COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX Accompanying the document Communication to the European Parliament, the Council and the European Economic and Social Committee Alert Mechanism Report 2024
Date: 2023-11-21
Institutions: Directorate-General for Economic and Financial Affairs, European Commission
Subjects: economic disparity, economic growth, economic recovery, economic statistics, euro area, inflation, macroeconomics, multilateral surveillance, national accounts, public debt

EN 

  EN 

   EUROPEAN COMMISSION  Strasbourg, 21.11.2023  SWD(2023) 902 final  COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX Accompanying the document Communication to the European Parliament, the Council and the European Economic and Social Committee Alert Mechanism Report 2024 {COM(2023) 902 final} - {SWD(2023) 901 final} - {SWD(2023) 902 final}  
 
 
European 
Commission 

                     Statistical Annex of 
                       Alert Mechanism Report 2024 

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

 
 
 
 
 
 
 
 
 
 
 
 
 
                    
 
 
 
 
 
 
 
Table of Contents 

BACKGROUND INFORMATION ......................................................................................................................... 9 

STATISTICAL METHODOLOGY IMPROVEMENTS ........................................................................................... 11 

THE MIP QUALITY FRAMEWORK .................................................................................................................. 13 

Chapter 1: Tables by year - Headline indicators ........................................................................................ 16 

Table 1.1: MIP Scoreboard 2022 ................................................................................................................. 16 

Table 1.2: MIP Scoreboard 2021 ................................................................................................................. 17 

Table 1.3: MIP Scoreboard 2020 ................................................................................................................. 18 

Table 1.4: MIP Scoreboard 2019 ................................................................................................................. 19 

Table 1.5: MIP Scoreboard 2018 ................................................................................................................. 20 

Table 1.6: MIP Scoreboard 2017 ................................................................................................................. 21 

Table 1.7: MIP Scoreboard 2016 ................................................................................................................. 22 

Table 1.8: MIP Scoreboard 2015 ................................................................................................................. 23 

Table 1.9: MIP Scoreboard 2014 ................................................................................................................. 24 

Table 1.10: MIP Scoreboard 2013 ............................................................................................................... 25 

Chapter 2: Tables by year - Auxiliary indicators used in the economic reading of the MIP scoreboard
 ......................................................................................................................................................................... 26 

Table 2.1: Auxiliary indicators, 2022 .......................................................................................................... 26 

Table 2.1 (continued): Auxiliary indicators, 2022....................................................................................... 27 

Table 2.2: Auxiliary indicators, 2021 .......................................................................................................... 28 

Table 2.2 (continued): Auxiliary indicators, 2021....................................................................................... 29 

Table 2.3: Auxiliary indicators, 2020 .......................................................................................................... 30 

Table 2.3 (continued): Auxiliary indicators, 2020....................................................................................... 31 

Table 2.4: Auxiliary indicators, 2019 .......................................................................................................... 32 

Table 2.4 (continued): Auxiliary indicators, 2019....................................................................................... 33 

Table 2.5: Auxiliary indicators, 2018 .......................................................................................................... 34 

Table 2.5 (continued): Auxiliary indicators, 2018....................................................................................... 35 

Table 2.6: Auxiliary indicators, 2017 .......................................................................................................... 36 

Table 2.6 (continued): Auxiliary indicators, 2017....................................................................................... 37 

Table 2.7: Auxiliary indicators, 2016 .......................................................................................................... 38 

Table 2.7 (continued): Auxiliary indicators, 2016....................................................................................... 39 

Table 2.8: Auxiliary indicators, 2015 .......................................................................................................... 40 

Table 2.8 (continued): Auxiliary indicators, 2015....................................................................................... 41 

Table 2.9: Auxiliary indicators, 2014 .......................................................................................................... 42 

2 

 
 
 
Table 2.9 (continued): Auxiliary indicators, 2014....................................................................................... 43 

Table 2.10: Auxiliary indicators, 2013 ........................................................................................................ 44 

Table 2.10 (continued): Auxiliary indicators, 2013..................................................................................... 45 

Chapter 3: Tables by indicator..................................................................................................................... 46 

Table 3.1: Current account balance, % of GDP (3 year average) ................................................................ 46 

Table 3.2: Current account balance (% of GDP) ......................................................................................... 47 

Table 3.3: Net International Investment Position (% of GDP) .................................................................... 48 

Table 3.4: Real effective exchange rate - 42 trading partners, HICP deflator (3 year % change) ............... 49 

Table 3.5: Real effective exchange rate - 42 trading partners, HICP deflator (1 year % change) ............... 50 

Table 3.6: Export market share - % of world exports (5 year % change) ................................................... 51 

Table 3.7: Export market share - % of world exports (1 year % change) ................................................... 52 

Table 3.8: Nominal unit labour cost index (3 year % change) .................................................................... 53 

Table 3.9: Nominal unit labour cost index (1 year % change) .................................................................... 54 

Table 3.10: House price index, deflated (1 year % change) ........................................................................ 55 

Table 3.11: Private sector credit flow, consolidated (% of GDP) ............................................................... 56 

Table 3.12: Private sector debt, consolidated (% of GDP) .......................................................................... 57 

Table 3.13: General government gross debt (% of GDP) ............................................................................ 58 

Table 3.14: Unemployment rate (3 year average) ....................................................................................... 59 

Table 3.15: Unemployment rate (%) ........................................................................................................... 60 

Table 3.16: Total financial sector liabilities, non-consolidated (1 year % change) ..................................... 61 

Table 3.17: Total financial sector liabilities, non-consolidated (Millions NC) ........................................... 62 

Table 3.18: Activity rate - % of total population aged 15-64 (3 year change in pp) ................................... 63 

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

Table 3.20: Long-term unemployment rate - % of active population aged 15-74 (3 year change in pp) .... 65 

Table 3.21: Long-term unemployment rate - % of active population aged 15-74 ....................................... 66 

Table 3.22: Youth unemployment rate - % of active population aged 15-24 (3 year change in pp) ........... 67 

Table 3.23: Youth unemployment rate - % of active population aged 15-24 .............................................. 68 

Table 3.24: Real GDP (1 year % change) ................................................................................................... 69 

Table 3.25: Gross fixed capital formation (% of GDP) ............................................................................... 70 

Table 3.26: Gross domestic expenditure on R&D (% of GDP) .................................................................. 71 

Table 3.27: Current plus capital account - Net lending-borrowing (% of GDP) ......................................... 72 

Table 3.28: Net international investment position excluding non-defaultable instruments (% of GDP) .... 73 

Table 3.29: Direct investment  liabilities - flows (% of GDP) .................................................................... 74 

Table 3.30: Direct investment liabilities - stocks (% of GDP) .................................................................... 75 

Table 3.31: Net trade balance of energy products (% of GDP) ................................................................... 76 

Table 3.32: Real effective exchange rate - euro area trading partners (3 year % change) .......................... 77 
3 

 
 
Table 3.33: Export performance against advanced economies (5 year % change) ..................................... 78 

Table 3.34: Terms of trade (5 year % change) ............................................................................................ 79 

Table 3.35: Export market share, volume (1 year % change) ..................................................................... 80 

Table 3.36: Real labour productivity (1 year % change) ............................................................................. 81 

Table 3.37: Gross non-performing loans, domestic and foreign entities (% of gross loans) ....................... 82 

Table 3.38: Unit labour cost performance relative to EA (10 year % change) ............................................ 83 

Table 3.39: House price index, nominal (3 year % change) ........................................................................ 84 

Table 3.40: Residential construction (% of GDP) ....................................................................................... 85 

Table 3.41: Household debt, consolidated (incl. Non-profit institutions serving households, % of GDP) . 86 

Table 3.42: Consolidated banking leverage, domestic and foreign entities (asset-to-equity multiple) ....... 87 

Table 3.43: Employment (1 year % change) ............................................................................................... 88 

Table 3.44: Young people neither in employment nor in education and training - % of total population 
aged 15-24 ................................................................................................................................................... 89 

Table 3.45: People at risk of poverty or social exclusion - % of total population ....................................... 90 

Table 3.46: People at risk of poverty after social transfers - % of total population .................................... 91 

Table 3.47: Severely materially and socially deprived people - % of total population ............................... 92 

Table 3.48: People living in households with very low work intensity - % of total population aged 0-64 . 93 

Chapter 4: Tables by Member State and Aggregates - Headline indicators ............................................ 94 

Table 4.1: The MIP scoreboard for European Union .................................................................................. 94 

Table 4.2: The MIP scoreboard for euro area .............................................................................................. 95 

Table 4.3: The MIP scoreboard for Belgium ............................................................................................... 96 

Table 4.4: The MIP scoreboard for Bulgaria ............................................................................................... 97 

Table 4.5: The MIP scoreboard for Czech Republic ................................................................................... 98 

Table 4.6: The MIP scoreboard for Denmark .............................................................................................. 99 

Table 4.7: The MIP scoreboard for Germany ............................................................................................ 100 

Table 4.8: The MIP scoreboard for Estonia .............................................................................................. 101 

Table 4.9: The MIP scoreboard for Ireland ............................................................................................... 102 

Table 4.10: The MIP scoreboard for Greece ............................................................................................. 103 

Table 4.11: The MIP scoreboard for Spain ............................................................................................... 104 

Table 4.12: The MIP scoreboard for France .............................................................................................. 105 

Table 4.13: The MIP scoreboard for Croatia ............................................................................................. 106 

Table 4.14: The MIP scoreboard for Italy ................................................................................................. 107 

Table 4.15: The MIP scoreboard for Cyprus ............................................................................................. 108 

Table 4.16: The MIP scoreboard for Latvia .............................................................................................. 109 

Table 4.17: The MIP scoreboard for Lithuania ......................................................................................... 110 

Table 4.18: The MIP scoreboard for Luxembourg .................................................................................... 111 

4 

 
 
Table 4.19: The MIP scoreboard for Hungary........................................................................................... 112 

Table 4.20: The MIP scoreboard for Malta ............................................................................................... 113 

Table 4.21: The MIP scoreboard for Netherlands ..................................................................................... 114 

Table 4.22: The MIP scoreboard for Austria ............................................................................................. 115 

Table 4.23: The MIP scoreboard for Poland ............................................................................................. 116 

Table 4.24: The MIP scoreboard for Portugal ........................................................................................... 117 

Table 4.25: The MIP scoreboard for Romania .......................................................................................... 118 

Table 4.26: The MIP scoreboard for Slovenia........................................................................................... 119 

Table 4.27: The MIP scoreboard for Slovakia........................................................................................... 120 

Table 4.28: The MIP scoreboard for Finland ............................................................................................ 121 

Table 4.29: The MIP scoreboard for Sweden ............................................................................................ 122 

Chapter 5: Tables by Member State and Aggregates - Auxiliary indicators used in the economic 
reading of the MIP scoreboard ................................................................................................................... 123 

Table 5.1: Auxiliary indicators for European Union ................................................................................. 123 

Table 5.1 (continued): Auxiliary indicators for European Union .............................................................. 124 

Table 5.2: Auxiliary indicators for euro area............................................................................................. 125 

Table 5.2 (continued): Auxiliary indicators for euro area ......................................................................... 126 

Table 5.3: Auxiliary indicators for Belgium ............................................................................................. 127 

Table 5.3 (continued): Auxiliary indicators for Belgium .......................................................................... 128 

Table 5.4: Auxiliary indicators for Bulgaria.............................................................................................. 129 

Table 5.4 (continued): Auxiliary indicators for Bulgaria .......................................................................... 130 

Table 5.5: Auxiliary indicators for Czech Republic .................................................................................. 131 

Table 5.5 (continued): Auxiliary indicators for Czech Republic............................................................... 132 

Table 5.6: Auxiliary indicators for Denmark ............................................................................................ 133 

Table 5.6 (continued): Auxiliary indicators for Denmark ......................................................................... 134 

Table 5.7: Auxiliary indicators for Germany ............................................................................................ 135 

Table 5.7 (continued): Auxiliary indicators for Germany ......................................................................... 136 

Table 5.8: Auxiliary indicators for Estonia ............................................................................................... 137 

Table 5.8 (continued): Auxiliary indicators for Estonia ............................................................................ 138 

Table 5.9: Auxiliary indicators for Ireland ................................................................................................ 139 

Table 5.9 (continued): Auxiliary indicators for Ireland ............................................................................. 140 

Table 5.10: Auxiliary indicators for Greece .............................................................................................. 141 

Table 5.10 (continued): Auxiliary indicators for Greece ........................................................................... 142 

Table 5.11: Auxiliary indicators for Spain ................................................................................................ 143 

Table 5.11 (continued): Auxiliary indicators for Spain ............................................................................. 144 

Table 5.12: Auxiliary indicators for France .............................................................................................. 145 

5 

 
 
Table 5.12 (continued): Auxiliary indicators for France ........................................................................... 146 

Table 5.13: Auxiliary indicators for Croatia ............................................................................................. 147 

Table 5.13 (continued): Auxiliary indicators for Croatia .......................................................................... 148 

Table 5.14: Auxiliary indicators for Italy .................................................................................................. 149 

Table 5.14 (continued): Auxiliary indicators for Italy ............................................................................... 150 

Table 5.15: Auxiliary indicators for Cyprus .............................................................................................. 151 

Table 5.15 (continued): Auxiliary indicators for Cyprus .......................................................................... 152 

Table 5.16: Auxiliary indicators for Latvia ............................................................................................... 153 

Table 5.16 (continued): Auxiliary indicators for Latvia ............................................................................ 154 

Table 5.17: Auxiliary indicators for Lithuania .......................................................................................... 155 

Table 5.17 (continued): Auxiliary indicators for Lithuania ....................................................................... 156 

Table 5.18: Auxiliary indicators for Luxembourg ..................................................................................... 157 

Table 5.18 (continued): Auxiliary indicators for Luxembourg ................................................................. 158 

Table 5.19: Auxiliary indicators for Hungary ........................................................................................... 159 

Table 5.19 (continued): Auxiliary indicators for Hungary ........................................................................ 160 

Table 5.20: Auxiliary indicators for Malta ................................................................................................ 161 

Table 5.20 (continued): Auxiliary indicators for Malta ............................................................................. 162 

Table 5.21: Auxiliary indicators for Netherlands ...................................................................................... 163 

Table 5.21 (continued): Auxiliary indicators for Netherlands ................................................................... 164 

Table 5.22: Auxiliary indicators for Austria ............................................................................................. 165 

Table 5.22 (continued): Auxiliary indicators for Austria .......................................................................... 166 

Table 5.23: Auxiliary indicators for Poland .............................................................................................. 167 

Table 5.23 (continued): Auxiliary indicators for Poland ........................................................................... 168 

Table 5.24: Auxiliary indicators for Portugal ............................................................................................ 169 

Table 5.24 (continued): Auxiliary indicators for Portugal ........................................................................ 170 

Table 5.25: Auxiliary indicators for Romania ........................................................................................... 171 

Table 5.25 (continued): Auxiliary indicators for Romania ....................................................................... 172 

Table 5.26: Auxiliary indicators for Slovenia ........................................................................................... 173 

Table 5.26 (continued): Auxiliary indicators for Slovenia ........................................................................ 174 

Table 5.27: Auxiliary indicators for Slovakia ........................................................................................... 175 

Table 5.27 (continued): Auxiliary indicators for Slovakia ........................................................................ 176 

Table 5.28: Auxiliary indicators for Finland ............................................................................................. 177 

Table 5.28 (continued): Auxiliary indicators for Finland .......................................................................... 178 

Table 5.29: Auxiliary indicators for Sweden ............................................................................................. 179 

Table 5.29 (continued): Auxiliary indicators for Sweden ......................................................................... 180 

Chapter 6: Tables by year - MIP Scoreboard (base indicators) ............................................................. 181 
6 

 
 
Table 6.1: MIP Scoreboard (base indicators) 2022 ................................................................................... 181 

Table 6.2: MIP Scoreboard (base indicators) 2021 ................................................................................... 182 

Table 6.3: MIP Scoreboard (base indicators) 2020 ................................................................................... 183 

Table 6.4: MIP Scoreboard (base indicators) 2019 ................................................................................... 184 

Table 6.5: MIP Scoreboard (base indicators) 2018 ................................................................................... 185 

Table 6.6: MIP Scoreboard (base indicators) 2017 ................................................................................... 186 

Table 6.7: MIP Scoreboard (base indicators) 2016 ................................................................................... 187 

Table 6.8: MIP Scoreboard (base indicators) 2015 ................................................................................... 188 

Table 6.9: MIP Scoreboard (base indicators) 2014 ................................................................................... 189 

Table 6.10: MIP Scoreboard (base indicators) 2013 ................................................................................. 190 

7 

 
 
 
 
 
BACKGROUND INFORMATION 

The  Statistical  Annex  to  the  2024  Alert  Mechanism  Report  (AMR  2024)  presents  the 
Macroeconomic Imbalance Procedure (MIP) scoreboard and auxiliary indicators used in the 
economic reading of the MIP scoreboard. This annex covers the years from 2013 to 2022. 
Eurostat  mainly  compiles  MIP  indicators  from  data  transmitted  by  Member  States, 
following  the  relevant  European  legislation.  MIP  scoreboard  indicators  are  presented  with 
their  indicative  thresholds  (used  in  the  AMR),  while  no  threshold  is  applied  to  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. 

Starting  from  2023,  following  the  Commission  Communication  on  EU  economic 
governance,  the  MIP  procedure  is  focused  more  on  a  forward-looking  perspective,  on 
emerging risks, and on the evolution of imbalances. Moreover, greater attention is given to 
addressing systemic challenges and to developments in the European Union and euro area. 
In  this  context,  EU  and  euro  area  aggregates  have  been  added  to  the  procedure  and  are 
therefore presented in the tables of this statistical annex. 

A note on technical details of the MIP indicators’ European aggregates has been published 
on the Eurostat website. 

The  MIP  Scoreboard  consists  of  14  scoreboard  indicators  measuring  internal  and  external 
imbalances as well as social and labour market developments. 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. 

Table 1. MIP scoreboard indicators (AMR 2024) 

Indicator 

Unit 

Data source 

Statistical domain 

Current account balance (% of GDP) 

3 year average 

Eurostat 

BoP/NA 

Eurostat 

BoP/NA 

% of GDP 

DG ECFIN 

3 year % change 

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

Net international investment position  
Real effective exchange rate (42 trading partners, 
HICP deflator) 
Export market share (% of world exports) 
Nominal unit labour cost index (2015=100) 
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  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) 
Note: NA – National Accounts; BoP – Balance of Payments; FA – Financial Accounts; EDP – Excessive Deficit Procedure 
Statistics; GFS – Government Finance Statistics; LFS – Labour Force Survey/Labour Market Statistics; pp  – percentage 
points 

Eurostat, IMF 
Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 
Eurostat 
3 year change in pp  Eurostat 

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

3 year change in pp  Eurostat 

3 year change in pp  Eurostat 

EU-LFS 

EU-LFS 

8 

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

Table 2. MIP auxiliary indicators (AMR 2024) 

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 
Direct investment liabilities – flows 
Direct investment liabilities – 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 of 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, domestic and foreign 
entities 
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 and socially 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 0-64 

Data 
source 

Eurostat 
Eurostat 
Eurostat 

Eurostat 
Eurostat 

Eurostat 
Eurostat 
Eurostat 

DG 
ECFIN 
Eurostat/
OECD 
Eurostat 
Eurostat 
/IMF 
Eurostat 
ECB 

DG 
ECFIN 
Eurostat 

Eurostat 
Eurostat 
ECB 

Eurostat 
Eurostat 

Statistical 
domain 

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

BoP/NA 
BoP/NA 
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 

9 

 
 
 
 
 
 
 
In Chapter 3, data are presented by indicator to allow an 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. 

The cut-off date for the data, that is the date on which data were extracted from the Eurostat 
database  for  the  preparation  of  this  document,  is  31  October  2023.  For  additional 
information about the data, please contact ESTAT-MIP@ec.europa.eu. 

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) persist.  

Eurostat continues to work 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.  

Concerning the COVID-19 pandemic, which impacted the ability of statistical authorities to 
collect  and  process  data  in  the  traditional  manner,  data  revisions  have  remained  generally 
limited.  However,  the  quality  of  estimates  became  more  uncertain  with  the  prevalence  of 
high energy prices and inflation, and higher revisions can be observed in certain cases. 

Regulation (EU) 2019/1700 came into force in January 2021 and introduced changes to the 
EU-LFS. The impact  of  the revised EU-LFS on  employment data in  the  national  accounts 
varied  across  the  countries  and  required  some  of  them  to  review  and  modify  their  data 
compilation practices. 

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  basis1.  All  Member  States2  have  now  carried  out  benchmark 
revisions since the introduction of ESA 2010 in September 2014.  

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  or  EDP  data.  The  coordinated  benchmark  revisions  were  considered 
successfully  implemented  and  improved  the  quality  of  the  accounts.  The  good  practices 
developed will be retained for the next harmonised benchmark revisions in 2024, for which 
preparations are ongoing. 

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

10 

 
 
 
In  the  Balance  of  Payments  domain,  progress  has  been  made  on  addressing  the 
asymmetries  in  statistics  for  trade  in  goods  and  services.  Eurostat  carried  on  activities  to 
further  reduce  asymmetries,  in  particular  the  follow  up  of  some  of  the  recommendations 
resulting  from  the  previous  ITSS3  asymmetry  study,  an  ongoing  initiative  to  obtain  the 
Member States’ VIES (VAT Information Exchange System) data for the intra-exports side, 
and  the  development  of  a  flexible  tool  to  exchange  information  on  compensation  of 
employees. Furthermore, Eurostat is working on VAT “Mini One Stop Shop” (MOSS) and 
“One Stop Shop” (OSS) data to address asymmetries for services. 

In  addition,  an  Asymmetries  Resolution  Mechanism  (ARM)  is  managed  by  ECB  and 
Eurostat in the context of quarterly BOP production. The purpose of the ARM is to facilitate 
bilateral and/or multilateral reconciliation exercises to reduce asymmetries in foreign direct 
investment.  Eurostat  has  also  set  up  an  ARM  on  international  trade  in  services,  aiming  at 
resolving asymmetries in trilateral meetings organized by Eurostat and partner countries. 

Eurostat  is  working  to  provide  further  guidance  on  the  treatment  of  non-resident  VAT 
traders  in  balance  of  payments  statistics.  Eurostat  launched  a  questionnaire  among  the 
members  of  the  Balance  of  Payments  Working  group  and  the  GNI  Expert  Group  during 
autumn  2023  which  aims  to  identify  current  practices  in  Member  States  regarding  related 
economic activities and adjustments in the macro-economic accounting frameworks. Based 
on  the  findings  from  this  survey,  Eurostat  intends  to  provide  guidance  on  compiling  such 
transactions  and  help  Member  States  to  implement  a  more  standardized  approach  to  the 
issue of non-resident VAT traders. The guidance will address practical problems and include 
relevant  advice,  for  example  on  how  to  deal  with  sparse  data,  and  on  identifying  and 
assembling data sources. In order to broaden the audience of the guidance note and facilitate 
the  harmonised  implementation  of  recommendations,  detailed  explanations  for  non-expert 
users will be provided, building on some practical examples.  

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 that 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  special  purpose  entities, 
and  of  the  vertical  discrepancy  with  non-financial  sector  accounts.  On  the  latter,  Eurostat 
and the ECB published a report with recommendations4 with the aim of improving vertical 
consistency across institutional sectors in order to enhance cross-country comparability.  

Concerning the Labour Force Survey (EU-LFS), Regulation (EU) 2019/1700 entered into 
force  in  2021,  together  with  its  EU-LFS  implementing  regulation  (Regulation  (EU) 
2019/2240).  The  innovations  introduced  concern  all  aspects  of  the  survey  -  the  sample 
design  and  its  temporal  distribution,  the  underlining  definitions,  precision  requirements, 
quality  monitoring,  and data  collection  modalities.  The  main  purpose  is  the  harmonisation 
between countries  of the fundamental  features of the survey. In addition,  several  countries 
used the occasion to introduce nationally specific innovations, thereby ensuring a maximum 
of only one break in the time series.  

Due  to  pre-existing  differences  between  national  surveys,  it  is  not  possible  to  assess  the 
overall impact of the new Regulation on the survey results: the further a country was from 
the harmonised new standards, the more that country has been affected by the change. Some 

3 ITSS: International Trade in Services Statistics. 
4 https://ec.europa.eu/eurostat/documents/499359/499434/Recommendations+on+Vertical+consistency.pdf  

11 

 
 
 
countries show figures in line with those of the old LFS, while others declare relevant breaks 
in the LFS series. In addition to the mentioned changes, a notable case is the German data, 
primarily  due  to  the  introduction  of  the  new  German  system  of  integrated  household 
surveys, including the LFS, in 2020. Because of technical reasons, German 2020 data were 
not directly estimated from LFS micro-data but, instead, based on a larger sample including 
additional  data  from  other  integrated  household  surveys.  In  2021,  Germany  returned  to 
purely LFS-based data. 

Consistency  in  MIP  scoreboard  indicators  has  been  ensured  thanks  to  back-calculation,  as 
required  by  the  new  regulation5.  The  back  estimates  cover  several  years,  to  ensure  full 
coverage of the MIP labour market indicators. Each country was asked to provide either the 
back-calculated series or the information to run the back-calculation in Eurostat. The labour 
market  indicators  in  the  MIP  scoreboard  may  therefore  show  different  figures  to  those 
published  in  the  past,  even  in  the  initial  part  of  the  series.  However,  series  are  consistent 
over time and multiannual indicators are calculated with consistent figures. 

In  the  House  Prices  domain,  the  Commission  Implementing  Regulation  (EU)  2023/1470, 
which  lays  down  the  methodological  and  technical  specifications  of  the  house  price  index 
and the owner-occupied housing price index, was adopted in 2023. This regulation will start 
producing effects from January 2024. Level 3 self-assessment reports and Level 2 domain-
specific  quality  report  on  the  quality  of  the  housing  price  statistics  underlying  the  MIP 
indicators  have  also  been  updated  in  2023  by  the  countries  and  Eurostat,  respectively. 
Greece does not provide official data to Eurostat in this domain. 

General Government Gross Debt data notified for the years 2019 to 2022 were released on 
23 October 2023 within the EDP notification. For more information on the main revisions 
between April 2023 and October 2023 notifications, please see the latest EDP news release. 
Timeliness  and  availability  of  general  government  gross  debt  data  remained  excellent.  In 
February 2023, Eurostat published an updated version of the Manual on Government Deficit 
and Debt. 

Concerning  auxiliary  indicators,  in  the  domain  of  Income  and  Living  Conditions  (EU-
SILC),  following  the  entry  into  force  of  Regulation  (EU)  2019/1700,  timeliness  improved 
further for the EU-SILC 2022 data. Due to the methodological changes introduced in 2022 
concerning the “At risk of poverty or social exclusion” indicator, the current EU-SILC time 
series start in 2015.   

THE MIP QUALITY FRAMEWORK  

The  credibility  of  the  MIP  and  its  smooth  implementation  critically  depends  on  the 
availability and quality of the MIP underlying statistics. The statistics used in the procedure 
must be fit for the purpose, timely, reliable and comparable among Member States. 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). 

5 More information on the page: 
 https://ec.europa.eu/eurostat/statistics-explained/index.php?title=EU_labour_force_survey 

12 

 
 
 
In 2022, the Economic and Financial Affairs Council (ECOFIN)6 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  webpage7  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  MIP 
underlying  statistics  and  address  the  most  relevant  quality  issues.  The  9th  report  was 
published on 13 July 2023 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 
legal  bases  and  evaluate  whether  the  statistics  are  in  line  with  international  statistical 
standards. The following level 2 reports are currently available: 

−  Balance  of  Payments  and  International  Investment  Position  statistics  (Eurostat, 

ECB)  

−  National  Accounts  (including  Financial  Accounts)  (Eurostat)  and  Financial 

Accounts (ECB) 

−  House Price Statistics (Eurostat) 

−  Labour Force Survey (Eurostat) 

−  Government Finance Statistics (Eurostat) 

In line with the legal requirements of quality reporting for national and regional accounts8, 
the sixth annual Eurostat quality report was published on 15 December 20229, and covered 
data transmissions in 2021 in line with the ESA 2010 transmission programme. The seventh 
quality report, based on 2022 data, is close to completion. The Eurostat quality report also 
explicitly covers data underlying the MIP indicators. From 2021 onwards, the complete set 
of quality indicators was  applied for the assessment of data transmissions, in  line with  the 
requirements  of 
implementing  regulation.  An  overview  on  ESA  2010 
implementation  and  quality  is  available  on  the  Eurostat  website10.  After  the  expiration  of 

the  2016 

6 Council conclusions of ECOFIN Council meeting on 6 November 2020:         
https://data.consilium.europa.eu/doc/document/ST-12693-2020-INIT/en/pdf 
7 https://ec.europa.eu/eurostat/web/macroeconomic-imbalances-procedure/quality 
8 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. 
9  https://ec.europa.eu/eurostat/documents/7870049/15714457/KS-FT-22-008-EN-N.pdf 
10 https://ec.europa.eu/eurostat/web/esa-2010/implementation-data-quality 

13 

 
 
 
ESA  2010  derogations,  Eurostat  is  closely  monitoring  remaining  compliance  gaps  and 
encouraging countries to address them urgently. 

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, the respective structure, the indicators and the findings 
included in the Eurostat and the ECB reports are to a great extent harmonized.  

In addition, the Commission (DG ECFIN), in its capacity as compiler of the Real Effective 
Exchange Rate (REER) indicator, publishes quality information on real effective exchange 
rate indicators on its website11. 

•  Level 3: 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  website12;  in  particular, 
reports for Financial Accounts and Housing Price Statistics were updated in  2022 and 
2023.  

Moreover,  joint  ECB-Eurostat  visits  to  Member  States  have  taken  place,  focusing  on 
Balance of Payments and Financial Accounts. The last visited country was Cyprus in June 
2023. A visit to the Netherlands is planned in December 2023.  

Malta  is  currently  implementing  a  revision  in  the  Balance  of  Payments  and  International 
Investment  Position  statistics,  to  address  the  issues  identified  during  the  MIP  verification 
process and improve the overall quality of the Maltese BOP and IIP statistics. The periods 
revised  in  this  publication  cover  year  2022  for  Balance  of  Payments  data  and  years  2021-
2022 for International Investment Position data. 

The rest of this document presents the 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  and  aggregate 
respectively, and finally Chapter 6 illustrates untransformed scoreboard indicators by year. 

11 https://ec.europa.eu/info/files/report-quality-sources-and-methods_en  
12 https://www.cmfb.org/main-topics/mip-quality 

14 

 
 
 
 
 
Chapter 1: Tables by year - Headline indicators  
Table 1.1: MIP Scoreboard 2022   

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 (3 year % change)House price index, 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 pp+0.5 pp+2 ppEU1.5 1.5e-1.0 -8.0 7.8 0.5 5.5p133.0p83.5 6.8 -2.3p1.3 -0.3 -1.1   EA1.3 3.2 -1.1 -8.4 7.9 0.4 5.3p136.2p90.9 7.5 -2.4p0.9 -0.4 -1.7 BE0.6 57.7 1.7 -1.9 10.1p-3.8 5.7p161.4p104.3 5.9 -2.7 1.4 0.2 1.9 BG-1.0 -12.9 5.8 15.5 23.6 -2.1b5.9 74.6 22.6 5.2 12.0 0.5 -0.6 -1.4 CZ-2.3 -19.7 13.7 -7.7 14.8 1.6 4.5 76.1 44.2 2.5 3.2 0.5 0.0 1.2 DK10.2 58.2 -1.2 12.4 7.2 -7.4 13.1 188.0 29.8 5.1 -1.6 1.3 -0.3 0.5 DE6.3 70.2 -0.5 -13.0 7.2p-1.3 6.7p118.4p66.1 3.5b1.5 1.4 -0.2 -0.2 EE-2.6 -20.2 8.8 17.0 19.0 4.5 9.2 94.3 18.5 6.2 1.6 2.0 0.4 7.0 IE6.0 -116.8 -4.6 32.1 -10.6 5.0 2.0 147.1 44.4 5.5 -4.0 3.5 -0.3 -2.4 EL-7.9 -144.2 -2.5 12.6 3.5p4.4e1.1p100.8p172.6 14.9 -0.5 0.9 -3.6 -6.1 ES0.7 -60.2 -0.7 -7.8 10.8p0.8 0.3p123.5p111.6 14.4d-4.5 0.2d-0.3d-2.7dFR-1.1 -23.8 -3.8 -10.7 11.1p1.5 8.7p163.9p111.8 7.7d-1.3p1.0d-0.3d-3.4dHR-0.9 -25.4 -0.6 12.1 11.0p3.2 6.0p79.3p68.2 7.4 9.5 3.4 0.0 1.4 IT1.6 4.7 -1.9 -8.4 4.9 -3.2 2.9 105.5 141.7 9.0 -5.7 -0.2 -1.3 -5.5 CY-8.0 -96.2 -3.0 20.7 -1.2p-3.1 -3.9p213.4p85.6 7.3 -2.3 2.2 0.2 2.0 LV-1.9 -26.5 5.7 15.3 16.7 -1.0 3.0 52.5 41.0 7.5 4.1 -0.5 -0.7 2.6 LT1.0 -7.0 9.8 28.8 27.7 0.4 6.8 51.4 38.1 7.2 1.0 0.6 0.4 0.0 LU8.0 47.0 -0.5 -0.8 13.2 4.0 -19.5p325.5p24.7 5.6 -4.9 1.5 0.0 0.6 HU-4.5 -50.8 -8.1 -3.5 23.1p5.1p9.2p78.8p73.9 3.9 8.6 2.5 0.1 -0.6 MT0.1 78.8 -3.1 2.7 8.6 1.2p6.4 121.8 52.3 3.6 5.9 4.1 0.1 -1.0 NL8.8 75.2 3.2 -0.1 9.8p6.1 6.9p210.1p50.1 4.2 -3.7p1.3 -0.2 -0.9 AT1.6 17.6 0.1 -4.7 10.7 3.7 5.0 121.9 78.4 5.7 -3.0 0.5 -0.2 0.4 PL-0.4 -33.4 -0.2 16.6 16.9p-1.9 1.9 63.5 49.3 3.2 3.0 3.6 0.2 0.9 PT-1.0 -83.6 -2.9 -1.9 10.7p4.8 2.9p141.1p112.4 6.5 -4.0 1.5 -0.1 0.7 RO-7.1 -40.6 2.6 6.7 10.4p-6.2 3.3p43.3p47.2 5.8 8.2 3.5 0.2 1.8 SI3.2 -1.5 -1.3 2.9 14.3 4.3 5.2 66.0 72.3 4.6 -1.4 1.6 -0.3 2.0 SK-3.6 -61.0 3.8 -6.6 13.3 1.3 9.3 92.7 57.8 6.5 -9.3 1.4 0.2 2.8 FI-0.5 -1.7 -3.1 -2.0 8.6 -4.6 2.3 144.7 73.3 7.4 1.7 2.5 0.0 -3.5 SE5.8 34.8 -1.4 -2.7 5.8 -3.1 10.6 207.3 32.9 8.3 3.7 1.0 0.4 2.3 2022External imbalances and competitivenessInternal imbalancesEmployment indicators¹1) For employment indicators, see page 2 of the AMR 2016. 2) House price index: b = break in time series due to new data source for BG; e = estimate by NCB for EL. 3)  Private Sector Credit Flow: data for Luxembourg are preliminary estimates until the final structural business statistics survey becomes available.  4) Employment indicators and Unemployment rate: d = Spain and France have assessed the attachment to the job and included in employment those who had an unknown duration of absence from work, but are expected to return to the same job once COVID-19 health measures allow it.Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services)Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional.  
 
 
 
 
 
 
Table 1.2: MIP Scoreboard 2021   

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 (3 year % change)House price index, 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 pp+0.5 pp+2 ppEU2.5 0.0e0.2 -4.0 6.3 5.8 6.5 140.9 87.4 7.0 8.8 0.8 -0.3 0.0   EA2.3 1.4 0.0 -3.8 6.4 5.5 6.1 143.2 94.7 7.8 8.6 0.3 -0.4 -0.6 BE0.9 67.7 0.5 3.8 4.9 4.5 6.2 172.4 108.0 5.9 8.1 1.1 0.0 2.2 BG0.1 -18.6 3.7 11.3 16.4 2.5 4.9 84.0 23.9 5.5 9.6 0.6 -1.0 -0.1 CZ-0.1 -14.5 5.0 -1.7 13.9 16.4 2.9 78.8 42.0 2.5 7.8 0.0 0.1 1.5 DK8.6 72.9 -1.1 5.7 4.8 9.5 11.5 206.9 36.0 5.2 11.6 1.4 0.0 0.3 DE7.6 68.0 0.5 -6.0 7.0p8.3 6.8p120.4p69.0 3.5b7.2 1.0 -0.2 0.4 EE-0.7 -13.4 1.9 18.6 10.0 10.4 6.8 96.9 17.8 5.9 18.5 -0.2 0.3 4.7 IE-4.2 -130.9 -2.6 40.4 -9.4 4.2 1.9 168.1 54.4 5.7 18.9 1.8 -0.3 0.7 EL-5.0 -173.0 -3.3 8.6 3.7p6.5e0.8p122.0p195.0 16.7 14.3 -0.8 -3.3 -5.7 ES1.2 -71.0 -0.5 -12.1 13.8p1.4 3.0p137.7p116.8 14.8d6.3 0.0d-0.2d0.5dFR-0.2 -30.9 -0.5 -11.8 5.0p4.8 6.7p167.5p112.9 8.1d8.3 0.2d-0.2d-3.1dHR0.8 -32.5 -1.5 4.0 3.6 4.9 3.0 86.7 78.1 7.2 11.8 2.4 -0.6 -1.8 IT3.2 7.5 -1.8 -6.7 3.5 1.0 3.3 111.3 147.1 9.6 8.0 -1.1 -1.1 -2.5 CY-7.2 -104.0 -2.4 32.5 2.4p-4.2 6.5 242.1 99.3 7.4 3.6 1.7 -0.1 -3.1 LV-0.5 -27.3 2.3 13.1 12.0 7.2 0.9 58.5 44.0 7.3 13.3 -1.8 -1.1 2.6 LT4.0 -7.4 4.4 36.6 18.7 10.9 5.8 53.6 43.4 7.3 22.6 0.9 0.6 3.2 LU8.5 42.6 0.7 16.7 7.4 12.5 64.1 343.9 24.5 5.9 13.1 2.1 0.4 2.7 HU-2.0 -52.2 -4.1 -2.7 13.3 9.6 12.9 80.9 76.7 3.8 16.5 2.1 -0.1 3.6 MT4.1 97.0 -1.2 13.4 8.4 3.8 8.8 132.7 54.0 3.8 11.1 3.5 -0.9 0.3 NL8.1 93.3 2.3 3.2 9.3p11.6 9.6 223.7 51.7 4.5 0.2 1.0 -0.4 0.4 AT2.5 15.6 1.2 -3.8 10.6 10.1 7.6 130.7 82.5 5.7 8.2 0.1 0.3 1.0 PL0.3 -39.8 -0.4 23.7 12.1 3.5 3.8 71.3 53.6 3.3 12.3 3.4 -0.1 0.1 PT-0.5 -94.4 -2.8 -6.0 13.3 7.3 4.5 156.6 124.5 6.8 7.6 0.7 -0.3 3.1 RO-5.7 -47.0 1.0 9.6 14.7p-0.2 3.8 47.8 48.5 5.5 14.3 3.2 -0.2 0.5 SI5.5 -7.7 -0.4 10.6 12.7 7.9 3.5 66.2 74.4 4.7 14.1 0.6 -0.3 3.9 SK-2.2 -60.5 3.1 -1.9 12.6 3.0 4.5 92.6 61.1 6.4 23.7 0.2 -0.8 4.8 FI0.2 1.0 -0.7 3.8 6.2 2.8 6.1 150.5 72.5 7.4 9.1 1.8 -0.2 -0.2 SE6.0 20.7 2.1 0.9 4.6 8.1 17.1 214.5 36.5 8.1 11.2 0.6b0.3 7.9 Employment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1)Foremploymentindicators,seepage2oftheAMR2016.2)Housepriceindex:e=estimatebyNCBforEL.3)EmploymentindicatorsandUnemploymentrate,d=SpainandFrancehaveassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,but are expected to return to the same job once COVID-19 health measures allow it.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)2021External imbalances and competitivenessInternal imbalances 
 
 
 
 
Table 1.3: MIP Scoreboard 2020   

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 (3 year % change)House price index, 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 pp+0.5 pp+2 ppEU2.4 -3.5e4.1 3.6 8.3 5.0 6.1 146.2 90.0 7.1 7.0 0.0 -1.2 -0.9   EA2.3 -2.4 3.8 3.1 8.7 4.6 6.2 148.6 97.2 7.9 6.7 -0.5 -1.4 -1.3 BE0.2 47.3 2.4 8.9 7.0 3.3 -3.0 182.8 111.8 5.8 8.0 0.4b-1.0 -3.5 BG1.0 -25.6 6.9 15.4 19.9 5.2 4.2 92.1 24.6 5.8 10.6 0.9 -1.2 1.3 CZ0.9 -16.3 5.6 7.8 18.7 5.4 0.6 81.7 37.7 2.3 4.8 0.5 -0.4 0.1 DK7.9 69.0 0.9 10.5 7.3 4.7 5.4 217.1 42.3 5.2 5.6 1.1b-0.3 -0.8 DE7.7 63.7 2.4 1.6 10.5p7.2 6.8p120.9p68.8 3.3b11.4 0.3b-0.4b0.8bEE0.5 -21.0 4.9 15.8 14.6 7.0 2.9 101.5 18.6 5.6 18.0 0.4 -0.8 6.2 IE-7.1 -165.0 -1.3 51.7 -6.5 -0.4 -3.8 190.3 58.1 5.6 7.6 -1.8 -1.6 1.4 EL-3.7 -174.3 0.3 -10.9 6.0 5.7e5.5 125.6 207.0 18.4 27.7 -2.9 -3.8 -6.5 ES1.5 -84.9 1.0 -7.4 15.2 2.1 4.8 147.9 120.3 15.0 10.5 -1.7 -2.7 -0.3 FR-0.6 -29.4 2.6 -8.6 4.5 4.1 13.5 173.9 114.6 8.5 11.7 -0.4 -1.0 -2.0 HR1.0 -45.2 0.5 -1.4 13.5 7.1 1.3 97.2 86.8 7.5 7.2 0.7 -2.5 -6.3 IT3.2 0.9 0.5 -3.1 6.5 1.8 4.0 118.4 154.9 9.9 7.4 -1.8 -1.8 -4.8 CY-6.5 -133.4 -0.4 38.5 5.8 0.8 -1.4 267.2 114.9 7.7 -7.0 1.9 -2.4 -6.5 LV0.7 -34.0 5.9 20.3 19.2 3.5 -1.8 65.2 42.2 7.3 10.6 1.1 -1.2 -2.1 LT3.7 -15.7 6.7 38.3 17.3 6.0 0.3 54.3 46.2 7.0 32.6 2.6 -0.2 6.3 LU8.0 42.4 1.5 21.7 12.4 12.7 45.7 327.8 24.6 6.0 -2.2 2.0 -0.4 7.8 HU-0.6 -52.1 -4.9 7.1 13.7 1.5 8.2 77.0 79.3 3.7 55.0 2.0 -0.5 2.0 MT5.9 59.4 1.9 30.6 20.3 2.2 5.8 142.7 52.2 3.9 4.9 4.9 -0.9 0.3 NL7.1 113.0 3.7 6.5 14.1 6.2 -0.7 233.1 54.7 4.7 1.4 1.2 -1.0 0.2 AT2.2 12.3 3.1 4.9 12.2 6.4 4.4 130.6 83.0 5.3 11.8 -0.4 -0.6 1.2 PL0.1 -43.9 1.1 33.3 14.0 6.7 1.8 76.1 57.2 3.5 11.6 1.4 -0.9 -4.0 PT0.0 -104.6 -0.1 -1.8 15.6 8.1 4.4 163.7 134.9 7.0 6.6 0.0 -2.3 -1.4 RO-4.8 -47.6 3.4 19.5 20.7 2.3 1.3 48.0 46.8 5.4 13.4 2.3 -0.6 -1.4 SI6.3 -15.7 1.7 19.3 14.3 5.2 -0.9 69.5 79.6 4.8 14.0 0.2 -1.2 3.0 SK-1.7 -64.7 5.2 7.2 15.4 7.2 2.6 94.8 58.9 6.3 9.6 0.4 -2.2 0.4 FI-0.5 -4.0 2.3 10.9 5.5 1.4 6.5 152.7 74.7 7.3 8.0 1.5 -1.1 1.0 SE4.6 6.9 -4.8 2.8 8.7 3.3 14.5 212.7 39.9 7.3b10.4 0.0 -0.2 6.3 2020External imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. p:Provisional. 1)Foremploymentindicators,seepage2oftheAMR2016.2)Housepriceindex:e=estimatebyNCBforEL.3)LabourForceSurveyindicators:b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirect 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 1.4: MIP Scoreboard 2019   

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 (3 year % change)House price index, 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 pp+0.5 pp+2 ppEU2.7 -5.1e3.4 4.0 4.7 3.6 4.3 135.2 77.7 7.5 6.9b1.3 -1.6 -5.1   EA2.8 -4.4 3.1 4.4 4.7 3.2 4.0 136.8 84.1 8.3 6.5b0.9 -1.7 -5.2 BE0.0 40.9 2.7 -2.5 4.8 2.5 4.8 178.5 97.6 6.2b5.8 1.4 -1.6 -5.8 BG2.0 -30.2 4.7 14.9 20.4 3.9 5.6 90.8 20.0 6.2 5.3 4.5 -2.1 -8.3 CZ0.8 -19.8 8.7 4.6 14.5 6.2 1.4 78.6 30.0 2.4 4.6 1.7 -1.1 -4.9 DK7.9 77.7 -0.3 1.5 3.4 1.4 10.5 221.2 33.7 5.3b13.4 1.6b-0.4 -2.1 DE8.0 58.5 2.0 -0.5 8.1p4.4 6.4p112.2p59.6 3.3 7.3 1.3 -0.5 -1.3 EE1.9 -22.4 5.9 1.4 16.0 4.2 3.4 98.3 8.5 5.2 11.6 1.3 -1.3 -2.4 IE-4.7 -193.6 -1.5 72.7 -4.0 0.5 -9.6 209.5 57.1 5.8 15.4 0.6 -2.6 -4.3 EL-2.1 -154.1 0.5 3.0 -1.1 7.2e-0.9 110.4 180.6 19.8 11.6 0.3 -4.1 -10.7 ES2.3 -72.8 1.7 2.1 5.9 4.1 1.5 129.0 98.2 15.5 1.7 -0.4 -4.2 -11.9 FR-0.4 -24.6 1.6 -1.0 0.9 2.5 8.4 153.1 97.4 8.9 6.5b0.3 -0.8 -5.3 HR2.5 -46.7 1.6 21.7 3.0 7.8 1.3 88.4 70.9 8.8 6.5 0.9 -4.2 -14.7 IT2.8 -2.0 0.2 -2.6 3.2 -0.7 0.4 106.0 134.2 10.6 4.1 0.9 -1.2 -8.5 CY-4.9 -115.4 -0.3 25.0 5.2 3.4 -0.5 265.5 93.0 8.9 7.5 2.6 -3.7 -12.5 LV0.2 -40.1 3.7 3.1 17.5 5.5 1.1 66.4 36.7 7.5 4.6 1.1 -1.7 -4.8 LT1.5 -23.5 3.8 16.1 16.5 4.5 2.6 55.2 35.8 6.5 6.2 2.5 -1.1 -2.6 LU6.6 66.2 2.0 9.9 13.9 8.7 -0.1 298.4 22.4 5.6 3.7 2.0 -0.9 -1.9 HU0.4 -49.6 0.4 4.8 11.5 11.8 4.1 67.4 65.3 3.6 36.8 2.6 -1.2 -1.5 MT7.1 52.8 1.6 33.5 8.0 4.2 13.7 129.3 40.0 3.8 64.4 5.3 -1.5 -1.4 NL8.4 89.6 2.4 -0.5 6.0 4.6 -0.3 229.9 48.6 5.1 8.0 1.2 -1.4 -3.6 AT1.6 14.4 2.1 1.0 5.7 4.0 5.0 121.5 70.6 5.3 3.5 0.7 -1.0 -2.9 PL-1.1 -48.8 2.7 21.7 8.0 6.4 3.6 74.2 45.7 4.1 4.2 2.1 -1.5 -7.9 PT0.8 -100.0 -0.3 8.1 8.5 9.0 2.6 149.5 116.6 7.7 -0.2 2.2 -3.6 -9.7 RO-4.2 -43.4 0.2 17.1 24.0 -1.9 2.0 46.5 35.1 5.4 10.3 3.1 -1.4 -4.9 SI6.0 -16.3 1.0 15.5 7.9 5.3 0.8 68.5 65.4 5.4 9.9 3.5 -2.4 -7.2 SK-2.5 -65.6 2.5 1.1 14.2 6.2 4.5 91.8 48.0 6.8 6.4 0.8 -2.9 -6.3 FI-1.0 4.0 0.1 2.9 1.3 -0.6 6.6 146.1 64.9 7.7 7.8 2.3 -1.4 -2.8 SE3.5 13.3 -8.3 -3.2 7.2 0.4 9.7 199.7 35.6 6.8b11.8 0.8 -0.5 1.1 2019External 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 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 1.5: MIP Scoreboard 2018   

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 (3 year % change)House price index, 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 pp+0.5 pp+2 ppEU3.0 -8.9e9.5 5.4 3.5 3.6 4.4 135.5 79.8 8.3 0.4b1.3 -1.8 -5.7   EA3.0 -8.0 8.4 6.9 3.5 3.2 4.2 137.0 86.1 9.1 0.6b0.9 -1.8 -5.6 BE0.1 34.3 7.0 -1.4 4.0 0.8 -1.3 180.3 99.9 7.0b-3.9 0.9 -1.4 -6.5 BG2.4 -37.0 4.2 12.9 20.5 4.1 4.0 95.0 22.1 7.3 6.6 2.2 -2.5 -8.8 CZ1.3 -24.4 11.0 10.9 13.1 5.9 6.8 83.0 32.1 3.0 3.4 2.6 -1.7 -5.9 DK7.7 64.0 2.6 -0.2 1.2 3.7 4.8 215.3 34.0 5.6b-0.3 1.3 -0.6 -1.7 DE8.1 52.3 5.3 3.1 6.0 5.1 6.2 109.1 61.9 3.6 3.2 1.1 -0.6 -1.1 EE1.5 -29.9 7.6 -0.2 14.2 2.3 4.6 101.2 8.2 6.0 6.6 2.3 -1.1 -2.3 IE0.5 -182.9 2.3 78.2 -1.2 8.2 -8.7 230.2 62.9 7.0 5.1 0.8 -3.2 -6.4 EL-2.2 -148.6 3.8 6.2 -1.0 1.7e-0.8 119.1 186.4 21.8 -4.7 0.4 -3.9 -9.1 ES2.6 -79.1 4.2 4.2 1.0 5.2 0.0 133.1 100.4 17.4 -1.3 -0.6 -5.0 -14.0 FR-0.7 -19.3 4.5 0.4 2.4 1.2 8.2 148.4 97.8 9.5 1.8b0.6 -0.6 -4.1 HR2.4 -55.7 4.2 21.9 -0.1 4.6 2.3 92.3 73.1 10.9 4.9 -0.6 -6.8 -18.6 IT2.6 -5.2 3.4 -0.3 2.3 -1.5 2.0 107.7 134.5 11.2 -0.1 1.8 -0.9 -8.1 CY-4.4 -125.2 2.0 21.7 -0.4 0.5 11.4 281.8 98.5 10.8 -1.7 1.1 -4.1 -12.6 LV0.9 -45.1 5.1 8.2 14.7 6.3 -0.2 69.8 37.0 8.6 -3.5 1.9 -1.5 -4.1 LT-0.1 -30.2 6.6 2.8 16.4 4.5 4.3 56.1 33.7 7.1 8.2 3.2 -1.9 -5.2 LU5.2 72.5 3.3 11.6 9.9 5.1 7.3 289.2 20.9 5.8 -1.3 0.2b-0.5 -3.1 HU2.2 -50.7 2.0 8.1 12.3 10.7 4.3 68.7 69.1 4.2 -9.1 3.6 -1.6 -7.2 MT3.9 55.2 4.5 18.8 12.5 4.8 6.1 120.6 43.4 4.1 2.2 5.9 -0.9 -2.5 NL8.5 73.1 3.3 1.4 3.7 7.1 5.2 241.3 52.4 5.9 -2.8 0.6 -1.5 -3.6 AT1.7 6.0 4.8 2.6 5.0 2.6 4.8 122.9 74.1 5.9 -1.0 1.3 -0.3 -1.3 PL-1.4 -54.7 0.1 22.1 6.6 5.0 3.8 76.7 48.7 5.1 3.2 2.6 -2.0 -9.2 PT1.0 -106.4 3.3 8.4 6.3 8.6 0.8 155.1 121.5 9.3 0.4 2.2 -4.3 -11.7 RO-3.1 -43.4 -0.7 23.3 28.7 1.7 1.9 47.1 34.5 6.2 3.4 2.5 -1.4 -6.8 SI5.6 -19.0 2.0 19.3 5.7 6.6 1.3 72.5 70.3 6.6 4.1 3.2 -2.5 -7.5 SK-2.3 -69.4 2.5 1.9 11.3 4.9 6.2 90.5 49.4 8.1 9.6 1.5 -4.1 -11.9 FI-1.5 -5.6 2.9 -4.3 -2.0 -0.4 4.3 143.9 64.8 8.4 20.1 2.2 -0.9 -5.2 SE2.5 8.2 -4.0 -6.9 8.1 -3.3 9.2 197.0 39.6 6.8b-1.8 0.9b-0.6b-2.9b2018External imbalances and competitivenessInternal imbalancesFigures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. 1)Foremploymentindicators,seepage2oftheAMR2016.2)Housepriceindex:e=estimatebyNCBforEL.3)Totalfinancialsectorliabilities:theincreaseforFIislargelyexplainedbyinternationalgroupchangesinthedeposit-takingcorporationssector.4)Unemploymentrate:b=changeinthesurveymethodology for BE; b = data collection improvement, introduction of CAWI (computer-assisted web interviewing) technique for DK; 5) Unemployment and Employment indicators, SE: b = following the detection of quality deficiencies, only half of the sample used. 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 indicators¹ 
 
 
 
 
Table 1.6: MIP Scoreboard 2017   

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 (3 year % change)House price index, 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 pp+0.5 pp+2 ppEU3.0 -13.3e-4.6 8.3 1.7 3.2 3.9 136.6 81.9 9.3 2.7 1.2 -1.7 -5.6   EA2.9 -12.3 -3.6 na1.8 3.0 3.6 137.6 88.1 10.1 2.4 0.8 -1.7 -5.1 BE0.9 56.0 0.9 1.5 1.4 1.7 0.8 185.5 102.0 7.9b1.3 0.2b-0.8b-4.0bBG2.1 -43.0 -3.3 19.9 15.8 3.9 4.5 98.7 25.1 8.6 7.1 2.3 -3.5 -10.8 CZ1.3 -24.9 5.4 8.2 5.7 9.1 6.0 80.3 34.2 4.0 28.3 2.4 -1.7 -8.0 DK8.0 55.4 -2.1 1.4 0.9 3.5 2.0 216.7 35.9 6.0b2.5 1.3b-0.5b-1.8bDE8.3 44.6 -2.0 5.6 4.9 4.6 4.2 106.6 65.2 4.0 4.1 0.5 -0.7 -1.1 EE1.8 -33.0 3.1 1.6 12.3 1.1 4.2 106.2 9.1 6.3 12.3 3.3 -1.3 -2.8 IE0.2 -166.4 -6.3 70.7 -14.1 9.3 0.2 248.5 67.4 8.3 4.2 0.8 -3.6 -9.0 EL-1.5 -143.4 -2.9 -0.7 -3.3 -1.4e-1.2 120.4 179.5 23.6 -13.0 0.9 -3.2 -8.5 ES2.7 -85.5 -2.5 9.4 -0.6 4.6 0.7 139.2 101.8 19.6 4.4 -0.3 -5.2 -14.6 FR-0.5 -20.1 -3.0 2.4 1.7 2.3 7.1 145.0 98.1 9.9 4.3 0.4 -0.2 -2.2 HR2.9 -63.5 0.1 22.8 -4.1 2.9 1.5 96.0 76.3 13.5 4.2 0.3 -5.5 -18.1 IT2.3 -7.5 -3.1 0.5 1.2 -2.1 1.2 109.4 134.2 11.7 1.9 1.7 -1.3 -8.1 CY-3.2 -135.7 -6.3 20.9 -4.6 1.2 7.6 303.6 93.2 13.0 0.8 -0.4 -3.2 -11.3 LV0.7 -51.1 1.7 7.2 14.2 5.3 2.8 75.6 38.9 9.4 6.2 2.5 -1.5 -2.6 LT-1.0 -37.3 2.6 3.4 16.3 5.2 4.5 56.2 39.1 8.0 13.9 2.2 -2.1 -6.0 LU4.6 97.7 -1.0 23.4 6.0 3.3 -5.3 289.4 21.8 6.2b0.3 -0.6 0.5 -7.2 HU2.9 -54.4 0.1 10.1 9.3 8.6 0.6 69.9 72.1 5.2 -7.1 4.3 -2.0 -9.6 MT2.7 56.6 -2.4 24.0 6.6 4.2 6.0 124.3 47.8 4.7 7.4 4.4 -0.9 -1.1 NL7.1 61.5 -1.7 1.2 0.1 6.1 3.5 247.6 57.0 6.9 0.5 0.7 -1.0 -3.4 AT1.9 4.3 0.2 2.1 4.3 3.4 3.6 122.3 78.5 6.2 4.4 1.1 0.4 -0.5 PL-1.1 -60.3 -3.5 23.4 4.0 2.0 3.1 77.3 50.8 6.3 4.7 2.3 -2.4 -9.2 PT0.9 -110.4 -0.8 13.8 2.8 7.6 2.9 163.0 126.1 11.2 1.3 2.0 -4.1 -10.9 RO-1.8 -47.8 -5.5 37.8 17.6 3.3 1.7 51.3 35.3 7.2 8.2 3.0 -1.0 -7.0 SI4.9 -24.2 -1.9 17.7 3.6 6.6 0.9 76.1 74.2 7.9 5.3 3.2 -2.2 -9.2 SK-2.2 -68.2 -1.9 4.8 7.8 4.4 5.0 89.8 51.5 9.7 16.6 1.9 -4.8 -11.0 FI-1.2 1.2 -2.6 -5.4 -3.7 0.1 8.3 147.7 66.0 9.0 -4.1 1.2 0.2 -0.5 SE2.7 -0.8 -5.5 -5.8 4.0 4.8 13.6 201.1 41.4 7.2 6.9 1.0 -0.3 -5.1 Internal imbalancesEmployment indicators¹1) For 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)Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. 2017External imbalances and competitiveness 
 
 
 
 
Table 1.7: MIP Scoreboard 2016   

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 (3 year % change)House price index, 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 pp+0.5 pp+2 ppEU2.8 -14.4e-6.5 6.2 1.0 4.1 3.9b139.8b84.3 10.2 4.9b1.1 -1.1 -4.5   EA2.7 -13.6 -4.5 na1.7 3.6 3.6 140.8 90.4 10.9 4.4 0.8 -1.0 -3.7 BE0.9 54.5 -0.4 -5.2 -0.7 1.1 23.8 193.4 105.0 8.4 2.7 0.1 0.2 -3.6 BG1.4 -47.5 -4.7 9.1 11.1 5.3 2.9 104.0 29.1 10.4 9.5 0.4 -2.9 -11.1 CZ0.8 -27.2 -3.7 2.5 3.3 6.8 6.2 80.4 36.6 5.1 16.8 2.1 -1.3 -8.5 DK8.3 52.6 -1.7 -3.1 1.3 5.1 3.1b222.4b37.2 6.4b15.4b0.9b-0.6b-2.6bDE8.1 39.5 -2.1 1.9 5.2 6.7 4.6 107.2 69.0 4.3 5.4 0.3 -0.6 -0.8 EE1.2 -39.5 4.4 -0.9 12.6 3.7 6.4 111.9 10.0 6.8 8.9 2.1 -1.6 -4.6 IE0.4 -172.9 -7.1 58.2 -15.6 7.0 -14.8 284.6 74.4 10.1 1.8 0.8 -3.7 -9.9 EL-1.1 -139.1 -4.0 -10.0 -4.7 -1.5e-2.2 127.0 180.5 25.2 -10.3 0.8 -1.3 -11.0 ES2.3 -85.4 -4.3 2.7 -1.2 4.5 -0.4 147.7 102.7 22.1 2.0 -0.1 -3.5 -11.1 FR-0.6 -13.0 -3.2 0.9 1.7 0.8 6.2 143.2 98.0 10.2 4.9 0.5 0.2 -0.4 HR1.9 -71.5 0.0 9.1 -5.5 2.0 -0.1 102.3 79.5 15.5 3.8 1.9 -4.4 -18.7 IT2.0 -12.1 -3.4 -4.2 1.5 0.2 0.1 112.1 134.8 12.2 3.3 1.9 -0.3 -2.3 CY-2.9 -133.2 -7.4 7.7 -9.3 2.2 12.0 326.6 103.2 14.7 -0.2 -0.2 -0.3 -9.8 LV-0.2 -53.8 4.8 9.1 14.9 7.3 2.5 78.3 40.3 10.2 4.7 2.4 -1.9 -5.7 LT0.0 -42.8 5.3 -1.6 15.0 4.4 4.4 56.6 39.7 9.2 15.8 3.1 -2.1 -7.4 LU4.8 63.6 -1.5 25.5 2.6 5.2 2.1 303.7 19.6 6.3b5.0 0.1 0.4 3.4 HU2.7 -59.1 -5.2 -2.3 5.6 12.3 -3.2 76.8 74.9 6.4 19.5 5.4 -2.5 -13.4 MT2.6 47.8 -2.9 17.6 6.3 4.5 10.7 134.2 54.7 5.3 3.7 4.3 -1.1 -2.0 NL6.9 62.6 -2.3 -3.2 -0.3 4.4 3.6 257.8 61.9 7.8 7.4 0.3 0.0 -2.1 AT2.3 4.1 0.9 -3.1 5.5 7.0 3.3 123.3 82.8 6.2 -3.5 0.8 0.8 1.7 PL-1.7 -59.7 -5.1 13.6 2.4 2.7 4.9 82.3 54.5 7.7 9.2 2.4 -2.3 -9.8 PT0.5 -110.5 -1.8 5.0 -0.5 6.1 -1.8 169.3 131.5 13.0 -0.4 1.5 -3.3 -10.3 RO-0.9 -50.0 -2.6 24.5 11.3 5.2 0.6 54.6 37.9 8.1 7.0 2.3 -0.5 -3.7 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 -6.3 SK-1.2 -66.6 -1.6 7.1 4.0 7.0 9.2 87.9 52.3 11.4 8.6 2.1 -4.8 -11.5 FI-1.4 5.5 0.4 -16.0 0.3 1.1 1.3 148.1 68.0 9.0 3.8 0.6 0.8 -0.1 SE3.2 -1.6 -9.2 -9.5 3.0 7.3 12.4 195.0 42.2 7.6 8.6 1.0 -0.3 -4.6 2016External imbalances and competitivenessFigures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. 1)Foremploymentindicators,seepage2oftheAMR2016.2)Housepriceindex:e=estimatebyNCBforEL.3)PrivatesectorcreditflowandPrivatesectordebt:thedeclineforIErelativeto2015predominantlyreflectsrestructuringandre-domicilingactivitiesoflargemultinationalcompanies.4)LabourForceSurvey 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)Internal imbalancesEmployment indicators¹ 
 
 
 
Table 1.8: MIP Scoreboard 2015   

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 (3 year % change)House price index, 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 pp+0.5 pp+2 ppEU2.6 -18.5e-5.4 1.3 1.4 2.0 2.2 140.9 85.1 10.9 5.2 1.1 0.0 -2.0   EA2.4 -17.3 -3.6 na2.2 1.2 2.0 142.3 91.3 11.6 5.5 0.7 0.3 -1.2 BE1.0 45.2 -1.7 -13.7 0.4 0.8 11.0 173.6 105.2 8.7 2.6 0.7 0.9 2.5 BG0.8 -61.5 -4.3 12.9 17.2 0.4b-3.8 108.8 25.9 12.1 9.6 2.2 -1.1 -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 6.6 2.9 211.4 39.8 6.9 -0.9 -0.3 -0.5 -3.6 DE7.5 34.9 -1.5 -3.3 6.2 4.1 2.9 106.3 71.9 4.7 3.1 0.4 -0.4 -0.9 EE0.9 -40.2 5.8 7.1 15.0 7.3 2.3 113.3 10.1 7.4 7.5 1.4 -3.0 -6.4 IE2.3 -197.9 -6.4 37.6 -18.8 11.0 -2.2 303.2 76.5 11.9 9.7 0.9 -3.9 -10.6 EL-1.0 -136.1 -5.6 -14.1 -11.0 -3.8e-3.1 129.1 176.7 26.5 6.3 0.4 3.3 -5.6 ES1.9 -88.9 -3.2 -3.5 -1.2 3.7 -2.0 155.7 103.3 24.2 -1.5 0.0 0.4 -4.6 FR-0.6 -12.9 -2.9 -3.9 2.3 -1.6 4.6 142.8 95.6 10.3 2.2 0.8 0.5 0.3 HR0.8 -78.0 0.1 -6.0 -6.0 -2.6 -1.5 109.6 83.0 16.9 0.8 3.0 0.0 0.2 IT1.5 -19.5 -2.4 -9.9 2.0 -4.0 -1.4 116.0 135.3 12.4 1.4 0.8 1.4 5.0 CY-2.0 -153.5 -6.2 -4.9 -10.8 1.0b4.3 345.3 107.5 15.7 9.7 0.4 3.2 5.1 LV-1.7 -59.6 2.5 13.1 16.7 -2.8 -0.8 78.3 37.0 10.9 13.3 1.4 -3.7 -12.2 LT0.9 -43.8 4.2 6.3 11.8 4.7 2.6 55.2 42.5 10.5 7.1 2.3 -2.7 -10.4 LU4.9 68.2 -0.7 17.6 5.6 4.5 21.3 322.7 21.1 6.2b17.2 1.5b0.3b-1.5bHU2.3 -67.5 -7.2 -9.5 1.3 12.5 -2.5 83.8 75.8 8.0 0.4 4.8 -1.8 -10.7 MT2.8 36.1 -2.8 8.9 0.9 4.1 7.1 131.2 56.2 5.7 3.6 4.9 -1.1 -2.2 NL7.8 50.0 -0.9 -6.9 -0.4 3.4 0.0 261.5 64.7 8.2 4.0 0.6 1.0 -0.4 AT2.0 2.2 1.3 -9.3 6.4 3.4 2.1 124.0 84.9 5.9 -0.1 0.4 0.5 1.3 PL-2.0 -60.6 -1.4 5.1 0.4 1.9 3.6 79.1 51.3 9.2 2.9 2.0 -1.2 -5.8 PT0.7 -118.9 -3.1 0.7 0.2 2.2 -1.4 179.3 131.2 14.9 -1.4 1.0 -0.6 -6.1 RO-0.7 -54.7 2.7 21.2 3.9 1.7 0.2 58.0 37.8 8.7 4.1 2.3 -0.1 -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 -4.4 SK0.3 -63.6 -1.2 3.9 2.5 5.5 5.0 80.2 51.7 12.9 10.4 1.6 -2.1 -7.6 FI-1.4 4.8 2.1 -23.2 3.3 -0.5b6.9 152.1 68.3 8.8 1.4 0.4 0.8 3.0 SE4.2 -5.0 -8.3 -10.5 2.5 12.0 8.7 192.5 43.7 8.0 1.7 1.5 0.0 -3.3 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. 1)Foremploymentindicators,seepage2oftheAMR2016.2)NetInternationalinvestmentpositionofLUhasbeenreviseddownwardsfollowingtherevisedtreatmentofeurobanknotesinnationalBalanceofpayments/Internationalinvestmentpositionstatistics.3)Housepriceindex:e=estimatebyNCBforEL;b=breakintimeseriesduetofullimplementationofharmonisedEUmethodologyforBGandCY;b=breakintimeseriesduetonewcalculationmethodforNewdwellings(apartments)forFI.4)Privatesectordebt:significantincreasesforIEduetore-domicilingoflargemultinationalcorporationsandmovementoflarge 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)Employment indicators¹2015External imbalances and competitivenessInternal imbalances 
 
 
 
 
Table 1.9: MIP Scoreboard 2014   

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 (3 year % change)House price index, 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 pp+0.5 pp+2 ppEU2.2 -19.2e-2.4 -9.0 3.5 0.4 0.6 141.2 86.9 11.2 9.8 1.3 1.1 1.5   EAna-17.9 -1.0 na3.9 -0.2 0.3 142.6 93.2 11.8 10.1 1.0 1.4 2.4 BE0.5 44.8 -0.6 -13.5 4.3 -1.3 -2.4 160.9 107.0 8.3 2.6 1.0 0.8 4.5 BG0.6 -72.0 -2.8 5.4 19.2 0.1 2.3 125.1 27.0 13.2 7.9 3.1b0.6 -1.3 CZ-0.6 -36.3 -10.0 -6.4 4.6 1.6 2.3 83.0 41.9 6.7 5.2 3.0b0.0 -2.2 DK7.7 43.3 -1.2 -16.1 2.3 3.1 -0.3 214.0 44.3 7.4 7.3 -1.2 -0.1 -2.2 DE7.0 29.4 -0.4 -9.7 7.4 2.2 0.2 107.1 75.3 4.9 5.3 0.5b-0.5 -0.8 EE-0.3 -47.0 4.8 20.3 14.7 12.9 6.3 116.9 10.6 8.6 12.6 0.7 -3.7 -7.4 IE-0.3 -164.2 -3.6 -14.8 -3.2 15.5 2.5 275.9 104.0 13.7 18.9 0.6 -2.2 -6.2 EL-1.9 -133.0 -5.6 -19.5 -8.5 -5.2e-3.1 132.4 180.3 26.4 -8.1 0.2 9.5 7.8 ES1.3 -95.9 -1.0 -11.7 -3.7 0.2 -7.1 167.4 105.1 25.1 0.1 0.3 4.0 7.0 FR-0.8 -15.6 -1.3 -14.7 4.4 -1.6 3.2 141.5 94.9 10.1 5.6 1.2 0.6 1.6 HR0.2 -88.5 -0.8 -19.5 -6.7 -1.3 -0.1 114.7 83.6 16.9 1.0 2.0 1.7 8.8 IT0.9 -21.0 0.2 -15.7 2.6 -4.9 -0.3 119.8 135.4 12.1 1.0 1.9 3.6 13.5 CY-3.1 -163.1 -1.7 -20.3 -6.5 -1.1 -0.8 351.1 108.8 14.6 11.6 0.8 6.1 13.6 LV-2.7 -63.5 0.4 11.6 13.2 4.7 -4.6 82.2 41.6 12.6 10.9 1.8 -4.7 -11.4 LT1.2 -46.8 1.7 19.7 8.7 6.4 0.2 54.1 40.5 12.0 16.7 2.3 -3.2 -13.3 LU5.1 67.3 0.5 9.0 5.8 3.7 28.1 313.2 21.9 5.6 39.0 2.9 0.2 5.8 HU2.1 -80.1 -6.8 -17.0 6.1 2.8 -0.2 91.4 76.5 9.3 8.7 4.3 -1.5 -5.3 MT1.8 41.8 0.1 -12.6 2.3 2.0 6.6 140.2 62.1 6.0 6.0 6.0 -1.0 -1.6 NL9.5 48.0 0.7 -11.5 3.7 -0.1 4.2 266.0 67.9 7.8 8.0 0.9 1.3 2.4 AT2.0 3.4 1.9 -15.9 7.9 1.4 0.9 124.8 84.0 5.6 -0.8 0.9 0.4 1.5 PL-3.0 -68.8 -1.0 1.1 2.6 1.3 4.9 79.0 51.4 10.1 1.7 2.5 0.2 -1.9 PT0.1 -123.8 -1.8 -7.5 -2.9 4.0 -6.8 190.1 132.9 16.1 -7.3 0.1 2.2 4.5 RO-2.0 -57.0 -1.0 20.9 9.4 -3.2 -2.3 62.0 39.2 8.8 1.2 1.7 -0.2 0.6 SI3.2 -38.4 1.2 -13.2 0.1 -6.2 -4.7 97.9 80.3 9.6 -0.1 0.7 1.6 4.6 SK1.3 -63.4 1.2 1.7 3.0 1.5 5.0 78.8 53.5 13.7 9.4 1.6b0.0 -3.8 FI-1.7 -3.1 2.7 -27.4 7.6 -1.6 1.7 148.8 64.5 8.3 9.4 0.6 0.2 0.2 SE5.0 -3.4 -3.7 -10.1 7.4 8.3 5.6 193.8 45.0 8.1 13.2 1.6 0.0 0.2 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. 1) For employment indicators, see page 2 of the AMR 2016. 2) Net 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 indicators¹2014External imbalances and competitiveness 
 
 
 
