Macroeconomic scoreboard; 2006-Q4 2023
| Periods | Share of world exports Share of world exports, percentage (%) | Unemployment rate; 3-year average (%) |
|---|---|---|
| 2023* | 3.2 | 3.8 |
| 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
- Share of world exports
- Share of world exports as a % of world exports.
The share of world exports is defined as the value of exports of goods and services in the Netherlands as a percentage of the value of world exports. The value of exports of goods and services in the Netherlands is based on the balance of payments as compiled by the Dutch Central Bank (DNB).- Share of world exports as a % of world exports
The share of world exports is defined as the value of exports of goods and services in the Netherlands as a percentage of the value of world exports. The value of exports of goods and services in the Netherlands is based on the balance of payments as compiled by the Dutch Central Bank (DNB).
Sources:
The value of world exports is based on data from the International Monetary Fund (IMF). IMF data are available only on an annual basis; quarterly data are based on an interpolation using both the world export volume index and the world export price index in dollars from the world trade monitor of the Netherlands Bureau for Economic Policy Analysis and euro-dollar exchange rate figures from the Dutch central bank (DNB).
Calculation of the scoreboard indicator:
Exports of goods and services are calculated as a percentage of world exports.
Interpretation of the indicator:
Exports of goods and services are a source of income for a country. A change in a country's share in world exports indicates a change in its relative competitiveness on the world market.
Upper and lower limits:
For this indicator, the European Commission has set only a lower limit for the change on five years previously: - 6 percent.
- Share of world exports as a % of world exports
- Unemployment rate; 3-year average
- Unemployment rate, international definition, %, three-year moving average.
The unemployment rate is defined as the unemployed labour force as a percentage of the total labour force.
The international definition (ILO definition) of unemployment is used here. This includes all persons between 15 and 75 years of age without paid work who are actively looking for work and are also available to start work. The national definition of unemployment for the Netherlands includes persons aged between 15 and 65 years without paid work, or with paid work for less than 12 hours per week, who are actively looking for work for 12 hours or more per week and also available to start work.
Sources:
The data are compiled by the Statistics Netherlands (CBS), which publishes the unemployment rate for the Netherlands monthly, according to both the international and the national definition.
Calculation of the scoreboard indicator:
Based on the monthly unemployment rate, a moving three-year annual average is calculated.
Interpretation of the indicator:
Alongside economic growth and inflation, unemployment is one of the main macroeconomic indicators. A rise in unemployment, other than being a social problem, also means that government expenditure on social benefits increases and tax revenues decline. Furthermore, an increase in unemployment has a negative impact on consumption. A high and persistent unemployment may indicate a lack of adaptability of an economy.
Upper and lower limits:
For this indicator, the European Commission has set only an upper limit: +10 percent.