Statistics

Pocket Book

January
2008

Statistics
Pocket Book

© European Central Bank, 2013
Address
Kaiserstrasse 29
60311 Frankfurt am Main
Germany
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60066 Frankfurt am Main
Germany
Telephone
+49 69 1344 0
Website
http://www.ecb.europa.eu
Fax
+49 69 1344 6000
Telex
411 144 ecb d
ISSN 1725-552X (print)
ISSN 1725-5538 (online)

Contents
General information

6

1
1.1
1.2

Overview of major economic areas
Structural indicators
Main recent economic developments

7
8

2
2.1
2.2

Population and the labour market in the euro area
Population and the labour market
Employment in terms of persons employed and hours worked

9
9

3
3.1
3.2
3.3
3.4

Euro area macroeconomic indicators
GDP and expenditure components
Value added by economic activity
Short-term business indicators
Opinion surveys (excluding price-related developments)

10
10
11
11

4
4.1
4.2
4.3
4.4
4.5
4.6
4.7

Euro area external statistics
Balance of payments
Trade in goods with main partners
Geographical breakdown of the balance of payments
International investment position
Geographical breakdown of the international investment position
International reserves of the Eurosystem and the ECB
Exchange rates

12
12
13
14
14
15
15

5
5.1
5.2
5.3
5.4
5.5
5.6

Prices in the euro area
HICP
The impact of inflation on the purchasing power of money
Industry, construction, residential property, export and import prices
Price-related opinion surveys
Other prices and costs
Gross domestic product deflators

16
16
17
17
18
18

6
6.1
6.2
6.3

Euro area accounts
Euro area
Households
Non-financial corporations

19
20
21

7
7.1

Euro area government finance
General government revenue, expenditure, deficit/surplus and
borrowing requirement
General government debt

22
22

Monetary policy
Key ECB interest rates
Eurosystem monetary policy operations allotted through tender
procedures
Monetary developments in the euro area
Counterparts of euro area monetary aggregates
Euro area investment fund shares issued by investment policy

24
25
26
27

7.2
8
8.1
8.2
8.3
8.4
8.5

ECB • Statistics Pocket Book • January 2013

ECB • Statistics Pocket Book • January 2013

23

3

3

8.6
8.7
8.8
8.9

Euro area financial vehicle corporations
Euro area insurance corporations and pension funds
Euro area minimum reserve statistics
Assets of the banking system and selected non-bank financial
intermediaries of the euro area
8.10 EU consolidated banking data
9
9.1
9.2

Financial market developments
Securities issued by euro area residents: outstanding amounts
Debt securities issued by euro area residents: gross issues, redemptions
and net issues
9.3 Euro-denominated debt securities issued by euro area residents:
outstanding amounts and annual growth rates by sector of the issuer
9.4 Quoted shares issued by euro area residents: outstanding amounts and
annual growth rates by sector of the issuer
9.5 Money market interest rates
9.6 Interest rates implied by 3-month EURIBOR futures
9.7 Euro area yield curves
9.8 Spreads between swaps and government bond yields
9.9 Stock market indices
9.10 Euro area sectoral stock market indices
9.11 Euro area MFI interest rates on deposits
9.12 Euro area MFI interest rates on loans
10
Payment and settlement systems
10.1 Transactions involving non-MFIs by type of payment instrument
10.2 Payments processed by selected interbank funds transfer systems
in the EU
11
11.1
11.2
11.3
11.4
11.5
11.6

Selected indicators for EU Member States
Scoreboard for the surveillance of macroeconomic imbalances
HICP
GDP
GDP per capita and gross value added by economic activity
Unit labour costs
Harmonised competitiveness indicators and real effective exchange rates
based on consumer price indices
11.7 Population and employment
11.8 Unemployment
11.9 General government deficit/surplus
11.10 General government debt
11.11 General government expenditure
11.12 Private sector debt
11.13 Private sector credit flow
11.14 Gross external debt by sector
11.15 Harmonised long-term interest rates for convergence assessment
purposes
11.16 Relative importance of the main payment instruments

4

4

27
27
28
28
28
29
29
30
30
31
31
32
32
33
33
34
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52

ECB • Statistics Pocket Book • January 2013

ECB • Statistics Pocket Book • January 2013

.p.f.b.i. insurance and freight at the importer’s border Continuous Linked Settlement system Directorate-General for Economic and Financial Affairs. provisional seasonally adjusted ECB • Statistics Pocket Book • January 2013 5 ECB • Statistics Pocket Book • January 2013 5 .Country abbreviations BE BG CZ DK DE EE IE GR ES FR IT CY LV LT LU Belgium Bulgaria Czech Republic Denmark Germany Estonia Ireland Greece Spain France Italy Cyprus Latvia Lithuania Luxembourg HU MT NL AT PL PT RO SI SK FI SE UK JP US Hungary Malta Netherlands Austria Poland Portugal Romania Slovenia Slovakia Finland Sweden United Kingdom Japan United States Other abbreviations b." "." not applicable not available nil or negligible "billion" "trillion" 109 1012 (p) s.i. CLS DG ECFIN EER EONIA EU EURIBOR f.o. BIS c.o.. IMF IRF LIBOR MFI OECD PPP SDRs TARGET UMTS balance of payments Bank for International Settlements cost.p.a. European Commission effective exchange rate euro overnight index average European Union euro interbank offered rate free on board at the exporter’s border gross domestic product households’ gross disposable income Harmonised Index of Consumer Prices international investment position International Monetary Fund initial rate fixation London interbank offered rate monetary financial institution Organisation for Economic Co-operation and Development purchasing power parity special drawing rights Trans-European Automated Real-time Gross settlement Express Transfer system Universal Mobile Telecommunications System Conventions used in the tables "-" ". GDP HGDI HICP i.

methodologies and descriptions of metadata are available in the ECB’s Statistical Data Warehouse (SDW). A "Data" icon under every page displays the underlying series. euro area statistical series take into account the changing composition of the euro area. Japan and China The HICP for the European Union refers to the composition of the EU as at the time to which the data relate. Ireland. the United States. In general. Aggregated statistical series with a changing composition take into account the composition of the euro area at the time to which the statistics relate. or contact statistics@ecb. Absolute changes for monetary aggregates and their counterparts (transactions) refer to the composition of the euro area at the time to which the statistics relate. For the HICP. For this issue.e. France. forming the Euro 15. taking account of the changing composition of the euro area. monetary statistics. the components and counterparts of M3 and the components of the HICP). Portugal and Finland. the euro area comprised the following 11 countries (the Euro 11): Belgium. and Slovakia joined in 2009. The latest available data for the series published in the Pocket Book are presented in a "page-by-page" report in the "Reports" section of the SDW. forming the Euro 13. Greece then joined in 2001. regardless of the composition at the time to which the statistics relate.europa. Germany. The European Union. Austria. Data for China published in the Pocket Book refer to the mainland of China.europa. the euro area including Estonia) for the whole time series. The composition of the euro area has changed a number of times over the years. From October 2012. at http://sdw. Cyprus and Malta joined in 2008. Euro area statistical series Unless otherwise indicated.eu. forming the Euro 16.eu). Online access to data and metadata For series included in the Statistics Pocket Book. These data can be downloaded in several user-friendly formats.ecb. the euro area statistics also include the European Stability Mechanism. Italy. the Netherlands. with joining countries’ series linked to the euro area series in the December index. Spain. A comprehensive and detailed glossary on the statistics can also be found on the website. all data series including observations for 2011 relate to the "Euro 17" (i. Further information All issues of the Pocket Book are available online in the "Publications" section of the ECB’s website (www. Slovenia joined in 2007. bringing the number of euro area countries to 17. For interest rates. For additional information see the "Euro area statistics" section of the ECB’s Monthly Bulletin and the "Statistics" section of the ECB’s website. an international organisation resident in the euro area for statistical purposes. More information on this and related topics is available in the "Help" section of the SDW.eu. Estonia joined in 2011.General information The Statistics Pocket Book is updated monthly. forming the Euro 12. the cut-off date for the statistics included in the Pocket Book is the day preceding the Governing Council of the ECB’s first meeting of the month. When the euro was introduced in 1999. Percentage changes are calculated on the basis of a chain-linked index. the HICP and reserve assets (and. as well as monetary aggregates and their counterparts.europa. annual rates of change are compiled from chain-linked indices.ecb. for consistency reasons. it was 9 January 2013. 6 6 ECB • Statistics Pocket Book • January 2013 ECB • Statistics Pocket Book • January 2013 . Aggregated statistical series for fixed compositions of the euro area relate to a given fixed composition for the whole time series. Luxembourg.

4 24.7 72.4 11. 45.3 436. Chinese data follow a different methodology and are not directly comparable.4 13.4*) 18.2 85.7 98. IMF and national sources.2 26.5 37.2 0.2 .5 71.6 12.6 -26.7 25.8*) 30.o.9 312.1 10.4 78.6 25.5 -4.8*) 1.0 17. .6 1.8 16.8 99.4 99. ECB • Statistics Pocket Book • January 2013 7 ECB • Statistics Pocket Book • January 2013 7 .2 6.1 Structural indicators 2011 1) Unit Population.4 -10.3 49.8 68.8 2.7 13.europa. 16.3*) -8. direct and portfolio investment % of GDP Net i.6 Sources: For the euro area and EU: ECB. 8.2 0. 10.8 72.5 20.9 1.9 18.1 Overview of major economic areas 1.6 14.ecb.4) % of GDP External Exports of goods and services % of GDP Imports of goods and services % of GDP Current account balance % of GDP Net b.2 22.3 50. .2 -0.4 11. 0.7 100.2 15.4*) 188.9*) 133. 2) Figure as at year-end.7 -3.i.4*) 67.3 .4 82.4 2. *) 2010 figures. 1) Full definitions are available in the glossary on the ECB’s website (www.6 172.1 9.1 17.4 502.4*) 23. .7*) Japan China 127. national data and ECB calculations. 3) Data for the United States and Japan are based on definitions similar to those used for the euro area and the EU.5 67.9 99.9 39.5 27.8 1.2 .1 87.1 1.0*) 78.2 121.3 26.2*) .3 14. .2) % of GDP Gross external debt2) % of GDP Monetary and financial indicators EUR trillions Credit2) Outstanding debt securities4) EUR trillions Stock market capitalisation2) EUR trillions Euro area EU United States 332.0 3. fishing and forestry % of total Industry (incl.4 301.6 2.1 73.6 491.5 3.8 17.6 2. .8 25.1 15.2 73.0 13.2 24.4 16.0 71.7 25.0 117.9 54.3 -14.6 7.2 12.1 -4. GDP and labour Total population millions Labour force participation rate % Age dependency ratio % GDP (PPP) EUR trillions GDP per capita (PPP) EUR thousands Labour productivity (PPP) (euro area = 100) Labour income share % Value added by economic activity Agriculture.3 111. Eurostat. .9 19.5 12.5 2.7 103.2*) 20.6 8.7 19. construction) % of total Services % of total Saving and investment Gross saving % of GDP Gross fixed capital formation % of GDP Households HGDI per capita (PPP) EUR thousands Gross saving % of HGDI Financial assets held2) % of HGDI Gross debt outstanding2) % of HGDI Non-financial corporations Gross fixed capital formation % of GDP % of GDP Financial assets held2) Gross debt outstanding2) % of GDP Government Expenditure % of GDP Surplus (+) or deficit (-) % of GDP Gross debt outstanding2).0 51.2 38.9 1.2 25.8 .1*) - 1.9 -4. . 4) At nominal value.0 11.1*) 46.5 49.4*) 78. 49.9 -1.6 88.1 28. 29.0 27.8 58.6 .3 49.5 8.8 -14.1 17.0 24.8*) 43.eu).4 72.p.1*) 19.4 . for the United States.3 173.0 18.1 10.0*) 91.2 19. Japan and China: BIS.3).p.348.

18 1. - 6.1 2.a.6 17.8 .4 . 4.9 8. .1 . 2. -0.1 8.4 2011 2012 2012 Q3 Q4 2012 Nov.7 . . .1 . - - - 3.) (% per force.91 2. - -0.7 .6 1. 1.4 2.9 1. 11.7 10. 8 ECB • Statistics Pocket Book • January 2013 8 ECB • Statistics Pocket Book • January 2013 .9 2.ecb.3 -0.34 0. . 11.7 .8 . 1.5 . 1) Full definitions are available in the glossary on the ECB’s website (www.5 10. 3.3 0.79 1. 0. -0.6 .6 15.48 3.70 .5 . national data and ECB calculations. 4.a.6 2.74 0. labour ment productbond costs (% of ivity yield (s. 1.6 - 2.4 . -2.1 .3 . 0.8 . 7.1 .2 .8 .32 0. Dec.9 1.1 1.2 .74 .6 . 7.a.6 7. - 8.2 1.36 0.1 .) 1) ConBroad 3-month sumer money 2) interbank prices deposit rate (% per annum) Euro area 2011 2012 2012 Q3 Q4 2012 Nov.3 .7 .2 .3 5. - -1. - - European Union United States Japan China Sources: BIS. 0. 2011 2012 2012 Q3 Q4 2012 Nov.7 2. 20.0 -0. unless otherwise indicated) Real GDP GDP deflator (s.10 1.5 .8 7.1 .36 .1. IMF.69 1.20 0.2 - 7. . 3.) labour (s. 1.1 - 9.7 .1 3.9 .82 4. 1.25 2.2 Main recent economic developments (annual percentage changes.2 2.5 -0.19 0. - 2. United States: M2.71 1.5 .22 2.5 2.2 .5 2. 1.4 .85 0.a.1 4.4 10.3 9.19 0.76 1. 4. s.7 .31 2. 1.06 2.97 3.19 0.19 4.4 1.6 .30 3.31 3.3 2.6 2.46 3. Japan: M2 + certificates of deposit.5 1. Dec.0 7.) annum) 1.4 . - 3. - 2010 2011 2012 Q2 Q3 2012 Oct.3 1. .19 0. 1. - 1.eu).75 0.89 3.8 7.0 . -0.34 3. - 10.3 .1 4. OECD. 2.24 -0. Eurostat. - 3.Labour gov. 2) Euro area: M3.europa.0 1.65 1.6 2.63 1. 1.57 - 4. 1.8 0. . -0. Nov.39 0.12 0.3 .1 . 0.19 0. 3. 2.43 0.58 0.1 .31 0. -0.2 .66 3.7 .9 19.5 - 10-year Unit Unemploy.7 2.2 .6 . . 10. - 4.7 10. 3.2 2010 2011 2012 Q2 Q3 2012 Oct.4 - 1.80 0. 0. Nov. Dec.19 0. 2.6 9.4 . . - 2. 2.0 .43 0.9 .

1 -0.a.1 -0.2 63.3 -0.6 0.4 -1.9 -0.7 71.6 0.2 -1.2 2.9 0.5 0.7 310.5 -1.9 0.4 331.5 0. force.8 -0.7 129.7 0.0 .7 147.8 -1. .5 0.5 0.2 -3.4 -1.5 0. national data and ECB calculations.4 0.0 .5 64.2 -0.4 -0. .3 -1.8 146.2 0.) s.1 -1. 1) Ratio of the labour force to the working age population (i.8 -0. 1. 62.1 -0.0 0.0 1.a.5 0.6 10. national data and ECB calculations.0 2.0 Hours worked (s.4 146.6 -0.5 64.0 147.1 1.5 71.5 0.5 1. .2 0.7 -0.4 0.1 0.5 319.0 0.2 1. . the population aged 15 to 64).6 -0.2 10.1 1.5 0.0 0.2 Population and the labour market in the euro area 2.4 0. 4.3 64.6 9 9 .3 146.0 -1.0 9.3 11.9 Annual percentage changes Selfemployed Per person employed -1.4 -0.7 1.2 0.0 0.5 Labour productivity per person employed (annual percentage changes) Hourly labour productivity (annual percentage changes) 2.2 -1.7 0.6 0.3 -1.a.7 147.7 0.9 -0.8 330.6 64.9 10.1 0.2 Employment in terms of persons employed and hours worked Persons employed (s.4 332.7 0.6 -0.4 71.7 -0.3 0.9 -1.7 9.5 1.1 Population and the labour market Population (millions.) Millions Total Employees 1971-80 1981-90 1991-00 2001-05 2006-10 2009 2010 2011 2011 Q2 Q3 Q4 2012 Q1 Q2 Q3 116.6 120.4 71.2 64. .5 64.) 68.9 0.6 -1.1 -1.1 Sources: European Commission (Eurostat and DG ECFIN).8 -0.9 0.) Annual percentage changes 0.5 -0.9 64.8 -0.8 1.9 Total Employees 0. annual averages) 1971-80 1981-90 1991-00 2001-05 2006-10 2009 2010 2011 2011 Q2 Q3 Q4 2012 Q1 Q2 Q3 288.8 8.1 -0.3 146.1 1.4 147.7 72.6 2.3 9.5 64.9 Selfemployed Sources: European Commission (Eurostat and DG ECFIN).5 -0.0 -3.7 -0.5 0.9 0.9 1.4 -1.4 .7 0.9 141.1 0.2 -0.2 9.3 1.7 -1.4 298.3 -1.a. (%) s.5 -1. ECB • Statistics Pocket Book • January 2013 ECB • Statistics Pocket Book • January 2013 0.9 11.2 -0.1 -0.0 -1.0 -1.4 -1.5 -0.6 0.1 10.1 71.4 -0.5 71.1 -0.8 8.7 -0.9 147.4 -2.3 0.6 10.5 -1.8 71.1 146.4 0. Labour Employment Unemployforce rates ment partici(% of (% of pation labour labour rate 1) force.e.9 328.6 71.

