44.4 -29.5 AT-11.0 -4.8 -10.3 -14.2 -16.0 -11.7 -11.3 -11.3 -9.6 -4.1 PL-20.9 -22.4 -24.5 -25.6 -26.4 -27.1 -26.2 -26.0 -22.9 -20.7 PT-62.8 -69.9 -65.9 -69.6 -79.4 -76.0 -77.9 -73.2 -66.5 -60.9 RO-16.8 -21.3 -23.1 -25.1 -25.0 -20.4 -16.0 -13.0 -6.7 -5.8 SI-34.5 -41.8 -45.3 -39.8 -42.5 -39.2 -35.1 -26.8 -22.1 -17.7 SK-6.0 -12.0 -11.0 -12.5 -8.9 -10.5 -13.0 -14.1 -14.8 -15.1 FI8.2 4.7 9.0 4.1 -1.2 -3.7 0.2 12.4 12.2 6.1 SE-30.1 -24.9 -17.1 -18.9 -20.8 -24.6 -21.7 -13.9 -12.2 -7.0 UK-24.6 -35.8 -26.2 -22.3 -24.2 -12.5 -14.9 -10.8 1.1 -5.3 TheindicatorisasubsetoftheNetinternationalinvestmentposition(NIIP)thatabstractsfromitspureequity-relatedcomponents,i.e.foreigndirectinvestment(FDI)equityandequityshares,andfromintra-companycross-borderFDIdebt,andrepresentstheNIIPexcludinginstrumentsthatcannotbesubjecttodefault.TheindicatorisbasedonannualfiguresfromtheEurostatBalanceofPaymentsandisdefinedastheNIIPminusnetdirectinvestment minus net portfolio equity. It is calculated as a % of GDP and expressed in national currency.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.29: Foreign direct investment in the reporting economy - flows (% of GDP)   

73 

2008200920102011201220132014201520162017BE38.4 17.0 22.9 30.3 1.3 -5.4 -4.4 -5.4 9.6 -7.8 BG17.9 7.5 3.6 3.7 3.3 3.6 1.9 5.2 2.9 3.8 CZ3.7 2.5 4.9 1.9 4.5 3.5 3.9 0.9 5.6 4.3 DK0.5 1.2 -3.6 3.8 -4.9 0.2 2.0 0.6 2.5 0.6 DE0.8 1.6 2.5 2.6 1.8 1.8 0.5 1.6 1.6 2.1 EE8.0 9.1 13.2 4.9 7.8 4.4 6.6 -3.2 3.9 5.9 IE7.9 22.8 16.8 15.2 25.0 29.6 38.3 82.1 34.4 0.3 EL1.4 0.8 0.2 0.4 0.7 1.2 1.1 0.7 1.4 1.8 ES4.8 0.9 2.8 2.2 1.8 3.8 2.4 2.1 3.2 0.6 FR2.3 0.7 1.5 1.5 1.2 1.1 0.2 1.8 1.8 1.9 HR7.6 5.0 2.3 2.3 2.6 1.7 5.3 0.4 3.8 3.6 IT-0.5 0.9 0.4 1.5 0.0 0.9 0.8 0.7 1.1 0.5 CY8.7 10.8 53.3 -43.5 30.5 -25.0 -2.2 41.3 40.2 50.0 LV3.7 -0.2 1.9 5.3 3.8 3.3 3.0 2.9 0.9 3.8 LT4.0 0.1 2.3 3.5 1.4 1.5 1.1 2.3 2.2 2.4 LU182.4 410.6 423.7 679.9 981.1 1020.5 268.0 1336.6 329.2 -264.1 HU47.6 -2.6 -16.0 9.9 8.1 -2.8 9.5 -4.6 55.9 -9.3 MT164.7 16.8 106.3 82.0 36.1 5.7 2.8 27.9 22.1 27.3 NL17.5 10.9 14.5 37.1 29.4 37.5 13.0 23.5 20.5 39.4 AT1.5 3.4 -5.4 5.4 1.3 0.1 0.4 -2.1 -7.5 3.7 PL2.7 3.2 3.7 3.4 1.5 0.2 3.6 3.2 3.9 2.0 PT3.0 2.3 3.5 4.0 10.1 4.7 5.7 1.3 4.6 4.6 RO6.3 2.7 2.0 1.3 1.8 2.0 1.9 2.4 3.3 2.8 SI2.0 -0.7 0.6 1.7 0.1 0.2 2.0 4.0 3.2 2.2 SK4.9 1.9 2.3 5.6 1.9 1.0 -0.4 1.7 5.3 6.3 FI7.0 -3.3 4.9 -2.2 1.9 -1.9 6.3 7.2 2.0 5.8 SE8.3 2.1 0.2 1.1 0.8 0.3 -1.7 1.8 1.4 5.8 UK9.1 0.4 2.7 1.0 1.8 2.0 2.0 1.6 10.1 2.5 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)  

74 

2008200920102011201220132014201520162017BE192.0 208.2 223.2 236.2 236.2 220.3 228.5 228.8 221.1 199.9 BG87.5 94.4 90.3 87.8 90.1 89.3 93.4 93.6 90.6 88.4 CZ60.3 66.2 70.1 69.6 74.7 77.4 77.3 75.8 78.4 78.3 DK44.6 46.8 43.5 43.9 43.6 41.8 49.8 50.1 56.3 54.3 DE31.9 34.2 35.1 35.8 39.8 41.0 41.2 41.9 42.0 42.1 EE77.1 89.1 95.0 89.9 94.2 98.8 103.7 97.9 98.8 95.5 IE209.0 267.4 294.0 305.8 337.7 347.3 387.5 498.3 511.9 435.6 EL12.0 13.8 13.8 12.2 11.5 12.0 11.8 14.8 15.8 17.6 ES45.1 49.0 50.5 51.6 53.3 56.4 58.8 58.8 60.2 58.6 FR34.2 37.0 38.1 40.2 40.5 41.3 42.1 43.9 45.5 46.5 HR42.2 50.8 53.9 49.7 51.7 50.4 56.0 54.3 57.2 58.7 IT18.8 22.1 20.3 21.5 23.2 23.8 25.1 25.6 26.0 26.1 CY701.6 711.8 773.4 700.1 866.4 863.8 849.3 1049.7 1069.2 1017.8 LV36.0 46.3 49.7 50.1 49.7 54.1 56.5 59.8 58.0 59.0 LT29.9 37.0 38.6 37.9 38.2 38.7 38.5 39.8 41.1 40.9 LU2968.2 3505.4 3640.8 4666.0 5989.7 6471.4 7931.5 9411.7 9479.1 8263.3 HU218.0 226.9 214.3 236.3 227.1 211.4 217.3 222.5 260.5 211.0 MT1636.5 1698.3 1859.2 2023.8 2051.0 1973.2 1849.6 1724.9 1696.3 1627.0 NL399.8 417.1 431.3 472.5 503.2 534.5 558.1 593.1 604.0 615.5 AT72.7 81.1 74.8 72.8 74.7 75.2 77.8 75.4 65.1 66.7 PL39.7 40.4 48.4 47.3 47.7 50.1 51.5 48.1 50.7 49.7 PT47.6 53.6 56.4 54.7 66.7 69.5 74.0 74.0 77.0 79.6 RO35.0 39.4 41.7 41.6 43.2 43.1 41.9 42.6 44.4 44.5 SI25.0 26.1 27.0 28.7 29.8 29.1 31.5 34.4 37.2 37.3 SK60.5 64.3 62.5 65.8 64.7 64.8 62.1 63.3 70.8 72.4 FI50.9 50.7 54.7 50.6 52.0 46.8 52.4 57.8 54.1 55.0 SE91.4 100.8 92.8 91.7 91.4 90.7 84.5 83.9 82.2 4.2 UK59.8 57.3 59.7 60.4 73.8 71.8 71.8 71.4 78.8 76.5 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) 

75 

2008200920102011201220132014201520162017BE-5.3 -3.2 -3.7 -4.6 -5.0 -4.5 -3.8 -2.7 -2.2 -2.5 BG-8.0 -5.0 -5.7 -6.3 -6.9 -6.2 -5.6 -3.8 -2.4 -4.2 CZ-4.1 -2.7 -3.5 -4.4 -4.7 -4.8 -4.0 -2.4 -2.1 -2.6 DK1.6 1.0 0.9 0.7 0.8 0.3 0.0 0.0 0.0 -0.1 DE-3.4 -2.5 -2.9 -3.5 -3.6 -3.4 -2.8 -2.0 -1.5 -1.8 EE-4.1 -2.3 -1.5 -0.4 -1.3 -2.2 -2.1 -1.5 -1.0 -0.6 IE-3.1 -2.3 -2.8 -3.3 -3.0 -3.2 -2.7 -1.5 -1.1 -1.2 EL-3.8 -2.2 -3.0 -3.6p-4.0p-3.7p-3.4p-2.1p-1.6p-1.8pES-3.6 -2.3 -2.9 -3.7 -3.8 -3.4 -2.9 -2.0 -1.5p-1.8pFR-2.8 -2.0 -2.4 -3.0 -3.3 -3.1 -2.5 -1.8 -1.4p-1.7pHR-5.1 -3.5 -3.8 -5.4 -5.6 -5.1 -4.0 -3.4 -2.7 -2.9 IT-3.6 -2.6 -3.2 -3.7 -3.8 -3.3 -2.6 -2.0 -1.6 -1.9 CY-6.4 -4.6 -6.0 -6.8 -7.5 -6.3 -5.9 -4.1 -3.4p-4.2pLV-5.5 -4.4 -4.9 -5.5 -6.1 -5.6 -4.2 -3.2 -2.3 -3.0 LT-5.7 -4.1 -7.1 -7.6 -7.5 -6.1 -4.7 -3.6 -2.6 -3.0 LU-6.6 -4.1 -4.8 -5.9 -6.3 -5.4 -4.4 -3.1 -2.5 -2.8 HU-6.2 -4.9 -5.1 -6.0 -6.3 -6.3 -6.2 -4.2 -3.2 -3.8 MT-2.3 -0.1 1.1 -2.8 -12.2 -9.0 -14.9 -8.9 -8.8 -8.9 NL-0.7 -0.7 -1.5 -1.9 -2.6 -1.4 -1.6 -1.1 -0.6 -0.8pAT-3.5 -2.4 -2.9 -3.7 -3.9 -3.5 -3.0 -2.3 -1.9 -2.1 PL-3.0 -2.2 -2.6 -3.3 -3.4 -2.7 -2.6 -1.6 -1.4 -2.0 PT-4.6 -2.8 -3.4 -4.2 -4.7 -3.7 -3.6 -2.3 -1.6 -2.1pRO-2.8 -1.5 -2.2 -2.7 -3.0 -1.9 -1.4 -0.9 -0.9 -1.3pSI-6.2 -3.9 -5.0 -6.2 -6.7 -5.5 -4.1 -3.1 -2.1 -2.6 SK-5.9 -4.4 -5.7 -6.4 -5.9 -5.9 -4.3 -3.5 -2.7 -3.5 FI-3.3 -2.4 -2.8 -3.7 -2.6 -2.6 -2.4 -1.8 -1.4 -1.6 SE-1.9 -1.2 -1.6 -1.8 -1.7 -1.5 -1.3 -0.9 -0.8 -0.9 UK-0.6 -0.4 -0.4 -1.0 -1.2 -1.1 -0.8 -0.6 -0.5 -0.6 Thetradebalanceofenergyproductsiscalculated,foreachMemberState,asthedifferencebetweenexportstoandimportsfromtherestoftheworld(intra-EUandextra-EUtrade)ofgoodsincludedintheSITCsection3-Mineral fuels, lubricants and related materials.The data source from International trade statistic and is expressed as percentage of GDP (according to ESA 2010 transmission programme).Flags: 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) 

76 

2008200920102011201220132014201520162017BE1.2 0.6 1.9 1.3 1.9 0.6 -0.1 0.2 2.1 2.8 BG19.5 16.0 11.7 3.9 1.9 -0.4 -3.0 -4.0 -4.6 -3.0 CZ22.7 10.4 12.7 0.8 5.6 -2.4 -10.1 -7.9 -3.6 5.8 DK-0.7 0.4 1.7 1.5 0.7 -1.3 -1.4 -1.3 -0.2 -0.5 DE-1.3 -1.1 -1.5 -1.0 -1.3 -0.8 -0.1 0.5 0.4 0.3 EE12.1 8.9 6.4 2.8 5.2 5.4 3.1 1.6 0.4 2.5 IE1.1 -1.6 -5.3 -6.6 -5.1 -3.1 -1.8 -1.4 -0.9 -2.1 EL2.8 2.5 5.0 4.5 2.0 -3.5 -5.6 -5.2 -3.2 -1.7 ES3.1 1.1 0.9 0.4 0.8 0.4 -0.6 -1.3 -2.2 -1.0 FR-1.3 -1.2 -0.2 -0.4 -0.5 -1.3 -0.7 -0.4 0.2 -0.5 HR6.3 4.1 4.3 -2.2 -2.6 -2.9 -1.4 -1.1 -1.0 0.7 IT0.0 0.4 0.7 0.9 1.4 1.0 0.4 -0.5 -0.7 -0.6 CY-0.8 -1.3 0.4 0.7 2.0 1.0 -0.1 -2.4 -3.3 -3.7 LV21.5 18.9 8.3 0.3 -0.7 0.2 -1.3 -2.0 -0.1 0.9 LT10.4 12.9 9.9 4.7 1.7 1.4 -0.1 -1.4 -0.7 1.5 LU2.1 0.9 1.7 2.0 2.8 1.7 0.8 0.3 -0.2 0.1 HU8.4 5.2 0.0 -2.5 4.6 -3.0 -7.0 -7.1 -5.1 0.7 MT0.6 1.5 3.5 1.8 1.1 0.1 0.7 1.0 2.0 1.4 NL-2.3 -1.1 -1.0 -0.1 -0.3 1.4 1.3 1.0 -0.4 -0.5 AT-0.7 -0.3 0.1 1.2 1.3 1.6 1.6 2.3 2.4 2.1 PL14.1 -6.2 -0.1 -9.5 7.3 -3.3 -1.5 -1.9 -5.5 -3.0 PT0.0 -1.7 -2.1 -0.5 0.9 0.1 -1.2 -1.0 0.5 0.9 RO9.8 -6.3 -9.2 -1.6 3.2 0.7 -1.3 2.4 -2.6 -5.0 SI4.0 3.9 3.1 0.3 0.2 0.0 0.5 -0.7 -1.6 -1.4 SK26.8 24.8 12.7 4.9 1.9 2.5 0.5 -1.2 -2.0 -1.5 FI-1.3 0.8 1.9 2.1 1.6 1.9 2.0 1.1 0.5 -1.0 SE-4.8 -12.2 -1.2 7.4 19.3 5.9 -3.8 -7.7 -7.7 -3.9 UK-13.8 -21.7 -16.8 -2.7 14.5 4.2 10.3 14.0 4.9 -6.7 Realeffectiveexchangerate(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) 

77 

2008200920102011201220132014201520162017BE-0.9 -1.3 -4.2 0.8 -5.4 -6.8 -7.6 -10.9 -5.0 -0.8 BG50.9 29.2 16.8 21.3 10.9 7.0 12.7 13.1 5.1 14.0 CZ70.3 37.9 20.9 17.3 7.0 -3.3 0.1 -1.1 -0.0 3.3 DK6.8 7.2 -3.3 -5.9 -7.9 -11.9 -10.2 -7.5 -6.9 -4.0 DE6.3 1.2 -0.2 -0.8 -6.6 -6.1 -2.8 -1.5 -0.3 1.7 EE52.4 26.1 18.3 35.7 19.6 17.6 28.6 8.6 -3.5 -2.0 IE-7.3 10.5 1.4 -2.0 -6.2 -4.2 -8.9 39.4 55.3 57.0 EL16.7 -2.8 -7.2 -8.1 -16.3 -20.4 -13.0 -20.1 -21.2 -14.1 ES-4.6 -1.3 -4.4 -0.2 -8.4 -4.8 -6.4 -3.0 -0.7 4.8 FR-9.3 -6.3 -10.4 -7.7 -8.5 -8.1 -8.8 -2.6 -6.0 -1.9 HR4.9 2.8 -6.0 -8.4 -15.0 -17.8 -14.9 -5.1 5.0 14.6 IT-6.4 -10.9 -12.4 -11.9 -16.7 -14.5 -9.6 -8.3 -5.5 -2.6 CY-16.9e-1.5e-9.0e-3.5e-12.8e-9.2 -19.0 -11.3 -5.7 2.1 LV96.7 65.5 31.6 38.2 20.8 13.5 18.5 13.7 6.2 2.9 LT59.2e41.9 28.7 41.4 48.2 27.9 42.6 16.2 2.4 4.8 LU28.8 21.3 11.7 5.0 0.6 15.1 22.6 30.2 22.7 19.5 HU39.4 22.4 11.8 6.6 -11.9 -17.3 -11.1 -8.2 -3.2 6.3 MT23.4 58.1 49.1 28.4 25.6 6.5 -6.6 -1.2 6.3 6.2 NL4.5 2.6 -0.6 0.1 -2.4 -5.0 -5.4 -5.7 -2.7 -3.3 AT6.3 1.9 -5.5 -4.5 -12.3 -12.6 -10.1 -8.1 -6.7 -2.3 PL68.4e45.8 34.9 25.7 13.6 6.9 11.7 10.4 14.8 22.7 PT-1.1 -0.3 0.7 -0.2 -6.7 -0.8 0.2 2.8 2.8 9.5 RO113.6 83.7 65.9 63.7 25.8 21.9 28.2 21.8 20.1 30.9 SI29.5 18.8 6.4 2.8 -11.5 -12.5 -7.1 -3.3 1.1 13.3 SK46.8e18.8 12.4 6.2 0.5 2.8 8.8 5.3 4.4 1.9 FI6.4 -6.0 -13.1 -16.5 -23.5 -26.5 -21.4 -20.6 -16.7 -8.6 SE3.7 -8.8 -5.6 -4.1 -9.9 -11.3 -3.5 -8.3 -10.5 -8.6 UK-13.7 -12.8 -17.4 -18.9 -11.5 -5.6 -3.5 3.1 -2.0 -5.4       (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 is calculated the 5 year % change (comparing year Y with year Y-5).Flags: e: Estimated.  
 
 
 
 
 
Table 3.34: Terms of trade (5 year % change) 

78 

2008200920102011201220132014201520162017BE-4.7 -0.8 -1.7 -2.2 -2.5 0.4 -2.4 0.0 1.8 1.0 BG13.0 12.0 14.0 11.5 5.9 4.2 3.0 3.5 3.0 5.7 CZ-3.3 -2.4 -2.1 -1.7 -3.3 -0.9 -1.4 0.9 3.6 3.1 DK3.3 2.7 3.3 2.0 3.1 2.4 3.7 1.1 2.3 2.9 DE-4.6 -0.4 -1.0 -2.1 -2.5 0.3 -2.8 2.1 6.8 5.9 EE7.4 7.0 3.0 1.0 -1.4 -0.8 0.3 2.9 2.8 4.2 IE-3.2 0.8 -4.2 -1.4 -3.6 -4.7 -5.3 2.5 0.1 -0.1 EL-1.7 -2.3 -1.0 -1.5p-3.5p-0.8p1.5p6.0p6.1p7.4pES-1.2 4.3 1.0 -2.9 -5.4 -2.0 -7.5 -4.4 -0.3p0.8pFR-3.3 0.2 0.2 -0.7 -2.1 -0.4 -1.7 2.8 6.1p5.0pHR6.7 5.2 5.6 4.4 2.6 1.3 0.6 0.5 1.7 2.5 IT-8.0 -1.3 -2.1 -1.7 -4.2 -0.6 -4.1 2.3 7.9 7.6 CY-3.4 -4.0 -1.3 -0.7 -0.6 -0.6 -1.2 -0.8 0.4p0.9pLV3.9 1.5 2.6 6.3 -1.3 1.0 -0.4 0.0 -0.2 3.4 LT11.5 -1.3 -2.2 -0.2 -1.9 -5.6 -0.9 1.5 4.6 5.9 LU1.8 3.6 4.6 3.0 4.2 2.8 2.0 -0.1 0.3 -0.1 HU-4.0 -2.6 -0.8 -0.9 -2.2 -0.3 -0.8 -0.2 2.4 3.3 MT0.0 1.0 1.6 1.2 0.2 1.0 2.0 1.0 1.5 2.7 NL-0.5 0.9 -1.2 -2.9 -2.6 -2.0 -3.0 -0.1 2.0 1.7pAT-4.0 -1.7 -2.5 -3.1 -3.2 -1.9 -2.7 -0.1 2.4 1.9 PL4.5 4.5 1.7 0.3 -2.6 -0.1 -1.4 2.5 4.6 6.1 PT-2.9 2.3 2.1 -0.5 -0.5 3.7 0.1 4.7 8.6 7.3pRO28.3 24.2 21.2 16.6 4.8 2.9 3.8 6.0 3.9 3.6pSI-4.1 0.4 -1.6 -2.4 -4.3 -2.3 -4.6 0.7 3.0 3.6 SK-4.5 -5.3 -5.7 -5.6 -5.7 -4.6 -3.5 -3.2 -2.2 -1.6 FI-10.2 -7.1 -5.8 -4.3 -5.2 -2.7 -2.7 2.8 4.7 5.5 SE-2.4 -0.2 1.2 0.6 -0.7 0.0 -0.8 0.6 1.9 1.2 UK-4.2 -3.0 -1.5 -2.3 -0.4 3.2 2.7 2.6 6.2 5.3 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) 

79 

2008200920102011201220132014201520162017BE-1.3 0.6 -2.4 -0.4 -2.8 -2.9 1.5 0.6 5.4 -0.3 BG-0.5 -1.7 -1.7 5.5 -1.1 5.8 -0.6 2.8 5.9 0.5 CZ1.2 0.2 2.0 2.1 1.2 -3.6 5.0 3.1 2.1 1.4 DK0.9 0.8 -9.8 0.1 -1.9 -2.2 -0.6 -0.7 0.6 -0.9 DE-1.1 -4.3 1.8 1.2 -0.3 -2.1 1.0 2.4 0.1 -0.7 EE-2.1 -10.3 11.3 17.1 1.7 -1.0 -0.9 -4.4 3.0 -1.8 IE-6.8 14.6 -6.7 -3.9 -4.0 -0.9 10.9 36.4 2.2 2.5 EL0.5 -8.5 -7.8 -7.1p-1.9p-2.3p4.0p0.2p-4.0p1.5pES-3.8 -1.0 -3.3 0.3 -2.0 0.5 0.6 1.3 3.0p-0.1pFR-2.6 -0.9 -4.0 -0.7 -0.3 -1.7 -0.4 1.7 -0.7p-0.8pHR-2.2 -4.1 -6.5 -4.9 -3.2 -0.7 2.3 6.5 3.4 1.1 IT-6.1 -8.1 -0.9 -1.9 -0.8 -3.1 -1.0 1.5 -0.1 0.4 CY-3.6 5.3 -8.2 -1.4 -5.8 -1.7 0.6 2.3 2.4p0.7pLV-0.6 -2.9 0.7 4.9 6.7 -2.7 2.3 0.2 2.2 0.9 LT10.5 -2.8 6.2 8.3 9.3 6.1 -0.4 -2.1 1.8 8.3 LU2.5 -1.6 -2.3 -3.1 -0.3 1.5 12.7 2.4 1.6 -7.2 HU3.9 -1.4 -1.4 -0.6 -4.9 0.4 5.4 4.3 2.9 -0.6 MT16.4 9.6 -5.8 -5.6 3.9 -2.9 -0.4 0.8 2.0 -1.5 NL-1.4 1.4 -3.0 -1.9 0.2 -1.3 0.8 4.5 -0.5 0.0pAT-0.8 -4.4 0.4 -1.2 -1.7 -3.2 -0.8 0.6 0.5 -0.6 PL4.1 4.1 0.4 0.8 1.5 2.3 3.0 4.8 6.6 4.2 PT-3.3 -0.2 -3.2 -0.1 0.3 3.2 0.6 3.2 2.2 2.5pRO-4.8 5.2 2.4 5.0 -2.0 16.4 4.3 1.7 13.8 4.4pSI1.2 -6.6 -2.5 -0.2 -2.5 -0.7 2.0 2.1 4.2 5.4 SK0.0 -6.8 3.0 4.9 6.2 2.9 0.2 3.1 3.3 0.6 FI3.6 -10.1 -6.5 -5.1 -1.9 -2.7 -6.4 -2.1 1.8 2.2 SE-1.0 -4.5 -0.8 -1.0 -2.1 -4.6 1.6 2.8 0.8 -2.1 UK-2.6 1.7 -7.0 -0.7 -1.7 -2.3 -1.4 1.5 -1.2 0.4 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) 

80 

2008200920102011201220132014201520162017BE-1.0 -2.1 2.1 0.4 -0.2 0.5 0.8 0.8 0.2 0.3 BG3.6 -1.9 5.4 4.2 2.6p0.9p1.5p3.1p3.4p2.0pCZ0.5 -3.1 3.3 2.1 -1.2 -0.8 2.2 3.8 0.8 2.7 DK-1.7 -1.8 4.3 1.4 1.0 1.0 0.7 0.2 0.4 0.7 DE-0.2 -5.7 3.8 2.3 -0.7 -0.1 1.3 0.8 0.9 0.7 EE-5.2 -5.0 7.6 1.0 2.6 0.7 2.1 -0.9 3.2 2.1 IE-3.8 3.1 6.7 5.8b0.7 -1.6 6.0 20.9 1.2 4.2 EL-1.6 -3.8 -3.0 -2.4p-1.1p-0.6p-0.2p-1.2p-0.7p0.0pES0.9 2.9 1.8 1.7 1.1 0.9 0.4 0.8 0.6p0.4pFR-0.3 -1.8 1.8 1.4 0.0 0.4 0.4 0.9 0.5p1.1pHR-0.1d-6.6d2.4d3.7d1.4d2.2d-2.7d1.1d3.2d0.7dIT-1.3 -3.9 2.3 0.3 -2.5 0.1 0.0 0.3 -0.2 0.4 CY0.1 -2.0 0.9 0.4 0.3 0.1 0.5 0.5 0.2p0.4pLV-2.7 -0.1 2.9 4.8 2.5 0.1 3.3 1.5 2.4 4.7 LT4.0 -7.7 7.3 5.5 2.0 2.1 1.5 0.7 0.4 4.7 LU-5.8 -5.4 3.0 -0.4 -2.7 1.8 1.7 1.3 -0.6 -1.8 HU2.9 -4.2 1.8 1.7 -1.8 1.0 -0.6 1.1 -0.7 2.1 MT0.8 -2.5 1.8 -1.6 0.2 0.8 2.9 5.4 1.0 1.4 NL0.5 -2.8 2.0 0.7 -0.8 1.1 1.5 1.0 1.1p0.7pAT-0.4 -3.3 1.1 1.3 -0.4 -0.3 -0.3 0.5 0.7 0.8 PL0.4 2.4 6.4b4.4 1.5 1.5 1.6 2.3 2.5p3.4pPT-0.2 -0.3 3.4 0.1 0.1 1.8 -0.5 0.4 0.3 -0.5pRO8.2 -4.0 -2.5 2.8 7.2b4.4 2.6 5.2 6.0 4.3pSI0.7 -6.1 3.4 2.4 -1.8 0.0 2.5 1.0 1.2 1.9 SK2.3 -3.5 6.7 1.0 1.6 2.3 1.3 2.2 0.7 1.0 FI-1.5 -6.0 3.7 1.3 -2.3 0.0 -0.2 0.3 2.0 1.6 SE-1.4 -2.8 5.0 0.5 -1.0 0.3 1.2 2.9 0.8 -0.2 UK-1.2 -2.7 1.5 1.1 0.4 0.9 0.6 0.6 0.4 0.7 ThelabourproductivityistheratioofGrossdomesticproduct(marketpricesinmillions,chain-linkedvolumesreferenceyear2010)tothetotalEmployment(domesticconcept).The'personsemployed'doesnotdistinguishbetweenfull-timeandpart-timeemployment.TheGDPperpersonemployedisintendedtogiveanoverallimpressionoftheproductivityofnationaleconomiesexpressedinrelationtotheEuropeanUnion(EU28)average.Theinput data are obtained through official national accounts' country data in the ESA 2010 transmission programme. The MIP indicator is expressed as percentage change comparing year Y with year Y-1. Flags: b: Break in series. d: Definition differs. 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: Gross non-performing loans, domestic and foreign entities (% of gross loans) 

81 

2008200920102011201220132014201520162017BE::::::4.3e3.8e3.2e2.7pBG::::::16.0e14.5e12.8e10.2pCZ::::::::4.0e2.8pDK::::::5.1e3.9e3.3e2.5pDE::::::3.9e3.0e2.6e1.8pEE::::::3.2e2.2e1.7e1.9pIE::::::21.6e14.9e13.1e9.9pEL::::::39.7e46.8e46.3e45.0pES::::::8.1e6.3e5.7e4.4pFR::::::4.2e4.0e3.6e3.1pHR::::::13.6e13.0e10.7e8.8pIT::::::16.5e16.5e15.0e11.2pCY::::::38.6e36.3e35.4e30.7pLV::::::9.7e6.5e6.3e5.6pLT::::::6.8e5.6e4.0e3.2pLU::::::1.4e1.1e0.8e0.7pHU::::::19.4e15.2e11.9e8.4pMT::::::6.0e5.1e4.1e3.1pNL::::::3.4e2.7e2.4e2.1pAT::::::7.5e6.5e5.1e3.5pPL::::::7.2e6.6e6.4e6.6pPT::::::16.6e17.5e17.2e13.3pRO::::::20.7e13.4e9.7e6.6pSI::::::22.8e17.9e12.3e9.2pSK::::::5.2e4.4e4.6e3.7pFI::::::1.6e1.5e1.4e1.2pSE::::::1.3e1.3e1.2e1.3pUK::::::3.3e:1.9e1.5pAloan,otherthanheldfortrading,isconsideredasnon-performingifsatisfieseitherorbothofthefollowingcriteria:(a)Itisamaterialloanwhichismorethan90dayspast-due;(b)Thedebtorisassessedasunlikelytopayitscreditobligationsinfullwithoutrealisationofcollateral,regardlessoftheexistenceofanypast-dueamountorofthenumberofdayspast-due.Non-performingloansincludedefaultedandimpairedloans.TheMIPindicatorisdefinedastotalgrossnon-performingloansandadvancesas%oftotalgrossloansandadvances(grosscarryingamount),forthereportingsector"domesticbankinggroupsandstand-alonebanks,foreigncontrolledsubsidiaries and foreign controlled branches, all institutions". Data on domestically controlled banks are consolidated across borders and sectors.  Data source: European Central Bank (ECB). Flags: e: Estimated. p: Provisional.       (cid:9)(cid:9)(cid:9)Source: European Central Bank 
 
 
 
 
 
Table 3.38: Unit labour cost performance relative to EA (10 year % change) 

82 

2008200920102011201220132014201520162017BE1.7 0.0 1.1 0.7 2.3 4.3 5.0 4.0 1.4 1.4 BG38.5 34.7 40.1 34.3 42.0 52.4 56.1 54.7 53.8 50.9 CZ14.8 10.7 11.0 7.1 2.9 0.9 -1.9 -2.0 0.0 1.0 DK11.5 10.6 11.8 8.4 5.6 4.8 5.3 5.2 3.9 -0.2 DE-18.7 -16.5 -16.2 -13.8 -10.8 -8.6 -5.7 -1.1 3.8 8.4 EE60.6 53.3 47.7 42.9 42.5 40.8 39.1 42.3 36.8 22.5 IE22.9 12.1 0.8 -5.8 -6.5 -9.5 -15.4 -32.1 -34.6 -39.2 EL20.9 20.8 22.6 20.1 8.1 -0.9 -4.2 -12.3 -11.9 -12.9 ES18.3 13.9 11.4 8.5 2.9 0.5 -2.7 -3.6 -7.5 -11.1 FR1.0 0.3 2.6 2.8 2.5 2.8 3.0 1.6 -0.1 -0.2 HR15.9 10.6 7.9 12.1 5.0 -0.7 -4.3 -7.1 -11.2 -15.0 IT11.3 11.4 13.7 12.7 10.3 6.6 3.8 3.4 1.7 -0.3 CY13.5 16.3 15.8 17.3 17.2 4.8 -0.4 -6.4 -8.6 -8.9 LV92.2 60.3 48.9 47.5 55.9 58.6 56.3 44.6 30.6 7.7 LT5.3 0.2 4.6 10.1 9.5 12.9 11.8 11.7 6.4 8.9 LU17.9 21.2 19.0 15.5 17.2 17.0 12.7 12.9 10.6 14.9 HU58.0 46.9 34.0 23.5 19.9 13.1 8.9 3.4 5.4 6.3 MT4.9 6.7 9.8 9.9 13.5 12.5 7.9 9.4 6.6 4.8 NL7.1 7.2 4.4 3.9 1.8 1.2 0.9 0.3 -0.1 -2.5 AT-5.0 -3.8 -1.6 -0.9 1.6 3.6 5.4 6.4 6.4 5.7 PL3.8 -3.8 -3.3 -7.5 -3.5 0.4 2.1 1.1 4.0 1.7 PT6.9 3.9 0.5 -3.7 -8.7 -9.0 -10.0 -11.9 -9.9 -8.2 RO466.2 296.9 169.7 75.3 81.7 51.9 53.6 22.8 21.9 32.8 SI36.1 35.9 29.4 18.7 12.6 9.1 3.8 3.1 3.0 1.1 SK24.6 22.5 12.4 11.3 7.4 4.7 2.1 0.0 -0.8 2.0 FI-1.6 2.0 2.3 3.3 7.4 9.6 10.3 9.9 7.8 5.4 SE5.1 5.8 0.8 -0.2 2.5 4.4 6.1 6.1 7.2 5.6 UK11.4 10.2 11.6 9.0 9.6 10.3 6.6 7.4 5.8 5.0       (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)   

83 

2008200920102011201220132014201520162017BE23.5 12.0 7.2 6.8 9.7 7.6 2.9 2.3p3.8p8.2 BG84.8p28.2p-10.6p-32.4p-16.7p-9.3 -2.7 2.0b11.6 19.5 CZ45.0e29.5e6.6e-5.5 -3.1 -1.4 0.9 6.5p14.2p24.4pDK20.8 -14.3 -14.2 -11.0 -1.7 -0.6 4.9 15.3 16.8 17.7 DE-1.2 0.0 3.3 5.5 8.2 10.4 10.0 11.4 14.5 16.0 EE63.2 -31.5 -40.0 -28.0 23.0 28.8 35.0 34.5 27.3 18.1 IE14.9 -19.1 -34.9p-42.0p-37.9p-27.3p2.1p31.5p39.6p32.8pEL22.0e3.7e-6.7e-13.2e-20.4e-25.5e-27.1e-21.6e-14.2e-8.3eES22.7e1.1 -9.6 -15.3 -22.7 -28.5 -22.3 -5.6 8.7 15.1 FR19.6 0.0 -0.9 4.0 10.3 3.2 -4.0 -4.9 -2.1 2.6 HR35.7e9.5e-8.4e-10.9 -7.6 -5.3 -6.9 -8.2 -3.6 1.7 IT13.9e7.2e2.9be1.6e-0.5e-7.6 -13.1 -14.3 -8.3p-4.6 CY32.1 10.3 -6.9p-13.3p-10.1p-8.5p-8.7p-7.1bp-2.9p1.0pLV113.8e-13.6 -43.6 -38.4 1.2 21.5 16.6 9.5 11.1 14.0 LT76.7e-3.5 -29.3 -30.8 -1.5 7.7 7.5 11.7 16.3 19.0 LU22.9e9.3e7.7 8.0 13.9 13.4 14.2 15.5 16.6 18.0 HU::-5.3 -10.7 -9.2 -9.4 -2.2 14.8 33.6 35.8 MT61.1 28.6 7.4 -4.6 2.7 1.2 5.2 8.1 14.4 17.5pNL11.7 2.4 -4.0 -8.0 -10.1 -14.0 -11.6 -1.8 9.7 17.0 AT10.1e9.9e11.5be17.3e21.1e19.9 16.8 14.2 17.8 19.9 PL101.6e43.4e-7.2 -6.4e-7.0e-7.6 -6.8 -2.0 4.4 7.4 PT7.3be4.2e3.6e-5.1 -11.0 -13.3 -4.9 5.4 15.1 20.6 RO:::-38.2e-23.0 -17.0 -7.3 0.5 6.7 15.6 SI54.5e19.8e-3.0 -6.9 -4.2 -9.4 -17.6 -10.8 -2.8 12.5 SK:32.7 -1.2 -17.5 -8.0 -3.3 -0.4 7.8 14.0 19.0 FI14.2p8.3p8.7p11.3p12.3 6.9 3.2 0.8 0.1 2.0 SE27.9 17.1 12.4 14.0 12.0 9.4 16.7 30.5 34.4 30.7 UK13.2 -4.4 -8.0 -5.1 4.6 1.5 11.2 17.4 22.4 18.5 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 years % change of the HPI. The indicator is based on Price statistics.Flags: b: Break in series. e: Estimated. p: Provisional. 1) e = Eurostat estimates for ES, LV and LT; e = NSI estimates for CZ, PL, RO and SI; e = source NCB for EL and AT; e = NSI&NCB estimates for LU.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
Table 3.40: Residential construction (% of GDP) 

