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WP_2012_11__3_.pdf

WP_2012_11__3_.pdf

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03/30/2014

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0

20

40

60

80

100

0

20

40

60

80

100

00

02

04

06

08

10

Composition of hours worked

0

20

40

60

80

100

0

20

40

60

80

100

00

02

04

06

08

10

Construction

Real estate

Agriculture

Finance/insurance

Public services

Other services

Other industry

Manufacturing

Composition of GVA, 2005 prices

0

20

40

60

80

100

0

20

40

60

80

100

00

02

04

06

08

10

Composition of GVA, current prices

140

120

100

80

60

140

120

100

80

60

00

02

04

06

08

10

Gross value added (GVA)

120

110

100

90

80

70

120

110

100

90

80

70

00

02

04

06

08

10

Public services

Financial services

Real estate services

Other services

Construction

Manufacturing

Manufacturing - constant weights

Hours worked

120

110

100

90

80

70

60

50

120

110

100

90

80

70

60

50

00

02

04

06

08

10

GVA/hours worked

104

100

96

92

88

84

80

104

100

96

92

88

84

80

00

02

04

06

08

10

Gross value added (GVA)

102

100

98

96

94

92

90

102

100

98

96

94

92

90

00

02

04

06

08

10

Total economy

Total economy - constant weights

Business sector w.o. A.C.R.

Business sector w.o. A.C.R. - constant weights

Hours worked

108

104

100

96

92

88

84

108

104

100

96

92

88

84

00

02

04

06

08

10

GVA/hours worked

62

Portugal, continued

104

103

102

101

100

99

98

97

104

103

102

101

100

99

98

97

00

02

04

06

08

10

Total economy
Business sector w.o. A.C.R.

Hours worked/employee (2008Q1=100)

125

120

115

110

105

100

95

90

85

80

125

120

115

110

105

100

95

90

85

80

00

02

04

06

08

10

Gross value added (national accounts database)
Gross production (industry database)
Hours worked (national accounts database)
Hours worked (industry database)

Manufacturing data from different
databases (2008Q1=100)

60

80

100

120

140

160

60

80

100

120

140

160

00

02

04

06

08

10

Food

Cloth

Wood

Chemic/Pharma

Plastic

Metal

Electric

Machine

Other

Total

Gross production in manufacturing
sub-sectors (2008Q1=100)

40

32

24
20

16

12

8

4

40

32

24
20

16

12

8

4

00

02

04

06

08

10

Public services
Financial services
Real estate services
Other services
Construction
Manufacturing

Hourly labour compensation (local currency)

130

120

110

100

90

80

70

60

130

120

110

100

90

80

70

60

00

02

04

06

08

10

Public services
Financial services
Real estate services
Other services
Construction
Manufacturing

Hourly labour compensation (2008Q1=100)

110

105

100

95

90

85

80

75

70

110

105

100

95

90

85

80

75

70

00

02

04

06

08

10

Total economy
Total economy - constant weights
Business sector w.o. A.C.R.
Business sector w.o. A.C.R. - constant weights

Hourly labour compensation (2008Q1=100)

140

120

100

80

60

140

120

100

80

60

00

02

04

06

08

10

Public services
Financial services
Real estate services
Other services
Construction
Manufacturing
Manufacturing - constant weights

Unit labour costs (2008Q1=100)

110

105

100

95

90

85

80

110

105

100

95

90

85

80

00

02

04

06

08

10

Total economy
Total economy - constant weights
Business sector w.o. A.C.R.
Business sector w.o. A.C.R. - constant weights

Unit labour costs (2008Q1=100)

120

115

110

105

100

95

90

85

120

115

110

105

100

95

90

85

00

02

04

06

08

10

Euro-area 14
Non-euro EU 9
Non-EU 7
All 30

ULC of trading partners
Bus.sec. w.o. A.C.R. - const.w. (2008Q1=100)

63

Portugal, continued 2

102

100

98

96

94

92

90

88

86

102

100

98

96

94

92

90

88

86

00

02

04

06

08

10

Total economy
Total economy - constant weights
Business sector w.o. A.C.R.
Business sector w.o. A.C.R. - constant weights
Eurostat (Total economy)

REER-ULC - aggregates (2008Q1=100)

108

104

100

96

92

88

84

80

76

108

104

100

96

92

88

84

80

76

00

02

04

06

08

10

Manufacturing
Manufacturing - constant weights
Trade, transport, tourism
Information and communication
Business sector w.o. A.C.R. - constant weights

REER-ULC - sectors (2008Q1=100)

120

110

100

90

80

70

60

120

110

100

90

80

70

60

00

02

04

06

08

10

Euro-area 14
Non-euro EU 9
Non-EU 7
All 30

REER-ULC - trading partners (2008Q1=100)
Bus.sec. w.o. A.C.R. - constant weights

120

110

100

90

80

70

60

120

110

100

90

80

70

60

1990

1995

2000

2005

2010

Euro-area 14
Non-euro EU 9
Non-EU 7
All 30
138 countries

NEER (2008Q1=100)

120

110

100

90

80

70

60

120

110

100

90

80

70

60

1990

1995

2000

2005

2010

Euro-area 14
Non-euro EU 9
Non-EU 7
All 30
138 countries

REER-CPI (2008Q1=100)

110

100

90

80

70

60

110

100

90

80

70

60

00

02

04

06

08

10

Exports
Foreign imports
REER-ULC: Business sector w.o. A.C.R. - constant weights
REER-ULC: Manufacturing - constant weights

Export, export demand and REER

64

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