4 -0.5 2.1 -0. business and social and other work services .1 -0.2 1.6 -1.378.4 3. transport.0 1.9 1.2 1.0 1.9 19.4 1.7 19.2 -0.6 -0.4 0. 2. quarterly data.5 3. health tion.7 -0.7 0. edu.0 100.1 -0.2 0.0 Level data (EUR billions at current prices) and percentages of gross value added Source: Eurostat.5 -1.1 1.9 Finance Public admini.3 -0.1 19.9 - Level data (EUR billions at current prices) and percentages of GDP 2011 2011 Source: European Commission (Eurostat and DG ECFIN).2 0.9 0.0 4. Industry forestry (including and fishing construction) 1996-00 2001-05 2006-10 2.8 21.447.5 3.5 -0.1 1.2 6. quarterly data.1 4.1 -11. -0.9 0.7 2.5 1.2 1.2 -0.4 2.0 2.3 1.7 2.1 and 4. 5.1 1.0 -0. seasonally and partly working day-adjusted) GDP (market prices) 1971-80 1981-90 1991-00 2001-10 Total (quarter on quarter) Total - 3.0 -11.9 1.6 0.0 -0.4 2.030.3 -4.3 1. 1.8 0.1 - 2009 2010 2011 2011 Q4 2012 Q1 Q2 Q3 Private Government Gross fixed consumption consumption capital formation Exports of goods and services 1) Imports of goods and services 1) 3.2 -1. 1) Includes intra-euro area trade and therefore differs from Tables 4.3 18.3 -0.6 4.1 -0.1 9.8 16.1 3.6 0.3 25.2.1 -0.8 1.1 -12.5 -3.7 0.9 0.9 - 4.4 57. seasonally and partly working day-adjusted) Gross value added (basic prices) Total Agriculture.804. and real stration.1 GDP and expenditure components (annual percentage changes in volume.4 2011 2011 Trade.1 -1.9 2.518.8 6.1 -1.1 6.7 0.149.1 100.3 0.1 -0.1 2.4 0.7 -0.0 0.9 8.8 .4 2.4 2.631.9 .4 0.4 2.5 0.3 2.5 -0. 1.5 -1.3 2.0 -0.3 1.0 5.9 -4.4 -4.1 1.3 1.0 -0.632.3 0.7 0.6 0.6 -0.2 1.communicaestate cation.4 11.3 Euro area macroeconomic indicators 3.8 -1.7 1.013.407.9 0.6 1.7 1.5 0.8 0.421.7 -4.1 0.8 -2.7 9. 10 ECB • Statistics Pocket Book • January 2013 10 ECB • Statistics Pocket Book • January 2013 .4 2.9 5.3 3. 1.2 0.1 0.5 4.7 -1.5 0.9 3. accommodation and food services .4 2.6 6. unless otherwise indicated. 1.2 -12.0 -1.2 .4 2.1 1.Information.4 2009 2010 2011 2011 Q4 2012 Q1 Q2 Q3 -4.2 -0.0 1.2 4.3 -3.6 0.0 1.6 2. unless otherwise indicated.8 1.3 1.4 .2 Value added by economic activity (annual percentage changes in volume.3 1.143.0 143.

7 0.8 80.6 .4 -3.9 4.5 -15. ACEA (European Automobile Manufacturers’ Association) and ECB calculations.4 46.1 46.2 46. a value of 50 indicates "no change".6 -1. unless otherwise indicated) Industrial production Total excl.indicator dence indicator for manu.8 -5.4 -6.3 10.8 - .3 -15.9 -2.8 -0.2 46.1 -11.1 45.7 55.7 Dec.2 Sources: Eurostat. -0.9 -8.0).6 -6. ManuManu.4 Q4 85.5 2010 100.1 8. .8 -12.7 54.4 -11. Period on period (s.8 -12. construction 1991-00 2001-10 2009 2010 2011 2012 Q1 Q2 Q3 2012 Sep.4 .a. no change (0.5 5.9 46.9 -8.3 2012 Q2 91.3 -14.9 -18.3 -4.6 -3.4 -6.1 -5.9 -16. .2 -1.8 -2. ECB • Statistics Pocket Book • January 2013 11 ECB • Statistics Pocket Book • January 2013 11 .5 0. . 4.2 -1. Nov.8 Sources: European Commission Business and Consumer Surveys and Markit.8 .5 -22.Managers’ activity indicator Industrial Order Capacity dence confidence Index (PMI) for (long-term confi.3 -13.8 -1.3 -15.9 -0.7 2012 Oct.0 -1.5 2011 101.4 52.9 -9.4 -1.3.3 -2.0 2012 89.3 -11.6 46.9 -4.3 Nov.9 47. 87. 78.4 -24.3 -22.8 17.2 -2.0 -8.5 3.2 -14.services average dence tion indicator facturing =100) 3) indicator (%) 4) 1991-00 100.7 -6.4 -18.0 46.5 -17.2 45.5 -1.3 3.6 -1. 1.7 -24. Oct. .8 0.5 -16.9 -25.0 -15.8 -10.) ConManustruction facturing -0.4 -14.4 .5 -0.0 -26.1 -22. 85.1 .7 47. 0.9 1.5 .8 -3. 50.0 -0.4 0.1 -32. 1.4 -2.0 -15.8 80.5 -15.1 -14.4 -25.4 45.4 -2.5 52.8 -4.0 -7.5 -1.6 -5.1 -11.4 .5 .9 -26. .8 -1.7 81.Retail trade New facturing facturing turnover passenger new orders turnover (constant car (nominal) (nominal) prices) registrations discontinued 1.7 8.7 4.1 -31.0 -10.5 -2.7 0.1 -0.3 -1.5 2001-10 98. 3.7 -26.1 Q3 86.9 -29.1 -15.4 Opinion surveys (excluding price-related developments) (seasonally adjusted) European Commission Business and Consumer Surveys (percentage balances 1) ) Purchasing Managers’ Surveys (diffusion indices 2) ) Economic Manufacturing industry Services Retail Consumer Purchasing Business sentiment confitrade confi.6 -18.9 45.5 -19. A value of 100 (0) indicates that all respondents reported an increase (decrease).4 -33.9 .0 -35.8 77.6 47.8 -2.5) or a decrease (0) for each survey variable. 2) Weighted sum of the percentages of survey respondents reporting an increase (weight: 1.9 -15. 84.3 -12.3 Short-term business indicators (annual percentage changes.1 .3 -8.0 -14.3 -3.6 0.9 -6.0 -3. 3) Values above (below) 100 indicate above (below) average economic sentiment.6 -12.books utilisa.1 -12.9 7.7 76. 52. 76. 1.3 -14.9 7.6 -3.7 -4. 4) The quarterly figures shown are averages of two successive surveys. 1) Difference between the percentages of respondents giving positive and negative replies.0 -17.

4 3. 270.2 -6.2 as a percentage of GDP 12-month cumulated transactions 12-month cumulated transactions as a percentage of GDP 4.9 281. not seasonally adjusted.b.745.2 34.7 27.8 26.5 37. 1.1 251.8 9.5 9.1 334.6 5.0 .6 8.5 6. 19.8 6.9 9.6 19.5 6.6 3.1 5.2 72. 129. Oct.3 .550.9 46.2 -0.9 3. 100 1.8 -4.1 416.4 31.8 12.0 12.4 227. seasonally adjusted) Total Other EU Member States United Kingdom Other United States China Japan Other Other Asian countries countries Exports (f.9 11.3 -0.5 1.6 39.3 365.2 -2.8 -1.8 1.533.5 .2 -1.8 0. Oct.4 -0.7 -19.3 23. 1. Current transfers -108.1 94.1 -7.9 23.1 0.3 -113. 11.2 0.1 158.9 2012 Oct.2 -106.8 -29.9 -16.3 .9 .6 453.5 -13.3 0.8 -149.5 17.0 37.5 -38.1 1.2 Trade in goods with main partners (EUR billions.1 119.2 -0.3 26.6 1.0 7.5 -0.1 .0 -10.8 .2 0.8 2. unless otherwise indicated.3 18.4 2012 Oct. Sources: Eurostat and ECB calculations.5 17.4 52. Oct.9 147.5 -0.4 Euro area external statistics 4.i. Current and capital accounts Goods Income and services 10.9 24.8 1.8 166.1 -6.7 2010 2011 Source: ECB.9 -8.8 13.1 -7.0 12.6 180.3 18. 91.) % of total in 2011 100 9. -17.9 -0.2 309.8 -13.7 213.6 43.8 -9.3 -1.6 -30. Imports (c.3 163. Trade balance 12 ECB • Statistics Pocket Book • January 2013 12 ECB • Statistics Pocket Book • January 2013 .1 147.0 399.5 -30.o.9 14.0 43.1 Balance of payments (EUR billions.0 16.8 -0.8 140.5 -10.8 -103.9 46.5 23.1 0.2 22. unless otherwise indicated. 50.0 34.8 59.3 34.) % of total in 2011 2010 2011 2012 Sep.6 200.2 291.6 16.9 16.7 12.1 156.3 Combined direct and portfolio investment Financial Other Reserve derivatives investment assets 29.7 2010 2011 2012 Sep.5 4.6 .9 -35.9 .0 1.8 208.1 148.9 1.0 23.0 13.7 -4.6 218.6 51.2 194.1 22.8 115.8 3. net transactions) 2010 2011 2012 Oct.7 -110.1 0.8 234.758.7 0.f.4 3. 2010 2011 2012 Sep.1 65.4 -4.3 41. 20.1 -0.6 -0.

9 97.8 -3.2 231.0 1.4 119.2 19.9 16.8 67.2 105.5 -0.9 -0.7 8.1 -80.3 -19.1 -12.0 2.6 123.7 5.6 -6.0 964.2 5.8 4.0 0.0 -14.5 -149.7 14.8 37.4 201.0 19.4 0.9 71.3 46.3 -30.0 413.7 -9.3 44.3 142.6 528.4 -13.0 29.5 -4.2 -125.7 115.4 6.0 1.5 6.2 -47.4 148.3 -17.8 -0.9 -6.4 6.3 -4.5 20.8 451.4 0.6 -145.6 0.7 7.7 84.5 576.0 -352.0 -73.8 117.7 15.2 -4.3 9.1 -1.962.8 150.3 21.9 44.5 88.3 99.3 0.4 -16.3 14.0 389.0 -10.2 7.2 3.1 -36. ECB • Statistics Pocket Book • January 2013 13 ECB • Statistics Pocket Book • January 2013 13 .5 -164.7 -154.8 -1.2 Credits 63.2 43.6 Debits 107.2 4.7 15.3 29.7 0.3 -96.6 6.0 0.9 -91.United China Member States land States 2011 UK Current account Goods Services Income Current transfers Capital account 2.8 -408.5 18.8 -105.5 -61.9 157.5 25.6 -0.1 -55.4 1.5 -94.3 93.5 -9.8 178.7 -9.7 196.4 8.766.7 0.3 0.0 -105.4.4 210.4 -12.9 -1.8 44.1 0.3 0.4 9.8 201.0 233.1 1.2 -1.2 -5.4 12.7 177.3 -1.4 -31.5 1.0 12.4 94.9 11.5 9.775.2 0.9 110.7 565.0 -19.8 14.7 24.6 5.1 21.975.4 133.1 0.1 11.4 0.9 -83.5 2.3 -12.3 -3.4 40.8 -1.3 -66.5 2.7 -67.3 -3.5 128.7 8.5 29.2 51.1 7.2 -80.6 6.9 390.0 12.5 13.9 -56.5 4.4 Net -44.6 52.1 -3.7 60.8 -2.3 -41.1 -21.2 87.2 -19.4 13. not seasonally adjusted) Total Other EU Japan Switzer.0 1.4 490.2 Current account Goods Services Income Current transfers Capital account 2.5 0.4 30.2 509.9 5.1 0.5 935.5 46.0 39.3 75.7 23.8 42.3 Geographical breakdown of the balance of payments (EUR billions.9 28.3 9.2 -1.9 -12.5 1.2 67.2 5.0 9.4 9.4 485.2 7.7 185.2 11.0 6.6 18.0 11.0 -106.9 Source: ECB.1 -0.8 253.7 1.5 59.3 -71.5 46.0 -38.0 135.8 32.3 -82.5 62.0 -122.7 36.6 1.0 14.1 283.2 -1.3 -1.8 0.7 -128.2 Current account Goods Services Income Current transfers Capital account Financial account Direct investment Abroad Equity/reinvested earnings Other capital In the euro area Equity/reinvested earnings Other capital Portfolio investment assets Equity Debt securities of which: Bonds and notes Other investment Assets of which: MFIs Liabilities of which: MFIs -154.8 42.7 40.

4 1.0 -2.5 -2.0 19.9 -1.172.334.762.6 197.7 United States China 40.7 20.470.2 2.9 6.3 699.811.5 275.8 205.2 5.907.481.499.3 Japan Switzerland -22.0 19.0 2.9 743.033.7 5.7 -13.392.2 1.4 -19.9 1.6 46.0 18.048.5 473.6 2.4 2.6 -32.0 90.7 192.564.8 Reserve assets 587.3 5.4 400.3 207.8 1.054.4 117.2 15.050. unless otherwise indicated.5 182.6 4. 1.6 1.3 5.9 19.3 102.703.5 7.946.2 85.3 1.7 416.6 11.847.5 46.3 4.052.7 7.6 1.5 587.626.392.8 1.6 2010 2011 2012 Q1 2012 Q2 18.8 124.7 4.6 Outstanding liabilities 3.1 1.9 1.172.8 2010 2011 2012 Q1 2012 Q2 16.4 International investment position (EUR billions.049.1 68.7 -8.6 61.2 Source: ECB.807.5 - 4.8 -243.8 14 ECB • Statistics Pocket Book • January 2013 14 ECB • Statistics Pocket Book • January 2013 .3 -252.8 4.1 74.225.7 203.129.541.044.773.2 701.3 5.4 671.0 -836.1 260.762.5 80.6 184.6 198.2 88.7 4.6 5.763.5 4.6 30.6 1.4 3.497.808.8 855.144.6 2.6 -291.8 1.885.0 828.129.557.8 763.563.777.8 -287.1 257.0 73.9 5.0 191.6 629.2 Outstanding assets 4.214.9 341.7 4. outstanding amounts at end of period) Total Other EU Member States 2011 Direct investment Abroad Equity/reinvested earnings Other capital In the euro area Equity/reinvested earnings Other capital Portfolio investment assets Equity Debt securities of which: Bonds and notes Other investment Assets of which: MFIs Liabilities of which: MFIs Source: ECB.195.0 22.0 273.037.4 412.377.4.7 18.636.7 4.1 1.0 -10.103.230.5 5.012.314.0 1.0 394.636.9 1.6 76.1 332.0 1.280.9 4.5 5.873.436.9 3.4 130.877.908.1 20.8 Net international investment position 1.1 1.6 7.059.9 19.7 -2.024.7 208.1 339.617.3 -1.877.328.4 16.063.9 59.004.4 228.7 -24.224.9 -24.592.9 -252.757.4 -75.7 1.2 526.2 4.3 2.7 4.226.128.4 671.276. outstanding amounts at end of period) Total Total Direct as a % investment of GDP Portfolio investment Financial derivatives Other investment 2010 2011 2012 Q1 2012 Q2 -1.2 1.0 18.042.6 131.2 1.159.446.038.9 789.5 256.5 53.647.5 2.5 -154.564.099.8 4.262.1 1.1 553.2 701.7 3.8 663.1 253.8 96. 5.5 Geographical breakdown of the international investment position (EUR billions.219.8 236.2 5.3 5.4 1.4 125.148.0 -13.0 1.0 164.8 1.0 3.082.1 -376.3 10.195.4 5.7 1.005.9 99.6 52.6 2.9 UK 11.9 2.818.9 1.0 63.2 776.0 2.337.8 1.044.5 48.9 729.308.8 663.9 1.1 -2.0 7.723.2 3.536.8 -14.931.224.668.

2 59.5 36.142 16. see the "Statistics" section of the ECB’s website (www.4 -1.180 346.4 591.3 55. Memo items Monetary gold Other Predetermined foreign short-term currency net assets drains on foreign currency 50.1 366.94 109.3 -24.2 51.0 US dollar Japanese yen 1.6 42.4 97.142 16.4 64.europa.6 0.8 61.12 103.7 2) 2) Bilateral exchange rates 100.6 -1.8 -0. under "Exchange rates".4 40. Dec.7 3. 2) A positive change denotes an appreciation of the euro. outstanding amounts at end of period) Reserve assets Total In EUR billions SDR Reserve Foreign holdings position exchange In fine in the claims troy IMF ounces (millions) Eurosystem 2009 2010 2012 Q1 Q2 2012 Oct.2 -24.2 266.8 347.9 97.7 0.0 Sources: ECB and BIS.4 106.1 63. ECB • Statistics Pocket Book • January 2013 15 ECB • Statistics Pocket Book • January 2013 15 .7 0.3 93.2502 1.1 26.962 346.1 -0.7 460.2967 1.142 Source: ECB.5 715.6 93.6 32.9 155.1 -0.825 346.8 95.4 32.0 0. Nov.1 ECB 4.9 -39.7 0.8 97.1 41.ecb.7 0.2 3.9 33.5 -0.8 42.2 Real 1) 97.1 107.1 20.4 -0.0 -0.2 96.2 52.5 21.8 95.8 718.5 54.3 5.2848 1.9 134.6 20.5 7.2 671. For more information on EERs.8 4.6 10.1 107. Nov.0 169.4 21.0 64.7 Nominal 112.96 102.2 98.142 16.4 33. 462.5 1.7 -41.8 95.5 15.30 105.0 0.5 37. unless otherwise indicated.2 431.8 38.5 2.8 4.3119 110.9 53.2 701.7 Exchange rates (period averages) Effective exchange rate of the euro (1999 Q1 = 100) EER-20 2011 2012 2012 Q3 Q4 2012 Nov.0 0.122 16.0 105.7 95.1 % change versus previous year EER-40 Real 1) 103. Nominal % change versus previous month 2012 Dec. 56.3 53.9 -1.0 155.4 0.7 0.0 19.71 1.0 -39.8 30.9 3.6 94.2828 1.0 170.6 International reserves of the Eurosystem and the ECB (EUR billions.847 346.8 173.3 4.eu).7 108.5 16. 1.5 2012 Dec.9 17.6 1.0 0.49 98.1 0.7 440.8 54.0 0.693 346.6 92.1 92.4 -42.3 458.4.3920 1. -2.9 91.0 39. 1) Real EERs are calculated using consumer price indices.694 2010 2011 2012 Q1 Q2 2012 Oct.143 16.

