COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE Alert Mechanism Report 2022 Prepared in accordance with Articles 3 and 4 of Regulation (EU) No 1176/2011 on the prevention and correction of macroeconomic imbalances
Date: 2021-11-24
Institutions: Directorate-General for Economic and Financial Affairs, European Commission
Subjects: coronavirus disease, economic disparity, economic growth, economic recovery, economic statistics, epidemic, euro area, macroeconomics, multilateral surveillance, national accounts, public debt

EN 

  EN 

   EUROPEAN COMMISSION  Brussels, 24.11.2021  SWD(2021) 361 final  COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE Alert Mechanism Report 2022           Prepared in accordance with Articles 3 and 4 of Regulation      (EU) No 1176/2011 on the prevention and correction of macroeconomic imbalances {COM(2021) 741 final}  
 
 
European 
Commission 

                     Statistical Annex of 
                       Alert Mechanism Report 2022 

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

 
 
 
 
 
 
 
 
 
 
 
 
                    
 
 
 
 
 
 
 
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 2020 ................................................................................................................. 15 

Table 1.2: MIP Scoreboard 2019 ................................................................................................................. 16 

Table 1.3: MIP Scoreboard 2018 ................................................................................................................. 17 

Table 1.4: MIP Scoreboard 2017 ................................................................................................................. 18 

Table 1.5: MIP Scoreboard 2016 ................................................................................................................. 19 

Table 1.6: MIP Scoreboard 2015 ................................................................................................................. 20 

Table 1.7: MIP Scoreboard 2014 ................................................................................................................. 21 

Table 1.8: MIP Scoreboard 2013 ................................................................................................................. 22 

Table 1.9: MIP Scoreboard 2012 ................................................................................................................. 23 

Table 1.10: MIP Scoreboard 2011 ............................................................................................................... 24 

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

Table 2.1: Auxiliary indicators, 2020 .......................................................................................................... 25 

Table 2.1 (continued): Auxiliary indicators, 2020....................................................................................... 26 

Table 2.2: Auxiliary indicators, 2019 .......................................................................................................... 27 

Table 2.2 (continued): Auxiliary indicators, 2019....................................................................................... 28 

Table 2.3: Auxiliary indicators, 2018 .......................................................................................................... 29 

Table 2.3 (continued): Auxiliary indicators, 2018....................................................................................... 30 

Table 2.4: Auxiliary indicators, 2017 .......................................................................................................... 31 

Table 2.4 (continued): Auxiliary indicators, 2017....................................................................................... 32 

Table 2.5: Auxiliary indicators, 2016 .......................................................................................................... 33 

Table 2.5 (continued): Auxiliary indicators, 2016....................................................................................... 34 

Table 2.6: Auxiliary indicators, 2015 .......................................................................................................... 35 

Table 2.6 (continued): Auxiliary indicators, 2015....................................................................................... 36 

Table 2.7: Auxiliary indicators, 2014 .......................................................................................................... 37 

Table 2.7 (continued): Auxiliary indicators, 2014....................................................................................... 38 

Table 2.8: Auxiliary indicators, 2013 .......................................................................................................... 39 

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Table 2.8 (continued): Auxiliary indicators, 2013....................................................................................... 40 

Table 2.9: Auxiliary indicators, 2012 .......................................................................................................... 41 

Table 2.9 (continued): Auxiliary indicators, 2012....................................................................................... 42 

Table 2.10: Auxiliary indicators, 2011 ........................................................................................................ 43 

Table 2.10 (continued): Auxiliary indicators, 2011..................................................................................... 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 

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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 

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 (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 Czech Republic ................................................................................... 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 

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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 

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 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Table 5.13: Auxiliary indicators for Cyprus .............................................................................................. 144 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Chapter 6: Tables by year - MIP Scoreboard (base indicators) ............................................................. 174 

Table 6.1: MIP Scoreboard (base indicators) 2020 ................................................................................... 174 

Table 6.2: MIP Scoreboard (base indicators) 2019 ................................................................................... 175 

Table 6.3: MIP Scoreboard (base indicators) 2018 ................................................................................... 176 

Table 6.4: MIP Scoreboard (base indicators) 2017 ................................................................................... 177 

Table 6.5: MIP Scoreboard (base indicators) 2016 ................................................................................... 178 

Table 6.6: MIP Scoreboard (base indicators) 2015 ................................................................................... 179 

Table 6.7: MIP Scoreboard (base indicators) 2014 ................................................................................... 180 

Table 6.8: MIP Scoreboard (base indicators) 2013 ................................................................................... 181 

Table 6.9: MIP Scoreboard (base indicators) 2012 ................................................................................... 182 

Table 6.10: MIP Scoreboard (base indicators) 2011 ................................................................................. 183 

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BACKGROUND INFORMATION 

This  Statistical  Annex  to  the  2022  Alert  Mechanism  Report  (AMR  2022)  presents  the 
Macroeconomic Imbalance Procedure (MIP) scoreboard and auxiliary indicators used in the 
economic reading of the MIP scoreboard. The Statistical annex covers the years from 2011 
to 2020. Eurostat mainly compiles MIP indicators from 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  14  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  22nd  October  2021.  For 
additional information about the data, please contact ESTAT-MIP@ec.europa.eu. 

Table 1. MIP scoreboard indicators (AMR 2022) 

Indicator 

Unit 

Data source 

Statistical domain 

Current account balance (% of GDP) 

3 year average 

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

% of GDP 

3 year % change 

DG ECFIN 

5 year % change  

Eurostat, IMF 

Nominal unit labour cost index (2010=100) 

3 year % change 

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) 

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

1 year % change  

3 year change in pp 

Eurostat 

3 year change in pp 

Eurostat 

3 year change in pp 

Eurostat 

Eurostat 

Eurostat 

Eurostat 

Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 

Eurostat 

BoP/NA 

BoP/NA 

BoP 

NA 

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

NA (FA) 

EU-LFS 

EU-LFS 

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, 

8 

 
 
 
 
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). 

Table 2. MIP auxiliary indicators (AMR 2022) 

Indicator 

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

Unit 

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 

Real effective exchange rates – euro area trading 
partners 
Export performance against advanced economies 

3 year % change 

5 year % change 

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 

5 year % change 
1 year % change 

1 year % change 
% of gross loans 

10 year % change 

House price index (2015=100) - nominal 

3 year % change 

Residential construction 
Household debt, consolidated (incl. NPISH) 
Consolidated banking leverage 

Employment 
Activity rate 

Long term unemployment rate 

Youth unemployment rate 

in 

in  employment  nor 

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  

% of GDP 
% of GDP 
Total asset/ 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 

Data 
source 

Eurostat 
Eurostat 
Eurostat 

Eurostat 
Eurostat 

Statistical 
domain 

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

Eurostat 

BoP/NA 

Eurostat 

BoP/NA 

Eurostat 

DG 
ECFIN 
Eurostat/
OECD 
Eurostat 
Eurostat 
/IMF 
Eurostat 
ECB 

DG 
ECFIN 
Eurostat 

Eurostat 
Eurostat 
ECB 

Eurostat 
Eurostat 

International 
Trade/ NA 

BoP 

NA 

NA 
CBD 

Price 
statistics 
NA 
NA (FA) 
CBD 

NA 
EU-LFS 

Eurostat 

EU-LFS 

Eurostat 

EU-LFS 

Eurostat 

EU-LFS 

Eurostat 
Eurostat 
Eurostat 
Eurostat 

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

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 Conditions 

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. 

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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,  6th 
edition) that guarantee a high level of comparability across European Union Member States.  

The  implementation  of  the  standards  ensures  conceptual  consistency  between  National 
Accounts  and  Balance  of  Payments  /  International  Investment  Position.  However,  in 
practice,  differences  in  the  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,  and  regularly  assesses  the  state  of 
consistency between Balance of Payments and National Accounts statistics.  

Additional changes in 2020 

Concerning the COVID-19 pandemic, which impacted the ability of statistical authorities to 
collect and process data in the traditional manner, Eurostat and national statistical authorities 
in the European Statistical System  (ESS) have worked together to  elaborate guidelines and 
notes1 on how to address the methodological issues triggered by these changes in statistical 
production.  This  ensured  that  European  statistics  continued  to  be  based  on  sound 
foundations.  

The COVID-19 pandemic’s impact on 2020 economic data was substantial. Notably, drops 
in GDP were sharper than during the 2008/9 economic and financial crisis in most countries, 
with  the  highest  contractions  in  the  output  of  trade,  transport,  accommodation  and  food 
service  activities,  as  well  as  industry,  and  impacts  on  both  external  trade  and  private 
consumption  (on  the  expenditure  side).  This  impacted  on  indicators  expressed  as  a 
percentage of GDP. There was also a large impact of COVID-19 on the employment data, 
especially  for  hours  worked,  while  employment  in  persons  decreased  less,  due  to  the 
government  support  measures  to  preserve  employment.  Therefore,  labour  productivity  and 
unit labour cost should be interpreted with caution for 2020, especially for indicators based 
on employed persons rather than hours worked. 

The  implementation  of  the  harmonised  European  revision  policy  (HERP)  for  National 
Accounts  and  Balance  of  Payments  statistics  covering  benchmark  and  routine  revisions  is 
progressing  on  a  voluntary  basis2.  All  Member  States3  have  now  carried  out  benchmark 
revisions  since  the  introduction  of  ESA  2010  in  September  2014,  with  Luxembourg 
completing the exercise in September 2021.  

While  the  introduction  of  benchmark  revisions  is  usually  associated  with  more  significant 
data  updates,  such  revisions  improve  the  overall  quality  and  consistency  of  data  through 
further  improvements  in  the  methodology,  sources  or  estimation  techniques  applied.  The 
revisions  often  relate  to  statistical  improvements  and  actions  agreed  in  the  context  of  the 
verification of GNI and/or EDP data. The coordinated benchmark revisions were considered 

1 https://ec.europa.eu/eurostat/data/metadata/covid-19-support-for-statisticians  
2 Information on data revisions and on the publication of benchmark data is available on the Eurostat website: 
https://ec.europa.eu/eurostat/web/esa-2010/esa-2010-implementation-and-data-quality and 
https://ec.europa.eu/eurostat/documents/737960/9861115/Benchmark_revisions_2019.pdf  
3 Greece has still to complete its revision for back years prior to 2010. 

10 

 
 
                                                           
successfully  implemented  and  improved  the  quality  of  the  accounts.  The  good  practices 
developed will be retained for the next harmonised benchmark revisions in 2024. 

The  COVID-19  crisis  has  impacted  the  compilation  of  Balance  of  Payments  statistics. 
Eurostat and ECB jointly published on 1 July 2020 a note “Guidance on the compilation of 
balance of payments statistics in the context of the Covid-19 crisis”. This joint guidance note 
elaborated on common and alternative data sources that can be used to compile the Balance 
of  Payments  statistics.  It  provided  additional  advice  on  data  collection  and  compilation  to 
ensure continuity; and provided guidance on data and metadata dissemination. 

In the Balance of  Payments domain, progress has been made in particular concerning the 
asymmetries  in  trade  in  goods  and  services.  In  summer  2020,  Eurostat  launched  a 
comprehensive  survey  on  asymmetries  in  services,  in  which  thirty  countries  participated. 
The  survey  elaborates  on  data  sources  used  by  countries,  and  their  contribution  to  the 
reported  values  (impact)  on 
the  compilation  of  Extended  Balance  of  Payments 
Services (EBOPS) categories. Based on the results, in close cooperation with the Balance of 
Payments  Working  Group,  Eurostat  has  broadened  the  scope  of  its  work  and  intends  to 
publish  an  “Inventory  of  identified  causes  of  asymmetries  in  trade  in  goods  and  services, 
primary income, and foreign direct investments, and the related methodology”.  

In  addition,  Asymmetries  Resolution  Meetings  (ARM)  are  set  up  by  ECB  and  Eurostat  in 
the context of the quarterly BOP production.  The purpose of ARM is to facilitate  bilateral 
and/or multilateral reconciliation exercises to reduce bilateral asymmetries in foreign direct 
investment. 

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  derivatives,  of  loans 
between  non-financial  corporations,  of  foreign-controlled  corporations,  and  of  the  vertical 
discrepancy  with  non-financial  sector  accounts.  On  the  latter,  Eurostat  and  the  ECB  are 
cooperating  in  order  to  develop  methodology  and  propose  a  solution  for  reducing  the 
discrepancies.  It  is  aimed  to  further  align  the  national  revision  policies  and  practices  in 
financial accounts to the harmonized European revision policy.  

Concerning 
the  Labour  Force  Survey,  no  major  methodological  changes  were 
implemented  during  2020.  In  view  of  the  entry  into  force  of  the  Framework  Regulation 
2019/1700  (IESS  FR)  in  the  beginning  of  2021,  all  countries  postponed  methodological 
changes,  in  order  to  introduce them  together  with  the  new  standards  provided  by  the 
regulation.  An  exception  is  the  German  data,  due  to  the  introduction  of  the  new  German 
system  of  integrated  household  surveys,  including  the  LFS.  German  2020  data  are  not 
directly  estimated  from  LFS  micro-data,  but  are  based  on  a  larger  sample  including 
additional  data  from  other  integrated  household  surveys,  with  the  intention  to  return  to 
purely LFS-based data as soon as possible.  

Nevertheless, the spread of COVID-19 across Europe implied that field activities have been 
halted in many countries. This has negatively impacted the collection of household survey 
data  during  2020  and  put  simultaneous  pressures  on  the  producers  of  EU-LFS  data:  data 
collection impacted by decreases in the overall volume of attempted interviews, higher non-
response and changes in the shares of interview modes. At the same time, the real impact of 

11 

 
 
the  crisis  has  led  to  large  shifts  in  the  labour  market,  with  loss  of  labour  inputs  both  in 
headcounts and in working hours. The European Statistical System reacted quickly, with the 
purpose of providing data allowing the users to evaluate these shifts, and compare data over 
time and between countries. Eurostat drafted a series of methodological papers to guide, in a 
harmonised  way,  the  reactions  of  the  EU  National  Statistical  Institutes  to  the  COVID-19 
crisis.  

In  the  House  Prices  domain,  the  index  for  France  has  been  slightly  revised  for  the  years 
2011 to 2019 following an improvement in the estimation methods for the weights for new 
and existing dwellings.  

General Government Gross Debt data notified for the years 2017 to 2020 were released on 
21 October 2021 within the EDP notification. For more information on  the main revisions 
between the April 2021 and the October 2021 notifications please see the latest EDP news 
release.  

Timeliness  and  availability  of  general  government  gross  debt  data  remained  generally 
excellent  despite  the  COVID-19  pandemic-related  challenges.  Extensive  guidance  on  the 
recording  of  policy  measures  to  combat  the  effects  of  the  COVID-19  pandemic  was 
developed  and  a  specific  reporting  template  aided  in  maintaining  the  accuracy  of  data 
reported. 

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 
ESS and in part by the European System of Central Banks (ESCB). 

In 2020, the Economic and Financial Affairs Council (ECOFIN)4 welcomed the progress on 
quality  assurance  of  statistics  underlying  the  MIP,  and  appreciated  the  annual  ESS-ESCB 
quality  assessment  report  on  MIP  statistics  by  Eurostat  and  the  ECB,  taking  note  of  the 
actions identified therein.  

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  webpage5  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 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 

4 Council conclusions of ECOFIN Council meeting on 6 November 2020 - 
https://data.consilium.europa.eu/doc/document/ST-12693-2020-INIT/en/pdf 
5 https://ec.europa.eu/eurostat/web/macroeconomic-imbalances-procedure/quality 

12 

 
 
                                                           
MIP underlying statistics and address the most relevant quality issues. The seventh 
report was published on 7 July 2021 on the websites of Eurostat, the ECB, and of 
the  Committee  on  Monetary,  Financial  and  Balance  of  Payments  Statistics 
(CMFB).  The  report  relates  to  recent  developments,  with  a  clear  separation  from 
more permanent features. 

 

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)  (Eurostat)  and  Financial 

Accounts (ECB) 

  Balance  of  Payments  and  International  Investment  Position  statistics 

(Eurostat, ECB) 

  House Price Statistics (Eurostat) 

  Labour Force Survey (Eurostat) 

In line with the legal requirements of quality reporting for national and regional accounts6, 
the fourth annual Eurostat quality report was published on 18 December 20207, and covered 
data  transmissions  in  2019  in  line  with  the  ESA  2010  transmission  programme.  The  fifth 
quality report, based on 2020 data, is close to completion.  The Eurostat quality report also 
explicitly  covers  data  underlying  the  MIP  indicators.  In  2021,  the  complete  set  of  quality 
indicators  was  applied  for  the  assessment  of  2020  data  transmissions,  in  line  with  the 
implementing  regulation.  An  overview  on  ESA  2010 
requirements  of 
implementation and quality is available on the Eurostat website8. All ESA 2010 derogations 
expired on 1 January 2020. Eurostat is  closely monitoring remaining compliance gaps and 
encouraging countries to address them urgently. 

the  2016 

The  implementation  of  the  alignment  of  the  existing  Quality  Reports  on  Balance  of 
Payments/International  Investment  Position  produced  by  the  ESS  and  the  ESCB  has  been 
achieved. 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 harmonized to a large extent.  

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 website9. 

6 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. 
7 Quality report on national and regional accounts — 2019 data — 2020 edition - Products Statistical reports - 
Eurostat (europa.eu)  
8 ESA 2010 implementation and data quality - ESA 2010 - Eurostat (europa.eu)  
9 https://ec.europa.eu/info/files/report-quality-sources-and-methods_en  

13 

 
 
                                                           
 

Level 3: development of condensed country specific self-assessment reports on the 
quality and statistical processes for statistics underlying the MIP indicators that 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.  The  latest  updates  to  the  level  3  are  usually 
published on the CMFB website10; in particular, House Price Statistics reports were 
updated in 2020 and Financial Accounts ones in 2021, for almost all countries.  

Moreover, in the context of the MoU, joint ECB-Eurostat visits to the Member States have 
taken  place,  focusing  on  Balance  of  Payments  and  Financial  Accounts.  The  next  visit  is 
planned to Finland in 2022. 

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, and 
finally Chapter 6 illustrates untransformed scoreboard indicators by year. 

10 https://www.cmfb.org/main-topics/mip-quality 

14 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                           
Chapter 1: Tables by year - Headline indicators  
Table 1.1: MIP Scoreboard 2020   

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 ppBE0.1 44.4 2.5 10.9 7.5p3.61.1p192.0p112.8 5.7 8.8 0.6b-1.2 -4.0 BG0.8 -26.3 7.1 16.0 20.4 5.2p4.2 94.3 24.7 4.8 11.1 0.9 -1.1 1.3 CZ1.5 -12.5 5.6 10.1 19.2 5.52.4 81.9 37.7 2.3 3.4 0.5 -0.4 0.1 DK8.1 68.8 0.9 11.5 6.2 4.64.8 220.9 42.1 5.2 5.7 1.1b-0.3 -0.8 DE7.4 61.7 2.4 1.3 11.1p7.16.0p120.1p68.7 3.4bp11.3 1.1bp-0.5bp0.6bpEE1.0 -21.5 5.3 17.6 17.1 6.93.6 104.4 19.0 5.5 17.5 0.5 -0.7 5.8 IE-5.8 -174.0 -1.2 50.0 -6.3 -0.2-1.8 188.9 58.4 5.5 7.2 -0.8 -1.7 0.9 EL-3.7 -175.0 0.4 -10.1 6.4p5.5e5.4p125.3p206.3 17.6 27.4 -0.9 -4.7 -8.6 ES1.6 -85.5 1.1 -6.8 11.0p2.24.4p146.4p120.0 15.0 9.5 -1.7 -2.7 -0.3 FR-1.0 -30.2 2.7 -6.9 4.6p4.413.0p173.7p115.0 8.5 11.6p-0.5 -1.3 -1.9 HR1.6 -47.8 0.5 0.1 13.7p7.31.3p98.0p87.3 7.5 7.3 0.7 -2.5 -6.3 IT3.2 2.4 0.6 -2.8 5.5 2.24.1 118.9 155.6 9.9 6.8 -1.3 -1.8 -5.3 CY-6.6 -136.7 0.1 28.5 5.8p0.7p-2.6p260.5p115.3 7.7 -2.5 1.9 -2.4 -6.5 LV0.7 -34.7 5.9 18.2 18.4 2.7-1.8 66.5 43.2 7.3 10.8 1.2 -1.1 -2.1 LT3.7 -15.8 6.9 39.3 18.3 6.40.3 54.7 46.6 7.0 28.5 2.6 -0.2 6.3 LU4.5 39.9 1.5 20.6 11.1 13.844.5 316.8 24.8 6.0 -3.6 2.0 -0.4 7.8 HU-0.7 -48.1 -4.9 8.2 13.2p1.9p7.7p76.4p80.1 3.8 55.3 1.6 -0.6 2.1 MT3.0 60.3 2.1 13.2 19.7 2.2p9.0 139.1 53.4 3.9 1.9 4.9 -0.9 0.3 NL9.1 113.9 3.8 7.4 14.0p6.0p-1.3p233.7p54.3 3.7 3.3p1.2 -1.0 0.2 AT1.6 9.3 3.2 5.2 12.2 6.24.7 131.2 83.2 4.9 10.6 0.2 -0.5 0.7 PL0.7 -44.5 1.1 36.9 12.3p7.1p1.5 75.9 57.4 3.5 11.7 1.4 -0.9 -4.0 PT0.0 -106.4 0.0 -0.9 16.2p7.74.4p163.7p135.2 6.8 7.2 -0.4 -2.2 -1.3 RO-4.9 -48.3 3.4 20.6 26.1p2.31.3p48.5p47.4 4.4 13.4 1.9 -0.5 -1.0 SI6.4 -15.2 1.9 20.2 14.9 5.2-0.9 69.7 79.8 4.9 14.0 0.4 -1.2 3.0 SK-1.8 -65.7 5.3 8.1 16.4 7.23.7 95.3 59.7 6.3 9.9 0.3 -1.9 0.4 FI-0.4 -5.3 2.3 12.3 6.1 1.36.5 155.2 69.5 7.3 7.7 1.6 -0.9 1.3 SE4.6 16.4 -4.8 4.5 9.4 3.011.6 215.7 39.7 7.2b11.2 0.0 -0.1 6.0 Year2020External imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. p:Provisional. e:Estimated. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=estimatebyNCBforEL.3)LabourForceSurveyindicators,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfrom LFS micro-data, but based on a larger sample including additional data from other integrated household surveys.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 1.2: MIP Scoreboard 2019   

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 ppBE0.0 41.1 2.7 -2.5 4.9 2.67.6 186.6 97.7 6.2b4.8 1.4 -1.7 -5.9 BG2.0 -30.2 4.6 15.3 20.4 3.95.6 90.7 20.0 5.2 5.2 4.5 -2.1 -8.3 CZ0.8 -19.8 8.7 5.0 14.6 6.21.4 78.6 30.0 2.4 4.6 1.7 -1.1 -4.9 DK8.0 77.5 -0.2 2.8 2.7 1.610.7 221.0 33.6 5.3b13.1 1.6b-0.4 -2.1 DE7.7 58.8 2.0 -1.2 7.9p4.45.8p110.7p58.9 3.4 7.4 1.3 -0.5 -1.3 EE1.9 -22.8 6.1 1.9 15.4 4.43.4 99.0 8.6 5.2 11.7 1.4 -1.2 -2.3 IE-4.7 -193.5 -1.4 73.4 -4.3 0.3-9.6 209.4 57.2 5.8 15.3 0.6 -2.6 -4.3 EL-2.1 -154.2 0.5 3.4 -1.4p7.2e-0.9p110.5p180.7 19.4 11.8 0.2 -4.8 -12.1 ES2.3 -75.0 1.7 2.5 5.0p4.11.1p128.6p95.5 15.5 0.7 -0.4 -4.2 -11.9 FR-0.6 -25.3 1.6 -0.4 0.9p2.57.9p152.5p97.5 8.9 7.3 0.3 -1.2 -5.0 HR2.8 -46.7 1.5 22.3 2.8p7.81.2 88.3 71.1 8.8 6.7 0.9 -4.2 -14.7 IT2.8 -1.0 0.2 -2.2 3.3 -0.70.3 106.1 134.3 10.6 4.6 0.8 -1.1 -8.6 CY-4.9 -116.1 0.0 23.1 5.3 2.61.7 249.9 91.1 8.9 5.6 2.6 -3.7 -12.5 LV0.1 -40.1 3.8 3.4 15.4 5.81.1 66.2 36.7 7.5 4.6 1.0 -1.6 -4.9 LT1.4 -24.0 3.8 16.4 16.7 4.62.6 55.3 35.9 6.5 6.2 2.5 -1.1 -2.6 LU4.7 58.2 2.0 10.7 12.4 8.319.6 302.0 22.3 5.6 3.8 2.0 -0.9 -1.9 HU0.5 -48.7 0.4 5.2 11.8 11.83.9 67.1 65.5 3.8 36.7 2.5 -1.3 -1.5 MT5.9 53.2 1.8 20.7 6.6 4.210.2 121.3 40.7 3.8 7.1 5.3 -1.5 -1.4 NL10.3 89.9 2.4 -0.1 5.8p4.6-0.1 232.3p48.5 4.0 6.3p1.2 -1.5 -4.1 AT1.5 13.5 2.1 0.9 5.7 4.05.0 121.5 70.6 5.0 4.3 0.9 -0.8 -2.7 PL-0.4 -49.8 2.8 24.9 8.1 6.13.6 73.9 45.6 4.0 4.3 1.8 -1.5 -7.8 PT0.8 -100.0 -0.3 8.5 8.5 8.72.6 149.5 116.6 7.5 -0.2 1.8 -3.4 -9.7 RO-4.2 -43.6 0.2 17.6 26.3 -1.92.0 46.7 35.3 4.3 10.3 3.0 -1.3 -3.8 SI6.1 -15.9 1.0 16.0 8.2 5.30.8 68.8 65.6 5.4 9.9 3.6 -2.4 -7.1 SK-2.5 -65.9 2.6 1.5 14.3 6.24.3 92.1 48.1 6.8 5.6 0.8 -2.4 -6.1 FI-1.0 4.0 0.1 3.3 1.1 0.06.5 146.6 59.5 7.6 7.8 2.4 -1.1 -2.9 SE3.7 17.7 -8.3 -2.8 7.1 0.49.9 203.2 34.9 6.6b10.7 0.8 -0.4 1.2 Year2019External 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 = estimate by NCB for EL. 3) Unemployment rate, b = change in the survey methodology for BE; b = data collection improvement, introduction of CAWI (computer-assisted web interviewing) technique for DK.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 1.3: MIP Scoreboard 2018   

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 ppBE0.1 34.3 7.0 -1.3 3.9 0.82.6 184.6 99.9 7.0b-3.3 1.0 -1.5 -6.3 BG2.4 -37.0 4.2 13.1 20.5 4.13.9 95.0 22.1 6.3 6.6 2.2 -2.6 -8.9 CZ1.3 -24.4 11.0 11.1 13.1 5.96.8 83.0 32.1 3.0 3.4 2.6 -1.7 -5.9 DK7.7 64.0 2.6 0.0 1.2 3.74.8 215.3 34.0 5.6b-0.3 1.3 -0.6 -1.7 DE8.1 52.6 5.3 3.3 5.9p5.16.1p107.7p61.3 3.8 1.9 1.0 -0.6 -1.0 EE1.4 -30.0 7.6 -0.3 13.0 2.24.6 101.7 8.2 6.0 6.6 2.4 -1.1 -1.3 IE0.5 -183.6 2.3 78.5 -1.7 8.1-8.8 231.2 63.1 7.0 5.2 0.8 -3.2 -6.4 EL-2.2 -148.6 3.8 6.4 -1.0 1.7e-0.9 119.2 186.4 21.5 -4.9 0.4 -4.6 -9.9 ES2.6 -80.1 4.2 4.4 1.0 5.20.0 132.7 97.5 17.4 -1.8 -0.6 -5.0 -14.0 FR-0.7 -19.3 4.5 0.6 2.4 1.28.2 148.3 97.8 9.5 1.7b0.6 -0.8 -3.9 HR2.5 -55.7 4.2 22.4 -0.1p4.62.2 92.0 73.3 10.9 4.5 -0.6 -6.8 -18.6 IT2.6 -4.3 3.4 -0.2 2.3 -1.52.0 107.8 134.4 11.2 0.0 1.6 -0.7 -8.1 CY-4.4 -125.6 2.0 21.9 -0.4 0.511.5 282.9 98.4 10.8 -1.8 1.1 -4.1 -12.6 LV0.9 -45.2 5.1 8.5 14.7 6.3-0.2 69.7 37.1 8.6 -3.5 2.0 -1.4 -4.1 LT-0.1 -30.5 6.6 3.0 16.4 4.54.3 56.1 33.7 7.1 9.1 3.2 -1.9 -5.2 LU4.7 33.0 3.3 14.3 8.7 5.15.2 282.7 20.8 5.8 -1.1 0.2b-0.5 -3.1 HU2.2 -50.7 2.0 8.3 12.4 10.74.2 68.7 69.1 4.3 -9.1 3.3 -1.7 -7.1 MT3.9 55.4 4.5 19.1 9.6 5.06.9 121.3 43.6 4.1 2.7 5.9 -0.9 -2.5 NL9.9 72.8 3.3 1.6 3.7 7.15.6 243.6 52.4 4.9 -2.8 0.7 -1.6 -4.1 AT1.7 6.0 4.8 2.8 4.9 2.64.9 122.7 74.0 5.5 -0.8 1.3 -0.3 -1.2 PL-0.8 -55.9 0.1 26.5 8.0 4.83.7 76.8 48.8 5.0 3.3 2.0 -2.0 -9.1 PT1.0 -106.4 3.3 8.6 6.3 8.60.8 155.1 121.5 9.1 0.4 1.7 -4.1 -11.7 RO-3.1 -43.8 -0.7 23.5 29.3 1.71.9 47.5 34.7 5.0 3.4 1.7 -1.2 -5.5 SI5.6 -18.9 2.0 19.6 5.7 6.61.3 72.6 70.3 6.6 4.1 3.2 -2.5 -7.5 SK-2.3 -69.8 2.5 2.1 11.6 4.97.3 91.9 49.6 8.1 9.0 1.5 -3.6 -11.6 FI-1.5 -5.6 2.9 -4.1 -2.0 -0.24.3 144.5 59.8 8.3 20.1 2.1 -0.7 -5.4 SE2.7 8.0 -4.0 -6.7 8.0 -3.39.0 201.0 38.9 6.7b-2.7 1.0b-0.4b-3.0bEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=estimatebyNCBforEL.3)InTotalfinancialsectorliabilities,theincreaseforFIislargelyexplainedbyinternationalgroupchangesinthedeposit-takingcorporationssector.4)Unemploymentrate,b=changeinthesurveymethodologyforBE;b=data collection improvement, introduction of CAWI (computer-assisted web interviewing) technique for DK.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)Year2018External imbalances and competitivenessInternal imbalances 
 
 
 
 
 
Table 1.4: MIP Scoreboard 2017   

18 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4%/+6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE0.9 56.0 0.9 1.6 1.4 1.72.0 187.8 102.0 7.8b1.4 0.3b-0.8b-3.9bBG2.1 -43.0 -3.3 20.1 15.8 3.94.5 98.6 25.1 7.7 7.1 2.3 -3.5 -10.9 CZ1.3 -24.9 5.3 8.3 5.7 9.16.0 80.3 34.2 4.0 28.3 2.4 -1.7 -8.0 DK8.0 55.4 -2.1 1.5 0.9 3.52.0 216.7 35.9 6.0b2.5 1.3b-0.5b-1.8bDE8.3 42.0 -2.0 5.7 4.9 4.64.1 106.6 64.7 4.2 4.1 0.5 -0.6 -0.9 EE1.8 -33.0 3.0 1.7 12.3 1.14.2 106.2 9.1 6.3 12.3 3.6 -1.4 -2.9 IE0.2 -167.3 -6.3 70.9 -14.4 9.80.3 249.8 67.8 8.4 4.2 0.9 -3.6 -9.0 EL-1.5 -143.4 -3.0 -0.6 -3.3 -1.4e-1.2 120.6 179.5 23.3 -12.8 0.9 -3.9 -8.8 ES2.7 -85.5 -2.6 9.5 -0.6 4.60.6 139.2 98.6 19.6 4.3 -0.3 -5.2 -14.6 FR-0.5 -20.1 -3.0 2.5 1.7 2.37.1 145.0 98.1 10.0 4.3 0.5 -0.3 -2.1 HR3.0 -64.2 0.1 23.0 -4.0p2.91.5 96.3 76.7 13.5 3.9 0.3 -5.5 -18.1 IT2.2 -7.0 -3.1 0.6 1.2 -2.11.2 109.4 134.2 11.6 1.9 1.5 -1.2 -8.0 CY-3.2 -136.1 -6.4 21.1 -4.6 1.27.4 304.3 92.9 13.0 0.8 -0.4 -3.2 -11.3 LV0.7 -51.4 1.7 7.3 14.2 5.32.7 75.6 39.0 9.4 6.2 2.4 -1.3 -2.6 LT-1.0 -36.5 2.6 3.5 16.3 5.24.5 56.2 39.1 8.0 12.9 2.2 -2.1 -6.0 LU4.8 80.6 -1.0 23.6 6.0 3.3-4.7 286.5 21.8 6.2b0.5 -0.6 0.5 -7.2 HU2.9 -54.4 0.0 10.2 9.3 8.60.6 69.9 72.1 5.4 -7.1 4.2 -2.0 -9.7 MT2.7 56.5 -2.5 24.1 6.5 4.36.4 123.6 47.7 4.7 7.7 4.4 -0.9 -1.1 NL8.4 61.1 -1.8 1.3 0.1 6.14.0 249.6 56.9 5.9 0.5 0.7 -1.0 -3.8 AT1.9 4.3 0.2 2.2 4.3 3.43.6 122.3 78.5 5.7 4.4 1.0 0.3 -0.5 PL-0.7 -61.2 -3.5 28.3 4.1 1.83.0 76.9 50.6 6.2 4.7 1.7 -2.3 -9.1 PT0.9 -110.4 -0.8 13.9 2.8 7.62.9 163.0 126.1 10.9 1.3 1.5 -3.9 -10.9 RO-1.8 -47.4 -5.6 38.0 16.6 3.31.7 50.9 35.1 5.9 8.2 1.6 -0.8 -5.7 SI4.9 -24.2 -2.0 17.8 3.6 6.60.9 76.1 74.2 7.9 5.3 3.3 -2.2 -9.0 SK-2.2 -68.3 -2.0 4.9 7.7 4.45.0 90.0 51.6 9.8 16.6 1.8 -4.2 -10.8 FI-1.2 1.2 -2.6 -5.3 -3.7 0.58.3 147.7 61.2 8.9 -4.1 1.3 0.2 -0.4 SE2.9 -1.2 -5.5 -5.7 4.0 4.813.1 198.6 40.7 7.0 6.9 1.0 -0.2 -5.0 Year2017External 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 = estimate by NCB for EL. 3) Labour Force Survey indicators, b = change in the survey methodology for BE; b = data collection improvement, introduction of CAWI (computer-assisted web interviewing) technique for DK.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 2016   

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 ppBE0.9 54.5 -0.4 -5.2 -0.7 1.123.7 194.8 105.0 8.3 2.4 0.1 0.1 -3.6 BG1.4 -47.5 -4.7 9.2 11.0 5.33.0 103.9 29.1 9.4 9.5 0.3 -2.9 -11.2 CZ0.8 -27.2 -3.7 2.5 3.3 6.86.2 80.4 36.6 5.1 16.8 2.1 -1.3 -8.5 DK8.3 52.6 -1.7 -3.1 1.3 5.13.1 222.4 37.2 6.4b15.4 0.9b-0.6b-2.6bDE8.1 39.2 -2.1 1.9 5.2 6.74.6 107.1 69.0 4.6 5.4 0.3 -0.6 -0.7 EE1.2 -39.5 4.4 -0.9 12.6 3.76.3 111.9 10.0 6.8 8.4 2.4 -1.7 -5.3 IE0.4 -172.7 -7.1 58.3 -16.2 7.2-15.8 283.2 74.3 10.1 1.5 0.9 -3.8 -9.9 EL-1.1 -139.1 -4.0 -10.0 -4.7 -1.5e-2.1 127.0 180.5 25.0 -10.2 0.7 -1.5 -11.0 ES2.3 -85.5 -4.3 2.7 -1.2 4.5-0.4 147.8 99.2 22.1 1.8 -0.1 -3.5 -11.1 FR-0.6 -13.0 -3.2 1.0 1.7 0.86.2 143.2 98.0 10.3 4.9 0.5e0.1 -0.4 HR1.9 -72.4 0.0 9.3 -5.5p2.0-0.2 102.8 79.8 15.5 3.5 1.9 -4.4 -18.7 IT2.0 -11.7 -3.4 -4.2 1.5 0.20.0 112.1 134.8 12.1 3.3 1.5 -0.2 -2.2 CY-2.9 -133.8 -7.4 7.8 -9.2 2.211.9 327.9 103.1 14.7 -0.3 -0.2 -0.3 -9.8 LV-0.2 -54.2 4.8 9.1 14.9 7.22.5 78.3 40.4 10.1 4.7 2.3 -1.7 -5.9 LT0.0 -42.8 5.3 -1.5 15.0 4.44.4 56.6 39.7 9.2 15.8 3.1 -2.1 -7.4 LU4.8 55.5 -1.5 25.7 2.6 5.2-8.5 302.0 19.6 6.3b5.0 0.1 0.4 3.4 HU2.7 -59.0 -5.2 -2.3 5.7 12.3-3.2 76.7 74.8 6.5 19.5 5.4 -2.5 -13.7 MT2.6 47.7 -2.9 17.7 6.4 4.410.3 132.7 54.6 5.3 3.8 4.3 -1.1 -2.0 NL7.6 62.3 -2.3 -3.1 -0.3 4.43.7 259.5 61.9 6.8 7.4 0.3 0.0 -2.4 AT2.3 4.1 0.9 -3.0 5.5 7.03.3 123.3 82.8 5.8 -3.5 0.7 0.6 1.5 PL-1.4 -61.5 -5.1 17.6 2.5 2.35.3 81.9 54.2 7.6 9.2 1.8 -2.2 -9.6 PT0.5 -110.5 -1.8 5.0 -0.5 6.1-1.8 169.3 131.5 12.6 -0.4 0.7 -3.1 -10.1 RO-0.9 -49.2 -2.6 24.5 10.0 5.20.6 53.8 37.3 6.5 7.0 0.7 -0.2 -3.1 SI4.6 -28.8 -0.6 3.2 1.3 3.6-0.8 81.0 78.5 8.9 3.4 1.1 -0.9 -6.4 SK-1.2 -66.8 -1.6 7.1 4.0 7.09.2 88.2 52.4 11.5 8.6 2.0 -4.2 -11.5 FI-1.4 5.5 0.4 -15.9 0.3 0.61.3 148.1 63.2 9.0 3.8 0.7 0.6 0.2 SE3.3 -3.5 -9.2 -9.5 3.1 7.38.4 192.4 42.3 7.5 9.1 1.0 -0.1 -4.6 Year2016External imbalances and competitivenessFigures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. p:Provisional. 1)Fortheemploymentindicators,seepage2oftheAMR2016.2)Housepriceindexe=estimatebyNCBforEL.3)Privatesectordebt:thedeclineforIErelativeto2015predominantlyreflectsrestructuringandre-domicilingactivitiesoflargemultinationalcompanies.4)LabourForceSurveyindicators,b=datacollectionimprovement,introduction of CAWI (computer-assisted web interviewing) technique for DK.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 1.6: MIP Scoreboard 2015   

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 ppBE1.0 45.2 -1.7 -13.7 0.4 0.811.5 175.3 105.2 8.5 2.6 0.7 1.0 2.3 BG0.8 -61.5 -4.3 12.9 17.2 0.4b-3.8 108.7 25.9 11.2 9.6 2.2 -1.2 -6.5 CZ0.0 -32.9 -8.2 -2.1 0.6 4.0-0.4 78.2 39.7 6.1 7.9 2.4 -0.6 -6.9 DK8.3 30.8 -1.7 -8.7 2.2 6.62.9 211.4 39.8 6.9 -0.9 -0.3 -0.5 -3.6 DE7.5 34.6 -1.5 -3.3 6.2 4.12.9 106.3 72.0 4.9 3.1 0.4 -0.4 -0.8 EE0.9 -40.2 5.8 7.1 15.0 7.32.7 113.6 10.1 7.4 8.6 1.9 -3.1 -7.8 IE2.3 -198.4 -6.4 37.6 -19.3 10.7-2.3 304.0 76.7 11.9 9.6 1.0 -3.9 -10.6 EL-1.0 -136.1 -5.6 -14.1 -11.0 -3.8e-3.1 129.1 176.7 26.3 6.3 0.3 3.7 -5.5 ES1.9 -88.9 -3.2 -3.5 -1.1 3.7-2.1 155.8 99.3 24.2 -1.8 0.0 0.4 -4.6 FR-0.6 -12.9 -2.9 -3.8 2.3 -1.64.6 142.8 95.6 10.3e2.2 0.9e0.4 0.3 HR0.8 -79.0 0.1 -5.9 -6.1p-2.6-1.5 110.5 83.3 16.9 2.0 3.0 0.0 0.2 IT1.5 -18.8 -2.4 -9.9 2.0 -4.0-1.3 116.0 135.3 12.3 1.4 0.5 1.3 5.0 CY-2.0 -154.0 -6.2 -4.9 -10.8 1.0b4.3 346.4 107.2 15.7 9.7 0.4 3.2 5.1 LV-1.7 -60.1 2.5 13.0 16.7 -2.8-0.8 78.3 37.1 10.9 13.3 1.3 -3.3 -12.2 LT0.9 -43.8 4.2 6.3 11.8 4.72.6 55.2 42.5 10.5 7.1 2.3 -2.7 -10.4 LU4.9 63.3 -0.7 17.9 5.6 4.521.3 322.7 21.1 6.2b16.8 1.5b0.3b-1.5bHU2.3 -67.5 -7.2 -9.5 1.3 12.5-2.5 83.7 75.7 8.2 0.4 4.9 -1.9 -10.9 MT2.8 36.1 -2.8 8.9 0.9 4.16.8 130.4 56.3 5.7 3.6 4.9 -1.1 -2.2 NL8.2 49.6 -0.9 -6.9 -0.4 3.40.1 263.2 64.6 7.2 4.0 0.6 1.1 -0.4 AT2.0 2.2 1.3 -9.3 6.4 3.42.1 124.0 84.9 5.6 -0.1 0.4 0.5 1.2 PL-1.8 -62.1 -1.4 8.5 0.5 2.63.5 79.1 51.3 8.9 2.9 1.6 -1.1 -5.7 PT0.7 -118.9 -3.1 0.7 0.2 2.2-1.4 179.3 131.2 14.4 -1.4 0.0 -0.5 -5.9 RO-0.7 -54.7 2.7 21.3 0.8 1.60.2 58.1 37.8 6.9 4.1 1.3 0.0 -0.9 SI4.1 -31.2 0.3 -5.0 -0.1 1.4-5.0 87.4 82.6 9.6 -3.8 1.4 0.4 -4.3 SK0.3 -63.8 -1.2 3.9 2.4 5.55.0 80.4 51.8 13.0 10.4 1.5 -1.8 -7.5 FI-1.4 4.8 2.1 -23.2 3.3 -0.5b6.9 152.1 63.6 8.8 1.4 0.6 0.7 3.4 SE4.3 -6.6 -8.3 -10.5 2.5 12.07.5 190.9 43.7 7.8 1.8 1.4 0.0 -3.2 Employment indicators¹Year2015External imbalances and competitivenessInternal imbalances1)Fortheemploymentindicators,seepage2oftheAMR2016.2)InternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindexe=estimatebyNCBforEL;b=breakintimeseriesduetofullimplementationofharmonisedEUmethodologyforBGandCY;b=breakintimeseriesduetonewcalculationmethodforNewdwellings(apartments)forFI.4)Privatesectordebt:significantincreasesforIEduetore-domicilingoflargemultinationalcorporationsandmovementoflargepartsoftheirbalancesheets.5)LabourForce Survey indicators, b = change in sampling strategy and data collection technique for LU.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. e:Estimated. p:Provisional.  
 
 
 
 
 
Table 1.7: MIP Scoreboard 2014   

21 

Current account balance - % of GDP (3 year average)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change)Export market share - % of world exports(5 year % change)Nominal unit labour cost index (2010=100)(3 year % change)House price index (2015=100), deflated (1 year % change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (3 year average)Total financial sector liabilities, non-consolidated(1 year % change)Activity rate - % of total population aged 15-64(3 year change in pp)Long-term unemployment rate - % of active population aged 15-74(3 year change in pp)Youth unemployment rate - % of active population aged 15-24(3 year change in pp)Thresholds-4%/+6%-35%±5% (EA)±11% (Non-EA)-6%9% (EA) 12% (Non-EA)6%14%133%60%10%16.5%-0.2 pp0.5 pp2 ppBE0.5 44.8 -0.6 -13.5 4.3 -1.3-2.1 162.5 107.0 8.2 2.6 1.0 0.8 4.5 BG0.6 -71.9 -2.8 5.4 19.2 0.12.3 125.1 27.0 12.2 7.9 3.1b0.6 -1.2 CZ-0.6 -36.3 -10.0 -6.4 4.6 1.62.3 83.0 41.9 6.7 5.2 3.0b0.0 -2.2 DK7.7 43.3 -1.2 -16.0 2.3 3.1-0.3 214.0 44.3 7.4 7.3 -1.2 -0.1 -2.2 DE7.0 29.0 -0.4 -9.7 7.4 2.20.3 107.0 75.3 5.2 5.3 0.4b-0.6 -0.8 EE-0.3 -47.0 4.8 20.3 14.7 12.95.7 116.2 10.6 8.7 13.0 0.5 -3.8 -7.4 IE-0.3 -164.6 -3.6 -14.8 -3.4 15.72.6 276.6 104.3 13.7 19.5 0.6 -2.2 -6.2 EL-1.9 -133.0 -5.6 -19.6 -8.5 -5.2e-3.1 132.4 180.3 26.2 -8.3 0.1 10.7 7.7 ES1.3 -95.9 -1.0 -11.7 -3.6 0.2-7.0 167.7 100.7 25.1 0.3 0.3 4.0 7.0 FR-0.8 -15.6 -1.3 -14.7 4.4 -1.63.2 141.5 94.9 10.1e5.6 1.1e0.6 1.5 HR-0.9 -86.8 -0.8 -19.5 -6.9p-1.3-0.2 115.8 83.9 16.9 0.6 2.0 1.7 8.8 IT0.9 -20.9 0.2 -15.7 2.6 -4.9-0.3 119.8 135.4 11.9 0.9 1.8 3.4 13.5 CY-3.1 -163.6 -1.7 -20.3 -6.5 -1.1-0.8 352.1 109.1 14.6 11.6 0.8 6.1 13.6 LV-2.7 -64.1 0.4 11.5 13.2 4.7-4.6 82.2 41.6 12.6 10.9 1.8 -4.2 -11.4 LT1.2 -46.8 1.7 19.6 8.7 6.40.2 54.1 40.5 12.0 16.7 2.3 -3.2 -13.3 LU5.1 67.3 0.5 9.0 5.8 3.728.1 313.2 21.9 5.6 38.4 2.9 0.2 5.8 HU2.1 -80.1 -6.8 -17.0 6.1 2.8-0.3 91.3 76.5 9.6 8.7 4.6 -1.5 -5.6 MT1.8 41.8 0.1 -12.7 2.3 2.06.3 139.6 62.1 6.0 6.0 6.0 -1.0 -1.6 NL9.5 48.0 0.7 -11.5 3.7 -0.14.3 267.6 67.9 6.8 8.0 0.9 1.3 2.7 AT2.0 3.4 1.9 -15.9 7.9 1.40.9 124.8 84.0 5.3 -0.8 0.8 0.3 1.4 PL-2.8 -69.4 -1.0 3.4 3.4 1.14.8 78.7 51.1 9.8 1.7 2.2 0.2 -1.9 PT0.1 -123.8 -1.8 -7.5 -2.9 4.0-6.8 190.1 132.9 15.4 -7.3 -0.4b2.2 4.5 RO-2.1 -57.0 -1.0 20.8 6.0 -3.3-2.3 62.0 39.2 6.9 1.2 1.6 -0.1 0.1 SI3.2 -38.4 1.2 -13.2 0.1 -6.2-4.7 97.9 80.3 9.6 -0.1 0.6 1.7 4.5 SK1.3 -63.6 1.2 1.7 3.0 1.55.0 79.1 53.7 13.8 9.4 1.6b0.1 -3.7 FI-1.7 -3.1 2.7 -27.5 7.6 -1.61.7 148.8 59.8 8.2 9.4 0.5 0.2 0.4 SE5.0 -3.7 -3.7 -10.1 7.4 8.34.5 193.1 45.0 8.0 12.6 1.6 -0.1 0.1 Internal imbalancesEmployment indicators¹Year2014External imbalances and competitivenessFigures 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) International investment position of LU has been revised downwards following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics. 3) House price index e = estimate by NCB for EL.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 2013   

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-0.4 43.2 -0.2 -13.2 7.4 0.17.9 163.0 105.5 7.7 1.2 -0.2 -0.1 1.3 BG0.3 -73.3 -0.9 -0.4 16.2 -0.82.6 130.1 17.0 12.2b1.1 1.7b2.7 6.5 CZ-1.4 -40.9 -3.1 -10.0 4.3 -0.74.3 84.8 44.4 6.9b10.1 2.7 0.0 0.7 DK6.9 37.2 -2.5 -18.0 1.5 3.1-3.0 216.1 44.0 7.7 1.8 -1.4 0.4 -0.8 DE6.6 24.7 -1.8 -13.2 6.0 1.72.7 114.8 78.3 5.5b-6.6 0.9b-1.0 -2.0 EE-0.1 -50.0 3.1 9.6 11.6 7.34.8 115.9 10.2 10.3 10.3 1.2 -3.8 -14.2 IE-1.2 -133.6 -3.8 -10.8 -1.7 0.0-1.4 266.1 120.0 14.9 2.1 0.2 1.1 -1.4 EL-4.6 -131.0 -4.4 -26.9 -4.4 -9.3e-4.0 133.4 178.2 23.3 -17.6 -0.3 12.8 25.3 ES-0.2 -92.8 -0.3 -10.5 -5.1 -10.0-10.0 178.2 95.8 24.1 -10.4 0.8 5.7 14.0 FR-0.8 -16.6 -2.2 -14.5 4.6 -2.52.1 137.4 93.4 9.8e0.5 0.9e0.6e1.6eHR-1.6 -88.6 -3.9 -23.6 -5.0p-5.7-0.6 115.6 80.3 15.7 2.7 -1.4 4.4 17.6 IT-0.6 -23.4 0.1 -20.6 2.9 -7.5-2.8 122.0 132.5 10.4 -2.3 1.4 2.9 12.1 CY-2.6 -162.5 -0.8 -12.3 -0.7 -3.9-12.2 341.1 104.0 11.9 -3.1 0.0 4.8 22.3 LV-3.3 -67.9 -1.7 5.6 9.6 6.4-0.6 90.7 40.4 14.4 5.7 1.0 -3.1 -13.0 LT-1.2 -50.8 -0.6 10.8 6.1 0.4-0.2 56.6 38.7 13.5 -1.3 2.2 -2.3 -13.8 LU5.3 61.5 0.8 6.9 9.9 3.426.4 296.8 22.4 5.3 10.3 1.7 0.5 1.3 HU1.9 -82.0 -3.8 -23.1 7.3 -4.2-0.8 95.6 77.2 10.7 -1.2 2.8 -0.6 0.2 MT-0.8 25.9 -1.2 -0.9 9.3 -1.63.0 146.9 66.4 6.2 0.0 5.9 -0.6 -0.5 NL9.5 30.7 0.5 -11.6 4.8 -7.99.8 258.2 67.7 6.0 -1.6 1.5 1.2 2.1 AT1.7 1.3 0.7 -18.7 6.4 3.01.0 127.1 81.3 5.0 -3.2 1.1 0.1 0.2 PL-3.7 -69.4 -4.3 -1.6 3.8 -4.83.2 75.9 56.5 10.0 6.3 1.7b1.4 3.6 PT-2.0 -120.2 -0.6 -8.4 -3.8 -2.6-2.3 201.6 131.4 15.0b-5.2 -0.7 3.6 15.3 RO-3.7 -63.3 0.5 13.8 -4.7 -2.8-1.4 66.8 37.6 7.0 0.8 0.0b0.8 1.6 SI1.3 -39.3 -0.6 -18.6 0.1 -7.2-3.7 107.2 70.0 9.1 -10.1 -1.0 2.0 6.9 SK-0.7 -62.3 2.1 -4.4 3.4 -0.45.0 75.3 54.9 13.9b1.4 1.2 0.8 0.1 FI-1.8 3.0 0.2 -32.7 9.3 -1.32.8 147.0 56.2 7.9 -11.5 0.7 -0.3 -1.5 SE5.4 -17.2 5.1 -16.9 8.7 4.54.6 193.8 40.3 8.0 9.8 2.0 -0.2 -1.3 1) For the employment indicators, see page 2 of the AMR 2016. 2) International investment position of LU has been revised downwards following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics. 3) House price index e = estimate by NCB for EL.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. e:Estimated. p:Provisional. Year2013External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
Table 1.9: MIP Scoreboard 2012   

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 ppBE-0.1 40.8 -4.3 -15.6 4.9 0.214.6 191.0 104.8 7.7 -5.1 0.0 -0.1 -2.1 BG-0.7 -77.3 -4.0 -1.1 10.9 -4.62.6 127.6 16.6 11.3b11.7 -0.1 3.8 11.9 CZ-2.4 -45.6 0.5 -4.6 4.3 -3.53.1 81.8 44.2 7.0b5.0 1.5 1.0 2.9 DK6.5 36.1 -7.8 -17.8 -0.2 -4.97.9 224.0 44.9 7.8 2.5 -1.5 1.5 2.3 DE6.4 28.7 -9.0 -16.8 2.5 2.11.6 114.6 80.7 6.1b3.3 0.9 -1.1 -3.2 EE0.4 -51.1 -3.6 6.8 0.7 3.17.7 118.1 9.8 13.0 10.9 0.8 1.8 -6.5 IE-2.1 -137.4 -12.2 -18.4 -9.9 -14.4-0.5 276.5 119.7 15.2 -1.1 -1.9 5.7 6.3 EL-7.5 -117.6 -5.0 -26.3 1.6 -12.5e-4.8 135.1 162.0 18.4 -2.1 0.1b10.6 29.6 ES-2.1 -88.9 -5.3 -17.6 -5.0 -16.5-11.2 188.5 86.3 22.0 0.6 1.2 6.7 15.2 FR-0.8 -12.8 -7.8 -18.4 4.1 -1.94.2 138.3 90.6 9.4e1.4 0.5e0.9e0.8eHR-2.0 -90.5 -8.4 -25.8 -2.1p-4.6-2.8 117.0 69.4 13.8 0.9 -1.7 5.1 16.9 IT-2.1 -23.0 -6.2 -25.8 2.0 -5.0-0.9 124.7 126.5 9.2 7.1 1.2 2.2 10.0 CY-5.6 -141.1 -5.9 -19.1 3.2 -5.50.7 326.0 80.3 8.7 11.8 0.5b3.0 13.9 LV-1.8 -68.4 -8.6 8.2 -5.7 -0.3-2.4 96.3 42.4 16.9 5.4 0.9 3.3 -4.8 LT-1.7 -54.4 -6.7 23.9 -4.3 -3.20.4 61.0 39.7 15.5 -0.6 2.2 3.3 -2.9 LU5.6 63.2 -2.4 -6.3 8.0 2.024.5 287.9 20.9 4.8 14.9 0.7b0.4 1.6 HU0.8 -91.6 -0.8 -23.3 7.0 -8.9-5.9 101.7 78.1 11.1 -5.8 2.5 0.8 1.8 MT-2.8 19.1 -7.6 12.1 7.2 0.40.7 158.0 66.6 6.5 8.3 4.5 0.9 -0.7 NL8.6 26.7 -6.0 -12.9 2.6 -7.96.1 252.5 66.2 5.3 6.0 0.9 0.8 1.5 AT2.0 -3.2 -4.7 -21.8 3.8 4.81.2 128.2 81.9 4.8 0.4 0.8 0.0 -1.3 PL-5.0 -65.6 1.4 0.7 5.6 -6.64.8 73.8 54.4 9.8b9.0 1.8 1.6 5.9 PT-5.9 -119.3 -4.0 -17.4 -6.2 -8.7-4.3 210.6 129.0 13.2b-3.5 0.0 3.5 17.6 RO-5.1 -67.8 -2.0 12.2 6.7 -8.90.3 72.3 37.1 7.0b4.8 1.7 0.8 1.8 SI-0.1 -44.0 -4.5 -20.9 0.1 -8.5-2.8 112.2 53.6 8.1 -0.7 -1.4 2.5 7.0 SK-2.9 -60.7 -3.2 -10.4 -0.1 -5.91.9 71.1 51.9 14.0b1.1 1.0 2.9 6.7 FI-0.7 10.6 -8.3 -32.4 5.8 -0.47.1 147.7 53.6 8.0 -1.3 0.2 0.2 -2.5 SE5.6 -15.5 10.3 -19.6 4.1 0.72.3 191.0 37.5 8.1 5.6 1.4 0.4 -1.4 Figures 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) International investment position of LU has been revised downwards following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics. 3) House price index e = estimate by NCB for EL.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 indicators¹Year2012External imbalances and competitiveness 
 
 
 
 
 
Table 1.10: MIP Scoreboard 2011  

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 ppBE0.4 51.4 -1.5 -7.8 5.1 1.122.2 180.6 103.5 7.8 5.4 -0.4 0.2 0.7 BG-3.2 -82.4 1.9 11.1 16.9 -8.93.5 128.4 15.2 9.5b4.3 -1.9b3.4b12.3bCZ-2.6 -44.9 -0.5 7.4 3.5 -1.62.5 79.2 39.7 6.9b4.8 0.8b0.5b8.2bDK5.5 27.8 -2.5 -13.8 3.6 -4.04.4 221.0 46.1 7.3 1.6 -1.5b1.3 6.9 DE5.9 23.3 -4.9 -9.4 5.6 1.62.1 115.0 79.4 6.9b3.1 1.4b-1.1b-2.1bEE1.9 -54.4 -0.8 24.4 -2.2 3.1-0.8 120.0 6.2 14.2 -0.2 0.5 5.4 10.4 IE-2.5 -138.6 -9.6 -10.3 -14.4b-17.816.3 273.1 110.5 14.2 -2.2 -3.6 7.1 16.1 EL-10.4 -90.4 1.8 -17.2 9.5 -8.2e-6.6 133.0 175.2 13.4b-3.9 0.6 5.1 22.8 ES-3.5 -93.8 -2.5 -8.3 -1.4 -9.8-4.2 198.2 69.9 19.7 3.4 1.2 6.9 21.7 FR-0.7 -8.7 -4.4 -15.4 5.4 3.86.4 135.3 87.8 9.2e6.9 0.4e1.0e3.7eHR-3.6 -91.9 -4.7 -15.6 6.3p-2.0-2.4 119.5 63.7 11.5 1.9 -1.7 3.1 13.0 IT-2.7 -18.2 -3.2 -19.2 4.9 -1.53.1 122.2 119.7 8.2 4.9 -0.8 1.3 8.0 CY-6.6 -141.9 -3.0 -9.1 9.4 -4.417.7 319.8 65.9 6.5b9.6 -0.1 1.1 13.4 LV2.0 -78.0 -2.4 27.4 -17.6 4.0-2.3 114.5 45.1 17.7 -4.3 -1.4 6.9 17.4 LT-0.5 -53.6 1.7 23.0 -8.0 2.2-2.2 64.6 37.1 15.7 1.9 3.0 6.7 19.3 LU5.7 28.5 0.1 -0.9 12.1 0.720.8 276.8 18.5 4.8b14.3 1.1 -0.2 -1.1 HU0.1 -103.6 -4.2 -4.3 3.2 -6.6-4.3 114.1 80.3 10.7 6.2 1.2 1.6 6.5 MT-5.5 6.2 -5.0 17.6 9.3 -3.96.4 166.3 70.0 6.7 10.2 2.7 1.3 1.6 NL7.0 20.1 -2.4 -8.4 5.3 -4.08.0 247.6 61.7 4.8 10.3 0.3 0.4 1.4 AT2.4 -1.9 -1.8 -12.5 5.8 3.03.0 129.4 82.4 4.9 1.5 0.7 0.2 0.4 PL-5.0 -62.5 -11.4 14.8 4.1 -4.76.6 74.0 54.7 9.2b6.4 1.9 1.2 8.5 PT-8.8 -104.1 -3.0 -9.9 -0.5 -6.5-0.8 204.6 114.4 11.2b-4.9 -0.3b2.6b13.6bRO-5.0 -66.1 -3.2 49.5 2.2 -15.52.8 73.7 34.0 7.0b4.5 1.2 0.5 5.3 SI-0.9 -39.8 -1.1 -5.6 7.7 0.90.5 112.9 46.5 7.1 -1.2 -1.5 1.7 5.3 SK-4.3 -63.7 3.4 -2.8 5.1 -5.24.6 68.6 43.3 13.3b0.6 -0.1b2.6b14.4bFI0.7 13.9 -2.8 -23.5 9.0 -0.15.3 144.6 48.3 8.1 28.7 -1.1 0.5 3.6 SE5.8 -8.3 3.2 -12.2 4.3 1.26.9 188.0 37.2 8.3 1.9 0.6 0.7 2.6 1) For the employment indicators, see page 2 of the AMR 2016. 2) International investment position of LU has been revised downwards following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics. 3) House price index e = estimate by NCB for EL.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. e:Estimated. p:Provisional. Year2011External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
Chapter 2: Tables by year - Auxiliary indicators used in the economic reading of the MIP scoreboard   
Table 2.1: Auxiliary indicators, 2020 

25 

Year2020Real 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-5.7p23.9pna0.8 37.8 -3.6 174.8 -1.7p0.4 11.4 0.8p2.4p-5.6p2.1p0.5 11.5 6.2p66.4 14.2pBG-4.4 19.2 0.9p1.3 47.1 3.9 84.8 -2.1 3.0 16.6 12.7 -4.2 -2.1 5.9p39.2 18.2p2.9 24.7 7.9pCZ-5.8 26.2 2.0p4.8 36.9 2.5 81.5 -1.5 3.7 10.6 2.2 1.0 -4.2 1.9p10.9 28.6 4.8 34.0 12.1pDK-2.1 22.4 3.0p8.1 30.0 0.4 58.4 -0.4 -2.0 12.0 1.2 0.9 -1.4 1.9p-8.1 12.3 5.5 111.7 17.4pDE-4.6p21.9p3.1p6.8 53.2 2.9 49.8 -1.3p0.1 1.8 2.9p-1.4p-3.8p1.2p11.2 21.6 7.0p57.7 14.4pEE-3.0 30.7 1.8p1.9 42.3 11.4 113.5 -0.5 1.3 18.1 1.4 2.9 -0.3 1.6p23.4 20.2 5.5 41.8 8.8pIE5.9 39.7 1.2p-6.8 -292.9 8.2 428.5 -0.7 -2.5 50.7 -3.0 17.4 7.5 3.4p-35.4 13.2 2.1 35.9 8.8pEL-9.0p11.7p1.5p-5.0 -155.2 1.8 23.4 -1.8p-3.2 -9.7 -3.1p-13.6p-7.9p26.4p-13.7 14.0e1.1p59.5 13.8pES-10.8p20.3p1.4p1.2 -52.8 2.6 78.9 -1.3p-1.2 -6.4 0.9p-12.2p-7.0p2.8p-11.2 14.8 6.0p62.5 15.8pFR-7.9p23.0p2.4p-1.8 -41.9 0.4 50.3 -1.1p0.6 -6.4 0.0p-7.9p-7.0p2.2p-3.6 11.9 6.1p68.7p16.2pHR-8.1p22.3p1.3p2.1 -0.3 2.1 65.3 -2.0p-2.0 0.6 1.5p-14.8p-7.0p5.3p-11.9 24.5 na38.3 7.6pIT-8.9 17.8 1.5p3.7 1.4 -1.1 30.8 -1.3 -1.9 -2.4 5.9 -6.1 -7.0 4.5p-7.5 1.2 4.1 45.1 13.9pCY-5.2p20.0pna-10.0 -170.4 -0.6 1886.4 -3.3p-3.0 29.1 -0.8p2.8p-4.7p11.0p-15.0 5.3p7.6p91.0 13.6pLV-3.6 24.5 0.7p4.7 14.5 2.8 60.0 -1.6 1.5 18.8 9.3 5.7 -1.3 4.6p27.8 23.5 3.0 20.9 10.0pLT-0.1 21.1 1.2p9.1 15.2 8.0 56.2 -2.4 2.1 39.9 2.8 8.3 1.5 2.2p26.5 23.0 3.2 24.6 15.5pLU-1.8 16.8 na4.0 -4095.3 -214.4 6136.5 -2.0 0.0 21.2 -0.5 9.2 -3.6 0.7p6.6 35.0 3.7 69.2 14.3pHU-4.7p26.8p1.6 0.5 -2.4 111.5 327.3 -2.2p-6.5 8.7 1.4p2.0p-3.7p3.6p14.4 40.4p4.1p20.9 10.8pMT-8.3 21.7p0.7 -2.3 270.2 29.4 1602.5 -5.5 0.7 13.7 2.4 1.6 -10.7 3.6p20.7 16.1p3.9p54.0 10.7pNL-3.8p21.3pna6.9 9.2 -16.7 567.0 -0.5p2.0 7.9 1.8p3.1p-3.3p1.9p3.0 26.4p5.3p103.0p16.7pAT-6.7 25.2 3.2p1.8 -5.6 -4.1 57.4 -1.4 1.4 5.7 -0.2 -2.9 -5.2 2.0p5.5 19.3 5.1 53.2 11.9pPL-2.5 16.6 1.4p5.2 -6.2 2.9 48.5 -1.6 -1.0 37.6 3.5 8.0 -2.4p6.0p4.9 28.0p2.0 34.8 10.5pPT-8.4p19.1p1.6p0.0 -47.0 2.0 87.2 -1.7p-1.9 -0.4 2.2p-10.7p-6.7p4.9p-1.0 31.1 3.4p69.5 11.4pRO-3.9p24.6p0.5p-3.1 -7.2 1.4 46.4 -1.2p1.0 21.2 5.4p-1.8p-2.2p3.9p23.5 14.3 2.6p16.2 9.1pSI-4.2 18.9 2.2p6.9 2.0 0.9 42.9 -2.0 -0.2 20.8 1.4 -0.8 -3.7 3.0p-0.5 21.4 2.3 27.8 9.3pSK-4.4 19.6 0.9 1.3 -14.8 -0.2 70.4 -2.1 3.8 8.6 -2.2 0.6 -2.5 2.5p10.1 28.4 3.9 47.2 9.7pFI-2.9 24.2 2.9 0.9 4.9 -0.8 50.3 -0.9 -1.0 12.8 0.1 1.1 -0.8 1.5p-5.5 3.9 7.1 69.6 16.0pSE-2.8 24.8 3.5p5.7 -4.5 5.3 92.4 -0.8 -7.4 5.0 -0.8 3.3 -1.5 1.0p7.4 5.8 5.0 94.7 17.6pFlags:e:Estimated. p:Provisional. 1) Official transmission deadline for 2020 data on Gross domestic expenditure on R&D is 31 October 2021 while data were extracted on 22 October 2021. 2) House price index e = estimate by NCB for EL.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworldvolume exports of goods and services) 
 