84 

2008200920102011201220132014201520162017BE6.5 6.1 6.1 5.8 5.9 5.7 5.9 5.8 5.9 5.9 BG5.8 4.7 2.7 2.2 1.7 1.7 1.6 1.4 2.7 2.9 CZ4.0 3.8 4.0 3.7 3.7 3.2 3.4 3.6 3.7 3.9 DK5.4 4.2 3.7 4.3 4.1 3.7 3.9 4.1 4.5 4.6 DE5.0 5.1 5.2 5.6 5.8 5.8 5.9 5.7 5.9 6.1 EE4.3 3.1 2.7 2.7 2.9 3.4 3.9 4.1 4.5 4.3 IE8.2 4.7 3.0 2.0 1.4 1.6 1.7 1.4 1.7 2.0 EL8.1 6.5 5.0 4.6p3.1p2.2p1.0p0.7p0.6p0.6pES10.4 8.1 6.9 5.7 4.9 4.1 4.5 4.4 4.8p5.2pFR6.8 6.3 6.3 6.4 6.2 6.1 6.0 5.9 6.0p6.2pHR::::::::::IT5.8 5.6 5.6 5.3 5.0 4.8 4.5 4.4 4.3 4.4 CY12.1 9.8 8.1 6.2 4.9 4.1 4.1 4.2 4.9p5.7pLV6.1 2.4 1.6 1.9 2.2 2.2 2.5 2.5 2.1 1.9 LT3.4 3.3 2.1 2.0 1.9 2.2 2.5 2.8 3.0 2.7 LU4.4 3.5 2.9 3.0 3.2 3.6 3.8 3.1 3.3 3.2 HU4.1 4.1 3.1 2.2 2.0 1.8 1.9 2.2 2.4 2.8 MT5.6 4.3 3.4 3.4 3.0 2.6 2.4 2.8 3.6 4.8 NL6.2 5.6 4.7 4.2 3.5 3.0 3.1 3.5 4.1 4.4pAT4.4 4.3 4.3 4.4 4.3 4.3 4.3 4.3 4.3 4.4 PL3.8 3.4 3.2 3.0 3.2 3.0 3.0 2.5 2.4 2.8 PT4.7 4.1 3.6 3.3 2.9 2.5 2.5 2.4 2.6 2.8pRO3.1 2.8 2.9 2.7 3.1 2.6 2.4 2.4 2.6 :SI4.6 3.8 3.1 2.8 2.5 2.4 2.2 2.1 2.1 2.1 SK2.5 3.0 2.6 2.4 2.3 2.7 2.3 2.3 2.8 2.7 FI5.9 5.2 6.1 6.3 6.3 6.0 5.5 5.6 6.1 6.4 SE3.9 3.3 3.6 3.9 3.4 3.5 4.0 4.6 5.1 5.7 UK3.6 3.0 3.1 3.1 3.0 3.2 3.5 3.6 3.8 4.0 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: Household debt, consolidated (incl. Non-profit institutions serving households, % of GDP) 

85 

2008200920102011201220132014201520162017BE49.5 51.9 52.7 54.4 54.9 55.8 57.9 58.8 59.2 60.1 BG25.5 26.8 26.0 23.8 23.2 23.2 23.1 21.7 20.9 20.4 CZ25.8 28.5 29.0 30.0 30.9 31.7 30.5 30.4 31.3 29.7 DK130.7 142.5 138.3 138.4 136.3 133.3 131.5 129.5 130.4 128.0 DE59.4 61.7 59.0 56.9 56.3 55.4 54.0 53.2 52.9 52.7 EE50.4 57.0 53.4 45.6 41.9 40.0 38.9 39.7 40.1 39.4 IE108.0 116.2 110.2 104.5 99.1 93.7 81.5 57.1 52.2 47.7 EL49.8 51.8 61.1 63.7 64.6 65.1 63.1 62.2 60.7 57.0 ES82.1 84.2 83.7 82.0 80.9 77.3 73.0 67.9 64.5 61.1 FR48.6 52.6 53.7 54.8 55.1 55.6 55.6 56.1 57.2 58.6 HR39.0 39.9 41.9 41.4 41.1 40.2 40.0 38.4 35.1 34.1 IT39.1 42.5 43.6 43.8 44.0 43.5 42.7 41.9 41.5 41.3 CY102.6 112.5 118.3 121.3 126.8 127.7 130.0 127.7 118.8 107.5 LV42.8 50.4 49.8 40.4 33.2 29.6 26.5 24.5 23.6 22.2 LT28.4 32.6 29.6 25.8 23.7 22.4 21.5 22.2 22.8 22.4 LU53.9 58.2 57.9 57.7 61.0 60.2 60.6 61.3 64.1 65.9 HU36.3 37.5 39.4 37.3 31.5 28.0 25.5 21.3 20.3 18.8 MT54.3 60.0 59.0 59.9 60.4 59.1 56.6 53.0 51.9 50.4 NL109.3 117.2 118.0 117.5 117.4 113.8 111.3 109.5 107.6 104.5pAT52.2 53.5 54.6 53.2 52.0 51.2 51.0 50.9 51.4 50.4 PL30.0 31.6 34.2 35.1 34.1 35.1 35.6 36.0 36.6 34.9 PT89.0 92.1 90.7 90.5 90.4 86.1 81.7 76.7 72.1 68.9 RO20.5 21.5 22.7 21.6 20.6 19.2 18.0 17.5 16.6 16.1 SI25.6 28.5 30.4 30.0 30.8 29.8 28.3 27.6 27.4 27.1 SK20.9 23.7 24.8 26.4 27.9 29.7 32.5 34.7 38.0 40.6 FI52.8 59.3 61.1 61.3 63.6 64.0 65.4 66.7 67.0 67.1 SE68.7 76.7 77.0 77.9 80.5 82.2 83.2 83.5 86.2 88.2 UK93.3 95.7 93.1 90.2 88.9 86.5 84.8 85.4 86.3 86.2 TheHouseholddebtisthestockofliabilitiesheldbythesectorHouseholdsandNon-profitinstitutionsservinghouseholds(S.14_S.15).TheinstrumentsthataretakenintoaccounttocompilesuchindicatorareDebtsecurities(F.3)andLoans(F.4).Dataarepresentedinconsolidatedterms,i.e.nottakingintoaccounttransactionswithinthesamesector,andexpressedin%ofGDPandmillionsofnationalcurrency.Definitionsregardingsectorandinstruments are based on ESA 2010.        (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.42: Consolidated banking leverage, domestic and foreign entities (asset-to-equity multiple) 

86 

2008200920102011201220132014201520162017BE30.5e22.2e20.1e21.7e17.4e15.7e15.1e14.7e14.2e13.2pBG8.8e7.5e7.4e7.4e7.6e7.8e7.9e7.7e7.7e7.7pCZ13.6e12.1e11.9e11.8e10.4e10.8e10.0e10.1e10.7e12.4pDK23.9e22.2e21.8e21.1e20.3e18.4e18.4e16.7e16.7e16.4pDE34.2e26.6e25.8e25.7e23.5e20.3e19.2e18.6e18.4e14.1pEE12.2e14.2e12.4e8.1e7.1e6.8e6.6e7.7e7.7e6.8pIE29.9e20.9e21.1e17.7e15.8e15.0e9.1e7.8e7.4e6.6pEL18.5e14.6e15.4e:26.6e14.0e12.8e11.0e10.1e8.8pES18.0e16.4e17.2e17.4e17.9e14.9e14.0e13.7e13.2e13.5pFR26.7e20.7e20.1e21.1e20.1e18.1e18.9e17.3e16.0e15.2pHR:::::7.5e7.2e8.0e7.2e7.4pIT14.3e12.8e12.7e14.9e14.4e15.0e14.0e13.1e14.2e12.2pCY16.9e17.2e15.2e19.9e26.0e16.2e10.3e10.7e10.7e12.1pLV12.2e13.2e12.7e10.7e10.2e9.9e10.2e9.5e9.9e8.9pLT14.4e17.8e14.2e11.3e10.2e9.6e9.7e9.0e11.6e10.7pLU25.8e18.5e16.8e17.7e15.1e13.9e13.4e13.4e13.4e13.2pHU15.5e13.4e12.3e13.5e11.5e10.7e10.9e11.2e9.9e9.7pMT12.4e9.5e5.0e5.1e5.0e6.6e11.9e14.1e15.8e13.5pNL31.9e23.2e23.2e24.2e22.3e20.8e18.5e18.0e17.7e16.7pAT18.5e15.4e13.8e14.7e13.5e13.4e14.2e13.5e12.5e11.6pPL10.8e9.3e10.0e9.9e9.1e9.0e9.3e9.2e9.4e8.8pPT18.1e16.1e16.2e19.6e15.5e14.8e13.7e12.4e12.9e10.6pRO10.9e11.0e10.1e10.0e9.7e9.7e10.5e9.8e9.8e9.6pSI12.7e12.9e13.2e13.3e12.9e11.3e9.3e8.6e8.0e8.0pSK12.3e10.5e10.4e9.4e8.5e8.2e8.4e9.0e9.2e9.3pFI18.2e16.8e19.6e26.1e26.3e21.7e24.3e19.1e17.7e18.9pSE26.1e22.8e22.4e24.1e22.1e21.3e20.6e18.8e17.6e16.5pUK26.2e22.0e20.8e20.5e19.1e17.9e17.9e15.6e15.1e15.0pTheindicator,coveringthebankingsectoronly,isdefinedastotalassetsdividedbytotalequity,forthereportingsector"domesticbankinggroupsandstand-alonebanks,foreigncontrolledsubsidiariesandforeigncontrolledbranches, all institutions, full sample (all banking groups / stand-alone banks irrespective of their accounting /supervisory framework)". Data source: European Central Bank (ECB).Flags: e: Estimated. p: Provisional.       (cid:9)(cid:9)(cid:9)Source: European Central Bank 
 
 
 
 
 
Table 3.43: Employment rate (1 year % change) 

87 

2008200920102011201220132014201520162017BE1.8 -0.2 0.6 1.4 0.4 -0.3 0.4 0.9 1.3 1.4 BG2.4 -1.7 -3.9 -2.2 -2.5p-0.4p0.4p0.4p0.5p1.8pCZ2.2 -1.8 -1.0 -0.3 0.4 0.3 0.6 1.4 1.6 1.6 DK1.2 -3.2 -2.3 0.0 -0.7 0.0 0.9 1.4 1.6 1.6 DE1.3 0.1 0.3 1.4 1.2 0.6 0.8 0.9 1.3 1.4 EE-0.2 -10.2 -4.9 6.5 1.6 1.2 0.8 2.9 0.3 2.7 IE-0.6 -7.8 -4.5 -1.9b-0.5 3.0 2.7 3.5 3.8 2.9 EL1.3 -0.6 -2.6 -6.9p-6.3p-2.6p0.9p0.7p0.5p1.5pES0.2 -6.3 -1.7 -2.7 -4.0 -2.6 1.0 2.8 2.6p2.6pFR0.5 -1.1 0.1 0.8 0.3 0.2 0.5 0.2 0.7p1.1pHR2.1d-0.7d-3.8d-3.9d-3.6d-2.6d2.7d1.2d0.3d2.2dIT0.2 -1.7 -0.6 0.3 -0.3 -1.8 0.1 0.7 1.3 1.2 CY3.5 0.0 0.5 0.0 -3.2 -5.9 -1.8 1.5 4.6 3.9pLV-0.8 -14.3 -6.7 1.5 1.4 2.3 -1.3 1.4 -0.3 0.0 LT-1.3 -7.7 -5.3 0.5 1.8 1.3 2.0 1.3 2.0 -0.5 LU4.8 1.0 1.8 3.0 2.4 1.8 2.6 2.6 3.0 3.4 HU-2.0 -2.5 -1.1 0.0 0.2 1.1 4.8 2.4 3.1 2.0 MT2.5 0.0 1.7 2.9 2.5 3.7 5.1 3.9 4.2 5.2 NL1.6 -0.9 -0.7 0.9 -0.2 -1.2 -0.1 1.0 1.1p2.2pAT1.9 -0.5 0.8 1.6 1.0 0.3 1.0 0.6 1.3 1.7 PL3.8 0.4 -2.7b0.6 0.1 -0.1 1.7 1.5 0.6p1.4pPT0.4 -2.7 -1.4 -1.9 -4.1 -2.9 1.4 1.4 1.6 3.3pRO0.0 -2.0 -0.3 -0.8 -4.8b-0.9 0.8 -1.3 -1.1 2.8pSI2.6 -1.8 -2.1 -1.7 -0.9 -1.1 0.4 1.3 1.8 2.9 SK3.2 -2.0 -1.5 1.8 0.1 -0.8 1.4 2.0 2.4 2.2 FI2.2 -2.4 -0.7 1.3 0.9 -0.7 -0.5 -0.1 0.5 1.2 SE0.9 -2.4 1.0 2.1 0.7 1.0 1.4 1.5 1.9 2.3 UK0.8 -1.6 0.2 0.5 1.1 1.2 2.4 1.7 1.4 1.0 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. d: Definition differs. 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 

88 

2008200920102011201220132014201520162017BE10.1 11.1 10.9 11.8b12.3 12.7 12.0 12.2 9.9 9.3bBG17.4b19.5 21.0b21.8 21.5 21.6 20.2 19.3 18.2 15.3 CZ6.7 8.5 8.8 8.3b8.9 9.1b8.1 7.5 7.0 6.3 DK4.3 5.4 6.0 6.3 6.6 6.0 5.8 6.2 5.8b7.0bDE8.4b8.8 8.3b7.5b7.1 6.3 6.4 6.2 6.7 6.3 EE8.7 14.5b14.0 11.6 12.2 11.3 11.7 10.8 9.1 9.4 IE13.9 18.3 19.4 19.2 19.2 16.4 15.3 14.3 12.6 10.9bEL11.4b12.4b14.8 17.4 20.2 20.4 19.1 17.2 15.8 15.3 ES14.3 18.1 17.8 18.2 18.6 18.6 17.1b15.6 14.6 13.3 FR10.5 12.7 12.7 12.3 12.5 11.2b11.2b12.0 11.9 11.5 HR11.6 13.4 15.7 16.2 16.6 19.6 19.3 18.1 16.9 15.4 IT16.6 17.6 19.0 19.7 21.0 22.2 22.1 21.4 19.9 20.1 CY9.7 9.9b11.7 14.6 16.0 18.7 17.0 15.3 16.0 16.1 LV11.8 17.5 17.8 16.0 14.9 13.0 12.0 10.5 11.2 10.3 LT8.8 12.1 13.2 11.8 11.2 11.1 9.9 9.2 9.4 9.1 LU6.2 5.8b5.1 4.7 5.9 5.0 6.3 6.2b5.4 5.9 HU11.5 13.6 12.6 13.2 14.8 15.5 13.6 11.6b11.0 11.0 MT8.3 9.9 9.5 10.2 10.8 9.9 10.3 10.5 8.8 8.6bNL3.4 4.1 4.3b4.3 4.9 5.6b5.5 4.7 4.6 4.0 AT7.4 8.2 7.4 7.3 6.8 7.3 7.7 7.5 7.7 6.5 PL9.0b10.1 10.8b11.5 11.8 12.2b12.0 11.0 10.5 9.5 PT10.2 11.2 11.4 12.6b13.9 14.1 12.3 11.3 10.6 9.3 RO11.6 13.9 16.6b17.5 16.8 17.0 17.0 18.1 17.4 15.2 SI6.5 7.5 7.1 7.1 9.3 9.2 9.4 9.5 8.0 6.5 SK11.1 12.5 14.1 13.8b13.8 13.7 12.8 13.7 12.3 12.1 FI7.8 9.9 9.0 8.4 8.6 9.3 10.2 10.6 9.9 9.4 SE7.8b9.6 7.7 7.5 7.8 7.5 7.2 6.7 6.5 6.2 UK12.1b13.2 13.6 14.2 13.9 13.2 11.9 11.1 10.9 10.3 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 (DROM).      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.45: People at risk of poverty or social exclusion - % of total population 

89 

2008200920102011201220132014201520162017BE20.8 20.2 20.8 21.0 21.6 20.8 21.2 21.1 20.7 20.3 BG44.8b46.2 49.2 49.1 49.3 48.0 40.1b41.3 40.4b38.9 CZ15.3 14.0 14.4 15.3 15.4 14.6 14.8 14.0 13.3 12.2 DK16.3 17.6 18.3 17.6b17.5 18.3 17.9 17.7 16.8 17.2 DE20.1 20.0 19.7 19.9 19.6 20.3 20.6 20.0 19.7 19.0 EE21.8 23.4 21.7 23.1 23.4 23.5 26.0b24.2 24.4 23.4 IE23.7 25.7 27.3 29.4 30.3 29.9 27.7 26.0 24.2 :EL28.1 27.6 27.7 31.0 34.6 35.7 36.0 35.7 35.6 34.8 ES23.8b24.7 26.1 26.7 27.2 27.3 29.2 28.6 27.9 26.6 FR18.5b18.5 19.2 19.3 19.1 18.1 18.5 17.7 18.2 17.1 HR::31.1 32.6 32.6 29.9 29.3 29.1 27.9 26.4 IT25.5 24.9 25.0 28.1 29.9 28.5 28.3 28.7 30.0 28.9 CY23.3b23.5 24.6 24.6 27.1 27.8 27.4 28.9 27.7 25.2 LV34.2b37.9 38.2 40.1 36.2 35.1 32.7 30.9 28.5 28.2 LT28.3 29.6 34.0 33.1 32.5 30.8 27.3 29.3 30.1 29.6 LU15.5 17.8 17.1 16.8 18.4 19.0 19.0 18.5 19.8b21.5 HU28.2 29.6 29.9 31.5 33.5 34.8 31.8 28.2 26.3 25.6 MT20.1 20.3 21.2 22.1 23.1 24.0 23.8 22.4 20.1 19.2 NL14.9 15.1 15.1 15.7 15.0 15.9 16.5 16.4 16.7b17.0 AT20.6b19.1 18.9 19.2 18.5 18.8 19.2 18.3 18.0 18.1 PL30.5b27.8 27.8 27.2 26.7 25.8 24.7 23.4 21.9 19.5 PT26.0 24.9 25.3 24.4 25.3 27.5 27.5 26.6 25.1 23.3 RO44.2 43.0 41.5 40.9 43.2 41.9 40.3 37.4 38.8 35.7 SI18.5 17.1 18.3 19.3 19.6 20.4 20.4 19.2 18.4 17.1 SK20.6 19.6 20.6 20.6 20.5 19.8 18.4 18.4 18.1 16.3 FI17.4 16.9 16.9 17.9 17.2 16.0 17.3 16.8 16.6 15.7 SE16.7b17.8 17.7 18.5 17.7 18.3 18.2 18.6 18.3 17.7 UK23.2 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).(cid:9)(cid:9)(cid:9)(cid:9)(cid:9)(cid:9)(cid:9)(cid:9)(cid:9)(cid:9) Flags: b: Break in series. 1) Official transmission deadline for 2017 data on People at risk of poverty and social exclusion is 30 November 2018 while data were extracted on 24 October 2018.       (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.46: People at risk of poverty after social transfers - % of total population 

90 

2008200920102011201220132014201520162017BE14.7 14.6 14.6 15.3 15.3 15.1 15.5 14.9 15.5 15.9 BG21.4 21.8 20.7 22.2 21.2 21.0 21.8 22.0 22.9b23.4 CZ9.0 8.6 9.0 9.8 9.6 8.6 9.7 9.7 9.7 9.1 DK11.8 13.1 13.3 12.1 12.0 11.9 12.1 12.2 11.9 12.4 DE15.2 15.5 15.6 15.8 16.1 16.1 16.7 16.7 16.5 16.1 EE19.5 19.7 15.8 17.5 17.5 18.6 21.8 21.6 21.7 21.0 IE15.5 15.0 15.2 15.2 16.6 15.7 16.4 16.3 16.6 :EL20.1 19.7 20.1 21.4 23.1 23.1 22.1 21.4 21.2 20.2 ES19.8 20.4 20.7 20.6 20.8 20.4 22.2 22.1 22.3 21.6 FR12.5 12.9 13.3 14.0 14.1 13.7 13.3 13.6 13.6 13.3 HR::20.6 20.9 20.4 19.5 19.4 20.0 19.5 20.0 IT18.9 18.4 18.7 19.8 19.5 19.3 19.4 19.9 20.6 20.3 CY15.9 15.8 15.6 14.8 14.7 15.3 14.4 16.2 16.1 15.7 LV25.9 26.4 20.9 19.0 19.2 19.4 21.2 22.5 21.8 22.1 LT20.9 20.3 20.5 19.2 18.6 20.6 19.1 22.2 21.9 22.9 LU13.4 14.9 14.5 13.6 15.1 15.9 16.4 15.3 16.5b18.7 HU12.4 12.4 12.3 14.1 14.3 15.0 15.0 14.9 14.5 13.4 MT15.3 14.9 15.5 15.6 15.1 15.7 15.9 16.3 16.5 16.8 NL10.5 11.1 10.3 11.0 10.1 10.4 11.6 11.6 12.7b13.2 AT15.2 14.5 14.7 14.5 14.4 14.4 14.1 13.9 14.1 14.4 PL16.9 17.1 17.6 17.7 17.1 17.3 17.0 17.6 17.3 15.0 PT18.5 17.9 17.9 18.0 17.9 18.7 19.5 19.5 19.0 18.3 RO23.6 22.1 21.6 22.3 22.9 23.0 25.1 25.4 25.3 23.6 SI12.3 11.3 12.7 13.6 13.5 14.5 14.5 14.3 13.9 13.3 SK10.9 11.0 12.0 13.0 13.2 12.8 12.6 12.3 12.7 12.4 FI13.6 13.8 13.1 13.7 13.2 11.8 12.8 12.4 11.6 11.5 SE13.5b14.4 14.8 15.4 15.2 16.0 15.6 16.3 16.2 15.8 UK18.7 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. 1) Official transmission deadline for 2017 data is 30 November 2018 while data were extracted on 24 October 2018.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
Table 3.47: Severely materially deprived people - % of total population  

91 

2008200920102011201220132014201520162017BE5.6 5.2 5.9 5.7 6.3 5.1 5.9 5.8 5.5 5.1 BG41.2 41.9 45.7 43.6 44.1 43.0 33.1 34.2 31.9b30.0 CZ6.8 6.1 6.2 6.1 6.6 6.6 6.7 5.6 4.8 3.7 DK2.0 2.3 2.7 2.3 2.7 3.6 3.2 3.7 2.6 3.1 DE5.5 5.4 4.5 5.3 4.9 5.4 5.0 4.4 3.7 3.4 EE4.9 6.2 9.0 8.7 9.4 7.6 6.2 4.5 4.7 4.1 IE5.5 6.1 5.7 7.8 9.8 9.9 8.4 7.5 6.5 :EL11.2 11.0 11.6 15.2 19.5 20.3 21.5 22.2 22.4 21.1 ES3.6 4.5 4.9 4.5 5.8 6.2 7.1 6.4 5.8 5.1 FR5.4 5.6 5.8 5.2 5.3 4.9 4.8 4.5 4.4 4.1 HR::14.3 15.2 15.9 14.7 13.9 13.7 12.5 10.3 IT7.5 7.3 7.4 11.1 14.5 12.3 11.6 11.5 12.1 10.1 CY9.1 9.5 11.2 11.7 15.0 16.1 15.3 15.4 13.6 11.5 LV19.3 22.1 27.6 31.0 25.6 24.0 19.2 16.4 12.8 11.3 LT12.5 15.6 19.9 19.0 19.8 16.0 13.6 13.9 13.5 12.4 LU0.7 1.1 0.5 1.2 1.3 1.8 1.4 2.0 1.6b1.2 HU17.9 20.3 21.6 23.4 26.3 27.8 24.0 19.4 16.2 14.5 MT4.3 5.0 6.5 6.6 9.2 9.5 10.2 8.1 4.4 3.3 NL1.5 1.4 2.2 2.5 2.3 2.5 3.2 2.6 2.6b2.6 AT5.9 4.6 4.3 4.0 4.0 4.2 4.0 3.6 3.0 3.7 PL17.7 15.0 14.2 13.0 13.5 11.9 10.4 8.1 6.7 5.9 PT9.7 9.1 9.0 8.3 8.6 10.9 10.6 9.6 8.4 6.9 RO32.7 32.1 30.5 29.5 31.1 29.8 25.9 22.7 23.8 19.7 SI6.7 6.1 5.9 6.1 6.6 6.7 6.6 5.8 5.4 4.6 SK11.8 11.1 11.4 10.6 10.5 10.2 9.9 9.0 8.2 7.0 FI3.5 2.8 2.8 3.2 2.9 2.5 2.8 2.2 2.2 2.1 SE1.8b2.0 1.9 1.7 1.8 1.9 1.0 1.1 0.8 1.1 UK4.5 3.3u4.8 5.1 7.8 8.3 7.4 6.1 5.2 4.9pSeverelymateriallydeprivedpersonshavelivingconditionsseverelyconstrainedbyalackofresources.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. p: Provisional. u: Low reliability. 1) Official transmission deadline for 2017 data is 30 November 2018 while data were extracted on 24 October 2018.      (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 

92 

2008200920102011201220132014201520162017BE11.7 12.3 12.7 13.8 13.9 14.0 14.6 14.9 14.6 13.5 BG8.1b6.9 8.0 11.0 12.5 13.0 12.1 11.6 11.9b11.1 CZ7.2 6.0 6.4 6.6 6.8 6.9 7.6 6.8 6.7 5.5 DK8.5 8.8 10.6 10.5 10.2 11.9 12.2 11.6 10.7 10.0 DE11.7 10.9 11.2 11.2 9.9 9.9 10.0 9.8 9.6 8.7 EE5.3 5.6 9.0 10.0 9.1 8.4 7.6b6.6 5.8 5.8 IE13.7 20.0 22.9 24.2 23.4 23.9 21.0 19.2 18.2 :EL7.5 6.6 7.6 12.0 14.2 18.2 17.2 16.8 17.2 15.6 ES6.6 7.6 10.8 13.4 14.3 15.7 17.1 15.4 14.9 12.8 FR8.8 8.4 9.9 9.4 8.4 8.1 9.6 8.6 8.4 8.1 HR::13.9 15.9 16.8 14.8 14.7 14.4 13.0 12.2 IT10.4 9.2 10.6 10.5 10.6 11.3 12.1 11.7 12.8 11.8 CY4.5b4.0 4.9 4.9 6.5 7.9 9.7 10.9 10.6 9.4 LV5.4 7.4 12.6 12.6 11.7 10.0 9.6 7.8 7.2 7.8 LT6.1 7.2 9.5 12.7 11.4 11.0 8.8 9.2 10.2 9.7 LU4.7 6.3 5.5 5.8 6.1 6.6 6.1 5.7 6.6b6.9 HU12.0 11.3 11.9 12.8 13.5 13.6 12.8 9.4 8.2 6.6 MT8.6 9.2 9.2 8.9 9.0 9.0 9.8 9.2 7.3 6.7 NL8.2 8.5 8.4 8.9 8.9 9.3 10.2 10.2 9.7b9.5 AT7.4b7.1 7.8 8.6 7.7 7.8 9.1 8.2 8.1 8.3 PL8.0 6.9 7.3 6.9 6.9 7.2 7.3 6.9 6.4 5.7 PT6.3 7.0 8.6 8.3 10.1 12.2 12.2 10.9 9.1 8.0 RO8.5 8.1 7.7 7.3 7.9 7.6 7.2 7.9 8.2 6.9 SI6.7 5.6 7.0 7.6 7.5 8.0 8.7 7.4 7.4 6.2 SK5.2 5.6 7.9 7.7 7.2 7.6 7.1 7.1 6.5 5.4 FI7.5 8.4 9.3 10.0 9.3 9.0 10.0 10.8 11.4 10.7 SE7.0b8.5 8.5 9.4 8.1 9.4 9.0 8.7 8.5 8.8 UK10.4 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. 1) Official transmission deadline for 2017 data is 30 November 2018 while data were extracted on 24 October 2018.      (cid:9)(cid:9)(cid:9)Source: European Commission, Eurostat 
 
 
 
 
 
 
Chapter 4: Tables by Member State - Headline indicators 

Table 4.1: The MIP scoreboard for Belgium   

93 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%1.0 0.0 -0.1 -0.1 0.2 -0.5 -0.4 -0.7 -0.8 -0.3 Net international investment position% of GDP-35%51.8 57.5 65.2 60.9 51.8 51.9 45.1 45.9 57.3 52.6 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)3.4 4.0 0.5 -1.5 -4.3 -0.2 -0.6 -1.6 -0.3 0.9 Export market share - % of world exports5 year % change-6%-11.0 -9.0 -11.4 -7.6 -15.6 -13.1 -13.4 -11.9 -2.3 3.9 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)8.9 10.0 7.3 5.3 5.4 8.3 5.6 1.3 -0.4 1.1 House price index (2015=100), deflated 1 year % change6%1.1 0.0 1.4 1.0 0.3 0.4 -1.3 1.2p1.1p1.5pPrivate sector credit flow, consolidated% of GDP14%16.5 12.1 1.7 21.7 13.2 8.2 -2.1 12.4 23.0 -1.5 Private sector debt, consolidated% of GDP133%162.7 172.0 169.2 181.5 189.3 169.2 166.8 180.9 198.9 187.0 General government gross debt% of GDP60%92.5 99.5 99.7 102.6 104.3 105.5 107.6 106.5 106.1 103.4 Unemployment rate3 year average10%7.6 7.5 7.7 7.8 7.7 7.7 8.2 8.5 8.3 7.8bTotal financial sector liabilities, non-consolidated1 year % change16.5%-4.4 0.3 -1.6 5.4 -5.1 0.9 3.3 2.7 2.4 0.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.4 0.4 0.6 -0.4 0.0 -0.2 1.0 0.7 0.1 0.3bLong-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.1 -0.7 0.2 0.2 -0.1 -0.1 0.8 1.0 0.1 -0.8bYouth unemployment rate - % of active population aged 15-243 year change in pp2 pp-3.5 1.4 3.6 0.7 -2.1 1.3 4.5 2.3 -3.6 -3.9bBelgiumExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. p: Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Labour Force Survey indicators, 2017: revision in the survey methodology      (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 volume exports of goods and services) 
 
 
 
 
 
 
 
Table 4.2: The MIP scoreboard for Bulgaria   

94 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-21.0 -18.1 -10.7 -3.2 -0.7 0.3 0.6 0.8 1.3 3.1 Net international investment position% of GDP-35%-93.9 -97.3 -91.9 -82.8 -77.9 -73.3 -72.4 -63.0 -49.2 -42.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)18.5 18.3 9.7 1.9 -4.0 -0.9 -2.8 -4.2 -4.7 -3.3 Export market share - % of world exports5 year % change-6%35.6 19.2 8.1 11.3 -1.0 -0.2 5.6 11.8 8.2 19.4 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)25.5 34.6 29.5 17.7 12.2p16.0p17.8p14.9p9.1p13.6pHouse price index (2015=100), deflated 1 year % change6%17.6p-21.0p-12.3p-8.7 -5.3 0.4 1.5 1.6b7.1 6.2 Private sector credit flow, consolidated% of GDP14%33.3 4.7 3.7 1.4 3.0 7.3 -1.1 -0.3 4.1 6.2 Private sector debt, consolidated% of GDP133%131.4 133.8 132.5 124.2 125.0 132.3 123.4 110.5 104.8 100.1 General government gross debt% of GDP60%13.0 13.7 15.3 15.2 16.7 17.1 27.1 26.2 29.6 25.6 Unemployment rate3 year average10%7.2 6.4 7.6d9.5d11.3d12.2 12.2 11.2 9.4 7.7 Total financial sector liabilities, non-consolidated1 year % change16.5%-0.8 1.3 -5.4 5.4 10.2 4.3 5.6 6.2 11.2 1.1 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp5.7 2.7 0.4b-1.9b-0.1 1.7b3.1b2.2 0.3 2.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-3.1 -2.0 0.6b3.4b3.8 2.7 0.6 -1.2 -2.9 -3.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-9.1 -3.2 7.8d13.1 13.0 6.5 -1.2 -6.5 -11.2 -10.9 BulgariaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. 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 volume exports of goods and services) 
 
 
 
 
 
 
 
Table 4.3: The MIP scoreboard for Czechia 

95 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-3.0 -2.9 -2.6 -2.6 -2.4 -1.4 -0.6 0.0 0.7 1.0 Net international investment position% of GDP-35%-38.1 -43.9 -46.0 -45.2 -45.9 -41.4 -36.6 -32.9 -26.9 -26.5 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)23.1 13.6 12.1 -0.5 0.5 -3.0 -10.0 -8.0 -3.6 5.4 Export market share - % of world exports5 year % change-6%53.1 27.2 11.7 7.4 -4.5 -9.8 -6.2 -2.2 2.5 8.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)6.8 9.0 6.4 3.4 3.8 4.2 4.0 0.1 2.7 5.9 House price index (2015=100), deflated 1 year % change6%7.7e-4.7 -2.2 -1.7 -3.6 -0.8 1.8 3.8p6.7p9.1pPrivate sector credit flow, consolidated% of GDP14%9.3 0.5 2.6 2.1 2.9 4.4 1.7 0.3 4.5 4.1 Private sector debt, consolidated% of GDP133%63.8 65.9 67.9 68.3 70.7 73.7 71.5 68.1 68.9 67.4 General government gross debt% of GDP60%28.3 33.6 37.4 39.8 44.5 44.9 42.2 40.0 36.8 34.7 Unemployment rate3 year average10%5.6 5.5 6.1 6.9 7.0 6.9 6.7 6.1 5.1 4.0 Total financial sector liabilities, non-consolidated1 year % change16.5%6.0 2.5 3.2 4.3 5.2 11.4 5.2 8.1 16.3 22.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.7 -0.2 0.3 0.8b1.5 2.7 3.0b2.4 2.1 2.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-2.0 -1.9 0.2 0.5b1.0 0.0 0.0 -0.6 -1.3 -1.7 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-9.4 -0.9 7.6 8.2 2.9 0.6 -2.2 -6.9 -8.4 -8.0 Employment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. e: Estimated. 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 volume exports of goods and services)CzechiaExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.4: The MIP scoreboard for Denmark  