6 25.9 1.0 2.5 13.5 54.2 The impact of inflation on the purchasing power of money (decrease in the purchasing power of money after x years at a given inflation rate.9 3.2 12.1 14.2 1.8 6.1 0.5 2.5 97. percentages) Inflation rate Year 1 2 3 4 5 6 7 8 9 10 15 20 Source: ECB calculations.1 0.6 61. 2.1 0.6 42.9 Non-energy industrial goods Energy 28.7 21. 1.2 0.1 1.4 25. 0.1 0. The weights shown refer to the current year.6 2.6 9.5 11. Nov.0 2.0 25. 0.5 0.7 32.3 35.5 17.8 59.4 76.9 4.1 3.5 11.1 11.9 29.6 0.8 7.6 17.6 9.0 7.6 51.3 18.0 1.2 1.1 0.3 10.1 3.5 Prices in the euro area 5.8 0.4 2.8 21.5 2.4 5.0 2.8 0.2 Services Housing 2) 0.1 Sources: Eurostat and ECB calculations.5 38.3 57.1 3.4 28.6 2.2 1.0 3.0 3.9 18.3 1.7 2.9 5.8 1.7 3.8 7.0 2.3 .7 16. Nov.7 7. 3) 2012 Sep. 5.7 80.1 1.0 4.4 0.0 26.6 8.8 3.9 2.8 0.1 2.7 21. 100.4 .1 0.6 48.0 2.1 2.0 9.7 2.4 16 ECB • Statistics Pocket Book • January 2013 16 ECB • Statistics Pocket Book • January 2013 .2 2.8 1.1 17.4 44.7 8.8 .4 2. Oct.6 3.5 72.8 44.7 1.1 23.4 2.2 0.7 53.4 24.0 1.4 11.4 41.0 3.7 5.7 16.7 32.0 10.0 1.6 35.3 0.2 0.7 0. 1.6 4.4 2.9 31.2 1.5 11.5 -1.7 0.0 24.8 93. as well as early information on energy prices.1 0. 1.9 3.2 0. 4. 1) Data refer to the changing composition of the euro area.1 -0.2 2.3 4.1 2.1 .2 1.4 0.4 0.1 51.9 14.9 43.2 13.5 0.4 11.1 HICP 1) (annual percentage changes.8 1.1 76.8 9.7 30.9 32.9 7.7 8.7 37. for further information see page 6.0 1.3 2. except energy) 0.0 16.9 0.3 1.0 2.5 Month-on-month percentage changes (seasonally adjusted.8 66. 2) Excluding owner-occupied housing.8 -8.9 5.7 3.0 5. 3) Estimate based on provisional national releases (which usually cover around 95% of the euro area).9 5.9 2.3 2.0 0.9 62.6 1. unless otherwise indicated) HICP Total Food Processed Unprocessed food food % of total 1996-00 2001-05 2006-10 2009 2010 2011 2012 2012 Oct.1 -0.1 20.8 .3 18.6 1.8 1.3 13.6 2.1 0.4 1.6 2.7 1.9 .1 7.1 85. Dec.1 1.2 19.6 83.

1 1.9 3.0 2.7 66.9 0.5.1 ECB • Statistics Pocket Book • January 2013 17 ECB • Statistics Pocket Book • January 2013 17 .5 Purchasing Managers’ Surveys (diffusion indices 2) ) Consumer Input prices Prices charged price trends (compared with previous month) over past 12 months Manufac.3 5.1 52.4 6.1 4.1 3.0 40.f.0 2.0 -0. construction.5 50.2 -2.7 54.8 39.9 49.1 6.5 1.7 2.3 3.1 13.1 6.5 Sources: Eurostat.7 51.6 6.5 1.4 -1.2 4.4.8 0. mainly because they exclude cross-border trade within the euro area and all services.1 3.6 54.5 39.9 57.8 47. 1) Experimental data.7 -9.3 -0.3 -2.7 3.2 1. 1.9 1. 49.4 -0. ECB calculations and national data.1 1.8 49.8 2.7 54.3 0.Residential tion property (input prices 1) Total Inter. 2) See footnote 2 of Table 3.0 5.7 49. residential property.5 .Services Manufac. 2.1 3.1 46.2 1.3 5.1 55.8 -1. 1.4 Price-related opinion surveys (seasonally adjusted) European Commission Business and Consumer Surveys (percentage balances 1) ) Selling price expectations (for next 3 months) 1991-00 2001-10 2010 2011 2012 2012 Q2 Q3 Q4 2012 Oct. export and import prices (annual percentage changes) Industrial producer prices excluding construction Construc.7 2. Nov.8 1.7 2.3 57.2 -5. Manufacturing 5.5 5.6).0 .3 2.9 6.0 1.3 55.3 0.5 2.2 -5.) 2) .6 53.1 38.5 47.3 1.9 2.7 52. Nov.6 1.5 Retail trade Services 1.7 2.8 8.2 0. 2) These indices differ from the GDP deflators used for imports and exports (which are shown in Table 5.9 0.7 1.4 4.5 2.5 49.4 1.9 5.Capital Consumer Energy prices) mediate goods goods goods 2001-05 2006-10 2009 2010 2011 2012 Q1 Q2 Q3 2012 Sep.9 48.3 1.0 2.1 2.7 53.4 47.5 9.6 2.9 0.9 0.2 - 6.6 2. - Industrial producer export prices (f.2 0.1 7.9 54.8 2.Services turing turing 20.4 48.3 53.i.9 3.2 2.1 2.0 Sources: European Commission Business and Consumer Surveys and Markit.4 0. Exports by wholesalers and re-exports are not covered.5 55.1 1.7 -0.7 49.3 2.1 -3.0 47.1 4.4 3.2 37.8 1.6 8.6 2.b.7 37.9 4.3) Industrial import prices (c.4 0.8 54.5 64. 5.1 54. 1) Difference between the percentages of respondents giving positive and negative replies.9 38.2 7.3 Industry.3 1.0 -0.1 11.4 0.9 6.5 4.0 39.2 1.9 9.o.7 2. Oct.8 4.3 3.9 15.4 0. 3) Industrial producer export prices refer to direct transactions between domestic producers and nondomestic customers.6 2.9 1.9 2.7 48.6 2.9 48.7 53.7 3.0 56.3 1.0 1.1 2.1 5.6 35.6 2.6 47. Dec.2 6.1 -11.) 2).2 6.1 51.

- Labour Negoticost ated index wages 2.0 4.a.4 5.9 55.5 42.0 .7 5.8 2.7 79.2 .5 3.2 2.7 1.7 2.5 0.3 84.6 2.2 1.1 .6 1.1 5.0 2.3 18 ECB • Statistics Pocket Book • January 2013 18 ECB • Statistics Pocket Book • January 2013 .) 1991-95 1996-00 2001-05 2006-10 2010 2011 2012 2012 Q2 Q3 Q4 2012 Oct.0 2. - 1) 1.2 2.2 1.3 1.4 Sources: Eurostat and ECB calculations based on Thomson Reuters. Gross fixed capital formation 1. 2.8 82.2 1.7 4. - 4.Hourly labour sation per compencosts employee sation 2.1 2.9 0.0 5.5 -1.9 Sources: Eurostat and ECB calculations.5 2.6 44.7 86.7 1.8 -6.0 31.6 -0.4 4.6 1. 1.7 4. European Commission (Eurostat and DG ECFIN).7 2.3 1.0 2.1 1.1 3.1 12.2 1.3 8. 1) Includes intra-euro area trade. 1.0 7.6 6.1 1.7 .6 87.1 0.2 2. 1.6 -0.6 0.3 36.3 1.9 1.3 0.0 .3 2.4 2.2 1. 5.6 0.8 1. 3) Weighted according to euro area domestic production plus imports minus exports in the period 2004-06.3 1.8 1.9 1. unless otherwise indicated) Whole economy (s.6 1. fishing and forestry.7 1.5 2. Nov.0 2.4 -5.0 7.2 .1 14.2 2.2 1.5 2.6 Gross domestic product deflators (annual percentage changes) GDP (market prices) 1996-00 2001-05 2006-10 2009 2010 2011 2011 Q4 2012 Q1 Q2 Q3 Total Private consumption Government consumption 1.5.2 0.2 1.8 7. 1) Excluding agriculture.4 18.4 1.8 2.9 2.4 1.9 0.2 1.4 2.3 60.6 84. OECD and national data.2 .5 Oil prices (EUR per barrel) 4.6 3.6 12.6 1. Unit Compen.8 .8 1.4 -6. Experimental data.9 1.1 0.5 Other prices and costs (annual percentage changes.0 .0 5.6 84. 2.8 -0.5 1.4 19.7 2.5 2.1 10.0 1.1 -3.3 4. 2) Weighted according to the structure of euro area imports in the period 2004-06. - Non-energy commodity prices ImportUseweighted 2) weighted 3) 5. Data are working day-adjusted.5 1. Dec.8 .3 5.4 2.9 1.7 0.7 2.1 7.2 2.2 1.1 0. - 4.4 85.3 10.6 30.8 2.0 Exports Imports of goods and of goods and services 1) services 1) 1.9 8.6 1.4 2.1 0.7 8.4 8.7 2.

6 -0.4 1.6 1.3 -0.6 1.0 3.8 -8.0 73.5 1.0 2.6 0.7 -10.2 19.4 4.3 73.6 1.1 2.5 -17.7 1) 0.9 2.1 2.3 1.7 -11.6 3.3 -30.0 -4.5 3.6 94.2 -2.1 -2.3 As a percentage of GDP Net disposable Final income consumption expenditure Current transfers receivable Net acquisition Gross of nonfixed financial capital assets formation 1) -40.9 307.0 15.0 94.1 Euro area Non-financial accounts GDP ConsumpPrimary tion income of fixed receivable capital Net Primary national income income payable Annual percentage changes 2008 2009 2010 2011 Q2 Q3 Q4 2012 Q1 Q2 -0.0 1.1 3.3 4.3 2.3 2.9 1.1 1.6 -9.7 84. 1) Annual observations are identical to the quarterly observations for the fourth quarter of the year.5 1.6 15.8 1.9 3.3 -0.0 1.9 -7.8 1.6 4.1 2.4 2.0 71.0 2.3 Net saving Net capital transfers Annual percentage changes 2008 2009 2010 2011 Q2 Q3 Q4 2012 Q1 Q2 -2.3 83.5 3.5 1.1 -14.1 2.3 24.5 10.7 3.6 0.1 0.3 2.5 15.8 3.5 3.4 2.5 2.5 1.7 0.9 2.3 0.3 -2.8 2.1 19.8 3.6 1.3 83.0 100.9 72.6 Net Current disposable transfers income payable -0. -0.2 2.3 95.3 -1.8 69.0 2.3 79.6 3.5 79.6 2010 2011 2012 Q2 83.1 -8.9 0.7 -6.0 100.7 5.1 -0.3 -0.5 83.6 83.9 79.5 1.3 4.5 19.3 95.1 0.5 95.5 72.2 As a percentage of GDP Net lending/ borrowing Sources: ECB and Eurostat.6 2010 2011 2012 Q2 100.2 -10.9 1.5 2.8 0.1 1.7 0.8 1.7 3.4 2.3 1.6 28.3 2.5 3.7 3.6 1.6 0.9 -67.2 -0.0 3.3 2.3 2.4 0.7 2.8 3.2 19.9 19.4 4.2 -3.9 2.4 84.2 2.6 3.0 3.4 84.2 6.3 ECB • Statistics Pocket Book • January 2013 19 ECB • Statistics Pocket Book • January 2013 19 .6 Euro area accounts 6.5 83.3 73.2 0.7 2.7 -31.3 95.4 19.

8 87.3 86.3 3.8 -11.7 0.8 -1.4 2.5 94.0 -2.0 7.8 74.9 3.5 0.0 As a percentage of households’ gross disposable income.4 1.7 1.7 1.9 0.7 7. 20 ECB • Statistics Pocket Book • January 2013 20 ECB • Statistics Pocket Book • January 2013 .9 0.9 -6.1 Changes in net worth 2) 2008 2009 2010 2011 Q2 Q3 Q4 2012 Q1 Q2 1.8 2.6 84.6 1.8 0.3 2.1 99.7 4.1 0.8 2. 2) Annual observations are identical to the quarterly observations for the fourth quarter of the year.1 3.3 2. 1) Households and non-profit institutions serving households.8 86.6 -2.5 0.0 -0.9 21.4 36. based on four-quarter cumulated transactions.5 1.9 3.8 -0.6 0.8 -5.7 1.6 -4.7 0.4 96.1 84.6 2.3 1.6.7 2.1 24.1 2.5 0.0 73. 3) Net adjustment for the change in the net equity of households in pension fund reserves (i.8 -3.6 -7.5 -11.1 29.6 2.6 1.2 2.0 27. adjusted 3) Sources: ECB and Eurostat.5 1.6 -1.8 1.0 2.2 2.7 2010 2011 2012 Q2 99.7 87.7 2.3 2.7 -11.1 99.8 2.7 13.9 -0.5 73.2 2.8 -10.8 2.9 98.8 -10.2 -5.1 1.9 2.9 1.2 2010 2011 2012 Q2 305.0 Outstanding amounts as a percentage of households’ gross disposable income.6 3.7 7.3 -52.8 -36.6 -0.0 -4.7 0.7 0.7 299.e.6 2.6 -7.2 1.5 9.9 3. saving and investment Gross Final disposable Compen.2 Households 1) Income.1 -1.3 0.3 0.5 1.8 -0.5 1.2 2.4 109.0 301.6 4.0 3.3 2.Operating.8 2.3 72.6 108.2 64.1 14.0 36.0 2.4 64.7 1.5 2.8 -0.6 0.0 3.3 17.0 1.8 36.4 21.4 98.0 94.8 84.2 2.6 1.6 2.1 3.8 Financial investment and financing (loans) Financial investment Currency and deposits Shortterm debt securities Longterm debt securities Shares Insurance and technical other reserves equity Loans taken From MFIs Annual growth rates 2008 2009 2010 2011 Q2 Q3 Q4 2012 Q1 Q2 2. adjusted 3) 9.1 2.4 -1.5 3.2 2.0 7.0 13.2 13.1 1.0 2.1 99.0 6.1 -1.9 1.8 107.0 9.6 4. receivables minus payables).3 -1.1 3.5 3.1 20.9 2.3 3.0 9.7 2.4 2.0 3.1 -0. Net consumpincome sation mixed and current tion of emploproperty transfers expendiyees income receivable ture Annual percentage changes Gross saving Gross fixed capital formation -8.

4 17.6 2.1 -1.5 2.4 2.1 2010 2011 2012 Q2 100.3 -0.8 -2.0 151.8 163.3 As a percentage of gross value added 3.2 4.2 2. 1) Annual observations are identical to the quarterly observations for the fourth quarter of the year.5 2010 2011 2012 Q2 349.0 7.2 4.8 41.9 3.0 82.4 177.9 -4.1 97.7 1.5 2.4 2.3 1. saving and investment Gross value added Net entrepreneurial income 2008 2009 2010 2011 Q2 Q3 Q4 2012 Q1 Q2 -1.1 52.7 3.5 100.8 3.3 1.1 1.6 96.1 21.1 4.8 3.8 3.7 -0. entrepreneurial income.7 5.6 4.3 Non-financial corporations Value added.6 2.9 1.8 449.8 1.2 2.9 5.0 3.8 3.0 4.6 41.8 3.0 336.0 100.2 2.2 148.3 27.2 2.6 -0.0 129.0 -2.9 1.8 203.8 1.8 1.7 3.0 20.0 100.3 4.1 -0.1 17.4 4.2 0.4 1.6 1.9 4.6 20.8 Outstanding amounts as a percentage of gross value added Sources: ECB and Eurostat.7 7.5 41.8 -6.3 20.0 1.7 -20.5 -0.8 -2.9 2.9 6.8 1.1 2. ECB • Statistics Pocket Book • January 2013 21 ECB • Statistics Pocket Book • January 2013 21 .7 247.9 2.2 1.2 452.9 1.2 -0.2 1.1 8.0 -81.1 2.7 6.7 Net saving Net acquisition of nonfinancial assets Net Gross fixed Consumption lending/ capital of fixed borrowing formation capital Annual percentage changes 1) -10.7 -6.7 3.4 3.0 28.3 5.7 3.4 2.1 1.3 2.6.7 2.2 3.8 250.7 3.4 3.0 -2.6 2.2 2.6 2.2 341.3 Financial investment and financing Financial investment Currency and deposits Shares and other equity Financing Total Debt Loans taken Annual growth rates From MFIs Shares and other equity 2008 2009 2010 2011 Q2 Q3 Q4 2012 Q1 Q2 3.9 3.6 1.1 2.6 276.4 -16.9 0.2 3.0 0.2 2.4 -0.0 26.7 201.9 4.0 -2.4 200.4 1.4 -11.1 3.3 3.5 0.0 2.6 0.5 480.3 174.3 1.4 175.4 28.1 17.