 
Table 1.10: MIP Scoreboard 2013  

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 (3 year % change)House price index, 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 pp+0.5 pp+2 ppEU1.6 -21.9e-2.5 -10.7 3.6 -2.8 0.9 143.5 86.8 10.9 -1.1 1.1 1.4 2.8   EAna-20.2 -2.0 na3.7 -3.1 0.8 144.9 93.0 11.3 -1.5 0.8 1.6 3.1 BE-0.4 43.2 -0.2 -13.2 7.4 0.1 8.5 162.8 105.5 7.8 1.2 -0.1 -0.2 1.5 BG0.3 -73.2 -0.9 -0.4 16.2 -0.8 2.6 130.1 17.0 13.2b1.1 1.7b2.7 6.4 CZ-1.4 -40.9 -3.1 -10.0 4.3 -0.7 4.3 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 25.4 -1.8 -13.2 6.0 1.7 2.7 114.9 78.3 5.2b-6.4 1.0b-0.9 -2.2 EE-0.1 -50.0 3.1 9.7 11.6 7.3 4.6 116.7 10.2 10.3 11.4 1.2 -3.7 -14.0 IE-1.2 -133.7 -3.8 -10.8 -1.7b0.0 -0.7 266.3 120.1 14.9 1.8 0.2 1.0 -1.4 EL-4.6 -131.0 -4.4 -26.8 -4.4 -9.3e-4.1 133.4 178.2 23.6 -17.5 -0.3 11.5 25.6 ES-0.2 -92.8 -0.3 -10.5 -5.1 -10.0 -10.2 178.1 100.5 24.1 -10.7 0.8 5.7 14.0 FR-0.8 -16.6 -2.2 -14.4 4.6 -2.5 2.1 137.4 93.4 9.8 0.5 0.8 0.5 1.7 HR0.3 -88.4 -3.9 -23.4 -4.9 -5.7 -0.6 114.5 80.0 15.7 2.6 -1.4 4.4 17.6 IT-0.6 -23.5 0.1 -20.6 2.9 -7.5 -2.8 122.0 132.5 10.6 -2.3 1.3 3.1 12.0 CY-2.5 -162.1 -0.8 -12.2 -0.7 -3.9 -12.1 340.2 103.7 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 40.3 14.4 5.7 1.1 -3.4 -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 7.0 9.9 3.4 26.4 296.8 22.4 5.3 10.1 1.7 0.5 1.3 HU1.9 -82.0 -3.8 -23.0 7.3 -4.2 -0.9 95.6 77.2 10.4 -1.2 2.7 -0.5 0.2 MT-0.8 25.9 -1.2 -0.9 9.3 -1.6 2.9 147.3 66.4 6.2 0.0 5.9 -0.6 -0.5 NL9.5 30.7 0.5 -11.6 4.8 -7.9 9.7 256.6 67.7 7.0 -1.6 1.5 1.2 1.8 AT1.7 1.3 0.7 -18.6 6.4 3.0 1.0 127.1 81.3 5.3 -3.2 1.1 0.1 0.2 PL-3.7 -68.8 -4.3 -2.6 3.5 -4.7 3.2 76.5 57.1 10.3 6.0 2.0b1.4 3.6 PT-2.0 -120.2 -0.6 -8.3 -3.8 -2.6 -2.3 201.6 131.4 15.8 -5.2 -0.3 3.4 10.3 RO-3.5 -63.6 0.5 13.9 0.9 -1.7 -1.5 67.2 37.8 8.9 0.8 0.5 0.9 1.6 SI1.3 -39.3 -0.6 -18.5 0.1 -7.2 -3.7 107.2 70.0 9.1 -10.1 -0.8 2.0 6.9 SK-0.7 -62.0 2.1 -4.3 3.4 -0.4 4.9 75.0 54.7 13.8b1.4 1.3 0.9 0.0 FI-1.8 3.0 0.2 -32.6 9.3 -1.3 3.0 147.0 60.6 8.1 -11.5 0.9 -0.4 -1.4 SE5.4 -15.9 5.1 -16.9 8.7 4.5 4.5 193.8 40.3 8.1 9.8 2.1 -0.2 -1.2 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. 1) For employment indicators, see page 2 of the AMR 2016. 2) Net 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)2013External 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, 2022 

25 

2022Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D(1 year % change) Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments(% of GDP)Direct investment liabilities - flows (% of GDP)Direct investment liabilities - 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)EU3.4 22.5 na0.2 -20.5e-1.8 64.5 -4.1 na-2.6 -4.3 2.5 1.4 1.8pna23.2 5.9 54.8p14.6pEA3.4 22.4 na0.6 -25.8 -2.3 74.5 -4.4 na-3.9 -5.0 2.3 1.1 1.8pna21.6 6.3 56.1p14.7pBE3.0p23.9p3.4p-0.8 28.8 2.0 153.6 -4.1p2.1 1.8 -4.3p0.0p0.9p1.5p-1.5 17.9 6.0p60.0p14.2pBG3.9 17.1 0.8p-0.5 44.4 3.6 68.4 -4.1 4.9 19.8 8.2 6.7 4.3 3.7p63.8 29.3b2.8 22.5 8.8pCZ2.4 26.8 2.0p-6.0 28.4 3.6 76.7 -4.7 13.7 -4.2 -1.9 2.3 0.8 1.4p12.8 51.7 4.3 32.6 13.0pDK2.7 21.7 na13.5 34.9 8.6 59.2 -1.0 -0.9 16.6 4.1 5.9 -1.0 1.5p-4.6 16.9 5.2 84.8 16.4pDE1.8p22.1p3.1p3.7 49.8 1.1 48.8 -3.4p0.3 -9.7 -5.9p-1.6p0.4p1.1p9.5 26.6 7.3p55.0p14.3pEE-0.5 27.5 na-2.9 28.7 4.7 118.3 -2.3 9.5 21.4 3.6 -1.9 -4.8 0.8p36.8 49.1 5.1 36.8 9.0pIE9.4 21.6 1.0e10.6 -234.0 -0.1 366.8 -2.2 -2.0 37.1 -1.3 9.0 2.6 1.7p-38.3 22.0 2.4 25.5 9.3pEL5.6p13.7pna-8.8 -120.7 3.6 25.2 -6.0p-3.1 16.9 -4.2p1.3p3.0p6.2p-23.0 24.9e1.6p45.2p15.0pES5.8p20.1pna1.5 -30.2 3.6 75.4 -3.9p-0.5 -4.3 -6.4p10.3p3.0p2.7p-4.3 13.8 5.7p52.3p16.0pFR2.5p25.2p2.1p-1.6 -33.4 3.8 51.6 -4.3p-3.6 -7.3 -2.6p2.2p-0.2p1.8p-2.5 18.9 7.1p66.2p16.0pHR6.3p19.6p1.4 -0.3 13.5 5.0 53.9 -9.0p-0.4 16.3 -7.0p22.1p3.9p3.0p-11.0 32.7 3.4p30.7p9.0pIT3.7 21.9 1.3p-0.9 1.6 3.0 31.3 -5.6 -1.4 -5.0 -9.5 5.0 2.0 2.9p-5.8 8.5 6.5 40.9 13.7pCY5.1p20.4pna-7.7 39.9 3.4 1509.8 -6.6p-2.5 25.3 -1.6p8.7p2.0p4.5p-18.0 -0.5 8.6p71.7p17.0pLV3.4 21.7 0.7 -4.0 16.9 2.9 61.0 -7.2 6.1 19.6 2.3 5.4 0.6 1.4p33.0 30.6 2.4 17.7 10.2pLT2.4 21.4 1.0 -4.0 21.2 0.9 48.3 -10.5 11.0 33.6 -11.3 7.3 -2.5 0.9p44.8 48.2 3.6 21.8 17.1pLU1.4 17.5 na7.9 -3753.7 -568.7 5083.0 -4.6 -0.2 3.0 0.7 -5.5 -1.9 1.2p17.4 42.9 3.7 66.8 15.2pHU4.6p28.2p1.4 -6.2 -5.3 -5.4 293.4 -9.9p-7.5 0.1 -7.2p7.7p3.0p3.1p20.0 49.5p4.7p18.6p11.4pMT6.9 25.3p0.7 -1.5 111.8 127.7 2679.8 -8.1 -3.9 6.5 0.5 1.9 0.7 2.3p11.7 15.9p4.3p55.7 12.6pNL4.3p20.9pna20.3 18.5 -1.7 516.2 -1.2p3.8 3.7 -2.7p-0.4p0.4p1.3p0.5 40.5 5.4p92.4p15.9pAT4.8 25.3 3.2p-0.2 -1.5 2.1 57.2 -4.4 0.7 -1.2 -4.5 6.3 2.1 1.8p5.1 34.9 5.6 48.7 11.1pPL5.3 16.8 1.5p-1.9 2.7 5.3 46.0 -3.4 0.5 21.0 -2.6 1.8 4.8p4.3p8.2 34.8 2.2 26.6 13.5pPT6.8p20.1p1.7p-0.2 -29.6 3.8 80.3 -4.8p-2.5 1.8 -3.0p12.5p5.2p3.0p4.4 34.0 3.9p60.7p12.3pRO4.6p24.9p0.5 -6.7 -4.2 3.8 42.2 -2.8p2.3 10.7 3.9p4.7p3.4p2.8p33.1 17.1 2.7p13.9p11.2pSI2.5 21.6 na-1.4 15.2 3.6 43.2 -3.8 -1.0 6.8 -4.0 2.3 -0.4 1.8p1.7 33.9 2.8 25.9 10.0pSK1.8 20.1 1.0 -6.2 -18.2 3.5 62.0 -6.6 4.7 -3.1 -5.9 -1.9 0.0 1.7p14.2 32.5 4.3 47.1 10.7pFI1.6 24.2 3.0 -2.5 6.3 4.8 51.0 -3.5 -2.7 1.7 1.1 -1.2 -1.3 1.0p-7.1 7.7 7.2 65.3 17.4pSE2.8 27.1 3.4 4.9 -9.8 9.0 95.6 -1.2 -1.1 0.9 -2.4 2.1 0.1 0.8p1.4 18.8 5.4 87.4 16.3pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: b = break in time series due to new data source for BG; e = estimate by NCB for EL.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
Table 2.1 (continued): Auxiliary indicators, 2022 

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 ppEU2.0 74.5 2.4 14.5 9.6 -0.9 21.6 0.5 16.5 0.0 6.7 0.0 8.3 0.3 EA2.3 74.5 2.7 14.6 9.5 -1.0 21.8 1.1 16.8 0.4 6.1 0.3 9.1 0.4 BE2.1p70.5 2.3 16.4 6.6 -2.0 18.7 -1.3b13.2 -1.6b5.8 -0.5 11.5 -1.3 BG-0.3 73.6 2.3 10.7 12.5 -1.1 32.2 -1.0 22.9 0.3 18.7 -3.4 8.6 -0.6 CZ1.5 77.2 0.6 6.8 8.0 2.3 11.8 -0.3 10.2 0.1 2.1 0.0 4.5 0.1 DK3.8 80.4 0.5 10.6 6.7 -1.0 17.1 -0.2 12.4 -0.1 3.2 -0.6 8.8 -0.7 DE1.4p79.4 1.0 6.0 6.8 0.4 20.9 3.6 14.7 -0.1 6.1 3.1 9.7 2.1 EE4.6 81.2 1.3 18.6 10.7 3.0 25.2 1.5 22.8 1.1 3.3 0.7 5.7 0.4 IE6.6 76.7 1.3 10.1 6.8 -3.3 20.7 0.3 14.0 0.9 5.8 -1.3 10.5 -3.3 EL2.5p69.4 7.7 31.4 10.6 -0.2 26.3 -2.7 18.8 0.9 13.9 -1.9 9.5 -3.2 ES2.7p74.0d5.0d29.8d10.5d-1.6d26.0 -0.2 20.4 -0.3 7.7 0.0 8.7 -2.2 FR2.6p73.6d2.0d17.3d10.1d-0.4d21.0b2.2b15.6b2.0b7.7b0.4b9.9b2.8bHR2.3 69.9 2.4 18.0 11.9 0.1 19.9 -0.9 18.0 -0.3 4.0 -0.6 6.3 -1.2 IT1.7 65.5 4.6 23.7 15.9 -3.1 24.4 -0.2 20.1 0.0 4.5 -1.9 9.8 0.2 CY3.0p78.2 2.3 18.6 12.9 -0.8 16.7 -1.9 13.9 -0.8 2.7 -0.5 4.1 -2.5 LV2.7 76.8 2.0 15.3 8.6 0.7 26.0 -0.7 22.5 -0.4 7.8 0.3 7.2 -0.2 LT5.1 78.6 2.3 11.9 9.7 1.1 24.6 -0.9 20.9 0.3 6.0 -3.7 8.3 0.7 LU3.4 73.5 1.3 17.6 6.7 1.1 19.4b-0.7b17.4b-0.1b2.0b0.6b3.5b-3.4bHU1.5p77.2 1.2 10.6 9.9 -0.6 18.4 -1.6 12.1 -0.2 9.1 -1.8 6.2 1.3 MT6.2 80.0 1.0 8.3 7.1 -1.5 20.1 -0.6 16.7 -0.4 4.9 -0.1 3.8 -1.1 NL3.9p84.7 0.7 7.6 2.8 -2.7 16.5 0.0 14.5 1.3 2.5 -0.3 8.4 -0.5 AT2.6 77.8 1.2 9.5 8.1 0.3 17.5 1.0 14.8 1.5 2.3 -0.4 5.7 -0.9 PL0.4p73.5 0.9 10.8 8.0 -0.2 15.9 -2.0 13.7 -1.7 2.8 -0.7 3.8 -1.2 PT1.5p76.4 2.7 19.0 6.6 -1.4 20.1 -1.0 16.4 -0.8 5.3 -0.3 5.6 -0.6 RO1.2p66.8 2.2 22.8 17.5 -0.9 34.4 -1.7 21.2 -2.6 24.3 -0.2 4.2 -0.3 SI2.9 76.2 1.6 10.1 8.2 1.9 13.3 -0.4 12.1 0.1 1.4 -0.8 3.8 -0.5 SK1.8 76.1 4.1 19.9 9.6 -0.8 16.5 1.7 13.7 1.8 6.3 0.4 3.8 -2.5 FI2.9 79.8 1.5 14.2 7.6 0.1 16.3b1.8b12.7 1.1 1.9 0.0 10.1b2.0bSE2.7 83.5 1.9 21.7 4.9 -0.4 18.6 0.2 16.0 -1.1 2.3 0.8 8.2 -0.1 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 and socially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-64Flags:b:Break in series. d:Definition differs. p:Provisional. 2022Employment(1 year % change)1)Employmentindicators:d=SpainandFrancehaveassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,butareexpectedtoreturntothesamejobonceCOVID-19healthmeasuresallowit.2)IncomeandLivingConditions:b=forFR,inclusionoffouroverseasdepartments(FrenchGuiana,Réunion,MartiniqueandGuadeloupe)intheSILCexercise;forLU,introductionofaCAPIcomponentforthenewlyselectedhouseholds; for FI, disruption of the registers’ use for the definition of persons permanently disable or/and unable to work.Source: European Commission, Eurostat 
 
 
 
 
 
 
Table 2.2: Auxiliary indicators, 2021 

27 

2021Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D(1 year % change) Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments(% of GDP)Direct investment liabilities - flows (% of GDP)Direct investment liabilities - 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)EU6.0 22.0 2.3e2.8 -26.0e0.0 69.8 -2.0 na2.8 -1.1 0.3 4.5 2.0ena19.9 5.8 58.1 14.6eEA5.9 21.9 2.3 3.2 -32.0 -0.4 80.3 -2.0 na1.6 -1.6 0.6 4.4 2.0ena18.5 6.1 58.6 14.7eBE6.9 23.9 3.4 1.5 36.0 4.9 168.9 -3.0 0.4 8.2 -1.2 3.0 4.8 1.6e-3.3 16.1 6.2 62.1 13.8eBG7.7 16.3 0.8 -1.0 47.4 2.9 78.1 -3.4 2.3 16.0 8.1 0.3 7.5 4.8e49.0 20.5 2.8 23.8 8.0eCZ3.6 26.0 2.0 -1.1 36.9 4.6 82.5 -2.5 4.6 2.5 0.8 -4.0 3.2 1.7e12.4 41.7 4.7 34.4 12.3eDK6.8 22.1 2.8p9.2 30.9 4.3 59.5 -0.5 -1.3 10.2 2.9 -3.2 4.4 1.8e-5.4 20.2 5.9 102.1 16.2eDE3.2p21.3p3.1 7.7 54.1 2.2 51.0 -1.9p0.6 -2.0 -1.9p-1.2p3.0p1.1e10.9 27.1 7.0p56.5p14.1eEE7.2 29.2 1.8 6.4 41.8 20.3 129.3 -0.3 1.4 23.7 2.7 11.2 7.1 1.1e26.3 30.5 4.9 38.4 9.4eIE15.1 22.3 1.1 14.0 -323.4 18.1 410.6 -1.2 -1.7 46.4 -3.5 4.2 8.6 2.4e-36.3 11.2 2.0 29.7 8.8eEL8.4p13.3p1.5 -4.6 -151.1 3.1 24.0 -3.1p-4.3 13.2 -5.2p13.3p7.1p8.6e-21.2 20.6e1.3p55.6p17.0eES6.4p20.1p1.4 1.6 -39.6 3.9 77.9 -2.2p-0.7 -8.4 0.1p2.6p4.0p2.9e-5.8 11.5 5.8p57.6p15.8eFR6.4p24.5p2.2 0.7 -39.3 3.2 51.3 -1.8p-0.5 -8.0 -0.8p0.1p3.5p1.9e-3.9 15.6 7.0p66.6p15.8eHR13.8 21.0 1.2 3.4 10.8 6.8 62.1 -3.8 -2.3 8.5 -2.0 21.8 12.4 4.2e-14.6 25.9 3.6 34.0 7.8eIT8.3 20.5 1.5 2.6 5.6 1.2 30.3 -2.6 -2.1 -2.7 -2.4 3.0 7.4 3.5e-5.8 4.5 5.9 42.5 14.3eCY9.9 19.5 0.8 -5.8 -2.2 22.2 1685.1 -4.3 -2.4 38.2 -1.8 10.7 6.5 5.6e-16.1 0.0 8.3 79.9 16.0eLV6.7 22.4 0.7 -2.6 19.4 9.5 67.6 -2.5 1.1 17.9 3.4 -1.9 9.5 2.1e27.2 25.0 2.8 19.5 10.3eLT6.3 21.7 1.1 2.6 22.1 4.5 55.2 -4.8 3.2 42.4 -4.0 6.1 5.0 1.2e31.9 33.0 3.1 23.4 15.7eLU7.2 18.2 1.0 8.9 -4598.7 -175.1 5786.3 -2.8 0.6 21.7 0.9 -0.6 4.2 0.6e13.0 43.6 4.0 66.6 15.2eHU7.1 27.2 1.6 -1.6 -1.2 17.4 323.4 -4.4 -4.4 1.4 -2.2 -2.6 5.8 3.2e14.2 43.0 3.9 21.1 10.9eMT12.3 20.3p0.7 2.2 114.5 26.3 2764.8 -5.9 -1.2 18.2 0.8 -3.4 9.2 3.0e13.6 15.3 4.5p58.5 12.6eNL6.2 21.2 2.3 12.2 21.4 -13.2 543.2 -1.2 2.4 7.6 -0.2 -2.9 4.1p1.4e1.2 32.8 5.5 98.9 16.3eAT4.2 25.8 3.3 1.6 -2.6 3.8 60.6 -2.4 1.1 0.3 -1.9 -1.8 2.2 1.8e7.3 28.1 5.4 52.2 11.8ePL6.9 16.8 1.4 -0.6 0.7 5.3 50.1 -2.0 -0.6 29.0 1.2 1.4 4.3 5.0e3.2 31.1 2.3 32.2 12.9ePT5.7 20.2 1.7 1.0 -36.3 3.3 85.9 -2.7 -3.0 -2.0 -0.2 1.4 3.7 3.6e1.4 30.9 3.9 66.3 12.0eRO5.7 24.3 0.5 -5.1 -6.5 4.1 46.3 -2.0 0.2 14.3 5.6 1.7 4.9 3.4e30.3 13.0 3.1 15.8 10.2eSI8.2 20.2 2.1 3.6 9.4 3.6 44.0 -2.8 -0.9 15.3 -1.5 3.6 6.8 2.1e2.4 24.5 2.4 26.3 9.6eSK4.8 19.2 0.9 -2.8 -14.4 2.3 66.7 -3.5 3.1 2.3 -2.6 -0.4 5.4 2.0e10.0 27.2 4.0 47.0 10.4eFI3.2 23.6 3.0 0.5 18.3 8.0 51.8 -1.9 -1.0 8.2 1.3 -5.1 1.0 1.2e-4.4 6.9 7.0 67.9 16.2eSE6.1 25.6 3.4 6.8 -3.0 8.4 98.2 -0.7 1.7 5.3 -0.4 0.2 4.9 1.0e4.1 17.6 5.3 91.9 16.4eFlags:e:Estimated. p:Provisional. 1) House price index: e = estimate by NCB for EL.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.2 (continued): Auxiliary indicators, 2021 

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 ppEU1.5 73.6 2.8 16.7 10.8 -0.1 21.7 0.0 16.8 0.0 6.3 -0.8 9.0 0.5 EA1.4 73.6 3.2 16.9 10.7 -0.3 22.0 0.6 17.0 0.0 5.7 -0.4 10.0 0.9 BE1.9 69.7 2.6 18.2 7.4b-1.1b18.8 -1.7 12.7 -3.7 6.3 -0.2 11.9 -1.2 BG0.2 72.0 2.6 15.8 14.0 -1.0 31.7 -1.3 22.1 0.1 19.1 -3.2 8.4 -0.6 CZ0.4 76.6 0.8 8.2 6.5 0.9 10.7 -1.1 8.6 -1.0 1.8 -0.6 5.4 0.9 DK2.4 79.6 1.0 10.8 7.1 -0.6 17.3 -0.2 12.3 -0.4 3.1 -0.4 9.7 -0.3 DE0.2p78.5 1.2 7.0 7.8 1.1 21.0 2.5 16.0 0.0 4.3 0.9 9.5 1.5 EE0.1 79.1 1.6 16.7 10.9 0.7 22.2 -1.4 20.6 -1.3 1.9 -1.2 5.1 -0.2 IE6.0 74.6 1.8 14.5 7.7 -2.4 20.0 -0.8 12.9 -2.0 5.1 -1.0 13.0 -0.2 EL1.2p67.3 9.2 35.5 11.0 -1.1 28.3 -2.0 19.6 1.1 13.9 -2.2 12.1 -1.5 ES2.3p73.7d6.2d34.8d11.0d-1.4d27.8 0.5 21.7 0.2 8.3 -0.4 11.6 0.8 FR2.8p73.0d2.3d18.9d10.6d-0.3d19.2 1.3 14.3 0.9 5.9 -0.8 10.8 3.3 HR1.2 68.7 2.8 21.9 12.7 -0.9 20.9 -1.2 19.2 -0.1 3.5 -2.6 7.5 -1.8 IT0.9 64.5 5.4 29.7 19.8 -0.5 25.2 -0.5 20.1 -0.2 5.9 -0.6 10.8 0.1 CY3.2 76.7 2.6 17.1 12.8 -0.4 17.3 -1.8 13.8 -1.6 2.6 -1.2 5.8 -2.3 LV-2.6 75.8 2.3 14.8 8.6 0.8 26.1 -2.3 23.4 0.1 5.3 -5.1 6.6 -0.7 LT1.2 78.2 2.6 14.3 11.3 3.3 23.5 -5.0 20.0 -2.9 6.4 -5.6 8.1 -1.1 LU2.9 73.2 1.8 16.9 8.7 3.4 21.1b1.0b18.1b1.4b2.4b0.8b5.5b-2.3bHU1.3 76.2 1.3 13.5 10.6 0.8 19.4 -1.2 12.6 -0.2 10.2 -1.7 5.4 -0.1 MT2.9 78.2 0.9 9.4 9.8 2.5 20.3 1.1 16.9 0.1 5.4 0.7 5.3 0.0 NL2.0p83.7 0.8 9.3 2.6 -2.9 16.6 0.1 14.4 1.1 2.1 -0.5 8.6 0.2 AT2.0 77.2 2.0 11.0 8.5 1.0 17.3 0.5 14.7 0.4 1.8 -1.0 7.4 1.0 PL2.5 72.8 0.9 11.9 11.2 2.4 16.8 -1.4 14.8 0.0 2.9 -1.6 4.2 -1.5 PT2.0 75.2 2.9 23.4 7.6 -0.8 22.4 0.8 18.4 1.1 6.0 -0.6 5.3 -1.6 RO0.8 65.6 2.0 21.0 18.0 -0.3 34.5 -4.2 22.5 -1.0 23.1 -5.2 3.5 -2.5 SI1.3 75.0 1.9 12.8 6.6 0.6 13.2 -2.2 11.7 -1.6 1.8 -1.4 3.6 -0.8 SK-0.6 74.6 3.9 20.6 11.0 0.7 15.6 0.4 12.3 0.1 5.7 0.3 4.9 -0.3 FI2.2 78.8 1.8 17.1 7.6 -0.3 14.2 -2.4 10.8 -1.2 1.1 -1.1 8.6 -2.5 SE1.2 82.9 2.0 24.7 5.1 -0.7b17.2 -0.5 15.7 -0.7 1.4 0.0 8.8 0.5 Severely materially and socially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-64Flags:b:Break in series. d:Definition differs. p:Provisional. 1)Employmentindicators:d=SpainandFrancehaveassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,butareexpectedtoreturntothesamejobonceCOVID-19healthmeasuresallowit.2)Youngpeopleneitherinemploymentnorineducationandtraining,BE:b=changesinthenationalquestionnaireregardingthevariablesontheparticipationineducationandtraining.3)IncomeandLivingConditions,LU:b=Introduction of a CAWI component for the newly selected households.Source: European Commission, Eurostat2021Employment(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 population 
 
 
 
 
 
 
Table 2.3: Auxiliary indicators, 2020 

29 

2020Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D(1 year % change) Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments(% of GDP)Direct investment liabilities - flows (% of GDP)Direct investment liabilities - 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)EU-5.6 22.1 2.3e2.0 -25.7e1.3 71.0 -1.2 na5.9 1.7 -1.0 -4.3 2.5ena16.1 5.4 60.5 14.7eEA-6.1 22.0 2.3e1.8 -31.0 1.2 82.2 -1.2 na4.2 1.5 -1.6 -4.7 2.5ena15.0 5.7 60.8 14.8eBE-5.3 24.1 3.4 1.4 36.6 -5.4 182.6 -1.7 0.4 9.3 1.0 1.2 -5.3 2.1e-0.7 11.5 6.1 65.3 14.2eBG-4.0 19.1 0.8 1.5 47.7 5.1 85.2 -2.0 3.0 15.7 12.8 -2.9 -1.7 5.9e45.9 18.2 2.9 24.3 7.9eCZ-5.5 26.5 2.0 3.2 37.3 3.4 83.2 -1.5 3.7 8.2 2.0 -0.5 -3.9 1.9e10.9 28.6 4.6 33.9 12.1eDK-2.4 22.2 3.0 8.1 32.4 -0.1 60.0 -0.3 -2.0 10.9 2.1 1.4 -1.6 1.9e-6.4 12.3 5.7 112.0 17.4eDE-3.8p21.5p3.1e6.8 54.8 4.1 51.8 -1.2p0.1 1.9 2.8p-1.8p-3.1p1.2e9.6 21.6 7.0p57.0p14.4eEE-1.0 29.8 1.8 0.0 42.0 11.8 111.8 -0.5 1.3 16.2 3.4 2.0 1.8 1.6e25.9 20.2 5.4 40.6 8.8eIE6.6 42.1 1.1 -9.7 -293.8 7.1 424.1 -0.7 -2.5 52.2 -2.2 19.0 9.7 3.4e-35.8 13.2 2.1 34.8 8.8eEL-9.3 12.1 1.5 -5.0 -155.4 1.8 22.3 -1.8 -3.2 -10.6 -3.1 -14.0 -6.9 26.5e-16.8 14.1e1.1 59.6 13.8eES-11.2 20.4 1.4 1.1 -52.2 3.0 79.0 -1.3 -1.2 -7.1 1.2 -12.6 -7.3 2.8e-7.5 14.8 5.9 62.6 15.8eFR-7.5 23.3 2.3 -1.5 -41.9 0.7 50.3 -1.1 0.6 -8.3 0.2 -9.4 -7.5 2.2e-3.9 11.9 6.4 68.2 16.2eHR-8.6 22.2 1.2 1.1 2.5 2.2 64.9 -2.0 -2.0 -1.1 1.6 -15.7 -7.5 5.3e-14.2 24.5 3.1 37.8 7.6eIT-9.0 18.0 1.5 3.9 0.4 -0.9 31.8 -1.3 -1.9 -2.8 5.7 -6.0 -7.0 4.5e-5.2 1.2 4.0 44.9 13.9eCY-3.4 21.1 0.8 -10.1 -110.4 -102.4 1839.9 -3.2 -3.0 39.0 -1.2 9.7 -2.2 11.0e-14.2 5.3 8.0 88.6 13.6eLV-3.5 22.4 0.7 4.6 14.5 2.7 59.1 -1.6 1.5 20.7 8.3 7.9 -1.2 4.6e24.7 23.5 2.6 20.4 10.0eLT0.0 21.4 1.1 9.0 15.1 8.0 55.8 -2.4 2.1 38.8 2.9 7.7 1.6 2.2e23.8 23.0 3.2 24.1 15.5eLU-0.9 16.7 1.1e8.5 -4063.1 -178.5 6350.3 -2.0 0.0 22.1 -0.3 8.1 -2.6 0.7e14.6 35.0 3.8 68.8 14.3eHU-4.5 26.5 1.6 1.1 -2.5 109.7 324.3 -2.3 -6.5 7.5 1.6 1.4 -3.4 3.6e13.4 40.3 4.1 20.8 10.8eMT-8.1 20.2p0.6 2.8 265.4 29.9 1570.7 -5.8 0.7 31.1 1.3 5.7 -10.6 3.6e24.7 16.1 4.5p61.0 10.7eNL-3.9 21.7 2.3 5.1 10.3 -22.1 568.9 -0.4 2.0 6.9 1.5 3.2 -3.5 1.9e2.7 26.4 5.4 103.8 16.7eAT-6.6 25.0 3.2e3.3 -4.1 -2.7 58.9 -1.4 1.5 5.2 -0.3 -3.1 -5.1 2.0e7.4 19.3 5.0 53.2 11.9ePL-2.0 18.3 1.4 4.2 -4.5 3.1 49.2 -1.6 -1.0 33.7 3.8 6.4 -2.0 6.0e3.6 28.0 2.2 34.6 10.5ePT-8.3 19.2 1.6 -0.1 -46.7 1.7 85.8 -1.7 -1.9 -1.5 2.5 -11.1 -6.6 4.9e-1.4 31.9 3.4 69.1 11.4eRO-3.7 23.5 0.5 -3.1 -7.0 1.4 45.9 -1.2 1.0 19.9 5.4 -2.0 -1.7 3.9e25.5 14.3 2.4 16.1 9.1eSI-4.2 18.9 2.1 6.7 1.4 0.9 43.0 -2.0 -0.1 19.7 1.4 -1.0 -3.6 3.0e-0.2 21.4 2.3 27.7 9.3eSK-3.3 19.5 0.9 1.3 -14.8 -1.0 70.0 -2.1 3.8 7.5 -2.1 1.2 -1.5 2.5e9.4 28.4 3.8 46.5 9.7eFI-2.4 24.0 2.9 0.6 5.8 -0.8 49.9 -0.9 -0.9 11.3 1.0 -0.3 -0.4 1.5e-5.5 3.1 7.0 69.0 16.0eSE-2.2 25.1 3.5 5.9 -12.6 3.5 92.6 -0.7 -7.4 3.2 -0.5 2.0 -0.8 1.0e5.8 5.8 4.9 93.7 17.6eFlags:e:Estimated. p:Provisional. 1) House price index: e = estimate by NCB for EL.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.3 (continued): Auxiliary indicators, 2020 

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 ppEU-1.3 72.4 2.5 17.6 11.4 0.0 21.6b-0.8b16.7b-0.2b6.8 -1.0 8.3 -0.8 EA-1.4 72.5 2.8 18.1 11.6 0.1 21.6 -0.2 16.8 -0.3 6.1 -0.2 9.1 -0.8 BE0.1 68.4 2.1 15.9 8.6 -0.1b20.3 -1.7 14.1 -1.8 6.7 -0.5 12.3 -2.2 BG-2.3 72.1 2.7 17.4 14.3 -0.9 33.5 -4.5 23.8 0.4 22.1 -7.9 8.4 -2.7 CZ-1.7 76.4 0.6 8.0 6.6 0.3 11.5 -0.6 9.5 0.4 1.9 -1.5 4.4 -1.3 DK-0.8 79.0 0.9 11.6 7.4 -0.2b16.8b-1.0b12.1b-0.3b3.5 -0.1 9.1 -1.4 DE-0.8p77.3b1.1b8.0b8.2b1.1b20.4b1.6b16.1b0.0b4.4b0.7b8.3b-0.4bEE-2.7 79.6 1.2 18.3 9.0 -0.6 22.8 -0.5 20.7 -0.3 2.3 -1.7 4.8 -0.6 IE-2.8 70.8 1.4 15.8 12.0 1.1 20.1b-2.3b13.8b-1.8b5.7b-1.2b11.5b-4.6bEL-2.6 65.3 10.5 38.0 11.3 -1.8 27.4 -4.8 17.7 -2.5 14.9 -3.4 11.8 -2.5 ES-4.2 72.2 5.0 38.3 13.9 0.6 27.0 -0.5 21.0 -0.6 8.5 0.2 10.0 -2.8 FR0.0 72.0 1.9 21.5 11.2 -0.1 19.3b1.5b14.2b1.0b7.0b0.7b9.7b2.0bHR-1.2 67.1 2.1 21.1 12.2 -3.2 20.5 -3.2 18.3 -1.7 4.4 -2.7 7.2 -3.4 IT-2.1 63.5 5.1 29.8 20.0 -1.1 24.9 -1.0 20.0 -0.3 6.2 -0.4 10.2 -0.6 CY-1.2 75.8 2.1 18.2 14.4 -1.7 17.6 -3.8 14.3 -1.4 3.2 -2.9 5.3 -3.4 LV-2.3 78.0 2.4 14.9 7.1 -3.2 25.1 -3.4 21.6 -0.5 7.0 -5.9 7.4 0.1 LT-1.6 78.5 2.5 19.6 10.8 1.7 24.5 -5.3 20.9 -2.0 8.1 -6.3 7.2 -2.2 LU1.8 72.2 1.7 23.2 6.5 0.6 19.9b0.6b17.4b1.0b1.7b-0.2b7.1b0.6bHU-1.2 75.1 1.1 12.5 11.0 0.6 19.4 -6.5 12.3 -1.1 10.7 -5.4 4.9 -1.4 MT2.8 77.1 1.1 10.9 9.3 0.7 19.9 0.5 16.9 0.2 5.1 0.8 5.4 -1.2 NL-0.4 83.4 0.7 10.6 5.8 0.5 16.0 -0.6 13.4 0.2 2.2 -0.4 8.7 -0.7 AT-1.6 76.4 1.7 11.7 8.6 1.5 16.7 -0.4 13.9 -0.5 3.0 -0.4 6.1 -1.1 PL0.0 70.1 0.6 10.9 8.8 -0.9 17.0 -1.7 14.8 -0.2 2.6 -2.7 4.3 -1.5 PT-1.8 73.8 2.3 22.5 9.1 -0.2 20.0 -3.4 16.2 -2.1 5.4 -2.6 5.0 -2.7 RO-2.1 64.1 1.8 21.6 18.4 -0.7 35.6 -6.9 23.4 -0.2 25.3 -7.1 4.7 -0.7 SI-0.7 73.8 1.9 14.3 6.9 0.9 14.3 -2.3 12.4 -0.9 2.6 -1.9 3.9 -1.3 SK-1.9 74.5 3.7 20.4 10.8 -1.4 13.8 -2.0 11.4 -1.0 4.5 -1.8 4.3 -1.0 FI-2.0 77.3 1.5 21.0 8.4 -0.2 14.9 -1.1 12.2 0.7 1.8 0.0 8.3 -3.1 SE-1.3 82.1 1.8 23.5 6.2 0.3 17.7 0.5 16.1 0.3 2.0 1.0 7.9 -0.3 People at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially and socially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-64Flags:b:Break in series. p:Provisional. 1)LabourForceSurveyindicators:DE,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.2)IncomeandLivingConditions:b=majorsubstantiveandmethodologicalchangesforDE;methodologicalrevisionsonincomevariablesforDK;increaseduse of administrative data for IE; change occurred in the duration of the panel for poverty longitudinal indicators (from 9 to 4 years) for FR; change from CAPI to CATI mode of data collection for LU. Source: European Commission, Eurostat2020Employment(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
Table 2.4: Auxiliary indicators, 2019 

31 

2019Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D(1 year % change) Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments(% of GDP)Direct investment liabilities - flows (% of GDP)Direct investment liabilities - 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)EU1.8 22.2 2.2e2.1 -24.4e0.3 68.8 -1.9 na2.3 2.2 2.1 0.7 2.6ena15.2 5.2 56.5 14.2eEA1.6 22.2 2.3 2.2 -28.6 -0.4 79.4 -1.9 na2.2 2.4 1.9 0.2 3.1ena14.1 5.5 56.6 13.7eBE2.2 24.3 3.2 0.2 36.0 -3.9 185.6 -2.5 1.1 -4.3 1.3 1.1 0.6 2.1e-0.2 10.9 6.1 60.5 13.4eBG4.0 18.6 0.8 3.3 40.2 3.2 81.2 -3.0 1.7 12.7 8.9 2.7 3.7 6.5e47.1 22.8 2.8 23.0 8.2eCZ3.0 27.1 1.9 0.8 30.2 4.3 77.1 -2.4 7.5 2.7 0.9 0.2 2.8 1.7e9.5 32.4 4.4 31.5 12.1eDK1.5 21.2 2.9p8.5 29.0 -1.0 56.5 -0.2 -2.5 -0.4 -0.7 3.2 0.1 1.9e-5.6 11.7 5.2 110.6 16.7eDE1.1p21.3p3.2 8.1 51.0 1.9 46.3 -1.8p0.3 -2.4 3.2p1.0p0.2p1.2e10.9 19.7 6.4p53.5p13.7eEE4.0 27.1 1.6 4.1 30.8 9.7 97.8 -1.3 4.4 -0.5 3.4 3.7 2.7 1.6e22.5 19.6 4.9 38.3 7.5eIE5.3 54.3 1.2 -29.8 -282.9 7.1 469.5 -1.2 -2.9 69.5 2.0 10.5 2.3 3.4e-34.5 25.1 2.2 38.7 7.4eEL1.9 10.7 1.3 -1.1 -133.5 2.4 23.8 -2.3 -2.1 1.1 1.9 3.6 -0.3 35.5e-18.8 8.1e0.8 55.8 10.9eES2.0 20.0 1.3 2.4 -46.0 1.8 68.3 -1.9 0.0 0.2 -0.4 0.9 -0.6 3.1e-11.2 19.2 5.8 56.8 13.5eFR1.8 23.5 2.2 0.6 -35.2 2.0 46.5 -1.8 -0.1 -2.8 2.6 0.3 0.6 2.5e-2.1 9.7 6.5 62.2 15.1eHR3.4 21.2 1.1 4.1 0.7 6.3 59.8 -2.8 0.5 19.4 3.7 5.5 0.3 5.2e-17.7 20.0 2.8 34.0 7.5eIT0.5 18.0 1.5 3.2 -1.0 1.8 28.9 -2.0 -1.7 -4.4 4.4 0.3 0.0 6.7e-2.8 -1.8 4.0 41.1 12.9eCY5.5 19.0 0.7 -5.7 -155.3 203.1 1879.8 -3.9 -2.5 22.7 2.6 7.4 1.7 18.1e-12.1 7.9 7.6 86.2 12.8eLV0.6 22.0 0.6 0.9 6.2 3.3 56.3 -2.7 2.8 1.2 6.9 0.0 0.7 3.9e15.8 29.9 2.6 20.2 9.8eLT4.7 21.5 1.0 5.2 5.5 6.2 48.1 -3.6 3.4 14.0 3.7 8.8 4.1 1.7e16.9 24.9 3.0 23.0 14.5eLU2.9 18.1 1.2 8.7 -3971.1 -556.2 7011.6 -3.2 0.9 7.9 -1.9 4.7 -0.6 0.6e16.2 24.5 3.9 67.1 15.0eHU4.9 27.0 1.5 1.1 -2.6 60.8 209.9 -3.8 -0.6 2.8 0.3 4.1 3.7 4.2e11.6 50.1 3.2 18.5 9.5eMT7.1 19.8 0.6 9.8 231.4 27.3 1404.9 -5.9 0.0 31.0 2.6 8.4 1.3 3.2e15.9 18.2 4.4 55.0 11.2eNL2.0 21.3 2.2 6.9 -1.6 -2.1 596.8 -0.9 0.9 -2.3 1.9 0.7 -0.3 1.8e-2.0 26.3 5.1 99.7 16.1eAT1.5 24.9 3.1 2.4 -0.6 -2.9 58.1 -2.2 1.1 -0.9 0.4 2.8 0.4 2.2e5.7 16.6 4.7 49.7 11.2ePL4.4 18.9 1.3 1.4 -10.7 2.9 47.6 -2.4 1.6 19.5 3.7 4.0 4.5 6.1e5.9 20.3 2.1 34.4 9.7ePT2.7 18.1 1.4 1.3 -46.7 4.3 81.1 -2.5 -1.6 6.1 4.3 2.8 1.9 6.1e-4.9 32.4 3.2 63.5 10.8eRO3.9 23.0 0.5 -3.6 -4.0 2.9 44.1 -1.7 -1.2 15.0 4.8 4.1 3.7 4.3e33.1 15.8 2.3 15.4 9.1eSI3.5 19.6 2.0 5.4 0.7 4.0 40.3 -3.5 0.4 13.4 2.0 3.2 1.1 3.4e-1.4 25.6 2.2 26.8 8.2eSK2.5 21.5 0.8 -2.6 -14.1 2.2 69.6 -3.1 1.9 -0.8 -2.0 -0.5 1.5 2.9e6.4 24.1 3.3 43.5 9.6eFI1.2 23.8 2.8 -0.2 6.9 5.8 51.0 -1.7 -1.7 1.0 2.5 5.4 -0.2 1.4e-2.7 2.4 7.0 65.8 16.6eSE2.0 24.4 3.4 5.4 -11.0 3.1 89.7 -1.1 -9.8 -4.9 -0.8 4.7 1.4 1.1e5.2 8.3 4.7 88.5 17.9eFlags:e:Estimated. p:Provisional. 1) House price index: e = estimate by NCB for EL.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.4 (continued): Auxiliary indicators, 2019 

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 ppEU1.1 73.2 2.7 15.6 10.5 -1.6 21.1 -2.6 16.5 -1.0 6.7 -2.3 8.0 -2.0 EA1.3 73.6 3.1 16.3 10.5 -1.6 20.7 -2.1 16.4 -1.0 5.8 -1.6 8.7 -2.1 BE1.6 69.1 2.1 14.5 8.6 -0.6 20.0b-2.2b14.8b-0.7b6.3 -2.1 12.8 -2.4 BG0.3 73.1 2.9 12.1 13.6 -4.4 33.2 -7.8b22.6 -0.3b22.1 -11.4 9.2 -2.3 CZ0.2 76.7 0.6 5.6 5.7 -1.3 12.1 -0.3 10.1 0.4 2.1 -1.4 4.4 -2.3 DK1.4 79.1 0.8 10.1 7.7 1.0b17.3 -0.2 12.5 0.6 3.8 1.2 9.5 -1.6 DE0.9p78.0 1.2 6.2 6.4 -1.2 17.3 -2.5 14.8 -1.7 3.0 -1.7 7.6 -1.8 EE1.3 79.2 0.9 11.6 7.7 -1.5 23.7 0.6 21.7 0.0 2.6 0.4 5.3 -0.2 IE3.0 73.2 1.6 12.5 10.1 -2.5 20.4 -3.4 13.1 -3.7 7.1 -0.9 13.8 -4.0 EL2.2 68.5 11.3 37.5 10.8 -2.8 29.0 -3.6 17.9 -3.3 15.8 -2.6 12.7 -3.0 ES2.6 73.8 5.3 32.5 12.1 -2.5 26.2 -2.6 20.7 -1.6 7.7 -0.8 10.9 -4.0 FR1.2 72.6 2.3 20.7 10.5 -1.2 18.8 0.1 13.6 0.0 7.3 0.6 7.1 -0.7 HR3.1 66.5 2.4 16.6 11.8 -5.1 20.8 -2.7 18.3 -1.2 4.6 -2.7 7.5 -3.6 IT0.5 65.7 5.9 29.2 19.0 -1.9 24.6 -3.2 20.1 -0.5 6.4 -3.7 9.6 -2.5 CY3.8 76.0 2.1 16.6 13.7 -2.3 18.6 -4.0 14.7 -1.4 3.2 -3.4 6.6 -3.5 LV-0.1 77.3 2.7 12.7 7.9 -3.3 26.7 -1.5 22.9 1.1 7.5 -5.1 7.4 0.4 LT0.6 78.0 1.9 11.9 8.6 -0.8 25.5 -4.5 20.6 -1.3 9.7 -5.7 7.6 -2.6 LU3.5 72.0 1.3 17.0 5.6 0.2 20.1 1.0b17.5 1.7b1.4 -0.6 6.9 0.4 HU1.1 74.7 1.1 11.2 10.5 0.0 20.0 -8.6 12.3 -2.2 10.9 -9.7 4.9 -2.8 MT5.7 75.9 0.9 9.3 8.6 -0.2 20.7 0.5 17.1 0.6 5.0 -0.2 4.9 -1.9 NL2.3 83.4 0.9 8.5 5.5 -0.4 16.5 0.2b13.2 0.5b2.8 0.2 8.9 -0.6 AT1.1 77.3 1.4 9.1 7.8 -0.6 16.5 -0.7 13.3 -0.8 2.7 -0.6 6.6 -0.4 PL0.0 69.9 0.7 9.9 8.2 -2.6 17.9 -2.7 15.4 -1.9 3.5 -1.9 5.0 -1.6 PT0.8 74.9 2.8 18.3 8.0 -2.6 21.1 -3.8 17.2 -1.8 5.6 -3.5 6.2 -2.3 RO0.1 63.3 2.0 21.0 18.4 -2.9 36.1 -9.9 23.8 -1.5 24.5 -11.4 4.5 -1.9 SI2.4 74.6 1.9 8.1 6.3 -1.1 13.7 -3.2 12.0 -1.9 2.2 -1.9 4.3 -1.7 SK1.0 74.7 3.9 17.1 10.4 -2.0 14.8 -2.3 11.9 -0.8 5.9 -1.7 6.3 -0.1 FI1.5 77.3 1.5 17.7 7.5 -1.6 14.5b-2.0b11.6 0.0 1.9 0.7 8.1b-4.0bSE0.6 82.5 1.5 19.4 5.3 -1.0 18.4 0.7 17.1 0.9 1.5 0.8 8.3 0.5 Flags:b:Break in series. p:Provisional. 1) Income and Living Conditions indicators: b = major substantive and methodological changes for BE.Source: European Commission, EurostatPeople living in households with very low work intensity -% of total population aged 0-642019Employment(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 and socially deprived people -% of total population 
 
 
 
 
 
 
Table 2.5: Auxiliary indicators, 2018 

33 

2018Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D(1 year % change) Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments(% of GDP)Direct investment liabilities - flows (% of GDP)Direct investment liabilities - 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)EU2.1 21.2 2.2e2.3 -26.2e-2.9 68.6 -2.1 na3.4 2.6 -0.1 0.6 3.1ena14.7 5.1 56.5 14.1eEA1.8 21.0 2.2e2.5 -30.2 -3.6 78.7 -2.1 na4.3 2.7 -0.2 0.1 3.6ena13.7 5.4 56.5 13.8eBE1.8 23.6 2.9 -0.8 34.4 -7.7 187.5 -3.4 2.8 -3.7 0.9 -2.7 0.3 2.3e-1.1 9.4 5.9 59.2 13.1eBG2.7 18.8 0.8 2.0 36.4 2.7 84.6 -3.4 -1.1 10.3 7.5 -2.1 2.8 7.7e52.7 24.0 2.7 23.0 7.5eCZ3.2 26.3 1.9 0.7 27.8 3.4 78.9 -2.9 7.6 8.3 1.9 -0.1 1.9 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 -2.5 1.0 -0.4 0.5 2.3e-5.2 14.8 4.8 111.9 16.4eDE1.0 21.1 3.1 8.0 45.7 4.2 45.6 -2.0 0.4 0.7 3.8 -1.6 -0.4 1.4e12.2 21.7 6.3 52.6 13.9eEE3.8 27.1 1.4 2.3 24.5 4.0 93.8 -1.0 4.1 -2.5 4.3 -0.9 2.8 1.3e17.2 17.1 4.5 38.5 6.9eIE8.5 28.4 1.1e-10.7 -249.2 18.9 485.6 -1.4 -3.0 74.1 -0.5 6.0 5.5 5.5e-39.0 31.3 2.4 42.8 6.7eEL1.7 11.1 1.2 -2.7 -135.1 1.9 19.4 -2.5 -1.5 3.8 4.3 5.3 -2.8 41.6e-15.1 -1.6e0.7 58.6 11.5eES2.3 19.4 1.2 2.4 -52.1 4.0 67.6 -2.1 -0.2 1.8 -1.0 -2.1 0.1 3.7e-15.6 18.6 5.4 58.9 13.6eFR1.9 22.9 2.2 -0.7 -34.1 2.8 44.6 -1.9 -0.1 -1.9 2.9 0.7 0.9 2.7e0.1 7.3 6.3 60.4 15.3eHR2.8 20.0 1.0 2.9 -12.2 2.0 55.2 -3.1 1.2 19.1 3.3 -0.2 0.2 7.3e-14.2 11.1 2.6 33.6 7.5eIT0.9 17.8 1.4 2.6 -6.2 2.1 27.6 -2.3 -1.3 -2.6 6.2 -1.7 0.0 8.4e-2.1 -1.4 4.1 40.8 13.1eCY5.6 18.8 0.6 -3.4 -180.9 -2.6 1817.1 -4.1 -3.2 18.9 2.6 3.4 0.3 20.2e-10.2 4.3 6.5 95.8 14.1eLV4.0 22.1 0.6 1.6 1.0 1.3 55.8 -3.4 1.3 5.7 5.0 0.6 2.5 5.3e-2.9 29.3 2.5 21.0 7.8eLT4.0 20.9 0.9 1.8 -2.5 2.4 42.8 -4.0 3.0 0.5 3.7 3.0 2.6 2.6e7.5 23.2 2.7 22.6 10.4eLU1.2 16.2 1.2 9.3 -3533.7 -830.1 7650.3 -3.3 0.4 9.1 -0.4 -0.2 -2.3 0.8e16.5 19.9 3.8 65.7 14.6eHU5.4 24.7 1.5b2.5 -3.9 -42.3 161.2 -3.8 -1.0 5.6 0.6 1.2 3.0 5.4e7.2 45.5 3.0 17.7 9.4eMT7.4 19.3 0.6 7.2 229.1 29.1 1469.2 -8.6 0.3 16.1 3.1 4.6 1.3 3.1e14.0 17.5 4.2 46.6 12.2eNL2.4 20.4 2.1 9.3 -16.9 -37.4 603.6 -1.4 -0.8 -0.9 1.3 0.5 -0.4 1.9e-2.2 23.6 4.9 103.4 16.1eAT2.4 24.1 3.1e0.3 -6.2 -6.6 61.4 -2.5 1.6 0.3 2.0 1.4 0.7 2.6e5.8 19.6 4.5 49.7 11.4ePL5.9 18.7 1.2 -0.3 -14.9 3.2 48.4 -2.7 -3.0 19.3 4.4 3.0 5.4 6.2e0.5 12.7 2.0 35.0 9.3ePT2.8 17.5 1.4 1.5 -55.3 3.2 79.6 -2.5 -0.3 5.9 4.5 0.3 0.5 9.4e-6.3 29.0 3.1 66.0 11.0eRO6.0 21.4 0.5 -3.4 -3.9 3.0 43.3 -1.6 -4.1 20.5 5.2 1.5 5.9 5.0e19.3 18.6 2.1 15.7 9.3eSI4.5 19.3 1.9 5.4 -1.0 2.8 39.2 -2.9 -0.5 16.6 2.5 2.4 1.2 6.0e0.0 21.6 2.1 26.9 8.2eSK4.0 20.9 0.8 -1.2 -16.6 2.1 70.7 -3.9 -0.4 -0.4 -1.7 1.3 2.0 3.2e4.9 21.3 3.3 42.2 9.5eFI1.1 24.1 2.8 -1.8 -0.8 -3.9 46.6 -2.0 -1.4 -6.4 3.8 -2.3 -1.3 1.5e1.4 3.3 7.2 65.2 16.1eSE2.0 25.2 3.3 2.5 -14.9 -0.2 85.8 -1.3 -7.6 -9.0 -1.1 0.4 0.3 1.0e5.9 14.4 5.2 88.1 18.1eFlags:b:Break in series. e:Estimated. 1) House price index: e = estimate by NCB for EL.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.5 (continued): Auxiliary indicators, 2018 

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 ppEU1.5 72.8 3.1 16.7 10.9 -1.8 21.7 -2.3 16.8 -0.6 7.1 -2.6 8.5 -1.6 EA1.6 73.3 3.6 17.5 11.0 -1.6 21.4 -1.6 17.0 -0.3 6.1 -1.8 9.1 -1.8 BE1.5 68.6 2.6 16.0 8.5 -2.9 20.5 -1.1 16.4 1.5 6.5 -0.7 13.1 -1.9 BG-0.1 71.4 3.6 15.9 15.0 -4.1 33.0 -10.3 22.0 0.0 22.3 -14.5 9.0 -2.5 CZ1.3 76.6 0.7 6.7 5.6 -1.9 11.8 -1.2 9.6 -0.1 2.4 -2.1 4.5 -2.3 DK1.5 78.2 1.0 10.5 7.7 0.7 17.5 -1.1 12.7 0.5 3.5 0.3 10.0 -1.9 DE1.4 77.5 1.4 6.6 6.7 -0.3 18.5 -1.5 16.0 -0.7 3.4 -2.3 8.0 -1.5 EE0.9 79.3 1.3 12.0 10.2 -1.1 23.6 0.0 21.9 0.3 3.1 -0.4 5.3 -0.9 IE2.8 72.8 2.1 13.8 10.1 -4.1 20.8 -4.6 14.9 -1.3 6.1 -3.3 13.2 -5.6 EL4.6 68.1 12.5 41.2 12.1 -2.6 30.3 -2.1 18.5 -2.9 16.1 -1.5 13.6 -1.7 ES2.2 73.7 6.4 34.3 12.4 -3.2 27.3 -1.4 21.5 -0.6 8.7 1.3 10.8 -4.6 FR1.0 72.8 2.5 22.0 10.9 -0.9 17.9 -0.5 13.4 -0.2 6.7 -0.1 7.5 -0.8 HR2.6 66.3 3.4 23.7 13.6 -4.5 22.1 -2.3 19.3 -0.7 6.1 -2.3 9.3 -3.0 IT0.9 65.6 6.5 32.2 20.3 -2.2 25.7 -2.7 20.3 0.4 6.5 -5.6 10.7 -0.5 CY5.3 75.0 2.7 20.2 13.2 -2.1 19.1 -3.7 15.4 -0.8 3.8 -4.1 8.1 -2.3 LV1.5 77.6 3.4 12.2 7.8 -2.7 28.4 -1.6 23.3 0.8 10.4 -5.0 7.3 -0.4 LT1.4 77.3 2.0 11.1 8.0 -1.2 28.5 -0.9 22.9 0.7 12.0 -2.6 9.2 0.1 LU3.6 71.1 1.4 14.2 5.3 -0.9b20.1 1.7 16.7 1.4 1.6 -0.9 7.8 2.4 HU2.3 74.1 1.4 9.9 9.8 -1.4 20.6 -10.0 12.8 -2.1 11.9 -12.2 5.5 -3.3 MT6.0 74.7 1.8 9.1 7.3 -3.2 19.2 -3.0 16.8 0.2 4.7 -3.5 5.3 -3.9 NL2.7 82.7 1.2 8.9 5.5 -0.5 16.5 0.1 13.3 1.7 2.6 -0.6 8.4 -1.6 AT1.7 77.1 1.7 10.0 7.5 -0.7 16.8 -0.1 14.3 0.4 2.8 -0.1 6.4 0.1 PL0.5 69.4 1.0 11.8 8.8 -2.4 18.2 -4.3 14.8 -2.8 4.5 -3.3 5.7 -1.2 PT2.3 74.5 3.2 20.3 8.4 -2.9 21.6 -4.8 17.3 -2.2 6.6 -4.3 6.9 -3.3 RO0.1 62.4 2.2 20.5 18.3 -4.5 38.7 -5.8 23.5 -1.9 28.3 -5.7 6.0 -0.2 SI3.2 74.4 2.2 8.9 6.0 -2.7 15.4 -2.3 13.3 -1.0 3.2 -1.6 4.4 -1.4 SK2.0 74.4 4.7 15.8 10.3 -3.7 15.2 -2.1 12.2 -0.1 5.4 -3.0 5.2 -1.8 FI2.5 77.0 2.0 17.3 7.9 -1.8 16.6 -0.3 12.0 -0.4 2.2 1.2 11.1 -0.4 SE1.6 82.3b1.7b16.8b5.8b-0.7b17.7 -0.5 16.4 0.1 1.4 0.3 8.3 0.5 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 and socially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-64Flags:b:Break in series. 1) Labour Force Survey indicators, SE: b = following the detection of quality deficiencies, only half of the sample used. Source: European Commission, Eurostat2018 
 
 
 
 
 
 
Table 2.6: Auxiliary indicators, 2017 

35 

2017Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D(1 year % change) Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments(% of GDP)Direct investment liabilities - flows (% of GDP)Direct investment liabilities - 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)EU2.8 20.8 2.2 2.8 -28.0e2.1 72.6 -1.7 na5.6 4.2 0.3 1.2 4.0ena11.7 5.0 56.9 14.0eEA2.6 20.6 2.2 2.9 -31.9 2.5 82.9 -1.7 nana4.3 0.1 1.0 4.7ena10.2 5.2 56.8 13.7eBE1.6 23.3 2.7 0.8 44.7 -7.2 201.4 -2.5 2.6 -1.3 2.1 0.0 0.1 2.7e1.0 8.2 5.7 58.9 13.2eBG2.7 18.3 0.7 4.3 32.9 3.3 86.5 -3.0 -3.2 16.6 5.7 0.2 0.9 10.2e58.4 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 5.2 3.0 1.7 3.6 2.8e1.4 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 -1.4 2.8 -0.7 1.3 2.5e-2.5 17.7 4.6 113.8 16.4eDE2.7 20.4 3.0 7.8 45.4 3.0 43.8 -1.7 0.8 2.6 5.7 -0.6 1.3 1.8e8.6 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 -1.2 4.1 -0.7 3.0 1.9e24.2 18.1 4.6 39.4 6.8eIE9.3 33.0 1.2 -8.2 -263.2 19.1 476.6 -1.2 -2.2 66.0 -0.1 4.1 6.3 9.9e-33.3 32.8 2.1 46.6 6.6eEL1.1 11.8 1.2 -1.4 -128.9 1.7 18.0 -1.8 -1.9 -3.5 8.3 3.0 1.6 45.0e-11.0 -8.3e0.6 58.1 8.8eES3.0 18.7 1.2 3.0 -57.4 2.5 64.8 -1.8 -1.1 6.4 1.0 0.0 0.3 4.4e-13.0 15.1 4.8 61.1 13.5eFR2.3 22.5 2.2 -0.8 -33.7 1.4 44.4 -1.7 -0.7 -0.5 5.3 -1.1 1.1 3.1e0.5 2.8 6.3 58.4 15.2eHR3.4 19.6 0.8 4.2 -18.5 0.9 56.6 -2.8 0.6 19.4 2.4 1.4 0.9 8.8e-14.8 1.7 2.4 33.6 7.4eIT1.7 17.5 1.4 2.7 -5.9 0.6 26.2 -1.9 -0.8 -2.3 8.6 -0.1 0.5 11.2e-1.7 -4.6 4.0 40.8 12.2eCY5.7 20.8 0.5 -4.6 -218.9 62.8 1990.4 -4.0 -3.9 17.6 3.2 5.5 0.3 30.7e-10.4 1.0 5.0 105.0 12.1eLV3.3 20.6 0.5 2.2 -2.7 3.8 59.6 -2.9 0.7 4.2 3.8 0.9 3.3 5.6e8.5 14.0 2.1 22.3 8.9eLT4.3 20.1 0.9 1.7 -7.4 2.8 44.2 -3.0 1.4 0.6 4.9 8.0 5.0 3.2e8.5 19.0 2.7 22.4 10.7eLU1.3 17.8 1.2 4.1 -3726.1 -20.6 8610.3 -2.7 -0.1 20.0 -0.2 -5.7 -2.1 0.7e17.2 18.0 3.6 62.5 13.2eHU4.3 22.1 1.3 2.8 -8.7 -8.2 208.5 -3.7 0.4 7.1 2.1 1.0 2.3 8.4e7.4 43.9 2.7 18.6 9.7eMT10.9 19.9 0.6 6.5 226.8 28.7 1532.6 -6.1 1.2 20.5 3.8 4.9 2.7 3.1e7.2 17.5 3.6 47.3 13.5eNL2.9 20.1 2.2 8.9 -18.9 28.0 640.8 -0.7 -0.7 -1.7 1.8 1.0 0.5 2.1e-2.5 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 -0.7 2.5 -0.6 0.6 3.5e6.1 19.9 4.5 50.3 11.6ePL5.1 17.6 1.0 0.0 -18.8 2.2 49.8 -2.0 -3.2 20.0 6.4 3.5 3.8 6.6e4.8 7.4 2.2 35.0 8.8ePT3.5 16.8 1.3 2.2 -58.4 4.9 83.0 -2.2 0.8 10.6 6.9 2.9 0.2 13.3e-8.9 20.6 2.8 69.2 10.6eRO8.2 22.8 0.5 -1.9 -5.6 2.8 44.8 -1.3 -5.2 34.0 5.1 2.3 5.7 6.6e35.7 15.6 2.7 16.3 9.6eSI4.8 18.3 1.9 5.5 -9.6 2.5 37.9 -2.6 -1.6 14.4 3.4 5.6 1.9 9.2e2.2 12.7 2.1 27.1 8.0eSK2.9 21.1 0.9 -1.8 -15.1 4.4 71.3 -2.9 -1.7 1.9 -1.6 -1.8 0.7 3.7e3.9 19.0 3.1 40.9 9.3eFI3.2 23.3 2.7 -0.7 4.8 6.9 56.8 -1.6 -1.2 -8.0 3.8 3.3 2.1 1.2e2.8 2.4 6.8 64.4 18.9eSE2.6 25.1 3.4 2.7 -9.5 4.5 88.1 -0.9 -4.0 -8.4 0.4 -1.4 0.1 1.3e5.9 30.6 5.7 87.2 16.5eFlags:e:Estimated. 1) House price index: e = estimate by NCB for EL.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 2.6 (continued): Auxiliary indicators, 2017 

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 ppEU1.6 72.4 3.7 18.5 11.4 -1.6 22.4 na16.9 -0.4 7.8 na9.1 naEA1.6 73.0 4.2 19.4 11.5 -1.5 21.8 na17.1 -0.1 6.3 na9.9 naBE1.6 68.0b3.1b19.4b8.7b-2.5b22.0 na15.9 0.4 7.2 na14.5 naBG1.8 71.2 3.9 16.1 15.2 -4.8 38.0 na23.4 1.6 30.0 na11.1 naCZ1.5 75.9 1.0 7.9 6.3 -1.8 12.1 na9.1 -0.6 3.4 na5.7 naDK1.5 77.9b1.2b12.4b7.6b1.2b17.8 na12.4 0.3 3.6 na10.5 naDE1.4 77.0 1.5 7.2 7.1 -0.1 18.8 na16.1 -0.6 3.7 na8.7 naEE2.7 79.2 2.0 12.1 9.6 -1.9 23.3 na21.0 -0.8 4.0 na5.4 naIE2.8 72.6 3.0 14.4 10.9 -4.3 22.4 na15.6 -1.2 6.9 na16.1 naEL-0.5 68.2 14.3 44.5 13.1 -3.3 32.2 na20.2 -1.9 18.3 na14.3 naES2.6 73.9 7.7 38.6 13.3 -3.8 27.5 na21.6 -0.6 8.3 na12.8 naFR1.1 72.4 2.9 23.5 11.3 0.2 17.8 na13.2 -0.1 6.3 na7.7 naHR2.4 66.4 4.6 27.4 15.4 -3.9 23.7 na20.0 0.6 7.1 na10.6 naIT1.2 65.3 6.9 34.6 21.1 -2.1 25.9 na20.3 0.9 6.6 na10.8 naCY5.4 73.9 4.5 24.7 16.1 -0.9 21.4 na15.7 1.3 6.1 na8.7 naLV0.0 76.9 3.6 17.0 10.3 -1.7 28.5 na22.1 0.9 12.9 na7.3 naLT-0.7 75.9 2.7 13.3 9.1 -0.8 29.8 na22.9 3.8 14.4 na9.4 naLU3.5 70.2 2.1 15.4 5.9 -0.4 19.3 na16.4 0.0 1.9 na6.5 naHU1.9 73.1 1.6 10.5 10.4 -2.8 25.9 na13.4 -1.6 16.1 na6.3 naMT8.0 72.2 2.0 10.6 8.6 -1.7 19.4 na16.7 0.9 4.3 na6.6 naNL2.4 82.2 1.7 10.4 5.3 -1.6 16.6 na13.2 1.6 2.6 na9.4 naAT1.6 76.8 2.3 10.5 7.1 -1.3 17.1 na14.4 0.3 3.4 na7.2 naPL1.3 68.7 1.5 14.9 9.7 -2.5 18.7 na15.0 -2.0 5.3 na5.8 naPT3.3 73.8 4.6 23.9 9.3 -3.0 23.4 na18.3 -1.2 8.0 na7.7 naRO2.4 61.8 2.4 23.0 19.1 -2.3 42.5 na23.6 -1.5 32.4 na5.4 naSI2.9 73.6 3.1 11.3 6.0 -2.6 16.6 na13.3 -1.2 4.5 na5.2 naSK2.2 74.1 5.9 20.0 12.2 -0.8 15.8 na12.4 -0.2 6.3 na5.3 naFI1.0 75.8 2.6 20.0 8.6 -0.6 16.0 na11.5 -1.3 1.8 na11.4 naSE2.5 82.1 2.0 17.2 5.9 -1.0 17.2 na15.8 0.2 1.0 na8.2 naSeverely materially and socially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-64Flags:b:Break in series. 1) Labour Fource Survey indicators: b = change in the survey methodology for BE; improvement in the data collection and introduction of CAWI (computer-assisted web interviewing) technique for DK.Source: European Commission, Eurostat2017Employment(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 population 
 
 
 
 
 
 
Table 2.7: Auxiliary indicators, 2016 

37 

2016Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D(1 year % change) Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments(% of GDP)Direct investment liabilities - flows (% of GDP)Direct investment liabilities - 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)EU2.0 20.4 2.1e3.1 -34.0e3.1 74.8 -1.4 na3.3 4.5 1.2 0.7 5.2ena7.3 4.8 57.7b15.2eEA1.9 20.3 2.1e3.0 -34.5 2.8 86.2 -1.5 nana4.7 0.8 0.5 6.3ena5.8 5.0 57.4 15.2eBE1.3 23.3 2.5 0.7 52.2 12.2 221.9 -2.2 1.9 -7.1 2.6 3.9 0.0 3.2e0.2 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 7.0 3.1 6.3 2.5 12.8e56.7 11.6 2.7 22.6 7.7eCZ2.5 24.9 1.7 2.9 27.6 5.5 78.0 -2.0 -3.8 0.5 3.4 2.0 0.9 4.0e0.6 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 -5.0 3.4 1.8 1.5 3.3e1.7 16.8 4.2 116.4b16.7eDE2.2 20.3 2.9 8.7 38.3 1.9 42.9 -1.5 1.0 -0.1 6.4 0.2 1.0 2.6e5.5 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 -2.8 3.7 2.5 2.9 1.7e37.0 27.3 4.4 40.0 7.7eIE1.8 35.9 1.2 -5.8 -249.6 34.8 518.6 -1.1 -1.1 55.2 -0.3 2.3 -1.9 13.1e-28.3 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 -11.7 7.3 -2.7 -3.8 46.3e-9.1 -14.2e0.7 61.0 10.1eES3.0 18.0 1.2 3.4 -61.6 3.6 63.8 -1.5 -2.3 0.7 0.4 3.1 0.9 5.7e-10.5 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 -1.1 6.4 -0.5 0.5 3.6e0.6 -1.8 6.0 57.1 16.0eHR3.6 19.7 0.9 3.6 -27.4 0.8 56.0 -2.6 -1.1 7.0 1.5 4.7 3.3 10.7e-11.7 -3.6 2.6 34.6 7.2eIT1.3 17.2 1.4b2.5 -11.8 1.4 26.3 -1.5 -0.9 -6.1 8.6 -0.4 -0.1 15.0e0.0 -8.1 4.1 41.2 14.2eCY6.6 18.0 0.5 -4.1 -226.6 40.6 2060.4 -3.3 -3.5 5.6 3.9 4.9 1.8 35.4e-11.1 -2.9 4.4 115.7 10.7eLV2.4 19.3 0.4 2.7 -6.6 1.2 57.6 -2.4 -0.3 7.0 0.4 1.7 2.7 6.3e31.1 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 -3.5 4.0 2.6 0.2 4.0e6.3 16.3 3.0 22.8 11.6eLU5.0 17.3 1.3 4.4 -3550.5 92.9 9376.8 -2.3 -0.4 23.1 0.5 3.0 1.9 0.8e11.4 16.6 4.1 60.5 13.4eHU2.2 19.5 1.2 4.5 -12.0 55.2 257.1 -3.1 -5.3 -4.2 1.5 1.5 -1.5 11.9e8.0 33.6 2.4 20.1 9.9eMT3.4 22.7 0.6 -0.2 213.6 23.9 1650.6 -8.1 1.9 15.4 3.2 4.7 -1.1 4.1e8.0 14.4 3.6 50.3 15.8eNL2.2 20.0 2.2 6.9 -34.0 30.8 641.2 -0.6 -0.6 -5.1 2.0 -0.6 0.6 2.4e-1.2 9.7 4.1 109.6 17.7eAT2.0 23.1 3.1e2.6 -9.4 -7.5 65.0 -1.9 2.1 -5.0 3.2 0.7 0.7 5.1e6.0 17.8 4.3 51.1 12.5ePL3.0 18.5 1.0 0.0 -20.8 3.8 50.9 -1.4 -5.7 11.4 4.9 6.7 2.1 6.4e5.9 4.4 2.5 36.8 9.4ePT2.0 15.5 1.3 2.1 -64.2 3.6 80.2 -1.6 0.3 2.9 8.4 2.1 0.4 17.2e-10.9 15.1 2.6 72.6 12.9eRO2.9 23.1 0.5 0.9 -6.5 3.4 46.1 -1.0 -2.8 22.0 3.6 14.0 4.0 9.7e26.1 6.7 2.6 17.0 9.8eSI3.2 17.4 2.0 4.0 -14.7 3.2 37.1 -2.1 -1.7 1.2 2.9 3.9 1.3 12.3e3.0 -2.8 2.1 27.3 8.0eSK1.9 21.0 0.8 -1.0 -14.7 5.3 70.7 -2.5 -2.2 5.0 -2.3 2.7 -0.4 4.6e-0.6 14.0 3.1 38.2 9.2eFI2.8 22.7 2.7 -1.9 10.2 2.1 54.5 -1.4 0.3 -17.6 3.2 1.6 2.3 1.4e5.6 0.9 6.6 64.1 17.7eSE2.1 24.2 3.2e2.2 -12.1 2.9 85.3 -0.8 -7.9 -11.3 1.3 0.1 0.2 1.2e7.5 34.0 5.3 85.7 17.6eFlags:b:Break in series. e:Estimated. 1) House price index: e = estimate by NCB for EL.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.7 (continued): Auxiliary indicators, 2016 

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 ppEU1.3 71.9 4.3 20.7 12.1 -1.3 23.7 na17.5 0.7 9.0 na10.0 naEA1.4 72.7 4.8 21.5 12.1 -1.1 22.8 na17.4 na7.4 na10.8 naBE1.3 67.7 3.7 20.3 9.2 -2.6 22.2 na15.5 0.4 8.4 na15.2 naBG0.5 68.6 5.0 20.4 18.0 -3.3 41.0bna22.9b1.9b33.5 na11.5 naCZ1.6 75.0 1.7 10.5 7.0 -2.1 12.4 na9.7 1.1 3.5 na6.7 naDK1.7 77.5b1.2b12.2b6.7b0.1b17.5 na11.9 0.0 2.6 na11.1 naDE1.2 76.7 1.7 7.5 7.6 0.5 19.8 na16.5 0.4 4.7 na9.4 naEE0.3 77.9 2.2 14.0 9.2 -2.0 23.1 na21.7 3.1 2.2 na5.5 naIE3.7 72.6 4.2 16.8 12.6 -3.8 23.8 na16.8 1.1 8.0 na17.8 naEL3.4 68.2 15.4 48.2 13.6 -3.9 32.6 na21.2 -1.9 18.4 na15.7 naES2.1 74.2 9.5 44.4 14.6 -4.0 28.8 na22.3 1.9 8.5 na14.9 naFR0.6 72.3 3.1 26.0 11.7 1.0 18.7 na13.6 -0.1 6.7 na7.8 naHR0.2 65.6 6.6 31.3 16.9 -2.7 23.5 na19.5 0.0 7.3 na11.1 naIT1.4 64.8 7.1 37.7 20.9 -2.4 27.8 na20.6 1.3 10.1 na12.1 naCY4.7 73.4 5.8 29.1 16.0 -2.7 22.6 na16.1 0.8 6.6 na10.1 naLV-0.3 76.2 4.4 17.5 11.2 -1.8 28.2 na21.8 2.4 12.6 na7.0 naLT2.3 75.5 3.0 14.5 9.4 -1.7 30.0 na21.9 1.3 15.4 na10.2 naLU3.0 70.0 2.2 18.9 5.4 0.4 19.1bna15.8b-0.1b2.0 na6.5 naHU3.7 72.1 2.3 12.7 10.5 -4.5 28.6 na14.5 -0.5 20.6 na7.7 naMT4.5 70.6 2.4 10.7 8.8 -1.1 20.2 na16.5 0.7 5.2 na6.8 naNL1.5 82.2 2.3 12.1 5.9 -1.1 16.3bna12.7b2.3b2.6 na9.5 naAT1.3 76.6 2.4 12.0 8.4 0.4 17.2 na14.1 -0.3 3.3 na7.0 naPL0.8 67.8 2.2 17.8 10.8 -1.7 20.6 na17.3 0.0 5.4 na6.6 naPT1.6 72.7 6.4 28.0 10.6 -3.5 24.9 na19.0 0.3 9.1 na8.5 naRO-1.1 60.2 3.4 25.9 21.3 -0.1 46.0 na25.3 2.3 35.9 na6.4 naSI1.8 71.1 4.3 15.3 7.4 -1.1 16.9 na13.9 -0.6 4.1 na6.0 naSK2.4 73.9 6.8 23.4 12.4 -1.6 17.1 na12.7 -0.1 7.6 na6.4 naFI0.5 75.0 2.9 20.5 9.1 0.6 16.5 na11.6 -0.2 1.2 na12.1 naSE1.9 81.7 2.0 18.3 6.3 -0.9 17.7 na16.2 0.2 0.7 na7.8 naPeople at risk of poverty or social exclusion -% of total populationPeople at risk of poverty after social transfers -% of total populationSeverely materially and socially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-64Flags:b:Break in series. 1)LabourForceSurveyindicators:b=datacollectionimprovement,introductionofCAWI(computer-assistedwebinterviewing)techniqueforDK.2)IncomeandLivingConditionsindicators:b=forBG,theincreaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesize.Thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime;b=forLU,newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment.BettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister;b=forNL,introductionofCAWI,oversamplingoflowerincomegroups,useofregisterinformation for housing costs, changes in fieldwork period, weighting, calculation of imputed rent.Source: European Commission, Eurostat2016Employment(1 year % change)Activity rate - % of total population aged 15-64(%)Long-term unemployment rate - % of active population aged 15-74(%) Youth unemployment rate - % of active population aged 15-24(%)Young people neither in employment nor in education and training - % of total population aged 15-24 
 
 
 
 
 
 
Table 2.8: Auxiliary indicators, 2015 

39 

2015Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D(1 year % change) Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments(% of GDP)Direct investment liabilities - flows (% of GDP)Direct investment liabilities - 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)EU2.3 20.2 2.1 2.7 -36.9e7.6 72.2 -1.9 na3.0 1.4 3.4 1.3 6.8ena1.0 4.6 58.4 15.6eEA2.0 19.9 2.1 2.9 -37.2 8.0 83.4 -1.9 nana1.3 3.6 1.1 7.2ena-0.3 4.8 58.0 15.6eBE2.0 23.0 2.4 1.4 51.7 -4.3 225.3 -2.7 0.1 -11.8 0.3 0.6 1.2 3.8e2.2 2.3 5.7 57.9 14.7eBG3.4 20.9 0.9 3.1 21.4 4.4 92.6 -3.8 -4.1 15.4 3.6 3.3 3.0 14.5e56.4 2.0b1.4 23.2 7.7eCZ5.4 26.5 1.9 2.6 20.3 0.9 75.3 -2.4 -8.2 0.1 0.8 2.9 3.9 10.1e-0.9 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 -6.6 1.6 0.5 1.0 3.9e4.3 15.3 4.0 128.9 16.7eDE1.5 20.0 2.9 8.6 34.9 1.9 42.2 -2.0 1.1 -1.2 1.9 2.3 0.5 3.0e0.9 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 9.5 2.9 -4.6 -1.0 2.2e44.3 34.5 4.0 39.7 7.7eIE24.5 24.0 1.2 3.9 -242.6 81.8 496.3 -1.5 -1.5 40.7 1.9 36.1 20.3 14.9e-28.3 31.5 1.5 56.4 7.8eEL-0.2 10.8 1.0 0.3 -128.5 0.7 14.8 -2.2 -5.3 -12.2 4.5 1.9 2.8 46.8e-9.8 -21.7e0.8 62.5 11.0eES3.8 18.0 1.2 2.7 -64.8 1.9 61.1 -2.0 -1.4 -1.3 -3.6 1.2 1.0 6.3e-6.2 -5.6 4.0 68.0 13.7eFR1.1 21.5 2.2 -0.4 -29.7 1.8 43.9 -1.8 -0.6 -1.7 2.8 1.5 0.9 4.0e1.9 -4.7 5.9 56.1 17.3eHR2.5 19.2 0.8 4.0 -37.9 0.0 52.6 -3.3 -1.2 -3.9 0.5 7.1 1.2 13.0e-7.7 -8.2 2.6 37.7 8.0eIT0.8 16.9 1.3 1.8 -17.4 0.7 25.5 -2.0 -0.7 -7.9 2.5 1.2 0.1 16.5e2.4 -14.3 4.1 41.8 13.1eCY3.4 12.8 0.5 -0.4 -257.4 145.6 2124.7 -4.0 -2.6 -2.8 1.4 5.8 1.8 36.3e-7.1 -7.1b3.6 126.4 10.7eLV3.9 21.9 0.6 2.2 -10.4 3.0 59.1 -3.5 -2.2 15.6 0.5 -0.1 2.4 6.5e44.7 9.5 2.4 24.3 9.5eLT2.0 19.6 1.0 0.6 -13.5 2.5 42.9 -3.6 -1.5 8.6 1.4 -0.7 0.6 5.6e11.4 11.7 2.8 22.3 9.0eLU2.3 17.3 1.3 4.5 -3587.5 1106.8 9525.6 -2.9 0.1 20.2 1.3 2.0 -0.3 1.1e15.2 15.5 3.8 59.0 13.4eHU3.7 22.2 1.3 6.9 -18.3 -4.3 219.9 -4.1 -7.3 -7.5 -0.5 4.3 1.4 15.2e6.8 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 11.3 2.0 12.3 5.6 5.1e5.8 8.1 2.9 50.7 14.1eNL2.0 22.1 2.1 4.7 -53.4 43.5 615.5 -1.1 0.8 -4.8 -0.1 4.3 1.0 2.7e-1.6 -1.8 3.5 111.3 18.0eAT1.0 22.7 3.1 1.2 -11.3 -2.1 75.4 -2.3 2.1 -7.3 0.4 -0.1 0.4 6.5e6.4 14.2 4.3 50.8 13.5ePL4.4 20.4 1.0 1.3 -24.1 3.3 48.5 -1.6 -2.1 7.4 2.8 3.5 2.8 6.6e3.1 -2.0 2.6 36.1 9.2ePT1.8 15.5 1.2 1.5 -72.3 0.6 81.0 -2.3 -1.1 2.9 4.7 3.2 0.4 17.5e-11.7 5.4 2.4 77.0 12.4eRO3.2 24.9 0.5 1.6 -12.9 2.4 44.3 -0.9 2.2 23.9 5.7 1.5 4.5 13.4e21.0 0.5 2.4 17.4 9.8eSI2.2 18.7 2.2 4.9 -19.0 4.0 34.4 -3.1 -0.8 -2.9 0.6 1.6 0.9 17.9e2.7 -10.8 2.1 27.6 8.6eSK5.2 23.7 1.2 1.1 -13.9 1.7 62.5 -3.0 -1.5 6.2 -3.2 3.5 3.1 4.4e-1.0 7.8 2.5 34.3 9.0eFI0.5 21.2 2.9 -0.9 15.2 7.4 57.3 -1.8 0.9 -21.5 1.9 -2.7 0.6 1.5e8.7 0.8b6.0 63.3 19.1eSE4.5 23.8 3.2 3.0 -12.3 2.0 83.9 -0.8 -7.9 -8.5 0.3 2.7 3.0 1.3e5.6 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 (for world volume exports of goods and services)Flags:b:Break in series. e:Estimated.  
 
