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STATISTICAL BULLETIN
National Bankof Belgium
2003-IV
Orders and National Bank of Belgium,subscription terms Documentation Service,
boulevard de Berlaimont 14, 1000 Brussels
Telephone: (02) 221 20 33Fax: (02) 221 31 63
For further information Anyone wishing to have further information about the content, calculation methods,sources, etc. may contact the National Bank of Belgium�s Financial and EconomicStatistics Service (Data Shop).
Telephone: (02) 221 21 37Fax:E-mail: datashop@nbb.be
Responsible editor
Note The source must be mentioned.Reproduction for own or internal use is permitted.
J.-J. Vanhaelen, Head of the General Statistics Department,
ISSN 1372-7868
National Bank of Belgium.
(02) 221 32 32
Closing date : 08 January 2004
3
TABLE OF CONTENTS
I. List of shortenings 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
II. Quarterly financial statement of the National Bank of Belgium as at 31 December 2003 10. . . . . . . . . . . . .
III. Statistics
1 Chapter 1: national accounts 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.1 Yearly national accounts 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.1.1 Gross value added by industry (A31), estimates at current prices 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.1.2 Gross value added by industry (A31), estimates at 2000 prices 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.1.3 Expenditure of the national product, estimates at current prices 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.1.4 Expenditure of the national product, estimates at 2000 prices 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.1.5 Distribution of the national product, estimates at current prices 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.2 Quarterly national accounts 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.2.1 Gross value added by branch of activity, estimates at current prices 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.2.2 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.2.3 Main categories of expenditure, estimates at current prices 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.2.4 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.2.5 Main categories of income, estimates at current prices 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 9
2.1 Monthly business surveys 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.1 Overall synthetic curve and comment 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.2 Manufacturing industry, trade, business--related services and building industry 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.3 Numerical value of synthetic curves 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.3.1 Manufacturing industry, building industry, trade and overall curve 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.3.2 Overall building industry and business--related services 12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.4 Numerical value of national synthetic curves and their components: manufacturing industry 13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.5 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.5.1 Flemish region 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.5.2 Walloon region 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.6 Numerical value of national synthetic curves and their components: trade 16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.7 Numerical value of national synthetic curves and their components -- building industry: structural building work 17. . . . . . . . . . . . . .
2.1.8 Numerical value of synthetic curves: business--related services 18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.9 Synthetic curves by branches 19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.9.1 Synthetic curves by industrial branches 19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.9.2 Synthetic curves by branches in trade 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.9.3 Synthetic curves by branches in building industry 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.9.4 Synthetic curves for business--related services 21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.1.10 Consumer confidence indicators 21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.2 Quarterly survey 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.2.1 Seasonally adjusted degree of capacity utilisation in %: by sector 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.2.2 Seasonally adjusted degree of capacity utilisation in %: by region 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.2.3 Production capacity and investment in manufacturing industry 23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.3 Bi--annual survey 23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.3.1 Fixed capital investment in manufacturing industry 23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.4 Main results of the Bank Lending Survey for the euro area and Belgium 24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3 Chapter 3: population, employment, unemployment 25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3.1 Demand for and supply of labour 25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.2 Unemployment and vacancies 26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 Chapter 4: industry 27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4.1 Industrial production 27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.2 Production of manufactured industry: breakdown by industrial sector 28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.3 Energy 29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.4 Building 30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.5 Industrial production of the countries of the European Union 31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5 Chapter 5: services 32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Statistical bulletin of the National Bank of Belgium (2003--IV)
Chapter 2: business surveys . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Gross value added by branch of activity, estimates at 2000 prices
Main categories of expenditure, estimates at 2000 prices
Numerical value of regional synthetic curves and their components
4
5.1 SNCB/NMBS activity 32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.2 Inner trade 33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.3 Payment systems and instruments 34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.3.1 Payment systems between banks -- Number of transactions 34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.3.2 Payment systems between banks -- Value of transactions 35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.3.5 Payment cards -- Number of transactions by type of card 36. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.3.6 Payment cards -- Amount of transactions by type of card 37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.3.7 Payment cards -- Number of cards and terminals 38. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Chapter 6: incomes 39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.1 Compensation of employees 39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 Chapter 7: index prices 40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.1 Raw materials 40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.2 Price indices for production and import and their components 41. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.3 Output price indices -- summary table 42. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.4 Consumer prices in Belgium 43. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8 Chapter 8: foreign trade of Belgium 44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.1 Foreign trade of Belgium: monthly movement 44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.2 Foreign trade of Belgium: cumulative movement 45. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.3 Foreign trade of Belgium: monthly indices 46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.4 Foreign trade of Belgium: percentage change, cumulative values 47. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.5 Foreign trade of Belgium by main partner countries 48. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.6 Foreign trade of Belgium by sections of the Harmonised System 51. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9 Chapter 9: balance of payments 52. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1 Balance of payments of Belgium 52. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.1 Balance of payments of Belgium: synthetic presentation -- Net 52. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.2 Current account of Belgium: detailed presentation 53. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.2.1 Current account of Belgium: detailed presentation -- Credit (quarterly frequency) 53. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.2.2 Current account of Belgium: detailed presentation -- Debit (quarterly frequency) 54. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.2.3 Current account of Belgium: detailed presentation -- Net (quarterly frequency) 55. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.2.4 Current account of Belgium: detailed presentation -- Credit (monthly frequency) 56. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.2.5 Current account of Belgium: detailed presentation -- Debit (monthly frequency) 57. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.2.6 Current account of Belgium: detailed presentation -- Net (monthly frequency) 58. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.2.7 Current account of Belgium: detailed presentation -- Credit (cumulative monthly frequency) 59. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.2.8 Current account of Belgium: detailed presentation -- Debit (cumulative monthly frequency) 60. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.2.9 Current account of Belgium: detailed presentation -- Net (cumulative monthly frequency) 61. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.3 Capital and financial account of Belgium: detailed presentation 62. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.3.1 Capital and financial account of Belgium: detailed presentation -- Net 62. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.1.3.2 Capital and financial account of Belgium: detailed presentation -- Net cumul 63. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10 Chapter 10: exchange rate 64. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.1 Reference exchange rates of the euro 64. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.2 Exchange rate mechanism -- II 66. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.2.1 Euro central rates and compulsory intervention rates 66. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.2.2 Premium or discount of the Danish krone vis-à-vis the euro 66. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.3 Nominal effective exchange rate 67. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.4 Irrevocably fixed conversion rates to the euro 68. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11 Chapter 11: public finances 69. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11.1 Net borrowing (-) or lending (+) of general government and of its sub--sectors 69. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11.2 Receipts, expenditure and net borrowing 70. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11.2.1 Receipts, expenditure and net borrowing of general government 70. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11.2.2 Receipts, expenditure and net borrowing of federal government 71. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11.2.3 Receipts, expenditure and net borrowing of communities and regions 72. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11.2.4 Receipts, expenditure and net borrowing of local government 73. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11.2.5 Receipts, expenditure and net borrowing of social security funds 74. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11.3 Details of revenue collected by the Treasury 75. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11.4 Debt of general government 76. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11.5 Financial balance of general government 77. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11.6 Official debt and net balance to be financed of the Treasury 78. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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11.7 Debt and net balance to be financed of the communities and regions 79. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13 Chapter 13: national financial accounts of Belgium 80. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13.1 Flow of funds by sector 80. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13.2 Claims and liabilities by sector 82. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13.3 Financial account 84. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13.4 Financial balance sheets 88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14 Chapter 14: financial intermediaries 93. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.2 Financial statements of the eurosystem and of the National Bank of Belgium 93. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.2.1 Consolidated weekly financial statement of the Eurosystem (from 1999 onwards) 93. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.2.2 Monthly financial state of the National Bank of Belgium 95. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.2.4 Balance sheet of the National Bank of Belgium before distribution of profit (from 1999 onwards) 97. . . . . . . . . . . . . . . . . . . . . . . . . .
14.5.1 Balance sheets of the credit institutions as a whole 99. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.6.1 Off-balance-sheet items of credit institutions as a whole 101. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.7.1 Profit and loss account of credit institutions: quarterly data 103. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.9 Monetary financial institutions’ main balance sheet items established in Belgium 105. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.10 Claims originally granted by credit institutions (from 1999 onwards) 107. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.10.1 Claims originally granted by credit institutions to Belgian non--financial corporations-- outstanding amounts (from 1999 onwards) 107. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.10.2 Claims originally granted by credit institutions to Belgian non--monetary financial institutions-- outstanding amounts (from 1999 onwards) 107. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.10.3 Claims originally granted by credit institutions to Belgian general government-- outstanding amounts (from 1999 onwards) 108. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.10.4 Claims originally granted by credit institutions to Belgian households (including non--profit institutions serving households)-- outstanding amounts (from 1999 onwards) 108. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.10.5 Claims originally granted by credit institutions to the rest of the world-- outstanding amounts (from 1999 onwards) 109. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.11 Deposits and other creditors held with credit institutions established in Belgium (from 1999) 110. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.11.1 Deposits and other creditors held with credit institutions established in Belgium by Belgian non--financial corporations-- outstanding amounts (from 1999) 110. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.11.2 Deposits and other creditors held with credit institutions established in Belgium by Belgian non--monetary financialinstitutions -- outstanding amounts (from 1999) 110. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.11.3 Deposits and other creditors held with credit institutions established in Belgium by the Belgian general government-- outstanding amounts (from 1999) 111. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.11.4 Deposits and other creditors held with credit institutions established in Belgium by Belgian households and non--profitinstitutions serving households -- outstanding amounts (from 1999) 111. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.11.5 Deposits and other creditors held with credit institutions established in Belgium by the rest of the world -- outstandingamounts (from 1999) 112. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15 Chapter 15: financial assets held by non--financial companies and households 113. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15.1 Monetary aggregates of the euro area 113. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15.2 Belgian contribution to the monetary aggregates of the eurozone 114. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15.2.1 Belgian contribution to the monetary aggregates of the eurozone (until December 2001) 114. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15.2.2 Belgian contribution to the monetary aggregates of the eurozone (from January 2002 onwards) 115. . . . . . . . . . . . . . . . . . . . . . . . . . .
15.3 Formation of financial assets by individuals 116. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15.4 Financial assets held by individuals 117. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15.5 Formation of financial assets by non--financial corporations 118. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15.6 Financial assets held by non--financial corporations 119. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16 Chapter 16: liabilities of households and non-financial companies 120. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.1 Summary tables 120. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.1.1 New financial liabilities of individuals 120. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.1.2 Financial liabilities of individuals 121. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.1.3 New financial liabilities of non--financial corporations 122. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.1.4 Financial liabilities of non--financial corporations 123. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.2 Consumer credit: hire-purchase, instalment-payment loans, leasing and opening of credits 124. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.2.1 Consumer credit: general results 124. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.2.2 Consumer credit: contracts not honoured 125. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.3 Mortgage credit 126. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.3.1 Mortgage credit: applications submitted 126. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.3.2 Mortgage credit: mortgage contracts drawn up 127. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.3.3 Mortgage credit: mortgage registrations 128. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.3.4 Mortgage credit: contracts not honoured 129. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.4 Credits registered at the central office for credits to companies 130. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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16.4.1 Credits of 25,000 EUR and over of wich the beneficiary is a Belgian resident:breakdown by branch of activity of the beneficiary 130. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.4.2 Credits of 25,000 EUR and over of wich the beneficiary is a non--resident:breakdown by geographical area of residence of the beneficiary -- outstanding amounts opened 132. . . . . . . . . . . . . . . . . . . . . . . . . .
17 Chapter 17: capital market 133. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.1 Fixed--interest securities of more than one year per creditor sector 133. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.2 Fixed--interest securities of more than one year held by individuals 134. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.3 Fixed--interest securities of more than one year: breakdown by issuing sector and by holding sector 135. . . . . . . . . . . . . . . . . . . . . .
17.4 Public issues, by the public sector, of bonds in national currency 136. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.5 Holdership of dematerialised linear bonds 138. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.6 Outstanding amount of linear bonds 139. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.8 Issues shares 141. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.9 Stock exchange activity 142. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.11 Number and inventory value of collective investment institutions governed by Belgian law 143. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18 Chapter 18: money market 144. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.6 Issuing of three-month treasury certificates 144. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.7 Issuing of six-month treasury certificates 145. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.8 Issuing of twelve-month treasury certificates 146. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.10 Transactions on the secondary market in dematerialised securities recorded by the National Bank of Belgium’s securitiesclearing system 147. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.11 Holdership of dematerialised treasury certificates 148. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.12 Holdership of dematerialised treasury bills and certificates of deposit issued in euro 149. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.12.1 Holdership of dematerialised treasury bills issued in euro 149. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.12.2 Holdership of dematerialised certificates of deposit issued in euro 149. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.13 Holdership of dematerialised treasury bills and certificates of deposit issued in currencies other than the euro 150. . . . . . . . . . . . . . .
18.13.1 Holdership of dematerialised treasury bills issued in currencies other than the euro 150. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.13.2 Holdership of dematerialised certificates of deposit issued in currencies other than the euro 150. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19 Chapter 19: interest rates 151. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19.1 Official interest rates 151. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19.1.2 Main interest rates of the monetary policy of the Eurosystem 151. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19.2 Reference interest rates on the secondary market for treasury certificates issued by the Belgian government 152. . . . . . . . . . . . . .
19.3 EONIA and EURIBOR 153. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19.4 Debtor interest rates in national currency of Belgian credit institutions 154. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19.5 Creditor interest rates in national currency of Belgian credit institutions 156. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19.6 Long-term yield rates on the Belgian secondary market for bonds issued by the Belgian public sector 158. . . . . . . . . . . . . . . . . . . . .
19.7 Interest rates on three-month euro-currency deposits 159. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19.8 Gross yield rates of 10 year Benchmark bond on the secondary market: international comparison 160. . . . . . . . . . . . . . . . . . . . . . . .
19.9 Official interest rates or intervention rates of foreign central banks 161. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Statistical bulletin of the National Bank of Belgium (2003--IV)
ATM Automated Teller Machine
ATS Austrian Shilling
BEF Belgian Franc
BFC Banking and Finance Commission
BIS Bank of International Settlements
BLEU Belgian-Luxembourg Economic Union
CCCO Central Consumer Credit Office
CEC Centre for Exchange and Clearing
CIS Commonwealth of Independent States
CIU Collective Investment Undertakings
DEM German Mark
EC European Commission
EC European Community
ECB European Central Bank
ELLIPS Electronic Large-value Interbank Payment System
EMCF European Monetary Co-operation Fund
EMI European Monetary Institute
EMS European Monetary System
EMU Economic and Monetary Union
EONIA Euro Overnight Index Average
ERM Exchange Rate Mechanism
ESA European System of Accounts
ESAF Enhanced Structural Adjustment Facility
ESCB European System of the Central Banks
ESP Spanish Peseta
EU European Union
EUR Euro
EURIBOR Euro Inter Bank Offered Rate
EUROSTAT European Communities Office of Statistics
FIM Finnish Markka
FRF French Franc
GDP Gross domestic product
HWWA Hamburgisches Welt-Wirtschafts-Archiv
IEA Institut Economique Agricole
IEP Irish Pound
IMF International Monetary Fund
ITL Italian Lire
kWh KiloWatt-hour
LUF Luxembourger Franc
LIST OF ABBREVIATIONS
Statistical bulletin of the National Bank of Belgium (2003--IV) 7
MB Moniteur Belge
MEA Ministry of Economic Affairs
MEL Ministry of Employment and Labour
MERCOSUR Mercado Commun del Sur
MF Ministry of Finance
MFI Monetary Financial Institution
MUMS Monetary Union Member States
NACE Nomenclature des Activités économiques dans les Communautés européennes
NAFTA North American Free Trade Agreement
NAI National Accounts Institute
NBB National Bank of Belgium
NEMO National Employment Office
NLG Dutch Gulden
NPI Nonprofit Institution
NSI National Statistical Institute
OECD Organisation for Economic Co-operation and Development
OLO Linear Bond
OSSOM Office de la Sécurité Sociale d'Outre-Mer
PCO Postal Cheque Office
PFE Federation of the Electricity Generators and Distributors in Belgium (BFE -FPE)
POS Point of Sale
PRIME Projets Régionaux d'Insertion dans le Marché de l'Emploi (Région wallonne)
PTE Portuguese Escudo
RD Royal Decree
RGI Rediscount and Guarantee Institute
SDR Special Drawing Rights
SICAV Société d'Investissement à Capital Variable
SNCB/NMBS Société Nationale des Chemins de Fer Belges
VAT Value added tax
8 Statistical bulletin of the National Bank of Belgium (2003--IV)
CONVENTIONAL SIGNS
e estimation
p provisional
-- The data does not exist or is meaningless
n.a. not available
p.m. pro memoria
p.c. per cent
0 or 0.0 zero or less than the half of the last chosen unit
GENERAL REMARK
The totals shown can differ from the sum of the items because of roundings.
The publication schedule for the most important economic statistics compiled by the Bank and the NAI is given on the Bank’s website(http://www.nbb.be/DQ/E/dq3/calweb.htm).In order to meet the obligations imposed by the SDDS (the IMF’s Special Data Dissemination Standard), this schedule also covers allthe statistics included in the SDDS. Publication dates are those given by the institution responsible for compiling the statistics; someof these institutions publish via their own media more detailed schedules for statistics than those given on the Bank’s website.
Statistical bulletin of the National Bank of Belgium (2003--IV) 9
10
QUARTERLY FINANCIAL STATEMENT OF THE NATIONAL BANK OF BELGIUM AS AT 31 DECEMBER 2003
1 Items not related to monetary policy operations
In the quarter ending 31 December 2003, the net position in foreign currency (asset items 2 and 3 minus liability items 6, 7 and 8) decreased by € 664 million to € 7,369 million. The position in gold (asset item 1) increased by € 3 million to € 2,739 million, due to the quarterly revaluation. The holdings by the Bank of securities of euro area residents denominated in euro (asset item 7) decreased by € 178 million to € 4,109 million. Banknotes in circulation (liability item 1) increased by € 1 420 million to € 14,200 million1. Liabilities to general government (liability item 4.1) increased by € 2 million to € 152 million. The debt to the European Central Bank (liability item 9.3) increased by € 5,883 million to € 17,846 million.
2 Items related to monetary policy operations The Eurosystem's net lending to its counterparties in the Belgian financial sector through open market operations (asset items 5.1 to 5.4 minus liability items 2.3 and 2.4) increased by € 6,652 million to € 16,749 million. Neither the marginal lending facility (asset item 5.5) nor the deposit facility (liability item 2.2) were used as at 31 December 2003.
3 Current accounts of the euro area financial sector The current account position of counterparties with the Bank (liability item 2.1) increased by € 1,074 million to € 8,325 million.
4 Quarterly revaluation of balance sheet items According to the harmonised accounting rules for the Eurosystem, gold, foreign exchange, security holdings and financial instruments are revalued at market rates and prices at the end of each quarter. The net impact of the revaluation as at 31 December 2003 on the balance sheet items is entered in the items "Other assets" (asset item 9), "Other liabilities" (liability item 10) and "Revaluation accounts" (liability item 11).
1 From 2002 onwards, 8 % of the total value of the banknotes in circulation has been allocated to the ECB, while the remaining 92 % has been allocated to
the NCBs according to their weightings in the capital key of the ECB. The share of banknotes allocated to each NCB is disclosed under the balance sheet liability item "Banknotes in circulation".
The difference between the value of the euro banknotes allocated to each NCB in accordance with the banknote allocation key and the value of the euro banknotes that it actually puts into circulation by each NCB gives rise to intra-Eurosystem balances. These claims or liabilities, which incur interest, are disclosed under the sub-item "Intra-Eurosystem: claims/liabilities related to the allocation of euro banknotes within the Eurosystem".
Statistical bulletin of the National Bank of Belgium (2003--IV)
Boulevard de Berlaimont 14 • B-1000 BRUSSELS Boulevard de Berlaimont 14 • B-1000 BRUSSELS HR Brussels nr 22.300 - VAT BE 203.201.340 HR Brussels nr 22.300 - VAT BE 203.201.340
Situation at Situation at30/09/2003 31/12/2003 Differencesafter reval. after reval.