8 15.6 11. expenditure.5 60.1 -3.3 7.0 3.1 General government revenue.5 18.4 22 ECB • Statistics Pocket Book • January 2013 22 ECB • Statistics Pocket Book • January 2013 . as a percentage of GDP) General government debt 2008 2009 2010 2011 2012 Q2 Source: ECB.2 7. 12.6 Deficit(-)/ Borrowing surplus(+) requirement 3.6 12.4 45.3 49.3 15.4 15.7 Euro area government finance 7.1 Total expenditure Indirect Social taxes contributions 12.6 15.5 2.6 Source: ECB.7 12.0 5.4 2.4 2.8 45.5 12.1 51.2 51.2 General government debt (Outstanding amounts at nominal value at end of period.3 91.0 85. Total Currency and deposits Loans Short-term securities Long-term securities 70.9 7.0 49.8 12.2 -4.8 56.5 11.7 15.3 7.7 4. deficit/surplus and borrowing requirement (as a percentage of GDP.3 -6.1 -2.5 11.4 7.5 11.4 6.5 12.4 7.9 44.1 -6.9 2.5 49.2 62.7 15.3 2.2 80.8 15.1 63.6 2.0 2.5 8.0 44.4 87.8 3.9 5.7 Interest 47.9 12. four-quarter moving sum for quarterly data) Total revenue Direct taxes 2008 2009 2010 2011 2012 Q2 45.

75 4.00 4. 9 Nov. changes in percentage points) With effect from: Deposit facility Main refinancing operations Marginal lending facility Fixed rate Variable rate tender tender procedures procedures Fixed rate Minimum bid rate 2000 28 June 1 Sep.75 3.25 4.25 0.50 1.75 5.25 2.25 3..8 Monetary policy 8.00 0.50 -0.25 -0.50 0.50 -0. -0.50 -0.25 -0.50 -0.25 3.50 1. 0.25 0.50 2.25 -0.25 0. 6 June 2005 6 Dec.50 0. 13 July 9 Nov.25 4.25 3. 11 Mar.00 3.25 0.25 1.25 1.00 5. starting from the operation to be settled on 15 October 2008.25 3.25 0.25 1.25 0...50 3.25 -0. -0.50 5.25 0.25 Source: ECB.50 0.75 4.25 0.50 -0.25 Level 5.50 1.75 -1. 11 Oct.25 -0.75 2.75 4.75 1.25 0.75 -0.25 2.50 1. 2006 8 Mar.25 - Change .25 1.75 3.25 Level 3.00 1.25 0.50 -0.25 -0.25 -0.25 -0.50 4.50 3.50 -0..25 -0. 0. 1) On 8 October 2008 the ECB announced that.00 3.75 3.25 0.75 3.25 0.50 -0.25 3.25 2.25 -0.00 2.50 Change .25 .50 4.75 Level 4.25 0.25 0.50 -0.25 4.25 0.75 3.00 3.25 -0.25 0. ECB • Statistics Pocket Book • January 2013 23 ECB • Statistics Pocket Book • January 2013 23 .25 3. 14 Dec..50 2.25 -0.75 4.75 2. 0.50 .25 -0.75 2.25 0.25 0.50 -0.75 3...25 -0.50 .00 2.50 0.50 0.25 0.1 Key ECB interest rates (levels in percentages per annum.50 4.25 1. 0.25 5. 2012 11 July Level 3.25 0.25 0.00 4..25 4.50 -0.25 0..25 0. 9 15 1) 12 Nov. 13 May 2011 13 Apr.00 Change .25 2.25 0..25 -0. 10 Dec.25 1.00 1.50 3.00 -0.25 -0.75 5.50 0.00 1.00 2.50 2.75 0.75 1. 15 June 9 Aug.00 0.75 2.00 1.25 2. 2007 14 Mar.75 2. 2001 11 May 31 Aug.. 2009 21 Jan.25 -0.25 4.50 -0..50 -0.25 0.75 3.50 -0.25 -0.25 -0..25 -0.00 1..25 0.50 -0.50 -0.25 -0.25 0.25 0.25 2.00 3.25 3.50 5.50 -0.25 0.25 2. 2003 7 Mar.25 0.25 2.25 0. 13 June 2008 9 July 8 Oct.75 4. the weekly main refinancing operations would be carried out through fixed rate tender procedures with full allotment at the interest rate on the main refinancing operations.25 0.50 0.75 .25 -0.50 0. 13 Dec. -0. 2002 6 Dec. 6 Oct.25 -0.50 3. 8 Apr.50 3.25 0.50 -0.50 2.25 -0.25 -0.50 2.75 3.25 -0.00 2. 18 Sep.25 0.

428 21 28 74.926 7.988 8. after one year counterparties have the option to repay any part of the liquidity that they have been allotted in these operations.156 14 15.75 .00 0.962 85 117.75 0. 1) In liquidity-providing (absorbing) operations.) days Fixed Minimum Marginal Weighted rate bid rate rate 1) average rate Main refinancing operations 2012 26 Sep.75 0.097 75 77.293 31 83.988 8. 79.661 2013 3 Jan.2 Eurosystem monetary policy operations allotted through tender procedures (EUR millions.75 0.75 0.398 8.746 13. 0.217 79 72.371 12 Dec. 0.746 12 Sep.926 29 3) 7.75 0. 25.725 0.886 10 89.474 84 75.307 18.79 0.383 3 Oct.296 14.591 74 70.398 26 8. the rate at which all bids are satisfied is indexed to the average minimum bid rate in the main refinancing operations over the life of the operation.371 15.683 86 89. 117.00 0.75 - - - 7 7 7 7 7 7 7 7 7 7 7 7 9 6 6 7 20 33 21 50 27 36 28 36 26 55 27 52 30 37 26 50 1. - - - 35 91 28 91 28 98 35 91 28 84 35 91 28 91 35 98 Longer-term refinancing operations 2) 12.764 82 73..905 26. 81.214 85 75.307 31 13 June 18.75 0.296 20 3) 14.75 0. 3) 6.180 9.217 19 72.75 0.156 15.75 0.629 1 Nov.86 1..813 93 77.75 0.75 0.730 7 Nov.844 27 18. the marginal rate is the lowest (highest) rate at which bids were accepted.661 69 81.450 25. 12.75 0. 3) In this longer-term refinancing operation.75 .783 96 91.813 24 77.75 0.764 12 73.75 0. 24 ECB • Statistics Pocket Book • January 2013 24 ECB • Statistics Pocket Book • January 2013 .295 24.75 0. 13.474 14 75.730 81 79.450 8 Aug.783 17 91.75 0. interest rates in percentages per annum) Date of Bids settlement (amount) Number Allotment of (amount) participants Fixed rate tender procedures Variable rate tender procedures Running for (.428 79 74.180 30 9.214 75.383 84 102.709 12. 2) For the operations settled on 22 December 2011 and 1 March 2012.683 28 89.725 2012 9 May 12.097 9 77.75 0.75 0.75 0.962 Source: ECB.8.293 87 83.886 86 89.629 6.75 0.75 0.591 5 Dec.905 26.844 18. on any day that coincides with the settlement day of a main refinancing operation. 15.295 28 11 July 24. 70.75 . 102.709 10 Oct.

5 13.787 Outstanding amounts (EUR billions) Main components of the annual growth rate of M3 (contributions in percentage points. Oct.9 5.1 13. .6 -4.72 2.8 -8.0 0.2 . Nov.9 2.4 1.5 -0. 8.3 M3 11.2 3.8 0.2 -11.2 1.6 -0.9 4.5 4.1 1.0 -0.9 3. 4.710 3.5 2.3 1.0 -0.1 4. 4) Not seasonally adjusted.3 Monetary developments in the euro area Monetary aggregates and main components (annual percentage changes.7 5.800 3. 757 794 843 863 3.2 2.2 0.5 5.4 1. Growth rates not adjusted for non-transaction-related changes. 2) Deposits with an agreed maturity of up to two years and deposits redeemable at notice of up to three months.2 5.6 2.2 3.6 -8.3 1.8 6.4 12.9 5. ECB • Statistics Pocket Book • January 2013 25 ECB • Statistics Pocket Book • January 2013 25 .6 7. Oct. end of period) 2007 2008 2009 2010 2011 2012 July Aug.5 3.3 -1.4 0.8 0.9 3.4 42.8 20.118 3.5 3.3 0.5 2.6 3.9 -0.479 9. end of period) Currency in Overnight circulation deposits M1 M2-M1 2) M3-M2 3) M3 E-money 4) 2007 2008 2009 2010 2011 2012 July Aug.6 2.4 0.5 5.2 46. 1) Growth rates are adjusted for non-transaction-related changes.909 3.04 .1 -0.0 3.4 1.7 0. .2 M1 M2-M1 2) M3-M2 3) 1.7 1.137 870 887 796 9.7 0.1 3.9 -0.949 4. 3) Money market fund shares/units.8 0.1 4. seasonally adjusted.2 5.498 4.6 1.1 0.4 2.9 2.8 2009 2010 2011 2012 Nov.8 Source: ECB. seasonally adjusted.4 6. Currency in circulation Overnight deposits 0.9 2.6 2.9 2.1 7.4 0.5 3.7 -6.1 24.3 -1.7 17. .8 4. .1 0.45 3.255 1.7 -0.3 0.1 0.6 -0.4 0.0 0.6 11.1 7.7 2.6 1.5 0.5 -1. Sep.4 6.281 9. Nov.5 0.1 1.3 0.6 7.4 -3.873 1.3 72.9 1.5 6.703 4.6 3.4 1.345 9.5 5.8.792 5. 4.2 4. debt securities issued with a maturity of up to two years and repurchase agreements.9 13.5 0.3 0.0 1.9 2.1 3.7 0.3 0.3 -0. Sep.3 4.707 3.2 5.1 3. 1) unless otherwise indicated.0 6.3 3.741 3.

8 7. 1) unless otherwise indicated.9 3.8 4.1 10. seasonally adjusted.4 8.1 3.6 1.8 9.114 13.9 -1.1 -1.9 0.7 1.4 1.6 18.2 0.8 -0.7 2.1 8. 2) MFI loans granted to non-MFIs resident in the euro area and MFI holdings of securities issued by non-MFIs in the euro area.7 1.046 10.8 -0.9 2.3 3.3 0.931 6.6 11.6 -1.9 -0.3 1.5 Plus other M3 0.8 1.6 2.1 1.2 -1.637 Outstanding amounts (EUR billions) Breakdown of the annual growth rate of M3 by counterpart (contributions in percentage points.3 -1.478 2.6 -0.4 11.157 3.2 Credit to Credit general to other govern.0 4.9 1.5 0. Oct.7 -0.898 11.1 0.4 -0.4 Counterparts of euro area monetary aggregates Main counterparts of M3 (annual percentage changes.5 3. 15.8 Source: ECB.6 -2.7 0.2 -1.2 Loans 13. 26 ECB • Statistics Pocket Book • January 2013 26 ECB • Statistics Pocket Book • January 2013 .2 1.2 0.432 13.3 -1. Sep.9 Minus Minus Net longer. 10.6 0.2 0. seasonally adjusted.5 -0.0 2.797 10.5 3.9 13.1 2.8 -0.5 0.7 1.1 9.4 -0.2 -2.2 5.7 -0.8 2.5 1.5 2.9 2.4 -0.0 -0.5 -1.1 2.3 1.1 0.0 -0.0 2.864 3.3 -1.4 3.0 -2.457 16.7 2. 17.0 1. Nov.2 6.1 -0.9 4.0 -2.2 -1.213 3. Sep.8.7 -0. 1) Growth rates are adjusted for non-transaction-related changes.6 -0.3 0.3 -1.4 7.1 1. end of period) MFI assets 2007 2008 2009 2010 2011 2012 July Aug.2 -1.9 3.287 13.8 6.7 1.9 5.6 2.5 0.6 -0.7 -2.8 -1.3 2.8 -1.2 7.9 -0.9 3.8 1.4 0.7 1.6 11.4 -0.444 16.680 7.4 -1.8 11.9 1. Oct.2 6.0 3.0 0.4 3.2 0.244 13.0 -0.0 -1.2 8.6 7.7 1.6 0.liabilities external term against assets financial central liabilities government -0.4 0.6 2.0 0.euro area ment residents -0.4 -1.0 0.6 -1.5 -0.023 10.1 1.0 2009 2010 2011 2012 Nov.1 9.293 7.978 16. end of period) Credit 2) To general government To other euro area residents Loans Longer-term financial liabilities 2007 2008 2009 2010 2011 2012 July Aug. Nov.6 3.729 7.

1 5.296 7.5 17.6 1.0 6.2 -0.6 -1.0 1.1 -0.0 -82.2 -19.1 -14.9 1.2 -12. transactions during period) Total Funds by investment policy Bond funds Equity funds Mixed Real estate funds funds Hedge funds Other funds Memo item: Money market funds Outstanding amounts 2012 Oct.9 13.7 -56.6 Euro area financial vehicle corporations (EUR billions.309 1.121 827 846 847 844 Source: ECB.574 1.0 2.0 64.7 5.6 35. ECB • Statistics Pocket Book • January 2013 27 ECB • Statistics Pocket Book • January 2013 27 .8 18.061 2.3 Transactions 8. Oct.1 17.5 0. 10.5 Euro area investment fund shares issued by investment policy (EUR billions.5 -14. 6.974 7.844 2.372 2. outstanding amounts at end of period) Total financial assets 2011 Q4 2012 Q1 Q2 Q3 6.3 -65.6 10. outstanding amounts at end of period.978 1.7 -54.6 61.9 2.330 1.340 3.685 0.307 1.5 -51.262 1.726 2.8 63. transactions during period) Total assets Deposits and loan claims Outstanding amounts 2012 Q3 2.342 3.9 -29.7 1.0 -1.8.500 Liabilities Securities Investment Insurance technical reserves other funds than Issued by shares Net equity of Net equity of Prepayments of shares euro area households households insurance General in life in pension premiums and government insurance fund reserves for reserves reserves outstand.647 2012 June July Aug.6 17.683 1.9 -2.7 -6.3 -0.393 1.2 -0.131 2.5 30.3 0.6 -1.7 -14.556 316 138 405 945 -4.4 -71.299 3.1 -25.9 Transactions 8.085 203 1.3 4.5 -4.4 21.8 23.5 -25.0 -1.0 -49.1 -63.5 -72.236 7.758 3.2 0.3 -3.4 12.300 1.3 24.006 2.9 -4.1 -0. Sep.395 2.1 -22.5 -1.8 -5.7 67.079 301 2011 Q3 Q4 2012 Q1 Q2 Q3 -32.1 1.7 Euro area insurance corporations and pension funds (EUR billions. claims 2.4 -83.872 2. outstanding amounts at end of period.1 Liabilities Securitised loans Originated by euro area MFIs Securities other than shares Debt securities issued 1.9 -0.683 1.6 -15.

9 107.124 7.234 8.00 0.8. 106.448 7.077 18. .1 107. Reserve maintenance Liabilities to which a positive 1) reserve coefficient is applied Liabilities to which a 0% reserve coefficient is applied Required reserves Credit institutions’ current accounts Interest rate on minimum reserves 10.252 8.4 106. 8.17 13.211 8.943 18.750 10. .042 1. Source: ECB.81 Number (thousands) Total assets 1.019 7.02 3.094 28 ECB • Statistics Pocket Book • January 2013 28 ECB • Statistics Pocket Book • January 2013 .4 106.894 18.0 111.692 10.75 .681 6. A coefficient of 2% is applied to all previous maintenance periods.638 35.0 538.873 3. .074 32.9 Assets of the banking system and selected non-bank financial intermediaries of the euro area (outstanding amounts in EUR billions. .90 -0. Oct.387 7.945 8.278 2.147 2.9 .0 107.133 1.8 Euro area minimum reserve statistics (EUR billions. 13.653 8.016 7.691 3.5 510.159 .805 33. Nov. Sep.61 Source: ECB.683 10. .490 1.021 981 988 961 6.75 0.218 6.327 8. Dec.75 0.59 13.916 8.75 0.038 1.126 Return on Overall equity (%) solvency ratio (%) 1.2 509.573 5.847 34. Credit institutions Eurosystem Money market funds Investment funds Financial vehicle corporations Insurance corporations and pension funds 31.212 4. . interest rates as percentages per annum) Reserve base as at/ maintenance period ending in: 2012 July Aug.69 5. 1.700 5.520 32.955 3.707 7.684 34.0 106.238 5.730 3.2 540. 1) Data are fully consolidated on a cross-border and cross-sector basis.225 2.1 529.352 2.649 .025 2. Reserve base Total 19.75 0. 2013 Jan. unless otherwise indicated. unless otherwise indicated. end of period) Foreign-controlled subsidiaries and branches Domestic credit institutions 2009 2010 2011 2011 30 June Number (thousands) Total assets 3.10 EU consolidated banking data 1) (EUR billions.079 7.022 1. 8.196 32. end of period) 2010 2011 2012 Q1 Q2 Q3 Source: ECB.289 6.902 34.53 13. 1) A coefficient of 1% is applied as of the maintenance period beginning on 18 January 2012.808 .

unless otherwise indicated.631 1.283 15.301 4.344 4.409 4. of which: Short-term Long-term fixed rate Long-term variable rate issued in euro (%) 1.1 88. redemptions and net issues (EUR billions.9 88.250 4.345 4.499 11.2 87.475 10.811 16.2 Debt securities issued by euro area residents: gross issues.6 91.373 10.3 Net issues In euro (%) 12.0 88.935 4.229 10.532 16. 13. Apr.601 1.737 16.267 4.166 1.763 16.6 87.0 89.401 1. Mar. Mar.004 1.204 10.7 90.2 89.342 4.071 552 619 161 80 -2 60 -17 29 -36 -22 35 Source: ECB. transactions during period. Sep.363 4.351 4.9 86. 1) Nominal value for debt securities. nominal or market values 1) ) Debt securities Equity securities of which: 2) 2009 2010 2011 2012 Feb. Apr.409 10.412 4.789 Quoted shares 4.191 942 936 983 944 835 871 882 93.019 1.9 89.445 10.5 88.018 10.544 1. the difference between aggregated gross issues and redemptions may deviate from the aggregated net issues. May June July Aug.096 12.6 88.395 4.9 89.8 90.2 89.0 88.555 8.4 88.3 88.535 4.252 89.640 1. Oct.841 16.642 1. nominal values) Gross issues Redemptions In euro (%) 2009 2010 2011 2012 Feb.062 4.9 89. Oct.3 88.242 4.078 3.6 88.862 16.5 89.9 Financial market developments 9.251 4.809 16.244 10.747 16.646 1.879 16.616 1. 1) As a full breakdown of net issues into gross issues and redemptions may not be available in all countries.185 4.647 1.4 88.6 88.580 3. market value for equity securities.0 89.5 88.7 88.9 86. outstanding amounts at end of period.1 Securities issued by euro area residents: outstanding amounts (EUR billions.888 4. 9.521 12. unless otherwise indicated.4 90.4 Seasonally Non-seasonally adjusted adjusted 1) 96 82 -9 -1 15 56 -5 34 24 1.389 4.228 903 979 960 956 799 845 898 93.814 9.772 3.422 10.381 4.550 11.9 88. ECB • Statistics Pocket Book • January 2013 29 ECB • Statistics Pocket Book • January 2013 29 .1 89.599 1.499 10.566 1. Sep.6 15.640 1.737 16.6 89. "long-term fixed rate" and "long-term variable rate" may not add up to the figures for total debt securities as the latter also includes long-term zero coupon bonds. 2) "Short-term". May June July Aug.319 Source: ECB.