 
 
 
 
 
 
 
 
Table 2.8 (continued): Auxiliary indicators, 2015 

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 ppEU0.9 71.5 4.9 22.4 12.7 -0.5 24.0 na17.4 0.5e9.7 na10.1 naEA0.9 72.4 5.4 23.1 12.6 -0.4 23.0 na17.3 na7.9 na10.9 naBE0.9 67.7 4.0 22.5 11.4 -0.1 21.6 na14.9 -0.4 7.2 na15.0 naBG0.4 69.2 6.1 24.7 19.1 -2.1 43.3 na22.0 0.8 36.8 na11.5 naCZ1.4 74.0 2.4 12.6 7.5 -1.4 13.0 na9.7 0.1 4.5 na6.8 naDK1.4 76.9 1.6 12.2 7.0 -0.3 18.6 na12.2 0.2 3.2 na11.9 naDE0.9 76.4 2.0 7.7 7.0 -1.0 20.0 na16.7 0.6 5.7 na9.5 naEE2.9 77.0 2.4 14.3 11.3 -0.7 23.6 na21.6 4.1 3.5 na6.2 naIE3.5 72.0 5.3 20.2 14.2 -5.0 25.4 na16.2 -0.1 9.4 na18.8 naEL-2.9 67.7 16.4 50.3 14.7 -2.6 32.4 na21.4 -1.7 17.6 na15.3 naES2.8 74.3 11.4 48.3 15.6 -3.0 28.7 na22.1 1.3 7.4 na15.4 naFR0.2 72.2 3.1 26.1 11.8 1.9 18.4 na13.6 -0.5 6.8 na8.3 naHR1.3 66.9 10.2 42.3 18.1 1.5 24.4 na20.0 -0.4 8.4 na12.3 naIT0.7 63.8 7.4 40.3 22.5 0.4 28.4 na19.9 0.4 12.1 na11.2 naCY1.6 73.9 6.8 32.8 15.3 -0.7 22.8 na16.2 1.5 7.9 na10.4 naLV1.4 75.7 4.9 16.3 10.5 -4.4 30.0 na22.5 3.3 15.4 na7.7 naLT1.4 74.1 3.9 16.3 9.2 -2.0 29.4 na22.2 3.6 14.6 na9.1 naLU2.6 70.9b1.9b17.3b6.2b0.3b18.4 na15.3 0.2 2.5 na5.4 naHU2.2 70.5 3.0 17.1 11.2 -3.2 30.6 na14.9 0.6 24.1 na8.8 naMT3.8 68.8 2.7 11.6 10.5 -0.3 22.2 na16.6 1.5 8.2 na9.2 naNL1.0 82.1 2.7 12.5 6.0 -0.2 16.4 na11.6 1.5 3.2 na10.0 naAT0.6 75.8 2.0 11.3 8.2 0.8 16.9 na13.9 -0.5 2.9 na6.3 naPL1.5 66.8 3.0 21.0 11.2 -0.9 22.5 na17.6 0.5 7.8 na6.9 naPT1.4 72.3 7.5 32.0 11.3 -2.6 26.4 na19.5 1.6 10.9 na10.2 naRO-1.3 59.9 3.6 27.3 22.8 1.6 44.5 na25.4 2.5 34.0 na6.2 naSI1.3 71.2 4.7 16.4 8.7 0.2 17.7 na14.3 0.8 4.8 na5.8 naSK2.0 72.9 8.8 27.7 14.0 -0.1 17.3 na12.3 -0.9 8.4 na7.0 naFI-0.1 74.8 2.9 22.5 9.7 1.8 16.9 na12.4 -0.8 1.0 na11.5 naSE1.5 81.4 2.3 19.7 6.5 -1.0 18.2 na16.3 1.1 1.1 na7.8 naPeople at risk of poverty after social transfers -% of total populationSeverely materially and socially deprived people -% of total populationFlags:b:Break in series. e:Estimated. 1) Labour Force Survey indicators: b = change in the sampling strategy and data collection technique for LU.Source: European Commission, EurostatPeople living in households with very low work intensity -% of total population aged 0-642015Employment(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 population 
 
 
 
 
 
 
 
Table 2.9: Auxiliary indicators, 2014 

41 

2014Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D(1 year % change) Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments(% of GDP)Direct investment liabilities - flows (% of GDP)Direct investment liabilities - 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)EU1.6 19.8 2.1e2.3 -38.1e1.6 61.2 -2.7 na-2.3 -2.5 1.2 0.7 6.7ena-3.3 4.7 59.6 16.9eEA1.4 19.5 2.1e2.4 -37.9 2.0 70.9 -2.7 nana-2.9 1.0 0.6 8.1ena-3.9 5.0 59.4 16.6eBE1.6 22.8 2.4 0.6 51.8 -2.7 226.9 -3.8 -0.1 -7.1 -2.5 1.6 1.2 4.3e3.6 2.9 5.9 57.5 15.1eBG0.9 21.1 0.8 3.5 10.8 1.9 92.8 -5.6 -3.0 13.2 3.0 -0.5 0.6 16.0e57.5 -2.7 1.6 25.1 7.9eCZ2.3 25.4 2.0 0.9 19.0 3.9 76.7 -3.9 -10.1 0.5 -1.6 5.1 1.7 10.0e-0.9 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 -9.8 3.7 -0.5 0.7 5.1e5.4 4.9 3.9 131.5 18.4eDE2.2 20.0 2.9 7.3 32.1 0.5 41.3 -2.8 0.0 -3.0 -2.6 1.2 1.3 3.9e-4.2 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 29.2 0.4 -1.0 2.2 3.2e40.7 35.0 3.8 38.9 6.6eIE8.8 20.6 1.5 -2.4 -351.0 38.3 387.1 -2.7 -1.8 -8.5 -5.3 11.0 6.0 21.6e-12.0 2.1 1.8 80.8 9.1eEL0.5 10.8 0.8 0.7 -129.7 1.1 11.9 -3.4 -5.6 -13.6 3.7 4.6 -3.0 39.7e0.6 -27.1e1.1 64.2 12.8eES1.4 17.8 1.2 2.1 -70.1 2.3 60.0 -2.9 -0.6 -5.1 -6.7 0.9 0.4 8.1e-4.4 -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 -8.4 -1.7 -0.3 0.4 4.2e3.0 -3.9 6.0 55.6 18.9eHR-0.4 19.0 0.8 0.7 -44.8 5.2 59.1 -3.9 -1.4 -13.5 0.7 3.7 -3.0 13.6e-5.9 -6.9 2.7 39.4 7.2eIT0.0 16.7 1.3e2.1 -21.1 0.8 25.0 -2.6 0.4 -9.4 -3.8 -1.0 -0.1 16.5e3.0 -13.1 4.3 42.6 14.0eCY-1.8 13.3 0.5 -3.3 -197.0 222.1 1935.7 -5.9 -0.1 -14.3 -0.8 2.7 0.2 38.6e-1.1 -8.7 3.9 131.0 10.3eLV1.9 22.8 0.7 1.3 -16.7 3.3 56.6 -4.7 -1.3 19.8 0.1 2.7 3.3 9.7e57.9 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 28.5 -0.5 -5.4 1.5 6.8e11.6 7.5 2.5 21.5 9.7eLU2.6 19.2 1.2 3.9 -3277.8 274.7 7568.0 -4.2 0.8 17.1 2.3 2.9 0.1 1.4e17.2 14.2 3.6 58.5 13.4eHU4.2 22.0 1.3 4.9 -29.5 9.5 216.5 -6.1 -7.0 -10.8 -1.2 5.6 -0.3 19.4e9.4 -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 -6.2 1.2 -0.1 1.5 6.0e4.2 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 -5.0 -3.0 0.9 1.5 3.4e-1.2 -11.6 3.1 113.2 18.5eAT0.7 22.7 3.1e2.4 -11.3 0.4 77.8 -3.0 1.6 -9.7 -2.7 -0.7 -0.3 7.5e5.6 16.8 4.3 51.0 14.2ePL3.8 20.1 1.0 -1.0 -25.5 3.8 52.1 -2.6 -1.5 8.6 -1.4 1.9 2.1 7.2e3.9 -6.8 3.1 36.0 9.3ePT0.8 15.0 1.3 1.5 -77.7 5.3 81.5 -3.6 -1.2 -0.6 0.1 0.7 -0.6 16.6e-9.8 -4.9 2.5 81.9 13.7eRO4.1 24.4 0.4 2.4 -14.5 1.9 44.9 -1.4 -1.3 29.8 3.7 4.9 3.3 20.7e48.7 -7.3 2.4 18.0 10.5eSI2.8 19.1 2.4 5.3 -28.5 2.0 31.5 -4.1 0.5 -6.7 -4.6 2.4 2.3 22.8e3.3 -17.6 2.2 28.3 9.3eSK2.7 20.5 0.9 2.1 -13.0 -0.4 61.9 -4.0 0.5 9.2 -3.7 0.1 1.3 5.2e2.0 -0.4 2.6 32.4 8.4eFI-0.4 21.5 3.1 -1.2 0.1 6.4 52.0 -2.8 2.0 -22.1 -3.2 -5.6 0.1 1.6e9.5 3.2 6.0 62.5 24.3eSE2.7 23.2 3.1e4.1 -21.1 -1.7 83.4 -1.3 -3.8 -3.5 -0.8 0.8 1.2 1.3e5.7 16.5 4.2 82.1 20.6eFlags:e:Estimated. 1) House price index: e = estimate by NCB for EL.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 2.9 (continued): Auxiliary indicators, 2014 

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 ppEU0.9 71.2 5.4 24.1 13.0 0.1 nana17.3 0.4enanananaEA0.8 72.2 5.9 24.5 13.0 0.3 nana17.2 nananananaBE0.4 67.8 3.9 23.4 11.2 0.1 nana15.5 0.2 nanananaBG0.4 68.9 7.4 26.9 20.0 -1.5bnana21.8 -0.4 nanananaCZ0.6 73.5 2.7 15.9 8.1 -0.2bnana9.7 -0.1 nanananaDK0.9 76.6 1.7 14.2 6.4 -0.8 nana12.1 0.0 nanananaDE0.9 76.5 2.2 8.3 7.2 -1.3bnana16.7 0.9 nanananaEE0.8 75.9 3.3 14.9 11.5 0.1 nana21.8 4.3 nanananaIE2.6 71.8 6.6 23.4 15.2 -3.9 nana16.8 1.6 nanananaEL3.6 67.3 17.5 53.0 16.4 1.5 nana22.1 0.7 nanananaES1.0 74.2 12.9 53.2 17.1 -1.1 nana22.2 1.6 nanananaFR0.5 72.0 3.1 25.7 11.1 1.3 nana13.3 -0.7 nanananaHR2.6 66.1 10.1 45.5 19.3 3.1 nana19.4 -1.5 nanananaIT0.1 63.6 8.2 42.7 23.2 2.4 nana19.4 -0.4 nanananaCY-2.0 74.3 7.7 36.0 17.0 2.4 nana14.4 -0.4 nanananaLV-1.3 74.4 5.1 19.6 12.0 -4.0 nana21.2 2.2 nanananaLT2.0 73.7 4.8 19.3 9.9 -1.9 nana19.1 -0.1 nanananaLU2.5 70.8 1.6 22.6 6.3 1.6 nana16.4 2.8 nanananaHU4.6 68.8 3.6 20.1 13.2 0.5 nana15.0 0.9 nanananaMT6.1 67.8 2.9 11.7 10.3 0.1 nana15.8 0.2 nanananaNL-0.1 81.5 2.7 13.8 6.9 1.3 nana11.6 0.6 nanananaAT1.0 75.7 1.9 11.0 8.4 0.4 nana14.1 -0.4 nanananaPL1.7 66.4 3.9 24.1 12.2 0.4 nana17.0 -0.7 nanananaPT1.4 71.8 8.7 34.8 12.3 -0.3 nana19.5 1.5 nanananaRO0.8 58.8 3.4 30.0 21.4 -0.2 nana25.1 2.8 nanananaSI0.4 70.4 5.3 20.5 8.6 2.1 nana14.5 0.9 nanananaSK1.4 72.2 10.7 31.0 13.0 -1.1bnana12.6 -0.4 nanananaFI-0.4 74.6 2.4 20.5 9.2 1.4 nana12.8 -0.9 nanananaSE1.4 81.1 2.3 22.3 6.9 -0.3 nana15.6 0.2 nanananaFlags:b:Break in series. e:Estimated. Source: European Commission, Eurostat2014Employment(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 and socially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-64 
 
 
 
 
 
 
Table 2.10: Auxiliary indicators, 2013 

43 

2013Real GDP (1 year % change) Gross fixed capital formation (% of GDP)Gross domestic expenditure on R&D(1 year % change) Current plus capital account (Net lending-borrowing)(% of GDP)Net international investment position excluding non-defaultable instruments(% of GDP)Direct investment liabilities - flows (% of GDP)Direct investment liabilities - 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)EU-0.1 19.8 2.1e2.4 -36.4e5.1 na-3.1 na-4.2 -0.6 -1.5 0.3 nana-3.4 4.8 60.9 naEA-0.2 19.5 2.1e2.2 -35.6 6.1 63.3 -3.2 nana-0.8 -1.7 0.3 nana-3.1 5.0 60.8 naBE0.5 22.2 2.3 0.9 58.5 -5.6 231.9 -4.5 0.6 -6.3 0.2 -3.2 0.8 15.7e3.1 7.6 5.7 55.7 15.7eBG-0.5 21.2 0.6 2.4 7.3 3.6 89.2 -6.2 -0.4 7.5 4.2 6.0 -0.1 7.8e53.0 -9.3 1.7 25.5 7.8eCZ0.0 25.4 1.9 1.5 14.8 3.5 76.6 -4.7 -2.4 -2.8 -1.0 -3.3 -0.4 10.8e1.3 -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 -11.5 2.4 -2.0 0.9 18.4e4.8 -0.6 3.7 133.3 18.4eDE0.4 19.9 2.8 6.5 29.9 1.8 41.3 -3.4 -0.7 -6.3 0.4 -2.6 -0.3 20.3e-6.9 10.4 5.9 55.7 20.3eEE1.5 27.9 1.7 2.9 7.4 4.4 98.9 -2.2 5.4 18.4 -0.7 -0.8 0.2 6.8e41.8 28.8 3.4 40.2 6.8eIE1.2 18.6 2.01.0 -310.9 29.7 348.5 -3.2 -3.1 -3.7 -4.8 -0.6 -1.7 15.0e-5.8 -27.3 1.6 93.4 15.0eEL-2.5 11.2 0.8 0.3 -130.3 1.2 12.1 -3.7 -3.4 -21.0 1.2 -1.8 -1.9 14.0e3.7 -25.5e2.3 66.1 14.0eES-1.4 17.4 1.3 2.6 -69.7 3.5 57.7 -3.4 0.4 -3.4 -1.6 0.8 1.1 14.9e-1.1 -28.5 3.9 77.7 14.9eFR0.6 22.0 2.2 -0.5 -26.9 1.1 41.3 -3.1 -1.4 -7.6 -0.4 -1.5 0.4 18.1e2.8 3.2 6.1 55.6 18.1eHR-0.4 19.3 0.8 -0.9 -48.2 1.6 51.4 -5.0 -2.9 -17.3 1.4 -1.0 2.5 7.5e-2.6 -5.3 2.9 39.6 7.5eIT-1.8 17.2 1.3 1.1 -23.9 0.9 23.7 -3.3 1.0 -14.3 -0.8 -3.2 -0.1 15.0e5.6 -7.6 4.7 43.3 15.0eCY-6.6 14.1 0.5 -0.9 -141.1 108.6 1646.3 -6.4 1.0 -5.3 -0.6 -2.5 -1.1 16.2e3.5 -8.5 4.1 129.3 16.2eLV2.0 24.3 0.6 -0.3 -22.3 3.3 54.0 -5.6 0.2 14.0 1.2 -2.9 -0.3 9.9e60.7 21.5 2.2 29.2 9.9eLT3.6 18.4 0.9 4.9 -18.6 1.7 42.9 -6.1 1.4 19.6 -5.2 3.7 2.2 9.6e12.7 7.7 2.2 22.3 9.6eLU3.2 18.5 1.2 4.4 -2546.8 974.2 6123.9 -5.1 1.7 15.5 3.0 2.7 1.3 13.9e17.1 13.4 3.4 57.0 13.9eHU1.8 20.8 1.4 7.2 -35.2 -2.6 211.1 -6.3 -3.0 -16.9 -1.1 0.5 0.5 10.7e14.6 -9.4 1.8 28.3 10.7eMT5.5 16.5 0.7 1.8 216.5 5.4 1898.1 -8.7 0.1 7.0 0.3 -2.7 0.9 6.6e6.8 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 -4.5 -2.0 -1.1 1.1 20.8e-1.2 -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 -12.2 -1.9 -3.0 -0.3 13.4e3.5 19.9 4.3 51.2 13.4ePL0.9 19.0 0.9 -0.2 -26.2 0.2 50.8 -2.7 -3.3 5.1 -0.2 1.5 0.9 9.0e2.5 -7.6 3.0 35.6 9.0ePT-0.9 14.8 1.3 3.3 -78.1 6.9 77.4 -3.7 0.1 -1.0 3.9 3.6 2.0 14.8e-8.5 -13.3 2.5 86.1 14.8eRO0.3 24.4 0.4 1.2 -20.5 2.0 45.3 -1.9 0.7 22.9 2.7 17.0 1.2 9.7e47.4 -17.0 2.4 19.3 9.7eSI-1.0 19.6 2.6 3.7 -32.8 0.2 28.9 -5.5 0.1 -12.1 -2.3 -0.5 0.1 11.3e8.1 -9.4 2.4 29.6 11.3eSK0.6 20.5 0.8 3.3 -10.5 1.0 64.5 -5.9 2.5 3.3 -4.9 2.4 1.4 8.2e4.1 -3.3 3.2 29.6 8.2eFI-0.9 22.0 3.3 -1.7 -4.6 -1.9 46.6 -3.1 1.9 -27.3 -2.7 -3.0 -0.1 21.7e8.7 6.9 6.4 61.5 21.7eSE1.2 22.4 3.3e5.0 -22.3 0.2 89.5 -1.5 5.9 -10.3 0.2 -4.7 0.2 21.3e3.8 9.2 3.6 81.2 21.3eFlags:b:Break in series. e:Estimated. 1) House price index: e = estimate by NCB for EL.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeignentities),andInternationalMonetaryFunddata, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 2.10 (continued): Auxiliary indicators, 2013 

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 ppEU-0.4 70.8 5.4 25.2 13.4 0.6 nana16.8 0.3enanananaEA-0.5 71.9 5.8 25.2 13.2 0.5 nanananananananaBE-0.3 67.6 3.5 23.9 11.8 1.6 nana15.1 0.5 nanananaBG-0.4 68.2 7.9 31.5 21.3 0.5bnana21.0 0.3 nanananaCZ0.3 72.9 3.0 19.0 9.1 0.3 nana8.6 -0.4 nanananaDK0.0 76.6 1.8 14.8 6.6 -0.3 nana11.9 -1.4 nanananaDE0.8 76.4 2.3 8.3 7.1 -2.3bnana16.1 0.5 nanananaEE1.2 75.8 3.8 18.6 11.2 -2.5 nana18.6 2.8 nanananaIE2.9 71.8 7.9 26.7 16.4 -3.0 nana15.7 0.5 nanananaEL-0.6 67.4 16.7 59.2 17.5 4.9 nana23.1 3.0 nanananaES-2.4 74.3 13.0 55.5 18.6 0.8 nana20.4 -0.3 nanananaFR0.2 71.8 2.9 26.4 10.7 0.7 nana13.7 0.4 nanananaHR-2.8 63.7 11.0 50.0 19.6 3.9 nana19.5 -1.1 nanananaIT-1.8 62.9 7.4 40.0 23.3 3.3 nana19.3 0.6 nanananaCY-5.6 73.6 6.1 38.9 18.7 7.0 nana15.3 -0.3 nanananaLV2.3 73.8 6.3 23.2 13.0 -4.8 nana19.4 -1.5 nanananaLT1.4 72.4 5.1 21.9 11.1 -2.1 nana20.6 0.1 nanananaLU1.8 69.9 1.8 15.5 5.0 -0.1 nana15.9 1.4 nanananaHU1.3 66.7 4.8 26.1 15.0 3.0 nana15.0 2.7 nanananaMT4.5 66.3 3.5 12.7 9.9 0.4 nana15.8 0.3 nanananaNL-1.2 81.9 2.3 14.2 7.0 0.8 nana10.4 0.1 nanananaAT0.3 75.8 1.6 10.3 8.0 -0.1 nana14.4 -0.3 nanananaPL-0.1 65.4 4.5 27.6 12.5 1.5bnana17.3 -0.3 nanananaPT-2.9 71.2 9.7 38.3 14.1 2.5 nana18.7 0.8 nanananaRO-0.9 57.9 3.9 29.6 21.4 0.0 nana23.0 1.4 nanananaSI-1.1 70.0 5.2 21.6 8.5 1.9 nana14.5 1.8 nanananaSK-0.8 71.8 11.6 34.9 14.0 -0.3 nana12.8 0.8 nanananaFI-0.8 74.4 2.1 20.6 8.5 0.2 nana11.8 -1.3 nanananaSE1.0 80.7 2.3 22.9 7.2 -0.2 nana16.0 1.2 nanananaYoung 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 and socially deprived people -% of total populationPeople living in households with very low work intensity -% of total population aged 0-64Flags:b:Break in series. e:Estimated. Source: European Commission, Eurostat2013Employment(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 

2013201420152016201720182019202020212022EU1.6 2.2 2.6 2.8 3.0 3.0 2.7 2.4 2.5 1.5    EAnana2.4 2.7 2.9 3.0 2.8 2.3 2.3 1.3 BE-0.4 0.5 1.0 0.9 0.9 0.1 0.0 0.2 0.9 0.6 BG0.3 0.6 0.8 1.4 2.1 2.4 2.0 1.0 0.1 -1.0 CZ-1.4 -0.6 0.0 0.8 1.3 1.3 0.8 0.9 -0.1 -2.3 DK6.9 7.7 8.3 8.3 8.0 7.7 7.9 7.9 8.6 10.2 DE6.6 7.0 7.5 8.1 8.3 8.1 8.0 7.7 7.6 6.3 EE-0.1 -0.3 0.9 1.2 1.8 1.5 1.9 0.5 -0.7 -2.6 IE-1.2 -0.3 2.3 0.4 0.2 0.5 -4.7 -7.1 -4.2 6.0 EL-4.6 -1.9 -1.0 -1.1 -1.5 -2.2 -2.1 -3.7 -5.0 -7.9 ES-0.2 1.3 1.9 2.3 2.7 2.6 2.3 1.5 1.2 0.7 FR-0.8 -0.8 -0.6 -0.6 -0.5 -0.7 -0.4 -0.6 -0.2 -1.1 HR0.3 0.2 0.8 1.9 2.9 2.4 2.5 1.0 0.8 -0.9 IT-0.6 0.9 1.5 2.0 2.3 2.6 2.8 3.2 3.2 1.6 CY-2.5 -3.1 -2.0 -2.9 -3.2 -4.4 -4.9 -6.5 -7.2 -8.0 LV-3.3 -2.7 -1.7 -0.2 0.7 0.9 0.2 0.7 -0.5 -1.9 LT-1.2 1.2 0.9 0.0 -1.0 -0.1 1.5 3.7 4.0 1.0 LU5.3 5.1 4.9 4.8 4.6 5.2 6.6 8.0 8.5 8.0 HU1.9 2.1 2.3 2.7 2.9 2.2 0.4 -0.6 -2.0 -4.5 MT-0.8 1.8 2.8 2.6 2.7 3.9 7.1 5.9 4.1 0.1 NL9.5 9.5 7.8 6.9 7.1 8.5 8.4 7.1 8.1 8.8 AT1.7 2.0 2.0 2.3 1.9 1.7 1.6 2.2 2.5 1.6 PL-3.7 -3.0 -2.0 -1.7 -1.1 -1.4 -1.1 0.1 0.3 -0.4 PT-2.0 0.1 0.7 0.5 0.9 1.0 0.8 0.0 -0.5 -1.0 RO-3.5 -2.0 -0.7 -0.9 -1.8 -3.1 -4.2 -4.8 -5.7 -7.1 SI1.3 3.2 4.1 4.6 4.9 5.6 6.0 6.3 5.5 3.2 SK-0.7 1.3 0.3 -1.2 -2.2 -2.3 -2.5 -1.7 -2.2 -3.6 FI-1.8 -1.7 -1.4 -1.4 -1.2 -1.5 -1.0 -0.5 0.2 -0.5 SE5.4 5.0 4.2 3.2 2.7 2.5 3.5 4.6 6.0 5.8 TheCurrentaccountprovidesinformationaboutthetransactionsofacountrywiththerestoftheworld.Itcoversalltransactions(otherthanthoseinfinancialitems)ingoods,services,primaryincomeandsecondaryincome,whichoccurbetweenresidentandnon-residentunits.TheMIPScoreboardindicatoristhethree-yearbackwardmovingaverageofthecurrentaccountbalanceexpressedinpercentageofGDP.TheindicatorisbasedonBalanceofPayments (BoP) data. Starting from October 2014 definitions are based on the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).Source: European Commission, Eurostat 
 
 
 
 
 
 
 
Table 3.2: Current account balance (% of GDP)  

46 

2013201420152016201720182019202020212022EU2.5 2.5 2.8 3.2 3.0 2.7 2.4 2.2 2.8 -0.4    EA2.1 2.3 2.7 3.0 3.1 2.8 2.4 1.8 2.8 -0.6 BE1.0 0.8 1.4 0.6 0.7 -0.9 0.1 1.4 1.3 -1.0 BG1.3 1.2 0.0 3.1 3.3 0.9 1.9 0.0 -1.7 -1.4 CZ-0.5 0.2 0.4 1.8 1.5 0.4 0.3 2.0 -2.8 -6.1 DK7.8 8.9 8.2 7.8 8.0 7.3 8.5 8.1 9.1 13.4 DE6.6 7.2 8.6 8.6 7.8 8.0 8.2 7.1 7.7 4.2 EE0.3 0.7 1.8 1.2 2.3 0.9 2.5 -1.9 -2.6 -3.2 IE1.6 1.1 4.4 -4.2 0.5 5.2 -19.9 -6.5 13.7 10.8 EL-1.4 -0.7 -0.8 -1.7 -1.9 -2.9 -1.5 -6.6 -6.8 -10.3 ES2.0 1.7 2.0 3.2 2.8 1.9 2.1 0.6 0.8 0.6 FR-0.5 -1.0 -0.4 -0.5 -0.8 -0.8 0.5 -1.6 0.4 -2.0 HR-1.1 0.3 3.3 2.2 3.3 1.6 2.5 -1.0 1.0 -2.8 IT1.1 1.9 1.4 2.6 2.7 2.6 3.3 3.9 2.4 -1.5 CY-1.5 -4.1 -0.4 -4.2 -5.0 -4.0 -5.6 -10.0 -6.1 -7.9 LV-2.8 -1.6 -0.6 1.6 1.2 -0.2 -0.6 2.9 -3.9 -4.7 LT1.7 3.5 -2.4 -1.1 0.5 0.3 3.5 7.3 1.1 -5.5 LU5.1 4.9 4.7 4.7 4.5 6.5 8.9 8.6 7.9 7.7 HU3.4 1.2 2.3 4.5 2.0 0.2 -0.8 -1.0 -4.1 -8.3 MT0.1 5.6 2.7 -0.6 5.9 6.3 9.0 2.2 1.2 -3.0 NL9.8 8.5 5.2 7.1 8.9 9.3 6.9 5.1 12.1 9.3 AT1.9 2.5 1.7 2.7 1.4 0.9 2.4 3.4 1.6 -0.3 PL-2.0 -2.9 -1.3 -1.0 -1.1 -1.9 -0.2 2.5 -1.3 -2.4 PT1.6 0.2 0.2 1.2 1.3 0.6 0.4 -1.0 -0.8 -1.1 RO-1.0 -0.3 -0.8 -1.6 -3.1 -4.6 -4.9 -4.9 -7.2 -9.1 SI3.3 5.1 3.8 4.8 6.2 5.9 5.9 7.2 3.3 -1.0 SK1.9 1.1 -2.1 -2.7 -1.9 -2.2 -3.3 0.6 -4.0 -7.3 FI-1.8 -1.3 -0.9 -2.0 -0.8 -1.8 -0.3 0.5 0.4 -2.5 SE5.2 4.2 3.2 2.2 2.8 2.5 5.3 5.9 6.8 4.8 Source: European Commission, EurostatTheCurrentaccountprovidesinformationaboutthetransactionsofacountrywiththerestoftheworld.Itcoversalltransactions(otherthanthoseinfinancialitems)ingoods,services,primaryincomeandsecondaryincome,whichoccurbetweenresidentandnon-residentunits.TheindicatorisexpressedinpercentageofGDPandbasedonBalanceofPayments(BoP)data.StartingfromOctober2014definitionsarebasedontheSixthEditionoftheIMF'sBalance of Payments and International Investment Position Manual (BPM6). 
 
 
 
Table 3.3: Net International Investment Position (% of GDP)   

47 

2013201420152016201720182019202020212022EU-21.9e-19.2e-18.5e-14.4e-13.3e-8.9e-5.1e-3.5e0.0e1.5e   EA-20.2 -17.9 -17.3 -13.6 -12.3 -8.0 -4.4 -2.4 1.4 3.2 BE43.2 44.8 45.2 54.5 56.0 34.3 40.9 47.3 67.7 57.7 BG-73.2 -72.0 -61.5 -47.5 -43.0 -37.0 -30.2 -25.6 -18.6 -12.9 CZ-40.9 -36.3 -32.9 -27.2 -24.9 -24.4 -19.8 -16.3 -14.5 -19.7 DK37.2 43.3 30.8 52.6 55.4 64.0 77.7 69.0 72.9 58.2 DE25.4 29.4 34.9 39.5 44.6 52.3 58.5 63.7 68.0 70.2 EE-50.0 -47.0 -40.2 -39.5 -33.0 -29.9 -22.4 -21.0 -13.4 -20.2 IE-133.7 -164.2 -197.9 -172.9 -166.4 -182.9 -193.6 -165.0 -130.9 -116.8 EL-131.0 -133.0 -136.1 -139.1 -143.4 -148.6 -154.1 -174.3 -173.0 -144.2 ES-92.8 -95.9 -88.9 -85.4 -85.5 -79.1 -72.8 -84.9 -71.0 -60.2 FR-16.6 -15.6 -12.9 -13.0 -20.1 -19.3 -24.6 -29.4 -30.9 -23.8 HR-88.4 -88.5 -78.0 -71.5 -63.5 -55.7 -46.7 -45.2 -32.5 -25.4 IT-23.5 -21.0 -19.5 -12.1 -7.5 -5.2 -2.0 0.9 7.5 4.7 CY-162.1 -163.1 -153.5 -133.2 -135.7 -125.2 -115.4 -133.4 -104.0 -96.2 LV-67.9 -63.5 -59.6 -53.8 -51.1 -45.1 -40.1 -34.0 -27.3 -26.5 LT-50.8 -46.8 -43.8 -42.8 -37.3 -30.2 -23.5 -15.7 -7.4 -7.0 LU61.5 67.3 68.2 63.6 97.7 72.5 66.2 42.4 42.6 47.0 HU-82.0 -80.1 -67.5 -59.1 -54.4 -50.7 -49.6 -52.1 -52.2 -50.8 MT25.9 41.8 36.1 47.8 56.6 55.2 52.8 59.4 97.0 78.8 NL30.7 48.0 50.0 62.6 61.5 73.1 89.6 113.0 93.3 75.2 AT1.3 3.4 2.2 4.1 4.3 6.0 14.4 12.3 15.6 17.6 PL-68.8 -68.8 -60.6 -59.7 -60.3 -54.7 -48.8 -43.9 -39.8 -33.4 PT-120.2 -123.8 -118.9 -110.5 -110.4 -106.4 -100.0 -104.6 -94.4 -83.6 RO-63.6 -57.0 -54.7 -50.0 -47.8 -43.4 -43.4 -47.6 -47.0 -40.6 SI-39.3 -38.4 -31.2 -28.8 -24.2 -19.0 -16.3 -15.7 -7.7 -1.5 SK-62.0 -63.4 -63.6 -66.6 -68.2 -69.4 -65.6 -64.7 -60.5 -61.0 FI3.0 -3.1 4.8 5.5 1.2 -5.6 4.0 -4.0 1.0 -1.7 SE-15.9 -3.4 -5.0 -1.6 -0.8 8.2 13.3 6.9 20.7 34.8 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). Flags:e:Estimated. 1) For Luxembourg, International investment position has been revised downwards from 2013 to 2015 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 

2013201420152016201720182019202020212022EU-2.5 -2.4 -5.4 -6.5 -4.6 9.5 3.4 4.1 0.2 -1.0    EA-2.0 -1.0 -3.6 -4.5 -3.6 8.4 3.1 3.8 0.0 -1.1 BE-0.2 -0.6 -1.7 -0.4 0.9 7.0 2.7 2.4 0.5 1.7 BG-0.9 -2.8 -4.3 -4.7 -3.3 4.2 4.7 6.9 3.7 5.8 CZ-3.1 -10.0 -8.2 -3.7 5.4 11.0 8.7 5.6 5.0 13.7 DK-2.5 -1.2 -1.7 -1.7 -2.1 2.6 -0.3 0.9 -1.1 -1.2 DE-1.8 -0.4 -1.5 -2.1 -2.0 5.3 2.0 2.4 0.5 -0.5 EE3.1 4.8 5.8 4.4 3.1 7.6 5.9 4.9 1.9 8.8 IE-3.8 -3.6 -6.4 -7.1 -6.3 2.3 -1.5 -1.3 -2.6 -4.6 EL-4.4 -5.6 -5.6 -4.0 -2.9 3.8 0.5 0.3 -3.3 -2.5 ES-0.3 -1.0 -3.2 -4.3 -2.5 4.2 1.7 1.0 -0.5 -0.7 FR-2.2 -1.3 -2.9 -3.2 -3.0 4.5 1.6 2.6 -0.5 -3.8 HR-3.9 -0.8 0.1 0.0 0.1 4.2 1.6 0.5 -1.5 -0.6 IT0.1 0.2 -2.4 -3.4 -3.1 3.4 0.2 0.5 -1.8 -1.9 CY-0.8 -1.7 -6.2 -7.4 -6.3 2.0 -0.3 -0.4 -2.4 -3.0 LV-1.7 0.4 2.5 4.8 1.7 5.1 3.7 5.9 2.3 5.7 LT-0.6 1.7 4.2 5.3 2.6 6.6 3.8 6.7 4.4 9.8 LU0.8 0.5 -0.7 -1.5 -1.0 3.3 2.0 1.5 0.7 -0.5 HU-3.8 -6.8 -7.2 -5.2 0.1 2.0 0.4 -4.9 -4.1 -8.1 MT-1.2 0.1 -2.8 -2.9 -2.4 4.5 1.6 1.9 -1.2 -3.1 NL0.5 0.7 -0.9 -2.3 -1.7 3.3 2.4 3.7 2.3 3.2 AT0.7 1.9 1.3 0.9 0.2 4.8 2.1 3.1 1.2 0.1 PL-4.3 -1.0 -1.4 -5.1 -3.5 0.1 2.7 1.1 -0.4 -0.2 PT-0.6 -1.8 -3.1 -1.8 -0.8 3.3 -0.3 -0.1 -2.8 -2.9 RO0.5 -1.0 2.7 -2.6 -5.5 -0.7 0.2 3.4 1.0 2.6 SI-0.6 1.2 0.3 -0.6 -1.9 2.0 1.0 1.7 -0.4 -1.3 SK2.1 1.2 -1.2 -1.6 -1.9 2.5 2.5 5.2 3.1 3.8 FI0.2 2.7 2.1 0.4 -2.6 2.9 0.1 2.3 -0.7 -3.1 SE5.1 -3.7 -8.3 -9.2 -5.5 -4.0 -8.3 -4.8 2.1 -1.4 Realeffectiveexchangerate(REER)aimstoassessacountry'spriceorcostcompetitivenessrelativetoitsprincipalcompetitorsininternationalmarkets.Changesincostandpricecompetitivenessdependnotonlyonexchangeratemovementsbutalsooncostandpricetrends.ThespecificREERfortheMacroeconomicImbalanceProcedureisdeflatedbytheconsumerpriceindicesrelativetoapanelof42countries(doubleexportweightsareusedtocalculateREERs,reflectingnotonlycompetitioninthehomemarketsofthevariouscompetitors,butalsocompetitioninexportmarketselsewhere).Apositivevaluemeansrealappreciation.TheMIPScoreboardindicatoristhe3-year percentage change 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 

2013201420152016201720182019202020212022EU3.9 0.0 -8.9 2.6 2.1 4.5 -3.1 2.7 0.7 -4.3    EA3.5 0.6 -7.4 2.6 1.5 4.1 -2.4 2.2 0.3 -3.5 BE1.5 0.2 -3.4 2.9 1.5 2.5 -1.2 1.2 0.6 -0.1 BG0.1 -0.8 -3.6 -0.4 0.6 4.0 0.1 2.7 0.9 2.1 CZ-2.2 -5.2 -0.9 2.5 3.7 4.4 0.3 0.8 3.9 8.7 DK1.0 0.8 -3.4 1.0 0.4 1.1 -1.8 1.6 -0.9 -1.9 DE2.2 0.8 -4.4 1.6 1.0 2.6 -1.5 1.4 0.8 -2.5 EE2.9 2.8 0.1 1.5 1.5 4.5 -0.2 0.6 1.5 6.5 IE1.6 -0.8 -7.2 0.9 0.1 1.3 -2.8 0.3 -0.1 -4.7 EL-0.6 -0.6 -4.5 1.1 0.5 2.1 -2.1 0.3 -1.5 -1.3 ES1.9 -0.5 -4.5 0.7 1.4 2.0 -1.7 0.6 0.6 -1.9 FR1.6 0.3 -4.7 1.3 0.5 2.6 -1.5 1.5 -0.4 -4.7 HR1.2 0.5 -1.5 1.1 0.5 2.5 -1.5 -0.5 0.5 -0.6 IT1.9 0.3 -4.5 0.8 0.6 1.9 -2.2 0.8 -0.4 -2.3 CY1.1 -0.8 -6.5 -0.2 0.4 1.8 -2.4 0.3 -0.2 -3.1 LV-1.0 2.9 0.6 1.2 -0.1 3.9 0.0 2.0 0.3 3.3 LT0.9 3.0 0.3 1.9 0.4 4.2 -0.7 3.2 1.9 4.5 LU1.6 0.5 -2.7 0.7 1.0 1.6 -0.6 0.4 0.8 -1.7 HU-1.4 -3.6 -2.4 0.8 1.7 -0.6 -0.8 -3.7 0.3 -4.9 MT1.5 0.6 -4.8 1.4 1.1 2.0 -1.4 1.4 -1.1 -3.4 NL2.7 -0.1 -3.4 1.2 0.5 1.5 0.3 1.8 0.1 1.2 AT2.1 1.7 -2.4 1.7 1.0 2.1 -1.0 2.1 0.2 -2.1 PL0.2 1.0 -2.6 -3.5 2.7 1.0 -1.0 1.1 -0.5 -0.7 PT0.3 -0.5 -2.9 1.6 0.6 1.0 -1.8 0.7 -1.7 -1.9 RO4.0 1.4 -2.6 -1.3 -1.8 2.3 -0.3 1.4 0.0 1.2 SI1.4 1.1 -2.1 0.5 -0.3 1.8 -0.5 0.4 -0.3 -1.3 SK1.0 0.2 -2.4 0.5 -0.1 2.1 0.6 2.5 0.0 1.3 FI2.9 2.5 -3.2 1.2 -0.6 2.2 -1.5 1.6 -0.7 -3.9 SE1.7 -4.6 -5.5 0.8 -0.8 -4.0 -3.8 3.1 3.0 -7.1 Realeffectiveexchangerate(REER)aimstoassessacountry'spriceorcostcompetitivenessrelativetoitsprincipalcompetitorsininternationalmarkets.Changesincostandpricecompetitivenessdependnotonlyonexchangeratemovementsbutalsooncostandpricetrends.ThespecificREERfortheMIPisdeflatedbytheconsumerpriceindicesrelativetoapanelof42countries(doubleexportweightsareusedtocalculateREERs,reflectingnotonlycompetition in the home markets of the various competitors, but also competition in export markets elsewhere). A positive value means appreciation in real terms. 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 

2013201420152016201720182019202020212022EU-10.7 -9.0 1.3 6.2 8.3 5.4 4.0 3.6 -4.0 -8.0    EAnanananana6.9 4.4 3.1 -3.8 -8.4 BE-13.2 -13.5 -13.7 -5.2 1.5 -1.4 -2.5 8.9 3.8 -1.9 BG-0.4 5.4 12.9 9.1 19.9 12.9 14.9 15.4 11.3 15.5 CZ-10.0 -6.4 -2.1 2.5 8.2 10.9 4.6 7.8 -1.7 -7.7 DK-18.0 -16.1 -8.7 -3.1 1.4 -0.2 1.5 10.5 5.7 12.4 DE-13.2 -9.7 -3.3 1.9 5.6 3.1 -0.5 1.6 -6.0 -13.0 EE9.7 20.3 7.1 -0.9 1.6 -0.2 1.4 15.8 18.6 17.0 IE-10.8 -14.8 37.6 58.2 70.7 78.2 72.7 51.7 40.4 32.1 EL-26.8 -19.5 -14.1 -10.0 -0.7 6.2 3.0 -10.9 8.6 12.6 ES-10.5 -11.7 -3.5 2.7 9.4 4.2 2.1 -7.4 -12.1 -7.8 FR-14.4 -14.7 -3.9 0.9 2.4 0.4 -1.0 -8.6 -11.8 -10.7 HR-23.4 -19.5 -6.0 9.1 22.8 21.9 21.7 -1.4 4.0 12.1 IT-20.6 -15.7 -9.9 -4.2 0.5 -0.3 -2.6 -3.1 -6.7 -8.4 CY-12.2 -20.3 -4.9 7.7 20.9 21.7 25.0 38.5 32.5 20.7 LV5.6 11.6 13.1 9.1 7.2 8.2 3.1 20.3 13.1 15.3 LT10.8 19.7 6.3 -1.6 3.4 2.8 16.1 38.3 36.6 28.8 LU7.0 9.0 17.6 25.5 23.4 11.6 9.9 21.7 16.7 -0.8 HU-23.0 -17.0 -9.5 -2.3 10.1 8.1 4.8 7.1 -2.7 -3.5 MT-0.9 -12.6 8.9 17.6 24.0 18.8 33.5 30.6 13.4 2.7 NL-11.6 -11.5 -6.9 -3.2 1.2 1.4 -0.5 6.5 3.2 -0.1 AT-18.6 -15.9 -9.3 -3.1 2.1 2.6 1.0 4.9 -3.8 -4.7 PL-2.6 1.1 5.1 13.6 23.4 22.1 21.7 33.3 23.7 16.6 PT-8.3 -7.5 0.7 5.0 13.8 8.4 8.1 -1.8 -6.0 -1.9 RO13.9 20.9 21.2 24.5 37.8 23.3 17.1 19.5 9.6 6.7 SI-18.5 -13.2 -5.0 3.2 17.7 19.3 15.5 19.3 10.6 2.9 SK-4.3 1.7 3.9 7.1 4.8 1.9 1.1 7.2 -1.9 -6.6 FI-32.6 -27.4 -23.2 -16.0 -5.4 -4.3 2.9 10.9 3.8 -2.0 SE-16.9 -10.1 -10.5 -9.5 -5.8 -6.9 -3.2 2.8 0.9 -2.7 Theexportmarketshareiscalculatedbydividingtheexports(goodsandservices)ofthecountrybythetotalexportsoftheregion/world.TheMIPScoreboardindicatorisexpressedasa5-yearpercentagechange.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 

2013201420152016201720182019202020212022EU2.1 2.2 2.1 2.7 -0.9 -0.7 0.9 1.7 -4.8 -5.1    EAna2.7 2.6 2.6 -0.5 -0.7 0.3 1.4 -4.2 -5.2 BE1.4 0.5 -7.2 7.0 0.2 -1.5 -0.6 3.7 2.0 -5.3 BG6.4 0.8 -1.2 8.2 4.6 0.1 2.6 -0.8 4.4 8.5 CZ-1.5 4.8 -0.7 4.4 1.1 0.9 -1.1 2.4 -4.8 -5.0 DK2.1 0.5 -2.0 1.5 -0.7 0.5 2.2 6.7 -2.9 5.6 DE1.0 2.6 -0.1 3.3 -1.3 -1.4 -1.0 2.0 -4.4 -8.7 EE3.6 0.8 -8.5 6.5 -0.2 1.8 2.5 4.5 9.1 -1.5 IE1.9 13.1 40.6 4.0 1.4 6.3 9.6 23.5 -3.7 -4.7 EL0.5 3.6 -7.2 -2.1 4.9 7.5 0.5 -19.7 19.3 8.9 ES3.8 1.0 -1.4 5.8 0.1 -1.2 -1.1 -10.6 0.4 5.1 FR2.3 0.2 0.9 2.2 -3.2 0.3 -1.1 -6.9 -1.4 -1.9 HR1.9 4.3 3.6 9.0 2.4 1.1 4.1 -16.1 15.0 10.3 IT0.1 0.8 -2.4 2.7 -0.7 -0.7 -1.5 -2.9 -1.1 -2.5 CY2.8 2.4 2.4 8.2 3.7 3.4 5.2 13.5 3.5 -5.5 LV1.9 3.6 -3.6 3.7 1.6 2.9 -1.4 12.5 -2.6 3.6 LT5.6 -5.8 -8.7 3.9 9.5 5.0 6.4 8.8 2.7 3.2 LU9.0 7.6 4.5 2.7 -1.9 -1.4 5.9 15.8 -1.6 -16.6 HU1.5 4.2 0.3 3.3 0.5 -0.4 1.0 2.5 -6.1 -0.4 MT1.1 3.0 11.0 3.4 3.7 -3.1 15.8 8.6 -10.2 -6.1 NL1.4 0.5 -2.0 0.3 1.1 1.6 -1.4 4.9 -2.8 -2.1 AT1.6 1.4 -3.5 4.2 -1.4 2.1 -0.2 0.1 -4.4 -2.3 PL4.7 3.9 1.5 6.3 5.1 3.5 3.7 11.2 -1.4 -0.9 PT6.7 0.9 -1.3 4.1 2.9 1.6 0.7 -10.3 -0.4 7.3 RO15.8 6.7 -0.2 8.9 2.7 3.5 1.4 1.9 -0.2 0.0 SI2.4 3.9 -1.6 6.7 5.4 3.9 0.6 1.7 -1.2 -1.9 SK4.9 -1.6 -2.7 6.0 -1.6 2.0 -2.4 3.2 -3.0 -6.2 FI-0.4 -4.5 -6.8 2.8 3.8 0.9 2.6 0.5 -3.9 -1.9 SE-1.1 -1.3 -2.0 0.9 -2.4 -2.2 2.7 4.0 -1.0 -6.0 Theexportmarketshareiscalculatedbydividingtheexports(goodsandservices)ofthecountrybythetotalexportsoftheregion/world.Theindicatorisexpressedasa1-yearpercentagechange.Thetotalworldexportdataarebased 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 3.8: Nominal unit labour cost index (3 year % change)   

52 

2013201420152016201720182019202020212022EU3.6 3.5 1.4 1.0 1.7 3.5 4.7 8.3 6.3 7.8    EA3.7 3.9 2.2 1.7 1.8 3.5 4.7 8.7 6.4 7.9 BE7.4 4.3 0.4 -0.7 1.4 4.0 4.8 7.0 4.9 10.1pBG16.2 19.2 17.2 11.1 15.8 20.5 20.4 19.9 16.4 23.6 CZ4.3 4.6 0.6 3.3 5.7 13.1 14.5 18.7 13.9 14.8 DK1.5 2.3 2.2 1.3 0.9 1.2 3.4 7.3 4.8 7.2 DE6.0 7.4 6.2 5.2 4.9 6.0 8.1p10.5p7.0p7.2pEE11.6 14.7 15.0 12.6 12.3 14.2 16.0 14.6 10.0 19.0 IE-1.7b-3.2 -18.8 -15.6 -14.1 -1.2 -4.0 -6.5 -9.4 -10.6 EL-4.4 -8.5 -11.0 -4.7 -3.3 -1.0 -1.1 6.0 3.7p3.5pES-5.1 -3.7 -1.2 -1.2 -0.6 1.0 5.9 15.2 13.8p10.8pFR4.6 4.4 2.3 1.7 1.7 2.4 0.9 4.5 5.0p11.1pHR-4.9 -6.7 -6.0 -5.5 -4.1 -0.1 3.0 13.5 3.6 11.0pIT2.9 2.6 2.0 1.5 1.2 2.3 3.2 6.5 3.5 4.9 CY-0.7 -6.5 -10.8 -9.3 -4.6 -0.4 5.2 5.8 2.4p-1.2pLV9.6 13.2 16.7 14.9 14.2 14.7 17.5 19.2 12.0 16.7 LT6.1 8.7 11.8 15.0 16.3 16.4 16.5 17.3 18.7 27.7 LU9.9 5.8 5.6 2.6 6.0 9.9 13.9 12.4 7.4 13.2 HU7.3 6.1 1.3 5.6 9.3 12.3 11.5 13.7 13.3 23.1pMT9.3 2.3 0.9 6.3 6.6 12.5 8.0 20.3 8.4 8.6 NL4.8 3.7 -0.4 -0.3 0.1 3.7 6.0 14.1 9.3p9.8pAT6.4 7.9 6.4 5.5 4.3 5.0 5.7 12.2 10.6 10.7 PL3.5 2.6 0.4 2.4 4.0 6.6 8.0 14.0 12.1 16.9pPT-3.8 -2.9 0.2 -0.5 2.8 6.3 8.5 15.6 13.3 10.7pRO0.9 9.4 3.9 11.3 17.6 28.7 24.0 20.7 14.7p10.4pSI0.1 0.1 -0.1 1.3 3.6 5.7 7.9 14.3 12.7 14.3 SK3.4 3.0 2.5 4.0 7.8 11.3 14.2 15.4 12.6 13.3 FI9.3 7.6 3.3 0.3 -3.7 -2.0 1.3 5.5 6.2 8.6 SE8.7 7.4 2.5 3.0 4.0 8.1 7.2 8.7 4.6 5.8 Flags:b:Break in series. p:Provisional. Source: European Commission, EurostatThenominalunitlabourcost(NULC)indexisdefinedastheratiooflabourcosttolabourproductivity,wherelabourcostistheratioofcompensationofemployees(currentprices)tothenumberofemployees,andlabourproductivityistheratioofgrossdomesticproduct(atmarketpricesinmillions,chain-linkedvolumesreferenceyear2015)tototalemployment.Dataonemployeesandemploymentarepresentedaccordingtothedomesticconceptused in national accounts. The MIP Scoreboard indicator is the 3-year percentage change. Input data are obtained from the official national accounts' country data, through ESA 2010 transmission programme, 
 
 
 
Table 3.9: Nominal unit labour cost index (1 year % change)   

53 

2013201420152016201720182019202020212022EU1.1 0.3 0.0 0.7 1.0 1.8 1.8 4.5 -0.1 3.3    EA1.2 0.6 0.3 0.8 0.7 2.0 1.9 4.6 -0.2 3.4 BE1.7 -0.2 -1.0 0.6 1.9 1.5 1.4 4.0 -0.4 6.3pBG8.9 5.0 2.5 3.2 9.5 6.7 3.1 9.0 3.6 9.5 CZ0.3 1.1 -0.8 3.0 3.5 6.1 4.3 7.3 1.8 5.1 DK0.7 0.7 0.8 -0.2 0.3 1.1 1.9 4.2 -1.2 4.2 DE2.3 1.5 2.2 1.3 1.3 3.3 3.3p3.5p0.1p3.4pEE5.5 4.2 4.6 3.3 3.9 6.4 5.0 2.6 2.1 13.6 IE0.4 -4.7 -15.1 4.4 -3.0 -2.5 1.5 -5.5 -5.5 0.1 EL-6.5 -1.5 -3.3 0.1 -0.1 -1.0 0.0 7.0 -3.1p-0.2pES-0.9 -0.2 0.0 -0.9 0.4 1.6 3.8 9.2 0.4p1.0pFR1.4 0.7 0.2 0.7 0.8 0.8 -0.7 4.4 1.3p5.1pHR-3.4 -2.2 -0.5 -2.9 -0.7 3.6 0.1 9.4 -5.4 7.2pIT0.8 0.2 0.9 0.4 -0.1 2.0 1.3 3.1 -0.9 2.7 CY-4.3 -3.8 -3.1 -2.7 1.2 1.2 2.7 1.8 -2.1p-0.9pLV6.1 4.8 5.0 4.5 4.1 5.4 7.1 5.6 -0.9 11.6 LT3.2 3.1 5.1 6.1 4.3 5.2 6.2 5.0 6.5 14.2 LU1.7 1.9 1.9 -1.2 5.3 5.6 2.4 3.9 0.9 7.9 HU-0.3 1.1 0.5 4.0 4.6 3.3 3.1 6.7 2.9 12.1pMT0.9 -0.6 0.5 6.4 -0.3 6.1 2.2 11.0 -4.4 2.4 NL0.8 0.1 -1.3 0.9 0.5 2.3 3.2 8.1 -2.0p3.6pAT2.5 2.2 1.5 1.7 1.0 2.2 2.4 7.2 0.7 2.6 PL0.6 0.2 -0.4 2.6 1.8 2.1 3.9 7.5 0.4 8.4pPT1.5 -1.2 -0.1 0.8 2.1 3.4 2.8 8.7 1.3 0.5pRO3.6 2.8 -2.5 11.0 8.7 6.7 6.9 5.8 1.4p2.9pSI0.4 -1.1 0.6 1.8 1.2 2.7 3.9 7.2 1.1 5.4 SK1.1 0.7 0.6 2.7 4.3 3.9 5.3 5.4 1.4 6.0 FI1.6 0.9 0.8 -1.4 -3.2 2.6 1.9 0.9 3.2 4.2 SE1.8 1.0 -0.3 2.3 2.0 3.6 1.5 3.4 -0.3 2.7 Source: European Commission, EurostatThenominalunitlabourcost(NULC)indexisdefinedastheratiooflabourcosttolabourproductivity,wherelabourcostistheratioofcompensationofemployees(currentprices)tothenumberofemployees,andlabourproductivityistheratioofgrossdomesticproduct(atmarketpricesinmillions,chain-linkedvolumesreferenceyear2015)tototalemployment.Dataonemployeesandemploymentarepresentedaccordingtothedomesticconceptused in national accounts. The indicator is the percentage change over one year. Input data are obtained from the official national accounts' country data, through ESA 2010 transmission programme.Flags:p:Provisional.  
 
 
 
Table 3.10: House price index, deflated (1 year % change) 

54 

2013201420152016201720182019202020212022EU-2.8 0.4 2.0 4.1 3.2 3.6 3.6 5.0 5.8 0.5    EA-3.1 -0.2 1.2 3.6 3.0 3.2 3.2 4.6 5.5 0.4 BE0.1 -1.3 0.8 1.1 1.7 0.8 2.5 3.3 4.5 -3.8 BG-0.8 0.1 0.4b5.3 3.9 4.1 3.9 5.2 2.5 -2.1bCZ-0.7 1.6 4.0 6.8 9.1 5.9 6.2 5.4 16.4 1.6 DK3.1 3.1 6.6 5.1 3.5 3.7 1.4 4.7 9.5 -7.4 DE1.7 2.2 4.1 6.7 4.6 5.1 4.4 7.2 8.3 -1.3 EE7.3 12.9 7.3 3.7 1.1 2.3 4.2 7.0 10.4 4.5 IE0.0 15.5 11.0 7.0 9.3 8.2 0.5 -0.4 4.2 5.0 EL-9.3e-5.2e-3.8e-1.5e-1.4e1.7e7.2e5.7e6.5e4.4eES-10.0 0.2 3.7 4.5 4.6 5.2 4.1 2.1 1.4 0.8 FR-2.5 -1.6 -1.6 0.8 2.3 1.2 2.5 4.1 4.8 1.5 HR-5.7 -1.3 -2.6 2.0 2.9 4.6 7.8 7.1 4.9 3.2 IT-7.5 -4.9 -4.0 0.2 -2.1 -1.5 -0.7 1.8 1.0 -3.2 CY-3.9 -1.1 1.0b2.2 1.2 0.5 3.4 0.8 -4.2 -3.1 LV6.4 4.7 -2.8 7.3 5.3 6.3 5.5 3.5 7.2 -1.0 LT0.4 6.4 4.7 4.4 5.2 4.5 4.5 6.0 10.9 0.4 LU3.4 3.7 4.5 5.2 3.3 5.1 8.7 12.7 12.5 4.0 HU-4.2 2.8 12.5 12.3 8.6 10.7 11.8 1.5 9.6 5.1pMT-1.6 2.0 4.1 4.5 4.2 4.8 4.2 2.2 3.8 1.2pNL-7.9 -0.1 3.4 4.4 6.1 7.1 4.6 6.2 11.6 6.1 AT3.0 1.4 3.4 7.0 3.4 2.6 4.0 6.4 10.1 3.7 PL-4.7 1.3 1.9 2.7 2.0 5.0 6.4 6.7 3.5 -1.9 PT-2.6 4.0 2.2 6.1 7.6 8.6 9.0 8.1 7.3 4.8 RO-1.7 -3.2 1.7 5.2 3.3 1.7 -1.9 2.3 -0.2 -6.2 SI-7.2 -6.2 1.4 3.6 6.6 6.6 5.3 5.2 7.9 4.3 SK-0.4 1.5 5.5 7.0 4.4 4.9 6.2 7.2 3.0 1.3 FI-1.3 -1.6 -0.5b1.1 0.1 -0.4 -0.6 1.4 2.8 -4.6 SE4.5 8.3 12.0 7.3 4.8 -3.3 0.4 3.3 8.1 -3.1 Thedeflatedhousepriceindex(HPI),orrealhousepriceindex,istheratiobetweenHPIandthenationalaccountsdeflatorforprivatefinalconsumptionexpenditure(householdsandnon-profitinstitutionsservinghouseholds(NPISHs)).TheindicatormeasuresinflationinthehousemarketrelativetoinflationinthefinalconsumptionexpenditureofhouseholdsandNPISHs.Eurostat'sHPIcapturespricechangesofallresidentialpropertiespurchasedbyhouseholds(flats,detachedhouses,terracedhouses,etc.),bothnewandexisting,independentlyoftheirfinaluseandtheirpreviousowners.Onlymarketpricesareconsidered,self-builddwellingsarethereforeexcluded.Thelandcomponent 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. 1)e=sourceNCBforEL;2)2022,b=breakintimeseriesduetonewdatasourceforBG;3)2015,b=breakintimeseriesduetofullimplementationofharmonisedEUmethodologyforBGandCY;b=breakintimeseriesdueto new calculation method for New dwellings (apartments) for FI. Source: European Commission, Eurostat 
 
 
 
 
Table 3.11: Private sector credit flow, consolidated (% of GDP) 

55 

2013201420152016201720182019202020212022EU0.9 0.6 2.2 3.9b3.9 4.4 4.3 6.1 6.5 5.5p   EA0.8 0.3 2.0 3.6 3.6 4.2 4.0 6.2 6.1 5.3pBE8.5 -2.4 11.0 23.8 0.8 -1.3 4.8 -3.0 6.2 5.7pBG2.6 2.3 -3.8 2.9 4.5 4.0 5.6 4.2 4.9 5.9 CZ4.3 2.3 -0.4 6.2 6.0 6.8 1.4 0.6 2.9 4.5 DK-3.0 -0.3 2.9 3.1b2.0 4.8 10.5 5.4 11.5 13.1 DE2.7 0.2 2.9 4.6 4.2 6.2 6.4p6.8p6.8p6.7pEE4.6 6.3 2.3 6.4 4.2 4.6 3.4 2.9 6.8 9.2 IE-0.7 2.5 -2.2 -14.8 0.2 -8.7 -9.6 -3.8 1.9 2.0 EL-4.1 -3.1 -3.1 -2.2 -1.2 -0.8 -0.9 5.5 0.8p1.1pES-10.2 -7.1 -2.0 -0.4 0.7 0.0 1.5 4.8 3.0p0.3pFR2.1 3.2 4.6 6.2 7.1 8.2 8.4 13.5 6.7p8.7pHR-0.6 -0.1 -1.5 -0.1 1.5 2.3 1.3 1.3 3.0 6.0pIT-2.8 -0.3 -1.4 0.1 1.2 2.0 0.4 4.0 3.3 2.9 CY-12.1 -0.8 4.3 12.0 7.6 11.4 -0.5 -1.4 6.5 -3.9pLV-0.6 -4.6 -0.8 2.5 2.8 -0.2 1.1 -1.8 0.9 3.0 LT-0.2 0.2 2.6 4.4 4.5 4.3 2.6 0.3 5.8 6.8 LU26.4 28.1 21.3 2.1 -5.3 7.3 -0.1 45.7 64.1 -19.5pHU-0.9 -0.2 -2.5 -3.2 0.6 4.3 4.1 8.2 12.9 9.2pMT2.9 6.6 7.1 10.7 6.0 6.1 13.7 5.8 8.8 6.4 NL9.7 4.2 0.0 3.6 3.5 5.2 -0.3 -0.7 9.6 6.9pAT1.0 0.9 2.1 3.3 3.6 4.8 5.0 4.4 7.6 5.0 PL3.2 4.9 3.6 4.9 3.1 3.8 3.6 1.8 3.8 1.9 PT-2.3 -6.8 -1.4 -1.8 2.9 0.8 2.6 4.4 4.5 2.9pRO-1.5 -2.3 0.2 0.6 1.7 1.9 2.0 1.3 3.8 3.3pSI-3.7 -4.7 -5.0 -0.8 0.9 1.3 0.8 -0.9 3.5 5.2 SK4.9 5.0 5.0 9.2 5.0 6.2 4.5 2.6 4.5 9.3 FI3.0 1.7 6.9 1.3 8.3 4.3 6.6 6.5 6.1 2.3 SE4.5 5.6 8.7 12.4 13.6 9.2 9.7 14.5 17.1 10.6 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.Flags:b:Break in series. p:Provisional. 1)2022:dataforLuxembourgarepreliminaryestimatesuntilthefinalstructuralbusinessstatisticssurveyfor2022becomesavailable.2)2016:thedeclineforIErelativeto2015predominantlyreflectsrestructuringandre-domiciling activities of large multinational companies.Source: European Commission, Eurostat 
 
 
 
 
Table 3.12: Private sector debt, consolidated (% of GDP) 

56 

2013201420152016201720182019202020212022EU143.5 141.2 140.9 139.8b136.6 135.5 135.2 146.2 140.9 133.0p   EA144.9 142.6 142.3 140.8 137.6 137.0 136.8 148.6 143.2 136.2pBE162.8 160.9 173.6 193.4 185.5 180.3 178.5 182.8 172.4 161.4pBG130.1 125.1 108.8 104.0 98.7 95.0 90.8 92.1 84.0 74.6 CZ84.8 83.0 78.2 80.4 80.3 83.0 78.6 81.7 78.8 76.1 DK216.1 214.0 211.4 222.4b216.7 215.3 221.2 217.1 206.9 188.0 DE114.9 107.1 106.3 107.2 106.6 109.1 112.2p120.9p120.4p118.4pEE116.7 116.9 113.3 111.9 106.2 101.2 98.3 101.5 96.9 94.3 IE266.3 275.9 303.2 284.6 248.5 230.2 209.5 190.3 168.1 147.1 EL133.4 132.4 129.1 127.0 120.4 119.1 110.4 125.6 122.0p100.8pES178.1 167.4 155.7 147.7 139.2 133.1 129.0 147.9 137.7p123.5pFR137.4 141.5 142.8 143.2 145.0 148.4 153.1 173.9 167.5p163.9pHR114.5 114.7 109.6 102.3 96.0 92.3 88.4 97.2 86.7 79.3pIT122.0 119.8 116.0 112.1 109.4 107.7 106.0 118.4 111.3 105.5 CY340.2 351.1 345.3 326.6 303.6 281.8 265.5 267.2 242.1 213.4pLV90.7 82.2 78.3 78.3 75.6 69.8 66.4 65.2 58.5 52.5 LT56.6 54.1 55.2 56.6 56.2 56.1 55.2 54.3 53.6 51.4 LU296.8 313.2 322.7 303.7 289.4 289.2 298.4 327.8 343.9 325.5pHU95.6 91.4 83.8 76.8 69.9 68.7 67.4 77.0 80.9 78.8pMT147.3 140.2 131.2 134.2 124.3 120.6 129.3 142.7 132.7 121.8 NL256.6 266.0 261.5 257.8 247.6 241.3 229.9 233.1 223.7 210.1pAT127.1 124.8 124.0 123.3 122.3 122.9 121.5 130.6 130.7 121.9 PL76.5 79.0 79.1 82.3 77.3 76.7 74.2 76.1 71.3 63.5 PT201.6 190.1 179.3 169.3 163.0 155.1 149.5 163.7 156.6 141.1pRO67.2 62.0 58.0 54.6 51.3 47.1 46.5 48.0 47.8 43.3pSI107.2 97.9 87.4 81.0 76.1 72.5 68.5 69.5 66.2 66.0 SK75.0 78.8 80.2 87.9 89.8 90.5 91.8 94.8 92.6 92.7 FI147.0 148.8 152.1 148.1 147.7 143.9 146.1 152.7 150.5 144.7 SE193.8 193.8 192.5 195.0 201.1 197.0 199.7 212.7 214.5 207.3 TheprivatesectordebtisthestockofliabilitiesheldbythesectorsNon-financialcorporations(S.11),HouseholdsandNon-profitinstitutionsservinghouseholds(S.14_S.15).TheinstrumentstakenintoaccountareDebtsecurities(F.3)andLoans(F.4).Dataarepresentedinconsolidatedterms,i.e.donottakingintoaccounttransactionswithinthesamesectorandareexpressedinpercentageofGDP.TheindicatorisbasedonNationalaccountsdata.Definitions regarding sectors and instruments are based on the ESA 2010 transmission programme.Flags:b:Break in series. p:Provisional. 1)2015:significantincreasesforIEduetore-domicilingoflargemultinationalcorporationsandmovementoflargepartsoftheirbalancesheets;2016:thedeclineforIErelativeto2015predominantlyreflectsrestructuringandre-domiciling activities of large multinational companies.Source: European Commission, Eurostat 
 
 
 
 
Table 3.13: General government gross debt (% of GDP) 

57 

2013201420152016201720182019202020212022EU86.8 86.9 85.1 84.3 81.9 79.8 77.7 90.0 87.4 83.5    EA93.0 93.2 91.3 90.4 88.1 86.1 84.1 97.2 94.7 90.9 BE105.5 107.0 105.2 105.0 102.0 99.9 97.6 111.8 108.0 104.3 BG17.0 27.0 25.9 29.1 25.1 22.1 20.0 24.6 23.9 22.6 CZ44.4 41.9 39.7 36.6 34.2 32.1 30.0 37.7 42.0 44.2 DK44.0 44.3 39.8 37.2 35.9 34.0 33.7 42.3 36.0 29.8 DE78.3 75.3 71.9 69.0 65.2 61.9 59.6 68.8 69.0 66.1 EE10.2 10.6 10.1 10.0 9.1 8.2 8.5 18.6 17.8 18.5 IE120.1 104.0 76.5 74.4 67.4 62.9 57.1 58.1 54.4 44.4 EL178.2 180.3 176.7 180.5 179.5 186.4 180.6 207.0 195.0 172.6 ES100.5 105.1 103.3 102.7 101.8 100.4 98.2 120.3 116.8 111.6 FR93.4 94.9 95.6 98.0 98.1 97.8 97.4 114.6 112.9 111.8 HR80.0 83.6 83.0 79.5 76.3 73.1 70.9 86.8 78.1 68.2 IT132.5 135.4 135.3 134.8 134.2 134.5 134.2 154.9 147.1 141.7 CY103.7 108.8 107.5 103.2 93.2 98.5 93.0 114.9 99.3 85.6 LV40.3 41.6 37.0 40.3 38.9 37.0 36.7 42.2 44.0 41.0 LT38.7 40.5 42.5 39.7 39.1 33.7 35.8 46.2 43.4 38.1 LU22.4 21.9 21.1 19.6 21.8 20.9 22.4 24.6 24.5 24.7 HU77.2 76.5 75.8 74.9 72.1 69.1 65.3 79.3 76.7 73.9 MT66.4 62.1 56.2 54.7 47.8 43.4 40.0 52.2 54.0 52.3 NL67.7 67.9 64.7 61.9 57.0 52.4 48.6 54.7 51.7 50.1 AT81.3 84.0 84.9 82.8 78.5 74.1 70.6 83.0 82.5 78.4 PL57.1 51.4 51.3 54.5 50.8 48.7 45.7 57.2 53.6 49.3 PT131.4 132.9 131.2 131.5 126.1 121.5 116.6 134.9 124.5 112.4 RO37.8 39.2 37.8 37.9 35.3 34.5 35.1 46.8 48.5 47.2 SI70.0 80.3 82.6 78.5 74.2 70.3 65.4 79.6 74.4 72.3 SK54.7 53.5 51.7 52.3 51.5 49.4 48.0 58.9 61.1 57.8 FI60.6 64.5 68.3 68.0 66.0 64.8 64.9 74.7 72.5 73.3 SE40.3 45.0 43.7 42.2 41.4 39.6 35.6 39.9 36.5 32.9 Debtmeanstotalgrossdebtatnominal(face)valueoutstandingattheendoftheyearandconsolidatedbetweenandwithinthegeneralgovernment(asdefinedinthecurrentProtocol12,annexedtothe2012consolidatedversionoftheTreatyontheFunctioningoftheEuropeanUnion).ThisdefinitionissupplementedbyCouncilRegulation(EC)No479/2009,asamendedbytheCommissionRegulation(EU)No220/2014.ThestockofgovernmentdebtintheExcessiveDeficitProcedure(EDPdebt)isequaltothesumofliabilities,attheendofyear,ofallunitsclassifiedwithinthegeneralgovernment(S.13)intheinstrumentscurrencyanddeposits(F.2),debtsecurities(F.3)andloans (F.4). The MIP  Scoreboard indicator is expressed in % of GDP. Data source from Government finance statistics.Source: European Commission, Eurostat 
 