 
 
 
 
 
 
Table 2.1 (continued): Auxiliary indicators, 2020 

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 ppBE0.0p68.6 2.3 15.3 9.2 -0.1b18.9b-1.7b14.1b-1.8b3.9b-1.3b11.9b-2.0bBG-2.3 72.2 2.3 14.2 14.4 -0.9 32.1 -6.8 23.8 0.4 19.4 -10.6 8.5 -2.6 CZ-1.7 76.4 0.6 8.0 6.6 0.3 11.9 -0.3 9.5 0.4 2.4 -1.3 4.4 -1.1 DK-0.7 79.0 0.9 11.6 7.4 -0.2b15.9b-1.3b12.1b-0.3b2.4 -0.7 9.1 -0.9 DE-0.8p79.3bp1.1bp7.4bp7.3bp1.0bp24.0b5.0b18.5b2.4b6.6bu3.2bu9.5b0.8bEE-2.7 79.3 1.2 17.9 8.9 -0.5 23.3 -0.1 20.7 -0.3 2.8 -1.3 4.7 -1.1 IE-1.5 71.9 1.3 15.3 12.0 1.1bnanananananananaEL-1.2p67.4 10.9 35.0 13.2 -2.1 28.9 -5.9 17.7 -2.5 16.5 -4.6 12.8 -2.8 ES-4.1p72.2 5.0 38.3 13.9 0.6 26.4 -0.2 21.0 -0.6 7.0 1.9 9.9 -2.9 FR-0.9p71.0 2.9 20.2 11.4 0.0 18.2p1.2p13.8p0.6p4.8p0.7p8.8p0.7pHR-1.2p67.1 2.1 21.1 12.2 -3.2 23.2 -3.2 18.3 -1.7 6.9 -3.4 8.6 -3.6 IT-2.1 64.1 4.7 29.4 19.0 -1.1 nanananananananaCY-0.6p75.8 2.1 18.2 14.4 -1.7 21.3 -3.9 14.3 -1.4 8.3 -3.2 5.6 -3.8 LV-2.3 78.2 2.2 14.9 7.1 -3.2 nanananananananaLT-1.6 78.5 2.5 19.6 10.8 1.7 24.8 -4.8 20.9 -2.0 7.7 -4.7 7.3 -2.4 LU1.9 72.2 1.7 23.2 6.6 0.7 20.9b1.5b17.4b1.0b1.7b0.5b7.9b1.0bHU-1.0 72.8 1.1 12.8 11.7 0.7 17.8 -7.8 12.3 -1.1 8.0 -6.5 5.0 -1.6 MT2.7 77.1 1.1 10.9 9.3 0.7b19.0 -0.3 16.9 0.2 3.3 0.0 5.4 -1.7 NL-0.5p80.9 0.9 9.1 4.5 0.5 16.3p-0.7p13.6p0.4p2.1p-0.5p8.9p-0.6pAT-1.6 76.6 1.3 10.5 8.0 1.5 17.5 -0.6 13.9 -0.5 2.7 -1.0 7.1 -1.2 PL-0.1p71.0 0.6 10.8 8.6 -0.9 17.3p-2.2p14.8p-0.2p2.6p-3.3p4.3p-1.4pPT-1.9p74.3 2.3 22.6 9.1 -0.2 19.8 -3.5 16.2 -2.1 4.6 -2.3 5.1 -2.9 RO-1.8p69.2 1.5 17.3 14.8 -0.4 30.4 -5.3 23.4 -0.2 15.2 -4.5 6.3 -0.6 SI-0.6 74.6 1.9 14.2 7.7 1.2 15.0 -2.1 12.4 -0.9 3.0 -1.6 4.8 -1.4 SK-1.9 72.4 3.2 19.3 10.7 -1.4 14.8p-1.5p11.4p-1.0p5.9p-1.1p4.3p-1.1pFI-2.1 78.3 1.2 21.4 9.3 -0.1 16.0 0.3 12.2 0.7 2.6 0.5 9.9 -0.8 SE-1.3 82.5 1.1 23.9 6.5 0.3 17.9 0.2 16.1 0.3 1.8u0.7u8.5 -0.3 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 0-59Year2020Employment(1 year % change)Flags:b:Break in series. p:Provisional. u:Low reliability. 1)LabourForceSurveyindicators,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldata from other integrated household surveys. 2) Official transmission deadline for 2020 data for the Income and Living Conditions (EU-SILC) indicators is 30 November 2021 while data were extracted on 22 October 2021; b = major substantive and methodological changes for DE.Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 2.2: Auxiliary indicators, 2019 

27 

Year2019Real 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)BE2.1 24.2 2.9p0.3 38.8 -5.5 182.1 -2.6 1.1 -4.1 1.3 1.1 0.5 2.1e0.4 10.9 6.1 60.6 13.4eBG4.0 18.6 0.8 3.3 40.2 3.2 81.2 -3.0 1.7 13.3 8.9 3.1 3.7 6.5e42.9 22.8 2.8 23.1 8.2eCZ3.0 27.1 1.9p0.8 30.2 4.3 77.1 -2.4 7.5 3.2 0.9 0.6 2.8 1.7e9.4 32.4 4.4 31.6 12.1eDK2.1 21.3 2.9p8.8 28.9 -1.0 56.3 -0.4 -2.5 1.0 -0.7 4.1 0.8 1.9e-7.4 11.7 5.0 110.2 16.7eDE1.1p21.4p3.2e7.4 51.1 1.7 45.0 -1.8p0.3 -2.9 3.2p0.2p0.1p1.2e10.6 19.7 6.4p53.4 13.7eEE4.1 25.4 1.6p4.3 30.9 9.8 98.8 -1.3 4.4 0.2 1.0 5.6 2.8 1.6e21.6 19.6 4.9 38.6 7.5eIE4.9 53.6 0.8 -29.8 -282.8 7.1 469.2 -1.2 -2.9 70.4 2.0 9.5 2.0 3.4e-35.4 25.1 2.3 38.7 7.4eEL1.8p10.6p1.3p-1.1 -133.6 2.4 23.8 -2.4p-2.0 1.6 1.9p4.0p0.9p35.5e-16.3 8.1e0.9p56.0 10.9eES2.1p20.1p1.3p2.4 -46.8 1.8 67.8 -1.9p0.0 0.8 -0.8p1.6p-0.7p3.1e-12.0 19.2 5.9p56.9 13.5eFR1.8p23.5p2.2e-0.2 -34.8 2.1 46.7 -1.8p-0.1 -2.1 2.6p0.7p0.6p2.5e-2.0 9.7 6.5p62.1 15.1eHR3.5 21.5 1.1p4.6 -1.5 6.3 60.2 -2.8 0.5 20.2 3.7 5.9 0.4p5.2e-16.0 20.0 na34.6 7.5eIT0.4 17.9 1.5p3.1 0.2 1.5 28.9 -2.0 -1.7 -3.9 4.4 0.7 -0.1 6.7e-2.9 -1.8 4.0 41.1 12.9eCY5.3 18.8 0.6p-5.6 -167.0 162.4 1824.7 -3.9 -2.5 21.0 1.7 6.6 1.4 18.1e-12.1 7.9 7.6 86.0 12.8eLV2.5 23.2 0.6p0.8 5.9 3.2 56.0 -2.7 2.8 1.7 6.9 1.2 2.6 3.9e16.9 29.9 2.7 20.2 9.8eLT4.6 21.5 1.0 5.2 5.1 6.3 48.2 -3.6 3.4 14.4 3.8 9.0 4.0 1.7e16.7 24.9 3.0 23.0 14.5eLU3.3 17.6 1.2p4.5 -4076.8 -538.6 6782.7 -3.2 0.9 8.8 -2.4 4.9 -0.2 0.6e8.3 24.5 4.0 66.8 15.0eHU4.6 27.1 1.5 1.2 -2.6 60.8 210.0 -3.8 -0.6 3.4 0.3 4.5 3.4 4.2e11.2 50.1 3.2 18.4 9.5eMT5.7 21.4p0.6p6.1 234.9 27.1 1426.9 -6.0 0.0 18.6 3.7 4.9 0.0 3.2e13.3 18.2 4.6p47.6 11.2eNL2.0 21.3 2.2p9.3 -1.8 -18.5 578.8 -0.9 0.9 -1.8 1.9 1.1 0.0p1.8e-1.3 26.3 5.1 99.6p16.1eAT1.5 25.0 3.2p2.1 -1.4 -3.0 58.0 -2.2 1.1 -0.8 0.5 2.5 0.3 2.2e5.4 16.6 4.7 49.6 11.2ePL4.7 18.3 1.3 2.4 -12.5 2.8 47.2 -2.4 1.6 22.7 3.6 4.3 4.8 6.1e5.2 20.3 1.9 34.4 9.7ePT2.7 18.1 1.4 1.3 -46.7 4.3 81.1 -2.5 -1.6 6.6 4.3 3.2 1.9 6.1e-5.7 32.1 3.2 63.5 10.8eRO4.2 22.6 0.5 -3.6 -4.1 2.9 44.3 -1.7 -1.2 15.6 4.8 4.5 4.1 4.3e32.7 15.8 2.2 15.5 9.1eSI3.3 19.6 2.0p5.6 1.1 4.0 40.5 -3.5 0.4 14.0 2.0 3.6 0.8 3.4e-2.0 25.6 2.2 26.9 8.2eSK2.6 21.6 0.8 -2.6 -14.1 2.2 69.9 -3.1 1.9 -0.3 -2.0 -0.1 1.5 2.9e6.9 24.1 3.3 43.6 9.6eFI1.3 23.7 2.8 -0.2 6.8 5.8 51.0 -1.7 -1.7 1.5 2.4 5.9 -0.4 1.4e-2.9 3.7 7.0 65.7 16.6eSE2.0 24.4 3.4e5.5 -7.8 3.2 87.8 -1.1 -9.7 -4.4 -0.8 5.1 1.4 1.1e6.2 8.3 4.7 88.5 17.9e1) House price index e = estimate by NCB for EL. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworldvolume exports of goods and services)Flags:e:Estimated. p:Provisional.  
 
 
 
 
 
 
 
Table 2.2 (continued): Auxiliary indicators, 2019 

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 ppBE1.6 69.0 2.3 14.2 9.3 -0.6 19.5b-1.4b14.8b-0.7b4.4b-1.1b12.4b-2.5bBG0.3 73.2 2.4 8.9 13.7 -4.5 32.8 -7.6b22.6 -0.3b20.9 -11.0b9.3 -2.6bCZ0.2 76.7 0.6 5.6 5.7 -1.3 12.5 -0.8 10.1 0.4 2.7 -2.1 4.2 -2.5 DK1.4 79.1 0.8 10.1 7.7 1.0b16.3 -0.5 12.5 0.6 2.6 0.0 9.3 -1.4 DE0.9p79.2 1.2 5.8 5.7 -1.0 17.4 -2.3 14.8 -1.7 2.6 -1.1 7.6 -2.0 EE1.3 78.9 0.9 11.1 6.9 -2.2 24.3 -0.1 21.7 0.0 3.3 -1.4 5.4 -0.4 IE2.9 73.3 1.6 12.5 10.1 -2.5 20.6 -3.8 13.1 -3.7 5.4 -1.3 13.6 -4.2 EL0.9p68.4 12.2 35.2 12.5 -3.3 30.0 -5.6 17.9 -3.3 16.2 -6.2 13.8 -3.4 ES2.8p73.8 5.3 32.5 12.1 -2.5 25.3 -2.6 20.7 -1.6 4.7 -1.1 10.8 -4.1 FR1.2p71.7 3.4 19.5 10.6 -1.3 17.9 -0.3 13.6 0.0 4.7 0.3 7.9 -0.5 HR3.1p66.5 2.4 16.6 11.8 -5.1 23.3 -4.6 18.3 -1.2 7.2 -5.3 9.2 -3.8 IT0.5 65.7 5.6 29.2 18.1 -1.8 25.6 -4.4 20.1 -0.5 7.4 -4.7 10.0 -2.8 CY3.8 76.0 2.1 16.6 13.7 -2.3 22.3 -5.4 14.7 -1.4 9.1 -4.5 6.8 -3.8 LV-0.1 77.3 2.4 12.4 7.9 -3.3 27.3 -1.2 22.9 1.1 7.8 -5.0 7.6 0.4 LT0.6 78.0 1.9 11.9 8.6 -0.8 26.3 -3.8 20.6 -1.3 9.4 -4.1 7.5 -2.7 LU3.5 72.0 1.3 17.0 5.6 0.2 20.6 1.5b17.5 1.7b1.3 -0.3b7.5 0.9bHU1.1 72.6 1.1 11.4 11.0 0.0 18.9 -7.4 12.3 -2.2 8.7 -7.5 5.0 -3.2 MT5.7 75.9 0.9 9.3 8.6 -0.2 20.1 -0.2 17.1 0.6 3.6 -0.8 4.9 -2.4 NL2.0p80.9 1.0 6.7 4.3 -0.3 16.5 -0.2b13.2 0.5b2.5 -0.1b9.2 -0.5bAT1.1 77.1 1.1 8.5 7.1 -0.6 16.9 -1.1 13.3 -0.8 2.6 -0.4 7.8 -0.3 PL0.0 70.6 0.7 9.9 8.1 -2.4 18.2 -3.7 15.4 -1.9 3.6 -3.1 4.7 -1.7 PT0.8 75.5 2.8 18.3 8.0 -2.6 21.6 -3.5 17.2 -1.8 5.6 -2.8 6.2 -2.9 RO0.1 68.6 1.7 16.8 14.7 -2.7 31.2 -7.6 23.8 -1.5 14.5 -9.3 6.0 -2.2 SI2.5 75.2 1.9 8.1 7.0 -1.0 14.4 -4.0 12.0 -1.9 2.6 -2.8 5.2 -2.2 SK1.0 72.7 3.4 16.1 10.3 -2.0 16.4 -1.7 11.9 -0.8 7.9 -0.3 6.2 -0.3 FI1.8 78.3 1.2 17.2 8.2 -1.7 15.6 -1.0 11.6 0.0 2.4 0.2 9.7 -1.7 SE0.6 82.9 0.9 20.1 5.5 -1.0 18.8 0.5 17.1 0.9 1.8 1.0 8.6 0.1 Severely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. p:Provisional. Year2019Employment(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 population1) Income and Living Conditions indicators, b = major substantive and methodological changes for BE.Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 2.3: Auxiliary indicators, 2018 

29 

Year2018Real 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 23.6 2.7e-0.7 34.4 -7.7 187.5 -3.4 2.8 -3.5 0.9 -3.1 0.3 2.3e-1.2 9.4 5.9 58.9 13.1eBG2.7 18.8 0.8 2.0 36.4 2.7 84.5 -3.4 -1.1 10.5 7.5 -2.0 2.8 7.7e47.8 24.0 2.7 23.0 7.5eCZ3.2 26.3 1.9 0.7 27.9 3.4 78.9 -2.9 7.6 8.6 1.9 0.0 1.8 2.1e4.8 30.0 4.3 31.8 12.5eDK2.0 21.7 3.0 7.3 15.9 2.5 57.8 -0.2 -1.8 -2.2 1.0 -0.3 0.5 2.3e-5.2 14.8 4.8 111.9 16.4eDE1.1p21.1p3.1 7.9 45.8 4.0 45.3 -2.0p0.4 1.0 3.8p-1.4p-0.3p1.4e11.7 21.7 6.2p52.6 13.9eEE4.1 24.7 1.4 2.2 24.6 4.0 94.4 -1.0 4.1 -2.5 2.9 0.2 3.2 1.3e16.3 17.1 4.5 38.7 6.9eIE9.0 28.2 1.1 -10.7 -250.3 19.0 487.7 -1.4 -3.0 74.5 -1.3 7.8 5.7 5.5e-40.1 31.3 2.3 43.0 6.7eEL1.7 11.1 1.2 -2.7 -135.1 1.9 19.4 -2.5 -1.5 4.0 4.3 5.4 -2.8 41.6e-13.0 -1.6e0.7 58.7 11.5eES2.3 19.4 1.2 2.4 -52.7 4.0 67.6 -2.1 -0.2 2.0 -1.0 -2.0 0.1 3.7e-15.3 18.6 5.4 59.0 13.6eFR1.9 22.9 2.2p-0.7 -34.1 2.8 44.6 -1.9 -0.1 -1.7 2.9 0.8 0.9 2.7e-0.2 7.3 6.3 60.4 15.3eHR2.9 20.1 1.0 3.1 -13.6 2.0 55.5 -3.2 1.2 19.7 3.2 0.0 0.3p7.3e-13.9 11.1 na33.9 7.5eIT0.9 17.8 1.4 2.5 -5.4 2.1 27.6 -2.3 -1.3 -2.4 6.2 -1.6 0.0 8.4e-1.7 -1.4 4.1 40.8 13.1eCY5.7 18.8 0.6 -3.4 -181.4 -2.6 1822.4 -4.1 -3.2 19.2 2.6 3.6 0.3 20.2e-9.5 4.3 6.5 96.4 14.1eLV4.0 22.1 0.6 1.6 0.7 1.3 55.7 -3.4 1.3 6.1 5.1 0.8 2.5 5.3e-3.5 29.3 2.5 21.0 7.8eLT4.0 20.9 0.9 1.8 -2.9 2.4 42.8 -4.0 3.0 0.7 3.7 3.1 2.6 2.6e7.5 23.2 2.7 22.6 10.4eLU2.0 16.3 1.2 7.5 -3596.0 -836.7 7350.1 -3.3 0.4 11.7 -0.7 -0.1 -1.6 0.8e10.3 19.9 3.7 65.4 14.6eHU5.4 24.7 1.5b2.5 -3.9 -42.3 161.1 -3.8 -0.9 5.9 0.6 1.3 3.0 5.4e7.0 45.5 3.0 17.7 9.4eMT6.1 21.1p0.6 7.3 230.3 29.1 1476.5 -8.6 0.3 16.4 4.1 -3.8 0.1 3.1e11.1 17.5 4.8p46.9 12.2eNL2.4 20.4 2.1 10.8 -17.0 -39.0 603.6 -1.4 -0.8 -0.7 1.3 0.6 -0.4 1.9e-1.4 23.6 4.9 103.4 16.1eAT2.5 24.1 3.1p0.3 -6.2 -6.6 61.4 -2.5 1.7 0.5 2.1 1.4 0.8 2.6e5.3 19.6 4.5 49.7 11.4ePL5.4 18.2 1.2 0.8 -16.8 3.0 48.1 -2.7 -3.0 23.6 4.3 3.2 4.8 6.2e0.4 12.7 1.9 35.0 9.3ePT2.8 17.5 1.4 1.5 -55.3 3.2 79.6 -2.5 -0.3 6.1 4.5 0.4 0.5 9.4e-6.4 29.0 3.1 66.0 11.0eRO4.5 21.1 0.5 -3.4 -3.9 3.0 43.7 -1.6 -4.1 20.7 5.2 1.6 4.4 5.0e19.5 18.6 2.0 15.8 9.3eSI4.4 19.3 2.0 5.5 -0.9 2.9 39.2 -2.9 -0.4 16.9 2.5 2.5 1.2 6.0e-0.6 21.6 2.1 26.9 8.2eSK3.8 21.0 0.8 -1.2 -16.6 2.1 71.1 -4.0 -0.4 -0.2 -1.7 1.4 1.8 3.2e5.3 21.3 3.3 42.4 9.5eFI1.1 24.1 2.8 -1.8 -0.8 -3.9 46.6 -2.0 -1.4 -6.2 3.8 -2.2 -1.3 1.5e1.2 3.4 7.2 65.2 16.1eSE2.0 25.2 3.3 2.7 -14.5 -0.1 86.2 -1.3 -7.6 -8.8 -1.1 0.5 0.3 1.0e5.9 14.4 5.2 88.1 18.1e1) House price index e = estimate by NCB for EL. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworldvolume exports of goods and services)Flags:b:Break in series. e:Estimated. p:Provisional.  
 
 
 
 
 
 
 
 
Table 2.3 (continued): Auxiliary indicators, 2018 

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 ppBE1.5 68.6 2.9 15.8 9.2 -3.0 20.0 -1.1 16.4 1.5 5.0 -0.8 12.6 -2.3 BG-0.1 71.5 3.0 12.7 15.0 -4.3 32.8 -8.5 22.0 0.0 20.9 -13.3 9.0 -2.6 CZ1.3 76.6 0.7 6.7 5.6 -1.9 12.2 -1.8 9.6 -0.1 2.8 -2.8 4.5 -2.3 DK1.5 78.2 1.0 10.5 7.7 0.7 17.0 -0.7 12.7 0.5 3.4 -0.3 9.8 -1.8 DE1.4p78.6 1.4 6.2 5.9 -0.3 18.7 -1.3 16.0 -0.7 3.1 -1.3 8.1 -1.7 EE0.9 79.1 1.3 11.8 9.8 -1.0 24.4 0.2 21.9 0.3 3.8 -0.7 5.2 -1.4 IE3.2 72.9 2.1 13.8 10.1 -4.2 21.1 -5.1 14.9 -1.3 4.9 -3.6 13.0 -5.7 EL4.6 68.2 13.6 39.9 14.1 -3.1 31.8 -3.9 18.5 -2.9 16.7 -5.5 14.6 -2.2 ES2.2 73.7 6.4 34.3 12.4 -3.2 26.1 -2.5 21.5 -0.6 5.4 -1.0 10.7 -4.7 FR1.0 71.9 3.8 20.8 11.1 -0.9 17.4 -0.3 13.4 -0.2 4.7 0.2 8.0 -0.6 HR2.6p66.3 3.4 23.7 13.6 -4.5 24.8 -4.3 19.3 -0.7 8.6 -5.1 11.2 -3.2 IT0.9 65.6 6.2 32.2 19.2 -2.2 27.3 -1.4 20.3 0.4 8.5 -3.0 11.3 -0.4 CY5.3 75.0 2.7 20.2 13.2 -2.1 23.9 -5.0 15.4 -0.8 10.2 -5.2 8.6 -2.3 LV1.5 77.7 3.1 12.2 7.8 -2.7 28.4 -2.5 23.3 0.8 9.5 -6.9 7.6 -0.2 LT1.4 77.3 2.0 11.1 8.0 -1.2 28.3 -1.0 22.9 0.7 11.1 -2.8 9.0 -0.2 LU3.6 71.1 1.4 14.2 5.3 -0.9b20.7 2.2 16.7 1.4 1.3 -0.7 8.3 2.6 HU2.3 71.9 1.4 10.2 10.7 -0.9b19.6 -8.6 12.8 -2.1 10.1 -9.3 5.7 -3.7 MT6.0 74.7 1.8 9.1 7.3 -3.2 19.0 -4.0 16.8 0.2 3.0 -5.5 5.5 -3.7 NL2.7 80.3 1.4 7.2 4.2 -0.5 16.7 0.3 13.3 1.7 2.4 -0.2 8.6 -1.6 AT1.7 76.8 1.4 9.4 6.8 -0.7 17.5 -0.8 14.3 0.4 2.8 -0.8 7.3 -0.9 PL0.5 70.1 1.0 11.7 8.7b-2.3b18.9 -4.5 14.8 -2.8 4.7 -3.4 5.6 -1.3 PT2.3 75.1 3.1 20.3 8.4 -2.9 21.6 -5.0 17.3 -2.2 6.0 -3.6 7.2 -3.7 RO0.1 67.8 1.8 16.2 14.5 -3.6 32.5 -4.9 23.5 -1.9 16.8 -5.9 7.4 -0.5 SI3.2 75.0 2.2 8.8 6.6 -2.9 16.2 -3.0 13.3 -1.0 3.7 -2.1 5.4 -2.0 SK2.0 72.4 4.0 14.9 10.2 -3.5 16.3 -2.1 12.2 -0.1 7.0 -2.0 5.2 -1.9 FI2.5 77.9 1.6 17.0 8.5 -2.1 16.5 -0.3 12.0 -0.4 2.8 0.6 10.8 0.0 SE1.6 82.7b1.1b17.4b6.0b-0.7b18.0 -0.6 16.4 0.1 1.6 0.5 9.1 0.4 People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. p:Provisional. Year2018Employment(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 15-241) Young people neither in employment nor in education and training, b = changes in the weighting procedure for PL. Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 2.4: Auxiliary indicators, 2017 

31 

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)BE1.6 23.3 2.7 0.8 44.7 -7.2 201.4 -2.5 2.6 -0.3 2.1 0.1 0.1 2.7e0.8 8.2 5.7 58.9 13.2eBG2.8 18.3 0.7 4.3 32.9 3.3 86.4 -3.0 -3.2 17.9 5.7 0.4 1.0 10.2e53.9 19.5 2.8 22.6 7.7eCZ5.2 24.9 1.8 2.4 26.5 5.2 77.3 -2.5 5.6 6.4 3.0 1.8 3.6 2.8e1.2 24.4 4.2 31.5 12.4eDK2.8 21.2 2.9 8.1 18.6 1.0 53.9 -0.1 -0.7 -0.3 2.8 -0.6 1.3 2.5e-2.7 17.7 4.6 113.8 16.4eDE2.7 20.4 3.1 7.7 42.9 3.0 43.8 -1.7 0.8 3.7 5.7 -0.5 1.3 1.8e8.4 19.5 6.0 52.9 14.1eEE5.8 25.9 1.3 3.2 19.8 6.5 95.5 -0.6 2.3 -0.1 4.1 -0.6 3.0 1.9e23.9 18.1 4.6 39.4 6.8eIE8.9 33.3 1.2 -8.2 -264.7 19.2 479.1 -1.2 -2.2 67.8 -0.1 4.2 5.8 9.9e-34.6 32.8 2.1 46.8 6.6eEL1.1 11.8 1.2 -1.4 -128.9 1.7 18.0 -1.8 -1.9 -2.4 8.3 3.1 1.6 45.0e-11.3 -8.3e0.6 58.2 8.8eES3.0 18.7 1.2 3.0 -57.4 2.5 64.8 -1.8 -1.1 7.5 1.0 0.1 0.3 4.4e-12.3 15.1 4.8 61.2 13.5eFR2.3 22.5 2.2p-0.8 -33.7 1.4 44.4 -1.7 -0.7 0.6 5.3 -1.0 1.1 3.1e-0.3 2.8 6.3 58.4 15.2eHR3.4 19.7 0.9 4.4 -19.8 0.9 57.4 -2.8 0.6 20.7 2.4 1.5 0.9p8.8e-14.5 1.7 na34.0 7.4eIT1.7 17.5 1.4 2.7 -5.5 0.6 26.2 -1.9 -0.8 -1.3 8.6 0.0 0.5 11.2e-1.1 -4.6 4.0 40.8 12.2eCY5.9 20.9 0.6 -4.7 -219.6 63.0 1997.0 -4.0 -3.9 18.9 3.2 5.8 0.4 30.7e-9.8 1.0 5.0 105.3 12.1eLV3.3 20.6 0.5 2.2 -3.1 3.7 59.5 -2.9 0.7 5.4 3.8 1.0 3.3 5.6e7.6 14.0 2.1 22.3 8.9eLT4.3 20.1 0.9 1.8 -6.5 2.8 44.2 -3.0 1.4 1.6 4.9 8.1 5.0 3.2e8.3 19.0 2.7 22.4 10.7eLU1.3 17.8 1.3 4.4 -3837.5 -94.6 8286.9 -2.7 0.0 21.4 -0.2 -5.6 -2.1 0.7e13.9 18.0 3.6 62.5 13.2eHU4.3 22.1 1.3 2.8 -8.7 -8.2 208.4 -3.7 0.4 8.2 2.1 1.1 2.3 8.4e6.9 43.9 2.7 18.6 9.7eMT11.0 21.7 0.6 6.5 226.4 28.6 1529.6 -6.1 1.2 21.8 4.0 5.4 2.8 3.1e7.4 17.5 4.3 47.3 13.5eNL2.9 20.1 2.2 10.8 -19.0 26.4 640.8 -0.7 -0.7 -0.6 1.8 1.1 0.5 2.1e-1.7 17.0 4.5 106.8 16.7eAT2.3 23.6 3.1 1.3 -4.3 3.2 71.1 -2.1 1.8 0.4 2.5 -0.5 0.6 3.5e5.6 19.9 4.5 50.3 11.6ePL4.8 17.5 1.0 0.9 -20.7 2.2 49.6 -2.0 -3.2 26.0 6.5 4.2 3.4 6.6e3.4 7.4 2.2 34.9 8.8ePT3.5 16.8 1.3 2.2 -58.4 4.9 83.0 -2.2 0.8 11.8 6.9 3.0 0.2 13.3e-9.2 20.6 2.8 69.2 10.6eRO7.3 22.4 0.5 -1.9 -5.5 2.8 44.5 -1.3 -5.1 35.5 5.1 2.4 4.8 6.6e33.9 15.6 2.7 16.1 9.6eSI4.8 18.3 1.9 5.5 -9.6 2.5 37.9 -2.6 -1.6 15.6 3.4 5.7 1.9 9.2e1.2 12.7 2.1 27.1 8.0eSK3.0 21.2 0.9 -1.8 -15.2 4.4 71.5 -2.9 -1.7 3.0 -1.6 -1.7 0.8 3.7e3.8 19.0 3.1 41.0 9.3eFI3.2 23.3 2.7 -0.7 4.8 6.9 56.8 -1.6 -1.2 -7.0 3.8 3.4 2.1 1.2e2.6 2.4 6.8 64.4 18.9eSE2.6 25.1 3.4 2.9 -10.0 5.2 88.5 -0.9 -4.0 -7.5 0.4 -1.3 0.1 1.3e5.7 30.6 5.7 87.2 16.5eFlags:e:Estimated. p:Provisional. 1) House price index e = estimate by NCB for EL.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworldvolume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.4 (continued): Auxiliary indicators, 2017 

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 ppBE1.6 68.0b3.5b19.3b9.3b-2.7b20.6 -0.6 15.9 0.4 5.2 -0.7 13.9 -0.7 BG1.8 71.3 3.4 12.9 15.3 -4.9 38.9 -1.2b23.4 1.6 30.0 -3.1 11.1 -1.0 CZ1.5 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 DK1.5 77.9b1.2b12.4b7.6b1.2b17.2 -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 -1.8bIE3.0 72.7 3.0 14.4 10.9b-4.4b22.7 -5.6 15.6 -1.2 5.2 -4.0 16.2 -4.8 EL-0.5 68.3 15.6 43.6 15.3 -3.8 34.8 -1.2 20.2 -1.9 21.1 -0.4 15.6 -1.6 ES2.6 73.9 7.7 38.6 13.3 -3.8b26.6 -2.6 21.6 -0.6 5.1 -2.0 12.8 -4.3 FR1.1 71.5 4.2 22.1 11.4 0.2b17.0 -1.5 13.2 -0.1 4.1 -0.7 8.1 -1.5 HR2.4p66.4 4.6 27.4 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 CY5.4 73.9 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-0.7 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 LU3.5 70.2 2.1 15.4 5.9 -0.4 19.4 0.4 16.4 0.0 1.2 -0.2 6.9 0.8 HU1.9 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 MT8.0 72.2 2.0 10.6 8.6b-1.7b19.3 -4.6 16.7 0.9 3.3 -7.0 7.1 -2.8 NL2.4 79.7 1.9 8.9 4.0 -1.5 17.0 0.5 13.2 1.6 2.6 -0.6 9.5 -0.7 AT1.6 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 PL1.3 69.6 1.5 14.8 9.5 -2.5 19.5 -5.2 15.0 -2.0 5.9 -4.5 5.7 -1.6 PT3.3 74.7 4.5 23.9 9.3 -3.0 23.3 -4.2 18.3 -1.2 6.9 -3.7 8.0 -4.2 RO2.4 67.3 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 FI1.0 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 SE2.5 82.5 1.2 17.9 6.2 -1.0 17.7 -0.5 15.8 0.2 1.1 0.1 8.8 -0.2 People living in households with very low work intensity -% of total population aged 0-59Year2017Employment(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 populationFlags:b:Break in series. p:Provisional. 1)LabourFourceSurveyindicators,b=changeinthesurveymethodologyforBE;b=improvementinthedatacollectionandintroductionofCAWI(computer-assistedwebinterviewing)techniqueforDK.2)Youngpeopleneitherinemploymentnorineducationandtraining,b=introductionofthe new Labour Force Survey in substitution to the Quarterly National Household Survey (QNHS) as data source for IE; b = changes in the weighting procedure for MT.Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 2.5: Auxiliary indicators, 2016 

33 

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)BE1.3 23.3 2.5 0.7 52.2 12.2 221.9 -2.2 1.9 -7.9 2.6 3.9 0.0 3.2e0.0 3.8 5.7 58.2 14.2eBG3.0 18.4 0.8 5.3 30.1 2.7 89.4 -2.4 -4.8 6.1 3.1 6.3 2.5 12.8e53.4 11.6 2.7 22.7 7.7eCZ2.5 24.9 1.7 2.9 27.6 5.5 78.0 -2.0 -3.8 -0.4 3.4 2.0 0.9 4.0e0.4 14.2 3.8 31.1 10.7eDK3.2 21.0 3.1 7.8 15.5 2.5 56.3 0.0 -0.4 -5.8 3.4 1.8 1.5 3.3e1.5 16.8 4.2 116.4 16.7eDE2.2 20.3 2.9 8.6 37.9 1.8 42.9 -1.5 1.0 -1.0 6.4 0.2 1.0 2.6e5.1 16.1 6.0 53.3 18.4eEE3.2 24.4 1.2 2.3 18.1 3.8 98.5 -1.0 0.2 -3.7 3.7 2.5 2.9 1.7e32.2 27.3 4.4 40.0 7.7eIE2.0 35.8 1.2 -5.8 -249.3 34.8 517.9 -1.1 -1.1 53.8 -0.3 2.3 -1.6 13.1e-29.7 39.6 1.8 52.4 7.4eEL-0.5 11.0 1.0 -1.2 -128.4 1.4 15.8 -1.6 -3.3 -12.5 7.3 -2.7 -3.8 46.3e-9.2 -14.2e0.7 61.3 10.1eES3.0 18.0 1.2 3.4 -61.7 3.6 63.8 -1.5 -2.3 -0.2 0.4 3.1 0.9 5.7e-10.0 8.7 4.4 64.5 13.2eFR1.1 21.8 2.2 -0.4 -30.4 1.3 44.7 -1.4 0.0 -1.9 6.4 -0.5 0.5 3.6e-0.1 -1.8 6.0 57.1 16.0eHR3.5 19.8 0.9 3.6 -27.9 0.8 57.1 -2.6 -1.1 6.2 1.5 4.7 3.3p10.7e-11.5 -3.6 na35.1 7.2eIT1.3 17.2 1.4b2.4 -11.3 1.4 26.3 -1.5 -0.9 -6.9 8.6 -0.4 -0.1 15.0e0.7 -8.1 4.1 41.2 14.2eCY6.5 18.1 0.5 -4.1 -227.6 40.8 2069.6 -3.3 -3.5 4.7 3.9 4.8 1.7 35.4e-11.2 -2.9 4.4 116.2 10.7eLV2.4 19.3 0.4 2.8 -6.9 1.2 57.6 -2.4 -0.3 6.0 0.4 1.6 2.7 6.3e30.2 11.1 2.0 23.4 9.9eLT2.5 19.9 0.8 0.4 -12.6 2.7 44.7 -2.6 -0.9 -4.3 4.0 2.6 0.2 4.0e6.2 16.3 3.0 22.8 11.6eLU5.0 17.3 1.3 4.5 -3639.2 56.8 8972.9 -2.3 -0.4 22.2 0.5 3.0 1.9 0.8e8.8 16.6 4.1 60.5 13.4eHU2.2 19.5 1.2 4.5 -11.9 55.2 257.0 -3.1 -5.3 -5.1 1.5 1.5 -1.5 11.9e7.6 33.6 2.4 20.1 9.9eMT3.8 24.3 0.6 -0.2 213.1 23.8 1646.7 -8.1 1.8 14.4 3.1 -0.7 -0.7 4.1e7.2 14.4 3.6 50.1 15.8eNL2.2 20.0 2.2 7.9 -34.1 29.8 641.2 -0.6 -0.6 -5.9 2.0 -0.6 0.6 2.4e0.1 9.7 4.1 109.6 17.7eAT2.0 23.1 3.1e2.6 -9.4 -7.5 65.0 -1.9 2.1 -5.8 3.2 0.7 0.7 5.1e5.7 17.8 4.3 51.1 12.5ePL3.1 18.0 1.0 0.3 -22.9 3.9 50.5 -1.4 -5.7 14.3 4.9 7.0 2.3 6.4e4.0 4.4 2.4 36.6 9.4ePT2.0 15.5 1.3 2.1 -64.2 3.6 80.2 -1.6 0.3 2.1 8.4 2.1 0.4 17.2e-11.2 15.1 2.6 72.6 12.9eRO4.7 22.9 0.5 0.9 -6.4 3.3 45.4 -0.9 -2.8 21.0 3.6 14.0 5.9 9.7e23.4 6.7 2.6 16.7 9.8eSI3.2 17.4 2.0 4.0 -14.7 3.2 37.1 -2.1 -1.8 0.3 2.9 3.9 1.3 12.3e2.2 -2.8 2.1 27.3 8.0eSK1.9 21.1 0.8 -1.0 -14.8 5.3 70.9 -2.5 -2.2 4.1 -2.3 2.7 -0.4 4.6e-0.7 14.0 3.1 38.4 9.2eFI2.8 22.7 2.7 -1.9 10.2 2.1 54.5 -1.4 0.3 -18.3 3.2 1.6 2.3 1.4e5.4 0.5 6.6 64.1 17.7eSE2.1 24.2 3.3p2.3 -13.7 2.9 85.3 -0.8 -7.9 -12.1 1.3 0.1 0.2 1.2e7.4 34.0 5.3 85.7 17.6eFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index e = estimate by NCB for EL. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworldvolume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.5 (continued): Auxiliary indicators, 2016 

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 ppBE1.3 67.6 4.0 20.1 9.9 -2.8 20.9 0.1 15.5 0.4 5.5 0.4 14.9 0.9 BG0.5 68.7 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 DK1.7 77.5b1.2b12.2b6.7b0.1b16.8 -1.5 11.9 0.0 2.6 -1.0 10.7 -1.2 DE1.2 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 IE3.7 72.7 4.2 16.8 12.6 -3.8 24.4 -5.5 16.8 1.1 6.7 -3.2 17.8 -6.1 EL3.4 68.2 17.0 47.3 15.8 -4.6 35.6 -0.1 21.2 -1.9 22.4 2.1 17.2 -1.0 ES2.1 74.2 9.5 44.4 14.6 -4.0 27.9 0.6 22.3 1.9 5.8 -0.4 14.9 -0.8 FR0.6 71.4 4.6 24.5 11.9 0.7b18.2 0.1 13.6 -0.1 4.4 -0.5 8.4 0.3 HR0.2p65.6 6.6 31.3 16.9 -2.7 27.9 -2.0 19.5 0.0 12.5 -2.2 13.0 -1.8 IT1.4 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 CY4.7 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 LT2.3 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 18.9 5.4 0.4 19.1b0.1b15.8b-0.1b1.6b-0.2b6.6b0.0bHU3.7 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 MT4.5 70.6 2.4 10.7 8.8 -1.1 20.3 -4.3 16.5 0.7 4.4 -5.8 7.3 -1.8 NL1.5 79.7 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 PL0.8 68.8 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 28.0 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 Employment(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 0-59Flags:b:Break in series. p:Provisional. Year20161)LabourForceSurveyindicators,b=datacollectionimprovement,introductionofCAWI(computer-assistedwebinterviewing)techniqueforDK.2)Youngpeopleneitherinemploymentnorineducationandtraining,b=dataareimpactedfromthechangesinthequestionnaireintroducedin2013andinclusionofFrenchoverseasdepartments(DROM)forFR.3)IncomeandLivingConditionsindicators,b=forBG,theincreaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesize.Thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime;b=forLU,newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment.BettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister;b=forNL, introduction of CAWI, oversampling of lower income groups, use of register information for housing costs, changes in fieldwork period, weighting, calculation of imputed rent.Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 2.6: Auxiliary indicators, 2015 

35 

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)BE2.0 23.0 2.4 1.4 51.7 -4.3 225.3 -2.7 0.1 -13.3 0.3 0.6 1.2 3.8e1.9 2.3 5.7 57.9 14.7eBG3.4 20.9 1.0 3.1 21.4 4.4 92.5 -3.8 -4.1 13.5 3.6 3.3 3.1 14.5e54.3 2.0b1.4 23.3 7.7eCZ5.4 26.5 1.9 2.6 20.3 0.9 75.3 -2.4 -8.2 -1.5 0.8 2.9 3.9 na-1.2 6.5 3.8 30.2 10.1eDK2.3 19.9 3.1 7.9 9.6 0.6 50.0 0.0 -1.5 -8.2 1.6 0.5 1.0 3.9e4.0 15.3 4.0 128.9 16.7eDE1.5 20.0 2.9 8.6 34.5 1.9 42.2 -2.0 1.0 -2.8 1.9 2.3 0.5 3.0e0.5 11.4 5.8 53.6 18.6eEE1.9 24.5 1.5 3.8 16.7 -3.2 98.0 -1.5 1.5 7.7 2.9 -4.6 -1.0 2.2e44.9 34.5 4.0 39.8 7.7eIE25.2 24.1 1.2 3.9 -243.3 82.0 497.7 -1.5 -1.5 38.3 1.9 36.1 20.8 14.9e-29.7 31.5 1.5 56.5 7.8eEL-0.2 10.8 1.0 0.3 -128.5 0.7 14.8 -2.2 -5.3 -13.7 4.5 1.9 2.8 46.8e-9.9 -21.7e0.8 62.8 11.0eES3.8 18.0 1.2 2.7 -64.8 1.9 61.2 -2.0 -1.4 -2.9 -3.6 1.2 1.0 6.3e-5.7 -5.6 4.0 68.0 13.7eFR1.1 21.5 2.3p-0.4 -29.7 1.8 43.9 -1.8 -0.6 -3.3 2.8 1.5 0.9 4.0e1.1 -4.7 5.9 56.1 17.3eHR2.5 19.3 0.8 4.0 -39.1 0.1 53.7 -3.4 -1.2 -5.4 0.5 7.2 1.3p13.0e-7.7 -8.2 na38.4 8.0eIT0.8 16.9 1.3 1.8 -17.0 0.7 25.5 -2.0 -0.7 -9.4 2.5 1.2 0.1 16.5e3.5 -14.3 4.1 41.8 13.1eCY3.4 12.9 0.5 -0.4 -258.2 146.0 2131.8 -4.0 -2.6 -4.4 1.4 5.8 1.8 36.3e-7.3 -7.1b3.6 126.8 10.7eLV3.9 21.9 0.6 2.2 -10.9 3.0 59.1 -3.5 -2.2 13.6 0.5 -0.1 2.4 6.5e43.4 9.5 2.4 24.3 9.5eLT2.0 19.6 1.0 0.6 -13.5 2.5 42.9 -3.6 -1.6 6.8 1.4 -0.7 0.6 5.6e11.2 11.7 2.8 22.3 9.0eLU2.3 17.3 1.3 4.6 -3679.7 960.6 9052.3 -2.9 0.1 18.5 1.3 2.0 -0.3 1.1e12.9 15.5 3.8 59.0 13.4eHU3.7 22.2 1.3 6.9 -18.3 -4.3 219.8 -4.1 -7.3 -9.0 -0.5 4.3 1.4 15.2e6.3 14.8 2.2 21.1 11.2eMT9.6 24.2 0.7 5.4 191.3 32.8 1662.6 -8.5 0.8 9.5 2.0 12.3 5.6 5.1e5.0 8.1 2.9 50.7 14.1eNL2.0 22.1 2.2 5.8 -53.5 42.2 615.5 -1.1 0.8 -6.4 -0.1 4.3 1.0 2.7e-0.4 -1.8 3.5 111.3 18.0eAT1.0 22.7 3.1 1.2 -11.3 -2.1 75.4 -2.3 2.0 -8.8 0.4 -0.1 0.4 6.5e6.1 14.2 4.3 50.8 13.5ePL4.2 20.1 1.0 1.4 -26.0 3.2 48.1 -1.6 -2.1 9.1 2.8 4.9 2.7 6.6e1.4 -2.0 2.5 36.0 9.2ePT1.8 15.5 1.2 1.5 -72.3 0.6 81.0 -2.3 -1.1 1.2 4.7 3.2 0.4 17.5e-12.0 5.4 2.4 77.0 12.4eRO3.0 24.8 0.5 1.6 -12.9 2.4 44.4 -0.9 2.2 21.9 5.7 1.5 4.3 13.4e20.5 0.5 2.4 17.4 9.8eSI2.2 18.7 2.2 4.9 -19.0 4.0 34.4 -3.1 -0.9 -4.5 0.6 1.6 0.9 17.9e2.1 -10.8 2.1 27.6 8.6eSK5.2 23.7 1.2 1.1 -14.0 1.7 62.7 -3.0 -1.5 4.4 -3.2 3.5 3.2 4.4e-0.9 7.8 2.5 34.4 9.0eFI0.5 21.2 2.9 -0.9 15.2 7.4 57.3 -1.8 0.9 -22.8 1.9 -2.7 0.6 1.5e8.4 0.8b6.0 63.3 19.1eSE4.5 23.8 3.2 3.2 -15.1 2.0 83.9 -0.8 -7.9 -10.0 0.3 2.7 3.0 1.3e5.3 30.2 4.7 82.4 18.8e1) House price index e = estimate by NCB for EL; b = break in time series due to full implementation of harmonised EU methodology for BG and CY; b = break in time series due to new calculation method for New dwellings (apartments) for FI.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworldvolume exports of goods and services)Flags:b:Break in series. e:Estimated. p:Provisional.  
 
 
 
 
 
 
 
 
Table 2.6 (continued): Auxiliary indicators, 2015 

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 ppBE0.9 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 BG0.4 69.3 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 76.9 1.6 12.2 7.0 -0.3 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 IE3.6 72.1 5.3 20.2 14.3 -4.9 26.2 -3.9 16.2 -0.1 8.5 -1.4 18.7 -4.7 EL-2.9 67.8 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 HR1.3p66.9 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 CY1.6 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 LT1.4 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 70.9b1.9b17.3b6.2b0.3b18.5 0.1 15.3 0.2 2.0 0.7 5.7 -0.4 HU2.2 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 MT3.8 68.8 2.7 11.6 10.5 -0.3 23.0 -0.1 16.6 1.5 8.5 -0.7 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 Flags:b:Break in series. p:Provisional. Year2015Employment(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 0-591) Labour Force Survey indicators, b = change in the sampling strategy and data collection tehnique for LU.Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 2.7: Auxiliary indicators, 2014 

37 

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)BE1.6 22.8 2.4 0.6 51.8 -2.7 226.9 -3.8 -0.1 -8.3 -2.5 1.6 1.2 4.3e3.3 2.9 5.9 57.5 15.1eBG1.0 21.1 0.8 3.5 10.8 1.9 92.8 -5.6 -3.0 11.7 3.0 -0.5 0.6 16.0e56.2 -2.7 1.6 25.2 7.9eCZ2.3 25.4 2.0 0.9 19.0 3.9 76.7 -3.9 -10.1 -0.8 -1.6 5.1 1.7 na-1.1 0.9 3.8 30.2 10.0eDK1.6 19.2 2.9 8.7 11.4 2.0 49.8 0.0 -1.4 -11.0 3.7 -0.5 0.7 5.1e5.2 4.9 3.9 131.5 18.4eDE2.2 20.0 2.9 7.3 31.7 0.5 41.3 -2.8 0.0 -4.3 -2.6 1.2 1.3 3.9e-4.5 10.0 5.9 54.2 19.2eEE3.0 25.7 1.4 1.8 12.8 6.6 103.8 -2.1 3.1 27.5 0.4 -1.0 2.2 3.2e41.1 35.0 3.8 38.9 6.6eIE8.7 20.6 1.5 -2.4 -351.9 38.4 388.2 -2.7 -1.8 -9.7 -5.3 11.0 5.9 21.6e-13.2 2.1 1.8 81.0 9.1eEL0.5 10.8 0.8 0.7 -129.7 1.1 11.9 -3.4 -5.6 -14.7 3.7 4.6 -3.0 39.7e0.4 -27.1e1.1 64.4 12.8eES1.4 17.8 1.2 2.1 -70.1 2.3 60.0 -2.9 -0.6 -6.4 -6.7 0.9 0.3 8.1e-3.7 -22.3 4.2 73.4 14.0eFR1.0 21.8 2.2 -1.0 -31.0 0.2 42.1 -2.5 -0.7 -9.6 -1.7 -0.3 0.4 4.2e2.2 -3.9 6.0 55.6 18.9eHR-0.3 19.0 0.8 0.7 -46.3 5.2 56.3 -4.0 -1.4 -14.7 0.7 3.8 -2.9p13.6e-5.9 -6.9 na40.1 7.2eIT0.0 16.7 1.3e2.1 -21.0 0.8 25.0 -2.6 0.4 -10.6 -3.8 -1.0 -0.1 16.5e3.9 -13.1 4.3 42.6 14.0eCY-1.8 13.3 0.5 -3.3 -197.6 222.8 1941.5 -5.9 -0.1 -15.5 -0.8 2.6 0.2 38.6e-1.5 -8.7 3.9 131.4 10.3eLV1.9 22.8 0.7 1.4 -17.2 3.3 56.6 -4.7 -1.3 18.2 0.1 2.6 3.3 9.7e56.8 16.6 2.5 26.4 10.2eLT3.5 18.9 1.0 6.2 -16.9 0.8 41.4 -4.7 -0.1 26.8 -0.5 -5.4 1.5 6.8e11.4 7.5 2.5 21.5 9.7eLU2.6 19.2 1.3 3.9 -3277.8 274.7 7568.0 -4.2 0.8 15.5 2.3 2.9 0.1 1.4e15.8 14.2 3.6 58.5 13.4eHU4.2 22.0 1.4 4.8 -29.5 9.5 216.4 -6.1 -7.0 -12.0 -1.2 5.6 -0.3 19.4e9.1 -2.2 1.9 25.6 10.9eMT7.6 16.7 0.7 7.3 205.7 2.7 1789.7 -14.4 0.7 -7.4 1.2 -0.1 1.5 6.0e3.6 5.2 2.5 54.8 11.9eNL1.4 17.6 2.2 8.4 -45.8 13.0 558.1 -1.6 1.3 -6.2 -3.0 0.9 1.5 3.4e-0.1 -11.6 3.1 113.2 18.5eAT0.7 22.7 3.1e2.4 -11.3 0.4 77.8 -3.0 1.6 -10.9 -2.7 -0.7 -0.3 7.5e5.4 16.8 4.3 51.0 14.2ePL3.4 19.8 0.9 -0.1 -26.4 3.6 51.7 -2.6 -1.5 9.6 -1.4 3.1 1.6 7.2e2.4 -6.8 3.1 35.8 9.3ePT0.8 15.0 1.3 1.5 -77.7 5.3 81.5 -3.6 -1.2 -1.9 0.1 0.7 -0.6 16.6e-10.1 -4.9 2.5 81.9 13.7eRO3.6 24.4 0.4 2.4 -14.5 1.9 44.9 -1.4 -1.3 28.1 3.7 4.9 2.8 20.7e48.0 -7.3 2.4 18.0 10.5eSI2.8 19.1 2.4 5.3 -28.5 2.0 31.5 -4.1 0.4 -8.0 -4.6 2.4 2.3 22.8e2.9 -17.6 2.2 28.3 9.3eSK2.7 20.5 0.9 2.1 -13.0 -0.4 62.1 -4.0 0.5 7.8 -3.7 0.1 1.3 5.2e1.8 -0.4 2.7 32.5 8.4eFI-0.4 21.5 3.2 -1.2 0.1 6.4 52.0 -2.4 2.0 -23.1 -3.2 -5.6 0.1 1.6e9.2 3.2 6.0 62.5 24.3eSE2.7 23.2 3.1e4.1 -22.8 -1.7 83.4 -1.3 -3.8 -4.7 -0.8 0.8 1.2 1.3e5.4 16.5 4.2 82.1 20.6e1) House price index e = estimate by NCB for EL. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworldvolume exports of goods and services)Flags:e:Estimated. p:Provisional.  
 
 
 
 
 
 
 
 
Table 2.7 (continued): Auxiliary indicators, 2014 

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 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 BG0.4 69.0 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 76.6 1.7 14.2 6.4 -0.8 17.9 0.3b12.1 0.0 3.2 0.9 12.2 1.7 DE0.9 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 -3.8 28.3 -2.6 16.8 1.6 9.2 1.4 21.0 -5.9 EL3.6 67.4 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 HR2.6p66.1 10.1 45.5 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-2.0 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 LU2.5 70.8 1.6 22.6 6.3 1.6 19.0 2.2 16.4 2.8 1.4 0.2 6.1 0.3 HU4.6 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 MT6.1 67.8 2.9 11.7 10.3 0.1 23.9 1.8 15.8 0.2 10.3 3.7 9.9 1.0 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 34.8 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-0.4 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 People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-59Flags:b:Break in series. p:Provisional. Year2014Employment(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 15-241) Young people neither in employment nor in education and training, b = change in the classification of non-formal education activities for ES; b = data are impacted from the changes in the questionnaire introduced in 2013 and inclusion of French overseas departments (DROM) for FR.Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 2.8: Auxiliary indicators, 2013 

39 

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)BE0.5 22.2 2.3 0.9 58.5 -5.6 231.9 -4.5 0.6 -7.6 0.2 -3.2 0.8 na2.9 7.6 5.7 55.7 15.7eBG-0.6 21.2 0.6 2.4 7.3 3.6 89.2 -6.2 -0.4 6.0 4.2 6.0 -0.1 na53.2 -9.3 1.7 25.6 7.8eCZ0.0 25.4 1.9 1.5 14.8 3.5 76.6 -4.7 -2.4 -4.3 -1.0 -3.3 -0.4 na1.1 -1.4 3.8 31.4 10.8eDK0.9 19.1 3.0 7.7 -3.6 0.2 41.8 0.3 -1.3 -12.8 2.4 -2.0 0.9 na4.5 -0.6 3.7 133.3 18.4eDE0.4 19.9 2.8 6.5 29.5 1.8 41.3 -3.4 -0.7 -7.7 0.4 -2.6 -0.3 na-7.3 10.4 5.9 55.7 20.3eEE1.5 27.9 1.7 2.9 7.4 4.4 98.9 -2.2 5.3 16.7 -0.7 -0.8 0.2 na42.3 28.8 3.4 40.1 6.8eIE1.3 18.6 1.6e1.0 -310.7 29.6 348.3 -3.2 -3.1 -5.1 -4.8 -0.6 -1.6 na-7.1 -27.3 1.6 93.3 15.0eEL-2.5 11.2 0.8 0.3 -130.3 1.2 12.1 -3.7 -3.5 -22.2 1.2 -1.8 -1.9 na3.6 -25.5e2.3 66.4 14.0eES-1.4 17.4 1.3 2.6 -69.7 3.5 57.7 -3.4 0.4 -4.8 -1.6 0.8 1.0 na-0.4 -28.5 3.9 77.8 14.9eFR0.6 22.0 2.2 -0.5 -26.9 1.1 41.3 -3.1 -1.4 -9.0 -0.4 -1.5 0.4 na2.1 3.2 6.1 55.6 18.1eHR-0.4 19.4 0.8 -0.9 -50.2 1.7 50.6 -5.0 -2.9 -18.6 1.4 -1.1 2.5pna-2.5 -5.3 na40.2 7.5eIT-1.8 17.2 1.3 1.1 -23.8 0.9 23.7 -3.3 1.0 -15.6 -0.8 -3.2 -0.1 na6.6 -7.6 4.7 43.3 15.0eCY-6.6 14.1 0.5 -1.0 -141.5 108.8 1650.4 -6.4 1.0 -6.7 -0.6 -2.4 -1.0 na3.0 -8.5 4.1 129.6 16.2eLV2.0 24.3 0.6 -0.3 -22.3 3.3 54.0 -5.6 0.2 12.4 1.2 -2.9 -0.3 na57.4 21.5 2.2 29.2 9.9eLT3.6 18.4 1.0 4.9 -18.6 1.7 42.9 -6.1 1.4 17.9 -5.2 3.7 2.2 na12.6 7.7 2.2 22.3 9.6eLU3.2 18.5 1.3 4.4 -2546.8 974.2 6123.9 -5.1 1.7 13.8 3.0 2.7 1.3 na16.9 13.4 3.4 57.0 13.9eHU1.8 20.8 1.4 7.2 -35.1 -2.6 211.0 -6.3 -3.0 -18.1 -1.1 0.5 0.5 na14.5 -9.4 1.8 28.2 10.7eMT5.5 16.5 0.7 1.8 216.5 5.4 1898.1 -8.7 0.1 5.5 0.3 -2.7 0.9 na6.0 1.2 2.6 57.1 6.6eNL-0.1 18.4 2.2b9.9 -66.9 37.5 534.5 -1.4 1.3 -5.9 -2.0 -1.1 1.1 na0.0 -14.0 3.0 115.1 20.8eAT0.0 23.0 3.0 1.8 -11.7 0.1 75.2 -3.5 1.6 -13.4 -1.9 -3.0 -0.3 na3.3 19.9 4.3 51.2 13.4ePL1.1 18.9 0.9 0.5 -27.2 0.2 50.4 -2.7 -3.3 4.7 -0.1 1.9 1.2 na0.5 -7.6 3.0 35.3 9.0ePT-0.9 14.8 1.3 3.3 -78.1 6.9 77.4 -3.7 0.1 -2.5 3.9 3.6 2.0 na-8.8 -13.3 2.5 86.1 14.8eRO3.8 24.7 0.4 1.2 -20.4 2.0 45.1 -1.9 0.7 21.1 2.7 17.0 4.7 na45.9 -17.0 2.4 19.2 9.7eSI-1.0 19.6 2.6 3.7 -32.8 0.2 28.9 -5.5 0.0 -13.3 -2.3 -0.5 0.1 na7.9 -9.4 2.4 29.6 11.3eSK0.7 20.5 0.8 3.3 -10.5 1.0 64.7 -6.0 2.5 1.8 -4.8 2.4 1.4 na3.9 -3.3 3.2 29.7 8.2eFI-0.9 22.0 3.3 -1.7 -4.6 -1.9 46.6 -2.6 1.9 -28.3 -2.7 -3.0 -0.1 na8.4 6.9 6.4 61.5 21.7eSE1.2 22.4 3.3e5.0 -25.6 0.2 89.5 -1.5 5.9 -11.6 0.2 -4.7 0.2 na3.6 9.2 3.6 81.2 21.3eFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index e = estimate by NCB for EL. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworldvolume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.8 (continued): Auxiliary indicators, 2013 

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 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-0.4 68.4 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 19.0 9.1b0.3b14.6 0.2 8.6 -0.4 6.6 0.4 6.9 0.5 DK0.0 76.6 1.8 14.8 6.6 -0.3 18.3 0.0 11.9 -1.4 3.6 0.9 11.9 1.3 DE0.8 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 IE2.9 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-0.6 67.5 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-2.4 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 70.9e4.5e24.9e11.2b-1.5b18.1 -1.1 13.7 0.4 4.9 -0.9 8.1 -1.8 HR-2.8p63.7 11.0 50.0 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-5.6 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 LT1.4 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 15.5 5.0 -0.1 19.0 1.9 15.9 1.4 1.8 1.3 6.6 1.1 HU1.3 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 MT4.5 66.3 3.5 12.7 9.9 0.4 24.6 3.4 15.8 0.3 10.2 3.7 9.1 -0.1 NL-1.2 79.4 2.5 13.2 5.6b0.8b15.9 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-0.8 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 23.5 7.5 -0.2 18.3 0.6 16.0 1.2 1.9 0.0 9.4 0.9 Year2013Employment(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 populationFlags:b:Break in series. e:Estimated. p:Provisional. People living in households with very low work intensity -% of total population aged 0-59People at risk of poverty after social transfers -% of total populationSeverely materially deprived people -% of total population1) Young people neither in employment nor in education and training, b = changes in the implementation of variables on education used for the derivation of the indicator for PL.Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 2.9: Auxiliary indicators, 2012 

41 

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)BE0.7 23.0 2.3 0.6 58.6 2.4 244.0 -5.0 1.9 -8.7 -2.8 -3.7 0.3 na1.1 9.7 5.9 55.1 17.4eBG0.8 21.1 0.6 0.4 4.2 3.3 89.5 -6.8 1.9 7.0 5.9 -1.2 3.3 na42.1 -16.7e1.7 25.5 7.6eCZ-0.8 26.2 1.8 -0.3 9.3 4.5 74.2 -4.6 5.6 3.3 -3.3 1.1 -1.2 na3.5 -3.1 4.1 30.7 10.4eDK0.2 18.8 3.0 6.3 -2.7 -4.9 43.6 0.8 0.7 -11.0 3.1 -2.0 0.9 na5.4 -1.7 4.1 136.3 20.3eDE0.4 20.3 2.9 7.1 22.1 1.8 40.0 -3.6 -1.3 -10.0 -2.3 -0.3 -0.7 na-9.7 8.2 5.9 56.6 23.5eEE3.2 28.7 2.1 1.5 3.3 7.8 94.3 -1.3 5.2 15.6 -1.5 1.6 1.6 na42.0 23.0 2.9 42.0 7.1eIE-0.1 19.6 1.6e-3.3 -256.2 25.8 337.1 -3.0 -5.1 -11.7 -3.6 -4.0 0.5 na-4.0 -37.9 1.5 98.3 15.8eEL-7.1 11.5 0.7 -2.3 -124.1 0.7 11.7 -4.1 2.0 -20.3 -1.6 -1.2 -3.2 na12.4 -20.4e3.3 66.3 26.6eES-3.0 18.5 1.3 0.6 -73.7 1.6 55.4 -3.8 0.8 -10.8 -4.6 -2.3 1.1 na1.5 -22.7 4.6 81.6 17.9eFR0.3 22.5 2.2 -1.1 -27.0 1.2 40.5 -3.3 -0.5 -11.7 -2.1 -0.4 0.0 na1.7 10.0 6.2 55.1 20.1eHR-2.3 19.4 0.8 -1.8 -50.1 2.3 51.8 -5.5 -2.6 -19.7 2.9 -4.7 1.4pna4.0 -7.6 na41.1 naIT-3.0 18.3 1.3 -0.1 -24.6 0.0 23.0 -3.8 1.4 -19.7 -4.8 -1.2 -2.7 na10.4 -0.5e4.9 43.7 14.4eCY-3.4 15.5 0.4 -3.7 -104.1 276.8 1436.8 -7.6 2.0 -12.4 -2.1 -3.7 0.1 na14.1 -10.1 4.9 127.9 26.0eLV7.0 26.0 0.7 -0.8 -26.0 3.8 49.4 -6.1 -0.7 17.1 -1.1 6.3 5.5 na54.7 1.2 2.4 32.7 10.2eLT3.8 17.3 0.9 1.4 -22.9 1.6 42.2 -7.5 1.7 34.1 -1.5 7.6 1.9 na9.3 -1.5 1.9 23.6 10.2eLU1.6 19.2 1.3b4.8 -2328.9 980.0 5978.7 -6.0 2.8 1.5 5.7 -1.6 -0.8 na17.2 13.9 2.9 57.9 15.1eHU-1.3 19.1 1.3 4.1 -41.8 8.2 225.6 -6.3 4.6 -16.9 -2.4 -4.9 -2.2 na23.6 -9.2 2.0 31.7 11.5eMT4.1 17.6 0.8 1.5 260.8 35.2 1996.3 -11.9 1.1 21.3 -0.2 2.3 1.3 na6.9 2.7 2.8 58.9 5.0eNL-1.0 18.8 1.9b8.9 -69.6 29.4 503.2 -2.6 -0.4 -5.7 -2.6 0.1 -0.8 na1.2 -10.1 3.5 117.9 22.3eAT0.7 22.6 2.9e1.3 -16.0 1.3 74.7 -3.9 1.3 -15.4 -3.2 -1.8 -0.4 na1.3 21.1e4.3 52.0 13.5ePL1.3 19.9 0.9 -1.8 -26.5 1.5 47.9 -3.4 7.3 9.0 -2.6 1.1 1.2 na-3.4 -7.0e3.2 34.2 9.1ePT-4.1 15.8 1.4 0.5 -82.1 9.9 70.8 -4.7 0.9 -10.6 -0.2 -0.1 0.0 na-8.5 -11.0 3.0 90.5 15.5eRO2.0 27.5 0.5 -3.5 -25.1 1.8 43.5 -3.1 3.2 21.4 4.6 -2.1 0.6 na79.1 -23.0 3.1 20.7 9.7eSI-2.6 19.0 2.6 1.4 -37.6 0.1 29.6 -6.7 0.2 -14.4 -4.3 -2.7 -1.7 na11.4 -4.2 2.5 30.7 12.9eSK1.4 20.4 0.8 2.9 -8.6 1.8 64.1 -5.7 1.9 -3.0 -6.0 5.9 1.3 na5.5 -8.0 2.9 28.2 8.5eFI-1.4 23.1 3.4 -2.0 -2.2 1.9 51.7 -2.6 1.6 -26.9 -5.3 -3.0 -2.2 na6.2 12.3 6.7 61.0 26.3eSE-0.6 22.7 3.2e5.3 -20.5 0.8 90.1 -1.7 19.3 -13.0 -0.3 -2.1 -1.3 na1.7 12.0 3.5 79.3 22.1eFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index e = Eurostat estimate for PL; e = NSI estimates for BG; e = estimate by NCB for EL, IT and AT. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworldvolume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.9 (continued): Auxiliary indicators, 2012 

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 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-2.5 67.1 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 77.2 2.1 15.8 7.3 0.8 17.5 -0.1 12.0 -1.1 2.7 0.4 10.2 1.4 DE1.1 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 30.1 4.4 16.3 1.3 9.9 3.8 23.4 3.4 EL-4.0 67.5 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 70.4e4.2e24.4e12.5 -0.2 19.1 0.6 14.1 1.2 5.3 -0.3 8.4 0.0 HR-3.6p63.9 10.2 42.1 16.6 3.2 32.6 na20.4 na15.9 na16.8 naIT-0.3 63.5 5.6 35.3 21.0 3.4 29.9 5.0 19.5 1.1 14.5 7.2 10.6 1.4 CY-3.5 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 LT1.9 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 18.8 5.9 0.1b18.4 0.6 15.1 0.2 1.3 0.2 6.1 -0.2 HU0.9 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 MT2.8 63.9 3.8 13.8 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 -0.1 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 37.9 13.9 2.7 25.3 0.4 17.9 0.0 8.6 -0.5 10.1 3.1 RO1.4 64.8 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 23.6 7.8 -1.8 17.7 -0.1 15.2 0.8 1.8 -0.2 8.1 -0.4 Flags:b:Break in series. e:Estimated. p:Provisional. Year2012Employment(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 0-59Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
Table 2.10: Auxiliary indicators, 2011 

43 

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)BE1.7 23.0 2.2 -2.0 63.9 31.5 242.2 -4.7 1.3 -0.6 -2.7 -2.3 0.4 na0.7 6.8 5.8 54.8 21.7eBG2.1 20.8 0.5 1.5 -1.9 3.7 87.4 -6.2 3.9 19.8 11.5 5.7 4.4 na34.9 -32.4e2.2 26.5 7.4eCZ1.8 26.8 1.5 -1.8 7.7 1.9 69.1 -4.3 0.8 15.8 -1.7 2.3 2.0 na7.5 -5.5 4.2 29.8 11.8eDK1.3 18.2 2.9 6.9 -12.0 3.8 43.9 0.7 1.5 -7.1 2.0 0.3 1.4 na8.1 -11.0 4.3 138.4 21.1eDE3.9 20.4 2.8 6.2 15.5 2.6 35.9 -3.6 -1.0 -2.3 -1.7 1.4 2.7 na-12.8 5.5 5.6 57.1 25.7eEE7.3 26.5 2.3 5.4 -1.7 4.9 89.9 -0.4 2.8 34.1 1.0 17.3 0.7 na41.7 -28.0 2.7 45.6 8.1eIE1.1 16.7 1.6e-1.5 -238.1 15.2 312.8 -3.3 -6.5 -3.3 -1.3 -3.8 3.3 na-4.0 -42.0 2.0 104.2 17.7eEL-10.1 13.7 0.7 -7.5 -99.2 0.4 12.4 -3.6 4.5 -10.7 0.6 -6.3 -6.1 na23.2 -13.2e4.9 65.5 naES-0.8 20.0 1.3 -2.8 -76.9 1.9 55.3 -3.8 0.4 -1.2 -2.7 1.3 1.8 na6.9 -15.3 5.4 82.5 17.4eFR2.2 22.4 2.2 -0.9 -23.1 1.5 40.2 -3.0 -0.4 -8.9 -0.7 -0.5 1.4 na2.0 3.9 6.4 54.8 21.1eHR-0.1 20.0 0.8 -1.7 -52.4 2.0 50.4 -5.3 -2.2 -9.1 4.8 -4.6 4.0pna10.8 -10.9 na41.3 naIT0.7 19.7 1.2 -2.8 -22.3 1.5 21.4 -3.6 0.9 -12.9 -2.3 -1.5 0.4 na12.6 1.6e5.2 43.5 14.9eCY0.4 19.0 0.5 -1.9 -100.8 146.0 1156.6 -6.7 0.7 -2.0 -1.7 0.1 0.1 na14.0 -13.3 6.2 121.9 19.9eLV2.6 23.0 0.7 -1.2 -34.0 5.5 51.3 -5.6 0.3 37.3 6.5 5.7 1.0 na46.9 -38.4 2.0 40.0 10.7eLT6.0 18.5 0.9 -0.3 -21.4 4.3 42.5 -7.6 4.8 32.6 0.2 7.6 5.5 na9.8 -30.8 2.0 25.8 11.3eLU1.0 19.2 1.5 5.6 -1891.9 683.1 4665.6 -5.7 2.0 6.8 4.2 -2.5 -1.9 na15.3 8.0 2.8 56.2 17.7eHU1.9 19.5 1.2 2.9 -47.2 10.0 234.5 -6.0 -2.5 3.1 -1.1 -0.5 1.9 na25.0 -10.7 2.2 37.4 13.5eMT0.5 18.2 0.7 -0.8 215.4 81.0 1999.1 -2.8 1.9 26.8 0.6 -1.6 -2.4 na5.3 -4.6 3.7 59.3 5.1eNL1.6 20.1 1.9b8.7 -74.1 37.1 472.5 -1.9 0.0 -1.2 -2.9 -1.7 0.7 na3.4 -8.0 4.2 118.0 24.2eAT2.9 22.5 2.7 1.5 -14.2 5.4 72.8 -3.7 1.2 -5.7 -3.1 -1.0 1.3 na-1.2 17.3e4.4 53.2 14.7ePL4.8 20.7 0.8 -3.4 -25.6 3.4 47.3 -3.3 -9.5 23.8 0.3 0.8 4.2 na-7.7 -6.4e3.0 35.2 9.9ePT-1.7 18.4 1.5 -4.5 -71.6 4.0 58.1 -4.2 -0.5 -2.9 -0.4 0.0 0.3 na-3.6 -5.1 3.3 90.5 19.6eRO1.9 27.2 0.5b-4.5 -25.1 1.3 41.8 -2.7 -1.6 61.1 17.6 5.2 4.3 na72.0 -38.2e2.7 21.8 10.0eSI0.9 19.9 2.4b-1.1 -35.4 1.7 28.5 -6.2 0.4 1.7 -2.4 0.0 2.6 na17.9 -6.9 2.8 29.9 13.3eSK2.6 23.3 0.7 -3.7 -12.4 5.5 65.0 -6.8 4.9 4.8 -5.9 3.7 0.8 na9.6 -17.5 2.8 26.1 9.4eFI2.5 22.6 3.6 -1.3 2.9 -2.2 50.4 -3.7 2.2 -17.6 -4.3 -4.9 0.9 na2.3 11.3 6.6 59.0 26.1eSE3.2 22.9 3.2 5.2 -18.6 1.1 90.0 -1.8 7.4 -5.4 1.1 -0.2 0.9 na-1.5 14.1 4.0 76.5 24.1e1) House price index e = Eurostat estimate for PL; e = NSI estimates for BG and RO; e = estimate by NCB for EL, IT, and AT.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata,WEO(forworldvolume exports of goods and services)Flags:b:Break in series. e:Estimated. p:Provisional.  
 