(in million euro) (in million euro)
A S S E T S A S S E T S 1 Gold and gold receivables 2.736 2.739 +3 1 Gold and gold receivables 2 Claims on non-euro area residents 2 Claims on non-euro area residents
denominated in foreign currency denominated in foreign currency 2.1 Receivables from the IMF 3.239 3.026 -213 2.1 Receivables from the IMF 2.2 Balances with banks and security investments, external 6.189 5.678 -511 2.2 Balances with banks and security investments, external
loans and other external assets loans and other external assets 3 Claims on euro area residents denominated 298 321 +23 3 Claims on euro area residents denominated
in foreign currency in foreign currency 4 Claims on non-euro area residents 89 245 +156 4 Claims on non-euro area residents
denominated in euro denominated in euro 5 Lending to euro area credit institutions related 5 Lending to euro area credit institutions related
to monetary policy operations to monetary policy operations denominated in euro denominated in euro
5.1 Main refinancing operations 10.097 16.749 +6.652 5.1 Main refinancing operations 5.2 Longer-term refinancing operations - - - 5.2 Longer-term refinancing operations 5.3 Fine-tuning reverse operations - - - 5.3 Fine-tuning reverse operations 5.4 Structural reverse operations - - - 5.4 Structural reverse operations 5.5 Marginal lending facility - - - 5.5 Marginal lending facility 5.6 Credits related to margin calls - - - 5.6 Credits related to margin calls
6 Other claims on euro area credit institutions - - - 6 Other claims on euro area credit institutions denominated in euro denominated in euro
7 Securities of euro area residents 4.287 4.109 -178 7 Securities of euro area residents denominated in euro denominated in euro
8 Intra-Eurosystem claims 8 Intra-Eurosystem claims 8.1 Participating interest in ECB 143 143 - 8.1 Participating interest in ECB 8.2 Claims equivalent to the transfer 1.433 1.433 - 8.2 Claims equivalent to the transfer
of foreign reserves of foreign reserves 8.3 Claims related to banknote issue (1) 8.886 11.078 +2.192 8.3 Claims related to banknote issue (1) 8.4 Other claims within the Eurosystem (net) - - - 8.4 Other claims within the Eurosystem (net)
9 Other assets 2.350 2.197 -153 9 Other assets 39.747 47.718 +7.971
L I A B I L I T I E S L I A B I L I T I E S 1 Banknotes in circulation (1) 12.780 14.200 +1.420 1 Banknotes in circulation (1)2 Liabilities to euro area credit institutions related 2 Liabilities to euro area credit institutions related
to monetary policy operations to monetary policy operations denominated in euro denominated in euro
2.1 Current accounts (covering the minimum reserve system) 7.251 8.325 +1.074 2.1 Current accounts (covering the minimum reserve system) 2.2 Deposit facility - - - 2.2 Deposit facility 2.3 Fixed-term deposits - - - 2.3 Fixed-term deposits 2.4 Fine-tuning reverse operations - - - 2.4 Fine-tuning reverse operations 2.5 Deposits related to margin calls - - - 2.5 Deposits related to margin calls
3 Other liabilities to euro area credit institutions - - - 3 Other liabilities to euro area credit institutions denominated in euro denominated in euro
4 Liabilities to other euro area residents 4 Liabilities to other euro area residents denominated in euro denominated in euro
4.1 General government 150 152 +2 4.1 General government 4.2 Other liabilities 17 29 +12 4.2 Other liabilities
5 Liabilities to non-euro area residents 93 271 +178 5 Liabilities to non-euro area residents denominated in euro denominated in euro
6 Liabilities to euro area residents denominated - 52 +52 6 Liabilities to euro area residents denominated in foreign currency in foreign currency
7 Liabilities to non-euro area residents denominated 1.099 1.032 -67 7 Liabilities to non-euro area residents denominated in foreign currency in foreign currency
8 Counterpart of special drawing rights 594 572 -22 8 Counterpart of special drawing rights allocated by the IMF allocated by the IMF
9 Intra-Eurosystem liabilities 9 Intra-Eurosystem liabilities 9.1 Liabilities related to promissory notes - - - 9.1 Liabilities related to promissory notes
backing the issuance of backing the issuance of ECB debt certificates ECB debt certificates
9.2 Liabilities related to banknote issue (1) - - - 9.2 Liabilities related to banknote issue (1) 9.3 Other liabilities within the Eurosystem (net) 11.963 17.846 +5.883 9.3 Other liabilities within the Eurosystem (net) 10 Other liabilities 1.912 1.545 -367 10 Other liabilities 11 Revaluation accounts 2.623 2.429 -194 11 Revaluation accounts 12 Capital and reserves 1.265 1.265 - 12 Capital and reserves
39.747 47.718 +7.971
Statistical bulletin of the National Bank of Belgium (2003--IV) 11
Statistics
1Statistical bulletin of the National Bank of Belgium (2003--IV)
1 CHAPTER 1: NATIONAL ACCOUNTS1.1 YEARLY NATIONAL ACCOUNTS1.1.1 GROSS VALUE ADDED BY INDUSTRY (A31), ESTIMATES AT CURRENT PRICES
(millions of euro)
1997 1998 1999 2000 2001 2002
Agriculture, forestry and fisheries 3,293.7 3,174.7 2,886.5 3,233.0 3,212.7 2,975.2
Metal ores and other mining and quarrying products 344.9 337.3 338.1 351.2 308.5 325.7
Manufacturing industry 40,381.2 41,242.3 41,550.8 44,127.1 43,907.9 44,708.0
Food products, beverages and tobacco 5,328.6 5,365.2 5,549.9 5,557.9 5,937.7 6,345.6
Textiles and textile products 2,254.7 2,299.8 2,279.5 2,287.8 2,232.4 2,267.2
Leather and leather products 103.7 108.6 119.5 96.0 95.1 98.9
Wood and wood products 584.6 604.8 651.9 673.1 743.2 748.0
Pulp, paper and paper products; recorded media; printingservices 3,087.6 3,231.4 3,491.5 3,526.4 3,417.3 3,478.9
Coke, refined petroleum products and nuclear fuel 1,207.0 1,164.3 847.1 1,337.8 1,329.4 1,226.1
Chemicals, chemical products and man-made fibres 7,774.5 7,738.4 7,818.4 8,369.5 8,408.9 8,675.6
Rubber and plastic products 1,509.2 1,540.3 1,673.0 1,620.9 1,739.5 1,827.8
Other non metallic mineral products 2,114.6 2,073.2 2,307.5 2,283.1 2,332.3 2,350.0
Basic metals and fabricated metal products 5,758.7 5,953.1 5,768.6 6,360.7 5,929.3 6,089.9
Machinery and equipment n.e.c. 2,465.7 2,799.1 2,586.0 2,892.9 2,827.0 2,859.5
Electrical and optical equipment 3,499.3 3,314.7 3,415.7 3,838.2 3,494.8 3,454.8
Transport equipment 3,501.0 3,900.4 3,764.9 3,922.7 3,962.7 3,825.8
Other manufactured goods n.e.c. 1,192.0 1,149.0 1,277.3 1,360.1 1,458.3 1,459.9
Electrical energy, gas, steam and hot water 6,113.5 5,936.1 5,859.0 6,019.6 6,035.8 5,900.2
Construction work 9,926.4 10,096.7 10,926.5 11,395.1 11,592.0 11,700.2
Wholesale and retail trade services; repair services of motorvehicles, motorcycles and personal and houdehold goods 23,268.6 23,977.6 25,150.0 26,246.0 27,534.5 27,684.7
Hotel and restaurant services 3,129.1 3,354.1 3,520.7 3,854.5 3,943.7 3,979.4
Transport, storage and communication services 13,353.2 14,429.4 14,932.0 15,417.6 16,188.9 16,698.6
Financial intermediation services 13,158.7 14,180.7 14,388.8 13,452.4 12,526.5 11,984.1
Real estate, renting and business services 41,974.4 44,473.0 47,296.1 50,516.2 53,258.6 54,932.2
Public administration and defence services, compulsory socialsecurity services 16,083.4 16,376.2 17,324.3 18,171.4 18,858.9 19,560.9
Education services 13,258.3 13,725.5 14,024.3 14,435.3 15,089.3 15,846.9
Health and social services 12,442.4 12,925.0 14,199.7 14,922.9 15,997.7 16,856.3
Other community, social and personal services 4,718.7 4,979.2 5,158.8 5,401.7 5,382.5 5,280.9
Private households with employed persons 1,089.5 1,135.6 1,162.0 1,199.7 1,272.0 1,336.9
Financial intermediation services indirectly measured (FISIM) --8,517.5 --9,179.3 --8,821.9 --8,402.3 --8,219.2 --7,886.5
Gross value added (at basic prices) 194,017.9 201,164.6 209,895.7 220,341.4 226,890.3 231,883.7
Taxes on products (D.21) 25,697.0 26,684.9 28,569.4 30,115.6 29,729.4 30,968.3
Subsidies on products (D.31) --2,542.2 --2,605.0 --2,752.0 --2,664.8 --2,819.9 --2,841.3
Gross domestic product (at market prices) 217,173.3 225,244.0 235,713.1 247,792.2 253,799.8 260,010.7
Balance of primary incomes receivable from / payable to therest of the world 4,296.7 4,804.0 4,857.6 4,641.3 4,207.5 5,955.3
Gross national income (at market prices) 221,470.0 230,047.9 240,570.8 252,433.5 258,007.3 265,966.0
Source: NAI
2 Statistical bulletin of the National Bank of Belgium (2003--IV)
1.1.2 GROSS VALUE ADDED BY INDUSTRY (A31), ESTIMATES AT 2000 PRICES
(millions of euro)
1997 1998 1999 2000 2001 2002
Agriculture, forestry and fisheries 2,946.1 3,045.7 3,201.4 3,233.0 2,870.1 3,217.0
Metal ores and other mining and quarrying products 368.6 327.5 312.9 351.2 284.9 280.3
Manufacturing industry 41,484.3 42,101.7 42,103.7 44,127.1 44,310.8 44,739.5
Food products, beverages and tobacco 5,484.6 5,732.9 5,646.7 5,557.9 6,379.3 6,434.7
Textiles and textile products 2,626.4 2,759.4 2,549.2 2,287.8 2,295.6 2,284.3
Leather and leather products 115.3 121.1 119.0 96.0 94.3 95.3
Wood and wood products 567.4 578.0 623.9 673.1 717.8 707.7
Pulp, paper and paper products; recorded media; printingservices 3,332.2 3,312.2 3,543.1 3,526.4 3,412.5 3,458.4
Coke, refined petroleum products and nuclear fuel 1,976.9 2,051.4 1,260.2 1,337.8 1,055.6 1,095.5
Chemicals, chemical products and man-made fibres 7,700.0 7,604.9 7,867.6 8,369.5 8,430.6 8,584.4
Rubber and plastic products 1,483.8 1,456.5 1,530.1 1,620.9 1,703.0 1,776.1
Other non metallic mineral products 2,354.3 2,164.6 2,312.7 2,283.1 2,238.6 2,193.9
Basic metals and fabricated metal products 5,620.8 5,682.1 5,938.0 6,360.7 6,368.8 6,396.8
Machinery and equipment n.e.c. 2,433.9 2,734.4 2,471.2 2,892.9 2,641.5 2,561.6
Electrical and optical equipment 3,008.9 2,813.0 3,095.1 3,838.2 3,347.7 3,508.3
Transport equipment 3,511.0 3,866.3 3,806.5 3,922.7 4,210.4 4,241.6
Other manufactured goods n.e.c. 1,268.8 1,224.9 1,340.4 1,360.1 1,415.1 1,400.9
Electrical energy, gas, steam and hot water 5,358.3 5,112.1 5,671.8 6,019.6 5,964.5 5,735.9
Construction work 10,407.8 10,218.4 10,580.1 11,395.1 11,468.2 11,359.7
Wholesale and retail trade services; repair services of motorvehicles, motorcycles and personal and houdehold goods 25,500.7 25,789.4 26,117.0 26,246.0 26,806.8 27,087.1
Hotel and restaurant services 3,603.2 3,706.5 3,628.5 3,854.5 3,721.4 3,606.1
Transport, storage and communication services 13,005.5 13,829.3 14,501.9 15,417.6 16,171.7 16,360.1
Financial intermediation services 14,514.9 14,709.8 14,804.2 13,452.4 12,230.4 11,704.6
Real estate, renting and business services 44,454.7 46,292.9 47,971.0 50,516.2 52,045.1 52,324.2
Public administration and defence services, compulsory socialsecurity services 16,863.1 16,947.5 17,488.0 18,171.4 18,398.4 18,330.3
Education services 14,025.7 14,280.9 14,439.2 14,435.3 14,667.6 14,767.2
Health and social services 13,399.8 13,201.4 14,255.8 14,922.9 15,606.0 15,811.9
Other community, social and personal services 4,958.1 5,154.8 5,220.0 5,401.7 5,194.9 4,973.7
Private households with employed persons 1,150.8 1,181.0 1,189.4 1,199.7 1,211.1 1,215.9
Financial intermediation services indirectly measured (FISIM) --9,563.0 --9,403.1 --9,042.4 --8,402.3 --8,019.4 --7,570.5
Gross value added (at basic prices) 202,478.4 206,495.8 212,442.7 220,341.4 222,932.3 223,943.0
Taxes on products (D.21) 26,816.2 27,396.6 28,969.4 30,115.6 29,203.7 29,912.2
Subsidies on products (D.31) --2,652.9 --2,674.5 --2,790.6 --2,664.8 --2,770.0 --2,744.4
Gross domestic product (at market prices) 226,641.7 231,218.0 238,621.5 247,792.2 249,366.0 251,110.8
Source: NAI
3Statistical bulletin of the National Bank of Belgium (2003--IV)
1.1.3 EXPENDITURE OF THE NATIONAL PRODUCT, ESTIMATES AT CURRENT PRICES
(millions of euro)
1997 1998 1999 2000 2001 2002
Final consumption expenditure of households in Belgium(inland) 112,564.1 117,128.0 121,254.8 128,527.1 132,808.1 134,978.3
Food and non-alcoholic beverages 15,705.5 16,039.4 15,748.3 16,181.6 17,142.4 18,286.9
Alcoholic beverages and tobacco 4,340.9 4,559.9 4,642.9 4,790.5 4,841.8 5,264.9
Clothing and footwear 6,777.4 6,899.1 6,923.6 7,208.6 7,305.1 7,474.4
Housing, water, electricity, gas and other fuels 26,930.6 27,295.6 27,797.1 29,571.6 30,933.6 31,680.7
Furnishing, household equipment and routine maintenanceof the dwelling 7,070.1 7,099.4 7,232.0 7,252.5 7,640.1 7,819.4
Health 4,674.9 4,865.2 5,081.9 5,418.8 5,668.8 5,880.9
Transport 15,775.8 16,903.6 17,956.4 19,638.4 19,724.5 19,772.8
Communication 1,910.2 2,156.2 2,494.0 2,791.1 2,847.0 2,938.1
Recreation and culture 10,479.2 10,982.6 11,831.8 12,593.7 12,659.1 12,024.8
Education 447.1 463.1 513.9 634.7 774.3 788.0
Restaurants, pubs and hotels 6,005.5 6,147.6 6,501.1 7,012.8 7,335.9 7,569.0
Miscellaneous goods and services 12,446.9 13,716.3 14,531.8 15,432.8 15,935.5 15,478.4
Final consumption expenditure of Belgian householdsabroad 5,570.4 5,912.0 7,426.4 8,179.8 8,723.9 8,721.9
Final consumption expenditure of the non residenthouseholds in Belgium --3,196.8 --3,317.6 --4,844.8 --5,762.0 --6,177.6 --5,705.6
Final consumption expenditure of households (national) 114,937.7 119,722.4 123,836.4 130,944.9 135,354.4 137,994.6
Final consumption expenditure of NPIs 2,646.1 2,689.7 2,914.9 3,214.4 3,210.3 3,519.4
Final consumption expenditure of the general govern-ment 46,003.2 47,478.5 49,956.6 52,418.9 55,091.2 58,055.9
Individual consumption expenditure 29,148.7 30,283.5 31,533.7 32,926.8 34,875.8 36,610.1
Collective consumption expenditure 16,854.5 17,195.0 18,422.9 19,492.1 20,215.4 21,445.8
Gross capital formation 44,338.0 46,444.4 49,308.0 52,626.1 53,090.8 51,558.0
Changes in inventories --312.5 --694.7 --520.8 988.3 --1,098.2 --592.7
Net exports of goods and services 9,560.8 9,603.7 10,217.9 7,599.7 8,151.3 9,475.5Exports of goods and services 162,241.0 169,815.7 178,452.5 211,998.5 217,799.0 218,020.1
Imports of goods and services 152,680.2 160,212.0 168,234.6 204,398.8 209,647.7 208,544.6
Gross domestic product (at market prices) 217,173.3 225,244.0 235,713.1 247,792.2 253,799.8 260,010.7
Balance of primary incomes receivable from / payable to therest of the world 4,296.7 4,804.0 4,857.6 4,641.3 4,207.5 5,955.3
Gross national income (at market prices) 221,470.0 230,047.9 240,570.8 252,433.5 258,007.3 265,966.0
Source: NAI
4 Statistical bulletin of the National Bank of Belgium (2003--IV)
1.1.4 EXPENDITURE OF THE NATIONAL PRODUCT, ESTIMATES AT 2000 PRICES
(millions of euro)
1997 1998 1999 2000 2001 2002
Final consumption expenditure of households in Belgium(inland) 117,566.4 121,212.4 123,955.0 128,527.1 129,595.9 129,600.0
Food and non-alcoholic beverages 16,111.5 16,105.6 15,824.3 16,181.6 16,371.9 17,170.4
Alcoholic beverages and tobacco 4,547.2 4,719.5 4,700.0 4,790.5 4,744.1 5,081.2
Clothing and footwear 6,724.7 6,786.0 6,762.1 7,208.6 7,245.1 7,362.9
Housing, water, electricity, gas and other fuels 28,275.9 28,590.1 28,733.9 29,571.6 30,171.6 30,641.4
Furnishing, household equipment and routine maintenanceof the dwelling 7,280.5 7,252.9 7,264.8 7,252.5 7,448.2 7,523.6
Health 5,056.8 4,961.3 5,105.7 5,418.8 5,555.6 5,683.3
Transport 17,207.0 18,458.3 19,059.1 19,638.4 19,288.3 19,054.6
Communication 1,746.8 1,994.0 2,435.3 2,791.1 3,047.9 3,137.5
Recreation and culture 10,744.4 11,156.6 11,947.5 12,593.7 12,301.6 11,614.3
Education 474.5 480.7 520.4 634.7 754.2 745.5
Restaurants, pubs and hotels 6,290.6 6,351.5 6,604.1 7,012.8 7,181.6 7,128.9
Miscellaneous goods and services 13,106.5 14,355.9 14,997.8 15,432.8 15,485.8 14,456.4
Final consumption expenditure of Belgian householdsabroad 6,063.5 6,330.7 7,799.3 8,179.8 8,530.0 8,312.5
Final consumption expenditure of the non residenthouseholds in Belgium --3,479.8 --3,552.6 --4,426.8 --5,762.0 --6,040.1 --5,437.7
Final consumption expenditure of the households (na-tional) 120,150.1 123,990.5 126,666.3 130,944.9 132,085.8 132,474.8
Final consumption expenditure of NPIs 2,816.8 2,827.0 3,027.4 3,214.4 3,122.9 3,298.4
Final consumption expenditure of the general govern-ment 48,770.7 49,260.8 51,056.3 52,418.9 53,826.1 54,873.5
Individual consumption expenditure 31,126.1 31,489.4 32,438.6 32,926.8 34,060.5 34,608.1
Collective consumption expenditure 17,644.6 17,771.4 18,617.7 19,492.1 19,765.6 20,265.4
Gross capital formation 46,754.9 48,279.2 50,398.7 52,626.0 52,778.3 51,470.3
Changes in inventories 997.3 1,499.1 346.7 988.4 --541.6 1,101.1
Net exports of goods and services 7,151.9 5,361.4 7,126.1 7,599.7 8,094.4 7,892.6Exports of goods and services 175,617.2 186,157.2 195,579.4 211,998.5 214,664.7 216,855.1
Imports of goods and services 168,465.3 180,795.8 188,453.3 204,398.8 206,570.3 208,962.5
Gross domestic product (at market prices) 226,641.7 231,218.0 238,621.5 247,792.2 249,366.0 251,110.8
Source: NAI
5Statistical bulletin of the National Bank of Belgium (2003--IV)
1.1.5 DISTRIBUTION OF THE NATIONAL PRODUCT, ESTIMATES AT CURRENT PRICES
(millions of euro)
1997 1998 1999 2000 2001 2002
Compensation of employees (D.1) 111,440.2 115,254.3 121,310.3 126,838.8 134,047.7 139,342.5Wages and salaries (D.11) 82,549.1 85,029.6 89,997.1 94,763.2 100,011.1 103,780.2
Employers’ social contributions (D.12) 28,891.1 30,224.8 31,313.2 32,075.6 34,036.6 35,562.3
Gross operating surplus (B.2g) + mixed income (B.3g) 87,973.6 92,035.9 94,274.4 98,952.8 98,047.2 97,332.9Corporations (S.11+S.12) 48,422.7 51,876.8 53,038.9 56,267.1 54,619.8 53,392.3
General government (S.13) 3,704.9 3,735.3 3,803.7 3,963.6 4,046.4 4,228.1
Households (S.14) and non profit institutions serving households(S.15) 35,846.0 36,423.8 37,431.8 38,722.1 39,381.0 39,712.5
Financial intermediation services indirectly measured (FISIM) --8,517.5 --9,179.3 --8,821.9 --8,402.3 --8,219.2 --7,886.5
Taxes on production and imports (D.2) 30,137.3 31,208.9 33,260.9 34,789.2 34,661.5 35,999.8Taxes on production (D.21) 25,697.0 26,684.9 28,569.4 30,115.6 29,729.4 30,968.3
Other taxes on production (D.29) 4,440.3 4,524.0 4,691.5 4,673.6 4,932.1 5,031.5
Subsidies (D.3) --3,860.3 --4,075.8 --4,310.6 --4,386.3 --4,737.4 --4,778.0Subsidies on products (D.31) --2,542.2 --2,605.0 --2,752.0 --2,664.8 --2,819.9 --2,841.3
Other subsidies on products (D.39) --1,318.1 --1,470.8 --1,558.6 --1,721.5 --1,917.5 --1,936.7
Gross domestic product (at market prices) 217,173.3 225,244.0 235,713.1 247,792.2 253,799.8 260,010.7
Balance of primary incomes receivable from / payable to the rest ofthe world 4,296.7 4,804.0 4,857.6 4,641.3 4,207.5 5,955.3
Gross national income (at market prices) 221,470.0 230,047.9 240,570.8 252,433.5 258,007.3 265,966.0
Source: NAI
6 Statistical bulletin of the National Bank of Belgium (2003--IV)
1.2 QUARTERLY NATIONAL ACCOUNTS1.2.1 GROSS VALUE ADDED BY BRANCH OF ACTIVITY, ESTIMATES AT CURRENT PRICES
(estimates at basic prices, in milllions of euro, estimates at current prices, data adjusted for seasonal and calendar effects)
2001 2002 2001 2002 20032001 2002
III IV I II III IV I II
Agriculture, hunting, forestry and fisheries 3,214 2,973 793 789 788 726 725 734 798 763
Industry 50,255 50,867 12,539 12,319 12,652 12,819 12,767 12,629 12,799 12,661
Building industry 11,639 11,686 2,885 2,927 2,833 2,893 2,940 3,020 3,008 2,856
ServicesTrade, transport and communications 47,672 48,379 11,915 11,867 11,947 12,079 12,237 12,116 12,245 12,283
Financial, real estate, renting and busi-ness activities 65,770 66,940 16,541 16,686 16,724 16,629 16,718 16,869 17,142 17,341
Public administration and education 33,949 35,408 8,556 8,621 8,758 8,837 8,897 8,916 9,002 9,008
Other service activities 22,647 23,472 5,729 5,571 5,703 5,839 5,893 6,037 5,973 6,003
Total Services 170,038 174,199 42,740 42,746 43,133 43,383 43,745 43,938 44,363 44,635
Other components 1 18,742 20,225 4,733 4,676 4,881 5,029 5,113 5,202 5,204 5,314
Gross domestic product at market pri-ces 253,889 259,949 63,690 63,456 64,287 64,850 65,289 65,523 66,171 66,230
Source: NAI
1 Taxes minus subsidies on products and financial intermediation services indirectly measured (FISIM).
1.2.2 GROSS VALUE ADDED BY BRANCH OF ACTIVITY, ESTIMATES AT 2000 PRICES
(estimates at basic prices, in milllions of euro, estimates at current prices, data adjusted for seasonal and calendar effects)
2001 2002 2001 2002 20032001 2002
III IV I II III IV I II
Agriculture, hunting, forestry and fisheries 2,871 3,218 705 728 775 802 817 825 825 828
Industry 50,560 50,695 12,658 12,402 12,572 12,777 12,773 12,574 12,647 12,553
Building industry 11,475 11,348 2,853 2,840 2,793 2,797 2,846 2,911 2,915 2,741
ServicesTrade, transport and communications 46,708 47,064 11,631 11,585 11,632 11,745 11,915 11,771 11,804 11,839
Financial, real estate, renting and busi-ness activities 64,208 64,054 16,086 16,061 16,082 15,939 15,947 16,085 16,200 16,274
Public administration and education 33,066 33,097 8,278 8,281 8,272 8,270 8,273 8,282 8,298 8,313
Other service activities 22,038 22,000 5,538 5,317 5,373 5,488 5,502 5,637 5,567 5,555
Total Services 166,020 166,215 41,534 41,244 41,360 41,442 41,637 41,776 41,869 41,981
Other components 1 18,461 19,592 4,621 4,555 4,767 4,846 4,937 5,043 5,018 5,082
Gross domestic product at market pri-ces 249,387 251,069 62,371 61,769 62,266 62,664 63,010 63,129 63,274 63,185
Source: NAI
1 Taxes minus subsidies on products and financial intermediation services indirectly measured (FISIM).
7Statistical bulletin of the National Bank of Belgium (2003--IV)
1.2.3 MAIN CATEGORIES OF EXPENDITURE, ESTIMATES AT CURRENT PRICES
(millions of euro, estimates at current prices, data adjusted for seasonal and calendar effects)
2001 2002 2001 2002 20032001 2002
III IV I II III IV I II
Private final consumption expenditure 1 138,665 141,549 34,837 34,830 34,841 35,288 35,657 35,763 36,205 36,497
Final consumption expenditure of gen-eral government 55,112 58,082 13,685 14,100 14,099 14,436 14,749 14,798 14,774 14,980
Gross domestic capital formationGross fixed capital formation
Gross fixed capital formation by enter-prises, self-employed workers and non-profit institutions 36,566 35,059 9,235 8,999 8,959 8,685 8,608 8,807 8,738 8,590
Gross fixed capital formation in dwel-lings 2 12,461 12,451 3,151 3,114 3,134 3,105 3,116 3,096 3,159 3,203
Gross fixed capital formation by publicadministrations 3,962 4,091 1,060 744 1,066 1,066 1,069 889 1,045 1,045
Total Gross fixed capital formation 52,989 51,600 13,446 12,856 13,160 12,856 12,793 12,792 12,942 12,838
Changes in inventories --1,315 --1,020 --651 --987 --273 --976 --207 437 390 --818
Total Gross domestic capital formation 51,673 50,581 12,795 11,868 12,886 11,880 12,586 13,229 13,332 12,020
Net exports of goods and services (exports- imports)
Total exports 218,331 218,052 53,720 53,137 53,402 55,131 54,471 55,048 54,651 53,110
Total imports 209,893 208,315 51,348 50,479 50,941 51,886 52,174 53,314 52,791 50,379
Total Net exports of goods and services(exports - imports) 8,437 9,737 2,372 2,658 2,460 3,245 2,298 1,733 1,860 2,732
Gross domestic product at market pri-ces 253,889 259,949 63,690 63,456 64,287 64,850 65,289 65,523 66,171 66,230
Sources: ICN
1 Final consumption expenditure of households and non-profit institutions (NPIs).2 Including renovation works, registration fees and costs of notarial deeds.
8 Statistical bulletin of the National Bank of Belgium (2003--IV)
1.2.4 MAIN CATEGORIES OF EXPENDITURE, ESTIMATES AT 2000 PRICES
(millions of euro, estimates at current prices, data adjusted for seasonal and calendar effects)
2001 2002 2001 2002 20032001 2002
III IV I II III IV I II
Private final consumption expenditure 1 135,315 135,811 33,802 33,775 33,677 33,889 34,119 34,126 34,343 34,498
Final consumption expenditure of gen-eral government 53,785 54,828 13,455 13,493 13,570 13,673 13,769 13,816 13,833 13,899
Gross domestic capital formationGross fixed capital formation
Gross fixed capital formation by enter-prises, self-employed workers and non-profit institutions 36,411 35,597 9,201 8,998 9,073 8,832 8,749 8,944 8,956 8,787
Gross fixed capital formation in dwel-lings 2 12,324 11,920 3,093 3,060 3,026 2,980 2,959 2,955 2,976 3,008
Gross fixed capital formation by publicadministrations 3,931 3,994 1,052 733 1,051 1,044 1,038 860 995 994
Total Gross fixed capital formation 52,666 51,512 13,345 12,791 13,151 12,855 12,746 12,759 12,927 12,790
Changes in inventories --833 1,171 --425 --483 --366 --470 938 1,069 844 176
Total Gross domestic capital formation 51,832 52,683 12,920 12,308 12,785 12,385 13,684 13,828 13,771 12,967
Net exports of goods and services (exports- imports)
Total exports 215,104 216,738 53,263 52,704 52,994 54,854 54,255 54,635 53,643 53,350
Total imports 206,649 208,990 51,070 50,510 50,760 52,137 52,816 53,277 52,316 51,528
Total Net exports of goods and services(exports - imports) 8,455 7,747 2,194 2,194 2,234 2,716 1,438 1,358 1,327 1,822
Gross domestic product at market pri-ces 249,387 251,069 62,371 61,769 62,266 62,664 63,010 63,129 63,274 63,185
Sources: ICN
1 Final consumption expenditure of households and non-profit institutions (NPIs).2 Including renovation works, registration fees and costs of notarial deeds.