96 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%2.6 2.6 4.3 5.5 6.5 6.9 7.7 8.3 8.4 8.1 Net international investment position% of GDP-35%-5.1 0.9 12.8 27.8 36.1 37.2 43.3 34.5 55.3 56.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)2.2 5.5 0.2 -2.5 -7.8 -2.5 -1.2 -1.6 -1.7 -2.1 Export market share - % of world exports5 year % change-6%-4.1 -1.1 -10.6 -13.8 -17.7 -17.8 -15.9 -8.5 -2.9 0.5 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)13.2 16.4 9.5 3.6 -0.1 1.5 2.3 3.0 3.3 3.0 House price index (2015=100), deflated 1 year % change6%-7.8 -13.0 0.3 -4.0 -5.0 3.2 3.1 6.2 4.7 3.2 Private sector credit flow, consolidated% of GDP14%18.8 -1.9 -2.9 4.4 7.9 -3.0 -0.3 1.8 2.2 -1.4 Private sector debt, consolidated% of GDP133%222.3 232.2 220.6 221.0 224.0 216.1 214.0 213.1 213.3 204.0 General government gross debt% of GDP60%33.3 40.2 42.6 46.1 44.9 44.0 44.3 39.9 37.9 36.1 Unemployment rate3 year average10%3.7d4.4 5.6 7.0 7.5 7.4 7.0 6.6 6.3 6.0 Total financial sector liabilities, non-consolidated1 year % change16.5%0.0 5.6 9.7 1.6 2.5 1.8 7.3 -1.1 4.4 4.1 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.9 -0.4 -0.7 -1.4 -1.6 -1.3 -1.2 -0.1 1.9b0.7bLong-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.6 -0.2 0.9 1.3 1.5 0.3 -0.1 -0.4 -0.4b-0.4bYouth unemployment rate - % of active population aged 15-243 year change in pp2 pp-0.6 4.1 6.4 6.2 2.3 -0.9 -1.6 -3.3 -1.0 -1.6 DenmarkExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Labour Force Survey indicators, 2017 improvement in the data collection and introduction of CAWI technique.       (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 volume exports of goods and services) 
 
 
 
 
 
 
 
Table 4.5: The MIP scoreboard for Germany  

97 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%6.0 6.0 5.7 5.8 6.2 6.6 7.1 7.7 8.3 8.4 Net international investment position% of GDP-35%18.1 25.0 25.6 23.2 28.5 34.5 40.6 46.4 50.7 54.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)0.9 2.9 -3.7 -4.8 -9.0 -1.8 -0.4 -2.1 -2.6 -2.5 Export market share - % of world exports5 year % change-6%-4.5 -6.7 -7.8 -9.1 -16.6 -12.4 -8.9 -2.6 2.6 6.5 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)-0.1 8.1 7.5 5.7 2.7 5.9 6.7 5.4 4.7 5.1 House price index (2015=100), deflated 1 year % change6%-0.3 1.3 -0.9 1.4 2.0 2.1 2.2 4.1 5.3 2.9 Private sector credit flow, consolidated% of GDP14%0.5 -0.9 0.0 1.6 1.3 2.0 0.1 3.2 3.7 4.9 Private sector debt, consolidated% of GDP133%109.7 113.0 106.7 102.5 101.8 102.7 98.6 98.2 98.5 100.1 General government gross debt% of GDP60%65.2 72.6 81.0 78.6 79.9 77.4 74.5 70.8 67.9 63.9 Unemployment rate3 year average10%8.7 7.8 7.3 6.8 6.1 5.5 5.2 4.9 4.6 4.2 Total financial sector liabilities, non-consolidated1 year % change16.5%4.6 -6.3 -1.1 2.9 3.3 -6.2 4.6 2.9 5.1 4.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.1b1.4 1.1b1.4b0.9 0.9b0.4b0.4 0.3 0.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-2.0 -2.2 -1.6b-1.1b-1.1 -1.0 -0.6 -0.4 -0.6 -0.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-5.0 -2.5 -2.0 -1.9 -3.1 -2.0 -0.8 -0.8 -0.7 -0.9 GermanyExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: 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 volume exports of goods and services) 
 
 
 
 
 
 
 
Table 4.6: The MIP scoreboard for Estonia 

98 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-12.9 -7.1 -1.5 1.9 0.4 0.0 -0.2 1.1 1.5 2.3 Net international investment position% of GDP-35%-75.4 -80.1 -71.2 -54.8 -51.1 -50.1 -47.0 -40.2 -38.9 -31.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)12.6 13.6 4.6 -0.8 -3.6 3.1 4.8 5.9 4.4 2.9 Export market share - % of world exports5 year % change-6%37.0 16.3 9.4 24.3 6.8 9.7 20.5 7.4 0.0 2.6 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)48.7 39.2 13.8 -2.6 0.0 9.1 14.1 13.2 12.0 12.4 House price index (2015=100), deflated 1 year % change6%-16.5 -37.1 2.2 2.6 3.2 7.5 12.6 7.0 3.8 1.8 Private sector credit flow, consolidated% of GDP14%10.5 -6.0 -7.6 -1.1 6.8 3.5 5.6 2.7 6.0 3.6 Private sector debt, consolidated% of GDP133%136.7 153.2 140.4 120.4 117.8 115.9 116.1 113.5 112.2 106.4 General government gross debt% of GDP60%4.5 7.0 6.6 6.1 9.7 10.2 10.5 9.9 9.2 8.7 Unemployment rate3 year average10%5.3d7.9d11.9d14.2 13.0 10.3 8.7 7.4 6.8 6.3 Total financial sector liabilities, non-consolidated1 year % change16.5%4.3 -7.8 -8.9 -0.2 10.5 10.4 13.2 8.6 6.9 9.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp3.5 1.2 0.7 0.5 0.8 1.2 0.5 1.9 2.4 3.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-2.7 0.8 5.3 5.4 1.8 -3.8 -3.8 -3.1 -1.7 -1.4 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-3.1d15.3 22.8 10.4 -6.5 -14.2 -7.4 -7.8 -5.3 -2.9 Employment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: d: Definition differs. 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 volume exports of goods and services)EstoniaExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.7: The MIP scoreboard for Ireland 

99 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-6.3 -6.3 -4.8 -3.3 -2.3 -1.2 0.0 2.3 0.4 2.9 Net international investment position% of GDP-35%-95.7 -116.5 -114.5 -139.8 -137.7 -133.3 -164.3 -198.7 -170.7 -149.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)7.3 5.2 -5.4 -9.6 -12.2 -3.8 -3.6 -6.4 -7.0 -6.2 Export market share - % of world exports5 year % change-6%-16.7 1.9 -6.3 -10.3 -16.3 -10.6 -14.6 37.8 58.7 64.4 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)17.8 8.6 -4.8 -16.5b-12.7 -3.8 -3.7 -18.6 -18.8 -17.2 House price index (2015=100), deflated 1 year % change6%-8.4 -13.6 -11.7p-17.8p-14.8p-0.5p15.1p11.0p6.6p9.5pPrivate sector credit flow, consolidated% of GDP14%22.0 -4.5 2.2 16.4 -0.6 -1.4 2.5 -2.3 -15.6 -7.5 Private sector debt, consolidated% of GDP133%236.4 256.1 257.0 274.0 279.6 267.7 278.3 306.0 283.3 243.6 General government gross debt% of GDP60%42.4 61.5 86.0 110.9 119.9 119.7 104.1 76.8 73.4 68.4 Unemployment rate3 year average10%5.5 8.1 11.3 14.2 15.2 14.9 13.7 11.9 10.1 8.4 Total financial sector liabilities, non-consolidated1 year % change16.5%6.5 3.4 6.3 -2.3 -1.8 1.9 19.5 9.6 1.5 4.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.9 -1.9 -4.0b-3.6 -1.9 0.2 0.6 1.0 0.9 0.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.3 2.1 5.5 7.1 5.7 1.1 -2.2 -3.9 -3.8 -3.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp4.8 15.7 18.9 16.1 6.3 -1.4 -6.2 -10.6 -9.9 -9.0 IrelandExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Privatesectordebt2015:significantincreasesduetore-domicilingoflargemultinationalcorporationsandmovementoflargepartsoftheirbalancesheets.3)LabourForceSurveyindicators,2017:introductionoftheLabourForceSurveyinsubstitution of the Quarterly National Household Survey as data source.       (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 volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.8: The MIP scoreboard for Greece 

100 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-13.9 -14.2 -12.9 -11.2 -8.4 -5.3 -2.5 -1.3 -1.0 -0.8 Net international investment position% of GDP-35%-75.8 -87.5 -99.0 -88.8 -115.9 -130.4 -131.9 -136.1 -139.7 -142.5 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)2.4 4.8 2.8 1.8 -5.0 -4.4 -5.6 -5.6 -4.0 -2.8 Export market share - % of world exports5 year % change-6%4.8 -10.3 -14.3 -15.8 -25.3 -25.7 -18.5 -21.0 -19.1 -10.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)7.4 15.8 14.0 6.8p-2.3p-10.0p-10.4p-9.7p-3.3p-1.0pHouse price index (2015=100), deflated 1 year % change6%-2.5e-4.7e-8.0e-7.5e-12.1e-9.1e-5.1e-3.6e-1.5e-2.2ePrivate sector credit flow, consolidated% of GDP14%15.5 2.2 2.4 -6.5p-5.9p-4.8p-2.8p-2.8p-2.1p-0.8pPrivate sector debt, consolidated% of GDP133%113.0 116.5 128.1 130.2p131.5p130.3p129.2p126.7p124.0p116.4pGeneral government gross debt% of GDP60%109.4 126.7 146.2 172.1 159.6 177.4 178.9 175.9 178.5 176.1 Unemployment rate3 year average10%8.4 8.6 10.0 13.4 18.4 23.3 26.2 26.3 25.0 23.3 Total financial sector liabilities, non-consolidated1 year % change16.5%4.4 10.1 8.4 -3.7 -2.4 -17.6 -8.2 15.3 -16.6 -12.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.3 0.7b1.3 0.6 0.1b-0.3 0.1 0.3 0.7 0.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.5 -1.0b1.5 5.1 10.6 12.8 10.7 3.7 -1.5 -3.9 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-3.9 0.7 10.3 22.8 29.6 25.3 7.7 -5.5 -11.0 -8.8 GreeceExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. e: Estimated. 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 volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.9: The MIP scoreboard for Spain 

101 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-9.3 -7.7 -5.8 -3.8 -2.4 -0.6 0.8 1.3 1.5 1.8 Net international investment position% of GDP-35%-80.2 -93.5 -88.6 -91.9 -89.9 -95.2 -98.0 -89.5 -85.3 -83.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)5.2 4.6 -0.3 -2.5 -5.3 -0.3 -1.0 -3.1 -4.3 -2.5 Export market share - % of world exports5 year % change-6%-14.3 -9.0 -11.7 -8.6 -18.2 -11.2 -12.3 -4.0 2.7 9.8 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)13.7 11.8 5.7 -1.0 -5.1 -4.1 -3.4 -0.3 -0.5p0.0pHouse price index (2015=100), deflated 1 year % change6%-4.8 -5.8 -3.6 -9.8 -16.8 -10.0 0.1 3.8 4.6 4.5 Private sector credit flow, consolidated% of GDP14%11.7 -1.2 0.9 -3.7 -11.2 -10.4 -6.9 -1.8 -1.2p0.2pPrivate sector debt, consolidated% of GDP133%195.9 201.6 200.6 196.4 188.0 177.2 165.8 154.8 146.8p138.8pGeneral government gross debt% of GDP60%39.5 52.8 60.1 69.5 85.7 95.5 100.4 99.3 99.0 98.1 Unemployment rate3 year average10%9.3 12.5 16.4 19.7 22.0 24.1 25.1 24.2 22.1 19.6 Total financial sector liabilities, non-consolidated1 year % change16.5%3.8 3.8 -1.8 3.0 2.9 -10.9 -0.4 -1.2 0.8 4.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.7b2.0 1.7 1.2 1.2 0.8 0.3 0.0 -0.1 -0.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.2 2.5 5.6 6.9 6.7 5.7 4.0 0.4 -3.5 -5.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp4.9 19.8 23.4 21.7 15.2 14.0 7.0 -4.6 -11.1 -14.6 Employment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: 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 volume exports of goods and services)SpainExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.10: The MIP scoreboard for France   

102 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-0.2 -0.4 -0.6 -0.7 -0.8 -0.8 -0.8 -0.6 -0.7 -0.6 Net international investment position% of GDP-35%-13.8 -14.8 -9.3 -8.7 -12.8 -16.6 -15.6 -12.9 -14.9 -20.1 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)1.5 2.6 -2.2 -4.4 -7.8 -2.2 -1.3 -2.8 -3.1 -2.9 Export market share - % of world exports5 year % change-6%-18.5 -13.6 -17.2 -15.4 -18.3 -14.2 -14.5 -3.7 1.3 2.7 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)6.3 8.0 7.4 5.4 4.1 4.6 4.4 2.3 1.3p1.3pHouse price index (2015=100), deflated 1 year % change6%-1.9 -4.7 3.6 4.0 -2.0 -2.6 -1.7 -1.8 1.1 1.8 Private sector credit flow, consolidated% of GDP14%9.8 3.3 4.6 6.4 4.2 2.1 3.2 4.6 7.0p7.0pPrivate sector debt, consolidated% of GDP133%122.4 130.6 132.0 135.3 138.3 137.4 141.5 142.8 146.6p148.2pGeneral government gross debt% of GDP60%68.8 83.0 85.3 87.8 90.6 93.4 94.9 95.6 98.2 98.5 Unemployment rate3 year average10%8.1 8.2 8.6 9.2 9.4 9.8 10.1 10.3 10.3 10.0 Total financial sector liabilities, non-consolidated1 year % change16.5%2.1 -0.6 3.5 6.9 1.4 0.5 5.6 2.2 4.5 4.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.2e0.6e0.5e0.3e0.5e0.9e1.3e1.0e0.7e0.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.8e-0.5e0.6e1.1e0.8e0.5e0.5 0.5 0.2 -0.3 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-2.0 1.6 3.8 3.6 0.8 1.6 1.6 0.3 -0.3 -1.9 FranceExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: 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 volume exports of goods and services) 
 
 
 
 
 
 
 
Table 4.11: The MIP scoreboard for Croatia   

103 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-7.6 -7.2 -5.2 -2.4 -0.7 0.0 0.9 2.4 3.0 3.6 Net international investment position% of GDP-35%-73.8 -86.8 -94.0 -91.5 -90.7 -88.3 -85.3 -76.4 -69.9 -62.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)5.6 5.9 1.8 -4.7 -8.4 -3.9 -0.8 0.2 0.1 0.0 Export market share - % of world exports5 year % change-6%-5.7 -5.2 -13.2 -16.0 -24.1 -23.3 -20.3 -6.1 7.8 20.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.9d15.8d11.7d6.3d-1.5d-4.0d-6.5d-6.3d-5.1d-4.3dHouse price index (2015=100), deflated 1 year % change6%-2.6e-8.0 -7.7 -2.1 -4.6 -5.8 -1.1 -2.4 2.1 2.8 Private sector credit flow, consolidated% of GDP14%16.1 2.6 4.9 -2.3 -3.0 -0.6 0.1 -1.4 -0.1 1.2 Private sector debt, consolidated% of GDP133%110.8 118.9 125.2 122.7 120.0 117.7 118.0 113.0 105.3 98.4 General government gross debt% of GDP60%39.0 48.3 57.3 63.8 69.4 80.4 84.0 83.7 80.2 77.5 Unemployment rate3 year average10%10.0d9.3 9.9 11.6 13.8 15.6 16.8 16.9 15.6 13.5 Total financial sector liabilities, non-consolidated1 year % change16.5%-8.1 4.5 3.5 2.0 1.2 2.8 0.7 1.9 3.3 3.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.5e2.6e-0.6 -1.7 -1.7 -1.4 2.0 3.0 1.9 0.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-2.1 -1.6 0.6 3.1 5.1 4.4 1.7 0.0 -4.4 -5.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-8.1 -3.5 6.9 13.0 16.8 17.6 8.3 0.1 -18.1 -17.7 CroatiaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: d: Definition differs. e: Estimated. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Nominal unit labour cost d: employment data use national concept instead of domestic concept.3) 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 volume exports of goods and services) 
 
 
 
 
 
 
 
Table 4.12: The MIP scoreboard for Italy 

104 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-1.9 -2.0 -2.7 -2.8 -2.2 -0.8 0.9 1.5 2.0 2.3 Net international investment position% of GDP-35%-21.7 -22.3 -20.2 -18.3 -22.2 -22.7 -21.0 -19.5 -9.9 -5.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)1.9 3.6 -1.9 -3.2 -6.2 0.1 0.2 -2.4 -3.3 -3.1 Export market share - % of world exports5 year % change-6%-15.9 -17.9 -19.0 -19.3 -25.6 -20.2 -15.3 -9.3 -3.2 2.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)8.5 11.1 8.9 5.3 2.1 2.9 2.3 1.6 1.6 1.1 House price index (2015=100), deflated 1 year % change6%-0.5e-0.2e-0.7be-1.5 -5.1 -7.5 -5.0 -4.0 -0.2p-2.0pPrivate sector credit flow, consolidated% of GDP14%6.6 0.8 5.0 3.1 -0.8 -3.0 -0.5 -1.4 -0.1 2.1 Private sector debt, consolidated% of GDP133%113.9 122.5 123.3 122.7 125.1 121.6 119.0 115.1 111.8 110.5 General government gross debt% of GDP60%102.4 112.5 115.4 116.5 123.4 129.0 131.8 131.6 131.4 131.2 Unemployment rate3 year average10%6.5 6.8 7.6 8.2 9.2 10.4 11.8 12.2 12.1 11.6 Total financial sector liabilities, non-consolidated1 year % change16.5%-1.5 5.1 4.2 5.1 7.3 -2.7 0.6 1.3 3.3 4.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.4 -0.3 -0.4 -0.8 1.2 1.4 1.8 0.5 1.5 1.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.7 0.1 1.1 1.3 2.2 2.9 3.4 1.3 -0.2 -1.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-2.9 3.5 7.5 8.0 10.0 12.1 13.5 5.0 -2.2 -8.0 ItalyExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. e: Estimated. 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 volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.13: The MIP scoreboard for Cyprus   

105 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-11.8 -11.7 -11.5 -7.7 -7.1 -5.0 -5.1 -3.6 -3.6 -5.0 Net international investment position% of GDP-35%-79.1 -100.3 -111.2 -129.9 -129.1 -138.7 -147.0 -145.0 -123.0 -121.5 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)2.3 3.6 0.0 -3.0 -5.9 -0.8 -1.7 -6.1 -7.4 -6.6 Export market share - % of world exports5 year % change-6%-25.3e-9.1e-15.8e-11.4e-21.7e-15.3 -24.1 -12.2 -2.1 6.9 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.8 12.7 11.1 9.6 2.9 -2.6 -8.0 -10.9 -6.9p-2.7pHouse price index (2015=100), deflated 1 year % change6%0.9 -6.9 -7.8p-4.3p-5.2p-3.9p-1.0p0.2bp1.7 1.3pPrivate sector credit flow, consolidated% of GDP14%29.8 13.3 15.1 13.0 16.5 -13.3 -0.3 4.1 9.7p8.7pPrivate sector debt, consolidated% of GDP133%285.0 306.0 315.6 321.6 328.1 340.1 352.4 353.5 337.8p316.3pGeneral government gross debt% of GDP60%45.6 54.3 56.8 66.2 80.1 103.1 108.0 108.0 105.5 96.1 Unemployment rate3 year average10%4.1 4.3 5.1 6.5 8.7 11.9 14.6 15.7 14.7 13.0 Total financial sector liabilities, non-consolidated1 year % change16.5%115.6 11.7 8.4 -6.1 6.4 -15.3 -3.6 11.1 1.8 -2.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.2 0.0b-0.3 -0.1 0.5b0.0 0.8 0.4 -0.2 -0.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.8 -0.3b0.6 1.1 3.0 4.8 6.1 3.2 -0.3 -3.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-4.9 3.8 6.4 13.4 13.9 22.3 13.6 5.1 -9.8 -11.3 Employment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: 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 volume exports of goods and services)CyprusExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
Table 4.14: The MIP scoreboard for Latvia 

106 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-17.9 -8.4 -0.8 2.2 -1.6 -3.2 -2.7 -1.6 -0.2 0.6 Net international investment position% of GDP-35%-74.2 -82.7 -82.9 -74.4 -67.2 -66.4 -66.1 -63.5 -58.4 -56.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)20.7 23.5 6.7 -2.4 -8.6 -1.7 0.4 2.6 4.9 1.7 Export market share - % of world exports5 year % change-6%76.8 52.6 21.7 26.6 7.9 5.9 11.0 12.5 9.4 7.8 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)78.3 37.2 -2.2 -21.0 -6.9 8.1 16.3 17.5 16.9 14.7 House price index (2015=100), deflated 1 year % change6%-10.9 -34.9 -8.7 4.1 -0.4 6.5 4.3 -2.4 7.3 5.5 Private sector credit flow, consolidated% of GDP14%9.1 -8.6 2.5 -2.0 -2.1 0.9 -11.8 0.7 0.3 0.3 Private sector debt, consolidated% of GDP133%104.5 125.4 134.0 115.3 97.9 92.6 96.2 88.9 88.0 83.5 General government gross debt% of GDP60%18.2 35.8 46.8 42.7 41.2 39.0 40.9 36.8 40.3 40.0 Unemployment rate3 year average10%6.9 10.4 14.9 17.7 16.9 14.4 12.6 10.9 10.1 9.4 Total financial sector liabilities, non-consolidated1 year % change16.5%9.0 -9.2 -0.3 -4.1 5.2 5.2 10.4 12.2 5.8 6.1 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp5.1 2.5 0.4 -1.4 0.9 1.0 1.8 1.3 2.3 2.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-2.6 2.1 7.2 6.9 3.3 -3.1 -4.2 -3.3 -1.7 -1.3 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-1.5 19.7 25.6 17.4 -4.8 -13.0 -11.4 -12.2 -5.9 -2.6 LatviaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold.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 volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.15: The MIP scoreboard for Lithuania 

107 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-13.3 -9.2 -4.5 -1.5 -2.4 -1.7 0.9 0.6 0.0 -0.7 Net international investment position% of GDP-35%-51.9 -58.7 -56.2 -52.7 -53.6 -47.1 -45.1 -43.4 -42.7 -35.9 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)8.9 16.7 7.2 1.7 -6.7 -0.6 1.7 4.3 5.3 2.3 Export market share - % of world exports5 year % change-6%43.1e30.8 19.0 29.6 32.3 19.3 33.7 14.9 5.1 9.7 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)28.8 13.0 0.3 -7.8 -4.2 6.2 8.7 11.8 15.3 16.0 House price index (2015=100), deflated 1 year % change6%-1.8 -32.8 -8.6 2.4 -3.2 0.2 6.3 4.6 4.5 5.4 Private sector credit flow, consolidated% of GDP14%10.4 -9.4 -5.9 -2.2 0.4 -0.4 0.3 2.4 4.4 3.7 Private sector debt, consolidated% of GDP133%76.7 83.3 74.5 64.7 61.1 56.3 53.9 54.8 56.1 56.1 General government gross debt% of GDP60%14.6 28.0 36.2 37.2 39.8 38.8 40.5 42.6 39.9 39.4 Unemployment rate3 year average10%5.3 8.0 12.5 15.7 15.5 13.5 12.0 10.5 9.2 8.0 Total financial sector liabilities, non-consolidated1 year % change16.5%4.6 -4.3 0.1 2.0 -0.7 -1.4 16.2 7.0 16.6 14.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.3 2.0 2.3 3.0 2.2 2.2 2.3 2.3 3.1 2.2 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-3.1u0.7 6.0 6.7 3.3 -2.3 -3.2 -2.7 -2.1 -2.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-2.5 19.6 27.3 19.3 -2.9 -13.8 -13.3 -10.4 -7.4 -6.0 LithuaniaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: 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 volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.16: The MIP scoreboard for Luxembourg 

108 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%9.1 8.2 7.1 6.6 6.1 5.7 5.4 5.2 5.1 5.0 Net international investment position% of GDP-35%16.3 -28.9 -20.4 28.9 50.9 53.9 48.6 30.8 47.2 47.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)3.4 3.8 1.2 0.1 -2.4 0.8 0.5 -0.6 -1.4 -0.9 Export market share - % of world exports5 year % change-6%15.7 11.9 3.2 -3.8 -10.2 7.4 14.9 28.7 31.5 25.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)12.6 17.6 16.0 8.8 5.9 7.6 7.1 2.6 3.6 7.1 House price index (2015=100), deflated 1 year % change6%0.2 -0.6 4.2 0.5 2.2 3.3 3.9 5.3 5.9 4.1 Private sector credit flow, consolidated% of GDP14%-5.6 7.4 -22.5 21.4 25.9 27.8 29.7 27.6 5.2 -15.5 Private sector debt, consolidated% of GDP133%302.7 332.2 284.2 284.3 303.7 313.3 356.6 379.4 353.4 322.9 General government gross debt% of GDP60%14.9 15.7 19.8 18.7 22.0 23.7 22.7 22.2 20.7 23.0 Unemployment rate3 year average10%4.6d4.7 4.9 4.8 4.8 5.3 5.7 6.1 6.3 6.1 Total financial sector liabilities, non-consolidated1 year % change16.5%-6.9 6.8 13.1 10.9 15.2 10.3 36.0 17.3 4.5 -1.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.2 2.0b1.3b1.1 0.7b1.7 2.9 1.5b0.1 -0.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.4 -0.2b0.1 -0.2 0.4 0.5 0.2 0.3b0.4 0.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp2.7 1.0 0.2 -0.9 1.5 1.1 5.9 -1.4 2.2 -6.9 Employment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Internationalinvestmentpositionhasbeenreviseddownwardsin2015followingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Privatesectordebt,privatesectorcreditflow, and total financial sector liabilities: due to improved sources and methods, there are significant revisions particularly for 2014-2015. 4) Labour Force Survey indicators, 2015: change in the sampling strategy and data collection technique.      (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 volume exports of goods and services)LuxembourgExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.17: The MIP scoreboard for Hungary 

109 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-7.0 -4.9 -2.5 0.1 0.9 2.1 2.3 2.7 3.5 4.0 Net international investment position% of GDP-35%-101.7 -115.0 -108.3 -105.7 -93.6 -83.1 -80.3 -67.5 -58.5 -52.9 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)7.9 7.7 -1.3 -4.2 -0.8 -3.8 -6.8 -7.1 -5.1 0.1 Export market share - % of world exports5 year % change-6%25.3 12.9 3.4 -2.4 -21.3 -22.8 -16.7 -9.2 -0.2 11.3 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)11.4 12.6 7.0 4.3 5.0 6.2 5.7 -0.6 3.8 6.7 House price index (2015=100), deflated 1 year % change6%-3.2 -8.9 -5.9 -6.9 -9.3 -4.3 3.4 13.3 13.6 3.3 Private sector credit flow, consolidated% of GDP14%12.6 6.1 -4.1 -4.4 -6.1 -0.9 -0.1 -2.5 -3.0 0.9 Private sector debt, consolidated% of GDP133%105.0 116.5 115.1 114.5 101.8 95.2 91.4 84.6 77.9 71.4 General government gross debt% of GDP60%71.6 77.8 80.2 80.5 78.4 77.1 76.6 76.6 75.9 73.3 Unemployment rate3 year average10%7.6d8.4d9.7d10.7 11.1 10.7 9.6 8.2 6.5 5.4 Total financial sector liabilities, non-consolidated1 year % change16.5%26.1 1.9 -0.3 6.3 -5.8 -1.3 8.4 0.4 19.3 -8.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.1 -0.8 0.3 1.2 2.5 2.8 4.6 4.9 5.4 4.2 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.4 0.8 2.0 1.6 0.8 -0.6 -1.5 -1.9 -2.5 -2.0 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp0.1d7.3 8.3 6.5 1.8 0.2 -5.6 -10.9 -13.7 -9.7 HungaryExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: d: Definition differs. 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 volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.18: The MIP scoreboard for Malta 

110 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-3.2 -3.2 -4.1 -3.8 -1.1 1.4 4.4 5.3 6.7 8.4 Net international investment position% of GDP-35%4.2 12.6 12.1 6.3 19.6 27.0 43.2 50.8 45.2 62.6 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)5.9 5.9 -0.7 -5.0 -7.6 -1.2 0.1 -2.7 -2.8 -2.3 Export market share - % of world exports5 year % change-6%10.9 45.8 37.8 17.7 12.2 -0.6 -12.5 -2.3 10.0 11.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.5 11.2 9.2 11.1 8.7 9.8 3.3 -0.4 0.2 1.7 House price index (2015=100), deflated 1 year % change6%7.1 -6.1 -1.0 -3.5 0.4 -1.4 2.1 4.0 4.8 4.1pPrivate sector credit flow, consolidated% of GDP14%13.4 12.7 7.5 5.4 -0.7 2.7 3.9 2.7 11.3 2.9 Private sector debt, consolidated% of GDP133%153.3 168.1 162.4 159.8 153.2 143.9 135.7 122.5 123.5 120.2 General government gross debt% of GDP60%62.6 67.6 67.5 70.1 67.7 68.4 63.7 58.6 56.3 50.9 Unemployment rate3 year average10%6.9 6.9 7.0 7.1 7.0 6.8 6.6 6.3 5.8 5.2 Total financial sector liabilities, non-consolidated1 year % change16.5%13.2 4.3 12.4 11.0 6.1 1.6 6.4 1.3 3.8 4.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.5b1.5 1.6 2.7 4.5 5.9 6.0 4.9 4.3 4.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.8 0.2 0.4 0.4 0.1 -0.3 -0.3 -0.6 -0.9 -1.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-4.3 -0.9 -0.2 1.6 -0.4 -0.3 -1.5 -2.2 -1.8 -1.2 MaltaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: 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 volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.19: The MIP scoreboard for Netherlands 

111 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%7.0 5.8 5.8 7.0 8.6 9.5 9.5 8.2 7.6 8.3 Net international investment position% of GDP-35%-8.0 1.4 11.0 20.1 26.7 30.7 48.0 50.1 62.7 59.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.1 2.7 -1.5 -2.4 -6.0 0.5 0.7 -0.8 -2.2 -1.6 Export market share - % of world exports5 year % change-6%-6.1 -5.4 -8.2 -8.3 -12.8 -11.4 -11.3 -6.8 -2.9 1.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.7 11.3 7.7 5.3 2.6 4.8 3.7 -0.4 -0.6p-0.2pHouse price index (2015=100), deflated 1 year % change6%0.1 -3.0 -3.3 -4.0 -7.9 -7.9 -0.1 3.4 4.4 6.0 Private sector credit flow, consolidated% of GDP14%12.0 9.7 2.8 7.6 5.5 8.3 3.7 0.9 5.6 3.0pPrivate sector debt, consolidated% of GDP133%230.5 245.4 244.2 246.4 250.7 254.9 268.1 264.2 262.1 252.1pGeneral government gross debt% of GDP60%54.7 56.8 59.3 61.7 66.2 67.7 67.9 64.6 61.9 57.0 Unemployment rate3 year average10%4.3 4.1 4.4 4.8 5.3 6.0 6.8 7.2 6.8 5.9 Total financial sector liabilities, non-consolidated1 year % change16.5%2.6 8.4 4.8 9.5 5.0 -0.5 4.8 3.8 6.0 2.0pActivity rate - % of total population aged 15-643 year change in pp-0.2 pp2.4 2.3 -0.3b-1.2b-0.7 1.2b0.9b0.6 0.3 0.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.0 -0.9 0.0b0.7b1.1 1.3 1.3 1.1 0.0 -1.0 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-3.2 0.2 1.7 1.4 1.5 2.1 2.7 -0.4 -2.4 -3.8 NetherlandsExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. p: Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Private sector debt, Private sector credit flow, Total financial sector liabilities: significant revisions from 2008 to 2016 due to the 2018 national accounts benchmark revision.       (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 volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.20: The MIP scoreboard for Austria   

112 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%3.9 3.6 3.3 2.4 2.0 1.7 2.0 2.0 2.2 2.1 Net international investment position% of GDP-35%-10.0 -5.0 -5.2 -1.9 -3.2 1.3 3.4 2.2 3.7 3.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.1 2.0 -2.0 -1.8 -4.7 0.8 1.9 1.4 1.0 0.3 Export market share - % of world exports5 year % change-6%-4.5 -6.1 -12.6 -12.5 -21.7 -18.4 -15.7 -9.2 -3.3 2.3 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)6.3 10.2 9.0 5.8 3.8 6.4 7.9 6.2 5.3 3.7 House price index (2015=100), deflated 1 year % change6%-1.1e3.6e4.4be3.0 4.8 3.0 1.4 3.3 7.0 3.5 Private sector credit flow, consolidated% of GDP14%5.4 1.3 0.3 3.0 1.2 1.0 0.9 2.2 3.4 4.3 Private sector debt, consolidated% of GDP133%126.7 131.9 132.3 129.4 128.2 127.1 124.8 124.2 124.1 122.5 General government gross debt% of GDP60%68.7 79.9 82.7 82.4 81.9 81.3 84.0 84.8 83.0 78.3 Unemployment rate3 year average10%4.8 4.8 4.7 4.9 4.8 5.0 5.3 5.6 5.8 5.7 Total financial sector liabilities, non-consolidated1 year % change16.5%10.9 -2.0 -1.9 1.5 0.4 -3.2 -0.8 -0.1 -2.6 1.8 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.5 1.9 0.9b0.7 0.8 1.1 0.8 0.4 0.7 1.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.4 -0.3 -0.1 0.2 0.0 0.1 0.3 0.5 0.6 0.3 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-2.5 0.9 0.1 0.4 -1.3 0.2 1.4 1.2 1.5 -0.5 AustriaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. e: Estimated. 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 volume exports of goods and services) 
 
 
 
 
 
 
 
Table 4.21: The MIP scoreboard for Poland   

113 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-5.7 -5.7 -5.3 -4.8 -4.8 -3.4 -2.4 -1.3 -1.1 -0.3 Net international investment position% of GDP-35%-55.6 -57.3 -65.1 -62.4 -65.3 -68.9 -69.1 -62.1 -61.7 -61.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)13.9 -4.1 -1.3 -11.4 1.4 -4.3 -1.0 -1.3 -5.0 -3.4 Export market share - % of world exports5 year % change-6%51.4e34.4 24.7 15.2 1.4 -0.3 4.7 9.2 17.8 28.4 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)10.5 12.3 11.3b4.2 5.3 3.1 2.9 0.2 2.5p4.5pHouse price index (2015=100), deflated 1 year % change6%-4.6e-5.4e-6.0e-4.6 -6.6 -4.8 1.2 2.6 2.3 1.7 Private sector credit flow, consolidated% of GDP14%14.2 4.4 4.3 6.7 4.8 3.3 4.6 3.5 5.2 2.7 Private sector debt, consolidated% of GDP133%67.3 67.1 69.7 73.9 73.4 75.4 78.1 78.9 81.6 76.4 General government gross debt% of GDP60%46.3 49.4 53.1 54.1 53.7 55.7 50.4 51.3 54.2 50.6 Unemployment rate3 year average10%10.2 8.3d8.3d9.2d9.8 10.0 9.8 8.9 7.6 6.2 Total financial sector liabilities, non-consolidated1 year % change16.5%6.8 9.0 13.6 4.8 10.7 7.4 0.7 2.4 9.0 6.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.6 1.3 2.1b1.9 1.8 1.7b2.2 1.6 1.8 1.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-7.9 -5.3 -1.9b1.2 1.6 1.4 0.2 -1.1 -2.2 -2.3 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-19.7 -9.2d2.1 8.6 5.9 3.6 -1.9 -5.7 -9.6 -9.1 PolandExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. e: Estimated. 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 volume exports of goods and services) 
 
 
 
 
 
 
 