 
 
 
 
 
 
 
Table 2.10 (continued): Auxiliary indicators, 2011 

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 ppBE1.3 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 65.9b6.3b25.0b21.8 4.4b49.1 4.3b22.2 0.8 43.6 2.4 11.0 2.9bCZ-0.3 70.5b2.7b18.1b8.3b1.6b15.3 0.0 9.8 0.8 6.1 -0.7 6.6 -0.6 DK0.0 77.8 1.8 16.4 7.2 2.0b17.6b1.3b12.1 0.3 2.3 0.3 10.5 2.0 DE1.2 77.3b2.8b8.5b7.5b-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-2.2 71.2 8.8 29.6 19.1 5.2 30.9 7.2 15.2 -0.3 7.8 2.3 26.9 13.2 EL-4.3 67.3 8.8 44.7 17.4 6.0b31.0 2.9 21.4 1.3 15.2 4.0 12.0 4.5 ES-2.5 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 69.9e3.9e22.7e12.3 1.8 19.3 0.8b14.0 1.5 5.2 -0.2 9.4 0.6 HR-4.0p64.1 8.4 36.7 16.2 4.6 32.6 na20.9 na15.2 na15.9 naIT0.3 62.1 4.3 29.2 19.7 3.1 28.1 2.6 19.8 0.9 11.1 3.6 10.5 0.1 CY0.3 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 LT0.6 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 16.8 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 3.9 13.3 10.2 1.9 22.1 2.0 15.6 0.3 6.6 2.3 8.9 0.3 NL0.9 78.1 1.6 10.0 4.3 0.4 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 -4.7b6.9 -1.1 PT-1.9 73.6b6.2b30.3b12.6b2.4b24.4 -1.6 18.0 -0.5 8.3 -1.4 8.3 2.0 RO-2.3 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 68.7b9.2b33.4b13.8b2.7b20.6 0.0 13.0 2.1 10.6 -1.2 7.7 2.5 FI1.6 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 SE2.3 79.9 1.5 22.8 7.5 -0.3b18.5 1.8b15.4 1.9b1.7 -0.1b9.4 2.4bYoung 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 0-59Source: European Commission, EurostatFlags:b:Break in series. e:Estimated. p:Provisional. Year2011Employment(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(%) 
 
 
 
 
 
 
 
 
Chapter 3: Tables by indicator 
Table 3.1: Current account balance, % of GDP (3 year average) 

45 

2011201220132014201520162017201820192020BE0.4 -0.1 -0.4 0.5 1.0 0.9 0.9 0.1 0.0 0.1 BG-3.2 -0.7 0.3 0.6 0.8 1.4 2.1 2.4 2.0 0.8 CZ-2.6 -2.4 -1.4 -0.6 0.0 0.8 1.3 1.3 0.8 1.5 DK5.5 6.5 6.9 7.7 8.3 8.3 8.0 7.7 8.0 8.1 DE5.9 6.4 6.6 7.0 7.5 8.1 8.3 8.1 7.7 7.4 EE1.9 0.4 -0.1 -0.3 0.9 1.2 1.8 1.4 1.9 1.0 IE-2.5 -2.1 -1.2 -0.3 2.3 0.4 0.2 0.5 -4.7 -5.8 EL-10.4 -7.5 -4.6 -1.9 -1.0 -1.1 -1.5 -2.2 -2.1 -3.7 ES-3.5 -2.1 -0.2 1.3 1.9 2.3 2.7 2.6 2.3 1.6 FR-0.7 -0.8 -0.8 -0.8 -0.6 -0.6 -0.5 -0.7 -0.6 -1.0 HR-3.6 -2.0 -1.6 -0.9 0.8 1.9 3.0 2.5 2.8 1.6 IT-2.7 -2.1 -0.6 0.9 1.5 2.0 2.2 2.6 2.8 3.2 CY-6.6 -5.6 -2.6 -3.1 -2.0 -2.9 -3.2 -4.4 -4.9 -6.6 LV2.0 -1.8 -3.3 -2.7 -1.7 -0.2 0.7 0.9 0.1 0.7 LT-0.5 -1.7 -1.2 1.2 0.9 0.0 -1.0 -0.1 1.4 3.7 LU5.7 5.6 5.3 5.1 4.9 4.8 4.8 4.7 4.7 4.5 HU0.1 0.8 1.9 2.1 2.3 2.7 2.9 2.2 0.5 -0.7 MT-5.5 -2.8 -0.8 1.8 2.8 2.6 2.7 3.9 5.9 3.0 NL7.0 8.6 9.5 9.5 8.2 7.6 8.4 9.9 10.3 9.1 AT2.4 2.0 1.7 2.0 2.0 2.3 1.9 1.7 1.5 1.6 PL-5.0 -5.0 -3.7 -2.8 -1.8 -1.4 -0.7 -0.8 -0.4 0.7 PT-8.8 -5.9 -2.0 0.1 0.7 0.5 0.9 1.0 0.8 0.0 RO-5.0 -5.1 -3.7 -2.1 -0.7 -0.9 -1.8 -3.1 -4.2 -4.9 SI-0.9 -0.1 1.3 3.2 4.1 4.6 4.9 5.6 6.1 6.4 SK-4.3 -2.9 -0.7 1.3 0.3 -1.2 -2.2 -2.3 -2.5 -1.8 FI0.7 -0.7 -1.8 -1.7 -1.4 -1.4 -1.2 -1.5 -1.0 -0.4 SE5.8 5.6 5.4 5.0 4.3 3.3 2.9 2.7 3.7 4.6 TheCurrentaccountprovidesinformationaboutthetransactionsofacountrywiththerestoftheworld.Itcoversalltransactions(otherthanthoseinfinancialitems)ingoods,services,primaryincomeandsecondaryincome,whichoccurbetweenresidentandnon-residentunits.TheMIPscoreboardindicatoristhethree-yearbackwardmovingaverageofthecurrentaccountbalanceexpressedinpercentageofGDP.TheindicatorisbasedonBalanceof Payments (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).Source: European Commission, Eurostat 
 
 
 
 
 
 
 
Table 3.2: Current account balance (% of GDP)  

46 

2011201220132014201520162017201820192020BE-1.9 -0.1 1.0 0.8 1.4 0.6 0.7 -0.8 0.2 0.8 BG0.3 -0.8 1.3 1.2 0.0 3.1 3.3 0.9 1.9 -0.3 CZ-2.1 -1.5 -0.5 0.2 0.4 1.8 1.5 0.4 0.3 3.6 DK6.6 6.3 7.8 8.9 8.2 7.8 8.0 7.3 8.8 8.1 DE6.2 7.1 6.6 7.2 8.6 8.5 7.8 7.8 7.4 6.9 EE1.3 -1.9 0.3 0.7 1.8 1.2 2.3 0.8 2.5 -0.3 IE-1.6 -3.4 1.6 1.1 4.4 -4.2 0.5 5.2 -19.9 -2.7 EL-8.8 -3.5 -1.4 -0.7 -0.8 -1.7 -1.9 -2.9 -1.5 -6.6 ES-2.7 0.1 2.0 1.7 2.0 3.2 2.8 1.9 2.1 0.8 FR-0.9 -1.0 -0.5 -1.0 -0.4 -0.5 -0.8 -0.8 -0.3 -1.9 HR-1.8 -1.9 -1.1 0.3 3.3 2.2 3.5 1.8 3.0 -0.1 IT-2.8 -0.2 1.1 1.9 1.4 2.6 2.6 2.5 3.2 3.8 CY-2.3 -3.9 -1.5 -4.1 -0.4 -4.2 -5.1 -4.0 -5.7 -10.1 LV-3.4 -3.7 -2.8 -1.6 -0.6 1.6 1.3 -0.2 -0.7 2.9 LT-3.7 -1.6 1.7 3.5 -2.4 -1.1 0.5 0.3 3.5 7.3 LU5.6 5.3 5.1 4.9 4.8 4.8 4.7 4.7 4.6 4.3 HU0.6 1.6 3.4 1.2 2.3 4.5 2.0 0.2 -0.7 -1.5 MT-2.0 -0.4 0.1 5.6 2.7 -0.6 5.8 6.4 5.4 -2.9 NL8.6 10.2 9.8 8.5 6.3 8.1 10.8 10.8 9.4 7.0 AT1.6 1.5 1.9 2.5 1.7 2.7 1.4 0.9 2.1 1.9 PL-5.4 -4.0 -1.8 -2.6 -0.9 -0.8 -0.3 -1.3 0.5 2.9 PT-6.0 -1.6 1.6 0.2 0.2 1.2 1.3 0.6 0.4 -1.1 RO-5.1 -5.0 -0.9 -0.3 -0.8 -1.6 -3.1 -4.6 -4.9 -5.0 SI-0.8 1.3 3.3 5.1 3.8 4.8 6.2 6.0 6.0 7.4 SK-4.9 0.9 1.9 1.1 -2.1 -2.7 -1.9 -2.2 -3.4 0.1 FI-1.4 -2.1 -1.8 -1.3 -0.9 -2.0 -0.8 -1.8 -0.3 0.8 SE5.5 5.5 5.2 4.2 3.3 2.4 3.0 2.6 5.5 5.7 TheCurrentaccountprovidesinformationaboutthetransactionsofacountrywiththerestoftheworld.Itcoversalltransactions(otherthanthoseinfinancialitems)ingoods,services,primaryincomeandsecondaryincome,whichoccurbetweenresidentandnon-residentunits.TheindicatorisexpressedinpercentageofGDPandbasedonBalanceofPayments(BoP)data.StartingfromOctober2014definitionsarebasedontheSixthEditionoftheIMF's Balance of Payments and International Investment Position Manual (BPM6).Source: European Commission, Eurostat 
 
 
 
Table 3.3: Net International Investment Position (% of GDP)   

47 

2011201220132014201520162017201820192020BE51.4 40.8 43.2 44.8 45.2 54.5 56.0 34.3 41.1 44.4 BG-82.4 -77.3 -73.3 -71.9 -61.5 -47.5 -43.0 -37.0 -30.2 -26.3 CZ-44.9 -45.6 -40.9 -36.3 -32.9 -27.2 -24.9 -24.4 -19.8 -12.5 DK27.8 36.1 37.2 43.3 30.8 52.6 55.4 64.0 77.5 68.8 DE23.3 28.7 24.7 29.0 34.6 39.2 42.0 52.6 58.8 61.7 EE-54.4 -51.1 -50.0 -47.0 -40.2 -39.5 -33.0 -30.0 -22.8 -21.5 IE-138.6 -137.4 -133.6 -164.6 -198.4 -172.7 -167.3 -183.6 -193.5 -174.0 EL-90.4 -117.6 -131.0 -133.0 -136.1 -139.1 -143.4 -148.6 -154.2 -175.0 ES-93.8 -88.9 -92.8 -95.9 -88.9 -85.5 -85.5 -80.1 -75.0 -85.5 FR-8.7 -12.8 -16.6 -15.6 -12.9 -13.0 -20.1 -19.3 -25.3 -30.2 HR-91.9 -90.5 -88.6 -86.8 -79.0 -72.4 -64.2 -55.7 -46.7 -47.8 IT-18.2 -23.0 -23.4 -20.9 -18.8 -11.7 -7.0 -4.3 -1.0 2.4 CY-141.9 -141.1 -162.5 -163.6 -154.0 -133.8 -136.1 -125.6 -116.1 -136.7 LV-78.0 -68.4 -67.9 -64.1 -60.1 -54.2 -51.4 -45.2 -40.1 -34.7 LT-53.6 -54.4 -50.8 -46.8 -43.8 -42.8 -36.5 -30.5 -24.0 -15.8 LU28.5 63.2 61.5 67.3 63.3 55.5 80.6 33.0 58.2 39.9 HU-103.6 -91.6 -82.0 -80.1 -67.5 -59.0 -54.4 -50.7 -48.7 -48.1 MT6.2 19.1 25.9 41.8 36.1 47.7 56.5 55.4 53.2 60.3 NL20.1 26.7 30.7 48.0 49.6 62.3 61.1 72.8 89.9 113.9 AT-1.9 -3.2 1.3 3.4 2.2 4.1 4.3 6.0 13.5 9.3 PL-62.5 -65.6 -69.4 -69.4 -62.1 -61.5 -61.2 -55.9 -49.8 -44.5 PT-104.1 -119.3 -120.2 -123.8 -118.9 -110.5 -110.4 -106.4 -100.0 -106.4 RO-66.1 -67.8 -63.3 -57.0 -54.7 -49.2 -47.4 -43.8 -43.6 -48.3 SI-39.8 -44.0 -39.3 -38.4 -31.2 -28.8 -24.2 -18.9 -15.9 -15.2 SK-63.7 -60.7 -62.3 -63.6 -63.8 -66.8 -68.3 -69.8 -65.9 -65.7 FI13.9 10.6 3.0 -3.1 4.8 5.5 1.2 -5.6 4.0 -5.3 SE-8.3 -15.5 -17.2 -3.7 -6.6 -3.5 -1.2 8.0 17.7 16.4 Theinternationalinvestmentposition(IIP)isastatisticalstatementthatshowsatapointintimethevalueandcompositionoffinancialassetsofresidentsofaneconomythatareclaimsonnon-residentsandgoldbullionheldasreserveassets,andliabilitiesofresidentsofaneconomytonon-residents.Thedifferencebetweenaneconomy’sexternalfinancialassetsandliabilitiesistheeconomy’snetIIP(NIIP),whichmaybepositiveornegative.TheNIIPprovidesanaggregateviewofthenetfinancialposition(assetsminusliabilities)ofacountryvis-à-vistherestoftheworld.TheMIPscoreboardindicatorisexpressedinpercentageofGDPandbasedonBalanceofPayments (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) 2011-2015: LU international investment position has been revised downwards following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics.Source: European Commission, Eurostat 
 
 
 
Table 3.4: Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change) 

48 

2011201220132014201520162017201820192020BE-1.5 -4.3 -0.2 -0.6 -1.7 -0.4 0.9 7.0 2.7 2.5 BG1.9 -4.0 -0.9 -2.8 -4.3 -4.7 -3.3 4.2 4.6 7.1 CZ-0.5 0.5 -3.1 -10.0 -8.2 -3.7 5.3 11.0 8.7 5.6 DK-2.5 -7.8 -2.5 -1.2 -1.7 -1.7 -2.1 2.6 -0.2 0.9 DE-4.9 -9.0 -1.8 -0.4 -1.5 -2.1 -2.0 5.3 2.0 2.4 EE-0.8 -3.6 3.1 4.8 5.8 4.4 3.0 7.6 6.1 5.3 IE-9.6 -12.2 -3.8 -3.6 -6.4 -7.1 -6.3 2.3 -1.4 -1.2 EL1.8 -5.0 -4.4 -5.6 -5.6 -4.0 -3.0 3.8 0.5 0.4 ES-2.5 -5.3 -0.3 -1.0 -3.2 -4.3 -2.6 4.2 1.7 1.1 FR-4.4 -7.8 -2.2 -1.3 -2.9 -3.2 -3.0 4.5 1.6 2.7 HR-4.7 -8.4 -3.9 -0.8 0.1 0.0 0.1 4.2 1.5 0.5 IT-3.2 -6.2 0.1 0.2 -2.4 -3.4 -3.1 3.4 0.2 0.6 CY-3.0 -5.9 -0.8 -1.7 -6.2 -7.4 -6.4 2.0 0.0 0.1 LV-2.4 -8.6 -1.7 0.4 2.5 4.8 1.7 5.1 3.8 5.9 LT1.7 -6.7 -0.6 1.7 4.2 5.3 2.6 6.6 3.8 6.9 LU0.1 -2.4 0.8 0.5 -0.7 -1.5 -1.0 3.3 2.0 1.5 HU-4.2 -0.8 -3.8 -6.8 -7.2 -5.2 0.0 2.0 0.4 -4.9 MT-5.0 -7.6 -1.2 0.1 -2.8 -2.9 -2.5 4.5 1.8 2.1 NL-2.4 -6.0 0.5 0.7 -0.9 -2.3 -1.8 3.3 2.4 3.8 AT-1.8 -4.7 0.7 1.9 1.3 0.9 0.2 4.8 2.1 3.2 PL-11.4 1.4 -4.3 -1.0 -1.4 -5.1 -3.5 0.1 2.8 1.1 PT-3.0 -4.0 -0.6 -1.8 -3.1 -1.8 -0.8 3.3 -0.3 0.0 RO-3.2 -2.0 0.5 -1.0 2.7 -2.6 -5.6 -0.7 0.2 3.4 SI-1.1 -4.5 -0.6 1.2 0.3 -0.6 -2.0 2.0 1.0 1.9 SK3.4 -3.2 2.1 1.2 -1.2 -1.6 -2.0 2.5 2.6 5.3 FI-2.8 -8.3 0.2 2.7 2.1 0.4 -2.6 2.9 0.1 2.3 SE3.2 10.3 5.1 -3.7 -8.3 -9.2 -5.5 -4.0 -8.3 -4.8 Realeffectiveexchangerate(REER)aimstoassessacountry'spriceorcostcompetitivenessrelativetoitsprincipalcompetitorsininternationalmarkets.Changesincostandpricecompetitivenessdependnotonlyonexchangeratemovementsbutalsooncostandpricetrends.ThespecificREERfortheMacroeconomicImbalanceProcedureisdeflatedbytheconsumerpriceindicesrelativetoapanelof42countries(doubleexportweightsareusedtocalculateREERs,reflectingnotonlycompetitioninthehomemarketsofthevariouscompetitors,butalsocompetitioninexportmarketselsewhere).Apositivevaluemeansrealappreciation.TheMIPscoreboardindicator is the percentage change over three years of the real effective exchange rate based on consumer price index deflators relative to 42 trading partners.Source: European Commission, Directorate General for Economic and Financial Affairs 
 
 
 
 
Table 3.5: Real effective exchange rate - 42 trading partners, HICP deflator (1 year % change) 

49 

2011201220132014201520162017201820192020BE0.6 -2.3 1.5 0.2 -3.4 2.9 1.5 2.5 -1.2 1.3 BG1.0 -2.1 0.1 -0.8 -3.6 -0.4 0.6 4.0 0.0 2.9 CZ2.0 -2.8 -2.2 -5.2 -0.9 2.5 3.7 4.4 0.3 0.7 DK-0.6 -2.9 1.0 0.8 -3.4 1.0 0.4 1.2 -1.8 1.5 DE-0.6 -3.3 2.2 0.8 -4.4 1.6 1.0 2.7 -1.5 1.4 EE1.1 -0.9 2.9 2.8 0.1 1.5 1.5 4.5 0.0 0.7 IE-1.0 -4.4 1.6 -0.8 -7.2 0.9 0.0 1.3 -2.7 0.3 EL0.6 -4.5 -0.6 -0.6 -4.5 1.1 0.5 2.1 -2.1 0.4 ES0.3 -2.4 1.9 -0.5 -4.5 0.7 1.4 2.1 -1.7 0.7 FR-0.6 -3.2 1.6 0.3 -4.7 1.3 0.5 2.6 -1.4 1.5 HR-2.7 -2.5 1.2 0.5 -1.5 1.1 0.5 2.5 -1.5 -0.5 IT0.1 -1.9 1.9 0.3 -4.5 0.8 0.6 1.9 -2.2 0.9 CY0.2 -2.1 1.1 -0.8 -6.5 -0.2 0.4 1.8 -2.2 0.5 LV0.8 -1.5 -1.0 2.9 0.6 1.2 -0.1 3.9 0.0 2.0 LT0.6 -2.0 0.9 3.0 0.3 1.9 0.3 4.2 -0.7 3.3 LU0.8 -1.6 1.6 0.5 -2.7 0.7 1.0 1.6 -0.6 0.4 HU-0.5 -1.9 -1.4 -3.6 -2.4 0.8 1.7 -0.5 -0.8 -3.6 MT-0.7 -2.0 1.5 0.6 -4.8 1.4 1.0 2.0 -1.2 1.4 NL-0.3 -1.8 2.7 -0.1 -3.4 1.2 0.5 1.5 0.4 1.8 AT0.5 -1.8 2.1 1.7 -2.4 1.7 1.0 2.1 -1.0 2.1 PL-2.3 -2.2 0.2 1.0 -2.6 -3.5 2.7 1.0 -0.9 1.1 PT0.7 -1.6 0.3 -0.5 -2.9 1.6 0.6 1.0 -1.9 0.8 RO2.9 -6.1 4.0 1.4 -2.6 -1.3 -1.8 2.3 -0.3 1.4 SI-0.7 -1.2 1.4 1.1 -2.1 0.5 -0.3 1.8 -0.5 0.6 SK1.1 0.0 1.0 0.2 -2.4 0.5 -0.1 2.1 0.6 2.5 FI0.0 -2.6 2.9 2.5 -3.2 1.2 -0.6 2.3 -1.5 1.6 SE4.1 -0.7 1.7 -4.6 -5.5 0.8 -0.8 -4.0 -3.8 3.0 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 1-year percentage change of REER.Source: European Commission, Directorate General for Economic and Financial Affairs 
 
 
 
 
Table 3.6: Export market share - % of world exports (5 year % change) 

50 

2011201220132014201520162017201820192020BE-7.8 -15.6 -13.2 -13.5 -13.7 -5.2 1.6 -1.3 -2.5 10.9 BG11.1 -1.1 -0.4 5.4 12.9 9.2 20.1 13.1 15.3 16.0 CZ7.4 -4.6 -10.0 -6.4 -2.1 2.5 8.3 11.1 5.0 10.1 DK-13.8 -17.8 -18.0 -16.0 -8.7 -3.1 1.5 0.0 2.8 11.5 DE-9.4 -16.8 -13.2 -9.7 -3.3 1.9 5.7 3.3 -1.2 1.3 EE24.4 6.8 9.6 20.3 7.1 -0.9 1.7 -0.3 1.9 17.6 IE-10.3 -18.4 -10.8 -14.8 37.6 58.3 70.9 78.5 73.4 50.0 EL-17.2 -26.3 -26.9 -19.6 -14.1 -10.0 -0.6 6.4 3.4 -10.1 ES-8.3 -17.6 -10.5 -11.7 -3.5 2.7 9.5 4.4 2.5 -6.8 FR-15.4 -18.4 -14.5 -14.7 -3.8 1.0 2.5 0.6 -0.4 -6.9 HR-15.6 -25.8 -23.6 -19.5 -5.9 9.3 23.0 22.4 22.3 0.1 IT-19.2 -25.8 -20.6 -15.7 -9.9 -4.2 0.6 -0.2 -2.2 -2.8 CY-9.1 -19.1 -12.3 -20.3 -4.9 7.8 21.1 21.9 23.1 28.5 LV27.4 8.2 5.6 11.5 13.0 9.1 7.3 8.5 3.4 18.2 LT23.0 23.9 10.8 19.6 6.3 -1.5 3.5 3.0 16.4 39.3 LU-0.9 -6.3 6.9 9.0 17.9 25.7 23.6 14.3 10.7 20.6 HU-4.3 -23.3 -23.1 -17.0 -9.5 -2.3 10.2 8.3 5.2 8.2 MT17.6 12.1 -0.9 -12.7 8.9 17.7 24.1 19.1 20.7 13.2 NL-8.4 -12.9 -11.6 -11.5 -6.9 -3.1 1.3 1.6 -0.1 7.4 AT-12.5 -21.8 -18.7 -15.9 -9.3 -3.0 2.2 2.8 0.9 5.2 PL14.8 0.7 -1.6 3.4 8.5 17.6 28.3 26.5 24.9 36.9 PT-9.9 -17.4 -8.4 -7.5 0.7 5.0 13.9 8.6 8.5 -0.9 RO49.5 12.2 13.8 20.8 21.3 24.5 38.0 23.5 17.6 20.6 SI-5.6 -20.9 -18.6 -13.2 -5.0 3.2 17.8 19.6 16.0 20.2 SK-2.8 -10.4 -4.4 1.7 3.9 7.1 4.9 2.1 1.5 8.1 FI-23.5 -32.4 -32.7 -27.5 -23.2 -15.9 -5.3 -4.1 3.3 12.3 SE-12.2 -19.6 -16.9 -10.1 -10.5 -9.5 -5.7 -6.7 -2.8 4.5 Theexportmarketshareiscalculatedbydividingtheexports(goodsandservices)ofthecountrybythetotalexportsoftheregion/world.TheMIPindicatorisexpressedasthepercentagechangeoverfiveyears.Thetotalworldexport data are based on International Monetary Fund (IMF) data.Source: European Commission, Eurostat, and International Monetary Fund data, WEO (for world volume exports of goods and services)  
 
 
 
 
Table 3.7: Export market share - % of world exports (1 year % change) 

51 

2011201220132014201520162017201820192020BE-2.6 -6.4 1.4 0.5 -7.1 7.0 0.3 -1.5 -0.7 5.6 BG12.0 -4.9 6.4 0.8 -1.2 8.3 4.6 0.2 2.8 -0.5 CZ-0.3 -4.2 -1.6 4.8 -0.7 4.4 1.2 1.0 -0.9 4.2 DK-4.3 -5.1 2.0 0.6 -2.0 1.6 -0.6 0.5 3.4 6.3 DE-2.0 -4.7 0.9 2.6 -0.0 3.3 -1.2 -1.3 -1.9 2.5 EE15.0 -2.7 3.6 0.9 -8.4 6.5 -0.1 1.6 3.1 5.6 IE-9.6 -6.1 1.8 13.1 40.7 4.0 1.4 6.4 9.8 21.7 EL-6.6 -4.9 0.5 3.7 -7.2 -2.1 5.0 7.6 0.8 -19.3 ES-0.6 -6.1 3.7 1.0 -1.4 5.8 0.2 -1.1 -0.8 -10.3 FR-2.7 -4.6 2.3 0.2 1.0 2.2 -3.1 0.3 -0.7 -5.6 HR-6.1 -9.0 1.7 4.5 3.7 9.0 2.4 1.2 4.4 -15.1 IT-3.3 -5.4 0.1 0.8 -2.3 2.7 -0.6 -0.7 -1.3 -2.9 CY-4.5 -7.6 2.7 2.4 2.5 8.2 3.8 3.5 3.5 6.9 LV7.5 3.4 1.9 3.6 -3.6 3.7 1.7 3.0 -1.3 10.2 LT12.2 4.2 5.5 -5.7 -8.6 4.0 9.6 5.0 6.5 9.4 LU-3.8 -0.2 8.9 7.6 4.8 2.6 -1.9 0.7 4.2 14.3 HU-4.2 -10.9 1.5 4.2 0.3 3.4 0.6 -0.3 1.2 3.2 MT-4.3 -1.6 1.1 3.0 11.0 3.5 3.8 -3.1 4.4 4.1 NL-3.6 -3.3 1.3 0.5 -2.0 0.4 1.1 1.6 -1.2 5.4 AT-2.6 -6.4 1.6 1.4 -3.5 4.2 -1.3 2.2 -0.5 0.6 PL-1.7 -3.0 5.1 5.1 3.0 6.6 5.8 3.6 3.8 12.9 PT-0.2 -5.1 6.7 0.9 -1.3 4.1 2.9 1.6 0.9 -9.8 RO6.0 -7.3 15.7 6.7 -0.2 8.9 2.8 3.6 1.6 2.4 SI-1.8 -7.6 2.4 3.9 -1.6 6.7 5.4 3.9 0.8 2.1 SK2.8 0.6 4.8 -1.6 -2.6 6.0 -1.5 2.0 -2.2 3.7 FI-6.1 -7.8 -0.4 -4.5 -6.7 2.8 3.9 0.9 2.8 1.4 SE-0.2 -6.3 -1.2 -1.2 -2.0 0.9 -2.4 -2.2 3.0 5.4 Source: European Commission, Eurostat, and International Monetary Fund data, WEO (for world volume exports of goods and services) Theexportmarketshareiscalculatedbydividingtheexports(goodsandservices)ofthecountrybythetotalexportsoftheregion/world.Theindicatorisexpressedasthepercentagechangeoveroneyear.Thetotalworldexportdata are based on International Monetary Fund (IMF) data. 
 
 
 
 
Table 3.8: Nominal unit labour cost index, 2010=100 (3 year % change) 

52 

2011201220132014201520162017201820192020BE5.1 4.9 7.4 4.3 0.4 -0.7 1.4 3.9 4.9 7.5pBG16.9 10.9 16.2 19.2 17.2 11.0 15.8 20.5 20.4 20.4 CZ3.5 4.3 4.3 4.6 0.6 3.3 5.7 13.1 14.6 19.2 DK3.6 -0.2 1.5 2.3 2.2 1.3 0.9 1.2 2.7 6.2 DE5.6 2.5 6.0 7.4 6.2 5.2 4.9 5.9p7.9p11.1pEE-2.2 0.7 11.6 14.7 15.0 12.6 12.3 13.0 15.4 17.1 IE-14.4b-9.9 -1.7 -3.4 -19.3 -16.2 -14.4 -1.7 -4.3 -6.3 EL9.5 1.6 -4.4 -8.5 -11.0 -4.7 -3.3 -1.0 -1.4p6.4pES-1.4 -5.0 -5.1 -3.6 -1.1 -1.2 -0.6 1.0 5.0p11.0pFR5.4 4.1 4.6 4.4 2.3 1.7 1.7 2.4 0.9p4.6pHR6.3p-2.1p-5.0p-6.9p-6.1p-5.5p-4.0p-0.1p2.8p13.7pIT4.9 2.0 2.9 2.6 2.0 1.5 1.2 2.3 3.3 5.5 CY9.4 3.2 -0.7 -6.5 -10.8 -9.2 -4.6 -0.4 5.3 5.8pLV-17.6 -5.7 9.6 13.2 16.7 14.9 14.2 14.7 15.4 18.4 LT-8.0 -4.3 6.1 8.7 11.8 15.0 16.3 16.4 16.7 18.3 LU12.1 8.0 9.9 5.8 5.6 2.6 6.0 8.7 12.4 11.1 HU3.2 7.0 7.3 6.1 1.3 5.7 9.3 12.4 11.8 13.2pMT9.3 7.2 9.3 2.3 0.9 6.4 6.5 9.6 6.6 19.7 NL5.3 2.6 4.8 3.7 -0.4 -0.3 0.1 3.7 5.8p14.0pAT5.8 3.8 6.4 7.9 6.4 5.5 4.3 4.9 5.7 12.2 PL4.1 5.6 3.8 3.4 0.5 2.5 4.1 8.0 8.1 12.3pPT-0.5 -6.2 -3.8 -2.9 0.2 -0.5 2.8 6.3 8.5 16.2pRO2.2 6.7 -4.7 6.0 0.8 10.0 16.6 29.3 26.3 26.1pSI7.7 0.1 0.1 0.1 -0.1 1.3 3.6 5.7 8.2 14.9 SK5.1 -0.1 3.4 3.0 2.4 4.0 7.7 11.6 14.3 16.4 FI9.0 5.8 9.3 7.6 3.3 0.3 -3.7 -2.0 1.1 6.1 SE4.3 4.1 8.7 7.4 2.5 3.1 4.0 8.0 7.1 9.4 Source: European Commission, EurostatFlags:b:Break in series. p:Provisional. 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. 
 
 
 
 
Table 3.9: Nominal unit labour cost index, 2010=100 (1 year % change) 

53 

2011201220132014201520162017201820192020BE2.8 2.8 1.7 -0.2 -1.0 0.6 1.9 1.5 1.5 4.4pBG2.3 4.3 8.9 5.0 2.5 3.2 9.5 6.7 3.1 9.5 CZ0.8 3.2 0.3 1.1 -0.8 3.0 3.5 6.1 4.3 7.7 DK0.0 0.9 0.7 0.7 0.8 -0.2 0.3 1.1 1.2 3.8 DE0.3 3.4 2.3 1.5 2.2 1.3 1.3 3.2p3.2p4.3pEE1.4 4.3 5.5 4.2 4.6 3.3 3.9 5.2 5.5 5.5 IE-3.0b1.0 0.3 -4.7 -15.6 4.1 -2.7 -3.0 1.4 -4.7 EL2.9 -0.6 -6.5 -1.5 -3.3 0.1 -0.1 -1.0 -0.3p7.8pES-1.7 -2.5 -0.9 -0.2 0.0 -0.9 0.4 1.5 3.0p6.1pFR0.9 2.2 1.4 0.7 0.2 0.7 0.8 0.8 -0.7p4.4pHR-0.3p-1.3p-3.5p-2.2p-0.5p-2.8p-0.7p3.6p0.0p9.8pIT0.5 1.5 0.8 0.2 0.9 0.4 -0.1 2.0 1.4 2.1 CY2.2 1.6 -4.3 -3.8 -3.1 -2.6 1.1 1.1 2.9 1.6pLV1.4 1.8 6.1 4.8 5.0 4.5 4.1 5.4 5.1 6.9 LT0.6 2.2 3.2 3.1 5.1 6.1 4.3 5.2 6.3 5.7 LU5.8 2.1 1.7 1.9 1.9 -1.2 5.3 4.5 2.1 4.1 HU2.2 5.3 -0.3 1.1 0.5 4.0 4.6 3.3 3.4 5.9pMT6.2 2.0 0.9 -0.6 0.5 6.5 -0.5 3.5 3.5 11.7 NL1.2 2.8 0.8 0.1 -1.3 0.9 0.5 2.3 2.9p8.3pAT0.7 3.1 2.5 2.2 1.5 1.7 1.0 2.1 2.5 7.3 PL1.0 2.3 0.4 0.6 -0.5 2.4 2.3 3.2 2.4 6.3pPT-2.1 -3.1 1.5 -1.2 -0.1 0.8 2.1 3.4 2.8 9.3pRO-7.1 2.6 -0.1 3.3 -2.4 9.1 9.6 8.2 6.6 9.3pSI-1.0 0.7 0.4 -1.1 0.6 1.8 1.2 2.7 4.2 7.4 SK1.1 1.1 1.1 0.7 0.6 2.7 4.3 4.2 5.2 6.3 FI2.5 5.1 1.6 0.9 0.8 -1.4 -3.2 2.6 1.7 1.6 SE2.2 4.5 1.8 1.0 -0.3 2.4 1.9 3.5 1.5 4.1 Flags:b:Break in series. p:Provisional. Source: European Commission, EurostatTheNominalunitlabourcost(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. 
 
 
 
 
Table 3.10: House price index (2015=100), deflated (1 year % change) 

54 

2011201220132014201520162017201820192020BE1.10.20.1-1.30.81.11.70.82.63.6BG-8.9-4.6-0.80.10.4b5.33.94.13.95.2pCZ-1.6-3.5-0.71.64.06.89.15.96.25.5DK-4.0-4.93.13.16.65.13.53.71.64.6DE1.62.11.72.24.16.74.65.14.47.1EE3.13.17.312.97.33.71.12.24.46.9IE-17.8-14.40.015.710.77.29.88.10.3-0.2EL-8.2e-12.5e-9.3e-5.2e-3.8e-1.5e-1.4e1.7e7.2e5.5eES-9.8-16.5-10.00.23.74.54.65.24.12.2FR3.8-1.9-2.5-1.6-1.60.82.31.22.54.4HR-2.0-4.6-5.7-1.3-2.62.02.94.67.87.3IT-1.5-5.0-7.5-4.9-4.00.2-2.1-1.5-0.72.2CY-4.4-5.5-3.9-1.11.0b2.21.20.52.60.7pLV4.0-0.36.44.7-2.87.25.36.35.82.7LT2.2-3.20.46.44.74.45.24.54.66.4LU0.72.03.43.74.55.23.35.18.313.8HU-6.6-8.9-4.22.812.512.38.610.711.81.9pMT-3.90.4-1.62.04.14.44.35.04.22.2pNL-4.0-7.9-7.9-0.13.44.46.17.14.66.0pAT3.04.83.01.43.47.03.42.64.06.2PL-4.7-6.6-4.81.12.62.31.84.86.17.1pPT-6.5-8.7-2.64.02.26.17.68.68.77.7RO-15.5-8.9-2.8-3.31.65.23.31.7-1.92.3SI0.9-8.5-7.2-6.21.43.66.66.65.35.2SK-5.2-5.9-0.41.55.57.04.44.96.27.2FI-0.1-0.4-1.3-1.6-0.5b0.60.5-0.20.01.3SE1.20.74.58.312.07.34.8-3.30.43.01) e = source NCB for EL; b = break in time series due to full implementation of harmonised EU methodology for BG and CY; b = break in time series due to new calculation method for New dwellings (apartments) for FI.Source: European Commission, EurostatThedeflatedhousepriceindex(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 1-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.  
 
 
 
 
Table 3.11: Private sector credit flow, consolidated (% of GDP) 

55 

2011201220132014201520162017201820192020BE22.2 14.6 7.9 -2.1 11.5 23.7 2.0 2.6 7.6 1.1pBG3.5 2.6 2.6 2.3 -3.8 3.0 4.5 3.9 5.6 4.2 CZ2.5 3.1 4.3 2.3 -0.4 6.2 6.0 6.8 1.4 2.4 DK4.4 7.9 -3.0 -0.3 2.9 3.1 2.0 4.8 10.7 4.8 DE2.1 1.6 2.7 0.3 2.9 4.6 4.1 6.1p5.8p6.0pEE-0.8 7.7 4.8 5.7 2.7 6.3 4.2 4.6 3.4 3.6 IE16.3 -0.5 -1.4 2.6 -2.3 -15.8 0.3 -8.8 -9.6 -1.8 EL-6.6 -4.8 -4.0 -3.1 -3.1 -2.1 -1.2 -0.9 -0.9p5.4pES-4.2 -11.2 -10.0 -7.0 -2.1 -0.4 0.6 0.0 1.1p4.4pFR6.4 4.2 2.1 3.2 4.6 6.2 7.1 8.2 7.9p13.0pHR-2.4 -2.8 -0.6 -0.2 -1.5 -0.2 1.5 2.2 1.2 1.3pIT3.1 -0.9 -2.8 -0.3 -1.3 0.0 1.2 2.0 0.3 4.1 CY17.7 0.7 -12.2 -0.8 4.3 11.9 7.4 11.5 1.7 -2.6pLV-2.3 -2.4 -0.6 -4.6 -0.8 2.5 2.7 -0.2 1.1 -1.8 LT-2.2 0.4 -0.2 0.2 2.6 4.4 4.5 4.3 2.6 0.3 LU20.8 24.5 26.4 28.1 21.3 -8.5 -4.7 5.2 19.6 44.5 HU-4.3 -5.9 -0.8 -0.3 -2.5 -3.2 0.6 4.2 3.9 7.7pMT6.4 0.7 3.0 6.3 6.8 10.3 6.4 6.9 10.2 9.0 NL8.0 6.1 9.8 4.3 0.1 3.7 4.0 5.6 -0.1 -1.3pAT3.0 1.2 1.0 0.9 2.1 3.3 3.6 4.9 5.0 4.7 PL6.6 4.8 3.2 4.8 3.5 5.3 3.0 3.7 3.6 1.5 PT-0.8 -4.3 -2.3 -6.8 -1.4 -1.8 2.9 0.8 2.6 4.4pRO2.8 0.3 -1.4 -2.3 0.2 0.6 1.7 1.9 2.0 1.3pSI0.5 -2.8 -3.7 -4.7 -5.0 -0.8 0.9 1.3 0.8 -0.9 SK4.6 1.9 5.0 5.0 5.0 9.2 5.0 7.3 4.3 3.7 FI5.3 7.1 2.8 1.7 6.9 1.3 8.3 4.3 6.5 6.5 SE6.9 2.3 4.6 4.5 7.5 8.4 13.1 9.0 9.9 11.6 TheprivatesectorcreditflowrepresentsthenetamountofliabilitiesinwhichthesectorsNon-financialcorporations(S.11),HouseholdsandNon-profitinstitutionsservinghouseholds(S.14_S.15)haveincurredalongtheyear.TheinstrumentstakenintoaccountareDebtsecurities(F.3)andLoans(F.4).Dataarepresentedinconsolidatedterms,i.e.datadonottakeintoaccounttransactionswithinthesamesectorandareexpressedinpercentageofGDP. The indicator is based on National accounts data. Definitions regarding sectors and instruments are based on the ESA 2010 transmission programme.1) 2016: the decline for IE relative to 2015 predominantly reflects restructuring and re-domiciling activities of large multinational companies.Source: European Commission, EurostatFlags:p:Provisional.  
 
 
 
 
Table 3.12: Private sector debt, consolidated (% of GDP) 

56 

2011201220132014201520162017201820192020BE180.6 191.0 163.0 162.5 175.3 194.8 187.8 184.6 186.6 192.0pBG128.4 127.6 130.1 125.1 108.7 103.9 98.6 95.0 90.7 94.3 CZ79.2 81.8 84.8 83.0 78.2 80.4 80.3 83.0 78.6 81.9 DK221.0 224.0 216.1 214.0 211.4 222.4 216.7 215.3 221.0 220.9 DE115.0 114.6 114.8 107.0 106.3 107.1 106.6 107.7p110.7p120.1pEE120.0 118.1 115.9 116.2 113.6 111.9 106.2 101.7 99.0 104.4 IE273.1 276.5 266.1 276.6 304.0 283.2 249.8 231.2 209.4 188.9 EL133.0 135.1 133.4 132.4 129.1 127.0 120.6 119.2 110.5p125.3pES198.2 188.5 178.2 167.7 155.8 147.8 139.2 132.7 128.6p146.4pFR135.3 138.3 137.4 141.5 142.8 143.2 145.0 148.3 152.5p173.7pHR119.5 117.0 115.6 115.8 110.5 102.8 96.3 92.0 88.3 98.0pIT122.2 124.7 122.0 119.8 116.0 112.1 109.4 107.8 106.1 118.9 CY319.8 326.0 341.1 352.1 346.4 327.9 304.3 282.9 249.9 260.5pLV114.5 96.3 90.7 82.2 78.3 78.3 75.6 69.7 66.2 66.5 LT64.6 61.0 56.6 54.1 55.2 56.6 56.2 56.1 55.3 54.7 LU276.8 287.9 296.8 313.2 322.7 302.0 286.5 282.7 302.0 316.8 HU114.1 101.7 95.6 91.3 83.7 76.7 69.9 68.7 67.1 76.4pMT166.3 158.0 146.9 139.6 130.4 132.7 123.6 121.3 121.3 139.1 NL247.6 252.5 258.2 267.6 263.2 259.5 249.6 243.6 232.3p233.7pAT129.4 128.2 127.1 124.8 124.0 123.3 122.3 122.7 121.5 131.2 PL74.0 73.8 75.9 78.7 79.1 81.9 76.9 76.8 73.9 75.9 PT204.6 210.6 201.6 190.1 179.3 169.3 163.0 155.1 149.5 163.7pRO73.7 72.3 66.8 62.0 58.1 53.8 50.9 47.5 46.7 48.5pSI112.9 112.2 107.2 97.9 87.4 81.0 76.1 72.6 68.8 69.7 SK68.6 71.1 75.3 79.1 80.4 88.2 90.0 91.9 92.1 95.3 FI144.6 147.7 147.0 148.8 152.1 148.1 147.7 144.5 146.6 155.2 SE188.0 191.0 193.8 193.1 190.9 192.4 198.6 201.0 203.2 215.7 TheprivatesectordebtisthestockofliabilitiesheldbythesectorsNon-financialcorporations(S.11),HouseholdsandNon-profitinstitutionsservinghouseholds(S.14_S.15).TheinstrumentstakenintoaccountareDebtsecurities(F.3)andLoans(F.4).Dataarepresentedinconsolidatedterms,i.e.donottakingintoaccounttransactionswithinthesamesectorandareexpressedinpercentageofGDP.TheindicatorisbasedonNationalaccounts data. Definitions regarding sectors and instruments are based on the ESA 2010 transmission programme.Flags:p:Provisional. 1)2015:significantincreasesforIEduetore-domicilingoflargemultinationalcorporationsandmovementoflargepartsoftheirbalancesheets;2016:thedeclineforIErelativeto2015predominantlyreflectsrestructuringandre-domicilingactivitiesoflargemultinational companies.Source: European Commission, Eurostat 
 
 
 
 
Table 3.13: General government gross debt (% of GDP) 

57 

2011201220132014201520162017201820192020BE103.5 104.8 105.5 107.0 105.2 105.0 102.0 99.9 97.7 112.8 BG15.2 16.6 17.0 27.0 25.9 29.1 25.1 22.1 20.0 24.7 CZ39.7 44.2 44.4 41.9 39.7 36.6 34.2 32.1 30.0 37.7 DK46.1 44.9 44.0 44.3 39.8 37.2 35.9 34.0 33.6 42.1 DE79.4 80.7 78.3 75.3 72.0 69.0 64.7 61.3 58.9 68.7 EE6.2 9.8 10.2 10.6 10.1 10.0 9.1 8.2 8.6 19.0 IE110.5 119.7 120.0 104.3 76.7 74.3 67.8 63.1 57.2 58.4 EL175.2 162.0 178.2 180.3 176.7 180.5 179.5 186.4 180.7 206.3 ES69.9 86.3 95.8 100.7 99.3 99.2 98.6 97.5 95.5 120.0 FR87.8 90.6 93.4 94.9 95.6 98.0 98.1 97.8 97.5 115.0 HR63.7 69.4 80.3 83.9 83.3 79.8 76.7 73.3 71.1 87.3 IT119.7 126.5 132.5 135.4 135.3 134.8 134.2 134.4 134.3 155.6 CY65.9 80.3 104.0 109.1 107.2 103.1 92.9 98.4 91.1 115.3 LV45.1 42.4 40.4 41.6 37.1 40.4 39.0 37.1 36.7 43.2 LT37.1 39.7 38.7 40.5 42.5 39.7 39.1 33.7 35.9 46.6 LU18.5 20.9 22.4 21.9 21.1 19.6 21.8 20.8 22.3 24.8 HU80.3 78.1 77.2 76.5 75.7 74.8 72.1 69.1 65.5 80.1 MT70.0 66.6 66.4 62.1 56.3 54.6 47.7 43.6 40.7 53.4 NL61.7 66.2 67.7 67.9 64.6 61.9 56.9 52.4 48.5 54.3 AT82.4 81.9 81.3 84.0 84.9 82.8 78.5 74.0 70.6 83.2 PL54.7 54.4 56.5 51.1 51.3 54.2 50.6 48.8 45.6 57.4 PT114.4 129.0 131.4 132.9 131.2 131.5 126.1 121.5 116.6 135.2 RO34.0 37.1 37.6 39.2 37.8 37.3 35.1 34.7 35.3 47.4 SI46.5 53.6 70.0 80.3 82.6 78.5 74.2 70.3 65.6 79.8 SK43.3 51.9 54.9 53.7 51.8 52.4 51.6 49.6 48.1 59.7 FI48.3 53.6 56.2 59.8 63.6 63.2 61.2 59.8 59.5 69.5 SE37.2 37.5 40.3 45.0 43.7 42.3 40.7 38.9 34.9 39.7 Source: European Commission, EurostatDebtmeanstotalgrossdebtatnominal(face)valueoutstandingattheendoftheyearandconsolidatedbetweenandwithinthegeneralgovernment(asdefinedinthecurrentProtocol12,annexedtothe2012consolidatedversionoftheTreatyontheFunctioningoftheEuropeanUnion).ThisdefinitionissupplementedbyCouncilRegulation(EC)No479/2009,asamendedbytheCommissionRegulation(EU)No220/2014.ThestockofgovernmentdebtintheExcessiveDeficitProcedure(EDPdebt)isequaltothesumofliabilities,attheendofyear,ofallunitsclassifiedwithinthegeneralgovernment(S.13)intheinstruments:currencyanddeposits(F.2),debtsecurities (F.3) and loans (F.4). The MIP indicator is expressed in % of GDP. Data source from Government finance statistics. 
 
 
 
 
Table 3.14: Unemployment rate (3 year average) 

58 

2011201220132014201520162017201820192020BE7.8 7.7 7.7 8.2 8.5 8.3 7.8b7.0b6.2b5.7 BG9.5b11.3b12.2b12.2 11.2 9.4 7.7 6.3 5.2 4.8 CZ6.9b7.0b6.9b6.7 6.1 5.1 4.0 3.0 2.4 2.3 DK7.3 7.8 7.7 7.4 6.9 6.4b6.0b5.6b5.3b5.2 DE6.9b6.1b5.5b5.2 4.9 4.6 4.2 3.8 3.4 3.4bpEE14.2 13.0 10.3 8.7 7.4 6.8 6.3 6.0 5.2 5.5 IE14.2 15.2 14.9 13.7 11.9 10.1 8.4 7.0 5.8 5.5 EL13.4b18.4 23.3 26.2 26.3 25.0 23.3 21.5 19.4 17.6 ES19.7 22.0 24.1 25.1 24.2 22.1 19.6 17.4 15.5 15.0 FR9.2e9.4e9.8e10.1e10.3e10.3 10.0 9.5 8.9 8.5 HR11.5 13.8 15.7 16.9 16.9 15.5 13.5 10.9 8.8 7.5 IT8.2 9.2 10.4 11.9 12.3 12.1 11.6 11.2 10.6 9.9 CY6.5b8.7 11.9 14.6 15.7 14.7 13.0 10.8 8.9 7.7 LV17.7 16.9 14.4 12.6 10.9 10.1 9.4 8.6 7.5 7.3 LT15.7 15.5 13.5 12.0 10.5 9.2 8.0 7.1 6.5 7.0 LU4.8b4.8 5.3 5.6 6.2b6.3b6.2b5.8 5.6 6.0 HU10.7 11.1 10.7 9.6 8.2 6.5 5.4 4.3 3.8 3.8 MT6.7 6.5 6.2 6.0 5.7 5.3 4.7 4.1 3.8 3.9 NL4.8 5.3 6.0 6.8 7.2 6.8 5.9 4.9 4.0 3.7 AT4.9 4.8 5.0 5.3 5.6 5.8 5.7 5.5 5.0 4.9 PL9.2b9.8b10.0 9.8 8.9 7.6 6.2 5.0 4.0 3.5 PT11.2b13.2b15.0b15.4 14.4 12.6 10.9 9.1 7.5 6.8 RO7.0b7.0b7.0 6.9 6.9 6.5 5.9 5.0 4.3 4.4 SI7.1 8.1 9.1 9.6 9.6 8.9 7.9 6.6 5.4 4.9 SK13.3b14.0b13.9b13.8 13.0 11.5 9.8 8.1 6.8 6.3 FI8.1 8.0 7.9 8.2 8.8 9.0 8.9 8.3 7.6 7.3 SE8.3 8.1 8.0 8.0 7.8 7.5 7.0 6.7b6.6b7.2b1)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.2)2017,b=changeinthesurveymethodologyforBE;b=LabourForceSurveydatacollectionimprovement,introductionofCAWI(startingwith2016)forDK.3)2015,b=changeinsamplingstrategyanddatacollection technique for LU.Source: European Commission, EurostatTheunemploymentrateisthenumberofunemployedpersonsexpressedasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed),basedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhe3-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. p:Provisional. e:Estimated.  
 
 
 
 
Table 3.15: Unemployment rate (%) 

59 

2011201220132014201520162017201820192020BE7.2 7.6 8.4 8.5 8.5 7.8 7.1b6.0 5.4 5.6 BG11.3b12.3 13.0 11.4 9.2 7.6 6.2 5.2 4.2 5.1 CZ6.7b7.0 7.0 6.1 5.1 4.0 2.9 2.2 2.0 2.6 DK7.8 7.8 7.4 6.9 6.3 6.0b5.8b5.1 5.0 5.6 DE5.8b5.4 5.2 5.0 4.6 4.1 3.8 3.4 3.1 3.8bpEE12.3 10.0 8.6 7.4 6.2 6.8 5.8 5.4 4.4 6.8 IE15.4 15.5 13.8 11.9 10.0 8.4 6.7 5.8 5.0 5.7 EL17.9 24.5 27.5 26.5 24.9 23.6 21.5 19.3 17.3 16.3 ES21.4 24.8 26.1 24.5 22.1 19.6 17.2 15.3 14.1 15.5 FR9.2e9.8e10.3e10.3 10.4 10.1 9.4 9.0 8.4 8.0 HR13.7 16.0 17.3 17.3 16.2 13.1 11.2 8.5 6.6 7.5 IT8.4 10.7 12.2 12.7 11.9 11.7 11.2 10.6 10.0 9.2 CY7.9 11.9 15.9 16.1 15.0 13.0 11.1 8.4 7.1 7.6 LV16.2 15.0 11.9 10.8 9.9 9.6 8.7 7.4 6.3 8.1 LT15.4 13.4 11.8 10.7 9.1 7.9 7.1 6.2 6.3 8.5 LU4.9 5.1 5.9 5.9 6.7b6.3 5.5 5.6 5.6 6.8 HU11.0 11.0 10.2 7.7 6.8 5.1 4.2 3.7 3.4 4.3 MT6.4 6.2 6.1 5.7 5.4 4.7 4.0 3.7 3.6 4.4 NL5.0 5.8 7.3 7.4 6.9 6.0 4.9 3.8 3.4 3.8 AT4.6 4.9 5.4 5.6 5.7 6.0 5.5 4.9 4.5 5.4 PL9.7 10.1 10.3 9.0 7.5 6.2 4.9 3.9 3.3 3.2 PT12.9b15.8 16.4 14.1 12.6 11.2 9.0 7.1 6.5 6.9 RO7.2 6.8 7.1 6.8 6.8 5.9 4.9 4.2 3.9 5.0 SI8.2 8.9 10.1 9.7 9.0 8.0 6.6 5.1 4.5 5.0 SK13.6b14.0 14.2 13.2 11.5 9.7 8.1 6.5 5.8 6.7 FI7.8 7.7 8.2 8.7 9.4 8.8 8.6 7.4 6.7 7.8 SE7.8 8.0 8.1 8.0 7.4 7.0 6.7 6.4b6.8 8.3 1)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.2)2017,b=changeinthesurveymethodologyforBE;b=LabourForceSurveydatacollectionimprovement,introductionofCAWI(startingwith2016)forDK.3)2015,b=changeinsamplingstrategyanddatacollection technique for LU.Source: European Commission, EurostatTheunemploymentrateisthenumberofunemployedpersonsexpressedasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed),basedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS),which covers the resident population in private households.Flags:b:Break in series. p:Provisional. e:Estimated.  
 
 
 
 
Table 3.16: Total financial sector liabilities, non-consolidated (1 year % change) 

60 

2011201220132014201520162017201820192020BE5.4 -5.1 1.2 2.6 2.6 2.4 1.4 -3.3 4.8 8.8 BG4.3 11.7 1.1 7.9 9.6 9.5 7.1 6.6 5.2 11.1 CZ4.8 5.0 10.1 5.2 7.9 16.8 28.3 3.4 4.6 3.4 DK1.6 2.5 1.8 7.3 -0.9 15.4 2.5 -0.3 13.1 5.7 DE3.1 3.3 -6.6 5.3 3.1 5.4 4.1 1.9 7.4 11.3 EE-0.2 10.9 10.3 13.0 8.6 8.4 12.3 6.6 11.7 17.5 IE-2.2 -1.1 2.1 19.5 9.6 1.5 4.2 5.2 15.3 7.2 EL-3.9 -2.1 -17.6 -8.3 6.3 -10.2 -12.8 -4.9 11.8 27.4 ES3.4 0.6 -10.4 0.3 -1.8 1.8 4.3 -1.8 0.7 9.5 FR6.9 1.4 0.5 5.6 2.2 4.9 4.3 1.7b7.3 11.6pHR1.9 0.9 2.7 0.6 2.0 3.5 3.9 4.5 6.7 7.3 IT4.9 7.1 -2.3 0.9 1.4 3.3 1.9 0.0 4.6 6.8 CY9.6 11.8 -3.1 11.6 9.7 -0.3 0.8 -1.8 5.6 -2.5 LV-4.3 5.4 5.7 10.9 13.3 4.7 6.2 -3.5 4.6 10.8 LT1.9 -0.6 -1.3 16.7 7.1 15.8 12.9 9.1 6.2 28.5 LU14.3 14.9 10.3 38.4 16.8 5.0 0.5 -1.1 3.8 -3.6 HU6.2 -5.8 -1.2 8.7 0.4 19.5 -7.1 -9.1 36.7 55.3 MT10.2 8.3 0.0 6.0 3.6 3.8 7.7 2.7 7.1 1.9 NL10.3 6.0 -1.6 8.0 4.0 7.4 0.5 -2.8 6.3p3.3pAT1.5 0.4 -3.2 -0.8 -0.1 -3.5 4.4 -0.8 4.3 10.6 PL6.4 9.0 6.3 1.7 2.9 9.2 4.7 3.3 4.3 11.7 PT-4.9 -3.5 -5.2 -7.3 -1.4 -0.4 1.3 0.4 -0.2 7.2 RO4.5 4.8 0.8 1.2 4.1 7.0 8.2 3.4 10.3 13.4 SI-1.2 -0.7 -10.1 -0.1 -3.8 3.4 5.3 4.1 9.9 14.0 SK0.6 1.1 1.4 9.4 10.4 8.6 16.6 9.0 5.6 9.9 FI28.7 -1.3 -11.5 9.4 1.4 3.8 -4.1 20.1 7.8 7.7 SE1.9 5.6 9.8 12.6 1.8 9.1 6.9 -2.7 10.7 11.2 ThetotalFinancialcorporationssectorliabilitiesmeasurestheevolutionofthesumofliabilities,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.datatakeintoaccounttransactionswithinthesamesectorandareexpressedas1-yearpercentagechange.TheindicatorisbasedonNationalaccountsdata.DefinitionsregardingsectorsandinstrumentsarebasedontheESA 2010 transmission programme.Flags:b:Break in series. p:Provisional. 1) 2018: the increase for FI is largely explained by international group changes in the deposit-taking corporations sector.Source: European Commission, Eurostat 
 
 
 
 
Table 3.17: Total financial sector liabilities, non-consolidated (Millions NC) 

61 

2011201220132014201520162017201820192020BE2298244.3 2180843.6 2207834.6 2265281.1 2324475.1 2380648.8 2413734.2 2333703.1 2445374.7 2660232.5 BG120651.1 134824.3 136281.4 147048.9 161144.7 176511.7 189113.4 201581.0 212128.6 235645.7 CZ6956711.0 7305355.0 8040729.0 8458862.0 9126720.0 10657615.0 13670621.0 14137163.0 14783577.0 15279750.0 DK14396781.0 14763194.0 15027912.0 16127830.0 15986470.0 18447205.0 18914372.0 18863498.0 21336293.0 22554652.0 DE12763471.0 13181809.0 12310478.0 12965222.0 13365694.0 14084681.0 14658773.0 14940645.0 16044474.0 17862842.0 EE27900.6 30935.2 34133.0 38580.5 41915.5 45448.2 51021.6 54410.1 60753.2 71390.9 IE3607446.0 3567906.0 3642539.0 4352872.0 4770136.0 4840670.0 5045712.0 5309422.0 6119496.0 6557671.0 EL633716.8 620307.9 511346.8 469101.9 498607.9 447507.0 390107.6 371061.1 415004.6 528545.7 ES5000341.0 5031244.0 4507449.0 4522682.0 4439334.0 4520456.0 4716994.0 4633024.0 4665878.0 5107709.0 FR12167107.0 12341703.0 12402374.0 13091478.0 13376008.0 14035900.0 14634292.0 14888342.0b15976147.0 17833398.0pHR625189.7 630960.1 648311.4 652147.8 665392.4 688589.7 715113.2 747447.5 797872.1 856322.9 IT5522172.0 5911641.0 5775305.0 5828629.0 5909424.0 6101522.0 6215059.0 6217899.0 6504820.0 6948152.0 CY405007.2 452927.0 438663.2 489604.8 537188.8 535827.3 540136.5 530374.8 560014.5 546203.9 LV37417.0 39455.0 41706.0 46265.0 52434.0 54903.0 58294.0 56254.0 58820.0 65154.0 LT36505.8 36302.2 35823.1 41793.1 44779.4 51840.0 58511.4 63861.0 67816.5 87119.5 LU7165305.9 8236414.2 9085387.7 12575485.6 14688885.1 15425841.4 15506189.9 15331816.1 15914165.5 15334812.0 HU96567345.0 90957564.0 89837099.0 97629411.0 98032446.0 117143616.0 108833957.0 98903585.0 135206795.0 209948350.0 MT215962.2 233985.8 234039.4 248121.3 257162.1 266827.2 287445.0 295149.3 316229.4 322131.4 NL8673244.0 9189981.0 9044680.0 9771090.0 10160812.0 10913111.0 10967716.0 10662866.0 11332554.0p11704018.0pAT1534950.2 1541091.1 1491604.4 1479310.2 1477350.5 1426002.1 1488477.3 1475931.2 1540014.6 1703740.6 PL2309651.0 2517978.0 2675880.0 2721249.0 2799185.0 3057639.0 3202468.0 3308736.0 3450788.0 3853018.0 PT956187.6 922468.2 874227.2 810817.1 799708.3 796549.5 807036.9 809862.5 807981.7 866063.9 RO600205.0 629203.6 634054.3 641823.0 667914.3 714759.1 773601.7 799619.1 881907.2 1000123.2 SI74916.0 74385.0 66869.0 66769.0 64263.0 66455.0 69978.0 72823.0 80015.0 91205.0 SK95434.2 96488.1 97880.9 107034.9 118179.9 128315.0 149570.4 163077.4 172278.8 189286.6 FI875092.0 863871.0 764312.0 836122.0 847431.0 879688.0 843518.0 1013226.0 1092168.0 1176039.0 SE17484957.0 18460396.0 20271440.0 22829100.0 23245026.0 25358800.0 27111074.0 26383823.0 29215772.0 32488495.0 ThetotalFinancialcorporationssectorliabilitiesmeasurestheevolutionofthesumofliabilities,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.datatakeintoaccounttransactionswithinthesamesectorandareexpressedinmillionsofnationalcurrency.TheindicatorisbasedonNationalaccountsdata.DefinitionsregardingsectorsandinstrumentsarebasedontheESA 2010 transmission programme.Flags:b:Break in series. p:Provisional. 1) 2018: the increase for FI is largely explained by international group changes in the deposit-taking corporations sector.Source: European Commission, Eurostat 
 
 
 
 
Table 3.18: Activity rate - % of total population aged 15-64 (3 year change in pp)   

62 

2011201220132014201520162017201820192020BE-0.4 0.0 -0.2 1.0 0.7 0.1 0.3b1.0 1.4 0.6bBG-1.9b-0.1 1.7b3.1b2.2 0.3 2.3 2.2 4.5 0.9 CZ0.8b1.5 2.7 3.0b2.4 2.1 2.4 2.6 1.7 0.5 DK-1.5b-1.5 -1.4 -1.2 -0.3 0.9b1.3b1.3 1.6b1.1bDE1.4b0.9 0.9b0.4b0.4 0.3 0.5 1.0 1.3 1.1bpEE0.5 0.8 1.2 0.5 1.9 2.4 3.6 2.4 1.4 0.5 IE-3.6 -1.9 0.2 0.6 1.0 0.9 0.9 0.8 0.6 -0.8 EL0.6 0.1b-0.3 0.1 0.3 0.7 0.9 0.4 0.2 -0.9 ES1.2 1.2 0.8 0.3 0.0 -0.1 -0.3 -0.6 -0.4 -1.7 FR0.4e0.5e0.9e1.1e0.9e0.5e0.5 0.6 0.3 -0.5 HR-1.7 -1.7 -1.4 2.0 3.0 1.9 0.3 -0.6 0.9 0.7 IT-0.8 1.2 1.4 1.8 0.5 1.5 1.5 1.6 0.8 -1.3 CY-0.1 0.5b0.0 0.8 0.4 -0.2 -0.4 1.1 2.6 1.9 LV-1.4 0.9 1.0 1.8 1.3 2.3 2.4 2.0 1.0 1.2 LT3.0 2.2 2.2 2.3 2.3 3.1 2.2 3.2 2.5 2.6 LU1.1 0.7b1.7 2.9 1.5b0.1 -0.6 0.2b2.0 2.0 HU1.2 2.5 2.8 4.6 4.9 5.4 4.2 3.3 2.5 1.6 MT2.7 4.5 5.9 6.0 4.9 4.3 4.4 5.9 5.3 4.9 NL0.3 0.9 1.5 0.9 0.6 0.3 0.7 0.7 1.2 1.2 AT0.7 0.8 1.1 0.8 0.4 0.7 1.0 1.3 0.9 0.2 PL1.9 1.8 1.7b2.2 1.6 1.8 1.7 2.0 1.8 1.4 PT-0.3b0.0 -0.7 -0.4b0.0 0.7 1.5 1.7 1.8 -0.4 RO1.2 1.7 0.0b1.6 1.3 0.7 1.6 1.7 3.0 1.9 SI-1.5 -1.4 -1.0 0.6 1.4 1.1 3.3 3.2 3.6 0.4 SK-0.1b1.0 1.2 1.6b1.5 2.0 1.8 1.5 0.8 0.3 FI-1.1 0.2 0.7 0.5 0.6 0.7 1.3 2.1 2.4 1.6 SE0.6 1.4 2.0 1.6 1.4 1.0 1.0 1.0b0.8 0.0 Flags:b:Break in series. p:Provisional. e:Estimated. 1)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.2)2017,b=changeinthesurveymethodologyforBE;b=LabourForceSurveydatacollectionimprovement,introductionofCAWI(startingwith2016)forDK.3)2015,b=changeinsamplingstrategyanddatacollection technique for LU.Source: European Commission, EurostatTheactivityrateisthepercentageofeconomicallyactivepopulationaged15-64onthetotalpopulationofthesameage.AccordingtothedefinitionsoftheInternationalLabourOrganisation(ILO)forthepurposesofthelabourmarketstatisticspeopleareclassifiedasemployed,unemployedoroutsidethelabourforce.Theeconomicallyactivepopulation(alsocalledlabourforce)isthesumofemployedandunemployedpersons.Personsoutsidethelabourforcearethosewho,duringthereferenceweek,wereneitheremployednorunemployed.TheMIPScoreboardindicatoristhe3-yearchangeinpercentagepoints.ThedatasourceisthequarterlyEULabourForceSurvey(EU LFS). The survey covers the resident population in private households. 
 