1.2.5 MAIN CATEGORIES OF INCOME, ESTIMATES AT CURRENT PRICES
(millions of euro, estimates at current prices, data adjusted for seasonal and calendar effects)
2001 2002 2001 2002 20032001 2002
III IV I II III IV I II
Compensation of employeesWages and salaries 100,017 103,882 25,043 25,438 25,644 25,902 26,097 26,239 26,124 26,296
Employers’ social contributions 34,047 35,570 8,549 8,688 8,791 8,883 8,930 8,966 8,965 8,994
Total Compensation of employees 134,064 139,452 33,592 34,126 34,435 34,785 35,028 35,205 35,089 35,290
Gross operating surplus and grossmixed income 1 89,853 89,287 22,551 21,872 22,265 22,244 22,416 22,363 23,122 22,827
Taxes less subsidies on products and im-ports 29,972 31,209 7,547 7,458 7,588 7,821 7,846 7,955 7,959 8,113
Gross domestic income at market pri-ces 253,889 259,949 63,690 63,456 64,287 64,850 65,289 65,523 66,171 66,230
Sources: ICN
1 Including consumption of fixed capital.
9Statistical bulletin of the National Bank of Belgium (2003--IV)
2 CHAPTER 2: BUSINESS SURVEYS2.1 MONTHLY BUSINESS SURVEYS2.1.1 OVERALL SYNTHETIC CURVE AND COMMENT
-30
-20
-10
0
10
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003-30
-20
-10
0
10
Seasonally adjusted and smoothed series Seasonally adjusted series
OVERALL SYNTHETIC CURVE(industry, trade, building)
BUSINESS CONFIDENCE CONTINUES TO RISE IN DECEMBER
In December the gross overall synthetic curve of the
National Bank of Belgium rose to its highest level in 14
months.
The continuing improvement in the economic climate was
the result of strengthening business confidence in
manufacturing industry and trade. In contrast, there was a
slight decline in optimism in the building sector.
The smoothed overall synthetic curve which, by
eliminating extremes, reflects the fundamental trend in
economic activity after a time-lag of a few months,
continued to rise.
In business-related services, the results of which are not
included in the overall synthetic indicator, the gross
indicator fell slightly in December. However, in this sector,
the smoothed synthetic curve maintained its clear upward
trend.
10 Statistical bulletin of the National Bank of Belgium (2003--IV)
-30
-25
-20
-15
-10
-5
0
5
10
15
1997 1998 1999 2000 2001 2002 2003
-15
-10
-5
0
5
10
15
20
25
30
1997 1998 1999 2000 2001 2002 2003
-30
-25
-20
-15
-10
-5
0
5
10
15
1997 1998 1999 2000 2001 2002 2003
-30
-25
-20
-15
-10
-5
0
5
10
15
1997 1998 1999 2000 2001 2002 2003
MANUFACTURING INDUSTRY TRADE
BUSINESS-RELATED SERVICES¹ BUILDING INDUSTRY
Seasonally adjusted and smoothed series Seasonally adjusted series
2.1.2 MANUFACTURING INDUSTRY, TRADE, BUSINESS-RELATED SERVICES AND BUILDING INDUSTY
¹ The curve of business-related services is not incorporated in the overall curve.
11Statistical bulletin of the National Bank of Belgium (2003--IV)
2.1.3 NUMERICAL VALUE OF SYNTHETIC CURVES2.1.3.1 MANUFACTURING INDUSTRY, BUILDING INDUSTRY, TRADE AND OVERALL CURVE
(balances, seasonally adjusted and smoothed)
Manufacturing industry Building industry excluding civil en-geneering and roadworks
Trade Overall curve
Seasonally ad-justed andsmoothed se-ries 1
Seasonally ad-justed series
Seasonally ad-justed andsmoothed se-ries 1
Seasonally ad-justed series
Seasonally ad-justed andsmoothed se-ries 1
Seasonally ad-justed series
Seasonally ad-justed andsmoothed se-ries 1
Seasonally ad-justed series
2001 December --16.6 --19.0 --4.3 --3.7 --8.3 --8.3 --13.9 --15.1
2002 January --15.4 --16.9 --4.8 --4.4 --7.1 --2.3 --12.8 --12.8
February --13.4 --14.1 --5.7 --4.4 --5.3 --11.0 --11.2 --12.2
March --11.1 --9.9 --6.9 --7.7 --3.4 --5.0 --9.5 --8.8
April --9.1 --8.3 --8.1 --9.4 --1.9 --1.3 --8.0 --7.4
May --7.9 --1.6 --9.0 --8.4 --0.9 --1.3 --7.0 --2.6
June --7.5 --5.5 --9.5 --10.6 --0.3 --0.3 --6.6 --5.5
July --7.7 --7.4 --9.7 --9.4 0.3 0.8 --6.5 --6.5
August --8.2 --7.6 --9.2 --10.9 0.8 2.5 --6.8 --6.6
September --8.8 --9.8 --8.2 --9.9 0.9 1.2 --7.2 --8.2
October --9.6 --10.5 --7.0 --5.1 0.7 0.2 --7.7 --8.1
November --10.4 --9.0 --5.9 --5.6 --0.2 5.3 --8.4 --6.3
December --11.6 --12.9 --5.1 --3.4 --1.9 --5.2 --9.4 --10.3
2003 January --13.2 --15.5 --4.7 --8.3 --4.1 --0.2 --10.7 --12.1
February --15.1 --10.5 --4.4 --4.0 --6.8 --6.0 --12.4 --8.9
March --16.8 --17.4 --4.3 --5.0 --9.0 --20.5 --14.0 --16.0
April --18.1 --20.5 --4.3 --4.0 --10.3 --14.0 --15.2 --17.1
May --18.7 --18.3 --4.4 --4.0 --10.9 --10.0 --15.7 --14.9
June --18.3 --26.5 --4.5 --8.3 --11.0 --11.5 --15.3 --21.5
July --17.2 --19.3 --4.1 --7.3 --10.9 --9.5 --14.3 --16.0
August --15.5 --14.3 --3.2 --4.4 --10.9 --10.5 --13.0 --12.2
September --14.5 --0.7 --13.5 --12.3
October --10.6 --1.3 --11.7 --9.4
November --8.8 --0.6 --11.0 --7.9
December --6.9 --1.6 --9.2 --6.5
1 The smoothed series are based on the seasonally adjusted series.
12 Statistical bulletin of the National Bank of Belgium (2003--IV)
2.1.3.2 OVERALL BUILDING INDUSTRY AND BUSINESS-RELATED SERVICES
(balances, seasonally adjusted and smoothed)
Building industry including civil engeneeringand roadworks 1
Business-related services 2
Seasonally adjustedand smoothed series 3
Seasonally adjustedseries
Seasonally adjustedand smoothed series 3
Seasonally adjustedseries
2001 December --6.0 --6.0 --3.0 --5.8
2002 January --6.2 --6.2 --1.7 --2.7
February --6.5 --5.8 --0.2 2.4
March --7.2 --7.2 1.0 0.3
April --8.0 --9.6 1.3 2.7
May --8.8 --7.4 0.6 2.6
June --9.3 --10.1 --0.6 --0.4
July --9.5 --9.6 --1.4 --3.2
August --9.3 --11.1 --1.9 --2.2
September --8.9 --9.1 --2.1 --3.3
October --8.4 --8.1 --2.0 --1.9
November --7.7 --6.9 --2.1 0.4
December --7.1 --5.5 --2.4 --0.6
2003 January --6.7 --9.1 --2.9 --3.9
February --6.4 --5.2 --3.8 --2.9
March --6.3 --6.3 --4.9 --8.5
April --6.3 --6.3 --5.7 --8.4
May --6.3 --6.1 --5.9 --3.0
June --6.0 --8.5 --5.2 --6.9
July --5.4 --6.9 --3.7 --6.5
August --4.5 --4.6 --1.5 --2.2
September --0.8 0.8
October --1.8 4.0
November --2.7 4.1
December --3.8 3.5
1 Weighted average of the curve for the carcase work of buildings(70 p.c.) and the synthetic curve for civil engineering and road-works (30 p.c.). Although the civil engineering and roadworkssector is not taken into consideration for the calculation of theoverall synthetic curve, as its movement is not normally parallelwith that of the cyclical trend, it is nevertheless appropriate to
have an indicator which covers the whole of the building industry,as do most statistics.
2 The curve of business-related services is not incorporated in theoverall curve.
3 The smoothed series are based on the seasonally adjusted se-ries.
13S
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2.1.4 NUMERICAL VALUE OF NATIONAL SYNTHETIC CURVES AND THEIR COMPONENTS: MANUFACTURING INDUSTRY
(balances, seasonally adjusted and smoothed)
Trend Appraisal Forecasts Synthetic curve p.m. Selling prices 1
Production rate Domestic orders Export orders Total order book Export order book Stocks of finishedproducts
Employment Demand Season-ally ad-justed
Season-ally ad-justed
Trend Forecast
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
ally ad-justedandsmooth-ed se-ries 2
ally ad-justedseries Season-
ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
2001 Dec. --8.6 --12 --13.6 --15 --9.3 --18 --28.8 --30 --30.9 --37 15.5 12 --14.4 --16 --10.4 --12 --16.6 --19 --6.3 --9 --6.9 --9
2002 Jan. --7.4 --10 --12.8 --14 --7.1 --11 --28.5 --30 --30.4 --38 13.4 13 --13 --12 --8 --7 --15.4 --17 --6.5 --6 --4.3 --8
Feb. --5.1 --3 --11.6 --11 --3.5 --6 --27.8 --28 --28.6 --31 11.3 15 --11.4 --11 --4.3 --8 --13.4 --14 --6 --10 --0.5 0
March --2.6 --5 --10.4 --10 0.6 0 --26.6 --25 --26.1 --22 9.5 9 --10.1 --10 --0.8 2 --11.1 --10 --4.6 1 3.6 6
April --0.4 1 --9.5 --9 4.4 7 --25.4 --27 --23.4 --26 7.9 7 --9.4 --9 2.1 4 --9.1 --8 --2.6 --8 6.9 8
May 1.6 8 --9.1 3 7.4 18 --24.3 --18 --21.3 --16 6.4 7 --8.8 --8 3.3 7 --7.9 --2 --0.6 --2 8.4 10
June 2.6 4 --9 --9 8 9 --23.6 --23 --20.6 --20 5.4 5 --8.4 --8 2.4 8 --7.5 --5 0.6 4 7.9 13
July 2.9 --2 --8.8 --9 6.1 9 --23.5 --24 --21.1 --20 4.6 2 --8.5 --11 0.6 0 --7.7 --7 0.8 1 5.9 9
Aug. 2.8 4 --8.3 --7 3.4 3 --23.6 --22 --21.9 --23 4.4 3 --9.1 --7 --1.6 --6 --8.2 --8 0.3 1 3.6 1
Sep. 1.8 --3 --8.1 --13 0.1 --2 --24 --24 --22.8 --23 4.8 4 --10.1 --8 --3.3 --1 --8.8 --10 --0.5 --1 1.4 --1
Oct. 0.5 2 --8 --3 --2.9 --6 --24.5 --25 --23.4 --26 5.6 6 --11.5 --13 --4.3 --7 --9.6 --10 --1.6 --3 0.3 --3
Nov. --0.5 2 --8.1 --5 --5 --2 --25.4 --22 --23.6 --23 6.9 6 --12.6 --11 --4.8 --5 --10.4 --9 --2.6 --4 0.4 0
Dec. --2 --2 --8.9 --12 --7.5 --10 --26.8 --29 --24.6 --24 8 9 --13.5 --14 --4.8 --3 --11.6 --13 --3 --1 0.6 3
2003 Jan. --3.5 --6 --9.3 --10 --10 --20 --28.5 --30 --26.3 --30 9 10 --14.6 --14 --5.9 --4 --13.2 --15 --2.6 --4 0.9 1
Feb. --4.9 --2 --9.9 --7 --12 0 --30.4 --26 --28.3 --20 9.6 9 --15.9 --15 --8.1 --5 --15.1 --10 --1.8 --4 --0.1 5
March --6.9 --9 --10.8 --10 --13.5 --14 --31.9 --34 --31 --30 9.9 10 --17.1 --19 --10.4 --13 --16.8 --17 --0.8 2 --2.6 1
April --8.6 --16 --11.3 --15 --14 --18 --32.9 --33 --33.3 --34 10 10 --18.3 --24 --12.6 --14 --18.1 --20 --1.1 0 --5.4 --8
May --9.3 --6 --11.6 --12 --13.6 --14 --33.8 --33 --35 --36 9.9 9 --18.9 --18 --13.9 --18 --18.7 --18 --3.3 0 --8.1 --10
June --8.9 --16 --11.3 --26 --12.1 --36 --34.8 --43 --36.5 --44 9.5 11 --19 --19 --13.5 --17 --18.3 --26 --5.8 --8 --9.8 --10
July --7.6 --11 --10.3 --8 --9.5 --11 --35 --37 --36.3 --44 8.5 11 --18.9 --18 --11.6 --14 --17.2 --19 --8.3 --15 --9.3 --14
Aug. --5.6 0 --9.3 --8 --6 --5 --34.3 --32 --34.6 --30 6.8 8 --18.6 --21 --8.6 --10 --15.5 --14 --9 --10 --7.8 --11
Sep. --6 --11 --2 --37 --38 --1 --20 --3 --14 --11 --4
Oct. --4 --5 5 --29 --29 4 --18 --1 --11 --4 --4
Nov. --2 --9 2 --28 --22 2 --12 3 --9 --1 1
Dec. 2 --4 2 --25 --24 2 --10 6 --7 0 0
1 The price indicators are not taken into consideration for the calculation of the synthetic curve, because they do not display any cycli-cal pattern. Since they nevertheless provide rapid and reliable information, they are shown for the record.
2 The smoothed series are based on the seasonally adjusted series.
14S
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2.1.5 NUMERICAL VALUE OF REGIONAL SYNTHETIC CURVES AND THEIR COMPONENTS2.1.5.1 FLEMISH REGION
(balances, seasonally adjusted and smoothed)
Trend Appraisal Forecasts Synthetic curve p.m. Selling prices 1
Production rate Domestic orders Export orders Total order book Export order book Stocks of finishedproducts
Employment Demand Season-ally ad-justed
Season-ally ad-justed
Trend Forecast
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
ally ad-justedandsmooth-ed se-ries 2
ally ad-justedseries Season-
ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
2001 Dec. --11.9 --17 --23.5 --23 --14.6 --28 --37 --37 --35.5 --39 19.4 18 --19 --21 --14.8 --21 --22.6 --25 --10.6 --14 --6.6 --14
2002 Jan. --9.3 --13 --23.1 --35 --9.1 --13 --36.8 --39 --34.8 --38 17.6 19 --17.9 --18 --12.8 --13 --20.5 --23 --9.8 --9 --4 --4
Feb. --6.3 --6 --21.8 --24 --3.4 5 --35.3 --39 --32.5 --35 15.4 18 --16.1 --16 --10.4 --11 --17.6 --18 --7.8 --13 --0.9 0
March --3.1 --3 --18.6 2 2.1 5 --33.4 --30 --29.6 --24 12.3 11 --14.1 --15 --7.8 --9 --14.4 --11 --5 --3 1.9 3
April --0.9 4 --15.6 --20 5.6 1 --31.6 --33 --26.9 --30 8.3 10 --12.5 --11 --5.5 --3 --11.7 --13 --2.4 --2 3.6 4
May 0.5 1 --13.1 --7 6.9 19 --30.4 --30 --24.8 --19 5.1 1 --11.1 --10 --4 0 --10.2 --6 --0.9 0 4.5 5
June 1 4 --11.5 --16 6.8 15 --30 --30 --24.6 --24 3.4 2 --10.4 --11 --4.8 0 --9.8 --8 --0.3 6 4.3 11
July 1 --2 --11.3 --5 4.8 8 --30 --31 --25.9 --24 3.8 --2 --10.1 --10 --7.4 --14 --10.1 --9 --0.1 5 3 10
Aug. 1 --1 --10.6 --16 1.6 1 --29.8 --28 --27.3 --29 5.9 5 --10 --9 --10 --17 --10.8 --13 --0.4 0 1.5 --1
Sep. 1 1 --11 1 --1.6 --5 --29.4 --30 --28.8 --30 8.1 12 --10.1 --8 --12 --5 --12 --11 --0.8 --1 0.1 --2
Oct. 0.3 1 --12.5 --23 --4.8 --5 --29 --30 --29.6 --29 10 10 --11.1 --10 --12.5 --13 --13.3 --15 --1.3 --2 --0.3 0
Nov. --1.6 4 --14.3 --1 --7.5 --4 --28.5 --26 --29.9 --30 11 11 --12.9 --11 --11.9 --14 --14.5 --12 --1.5 --6 0.4 --2
Dec. --5.3 --8 --16.4 --13 --9.9 --14 --28.4 --28 --30 --30 11.5 12 --14.9 --21 --11.3 --11 --15.6 --17 --1.4 1 1.1 3
2003 Jan. --10.3 --23 --18.6 --27 --12.1 --29 --28.6 --29 --30 --30 12 11 --16.8 --17 --11.1 --3 --16.4 --21 --1.1 --3 1.5 2
Feb. --14 --5 --19.4 --22 --13.6 --11 --29.1 --27 --30.1 --25 12.6 13 --17.4 --19 --11.4 --7 --16.6 --16 --0.9 --1 1 13
March --16.1 --19 --19.8 --1 --14 --14 --30 --30 --30.5 --27 13.4 13 --17.1 --16 --11.9 --12 --17.2 --16 --1 0 --0.4 --2
April --15.4 --20 --20.1 --22 --14 --14 --30.9 --32 --31.1 --32 14 14 --16.6 --20 --12.6 --12 --18.2 --21 --1.8 3 --2.1 0
May --11.4 2 --19.4 --5 --13.5 --4 --31.6 --31 --32.4 --31 14.5 19 --16.1 --16 --13.3 --14 --18.5 --15 --3.4 --3 --4.3 --5
June --7.1 --15 --19 --19 --12.5 --26 --32.3 --39 --34 --38 14.8 20 --15.9 --13 --12.9 --14 --18.2 --23 --5.6 --4 --6.5 --5
July --3.1 --6 --19 --23 --11.4 --27 --32.3 --33 --34.9 --45 14.4 15 --15.6 --16 --11.4 --16 --17.4 --23 --7.6 --12 --8.1 --10
Aug. 0.1 3 --18 --19 --9 --10 --30.9 --30 --33.6 --33 13.6 14 --15.4 --17 --9.5 --2 --15.5 --15 --9.3 --10 --9.4 --10
Sep. 0 --11 --9 --35 --37 9 --15 --7 --15 --12 --10
Oct. 2 --7 17 --15 --19 12 --15 --6 --7 --6 --6
Nov. 4 --19 0 --22 --22 12 --8 --8 --11 --8 --8
Dec. 11 5 3 --23 --22 13 --11 5 --6 --12 --10
1 The price indicators are not taken into consideration for the calculation of the synthetic curve, because they do not display any cycli-cal pattern. Since they nevertheless provide rapid and reliable information, they are shown for the record.
2 The smoothed series are based on the seasonally adjusted series.
15S
tatisticalbulletinofthe
NationalB
ankofB
elgium(2003--IV
)
2.1.5.2 WALLOON REGION
(balances, seasonally adjusted and smoothed)
Trend Appraisal Forecasts Synthetic curve p.m. Selling prices 1
Production rate Domestic orders Export orders Total order book Export order book Stocks of finishedproducts
Employment Demand Season-ally ad-justed
Season-ally ad-justed
Trend Forecast
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
ally ad-justedandsmooth-ed se-ries 2
ally ad-justedseries Season-
ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
Season-ally ad-justedandsmooth-ed se-ries 2
Season-ally ad-justedseries
2001 Dec. --9 --18 --19.3 --7 --7.6 --40 --28.5 --36 --29.9 --38 22.1 9 --13 --17 --2.1 --2 --17.7 --21 --2 --13 --5.6 --9
2002 Jan. --8.3 --17 --14.8 --33 --7.6 --13 --28.3 --30 --30.1 --32 19 13 --13 --13 --1.9 --1 --16.3 --19 --5 1 --4.1 --12
Feb. --7 --7 --9.3 1 --7.1 --4 --27.9 --28 --29.5 --26 18 18 --13.3 --15 --1.3 --3 --14.6 --12 --8 --13 --0.9 --2
March --7 --4 --3.1 --23 --6.9 --8 --26.8 --28 --28.3 --29 17.6 21 --14.8 --13 --0.4 5 --13.2 --15 --9.4 7 3.4 0
April --7.4 --7 1.9 12 --6.1 --8 --24.8 --27 --26.3 --32 16.6 18 --17.3 --5 0.3 1 --11.9 --10 --8.5 --13 7.3 18
May --8.1 15 2.3 6 --4.9 19 --22.8 --17 --24.1 --23 15 13 --19.8 --27 0.4 --2 --10.7 --5 --6.4 --14 10.4 12
June --9.6 --18 --0.3 --10 --4 --5 --21.3 --18 --22.8 --22 11.8 10 --22 --23 --0.3 8 --10.3 --12 --3.6 2 10.5 21
July --11.1 --16 --3.4 16 --3.5 16 --21.1 --20 --22.1 --12 7.6 15 --23.1 --24 --2.3 --12 --10.4 --8 --2.8 2 7.8 11
Aug. --11.5 --10 --7.3 --9 --3.5 --9 --21.9 --23 --22 --22 4.1 0 --24.1 --3 --4.4 3 --10.9 --9 --2.6 --7 4.8 2
Sep. --10.3 --10 --10.9 --25 --5.1 --1 --22.9 --25 --22.3 --24 1.5 --1 --25.9 --13 --5.3 --3 --12.1 --12 --2 --2 1.8 0
Oct. --6.9 --17 --14.1 --6 --6.9 --10 --24 --23 --22.5 --30 0.8 --1 --27.8 --30 --5.6 --13 --13.4 --16 --2 --2 --0.1 --6
Nov. --3.4 1 --17.4 --10 --8.6 4 --25.6 --20 --22.5 --18 2.1 2 --30 --35 --4.9 --11 --14.3 --11 --2 --6 --0.4 --8
Dec. --0.8 1 --20.5 --35 --10.1 --10 --28.4 --36 --23.1 --22 4.4 2 --31.8 --31 --4 --4 --15.4 --17 --1.5 2 --0.1 1
2003 Jan. 0 0 --22 --22 --11.3 --16 --31.4 --32 --24.1 --27 6.6 12 --33 --16 --6.4 0 --16.7 --16 --0.3 --2 0 --1
Feb. --2.3 1 --22.3 --24 --13.5 3 --35 --27 --27 --5 8.6 9 --34.8 --36 --11.8 --3 --19.4 --12 1.3 --2 --1 3
March --6.4 --4 --22.4 --18 --16.5 --12 --39.5 --36 --33.4 --27 9.3 12 --36.4 --34 --17.8 --23 --23.5 --21 2.8 14 --3.5 11
April --11.6 --35 --23 --21 --19.8 --22 --43.5 --45 --40.5 --42 8.8 7 --37.6 --43 --23.8 --40 --27.3 --32 2.6 4 --6.8 --11
May --16.3 --13 --24.9 --28 --22.8 --26 --47.3 --61 --47 --54 7.9 11 --38.3 --40 --25.6 --31 --29.9 --33 0.4 9 --10 --13
June --18.6 --23 --26.9 --42 --22.6 --45 --49.9 --63 --49.9 --53 6.6 7 --37.4 --39 --22.4 --28 --29.6 --37 --2.4 --20 --11.5 --9
July --18.9 --18 --28 --16 --19.5 0 --50.5 --50 --47.8 --57 5.3 1 --35.6 --31 --17.9 --14 --27.4 --23 --5 --5 --10.9 --24
Aug. --16.9 --23 --27.6 --31 --15.5 --27 --50.4 --49 --44.1 --39 3.8 6 --33.9 --32 --11.5 --9 --24.7 --27 --6.4 --11 --8.9 --20
Sep. --15 --31 3 --52 --38 4 --36 --11 --23 --7 0
Oct. --10 --17 --11 --50 --39 1 --29 4 --19 --6 --6
Nov. --6 --23 --8 --49 --28 1 --32 8 --17 1 --2
Dec. 3 --17 12 --35 --20 --2 --25 6 --9 19 1
1 The price indicators are not taken into consideration for the calculation of the synthetic curve, because they do not display any cycli-cal pattern. Since they nevertheless provide rapid and reliable information, they are shown for the record.