4 10.2 9.1 3.5 9.0 2010 2011 2012 Oct.5 1. EUR Index: billions Dec.2 3.608 2. market values) Total economy 2010 2011 2012 May June July Aug.9 118.735 2.4 - - 458 339 384 334 271 330 3.0 7.4 2.7 4.319 MFIs Financial corporations other than MFIs Non-financial corporations 104.4 1.2 -0.6 3.606 Outstanding amounts per sector (EUR billions) Source: ECB.5 -2.5 6.9. 2010 2011 2012 Oct.4 0.9 1.6 3.6 1.2 5.0 4.3 Euro-denominated debt securities issued by euro area residents: outstanding amounts and annual growth rates 1) by sector of the issuer (annual growth rates. Sep.8 3.7 9.8 5.2 -1. 9.9 3. nominal values) Total economy MFIs Financial Nonincluding corporations financial the Euro.5 106. unless otherwise indicated.5 12.874 14.1 -1. outstanding amounts at end of period.894 14.6 6.1 -0.5 3.935 4.580 3. outstanding amounts at end of period.7 13. 2008 = 100 1) Central government Other general government 2010 2011 2012 May June July Aug.9 5.8 2.9 0.5 118.871 - - 4.8 13.3 0.205 496 544 609 Outstanding amounts per sector (EUR billions) Source: ECB. unless otherwise indicated.772 3.3 4.871 111.690 14.591 4.888 3.7 5.0 0.885 14.242 4.1 1.857 14.8 2.840 6.3 0.4 Quoted shares issued by euro area residents: outstanding amounts and annual growth rates 1) by sector of the issuer (annual growth rates.311 4.9 3.5 7.0 2.3 4.888 4.6 4.5 4. 1) The index data and annual growth rates are shown as end-of-period values in order to ensure consistency with other information in this table. 30 ECB • Statistics Pocket Book • January 2013 30 ECB • Statistics Pocket Book • January 2013 .other than corporasystem MFIs tions EUR Index: billions Dec.4 0.0 1. 2008 = 100 1) 4.580 3.3 -2.106 6.3 6.6 106.1 14.8 106.690 14.7 118.4 5.8 4.118 14.9 116. Oct.185 4.895 14.319 4. Oct.8 106.7 -2.788 3.5 12.9 3.0 12.1 106.4 0.8 3.9 107.7 10.2 1. 14.3 10.3 2.9 1.9 0. 14.5 3.3 3.7 3.9 118.278 3.7 10. 1) The index data and annual growth rates are shown as end-of-period values in order to ensure consistency with other information in this table.062 4.3 13. Sep.9 118.118 14.1 3.7 0.768 2.3 0.6 3.3 12.8 118.0 6.7 2.651 703 714 798 5.4 106.7 12.

61 0.41 1.22 1.39 0.21 0. Nov. 0. Mar.50 1.53 0.11 0.19 0.28 -2. Oct.19 0.55 United States Japan LIBOR LIBOR 3 months Nominal 0.29 1.16 Sep.17 Dec.28 0.21 0. Feb.07 2.95 0.12 0.68 1.30 0.76 0.32 -1.41 -2.27 0.43 1.84 -1.32 1. 2014 2.04 0. Nov.45 2.36 0.50 1.39 .63 0.83 2.41 0.74 0.36 -2.70 0.59 0.09 0.95 0. May June July Aug. Feb.53 0.26 -1.32 1 year 1.47 0.42 0. Mar.85 0.67 0.27 1.92 -1.00 1.74 0.13 0.27 1.19 0.82 -1.37 1.10 -0.88 0.65 0.18 0.52 0.38 0.61 -1.20 0.17 0.57 1.20 0.19 0.59 0.00 0.65 0.59 0.43 0.50 1.98 0.79 0.45 .30 -2. period averages.24 Sources: ECB calculations based on underlying data provided by Bloomberg.20 0.47 1.47 0.41 0.20 0.54 1.84 -1.02 0. May June July Aug.50 0.97 0.78 0.11 0.17 0.05 1. Sep.31 -0.80 0. Dec.19 0.24 0.19 0.33 -1.30 0.95 2.57 0.83 1.48 0. 2012 Jan.17 1.50 0.84 1.25 0.75 1.47 0.84 0.38 0.01 1.20 0.20 0.04 0.43 -1.34 0.31 0.23 0.30 Sep.22 0.31 3 months Real Nominal -1.95 -1.34 0.29 1.97 0.86 0.00 -2.18 0.33 0.72 2.22 0.71 0.47 0.08 0.21 0. Sources: ECB calculations based on underlying data provided by Thomson Reuters.18 Real 0.14 0.89 0. Apr. Apr.19 0.36 -2.64 0.81 -1.32 0.33 1.35 2.79 0.56 0.20 0. 9.37 -2.80 0.46 0.20 Mar.23 0.24 0.20 -0.49 0.42 0.63 0.74 0.5 Money market interest rates (percentages per annum.05 0.36 0.29 0.87 0.59 0. 2014 3. by maturity date of futures contract) 2010 2011 2012 2011 Dec.25 0.39 0.58 2.39 0.93 0.88 0.98 0.34 0. 2014 2.20 0. period averages) Euro area EONIA EURIBOR 1 month 2010 2011 2012 2011 Dec.64 0.67 1. Mar.19 0.11 2.09 0.75 -1.84 0.07 0.25 0.82 -1.11 0.11 3 months Nominal 0.70 -1.99 0.82 0.10 0.46 0.65 0.35 1.66 -2.11 -0.68 -1.08 0.06 0.16 1.46 0.19 0.20 0.08 1.91 -2.32 1.40 0. Dec.57 1.34 0.44 0.66 0.60 1.24 -1.72 1. 2013 2.48 0. Jun.22 1.57 0.35 0.36 0.68 0.43 0. 0.56 0.58 0.22 0.90 0.71 0.87 0.60 0.14 1.19 6 months Real -0.10 0.27 0.30 0.18 -1. 2013 2.50 0. 2012 Jan.35 0.83 -1.38 0.71 0.47 0.41 1.42 0. Oct.58 1.33 0.33 0.9.33 0.73 0. 2013 2. 2013 2.08 0.84 1.28 -2.95 0.39 0.38 0.91 0.6 Interest rates implied by 3-month EURIBOR futures (percentages per annum.88 0.39 0. Sep.01 1.45 0.81 1.35 ECB • Statistics Pocket Book • January 2013 31 ECB • Statistics Pocket Book • January 2013 31 .16 Jun.37 0.61 0.54 0.20 1.67 1.47 0.

84 -0.00 0.50 -1.17 3.02 0.01 -0.01 0.43 -5.38 0.02 -0.06 0.13 0.04 -4.82 -0.07 2.94 1.41 0.95 0. Mar. end of period) Euro area 2010 2011 2012 2011 Dec.09 1.62 -0.60 3.22 -2.76 1.76 0.72 2.21 0.37 0. May June July Aug.15 1.11 0.63 -1.84 4.75 0.03 -0.87 1.20 -0.09 0.10 0.92 1. 2 years -0.88 1.33 2. Sep.15 1.7 Euro area yield curves (AAA-rated euro area central government bonds.07 -1.03 0.03 0.80 -5.17 2. Feb.75 3.63 -1.79 -1. 0.05 -0.66 10 years -0.15 -0.68 -0.45 -0.11 0.27 1.69 3 years -0.69 -6.24 2.00 0.03 0.55 -1.98 -0. Oct.13 1.50 9. Oct.04 -2.32 0.06 2.8 Spreads between swaps and government bond yields (percentage points.03 -1.00 0.01 -0.03 -0.27 0.87 1.21 2.01 -0.10 3.66 -1.16 -1.17 0.46 -1.01 0.69 0.87 1.00 32 ECB • Statistics Pocket Book • January 2013 32 ECB • Statistics Pocket Book • January 2013 .16 -1.44 1. Dec.08 0. Sep.36 1. Apr.92 -0.64 3. Nov.78 0.34 0.41 -0.77 -1.02 0.16 0. 2012 Jan.30 0.05 0.11 -0.07 0.03 0.39 1.28 -1.49 -1.17 2.06 -0.07 -1.07 -0.04 0.98 -1.26 4.67 2.53 2.26 0.01 0.50 Sources: ECB calculations based on underlying data provided by Bloomberg.00 0.89 1.09 0.66 10Y-2Y 1 year 2 years 5 years 10 years spread 2.12 -0.13 0.03 -4.59 2.60 -0.24 3.63 -3.45 0.86 1.65 2.56 -1.95 0.80 -2.44 1.05 0.57 -1.25 -1.32 -1.10 2.03 0.23 3.71 0.21 -2.74 0.84 -0.07 0.92 1.55 3. rates in percentages per annum.41 3.23 -1.49 2.39 0. Nov.39 0.02 -0.07 0.22 2.69 -8.55 2.96 -4.95 1.72 3.72 2.02 -0.22 2.17 0.97 2.39 0. end of period.14 0.26 0.59 -1.07 0.91 1.98 -4.53 -0.52 0.36 0.03 0.93 -1.04 0.74 0.04 -0.10 0. 4.01 0.57 -1.00 0.23 -1.84 2.82 3.53 1.76 1.08 -0.02 -0.27 -0.48 -1.98 7 years -0. Dec.04 -0.08 -4.07 3.80 1.92 -10. Apr.91 1.15 0.00 -0.04 0.02 0.01 -0.26 4.87 -5.49 -1.87 2.76 0.11 0. May June July Aug. Mar.55 -0.56 1.87 5 years -0.01 -0.02 0.11 0.60 -8. United States Japan 10 years 10 years 0.47 1.12 2.32 0.65 0.21 -0.89 2.00 0.91 -0.40 -1.05 -1.60 2.87 -2.89 1.40 -2.58 3. Dec.11 0.09 -0.09 0.72 -1.20 0.93 -3.29 0.05 1.82 2.84 Sources: ECB calculations based on underlying data provided by EuroMTS and ratings provided by Fitch Ratings.62 -3.85 -1.90 -0.01 1.85 0.09 0.09 0.06 4.04 0.94 1. spreads in percentage points) Spot rates Instantaneous forward rates 3 months 1 year 2 years 5 years 10 years 10Y-3M spread 2011 Nov.60 -1. Feb.65 2.02 0.32 1.52 3.66 -3.90 1. 2012 Jan.26 0.40 -12.69 2.9.01 -0.

8 2.5 19.72 7.17 -9. Sep.9. Dec. the period 1941-43=10.412 2.63 5.35 5.0 19.4 23.5 2. Standard & Poor’s 500 and Nikkei 225 indices are.1 0.rate of ity 2) change 8.1 1.4 1.65 8.2 2.514 2.531 2.521 2. Nov. Dow Jones EURO STOXX 50.827 9.24 -8.88 5. respectively: 31 December 1991=1.10 -1.85 4.6 9. Sep.000.6 -23.103 9.78 4.67 7. period averages) Dow Jones EURO STOXX main industry indices 2010 2011 2012 2012 Apr.3 12.060 9.11 15.541 2.2 2.7 5.153 2.81 -5.6 2.30 21.341 2.26 4.63 5.Utilities Telecoms Health trials nology care 338 349 330 328 310 298 314 330 340 340 344 362 224 222 219 221 205 198 204 221 223 220 231 247 345 302 236 238 219 215 224 232 247 242 227 226 Sources: ECB calculations based on underlying data provided by Thomson Reuters. May June July Aug. Oct. 1) rates of change in percentages.11 -2.1 8.317 2.3 15.72 8.63 12. Europe Euro area United States Japan Dow Jones STOXX 50 Dow Jones EURO STOXX 50 Standard & Poor’s 500 Nikkei 225 Level 2. Nov.638 8.4 Sources: ECB calculations based on underlying data provided by Bloomberg and Thomson Reuters.258 2. Standard & Poor’s 500 and Nikkei 225 indices. Basic Consumer Oil Finanmaand gas cials terials Services Goods 463 493 504 498 469 453 479 509 531 528 526 559 166 158 152 146 140 137 146 155 158 159 163 170 323 351 386 381 374 358 379 400 398 398 404 423 307 312 307 301 282 275 290 313 321 312 308 312 183 153 122 117 105 104 106 117 130 130 131 138 Indus.9 1. 9.584 Level 2. May June July Aug.843 8.8 11.307 2.949 8.341 1.34 4.950 8.140 1.422 Annual Volatil. Dec.4 Level 10.9 Stock market indices (index levels in points.379 1. period averages) 2010 2011 2012 2012 Apr.435 2.386 1.46 8.1 13.450 2.199 2.81 4.8 2.006 9.412 2.09 -0.83 4.761 8.78 6.545 2.5 2. 1) The bases for the Dow Jones STOXX 50.425 9.395 1.2 -17.8 -5.rate of ity 2) change 3. Oct.4 2.30 4.814 Annual Volatil.21.403 1.22 5.Tech.6 18.64 5.8 -22.0 Level 1. and 16 May 1949=176.1 4.779 2.627 8.03 4.46 5.96 2.438 1. index: 31 December 1991=100.rate of ity 2) change 7.523 2.74 1. 390 358 269 275 261 250 257 266 275 256 239 240 408 433 523 489 492 499 534 553 560 568 563 583 ECB • Statistics Pocket Book • January 2013 33 ECB • Statistics Pocket Book • January 2013 33 .0 -5.503 2.9 -20.425 2.443 1.323 1.24 -12.611 2.000. 31 December 1991=1.49 6.468 2.626 Annual Volatil.9 2.17 9.10 Euro area sectoral stock market indices (index levels in points.7 14.59 5.4 2.268 1. 2) Values are based on the average daily implied volatility of the Dow Jones EURO STOXX 50.360 1.554 2.

21 2.50 3.59 0.20 4.84 3.40 3.81 1. 2) Data are end-of-period values and represent rates on outstanding amounts.40 2.01 2.73 2. May June July Aug.11 1.60 3.25 8. Over.52 0. Nov.21 4.14 3.70 2.76 2.39 4.21 3.29 4.46 0.69 3.04 2.68 1.31 1.18 2.16 2. Nov.04 2.17 3.86 3.11 Euro area MFI interest rates on deposits (percentages per annum excluding charges.Redeemable night 1) at notice of up to 3 months 1) 0.56 2.39 8.62 3.54 3.45 0.52 0.77 3.52 2. new business rates as period averages.89 1.53 3.26 8.82 1.82 2.14 4.40 1. unless otherwise indicated) From households 2012 Feb.95 3.93 1. a matuconvenience of over and up to 10 years convenience -rity Up to EUR Over EUR and 5 years 2) 10 years IRF and of over 1 million 1 million extended IRF extended 5 years 2) credit credit card debt 1) card debt 1) 8.42 4.72 3.61 3.58 4.12 2. Oct.22 2.25 4. To non-financial corporations Revolving Lending for house purchase Revolving Loans Other loans with floating loans and loans and with and up to 1 year IRF overdrafts. 1) For this instrument category.94 3. 2.12 3.70 1.32 2.12 Euro area MFI interest rates on loans (percentages per annum excluding charges.37 2.84 1.73 2.65 2.15 3.14 1.31 3. Mar.96 2.46 3.74 1.87 3.03 Source: ECB.69 2.72 2.07 1.49 3.61 3. the interest rates on outstanding amounts and new business coincide. Mostly end-of-period rates.79 2.76 1.79 9.19 4.00 1.79 1.93 2. Apr. Sep.61 From non-financial corporations With an agreed maturity of: Up to Over 1 Up to 1 year and up to 2 years 2) 2 years 2.96 1.40 4.66 Overnight 1) 0.31 2.56 2.45 0. Oct.47 0.90 2.41 8.89 2.05 1.46 4.90 Source: ECB. 1) For this instrument category.80 2.55 0.36 3.70 2.48 0.65 2.34 3.46 0.80 3.18 4. Mostly end-of-period rates.66 2.41 0. Sep.70 3.14 8.15 8.45 2.44 0.54 0.38 3.12 8.04 7.9.16 1.21 3.67 2.65 1.88 2.49 3.73 1.76 3.62 1.51 0.93 3.28 4.26 8. Apr.59 3.75 2.26 3.05 2.54 2.85 3.08 4. the interest rates on outstanding amounts and new business coincide.43 With an agreed maturity of: Up to Over 1 Up to 1 year and up to 2 years 2) 2 years 1.10 1.52 3.80 2.73 3.48 0.74 2.78 2.67 3.78 1.72 2.67 3. Maturity over 5 over overdrafts. Mar.46 3.60 3. May June July Aug.13 2.91 3.98 3. 2) Data are end-of-period values and represent rates on outstanding amounts.13 1. 2.49 0.42 0.20 4.81 2.70 2.66 3.76 2. new business rates as period averages.26 1. unless otherwise indicated) To households 2012 Feb.58 2.58 0.18 34 ECB • Statistics Pocket Book • January 2013 34 ECB • Statistics Pocket Book • January 2013 .96 3.60 4.83 2.