 
 
Table 3.19: Activity rate - % of total population aged 15-64 

63 

2011201220132014201520162017201820192020BE66.7 66.9 67.5 67.7 67.6 67.6 68.0b68.6 69.0 68.6 BG65.9b67.1 68.4 69.0 69.3 68.7 71.3 71.5 73.2 72.2 CZ70.5b71.6 72.9 73.5 74.0 75.0 75.9 76.6 76.7 76.4 DK77.8 77.2 76.6 76.6 76.9 77.5b77.9b78.2 79.1 79.0 DE77.3b77.2 77.6 77.7 77.6 77.9 78.2 78.6 79.2 79.3bpEE74.7 74.8 75.1 75.2 76.7 77.5 78.8 79.1 78.9 79.3 IE71.2 71.1 71.8 71.8 72.1 72.7 72.7 72.9 73.3 71.9 EL67.3 67.5 67.5 67.4 67.8 68.2 68.3 68.2 68.4 67.4 ES73.9 74.3 74.3 74.2 74.3 74.2 73.9 73.7 73.8 72.2 FR69.9e70.4e70.9e71.0 71.3 71.4 71.5 71.9 71.7 71.0 HR64.1 63.9 63.7 66.1 66.9 65.6 66.4 66.3 66.5 67.1 IT62.1 63.5 63.4 63.9 64.0 64.9 65.4 65.6 65.7 64.1 CY73.5 73.5 73.6 74.3 73.9 73.4 73.9 75.0 76.0 75.8 LV72.8 74.4 74.0 74.6 75.7 76.3 77.0 77.7 77.3 78.2 LT71.4 71.8 72.4 73.7 74.1 75.5 75.9 77.3 78.0 78.5 LU67.9 69.4 69.9 70.8 70.9b70.0 70.2 71.1 72.0 72.2 HU62.4 63.7 64.7 67.0 68.6 70.1 71.2 71.9 72.6 72.8 MT61.8 63.9 66.3 67.8 68.8 70.6 72.2 74.7 75.9 77.1 NL78.1 79.0 79.4 79.0 79.6 79.7 79.7 80.3 80.9 80.9 AT74.6 75.1 75.5 75.4 75.5 76.2 76.4 76.8 77.1 76.6 PL65.7 66.5 67.0 67.9 68.1 68.8 69.6 70.1 70.6 71.0 PT73.6b73.4 73.0 73.2 73.4 73.7 74.7 75.1 75.5 74.3 RO64.1 64.8 64.9 65.7 66.1 65.6 67.3 67.8 68.6 69.2 SI70.3 70.4 70.5 70.9 71.8 71.6 74.2 75.0 75.2 74.6 SK68.7b69.4 69.9 70.3 70.9 71.9 72.1 72.4 72.7 72.4 FI74.9 75.2 75.2 75.4 75.8 75.9 76.7 77.9 78.3 78.3 SE79.9 80.3 81.1 81.5 81.7 82.1 82.5 82.7b82.9 82.5 Theactivityrateisthepercentageofeconomicallyactivepopulationaged15-64onthetotalpopulationofthesameage.AccordingtothedefinitionsoftheInternationalLabourOrganisation(ILO)forthepurposesofthelabourmarketstatisticspeopleareclassifiedasemployed,unemployedoroutsidethelabourforce.Theeconomicallyactivepopulation(alsocalledlabourforce)isthesumofemployedandunemployedpersons.Personsoutsidethelabour force are those 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.1)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.2)2017,b=changeinthesurveymethodologyforBE;b=LabourForceSurveydatacollectionimprovement,introductionofCAWI(startingwith2016)forDK.3)2015,b=changeinsamplingstrategyanddatacollection technique for LU.Source: European Commission, EurostatFlags:b:Break in series. p:Provisional. e:Estimated.  
 
 
 
 
Table 3.20: Long-term unemployment rate - % of active population aged 15-74 (3 year change in pp) 

64 

2011201220132014201520162017201820192020BE0.2 -0.1 -0.1 0.8 1.0 0.1 -0.8b-1.5 -1.7 -1.2 BG3.4b3.8 2.7 0.6 -1.2 -2.9 -3.5 -2.6 -2.1 -1.1 CZ0.5b1.0 0.0 0.0 -0.6 -1.3 -1.7 -1.7 -1.1 -0.4 DK1.3 1.5 0.4 -0.1 -0.5 -0.6b-0.5b-0.6 -0.4 -0.3 DE-1.1b-1.1 -1.0 -0.6 -0.4 -0.6 -0.6 -0.6 -0.5 -0.5bpEE5.4 1.8 -3.8 -3.8 -3.1 -1.7 -1.4 -1.1 -1.2 -0.7 IE7.1 5.7 1.1 -2.2 -3.9 -3.8 -3.6 -3.2 -2.6 -1.7 EL5.1 10.6 12.8 10.7 3.7 -1.5 -3.9 -4.6 -4.8 -4.7 ES6.9 6.7 5.7 4.0 0.4 -3.5 -5.2 -5.0 -4.2 -2.7 FR1.0e0.9e0.6e0.6 0.4 0.1 -0.3 -0.8 -1.2 -1.3 HR3.1 5.1 4.4 1.7 0.0 -4.4 -5.5 -6.8 -4.2 -2.5 IT1.3 2.2 2.9 3.4 1.3 -0.2 -1.2 -0.7 -1.1 -1.8 CY1.1 3.0 4.8 6.1 3.2 -0.3 -3.2 -4.1 -3.7 -2.4 LV6.9 3.3 -3.1 -4.2 -3.3 -1.7 -1.3 -1.4 -1.6 -1.1 LT6.7 3.3 -2.3 -3.2 -2.7 -2.1 -2.1 -1.9 -1.1 -0.2 LU-0.2 0.4 0.5 0.2 0.3b0.4 0.5 -0.5 -0.9 -0.4 HU1.6 0.8 -0.6 -1.5 -1.9 -2.5 -2.0 -1.7 -1.3 -0.6 MT1.3 0.9 -0.6 -1.0 -1.1 -1.1 -0.9 -0.9 -1.5 -0.9 NL0.4 0.8 1.2 1.3 1.1 0.0 -1.0 -1.6 -1.5 -1.0 AT0.2 0.0 0.1 0.3 0.5 0.6 0.3 -0.3 -0.8 -0.5 PL1.2 1.6 1.4 0.2 -1.1 -2.2 -2.3 -2.0 -1.5 -0.9 PT2.6b3.5 3.6 2.2 -0.5 -3.1 -3.9 -4.1 -3.4 -2.2 RO0.5 0.8 0.8 -0.1 0.0 -0.2 -0.8 -1.2 -1.3 -0.5 SI1.7 2.5 2.0 1.7 0.4 -0.9 -2.2 -2.5 -2.4 -1.2 SK2.6b2.9 0.8 0.1 -1.8 -4.2 -4.2 -3.6 -2.4 -1.9 FI0.5 0.2 -0.3 0.2 0.7 0.6 0.2 -0.7 -1.1 -0.9 SE0.7 0.4 -0.2 -0.1 0.0 -0.1 -0.2 -0.4b-0.4 -0.1 Thelong-termunemploymentrateisthenumberofpersonsunemployedfor12monthsorlongerasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed).TheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforcebasedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhe3-yearchangeinpercentagepoints.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS),whichcoverstheresidentpopulation in private households.Flags:b:Break in series. p:Provisional. e:Estimated. 1)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.2)2017,b=changeinthesurveymethodologyforBE;b=LabourForceSurveydatacollectionimprovement,introductionofCAWI(startingwith2016)forDK.3)2015,b=changeinsamplingstrategyanddatacollection technique for LU.Source: European Commission, Eurostat 
 
 
 
 
Table 3.21: Long-term unemployment rate - % of active population aged 15-74 

65 

2011201220132014201520162017201820192020BE3.5 3.4 3.9 4.3 4.4 4.0 3.5b2.9 2.3 2.3 BG6.3b6.8 7.4 6.9 5.6 4.5 3.4 3.0 2.4 2.3 CZ2.7b3.0 3.0 2.7 2.4 1.7 1.0 0.7 0.6 0.6 DK1.8 2.1 1.8 1.7 1.6 1.2b1.2b1.0 0.8 0.9 DE2.8b2.4 2.3 2.2 2.0 1.7 1.6 1.4 1.2 1.1bpEE7.1 5.5 3.8 3.3 2.4 2.1 1.9 1.3 0.9 1.2 IE8.8 9.2 8.0 6.6 5.3 4.2 3.0 2.1 1.6 1.3 EL8.8 14.5 18.5 19.5 18.2 17.0 15.6 13.6 12.2 10.9 ES8.9 11.0 13.0 12.9 11.4 9.5 7.7 6.4 5.3 5.0 FR3.9e4.2e4.5e4.5 4.6 4.6 4.2 3.8 3.4 2.9 HR8.4 10.2 11.0 10.1 10.2 6.6 4.6 3.4 2.4 2.1 IT4.3 5.6 6.9 7.7 6.9 6.7 6.5 6.2 5.6 4.7 CY1.6 3.6 6.1 7.7 6.8 5.8 4.5 2.7 2.1 2.1 LV8.8 7.8 5.7 4.6 4.5 4.0 3.3 3.1 2.4 2.2 LT8.0 6.6 5.1 4.8 3.9 3.0 2.7 2.0 1.9 2.5 LU1.4 1.6 1.8 1.6 1.9b2.2 2.1 1.4 1.3 1.7 HU5.2 5.0 4.9 3.7 3.1 2.4 1.7 1.4 1.1 1.1 MT3.9 3.8 3.5 2.9 2.7 2.4 2.0 1.8 0.9 1.1 NL1.6 1.9 2.5 2.9 3.0 2.5 1.9 1.4 1.0 0.9 AT1.2 1.2 1.3 1.5 1.7 1.9 1.8 1.4 1.1 1.3 PL3.6 4.1 4.4 3.8 3.0 2.2 1.5 1.0 0.7 0.6 PT6.2b7.7 9.3 8.4 7.2 6.2 4.5 3.1 2.8 2.3 RO2.9 3.0 3.2 2.8 3.0 3.0 2.0 1.8 1.7 1.5 SI3.6 4.3 5.2 5.3 4.7 4.3 3.1 2.2 1.9 1.9 SK9.2b9.4 10.0 9.3 7.6 5.8 5.1 4.0 3.4 3.2 FI1.7 1.6 1.7 1.9 2.3 2.3 2.1 1.6 1.2 1.2 SE1.5 1.5 1.4 1.4 1.5 1.3 1.2 1.1b0.9 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. p:Provisional. e:Estimated. 1)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.2)2017,b=changeinthesurveymethodologyforBE;b=LabourForceSurveydatacollectionimprovement,introductionofCAWI(startingwith2016)forDK.3)2015,b=changeinsamplingstrategyanddatacollection technique for LU.Source: European Commission, Eurostat 
 
 
 
 
Table 3.22: Youth unemployment rate - % of active population aged 15-24 (3 year change in pp)  

66 

2011201220132014201520162017201820192020BE0.7 -2.1 1.3 4.5 2.3 -3.6 -3.9b-6.3 -5.9 -4.0 BG12.3b11.9 6.5 -1.2 -6.5 -11.2 -10.9 -8.9 -8.3 1.3 CZ8.2b2.9 0.7 -2.2 -6.9 -8.5 -8.0 -5.9 -4.9 0.1 DK6.9 2.3 -0.8 -2.2 -3.6 -2.6b-1.8b-1.7 -2.1 -0.8 DE-2.1b-3.2 -2.0 -0.8 -0.8 -0.7 -0.9 -1.0 -1.3 0.6bpEE10.4 -6.5 -14.2 -7.4 -7.8 -5.3 -2.9 -1.3 -2.3 5.8 IE16.1 6.3 -1.4 -6.2 -10.6 -9.9 -9.0 -6.4 -4.3 0.9 EL22.8 29.6 25.3 7.7 -5.5 -11.0 -8.8 -9.9 -12.1 -8.6 ES21.7 15.2 14.0 7.0 -4.6 -11.1 -14.6 -14.0 -11.9 -0.3 FR3.7e0.8e1.6e1.5 0.3 -0.4 -2.1 -3.9 -5.0 -1.9 HR13.0 16.9 17.6 8.8 0.2 -18.7 -18.1 -18.6 -14.7 -6.3 IT8.0 10.0 12.1 13.5 5.0 -2.2 -8.0 -8.1 -8.6 -5.3 CY13.4 13.9 22.3 13.6 5.1 -9.8 -11.3 -12.6 -12.5 -6.5 LV17.4 -4.8 -13.0 -11.4 -12.2 -5.9 -2.6 -4.1 -4.9 -2.1 LT19.3 -2.9 -13.8 -13.3 -10.4 -7.4 -6.0 -5.2 -2.6 6.3 LU-1.1 1.6 1.3 5.8 -1.5b3.4 -7.2 -3.1 -1.9 7.8 HU6.5 1.8 0.2 -5.6 -10.9 -13.7 -9.7 -7.1 -1.5 2.1 MT1.6 -0.7 -0.5 -1.6 -2.2 -2.0 -1.1 -2.5 -1.4 0.3 NL1.4 1.5 2.1 2.7 -0.4 -2.4 -3.8 -4.1 -4.1 0.2 AT0.4 -1.3 0.2 1.4 1.2 1.5 -0.5 -1.2 -2.7 0.7 PL8.5 5.9 3.6 -1.9 -5.7 -9.6 -9.1 -9.1 -7.8 -4.0 PT13.6b17.6 15.3 4.5 -5.9 -10.1 -10.9 -11.7 -9.7 -1.3 RO5.3 1.8 1.6 0.1 -0.9 -3.1 -5.7 -5.5 -3.8 -1.0 SI5.3 7.0 6.9 4.5 -4.3 -6.4 -9.0 -7.5 -7.1 3.0 SK14.4b6.7 0.1 -3.7 -7.5 -11.5 -10.8 -11.6 -6.1 0.4 FI3.6 -2.5 -1.5 0.4 3.4 0.2 -0.4 -5.4 -2.9 1.3 SE2.6 -1.4 -1.3 0.1 -3.2 -4.6 -5.0 -3.0b1.2 6.0 Theyouthunemploymentrateistheunemploymentrateofpeopleaged15-24asapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed)ofthesameage.TheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforcebasedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweek;orhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhe3-yearchangeinpercentagepoints.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS),whichcoverstheresidentpopulationin private households.Flags:b:Break in series. p:Provisional. e:Estimated. 1)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.2)2017,b=changeinthesurveymethodologyforBE;b=LabourForceSurveydatacollectionimprovement,introductionofCAWI(startingwith2016)forDK.3)2015,b=changeinsamplingstrategyanddatacollection technique for LU.Source: European Commission, Eurostat 
 
 
 
Table 3.23: Youth unemployment rate - % of active population aged 15-24   

67 

2011201220132014201520162017201820192020BE18.7 19.8 23.7 23.2 22.1 20.1 19.3b15.8 14.2 15.3 BG25.0b28.1 28.4 23.8 21.6 17.2 12.9 12.7 8.9 14.2 CZ18.1b19.5 19.0 15.9 12.6 10.5 7.9 6.7 5.6 8.0 DK16.4 15.8 14.8 14.2 12.2 12.2b12.4b10.5 10.1 11.6 DE8.5b8.0 7.8 7.7 7.2 7.1 6.8 6.2 5.8 7.4bpEE22.4 20.9 18.7 15.0 13.1 13.4 12.1 11.8 11.1 17.9 IE29.6 30.8 26.7 23.4 20.2 16.8 14.4 13.8 12.5 15.3 EL44.7 55.3 58.3 52.4 49.8 47.3 43.6 39.9 35.2 35.0 ES46.2 52.9 55.5 53.2 48.3 44.4 38.6 34.3 32.5 38.3 FR22.7e24.4e24.9e24.2 24.7 24.5 22.1 20.8 19.5 20.2 HR36.7 42.1 50.0 45.5 42.3 31.3 27.4 23.7 16.6 21.1 IT29.2 35.3 40.0 42.7 40.3 37.8 34.7 32.2 29.2 29.4 CY22.4 27.7 38.9 36.0 32.8 29.1 24.7 20.2 16.6 18.2 LV31.0 28.5 23.2 19.6 16.3 17.3 17.0 12.2 12.4 14.9 LT32.6 26.7 21.9 19.3 16.3 14.5 13.3 11.1 11.9 19.6 LU16.8 18.8 15.5 22.6 17.3b18.9 15.4 14.2 17.0 23.2 HU26.0 28.2 26.6 20.4 17.3 12.9 10.7 10.2 11.4 12.8 MT13.3 13.8 12.7 11.7 11.6 10.7 10.6 9.1 9.3 10.9 NL10.0 11.7 13.2 12.7 11.3 10.8 8.9 7.2 6.7 9.1 AT8.9 9.4 9.7 10.3 10.6 11.2 9.8 9.4 8.5 10.5 PL25.8 26.5 27.3 23.9 20.8 17.7 14.8 11.7 9.9 10.8 PT30.3b37.9 38.1 34.8 32.0 28.0 23.9 20.3 18.3 22.6 RO23.9 22.6 23.7 24.0 21.7 20.6 18.3 16.2 16.8 17.3 SI15.7 20.6 21.6 20.2 16.3 15.2 11.2 8.8 8.1 14.2 SK33.4b34.0 33.7 29.7 26.5 22.2 18.9 14.9 16.1 19.3 FI20.1 19.0 19.9 20.5 22.4 20.1 20.1 17.0 17.2 21.4 SE22.8 23.6 23.5 22.9 20.4 18.9 17.9 17.4b20.1 23.9 Theyouthunemploymentrateistheunemploymentrateofpeopleaged15-24asapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed)ofthesameage.TheunemploymentrateisthenumberofunemployedpersonsasapercentageofthelabourforcebasedontheInternationalLabourOffice(ILO)definition.Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werewithoutworkduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfound 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. p:Provisional. e:Estimated. 1)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.2)2017,b=changeinthesurveymethodologyforBE;b=LabourForceSurveydatacollectionimprovement,introductionofCAWI(startingwith2016)forDK.3)2015,b=changeinsamplingstrategyanddatacollection technique for LU.Source: European Commission, Eurostat 
 
 
 
Table 3.24: Real GDP (1 year % change)  

68 

2011201220132014201520162017201820192020BE1.7 0.7 0.5 1.6 2.0 1.3 1.6 1.8 2.1 -5.7pBG2.1 0.8 -0.6 1.0 3.4 3.0 2.8 2.7 4.0 -4.4 CZ1.8 -0.8 0.0 2.3 5.4 2.5 5.2 3.2 3.0 -5.8 DK1.3 0.2 0.9 1.6 2.3 3.2 2.8 2.0 2.1 -2.1 DE3.9 0.4 0.4 2.2 1.5 2.2 2.7 1.1p1.1p-4.6pEE7.3 3.2 1.5 3.0 1.9 3.2 5.8 4.1 4.1 -3.0 IE1.1 -0.1 1.3 8.7 25.2 2.0 8.9 9.0 4.9 5.9 EL-10.1 -7.1 -2.5 0.5 -0.2 -0.5 1.1 1.7 1.8p-9.0pES-0.8 -3.0 -1.4 1.4 3.8 3.0 3.0 2.3 2.1p-10.8pFR2.2 0.3 0.6 1.0 1.1 1.1 2.3 1.9 1.8p-7.9pHR-0.1 -2.3 -0.4 -0.3 2.5 3.5 3.4 2.9 3.5 -8.1pIT0.7 -3.0 -1.8 0.0 0.8 1.3 1.7 0.9 0.4 -8.9 CY0.4 -3.4 -6.6 -1.8 3.4 6.5 5.9 5.7 5.3 -5.2pLV2.6 7.0 2.0 1.9 3.9 2.4 3.3 4.0 2.5 -3.6 LT6.0 3.8 3.6 3.5 2.0 2.5 4.3 4.0 4.6 -0.1 LU1.0 1.6 3.2 2.6 2.3 5.0 1.3 2.0 3.3 -1.8 HU1.9 -1.3 1.8 4.2 3.7 2.2 4.3 5.4 4.6 -4.7pMT0.5 4.1 5.5 7.6 9.6 3.8 11.0 6.1 5.7 -8.3 NL1.6 -1.0 -0.1 1.4 2.0 2.2 2.9 2.4 2.0 -3.8pAT2.9 0.7 0.0 0.7 1.0 2.0 2.3 2.5 1.5 -6.7 PL4.8 1.3 1.1 3.4 4.2 3.1 4.8 5.4 4.7 -2.5 PT-1.7 -4.1 -0.9 0.8 1.8 2.0 3.5 2.8 2.7 -8.4pRO1.9 2.0 3.8 3.6 3.0 4.7 7.3 4.5 4.2 -3.9pSI0.9 -2.6 -1.0 2.8 2.2 3.2 4.8 4.4 3.3 -4.2 SK2.6 1.4 0.7 2.7 5.2 1.9 3.0 3.8 2.6 -4.4 FI2.5 -1.4 -0.9 -0.4 0.5 2.8 3.2 1.1 1.3 -2.9 SE3.2 -0.6 1.2 2.7 4.5 2.1 2.6 2.0 2.0 -2.8 Source: European Commission, EurostatGrossdomesticproduct(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 1-year percentage change.Flags:p:Provisional.  
 
 
 
Table 3.25: Gross fixed capital formation (% of GDP)   

69 

2011201220132014201520162017201820192020BE23.0 23.0 22.2 22.8 23.0 23.3 23.3 23.6 24.2 23.9pBG20.8 21.1 21.2 21.1 20.9 18.4 18.3 18.8 18.6 19.2 CZ26.8 26.2 25.4 25.4 26.5 24.9 24.9 26.3 27.1 26.2 DK18.2 18.8 19.1 19.2 19.9 21.0 21.2 21.7 21.3 22.4 DE20.4 20.3 19.9 20.0 20.0 20.3 20.4 21.1p21.4p21.9pEE26.5 28.7 27.9 25.7 24.5 24.4 25.9 24.7 25.4 30.7 IE16.7 19.6 18.6 20.6 24.1 35.8 33.3 28.2 53.6 39.7 EL13.7 11.5 11.2 10.8 10.8 11.0 11.8 11.1 10.6p11.7pES20.0 18.5 17.4 17.8 18.0 18.0 18.7 19.4 20.1p20.3pFR22.4 22.5 22.0 21.8 21.5 21.8 22.5 22.9 23.5p23.0pHR20.0 19.4 19.4 19.0 19.3 19.8 19.7 20.1 21.5 22.3pIT19.7 18.3 17.2 16.7 16.9 17.2 17.5 17.8 17.9 17.8 CY19.0 15.5 14.1 13.3 12.9 18.1 20.9 18.8 18.8 20.0pLV23.0 26.0 24.3 22.8 21.9 19.3 20.6 22.1 23.2 24.5 LT18.5 17.3 18.4 18.9 19.6 19.9 20.1 20.9 21.5 21.1 LU19.2 19.2 18.5 19.2 17.3 17.3 17.8 16.3 17.6 16.8 HU19.5 19.1 20.8 22.0 22.2 19.5 22.1 24.7 27.1 26.8pMT18.2 17.6 16.5 16.7 24.2 24.3 21.7 21.1p21.4p21.7pNL20.1 18.8 18.4 17.6 22.1 20.0 20.1 20.4 21.3 21.3pAT22.5 22.6 23.0 22.7 22.7 23.1 23.6 24.1 25.0 25.2 PL20.7 19.9 18.9 19.8 20.1 18.0 17.5 18.2 18.3 16.6 PT18.4 15.8 14.8 15.0 15.5 15.5 16.8 17.5 18.1 19.1pRO27.2 27.5 24.7 24.4 24.8 22.9 22.4 21.1 22.6 24.6pSI19.9 19.0 19.6 19.1 18.7 17.4 18.3 19.3 19.6 18.9 SK23.3 20.4 20.5 20.5 23.7 21.1 21.2 21.0 21.6 19.6 FI22.6 23.1 22.0 21.5 21.2 22.7 23.3 24.1 23.7 24.2 SE22.9 22.7 22.4 23.2 23.8 24.2 25.1 25.2 24.4 24.8 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. Source: European Commission, Eurostat 
 
 
 
Table 3.26: Gross domestic expenditure on R&D (% of GDP)  

70 

2011201220132014201520162017201820192020BE2.2 2.3 2.3 2.4 2.4 2.5 2.7 2.7e2.9pnaBG0.5 0.6 0.6 0.8 1.0 0.8 0.7 0.8 0.8 0.9pCZ1.5 1.8 1.9 2.0 1.9 1.7 1.8 1.9 1.9p2.0pDK2.9 3.0 3.0 2.9 3.1 3.1 2.9 3.0 2.9p3.0pDE2.8 2.9 2.8 2.9 2.9 2.9 3.1 3.1 3.2e3.1pEE2.3 2.1 1.7 1.4 1.5 1.2 1.3 1.4 1.6p1.8pIE1.6e1.6e1.6e1.5 1.2 1.2 1.2 1.1 0.8 1.2pEL0.7 0.7 0.8 0.8 1.0 1.0 1.2 1.2 1.3p1.5pES1.3 1.3 1.3 1.2 1.2 1.2 1.2 1.2 1.3p1.4pFR2.2 2.2 2.2 2.2 2.3p2.2 2.2p2.2p2.2e2.4pHR0.8 0.8 0.8 0.8 0.8 0.9 0.9 1.0 1.1p1.3pIT1.2 1.3 1.3 1.3e1.3 1.4b1.4 1.4 1.5p1.5pCY0.5 0.4 0.5 0.5 0.5 0.5 0.6 0.6 0.6pnaLV0.7 0.7 0.6 0.7 0.6 0.4 0.5 0.6 0.6p0.7pLT0.9 0.9 1.0 1.0 1.0 0.8 0.9 0.9 1.0 1.2pLU1.5 1.3b1.3 1.3 1.3 1.3 1.3 1.2 1.2pnaHU1.2 1.3 1.4 1.4 1.3 1.2 1.3 1.5b1.5 1.6 MT0.7 0.8 0.7 0.7 0.7 0.6 0.6 0.6 0.6p0.7 NL1.9b1.9b2.2b2.2 2.2 2.2 2.2 2.1 2.2pnaAT2.7 2.9e3.0 3.1e3.1 3.1e3.1 3.1p3.2p3.2pPL0.8 0.9 0.9 0.9 1.0 1.0 1.0 1.2 1.3 1.4pPT1.5 1.4 1.3 1.3 1.2 1.3 1.3 1.4 1.4 1.6pRO0.5b0.5 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.5pSI2.4b2.6 2.6 2.4 2.2 2.0 1.9 2.0 2.0p2.2pSK0.7 0.8 0.8 0.9 1.2 0.8 0.9 0.8 0.8 0.9 FI3.6 3.4 3.3 3.2 2.9 2.7 2.7 2.8 2.8 2.9 SE3.2 3.2e3.3e3.1e3.2 3.3p3.4 3.3 3.4e3.5pFlags:b:Break in series. e:Estimated. p:Provisional. 1) Official transmission deadline for 2020 data on Gross domestic expenditure on R&D is 31 October 2021 while data were extracted on 22 October 2021.Source: European Commission, EurostatResearchandexperimentaldevelopment(R&D)comprisecreativeandsystematicworkundertakeninordertoincreasethestockofknowledge–includingknowledgeofhumankind,cultureandsociety–andtodevisenewapplications of available knowledge (Frascati Manual, 2015 edition, § 2.5 ). The GDP used in the denominator of the MIP indicator comes from the ESA 2010 transmission programme. 
 
 
 
Table 3.27: Current plus capital account - Net lending-borrowing (% of GDP) 

71 

2011201220132014201520162017201820192020BE-2.0 0.6 0.9 0.6 1.4 0.7 0.8 -0.7 0.3 0.8 BG1.5 0.4 2.4 3.5 3.1 5.3 4.3 2.0 3.3 1.3 CZ-1.8 -0.3 1.5 0.9 2.6 2.9 2.4 0.7 0.8 4.8 DK6.9 6.3 7.7 8.7 7.9 7.8 8.1 7.3 8.8 8.1 DE6.2 7.1 6.5 7.3 8.6 8.6 7.7 7.9 7.4 6.8 EE5.4 1.5 2.9 1.8 3.8 2.3 3.2 2.2 4.3 1.9 IE-1.5 -3.3 1.0 -2.4 3.9 -5.8 -8.2 -10.7 -29.8 -6.8 EL-7.5 -2.3 0.3 0.7 0.3 -1.2 -1.4 -2.7 -1.1 -5.0 ES-2.8 0.6 2.6 2.1 2.7 3.4 3.0 2.4 2.4 1.2 FR-0.9 -1.1 -0.5 -1.0 -0.4 -0.4 -0.8 -0.7 -0.2 -1.8 HR-1.7 -1.8 -0.9 0.7 4.0 3.6 4.4 3.1 4.6 2.1 IT-2.8 -0.1 1.1 2.1 1.8 2.4 2.7 2.5 3.1 3.7 CY-1.9 -3.7 -1.0 -3.3 -0.4 -4.1 -4.7 -3.4 -5.6 -10.0 LV-1.2 -0.8 -0.3 1.4 2.2 2.8 2.2 1.6 0.8 4.7 LT-0.3 1.4 4.9 6.2 0.6 0.4 1.8 1.8 5.2 9.1 LU5.6 4.8 4.4 3.9 4.6 4.5 4.4 7.5 4.5 4.0 HU2.9 4.1 7.2 4.8 6.9 4.5 2.8 2.5 1.2 0.5 MT-0.8 1.5 1.8 7.3 5.4 -0.2 6.5 7.3 6.1 -2.3 NL8.7 8.9 9.9 8.4 5.8 7.9 10.8 10.8 9.3 6.9 AT1.5 1.3 1.8 2.4 1.2 2.6 1.3 0.3 2.1 1.8 PL-3.4 -1.8 0.5 -0.1 1.4 0.3 0.9 0.8 2.4 5.2 PT-4.5 0.5 3.3 1.5 1.5 2.1 2.2 1.5 1.3 0.0 RO-4.5 -3.5 1.2 2.4 1.6 0.9 -1.9 -3.4 -3.6 -3.1 SI-1.1 1.4 3.7 5.3 4.9 4.0 5.5 5.5 5.6 6.9 SK-3.7 2.9 3.3 2.1 1.1 -1.0 -1.8 -1.2 -2.6 1.3 FI-1.3 -2.0 -1.7 -1.2 -0.9 -1.9 -0.7 -1.8 -0.2 0.9 SE5.2 5.3 5.0 4.1 3.2 2.3 2.9 2.7 5.5 5.7 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. Definitions are based on the IMF's Sixth Balance of Payments Manual (BPM6). Source: European Commission, Eurostat 
 
 
 
 
Table 3.28: Net international investment position excluding non-defaultable instruments (% of GDP)  

72 

2011201220132014201520162017201820192020BE63.9 58.6 58.5 51.8 51.7 52.2 44.7 34.4 38.8 37.8 BG-1.9 4.2 7.3 10.8 21.4 30.1 32.9 36.4 40.2 47.1 CZ7.7 9.3 14.8 19.0 20.3 27.6 26.5 27.9 30.2 36.9 DK-12.0 -2.7 -3.6 11.4 9.6 15.5 18.6 15.9 28.9 30.0 DE15.5 22.1 29.5 31.7 34.5 37.9 42.9 45.8 51.1 53.2 EE-1.7 3.3 7.4 12.8 16.7 18.1 19.8 24.6 30.9 42.3 IE-238.1 -256.2 -310.7 -351.9 -243.3 -249.3 -264.7 -250.3 -282.8 -292.9 EL-99.2 -124.1 -130.3 -129.7 -128.5 -128.4 -128.9 -135.1 -133.6 -155.2 ES-76.9 -73.7 -69.7 -70.1 -64.8 -61.7 -57.4 -52.7 -46.8 -52.8 FR-23.1 -27.0 -26.9 -31.0 -29.7 -30.4 -33.7 -34.1 -34.8 -41.9 HR-52.4 -50.1 -50.2 -46.3 -39.1 -27.9 -19.8 -13.6 -1.5 -0.3 IT-22.3 -24.6 -23.8 -21.0 -17.0 -11.3 -5.5 -5.4 0.2 1.4 CY-100.8 -104.1 -141.5 -197.6 -258.2 -227.6 -219.6 -181.4 -167.0 -170.4 LV-34.0 -26.0 -22.3 -17.2 -10.9 -6.9 -3.1 0.7 5.9 14.5 LT-21.4 -22.9 -18.6 -16.9 -13.5 -12.6 -6.5 -2.9 5.1 15.2 LU-1891.9 -2328.9 -2546.8 -3277.8 -3679.7 -3639.2 -3837.5 -3596.0 -4076.8 -4095.3 HU-47.2 -41.8 -35.1 -29.5 -18.3 -11.9 -8.7 -3.9 -2.6 -2.4 MT215.4 260.8 216.5 205.7 191.3 213.1 226.4 230.3 234.9 270.2 NL-74.1 -69.6 -66.9 -45.8 -53.5 -34.1 -19.0 -17.0 -1.8 9.2 AT-14.2 -16.0 -11.7 -11.3 -11.3 -9.4 -4.3 -6.2 -1.4 -5.6 PL-25.6 -26.5 -27.2 -26.4 -26.0 -22.9 -20.7 -16.8 -12.5 -6.2 PT-71.6 -82.1 -78.1 -77.7 -72.3 -64.2 -58.4 -55.3 -46.7 -47.0 RO-25.1 -25.1 -20.4 -14.5 -12.9 -6.4 -5.5 -3.9 -4.1 -7.2 SI-35.4 -37.6 -32.8 -28.5 -19.0 -14.7 -9.6 -0.9 1.1 2.0 SK-12.4 -8.6 -10.5 -13.0 -14.0 -14.8 -15.2 -16.6 -14.1 -14.8 FI2.9 -2.2 -4.6 0.1 15.2 10.2 4.8 -0.8 6.8 4.9 SE-18.6 -20.5 -25.6 -22.8 -15.1 -13.7 -10.0 -14.5 -7.8 -4.5 TheindicatorisasubsetoftheNetinternationalinvestmentposition(NIIP)thatabstractsfromitspureequity-relatedcomponents,i.e.foreigndirectinvestment(FDI)equityandequityshares,andfromintra-companycross-borderFDIdebt,andrepresentstheNIIPexcludinginstrumentsthatcannotbesubjecttodefault.TheindicatorisbasedonannualfiguresfromtheEurostatBalanceofPaymentsandisdefinedastheNIIPminusnetdirectinvestment minus net portfolio equity. The indicator is calculated as a percentage of GDP.Source: European Commission, Eurostat 
 
 
 
 
Table 3.29: Foreign direct investment in the reporting economy - flows (% of GDP) 

73 

2011201220132014201520162017201820192020BE31.5 2.4 -5.6 -2.7 -4.3 12.2 -7.2 -7.7 -5.5 -3.6 BG3.7 3.3 3.6 1.9 4.4 2.7 3.3 2.7 3.2 3.9 CZ1.9 4.5 3.5 3.9 0.9 5.5 5.2 3.4 4.3 2.5 DK3.8 -4.9 0.2 2.0 0.6 2.5 1.0 2.5 -1.0 0.4 DE2.6 1.8 1.8 0.5 1.9 1.8 3.0 4.0 1.7 2.9 EE4.9 7.8 4.4 6.6 -3.2 3.8 6.5 4.0 9.8 11.4 IE15.2 25.8 29.6 38.4 82.0 34.8 19.2 19.0 7.1 8.2 EL0.4 0.7 1.2 1.1 0.7 1.4 1.7 1.9 2.4 1.8 ES1.9 1.6 3.5 2.3 1.9 3.6 2.5 4.0 1.8 2.6 FR1.5 1.2 1.1 0.2 1.8 1.3 1.4 2.8 2.1 0.4 HR2.0 2.3 1.7 5.2 0.1 0.8 0.9 2.0 6.3 2.1 IT1.5 0.0 0.9 0.8 0.7 1.4 0.6 2.1 1.5 -1.1 CY146.0 276.8 108.8 222.8 146.0 40.8 63.0 -2.6 162.4 -0.6 LV5.5 3.8 3.3 3.3 3.0 1.2 3.7 1.3 3.2 2.8 LT4.3 1.6 1.7 0.8 2.5 2.7 2.8 2.4 6.3 8.0 LU683.1 980.0 974.2 274.7 960.6 56.8 -94.6 -836.7 -538.6 -214.4 HU10.0 8.2 -2.6 9.5 -4.3 55.2 -8.2 -42.3 60.8 111.5 MT81.0 35.2 5.4 2.7 32.8 23.8 28.6 29.1 27.1 29.4 NL37.1 29.4 37.5 13.0 42.2 29.8 26.4 -39.0 -18.5 -16.7 AT5.4 1.3 0.1 0.4 -2.1 -7.5 3.2 -6.6 -3.0 -4.1 PL3.4 1.5 0.2 3.6 3.2 3.9 2.2 3.0 2.8 2.9 PT4.0 9.9 6.9 5.3 0.6 3.6 4.9 3.2 4.3 2.0 RO1.3 1.8 2.0 1.9 2.4 3.3 2.8 3.0 2.9 1.4 SI1.7 0.1 0.2 2.0 4.0 3.2 2.5 2.9 4.0 0.9 SK5.5 1.8 1.0 -0.4 1.7 5.3 4.4 2.1 2.2 -0.2 FI-2.2 1.9 -1.9 6.4 7.4 2.1 6.9 -3.9 5.8 -0.8 SE1.1 0.8 0.2 -1.7 2.0 2.9 5.2 -0.1 3.2 5.3 Foreigndirectinvestment(FDI)isacategoryofinvestmentthatreflectstheobjectiveofestablishingalastinginterestbyaresidententerpriseinoneeconomy(directinvestor)inanenterprise(directinvestmententerprise)thatisresidentinaneconomyotherthanthatofthedirectinvestor.Thelastinginterestisdeemedtoexistiftheinvestoracquiresatleast10%ofthevotingpowerofthedirectinvestmententerprise.Dataarepresentedaccordingtotheasset/liabilityprinciple,compiledintheframeworkofBalanceofpaymentsandareconsistentwiththecomponentsofNationalaccountsstatistics.InwardFDIflowsrepresentthevalueofFDIliabilitiesfromallcountriesoftheworldinthereportingeconomyinthereferenceperiod.DataareexpressedaspercentageofGDPtoremovetheeffectofdifferencesinthesizeoftheeconomiesofthereportingcountries.DefinitionsarebasedontheIMF'sSixth Balance of Payments Manual (BPM6). Source: European Commission, Eurostat 
 
 
 
 
Table 3.30: Foreign direct investment in the reporting economy - stocks (% of GDP) 

74 

2011201220132014201520162017201820192020BE242.2 244.0 231.9 226.9 225.3 221.9 201.4 187.5 182.1 174.8 BG87.4 89.5 89.2 92.8 92.5 89.4 86.4 84.5 81.2 84.8 CZ69.1 74.2 76.6 76.7 75.3 78.0 77.3 78.9 77.1 81.5 DK43.9 43.6 41.8 49.8 50.0 56.3 53.9 57.8 56.3 58.4 DE35.9 40.0 41.3 41.3 42.2 42.9 43.8 45.3 45.0 49.8 EE89.9 94.3 98.9 103.8 98.0 98.5 95.5 94.4 98.8 113.5 IE312.8 337.1 348.3 388.2 497.7 517.9 479.1 487.7 469.2 428.5 EL12.4 11.7 12.1 11.9 14.8 15.8 18.0 19.4 23.8 23.4 ES55.3 55.4 57.7 60.0 61.2 63.8 64.8 67.6 67.8 78.9 FR40.2 40.5 41.3 42.1 43.9 44.7 44.4 44.6 46.7 50.3 HR50.4 51.8 50.6 56.3 53.7 57.1 57.4 55.5 60.2 65.3 IT21.4 23.0 23.7 25.0 25.5 26.3 26.2 27.6 28.9 30.8 CY1156.6 1436.8 1650.4 1941.5 2131.8 2069.6 1997.0 1822.4 1824.7 1886.4 LV51.3 49.4 54.0 56.6 59.1 57.6 59.5 55.7 56.0 60.0 LT42.5 42.2 42.9 41.4 42.9 44.7 44.2 42.8 48.2 56.2 LU4665.6 5978.7 6123.9 7568.0 9052.3 8972.9 8286.9 7350.1 6782.7 6136.5 HU234.5 225.6 211.0 216.4 219.8 257.0 208.4 161.1 210.0 327.3 MT1999.1 1996.3 1898.1 1789.7 1662.6 1646.7 1529.6 1476.5 1426.9 1602.5 NL472.5 503.2 534.5 558.1 615.5 641.2 640.8 603.6 578.8 567.0 AT72.8 74.7 75.2 77.8 75.4 65.0 71.1 61.4 58.0 57.4 PL47.3 47.9 50.4 51.7 48.1 50.5 49.6 48.1 47.2 48.5 PT58.1 70.8 77.4 81.5 81.0 80.2 83.0 79.6 81.1 87.2 RO41.8 43.5 45.1 44.9 44.4 45.4 44.5 43.7 44.3 46.4 SI28.5 29.6 28.9 31.5 34.4 37.1 37.9 39.2 40.5 42.9 SK65.0 64.1 64.7 62.1 62.7 70.9 71.5 71.1 69.9 70.4 FI50.4 51.7 46.6 52.0 57.3 54.5 56.8 46.6 51.0 50.3 SE90.0 90.1 89.5 83.4 83.9 85.3 88.5 86.2 87.8 92.4 Foreigndirectinvestment(FDI)isthecategoryofinvestmentmadebyanentityresidentinaneconomy(directinvestor)toacquirealastinginterestinanentityoperatinginaneconomyotherthanthatoftheinvestor(directinvestmententerprise).Thelastinginterestisdeemedtoexistiftheinvestoracquiresatleast10%ofthevotingpowerofthedirectinvestmententerprise.Dataarepresentedaccordingtotheasset/liabilityprinciple,compiledintheframeworkofInternationalinvestmentpositionandareconsistentwiththecomponentsofNationalaccountsstatistics.InwardFDIstocksarethevalueofFDIliabilitiesfromallcountriesoftheworldinthereportingeconomyattheendofthereferenceperiod.DataareexpressedaspercentageofGDPtoremovetheeffectofdifferencesinthesizeoftheeconomiesofthereportingcountries.DefinitionsarebasedontheIMF'sSixthBalanceofPayments Manual (BPM6). Source: European Commission, Eurostat 
 
 
 
 
Table 3.31: Net trade balance of energy products (% of GDP)  

75 

2011201220132014201520162017201820192020BE-4.7 -5.0 -4.5 -3.8 -2.7 -2.2 -2.5 -3.4 -2.6 -1.7pBG-6.2 -6.8 -6.2 -5.6 -3.8 -2.4 -3.0 -3.4 -3.0 -2.1 CZ-4.3 -4.6 -4.7 -3.9 -2.4 -2.0 -2.5 -2.9 -2.4 -1.5 DK0.7 0.8 0.3 0.0 0.0 0.0 -0.1 -0.2 -0.4 -0.4 DE-3.6 -3.6 -3.4 -2.8 -2.0 -1.5 -1.7 -2.0p-1.8p-1.3pEE-0.4 -1.3 -2.2 -2.1 -1.5 -1.0 -0.6 -1.0 -1.3 -0.5 IE-3.3 -3.0 -3.2 -2.7 -1.5 -1.1 -1.2 -1.4 -1.2 -0.7 EL-3.6 -4.1 -3.7 -3.4 -2.2 -1.6 -1.8 -2.5 -2.4p-1.8pES-3.8 -3.8 -3.4 -2.9 -2.0 -1.5 -1.8 -2.1 -1.9p-1.3pFR-3.0 -3.3 -3.1 -2.5 -1.8 -1.4 -1.7 -1.9 -1.8p-1.1pHR-5.3 -5.5 -5.0 -4.0 -3.4 -2.6 -2.8 -3.2 -2.8 -2.0pIT-3.6 -3.8 -3.3 -2.6 -2.0 -1.5 -1.9 -2.3 -2.0 -1.3 CY-6.7 -7.6 -6.4 -5.9 -4.0 -3.3 -4.0 -4.1 -3.9 -3.3pLV-5.6 -6.1 -5.6 -4.7 -3.5 -2.4 -2.9 -3.4 -2.7 -1.6 LT-7.6 -7.5 -6.1 -4.7 -3.6 -2.6 -3.0 -4.0 -3.6 -2.4 LU-5.7 -6.0 -5.1 -4.2 -2.9 -2.3 -2.7 -3.3 -3.2 -2.0 HU-6.0 -6.3 -6.3 -6.1 -4.1 -3.1 -3.7 -3.8 -3.8 -2.2pMT-2.8 -11.9 -8.7 -14.4 -8.5 -8.1 -6.1 -8.6 -6.0 -5.5 NL-1.9 -2.6 -1.4 -1.6 -1.1 -0.6 -0.7 -1.4 -0.9 -0.5pAT-3.7 -3.9 -3.5 -3.0 -2.3 -1.9 -2.1 -2.5 -2.2 -1.4 PL-3.3 -3.4 -2.7 -2.6 -1.6 -1.4 -2.0 -2.7 -2.4 -1.6 PT-4.2 -4.7 -3.7 -3.6 -2.3 -1.6 -2.2 -2.5 -2.5 -1.7pRO-2.7 -3.1 -1.9 -1.4 -0.9 -0.9 -1.3 -1.6 -1.7 -1.2pSI-6.2 -6.7 -5.5 -4.1 -3.1 -2.1 -2.6 -2.9 -3.5 -2.0 SK-6.8 -5.7 -6.0 -4.0 -3.0 -2.5 -2.9 -4.0 -3.1 -2.1 FI-3.7 -2.6 -2.6 -2.4 -1.8 -1.4 -1.6 -2.0 -1.7 -0.9 SE-1.8 -1.7 -1.5 -1.3 -0.8 -0.8 -0.9 -1.3 -1.1 -0.8 Source: European Commission, EurostatThetradebalanceofenergyproductsiscalculated,foreachMemberState,asthedifferencebetweenexportstoandimportsfromtherestoftheworld(intra-EUandextra-EUtrade)ofgoodsincludedintheSITCsection3-Mineral fuels, lubricants and related materials.The data source from International trade statistics and is expressed as percentage of GDP (according to ESA 2010 transmission programme).Flags:p:Provisional.  
 
 
 
Table 3.32: Real effective exchange rate - euro area trading partners (3 year % change) 

76 

2011201220132014201520162017201820192020BE1.3 1.9 0.6 -0.1 0.1 1.9 2.6 2.8 1.1 0.4 BG3.9 1.9 -0.4 -3.0 -4.1 -4.8 -3.2 -1.1 1.7 3.0 CZ0.8 5.6 -2.4 -10.1 -8.2 -3.8 5.6 7.6 7.5 3.7 DK1.5 0.7 -1.3 -1.4 -1.5 -0.4 -0.7 -1.8 -2.5 -2.0 DE-1.0 -1.3 -0.7 0.0 1.0 1.0 0.8 0.4 0.3 0.1 EE2.8 5.2 5.3 3.1 1.5 0.2 2.3 4.1 4.4 1.3 IE-6.5 -5.1 -3.1 -1.8 -1.5 -1.1 -2.2 -3.0 -2.9 -2.5 EL4.5 2.0 -3.5 -5.6 -5.3 -3.3 -1.9 -1.5 -2.0 -3.2 ES0.4 0.8 0.4 -0.6 -1.4 -2.3 -1.1 -0.2 0.0 -1.2 FR-0.4 -0.5 -1.4 -0.7 -0.6 0.0 -0.7 -0.1 -0.1 0.6 HR-2.2 -2.6 -2.9 -1.4 -1.2 -1.1 0.6 1.2 0.5 -2.0 IT0.9 1.4 1.0 0.4 -0.7 -0.9 -0.8 -1.3 -1.7 -1.9 CY0.7 2.0 1.0 -0.1 -2.6 -3.5 -3.9 -3.2 -2.5 -3.0 LV0.3 -0.7 0.2 -1.3 -2.2 -0.3 0.7 1.3 2.8 1.5 LT4.8 1.7 1.4 -0.1 -1.6 -0.9 1.4 3.0 3.4 2.1 LU2.0 2.8 1.7 0.8 0.1 -0.4 0.0 0.4 0.9 0.0 HU-2.5 4.6 -3.0 -7.0 -7.3 -5.3 0.4 -0.9 -0.6 -6.5 MT1.9 1.1 0.1 0.7 0.8 1.8 1.2 0.3 0.0 0.7 NL0.0 -0.4 1.3 1.3 0.8 -0.6 -0.7 -0.8 0.9 2.0 AT1.2 1.3 1.6 1.6 2.0 2.1 1.8 1.7 1.1 1.4 PL-9.5 7.3 -3.3 -1.5 -2.1 -5.7 -3.2 -3.0 1.6 -1.0 PT-0.5 0.9 0.1 -1.2 -1.1 0.3 0.8 -0.3 -1.6 -1.9 RO-1.6 3.2 0.7 -1.3 2.2 -2.8 -5.1 -4.1 -1.2 1.0 SI0.4 0.2 0.0 0.4 -0.9 -1.8 -1.6 -0.4 0.4 -0.2 SK4.9 1.9 2.5 0.5 -1.5 -2.2 -1.7 -0.4 1.9 3.8 FI2.2 1.6 1.9 2.0 0.9 0.3 -1.2 -1.4 -1.7 -1.0 SE7.4 19.3 5.9 -3.8 -7.9 -7.9 -4.0 -7.6 -9.7 -7.4 Source: European Commission, Directorate General for Economic and Financial AffairsRealeffectiveexchangerate(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.  
 
 
 
 
Table 3.33: Export performance against advanced economies (5 year % change) 

77 

2011201220132014201520162017201820192020BE-0.6 -8.7 -7.6 -8.3 -13.3 -7.9 -0.3 -3.5 -4.1 11.4 BG19.8 7.0 6.0 11.7 13.5 6.1 17.9 10.5 13.3 16.6 CZ15.8 3.3 -4.3 -0.8 -1.5 -0.4 6.4 8.6 3.2 10.6 DK-7.1 -11.0 -12.8 -11.0 -8.2 -5.8 -0.3 -2.2 1.0 12.0 DE-2.3 -10.0 -7.7 -4.3 -2.8 -1.0 3.7 1.0 -2.9 1.8 EE34.1 15.6 16.7 27.5 7.7 -3.7 -0.1 -2.5 0.2 18.1 IE-3.3 -11.7 -5.1 -9.7 38.3 53.8 67.8 74.5 70.4 50.7 EL-10.7 -20.3 -22.2 -14.7 -13.7 -12.5 -2.4 4.0 1.6 -9.7 ES-1.2 -10.8 -4.8 -6.4 -2.9 -0.2 7.5 2.0 0.8 -6.4 FR-8.9 -11.7 -9.0 -9.6 -3.3 -1.9 0.6 -1.7 -2.1 -6.4 HR-9.1 -19.7 -18.6 -14.7 -5.4 6.2 20.7 19.7 20.2 0.6 IT-12.9 -19.7 -15.6 -10.6 -9.4 -6.9 -1.3 -2.4 -3.9 -2.4 CY-2.0 -12.4 -6.7 -15.5 -4.4 4.7 18.9 19.2 21.0 29.1 LV37.3 17.1 12.4 18.2 13.6 6.0 5.4 6.1 1.7 18.8 LT32.6 34.1 17.9 26.8 6.8 -4.3 1.6 0.7 14.4 39.9 LU6.8 1.5 13.8 15.5 18.5 22.2 21.4 11.7 8.8 21.2 HU3.1 -16.9 -18.1 -12.0 -9.0 -5.1 8.2 5.9 3.4 8.7 MT26.8 21.3 5.5 -7.4 9.5 14.4 21.8 16.4 18.6 13.7 NL-1.2 -5.7 -5.9 -6.2 -6.4 -5.9 -0.6 -0.7 -1.8 7.9 AT-5.7 -15.4 -13.4 -10.9 -8.8 -5.8 0.4 0.5 -0.8 5.7 PL23.8 9.0 4.7 9.6 9.1 14.3 26.0 23.6 22.7 37.6 PT-2.9 -10.6 -2.5 -1.9 1.2 2.1 11.8 6.1 6.6 -0.4 RO61.1 21.4 21.1 28.1 21.9 21.0 35.5 20.7 15.6 21.2 SI1.7 -14.4 -13.3 -8.0 -4.5 0.3 15.6 16.9 14.0 20.8 SK4.8 -3.0 1.8 7.8 4.4 4.1 3.0 -0.2 -0.3 8.6 FI-17.6 -26.9 -28.3 -23.1 -22.8 -18.3 -7.0 -6.2 1.5 12.8 SE-5.4 -13.0 -11.6 -4.7 -10.0 -12.1 -7.5 -8.8 -4.4 5.0 Source: European Commission, Eurostat and OECDTheindicatorshowsdevelopmentsinsharesofexportsofgoodsandservicesofEUMemberStatesinrelationtototalexportsofgoodsandservicesofOECDcountries.Tocapturethestructurallossesincompetitivenessthatcan accumulate over longer time periods, the indicator is calculated as the 5-year percentage change. 
 
 
 
 
Table 3.34: Terms of trade (5 year % change) 

78 

2011201220132014201520162017201820192020BE-2.7 -2.8 0.2 -2.5 0.3 2.6 2.1 0.9 1.3 0.8pBG11.5 5.9 4.2 3.0 3.6 3.1 5.7 7.5 8.9 12.7 CZ-1.7 -3.3 -1.0 -1.6 0.8 3.4 3.0 1.9 0.9 2.2 DK2.0 3.1 2.4 3.7 1.6 3.4 2.8 1.0 -0.7 1.2 DE-1.7 -2.3 0.4 -2.6 1.9 6.4 5.7 3.8p3.2p2.9pEE1.0 -1.5 -0.7 0.4 2.9 3.7 4.1 2.9 1.0 1.4 IE-1.3 -3.6 -4.8 -5.3 1.9 -0.3 -0.1 -1.3 2.0 -3.0 EL0.6 -1.6 1.2 3.7 4.5 7.3 8.3 4.3 1.9p-3.1pES-2.7 -4.6 -1.6 -6.7 -3.6 0.4 1.0 -1.0 -0.8p0.9pFR-0.7 -2.1 -0.4 -1.7 2.8 6.4 5.3 2.9 2.6p0.0pHR4.8 2.9 1.4 0.7 0.5 1.5 2.4 3.2 3.7 1.5pIT-2.3 -4.8 -0.8 -3.8 2.5 8.6 8.6 6.2 4.4 5.9 CY-1.7 -2.1 -0.6 -0.8 1.4 3.9 3.2 2.6 1.7 -0.8pLV6.5 -1.1 1.2 0.1 0.5 0.4 3.8 5.1 6.9 9.3 LT0.2 -1.5 -5.2 -0.5 1.4 4.0 4.9 3.7 3.8 2.8 LU4.2 5.7 3.0 2.3 1.3 0.5 -0.2 -0.7 -2.4 -0.5 HU-1.1 -2.4 -1.1 -1.2 -0.5 1.5 2.1 0.6 0.3 1.4pMT0.6 -0.2 0.3 1.2 2.0 3.1 4.0 4.1 3.7 2.4 NL-2.9 -2.6 -2.0 -3.0 -0.1 2.0 1.8 1.3 1.9 1.8pAT-3.1 -3.2 -1.9 -2.7 0.4 3.2 2.5 2.1 0.5 -0.2 PL0.3 -2.6 -0.1 -1.4 2.8 4.9 6.5 4.3 3.6 3.5 PT-0.4 -0.2 3.9 0.1 4.7 8.4 6.9 4.5 4.3 2.2pRO17.6 4.6 2.7 3.7 5.7 3.6 5.1 5.2 4.8 5.4pSI-2.4 -4.3 -2.3 -4.6 0.6 2.9 3.4 2.5 2.0 1.4 SK-5.9 -6.0 -4.8 -3.7 -3.2 -2.3 -1.6 -1.7 -2.0 -2.2 FI-4.3 -5.3 -2.7 -3.2 1.9 3.2 3.8 3.8 2.4 0.1 SE1.1 -0.3 0.2 -0.8 0.3 1.3 0.4 -1.1 -0.8 -0.8 Source: European Commission, EurostatAcountry’stermsoftrademeasuresacountry'sexportpricesinrelationtoitsimportprices.Theindicatormeasuresthecountry'stradecompetitiveness,asitindicateshowmuchimportsaneconomycangetforaunitofexportofgoodsandservices.Itiscalculatedastheratioofthepriceindexforexportsofgoodsandservicestothepriceindexforimportsofgoodsandservices.Theseareobtainedbydividingcurrentpricesbychain-linkedvolumesusing the standard reference year 2010. Data are expressed as 5-year percentage change. Data source: National accounts statistics.Flags:p:Provisional.  
 
 
 
 
Table 3.35: Export market share, volume (1 year % change) 

79 

2011201220132014201520162017201820192020BE-2.3 -3.7 -3.2 1.6 0.6 3.9 0.1 -3.1 1.1 2.4pBG5.7 -1.2 6.0 -0.5 3.3 6.3 0.4 -2.0 3.1 -4.2 CZ2.3 1.1 -3.3 5.1 2.9 2.0 1.8 0.0 0.6 1.0 DK0.3 -2.0 -2.0 -0.5 0.5 1.8 -0.6 -0.3 4.1 0.9 DE1.4 -0.3 -2.6 1.2 2.3 0.2 -0.5 -1.4p0.2p-1.4pEE17.3 1.6 -0.8 -1.0 -4.6 2.5 -0.6 0.2 5.6 2.9 IE-3.8 -4.0 -0.6 11.0 36.1 2.3 4.2 7.8 9.5 17.4 EL-6.3 -1.2 -1.8 4.6 1.9 -2.7 3.1 5.4 4.0p-13.6pES1.3 -2.3 0.8 0.9 1.2 3.1 0.1 -2.0 1.6p-12.2pFR-0.5 -0.4 -1.5 -0.3 1.5 -0.5 -1.0 0.8 0.7p-7.9pHR-4.6 -4.7 -1.1 3.8 7.2 4.7 1.5 0.0 5.9 -14.8pIT-1.5 -1.2 -3.2 -1.0 1.2 -0.4 0.0 -1.6 0.7 -6.1 CY0.1 -3.7 -2.4 2.6 5.8 4.8 5.8 3.6 6.6 2.8pLV5.7 6.3 -2.9 2.6 -0.1 1.6 1.0 0.8 1.2 5.7 LT7.6 7.6 3.7 -5.4 -0.7 2.6 8.1 3.1 9.0 8.3 LU-2.5 -1.6 2.7 2.9 2.0 3.0 -5.6 -0.1 4.9 9.2 HU-0.5 -4.9 0.5 5.6 4.3 1.5 1.1 1.3 4.5 2.0pMT-1.6 2.3 -2.7 -0.1 12.3 -0.7 5.4 -3.8 4.9 1.6 NL-1.7 0.1 -1.1 0.9 4.3 -0.6 1.1 0.6 1.1 3.1pAT-1.0 -1.8 -3.0 -0.7 -0.1 0.7 -0.5 1.4 2.5 -2.9 PL0.8 1.1 1.9 3.1 4.9 7.0 4.2 3.2 4.3 8.0 PT0.0 -0.1 3.6 0.7 3.2 2.1 3.0 0.4 3.2 -10.7pRO5.2 -2.1 17.0 4.9 1.5 14.0 2.4 1.6 4.5 -1.8pSI0.0 -2.7 -0.5 2.4 1.6 3.9 5.7 2.5 3.6 -0.8 SK3.7 5.9 2.4 0.1 3.5 2.7 -1.7 1.4 -0.1 0.6 FI-4.9 -3.0 -3.0 -5.6 -2.7 1.6 3.4 -2.2 5.9 1.1 SE-0.2 -2.1 -4.7 0.8 2.7 0.1 -1.3 0.5 5.1 3.3 Source: European Commission, Eurostat, and International Monetary Fund data, WEO (for world volume exports of goods and services) Theindicatoriscalculatedbysubtractingtheworldexportsvolumegrowthratefromthecountryexportsvolumegrowthrate.Eurostat'sNationalaccountsvolumesforexports(asforalltransactionsconcerninggoodsandservices)areestimatedinpreviousyearpricestoeliminatetheinfluenceofinflation.ThevolumegrowthrateisalwayscalculatedbycomparingtheyearYvolumeinpreviousyearpriceswiththeyearY-1figureincurrentprices.TheMIPindicatorisexpressedaspercentagechangecomparingyearYwithyearY-1.Country'sexportsofgoodsandservicesseriesarebasedonEurostatdata,whileworldexportsofgoodsandservicesonIMFdata,WorldEconomic Outlook (WEO).Flags:p:Provisional.  
 
 
 
 
Table 3.36: Real labour productivity (1 year % change)  

80 

2011201220132014201520162017201820192020BE0.4 0.3 0.8 1.2 1.2 0.0 0.1 0.3 0.5 -5.6pBG4.4 3.3 -0.1 0.6 3.1 2.5 1.0 2.8 3.7 -2.1 CZ2.0 -1.2 -0.4 1.7 3.9 0.9 3.6 1.8 2.8 -4.2 DK1.4 0.9 0.9 0.7 1.0 1.5 1.3 0.5 0.8 -1.4 DE2.7 -0.7 -0.3 1.3 0.5 1.0 1.3 -0.3p0.1p-3.8pEE0.7 1.6 0.2 2.2 -1.0 2.9 3.0 3.2 2.8 -0.3 IE3.3 0.5 -1.6 5.9 20.8 -1.6 5.8 5.7 2.0 7.5 EL-6.1 -3.2 -1.9 -3.0 2.8 -3.8 1.6 -2.8 0.9p-7.9pES1.8 1.1 1.0 0.3 1.0 0.9 0.3 0.1 -0.7p-7.0pFR1.4 0.0 0.4 0.4 0.9 0.5 1.1 0.9 0.6p-7.0pHR4.0p1.4p2.5p-2.9p1.3p3.3p0.9p0.3p0.4p-7.0pIT0.4 -2.7 -0.1 -0.1 0.1 -0.1 0.5 0.0 -0.1 -7.0 CY0.1 0.1 -1.0 0.2 1.8 1.7 0.4 0.3 1.4 -4.7pLV1.0 5.5 -0.3 3.3 2.4 2.7 3.3 2.5 2.6 -1.3 LT5.5 1.9 2.2 1.5 0.6 0.2 5.0 2.6 4.0 1.5 LU-1.9 -0.8 1.3 0.1 -0.3 1.9 -2.1 -1.6 -0.2 -3.6 HU1.9 -2.2 0.5 -0.3 1.4 -1.5 2.3 3.0 3.4 -3.7pMT-2.4 1.3 0.9 1.5 5.6 -0.7 2.8 0.1 0.0 -10.7 NL0.7 -0.8 1.1 1.5 1.0 0.6 0.5 -0.4 0.0p-3.3pAT1.3 -0.4 -0.3 -0.3 0.4 0.7 0.6 0.8 0.3 -5.2 PL4.2 1.2 1.2 1.6 2.7 2.3 3.4 4.8 4.8 -2.4pPT0.3 0.0 2.0 -0.6 0.4 0.4 0.2 0.5 1.9 -6.7pRO4.3 0.6 4.7 2.8 4.3 5.9 4.8 4.4 4.1 -2.2pSI2.6 -1.7 0.1 2.3 0.9 1.3 1.9 1.2 0.8 -3.7 SK0.8 1.3 1.4 1.3 3.2 -0.4 0.8 1.8 1.5 -2.5 FI0.9 -2.2 -0.1 0.1 0.6 2.3 2.1 -1.3 -0.4 -0.8 SE0.9 -1.3 0.2 1.2 3.0 0.2 0.1 0.3 1.4 -1.5 Source: European Commission, EurostatThelabourproductivityistheratioofGrossdomesticproduct(marketpricesinmillions,chain-linkedvolumesreferenceyear2010)tothetotalEmployment(domesticconcept).The'personsemployed'doesnotdistinguishbetweenfull-timeandpart-timeemployment.TheGDPperpersonemployedisintendedtogiveanoverallimpressionoftheproductivityofnationaleconomies.TheinputdataareobtainedthroughofficialNationalaccounts'country data in the ESA 2010 transmission programme. The MIP indicator is expressed as 1-year percentage change. Flags:p:Provisional.  
 