2 The smoothed series are based on the seasonally adjusted series.
16S
tatisticalbulletinofthe
NationalB
ankofB
elgium(2003--IV
)
2.1.6 NUMERICAL VALUE OF NATIONAL SYNTHETIC CURVES AND THEIR COMPONENTS: TRADE
(balances, seasonally adjusted and smoothed)
Trend Appraisal Forecasts Synthetic curve p.m. Selling prices 1
Sales Sales Stocks Orders to Belgian sup-pliers
Orders to foreign sup-pliers
Demand Seasonal-ly adjustedand
Seasonal-ly adjustedseries
Trend Forecast
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
ly adjustedandsmoothedseries 2
ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
2001 Dec. --4 --4 --5.3 --4 +12.8 +8 --11.9 --12 --11.1 --14 --3.8 --8 --8.3 --8 --8.5 --11 +2 +6
2002 Jan. --3.9 --3 --5.8 --7 +11.8 +10 --10.9 --3 --9 --2 --1.8 +11 --7.1 --2 --10.1 --10 +1.5 --2
Feb. --2.9 --12 --5.8 --20 +10.9 +14 --10.1 --13 --6.8 --8 +0.6 +1 --5.3 --11 --10.8 --12 +1.6 +2
March --1.1 +3 --4.8 --3 +10.4 +11 --9.1 --9 --4.8 --7 +2.8 --3 --3.4 --5 --11.1 --15 +2.1 --6
April +1 --6 --2.9 --9 +10 +10 --8.3 +2 --2.9 +9 +4.3 +6 --1.9 --1 --10.8 --4 +2.6 +10
May +4 +6 --0.5 +2 +8.8 +8 --8 --9 --1.5 --4 +4.6 +5 --0.9 --1 --9.9 --7 +2.9 +3
June +6.8 +11 +1.9 +1 +6.6 +11 --8.1 --7 --0.5 +0 +4.5 +4 --0.3 +0 --7.9 --12 +3.3 +5
July +9.4 --1 +3.8 +3 +4.4 +2 --8.6 --7 +0 +3 +4.4 +9 +0.3 +1 --4.5 --13 +4 +3
Aug. +12.3 +16 +5.1 +6 +2.4 +1 --9.5 --10 --0.3 +0 +4 +4 +0.8 +3 --1.6 +1 +5 --1
Sep. +13.5 +20 +6.3 +12 +1.6 +1 --10.3 --12 --0.9 --2 +3.6 --10 +0.9 +1 +0.6 +2 +6 +8
Oct. +13.5 +11 +6.9 +7 +1.9 +7 --10.6 --11 --1.9 +2 +3.4 --1 +0.7 +0 +2.1 +6 +6.8 +7
Nov. +12.1 +21 +6.1 +18 +2.3 +0 --11.1 --10 --3.1 --3 +3.1 +6 --0.2 +5 +2.5 +4 +6.9 +7
Dec. +8 --6 +3.9 --4 +3 +6 --12.1 --13 --5.6 --5 +0.6 +3 --1.9 --5 +2.5 +2 +5.6 +6
2003 Jan. +4.3 +5 +0.9 +7 +3.8 +3 --13.4 --8 --9.3 --5 --4.1 +3 --4.1 +0 +2.1 --1 +3.4 +7
Feb. +2.3 +20 --2.5 +0 +4.9 +1 --14.6 --16 --12.5 --18 --8.9 --21 --6.8 --6 +0.5 +4 +1 --2
March +1 --33 --5.1 --29 +6.9 +5 --15.6 --19 --15.4 --21 --13.6 --16 --9 --20 --1.9 +2 --1.4 --3
April +2.3 --10 --6.3 --7 +9.4 +10 --15.9 --17 --16.6 --17 --16 --23 --10.3 --14 --4.3 --8 --2.6 --7
May +4.1 +3 --6.5 --6 +12.3 +12 --15.6 --16 --16.3 --16 --15.8 --13 --10.9 --10 --6.3 --7 --2.9 +0
June +4.9 +6 --6.8 --12 +15.1 +16 --15.4 --15 --15.6 --16 --15.3 --16 --11 --11 --7 --6 --3 --8
July +4 +7 --6.8 --4 +17.6 +17 --15.1 --15 --14.9 --14 --14.1 --14 --10.9 --9 --6.8 --8 --2.5 --3
Aug. +1.1 +7 --6.9 --1 +19.4 +24 --15 --13 --13.8 --15 --12.3 --17 --10.9 --10 --6.1 --12 --1.4 --3
Sep. --12 --9 +23 --18 --10 --9 --13 --5 +3
Oct. --8 --10 +21 --15 --8 --8 --12 --2 +2
Nov. --7 --5 +20 --16 --13 --5 --11 --3 +1
Dec. --2 --12 +16 --13 --6 --6 --9 --5 +5
1 The price indicators are not taken into consideration for the calculation of the synthetic curve, because they do not display any cycli-cal pattern. Since they nevertheless provide rapid and reliable information, they are shown for the record.
2 The smoothed series are based on the seasonally adjusted series.
17S
tatisticalbulletinofthe
NationalB
ankofB
elgium(2003--IV
)
2.1.7 NUMERICAL VALUE OF NATIONAL SYNTHETIC CURVES AND THEIR COMPONENTS - BUILDING INDUSTRY: STRUCTURAL BUILDINGWORK
(balances, seasonally adjusted and smoothed)
Trend Assessment of orderbook
Forecasts Synthetic curve p.m. Selling prices 1
Activity Order book Employment Equipment Season-ally ad-
Season-ally ad-
Employment Demand Season-ally ad-
Season-ally ad-
Trend Forecast
Season-ally ad-justedandsmoothedseries 2
Season-ally ad-justed se-ries
Season-ally ad-justedandsmoothedseries 2
Season-ally ad-justed se-ries
Season-ally ad-justedandsmoothedseries 2
Season-ally ad-justed se-ries
Season-ally ad-justedandsmoothedseries 2
Season-ally ad-justed se-ries
Season-ally ad-justedandsmoothedseries 2
Season-ally ad-justed se-ries
Season-ally ad-justedandsmoothedseries 2
Season-ally ad-justed se-ries
Season-ally ad-justedandsmoothedseries 2
Season-ally ad-justed se-ries
Season-ally ad-justedandsmoothedseries 2
Season-ally ad-justed se-ries
Season-ally ad-justedandsmoothedseries 2
Season-ally ad-justed se-ries
Season-ally ad-justedandsmoothedseries 2
Season-ally ad-justed se-ries
2001 Dec. --4.1 --4 --3.9 +2 --4 --6 +3.4 +2 --21.1 --22 --1.4 --2 --0.5 +4 --4.3 --4 --6.1 --5 --3.3 +0
2002 Jan. --5.1 --7 --5.9 +2 --4 --4 +2.5 +1 --21.9 --23 --2.4 +1 --0.1 --1 --4.8 --4 --6.9 --6 --2.9 --4
Feb. --6.1 --3 --8.1 --11 --4.5 +1 +1.3 +6 --22.6 --21 --3.3 --4 +0.3 +1 --5.7 --4 --7.5 --8 --2.1 +0
March --8 --17 --9.8 --9 --6 --1 +0 +0 --23.4 --23 --3.8 --4 +0.6 +0 --6.9 --8 --7.9 --9 --1.9 --5
April --9.5 --9 --10.6 --17 --8 --18 --0.9 --3 --24.4 --24 --4.6 +0 +0.9 +5 --8.1 --9 --8.3 --7 --2.5 --1
May --9.5 --2 --10.9 --12 --10 --12 --1.5 --2 --25.6 --25 --6 --6 +1.1 +0 --9 --8 --8.8 --8 --3.5 +1
June --8.8 --14 --10.3 --10 --11.4 --8 --1.9 --1 --26.8 --28 --7.5 --14 +1.3 +1 --9.5 --11 --9.4 --9 --4.6 --5
July --7 --15 --9.4 --2 --11.6 --12 --2 --2 --27.6 --28 --8.4 --10 +1.4 +3 --9.7 --9 --10 --10 --5.4 --5
Aug. --4.8 --5 --8.4 --15 --10.9 --11 --2.1 --9 --27.6 --31 --8.4 --7 +1.5 +2 --9.2 --11 --10.5 --11 --5.6 --6
Sep. --3.3 +0 --6.6 --7 --9.6 --16 --2.4 --2 --26.9 --32 --7.3 --11 +1.4 --1 --8.2 --10 --10.9 --12 --5.9 --11
Oct. --2.3 --1 --4.6 +3 --8.3 --7 --2.6 +0 --26.1 --25 --5.3 --6 +1.3 +0 --7 --5 --11 --14 --6 --12
Nov. --1.4 --4 --3 --7 --6.6 +0 --3 --5 --25.4 --25 --3.6 --2 +1.1 +4 --5.9 --6 --10.9 --7 --5.8 --2
Dec. --0.9 +0 --1.4 +0 --5.4 --5 --3.3 --3 --25 --21 --2.5 --2 +0.6 +7 --5.1 --3 --10.8 --10 --5.5 --6
2003 Jan. --0.6 --9 --0.5 --1 --4.1 --10 --3.1 --9 --25.1 --24 --2 --2 +0.1 --3 --4.7 --8 --11 --11 --5.5 --4
Feb. --0.4 +1 --0.8 +3 --2.6 --4 --2.5 --2 --25.5 --25 --1.9 --2 --0.3 +1 --4.4 --4 --11.5 --13 --5.8 --6
March --0.3 --1 --1.3 --3 --1.5 +0 --1.4 --4 --26 --26 --1.6 +0 --1 --1 --4.3 --5 --12.3 --8 --6.5 --3
April --0.8 +9 --2.1 +0 --1 +1 --0.3 +1 --26.5 --27 --1.4 --9 --1.8 --3 --4.3 --4 --13.1 --16 --7.3 --15
May --1.8 +0 --3.3 --2 --1.5 +3 +0.4 +1 --26.5 --29 --1.1 --1 --1.9 +0 --4.4 --4 --13.5 --15 --7.6 --8
June --2.8 --6 --4.1 --8 --2.5 --11 +0.3 +1 --25.6 --27 --1 --1 --0.6 --6 --4.5 --8 --12.9 --13 --7.3 --10
July --3.3 --4 --3.5 --5 --3.4 --4 --0.3 --2 --24.1 --24 --0.9 --7 +1.9 --5 --4.1 --7 --11.3 --14 --6.3 --7
Aug. --2.9 --7 --1.3 --5 --3.4 --7 --0.8 --3 --22.3 --22 --0.5 +5 +4.6 +8 --3.2 --4 --9.3 --6 --5.1 --4
Sep. --1 +5 --3 --1 --19 +1 +13 --1 --6 +2
Oct. +0 +5 --1 +0 --20 --1 +8 --1 --8 --4
Nov. +1 +5 +0 +0 --17 +0 +7 --1 --5 --3
Dec. --4 --1 +2 --2 --15 +4 +5 --2 --8 --2
1 The price indicators are not taken into consideration for the calculation of the synthetic curve, because they do not display any cycli-cal pattern. Since they nevertheless provide rapid and reliable information, they are shown for the record.
2 The smoothed series are based on the seasonally adjusted series.
18S
tatisticalbulletinofthe
NationalB
ankofB
elgium(2003--IV
)
2.1.8 NUMERICAL VALUE OF SYNTHETIC CURVES: BUSINESS-RELATED SERVICES
(balances, seasonally adjusted and smoothed)
Business-related services
Trend Appraisal Forecasts Synthetic curve p.m. Selling prices 1
Activity / sales Employment Activity Activity Employment General demand Seasonal-ly adjusted
Seasonal-ly adjusted
Trend Forecasts
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries Seasonal-
ly adjustedandsmootnedseries 2
Seasonal-ly adjustedseries
Seasonal-ly adjustedandsmoothedseries 2
Seasonal-ly adjustedseries
2001 Dec. --3.4 --6.4 --2.9 --4 --18.4 --21.8 8.8 6.5 2.4 --0.3 --5.7 --9 --3 --5.8 --2 --3.2 --0.6 --0.7
2002 Jan. --2.5 --3.8 --4.1 --4.7 --18.5 --17.6 11.5 11 2.7 2 --2 --3 --1.7 --2.7 --2.3 --3.7 0 --0.9
Feb. --0.6 3.7 --4.3 --1.2 --18.6 --13.9 14.3 16.1 3.2 4.5 1.8 5.5 --0.2 2.4 --1.9 --0.5 0.6 1.2
March 0.5 --3.1 --4.5 --6.6 --18.9 --19.2 16.7 19.1 3.6 4 4.9 7.6 1 0.3 --1.5 --2.7 1.2 3.5
April 1.2 5 --4.6 --4.6 --19.2 --20.7 17.7 22.3 3.5 3.9 5.8 10.5 1.3 2.7 --1.1 --0.6 1.6 2.2
May 1.2 8.4 --4.6 --3.6 --19.6 --16.1 17.5 18 3.2 3 4.9 6.2 0.6 2.6 --1 0.4 1.6 1.5
June --0.2 --1.7 --5 --4.4 --20.1 --20.2 16.6 17.7 2.7 2.7 3.4 3.6 --0.6 --0.4 --1.3 --1.3 1.3 0.1
July --0.5 --6.6 --5.5 --6.8 --20.3 --20.5 15.6 12.5 2.1 0.9 1.6 0.9 --1.4 --3.2 --1.6 --1.8 0.8 2.2
Aug. --0.1 1.6 --5.9 --6.6 --20.4 --17.7 14.7 10.5 1.6 --0.4 0.2 --0.9 --1.9 --2.2 --1.9 --3.7 0.2 0.6
Sep. --0.1 --6.7 --5.9 --5.3 --20.7 --24.8 14.3 14.5 1.2 3.5 --0.5 --0.9 --2.1 --3.3 --2.2 0.5 --0.2 --1
Oct. 0.3 4.6 --5.5 --7.7 --21 --20.7 14.3 14.1 1 --1.2 --0.7 --0.7 --2 --1.9 --2.6 --2.6 --0.5 --3.6
Nov. 0.2 6.4 --4.9 --1.7 --21.3 --17.4 14.3 14.3 1.1 1.1 --0.8 --0.3 --2.1 0.4 --2.9 --2.6 --0.6 --0.4
Dec. --0.8 --1.9 --4.4 --4.6 --21.8 --21.8 14.1 16.9 0.8 2.5 --1.5 5.1 --2.4 --0.6 --3.2 --3.8 --0.7 0.5
2003 Jan. --1.5 --8.6 --4.1 --3.6 --22.4 --24.5 12.8 15.6 0.3 --1.1 --2.8 --1.1 --2.9 --3.9 --3.4 --3.5 --0.9 --1.3
Feb. --2.2 1.2 --4 --5.4 --22.8 --21.6 11 12 --0.5 2.3 --4.6 --6 --3.8 --2.9 --3.5 --3.5 --1.2 1.4
March --2.9 --8.1 --3.9 --3.7 --23.2 --23.4 8.8 2.2 --1.4 --4.5 --6.9 --13.9 --4.9 --8.5 --3.5 --3.5 --1.8 --1.9
April --3.2 --3 --3.9 --4.1 --23.3 --25.4 7 --0.4 --2.1 --3 --8.6 --14.1 --5.7 --8.4 --3.4 --3.7 --2.5 --2.2
May --3.2 --1.6 --3.7 --3.7 --23 --20.2 6.7 7 --2.2 1.1 --8.6 --0.5 --5.9 --3 --3.3 --3 --3 --3.8
June --3.4 --6 --3.5 --4.6 --22.4 --28.2 7.8 10 --1.9 --2.6 --7 --10 --5.2 --6.9 --3.2 --3.4 --3.3 --3.5
July --3.4 --3.6 --3.2 --2.9 --21.8 --22.9 10.3 4.4 --0.5 --3.2 --4 --10.4 --3.7 --6.5 --3 --3 --3.1 --4.9
Aug. --3.3 --2.9 --2.8 0.6 --21.1 --21 14.2 12.4 1.8 --0.4 0.3 --1.7 --1.5 --2.2 --2.7 --2 --2.4 --3.2
Sep. --4.2 --0.7 --21 19.5 5.8 5.6 0.8 --4 --1.1
Oct. 4.3 --3 --17.5 25.1 7.2 7.8 4 --2.4 0
Nov. 2.4 --3.3 --18.5 24.7 8.7 10.5 4.1 --1.3 4.7
Dec. --2.9 --1.2 --19.5 22.8 7.1 14.8 3.5 --0.2 0.1
1 The price indicators are not taken into consideration for the calculation of the synthetic curve, because they do not display any cycli-cal pattern. Since they nevertheless provide rapid and reliable information, they are shown for the record.
2 The smoothed series are based on the seasonally adjusted series.
19Statistical bulletin of the National Bank of Belgium (2003--IV)
2.1.9 SYNTHETIC CURVES BY BRANCHES2.1.9.1 SYNTHETIC CURVES BY INDUSTRIAL BRANCHES
(balances, seasonally adjusted and smoothed)
2002 2003
Dec. Jan. Feb. March April May June July Aug. Sep. Oct. Nov. Dec.
Textile industrySeasonally adjusted and smoothed series 1 --23.8 --24.8 --26.1 --27.4 --28.5 --29.0 --28.9 --28.1 --27.0
Seasonally adjusted series --25.1 --27.5 --19.5 --26.1 --30.6 --28.4 --30.0 --29.9 --26.4 --25.3 --25.5 --17.3 --10.8
Food industrySeasonally adjusted and smoothed series 1 0.6 0.7 0.7 0.1 --0.5 --1.4 --2.6 --3.1 --3.4
Seasonally adjusted series --1.4 4.5 --0.5 1.9 --2.0 4.5 --14.9 --4.0 0.0 --7.4 --1.5 --3.0 --3.1
Iron and steel industrySeasonally adjusted and smoothed series 1 --29.7 --30.7 --33.2 --38.6 --44.4 --49.8 --51.7 --50.0 --45.6
Seasonally adjusted series --35.3 --33.0 --11.5 --23.3 --50.3 --55.9 --63.5 --44.4 --54.6 --42.3 --26.4 --27.3 --20.8
Non ferrous industrySeasonally adjusted and smoothed series 1 --13.5 --21.0 --29.2 --36.4 --40.0 --42.1 --43.2 --41.2 --36.7
Seasonally adjusted series --35.1 --23.1 --6.1 --52.0 --43.4 --33.8 --51.0 --42.8 --51.9 --28.5 --21.6 --19.4 --22.3
Metal and electrotechnical industrySeasonally adjusted and smoothed series 1 --13.4 --15.0 --16.5 --17.5 --18.1 --18.4 --18.5 --18.4 --17.8
Seasonally adjusted series --13.5 --20.0 --15.4 --16.4 --18.3 --18.5 --23.6 --22.0 --17.6 --18.6 --14.5 --11.0 --8.1
Paper and paperboard industrySeasonally adjusted and smoothed series 1 --14.5 --15.1 --16.2 --17.7 --19.6 --21.1 --22.1 --21.0 --17.6
Seasonally adjusted series --10.9 --11.4 --15.4 --18.3 --18.6 --22.6 --31.3 --23.8 --10.3 --22.4 --7.8 --6.4 --7.3
Graphics industrySeasonally adjusted and smoothed series 1 --23.8 --22.9 --22.1 --21.6 --21.5 --21.2 --21.8 --22.8 --22.5
Seasonally adjusted series --23.1 --20.1 --27.7 --18.1 --21.9 --12.9 --32.0 --28.7 --18.1 --17.1 --29.0 --23.0 --10.7
Wood-processing industrySeasonally adjusted and smoothed series 1 --22.7 --23.6 --25.3 --27.2 --29.1 --29.6 --28.9 --27.8 --25.9
Seasonally adjusted series --23.8 --31.6 --14.3 --21.0 --31.9 --29.8 --35.8 --25.3 --28.0 --25.8 --18.5 --15.9 --19.0
Production of building materialsSeasonally adjusted and smoothed series 1 --15.5 --16.1 --17.1 --18.4 --18.5 --16.7 --13.5 --9.7 --6.9
Seasonally adjusted series --16.0 --18.3 --14.4 --22.5 --12.3 --20.8 --21.8 --1.5 --7.5 --5.6 10.1 --8.0 3.9
Plastic and rubber industrySeasonally adjusted and smoothed series 1 --8.2 --9.7 --10.1 --10.7 --11.7 --12.8 --13.8 --13.4 --11.5
Seasonally adjusted series --13.4 --7.1 --10.1 --3.3 --10.3 --19.9 --19.5 --14.3 --3.4 --14.3 --6.8 --0.3 --7.3
Chemical industrySeasonally adjusted and smoothed series 1 --5.7 --6.4 --8.8 --12.4 --15.2 --16.3 --14.2 --9.6 --5.3
Seasonally adjusted series --5.4 --6.1 --1.3 --21.5 --19.5 --11.4 --22.4 --14.9 0.4 0.1 --2.5 2.1 --5.9
Total of all industriesSeasonally adjusted and smoothed se-ries 1 --11.6 --13.2 --15.1 --16.8 --18.1 --18.7 --18.3 --17.2 --15.5Seasonally adjusted series --12.9 --15.5 --10.5 --17.4 --20.5 --18.3 --26.5 --19.3 --14.3 --14.5 --10.6 --8.8 --6.9
of which:Production of consumer goods
Seasonally adjusted and smoothed se-ries 1 --12.7 --13.2 --13.3 --13.5 --13.7 --13.6 --13.1 --12.4 --11.3
Seasonally adjusted series --13.1 --13.4 --13.6 --12.4 --14.1 --9.6 --20.1 --15.0 --10.5 --11.5 --8.9 --7.0 --5.1
Production of capital goodsSeasonally adjusted and smoothed se-ries 1 --7.4 --9.5 --11.7 --14.2 --16.0 --16.7 --17.1 --16.8 --15.3
Seasonally adjusted series --6.4 --16.0 --6.4 --14.6 --17.9 --15.0 --20.5 --19.5 --13.1 --16.8 --11.0 --3.6 --5.4
Production of intermediate goodsSeasonally adjusted and smoothed se-ries 1 --13.4 --15.6 --18.4 --21.0 --22.7 --23.6 --23.2 --21.7 --19.5
Seasonally adjusted series --15.5 --18.6 --10.6 --21.5 --25.9 --24.0 --31.8 --23.0 --19.4 --17.0 --11.1 --13.4 --9.5
1 The smoothed series are based on the seasonally adjusted series.
20 Statistical bulletin of the National Bank of Belgium (2003--IV)
2.1.9.2 SYNTHETIC CURVES BY BRANCHES IN TRADE
(balances, seasonally adjusted and smoothed)
2002 2003
Dec. Jan. Feb. March April May June July Aug. Sep. Oct. Nov. Dec.
Distribution of vehiclesSeasonally adjusted and smoothed series 1 --8.8 --14.0 --18.4 --19.3 --17.5 --15.8 --15.0 --15.0 --15.1
Seasonally adjusted series +0.5 --21.8 --24.2 --24.5 +2.2 --15.2 --10.0 --14.7 --17.8 --18.3 --15.2 --5.3 --5.7
Trade in food and maintenance productsSeasonally adjusted and smoothed series +10.2 +7.7 +5.2 +3.4 +3.2 +3.8 +4.5 +5.3 +5.9
Seasonally adjusted series +6.5 +19.7 +3.2 --0.3 +2.7 +13.2 --5.3 +10.3 +5.0 +6.0 +9.0 --0.8 +12.2
Trade in footwear and slippersSeasonally adjusted and smoothed series 1 --13.5 --14.6 --14.6 --14.3 --12.7 --10.1 --7.6 --5.2 --4.0
Seasonally adjusted series --14.8 --14.0 --18.3 --23.5 --14.2 --13.0 --2.2 --4.2 --4.0 +4.3 --6.3 +1.5 --12.0
Trade in furnitureSeasonally adjusted and smoothed series 1 +0.4 +0.6 +0.9 +1.2 +1.2 --0.1 --2.5 --4.9 --7.4
Seasonally adjusted series +2.2 --5.2 +3.3 --28.2 +1.5 +1.0 +6.0 --8.5 --8.8 --14.5 --6.7 --2.8 --10.2
Trade in textile articlesSeasonally adjusted and smoothed series 1 --9.2 --13.5 --18.2 --23.4 --28.0 --30.4 --31.1 --31.1 --30.7
Seasonally adjusted series --16.5 --9.5 --10.3 --25.8 --36.2 --30.5 --31.8 --31.5 --30.3 --27.5 --40.8 --29.3 --29.5
Trade in electrical and electronic appliancesSeasonally adjusted and smoothed series 1 --9.3 --11.4 --15.5 --19.7 --23.2 --24.6 --23.2 --19.8 --16.4
Seasonally adjusted series --11.3 +5.0 --10.0 --26.7 --29.0 --22.5 --27.2 --22.2 --3.8 --15.8 --11.0 +0.2 --11.3
Total of tradeSeasonally adjusted and smoothed se-ries 1 --1.9 --4.1 --6.8 --9.0 --10.3 --10.9 --11.0 --10.9 --10.9Seasonally adjusted series --5.2 --0.2 --6.0 --20.5 --14.0 --10.0 --11.5 --9.5 --10.5 --13.5 --11.7 --11.0 --9.2
1 The smoothed series are based on the seasonally adjusted series.
2.1.9.3 SYNTHETIC CURVES BY BRANCHES IN BUILDING INDUSTRY
(balances, seasonally adjusted and smoothed)
2002 2003
Dec. Jan. Feb. March April May June July Aug. Sep. Oct. Nov. Dec.