 
 
 
Table 3.14: Unemployment rate (3 year average) 

58 

2013201420152016201720182019202020212022EU10.9 11.2 10.9 10.2 9.3 8.3 7.5 7.1 7.0 6.8    EA11.3 11.8 11.6 10.9 10.1 9.1 8.3 7.9 7.8 7.5 BE7.8 8.3 8.7 8.4 7.9b7.0b6.2b5.8 5.9 5.9 BG13.2b13.2 12.1 10.4 8.6 7.3 6.2 5.8 5.5 5.2 CZ6.9b6.7 6.1 5.1 4.0 3.0 2.4 2.3 2.5 2.5 DK7.7 7.4 6.9 6.4b6.0b5.6b5.3b5.2 5.2 5.1 DE5.2b4.9 4.7 4.3 4.0 3.6 3.3 3.3b3.5b3.5bEE10.3 8.6 7.4 6.8 6.3 6.0 5.2 5.6 5.9 6.2 IE14.9 13.7 11.9 10.1 8.3 7.0 5.8 5.6 5.7 5.5 EL23.6 26.4 26.5 25.2 23.6 21.8 19.8 18.4 16.7 14.9 ES24.1 25.1 24.2 22.1 19.6 17.4 15.5 15.0 14.8d14.4dFR9.8 10.1 10.3 10.2 9.9 9.5 8.9 8.5 8.1d7.7dHR15.7 16.9 16.9 15.5 13.5 10.9 8.8 7.5 7.2 7.4 IT10.6 12.1 12.4 12.2 11.7 11.2 10.6 9.9 9.6 9.0 CY11.9 14.6 15.7 14.7 13.0 10.8 8.9 7.7 7.4 7.3 LV14.4 12.6 10.9 10.2 9.4 8.6 7.5 7.3 7.3 7.5 LT13.5 12.0 10.5 9.2 8.0 7.1 6.5 7.0 7.3 7.2 LU5.3 5.6 6.2b6.3b6.2b5.8 5.6 6.0 5.9 5.6 HU10.4 9.3 8.0 6.4 5.2 4.2 3.6 3.7 3.8 3.9 MT6.2 6.0 5.7 5.3 4.7 4.1 3.8 3.9 3.8 3.6 NL7.0 7.8 8.2 7.8 6.9 5.9 5.1 4.7 4.5 4.2 AT5.3 5.6 5.9 6.2 6.2 5.9 5.3 5.3 5.7 5.7 PL10.3 10.1 9.2 7.7 6.3 5.1 4.1 3.5 3.3 3.2 PT15.8 16.1 14.9 13.0 11.2 9.3 7.7 7.0 6.8 6.5 RO8.9 8.8 8.7 8.1 7.2 6.2 5.4 5.4 5.5 5.8 SI9.1 9.6 9.6 8.9 7.9 6.6 5.4 4.8 4.7 4.6 SK13.8b13.7 12.9 11.4 9.7 8.1 6.8 6.3 6.4 6.5 FI8.1 8.3 8.8 9.0 9.0 8.4 7.7 7.3 7.4 7.4 SE8.1 8.1 8.0 7.6 7.2 6.8b6.8b7.3b8.1 8.3 Theunemploymentrateisthenumberofunemployedpersonsexpressedasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed).Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werenotemployedduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhe3-yearbackwardmovingaverage.ThedatasourceisthequarterlyEULabourForceSurvey(EU-LFS),which covers the resident population in private households.Flags:b:Break in series. d:Definition differs. 1)2021-2022,d=SpainandFrancehaveassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,butareexpectedtoreturntothesamejobonceCOVID-19healthmeasuresallowit.2)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.3)2018,SE:b=followingthedetectionofqualitydeficiencies,onlyhalfofthesampleused.4)2017,b=changeinthesurvey methodology for BE; b = Labour Force Survey data collection improvement, introduction of CAWI (starting with 2016) for DK. 5) 2015, b = change in sampling strategy and data collection technique for LU.Source: European Commission, Eurostat 
 
 
 
 
Table 3.15: Unemployment rate (%) 

59 

2013201420152016201720182019202020212022EU11.6 11.0 10.2 9.3 8.3 7.4 6.8 7.2 7.1 6.2    EA12.2 11.7 11.0 10.1 9.1 8.2 7.6 8.0 7.7 6.8 BE8.6 8.7 8.7 7.9 7.2b6.0 5.5 5.8 6.3 5.6 BG13.9 12.4 10.1 8.6 7.2 6.2 5.2 6.1 5.3 4.3 CZ7.0 6.1 5.1 4.0 2.9 2.2 2.0 2.6 2.8 2.2 DK7.4 6.9 6.3 6.0b5.8b5.1 5.0 5.6 5.1 4.5 DE5.0 4.7 4.4 3.9 3.6 3.2 3.0 3.7b3.7 3.1 EE8.6 7.3 6.4 6.8 5.8 5.4 4.5 6.9 6.2 5.6 IE13.8 11.9 9.9 8.4 6.7 5.8 5.0 5.9 6.2 4.5 EL27.8 26.6 25.0 23.9 21.8 19.7 17.9 17.6 14.7 12.5 ES26.1 24.5 22.1 19.6 17.2 15.3 14.1 15.5 14.8d12.9dFR10.3 10.3 10.3 10.1 9.4 9.0 8.4 8.0 7.9d7.3dHR17.3 17.3 16.2 13.1 11.2 8.5 6.6 7.5 7.6 7.0 IT12.4 12.9 12.0 11.7 11.3 10.6 9.9 9.3 9.5 8.1 CY15.9 16.1 15.0 13.0 11.1 8.4 7.1 7.6 7.5 6.8 LV11.9 10.9 9.9 9.7 8.7 7.4 6.3 8.1 7.6 6.9 LT11.8 10.7 9.1 7.9 7.1 6.2 6.3 8.5 7.1 6.0 LU5.9 5.9 6.7b6.3 5.5 5.6 5.6 6.8 5.3 4.6 HU9.8 7.5 6.6 5.0 4.0 3.6 3.3 4.1 4.1 3.6 MT6.1 5.7 5.4 4.7 4.0 3.7 3.6 4.4 3.4 2.9 NL8.2 8.4 7.9 7.0 5.9 4.9 4.4 4.9 4.2 3.5 AT5.7 6.0 6.1 6.5 5.9 5.2 4.8 6.0 6.2 4.8 PL10.6 9.2 7.7 6.3 5.0 3.9 3.3 3.2 3.4 2.9 PT17.2 14.6 13.0 11.5 9.2 7.2 6.7 7.0 6.6 6.0 RO9.0 8.6 8.4 7.2 6.1 5.3 4.9 6.1 5.6 5.6 SI10.1 9.7 9.0 8.0 6.6 5.1 4.4 5.0 4.8 4.0 SK14.1 13.1 11.5 9.6 8.1 6.5 5.7 6.7 6.8 6.1 FI8.3 8.7 9.4 8.9 8.7 7.5 6.8 7.7 7.7 6.8 SE8.2 8.1 7.6 7.1 6.8 6.5b7.0 8.5 8.8 7.5 Theunemploymentrateisthenumberofunemployedpersonsexpressedasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed).Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werenotemployedduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthe reference week or have already found a job to start within the next three months. The data source is the quarterly EU Labour Force Survey (EU-LFS), which covers the resident population in private households.Flags:b:Break in series. d:Definition differs. 1)2021-2022,d=SpainandFrancehaveassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,butareexpectedtoreturntothesamejobonceCOVID-19healthmeasuresallowit.2)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.3)2018,SE:b=followingthedetectionofqualitydeficiencies,onlyhalfofthesampleused.4)2017,b=changeinthesurvey methodology for BE; b = Labour Force Survey data collection improvement, introduction of CAWI (starting with 2016) for DK. 5) 2015, b = change in sampling strategy and data collection technique for LU.Source: European Commission, Eurostat 
 
 
 
Table 3.16: Total financial sector liabilities, non-consolidated (1 year % change) 

60 

2013201420152016201720182019202020212022EU-1.1 9.8 5.2 4.9b2.7 0.4b6.9b7.0 8.8 -2.3p   EA-1.5 10.1 5.5 4.4 2.4 0.6b6.5b6.7 8.6 -2.4pBE1.2 2.6 2.6 2.7 1.3 -3.9 5.8 8.0 8.1 -2.7 BG1.1 7.9 9.6 9.5 7.1 6.6 5.3 10.6 9.6 12.0 CZ10.1 5.2 7.9 16.8 28.3 3.4 4.6 4.8 7.8 3.2 DK1.8 7.3 -0.9 15.4b2.5 -0.3 13.4 5.6 11.6 -1.6 DE-6.4 5.3 3.1 5.4 4.1 3.2 7.3 11.4 7.2 1.5 EE11.4 12.6 7.5 8.9 12.3 6.6 11.6 18.0 18.5 1.6 IE1.8 18.9 9.7 1.8 4.2 5.1 15.4 7.6 18.9 -4.0 EL-17.5 -8.1 6.3 -10.3 -13.0 -4.7 11.6 27.7 14.3 -0.5 ES-10.7 0.1 -1.5 2.0 4.4 -1.3 1.7 10.5 6.3 -4.5 FR0.5 5.6 2.2 4.9 4.3 1.8b6.5b11.7 8.3 -1.3pHR2.6 1.0 0.8 3.8 4.2 4.9 6.5 7.2 11.8 9.5 IT-2.3 1.0 1.4 3.3 1.9 -0.1 4.1 7.4 8.0 -5.7 CY-3.1 11.6 9.7 -0.2 0.8 -1.7 7.5 -7.0 3.6 -2.3 LV5.7 10.9 13.3 4.7 6.2 -3.5 4.6 10.6 13.3 4.1 LT-1.3 16.7 7.1 15.8 13.9 8.2 6.2 32.6 22.6 1.0 LU10.1 39.0 17.2 5.0 0.3 -1.3 3.7 -2.2 13.1 -4.9 HU-1.2 8.7 0.4 19.5 -7.1 -9.1 36.8 55.0 16.5 8.6 MT0.0 6.0 3.6 3.7 7.4 2.2 64.4 4.9 11.1 5.9 NL-1.6 8.0 4.0 7.4 0.5 -2.8 8.0 1.4 0.2 -3.7pAT-3.2 -0.8 -0.1 -3.5 4.4 -1.0 3.5 11.8 8.2 -3.0 PL6.0 1.7 2.9 9.2 4.7 3.2 4.2 11.6 12.3 3.0 PT-5.2 -7.3 -1.4 -0.4 1.3 0.4 -0.2 6.6 7.6 -4.0 RO0.8 1.2 4.1 7.0 8.2 3.4 10.3 13.4 14.3 8.2 SI-10.1 -0.1 -3.8 3.4 5.3 4.1 9.9 14.0 14.1 -1.4 SK1.4 9.4 10.4 8.6 16.6 9.6 6.4 9.6 23.7 -9.3 FI-11.5 9.4 1.4 3.8 -4.1 20.1 7.8 8.0 9.1 1.7 SE9.8 13.2 1.7 8.6 6.9 -1.8 11.8 10.4 11.2 3.7 1) 2018: the increase for FI is largely explained by international group changes in the deposit-taking corporations sector.Source: European Commission, EurostatThetotalFinancialcorporationssectorliabilitiesmeasurestheevolutionofthesumofliabilities,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.DefinitionsregardingsectorsandinstrumentsarebasedontheESA2010 transmission programme.Flags:b:Break in series. p:Provisional.  
 
 
 
 
Table 3.17: Total financial sector liabilities, non-consolidated (Millions NC) 

61 

2013201420152016201720182019202020212022EU69379480.3 76160771.8 80143701.5 84033254.4b86274386.4 86583941.3b92572804.4b99058622.4 107763526.6 105243451.8p   EA63624216.2 70080613.7 73926545.0 77184994.7 79066710.3 79562233.0b84768567.4b90412089.5 98173863.0 95778169.1pBE2207714.4 2265232.1 2324491.5 2386899.7 2418027.2 2324584.3 2458353.8 2653909.2 2867697.4 2791477.4 BG136284.7 147052.7 161148.8 176529.1 189132.5 201598.5 212183.9 234774.4 257232.3 288017.7 CZ8040729.0 8458862.0 9126720.0 10657615.0 13670621.0 14137169.0 14783576.0 15494527.0 16695920.0 17233986.0 DK15027912.0 16127830.0 15986470.0 18447205.0b18914372.0 18863498.0 21395224.0 22601493.0 25225357.0 24816766.0 DE12340702.0 12995675.0 13397886.0 14121117.0 14701718.0 15172997.0 16276654.0 18127994.0 19431258.0 19716937.0 EE34475.0 38809.1 41738.4 45448.2 51021.6 54394.6 60683.3 71577.8 84842.7 86191.5 IE3647447.0 4338523.0 4758784.0 4842821.0 5047585.0 5307508.0 6124226.0 6590074.0 7837738.0 7522551.0 EL510139.2 468634.5 498185.3 446688.6 388838.5 370696.6 413641.9 528112.3 603618.7 600388.1 ES4459680.0 4464488.0 4395543.0 4481425.0 4680359.0 4621098.0 4697700.0 5191085.0 5520541.0 5269956.0 FR12402374.0 13091478.0 13376008.0 14035900.0 14634292.0 14899144.0b15861708.0b17723506.0 19197704.0 18944006.0pHR85922.4 86754.0 87485.3 90768.6 94537.3 99167.5 105649.7 113230.7 126602.9 138675.7 IT5780997.0 5835925.0 5917623.0 6111020.0 6226020.0 6222753.0 6480093.0 6962638.0 7517042.0 7088841.0 CY439020.1 489935.9 537509.3 536235.7 540773.7 531603.1 571448.7 531377.9 550542.4 537621.0 LV41703.0 46262.0 52437.0 54887.0 58308.0 56248.0 58812.0 65030.0 73658.0 76643.0 LT35823.1 41793.1 44779.4 51840.0 59036.3 63854.6 67812.1 89948.6 110321.2 111375.5 LU9065466.9 12599920.4 14771433.1 15504900.6 15553521.1 15348042.5 15916914.3 15562685.4 17600230.4 16739240.2 HU89822482.0 97616450.0 98017603.0 117115734.0 108794830.0 98869780.0 135243379.0 209675347.0 244222797.0 265339092.0 MT234145.8 248096.7 256987.9 266562.9 286288.9 292463.4 480888.6 504511.0 560666.7 593969.5 NL9044746.0 9770506.0 10160233.0 10912155.0 10967091.0 10662261.0 11511396.0 11667075.0 11690307.0 11254256.0pAT1491604.4 1479310.2 1477350.5 1426002.1 1488477.3 1474233.0 1526528.5 1706651.3 1847256.3 1791097.3 PL2680988.0 2727713.0 2805480.0 3064957.0 3207714.0 3311719.0 3452171.0 3852744.0 4328309.0 4459759.0 PT874230.4 810743.8 799382.0 796169.1 806548.3 809564.2 807632.1 860861.7 926101.8 888863.6 RO634055.0 641824.0 667914.0 714759.0 773601.0 799619.0 881905.0 1000180.0 1142944.0 1236421.0 SI66869.0 66769.0 64263.0 66455.0 69978.0 72823.0 80006.0 91226.0 104059.0 102560.0 SK97880.9 107034.9 118179.8 128314.9 149570.4 163999.2 174523.2 191245.6 236518.2 214624.1 FI764312.0 836122.0 847431.0 879687.0 843518.0 1013166.0 1092547.0 1179611.0 1286839.0 1308932.0 SE20271388.0 22946509.0 23332228.0 25331559.0 27074749.0 26595908.0 29729395.0 32831920.0 36494319.0 37833487.0 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.DefinitionsregardingsectorsandinstrumentsarebasedontheESA2010 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 

2013201420152016201720182019202020212022EU1.1 1.3 1.1 1.1 1.2 1.3 1.3 0.0 0.8 1.3    EA0.8 1.0 0.7 0.8 0.8 0.9 0.9 -0.5 0.3 0.9 BE-0.1 1.0 0.7 0.1 0.2b0.9 1.4 0.4b1.1 1.4 BG1.7b3.1b2.2 0.4 2.3 2.2 4.5 0.9 0.6 0.5 CZ2.7 3.0b2.4 2.1 2.4 2.6 1.7 0.5 0.0 0.5 DK-1.4 -1.2 -0.3 0.9b1.3b1.3 1.6b1.1b1.4 1.3 DE1.0b0.5b0.4 0.3 0.5 1.1 1.3 0.3b1.0 1.4 EE1.2 0.7 1.4 2.1 3.3 2.3 1.3 0.4 -0.2 2.0 IE0.2 0.6 0.9 0.8 0.8 0.8 0.6 -1.8 1.8 3.5 EL-0.3 0.2 0.4 0.8 0.9 0.4 0.3 -2.9 -0.8 0.9 ES0.8 0.3 0.0 -0.1 -0.3 -0.6 -0.4 -1.7 0.0d0.2dFR0.8 1.2 0.8 0.5 0.4 0.6 0.3 -0.4 0.2d1.0dHR-1.4 2.0 3.0 1.9 0.3 -0.6 0.9 0.7 2.4 3.4 IT1.3 1.9 0.8 1.9 1.7 1.8 0.9 -1.8 -1.1 -0.2 CY0.0 0.8 0.4 -0.2 -0.4 1.1 2.6 1.9 1.7 2.2 LV1.1 1.8 1.4 2.4 2.5 1.9 1.1 1.1 -1.8 -0.5 LT2.2 2.3 2.3 3.1 2.2 3.2 2.5 2.6 0.9 0.6 LU1.7 2.9 1.5b0.1 -0.6 0.2b2.0 2.0 2.1 1.5 HU2.7 4.3 4.8 5.4 4.3 3.6 2.6 2.0 2.1 2.5 MT5.9 6.0 4.9 4.3 4.4 5.9 5.3 4.9 3.5 4.1 NL1.5 0.9 0.6 0.3 0.7 0.6 1.2 1.2 1.0 1.3 AT1.1 0.9 0.4 0.8 1.1 1.3 0.7 -0.4 0.1 0.5 PL2.0b2.5 2.0 2.4 2.3 2.6 2.1 1.4 3.4 3.6 PT-0.3 0.1 1.0 1.5 2.0 2.2 2.2 0.0 0.7 1.5 RO0.5 1.7 2.3 2.3 3.0 2.5 3.1 2.3 3.2 3.5 SI-0.8 0.7 1.4 1.1 3.2 3.2 3.5 0.2 0.6 1.6 SK1.3 1.6b1.6 2.1 1.9 1.5 0.8 0.4 0.2 1.4 FI0.9 0.6 0.4 0.6 1.2 2.2 2.3 1.5 1.8 2.5 SE2.1 1.6 1.5 1.0 1.0 0.9b0.8 0.0 0.6b1.0 Flags:b:Break in series. d:Definition differs. 1)2021-2022,d=SpainandFrancehaveassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,butareexpectedtoreturntothesamejobonceCOVID-19healthmeasuresallowit.2)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.3)2018,SE:b=followingthedetectionofqualitydeficiencies,onlyhalfofthesampleused.4)2017,b=changeinthesurvey methodology for BE; b = Labour Force Survey data collection improvement, introduction of CAWI (starting with 2016) for DK. 5) 2015, b = change in sampling strategy and data collection technique for LU.Source: European Commission, EurostatTheactivityrateisthepercentageofthetotalpopulationbeinginthelabourforce.Forthepurposesofthelabourmarketstatistics,peopleareclassifiedasemployed,unemployedoroutsidethelabourforce.Thelabourforceisthesumofemployedandunemployedpersons.TheMIPScoreboardindicatorcoversthe15-64agegroupandiscalculatedasthe3-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 

2013201420152016201720182019202020212022EU70.8 71.2 71.5 71.9 72.4 72.8 73.2 72.4 73.6 74.5    EA71.9 72.2 72.4 72.7 73.0 73.3 73.6 72.5 73.6 74.5 BE67.6 67.8 67.7 67.7 68.0b68.6 69.1 68.4 69.7 70.5 BG68.2 68.9 69.2 68.6 71.2 71.4 73.1 72.1 72.0 73.6 CZ72.9 73.5 74.0 75.0 75.9 76.6 76.7 76.4 76.6 77.2 DK76.6 76.6 76.9 77.5b77.9b78.2 79.1 79.0 79.6 80.4 DE76.4 76.5 76.4 76.7 77.0 77.5 78.0 77.3b78.5 79.4 EE75.8 75.9 77.0 77.9 79.2 79.3 79.2 79.6 79.1 81.2 IE71.8 71.8 72.0 72.6 72.6 72.8 73.2 70.8 74.6 76.7 EL67.4 67.3 67.7 68.2 68.2 68.1 68.5 65.3 67.3 69.4 ES74.3 74.2 74.3 74.2 73.9 73.7 73.8 72.2 73.7d74.0dFR71.8 72.0 72.2 72.3 72.4 72.8 72.6 72.0 73.0d73.6dHR63.7 66.1 66.9 65.6 66.4 66.3 66.5 67.1 68.7 69.9 IT62.9 63.6 63.8 64.8 65.3 65.6 65.7 63.5 64.5 65.5 CY73.6 74.3 73.9 73.4 73.9 75.0 76.0 75.8 76.7 78.2 LV73.8 74.4 75.7 76.2 76.9 77.6 77.3 78.0 75.8 76.8 LT72.4 73.7 74.1 75.5 75.9 77.3 78.0 78.5 78.2 78.6 LU69.9 70.8 70.9b70.0 70.2 71.1 72.0 72.2 73.2 73.5 HU66.7 68.8 70.5 72.1 73.1 74.1 74.7 75.1 76.2 77.2 MT66.3 67.8 68.8 70.6 72.2 74.7 75.9 77.1 78.2 80.0 NL81.9 81.5 82.1 82.2 82.2 82.7 83.4 83.4 83.7 84.7 AT75.8 75.7 75.8 76.6 76.8 77.1 77.3 76.4 77.2 77.8 PL65.4 66.4 66.8 67.8 68.7 69.4 69.9 70.1 72.8 73.5 PT71.2 71.8 72.3 72.7 73.8 74.5 74.9 73.8 75.2 76.4 RO57.9 58.8 59.9 60.2 61.8 62.4 63.3 64.1 65.6 66.8 SI70.0 70.4 71.2 71.1 73.6 74.4 74.6 73.8 75.0 76.2 SK71.8 72.2 72.9 73.9 74.1 74.4 74.7 74.5 74.6 76.1 FI74.4 74.6 74.8 75.0 75.8 77.0 77.3 77.3 78.8 79.8 SE80.7 81.1 81.4 81.7 82.1 82.3b82.5 82.1 82.9 83.5 Theactivityrateisthepercentageofthetotalpopulationbeinginthelabourforce.Forthepurposesofthelabourmarketstatistics,peopleareclassifiedasemployed,unemployedoroutsidethelabourforce.Thelabourforceisthesum of employed and unemployed persons. The indicator covers the 15-64 age group. The data source is the quarterly EU Labour Force Survey (EU-LFS). The survey covers the resident population in private households.Flags:b:Break in series. d:Definition differs. 1)2021-2022,d=SpainandFrancehaveassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,butareexpectedtoreturntothesamejobonceCOVID-19healthmeasuresallowit.2)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.3)2018,SE:b=followingthedetectionofqualitydeficiencies,onlyhalfofthesampleused.4)2017,b=changeinthesurvey methodology for BE; b = Labour Force Survey data collection improvement, introduction of CAWI (starting with 2016) for DK. 5) 2015, b = change in sampling strategy and data collection technique for LU.Source: European Commission, Eurostat 
 
 
 
 
Table 3.20: Long-term unemployment rate - % of active population aged 15-74 (3 year change in pp) 

64 

2013201420152016201720182019202020212022EU1.4 1.1 0.0 -1.1 -1.7 -1.8 -1.6 -1.2 -0.3 -0.3    EA1.6 1.4 0.3 -1.0 -1.7 -1.8 -1.7 -1.4 -0.4 -0.4 BE-0.2 0.8 0.9 0.2 -0.8b-1.4 -1.6 -1.0 0.0 0.2 BG2.7 0.6 -1.1 -2.9 -3.5 -2.5 -2.1 -1.2 -1.0 -0.6 CZ0.0 0.0 -0.6 -1.3 -1.7 -1.7 -1.1 -0.4 0.1 0.0 DK0.4 -0.1 -0.5 -0.6b-0.5b-0.6 -0.4 -0.3 0.0 -0.3 DE-0.9 -0.5 -0.4 -0.6 -0.7 -0.6 -0.5 -0.4b-0.2 -0.2 EE-3.7 -3.7 -3.0 -1.6 -1.3 -1.1 -1.3 -0.8 0.3 0.4 IE1.0 -2.2 -3.9 -3.7 -3.6 -3.2 -2.6 -1.6 -0.3 -0.3 EL11.5 9.5 3.3 -1.3 -3.2 -3.9 -4.1 -3.8 -3.3 -3.6 ES5.7 4.0 0.4 -3.5 -5.2 -5.0 -4.2 -2.7 -0.2d-0.3dFR0.5 0.6 0.5 0.2 -0.2 -0.6 -0.8 -1.0 -0.2d-0.3dHR4.4 1.7 0.0 -4.4 -5.5 -6.8 -4.2 -2.5 -0.6 0.0 IT3.1 3.6 1.4 -0.3 -1.3 -0.9 -1.2 -1.8 -1.1 -1.3 CY4.8 6.1 3.2 -0.3 -3.2 -4.1 -3.7 -2.4 -0.1 0.2 LV-3.4 -4.7 -3.7 -1.9 -1.5 -1.5 -1.7 -1.2 -1.1 -0.7 LT-2.3 -3.2 -2.7 -2.1 -2.1 -1.9 -1.1 -0.2 0.6 0.4 LU0.5 0.2 0.3b0.4 0.5 -0.5 -0.9 -0.4 0.4 0.0 HU-0.5 -1.5 -1.8 -2.5 -2.0 -1.6 -1.2 -0.5 -0.1 0.1 MT-0.6 -1.0 -1.1 -1.1 -0.9 -0.9 -1.5 -0.9 -0.9 0.1 NL1.2 1.3 1.0 0.0 -1.0 -1.5 -1.4 -1.0 -0.4 -0.2 AT0.1 0.4 0.5 0.8 0.4 -0.3 -1.0 -0.6 0.3 -0.2 PL1.4 0.2 -1.2 -2.3 -2.4 -2.0 -1.5 -0.9 -0.1 0.2 PT3.4 2.2 -0.6 -3.3 -4.1 -4.3 -3.6 -2.3 -0.3 -0.1 RO0.9 -0.2 -0.1 -0.5 -1.0 -1.4 -1.4 -0.6 -0.2 0.2 SI2.0 1.6 0.4 -0.9 -2.2 -2.5 -2.4 -1.2 -0.3 -0.3 SK0.9 0.0 -2.1 -4.8 -4.8 -4.1 -2.9 -2.2 -0.8 0.2 FI-0.4 0.2 0.8 0.8 0.2 -0.9 -1.4 -1.1 -0.2 0.0 SE-0.2 0.0 0.0 -0.3 -0.3 -0.6b-0.5 -0.2 0.3 0.4 Thelong-termunemploymentrateisthenumberofpersonsunemployedfor12monthsorlongerasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed).Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werenotemployedduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhe3-yearchangeinpercentagepoints.ThedatasourceisthequarterlyEULabourForce Survey (EU LFS), which covers the resident population in private households.Flags:b:Break in series. d:Definition differs. 1)2021-2022,d=SpainandFrancehaveassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,butareexpectedtoreturntothesamejobonceCOVID-19healthmeasuresallowit.2)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.3)2018,SE:b=followingthedetectionofqualitydeficiencies,onlyhalfofthesampleused.4)2017,b=changeinthesurvey methodology for BE; b = Labour Force Survey data collection improvement, introduction of CAWI (starting with 2016) for DK. 5) 2015, b = change in sampling strategy and data collection technique for LU.Source: European Commission, Eurostat 
 
 
 
Table 3.21: Long-term unemployment rate - % of active population aged 15-74 

65 

2013201420152016201720182019202020212022EU5.4 5.4 4.9 4.3 3.7 3.1 2.7 2.5 2.8 2.4    EA5.8 5.9 5.4 4.8 4.2 3.6 3.1 2.8 3.2 2.7 BE3.5 3.9 4.0 3.7 3.1b2.6 2.1 2.1 2.6 2.3 BG7.9 7.4 6.1 5.0 3.9 3.6 2.9 2.7 2.6 2.3 CZ3.0 2.7 2.4 1.7 1.0 0.7 0.6 0.6 0.8 0.6 DK1.8 1.7 1.6 1.2b1.2b1.0 0.8 0.9 1.0 0.5 DE2.3 2.2 2.0 1.7 1.5 1.4 1.2 1.1b1.2 1.0 EE3.8 3.3 2.4 2.2 2.0 1.3 0.9 1.2 1.6 1.3 IE7.9 6.6 5.3 4.2 3.0 2.1 1.6 1.4 1.8 1.3 EL16.7 17.5 16.4 15.4 14.3 12.5 11.3 10.5 9.2 7.7 ES13.0 12.9 11.4 9.5 7.7 6.4 5.3 5.0 6.2d5.0dFR2.9 3.1 3.1 3.1 2.9 2.5 2.3 1.9 2.3d2.0dHR11.0 10.1 10.2 6.6 4.6 3.4 2.4 2.1 2.8 2.4 IT7.4 8.2 7.4 7.1 6.9 6.5 5.9 5.1 5.4 4.6 CY6.1 7.7 6.8 5.8 4.5 2.7 2.1 2.1 2.6 2.3 LV6.3 5.1 4.9 4.4 3.6 3.4 2.7 2.4 2.3 2.0 LT5.1 4.8 3.9 3.0 2.7 2.0 1.9 2.5 2.6 2.3 LU1.8 1.6 1.9b2.2 2.1 1.4 1.3 1.7 1.8 1.3 HU4.8 3.6 3.0 2.3 1.6 1.4 1.1 1.1 1.3 1.2 MT3.5 2.9 2.7 2.4 2.0 1.8 0.9 1.1 0.9 1.0 NL2.3 2.7 2.7 2.3 1.7 1.2 0.9 0.7 0.8 0.7 AT1.6 1.9 2.0 2.4 2.3 1.7 1.4 1.7 2.0 1.2 PL4.5 3.9 3.0 2.2 1.5 1.0 0.7 0.6 0.9 0.9 PT9.7 8.7 7.5 6.4 4.6 3.2 2.8 2.3 2.9 2.7 RO3.9 3.4 3.6 3.4 2.4 2.2 2.0 1.8 2.0 2.2 SI5.2 5.3 4.7 4.3 3.1 2.2 1.9 1.9 1.9 1.6 SK11.6 10.7 8.8 6.8 5.9 4.7 3.9 3.7 3.9 4.1 FI2.1 2.4 2.9 2.9 2.6 2.0 1.5 1.5 1.8 1.5 SE2.3 2.3 2.3 2.0 2.0 1.7b1.5 1.8 2.0 1.9 Thelong-termunemploymentrateisthenumberofpersonsunemployedfor12monthsorlongerasapercentageofthelabourforce(thetotalnumberofpeopleemployedandunemployed).Unemployedpersonscomprisepersonsaged15to74whofulfilallthreeofthefollowingconditions:werenotemployedduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweekorhavealreadyfoundajobtostartwithinthenextthreemonths.ThedatasourceisthequarterlyEULabourForceSurvey(EULFS),whichcoverstheresidentpopulationinprivatehouseholds.Flags:b:Break in series. d:Definition differs. 1)2021-2022,d=SpainandFrancehaveassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,butareexpectedtoreturntothesamejobonceCOVID-19healthmeasuresallowit.2)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.3)2018,SE:b=followingthedetectionofqualitydeficiencies,onlyhalfofthesampleused.4)2017,b=changeinthesurvey methodology for BE; b = Labour Force Survey data collection improvement, introduction of CAWI (starting with 2016) for DK. 4) 2015, b = change in sampling strategy and data collection 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 

2013201420152016201720182019202020212022EU2.8 1.5 -2.0 -4.5 -5.6 -5.7 -5.1 -0.9 0.0 -1.1    EA3.1 2.4 -1.2 -3.7 -5.1 -5.6 -5.2 -1.3 -0.6 -1.7 BE1.5 4.5 2.5 -3.6 -4.0b-6.5 -5.8 -3.5 2.2 1.9 BG6.4 -1.3 -6.5 -11.1 -10.8 -8.8 -8.3 1.3 -0.1 -1.4 CZ0.7 -2.2 -6.9 -8.5 -8.0 -5.9 -4.9 0.1 1.5 1.2 DK-0.8 -2.2 -3.6 -2.6b-1.8b-1.7 -2.1 -0.8 0.3 0.5 DE-2.2 -0.8 -0.9 -0.8 -1.1 -1.1 -1.3 0.8b0.4 -0.2 EE-14.0 -7.4 -6.4 -4.6 -2.8 -2.3 -2.4 6.2 4.7 7.0 IE-1.4 -6.2 -10.6 -9.9 -9.0 -6.4 -4.3 1.4 0.7 -2.4 EL25.6 7.8 -5.6 -11.0 -8.5 -9.1 -10.7 -6.5 -5.7 -6.1 ES14.0 7.0 -4.6 -11.1 -14.6 -14.0 -11.9 -0.3 0.5d-2.7dFR1.7 1.6 0.3 -0.4 -2.2 -4.1 -5.3 -2.0 -3.1d-3.4dHR17.6 8.8 0.2 -18.7 -18.1 -18.6 -14.7 -6.3 -1.8 1.4 IT12.0 13.5 5.0 -2.3 -8.1 -8.1 -8.5 -4.8 -2.5 -5.5 CY22.3 13.6 5.1 -9.8 -11.3 -12.6 -12.5 -6.5 -3.1 2.0 LV-13.0 -11.4 -12.2 -5.7 -2.6 -4.1 -4.8 -2.1 2.6 2.6 LT-13.8 -13.3 -10.4 -7.4 -6.0 -5.2 -2.6 6.3 3.2 0.0 LU1.3 5.8 -1.5b3.4 -7.2 -3.1 -1.9 7.8 2.7 0.6 HU0.2 -5.3 -10.7 -13.4 -9.6 -7.2 -1.5 2.0 3.6 -0.6 MT-0.5 -1.6 -2.2 -2.0 -1.1 -2.5 -1.4 0.3 0.3 -1.0 NL1.8 2.4 -0.4 -2.1 -3.4 -3.6 -3.6 0.2 0.4 -0.9 AT0.2 1.5 1.3 1.7 -0.5 -1.3 -2.9 1.2 1.0 0.4 PL3.6 -1.9 -5.8 -9.8 -9.2 -9.2 -7.9 -4.0 0.1 0.9 PT10.3 4.5 -6.1 -10.3 -10.9 -11.7 -9.7 -1.4 3.1 0.7 RO1.6 0.6 -0.9 -3.7 -7.0 -6.8 -4.9 -1.4 0.5 1.8 SI6.9 4.6 -4.4 -6.3 -9.2 -7.5 -7.2 3.0 3.9 2.0 SK0.0 -3.8 -7.6 -11.5 -11.0 -11.9 -6.3 0.4 4.8 2.8 FI-1.4 0.2 3.0 -0.1 -0.5 -5.2 -2.8 1.0 -0.2 -3.5 SE-1.2 0.2 -3.3 -4.6 -5.1 -2.9b1.1 6.3 7.9 2.3 Theyouthunemploymentrateisthepercentageoftheunemployedintheage15to24yearsoldcomparedtothetotallabourforce(bothemployedandunemployed)intheagegroup.Unemployedpersonscomprisepersonswhofulfilallthreeofthefollowingconditions:werenotemployedduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweeksprecedingthereferenceweek;orhavealreadyfoundajobtostartwithinthenextthreemonths.TheMIPScoreboardindicatoristhe3-yearchangeinpercentagepoints.ThedatasourceisthequarterlyEULabourForceSurvey(EU-LFS), which covers the resident population in private households.Flags:b:Break in series. d:Definition differs. 1)2021-2022,d=SpainandFrancehaveassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,butareexpectedtoreturntothesamejobonceCOVID-19healthmeasuresallowit.2)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.3)2018,SE:b=followingthedetectionofqualitydeficiencies,onlyhalfofthesampleused.4)2017,b=changeinthesurvey methodology for BE; b = Labour Force Survey data collection improvement, introduction of CAWI (starting with 2016) for DK. 5) 2015, b = change in sampling strategy and data collection technique for LU.Source: European Commission, Eurostat 
 
 
Table 3.23: Youth unemployment rate - % of active population aged 15-24   

67 

2013201420152016201720182019202020212022EU25.2 24.1 22.4 20.7 18.5 16.7 15.6 17.6 16.7 14.5    EA25.2 24.5 23.1 21.5 19.4 17.5 16.3 18.1 16.9 14.6 BE23.9 23.4 22.5 20.3 19.4b16.0 14.5 15.9 18.2 16.4 BG31.5 26.9 24.7 20.4 16.1 15.9 12.1 17.4 15.8 10.7 CZ19.0 15.9 12.6 10.5 7.9 6.7 5.6 8.0 8.2 6.8 DK14.8 14.2 12.2 12.2b12.4b10.5 10.1 11.6 10.8 10.6 DE8.3 8.3 7.7 7.5 7.2 6.6 6.2 8.0b7.0 6.0 EE18.6 14.9 14.3 14.0 12.1 12.0 11.6 18.3 16.7 18.6 IE26.7 23.4 20.2 16.8 14.4 13.8 12.5 15.8 14.5 10.1 EL59.2 53.0 50.3 48.2 44.5 41.2 37.5 38.0 35.5 31.4 ES55.5 53.2 48.3 44.4 38.6 34.3 32.5 38.3 34.8d29.8dFR26.4 25.7 26.1 26.0 23.5 22.0 20.7 21.5 18.9d17.3dHR50.0 45.5 42.3 31.3 27.4 23.7 16.6 21.1 21.9 18.0 IT40.0 42.7 40.3 37.7 34.6 32.2 29.2 29.8 29.7 23.7 CY38.9 36.0 32.8 29.1 24.7 20.2 16.6 18.2 17.1 18.6 LV23.2 19.6 16.3 17.5 17.0 12.2 12.7 14.9 14.8 15.3 LT21.9 19.3 16.3 14.5 13.3 11.1 11.9 19.6 14.3 11.9 LU15.5 22.6 17.3b18.9 15.4 14.2 17.0 23.2 16.9 17.6 HU26.1 20.1 17.1 12.7 10.5 9.9 11.2 12.5 13.5 10.6 MT12.7 11.7 11.6 10.7 10.6 9.1 9.3 10.9 9.4 8.3 NL14.2 13.8 12.5 12.1 10.4 8.9 8.5 10.6 9.3 7.6 AT10.3 11.0 11.3 12.0 10.5 10.0 9.1 11.7 11.0 9.5 PL27.6 24.1 21.0 17.8 14.9 11.8 9.9 10.9 11.9 10.8 PT38.3 34.8 32.0 28.0 23.9 20.3 18.3 22.5 23.4 19.0 RO29.6 30.0 27.3 25.9 23.0 20.5 21.0 21.6 21.0 22.8 SI21.6 20.5 16.4 15.3 11.3 8.9 8.1 14.3 12.8 10.1 SK34.9 31.0 27.7 23.4 20.0 15.8 17.1 20.4 20.6 19.9 FI20.6 20.5 22.5 20.5 20.0 17.3 17.7 21.0 17.1 14.2 SE22.9 22.3 19.7 18.3 17.2 16.8b19.4 23.5 24.7 21.7 Theyouthunemploymentrateisthepercentageoftheunemployedintheage15to24yearsoldcomparedtothetotallabourforce(bothemployedandunemployed)intheagegroup.Unemployedpersonscomprisepersonswhofulfilallthreeofthefollowingconditions:werenotemployedduringthereferenceweek;wereavailabletostartworkingwithinthetwoweeksfollowingthereferenceweek;andhavebeenactivelyseekingworkinthefourweekspreceding the reference week; or have already found a job to start within the next three months. The data source is the quarterly EU Labour Force Survey (EU-LFS), which covers the resident population in private households.Flags:b:Break in series. d:Definition differs. 1)2021-2022,d=SpainandFrancehaveassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,butareexpectedtoreturntothesamejobonceCOVID-19healthmeasuresallowit.2)2020,b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.3)2018,SE:b=followingthedetectionofqualitydeficiencies,onlyhalfofthesampleused.4)2017,b=changeinthesurvey methodology for BE; b = Labour Force Survey data collection improvement, introduction of CAWI (starting with 2016) for DK. 5) 2015, b = change in sampling strategy and data collection technique for LU.Source: European Commission, Eurostat 
 
 
Table 3.24: Real GDP (1 year % change)  

68 

2013201420152016201720182019202020212022EU-0.1 1.6 2.3 2.0 2.8 2.1 1.8 -5.6 6.0 3.4    EA-0.2 1.4 2.0 1.9 2.6 1.8 1.6 -6.1 5.9 3.4 BE0.5 1.6 2.0 1.3 1.6 1.8 2.2 -5.3 6.9 3.0pBG-0.5 0.9 3.4 3.0 2.7 2.7 4.0 -4.0 7.7 3.9 CZ0.0 2.3 5.4 2.5 5.2 3.2 3.0 -5.5 3.6 2.4 DK0.9 1.6 2.3 3.2 2.8 2.0 1.5 -2.4 6.8 2.7 DE0.4 2.2 1.5 2.2 2.7 1.0 1.1p-3.8p3.2p1.8pEE1.5 3.0 1.9 3.2 5.8 3.8 4.0 -1.0 7.2 -0.5 IE1.2 8.8 24.5 1.8 9.3 8.5 5.3 6.6 15.1 9.4 EL-2.5 0.5 -0.2 -0.5 1.1 1.7 1.9 -9.3 8.4p5.6pES-1.4 1.4 3.8 3.0 3.0 2.3 2.0 -11.2 6.4p5.8pFR0.6 1.0 1.1 1.1 2.3 1.9 1.8 -7.5 6.4p2.5pHR-0.4 -0.4 2.5 3.6 3.4 2.8 3.4 -8.6 13.8 6.3pIT-1.8 0.0 0.8 1.3 1.7 0.9 0.5 -9.0 8.3 3.7 CY-6.6 -1.8 3.4 6.6 5.7 5.6 5.5 -3.4 9.9 5.1pLV2.0 1.9 3.9 2.4 3.3 4.0 0.6 -3.5 6.7 3.4 LT3.6 3.5 2.0 2.5 4.3 4.0 4.7 0.0 6.3 2.4 LU3.2 2.6 2.3 5.0 1.3 1.2 2.9 -0.9 7.2 1.4 HU1.8 4.2 3.7 2.2 4.3 5.4 4.9 -4.5 7.1 4.6pMT5.5 7.6 9.6 3.4 10.9 7.4 7.1 -8.1 12.3 6.9 NL-0.1 1.4 2.0 2.2 2.9 2.4 2.0 -3.9 6.2 4.3pAT0.0 0.7 1.0 2.0 2.3 2.4 1.5 -6.6 4.2 4.8 PL0.9 3.8 4.4 3.0 5.1 5.9 4.4 -2.0 6.9 5.3 PT-0.9 0.8 1.8 2.0 3.5 2.8 2.7 -8.3 5.7 6.8pRO0.3 4.1 3.2 2.9 8.2 6.0 3.9 -3.7 5.7 4.6pSI-1.0 2.8 2.2 3.2 4.8 4.5 3.5 -4.2 8.2 2.5 SK0.6 2.7 5.2 1.9 2.9 4.0 2.5 -3.3 4.8 1.8 FI-0.9 -0.4 0.5 2.8 3.2 1.1 1.2 -2.4 3.2 1.6 SE1.2 2.7 4.5 2.1 2.6 2.0 2.0 -2.2 6.1 2.8 Grossdomesticproduct(GDP)atmarketpricesisthefinalresultoftheproductionactivityofresidentproducerunits.Itisdefinedasthevalueofallgoodsandservicesproducedlessthevalueofanygoodsorservicesusedintheircreation.TheESA2010(EuropeanSystemofAccounts)regulationmaybereferredtoformorespecificexplanationsonmethodology.Dataareexpressedas1-yearpercentagechangeofrealGDP,i,e,measuredinchain-linkedvolumes.Flags:p:Provisional. Source: European Commission, Eurostat 
 
 
 
Table 3.25: Gross fixed capital formation (% of GDP)   

69 

2013201420152016201720182019202020212022EU19.8 19.8 20.2 20.4 20.8 21.2 22.2 22.1 22.0 22.5    EA19.5 19.5 19.9 20.3 20.6 21.0 22.2 22.0 21.9 22.4 BE22.2 22.8 23.0 23.3 23.3 23.6 24.3 24.1 23.9 23.9pBG21.2 21.1 20.9 18.4 18.3 18.8 18.6 19.1 16.3 17.1 CZ25.4 25.4 26.5 24.9 24.9 26.3 27.1 26.5 26.0 26.8 DK19.1 19.2 19.9 21.0 21.2 21.7 21.2 22.2 22.1 21.7 DE19.9 20.0 20.0 20.3 20.4 21.1 21.3p21.5p21.3p22.1pEE27.9 25.7 24.5 24.4 25.9 27.1 27.1 29.8 29.2 27.5 IE18.6 20.6 24.0 35.9 33.0 28.4 54.3 42.1 22.3 21.6 EL11.2 10.8 10.8 11.0 11.8 11.1 10.7 12.1 13.3p13.7pES17.4 17.8 18.0 18.0 18.7 19.4 20.0 20.4 20.1p20.1pFR22.0 21.8 21.5 21.8 22.5 22.9 23.5 23.3 24.5p25.2pHR19.3 19.0 19.2 19.7 19.6 20.0 21.2 22.2 21.0 19.6pIT17.2 16.7 16.9 17.2 17.5 17.8 18.0 18.0 20.5 21.9 CY14.1 13.3 12.8 18.0 20.8 18.8 19.0 21.1 19.5 20.4pLV24.3 22.8 21.9 19.3 20.6 22.1 22.0 22.4 22.4 21.7 LT18.4 18.9 19.6 19.9 20.1 20.9 21.5 21.4 21.7 21.4 LU18.5 19.2 17.3 17.3 17.8 16.2 18.1 16.7 18.2 17.5 HU20.8 22.0 22.2 19.5 22.1 24.7 27.0 26.5 27.2 28.2pMT16.5 16.7 24.2 22.7 19.9 19.3 19.8 20.2p20.3p25.3pNL18.4 17.6 22.1 20.0 20.1 20.4 21.3 21.7 21.2 20.9pAT23.0 22.7 22.7 23.1 23.6 24.1 24.9 25.0 25.8 25.3 PL19.0 20.1 20.4 18.5 17.6 18.7 18.9 18.3 16.8 16.8 PT14.8 15.0 15.5 15.5 16.8 17.5 18.1 19.2 20.2 20.1pRO24.4 24.4 24.9 23.1 22.8 21.4 23.0 23.5 24.3 24.9pSI19.6 19.1 18.7 17.4 18.3 19.3 19.6 18.9 20.2 21.6 SK20.5 20.5 23.7 21.0 21.1 20.9 21.5 19.5 19.2 20.1 FI22.0 21.5 21.2 22.7 23.3 24.1 23.8 24.0 23.6 24.2 SE22.4 23.2 23.8 24.2 25.1 25.2 24.4 25.1 25.6 27.1 Source: European Commission, EurostatGrossfixedcapitalformation(GFCF)consistsofresidentproducers'acquisitions,lessdisposals,offixedassetsduringagivenperiodpluscertainadditionstothevalueofnon-producedassetsrealisedbytheproductiveactivityofproducerorinstitutionalunits.GFCFincludesacquisitionlessdisposalsof,e.g.buildings,structures,machineryandequipment,mineralexploration,computersoftware,literaryorartisticoriginalsandmajorimprovementstolandsuch 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.  
 
 
 
Table 3.26: Gross domestic expenditure on R&D (% of GDP)  

70 

2013201420152016201720182019202020212022EU2.1e2.1e2.1 2.1e2.2 2.2e2.2e2.3e2.3ena   EA2.1e2.1e2.1 2.1e2.2 2.2e2.3 2.3e2.3 naBE2.3 2.4 2.4 2.5 2.7 2.9 3.2 3.4 3.4 3.4pBG0.6 0.8 0.9 0.8 0.7 0.8 0.8 0.8 0.8 0.8pCZ1.9 2.0 1.9 1.7 1.8 1.9 1.9 2.0 2.0 2.0pDK3.0 2.9 3.1 3.1 2.9 3.0 2.9p3.0 2.8pnaDE2.8 2.9 2.9 2.9 3.0 3.1 3.2 3.1e3.1 3.1pEE1.7 1.4 1.5 1.2 1.3 1.4 1.6 1.8 1.8 naIE1.6e1.5 1.2 1.2 1.2 1.1e1.2 1.1 1.1 1.0eEL0.8 0.8 1.0 1.0 1.2 1.2 1.3 1.5 1.5 naES1.3 1.2 1.2 1.2 1.2 1.2 1.3 1.4 1.4 naFR2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.3 2.2 2.1pHR0.8 0.8 0.8 0.9 0.8 1.0 1.1 1.2 1.2 1.4 IT1.3 1.3e1.3 1.4b1.4 1.4 1.5 1.5 1.5 1.3pCY0.5 0.5 0.5 0.5 0.5 0.6 0.7 0.8 0.8 naLV0.6 0.7 0.6 0.4 0.5 0.6 0.6 0.7 0.7 0.7 LT0.9 1.0 1.0 0.8 0.9 0.9 1.0 1.1 1.1 1.0 LU1.2 1.2 1.3 1.3 1.2 1.2 1.2 1.1e1.0 naHU1.4 1.3 1.3 1.2 1.3 1.5b1.5 1.6 1.6 1.4 MT0.7 0.7 0.7 0.6 0.6 0.6 0.6 0.6 0.7 0.7 NL2.2b2.2 2.1 2.2 2.2 2.1 2.2 2.3 2.3 naAT3.0 3.1e3.1 3.1e3.1 3.1e3.1 3.2e3.3 3.2pPL0.9 1.0 1.0 1.0 1.0 1.2 1.3 1.4 1.4 1.5pPT1.3 1.3 1.2 1.3 1.3 1.4 1.4 1.6 1.7 1.7pRO0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 SI2.6 2.4 2.2 2.0 1.9 1.9 2.0 2.1 2.1 naSK0.8 0.9 1.2 0.8 0.9 0.8 0.8 0.9 0.9 1.0 FI3.3 3.1 2.9 2.7 2.7 2.8 2.8 2.9 3.0 3.0 SE3.3e3.1e3.2 3.2e3.4 3.3 3.4 3.5 3.4 3.4 Source: European Commission, EurostatResearchandexperimentaldevelopment(R&D)comprisecreativeandsystematicworkundertakeninordertoincreasethestockofknowledge–includingknowledgeofhumankind,cultureandsociety–andtodevisenewapplications of available knowledge (Commission Implementing Regulation (EU) 2020/1197 and OECD Frascati Manual, 2015 edition, § 2.5).Flags:b:Break in series. e:Estimated. p:Provisional.  
 
 
 
 
Table 3.27: Current plus capital account - Net lending-borrowing (% of GDP) 

71 

2013201420152016201720182019202020212022EU2.4 2.3 2.7 3.1 2.8 2.3 2.1 2.0 2.8 0.2    EA2.2 2.4 2.9 3.0 2.9 2.5 2.2 1.8 3.2 0.6 BE0.9 0.6 1.4 0.7 0.8 -0.8 0.2 1.4 1.5 -0.8 BG2.4 3.5 3.1 5.3 4.3 2.0 3.3 1.5 -1.0 -0.5 CZ1.5 0.9 2.6 2.9 2.4 0.7 0.8 3.2 -1.1 -6.0 DK7.7 8.7 7.9 7.8 8.1 7.3 8.5 8.1 9.2 13.5 DE6.5 7.3 8.6 8.7 7.8 8.0 8.1 6.8 7.7 3.7 EE2.9 1.8 3.8 2.3 3.2 2.3 4.1 0.0 6.4 -2.9 IE1.0 -2.4 3.9 -5.8 -8.2 -10.7 -29.8 -9.7 14.0 10.6 EL0.3 0.7 0.3 -1.2 -1.4 -2.7 -1.1 -5.0 -4.6 -8.8 ES2.6 2.1 2.7 3.4 3.0 2.4 2.4 1.1 1.6 1.5 FR-0.5 -1.0 -0.4 -0.4 -0.8 -0.7 0.6 -1.5 0.7 -1.6 HR-0.9 0.7 4.0 3.6 4.2 2.9 4.1 1.1 3.4 -0.3 IT1.1 2.1 1.8 2.5 2.7 2.6 3.2 3.9 2.6 -0.9 CY-0.9 -3.3 -0.4 -4.1 -4.6 -3.4 -5.7 -10.1 -5.8 -7.7 LV-0.3 1.3 2.2 2.7 2.2 1.6 0.9 4.6 -2.6 -4.0 LT4.9 6.2 0.6 0.4 1.7 1.8 5.2 9.0 2.6 -4.0 LU4.4 3.9 4.5 4.4 4.1 9.3 8.7 8.5 8.9 7.9 HU7.2 4.9 6.9 4.5 2.8 2.5 1.1 1.1 -1.6 -6.2 MT1.8 7.3 5.4 -0.2 6.5 7.2 9.8 2.8 2.2 -1.5 NL9.9 8.4 4.7 6.9 8.9 9.3 6.9 5.1 12.2 20.3 AT1.8 2.4 1.2 2.6 1.3 0.3 2.4 3.3 1.6 -0.2 PL-0.2 -1.0 1.3 0.0 0.0 -0.3 1.4 4.2 -0.6 -1.9 PT3.3 1.5 1.5 2.1 2.2 1.5 1.3 -0.1 1.0 -0.2 RO1.2 2.4 1.6 0.9 -1.9 -3.4 -3.6 -3.1 -5.1 -6.7 SI3.7 5.3 4.9 4.0 5.5 5.4 5.4 6.7 3.6 -1.4 SK3.3 2.1 1.1 -1.0 -1.8 -1.2 -2.6 1.3 -2.8 -6.2 FI-1.7 -1.2 -0.9 -1.9 -0.7 -1.8 -0.2 0.6 0.5 -2.5 SE5.0 4.1 3.0 2.2 2.7 2.5 5.4 5.9 6.8 4.9 Source: European Commission, EurostatNetlending/borrowingofacountrycorrespondstothesumoftotalcurrentandcapitalaccounts’balancesinbalanceofpayments.Itrepresentsthenetresourcesthatthetotaleconomymakesavailabletotherestoftheworld(ifitis 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).  
 
 
 
 
Table 3.28: Net international investment position excluding non-defaultable instruments (% of GDP)  

72 

2013201420152016201720182019202020212022EU-36.4e-38.1e-36.9e-34.0e-28.0e-26.2e-24.4e-25.7e-26.0e-20.5e   EA-35.6 -37.9 -37.2 -34.5 -31.9 -30.2 -28.6 -31.0 -32.0 -25.8 BE58.5 51.8 51.7 52.2 44.7 34.4 36.0 36.6 36.0 28.8 BG7.3 10.8 21.4 30.1 32.9 36.4 40.2 47.7 47.4 44.4 CZ14.8 19.0 20.3 27.6 26.5 27.8 30.2 37.3 36.9 28.4 DK-3.6 11.4 9.6 15.5 18.6 15.9 29.0 32.4 30.9 34.9 DE29.9 32.1 34.9 38.3 45.4 45.7 51.0 54.8 54.1 49.8 EE7.4 12.8 16.7 18.1 19.8 24.5 30.8 42.0 41.8 28.7 IE-310.9 -351.0 -242.6 -249.6 -263.2 -249.2 -282.9 -293.8 -323.4 -234.0 EL-130.3 -129.7 -128.5 -128.4 -128.9 -135.1 -133.5 -155.4 -151.1 -120.7 ES-69.7 -70.1 -64.8 -61.6 -57.4 -52.1 -46.0 -52.2 -39.6 -30.2 FR-26.9 -31.0 -29.7 -30.4 -33.7 -34.1 -35.2 -41.9 -39.3 -33.4 HR-48.2 -44.8 -37.9 -27.4 -18.5 -12.2 0.7 2.5 10.8 13.5 IT-23.9 -21.1 -17.4 -11.8 -5.9 -6.2 -1.0 0.4 5.6 1.6 CY-141.1 -197.0 -257.4 -226.6 -218.9 -180.9 -155.3 -110.4 -2.2 39.9 LV-22.3 -16.7 -10.4 -6.6 -2.7 1.0 6.2 14.5 19.4 16.9 LT-18.6 -16.9 -13.5 -12.6 -7.4 -2.5 5.5 15.1 22.1 21.2 LU-2546.8 -3277.8 -3587.5 -3550.5 -3726.1 -3533.7 -3971.1 -4063.1 -4598.7 -3753.7 HU-35.2 -29.5 -18.3 -12.0 -8.7 -3.9 -2.6 -2.5 -1.2 -5.3 MT216.5 205.7 191.3 213.6 226.8 229.1 231.4 265.4 114.5 111.8 NL-66.9 -45.8 -53.4 -34.0 -18.9 -16.9 -1.6 10.3 21.4 18.5 AT-11.7 -11.3 -11.3 -9.4 -4.3 -6.2 -0.6 -4.1 -2.6 -1.5 PL-26.2 -25.5 -24.1 -20.8 -18.8 -14.9 -10.7 -4.5 0.7 2.7 PT-78.1 -77.7 -72.3 -64.2 -58.4 -55.3 -46.7 -46.7 -36.3 -29.6 RO-20.5 -14.5 -12.9 -6.5 -5.6 -3.9 -4.0 -7.0 -6.5 -4.2 SI-32.8 -28.5 -19.0 -14.7 -9.6 -1.0 0.7 1.4 9.4 15.2 SK-10.5 -13.0 -13.9 -14.7 -15.1 -16.6 -14.1 -14.8 -14.4 -18.2 FI-4.6 0.1 15.2 10.2 4.8 -0.8 6.9 5.8 18.3 6.3 SE-22.3 -21.1 -12.3 -12.1 -9.5 -14.9 -11.0 -12.6 -3.0 -9.8 TheindicatorisasubsetoftheNetinternationalinvestmentposition(NIIP)thatabstractsfromitspureequity-relatedcomponents,i.e.foreigndirectinvestment(FDI)equityandequityshares,andfromintra-companycross-borderFDIdebt,andrepresentstheNIIPexcludinginstrumentsthatcannotbesubjecttodefault.TheindicatorisbasedonannualfiguresfromtheEurostatBalanceofPaymentsandisdefinedastheNIIPminusnetdirectinvestmentminusnetportfolioequity.TheindicatoriscalculatedasapercentageofGDP.Flags:e:Estimated. Source: European Commission, Eurostat 
 
 
 
Table 3.29: Direct investment  liabilities - flows (% of GDP)   

73 

2013201420152016201720182019202020212022EU5.1 1.6 7.6 3.1 2.1 -2.9 0.3 1.3 0.0 -1.8    EA6.1 2.0 8.0 2.8 2.5 -3.6 -0.4 1.2 -0.4 -2.3 BE-5.6 -2.7 -4.3 12.2 -7.2 -7.7 -3.9 -5.4 4.9 2.0 BG3.6 1.9 4.4 2.7 3.3 2.7 3.2 5.1 2.9 3.6 CZ3.5 3.9 0.9 5.5 5.2 3.4 4.3 3.4 4.6 3.6 DK0.2 2.0 0.6 2.5 1.0 2.5 -1.0 -0.1 4.3 8.6 DE1.8 0.5 1.9 1.9 3.0 4.2 1.9 4.1 2.2 1.1 EE4.4 6.6 -3.2 3.8 6.5 4.0 9.7 11.8 20.3 4.7 IE29.7 38.3 81.8 34.8 19.1 18.9 7.1 7.1 18.1 -0.1 EL1.2 1.1 0.7 1.4 1.7 1.9 2.4 1.8 3.1 3.6 ES3.5 2.3 1.9 3.6 2.5 4.0 1.8 3.0 3.9 3.6 FR1.1 0.2 1.8 1.3 1.4 2.8 2.0 0.7 3.2 3.8 HR1.6 5.2 0.0 0.8 0.9 2.0 6.3 2.2 6.8 5.0 IT0.9 0.8 0.7 1.4 0.6 2.1 1.8 -0.9 1.2 3.0 CY108.6 222.1 145.6 40.6 62.8 -2.6 203.1 -102.4 22.2 3.4 LV3.3 3.3 3.0 1.2 3.8 1.3 3.3 2.7 9.5 2.9 LT1.7 0.8 2.5 2.7 2.8 2.4 6.2 8.0 4.5 0.9 LU974.2 274.7 1106.8 92.9 -20.6 -830.1 -556.2 -178.5 -175.1 -568.7 HU-2.6 9.5 -4.3 55.2 -8.2 -42.3 60.8 109.7 17.4 -5.4 MT5.4 2.7 32.8 23.9 28.7 29.1 27.3 29.9 26.3 127.7 NL37.5 13.0 43.5 30.8 28.0 -37.4 -2.1 -22.1 -13.2 -1.7 AT0.1 0.4 -2.1 -7.5 3.2 -6.6 -2.9 -2.7 3.8 2.1 PL0.2 3.8 3.3 3.8 2.2 3.2 2.9 3.1 5.3 5.3 PT6.9 5.3 0.6 3.6 4.9 3.2 4.3 1.7 3.3 3.8 RO2.0 1.9 2.4 3.4 2.8 3.0 2.9 1.4 4.1 3.8 SI0.2 2.0 4.0 3.2 2.5 2.8 4.0 0.9 3.6 3.6 SK1.0 -0.4 1.7 5.3 4.4 2.1 2.2 -1.0 2.3 3.5 FI-1.9 6.4 7.4 2.1 6.9 -3.9 5.8 -0.8 8.0 4.8 SE0.2 -1.7 2.0 2.9 4.5 -0.2 3.1 3.5 8.4 9.0 Source: European Commission, EurostatForeigndirectinvestment(FDI)isacategoryofinvestmentthatreflectstheobjectiveofestablishingalastinginterestbyaresidententerpriseinoneeconomy(directinvestor)inanenterprise(directinvestmententerprise)thatisresidentinaneconomyotherthanthatofthedirectinvestor.Thelastinginterestisdeemedtoexistiftheinvestoracquiresatleast10%ofthevotingpowerofthedirectinvestmententerprise.Dataarepresentedaccordingtotheasset/liabilityprinciple,compiledintheframeworkofBalanceofpaymentsandareconsistentwiththecomponentsofNationalaccountsstatistics.InwardFDIflowsrepresentthevalueofFDIliabilitiesfromallcountriesoftheworldinthereportingeconomyinthereferenceperiod.DataareexpressedaspercentageofGDPtoremovetheeffectofdifferencesinthesizeoftheeconomiesofthereportingcountries.DefinitionsarebasedontheIMF'sSixthBalance of Payments Manual (BPM6).  
 
 
Table 3.30: Direct investment liabilities - stocks (% of GDP)   

74 

2013201420152016201720182019202020212022EUna61.2 72.2 74.8 72.6 68.6 68.8 71.0 69.8 64.5    EA63.3 70.9 83.4 86.2 82.9 78.7 79.4 82.2 80.3 74.5 BE231.9 226.9 225.3 221.9 201.4 187.5 185.6 182.6 168.9 153.6 BG89.2 92.8 92.6 89.4 86.5 84.6 81.2 85.2 78.1 68.4 CZ76.6 76.7 75.3 78.0 77.3 78.9 77.1 83.2 82.5 76.7 DK41.8 49.8 50.0 56.3 53.9 57.8 56.5 60.0 59.5 59.2 DE41.3 41.3 42.2 42.9 43.8 45.6 46.3 51.8 51.0 48.8 EE98.9 103.8 98.0 98.5 95.5 93.8 97.8 111.8 129.3 118.3 IE348.5 387.1 496.3 518.6 476.6 485.6 469.5 424.1 410.6 366.8 EL12.1 11.9 14.8 15.8 18.0 19.4 23.8 22.3 24.0 25.2 ES57.7 60.0 61.1 63.8 64.8 67.6 68.3 79.0 77.9 75.4 FR41.3 42.1 43.9 44.7 44.4 44.6 46.5 50.3 51.3 51.6 HR51.4 59.1 52.6 56.0 56.6 55.2 59.8 64.9 62.1 53.9 IT23.7 25.0 25.5 26.3 26.2 27.6 28.9 31.8 30.3 31.3 CY1646.3 1935.7 2124.7 2060.4 1990.4 1817.1 1879.8 1839.9 1685.1 1509.8 LV54.0 56.6 59.1 57.6 59.6 55.8 56.3 59.1 67.6 61.0 LT42.9 41.4 42.9 44.7 44.2 42.8 48.1 55.8 55.2 48.3 LU6123.9 7568.0 9525.6 9376.8 8610.3 7650.3 7011.6 6350.3 5786.3 5083.0 HU211.1 216.5 219.9 257.1 208.5 161.2 209.9 324.3 323.4 293.4 MT1898.1 1789.7 1662.6 1650.6 1532.6 1469.2 1404.9 1570.7 2764.8 2679.8 NL534.5 558.1 615.5 641.2 640.8 603.6 596.8 568.9 543.2 516.2 AT75.2 77.8 75.4 65.0 71.1 61.4 58.1 58.9 60.6 57.2 PL50.8 52.1 48.5 50.9 49.8 48.4 47.6 49.2 50.1 46.0 PT77.4 81.5 81.0 80.2 83.0 79.6 81.1 85.8 85.9 80.3 RO45.3 44.9 44.3 46.1 44.8 43.3 44.1 45.9 46.3 42.2 SI28.9 31.5 34.4 37.1 37.9 39.2 40.3 43.0 44.0 43.2 SK64.5 61.9 62.5 70.7 71.3 70.7 69.6 70.0 66.7 62.0 FI46.6 52.0 57.3 54.5 56.8 46.6 51.0 49.9 51.8 51.0 SE89.5 83.4 83.9 85.3 88.1 85.8 89.7 92.6 98.2 95.6 Foreigndirectinvestment(FDI)isthecategoryofinvestmentmadebyanentityresidentinaneconomy(directinvestor)toacquirealastinginterestinanentityoperatinginaneconomyotherthanthatoftheinvestor(directinvestmententerprise).Thelastinginterestisdeemedtoexistiftheinvestoracquiresatleast10%ofthevotingpowerofthedirectinvestmententerprise.Dataarepresentedaccordingtotheasset/liabilityprinciple,compiledintheframeworkofInternationalinvestmentpositionandareconsistentwiththecomponentsofNationalaccountsstatistics.InwardFDIstocksarethevalueofFDIliabilitiesfromallcountriesoftheworldinthereportingeconomyattheendofthereferenceperiod.DataareexpressedaspercentageofGDPtoremovetheeffectofdifferencesinthesizeoftheeconomiesofthereportingcountries.DefinitionsarebasedontheIMF'sSixthBalanceofPaymentsManual (BPM6). Source: European Commission, Eurostat 
 
 
 
Table 3.31: Net trade balance of energy products (% of GDP)  

75 

2013201420152016201720182019202020212022EU-3.1 -2.7 -1.9 -1.4 -1.7 -2.1 -1.9 -1.2 -2.0 -4.1    EA-3.2 -2.7 -1.9 -1.5 -1.7 -2.1 -1.9 -1.2 -2.0 -4.4 BE-4.5 -3.8 -2.7 -2.2 -2.5 -3.4 -2.5 -1.7 -3.0 -4.1pBG-6.2 -5.6 -3.8 -2.4 -3.0 -3.4 -3.0 -2.0 -3.4 -4.1 CZ-4.7 -3.9 -2.4 -2.0 -2.5 -2.9 -2.4 -1.5 -2.5 -4.7 DK0.3 0.0 0.0 0.0 -0.1 -0.2 -0.2 -0.3 -0.5 -1.0 DE-3.4 -2.8 -2.0 -1.5 -1.7 -2.0 -1.8p-1.2p-1.9p-3.4pEE-2.2 -2.1 -1.5 -1.0 -0.6 -1.0 -1.3 -0.5 -0.3 -2.3 IE-3.2 -2.7 -1.5 -1.1 -1.2 -1.4 -1.2 -0.7 -1.2 -2.2 EL-3.7 -3.4 -2.2 -1.6 -1.8 -2.5 -2.3 -1.8 -3.1p-6.0pES-3.4 -2.9 -2.0 -1.5 -1.8 -2.1 -1.9 -1.3 -2.2p-3.9pFR-3.1 -2.5 -1.8 -1.4 -1.7 -1.9 -1.8 -1.1 -1.8p-4.3pHR-5.0 -3.9 -3.3 -2.6 -2.8 -3.1 -2.8 -2.0 -3.8 -9.0pIT-3.3 -2.6 -2.0 -1.5 -1.9 -2.3 -2.0 -1.3 -2.6 -5.6 CY-6.4 -5.9 -4.0 -3.3 -4.0 -4.1 -3.9 -3.2 -4.3 -6.6pLV-5.6 -4.7 -3.5 -2.4 -2.9 -3.4 -2.7 -1.6 -2.5 -7.2 LT-6.1 -4.7 -3.6 -2.6 -3.0 -4.0 -3.6 -2.4 -4.8 -10.5 LU-5.1 -4.2 -2.9 -2.3 -2.7 -3.3 -3.2 -2.0 -2.8 -4.6 HU-6.3 -6.1 -4.1 -3.1 -3.7 -3.8 -3.8 -2.3 -4.4 -9.9pMT-8.7 -14.4 -8.5 -8.1 -6.1 -8.6 -5.9 -5.8 -5.9 -8.1 NL-1.4 -1.6 -1.1 -0.6 -0.7 -1.4 -0.9 -0.4 -1.2 -1.2pAT-3.5 -3.0 -2.3 -1.9 -2.1 -2.5 -2.2 -1.4 -2.4 -4.4 PL-2.7 -2.6 -1.6 -1.4 -2.0 -2.7 -2.4 -1.6 -2.0 -3.4 PT-3.7 -3.6 -2.3 -1.6 -2.2 -2.5 -2.5 -1.7 -2.7 -4.8pRO-1.9 -1.4 -0.9 -1.0 -1.3 -1.6 -1.7 -1.2 -2.0 -2.8pSI-5.5 -4.1 -3.1 -2.1 -2.6 -2.9 -3.5 -2.0 -2.8 -3.8 SK-5.9 -4.0 -3.0 -2.5 -2.9 -3.9 -3.1 -2.1 -3.5 -6.6 FI-3.1 -2.8 -1.8 -1.4 -1.6 -2.0 -1.7 -0.9 -1.9 -3.5 SE-1.5 -1.3 -0.8 -0.8 -0.9 -1.3 -1.1 -0.7 -0.7 -1.2 Source: European Commission, EurostatThetradebalanceofenergyproductsiscalculated,foreachMemberState,asthedifferencebetweenexportsandimportsfromtherestoftheworld(intra-EUandextra-EUtrade)ofgoodsincludedintheSITCsection3-Mineralfuels, lubricants and related materials.The MIP indicator 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 

2013201420152016201720182019202020212022EUnananananananananana   EAnanananananananananaBE0.6 -0.1 0.1 1.9 2.6 2.8 1.1 0.4 0.4 2.1 BG-0.4 -3.0 -4.1 -4.8 -3.2 -1.1 1.7 3.0 2.3 4.9 CZ-2.4 -10.1 -8.2 -3.8 5.6 7.6 7.5 3.7 4.6 13.7 DK-1.3 -1.4 -1.5 -0.4 -0.7 -1.8 -2.5 -2.0 -1.3 -0.9 DE-0.7 0.0 1.1 1.0 0.8 0.4 0.3 0.1 0.6 0.3 EE5.4 3.1 1.5 0.2 2.3 4.1 4.4 1.3 1.4 9.5 IE-3.1 -1.8 -1.5 -1.1 -2.2 -3.0 -2.9 -2.5 -1.7 -2.0 EL-3.4 -5.6 -5.3 -3.3 -1.9 -1.5 -2.1 -3.2 -4.3 -3.1 ES0.4 -0.6 -1.4 -2.3 -1.1 -0.2 0.0 -1.2 -0.7 -0.5 FR-1.4 -0.7 -0.6 0.0 -0.7 -0.1 -0.1 0.6 -0.5 -3.6 HR-2.9 -1.4 -1.2 -1.1 0.6 1.2 0.5 -2.0 -2.3 -0.4 IT1.0 0.4 -0.7 -0.9 -0.8 -1.3 -1.7 -1.9 -2.1 -1.4 CY1.0 -0.1 -2.6 -3.5 -3.9 -3.2 -2.5 -3.0 -2.4 -2.5 LV0.2 -1.3 -2.2 -0.3 0.7 1.3 2.8 1.5 1.1 6.1 LT1.4 -0.1 -1.5 -0.9 1.4 3.0 3.4 2.1 3.2 11.0 LU1.7 0.8 0.1 -0.4 -0.1 0.4 0.9 0.0 0.6 -0.2 HU-3.0 -7.0 -7.3 -5.3 0.4 -1.0 -0.6 -6.5 -4.4 -7.5 MT0.1 0.7 0.8 1.9 1.2 0.3 0.0 0.7 -1.2 -3.9 NL1.3 1.3 0.8 -0.6 -0.7 -0.8 0.9 2.0 2.4 3.8 AT1.6 1.6 2.1 2.1 1.8 1.6 1.1 1.5 1.1 0.7 PL-3.3 -1.5 -2.1 -5.7 -3.2 -3.0 1.6 -1.0 -0.6 0.5 PT0.1 -1.2 -1.1 0.3 0.8 -0.3 -1.6 -1.9 -3.0 -2.5 RO0.7 -1.3 2.2 -2.8 -5.2 -4.1 -1.2 1.0 0.2 2.3 SI0.1 0.5 -0.8 -1.7 -1.6 -0.5 0.4 -0.1 -0.9 -1.0 SK2.5 0.5 -1.5 -2.2 -1.7 -0.4 1.9 3.8 3.1 4.7 FI1.9 2.0 0.9 0.3 -1.2 -1.4 -1.7 -0.9 -1.0 -2.7 SE5.9 -3.8 -7.9 -7.9 -4.0 -7.6 -9.8 -7.4 1.7 -1.1 Realeffectiveexchangerate(REER)aimstoassessacountry'spriceorcostcompetitivenessrelativetoitsprincipalcompetitorsininternationalmarkets.Changesincostandpricecompetitivenessdependnotonlyonexchangeratemovementsbutalsooncostandpricetrends.ThespecificREERfortheMIPisdeflatedbytheconsumerpriceindicesrelativetotheeuroareacountries,since2015(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 3-year percentage change of REER.Source: European Commission, Directorate General for Economic and Financial Affairs 
 
 
 
 
Table 3.33: Export performance against advanced economies (5 year % change) 

77 

2013201420152016201720182019202020212022EU-4.2 -2.3 3.0 3.3 5.6 3.4 2.3 5.9 2.8 -2.6    EAnanananana4.3 2.2 4.2 1.6 -3.9 BE-6.3 -7.1 -11.8 -7.1 -1.3 -3.7 -4.3 9.3 8.2 1.8 BG7.5 13.2 15.4 7.0 16.6 10.3 12.7 15.7 16.0 19.8 CZ-2.8 0.5 0.1 0.5 5.2 8.3 2.7 8.2 2.5 -4.2 DK-11.5 -9.8 -6.6 -5.0 -1.4 -2.5 -0.4 10.9 10.2 16.6 DE-6.3 -3.0 -1.2 -0.1 2.6 0.7 -2.4 1.9 -2.0 -9.7 EE18.4 29.2 9.5 -2.8 -1.2 -2.5 -0.5 16.2 23.7 21.4 IE-3.7 -8.5 40.7 55.2 66.0 74.1 69.5 52.2 46.4 37.1 EL-21.0 -13.6 -12.2 -11.7 -3.5 3.8 1.1 -10.6 13.2 16.9 ES-3.4 -5.1 -1.3 0.7 6.4 1.8 0.2 -7.1 -8.4 -4.3 FR-7.6 -8.4 -1.7 -1.1 -0.5 -1.9 -2.8 -8.3 -8.0 -7.3 HR-17.3 -13.5 -3.9 7.0 19.4 19.1 19.4 -1.1 8.5 16.3 IT-14.3 -9.4 -7.9 -6.1 -2.3 -2.6 -4.4 -2.8 -2.7 -5.0 CY-5.3 -14.3 -2.8 5.6 17.6 18.9 22.7 39.0 38.2 25.3 LV14.0 19.8 15.6 7.0 4.2 5.7 1.2 20.7 17.9 19.6 LT19.6 28.5 8.6 -3.5 0.6 0.5 14.0 38.8 42.4 33.6 LU15.5 17.1 20.2 23.1 20.0 9.1 7.9 22.1 21.7 3.0 HU-16.9 -10.8 -7.5 -4.2 7.1 5.6 2.8 7.5 1.4 0.1 MT7.0 -6.2 11.3 15.4 20.5 16.1 31.0 31.1 18.2 6.5 NL-4.5 -5.0 -4.8 -5.1 -1.7 -0.9 -2.3 6.9 7.6 3.7 AT-12.2 -9.7 -7.3 -5.0 -0.7 0.3 -0.9 5.2 0.3 -1.2 PL5.1 8.6 7.4 11.4 20.0 19.3 19.5 33.7 29.0 21.0 PT-1.0 -0.6 2.9 2.9 10.6 5.9 6.1 -1.5 -2.0 1.8 RO22.9 29.8 23.9 22.0 34.0 20.5 15.0 19.9 14.3 10.7 SI-12.1 -6.7 -2.9 1.2 14.4 16.6 13.4 19.7 15.3 6.8 SK3.3 9.2 6.2 5.0 1.9 -0.4 -0.8 7.5 2.3 -3.1 FI-27.3 -22.1 -21.5 -17.6 -8.0 -6.4 1.0 11.3 8.2 1.7 SE-10.3 -3.5 -8.5 -11.3 -8.4 -9.0 -4.9 3.2 5.3 0.9 Source: European Commission, Eurostat and OECDTheindicatorshowsdevelopmentsinsharesofexportsofgoodsandservicesofEUMemberStatesinrelationtototalexportsofgoodsandservicesofOECDcountriesandnon-OECDEUMemberStates.Tocapturethestructurallossesincompetitivenessthatcanaccumulateoverlongertimeperiods,theMIPindicatoriscalculatedasthe5year%change(comparingyearYwithyearY-5).Thedataarepresentedas5year%changeandasshareoftotalexports of OECD countries and non-OECD EU Member States. The indicator is based on the Balance of Payments data reported to Eurostat by the EU Member States. Source of data for  non-EU countries is OECD. 
 