Table 4.22: The MIP scoreboard for Portugal 

114 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-10.8 -10.8 -10.9 -8.9 -6.0 -2.1 0.0 0.6 0.3 0.4 Net international investment position% of GDP-35%-95.1 -107.9 -104.3 -100.7 -116.5 -116.3 -118.6 -113.2 -105.5 -104.9 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)2.1 1.1 -3.1 -3.0 -4.0 -0.6 -1.8 -3.0 -1.8 -0.7 Export market share - % of world exports5 year % change-6%-11.1 -8.1 -6.9 -8.6 -16.6 -7.5 -6.1 1.7 5.5 14.6 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)4.5 6.6 4.2 -0.6 -6.3 -3.4 -2.7 0.5 0.1 3.5pHouse price index (2015=100), deflated 1 year % change6%0.9be1.0 -1.0 -6.4 -8.8 -2.7 3.9 2.1 6.1 7.9 Private sector credit flow, consolidated% of GDP14%15.9 5.3 5.3 -0.9 -3.9 -1.6 -5.7 -1.9 -2.1 1.3pPrivate sector debt, consolidated% of GDP133%196.2 204.2 201.5 204.1 210.3 202.4 190.5 179.4 169.3 162.2pGeneral government gross debt% of GDP60%71.7 83.6 96.2 111.4 126.2 129.0 130.6 128.8 129.2 124.8 Unemployment rate3 year average10%8.9 9.5 10.5 11.9 13.6 15.0 15.4 14.4 12.6 10.9 Total financial sector liabilities, non-consolidated1 year % change16.5%4.4 8.9 11.5 -4.5 -3.0 -5.4 -7.5 -1.6 -0.3 1.8 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.7 -0.2 -0.2 -0.3b0.0 -0.7 -0.4b0.0 0.7 1.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.1 0.3 1.9 2.6b3.5 3.6 2.2 -0.5 -3.1 -3.9 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp0.8 4.1 6.8 8.6 12.7 9.9 4.5 -6.0 -9.9 -10.9 PortugalExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. e: Estimated. 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 volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.23: The MIP scoreboard for Romania 

115 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-11.8 -9.9 -7.1 -4.9 -4.9 -3.6 -2.2 -1.0 -1.3 -2.2 Net international investment position% of GDP-35%-51.2 -60.1 -63.9 -65.8 -67.4 -62.8 -57.3 -54.6 -48.9 -47.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)9.4 -4.9 -10.9 -3.2 -2.0 0.5 -1.0 2.8 -2.5 -5.5 Export market share - % of world exports5 year % change-6%91.9 69.4 53.3 50.0 12.3 13.7 20.1 20.5 23.3 37.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)32.9 28.7 38.3 4.2 4.3b-5.6 5.4 0.6 9.5 11.9pHouse price index (2015=100), deflated 1 year % change6%:-26.5e-12.7 -16.0 -9.2 -2.7 -3.1 1.8 5.0 4.0 Private sector credit flow, consolidated% of GDP14%12.7 -1.6 0.9 2.8 0.3 -1.4 -2.4 0.2 0.6 1.7pPrivate sector debt, consolidated% of GDP133%63.9 69.8 74.7 73.7 72.1 66.8 62.1 59.1 55.6 50.8pGeneral government gross debt% of GDP60%12.4 22.1 29.7 34.0 36.9 37.6 39.2 37.8 37.3 35.1 Unemployment rate3 year average10%6.4 6.2 6.4 6.9 7.0 7.0 6.9 6.9 6.5 5.9 Total financial sector liabilities, non-consolidated1 year % change16.5%14.0 16.0 5.0 4.6 4.4 0.8 1.3 4.1 6.9 8.1 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.6 -0.5 1.9b1.2 1.7 0.0b1.6 1.3 0.7 1.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.6 -1.9 -0.8b0.5 0.8 0.8 -0.1 0.0 -0.2 -0.8 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-1.5 -0.2 2.8 6.3 2.6 1.6 0.1 -0.9 -3.1 -5.7 Employment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. e: Estimated. 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 volume exports of goods and services)RomaniaExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.24: The MIP scoreboard for Slovenia  

116 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-3.8 -3.3 -2.0 -0.2 0.7 2.2 4.1 4.9 5.3 5.7 Net international investment position% of GDP-35%-39.4 -43.6 -47.2 -45.2 -50.1 -47.2 -45.8 -39.6 -36.8 -32.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)2.2 5.2 1.2 -1.1 -4.5 -0.6 1.2 0.4 -0.5 -2.0 Export market share - % of world exports5 year % change-6%16.3 9.6 -1.7 -5.8 -21.0 -18.4 -12.9 -4.4 4.0 18.6 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)10.6 18.5 16.1 8.3 0.6 0.5 0.0 -0.4 0.9 3.4 House price index (2015=100), deflated 1 year % change6%1.4 -10.2 -1.3 0.9 -8.4 -7.2 -6.6 1.4 3.8 6.2 Private sector credit flow, consolidated% of GDP14%15.5 2.9 1.9 0.4 -2.9 -4.0 -4.7 -5.0 -0.8 0.8 Private sector debt, consolidated% of GDP133%105.6 113.5 115.1 113.0 112.3 107.2 97.4 86.7 80.6 75.6 General government gross debt% of GDP60%21.8 34.6 38.4 46.6 53.8 70.4 80.4 82.6 78.7 74.1 Unemployment rate3 year average10%5.1 5.1 5.9 7.1 8.1 9.1 9.6 9.6 8.9 7.9 Total financial sector liabilities, non-consolidated1 year % change16.5%6.6 7.7 -3.4 -1.2 -0.7 -10.3 -0.2 -3.7 3.2 5.1 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.1 0.9 0.2 -1.5 -1.4 -1.0 0.6 1.4 1.1 3.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.2 -1.1 1.0 1.7 2.5 2.0 1.7 0.4 -0.9 -2.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-5.5 -0.3 4.6 5.3 7.0 6.9 4.5 -4.3 -6.4 -9.0 SloveniaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold.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 volume exports of goods and services) 
 
 
 
 
 
 
 
Table 4.25: The MIP scoreboard for Slovakia  

117 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-7.3 -5.3 -4.9 -4.4 -2.9 -0.7 1.3 0.4 -0.9 -2.0 Net international investment position% of GDP-35%-58.1 -66.5 -61.9 -64.4 -61.4 -62.3 -63.6 -64.4 -66.6 -65.6 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)25.0 27.1 11.0 3.4 -3.2 2.1 1.2 -1.1 -1.5 -1.9 Export market share - % of world exports5 year % change-6%31.9e9.5 3.8 -2.7 -10.3 -4.1 1.9 4.2 8.1 6.7 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)6.0 10.9 9.5 6.1 0.8 2.2 1.8 2.1 3.1 6.9 House price index (2015=100), deflated 1 year % change6%12.9 -12.7 -4.9 -5.2 -6.0 -0.4 1.5 5.5 7.0 4.4 Private sector credit flow, consolidated% of GDP14%10.9 3.0 2.9 3.0 3.1 5.1 5.7 8.2 9.5 5.9 Private sector debt, consolidated% of GDP133%64.9 69.2 67.4 70.2 71.8 76.9 82.5 83.3 90.5 96.1 General government gross debt% of GDP60%28.5 36.3 41.2 43.7 52.2 54.7 53.5 52.2 51.8 50.9 Unemployment rate3 year average10%11.4 11.0 12.1 13.4d14.1d14.0d13.8 13.0 11.5 9.8 Total financial sector liabilities, non-consolidated1 year % change16.5%10.5 -4.7 1.6 0.3 0.7 1.7 8.7 10.8 8.5 17.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.1 -0.2 0.4 -0.1b1.0 1.2 1.6b1.5 2.0 1.8 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-5.1 -3.7 0.9 2.6b2.9 0.8 0.1 -1.8 -4.2 -4.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-11.1 0.6 13.3 14.4d6.4 -0.2 -4.0 -7.5 -11.5 -10.8 SlovakiaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: b: Break in series. d: Definition differs. e: Estimated. 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 volume exports of goods and services) 
 
 
 
 
 
 
 
Table 4.26: The MIP scoreboard for Finland   

118 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%3.2 2.5 1.6 0.3 -1.0 -2.1 -2.1 -1.6 -1.1 -0.7 Net international investment position% of GDP-35%-4.6 3.2 16.5 15.1 11.7 3.9 -3.2 1.6 3.3 2.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.4 5.0 -1.3 -2.8 -8.3 0.2 2.7 2.2 0.5 -2.6 Export market share - % of world exports5 year % change-6%-4.4 -13.3 -19.7 -23.5 -31.7 -31.4 -26.4 -21.4 -13.8 -4.3 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)7.5 15.2 13.2 9.4 6.0 9.1 7.8 3.7 1.3 -2.5 House price index (2015=100), deflated 1 year % change6%-2.4p-0.4p4.8 0.0 -0.4 -1.3 -1.6 -0.3 -0.3 0.5 Private sector credit flow, consolidated% of GDP14%16.7 0.8 7.3 3.6 7.4 2.8 1.7 6.9 1.4 8.2 Private sector debt, consolidated% of GDP133%132.7 142.8 148.9 145.4 148.6 147.7 149.8 152.9 148.5 146.4 General government gross debt% of GDP60%32.7 41.7 47.1 48.5 53.9 56.5 60.2 63.6 63.0 61.3 Unemployment rate3 year average10%7.0 7.2 7.7 8.1 8.0 7.9 8.2 8.8 9.0 8.9 Total financial sector liabilities, non-consolidated1 year % change16.5%16.8 7.8 19.9 28.8 -1.4 -11.6 9.2 1.4 3.9 -3.8 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.3 -0.2 -1.1 -1.1 0.2 0.7 0.5 0.6 0.7 1.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.9 -0.5 0.5 0.5 0.2 -0.3 0.2 0.7 0.6 0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-3.6 2.8 4.9 3.6 -2.5 -1.5 0.4 3.4 0.2 -0.4 Employment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: 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 volume exports of goods and services)FinlandExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
Table 4.27: The MIP scoreboard for Sweden   

119 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%8.1 7.3 6.6 5.8 5.7 5.5 5.1 4.8 4.4 4.0 Net international investment position% of GDP-35%-7.9 -7.2 -5.6 -8.5 -15.7 -16.0 -2.3 -1.2 5.0 1.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-2.2 -8.5 -3.3 3.2 10.3 5.1 -3.7 -8.2 -9.1 -5.4 Export market share - % of world exports5 year % change-6%-6.8 -15.9 -12.8 -12.2 -19.5 -17.2 -9.6 -9.3 -7.4 -4.3 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.8 15.9 8.3 5.6 4.0 8.6 6.9 2.5 2.5 3.7 House price index (2015=100), deflated 1 year % change6%-2.0 0.8 6.4 0.8 0.7 4.7 8.3 12.1 7.6 4.6 Private sector credit flow, consolidated% of GDP14%18.9 5.9 5.3 6.9 2.5 4.5 4.9 7.4 7.5 13.1 Private sector debt, consolidated% of GDP133%189.1 201.6 189.1 191.3 193.1 195.4 194.7 188.3 188.2 194.4 General government gross debt% of GDP60%37.7 41.3 38.6 37.8 38.1 40.7 45.5 44.2 42.4 40.8 Unemployment rate3 year average10%6.5 6.9 7.7 8.2 8.1 7.9 8.0 7.8 7.4 7.0 Total financial sector liabilities, non-consolidated1 year % change16.5%12.0 3.5 2.7 2.8 5.5 9.1 13.0 2.4 9.3 6.8 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.1b0.1 0.0 0.6 1.4 2.0 1.6 1.4 1.0 1.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.3 0.1 0.8 0.7 0.4 -0.2 -0.1 0.0 -0.1 -0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-2.4 3.5 5.6 2.6 -1.3 -1.2 0.1 -3.3 -4.7 -5.1 SwedenExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: 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 volume exports of goods and services) 
 
 
 
 
 
 
 
Table 4.28: The MIP scoreboard for United Kingdom 

120 

Thresholds2008200920102011201220132014201520162017Current account balance, % of GDP 3 year average-4%/6%-3.6 -3.8 -3.7 -3.0 -3.0 -3.6 -4.6 -5.0 -5.0 -4.6 Net international investment position% of GDP-35%9.7 -15.7 -7.6 -11.3 -28.4 -18.0 -22.1 -20.1 -2.4 -8.6 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-11.5 -19.9 -20.4 -7.8 6.0 3.4 10.1 10.8 0.2 -10.7 Export market share - % of world exports5 year % change-6%-22.5 -19.6 -23.6 -25.7 -21.0 -12.0 -9.6 2.0 1.0 -1.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)10.0 11.0 8.7 6.7 3.0 3.3 3.4 2.4 3.0 5.4 House price index (2015=100), deflated 1 year % change6%-8.2 -9.7 4.0 -5.0 -1.7 0.3 6.0 5.4 5.4 2.4 Private sector credit flow, consolidated% of GDP14%12.8 -3.9 -0.8 1.6 1.7 7.0 6.7 3.3 11.5 8.4 Private sector debt, consolidated% of GDP133%189.6 190.9 184.1 178.5 178.4 172.8 166.0 164.8 170.0 169.0 General government gross debt% of GDP60%49.7 63.7 75.2 80.8 84.1 85.2 87.0 87.9 87.9 87.4 Unemployment rate3 year average10%5.4 6.2 7.0 7.8 7.9 7.8 7.2 6.3 5.4 4.8 Total financial sector liabilities, non-consolidated1 year % change16.5%46.7 -17.0 7.3 10.4 -3.5 -7.7 4.8 -8.5 11.7 -1.6 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.4b0.0 -0.1b-0.3b0.4 1.0 1.2 0.8 0.9 0.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.4b0.7 1.2 1.3 0.8 0.2 -0.5 -1.1 -1.4 -1.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp2.2 5.2 5.6 6.3 2.1 0.8 -4.3 -6.6 -7.7 -4.9 United KingdomExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags: 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 volume exports of goods and services) 
 
 
 
 
 
 
 
 
Chapter 5: Tables by Member State - Auxiliary indicators used in the economic reading of the MIP scoreboard 

Table 5.1: Auxiliary indicators for Belgium 

121 

Belgium2008200920102011201220132014201520162017Real GDP (1 year % change) 0.8 -2.3 2.7 1.8 0.2 0.2 1.3 1.7 1.5 1.7 Gross fixed capital formation (% of GDP)24.0 22.6 21.8 22.6 22.6 22.2 23.0 23.1 23.3 23.5 Gross domestic expenditure on R&D (% of GDP)1.9 2.0 2.1 2.2 2.3 2.3 2.4 2.5 2.5p:Current plus capital account (net lending-borrowing) (% of GDP)-1.5 -1.3 1.5 -1.2 0.5 -0.4 -1.1 -1.0 -0.5 0.8 Net international investment position excluding non-defaultable instruments (% of GDP) 54.7 61.5 70.0 67.7 65.2 62.0 52.1 52.5 52.3 45.0 Foreign direct investment in the reporting economy, flows (% of GDP)38.4 17.0 22.9 30.3 1.3 -5.4 -4.4 -5.4 9.6 -7.8 Foreign direct investment in the reporting economy, stocks (% of GDP)192.0 208.2 223.2 236.2 236.2 220.3 228.5 228.8 221.1 199.9 Net trade balance of energy products (% of GDP)-5.3 -3.2 -3.7 -4.6 -5.0 -4.5 -3.8 -2.7 -2.2 -2.5 Real effective exchange rate - Euro Area trading partners (3 year % change)1.2 0.6 1.9 1.3 1.9 0.6 -0.1 0.2 2.1 2.8 Export performance against advanced economies (5 year % change)-0.9 -1.3 -4.2 0.8 -5.4 -6.8 -7.6 -10.9 -5.0 -0.8 Terms of trade (5 year % change)-4.7 -0.8 -1.7 -2.2 -2.5 0.4 -2.4 0.0 1.8 1.0 Export market share in volume (1 year % change)-1.3 0.6 -2.4 -0.4 -2.8 -2.9 1.5 0.6 5.4 -0.3 Labour productivity (1 year % change)-1.0 -2.1 2.1 0.4 -0.2 0.5 0.8 0.8 0.2 0.3 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::4.3e3.8e3.2e2.7pUnit labour cost performance relative to EA (10 year % change)1.7 0.0 1.1 0.7 2.3 4.3 5.0 4.0 1.4 1.4 House price index (2015=100) - nominal (3 year % change)23.5 12.0 7.2 6.8 9.7 7.6 2.9 2.3p3.8p8.2 Residential construction (% of GDP)6.5 6.1 6.1 5.8 5.9 5.7 5.9 5.8 5.9 5.9 Household debt, consolidated (incl. NPISH, % of GDP)49.5 51.9 52.7 54.4 54.9 55.8 57.9 58.8 59.2 60.1 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)30.5e22.2e20.1e21.7e17.4e15.7e15.1e14.7e14.2e13.2pFlags: e: Estimated. p: Provisional. 1) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domestic and foreign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
Table 5.1 (continued): Auxiliary indicators for Belgium 

122 

20082009201020112012201320142015201620171 year % change1.8 -0.2 0.6 1.4 0.4 -0.3 0.4 0.9 1.3 1.4 %67.1 66.9 67.7 66.7 66.9 67.5 67.7 67.6 67.6 68.0b%3.3 3.5 4.0 3.5 3.4 3.9 4.3 4.4 4.0 3.5b%18.0 21.9 22.4 18.7 19.8 23.7 23.2 22.1 20.1 19.3b%10.1 11.1 10.9 11.8b12.3 12.7 12.0 12.2 9.9 9.3b3 year change in pp-2.9 -0.1b-0.3 1.7b1.2 1.8 0.2b-0.1 -2.8 -2.7b%20.8 20.2 20.8 21.0 21.6 20.8 21.2 21.1 20.7 20.3 3 year change in pp-1.8 -1.3 -0.8 0.2 1.4 0.0 0.2 -0.5 -0.1 -0.9 %14.7 14.6 14.6 15.3 15.3 15.1 15.5 14.9 15.5 15.9 3 year change in pp-0.1 -0.1 -0.6 0.6 0.7 0.5 0.2 -0.4 0.4 0.4 %5.6 5.2 5.9 5.7 6.3 5.1 5.9 5.8 5.5 5.1 3 year change in pp-0.9 -1.2 0.2 0.1 1.1 -0.8 0.2 -0.5 0.4 -0.8 %11.7 12.3 12.7 13.8 13.9 14.0 14.6 14.9 14.6 13.5 3 year change in pp-3.4 -2.0 -1.1 2.1 1.6 1.3 0.8 1.0 0.6 -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) Labour Force Survey indicators, 2017: revision in the survey methodology      (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 

123 

Bulgaria2008200920102011201220132014201520162017Real GDP (1 year % change) 6.0 -3.6 1.3 1.9 0.0 0.5 1.8 3.5 3.9 3.8 Gross fixed capital formation (% of GDP)33.0 27.9 22.2 20.9 21.3 21.2 21.1 21.0 18.6 18.5 Gross domestic expenditure on R&D (% of GDP)0.5 0.5 0.6 0.5 0.6 0.6 0.8 1.0 0.8 0.8pCurrent plus capital account (net lending-borrowing) (% of GDP)-21.2 -7.0 -0.9 1.5 0.4 2.4 3.5 3.1 4.8 7.7 Net international investment position excluding non-defaultable instruments (% of GDP) -10.6 -8.0 -8.6 -1.9 4.3 7.4 10.9 20.7 29.3 33.1 Foreign direct investment in the reporting economy, flows (% of GDP)17.9 7.5 3.6 3.7 3.3 3.6 1.9 5.2 2.9 3.8 Foreign direct investment in the reporting economy, stocks (% of GDP)87.5 94.4 90.3 87.8 90.1 89.3 93.4 93.6 90.6 88.4 Net trade balance of energy products (% of GDP)-8.0 -5.0 -5.7 -6.3 -6.9 -6.2 -5.6 -3.8 -2.4 -4.2 Real effective exchange rate - Euro Area trading partners (3 year % change)19.5 16.0 11.7 3.9 1.9 -0.4 -3.0 -4.0 -4.6 -3.0 Export performance against advanced economies (5 year % change)50.9 29.2 16.8 21.3 10.9 7.0 12.7 13.1 5.1 14.0 Terms of trade (5 year % change)13.0 12.0 14.0 11.5 5.9 4.2 3.0 3.5 3.0 5.7 Export market share in volume (1 year % change)-0.5 -1.7 -1.7 5.5 -1.1 5.8 -0.6 2.8 5.9 0.5 Labour productivity (1 year % change)3.6 -1.9 5.4 4.2 2.6p0.9p1.5p3.1p3.4p2.0pGross non-performing loans of domestic and foreign entities  (% of gross loans)::::::16.0e14.5e12.8e10.2pUnit labour cost performance relative to EA (10 year % change)38.5 34.7 40.1 34.3 42.0 52.4 56.1 54.7 53.8 50.9 House price index (2015=100) - nominal (3 year % change)84.8p28.2p-10.6p-32.4p-16.7p-9.3 -2.7 2.0b11.6 19.5 Residential construction (% of GDP)5.8 4.7 2.7 2.2 1.7 1.7 1.6 1.4 2.7 2.9 Household debt, consolidated (incl. NPISH, % of GDP)25.5 26.8 26.0 23.8 23.2 23.2 23.1 21.7 20.9 20.4 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)8.8e7.5e7.4e7.4e7.6e7.8e7.9e7.7e7.7e7.7pFlags: b: Break in series. e: Estimated. p: Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.2 (continued): Auxiliary indicators for Bulgaria 

124 

20082009201020112012201320142015201620171 year % change2.4 -1.7 -3.9 -2.2 -2.5p-0.4p0.4p0.4p0.5p1.8p%67.8 67.2 66.7b65.9b67.1 68.4 69.0 69.3 68.7 71.3 %2.9 3.0 4.7b6.3b6.8 7.4 6.9 5.6 4.5 3.4 %11.9 15.1 21.9d25.0 28.1 28.4 23.8 21.6 17.2 12.9 %17.4b19.5 21.0b21.8 21.5 21.6 20.2 19.3 18.2 15.3 3 year change in pp-7.7b-2.7b1.9b4.4b2.0 0.6b-1.6 -2.2 -3.4 -4.9 %44.8b46.2 49.2 49.1 49.3 48.0 40.1b41.3 40.4b38.9 3 year change in pp:-15.1 -11.5 4.3b3.1 -1.2 -9.0b-8.0 -7.6b-1.2b%21.4 21.8 20.7 22.2 21.2 21.0 21.8 22.0 22.9b23.4 3 year change in pp7.4 3.4 -1.3 0.8 -0.6 0.3 -0.4 0.8 1.9b1.6 %41.2 41.9 45.7 43.6 44.1 43.0 33.1 34.2 31.9b30.0 3 year change in pp:-15.8 -11.9 2.4 2.2 -2.7 -10.5 -9.9 -11.1b-3.1 %8.1b6.9 8.0 11.0 12.5 13.0 12.1 11.6 11.9b11.1 3 year change in pp:-7.8 -8.0 2.9b5.6 5.0 1.1 -0.9 -1.1b-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. d: Definition differs. p: Provisional.       (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 Czechia 

125 

Czechia2008200920102011201220132014201520162017Real GDP (1 year % change) 2.7 -4.8 2.3 1.8 -0.8 -0.5 2.7 5.3 2.5 4.3 Gross fixed capital formation (% of GDP)29.0 27.1 26.9 26.5 25.9 25.1 25.1 26.5 24.9 24.7 Gross domestic expenditure on R&D (% of GDP)1.2 1.3 1.3 1.6 1.8 1.9 2.0 1.9 1.7p1.8pCurrent plus capital account (net lending-borrowing) (% of GDP)-1.2 -1.0 -2.6 -1.8 -0.3 1.5 0.9 2.5 2.7 2.0 Net international investment position excluding non-defaultable instruments (% of GDP) 10.0 8.6 7.5 7.8 9.3 14.9 19.1 20.7 28.2 28.8 Foreign direct investment in the reporting economy, flows (% of GDP)3.7 2.5 4.9 1.9 4.5 3.5 3.9 0.9 5.6 4.3 Foreign direct investment in the reporting economy, stocks (% of GDP)60.3 66.2 70.1 69.6 74.7 77.4 77.3 75.8 78.4 78.3 Net trade balance of energy products (% of GDP)-4.1 -2.7 -3.5 -4.4 -4.7 -4.8 -4.0 -2.4 -2.1 -2.6 Real effective exchange rate - Euro Area trading partners (3 year % change)22.7 10.4 12.7 0.8 5.6 -2.4 -10.1 -7.9 -3.6 5.8 Export performance against advanced economies (5 year % change)70.3 37.9 20.9 17.3 7.0 -3.3 0.1 -1.1 -0.0 3.3 Terms of trade (5 year % change)-3.3 -2.4 -2.1 -1.7 -3.3 -0.9 -1.4 0.9 3.6 3.1 Export market share in volume (1 year % change)1.2 0.2 2.0 2.1 1.2 -3.6 5.0 3.1 2.1 1.4 Labour productivity (1 year % change)0.5 -3.1 3.3 2.1 -1.2 -0.8 2.2 3.8 0.8 2.7 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::::4.0e2.8pUnit labour cost performance relative to EA (10 year % change)14.8 10.7 11.0 7.1 2.9 0.9 -1.9 -2.0 0.0 1.0 House price index (2015=100) - nominal (3 year % change)45.0e29.5e6.6e-5.5 -3.1 -1.4 0.9 6.5p14.2p24.4pResidential construction (% of GDP)4.0 3.8 4.0 3.7 3.7 3.2 3.4 3.6 3.7 3.9 Household debt, consolidated (incl. NPISH, % of GDP)25.8 28.5 29.0 30.0 30.9 31.7 30.5 30.4 31.3 29.7 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)13.6e12.1e11.9e11.8e10.4e10.8e10.0e10.1e10.7e12.4pFlags: e: Estimated. p: Provisional. 1) House price index: e = NSI estimates.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
Table 5.3 (continued): Auxiliary indicators for Czechia 

126 

20082009201020112012201320142015201620171 year % change2.2 -1.8 -1.0 -0.3 0.4 0.3 0.6 1.4 1.6 1.6 %69.7 70.1 70.2 70.5b71.6 72.9 73.5 74.0 75.0 75.9 %2.2 2.0 3.0 2.7b3.0 3.0 2.7 2.4 1.7 1.0 %9.9 16.6 18.3 18.1 19.5 18.9 15.9 12.6 10.5 7.9 %6.7 8.5 8.8 8.3b8.9 9.1b8.1 7.5 7.0 6.3 3 year change in pp-6.6 -0.7b1.9 1.6b0.4 0.3b-0.2b-1.4 -2.1b-1.8 %15.3 14.0 14.4 15.3 15.4 14.6 14.8 14.0 13.3 12.2 3 year change in pp-4.3 -4.0 -1.4 0.0 1.4 0.2 -0.5 -1.4 -1.3 -2.6 %9.0 8.6 9.0 9.8 9.6 8.6 9.7 9.7 9.7 9.1 3 year change in pp-1.4 -1.3 -0.6 0.8 1.0 -0.4 -0.1 0.1 1.1 -0.6 %6.8 6.1 6.2 6.1 6.6 6.6 6.7 5.6 4.8 3.7 3 year change in pp-5.0 -3.5 -1.2 -0.7 0.5 0.4 0.6 -1.0 -1.8 -3.0 %7.2 6.0 6.4 6.6 6.8 6.9 7.6 6.8 6.7 5.5 3 year change in pp-1.7 -2.9 -2.2 -0.6 0.8 0.5 1.0 0.0 -0.2 -2.1 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.       (cid:9)(cid:9)(cid:9)Source: European Commission, EurostatCzechiaEmployment 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   

127 

Denmark2008200920102011201220132014201520162017Real GDP (1 year % change) -0.5 -4.9 1.9 1.3 0.2 0.9 1.6 1.6 2.0 2.3 Gross fixed capital formation (% of GDP)22.9 20.2 18.1 18.2 18.8 19.1 19.2 19.5 20.4 20.5 Gross domestic expenditure on R&D (% of GDP)2.8 3.1 2.9 2.9 3.0 3.0 2.9 3.0p2.9e:Current plus capital account (net lending-borrowing) (% of GDP)2.9 3.4 6.6 6.9 6.3 7.7 8.7 7.9 8.1 8.1 Net international investment position excluding non-defaultable instruments (% of GDP) -28.0 -28.6 -21.3 -12.0 -2.7 -3.6 11.4 10.7 15.7 18.6 Foreign direct investment in the reporting economy, flows (% of GDP)0.5 1.2 -3.6 3.8 -4.9 0.2 2.0 0.6 2.5 0.6 Foreign direct investment in the reporting economy, stocks (% of GDP)44.6 46.8 43.5 43.9 43.6 41.8 49.8 50.1 56.3 54.3 Net trade balance of energy products (% of GDP)1.6 1.0 0.9 0.7 0.8 0.3 0.0 0.0 0.0 -0.1 Real effective exchange rate - Euro Area trading partners (3 year % change)-0.7 0.4 1.7 1.5 0.7 -1.3 -1.4 -1.3 -0.2 -0.5 Export performance against advanced economies (5 year % change)6.8 7.2 -3.3 -5.9 -7.9 -11.9 -10.2 -7.5 -6.9 -4.0 Terms of trade (5 year % change)3.3 2.7 3.3 2.0 3.1 2.4 3.7 1.1 2.3 2.9 Export market share in volume (1 year % change)0.9 0.8 -9.8 0.1 -1.9 -2.2 -0.6 -0.7 0.6 -0.9 Labour productivity (1 year % change)-1.7 -1.8 4.3 1.4 1.0 1.0 0.7 0.2 0.4 0.7 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::5.1e3.9e3.3e2.5pUnit labour cost performance relative to EA (10 year % change)11.5 10.6 11.8 8.4 5.6 4.8 5.3 5.2 3.9 -0.2 House price index (2015=100) - nominal (3 year % change)20.8 -14.3 -14.2 -11.0 -1.7 -0.6 4.9 15.3 16.8 17.7 Residential construction (% of GDP)5.4 4.2 3.7 4.3 4.1 3.7 3.9 4.1 4.5 4.6 Household debt, consolidated (incl. NPISH, % of GDP)130.7 142.5 138.3 138.4 136.3 133.3 131.5 129.5 130.4 128.0 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)23.9e22.2e21.8e21.1e20.3e18.4e18.4e16.7e16.7e16.4pFlags: e: Estimated. p: Provisional. 1) House price index: e = NSI estimates. 2) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.4 (continued): Auxiliary indicators for Denmark 

128 

20082009201020112012201320142015201620171 year % change1.2 -3.2 -2.3 0.0 -0.7 0.0 0.9 1.4 1.6 1.6 %80.7 80.2 79.4 79.3 78.6 78.1 78.1 78.5 80.0b78.8b%0.5 0.6 1.5 1.8 2.1 1.8 1.7 1.7 1.4b1.3b%8.0 11.8 13.9 14.2 14.1 13.0 12.6 10.8 12.0 11.0 %4.3 5.4 6.0 6.3 6.6 6.0 5.8 6.2 5.8b7.0b3 year change in pp0.0 1.8 1.7b2.0 1.2 0.0 -0.5 -0.4 -0.2b1.2b%16.3 17.6 18.3 17.6b17.5 18.3 17.9 17.7 16.8 17.2 3 year change in pp-0.9 0.9 1.5 1.3b-0.1 0.0 0.3b0.2 -1.5 -0.7 %11.8 13.1 13.3 12.1 12.0 11.9 12.1 12.2 11.9 12.4 3 year change in pp0.0 1.4 1.6 0.3 -1.1 -1.4 0.0 0.2 0.0 0.3 %2.0 2.3 2.7 2.3 2.7 3.6 3.2 3.7 2.6 3.1 3 year change in pp-1.2 -0.8 -0.6 0.3 0.4 0.9 0.9 1.0 -1.0 -0.1 %8.5 8.8 10.6 10.5 10.2 11.9 12.2 11.6 10.7 10.0 3 year change in pp-1.6 -0.8 0.5 2.0 1.4 1.3 1.7 1.4 -1.2 -2.2 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. 1) Labour Force Survey indicators, 2017: improvement in the data collection and introduction of CAWI technique.      (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   

129 

Germany2008200920102011201220132014201520162017Real GDP (1 year % change) 1.1 -5.6 4.1 3.7 0.5 0.5 2.2 1.7 2.2 2.2 Gross fixed capital formation (% of GDP)20.3 19.2 19.4 20.3 20.1 19.7 20.0 19.9 20.1 20.3 Gross domestic expenditure on R&D (% of GDP)2.6 2.7 2.7 2.8 2.9 2.8 2.9 2.9 2.9e3.0eCurrent plus capital account (net lending-borrowing) (% of GDP)5.6 5.7 5.7 6.1 7.0 6.7 7.6 8.9 8.6 7.9 Net international investment position excluding non-defaultable instruments (% of GDP) 15.3 20.9 20.7 15.5 22.0 29.4 31.6 34.4 37.5 41.5 Foreign direct investment in the reporting economy, flows (% of GDP)0.8 1.6 2.5 2.6 1.8 1.8 0.5 1.6 1.6 2.1 Foreign direct investment in the reporting economy, stocks (% of GDP)31.9 34.2 35.1 35.8 39.8 41.0 41.2 41.9 42.0 42.1 Net trade balance of energy products (% of GDP)-3.4 -2.5 -2.9 -3.5 -3.6 -3.4 -2.8 -2.0 -1.5 -1.8 Real effective exchange rate - Euro Area trading partners (3 year % change)-1.3 -1.1 -1.5 -1.0 -1.3 -0.8 -0.1 0.5 0.4 0.3 Export performance against advanced economies (5 year % change)6.3 1.2 -0.2 -0.8 -6.6 -6.1 -2.8 -1.5 -0.3 1.7 Terms of trade (5 year % change)-4.6 -0.4 -1.0 -2.1 -2.5 0.3 -2.8 2.1 6.8 5.9 Export market share in volume (1 year % change)-1.1 -4.3 1.8 1.2 -0.3 -2.1 1.0 2.4 0.1 -0.7 Labour productivity (1 year % change)-0.2 -5.7 3.8 2.3 -0.7 -0.1 1.3 0.8 0.9 0.7 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::3.9e3.0e2.6e1.8pUnit labour cost performance relative to EA (10 year % change)-18.7 -16.5 -16.2 -13.8 -10.8 -8.6 -5.7 -1.1 3.8 8.4 House price index (2015=100) - nominal (3 year % change)-1.2 0.0 3.3 5.5 8.2 10.4 10.0 11.4 14.5 16.0 Residential construction (% of GDP)5.0 5.1 5.2 5.6 5.8 5.8 5.9 5.7 5.9 6.1 Household debt, consolidated (incl. NPISH, % of GDP)59.4 61.7 59.0 56.9 56.3 55.4 54.0 53.2 52.9 52.7 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)34.2e26.6e25.8e25.7e23.5e20.3e19.2e18.6e18.4e14.1pFlags: e: Estimated. p: Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.5 (continued): Auxiliary indicators for Germany 

130 

20082009201020112012201320142015201620171 year % change1.3 0.1 0.3 1.4 1.2 0.6 0.8 0.9 1.3 1.4 %75.9 76.3 76.7b77.3b77.2 77.6 77.7 77.6 77.9 78.2 %3.9 3.5 3.3b2.8b2.4 2.3 2.2 2.0 1.7 1.6 %10.4 11.1 9.8 8.5 8.0 7.8 7.7 7.2 7.1 6.8 %8.4b8.8 8.3b7.5b7.1 6.3 6.4 6.2 6.7 6.3 3 year change in pp-2.5b-0.8 -0.6b-0.9b-1.7 -2.0b-1.1b-0.9 0.4 -0.1 %20.1 20.0 19.7 19.9 19.6 20.3 20.6 20.0 19.7 19.0 3 year change in pp1.7 -0.2 -0.9 -0.2 -0.4 0.6 0.7 0.4 -0.6 -1.6 %15.2 15.5 15.6 15.8 16.1 16.1 16.7 16.7 16.5 16.1 3 year change in pp3.0 3.0 0.4 0.6 0.6 0.5 0.9 0.6 0.4 -0.6 %5.5 5.4 4.5 5.3 4.9 5.4 5.0 4.4 3.7 3.4 3 year change in pp0.9 0.3 -0.3 -0.2 -0.5 0.9 -0.3 -0.5 -1.7 -1.6 %11.7 10.9 11.2 11.2 9.9 9.9 10.0 9.8 9.6 8.7 3 year change in pp-0.3 -2.7 -0.3 -0.5 -1.0 -1.3 -1.2 -0.1 -0.3 -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, 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 