Structural building workSeasonally adjusted and smoothed series 1 --5.1 --4.7 --4.4 --4.3 --4.3 --4.4 --4.5 --4.1 --3.2
Seasonally adjusted series --3.4 --8.3 --4.0 --5.0 --4.0 --4.0 --8.3 --7.3 --4.4 --0.7 --1.3 --0.6 --1.6
of which:Residential buildings
Seasonally adjusted and smoothed se-ries 1 --4.7 --4.4 --4.4 --5.0 --6.2 --7.4 --8.1 --6.9 --4.3
Seasonally adjusted series --4.1 --4.4 --5.0 --4.1 --1.9 --8.9 --9.4 --9.0 --6.0 +2.3 +1.4 +3.6 +0.1
Non-residential buildingsSeasonally adjusted and smoothed series --5.7 --5.6 --5.6 --5.6 --5.7 --5.3 --4.7 --4.3 --3.8
Seasonally adjusted series --3.3 --9.1 --2.1 --5.6 --6.4 --0.6 --6.7 --5.9 --2.3 --2.3 --3.9 --5.3 --4.1
Civil engineering and roadworksSeasonally adjusted and smoothed series 1 --10.2 --10.3 --10.2 --10.0 --9.8 --9.0 --7.8 --6.7 --5.7
Seasonally adjusted series --10.3 --11.0 --8.0 --9.3 --11.6 --10.9 --8.9 --5.9 --5.0 --1.0 --3.0 --7.6 --8.9
1 The smoothed series are based on the seasonally adjusted series.
21Statistical bulletin of the National Bank of Belgium (2003--IV)
2.1.9.4 SYNTHETIC CURVES FOR BUSINESS-RELATED SERVICES
(balances, seasonally adjusted and smoothed)
2002 2003
Dec. Jan. Feb. March April May June July Aug. Sep. Oct. Nov. Dec.
Synthetic curves by branches in business-re-lated services
Transport and auxiliary activitiesSeasonally adjusted and smoothed se-ries 1 1.9 0.7 --0.8 --2.4 --3.2 --3.4 --2.9 --1.4 0.3
Seasonally adjusted series 2.7 --1.5 1.0 --7.8 --8.3 --2.0 --4.3 --3.0 4.3 0.0 4.0 3.2 3.3
Renting without operatorSeasonally adjusted and smoothed se-ries 1 2.3 1.1 --1.3 --3.4 --5.3 --6.1 --5.2 --3.1 --0.3
Seasonally adjusted series 1.0 3.5 1.3 --6.0 --7.5 --6.2 --12.8 0.5 --5.7 9.5 4.0 6.3 8.5
Computer and related activitiesSeasonally adjusted and smoothed se-ries 1 --6.9 --7.6 --8.3 --9.0 --9.3 --9.3 --9.0 --8.1 --6.4
Seasonally adjusted series --5.5 --4.7 --8.8 --13.5 --9.7 --6.2 --10.3 --8.2 --9.2 --4.2 6.2 4.3 --0.7
Other business activitiesSeasonally adjusted and smoothed se-ries 1 --3.3 --3.7 --4.4 --5.3 --5.9 --5.3 --4.2 --2.5 --0.3
Seasonally adjusted series 0.2 --5.7 --2.2 --6.3 --7.7 --1.3 --5.7 --8.2 --1.3 3.3 2.7 4.2 5.5
Total of business-related servicesSeasonally adjusted and smoothed se-ries 1 --2.4 --2.9 --3.8 --4.9
Seasonally adjusted series --0.6 --3.9 --2.9 --8.5 --8.4 --3.0 --6.9 --6.5
1 The smoothed series are based on the seasonally adjusted series.
2.1.10 CONSUMER CONFIDENCE INDICATORS
(balances, seasonally adjusted)
Components Consumer confidenceindicator
Forecasts of generaleconomic situation inBelgium over nexttwelve months
Forecasts unemploy-ment in Belgium overnext twelve months 1
Forecasts financial sit-uation of householdsover next twelvemonths
Forecasts of savingcapacity of householdsover next twelvemonths
Consumer confidenceindicator
2001 December --9 36 3 9 --8
2002 January 1 28 7 14 --1
February 3 23 8 18 1
March 6 23 7 18 2
April 2 22 7 12 0
May 5 22 6 16 1
June 5 24 6 12 0
July 0 32 7 19 --1
August --5 27 5 13 --3
September --4 27 5 12 --3
October --2 27 5 13 --3
November --1 29 4 11 --4
December --8 38 4 10 --8
2003 January --16 40 4 16 --9
February --19 45 1 12 --13
March --28 50 --1 6 --18
April --11 43 3 8 --11
May --4 44 4 6 --9
June --9 44 3 8 --10
July --12 49 2 8 --13
August --10 42 1 9 --11
September --2 36 4 13 --5
October --13 57 3 8 --15
November 0 42 5 11 --6
December 0 39 6 8 --6
N.B.: New composition as from November 2001
1 Remark: an increase of the balances of the indicator with respect to the evolution of unemployment is pointing to an unfavourable development, whereas a decreaseof the balances is pointing to a favourable development.
22 Statistical bulletin of the National Bank of Belgium (2003--IV)
2.2 QUARTERLY SURVEY2.2.1 SEASONALLY ADJUSTED DEGREE OF CAPACITY UTILISATION IN %: BY SECTOR
2001 2002 2003
Oct. Jan. April July Oct. Jan. April July Oct.
Textile industry 76.8 75.8 73.7 74.7 74.9 75.1 73.4 71.6 72.3
Food industry 74.4 72.5 75.6 75.4 74.3 72.3 73 73.5 73.5
Iron and steel industry 82.7 83.8 84.6 87.5 87.5 91.4 87 79.7 84.9
Non ferrous industry 79.8 82 84.1 89.8 77.5 83.9 84.8 85.6 85.8
Metal and electrotechnical industry 82.4 80.5 79.7 80.2 79.9 78.7 79.1 78.4 78.9
Paper and paperboard industry 78.4 77.8 81.2 84.5 85 84 84.3 82 84.4
Graphics industry 84.5 84.2 79.6 79.4 80.2 82.9 82.3 81.6 79.5
Wood-processing industry 83.1 81.6 81.2 80.4 79.7 78.6 76.8 78.2 79
Production of building materials 80.4 83.6 79.9 81.9 81.3 82.4 79.5 77.6 79.1
Plastic and rubber industry 77.3 73.2 79.9 80.9 80.5 77.7 78.4 78.1 77.9
Chemical industry 79.1 78.6 83.6 81.8 82.5 81.1 80.3 78.9 82.1
Total of all industries 80.1 79.1 79.8 80.4 79.9 79.5 78.6 77.7 79
of which:Production of consumer goods 79.8 78.9 78.6 77.7 77.4 75.7 75.7 75.6 76.3
Production of capital goods 82.8 81.7 78.6 80.9 79.8 78.2 78.4 79.8 79.4
Production of intermediate goods 79.9 78.2 81 81.9 81.5 82 80.9 78.8 80.7
N.B.: As percentages of total production capacities.
2.2.2 SEASONALLY ADJUSTED DEGREE OF CAPACITY UTILISATION IN %: BY REGION
2001 2002 2003
Oct. Jan. April July Oct. Jan. April July Oct.
Flemish regionTotal of all industries (excludingfood industry) 80.5 78.7 79.6 79.8 80.1 77.6 78.7 77.4 80.3of which:
Production of consumer goods 82 80 80.5 77.1 77.7 72.7 74 73.8 79.2
Production of capital goods 80.8 80.2 78.3 80 80.9 79.9 80.6 78.8 80.4
Production of intermediate goods 79.3 75.6 80.7 82.6 82.5 81 83.2 81.1 81.6
Walloon regionTotal of all industries (excludingfood industry) 77.5 76.5 76.9 78.8 75.7 80.7 78.9 76.7 77.4of which:
Production of consumer goods 80.2 73.7 72.3 73.4 71.3 73.8 79.1 77.1 84.1
Production of capital goods 75.3 74.4 74 76.6 70.6 74.7 74.9 74.3 72.6
Production of intermediate goods 80.6 81.7 82.5 84.3 83.9 87 80.6 77.8 80.8
N.B.: As percentages of total production capacities.
23Statistical bulletin of the National Bank of Belgium (2003--IV)
2.3 BI-ANNUAL SURVEY2.3.1 FIXED CAPITAL INVESTMENT IN MANUFACTURING INDUSTRY
Successive forecasts in the NBB’s ”investment” survey 1 Realizations
In the autumn of the pre-vious year
In the spring of the cur-rent year
In the autumn of the cur-rent year
NBB’s ”investments” sur-vey 1 2
Investments accordingto VAT statistics. 3
1989 19.9 22.3 13.6 13.0 15.3
1990 17.9 23.0 12.8 14.5 17.5
1991 4.1 6.1 --1.6 0.0 --1.6
1992 5.8 3.6 1.5 --4.0 --7.6
1993 --17.0 --19.3 --28.3 --27.5 --19.7
1994 7.3 4.6 --3.5 --4.7 --8.1
1995 21.1 12.9 6.4 3.6 6.7
1996 17.2 22.7 5.2 5.1 11.2
1997 10.3 6.7 7.0 5.6 2.7
1998 9.2 12.4 3.9 9.4 5.3
1999 8.7 2.6 --4.4 2.3 3.0
2000 17.6 8.4 --0.9 2.8 3.8
2001 22.2 7.5 1.2 --1.0
2002 0.5 --3.8 --14.0 --13.0
2003 6.5 5.1 --10.5
2004 0.3
N.B.: Percentage changes in the data at current prices compared with the pre-vious year.
1 Source: NBB.2 Results of the following year’s spring survey.3 Source: NSI.
Bibliographical reference: Bulletin de la Banque Nationale de Belgique, LXIstyear, tome I, number 6, June 1986: ”Formation brute de capital fixe dans l’indus-trie manufacturière en Belgique: tour d’horizon des sources statistiques dispo-nibles et apport spécifique de l’enquête semestrielle de la Banque Nationale deBelgique”.
e: estimation
2.2.3 PRODUCTION CAPACITY AND INVESTMENT IN MANUFACTURING INDUSTRY
Annual percentage change of investment at current prices (left scale); source: NBB
Degree of utilisation of installed production capacity in percentage (right scale); source: NBB
1997 1998 1999 2000 2001 2002 2003-20
-15
-10
-5
0
5
10
15
20
77
79
81
83
85
87
e
24 Statistical bulletin of the National Bank of Belgium (2003--IV)
*1,0*0,5*0,5*1,0
*1,0*0,5*0,5*1,0
Credits standards as applied to the approvalof loans or credit lines to non-financial corporations(a)
Demand for loans or credit lines to non-financialcorporations (b)
Belgium:
observed results
expectations expressed to the previousquarter by the respondents
Euro area:
observed results
expectations expressed to the previousquarter by the respondents
Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2003-8, p.15.
(a) indicator = % of institutions reporting considerable relaxation + % of institutions reporting slight relaxation - % of institutions reporting slight tightening - % of institutions reporting considerable tightening
(b) indicator = % of institutions reporting considerable increase + % of institutions reporting slight increase - % of institutions reporting slight decrease - % of institutions reporting considerable decrease
Credits standards as applied to the approvalof loans to households - loans for house purchase (a)
Demand for loans to households - loans for house purchase (b)
Credits standards as applied to the approvalof loans to households -consumer credit and other lending (a)
Demand for loans to households - consumer credit and other lending (b)
2002-IV 2003-I 2003-II 2003-III 2003-IV-75%
0%
75%
2002-IV 2003-I 2003-II 2003-III 2003-IV-75%
0%
75%
2002-IV 2003-I 2003-II 2003-III 2003-IV-75%
0%
75%
2002-IV 2003-I 2003-II 2003-III 2003-IV-75%
0%
75%
2002-IV 2003-I 2003-II 2003-III 2003-IV-75%
0%
75%
2002-IV 2003-I 2003-II 2003-III 2003-IV-75%
0%
75%
2.4 MAIN RESULTS OF THE BANK LENDING SURVEY FOR THE EURO AREA AND BELGIUM
25Statistical bulletin of the National Bank of Belgium (2003--IV)
3 CHAPTER 3: POPULATION, EMPLOYMENT, UNEMPLOYMENT3.1 DEMAND FOR AND SUPPLY OF LABOUR
(thousands of units, annual averages)
1995 1996 1997 1998 1999 2000 2001 2002
Population of working age 1 6,704 6,703 6,706 6,709 6,715 6,721 6,743 6,772
Labour force 2 4,490 4,495 4,512 4,552 4,571 4,613 4,667 4,682
EmploymentNational employment 3 3,894 3,907 3,942 4,011 4,063 4,139 4,197 4,191
Frontier workers (balance) 46 47 48 49 49 50 50 50
Domestic employment 3,847 3,860 3,894 3,962 4,014 4,089 4,147 4,142
Self-employed persons 710 713 710 703 695 689 682 676
Employees 3,139 3,147 3,184 3,259 3,319 3,400 3,466 3,466
Breakdown by branches of activityAgriculture, hunting, forestry and fis-heries 27 28 28 29 29 29 28 28
Industry 677 667 658 658 649 651 652 637
Building industry 184 180 178 178 181 186 189 187
Services 2,251 2,273 2,320 2,394 2,459 2,534 2,596 2,614
Trade, transport and communica-tions 734 738 745 754 768 785 805 808
Financial, real estate and rental ser-vices and services to enterprises 370 378 401 436 454 488 502 494
Public administration and education 715 718 717 729 745 752 753 761
Other services 432 440 457 474 492 508 535 550
Breakdown by type of jobsActivation policy 4 0 3 8 15 27 31 34 37
Other job-creation measures 5 126 126 129 128 128 126 145 145
Other jobs 6 3,013 3,018 3,048 3,117 3,164 3,243 3,287 3,283
Unemployment 7 8 597 588 570 541 508 474 470 490
Vacancies 20 21 25 36 44 53 46 41
Sources: FOREM, MEL, NAI, NEMO, ORBEM, VDAB, NBB
1 Men and women aged 15 to 64.2 Sum of national employment and unemployment.3 Domestic employment plus balance of incoming and outgoing frontier-zone workers.4 LEA (local employment agency) workers exempted from having to sign on as job-seekers,
persons given work under an occupational transition programme or a service job.5 Third labour circuit, PRIME employment programme (regional projects for insertion in the
labour market) of the Walloon region, subsidised contractually employed persons, on-the-
job training of young people, interdepartmental budget fund, Royal Decrees 123 and 258,”First job” scheme.
6 Balance.7 Unemployed job-seekers, consisting of wholly unemployed persons receiving benefit ex-
cluding older unemployed persons and other compulsorily or voluntarily registered job-seekers.
8 Official unemployment statistic taking account of the changes made by FOREM, from No-vember 2001 onwards, in the method of recording job-seekers, in order to bring it into linewith that followed by the VDAB.
26S
tatisticalbulletinofthe
NationalB
ankofB
elgium(2003--IV
)
3.2 UNEMPLOYMENT AND VACANCIES
Unemployed job-seekers Seasonally ad-justed unemploy-
Non-job-seekingwholly unemployed
Vacancies notified to NEMO 3
Wholly unemployed persons entitled to benefit Young workers dur-ing the waiting pe-
Voluntarily regis-tered job-seekers
Other 4 Total
Seasonally ad-justed unemploy-ment rate
Non-job-seekingwholly unemployedpersons entitled tobenefit 1 2
Notifications re-ceived during the
Vacancies still unfil-led 1
aged under 25 aged 25 or over Totaling the waiting pe-riod
tered job-seekerswithout employ-ment
benefit 1 2 ceived during themonth 5
led 1
1994 102.5 404.7 507.2 37.1 16.9 27.5 588.7 9.8 73.1 13.1 19.0
1995 87.8 412.1 499.9 49.4 17.4 30.1 596.9 9.7 72.5 12.4 19.6
1996 87.5 390.2 477.7 51.6 21.8 37.1 588.3 9.5 91.7 13.6 21.3
1997 83.6 374.8 458.4 49.9 22.5 39.2 570.1 9.2 113.8 15.2 24.6
1998 77.1 354.7 431.8 49.9 21.3 38.0 541.0 9.3 130.4 18.0 36.3
1999 72.2 330.3 402.5 47.4 23.5 34.3 507.6 8.6 140.2 20.6 44.0
2000 64.7 309.1 373.8 43.3 27.2 30.1 474.4 6.9 149.7 24.1 53.1
2001 63.8 296.0 359.8 43.0 38.9 28.0 469.7 6.6 159.4 23.5 46.4
2002 68.6 306.8 375.4 46.8 38.2 31.1 491.5 7.3 166.5 24.5 41.2
2003 76.0 336.7 412.8 49.2 40.7 35.5 538.1 8.0
2001 IV 63.4 293.3 356.7 50.0 46.1 28.8 481.6 6.9 161.7 21.4 38.9
2002 I 62.6 300.7 363.3 41.5 39.7 29.2 473.7 7.1 163.6 26.4 40.9
II 65.3 297.2 362.5 27.9 37.0 29.8 457.2 7.3 167.2 26.2 44.6
III 76.2 315.0 391.2 61.8 36.8 31.9 521.7 7.4 168.1 23.1 43.3
IV 70.4 314.4 384.8 55.8 39.3 33.5 513.3 7.5 167.1 22.4 35.9
2003 I 70.4 326.9 397.4 45.7 38.1 34.2 515.4 7.8 165.9 27.5 40.2
II 73.7 328.6 402.3 29.6 38.7 35.0 505.7 8.0 165.6 27.2 42.1
III 84.2 349.6 433.8 64.4 41.5 36.0 575.7 8.1 164.0 25.9 41.8
IV 75.7 341.9 417.6 57.2 44.4 36.7 555.9 8.1
2002 Dec. 70.3 318.8 389.1 51.8 37.7 33.6 512.2 7.6 166.6 18.9 34.2
2003 Jan. 71.7 326.4 398.1 49.1 37.9 34.0 519.2 7.7 166.2 26.6 37.8
Feb. 70.6 327.7 398.3 45.9 38.4 34.4 517.0 7.8 165.9 27.2 40.2
March 69.0 326.7 395.7 42.1 37.9 34.2 509.9 7.8 165.7 28.8 42.5
April 71.3 329.1 400.4 35.2 38.3 35.2 509.1 7.9 166.4 26.8 41.2
May 73.1 326.4 399.5 27.6 39.0 34.8 500.9 8.0 165.4 28.4 42.6
June 76.8 330.2 407.0 26.1 38.9 35.0 507.0 8.1 165.0 26.5 42.5
July 85.4 350.0 435.4 58.0 40.0 35.9 569.3 8.1 164.7 23.4 41.3
Aug. 86.0 351.2 437.2 66.1 40.6 35.8 579.7 8.1 163.9 25.0 43.3
Sep. 81.2 347.5 428.7 69.2 44.0 36.2 578.0 8.0 163.5 29.3 40.7
Oct. 77.9 343.0 420.9 61.8 45.9 36.9 565.5 8.1 163.2 31.2 39.7
Nov. 74.3 337.7 412.0 55.6 43.4 36.4 547.3 8.1 161.5 24.8 38.2
Dec. 74.8 345.1 419.9 54.1 44.0 36.8 554.8 8.2
Source: NEMO
1 In thousands of units. Annual or quarterly data: average of end-of-month data; monthly data: end-of-month data.2 Unemployed persons receiving benefit who have opted for non-job-seeking status as permitted by Royal Decree dated 29 Decem-
ber 1984.
3 Including vacancies among on-the-job training places for young people and in respect of the special temporary staff scheme andthe third labour circuit.
4 Excluding unemployed persons given work in a sheltered workshop, unemployed persons who have accepted a part-time job inorder to escape unemployment and, from January 1985 onwards, job-seekers working part-time during their waiting period.
5 In thousands of units. Annual or quarterly data: annual average or quarterly average of the monthly data.
27Statistical bulletin of the National Bank of Belgium (2003--IV)
4 CHAPTER 4: INDUSTRY4.1 INDUSTRIAL PRODUCTION
(indices year 2000 = 100)
Monthly averages or months Total industry Construc-tion
Index-numbers by purpose of the goods Mining andquarrying
Manufac-turing;
Monthly averages or months
Includingconstruc-tion
Excludingconstruc-tion
tionIntermedi-ate goods
Consumergoods
Non-dura-ble con-sumergoods
Durableconsumergoods
Investmentgoods
quarrying turing;overall in-dex exclud-ing electric-ity, gas andwater
NACE-divisions 10 - 45 10 - 41 45 10 - 14 15 - 37
Weighting in relation with the total in-dustry 100.0 81.4 18.6 - - - - - 0.7 71.7
2001 99.4 99.6 98.6 96.9 102.1 102.2 97.6 112.0 100.9 99.9
2002 100.0 101.0 95.6 104.0 102.5 104.3 92.7 104.5 131.9 100.8
2001 III 92.2 93.0 88.7 93.6 98.9 99.3 83.8 94.0 100.0 93.6
IV 100.8 100.8 101.0 93.6 106.8 107.0 102.8 110.0 95.9 99.7
2002 I 99.4 100.0 96.7 101.6 100.6 100.9 95.2 105.5 109.7 99.8
II 103.3 102.9 104.8 105.6 101.9 102.1 97.8 114.4 130.6 104.2
III 95.0 97.0 86.3 101.5 100.3 103.6 79.4 94.6 137.4 96.7
IV 102.1 103.9 94.6 107.1 107.2 110.6 98.3 103.4 150.1 102.5
2003 I 98.7 100.0 93.2 109.7 99.1 101.0 88.6 100.4 116.4 98.8
II 100.2 100.0 100.5 101.4 97.6 99.6 86.2 108.0 137.4 100.2
III 93.4 95.0 86.5 110.7 98.5 102.2 73.6 85.2 124.6 93.0
2002 Oct. 112.6 112.3 113.8 107.4 117.0 118.4 100.6 126.6 126.1 111.8
Nov. 101.7 102.8 97.4 114.1 103.8 108.1 101.2 93.9 170.9 101.4
Dec. 92.0 96.5 72.5 99.9 100.8 105.4 93.1 89.8 153.4 94.2
2003 Jan. 96.0 99.1 83.4 119.2 99.8 102.1 85.2 91.6 97.2 96.6
Feb. 95.9 97.4 89.8 105.2 95.4 96.8 88.6 100.4 116.9 96.3
March 104.1 103.4 106.5 104.6 102.2 104.0 92.1 109.3 135.0 103.6
April 101.4 101.3 101.0 99.0 100.6 102.2 92.8 104.4 142.9 102.0
May 97.1 97.6 94.8 101.1 94.5 96.7 80.7 106.7 131.8 97.6
June 102.2 101.2 105.7 104.1 97.7 99.8 85.0 112.9 137.6 101.1
July 85.3 91.8 59.1 107.5 93.7 98.0 64.1 86.3 107.8 89.9
Aug. 87.8 87.7 87.9 110.3 92.7 97.5 58.5 68.4 120.7 84.8
Sep. 107.1 105.6 112.6 114.4 109.2 111.1 98.3 100.9 145.3 104.3
Oct. 109.9 108.5 114.7 118.6 108.4 112.2 82.8 107.6 154.6 107.0
Source: NSI: Industrial statistics
N.B.: Provisional data for the last six months.