 
 
 
Table 3.34: Terms of trade (5 year % change) 

78 

2013201420152016201720182019202020212022EU-0.6 -2.5 1.4 4.5 4.2 2.6 2.2 1.7 -1.1 -4.3    EA-0.8 -2.9 1.3 4.7 4.3 2.7 2.4 1.5 -1.6 -5.0 BE0.2 -2.5 0.3 2.6 2.1 0.9 1.3 1.0 -1.2 -4.3pBG4.2 3.0 3.6 3.1 5.7 7.5 8.9 12.8 8.1 8.2 CZ-1.0 -1.6 0.8 3.4 3.0 1.9 0.9 2.0 0.8 -1.9 DK2.4 3.7 1.6 3.4 2.8 1.0 -0.7 2.1 2.9 4.1 DE0.4 -2.6 1.9 6.4 5.7 3.8 3.2p2.8p-1.9p-5.9pEE-0.7 0.4 2.9 3.7 4.1 4.3 3.4 3.4 2.7 3.6 IE-4.8 -5.3 1.9 -0.3 -0.1 -0.5 2.0 -2.2 -3.5 -1.3 EL1.2 3.7 4.5 7.3 8.3 4.3 1.9 -3.1 -5.2p-4.2pES-1.6 -6.7 -3.6 0.4 1.0 -1.0 -0.4 1.2 0.1p-6.4pFR-0.4 -1.7 2.8 6.4 5.3 2.9 2.6 0.2 -0.8p-2.6pHR1.4 0.7 0.5 1.5 2.4 3.3 3.7 1.6 -2.0 -7.0pIT-0.8 -3.8 2.5 8.6 8.6 6.2 4.4 5.7 -2.4 -9.5 CY-0.6 -0.8 1.4 3.9 3.2 2.6 2.6 -1.2 -1.8 -1.6pLV1.2 0.1 0.5 0.4 3.8 5.0 6.9 8.3 3.4 2.3 LT-5.2 -0.5 1.4 4.0 4.9 3.7 3.7 2.9 -4.0 -11.3 LU3.0 2.3 1.3 0.5 -0.2 -0.4 -1.9 -0.3 0.9 0.7 HU-1.1 -1.2 -0.5 1.5 2.1 0.6 0.3 1.6 -2.2 -7.2pMT0.3 1.2 2.0 3.2 3.8 3.1 2.6 1.3 0.8 0.5 NL-2.0 -3.0 -0.1 2.0 1.8 1.3 1.9 1.5 -0.2 -2.7pAT-1.9 -2.7 0.4 3.2 2.5 2.0 0.4 -0.3 -1.9 -4.5 PL-0.2 -1.4 2.8 4.9 6.4 4.4 3.7 3.8 1.2 -2.6 PT3.9 0.1 4.7 8.4 6.9 4.5 4.3 2.5 -0.2 -3.0pRO2.7 3.7 5.7 3.6 5.1 5.2 4.8 5.4 5.6 3.9pSI-2.3 -4.6 0.6 2.9 3.4 2.5 2.0 1.4 -1.5 -4.0 SK-4.9 -3.7 -3.2 -2.3 -1.6 -1.7 -2.0 -2.1 -2.6 -5.9 FI-2.7 -3.2 1.9 3.2 3.8 3.8 2.5 1.0 1.3 1.1 SE0.2 -0.8 0.3 1.3 0.4 -1.1 -0.8 -0.5 -0.4 -2.4 Acountry’stermsoftrademeasuresacountry'sexportpricesinrelationtoitsimportprices.Theindicatormeasuresthecountry'stradecompetitiveness,asitindicateshowmuchimportsaneconomycangetforaunitofexportofgoodsandservices.Itiscalculatedastheratioofthepriceindexforexportsofgoodsandservicestothepriceindexforimportsofgoodsandservices.Theseareobtainedbydividingcurrentpricesbychain-linkedvolumesusingthe standard reference year 2015. Data are expressed as 5-year percentage change. Data source: National accounts statistics.Flags:p:Provisional. Source: European Commission, Eurostat 
 
 
 
 
Table 3.35: Export market share, volume (1 year % change) 

79 

2013201420152016201720182019202020212022EU-1.5 1.2 3.4 1.2 0.3 -0.1 2.1 -1.0 0.3 2.5    EA-1.7 1.0 3.6 0.8 0.1 -0.2 1.9 -1.6 0.6 2.3 BE-3.2 1.6 0.6 3.9 0.0 -2.7 1.1 1.2 3.0 0.0pBG6.0 -0.5 3.3 6.3 0.2 -2.1 2.7 -2.9 0.3 6.7 CZ-3.3 5.1 2.9 2.0 1.7 -0.1 0.2 -0.5 -4.0 2.3 DK-2.0 -0.5 0.5 1.8 -0.7 -0.4 3.2 1.4 -3.2 5.9 DE-2.6 1.2 2.3 0.2 -0.6 -1.6 1.0p-1.8p-1.2p-1.6pEE-0.8 -1.0 -4.6 2.5 -0.7 -0.9 3.7 2.0 11.2 -1.9 IE-0.6 11.0 36.1 2.3 4.1 6.0 10.5 19.0 4.2 9.0 EL-1.8 4.6 1.9 -2.7 3.0 5.3 3.6 -14.0 13.3p1.3pES0.8 0.9 1.2 3.1 0.0 -2.1 0.9 -12.6 2.6p10.3pFR-1.5 -0.3 1.5 -0.5 -1.1 0.7 0.3 -9.4 0.1p2.2pHR-1.0 3.7 7.1 4.7 1.4 -0.2 5.5 -15.7 21.8 22.1pIT-3.2 -1.0 1.2 -0.4 -0.1 -1.7 0.3 -6.0 3.0 5.0 CY-2.5 2.7 5.8 4.9 5.5 3.4 7.4 9.7 10.7 8.7pLV-2.9 2.7 -0.1 1.7 0.9 0.6 0.0 7.9 -1.9 5.4 LT3.7 -5.4 -0.7 2.6 8.0 3.0 8.8 7.7 6.1 7.3 LU2.7 2.9 2.0 3.0 -5.7 -0.2 4.7 8.1 -0.6 -5.5 HU0.5 5.6 4.3 1.5 1.0 1.2 4.1 1.4 -2.6 7.7pMT-2.7 -0.1 12.3 4.7 4.9 4.6 8.4 5.7 -3.4 1.9 NL-1.1 0.9 4.3 -0.6 1.0 0.5 0.7 3.2 -2.9 -0.4pAT-3.0 -0.7 -0.1 0.7 -0.6 1.4 2.8 -3.1 -1.8 6.3 PL1.5 1.9 3.5 6.7 3.5 3.0 4.0 6.4 1.4 1.8 PT3.6 0.7 3.2 2.1 2.9 0.3 2.8 -11.1 1.4 12.5pRO17.0 4.9 1.5 14.0 2.3 1.5 4.1 -2.0 1.7 4.7pSI-0.5 2.4 1.6 3.9 5.6 2.4 3.2 -1.0 3.6 2.3 SK2.4 0.1 3.5 2.7 -1.8 1.3 -0.5 1.2 -0.4 -1.9 FI-3.0 -5.6 -2.7 1.6 3.3 -2.3 5.4 -0.3 -5.1 -1.2 SE-4.7 0.8 2.7 0.1 -1.4 0.4 4.7 2.0 0.2 2.1 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,WorldEconomicOutlook (WEO).Flags:p:Provisional.  
 
 
 
 
Table 3.36: Real labour productivity (1 year % change)  

80 

2013201420152016201720182019202020212022EU0.3 0.7 1.3 0.7 1.2 0.6 0.7 -4.3 4.5 1.4    EA0.3 0.6 1.1 0.5 1.0 0.1 0.2 -4.7 4.4 1.1 BE0.8 1.2 1.2 0.0 0.1 0.3 0.6 -5.3 4.8 0.9pBG-0.1 0.6 3.0 2.5 0.9 2.8 3.7 -1.7 7.5 4.3 CZ-0.4 1.7 3.9 0.9 3.6 1.9 2.8 -3.9 3.2 0.8 DK0.9 0.7 1.0 1.5 1.3 0.5 0.1 -1.6 4.4 -1.0 DE-0.3 1.3 0.5 1.0 1.3 -0.4 0.2p-3.1p3.0p0.4pEE0.2 2.2 -1.0 2.9 3.0 2.8 2.7 1.8 7.1 -4.8 IE-1.7 6.0 20.3 -1.9 6.3 5.5 2.3 9.7 8.6 2.6 EL-1.9 -3.0 2.8 -3.8 1.6 -2.8 -0.3 -6.9 7.1p3.0pES1.1 0.4 1.0 0.9 0.3 0.1 -0.6 -7.3 4.0p3.0pFR0.4 0.4 0.9 0.5 1.1 0.9 0.6 -7.5 3.5p-0.2pHR2.5 -3.0 1.2 3.3 0.9 0.2 0.3 -7.5 12.4 3.9pIT-0.1 -0.1 0.1 -0.1 0.5 0.0 0.0 -7.0 7.4 2.0 CY-1.1 0.2 1.8 1.8 0.3 0.3 1.7 -2.2 6.5 2.0pLV-0.3 3.3 2.4 2.7 3.3 2.5 0.7 -1.2 9.5 0.6 LT2.2 1.5 0.6 0.2 5.0 2.6 4.1 1.6 5.0 -2.5 LU1.3 0.1 -0.3 1.9 -2.1 -2.3 -0.6 -2.6 4.2 -1.9 HU0.5 -0.3 1.4 -1.5 2.3 3.0 3.7 -3.4 5.8 3.0pMT0.9 1.5 5.6 -1.1 2.7 1.3 1.3 -10.6 9.2 0.7 NL1.1 1.5 1.0 0.6 0.5 -0.4 -0.3 -3.5 4.1p0.4pAT-0.3 -0.3 0.4 0.7 0.6 0.7 0.4 -5.1 2.2 2.1 PL0.9 2.1 2.8 2.1 3.8 5.4 4.5 -2.0 4.3 4.8pPT2.0 -0.6 0.4 0.4 0.2 0.5 1.9 -6.6 3.7 5.2pRO1.2 3.3 4.5 4.0 5.7 5.9 3.7 -1.7 4.9 3.4pSI0.1 2.3 0.9 1.3 1.9 1.2 1.1 -3.6 6.8 -0.4 SK1.4 1.3 3.1 -0.4 0.7 2.0 1.5 -1.5 5.4 0.0 FI-0.1 0.1 0.6 2.3 2.1 -1.3 -0.2 -0.4 1.0 -1.3 SE0.2 1.2 3.0 0.2 0.1 0.3 1.4 -0.8 4.9 0.1 Thelabourproductivityistheratioofgrossdomesticproduct(marketpricesinmillions,chain-linkedvolumesreferenceyear2015)tothetotalemployment(domesticconcept),The'personsemployed'doesnotdistinguishbetweenfull-timeandpart-timeemployment,TheGDPperpersonemployedisintendedtogiveanoverallimpressionoftheproductivityofnationaleconomies,Theinputdataareobtainedthroughofficialnationalaccounts'countrydatainthe ESA 2010 transmission programme, The MIP indicator is expressed as 1-year percentage change,Flags:p:Provisional. Source: European Commission, Eurostat 
 
 
 
Table 3.37: Gross non-performing loans, domestic and foreign entities (% of gross loans)  

81 

2013201420152016201720182019202020212022EUna6.7e6.8e5.2e4.0e3.1e2.6e2.5e2.0e1.8p   EAna8.1e7.2e6.3e4.7e3.6e3.1e2.5e2.0e1.8pBE15.7e4.3e3.8e3.2e2.7e2.3e2.1e2.1e1.6e1.5pBG7.8e16.0e14.5e12.8e10.2e7.7e6.5e5.9e4.8e3.7pCZ10.8e10.0e10.1e4.0e2.8e2.1e1.7e1.9e1.7e1.4pDK18.4e5.1e3.9e3.3e2.5e2.3e1.9e1.9e1.8e1.5pDE20.3e3.9e3.0e2.6e1.8e1.4e1.2e1.2e1.1e1.1pEE6.8e3.2e2.2e1.7e1.9e1.3e1.6e1.6e1.1e0.8pIE15.0e21.6e14.9e13.1e9.9e5.5e3.4e3.4e2.4e1.7pEL14.0e39.7e46.8e46.3e45.0e41.6e35.5e26.5e8.6e6.2pES14.9e8.1e6.3e5.7e4.4e3.7e3.1e2.8e2.9e2.7pFR18.1e4.2e4.0e3.6e3.1e2.7e2.5e2.2e1.9e1.8pHR7.5e13.6e13.0e10.7e8.8e7.3e5.2e5.3e4.2e3.0pIT15.0e16.5e16.5e15.0e11.2e8.4e6.7e4.5e3.5e2.9pCY16.2e38.6e36.3e35.4e30.7e20.2e18.1e11.0e5.6e4.5pLV9.9e9.7e6.5e6.3e5.6e5.3e3.9e4.6e2.1e1.4pLT9.6e6.8e5.6e4.0e3.2e2.6e1.7e2.2e1.2e0.9pLU13.9e1.4e1.1e0.8e0.7e0.8e0.6e0.7e0.6e1.2pHU10.7e19.4e15.2e11.9e8.4e5.4e4.2e3.6e3.2e3.1pMT6.6e6.0e5.1e4.1e3.1e3.1e3.2e3.6e3.0e2.3pNL20.8e3.4e2.7e2.4e2.1e1.9e1.8e1.9e1.4e1.3pAT13.4e7.5e6.5e5.1e3.5e2.6e2.2e2.0e1.8e1.8pPL9.0e7.2e6.6e6.4e6.6e6.2e6.1e6.0e5.0e4.3pPT14.8e16.6e17.5e17.2e13.3e9.4e6.1e4.9e3.6e3.0pRO9.7e20.7e13.4e9.7e6.6e5.0e4.3e3.9e3.4e2.8pSI11.3e22.8e17.9e12.3e9.2e6.0e3.4e3.0e2.1e1.8pSK8.2e5.2e4.4e4.6e3.7e3.2e2.9e2.5e2.0e1.7pFI21.7e1.6e1.5e1.4e1.2e1.5e1.4e1.5e1.2e1.0pSE21.3e1.3e1.3e1.2e1.3e1.0e1.1e1.0e1.0e0.8pAloan,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.Flags:e:Estimated. p:Provisional. Source: European Central Bank 
 
 
 
Table 3.38: Unit labour cost performance relative to EA (10 year % change) 

82 

2013201420152016201720182019202020212022EUnananananananananana   EAnanananananananananaBE3.1 3.6 2.2 0.2 1.0 -1.1 -0.2 -0.7 -3.3 -1.5 BG53.0 57.5 56.4 56.7 58.4 52.7 47.1 45.9 49.0 63.8 CZ1.3 -0.9 -0.9 0.6 1.4 4.8 9.5 10.9 12.4 12.8 DK4.8 5.4 4.3 1.7 -2.5 -5.2 -5.6 -6.4 -5.4 -4.6 DE-6.9 -4.2 0.9 5.5 8.6 12.2 10.9 9.6 10.9 9.5 EE41.8 40.7 44.3 37.0 24.2 17.2 22.5 25.9 26.3 36.8 IE-5.8 -12.0 -28.3 -28.3 -33.3 -39.0 -34.5 -35.8 -36.3 -38.3 EL3.7 0.6 -9.8 -9.1 -11.0 -15.1 -18.8 -16.8 -21.2 -23.0 ES-1.1 -4.4 -6.2 -10.5 -13.0 -15.6 -11.2 -7.5 -5.8 -4.3 FR2.8 3.0 1.9 0.6 0.5 0.1 -2.1 -3.9 -3.9 -2.5 HR-2.6 -5.9 -7.7 -11.7 -14.8 -14.2 -17.7 -14.2 -14.6 -11.0 IT5.6 3.0 2.4 0.0 -1.7 -2.1 -2.8 -5.2 -5.8 -5.8 CY3.5 -1.1 -7.1 -11.1 -10.4 -10.2 -12.1 -14.2 -16.1 -18.0 LV60.7 57.9 44.7 31.1 8.5 -2.9 15.8 24.7 27.2 33.0 LT12.7 11.6 11.4 6.3 8.5 7.5 16.9 23.8 31.9 44.8 LU17.1 17.2 15.2 11.4 17.2 16.5 16.2 14.6 13.0 17.4 HU14.6 9.4 6.8 8.0 7.4 7.2 11.6 13.4 14.2 20.0 MT6.8 4.2 5.8 8.0 7.2 14.0 15.9 24.7 13.6 11.7 NL-1.2 -1.2 -1.6 -1.2 -2.5 -2.2 -2.0 2.7 1.2 0.5 AT3.5 5.6 6.4 6.0 6.1 5.8 5.7 7.4 7.3 5.1 PL2.5 3.9 3.1 5.9 4.8 0.5 5.9 3.6 3.2 8.2 PT-8.5 -9.8 -11.7 -10.9 -8.9 -6.3 -4.9 -1.4 1.4 4.4 RO47.4 48.7 21.0 26.1 35.7 19.3 33.1 25.5 30.3 33.1 SI8.1 3.3 2.7 3.0 2.2 0.0 -1.4 -0.2 2.4 1.7 SK4.1 2.0 -1.0 -0.6 3.9 4.9 6.4 9.4 10.0 14.2 FI8.7 9.5 8.7 5.6 2.8 1.4 -2.7 -5.5 -4.4 -7.1 SE3.8 5.7 5.6 7.5 5.9 5.9 5.2 5.8 4.1 1.4 Therelativeunitlabourcost(ULC)seriesmeasuresthetradingpositionofanindividualcountryrelativetoitspartnersintheeuroareaandassuchoffersanindicationaboutchangesinitscompetitiveposition.Themeasuretakesintoaccountnotonlychangesinmarketexchangerates,butalsovariationsinrelativepricelevelsbasedontheunitlabourcostandthereforecanbeusedasindicatorofcompetitiveness.Thedataareexpressedas10-yearpercentage change.Source: European Commission, Directorate General for Economic and Financial Affairs 
 
 
 
Table 3.39: House price index, nominal (3 year % change) 

83 

2013201420152016201720182019202020212022EU-3.4 -3.3 1.0 7.3 11.7 14.7 15.2 16.1 19.9 23.2    EA-3.1 -3.9 -0.3 5.8 10.2 13.7 14.1 15.0 18.5 21.6 BE7.6 2.9 2.3 3.8 8.2 9.4 10.9 11.5 16.1 17.9 BG-9.3 -2.7 2.0b11.6 19.5 24.0 22.8 18.2 20.5 29.3bCZ-1.4 0.9 6.5 14.2 24.4 30.0 32.4 28.6 41.7 51.7 DK-0.6 4.9 15.3 16.8 17.7 14.8 11.7 12.3 20.2 16.9 DE10.4 10.0 11.4 16.1 19.5 21.7 19.7 21.6 27.1 26.6 EE28.8 35.0 34.5 27.3 18.1 17.1 19.6 20.2 30.5 49.1 IE-27.3 2.1 31.5 39.6 32.8 31.3 25.1 13.2 11.2 22.0 EL-25.5e-27.1e-21.7e-14.2e-8.3e-1.6e8.1e14.1e20.6e24.9eES-28.5 -22.3 -5.6 8.7 15.1 18.6 19.2 14.8 11.5 13.8 FR3.2 -3.9 -4.7 -1.8 2.8 7.3 9.7 11.9 15.6 18.9 HR-5.3 -6.9 -8.2 -3.6 1.7 11.1 20.0 24.5 25.9 32.7 IT-7.6 -13.1 -14.3 -8.1 -4.6 -1.4 -1.8 1.2 4.5 8.5 CY-8.5 -8.7 -7.1b-2.9 1.0 4.3 7.9 5.3 0.0 -0.5 LV21.5 16.6 9.5 11.1 14.0 29.3 29.9 23.5 25.0 30.6 LT7.7 7.5 11.7 16.3 19.0 23.2 24.9 23.0 33.0 48.2 LU13.4 14.2 15.5 16.6 18.0 19.9 24.5 35.0 43.6 42.9 HU-9.4 -2.2 14.8 33.6 43.9 45.5 50.1 40.3 43.0 49.5pMT1.2 5.2 8.1 14.4 17.5 17.5 18.2 16.1 15.3 15.9pNL-14.0 -11.6 -1.8 9.7 17.0 23.6 26.3 26.4 32.8 40.5 AT19.9 16.8 14.2 17.8 19.9 19.6 16.6 19.3 28.1 34.9 PL-7.6 -6.8 -2.0 4.4 7.4 12.7 20.3 28.0 31.1 34.8 PT-13.3 -4.9 5.4 15.1 20.6 29.0 32.4 31.9 30.9 34.0 RO-17.0 -7.3 0.5 6.7 15.6 18.6 15.8 14.3 13.0 17.1 SI-9.4 -17.6 -10.8 -2.8 12.7 21.6 25.6 21.4 24.5 33.9 SK-3.3 -0.4 7.8 14.0 19.0 21.3 24.1 28.4 27.2 32.5 FI6.9 3.2 0.8b0.9 2.4 3.3 2.4 3.1 6.9 7.7 SE9.2 16.5 30.2 34.0 30.6 14.4 8.3 5.8 17.6 18.8 Flags:b:Break in series. e:Estimated. p:Provisional. 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 percentage change of the HPI.1)e=sourceNCBforEL;2)2022,b=breakintimeseriesduetonewdatasourceforBG;3)2015,b=breakintimeseriesduetofullimplementationofharmonisedEUmethodologyforBGandCY;b=breakintimeseriesdueto new calculation method for New dwellings (apartments) for FI. Source: European Commission, Eurostat 
 
 
 
 
Table 3.40: Residential construction (% of GDP) 

84 

2013201420152016201720182019202020212022EU4.8 4.7 4.6 4.8 5.0 5.1 5.2 5.4 5.8 5.9    EA5.0 5.0 4.8 5.0 5.2 5.4 5.5 5.7 6.1 6.3 BE5.7 5.9 5.7 5.7 5.7 5.9 6.1 6.1 6.2 6.0pBG1.7 1.6 1.4 2.7 2.8 2.7 2.8 2.9 2.8 2.8 CZ3.8 3.8 3.8 3.8 4.2 4.3 4.4 4.6 4.7 4.3 DK3.7 3.9 4.0 4.2 4.6 4.8 5.2 5.7 5.9 5.2 DE5.9 5.9 5.8 6.0 6.0 6.3 6.4p7.0p7.0p7.3pEE3.4 3.8 4.0 4.4 4.6 4.5 4.9 5.4 4.9 5.1 IE1.6 1.8 1.5 1.8 2.1 2.4 2.2 2.1 2.0 2.4 EL2.3 1.1 0.8 0.7 0.6 0.7 0.8 1.1 1.3p1.6pES3.9 4.2 4.0 4.4 4.8 5.4 5.8 5.9 5.8p5.7pFR6.1 6.0 5.9 6.0 6.3 6.3 6.5 6.4 7.0p7.1pHR2.9 2.7 2.6 2.6 2.4 2.6 2.8 3.1 3.6 3.4pIT4.7 4.3 4.1 4.1 4.0 4.1 4.0 4.0 5.9 6.5 CY4.1 3.9 3.6 4.4 5.0 6.5 7.6 8.0 8.3 8.6pLV2.2 2.5 2.4 2.0 2.1 2.5 2.6 2.6 2.8 2.4 LT2.2 2.5 2.8 3.0 2.7 2.7 3.0 3.2 3.1 3.6 LU3.4 3.6 3.8 4.1 3.6 3.8 3.9 3.8 4.0 3.7 HU1.8 1.9 2.2 2.4 2.7 3.0 3.2 4.1 3.9 4.7pMT2.6 2.5 2.9 3.6 3.6 4.2 4.4 4.5p4.5p4.3pNL3.0 3.1 3.5 4.1 4.5 4.9 5.1 5.4 5.5 5.4pAT4.3 4.3 4.3 4.3 4.5 4.5 4.7 5.0 5.4 5.6 PL3.0 3.1 2.6 2.5 2.2 2.0 2.1 2.2 2.3 2.2 PT2.5 2.5 2.4 2.6 2.8 3.1 3.2 3.4 3.9 3.9pRO2.4 2.4 2.4 2.6 2.7 2.1 2.3 2.4 3.1 2.7pSI2.4 2.2 2.1 2.1 2.1 2.1 2.2 2.3 2.4 2.8 SK3.2 2.6 2.5 3.1 3.1 3.3 3.3 3.8 4.0 4.3 FI6.4 6.0 6.0 6.6 6.8 7.2 7.0 7.0 7.0 7.2 SE3.6 4.2 4.7 5.3 5.7 5.2 4.7 4.9 5.3 5.4 Flags:p:Provisional. Source: European Commission, EurostatResidentialConstructiontrackstheactualconstruction(notsales)ofhousingandispartofGrossfixedcapitalformation.GFCFconsistsofresidentproducers'acquisitions,lessdisposals,offixedassetsduringagivenperiodpluscertainadditionstothevalueofnon-producedassetsrealisedbytheproductiveactivityofproducerorinstitutionalunits.DatasourcefromNationalaccountsstatistics,usingasadenominatorGDPfromtheESA2010transmissionprogramme.  
 
 
 
 
Table 3.41: Household debt, consolidated (incl. Non-profit institutions serving households, % of GDP)   

85 

2013201420152016201720182019202020212022EU60.9 59.6 58.4 57.7b56.9 56.5 56.5 60.5 58.1 54.8p   EA60.8 59.4 58.0 57.4 56.8 56.5 56.6 60.8 58.6 56.1pBE55.7 57.5 57.9 58.2 58.9 59.2 60.5 65.3 62.1 60.0pBG25.5 25.1 23.2 22.6 22.6 23.0 23.0 24.3 23.8 22.5 CZ31.4 30.2 30.2 31.1 31.5 31.8 31.5 33.9 34.4 32.6 DK133.3 131.5 128.9 116.4b113.8 111.9 110.6 112.0 102.1 84.8 DE55.7 54.2 53.6 53.3 52.9 52.6 53.5p57.0p56.5p55.0pEE40.2 38.9 39.7 40.0 39.4 38.5 38.3 40.6 38.4 36.8 IE93.4 80.8 56.4 52.4 46.6 42.8 38.7 34.8 29.7 25.5 EL66.1 64.2 62.5 61.0 58.1 58.6 55.8 59.6 55.6p45.2pES77.7 73.4 68.0 64.5 61.1 58.9 56.8 62.6 57.6p52.3pFR55.6 55.6 56.1 57.1 58.4 60.4 62.2 68.2 66.6p66.2pHR39.6 39.4 37.7 34.6 33.6 33.6 34.0 37.8 34.0 30.7pIT43.3 42.6 41.8 41.2 40.8 40.8 41.1 44.9 42.5 40.9 CY129.3 131.0 126.4 115.7 105.0 95.8 86.2 88.6 79.9 71.7pLV29.2 26.4 24.3 23.4 22.3 21.0 20.2 20.4 19.5 17.7 LT22.3 21.5 22.3 22.8 22.4 22.6 23.0 24.1 23.4 21.8 LU57.0 58.5 59.0 60.5 62.5 65.7 67.1 68.8 66.6 66.8 HU28.3 25.6 21.1 20.1 18.6 17.7 18.5 20.8 21.1 18.6pMT57.1 54.8 50.7 50.3 47.3 46.6 55.0 61.0 58.5 55.7 NL115.1 113.2 111.3 109.6 106.8 103.4 99.7 103.8 98.9 92.4pAT51.2 51.0 50.8 51.1 50.3 49.7 49.7 53.2 52.2 48.7 PL35.6 36.0 36.1 36.8 35.0 35.0 34.4 34.6 32.2 26.6 PT86.1 81.9 77.0 72.6 69.2 66.0 63.5 69.1 66.3 60.7pRO19.3 18.0 17.4 17.0 16.3 15.7 15.4 16.1 15.8 13.9pSI29.6 28.3 27.6 27.3 27.1 26.9 26.8 27.7 26.3 25.9 SK29.6 32.4 34.3 38.2 40.9 42.2 43.5 46.5 47.0 47.1 FI61.5 62.5 63.3 64.1 64.4 65.2 65.8 69.0 67.9 65.3 SE81.2 82.1 82.4 85.7 87.2 88.1 88.5 93.7 91.9 87.4 Source: European Commission, EurostatTheHouseholddebtisthestockofliabilitiesheldbythesectorHouseholdsandNon-profitinstitutionsservinghouseholds(S.14_S.15).TheinstrumentsthataretakenintoaccounttocompilesuchindicatorareDebtsecurities(F.3)andLoans(F.4).Dataarepresentedinconsolidatedterms,i.e.nottakingintoaccounttransactionswithinthesamesector,andareexpressedinpercentageofGDPandmillionsofnationalcurrency.Definitionsregardingsectorand instruments are based on ESA 2010. Flags:b:Break in series. p:Provisional.  
 
 
 
Table 3.42: Consolidated banking leverage, domestic and foreign entities (asset-to-equity multiple) 

86 

2013201420152016201720182019202020212022EUna16.9e15.6e15.2e14.0e14.1e14.2e14.7e14.6e14.6p   EAna16.6e15.6e15.2e13.7e13.8e13.7e14.8e14.7e14.7pBE15.7e15.1e14.7e14.2e13.2e13.1e13.4e14.2e13.8e14.2pBG7.8e7.9e7.7e7.7e7.7e7.5e8.2e7.9e8.0e8.8pCZ10.8e10.0e10.1e10.7e12.4e12.5e12.1e12.1e12.3e13.0pDK18.4e18.4e16.7e16.7e16.4e16.4e16.7e17.4e16.2e16.4pDE20.3e19.2e18.6e18.4e14.1e13.9e13.7e14.4e14.1e14.3pEE6.8e6.6e7.7e7.7e6.8e6.9e7.5e8.8e9.4e9.0pIE15.0e9.1e7.8e7.4e6.6e6.7e7.4e8.8e8.8e9.3pEL14.0e12.8e11.0e10.1e8.8e11.5e10.9e13.8e17.0e15.0pES14.9e14.0e13.7e13.2e13.5e13.6e13.5e15.8e15.8e16.0pFR18.1e18.9e17.3e16.0e15.2e15.3e15.1e16.2e15.8e16.0pHR7.5e7.2e8.0e7.2e7.4e7.5e7.5e7.6e7.8e9.0pIT15.0e14.0e13.1e14.2e12.2e13.1e12.9e13.9e14.3e13.7pCY16.2e10.3e10.7e10.7e12.1e14.1e12.8e13.6e16.0e17.0pLV9.9e10.2e9.5e9.9e8.9e7.8e9.8e10.0e10.3e10.2pLT9.6e9.7e9.0e11.6e10.7e10.4e14.5e15.5e15.7e17.1pLU13.9e13.4e13.4e13.4e13.2e14.6e15.0e14.3e15.2e15.2pHU10.7e10.9e11.2e9.9e9.7e9.4e9.5e10.8e10.9e11.4pMT6.6e11.9e14.1e15.8e13.5e12.2e11.2e10.7e12.6e12.6pNL20.8e18.5e18.0e17.7e16.7e16.1e16.1e16.7e16.3e15.9pAT13.4e14.2e13.5e12.5e11.6e11.4e11.2e11.9e11.8e11.1pPL9.0e9.3e9.2e9.4e8.8e9.3e9.7e10.5e12.9e13.5pPT14.8e13.7e12.4e12.9e10.6e11.0e10.8e11.4e12.0e12.3pRO9.7e10.5e9.8e9.8e9.6e9.3e9.1e9.1e10.2e11.2pSI11.3e9.3e8.6e8.0e8.0e8.2e8.2e9.3e9.6e10.0pSK8.2e8.4e9.0e9.2e9.3e9.5e9.6e9.7e10.4e10.7pFI21.7e24.3e19.1e17.7e18.9e16.1e16.6e16.0e16.2e17.4pSE21.3e20.6e18.8e17.6e16.5e18.1e17.9e17.6e16.4e16.3pTheindicator,coveringthebankingsectoronly,isdefinedastotalassetsdividedbytotalequity,forthereportingsector"domesticbankinggroupsandstand-alonebanks,foreigncontrolledsubsidiariesandforeigncontrolledbranches, all institutions, full sample (all banking groups / stand-alone banks irrespective of their accounting /supervisory framework)".Flags:e:Estimated. p:Provisional. Source: European Central Bank 
 
 
 
 
Table 3.43: Employment (1 year % change) 

87 

2013201420152016201720182019202020212022EU-0.4 0.9 0.9 1.3 1.6 1.5 1.1 -1.3 1.5 2.0    EA-0.5 0.8 0.9 1.4 1.6 1.6 1.3 -1.4 1.4 2.3 BE-0.3 0.4 0.9 1.3 1.6 1.5 1.6 0.1 1.9 2.1pBG-0.4 0.4 0.4 0.5 1.8 -0.1 0.3 -2.3 0.2 -0.3 CZ0.3 0.6 1.4 1.6 1.5 1.3 0.2 -1.7 0.4 1.5 DK0.0 0.9 1.4 1.7 1.5 1.5 1.4 -0.8 2.4 3.8 DE0.8 0.9 0.9 1.2 1.4 1.4 0.9p-0.8p0.2p1.4pEE1.2 0.8 2.9 0.3 2.7 0.9 1.3 -2.7 0.1 4.6 IE2.9 2.6 3.5 3.7 2.8 2.8 3.0 -2.8 6.0 6.6 EL-0.6 3.6 -2.9 3.4 -0.5 4.6 2.2 -2.6 1.2p2.5pES-2.4 1.0 2.8 2.1 2.6 2.2 2.6 -4.2 2.3p2.7pFR0.2 0.5 0.2 0.6 1.1 1.0 1.2 0.0 2.8p2.6pHR-2.8 2.6 1.3 0.2 2.4 2.6 3.1 -1.2 1.2 2.3 IT-1.8 0.1 0.7 1.4 1.2 0.9 0.5 -2.1 0.9 1.7 CY-5.6 -2.0 1.6 4.7 5.4 5.3 3.8 -1.2 3.2 3.0pLV2.3 -1.3 1.4 -0.3 0.0 1.5 -0.1 -2.3 -2.6 2.7 LT1.4 2.0 1.4 2.3 -0.7 1.4 0.6 -1.6 1.2 5.1 LU1.8 2.5 2.6 3.0 3.5 3.6 3.5 1.8 2.9 3.4 HU1.3 4.6 2.2 3.7 1.9 2.3 1.1 -1.2 1.3 1.5pMT4.5 6.1 3.8 4.5 8.0 6.0 5.7 2.8 2.9 6.2 NL-1.2 -0.1 1.0 1.5 2.4 2.7 2.3 -0.4 2.0p3.9pAT0.3 1.0 0.6 1.3 1.6 1.7 1.1 -1.6 2.0 2.6 PL-0.1 1.7 1.5 0.8 1.3 0.5 0.0 0.0 2.5 0.4pPT-2.9 1.4 1.4 1.6 3.3 2.3 0.8 -1.8 2.0 1.5pRO-0.9 0.8 -1.3 -1.1 2.4 0.1 0.1 -2.1 0.8 1.2pSI-1.1 0.4 1.3 1.8 2.9 3.2 2.4 -0.7 1.3 2.9 SK-0.8 1.4 2.0 2.4 2.2 2.0 1.0 -1.9 -0.6 1.8 FI-0.8 -0.4 -0.1 0.5 1.0 2.5 1.5 -2.0 2.2 2.9 SE1.0 1.4 1.5 1.9 2.5 1.6 0.6 -1.3 1.2 2.7 Source: European Commission, EurostatPersonsinemploymentarethosewho,duringthereferenceweek,didanyworkforpayorprofit,orwerenotworkingbuthadajobfromwhichtheyweretemporarilyabsent.Anyonewhoreceivesawage(incashorinkind)foron-the-jobtrainingthatinvolvestheproductionofgoodsorservicesisalsoconsideredasbeinginemployment.Self-employedandfamilyworkersarealsoincluded.Datapresentemploymentinresidentproductionunitsirrespectiveoftheplaceofresidenceoftheemployedperson(i.e.domesticscope).Employmentgrowthratesarebasedonnumberofpersonswithoutdistinctionaccordingtofull-timeorpart-timework.DataaresourcedfromNationalaccountsstatistics.Flags:p:Provisional.  
 
 
 
 
Table 3.44: Young people neither in employment nor in education and training - % of total population aged 15-24 

88 

2013201420152016201720182019202020212022EU13.4 13.0 12.7 12.1 11.4 10.9 10.5 11.4 10.8 9.6    EA13.2 13.0 12.6 12.1 11.5 11.0 10.5 11.6 10.7 9.5 BE11.8 11.2 11.4 9.2 8.7b8.5 8.6 8.6 7.4b6.6 BG21.3 20.0 19.1 18.0 15.2 15.0 13.6 14.3 14.0 12.5 CZ9.1 8.1 7.5 7.0 6.3 5.6 5.7 6.6 6.5 8.0 DK6.6 6.4 7.0 6.7b7.6b7.7 7.7 7.4 7.1 6.7 DE7.1 7.2 7.0 7.6 7.1 6.7 6.4 8.2b7.8 6.8 EE11.2 11.5 11.3 9.2 9.6 10.2 7.7 9.0 10.9 10.7 IE16.4 15.2 14.2 12.6 10.9 10.1 10.1 12.0 7.7 6.8 EL17.5 16.4 14.7 13.6 13.1 12.1 10.8 11.3 11.0 10.6 ES18.6 17.1 15.6 14.6 13.3 12.4 12.1 13.9 11.0d10.5dFR10.7 11.1 11.8 11.7 11.3 10.9 10.5 11.2 10.6d10.1dHR19.6 19.3 18.1 16.9 15.4 13.6 11.8 12.2 12.7 11.9 IT23.3 23.2 22.5 20.9 21.1 20.3 19.0 20.0 19.8 15.9 CY18.7 17.0 15.3 16.0 16.1 13.2 13.7 14.4 12.8 12.9 LV13.0 12.0 10.5 11.2 10.3 7.8 7.9 7.1 8.6 8.6 LT11.1 9.9 9.2 9.4 9.1 8.0 8.6 10.8 11.3 9.7 LU5.0 6.3 6.2b5.4 5.9 5.3 5.6 6.5 8.7 6.7 HU15.0 13.2 11.2 10.5 10.4 9.8 10.5 11.0 10.6 9.9 MT9.9 10.3 10.5 8.8 8.6 7.3 8.6 9.3 9.8 7.1 NL7.0 6.9 6.0 5.9 5.3 5.5 5.5 5.8 2.6 2.8 AT8.0 8.4 8.2 8.4 7.1 7.5 7.8 8.6 8.5 8.1 PL12.5 12.2 11.2 10.8 9.7 8.8 8.2 8.8 11.2 8.0 PT14.1 12.3 11.3 10.6 9.3 8.4 8.0 9.1 7.6 6.6 RO21.4 21.4 22.8 21.3 19.1 18.3 18.4 18.4 18.0 17.5 SI8.5 8.6 8.7 7.4 6.0 6.0 6.3 6.9 6.6 8.2 SK14.0 13.0 14.0 12.4 12.2 10.3 10.4 10.8 11.0 9.6 FI8.5 9.2 9.7 9.1 8.6 7.9 7.5 8.4 7.6 7.6 SE7.2 6.9 6.5 6.3 5.9 5.8b5.3 6.2 5.1 4.9 Theindicatoryoungpeopleneitherinemploymentnorineducationandtraining(NEET)providesinformationonyoungpeoplewhomeetthefollowingtwoconditions:(a)theyarenotemployedand(b)theyhavenotreceivedanyeducationortraininginthefourweeksprecedingthesurvey.ForthepurposesoftheMIPScoreboardtheagegroup15-24isconsidered.Dataareexpressedasapercentageofthetotalpopulationinthesameagegroup.Thedatasource is the quarterly EU Labour Force Survey (EU-LFS), which covers the resident population in private households.Flags:b:Break in series. d:Definition differs. 1)2022-2021,ES-FR:d=SpainandFrancehaveassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,butareexpectedtoreturntothesamejobonceCOVID-19healthmeasuresallowit.2)2021,BE:b=changesinthenationalquestionnaireregardingthevariablesontheparticipationineducationandtraining.3)2020,DE:b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyin2020arenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafromotherintegratedhouseholdsurveys.4)2018,SE:b=followingthedetectionofqualitydeficiencies,onlyhalfofthesampleused.5)2017,b=changeinthesurveymethodologyforBE;b=LabourForceSurveydatacollectionimprovement,introduction of CAWI (starting with 2016) for DK. 6) 2015, b = change in sampling strategy and data collection technique for LU.Source: European Commission, Eurostat 
 
 
 
Table 3.45: People at risk of poverty or social exclusion - % of total population 

89 

2013201420152016201720182019202020212022EUnana24.0 23.7 22.4 21.7 21.1 21.6b21.7 21.6    EAnana23.0 22.8 21.8 21.4 20.7 21.6 22.0 21.8 BEnana21.6 22.2 22.0 20.5 20.0b20.3 18.8 18.7 BGnana43.3 41.0b38.0 33.0 33.2 33.5 31.7 32.2 CZnana13.0 12.4 12.1 11.8 12.1 11.5 10.7 11.8 DKnana18.6 17.5 17.8 17.5 17.3 16.8b17.3 17.1 DEnana20.0 19.8 18.8 18.5 17.3 20.4b21.0 20.9 EEnana23.6 23.1 23.3 23.6 23.7 22.8 22.2 25.2 IEnana25.4 23.8 22.4 20.8 20.4 20.1b20.0 20.7 ELnana32.4 32.6 32.2 30.3 29.0 27.4 28.3 26.3 ESnana28.7 28.8 27.5 27.3 26.2 27.0 27.8 26.0 FRnana18.4 18.7 17.8 17.9 18.8 19.3b19.2 21.0bHRnana24.4 23.5 23.7 22.1 20.8 20.5 20.9 19.9 ITnana28.4 27.8 25.9 25.7 24.6 24.9 25.2 24.4 CYnana22.8 22.6 21.4 19.1 18.6 17.6 17.3 16.7 LVnana30.0 28.2 28.5 28.4 26.7 25.1 26.1 26.0 LTnana29.4 30.0 29.8 28.5 25.5 24.5 23.5 24.6 LUnana18.4 19.1b19.3 20.1 20.1 19.9b21.1b19.4bHUnana30.6 28.6 25.9 20.6 20.0 19.4 19.4 18.4 MTnana22.2 20.2 19.4 19.2 20.7 19.9 20.3 20.1 NLnana16.4 16.3b16.6 16.5 16.5 16.0 16.6 16.5 ATnana16.9 17.2 17.1 16.8 16.5 16.7 17.3 17.5 PLnana22.5 20.6 18.7 18.2 17.9 17.0 16.8 15.9 PTnana26.4 24.9 23.4 21.6 21.1 20.0 22.4 20.1 ROnana44.5 46.0 42.5 38.7 36.1 35.6 34.5 34.4 SInana17.7 16.9 16.6 15.4 13.7 14.3 13.2 13.3 SKnana17.3 17.1 15.8 15.2 14.8 13.8 15.6 16.5 FInana16.9 16.5 16.0 16.6 14.5b14.9 14.2 16.3bSEnana18.2 17.7 17.2 17.7 18.4 17.7 17.2 18.6 Peopleatriskofpovertyorsocialexclusioncorrespondstothesumofpersonswhoareatriskofpovertyorseverelymateriallydeprivedorlivinginhouseholdswithverylowworkintensity.Personsareonlycountedonce,evenwhentheyarepresentinmorethanoneofthethreesub-indicators.Atrisk-of-povertyarepersonswithanequaliseddisposableincomebelowtherisk-of-povertythreshold,whichissetat60%ofthenationalmedianequaliseddisposableincome(aftersocialtransfers).Severelymateriallydeprivedarepersonshavinglivingconditionsseverelyconstrainedbyalackofresources,theyexperienceatleastsevenoutofthirteendeprivationitems.Personslivinginhouseholdswithverylowworkintensityarethoseaged0-64livinginhouseholdswheretheadults(aged18-64)workedaworkingtimeequalorlessthan20%oftheirtotalcombinedwork-timepotentialduringthepastyear.Studentsaged18-24,peoplewhoareretiredorwhoreceiveanypension(exceptsurvivor’spension),peopleaged60-64whoareinactiveandlivinginahouseholdwherethemainincomeispensions,areexcluded.Thedatasourceis EU Statistics on Income and Living Conditions (EU SILC).1)In2022,b=forFR,inclusionoffouroverseasdepartments(FrenchGuiana,Réunion,MartiniqueandGuadeloupe)intheSILCexercise;b=forLU,introductionofaCAPIcomponentforthenewlyselectedhouseholds;b=forFI,disruptionoftheregisters’useforthedefinitionofpersonspermanentlydisableor/andunabletowork.2)In2021,b=forLU,IntroductionofaCAWIcomponentforthenewlyselectedhouseholds.3)In2020,b=forDE,majorsubstantiveandmethodologicalchanges;forDK,methodologicalrevisionsonincomevariables;forIE,increaseduseofadministrativedata;forFR,changeoccurredinthedurationofthepanelforpovertylongitudinalindicators(from9to4years);forLU,changefromCAPItoCATImodeofdatacollection.4)In2019,b=forBE,majorsubstantiveandmethodologicalchanges.5)In2016,b=forBG,theincreaseofrotationalgroupsfrom4to6in2016leadstoincreaseofoverallsamplesize:thenumberofpensioners(fromNationalSocialSecurityInstitute)wasusedascalibrationvariableforthefirsttime;forLU,newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment,bettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister;forNL,introductionofCAWI,oversamplingoflowerincomegroups, use of register information for housing costs, changes in fieldwork period, weighting, calculation of imputed rent.Source: European Commission, EurostatFlags:b:Break in series.  
 
 
 
Table 3.46: People at risk of poverty after social transfers - % of total population 

90 

2013201420152016201720182019202020212022EU16.8 17.3 17.4 17.5 16.9 16.8 16.5 16.7b16.8 16.5    EAna17.2 17.3 17.4 17.1 17.0 16.4 16.8 17.0 16.8 BE15.1 15.5 14.9 15.5 15.9 16.4 14.8b14.1 12.7 13.2 BG21.0 21.8 22.0 22.9b23.4 22.0 22.6 23.8 22.1 22.9 CZ8.6 9.7 9.7 9.7 9.1 9.6 10.1 9.5 8.6 10.2 DK11.9 12.1 12.2 11.9 12.4 12.7 12.5 12.1b12.3 12.4 DE16.1 16.7 16.7 16.5 16.1 16.0 14.8 16.1b16.0 14.7 EE18.6 21.8 21.6 21.7 21.0 21.9 21.7 20.7 20.6 22.8 IE15.7 16.8 16.2 16.8 15.6 14.9 13.1 13.8b12.9 14.0 EL23.1 22.1 21.4 21.2 20.2 18.5 17.9 17.7 19.6 18.8 ES20.4 22.2 22.1 22.3 21.6 21.5 20.7 21.0 21.7 20.4 FR13.7 13.3 13.6 13.6 13.2 13.4 13.6 14.2b14.3 15.6bHR19.5 19.4 20.0 19.5 20.0 19.3 18.3 18.3 19.2 18.0 IT19.3 19.4 19.9 20.6 20.3 20.3 20.1 20.0 20.1 20.1 CY15.3 14.4 16.2 16.1 15.7 15.4 14.7 14.3 13.8 13.9 LV19.4 21.2 22.5 21.8 22.1 23.3 22.9 21.6 23.4 22.5 LT20.6 19.1 22.2 21.9 22.9 22.9 20.6 20.9 20.0 20.9 LU15.9 16.4 15.3 15.8b16.4 16.7 17.5 17.4b18.1b17.4bHU15.0 15.0 14.9 14.5 13.4 12.8 12.3 12.3 12.6 12.1 MT15.8 15.8 16.6 16.5 16.7 16.8 17.1 16.9 16.9 16.7 NL10.4 11.6 11.6 12.7b13.2 13.3 13.2 13.4 14.4 14.5 AT14.4 14.1 13.9 14.1 14.4 14.3 13.3 13.9 14.7 14.8 PL17.3 17.0 17.6 17.3 15.0 14.8 15.4 14.8 14.8 13.7 PT18.7 19.5 19.5 19.0 18.3 17.3 17.2 16.2 18.4 16.4 RO23.0 25.1 25.4 25.3 23.6 23.5 23.8 23.4 22.5 21.2 SI14.5 14.5 14.3 13.9 13.3 13.3 12.0 12.4 11.7 12.1 SK12.8 12.6 12.3 12.7 12.4 12.2 11.9 11.4 12.3 13.7 FI11.8 12.8 12.4 11.6 11.5 12.0 11.6 12.2 10.8 12.7 SE16.0 15.6 16.3 16.2 15.8 16.4 17.1 16.1 15.7 16.0 Flags:b:Break in series. 1)In2022,b=forFR,inclusionoffouroverseasdepartments(FrenchGuiana,Réunion,MartiniqueandGuadeloupe)intheSILCexercise;b=forLU,introductionofaCAPIcomponentforthenewlyselectedhouseholds.2)In2021,b=forLU,IntroductionofaCAWIcomponentforthenewlyselectedhouseholds.3)In2020,b=forDE,majorsubstantiveandmethodologicalchanges;forDK,methodologicalrevisionsonincomevariables;forIE,increaseduseofadministrativedata;forFR,changeoccurredinthedurationofthepanelforpovertylongitudinalindicators(from9to4years);forLU,changefromCAPItoCATImodeofdatacollection.4)In2019,b=forBE,major substantive and methodological changes. 5) In 2016, b = for BG, the 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) wasusedascalibrationvariableforthefirsttime;forLU,newproceduresdevelopedindatavalidationandcompilation,weighting,estimationandimputation,adjustment,bettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister;forNL,introductionofCAWI,oversamplingoflowerincomegroups,useofregisterinformationforhousingcosts,changesinfieldworkperiod,weighting,calculationof imputed rent.Source: European Commission, EurostatTheindicatormeasurespersonswithanequaliseddisposableincomebelowtherisk-of-povertythreshold,whichissetat60%ofthenationalmedianequaliseddisposableincome(aftersocialtransfers)asa%oftotalpopulation.The source of the data is EU Statistics on Income and Living Conditions (EU-SILC). 
 
 
 
 
Table 3.47: Severely materially and socially deprived people - % of total population 

91 

2013201420152016201720182019202020212022EUnana9.7 9.0 7.8 7.1 6.7 6.8 6.3 6.7    EAnana7.9 7.4 6.3 6.1 5.8 6.1 5.7 6.1 BEnana7.2 8.4 7.2 6.5 6.3 6.7 6.3 5.8 BGnana36.8 33.5 30.0 22.3 22.1 22.1 19.1 18.7 CZnana4.5 3.5 3.4 2.4 2.1 1.9 1.8 2.1 DKnana3.2 2.6 3.6 3.5 3.8 3.5 3.1 3.2 DEnana5.7 4.7 3.7 3.4 3.0 4.4b4.3 6.1 EEnana3.5 2.2 4.0 3.1 2.6 2.3 1.9 3.3 IEnana9.4 8.0 6.9 6.1 7.1 5.7b5.1 5.8 ELnana17.6 18.4 18.3 16.1 15.8 14.9 13.9 13.9 ESnana7.4 8.5 8.3 8.7 7.7 8.5 8.3 7.7 FRnana6.8 6.7 6.3 6.7 7.3 7.0b5.9 7.7bHRnana8.4 7.3 7.1 6.1 4.6 4.4 3.5 4.0 ITnana12.1 10.1 6.6 6.5 6.4 6.2 5.9 4.5 CYnana7.9 6.6 6.1 3.8 3.2 3.2 2.6 2.7 LVnana15.4 12.6 12.9 10.4 7.5 7.0 5.3 7.8 LTnana14.6 15.4 14.4 12.0 9.7 8.1 6.4 6.0 LUnana2.5 2.0 1.9 1.6 1.4 1.7b2.4b2.0bHUnana24.1 20.6 16.1 11.9 10.9 10.7 10.2 9.1 MTnana8.2 5.2 4.3 4.7 5.0 5.1 5.4 4.9 NLnana3.2 2.6 2.6 2.6 2.8 2.2 2.1 2.5 ATnana2.9 3.3 3.4 2.8 2.7 3.0 1.8 2.3 PLnana7.8 5.4 5.3 4.5 3.5 2.6 2.9 2.8 PTnana10.9 9.1 8.0 6.6 5.6 5.4 6.0 5.3 ROnana34.0 35.9 32.4 28.3 24.5 25.3 23.1 24.3 SInana4.8 4.1 4.5 3.2 2.2 2.6 1.8 1.4 SKnana8.4 7.6 6.3 5.4 5.9 4.5 5.7 6.3 FInana1.0 1.2 1.8 2.2 1.9 1.8 1.1 1.9 SEnana1.1 0.7 1.0 1.4 1.5 2.0 1.4 2.3 Severelymateriallydeprivedpersonshavelivingconditionsseverelyconstrainedbyalackofresources,suchthattheyexperienceanenforcedlackofatleast7outof13deprivationitems:i)capacitytofaceunexpectedexpenses,ii)capacitytoaffordpayingforoneweekannualholidayawayfromhome,iii)capacitytobeingconfrontedwithpaymentarrears(onmortgageorrentalpayments,utilitybills,hirepurchaseinstalmentsorotherloanpayments),iv)capacitytoaffordamealwithmeat,chicken,fishorvegetarianequivalenteverysecondday,v)abilitytokeephomeadequately,vi)haveaccesstoacar/vanforpersonaluse,vii)replacingworn-outfurniture,viii)havinginternetconnection,ix)replacingworn-outclothesbysomenewones,x)havingtwopairsofproperlyfittingshoes(includingapairofall-weathershoes),xi)spendingasmallamountofmoneyeachweekonhim/herself,xii)havingregularleisure activities, or xiii) getting together with friends/family for a drink/meal at least once a month. The data source is EU Statistics on Income and Living Conditions (EU SILC).Flags:b:Break in series. 1)In2022,b=forFR,inclusionoffouroverseasdepartments(FrenchGuiana,Réunion,MartiniqueandGuadeloupe)intheSILCexercise;b=forLU,introductionofaCAPIcomponentforthenewlyselectedhouseholds.2)In2021,b=forLU,IntroductionofaCAWIcomponentforthenewlyselectedhouseholds.3)In2020,b=forDE,majorsubstantiveandmethodologicalchanges;forIE,increaseduseofadministrativedata;forFR,changeoccurredin the duration of the panel for poverty longitudinal indicators (from 9 to 4 years); for LU, change from CAPI to CATI mode of data collection.Source: European Commission, Eurostat 
 
 
 
 
Table 3.48: People living in households with very low work intensity - % of total population aged 0-64  

92 

2013201420152016201720182019202020212022EUnana10.1 10.0 9.1 8.5 8.0 8.3 9.0 8.3    EAnana10.9 10.8 9.9 9.1 8.7 9.1 10.0 9.1 BEnana15.0 15.2 14.5 13.1 12.8 12.3 11.9 11.5 BGnana11.5 11.5 11.1 9.0 9.2 8.4 8.4 8.6 CZnana6.8 6.7 5.7 4.5 4.4 4.4 5.4 4.5 DKnana11.9 11.1 10.5 10.0 9.5 9.1 9.7 8.8 DEnana9.5 9.4 8.7 8.0 7.6 8.3b9.5 9.7 EEnana6.2 5.5 5.4 5.3 5.3 4.8 5.1 5.7 IEnana18.8 17.8 16.1 13.2 13.8 11.5b13.0 10.5 ELnana15.3 15.7 14.3 13.6 12.7 11.8 12.1 9.5 ESnana15.4 14.9 12.8 10.8 10.9 10.0 11.6 8.7 FRnana8.3 7.8 7.7 7.5 7.1 9.7b10.8 9.9bHRnana12.3 11.1 10.6 9.3 7.5 7.2 7.5 6.3 ITnana11.2 12.1 10.8 10.7 9.6 10.2 10.8 9.8 CYnana10.4 10.1 8.7 8.1 6.6 5.3 5.8 4.1 LVnana7.7 7.0 7.3 7.3 7.4 7.4 6.6 7.2 LTnana9.1 10.2 9.4 9.2 7.6 7.2 8.1 8.3 LUnana5.4 6.5 6.5 7.8 6.9 7.1b5.5b3.5bHUnana8.8 7.7 6.3 5.5 4.9 4.9 5.4 6.2 MTnana9.2 6.8 6.6 5.3 4.9 5.4 5.3 3.8 NLnana10.0 9.5 9.4 8.4 8.9 8.7 8.6 8.4 ATnana6.3 7.0 7.2 6.4 6.6 6.1 7.4 5.7 PLnana6.9 6.6 5.8 5.7 5.0 4.3 4.2 3.8 PTnana10.2 8.5 7.7 6.9 6.2 5.0 5.3 5.6 ROnana6.2 6.4 5.4 6.0 4.5 4.7 3.5 4.2 SInana5.8 6.0 5.2 4.4 4.3 3.9 3.6 3.8 SKnana7.0 6.4 5.3 5.2 6.3 4.3 4.9 3.8 FInana11.5 12.1 11.4 11.1 8.1b8.3 8.6 10.1bSEnana7.8 7.8 8.2 8.3 8.3 7.9 8.8 8.2 Peoplelivinginhouseholdswithverylowworkintensityarepeopleaged0-64livinginhouseholdswheretheadults(aged18-64)workedlessthan20%oftheirtotalworkpotentialduringthepastyear.Students,thosewhoareretired or who receive any pension (except survivors pension) are excluded. Data are expressed  in % of population aged 0-64. The source of the data is EU Statistics on Income and Living Conditions (EU SILC).Flags:b:Break in series. In2022,b=forFR,inclusionoffouroverseasdepartments(FrenchGuiana,Réunion,MartiniqueandGuadeloupe)intheSILCexercise;b=forLU,introductionofaCAPIcomponentforthenewlyselectedhouseholds;b=forFI,disruptionoftheregisters’useforthedefinitionofpersonspermanentlydisableor/andunabletowork.2)In2021,b=forLU,IntroductionofaCAWIcomponentforthenewlyselectedhouseholds.3)In2020,b=forDE,majorsubstantiveandmethodologicalchanges;forIE,increaseduseofadministrativedata;forFR,changeoccurredinthedurationofthepanelforpovertylongitudinalindicators(from9to4years);forLU,changefromCAPItoCATImode of data collection.Source: European Commission, Eurostat 
 
 
Chapter 4: Tables by Member State and Aggregates - Headline indicators  
Table 4.1: The MIP scoreboard for European Union 

93 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%1.6 2.2 2.6 2.8 3.0 3.0 2.7 2.4 2.5 1.5 Net international investment position% of GDP-35%-21.9e-19.2e-18.5e-14.4e-13.3e-8.9e-5.1e-3.5e0.0e1.5eReal effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-2.5 -2.4 -5.4 -6.5 -4.6 9.5 3.4 4.1 0.2 -1.0 Export market share - % of world exports5 year % change-6%-10.7 -9.0 1.3 6.2 8.3 5.4 4.0 3.6 -4.0 -8.0 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)3.6 3.5 1.4 1.0 1.7 3.5 4.7 8.3 6.3 7.8 House price index, deflated 1 year % change+6%-2.8 0.4 2.0 4.1 3.2 3.6 3.6 5.0 5.8 0.5 Private sector credit flow, consolidated% of GDP+14%0.9 0.6 2.2 3.9b3.9 4.4 4.3 6.1 6.5 5.5pPrivate sector debt, consolidated% of GDP+133%143.5 141.2 140.9 139.8b136.6 135.5 135.2 146.2 140.9 133.0pGeneral government gross debt% of GDP+60%86.8 86.9 85.1 84.3 81.9 79.8 77.7 90.0 87.4 83.5 Unemployment rate3 year average+10%10.9 11.2 10.9 10.2 9.3 8.3 7.5 7.1 7.0 6.8 Total financial sector liabilities, non-consolidated1 year % change+16.5%-1.1 9.8 5.2 4.9b2.7 0.4b6.9b7.0 8.8 -2.3pActivity rate - % of total population aged 15-643 year change in pp-0.2 pp1.1 1.3 1.1 1.1 1.2 1.3 1.3 0.0 0.8 1.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp1.4 1.1 0.0 -1.1 -1.7 -1.8 -1.6 -1.2 -0.3 -0.3 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp2.8 1.5 -2.0 -4.5 -5.6 -5.7 -5.1 -0.9 0.0 -1.1 European UnionExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. e:Estimated. p:Provisional. 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 euro area 

94 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average -4%/+6%nana2.4 2.7 2.9 3.0 2.8 2.3 2.3 1.3 Net international investment position% of GDP-35%-20.2 -17.9 -17.3 -13.6 -12.3 -8.0 -4.4 -2.4 1.4 3.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-2.0 -1.0 -3.6 -4.5 -3.6 8.4 3.1 3.8 0.0 -1.1 Export market share - % of world exports5 year % change-6%nanananana6.9 4.4 3.1 -3.8 -8.4 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)3.7 3.9 2.2 1.7 1.8 3.5 4.7 8.7 6.4 7.9 House price index, deflated 1 year % change+6%-3.1 -0.2 1.2 3.6 3.0 3.2 3.2 4.6 5.5 0.4 Private sector credit flow, consolidated% of GDP+14%0.8 0.3 2.0 3.6 3.6 4.2 4.0 6.2 6.1 5.3pPrivate sector debt, consolidated% of GDP+133%144.9 142.6 142.3 140.8 137.6 137.0 136.8 148.6 143.2 136.2pGeneral government gross debt% of GDP+60%93.0 93.2 91.3 90.4 88.1 86.1 84.1 97.2 94.7 90.9 Unemployment rate3 year average+10%11.3 11.8 11.6 10.9 10.1 9.1 8.3 7.9 7.8 7.5 Total financial sector liabilities, non-consolidated1 year % change+16.5%-1.5 10.1 5.5 4.4 2.4 0.6b6.5b6.7 8.6 -2.4pActivity rate - % of total population aged 15-643 year change in pp-0.2 pp0.8 1.0 0.7 0.8 0.8 0.9 0.9 -0.5 0.3 0.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp1.6 1.4 0.3 -1.0 -1.7 -1.8 -1.7 -1.4 -0.4 -0.4 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp3.1 2.4 -1.2 -3.7 -5.1 -5.6 -5.2 -1.3 -0.6 -1.7 Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. p:Provisional. euro areaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.3: The MIP scoreboard for Belgium 

95 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-0.4 0.5 1.0 0.9 0.9 0.1 0.0 0.2 0.9 0.6 Net international investment position% of GDP-35%43.2 44.8 45.2 54.5 56.0 34.3 40.9 47.3 67.7 57.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.2 -0.6 -1.7 -0.4 0.9 7.0 2.7 2.4 0.5 1.7 Export market share - % of world exports5 year % change-6%-13.2 -13.5 -13.7 -5.2 1.5 -1.4 -2.5 8.9 3.8 -1.9 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)7.4 4.3 0.4 -0.7 1.4 4.0 4.8 7.0 4.9 10.1pHouse price index, deflated 1 year % change+6%0.1 -1.3 0.8 1.1 1.7 0.8 2.5 3.3 4.5 -3.8 Private sector credit flow, consolidated% of GDP+14%8.5 -2.4 11.0 23.8 0.8 -1.3 4.8 -3.0 6.2 5.7pPrivate sector debt, consolidated% of GDP+133%162.8 160.9 173.6 193.4 185.5 180.3 178.5 182.8 172.4 161.4pGeneral government gross debt% of GDP+60%105.5 107.0 105.2 105.0 102.0 99.9 97.6 111.8 108.0 104.3 Unemployment rate3 year average+10%7.8 8.3 8.7 8.4 7.9b7.0b6.2b5.8 5.9 5.9 Total financial sector liabilities, non-consolidated1 year % change+16.5%1.2 2.6 2.6 2.7 1.3 -3.9 5.8 8.0 8.1 -2.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.1 1.0 0.7 0.1 0.2b0.9 1.4 0.4b1.1 1.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp-0.2 0.8 0.9 0.2 -0.8b-1.4 -1.6 -1.0 0.0 0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp1.5 4.5 2.5 -3.6 -4.0b-6.5 -5.8 -3.5 2.2 1.9 External imbalances and competitivenessInternal imbalancesFigures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Labour Force Survey indicators, 2017: 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)BelgiumEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 4.4: The MIP scoreboard for Bulgaria 

96 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%0.3 0.6 0.8 1.4 2.1 2.4 2.0 1.0 0.1 -1.0 Net international investment position% of GDP-35%-73.2 -72.0 -61.5 -47.5 -43.0 -37.0 -30.2 -25.6 -18.6 -12.9 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.9 -2.8 -4.3 -4.7 -3.3 4.2 4.7 6.9 3.7 5.8 Export market share - % of world exports5 year % change-6%-0.4 5.4 12.9 9.1 19.9 12.9 14.9 15.4 11.3 15.5 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)16.2 19.2 17.2 11.1 15.8 20.5 20.4 19.9 16.4 23.6 House price index, deflated 1 year % change+6%-0.8 0.1 0.4b5.3 3.9 4.1 3.9 5.2 2.5 -2.1bPrivate sector credit flow, consolidated% of GDP+14%2.6 2.3 -3.8 2.9 4.5 4.0 5.6 4.2 4.9 5.9 Private sector debt, consolidated% of GDP+133%130.1 125.1 108.8 104.0 98.7 95.0 90.8 92.1 84.0 74.6 General government gross debt% of GDP+60%17.0 27.0 25.9 29.1 25.1 22.1 20.0 24.6 23.9 22.6 Unemployment rate3 year average+10%13.2b13.2 12.1 10.4 8.6 7.3 6.2 5.8 5.5 5.2 Total financial sector liabilities, non-consolidated1 year % change+16.5%1.1 7.9 9.6 9.5 7.1 6.6 5.3 10.6 9.6 12.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.7b3.1b2.2 0.4 2.3 2.2 4.5 0.9 0.6 0.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp2.7 0.6 -1.1 -2.9 -3.5 -2.5 -2.1 -1.2 -1.0 -0.6 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp6.4 -1.3 -6.5 -11.1 -10.8 -8.8 -8.3 1.3 -0.1 -1.4 BulgariaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index, b = break in time series in 2015 due to full implementation of harmonised EU methodology and in 2022 due to new data source.Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.5: The MIP scoreboard for Czech Republic 

97 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-1.4 -0.6 0.0 0.8 1.3 1.3 0.8 0.9 -0.1 -2.3 Net international investment position% of GDP-35%-40.9 -36.3 -32.9 -27.2 -24.9 -24.4 -19.8 -16.3 -14.5 -19.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-3.1 -10.0 -8.2 -3.7 5.4 11.0 8.7 5.6 5.0 13.7 Export market share - % of world exports5 year % change-6%-10.0 -6.4 -2.1 2.5 8.2 10.9 4.6 7.8 -1.7 -7.7 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)4.3 4.6 0.6 3.3 5.7 13.1 14.5 18.7 13.9 14.8 House price index, deflated 1 year % change+6%-0.7 1.6 4.0 6.8 9.1 5.9 6.2 5.4 16.4 1.6 Private sector credit flow, consolidated% of GDP+14%4.3 2.3 -0.4 6.2 6.0 6.8 1.4 0.6 2.9 4.5 Private sector debt, consolidated% of GDP+133%84.8 83.0 78.2 80.4 80.3 83.0 78.6 81.7 78.8 76.1 General government gross debt% of GDP+60%44.4 41.9 39.7 36.6 34.2 32.1 30.0 37.7 42.0 44.2 Unemployment rate3 year average+10%6.9b6.7 6.1 5.1 4.0 3.0 2.4 2.3 2.5 2.5 Total financial sector liabilities, non-consolidated1 year % change+16.5%10.1 5.2 7.9 16.8 28.3 3.4 4.6 4.8 7.8 3.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.7 3.0b2.4 2.1 2.4 2.6 1.7 0.5 0.0 0.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp0.0 0.0 -0.6 -1.3 -1.7 -1.7 -1.1 -0.4 0.1 0.0 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp0.7 -2.2 -6.9 -8.5 -8.0 -5.9 -4.9 0.1 1.5 1.2 Figures 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.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)Czech RepublicExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
Table 4.6: The MIP scoreboard for Denmark 

98 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%6.9 7.7 8.3 8.3 8.0 7.7 7.9 7.9 8.6 10.2 Net international investment position% of GDP-35%37.2 43.3 30.8 52.6 55.4 64.0 77.7 69.0 72.9 58.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-2.5 -1.2 -1.7 -1.7 -2.1 2.6 -0.3 0.9 -1.1 -1.2 Export market share - % of world exports5 year % change-6%-18.0 -16.1 -8.7 -3.1 1.4 -0.2 1.5 10.5 5.7 12.4 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)1.5 2.3 2.2 1.3 0.9 1.2 3.4 7.3 4.8 7.2 House price index, deflated 1 year % change+6%3.1 3.1 6.6 5.1 3.5 3.7 1.4 4.7 9.5 -7.4 Private sector credit flow, consolidated% of GDP+14%-3.0 -0.3 2.9 3.1b2.0 4.8 10.5 5.4 11.5 13.1 Private sector debt, consolidated% of GDP+133%216.1 214.0 211.4 222.4b216.7 215.3 221.2 217.1 206.9 188.0 General government gross debt% of GDP+60%44.0 44.3 39.8 37.2 35.9 34.0 33.7 42.3 36.0 29.8 Unemployment rate3 year average+10%7.7 7.4 6.9 6.4b6.0b5.6b5.3b5.2 5.2 5.1 Total financial sector liabilities, non-consolidated1 year % change+16.5%1.8 7.3 -0.9 15.4b2.5 -0.3 13.4 5.6 11.6 -1.6 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-1.4 -1.2 -0.3 0.9b1.3b1.3 1.6b1.1b1.4 1.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp0.4 -0.1 -0.5 -0.6b-0.5b-0.6 -0.4 -0.3 0.0 -0.3 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp-0.8 -2.2 -3.6 -2.6b-1.8b-1.7 -2.1 -0.8 0.3 0.5 DenmarkFigures 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) Labour Force Survey, 2016-2017: b = data collection improvement, introduction of CAWI.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 indicators¹ 
 