 
 
Table 3.37: Gross non-performing loans, domestic and foreign entities (% of gross loans)  

81 

2011201220132014201520162017201820192020BEnanana4.3e3.8e3.2e2.7e2.3e2.1e2.1pBGnanana16.0e14.5e12.8e10.2e7.7e6.5e5.9pCZnanananana4.0e2.8e2.1e1.7e1.9pDKnanana5.1e3.9e3.3e2.5e2.3e1.9e1.9pDEnanana3.9e3.0e2.6e1.8e1.4e1.2e1.2pEEnanana3.2e2.2e1.7e1.9e1.3e1.6e1.6pIEnanana21.6e14.9e13.1e9.9e5.5e3.4e3.4pELnanana39.7e46.8e46.3e45.0e41.6e35.5e26.4pESnanana8.1e6.3e5.7e4.4e3.7e3.1e2.8pFRnanana4.2e4.0e3.6e3.1e2.7e2.5e2.2pHRnanana13.6e13.0e10.7e8.8e7.3e5.2e5.3pITnanana16.5e16.5e15.0e11.2e8.4e6.7e4.5pCYnanana38.6e36.3e35.4e30.7e20.2e18.1e11.0pLVnanana9.7e6.5e6.3e5.6e5.3e3.9e4.6pLTnanana6.8e5.6e4.0e3.2e2.6e1.7e2.2pLUnanana1.4e1.1e0.8e0.7e0.8e0.6e0.7pHUnanana19.4e15.2e11.9e8.4e5.4e4.2e3.6pMTnanana6.0e5.1e4.1e3.1e3.1e3.2e3.6pNLnanana3.4e2.7e2.4e2.1e1.9e1.8e1.9pATnanana7.5e6.5e5.1e3.5e2.6e2.2e2.0pPLnanana7.2e6.6e6.4e6.6e6.2e6.1e6.0pPTnanana16.6e17.5e17.2e13.3e9.4e6.1e4.9pROnanana20.7e13.4e9.7e6.6e5.0e4.3e3.9pSInanana22.8e17.9e12.3e9.2e6.0e3.4e3.0pSKnanana5.2e4.4e4.6e3.7e3.2e2.9e2.5pFInanana1.6e1.5e1.4e1.2e1.5e1.4e1.5pSEnanana1.3e1.3e1.2e1.3e1.0e1.1e1.0pAloan,otherthanheldfortrading,isconsideredasnon-performingifitsatisfieseitherorbothofthefollowingcriteria:(a)Itisamaterialloanwhichismorethan90dayspast-due;(b)Thedebtorisassessedasunlikelytopayitscreditobligationsinfullwithoutrealisationofcollateral,regardlessoftheexistenceofanypast-dueamountorofthenumberofdayspast-due.Non-performingloansincludedefaultedandimpairedloans.TheMIPindicatorisdefinedastotalgrossnon-performingloansandadvancesaspercentageoftotalgrossloansandadvances(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. Source: European Central Bank 
 
 
 
Table 3.38: Unit labour cost performance relative to EA (10 year % change) 

82 

2011201220132014201520162017201820192020BE0.7 1.1 2.9 3.3 1.9 0.0 0.8 -1.2 0.4 0.5 BG34.9 42.1 53.2 56.2 54.3 53.4 53.9 47.8 42.9 39.2 CZ7.5 3.5 1.1 -1.1 -1.2 0.4 1.2 4.8 9.4 10.9 DK8.1 5.4 4.5 5.2 4.0 1.5 -2.7 -5.2 -7.4 -8.1 DE-12.8 -9.7 -7.3 -4.5 0.5 5.1 8.4 11.7 10.6 11.2 EE41.7 42.0 42.3 41.1 44.9 32.2 23.9 16.3 21.6 23.4 IE-4.0 -4.0 -7.1 -13.2 -29.7 -29.7 -34.6 -40.1 -35.4 -35.4 EL23.2 12.4 3.6 0.4 -9.9 -9.2 -11.3 -13.0 -16.3 -13.7 ES6.9 1.5 -0.4 -3.7 -5.7 -10.0 -12.3 -15.3 -12.0 -11.2 FR2.0 1.7 2.1 2.2 1.1 -0.1 -0.3 -0.2 -2.0 -3.6 HR10.8 4.0 -2.5 -5.9 -7.7 -11.5 -14.5 -13.9 -16.0 -11.9 IT12.6 10.4 6.6 3.9 3.5 0.7 -1.1 -1.7 -2.9 -7.5 CY14.0 14.1 3.0 -1.5 -7.3 -11.2 -9.8 -9.5 -12.1 -15.0 LV46.9 54.7 57.4 56.8 43.4 30.2 7.6 -3.5 16.9 27.8 LT9.8 9.3 12.6 11.4 11.2 6.2 8.3 7.5 16.7 26.5 LU15.3 17.2 16.9 15.8 12.9 8.8 13.9 10.3 8.3 6.6 HU25.0 23.6 14.5 9.1 6.3 7.6 6.9 7.0 11.2 14.4 MT5.3 6.9 6.0 3.6 5.0 7.2 7.4 11.1 13.3 20.7 NL3.4 1.2 0.0 -0.1 -0.4 0.1 -1.7 -1.4 -1.3 3.0 AT-1.2 1.3 3.3 5.4 6.1 5.7 5.6 5.3 5.4 5.5 PL-7.7 -3.4 0.5 2.4 1.4 4.0 3.4 0.4 5.2 4.9 PT-3.6 -8.5 -8.8 -10.1 -12.0 -11.2 -9.2 -6.4 -5.7 -1.0 RO72.0 79.1 45.9 48.0 20.5 23.4 33.9 19.5 32.7 23.5 SI17.9 11.4 7.9 2.9 2.1 2.2 1.2 -0.6 -2.0 -0.5 SK9.6 5.5 3.9 1.8 -0.9 -0.7 3.8 5.3 6.9 10.1 FI2.3 6.2 8.4 9.2 8.4 5.4 2.6 1.2 -2.9 -5.5 SE-1.5 1.7 3.6 5.4 5.3 7.4 5.7 5.9 6.2 7.4 Source: European Commission, Directorate General for Economic and Financial AffairsTherelativeunitlabourcost(ULC)seriesmeasuresthetradingpositionofanindividualcountryrelativetoitspartnersintheeuroareaandassuchoffersanindicationaboutchangesinitscompetitiveposition.Themeasuretakesintoaccountnotonlychangesinmarketexchangerates,butalsovariationsinrelativepricelevelsbasedontheunitlabourcostandthereforecanbeusedasindicatorofcompetitiveness.Thedataareexpressedas10-year % change. 
 
 
 
Table 3.39: House price index (2015=100) - nominal (3 year % change) 

83 

2011201220132014201520162017201820192020BE6.8 9.7 7.6 2.9 2.3 3.8 8.2 9.4 10.9 11.5 BG-32.4e-16.7e-9.3 -2.7 2.0b11.6 19.5 24.0 22.8 18.2pCZ-5.5 -3.1 -1.4 0.9 6.5 14.2 24.4 30.0 32.4 28.6 DK-11.0 -1.7 -0.6 4.9 15.3 16.8 17.7 14.8 11.7 12.3 DE5.5 8.2 10.4 10.0 11.4 16.1 19.5 21.7 19.7 21.6 EE-28.0 23.0 28.8 35.0 34.5 27.3 18.1 17.1 19.6 20.2 IE-42.0 -37.9 -27.3 2.1 31.5 39.6 32.8 31.3 25.1 13.2 EL-13.2e-20.4e-25.5e-27.1e-21.7e-14.2e-8.3e-1.6e8.1e14.0eES-15.3 -22.7 -28.5 -22.3 -5.6 8.7 15.1 18.6 19.2 14.8 FR3.9 10.0 3.2 -3.9 -4.7 -1.8 2.8 7.3 9.7 11.9 HR-10.9 -7.6 -5.3 -6.9 -8.2 -3.6 1.7 11.1 20.0 24.5 IT1.6e-0.5e-7.6 -13.1 -14.3 -8.1 -4.6 -1.4 -1.8 1.2 CY-13.3 -10.1 -8.5 -8.7 -7.1b-2.9 1.0 4.3 7.9 5.3pLV-38.4 1.2 21.5 16.6 9.5 11.1 14.0 29.3 29.9 23.5 LT-30.8 -1.5 7.7 7.5 11.7 16.3 19.0 23.2 24.9 23.0 LU8.0 13.9 13.4 14.2 15.5 16.6 18.0 19.9 24.5 35.0 HU-10.7 -9.2 -9.4 -2.2 14.8 33.6 43.9 45.5 50.1 40.4pMT-4.6 2.7 1.2 5.2 8.1 14.4 17.5 17.5 18.2 16.1pNL-8.0 -10.1 -14.0 -11.6 -1.8 9.7 17.0 23.6 26.3 26.4pAT17.3e21.1e19.9 16.8 14.2 17.8 19.9 19.6 16.6 19.3 PL-6.4e-7.0e-7.6 -6.8 -2.0 4.4 7.4 12.7 20.3 28.0pPT-5.1 -11.0 -13.3 -4.9 5.4 15.1 20.6 29.0 32.1 31.1 RO-38.2e-23.0 -17.0 -7.3 0.5 6.7 15.6 18.6 15.8 14.3 SI-6.9 -4.2 -9.4 -17.6 -10.8 -2.8 12.7 21.6 25.6 21.4 SK-17.5 -8.0 -3.3 -0.4 7.8 14.0 19.0 21.3 24.1 28.4 FI11.3 12.3 6.9 3.2 0.8b0.5 2.4 3.4 3.7 3.9 SE14.1 12.0 9.2 16.5 30.2 34.0 30.6 14.4 8.3 5.8 TheHousepriceindex(HPI)capturespricechangesofallresidentialpropertiespurchasedbyhouseholds(flats,detachedhouses,terracedhouses,etc.),bothnewandexisting,independentlyoftheirfinaluseandtheirpreviousowners. Only market prices are considered, self-build dwellings are therefore excluded. The land component is included. The data are expressed as 3-year % change of the HPI. The indicator is based on Price statistics.Flags:b:Break in series. e:Estimated. p:Provisional. 1)e=EurostatestimatesforPL;e=NSIestimatesforBGandRO;e=sourceNCBforEL,ITandAT;b=breakintimeseriesduetofullimplementationofharmonisedEUmethodologyforBGandCY;b=breakintimeseriesduetonewcalculationmethodforNew dwellings (apartments) for FI.Source: European Commission, Eurostat 
 
 
 
 
Table 3.40: Residential construction (% of GDP) 

84 

2011201220132014201520162017201820192020BE5.8 5.9 5.7 5.9 5.7 5.7 5.7 5.9 6.1 6.2pBG2.2 1.7 1.7 1.6 1.4 2.7 2.8 2.7 2.8 2.9 CZ4.2 4.1 3.8 3.8 3.8 3.8 4.2 4.3 4.4 4.8 DK4.3 4.1 3.7 3.9 4.0 4.2 4.6 4.8 5.0 5.5 DE5.6 5.9 5.9 5.9 5.8 6.0 6.0 6.2p6.4p7.0pEE2.7 2.9 3.4 3.8 4.0 4.4 4.6 4.5 4.9 5.5 IE2.0 1.5 1.6 1.8 1.5 1.8 2.1 2.3 2.3 2.1 EL4.9 3.3 2.3 1.1 0.8 0.7 0.6 0.7 0.9p1.1pES5.4 4.6 3.9 4.2 4.0 4.4 4.8 5.4 5.9p6.0pFR6.4 6.2 6.1 6.0 5.9 6.0 6.3 6.3 6.5p6.1pHRnanananananananananaIT5.2 4.9 4.7 4.3 4.1 4.1 4.0 4.1 4.0 4.1 CY6.2 4.9 4.1 3.9 3.6 4.4 5.0 6.5 7.6 7.6pLV2.0 2.4 2.2 2.5 2.4 2.0 2.1 2.5 2.7 3.0 LT2.0 1.9 2.2 2.5 2.8 3.0 2.7 2.7 3.0 3.2 LU2.8 2.9 3.4 3.6 3.8 4.1 3.6 3.7 4.0 3.7 HU2.2 2.0 1.8 1.9 2.2 2.4 2.7 3.0 3.2 4.1pMT3.7 2.8 2.6 2.5 2.9 3.6 4.3 4.8p4.6p3.9pNL4.2 3.5 3.0 3.1 3.5 4.1 4.5 4.9 5.1 5.3pAT4.4 4.3 4.3 4.3 4.3 4.3 4.5 4.5 4.7 5.1 PL3.0 3.2 3.0 3.1 2.5 2.4 2.2 1.9 1.9 2.0 PT3.3 3.0 2.5 2.5 2.4 2.6 2.8 3.1 3.2 3.4pRO2.7 3.1 2.4 2.4 2.4 2.6 2.7 2.0 2.2 2.6pSI2.8 2.5 2.4 2.2 2.1 2.1 2.1 2.1 2.2 2.3 SK2.8 2.9 3.2 2.7 2.5 3.1 3.1 3.3 3.3 3.9 FI6.6 6.7 6.4 6.0 6.0 6.6 6.8 7.2 7.0 7.1 SE4.0 3.5 3.6 4.2 4.7 5.3 5.7 5.2 4.7 5.0 ResidentialConstructiontrackstheactualconstruction(notsales)ofhousingandispartofGrossfixedcapitalformation.GFCFconsistsofresidentproducers'acquisitions,lessdisposals,offixedassetsduringagivenperiodpluscertainadditionstothevalueofnon-producedassetsrealisedbytheproductiveactivityofproducerorinstitutionalunits.DatasourcefromNationalaccountsstatistics,usingasadenominatorGDPfromtheESA2010transmission programme. Flags:p:Provisional. Source: European Commission, Eurostat 
 
 
 
 
Table 3.41: Household debt, consolidated (incl. Non-profit institutions serving households, % of GDP)   

85 

2011201220132014201520162017201820192020BE54.8 55.1 55.7 57.5 57.9 58.2 58.9 58.9 60.6 66.4 BG26.5 25.5 25.6 25.2 23.3 22.7 22.6 23.0 23.1 24.7 CZ29.8 30.7 31.4 30.2 30.2 31.1 31.5 31.8 31.6 34.0 DK138.4 136.3 133.3 131.5 128.9 116.4 113.8 111.9 110.2 111.7 DE57.1 56.6 55.7 54.2 53.6 53.3 52.9 52.6 53.4 57.7 EE45.6 42.0 40.1 38.9 39.8 40.0 39.4 38.7 38.6 41.8 IE104.2 98.3 93.3 81.0 56.5 52.4 46.8 43.0 38.7 35.9 EL65.5 66.3 66.4 64.4 62.8 61.3 58.2 58.7 56.0 59.5 ES82.5 81.6 77.8 73.4 68.0 64.5 61.2 59.0 56.9 62.5 FR54.8 55.1 55.6 55.6 56.1 57.1 58.4 60.4 62.1 68.7pHR41.3 41.1 40.2 40.1 38.4 35.1 34.0 33.9 34.6 38.3 IT43.5 43.7 43.3 42.6 41.8 41.2 40.8 40.8 41.1 45.1 CY121.9 127.9 129.6 131.4 126.8 116.2 105.3 96.4 86.0 91.0 LV40.0 32.7 29.2 26.4 24.3 23.4 22.3 21.0 20.2 20.9 LT25.8 23.6 22.3 21.5 22.3 22.8 22.4 22.6 23.0 24.6 LU56.2 57.9 57.0 58.5 59.0 60.5 62.5 65.4 66.8 69.2 HU37.4 31.7 28.2 25.6 21.1 20.1 18.6 17.7 18.4 20.9 MT59.3 58.9 57.1 54.8 50.7 50.1 47.3 46.9 47.6 54.0 NL118.0 117.9 115.1 113.2 111.3 109.6 106.8 103.4 99.6p103.0pAT53.2 52.0 51.2 51.0 50.8 51.1 50.3 49.7 49.6 53.2 PL35.2 34.2 35.3 35.8 36.0 36.6 34.9 35.0 34.4 34.8 PT90.5 90.5 86.1 81.9 77.0 72.6 69.2 66.0 63.5 69.5 RO21.8 20.7 19.2 18.0 17.4 16.7 16.1 15.8 15.5 16.2 SI29.9 30.7 29.6 28.3 27.6 27.3 27.1 26.9 26.9 27.8 SK26.1 28.2 29.7 32.5 34.4 38.4 41.0 42.4 43.6 47.2 FI59.0 61.0 61.5 62.5 63.3 64.1 64.4 65.2 65.7 69.6 SE76.5 79.3 81.2 82.1 82.4 85.7 87.2 88.1 88.5 94.7 Source: European Commission, EurostatTheHouseholddebtisthestockofliabilitiesheldbythesectorHouseholdsandNon-profitinstitutionsservinghouseholds(S.14_S.15).TheinstrumentsthataretakenintoaccounttocompilesuchindicatorareDebtsecurities(F.3)andLoans(F.4).Dataarepresentedinconsolidatedterms,i.e.nottakingintoaccounttransactionswithinthesamesector,andareexpressedinpercentageofGDPandmillionsofnationalcurrency.Definitionsregardingsector and instruments are based on ESA 2010. Flags:p:Provisional.  
 
 
 
Table 3.42: Consolidated banking leverage, domestic and foreign entities (asset-to-equity multiple) 

86 

2011201220132014201520162017201820192020BE21.7e17.4e15.7e15.1e14.7e14.2e13.2e13.1e13.4e14.2pBG7.4e7.6e7.8e7.9e7.7e7.7e7.7e7.5e8.2e7.9pCZ11.8e10.4e10.8e10.0e10.1e10.7e12.4e12.5e12.1e12.1pDK21.1e20.3e18.4e18.4e16.7e16.7e16.4e16.4e16.7e17.4pDE25.7e23.5e20.3e19.2e18.6e18.4e14.1e13.9e13.7e14.4pEE8.1e7.1e6.8e6.6e7.7e7.7e6.8e6.9e7.5e8.8pIE17.7e15.8e15.0e9.1e7.8e7.4e6.6e6.7e7.4e8.8pELna26.6e14.0e12.8e11.0e10.1e8.8e11.5e10.9e13.8pES17.4e17.9e14.9e14.0e13.7e13.2e13.5e13.6e13.5e15.8pFR21.1e20.1e18.1e18.9e17.3e16.0e15.2e15.3e15.1e16.2pHRnana7.5e7.2e8.0e7.2e7.4e7.5e7.5e7.6pIT14.9e14.4e15.0e14.0e13.1e14.2e12.2e13.1e12.9e13.9pCY19.9e26.0e16.2e10.3e10.7e10.7e12.1e14.1e12.8e13.6pLV10.7e10.2e9.9e10.2e9.5e9.9e8.9e7.8e9.8e10.0pLT11.3e10.2e9.6e9.7e9.0e11.6e10.7e10.4e14.5e15.5pLU17.7e15.1e13.9e13.4e13.4e13.4e13.2e14.6e15.0e14.3pHU13.5e11.5e10.7e10.9e11.2e9.9e9.7e9.4e9.5e10.8pMT5.1e5.0e6.6e11.9e14.1e15.8e13.5e12.2e11.2e10.7pNL24.2e22.3e20.8e18.5e18.0e17.7e16.7e16.1e16.1e16.7pAT14.7e13.5e13.4e14.2e13.5e12.5e11.6e11.4e11.2e11.9pPL9.9e9.1e9.0e9.3e9.2e9.4e8.8e9.3e9.7e10.5pPT19.6e15.5e14.8e13.7e12.4e12.9e10.6e11.0e10.8e11.4pRO10.0e9.7e9.7e10.5e9.8e9.8e9.6e9.3e9.1e9.1pSI13.3e12.9e11.3e9.3e8.6e8.0e8.0e8.2e8.2e9.3pSK9.4e8.5e8.2e8.4e9.0e9.2e9.3e9.5e9.6e9.7pFI26.1e26.3e21.7e24.3e19.1e17.7e18.9e16.1e16.6e16.0pSE24.1e22.1e21.3e20.6e18.8e17.6e16.5e18.1e17.9e17.6pSource: European Central BankTheindicator,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.  
 
 
 
 
Table 3.43: Employment (1 year % change) 

87 

2011201220132014201520162017201820192020BE1.3 0.4 -0.3 0.4 0.9 1.3 1.6 1.5 1.6 0.0pBG-2.2 -2.5 -0.4 0.4 0.4 0.5 1.8 -0.1 0.3 -2.3 CZ-0.3 0.4 0.3 0.6 1.4 1.6 1.5 1.3 0.2 -1.7 DK0.0 -0.7 0.0 0.9 1.4 1.7 1.5 1.5 1.4 -0.7 DE1.2 1.1 0.8 0.9 0.9 1.2 1.4 1.4p0.9p-0.8pEE6.5 1.6 1.2 0.8 2.9 0.3 2.7 0.9 1.3 -2.7 IE-2.2 -0.5 2.9 2.7 3.6 3.7 3.0 3.2 2.9 -1.5 EL-4.3 -4.0 -0.6 3.6 -2.9 3.4 -0.5 4.6 0.9p-1.2pES-2.5 -4.0 -2.4 1.0 2.8 2.1 2.6 2.2 2.8p-4.1pFR0.8 0.3 0.2 0.5 0.2 0.6 1.1 1.0 1.2p-0.9pHR-4.0p-3.6p-2.8p2.6p1.3p0.2p2.4p2.6p3.1p-1.2pIT0.3 -0.3 -1.8 0.1 0.7 1.4 1.2 0.9 0.5 -2.1 CY0.3 -3.5 -5.6 -2.0 1.6 4.7 5.4 5.3 3.8 -0.6pLV1.5 1.4 2.3 -1.3 1.4 -0.3 0.0 1.5 -0.1 -2.3 LT0.6 1.9 1.4 2.0 1.4 2.3 -0.7 1.4 0.6 -1.6 LU3.0 2.4 1.8 2.5 2.6 3.0 3.5 3.6 3.5 1.9 HU0.0 0.9 1.3 4.6 2.2 3.7 1.9 2.3 1.1 -1.0 MT2.9 2.8 4.5 6.1 3.8 4.5 8.0 6.0 5.7 2.7 NL0.9 -0.2 -1.2 -0.1 1.0 1.5 2.4 2.7 2.0p-0.5pAT1.6 1.0 0.3 1.0 0.6 1.3 1.6 1.7 1.1 -1.6 PL0.6 0.1 -0.1 1.7 1.5 0.8 1.3 0.5 0.0 -0.1pPT-1.9 -4.1 -2.9 1.4 1.4 1.6 3.3 2.3 0.8 -1.9pRO-2.3 1.4 -0.9 0.8 -1.3 -1.1 2.4 0.1 0.1 -1.8pSI-1.7 -0.9 -1.1 0.4 1.3 1.8 2.9 3.2 2.5 -0.6 SK1.8 0.1 -0.8 1.4 2.0 2.4 2.2 2.0 1.0 -1.9 FI1.6 0.9 -0.8 -0.4 -0.1 0.5 1.0 2.5 1.8 -2.1 SE2.3 0.7 1.0 1.4 1.5 1.9 2.5 1.6 0.6 -1.3 Source: European Commission, EurostatPersonsinemploymentarethosewho,duringthereferenceweek,didanyworkforpayorprofit,orwerenotworkingbuthadajobfromwhichtheyweretemporarilyabsent.Anyonewhoreceivesawage(incashorinkind)foron-the-jobtrainingthatinvolvestheproductionofgoodsorservicesisalsoconsideredasbeinginemployment.Self-employedandfamilyworkersarealsoincluded.Datapresentemploymentinresidentproductionunitsirrespectiveoftheplaceofresidenceoftheemployedperson(i.e.domesticscope).Employmentgrowthratesarebasedonnumberofpersonswithoutdistinctionaccordingtofull-timeorpart-timework.DataaresourcedfromNationalaccounts statistics.Flags:p:Provisional.  
 
 
 
 
Table 3.44: Young people neither in employment nor in education and training - % of total population aged 15-24 

88 

2011201220132014201520162017201820192020BE11.8b12.3 12.7 12.0 12.2 9.9 9.3b9.2 9.3 9.2 BG21.8 21.5 21.6 20.2 19.3 18.2 15.3 15.0 13.7 14.4 CZ8.3b8.9 9.1b8.1 7.5 7.0 6.3 5.6 5.7 6.6 DK7.2 7.3 6.6 6.4 7.0 6.7b7.6b7.7 7.7 7.4 DE7.5b7.1 6.3 6.4 6.2 6.7 6.3 5.9 5.7 7.3bpEE11.6 12.2 11.3 11.7 10.8 9.1 9.4 9.8 6.9 8.9 IE19.1 19.2 16.4 15.3 14.3 12.6 10.9b10.1 10.1 12.0 EL17.4 20.2 20.4 19.1 17.2 15.8 15.3 14.1 12.5 13.2 ES18.2 18.6 18.6 17.1b15.6 14.6 13.3 12.4 12.1 13.9 FR12.3 12.5 11.2b11.2b12.0 11.9 11.4 11.1 10.6 11.4 HR16.2 16.6 19.6 19.3 18.1 16.9 15.4 13.6 11.8 12.2 IT19.7 21.0 22.2 22.1 21.4 19.9 20.1 19.2 18.1 19.0 CY14.6 16.0 18.7 17.0 15.3 16.0 16.1 13.2 13.7 14.4 LV16.0 14.9 13.0 12.0 10.5 11.2 10.3 7.8 7.9 7.1 LT11.8 11.2 11.1 9.9 9.2 9.4 9.1 8.0 8.6 10.8 LU4.7 5.9 5.0 6.3 6.2b5.4 5.9 5.3 5.6 6.6 HU13.2 14.8 15.5 13.6 11.6b11.0 11.0 10.7 11.0 11.7 MT10.2 10.8 9.9 10.3 10.5 8.8 8.6b7.3 8.6 9.3 NL4.3 4.9 5.6b5.5 4.7 4.6 4.0 4.2 4.3 4.5 AT7.3 6.8 7.3 7.7 7.5 7.7 6.5 6.8 7.1 8.0 PL11.5 11.8 12.2b12.0 11.0 10.5 9.5 8.7b8.1 8.6 PT12.6b13.9 14.1 12.3 11.3 10.6 9.3 8.4 8.0 9.1 RO17.5 16.8 17.0 17.0 18.1 17.4 15.2 14.5 14.7 14.8 SI7.1 9.3 9.2 9.4 9.5 8.0 6.5 6.6 7.0 7.7 SK13.8b13.8 13.7 12.8 13.7 12.3 12.1 10.2 10.3 10.7 FI8.4 8.6 9.3 10.2 10.6 9.9 9.4 8.5 8.2 9.3 SE7.5 7.8 7.5 7.2 6.7 6.5 6.2 6.0b5.5 6.5 1)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.2)2018,b=changesintheweightingprocedureforPL.3)2017,b=changeinthesurveymethodologyforBE;b=changesintheweightingprocedureforMT;b=introductionoftheLabourForceSurveyinsubstitutiontotheQuarterlyNationalHouseholdSurvey(QNHS)asdatasourceforIE;b=LabourForceSurveydatacollectionimprovement,introductionofCAWI(startingwith2016)forDK.4)2015,b=changeinsamplingstrategyanddatacollectiontechniqueforLU.5)2014,b=changeintheclassificationofnon-formaleducationactivitiesforES;b=dataarefurtherimpactedfromthechangesinthequestionnaireintroducedin2013andinclusionofFrenchoverseasdepartments(DROM)forFR.6)2013,b=changesintheimplementation of variables on education used for the derivation of the indicator for PL.Source: European Commission, EurostatTheindicatoryoungpeopleneitherinemploymentnorineducationandtraining(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'. The data source is the quarterly EU Labour Force Survey (EU LFS).Flags:b:Break in series. p:Provisional.  
 
 
 
 
Table 3.45: People at risk of poverty or social exclusion - % of total population 

89 

2011201220132014201520162017201820192020BE21.0 21.6 20.8 21.2 21.1 20.9 20.6 20.0 19.5b18.9bBG49.1 49.3 48.0 40.1b41.3 40.4b38.9 32.8 32.8 32.1 CZ15.3 15.4 14.6 14.8 14.0 13.3 12.2 12.2 12.5 11.9 DK17.6b17.5 18.3 17.9 17.7 16.8 17.2 17.0 16.3 15.9bDE19.9 19.6 20.3 20.6 20.0 19.7 19.0 18.7 17.4 24.0bEE23.1 23.4 23.5 26.0b24.2 24.4 23.4 24.4 24.3 23.3 IE30.9 30.1 29.9 28.3 26.2 24.4 22.7 21.1 20.6 naEL31.0 34.6 35.7 36.0 35.7 35.6 34.8 31.8 30.0 28.9 ES26.7 27.2 27.3 29.2 28.6 27.9 26.6 26.1 25.3 26.4 FR19.3 19.1 18.1 18.5 17.7 18.2 17.0 17.4 17.9 18.2pHR32.6 32.6 29.9 29.3 29.1 27.9 26.4 24.8 23.3 23.2 IT28.1 29.9 28.5 28.3 28.7 30.0 28.9 27.3 25.6 naCY24.6 27.1 27.8 27.4 28.9 27.7 25.2 23.9 22.3 21.3 LV40.1 36.2 35.1 32.7 30.9 28.5 28.2 28.4 27.3 naLT33.1 32.5 30.8 27.3 29.3 30.1 29.6 28.3 26.3 24.8 LU16.8 18.4 19.0 19.0 18.5 19.1b19.4 20.7 20.6 20.9bHU31.5 33.5 34.8 31.8 28.2 26.3 25.6 19.6 18.9 17.8 MT22.1 23.1 24.6 23.9 23.0 20.3 19.3 19.0 20.1 19.0 NL15.7 15.0 15.9 16.5 16.4 16.7b17.0 16.7 16.5 16.3pAT19.2 18.5 18.8 19.2 18.3 18.0 18.1 17.5 16.9 17.5 PL27.2 26.7 25.8 24.7 23.4 21.9 19.5 18.9 18.2 17.3pPT24.4 25.3 27.5 27.5 26.6 25.1 23.3 21.6 21.6 19.8 RO40.9 43.2 41.9 40.3 37.4 38.8 35.7 32.5 31.2 30.4 SI19.3 19.6 20.4 20.4 19.2 18.4 17.1 16.2 14.4 15.0 SK20.6 20.5 19.8 18.4 18.4 18.1 16.3 16.3 16.4 14.8pFI17.9 17.2 16.0 17.3 16.8 16.6 15.7 16.5 15.6 16.0 SE18.5 17.7 18.3 18.2 18.6 18.3 17.7 18.0 18.8 17.9 1)Officialtransmissiondeadlinefor2020datais30November2021whiledatawereextractedon22October2021.2)2020,b=majorsubstantiveandmethodologicalchangesforDE.3)2019,b=majorsubstantiveandmethodologicalchangesforBE.4)2016,b=forBG,increaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesize.Thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime;b=forLU,newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment.BettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister;b=forNL,introductionofCAWI,oversamplingoflowerincomegroups, use of register information for housing costs, changes in fieldwork period, weighting, calculation of imputed rent.Source: European Commission, EurostatThisindicatorcorrespondstothepercentage(oftotalpopulation)ofpeoplewhoare:atriskofpovertyorseverelymateriallydeprivedorlivinginhouseholdswithverylowworkintensity.Personsareonlycountedonceeveniftheyarepresentinseveralsub-indicators.Atrisk-of-povertyarepersonswithanequivaliseddisposableincomebelowtherisk-of-povertythreshold,whichissetat60%ofthenationalmedianequivaliseddisposableincome(aftersocialtransfers).Materialdeprivationcoversindicatorsrelatingtoeconomicstrainanddurables.Severelymateriallydeprivedpersonshavelivingconditionsseverelyconstrainedbyalackofresources,theyexperienceatleast4outof9deprivationsitems.Peoplelivinginhouseholdswithverylowworkintensityarethoseaged0-59livinginhouseholdswheretheadults(aged18-59)workedlessthan20%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. p:Provisional.  
 
 
 
Table 3.46: People at risk of poverty after social transfers - % of total population 

90 

2011201220132014201520162017201820192020BE15.3 15.3 15.1 15.5 14.9 15.5 15.9 16.4 14.8b14.1bBG22.2 21.2 21.0 21.8 22.0 22.9b23.4 22.0 22.6 23.8 CZ9.8 9.6 8.6 9.7 9.7 9.7 9.1 9.6 10.1 9.5 DK12.1 12.0 11.9 12.1 12.2 11.9 12.4 12.7 12.5 12.1bDE15.8 16.1 16.1 16.7 16.7 16.5 16.1 16.0 14.8 18.5bEE17.5 17.5 18.6 21.8 21.6 21.7 21.0 21.9 21.7 20.7 IE15.2 16.3 15.7 16.8 16.2 16.8 15.6 14.9 13.1 naEL21.4 23.1 23.1 22.1 21.4 21.2 20.2 18.5 17.9 17.7 ES20.6 20.8 20.4 22.2 22.1 22.3 21.6 21.5 20.7 21.0 FR14.0 14.1 13.7 13.3 13.6 13.6 13.2 13.4 13.6 13.8pHR20.9 20.4 19.5 19.4 20.0 19.5 20.0 19.3 18.3 18.3 IT19.8 19.5 19.3 19.4 19.9 20.6 20.3 20.3 20.1 naCY14.8 14.7 15.3 14.4 16.2 16.1 15.7 15.4 14.7 14.3 LV19.0 19.2 19.4 21.2 22.5 21.8 22.1 23.3 22.9 naLT19.2 18.6 20.6 19.1 22.2 21.9 22.9 22.9 20.6 20.9 LU13.6 15.1 15.9 16.4 15.3 15.8b16.4 16.7 17.5 17.4bHU14.1 14.3 15.0 15.0 14.9 14.5 13.4 12.8 12.3 12.3 MT15.6 15.1 15.8 15.8 16.6 16.5 16.7 16.8 17.1 16.9 NL11.0 10.1 10.4 11.6 11.6 12.7b13.2 13.3 13.2 13.6pAT14.5 14.4 14.4 14.1 13.9 14.1 14.4 14.3 13.3 13.9 PL17.7 17.1 17.3 17.0 17.6 17.3 15.0 14.8 15.4 14.8pPT18.0 17.9 18.7 19.5 19.5 19.0 18.3 17.3 17.2 16.2 RO22.3 22.9 23.0 25.1 25.4 25.3 23.6 23.5 23.8 23.4 SI13.6 13.5 14.5 14.5 14.3 13.9 13.3 13.3 12.0 12.4 SK13.0 13.2 12.8 12.6 12.3 12.7 12.4 12.2 11.9 11.4pFI13.7 13.2 11.8 12.8 12.4 11.6 11.5 12.0 11.6 12.2 SE15.4 15.2 16.0 15.6 16.3 16.2 15.8 16.4 17.1 16.1 1)Officialtransmissiondeadlinefor2020datais30November2021whiledatawereextractedon22October2021.2)2020,b=majorsubstantiveandmethodologicalchangesforDE.3)2019,b=majorsubstantiveandmethodologicalchangesforBE.4)2016,b=forBG,increaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesize.Thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime;b=forLU,newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment.BettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister;b=forNL,introductionofCAWI,oversamplingoflowerincomegroups, use of register information for housing costs, changes in fieldwork period, weighting, calculation of imputed rent.Source: European Commission, EurostatTheindicatormeasurespersonswithanequivaliseddisposableincomebelowtherisk-of-povertythreshold,whichissetat60%ofthenationalmedianequivaliseddisposableincome(aftersocialtransfers)asa%oftotalpopulation. Data are expressed 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.  
 
 
 
 
 
Table 3.47: Severely materially deprived people - % of total population 

91 

2011201220132014201520162017201820192020BE5.7 6.3 5.1 5.9 5.8 5.5 5.2 5.0 4.4b3.9bBG43.6 44.1 43.0 33.1 34.2 31.9b30.0 20.9 20.9 19.4 CZ6.1 6.6 6.6 6.7 5.6 4.8 3.7 2.8 2.7 2.4 DK2.3 2.7 3.6 3.2 3.7 2.6 3.1 3.4 2.6 2.4 DE5.3 4.9 5.4 5.0 4.4 3.7 3.4 3.1 2.6 6.6buEE8.7 9.4 7.6 6.2 4.5 4.7 4.1 3.8 3.3 2.8 IE7.8 9.9 9.9 9.2 8.5 6.7 5.2 4.9 5.4 naEL15.2 19.5 20.3 21.5 22.2 22.4 21.1 16.7 16.2 16.5 ES4.5 5.8 6.2 7.1 6.4 5.8 5.1 5.4 4.7 7.0 FR5.2 5.3 4.9 4.8 4.5 4.4 4.1 4.7 4.7 4.8pHR15.2 15.9 14.7 13.9 13.7 12.5 10.3 8.6 7.2 6.9 IT11.1 14.5 12.3 11.6 11.5 12.1 10.1 8.5 7.4 naCY11.7 15.0 16.1 15.3 15.4 13.6 11.5 10.2 9.1 8.3 LV31.0 25.6 24.0 19.2 16.4 12.8 11.3 9.5 7.8 naLT19.0 19.8 16.0 13.6 13.9 13.5 12.4 11.1 9.4 7.7 LU1.2 1.3 1.8 1.4 2.0 1.6b1.2 1.3 1.3 1.7bHU23.4 26.3 27.8 24.0 19.4 16.2 14.5 10.1 8.7 8.0 MT6.6 9.2 10.2 10.3 8.5 4.4 3.3 3.0 3.6 3.3 NL2.5 2.3 2.5 3.2 2.6 2.6b2.6 2.4 2.5 2.1pAT4.0 4.0 4.2 4.0 3.6 3.0 3.7 2.8 2.6 2.7 PL13.0 13.5 11.9 10.4 8.1 6.7 5.9 4.7 3.6 2.6pPT8.3 8.6 10.9 10.6 9.6 8.4 6.9 6.0 5.6 4.6 RO29.5 31.1 29.8 25.9 22.7 23.8 19.7 16.8 14.5 15.2 SI6.1 6.6 6.7 6.6 5.8 5.4 4.6 3.7 2.6 3.0 SK10.6 10.5 10.2 9.9 9.0 8.2 7.0 7.0 7.9 5.9pFI3.2 2.9 2.5 2.8 2.2 2.2 2.1 2.8 2.4 2.6 SE1.7 1.8 1.9 1.0 1.1 0.8 1.1 1.6 1.8 1.8u1)Officialtransmissiondeadlinefor2020datais30November2021whiledatawereextractedon22October2021.2)2020,b=majorsubstantiveandmethodologicalchangesforDE.3)2019,b=majorsubstantiveandmethodologicalchangesforBE.4)2016,b=forBG,increaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesize.Thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime;b=forLU,newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment.BettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister;b=forNL,introductionofCAWI,oversamplingoflowerincomegroups, use of register information for housing costs, changes in fieldwork period, weighting, calculation of imputed rent.Source: European Commission, EurostatSeverelymateriallydeprivedpersonshavelivingconditionsseverelyconstrainedbyalackofresources.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. u:Low reliability. p:Provisional.  
 
 
 
 
Table 3.48: People living in households with very low work intensity - % of total population aged 0-59  

92 

2011201220132014201520162017201820192020BE13.8 13.9 14.0 14.6 14.9 14.9 13.9 12.6 12.4b11.9bBG11.0 12.5 13.0 12.1 11.6 11.9b11.1 9.0 9.3 8.5 CZ6.6 6.8 6.9 7.6 6.8 6.7 5.5 4.5 4.2 4.4 DK10.5 10.2 11.9 12.2 11.6 10.7 10.0 9.8 9.3 9.1 DE11.2 9.9 9.9 10.0 9.8 9.6 8.7 8.1 7.6 9.5bEE10.0 9.1 8.4 7.6b6.6 5.8 5.8 5.2 5.4 4.7 IE26.9 23.4 23.9 21.0 18.7 17.8 16.2 13.0 13.6 naEL12.0 14.2 18.2 17.2 16.8 17.2 15.6 14.6 13.8 12.8 ES13.4 14.3 15.7 17.1 15.4 14.9 12.8 10.7 10.8 9.9 FR9.4 8.4 8.1 9.6 8.6 8.4 8.1 8.0 7.9 8.8pHR15.9 16.8 14.8 14.7 14.4 13.0 12.2 11.2 9.2 8.6 IT10.5 10.6 11.3 12.1 11.7 12.8 11.8 11.3 10.0 naCY4.9 6.5 7.9 9.7 10.9 10.6 9.4 8.6 6.8 5.6 LV12.6 11.7 10.0 9.6 7.8 7.2 7.8 7.6 7.6 naLT12.7 11.4 11.0 8.8 9.2 10.2 9.7 9.0 7.5 7.3 LU5.8 6.1 6.6 6.1 5.7 6.6b6.9 8.3 7.5 7.9bHU12.8 13.5 13.6 12.8 9.4 8.2 6.6 5.7 5.0 5.0 MT8.9 9.0 9.1 9.9 9.2 7.3 7.1 5.5 4.9 5.4 NL8.9 8.9 9.3 10.2 10.2 9.7b9.5 8.6 9.2 8.9pAT8.6 7.7 7.8 9.1 8.2 8.1 8.3 7.3 7.8 7.1 PL6.9 6.9 7.2 7.3 6.9 6.4 5.7 5.6 4.7 4.3pPT8.3 10.1 12.2 12.2 10.9 9.1 8.0 7.2 6.2 5.1 RO7.3 7.9 7.6 7.2 7.9 8.2 6.9 7.4 6.0 6.3 SI7.6 7.5 8.0 8.7 7.4 7.4 6.2 5.4 5.2 4.8 SK7.7 7.2 7.6 7.1 7.1 6.5 5.4 5.2 6.2 4.3pFI10.0 9.3 9.0 10.0 10.8 11.4 10.7 10.8 9.7 9.9 SE9.4 8.1 9.4 9.0 8.7 8.5 8.8 9.1 8.6 8.5 1)Officialtransmissiondeadlinefor2020datais30November2021whiledatawereextractedon22October2021.2)2020,b=majorsubstantiveandmethodologicalchangesforDE.3)2019,b=majorsubstantiveandmethodologicalchangesforBE.4)2016,b=forBG,increaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesize.Thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime;b=forLU,newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment.BettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister;b=forNL,introductionofCAWI,oversamplingoflowerincomegroups, use of register information for housing costs, changes in fieldwork period, weighting, calculation of imputed rent.Source: European Commission, EurostatPeoplelivinginhouseholdswithverylowworkintensityarepeopleaged0-59livinginhouseholdswheretheadults(aged18-59)workedlessthan20%oftheirtotalworkpotentialduringthepastyear.Studentsareexcluded.Data are expressed in percentage of population aged 0-59. The source of the data is EU Statistics on Income and Living Conditions (EU-SILC).Flags:b:Break in series. p:Provisional.  
 
 
 
 
Chapter 4: Tables by Member State - Headline indicators 
Table 4.1: The MIP scoreboard for Belgium 

93 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%0.4 -0.1 -0.4 0.5 1.0 0.9 0.9 0.1 0.0 0.1 Net international investment position% of GDP-35%51.4 40.8 43.2 44.8 45.2 54.5 56.0 34.3 41.1 44.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.5 -4.3 -0.2 -0.6 -1.7 -0.4 0.9 7.0 2.7 2.5 Export market share - % of world exports5 year % change-6%-7.8 -15.6 -13.2 -13.5 -13.7 -5.2 1.6 -1.3 -2.5 10.9 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.1 4.9 7.4 4.3 0.4 -0.7 1.4 3.9 4.9 7.5pHouse price index (2015=100), deflated 1 year % change6%1.1 0.2 0.1 -1.3 0.8 1.1 1.7 0.8 2.6 3.6 Private sector credit flow, consolidated% of GDP14%22.2 14.6 7.9 -2.1 11.5 23.7 2.0 2.6 7.6 1.1pPrivate sector debt, consolidated% of GDP133%180.6 191.0 163.0 162.5 175.3 194.8 187.8 184.6 186.6 192.0pGeneral government gross debt% of GDP60%103.5 104.8 105.5 107.0 105.2 105.0 102.0 99.9 97.7 112.8 Unemployment rate3 year average10%7.8 7.7 7.7 8.2 8.5 8.3 7.8b7.0b6.2b5.7 Total financial sector liabilities, non-consolidated1 year % change16.5%5.4 -5.1 1.2 2.6 2.6 2.4 1.4 -3.3 4.8 8.8 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.4 0.0 -0.2 1.0 0.7 0.1 0.3b1.0 1.4 0.6bLong-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.2 -0.1 -0.1 0.8 1.0 0.1 -0.8b-1.5 -1.7 -1.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp0.7 -2.1 1.3 4.5 2.3 -3.6 -3.9b-6.3 -5.9 -4.0 BelgiumExternal 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, b = change in the survey methodology.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 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-3.2 -0.7 0.3 0.6 0.8 1.4 2.1 2.4 2.0 0.8 Net international investment position% of GDP-35%-82.4 -77.3 -73.3 -71.9 -61.5 -47.5 -43.0 -37.0 -30.2 -26.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)1.9 -4.0 -0.9 -2.8 -4.3 -4.7 -3.3 4.2 4.6 7.1 Export market share - % of world exports5 year % change-6%11.1 -1.1 -0.4 5.4 12.9 9.2 20.1 13.1 15.3 16.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)16.9 10.9 16.2 19.2 17.2 11.0 15.8 20.5 20.4 20.4 House price index (2015=100), deflated 1 year % change6%-8.9 -4.6 -0.8 0.1 0.4b5.3 3.9 4.1 3.9 5.2pPrivate sector credit flow, consolidated% of GDP14%3.5 2.6 2.6 2.3 -3.8 3.0 4.5 3.9 5.6 4.2 Private sector debt, consolidated% of GDP133%128.4 127.6 130.1 125.1 108.7 103.9 98.6 95.0 90.7 94.3 General government gross debt% of GDP60%15.2 16.6 17.0 27.0 25.9 29.1 25.1 22.1 20.0 24.7 Unemployment rate3 year average10%9.5b11.3b12.2b12.2 11.2 9.4 7.7 6.3 5.2 4.8 Total financial sector liabilities, non-consolidated1 year % change16.5%4.3 11.7 1.1 7.9 9.6 9.5 7.1 6.6 5.2 11.1 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-1.9b-0.1 1.7b3.1b2.2 0.3 2.3 2.2 4.5 0.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp3.4b3.8 2.7 0.6 -1.2 -2.9 -3.5 -2.6 -2.1 -1.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp12.3b11.9 6.5 -1.2 -6.5 -11.2 -10.9 -8.9 -8.3 1.3 BulgariaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index, b = break in time series due to full implementation of harmonised EU methodology.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. p:Provisional.  
 
 
 
 
 
 
 
 
Table 4.3: The MIP scoreboard for Czech Republic 

95 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-2.6 -2.4 -1.4 -0.6 0.0 0.8 1.3 1.3 0.8 1.5 Net international investment position% of GDP-35%-44.9 -45.6 -40.9 -36.3 -32.9 -27.2 -24.9 -24.4 -19.8 -12.5 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.5 0.5 -3.1 -10.0 -8.2 -3.7 5.3 11.0 8.7 5.6 Export market share - % of world exports5 year % change-6%7.4 -4.6 -10.0 -6.4 -2.1 2.5 8.3 11.1 5.0 10.1 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)3.5 4.3 4.3 4.6 0.6 3.3 5.7 13.1 14.6 19.2 House price index (2015=100), deflated 1 year % change6%-1.6 -3.5 -0.7 1.6 4.0 6.8 9.1 5.9 6.2 5.5 Private sector credit flow, consolidated% of GDP14%2.5 3.1 4.3 2.3 -0.4 6.2 6.0 6.8 1.4 2.4 Private sector debt, consolidated% of GDP133%79.2 81.8 84.8 83.0 78.2 80.4 80.3 83.0 78.6 81.9 General government gross debt% of GDP60%39.7 44.2 44.4 41.9 39.7 36.6 34.2 32.1 30.0 37.7 Unemployment rate3 year average10%6.9b7.0b6.9b6.7 6.1 5.1 4.0 3.0 2.4 2.3 Total financial sector liabilities, non-consolidated1 year % change16.5%4.8 5.0 10.1 5.2 7.9 16.8 28.3 3.4 4.6 3.4 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.8b1.5 2.7 3.0b2.4 2.1 2.4 2.6 1.7 0.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.5b1.0 0.0 0.0 -0.6 -1.3 -1.7 -1.7 -1.1 -0.4 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp8.2b2.9 0.7 -2.2 -6.9 -8.5 -8.0 -5.9 -4.9 0.1 Czech RepublicExternal imbalances and competitivenessInternal imbalances1) For the employment indicators, see page 2 of the AMR 2016.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. Employment indicators¹ 
 
 
 
 
 
 
 
 
Table 4.4: The MIP scoreboard for Denmark 

96 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%5.5 6.5 6.9 7.7 8.3 8.3 8.0 7.7 8.0 8.1 Net international investment position% of GDP-35%27.8 36.1 37.2 43.3 30.8 52.6 55.4 64.0 77.5 68.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-2.5 -7.8 -2.5 -1.2 -1.7 -1.7 -2.1 2.6 -0.2 0.9 Export market share - % of world exports5 year % change-6%-13.8 -17.8 -18.0 -16.0 -8.7 -3.1 1.5 0.0 2.8 11.5 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)3.6 -0.2 1.5 2.3 2.2 1.3 0.9 1.2 2.7 6.2 House price index (2015=100), deflated 1 year % change6%-4.0 -4.9 3.1 3.1 6.6 5.1 3.5 3.7 1.6 4.6 Private sector credit flow, consolidated% of GDP14%4.4 7.9 -3.0 -0.3 2.9 3.1 2.0 4.8 10.7 4.8 Private sector debt, consolidated% of GDP133%221.0 224.0 216.1 214.0 211.4 222.4 216.7 215.3 221.0 220.9 General government gross debt% of GDP60%46.1 44.9 44.0 44.3 39.8 37.2 35.9 34.0 33.6 42.1 Unemployment rate3 year average10%7.3 7.8 7.7 7.4 6.9 6.4b6.0b5.6b5.3b5.2 Total financial sector liabilities, non-consolidated1 year % change16.5%1.6 2.5 1.8 7.3 -0.9 15.4 2.5 -0.3 13.1 5.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-1.5b-1.5 -1.4 -1.2 -0.3 0.9b1.3b1.3 1.6b1.1bLong-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp1.3 1.5 0.4 -0.1 -0.5 -0.6b-0.5b-0.6 -0.4 -0.3 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp6.9 2.3 -0.8 -2.2 -3.6 -2.6b-1.8b-1.7 -2.1 -0.8 Denmark1) For the employment indicators, see page 2 of the AMR 2016. 2) Labour Force Survey indicators, b = improvement in the data collection and introduction of CAWI (computer-assisted web interviewing) technique.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)External imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series.  
 
 
 
 
 
 
 
 
Table 4.5: The MIP scoreboard for Germany 

97 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%5.9 6.4 6.6 7.0 7.5 8.1 8.3 8.1 7.7 7.4 Net international investment position% of GDP-35%23.3 28.7 24.7 29.0 34.6 39.2 42.0 52.6 58.8 61.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-4.9 -9.0 -1.8 -0.4 -1.5 -2.1 -2.0 5.3 2.0 2.4 Export market share - % of world exports5 year % change-6%-9.4 -16.8 -13.2 -9.7 -3.3 1.9 5.7 3.3 -1.2 1.3 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.6 2.5 6.0 7.4 6.2 5.2 4.9 5.9p7.9p11.1pHouse price index (2015=100), deflated 1 year % change6%1.6 2.1 1.7 2.2 4.1 6.7 4.6 5.1 4.4 7.1 Private sector credit flow, consolidated% of GDP14%2.1 1.6 2.7 0.3 2.9 4.6 4.1 6.1p5.8p6.0pPrivate sector debt, consolidated% of GDP133%115.0 114.6 114.8 107.0 106.3 107.1 106.6 107.7p110.7p120.1pGeneral government gross debt% of GDP60%79.4 80.7 78.3 75.3 72.0 69.0 64.7 61.3 58.9 68.7 Unemployment rate3 year average10%6.9b6.1b5.5b5.2 4.9 4.6 4.2 3.8 3.4 3.4bpTotal financial sector liabilities, non-consolidated1 year % change16.5%3.1 3.3 -6.6 5.3 3.1 5.4 4.1 1.9 7.4 11.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.4b0.9 0.9b0.4b0.4 0.3 0.5 1.0 1.3 1.1bpLong-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-1.1b-1.1 -1.0 -0.6 -0.4 -0.6 -0.6 -0.6 -0.5 -0.5bpYouth unemployment rate - % of active population aged 15-243 year change in pp2 pp-2.1b-3.2 -2.0 -0.8 -0.8 -0.7 -0.9 -1.0 -1.3 0.6bpGermanyExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹1) For the employment indicators, see page 2 of the AMR 2016. 2) Labour Force Survey indicators, b = due to technical issues with the introduction of the new German system of integrated household surveys, including the LFS, the figures for Germany in 2020 are not direct estimates from LFS micro-data, but based on a larger sample including additional data from other integrated household surveys.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. p:Provisional.  
 
 
 
 
 
 
 
 
Table 4.6: The MIP scoreboard for Estonia 

98 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%1.9 0.4 -0.1 -0.3 0.9 1.2 1.8 1.4 1.9 1.0 Net international investment position% of GDP-35%-54.4 -51.1 -50.0 -47.0 -40.2 -39.5 -33.0 -30.0 -22.8 -21.5 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.8 -3.6 3.1 4.8 5.8 4.4 3.0 7.6 6.1 5.3 Export market share - % of world exports5 year % change-6%24.4 6.8 9.6 20.3 7.1 -0.9 1.7 -0.3 1.9 17.6 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)-2.2 0.7 11.6 14.7 15.0 12.6 12.3 13.0 15.4 17.1 House price index (2015=100), deflated 1 year % change6%3.1 3.1 7.3 12.9 7.3 3.7 1.1 2.2 4.4 6.9 Private sector credit flow, consolidated% of GDP14%-0.8 7.7 4.8 5.7 2.7 6.3 4.2 4.6 3.4 3.6 Private sector debt, consolidated% of GDP133%120.0 118.1 115.9 116.2 113.6 111.9 106.2 101.7 99.0 104.4 General government gross debt% of GDP60%6.2 9.8 10.2 10.6 10.1 10.0 9.1 8.2 8.6 19.0 Unemployment rate3 year average10%14.2 13.0 10.3 8.7 7.4 6.8 6.3 6.0 5.2 5.5 Total financial sector liabilities, non-consolidated1 year % change16.5%-0.2 10.9 10.3 13.0 8.6 8.4 12.3 6.6 11.7 17.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.5 0.8 1.2 0.5 1.9 2.4 3.6 2.4 1.4 0.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp5.4 1.8 -3.8 -3.8 -3.1 -1.7 -1.4 -1.1 -1.2 -0.7 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp10.4 -6.5 -14.2 -7.4 -7.8 -5.3 -2.9 -1.3 -2.3 5.8 1) For the employment indicators, see page 2 of the AMR 2016. 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 imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. 
 
 
 
 
 
 
 
 
Table 4.7: The MIP scoreboard for Ireland 

99 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-2.5 -2.1 -1.2 -0.3 2.3 0.4 0.2 0.5 -4.7 -5.8 Net international investment position% of GDP-35%-138.6 -137.4 -133.6 -164.6 -198.4 -172.7 -167.3 -183.6 -193.5 -174.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-9.6 -12.2 -3.8 -3.6 -6.4 -7.1 -6.3 2.3 -1.4 -1.2 Export market share - % of world exports5 year % change-6%-10.3 -18.4 -10.8 -14.8 37.6 58.3 70.9 78.5 73.4 50.0 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)-14.4b-9.9 -1.7 -3.4 -19.3 -16.2 -14.4 -1.7 -4.3 -6.3 House price index (2015=100), deflated 1 year % change6%-17.8 -14.4 0.0 15.7 10.7 7.2 9.8 8.1 0.3 -0.2 Private sector credit flow, consolidated% of GDP14%16.3 -0.5 -1.4 2.6 -2.3 -15.8 0.3 -8.8 -9.6 -1.8 Private sector debt, consolidated% of GDP133%273.1 276.5 266.1 276.6 304.0 283.2 249.8 231.2 209.4 188.9 General government gross debt% of GDP60%110.5 119.7 120.0 104.3 76.7 74.3 67.8 63.1 57.2 58.4 Unemployment rate3 year average10%14.2 15.2 14.9 13.7 11.9 10.1 8.4 7.0 5.8 5.5 Total financial sector liabilities, non-consolidated1 year % change16.5%-2.2 -1.1 2.1 19.5 9.6 1.5 4.2 5.2 15.3 7.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-3.6 -1.9 0.2 0.6 1.0 0.9 0.9 0.8 0.6 -0.8 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp7.1 5.7 1.1 -2.2 -3.9 -3.8 -3.6 -3.2 -2.6 -1.7 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp16.1 6.3 -1.4 -6.2 -10.6 -9.9 -9.0 -6.4 -4.3 0.9 Figures 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. 2) Private sector debt, 2015: significant increases due to re-domiciling of large multinational corporations and movement of large parts of their balance sheets. 2016: the decline relative to 2015 predominantly reflects restructuring and re-domiciling activities of large multinational companies. 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)IrelandExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 4.8: The MIP scoreboard for Greece 

100 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-10.4 -7.5 -4.6 -1.9 -1.0 -1.1 -1.5 -2.2 -2.1 -3.7 Net international investment position% of GDP-35%-90.4 -117.6 -131.0 -133.0 -136.1 -139.1 -143.4 -148.6 -154.2 -175.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)1.8 -5.0 -4.4 -5.6 -5.6 -4.0 -3.0 3.8 0.5 0.4 Export market share - % of world exports5 year % change-6%-17.2 -26.3 -26.9 -19.6 -14.1 -10.0 -0.6 6.4 3.4 -10.1 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.5 1.6 -4.4 -8.5 -11.0 -4.7 -3.3 -1.0 -1.4p6.4pHouse price index (2015=100), deflated 1 year % change6%-8.2e-12.5e-9.3e-5.2e-3.8e-1.5e-1.4e1.7e7.2e5.5ePrivate sector credit flow, consolidated% of GDP14%-6.6 -4.8 -4.0 -3.1 -3.1 -2.1 -1.2 -0.9 -0.9p5.4pPrivate sector debt, consolidated% of GDP133%133.0 135.1 133.4 132.4 129.1 127.0 120.6 119.2 110.5p125.3pGeneral government gross debt% of GDP60%175.2 162.0 178.2 180.3 176.7 180.5 179.5 186.4 180.7 206.3 Unemployment rate3 year average10%13.4b18.4 23.3 26.2 26.3 25.0 23.3 21.5 19.4 17.6 Total financial sector liabilities, non-consolidated1 year % change16.5%-3.9 -2.1 -17.6 -8.3 6.3 -10.2 -12.8 -4.9 11.8 27.4 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.6 0.1b-0.3 0.1 0.3 0.7 0.9 0.4 0.2 -0.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp5.1 10.6 12.8 10.7 3.7 -1.5 -3.9 -4.6 -4.8 -4.7 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp22.8 29.6 25.3 7.7 -5.5 -11.0 -8.8 -9.9 -12.1 -8.6 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index e = estimate by NCB.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 indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. p:Provisional. GreeceExternal imbalances and competitiveness 
 
 
 
 
 
 
 
 
Table 4.9: The MIP scoreboard for Spain  

101 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-3.5 -2.1 -0.2 1.3 1.9 2.3 2.7 2.6 2.3 1.6 Net international investment position% of GDP-35%-93.8 -88.9 -92.8 -95.9 -88.9 -85.5 -85.5 -80.1 -75.0 -85.5 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-2.5 -5.3 -0.3 -1.0 -3.2 -4.3 -2.6 4.2 1.7 1.1 Export market share - % of world exports5 year % change-6%-8.3 -17.6 -10.5 -11.7 -3.5 2.7 9.5 4.4 2.5 -6.8 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)-1.4 -5.0 -5.1 -3.6 -1.1 -1.2 -0.6 1.0 5.0p11.0pHouse price index (2015=100), deflated 1 year % change6%-9.8 -16.5 -10.0 0.2 3.7 4.5 4.6 5.2 4.1 2.2 Private sector credit flow, consolidated% of GDP14%-4.2 -11.2 -10.0 -7.0 -2.1 -0.4 0.6 0.0 1.1p4.4pPrivate sector debt, consolidated% of GDP133%198.2 188.5 178.2 167.7 155.8 147.8 139.2 132.7 128.6p146.4pGeneral government gross debt% of GDP60%69.9 86.3 95.8 100.7 99.3 99.2 98.6 97.5 95.5 120.0 Unemployment rate3 year average10%19.7 22.0 24.1 25.1 24.2 22.1 19.6 17.4 15.5 15.0 Total financial sector liabilities, non-consolidated1 year % change16.5%3.4 0.6 -10.4 0.3 -1.8 1.8 4.3 -1.8 0.7 9.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.2 1.2 0.8 0.3 0.0 -0.1 -0.3 -0.6 -0.4 -1.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp6.9 6.7 5.7 4.0 0.4 -3.5 -5.2 -5.0 -4.2 -2.7 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp21.7 15.2 14.0 7.0 -4.6 -11.1 -14.6 -14.0 -11.9 -0.3 1) For the employment indicators, see page 2 of the AMR 2016.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 imbalancesFigures highlighted are the ones at or beyond the threshold. Flags:p:Provisional. Employment indicators¹ 
 
 
 
 
 
 
 
Table 4.10: The MIP scoreboard for France 

102 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-0.7 -0.8 -0.8 -0.8 -0.6 -0.6 -0.5 -0.7 -0.6 -1.0 Net international investment position% of GDP-35%-8.7 -12.8 -16.6 -15.6 -12.9 -13.0 -20.1 -19.3 -25.3 -30.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-4.4 -7.8 -2.2 -1.3 -2.9 -3.2 -3.0 4.5 1.6 2.7 Export market share - % of world exports5 year % change-6%-15.4 -18.4 -14.5 -14.7 -3.8 1.0 2.5 0.6 -0.4 -6.9 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.4 4.1 4.6 4.4 2.3 1.7 1.7 2.4 0.9p4.6pHouse price index (2015=100), deflated 1 year % change6%3.8 -1.9 -2.5 -1.6 -1.6 0.8 2.3 1.2 2.5 4.4 Private sector credit flow, consolidated% of GDP14%6.4 4.2 2.1 3.2 4.6 6.2 7.1 8.2 7.9p13.0pPrivate sector debt, consolidated% of GDP133%135.3 138.3 137.4 141.5 142.8 143.2 145.0 148.3 152.5p173.7pGeneral government gross debt% of GDP60%87.8 90.6 93.4 94.9 95.6 98.0 98.1 97.8 97.5 115.0 Unemployment rate3 year average10%9.2e9.4e9.8e10.1e10.3e10.3 10.0 9.5 8.9 8.5 Total financial sector liabilities, non-consolidated1 year % change16.5%6.9 1.4 0.5 5.6 2.2 4.9 4.3 1.7b7.3 11.6pActivity rate - % of total population aged 15-643 year change in pp-0.2 pp0.4e0.5e0.9e1.1e0.9e0.5e0.5 0.6 0.3 -0.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp1.0e0.9e0.6e0.6 0.4 0.1 -0.3 -0.8 -1.2 -1.3 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp3.7e0.8e1.6e1.5 0.3 -0.4 -2.1 -3.9 -5.0 -1.9 1) For the employment indicators, see page 2 of the AMR 2016.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)FranceExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. p:Provisional.  
 
 
 
 
 
 
 
 
Table 4.11: The MIP scoreboard for Croatia 

103 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-3.6 -2.0 -1.6 -0.9 0.8 1.9 3.0 2.5 2.8 1.6 Net international investment position% of GDP-35%-91.9 -90.5 -88.6 -86.8 -79.0 -72.4 -64.2 -55.7 -46.7 -47.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-4.7 -8.4 -3.9 -0.8 0.1 0.0 0.1 4.2 1.5 0.5 Export market share - % of world exports5 year % change-6%-15.6 -25.8 -23.6 -19.5 -5.9 9.3 23.0 22.4 22.3 0.1 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)6.3p-2.1p-5.0p-6.9p-6.1p-5.5p-4.0p-0.1p2.8p13.7pHouse price index (2015=100), deflated 1 year % change6%-2.0 -4.6 -5.7 -1.3 -2.6 2.0 2.9 4.6 7.8 7.3 Private sector credit flow, consolidated% of GDP14%-2.4 -2.8 -0.6 -0.2 -1.5 -0.2 1.5 2.2 1.2 1.3pPrivate sector debt, consolidated% of GDP133%119.5 117.0 115.6 115.8 110.5 102.8 96.3 92.0 88.3 98.0pGeneral government gross debt% of GDP60%63.7 69.4 80.3 83.9 83.3 79.8 76.7 73.3 71.1 87.3 Unemployment rate3 year average10%11.5 13.8 15.7 16.9 16.9 15.5 13.5 10.9 8.8 7.5 Total financial sector liabilities, non-consolidated1 year % change16.5%1.9 0.9 2.7 0.6 2.0 3.5 3.9 4.5 6.7 7.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-1.7 -1.7 -1.4 2.0 3.0 1.9 0.3 -0.6 0.9 0.7 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp3.1 5.1 4.4 1.7 0.0 -4.4 -5.5 -6.8 -4.2 -2.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp13.0 16.9 17.6 8.8 0.2 -18.7 -18.1 -18.6 -14.7 -6.3 1) For the employment indicators, see page 2 of the AMR 2016. 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)CroatiaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:p:Provisional.  
 