131 

Estonia2008200920102011201220132014201520162017Real GDP (1 year % change) -5.4 -14.7 2.3 7.6 4.3 1.9 2.9 1.9 3.5 4.9 Gross fixed capital formation (% of GDP)31.2 22.7 21.2 26.2 28.6 27.7 25.6 23.6 23.0 24.4 Gross domestic expenditure on R&D (% of GDP)1.3 1.4 1.6 2.3 2.1 1.7 1.5 1.5 1.3 :Current plus capital account (net lending-borrowing) (% of GDP)-7.5 6.0 5.3 5.4 1.4 3.1 1.9 3.9 3.0 4.2 Net international investment position excluding non-defaultable instruments (% of GDP) -35.1 -32.1 -18.3 -2.0 3.2 7.3 12.8 16.7 18.7 21.5 Foreign direct investment in the reporting economy, flows (% of GDP)8.0 9.1 13.2 4.9 7.8 4.4 6.6 -3.2 3.9 5.9 Foreign direct investment in the reporting economy, stocks (% of GDP)77.1 89.1 95.0 89.9 94.2 98.8 103.7 97.9 98.8 95.5 Net trade balance of energy products (% of GDP)-4.1 -2.3 -1.5 -0.4 -1.3 -2.2 -2.1 -1.5 -1.0 -0.6 Real effective exchange rate - Euro Area trading partners (3 year % change)12.1 8.9 6.4 2.8 5.2 5.4 3.1 1.6 0.4 2.5 Export performance against advanced economies (5 year % change)52.4 26.1 18.3 35.7 19.6 17.6 28.6 8.6 -3.5 -2.0 Terms of trade (5 year % change)7.4 7.0 3.0 1.0 -1.4 -0.8 0.3 2.9 2.8 4.2 Export market share in volume (1 year % change)-2.1 -10.3 11.3 17.1 1.7 -1.0 -0.9 -4.4 3.0 -1.8 Labour productivity (1 year % change)-5.2 -5.0 7.6 1.0 2.6 0.7 2.1 -0.9 3.2 2.1 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::3.2e2.2e1.7e1.9pUnit labour cost performance relative to EA (10 year % change)60.6 53.3 47.7 42.9 42.5 40.8 39.1 42.3 36.8 22.5 House price index (2015=100) - nominal (3 year % change)63.2 -31.5 -40.0 -28.0 23.0 28.8 35.0 34.5 27.3 18.1 Residential construction (% of GDP)4.3 3.1 2.7 2.7 2.9 3.4 3.9 4.1 4.5 4.3 Household debt, consolidated (incl. NPISH, % of GDP)50.4 57.0 53.4 45.6 41.9 40.0 38.9 39.7 40.1 39.4 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)12.2e14.2e12.4e8.1e7.1e6.8e6.6e7.7e7.7e6.8pFlags: e: Estimated. p: Provisional. 1) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.6 (continued): Auxiliary indicators for Estonia 

132 

20082009201020112012201320142015201620171 year % change-0.2 -10.2 -4.9 6.5 1.6 1.2 0.8 2.9 0.3 2.7 %74.2 74.0 73.9 74.7 74.8 75.1 75.2 76.7 77.5 78.8 %1.7 3.7 7.6 7.1 5.5 3.8 3.3 2.4 2.1 1.9 %12.0d27.4 32.9 22.4 20.9 18.7 15.0 13.1 13.4 12.1 %8.7 14.5b14.0 11.6 12.2 11.3 11.7 10.8 9.1 9.4 3 year change in pp-1.9 5.7b5.1 2.9 -2.3b-2.7 0.1 -1.4 -2.2 -2.3 %21.8 23.4 21.7 23.1 23.4 23.5 26.0b24.2 24.4 23.4 3 year change in pp-4.1 1.4 -0.3 1.3 0.0 1.8 2.9b0.8 0.9 -2.6b%19.5 19.7 15.8 17.5 17.5 18.6 21.8 21.6 21.7 21.0 3 year change in pp1.2 1.4 -3.6 -2.0 -2.2 2.8 4.3 4.1 3.1 -0.8 %4.9 6.2 9.0 8.7 9.4 7.6 6.2 4.5 4.7 4.1 3 year change in pp-7.5 -0.8 3.4 3.8 3.2 -1.4 -2.5 -4.9 -2.9 -2.1 %5.3 5.6 9.0 10.0 9.1 8.4 7.6b6.6 5.8 5.8 3 year change in pp-4.2 -1.5 2.8 4.7 3.5 -0.6 -2.4b-2.5 -2.6 -1.8bPeople 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. d: Definition differs.       (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 

133 

Ireland2008200920102011201220132014201520162017Real GDP (1 year % change) -4.4 -5.0 1.9 3.7 0.2 1.3 8.8 25.1 5.0 7.2 Gross fixed capital formation (% of GDP)24.8 21.1 17.5 16.8 19.7 18.7 20.7 24.2 35.7 23.5 Gross domestic expenditure on R&D (% of GDP)1.4 1.6e1.6e1.6e1.6e1.6e1.5e1.2 1.2e1.1 Current plus capital account (net lending-borrowing) (% of GDP)-6.8 -5.6 -1.9 -2.2 -2.6 1.0 -2.4 3.9 -5.7 -1.1 Net international investment position excluding non-defaultable instruments (% of GDP) -173.9 -217.2 -237.3 -238.8 -256.6 -309.8 -351.3 -243.6 -246.4 -259.1 Foreign direct investment in the reporting economy, flows (% of GDP)7.9 22.8 16.8 15.2 25.0 29.6 38.3 82.1 34.4 0.3 Foreign direct investment in the reporting economy, stocks (% of GDP)209.0 267.4 294.0 305.8 337.7 347.3 387.5 498.3 511.9 435.6 Net trade balance of energy products (% of GDP)-3.1 -2.3 -2.8 -3.3 -3.0 -3.2 -2.7 -1.5 -1.1 -1.2 Real effective exchange rate - Euro Area trading partners (3 year % change)1.1 -1.6 -5.3 -6.6 -5.1 -3.1 -1.8 -1.4 -0.9 -2.1 Export performance against advanced economies (5 year % change)-7.3 10.5 1.4 -2.0 -6.2 -4.2 -8.9 39.4 55.3 57.0 Terms of trade (5 year % change)-3.2 0.8 -4.2 -1.4 -3.6 -4.7 -5.3 2.5 0.1 -0.1 Export market share in volume (1 year % change)-6.8 14.6 -6.7 -3.9 -4.0 -0.9 10.9 36.4 2.2 2.5 Labour productivity (1 year % change)-3.8 3.1 6.7 5.8b0.7 -1.6 6.0 20.9 1.2 4.2 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::21.6e14.9e13.1e9.9pUnit labour cost performance relative to EA (10 year % change)22.9 12.1 0.8 -5.8 -6.5 -9.5 -15.4 -32.1 -34.6 -39.2 House price index (2015=100) - nominal (3 year % change)14.9 -19.1 -34.9p-42.0p-37.9p-27.3p2.1p31.5p39.6p32.8pResidential construction (% of GDP)8.2 4.7 3.0 2.0 1.4 1.6 1.7 1.4 1.7 2.0 Household debt, consolidated (incl. NPISH, % of GDP)108.0 116.2 110.2 104.5 99.1 93.7 81.5 57.1 52.2 47.7 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)29.9e20.9e21.1e17.7e15.8e15.0e9.1e7.8e7.4e6.6pFlags: b: Break in series. e: Estimated. p: Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.7 (continued): Auxiliary indicators for Ireland 

134 

20082009201020112012201320142015201620171 year % change-0.6 -7.8 -4.5 -1.9b-0.5 3.0 2.7 3.5 3.8 2.9 %74.8 73.0 71.6 71.2 71.1 71.8 71.8 72.1 72.7 72.7 %1.7 3.5 6.9 8.8 9.2 8.0 6.6 5.3 4.2 3.0 %13.5 24.5 28.1 29.6 30.8 26.7 23.4 20.2 16.8 14.4 %13.9 18.3 19.4 19.2 19.2 16.4 15.3 14.3 12.6 10.9b3 year change in pp3.0 8.2b9.9b5.3 0.9 -3.0 -3.9 -4.9 -3.8 -4.4b%23.7 25.7 27.3 29.4 30.3 29.9 27.7 26.0 24.2 :3 year change in pp-1.3 2.4 4.2 5.7 4.6 2.6 -1.7 -4.3 -5.7 :%15.5 15.0 15.2 15.2 16.6 15.7 16.4 16.3 16.6 :3 year change in pp-4.2 -3.5 -2.0 -0.3 1.6 0.5 1.2 -0.3 0.9 :%5.5 6.1 5.7 7.8 9.8 9.9 8.4 7.5 6.5 :3 year change in pp0.4 1.3 1.2 2.3 3.7 4.2 0.6 -2.3 -3.4 :%13.7 20.0 22.9 24.2 23.4 23.9 21.0 19.2 18.2 :3 year change in pp-1.0 7.1 8.6 10.5 3.4 1.0 -3.2 -4.2 -5.7 :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. 1)Officialtransmissiondeadlinefor2017dataonPeopleatriskofpovertyandsocialexclusionis30November2018whiledatawereextractedon24October2018.2)LabourForceSurveyindicators,2017:introductionoftheQuarterlyNationalHouseholdSurveyasnewsource.2)Employment indicators from Labour Force Survey, 2017: the Labour Force Survey (LFS) replaced the Quarterly National Household Survey (QNHS) as data source.      (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 

135 

Greece2008200920102011201220132014201520162017Real GDP (1 year % change) -0.3 -4.3 -5.5 -9.1p-7.3p-3.2p0.7p-0.4p-0.2p1.5pGross fixed capital formation (% of GDP)23.8 20.8 17.6 15.3p12.6p12.2p11.5p11.6p12.1p12.9pGross domestic expenditure on R&D (% of GDP)0.7be0.6e0.6e0.7 0.7 0.8 0.8 1.0 1.0 1.1pCurrent plus capital account (net lending-borrowing) (% of GDP)-13.4 -11.5 -10.5 -8.7 -2.6 -0.4 -0.2 0.9 -0.7 -0.5 Net international investment position excluding non-defaultable instruments (% of GDP) -73.0 -83.7 -99.9 -97.4 -122.3 -129.8 -128.6 -127.8 -127.2 -126.4 Foreign direct investment in the reporting economy, flows (% of GDP)1.4 0.8 0.2 0.4 0.7 1.2 1.1 0.7 1.4 1.8 Foreign direct investment in the reporting economy, stocks (% of GDP)12.0 13.8 13.8 12.2 11.5 12.0 11.8 14.8 15.8 17.6 Net trade balance of energy products (% of GDP)-3.8 -2.2 -3.0 -3.6p-4.0p-3.7p-3.4p-2.1p-1.6p-1.8pReal effective exchange rate - Euro Area trading partners (3 year % change)2.8 2.5 5.0 4.5 2.0 -3.5 -5.6 -5.2 -3.2 -1.7 Export performance against advanced economies (5 year % change)16.7 -2.8 -7.2 -8.1 -16.3 -20.4 -13.0 -20.1 -21.2 -14.1 Terms of trade (5 year % change)-1.7 -2.3 -1.0 -1.5p-3.5p-0.8p1.5p6.0p6.1p7.4pExport market share in volume (1 year % change)0.5 -8.5 -7.8 -7.1p-1.9p-2.3p4.0p0.2p-4.0p1.5pLabour productivity (1 year % change)-1.6 -3.8 -3.0 -2.4p-1.1p-0.6p-0.2p-1.2p-0.7p0.0pGross non-performing loans of domestic and foreign entities  (% of gross loans)::::::39.7e46.8e46.3e45.0pUnit labour cost performance relative to EA (10 year % change)20.9 20.8 22.6 20.1 8.1 -0.9 -4.2 -12.3 -11.9 -12.9 House price index (2015=100) - nominal (3 year % change)22.0e3.7e-6.7e-13.2e-20.4e-25.5e-27.1e-21.6e-14.2e-8.3eResidential construction (% of GDP)8.1 6.5 5.0 4.6p3.1p2.2p1.0p0.7p0.6p0.6pHousehold debt, consolidated (incl. NPISH, % of GDP)49.8 51.8 61.1 63.7 64.6 65.1 63.1 62.2 60.7 57.0 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)18.5e14.6e15.4e:26.6e14.0e12.8e11.0e10.1e8.8pFlags: b: Break in series. e: Estimated. p: Provisional. 1) House price index: e = source NCB.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.8 (continued): Auxiliary indicators for Greece 

136 

20082009201020112012201320142015201620171 year % change1.3 -0.6 -2.6 -6.9p-6.3p-2.6p0.9p0.7p0.5p1.5p%66.7 67.4b67.8 67.3 67.5 67.5 67.4 67.8 68.2 68.3 %3.7 3.9b5.7 8.8 14.5 18.5 19.5 18.2 17.0 15.6 %21.9 25.7 33.0 44.7 55.3 58.3 52.4 49.8 47.3 43.6 %11.4b12.4b14.8 17.4 20.2 20.4 19.1 17.2 15.8 15.3 3 year change in pp-4.5b0.4b3.5 6.0b7.8b5.6 1.7 -3.0 -4.6 -3.8 %28.1 27.6 27.7 31.0 34.6 35.7 36.0 35.7 35.6 34.8 3 year change in pp-1.3 -1.7 -0.6 2.9 7.0 8.0 5.0 1.1 -0.1 -1.2 %20.1 19.7 20.1 21.4 23.1 23.1 22.1 21.4 21.2 20.2 3 year change in pp0.5 -0.8 -0.2 1.3 3.4 3.0 0.7 -1.7 -1.9 -1.9 %11.2 11.0 11.6 15.2 19.5 20.3 21.5 22.2 22.4 21.1 3 year change in pp-1.6 -0.5 0.1 4.0 8.5 8.7 6.3 2.7 2.1 -0.4 %7.5 6.6 7.6 12.0 14.2 18.2 17.2 16.8 17.2 15.6 3 year change in pp-0.1 -1.5 -0.5 4.5 7.6 10.6 5.2 2.6 -1.0 -1.6 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, 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 

137 

Spain2008200920102011201220132014201520162017Real GDP (1 year % change) 1.1 -3.6 0.0 -1.0 -2.9 -1.7 1.4 3.6 3.2p3.0pGross fixed capital formation (% of GDP)29.2 24.3 23.0 21.5 19.8 18.8 19.3 19.9 19.9p20.5pGross domestic expenditure on R&D (% of GDP)1.3 1.4 1.4 1.3 1.3 1.3 1.2 1.2 1.2 :Current plus capital account (net lending-borrowing) (% of GDP)-8.8 -4.0 -3.5 -2.8 0.3 2.2 1.6 1.8 2.5 2.1 Net international investment position excluding non-defaultable instruments (% of GDP) -64.1 -72.9 -73.8 -78.3 -75.2 -71.1 -71.4 -66.1 -62.4 -58.1 Foreign direct investment in the reporting economy, flows (% of GDP)4.8 0.9 2.8 2.2 1.8 3.8 2.4 2.1 3.2 0.6 Foreign direct investment in the reporting economy, stocks (% of GDP)45.1 49.0 50.5 51.6 53.3 56.4 58.8 58.8 60.2 58.6 Net trade balance of energy products (% of GDP)-3.6 -2.3 -2.9 -3.7 -3.8 -3.4 -2.9 -2.0 -1.5p-1.8pReal effective exchange rate - Euro Area trading partners (3 year % change)3.1 1.1 0.9 0.4 0.8 0.4 -0.6 -1.3 -2.2 -1.0 Export performance against advanced economies (5 year % change)-4.6 -1.3 -4.4 -0.2 -8.4 -4.8 -6.4 -3.0 -0.7 4.8 Terms of trade (5 year % change)-1.2 4.3 1.0 -2.9 -5.4 -2.0 -7.5 -4.4 -0.3p0.8pExport market share in volume (1 year % change)-3.8 -1.0 -3.3 0.3 -2.0 0.5 0.6 1.3 3.0p-0.1pLabour productivity (1 year % change)0.9 2.9 1.8 1.7 1.1 0.9 0.4 0.8 0.6p0.4pGross non-performing loans of domestic and foreign entities  (% of gross loans)::::::8.1e6.3e5.7e4.4pUnit labour cost performance relative to EA (10 year % change)18.3 13.9 11.4 8.5 2.9 0.5 -2.7 -3.6 -7.5 -11.1 House price index (2015=100) - nominal (3 year % change)22.7e1.1 -9.6 -15.3 -22.7 -28.5 -22.3 -5.6 8.7 15.1 Residential construction (% of GDP)10.4 8.1 6.9 5.7 4.9 4.1 4.5 4.4 4.8p5.2pHousehold debt, consolidated (incl. NPISH, % of GDP)82.1 84.2 83.7 82.0 80.9 77.3 73.0 67.9 64.5 61.1 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)18.0e16.4e17.2e17.4e17.9e14.9e14.0e13.7e13.2e13.5pFlags: e: Estimated. p: Provisional. 1) House price index: e = Eurostat estimates. 2) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.9 (continued): Auxiliary indicators for Spain 

138 

20082009201020112012201320142015201620171 year % change0.2 -6.3 -1.7 -2.7 -4.0 -2.6 1.0 2.8 2.6p2.6p%72.7 73.1 73.5 73.9 74.3 74.3 74.2 74.3 74.2 73.9 %2.0 4.3 7.3 8.9 11.0 13.0 12.9 11.4 9.5 7.7 %24.5 37.7 41.5 46.2 52.9 55.5 53.2 48.3 44.4 38.6 %14.3 18.1 17.8 18.2 18.6 18.6 17.1b15.6 14.6 13.3 3 year change in pp1.3b6.3b5.8 3.9 0.5 0.8 -1.1b-3.0 -4.0 -3.8b%23.8b24.7 26.1 26.7 27.2 27.3 29.2 28.6 27.9 26.6 3 year change in pp-0.5b0.7 2.8 2.9b2.5 1.2 2.5 1.4 0.6 -2.6 %19.8 20.4 20.7 20.6 20.8 20.4 22.2 22.1 22.3 21.6 3 year change in pp-0.3 0.1 1.0 0.8 0.4 -0.3 1.6 1.3 1.9 -0.6 %3.6 4.5 4.9 4.5 5.8 6.2 7.1 6.4 5.8 5.1 3 year change in pp-0.5 0.4 1.4 0.9 1.3 1.3 2.6 0.6 -0.4 -2.0 %6.6 7.6 10.8 13.4 14.3 15.7 17.1 15.4 14.9 12.8 3 year change in pp-0.3 1.2 4.0 6.8 6.7 4.9 3.7 1.1 -0.8 -4.3 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. 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 

139 

France2008200920102011201220132014201520162017Real GDP (1 year % change) 0.3 -2.9 1.9 2.2 0.3 0.6 1.0 1.1 1.2p2.2pGross fixed capital formation (% of GDP)23.6 22.1 22.1 22.4 22.5 22.0 21.8 21.5 21.9p22.5pGross domestic expenditure on R&D (% of GDP)2.1 2.2 2.2b2.2 2.2 2.2 2.2 2.3p2.3p:Current plus capital account (net lending-borrowing) (% of GDP)-0.7 -0.5 -0.6 -0.9 -1.1 -0.5 -1.0 -0.4 -0.7 -0.5 Net international investment position excluding non-defaultable instruments (% of GDP) -20.3 -24.2 -24.5 -23.1 -27.0 -26.9 -31.0 -29.7 -31.4 -33.5 Foreign direct investment in the reporting economy, flows (% of GDP)2.3 0.7 1.5 1.5 1.2 1.1 0.2 1.8 1.8 1.9 Foreign direct investment in the reporting economy, stocks (% of GDP)34.2 37.0 38.1 40.2 40.5 41.3 42.1 43.9 45.5 46.5 Net trade balance of energy products (% of GDP)-2.8 -2.0 -2.4 -3.0 -3.3 -3.1 -2.5 -1.8 -1.4p-1.7pReal effective exchange rate - Euro Area trading partners (3 year % change)-1.3 -1.2 -0.2 -0.4 -0.5 -1.3 -0.7 -0.4 0.2 -0.5 Export performance against advanced economies (5 year % change)-9.3 -6.3 -10.4 -7.7 -8.5 -8.1 -8.8 -2.6 -6.0 -1.9 Terms of trade (5 year % change)-3.3 0.2 0.2 -0.7 -2.1 -0.4 -1.7 2.8 6.1p5.0pExport market share in volume (1 year % change)-2.6 -0.9 -4.0 -0.7 -0.3 -1.7 -0.4 1.7 -0.7p-0.8pLabour productivity (1 year % change)-0.3 -1.8 1.8 1.4 0.0 0.4 0.4 0.9 0.5p1.1pGross non-performing loans of domestic and foreign entities  (% of gross loans)::::::4.2e4.0e3.6e3.1pUnit labour cost performance relative to EA (10 year % change)1.0 0.3 2.6 2.8 2.5 2.8 3.0 1.6 -0.1 -0.2 House price index (2015=100) - nominal (3 year % change)19.6 0.0 -0.9 4.0 10.3 3.2 -4.0 -4.9 -2.1 2.6 Residential construction (% of GDP)6.8 6.3 6.3 6.4 6.2 6.1 6.0 5.9 6.0p6.2pHousehold debt, consolidated (incl. NPISH, % of GDP)48.6 52.6 53.7 54.8 55.1 55.6 55.6 56.1 57.2 58.6 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)26.7e20.7e20.1e21.1e20.1e18.1e18.9e17.3e16.0e15.2pFlags: b: Break in series. e: Estimated. p: Provisional. 1) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.10 (continued): Auxiliary indicators for France 

140 

20082009201020112012201320142015201620171 year % change0.5 -1.1 0.1 0.8 0.3 0.2 0.5 0.2 0.7p1.1p%69.4e69.8e69.8e69.7e70.3e70.7e71.0 71.3 71.4 71.5 %2.9e3.3e3.9e4.0e4.1e4.4e4.5 4.6 4.6 4.2 %19.0 23.6 23.3 22.6 24.4 24.9 24.2 24.7 24.6 22.3 %10.5 12.7 12.7 12.3 12.5 11.2b11.2b12.0 11.9 11.5 3 year change in pp-0.7 1.4 2.0 1.8 -0.2 -1.5b-1.1b-0.5 0.7b0.3b%18.5b18.5 19.2 19.3 19.1 18.1 18.5 17.7 18.2 17.1 3 year change in pp-0.4b-0.3 0.2 0.8b0.6 -1.1 -0.8 -1.4 0.1 -1.4 %12.5 12.9 13.3 14.0 14.1 13.7 13.3 13.6 13.6 13.3 3 year change in pp-0.5 -0.3 0.2 1.5 1.2 0.4 -0.7 -0.5 -0.1 0.0 %5.4 5.6 5.8 5.2 5.3 4.9 4.8 4.5 4.4 4.1 3 year change in pp0.1 0.6 1.1 -0.2 -0.3 -0.9 -0.4 -0.8 -0.5 -0.7 %8.8 8.4 9.9 9.4 8.4 8.1 9.6 8.6 8.4 8.1 3 year change in pp0.1 -0.7 0.3 0.6 0.0 -1.8 0.2 0.2 0.3 -1.5 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 (DROM).      (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   

141 

Croatia2008200920102011201220132014201520162017Real GDP (1 year % change) 2.0 -7.3 -1.5 -0.3 -2.3 -0.5 -0.1 2.4 3.5 2.9 Gross fixed capital formation (% of GDP)28.1 25.2 21.2 20.2 19.6 19.7 19.2 19.6 20.0 20.1 Gross domestic expenditure on R&D (% of GDP)0.9 0.8 0.7 0.8 0.8 0.8 0.8 0.8 0.9b:Current plus capital account (net lending-borrowing) (% of GDP)-9.0 -5.1 -1.1 -0.7 -0.1 1.0 2.3 5.1 3.9 4.5 Net international investment position excluding non-defaultable instruments (% of GDP) -39.7 -46.7 -49.9 -51.9 -49.5 -48.6 -43.7 -36.2 -25.5 -17.3 Foreign direct investment in the reporting economy, flows (% of GDP)7.6 5.0 2.3 2.3 2.6 1.7 5.3 0.4 3.8 3.6 Foreign direct investment in the reporting economy, stocks (% of GDP)42.2 50.8 53.9 49.7 51.7 50.4 56.0 54.3 57.2 58.7 Net trade balance of energy products (% of GDP)-5.1 -3.5 -3.8 -5.4 -5.6 -5.1 -4.0 -3.4 -2.7 -2.9 Real effective exchange rate - Euro Area trading partners (3 year % change)6.3 4.1 4.3 -2.2 -2.6 -2.9 -1.4 -1.1 -1.0 0.7 Export performance against advanced economies (5 year % change)4.9 2.8 -6.0 -8.4 -15.0 -17.8 -14.9 -5.1 5.0 14.6 Terms of trade (5 year % change)6.7 5.2 5.6 4.4 2.6 1.3 0.6 0.5 1.7 2.5 Export market share in volume (1 year % change)-2.2 -4.1 -6.5 -4.9 -3.2 -0.7 2.3 6.5 3.4 1.1 Labour productivity (1 year % change)-0.1d-6.6d2.4d3.7d1.4d2.2d-2.7d1.1d3.2d0.7dGross non-performing loans of domestic and foreign entities  (% of gross loans)::::::13.6e13.0e10.7e8.8pUnit labour cost performance relative to EA (10 year % change)15.9 10.6 7.9 12.1 5.0 -0.7 -4.3 -7.1 -11.2 -15.0 House price index (2015=100) - nominal (3 year % change)35.7e9.5e-8.4e-10.9 -7.6 -5.3 -6.9 -8.2 -3.6 1.7 Residential construction (% of GDP)::::::::::Household debt, consolidated (incl. NPISH, % of GDP)39.0 39.9 41.9 41.4 41.1 40.2 40.0 38.4 35.1 34.1 Consolidated banking leverage, domestic and foreign entities (total assets/total equity):::::7.5e7.2e8.0e7.2e7.4pFlags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1) Labour productivity, d: employment data use national concept instead of domestic concept. 2) House price index: e = source NCB. 3) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.11 (continued): Auxiliary indicators for Croatia 

142 

20082009201020112012201320142015201620171 year % change2.1d-0.7d-3.8d-3.9d-3.6d-2.6d2.7d1.2d0.3d2.2d%65.8 65.6 65.1 64.1 63.9 63.7 66.1 66.9 65.6 66.4 %5.3 5.1 6.6 8.4 10.2 11.0 10.1 10.2 6.6 4.6 %23.6 25.4 32.3 36.6 42.2 49.9 44.9 42.3 31.8 27.2 %11.6 13.4 15.7 16.2 16.6 19.6 19.3 18.1 16.9 15.4 3 year change in pp-5.1b-0.8b2.8 4.6 3.2 3.9 3.1 1.5 -2.7 -3.9 %::31.1 32.6 32.6 29.9 29.3 29.1 27.9 26.4 3 year change in pp:::::-1.2 -3.3 -3.5 -2.0 -2.9 %::20.6 20.9 20.4 19.5 19.4 20.0 19.5 20.0 3 year change in pp:::::-1.1 -1.5 -0.4 0.0 0.6 %::14.3 15.2 15.9 14.7 13.9 13.7 12.5 10.3 3 year change in pp:::::0.4 -1.3 -2.2 -2.2 -3.6 %::13.9 15.9 16.8 14.8 14.7 14.4 13.0 12.2 3 year change in pp:::::0.9 -1.2 -2.4 -1.8 -2.5 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. d: Definition differs. 1) Unit labour cost, 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 

143 

Italy2008200920102011201220132014201520162017Real GDP (1 year % change) -1.1 -5.5 1.7 0.6 -2.8 -1.7 0.1 0.9 1.1 1.6 Gross fixed capital formation (% of GDP)21.2 20.0 19.9 19.7 18.4 17.2 16.7 16.9 17.2 17.6 Gross domestic expenditure on R&D (% of GDP)1.2 1.2 1.2 1.2 1.3 1.3 1.3e1.3 1.3p:Current plus capital account (net lending-borrowing) (% of GDP)-2.8 -1.9 -3.4 -2.9 -0.1 0.9 2.1 1.7 2.3 2.7 Net international investment position excluding non-defaultable instruments (% of GDP) -21.8 -20.9 -22.4 -22.4 -23.8 -23.3 -21.1 -17.4 -10.1 -3.9 Foreign direct investment in the reporting economy, flows (% of GDP)-0.5 0.9 0.4 1.5 0.0 0.9 0.8 0.7 1.1 0.5 Foreign direct investment in the reporting economy, stocks (% of GDP)18.8 22.1 20.3 21.5 23.2 23.8 25.1 25.6 26.0 26.1 Net trade balance of energy products (% of GDP)-3.6 -2.6 -3.2 -3.7 -3.8 -3.3 -2.6 -2.0 -1.6 -1.9 Real effective exchange rate - Euro Area trading partners (3 year % change)0.0 0.4 0.7 0.9 1.4 1.0 0.4 -0.5 -0.7 -0.6 Export performance against advanced economies (5 year % change)-6.4 -10.9 -12.4 -11.9 -16.7 -14.5 -9.6 -8.3 -5.5 -2.6 Terms of trade (5 year % change)-8.0 -1.3 -2.1 -1.7 -4.2 -0.6 -4.1 2.3 7.9 7.6 Export market share in volume (1 year % change)-6.1 -8.1 -0.9 -1.9 -0.8 -3.1 -1.0 1.5 -0.1 0.4 Labour productivity (1 year % change)-1.3 -3.9 2.3 0.3 -2.5 0.1 0.0 0.3 -0.2 0.4 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::16.5e16.5e15.0e11.2pUnit labour cost performance relative to EA (10 year % change)11.3 11.4 13.7 12.7 10.3 6.6 3.8 3.4 1.7 -0.3 House price index (2015=100) - nominal (3 year % change)13.9e7.2e2.9be1.6e-0.5e-7.6 -13.1 -14.3 -8.3p-4.6 Residential construction (% of GDP)5.8 5.6 5.6 5.3 5.0 4.8 4.5 4.4 4.3 4.4 Household debt, consolidated (incl. NPISH, % of GDP)39.1 42.5 43.6 43.8 44.0 43.5 42.7 41.9 41.5 41.3 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)14.3e12.8e12.7e14.9e14.4e15.0e14.0e13.1e14.2e12.2pFlags: b: Break in series. e: Estimated. p: Provisional. 1) House price index: e = source NCB. 2) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.12 (continued): Auxiliary indicators for Italy 

144 

20082009201020112012201320142015201620171 year % change0.2 -1.7 -0.6 0.3 -0.3 -1.8 0.1 0.7 1.3 1.2 %62.9 62.3 62.0 62.1 63.5 63.4 63.9 64.0 64.9 65.4 %3.0 3.4 4.0 4.3 5.6 6.9 7.7 6.9 6.7 6.5 %21.2 25.3 27.9 29.2 35.3 40.0 42.7 40.3 37.8 34.7 %16.6 17.6 19.0 19.7 21.0 22.2 22.1 21.4 19.9 20.1 3 year change in pp-0.5 0.8b2.9 3.1 3.4 3.2 2.4 0.4 -2.3 -2.0 %25.5 24.9 25.0 28.1 29.9 28.5 28.3 28.7 30.0 28.9 3 year change in pp-0.1 -1.0 -1.0 2.6 5.0 3.5 0.2 -1.2 1.5 0.6 %18.9 18.4 18.7 19.8 19.5 19.3 19.4 19.9 20.6 20.3 3 year change in pp-0.3 -0.9 -0.8 0.9 1.1 0.6 -0.4 0.4 1.3 0.9 %7.5 7.3 7.4 11.1 14.5 12.3 11.6 11.5 12.1 10.1 3 year change in pp0.7 0.9 0.4 3.6 7.2 4.9 0.5 -3.0 -0.2 -1.5 %10.4 9.2 10.6 10.5 10.6 11.3 12.1 11.7 12.8 11.8 3 year change in pp-0.6 -2.1 0.4 0.1 1.4 0.7 1.6 1.1 1.5 -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, 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 

145 

Cyprus2008200920102011201220132014201520162017Real GDP (1 year % change) 3.6 -2.0 1.3 0.4 -2.9 -5.8 -1.3 2.0 4.8p4.2pGross fixed capital formation (% of GDP)27.2 23.4 22.3 18.9 15.1 14.1 11.7 13.0 17.7p20.9pGross domestic expenditure on R&D (% of GDP)0.4 0.4 0.5 0.5 0.4 0.5 0.5 0.5 0.5p:Current plus capital account (net lending-borrowing) (% of GDP)-15.3 -7.3 -11.0 -3.7 -5.8 -3.5 -3.5 -1.2 -4.9 -7.9 Net international investment position excluding non-defaultable instruments (% of GDP) -44.4 -53.1 -111.5 -110.0 -102.3 -110.7 -107.9 -136.0 -110.8 -95.1 Foreign direct investment in the reporting economy, flows (% of GDP)8.7 10.8 53.3 -43.5 30.5 -25.0 -2.2 41.3 40.2 50.0 Foreign direct investment in the reporting economy, stocks (% of GDP)701.6 711.8 773.4 700.1 866.4 863.8 849.3 1049.7 1069.2 1017.8 Net trade balance of energy products (% of GDP)-6.4 -4.6 -6.0 -6.8 -7.5 -6.3 -5.9 -4.1 -3.4p-4.2pReal effective exchange rate - Euro Area trading partners (3 year % change)-0.8 -1.3 0.4 0.7 2.0 1.0 -0.1 -2.4 -3.3 -3.7 Export performance against advanced economies (5 year % change)-16.9e-1.5e-9.0e-3.5e-12.8e-9.2 -19.0 -11.3 -5.7 2.1 Terms of trade (5 year % change)-3.4 -4.0 -1.3 -0.7 -0.6 -0.6 -1.2 -0.8 0.4p0.9pExport market share in volume (1 year % change)-3.6 5.3 -8.2 -1.4 -5.8 -1.7 0.6 2.3 2.4p0.7pLabour productivity (1 year % change)0.1 -2.0 0.9 0.4 0.3 0.1 0.5 0.5 0.2p0.4pGross non-performing loans of domestic and foreign entities  (% of gross loans)::::::38.6e36.3e35.4e30.7pUnit labour cost performance relative to EA (10 year % change)13.5 16.3 15.8 17.3 17.2 4.8 -0.4 -6.4 -8.6 -8.9 House price index (2015=100) - nominal (3 year % change)32.1 10.3 -6.9p-13.3p-10.1p-8.5p-8.7p-7.1bp-2.9p1.0pResidential construction (% of GDP)12.1 9.8 8.1 6.2 4.9 4.1 4.1 4.2 4.9p5.7pHousehold debt, consolidated (incl. NPISH, % of GDP)102.6 112.5 118.3 121.3 126.8 127.7 130.0 127.7 118.8 107.5 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)16.9e17.2e15.2e19.9e26.0e16.2e10.3e10.7e10.7e12.1pFlags: b: Break in series. e: Estimated. p: Provisional. 1) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.13 (continued): Auxiliary indicators for Cyprus 

146 

20082009201020112012201320142015201620171 year % change3.5 0.0 0.5 0.0 -3.2 -5.9 -1.8 1.5 4.6 3.9p%73.6 73.0b73.6 73.5 73.5 73.6 74.3 73.9 73.4 73.9 %0.5 0.6b1.3 1.6 3.6 6.1 7.7 6.8 5.8 4.5 %9.0 13.8 16.6 22.4 27.7 38.9 36.0 32.8 29.1 24.7 %9.7 9.9b11.7 14.6 16.0 18.7 17.0 15.3 16.0 16.1 3 year change in pp-9.8 -0.8b2.7 4.9 6.1b7.0 2.4 -0.7 -2.7 -0.9 %23.3b23.5 24.6 24.6 27.1 27.8 27.4 28.9 27.7 25.2 3 year change in pp-2.0b-1.9 -0.6 1.3b3.6 3.2 2.8 1.8 -0.1 -2.2 %15.9 15.8 15.6 14.8 14.7 15.3 14.4 16.2 16.1 15.7 3 year change in pp-0.2 0.2 0.1 -1.1 -1.1 -0.3 -0.4 1.5 0.8 1.3 %9.1 9.5 11.2 11.7 15.0 16.1 15.3 15.4 13.6 11.5 3 year change in pp-3.1 -3.1 -2.1 2.6 5.5 4.9 3.6 0.4 -2.5 -3.8 %4.5b4.0 4.9 4.9 6.5 7.9 9.7 10.9 10.6 9.4 3 year change in pp0.1b0.2 1.2 0.4b2.5 3.0 4.8 4.4 2.7 -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. 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 