28S
tatisticalbulletinofthe
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4.2 PRODUCTION OF MANUFACTURED INDUSTRY: BREAKDOWN BY INDUSTRIAL SECTOR
(indices year 2000 = 100)
Monthly aver-ages or
Food, beveragesand tobacco
Textiles Clothingand furs
Leatherand foot-wear
Wood Paperand pa-perboard
Coke,refinedpetro-
Chemical, rubber and plasticsindustries
Othernon-me-tallic
Basicmetals
Metal products Electric-ity, gasand wa-
Electrici-ty
Water
ages ormonths Food
and be-verages
Tobacco
and furs and foot-wear
and pa-perboard
refinedpetro-leumand nu-clear fu-el
Overallindex
Chemi-cal indu-stry
Rubberandplasticsindustry
non-me-tallicmineralproducts
metals
Overallindex
Fabri-catedmetalproducts
Machin-ery andequip-ment
Electri-cal andelectron-ic equip-ment 1
Medicalequip-ment,preci-sion in-stru-mentsetc. 1
Trans-portequip-ment
ity, gasand wa-ter
ty
NACE-div. 15 16 17 18 19 20 21 23 24 - 25 24 25 26 27 28 - 35 28 29 30 - 32 33 34 - 35 40 - 41 40.1 41
Weighting inrel. with totalind. 9.6 0.5 3.2 1.5 0.1 0.2 1.6 0.9 14.7 11.3 3.4 3.6 5.9 21.0 3.8 4.1 7.5 9.0 5.7 1.9
2001 104.0 95.6 96.5 89.5 91.7 101.4 97.7 106.2 97.3 97.3 97.1 98.4 88.6 103.7 102.8 98.7 94.2 104.8 115.2 97.4 93.5 100.9
2002 111.3 51.2 94.7 76.1 77.9 109.6 103.2 114.3 104.2 106.3 93.5 100.0 89.3 99.8 104.3 102.9 83.6 112.8 106.7 99.8 95.7 96.9
2001 III 105.2 95.5 87.7 100.4 91.4 94.8 94.8 106.9 93.3 93.7 91.4 92.8 90.9 90.8 95.4 87.0 83.1 97.4 95.6 88.7 88.0 100.4
IV 111.3 90.2 97.6 69.6 75.8 103.7 96.3 111.9 93.4 93.8 91.7 97.1 81.3 102.5 105.0 101.5 88.8 111.9 111.3 108.4 100.4 99.4
2002 I 105.0 48.4 96.6 90.7 86.3 108.4 106.6 108.5 104.7 106.8 94.5 93.1 94.1 98.9 102.2 99.5 84.4 102.4 107.4 100.6 101.8 96.6
II 108.7 53.9 95.0 62.7 86.8 115.5 106.6 118.8 108.8 110.6 99.4 112.2 92.9 105.2 109.7 111.4 84.7 109.4 114.8 91.6 92.8 98.5
III 112.8 49.4 88.3 90.0 75.0 103.4 97.6 114.1 102.6 105.4 88.5 98.0 86.3 90.9 96.9 96.5 77.2 104.2 92.5 97.0 90.1 96.4
IV 118.8 53.1 98.8 61.1 63.6 111.1 101.9 115.9 100.5 102.3 91.5 96.7 84.0 104.3 108.3 104.2 88.1 135.1 112.0 110.2 98.2 96.2
2003 I 105.6 49.0 93.3 77.2 76.8 116.2 108.2 112.2 106.9 109.4 94.6 94.5 95.2 95.0 99.1 96.3 81.7 117.2 99.7 106.3 114.2 98.0
II 104.7 54.0 89.1 50.4 72.9 140.4 105.8 119.9 104.7 105.5 100.2 109.9 94.5 98.8 104.7 102.9 80.3 116.6 105.7 96.4 102.8 100.7
III 105.1 49.4 81.9 73.2 70.4 119.2 102.2 110.2 102.0 103.7 93.5 100.3 89.1 84.6 95.9 86.8 74.4 108.6 79.6 107.7 104.0 104.9
2002 Oct. 129.6 51.4 113.2 73.8 88.7 127.9 116.1 117.0 105.6 105.2 107.2 119.4 95.6 113.7 113.8 113.3 86.4 170.3 133.4 114.8 97.3 102.2
Nov. 113.5 52.9 105.5 55.2 55.4 112.4 101.6 114.8 99.8 101.1 93.4 99.9 84.9 102.5 107.8 99.1 89.9 118.0 109.4 107.8 98.6 92.4
Dec. 113.3 54.9 77.8 54.4 46.6 93.1 88.1 115.8 96.2 100.7 74.0 70.8 71.6 96.6 103.2 100.3 88.1 116.9 93.2 107.9 98.6 94.1
2003 Jan. 106.8 43.9 96.5 76.6 77.6 107.0 112.6 117.9 107.2 110.5 91.0 83.1 92.6 89.9 96.4 89.2 79.0 112.8 91.9 116.0 120.5 103.4
Feb. 104.5 51.1 92.3 83.7 74.9 106.3 103.2 97.6 102.3 103.7 95.1 90.8 93.2 94.2 96.8 96.1 81.6 118.8 99.0 103.1 111.6 92.3
March 105.5 51.9 91.2 71.2 78.0 135.3 108.9 121.2 111.2 113.9 97.8 109.6 99.7 100.8 104.2 103.6 84.6 120.0 108.2 99.8 110.4 98.2
April 109.2 54.3 95.4 53.3 80.4 142.4 110.2 119.5 109.1 110.3 102.8 111.9 95.3 97.7 103.2 98.5 81.1 114.4 105.3 93.8 103.4 102.3
May 102.5 50.5 83.1 45.0 65.2 133.2 102.5 125.1 101.4 102.9 93.9 103.1 90.0 95.9 99.0 98.2 77.6 110.2 106.8 95.5 103.7 97.9
June 102.5 57.1 88.8 53.0 73.1 145.6 104.6 115.1 103.5 103.2 104.0 114.6 98.2 102.9 111.8 112.1 82.1 125.3 105.0 99.9 101.3 101.9
July 105.9 49.2 82.4 68.1 71.5 113.3 102.8 109.1 102.5 104.5 92.6 89.8 81.4 81.6 89.5 90.0 68.0 106.2 78.3 104.3 103.1 102.7
Aug. 101.8 40.7 61.4 76.9 63.3 102.8 90.1 115.5 96.6 99.6 82.2 90.9 90.0 70.6 84.9 71.9 64.6 88.4 60.5 106.6 103.3 105.9
Sep. 107.6 58.3 102.0 74.6 76.5 141.6 113.8 105.9 106.9 106.9 105.8 120.2 96.0 101.5 113.3 98.4 90.7 131.2 99.9 112.2 105.6 106.2
Oct. 123.5 61.8 98.4 58.9 69.8 125.0 112.3 108.7 109.5 108.9 111.1 123.5 95.7 103.5 122.0 95.2 72.9 121.7 120.4 116.4 114.0 108.2
Source: NSI: Industrial statistics
N.B.: Provisional data for the last six months.
1 Common weight of NACE-divisions 30 to 33: 5.7 p.c.
29Statistical bulletin of the National Bank of Belgium (2003--IV)
4.3 ENERGY
Monthly averages or months Petroleum (thousands of tonnes) Electricity (millions ofkWh)
Processing of crudepetroleum
Domestic consumption 1 Net productionProcessing of crudepetroleum
Total 1 of which:
Net production
Total
Petrol for motor vehi-cles
Gas oil and light fueloil
Residual fuel oil
1993 2,314 1,366 237 761 187 5,593
1994 2,350 1,403 237 787 189 5,714
1995 2,198 1,394 236 806 165 5,886
1996 2,636 1,484 228 892 162 6,030
1997 2,727 1,507 211 915 148 6,257
1998 2,888 1,539 209 917 163 6,624
1999 2,679 1,492 200 896 161 6,737
2000 2,829 1,433 187 884 131 6,597
2001 2,671 1,458 182 930 146 6,341
2002 2,795 1,501 174 894 78 6,509
2001 III 2,761 1,399 176 922 89 5,952
IV 2,588 1,439 190 919 189 6,872
2002 I 2,539 1,327 177 951 49 6,811
II 2,869 1,197 166 758 76 6,272
III 2,807 1,229 173 825 58 6,087
IV 2,964 2,250 179 1,043 129 6,867
2003 I 3,020 1,561 169 1,059 144 7,056
II 3,182 1,385 180 815 161 6,300
III 6,519
2002 October 2,890 1,445 161 1,004 121 6,580
November 2,992 1,443 155 995 130 6,659
December 3,010 3,861 220 1,131 137 7,361
2003 January 2,988 1,700 168 1,166 165 7,449
February 2,682 1,583 159 1,150 111 6,897
March 3,390 1,400 181 862 155 6,822
April 3,279 1,394 185 801 162 6,486
May 3,322 1,450 178 842 210 6,251
June 2,946 1,310 176 803 111 6,163
July 3,206 1,466 188 939 114 6,374
August 2,914 1,200 162 686 145 6,656
September 6,528
October 6,999
Sources: NSI, PFE for electricity
1 Petrol for motor vehicles, gas oil, light fuel oil, aviation petrol and jet fuel (petrol type), spe-cial petrol and white spirit, petroleum and jet fuel (petroleum type), lubricating oil and other
lubricants, residual fuel oil, asphaltic bitumens, petroleum gas for energy purposes andchemical purposes.
30 Statistical bulletin of the National Bank of Belgium (2003--IV)
4.4 BUILDING
Monthly averages ormonths
Dwellings Other buildings Production (in-dex year 1995
Monthly averages ormonths Building permits 2 3 Actual building starts 2 Building permits 2 3 Actual building starts 2
Production (in-dex year 1995= 100) 1
Number 4 Volume 5 Number 4 Volume 5 Number 4 Volume 5 Number 4 Volume 5
= 100) 1
1993 4.6 2,751 3.8 2,327 0.7 3,532 0.6 2,862 92.8
1994 4.6 2,804 4.1 2,592 0.7 3,313 0.6 3,002 98.9
1995 3.7 2,286 3.8 2,370 0.6 3,010 0.7 3,064 100.4
1996 4.0 2,460 3.8 2,314 0.6 3,436 0.6 2,807 100.4
1997 4.2 2,518 4.0 2,392 0.6 3,313 0.6 3,170 103.3
1998 3.2 1,976 3.4 2,100 0.6 3,710 0.5 3,469 104.8
1999 3.8 2,386 3.5 2,173 0.6 4,323 0.6 4,006 108.8
2000 3.6 2,215 3.5 2,164 0.5 3,968 0.5 3,737 113.9
2001 3.4 2,130 3.5 2,123 0.5 4,124 0.5 3,953 112.1
2002 3.5 2,075 3.2 1,909 0.4 2,899 0.4 2,767 110.7
2001 III 3.3 2,008 2.8 1,780 0.5 4,831 0.5 3,762
IV 3.1 1,920 3.0 1,774 0.4 3,362 0.4 3,933
2002 I 3.3 1,978 2.9 1,802 0.4 2,640 0.4 2,919
II 3.6 2,191 3.4 2,100 0.4 3,105 0.4 2,577
III 3.9 2,180 3.3 1,987 0.4 3,143 0.4 2,708
IV 3.3 1,951 3.0 1,746 0.3 2,709 0.3 2,864
2003 I 3.5 2,057 3.2 1,907 0.3 2,268 0.3 2,266
II 3.9 2,372 3.2 1,990 0.3 2,388 0.3 2,016
III 4.0 2,416 3.0 1,879 0.3 2,489 0.3 2,507
2002 Oct. 3.3 2,047 3.6 2,122 0.4 3,293 0.4 3,039 105.9
Nov. 3.0 1,746 2.9 1,663 0.3 2,616 0.3 3,392 115.2
Dec. 3.5 2,060 2.5 1,454 0.3 2,218 0.3 2,162 107.8
2003 Jan. 3.4 1,922 3.0 1,719 0.3 1,815 0.3 2,172
Feb. 3.2 1,899 3.1 1,765 0.3 2,745 0.3 2,197
March 3.9 2,350 3.6 2,236 0.3 2,244 0.3 2,429
April 4.1 2,486 3.5 2,143 0.3 2,145 0.3 1,853
May 3.5 2,166 3.0 1,894 0.3 1,945 0.3 2,298
June 4.0 2,465 3.0 1,932 0.3 3,075 0.3 1,898
July 3.8 2,400 2.3 1,481 0.3 2,263 0.2 1,538
Aug. 3.9 2,270 2.8 1,782 0.3 1,550 0.3 2,421
Sep. 4.4 2,578 4.0 2,373 0.3 3,653 0.3 3,561
Oct. 4.0 2,461 0.4 2,708
Source: NSI: Industrial statistics
1 Public and private works. Monthly index-numbers: moving averages for the last twelvemonths of the production index-number not adjusted for seasonal variations but adjustedfor the unequal composition of the months. Annual index-numbers: averages of the produc-tion index-number not adjusted for seasonal variations but adjusted for the unequal com-position of the months, of the twelve months of the year and not the average of the monthlyindex-numbers.
2 New series, drafted by the NSI : provisional figures for the last two calender years. Annualand quarterly data : averages of the monthly data.
3 Concerning the month of concession.4 Thousands.5 Thousand cubic metres.
31S
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4.5 INDUSTRIAL PRODUCTION OF THE COUNTRIES OF THE EUROPEAN UNION
(indices year 1995 = 100, seasonally adjusted)
Total EUcountries
Belgium Germany France United King-dom
Netherlands Italy Ireland GrandDuchy ofLuxembourg
Greece Spain Portugal Austria Sweden Finland Denmark
1993 92 92 95 94 93 91 90 74 93 97 89 90 92 82 84 87
1994 97 94 99 98 98 96 95 83 98 98 95 90 95 91 93 96
1995 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100
1996 101 101 101 101 101 102 98 108 100 101 99 105 101 101 104 102
1997 104 105 104 105 102 103 102 127 106 103 106 108 107 108 114 108
1998 108 109 109 110 103 105 103 152 106 110 111 114 116 112 123 110
1999 110 110 110 112 104 107 103 175 118 114 114 118 123 116 130 113
2000 115 115 117 116 106 111 108 202 123 115 119 115 134 122 144 120
2001 116 114 118 118 105 111 106 222 125 116 118 119 138 121 144 122
2002 115 115 117 117 103 110 105 240 126 117 118 119 139 120 147 122
2001 III 115 114 118 119 103 112 106 213 125 116 119 120 134 121 144 123
IV 113 113 115 116 101 111 104 219 125 115 116 119 135 123 141 121
2002 I 115 114 116 116 103 109 105 243 123 117 118 118 137 124 141 119
II 115 116 116 117 103 110 105 245 130 119 118 120 142 121 149 125
III 115 116 117 117 102 110 105 236 125 115 119 120 141 121 148 121
IV 115 115 117 116 102 109 105 233 126 117 119 117 138 122 149 122
2003 I 115 114 118 117 102 110 104 250 129 116 119 142 122 145
II 115 113 117 115 102 107 104 250 127 122 117 123 147
III 115 114 116 115 102 107 105 252 120 124 150
2002 Oct. 115 115 117 116 102 112 105 241 127 112 120 120 142 120 148 122
Nov. 115 115 119 117 102 107 105 237 129 120 119 114 137 120 149 118
Dec. 114 114 115 116 102 109 105 221 123 120 119 116 136 125 148 115
2003 Jan. 115 114 118 116 101 109 104 239 128 112 119 120 144 122 142 120
Feb. 116 113 118 117 102 115 105 258 129 118 119 121 143 121 149 121
March 115 113 118 116 102 107 104 253 131 117 119 117 139 122 145 118
April 115 114 117 115 102 107 104 251 130 121 120 115 145 124 146 119
May 114 112 117 114 102 106 103 250 125 124 119 118 141 121 147 119
June 114 113 116 115 103 106 104 249 127 120 119 117 124 147 116
July 116 117 119 115 102 105 105 239 134 119 120 121 124 152 119
Aug. 115 112 115 114 102 109 105 281 133 120 124 124 149 117
Sep. 114 113 115 115 102 107 105 238 119 114 123 149 117
Oct. 148
Source: OECD: Main economic indicators
32 Statistical bulletin of the National Bank of Belgium (2003--IV)
5 CHAPTER 5: SERVICES5.1 SNCB/NMBS ACTIVITY
SNCB/NMBS
Passenger traffic Goods traffic (complete wagons)
Passenger-km (mil-lions)
Productive tonnes-km(millions)
Total tonnage (thousands of tonnes)Passenger-km (mil-lions)
Productive tonnes-km(millions)
Total of which:Total
Fuels and mineral oils Ores
1993 558 631 4,858 873 858
1994 552 674 5,284 932 916
1995 563 633 5,104 858 814
1996 558 604 4,758 818 625
1997 576 619 4,889 685 505
1998 581 634 5,062 661 594
1999 600 618 4,943 552 497
2000 640 640 5,106 419 556
2001 672 577 4,638 382 432
2002 682 593 4,649 323 349
2001 II 689 556 4,031 377 237
III 677 519 4,672 354 168
IV 673 652 5,120 418 807
2002 I 666 575 4,577 275 378
II 678 621 4,764 344 328
III 673 576 4,572 335 386
IV 710 598 4,682 340 306
2003 I 671 557 4,334 338 408
II 671 577 4,463 259 183
2002 August 642 566 4,529 320 377
September 711 565 4,687 319 403
October 745 666 5,160 333 399
November 705 553 4,441 285 197
December 680 576 4,445 402 322
2003 January 653 513 4,163 353 390
February 662 578 4,296 340 441
March 699 580 4,543 322 392
April 652 618 4,817 333 191
May 696 584 4,231 223 143
June 665 530 4,342 221 216
July 681 756 5,809 585 1,112
August 656 512 3,865 340 396
Sources: SNCB/NMBS
33Statistical bulletin of the National Bank of Belgium (2003--IV)
5.2 INNER TRADE
(indices year 1990 = 100)
Retail trade turnover according to VAT
Values Volume
Monthly returns Monthly and quarterlyreturns
Annual data Monthly returns Monthly and quarterlyreturns
Annual data
1992 113.0 109.1 109.3 109.1 105.3 105.5
1993 110.9 107.1 107.3 105.2 101.6 101.8
1994 114.4 109.3 109.2 106.4 101.7 101.6
1995 116.8 110.7 110.6 107.6 102.0 101.9
1996 121.6 114.5 114.3 110.0 103.6 103.4
1997 127.3 118.6 118.4 113.3 105.5 105.3
1998 137.0 125.5 125.3 121.7 111.5 111.3
1999 141.6 129.9 129.7 124.6 114.3 114.2
2000 157.6 141.4 141.2 134.7 120.9 120.7
2001 168.8 147.7 140.8 123.2
1999 IV 152.4 140.0 133.3 122.5
2000 I 155.2 137.2 134.6 119.0
II 156.0 142.3 133.8 122.0
III 147.6 133.0 125.4 113.0
IV 171.6 153.2 144.9 129.4
2001 I 168.2 146.2 142.4 123.8
II 174.6 152.5 144.8 126.5
III 159.4 140.1 132.0 116.0
IV 172.8 152.0 143.6 126.4
2000 December 188.6 168.4 159.8 142.7
2001 January 166.3 144.6 141.4 123.0
February 156.5 136.0 132.4 115.1
March 181.7 157.9 153.3 133.2
April 166.9 145.8 139.3 121.7
May 177.4 154.9 146.9 128.2
June 179.6 156.9 148.2 129.5
July 160.0 140.6 132.8 116.7
August 153.4 134.8 127.2 111.8
September 164.8 144.8 136.0 119.5
October 173.5 152.6 143.7 126.4
November 165.0 145.2 136.9 120.5
December 179.9 158.3 150.2 132.1
Sources: NSI: values; NBB: volume calculation
34 Statistical bulletin of the National Bank of Belgium (2003--IV)
5.3 PAYMENT SYSTEMS AND INSTRUMENTS5.3.1 PAYMENT SYSTEMS BETWEEN BANKS - NUMBER OF TRANSACTIONS
(in thousands, monthly averages)
Credit transfers Debit transfers Grand total
ELLIPS CEC Clearing House Total CEC Clearing House Total
Grand total
1993 31,040.8 363.5 31,404.3 30,647.0 916.4 31,563.4 62,967.7
1994 33,023.4 346.7 33,370.1 32,337.7 834.6 33,172.3 66,542.4
1995 34,819.7 336.1 35,155.8 34,032.0 735.6 34,767.6 69,923.4
1996 19.2 1 36,763.3 242.9 37,025.4 35,564.0 619.7 36,183.7 73,209.1
1997 79.6 38,452.7 29.8 38,562.1 34,886.1 534.8 35,420.9 73,983.0
1998 83.8 41,321.1 3.6 41,408.5 35,986.8 475.6 36,462.4 77,870.9
1999 164.3 44,216.2 2.3 44,382.8 33,772.2 409.4 34,181.6 78,564.4
2000 196.6 44,793.6 2.1 44,992.3 28,876.5 351.4 29,227.9 74,220.2
2001 206.3 47,881.7 2.3 48,090.3 28,617.5 294.7 28,912.2 77,002.5
2002 206.6 51,163.5 1.8 51,371.9 30,877.3 145.1 31,022.4 82,394.3
2001 III 201.9 45,598.7 2.3 45,802.9 29,314.5 326.1 29,640.6 75,443.5
IV 209.3 51,084.5 2.0 51,295.8 28,949.1 241.5 29,190.6 80,486.4
2002 I 209.5 48,318.7 2.1 48,530.3 28,854.5 156.9 29,011.4 77,541.7
II 207.8 52,287.9 1.7 52,497.4 30,716.9 152.0 30,868.9 83,366.3
III 201.4 50,071.1 1.6 50,274.1 32,426.2 135.2 32,561.4 82,835.5
IV 207.5 53,976.3 1.7 54,185.5 31,511.5 136.4 31,647.9 85,833.4
2003 I 203.1 52,292.9 1.3 52,497.3 30,381.7 140.4 30,522.1 83,019.4
II 214.1 53,786.4 1.2 54,001.7 32,459.7 132.8 32,592.5 86,594.2
III 216.7 51,970.7 1.5 52,188.9 31,999.5 122.9 32,122.4 84,311.3
2002 November 198.2 48,723.5 1.8 48,923.5 28,196.9 120.9 28,317.8 77,241.3
December 207.3 58,695.3 1.5 58,904.1 33,884.3 138.3 34,022.6 92,926.7
2003 January 204.0 53,213.2 1.5 53,418.7 32,108.8 146.5 32,255.3 85,674.0
February 195.5 49,413.0 1.1 49,609.6 28,066.7 136.0 28,202.7 77,812.3
March 209.9 54,252.5 1.3 54,463.7 30,969.6 138.8 31,108.4 85,572.1
April 211.4 53,596.4 1.2 53,809.0 32,842.5 135.4 32,977.9 86,786.9
May 219.0 51,277.8 1.1 51,497.9 30,078.1 120.9 30,199.0 81,696.9
June 211.8 56,485.1 1.3 56,698.2 34,458.6 142.0 34,600.6 91,298.8
July 232.2 54,984.2 1.6 55,218.0 35,735.8 138.0 35,873.8 91,091.8
August 195.9 46,991.0 1.5 47,188.4 29,154.8 105.5 29,260.3 76,448.7
September 221.9 53,936.8 1.5 54,160.2 31,108.0 125.2 31,233.2 85,393.4
October 245.2 57,722.0 1.6 57,968.8 31,278.7 138.4 31,417.1 89,385.9
November 205.0 49,212.8 1.9 49,419.7 26,266.5 109.4 26,375.9 75,795.6
Sources: ELLIPS, CEC, Belgian clearing house
1 This is the average based on 12 months. ELLIPS started on the 24th of September, the monthly average 1996 since the start of ELLIPS is 57.6.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 1998-IV, p 13-15
35Statistical bulletin of the National Bank of Belgium (2003--IV)
5.3.2 PAYMENT SYSTEMS BETWEEN BANKS - VALUE OF TRANSACTIONS
(millions of euro, monthly averages)
Credit transfers Debit transfers Grand total
ELLIPS CEC Clearing House Total CEC Clearing House Total
Grand total
1993 40,650 559,292 599,942 4,440 40,479 44,918 644,860
1994 46,026 633,750 679,776 4,611 40,843 45,454 725,230
1995 50,189 627,614 677,803 5,072 36,971 42,043 719,846
1996 162,799 1 50,213 437,944 650,956 6,517 30,637 37,154 688,110
1997 708,470 33,017 659 742,146 5,117 10,521 15,637 757,783
1998 779,087 35,057 10 814,154 5,149 9,896 15,045 829,199
1999 1,619,172 34,161 12 1,653,345 5,526 9,355 14,881 1,668,226
2000 1,764,780 34,463 3 1,799,246 5,903 8,748 14,651 1,813,897
2001 1,985,656 36,198 8 2,021,862 6,172 7,427 13,599 2,035,461
2002 1,853,654 37,835 7 1,891,496 6,412 6,284 12,696 1,904,192
2001 III 1,983,668 35,053 7 2,018,728 6,260 6,871 13,131 2,031,859
IV 2,137,307 37,244 13 2,174,564 6,197 7,044 13,241 2,187,805
2002 I 1,978,925 35,514 8 2,014,447 6,018 6,673 12,691 2,027,138
II 1,853,189 39,437 6 1,892,632 6,567 6,505 13,072 1,905,704
III 1,678,410 37,075 6 1,715,491 6,519 5,747 12,266 1,727,757
IV 1,904,093 39,313 8 1,943,414 6,544 6,211 12,755 1,956,169
2003 I 1,993,574 37,721 9 2,031,304 6,239 5,695 11,934 2,043,238
II 1,822,173 40,523 8 1,862,704 6,667 5,238 11,905 1,874,609
III 1,759,580 38,378 6 1,797,964 6,655 5,077 11,732 1,809,696
2002 November 1,690,023 34,890 8 1,724,921 5,920 5,345 11,265 1,736,186
December 2,098,676 42,768 7 2,141,451 7,078 6,710 13,788 2,155,239
2003 January 2,042,508 39,884 10 2,082,402 6,430 5,968 12,398 2,094,800
February 1,861,228 35,557 10 1,896,795 5,899 5,365 11,264 1,908,059
March 2,076,986 37,722 6 2,114,714 6,387 5,753 12,140 2,126,854
April 1,741,639 41,586 6 1,783,231 6,555 4,884 11,439 1,794,670
May 1,786,365 38,246 8 1,824,619 6,277 5,049 11,326 1,835,945
June 1,938,514 41,737 9 1,980,260 7,169 5,782 12,951 1,993,211
July 1,918,338 41,735 9 1,960,082 7,051 5,446 12,497 1,972,579
August 1,540,042 34,971 4 1,575,017 5,940 4,259 10,199 1,585,216
September 1,820,359 38,429 6 1,858,794 6,975 5,527 12,502 1,871,296
October 1,852,050 42,512 9 1,894,571 7,229 6,039 13,268 1,907,839
November 1,701,608 35,211 12 1,736,831 6,204 5,019 11,223 1,748,054
Sources: ELLIPS, CEC, Belgian clearing house
1 This is the average based on 12 months. ELLIPS started on the 24th of September 1996, the monthly average 1996 since the start of ELLIPS is 488,400.