 
 
 
 
 
 
 
Table 4.12: The MIP scoreboard for Italy  

104 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-2.7 -2.1 -0.6 0.9 1.5 2.0 2.2 2.6 2.8 3.2 Net international investment position% of GDP-35%-18.2 -23.0 -23.4 -20.9 -18.8 -11.7 -7.0 -4.3 -1.0 2.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-3.2 -6.2 0.1 0.2 -2.4 -3.4 -3.1 3.4 0.2 0.6 Export market share - % of world exports5 year % change-6%-19.2 -25.8 -20.6 -15.7 -9.9 -4.2 0.6 -0.2 -2.2 -2.8 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)4.9 2.0 2.9 2.6 2.0 1.5 1.2 2.3 3.3 5.5 House price index (2015=100), deflated 1 year % change6%-1.5 -5.0 -7.5 -4.9 -4.0 0.2 -2.1 -1.5 -0.7 2.2 Private sector credit flow, consolidated% of GDP14%3.1 -0.9 -2.8 -0.3 -1.3 0.0 1.2 2.0 0.3 4.1 Private sector debt, consolidated% of GDP133%122.2 124.7 122.0 119.8 116.0 112.1 109.4 107.8 106.1 118.9 General government gross debt% of GDP60%119.7 126.5 132.5 135.4 135.3 134.8 134.2 134.4 134.3 155.6 Unemployment rate3 year average10%8.2 9.2 10.4 11.9 12.3 12.1 11.6 11.2 10.6 9.9 Total financial sector liabilities, non-consolidated1 year % change16.5%4.9 7.1 -2.3 0.9 1.4 3.3 1.9 0.0 4.6 6.8 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.8 1.2 1.4 1.8 0.5 1.5 1.5 1.6 0.8 -1.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp1.3 2.2 2.9 3.4 1.3 -0.2 -1.2 -0.7 -1.1 -1.8 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp8.0 10.0 12.1 13.5 5.0 -2.2 -8.0 -8.1 -8.6 -5.3 1) For the employment indicators, see page 2 of the AMR 2016.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)ItalyExternal imbalances and competitivenessFigures highlighted are the ones at or beyond the threshold.Internal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
Table 4.13: The MIP scoreboard for Cyprus 

105 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-6.6 -5.6 -2.6 -3.1 -2.0 -2.9 -3.2 -4.4 -4.9 -6.6 Net international investment position% of GDP-35%-141.9 -141.1 -162.5 -163.6 -154.0 -133.8 -136.1 -125.6 -116.1 -136.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-3.0 -5.9 -0.8 -1.7 -6.2 -7.4 -6.4 2.0 0.0 0.1 Export market share - % of world exports5 year % change-6%-9.1 -19.1 -12.3 -20.3 -4.9 7.8 21.1 21.9 23.1 28.5 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.4 3.2 -0.7 -6.5 -10.8 -9.2 -4.6 -0.4 5.3 5.8pHouse price index (2015=100), deflated 1 year % change6%-4.4 -5.5 -3.9 -1.1 1.0b2.2 1.2 0.5 2.6 0.7pPrivate sector credit flow, consolidated% of GDP14%17.7 0.7 -12.2 -0.8 4.3 11.9 7.4 11.5 1.7 -2.6pPrivate sector debt, consolidated% of GDP133%319.8 326.0 341.1 352.1 346.4 327.9 304.3 282.9 249.9 260.5pGeneral government gross debt% of GDP60%65.9 80.3 104.0 109.1 107.2 103.1 92.9 98.4 91.1 115.3 Unemployment rate3 year average10%6.5b8.7 11.9 14.6 15.7 14.7 13.0 10.8 8.9 7.7 Total financial sector liabilities, non-consolidated1 year % change16.5%9.6 11.8 -3.1 11.6 9.7 -0.3 0.8 -1.8 5.6 -2.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.1 0.5b0.0 0.8 0.4 -0.2 -0.4 1.1 2.6 1.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp1.1 3.0 4.8 6.1 3.2 -0.3 -3.2 -4.1 -3.7 -2.4 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp13.4 13.9 22.3 13.6 5.1 -9.8 -11.3 -12.6 -12.5 -6.5 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index b = break in time series due to full implementation of harmonised EU methodology. 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)Employment indicators¹CyprusExternal imbalances and competitivenessInternal imbalancesFigures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. p:Provisional.  
 
 
 
 
 
 
 
 
Table 4.14: The MIP scoreboard for Latvia 

106 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%2.0 -1.8 -3.3 -2.7 -1.7 -0.2 0.7 0.9 0.1 0.7 Net international investment position% of GDP-35%-78.0 -68.4 -67.9 -64.1 -60.1 -54.2 -51.4 -45.2 -40.1 -34.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-2.4 -8.6 -1.7 0.4 2.5 4.8 1.7 5.1 3.8 5.9 Export market share - % of world exports5 year % change-6%27.4 8.2 5.6 11.5 13.0 9.1 7.3 8.5 3.4 18.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)-17.6 -5.7 9.6 13.2 16.7 14.9 14.2 14.7 15.4 18.4 House price index (2015=100), deflated 1 year % change6%4.0 -0.3 6.4 4.7 -2.8 7.2 5.3 6.3 5.8 2.7 Private sector credit flow, consolidated% of GDP14%-2.3 -2.4 -0.6 -4.6 -0.8 2.5 2.7 -0.2 1.1 -1.8 Private sector debt, consolidated% of GDP133%114.5 96.3 90.7 82.2 78.3 78.3 75.6 69.7 66.2 66.5 General government gross debt% of GDP60%45.1 42.4 40.4 41.6 37.1 40.4 39.0 37.1 36.7 43.2 Unemployment rate3 year average10%17.7 16.9 14.4 12.6 10.9 10.1 9.4 8.6 7.5 7.3 Total financial sector liabilities, non-consolidated1 year % change16.5%-4.3 5.4 5.7 10.9 13.3 4.7 6.2 -3.5 4.6 10.8 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-1.4 0.9 1.0 1.8 1.3 2.3 2.4 2.0 1.0 1.2 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp6.9 3.3 -3.1 -4.2 -3.3 -1.7 -1.3 -1.4 -1.6 -1.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp17.4 -4.8 -13.0 -11.4 -12.2 -5.9 -2.6 -4.1 -4.9 -2.1 1) For the employment indicators, see page 2 of the AMR 2016.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.LatviaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 4.15: The MIP scoreboard for Lithuania 

107 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-0.5 -1.7 -1.2 1.2 0.9 0.0 -1.0 -0.1 1.4 3.7 Net international investment position% of GDP-35%-53.6 -54.4 -50.8 -46.8 -43.8 -42.8 -36.5 -30.5 -24.0 -15.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)1.7 -6.7 -0.6 1.7 4.2 5.3 2.6 6.6 3.8 6.9 Export market share - % of world exports5 year % change-6%23.0 23.9 10.8 19.6 6.3 -1.5 3.5 3.0 16.4 39.3 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)-8.0 -4.3 6.1 8.7 11.8 15.0 16.3 16.4 16.7 18.3 House price index (2015=100), deflated 1 year % change6%2.2 -3.2 0.4 6.4 4.7 4.4 5.2 4.5 4.6 6.4 Private sector credit flow, consolidated% of GDP14%-2.2 0.4 -0.2 0.2 2.6 4.4 4.5 4.3 2.6 0.3 Private sector debt, consolidated% of GDP133%64.6 61.0 56.6 54.1 55.2 56.6 56.2 56.1 55.3 54.7 General government gross debt% of GDP60%37.1 39.7 38.7 40.5 42.5 39.7 39.1 33.7 35.9 46.6 Unemployment rate3 year average10%15.7 15.5 13.5 12.0 10.5 9.2 8.0 7.1 6.5 7.0 Total financial sector liabilities, non-consolidated1 year % change16.5%1.9 -0.6 -1.3 16.7 7.1 15.8 12.9 9.1 6.2 28.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp3.0 2.2 2.2 2.3 2.3 3.1 2.2 3.2 2.5 2.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp6.7 3.3 -2.3 -3.2 -2.7 -2.1 -2.1 -1.9 -1.1 -0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp19.3 -2.9 -13.8 -13.3 -10.4 -7.4 -6.0 -5.2 -2.6 6.3 1) For the employment indicators, see page 2 of the AMR 2016. 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.LithuaniaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 4.16: The MIP scoreboard for Luxembourg 

108 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%5.7 5.6 5.3 5.1 4.9 4.8 4.8 4.7 4.7 4.5 Net international investment position% of GDP-35%28.5 63.2 61.5 67.3 63.3 55.5 80.6 33.0 58.2 39.9 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)0.1 -2.4 0.8 0.5 -0.7 -1.5 -1.0 3.3 2.0 1.5 Export market share - % of world exports5 year % change-6%-0.9 -6.3 6.9 9.0 17.9 25.7 23.6 14.3 10.7 20.6 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)12.1 8.0 9.9 5.8 5.6 2.6 6.0 8.7 12.4 11.1 House price index (2015=100), deflated 1 year % change6%0.7 2.0 3.4 3.7 4.5 5.2 3.3 5.1 8.3 13.8 Private sector credit flow, consolidated% of GDP14%20.8 24.5 26.4 28.1 21.3 -8.5 -4.7 5.2 19.6 44.5 Private sector debt, consolidated% of GDP133%276.8 287.9 296.8 313.2 322.7 302.0 286.5 282.7 302.0 316.8 General government gross debt% of GDP60%18.5 20.9 22.4 21.9 21.1 19.6 21.8 20.8 22.3 24.8 Unemployment rate3 year average10%4.8b4.8 5.3 5.6 6.2b6.3b6.2b5.8 5.6 6.0 Total financial sector liabilities, non-consolidated1 year % change16.5%14.3 14.9 10.3 38.4 16.8 5.0 0.5 -1.1 3.8 -3.6 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.1 0.7b1.7 2.9 1.5b0.1 -0.6 0.2b2.0 2.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp-0.2 0.4 0.5 0.2 0.3b0.4 0.5 -0.5 -0.9 -0.4 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp-1.1 1.6 1.3 5.8 -1.5b3.4 -7.2 -3.1 -1.9 7.8 LuxembourgExternal imbalances and competitivenessInternal imbalancesFigures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. Employment indicators¹1) For the employment indicators, see page 2 of the AMR 2016. 2) International investment position has been revised downwards in 2015 following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics. 3) Labour Force Survey indicators, 2015, b = change in the sampling strategy and data collection technique.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 4.17: The MIP scoreboard for Hungary 

109 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%0.1 0.8 1.9 2.1 2.3 2.7 2.9 2.2 0.5 -0.7 Net international investment position% of GDP-35%-103.6 -91.6 -82.0 -80.1 -67.5 -59.0 -54.4 -50.7 -48.7 -48.1 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-4.2 -0.8 -3.8 -6.8 -7.2 -5.2 0.0 2.0 0.4 -4.9 Export market share - % of world exports5 year % change-6%-4.3 -23.3 -23.1 -17.0 -9.5 -2.3 10.2 8.3 5.2 8.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)3.2 7.0 7.3 6.1 1.3 5.7 9.3 12.4 11.8 13.2pHouse price index (2015=100), deflated 1 year % change6%-6.6 -8.9 -4.2 2.8 12.5 12.3 8.6 10.7 11.8 1.9pPrivate sector credit flow, consolidated% of GDP14%-4.3 -5.9 -0.8 -0.3 -2.5 -3.2 0.6 4.2 3.9 7.7pPrivate sector debt, consolidated% of GDP133%114.1 101.7 95.6 91.3 83.7 76.7 69.9 68.7 67.1 76.4pGeneral government gross debt% of GDP60%80.3 78.1 77.2 76.5 75.7 74.8 72.1 69.1 65.5 80.1 Unemployment rate3 year average10%10.7 11.1 10.7 9.6 8.2 6.5 5.4 4.3 3.8 3.8 Total financial sector liabilities, non-consolidated1 year % change16.5%6.2 -5.8 -1.2 8.7 0.4 19.5 -7.1 -9.1 36.7 55.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.2 2.5 2.8 4.6 4.9 5.4 4.2 3.3 2.5 1.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp1.6 0.8 -0.6 -1.5 -1.9 -2.5 -2.0 -1.7 -1.3 -0.6 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp6.5 1.8 0.2 -5.6 -10.9 -13.7 -9.7 -7.1 -1.5 2.1 1) For the employment indicators, see page 2 of the AMR 2016.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)HungaryExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:p:Provisional.  
 
 
 
 
 
 
 
 
Table 4.18: The MIP scoreboard for Malta 

110 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-5.5 -2.8 -0.8 1.8 2.8 2.6 2.7 3.9 5.9 3.0 Net international investment position% of GDP-35%6.2 19.1 25.9 41.8 36.1 47.7 56.5 55.4 53.2 60.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-5.0 -7.6 -1.2 0.1 -2.8 -2.9 -2.5 4.5 1.8 2.1 Export market share - % of world exports5 year % change-6%17.6 12.1 -0.9 -12.7 8.9 17.7 24.1 19.1 20.7 13.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.3 7.2 9.3 2.3 0.9 6.4 6.5 9.6 6.6 19.7 House price index (2015=100), deflated 1 year % change6%-3.9 0.4 -1.6 2.0 4.1 4.4 4.3 5.0 4.2 2.2pPrivate sector credit flow, consolidated% of GDP14%6.4 0.7 3.0 6.3 6.8 10.3 6.4 6.9 10.2 9.0 Private sector debt, consolidated% of GDP133%166.3 158.0 146.9 139.6 130.4 132.7 123.6 121.3 121.3 139.1 General government gross debt% of GDP60%70.0 66.6 66.4 62.1 56.3 54.6 47.7 43.6 40.7 53.4 Unemployment rate3 year average10%6.7 6.5 6.2 6.0 5.7 5.3 4.7 4.1 3.8 3.9 Total financial sector liabilities, non-consolidated1 year % change16.5%10.2 8.3 0.0 6.0 3.6 3.8 7.7 2.7 7.1 1.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.7 4.5 5.9 6.0 4.9 4.3 4.4 5.9 5.3 4.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp1.3 0.9 -0.6 -1.0 -1.1 -1.1 -0.9 -0.9 -1.5 -0.9 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp1.6 -0.7 -0.5 -1.6 -2.2 -2.0 -1.1 -2.5 -1.4 0.3 Figures highlighted are the ones at or beyond the threshold. Flags:p:Provisional. MaltaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹1) For the employment indicators, see page 2 of the AMR 2016. 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 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%7.0 8.6 9.5 9.5 8.2 7.6 8.4 9.9 10.3 9.1 Net international investment position% of GDP-35%20.1 26.7 30.7 48.0 49.6 62.3 61.1 72.8 89.9 113.9 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-2.4 -6.0 0.5 0.7 -0.9 -2.3 -1.8 3.3 2.4 3.8 Export market share - % of world exports5 year % change-6%-8.4 -12.9 -11.6 -11.5 -6.9 -3.1 1.3 1.6 -0.1 7.4 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.3 2.6 4.8 3.7 -0.4 -0.3 0.1 3.7 5.8p14.0pHouse price index (2015=100), deflated 1 year % change6%-4.0 -7.9 -7.9 -0.1 3.4 4.4 6.1 7.1 4.6 6.0pPrivate sector credit flow, consolidated% of GDP14%8.0 6.1 9.8 4.3 0.1 3.7 4.0 5.6 -0.1 -1.3pPrivate sector debt, consolidated% of GDP133%247.6 252.5 258.2 267.6 263.2 259.5 249.6 243.6 232.3p233.7pGeneral government gross debt% of GDP60%61.7 66.2 67.7 67.9 64.6 61.9 56.9 52.4 48.5 54.3 Unemployment rate3 year average10%4.8 5.3 6.0 6.8 7.2 6.8 5.9 4.9 4.0 3.7 Total financial sector liabilities, non-consolidated1 year % change16.5%10.3 6.0 -1.6 8.0 4.0 7.4 0.5 -2.8 6.3p3.3pActivity rate - % of total population aged 15-643 year change in pp-0.2 pp0.3 0.9 1.5 0.9 0.6 0.3 0.7 0.7 1.2 1.2 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.4 0.8 1.2 1.3 1.1 0.0 -1.0 -1.6 -1.5 -1.0 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp1.4 1.5 2.1 2.7 -0.4 -2.4 -3.8 -4.1 -4.1 0.2 Figures highlighted are the ones at or beyond the threshold. Flags:p:Provisional. NetherlandsExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹1) For the employment indicators, see page 2 of the AMR 2016.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 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%2.4 2.0 1.7 2.0 2.0 2.3 1.9 1.7 1.5 1.6 Net international investment position% of GDP-35%-1.9 -3.2 1.3 3.4 2.2 4.1 4.3 6.0 13.5 9.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.8 -4.7 0.7 1.9 1.3 0.9 0.2 4.8 2.1 3.2 Export market share - % of world exports5 year % change-6%-12.5 -21.8 -18.7 -15.9 -9.3 -3.0 2.2 2.8 0.9 5.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.8 3.8 6.4 7.9 6.4 5.5 4.3 4.9 5.7 12.2 House price index (2015=100), deflated 1 year % change6%3.0 4.8 3.0 1.4 3.4 7.0 3.4 2.6 4.0 6.2 Private sector credit flow, consolidated% of GDP14%3.0 1.2 1.0 0.9 2.1 3.3 3.6 4.9 5.0 4.7 Private sector debt, consolidated% of GDP133%129.4 128.2 127.1 124.8 124.0 123.3 122.3 122.7 121.5 131.2 General government gross debt% of GDP60%82.4 81.9 81.3 84.0 84.9 82.8 78.5 74.0 70.6 83.2 Unemployment rate3 year average10%4.9 4.8 5.0 5.3 5.6 5.8 5.7 5.5 5.0 4.9 Total financial sector liabilities, non-consolidated1 year % change16.5%1.5 0.4 -3.2 -0.8 -0.1 -3.5 4.4 -0.8 4.3 10.6 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.7 0.8 1.1 0.8 0.4 0.7 1.0 1.3 0.9 0.2 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.2 0.0 0.1 0.3 0.5 0.6 0.3 -0.3 -0.8 -0.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp0.4 -1.3 0.2 1.4 1.2 1.5 -0.5 -1.2 -2.7 0.7 Figures highlighted are the ones at or beyond the threshold.1) For the employment indicators, see page 2 of the AMR 2016.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)AustriaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 4.21: The MIP scoreboard for Poland 

113 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-5.0 -5.0 -3.7 -2.8 -1.8 -1.4 -0.7 -0.8 -0.4 0.7 Net international investment position% of GDP-35%-62.5 -65.6 -69.4 -69.4 -62.1 -61.5 -61.2 -55.9 -49.8 -44.5 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-11.4 1.4 -4.3 -1.0 -1.4 -5.1 -3.5 0.1 2.8 1.1 Export market share - % of world exports5 year % change-6%14.8 0.7 -1.6 3.4 8.5 17.6 28.3 26.5 24.9 36.9 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)4.1 5.6 3.8 3.4 0.5 2.5 4.1 8.0 8.1 12.3pHouse price index (2015=100), deflated 1 year % change6%-4.7 -6.6 -4.8 1.1 2.6 2.3 1.8 4.8 6.1 7.1pPrivate sector credit flow, consolidated% of GDP14%6.6 4.8 3.2 4.8 3.5 5.3 3.0 3.7 3.6 1.5 Private sector debt, consolidated% of GDP133%74.0 73.8 75.9 78.7 79.1 81.9 76.9 76.8 73.9 75.9 General government gross debt% of GDP60%54.7 54.4 56.5 51.1 51.3 54.2 50.6 48.8 45.6 57.4 Unemployment rate3 year average10%9.2b9.8b10.0 9.8 8.9 7.6 6.2 5.0 4.0 3.5 Total financial sector liabilities, non-consolidated1 year % change16.5%6.4 9.0 6.3 1.7 2.9 9.2 4.7 3.3 4.3 11.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.9 1.8 1.7b2.2 1.6 1.8 1.7 2.0 1.8 1.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp1.2 1.6 1.4 0.2 -1.1 -2.2 -2.3 -2.0 -1.5 -0.9 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp8.5 5.9 3.6 -1.9 -5.7 -9.6 -9.1 -9.1 -7.8 -4.0 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. p:Provisional. PolandExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹1) For the employment indicators, see page 2 of the AMR 2016.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 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-8.8 -5.9 -2.0 0.1 0.7 0.5 0.9 1.0 0.8 0.0 Net international investment position% of GDP-35%-104.1 -119.3 -120.2 -123.8 -118.9 -110.5 -110.4 -106.4 -100.0 -106.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-3.0 -4.0 -0.6 -1.8 -3.1 -1.8 -0.8 3.3 -0.3 0.0 Export market share - % of world exports5 year % change-6%-9.9 -17.4 -8.4 -7.5 0.7 5.0 13.9 8.6 8.5 -0.9 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)-0.5 -6.2 -3.8 -2.9 0.2 -0.5 2.8 6.3 8.5 16.2pHouse price index (2015=100), deflated 1 year % change6%-6.5 -8.7 -2.6 4.0 2.2 6.1 7.6 8.6 8.7 7.7 Private sector credit flow, consolidated% of GDP14%-0.8 -4.3 -2.3 -6.8 -1.4 -1.8 2.9 0.8 2.6 4.4pPrivate sector debt, consolidated% of GDP133%204.6 210.6 201.6 190.1 179.3 169.3 163.0 155.1 149.5 163.7pGeneral government gross debt% of GDP60%114.4 129.0 131.4 132.9 131.2 131.5 126.1 121.5 116.6 135.2 Unemployment rate3 year average10%11.2b13.2b15.0b15.4 14.4 12.6 10.9 9.1 7.5 6.8 Total financial sector liabilities, non-consolidated1 year % change16.5%-4.9 -3.5 -5.2 -7.3 -1.4 -0.4 1.3 0.4 -0.2 7.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.3b0.0 -0.7 -0.4b0.0 0.7 1.5 1.7 1.8 -0.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp2.6b3.5 3.6 2.2 -0.5 -3.1 -3.9 -4.1 -3.4 -2.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp13.6b17.6 15.3 4.5 -5.9 -10.1 -10.9 -11.7 -9.7 -1.3 PortugalExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹1) For the employment indicators, see page 2 of the AMR 2016.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. p:Provisional.  
 
 
 
 
 
 
 
 
Table 4.23: The MIP scoreboard for Romania 

115 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-5.0 -5.1 -3.7 -2.1 -0.7 -0.9 -1.8 -3.1 -4.2 -4.9 Net international investment position% of GDP-35%-66.1 -67.8 -63.3 -57.0 -54.7 -49.2 -47.4 -43.8 -43.6 -48.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-3.2 -2.0 0.5 -1.0 2.7 -2.6 -5.6 -0.7 0.2 3.4 Export market share - % of world exports5 year % change-6%49.5 12.2 13.8 20.8 21.3 24.5 38.0 23.5 17.6 20.6 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)2.2 6.7 -4.7 6.0 0.8 10.0 16.6 29.3 26.3 26.1pHouse price index (2015=100), deflated 1 year % change6%-15.5 -8.9 -2.8 -3.3 1.6 5.2 3.3 1.7 -1.9 2.3 Private sector credit flow, consolidated% of GDP14%2.8 0.3 -1.4 -2.3 0.2 0.6 1.7 1.9 2.0 1.3pPrivate sector debt, consolidated% of GDP133%73.7 72.3 66.8 62.0 58.1 53.8 50.9 47.5 46.7 48.5pGeneral government gross debt% of GDP60%34.0 37.1 37.6 39.2 37.8 37.3 35.1 34.7 35.3 47.4 Unemployment rate3 year average10%7.0b7.0b7.0 6.9 6.9 6.5 5.9 5.0 4.3 4.4 Total financial sector liabilities, non-consolidated1 year % change16.5%4.5 4.8 0.8 1.2 4.1 7.0 8.2 3.4 10.3 13.4 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.2 1.7 0.0b1.6 1.3 0.7 1.6 1.7 3.0 1.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.5 0.8 0.8 -0.1 0.0 -0.2 -0.8 -1.2 -1.3 -0.5 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp5.3 1.8 1.6 0.1 -0.9 -3.1 -5.7 -5.5 -3.8 -1.0 RomaniaExternal imbalances and competitivenessEmployment indicators¹1) For the employment indicators, see page 2 of the AMR 2016. 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 imbalancesFigures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. p:Provisional.  
 
 
 
 
 
 
 
 
Table 4.24: The MIP scoreboard for Slovenia 

116 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-0.9 -0.1 1.3 3.2 4.1 4.6 4.9 5.6 6.1 6.4 Net international investment position% of GDP-35%-39.8 -44.0 -39.3 -38.4 -31.2 -28.8 -24.2 -18.9 -15.9 -15.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.1 -4.5 -0.6 1.2 0.3 -0.6 -2.0 2.0 1.0 1.9 Export market share - % of world exports5 year % change-6%-5.6 -20.9 -18.6 -13.2 -5.0 3.2 17.8 19.6 16.0 20.2 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)7.7 0.1 0.1 0.1 -0.1 1.3 3.6 5.7 8.2 14.9 House price index (2015=100), deflated 1 year % change6%0.9 -8.5 -7.2 -6.2 1.4 3.6 6.6 6.6 5.3 5.2 Private sector credit flow, consolidated% of GDP14%0.5 -2.8 -3.7 -4.7 -5.0 -0.8 0.9 1.3 0.8 -0.9 Private sector debt, consolidated% of GDP133%112.9 112.2 107.2 97.9 87.4 81.0 76.1 72.6 68.8 69.7 General government gross debt% of GDP60%46.5 53.6 70.0 80.3 82.6 78.5 74.2 70.3 65.6 79.8 Unemployment rate3 year average10%7.1 8.1 9.1 9.6 9.6 8.9 7.9 6.6 5.4 4.9 Total financial sector liabilities, non-consolidated1 year % change16.5%-1.2 -0.7 -10.1 -0.1 -3.8 3.4 5.3 4.1 9.9 14.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-1.5 -1.4 -1.0 0.6 1.4 1.1 3.3 3.2 3.6 0.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp1.7 2.5 2.0 1.7 0.4 -0.9 -2.2 -2.5 -2.4 -1.2 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp5.3 7.0 6.9 4.5 -4.3 -6.4 -9.0 -7.5 -7.1 3.0 1) For the employment indicators, see page 2 of the AMR 2016.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.SloveniaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 4.25: The MIP scoreboard for Slovakia 

117 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%-4.3 -2.9 -0.7 1.3 0.3 -1.2 -2.2 -2.3 -2.5 -1.8 Net international investment position% of GDP-35%-63.7 -60.7 -62.3 -63.6 -63.8 -66.8 -68.3 -69.8 -65.9 -65.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)3.4 -3.2 2.1 1.2 -1.2 -1.6 -2.0 2.5 2.6 5.3 Export market share - % of world exports5 year % change-6%-2.8 -10.4 -4.4 1.7 3.9 7.1 4.9 2.1 1.5 8.1 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)5.1 -0.1 3.4 3.0 2.4 4.0 7.7 11.6 14.3 16.4 House price index (2015=100), deflated 1 year % change6%-5.2 -5.9 -0.4 1.5 5.5 7.0 4.4 4.9 6.2 7.2 Private sector credit flow, consolidated% of GDP14%4.6 1.9 5.0 5.0 5.0 9.2 5.0 7.3 4.3 3.7 Private sector debt, consolidated% of GDP133%68.6 71.1 75.3 79.1 80.4 88.2 90.0 91.9 92.1 95.3 General government gross debt% of GDP60%43.3 51.9 54.9 53.7 51.8 52.4 51.6 49.6 48.1 59.7 Unemployment rate3 year average10%13.3b14.0b13.9b13.8 13.0 11.5 9.8 8.1 6.8 6.3 Total financial sector liabilities, non-consolidated1 year % change16.5%0.6 1.1 1.4 9.4 10.4 8.6 16.6 9.0 5.6 9.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.1b1.0 1.2 1.6b1.5 2.0 1.8 1.5 0.8 0.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp2.6b2.9 0.8 0.1 -1.8 -4.2 -4.2 -3.6 -2.4 -1.9 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp14.4b6.7 0.1 -3.7 -7.5 -11.5 -10.8 -11.6 -6.1 0.4 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. SlovakiaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹1) For the employment indicators, see page 2 of the AMR 2016.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 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%0.7 -0.7 -1.8 -1.7 -1.4 -1.4 -1.2 -1.5 -1.0 -0.4 Net international investment position% of GDP-35%13.9 10.6 3.0 -3.1 4.8 5.5 1.2 -5.6 4.0 -5.3 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-2.8 -8.3 0.2 2.7 2.1 0.4 -2.6 2.9 0.1 2.3 Export market share - % of world exports5 year % change-6%-23.5 -32.4 -32.7 -27.5 -23.2 -15.9 -5.3 -4.1 3.3 12.3 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)9.0 5.8 9.3 7.6 3.3 0.3 -3.7 -2.0 1.1 6.1 House price index (2015=100), deflated 1 year % change6%-0.1 -0.4 -1.3 -1.6 -0.5b0.6 0.5 -0.2 0.0 1.3 Private sector credit flow, consolidated% of GDP14%5.3 7.1 2.8 1.7 6.9 1.3 8.3 4.3 6.5 6.5 Private sector debt, consolidated% of GDP133%144.6 147.7 147.0 148.8 152.1 148.1 147.7 144.5 146.6 155.2 General government gross debt% of GDP60%48.3 53.6 56.2 59.8 63.6 63.2 61.2 59.8 59.5 69.5 Unemployment rate3 year average10%8.1 8.0 7.9 8.2 8.8 9.0 8.9 8.3 7.6 7.3 Total financial sector liabilities, non-consolidated1 year % change16.5%28.7 -1.3 -11.5 9.4 1.4 3.8 -4.1 20.1 7.8 7.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-1.1 0.2 0.7 0.5 0.6 0.7 1.3 2.1 2.4 1.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.5 0.2 -0.3 0.2 0.7 0.6 0.2 -0.7 -1.1 -0.9 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp3.6 -2.5 -1.5 0.4 3.4 0.2 -0.4 -5.4 -2.9 1.3 Employment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. Internal imbalancesFinlandExternal imbalances and competitiveness1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index b = break in time series due to new calculation method for New dwellings (apartments). 3) Total financial sector liabilities, 2018: the increase is largely explained by international group changes in the deposit-taking corporations sector.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 4.27: The MIP scoreboard for Sweden 

119 

Thresholds2011201220132014201520162017201820192020Current account balance, % of GDP 3 year average-4%/+6%5.8 5.6 5.4 5.0 4.3 3.3 2.9 2.7 3.7 4.6 Net international investment position% of GDP-35%-8.3 -15.5 -17.2 -3.7 -6.6 -3.5 -1.2 8.0 17.7 16.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)3.2 10.3 5.1 -3.7 -8.3 -9.2 -5.5 -4.0 -8.3 -4.8 Export market share - % of world exports5 year % change-6%-12.2 -19.6 -16.9 -10.1 -10.5 -9.5 -5.7 -6.7 -2.8 4.5 Nominal unit labour cost index (2010=100)3 year % change9% (EA) 12% (Non-EA)4.3 4.1 8.7 7.4 2.5 3.1 4.0 8.0 7.1 9.4 House price index (2015=100), deflated 1 year % change6%1.2 0.7 4.5 8.3 12.0 7.3 4.8 -3.3 0.4 3.0 Private sector credit flow, consolidated% of GDP14%6.9 2.3 4.6 4.5 7.5 8.4 13.1 9.0 9.9 11.6 Private sector debt, consolidated% of GDP133%188.0 191.0 193.8 193.1 190.9 192.4 198.6 201.0 203.2 215.7 General government gross debt% of GDP60%37.2 37.5 40.3 45.0 43.7 42.3 40.7 38.9 34.9 39.7 Unemployment rate3 year average10%8.3 8.1 8.0 8.0 7.8 7.5 7.0 6.7b6.6b7.2bTotal financial sector liabilities, non-consolidated1 year % change16.5%1.9 5.6 9.8 12.6 1.8 9.1 6.9 -2.7 10.7 11.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.6 1.4 2.0 1.6 1.4 1.0 1.0 1.0b0.8 0.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp0.5 pp0.7 0.4 -0.2 -0.1 0.0 -0.1 -0.2 -0.4b-0.4 -0.1 Youth unemployment rate - % of active population aged 15-243 year change in pp2 pp2.6 -1.4 -1.3 0.1 -3.2 -4.6 -5.0 -3.0b1.2 6.0 1) For the employment indicators, see page 2 of the AMR 2016.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)SwedenExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series.  
 
 
 
 
 
 
 
 
Chapter 5: Tables by Member State - Auxiliary indicators used in the economic reading of the MIP scoreboard 
Table 5.1: Auxiliary indicators for Belgium 

120 

Belgium2011201220132014201520162017201820192020Real GDP (1 year % change) 1.7 0.7 0.5 1.6 2.0 1.3 1.6 1.8 2.1 -5.7pGross fixed capital formation (% of GDP)23.0 23.0 22.2 22.8 23.0 23.3 23.3 23.6 24.2 23.9pGross domestic expenditure on R&D (% of GDP)2.2 2.3 2.3 2.4 2.4 2.5 2.7 2.7e2.9pnaCurrent plus capital account (net lending-borrowing) (% of GDP)-2.0 0.6 0.9 0.6 1.4 0.7 0.8 -0.7 0.3 0.8 Net international investment position excluding non-defaultable instruments (% of GDP) 63.9 58.6 58.5 51.8 51.7 52.2 44.7 34.4 38.8 37.8 Foreign direct investment in the reporting economy, flows (% of GDP)31.5 2.4 -5.6 -2.7 -4.3 12.2 -7.2 -7.7 -5.5 -3.6 Foreign direct investment in the reporting economy, stocks (% of GDP)242.2 244.0 231.9 226.9 225.3 221.9 201.4 187.5 182.1 174.8 Net trade balance of energy products (% of GDP)-4.7 -5.0 -4.5 -3.8 -2.7 -2.2 -2.5 -3.4 -2.6 -1.7pReal effective exchange rate - euro area trading partners (3 year % change)1.3 1.9 0.6 -0.1 0.1 1.9 2.6 2.8 1.1 0.4 Export performance against advanced economies (5 year % change)-0.6 -8.7 -7.6 -8.3 -13.3 -7.9 -0.3 -3.5 -4.1 11.4 Terms of trade (5 year % change)-2.7 -2.8 0.2 -2.5 0.3 2.6 2.1 0.9 1.3 0.8pExport market share in volume (1 year % change)-2.3 -3.7 -3.2 1.6 0.6 3.9 0.1 -3.1 1.1 2.4pLabour productivity (1 year % change)0.4 0.3 0.8 1.2 1.2 0.0 0.1 0.3 0.5 -5.6pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanana4.3e3.8e3.2e2.7e2.3e2.1e2.1pUnit labour cost performance relative to EA (10 year % change)0.7 1.1 2.9 3.3 1.9 0.0 0.8 -1.2 0.4 0.5 House price index (2015=100) - nominal (3 year % change)6.8 9.7 7.6 2.9 2.3 3.8 8.2 9.4 10.9 11.5 Residential construction (% of GDP)5.8 5.9 5.7 5.9 5.7 5.7 5.7 5.9 6.1 6.2pHousehold debt, consolidated (incl. NPISH, % of GDP)54.8 55.1 55.7 57.5 57.9 58.2 58.9 58.9 60.6 66.4 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)21.7e17.4e15.7e15.1e14.7e14.2e13.2e13.1e13.4e14.2pFlags:e:Estimated. p:Provisional. 1) Official transmission deadline for 2020 data on Gross domestic expenditure on R&D is 31 October 2021 while data were extracted on 22 October 2021.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
Table 5.1 (continued): Auxiliary indicators for Belgium 

121 

20112012201320142015201620172018201920201 year % change1.3 0.4 -0.3 0.4 0.9 1.3 1.6 1.5 1.6 0.0p%66.7 66.9 67.5 67.7 67.6 67.6 68.0b68.6 69.0 68.6 %3.5 3.4 3.9 4.3 4.4 4.0 3.5b2.9 2.3 2.3 %18.7 19.8 23.7 23.2 22.1 20.1 19.3b15.8 14.2 15.3 %11.8b12.3 12.7 12.0 12.2 9.9 9.3b9.2 9.3 9.2 3 year change in pp1.7b1.2 1.8 0.2b-0.1 -2.8 -2.7b-3.0 -0.6 -0.1b%21.0 21.6 20.8 21.2 21.1 20.9 20.6 20.0 19.5b18.9b3 year change in pp0.2 1.4 0.0 0.2 -0.5 0.1 -0.6 -1.1 -1.4b-1.7b%15.3 15.3 15.1 15.5 14.9 15.5 15.9 16.4 14.8b14.1b3 year change in pp0.6 0.7 0.5 0.2 -0.4 0.4 0.4 1.5 -0.7b-1.8b%5.7 6.3 5.1 5.9 5.8 5.5 5.2 5.0 4.4b3.9b3 year change in pp0.1 1.1 -0.8 0.2 -0.5 0.4 -0.7 -0.8 -1.1b-1.3b%13.8 13.9 14.0 14.6 14.9 14.9 13.9 12.6 12.4b11.9b3 year change in pp2.1 1.6 1.3 0.8 1.0 0.9 -0.7 -2.3 -2.5b-2.0bPeople at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. 1) Labour Force Survey indicators, b = change in the survey methodology. 2) Income and Living Conditions indicators, 2019, b = major substantive and methodological changes.Source: European Commission, EurostatBelgiumEmploymentActivity 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 15-24People 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 5.2: Auxiliary indicators for Bulgaria 

122 

Bulgaria2011201220132014201520162017201820192020Real GDP (1 year % change) 2.1 0.8 -0.6 1.0 3.4 3.0 2.8 2.7 4.0 -4.4 Gross fixed capital formation (% of GDP)20.8 21.1 21.2 21.1 20.9 18.4 18.3 18.8 18.6 19.2 Gross domestic expenditure on R&D (% of GDP)0.5 0.6 0.6 0.8 1.0 0.8 0.7 0.8 0.8 0.9pCurrent plus capital account (net lending-borrowing) (% of GDP)1.5 0.4 2.4 3.5 3.1 5.3 4.3 2.0 3.3 1.3 Net international investment position excluding non-defaultable instruments (% of GDP) -1.9 4.2 7.3 10.8 21.4 30.1 32.9 36.4 40.2 47.1 Foreign direct investment in the reporting economy, flows (% of GDP)3.7 3.3 3.6 1.9 4.4 2.7 3.3 2.7 3.2 3.9 Foreign direct investment in the reporting economy, stocks (% of GDP)87.4 89.5 89.2 92.8 92.5 89.4 86.4 84.5 81.2 84.8 Net trade balance of energy products (% of GDP)-6.2 -6.8 -6.2 -5.6 -3.8 -2.4 -3.0 -3.4 -3.0 -2.1 Real effective exchange rate - euro area trading partners (3 year % change)3.9 1.9 -0.4 -3.0 -4.1 -4.8 -3.2 -1.1 1.7 3.0 Export performance against advanced economies (5 year % change)19.8 7.0 6.0 11.7 13.5 6.1 17.9 10.5 13.3 16.6 Terms of trade (5 year % change)11.5 5.9 4.2 3.0 3.6 3.1 5.7 7.5 8.9 12.7 Export market share in volume (1 year % change)5.7 -1.2 6.0 -0.5 3.3 6.3 0.4 -2.0 3.1 -4.2 Labour productivity (1 year % change)4.4 3.3 -0.1 0.6 3.1 2.5 1.0 2.8 3.7 -2.1 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana16.0e14.5e12.8e10.2e7.7e6.5e5.9pUnit labour cost performance relative to EA (10 year % change)34.9 42.1 53.2 56.2 54.3 53.4 53.9 47.8 42.9 39.2 House price index (2015=100) - nominal (3 year % change)-32.4e-16.7e-9.3 -2.7 2.0b11.6 19.5 24.0 22.8 18.2pResidential construction (% of GDP)2.2 1.7 1.7 1.6 1.4 2.7 2.8 2.7 2.8 2.9 Household debt, consolidated (incl. NPISH, % of GDP)26.5 25.5 25.6 25.2 23.3 22.7 22.6 23.0 23.1 24.7 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)7.4e7.6e7.8e7.9e7.7e7.7e7.7e7.5e8.2e7.9pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index e = NSI estimates; b = break in time series due to full implementation of harmonised EU methodology. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.2 (continued): Auxiliary indicators for Bulgaria 

123 

20112012201320142015201620172018201920201 year % change-2.2 -2.5 -0.4 0.4 0.4 0.5 1.8 -0.1 0.3 -2.3 %65.9b67.1 68.4 69.0 69.3 68.7 71.3 71.5 73.2 72.2 %6.3b6.8 7.4 6.9 5.6 4.5 3.4 3.0 2.4 2.3 %25.0b28.1 28.4 23.8 21.6 17.2 12.9 12.7 8.9 14.2 %21.8 21.5 21.6 20.2 19.3 18.2 15.3 15.0 13.7 14.4 3 year change in pp4.4b2.0 0.6b-1.6 -2.2 -3.4 -4.9 -4.3 -4.5 -0.9 %49.1 49.3 48.0 40.1b41.3 40.4b38.9 32.8 32.8 32.1 3 year change in pp4.3b3.1 -1.2 -9.0b-8.0 -7.6b-1.2b-8.5 -7.6b-6.8 %22.2 21.2 21.0 21.8 22.0 22.9b23.4 22.0 22.6 23.8 3 year change in pp0.8 -0.6 0.3 -0.4 0.8 1.9b1.6 0.0 -0.3b0.4 %43.6 44.1 43.0 33.1 34.2 31.9b30.0 20.9 20.9 19.4 3 year change in pp2.4 2.2 -2.7 -10.5 -9.9 -11.1b-3.1 -13.3 -11.0b-10.6 %11.0 12.5 13.0 12.1 11.6 11.9b11.1 9.0 9.3 8.5 3 year change in pp2.9b5.6 5.0 1.1 -0.9 -1.1b-1.0 -2.6 -2.6b-2.6 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1) Income and Living Conditions indicators, b = increase of rotational groups from 4 to 6 in 2016 leads to increase of overall sample size. The number of pensioners (from National Social Security Institute) was used as calibration variable for the first time. Source: European Commission, EurostatBulgariaEmploymentActivity 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 15-24People 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 5.3: Auxiliary indicators for Czech Republic 

124 

Czech Republic2011201220132014201520162017201820192020Real GDP (1 year % change) 1.8 -0.8 0.0 2.3 5.4 2.5 5.2 3.2 3.0 -5.8 Gross fixed capital formation (% of GDP)26.8 26.2 25.4 25.4 26.5 24.9 24.9 26.3 27.1 26.2 Gross domestic expenditure on R&D (% of GDP)1.5 1.8 1.9 2.0 1.9 1.7 1.8 1.9 1.9p2.0pCurrent plus capital account (net lending-borrowing) (% of GDP)-1.8 -0.3 1.5 0.9 2.6 2.9 2.4 0.7 0.8 4.8 Net international investment position excluding non-defaultable instruments (% of GDP) 7.7 9.3 14.8 19.0 20.3 27.6 26.5 27.9 30.2 36.9 Foreign direct investment in the reporting economy, flows (% of GDP)1.9 4.5 3.5 3.9 0.9 5.5 5.2 3.4 4.3 2.5 Foreign direct investment in the reporting economy, stocks (% of GDP)69.1 74.2 76.6 76.7 75.3 78.0 77.3 78.9 77.1 81.5 Net trade balance of energy products (% of GDP)-4.3 -4.6 -4.7 -3.9 -2.4 -2.0 -2.5 -2.9 -2.4 -1.5 Real effective exchange rate - euro area trading partners (3 year % change)0.8 5.6 -2.4 -10.1 -8.2 -3.8 5.6 7.6 7.5 3.7 Export performance against advanced economies (5 year % change)15.8 3.3 -4.3 -0.8 -1.5 -0.4 6.4 8.6 3.2 10.6 Terms of trade (5 year % change)-1.7 -3.3 -1.0 -1.6 0.8 3.4 3.0 1.9 0.9 2.2 Export market share in volume (1 year % change)2.3 1.1 -3.3 5.1 2.9 2.0 1.8 0.0 0.6 1.0 Labour productivity (1 year % change)2.0 -1.2 -0.4 1.7 3.9 0.9 3.6 1.8 2.8 -4.2 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanananana4.0e2.8e2.1e1.7e1.9pUnit labour cost performance relative to EA (10 year % change)7.5 3.5 1.1 -1.1 -1.2 0.4 1.2 4.8 9.4 10.9 House price index (2015=100) - nominal (3 year % change)-5.5 -3.1 -1.4 0.9 6.5 14.2 24.4 30.0 32.4 28.6 Residential construction (% of GDP)4.2 4.1 3.8 3.8 3.8 3.8 4.2 4.3 4.4 4.8 Household debt, consolidated (incl. NPISH, % of GDP)29.8 30.7 31.4 30.2 30.2 31.1 31.5 31.8 31.6 34.0 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)11.8e10.4e10.8e10.0e10.1e10.7e12.4e12.5e12.1e12.1pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
Table 5.3 (continued): Auxiliary indicators for Czech Republic 

125 

20112012201320142015201620172018201920201 year % change-0.3 0.4 0.3 0.6 1.4 1.6 1.5 1.3 0.2 -1.7 %70.5b71.6 72.9 73.5 74.0 75.0 75.9 76.6 76.7 76.4 %2.7b3.0 3.0 2.7 2.4 1.7 1.0 0.7 0.6 0.6 %18.1b19.5 19.0 15.9 12.6 10.5 7.9 6.7 5.6 8.0 %8.3b8.9 9.1b8.1 7.5 7.0 6.3 5.6 5.7 6.6 3 year change in pp1.6b0.4 0.3b-0.2b-1.4 -2.1b-1.8 -1.9 -1.3 0.3 %15.3 15.4 14.6 14.8 14.0 13.3 12.2 12.2 12.5 11.9 3 year change in pp0.0 1.4 0.2 -0.5 -1.4 -1.3 -2.6 -1.8 -0.8 -0.3 %9.8 9.6 8.6 9.7 9.7 9.7 9.1 9.6 10.1 9.5 3 year change in pp0.8 1.0 -0.4 -0.1 0.1 1.1 -0.6 -0.1 0.4 0.4 %6.1 6.6 6.6 6.7 5.6 4.8 3.7 2.8 2.7 2.4 3 year change in pp-0.7 0.5 0.4 0.6 -1.0 -1.8 -3.0 -2.8 -2.1 -1.3 %6.6 6.8 6.9 7.6 6.8 6.7 5.5 4.5 4.2 4.4 3 year change in pp-0.6 0.8 0.5 1.0 0.0 -0.2 -2.1 -2.3 -2.5 -1.1 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. Source: European Commission, EurostatCzech RepublicEmploymentActivity 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 15-24People 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 5.4: Auxiliary indicators for Denmark 

126 

Denmark2011201220132014201520162017201820192020Real GDP (1 year % change) 1.3 0.2 0.9 1.6 2.3 3.2 2.8 2.0 2.1 -2.1 Gross fixed capital formation (% of GDP)18.2 18.8 19.1 19.2 19.9 21.0 21.2 21.7 21.3 22.4 Gross domestic expenditure on R&D (% of GDP)2.9 3.0 3.0 2.9 3.1 3.1 2.9 3.0 2.9p3.0pCurrent plus capital account (net lending-borrowing) (% of GDP)6.9 6.3 7.7 8.7 7.9 7.8 8.1 7.3 8.8 8.1 Net international investment position excluding non-defaultable instruments (% of GDP) -12.0 -2.7 -3.6 11.4 9.6 15.5 18.6 15.9 28.9 30.0 Foreign direct investment in the reporting economy, flows (% of GDP)3.8 -4.9 0.2 2.0 0.6 2.5 1.0 2.5 -1.0 0.4 Foreign direct investment in the reporting economy, stocks (% of GDP)43.9 43.6 41.8 49.8 50.0 56.3 53.9 57.8 56.3 58.4 Net trade balance of energy products (% of GDP)0.7 0.8 0.3 0.0 0.0 0.0 -0.1 -0.2 -0.4 -0.4 Real effective exchange rate - euro area trading partners (3 year % change)1.5 0.7 -1.3 -1.4 -1.5 -0.4 -0.7 -1.8 -2.5 -2.0 Export performance against advanced economies (5 year % change)-7.1 -11.0 -12.8 -11.0 -8.2 -5.8 -0.3 -2.2 1.0 12.0 Terms of trade (5 year % change)2.0 3.1 2.4 3.7 1.6 3.4 2.8 1.0 -0.7 1.2 Export market share in volume (1 year % change)0.3 -2.0 -2.0 -0.5 0.5 1.8 -0.6 -0.3 4.1 0.9 Labour productivity (1 year % change)1.4 0.9 0.9 0.7 1.0 1.5 1.3 0.5 0.8 -1.4 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana5.1e3.9e3.3e2.5e2.3e1.9e1.9pUnit labour cost performance relative to EA (10 year % change)8.1 5.4 4.5 5.2 4.0 1.5 -2.7 -5.2 -7.4 -8.1 House price index (2015=100) - nominal (3 year % change)-11.0 -1.7 -0.6 4.9 15.3 16.8 17.7 14.8 11.7 12.3 Residential construction (% of GDP)4.3 4.1 3.7 3.9 4.0 4.2 4.6 4.8 5.0 5.5 Household debt, consolidated (incl. NPISH, % of GDP)138.4 136.3 133.3 131.5 128.9 116.4 113.8 111.9 110.2 111.7 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)21.1e20.3e18.4e18.4e16.7e16.7e16.4e16.4e16.7e17.4pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.4 (continued): Auxiliary indicators for Denmark 

127 

20112012201320142015201620172018201920201 year % change0.0 -0.7 0.0 0.9 1.4 1.7 1.5 1.5 1.4 -0.7 %77.8 77.2 76.6 76.6 76.9 77.5b77.9b78.2 79.1 79.0 %1.8 2.1 1.8 1.7 1.6 1.2b1.2b1.0 0.8 0.9 %16.4 15.8 14.8 14.2 12.2 12.2b12.4b10.5 10.1 11.6 %7.2 7.3 6.6 6.4 7.0 6.7b7.6b7.7 7.7 7.4 3 year change in pp2.0b0.8 -0.3 -0.8 -0.3 0.1b1.2b0.7 1.0b-0.2b%17.6b17.5 18.3 17.9 17.7 16.8 17.2 17.0 16.3 15.9b3 year change in pp1.3b-0.1 0.0 0.3b0.2 -1.5 -0.7 -0.7 -0.5 -1.3b%12.1 12.0 11.9 12.1 12.2 11.9 12.4 12.7 12.5 12.1b3 year change in pp0.3 -1.1 -1.4 0.0 0.2 0.0 0.3 0.5 0.6 -0.3b%2.3 2.7 3.6 3.2 3.7 2.6 3.1 3.4 2.6 2.4 3 year change in pp0.3 0.4 0.9 0.9 1.0 -1.0 -0.1 -0.3 0.0 -0.7 %10.5 10.2 11.9 12.2 11.6 10.7 10.0 9.8 9.3 9.1 3 year change in pp2.0 1.4 1.3 1.7 1.4 -1.2 -2.2 -1.8 -1.4 -0.9 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1) Labour Force Survey indicators, b = improvement in the data collection and introduction of CAWI (computer-assisted web interviewing) technique.Source: European Commission, EurostatDenmarkEmploymentActivity 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 15-24People 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 5.5: Auxiliary indicators for Germany 

128 

Germany2011201220132014201520162017201820192020Real GDP (1 year % change) 3.9 0.4 0.4 2.2 1.5 2.2 2.7 1.1p1.1p-4.6pGross fixed capital formation (% of GDP)20.4 20.3 19.9 20.0 20.0 20.3 20.4 21.1p21.4p21.9pGross domestic expenditure on R&D (% of GDP)2.8 2.9 2.8 2.9 2.9 2.9 3.1 3.1 3.2e3.1pCurrent plus capital account (net lending-borrowing) (% of GDP)6.2 7.1 6.5 7.3 8.6 8.6 7.7 7.9 7.4 6.8 Net international investment position excluding non-defaultable instruments (% of GDP) 15.5 22.1 29.5 31.7 34.5 37.9 42.9 45.8 51.1 53.2 Foreign direct investment in the reporting economy, flows (% of GDP)2.6 1.8 1.8 0.5 1.9 1.8 3.0 4.0 1.7 2.9 Foreign direct investment in the reporting economy, stocks (% of GDP)35.9 40.0 41.3 41.3 42.2 42.9 43.8 45.3 45.0 49.8 Net trade balance of energy products (% of GDP)-3.6 -3.6 -3.4 -2.8 -2.0 -1.5 -1.7 -2.0p-1.8p-1.3pReal effective exchange rate - euro area trading partners (3 year % change)-1.0 -1.3 -0.7 0.0 1.0 1.0 0.8 0.4 0.3 0.1 Export performance against advanced economies (5 year % change)-2.3 -10.0 -7.7 -4.3 -2.8 -1.0 3.7 1.0 -2.9 1.8 Terms of trade (5 year % change)-1.7 -2.3 0.4 -2.6 1.9 6.4 5.7 3.8p3.2p2.9pExport market share in volume (1 year % change)1.4 -0.3 -2.6 1.2 2.3 0.2 -0.5 -1.4p0.2p-1.4pLabour productivity (1 year % change)2.7 -0.7 -0.3 1.3 0.5 1.0 1.3 -0.3p0.1p-3.8pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanana3.9e3.0e2.6e1.8e1.4e1.2e1.2pUnit labour cost performance relative to EA (10 year % change)-12.8 -9.7 -7.3 -4.5 0.5 5.1 8.4 11.7 10.6 11.2 House price index (2015=100) - nominal (3 year % change)5.5 8.2 10.4 10.0 11.4 16.1 19.5 21.7 19.7 21.6 Residential construction (% of GDP)5.6 5.9 5.9 5.9 5.8 6.0 6.0 6.2p6.4p7.0pHousehold debt, consolidated (incl. NPISH, % of GDP)57.1 56.6 55.7 54.2 53.6 53.3 52.9 52.6 53.4 57.7 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)25.7e23.5e20.3e19.2e18.6e18.4e14.1e13.9e13.7e14.4pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.5 (continued): Auxiliary indicators for Germany 

129 

20112012201320142015201620172018201920201 year % change1.2 1.1 0.8 0.9 0.9 1.2 1.4 1.4p0.9p-0.8p%77.3b77.2 77.6 77.7 77.6 77.9 78.2 78.6 79.2 79.3bp%2.8b2.4 2.3 2.2 2.0 1.7 1.6 1.4 1.2 1.1bp%8.5b8.0 7.8 7.7 7.2 7.1 6.8 6.2 5.8 7.4bp%7.5b7.1 6.3 6.4 6.2 6.7 6.3 5.9 5.7 7.3bp3 year change in pp-0.9b-1.7 -2.0b-1.1b-0.9 0.4 -0.1 -0.3 -1.0 1.0bp%19.9 19.6 20.3 20.6 20.0 19.7 19.0 18.7 17.4 24.0b3 year change in pp-0.2 -0.4 0.6 0.7 0.4 -0.6 -1.6 -1.3 -2.3 5.0b%15.8 16.1 16.1 16.7 16.7 16.5 16.1 16.0 14.8 18.5b3 year change in pp0.6 0.6 0.5 0.9 0.6 0.4 -0.6 -0.7 -1.7 2.4b%5.3 4.9 5.4 5.0 4.4 3.7 3.4 3.1 2.6 6.6bu3 year change in pp-0.2 -0.5 0.9 -0.3 -0.5 -1.7 -1.6 -1.3 -1.1 3.2bu%11.2 9.9 9.9 10.0 9.8 9.6 8.7 8.1 7.6 9.5b3 year change in pp-0.5 -1.0 -1.3 -1.2 -0.1 -0.3 -1.3 -1.7 -2.0 0.8bPeople at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. u:Low reliability. 1)LabourForceSurveyindicators,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditional data from other integrated household surveys. 2) Income and Living Conditions indicators, 2020, b = major substantive and methodological changes.Source: European Commission, EurostatGermanyEmploymentActivity 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 15-24People 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 5.6: Auxiliary indicators for Estonia 

130 

Estonia2011201220132014201520162017201820192020Real GDP (1 year % change) 7.3 3.2 1.5 3.0 1.9 3.2 5.8 4.1 4.1 -3.0 Gross fixed capital formation (% of GDP)26.5 28.7 27.9 25.7 24.5 24.4 25.9 24.7 25.4 30.7 Gross domestic expenditure on R&D (% of GDP)2.3 2.1 1.7 1.4 1.5 1.2 1.3 1.4 1.6p1.8pCurrent plus capital account (net lending-borrowing) (% of GDP)5.4 1.5 2.9 1.8 3.8 2.3 3.2 2.2 4.3 1.9 Net international investment position excluding non-defaultable instruments (% of GDP) -1.7 3.3 7.4 12.8 16.7 18.1 19.8 24.6 30.9 42.3 Foreign direct investment in the reporting economy, flows (% of GDP)4.9 7.8 4.4 6.6 -3.2 3.8 6.5 4.0 9.8 11.4 Foreign direct investment in the reporting economy, stocks (% of GDP)89.9 94.3 98.9 103.8 98.0 98.5 95.5 94.4 98.8 113.5 Net trade balance of energy products (% of GDP)-0.4 -1.3 -2.2 -2.1 -1.5 -1.0 -0.6 -1.0 -1.3 -0.5 Real effective exchange rate - euro area trading partners (3 year % change)2.8 5.2 5.3 3.1 1.5 0.2 2.3 4.1 4.4 1.3 Export performance against advanced economies (5 year % change)34.1 15.6 16.7 27.5 7.7 -3.7 -0.1 -2.5 0.2 18.1 Terms of trade (5 year % change)1.0 -1.5 -0.7 0.4 2.9 3.7 4.1 2.9 1.0 1.4 Export market share in volume (1 year % change)17.3 1.6 -0.8 -1.0 -4.6 2.5 -0.6 0.2 5.6 2.9 Labour productivity (1 year % change)0.7 1.6 0.2 2.2 -1.0 2.9 3.0 3.2 2.8 -0.3 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana3.2e2.2e1.7e1.9e1.3e1.6e1.6pUnit labour cost performance relative to EA (10 year % change)41.7 42.0 42.3 41.1 44.9 32.2 23.9 16.3 21.6 23.4 House price index (2015=100) - nominal (3 year % change)-28.0 23.0 28.8 35.0 34.5 27.3 18.1 17.1 19.6 20.2 Residential construction (% of GDP)2.7 2.9 3.4 3.8 4.0 4.4 4.6 4.5 4.9 5.5 Household debt, consolidated (incl. NPISH, % of GDP)45.6 42.0 40.1 38.9 39.8 40.0 39.4 38.7 38.6 41.8 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)8.1e7.1e6.8e6.6e7.7e7.7e6.8e6.9e7.5e8.8pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.6 (continued): Auxiliary indicators for Estonia  

131 

20112012201320142015201620172018201920201 year % change6.5 1.6 1.2 0.8 2.9 0.3 2.7 0.9 1.3 -2.7 %74.7 74.8 75.1 75.2 76.7 77.5 78.8 79.1 78.9 79.3 %7.1 5.5 3.8 3.3 2.4 2.1 1.9 1.3 0.9 1.2 %22.4 20.9 18.7 15.0 13.1 13.4 12.1 11.8 11.1 17.9 %11.6 12.2 11.3 11.7 10.8 9.1 9.4 9.8 6.9 8.9 3 year change in pp2.9 -2.3b-2.7 0.1 -1.4 -2.2 -2.3 -1.0 -2.2 -0.5 %23.1 23.4 23.5 26.0b24.2 24.4 23.4 24.4 24.3 23.3 3 year change in pp1.3 0.0 1.8 2.9b0.8 0.9 -2.6b0.2 -0.1 -0.1 %17.5 17.5 18.6 21.8 21.6 21.7 21.0 21.9 21.7 20.7 3 year change in pp-2.0 -2.2 2.8 4.3 4.1 3.1 -0.8 0.3 0.0 -0.3 %8.7 9.4 7.6 6.2 4.5 4.7 4.1 3.8 3.3 2.8 3 year change in pp3.8 3.2 -1.4 -2.5 -4.9 -2.9 -2.1 -0.7 -1.4 -1.3 %10.0 9.1 8.4 7.6b6.6 5.8 5.8 5.2 5.4 4.7 3 year change in pp4.7 3.5 -0.6 -2.4b-2.5 -2.6 -1.8b-1.4 -0.4 -1.1 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. Source: European Commission, EurostatEstoniaEmploymentActivity 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 15-24People 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 5.7: Auxiliary indicators for Ireland 

132 

Ireland2011201220132014201520162017201820192020Real GDP (1 year % change) 1.1 -0.1 1.3 8.7 25.2 2.0 8.9 9.0 4.9 5.9 Gross fixed capital formation (% of GDP)16.7 19.6 18.6 20.6 24.1 35.8 33.3 28.2 53.6 39.7 Gross domestic expenditure on R&D (% of GDP)1.6e1.6e1.6e1.5 1.2 1.2 1.2 1.1 0.8 1.2pCurrent plus capital account (net lending-borrowing) (% of GDP)-1.5 -3.3 1.0 -2.4 3.9 -5.8 -8.2 -10.7 -29.8 -6.8 Net international investment position excluding non-defaultable instruments (% of GDP) -238.1 -256.2 -310.7 -351.9 -243.3 -249.3 -264.7 -250.3 -282.8 -292.9 Foreign direct investment in the reporting economy, flows (% of GDP)15.2 25.8 29.6 38.4 82.0 34.8 19.2 19.0 7.1 8.2 Foreign direct investment in the reporting economy, stocks (% of GDP)312.8 337.1 348.3 388.2 497.7 517.9 479.1 487.7 469.2 428.5 Net trade balance of energy products (% of GDP)-3.3 -3.0 -3.2 -2.7 -1.5 -1.1 -1.2 -1.4 -1.2 -0.7 Real effective exchange rate - euro area trading partners (3 year % change)-6.5 -5.1 -3.1 -1.8 -1.5 -1.1 -2.2 -3.0 -2.9 -2.5 Export performance against advanced economies (5 year % change)-3.3 -11.7 -5.1 -9.7 38.3 53.8 67.8 74.5 70.4 50.7 Terms of trade (5 year % change)-1.3 -3.6 -4.8 -5.3 1.9 -0.3 -0.1 -1.3 2.0 -3.0 Export market share in volume (1 year % change)-3.8 -4.0 -0.6 11.0 36.1 2.3 4.2 7.8 9.5 17.4 Labour productivity (1 year % change)3.3 0.5 -1.6 5.9 20.8 -1.6 5.8 5.7 2.0 7.5 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana21.6e14.9e13.1e9.9e5.5e3.4e3.4pUnit labour cost performance relative to EA (10 year % change)-4.0 -4.0 -7.1 -13.2 -29.7 -29.7 -34.6 -40.1 -35.4 -35.4 House price index (2015=100) - nominal (3 year % change)-42.0 -37.9 -27.3 2.1 31.5 39.6 32.8 31.3 25.1 13.2 Residential construction (% of GDP)2.0 1.5 1.6 1.8 1.5 1.8 2.1 2.3 2.3 2.1 Household debt, consolidated (incl. NPISH, % of GDP)104.2 98.3 93.3 81.0 56.5 52.4 46.8 43.0 38.7 35.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)17.7e15.8e15.0e9.1e7.8e7.4e6.6e6.7e7.4e8.8pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.7 (continued): Auxiliary indicators for Ireland   

133 

20112012201320142015201620172018201920201 year % change-2.2 -0.5 2.9 2.7 3.6 3.7 3.0 3.2 2.9 -1.5 %71.2 71.1 71.8 71.8 72.1 72.7 72.7 72.9 73.3 71.9 %8.8 9.2 8.0 6.6 5.3 4.2 3.0 2.1 1.6 1.3 %29.6 30.8 26.7 23.4 20.2 16.8 14.4 13.8 12.5 15.3 %19.1 19.2 16.4 15.3 14.3 12.6 10.9b10.1 10.1 12.0 3 year change in pp5.2 0.9 -3.0 -3.8 -4.9 -3.8 -4.4b-4.2 -2.5 1.1b%30.9 30.1 29.9 28.3 26.2 24.4 22.7 21.1 20.6 na3 year change in pp7.2 4.4 2.6 -2.6 -3.9 -5.5 -5.6 -5.1 -3.8 na%15.2 16.3 15.7 16.8 16.2 16.8 15.6 14.9 13.1 na3 year change in pp-0.3 1.3 0.5 1.6 -0.1 1.1 -1.2 -1.3 -3.7 na%7.8 9.9 9.9 9.2 8.5 6.7 5.2 4.9 5.4 na3 year change in pp2.3 3.8 4.2 1.4 -1.4 -3.2 -4.0 -3.6 -1.3 na%26.9 23.4 23.9 21.0 18.7 17.8 16.2 13.0 13.6 na3 year change in pp13.2 3.4 1.0 -5.9 -4.7 -6.1 -4.8 -5.7 -4.2 naPeople at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1)Youngpeopleneitherinemploymentnorineducationandtraining,b=introductionoftheLabourForceSurveyinsubstitutiontotheQuarterlyNationalHouseholdSurvey(QNHS)asdatasource.2)Officialtransmissiondeadlinefor2020datafortheIncomeandLivingConditions(EU-SILC) indicators is 30 November 2021 while data were extracted on 22 October 2021.Source: European Commission, EurostatIrelandEmploymentActivity 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 15-24People 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 5.8: Auxiliary indicators for Greece 

134 

Greece2011201220132014201520162017201820192020Real GDP (1 year % change) -10.1 -7.1 -2.5 0.5 -0.2 -0.5 1.1 1.7 1.8p-9.0pGross fixed capital formation (% of GDP)13.7 11.5 11.2 10.8 10.8 11.0 11.8 11.1 10.6p11.7pGross domestic expenditure on R&D (% of GDP)0.7 0.7 0.8 0.8 1.0 1.0 1.2 1.2 1.3p1.5pCurrent plus capital account (net lending-borrowing) (% of GDP)-7.5 -2.3 0.3 0.7 0.3 -1.2 -1.4 -2.7 -1.1 -5.0 Net international investment position excluding non-defaultable instruments (% of GDP) -99.2 -124.1 -130.3 -129.7 -128.5 -128.4 -128.9 -135.1 -133.6 -155.2 Foreign direct investment in the reporting economy, flows (% of GDP)0.4 0.7 1.2 1.1 0.7 1.4 1.7 1.9 2.4 1.8 Foreign direct investment in the reporting economy, stocks (% of GDP)12.4 11.7 12.1 11.9 14.8 15.8 18.0 19.4 23.8 23.4 Net trade balance of energy products (% of GDP)-3.6 -4.1 -3.7 -3.4 -2.2 -1.6 -1.8 -2.5 -2.4p-1.8pReal effective exchange rate - euro area trading partners (3 year % change)4.5 2.0 -3.5 -5.6 -5.3 -3.3 -1.9 -1.5 -2.0 -3.2 Export performance against advanced economies (5 year % change)-10.7 -20.3 -22.2 -14.7 -13.7 -12.5 -2.4 4.0 1.6 -9.7 Terms of trade (5 year % change)0.6 -1.6 1.2 3.7 4.5 7.3 8.3 4.3 1.9p-3.1pExport market share in volume (1 year % change)-6.3 -1.2 -1.8 4.6 1.9 -2.7 3.1 5.4 4.0p-13.6pLabour productivity (1 year % change)-6.1 -3.2 -1.9 -3.0 2.8 -3.8 1.6 -2.8 0.9p-7.9pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanana39.7e46.8e46.3e45.0e41.6e35.5e26.4pUnit labour cost performance relative to EA (10 year % change)23.2 12.4 3.6 0.4 -9.9 -9.2 -11.3 -13.0 -16.3 -13.7 House price index (2015=100) - nominal (3 year % change)-13.2e-20.4e-25.5e-27.1e-21.7e-14.2e-8.3e-1.6e8.1e14.0eResidential construction (% of GDP)4.9 3.3 2.3 1.1 0.8 0.7 0.6 0.7 0.9p1.1pHousehold debt, consolidated (incl. NPISH, % of GDP)65.5 66.3 66.4 64.4 62.8 61.3 58.2 58.7 56.0 59.5 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)na26.6e14.0e12.8e11.0e10.1e8.8e11.5e10.9e13.8pFlags:e:Estimated. p:Provisional. 1) House price index e = estimate by NCB.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.8 (continued): Auxiliary indicators for Greece   

