Macroeconomic scoreboard; 2006-Q4 2023
| Periods | Real effective exchange rate Real eff.exch.rate,change on 3 yrs prev. (%) | Real effective exchange rate Real effective exchange rate, index (%) |
|---|---|---|
| 2023* | 5.9 | 108.6 |
| Source: CBS. | ||
Table explanation
This table shows the indicators of the macroeconomic scoreboard. Furthermore, some additional indicators are shown. To identify in a timely manner existing and potential imbalances and possible macroeconomic risks within the countries of the European Union in an early stage, the European Commission has drawn up a scoreboard with fourteen indicators. This scoreboard is part of the Macroeconomic Imbalance Procedure (MIP). This table contains quarterly and annual figures for both these fourteen indicators and nine additional indicators for the Netherlands.
The fourteen indicators in the macroeconomic scoreboard are:
- Current account balance as % of GDP, 3 year moving average
- Net international investment position, % of GDP
- Real effective exchange rate, % change on three years previously
- Share of world exports, % change on five years previously
- Nominal unit labour costs, % change on three years previously
- Deflated house prices, % change on one year previously
- Private sector credit flow as % of GDP
- Private sector debt as % of GDP
- Government debt as % of GDP
- Unemployment rate, three year moving average
- Total financial sector liabilities, % change on one year previously
- Activity rate, % of total population aged 15-64, change in percentage points on three years previously
- Long-term unemployment rate, % of active population aged 15-74, change in percentage points on three years previously
- Youth unemployment rate, % of active population aged 15-24, change in percentage points on three years previously
The additional indicators are:
- Real effective exchange rate, index
- Share of world exports, %
- Nominal unit labour costs, index
- Households credit flow as % of GDP
- Non-financial corporations credit flow as % of GDP
- Household debt as % of GDP
- Non-financial corporations debt as % of GDP
- Activity rate, % of total population aged 15-64
- Youth unemployment rate, % of active population aged 15-24
Data available from: first quarter of 2006.
Status of the figures:
Annual and quarterly data are provisional.
Changes as of July 8th 2024:
None. This table has been discontinued.
Statistics Netherlands has carried out a revision of the national accounts. The Dutch national accounts are recently revised. New statistical sources, methods and concepts are implemented in the national accounts, in order to align the picture of the Dutch economy with all underlying source data and international guidelines for the compilation of the national accounts. For further information see section 3.
When will new figures be published?
Not applicable anymore.
Description topics
- Real effective exchange rate
- Real effective exchange rate (42 partners).
The real effective exchange rate is defined as the nominal effective exchange rate adjusted for price developments.- Real eff.exch.rate,change on 3 yrs prev.
- Real effective exchange rate (42 partners) - % change on three years previously.
The real effective exchange rate is defined as the nominal effective exchange rate adjusted for price developments.
The nominal effective exchange rate is the trade-weighted exchange rate of a currency compared to some other currencies that are important for the economy. For the scoreboard, the effective exchange rate with 42 trading partners is calculated.
Sources:
The real effective exchange rate is based on data and calculations from the European Commission (DG ECFIN) and is published by Eurostat. See Eurostat's website for more information with regard to the calculation of the real effective exchange rate.
Calculation of the scoreboard indicator:
For the scoreboard, the real effective exchange rate for the Netherland with 42 trading partners (source: Eurostat) is taken as a starting point. Subsequently the percentage change on three years previously is calculated.
Interpretation of the indicator:
The real effective exchange rate reflects both relative price developments and the development of the exchange rates. Negative growth may indicate an improvement in price competitiveness, positive growth a deterioration.
Upper and lower limits:
For this indicator the European Commission has set a lower limit of -5 percent and an upper limit of +5 percent for Eurozone countries, and limits of -11 percent and + 11 percent for non-Eurozone countries.
- Real effective exchange rate, index
- Real effective exchange rate (42 partners), index.
The real effective exchange rate is defined as the nominal effective exchange rate adjusted for price developments.
The nominal effective exchange rate is the trade-weighted exchange rate of a currency compared to some other currencies that are important for the economy. For the scoreboard, the effective exchange rate with 42 trading partners is calculated.
Sources:
The real effective exchange rate is based on data and calculations from the European Commission (DG ECFIN) and is published by Eurostat. See Eurostat's website for more information with regard to the calculation of the real effective exchange rate.
Calculation of the scoreboard indicator:
See Eurostat's website for more information with regard to the calculation of the real effective exchange rate.
Interpretation of the indicator:
The real effective exchange rate reflects both relative price developments and the development of the exchange rates. Negative growth may indicate an improvement in price competitiveness, positive growth a deterioration.
Upper and lower limits:
The European Commission has upper and lower limits for the change on three years previously. The European Commission has set a lower limit of -5 percent and an upper limit of +5 percent for Eurozone countries, and limits of -11 percent and + 11 percent for non-Eurozone countries.