 
 
 
 
 
 
Table 4.7: The MIP scoreboard for Germany 

99 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%6.6 7.0 7.5 8.1 8.3 8.1 8.0 7.7 7.6 6.3 Net international investment position% of GDP-35%25.4 29.4 34.9 39.5 44.6 52.3 58.5 63.7 68.0 70.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.8 -0.4 -1.5 -2.1 -2.0 5.3 2.0 2.4 0.5 -0.5 Export market share - % of world exports5 year % change-6%-13.2 -9.7 -3.3 1.9 5.6 3.1 -0.5 1.6 -6.0 -13.0 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)6.0 7.4 6.2 5.2 4.9 6.0 8.1p10.5p7.0p7.2pHouse price index, deflated 1 year % change+6%1.7 2.2 4.1 6.7 4.6 5.1 4.4 7.2 8.3 -1.3 Private sector credit flow, consolidated% of GDP+14%2.7 0.2 2.9 4.6 4.2 6.2 6.4p6.8p6.8p6.7pPrivate sector debt, consolidated% of GDP+133%114.9 107.1 106.3 107.2 106.6 109.1 112.2p120.9p120.4p118.4pGeneral government gross debt% of GDP+60%78.3 75.3 71.9 69.0 65.2 61.9 59.6 68.8 69.0 66.1 Unemployment rate3 year average+10%5.2b4.9 4.7 4.3 4.0 3.6 3.3 3.3b3.5b3.5bTotal financial sector liabilities, non-consolidated1 year % change+16.5%-6.4 5.3 3.1 5.4 4.1 3.2 7.3 11.4 7.2 1.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.0b0.5b0.4 0.3 0.5 1.1 1.3 0.3b1.0 1.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp-0.9 -0.5 -0.4 -0.6 -0.7 -0.6 -0.5 -0.4b-0.2 -0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp-2.2 -0.8 -0.9 -0.8 -1.1 -1.1 -1.3 0.8b0.4 -0.2 GermanyExternal 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 = 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 4.8: The MIP scoreboard for Estonia 

100 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-0.1 -0.3 0.9 1.2 1.8 1.5 1.9 0.5 -0.7 -2.6 Net international investment position% of GDP-35%-50.0 -47.0 -40.2 -39.5 -33.0 -29.9 -22.4 -21.0 -13.4 -20.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)3.1 4.8 5.8 4.4 3.1 7.6 5.9 4.9 1.9 8.8 Export market share - % of world exports5 year % change-6%9.7 20.3 7.1 -0.9 1.6 -0.2 1.4 15.8 18.6 17.0 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)11.6 14.7 15.0 12.6 12.3 14.2 16.0 14.6 10.0 19.0 House price index, deflated 1 year % change+6%7.3 12.9 7.3 3.7 1.1 2.3 4.2 7.0 10.4 4.5 Private sector credit flow, consolidated% of GDP+14%4.6 6.3 2.3 6.4 4.2 4.6 3.4 2.9 6.8 9.2 Private sector debt, consolidated% of GDP+133%116.7 116.9 113.3 111.9 106.2 101.2 98.3 101.5 96.9 94.3 General government gross debt% of GDP+60%10.2 10.6 10.1 10.0 9.1 8.2 8.5 18.6 17.8 18.5 Unemployment rate3 year average+10%10.3 8.6 7.4 6.8 6.3 6.0 5.2 5.6 5.9 6.2 Total financial sector liabilities, non-consolidated1 year % change+16.5%11.4 12.6 7.5 8.9 12.3 6.6 11.6 18.0 18.5 1.6 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.2 0.7 1.4 2.1 3.3 2.3 1.3 0.4 -0.2 2.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp-3.7 -3.7 -3.0 -1.6 -1.3 -1.1 -1.3 -0.8 0.3 0.4 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp-14.0 -7.4 -6.4 -4.6 -2.8 -2.3 -2.4 6.2 4.7 7.0 EstoniaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold.1) For the employment indicators, see page 2 of the AMR 2016. Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.9: The MIP scoreboard for Ireland 

101 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-1.2 -0.3 2.3 0.4 0.2 0.5 -4.7 -7.1 -4.2 6.0 Net international investment position% of GDP-35%-133.7 -164.2 -197.9 -172.9 -166.4 -182.9 -193.6 -165.0 -130.9 -116.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-3.8 -3.6 -6.4 -7.1 -6.3 2.3 -1.5 -1.3 -2.6 -4.6 Export market share - % of world exports5 year % change-6%-10.8 -14.8 37.6 58.2 70.7 78.2 72.7 51.7 40.4 32.1 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)-1.7b-3.2 -18.8 -15.6 -14.1 -1.2 -4.0 -6.5 -9.4 -10.6 House price index, deflated 1 year % change+6%0.0 15.5 11.0 7.0 9.3 8.2 0.5 -0.4 4.2 5.0 Private sector credit flow, consolidated% of GDP+14%-0.7 2.5 -2.2 -14.8 0.2 -8.7 -9.6 -3.8 1.9 2.0 Private sector debt, consolidated% of GDP+133%266.3 275.9 303.2 284.6 248.5 230.2 209.5 190.3 168.1 147.1 General government gross debt% of GDP+60%120.1 104.0 76.5 74.4 67.4 62.9 57.1 58.1 54.4 44.4 Unemployment rate3 year average+10%14.9 13.7 11.9 10.1 8.3 7.0 5.8 5.6 5.7 5.5 Total financial sector liabilities, non-consolidated1 year % change+16.5%1.8 18.9 9.7 1.8 4.2 5.1 15.4 7.6 18.9 -4.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.2 0.6 0.9 0.8 0.8 0.8 0.6 -1.8 1.8 3.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp1.0 -2.2 -3.9 -3.7 -3.6 -3.2 -2.6 -1.6 -0.3 -0.3 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp-1.4 -6.2 -10.6 -9.9 -9.0 -6.4 -4.3 1.4 0.7 -2.4 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. 3) Private sector credit flow and Private sector debt, 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 4.10: The MIP scoreboard for Greece 

102 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-4.6 -1.9 -1.0 -1.1 -1.5 -2.2 -2.1 -3.7 -5.0 -7.9 Net international investment position% of GDP-35%-131.0 -133.0 -136.1 -139.1 -143.4 -148.6 -154.1 -174.3 -173.0 -144.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-4.4 -5.6 -5.6 -4.0 -2.9 3.8 0.5 0.3 -3.3 -2.5 Export market share - % of world exports5 year % change-6%-26.8 -19.5 -14.1 -10.0 -0.7 6.2 3.0 -10.9 8.6 12.6 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)-4.4 -8.5 -11.0 -4.7 -3.3 -1.0 -1.1 6.0 3.7p3.5pHouse price index, deflated 1 year % change+6%-9.3e-5.2e-3.8e-1.5e-1.4e1.7e7.2e5.7e6.5e4.4ePrivate sector credit flow, consolidated% of GDP+14%-4.1 -3.1 -3.1 -2.2 -1.2 -0.8 -0.9 5.5 0.8p1.1pPrivate sector debt, consolidated% of GDP+133%133.4 132.4 129.1 127.0 120.4 119.1 110.4 125.6 122.0p100.8pGeneral government gross debt% of GDP+60%178.2 180.3 176.7 180.5 179.5 186.4 180.6 207.0 195.0 172.6 Unemployment rate3 year average+10%23.6 26.4 26.5 25.2 23.6 21.8 19.8 18.4 16.7 14.9 Total financial sector liabilities, non-consolidated1 year % change+16.5%-17.5 -8.1 6.3 -10.3 -13.0 -4.7 11.6 27.7 14.3 -0.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.3 0.2 0.4 0.8 0.9 0.4 0.3 -2.9 -0.8 0.9 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp11.5 9.5 3.3 -1.3 -3.2 -3.9 -4.1 -3.8 -3.3 -3.6 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp25.6 7.8 -5.6 -11.0 -8.5 -9.1 -10.7 -6.5 -5.7 -6.1 Figures highlighted are the ones at or beyond the threshold. Flags:e:Estimated. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 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)Employment indicators¹Internal imbalancesGreeceExternal imbalances and competitiveness 
 
 
 
 
 
 
 
 
Table 4.11: The MIP scoreboard for Spain 

103 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-0.2 1.3 1.9 2.3 2.7 2.6 2.3 1.5 1.2 0.7 Net international investment position% of GDP-35%-92.8 -95.9 -88.9 -85.4 -85.5 -79.1 -72.8 -84.9 -71.0 -60.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.3 -1.0 -3.2 -4.3 -2.5 4.2 1.7 1.0 -0.5 -0.7 Export market share - % of world exports5 year % change-6%-10.5 -11.7 -3.5 2.7 9.4 4.2 2.1 -7.4 -12.1 -7.8 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)-5.1 -3.7 -1.2 -1.2 -0.6 1.0 5.9 15.2 13.8p10.8pHouse price index, deflated 1 year % change+6%-10.0 0.2 3.7 4.5 4.6 5.2 4.1 2.1 1.4 0.8 Private sector credit flow, consolidated% of GDP+14%-10.2 -7.1 -2.0 -0.4 0.7 0.0 1.5 4.8 3.0p0.3pPrivate sector debt, consolidated% of GDP+133%178.1 167.4 155.7 147.7 139.2 133.1 129.0 147.9 137.7p123.5pGeneral government gross debt% of GDP+60%100.5 105.1 103.3 102.7 101.8 100.4 98.2 120.3 116.8 111.6 Unemployment rate3 year average+10%24.1 25.1 24.2 22.1 19.6 17.4 15.5 15.0 14.8d14.4dTotal financial sector liabilities, non-consolidated1 year % change+16.5%-10.7 0.1 -1.5 2.0 4.4 -1.3 1.7 10.5 6.3 -4.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.8 0.3 0.0 -0.1 -0.3 -0.6 -0.4 -1.7 0.0d0.2dLong-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp5.7 4.0 0.4 -3.5 -5.2 -5.0 -4.2 -2.7 -0.2d-0.3dYouth unemployment rate - % of active population aged 15-243 year change in pp+2 pp14.0 7.0 -4.6 -11.1 -14.6 -14.0 -11.9 -0.3 0.5d-2.7d1) For the employment indicators, see page 2 of the AMR 2016.  2) Employment indicators and Unemployment rate: d = Spain has assessed the attachment to the job and included in employment those who had an unknown duration of absence from work, but are expected to return to the same job once COVID-19 health measures allow it. 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 indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:d:Definition differs. p:Provisional. SpainExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.12: The MIP scoreboard for France 

104 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-0.8 -0.8 -0.6 -0.6 -0.5 -0.7 -0.4 -0.6 -0.2 -1.1 Net international investment position% of GDP-35%-16.6 -15.6 -12.9 -13.0 -20.1 -19.3 -24.6 -29.4 -30.9 -23.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-2.2 -1.3 -2.9 -3.2 -3.0 4.5 1.6 2.6 -0.5 -3.8 Export market share - % of world exports5 year % change-6%-14.4 -14.7 -3.9 0.9 2.4 0.4 -1.0 -8.6 -11.8 -10.7 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)4.6 4.4 2.3 1.7 1.7 2.4 0.9 4.5 5.0p11.1pHouse price index, deflated 1 year % change+6%-2.5 -1.6 -1.6 0.8 2.3 1.2 2.5 4.1 4.8 1.5 Private sector credit flow, consolidated% of GDP+14%2.1 3.2 4.6 6.2 7.1 8.2 8.4 13.5 6.7p8.7pPrivate sector debt, consolidated% of GDP+133%137.4 141.5 142.8 143.2 145.0 148.4 153.1 173.9 167.5p163.9pGeneral government gross debt% of GDP+60%93.4 94.9 95.6 98.0 98.1 97.8 97.4 114.6 112.9 111.8 Unemployment rate3 year average+10%9.8 10.1 10.3 10.2 9.9 9.5 8.9 8.5 8.1d7.7dTotal financial sector liabilities, non-consolidated1 year % change+16.5%0.5 5.6 2.2 4.9 4.3 1.8b6.5b11.7 8.3 -1.3pActivity rate - % of total population aged 15-643 year change in pp-0.2 pp0.8 1.2 0.8 0.5 0.4 0.6 0.3 -0.4 0.2d1.0dLong-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp0.5 0.6 0.5 0.2 -0.2 -0.6 -0.8 -1.0 -0.2d-0.3dYouth unemployment rate - % of active population aged 15-243 year change in pp+2 pp1.7 1.6 0.3 -0.4 -2.2 -4.1 -5.3 -2.0 -3.1d-3.4dFranceExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. d:Definition differs. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Employment indicators and Unemployment rate: d = France has assessed the attachment to the job and included in employment those who had an unknown duration of absence from work, but are expected to return to the same job once COVID-19 health measures allow it.  Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.13: The MIP scoreboard for Croatia 

105 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%0.3 0.2 0.8 1.9 2.9 2.4 2.5 1.0 0.8 -0.9 Net international investment position% of GDP-35%-88.4 -88.5 -78.0 -71.5 -63.5 -55.7 -46.7 -45.2 -32.5 -25.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-3.9 -0.8 0.1 0.0 0.1 4.2 1.6 0.5 -1.5 -0.6 Export market share - % of world exports5 year % change-6%-23.4 -19.5 -6.0 9.1 22.8 21.9 21.7 -1.4 4.0 12.1 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)-4.9 -6.7 -6.0 -5.5 -4.1 -0.1 3.0 13.5 3.6 11.0pHouse price index, deflated 1 year % change+6%-5.7 -1.3 -2.6 2.0 2.9 4.6 7.8 7.1 4.9 3.2 Private sector credit flow, consolidated% of GDP+14%-0.6 -0.1 -1.5 -0.1 1.5 2.3 1.3 1.3 3.0 6.0pPrivate sector debt, consolidated% of GDP+133%114.5 114.7 109.6 102.3 96.0 92.3 88.4 97.2 86.7 79.3pGeneral government gross debt% of GDP+60%80.0 83.6 83.0 79.5 76.3 73.1 70.9 86.8 78.1 68.2 Unemployment rate3 year average+10%15.7 16.9 16.9 15.5 13.5 10.9 8.8 7.5 7.2 7.4 Total financial sector liabilities, non-consolidated1 year % change+16.5%2.6 1.0 0.8 3.8 4.2 4.9 6.5 7.2 11.8 9.5 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-1.4 2.0 3.0 1.9 0.3 -0.6 0.9 0.7 2.4 3.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp4.4 1.7 0.0 -4.4 -5.5 -6.8 -4.2 -2.5 -0.6 0.0 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp17.6 8.8 0.2 -18.7 -18.1 -18.6 -14.7 -6.3 -1.8 1.4 CroatiaExternal 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:p:Provisional.  
 
 
 
 
 
 
 
 
Table 4.14: The MIP scoreboard for Italy  

106 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-0.6 0.9 1.5 2.0 2.3 2.6 2.8 3.2 3.2 1.6 Net international investment position% of GDP-35%-23.5 -21.0 -19.5 -12.1 -7.5 -5.2 -2.0 0.9 7.5 4.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)0.1 0.2 -2.4 -3.4 -3.1 3.4 0.2 0.5 -1.8 -1.9 Export market share - % of world exports5 year % change-6%-20.6 -15.7 -9.9 -4.2 0.5 -0.3 -2.6 -3.1 -6.7 -8.4 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)2.9 2.6 2.0 1.5 1.2 2.3 3.2 6.5 3.5 4.9 House price index, deflated 1 year % change+6%-7.5 -4.9 -4.0 0.2 -2.1 -1.5 -0.7 1.8 1.0 -3.2 Private sector credit flow, consolidated% of GDP+14%-2.8 -0.3 -1.4 0.1 1.2 2.0 0.4 4.0 3.3 2.9 Private sector debt, consolidated% of GDP+133%122.0 119.8 116.0 112.1 109.4 107.7 106.0 118.4 111.3 105.5 General government gross debt% of GDP+60%132.5 135.4 135.3 134.8 134.2 134.5 134.2 154.9 147.1 141.7 Unemployment rate3 year average+10%10.6 12.1 12.4 12.2 11.7 11.2 10.6 9.9 9.6 9.0 Total financial sector liabilities, non-consolidated1 year % change+16.5%-2.3 1.0 1.4 3.3 1.9 -0.1 4.1 7.4 8.0 -5.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.3 1.9 0.8 1.9 1.7 1.8 0.9 -1.8 -1.1 -0.2 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp3.1 3.6 1.4 -0.3 -1.3 -0.9 -1.2 -1.8 -1.1 -1.3 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp12.0 13.5 5.0 -2.3 -8.1 -8.1 -8.5 -4.8 -2.5 -5.5 External imbalances and competitivenessItalyInternal imbalancesEmployment indicators¹Figures 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) 
 
 
 
 
 
 
 
Table 4.15: The MIP scoreboard for Cyprus 

107 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-2.5 -3.1 -2.0 -2.9 -3.2 -4.4 -4.9 -6.5 -7.2 -8.0 Net international investment position% of GDP-35%-162.1 -163.1 -153.5 -133.2 -135.7 -125.2 -115.4 -133.4 -104.0 -96.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.8 -1.7 -6.2 -7.4 -6.3 2.0 -0.3 -0.4 -2.4 -3.0 Export market share - % of world exports5 year % change-6%-12.2 -20.3 -4.9 7.7 20.9 21.7 25.0 38.5 32.5 20.7 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)-0.7 -6.5 -10.8 -9.3 -4.6 -0.4 5.2 5.8 2.4p-1.2pHouse price index, deflated 1 year % change+6%-3.9 -1.1 1.0b2.2 1.2 0.5 3.4 0.8 -4.2 -3.1 Private sector credit flow, consolidated% of GDP+14%-12.1 -0.8 4.3 12.0 7.6 11.4 -0.5 -1.4 6.5 -3.9pPrivate sector debt, consolidated% of GDP+133%340.2 351.1 345.3 326.6 303.6 281.8 265.5 267.2 242.1 213.4pGeneral government gross debt% of GDP+60%103.7 108.8 107.5 103.2 93.2 98.5 93.0 114.9 99.3 85.6 Unemployment rate3 year average+10%11.9 14.6 15.7 14.7 13.0 10.8 8.9 7.7 7.4 7.3 Total financial sector liabilities, non-consolidated1 year % change+16.5%-3.1 11.6 9.7 -0.2 0.8 -1.7 7.5 -7.0 3.6 -2.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.0 0.8 0.4 -0.2 -0.4 1.1 2.6 1.9 1.7 2.2 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp4.8 6.1 3.2 -0.3 -3.2 -4.1 -3.7 -2.4 -0.1 0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp22.3 13.6 5.1 -9.8 -11.3 -12.6 -12.5 -6.5 -3.1 2.0 Employment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index, 2015: 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)CyprusExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.16: The MIP scoreboard for Latvia 

108 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-3.3 -2.7 -1.7 -0.2 0.7 0.9 0.2 0.7 -0.5 -1.9 Net international investment position% of GDP-35%-67.9 -63.5 -59.6 -53.8 -51.1 -45.1 -40.1 -34.0 -27.3 -26.5 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.7 0.4 2.5 4.8 1.7 5.1 3.7 5.9 2.3 5.7 Export market share - % of world exports5 year % change-6%5.6 11.6 13.1 9.1 7.2 8.2 3.1 20.3 13.1 15.3 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)9.6 13.2 16.7 14.9 14.2 14.7 17.5 19.2 12.0 16.7 House price index, deflated 1 year % change+6%6.4 4.7 -2.8 7.3 5.3 6.3 5.5 3.5 7.2 -1.0 Private sector credit flow, consolidated% of GDP+14%-0.6 -4.6 -0.8 2.5 2.8 -0.2 1.1 -1.8 0.9 3.0 Private sector debt, consolidated% of GDP+133%90.7 82.2 78.3 78.3 75.6 69.8 66.4 65.2 58.5 52.5 General government gross debt% of GDP+60%40.3 41.6 37.0 40.3 38.9 37.0 36.7 42.2 44.0 41.0 Unemployment rate3 year average+10%14.4 12.6 10.9 10.2 9.4 8.6 7.5 7.3 7.3 7.5 Total financial sector liabilities, non-consolidated1 year % change+16.5%5.7 10.9 13.3 4.7 6.2 -3.5 4.6 10.6 13.3 4.1 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.1 1.8 1.4 2.4 2.5 1.9 1.1 1.1 -1.8 -0.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp-3.4 -4.7 -3.7 -1.9 -1.5 -1.5 -1.7 -1.2 -1.1 -0.7 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp-13.0 -11.4 -12.2 -5.7 -2.6 -4.1 -4.8 -2.1 2.6 2.6 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)LatviaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 4.17: The MIP scoreboard for Lithuania 

109 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-1.2 1.2 0.9 0.0 -1.0 -0.1 1.5 3.7 4.0 1.0 Net international investment position% of GDP-35%-50.8 -46.8 -43.8 -42.8 -37.3 -30.2 -23.5 -15.7 -7.4 -7.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.6 1.7 4.2 5.3 2.6 6.6 3.8 6.7 4.4 9.8 Export market share - % of world exports5 year % change-6%10.8 19.7 6.3 -1.6 3.4 2.8 16.1 38.3 36.6 28.8 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)6.1 8.7 11.8 15.0 16.3 16.4 16.5 17.3 18.7 27.7 House price index, deflated 1 year % change+6%0.4 6.4 4.7 4.4 5.2 4.5 4.5 6.0 10.9 0.4 Private sector credit flow, consolidated% of GDP+14%-0.2 0.2 2.6 4.4 4.5 4.3 2.6 0.3 5.8 6.8 Private sector debt, consolidated% of GDP+133%56.6 54.1 55.2 56.6 56.2 56.1 55.2 54.3 53.6 51.4 General government gross debt% of GDP+60%38.7 40.5 42.5 39.7 39.1 33.7 35.8 46.2 43.4 38.1 Unemployment rate3 year average+10%13.5 12.0 10.5 9.2 8.0 7.1 6.5 7.0 7.3 7.2 Total financial sector liabilities, non-consolidated1 year % change+16.5%-1.3 16.7 7.1 15.8 13.9 8.2 6.2 32.6 22.6 1.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.2 2.3 2.3 3.1 2.2 3.2 2.5 2.6 0.9 0.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp-2.3 -3.2 -2.7 -2.1 -2.1 -1.9 -1.1 -0.2 0.6 0.4 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp-13.8 -13.3 -10.4 -7.4 -6.0 -5.2 -2.6 6.3 3.2 0.0 LithuaniaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold.1) For the employment indicators, see page 2 of the AMR 2016. Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.18: The MIP scoreboard for Luxembourg 

110 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%5.3 5.1 4.9 4.8 4.6 5.2 6.6 8.0 8.5 8.0 Net international investment position% of GDP-35%61.5 67.3 68.2 63.6 97.7 72.5 66.2 42.4 42.6 47.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)0.8 0.5 -0.7 -1.5 -1.0 3.3 2.0 1.5 0.7 -0.5 Export market share - % of world exports5 year % change-6%7.0 9.0 17.6 25.5 23.4 11.6 9.9 21.7 16.7 -0.8 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)9.9 5.8 5.6 2.6 6.0 9.9 13.9 12.4 7.4 13.2 House price index, deflated 1 year % change+6%3.4 3.7 4.5 5.2 3.3 5.1 8.7 12.7 12.5 4.0 Private sector credit flow, consolidated% of GDP+14%26.4 28.1 21.3 2.1 -5.3 7.3 -0.1 45.7 64.1 -19.5pPrivate sector debt, consolidated% of GDP+133%296.8 313.2 322.7 303.7 289.4 289.2 298.4 327.8 343.9 325.5pGeneral government gross debt% of GDP+60%22.4 21.9 21.1 19.6 21.8 20.9 22.4 24.6 24.5 24.7 Unemployment rate3 year average+10%5.3 5.6 6.2b6.3b6.2b5.8 5.6 6.0 5.9 5.6 Total financial sector liabilities, non-consolidated1 year % change+16.5%10.1 39.0 17.2 5.0 0.3 -1.3 3.7 -2.2 13.1 -4.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.7 2.9 1.5b0.1 -0.6 0.2b2.0 2.0 2.1 1.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp0.5 0.2 0.3b0.4 0.5 -0.5 -0.9 -0.4 0.4 0.0 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp1.3 5.8 -1.5b3.4 -7.2 -3.1 -1.9 7.8 2.7 0.6 Employment indicators¹1) For the employment indicators, see page 2 of the AMR 2016.  2) International investment position has been revised downwards from 2013 to 2015 following the revised treatment of euro banknotes in national Balance of payments/International investment position statistics.  3) Private Sector Credit flow: 2022 data for Luxembourg are preliminary estimates until the final structural business statistics survey for 2022 becomes available.  4) 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)Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. p:Provisional. LuxembourgExternal imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.19: The MIP scoreboard for Hungary 

111 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%1.9 2.1 2.3 2.7 2.9 2.2 0.4 -0.6 -2.0 -4.5 Net international investment position% of GDP-35%-82.0 -80.1 -67.5 -59.1 -54.4 -50.7 -49.6 -52.1 -52.2 -50.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-3.8 -6.8 -7.2 -5.2 0.1 2.0 0.4 -4.9 -4.1 -8.1 Export market share - % of world exports5 year % change-6%-23.0 -17.0 -9.5 -2.3 10.1 8.1 4.8 7.1 -2.7 -3.5 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)7.3 6.1 1.3 5.6 9.3 12.3 11.5 13.7 13.3 23.1pHouse price index, deflated 1 year % change+6%-4.2 2.8 12.5 12.3 8.6 10.7 11.8 1.5 9.6 5.1pPrivate sector credit flow, consolidated% of GDP+14%-0.9 -0.2 -2.5 -3.2 0.6 4.3 4.1 8.2 12.9 9.2pPrivate sector debt, consolidated% of GDP+133%95.6 91.4 83.8 76.8 69.9 68.7 67.4 77.0 80.9 78.8pGeneral government gross debt% of GDP+60%77.2 76.5 75.8 74.9 72.1 69.1 65.3 79.3 76.7 73.9 Unemployment rate3 year average+10%10.4 9.3 8.0 6.4 5.2 4.2 3.6 3.7 3.8 3.9 Total financial sector liabilities, non-consolidated1 year % change+16.5%-1.2 8.7 0.4 19.5 -7.1 -9.1 36.8 55.0 16.5 8.6 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.7 4.3 4.8 5.4 4.3 3.6 2.6 2.0 2.1 2.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp-0.5 -1.5 -1.8 -2.5 -2.0 -1.6 -1.2 -0.5 -0.1 0.1 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp0.2 -5.3 -10.7 -13.4 -9.6 -7.2 -1.5 2.0 3.6 -0.6 HungaryExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016.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 Malta 

112 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-0.8 1.8 2.8 2.6 2.7 3.9 7.1 5.9 4.1 0.1 Net international investment position% of GDP-35%25.9 41.8 36.1 47.8 56.6 55.2 52.8 59.4 97.0 78.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-1.2 0.1 -2.8 -2.9 -2.4 4.5 1.6 1.9 -1.2 -3.1 Export market share - % of world exports5 year % change-6%-0.9 -12.6 8.9 17.6 24.0 18.8 33.5 30.6 13.4 2.7 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)9.3 2.3 0.9 6.3 6.6 12.5 8.0 20.3 8.4 8.6 House price index, deflated 1 year % change+6%-1.6 2.0 4.1 4.5 4.2 4.8 4.2 2.2 3.8 1.2pPrivate sector credit flow, consolidated% of GDP+14%2.9 6.6 7.1 10.7 6.0 6.1 13.7 5.8 8.8 6.4 Private sector debt, consolidated% of GDP+133%147.3 140.2 131.2 134.2 124.3 120.6 129.3 142.7 132.7 121.8 General government gross debt% of GDP+60%66.4 62.1 56.2 54.7 47.8 43.4 40.0 52.2 54.0 52.3 Unemployment rate3 year average+10%6.2 6.0 5.7 5.3 4.7 4.1 3.8 3.9 3.8 3.6 Total financial sector liabilities, non-consolidated1 year % change+16.5%0.0 6.0 3.6 3.7 7.4 2.2 64.4 4.9 11.1 5.9 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp5.9 6.0 4.9 4.3 4.4 5.9 5.3 4.9 3.5 4.1 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp-0.6 -1.0 -1.1 -1.1 -0.9 -0.9 -1.5 -0.9 -0.9 0.1 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp-0.5 -1.6 -2.2 -2.0 -1.1 -2.5 -1.4 0.3 0.3 -1.0 Employment indicators¹MaltaFigures highlighted are the ones at or beyond the threshold. Flags:p:Provisional. 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)External imbalances and competitivenessInternal imbalances 
 
 
 
 
 
 
 
 
Table 4.21: The MIP scoreboard for Netherlands 

113 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%9.5 9.5 7.8 6.9 7.1 8.5 8.4 7.1 8.1 8.8 Net international investment position% of GDP-35%30.7 48.0 50.0 62.6 61.5 73.1 89.6 113.0 93.3 75.2 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)0.5 0.7 -0.9 -2.3 -1.7 3.3 2.4 3.7 2.3 3.2 Export market share - % of world exports5 year % change-6%-11.6 -11.5 -6.9 -3.2 1.2 1.4 -0.5 6.5 3.2 -0.1 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)4.8 3.7 -0.4 -0.3 0.1 3.7 6.0 14.1 9.3p9.8pHouse price index, deflated 1 year % change+6%-7.9 -0.1 3.4 4.4 6.1 7.1 4.6 6.2 11.6 6.1 Private sector credit flow, consolidated% of GDP+14%9.7 4.2 0.0 3.6 3.5 5.2 -0.3 -0.7 9.6 6.9pPrivate sector debt, consolidated% of GDP+133%256.6 266.0 261.5 257.8 247.6 241.3 229.9 233.1 223.7 210.1pGeneral government gross debt% of GDP+60%67.7 67.9 64.7 61.9 57.0 52.4 48.6 54.7 51.7 50.1 Unemployment rate3 year average+10%7.0 7.8 8.2 7.8 6.9 5.9 5.1 4.7 4.5 4.2 Total financial sector liabilities, non-consolidated1 year % change+16.5%-1.6 8.0 4.0 7.4 0.5 -2.8 8.0 1.4 0.2 -3.7pActivity rate - % of total population aged 15-643 year change in pp-0.2 pp1.5 0.9 0.6 0.3 0.7 0.6 1.2 1.2 1.0 1.3 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp1.2 1.3 1.0 0.0 -1.0 -1.5 -1.4 -1.0 -0.4 -0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp1.8 2.4 -0.4 -2.1 -3.4 -3.6 -3.6 0.2 0.4 -0.9 Internal imbalancesNetherlandsExternal imbalances and competitivenessEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:p:Provisional. 1) For the employment indicators, see page 2 of the AMR 2016.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 Austria 

114 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%1.7 2.0 2.0 2.3 1.9 1.7 1.6 2.2 2.5 1.6 Net international investment position% of GDP-35%1.3 3.4 2.2 4.1 4.3 6.0 14.4 12.3 15.6 17.6 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)0.7 1.9 1.3 0.9 0.2 4.8 2.1 3.1 1.2 0.1 Export market share - % of world exports5 year % change-6%-18.6 -15.9 -9.3 -3.1 2.1 2.6 1.0 4.9 -3.8 -4.7 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)6.4 7.9 6.4 5.5 4.3 5.0 5.7 12.2 10.6 10.7 House price index, deflated 1 year % change+6%3.0 1.4 3.4 7.0 3.4 2.6 4.0 6.4 10.1 3.7 Private sector credit flow, consolidated% of GDP+14%1.0 0.9 2.1 3.3 3.6 4.8 5.0 4.4 7.6 5.0 Private sector debt, consolidated% of GDP+133%127.1 124.8 124.0 123.3 122.3 122.9 121.5 130.6 130.7 121.9 General government gross debt% of GDP+60%81.3 84.0 84.9 82.8 78.5 74.1 70.6 83.0 82.5 78.4 Unemployment rate3 year average+10%5.3 5.6 5.9 6.2 6.2 5.9 5.3 5.3 5.7 5.7 Total financial sector liabilities, non-consolidated1 year % change+16.5%-3.2 -0.8 -0.1 -3.5 4.4 -1.0 3.5 11.8 8.2 -3.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.1 0.9 0.4 0.8 1.1 1.3 0.7 -0.4 0.1 0.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp0.1 0.4 0.5 0.8 0.4 -0.3 -1.0 -0.6 0.3 -0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp0.2 1.5 1.3 1.7 -0.5 -1.3 -2.9 1.2 1.0 0.4 Internal 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)AustriaExternal imbalances and competitivenessFigures highlighted are the ones at or beyond the threshold. 
 
 
 
 
 
 
 
 
Table 4.23: The MIP scoreboard for Poland 

115 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-3.7 -3.0 -2.0 -1.7 -1.1 -1.4 -1.1 0.1 0.3 -0.4 Net international investment position% of GDP-35%-68.8 -68.8 -60.6 -59.7 -60.3 -54.7 -48.8 -43.9 -39.8 -33.4 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-4.3 -1.0 -1.4 -5.1 -3.5 0.1 2.7 1.1 -0.4 -0.2 Export market share - % of world exports5 year % change-6%-2.6 1.1 5.1 13.6 23.4 22.1 21.7 33.3 23.7 16.6 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)3.5 2.6 0.4 2.4 4.0 6.6 8.0 14.0 12.1 16.9pHouse price index, deflated 1 year % change+6%-4.7 1.3 1.9 2.7 2.0 5.0 6.4 6.7 3.5 -1.9 Private sector credit flow, consolidated% of GDP+14%3.2 4.9 3.6 4.9 3.1 3.8 3.6 1.8 3.8 1.9 Private sector debt, consolidated% of GDP+133%76.5 79.0 79.1 82.3 77.3 76.7 74.2 76.1 71.3 63.5 General government gross debt% of GDP+60%57.1 51.4 51.3 54.5 50.8 48.7 45.7 57.2 53.6 49.3 Unemployment rate3 year average+10%10.3 10.1 9.2 7.7 6.3 5.1 4.1 3.5 3.3 3.2 Total financial sector liabilities, non-consolidated1 year % change+16.5%6.0 1.7 2.9 9.2 4.7 3.2 4.2 11.6 12.3 3.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.0b2.5 2.0 2.4 2.3 2.6 2.1 1.4 3.4 3.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp1.4 0.2 -1.2 -2.3 -2.4 -2.0 -1.5 -0.9 -0.1 0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp3.6 -1.9 -5.8 -9.8 -9.2 -9.2 -7.9 -4.0 0.1 0.9 PolandExternal 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.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 4.24: The MIP scoreboard for Portugal 

116 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average -4%/+6%-2.0 0.1 0.7 0.5 0.9 1.0 0.8 0.0 -0.5 -1.0 Net international investment position% of GDP-35%-120.2 -123.8 -118.9 -110.5 -110.4 -106.4 -100.0 -104.6 -94.4 -83.6 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.6 -1.8 -3.1 -1.8 -0.8 3.3 -0.3 -0.1 -2.8 -2.9 Export market share - % of world exports5 year % change-6%-8.3 -7.5 0.7 5.0 13.8 8.4 8.1 -1.8 -6.0 -1.9 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)-3.8 -2.9 0.2 -0.5 2.8 6.3 8.5 15.6 13.3 10.7pHouse price index, deflated 1 year % change+6%-2.6 4.0 2.2 6.1 7.6 8.6 9.0 8.1 7.3 4.8 Private sector credit flow, consolidated% of GDP+14%-2.3 -6.8 -1.4 -1.8 2.9 0.8 2.6 4.4 4.5 2.9pPrivate sector debt, consolidated% of GDP+133%201.6 190.1 179.3 169.3 163.0 155.1 149.5 163.7 156.6 141.1pGeneral government gross debt% of GDP+60%131.4 132.9 131.2 131.5 126.1 121.5 116.6 134.9 124.5 112.4 Unemployment rate3 year average+10%15.8 16.1 14.9 13.0 11.2 9.3 7.7 7.0 6.8 6.5 Total financial sector liabilities, non-consolidated1 year % change+16.5%-5.2 -7.3 -1.4 -0.4 1.3 0.4 -0.2 6.6 7.6 -4.0 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.3 0.1 1.0 1.5 2.0 2.2 2.2 0.0 0.7 1.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp3.4 2.2 -0.6 -3.3 -4.1 -4.3 -3.6 -2.3 -0.3 -0.1 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp10.3 4.5 -6.1 -10.3 -10.9 -11.7 -9.7 -1.4 3.1 0.7 Figures highlighted are the ones at or beyond the threshold. Flags:p:Provisional. 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)Internal imbalancesPortugalExternal imbalances and competitivenessEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 4.25: The MIP scoreboard for Romania 

117 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-3.5 -2.0 -0.7 -0.9 -1.8 -3.1 -4.2 -4.8 -5.7 -7.1 Net international investment position% of GDP-35%-63.6 -57.0 -54.7 -50.0 -47.8 -43.4 -43.4 -47.6 -47.0 -40.6 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)0.5 -1.0 2.7 -2.6 -5.5 -0.7 0.2 3.4 1.0 2.6 Export market share - % of world exports5 year % change-6%13.9 20.9 21.2 24.5 37.8 23.3 17.1 19.5 9.6 6.7 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)0.9 9.4 3.9 11.3 17.6 28.7 24.0 20.7 14.7p10.4pHouse price index, deflated 1 year % change+6%-1.7 -3.2 1.7 5.2 3.3 1.7 -1.9 2.3 -0.2 -6.2 Private sector credit flow, consolidated% of GDP+14%-1.5 -2.3 0.2 0.6 1.7 1.9 2.0 1.3 3.8 3.3pPrivate sector debt, consolidated% of GDP+133%67.2 62.0 58.0 54.6 51.3 47.1 46.5 48.0 47.8 43.3pGeneral government gross debt% of GDP+60%37.8 39.2 37.8 37.9 35.3 34.5 35.1 46.8 48.5 47.2 Unemployment rate3 year average+10%8.9 8.8 8.7 8.1 7.2 6.2 5.4 5.4 5.5 5.8 Total financial sector liabilities, non-consolidated1 year % change+16.5%0.8 1.2 4.1 7.0 8.2 3.4 10.3 13.4 14.3 8.2 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.5 1.7 2.3 2.3 3.0 2.5 3.1 2.3 3.2 3.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp0.9 -0.2 -0.1 -0.5 -1.0 -1.4 -1.4 -0.6 -0.2 0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp1.6 0.6 -0.9 -3.7 -7.0 -6.8 -4.9 -1.4 0.5 1.8 RomaniaExternal imbalances and competitivenessEmployment indicators¹Internal imbalancesFigures highlighted are the ones at or beyond the threshold. Flags:p:Provisional. 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) 
 
 
 
 
 
 
 
 
Table 4.26: The MIP scoreboard for Slovenia 

118 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%1.3 3.2 4.1 4.6 4.9 5.6 6.0 6.3 5.5 3.2 Net international investment position% of GDP-35%-39.3 -38.4 -31.2 -28.8 -24.2 -19.0 -16.3 -15.7 -7.7 -1.5 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)-0.6 1.2 0.3 -0.6 -1.9 2.0 1.0 1.7 -0.4 -1.3 Export market share - % of world exports5 year % change-6%-18.5 -13.2 -5.0 3.2 17.7 19.3 15.5 19.3 10.6 2.9 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)0.1 0.1 -0.1 1.3 3.6 5.7 7.9 14.3 12.7 14.3 House price index, deflated 1 year % change+6%-7.2 -6.2 1.4 3.6 6.6 6.6 5.3 5.2 7.9 4.3 Private sector credit flow, consolidated% of GDP+14%-3.7 -4.7 -5.0 -0.8 0.9 1.3 0.8 -0.9 3.5 5.2 Private sector debt, consolidated% of GDP+133%107.2 97.9 87.4 81.0 76.1 72.5 68.5 69.5 66.2 66.0 General government gross debt% of GDP+60%70.0 80.3 82.6 78.5 74.2 70.3 65.4 79.6 74.4 72.3 Unemployment rate3 year average+10%9.1 9.6 9.6 8.9 7.9 6.6 5.4 4.8 4.7 4.6 Total financial sector liabilities, non-consolidated1 year % change+16.5%-10.1 -0.1 -3.8 3.4 5.3 4.1 9.9 14.0 14.1 -1.4 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp-0.8 0.7 1.4 1.1 3.2 3.2 3.5 0.2 0.6 1.6 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp2.0 1.6 0.4 -0.9 -2.2 -2.5 -2.4 -1.2 -0.3 -0.3 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp6.9 4.6 -4.4 -6.3 -9.2 -7.5 -7.2 3.0 3.9 2.0 External imbalances and competitivenessInternal imbalancesSloveniaEmployment indicators¹Figures 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) 
 
 
 
 
 
 
 
 
Table 4.27: The MIP scoreboard for Slovakia 

119 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-0.7 1.3 0.3 -1.2 -2.2 -2.3 -2.5 -1.7 -2.2 -3.6 Net international investment position% of GDP-35%-62.0 -63.4 -63.6 -66.6 -68.2 -69.4 -65.6 -64.7 -60.5 -61.0 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)2.1 1.2 -1.2 -1.6 -1.9 2.5 2.5 5.2 3.1 3.8 Export market share - % of world exports5 year % change-6%-4.3 1.7 3.9 7.1 4.8 1.9 1.1 7.2 -1.9 -6.6 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)3.4 3.0 2.5 4.0 7.8 11.3 14.2 15.4 12.6 13.3 House price index, deflated 1 year % change+6%-0.4 1.5 5.5 7.0 4.4 4.9 6.2 7.2 3.0 1.3 Private sector credit flow, consolidated% of GDP+14%4.9 5.0 5.0 9.2 5.0 6.2 4.5 2.6 4.5 9.3 Private sector debt, consolidated% of GDP+133%75.0 78.8 80.2 87.9 89.8 90.5 91.8 94.8 92.6 92.7 General government gross debt% of GDP+60%54.7 53.5 51.7 52.3 51.5 49.4 48.0 58.9 61.1 57.8 Unemployment rate3 year average+10%13.8b13.7 12.9 11.4 9.7 8.1 6.8 6.3 6.4 6.5 Total financial sector liabilities, non-consolidated1 year % change+16.5%1.4 9.4 10.4 8.6 16.6 9.6 6.4 9.6 23.7 -9.3 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp1.3 1.6b1.6 2.1 1.9 1.5 0.8 0.4 0.2 1.4 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp0.9 0.0 -2.1 -4.8 -4.8 -4.1 -2.9 -2.2 -0.8 0.2 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp0.0 -3.8 -7.6 -11.5 -11.0 -11.9 -6.3 0.4 4.8 2.8 SlovakiaExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. 1) For the employment indicators, see page 2 of the AMR 2016.Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Table 4.28: The MIP scoreboard for Finland 

120 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%-1.8 -1.7 -1.4 -1.4 -1.2 -1.5 -1.0 -0.5 0.2 -0.5 Net international investment position% of GDP-35%3.0 -3.1 4.8 5.5 1.2 -5.6 4.0 -4.0 1.0 -1.7 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)0.2 2.7 2.1 0.4 -2.6 2.9 0.1 2.3 -0.7 -3.1 Export market share - % of world exports5 year % change-6%-32.6 -27.4 -23.2 -16.0 -5.4 -4.3 2.9 10.9 3.8 -2.0 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)9.3 7.6 3.3 0.3 -3.7 -2.0 1.3 5.5 6.2 8.6 House price index, deflated 1 year % change+6%-1.3 -1.6 -0.5b1.1 0.1 -0.4 -0.6 1.4 2.8 -4.6 Private sector credit flow, consolidated% of GDP+14%3.0 1.7 6.9 1.3 8.3 4.3 6.6 6.5 6.1 2.3 Private sector debt, consolidated% of GDP+133%147.0 148.8 152.1 148.1 147.7 143.9 146.1 152.7 150.5 144.7 General government gross debt% of GDP+60%60.6 64.5 68.3 68.0 66.0 64.8 64.9 74.7 72.5 73.3 Unemployment rate3 year average+10%8.1 8.3 8.8 9.0 9.0 8.4 7.7 7.3 7.4 7.4 Total financial sector liabilities, non-consolidated1 year % change+16.5%-11.5 9.4 1.4 3.8 -4.1 20.1 7.8 8.0 9.1 1.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp0.9 0.6 0.4 0.6 1.2 2.2 2.3 1.5 1.8 2.5 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp-0.4 0.2 0.8 0.8 0.2 -0.9 -1.4 -1.1 -0.2 0.0 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp-1.4 0.2 3.0 -0.1 -0.5 -5.2 -2.8 1.0 -0.2 -3.5 Internal imbalancesFinlandExternal imbalances and competitivenessEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. 1) For the employment indicators, see page 2 of the AMR 2016. 2) House price index, 2015: 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 4.29: The MIP scoreboard for Sweden 

121 

Thresholds2013201420152016201720182019202020212022Current account balance, % of GDP 3 year average  -4%/+6%5.4 5.0 4.2 3.2 2.7 2.5 3.5 4.6 6.0 5.8 Net international investment position% of GDP-35%-15.9 -3.4 -5.0 -1.6 -0.8 8.2 13.3 6.9 20.7 34.8 Real effective exchange rate - 42 trading partners, HICP deflator3 year % change±5% (EA) ±11% (Non-EA)5.1 -3.7 -8.3 -9.2 -5.5 -4.0 -8.3 -4.8 2.1 -1.4 Export market share - % of world exports5 year % change-6%-16.9 -10.1 -10.5 -9.5 -5.8 -6.9 -3.2 2.8 0.9 -2.7 Nominal unit labour cost index3 year % change9% (EA) 12% (Non-EA)8.7 7.4 2.5 3.0 4.0 8.1 7.2 8.7 4.6 5.8 House price index, deflated 1 year % change+6%4.5 8.3 12.0 7.3 4.8 -3.3 0.4 3.3 8.1 -3.1 Private sector credit flow, consolidated% of GDP+14%4.5 5.6 8.7 12.4 13.6 9.2 9.7 14.5 17.1 10.6 Private sector debt, consolidated% of GDP+133%193.8 193.8 192.5 195.0 201.1 197.0 199.7 212.7 214.5 207.3 General government gross debt% of GDP+60%40.3 45.0 43.7 42.2 41.4 39.6 35.6 39.9 36.5 32.9 Unemployment rate3 year average+10%8.1 8.1 8.0 7.6 7.2 6.8b6.8b7.3b8.1 8.3 Total financial sector liabilities, non-consolidated1 year % change+16.5%9.8 13.2 1.7 8.6 6.9 -1.8 11.8 10.4 11.2 3.7 Activity rate - % of total population aged 15-643 year change in pp-0.2 pp2.1 1.6 1.5 1.0 1.0 0.9b0.8 0.0 0.6b1.0 Long-term unemployment rate - % of active population aged 15-743 year change in pp+0.5 pp-0.2 0.0 0.0 -0.3 -0.3 -0.6b-0.5 -0.2 0.3 0.4 Youth unemployment rate - % of active population aged 15-243 year change in pp+2 pp-1.2 0.2 -3.3 -4.6 -5.1 -2.9b1.1 6.3 7.9 2.3 SwedenExternal imbalances and competitivenessInternal imbalancesEmployment indicators¹Figures highlighted are the ones at or beyond the threshold. Flags:b:Break in series. 1) For the employment indicators, see page 2 of the AMR 2016. 2) Labour Force Survey indicators, 2018: b = following the detection of quality deficiencies in 2018, only half of the sample used.Source: European Commission, Eurostat and Directorate General for Economic and Financial Affairs (for Real Effective Exchange Rate), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
Chapter 5: Tables by Member State and Aggregates - Auxiliary indicators used in the economic reading of the MIP 
scoreboard   
Table 5.1: Auxiliary indicators for European Union 

122 

    European Union2013201420152016201720182019202020212022Real GDP (1 year % change) -0.1 1.6 2.3 2.0 2.8 2.1 1.8 -5.6 6.0 3.4 Gross fixed capital formation (% of GDP)19.8 19.8 20.2 20.4 20.8 21.2 22.2 22.1 22.0 22.5 Gross domestic expenditure on R&D (% of GDP)2.1e2.1e2.1 2.1e2.2 2.2e2.2e2.3e2.3enaCurrent plus capital account (net lending-borrowing)(% of GDP)2.4 2.3 2.7 3.1 2.8 2.3 2.1 2.0 2.8 0.2 Net international investment position excluding non-defaultable instruments (% of GDP) -36.4e-38.1e-36.9e-34.0e-28.0e-26.2e-24.4e-25.7e-26.0e-20.5eDirect investment liabilities - flows (% of GDP)5.1 1.6 7.6 3.1 2.1 -2.9 0.3 1.3 0.0 -1.8 Direct investment liabilities - stocks   (% of GDP)na61.2 72.2 74.8 72.6 68.6 68.8 71.0 69.8 64.5 Net trade balance of energy products (% of GDP)-3.1 -2.7 -1.9 -1.4 -1.7 -2.1 -1.9 -1.2 -2.0 -4.1 Real effective exchange rate - euro area trading partners(3 year % change)nanananananananananaExport performance against advanced economies (5 year % change)-4.2 -2.3 3.0 3.3 5.6 3.4 2.3 5.9 2.8 -2.6 Terms of trade (5 year % change)-0.6 -2.5 1.4 4.5 4.2 2.6 2.2 1.7 -1.1 -4.3 Export market share in volume (1 year % change)-1.5 1.2 3.4 1.2 0.3 -0.1 2.1 -1.0 0.3 2.5 Labour productivity (1 year % change)0.3 0.7 1.3 0.7 1.2 0.6 0.7 -4.3 4.5 1.4 Gross non-performing loans of domestic and foreign entities  (% of gross loans)na6.7e6.8e5.2e4.0e3.1e2.6e2.5e2.0e1.8pUnit labour cost performance relative to EA (10 year % change)nanananananananananaHouse price index - nominal (3 year % change)-3.4 -3.3 1.0 7.3 11.7 14.7 15.2 16.1 19.9 23.2 Residential construction (% of GDP)4.8 4.7 4.6 4.8 5.0 5.1 5.2 5.4 5.8 5.9 Household debt, consolidated (incl. NPISH, % of GDP)60.9 59.6 58.4 57.7b56.9 56.5 56.5 60.5 58.1 54.8pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)na16.9e15.6e15.2e14.0e14.1e14.2e14.7e14.6e14.6pFlags:b:Break in series. e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
 
 
 
 
Table 5.1 (continued): Auxiliary indicators for European Union 

123 

20132014201520162017201820192020202120221 year % change-0.4 0.9 0.9 1.3 1.6 1.5 1.1 -1.3 1.5 2.0 %70.8 71.2 71.5 71.9 72.4 72.8 73.2 72.4 73.6 74.5 %5.4 5.4 4.9 4.3 3.7 3.1 2.7 2.5 2.8 2.4 %25.2 24.1 22.4 20.7 18.5 16.7 15.6 17.6 16.7 14.5 %13.4 13.0 12.7 12.1 11.4 10.9 10.5 11.4 10.8 9.6 3 year change in pp0.6 0.1 -0.5 -1.3 -1.6 -1.8 -1.6 0.0 -0.1 -0.9 %nana24.0 23.7 22.4 21.7 21.1 21.6b21.7 21.6 3 year change in ppnanananana-2.3 -2.6 -0.8b0.0 0.5 %16.8 17.3 17.4 17.5 16.9 16.8 16.5 16.7b16.8 16.5 3 year change in pp0.3e0.4e0.5e0.7 -0.4 -0.6 -1.0 -0.2b0.0 0.0 %nana9.7 9.0 7.8 7.1 6.7 6.8 6.3 6.7 3 year change in ppnanananana-2.6 -2.3 -1.0 -0.8 0.0 %nana10.1 10.0 9.1 8.5 8.0 8.3 9.0 8.3 3 year change in ppnanananana-1.6 -2.0 -0.8 0.5 0.3 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. e:Estimated. Source: European Commission, EurostatEuropean UnionEmploymentActivity 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
Table 5.2: Auxiliary indicators for euro area 

124 

    euro area2013201420152016201720182019202020212022Real GDP (1 year % change) -0.2 1.4 2.0 1.9 2.6 1.8 1.6 -6.1 5.9 3.4 Gross fixed capital formation (% of GDP)19.5 19.5 19.9 20.3 20.6 21.0 22.2 22.0 21.9 22.4 Gross domestic expenditure on R&D (% of GDP)2.1e2.1e2.1 2.1e2.2 2.2e2.3 2.3e2.3 naCurrent plus capital account (net lending-borrowing)(% of GDP)2.2 2.4 2.9 3.0 2.9 2.5 2.2 1.8 3.2 0.6 Net international investment position excluding non-defaultable instruments (% of GDP) -35.6 -37.9 -37.2 -34.5 -31.9 -30.2 -28.6 -31.0 -32.0 -25.8 Direct investment liabilities - flows (% of GDP)6.1 2.0 8.0 2.8 2.5 -3.6 -0.4 1.2 -0.4 -2.3 Direct investment liabilities - stocks   (% of GDP)63.3 70.9 83.4 86.2 82.9 78.7 79.4 82.2 80.3 74.5 Net trade balance of energy products (% of GDP)-3.2 -2.7 -1.9 -1.5 -1.7 -2.1 -1.9 -1.2 -2.0 -4.4 Real effective exchange rate - euro area trading partners(3 year % change)nanananananananananaExport performance against advanced economies (5 year % change)nanananana4.3 2.2 4.2 1.6 -3.9 Terms of trade (5 year % change)-0.8 -2.9 1.3 4.7 4.3 2.7 2.4 1.5 -1.6 -5.0 Export market share in volume (1 year % change)-1.7 1.0 3.6 0.8 0.1 -0.2 1.9 -1.6 0.6 2.3 Labour productivity (1 year % change)0.3 0.6 1.1 0.5 1.0 0.1 0.2 -4.7 4.4 1.1 Gross non-performing loans of domestic and foreign entities  (% of gross loans)na8.1e7.2e6.3e4.7e3.6e3.1e2.5e2.0e1.8pUnit labour cost performance relative to EA (10 year % change)nanananananananananaHouse price index - nominal (3 year % change)-3.1 -3.9 -0.3 5.8 10.2 13.7 14.1 15.0 18.5 21.6 Residential construction (% of GDP)5.0 5.0 4.8 5.0 5.2 5.4 5.5 5.7 6.1 6.3 Household debt, consolidated (incl. NPISH, % of GDP)60.8 59.4 58.0 57.4 56.8 56.5 56.6 60.8 58.6 56.1pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)na16.6e15.6e15.2e13.7e13.8e13.7e14.8e14.7e14.7pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.2 (continued): Auxiliary indicators for euro area 

125 

20132014201520162017201820192020202120221 year % change-0.5 0.8 0.9 1.4 1.6 1.6 1.3 -1.4 1.4 2.3 %71.9 72.2 72.4 72.7 73.0 73.3 73.6 72.5 73.6 74.5 %5.8 5.9 5.4 4.8 4.2 3.6 3.1 2.8 3.2 2.7 %25.2 24.5 23.1 21.5 19.4 17.5 16.3 18.1 16.9 14.6 %13.2 13.0 12.6 12.1 11.5 11.0 10.5 11.6 10.7 9.5 3 year change in pp0.5 0.3 -0.4 -1.1 -1.5 -1.6 -1.6 0.1 -0.3 -1.0 %nana23.0 22.8 21.8 21.4 20.7 21.6 22.0 21.8 3 year change in ppnanananana-1.6 -2.1 -0.2 0.6 1.1 %na17.2 17.3 17.4 17.1 17.0 16.4 16.8 17.0 16.8 3 year change in ppnananana-0.1 -0.3 -1.0 -0.3 0.0 0.4 %nana7.9 7.4 6.3 6.1 5.8 6.1 5.7 6.1 3 year change in ppnanananana-1.8 -1.6 -0.2 -0.4 0.3 %nana10.9 10.8 9.9 9.1 8.7 9.1 10.0 9.1 3 year change in ppnanananana-1.8 -2.1 -0.8 0.9 0.4 euro areaEmploymentActivity 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 or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSeverely materially and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 5.3: Auxiliary indicators for Belgium 

126 

Belgium2013201420152016201720182019202020212022Real GDP (1 year % change) 0.5 1.6 2.0 1.3 1.6 1.8 2.2 -5.3 6.9 3.0pGross fixed capital formation (% of GDP)22.2 22.8 23.0 23.3 23.3 23.6 24.3 24.1 23.9 23.9pGross domestic expenditure on R&D (% of GDP)2.3 2.4 2.4 2.5 2.7 2.9 3.2 3.4 3.4 3.4pCurrent plus capital account (net lending-borrowing)(% of GDP)0.9 0.6 1.4 0.7 0.8 -0.8 0.2 1.4 1.5 -0.8 Net international investment position excluding non-defaultable instruments (% of GDP) 58.5 51.8 51.7 52.2 44.7 34.4 36.0 36.6 36.0 28.8 Direct investment liabilities - flows (% of GDP)-5.6 -2.7 -4.3 12.2 -7.2 -7.7 -3.9 -5.4 4.9 2.0 Direct investment liabilities - stocks   (% of GDP)231.9 226.9 225.3 221.9 201.4 187.5 185.6 182.6 168.9 153.6 Net trade balance of energy products (% of GDP)-4.5 -3.8 -2.7 -2.2 -2.5 -3.4 -2.5 -1.7 -3.0 -4.1pReal effective exchange rate - euro area trading partners(3 year % change)0.6 -0.1 0.1 1.9 2.6 2.8 1.1 0.4 0.4 2.1 Export performance against advanced economies (5 year % change)-6.3 -7.1 -11.8 -7.1 -1.3 -3.7 -4.3 9.3 8.2 1.8 Terms of trade (5 year % change)0.2 -2.5 0.3 2.6 2.1 0.9 1.3 1.0 -1.2 -4.3pExport market share in volume (1 year % change)-3.2 1.6 0.6 3.9 0.0 -2.7 1.1 1.2 3.0 0.0pLabour productivity (1 year % change)0.8 1.2 1.2 0.0 0.1 0.3 0.6 -5.3 4.8 0.9pGross non-performing loans of domestic and foreign entities  (% of gross loans)15.7e4.3e3.8e3.2e2.7e2.3e2.1e2.1e1.6e1.5pUnit labour cost performance relative to EA (10 year % change)3.1 3.6 2.2 0.2 1.0 -1.1 -0.2 -0.7 -3.3 -1.5 House price index - nominal (3 year % change)7.6 2.9 2.3 3.8 8.2 9.4 10.9 11.5 16.1 17.9 Residential construction (% of GDP)5.7 5.9 5.7 5.7 5.7 5.9 6.1 6.1 6.2 6.0pHousehold debt, consolidated (incl. NPISH, % of GDP)55.7 57.5 57.9 58.2 58.9 59.2 60.5 65.3 62.1 60.0pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)15.7e15.1e14.7e14.2e13.2e13.1e13.4e14.2e13.8e14.2pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
 
Table 5.3 (continued): Auxiliary indicators for Belgium 

127 

20132014201520162017201820192020202120221 year % change-0.3 0.4 0.9 1.3 1.6 1.5 1.6 0.1 1.9 2.1p%67.6 67.8 67.7 67.7 68.0b68.6 69.1 68.4 69.7 70.5 %3.5 3.9 4.0 3.7 3.1b2.6 2.1 2.1 2.6 2.3 %23.9 23.4 22.5 20.3 19.4b16.0 14.5 15.9 18.2 16.4 %11.8 11.2 11.4 9.2 8.7b8.5 8.6 8.6 7.4b6.6 3 year change in pp1.6 0.1 -0.1 -2.6 -2.5b-2.9 -0.6 -0.1b-1.1b-2.0 %nana21.6 22.2 22.0 20.5 20.0b20.3 18.8 18.7 3 year change in ppnanananana-1.1 -2.2b-1.7 -1.7 -1.3b%15.1 15.5 14.9 15.5 15.9 16.4 14.8b14.1 12.7 13.2 3 year change in pp0.5 0.2 -0.4 0.4 0.4 1.5 -0.7b-1.8 -3.7 -1.6b%nana7.2 8.4 7.2 6.5 6.3 6.7 6.3 5.8 3 year change in ppnanananana-0.7 -2.1 -0.5 -0.2 -0.5 %nana15.0 15.2 14.5 13.1 12.8 12.3 11.9 11.5 3 year change in ppnanananana-1.9 -2.4 -2.2 -1.2 -1.3 People at risk of poverty or social exclusion - % of total populationPeople at risk of poverty after social transfers - % of total populationSeverely materially and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64Flags:b:Break in series. p:Provisional. 1)LabourForceSurveyindicators,2017:b=changeinthesurveymethodology.2)Youngpeopleneitherinemploymentnorineducationandtraining,2021:b=changesinthenationalquestionnaireregardingthevariablesontheparticipationineducationandtraining.3)IncomeandLivingConditions 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 15-24 
 
 
 
 
 
 
 
 
 
 
Table 5.4: Auxiliary indicators for Bulgaria 

128 

Bulgaria2013201420152016201720182019202020212022Real GDP (1 year % change) -0.5 0.9 3.4 3.0 2.7 2.7 4.0 -4.0 7.7 3.9 Gross fixed capital formation (% of GDP)21.2 21.1 20.9 18.4 18.3 18.8 18.6 19.1 16.3 17.1 Gross domestic expenditure on R&D (% of GDP)0.6 0.8 0.9 0.8 0.7 0.8 0.8 0.8 0.8 0.8pCurrent plus capital account (net lending-borrowing)(% of GDP)2.4 3.5 3.1 5.3 4.3 2.0 3.3 1.5 -1.0 -0.5 Net international investment position excluding non-defaultable instruments (% of GDP) 7.3 10.8 21.4 30.1 32.9 36.4 40.2 47.7 47.4 44.4 Direct investment liabilities - flows (% of GDP)3.6 1.9 4.4 2.7 3.3 2.7 3.2 5.1 2.9 3.6 Direct investment liabilities - stocks   (% of GDP)89.2 92.8 92.6 89.4 86.5 84.6 81.2 85.2 78.1 68.4 Net trade balance of energy products (% of GDP)-6.2 -5.6 -3.8 -2.4 -3.0 -3.4 -3.0 -2.0 -3.4 -4.1 Real effective exchange rate - euro area trading partners(3 year % change)-0.4 -3.0 -4.1 -4.8 -3.2 -1.1 1.7 3.0 2.3 4.9 Export performance against advanced economies (5 year % change)7.5 13.2 15.4 7.0 16.6 10.3 12.7 15.7 16.0 19.8 Terms of trade (5 year % change)4.2 3.0 3.6 3.1 5.7 7.5 8.9 12.8 8.1 8.2 Export market share in volume (1 year % change)6.0 -0.5 3.3 6.3 0.2 -2.1 2.7 -2.9 0.3 6.7 Labour productivity (1 year % change)-0.1 0.6 3.0 2.5 0.9 2.8 3.7 -1.7 7.5 4.3 Gross non-performing loans of domestic and foreign entities  (% of gross loans)7.8e16.0e14.5e12.8e10.2e7.7e6.5e5.9e4.8e3.7pUnit labour cost performance relative to EA (10 year % change)53.0 57.5 56.4 56.7 58.4 52.7 47.1 45.9 49.0 63.8 House price index - nominal (3 year % change)-9.3 -2.7 2.0b11.6 19.5 24.0 22.8 18.2 20.5 29.3bResidential construction (% of GDP)1.7 1.6 1.4 2.7 2.8 2.7 2.8 2.9 2.8 2.8 Household debt, consolidated (incl. NPISH, % of GDP)25.5 25.1 23.2 22.6 22.6 23.0 23.0 24.3 23.8 22.5 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)7.8e7.9e7.7e7.7e7.7e7.5e8.2e7.9e8.0e8.8p1) House price index: b = break in time series in 2015 due to full implementation of harmonised EU methodology and in 2022 due to new data source. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:b:Break in series. e:Estimated. p:Provisional.  
 
 
 
 
Table 5.4 (continued): Auxiliary indicators for Bulgaria 

129 

20132014201520162017201820192020202120221 year % change-0.4 0.4 0.4 0.5 1.8 -0.1 0.3 -2.3 0.2 -0.3 %68.2 68.9 69.2 68.6 71.2 71.4 73.1 72.1 72.0 73.6 %7.9 7.4 6.1 5.0 3.9 3.6 2.9 2.7 2.6 2.3 %31.5 26.9 24.7 20.4 16.1 15.9 12.1 17.4 15.8 10.7 %21.3 20.0 19.1 18.0 15.2 15.0 13.6 14.3 14.0 12.5 3 year change in pp0.5b-1.5b-2.1 -3.3 -4.8 -4.1 -4.4 -0.9 -1.0 -1.1 %nana43.3 41.0b38.0 33.0 33.2 33.5 31.7 32.2 3 year change in ppnanananana-10.3 -7.8b-4.5 -1.3 -1.0 %21.0 21.8 22.0 22.9b23.4 22.0 22.6 23.8 22.1 22.9 3 year change in pp0.3 -0.4 0.8 1.9b1.6 0.0 -0.3b0.4 0.1 0.3 %nana36.8 33.5 30.0 22.3 22.1 22.1 19.1 18.7 3 year change in ppnanananana-14.5 -11.4 -7.9 -3.2 -3.4 %nana11.5 11.5 11.1 9.0 9.2 8.4 8.4 8.6 3 year change in ppnanananana-2.5 -2.3 -2.7 -0.6 -0.6 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
 
Table 5.5: Auxiliary indicators for Czech Republic 

130 

Czech Republic2013201420152016201720182019202020212022Real GDP (1 year % change) 0.0 2.3 5.4 2.5 5.2 3.2 3.0 -5.5 3.6 2.4 Gross fixed capital formation (% of GDP)25.4 25.4 26.5 24.9 24.9 26.3 27.1 26.5 26.0 26.8 Gross domestic expenditure on R&D (% of GDP)1.9 2.0 1.9 1.7 1.8 1.9 1.9 2.0 2.0 2.0pCurrent plus capital account (net lending-borrowing)(% of GDP)1.5 0.9 2.6 2.9 2.4 0.7 0.8 3.2 -1.1 -6.0 Net international investment position excluding non-defaultable instruments (% of GDP) 14.8 19.0 20.3 27.6 26.5 27.8 30.2 37.3 36.9 28.4 Direct investment liabilities - flows (% of GDP)3.5 3.9 0.9 5.5 5.2 3.4 4.3 3.4 4.6 3.6 Direct investment liabilities - stocks   (% of GDP)76.6 76.7 75.3 78.0 77.3 78.9 77.1 83.2 82.5 76.7 Net trade balance of energy products (% of GDP)-4.7 -3.9 -2.4 -2.0 -2.5 -2.9 -2.4 -1.5 -2.5 -4.7 Real effective exchange rate - euro area trading partners(3 year % change)-2.4 -10.1 -8.2 -3.8 5.6 7.6 7.5 3.7 4.6 13.7 Export performance against advanced economies (5 year % change)-2.8 0.5 0.1 0.5 5.2 8.3 2.7 8.2 2.5 -4.2 Terms of trade (5 year % change)-1.0 -1.6 0.8 3.4 3.0 1.9 0.9 2.0 0.8 -1.9 Export market share in volume (1 year % change)-3.3 5.1 2.9 2.0 1.7 -0.1 0.2 -0.5 -4.0 2.3 Labour productivity (1 year % change)-0.4 1.7 3.9 0.9 3.6 1.9 2.8 -3.9 3.2 0.8 Gross non-performing loans of domestic and foreign entities  (% of gross loans)10.8e10.0e10.1e4.0e2.8e2.1e1.7e1.9e1.7e1.4pUnit labour cost performance relative to EA (10 year % change)1.3 -0.9 -0.9 0.6 1.4 4.8 9.5 10.9 12.4 12.8 House price index - nominal (3 year % change)-1.4 0.9 6.5 14.2 24.4 30.0 32.4 28.6 41.7 51.7 Residential construction (% of GDP)3.8 3.8 3.8 3.8 4.2 4.3 4.4 4.6 4.7 4.3 Household debt, consolidated (incl. NPISH, % of GDP)31.4 30.2 30.2 31.1 31.5 31.8 31.5 33.9 34.4 32.6 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)10.8e10.0e10.1e10.7e12.4e12.5e12.1e12.1e12.3e13.0pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.5 (continued): Auxiliary indicators for Czech Republic 

131 

20132014201520162017201820192020202120221 year % change0.3 0.6 1.4 1.6 1.5 1.3 0.2 -1.7 0.4 1.5 %72.9 73.5 74.0 75.0 75.9 76.6 76.7 76.4 76.6 77.2 %3.0 2.7 2.4 1.7 1.0 0.7 0.6 0.6 0.8 0.6 %19.0 15.9 12.6 10.5 7.9 6.7 5.6 8.0 8.2 6.8 %9.1 8.1 7.5 7.0 6.3 5.6 5.7 6.6 6.5 8.0 3 year change in pp0.3 -0.2b-1.4 -2.1 -1.8 -1.9 -1.3 0.3 0.9 2.3 %nana13.0 12.4 12.1 11.8 12.1 11.5 10.7 11.8 3 year change in ppnanananana-1.2 -0.3 -0.6 -1.1 -0.3 %8.6 9.7 9.7 9.7 9.1 9.6 10.1 9.5 8.6 10.2 3 year change in pp-0.4 -0.1 0.1 1.1 -0.6 -0.1 0.4 0.4 -1.0 0.1 %nana4.5 3.5 3.4 2.4 2.1 1.9 1.8 2.1 3 year change in ppnanananana-2.1 -1.4 -1.5 -0.6 0.0 %nana6.8 6.7 5.7 4.5 4.4 4.4 5.4 4.5 3 year change in ppnanananana-2.3 -2.3 -1.3 0.9 0.1 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
 
Table 5.6: Auxiliary indicators for Denmark 

132 

Denmark2013201420152016201720182019202020212022Real GDP (1 year % change) 0.9 1.6 2.3 3.2 2.8 2.0 1.5 -2.4 6.8 2.7 Gross fixed capital formation (% of GDP)19.1 19.2 19.9 21.0 21.2 21.7 21.2 22.2 22.1 21.7 Gross domestic expenditure on R&D (% of GDP)3.0 2.9 3.1 3.1 2.9 3.0 2.9p3.0 2.8pnaCurrent plus capital account (net lending-borrowing)(% of GDP)7.7 8.7 7.9 7.8 8.1 7.3 8.5 8.1 9.2 13.5 Net international investment position excluding non-defaultable instruments (% of GDP) -3.6 11.4 9.6 15.5 18.6 15.9 29.0 32.4 30.9 34.9 Direct investment liabilities - flows (% of GDP)0.2 2.0 0.6 2.5 1.0 2.5 -1.0 -0.1 4.3 8.6 Direct investment liabilities - stocks   (% of GDP)41.8 49.8 50.0 56.3 53.9 57.8 56.5 60.0 59.5 59.2 Net trade balance of energy products (% of GDP)0.3 0.0 0.0 0.0 -0.1 -0.2 -0.2 -0.3 -0.5 -1.0 Real effective exchange rate - euro area trading partners(3 year % change)-1.3 -1.4 -1.5 -0.4 -0.7 -1.8 -2.5 -2.0 -1.3 -0.9 Export performance against advanced economies (5 year % change)-11.5 -9.8 -6.6 -5.0 -1.4 -2.5 -0.4 10.9 10.2 16.6 Terms of trade (5 year % change)2.4 3.7 1.6 3.4 2.8 1.0 -0.7 2.1 2.9 4.1 Export market share in volume (1 year % change)-2.0 -0.5 0.5 1.8 -0.7 -0.4 3.2 1.4 -3.2 5.9 Labour productivity (1 year % change)0.9 0.7 1.0 1.5 1.3 0.5 0.1 -1.6 4.4 -1.0 Gross non-performing loans of domestic and foreign entities  (% of gross loans)18.4e5.1e3.9e3.3e2.5e2.3e1.9e1.9e1.8e1.5pUnit labour cost performance relative to EA (10 year % change)4.8 5.4 4.3 1.7 -2.5 -5.2 -5.6 -6.4 -5.4 -4.6 House price index - nominal (3 year % change)-0.6 4.9 15.3 16.8 17.7 14.8 11.7 12.3 20.2 16.9 Residential construction (% of GDP)3.7 3.9 4.0 4.2 4.6 4.8 5.2 5.7 5.9 5.2 Household debt, consolidated (incl. NPISH, % of GDP)133.3 131.5 128.9 116.4b113.8 111.9 110.6 112.0 102.1 84.8 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)18.4e18.4e16.7e16.7e16.4e16.4e16.7e17.4e16.2e16.4pSource:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:b:Break in series. e:Estimated. p:Provisional.  
 