135 

20112012201320142015201620172018201920201 year % change-4.3 -4.0 -0.6 3.6 -2.9 3.4 -0.5 4.6 0.9p-1.2p%67.3 67.5 67.5 67.4 67.8 68.2 68.3 68.2 68.4 67.4 %8.8 14.5 18.5 19.5 18.2 17.0 15.6 13.6 12.2 10.9 %44.7 55.3 58.3 52.4 49.8 47.3 43.6 39.9 35.2 35.0 %17.4 20.2 20.4 19.1 17.2 15.8 15.3 14.1 12.5 13.2 3 year change in pp6.0b7.8b5.6 1.7 -3.0 -4.6 -3.8 -3.1 -3.3 -2.1 %31.0 34.6 35.7 36.0 35.7 35.6 34.8 31.8 30.0 28.9 3 year change in pp2.9 7.0 8.0 5.0 1.1 -0.1 -1.2 -3.9 -5.6 -5.9 %21.4 23.1 23.1 22.1 21.4 21.2 20.2 18.5 17.9 17.7 3 year change in pp1.3 3.4 3.0 0.7 -1.7 -1.9 -1.9 -2.9 -3.3 -2.5 %15.2 19.5 20.3 21.5 22.2 22.4 21.1 16.7 16.2 16.5 3 year change in pp4.0 8.5 8.7 6.3 2.7 2.1 -0.4 -5.5 -6.2 -4.6 %12.0 14.2 18.2 17.2 16.8 17.2 15.6 14.6 13.8 12.8 3 year change in pp4.5 7.6 10.6 5.2 2.6 -1.0 -1.6 -2.2 -3.4 -2.8 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. Source: European Commission, EurostatGreeceEmploymentActivity 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 15-24People 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 5.9: Auxiliary indicators for Spain  

136 

Spain2011201220132014201520162017201820192020Real GDP (1 year % change) -0.8 -3.0 -1.4 1.4 3.8 3.0 3.0 2.3 2.1p-10.8pGross fixed capital formation (% of GDP)20.0 18.5 17.4 17.8 18.0 18.0 18.7 19.4 20.1p20.3pGross domestic expenditure on R&D (% of GDP)1.3 1.3 1.3 1.2 1.2 1.2 1.2 1.2 1.3p1.4pCurrent plus capital account (net lending-borrowing) (% of GDP)-2.8 0.6 2.6 2.1 2.7 3.4 3.0 2.4 2.4 1.2 Net international investment position excluding non-defaultable instruments (% of GDP) -76.9 -73.7 -69.7 -70.1 -64.8 -61.7 -57.4 -52.7 -46.8 -52.8 Foreign direct investment in the reporting economy, flows (% of GDP)1.9 1.6 3.5 2.3 1.9 3.6 2.5 4.0 1.8 2.6 Foreign direct investment in the reporting economy, stocks (% of GDP)55.3 55.4 57.7 60.0 61.2 63.8 64.8 67.6 67.8 78.9 Net trade balance of energy products (% of GDP)-3.8 -3.8 -3.4 -2.9 -2.0 -1.5 -1.8 -2.1 -1.9p-1.3pReal effective exchange rate - euro area trading partners (3 year % change)0.4 0.8 0.4 -0.6 -1.4 -2.3 -1.1 -0.2 0.0 -1.2 Export performance against advanced economies (5 year % change)-1.2 -10.8 -4.8 -6.4 -2.9 -0.2 7.5 2.0 0.8 -6.4 Terms of trade (5 year % change)-2.7 -4.6 -1.6 -6.7 -3.6 0.4 1.0 -1.0 -0.8p0.9pExport market share in volume (1 year % change)1.3 -2.3 0.8 0.9 1.2 3.1 0.1 -2.0 1.6p-12.2pLabour productivity (1 year % change)1.8 1.1 1.0 0.3 1.0 0.9 0.3 0.1 -0.7p-7.0pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanana8.1e6.3e5.7e4.4e3.7e3.1e2.8pUnit labour cost performance relative to EA (10 year % change)6.9 1.5 -0.4 -3.7 -5.7 -10.0 -12.3 -15.3 -12.0 -11.2 House price index (2015=100) - nominal (3 year % change)-15.3 -22.7 -28.5 -22.3 -5.6 8.7 15.1 18.6 19.2 14.8 Residential construction (% of GDP)5.4 4.6 3.9 4.2 4.0 4.4 4.8 5.4 5.9p6.0pHousehold debt, consolidated (incl. NPISH, % of GDP)82.5 81.6 77.8 73.4 68.0 64.5 61.2 59.0 56.9 62.5 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)17.4e17.9e14.9e14.0e13.7e13.2e13.5e13.6e13.5e15.8pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.9 (continued): Auxiliary indicators for Spain 

137 

20112012201320142015201620172018201920201 year % change-2.5 -4.0 -2.4 1.0 2.8 2.1 2.6 2.2 2.8p-4.1p%73.9 74.3 74.3 74.2 74.3 74.2 73.9 73.7 73.8 72.2 %8.9 11.0 13.0 12.9 11.4 9.5 7.7 6.4 5.3 5.0 %46.2 52.9 55.5 53.2 48.3 44.4 38.6 34.3 32.5 38.3 %18.2 18.6 18.6 17.1b15.6 14.6 13.3 12.4 12.1 13.9 3 year change in pp3.9 0.5 0.8 -1.1b-3.0 -4.0 -3.8b-3.2 -2.5 0.6 %26.7 27.2 27.3 29.2 28.6 27.9 26.6 26.1 25.3 26.4 3 year change in pp2.9b2.5 1.2 2.5 1.4 0.6 -2.6 -2.5 -2.6 -0.2 %20.6 20.8 20.4 22.2 22.1 22.3 21.6 21.5 20.7 21.0 3 year change in pp0.8 0.4 -0.3 1.6 1.3 1.9 -0.6 -0.6 -1.6 -0.6 %4.5 5.8 6.2 7.1 6.4 5.8 5.1 5.4 4.7 7.0 3 year change in pp0.9 1.3 1.3 2.6 0.6 -0.4 -2.0 -1.0 -1.1 1.9 %13.4 14.3 15.7 17.1 15.4 14.9 12.8 10.7 10.8 9.9 3 year change in pp6.8 6.7 4.9 3.7 1.1 -0.8 -4.3 -4.7 -4.1 -2.9 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. 1) Young people neither in employment nor in education and training, b = change in the classification of non-formal education activities.Source: European Commission, EurostatSpainEmploymentActivity 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 15-24People 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 5.10: Auxiliary indicators for France 

138 

France2011201220132014201520162017201820192020Real GDP (1 year % change) 2.2 0.3 0.6 1.0 1.1 1.1 2.3 1.9 1.8p-7.9pGross fixed capital formation (% of GDP)22.4 22.5 22.0 21.8 21.5 21.8 22.5 22.9 23.5p23.0pGross domestic expenditure on R&D (% of GDP)2.2 2.2 2.2 2.2 2.3p2.2 2.2p2.2p2.2e2.4pCurrent plus capital account (net lending-borrowing) (% of GDP)-0.9 -1.1 -0.5 -1.0 -0.4 -0.4 -0.8 -0.7 -0.2 -1.8 Net international investment position excluding non-defaultable instruments (% of GDP) -23.1 -27.0 -26.9 -31.0 -29.7 -30.4 -33.7 -34.1 -34.8 -41.9 Foreign direct investment in the reporting economy, flows (% of GDP)1.5 1.2 1.1 0.2 1.8 1.3 1.4 2.8 2.1 0.4 Foreign direct investment in the reporting economy, stocks (% of GDP)40.2 40.5 41.3 42.1 43.9 44.7 44.4 44.6 46.7 50.3 Net trade balance of energy products (% of GDP)-3.0 -3.3 -3.1 -2.5 -1.8 -1.4 -1.7 -1.9 -1.8p-1.1pReal effective exchange rate - euro area trading partners (3 year % change)-0.4 -0.5 -1.4 -0.7 -0.6 0.0 -0.7 -0.1 -0.1 0.6 Export performance against advanced economies (5 year % change)-8.9 -11.7 -9.0 -9.6 -3.3 -1.9 0.6 -1.7 -2.1 -6.4 Terms of trade (5 year % change)-0.7 -2.1 -0.4 -1.7 2.8 6.4 5.3 2.9 2.6p0.0pExport market share in volume (1 year % change)-0.5 -0.4 -1.5 -0.3 1.5 -0.5 -1.0 0.8 0.7p-7.9pLabour productivity (1 year % change)1.4 0.0 0.4 0.4 0.9 0.5 1.1 0.9 0.6p-7.0pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanana4.2e4.0e3.6e3.1e2.7e2.5e2.2pUnit labour cost performance relative to EA (10 year % change)2.0 1.7 2.1 2.2 1.1 -0.1 -0.3 -0.2 -2.0 -3.6 House price index (2015=100) - nominal (3 year % change)3.9 10.0 3.2 -3.9 -4.7 -1.8 2.8 7.3 9.7 11.9 Residential construction (% of GDP)6.4 6.2 6.1 6.0 5.9 6.0 6.3 6.3 6.5p6.1pHousehold debt, consolidated (incl. NPISH, % of GDP)54.8 55.1 55.6 55.6 56.1 57.1 58.4 60.4 62.1 68.7pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)21.1e20.1e18.1e18.9e17.3e16.0e15.2e15.3e15.1e16.2pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.10 (continued): Auxiliary indicators for France  

139 

20112012201320142015201620172018201920201 year % change0.8 0.3 0.2 0.5 0.2 0.6 1.1 1.0 1.2p-0.9p%69.9e70.4e70.9e71.0 71.3 71.4 71.5 71.9 71.7 71.0 %3.9e4.2e4.5e4.5 4.6 4.6 4.2 3.8 3.4 2.9 %22.7e24.4e24.9e24.2 24.7 24.5 22.1 20.8 19.5 20.2 %12.3 12.5 11.2b11.2b12.0 11.9 11.4 11.1 10.6 11.4 3 year change in pp1.8 -0.2 -1.5b-1.1b-0.5 0.7b0.2b-0.9 -1.3 0.0 %19.3 19.1 18.1 18.5 17.7 18.2 17.0 17.4 17.9 18.2p3 year change in pp0.8b0.6 -1.1 -0.8 -1.4 0.1 -1.5 -0.3 -0.3 1.2p%14.0 14.1 13.7 13.3 13.6 13.6 13.2 13.4 13.6 13.8p3 year change in pp1.5 1.2 0.4 -0.7 -0.5 -0.1 -0.1 -0.2 0.0 0.6p%5.2 5.3 4.9 4.8 4.5 4.4 4.1 4.7 4.7 4.8p3 year change in pp-0.2 -0.3 -0.9 -0.4 -0.8 -0.5 -0.7 0.2 0.3 0.7p%9.4 8.4 8.1 9.6 8.6 8.4 8.1 8.0 7.9 8.8p3 year change in pp0.6 0.0 -1.8 0.2 0.2 0.3 -1.5 -0.6 -0.5 0.7pPeople at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. e:Estimated. p:Provisional. 1) Young people neither in employment nor in education and training, b = data are further impacted from the changes in the questionnaire introduced in 2013 and inclusion of French overseas departments (DROM).Source: European Commission, EurostatFranceEmploymentActivity 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 15-24People 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 5.11: Auxiliary indicators for Croatia 

140 

Croatia2011201220132014201520162017201820192020Real GDP (1 year % change) -0.1 -2.3 -0.4 -0.3 2.5 3.5 3.4 2.9 3.5 -8.1pGross fixed capital formation (% of GDP)20.0 19.4 19.4 19.0 19.3 19.8 19.7 20.1 21.5 22.3pGross domestic expenditure on R&D (% of GDP)0.8 0.8 0.8 0.8 0.8 0.9 0.9 1.0 1.1p1.3pCurrent plus capital account (net lending-borrowing) (% of GDP)-1.7 -1.8 -0.9 0.7 4.0 3.6 4.4 3.1 4.6 2.1 Net international investment position excluding non-defaultable instruments (% of GDP) -52.4 -50.1 -50.2 -46.3 -39.1 -27.9 -19.8 -13.6 -1.5 -0.3 Foreign direct investment in the reporting economy, flows (% of GDP)2.0 2.3 1.7 5.2 0.1 0.8 0.9 2.0 6.3 2.1 Foreign direct investment in the reporting economy, stocks (% of GDP)50.4 51.8 50.6 56.3 53.7 57.1 57.4 55.5 60.2 65.3 Net trade balance of energy products (% of GDP)-5.3 -5.5 -5.0 -4.0 -3.4 -2.6 -2.8 -3.2 -2.8 -2.0pReal effective exchange rate - euro area trading partners (3 year % change)-2.2 -2.6 -2.9 -1.4 -1.2 -1.1 0.6 1.2 0.5 -2.0 Export performance against advanced economies (5 year % change)-9.1 -19.7 -18.6 -14.7 -5.4 6.2 20.7 19.7 20.2 0.6 Terms of trade (5 year % change)4.8 2.9 1.4 0.7 0.5 1.5 2.4 3.2 3.7 1.5pExport market share in volume (1 year % change)-4.6 -4.7 -1.1 3.8 7.2 4.7 1.5 0.0 5.9 -14.8pLabour productivity (1 year % change)4.0p1.4p2.5p-2.9p1.3p3.3p0.9p0.3p0.4p-7.0pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanana13.6e13.0e10.7e8.8e7.3e5.2e5.3pUnit labour cost performance relative to EA (10 year % change)10.8 4.0 -2.5 -5.9 -7.7 -11.5 -14.5 -13.9 -16.0 -11.9 House price index (2015=100) - nominal (3 year % change)-10.9 -7.6 -5.3 -6.9 -8.2 -3.6 1.7 11.1 20.0 24.5 Residential construction (% of GDP)nanananananananananaHousehold debt, consolidated (incl. NPISH, % of GDP)41.3 41.1 40.2 40.1 38.4 35.1 34.0 33.9 34.6 38.3 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)nana7.5e7.2e8.0e7.2e7.4e7.5e7.5e7.6pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.11 (continued): Auxiliary indicators for Croatia 

141 

20112012201320142015201620172018201920201 year % change-4.0p-3.6p-2.8p2.6p1.3p0.2p2.4p2.6p3.1p-1.2p%64.1 63.9 63.7 66.1 66.9 65.6 66.4 66.3 66.5 67.1 %8.4 10.2 11.0 10.1 10.2 6.6 4.6 3.4 2.4 2.1 %36.7 42.1 50.0 45.5 42.3 31.3 27.4 23.7 16.6 21.1 %16.2 16.6 19.6 19.3 18.1 16.9 15.4 13.6 11.8 12.2 3 year change in pp4.6 3.2 3.9 3.1 1.5 -2.7 -3.9 -4.5 -5.1 -3.2 %32.6 32.6 29.9 29.3 29.1 27.9 26.4 24.8 23.3 23.2 3 year change in ppnana-1.2 -3.3 -3.5 -2.0 -2.9 -4.3 -4.6 -3.2 %20.9 20.4 19.5 19.4 20.0 19.5 20.0 19.3 18.3 18.3 3 year change in ppnana-1.1 -1.5 -0.4 0.0 0.6 -0.7 -1.2 -1.7 %15.2 15.9 14.7 13.9 13.7 12.5 10.3 8.6 7.2 6.9 3 year change in ppnana0.4 -1.3 -2.2 -2.2 -3.6 -5.1 -5.3 -3.4 %15.9 16.8 14.8 14.7 14.4 13.0 12.2 11.2 9.2 8.6 3 year change in ppnana0.9 -1.2 -2.4 -1.8 -2.5 -3.2 -3.8 -3.6 People at risk of poverty or social exclusion - % of total populationFlags:p:Provisional. Source: European Commission, EurostatCroatiaEmploymentActivity 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 15-24People 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 5.12: Auxiliary indicators for Italy  

142 

Italy2011201220132014201520162017201820192020Real GDP (1 year % change) 0.7 -3.0 -1.8 0.0 0.8 1.3 1.7 0.9 0.4 -8.9 Gross fixed capital formation (% of GDP)19.7 18.3 17.2 16.7 16.9 17.2 17.5 17.8 17.9 17.8 Gross domestic expenditure on R&D (% of GDP)1.2 1.3 1.3 1.3e1.3 1.4b1.4 1.4 1.5p1.5pCurrent plus capital account (net lending-borrowing) (% of GDP)-2.8 -0.1 1.1 2.1 1.8 2.4 2.7 2.5 3.1 3.7 Net international investment position excluding non-defaultable instruments (% of GDP) -22.3 -24.6 -23.8 -21.0 -17.0 -11.3 -5.5 -5.4 0.2 1.4 Foreign direct investment in the reporting economy, flows (% of GDP)1.5 0.0 0.9 0.8 0.7 1.4 0.6 2.1 1.5 -1.1 Foreign direct investment in the reporting economy, stocks (% of GDP)21.4 23.0 23.7 25.0 25.5 26.3 26.2 27.6 28.9 30.8 Net trade balance of energy products (% of GDP)-3.6 -3.8 -3.3 -2.6 -2.0 -1.5 -1.9 -2.3 -2.0 -1.3 Real effective exchange rate - euro area trading partners (3 year % change)0.9 1.4 1.0 0.4 -0.7 -0.9 -0.8 -1.3 -1.7 -1.9 Export performance against advanced economies (5 year % change)-12.9 -19.7 -15.6 -10.6 -9.4 -6.9 -1.3 -2.4 -3.9 -2.4 Terms of trade (5 year % change)-2.3 -4.8 -0.8 -3.8 2.5 8.6 8.6 6.2 4.4 5.9 Export market share in volume (1 year % change)-1.5 -1.2 -3.2 -1.0 1.2 -0.4 0.0 -1.6 0.7 -6.1 Labour productivity (1 year % change)0.4 -2.7 -0.1 -0.1 0.1 -0.1 0.5 0.0 -0.1 -7.0 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana16.5e16.5e15.0e11.2e8.4e6.7e4.5pUnit labour cost performance relative to EA (10 year % change)12.6 10.4 6.6 3.9 3.5 0.7 -1.1 -1.7 -2.9 -7.5 House price index (2015=100) - nominal (3 year % change)1.6e-0.5e-7.6 -13.1 -14.3 -8.1 -4.6 -1.4 -1.8 1.2 Residential construction (% of GDP)5.2 4.9 4.7 4.3 4.1 4.1 4.0 4.1 4.0 4.1 Household debt, consolidated (incl. NPISH, % of GDP)43.5 43.7 43.3 42.6 41.8 41.2 40.8 40.8 41.1 45.1 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)14.9e14.4e15.0e14.0e13.1e14.2e12.2e13.1e12.9e13.9pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index e = estimate by NCB. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.12 (continued): Auxiliary indicators for Italy 

143 

20112012201320142015201620172018201920201 year % change0.3 -0.3 -1.8 0.1 0.7 1.4 1.2 0.9 0.5 -2.1 %62.1 63.5 63.4 63.9 64.0 64.9 65.4 65.6 65.7 64.1 %4.3 5.6 6.9 7.7 6.9 6.7 6.5 6.2 5.6 4.7 %29.2 35.3 40.0 42.7 40.3 37.8 34.7 32.2 29.2 29.4 %19.7 21.0 22.2 22.1 21.4 19.9 20.1 19.2 18.1 19.0 3 year change in pp3.1 3.4 3.2 2.4 0.4 -2.3 -2.0 -2.2 -1.8 -1.1 %28.1 29.9 28.5 28.3 28.7 30.0 28.9 27.3 25.6 na3 year change in pp2.6 5.0 3.5 0.2 -1.2 1.5 0.6 -1.4 -4.4 na%19.8 19.5 19.3 19.4 19.9 20.6 20.3 20.3 20.1 na3 year change in pp0.9 1.1 0.6 -0.4 0.4 1.3 0.9 0.4 -0.5 na%11.1 14.5 12.3 11.6 11.5 12.1 10.1 8.5 7.4 na3 year change in pp3.6 7.2 4.9 0.5 -3.0 -0.2 -1.5 -3.0 -4.7 na%10.5 10.6 11.3 12.1 11.7 12.8 11.8 11.3 10.0 na3 year change in pp0.1 1.4 0.7 1.6 1.1 1.5 -0.3 -0.4 -2.8 naPeople at risk of poverty or social exclusion - % of total population1) Official transmission deadline for 2020 data for the Income and Living Conditions (EU-SILC) indicators is 30 November 2021 while data were extracted on 22 October 2021.Source: European Commission, EurostatItalyEmploymentActivity 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 15-24People 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 5.13: Auxiliary indicators for Cyprus 

144 

Cyprus2011201220132014201520162017201820192020Real GDP (1 year % change) 0.4 -3.4 -6.6 -1.8 3.4 6.5 5.9 5.7 5.3 -5.2pGross fixed capital formation (% of GDP)19.0 15.5 14.1 13.3 12.9 18.1 20.9 18.8 18.8 20.0pGross domestic expenditure on R&D (% of GDP)0.5 0.4 0.5 0.5 0.5 0.5 0.6 0.6 0.6pnaCurrent plus capital account (net lending-borrowing) (% of GDP)-1.9 -3.7 -1.0 -3.3 -0.4 -4.1 -4.7 -3.4 -5.6 -10.0 Net international investment position excluding non-defaultable instruments (% of GDP) -100.8 -104.1 -141.5 -197.6 -258.2 -227.6 -219.6 -181.4 -167.0 -170.4 Foreign direct investment in the reporting economy, flows (% of GDP)146.0 276.8 108.8 222.8 146.0 40.8 63.0 -2.6 162.4 -0.6 Foreign direct investment in the reporting economy, stocks (% of GDP)1156.6 1436.8 1650.4 1941.5 2131.8 2069.6 1997.0 1822.4 1824.7 1886.4 Net trade balance of energy products (% of GDP)-6.7 -7.6 -6.4 -5.9 -4.0 -3.3 -4.0 -4.1 -3.9 -3.3pReal effective exchange rate - euro area trading partners (3 year % change)0.7 2.0 1.0 -0.1 -2.6 -3.5 -3.9 -3.2 -2.5 -3.0 Export performance against advanced economies (5 year % change)-2.0 -12.4 -6.7 -15.5 -4.4 4.7 18.9 19.2 21.0 29.1 Terms of trade (5 year % change)-1.7 -2.1 -0.6 -0.8 1.4 3.9 3.2 2.6 1.7 -0.8pExport market share in volume (1 year % change)0.1 -3.7 -2.4 2.6 5.8 4.8 5.8 3.6 6.6 2.8pLabour productivity (1 year % change)0.1 0.1 -1.0 0.2 1.8 1.7 0.4 0.3 1.4 -4.7pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanana38.6e36.3e35.4e30.7e20.2e18.1e11.0pUnit labour cost performance relative to EA (10 year % change)14.0 14.1 3.0 -1.5 -7.3 -11.2 -9.8 -9.5 -12.1 -15.0 House price index (2015=100) - nominal (3 year % change)-13.3 -10.1 -8.5 -8.7 -7.1b-2.9 1.0 4.3 7.9 5.3pResidential construction (% of GDP)6.2 4.9 4.1 3.9 3.6 4.4 5.0 6.5 7.6 7.6pHousehold debt, consolidated (incl. NPISH, % of GDP)121.9 127.9 129.6 131.4 126.8 116.2 105.3 96.4 86.0 91.0 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)19.9e26.0e16.2e10.3e10.7e10.7e12.1e14.1e12.8e13.6pFlags:b:Break in series. e:Estimated. p:Provisional. 1) Official transmission deadline for 2020 data on Gross domestic expenditure on R&D is 31 October 2021 while data were extracted on 22 October 2021. 2) House price index b = break in time series due to full implementation of harmonised EU methodology. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.13 (continued): Auxiliary indicators for Cyprus 

145 

20112012201320142015201620172018201920201 year % change0.3 -3.5 -5.6 -2.0 1.6 4.7 5.4 5.3 3.8 -0.6p%73.5 73.5 73.6 74.3 73.9 73.4 73.9 75.0 76.0 75.8 %1.6 3.6 6.1 7.7 6.8 5.8 4.5 2.7 2.1 2.1 %22.4 27.7 38.9 36.0 32.8 29.1 24.7 20.2 16.6 18.2 %14.6 16.0 18.7 17.0 15.3 16.0 16.1 13.2 13.7 14.4 3 year change in pp4.9 6.1b7.0 2.4 -0.7 -2.7 -0.9 -2.1 -2.3 -1.7 %24.6 27.1 27.8 27.4 28.9 27.7 25.2 23.9 22.3 21.3 3 year change in pp1.3b3.6 3.2 2.8 1.8 -0.1 -2.2 -5.0 -5.4 -3.9 %14.8 14.7 15.3 14.4 16.2 16.1 15.7 15.4 14.7 14.3 3 year change in pp-1.1 -1.1 -0.3 -0.4 1.5 0.8 1.3 -0.8 -1.4 -1.4 %11.7 15.0 16.1 15.3 15.4 13.6 11.5 10.2 9.1 8.3 3 year change in pp2.6 5.5 4.9 3.6 0.4 -2.5 -3.8 -5.2 -4.5 -3.2 %4.9 6.5 7.9 9.7 10.9 10.6 9.4 8.6 6.8 5.6 3 year change in pp0.4b2.5 3.0 4.8 4.4 2.7 -0.3 -2.3 -3.8 -3.8 People 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 0-59Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. Source: European Commission, EurostatCyprusEmploymentActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74 
 
 
 
 
 
 
 
 
 
 
Table 5.14: Auxiliary indicators for Latvia 

146 

Latvia2011201220132014201520162017201820192020Real GDP (1 year % change) 2.6 7.0 2.0 1.9 3.9 2.4 3.3 4.0 2.5 -3.6 Gross fixed capital formation (% of GDP)23.0 26.0 24.3 22.8 21.9 19.3 20.6 22.1 23.2 24.5 Gross domestic expenditure on R&D (% of GDP)0.7 0.7 0.6 0.7 0.6 0.4 0.5 0.6 0.6p0.7pCurrent plus capital account (net lending-borrowing) (% of GDP)-1.2 -0.8 -0.3 1.4 2.2 2.8 2.2 1.6 0.8 4.7 Net international investment position excluding non-defaultable instruments (% of GDP) -34.0 -26.0 -22.3 -17.2 -10.9 -6.9 -3.1 0.7 5.9 14.5 Foreign direct investment in the reporting economy, flows (% of GDP)5.5 3.8 3.3 3.3 3.0 1.2 3.7 1.3 3.2 2.8 Foreign direct investment in the reporting economy, stocks (% of GDP)51.3 49.4 54.0 56.6 59.1 57.6 59.5 55.7 56.0 60.0 Net trade balance of energy products (% of GDP)-5.6 -6.1 -5.6 -4.7 -3.5 -2.4 -2.9 -3.4 -2.7 -1.6 Real effective exchange rate - euro area trading partners (3 year % change)0.3 -0.7 0.2 -1.3 -2.2 -0.3 0.7 1.3 2.8 1.5 Export performance against advanced economies (5 year % change)37.3 17.1 12.4 18.2 13.6 6.0 5.4 6.1 1.7 18.8 Terms of trade (5 year % change)6.5 -1.1 1.2 0.1 0.5 0.4 3.8 5.1 6.9 9.3 Export market share in volume (1 year % change)5.7 6.3 -2.9 2.6 -0.1 1.6 1.0 0.8 1.2 5.7 Labour productivity (1 year % change)1.0 5.5 -0.3 3.3 2.4 2.7 3.3 2.5 2.6 -1.3 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana9.7e6.5e6.3e5.6e5.3e3.9e4.6pUnit labour cost performance relative to EA (10 year % change)46.9 54.7 57.4 56.8 43.4 30.2 7.6 -3.5 16.9 27.8 House price index (2015=100) - nominal (3 year % change)-38.4 1.2 21.5 16.6 9.5 11.1 14.0 29.3 29.9 23.5 Residential construction (% of GDP)2.0 2.4 2.2 2.5 2.4 2.0 2.1 2.5 2.7 3.0 Household debt, consolidated (incl. NPISH, % of GDP)40.0 32.7 29.2 26.4 24.3 23.4 22.3 21.0 20.2 20.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)10.7e10.2e9.9e10.2e9.5e9.9e8.9e7.8e9.8e10.0pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.14 (continued): Auxiliary indicators for Latvia  

147 

20112012201320142015201620172018201920201 year % change1.5 1.4 2.3 -1.3 1.4 -0.3 0.0 1.5 -0.1 -2.3 %72.8 74.4 74.0 74.6 75.7 76.3 77.0 77.7 77.3 78.2 %8.8 7.8 5.7 4.6 4.5 4.0 3.3 3.1 2.4 2.2 %31.0 28.5 23.2 19.6 16.3 17.3 17.0 12.2 12.4 14.9 %16.0 14.9 13.0 12.0 10.5 11.2 10.3 7.8 7.9 7.1 3 year change in pp4.2 -2.6 -4.8 -4.0 -4.4 -1.8 -1.7 -2.7 -3.3 -3.2 %40.1 36.2 35.1 32.7 30.9 28.5 28.2 28.4 27.3 na3 year change in pp5.9b-1.7 -3.1 -7.4 -5.3 -6.6 -4.5 -2.5 -1.2 na%19.0 19.2 19.4 21.2 22.5 21.8 22.1 23.3 22.9 na3 year change in pp-6.9 -7.2 -1.5 2.2 3.3 2.4 0.9 0.8 1.1 na%31.0 25.6 24.0 19.2 16.4 12.8 11.3 9.5 7.8 na3 year change in pp11.7 3.5 -3.6 -11.8 -9.2 -11.2 -7.9 -6.9 -5.0 na%12.6 11.7 10.0 9.6 7.8 7.2 7.8 7.6 7.6 na3 year change in pp7.2 4.3 -2.6 -3.0 -3.9 -2.8 -1.8 -0.2 0.4 naYoung people neither in employment nor in education and training - % of total population aged 15-24People 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 0-59People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1) Official transmission deadline for 2020 data for the Income and Living Conditions (EU-SILC) indicators is 30 November 2021 while data were extracted on 22 October 2021.Source: European Commission, EurostatLatviaEmploymentActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24 
 
 
 
 
 
 
 
 
 
Table 5.15: Auxiliary indicators for Lithuania 

148 

Lithuania2011201220132014201520162017201820192020Real GDP (1 year % change) 6.0 3.8 3.6 3.5 2.0 2.5 4.3 4.0 4.6 -0.1 Gross fixed capital formation (% of GDP)18.5 17.3 18.4 18.9 19.6 19.9 20.1 20.9 21.5 21.1 Gross domestic expenditure on R&D (% of GDP)0.9 0.9 1.0 1.0 1.0 0.8 0.9 0.9 1.0 1.2pCurrent plus capital account (net lending-borrowing) (% of GDP)-0.3 1.4 4.9 6.2 0.6 0.4 1.8 1.8 5.2 9.1 Net international investment position excluding non-defaultable instruments (% of GDP) -21.4 -22.9 -18.6 -16.9 -13.5 -12.6 -6.5 -2.9 5.1 15.2 Foreign direct investment in the reporting economy, flows (% of GDP)4.3 1.6 1.7 0.8 2.5 2.7 2.8 2.4 6.3 8.0 Foreign direct investment in the reporting economy, stocks (% of GDP)42.5 42.2 42.9 41.4 42.9 44.7 44.2 42.8 48.2 56.2 Net trade balance of energy products (% of GDP)-7.6 -7.5 -6.1 -4.7 -3.6 -2.6 -3.0 -4.0 -3.6 -2.4 Real effective exchange rate - euro area trading partners (3 year % change)4.8 1.7 1.4 -0.1 -1.6 -0.9 1.4 3.0 3.4 2.1 Export performance against advanced economies (5 year % change)32.6 34.1 17.9 26.8 6.8 -4.3 1.6 0.7 14.4 39.9 Terms of trade (5 year % change)0.2 -1.5 -5.2 -0.5 1.4 4.0 4.9 3.7 3.8 2.8 Export market share in volume (1 year % change)7.6 7.6 3.7 -5.4 -0.7 2.6 8.1 3.1 9.0 8.3 Labour productivity (1 year % change)5.5 1.9 2.2 1.5 0.6 0.2 5.0 2.6 4.0 1.5 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana6.8e5.6e4.0e3.2e2.6e1.7e2.2pUnit labour cost performance relative to EA (10 year % change)9.8 9.3 12.6 11.4 11.2 6.2 8.3 7.5 16.7 26.5 House price index (2015=100) - nominal (3 year % change)-30.8 -1.5 7.7 7.5 11.7 16.3 19.0 23.2 24.9 23.0 Residential construction (% of GDP)2.0 1.9 2.2 2.5 2.8 3.0 2.7 2.7 3.0 3.2 Household debt, consolidated (incl. NPISH, % of GDP)25.8 23.6 22.3 21.5 22.3 22.8 22.4 22.6 23.0 24.6 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)11.3e10.2e9.6e9.7e9.0e11.6e10.7e10.4e14.5e15.5pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.15 (continued): Auxiliary indicators for Lithuania 

149 

20112012201320142015201620172018201920201 year % change0.6 1.9 1.4 2.0 1.4 2.3 -0.7 1.4 0.6 -1.6 %71.4 71.8 72.4 73.7 74.1 75.5 75.9 77.3 78.0 78.5 %8.0 6.6 5.1 4.8 3.9 3.0 2.7 2.0 1.9 2.5 %32.6 26.7 21.9 19.3 16.3 14.5 13.3 11.1 11.9 19.6 %11.8 11.2 11.1 9.9 9.2 9.4 9.1 8.0 8.6 10.8 3 year change in pp3.0 -0.9 -2.1 -1.9 -2.0 -1.7 -0.8 -1.2 -0.8 1.7 %33.1 32.5 30.8 27.3 29.3 30.1 29.6 28.3 26.3 24.8 3 year change in pp4.8 2.9 -3.2 -5.8 -3.2 -0.7 2.3 -1.0 -3.8 -4.8 %19.2 18.6 20.6 19.1 22.2 21.9 22.9 22.9 20.6 20.9 3 year change in pp-1.7 -1.7 0.1 -0.1 3.6 1.3 3.8 0.7 -1.3 -2.0 %19.0 19.8 16.0 13.6 13.9 13.5 12.4 11.1 9.4 7.7 3 year change in pp6.5 4.2 -3.9 -5.4 -5.9 -2.5 -1.2 -2.8 -4.1 -4.7 %12.7 11.4 11.0 8.8 9.2 10.2 9.7 9.0 7.5 7.3 3 year change in pp6.6 4.2 1.5 -3.9 -2.2 -0.8 0.9 -0.2 -2.7 -2.4 Young people neither in employment nor in education and training - % of total population aged 15-24People at risk of poverty after social transfers - % of total populationPeople at risk of poverty or social exclusion - % of total populationSource: European Commission, EurostatLithuaniaEmploymentActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Severely materially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-59 
 
 
 
 
 
 
 
 
 
 
Table 5.16: Auxiliary indicators for Luxembourg 

150 

Luxembourg2011201220132014201520162017201820192020Real GDP (1 year % change) 1.0 1.6 3.2 2.6 2.3 5.0 1.3 2.0 3.3 -1.8 Gross fixed capital formation (% of GDP)19.2 19.2 18.5 19.2 17.3 17.3 17.8 16.3 17.6 16.8 Gross domestic expenditure on R&D (% of GDP)1.5 1.3b1.3 1.3 1.3 1.3 1.3 1.2 1.2pnaCurrent plus capital account (net lending-borrowing) (% of GDP)5.6 4.8 4.4 3.9 4.6 4.5 4.4 7.5 4.5 4.0 Net international investment position excluding non-defaultable instruments (% of GDP) -1891.9 -2328.9 -2546.8 -3277.8 -3679.7 -3639.2 -3837.5 -3596.0 -4076.8 -4095.3 Foreign direct investment in the reporting economy, flows (% of GDP)683.1 980.0 974.2 274.7 960.6 56.8 -94.6 -836.7 -538.6 -214.4 Foreign direct investment in the reporting economy, stocks (% of GDP)4665.6 5978.7 6123.9 7568.0 9052.3 8972.9 8286.9 7350.1 6782.7 6136.5 Net trade balance of energy products (% of GDP)-5.7 -6.0 -5.1 -4.2 -2.9 -2.3 -2.7 -3.3 -3.2 -2.0 Real effective exchange rate - euro area trading partners (3 year % change)2.0 2.8 1.7 0.8 0.1 -0.4 0.0 0.4 0.9 0.0 Export performance against advanced economies (5 year % change)6.8 1.5 13.8 15.5 18.5 22.2 21.4 11.7 8.8 21.2 Terms of trade (5 year % change)4.2 5.7 3.0 2.3 1.3 0.5 -0.2 -0.7 -2.4 -0.5 Export market share in volume (1 year % change)-2.5 -1.6 2.7 2.9 2.0 3.0 -5.6 -0.1 4.9 9.2 Labour productivity (1 year % change)-1.9 -0.8 1.3 0.1 -0.3 1.9 -2.1 -1.6 -0.2 -3.6 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana1.4e1.1e0.8e0.7e0.8e0.6e0.7pUnit labour cost performance relative to EA (10 year % change)15.3 17.2 16.9 15.8 12.9 8.8 13.9 10.3 8.3 6.6 House price index (2015=100) - nominal (3 year % change)8.0 13.9 13.4 14.2 15.5 16.6 18.0 19.9 24.5 35.0 Residential construction (% of GDP)2.8 2.9 3.4 3.6 3.8 4.1 3.6 3.7 4.0 3.7 Household debt, consolidated (incl. NPISH, % of GDP)56.2 57.9 57.0 58.5 59.0 60.5 62.5 65.4 66.8 69.2 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)17.7e15.1e13.9e13.4e13.4e13.4e13.2e14.6e15.0e14.3pFlags:b:Break in series. e:Estimated. p:Provisional. 1) Official transmission deadline for 2020 data on Gross domestic expenditure on R&D is 31 October 2021 while data were extracted on 22 October 2021.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.16 (continued): Auxiliary indicators for Luxembourg   

151 

20112012201320142015201620172018201920201 year % change3.0 2.4 1.8 2.5 2.6 3.0 3.5 3.6 3.5 1.9 %67.9 69.4 69.9 70.8 70.9b70.0 70.2 71.1 72.0 72.2 %1.4 1.6 1.8 1.6 1.9b2.2 2.1 1.4 1.3 1.7 %16.8 18.8 15.5 22.6 17.3b18.9 15.4 14.2 17.0 23.2 %4.7 5.9 5.0 6.3 6.2b5.4 5.9 5.3 5.6 6.6 3 year change in pp-1.5 0.1b-0.1 1.6 0.3b0.4 -0.4 -0.9b0.2 0.7 %16.8 18.4 19.0 19.0 18.5 19.1b19.4 20.7 20.6 20.9b3 year change in pp1.3 0.6 1.9 2.2 0.1 0.1b0.4 2.2 1.5b1.5b%13.6 15.1 15.9 16.4 15.3 15.8b16.4 16.7 17.5 17.4b3 year change in pp0.2 0.2 1.4 2.8 0.2 -0.1b0.0 1.4 1.7b1.0b%1.2 1.3 1.8 1.4 2.0 1.6b1.2 1.3 1.3 1.7b3 year change in pp0.5 0.2 1.3 0.2 0.7 -0.2b-0.2 -0.7 -0.3b0.5b%5.8 6.1 6.6 6.1 5.7 6.6b6.9 8.3 7.5 7.9b3 year change in pp1.1 -0.2 1.1 0.3 -0.4 0.0b0.8 2.6 0.9b1.0bPeople at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1)LabourForceSurveyindicators,2015,b=changeinthesamplingstrategyanddatacollectiontechnique.2)IncomeandLivingConditionsindicators,2016,b=newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment.Bettercoverage of certain segments of the resident population by use of Luxembourg's National Population Register. Source: European Commission, EurostatLuxembourgEmploymentActivity 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 15-24People 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 5.17: Auxiliary indicators for Hungary 

152 

Hungary2011201220132014201520162017201820192020Real GDP (1 year % change) 1.9 -1.3 1.8 4.2 3.7 2.2 4.3 5.4 4.6 -4.7pGross fixed capital formation (% of GDP)19.5 19.1 20.8 22.0 22.2 19.5 22.1 24.7 27.1 26.8pGross domestic expenditure on R&D (% of GDP)1.2 1.3 1.4 1.4 1.3 1.2 1.3 1.5b1.5 1.6 Current plus capital account (net lending-borrowing) (% of GDP)2.9 4.1 7.2 4.8 6.9 4.5 2.8 2.5 1.2 0.5 Net international investment position excluding non-defaultable instruments (% of GDP) -47.2 -41.8 -35.1 -29.5 -18.3 -11.9 -8.7 -3.9 -2.6 -2.4 Foreign direct investment in the reporting economy, flows (% of GDP)10.0 8.2 -2.6 9.5 -4.3 55.2 -8.2 -42.3 60.8 111.5 Foreign direct investment in the reporting economy, stocks (% of GDP)234.5 225.6 211.0 216.4 219.8 257.0 208.4 161.1 210.0 327.3 Net trade balance of energy products (% of GDP)-6.0 -6.3 -6.3 -6.1 -4.1 -3.1 -3.7 -3.8 -3.8 -2.2pReal effective exchange rate - euro area trading partners (3 year % change)-2.5 4.6 -3.0 -7.0 -7.3 -5.3 0.4 -0.9 -0.6 -6.5 Export performance against advanced economies (5 year % change)3.1 -16.9 -18.1 -12.0 -9.0 -5.1 8.2 5.9 3.4 8.7 Terms of trade (5 year % change)-1.1 -2.4 -1.1 -1.2 -0.5 1.5 2.1 0.6 0.3 1.4pExport market share in volume (1 year % change)-0.5 -4.9 0.5 5.6 4.3 1.5 1.1 1.3 4.5 2.0pLabour productivity (1 year % change)1.9 -2.2 0.5 -0.3 1.4 -1.5 2.3 3.0 3.4 -3.7pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanana19.4e15.2e11.9e8.4e5.4e4.2e3.6pUnit labour cost performance relative to EA (10 year % change)25.0 23.6 14.5 9.1 6.3 7.6 6.9 7.0 11.2 14.4 House price index (2015=100) - nominal (3 year % change)-10.7 -9.2 -9.4 -2.2 14.8 33.6 43.9 45.5 50.1 40.4pResidential construction (% of GDP)2.2 2.0 1.8 1.9 2.2 2.4 2.7 3.0 3.2 4.1pHousehold debt, consolidated (incl. NPISH, % of GDP)37.4 31.7 28.2 25.6 21.1 20.1 18.6 17.7 18.4 20.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)13.5e11.5e10.7e10.9e11.2e9.9e9.7e9.4e9.5e10.8pFlags:b:Break in series. e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.17 (continued): Auxiliary indicators for Hungary 

153 

20112012201320142015201620172018201920201 year % change0.0 0.9 1.3 4.6 2.2 3.7 1.9 2.3 1.1 -1.0 %62.4 63.7 64.7 67.0 68.6 70.1 71.2 71.9 72.6 72.8 %5.2 5.0 4.9 3.7 3.1 2.4 1.7 1.4 1.1 1.1 %26.0 28.2 26.6 20.4 17.3 12.9 10.7 10.2 11.4 12.8 %13.2 14.8 15.5 13.6 11.6b11.0 11.0 10.7 11.0 11.7 3 year change in pp1.7 1.2 2.9 0.4 -3.2b-4.5 -2.6 -0.9b0.0 0.7 %31.5 33.5 34.8 31.8 28.2 26.3 25.6 19.6 18.9 17.8 3 year change in pp3.3 3.9 4.9 0.3 -5.3 -8.5 -6.2 -8.6 -7.4 -7.8 %14.1 14.3 15.0 15.0 14.9 14.5 13.4 12.8 12.3 12.3 3 year change in pp1.7 1.9 2.7 0.9 0.6 -0.5 -1.6 -2.1 -2.2 -1.1 %23.4 26.3 27.8 24.0 19.4 16.2 14.5 10.1 8.7 8.0 3 year change in pp5.5 6.0 6.2 0.6 -6.9 -11.6 -9.5 -9.3 -7.5 -6.5 %12.8 13.5 13.6 12.8 9.4 8.2 6.6 5.7 5.0 5.0 3 year change in pp0.8 2.2 1.7 0.0 -4.1 -5.4 -6.2 -3.7 -3.2 -1.6 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. Source: European Commission, EurostatHungaryEmploymentActivity 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 15-24People 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 5.18: Auxiliary indicators for Malta 

154 

Malta2011201220132014201520162017201820192020Real GDP (1 year % change) 0.5 4.1 5.5 7.6 9.6 3.8 11.0 6.1 5.7 -8.3 Gross fixed capital formation (% of GDP)18.2 17.6 16.5 16.7 24.2 24.3 21.7 21.1p21.4p21.7pGross domestic expenditure on R&D (% of GDP)0.7 0.8 0.7 0.7 0.7 0.6 0.6 0.6 0.6p0.7 Current plus capital account (net lending-borrowing) (% of GDP)-0.8 1.5 1.8 7.3 5.4 -0.2 6.5 7.3 6.1 -2.3 Net international investment position excluding non-defaultable instruments (% of GDP) 215.4 260.8 216.5 205.7 191.3 213.1 226.4 230.3 234.9 270.2 Foreign direct investment in the reporting economy, flows (% of GDP)81.0 35.2 5.4 2.7 32.8 23.8 28.6 29.1 27.1 29.4 Foreign direct investment in the reporting economy, stocks (% of GDP)1999.1 1996.3 1898.1 1789.7 1662.6 1646.7 1529.6 1476.5 1426.9 1602.5 Net trade balance of energy products (% of GDP)-2.8 -11.9 -8.7 -14.4 -8.5 -8.1 -6.1 -8.6 -6.0 -5.5 Real effective exchange rate - euro area trading partners (3 year % change)1.9 1.1 0.1 0.7 0.8 1.8 1.2 0.3 0.0 0.7 Export performance against advanced economies (5 year % change)26.8 21.3 5.5 -7.4 9.5 14.4 21.8 16.4 18.6 13.7 Terms of trade (5 year % change)0.6 -0.2 0.3 1.2 2.0 3.1 4.0 4.1 3.7 2.4 Export market share in volume (1 year % change)-1.6 2.3 -2.7 -0.1 12.3 -0.7 5.4 -3.8 4.9 1.6 Labour productivity (1 year % change)-2.4 1.3 0.9 1.5 5.6 -0.7 2.8 0.1 0.0 -10.7 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana6.0e5.1e4.1e3.1e3.1e3.2e3.6pUnit labour cost performance relative to EA (10 year % change)5.3 6.9 6.0 3.6 5.0 7.2 7.4 11.1 13.3 20.7 House price index (2015=100) - nominal (3 year % change)-4.6 2.7 1.2 5.2 8.1 14.4 17.5 17.5 18.2 16.1pResidential construction (% of GDP)3.7 2.8 2.6 2.5 2.9 3.6 4.3 4.8p4.6p3.9pHousehold debt, consolidated (incl. NPISH, % of GDP)59.3 58.9 57.1 54.8 50.7 50.1 47.3 46.9 47.6 54.0 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)5.1e5.0e6.6e11.9e14.1e15.8e13.5e12.2e11.2e10.7pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.18 (continued): Auxiliary indicators for Malta   

155 

20112012201320142015201620172018201920201 year % change2.9 2.8 4.5 6.1 3.8 4.5 8.0 6.0 5.7 2.7 %61.8 63.9 66.3 67.8 68.8 70.6 72.2 74.7 75.9 77.1 %3.9 3.8 3.5 2.9 2.7 2.4 2.0 1.8 0.9 1.1 %13.3 13.8 12.7 11.7 11.6 10.7 10.6 9.1 9.3 10.9 %10.2 10.8 9.9 10.3 10.5 8.8 8.6b7.3 8.6 9.3 3 year change in pp1.9 0.9 0.4 0.1 -0.3 -1.1 -1.7b-3.2 -0.2 0.7b%22.1 23.1 24.6 23.9 23.0 20.3 19.3 19.0 20.1 19.0 3 year change in pp2.0 2.8 3.4 1.8 -0.1 -4.3 -4.6 -4.0 -0.2 -0.3 %15.6 15.1 15.8 15.8 16.6 16.5 16.7 16.8 17.1 16.9 3 year change in pp0.3 0.2 0.3 0.2 1.5 0.7 0.9 0.2 0.6 0.2 %6.6 9.2 10.2 10.3 8.5 4.4 3.3 3.0 3.6 3.3 3 year change in pp2.3 4.2 3.7 3.7 -0.7 -5.8 -7.0 -5.5 -0.8 0.0 %8.9 9.0 9.1 9.9 9.2 7.3 7.1 5.5 4.9 5.4 3 year change in pp0.3 -0.2 -0.1 1.0 0.2 -1.8 -2.8 -3.7 -2.4 -1.7 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1) Young people neither in employment nor in education and training, b = changes in the weighting procedure.Source: European Commission, EurostatMaltaEmploymentActivity 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 15-24People 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 5.19: Auxiliary indicators for Netherlands  

156 

Netherlands2011201220132014201520162017201820192020Real GDP (1 year % change) 1.6 -1.0 -0.1 1.4 2.0 2.2 2.9 2.4 2.0 -3.8pGross fixed capital formation (% of GDP)20.1 18.8 18.4 17.6 22.1 20.0 20.1 20.4 21.3 21.3pGross domestic expenditure on R&D (% of GDP)1.9b1.9b2.2b2.2 2.2 2.2 2.2 2.1 2.2pnaCurrent plus capital account (net lending-borrowing) (% of GDP)8.7 8.9 9.9 8.4 5.8 7.9 10.8 10.8 9.3 6.9 Net international investment position excluding non-defaultable instruments (% of GDP) -74.1 -69.6 -66.9 -45.8 -53.5 -34.1 -19.0 -17.0 -1.8 9.2 Foreign direct investment in the reporting economy, flows (% of GDP)37.1 29.4 37.5 13.0 42.2 29.8 26.4 -39.0 -18.5 -16.7 Foreign direct investment in the reporting economy, stocks (% of GDP)472.5 503.2 534.5 558.1 615.5 641.2 640.8 603.6 578.8 567.0 Net trade balance of energy products (% of GDP)-1.9 -2.6 -1.4 -1.6 -1.1 -0.6 -0.7 -1.4 -0.9 -0.5pReal effective exchange rate - euro area trading partners (3 year % change)0.0 -0.4 1.3 1.3 0.8 -0.6 -0.7 -0.8 0.9 2.0 Export performance against advanced economies (5 year % change)-1.2 -5.7 -5.9 -6.2 -6.4 -5.9 -0.6 -0.7 -1.8 7.9 Terms of trade (5 year % change)-2.9 -2.6 -2.0 -3.0 -0.1 2.0 1.8 1.3 1.9 1.8pExport market share in volume (1 year % change)-1.7 0.1 -1.1 0.9 4.3 -0.6 1.1 0.6 1.1 3.1pLabour productivity (1 year % change)0.7 -0.8 1.1 1.5 1.0 0.6 0.5 -0.4 0.0p-3.3pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanana3.4e2.7e2.4e2.1e1.9e1.8e1.9pUnit labour cost performance relative to EA (10 year % change)3.4 1.2 0.0 -0.1 -0.4 0.1 -1.7 -1.4 -1.3 3.0 House price index (2015=100) - nominal (3 year % change)-8.0 -10.1 -14.0 -11.6 -1.8 9.7 17.0 23.6 26.3 26.4pResidential construction (% of GDP)4.2 3.5 3.0 3.1 3.5 4.1 4.5 4.9 5.1 5.3pHousehold debt, consolidated (incl. NPISH, % of GDP)118.0 117.9 115.1 113.2 111.3 109.6 106.8 103.4 99.6p103.0pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)24.2e22.3e20.8e18.5e18.0e17.7e16.7e16.1e16.1e16.7pFlags:b:Break in series. e:Estimated. p:Provisional. 1) Official transmission deadline for 2020 data on Gross domestic expenditure on R&D is 31 October 2021 while data were extracted on 22 October 2021.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
Table 5.19 (continued): Auxiliary indicators for Netherlands   

157 

20112012201320142015201620172018201920201 year % change0.9 -0.2 -1.2 -0.1 1.0 1.5 2.4 2.7 2.0p-0.5p%78.1 79.0 79.4 79.0 79.6 79.7 79.7 80.3 80.9 80.9 %1.6 1.9 2.5 2.9 3.0 2.5 1.9 1.4 1.0 0.9 %10.0 11.7 13.2 12.7 11.3 10.8 8.9 7.2 6.7 9.1 %4.3 4.9 5.6b5.5 4.7 4.6 4.0 4.2 4.3 4.5 3 year change in pp0.4 -0.1 0.8b1.2 -0.2 -1.0b-1.5 -0.5 -0.3 0.5 %15.7 15.0 15.9 16.5 16.4 16.7b17.0 16.7 16.5 16.3p3 year change in pp0.8 -0.1 0.8 0.8 1.4 0.8b0.5 0.3 -0.2b-0.7p%11.0 10.1 10.4 11.6 11.6 12.7b13.2 13.3 13.2 13.6p3 year change in pp0.5 -1.0 0.1 0.6 1.5 2.3b1.6 1.7 0.5b0.4p%2.5 2.3 2.5 3.2 2.6 2.6b2.6 2.4 2.5 2.1p3 year change in pp1.0 0.9 0.3 0.7 0.3 0.1b-0.6 -0.2 -0.1b-0.5p%8.9 8.9 9.3 10.2 10.2 9.7b9.5 8.6 9.2 8.9p3 year change in pp0.7 0.4 0.9 1.3 1.3 0.4b-0.7 -1.6 -0.5b-0.6pPeople at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. 1) Income and Living Conditions indicators, 2016, b = introduction of CAWI, oversampling of lower income groups, use of register information for housing costs, changes in fieldwork period, weighting, calculation of imputed rent. Source: European Commission, EurostatNetherlandsEmploymentActivity 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 15-24People 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 5.20: Auxiliary indicators for Austria 

158 

Austria2011201220132014201520162017201820192020Real GDP (1 year % change) 2.9 0.7 0.0 0.7 1.0 2.0 2.3 2.5 1.5 -6.7 Gross fixed capital formation (% of GDP)22.5 22.6 23.0 22.7 22.7 23.1 23.6 24.1 25.0 25.2 Gross domestic expenditure on R&D (% of GDP)2.7 2.9e3.0 3.1e3.1 3.1e3.1 3.1p3.2p3.2pCurrent plus capital account (net lending-borrowing) (% of GDP)1.5 1.3 1.8 2.4 1.2 2.6 1.3 0.3 2.1 1.8 Net international investment position excluding non-defaultable instruments (% of GDP) -14.2 -16.0 -11.7 -11.3 -11.3 -9.4 -4.3 -6.2 -1.4 -5.6 Foreign direct investment in the reporting economy, flows (% of GDP)5.4 1.3 0.1 0.4 -2.1 -7.5 3.2 -6.6 -3.0 -4.1 Foreign direct investment in the reporting economy, stocks (% of GDP)72.8 74.7 75.2 77.8 75.4 65.0 71.1 61.4 58.0 57.4 Net trade balance of energy products (% of GDP)-3.7 -3.9 -3.5 -3.0 -2.3 -1.9 -2.1 -2.5 -2.2 -1.4 Real effective exchange rate - euro area trading partners (3 year % change)1.2 1.3 1.6 1.6 2.0 2.1 1.8 1.7 1.1 1.4 Export performance against advanced economies (5 year % change)-5.7 -15.4 -13.4 -10.9 -8.8 -5.8 0.4 0.5 -0.8 5.7 Terms of trade (5 year % change)-3.1 -3.2 -1.9 -2.7 0.4 3.2 2.5 2.1 0.5 -0.2 Export market share in volume (1 year % change)-1.0 -1.8 -3.0 -0.7 -0.1 0.7 -0.5 1.4 2.5 -2.9 Labour productivity (1 year % change)1.3 -0.4 -0.3 -0.3 0.4 0.7 0.6 0.8 0.3 -5.2 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana7.5e6.5e5.1e3.5e2.6e2.2e2.0pUnit labour cost performance relative to EA (10 year % change)-1.2 1.3 3.3 5.4 6.1 5.7 5.6 5.3 5.4 5.5 House price index (2015=100) - nominal (3 year % change)17.3e21.1e19.9 16.8 14.2 17.8 19.9 19.6 16.6 19.3 Residential construction (% of GDP)4.4 4.3 4.3 4.3 4.3 4.3 4.5 4.5 4.7 5.1 Household debt, consolidated (incl. NPISH, % of GDP)53.2 52.0 51.2 51.0 50.8 51.1 50.3 49.7 49.6 53.2 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)14.7e13.5e13.4e14.2e13.5e12.5e11.6e11.4e11.2e11.9pFlags:e:Estimated. p:Provisional. 1) House price index e = estimate by NCB.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.20 (continued): Auxiliary indicators for Austria 

159 

20112012201320142015201620172018201920201 year % change1.6 1.0 0.3 1.0 0.6 1.3 1.6 1.7 1.1 -1.6 %74.6 75.1 75.5 75.4 75.5 76.2 76.4 76.8 77.1 76.6 %1.2 1.2 1.3 1.5 1.7 1.9 1.8 1.4 1.1 1.3 %8.9 9.4 9.7 10.3 10.6 11.2 9.8 9.4 8.5 10.5 %7.3 6.8 7.3 7.7 7.5 7.7 6.5 6.8 7.1 8.0 3 year change in pp-0.1 -1.4 -0.1 0.4 0.7 0.4 -1.2 -0.7 -0.6 1.5 %19.2 18.5 18.8 19.2 18.3 18.0 18.1 17.5 16.9 17.5 3 year change in pp-1.4b-0.6 -0.1 0.0 -0.2 -0.8 -1.1 -0.8 -1.1 -0.6 %14.5 14.4 14.4 14.1 13.9 14.1 14.4 14.3 13.3 13.9 3 year change in pp-0.7 -0.1 -0.3 -0.4 -0.5 -0.3 0.3 0.4 -0.8 -0.5 %4.0 4.0 4.2 4.0 3.6 3.0 3.7 2.8 2.6 2.7 3 year change in pp-1.9 -0.6 -0.1 0.0 -0.4 -1.2 -0.3 -0.8 -0.4 -1.0 %8.6 7.7 7.8 9.1 8.2 8.1 8.3 7.3 7.8 7.1 3 year change in pp1.2b0.6 0.0 0.5 0.5 0.3 -0.8 -0.9 -0.3 -1.2 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. Source: European Commission, EurostatAustriaEmploymentActivity 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 15-24People 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 5.21: Auxiliary indicators for Poland 

160 

Poland2011201220132014201520162017201820192020Real GDP (1 year % change) 4.8 1.3 1.1 3.4 4.2 3.1 4.8 5.4 4.7 -2.5 Gross fixed capital formation (% of GDP)20.7 19.9 18.9 19.8 20.1 18.0 17.5 18.2 18.3 16.6 Gross domestic expenditure on R&D (% of GDP)0.8 0.9 0.9 0.9 1.0 1.0 1.0 1.2 1.3 1.4pCurrent plus capital account (net lending-borrowing) (% of GDP)-3.4 -1.8 0.5 -0.1 1.4 0.3 0.9 0.8 2.4 5.2 Net international investment position excluding non-defaultable instruments (% of GDP) -25.6 -26.5 -27.2 -26.4 -26.0 -22.9 -20.7 -16.8 -12.5 -6.2 Foreign direct investment in the reporting economy, flows (% of GDP)3.4 1.5 0.2 3.6 3.2 3.9 2.2 3.0 2.8 2.9 Foreign direct investment in the reporting economy, stocks (% of GDP)47.3 47.9 50.4 51.7 48.1 50.5 49.6 48.1 47.2 48.5 Net trade balance of energy products (% of GDP)-3.3 -3.4 -2.7 -2.6 -1.6 -1.4 -2.0 -2.7 -2.4 -1.6 Real effective exchange rate - euro area trading partners (3 year % change)-9.5 7.3 -3.3 -1.5 -2.1 -5.7 -3.2 -3.0 1.6 -1.0 Export performance against advanced economies (5 year % change)23.8 9.0 4.7 9.6 9.1 14.3 26.0 23.6 22.7 37.6 Terms of trade (5 year % change)0.3 -2.6 -0.1 -1.4 2.8 4.9 6.5 4.3 3.6 3.5 Export market share in volume (1 year % change)0.8 1.1 1.9 3.1 4.9 7.0 4.2 3.2 4.3 8.0 Labour productivity (1 year % change)4.2 1.2 1.2 1.6 2.7 2.3 3.4 4.8 4.8 -2.4pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanana7.2e6.6e6.4e6.6e6.2e6.1e6.0pUnit labour cost performance relative to EA (10 year % change)-7.7 -3.4 0.5 2.4 1.4 4.0 3.4 0.4 5.2 4.9 House price index (2015=100) - nominal (3 year % change)-6.4e-7.0e-7.6 -6.8 -2.0 4.4 7.4 12.7 20.3 28.0pResidential construction (% of GDP)3.0 3.2 3.0 3.1 2.5 2.4 2.2 1.9 1.9 2.0 Household debt, consolidated (incl. NPISH, % of GDP)35.2 34.2 35.3 35.8 36.0 36.6 34.9 35.0 34.4 34.8 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)9.9e9.1e9.0e9.3e9.2e9.4e8.8e9.3e9.7e10.5pFlags:e:Estimated. p:Provisional. 1) House price index e = Eurostat estimates.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.21 (continued): Auxiliary indicators for Poland  

161 

20112012201320142015201620172018201920201 year % change0.6 0.1 -0.1 1.7 1.5 0.8 1.3 0.5 0.0 -0.1p%65.7 66.5 67.0 67.9 68.1 68.8 69.6 70.1 70.6 71.0 %3.6 4.1 4.4 3.8 3.0 2.2 1.5 1.0 0.7 0.6 %25.8 26.5 27.3 23.9 20.8 17.7 14.8 11.7 9.9 10.8 %11.5 11.8 12.2b12.0 11.0 10.5 9.5 8.7b8.1 8.6 3 year change in pp2.5b1.7 1.4b0.5 -0.8 -1.7b-2.5 -2.3b-2.4 -0.9 %27.2 26.7 25.8 24.7 23.4 21.9 19.5 18.9 18.2 17.3p3 year change in pp-3.3b-1.1 -2.0 -2.5 -3.3 -3.9 -5.2 -4.5 -3.7 -2.2p%17.7 17.1 17.3 17.0 17.6 17.3 15.0 14.8 15.4 14.8p3 year change in pp0.8 0.0 -0.3 -0.7 0.5 0.0 -2.0 -2.8 -1.9 -0.2p%13.0 13.5 11.9 10.4 8.1 6.7 5.9 4.7 3.6 2.6p3 year change in pp-4.7b-1.5 -2.3 -2.6 -5.4 -5.2 -4.5 -3.4 -3.1 -3.3p%6.9 6.9 7.2 7.3 6.9 6.4 5.7 5.6 4.7 4.3p3 year change in pp-1.1 0.0 -0.1 0.4 0.0 -0.8 -1.6 -1.3 -1.7 -1.4pPolandEmploymentActivity 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 15-24People 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 0-59People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. 1) Young people neither in employment nor in education and training, 2018, b = changes in the weighting procedure; 2013, b = changes in the implementation of variables on education used for the derivation of the indicator.Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
Table 5.22: Auxiliary indicators for Portugal 

162 

Portugal2011201220132014201520162017201820192020Real GDP (1 year % change) -1.7 -4.1 -0.9 0.8 1.8 2.0 3.5 2.8 2.7 -8.4pGross fixed capital formation (% of GDP)18.4 15.8 14.8 15.0 15.5 15.5 16.8 17.5 18.1 19.1pGross domestic expenditure on R&D (% of GDP)1.5 1.4 1.3 1.3 1.2 1.3 1.3 1.4 1.4 1.6pCurrent plus capital account (net lending-borrowing) (% of GDP)-4.5 0.5 3.3 1.5 1.5 2.1 2.2 1.5 1.3 0.0 Net international investment position excluding non-defaultable instruments (% of GDP) -71.6 -82.1 -78.1 -77.7 -72.3 -64.2 -58.4 -55.3 -46.7 -47.0 Foreign direct investment in the reporting economy, flows (% of GDP)4.0 9.9 6.9 5.3 0.6 3.6 4.9 3.2 4.3 2.0 Foreign direct investment in the reporting economy, stocks (% of GDP)58.1 70.8 77.4 81.5 81.0 80.2 83.0 79.6 81.1 87.2 Net trade balance of energy products (% of GDP)-4.2 -4.7 -3.7 -3.6 -2.3 -1.6 -2.2 -2.5 -2.5 -1.7pReal effective exchange rate - euro area trading partners (3 year % change)-0.5 0.9 0.1 -1.2 -1.1 0.3 0.8 -0.3 -1.6 -1.9 Export performance against advanced economies (5 year % change)-2.9 -10.6 -2.5 -1.9 1.2 2.1 11.8 6.1 6.6 -0.4 Terms of trade (5 year % change)-0.4 -0.2 3.9 0.1 4.7 8.4 6.9 4.5 4.3 2.2pExport market share in volume (1 year % change)0.0 -0.1 3.6 0.7 3.2 2.1 3.0 0.4 3.2 -10.7pLabour productivity (1 year % change)0.3 0.0 2.0 -0.6 0.4 0.4 0.2 0.5 1.9 -6.7pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanana16.6e17.5e17.2e13.3e9.4e6.1e4.9pUnit labour cost performance relative to EA (10 year % change)-3.6 -8.5 -8.8 -10.1 -12.0 -11.2 -9.2 -6.4 -5.7 -1.0 House price index (2015=100) - nominal (3 year % change)-5.1 -11.0 -13.3 -4.9 5.4 15.1 20.6 29.0 32.1 31.1 Residential construction (% of GDP)3.3 3.0 2.5 2.5 2.4 2.6 2.8 3.1 3.2 3.4pHousehold debt, consolidated (incl. NPISH, % of GDP)90.5 90.5 86.1 81.9 77.0 72.6 69.2 66.0 63.5 69.5 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)19.6e15.5e14.8e13.7e12.4e12.9e10.6e11.0e10.8e11.4pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.22 (continued): Auxiliary indicators for Portugal 