36 Statistical bulletin of the National Bank of Belgium (2003--IV)
5.3.5 PAYMENT CARDS - NUMBER OF TRANSACTIONS BY TYPE OF CARD
(millions)
Cards with a debit function Cards with a credit function Company cards Prepaid cards 1
Payments Withdrawals Payments Withdrawals Payments Payments
1990 II 36.4 37.3 8.8 5.4
1991 I 40.2 38.1 9.4 0.6 6.1
II 46.2 41.1 11.1 1.0 6.3
1992 I 50.6 42.0 11.3 1.1 6.8
II 56.0 43.7 12.7 1.5 7.3
1993 I 60.1 55.0 12.1 1.6 7.8
II 67.8 57.3 13.4 1.8 7.9
1994 I 70.3 60.3 13.0 1.9 8.4
II 75.7 67.6 15.2 2.6 8.5
1995 I 78.7 67.5 15.5 2.4 9.3
II 88.2 72.1 16.7 2.9 9.7 0.7
1996 I 91.8 71.6 16.9 2.6 10.3 0.4
II 100.7 76.6 19.0 3.0 10.7 1.1
1997 I 103.2 74.0 18.5 2.8 11.5 3.8
II 115.1 79.9 21.1 2.9 12.0 6.4
1998 I 126.2 72.6 21.2 3.7 12.4 12.1
II 147.0 82.4 23.2 1.7 12.6 16.1
1999 I 152.8 82.0 23.1 2.8 13.4 22.0
II 174.3 89.5 25.6 3.0 13.8 23.5
2000 I 179.8 93.6 26.1 2.8 14.1 25.5
II 199.9 103.0 27.7 3.0 14.4 25.7
2001 I 205.3 106.4 29.8 3.6 15.2 27.8
II 226.8 106.7 31.0 4.4 15.3 32.7
2002 I 244.5 114.7 27.4 3.8 16.3 64.9
II 260.8 114.3 29.7 4.4 16.4 55.9
1 Proton cards
37Statistical bulletin of the National Bank of Belgium (2003--IV)
5.3.6 PAYMENT CARDS - AMOUNT OF TRANSACTIONS BY TYPE OF CARD
(millions of euro)
Cards with a debit function Cards with a credit function Company cards Prepaid cards 1
Payments Withdrawals Payments Withdrawals Payments Payments
1990 II 1,572 3,295 917 263
1991 I 1,738 3,369 944 79 283
II 2,110 3,741 1,125 166 305
1992 I 2,340 3,788 1,170 159 322
II 2,714 4,065 1,301 211 354
1993 I 2,918 5,290 1,210 223 377
II 3,418 5,592 1,294 253 392
1994 I 3,515 5,885 1,292 268 409
II 3,867 6,701 1,480 364 424
1995 I 4,011 6,666 1,485 352 446
II 4,569 7,186 1,609 404 469 2
1996 I 4,789 7,179 1,641 399 511 2
II 5,340 7,767 1,820 464 548 5
1997 I 5,446 7,536 1,812 464 578 15
II 6,133 8,205 2,075 486 617 25
1998 I 6,584 7,499 2,107 446 620 52
II 7,600 8,475 2,320 503 620 62
1999 I 7,708 8,342 2,326 490 651 81
II 8,864 9,199 2,591 521 708 90
2000 I 9,058 9,666 2,676 494 751 96
II 10,201 10,729 2,857 526 817 99
2001 I 10,316 10,781 3,272 606 817 113
II 11,350 10,834 3,338 708 813 154
2002 I 11,981 11,478 2,951 713 881 366
II 13,027 11,550 3,115 842 916 303
1 Proton cards
38 Statistical bulletin of the National Bank of Belgium (2003--IV)
5.3.7 PAYMENT CARDS - NUMBER OF CARDS AND TERMINALS
Cards issued (thousands) Terminals (in units) for
Cards with a debitfunction
Cards with a creditfunction
Company cards Prepaid cards 1 POS operations ATM operations operations withprepaid cards 1
1990 II 5,250 1,235 688 28,253 939
1991 I 5,110 1,447 724 29,540 981
II 5,466 1,501 767 32,199 1,052
1992 I 5,773 1,680 851 35,363 1,068
II 6,101 1,806 913 40,627 1,096
1993 I 6,155 1,935 960 46,524 1,131
II 6,434 1,997 1,002 52,984 2,765
1994 I 6,486 2,060 1,044 58,460 3,976
II 6,780 2,132 1,089 63,765 3,170
1995 I 6,849 2,228 1,157 68,239 3,413
II 7,190 2,271 1,221 30 72,892 3,610 1,109
1996 I 7,334 2,377 1,308 50 77,333 3,906 1,861
II 8,141 2,450 1,379 761 81,331 4,207 6,743
1997 I 8,364 2,575 1,383 1,110 81,712 4,643 13,059
II 8,748 2,613 1,428 3,430 85,727 5,003 21,403
1998 I 8,837 2,684 1,491 4,955 88,856 5,352 37,620
II 9,277 2,737 1,564 5,606 93,061 5,732 45,649
1999 I 9,762 2,824 1,630 6,888 96,539 5,979 54,669
II 10,492 2,883 1,591 7,898 99,624 6,199 63,993
2000 I 10,568 2,919 1,481 7,977 111,768 6,740 69,970
II 10,960 2,970 1,507 8,396 116,436 6,732 67,837
2001 I 11,159 3,025 1,518 8,835 144,309 7,543 74,877
II 10,942 3,045 1,565 8,543 144,421 7,435 88,847
2002 I 11,456 3,074 1,569 137,746 6,990 111,060
II 11,863 3,039 1,633 135,743 6,985 113,298
1 Proton cards
39Statistical bulletin of the National Bank of Belgium (2003--IV)
6 CHAPTER 6: INCOMES6.1 COMPENSATION OF EMPLOYEES
Collectively agreed wages (indices year 1997 = 100) 1
Manual workers Non-manual workers
Overall index of wich: Overall index of wich:Overall index
Manufacturing indu-stries
Overall index
Manufacturing indu-stries
1993 92.5 92.6 92.6 92.2
1994 95.0 95.0 95.2 94.8
1995 96.7 96.8 96.8 96.7
1996 98.2 98.2 98.4 98.4
1997 100.0 100.0 100.0 100.0
1998 102.1 102.1 101.7 101.9
1999 104.3 104.4 103.1 103.4
2000 107.1 107.1 105.6 106.9
2001 110.8 111.1 108.5 110.2
2002 115.4 115.6 112.7 114.2
2002 September 116.6 116.9 113.3 115.1
December 116.9 117.0 113.4 115.2
2003 March 117.4 117.4 113.8 115.9
June 118.2 118.1 114.8 116.6
September 119.1 119.0 115.4 117.2
Source: MEL
1 Quarterly data: end of period; annual data: average of the twelve months, calculated as follows: for Januari and Februari, we take the indexof December of the previous year, the indices of March, June and September count respectively also for the two following months, for Decem-ber, the index is known. The collectively agreed wage of manual workers is hourly and that of non-manual workers is monthly.
40 Statistical bulletin of the National Bank of Belgium (2003--IV)
7 CHAPTER 7: INDEX PRICES7.1 RAW MATERIALS
(indices year 2000 = 100)
Daily averages Price indices for raw materials , General index figureDaily averagesIncludingenergy
Excludingenergy
Raw ma-terials forfood
Cereals Oilseeds,oils
Alcohol,tobaccoand sugar
Industrialmaterials
Agricultur-al mate-rials
Non-fer-rous me-tals
Iron ore,scrap iron
Energymaterials
Coal Crude pe-troleum
Weighting 9.95 2.07 1.95 5.93 29.53 16.9 8.95 3.69 60.52 5.03 55.48 100.0 39.48
1996 92.3 125.7 155.9 172.4 149.0 150.2 112.5 118.3 105.8 113.1 76.1 142.2 71.1
1997 90.3 125.8 159.2 135.0 151.4 183.2 111.1 112.9 108.3 113.3 73.1 135.2 68.4
1998 69.7 106.5 133.3 116.9 118.7 157.6 94.7 97.0 86.4 110.2 51.9 113.9 47.2
1999 76.2 96.4 107.7 102.8 97.1 120.5 91.5 94.5 87.0 94.5 66.5 99.8 64.0
2000 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
2001 89.5 90.0 92.7 99.8 93.7 86.9 88.8 85.8 88.4 99.2 89.3 125.2 86.6
2002 90.2 92.5 103.9 112.2 103.4 98.3 87.6 85.3 84.8 101.9 89.0 102.9 88.0
2003 103.1 105.6 112.3 113.1 122.8 102.6 102.6 103.7 94.8 120.1 101.8 107.9 101.4
2001 IV 76.4 84.2 90.4 97.9 91.6 84.1 81.5 77.2 80.0 98.3 72.6 118.8 69.1
2002 I 80.2 87.0 93.3 98.9 91.9 90.6 84.3 79.5 85.3 95.8 76.8 110.4 74.3
II 90.4 90.1 97.1 99.8 99.4 93.0 87.0 83.1 85.9 101.6 90.5 107.2 89.3
III 95.0 95.4 111.0 124.4 112.7 100.0 88.6 88.3 82.7 105.0 94.9 94.6 94.9
IV 95.0 97.6 114.1 125.8 109.6 109.6 90.4 90.1 85.2 105.1 93.8 99.4 93.4
2003 I 106.9 102.6 113.3 114.3 111.6 114.1 98.0 98.1 90.0 119.3 108.9 101.2 109.5
II 96.4 103.1 111.0 112.5 120.0 101.9 99.7 103.1 89.0 118.0 93.1 97.7 92.8
III 101.4 103.3 107.2 109.3 115.1 98.8 101.6 102.7 94.4 117.5 100.4 106.2 100.0
IV 107.7 113.6 118.3 116.8 145.5 95.5 111.5 111.3 106.3 126.0 104.9 127.2 103.2
2002 Dec. 97.1 97.9 112.6 119.9 110.5 109.2 91.5 90.9 86.9 105.7 96.7 101.5 96.3
2003 Jan. 104.9 100.9 113.7 114.9 110.8 115.3 95.4 94.6 88.6 115.6 106.8 101.9 107.1
Feb. 110.9 103.9 115.9 115.5 112.4 119.2 98.7 97.9 91.6 120.3 114.3 101.7 115.2
March 104.8 103.1 110.3 112.5 111.5 107.8 99.9 101.7 89.7 121.9 105.7 100.1 106.1
April 94.1 102.5 111.3 111.4 116.2 106.8 98.6 102.3 85.9 121.7 90.1 97.4 89.5
May 95.8 104.3 113.4 115.3 122.5 104.2 100.3 103.5 89.8 118.9 91.6 96.5 91.3
June 99.3 102.6 108.2 110.8 121.3 94.8 100.2 103.6 91.4 113.4 97.7 99.2 97.6
July 101.1 101.7 104.8 103.7 113.9 97.5 100.4 102.3 93.1 114.0 100.8 102.2 100.7
Aug. 104.0 102.8 106.0 111.1 110.7 98.3 101.4 101.6 95.1 117.5 104.6 105.3 104.6
Sep. 99.0 105.4 110.9 113.0 120.8 100.6 103.0 104.3 94.9 120.9 95.9 111.1 94.7
Oct. 105.4 110.9 115.0 111.2 141.1 94.9 109.1 110.8 101.2 125.1 102.7 114.9 101.8
Nov. 107.1 113.5 118.4 117.6 147.4 93.6 111.4 112.1 105.6 124.7 104.0 124.5 102.5
Dec. 110.7 116.3 121.4 121.7 148.0 98.0 114.1 111.1 112.2 128.2 107.9 142.2 105.3
Source: IWH
41Statistical bulletin of the National Bank of Belgium (2003--IV)
7.2 PRICE INDICES FOR PRODUCTION AND IMPORT AND THEIR COMPONENTS
(indices year 2000 = 100)
Monthly averages or months Production and import index prices and their components (2000 = 100)Monthly averages or monthsPrices of agriculturaland horticultural pro-ducts 1
Industrial productionprices, domestic mar-ket
Unit value of importedproducts 2
Production and importprices
1995 102.3 91.4 82.8 87.2
1996 105.0 91.9 85.4 88.9
1997 105.9 93.4 90.1 92.2
1998 98.9 92.3 88.2 90.4
1999 94.1 91.9 89.1 90.5
2000 100.1 100.0 100.0 100.0
2001 106.3 100.9 102.5 102.0
2002 99.7 102.3 100.6 101.2
2001 III 103.5 100.8 103.2 102.2
IV 103.0 100.6 99.5 100.1
2002 I 105.3 101.5 100.6 101.2
II 100.4 102.1 100.4 101.1
III 96.8 102.5 100.6 101.1
IV 96.4 102.9 100.8 101.3
2003 I 99.2 103.0 99.8 101.1
II 99.2 103.5 96.8 99.6
III 91.3 102.3 97.4 99.1
2002 November 95.2 102.8 99.6 100.6
December 95.9 103.1 101.5 101.8
2003 January 98.8 102.5 99.4 100.6
February 100.3 102.9 100.2 101.3
March 98.5 103.6 99.9 101.3
April 98.7 104.0 98.3 100.6
May 99.3 103.5 94.3 98.2
June 99.7 103.1 97.7 99.9
July 91.7 102.4 94.5 97.5
August 90.9 102.2 97.6 99.1
September 91.4 102.4 100.2 100.6
October 102.6
November 102.8
Sources: IEA, NIS, NBB
1 Prices of agricultural and horticultural products: new referencebasket
2 Revision of indices from Januari 93: new calculation of indicesof unit value (methodology: Statistics of foreign trade, Belgium,1998-04, National Account Institute).
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7.3 OUTPUT PRICE INDICES - SUMMARY TABLE
(indices year 2000 = 100)
Monthly averages ormonths
General index fi-gure
General indexfigure, except
Indices according to type of industry Indices according to the utilisation of the productsMonthly averages ormonths
General index fi-gure
General indexfigure, exceptenergy Products of ex-
tractive indu-Products of proc-essing industries
Production andsupply of elec-
Manufacture ofmetal products,
Intermediate pro-ducts
Intermediateproducts, except
Consumer goodsenergy Products of ex-tractive indu-stries
Products of proc-essing industries(including oilproducts)
Production andsupply of elec-tricity, gas andwater
Manufacture ofmetal products,machinery andequipment
Intermediate pro-ducts
Intermediateproducts, exceptenergy Durable consumer goods Investment
goodsTotalstries (including oil
products)tricity, gas andwater
machinery andequipment
energy
Non-durableconsumer goods
Total
Investmentgoods
Total
2001 100.4 99.7 104.2 99.5 105.1 100.5 101.0 99.9 99.3 96.9 100.3 99.1
2002 100.8 99.4 106.6 99.2 109.1 100.0 101.4 98.8 99.9 97.5 100.2 99.6
2001 III 100.4 99.6 104.4 99.3 105.6 100.6 100.9 99.5 99.3 97.3 100.4 99.1
IV 99.7 98.7 104.7 98.3 106.6 100.4 99.9 98.0 98.7 96.7 100.5 98.5
2002 I 99.9 98.5 106.6 98.1 109.5 100.3 100.4 97.6 98.8 97.0 100.2 98.6
II 100.9 99.5 106.6 99.3 109.1 99.6 101.7 99.3 99.8 97.3 100.0 99.6
III 101.1 99.8 106.6 99.5 109.0 99.7 101.6 99.2 100.5 97.5 100.3 100.2
IV 101.3 99.9 106.6 99.8 109.0 100.4 101.9 99.1 100.4 98.1 100.4 100.0
2003 I 100.3 99.0 105.1 98.8 109.0 100.0 101.7 98.6 99.7 95.3 100.4 97.9
II 100.5 99.2 106.4 99.0 109.1 99.8 101.9 97.9 100.1 95.1 100.7 97.9
III 99.7 98.3 106.4 98.1 109.2 99.6 100.9 97.3 99.6 94.8 100.0 97.3
2002 Nov. 101.1 99.8 106.6 99.6 109.0 100.1 101.7 99.0 100.3 97.8 100.4 100.1
Dec. 101.3 99.9 106.6 99.8 109.0 100.7 101.8 99.0 100.3 98.7 100.5 99.9
2003 Jan. 100.0 98.6 104.5 98.5 109.0 99.8 101.3 98.2 99.5 95.2 100.0 97.5
Feb. 100.2 98.9 104.5 98.7 108.9 100.0 101.4 98.6 100.0 95.4 100.1 98.0
March 100.8 99.4 106.4 99.2 109.2 100.0 102.2 98.9 99.5 95.4 101.0 98.1
April 101.0 99.7 106.4 99.5 109.1 100.0 102.6 98.2 100.1 95.3 101.4 98.2
May 100.4 99.0 106.3 98.8 109.1 99.9 101.8 97.7 100.1 95.1 100.6 97.7
June 100.2 98.8 106.4 98.6 109.1 99.7 101.4 97.8 100.1 94.9 100.2 97.8
July 99.6 98.2 106.4 98.0 109.2 99.4 101.0 97.4 99.0 94.8 99.7 96.8
Aug. 99.6 98.2 106.4 98.0 109.2 99.7 100.8 97.1 99.4 94.8 100.1 97.2
Sep. 99.9 98.5 106.4 98.3 109.2 99.8 101.0 97.3 100.4 94.8 100.2 97.9
Oct. 100.4 99.0 106.4 98.8 109.2 99.8 101.9 98.3 99.6 94.8 100.2 97.3
Nov. 100.7 99.4 106.4 99.2 109.2 99.9 102.6 99.0 99.5 94.6 100.5 97.2
Source: NIS
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7.4 CONSUMER PRICES IN BELGIUM
(indices year 1996 = 100)
Monthly aver-ages
Health in-dex
Overall in-dex 1
Functional classification Classification by product groupMonthly aver-agesor months
Health in-dex
Overall in-dex 1
Food pro-ducts
Non-foodproducts
Services Rents Food prod-ucts andbeverages
Tobacco Clothingand foot-wear
Housing,water,electricity,gas andother fuels
Furnish-ing, houseequip-ment, cur-rent main-tenance ofhouse
Health ex-penses
Transport Communi-cations
Cultureand leisure
Education Hotels,café andrestaurant
Othergoods andservices
Weighting 100,000 21,431 44,433 28,608 5,528 21,431 1,322 8,198 14,655 8,606 3,962 13,802 2,227 11,725 0,425 6,625 7,022
1998 102.57 102.60 104.08 101.04 103.85 102.86 104.08 107.68 101.80 102.11 101.28 105.25 101.51 103.72 101.46 104.05 103.67 101.77
1999 103.54 103.75 104.29 102.30 105.48 104.34 104.29 111.09 102.71 103.88 102.70 106.21 104.50 97.95 101.73 106.72 105.71 103.40
2000 105.49 106.39 105.19 106.26 107.60 105.85 105.19 113.88 103.33 109.67 103.56 106.83 111.57 95.99 103.13 108.45 107.91 105.60
2001 108.38 109.02 109.64 108.07 110.24 107.87 109.64 118.08 104.25 112.76 106.41 108.04 113.04 89.93 106.25 110.69 110.45 108.26
2002 110.32 110.81 112.05 108.72 113.18 110.52 112.05 122.22 105.55 113.42 108.36 109.80 114.20 90.23 106.76 114.07 115.29 111.36
2003 111.92 112.57 114.33 110.01 115.16 112.97 114.33 132.63 106.67 114.64 109.54 112.41 116.01 91.35 106.00 115.63 119.22 114.27
2001 IV 109.29 109.67 110.76 107.99 111.69 108.55 110.76 120.12 104.85 112.65 107.34 108.35 112.28 90.04 107.83 113.59 111.91 109.27
2002 I 110.12 110.44 112.05 108.04 113.09 109.62 112.05 120.25 105.03 112.67 107.66 109.40 112.65 90.08 109.24 113.60 113.02 110.73
II 110.18 110.73 112.35 108.68 112.78 110.33 112.35 121.31 105.42 113.21 108.19 109.64 114.61 90.16 105.99 113.60 114.85 111.29
III 110.48 111.02 111.94 108.88 113.70 110.85 111.94 123.62 105.57 113.87 108.60 109.84 114.52 90.14 106.47 113.60 116.91 111.56
IV 110.48 111.05 111.85 109.30 113.13 111.29 111.85 123.71 106.17 113.92 109.02 110.33 115.01 90.53 105.32 115.50 116.38 111.84
2003 I 111.44 112.17 113.13 110.49 114.05 112.19 113.13 127.32 106.28 115.60 109.17 111.97 116.37 90.97 105.96 115.50 117.31 113.64
II 111.72 112.26 114.53 109.33 114.98 112.84 114.53 132.02 106.52 113.71 109.45 112.16 115.08 90.94 105.82 115.50 119.11 114.04
III 112.24 112.90 115.33 109.92 115.65 113.27 115.33 135.49 106.67 114.40 109.66 112.35 116.14 90.90 105.96 115.50 120.44 114.60
IV 112.28 112.97 114.35 110.29 115.96 113.60 114.35 135.71 107.20 114.83 109.89 113.18 116.46 92.61 106.28 116.02 120.05 114.81
2002 Dec. 110.55 111.06 111.41 109.18 113.65 111.43 111.41 123.72 106.23 113.77 109.09 110.50 114.68 90.97 106.28 115.50 116.74 111.94
2003 Jan. 110.94 111.55 112.61 109.71 113.55 111.87 112.61 123.96 106.24 114.53 109.09 111.89 115.42 90.97 105.08 115.50 116.68 113.41
Feb. 111.56 112.32 113.14 110.68 114.28 112.22 113.14 128.25 106.25 115.56 109.17 112.10 116.58 90.97 106.81 115.50 117.45 113.70
March 111.82 112.64 113.65 111.09 114.31 112.47 113.65 129.74 106.35 116.72 109.26 111.92 117.12 90.97 105.99 115.50 117.80 113.80
April 111.73 112.36 114.26 109.64 115.09 112.64 114.26 130.03 106.48 114.02 109.32 112.15 115.87 90.95 106.16 115.50 119.37 113.88
May 111.57 112.04 114.40 109.08 114.73 112.84 114.40 131.60 106.52 113.36 109.45 112.16 114.52 90.95 105.49 115.50 118.90 114.03
June 111.85 112.37 114.93 109.27 115.13 113.03 114.93 134.44 106.55 113.75 109.59 112.17 114.84 90.93 105.81 115.50 119.05 114.21
July 112.06 112.59 114.86 109.41 115.74 113.09 114.86 135.29 106.55 113.96 109.60 112.32 115.15 90.90 106.15 115.50 120.46 114.44
Aug. 112.20 112.89 114.95 109.99 115.78 113.27 114.95 135.56 106.56 114.67 109.63 112.38 116.39 90.90 105.70 115.50 120.99 114.59
Sep. 112.47 113.22 116.17 110.35 115.42 113.44 116.17 135.63 106.89 114.58 109.75 112.34 116.87 90.89 106.02 115.50 119.86 114.76
Oct. 112.15 112.85 114.60 110.25 115.44 113.51 114.60 135.68 107.09 114.74 109.79 113.14 116.45 90.88 105.42 116.02 120.18 114.71
Nov. 112.36 113.06 114.62 110.33 116.00 113.66 114.62 135.71 107.24 114.97 109.86 113.18 116.47 93.47 106.37 116.02 119.81 114.76
Dec. 112.32 112.99 113.82 110.29 116.44 113.62 113.82 135.73 107.28 114.79 110.03 113.21 116.45 93.47 107.05 116.02 120.15 114.96
Source: FPS Economy, SMEs, Self-employed and Energy
1 To convert to indices in base 1988=100, we must use the next coefficients: 1.2273 for general index and 1.2057 for health index. For functional classification: 1.1184 for the food products, 1.2134 for the non-food products, 1.2792 for services and 1.3453 for rents. For theclassification by groups of products: 1.1184 for the food products, 1.6720 for tobacco, 1.2058 for clothes and shoes, 1.2922 for housing, water, electricity, 1.1570 for furniture, household equipment, 1.3333 for health expenditure, 1.2784 for transport, 1.1862 for communication,1.1426 for leisure and culture, 1.2682 for other goods and services.