 
 
 
Table 5.6 (continued): Auxiliary indicators for Denmark 

133 

20132014201520162017201820192020202120221 year % change0.0 0.9 1.4 1.7 1.5 1.5 1.4 -0.8 2.4 3.8 %76.6 76.6 76.9 77.5b77.9b78.2 79.1 79.0 79.6 80.4 %1.8 1.7 1.6 1.2b1.2b1.0 0.8 0.9 1.0 0.5 %14.8 14.2 12.2 12.2b12.4b10.5 10.1 11.6 10.8 10.6 %6.6 6.4 7.0 6.7b7.6b7.7 7.7 7.4 7.1 6.7 3 year change in pp-0.3 -0.8 -0.3 0.1b1.2b0.7 1.0b-0.2b-0.6 -1.0 %nana18.6 17.5 17.8 17.5 17.3 16.8b17.3 17.1 3 year change in ppnanananana-1.1 -0.2 -1.0b-0.2 -0.2 %11.9 12.1 12.2 11.9 12.4 12.7 12.5 12.1b12.3 12.4 3 year change in pp-1.4 0.0 0.2 0.0 0.3 0.5 0.6 -0.3b-0.4 -0.1 %nana3.2 2.6 3.6 3.5 3.8 3.5 3.1 3.2 3 year change in ppnanananana0.3 1.2 -0.1 -0.4 -0.6 %nana11.9 11.1 10.5 10.0 9.5 9.1 9.7 8.8 3 year change in ppnanananana-1.9 -1.6 -1.4 -0.3 -0.7 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1) Labour Force Survey indicators, 2016-2017: b = improvement in the data collection and introduction of CAWI (computer-assisted web interviewing) technique. 2) Income and Living Conditions, b = methodological revisions on income variables.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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
 
Table 5.7: Auxiliary indicators for Germany 

134 

Germany2013201420152016201720182019202020212022Real GDP (1 year % change) 0.4 2.2 1.5 2.2 2.7 1.0 1.1p-3.8p3.2p1.8pGross fixed capital formation (% of GDP)19.9 20.0 20.0 20.3 20.4 21.1 21.3p21.5p21.3p22.1pGross domestic expenditure on R&D (% of GDP)2.8 2.9 2.9 2.9 3.0 3.1 3.2 3.1e3.1 3.1pCurrent plus capital account (net lending-borrowing)(% of GDP)6.5 7.3 8.6 8.7 7.8 8.0 8.1 6.8 7.7 3.7 Net international investment position excluding non-defaultable instruments (% of GDP) 29.9 32.1 34.9 38.3 45.4 45.7 51.0 54.8 54.1 49.8 Direct investment liabilities - flows (% of GDP)1.8 0.5 1.9 1.9 3.0 4.2 1.9 4.1 2.2 1.1 Direct investment liabilities - stocks   (% of GDP)41.3 41.3 42.2 42.9 43.8 45.6 46.3 51.8 51.0 48.8 Net trade balance of energy products (% of GDP)-3.4 -2.8 -2.0 -1.5 -1.7 -2.0 -1.8p-1.2p-1.9p-3.4pReal effective exchange rate - euro area trading partners(3 year % change)-0.7 0.0 1.1 1.0 0.8 0.4 0.3 0.1 0.6 0.3 Export performance against advanced economies (5 year % change)-6.3 -3.0 -1.2 -0.1 2.6 0.7 -2.4 1.9 -2.0 -9.7 Terms of trade (5 year % change)0.4 -2.6 1.9 6.4 5.7 3.8 3.2p2.8p-1.9p-5.9pExport market share in volume (1 year % change)-2.6 1.2 2.3 0.2 -0.6 -1.6 1.0p-1.8p-1.2p-1.6pLabour productivity (1 year % change)-0.3 1.3 0.5 1.0 1.3 -0.4 0.2p-3.1p3.0p0.4pGross non-performing loans of domestic and foreign entities  (% of gross loans)20.3e3.9e3.0e2.6e1.8e1.4e1.2e1.2e1.1e1.1pUnit labour cost performance relative to EA (10 year % change)-6.9 -4.2 0.9 5.5 8.6 12.2 10.9 9.6 10.9 9.5 House price index - nominal (3 year % change)10.4 10.0 11.4 16.1 19.5 21.7 19.7 21.6 27.1 26.6 Residential construction (% of GDP)5.9 5.9 5.8 6.0 6.0 6.3 6.4p7.0p7.0p7.3pHousehold debt, consolidated (incl. NPISH, % of GDP)55.7 54.2 53.6 53.3 52.9 52.6 53.5p57.0p56.5p55.0pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)20.3e19.2e18.6e18.4e14.1e13.9e13.7e14.4e14.1e14.3pSource:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:e:Estimated. p:Provisional.  
 
 
 
 
Table 5.7 (continued): Auxiliary indicators for Germany 

135 

20132014201520162017201820192020202120221 year % change0.8 0.9 0.9 1.2 1.4 1.4 0.9p-0.8p0.2p1.4p%76.4 76.5 76.4 76.7 77.0 77.5 78.0 77.3b78.5 79.4 %2.3 2.2 2.0 1.7 1.5 1.4 1.2 1.1b1.2 1.0 %8.3 8.3 7.7 7.5 7.2 6.6 6.2 8.0b7.0 6.0 %7.1 7.2 7.0 7.6 7.1 6.7 6.4 8.2b7.8 6.8 3 year change in pp-2.3b-1.3b-1.0 0.5 -0.1 -0.3 -1.2 1.1b1.1 0.4 %nana20.0 19.8 18.8 18.5 17.3 20.4b21.0 20.9 3 year change in ppnanananana-1.5 -2.5 1.6b2.5 3.6 %16.1 16.7 16.7 16.5 16.1 16.0 14.8 16.1b16.0 14.7 3 year change in pp0.5 0.9 0.6 0.4 -0.6 -0.7 -1.7 0.0b0.0 -0.1 %nana5.7 4.7 3.7 3.4 3.0 4.4b4.3 6.1 3 year change in ppnanananana-2.3 -1.7 0.7b0.9 3.1 %nana9.5 9.4 8.7 8.0 7.6 8.3b9.5 9.7 3 year change in ppnanananana-1.5 -1.8 -0.4b1.5 2.1 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. 1)LabourForceSurveyindicators,2020:b=duetotechnicalissueswiththeintroductionofthenewGermansystemofintegratedhouseholdsurveys,includingtheLFS,thefiguresforGermanyarenotdirectestimatesfromLFSmicro-data,butbasedonalargersampleincludingadditionaldatafrom 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
 
Table 5.8: Auxiliary indicators for Estonia 

136 

Estonia2013201420152016201720182019202020212022Real GDP (1 year % change) 1.5 3.0 1.9 3.2 5.8 3.8 4.0 -1.0 7.2 -0.5 Gross fixed capital formation (% of GDP)27.9 25.7 24.5 24.4 25.9 27.1 27.1 29.8 29.2 27.5 Gross domestic expenditure on R&D (% of GDP)1.7 1.4 1.5 1.2 1.3 1.4 1.6 1.8 1.8 naCurrent plus capital account (net lending-borrowing)(% of GDP)2.9 1.8 3.8 2.3 3.2 2.3 4.1 0.0 6.4 -2.9 Net international investment position excluding non-defaultable instruments (% of GDP) 7.4 12.8 16.7 18.1 19.8 24.5 30.8 42.0 41.8 28.7 Direct investment liabilities - flows (% of GDP)4.4 6.6 -3.2 3.8 6.5 4.0 9.7 11.8 20.3 4.7 Direct investment liabilities - stocks   (% of GDP)98.9 103.8 98.0 98.5 95.5 93.8 97.8 111.8 129.3 118.3 Net trade balance of energy products (% of GDP)-2.2 -2.1 -1.5 -1.0 -0.6 -1.0 -1.3 -0.5 -0.3 -2.3 Real effective exchange rate - euro area trading partners(3 year % change)5.4 3.1 1.5 0.2 2.3 4.1 4.4 1.3 1.4 9.5 Export performance against advanced economies (5 year % change)18.4 29.2 9.5 -2.8 -1.2 -2.5 -0.5 16.2 23.7 21.4 Terms of trade (5 year % change)-0.7 0.4 2.9 3.7 4.1 4.3 3.4 3.4 2.7 3.6 Export market share in volume (1 year % change)-0.8 -1.0 -4.6 2.5 -0.7 -0.9 3.7 2.0 11.2 -1.9 Labour productivity (1 year % change)0.2 2.2 -1.0 2.9 3.0 2.8 2.7 1.8 7.1 -4.8 Gross non-performing loans of domestic and foreign entities  (% of gross loans)6.8e3.2e2.2e1.7e1.9e1.3e1.6e1.6e1.1e0.8pUnit labour cost performance relative to EA (10 year % change)41.8 40.7 44.3 37.0 24.2 17.2 22.5 25.9 26.3 36.8 House price index - nominal (3 year % change)28.8 35.0 34.5 27.3 18.1 17.1 19.6 20.2 30.5 49.1 Residential construction (% of GDP)3.4 3.8 4.0 4.4 4.6 4.5 4.9 5.4 4.9 5.1 Household debt, consolidated (incl. NPISH, % of GDP)40.2 38.9 39.7 40.0 39.4 38.5 38.3 40.6 38.4 36.8 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)6.8e6.6e7.7e7.7e6.8e6.9e7.5e8.8e9.4e9.0pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.8 (continued): Auxiliary indicators for Estonia  

137 

20132014201520162017201820192020202120221 year % change1.2 0.8 2.9 0.3 2.7 0.9 1.3 -2.7 0.1 4.6 %75.8 75.9 77.0 77.9 79.2 79.3 79.2 79.6 79.1 81.2 %3.8 3.3 2.4 2.2 2.0 1.3 0.9 1.2 1.6 1.3 %18.6 14.9 14.3 14.0 12.1 12.0 11.6 18.3 16.7 18.6 %11.2 11.5 11.3 9.2 9.6 10.2 7.7 9.0 10.9 10.7 3 year change in pp-2.5 0.1 -0.7 -2.0 -1.9 -1.1 -1.5 -0.6 0.7 3.0 %nana23.6 23.1 23.3 23.6 23.7 22.8 22.2 25.2 3 year change in ppnanananana0.0 0.6 -0.5 -1.4 1.5 %18.6 21.8 21.6 21.7 21.0 21.9 21.7 20.7 20.6 22.8 3 year change in pp2.8 4.3 4.1 3.1 -0.8 0.3 0.0 -0.3 -1.3 1.1 %nana3.5 2.2 4.0 3.1 2.6 2.3 1.9 3.3 3 year change in ppnanananana-0.4 0.4 -1.7 -1.2 0.7 %nana6.2 5.5 5.4 5.3 5.3 4.8 5.1 5.7 3 year change in ppnanananana-0.9 -0.2 -0.6 -0.2 0.4 People at risk of poverty or social exclusion - % of total populationSource: 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
Table 5.9: Auxiliary indicators for Ireland 

138 

Ireland2013201420152016201720182019202020212022Real GDP (1 year % change) 1.2 8.8 24.5 1.8 9.3 8.5 5.3 6.6 15.1 9.4 Gross fixed capital formation (% of GDP)18.6 20.6 24.0 35.9 33.0 28.4 54.3 42.1 22.3 21.6 Gross domestic expenditure on R&D (% of GDP)1.6e1.5 1.2 1.2 1.2 1.1e1.2 1.1 1.1 1.0eCurrent plus capital account (net lending-borrowing)(% of GDP)1.0 -2.4 3.9 -5.8 -8.2 -10.7 -29.8 -9.7 14.0 10.6 Net international investment position excluding non-defaultable instruments (% of GDP) -310.9 -351.0 -242.6 -249.6 -263.2 -249.2 -282.9 -293.8 -323.4 -234.0 Direct investment liabilities - flows (% of GDP)29.7 38.3 81.8 34.8 19.1 18.9 7.1 7.1 18.1 -0.1 Direct investment liabilities - stocks   (% of GDP)348.5 387.1 496.3 518.6 476.6 485.6 469.5 424.1 410.6 366.8 Net trade balance of energy products (% of GDP)-3.2 -2.7 -1.5 -1.1 -1.2 -1.4 -1.2 -0.7 -1.2 -2.2 Real effective exchange rate - euro area trading partners(3 year % change)-3.1 -1.8 -1.5 -1.1 -2.2 -3.0 -2.9 -2.5 -1.7 -2.0 Export performance against advanced economies (5 year % change)-3.7 -8.5 40.7 55.2 66.0 74.1 69.5 52.2 46.4 37.1 Terms of trade (5 year % change)-4.8 -5.3 1.9 -0.3 -0.1 -0.5 2.0 -2.2 -3.5 -1.3 Export market share in volume (1 year % change)-0.6 11.0 36.1 2.3 4.1 6.0 10.5 19.0 4.2 9.0 Labour productivity (1 year % change)-1.7 6.0 20.3 -1.9 6.3 5.5 2.3 9.7 8.6 2.6 Gross non-performing loans of domestic and foreign entities  (% of gross loans)15.0e21.6e14.9e13.1e9.9e5.5e3.4e3.4e2.4e1.7pUnit labour cost performance relative to EA (10 year % change)-5.8 -12.0 -28.3 -28.3 -33.3 -39.0 -34.5 -35.8 -36.3 -38.3 House price index - nominal (3 year % change)-27.3 2.1 31.5 39.6 32.8 31.3 25.1 13.2 11.2 22.0 Residential construction (% of GDP)1.6 1.8 1.5 1.8 2.1 2.4 2.2 2.1 2.0 2.4 Household debt, consolidated (incl. NPISH, % of GDP)93.4 80.8 56.4 52.4 46.6 42.8 38.7 34.8 29.7 25.5 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)15.0e9.1e7.8e7.4e6.6e6.7e7.4e8.8e8.8e9.3pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.9 (continued): Auxiliary indicators for Ireland   

139 

20132014201520162017201820192020202120221 year % change2.9 2.6 3.5 3.7 2.8 2.8 3.0 -2.8 6.0 6.6 %71.8 71.8 72.0 72.6 72.6 72.8 73.2 70.8 74.6 76.7 %7.9 6.6 5.3 4.2 3.0 2.1 1.6 1.4 1.8 1.3 %26.7 23.4 20.2 16.8 14.4 13.8 12.5 15.8 14.5 10.1 %16.4 15.2 14.2 12.6 10.9 10.1 10.1 12.0 7.7 6.8 3 year change in pp-3.0 -3.9 -5.0 -3.8 -4.3 -4.1 -2.5 1.1 -2.4 -3.3 %nana25.4 23.8 22.4 20.8 20.4 20.1b20.0 20.7 3 year change in ppnanananana-4.6 -3.4 -2.3b-0.8 0.3 %15.7 16.8 16.2 16.8 15.6 14.9 13.1 13.8b12.9 14.0 3 year change in pp0.5 1.6 -0.1 1.1 -1.2 -1.3 -3.7 -1.8b-2.0 0.9 %nana9.4 8.0 6.9 6.1 7.1 5.7b5.1 5.8 3 year change in ppnanananana-3.3 -0.9 -1.2b-1.0 -1.3 %nana18.8 17.8 16.1 13.2 13.8 11.5b13.0 10.5 3 year change in ppnanananana-5.6 -4.0 -4.6b-0.2 -3.3 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1) Income and Living Conditions, b = increased use of administrative data.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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
Table 5.10: Auxiliary indicators for Greece 

140 

Greece2013201420152016201720182019202020212022Real GDP (1 year % change) -2.5 0.5 -0.2 -0.5 1.1 1.7 1.9 -9.3 8.4p5.6pGross fixed capital formation (% of GDP)11.2 10.8 10.8 11.0 11.8 11.1 10.7 12.1 13.3p13.7pGross domestic expenditure on R&D (% of GDP)0.8 0.8 1.0 1.0 1.2 1.2 1.3 1.5 1.5 naCurrent plus capital account (net lending-borrowing)(% of GDP)0.3 0.7 0.3 -1.2 -1.4 -2.7 -1.1 -5.0 -4.6 -8.8 Net international investment position excluding non-defaultable instruments (% of GDP) -130.3 -129.7 -128.5 -128.4 -128.9 -135.1 -133.5 -155.4 -151.1 -120.7 Direct investment liabilities - flows (% of GDP)1.2 1.1 0.7 1.4 1.7 1.9 2.4 1.8 3.1 3.6 Direct investment liabilities - stocks   (% of GDP)12.1 11.9 14.8 15.8 18.0 19.4 23.8 22.3 24.0 25.2 Net trade balance of energy products (% of GDP)-3.7 -3.4 -2.2 -1.6 -1.8 -2.5 -2.3 -1.8 -3.1p-6.0pReal effective exchange rate - euro area trading partners(3 year % change)-3.4 -5.6 -5.3 -3.3 -1.9 -1.5 -2.1 -3.2 -4.3 -3.1 Export performance against advanced economies (5 year % change)-21.0 -13.6 -12.2 -11.7 -3.5 3.8 1.1 -10.6 13.2 16.9 Terms of trade (5 year % change)1.2 3.7 4.5 7.3 8.3 4.3 1.9 -3.1 -5.2p-4.2pExport market share in volume (1 year % change)-1.8 4.6 1.9 -2.7 3.0 5.3 3.6 -14.0 13.3p1.3pLabour productivity (1 year % change)-1.9 -3.0 2.8 -3.8 1.6 -2.8 -0.3 -6.9 7.1p3.0pGross non-performing loans of domestic and foreign entities  (% of gross loans)14.0e39.7e46.8e46.3e45.0e41.6e35.5e26.5e8.6e6.2pUnit labour cost performance relative to EA (10 year % change)3.7 0.6 -9.8 -9.1 -11.0 -15.1 -18.8 -16.8 -21.2 -23.0 House price index - nominal (3 year % change)-25.5e-27.1e-21.7e-14.2e-8.3e-1.6e8.1e14.1e20.6e24.9eResidential construction (% of GDP)2.3 1.1 0.8 0.7 0.6 0.7 0.8 1.1 1.3p1.6pHousehold debt, consolidated (incl. NPISH, % of GDP)66.1 64.2 62.5 61.0 58.1 58.6 55.8 59.6 55.6p45.2pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)14.0e12.8e11.0e10.1e8.8e11.5e10.9e13.8e17.0e15.0pFlags:e:Estimated. p:Provisional. 1) House price index e = estimate by NCB.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.10 (continued): Auxiliary indicators for Greece 

141 

20132014201520162017201820192020202120221 year % change-0.6 3.6 -2.9 3.4 -0.5 4.6 2.2 -2.6 1.2p2.5p%67.4 67.3 67.7 68.2 68.2 68.1 68.5 65.3 67.3 69.4 %16.7 17.5 16.4 15.4 14.3 12.5 11.3 10.5 9.2 7.7 %59.2 53.0 50.3 48.2 44.5 41.2 37.5 38.0 35.5 31.4 %17.5 16.4 14.7 13.6 13.1 12.1 10.8 11.3 11.0 10.6 3 year change in pp4.9 1.5 -2.6 -3.9 -3.3 -2.6 -2.8 -1.8 -1.1 -0.2 %nana32.4 32.6 32.2 30.3 29.0 27.4 28.3 26.3 3 year change in ppnanananana-2.1 -3.6 -4.8 -2.0 -2.7 %23.1 22.1 21.4 21.2 20.2 18.5 17.9 17.7 19.6 18.8 3 year change in pp3.0 0.7 -1.7 -1.9 -1.9 -2.9 -3.3 -2.5 1.1 0.9 %nana17.6 18.4 18.3 16.1 15.8 14.9 13.9 13.9 3 year change in ppnanananana-1.5 -2.6 -3.4 -2.2 -1.9 %nana15.3 15.7 14.3 13.6 12.7 11.8 12.1 9.5 3 year change in ppnanananana-1.7 -3.0 -2.5 -1.5 -3.2 People at risk of poverty or social exclusion - % of total populationFlags: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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
 
Table 5.11: Auxiliary indicators for Spain 

142 

Spain2013201420152016201720182019202020212022Real GDP (1 year % change) -1.4 1.4 3.8 3.0 3.0 2.3 2.0 -11.2 6.4p5.8pGross fixed capital formation (% of GDP)17.4 17.8 18.0 18.0 18.7 19.4 20.0 20.4 20.1p20.1pGross domestic expenditure on R&D (% of GDP)1.3 1.2 1.2 1.2 1.2 1.2 1.3 1.4 1.4 naCurrent plus capital account (net lending-borrowing)(% of GDP)2.6 2.1 2.7 3.4 3.0 2.4 2.4 1.1 1.6 1.5 Net international investment position excluding non-defaultable instruments (% of GDP) -69.7 -70.1 -64.8 -61.6 -57.4 -52.1 -46.0 -52.2 -39.6 -30.2 Direct investment liabilities - flows (% of GDP)3.5 2.3 1.9 3.6 2.5 4.0 1.8 3.0 3.9 3.6 Direct investment liabilities - stocks   (% of GDP)57.7 60.0 61.1 63.8 64.8 67.6 68.3 79.0 77.9 75.4 Net trade balance of energy products (% of GDP)-3.4 -2.9 -2.0 -1.5 -1.8 -2.1 -1.9 -1.3 -2.2p-3.9pReal effective exchange rate - euro area trading partners(3 year % change)0.4 -0.6 -1.4 -2.3 -1.1 -0.2 0.0 -1.2 -0.7 -0.5 Export performance against advanced economies (5 year % change)-3.4 -5.1 -1.3 0.7 6.4 1.8 0.2 -7.1 -8.4 -4.3 Terms of trade (5 year % change)-1.6 -6.7 -3.6 0.4 1.0 -1.0 -0.4 1.2 0.1p-6.4pExport market share in volume (1 year % change)0.8 0.9 1.2 3.1 0.0 -2.1 0.9 -12.6 2.6p10.3pLabour productivity (1 year % change)1.1 0.4 1.0 0.9 0.3 0.1 -0.6 -7.3 4.0p3.0pGross non-performing loans of domestic and foreign entities  (% of gross loans)14.9e8.1e6.3e5.7e4.4e3.7e3.1e2.8e2.9e2.7pUnit labour cost performance relative to EA (10 year % change)-1.1 -4.4 -6.2 -10.5 -13.0 -15.6 -11.2 -7.5 -5.8 -4.3 House price index - nominal (3 year % change)-28.5 -22.3 -5.6 8.7 15.1 18.6 19.2 14.8 11.5 13.8 Residential construction (% of GDP)3.9 4.2 4.0 4.4 4.8 5.4 5.8 5.9 5.8p5.7pHousehold debt, consolidated (incl. NPISH, % of GDP)77.7 73.4 68.0 64.5 61.1 58.9 56.8 62.6 57.6p52.3pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)14.9e14.0e13.7e13.2e13.5e13.6e13.5e15.8e15.8e16.0pSource:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:e:Estimated. p:Provisional.  
 
 
 
 
Table 5.11 (continued): Auxiliary indicators for Spain   

143 

20132014201520162017201820192020202120221 year % change-2.4 1.0 2.8 2.1 2.6 2.2 2.6 -4.2 2.3p2.7p%74.3 74.2 74.3 74.2 73.9 73.7 73.8 72.2 73.7d74.0d%13.0 12.9 11.4 9.5 7.7 6.4 5.3 5.0 6.2d5.0d%55.5 53.2 48.3 44.4 38.6 34.3 32.5 38.3 34.8d29.8d%18.6 17.1 15.6 14.6 13.3 12.4 12.1 13.9 11.0d10.5d3 year change in pp0.8 -1.1 -3.0 -4.0 -3.8 -3.2 -2.5 0.6 -1.4d-1.6d%nana28.7 28.8 27.5 27.3 26.2 27.0 27.8 26.0 3 year change in ppnanananana-1.4 -2.6 -0.5 0.5 -0.2 %20.4 22.2 22.1 22.3 21.6 21.5 20.7 21.0 21.7 20.4 3 year change in pp-0.3 1.6 1.3 1.9 -0.6 -0.6 -1.6 -0.6 0.2 -0.3 %nana7.4 8.5 8.3 8.7 7.7 8.5 8.3 7.7 3 year change in ppnanananana1.3 -0.8 0.2 -0.4 0.0 %nana15.4 14.9 12.8 10.8 10.9 10.0 11.6 8.7 3 year change in ppnanananana-4.6 -4.0 -2.8 0.8 -2.2 People at risk of poverty or social exclusion - % of total populationFlags:d:Definition differs. p:Provisional. 1) Employment indicators, 2021-2022: d = Spain has assessed the attachment to the job and included in employment those who had an unknown duration of absence from work, but are expected to return to the same job once COVID-19 health measures allow it.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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
Table 5.12: Auxiliary indicators for France 

144 

France2013201420152016201720182019202020212022Real GDP (1 year % change) 0.6 1.0 1.1 1.1 2.3 1.9 1.8 -7.5 6.4p2.5pGross fixed capital formation (% of GDP)22.0 21.8 21.5 21.8 22.5 22.9 23.5 23.3 24.5p25.2pGross domestic expenditure on R&D (% of GDP)2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.3 2.2 2.1pCurrent plus capital account (net lending-borrowing)(% of GDP)-0.5 -1.0 -0.4 -0.4 -0.8 -0.7 0.6 -1.5 0.7 -1.6 Net international investment position excluding non-defaultable instruments (% of GDP) -26.9 -31.0 -29.7 -30.4 -33.7 -34.1 -35.2 -41.9 -39.3 -33.4 Direct investment liabilities - flows (% of GDP)1.1 0.2 1.8 1.3 1.4 2.8 2.0 0.7 3.2 3.8 Direct investment liabilities - stocks   (% of GDP)41.3 42.1 43.9 44.7 44.4 44.6 46.5 50.3 51.3 51.6 Net trade balance of energy products (% of GDP)-3.1 -2.5 -1.8 -1.4 -1.7 -1.9 -1.8 -1.1 -1.8p-4.3pReal effective exchange rate - euro area trading partners(3 year % change)-1.4 -0.7 -0.6 0.0 -0.7 -0.1 -0.1 0.6 -0.5 -3.6 Export performance against advanced economies (5 year % change)-7.6 -8.4 -1.7 -1.1 -0.5 -1.9 -2.8 -8.3 -8.0 -7.3 Terms of trade (5 year % change)-0.4 -1.7 2.8 6.4 5.3 2.9 2.6 0.2 -0.8p-2.6pExport market share in volume (1 year % change)-1.5 -0.3 1.5 -0.5 -1.1 0.7 0.3 -9.4 0.1p2.2pLabour productivity (1 year % change)0.4 0.4 0.9 0.5 1.1 0.9 0.6 -7.5 3.5p-0.2pGross non-performing loans of domestic and foreign entities  (% of gross loans)18.1e4.2e4.0e3.6e3.1e2.7e2.5e2.2e1.9e1.8pUnit labour cost performance relative to EA (10 year % change)2.8 3.0 1.9 0.6 0.5 0.1 -2.1 -3.9 -3.9 -2.5 House price index - nominal (3 year % change)3.2 -3.9 -4.7 -1.8 2.8 7.3 9.7 11.9 15.6 18.9 Residential construction (% of GDP)6.1 6.0 5.9 6.0 6.3 6.3 6.5 6.4 7.0p7.1pHousehold debt, consolidated (incl. NPISH, % of GDP)55.6 55.6 56.1 57.1 58.4 60.4 62.2 68.2 66.6p66.2pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)18.1e18.9e17.3e16.0e15.2e15.3e15.1e16.2e15.8e16.0pSource:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:e:Estimated. p:Provisional.  
 
 
 
 
Table 5.12 (continued): Auxiliary indicators for France  

145 

20132014201520162017201820192020202120221 year % change0.2 0.5 0.2 0.6 1.1 1.0 1.2 0.0 2.8p2.6p%71.8 72.0 72.2 72.3 72.4 72.8 72.6 72.0 73.0d73.6d%2.9 3.1 3.1 3.1 2.9 2.5 2.3 1.9 2.3d2.0d%26.4 25.7 26.1 26.0 23.5 22.0 20.7 21.5 18.9d17.3d%10.7 11.1 11.8 11.7 11.3 10.9 10.5 11.2 10.6d10.1d3 year change in pp0.7 1.3 1.9 1.0 0.2 -0.9 -1.2 -0.1 -0.3d-0.4d%nana18.4 18.7 17.8 17.9 18.8 19.3b19.2 21.0b3 year change in ppnanananana-0.5 0.1 1.5b1.3 2.2b%13.7 13.3 13.6 13.6 13.2 13.4 13.6 14.2b14.3 15.6b3 year change in pp0.4 -0.7 -0.5 -0.1 -0.1 -0.2 0.0 1.0b0.9 2.0b%nana6.8 6.7 6.3 6.7 7.3 7.0b5.9 7.7b3 year change in ppnanananana-0.1 0.6 0.7b-0.8 0.4b%nana8.3 7.8 7.7 7.5 7.1 9.7b10.8 9.9b3 year change in ppnanananana-0.8 -0.7 2.0b3.3 2.8bPeople at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. d:Definition differs. p:Provisional. 1)Employmentindicators,2021-2022:d=Francehasassessedtheattachmenttothejobandincludedinemploymentthosewhohadanunknowndurationofabsencefromwork,butareexpectedtoreturntothesamejobonceCOVID-19healthmeasuresallowit.2)IncomeandLivingConditions,2020: b = change occurred in the duration of the panel for poverty longitudinal indicators (from 9 to 4 years); 2022 b = inclusion of four overseas departments (French Guiana, Réunion, Martinique and Guadeloupe) in the SILC exercise.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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
Table 5.13: Auxiliary indicators for Croatia 

146 

Croatia2013201420152016201720182019202020212022Real GDP (1 year % change) -0.4 -0.4 2.5 3.6 3.4 2.8 3.4 -8.6 13.8 6.3pGross fixed capital formation (% of GDP)19.3 19.0 19.2 19.7 19.6 20.0 21.2 22.2 21.0 19.6pGross domestic expenditure on R&D (% of GDP)0.8 0.8 0.8 0.9 0.8 1.0 1.1 1.2 1.2 1.4 Current plus capital account (net lending-borrowing)(% of GDP)-0.9 0.7 4.0 3.6 4.2 2.9 4.1 1.1 3.4 -0.3 Net international investment position excluding non-defaultable instruments (% of GDP) -48.2 -44.8 -37.9 -27.4 -18.5 -12.2 0.7 2.5 10.8 13.5 Direct investment liabilities - flows (% of GDP)1.6 5.2 0.0 0.8 0.9 2.0 6.3 2.2 6.8 5.0 Direct investment liabilities - stocks   (% of GDP)51.4 59.1 52.6 56.0 56.6 55.2 59.8 64.9 62.1 53.9 Net trade balance of energy products (% of GDP)-5.0 -3.9 -3.3 -2.6 -2.8 -3.1 -2.8 -2.0 -3.8 -9.0pReal effective exchange rate - euro area trading partners(3 year % change)-2.9 -1.4 -1.2 -1.1 0.6 1.2 0.5 -2.0 -2.3 -0.4 Export performance against advanced economies (5 year % change)-17.3 -13.5 -3.9 7.0 19.4 19.1 19.4 -1.1 8.5 16.3 Terms of trade (5 year % change)1.4 0.7 0.5 1.5 2.4 3.3 3.7 1.6 -2.0 -7.0pExport market share in volume (1 year % change)-1.0 3.7 7.1 4.7 1.4 -0.2 5.5 -15.7 21.8 22.1pLabour productivity (1 year % change)2.5 -3.0 1.2 3.3 0.9 0.2 0.3 -7.5 12.4 3.9pGross non-performing loans of domestic and foreign entities  (% of gross loans)7.5e13.6e13.0e10.7e8.8e7.3e5.2e5.3e4.2e3.0pUnit labour cost performance relative to EA (10 year % change)-2.6 -5.9 -7.7 -11.7 -14.8 -14.2 -17.7 -14.2 -14.6 -11.0 House price index - nominal (3 year % change)-5.3 -6.9 -8.2 -3.6 1.7 11.1 20.0 24.5 25.9 32.7 Residential construction (% of GDP)2.9 2.7 2.6 2.6 2.4 2.6 2.8 3.1 3.6 3.4pHousehold debt, consolidated (incl. NPISH, % of GDP)39.6 39.4 37.7 34.6 33.6 33.6 34.0 37.8 34.0 30.7pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)7.5e7.2e8.0e7.2e7.4e7.5e7.5e7.6e7.8e9.0pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.13 (continued): Auxiliary indicators for Croatia 

147 

20132014201520162017201820192020202120221 year % change-2.8 2.6 1.3 0.2 2.4 2.6 3.1 -1.2 1.2 2.3 %63.7 66.1 66.9 65.6 66.4 66.3 66.5 67.1 68.7 69.9 %11.0 10.1 10.2 6.6 4.6 3.4 2.4 2.1 2.8 2.4 %50.0 45.5 42.3 31.3 27.4 23.7 16.6 21.1 21.9 18.0 %19.6 19.3 18.1 16.9 15.4 13.6 11.8 12.2 12.7 11.9 3 year change in pp3.9 3.1 1.5 -2.7 -3.9 -4.5 -5.1 -3.2 -0.9 0.1 %nana24.4 23.5 23.7 22.1 20.8 20.5 20.9 19.9 3 year change in ppnanananana-2.3 -2.7 -3.2 -1.2 -0.9 %19.5 19.4 20.0 19.5 20.0 19.3 18.3 18.3 19.2 18.0 3 year change in pp-1.1 -1.5 -0.4 0.0 0.6 -0.7 -1.2 -1.7 -0.1 -0.3 %nana8.4 7.3 7.1 6.1 4.6 4.4 3.5 4.0 3 year change in ppnanananana-2.3 -2.7 -2.7 -2.6 -0.6 %nana12.3 11.1 10.6 9.3 7.5 7.2 7.5 6.3 3 year change in ppnanananana-3.0 -3.6 -3.4 -1.8 -1.2 People at risk of poverty or social exclusion - % of total populationSource: 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
 
Table 5.14: Auxiliary indicators for Italy  

148 

Italy2013201420152016201720182019202020212022Real GDP (1 year % change) -1.8 0.0 0.8 1.3 1.7 0.9 0.5 -9.0 8.3 3.7 Gross fixed capital formation (% of GDP)17.2 16.7 16.9 17.2 17.5 17.8 18.0 18.0 20.5 21.9 Gross domestic expenditure on R&D (% of GDP)1.3 1.3e1.3 1.4b1.4 1.4 1.5 1.5 1.5 1.3pCurrent plus capital account (net lending-borrowing)(% of GDP)1.1 2.1 1.8 2.5 2.7 2.6 3.2 3.9 2.6 -0.9 Net international investment position excluding non-defaultable instruments (% of GDP) -23.9 -21.1 -17.4 -11.8 -5.9 -6.2 -1.0 0.4 5.6 1.6 Direct investment liabilities - flows (% of GDP)0.9 0.8 0.7 1.4 0.6 2.1 1.8 -0.9 1.2 3.0 Direct investment liabilities - stocks   (% of GDP)23.7 25.0 25.5 26.3 26.2 27.6 28.9 31.8 30.3 31.3 Net trade balance of energy products (% of GDP)-3.3 -2.6 -2.0 -1.5 -1.9 -2.3 -2.0 -1.3 -2.6 -5.6 Real effective exchange rate - euro area trading partners(3 year % change)1.0 0.4 -0.7 -0.9 -0.8 -1.3 -1.7 -1.9 -2.1 -1.4 Export performance against advanced economies (5 year % change)-14.3 -9.4 -7.9 -6.1 -2.3 -2.6 -4.4 -2.8 -2.7 -5.0 Terms of trade (5 year % change)-0.8 -3.8 2.5 8.6 8.6 6.2 4.4 5.7 -2.4 -9.5 Export market share in volume (1 year % change)-3.2 -1.0 1.2 -0.4 -0.1 -1.7 0.3 -6.0 3.0 5.0 Labour productivity (1 year % change)-0.1 -0.1 0.1 -0.1 0.5 0.0 0.0 -7.0 7.4 2.0 Gross non-performing loans of domestic and foreign entities  (% of gross loans)15.0e16.5e16.5e15.0e11.2e8.4e6.7e4.5e3.5e2.9pUnit labour cost performance relative to EA (10 year % change)5.6 3.0 2.4 0.0 -1.7 -2.1 -2.8 -5.2 -5.8 -5.8 House price index - nominal (3 year % change)-7.6 -13.1 -14.3 -8.1 -4.6 -1.4 -1.8 1.2 4.5 8.5 Residential construction (% of GDP)4.7 4.3 4.1 4.1 4.0 4.1 4.0 4.0 5.9 6.5 Household debt, consolidated (incl. NPISH, % of GDP)43.3 42.6 41.8 41.2 40.8 40.8 41.1 44.9 42.5 40.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)15.0e14.0e13.1e14.2e12.2e13.1e12.9e13.9e14.3e13.7pSource:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:b:Break in series. e:Estimated. p:Provisional.  
 
 
 
Table 5.14 (continued): Auxiliary indicators for Italy 

149 

20132014201520162017201820192020202120221 year % change-1.8 0.1 0.7 1.4 1.2 0.9 0.5 -2.1 0.9 1.7 %62.9 63.6 63.8 64.8 65.3 65.6 65.7 63.5 64.5 65.5 %7.4 8.2 7.4 7.1 6.9 6.5 5.9 5.1 5.4 4.6 %40.0 42.7 40.3 37.7 34.6 32.2 29.2 29.8 29.7 23.7 %23.3 23.2 22.5 20.9 21.1 20.3 19.0 20.0 19.8 15.9 3 year change in pp3.3 2.4 0.4 -2.4 -2.1 -2.2 -1.9 -1.1 -0.5 -3.1 %nana28.4 27.8 25.9 25.7 24.6 24.9 25.2 24.4 3 year change in ppnanananana-2.7 -3.2 -1.0 -0.5 -0.2 %19.3 19.4 19.9 20.6 20.3 20.3 20.1 20.0 20.1 20.1 3 year change in pp0.6 -0.4 0.4 1.3 0.9 0.4 -0.5 -0.3 -0.2 0.0 %nana12.1 10.1 6.6 6.5 6.4 6.2 5.9 4.5 3 year change in ppnanananana-5.6 -3.7 -0.4 -0.6 -1.9 %nana11.2 12.1 10.8 10.7 9.6 10.2 10.8 9.8 3 year change in ppnanananana-0.5 -2.5 -0.6 0.1 0.2 People at risk of poverty or social exclusion - % of total populationSource: 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
 
Table 5.15: Auxiliary indicators for Cyprus 

150 

Cyprus2013201420152016201720182019202020212022Real GDP (1 year % change) -6.6 -1.8 3.4 6.6 5.7 5.6 5.5 -3.4 9.9 5.1pGross fixed capital formation (% of GDP)14.1 13.3 12.8 18.0 20.8 18.8 19.0 21.1 19.5 20.4pGross domestic expenditure on R&D (% of GDP)0.5 0.5 0.5 0.5 0.5 0.6 0.7 0.8 0.8 naCurrent plus capital account (net lending-borrowing)(% of GDP)-0.9 -3.3 -0.4 -4.1 -4.6 -3.4 -5.7 -10.1 -5.8 -7.7 Net international investment position excluding non-defaultable instruments (% of GDP) -141.1 -197.0 -257.4 -226.6 -218.9 -180.9 -155.3 -110.4 -2.2 39.9 Direct investment liabilities - flows (% of GDP)108.6 222.1 145.6 40.6 62.8 -2.6 203.1 -102.4 22.2 3.4 Direct investment liabilities - stocks   (% of GDP)1646.3 1935.7 2124.7 2060.4 1990.4 1817.1 1879.8 1839.9 1685.1 1509.8 Net trade balance of energy products (% of GDP)-6.4 -5.9 -4.0 -3.3 -4.0 -4.1 -3.9 -3.2 -4.3 -6.6pReal effective exchange rate - euro area trading partners(3 year % change)1.0 -0.1 -2.6 -3.5 -3.9 -3.2 -2.5 -3.0 -2.4 -2.5 Export performance against advanced economies (5 year % change)-5.3 -14.3 -2.8 5.6 17.6 18.9 22.7 39.0 38.2 25.3 Terms of trade (5 year % change)-0.6 -0.8 1.4 3.9 3.2 2.6 2.6 -1.2 -1.8 -1.6pExport market share in volume (1 year % change)-2.5 2.7 5.8 4.9 5.5 3.4 7.4 9.7 10.7 8.7pLabour productivity (1 year % change)-1.1 0.2 1.8 1.8 0.3 0.3 1.7 -2.2 6.5 2.0pGross non-performing loans of domestic and foreign entities  (% of gross loans)16.2e38.6e36.3e35.4e30.7e20.2e18.1e11.0e5.6e4.5pUnit labour cost performance relative to EA (10 year % change)3.5 -1.1 -7.1 -11.1 -10.4 -10.2 -12.1 -14.2 -16.1 -18.0 House price index - nominal (3 year % change)-8.5 -8.7 -7.1b-2.9 1.0 4.3 7.9 5.3 0.0 -0.5 Residential construction (% of GDP)4.1 3.9 3.6 4.4 5.0 6.5 7.6 8.0 8.3 8.6pHousehold debt, consolidated (incl. NPISH, % of GDP)129.3 131.0 126.4 115.7 105.0 95.8 86.2 88.6 79.9 71.7pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)16.2e10.3e10.7e10.7e12.1e14.1e12.8e13.6e16.0e17.0p1) House price index, 2015: b = break in time series due to full implementation of harmonised EU methodology.Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:b:Break in series. e:Estimated. p:Provisional.  
 
 
 
 
Table 5.15 (continued): Auxiliary indicators for Cyprus 

151 

20132014201520162017201820192020202120221 year % change-5.6 -2.0 1.6 4.7 5.4 5.3 3.8 -1.2 3.2 3.0p%73.6 74.3 73.9 73.4 73.9 75.0 76.0 75.8 76.7 78.2 %6.1 7.7 6.8 5.8 4.5 2.7 2.1 2.1 2.6 2.3 %38.9 36.0 32.8 29.1 24.7 20.2 16.6 18.2 17.1 18.6 %18.7 17.0 15.3 16.0 16.1 13.2 13.7 14.4 12.8 12.9 3 year change in pp7.0 2.4 -0.7 -2.7 -0.9 -2.1 -2.3 -1.7 -0.4 -0.8 %nana22.8 22.6 21.4 19.1 18.6 17.6 17.3 16.7 3 year change in ppnanananana-3.7 -4.0 -3.8 -1.8 -1.9 %15.3 14.4 16.2 16.1 15.7 15.4 14.7 14.3 13.8 13.9 3 year change in pp-0.3 -0.4 1.5 0.8 1.3 -0.8 -1.4 -1.4 -1.6 -0.8 %nana7.9 6.6 6.1 3.8 3.2 3.2 2.6 2.7 3 year change in ppnanananana-4.1 -3.4 -2.9 -1.2 -0.5 %nana10.4 10.1 8.7 8.1 6.6 5.3 5.8 4.1 3 year change in ppnanananana-2.3 -3.5 -3.4 -2.3 -2.5 People at risk of poverty after social transfers - % of total populationSeverely materially and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64Youth 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:p:Provisional. Source: European Commission, EurostatCyprusEmploymentActivity rate - % of total population aged 15-64Long-term unemployment rate - % of active population aged 15-74 
 
 
 
 
 
 
 
 
 
 
Table 5.16: Auxiliary indicators for Latvia 

152 

Latvia2013201420152016201720182019202020212022Real GDP (1 year % change) 2.0 1.9 3.9 2.4 3.3 4.0 0.6 -3.5 6.7 3.4 Gross fixed capital formation (% of GDP)24.3 22.8 21.9 19.3 20.6 22.1 22.0 22.4 22.4 21.7 Gross domestic expenditure on R&D (% of GDP)0.6 0.7 0.6 0.4 0.5 0.6 0.6 0.7 0.7 0.7 Current plus capital account (net lending-borrowing)(% of GDP)-0.3 1.3 2.2 2.7 2.2 1.6 0.9 4.6 -2.6 -4.0 Net international investment position excluding non-defaultable instruments (% of GDP) -22.3 -16.7 -10.4 -6.6 -2.7 1.0 6.2 14.5 19.4 16.9 Direct investment liabilities - flows (% of GDP)3.3 3.3 3.0 1.2 3.8 1.3 3.3 2.7 9.5 2.9 Direct investment liabilities - stocks   (% of GDP)54.0 56.6 59.1 57.6 59.6 55.8 56.3 59.1 67.6 61.0 Net trade balance of energy products (% of GDP)-5.6 -4.7 -3.5 -2.4 -2.9 -3.4 -2.7 -1.6 -2.5 -7.2 Real effective exchange rate - euro area trading partners(3 year % change)0.2 -1.3 -2.2 -0.3 0.7 1.3 2.8 1.5 1.1 6.1 Export performance against advanced economies (5 year % change)14.0 19.8 15.6 7.0 4.2 5.7 1.2 20.7 17.9 19.6 Terms of trade (5 year % change)1.2 0.1 0.5 0.4 3.8 5.0 6.9 8.3 3.4 2.3 Export market share in volume (1 year % change)-2.9 2.7 -0.1 1.7 0.9 0.6 0.0 7.9 -1.9 5.4 Labour productivity (1 year % change)-0.3 3.3 2.4 2.7 3.3 2.5 0.7 -1.2 9.5 0.6 Gross non-performing loans of domestic and foreign entities  (% of gross loans)9.9e9.7e6.5e6.3e5.6e5.3e3.9e4.6e2.1e1.4pUnit labour cost performance relative to EA (10 year % change)60.7 57.9 44.7 31.1 8.5 -2.9 15.8 24.7 27.2 33.0 House price index - nominal (3 year % change)21.5 16.6 9.5 11.1 14.0 29.3 29.9 23.5 25.0 30.6 Residential construction (% of GDP)2.2 2.5 2.4 2.0 2.1 2.5 2.6 2.6 2.8 2.4 Household debt, consolidated (incl. NPISH, % of GDP)29.2 26.4 24.3 23.4 22.3 21.0 20.2 20.4 19.5 17.7 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)9.9e10.2e9.5e9.9e8.9e7.8e9.8e10.0e10.3e10.2pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.16 (continued): Auxiliary indicators for Latvia  

153 

20132014201520162017201820192020202120221 year % change2.3 -1.3 1.4 -0.3 0.0 1.5 -0.1 -2.3 -2.6 2.7 %73.8 74.4 75.7 76.2 76.9 77.6 77.3 78.0 75.8 76.8 %6.3 5.1 4.9 4.4 3.6 3.4 2.7 2.4 2.3 2.0 %23.2 19.6 16.3 17.5 17.0 12.2 12.7 14.9 14.8 15.3 %13.0 12.0 10.5 11.2 10.3 7.8 7.9 7.1 8.6 8.6 3 year change in pp-4.8 -4.0 -4.4 -1.8 -1.7 -2.7 -3.3 -3.2 0.8 0.7 %nana30.0 28.2 28.5 28.4 26.7 25.1 26.1 26.0 3 year change in ppnanananana-1.6 -1.5 -3.4 -2.3 -0.7 %19.4 21.2 22.5 21.8 22.1 23.3 22.9 21.6 23.4 22.5 3 year change in pp-1.5 2.2 3.3 2.4 0.9 0.8 1.1 -0.5 0.1 -0.4 %nana15.4 12.6 12.9 10.4 7.5 7.0 5.3 7.8 3 year change in ppnanananana-5.0 -5.1 -5.9 -5.1 0.3 %nana7.7 7.0 7.3 7.3 7.4 7.4 6.6 7.2 3 year change in ppnanananana-0.4 0.4 0.1 -0.7 -0.2 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64People at risk of poverty or social exclusion - % of total populationSource: 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 5.17: Auxiliary indicators for Lithuania 

154 

Lithuania2013201420152016201720182019202020212022Real GDP (1 year % change) 3.6 3.5 2.0 2.5 4.3 4.0 4.7 0.0 6.3 2.4 Gross fixed capital formation (% of GDP)18.4 18.9 19.6 19.9 20.1 20.9 21.5 21.4 21.7 21.4 Gross domestic expenditure on R&D (% of GDP)0.9 1.0 1.0 0.8 0.9 0.9 1.0 1.1 1.1 1.0 Current plus capital account (net lending-borrowing)(% of GDP)4.9 6.2 0.6 0.4 1.7 1.8 5.2 9.0 2.6 -4.0 Net international investment position excluding non-defaultable instruments (% of GDP) -18.6 -16.9 -13.5 -12.6 -7.4 -2.5 5.5 15.1 22.1 21.2 Direct investment liabilities - flows (% of GDP)1.7 0.8 2.5 2.7 2.8 2.4 6.2 8.0 4.5 0.9 Direct investment liabilities - stocks   (% of GDP)42.9 41.4 42.9 44.7 44.2 42.8 48.1 55.8 55.2 48.3 Net trade balance of energy products (% of GDP)-6.1 -4.7 -3.6 -2.6 -3.0 -4.0 -3.6 -2.4 -4.8 -10.5 Real effective exchange rate - euro area trading partners(3 year % change)1.4 -0.1 -1.5 -0.9 1.4 3.0 3.4 2.1 3.2 11.0 Export performance against advanced economies (5 year % change)19.6 28.5 8.6 -3.5 0.6 0.5 14.0 38.8 42.4 33.6 Terms of trade (5 year % change)-5.2 -0.5 1.4 4.0 4.9 3.7 3.7 2.9 -4.0 -11.3 Export market share in volume (1 year % change)3.7 -5.4 -0.7 2.6 8.0 3.0 8.8 7.7 6.1 7.3 Labour productivity (1 year % change)2.2 1.5 0.6 0.2 5.0 2.6 4.1 1.6 5.0 -2.5 Gross non-performing loans of domestic and foreign entities  (% of gross loans)9.6e6.8e5.6e4.0e3.2e2.6e1.7e2.2e1.2e0.9pUnit labour cost performance relative to EA (10 year % change)12.7 11.6 11.4 6.3 8.5 7.5 16.9 23.8 31.9 44.8 House price index - nominal (3 year % change)7.7 7.5 11.7 16.3 19.0 23.2 24.9 23.0 33.0 48.2 Residential construction (% of GDP)2.2 2.5 2.8 3.0 2.7 2.7 3.0 3.2 3.1 3.6 Household debt, consolidated (incl. NPISH, % of GDP)22.3 21.5 22.3 22.8 22.4 22.6 23.0 24.1 23.4 21.8 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)9.6e9.7e9.0e11.6e10.7e10.4e14.5e15.5e15.7e17.1pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.17 (continued): Auxiliary indicators for Lithuania 

155 

20132014201520162017201820192020202120221 year % change1.4 2.0 1.4 2.3 -0.7 1.4 0.6 -1.6 1.2 5.1 %72.4 73.7 74.1 75.5 75.9 77.3 78.0 78.5 78.2 78.6 %5.1 4.8 3.9 3.0 2.7 2.0 1.9 2.5 2.6 2.3 %21.9 19.3 16.3 14.5 13.3 11.1 11.9 19.6 14.3 11.9 %11.1 9.9 9.2 9.4 9.1 8.0 8.6 10.8 11.3 9.7 3 year change in pp-2.1 -1.9 -2.0 -1.7 -0.8 -1.2 -0.8 1.7 3.3 1.1 %nana29.4 30.0 29.8 28.5 25.5 24.5 23.5 24.6 3 year change in ppnanananana-0.9 -4.5 -5.3 -5.0 -0.9 %20.6 19.1 22.2 21.9 22.9 22.9 20.6 20.9 20.0 20.9 3 year change in pp0.1 -0.1 3.6 1.3 3.8 0.7 -1.3 -2.0 -2.9 0.3 %nana14.6 15.4 14.4 12.0 9.7 8.1 6.4 6.0 3 year change in ppnanananana-2.6 -5.7 -6.3 -5.6 -3.7 %nana9.1 10.2 9.4 9.2 7.6 7.2 8.1 8.3 3 year change in ppnanananana0.1 -2.6 -2.2 -1.1 0.7 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
 
Table 5.18: Auxiliary indicators for Luxembourg 

156 

Luxembourg2013201420152016201720182019202020212022Real GDP (1 year % change) 3.2 2.6 2.3 5.0 1.3 1.2 2.9 -0.9 7.2 1.4 Gross fixed capital formation (% of GDP)18.5 19.2 17.3 17.3 17.8 16.2 18.1 16.7 18.2 17.5 Gross domestic expenditure on R&D (% of GDP)1.2 1.2 1.3 1.3 1.2 1.2 1.2 1.1e1.0 naCurrent plus capital account (net lending-borrowing)(% of GDP)4.4 3.9 4.5 4.4 4.1 9.3 8.7 8.5 8.9 7.9 Net international investment position excluding non-defaultable instruments (% of GDP) -2546.8 -3277.8 -3587.5 -3550.5 -3726.1 -3533.7 -3971.1 -4063.1 -4598.7 -3753.7 Direct investment liabilities - flows (% of GDP)974.2 274.7 1106.8 92.9 -20.6 -830.1 -556.2 -178.5 -175.1 -568.7 Direct investment liabilities - stocks   (% of GDP)6123.9 7568.0 9525.6 9376.8 8610.3 7650.3 7011.6 6350.3 5786.3 5083.0 Net trade balance of energy products (% of GDP)-5.1 -4.2 -2.9 -2.3 -2.7 -3.3 -3.2 -2.0 -2.8 -4.6 Real effective exchange rate - euro area trading partners(3 year % change)1.7 0.8 0.1 -0.4 -0.1 0.4 0.9 0.0 0.6 -0.2 Export performance against advanced economies (5 year % change)15.5 17.1 20.2 23.1 20.0 9.1 7.9 22.1 21.7 3.0 Terms of trade (5 year % change)3.0 2.3 1.3 0.5 -0.2 -0.4 -1.9 -0.3 0.9 0.7 Export market share in volume (1 year % change)2.7 2.9 2.0 3.0 -5.7 -0.2 4.7 8.1 -0.6 -5.5 Labour productivity (1 year % change)1.3 0.1 -0.3 1.9 -2.1 -2.3 -0.6 -2.6 4.2 -1.9 Gross non-performing loans of domestic and foreign entities  (% of gross loans)13.9e1.4e1.1e0.8e0.7e0.8e0.6e0.7e0.6e1.2pUnit labour cost performance relative to EA (10 year % change)17.1 17.2 15.2 11.4 17.2 16.5 16.2 14.6 13.0 17.4 House price index - nominal (3 year % change)13.4 14.2 15.5 16.6 18.0 19.9 24.5 35.0 43.6 42.9 Residential construction (% of GDP)3.4 3.6 3.8 4.1 3.6 3.8 3.9 3.8 4.0 3.7 Household debt, consolidated (incl. NPISH, % of GDP)57.0 58.5 59.0 60.5 62.5 65.7 67.1 68.8 66.6 66.8 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)13.9e13.4e13.4e13.4e13.2e14.6e15.0e14.3e15.2e15.2pSource:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:e:Estimated. p:Provisional.  
 
 
 
 
Table 5.18 (continued): Auxiliary indicators for Luxembourg   

157 

20132014201520162017201820192020202120221 year % change1.8 2.5 2.6 3.0 3.5 3.6 3.5 1.8 2.9 3.4 %69.9 70.8 70.9b70.0 70.2 71.1 72.0 72.2 73.2 73.5 %1.8 1.6 1.9b2.2 2.1 1.4 1.3 1.7 1.8 1.3 %15.5 22.6 17.3b18.9 15.4 14.2 17.0 23.2 16.9 17.6 %5.0 6.3 6.2b5.4 5.9 5.3 5.6 6.5 8.7 6.7 3 year change in pp-0.1 1.6 0.3b0.4 -0.4 -0.9b0.2 0.6 3.4 1.1 %nana18.4 19.1b19.3 20.1 20.1 19.9b21.1b19.4b3 year change in ppnanananana1.7 1.0b0.6b1.0b-0.7b%15.9 16.4 15.3 15.8b16.4 16.7 17.5 17.4b18.1b17.4b3 year change in pp1.4 2.8 0.2 -0.1b0.0 1.4 1.7b1.0b1.4b-0.1b%nana2.5 2.0 1.9 1.6 1.4 1.7b2.4b2.0b3 year change in ppnanananana-0.9 -0.6 -0.2b0.8b0.6b%nana5.4 6.5 6.5 7.8 6.9 7.1b5.5b3.5b3 year change in ppnanananana2.4 0.4 0.6b-2.3b-3.4bPeople 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;bettercoverageofcertainsegmentsoftheresidentpopulationbyuseofLuxembourg'sNationalPopulationRegister;2020:b=changefromCAPItoCATImodeofdatacollection;2021:b=introductionofaCAWIcomponentfornewlyselectedhouseholds;2022:b=introductionofaCAPIcomponentforthenewlyselected households.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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
Table 5.19: Auxiliary indicators for Hungary 

158 

Hungary2013201420152016201720182019202020212022Real GDP (1 year % change) 1.8 4.2 3.7 2.2 4.3 5.4 4.9 -4.5 7.1 4.6pGross fixed capital formation (% of GDP)20.8 22.0 22.2 19.5 22.1 24.7 27.0 26.5 27.2 28.2pGross domestic expenditure on R&D (% of GDP)1.4 1.3 1.3 1.2 1.3 1.5b1.5 1.6 1.6 1.4 Current plus capital account (net lending-borrowing)(% of GDP)7.2 4.9 6.9 4.5 2.8 2.5 1.1 1.1 -1.6 -6.2 Net international investment position excluding non-defaultable instruments (% of GDP) -35.2 -29.5 -18.3 -12.0 -8.7 -3.9 -2.6 -2.5 -1.2 -5.3 Direct investment liabilities - flows (% of GDP)-2.6 9.5 -4.3 55.2 -8.2 -42.3 60.8 109.7 17.4 -5.4 Direct investment liabilities - stocks   (% of GDP)211.1 216.5 219.9 257.1 208.5 161.2 209.9 324.3 323.4 293.4 Net trade balance of energy products (% of GDP)-6.3 -6.1 -4.1 -3.1 -3.7 -3.8 -3.8 -2.3 -4.4 -9.9pReal effective exchange rate - euro area trading partners(3 year % change)-3.0 -7.0 -7.3 -5.3 0.4 -1.0 -0.6 -6.5 -4.4 -7.5 Export performance against advanced economies (5 year % change)-16.9 -10.8 -7.5 -4.2 7.1 5.6 2.8 7.5 1.4 0.1 Terms of trade (5 year % change)-1.1 -1.2 -0.5 1.5 2.1 0.6 0.3 1.6 -2.2 -7.2pExport market share in volume (1 year % change)0.5 5.6 4.3 1.5 1.0 1.2 4.1 1.4 -2.6 7.7pLabour productivity (1 year % change)0.5 -0.3 1.4 -1.5 2.3 3.0 3.7 -3.4 5.8 3.0pGross non-performing loans of domestic and foreign entities  (% of gross loans)10.7e19.4e15.2e11.9e8.4e5.4e4.2e3.6e3.2e3.1pUnit labour cost performance relative to EA (10 year % change)14.6 9.4 6.8 8.0 7.4 7.2 11.6 13.4 14.2 20.0 House price index - nominal (3 year % change)-9.4 -2.2 14.8 33.6 43.9 45.5 50.1 40.3 43.0 49.5pResidential construction (% of GDP)1.8 1.9 2.2 2.4 2.7 3.0 3.2 4.1 3.9 4.7pHousehold debt, consolidated (incl. NPISH, % of GDP)28.3 25.6 21.1 20.1 18.6 17.7 18.5 20.8 21.1 18.6pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)10.7e10.9e11.2e9.9e9.7e9.4e9.5e10.8e10.9e11.4pFlags:b:Break in series. e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.19 (continued): Auxiliary indicators for Hungary 

159 

20132014201520162017201820192020202120221 year % change1.3 4.6 2.2 3.7 1.9 2.3 1.1 -1.2 1.3 1.5p%66.7 68.8 70.5 72.1 73.1 74.1 74.7 75.1 76.2 77.2 %4.8 3.6 3.0 2.3 1.6 1.4 1.1 1.1 1.3 1.2 %26.1 20.1 17.1 12.7 10.5 9.9 11.2 12.5 13.5 10.6 %15.0 13.2 11.2 10.5 10.4 9.8 10.5 11.0 10.6 9.9 3 year change in pp3.0 0.5 -3.2 -4.5 -2.8 -1.4 0.0 0.6 0.8 -0.6 %nana30.6 28.6 25.9 20.6 20.0 19.4 19.4 18.4 3 year change in ppnanananana-10.0 -8.6 -6.5 -1.2 -1.6 %15.0 15.0 14.9 14.5 13.4 12.8 12.3 12.3 12.6 12.1 3 year change in pp2.7 0.9 0.6 -0.5 -1.6 -2.1 -2.2 -1.1 -0.2 -0.2 %nana24.1 20.6 16.1 11.9 10.9 10.7 10.2 9.1 3 year change in ppnanananana-12.2 -9.7 -5.4 -1.7 -1.8 %nana8.8 7.7 6.3 5.5 4.9 4.9 5.4 6.2 3 year change in ppnanananana-3.3 -2.8 -1.4 -0.1 1.3 People at risk of poverty or social exclusion - % of total populationFlags:p:Provisional. 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
 
Table 5.20: Auxiliary indicators for Malta 

160 

Malta2013201420152016201720182019202020212022Real GDP (1 year % change) 5.5 7.6 9.6 3.4 10.9 7.4 7.1 -8.1 12.3 6.9 Gross fixed capital formation (% of GDP)16.5 16.7 24.2 22.7 19.9 19.3 19.8 20.2p20.3p25.3pGross domestic expenditure on R&D (% of GDP)0.7 0.7 0.7 0.6 0.6 0.6 0.6 0.6 0.7 0.7 Current plus capital account (net lending-borrowing)(% of GDP)1.8 7.3 5.4 -0.2 6.5 7.2 9.8 2.8 2.2 -1.5 Net international investment position excluding non-defaultable instruments (% of GDP) 216.5 205.7 191.3 213.6 226.8 229.1 231.4 265.4 114.5 111.8 Direct investment liabilities - flows (% of GDP)5.4 2.7 32.8 23.9 28.7 29.1 27.3 29.9 26.3 127.7 Direct investment liabilities - stocks   (% of GDP)1898.1 1789.7 1662.6 1650.6 1532.6 1469.2 1404.9 1570.7 2764.8 2679.8 Net trade balance of energy products (% of GDP)-8.7 -14.4 -8.5 -8.1 -6.1 -8.6 -5.9 -5.8 -5.9 -8.1 Real effective exchange rate - euro area trading partners(3 year % change)0.1 0.7 0.8 1.9 1.2 0.3 0.0 0.7 -1.2 -3.9 Export performance against advanced economies (5 year % change)7.0 -6.2 11.3 15.4 20.5 16.1 31.0 31.1 18.2 6.5 Terms of trade (5 year % change)0.3 1.2 2.0 3.2 3.8 3.1 2.6 1.3 0.8 0.5 Export market share in volume (1 year % change)-2.7 -0.1 12.3 4.7 4.9 4.6 8.4 5.7 -3.4 1.9 Labour productivity (1 year % change)0.9 1.5 5.6 -1.1 2.7 1.3 1.3 -10.6 9.2 0.7 Gross non-performing loans of domestic and foreign entities  (% of gross loans)6.6e6.0e5.1e4.1e3.1e3.1e3.2e3.6e3.0e2.3pUnit labour cost performance relative to EA (10 year % change)6.8 4.2 5.8 8.0 7.2 14.0 15.9 24.7 13.6 11.7 House price index - nominal (3 year % change)1.2 5.2 8.1 14.4 17.5 17.5 18.2 16.1 15.3 15.9pResidential construction (% of GDP)2.6 2.5 2.9 3.6 3.6 4.2 4.4 4.5p4.5p4.3pHousehold debt, consolidated (incl. NPISH, % of GDP)57.1 54.8 50.7 50.3 47.3 46.6 55.0 61.0 58.5 55.7 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)6.6e11.9e14.1e15.8e13.5e12.2e11.2e10.7e12.6e12.6pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.20 (continued): Auxiliary indicators for Malta   

161 

20132014201520162017201820192020202120221 year % change4.5 6.1 3.8 4.5 8.0 6.0 5.7 2.8 2.9 6.2 %66.3 67.8 68.8 70.6 72.2 74.7 75.9 77.1 78.2 80.0 %3.5 2.9 2.7 2.4 2.0 1.8 0.9 1.1 0.9 1.0 %12.7 11.7 11.6 10.7 10.6 9.1 9.3 10.9 9.4 8.3 %9.9 10.3 10.5 8.8 8.6 7.3 8.6 9.3 9.8 7.1 3 year change in pp0.4 0.1 -0.3 -1.1 -1.7 -3.2 -0.2 0.7 2.5 -1.5 %nana22.2 20.2 19.4 19.2 20.7 19.9 20.3 20.1 3 year change in ppnanananana-3.0 0.5 0.5 1.1 -0.6 %15.8 15.8 16.6 16.5 16.7 16.8 17.1 16.9 16.9 16.7 3 year change in pp0.3 0.2 1.5 0.7 0.9 0.2 0.6 0.2 0.1 -0.4 %nana8.2 5.2 4.3 4.7 5.0 5.1 5.4 4.9 3 year change in ppnanananana-3.5 -0.2 0.8 0.7 -0.1 %nana9.2 6.8 6.6 5.3 4.9 5.4 5.3 3.8 3 year change in ppnanananana-3.9 -1.9 -1.2 0.0 -1.1 People at risk of poverty or social exclusion - % of total populationSource: 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
Table 5.21: Auxiliary indicators for Netherlands  

162 

Netherlands2013201420152016201720182019202020212022Real GDP (1 year % change) -0.1 1.4 2.0 2.2 2.9 2.4 2.0 -3.9 6.2 4.3pGross fixed capital formation (% of GDP)18.4 17.6 22.1 20.0 20.1 20.4 21.3 21.7 21.2 20.9pGross domestic expenditure on R&D (% of GDP)2.2b2.2 2.1 2.2 2.2 2.1 2.2 2.3 2.3 naCurrent plus capital account (net lending-borrowing)(% of GDP)9.9 8.4 4.7 6.9 8.9 9.3 6.9 5.1 12.2 20.3 Net international investment position excluding non-defaultable instruments (% of GDP) -66.9 -45.8 -53.4 -34.0 -18.9 -16.9 -1.6 10.3 21.4 18.5 Direct investment liabilities - flows (% of GDP)37.5 13.0 43.5 30.8 28.0 -37.4 -2.1 -22.1 -13.2 -1.7 Direct investment liabilities - stocks   (% of GDP)534.5 558.1 615.5 641.2 640.8 603.6 596.8 568.9 543.2 516.2 Net trade balance of energy products (% of GDP)-1.4 -1.6 -1.1 -0.6 -0.7 -1.4 -0.9 -0.4 -1.2 -1.2pReal effective exchange rate - euro area trading partners(3 year % change)1.3 1.3 0.8 -0.6 -0.7 -0.8 0.9 2.0 2.4 3.8 Export performance against advanced economies (5 year % change)-4.5 -5.0 -4.8 -5.1 -1.7 -0.9 -2.3 6.9 7.6 3.7 Terms of trade (5 year % change)-2.0 -3.0 -0.1 2.0 1.8 1.3 1.9 1.5 -0.2 -2.7pExport market share in volume (1 year % change)-1.1 0.9 4.3 -0.6 1.0 0.5 0.7 3.2 -2.9 -0.4pLabour productivity (1 year % change)1.1 1.5 1.0 0.6 0.5 -0.4 -0.3 -3.5 4.1p0.4pGross non-performing loans of domestic and foreign entities  (% of gross loans)20.8e3.4e2.7e2.4e2.1e1.9e1.8e1.9e1.4e1.3pUnit labour cost performance relative to EA (10 year % change)-1.2 -1.2 -1.6 -1.2 -2.5 -2.2 -2.0 2.7 1.2 0.5 House price index - nominal (3 year % change)-14.0 -11.6 -1.8 9.7 17.0 23.6 26.3 26.4 32.8 40.5 Residential construction (% of GDP)3.0 3.1 3.5 4.1 4.5 4.9 5.1 5.4 5.5 5.4pHousehold debt, consolidated (incl. NPISH, % of GDP)115.1 113.2 111.3 109.6 106.8 103.4 99.7 103.8 98.9 92.4pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)20.8e18.5e18.0e17.7e16.7e16.1e16.1e16.7e16.3e15.9pSource:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:b:Break in series. e:Estimated. p:Provisional.  
 