76 11.469 20.159 20.54 11. issued upon receipt of funds in an amount not less in value than the monetary value and accepted as a means of payment by undertakings other than the issuer.41 338.682 213.67 2.10 1.563 17.64 1.800 18.55 3.056 18.85 9.1 Transactions involving non-MFIs by type of payment instrument (period totals) Volume of transactions (millions) Euro area Value of transactions (number per capita) (EUR thousands per capita) (EUR billions) EU Euro area EU Euro area Credit transfers EU Euro area EU 2007 2008 2009 2010 2011 14.496 20.68 1.92 0.74 10.09 18.124 22.31 3.88 936 960 1.597 6.232 1.26 2.90 35.34 2.006 4.22 1.62 44.g.75 51.65 18.685 16.70 1.10 3.732 16.329 1.61 43.091 1.46 3.59 63.004 4.40 16.81 2007 2008 2009 2010 2011 427 750 856 1.95 16.22 40.266 488 836 915 1.081 5.333 5.867 5.660 22.83 0.625 22.59 47. which is stored on an electronic device (e.074 1.30 1.722 120.47 39.51 113.102 13.800 236.105 19.36 2.09 0.29 3.10 Payment and settlement systems 10.291 1.629 1.09 0.711 1.30 13.42 3.198 280.50 361.58 56.36 59.89 1.57 5 17 21 28 38 5 17 21 28 38 0.06 0.33 50.740 118.22 62.83 47.01 0.96 12.922 199.94 367.103 19.616 14.177 21.06 0.648 6. represented by a claim on the issuer.62 565.336 1.178 37.95 54.13 58. 1) E-money.668 1. is a monetary value.98 1.44 339.26 3.21 14.858 24.640 1.73 28.59 13.56 49.155 52.04 3.17 4.76 12.90 44.45 3.35 1.166 49.26 31.002 1.05 424.717 1.98 9.350 9.04 0.25 3.78 55.898 45.03 0.080 42.64 50.22 43.438 4.484 29. or electronic money.05 0.238 5.452 15.134 8.93 46.98 3.97 31.642 1.897 16.93 2.94 42.83 2.823 14.33 2.62 42.01 0.025 15.718 31.705 15.874 3.428 23.71 3.482 6.676 1.21 6.282 16.07 2007 2008 2009 2010 2011 4.499 111.11 0.195 27.13 73.48 2007 2008 2009 2010 2011 15.93 2007 2008 2009 2010 2011 544 528 445 404 433 545 541 458 416 446 1.146 1.256 202.49 66.020 22.001 18.915 2.136 1.129 1.36 52.782 1.60 3.631 14.66 49.05 10.43 44.81 0.09 398.04 3.08 13.367 14.676 15.17 2.657 34.472 355.933 21.664 4.66 43.427 5.255 21. ECB • Statistics Pocket Book • January 2013 35 ECB • Statistics Pocket Book • January 2013 35 .10 12.27 68.720 4.77 10.494 16.025 1.043 5.125 3.24 404.030 6.97 12.13 31.425 18.71 54.85 15.66 475.46 2007 2008 2009 2010 2011 Direct debits Card payments using cards issued in the country (except cards with an e-money function only) E-money purchases 1) Cheques Other payment instruments Source: ECB. a card or computer).688 111.73 40.35 5.

421 18.65 1.44 13.28 626 493 512 537 -48.56 -1.824 -10.39 2.04 1.440 651.95 611.28 2008 2009 2010 2011 2008 2009 2010 2011 EURO1/STEP1 CLS 1) (totals processed in euro) Other EU large-value payment systems processing euro EU large-value payment systems processing other currencies EU retail systems processing euro EU retail systems processing other currencies Source: ECB 1) CLS is situated outside the EU.85 4.134 536.10.56 -6.06 -15.85 -66.032 631.42 20.10 -9.752 8.537 113.53 0.98 2008 2009 2010 2011 26.99 4.11 32.09 -12.75 1.208 64.10 0.15 -1.47 18.87 -13.232 414 356 418 -92.020 24.204 62.62 9.68 -10.16 TARGET/TARGET2 2008 2009 2010 2011 89 88 87 89 2008 2009 2010 2011 64 58 59 62 2008 2009 2010 2011 28 32 42 45 52.340 28.68 2.371 -7.72 -15.886 2.88 -1.791 182.403 27.59 19.25 0.881 -4.66 0.55 2.846 19.2 Payments processed by selected interbank funds transfer systems in the EU (period totals) Volume of transactions (millions) Value of transactions (annual % change) (EUR billions) (annual % change.97 73.45 7.14 -21.92 -1.28 1.87 14.908 11.09 15.22 9.01 -6.143 120. in the United States.666 161.805 112.64 2.878 10.278 8.19 1.64 3. 36 ECB • Statistics Pocket Book • January 2013 36 ECB • Statistics Pocket Book • January 2013 .637 131. HICP adjusted) -10.33 -0.98 3.381 3.482 10.90 145.065 28.77 26 25 25 25 -13.30 3.091 11.426 65.512 1.917 9.69 2008 2009 2010 2011 10.71 -0.90 5.22 -21.85 142.321 18.

3 4.0 -52.4 23.1 13.p.6 10.4 170.1 +10% Sources: European Commission (Eurostat and DG ECFIN) and ECB.1 -73.3 +6% -9.9 PT -9.6 26.7 146.7 12.4 3.7 127.1 -4.8 -10.5 -10.4 -85.1 7.6 235.5 8.8 4.7 9.4 13.credit debt 2) sector ment ment deflabour ption.9 217.8 -1.3 86.9 EE 2.5 -10.1 -8.0 78.7 -0.2 -7.9 1.6 -3.8 6.9 -3.0 120.8 +15% +160% +16.5 -2.1 4.5 224.6 24.4 -71.0 9.0 -96.4 3.7 160.0 3.4 4.3 -0.4 HU 0.3 -91.2 6.9 7.9 20.1 ES -4.1 -10. market inal prices.2 38.9 -8.8 -1. 4) Three-year percentage change relative to 35 other industrial countries.1 -17.4 128.3 40.6 42.8 0.4 -0.3 49.1 17.9 3.4 CY -8.7 PL -4.1 1.5 13.9 4.1 4.1 -1.4 125.3 1.8 -0.5 -0.8 4.8 132.0 27.7 LV 3.2 19.1 Thd8) -4/+6% -35% +/-5% -6% +9% Non-euro area BG -3.7 -4.3 76.4 7.2 -2.5% +60% 7.8 -7.2 -5.1 8.1 -12.6 8.4 -13.9 2.0 326.9 32.8 0. ECB • Statistics Pocket Book • January 2013 37 ECB • Statistics Pocket Book • January 2013 37 .2 8.3 65.1 FR -1.5 107.5 2.6 -63.0 -5.6 -0.2 -0.4 7.0 4.6 5. A positive value indicates a loss of competitiveness.6 -2.3 0.3 -1.8 -64.4 33.4 -41.6 -4.3 178.1 3.1 46.5 35.3 1.3 -4.3 79.8 97.4 4.5 81.1 1.3 -0.4 FI 0.8 46.8 6.0 +60% +10% -6.9 43.7 7.3 1.9 3.4 5.7 9.6 4.5 6.General UnempEER.House Private Private Finan.8 6.2 -0.9 -3.6 8.1 15.6 4.3 128.4 -64.7 -16.9 -2.2 1.5 6.9 -17.5 74.3 9.4 85.0 -49.3 -0.3 -15. 6) Three-year percentage change.5 128.9 7.0 -1.9 2. 2) 1) Internal imbalances Real Export Nom.4 3.3 4.7 71.1 106.7 249.1 7.1 16.6 69.9 12.7 13.2 30.i. sector sector cial governloyHICP. 2) As a percentage of GDP.0 SE 6.8 6.11 Selected indicators for EU Member States 11.5% +15% +160% +16.9 6.flow 2) liabili.6 13.6 -3.3 70.3 -0.4 4.9 206.8 NL 7.9 9.3 SK -2.6 MT -4.8 -2.1 -3.7 -1.9 5.4 -4.4 -86.5 9.0 2.5 72. 3) Net i.0 2.8 4.2 -6.3 -1.0 -11.7 230.8 1. 3) Three-year average.3 -5.0 -9. 7) Year-on-year percentage change.9 -7.6 284.9 -6.3 208.2 Thd8) -4/+6% -35% +/-11% -6% +12% -0.1 LT 0.2 -13.5 -2.2 -2.6 -105.1 -18.4 56.4 108.9 309.4 8.3 5.2 0.1 -18.4 11.0 -5.0 0.2 4.0 IT -2.0 8.3 -24.9 1.6 -15. 1) Data may differ from the European Commission’s Alert Mechanism Report as a result of revisions.3 3.share 5) unit consum.7 -18.9 65.3 CZ -3.6 4.1 3.0 -8. 5) Five-year percentage change.2 -10.6 3.1 -105.1 -24.3 3.9 -20.0 18.6 3.2 6.7 6.7 2.4 +6% 11.5 1.0 -3.6 15.0 -5.0 -4.6 3.8 80.1 236. 8) Threshold.8 4.3 DK 5.1 18.2 11.9 -10.5 -1.3 DE 5.7 7.8 AT 2.7 4.6 -3.4 38.0 SI -0.3 -7.8 5.1 167.9 160.1 70.6 4.6 1.6 -7.8 LU 7.4 UK -2.9 -2.1 -5.1 -2.1 Scoreboard for the surveillance of macroeconomic imbalances 2011 External imbalances/ competitiveness indicators Current account balance 2).0 GR -10.7 2.9 14.0 -8.8 -57.3 RO -4.debt 2) rate 3) lated 4) costs 6) defties 7) lated 7) Euro area BE -0.1 IE 0.

.6 3.8 2.5 3.6 2.6 2.9 3. 38 ECB • Statistics Pocket Book • January 2013 38 ECB • Statistics Pocket Book • January 2013 .2 2.1 1. . 2) Flash estimate.6 2.9 2. 3. .9 *) 1.7 1.7 2.5 DE 26.1 3.6 4.7 2.0 4.9 3. .5 100.1 1. . .3 2.4 3.2 3.1 4.2 6.6 3.6 2) .7 4. .7 2.1 4. .6 2.0 0. .2 2.4 SI 0.8 5.1 0. .2 3.0 1.2 2) . .7 -1.2 -1.0 2.2 2.9 UK 15.3 LU 0.1 2012 2012 Oct.1 1.7 2.9 3.1 2. .2 1.6 4.2 8.8 Euro area 3)100.7 6.1 1. Sources: Eurostat and national data. . 1) Non-euro area countries: percentage share in the EU total. 2.0 2) .5 3.6 2.3 1.8 3.6 1.2 2.9 1.0 3.9 1.1 3. . Euro area: estimate based on provisional national releases (which usually cover around 95% of the euro area).1 1.6 2. .2 15.4 HU 1.7 2.5 .5 2.2 2010 2.4 4. .2 4.8 1.6 2. 2012 Nov.0 EU 3) 1.7 1.1 3.1 IE 1.8 2.9 2.3 2.7 FI 1.1 NL 4.7 2.9 2.9 5.3 2. .3 2.5 2.9 2.5 3.1 8.5 2.4 FR 20.2 4. . .8 2.1 LV 0.2 2.1 2.6 1.8 1. .6 3.5 5. . 2.6 2. .3 1.7 CZ 1. .6 .2 2. *) Data for 1997-2000.4 4.0 BG 0.7 1.0 5.7 2.6 10.1 2.2 2.3 ES 12.9 . 2.4 SK 0.4 2. .9 AT 3. .6 3.2 HICP (annual percentage changes.4 2.5 2. .3 MT 0.0 1.4 0.7 2.2 *) 1.0 6.0 1.9 3.5 3.8 2.0 1. .1 2) . .2 3.7 3.1 2.1 11. . 2012) 1996-00 2001-10 BE 3.4 DK 1.1 0.7 4.9 3.4 8. .1 .6 0. 2. 2.6 1.5 3.1 1.0 3.8 2.8 12.2 3.2 4. . .11. .6 3.3 2. 3.4 2.6 4.7 1.9 3.6 SE 1. 3) Data refer to the changing composition of the euro area and EU.2 1.7 3.4 5.4 2.4 RO 1.2 3. **) Data for 1998-2000.8 1. .2 2. 2. 2012 Dec.4 3.6 2.0 5.7 3.2 1.6 IT 18.4 2.1 2011 3.4 2.5 2.6 2. for further information see page 6. .2 CY 0.4 2.1 1.2 LT 0.3 2.4 GR 3.1 2. .1 PT 2.4 2. as well as early information on energy prices. .9 2.2 1.3 2.4 *) 1.1 PL 5.5 EE 0.3 *) 8.8 .1 3. .2 2.3 **) 6.6 1. 2.9 1. unless otherwise indicated) Share 1) Average Average (%. .2 2.5 2.0 *) 64.2 1.

9 1.8 -1.5 0. 4.7 -0.1 3.5 -1.0 100.6 1.3 1.2 -4.1 2.4 -0.5 1. 3) Quarterly data unadjusted.8 2.9 1.0 1.0 3.9 LV 20.8 SI 36.4 1.0 1.3 3. unless otherwise indicated) GDP in 2011 1) EUR Share 2) Average Average billions (%) 1996-00 2001-10 BE 369.7 1.0 -1.6 0.747.5 -0.4 4.1 0.1 1.0 -5.6 -0.4 1.2 HU 99.5 0.4 -2.1 0.3 2.1 13.2 4.3 -0.4 AT 300.3 1.2 LT 30.7 -5.4 5.5 -2.9 2.9 1.0 -2.3 -0.6 2.8 1.3 2010 2.7 -1.5 0.5 -1.6 -17.7 10.1 2011 2012 Q1 2012 Q2 2012 Q3 1.8 4.9 2.1 0.7 0.8 -6.9 6.8 1.2 4.7 1.5 1.2 0.5 0.8 0.7 3.6 0.1 -0.3 -1.9 2.5 0.2 5.3 1.4 2.7 100. 1) Current prices.1 2.1 -0.8 2.592.3 2.7 1.7 -2.5 1.8 3.1 5.8 0.2 -5.4 2.5 3.4 2.5 2.6 2.7 1.7 0.8 3.6 2. 2) Non-euro area countries: percentage share in the EU total.8 2.2 3.7 2.7 4.1 2.9 -1.6 4.4 -2.5 3.8 3.1 -2.3 -0.0 Euro area 9.3 -0.0 2.3 2.4 4.8 -4.2 LU 42.0 -0.11.6 3.9 -0.6 27.4 0.0 0.2 IE 159.7 3.2 ES 1.7 -2.4 4.2 -1.0 6.3 0.2 1.0 -3.5 EE 16.7 -7.1 -6.2 0.4 3.5 5.6 3.0 1.6 0.9 5.9 -0.642.5 2.0 -1.5 0.8 0.1 -6.2 4.4 -7.1 1.9 3.2 2.1 1.3 1.4 11.8 0.7 6.9 DE 2.0 SE 387.9 -1.5 1.7 1.3 3.2 3.7 -6.5 0.0 0. ECB • Statistics Pocket Book • January 2013 39 ECB • Statistics Pocket Book • January 2013 39 .3 1.5 -3.1 UK 1.3 -1.1 5.1 -5.3 0.063.8 2.1 2.8 -4.3 -2.3 -3.6 21.9 3.5 2.9 RO 131.4 -4.4 Source: Eurostat.1 0.2 -0.7 1.6 1.9 1.7 -0.3 2.4 -4.0 0.5 0.5 MT 6.6 -0.579.9 1.7 16.5 4.9 1.9 1.7 1.4 2.9 1.6 1.7 -8.0 1.0 1.7 FI 189.1 -3.9 1.7 2.1 .4 .0 BG 38.7 -0.3 -0.4 1.3 -0.421.8 6.2 2.9 2.7 1.8 0.1 -2.9 1.0 3.3 GDP (annual percentage changes in volume and quarterly data seasonally adjusted.3 4.3 0.1 3.2 0.9 2009 1.6 4.3 -0.996.5 1.7 0.9 5.7 0.4 -5.8 CY 18.6 4.5 3.2 4.9 1.7 0.2 -1. 3.2 IT 1.4 -14.2 -0.3 CZ 156.1 NL 602.0 -3.7 -2.8 PL 369.7 GR 3) 208.4 1.8 3.3 -1.3 FR 1.1 0.5 -3.6 -5.0 8.5 -1.2 PT 171.1 -0.7 -4.2 DK 240.4 0.2 -1.8 EU 12.3 3.6 0.0 -6.6 -14.6 0.7 0.4 SK 69.0 2.8 -4.7 -3.

8 27.4 26.3 28.3 0.6 -34.6 36.2 2.6 150.3 15.2 60.9 1.3 -28.1 27.8 85.1 15.6 2.6 3.4 18.8 19.2 64.3 33.0 28. 40 ECB • Statistics Pocket Book • January 2013 40 ECB • Statistics Pocket Book • January 2013 .0 27.9 19.1 82.3 23.3 1.0 24.8 71.4 31.0 2.7 11.9 26.7 30.0 0.6 -32.3 21. For non-euro area countries.7 5.1 -41.0 80.9 20.2 9.6 26.2 10.8 0.2 14.3 31.0 11.1 3.9 63.3 80.3 -22.7 22.6 6.1 -9. deviation (in percentages) from EU GDP per capita in PPSs.9 43.5 4.0 31.0 24.8 25.2 41.8 70.6 1.4 5.7 16.1 18.2 16.6 68.7 0.0 26.4 33.3 66.6 2.0 33.4 34.8 15.6 25.1 -7.9 60.7 -26.5 1.1 7.7 8.8 25.0 21.4 2. 1) GDP in Purchasing Power Standards (PPSs) in euro.3 25. calculated on the basis of PPP rates relative to the euro area (Euro 17 = 1).2 -34.9 35.6 33. Industry.9 -19.5 79.5 69.0 21.4 76.0 72.7 35.0 41.5 -35.6 -12.6 26.6 1.6 -37.6 69.9 76.4 72.5 4.0 22.6 -52.0 22.0 Agriculture.1 30.1 0.7 1.1 37.8 20.7 31.9 66.1 32.2 1.1 35.2 24.9 12.6 71.9 30.2 65.6 1.2 30.6 17.0 -53.5 63.7 31.8 28.8 30.1 31.1 17.3 17.7 24.9 14.5 23.0 51.0 9.4 GDP per capita and gross value added by economic activity (current prices) GDP per capita 2011 BE DE EE IE GR ES FR IT CY LU MT NL AT PT SI SK FI Euro area BG CZ DK LV LT HU PL RO SE UK EU Gross value added (% of total) in EUR thousands PPPs 1) in EUR thousands Deviation (%) 2) 33. 2) Deviation (in percentages) from euro area GDP per capita in PPSs.9 3.8 29.2 28.8 10.0 73.4 2.8 0.6 80.8 2.6 Sources: Eurostat and ECB calculations.5 73.2 31.3 12.0 19.7 Services 76.8 23.0 18.9 25.3 17.6 -21.11.6 12.2 10.6 70.3 5.5 36.7 3. forestry and including fishing construction 0.3 6.5 73.1 21.4 67.4 1.7 16.