147 

Latvia2008200920102011201220132014201520162017Real GDP (1 year % change) -3.5 -14.4 -3.9 6.4 4.0 2.4 1.9 3.0 2.1 4.6 Gross fixed capital formation (% of GDP)32.1 22.5 19.4 22.2 25.4 23.2 22.6 22.1 19.6 20.9 Gross domestic expenditure on R&D (% of GDP)0.6 0.5 0.6 0.7 0.7 0.6 0.7 0.6 0.4 0.5pCurrent plus capital account (net lending-borrowing) (% of GDP)-11.0 10.2 4.0 -1.1 -0.6 -0.2 1.5 2.3 2.6 1.5 Net international investment position excluding non-defaultable instruments (% of GDP) -44.8 -44.9 -43.6 -31.1 -24.8 -20.9 -17.9 -12.9 -9.8 -7.6 Foreign direct investment in the reporting economy, flows (% of GDP)3.7 -0.2 1.9 5.3 3.8 3.3 3.0 2.9 0.9 3.8 Foreign direct investment in the reporting economy, stocks (% of GDP)36.0 46.3 49.7 50.1 49.7 54.1 56.5 59.8 58.0 59.0 Net trade balance of energy products (% of GDP)-5.5 -4.4 -4.9 -5.5 -6.1 -5.6 -4.2 -3.2 -2.3 -3.0 Real effective exchange rate - Euro Area trading partners (3 year % change)21.5 18.9 8.3 0.3 -0.7 0.2 -1.3 -2.0 -0.1 0.9 Export performance against advanced economies (5 year % change)96.7 65.5 31.6 38.2 20.8 13.5 18.5 13.7 6.2 2.9 Terms of trade (5 year % change)3.9 1.5 2.6 6.3 -1.3 1.0 -0.4 0.0 -0.2 3.4 Export market share in volume (1 year % change)-0.6 -2.9 0.7 4.9 6.7 -2.7 2.3 0.2 2.2 0.9 Labour productivity (1 year % change)-2.7 -0.1 2.9 4.8 2.5 0.1 3.3 1.5 2.4 4.7 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::9.7e6.5e6.3e5.6pUnit labour cost performance relative to EA (10 year % change)92.2 60.3 48.9 47.5 55.9 58.6 56.3 44.6 30.6 7.7 House price index (2015=100) - nominal (3 year % change)113.8e-13.6 -43.6 -38.4 1.2 21.5 16.6 9.5 11.1 14.0 Residential construction (% of GDP)6.1 2.4 1.6 1.9 2.2 2.2 2.5 2.5 2.1 1.9 Household debt, consolidated (incl. NPISH, % of GDP)42.8 50.4 49.8 40.4 33.2 29.6 26.5 24.5 23.6 22.2 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)12.2e13.2e12.7e10.7e10.2e9.9e10.2e9.5e9.9e8.9pFlags: e: Estimated. p: Provisional. 1) House price index: e = Eurostat estimates.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.14 (continued): Auxiliary indicators for Latvia 

148 

20082009201020112012201320142015201620171 year % change-0.8 -14.3 -6.7 1.5 1.4 2.3 -1.3 1.4 -0.3 0.0 %74.2 73.5 73.0 72.8 74.4 74.0 74.6 75.7 76.3 77.0 %1.9 4.5 8.8 8.8 7.8 5.7 4.6 4.5 4.0 3.3 %13.6 33.3 36.2 31.0 28.5 23.2 19.6 16.3 17.3 17.0 %11.8 17.5 17.8 16.0 14.9 13.0 12.0 10.5 11.2 10.3 3 year change in pp1.2 6.0b5.9 4.2 -2.6 -4.8 -4.0 -4.4 -1.8 -1.7 %34.2b37.9 38.2 40.1 36.2 35.1 32.7 30.9 28.5 28.2 3 year change in pp-12.1b-4.3 3.1 5.9b-1.7 -3.1 -7.4 -5.3 -6.6 -4.5 %25.9 26.4 20.9 19.0 19.2 19.4 21.2 22.5 21.8 22.1 3 year change in pp6.5 2.9 -0.3 -6.9 -7.2 -1.5 2.2 3.3 2.4 0.9 %19.3 22.1 27.6 31.0 25.6 24.0 19.2 16.4 12.8 11.3 3 year change in pp-20.0 -9.2 3.6 11.7 3.5 -3.6 -11.8 -9.2 -11.2 -7.9 %5.4 7.4 12.6 12.6 11.7 10.0 9.6 7.8 7.2 7.8 3 year change in pp-2.9 0.3 6.4 7.2 4.3 -2.6 -3.0 -3.9 -2.8 -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: 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 

149 

Lithuania2008200920102011201220132014201520162017Real GDP (1 year % change) 2.6 -14.8 1.6 6.0 3.8 3.5 3.5 2.0 2.4 4.1 Gross fixed capital formation (% of GDP)26.0 17.9 16.9 18.5 17.4 18.5 18.9 19.6 19.3 19.2 Gross domestic expenditure on R&D (% of GDP)0.8 0.8 0.8 0.9 0.9 1.0 1.0 1.0 0.9 0.9 Current plus capital account (net lending-borrowing) (% of GDP)-11.7 5.7 2.5 -1.3 1.5 4.0 5.8 0.7 0.7 2.1 Net international investment position excluding non-defaultable instruments (% of GDP) -28.1 -30.2 -25.3 -22.2 -23.0 -17.3 -16.3 -14.0 -13.6 -7.9 Foreign direct investment in the reporting economy, flows (% of GDP)4.0 0.1 2.3 3.5 1.4 1.5 1.1 2.3 2.2 2.4 Foreign direct investment in the reporting economy, stocks (% of GDP)29.9 37.0 38.6 37.9 38.2 38.7 38.5 39.8 41.1 40.9 Net trade balance of energy products (% of GDP)-5.7 -4.1 -7.1 -7.6 -7.5 -6.1 -4.7 -3.6 -2.6 -3.0 Real effective exchange rate - Euro Area trading partners (3 year % change)10.4 12.9 9.9 4.7 1.7 1.4 -0.1 -1.4 -0.7 1.5 Export performance against advanced economies (5 year % change)59.2e41.9 28.7 41.4 48.2 27.9 42.6 16.2 2.4 4.8 Terms of trade (5 year % change)11.5 -1.3 -2.2 -0.2 -1.9 -5.6 -0.9 1.5 4.6 5.9 Export market share in volume (1 year % change)10.5 -2.8 6.2 8.3 9.3 6.1 -0.4 -2.1 1.8 8.3 Labour productivity (1 year % change)4.0 -7.7 7.3 5.5 2.0 2.1 1.5 0.7 0.4 4.7 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::6.8e5.6e4.0e3.2pUnit labour cost performance relative to EA (10 year % change)5.3 0.2 4.6 10.1 9.5 12.9 11.8 11.7 6.4 8.9 House price index (2015=100) - nominal (3 year % change)76.7e-3.5 -29.3 -30.8 -1.5 7.7 7.5 11.7 16.3 19.0 Residential construction (% of GDP)3.4 3.3 2.1 2.0 1.9 2.2 2.5 2.8 3.0 2.7 Household debt, consolidated (incl. NPISH, % of GDP)28.4 32.6 29.6 25.8 23.7 22.4 21.5 22.2 22.8 22.4 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)14.4e17.8e14.2e11.3e10.2e9.6e9.7e9.0e11.6e10.7pFlags: e: Estimated. p: Provisional. 1) House price index: e = Eurostat estimates.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.15 (continued): Auxiliary indicators for Lithuania  

150 

20082009201020112012201320142015201620171 year % change-1.3 -7.7 -5.3 0.5 1.8 1.3 2.0 1.3 2.0 -0.5 %68.4 69.6 70.2 71.4 71.8 72.4 73.7 74.1 75.5 75.9 %1.3u3.3 7.4 8.0 6.6 5.1 4.8 3.9 3.0 2.7 %13.3 29.6 35.7 32.6 26.7 21.9 19.3 16.3 14.5 13.3 %8.8 12.1 13.2 11.8 11.2 11.1 9.9 9.2 9.4 9.1 3 year change in pp0.0 3.8b6.1 3.0 -0.9 -2.1 -1.9 -2.0 -1.7 -0.8 %28.3 29.6 34.0 33.1 32.5 30.8 27.3 29.3 30.1 29.6 3 year change in pp-12.7 -6.3 5.3 4.8 2.9 -3.2 -5.8 -3.2 -0.7 2.3 %20.9 20.3 20.5 19.2 18.6 20.6 19.1 22.2 21.9 22.9 3 year change in pp0.4 0.3 1.4 -1.7 -1.7 0.1 -0.1 3.6 1.3 3.8 %12.5 15.6 19.9 19.0 19.8 16.0 13.6 13.9 13.5 12.4 3 year change in pp-20.1 -9.7 3.3 6.5 4.2 -3.9 -5.4 -5.9 -2.5 -1.2 %6.1 7.2 9.5 12.7 11.4 11.0 8.8 9.2 10.2 9.7 3 year change in pp-3.5 -1.1 3.1 6.6 4.2 1.5 -3.9 -2.2 -0.8 0.9 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, 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 

151 

Luxembourg2008200920102011201220132014201520162017Real GDP (1 year % change) -1.3 -4.4 4.9 2.5 -0.4 3.7 4.3 3.9 2.4 1.5 Gross fixed capital formation (% of GDP)20.3 18.4 17.6 19.2 20.2 19.5 20.0 18.1 18.6 18.9 Gross domestic expenditure on R&D (% of GDP)1.6 1.7 1.5 1.5 1.3b1.3 1.3 1.3 1.2p:Current plus capital account (net lending-borrowing) (% of GDP)6.9 6.1 6.2 5.6 4.7 4.2 3.8 4.5 4.7 4.5 Net international investment position excluding non-defaultable instruments (% of GDP) -1091.5 -1591.8 -1850.5 -1942.7 -2442.4 -2674.5 -3325.7 -3828.3 -3775.9 -3947.3 Foreign direct investment in the reporting economy, flows (% of GDP)182.4 410.6 423.7 679.9 981.1 1020.5 268.0 1336.6 329.2 -264.1 Foreign direct investment in the reporting economy, stocks (% of GDP)2968.2 3505.4 3640.8 4666.0 5989.7 6471.4 7931.5 9411.7 9479.1 8263.3 Net trade balance of energy products (% of GDP)-6.6 -4.1 -4.8 -5.9 -6.3 -5.4 -4.4 -3.1 -2.5 -2.8 Real effective exchange rate - Euro Area trading partners (3 year % change)2.1 0.9 1.7 2.0 2.8 1.7 0.8 0.3 -0.2 0.1 Export performance against advanced economies (5 year % change)28.8 21.3 11.7 5.0 0.6 15.1 22.6 30.2 22.7 19.5 Terms of trade (5 year % change)1.8 3.6 4.6 3.0 4.2 2.8 2.0 -0.1 0.3 -0.1 Export market share in volume (1 year % change)2.5 -1.6 -2.3 -3.1 -0.3 1.5 12.7 2.4 1.6 -7.2 Labour productivity (1 year % change)-5.8 -5.4 3.0 -0.4 -2.7 1.8 1.7 1.3 -0.6 -1.8 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::1.4e1.1e0.8e0.7pUnit labour cost performance relative to EA (10 year % change)17.9 21.2 19.0 15.5 17.2 17.0 12.7 12.9 10.6 14.9 House price index (2015=100) - nominal (3 year % change)22.9e9.3e7.7 8.0 13.9 13.4 14.2 15.5 16.6 18.0 Residential construction (% of GDP)4.4 3.5 2.9 3.0 3.2 3.6 3.8 3.1 3.3 3.2 Household debt, consolidated (incl. NPISH, % of GDP)53.9 58.2 57.9 57.7 61.0 60.2 60.6 61.3 64.1 65.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)25.8e18.5e16.8e17.7e15.1e13.9e13.4e13.4e13.4e13.2pFlags: b: Break in series. e: Estimated. p: Provisional. 1) House price index: e =  NSI&NCB estimates. 2) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.16 (continued): Auxiliary indicators for Luxembourg 

152 

20082009201020112012201320142015201620171 year % change4.8 1.0 1.8 3.0 2.4 1.8 2.6 2.6 3.0 3.4 %66.8 68.7b68.2 67.9 69.4 69.9 70.8 70.9b70.0 70.2 %1.6 1.2b1.3 1.4 1.6 1.8 1.6 1.9b2.2 2.1 %17.3 16.5 15.8 16.4 18.0 16.9 22.3 16.6 19.1 15.4 %6.2 5.8b5.1 4.7 5.9 5.0 6.3 6.2b5.4 5.9 3 year change in pp0.7 -0.9b-0.6b-1.5 0.1b-0.1 1.6 0.3b0.4 -0.4 %15.5 17.8 17.1 16.8 18.4 19.0 19.0 18.5 19.8b21.5 3 year change in pp-1.8 1.3 1.2 1.3 0.6 1.9 2.2 0.1 0.8b2.5 %13.4 14.9 14.5 13.6 15.1 15.9 16.4 15.3 16.5b18.7 3 year change in pp-0.3 0.8 1.0 0.2 0.2 1.4 2.8 0.2 0.6b2.3 %0.7 1.1 0.5 1.2 1.3 1.8 1.4 2.0 1.6b1.2 3 year change in pp-1.1 0.0 -0.3 0.5 0.2 1.3 0.2 0.7 -0.2b-0.2 %4.7 6.3 5.5 5.8 6.1 6.6 6.1 5.7 6.6b6.9 3 year change in pp-1.0 1.1 0.5 1.1 -0.2 1.1 0.3 -0.4 0.0b0.8 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. 1) Labour Force Survey indicators, 2015: change in the sampling strategy and data collection technique.       (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  

153 

Hungary2008200920102011201220132014201520162017Real GDP (1 year % change) 0.9 -6.6 0.7 1.7 -1.6 2.1 4.2 3.5 2.3 4.1 Gross fixed capital formation (% of GDP)23.2 22.7 20.2 19.7 19.3 20.9 22.2 22.5 19.6 22.2 Gross domestic expenditure on R&D (% of GDP)1.0 1.1 1.1 1.2 1.3 1.4 1.4 1.4 1.2 1.4 Current plus capital account (net lending-borrowing) (% of GDP)-5.8 0.9 2.1 3.1 4.3 7.3 5.2 7.3 6.1 4.2 Net international investment position excluding non-defaultable instruments (% of GDP) -52.6 -52.0 -49.9 -48.1 -42.5 -35.3 -30.1 -18.6 -11.9 -8.1 Foreign direct investment in the reporting economy, flows (% of GDP)47.6 -2.6 -16.0 9.9 8.1 -2.8 9.5 -4.6 55.9 -9.3 Foreign direct investment in the reporting economy, stocks (% of GDP)218.0 226.9 214.3 236.3 227.1 211.4 217.3 222.5 260.5 211.0 Net trade balance of energy products (% of GDP)-6.2 -4.9 -5.1 -6.0 -6.3 -6.3 -6.2 -4.2 -3.2 -3.8 Real effective exchange rate - Euro Area trading partners (3 year % change)8.4 5.2 0.0 -2.5 4.6 -3.0 -7.0 -7.1 -5.1 0.7 Export performance against advanced economies (5 year % change)39.4 22.4 11.8 6.6 -11.9 -17.3 -11.1 -8.2 -3.2 6.3 Terms of trade (5 year % change)-4.0 -2.6 -0.8 -0.9 -2.2 -0.3 -0.8 -0.2 2.4 3.3 Export market share in volume (1 year % change)3.9 -1.4 -1.4 -0.6 -4.9 0.4 5.4 4.3 2.9 -0.6 Labour productivity (1 year % change)2.9 -4.2 1.8 1.7 -1.8 1.0 -0.6 1.1 -0.7 2.1 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::19.4e15.2e11.9e8.4pUnit labour cost performance relative to EA (10 year % change)58.0 46.9 34.0 23.5 19.9 13.1 8.9 3.4 5.4 6.3 House price index (2015=100) - nominal (3 year % change)::-5.3 -10.7 -9.2 -9.4 -2.2 14.8 33.6 35.8 Residential construction (% of GDP)4.1 4.1 3.1 2.2 2.0 1.8 1.9 2.2 2.4 2.8 Household debt, consolidated (incl. NPISH, % of GDP)36.3 37.5 39.4 37.3 31.5 28.0 25.5 21.3 20.3 18.8 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)15.5e13.4e12.3e13.5e11.5e10.7e10.9e11.2e9.9e9.7pFlags: e: Estimated. p: Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.17 (continued): Auxiliary indicators for Hungary   

154 

20082009201020112012201320142015201620171 year % change-2.0 -2.5 -1.1 0.0 0.2 1.1 4.8 2.4 3.1 2.0 %61.2 61.2 61.9 62.4 63.7 64.7 67.0 68.6 70.1 71.2 %3.6 4.2 5.5 5.2 5.0 4.9 3.7 3.1 2.4 1.7 %19.5d26.4 26.4 26.0 28.2 26.6 20.4 17.3 12.9 10.7 %11.5 13.6 12.6 13.2 14.8 15.5 13.6 11.6b11.0 11.0 3 year change in pp-1.4 1.2b1.1 1.7 1.2 2.9 0.4 -3.2b-4.5 -2.6 %28.2 29.6 29.9 31.5 33.5 34.8 31.8 28.2 26.3 25.6 3 year change in pp-3.9 -1.8 0.5 3.3 3.9 4.9 0.3 -5.3 -8.5 -6.2 %12.4 12.4 12.3 14.1 14.3 15.0 15.0 14.9 14.5 13.4 3 year change in pp-1.1 -3.5 0.0 1.7 1.9 2.7 0.9 0.6 -0.5 -1.6 %17.9 20.3 21.6 23.4 26.3 27.8 24.0 19.4 16.2 14.5 3 year change in pp-5.0 -0.6 1.7 5.5 6.0 6.2 0.6 -6.9 -11.6 -9.5 %12.0 11.3 11.9 12.8 13.5 13.6 12.8 9.4 8.2 6.6 3 year change in pp2.5 -1.8 0.6 0.8 2.2 1.7 0.0 -4.1 -5.4 -6.2 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. d: Definition differs.       (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 

155 

Malta2008200920102011201220132014201520162017Real GDP (1 year % change) 3.3 -2.5 3.5 1.3 2.7 4.6 8.2 9.5 5.2 6.7 Gross fixed capital formation (% of GDP)19.6 18.2 21.4 18.0 18.1 17.5 17.3 25.3 24.4 21.1 Gross domestic expenditure on R&D (% of GDP)0.5 0.5 0.6 0.7 0.8 0.8 0.7 0.8 0.6p0.6 Current plus capital account (net lending-borrowing) (% of GDP)-0.7 -5.4 -2.7 1.0 3.6 4.4 10.5 6.2 7.4 14.3 Net international investment position excluding non-defaultable instruments (% of GDP) 58.5 93.6 224.6 218.1 268.0 225.1 212.5 204.3 208.7 229.6 Foreign direct investment in the reporting economy, flows (% of GDP)164.7 16.8 106.3 82.0 36.1 5.7 2.8 27.9 22.1 27.3 Foreign direct investment in the reporting economy, stocks (% of GDP)1636.5 1698.3 1859.2 2023.8 2051.0 1973.2 1849.6 1724.9 1696.3 1627.0 Net trade balance of energy products (% of GDP)-2.3 -0.1 1.1 -2.8 -12.2 -9.0 -14.9 -8.9 -8.8 -8.9 Real effective exchange rate - Euro Area trading partners (3 year % change)0.6 1.5 3.5 1.8 1.1 0.1 0.7 1.0 2.0 1.4 Export performance against advanced economies (5 year % change)23.4 58.1 49.1 28.4 25.6 6.5 -6.6 -1.2 6.3 6.2 Terms of trade (5 year % change)0.0 1.0 1.6 1.2 0.2 1.0 2.0 1.0 1.5 2.7 Export market share in volume (1 year % change)16.4 9.6 -5.8 -5.6 3.9 -2.9 -0.4 0.8 2.0 -1.5 Labour productivity (1 year % change)0.8 -2.5 1.8 -1.6 0.2 0.8 2.9 5.4 1.0 1.4 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::6.0e5.1e4.1e3.1pUnit labour cost performance relative to EA (10 year % change)4.9 6.7 9.8 9.9 13.5 12.5 7.9 9.4 6.6 4.8 House price index (2015=100) - nominal (3 year % change)61.1 28.6 7.4 -4.6 2.7 1.2 5.2 8.1 14.4 17.5pResidential construction (% of GDP)5.6 4.3 3.4 3.4 3.0 2.6 2.4 2.8 3.6 4.8 Household debt, consolidated (incl. NPISH, % of GDP)54.3 60.0 59.0 59.9 60.4 59.1 56.6 53.0 51.9 50.4 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)12.4e9.5e5.0e5.1e5.0e6.6e11.9e14.1e15.8e13.5pFlags: e: Estimated. p: Provisional. 1) House price index: e = Eurostat estimates.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.18 (continued): Auxiliary indicators for Malta 

156 

20082009201020112012201320142015201620171 year % change2.5 0.0 1.7 2.9 2.5 3.7 5.1 3.9 4.2 5.2 %59.1 59.4 60.4 61.8 63.9 66.3 67.8 68.8 70.6 72.2 %2.6 2.9 3.1 3.0 3.0 2.8 2.7 2.4 1.9 1.6 %12.4 15.2 14.0 14.0 14.8 13.7 12.5 12.6 11.9 11.3 %8.3 9.9 9.5 10.2 10.8 9.9 10.3 10.5 8.8 8.6b3 year change in pp-3.6b-0.4b-2.0 1.9 0.9 0.4 0.1 -0.3 -1.1 -1.7b%20.1 20.3 21.2 22.1 23.1 24.0 23.8 22.4 20.1 19.2 3 year change in pp-0.4 0.8 1.5 2.0 2.8 2.8 1.7 -0.7 -3.9 -4.6 %15.3 14.9 15.5 15.6 15.1 15.7 15.9 16.3 16.5 16.8 3 year change in pp1.0 0.7 0.4 0.3 0.2 0.2 0.3 1.2 0.8 0.9 %4.3 5.0 6.5 6.6 9.2 9.5 10.2 8.1 4.4 3.3 3 year change in pp-1.1 1.1 2.1 2.3 4.2 3.0 3.6 -1.1 -5.1 -6.9 %8.6 9.2 9.2 8.9 9.0 9.0 9.8 9.2 7.3 6.7 3 year change in pp-1.0 -0.5 -0.4 0.3 -0.2 -0.2 0.9 0.2 -1.7 -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.        (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 

157 

Netherlands2008200920102011201220132014201520162017Real GDP (1 year % change) 2.2 -3.7 1.3 1.6 -1.0 -0.1 1.4 2.0 2.2 2.9pGross fixed capital formation (% of GDP)22.1 21.3 19.7 20.1 18.8 18.4 17.6 22.1 20.0 20.5pGross domestic expenditure on R&D (% of GDP)1.6 1.7 1.7 1.9b1.9b2.0 2.0 2.0 2.0p:Current plus capital account (net lending-borrowing) (% of GDP)4.9 5.5 6.5 8.7 8.9 9.9 8.4 5.8 7.9 10.4 Net international investment position excluding non-defaultable instruments (% of GDP) -68.6 -74.9 -78.9 -74.1 -69.6 -66.9 -45.8 -51.6 -44.4 -29.5 Foreign direct investment in the reporting economy, flows (% of GDP)17.5 10.9 14.5 37.1 29.4 37.5 13.0 23.5 20.5 39.4 Foreign direct investment in the reporting economy, stocks (% of GDP)399.8 417.1 431.3 472.5 503.2 534.5 558.1 593.1 604.0 615.5 Net trade balance of energy products (% of GDP)-0.7 -0.7 -1.5 -1.9 -2.6 -1.4 -1.6 -1.1 -0.6 -0.8pReal effective exchange rate - Euro Area trading partners (3 year % change)-2.3 -1.1 -1.0 -0.1 -0.3 1.4 1.3 1.0 -0.4 -0.5 Export performance against advanced economies (5 year % change)4.5 2.6 -0.6 0.1 -2.4 -5.0 -5.4 -5.7 -2.7 -3.3 Terms of trade (5 year % change)-0.5 0.9 -1.2 -2.9 -2.6 -2.0 -3.0 -0.1 2.0 1.7pExport market share in volume (1 year % change)-1.4 1.4 -3.0 -1.9 0.2 -1.3 0.8 4.5 -0.5 0.0pLabour productivity (1 year % change)0.5 -2.8 2.0 0.7 -0.8 1.1 1.5 1.0 1.1p0.7pGross non-performing loans of domestic and foreign entities  (% of gross loans)::::::3.4e2.7e2.4e2.1pUnit labour cost performance relative to EA (10 year % change)7.1 7.2 4.4 3.9 1.8 1.2 0.9 0.3 -0.1 -2.5 House price index (2015=100) - nominal (3 year % change)11.7 2.4 -4.0 -8.0 -10.1 -14.0 -11.6 -1.8 9.7 17.0 Residential construction (% of GDP)6.2 5.6 4.7 4.2 3.5 3.0 3.1 3.5 4.1 4.4pHousehold debt, consolidated (incl. NPISH, % of GDP)109.3 117.2 118.0 117.5 117.4 113.8 111.3 109.5 107.6 104.5pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)31.9e23.2e23.2e24.2e22.3e20.8e18.5e18.0e17.7e16.7pFlags: b: Break in series. e: Estimated. p: Provisional. 1) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.19 (continued): Auxiliary indicators for Netherlands 

158 

20082009201020112012201320142015201620171 year % change1.6 -0.9 -0.7 0.9 -0.2 -1.2 -0.1 1.0 1.1p2.2p%79.3 79.7 78.2b78.1b79.0 79.4 79.0 79.6 79.7 79.7 %0.9 0.8 1.2b1.6b1.9 2.5 2.9 3.0 2.5 1.9 %8.6 10.2 11.1 10.0 11.7 13.2 12.7 11.3 10.8 8.9 %3.4 4.1 4.3b4.3 4.9 5.6b5.5 4.7 4.6 4.0 3 year change in pp-1.9 0.1b0.8b0.9 0.8 1.3b1.2 -0.2 -1.0b-1.5 %14.9 15.1 15.1 15.7 15.0 15.9 16.5 16.4 16.7b17.0 3 year change in pp-1.8 -0.9 -0.6 0.8 -0.1 0.8 0.8 1.4 0.8b0.5 %10.5 11.1 10.3 11.0 10.1 10.4 11.6 11.6 12.7b13.2 3 year change in pp-0.2 1.4 0.1 0.5 -1.0 0.1 0.6 1.5 2.3b1.6 %1.5 1.4 2.2 2.5 2.3 2.5 3.2 2.6 2.6b2.6 3 year change in pp-1.0 -0.9 0.5 1.0 0.9 0.3 0.7 0.3 0.1b-0.6 %8.2 8.5 8.4 8.9 8.9 9.3 10.2 10.2 9.7b9.5 3 year change in pp-1.6 -2.4 -1.3 0.7 0.4 0.9 1.3 1.3 0.4b-0.7 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, 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 

159 

Austria2008200920102011201220132014201520162017Real GDP (1 year % change) 1.5 -3.8 1.8 2.9 0.7 0.0 0.7 1.1 2.0 2.6 Gross fixed capital formation (% of GDP)23.3 22.4 21.6 22.5 22.6 23.0 22.7 22.7 23.2 23.6 Gross domestic expenditure on R&D (% of GDP)2.6e2.6 2.7e2.7 2.9e3.0 3.1e3.1 3.1p3.2pCurrent plus capital account (net lending-borrowing) (% of GDP)4.4 2.6 2.9 1.5 1.3 1.8 2.4 1.2 2.4 1.9 Net international investment position excluding non-defaultable instruments (% of GDP) -11.0 -4.8 -10.3 -14.2 -16.0 -11.7 -11.3 -11.3 -9.6 -4.1 Foreign direct investment in the reporting economy, flows (% of GDP)1.5 3.4 -5.4 5.4 1.3 0.1 0.4 -2.1 -7.5 3.7 Foreign direct investment in the reporting economy, stocks (% of GDP)72.7 81.1 74.8 72.8 74.7 75.2 77.8 75.4 65.1 66.7 Net trade balance of energy products (% of GDP)-3.5 -2.4 -2.9 -3.7 -3.9 -3.5 -3.0 -2.3 -1.9 -2.1 Real effective exchange rate - Euro Area trading partners (3 year % change)-0.7 -0.3 0.1 1.2 1.3 1.6 1.6 2.3 2.4 2.1 Export performance against advanced economies (5 year % change)6.3 1.9 -5.5 -4.5 -12.3 -12.6 -10.1 -8.1 -6.7 -2.3 Terms of trade (5 year % change)-4.0 -1.7 -2.5 -3.1 -3.2 -1.9 -2.7 -0.1 2.4 1.9 Export market share in volume (1 year % change)-0.8 -4.4 0.4 -1.2 -1.7 -3.2 -0.8 0.6 0.5 -0.6 Labour productivity (1 year % change)-0.4 -3.3 1.1 1.3 -0.4 -0.3 -0.3 0.5 0.7 0.8 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::7.5e6.5e5.1e3.5pUnit labour cost performance relative to EA (10 year % change)-5.0 -3.8 -1.6 -0.9 1.6 3.6 5.4 6.4 6.4 5.7 House price index (2015=100) - nominal (3 year % change)10.1e9.9e11.5be17.3e21.1e19.9 16.8 14.2 17.8 19.9 Residential construction (% of GDP)4.4 4.3 4.3 4.4 4.3 4.3 4.3 4.3 4.3 4.4 Household debt, consolidated (incl. NPISH, % of GDP)52.2 53.5 54.6 53.2 52.0 51.2 51.0 50.9 51.4 50.4 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)18.5e15.4e13.8e14.7e13.5e13.4e14.2e13.5e12.5e11.6pFlags: b: Break in series. e: Estimated. p: Provisional. 1) House price index: e = source NCB.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.20 (continued): Auxiliary indicators for Austria 

160 

20082009201020112012201320142015201620171 year % change1.9 -0.5 0.8 1.6 1.0 0.3 1.0 0.6 1.3 1.7 %73.9 74.3 74.4 74.6 75.1 75.5 75.4 75.5 76.2 76.4 %1.0 1.2 1.2 1.2 1.2 1.3 1.5 1.7 1.9 1.8 %8.5 10.7 9.5 8.9 9.4 9.7 10.3 10.6 11.2 9.8 %7.4 8.2 7.4 7.3 6.8 7.3 7.7 7.5 7.7 6.5 3 year change in pp-1.2 0.4b0.0b-0.1 -1.4 -0.1 0.4 0.7 0.4 -1.2 %20.6b19.1 18.9 19.2 18.5 18.8 19.2 18.3 18.0 18.1 3 year change in pp3.2b1.3 2.2 -1.4b-0.6 -0.1 0.0 -0.2 -0.8 -1.1 %15.2 14.5 14.7 14.5 14.4 14.4 14.1 13.9 14.1 14.4 3 year change in pp2.6 1.9 2.7 -0.7 -0.1 -0.3 -0.4 -0.5 -0.3 0.3 %5.9 4.6 4.3 4.0 4.0 4.2 4.0 3.6 3.0 3.7 3 year change in pp2.4 1.0 1.0 -1.9 -0.6 -0.1 0.0 -0.4 -1.2 -0.3 %7.4b7.1 7.8 8.6 7.7 7.8 9.1 8.2 8.1 8.3 3 year change in pp0.1b-1.0 -0.4 1.2b0.6 0.0 0.5 0.5 0.3 -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.       (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 

161 

Poland2008200920102011201220132014201520162017Real GDP (1 year % change) 4.2 2.8 3.6 5.0 1.6 1.4 3.3 3.8 3.1 4.8 Gross fixed capital formation (% of GDP)23.1 21.4 20.3 20.7 19.8 18.8 19.7 20.1 18.0 17.7 Gross domestic expenditure on R&D (% of GDP)0.6 0.7 0.7 0.8 0.9 0.9 0.9 1.0 1.0p1.0 Current plus capital account (net lending-borrowing) (% of GDP)-5.6 -2.3 -3.6 -3.2 -1.5 1.0 0.4 1.8 0.5 1.4 Net international investment position excluding non-defaultable instruments (% of GDP) -20.9 -22.4 -24.5 -25.6 -26.4 -27.1 -26.2 -26.0 -22.9 -20.7 Foreign direct investment in the reporting economy, flows (% of GDP)2.7 3.2 3.7 3.4 1.5 0.2 3.6 3.2 3.9 2.0 Foreign direct investment in the reporting economy, stocks (% of GDP)39.7 40.4 48.4 47.3 47.7 50.1 51.5 48.1 50.7 49.7 Net trade balance of energy products (% of GDP)-3.0 -2.2 -2.6 -3.3 -3.4 -2.7 -2.6 -1.6 -1.4 -2.0 Real effective exchange rate - Euro Area trading partners (3 year % change)14.1 -6.2 -0.1 -9.5 7.3 -3.3 -1.5 -1.9 -5.5 -3.0 Export performance against advanced economies (5 year % change)68.4e45.8 34.9 25.7 13.6 6.9 11.7 10.4 14.8 22.7 Terms of trade (5 year % change)4.5 4.5 1.7 0.3 -2.6 -0.1 -1.4 2.5 4.6 6.1 Export market share in volume (1 year % change)4.1 4.1 0.4 0.8 1.5 2.3 3.0 4.8 6.6 4.2 Labour productivity (1 year % change)0.4 2.4 6.4b4.4 1.5 1.5 1.6 2.3 2.5p3.4pGross non-performing loans of domestic and foreign entities  (% of gross loans)::::::7.2e6.6e6.4e6.6pUnit labour cost performance relative to EA (10 year % change)3.8 -3.8 -3.3 -7.5 -3.5 0.4 2.1 1.1 4.0 1.7 House price index (2015=100) - nominal (3 year % change)101.6e43.4e-7.2 -6.4e-7.0e-7.6 -6.8 -2.0 4.4 7.4 Residential construction (% of GDP)3.8 3.4 3.2 3.0 3.2 3.0 3.0 2.5 2.4 2.8 Household debt, consolidated (incl. NPISH, % of GDP)30.0 31.6 34.2 35.1 34.1 35.1 35.6 36.0 36.6 34.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)10.8e9.3e10.0e9.9e9.1e9.0e9.3e9.2e9.4e8.8pFlags: b: Break in series. e: Estimated. p: Provisional. 1) House price index: e = NSI estimates.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.21 (continued): Auxiliary indicators for Poland 

162 

20082009201020112012201320142015201620171 year % change3.8 0.4 -2.7b0.6 0.1 -0.1 1.7 1.5 0.6p1.4p%63.8 64.7 65.3b65.7 66.5 67.0 67.9 68.1 68.8 69.6 %2.4 2.5 3.0b3.6 4.1 4.4 3.8 3.0 2.2 1.5 %17.2 20.6d23.7 25.8 26.5 27.3 23.9 20.8 17.7 14.8 %9.0b10.1 10.8b11.5 11.8 12.2b12.0 11.0 10.5 9.5 3 year change in pp-4.9b-2.5 0.2b2.5b1.7 1.4b0.5 -0.8 -1.7b-2.5 %30.5b27.8 27.8 27.2 26.7 25.8 24.7 23.4 21.9 19.5 3 year change in pp-14.8b-11.7 -6.6 -3.3b-1.1 -2.0 -2.5 -3.3 -3.9 -5.2 %16.9 17.1 17.6 17.7 17.1 17.3 17.0 17.6 17.3 15.0 3 year change in pp-3.6 -2.0 0.3 0.8 0.0 -0.3 -0.7 0.5 0.0 -2.0 %17.7 15.0 14.2 13.0 13.5 11.9 10.4 8.1 6.7 5.9 3 year change in pp-16.1 -12.6 -8.1 -4.7 -1.5 -2.3 -2.6 -5.4 -5.2 -4.5 %8.0 6.9 7.3 6.9 6.9 7.2 7.3 6.9 6.4 5.7 3 year change in pp-6.3 -5.5 -2.8 -1.1 0.0 -0.1 0.4 0.0 -0.8 -1.6 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. d: Definition differs. p: Provisional.       (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  