 
 
Table 5.21 (continued): Auxiliary indicators for Netherlands   

163 

20132014201520162017201820192020202120221 year % change-1.2 -0.1 1.0 1.5 2.4 2.7 2.3 -0.4 2.0p3.9p%81.9 81.5 82.1 82.2 82.2 82.7 83.4 83.4 83.7 84.7 %2.3 2.7 2.7 2.3 1.7 1.2 0.9 0.7 0.8 0.7 %14.2 13.8 12.5 12.1 10.4 8.9 8.5 10.6 9.3 7.6 %7.0 6.9 6.0 5.9 5.3 5.5 5.5 5.8 2.6 2.8 3 year change in pp0.8 1.3 -0.2 -1.1 -1.6 -0.5 -0.4 0.5 -2.9 -2.7 %nana16.4 16.3b16.6 16.5 16.5 16.0 16.6 16.5 3 year change in ppnanananana0.1 0.2b-0.6 0.1 0.0 %10.4 11.6 11.6 12.7b13.2 13.3 13.2 13.4 14.4 14.5 3 year change in pp0.1 0.6 1.5 2.3b1.6 1.7 0.5b0.2 1.1 1.3 %nana3.2 2.6 2.6 2.6 2.8 2.2 2.1 2.5 3 year change in ppnanananana-0.6 0.2 -0.4 -0.5 -0.3 %nana10.0 9.5 9.4 8.4 8.9 8.7 8.6 8.4 3 year change in ppnanananana-1.6 -0.6 -0.7 0.2 -0.5 People 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
Table 5.22: Auxiliary indicators for Austria 

164 

Austria2013201420152016201720182019202020212022Real GDP (1 year % change) 0.0 0.7 1.0 2.0 2.3 2.4 1.5 -6.6 4.2 4.8 Gross fixed capital formation (% of GDP)23.0 22.7 22.7 23.1 23.6 24.1 24.9 25.0 25.8 25.3 Gross domestic expenditure on R&D (% of GDP)3.0 3.1e3.1 3.1e3.1 3.1e3.1 3.2e3.3 3.2pCurrent plus capital account (net lending-borrowing)(% of GDP)1.8 2.4 1.2 2.6 1.3 0.3 2.4 3.3 1.6 -0.2 Net international investment position excluding non-defaultable instruments (% of GDP) -11.7 -11.3 -11.3 -9.4 -4.3 -6.2 -0.6 -4.1 -2.6 -1.5 Direct investment liabilities - flows (% of GDP)0.1 0.4 -2.1 -7.5 3.2 -6.6 -2.9 -2.7 3.8 2.1 Direct investment liabilities - stocks   (% of GDP)75.2 77.8 75.4 65.0 71.1 61.4 58.1 58.9 60.6 57.2 Net trade balance of energy products (% of GDP)-3.5 -3.0 -2.3 -1.9 -2.1 -2.5 -2.2 -1.4 -2.4 -4.4 Real effective exchange rate - euro area trading partners(3 year % change)1.6 1.6 2.1 2.1 1.8 1.6 1.1 1.5 1.1 0.7 Export performance against advanced economies (5 year % change)-12.2 -9.7 -7.3 -5.0 -0.7 0.3 -0.9 5.2 0.3 -1.2 Terms of trade (5 year % change)-1.9 -2.7 0.4 3.2 2.5 2.0 0.4 -0.3 -1.9 -4.5 Export market share in volume (1 year % change)-3.0 -0.7 -0.1 0.7 -0.6 1.4 2.8 -3.1 -1.8 6.3 Labour productivity (1 year % change)-0.3 -0.3 0.4 0.7 0.6 0.7 0.4 -5.1 2.2 2.1 Gross non-performing loans of domestic and foreign entities  (% of gross loans)13.4e7.5e6.5e5.1e3.5e2.6e2.2e2.0e1.8e1.8pUnit labour cost performance relative to EA (10 year % change)3.5 5.6 6.4 6.0 6.1 5.8 5.7 7.4 7.3 5.1 House price index - nominal (3 year % change)19.9 16.8 14.2 17.8 19.9 19.6 16.6 19.3 28.1 34.9 Residential construction (% of GDP)4.3 4.3 4.3 4.3 4.5 4.5 4.7 5.0 5.4 5.6 Household debt, consolidated (incl. NPISH, % of GDP)51.2 51.0 50.8 51.1 50.3 49.7 49.7 53.2 52.2 48.7 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)13.4e14.2e13.5e12.5e11.6e11.4e11.2e11.9e11.8e11.1pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.22 (continued): Auxiliary indicators for Austria 

165 

20132014201520162017201820192020202120221 year % change0.3 1.0 0.6 1.3 1.6 1.7 1.1 -1.6 2.0 2.6 %75.8 75.7 75.8 76.6 76.8 77.1 77.3 76.4 77.2 77.8 %1.6 1.9 2.0 2.4 2.3 1.7 1.4 1.7 2.0 1.2 %10.3 11.0 11.3 12.0 10.5 10.0 9.1 11.7 11.0 9.5 %8.0 8.4 8.2 8.4 7.1 7.5 7.8 8.6 8.5 8.1 3 year change in pp-0.1 0.4 0.8 0.4 -1.3 -0.7 -0.6 1.5 1.0 0.3 %nana16.9 17.2 17.1 16.8 16.5 16.7 17.3 17.5 3 year change in ppnanananana-0.1 -0.7 -0.4 0.5 1.0 %14.4 14.1 13.9 14.1 14.4 14.3 13.3 13.9 14.7 14.8 3 year change in pp-0.3 -0.4 -0.5 -0.3 0.3 0.4 -0.8 -0.5 0.4 1.5 %nana2.9 3.3 3.4 2.8 2.7 3.0 1.8 2.3 3 year change in ppnanananana-0.1 -0.6 -0.4 -1.0 -0.4 %nana6.3 7.0 7.2 6.4 6.6 6.1 7.4 5.7 3 year change in ppnanananana0.1 -0.4 -1.1 1.0 -0.9 People at risk of poverty or social exclusion - % of total populationSource: 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
 
Table 5.23: Auxiliary indicators for Poland 

166 

Poland2013201420152016201720182019202020212022Real GDP (1 year % change) 0.9 3.8 4.4 3.0 5.1 5.9 4.4 -2.0 6.9 5.3 Gross fixed capital formation (% of GDP)19.0 20.1 20.4 18.5 17.6 18.7 18.9 18.3 16.8 16.8 Gross domestic expenditure on R&D (% of GDP)0.9 1.0 1.0 1.0 1.0 1.2 1.3 1.4 1.4 1.5pCurrent plus capital account (net lending-borrowing)(% of GDP)-0.2 -1.0 1.3 0.0 0.0 -0.3 1.4 4.2 -0.6 -1.9 Net international investment position excluding non-defaultable instruments (% of GDP) -26.2 -25.5 -24.1 -20.8 -18.8 -14.9 -10.7 -4.5 0.7 2.7 Direct investment liabilities - flows (% of GDP)0.2 3.8 3.3 3.8 2.2 3.2 2.9 3.1 5.3 5.3 Direct investment liabilities - stocks   (% of GDP)50.8 52.1 48.5 50.9 49.8 48.4 47.6 49.2 50.1 46.0 Net trade balance of energy products (% of GDP)-2.7 -2.6 -1.6 -1.4 -2.0 -2.7 -2.4 -1.6 -2.0 -3.4 Real effective exchange rate - euro area trading partners(3 year % change)-3.3 -1.5 -2.1 -5.7 -3.2 -3.0 1.6 -1.0 -0.6 0.5 Export performance against advanced economies (5 year % change)5.1 8.6 7.4 11.4 20.0 19.3 19.5 33.7 29.0 21.0 Terms of trade (5 year % change)-0.2 -1.4 2.8 4.9 6.4 4.4 3.7 3.8 1.2 -2.6 Export market share in volume (1 year % change)1.5 1.9 3.5 6.7 3.5 3.0 4.0 6.4 1.4 1.8 Labour productivity (1 year % change)0.9 2.1 2.8 2.1 3.8 5.4 4.5 -2.0 4.3 4.8pGross non-performing loans of domestic and foreign entities  (% of gross loans)9.0e7.2e6.6e6.4e6.6e6.2e6.1e6.0e5.0e4.3pUnit labour cost performance relative to EA (10 year % change)2.5 3.9 3.1 5.9 4.8 0.5 5.9 3.6 3.2 8.2 House price index - nominal (3 year % change)-7.6 -6.8 -2.0 4.4 7.4 12.7 20.3 28.0 31.1 34.8 Residential construction (% of GDP)3.0 3.1 2.6 2.5 2.2 2.0 2.1 2.2 2.3 2.2 Household debt, consolidated (incl. NPISH, % of GDP)35.6 36.0 36.1 36.8 35.0 35.0 34.4 34.6 32.2 26.6 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)9.0e9.3e9.2e9.4e8.8e9.3e9.7e10.5e12.9e13.5pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.23 (continued): Auxiliary indicators for Poland  

167 

20132014201520162017201820192020202120221 year % change-0.1 1.7 1.5 0.8 1.3 0.5 0.0 0.0 2.5 0.4p%65.4 66.4 66.8 67.8 68.7 69.4 69.9 70.1 72.8 73.5 %4.5 3.9 3.0 2.2 1.5 1.0 0.7 0.6 0.9 0.9 %27.6 24.1 21.0 17.8 14.9 11.8 9.9 10.9 11.9 10.8 %12.5 12.2 11.2 10.8 9.7 8.8 8.2 8.8 11.2 8.0 3 year change in pp1.5b0.4 -0.9 -1.7 -2.5 -2.4 -2.6 -0.9 2.4 -0.2 %nana22.5 20.6 18.7 18.2 17.9 17.0 16.8 15.9 3 year change in ppnanananana-4.3 -2.7 -1.7 -1.4 -2.0 %17.3 17.0 17.6 17.3 15.0 14.8 15.4 14.8 14.8 13.7 3 year change in pp-0.3 -0.7 0.5 0.0 -2.0 -2.8 -1.9 -0.2 0.0 -1.7 %nana7.8 5.4 5.3 4.5 3.5 2.6 2.9 2.8 3 year change in ppnanananana-3.3 -1.9 -2.7 -1.6 -0.7 %nana6.9 6.6 5.8 5.7 5.0 4.3 4.2 3.8 3 year change in ppnanananana-1.2 -1.6 -1.5 -1.5 -1.2 PolandEmploymentActivity 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. p:Provisional. Source: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
Table 5.24: Auxiliary indicators for Portugal 

168 

Portugal2013201420152016201720182019202020212022Real GDP (1 year % change) -0.9 0.8 1.8 2.0 3.5 2.8 2.7 -8.3 5.7 6.8pGross fixed capital formation (% of GDP)14.8 15.0 15.5 15.5 16.8 17.5 18.1 19.2 20.2 20.1pGross domestic expenditure on R&D (% of GDP)1.3 1.3 1.2 1.3 1.3 1.4 1.4 1.6 1.7 1.7pCurrent plus capital account (net lending-borrowing)(% of GDP)3.3 1.5 1.5 2.1 2.2 1.5 1.3 -0.1 1.0 -0.2 Net international investment position excluding non-defaultable instruments (% of GDP) -78.1 -77.7 -72.3 -64.2 -58.4 -55.3 -46.7 -46.7 -36.3 -29.6 Direct investment liabilities - flows (% of GDP)6.9 5.3 0.6 3.6 4.9 3.2 4.3 1.7 3.3 3.8 Direct investment liabilities - stocks   (% of GDP)77.4 81.5 81.0 80.2 83.0 79.6 81.1 85.8 85.9 80.3 Net trade balance of energy products (% of GDP)-3.7 -3.6 -2.3 -1.6 -2.2 -2.5 -2.5 -1.7 -2.7 -4.8pReal effective exchange rate - euro area trading partners(3 year % change)0.1 -1.2 -1.1 0.3 0.8 -0.3 -1.6 -1.9 -3.0 -2.5 Export performance against advanced economies (5 year % change)-1.0 -0.6 2.9 2.9 10.6 5.9 6.1 -1.5 -2.0 1.8 Terms of trade (5 year % change)3.9 0.1 4.7 8.4 6.9 4.5 4.3 2.5 -0.2 -3.0pExport market share in volume (1 year % change)3.6 0.7 3.2 2.1 2.9 0.3 2.8 -11.1 1.4 12.5pLabour productivity (1 year % change)2.0 -0.6 0.4 0.4 0.2 0.5 1.9 -6.6 3.7 5.2pGross non-performing loans of domestic and foreign entities  (% of gross loans)14.8e16.6e17.5e17.2e13.3e9.4e6.1e4.9e3.6e3.0pUnit labour cost performance relative to EA (10 year % change)-8.5 -9.8 -11.7 -10.9 -8.9 -6.3 -4.9 -1.4 1.4 4.4 House price index - nominal (3 year % change)-13.3 -4.9 5.4 15.1 20.6 29.0 32.4 31.9 30.9 34.0 Residential construction (% of GDP)2.5 2.5 2.4 2.6 2.8 3.1 3.2 3.4 3.9 3.9pHousehold debt, consolidated (incl. NPISH, % of GDP)86.1 81.9 77.0 72.6 69.2 66.0 63.5 69.1 66.3 60.7pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)14.8e13.7e12.4e12.9e10.6e11.0e10.8e11.4e12.0e12.3pFlags:e:Estimated. p:Provisional. Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.24 (continued): Auxiliary indicators for Portugal 

169 

20132014201520162017201820192020202120221 year % change-2.9 1.4 1.4 1.6 3.3 2.3 0.8 -1.8 2.0 1.5p%71.2 71.8 72.3 72.7 73.8 74.5 74.9 73.8 75.2 76.4 %9.7 8.7 7.5 6.4 4.6 3.2 2.8 2.3 2.9 2.7 %38.3 34.8 32.0 28.0 23.9 20.3 18.3 22.5 23.4 19.0 %14.1 12.3 11.3 10.6 9.3 8.4 8.0 9.1 7.6 6.6 3 year change in pp2.5 -0.3 -2.6 -3.5 -3.0 -2.9 -2.6 -0.2 -0.8 -1.4 %nana26.4 24.9 23.4 21.6 21.1 20.0 22.4 20.1 3 year change in ppnanananana-4.8 -3.8 -3.4 0.8 -1.0 %18.7 19.5 19.5 19.0 18.3 17.3 17.2 16.2 18.4 16.4 3 year change in pp0.8 1.5 1.6 0.3 -1.2 -2.2 -1.8 -2.1 1.1 -0.8 %nana10.9 9.1 8.0 6.6 5.6 5.4 6.0 5.3 3 year change in ppnanananana-4.3 -3.5 -2.6 -0.6 -0.3 %nana10.2 8.5 7.7 6.9 6.2 5.0 5.3 5.6 3 year change in ppnanananana-3.3 -2.3 -2.7 -1.6 -0.6 EmploymentActivity 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64People at risk of poverty or social exclusion - % of total populationFlags:p:Provisional. Source: European Commission, EurostatPortugal 
 
 
 
 
 
 
 
 
 
 
Table 5.25: Auxiliary indicators for Romania 

170 

Romania2013201420152016201720182019202020212022Real GDP (1 year % change) 0.3 4.1 3.2 2.9 8.2 6.0 3.9 -3.7 5.7 4.6pGross fixed capital formation (% of GDP)24.4 24.4 24.9 23.1 22.8 21.4 23.0 23.5 24.3 24.9pGross domestic expenditure on R&D (% of GDP)0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 Current plus capital account (net lending-borrowing)(% of GDP)1.2 2.4 1.6 0.9 -1.9 -3.4 -3.6 -3.1 -5.1 -6.7 Net international investment position excluding non-defaultable instruments (% of GDP) -20.5 -14.5 -12.9 -6.5 -5.6 -3.9 -4.0 -7.0 -6.5 -4.2 Direct investment liabilities - flows (% of GDP)2.0 1.9 2.4 3.4 2.8 3.0 2.9 1.4 4.1 3.8 Direct investment liabilities - stocks   (% of GDP)45.3 44.9 44.3 46.1 44.8 43.3 44.1 45.9 46.3 42.2 Net trade balance of energy products (% of GDP)-1.9 -1.4 -0.9 -1.0 -1.3 -1.6 -1.7 -1.2 -2.0 -2.8pReal effective exchange rate - euro area trading partners(3 year % change)0.7 -1.3 2.2 -2.8 -5.2 -4.1 -1.2 1.0 0.2 2.3 Export performance against advanced economies (5 year % change)22.9 29.8 23.9 22.0 34.0 20.5 15.0 19.9 14.3 10.7 Terms of trade (5 year % change)2.7 3.7 5.7 3.6 5.1 5.2 4.8 5.4 5.6 3.9pExport market share in volume (1 year % change)17.0 4.9 1.5 14.0 2.3 1.5 4.1 -2.0 1.7 4.7pLabour productivity (1 year % change)1.2 3.3 4.5 4.0 5.7 5.9 3.7 -1.7 4.9 3.4pGross non-performing loans of domestic and foreign entities  (% of gross loans)9.7e20.7e13.4e9.7e6.6e5.0e4.3e3.9e3.4e2.8pUnit labour cost performance relative to EA (10 year % change)47.4 48.7 21.0 26.1 35.7 19.3 33.1 25.5 30.3 33.1 House price index - nominal (3 year % change)-17.0 -7.3 0.5 6.7 15.6 18.6 15.8 14.3 13.0 17.1 Residential construction (% of GDP)2.4 2.4 2.4 2.6 2.7 2.1 2.3 2.4 3.1 2.7pHousehold debt, consolidated (incl. NPISH, % of GDP)19.3 18.0 17.4 17.0 16.3 15.7 15.4 16.1 15.8 13.9pConsolidated banking leverage, domestic and foreign entities (total assets/total equity)9.7e10.5e9.8e9.8e9.6e9.3e9.1e9.1e10.2e11.2pSource:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:e:Estimated. p:Provisional.  
 
 
 
 
Table 5.25 (continued): Auxiliary indicators for Romania 

171 

20132014201520162017201820192020202120221 year % change-0.9 0.8 -1.3 -1.1 2.4 0.1 0.1 -2.1 0.8 1.2p%57.9 58.8 59.9 60.2 61.8 62.4 63.3 64.1 65.6 66.8 %3.9 3.4 3.6 3.4 2.4 2.2 2.0 1.8 2.0 2.2 %29.6 30.0 27.3 25.9 23.0 20.5 21.0 21.6 21.0 22.8 %21.4 21.4 22.8 21.3 19.1 18.3 18.4 18.4 18.0 17.5 3 year change in pp0.0 -0.2 1.6 -0.1 -2.3 -4.5 -2.9 -0.7 -0.3 -0.9 %nana44.5 46.0 42.5 38.7 36.1 35.6 34.5 34.4 3 year change in ppnanananana-5.8 -9.9 -6.9 -4.2 -1.7 %23.0 25.1 25.4 25.3 23.6 23.5 23.8 23.4 22.5 21.2 3 year change in pp1.4 2.8 2.5 2.3 -1.5 -1.9 -1.5 -0.2 -1.0 -2.6 %nana34.0 35.9 32.4 28.3 24.5 25.3 23.1 24.3 3 year change in ppnanananana-5.7 -11.4 -7.1 -5.2 -0.2 %nana6.2 6.4 5.4 6.0 4.5 4.7 3.5 4.2 3 year change in ppnanananana-0.2 -1.9 -0.7 -2.5 -0.3 People at risk of poverty or social exclusion - % of total populationFlags: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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
 
Table 5.26: Auxiliary indicators for Slovenia 

172 

Slovenia2013201420152016201720182019202020212022Real GDP (1 year % change) -1.0 2.8 2.2 3.2 4.8 4.5 3.5 -4.2 8.2 2.5 Gross fixed capital formation (% of GDP)19.6 19.1 18.7 17.4 18.3 19.3 19.6 18.9 20.2 21.6 Gross domestic expenditure on R&D (% of GDP)2.6 2.4 2.2 2.0 1.9 1.9 2.0 2.1 2.1 naCurrent plus capital account (net lending-borrowing)(% of GDP)3.7 5.3 4.9 4.0 5.5 5.4 5.4 6.7 3.6 -1.4 Net international investment position excluding non-defaultable instruments (% of GDP) -32.8 -28.5 -19.0 -14.7 -9.6 -1.0 0.7 1.4 9.4 15.2 Direct investment liabilities - flows (% of GDP)0.2 2.0 4.0 3.2 2.5 2.8 4.0 0.9 3.6 3.6 Direct investment liabilities - stocks   (% of GDP)28.9 31.5 34.4 37.1 37.9 39.2 40.3 43.0 44.0 43.2 Net trade balance of energy products (% of GDP)-5.5 -4.1 -3.1 -2.1 -2.6 -2.9 -3.5 -2.0 -2.8 -3.8 Real effective exchange rate - euro area trading partners(3 year % change)0.1 0.5 -0.8 -1.7 -1.6 -0.5 0.4 -0.1 -0.9 -1.0 Export performance against advanced economies (5 year % change)-12.1 -6.7 -2.9 1.2 14.4 16.6 13.4 19.7 15.3 6.8 Terms of trade (5 year % change)-2.3 -4.6 0.6 2.9 3.4 2.5 2.0 1.4 -1.5 -4.0 Export market share in volume (1 year % change)-0.5 2.4 1.6 3.9 5.6 2.4 3.2 -1.0 3.6 2.3 Labour productivity (1 year % change)0.1 2.3 0.9 1.3 1.9 1.2 1.1 -3.6 6.8 -0.4 Gross non-performing loans of domestic and foreign entities  (% of gross loans)11.3e22.8e17.9e12.3e9.2e6.0e3.4e3.0e2.1e1.8pUnit labour cost performance relative to EA (10 year % change)8.1 3.3 2.7 3.0 2.2 0.0 -1.4 -0.2 2.4 1.7 House price index - nominal (3 year % change)-9.4 -17.6 -10.8 -2.8 12.7 21.6 25.6 21.4 24.5 33.9 Residential construction (% of GDP)2.4 2.2 2.1 2.1 2.1 2.1 2.2 2.3 2.4 2.8 Household debt, consolidated (incl. NPISH, % of GDP)29.6 28.3 27.6 27.3 27.1 26.9 26.8 27.7 26.3 25.9 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)11.3e9.3e8.6e8.0e8.0e8.2e8.2e9.3e9.6e10.0pSource:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:e:Estimated. p:Provisional.  
 
 
 
 
Table 5.26 (continued): Auxiliary indicators for Slovenia 

173 

20132014201520162017201820192020202120221 year % change-1.1 0.4 1.3 1.8 2.9 3.2 2.4 -0.7 1.3 2.9 %70.0 70.4 71.2 71.1 73.6 74.4 74.6 73.8 75.0 76.2 %5.2 5.3 4.7 4.3 3.1 2.2 1.9 1.9 1.9 1.6 %21.6 20.5 16.4 15.3 11.3 8.9 8.1 14.3 12.8 10.1 %8.5 8.6 8.7 7.4 6.0 6.0 6.3 6.9 6.6 8.2 3 year change in pp1.9 2.1 0.2 -1.1 -2.6 -2.7 -1.1 0.9 0.6 1.9 %nana17.7 16.9 16.6 15.4 13.7 14.3 13.2 13.3 3 year change in ppnanananana-2.3 -3.2 -2.3 -2.2 -0.4 %14.5 14.5 14.3 13.9 13.3 13.3 12.0 12.4 11.7 12.1 3 year change in pp1.8 0.9 0.8 -0.6 -1.2 -1.0 -1.9 -0.9 -1.6 0.1 %nana4.8 4.1 4.5 3.2 2.2 2.6 1.8 1.4 3 year change in ppnanananana-1.6 -1.9 -1.9 -1.4 -0.8 %nana5.8 6.0 5.2 4.4 4.3 3.9 3.6 3.8 3 year change in ppnanananana-1.4 -1.7 -1.3 -0.8 -0.5 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64People at risk of poverty or social exclusion - % of total populationSource: European Commission, Eurostat 
 
 
 
 
 
 
 
 
 
 
Table 5.27: Auxiliary indicators for Slovakia 

174 

Slovakia2013201420152016201720182019202020212022Real GDP (1 year % change) 0.6 2.7 5.2 1.9 2.9 4.0 2.5 -3.3 4.8 1.8 Gross fixed capital formation (% of GDP)20.5 20.5 23.7 21.0 21.1 20.9 21.5 19.5 19.2 20.1 Gross domestic expenditure on R&D (% of GDP)0.8 0.9 1.2 0.8 0.9 0.8 0.8 0.9 0.9 1.0 Current plus capital account (net lending-borrowing)(% of GDP)3.3 2.1 1.1 -1.0 -1.8 -1.2 -2.6 1.3 -2.8 -6.2 Net international investment position excluding non-defaultable instruments (% of GDP) -10.5 -13.0 -13.9 -14.7 -15.1 -16.6 -14.1 -14.8 -14.4 -18.2 Direct investment liabilities - flows (% of GDP)1.0 -0.4 1.7 5.3 4.4 2.1 2.2 -1.0 2.3 3.5 Direct investment liabilities - stocks   (% of GDP)64.5 61.9 62.5 70.7 71.3 70.7 69.6 70.0 66.7 62.0 Net trade balance of energy products (% of GDP)-5.9 -4.0 -3.0 -2.5 -2.9 -3.9 -3.1 -2.1 -3.5 -6.6 Real effective exchange rate - euro area trading partners(3 year % change)2.5 0.5 -1.5 -2.2 -1.7 -0.4 1.9 3.8 3.1 4.7 Export performance against advanced economies (5 year % change)3.3 9.2 6.2 5.0 1.9 -0.4 -0.8 7.5 2.3 -3.1 Terms of trade (5 year % change)-4.9 -3.7 -3.2 -2.3 -1.6 -1.7 -2.0 -2.1 -2.6 -5.9 Export market share in volume (1 year % change)2.4 0.1 3.5 2.7 -1.8 1.3 -0.5 1.2 -0.4 -1.9 Labour productivity (1 year % change)1.4 1.3 3.1 -0.4 0.7 2.0 1.5 -1.5 5.4 0.0 Gross non-performing loans of domestic and foreign entities  (% of gross loans)8.2e5.2e4.4e4.6e3.7e3.2e2.9e2.5e2.0e1.7pUnit labour cost performance relative to EA (10 year % change)4.1 2.0 -1.0 -0.6 3.9 4.9 6.4 9.4 10.0 14.2 House price index - nominal (3 year % change)-3.3 -0.4 7.8 14.0 19.0 21.3 24.1 28.4 27.2 32.5 Residential construction (% of GDP)3.2 2.6 2.5 3.1 3.1 3.3 3.3 3.8 4.0 4.3 Household debt, consolidated (incl. NPISH, % of GDP)29.6 32.4 34.3 38.2 40.9 42.2 43.5 46.5 47.0 47.1 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)8.2e8.4e9.0e9.2e9.3e9.5e9.6e9.7e10.4e10.7pSource:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:e:Estimated. p:Provisional.  
 
 
 
 
Table 5.27 (continued): Auxiliary indicators for Slovakia 

175 

20132014201520162017201820192020202120221 year % change-0.8 1.4 2.0 2.4 2.2 2.0 1.0 -1.9 -0.6 1.8 %71.8 72.2 72.9 73.9 74.1 74.4 74.7 74.5 74.6 76.1 %11.6 10.7 8.8 6.8 5.9 4.7 3.9 3.7 3.9 4.1 %34.9 31.0 27.7 23.4 20.0 15.8 17.1 20.4 20.6 19.9 %14.0 13.0 14.0 12.4 12.2 10.3 10.4 10.8 11.0 9.6 3 year change in pp-0.3 -1.1b-0.1 -1.6 -0.8 -3.7 -2.0 -1.4 0.7 -0.8 %nana17.3 17.1 15.8 15.2 14.8 13.8 15.6 16.5 3 year change in ppnanananana-2.1 -2.3 -2.0 0.4 1.7 %12.8 12.6 12.3 12.7 12.4 12.2 11.9 11.4 12.3 13.7 3 year change in pp0.8 -0.4 -0.9 -0.1 -0.2 -0.1 -0.8 -1.0 0.1 1.8 %nana8.4 7.6 6.3 5.4 5.9 4.5 5.7 6.3 3 year change in ppnanananana-3.0 -1.7 -1.8 0.3 0.4 %nana7.0 6.4 5.3 5.2 6.3 4.3 4.9 3.8 3 year change in ppnanananana-1.8 -0.1 -1.0 -0.3 -2.5 People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64 
 
 
 
 
 
 
 
 
 
 
Table 5.28: Auxiliary indicators for Finland 

176 

Finland2013201420152016201720182019202020212022Real GDP (1 year % change) -0.9 -0.4 0.5 2.8 3.2 1.1 1.2 -2.4 3.2 1.6 Gross fixed capital formation (% of GDP)22.0 21.5 21.2 22.7 23.3 24.1 23.8 24.0 23.6 24.2 Gross domestic expenditure on R&D (% of GDP)3.3 3.1 2.9 2.7 2.7 2.8 2.8 2.9 3.0 3.0 Current plus capital account (net lending-borrowing)(% of GDP)-1.7 -1.2 -0.9 -1.9 -0.7 -1.8 -0.2 0.6 0.5 -2.5 Net international investment position excluding non-defaultable instruments (% of GDP) -4.6 0.1 15.2 10.2 4.8 -0.8 6.9 5.8 18.3 6.3 Direct investment liabilities - flows (% of GDP)-1.9 6.4 7.4 2.1 6.9 -3.9 5.8 -0.8 8.0 4.8 Direct investment liabilities - stocks   (% of GDP)46.6 52.0 57.3 54.5 56.8 46.6 51.0 49.9 51.8 51.0 Net trade balance of energy products (% of GDP)-3.1 -2.8 -1.8 -1.4 -1.6 -2.0 -1.7 -0.9 -1.9 -3.5 Real effective exchange rate - euro area trading partners(3 year % change)1.9 2.0 0.9 0.3 -1.2 -1.4 -1.7 -0.9 -1.0 -2.7 Export performance against advanced economies (5 year % change)-27.3 -22.1 -21.5 -17.6 -8.0 -6.4 1.0 11.3 8.2 1.7 Terms of trade (5 year % change)-2.7 -3.2 1.9 3.2 3.8 3.8 2.5 1.0 1.3 1.1 Export market share in volume (1 year % change)-3.0 -5.6 -2.7 1.6 3.3 -2.3 5.4 -0.3 -5.1 -1.2 Labour productivity (1 year % change)-0.1 0.1 0.6 2.3 2.1 -1.3 -0.2 -0.4 1.0 -1.3 Gross non-performing loans of domestic and foreign entities  (% of gross loans)21.7e1.6e1.5e1.4e1.2e1.5e1.4e1.5e1.2e1.0pUnit labour cost performance relative to EA (10 year % change)8.7 9.5 8.7 5.6 2.8 1.4 -2.7 -5.5 -4.4 -7.1 House price index - nominal (3 year % change)6.9 3.2 0.8b0.9 2.4 3.3 2.4 3.1 6.9 7.7 Residential construction (% of GDP)6.4 6.0 6.0 6.6 6.8 7.2 7.0 7.0 7.0 7.2 Household debt, consolidated (incl. NPISH, % of GDP)61.5 62.5 63.3 64.1 64.4 65.2 65.8 69.0 67.9 65.3 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)21.7e24.3e19.1e17.7e18.9e16.1e16.6e16.0e16.2e17.4pFlags:b:Break in series. e:Estimated. p:Provisional. 1) House price index: 2015, b = break in time series due to new calculation method for new dwellings (apartments)Source:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services) 
 
 
 
 
Table 5.28 (continued): Auxiliary indicators for Finland 

177 

20132014201520162017201820192020202120221 year % change-0.8 -0.4 -0.1 0.5 1.0 2.5 1.5 -2.0 2.2 2.9 %74.4 74.6 74.8 75.0 75.8 77.0 77.3 77.3 78.8 79.8 %2.1 2.4 2.9 2.9 2.6 2.0 1.5 1.5 1.8 1.5 %20.6 20.5 22.5 20.5 20.0 17.3 17.7 21.0 17.1 14.2 %8.5 9.2 9.7 9.1 8.6 7.9 7.5 8.4 7.6 7.6 3 year change in pp0.2 1.4 1.8 0.6 -0.6 -1.8 -1.6 -0.2 -0.3 0.1 %nana16.9 16.5 16.0 16.6 14.5b14.9 14.2 16.3b3 year change in ppnanananana-0.3 -2.0b-1.1 -2.4 1.8b%11.8 12.8 12.4 11.6 11.5 12.0 11.6 12.2 10.8 12.7 3 year change in pp-1.3 -0.9 -0.8 -0.2 -1.3 -0.4 0.0 0.7 -1.2 1.1 %nana1.0 1.2 1.8 2.2 1.9 1.8 1.1 1.9 3 year change in ppnanananana1.2 0.7 0.0 -1.1 0.0 %nana11.5 12.1 11.4 11.1 8.1b8.3 8.6 10.1b3 year change in ppnanananana-0.4 -4.0b-3.1 -2.5 2.0bPeople at risk of poverty after social transfers - % of total populationSeverely materially and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1) 2022: disruption of the registers' use for the definition of persons permanently disable or/and unable to work (indicators affected: People living in households with very low work intensity and, as a consequence, People at risk of poverty or social exclusion).Source: 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 5.29: Auxiliary indicators for Sweden 

178 

Sweden2013201420152016201720182019202020212022Real GDP (1 year % change) 1.2 2.7 4.5 2.1 2.6 2.0 2.0 -2.2 6.1 2.8 Gross fixed capital formation (% of GDP)22.4 23.2 23.8 24.2 25.1 25.2 24.4 25.1 25.6 27.1 Gross domestic expenditure on R&D (% of GDP)3.3e3.1e3.2 3.2e3.4 3.3 3.4 3.5 3.4 3.4 Current plus capital account (net lending-borrowing)(% of GDP)5.0 4.1 3.0 2.2 2.7 2.5 5.4 5.9 6.8 4.9 Net international investment position excluding non-defaultable instruments (% of GDP) -22.3 -21.1 -12.3 -12.1 -9.5 -14.9 -11.0 -12.6 -3.0 -9.8 Direct investment liabilities - flows (% of GDP)0.2 -1.7 2.0 2.9 4.5 -0.2 3.1 3.5 8.4 9.0 Direct investment liabilities - stocks   (% of GDP)89.5 83.4 83.9 85.3 88.1 85.8 89.7 92.6 98.2 95.6 Net trade balance of energy products (% of GDP)-1.5 -1.3 -0.8 -0.8 -0.9 -1.3 -1.1 -0.7 -0.7 -1.2 Real effective exchange rate - euro area trading partners(3 year % change)5.9 -3.8 -7.9 -7.9 -4.0 -7.6 -9.8 -7.4 1.7 -1.1 Export performance against advanced economies (5 year % change)-10.3 -3.5 -8.5 -11.3 -8.4 -9.0 -4.9 3.2 5.3 0.9 Terms of trade (5 year % change)0.2 -0.8 0.3 1.3 0.4 -1.1 -0.8 -0.5 -0.4 -2.4 Export market share in volume (1 year % change)-4.7 0.8 2.7 0.1 -1.4 0.4 4.7 2.0 0.2 2.1 Labour productivity (1 year % change)0.2 1.2 3.0 0.2 0.1 0.3 1.4 -0.8 4.9 0.1 Gross non-performing loans of domestic and foreign entities  (% of gross loans)21.3e1.3e1.3e1.2e1.3e1.0e1.1e1.0e1.0e0.8pUnit labour cost performance relative to EA (10 year % change)3.8 5.7 5.6 7.5 5.9 5.9 5.2 5.8 4.1 1.4 House price index - nominal (3 year % change)9.2 16.5 30.2 34.0 30.6 14.4 8.3 5.8 17.6 18.8 Residential construction (% of GDP)3.6 4.2 4.7 5.3 5.7 5.2 4.7 4.9 5.3 5.4 Household debt, consolidated (incl. NPISH, % of GDP)81.2 82.1 82.4 85.7 87.2 88.1 88.5 93.7 91.9 87.4 Consolidated banking leverage, domestic and foreign entities (total assets/total equity)21.3e20.6e18.8e17.6e16.5e18.1e17.9e17.6e16.4e16.3pSource:EuropeanCommission,EurostatandDirectorateGeneralforEconomicandFinancialAffairs(forRealEffectiveExchangeRate),EuropeanCentralBank(forConsolidatedbankingleverageandGrossnon-performingloans,domesticandforeign entities), and International Monetary Fund data, WEO (for world volume exports of goods and services)Flags:e:Estimated. p:Provisional.  
 
 
 
 
Table 5.29 (continued): Auxiliary indicators for Sweden 

179 

20132014201520162017201820192020202120221 year % change1.0 1.4 1.5 1.9 2.5 1.6 0.6 -1.3 1.2 2.7 %80.7 81.1 81.4 81.7 82.1 82.3b82.5 82.1 82.9 83.5 %2.3 2.3 2.3 2.0 2.0 1.7b1.5 1.8 2.0 1.9 %22.9 22.3 19.7 18.3 17.2 16.8b19.4 23.5 24.7 21.7 %7.2 6.9 6.5 6.3 5.9 5.8b5.3 6.2 5.1 4.9 3 year change in pp-0.2 -0.3 -1.0 -0.9 -1.0 -0.7b-1.0 0.3 -0.7b-0.4 %nana18.2 17.7 17.2 17.7 18.4 17.7 17.2 18.6 3 year change in ppnanananana-0.5 0.7 0.5 -0.5 0.2 %16.0 15.6 16.3 16.2 15.8 16.4 17.1 16.1 15.7 16.0 3 year change in pp1.2 0.2 1.1 0.2 0.2 0.1 0.9 0.3 -0.7 -1.1 %nana1.1 0.7 1.0 1.4 1.5 2.0 1.4 2.3 3 year change in ppnanananana0.3 0.8 1.0 0.0 0.8 %nana7.8 7.8 8.2 8.3 8.3 7.9 8.8 8.2 3 year change in ppnanananana0.5 0.5 -0.3 0.5 -0.1 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 and socially deprived people - % of total populationPeople living in households with very low work intensity - % of total population aged 0-64People at risk of poverty or social exclusion - % of total populationFlags:b:Break in series. 1) Labour Force Survey indicators, 2018: b = following the detection of quality deficiencies in 2018, only half of the sample used.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) 2022 

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 (% y-o-y change)House price index, 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)EU-0.4 1.5e-4.3 -5.1 3.3 0.5 5.5p133.0p83.5 6.2 -2.3p74.5 2.4 14.5 EA-0.6 3.2 -3.5 -5.2 3.4 0.4 5.3p136.2p90.9 6.8 -2.4p74.5 2.7 14.6 BE-1.0 57.7 -0.1 -5.3 6.3p-3.8 5.7p161.4p104.3 5.6 -2.7 70.5 2.3 16.4 BG-1.4 -12.9 2.1 8.5 9.5 -2.1b5.9 74.6 22.6 4.3 12.0 73.6 2.3 10.7 CZ-6.1 -19.7 8.7 -5.0 5.1 1.6 4.5 76.1 44.2 2.2 3.2 77.2 0.6 6.8 DK13.4 58.2 -1.9 5.6 4.2 -7.4 13.1 188.0 29.8 4.5 -1.6 80.4 0.5 10.6 DE4.2 70.2 -2.5 -8.7 3.4p-1.3 6.7p118.4p66.1 3.1 1.5 79.4 1.0 6.0 EE-3.2 -20.2 6.5 -1.5 13.6 4.5 9.2 94.3 18.5 5.6 1.6 81.2 1.3 18.6 IE10.8 -116.8 -4.7 -4.7 0.1 5.0 2.0 147.1 44.4 4.5 -4.0 76.7 1.3 10.1 EL-10.3 -144.2 -1.3 8.9 -0.2p4.4e1.1p100.8p172.6 12.5 -0.5 69.4 7.7 31.4 ES0.6 -60.2 -1.9 5.1 1.0p0.8 0.3p123.5p111.6 12.9d-4.5 74.0d5.0d29.8dFR-2.0 -23.8 -4.7 -1.9 5.1p1.5 8.7p163.9p111.8 7.3d-1.3p73.6d2.0d17.3dHR-2.8 -25.4 -0.6 10.3 7.2p3.2 6.0p79.3p68.2 7.0 9.5 69.9 2.4 18.0 IT-1.5 4.7 -2.3 -2.5 2.7 -3.2 2.9 105.5 141.7 8.1 -5.7 65.5 4.6 23.7 CY-7.9 -96.2 -3.1 -5.5 -0.9p-3.1 -3.9p213.4p85.6 6.8 -2.3 78.2 2.3 18.6 LV-4.7 -26.5 3.3 3.6 11.6 -1.0 3.0 52.5 41.0 6.9 4.1 76.8 2.0 15.3 LT-5.5 -7.0 4.5 3.2 14.2 0.4 6.8 51.4 38.1 6.0 1.0 78.6 2.3 11.9 LU7.7 47.0 -1.7 -16.6 7.9 4.0 -19.5p325.5p24.7 4.6 -4.9 73.5 1.3 17.6 HU-8.3 -50.8 -4.9 -0.4 12.1p5.1p9.2p78.8p73.9 3.6 8.6 77.2 1.2 10.6 MT-3.0 78.8 -3.4 -6.1 2.4 1.2p6.4 121.8 52.3 2.9 5.9 80.0 1.0 8.3 NL9.3 75.2 1.2 -2.1 3.6p6.1 6.9p210.1p50.1 3.5 -3.7p84.7 0.7 7.6 AT-0.3 17.6 -2.1 -2.3 2.6 3.7 5.0 121.9 78.4 4.8 -3.0 77.8 1.2 9.5 PL-2.4 -33.4 -0.7 -0.9 8.4p-1.9 1.9 63.5 49.3 2.9 3.0 73.5 0.9 10.8 PT-1.1 -83.6 -1.9 7.3 0.5p4.8 2.9p141.1p112.4 6.0 -4.0 76.4 2.7 19.0 RO-9.1 -40.6 1.2 0.0 2.9p-6.2 3.3p43.3p47.2 5.6 8.2 66.8 2.2 22.8 SI-1.0 -1.5 -1.3 -1.9 5.4 4.3 5.2 66.0 72.3 4.0 -1.4 76.2 1.6 10.1 SK-7.3 -61.0 1.3 -6.2 6.0 1.3 9.3 92.7 57.8 6.1 -9.3 76.1 4.1 19.9 FI-2.5 -1.7 -3.9 -1.9 4.2 -4.6 2.3 144.7 73.3 6.8 1.7 79.8 1.5 14.2 SE4.8 34.8 -7.1 -6.0 2.7 -3.1 10.6 207.3 32.9 7.5 3.7 83.5 1.9 21.7 Internal imbalancesEmployment indicators¹Flags:b:Break in series. d:Definition differs. e:Estimated. p:Provisional. 1) For employment indicators, see page 2 of the AMR 2016. 2) House price index b = break in time series due to new data source for BG; e = estimate by NCB for EL. 3) Private Sector Credit Flow: data for Luxembourg are preliminary estimates until the final structural business statistics survey becomes available.  4) For employment indicators, d = Spain and France have assessed the attachment to the job and included in employment those who had an unknown duration of absence from work, but are expected to return to the same job once COVID-19 health measures allow it.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)2022External imbalances and competitiveness 
 
 
 
 
 
 
 
 
 
 
 
 
Table 6.2: MIP Scoreboard (base indicators) 2021 

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 (% y-o-y change)House price index, 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)EU2.8 0.0e0.7 -4.8 -0.1 5.8 6.5 140.9 87.4 7.1 8.8 73.6 2.8 16.7 EA2.8 1.4 0.3 -4.2 -0.2 5.5 6.1 143.2 94.7 7.7 8.6 73.6 3.2 16.9 BE1.3 67.7 0.6 2.0 -0.4 4.5 6.2 172.4 108.0 6.3 8.1 69.7 2.6 18.2 BG-1.7 -18.6 0.9 4.4 3.6 2.5 4.9 84.0 23.9 5.3 9.6 72.0 2.6 15.8 CZ-2.8 -14.5 3.9 -4.8 1.8 16.4 2.9 78.8 42.0 2.8 7.8 76.6 0.8 8.2 DK9.1 72.9 -0.9 -2.9 -1.2 9.5 11.5 206.9 36.0 5.1 11.6 79.6 1.0 10.8 DE7.7 68.0 0.8 -4.4 0.1p8.3 6.8p120.4p69.0 3.7 7.2 78.5 1.2 7.0 EE-2.6 -13.4 1.5 9.1 2.1 10.4 6.8 96.9 17.8 6.2 18.5 79.1 1.6 16.7 IE13.7 -130.9 -0.1 -3.7 -5.5 4.2 1.9 168.1 54.4 6.2 18.9 74.6 1.8 14.5 EL-6.8 -173.0 -1.5 19.3 -3.1p6.5e0.8p122.0p195.0 14.7 14.3 67.3 9.2 35.5 ES0.8 -71.0 0.6 0.4 0.4p1.4 3.0p137.7p116.8 14.8d6.3 73.7d6.2d34.8dFR0.4 -30.9 -0.4 -1.4 1.3p4.8 6.7p167.5p112.9 7.9d8.3 73.0d2.3d18.9dHR1.0 -32.5 0.5 15.0 -5.4 4.9 3.0 86.7 78.1 7.6 11.8 68.7 2.8 21.9 IT2.4 7.5 -0.4 -1.1 -0.9 1.0 3.3 111.3 147.1 9.5 8.0 64.5 5.4 29.7 CY-6.1 -104.0 -0.2 3.5 -2.1p-4.2 6.5 242.1 99.3 7.5 3.6 76.7 2.6 17.1 LV-3.9 -27.3 0.3 -2.6 -0.9 7.2 0.9 58.5 44.0 7.6 13.3 75.8 2.3 14.8 LT1.1 -7.4 1.9 2.7 6.5 10.9 5.8 53.6 43.4 7.1 22.6 78.2 2.6 14.3 LU7.9 42.6 0.8 -1.6 0.9 12.5 64.1 343.9 24.5 5.3 13.1 73.2 1.8 16.9 HU-4.1 -52.2 0.3 -6.1 2.9 9.6 12.9 80.9 76.7 4.1 16.5 76.2 1.3 13.5 MT1.2 97.0 -1.1 -10.2 -4.4 3.8 8.8 132.7 54.0 3.4 11.1 78.2 0.9 9.4 NL12.1 93.3 0.1 -2.8 -2.0p11.6 9.6 223.7 51.7 4.2 0.2 83.7 0.8 9.3 AT1.6 15.6 0.2 -4.4 0.7 10.1 7.6 130.7 82.5 6.2 8.2 77.2 2.0 11.0 PL-1.3 -39.8 -0.5 -1.4 0.4 3.5 3.8 71.3 53.6 3.4 12.3 72.8 0.9 11.9 PT-0.8 -94.4 -1.7 -0.4 1.3 7.3 4.5 156.6 124.5 6.6 7.6 75.2 2.9 23.4 RO-7.2 -47.0 0.0 -0.2 1.4p-0.2 3.8 47.8 48.5 5.6 14.3 65.6 2.0 21.0 SI3.3 -7.7 -0.3 -1.2 1.1 7.9 3.5 66.2 74.4 4.8 14.1 75.0 1.9 12.8 SK-4.0 -60.5 0.0 -3.0 1.4 3.0 4.5 92.6 61.1 6.8 23.7 74.6 3.9 20.6 FI0.4 1.0 -0.7 -3.9 3.2 2.8 6.1 150.5 72.5 7.7 9.1 78.8 1.8 17.1 SE6.8 20.7 3.0 -1.0 -0.3 8.1 17.1 214.5 36.5 8.8 11.2 82.9 2.0 24.7 Flags:d:Definition differs. e:Estimated. p:Provisional. 1) For employment indicators, see page 2 of the AMR 2016. 2) House price index e = estimate by NCB for EL. 3) For employment indicators, d = Spain and France have assessed the attachment to the job and included in employment those who had an unknown duration of absence from work, but are expected to return to the same job once COVID-19 health measures allow it.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)2021External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
 
Table 6.3: MIP Scoreboard (base indicators) 2020 

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 (% y-o-y change)House price index, 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)EU2.2 -3.5e2.7 1.7 4.5 5.0 6.1 146.2 90.0 7.2 7.0 72.4 2.5 17.6 EA1.8 -2.4 2.2 1.4 4.6 4.6 6.2 148.6 97.2 8.0 6.7 72.5 2.8 18.1 BE1.4 47.3 1.2 3.7 4.0 3.3 -3.0 182.8 111.8 5.8 8.0 68.4 2.1 15.9 BG0.0 -25.6 2.7 -0.8 9.0 5.2 4.2 92.1 24.6 6.1 10.6 72.1 2.7 17.4 CZ2.0 -16.3 0.8 2.4 7.3 5.4 0.6 81.7 37.7 2.6 4.8 76.4 0.6 8.0 DK8.1 69.0 1.6 6.7 4.2 4.7 5.4 217.1 42.3 5.6 5.6 79.0 0.9 11.6 DE7.1 63.7 1.4 2.0 3.5p7.2 6.8p120.9p68.8 3.7b11.4 77.3b1.1b8.0bEE-1.9 -21.0 0.6 4.5 2.6 7.0 2.9 101.5 18.6 6.9 18.0 79.6 1.2 18.3 IE-6.5 -165.0 0.3 23.5 -5.5 -0.4 -3.8 190.3 58.1 5.9 7.6 70.8 1.4 15.8 EL-6.6 -174.3 0.3 -19.7 7.0 5.7e5.5 125.6 207.0 17.6 27.7 65.3 10.5 38.0 ES0.6 -84.9 0.6 -10.6 9.2 2.1 4.8 147.9 120.3 15.5 10.5 72.2 5.0 38.3 FR-1.6 -29.4 1.5 -6.9 4.4 4.1 13.5 173.9 114.6 8.0 11.7 72.0 1.9 21.5 HR-1.0 -45.2 -0.5 -16.1 9.4 7.1 1.3 97.2 86.8 7.5 7.2 67.1 2.1 21.1 IT3.9 0.9 0.8 -2.9 3.1 1.8 4.0 118.4 154.9 9.3 7.4 63.5 5.1 29.8 CY-10.0 -133.4 0.3 13.5 1.8 0.8 -1.4 267.2 114.9 7.6 -7.0 75.8 2.1 18.2 LV2.9 -34.0 2.0 12.5 5.6 3.5 -1.8 65.2 42.2 8.1 10.6 78.0 2.4 14.9 LT7.3 -15.7 3.2 8.8 5.0 6.0 0.3 54.3 46.2 8.5 32.6 78.5 2.5 19.6 LU8.6 42.4 0.4 15.8 3.9 12.7 45.7 327.8 24.6 6.8 -2.2 72.2 1.7 23.2 HU-1.0 -52.1 -3.7 2.5 6.7 1.5 8.2 77.0 79.3 4.1 55.0 75.1 1.1 12.5 MT2.2 59.4 1.4 8.6 11.0 2.2 5.8 142.7 52.2 4.4 4.9 77.1 1.1 10.9 NL5.1 113.0 1.8 4.9 8.1 6.2 -0.7 233.1 54.7 4.9 1.4 83.4 0.7 10.6 AT3.4 12.3 2.1 0.1 7.2 6.4 4.4 130.6 83.0 6.0 11.8 76.4 1.7 11.7 PL2.5 -43.9 1.1 11.2 7.5 6.7 1.8 76.1 57.2 3.2 11.6 70.1 0.6 10.9 PT-1.0 -104.6 0.7 -10.3 8.7 8.1 4.4 163.7 134.9 7.0 6.6 73.8 2.3 22.5 RO-4.9 -47.6 1.4 1.9 5.8 2.3 1.3 48.0 46.8 6.1 13.4 64.1 1.8 21.6 SI7.2 -15.7 0.4 1.7 7.2 5.2 -0.9 69.5 79.6 5.0 14.0 73.8 1.9 14.3 SK0.6 -64.7 2.5 3.2 5.4 7.2 2.6 94.8 58.9 6.7 9.6 74.5 3.7 20.4 FI0.5 -4.0 1.6 0.5 0.9 1.4 6.5 152.7 74.7 7.7 8.0 77.3 1.5 21.0 SE5.9 6.9 3.1 4.0 3.4 3.3 14.5 212.7 39.9 8.5 10.4 82.1 1.8 23.5 2020External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:b:Break in series. e:Estimated. p:Provisional. 1) For employment indicators, see page 2 of the AMR 2016. 2) House price index e = estimate by NCB for EL. 3) Labour Force Survey indicators, DE: 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 6.4: MIP Scoreboard (base indicators) 2019 

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 (% y-o-y change)House price index, 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)EU2.4 -5.1e-3.1 0.9 1.8 3.6 4.3 135.2 77.7 6.8 6.9b73.2 2.7 15.6 EA2.4 -4.4 -2.4 0.3 1.9 3.2 4.0 136.8 84.1 7.6 6.5b73.6 3.1 16.3 BE0.1 40.9 -1.2 -0.6 1.4 2.5 4.8 178.5 97.6 5.5 5.8 69.1 2.1 14.5 BG1.9 -30.2 0.1 2.6 3.1 3.9 5.6 90.8 20.0 5.2 5.3 73.1 2.9 12.1 CZ0.3 -19.8 0.3 -1.1 4.3 6.2 1.4 78.6 30.0 2.0 4.6 76.7 0.6 5.6 DK8.5 77.7 -1.8 2.2 1.9 1.4 10.5 221.2 33.7 5.0 13.4 79.1 0.8 10.1 DE8.2 58.5 -1.5 -1.0 3.3p4.4 6.4p112.2p59.6 3.0 7.3 78.0 1.2 6.2 EE2.5 -22.4 -0.2 2.5 5.0 4.2 3.4 98.3 8.5 4.5 11.6 79.2 0.9 11.6 IE-19.9 -193.6 -2.8 9.6 1.5 0.5 -9.6 209.5 57.1 5.0 15.4 73.2 1.6 12.5 EL-1.5 -154.1 -2.1 0.5 0.0 7.2e-0.9 110.4 180.6 17.9 11.6 68.5 11.3 37.5 ES2.1 -72.8 -1.7 -1.1 3.8 4.1 1.5 129.0 98.2 14.1 1.7 73.8 5.3 32.5 FR0.5 -24.6 -1.5 -1.1 -0.7 2.5 8.4 153.1 97.4 8.4 6.5b72.6 2.3 20.7 HR2.5 -46.7 -1.5 4.1 0.1 7.8 1.3 88.4 70.9 6.6 6.5 66.5 2.4 16.6 IT3.3 -2.0 -2.2 -1.5 1.3 -0.7 0.4 106.0 134.2 9.9 4.1 65.7 5.9 29.2 CY-5.6 -115.4 -2.4 5.2 2.7 3.4 -0.5 265.5 93.0 7.1 7.5 76.0 2.1 16.6 LV-0.6 -40.1 0.0 -1.4 7.1 5.5 1.1 66.4 36.7 6.3 4.6 77.3 2.7 12.7 LT3.5 -23.5 -0.7 6.4 6.2 4.5 2.6 55.2 35.8 6.3 6.2 78.0 1.9 11.9 LU8.9 66.2 -0.6 5.9 2.4 8.7 -0.1 298.4 22.4 5.6 3.7 72.0 1.3 17.0 HU-0.8 -49.6 -0.8 1.0 3.1 11.8 4.1 67.4 65.3 3.3 36.8 74.7 1.1 11.2 MT9.0 52.8 -1.4 15.8 2.2 4.2 13.7 129.3 40.0 3.6 64.4 75.9 0.9 9.3 NL6.9 89.6 0.3 -1.4 3.2 4.6 -0.3 229.9 48.6 4.4 8.0 83.4 0.9 8.5 AT2.4 14.4 -1.0 -0.2 2.4 4.0 5.0 121.5 70.6 4.8 3.5 77.3 1.4 9.1 PL-0.2 -48.8 -1.0 3.7 3.9 6.4 3.6 74.2 45.7 3.3 4.2 69.9 0.7 9.9 PT0.4 -100.0 -1.8 0.7 2.8 9.0 2.6 149.5 116.6 6.7 -0.2 74.9 2.8 18.3 RO-4.9 -43.4 -0.3 1.4 6.9 -1.9 2.0 46.5 35.1 4.9 10.3 63.3 2.0 21.0 SI5.9 -16.3 -0.5 0.6 3.9 5.3 0.8 68.5 65.4 4.4 9.9 74.6 1.9 8.1 SK-3.3 -65.6 0.6 -2.4 5.3 6.2 4.5 91.8 48.0 5.7 6.4 74.7 3.9 17.1 FI-0.3 4.0 -1.5 2.6 1.9 -0.6 6.6 146.1 64.9 6.8 7.8 77.3 1.5 17.7 SE5.3 13.3 -3.8 2.7 1.5 0.4 9.7 199.7 35.6 7.0 11.8 82.5 1.5 19.4 2019External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:b:Break in series. e:Estimated. p:Provisional. 1) For 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 6.5: MIP Scoreboard (base indicators) 2018 

184 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (% y-o-y change)House price index, 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)EU2.7 -8.9e4.5 -0.7 1.8 3.6 4.4 135.5 79.8 7.4 0.4b72.8 3.1 16.7 EA2.8 -8.0 4.1 -0.7 2.0 3.2 4.2 137.0 86.1 8.2 0.6b73.3 3.6 17.5 BE-0.9 34.3 2.5 -1.5 1.5 0.8 -1.3 180.3 99.9 6.0 -3.9 68.6 2.6 16.0 BG0.9 -37.0 4.0 0.1 6.7 4.1 4.0 95.0 22.1 6.2 6.6 71.4 3.6 15.9 CZ0.4 -24.4 4.4 0.9 6.1 5.9 6.8 83.0 32.1 2.2 3.4 76.6 0.7 6.7 DK7.3 64.0 1.1 0.5 1.1 3.7 4.8 215.3 34.0 5.1 -0.3 78.2 1.0 10.5 DE8.0 52.3 2.6 -1.4 3.3 5.1 6.2 109.1 61.9 3.2 3.2 77.5 1.4 6.6 EE0.9 -29.9 4.5 1.8 6.4 2.3 4.6 101.2 8.2 5.4 6.6 79.3 1.3 12.0 IE5.2 -182.9 1.3 6.3 -2.5 8.2 -8.7 230.2 62.9 5.8 5.1 72.8 2.1 13.8 EL-2.9 -148.6 2.1 7.5 -1.0 1.7e-0.8 119.1 186.4 19.7 -4.7 68.1 12.5 41.2 ES1.9 -79.1 2.0 -1.2 1.6 5.2 0.0 133.1 100.4 15.3 -1.3 73.7 6.4 34.3 FR-0.8 -19.3 2.6 0.3 0.8 1.2 8.2 148.4 97.8 9.0 1.8b72.8 2.5 22.0 HR1.6 -55.7 2.5 1.1 3.6 4.6 2.3 92.3 73.1 8.5 4.9 66.3 3.4 23.7 IT2.6 -5.2 1.9 -0.7 2.0 -1.5 2.0 107.7 134.5 10.6 -0.1 65.6 6.5 32.2 CY-4.0 -125.2 1.8 3.4 1.2 0.5 11.4 281.8 98.5 8.4 -1.7 75.0 2.7 20.2 LV-0.2 -45.1 3.9 2.9 5.4 6.3 -0.2 69.8 37.0 7.4 -3.5 77.6 3.4 12.2 LT0.3 -30.2 4.2 5.0 5.2 4.5 4.3 56.1 33.7 6.2 8.2 77.3 2.0 11.1 LU6.5 72.5 1.6 -1.4 5.6 5.1 7.3 289.2 20.9 5.6 -1.3 71.1 1.4 14.2 HU0.2 -50.7 -0.6 -0.4 3.3 10.7 4.3 68.7 69.1 3.6 -9.1 74.1 1.4 9.9 MT6.3 55.2 2.0 -3.1 6.1 4.8 6.1 120.6 43.4 3.7 2.2 74.7 1.8 9.1 NL9.3 73.1 1.5 1.6 2.3 7.1 5.2 241.3 52.4 4.9 -2.8 82.7 1.2 8.9 AT0.9 6.0 2.1 2.1 2.2 2.6 4.8 122.9 74.1 5.2 -1.0 77.1 1.7 10.0 PL-1.9 -54.7 1.0 3.5 2.1 5.0 3.8 76.7 48.7 3.9 3.2 69.4 1.0 11.8 PT0.6 -106.4 1.0 1.6 3.4 8.6 0.8 155.1 121.5 7.2 0.4 74.5 3.2 20.3 RO-4.6 -43.4 2.3 3.5 6.7 1.7 1.9 47.1 34.5 5.3 3.4 62.4 2.2 20.5 SI5.9 -19.0 1.8 3.9 2.7 6.6 1.3 72.5 70.3 5.1 4.1 74.4 2.2 8.9 SK-2.2 -69.4 2.1 2.0 3.9 4.9 6.2 90.5 49.4 6.5 9.6 74.4 4.7 15.8 FI-1.8 -5.6 2.2 0.9 2.6 -0.4 4.3 143.9 64.8 7.5 20.1 77.0 2.0 17.3 SE2.5 8.2 -4.0 -2.2 3.6 -3.3 9.2 197.0 39.6 6.5b-1.8 82.3b1.7b16.8bFlags:b:Break in series. e:Estimated. 1) For 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. 4) Unemployment and Employment indicators, SE: b = following the detection of quality deficiencies, only half of the sample used.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)2018External imbalances and competitivenessInternal imbalancesEmployment indicators¹ 
 
 
 
 
 
 
 
 
 
Table 6.6: MIP Scoreboard (base indicators) 2017 

185 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (% y-o-y change)House price index, 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)EU3.0 -13.3e2.1 -0.9 1.0 3.2 3.9 136.6 81.9 8.3 2.7 72.4 3.7 18.5 EA3.1 -12.3 1.5 -0.5 0.7 3.0 3.6 137.6 88.1 9.1 2.4 73.0 4.2 19.4 BE0.7 56.0 1.5 0.2 1.9 1.7 0.8 185.5 102.0 7.2b1.3 68.0b3.1b19.4bBG3.3 -43.0 0.6 4.6 9.5 3.9 4.5 98.7 25.1 7.2 7.1 71.2 3.9 16.1 CZ1.5 -24.9 3.7 1.1 3.5 9.1 6.0 80.3 34.2 2.9 28.3 75.9 1.0 7.9 DK8.0 55.4 0.4 -0.7 0.3 3.5 2.0 216.7 35.9 5.8b2.5 77.9b1.2b12.4bDE7.8 44.6 1.0 -1.3 1.3 4.6 4.2 106.6 65.2 3.6 4.1 77.0 1.5 7.2 EE2.3 -33.0 1.5 -0.2 3.9 1.1 4.2 106.2 9.1 5.8 12.3 79.2 2.0 12.1 IE0.5 -166.4 0.1 1.4 -3.0 9.3 0.2 248.5 67.4 6.7 4.2 72.6 3.0 14.4 EL-1.9 -143.4 0.5 4.9 -0.1 -1.4e-1.2 120.4 179.5 21.8 -13.0 68.2 14.3 44.5 ES2.8 -85.5 1.4 0.1 0.4 4.6 0.7 139.2 101.8 17.2 4.4 73.9 7.7 38.6 FR-0.8 -20.1 0.5 -3.2 0.8 2.3 7.1 145.0 98.1 9.4 4.3 72.4 2.9 23.5 HR3.3 -63.5 0.5 2.4 -0.7 2.9 1.5 96.0 76.3 11.2 4.2 66.4 4.6 27.4 IT2.7 -7.5 0.6 -0.7 -0.1 -2.1 1.2 109.4 134.2 11.3 1.9 65.3 6.9 34.6 CY-5.0 -135.7 0.4 3.7 1.2 1.2 7.6 303.6 93.2 11.1 0.8 73.9 4.5 24.7 LV1.2 -51.1 -0.1 1.6 4.1 5.3 2.8 75.6 38.9 8.7 6.2 76.9 3.6 17.0 LT0.5 -37.3 0.4 9.5 4.3 5.2 4.5 56.2 39.1 7.1 13.9 75.9 2.7 13.3 LU4.5 97.7 1.0 -1.9 5.3 3.3 -5.3 289.4 21.8 5.5 0.3 70.2 2.1 15.4 HU2.0 -54.4 1.7 0.5 4.6 8.6 0.6 69.9 72.1 4.0 -7.1 73.1 1.6 10.5 MT5.9 56.6 1.1 3.7 -0.3 4.2 6.0 124.3 47.8 4.0 7.4 72.2 2.0 10.6 NL8.9 61.5 0.5 1.1 0.5 6.1 3.5 247.6 57.0 5.9 0.5 82.2 1.7 10.4 AT1.4 4.3 1.0 -1.4 1.0 3.4 3.6 122.3 78.5 5.9 4.4 76.8 2.3 10.5 PL-1.1 -60.3 2.7 5.1 1.8 2.0 3.1 77.3 50.8 5.0 4.7 68.7 1.5 14.9 PT1.3 -110.4 0.6 2.9 2.1 7.6 2.9 163.0 126.1 9.2 1.3 73.8 4.6 23.9 RO-3.1 -47.8 -1.8 2.7 8.7 3.3 1.7 51.3 35.3 6.1 8.2 61.8 2.4 23.0 SI6.2 -24.2 -0.3 5.4 1.2 6.6 0.9 76.1 74.2 6.6 5.3 73.6 3.1 11.3 SK-1.9 -68.2 -0.1 -1.6 4.3 4.4 5.0 89.8 51.5 8.1 16.6 74.1 5.9 20.0 FI-0.8 1.2 -0.6 3.8 -3.2 0.1 8.3 147.7 66.0 8.7 -4.1 75.8 2.6 20.0 SE2.8 -0.8 -0.8 -2.4 2.0 4.8 13.6 201.1 41.4 6.8 6.9 82.1 2.0 17.2 2017External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:b:Break in series. e:Estimated. 1) For 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 6.7: MIP Scoreboard (base indicators) 2016 

186 

Current account balance - % of GDP (level year)Net international investment position (% of GDP)Real effective exchange rate - 42 trading partners, HICP deflator (% y-o-y change)Export market share - % of world exports(% y-o-y change)Nominal unit labour cost index (% y-o-y change)House price index, 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)EU3.2 -14.4e2.6 2.7 0.7 4.1 3.9b139.8b84.3 9.3 4.9b71.9 4.3 20.7 EA3.0 -13.6 2.6 2.6 0.8 3.6 3.6 140.8 90.4 10.1 4.4 72.7 4.8 21.5 BE0.6 54.5 2.9 7.0 0.6 1.1 23.8 193.4 105.0 7.9 2.7 67.7 3.7 20.3 BG3.1 -47.5 -0.4 8.2 3.2 5.3 2.9 104.0 29.1 8.6 9.5 68.6 5.0 20.4 CZ1.8 -27.2 2.5 4.4 3.0 6.8 6.2 80.4 36.6 4.0 16.8 75.0 1.7 10.5 DK7.8 52.6 1.0 1.5 -0.2 5.1 3.1b222.4b37.2 6.0b15.4b77.5b1.2b12.2bDE8.6 39.5 1.6 3.3 1.3 6.7 4.6 107.2 69.0 3.9 5.4 76.7 1.7 7.5 EE1.2 -39.5 1.5 6.5 3.3 3.7 6.4 111.9 10.0 6.8 8.9 77.9 2.2 14.0 IE-4.2 -172.9 0.9 4.0 4.4 7.0 -14.8 284.6 74.4 8.4 1.8 72.6 4.2 16.8 EL-1.7 -139.1 1.1 -2.1 0.1 -1.5e-2.2 127.0 180.5 23.9 -10.3 68.2 15.4 48.2 ES3.2 -85.4 0.7 5.8 -0.9 4.5 -0.4 147.7 102.7 19.6 2.0 74.2 9.5 44.4 FR-0.5 -13.0 1.3 2.2 0.7 0.8 6.2 143.2 98.0 10.1 4.9 72.3 3.1 26.0 HR2.2 -71.5 1.1 9.0 -2.9 2.0 -0.1 102.3 79.5 13.1 3.8 65.6 6.6 31.3 IT2.6 -12.1 0.8 2.7 0.4 0.2 0.1 112.1 134.8 11.7 3.3 64.8 7.1 37.7 CY-4.2 -133.2 -0.2 8.2 -2.7 2.2 12.0 326.6 103.2 13.0 -0.2 73.4 5.8 29.1 LV1.6 -53.8 1.2 3.7 4.5 7.3 2.5 78.3 40.3 9.7 4.7 76.2 4.4 17.5 LT-1.1 -42.8 1.9 3.9 6.1 4.4 4.4 56.6 39.7 7.9 15.8 75.5 3.0 14.5 LU4.7 63.6 0.7 2.7 -1.2 5.2 2.1 303.7 19.6 6.3 5.0 70.0 2.2 18.9 HU4.5 -59.1 0.8 3.3 4.0 12.3 -3.2 76.8 74.9 5.0 19.5 72.1 2.3 12.7 MT-0.6 47.8 1.4 3.4 6.4 4.5 10.7 134.2 54.7 4.7 3.7 70.6 2.4 10.7 NL7.1 62.6 1.2 0.3 0.9 4.4 3.6 257.8 61.9 7.0 7.4 82.2 2.3 12.1 AT2.7 4.1 1.7 4.2 1.7 7.0 3.3 123.3 82.8 6.5 -3.5 76.6 2.4 12.0 PL-1.0 -59.7 -3.5 6.3 2.6 2.7 4.9 82.3 54.5 6.3 9.2 67.8 2.2 17.8 PT1.2 -110.5 1.6 4.1 0.8 6.1 -1.8 169.3 131.5 11.5 -0.4 72.7 6.4 28.0 RO-1.6 -50.0 -1.3 8.9 11.0 5.2 0.6 54.6 37.9 7.2 7.0 60.2 3.4 25.9 SI4.8 -28.8 0.5 6.7 1.8 3.6 -0.8 81.0 78.5 8.0 3.4 71.1 4.3 15.3 SK-2.7 -66.6 0.5 6.0 2.7 7.0 9.2 87.9 52.3 9.6 8.6 73.9 6.8 23.4 FI-2.0 5.5 1.2 2.8 -1.4 1.1 1.3 148.1 68.0 8.9 3.8 75.0 2.9 20.5 SE2.2 -1.6 0.8 0.9 2.3 7.3 12.4 195.0 42.2 7.1 8.6 81.7 2.0 18.3 2016External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:b:Break in series. e:Estimated. 1) For employment indicators, see page 2 of the AMR 2016. 2) House price index e = estimate by NCB for EL. 3) Private sector credit flow and 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 6.8: MIP Scoreboard (base indicators) 2015 

187 

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 (% y-o-y change)House price index, 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)EU2.8 -18.5e-8.9 2.1 0.0 2.0 2.2 140.9 85.1 10.2 5.2 71.5 4.9 22.4 EA2.7 -17.3 -7.4 2.6 0.3 1.2 2.0 142.3 91.3 11.0 5.5 72.4 5.4 23.1 BE1.4 45.2 -3.4 -7.2 -1.0 0.8 11.0 173.6 105.2 8.7 2.6 67.7 4.0 22.5 BG0.0 -61.5 -3.6 -1.2 2.5 0.4b-3.8 108.8 25.9 10.1 9.6 69.2 6.1 24.7 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 6.6 2.9 211.4 39.8 6.3 -0.9 76.9 1.6 12.2 DE8.6 34.9 -4.4 -0.1 2.2 4.1 2.9 106.3 71.9 4.4 3.1 76.4 2.0 7.7 EE1.8 -40.2 0.1 -8.5 4.6 7.3 2.3 113.3 10.1 6.4 7.5 77.0 2.4 14.3 IE4.4 -197.9 -7.2 40.6 -15.1 11.0 -2.2 303.2 76.5 9.9 9.7 72.0 5.3 20.2 EL-0.8 -136.1 -4.5 -7.2 -3.3 -3.8e-3.1 129.1 176.7 25.0 6.3 67.7 16.4 50.3 ES2.0 -88.9 -4.5 -1.4 0.0 3.7 -2.0 155.7 103.3 22.1 -1.5 74.3 11.4 48.3 FR-0.4 -12.9 -4.7 0.9 0.2 -1.6 4.6 142.8 95.6 10.3 2.2 72.2 3.1 26.1 HR3.3 -78.0 -1.5 3.6 -0.5 -2.6 -1.5 109.6 83.0 16.2 0.8 66.9 10.2 42.3 IT1.4 -19.5 -4.5 -2.4 0.9 -4.0 -1.4 116.0 135.3 12.0 1.4 63.8 7.4 40.3 CY-0.4 -153.5 -6.5 2.4 -3.1 1.0b4.3 345.3 107.5 15.0 9.7 73.9 6.8 32.8 LV-0.6 -59.6 0.6 -3.6 5.0 -2.8 -0.8 78.3 37.0 9.9 13.3 75.7 4.9 16.3 LT-2.4 -43.8 0.3 -8.7 5.1 4.7 2.6 55.2 42.5 9.1 7.1 74.1 3.9 16.3 LU4.7 68.2 -2.7 4.5 1.9 4.5 21.3 322.7 21.1 6.7b17.2 70.9b1.9b17.3bHU2.3 -67.5 -2.4 0.3 0.5 12.5 -2.5 83.8 75.8 6.6 0.4 70.5 3.0 17.1 MT2.7 36.1 -4.8 11.0 0.5 4.1 7.1 131.2 56.2 5.4 3.6 68.8 2.7 11.6 NL5.2 50.0 -3.4 -2.0 -1.3 3.4 0.0 261.5 64.7 7.9 4.0 82.1 2.7 12.5 AT1.7 2.2 -2.4 -3.5 1.5 3.4 2.1 124.0 84.9 6.1 -0.1 75.8 2.0 11.3 PL-1.3 -60.6 -2.6 1.5 -0.4 1.9 3.6 79.1 51.3 7.7 2.9 66.8 3.0 21.0 PT0.2 -118.9 -2.9 -1.3 -0.1 2.2 -1.4 179.3 131.2 13.0 -1.4 72.3 7.5 32.0 RO-0.8 -54.7 -2.6 -0.2 -2.5 1.7 0.2 58.0 37.8 8.4 4.1 59.9 3.6 27.3 SI3.8 -31.2 -2.1 -1.6 0.6 1.4 -5.0 87.4 82.6 9.0 -3.8 71.2 4.7 16.4 SK-2.1 -63.6 -2.4 -2.7 0.6 5.5 5.0 80.2 51.7 11.5 10.4 72.9 8.8 27.7 FI-0.9 4.8 -3.2 -6.8 0.8 -0.5b6.9 152.1 68.3 9.4 1.4 74.8 2.9 22.5 SE3.2 -5.0 -5.5 -2.0 -0.3 12.0 8.7 192.5 43.7 7.6 1.7 81.4 2.3 19.7 Flags:b:Break in series. e:Estimated. 2015External imbalances and competitivenessInternal imbalancesEmployment indicators¹1) For 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; 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 6.9: MIP Scoreboard (base indicators) 2014 

188 

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 (% y-o-y change)House price index, 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)EU2.5 -19.2e0.0 2.2 0.3 0.4 0.6 141.2 86.9 11.0 9.8 71.2 5.4 24.1 EA2.3 -17.9 0.6 2.7 0.6 -0.2 0.3 142.6 93.2 11.7 10.1 72.2 5.9 24.5 BE0.8 44.8 0.2 0.5 -0.2 -1.3 -2.4 160.9 107.0 8.7 2.6 67.8 3.9 23.4 BG1.2 -72.0 -0.8 0.8 5.0 0.1 2.3 125.1 27.0 12.4 7.9 68.9 7.4 26.9 CZ0.2 -36.3 -5.2 4.8 1.1 1.6 2.3 83.0 41.9 6.1 5.2 73.5 2.7 15.9 DK8.9 43.3 0.8 0.5 0.7 3.1 -0.3 214.0 44.3 6.9 7.3 76.6 1.7 14.2 DE7.2 29.4 0.8 2.6 1.5 2.2 0.2 107.1 75.3 4.7 5.3 76.5 2.2 8.3 EE0.7 -47.0 2.8 0.8 4.2 12.9 6.3 116.9 10.6 7.3 12.6 75.9 3.3 14.9 IE1.1 -164.2 -0.8 13.1 -4.7 15.5 2.5 275.9 104.0 11.9 18.9 71.8 6.6 23.4 EL-0.7 -133.0 -0.6 3.6 -1.5 -5.2e-3.1 132.4 180.3 26.6 -8.1 67.3 17.5 53.0 ES1.7 -95.9 -0.5 1.0 -0.2 0.2 -7.1 167.4 105.1 24.5 0.1 74.2 12.9 53.2 FR-1.0 -15.6 0.3 0.2 0.7 -1.6 3.2 141.5 94.9 10.3 5.6 72.0 3.1 25.7 HR0.3 -88.5 0.5 4.3 -2.2 -1.3 -0.1 114.7 83.6 17.3 1.0 66.1 10.1 45.5 IT1.9 -21.0 0.3 0.8 0.2 -4.9 -0.3 119.8 135.4 12.9 1.0 63.6 8.2 42.7 CY-4.1 -163.1 -0.8 2.4 -3.8 -1.1 -0.8 351.1 108.8 16.1 11.6 74.3 7.7 36.0 LV-1.6 -63.5 2.9 3.6 4.8 4.7 -4.6 82.2 41.6 10.9 10.9 74.4 5.1 19.6 LT3.5 -46.8 3.0 -5.8 3.1 6.4 0.2 54.1 40.5 10.7 16.7 73.7 4.8 19.3 LU4.9 67.3 0.5 7.6 1.9 3.7 28.1 313.2 21.9 5.9 39.0 70.8 1.6 22.6 HU1.2 -80.1 -3.6 4.2 1.1 2.8 -0.2 91.4 76.5 7.5 8.7 68.8 3.6 20.1 MT5.6 41.8 0.6 3.0 -0.6 2.0 6.6 140.2 62.1 5.7 6.0 67.8 2.9 11.7 NL8.5 48.0 -0.1 0.5 0.1 -0.1 4.2 266.0 67.9 8.4 8.0 81.5 2.7 13.8 AT2.5 3.4 1.7 1.4 2.2 1.4 0.9 124.8 84.0 6.0 -0.8 75.7 1.9 11.0 PL-2.9 -68.8 1.0 3.9 0.2 1.3 4.9 79.0 51.4 9.2 1.7 66.4 3.9 24.1 PT0.2 -123.8 -0.5 0.9 -1.2 4.0 -6.8 190.1 132.9 14.6 -7.3 71.8 8.7 34.8 RO-0.3 -57.0 1.4 6.7 2.8 -3.2 -2.3 62.0 39.2 8.6 1.2 58.8 3.4 30.0 SI5.1 -38.4 1.1 3.9 -1.1 -6.2 -4.7 97.9 80.3 9.7 -0.1 70.4 5.3 20.5 SK1.1 -63.4 0.2 -1.6 0.7 1.5 5.0 78.8 53.5 13.1 9.4 72.2 10.7 31.0 FI-1.3 -3.1 2.5 -4.5 0.9 -1.6 1.7 148.8 64.5 8.7 9.4 74.6 2.4 20.5 SE4.2 -3.4 -4.6 -1.3 1.0 8.3 5.6 193.8 45.0 8.1 13.2 81.1 2.3 22.3 2014External imbalances and competitivenessInternal imbalancesEmployment indicators¹Flags:e:Estimated. 1) For 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 6.10: MIP Scoreboard (base indicators) 2013 

189 

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 (% y-o-y change)House price index, 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)EU2.5 -21.9e3.9 2.1 1.1 -2.8 0.9 143.5 86.8 11.6 -1.1 70.8 5.4 25.2 EA2.1 -20.2 3.5 na1.2 -3.1 0.8 144.9 93.0 12.2 -1.5 71.9 5.8 25.2 BE1.0 43.2 1.5 1.4 1.7 0.1 8.5 162.8 105.5 8.6 1.2 67.6 3.5 23.9 BG1.3 -73.2 0.1 6.4 8.9 -0.8 2.6 130.1 17.0 13.9 1.1 68.2 7.9 31.5 CZ-0.5 -40.9 -2.2 -1.5 0.3 -0.7 4.3 84.8 44.4 7.0 10.1 72.9 3.0 19.0 DK7.8 37.2 1.0 2.1 0.7 3.1 -3.0 216.1 44.0 7.4 1.8 76.6 1.8 14.8 DE6.6 25.4 2.2 1.0 2.3 1.7 2.7 114.9 78.3 5.0 -6.4 76.4 2.3 8.3 EE0.3 -50.0 2.9 3.6 5.5 7.3 4.6 116.7 10.2 8.6 11.4 75.8 3.8 18.6 IE1.6 -133.7 1.6 1.9 0.4 0.0 -0.7 266.3 120.1 13.8 1.8 71.8 7.9 26.7 EL-1.4 -131.0 -0.6 0.5 -6.5 -9.3e-4.1 133.4 178.2 27.8 -17.5 67.4 16.7 59.2 ES2.0 -92.8 1.9 3.8 -0.9 -10.0 -10.2 178.1 100.5 26.1 -10.7 74.3 13.0 55.5 FR-0.5 -16.6 1.6 2.3 1.4 -2.5 2.1 137.4 93.4 10.3 0.5 71.8 2.9 26.4 HR-1.1 -88.4 1.2 1.9 -3.4 -5.7 -0.6 114.5 80.0 17.3 2.6 63.7 11.0 50.0 IT1.1 -23.5 1.9 0.1 0.8 -7.5 -2.8 122.0 132.5 12.4 -2.3 62.9 7.4 40.0 CY-1.5 -162.1 1.1 2.8 -4.3 -3.9 -12.1 340.2 103.7 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 40.3 11.9 5.7 73.8 6.3 23.2 LT1.7 -50.8 0.9 5.6 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 9.0 1.7 3.4 26.4 296.8 22.4 5.9 10.1 69.9 1.8 15.5 HU3.4 -82.0 -1.4 1.5 -0.3 -4.2 -0.9 95.6 77.2 9.8 -1.2 66.7 4.8 26.1 MT0.1 25.9 1.5 1.1 0.9 -1.6 2.9 147.3 66.4 6.1 0.0 66.3 3.5 12.7 NL9.8 30.7 2.7 1.4 0.8 -7.9 9.7 256.6 67.7 8.2 -1.6 81.9 2.3 14.2 AT1.9 1.3 2.1 1.6 2.5 3.0 1.0 127.1 81.3 5.7 -3.2 75.8 1.6 10.3 PL-2.0 -68.8 0.2 4.7 0.6 -4.7 3.2 76.5 57.1 10.6 6.0 65.4 4.5 27.6 PT1.6 -120.2 0.3 6.7 1.5 -2.6 -2.3 201.6 131.4 17.2 -5.2 71.2 9.7 38.3 RO-1.0 -63.6 4.0 15.8 3.6 -1.7 -1.5 67.2 37.8 9.0 0.8 57.9 3.9 29.6 SI3.3 -39.3 1.4 2.4 0.4 -7.2 -3.7 107.2 70.0 10.1 -10.1 70.0 5.2 21.6 SK1.9 -62.0 1.0 4.9 1.1 -0.4 4.9 75.0 54.7 14.1 1.4 71.8 11.6 34.9 FI-1.8 3.0 2.9 -0.4 1.6 -1.3 3.0 147.0 60.6 8.3 -11.5 74.4 2.1 20.6 SE5.2 -15.9 1.7 -1.1 1.8 4.5 4.5 193.8 40.3 8.2 9.8 80.7 2.3 22.9 Flags:e:Estimated. 1) For 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)2013External imbalances and competitivenessInternal imbalancesEmployment indicators¹