3 6.0 7. 1) Country shares are based on compensation of employees.3 -1.7 0.7 1.0 -1.7 0.2 0.11.4 3.2 2.0 -5.6 1.8 5.0 2009 3.3 1.5 1.2 1.0 2.6 -0.6 3.2 -0.1 1.2 HU 0.7 0.3 7.9 2012 Q3 3.9 -1.7 -0.0 2.6 -0.1 2012 Q2 4.1 DE 28. unless otherwise indicated) Share 1) Average Average (%.0 4. Non-euro area countries: percentage share in the EU total.5 5.2 1.0 1.6 -0.7 1.5 1.2 BG2) CZ 1.9 1.0 .1 -2.1 8.6 -0.0 FR 23.9 4.8 0.8 6.3 -1.1 5.4 0.3 0.2 1.4 -5.5 2.1 2.9 -3.3 1. 2011) 1996-00 2001-10 BE 4. ECB • Statistics Pocket Book • January 2013 41 ECB • Statistics Pocket Book • January 2013 41 .7 1.1 3.7 10.9 -7.5 3.1 1.3 2.2 3.5 2010 -0.3 1.0 2012 Q1 3.2 1.8 RO2) SE2) 3.5 Unit labour costs (whole economy.0 3.1 0.7 .1 LT 0.4 1.4 5.3 2.7 3.4 1.1 1.9 0.6 0.6 -1.9 3.7 -2.2 -10.2 PT 1.0 3.4 5.4 2.4 CY 0.3 4.3 -1.0 1.5 6.6 0.6 -0.7 2.6 2.1 EU 100.8 1.8 1.7 2.4 1.8 -6.5 0.7 4.8 2. 2.8 1.0 4.9 -2.9 5.4 -0.4 2.9 -1.0 -1.6 -0.1 7.3 2.7 6.6 3.3 1.7 3.6 1.3 0.5 2.1 -1.4 4.7 3.0 3.1 1.3 1.5 1.3 2011 2.9 5. 2) Quarterly data unadjusted.9 2.9 3.5 3.0 6.7 2.0 .0 -1.6 GR2) ES 11.7 2.8 4.4 -6.6 2.8 SI 0.1 LV 0.3 0.2 2.5 5.9 5.7 -3.0 3.3 -1.9 2.0 0.9 2.9 95.6 1.4 1.9 3.9 0.1 LU 0.9 -0.1 0.6 4.6 AT 3.7 EE 0.4 0.5 2.3 3.5 0.1 DK 2.4 -0.8 3.0 4.7 1. annual percentage changes.9 4.7 6.6 1.1 Sources: Eurostat and ECB calculations.0 -1.8 -1.7 1.0 4.7 13. 1.0 0.5 2.9 -0.4 -3.3 3.7 9.5 2.2 1.5 5.4 -3.4 3.4 SK 0.2 -6.2 -0.3 0.1 2.6 5.2 5.6 FI 2.9 7.4 2.9 1.4 -0.6 4.1 -6.6 1.4 2.0 0.1 3.3 1.6 1.7 -5.5 1.3 4.3 5.4 MT 0.0 1.3 4.6 4.3 2.2 5.0 0.3 3.1 13.2 12.2 IE 1.7 -0.6 2.2 -0.5 1.4 1.5 1.0 NL 6.9 3.4 -1.3 UK 15.8 0.1 Euro area 100.6 0.6 7. 1.2 5.7 2) PL 2.1 IT 14.4 3.5 1.4 1.3 2.3 3.

7 91. For euro area countries the table shows the harmonised competitiveness indicators calculated vis-à-vis these same trading partners plus the other euro area countries.3 98.2 109.6 -1.1 -3.3 126.0 141.0 100.5 106.6 Harmonised competitiveness indicators and real effective exchange rates based on consumer price indices 1) (period averages.6 88.4 88.9 191.7 82.5 100.4 94.3 100.8 98.7 -3.1 106.4 -2.5 95.8 106.8 104.5 104.8 150.8 103.6 108.3 152.2 118.7 191.5 106.4 92.3 104.1 98.6 122.2 107.3 130.8 97.6 98.1 102.6 107.2 78.1 96.11.7 111.1 111.9 97.9 42 ECB • Statistics Pocket Book • January 2013 42 ECB • Statistics Pocket Book • January 2013 .2 103.9 99.1 103.2 102.5 103.9 129.8 104.1 150.0 121.6 97.4 104.1 116.8 94.9 5.6 149.3 93.8 -1.5 155.1 105.3 108.4 100.7 98.4 9.6 92. 2012 Oct.9 90.4 108.1 122.0 -1.4 99.7 115.6 -0.3 -2.8 103.6 102.0 100. A positive change points to a decrease in price competitiveness.2 94.9 116.4 95.4 107.3 122.7 96.2 117.0 92.2 88.2 96.4 102.6 -1.8 107.6 122.7 92.0 99.9 93.6 91. % change versus previous year 2012 Nov. -2.9 105.0 139. 2012 Nov.6 3.6 95.0 78.5 -1.9 -2.1 149.5 119.8 125.8 105.7 151.4 109.3 117.5 94.7 110.7 106.9 133.3 102.2 103.8 97.0 100.8 141.2 108.8 87.6 103.8 144.5 106.8 101.3 103.3 135.4 100.6 190.4 140.0 129.6 104.2 110.7 1.4 150.0 133.1 128.1 100.4 104.4 -2.3 152.2 102.5 99.9 108.8 109.5 -1.2 100.4 98.1 108.1 109.8 92.6 152.1 131.3 109.3 -4.3 82.2 95.9 192.9 115. 101.2 116.6 Source: ECB.0 93.9 108.9 95.1 2011 2012 Sep.4 -1.6 147.8 105.9 191.9 -4.0 121.7 2010 101.0 144.4 148.0 -2.5 99.9 98.2 92.6 127.8 -2.4 -3.7 98.3 115.4 140.9 -1.0 106.2 121.5 117.5 100.0 101.9 152. 1999 Q1 = 100) Average Average 2004-06 2007-09 BE DE EE IE GR ES FR IT CY LU MT NL AT PT SI SK FI Euro area BG CZ DK LV LT HU PL RO SE UK 101.2 94.5 122.7 109.8 115.2 106.4 97.7 117.8 96.5 96.1 107.3 99.8 148.1 108.2 140.4 97.5 92.5 102.6 97.5 83.6 -2.1 94. 1) For the non-euro area EU countries the real effective exchange rate of the euro vis-à-vis 40 trading partners is displayed.7 112.2 -4.1 -3.4 133.8 130.3 134.7 186.9 95.

0 0.0 PL 38. .5 0.8 EE 1.8 3.5 0.2 -0.9 -0.1 1.3 0.7 -2.0 -2.6 -4.2 0.8 -4.3 -0.9 2.6 1.0 0.7 -1. .3 2.1 -0.1 0.8 7.5 -0.6 LV 2.2 IT 60. unless otherwise indicated) Population Employment Share 1) 2011 (%.1 -4.8 1.8 -1.6 -1.1 -0.2 2.5 21.4 0.1 2. .3 0.5 -0.2 -2.1 28.0 1.6 0. .8 1.2 -0.5 2.1 13.9 -7.7 -1.2 0.4 0.5 -0.2 -3.7 0.6 1.6 -2.1 0.2 -0.2 1. *) Population data refer to 2010.3 0.1 5.9 3.6 3.3 1.11.5 0.7 1.3 -4.4 NL 16.0 0.2 -4.2 0.3 1.0 DE 81.4 7.8 2.0 1.4 RO*) SE 9. .6 1.8 -2.7 0.5 MT 0.8 -5.5 0.6 -1.2 4.7 100.0 100.9 2. .2 3.2 4. .9 0.8 -3.2 3. .9 -1.4 0.9 -4. .5 2.7 AT 8.2 -1. .6 0.2 0.3 -0.2 0.1 3.4 -5.9 0.1 FR 65.0 0.1 0.4 -9.1 1.7 -1.4 0.4 2011 1.0 1.0 HU 10.9 2.7 2.0 1.1 -1.1 0.6 0.7 1. 2) Quarterly data unadjusted.2 0.9 LU 0.3 0.8 0.4 1.8 2.4 -8.2 -0.6 0.8 2.5 -2. 1.1 -0.8 0.5 -1.3 0.3 2012 2012 Q1 2012 Q2 2012 Q3 .1 SK 5.0 12.3 1.5 -1.1 -0. .5 1. 0.0 5.7 SI 2.3 0.2 0.5 DK 5. .3 0. Average Average (millions) 2011) 1996-00 2001-10 BE 11.8 -2.2 -0. .0 1.7 0.7 0.0 -0.4 0.4 FI 5.1 1.7 EU 502.6 0.3 0.3 0.3 0. .7 CY 0.5 0.6 0. .6 -0.3 0.0 0.6 0.1 -0. .8 1.4 1. .9 -0.6 0. .1 -1. .2 -0. ECB • Statistics Pocket Book • January 2013 43 ECB • Statistics Pocket Book • January 2013 43 .4 0.0 -0.4 3.7 2.3 CZ 10.0 .3 GR2) ES 46.5 11.0 0.4 0.2 -0.5 3.4 BG 7.4 1.5 -0.3 16.9 1.8 -0.3 -0.7 Population and employment (annual percentage changes.2 -0.4 PT 10.3 -4.7 0.5 -4.1 2.2 -0.5 0.4 Euro area 332.5 -2.7 0.7 -0.5 0.2 -0.6 2010 0.1 -0.0 -2.1 -0. .9 -8. .3 2.0 1.7 -2.9 1.5 0.1 2.3 1.0 -0.3 IE 4.9 -4.1 LT 3.1 .1 2.8 -0.6 1.6 1.6 1.1 0.8 0. 0.2 -8.4 0.3 Source: Eurostat. .5 -4.2 -0.9 0.9 1.4 UK 62.3 0.1 -5.4 -0.3 0. 1) Non-euro area countries: percentage share in the EU total.9 0.8 0.6 1.5 0.0 1. .6 18. . .1 0.3 1.5 -1. .9 -5.2 -1.0 1.

5 10.8 7.0 9.2 8. Average 2001-10 7.8 6.5 19.3 7.1 16. 4.2 6.0 5.1 .9 7.3 14.4 0.9 6.0 8. 7. .7 17.5 16.6 11. 10. .2 10. 12.4 5.9 5. 5.1 7.4 9.8 10.2 12.8 12.0 7.6 2011 2012 Sep.0 9.1 6.0 25.3 9.0 .9 10.5 10.6 7.9 .1 7. 14.8 12.4 .6 .3 1.6 14.9 5.5 .5 7.5 8.2 5.4 7.1 .7 8.4 1.4 .7 8.8 10. 26. unless otherwise indicated) Share 1) Average (%.1 6.2 7.9 3.6 7.5 13.2 11.1 15.9 13.7 6. 7.2 13. 44 ECB • Statistics Pocket Book • January 2013 44 ECB • Statistics Pocket Book • January 2013 .4 10.1 8.2 13.4 11.2 15.7 7.1 3.3 9.4 7.2 0.6 0.9 8.9 7.3 7. 10.2 .3 7.7 Source: Eurostat.7 21.9 10.1 9.8 Unemployment (as a percentage of the labour force. .6 10.9 4.1 10.0 100.8 12.3 6.4 7.9 8.8 11.0 9.1 6.9 .9 4.3 9.5 18.6 5.1 6.3 15.4 4.9 4.8 9.5 6.0 18.2 17. 8.4 7. 8.6 16.1 4. 12.0 5.1 14.7 .8 11.1 .4 9. 26. 10.4 14.7 5.5 14.0 9.4 12.9 12.2 9.0 2010 8.9 7.0 5. 7.8 10.4 14.7 12.8 11.4 4.4 10.8 5.3 7.3 100.8 18.7 1.6 10.0 7.8 4.4 7.7 .3 11.7 7.0 2.6 2012 Oct.6 1.0 8.5 2.8 10.1 0.5 14.5 4.5 7.4 5.2 1.6 4.0 8.9 7.1 2.6 6.6 9.0 5.4 5.7 9. 2.6 7.3 8.11.2 5.4 4.0 11.6 14.3 7.7 .8 5.2 9.8 8.5 4.8 15.5 14.8 12.6 6.5 4.4 10.8 13.5 5.4 11.6 8.6 8.7 4.6 20.7 7.7 14.1 13.5 11.6 .2 3.0 0.4 6.7 8.5 4.6 12.9 9.4 16.3 7.8 7.8 26.8 10.5 31.9 11.1 7.5 1.6 2009 7.9 12.8 10.0 7.1 0.0 1.2 9.1 12.4 7. 2011) 1996-00 BE DE EE IE GR ES FR IT CY LU MT NL AT PT SI SK FI Euro area BG CZ DK LV LT HU PL RO SE UK EU 2.6 4.1 6.0 .5 2.5 8.1 8.3 7.8 6. 2012 Nov.4 8.8 5. 1) Non-euro area countries: percentage share in the EU total.0 11.6 6.0 6.3 7. 11.4 16.9 12.2 7.0 7.

0 0.4 -7.2 -30.1 1.8 -4.7 -9.7 -2.1 0.7 -7.6 0.5 0.0 0.5 -0.9 -10.6 -1.1 -0.7 -5.4 -6.9 2010 -3.6 -5.4 -9.8 -9. four-quarter moving sum for quarterly data) Contribution 1) (percentage points.7 -0.8 1. the respective countributions to the EU total are shown.0 -8.7 -2. Sources: Euro area and EU data: ECB.5 -6.4 -3.4 -2.2 -3.7 -4.2 -6.4 -9.7 -4.3 -4.6 0.9 -7.8 -4.9 -2.5 -5.4 2008 -1.0 -0.0 -0. For non-euro area countries.9 -0.1 -2.2 -5.9 -1.2 0.5 -6.9 -1.1 -3.2 -4.1 -2.7 -3.0 -0.5 4.5 2011 -3.0 -2.2 -4.3 -5.6 -7.3 -0.2 -7.5 -8.7 -4.9 0.0 -3.0 -8.9 3.0 0.9 -4.8 -2.0 0.5 -9.2 -3.1 0.1 .6 -3.7 -11.0 0. ECB • Statistics Pocket Book • January 2013 45 ECB • Statistics Pocket Book • January 2013 45 .2 -3.2 -6.0 0.8 -3. unless otherwise indicated.2 -0.6 -11.6 -5.5 -0.1 -9. 2011) BE DE EE IE GR ES FR IT CY LU MT NL AT PT SI SK FI Euro area BG CZ DK LV LT HU PL RO SE UK EU -0.0 -0.0 -5.8 -4.1 0.9 -5.9 -6.7 -9. 1) A minus sign indicates that a country’s deficit worsens the aggregate deficit/surplus. countries’ deficits/surpluses: European Commission.0 -1.1 -4.3 -0.8 -3.3 -10.3 -5.6 -4.9 General government deficit/surplus (as a percentage of GDP.0 -4.9 -6.1 -7.4 -5.7 2. while the absence of a sign indicates that a country’s surplus improves the aggregate deficit/surplus.0 -0.9 -3.4 -9.0 0.3 -3.1 -2.8 -3.3 -0.6 -4.8 -2.2 -1.1 -2.5 -5.0 -13.8 0.1 -10.0 -13.7 .4 -4.4 -7.6 .11.5 -3.0 0.4 -4.1 -13.7 0.5 -6.0 0.1 -1.8 -5.5 -3.5 -3.1 -2.4 -9.4 -5.2 -6.2 3.8 -4.2 -0.4 2009 -5.3 -2.4 -4.1 -4.0 -1.5 -2.2 -4.9 -2. 0.9 -15.8 -6.4 2012 Q2 -3.7 -2.3 -2.1 -0.1 -0.1 -0.1 -4.5 -4.1 4.1 -4.2 0. -3.7 -7.4 -6.3 -1.