163 

Portugal2008200920102011201220132014201520162017Real GDP (1 year % change) 0.2 -3.0 1.9 -1.8 -4.0 -1.1 0.9 1.8 1.9 2.8pGross fixed capital formation (% of GDP)22.8 21.1 20.5 18.4 15.8 14.8 15.0 15.5 15.5 16.6pGross domestic expenditure on R&D (% of GDP)1.5b1.6 1.5 1.5 1.4 1.3 1.3 1.2 1.3p1.3pCurrent plus capital account (net lending-borrowing) (% of GDP)-10.9 -9.3 -8.8 -4.5 0.3 3.2 1.4 1.3 1.6 1.4 Net international investment position excluding non-defaultable instruments (% of GDP) -62.8 -69.9 -65.9 -69.6 -79.4 -76.0 -77.9 -73.2 -66.5 -60.9 Foreign direct investment in the reporting economy, flows (% of GDP)3.0 2.3 3.5 4.0 10.1 4.7 5.7 1.3 4.6 4.6 Foreign direct investment in the reporting economy, stocks (% of GDP)47.6 53.6 56.4 54.7 66.7 69.5 74.0 74.0 77.0 79.6 Net trade balance of energy products (% of GDP)-4.6 -2.8 -3.4 -4.2 -4.7 -3.7 -3.6 -2.3 -1.6 -2.1pReal effective exchange rate - Euro Area trading partners (3 year % change)0.0 -1.7 -2.1 -0.5 0.9 0.1 -1.2 -1.0 0.5 0.9 Export performance against advanced economies (5 year % change)-1.1 -0.3 0.7 -0.2 -6.7 -0.8 0.2 2.8 2.8 9.5 Terms of trade (5 year % change)-2.9 2.3 2.1 -0.5 -0.5 3.7 0.1 4.7 8.6 7.3pExport market share in volume (1 year % change)-3.3 -0.2 -3.2 -0.1 0.3 3.2 0.6 3.2 2.2 2.5pLabour productivity (1 year % change)-0.2 -0.3 3.4 0.1 0.1 1.8 -0.5 0.4 0.3 -0.5pGross non-performing loans of domestic and foreign entities  (% of gross loans)::::::16.6e17.5e17.2e13.3pUnit labour cost performance relative to EA (10 year % change)6.9 3.9 0.5 -3.7 -8.7 -9.0 -10.0 -11.9 -9.9 -8.2 House price index (2015=100) - nominal (3 year % change)7.3be4.2e3.6e-5.1 -11.0 -13.3 -4.9 5.4 15.1 20.6 Residential construction (% of GDP)4.7 4.1 3.6 3.3 2.9 2.5 2.5 2.4 2.6 2.8pHousehold debt, consolidated (incl. NPISH, % of GDP)89.0 92.1 90.7 90.5 90.4 86.1 81.7 76.7 72.1 68.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)18.1e16.1e16.2e19.6e15.5e14.8e13.7e12.4e12.9e10.6pFlags: b: Break in series. e: Estimated. p: Provisional. 1) House price index: e = source NCB.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.22 (continued): Auxiliary indicators for Portugal   

164 

20082009201020112012201320142015201620171 year % change0.4 -2.7 -1.4 -1.9 -4.1 -2.9 1.4 1.4 1.6 3.3p%73.9 73.4 73.7 73.6b73.4 73.0 73.2 73.4 73.7 74.7 %3.6 4.2 5.7 6.2b7.7 9.3 8.4 7.2 6.2 4.5 %21.6 25.3 28.2 30.2 38.0 38.1 34.7 32.0 28.2 23.8 %10.2 11.2 11.4 12.6b13.9 14.1 12.3 11.3 10.6 9.3 3 year change in pp-0.9 0.6b0.2 2.4b2.7 2.7 -0.3b-2.6 -3.5 -3.0 %26.0 24.9 25.3 24.4 25.3 27.5 27.5 26.6 25.1 23.3 3 year change in pp-0.1 -0.1 0.3 -1.6 0.4 2.2 3.1 1.3 -2.4 -4.2 %18.5 17.9 17.9 18.0 17.9 18.7 19.5 19.5 19.0 18.3 3 year change in pp-0.9 -0.6 -0.2 -0.5 0.0 0.8 1.5 1.6 0.3 -1.2 %9.7 9.1 9.0 8.3 8.6 10.9 10.6 9.6 8.4 6.9 3 year change in pp0.4 0.0 -0.6 -1.4 -0.5 1.9 2.3 1.0 -2.5 -3.7 %6.3 7.0 8.6 8.3 10.1 12.2 12.2 10.9 9.1 8.0 3 year change in pp0.3 0.4 1.4 2.0 3.1 3.6 3.9 0.8 -3.1 -4.2 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. 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  

165 

Romania2008200920102011201220132014201520162017Real GDP (1 year % change) 8.3 -5.9 -2.8 2.0 2.1 3.5 3.4 3.9 4.8 7.3pGross fixed capital formation (% of GDP)37.4 25.4 26.1 27.2 27.4 24.8 24.3 24.8 22.9 22.6pGross domestic expenditure on R&D (% of GDP)0.6 0.5 0.5 0.5b0.5 0.4 0.4 0.5 0.5 :Current plus capital account (net lending-borrowing) (% of GDP)-11.1 -4.2 -4.9 -4.4 -3.4 1.0 2.0 1.2 0.4 -2.0 Net international investment position excluding non-defaultable instruments (% of GDP) -16.8 -21.3 -23.1 -25.1 -25.0 -20.4 -16.0 -13.0 -6.7 -5.8 Foreign direct investment in the reporting economy, flows (% of GDP)6.3 2.7 2.0 1.3 1.8 2.0 1.9 2.4 3.3 2.8 Foreign direct investment in the reporting economy, stocks (% of GDP)35.0 39.4 41.7 41.6 43.2 43.1 41.9 42.6 44.4 44.5 Net trade balance of energy products (% of GDP)-2.8 -1.5 -2.2 -2.7 -3.0 -1.9 -1.4 -0.9 -0.9 -1.3pReal effective exchange rate - Euro Area trading partners (3 year % change)9.8 -6.3 -9.2 -1.6 3.2 0.7 -1.3 2.4 -2.6 -5.0 Export performance against advanced economies (5 year % change)113.6 83.7 65.9 63.7 25.8 21.9 28.2 21.8 20.1 30.9 Terms of trade (5 year % change)28.3 24.2 21.2 16.6 4.8 2.9 3.8 6.0 3.9 3.6pExport market share in volume (1 year % change)-4.8 5.2 2.4 5.0 -2.0 16.4 4.3 1.7 13.8 4.4pLabour productivity (1 year % change)8.2 -4.0 -2.5 2.8 7.2b4.4 2.6 5.2 6.0 4.3pGross non-performing loans of domestic and foreign entities  (% of gross loans)::::::20.7e13.4e9.7e6.6pUnit labour cost performance relative to EA (10 year % change)466.2 296.9 169.7 75.3 81.7 51.9 53.6 22.8 21.9 32.8 House price index (2015=100) - nominal (3 year % change):::-38.2e-23.0 -17.0 -7.3 0.5 6.7 15.6 Residential construction (% of GDP)3.1 2.8 2.9 2.7 3.1 2.6 2.4 2.4 2.6 :Household debt, consolidated (incl. NPISH, % of GDP)20.5 21.5 22.7 21.6 20.6 19.2 18.0 17.5 16.6 16.1 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)10.9e11.0e10.1e10.0e9.7e9.7e10.5e9.8e9.8e9.6pFlags: b: Break in series. e: Estimated. p: Provisional. 1) House price index: e = NSI estimates. 2) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.23 (continued): Auxiliary indicators for Romania   

166 

20082009201020112012201320142015201620171 year % change0.0 -2.0 -0.3 -0.8 -4.8b-0.9 0.8 -1.3 -1.1 2.8p%62.9 63.1 64.9b64.1 64.8 64.9 65.7 66.1 65.6 67.3 %2.4 2.2 2.4b2.9 3.0 3.2 2.8 3.0 3.0 2.0 %17.6 20.0 22.1 23.9 22.6 23.7 24.0 21.7 20.6 18.3 %11.6 13.9 16.6b17.5 16.8 17.0 17.0 18.1 17.4 15.2 3 year change in pp-5.2 -0.9b3.3b5.9 2.9 0.4b-0.5 1.3 0.4 -1.8 %44.2 43.0 41.5 40.9 43.2 41.9 40.3 37.4 38.8 35.7 3 year change in pp::-5.5 -3.3 0.2 0.4 -0.6 -5.8 -3.1 -4.6 %23.6 22.1 21.6 22.3 22.9 23.0 25.1 25.4 25.3 23.6 3 year change in pp6.6 4.1 -3.0 -1.3 0.8 1.4 2.8 2.5 2.3 -1.5 %32.7 32.1 30.5 29.5 31.1 29.8 25.9 22.7 23.8 19.7 3 year change in pp::-7.5 -3.2 -1.0 -0.7 -3.6 -8.4 -6.0 -6.2 %8.5 8.1 7.7 7.3 7.9 7.6 7.2 7.9 8.2 6.9 3 year change in pp::-2.2 -1.2 -0.2 -0.1 -0.1 0.0 0.6 -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. 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   

167 

Slovenia2008200920102011201220132014201520162017Real GDP (1 year % change) 3.3 -7.8 1.2 0.6 -2.7 -1.1 3.0 2.3 3.1 4.9 Gross fixed capital formation (% of GDP)29.6 24.3 21.3 20.2 19.2 19.8 19.4 18.8 17.5 18.5 Gross domestic expenditure on R&D (% of GDP)1.6b1.8 2.1 2.4b2.6 2.6 2.4 2.2 2.0p:Current plus capital account (net lending-borrowing) (% of GDP)-5.4 -0.5 0.0 0.0 2.3 4.8 6.0 5.6 4.8 6.4 Net international investment position excluding non-defaultable instruments (% of GDP) -34.5 -41.8 -45.3 -39.8 -42.5 -39.2 -35.1 -26.8 -22.1 -17.7 Foreign direct investment in the reporting economy, flows (% of GDP)2.0 -0.7 0.6 1.7 0.1 0.2 2.0 4.0 3.2 2.2 Foreign direct investment in the reporting economy, stocks (% of GDP)25.0 26.1 27.0 28.7 29.8 29.1 31.5 34.4 37.2 37.3 Net trade balance of energy products (% of GDP)-6.2 -3.9 -5.0 -6.2 -6.7 -5.5 -4.1 -3.1 -2.1 -2.6 Real effective exchange rate - Euro Area trading partners (3 year % change)4.0 3.9 3.1 0.3 0.2 0.0 0.5 -0.7 -1.6 -1.4 Export performance against advanced economies (5 year % change)29.5 18.8 6.4 2.8 -11.5 -12.5 -7.1 -3.3 1.1 13.3 Terms of trade (5 year % change)-4.1 0.4 -1.6 -2.4 -4.3 -2.3 -4.6 0.7 3.0 3.6 Export market share in volume (1 year % change)1.2 -6.6 -2.5 -0.2 -2.5 -0.7 2.0 2.1 4.2 5.4 Labour productivity (1 year % change)0.7 -6.1 3.4 2.4 -1.8 0.0 2.5 1.0 1.2 1.9 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::22.8e17.9e12.3e9.2pUnit labour cost performance relative to EA (10 year % change)36.1 35.9 29.4 18.7 12.6 9.1 3.8 3.1 3.0 1.1 House price index (2015=100) - nominal (3 year % change)54.5e19.8e-3.0 -6.9 -4.2 -9.4 -17.6 -10.8 -2.8 12.5 Residential construction (% of GDP)4.6 3.8 3.1 2.8 2.5 2.4 2.2 2.1 2.1 2.1 Household debt, consolidated (incl. NPISH, % of GDP)25.6 28.5 30.4 30.0 30.8 29.8 28.3 27.6 27.4 27.1 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)12.7e12.9e13.2e13.3e12.9e11.3e9.3e8.6e8.0e8.0pFlags: b: Break in series. e: Estimated. p: Provisional. 1) House price index: e = NSI estimates. 2) Official transmission deadline for 2017 data on Gross domestic expenditure on R&D is 31 October 2018 while data were extracted on 24 October 2018.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.24 (continued): Auxiliary indicators for Slovenia 

168 

20082009201020112012201320142015201620171 year % change2.6 -1.8 -2.1 -1.7 -0.9 -1.1 0.4 1.3 1.8 2.9 %71.8 71.8 71.5 70.3 70.4 70.5 70.9 71.8 71.6 74.2 %1.9 1.8 3.2 3.6 4.3 5.2 5.3 4.7 4.3 3.1 %10.4 13.6 14.7 15.7 20.6 21.6 20.2 16.3 15.2 11.2 %6.5 7.5 7.1 7.1 9.3 9.2 9.4 9.5 8.0 6.5 3 year change in pp-2.4 -1.0b0.4 0.6 1.8 2.1 2.3 0.2 -1.2 -2.9 %18.5 17.1 18.3 19.3 19.6 20.4 20.4 19.2 18.4 17.1 3 year change in pp0.0 0.0 1.2 0.8 2.5 2.1 1.1 -0.4 -2.0 -3.3 %12.3 11.3 12.7 13.6 13.5 14.5 14.5 14.3 13.9 13.3 3 year change in pp0.1 -0.3 1.2 1.3 2.2 1.8 0.9 0.8 -0.6 -1.2 %6.7 6.1 5.9 6.1 6.6 6.7 6.6 5.8 5.4 4.6 3 year change in pp1.6 1.0 0.8 -0.6 0.5 0.8 0.5 -0.8 -1.3 -2.0 %6.7 5.6 7.0 7.6 7.5 8.0 8.7 7.4 7.4 6.2 3 year change in pp-1.9 -1.3 -0.3 0.9 1.9 1.0 1.1 -0.1 -0.6 -2.5 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, 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  

169 

Slovakia2008200920102011201220132014201520162017Real GDP (1 year % change) 5.6 -5.4 5.0 2.8 1.7 1.5 2.8 4.2 3.1 3.2 Gross fixed capital formation (% of GDP)25.5 21.7 22.1 24.0 21.2 20.7 20.7 24.3 21.3 21.4 Gross domestic expenditure on R&D (% of GDP)0.5 0.5 0.6 0.7 0.8 0.8 0.9 1.2 0.8 0.9 Current plus capital account (net lending-borrowing) (% of GDP)-5.3 -2.7 -3.2 -3.7 2.9 3.3 2.1 1.8 -0.2 -1.1 Net international investment position excluding non-defaultable instruments (% of GDP) -6.0 -12.0 -11.0 -12.5 -8.9 -10.5 -13.0 -14.1 -14.8 -15.1 Foreign direct investment in the reporting economy, flows (% of GDP)4.9 1.9 2.3 5.6 1.9 1.0 -0.4 1.7 5.3 6.3 Foreign direct investment in the reporting economy, stocks (% of GDP)60.5 64.3 62.5 65.8 64.7 64.8 62.1 63.3 70.8 72.4 Net trade balance of energy products (% of GDP)-5.9 -4.4 -5.7 -6.4 -5.9 -5.9 -4.3 -3.5 -2.7 -3.5 Real effective exchange rate - Euro Area trading partners (3 year % change)26.8 24.8 12.7 4.9 1.9 2.5 0.5 -1.2 -2.0 -1.5 Export performance against advanced economies (5 year % change)46.8e18.8 12.4 6.2 0.5 2.8 8.8 5.3 4.4 1.9 Terms of trade (5 year % change)-4.5 -5.3 -5.7 -5.6 -5.7 -4.6 -3.5 -3.2 -2.2 -1.6 Export market share in volume (1 year % change)0.0 -6.8 3.0 4.9 6.2 2.9 0.2 3.1 3.3 0.6 Labour productivity (1 year % change)2.3 -3.5 6.7 1.0 1.6 2.3 1.3 2.2 0.7 1.0 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::5.2e4.4e4.6e3.7pUnit labour cost performance relative to EA (10 year % change)24.6 22.5 12.4 11.3 7.4 4.7 2.1 0.0 -0.8 2.0 House price index (2015=100) - nominal (3 year % change):32.7 -1.2 -17.5 -8.0 -3.3 -0.4 7.8 14.0 19.0 Residential construction (% of GDP)2.5 3.0 2.6 2.4 2.3 2.7 2.3 2.3 2.8 2.7 Household debt, consolidated (incl. NPISH, % of GDP)20.9 23.7 24.8 26.4 27.9 29.7 32.5 34.7 38.0 40.6 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)12.3e10.5e10.4e9.4e8.5e8.2e8.4e9.0e9.2e9.3pFlags: e: Estimated. p: Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.25 (continued): Auxiliary indicators for Slovakia   

170 

20082009201020112012201320142015201620171 year % change3.2 -2.0 -1.5 1.8 0.1 -0.8 1.4 2.0 2.4 2.2 %68.8 68.4 68.7 68.7b69.4 69.9 70.3 70.9 71.9 72.1 %6.6 6.5 9.2 9.2b9.4 10.0 9.3 7.6 5.8 5.1 %19.3 27.6 33.9 33.7d34.0 33.7 29.7 26.5 22.2 18.9 %11.1 12.5 14.1 13.8b13.8 13.7 12.8 13.7 12.3 12.1 3 year change in pp-4.7 -1.9b1.6 2.7b1.3 -0.4 -1.0b-0.1 -1.4 -0.7 %20.6 19.6 20.6 20.6 20.5 19.8 18.4 18.4 18.1 16.3 3 year change in pp-11.4 -7.1 -0.8 0.0 0.9 -0.8 -2.2 -2.1 -1.7 -2.1 %10.9 11.0 12.0 13.0 13.2 12.8 12.6 12.3 12.7 12.4 3 year change in pp-2.4 -0.6 1.4 2.1 2.2 0.8 -0.4 -0.9 -0.1 -0.2 %11.8 11.1 11.4 10.6 10.5 10.2 9.9 9.0 8.2 7.0 3 year change in pp-10.3 -7.1 -2.3 -1.2 -0.6 -1.2 -0.7 -1.5 -2.0 -2.9 %5.2 5.6 7.9 7.7 7.2 7.6 7.1 7.1 6.5 5.4 3 year change in pp-1.4 -0.6 1.5 2.5 1.6 -0.3 -0.6 -0.1 -1.1 -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 0-59Flags: b: Break in series. d: Definition differs.       (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   

171 

Finland2008200920102011201220132014201520162017Real GDP (1 year % change) 0.7 -8.3 3.0 2.6 -1.4 -0.8 -0.6 0.1 2.5 2.8 Gross fixed capital formation (% of GDP)24.4 22.8 21.9 22.2 22.3 21.2 20.6 20.4 21.7 22.1 Gross domestic expenditure on R&D (% of GDP)3.6 3.8 3.7 3.6 3.4 3.3 3.2 2.9 2.8 2.8 Current plus capital account (net lending-borrowing) (% of GDP)2.2 1.7 1.2 -1.6 -2.2 -2.1 -1.7 -0.7 -0.7 -0.6 Net international investment position excluding non-defaultable instruments (% of GDP) 8.2 4.7 9.0 4.1 -1.2 -3.7 0.2 12.4 12.2 6.1 Foreign direct investment in the reporting economy, flows (% of GDP)7.0 -3.3 4.9 -2.2 1.9 -1.9 6.3 7.2 2.0 5.8 Foreign direct investment in the reporting economy, stocks (% of GDP)50.9 50.7 54.7 50.6 52.0 46.8 52.4 57.8 54.1 55.0 Net trade balance of energy products (% of GDP)-3.3 -2.4 -2.8 -3.7 -2.6 -2.6 -2.4 -1.8 -1.4 -1.6 Real effective exchange rate - Euro Area trading partners (3 year % change)-1.3 0.8 1.9 2.1 1.6 1.9 2.0 1.1 0.5 -1.0 Export performance against advanced economies (5 year % change)6.4 -6.0 -13.1 -16.5 -23.5 -26.5 -21.4 -20.6 -16.7 -8.6 Terms of trade (5 year % change)-10.2 -7.1 -5.8 -4.3 -5.2 -2.7 -2.7 2.8 4.7 5.5 Export market share in volume (1 year % change)3.6 -10.1 -6.5 -5.1 -1.9 -2.7 -6.4 -2.1 1.8 2.2 Labour productivity (1 year % change)-1.5 -6.0 3.7 1.3 -2.3 0.0 -0.2 0.3 2.0 1.6 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::1.6e1.5e1.4e1.2pUnit labour cost performance relative to EA (10 year % change)-1.6 2.0 2.3 3.3 7.4 9.6 10.3 9.9 7.8 5.4 House price index (2015=100) - nominal (3 year % change)14.2p8.3p8.7p11.3p12.3 6.9 3.2 0.8 0.1 2.0 Residential construction (% of GDP)5.9 5.2 6.1 6.3 6.3 6.0 5.5 5.6 6.1 6.4 Household debt, consolidated (incl. NPISH, % of GDP)52.8 59.3 61.1 61.3 63.6 64.0 65.4 66.7 67.0 67.1 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)18.2e16.8e19.6e26.1e26.3e21.7e24.3e19.1e17.7e18.9pFlags: e: Estimated. p: Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.26 (continued): Auxiliary indicators for Finland 

172 

20082009201020112012201320142015201620171 year % change2.2 -2.4 -0.7 1.3 0.9 -0.7 -0.5 -0.1 0.5 1.2 %76.0 75.0 74.5 74.9 75.2 75.2 75.4 75.8 75.9 76.7 %1.2 1.4 2.0 1.7 1.6 1.7 1.9 2.3 2.3 2.1 %16.5 21.5 21.4 20.1 19.0 19.9 20.5 22.4 20.1 20.1 %7.8 9.9 9.0 8.4 8.6 9.3 10.2 10.6 9.9 9.4 3 year change in pp0.0 2.2 2.0 0.6 -1.3 0.3 1.8 2.0 0.6 -0.8 %17.4 16.9 16.9 17.9 17.2 16.0 17.3 16.8 16.6 15.7 3 year change in pp0.2 -0.2 -0.5 0.5 0.3 -0.9 -0.6 -0.4 0.6 -1.6 %13.6 13.8 13.1 13.7 13.2 11.8 12.8 12.4 11.6 11.5 3 year change in pp1.9 1.2 0.1 0.1 -0.6 -1.3 -0.9 -0.8 -0.2 -1.3 %3.5 2.8 2.8 3.2 2.9 2.5 2.8 2.2 2.2 2.1 3 year change in pp-0.3 -0.5 -0.8 -0.3 0.1 -0.3 -0.4 -0.7 -0.3 -0.7 %7.5 8.4 9.3 10.0 9.3 9.0 10.0 10.8 11.4 10.7 3 year change in pp-2.5 -0.7 0.5 2.5 0.9 -0.3 0.0 1.5 2.4 0.7 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, 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   

173 

Sweden2008200920102011201220132014201520162017Real GDP (1 year % change) -0.6 -5.2 6.0 2.7 -0.3 1.2 2.6 4.5 2.7 2.1 Gross fixed capital formation (% of GDP)24.4 22.4 22.3 22.8 22.7 22.4 23.1 23.6 23.9 25.0 Gross domestic expenditure on R&D (% of GDP)3.5e3.5 3.2e3.3 3.3e3.3e3.2e3.3 3.3p3.3 Current plus capital account (net lending-borrowing) (% of GDP)7.7 5.9 5.8 5.3 5.4 5.0 4.4 4.3 4.2 3.2 Net international investment position excluding non-defaultable instruments (% of GDP) -30.1 -24.9 -17.1 -18.9 -20.8 -24.6 -21.7 -13.9 -12.2 -7.0 Foreign direct investment in the reporting economy, flows (% of GDP)8.3 2.1 0.2 1.1 0.8 0.3 -1.7 1.8 1.4 5.8 Foreign direct investment in the reporting economy, stocks (% of GDP)91.4 100.8 92.8 91.7 91.4 90.7 84.5 83.9 82.2 4.2 Net trade balance of energy products (% of GDP)-1.9 -1.2 -1.6 -1.8 -1.7 -1.5 -1.3 -0.9 -0.8 -0.9 Real effective exchange rate - Euro Area trading partners (3 year % change)-4.8 -12.2 -1.2 7.4 19.3 5.9 -3.8 -7.7 -7.7 -3.9 Export performance against advanced economies (5 year % change)3.7 -8.8 -5.6 -4.1 -9.9 -11.3 -3.5 -8.3 -10.5 -8.6 Terms of trade (5 year % change)-2.4 -0.2 1.2 0.6 -0.7 0.0 -0.8 0.6 1.9 1.2 Export market share in volume (1 year % change)-1.0 -4.5 -0.8 -1.0 -2.1 -4.6 1.6 2.8 0.8 -2.1 Labour productivity (1 year % change)-1.4 -2.8 5.0 0.5 -1.0 0.3 1.2 2.9 0.8 -0.2 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::1.3e1.3e1.2e1.3pUnit labour cost performance relative to EA (10 year % change)5.1 5.8 0.8 -0.2 2.5 4.4 6.1 6.1 7.2 5.6 House price index (2015=100) - nominal (3 year % change)27.9 17.1 12.4 14.0 12.0 9.4 16.7 30.5 34.4 30.7 Residential construction (% of GDP)3.9 3.3 3.6 3.9 3.4 3.5 4.0 4.6 5.1 5.7 Household debt, consolidated (incl. NPISH, % of GDP)68.7 76.7 77.0 77.9 80.5 82.2 83.2 83.5 86.2 88.2 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)26.1e22.8e22.4e24.1e22.1e21.3e20.6e18.8e17.6e16.5pFlags: e: Estimated. p: Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.27 (continued): Auxiliary indicators for Sweden 

174 

20082009201020112012201320142015201620171 year % change0.9 -2.4 1.0 2.1 0.7 1.0 1.4 1.5 1.9 2.3 %79.3 78.9 79.1 79.9 80.3 81.1 81.5 81.7 82.1 82.5 %0.8 1.1 1.6 1.5 1.5 1.4 1.4 1.5 1.3 1.2 %20.2 25.0 24.8 22.8 23.7 23.6 22.9 20.4 18.9 17.8 %7.8b9.6 7.7 7.5 7.8 7.5 7.2 6.7 6.5 6.2 3 year change in pp-2.7b0.3b0.2b-0.3b-1.8 -0.2 -0.3 -1.1 -1.0 -1.0 %16.7b17.8 17.7 18.5 17.7 18.3 18.2 18.6 18.3 17.7 3 year change in pp2.3b1.5 3.8 1.8b-0.1 0.6 -0.3 0.9 0.0 -0.5 %13.5b14.4 14.8 15.4 15.2 16.0 15.6 16.3 16.2 15.8 3 year change in pp4.0b2.1 4.3 1.9b0.8 1.2 0.2 1.1 0.2 0.2 %1.8b2.0 1.9 1.7 1.8 1.9 1.0 1.1 0.8 1.1 3 year change in pp-0.5b-0.1 -0.3 -0.1b-0.2 0.0 -0.7 -0.7 -1.1 0.1 %7.0b8.5 8.5 9.4 8.1 9.4 9.0 8.7 8.5 8.8 3 year change in pp-0.6b1.7 2.5 2.4b-0.4 0.9 -0.4 0.6 -0.9 -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, 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 

175 

United Kingdom2008200920102011201220132014201520162017Real GDP (1 year % change) -0.3 -4.2 1.7 1.6 1.4 2.0 2.9 2.3 1.8 1.7 Gross fixed capital formation (% of GDP)17.1 15.4 15.5 15.5 15.8 16.0 16.6 16.8 16.8 17.2 Gross domestic expenditure on R&D (% of GDP)1.6e1.7e1.7e1.7b1.6e1.7 1.7e1.7 1.7p1.7pCurrent plus capital account (net lending-borrowing) (% of GDP)-4.6 -3.9 -3.8 -2.4 -4.3 -5.2 -5.0 -5.0 -5.3 -3.8 Net international investment position excluding non-defaultable instruments (% of GDP) -24.6 -35.8 -26.2 -22.3 -24.2 -12.5 -14.9 -10.8 1.1 -5.3 Foreign direct investment in the reporting economy, flows (% of GDP)9.1 0.4 2.7 1.0 1.8 2.0 2.0 1.6 10.1 2.5 Foreign direct investment in the reporting economy, stocks (% of GDP)59.8 57.3 59.7 60.4 73.8 71.8 71.8 71.4 78.8 76.5 Net trade balance of energy products (% of GDP)-0.6 -0.4 -0.4 -1.0 -1.2 -1.1 -0.8 -0.6 -0.5 -0.6 Real effective exchange rate - Euro Area trading partners (3 year % change)-13.8 -21.7 -16.8 -2.7 14.5 4.2 10.3 14.0 4.9 -6.7 Export performance against advanced economies (5 year % change)-13.7 -12.8 -17.4 -18.9 -11.5 -5.6 -3.5 3.1 -2.0 -5.4 Terms of trade (5 year % change)-4.2 -3.0 -1.5 -2.3 -0.4 3.2 2.7 2.6 6.2 5.3 Export market share in volume (1 year % change)-2.6 1.7 -7.0 -0.7 -1.7 -2.3 -1.4 1.5 -1.2 0.4 Labour productivity (1 year % change)-1.2 -2.7 1.5 1.1 0.4 0.9 0.6 0.6 0.4 0.7 Gross non-performing loans of domestic and foreign entities  (% of gross loans)::::::3.3e:1.9e1.5pUnit labour cost performance relative to EA (10 year % change)11.4 10.2 11.6 9.0 9.6 10.3 6.6 7.4 5.8 5.0 House price index (2015=100) - nominal (3 year % change)13.2 -4.4 -8.0 -5.1 4.6 1.5 11.2 17.4 22.4 18.5 Residential construction (% of GDP)3.6 3.0 3.1 3.1 3.0 3.2 3.5 3.6 3.8 4.0 Household debt, consolidated (incl. NPISH, % of GDP)93.3 95.7 93.1 90.2 88.9 86.5 84.8 85.4 86.3 86.2 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)26.2e22.0e20.8e20.5e19.1e17.9e17.9e15.6e15.1e15.0pFlags: b: Break in series. e: Estimated. p: Provisional. 1) House price index: e = NSI estimates.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forGrossnon-performingloansofdomesticandforeignentitiesandConsolidatedbankingleverage,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.28 (continued): Auxiliary indicators for United Kingdom  

176 

20082009201020112012201320142015201620171 year % change0.8 -1.6 0.2 0.5 1.1 1.2 2.4 1.7 1.4 1.0 %75.8b75.7 75.4 75.5 76.1 76.4 76.7 76.9 77.3 77.6 %1.4b1.9 2.5 2.7 2.7 2.7 2.2 1.6 1.3 1.1 %15.0 19.1 19.9 21.3 21.2 20.7 17.0 14.6 13.0 12.1 %12.1b13.2 13.6 14.2 13.9 13.2 11.9 11.1 10.9 10.3 3 year change in pp3.7b4.6 1.7b2.1b0.7 -0.4 -2.3 -2.8 -2.3 -1.6 %23.2 22.0 23.2 22.7 24.1b24.8 24.1 23.5 22.2 :3 year change in pp-1.6 -1.7 0.6 -0.5 2.1b1.6 1.4 -0.6b-2.6 :%18.7 17.3 17.1 16.2 16.0 15.9 16.8 16.6 15.9 :3 year change in pp-0.3 -1.7 -1.5 -2.5 -1.3 -1.2 0.6 0.6 0.0 :%4.5 3.3u4.8 5.1 7.8 8.3 7.4 6.1 5.2 4.9p3 year change in pp-0.8 -1.2u0.6 0.6 4.5u3.5 2.3 -1.7 -3.1 -2.5p%10.4 12.7 13.2 11.5 13.0b13.2 12.3 11.9 11.3 :3 year change in pp-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. p: Provisional. 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) 2017 

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)BE0.7 52.6 1.5 -0.5 1.6 1.5p-1.5 187.0 103.4 7.1b0.7 68.0b3.5b19.3bBG6.7 -42.8 0.6 5.0 8.4p6.2 6.2 100.1 25.6 6.2 1.1 71.3 3.4 12.9 CZ1.1 -26.5 3.6 1.2 3.6 9.1p4.1 67.4 34.7 2.9 22.9 75.9 1.0 7.9 DK8.1 56.3 0.3 -1.8 0.5 3.2 -1.4 204.0 36.1 5.7 4.1 78.8b1.3b11.0 DE7.9 54.0 0.9 -1.1 1.8 2.9 4.9 100.1 63.9 3.8 4.0 78.2 1.6 6.8 EE3.2 -31.4 1.3 -0.1 4.7 1.8 3.6 106.4 8.7 5.8 9.7 78.8 1.9 12.1 IE8.5 -149.3 0.1 -0.1 -3.2 9.5p-7.5 243.6 68.4 6.7 4.3 72.7 3.0 14.4 EL-1.0 -142.5 0.6 5.6 0.6p-2.2e-0.8p116.4p176.1 21.5 -12.9 68.3 15.6 43.6 ES1.8 -83.8 1.3 0.4 0.2p4.5 0.2p138.8p98.1 17.2 4.0 73.9 7.7 38.6 FR-0.6 -20.1 0.5 -3.2 0.8p1.8 7.0p148.2p98.5 9.4 4.3 71.5 4.2 22.3 HR3.9 -62.4 0.3 2.5 -1.8d2.8 1.2 98.4 77.5 11.1 3.9 66.4 4.6 27.2 IT2.8 -5.3 0.5 -0.1 -0.3 -2.0p2.1 110.5 131.2 11.2 4.3 65.4 6.5 34.7 CY-8.4 -121.5 0.1 -0.8 0.4p1.3p8.7p316.3p96.1 11.1 -2.3 73.9 4.5 24.7 LV0.7 -56.3 -0.2 2.3 3.1 5.5 0.3 83.5 40.0 8.7 6.1 77.0 3.3 17.0 LT0.9 -35.9 0.0 10.3 3.8 5.4 3.7 56.1 39.4 7.1 14.0 75.9 2.7 13.3 LU4.9 47.0 1.0 -4.5 5.2 4.1 -15.5 322.9 23.0 5.6 -1.7 70.2 2.1 15.4 HU3.2 -52.9 1.7 -0.5 4.1 3.3 0.9 71.4 73.3 4.2 -8.0 71.2 1.7 10.7 MT13.8 62.6 1.1 -0.4 0.2 4.1p2.9 120.2 50.9 4.6 4.7 72.2 1.6 11.3 NL10.5 59.7 0.5 0.9 0.5p6.0 3.0p252.1p57.0 4.9 2.0p79.7 1.9 8.9 AT2.0 3.7 0.9 -0.9 0.6 3.5 4.3 122.5 78.3 5.5 1.8 76.4 1.8 9.8 PL0.2 -61.2 2.7 6.2 2.5p1.7 2.7 76.4 50.6 4.9 6.3 69.6 1.5 14.8 PT0.5 -104.9 0.6 3.4 2.1p7.9 1.3p162.2p124.8 9.0 1.8 74.7 4.5 23.8 RO-3.2 -47.7 -1.8 3.1 6.5p4.0 1.7p50.8p35.1 4.9 8.1 67.3 2.0 18.3 SI7.2 -32.3 -0.4 5.6 1.3 6.2 0.8 75.6 74.1 6.6 5.1 74.2 3.1 11.2 SK-2.0 -65.6 -0.2 -0.7 4.2 4.4 5.9 96.1 50.9 8.1 17.9 72.1 5.1 18.9 FI-0.7 2.4 -0.6 3.5 -2.7 0.5 8.2 146.4 61.3 8.6 -3.8 76.7 2.1 20.1 SE3.3 1.8 -0.7 -3.1 2.2 4.6 13.1 194.4 40.8 6.7 6.8 82.5 1.2 17.8 UK-3.7 -8.6 -4.6 -3.6 2.4 2.4 8.4 169.0 87.4 4.4 -1.6 77.6 1.1 12.1 Employment indicators¹Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=sourceNCBforEL.3)ForNominalunitlabourcostHR,d:employmentdatausenationalconceptinsteadofdomesticconcept.4)Unemploymentrate,Activityrate,Long-termunemploymentrateandYouthunemploymentrate:BE:Revisioninthesurvey methodology; IE: introduction of the new Labour Force Survey in substitution to the Quarterly National Household Survey as data source; DK: data collection improvement, introduction of computer-assisted web interviewing.      (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 volume exports of goods and services)Year2017External imbalances and competitivenessInternal imbalances 
 