163 

20112012201320142015201620172018201920201 year % change-1.9 -4.1 -2.9 1.4 1.4 1.6 3.3 2.3 0.8 -1.9p%73.6b73.4 73.0 73.2 73.4 73.7 74.7 75.1 75.5 74.3 %6.2b7.7 9.3 8.4 7.2 6.2 4.5 3.1 2.8 2.3 %30.3b37.9 38.1 34.8 32.0 28.0 23.9 20.3 18.3 22.6 %12.6b13.9 14.1 12.3 11.3 10.6 9.3 8.4 8.0 9.1 3 year change in pp2.4b2.7 2.7 -0.3b-2.6 -3.5 -3.0 -2.9 -2.6 -0.2 %24.4 25.3 27.5 27.5 26.6 25.1 23.3 21.6 21.6 19.8 3 year change in pp-1.6 0.4 2.2 3.1 1.3 -2.4 -4.2 -5.0 -3.5 -3.5 %18.0 17.9 18.7 19.5 19.5 19.0 18.3 17.3 17.2 16.2 3 year change in pp-0.5 0.0 0.8 1.5 1.6 0.3 -1.2 -2.2 -1.8 -2.1 %8.3 8.6 10.9 10.6 9.6 8.4 6.9 6.0 5.6 4.6 3 year change in pp-1.4 -0.5 1.9 2.3 1.0 -2.5 -3.7 -3.6 -2.8 -2.3 %8.3 10.1 12.2 12.2 10.9 9.1 8.0 7.2 6.2 5.1 3 year change in pp2.0 3.1 3.6 3.9 0.8 -3.1 -4.2 -3.7 -2.9 -2.9 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. Source: European Commission, EurostatPortugalEmploymentActivity 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 15-24People 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 5.23: Auxiliary indicators for Romania 

164 

Romania2011201220132014201520162017201820192020Real GDP (1 year % change) 1.9 2.0 3.8 3.6 3.0 4.7 7.3 4.5 4.2 -3.9pGross fixed capital formation (% of GDP)27.2 27.5 24.7 24.4 24.8 22.9 22.4 21.1 22.6 24.6pGross domestic expenditure on R&D (% of GDP)0.5b0.5 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.5pCurrent plus capital account (net lending-borrowing) (% of GDP)-4.5 -3.5 1.2 2.4 1.6 0.9 -1.9 -3.4 -3.6 -3.1 Net international investment position excluding non-defaultable instruments (% of GDP) -25.1 -25.1 -20.4 -14.5 -12.9 -6.4 -5.5 -3.9 -4.1 -7.2 Foreign direct investment in the reporting economy, flows (% of GDP)1.3 1.8 2.0 1.9 2.4 3.3 2.8 3.0 2.9 1.4 Foreign direct investment in the reporting economy, stocks (% of GDP)41.8 43.5 45.1 44.9 44.4 45.4 44.5 43.7 44.3 46.4 Net trade balance of energy products (% of GDP)-2.7 -3.1 -1.9 -1.4 -0.9 -0.9 -1.3 -1.6 -1.7 -1.2pReal effective exchange rate - euro area trading partners (3 year % change)-1.6 3.2 0.7 -1.3 2.2 -2.8 -5.1 -4.1 -1.2 1.0 Export performance against advanced economies (5 year % change)61.1 21.4 21.1 28.1 21.9 21.0 35.5 20.7 15.6 21.2 Terms of trade (5 year % change)17.6 4.6 2.7 3.7 5.7 3.6 5.1 5.2 4.8 5.4pExport market share in volume (1 year % change)5.2 -2.1 17.0 4.9 1.5 14.0 2.4 1.6 4.5 -1.8pLabour productivity (1 year % change)4.3 0.6 4.7 2.8 4.3 5.9 4.8 4.4 4.1 -2.2pGross non-performing loans of domestic and foreign entities  (% of gross loans)nanana20.7e13.4e9.7e6.6e5.0e4.3e3.9pUnit labour cost performance relative to EA (10 year % change)72.0 79.1 45.9 48.0 20.5 23.4 33.9 19.5 32.7 23.5 House price index (2015=100) - nominal (3 year % change)-38.2e-23.0 -17.0 -7.3 0.5 6.7 15.6 18.6 15.8 14.3 Residential construction (% of GDP)2.7 3.1 2.4 2.4 2.4 2.6 2.7 2.0 2.2 2.6pHousehold debt, consolidated (incl. NPISH, % of GDP)21.8 20.7 19.2 18.0 17.4 16.7 16.1 15.8 15.5 16.2 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)10.0e9.7e9.7e10.5e9.8e9.8e9.6e9.3e9.1e9.1pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index e = NSI estimates. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.23 (continued): Auxiliary indicators for Romania 

165 

20112012201320142015201620172018201920201 year % change-2.3 1.4 -0.9 0.8 -1.3 -1.1 2.4 0.1 0.1 -1.8p%64.1 64.8 64.9 65.7 66.1 65.6 67.3 67.8 68.6 69.2 %2.9 3.0 3.2 2.8 3.0 3.0 2.0 1.8 1.7 1.5 %23.9 22.6 23.7 24.0 21.7 20.6 18.3 16.2 16.8 17.3 %17.5 16.8 17.0 17.0 18.1 17.4 15.2 14.5 14.7 14.8 3 year change in pp5.9 2.9 0.4b-0.5 1.3 0.4 -1.8 -3.6 -2.7 -0.4 %40.9 43.2 41.9 40.3 37.4 38.8 35.7 32.5 31.2 30.4 3 year change in pp-3.3 0.2 0.4 -0.6 -5.8 -3.1 -4.6 -4.9 -7.6 -5.3 %22.3 22.9 23.0 25.1 25.4 25.3 23.6 23.5 23.8 23.4 3 year change in pp-1.3 0.8 1.4 2.8 2.5 2.3 -1.5 -1.9 -1.5 -0.2 %29.5 31.1 29.8 25.9 22.7 23.8 19.7 16.8 14.5 15.2 3 year change in pp-3.2 -1.0 -0.7 -3.6 -8.4 -6.0 -6.2 -5.9 -9.3 -4.5 %7.3 7.9 7.6 7.2 7.9 8.2 6.9 7.4 6.0 6.3 3 year change in pp-1.2 -0.2 -0.1 -0.1 0.0 0.6 -0.3 -0.5 -2.2 -0.6 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. Source: European Commission, EurostatRomaniaEmploymentActivity 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 15-24People 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 5.24: Auxiliary indicators for Slovenia 

166 

Slovenia2011201220132014201520162017201820192020Real GDP (1 year % change) 0.9 -2.6 -1.0 2.8 2.2 3.2 4.8 4.4 3.3 -4.2 Gross fixed capital formation (% of GDP)19.9 19.0 19.6 19.1 18.7 17.4 18.3 19.3 19.6 18.9 Gross domestic expenditure on R&D (% of GDP)2.4b2.6 2.6 2.4 2.2 2.0 1.9 2.0 2.0p2.2pCurrent plus capital account (net lending-borrowing) (% of GDP)-1.1 1.4 3.7 5.3 4.9 4.0 5.5 5.5 5.6 6.9 Net international investment position excluding non-defaultable instruments (% of GDP) -35.4 -37.6 -32.8 -28.5 -19.0 -14.7 -9.6 -0.9 1.1 2.0 Foreign direct investment in the reporting economy, flows (% of GDP)1.7 0.1 0.2 2.0 4.0 3.2 2.5 2.9 4.0 0.9 Foreign direct investment in the reporting economy, stocks (% of GDP)28.5 29.6 28.9 31.5 34.4 37.1 37.9 39.2 40.5 42.9 Net trade balance of energy products (% of GDP)-6.2 -6.7 -5.5 -4.1 -3.1 -2.1 -2.6 -2.9 -3.5 -2.0 Real effective exchange rate - euro area trading partners (3 year % change)0.4 0.2 0.0 0.4 -0.9 -1.8 -1.6 -0.4 0.4 -0.2 Export performance against advanced economies (5 year % change)1.7 -14.4 -13.3 -8.0 -4.5 0.3 15.6 16.9 14.0 20.8 Terms of trade (5 year % change)-2.4 -4.3 -2.3 -4.6 0.6 2.9 3.4 2.5 2.0 1.4 Export market share in volume (1 year % change)0.0 -2.7 -0.5 2.4 1.6 3.9 5.7 2.5 3.6 -0.8 Labour productivity (1 year % change)2.6 -1.7 0.1 2.3 0.9 1.3 1.9 1.2 0.8 -3.7 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana22.8e17.9e12.3e9.2e6.0e3.4e3.0pUnit labour cost performance relative to EA (10 year % change)17.9 11.4 7.9 2.9 2.1 2.2 1.2 -0.6 -2.0 -0.5 House price index (2015=100) - nominal (3 year % change)-6.9 -4.2 -9.4 -17.6 -10.8 -2.8 12.7 21.6 25.6 21.4 Residential construction (% of GDP)2.8 2.5 2.4 2.2 2.1 2.1 2.1 2.1 2.2 2.3 Household debt, consolidated (incl. NPISH, % of GDP)29.9 30.7 29.6 28.3 27.6 27.3 27.1 26.9 26.9 27.8 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)13.3e12.9e11.3e9.3e8.6e8.0e8.0e8.2e8.2e9.3pFlags:b:Break in series. e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.24 (continued): Auxiliary indicators for Slovenia 

167 

20112012201320142015201620172018201920201 year % change-1.7 -0.9 -1.1 0.4 1.3 1.8 2.9 3.2 2.5 -0.6 %70.3 70.4 70.5 70.9 71.8 71.6 74.2 75.0 75.2 74.6 %3.6 4.3 5.2 5.3 4.7 4.3 3.1 2.2 1.9 1.9 %15.7 20.6 21.6 20.2 16.3 15.2 11.2 8.8 8.1 14.2 %7.1 9.3 9.2 9.4 9.5 8.0 6.5 6.6 7.0 7.7 3 year change in pp0.6 1.8 2.1 2.3 0.2 -1.2 -2.9 -2.9 -1.0 1.2 %19.3 19.6 20.4 20.4 19.2 18.4 17.1 16.2 14.4 15.0 3 year change in pp0.8 2.5 2.1 1.1 -0.4 -2.0 -3.3 -3.0 -4.0 -2.1 %13.6 13.5 14.5 14.5 14.3 13.9 13.3 13.3 12.0 12.4 3 year change in pp1.3 2.2 1.8 0.9 0.8 -0.6 -1.2 -1.0 -1.9 -0.9 %6.1 6.6 6.7 6.6 5.8 5.4 4.6 3.7 2.6 3.0 3 year change in pp-0.6 0.5 0.8 0.5 -0.8 -1.3 -2.0 -2.1 -2.8 -1.6 %7.6 7.5 8.0 8.7 7.4 7.4 6.2 5.4 5.2 4.8 3 year change in pp0.9 1.9 1.0 1.1 -0.1 -0.6 -2.5 -2.0 -2.2 -1.4 SloveniaEmploymentActivity 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 15-24People 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 0-59People at risk of poverty or social exclusion - % of total populationSource: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 5.25: Auxiliary indicators for Slovakia 

168 

Slovakia2011201220132014201520162017201820192020Real GDP (1 year % change) 2.6 1.4 0.7 2.7 5.2 1.9 3.0 3.8 2.6 -4.4 Gross fixed capital formation (% of GDP)23.3 20.4 20.5 20.5 23.7 21.1 21.2 21.0 21.6 19.6 Gross domestic expenditure on R&D (% of GDP)0.7 0.8 0.8 0.9 1.2 0.8 0.9 0.8 0.8 0.9 Current plus capital account (net lending-borrowing) (% of GDP)-3.7 2.9 3.3 2.1 1.1 -1.0 -1.8 -1.2 -2.6 1.3 Net international investment position excluding non-defaultable instruments (% of GDP) -12.4 -8.6 -10.5 -13.0 -14.0 -14.8 -15.2 -16.6 -14.1 -14.8 Foreign direct investment in the reporting economy, flows (% of GDP)5.5 1.8 1.0 -0.4 1.7 5.3 4.4 2.1 2.2 -0.2 Foreign direct investment in the reporting economy, stocks (% of GDP)65.0 64.1 64.7 62.1 62.7 70.9 71.5 71.1 69.9 70.4 Net trade balance of energy products (% of GDP)-6.8 -5.7 -6.0 -4.0 -3.0 -2.5 -2.9 -4.0 -3.1 -2.1 Real effective exchange rate - euro area trading partners (3 year % change)4.9 1.9 2.5 0.5 -1.5 -2.2 -1.7 -0.4 1.9 3.8 Export performance against advanced economies (5 year % change)4.8 -3.0 1.8 7.8 4.4 4.1 3.0 -0.2 -0.3 8.6 Terms of trade (5 year % change)-5.9 -6.0 -4.8 -3.7 -3.2 -2.3 -1.6 -1.7 -2.0 -2.2 Export market share in volume (1 year % change)3.7 5.9 2.4 0.1 3.5 2.7 -1.7 1.4 -0.1 0.6 Labour productivity (1 year % change)0.8 1.3 1.4 1.3 3.2 -0.4 0.8 1.8 1.5 -2.5 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana5.2e4.4e4.6e3.7e3.2e2.9e2.5pUnit labour cost performance relative to EA (10 year % change)9.6 5.5 3.9 1.8 -0.9 -0.7 3.8 5.3 6.9 10.1 House price index (2015=100) - nominal (3 year % change)-17.5 -8.0 -3.3 -0.4 7.8 14.0 19.0 21.3 24.1 28.4 Residential construction (% of GDP)2.8 2.9 3.2 2.7 2.5 3.1 3.1 3.3 3.3 3.9 Household debt, consolidated (incl. NPISH, % of GDP)26.1 28.2 29.7 32.5 34.4 38.4 41.0 42.4 43.6 47.2 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)9.4e8.5e8.2e8.4e9.0e9.2e9.3e9.5e9.6e9.7pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.25 (continued): Auxiliary indicators for Slovakia 

169 

20112012201320142015201620172018201920201 year % change1.8 0.1 -0.8 1.4 2.0 2.4 2.2 2.0 1.0 -1.9 %68.7b69.4 69.9 70.3 70.9 71.9 72.1 72.4 72.7 72.4 %9.2b9.4 10.0 9.3 7.6 5.8 5.1 4.0 3.4 3.2 %33.4b34.0 33.7 29.7 26.5 22.2 18.9 14.9 16.1 19.3 %13.8b13.8 13.7 12.8 13.7 12.3 12.1 10.2 10.3 10.7 3 year change in pp2.7b1.3 -0.4 -1.0b-0.1 -1.4 -0.7 -3.5 -2.0 -1.4 %20.6 20.5 19.8 18.4 18.4 18.1 16.3 16.3 16.4 14.8p3 year change in pp0.0 0.9 -0.8 -2.2 -2.1 -1.7 -2.1 -2.1 -1.7 -1.5p%13.0 13.2 12.8 12.6 12.3 12.7 12.4 12.2 11.9 11.4p3 year change in pp2.1 2.2 0.8 -0.4 -0.9 -0.1 -0.2 -0.1 -0.8 -1.0p%10.6 10.5 10.2 9.9 9.0 8.2 7.0 7.0 7.9 5.9p3 year change in pp-1.2 -0.6 -1.2 -0.7 -1.5 -2.0 -2.9 -2.0 -0.3 -1.1p%7.7 7.2 7.6 7.1 7.1 6.5 5.4 5.2 6.2 4.3p3 year change in pp2.5 1.6 -0.3 -0.6 -0.1 -1.1 -1.7 -1.9 -0.3 -1.1pPeople at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. Source: European Commission, EurostatSlovakiaEmploymentActivity 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 15-24People 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 5.26: Auxiliary indicators for Finland 

170 

Finland2011201220132014201520162017201820192020Real GDP (1 year % change) 2.5 -1.4 -0.9 -0.4 0.5 2.8 3.2 1.1 1.3 -2.9 Gross fixed capital formation (% of GDP)22.6 23.1 22.0 21.5 21.2 22.7 23.3 24.1 23.7 24.2 Gross domestic expenditure on R&D (% of GDP)3.6 3.4 3.3 3.2 2.9 2.7 2.7 2.8 2.8 2.9 Current plus capital account (net lending-borrowing) (% of GDP)-1.3 -2.0 -1.7 -1.2 -0.9 -1.9 -0.7 -1.8 -0.2 0.9 Net international investment position excluding non-defaultable instruments (% of GDP) 2.9 -2.2 -4.6 0.1 15.2 10.2 4.8 -0.8 6.8 4.9 Foreign direct investment in the reporting economy, flows (% of GDP)-2.2 1.9 -1.9 6.4 7.4 2.1 6.9 -3.9 5.8 -0.8 Foreign direct investment in the reporting economy, stocks (% of GDP)50.4 51.7 46.6 52.0 57.3 54.5 56.8 46.6 51.0 50.3 Net trade balance of energy products (% of GDP)-3.7 -2.6 -2.6 -2.4 -1.8 -1.4 -1.6 -2.0 -1.7 -0.9 Real effective exchange rate - euro area trading partners (3 year % change)2.2 1.6 1.9 2.0 0.9 0.3 -1.2 -1.4 -1.7 -1.0 Export performance against advanced economies (5 year % change)-17.6 -26.9 -28.3 -23.1 -22.8 -18.3 -7.0 -6.2 1.5 12.8 Terms of trade (5 year % change)-4.3 -5.3 -2.7 -3.2 1.9 3.2 3.8 3.8 2.4 0.1 Export market share in volume (1 year % change)-4.9 -3.0 -3.0 -5.6 -2.7 1.6 3.4 -2.2 5.9 1.1 Labour productivity (1 year % change)0.9 -2.2 -0.1 0.1 0.6 2.3 2.1 -1.3 -0.4 -0.8 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana1.6e1.5e1.4e1.2e1.5e1.4e1.5pUnit labour cost performance relative to EA (10 year % change)2.3 6.2 8.4 9.2 8.4 5.4 2.6 1.2 -2.9 -5.5 House price index (2015=100) - nominal (3 year % change)11.3 12.3 6.9 3.2 0.8b0.5 2.4 3.4 3.7 3.9 Residential construction (% of GDP)6.6 6.7 6.4 6.0 6.0 6.6 6.8 7.2 7.0 7.1 Household debt, consolidated (incl. NPISH, % of GDP)59.0 61.0 61.5 62.5 63.3 64.1 64.4 65.2 65.7 69.6 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)26.1e26.3e21.7e24.3e19.1e17.7e18.9e16.1e16.6e16.0pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index b = break in time series due to new calculation method for New dwellings (apartments).Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.26 (continued): Auxiliary indicators for Finland 

171 

20112012201320142015201620172018201920201 year % change1.6 0.9 -0.8 -0.4 -0.1 0.5 1.0 2.5 1.8 -2.1 %74.9 75.2 75.2 75.4 75.8 75.9 76.7 77.9 78.3 78.3 %1.7 1.6 1.7 1.9 2.3 2.3 2.1 1.6 1.2 1.2 %20.1 19.0 19.9 20.5 22.4 20.1 20.1 17.0 17.2 21.4 %8.4 8.6 9.3 10.2 10.6 9.9 9.4 8.5 8.2 9.3 3 year change in pp0.6 -1.3 0.3 1.8 2.0 0.6 -0.8 -2.1 -1.7 -0.1 %17.9 17.2 16.0 17.3 16.8 16.6 15.7 16.5 15.6 16.0 3 year change in pp0.5 0.3 -0.9 -0.6 -0.4 0.6 -1.6 -0.3 -1.0 0.3 %13.7 13.2 11.8 12.8 12.4 11.6 11.5 12.0 11.6 12.2 3 year change in pp0.1 -0.6 -1.3 -0.9 -0.8 -0.2 -1.3 -0.4 0.0 0.7 %3.2 2.9 2.5 2.8 2.2 2.2 2.1 2.8 2.4 2.6 3 year change in pp-0.3 0.1 -0.3 -0.4 -0.7 -0.3 -0.7 0.6 0.2 0.5 %10.0 9.3 9.0 10.0 10.8 11.4 10.7 10.8 9.7 9.9 3 year change in pp2.5 0.9 -0.3 0.0 1.5 2.4 0.7 0.0 -1.7 -0.8 People 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 0-59People at risk of poverty or social exclusion - % of total populationSource: European Commission, EurostatFinlandEmploymentActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.27: Auxiliary indicators for Sweden 

172 

Sweden2011201220132014201520162017201820192020Real GDP (1 year % change) 3.2 -0.6 1.2 2.7 4.5 2.1 2.6 2.0 2.0 -2.8 Gross fixed capital formation (% of GDP)22.9 22.7 22.4 23.2 23.8 24.2 25.1 25.2 24.4 24.8 Gross domestic expenditure on R&D (% of GDP)3.2 3.2e3.3e3.1e3.2 3.3p3.4 3.3 3.4e3.5pCurrent plus capital account (net lending-borrowing) (% of GDP)5.2 5.3 5.0 4.1 3.2 2.3 2.9 2.7 5.5 5.7 Net international investment position excluding non-defaultable instruments (% of GDP) -18.6 -20.5 -25.6 -22.8 -15.1 -13.7 -10.0 -14.5 -7.8 -4.5 Foreign direct investment in the reporting economy, flows (% of GDP)1.1 0.8 0.2 -1.7 2.0 2.9 5.2 -0.1 3.2 5.3 Foreign direct investment in the reporting economy, stocks (% of GDP)90.0 90.1 89.5 83.4 83.9 85.3 88.5 86.2 87.8 92.4 Net trade balance of energy products (% of GDP)-1.8 -1.7 -1.5 -1.3 -0.8 -0.8 -0.9 -1.3 -1.1 -0.8 Real effective exchange rate - euro area trading partners (3 year % change)7.4 19.3 5.9 -3.8 -7.9 -7.9 -4.0 -7.6 -9.7 -7.4 Export performance against advanced economies (5 year % change)-5.4 -13.0 -11.6 -4.7 -10.0 -12.1 -7.5 -8.8 -4.4 5.0 Terms of trade (5 year % change)1.1 -0.3 0.2 -0.8 0.3 1.3 0.4 -1.1 -0.8 -0.8 Export market share in volume (1 year % change)-0.2 -2.1 -4.7 0.8 2.7 0.1 -1.3 0.5 5.1 3.3 Labour productivity (1 year % change)0.9 -1.3 0.2 1.2 3.0 0.2 0.1 0.3 1.4 -1.5 Gross non-performing loans of domestic and foreign entities  (% of gross loans)nanana1.3e1.3e1.2e1.3e1.0e1.1e1.0pUnit labour cost performance relative to EA (10 year % change)-1.5 1.7 3.6 5.4 5.3 7.4 5.7 5.9 6.2 7.4 House price index (2015=100) - nominal (3 year % change)14.1 12.0 9.2 16.5 30.2 34.0 30.6 14.4 8.3 5.8 Residential construction (% of GDP)4.0 3.5 3.6 4.2 4.7 5.3 5.7 5.2 4.7 5.0 Household debt, consolidated (incl. NPISH, % of GDP)76.5 79.3 81.2 82.1 82.4 85.7 87.2 88.1 88.5 94.7 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)24.1e22.1e21.3e20.6e18.8e17.6e16.5e18.1e17.9e17.6pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.27 (continued): Auxiliary indicators for Sweden 

173 

20112012201320142015201620172018201920201 year % change2.3 0.7 1.0 1.4 1.5 1.9 2.5 1.6 0.6 -1.3 %79.9 80.3 81.1 81.5 81.7 82.1 82.5 82.7b82.9 82.5 %1.5 1.5 1.4 1.4 1.5 1.3 1.2 1.1b0.9 1.1 %22.8 23.6 23.5 22.9 20.4 18.9 17.9 17.4b20.1 23.9 %7.5 7.8 7.5 7.2 6.7 6.5 6.2 6.0b5.5 6.5 3 year change in pp-0.3b-1.8 -0.2 -0.3 -1.1 -1.0 -1.0 -0.7b-1.0 0.3 %18.5 17.7 18.3 18.2 18.6 18.3 17.7 18.0 18.8 17.9 3 year change in pp1.8b-0.1 0.6 -0.3 0.9 0.0 -0.5 -0.6 0.5 0.2 %15.4 15.2 16.0 15.6 16.3 16.2 15.8 16.4 17.1 16.1 3 year change in pp1.9b0.8 1.2 0.2 1.1 0.2 0.2 0.1 0.9 0.3 %1.7 1.8 1.9 1.0 1.1 0.8 1.1 1.6 1.8 1.8u3 year change in pp-0.1b-0.2 0.0 -0.7 -0.7 -1.1 0.1 0.5 1.0 0.7u%9.4 8.1 9.4 9.0 8.7 8.5 8.8 9.1 8.6 8.5 3 year change in pp2.4b-0.4 0.9 -0.4 0.6 -0.9 -0.2 0.4 0.1 -0.3 Young people neither in employment nor in education and training - % of total population aged 15-24People 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 0-59People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. u:Low reliability. Source: European Commission, EurostatSwedenEmploymentActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74Youth unemployment rate - % of active population aged 15-24 
 
 
 
 
 
 
 
 
 
 
Chapter 6: Tables by year - MIP Scoreboard (base indicators) 
Table 6.1: MIP Scoreboard (base indicators) 2020 

174 

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)BE0.8 44.4 1.3 5.6 4.4p3.61.1p192.0p112.8 5.6 8.8 68.6 2.3 15.3 BG-0.3 -26.3 2.9 -0.5 9.5 5.2p4.2 94.3 24.7 5.1 11.1 72.2 2.3 14.2 CZ3.6 -12.5 0.7 4.2 7.7 5.52.4 81.9 37.7 2.6 3.4 76.4 0.6 8.0 DK8.1 68.8 1.5 6.3 3.8 4.64.8 220.9 42.1 5.6 5.7 79.0 0.9 11.6 DE6.9 61.7 1.4 2.5 4.3p7.16.0p120.1p68.7 3.8bp11.3 79.3bp1.1bp7.4bpEE-0.3 -21.5 0.7 5.6 5.5 6.93.6 104.4 19.0 6.8 17.5 79.3 1.2 17.9 IE-2.7 -174.0 0.3 21.7 -4.7 -0.2-1.8 188.9 58.4 5.7 7.2 71.9 1.3 15.3 EL-6.6 -175.0 0.4 -19.3 7.8p5.5e5.4p125.3p206.3 16.3 27.4 67.4 10.9 35.0 ES0.8 -85.5 0.7 -10.3 6.1p2.24.4p146.4p120.0 15.5 9.5 72.2 5.0 38.3 FR-1.9 -30.2 1.5 -5.6 4.4p4.413.0p173.7p115.0 8.0 11.6p71.0 2.9 20.2 HR-0.1 -47.8 -0.5 -15.1 9.8p7.31.3p98.0p87.3 7.5 7.3 67.1 2.1 21.1 IT3.8 2.4 0.9 -2.9 2.1 2.24.1 118.9 155.6 9.2 6.8 64.1 4.7 29.4 CY-10.1 -136.7 0.5 6.9 1.6p0.7p-2.6p260.5p115.3 7.6 -2.5 75.8 2.1 18.2 LV2.9 -34.7 2.0 10.2 6.9 2.7-1.8 66.5 43.2 8.1 10.8 78.2 2.2 14.9 LT7.3 -15.8 3.3 9.4 5.7 6.40.3 54.7 46.6 8.5 28.5 78.5 2.5 19.6 LU4.3 39.9 0.4 14.3 4.1 13.844.5 316.8 24.8 6.8 -3.6 72.2 1.7 23.2 HU-1.5 -48.1 -3.6 3.2 5.9p1.9p7.7p76.4p80.1 4.3 55.3 72.8 1.1 12.8 MT-2.9 60.3 1.4 4.1 11.7 2.2p9.0 139.1 53.4 4.4 1.9 77.1 1.1 10.9 NL7.0 113.9 1.8 5.4 8.3p6.0p-1.3p233.7p54.3 3.8 3.3p80.9 0.9 9.1 AT1.9 9.3 2.1 0.6 7.3 6.24.7 131.2 83.2 5.4 10.6 76.6 1.3 10.5 PL2.9 -44.5 1.1 12.9 6.3p7.1p1.5 75.9 57.4 3.2 11.7 71.0 0.6 10.8 PT-1.1 -106.4 0.8 -9.8 9.3p7.74.4p163.7p135.2 6.9 7.2 74.3 2.3 22.6 RO-5.0 -48.3 1.4 2.4 9.3p2.31.3p48.5p47.4 5.0 13.4 69.2 1.5 17.3 SI7.4 -15.2 0.6 2.1 7.4 5.2-0.9 69.7 79.8 5.0 14.0 74.6 1.9 14.2 SK0.1 -65.7 2.5 3.7 6.3 7.23.7 95.3 59.7 6.7 9.9 72.4 3.2 19.3 FI0.8 -5.3 1.6 1.4 1.6 1.36.5 155.2 69.5 7.8 7.7 78.3 1.2 21.4 SE5.7 16.4 3.0 5.4 4.1 3.011.6 215.7 39.7 8.3 11.2 82.5 1.1 23.9 Year2020External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:b:Break in series. p:Provisional. e:Estimated. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index e = estimate by NCB for EL. 3) Labour Force Survey indicators, b = due to technical issues with the introduction of the new German system of integrated household surveys, including the LFS, the figures for Germany in 2020 are not direct estimates from LFS micro-data, but based on a larger sample including additional data from other integrated household surveys.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 6.2: MIP Scoreboard (base indicators) 2019 

175 

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)BE0.2 41.1 -1.2 -0.7 1.5 2.67.6 186.6 97.7 5.4 4.8 69.0 2.3 14.2 BG1.9 -30.2 0.0 2.8 3.1 3.95.6 90.7 20.0 4.2 5.2 73.2 2.4 8.9 CZ0.3 -19.8 0.3 -0.9 4.3 6.21.4 78.6 30.0 2.0 4.6 76.7 0.6 5.6 DK8.8 77.5 -1.8 3.4 1.2 1.610.7 221.0 33.6 5.0 13.1 79.1 0.8 10.1 DE7.4 58.8 -1.5 -1.9 3.2p4.45.8p110.7p58.9 3.1 7.4 79.2 1.2 5.8 EE2.5 -22.8 0.0 3.1 5.5 4.43.4 99.0 8.6 4.4 11.7 78.9 0.9 11.1 IE-19.9 -193.5 -2.7 9.8 1.4 0.3-9.6 209.4 57.2 5.0 15.3 73.3 1.6 12.5 EL-1.5 -154.2 -2.1 0.8 -0.3p7.2e-0.9p110.5p180.7 17.3 11.8 68.4 12.2 35.2 ES2.1 -75.0 -1.7 -0.8 3.0p4.11.1p128.6p95.5 14.1 0.7 73.8 5.3 32.5 FR-0.3 -25.3 -1.4 -0.7 -0.7p2.57.9p152.5p97.5 8.4 7.3 71.7 3.4 19.5 HR3.0 -46.7 -1.5 4.4 0.0p7.81.2 88.3 71.1 6.6 6.7 66.5 2.4 16.6 IT3.2 -1.0 -2.2 -1.3 1.4 -0.70.3 106.1 134.3 10.0 4.6 65.7 5.6 29.2 CY-5.7 -116.1 -2.2 3.5 2.9 2.61.7 249.9 91.1 7.1 5.6 76.0 2.1 16.6 LV-0.7 -40.1 0.0 -1.3 5.1 5.81.1 66.2 36.7 6.3 4.6 77.3 2.4 12.4 LT3.5 -24.0 -0.7 6.5 6.3 4.62.6 55.3 35.9 6.3 6.2 78.0 1.9 11.9 LU4.6 58.2 -0.6 4.2 2.1 8.319.6 302.0 22.3 5.6 3.8 72.0 1.3 17.0 HU-0.7 -48.7 -0.8 1.2 3.4 11.83.9 67.1 65.5 3.4 36.7 72.6 1.1 11.4 MT5.4 53.2 -1.2 4.4 3.5 4.210.2 121.3 40.7 3.6 7.1 75.9 0.9 9.3 NL9.4 89.9 0.4 -1.2 2.9p4.6-0.1 232.3p48.5 3.4 6.3p80.9 1.0 6.7 AT2.1 13.5 -1.0 -0.5 2.5 4.05.0 121.5 70.6 4.5 4.3 77.1 1.1 8.5 PL0.5 -49.8 -0.9 3.8 2.4 6.13.6 73.9 45.6 3.3 4.3 70.6 0.7 9.9 PT0.4 -100.0 -1.9 0.9 2.8 8.72.6 149.5 116.6 6.5 -0.2 75.5 2.8 18.3 RO-4.9 -43.6 -0.3 1.6 6.6 -1.92.0 46.7 35.3 3.9 10.3 68.6 1.7 16.8 SI6.0 -15.9 -0.5 0.8 4.2 5.30.8 68.8 65.6 4.5 9.9 75.2 1.9 8.1 SK-3.4 -65.9 0.6 -2.2 5.2 6.24.3 92.1 48.1 5.8 5.6 72.7 3.4 16.1 FI-0.3 4.0 -1.5 2.8 1.7 0.06.5 146.6 59.5 6.7 7.8 78.3 1.2 17.2 SE5.5 17.7 -3.8 3.0 1.5 0.49.9 203.2 34.9 6.8 10.7 82.9 0.9 20.1 Flags:e:Estimated. p:Provisional. Year2019External imbalances and competitivenessInternal imbalancesEmployment indicators¹1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index e = estimate by NCB for EL. 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) 2018 

176 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (2010=100)(% y-o-y change)House price index (2015=100), deflated (% y-o-y change) Private sector credit flow, consolidated (% of GDP)Private sector debt, consolidated (% of GDP)General government gross debt (% of GDP)Unemployment rate (level year)Total financial sector liabilities, non-consolidated(% y-o-y change)Activity rate - % of total population aged 15-64(level year)Long-term unemployment rate - % of active population aged 15-74(level year)Youth unemployment rate - % of active population aged 15-24(level year)BE-0.8 34.3 2.5 -1.5 1.5 0.82.6 184.6 99.9 6.0 -3.3 68.6 2.9 15.8 BG0.9 -37.0 4.0 0.2 6.7 4.13.9 95.0 22.1 5.2 6.6 71.5 3.0 12.7 CZ0.4 -24.4 4.4 1.0 6.1 5.96.8 83.0 32.1 2.2 3.4 76.6 0.7 6.7 DK7.3 64.0 1.2 0.5 1.1 3.74.8 215.3 34.0 5.1 -0.3 78.2 1.0 10.5 DE7.8 52.6 2.7 -1.3 3.2p5.16.1p107.7p61.3 3.4 1.9 78.6 1.4 6.2 EE0.8 -30.0 4.5 1.6 5.2 2.24.6 101.7 8.2 5.4 6.6 79.1 1.3 11.8 IE5.2 -183.6 1.3 6.4 -3.0 8.1-8.8 231.2 63.1 5.8 5.2 72.9 2.1 13.8 EL-2.9 -148.6 2.1 7.6 -1.0 1.7e-0.9 119.2 186.4 19.3 -4.9 68.2 13.6 39.9 ES1.9 -80.1 2.1 -1.1 1.5 5.20.0 132.7 97.5 15.3 -1.8 73.7 6.4 34.3 FR-0.8 -19.3 2.6 0.3 0.8 1.28.2 148.3 97.8 9.0 1.7b71.9 3.8 20.8 HR1.8 -55.7 2.5 1.2 3.6p4.62.2 92.0 73.3 8.5 4.5 66.3 3.4 23.7 IT2.5 -4.3 1.9 -0.7 2.0 -1.52.0 107.8 134.4 10.6 0.0 65.6 6.2 32.2 CY-4.0 -125.6 1.8 3.5 1.1 0.511.5 282.9 98.4 8.4 -1.8 75.0 2.7 20.2 LV-0.2 -45.2 3.9 3.0 5.4 6.3-0.2 69.7 37.1 7.4 -3.5 77.7 3.1 12.2 LT0.3 -30.5 4.2 5.0 5.2 4.54.3 56.1 33.7 6.2 9.1 77.3 2.0 11.1 LU4.7 33.0 1.6 0.7 4.5 5.15.2 282.7 20.8 5.6 -1.1 71.1 1.4 14.2 HU0.2 -50.7 -0.5 -0.3 3.3 10.74.2 68.7 69.1 3.7 -9.1 71.9 1.4 10.2 MT6.4 55.4 2.0 -3.1 3.5 5.06.9 121.3 43.6 3.7 2.7 74.7 1.8 9.1 NL10.8 72.8 1.5 1.6 2.3 7.15.6 243.6 52.4 3.8 -2.8 80.3 1.4 7.2 AT0.9 6.0 2.1 2.2 2.1 2.64.9 122.7 74.0 4.9 -0.8 76.8 1.4 9.4 PL-1.3 -55.9 1.0 3.6 3.2 4.83.7 76.8 48.8 3.9 3.3 70.1 1.0 11.7 PT0.6 -106.4 1.0 1.6 3.4 8.60.8 155.1 121.5 7.1 0.4 75.1 3.1 20.3 RO-4.6 -43.8 2.3 3.6 8.2 1.71.9 47.5 34.7 4.2 3.4 67.8 1.8 16.2 SI6.0 -18.9 1.8 3.9 2.7 6.61.3 72.6 70.3 5.1 4.1 75.0 2.2 8.8 SK-2.2 -69.8 2.1 2.0 4.2 4.97.3 91.9 49.6 6.5 9.0 72.4 4.0 14.9 FI-1.8 -5.6 2.3 0.9 2.6 -0.24.3 144.5 59.8 7.4 20.1 77.9 1.6 17.0 SE2.6 8.0 -4.0 -2.2 3.5 -3.39.0 201.0 38.9 6.4b-2.7 82.7b1.1b17.4bYear2018External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags: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 = estimate by NCB for EL. 3) In Total financial sector liabilities, the increase for FI is largely explained by international group changes in the deposit-taking corporations sector.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) 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 56.0 1.5 0.3 1.9 1.72.0 187.8 102.0 7.1b1.4 68.0b3.5b19.3bBG3.3 -43.0 0.6 4.6 9.5 3.94.5 98.6 25.1 6.2 7.1 71.3 3.4 12.9 CZ1.5 -24.9 3.7 1.2 3.5 9.16.0 80.3 34.2 2.9 28.3 75.9 1.0 7.9 DK8.0 55.4 0.4 -0.6 0.3 3.52.0 216.7 35.9 5.8b2.5 77.9b1.2b12.4bDE7.8 42.0 1.0 -1.2 1.3 4.64.1 106.6 64.7 3.8 4.1 78.2 1.6 6.8 EE2.3 -33.0 1.5 -0.1 3.9 1.14.2 106.2 9.1 5.8 12.3 78.8 1.9 12.1 IE0.5 -167.3 0.0 1.4 -2.7 9.80.3 249.8 67.8 6.7 4.2 72.7 3.0 14.4 EL-1.9 -143.4 0.5 5.0 -0.1 -1.4e-1.2 120.6 179.5 21.5 -12.8 68.3 15.6 43.6 ES2.8 -85.5 1.4 0.2 0.4 4.60.6 139.2 98.6 17.2 4.3 73.9 7.7 38.6 FR-0.8 -20.1 0.5 -3.1 0.8 2.37.1 145.0 98.1 9.4 4.3 71.5 4.2 22.1 HR3.5 -64.2 0.5 2.4 -0.7p2.91.5 96.3 76.7 11.2 3.9 66.4 4.6 27.4 IT2.6 -7.0 0.6 -0.6 -0.1 -2.11.2 109.4 134.2 11.2 1.9 65.4 6.5 34.7 CY-5.1 -136.1 0.4 3.8 1.1 1.27.4 304.3 92.9 11.1 0.8 73.9 4.5 24.7 LV1.3 -51.4 -0.1 1.7 4.1 5.32.7 75.6 39.0 8.7 6.2 77.0 3.3 17.0 LT0.5 -36.5 0.3 9.6 4.3 5.24.5 56.2 39.1 7.1 12.9 75.9 2.7 13.3 LU4.7 80.6 1.0 -1.9 5.3 3.3-4.7 286.5 21.8 5.5 0.5 70.2 2.1 15.4 HU2.0 -54.4 1.7 0.6 4.6 8.60.6 69.9 72.1 4.2 -7.1 71.2 1.7 10.7 MT5.8 56.5 1.0 3.8 -0.5 4.36.4 123.6 47.7 4.0 7.7 72.2 2.0 10.6 NL10.8 61.1 0.5 1.1 0.5 6.14.0 249.6 56.9 4.9 0.5 79.7 1.9 8.9 AT1.4 4.3 1.0 -1.3 1.0 3.43.6 122.3 78.5 5.5 4.4 76.4 1.8 9.8 PL-0.3 -61.2 2.7 5.8 2.3 1.83.0 76.9 50.6 4.9 4.7 69.6 1.5 14.8 PT1.3 -110.4 0.6 2.9 2.1 7.62.9 163.0 126.1 9.0 1.3 74.7 4.5 23.9 RO-3.1 -47.4 -1.8 2.8 9.6 3.31.7 50.9 35.1 4.9 8.2 67.3 2.0 18.3 SI6.2 -24.2 -0.3 5.4 1.2 6.60.9 76.1 74.2 6.6 5.3 74.2 3.1 11.2 SK-1.9 -68.3 -0.1 -1.5 4.3 4.45.0 90.0 51.6 8.1 16.6 72.1 5.1 18.9 FI-0.8 1.2 -0.6 3.9 -3.2 0.58.3 147.7 61.2 8.6 -4.1 76.7 2.1 20.1 SE3.0 -1.2 -0.8 -2.4 1.9 4.813.1 198.6 40.7 6.7 6.9 82.5 1.2 17.9 Year2017External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags: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 = estimate by NCB for EL. 3) Labour Force Survey indicators, b = change in the survey methodology for BE; b = data collection improvement, introduction of CAWI (computer-assisted web interviewing) technique for DK.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 6.5: 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)BE0.6 54.5 2.9 7.0 0.6 1.123.7 194.8 105.0 7.8 2.4 67.6 4.0 20.1 BG3.1 -47.5 -0.4 8.3 3.2 5.33.0 103.9 29.1 7.6 9.5 68.7 4.5 17.2 CZ1.8 -27.2 2.5 4.4 3.0 6.86.2 80.4 36.6 4.0 16.8 75.0 1.7 10.5 DK7.8 52.6 1.0 1.6 -0.2 5.13.1 222.4 37.2 6.0b15.4 77.5b1.2b12.2bDE8.5 39.2 1.6 3.3 1.3 6.74.6 107.1 69.0 4.1 5.4 77.9 1.7 7.1 EE1.2 -39.5 1.5 6.5 3.3 3.76.3 111.9 10.0 6.8 8.4 77.5 2.1 13.4 IE-4.2 -172.7 0.9 4.0 4.1 7.2-15.8 283.2 74.3 8.4 1.5 72.7 4.2 16.8 EL-1.7 -139.1 1.1 -2.1 0.1 -1.5e-2.1 127.0 180.5 23.6 -10.2 68.2 17.0 47.3 ES3.2 -85.5 0.7 5.8 -0.9 4.5-0.4 147.8 99.2 19.6 1.8 74.2 9.5 44.4 FR-0.5 -13.0 1.3 2.2 0.7 0.86.2 143.2 98.0 10.1 4.9 71.4 4.6 24.5 HR2.2 -72.4 1.1 9.0 -2.8p2.0-0.2 102.8 79.8 13.1 3.5 65.6 6.6 31.3 IT2.6 -11.7 0.8 2.7 0.4 0.20.0 112.1 134.8 11.7 3.3 64.9 6.7 37.8 CY-4.2 -133.8 -0.2 8.2 -2.6 2.211.9 327.9 103.1 13.0 -0.3 73.4 5.8 29.1 LV1.6 -54.2 1.2 3.7 4.5 7.22.5 78.3 40.4 9.6 4.7 76.3 4.0 17.3 LT-1.1 -42.8 1.9 4.0 6.1 4.44.4 56.6 39.7 7.9 15.8 75.5 3.0 14.5 LU4.8 55.5 0.7 2.6 -1.2 5.2-8.5 302.0 19.6 6.3 5.0 70.0 2.2 18.9 HU4.5 -59.0 0.8 3.4 4.0 12.3-3.2 76.7 74.8 5.1 19.5 70.1 2.4 12.9 MT-0.6 47.7 1.4 3.5 6.5 4.410.3 132.7 54.6 4.7 3.8 70.6 2.4 10.7 NL8.1 62.3 1.2 0.4 0.9 4.43.7 259.5 61.9 6.0 7.4 79.7 2.5 10.8 AT2.7 4.1 1.7 4.2 1.7 7.03.3 123.3 82.8 6.0 -3.5 76.2 1.9 11.2 PL-0.8 -61.5 -3.5 6.6 2.4 2.35.3 81.9 54.2 6.2 9.2 68.8 2.2 17.7 PT1.2 -110.5 1.6 4.1 0.8 6.1-1.8 169.3 131.5 11.2 -0.4 73.7 6.2 28.0 RO-1.6 -49.2 -1.3 8.9 9.1 5.20.6 53.8 37.3 5.9 7.0 65.6 3.0 20.6 SI4.8 -28.8 0.5 6.7 1.8 3.6-0.8 81.0 78.5 8.0 3.4 71.6 4.3 15.2 SK-2.7 -66.8 0.5 6.0 2.7 7.09.2 88.2 52.4 9.7 8.6 71.9 5.8 22.2 FI-2.0 5.5 1.2 2.8 -1.4 0.61.3 148.1 63.2 8.8 3.8 75.9 2.3 20.1 SE2.4 -3.5 0.8 0.9 2.4 7.38.4 192.4 42.3 7.0 9.1 82.1 1.3 18.9 Year2016External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags: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 = estimate by NCB for EL. 3) Private sector debt: the decline for IE relative to 2015 predominantly reflects restructuring and re-domiciling activities of large multinational companies. 4) Labour Force Survey indicators, b = data collection improvement, introduction of CAWI (computer-assisted web interviewing) technique for DK.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 6.6: 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)BE1.4 45.2 -3.4 -7.1 -1.0 0.811.5 175.3 105.2 8.5 2.6 67.6 4.4 22.1 BG0.0 -61.5 -3.6 -1.2 2.5 0.4b-3.8 108.7 25.9 9.2 9.6 69.3 5.6 21.6 CZ0.4 -32.9 -0.9 -0.7 -0.8 4.0-0.4 78.2 39.7 5.1 7.9 74.0 2.4 12.6 DK8.2 30.8 -3.4 -2.0 0.8 6.62.9 211.4 39.8 6.3 -0.9 76.9 1.6 12.2 DE8.6 34.6 -4.4 -0.0 2.2 4.12.9 106.3 72.0 4.6 3.1 77.6 2.0 7.2 EE1.8 -40.2 0.1 -8.4 4.6 7.32.7 113.6 10.1 6.2 8.6 76.7 2.4 13.1 IE4.4 -198.4 -7.2 40.7 -15.6 10.7-2.3 304.0 76.7 10.0 9.6 72.1 5.3 20.2 EL-0.8 -136.1 -4.5 -7.2 -3.3 -3.8e-3.1 129.1 176.7 24.9 6.3 67.8 18.2 49.8 ES2.0 -88.9 -4.5 -1.4 0.0 3.7-2.1 155.8 99.3 22.1 -1.8 74.3 11.4 48.3 FR-0.4 -12.9 -4.7 1.0 0.2 -1.64.6 142.8 95.6 10.4 2.2 71.3 4.6 24.7 HR3.3 -79.0 -1.5 3.7 -0.5p-2.6-1.5 110.5 83.3 16.2 2.0 66.9 10.2 42.3 IT1.4 -18.8 -4.5 -2.3 0.9 -4.0-1.3 116.0 135.3 11.9 1.4 64.0 6.9 40.3 CY-0.4 -154.0 -6.5 2.5 -3.1 1.0b4.3 346.4 107.2 15.0 9.7 73.9 6.8 32.8 LV-0.6 -60.1 0.6 -3.6 5.0 -2.8-0.8 78.3 37.1 9.9 13.3 75.7 4.5 16.3 LT-2.4 -43.8 0.3 -8.6 5.1 4.72.6 55.2 42.5 9.1 7.1 74.1 3.9 16.3 LU4.8 63.3 -2.7 4.8 1.9 4.521.3 322.7 21.1 6.7b16.8 70.9b1.9b17.3bHU2.3 -67.5 -2.4 0.3 0.5 12.5-2.5 83.7 75.7 6.8 0.4 68.6 3.1 17.3 MT2.7 36.1 -4.8 11.0 0.5 4.16.8 130.4 56.3 5.4 3.6 68.8 2.7 11.6 NL6.3 49.6 -3.4 -2.0 -1.3 3.40.1 263.2 64.6 6.9 4.0 79.6 3.0 11.3 AT1.7 2.2 -2.4 -3.5 1.5 3.42.1 124.0 84.9 5.7 -0.1 75.5 1.7 10.6 PL-0.9 -62.1 -2.6 3.0 -0.5 2.63.5 79.1 51.3 7.5 2.9 68.1 3.0 20.8 PT0.2 -118.9 -2.9 -1.3 -0.1 2.2-1.4 179.3 131.2 12.6 -1.4 73.4 7.2 32.0 RO-0.8 -54.7 -2.6 -0.2 -2.4 1.60.2 58.1 37.8 6.8 4.1 66.1 3.0 21.7 SI3.8 -31.2 -2.1 -1.6 0.6 1.4-5.0 87.4 82.6 9.0 -3.8 71.8 4.7 16.3 SK-2.1 -63.8 -2.4 -2.6 0.6 5.55.0 80.4 51.8 11.5 10.4 70.9 7.6 26.5 FI-0.9 4.8 -3.2 -6.7 0.8 -0.5b6.9 152.1 63.6 9.4 1.4 75.8 2.3 22.4 SE3.3 -6.6 -5.5 -2.0 -0.3 12.07.5 190.9 43.7 7.4 1.8 81.7 1.5 20.4 Year2015External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:b:Break in series. e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) International investment position of LU has been revised downwards following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics. 3) House price index e = estimate by NCB for EL; b = break in time series due to full implementation of harmonised EU methodology for BG and CY; b = break in time series due to new calculation method for New dwellings (apartments) for FI. 4) Private sector debt: significant increases for IE due to re-domiciling of large multinational corporations and movement of large parts of their balance sheets. 5) Labour Force Survey indicators, b = change in sampling strategy and data collection technique for LU.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 6.7: 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)BE0.8 44.8 0.2 0.5 -0.2 -1.3-2.1 162.5 107.0 8.5 2.6 67.7 4.3 23.2 BG1.2 -71.9 -0.8 0.8 5.0 0.12.3 125.1 27.0 11.4 7.9 69.0 6.9 23.8 CZ0.2 -36.3 -5.2 4.8 1.1 1.62.3 83.0 41.9 6.1 5.2 73.5 2.7 15.9 DK8.9 43.3 0.8 0.6 0.7 3.1-0.3 214.0 44.3 6.9 7.3 76.6 1.7 14.2 DE7.2 29.0 0.8 2.6 1.5 2.20.3 107.0 75.3 5.0 5.3 77.7 2.2 7.7 EE0.7 -47.0 2.8 0.9 4.2 12.95.7 116.2 10.6 7.4 13.0 75.2 3.3 15.0 IE1.1 -164.6 -0.8 13.1 -4.7 15.72.6 276.6 104.3 11.9 19.5 71.8 6.6 23.4 EL-0.7 -133.0 -0.6 3.7 -1.5 -5.2e-3.1 132.4 180.3 26.5 -8.3 67.4 19.5 52.4 ES1.7 -95.9 -0.5 1.0 -0.2 0.2-7.0 167.7 100.7 24.5 0.3 74.2 12.9 53.2 FR-1.0 -15.6 0.3 0.2 0.7 -1.63.2 141.5 94.9 10.3 5.6 71.0 4.5 24.2 HR0.3 -86.8 0.5 4.5 -2.2p-1.3-0.2 115.8 83.9 17.3 0.6 66.1 10.1 45.5 IT1.9 -20.9 0.3 0.8 0.2 -4.9-0.3 119.8 135.4 12.7 0.9 63.9 7.7 42.7 CY-4.1 -163.6 -0.8 2.4 -3.8 -1.1-0.8 352.1 109.1 16.1 11.6 74.3 7.7 36.0 LV-1.6 -64.1 2.9 3.6 4.8 4.7-4.6 82.2 41.6 10.8 10.9 74.6 4.6 19.6 LT3.5 -46.8 3.0 -5.7 3.1 6.40.2 54.1 40.5 10.7 16.7 73.7 4.8 19.3 LU4.9 67.3 0.5 7.6 1.9 3.728.1 313.2 21.9 5.9 38.4 70.8 1.6 22.6 HU1.2 -80.1 -3.6 4.2 1.1 2.8-0.3 91.3 76.5 7.7 8.7 67.0 3.7 20.4 MT5.6 41.8 0.6 3.0 -0.6 2.06.3 139.6 62.1 5.7 6.0 67.8 2.9 11.7 NL8.5 48.0 -0.1 0.5 0.1 -0.14.3 267.6 67.9 7.4 8.0 79.0 2.9 12.7 AT2.5 3.4 1.7 1.4 2.2 1.40.9 124.8 84.0 5.6 -0.8 75.4 1.5 10.3 PL-2.6 -69.4 1.0 5.1 0.6 1.14.8 78.7 51.1 9.0 1.7 67.9 3.8 23.9 PT0.2 -123.8 -0.5 0.9 -1.2 4.0-6.8 190.1 132.9 14.1 -7.3 73.2 8.4 34.8 RO-0.3 -57.0 1.4 6.7 3.3 -3.3-2.3 62.0 39.2 6.8 1.2 65.7 2.8 24.0 SI5.1 -38.4 1.1 3.9 -1.1 -6.2-4.7 97.9 80.3 9.7 -0.1 70.9 5.3 20.2 SK1.1 -63.6 0.2 -1.6 0.7 1.55.0 79.1 53.7 13.2 9.4 70.3 9.3 29.7 FI-1.3 -3.1 2.5 -4.5 0.9 -1.61.7 148.8 59.8 8.7 9.4 75.4 1.9 20.5 SE4.2 -3.7 -4.6 -1.2 1.0 8.34.5 193.1 45.0 8.0 12.6 81.5 1.4 22.9 Year2014External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) International investment position of LU has been revised downwards following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics. 3) House price index e = estimate by NCB for EL.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 6.8: 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)BE1.0 43.2 1.5 1.4 1.7 0.17.9 163.0 105.5 8.4 1.2 67.5 3.9 23.7 BG1.3 -73.3 0.1 6.4 8.9 -0.82.6 130.1 17.0 13.0 1.1 68.4 7.4 28.4 CZ-0.5 -40.9 -2.2 -1.6 0.3 -0.74.3 84.8 44.4 7.0 10.1 72.9 3.0 19.0 DK7.8 37.2 1.0 2.0 0.7 3.1-3.0 216.1 44.0 7.4 1.8 76.6 1.8 14.8 DE6.6 24.7 2.2 0.9 2.3 1.72.7 114.8 78.3 5.2 -6.6 77.6 2.3 7.8 EE0.3 -50.0 2.9 3.6 5.5 7.34.8 115.9 10.2 8.6 10.3 75.1 3.8 18.7 IE1.6 -133.6 1.6 1.8 0.3 0.0-1.4 266.1 120.0 13.8 2.1 71.8 8.0 26.7 EL-1.4 -131.0 -0.6 0.5 -6.5 -9.3e-4.0 133.4 178.2 27.5 -17.6 67.5 18.5 58.3 ES2.0 -92.8 1.9 3.7 -0.9 -10.0-10.0 178.2 95.8 26.1 -10.4 74.3 13.0 55.5 FR-0.5 -16.6 1.6 2.3 1.4 -2.52.1 137.4 93.4 10.3e0.5 70.9e4.5e24.9eHR-1.1 -88.6 1.2 1.7 -3.5p-5.7-0.6 115.6 80.3 17.3 2.7 63.7 11.0 50.0 IT1.1 -23.4 1.9 0.1 0.8 -7.5-2.8 122.0 132.5 12.2 -2.3 63.4 6.9 40.0 CY-1.5 -162.5 1.1 2.7 -4.3 -3.9-12.2 341.1 104.0 15.9 -3.1 73.6 6.1 38.9 LV-2.8 -67.9 -1.0 1.9 6.1 6.4-0.6 90.7 40.4 11.9 5.7 74.0 5.7 23.2 LT1.7 -50.8 0.9 5.5 3.2 0.4-0.2 56.6 38.7 11.8 -1.3 72.4 5.1 21.9 LU5.1 61.5 1.6 8.9 1.7 3.426.4 296.8 22.4 5.9 10.3 69.9 1.8 15.5 HU3.4 -82.0 -1.4 1.5 -0.3 -4.2-0.8 95.6 77.2 10.2 -1.2 64.7 4.9 26.6 MT0.1 25.9 1.5 1.1 0.9 -1.63.0 146.9 66.4 6.1 0.0 66.3 3.5 12.7 NL9.8 30.7 2.7 1.3 0.8 -7.99.8 258.2 67.7 7.3 -1.6 79.4 2.5 13.2 AT1.9 1.3 2.1 1.6 2.5 3.01.0 127.1 81.3 5.4 -3.2 75.5 1.3 9.7 PL-1.8 -69.4 0.2 5.1 0.4 -4.83.2 75.9 56.5 10.3 6.3 67.0 4.4 27.3 PT1.6 -120.2 0.3 6.7 1.5 -2.6-2.3 201.6 131.4 16.4 -5.2 73.0 9.3 38.1 RO-0.9 -63.3 4.0 15.7 -0.1 -2.8-1.4 66.8 37.6 7.1 0.8 64.9 3.2 23.7 SI3.3 -39.3 1.4 2.4 0.4 -7.2-3.7 107.2 70.0 10.1 -10.1 70.5 5.2 21.6 SK1.9 -62.3 1.0 4.8 1.1 -0.45.0 75.3 54.9 14.2 1.4 69.9 10.0 33.7 FI-1.8 3.0 2.9 -0.4 1.6 -1.32.8 147.0 56.2 8.2 -11.5 75.2 1.7 19.9 SE5.2 -17.2 1.7 -1.2 1.8 4.54.6 193.8 40.3 8.1 9.8 81.1 1.4 23.5 Year2013External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) International investment position of LU has been revised downwards following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics. 3) House price index e = estimate by NCB for EL.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 6.9: 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 40.8 -2.3 -6.4 2.8 0.214.6 191.0 104.8 7.6 -5.1 66.9 3.4 19.8 BG-0.8 -77.3 -2.1 -4.9 4.3 -4.62.6 127.6 16.6 12.3 11.7 67.1 6.8 28.1 CZ-1.5 -45.6 -2.8 -4.2 3.2 -3.53.1 81.8 44.2 7.0 5.0 71.6 3.0 19.5 DK6.3 36.1 -2.9 -5.1 0.9 -4.97.9 224.0 44.9 7.8 2.5 77.2 2.1 15.8 DE7.1 28.7 -3.3 -4.7 3.4 2.11.6 114.6 80.7 5.4 3.3 77.2 2.4 8.0 EE-1.9 -51.1 -0.9 -2.7 4.3 3.17.7 118.1 9.8 10.0 10.9 74.8 5.5 20.9 IE-3.4 -137.4 -4.4 -6.1 1.0 -14.4-0.5 276.5 119.7 15.5 -1.1 71.1 9.2 30.8 EL-3.5 -117.6 -4.5 -4.9 -0.6 -12.5e-4.8 135.1 162.0 24.5 -2.1 67.5 14.5 55.3 ES0.1 -88.9 -2.4 -6.1 -2.5 -16.5-11.2 188.5 86.3 24.8 0.6 74.3 11.0 52.9 FR-1.0 -12.8 -3.2 -4.6 2.2 -1.94.2 138.3 90.6 9.8e1.4 70.4e4.2e24.4eHR-1.9 -90.5 -2.5 -9.0 -1.3p-4.6-2.8 117.0 69.4 16.0 0.9 63.9 10.2 42.1 IT-0.2 -23.0 -1.9 -5.4 1.5 -5.0-0.9 124.7 126.5 10.7 7.1 63.5 5.6 35.3 CY-3.9 -141.1 -2.1 -7.6 1.6 -5.50.7 326.0 80.3 11.9 11.8 73.5 3.6 27.7 LV-3.7 -68.4 -1.5 3.4 1.8 -0.3-2.4 96.3 42.4 15.0 5.4 74.4 7.8 28.5 LT-1.6 -54.4 -2.0 4.2 2.2 -3.20.4 61.0 39.7 13.4 -0.6 71.8 6.6 26.7 LU5.3 63.2 -1.6 -0.2 2.1 2.024.5 287.9 20.9 5.1 14.9 69.4 1.6 18.8 HU1.6 -91.6 -1.9 -10.9 5.3 -8.9-5.9 101.7 78.1 11.0 -5.8 63.7 5.0 28.2 MT-0.4 19.1 -2.0 -1.6 2.0 0.40.7 158.0 66.6 6.2 8.3 63.9 3.8 13.8 NL10.2 26.7 -1.8 -3.3 2.8 -7.96.1 252.5 66.2 5.8 6.0 79.0 1.9 11.7 AT1.5 -3.2 -1.8 -6.4 3.1 4.81.2 128.2 81.9 4.9 0.4 75.1 1.2 9.4 PL-4.0 -65.6 -2.2 -3.0 2.3 -6.64.8 73.8 54.4 10.1 9.0 66.5 4.1 26.5 PT-1.6 -119.3 -1.6 -5.1 -3.1 -8.7-4.3 210.6 129.0 15.8 -3.5 73.4 7.7 37.9 RO-5.0 -67.8 -6.1 -7.3 2.6 -8.90.3 72.3 37.1 6.8 4.8 64.8 3.0 22.6 SI1.3 -44.0 -1.2 -7.6 0.7 -8.5-2.8 112.2 53.6 8.9 -0.7 70.4 4.3 20.6 SK0.9 -60.7 0.0 0.6 1.1 -5.91.9 71.1 51.9 14.0 1.1 69.4 9.4 34.0 FI-2.1 10.6 -2.6 -7.8 5.1 -0.47.1 147.7 53.6 7.7 -1.3 75.2 1.6 19.0 SE5.5 -15.5 -0.7 -6.3 4.5 0.72.3 191.0 37.5 8.0 5.6 80.3 1.5 23.6 1) For the employment indicators, see page 2 of the AMR 2016. 2) International investment position of LU has been revised downwards following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics. 3) House price index e = estimate by NCB for EL. 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 indicators¹Flags:e:Estimated. p:Provisional.  
 
 
 
 
 
 
 
 
 
Table 6.10: 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-1.9 51.4 0.6 -2.6 2.8 1.122.2 180.6 103.5 7.2 5.4 66.7 3.5 18.7 BG0.3 -82.4 1.0 12.0 2.3 -8.93.5 128.4 15.2 11.3b4.3 65.9b6.3b25.0bCZ-2.1 -44.9 2.0 -0.3 0.8 -1.62.5 79.2 39.7 6.7b4.8 70.5b2.7b18.1bDK6.6 27.8 -0.6 -4.3 0.0 -4.04.4 221.0 46.1 7.8 1.6 77.8 1.8 16.4 DE6.2 23.3 -0.6 -2.0 0.3 1.62.1 115.0 79.4 5.8b3.1 77.3b2.8b8.5bEE1.3 -54.4 1.1 15.0 1.4 3.1-0.8 120.0 6.2 12.3 -0.2 74.7 7.1 22.4 IE-1.6 -138.6 -1.0 -9.6 -3.0b-17.816.3 273.1 110.5 15.4 -2.2 71.2 8.8 29.6 EL-8.8 -90.4 0.6 -6.6 2.9 -8.2e-6.6 133.0 175.2 17.9 -3.9 67.3 8.8 44.7 ES-2.7 -93.8 0.3 -0.6 -1.7 -9.8-4.2 198.2 69.9 21.4 3.4 73.9 8.9 46.2 FR-0.9 -8.7 -0.6 -2.7 0.9 3.86.4 135.3 87.8 9.2e6.9 69.9e3.9e22.7eHR-1.8 -91.9 -2.7 -6.1 -0.3p-2.0-2.4 119.5 63.7 13.7 1.9 64.1 8.4 36.7 IT-2.8 -18.2 0.1 -3.3 0.5 -1.53.1 122.2 119.7 8.4 4.9 62.1 4.3 29.2 CY-2.3 -141.9 0.2 -4.5 2.2 -4.417.7 319.8 65.9 7.9 9.6 73.5 1.6 22.4 LV-3.4 -78.0 0.8 7.5 1.4 4.0-2.3 114.5 45.1 16.2 -4.3 72.8 8.8 31.0 LT-3.7 -53.6 0.6 12.2 0.6 2.2-2.2 64.6 37.1 15.4 1.9 71.4 8.0 32.6 LU5.6 28.5 0.8 -3.8 5.8 0.720.8 276.8 18.5 4.9 14.3 67.9 1.4 16.8 HU0.6 -103.6 -0.5 -4.2 2.2 -6.6-4.3 114.1 80.3 11.0 6.2 62.4 5.2 26.0 MT-2.0 6.2 -0.7 -4.3 6.2 -3.96.4 166.3 70.0 6.4 10.2 61.8 3.9 13.3 NL8.6 20.1 -0.3 -3.6 1.2 -4.08.0 247.6 61.7 5.0 10.3 78.1 1.6 10.0 AT1.6 -1.9 0.5 -2.6 0.7 3.03.0 129.4 82.4 4.6 1.5 74.6 1.2 8.9 PL-5.4 -62.5 -2.3 -1.7 1.0 -4.76.6 74.0 54.7 9.7 6.4 65.7 3.6 25.8 PT-6.0 -104.1 0.7 -0.2 -2.1 -6.5-0.8 204.6 114.4 12.9b-4.9 73.6b6.2b30.3bRO-5.1 -66.1 2.9 6.0 -7.1 -15.52.8 73.7 34.0 7.2 4.5 64.1 2.9 23.9 SI-0.8 -39.8 -0.7 -1.8 -1.0 0.90.5 112.9 46.5 8.2 -1.2 70.3 3.6 15.7 SK-4.9 -63.7 1.1 2.8 1.1 -5.24.6 68.6 43.3 13.6b0.6 68.7b9.2b33.4bFI-1.4 13.9 0.0 -6.1 2.5 -0.15.3 144.6 48.3 7.8 28.7 74.9 1.7 20.1 SE5.5 -8.3 4.1 -0.2 2.2 1.26.9 188.0 37.2 7.8 1.9 79.9 1.5 22.8 1) For the employment indicators, see page 2 of the AMR 2016. 2) International investment position of LU has been revised downwards following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics. 3) House price index e = estimate by NCB for EL.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)Flags:b:Break in series. e:Estimated. p:Provisional. Year2011External imbalances and competitivenessInternal imbalancesEmployment indicators¹