5 38.3 76.2 116.7 74.0 14.8 69.4 16. unless otherwise indicated) Share 1) (%.1 84.3 86.3 119.1 50.3 68.2 35.0 2008 89. 1) Non-euro area countries: percentage share in the EU total.2 SK 0.11.1 72.6 16.5 7.5 44.9 70.7 53.6 41.7 57.1 HU 0.5 39.5 72.2 13.0 120.3 40.2 64.0 82.2 61.7 92.7 71.1 13.8 52.0 46.0 35.7 EU 100.7 33.3 61.7 91.3 63.9 44.8 46.1 48.6 36.4 DE 25.3 ES 8.9 81.5 112.5 37.6 69.8 74.0 58.9 14.2 2009 95.1 51.5 82.1 NL 4. 46 ECB • Statistics Pocket Book • January 2013 46 ECB • Statistics Pocket Book • January 2013 .1 MT 0.6 85.4 77.2 EE 0.0 47.2 SI 0.2 66.3 62.2 LU 0.0 GR 4. 2011) BE 4.7 22.0 40.8 15.5 15.6 42.6 67.5 79.3 49.3 20.4 58.0 BG 0.8 4.1 46.9 65.3 16.8 80.1 CZ 0.9 129.5 6.4 SE 1.4 FI 1.2 83.0 2011 97.4 170.6 37.6 42.6 2010 95.0 IE 2.7 29.1 18.0 91.2 75.8 30.0 93.4 UK 14.4 85.8 IT 23. countries’ debt: European Commission.2 40.5 2012 Q2 102.9 33.5 44.8 .8 AT 2.9 43.5 144.6 34.9 FR 20.2 68.6 48.7 28.6 PT 2.4 38.4 62.6 60.3 70. Sources: Euro area and EU data: ECB.5 63.5 81.1 LT 0.3 111.0 48.5 73.8 7.0 35.9 23.2 37.2 38.1 117.8 RO 0.6 DK 1.5 6.0 27.3 67.0 87.4 56.0 126.6 43.9 79.5 80.4 33.4 38.4 108.0 CY 0.8 71.2 148.2 106.3 79.9 76.2 68.5 82.1 LV 0.8 54.7 PL 1.8 50.10 General government debt (as a percentage of GDP.9 40.4 80.8 42.3 85.7 43.1 Euro area 100.5 82.4 19.3 19.1 106.

8 43.6 37.3 56.9 0.2 45.3 51.0 44.5 48.11 General government expenditure (as a percentage of GDP.1 39.9 46.0 43.3 56.4 46.4 .5 35.7 49.8 46.8 49.7 47.4 46.4 44.3 50.6 2.3 59.3 50.2 41.6 54.1 37.6 41.2 48.9 47.6 50.7 100. countries’ expenditure: European Commission.2 0.8 37.6 2.7 43.2 44.1 2012 Q2 53.2 49.1 48.3 49.5 56.7 51.1 2.4 41.11.1 38.2 52.8 51.5 47.9 51.2 0.2 49.4 52.2 13.5 50.0 55.8 42. 2011) 4.5 49.1 50.0 2008 49.2 47.7 38.7 48.7 47.8 51.0 0.8 45.4 50.5 49.8 49.0 49.7 54.6 41.6 48.3 38.2 39. 50.7 66.0 58.3 24.2 52.9 49.5 51.5 53.8 49.3 51.9 51.0 16. ECB • Statistics Pocket Book • January 2013 47 ECB • Statistics Pocket Book • January 2013 47 .9 46.1 51.3 48.4 43.1 2009 53.2 42.1 51.6 0.7 57.4 44.8 49.3 34.1 39.8 50.8 44.2 43.1 0.2 37.4 40. four-quarter moving sum for quarterly data) BE DE EE IE GR ES FR IT CY LU MT NL AT PT SI SK FI Euro area BG CZ DK LV LT HU PL RO SE UK EU Share 1) (%.5 49.3 40.9 .5 46.6 43.4 37.6 51.0 2010 52.8 2.1 6.3 10.3 1.7 58.6 36.5 39.8 0.4 0.0 46.2 0.3 48. unless otherwise indicated.4 0.2 25.2 43. 1) Non-euro area countries: percentage share in the EU total.7 40.1 51.8 44.2 42.2 .1 41.0 51.8 45.0 37.4 50.8 3.0 38. 39.2 1.5 45.3 45.5 50.1 43.3 43.2 0.1 54.3 51.4 3.1 1.6 42.0 42.2 56.1 37.6 2011 53.1 42. Sources: Euro area and EU data: ECB.7 40.2 54.6 49.4 43.6 51.6 43.8 36.3 44.4 49.1 51.2 100.6 43.

3 158.0 . 75.6 209.3 170.4 2012 Q2 237.6 135.7 222.9 75.6 157.4 176. 82.0 74.5 124.1 237.8 166.5 219.9 75.2 71.2 318. 327.1 152.6 74.7 250.8 127.6 73. 234. 235.2 2011 235.7 .7 216.9 .0 2012 Q1 237.2 225.0 .1 2009 228.5 212.9 129.3 160.6 73.4 130.8 127.9 209.9 .5 .3 127. 3) Euro area debt does not correspond to a plain sum of country data.6 136.9 223.8 78. 236. Cyprus and Romania are not available for publication owing to national confidentiality constraints.5 .3 126.7 209.3 160.3 129.9 160. 75.1 276.8 .0 125.5 135.1 158.8 154.1 116.4 2011 Q4 235.2 141.8 Source: ECB calculations.1 160.6 .8 310.7 170.3 73. it is the outcome of a complex data integration process. 325. unless otherwise indicated) BE DE EE IE GR ES FR IT CY 2) LU MT NL AT PT SI SK FI Euro area 3) BG 2) CZ DK LV 2) LT HU PL RO 2) SE UK 2008 217.2 209.9 68.9 150. loans taken out and insurance technical reserves liabilities of non-financial corporations.2 118.6 70.5 .5 .8 .0 152.2 241.8 169.4 174.7 134.1 127.4 127.7 250.0 125. 233.9 156.1 315. 71.7 226.9 122.6 70.8 129.9 71.0 2011 Q3 232.9 125.1 200. 250.7 .4 251.2 219.3 215.11. 1) Outstanding amounts of securities other than shares issued.4 252.5 134. 224.5 .0 251.9 .4 134.9 125.4 69.7 180.5 313.9 170.9 129. 235.7 202. 235.2 216.9 217.8 2010 232.7 75.6 243.5 313.3 .7 133.0 209.9 79.8 117. 327.4 176.7 134. 77.0 .8 207.1 .5 241. and loans taken out by households and non-profit institutions serving households.0 164.0 .3 .7 164.2 241.2 .2 78.4 315.2 79.3 239.3 177. 48 ECB • Statistics Pocket Book • January 2013 48 ECB • Statistics Pocket Book • January 2013 .1 213.6 202.5 157.5 154.5 163.4 316.6 149.3 .2 169. 335. 333.6 168.2 127.9 .12 Private sector debt 1) (as a percentage of GDP.6 128.3 203.7 163.8 242.6 145.7 222.0 222.5 242.9 126.4 176.6 209.9 142.5 124.4 134.2 78.1 . 77.8 169.7 127.7 222. 78.7 249.3 161.9 160. 346.5 160.4 121.8 67.4 .7 206.1 156.6 202.9 142.3 141.9 199. 74.2 253.2 129. 2) Data for Latvia (prior to 2010) and for Bulgaria. 77.6 220.8 .5 155.6 74. 233.5 161.0 251.4 131. 374.2 216. 87.8 164.2 169.6 176.2 224.0 164.4 159.5 78.

9 9.8 4.0 9.5 -2.5 .11.6 .6 21. 9.5 .7 .8 20.6 7.7 -0.5 2.3 6.9 0.2 4.2 3.6 -4.3 2.1 31.9 -1.9 1.2 0. 3) Euro area credit flow does not correspond to a plain sum of country data. Cyprus and Romania are not available for publication owing to national confidentiality constraints.2 7.9 .7 2.8 19.6 -20.3 7.2 7.1 1.6 -4. 16. -35.6 1. and loans taken out by households and non-profit institutions serving households.3 1.6 2.8 0.5 .3 . 7. 2.0 4.2 8.0 1.4 4.0 8.9 0.4 1. 2.4 3.5 -2.1 Source: ECB calculations.8 .8 2012 Q1 10.5 5.7 .2 1.0 -2.1 7. ECB • Statistics Pocket Book • January 2013 49 ECB • Statistics Pocket Book • January 2013 49 .3 4. 174.8 2011 Q3 10.2 5. loans taken out and insurance technical reserves libilities of non-financial corporations.4 0.9 1.2 -8.3 -3.3 6.3 2.1 4.6 10.9 2011 11.0 0.2 1.3 -0.0 7.0 1.4 7.8 8.1 .4 4. it is the outcome of a complex data integration process.4 1.3 6. 4. 4.5 5.2 3.5 -0.1 3. 2. 5.6 2.5 7.4 2. unless otherwise indicated) BE DE EE IE GR ES FR IT CY 2) LU MT NL AT PT SI SK FI Euro area 3) BG 2) CZ DK LV 2) LT HU PL RO 2) SE UK 2008 20.9 2009 8.9 4.8 -1.6 -4.5 2.6 3.0 1.1 10.8 -2.8 6.9 3. 2.4 -0. 1) Transactions in securities other than shares issued.9 3.8 .8 5.8 0.2 -5.0 -3.0 -6.1 2010 13.4 10.6 .9 -12.9 19.5 0.0 0.6 6. 6.4 2. 1.4 2.3 6. 3. 10.2 8.5 -3.1 4.2 .3 2.1 4.8 .9 3.9 -19.9 -16.2 7.7 -3.6 -6.1 20.3 .8 3.9 2.3 4.7 .7 -2.1 3. 6. 2.2 3.1 -3.13 Private sector credit flow 1) (as a percentage of GDP.0 0.7 .1 3.3 9.5 -2.6 2.1 -3.3 6.9 6.7 0.4 11.1 .1 -16.6 4.4 0.4 7.5 -19.3 6.0 -3. 2.6 11.2 -9.2 7. 0. 9.8 2.9 -1.5 7.3 20.6 .1 .3 7. -12.1 13.4 18.3 16.6 . 6.2 5. 2) Data for Latvia (prior to 2010) and for Bulgaria.4 0.0 3.3 3.4 11.6 6.2 0.4 -5.1 20.2 2011 Q4 11.3 -3.3 6. 2.7 2012 Q2 7.4 1.3 -0.2 .5 . 7.5 12.8 .2 1.1 .5 . 20.3 4.0 2.3 1.3 17.3 -4.

7 28.798.0 27.11.8 24.8 23.8 6.6 114.4 50 ECB • Statistics Pocket Book • January 2013 50 ECB • Statistics Pocket Book • January 2013 .7 33.8 1.7 36.0 30.871.9 83.7 25.686.0 1.0 16.3 1.9 General government % of GDP 291.838.1 18.5 119.1 13.5 18.5 619.3 40.2 200.4 7.4 20.3 33.1 228.7 16.5 23.1 16.5 385.6 9.9 75.9 42.6 7.9 27.3 24.0 36.1 32.043.7 3.4 12.7 131.8 807.5 68.8 47.3 170.4 18.5 17.8 9.7 24.8 76.9 35.6 245.6 71.5 115.7 4.2 1.1 13.7 14.8 17.0 72.0 MFIs Other sectors 118.6 84.5 11.4 464.8 33.3 124.8 21.6 5.5 417.1 14.920.5 6.1 15.9 99.7 54.8 26.5 55.3 329.5 36.4 90.0 170.0 118.7 16.087.9 1.4 29.0 55.2 1.6 11.1 191.14 Gross external debt by sector (as a percentage of GDP) Total 2012 Q2 BE DE EE IE GR ES FR IT CY LU MT NL AT PT SI SK FI Euro area BG CZ DK LV LT HU PL RO SE UK Source: ECB.7 13.9 15.8 62.8 94. EUR billions 1.9 88.2 29.103.223.6 8.0 134.1 318.803.7 104.1 16.7 532.7 17.5 25.9 523.0 26.4 51.6 175.2 27.2 236.3 1.882.0 472.0 27.2 452.4 415.4 29.9 41.0 4.855.4 13.1 78.3 41.0 207.5 3.7 27.6 1.0 191.7 70.3 29.8 15.242.9 35.3 69.0 472.9 190.2 53.1 22.7 35.0 211.6 32.6 32.3 16.7 144.0 37.462.7 25.3 19.1 50.3 49.5 4.5 143.9 123.7 13.0 7.7 15.1 66.7 1.5 203.5 56.8 60.9 10.6 41.3 25.1 31.2 97.0 264.300.8 13.9 49.5 16.4 Direct investment/ inter-company lending 81.8 35.

2012 Oct.15 Harmonised long-term interest rates for convergence assessment purposes (percentages per annum.79 2.09 27. period averages.68 1.07 4.58 2.07 3.97 9.19 4.11.82 7.24 6. 2012 Nov.59 17.75 2.15 1.24 6.67 5.87 4.28 6.28 4.44 1.17 1.00 1.57 5.32 5.20 1.99 6.70 4.24 1. Slovenia prior to October 2003 and Lithuania prior to October 2007.30 7.64 2.31 3.36 4.43 4.24 1.34 4.00 7.39 2.78 2.55 2.45 1.15 4.84 7.26 5.90 7. 2) For Cyprus.63 4.82 6.56 5.28 20.85 6.92 4.33 1.94 4.65 1.54 1.77 17.80 2.49 6.85 8.32 4.76 1.93 2.77 2.65 4.53 7.57 6.29 10.29 3.82 2.84 1.44 1.12 25.60 1.28 2. Therefore the average yield on a basket of long-term bonds issued by a private credit institution with a residual maturity of close to ten years is presented for the period up to mid-May 2010.07 10.95 1.55 Source: ECB.34 5.47 4.20 5. 1) Yields refer to government bonds with maturities of close to ten years.00 1.45 4. ECB • Statistics Pocket Book • January 2013 51 ECB • Statistics Pocket Book • January 2013 51 .99 1.74 4.69 1.00 1.41 1.54 3.85 1. 2012 Sep. 3.04 1.10 4.00 1.00 1. 3) There are no Estonian sovereign debt securities that comply with the definition of long-term interest rates for convergence purposes.69 2. The same applies to Bulgaria and Romania prior to December 2005. Before that time the Luxembourg Government did not have outstanding long-term debt securities with a residual maturity of close to ten years.84 2.81 4.67 4.62 6. primary market yields are reported.92 1.87 2.91 2.56 4.38 1.41 1.76 2. No suitable proxy indicator has been identified.80 1.29 1.11 1.22 1.88 6.18 6.49 5.52 1.27 1.53 3.25 7.47 4.20 1.91 24.52 4.51 1.82 4.85 7. the indicator is thus not fully harmonised for that period.11 6.14 1.32 6.55 2.04 8.89 6.91 5.66 4.12 5.30 5. 4) A harmonised long-term interest rate is presented starting mid-May 2010.96 8.96 5.11 3.82 6.59 2.49 3.46 1.14 4.54 1.34 6.54 1.24 5.17 5.60 4.95 7.62 3.52 3.84 1.32 4.34 4.02 8.82 7.00 1.00 1. secondary market yields 1) Euro area BE DE EE 3) IE GR ES FR IT CY LU 4) MT NL AT PT SI SK FI Non-euro area BG CZ DK LV LT HU PL RO SE UK 2) ) 2012 June 2012 July 2012 Aug.61 1.

33 10.00 12.55 0.80 4.36 40.77 38.67 16.56 15.24 27.84 -0.41 1.03 -0.14 -1.46 -0.31 36.20 0.23 27.00 -0.60 -2.16 Relative importance of the main payment instruments (percentages of total number of transactions.10 0.49 2.54 55.00 0.32 7. 3) Shares for Luxembourg are influenced by the importance of e-money transactions.05 0.31 2.12 -0.08 5.83 1.06% in 2011.11 37.80 -0.14 0.60 .07 35.48 70.99 0.45 -1.48 -1.24 -0.41 18. unless otherwise indicated 1) ) Credit transfers 2011 BE DE EE IE GR ES FR IT CY LU 3) MT NL AT PT SI SK FI Euro area BG CZ DK LV LT HU PL RO SE UK EU Share Change (%) from 2009 (percentage points) 40.43 21.01 -2.72 2.86 42.36 -0.31 -2.43 -0.08 17.77 5.44 8.23 0.02 0.01 21.76 56.15 2.09 0.69 -2.68 39.04 0.94 5.47 0.40 11.84 1.27 49.00 -0.19 -0.02 7.82 47.01 0.39 0.07 Direct debits Share Change (%) from 2010 (percentage points) 10.04 -0.94 20.22 6.98 30.99 55.00% of the total in 2010 and 83.64 41.12 -5.13 3.39 49.00 0.29 27.66 1.07 -0.10 -0.44 0.39 -0.04 22.92 -0.88 11.52 3.25 -0.00 -0.37 -0.47 0.02 5.16 -0. 52 ECB • Statistics Pocket Book • January 2013 52 ECB • Statistics Pocket Book • January 2013 .21 0.28 18.48 -1.47 27.34 -0.46 63.43 0.42 39.50 4.97 Card payments 2) Share Change (%) from 2010 (percentage points) 46.02 30.11 2.28 -0.67 Source: ECB.33 0.20 -0.94 49.15 -0.95 0.23 -2.94 -0.00 -1.67 41.07 1.33 28.26 31.21 -0.04 0.01 5.58 48.11 -0.00 -0.18 46.29 1.19 14.65 0. 0.06 0.02 0.56 30.82 27.02 0.26 55.73 6.56 43.17 38.80 -0.45 14.97 0. which accounted for 79.27 -1.45 -0.18 23.85 0.00 0.47 43.67 11.45 5.95 60.55 0.58 62.89 -0.01 35.27 1.14 14. 2) All cards issued in the country.87 -3.26 0.67 24.89 69.15 -0.69 43.86 13.73 36.04 20.29 -0.62 .22 1.85 -0.27 0.12 0.11.02 -1.57 0.58 27.78 2.00 -1. 0.29 1.46 1.38 -1. 0.39 -3.97 .02 1.07 -4.94 7. 0.48 0.02 15.15 14.53 Cheques Share Change (%) from 2010 (percentage points) 0.11 45.80 63.48 -0.67 29.58 -1.77 0.71 16.44 1.00 -1.83 .66 -0.23 55.20 9.03 2. except cards with an e-money function only.65 -0.01 0.06 72.31 0.15 16.07 0.99 34.00 2.37 1.58 7.22 -2.22 -3. 1) Percentages may not add up to 100% as e-money transactions and other payment instruments are not shown.07 2.75 28.87 1.62 2.04 0.55 -0.88 -1.28 50.71 -0.93 0.

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