 
 
 
Table 6.2: MIP Scoreboard (base indicators) 2016 

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-0.6 57.3 2.9 7.9 0.3 1.1p23.0 198.9 106.1 7.8 2.4 67.6 4.0 20.1 BG2.6 -49.2 -0.4 8.4 2.3p7.1 4.1 104.8 29.6 7.6 11.2 68.7 4.5 17.2 CZ1.6 -26.9 2.5 4.5 3.1 6.7p4.5 68.9 36.8 4.0 16.3 75.0 1.7 10.5 DK8.0 55.3 1.0 1.6 0.9 4.7 2.2 213.3 37.9 6.2 4.4 80.0b1.4b12.0 DE8.5 50.7 1.6 3.3 1.3 5.3 3.7 98.5 67.9 4.1 5.1 77.9 1.7 7.1 EE2.0 -38.9 1.5 7.2 3.0 3.8 6.0 112.2 9.2 6.8 6.9 77.5 2.1 13.4 IE-4.2 -170.7 0.9 4.2 0.9 6.6p-15.6 283.3 73.4 8.4 1.5 72.7 4.2 16.8 EL-1.3 -139.7 1.1 -4.5 -0.3p-1.5e-2.1p124.0p178.5 23.6 -16.6 68.2 17.0 47.3 ES2.3 -85.3 0.7 5.8 -0.7p4.6 -1.2p146.8p99.0 19.6 0.8 74.2 9.5 44.4 FR-0.8 -14.9 1.3 2.4 0.4p1.1 7.0p146.6p98.2 10.1 4.5 71.4 4.6 24.6 HR2.5 -69.9 1.1 7.9 -1.8d2.1 -0.1 105.3 80.2 13.4 3.3 65.6 6.6 31.8 IT2.5 -9.9 0.8 3.0 0.7 -0.2p-0.1 111.8 131.4 11.7 3.3 64.9 6.7 37.8 CY-5.1 -123.0 -0.2 6.0 -1.4p1.7 9.7p337.8p105.5 13.0 1.8 73.4 5.8 29.1 LV1.6 -58.4 1.2 3.9 4.8 7.3 0.3 88.0 40.3 9.6 5.8 76.3 4.0 17.3 LT-0.8 -42.7 1.9 3.3 6.4 4.5 4.4 56.1 39.9 7.9 16.6 75.5 3.0 14.5 LU5.1 47.2 0.7 0.7 1.5 5.9 5.2 353.4 20.7 6.3 4.5 70.0 2.2 19.1 HU6.2 -58.5 0.8 5.4 5.2 13.6 -3.0 77.9 75.9 5.1 19.3 70.1 2.4 12.9 MT7.0 45.2 1.4 7.8 1.8 4.8 11.3 123.5 56.3 5.2 3.8 70.6 1.9 11.9 NL8.1 62.7 1.2 0.5 0.6p4.4 5.6 262.1 61.9 6.0 6.0 79.7 2.5 10.8 AT2.5 3.7 1.7 3.8 1.6 7.0 3.4 124.1 83.0 6.0 -2.6 76.2 1.9 11.2 PL-0.5 -61.7 -3.5 6.3 2.5p2.3 5.2 81.6 54.2 6.2 9.0 68.8 2.2 17.7 PT0.6 -105.5 1.6 4.1 1.4 6.1 -2.1 169.3 129.2 11.2 -0.3 73.7 6.2 28.2 RO-2.1 -48.9 -1.3 8.6 8.5 5.0 0.6 55.6 37.3 5.9 6.9 65.6 3.0 20.6 SI5.5 -36.8 0.5 6.8 1.8 3.8 -0.8 80.6 78.7 8.0 3.2 71.6 4.3 15.2 SK-2.2 -66.6 0.5 6.7 1.3 7.0 9.5 90.5 51.8 9.7 8.5 71.9 5.8 22.2 FI-0.7 3.3 1.2 3.1 -0.9 -0.3 1.4 148.5 63.0 8.8 3.9 75.9 2.3 20.1 SE4.3 5.0 0.8 1.9 1.7 7.6 7.5 188.2 42.4 6.9 9.3 82.1 1.3 18.9 UK-5.2 -2.4 -10.9 -3.4 2.5 5.4 11.5 170.0 87.9 4.8 11.7 77.3 1.3 13.0 Year2016External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=sourceNCBforEL.3)NominalunitlabourcostforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.4)Privatesectordebt,Privatesectorcreditflow,Totalfinancialsectorliabilities:significantrevisionsinthetimeseriesofNL due to the 2018 national accounts benchmark revision.       (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 volume exports of goods and services)   
 
 
 
 
Table 6.3: MIP Scoreboard (base indicators) 2015 

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-1.0 45.9 -3.3 -5.1 -0.8 1.2p12.4 180.9 106.5 8.5 2.7 67.6 4.4 22.1 BG0.0 -63.0 -3.5 -2.4 2.5p1.6b-0.3 110.5 26.2 9.2 6.2 69.3 5.6 21.6 CZ0.2 -32.9 -0.7 -1.0 -0.8 3.8p0.3 68.1 40.0 5.1 8.1 74.0 2.4 12.6 DK8.3 34.5 -3.4 -2.0 1.6 6.2 1.8 213.1 39.9 6.2 -1.1 78.5 1.7 10.8 DE8.9 46.4 -4.9 0.1 1.9 4.1 3.2 98.2 70.8 4.6 2.9 77.6 2.0 7.2 EE1.8 -40.2 0.1 -8.5 4.3 7.0 2.7 113.5 9.9 6.2 8.6 76.7 2.4 13.1 IE4.4 -198.7 -7.1 40.6 -15.2 11.0p-2.3 306.0 76.8 10.0 9.6 72.1 5.3 20.2 EL-0.2 -136.1 -4.5 -14.3 -1.3p-3.6e-2.8p126.7p175.9 24.9 15.3 67.8 18.2 49.8 ES1.2 -89.5 -4.5 -1.3 0.6 3.8 -1.8 154.8 99.3 22.1 -1.2 74.3 11.4 48.3 FR-0.4 -12.9 -4.7 0.9 0.2 -1.8 4.6 142.8 95.6 10.4 2.2 71.3 4.6 24.7 HR4.4 -76.4 -1.4 2.7 -0.8d-2.4 -1.4 113.0 83.7 16.1 1.9 66.9 10.2 42.3 IT1.5 -19.5 -4.4 -2.2 0.7 -4.0 -1.4 115.1 131.6 11.9 1.3 64.0 6.9 40.3 CY-1.5 -145.0 -6.5 -1.5 -1.7 0.2bp4.1 353.5 108.0 15.0 11.1 73.9 6.8 32.8 LV-0.5 -63.5 0.6 -3.7 6.1 -2.4 0.7 88.9 36.8 9.9 12.2 75.7 4.5 16.3 LT-2.3 -43.4 0.4 -10.1 5.1 4.6 2.4 54.8 42.6 9.1 7.0 74.1 3.9 16.3 LU5.1 30.8 -2.6 3.1 0.3 5.3 27.6 379.4 22.2 6.5 17.3 70.9b1.9b16.6 HU2.7 -67.5 -2.3 0.2 -2.6 13.3 -2.5 84.6 76.6 6.8 0.4 68.6 3.1 17.3 MT4.5 50.8 -4.7 -0.6 -0.4 4.0 2.7 122.5 58.6 5.9 1.3 68.8 2.4 12.6 NL6.3 50.1 -3.3 -2.1 -1.3 3.4 0.9 264.2 64.6 6.9 3.8 79.6 3.0 11.3 AT1.7 2.2 -2.3 -3.6 1.4 3.3 2.2 124.2 84.8 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 51.3 7.5 2.4 68.1 3.0 20.8 PT0.1 -113.2 -2.9 -1.5 0.0 2.1 -1.9 179.4 128.8 12.6 -1.6 73.4 7.2 32.0 RO-1.2 -54.6 -2.5 -0.2 -3.1 1.8 0.2 59.1 37.8 6.8 4.1 66.1 3.0 21.7 SI4.5 -39.6 -2.0 -1.2 0.3 1.4 -5.0 86.7 82.6 9.0 -3.7 71.8 4.7 16.3 SK-1.7 -64.4 -2.2 -2.6 1.3 5.5 8.2 83.3 52.2 11.5 10.8 70.9 7.6 26.5 FI-0.7 1.6 -3.1 -6.0 1.2 -0.3 6.9 152.9 63.6 9.4 1.4 75.8 2.3 22.4 SE4.5 -1.2 -5.4 -1.3 -0.2 12.1 7.4 188.3 44.2 7.4 2.4 81.7 1.5 20.4 UK-4.9 -20.1 5.0 4.3 0.5 5.4 3.3 164.8 87.9 5.3 -8.5 76.9 1.6 14.6 Year2015External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)NominalunitlabourcostforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.5)Privatesectordebt,privatesectorcreditflow,totalfinancialsectorliabilities:duetoimprovedsourcesandmethods,therearesignificantrevisionsforLUparticularlyfor2014-2015;significantrevisionsinthetimeseriesofNLduetothe2018nationalaccounts benchmark revision. Private sector debt: significant increases for IE due to re-domiciling of large multinational corporations and movement of large parts of their balance sheets. 6) Unemployment rate, Activity rate, Long-term unemployment rate and Youth unemployment rate: LU change in sampling strategy and data collection technique.      (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 volume exports of goods and services) 
 
 
 
 
 
Table 6.4: MIP Scoreboard (base indicators) 2014 

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-0.9 45.1 0.2 0.5 0.1 -1.3 -2.1 166.8 107.6 8.5 3.3 67.7 4.3 23.2 BG1.2 -72.4 -0.8 0.8 4.1p1.5 -1.1 123.4 27.1 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 43.3 0.8 0.5 0.8 3.1 -0.3 214.0 44.3 6.6 7.3 78.1 1.7 12.6 DE7.5 40.6 0.8 2.5 1.4 2.2 0.1 98.6 74.5 5.0 4.6 77.7 2.2 7.7 EE0.8 -47.0 2.8 1.0 4.3 12.6 5.6 116.1 10.5 7.4 13.2 75.2 3.3 15.0 IE1.1 -164.3 -0.8 13.1 -5.1 15.1p2.5 278.3 104.1 11.9 19.5 71.8 6.6 23.4 EL-1.6 -131.9 -0.6 3.4 -1.8p-5.1e-2.8p129.2p178.9 26.5 -8.2 67.4 19.5 52.4 ES1.1 -98.0 -0.5 0.9 -0.3 0.1 -6.9 165.8 100.4 24.5 -0.4 74.2 12.9 53.2 FR-1.0 -15.6 0.3 0.2 0.7 -1.7 3.2 141.5 94.9 10.3 5.6 71.0 4.5 24.2 HR1.9 -85.3 0.4 3.1 -2.6d-1.1 0.1 118.0 84.0 17.2 0.7 66.1 10.1 44.9 IT1.9 -21.0 0.3 0.8 0.1 -5.0 -0.5 119.0 131.8 12.7 0.6 63.9 7.7 42.7 CY-4.3 -147.0 -0.8 0.9 -4.0 -1.0p-0.3 352.4 108.0 16.1 -3.6 74.3 7.7 36.0 LV-1.7 -66.1 2.9 2.8 5.2 4.3 -11.8 96.2 40.9 10.8 10.4 74.6 4.6 19.6 LT3.2 -45.1 3.0 -1.1 3.2 6.3 0.3 53.9 40.5 10.7 16.2 73.7 4.8 19.3 LU5.1 48.6 0.5 9.7 1.8 3.9 29.7 356.6 22.7 6.0 36.0 70.8 1.6 22.3 HU1.5 -80.3 -3.6 4.2 1.2 3.4 -0.1 91.4 76.6 7.7 8.4 67.0 3.7 20.4 MT8.8 43.2 0.6 3.0 -1.2 2.1 3.9 135.7 63.7 6.3 6.4 67.8 2.7 12.5 NL8.5 48.0 -0.1 0.5 0.1 -0.1 3.7 268.1 67.9 7.4 4.8 79.0 2.9 12.7 AT2.5 3.4 1.7 1.4 2.2 1.4 0.9 124.8 84.0 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 50.4 9.0 0.7 67.9 3.8 23.9 PT0.1 -118.6 -0.5 1.3 -1.3 3.9 -5.7 190.5 130.6 14.1 -7.5 73.2 8.4 34.7 RO-0.7 -57.3 1.4 6.2 4.2 -3.1 -2.4 62.1 39.2 6.8 1.3 65.7 2.8 24.0 SI5.8 -45.8 1.1 3.7 -1.2 -6.6 -4.7 97.4 80.4 9.7 -0.2 70.9 5.3 20.2 SK1.1 -63.6 0.2 -1.6 0.5 1.5 5.7 82.5 53.5 13.2 8.7 70.3 9.3 29.7 FI-1.8 -3.2 2.5 -4.8 1.1 -1.6 1.7 149.8 60.2 8.7 9.2 75.4 1.9 20.5 SE4.5 -2.3 -4.6 -0.3 1.0 8.3 4.9 194.7 45.5 7.9 13.0 81.5 1.4 22.9 UK-4.9 -22.1 7.1 2.9 0.0 6.0 6.7 166.0 87.0 6.1 4.8 76.7 2.2 17.0 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)NominalunitlabourcostforHRd:employmentdatausenationalconceptinsteadofdomesticconcept.5)Privatesectordebt,Privatesectorcreditflow:duetoimprovedsourcesandmethods,significantrevisionsforLU,particularly2014-2015;Privatesectordebt,Privatesectorcreditflow,Totalfinancialsectorliabilities:significantrevisionsinthetimeseriesofNL due to the 2018 national accounts benchmark revision.      (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 volume exports of goods and services)Year2014External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags: d: Definition differs. e: Estimated. p: Provisional.  
 
 
 
 
 
Table 6.5: MIP Scoreboard (base indicators) 2013 

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-0.3 51.9 1.5 1.4 2.0 0.4 8.2 169.2 105.5 8.4 0.9 67.5 3.9 23.7 BG1.3 -73.3 0.1 6.6 7.8p0.4 7.3 132.3 17.1 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 3.2 -3.0 216.1 44.0 7.0 1.8 78.1 1.8 13.0 DE6.7 34.5 2.2 1.6 1.9 2.1 2.0 102.7 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 IE1.5 -133.3 1.6 -0.6 1.1 -0.5p-1.4 267.7 119.7 13.8 1.9 71.8 8.0 26.7 EL-2.0 -130.4 -0.6 0.6 -6.9p-9.1e-4.8p130.3p177.4 27.5 -17.6 67.5 18.5 58.3 ES1.5 -95.2 1.9 3.7 -0.6 -10.0 -10.4 177.2 95.5 26.1 -10.9 74.3 13.0 55.5 FR-0.5 -16.6 1.6 2.4 1.4 -2.6 2.1 137.4 93.4 10.3 0.5 70.7e4.4e24.9 HR0.9 -88.3 1.2 2.5 -3.1d-5.8 -0.6 117.7 80.4 17.4 2.8 63.7 11.0 49.9 IT1.0 -22.7 1.9 0.5 0.7 -7.5 -3.0 121.6 129.0 12.1 -2.7 63.4 6.9 40.0 CY-4.9 -138.7 1.1 2.4 -5.5 -3.9p-13.3 340.1 103.1 15.9 -15.3 73.6 6.1 38.9 LV-2.7 -66.4 -1.0 2.4 5.3 6.5 0.9 92.6 39.0 11.9 5.2 74.0 5.7 23.2 LT0.8 -47.1 0.9 8.2 3.2 0.2 -0.4 56.3 38.8 11.8 -1.4 72.4 5.1 21.9 LU5.4 53.9 1.6 15.2 0.5 3.3 27.8 313.3 23.7 5.9 10.3 69.9 1.8 16.9 HU3.8 -83.1 -1.4 1.7 0.8 -4.3 -0.9 95.2 77.1 10.2 -1.3 64.7 4.9 26.6 MT2.7 27.0 1.5 1.2 1.2 -1.4 2.7 143.9 68.4 6.8 1.6 66.3 2.8 13.7 NL9.8 30.7 2.7 1.5 0.8 -7.9 8.3 254.9 67.7 7.3 -0.5 79.4 2.5 13.2 AT1.9 1.3 2.1 1.7 2.5 3.0 1.0 127.1 81.3 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 -62.8 4.0 15.5 -0.3 -2.7 -1.4 66.8 37.6 7.1 0.8 64.9 3.2 23.7 SI4.4 -47.2 1.4 2.7 0.5 -7.2 -4.0 107.2 70.4 10.1 -10.3 70.5 5.2 21.6 SK1.9 -62.3 1.0 5.0 0.3 -0.4 5.1 76.9 54.7 14.2 1.7 69.9 10.0 33.7 FI-2.2 3.9 2.9 0.3 1.4 -1.3 2.8 147.7 56.5 8.2 -11.6 75.2 1.7 19.9 SE5.2 -16.0 1.7 -1.6 1.7 4.7 4.5 195.4 40.7 8.0 9.1 81.1 1.4 23.6 UK-5.1 -18.0 -1.5 -0.8 1.8 0.3 7.0 172.8 85.2 7.5 -7.7 76.4 2.7 20.7 Flags: d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)Nominalunitlabourcostfor HR d: employment data use national concept instead of domestic concept. 5) Private sector debt, Private sector credit flow, Total Financial sector liabilities: significant revisions in the time series of NL due to the 2018 national accounts benchmark revision.      (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 volume exports of goods and services)Year2013External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
Table 6.6: MIP Scoreboard (base indicators) 2012 

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)BE-0.1 51.8 -2.3 -6.4 3.4 0.3 13.2 189.3 104.3 7.6 -5.1 66.9 3.4 19.8 BG-0.9 -77.9 -2.1 -4.8 5.0p-5.3 3.0 125.0 16.7 12.3 10.2 67.1 6.8 28.1 CZ-1.6 -45.9 -2.8 -4.1 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 -5.1 0.9 -5.0 7.9 224.0 44.9 7.5 2.5 78.6 2.1 14.1 DE7.0 28.5 -3.3 -4.7 3.2 2.0 1.3 101.8 79.9 5.4 3.3 77.2 2.4 8.0 EE-1.9 -51.1 -0.9 -2.6 5.0 3.2 6.8 117.8 9.7 10.0 10.5 74.8 5.5 20.9 IE-2.6 -137.7 -4.4 -3.6 0.3 -14.8p-0.6 279.6 119.9 15.5 -1.8 71.1 9.2 30.8 EL-3.8 -115.9 -4.4 -5.1 -2.0p-12.1e-5.9p131.5p159.6 24.5 -2.4 67.5 14.5 55.3 ES-0.2 -89.9 -2.4 -6.1 -2.6 -16.8 -11.2 188.0 85.7 24.8 2.9 74.3 11.0 52.9 FR-1.0 -12.8 -3.2 -4.5 2.2 -2.0 4.2 138.3 90.6 9.8 1.4 70.3e4.1e24.4 HR-0.2 -90.7 -2.5 -7.9 -1.0d-4.6 -3.0 120.0 69.4 15.8 1.2 63.9 10.2 42.2 IT-0.3 -22.2 -1.9 -5.1 1.4 -5.1 -0.8 125.1 123.4 10.7 7.3 63.5 5.6 35.3 CY-6.0 -129.1 -2.1 -9.2 1.4 -5.2p16.5 328.1 80.1 11.9 6.4 73.5 3.6 27.7 LV-3.6 -67.2 -1.5 3.8 5.0 -0.4 -2.1 97.9 41.2 15.0 5.2 74.4 7.8 28.5 LT-1.4 -53.6 -2.0 5.7 2.2 -3.2 0.4 61.1 39.8 13.4 -0.7 71.8 6.6 26.7 LU5.6 50.9 -1.6 0.3 4.6 2.2 25.9 303.7 22.0 5.1 15.2 69.4 1.6 18.0 HU1.7 -93.6 -1.9 -10.8 3.6 -9.3 -6.1 101.8 78.4 11.0 -5.8 63.7 5.0 28.2 MT1.7 19.6 -2.0 -1.5 3.4 0.4 -0.7 153.2 67.7 6.8 6.1 63.9 3.0 14.8 NL10.2 26.7 -1.8 -3.2 2.8 -7.9 5.5 250.7 66.2 5.8 5.0 79.0 1.9 11.7 AT1.5 -3.2 -1.8 -6.3 3.1 4.8 1.2 128.2 81.9 4.9 0.4 75.1 1.2 9.4 PL-3.7 -65.3 -2.2 -2.6 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 -4.8 -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 -7.2 1.5b-9.2 0.3 72.1 36.9 6.8 4.4 64.8 3.0 22.6 SI2.1 -50.1 -1.2 -7.5 0.8 -8.4 -2.9 112.3 53.8 8.9 -0.7 70.4 4.3 20.6 SK0.9 -61.4 0.1 0.7 1.0 -6.0 3.1 71.8 52.2 14.0 0.7 69.4 9.4 34.0 FI-2.3 11.7 -2.6 -6.8 5.2 -0.4 7.4 148.6 53.9 7.7 -1.4 75.2 1.6 19.0 SE5.6 -15.7 -0.7 -6.2 4.1 0.7 2.5 193.1 38.1 8.0 5.5 80.3 1.5 23.7 UK-4.2 -28.4 4.4 -1.7 1.5 -1.7 1.7 178.4 84.1 7.9 -3.5 76.1 2.7 21.2 Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)Nominalunitlabourcostfor HR d: employment data use national concept instead of domestic concept. 5) Private sector debt, Private sector credit flox, Total financial sector liabilities: significant revisions in the time series of NL due to the 2018 national accounts benchmark revision.      (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 volume exports of goods and services) Year2012External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
Table 6.7: MIP Scoreboard (base indicators) 2011 

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 60.9 0.6 -2.6 2.7 1.0 21.7 181.5 102.6 7.2 5.4 66.7 3.5 18.7 BG0.3 -82.8 1.0 12.0 2.5 -8.7 1.4 124.2 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 -4.3 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 2.6 -1.1 120.4 6.1 12.3 -0.2 74.7 7.1 22.4 IE-2.4 -139.8 -1.0 -9.5 -5.2b-17.8p16.4 274.0 110.9 15.4 -2.3 71.2 8.8 29.6 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 -3.7 196.4 69.5 21.4 3.0 73.9 8.9 46.2 FR-0.9 -8.7 -0.6 -2.6 0.9 4.0 6.4 135.3 87.8 9.2 6.9 69.7e4.0e22.6 HR-0.8 -91.5 -2.7 -6.0 0.0d-2.1 -2.3 122.7 63.8 13.7 2.0 64.1 8.4 36.6 IT-3.0 -18.3 0.1 -3.5 0.7 -1.5 3.1 122.7 116.5 8.4 5.1 62.1 4.3 29.2 CY-4.1 -129.9 0.2 -5.0 1.7 -4.3p13.0 321.6 66.2 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 -52.7 0.6 12.9 0.8 2.4 -2.2 64.7 37.2 15.4 2.0 71.4 8.0 32.6 LU6.0 28.9 0.8 -1.5 2.3 0.5 21.4 284.3 18.7 4.8 10.9 67.9 1.4 16.4 HU0.8 -105.7 -0.5 -4.1 1.7 -6.9 -4.4 114.5 80.5 11.0 6.3 62.4 5.2 26.0 MT-0.2 6.3 -0.7 -4.2 5.0 -3.5 5.4 159.8 70.1 6.8 11.0 61.8 3.0 14.0 NL8.6 20.1 -0.3 -3.5 1.2 -4.0 7.6 246.4 61.7 5.0 9.5 78.1b1.6b10.0 AT1.6 -1.9 0.5 -2.5 0.7 3.0 3.0 129.4 82.4 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 -65.8 2.9 6.1 -6.7 -16.0 2.8 73.7 34.0 7.2 4.6 64.1 2.9 23.9 SI0.2 -45.2 -0.7 -1.8 -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 13.7d0.3 68.7b9.2b33.7dFI-1.7 15.1 0.0 -6.1 2.3 0.0 3.6 145.4 48.5 7.8 28.8 74.9 1.7 20.1 SE5.6 -8.5 4.1 -0.2 2.6 0.8 6.9 191.3 37.8 7.8 2.8 79.9 1.5 22.8 UK-2.4 -11.3 0.5 -2.5 -0.1 -5.0 1.6 178.5 80.8 8.1 10.4 75.5 2.7 21.3 Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=sourceNCBforEL.4)Nominalunitlabourcostfor HR d: employment data use national concept instead of domestic concept. 5) Private sector debt, Private sector credit flow, Total financial sector liabilities: significant revisions in the time series of NL due to the 2018 national accounts benchmark revision.      (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 volume exports of goods and services)Year2011External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
Table 6.8: MIP Scoreboard (base indicators) 2010 

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)BE1.8 65.2 -2.6 -6.7 -0.7 1.4 1.7 169.2 99.7 8.3 -1.6 67.7 4.0 22.4 BG-1.7 -91.9 -3.0 -7.8 4.3 -12.3p3.7 132.5 15.3 10.3d-5.4 66.7b4.7b21.9dCZ-3.6 -46.0 1.3 -5.1 0.1 -2.2 2.6 67.9 37.4 7.3 3.2 70.2 3.0 18.3 DK6.6 12.8 -4.4 -9.9 -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 -6.3 -1.2 -0.9 0.0 106.7 81.0 7.0 -1.1 76.7b3.3b9.8 EE1.8 -71.2 -3.8 2.7 -4.6 2.2 -7.6 140.4 6.6 16.7 -8.9 73.9 7.6 32.9 IE-2.0 -114.5 -7.3 -12.9 -8.2 -11.7p2.2 257.0 86.0 14.6 6.3 71.6 6.9 28.1 EL-11.4 -99.0 -1.2 -11.6 1.0 -8.0e2.4 128.1 146.2 12.7 8.4 67.8 5.7 33.0 ES-3.9 -88.6 -3.2 -9.7 -1.6 -3.6 0.9 200.6 60.1 19.9 -1.8 73.5 7.3 41.5 FR-0.6 -9.3 -4.2 -10.5 1.0 3.6 4.6 132.0 85.3 9.3 3.5 69.8e3.9e23.3 HR-1.2 -94.0 -3.4 -12.8 -0.5d-7.7 4.9 125.2 57.3 11.8 3.5 65.1 6.6 32.3 IT-3.4 -20.2 -4.6 -8.7 0.0 -0.7be5.0 123.3 115.4 8.4 4.2 62.0 4.0 27.9 CY-11.3 -111.2 -4.1 -14.9 -0.2 -7.8p15.1 315.6 56.8 6.3 8.4 73.6 1.3 16.6 LV2.1 -82.9 -8.0 -5.0 -9.3 -8.7 2.5 134.0 46.8 19.5 -0.3 73.0 8.8 36.2 LT-1.3 -56.2 -5.4 4.6 -7.0 -8.6 -5.9 74.5 36.2 17.8 0.1 70.2 7.4 35.7 LU6.7 -20.4 -1.7 -8.0 -1.0 4.2 -22.5 284.2 19.8 4.6 13.1 68.2 1.3 15.8 HU0.3 -108.3 1.6 -8.0 -0.3 -5.9 -4.1 115.1 80.2 11.2 -0.3 61.9 5.5 26.4 MT-4.7 12.1 -5.1 -11.0 0.2 -1.0 7.5 162.4 67.5 7.3 12.4 60.4 3.1 14.0 NL7.0 11.0 -3.9 -6.9 -1.3 -3.3 2.8 244.2 59.3 5.0 4.8 78.2b1.2b11.1 AT2.9 -5.2 -3.4 -10.5 0.0 4.4be0.3 132.3 82.7 4.8 -1.9 74.4 1.2 9.5 PL-5.4 -65.1 6.1 -1.8 2.4b-6.0e4.3 69.7 53.1 9.7 13.6 65.3b3.0b23.7 PT-10.1 -104.3 -3.1 -9.1 -1.2 -1.0 5.3 201.5 96.2 12.0 11.5 73.7 5.7 28.2 RO-5.1 -63.9 1.5 -0.5 10.1 -12.7 0.9 74.7 29.7 7.0 5.0 64.9b2.4b22.1 SI-0.1 -47.2 -2.6 -10.0 0.6 -1.3 1.9 115.1 38.4 7.3 -3.4 71.5 3.2 14.7 SK-4.7 -61.9 -4.3 -4.7 -1.1 -4.9 2.9 67.4 41.2 14.5 1.6 68.7 9.2 33.9 FI1.1 16.5 -5.8 -11.9 -1.4 4.8 7.3 148.9 47.1 8.4 19.9 74.5 2.0 21.4 SE6.0 -5.6 6.7 -1.6 -2.6 6.4 5.3 189.1 38.6 8.6 2.7 79.1 1.6 24.8 UK-3.8 -7.6 1.1 -7.6 1.6 4.0 -0.8 184.1 75.2 7.8 7.3 75.4 2.5 19.9 Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforPL;e=sourceNCBforEL,IT,and AT. 4) Nominal unit labour cost for HR d: employment data use national concept instead of domestic concept. 5) Private sector debt, Private sector credit flow, Total financial sector liabilities: significant revisions in the time series of NL due to the 2018 national accounts benchmark revision.      (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 volume exports of goods and services)Year2010External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
Table 6.9: MIP Scoreboard (base indicators) 2009 

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)BE-1.1 57.5 0.5 0.9 3.2 0.0 12.1 172.0 99.5 7.9 0.3 66.9 3.5 21.9 BG-8.3 -97.3 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 1.1 -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 -37.1 -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 -4.1 -13.6 -4.5 256.1 61.5 12.6 3.4 73.0 3.5 24.5 EL-12.3 -87.5 2.4 -5.7 7.1 -4.7e2.2 116.5 126.7 9.6 10.1 67.4b3.9b25.7 ES-4.3 -93.5 0.4 2.1 1.6 -5.8 -1.2 201.6 52.8 17.9 3.8 73.1 4.3 37.7 FR-0.6 -14.8 0.4 0.5 3.4 -4.7 3.3 130.6 83.0 9.1 -0.6 69.8e3.3e23.6 HR-5.3 -86.8 1.4 -0.9 6.8d-8.0 2.6 118.9 48.3 9.3 4.5 65.6 5.1 25.4 IT-1.9 -22.3 1.3 -5.1 4.6 -0.2e0.8 122.5 112.5 7.7 5.1 62.3 3.4 25.3 CY-7.7 -100.3 1.0 12.7 7.9 -6.9 13.3 306.0 54.3 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 -58.7 6.8 -11.7 -1.7 -32.8 -9.4 83.3 28.0 13.8 -4.3 69.6 3.3 29.6 LU7.2 -28.9 0.9 2.5 7.4 -0.6 7.4 332.2 15.7 5.1 6.8 68.7b1.2b16.5 HU-0.8 -115.0 -5.3 -3.5 2.9 -8.9 6.1 116.5 77.8 10.0 1.9 61.2 4.2 26.4 MT-6.6 12.6 0.7 16.9 5.6 -6.1 12.7 168.1 67.6 7.3 4.3 59.4 2.9 15.2 NL5.4 1.4 1.9 0.4 5.5 -3.0 9.7 245.4 56.8 4.4 8.4 79.7 0.8 10.2 AT2.6 -5.0 1.1 -1.9 5.1 3.6e1.3 131.9 79.9 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 8.1d9.0 64.7 2.5 20.6dPT-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-4.7 -60.1 -7.2 0.5 1.4 -26.5e-1.6 69.8 22.1 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 FI1.6 3.2 3.2 -11.3 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 5.9 201.6 41.3 8.3 3.5 78.9 1.1 25.0 UK-3.9 -15.7 -9.3 0.2 5.2 -9.7 -3.9 190.9 63.7 7.6 -17.0 75.7 1.9 19.1 Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforPLandRO;e=sourceNCBfor EL, IT, and AT. 4) Nominal unit labour cost for HR d: employment data use national concept instead of domestic concept. 5) Private sector debt, Private sector credit flow, Total financial sector liabilities: significant revisions in the time series of NL due to the 2018 national accounts benchmark revision.      (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 volume exports of goods and services) Year2009External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
Table 6.10: MIP Scoreboard (base indicators) 2008 

186 

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 1.1 16.5 162.7 92.5 7.0 -4.4 67.1 3.3 18.0 BG-22.0 -93.9 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 -0.3 0.5 109.7 65.2 7.4 4.6 75.9 3.9 10.4 EE-8.7 -75.4 6.6 0.9 16.7 -16.5 10.5 136.7 4.5 5.5d4.3 74.2 1.7 12.0dIE-6.9 -95.7 3.6 -6.9 8.0 -8.4 22.0 236.4 42.4 6.8 6.5 74.8 1.7 13.5 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 11.7 195.9 39.5 11.3 3.8 72.7 2.0 24.5 FR-0.7 -13.8 1.6 -2.4 2.9 -1.9 9.8 122.4 68.8 7.4 2.1 69.4e2.9e19.0 HR-9.0 -73.8 4.0 1.5 5.2d-2.6e16.1 110.8 39.0 8.6 -8.1 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 -1.5 62.9 3.0 21.2 CY-15.5 -79.1 3.2 -5.9e3.1 0.9 29.8 285.0 45.6 3.7 115.6 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 -51.9 6.1 20.0 9.7 -1.8 10.4 76.7 14.6 5.8 4.6 68.4 1.3u13.3 LU7.6 16.3 2.0 -3.6 9.1 0.2 -5.6 302.7 14.9 4.9 -6.9 66.8 1.6 17.3 HU-7.0 -101.7 2.5 3.6 4.3 -3.2 12.6 105.0 71.6 7.8d26.1 61.2 3.6 19.5dMT-1.1 4.2 3.8 14.3 3.2 7.1 13.4 153.3 62.6 6.5 13.2 59.1 2.6 12.4 NL5.0 -8.0 0.6 -0.2 3.5 0.1 12.0 230.5 54.7 3.7 2.6 79.3 0.9 8.6 AT4.5 -10.0 0.3 -2.4 3.7 -1.1e5.4 126.7 68.7 4.1 10.9 73.9 1.0 8.5 PL-6.7 -55.6 8.8 7.6 7.8 -4.6e14.2 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-11.5 -51.2 -5.4 14.1 23.8 :12.7 63.9 12.4 5.6 14.0 62.9 2.4 17.6 SI-5.3 -39.4 1.6 -0.6 6.4 1.4 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 FI2.1 -4.6 1.6 -0.1 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 18.9 189.1 37.7 6.2 12.0 79.3 0.8 20.2 UK-4.6 9.7 -13.1 -11.0 1.8 -8.2 12.8 189.6 49.7 5.6 46.7 75.8b1.4b15.0 Flags: b: Break in series. d: Definition differs. e: Estimated. p: Provisional. u: Low reliability. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofEurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=NSIestimatesforCZandPL;e=sourceNCBfor EL, HR, IT, AT and PT. 4) Nominal unit labour cost for HR d: employment data use national concept instead of domestic concept. 5) Private sector debt, Private sector credit flow, Total financial sector liabilities: significant revisions in the time series of NL due to the 2018 national accounts benchmark revision.      (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 volume exports of goods and services)Year2008External imbalances and competitivenessInternal imbalancesEmployment indicators¹