44 Statistical bulletin of the National Bank of Belgium (2003--IV)
8 CHAPTER 8: FOREIGN TRADE OF BELGIUM8.1 FOREIGN TRADE OF BELGIUM: MONTHLY MOVEMENT
(millions of euro)
Exports Imports Trade balance
Total Intra-EU 1 Extra-EU Total Intra-EU 1 Extra-EU Total Intra-EU 1 Extra-EU
2000 Jan. 14,467.0 11,003.5 3,463.5 13,532.7 9,385.9 4,146.8 934.3 1,617.6 --683.3
Feb. 16,202.8 12,236.5 3,966.3 15,453.7 10,913.0 4,540.8 749.1 1,323.6 --574.5
March 18,720.8 13,972.7 4,748.1 17,355.0 12,249.8 5,105.3 1,365.8 1,723.0 --357.2
April 15,567.8 11,834.8 3,733.0 14,442.3 9,978.9 4,463.4 1,125.5 1,855.9 --730.4
May 18,173.4 13,377.5 4,795.9 17,050.6 11,353.4 5,697.2 1,122.9 2,024.1 --901.3
June 16,860.3 12,823.0 4,037.4 15,592.7 10,816.2 4,776.5 1,267.7 2,006.8 --739.2
July 16,010.1 11,533.3 4,476.8 14,411.0 9,713.8 4,697.3 1,599.1 1,819.5 --220.5
Aug. 14,508.7 10,899.2 3,609.5 15,116.9 10,073.9 5,042.9 --608.1 825.3 --1,433.4
Sep. 18,813.4 13,860.7 4,952.7 16,771.1 11,567.5 5,203.6 2,042.3 2,293.2 --250.9
Oct. 19,272.7 14,274.9 4,997.8 17,494.5 11,727.4 5,767.1 1,778.2 2,547.5 --769.3
Nov. 18,333.6 13,456.3 4,877.3 18,274.9 12,388.0 5,887.0 58.6 1,068.3 --1,009.7
Dec. 17,022.6 12,540.6 4,482.0 16,699.6 11,785.3 4,914.3 323.0 755.3 --432.3
2001 Jan. 17,703.9 13,531.7 4,172.2 17,326.9 11,945.9 5,381.0 376.9 1,585.8 --1,208.9
Feb. 17,647.7 13,225.8 4,422.0 16,960.2 11,928.6 5,031.5 687.5 1,297.1 --609.6
March 19,992.4 15,183.7 4,808.7 18,434.2 12,889.3 5,544.9 1,558.2 2,294.4 --736.2
April 16,916.8 12,811.3 4,105.5 16,388.0 11,319.0 5,069.0 528.8 1,492.4 --963.5
May 18,257.7 13,774.8 4,482.9 17,583.5 12,010.3 5,573.2 674.2 1,764.5 --1,090.3
June 18,646.1 14,053.5 4,592.5 17,191.7 11,921.8 5,269.9 1,454.3 2,131.7 --677.4
July 17,339.8 12,619.0 4,720.8 15,476.0 10,348.1 5,127.9 1,863.8 2,271.0 --407.1
Aug. 15,138.9 11,624.6 3,514.3 14,722.3 9,891.0 4,831.3 416.6 1,733.6 --1,317.0
Sep. 17,791.1 13,665.7 4,125.4 16,041.3 11,587.5 4,453.8 1,749.8 2,078.1 --328.4
Oct. 18,715.7 14,157.1 4,558.5 16,816.1 11,645.4 5,170.7 1,899.5 2,511.7 --612.2
Nov. 17,816.4 13,274.3 4,542.1 16,476.7 11,366.3 5,110.4 1,339.8 1,908.0 --568.3
Dec. 16,572.2 12,340.7 4,231.6 16,074.8 11,773.7 4,301.1 497.4 567.0 --69.6
2002 Jan. 18,114.7 13,338.6 4,776.1 16,852.3 11,886.2 4,966.0 1,262.4 1,452.4 --189.9
Feb. 18,065.6 13,187.2 4,878.4 16,835.8 12,109.5 4,726.2 1,229.8 1,077.7 152.2
March 20,359.4 15,160.8 5,198.6 18,852.3 13,689.4 5,162.9 1,507.0 1,471.4 35.6
April 19,129.4 13,957.6 5,171.8 17,652.7 12,401.8 5,250.9 1,476.7 1,555.8 --79.1
May 19,424.8 13,858.0 5,566.8 17,651.0 12,127.3 5,523.8 1,773.8 1,730.8 43.0
June 19,393.0 14,150.2 5,242.8 17,641.6 12,447.4 5,194.1 1,751.4 1,702.8 48.6
July 18,869.8 13,429.9 5,439.9 16,637.1 11,731.5 4,905.6 2,232.7 1,698.4 534.3
Aug. 16,012.0 11,854.5 4,157.5 15,557.7 10,813.3 4,744.4 454.3 1,041.2 --586.9
Sep. 20,572.8 15,381.5 5,191.3 18,291.1 13,243.0 5,048.1 2,281.7 2,138.4 143.3
Oct. 21,448.8 15,467.9 5,980.9 19,314.7 13,396.3 5,918.4 2,134.1 2,071.7 62.5
Nov. 19,146.3 13,824.8 5,321.6 17,898.6 12,789.3 5,109.3 1,247.8 1,035.5 212.3
Dec. 18,046.5 12,936.7 5,109.8 17,887.4 12,870.2 5,017.2 159.1 66.5 92.6
2003 Jan. p 18,310.5 13,349.1 4,961.4 17,006.0 11,780.8 5,225.2 1,304.6 1,568.4 --263.8
Feb. p 18,296.6 13,631.3 4,665.2 17,296.5 12,485.4 4,811.0 1,000.1 1,145.9 --145.8
March p 20,230.5 15,528.9 4,701.6 18,422.4 13,260.2 5,162.2 1,808.1 2,268.7 --460.5
April p 19,037.1 14,139.6 4,897.5 17,370.0 12,148.1 5,221.9 1,667.1 1,991.5 --324.4
May p 18,402.1 14,001.5 4,400.6 16,432.2 11,506.7 4,925.5 1,969.9 2,494.8 --524.9
June p 19,454.5 14,657.6 4,796.8 17,117.1 12,239.2 4,878.0 2,337.3 2,418.5 --81.1
July p 18,186.1 13,414.1 4,772.0 16,146.7 11,219.6 4,927.2 2,039.4 2,194.5 --155.2
Aug. p 14,908.4 10,986.4 3,922.0 14,331.1 10,116.6 4,214.5 577.3 869.8 --292.5
Sep. p 20,597.8 15,368.3 5,229.5 17,560.2 12,808.1 4,752.1 3,037.6 2,560.1 477.4
Sources: 1994: NSI; since 1995: NAI- adjusted data
1 Intra-EU: Member states of the EU as at 1.1.1995; for the 1994 data including Austria, Sweden and Finland.Bibliographical references: Statistical Bulletin of the National Bank of Belgium, 1996-I, p. 7-13. ”Régionalisation des statistiques du commerce extérieur de la Belgique”, Bulletin trimestriel desrésultats régionaux des statistiques des exportations belges, 1993-1995 (numéro spécial), ICN, Bruxelles, December 1996, pp. 6-14.
”Nouvelles estimations des statistiques du Commerce extérieur”, Bulletin mensuel des statistiques du Commerce extérieur de l’UEBL, 1995 - résultats définitifs, ICN, Bruxelles, October 1997,pp. 6-14.
”Tableau de passage des résultats UEBL selon la définition nationale aux résultats de la Belgique selon la définition communautaire”, Bulletin mensuel des statistiques du Commerce extérieurde la Belgique, 1998-01, ICN, Bruxelles, April 1998, pp. 5-6.
”Changes in chapter 8: ’Foreign Trade statistics’”, Statistical bulletin of the National Bank of Belgium, 1998-III, pp. 11-19.
”Nouveaux indices du Commerce extérieur”, Bulletin mensuel des statistiques du Commerce extérieur de la Belgique, 1998-04, ICN, Bruxelles, July 1998, pp. 5-8.
45Statistical bulletin of the National Bank of Belgium (2003--IV)
8.2 FOREIGN TRADE OF BELGIUM: CUMULATIVE MOVEMENT
(millions of euro)
Exports Imports Trade balance
Total Intra-EU 1 Extra-EU Total Intra-EU 1 Extra-EU Total Intra-EU 1 Extra-EU
2000 Jan. 14,467.0 11,003.5 3,463.5 13,532.7 9,385.9 4,146.8 934.3 1,617.6 --683.3
Jan.-Feb. 30,669.8 23,240.0 7,429.8 28,986.4 20,298.9 8,687.6 1,683.4 2,941.2 --1,257.8
Jan.-March 49,390.6 37,212.7 12,177.9 46,341.4 32,548.7 13,792.9 3,049.2 4,664.2 --1,615.0
Jan.-April 64,958.4 49,047.5 15,910.9 60,783.7 42,527.6 18,256.3 4,174.7 6,520.1 --2,345.4
Jan.-May 83,131.8 62,425.0 20,706.8 77,834.3 53,881.0 23,953.5 5,297.6 8,544.2 --3,246.7
Jan.-June 99,992.1 75,248.0 24,744.2 93,427.0 64,697.2 28,730.0 6,565.3 10,551.0 --3,985.9
Jan.-July 116,002.2 86,781.3 29,221.0 107,838.0 74,411.0 33,427.3 8,164.4 12,370.5 --4,206.4
Jan.-Aug. 130,510.9 97,680.5 32,830.5 122,954.9 84,484.9 38,470.2 7,556.3 13,195.8 --5,639.8
Jan.-Sep. 149,324.3 111,541.2 37,783.2 139,726.0 96,052.4 43,673.8 9,598.6 15,489.0 --5,890.7
Jan.-Oct. 168,597.0 125,816.1 42,781.0 157,220.5 107,779.8 49,440.9 11,376.8 18,036.5 --6,660.0
Jan.-Nov. 186,930.6 139,272.4 47,658.3 175,495.4 120,167.8 55,327.9 11,435.4 19,104.8 --7,669.7
Jan.-Dec. 203,953.2 151,813.0 52,140.3 192,195.0 131,953.1 60,242.2 11,758.4 19,860.1 --8,102.0
2001 Jan. 17,703.9 13,531.7 4,172.2 17,326.9 11,945.9 5,381.0 376.9 1,585.8 --1,208.9
Jan.-Feb. 35,351.6 26,757.5 8,594.2 34,287.1 23,874.5 10,412.5 1,064.4 2,882.9 --1,818.5
Jan.-March 55,344.0 41,941.2 13,402.9 52,721.3 36,763.8 15,957.4 2,622.6 5,177.3 --2,554.7
Jan.-April 72,260.8 54,752.5 17,508.4 69,109.3 48,082.8 21,026.4 3,151.4 6,669.7 --3,518.2
Jan.-May 90,518.5 68,527.3 21,991.3 86,692.8 60,093.1 26,599.6 3,825.6 8,434.2 --4,608.5
Jan.-June 109,164.6 82,580.8 26,583.8 103,884.5 72,014.9 31,869.5 5,279.9 10,565.9 --5,285.9
Jan.-July 126,504.4 95,199.8 31,304.6 119,360.5 82,363.0 36,997.4 7,143.7 12,836.9 --5,693.0
Jan.-Aug. 141,643.3 106,824.4 34,818.9 134,082.8 92,254.0 41,828.7 7,560.3 14,570.5 --7,010.0
Jan.-Sep. 159,434.4 120,490.1 38,944.3 150,124.1 103,841.5 46,282.5 9,310.1 16,648.6 --7,338.4
Jan.-Oct. 178,150.1 134,647.2 43,502.8 166,940.2 115,486.9 51,453.2 11,209.6 19,160.3 --7,950.6
Jan.-Nov. 195,966.5 147,921.5 48,044.9 183,416.9 126,853.2 56,563.6 12,549.4 21,068.3 --8,518.9
Jan.-Dec. 212,538.7 160,262.2 52,276.5 199,491.7 138,626.9 60,864.7 13,046.8 21,635.3 --8,588.5
2002 Jan. 18,114.7 13,338.6 4,776.1 16,852.3 11,886.2 4,966.0 1,262.4 1,452.4 --189.9
Jan.-Feb. 36,180.3 26,525.8 9,654.5 33,688.1 23,995.7 9,692.2 2,492.2 2,530.1 --37.7
Jan.-March 56,539.7 41,686.6 14,853.1 52,540.4 37,685.1 14,855.1 3,999.2 4,001.5 --2.1
Jan.-April 75,669.1 55,644.2 20,024.9 70,193.1 50,086.9 20,106.0 5,475.9 5,557.3 --81.2
Jan.-May 95,093.9 69,502.2 25,591.7 87,844.1 62,214.2 25,629.8 7,249.7 7,288.1 --38.2
Jan.-June 114,486.9 83,652.4 30,834.5 105,485.7 74,661.6 30,823.9 9,001.1 8,990.9 10.4
Jan.-July 133,356.7 97,082.3 36,274.4 122,122.8 86,393.1 35,729.5 11,233.8 10,689.3 544.7
Jan.-Aug. 149,368.7 108,936.8 40,431.9 137,680.5 97,206.4 40,473.9 11,688.1 11,730.5 --42.2
Jan.-Sep. 169,941.5 124,318.3 45,623.2 155,971.6 110,449.4 45,522.0 13,969.8 13,868.9 101.1
Jan.-Oct. 191,390.3 139,786.2 51,604.1 175,286.3 123,845.7 51,440.4 16,103.9 15,940.6 163.6
Jan.-Nov. 210,536.6 153,611.0 56,925.7 193,184.9 136,635.0 56,549.7 17,351.7 16,976.1 375.9
Jan.-Dec. 228,583.1 166,547.7 62,035.5 211,072.3 149,505.2 61,566.9 17,510.8 17,042.6 468.5
2003 Jan. p 18,310.5 13,349.1 4,961.4 17,006.0 11,780.8 5,225.2 1,304.6 1,568.4 --263.8
Jan.-Feb. p 36,607.1 26,980.4 9,626.6 34,302.5 24,266.2 10,036.2 2,304.7 2,714.3 --409.6
Jan.-March p 56,837.6 42,509.3 14,328.2 52,724.9 37,526.4 15,198.4 4,112.8 4,983.0 --870.1
Jan.-April p 75,874.7 56,648.9 19,225.7 70,094.9 49,674.5 20,420.3 5,779.9 6,974.5 --1,194.5
Jan.-May p 94,276.8 70,650.4 23,626.3 86,527.1 61,181.2 25,345.8 7,749.8 9,469.3 --1,719.4
Jan.-June p 113,731.3 85,308.0 28,423.1 103,644.2 73,420.4 30,223.8 10,087.1 11,887.8 --1,800.5
Jan.-July p 131,917.4 98,722.1 33,195.1 119,790.9 84,640.0 35,151.0 12,126.5 14,082.3 --1,955.7
Jan.-Aug. p 146,825.8 109,708.5 37,117.1 134,122.0 94,756.6 39,365.5 12,703.8 14,952.1 --2,248.2
Jan.-Sep. p 167,423.6 125,076.8 42,346.6 151,682.2 107,564.7 44,117.6 15,741.4 17,512.2 --1,770.8
Sources: 1994: NSI; since 1995: NAI- adjusted data
1 Intra-EU: Member states as at 1.1.1995; for the 1994 data including Austria, Sweden and Finland.
46 Statistical bulletin of the National Bank of Belgium (2003--IV)
8.3 FOREIGN TRADE OF BELGIUM: MONTHLY INDICES
(indices year 1993 = 100)
Values Quantities 1 Unit values Terms of trade 2
Exports Imports Exports Imports Exports Imports
Terms of trade
2000 January 161.0 165.7 138.2 136.4 116.5 121.5 95.9
February 180.3 189.2 154.0 153.9 117.1 122.9 95.3
March 208.4 212.5 176.7 170.5 117.9 124.6 94.6
April 173.3 176.8 146.5 141.2 118.3 125.3 94.4
May 202.3 208.8 167.6 164.1 120.7 127.2 94.9
June 187.7 190.9 155.7 150.1 120.5 127.2 94.8
July 178.2 176.4 146.8 138.3 121.4 127.6 95.1
August 161.5 185.1 132.5 142.0 121.9 130.3 93.5
September 209.4 205.3 167.1 155.5 125.3 132.0 94.9
October 214.5 214.2 169.8 160.5 126.3 133.5 94.6
November 204.1 223.8 163.5 164.6 124.8 135.9 91.8
December 189.5 204.5 151.0 152.8 125.5 133.8 93.8
2001 January 197.0 212.1 160.8 161.5 122.5 131.3 93.3
February 196.4 207.6 158.3 156.8 124.1 132.5 93.7
March 222.5 225.7 179.0 171.5 124.3 131.6 94.4
April 188.3 200.6 151.0 151.9 124.7 132.1 94.4
May 203.2 215.3 161.2 160.2 126.1 134.4 93.8
June 207.5 210.5 163.5 154.4 126.9 136.3 93.1
July 193.0 189.5 153.3 141.0 125.9 134.4 93.7
August 168.5 180.3 136.5 136.1 123.5 132.5 93.2
September 198.0 196.4 160.3 150.2 123.5 130.7 94.5
October 208.3 205.9 169.5 160.6 122.9 128.2 95.9
November 198.3 201.7 162.6 157.4 122.0 128.1 95.2
December 184.5 196.8 151.3 155.1 121.9 126.9 96.0
2002 January 201.6 206.3 165.3 161.4 122.0 127.9 95.4
February 201.1 206.1 161.1 159.6 124.8 129.2 96.6
March 226.6 230.8 183.7 175.9 123.4 131.2 94.0
April 212.9 216.2 171.5 167.6 124.2 128.9 96.3
May 216.2 216.1 174.4 167.6 124.0 129.0 96.1
June 215.8 216.0 177.0 168.9 121.9 127.9 95.3
July 210.0 203.7 170.8 160.8 123.0 126.7 97.1
August 178.2 190.5 145.3 148.5 122.6 128.2 95.6
September 229.0 224.0 186.3 173.2 122.9 129.3 95.0
October 238.7 236.5 193.2 183.6 123.6 128.8 95.9
November 213.1 219.2 174.8 172.8 121.9 126.8 96.1
December 200.9 219.0 166.1 170.1 120.9 128.7 93.9
2003 January p 203.8 208.2 166.6 165.0 122.3 126.2 96.9
February p 203.6 211.8 167.0 166.5 121.9 127.2 95.9
March p 225.2 225.6 185.5 177.7 121.4 126.9 95.7
April p 211.9 212.7 175.1 170.4 121.0 124.8 97.0
May p 204.8 201.2 174.7 168.4 117.3 119.5 98.1
June p 216.5 209.6 179.5 169.6 120.6 123.6 97.6
July p 202.4 197.7 174.2 164.8 116.2 119.9 96.9
August p 165.9 175.5 141.6 142.0 117.2 123.6 94.8
September p 229.3 215.0 190.8 169.8 120.2 126.7 94.9
Sources: 1994: NSI; since 1995: NAI- adjusted data Calculations: NAI
1 Quantity index number IQ = (value index number IV/index number of unit values IUV) x 1002 Terms of trade IT = [(IUVx/IUVm) x 100]
whereIT = terms of trade indexIUVx = index of unit export valuesIUVm = index of unit import values
47Statistical bulletin of the National Bank of Belgium (2003--IV)
8.4 FOREIGN TRADE OF BELGIUM: PERCENTAGE CHANGE, CUMULATIVE VALUES
(Percentage changes compared with the average of the previous year)
Values Quantities 1 Unit values
Exports Imports Exports Imports Exports Imports
2000 Jan. 3.3 5.0 --2.1 --1.3 5.5 6.4
Jan.-Feb. 9.5 12.5 3.5 5.1 5.8 7.0
Jan.-March 17.5 19.9 10.7 11.2 6.2 7.8
Jan.-April 15.9 17.9 8.9 8.9 6.4 8.2
Jan.-May 18.7 20.8 10.9 10.9 7.0 8.9
Jan.-June 19.0 20.8 10.8 10.5 7.4 9.3
Jan.-July 18.3 19.5 9.8 9.0 7.7 9.6
Jan.-Aug. 16.5 19.3 7.8 8.3 8.0 10.2
Jan.-Sep. 18.5 20.5 9.0 8.8 8.6 10.8
Jan.-Oct. 20.4 22.0 10.2 9.5 9.3 11.4
Jan.-Nov. 21.3 23.8 10.7 10.4 9.6 12.1
Jan.-Dec. 21.3 24.3 10.4 10.4 9.9 12.5
2001 Jan. 4.2 8.2 3.2 5.8 0.9 2.2
Jan.-Feb. 4.0 7.0 2.4 4.3 1.6 2.7
Jan.-March 8.5 9.7 6.5 7.0 1.9 2.6
Jan.-April 6.3 7.9 4.1 5.1 2.1 2.6
Jan.-May 6.5 8.3 4.0 5.1 2.5 3.0
Jan.-June 7.1 8.1 4.1 4.4 2.8 3.5
Jan.-July 6.3 6.5 3.3 2.7 2.9 3.7
Jan.-Aug. 4.2 4.7 1.3 1.0 2.8 3.6
Jan.-Sep. 4.2 4.2 1.5 0.7 2.7 3.4
Jan.-Oct. 4.8 4.2 2.2 1.2 2.5 3.0
Jan.-Nov. 4.8 4.1 2.4 1.3 2.4 2.7
Jan.-Dec. 4.2 3.8 2.0 1.3 2.2 2.4
2002 Jan. 2.3 1.4 4.0 4.3 --1.6 --2.8
Jan.-Feb. 2.1 1.3 2.7 3.8 --0.5 --2.3
Jan.-March 6.4 5.4 7.0 7.1 --0.5 --1.6
Jan.-April 6.8 5.6 7.2 7.4 --0.4 --1.7
Jan.-May 7.4 5.7 7.7 7.6 --0.3 --1.8
Jan.-June 7.7 5.8 8.3 7.9 --0.5 --2.0
Jan.-July 7.6 4.9 8.2 7.3 --0.6 --2.2
Jan.-Aug. 5.4 3.5 6.1 5.9 --0.6 --2.3
Jan.-Sep. 6.6 4.3 7.3 6.6 --0.7 --2.2
Jan.-Oct. 8.1 5.4 8.8 7.8 --0.6 --2.2
Jan.-Nov. 8.1 5.6 8.9 8.2 --0.8 --2.3
Jan.-Dec. 7.5 5.8 8.5 8.3 --0.9 --2.3
2003 Jan. p --3.9 --3.3 --3.4 --1.5 --0.5 --1.9
Jan.-Feb. p --3.9 --2.5 --3.3 --1.0 --0.7 --1.5
Jan.-March p --0.5 --0.1 0.3 1.4 --0.9 --1.4
Jan.-April p --0.4 --0.4 0.6 1.4 --1.0 --1.8
Jan.-May p --1.0 --1.6 0.8 1.2 --1.8 --2.8
Jan.-June p --0.5 --1.8 1.3 1.2 --1.8 --3.0
Jan.-July p --1.1 --2.7 1.3 0.9 --2.3 --3.5
Jan.-Aug. p --3.6 --4.7 --1.1 --1.2 --2.6 --3.6
Jan.-Sep. p --2.3 --4.2 0.2 --0.9 --2.5 --3.3
Sources: 1994: NSI; since 1995: NAI - adjusted data Calculation: NAI
1 DQ = {[(DV+100)/(DUV+100)] - 1} x 100whereDQ = percentage of variation in quantitiesDV = percentage of variation in valuesDUV = percentage of variation in unit values
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8.5 FOREIGN TRADE OF BELGIUM BY MAIN PARTNER COUNTRIES
(millions of euro)
2001 2002 2003
IV I II III IV I II
Exports Imports Exports Imports Exports Imports Exports Imports Exports Imports Exports p Imports p Exports p Imports p
Grand total 53,104.3 49,367.6 56,539.6 52,540.3 57,947.2 52,945.3 55,454.6 50,486.0 58,641.7 55,100.7 56,837.6 52,724.8 56,893.6 50,919.3European Union 39,772.1 34,785.4 41,686.6 37,685.2 41,965.9 36,976.5 40,665.9 35,787.9 42,229.4 39,055.7 42,509.3 37,526.4 42,798.7 35,893.9
Economic and Monetary Union 33,495.4 29,704.2 34,675.8 32,293.3 35,408.6 31,428.8 33,876.1 30,867.7 35,669.2 33,847.7 36,068.4 32,217.1 36,251.8 30,579.3France 9,042.5 6,772.0 9,176.9 6,734.6 9,421.1 6,475.4 9,024.0 6,043.1 9,660.6 7,166.8 10,036.0 7,135.0 9,999.9 6,683.7
Luxembourg 986.0 305.9 1,033.8 297.9 1,018.5 324.5 990.8 286.8 1,077.0 369.2 1,102.6 354.1 1,053.1 322.3
Netherlands 6,500.7 8,013.4 6,501.0 8,164.9 6,999.1 8,333.6 6,416.2 8,007.7 6,747.2 8,637.5 6,694.3 8,955.4 6,720.0 7,984.3
Germany 9,894.7 8,242.6 10,548.9 8,968.5 10,554.6 8,909.5 10,721.0 8,812.1 10,813.5 9,563.5 10,739.4 9,152.5 10,961.3 8,659.8
Italy 3,080.9 2,435.1 3,277.7 2,332.1 3,214.5 1,972.6 2,783.6 1,960.3 3,114.1 2,084.6 3,199.2 1,983.3 3,124.0 1,754.0
Ireland 398.1 1,699.8 427.9 3,632.7 449.3 3,310.1 405.6 3,900.2 500.7 3,892.5 411.3 2,468.0 470.8 3,074.1
Greece 341.2 72.1 343.5 74.6 361.3 64.5 353.6 78.8 359.2 58.2 361.5 72.3 368.0 48.1
Portugal 390.1 535.0 417.6 445.7 387.9 460.4 336.8 363.6 370.0 431.3 369.6 420.0 361.5 337.7
Spain 2,012.0 960.7 2,038.3 1,010.1 2,092.0 1,009.4 1,979.3 852.1 2,133.2 1,017.7 2,222.6 1,081.7 2,269.6 1,055.7
Finland 272.9 324.3 303.6 293.8 293.6 282.6 289.9 285.8 296.1 341.2 340.0 328.2 310.1 355.4
Austria 576.3 343.2 606.6 338.3 616.7 286.3 575.3 277.1 597.6 285.0 591.9 266.6 613.6 304.3
Other countries of the EuropeanUnion 6,276.6 5,081.2 7,010.8 5,391.9 6,557.3 5,547.7 6,789.8 4,920.2 6,560.2 5,208.0 6,440.9 5,309.4 6,546.9 5,314.7
United Kingdom 5,114.5 3,609.0 5,800.6 4,011.8 5,340.1 4,140.3 5,607.9 3,700.7 5,303.0 3,706.4 5,169.6 3,892.4 5,214.1 3,930.5
Denmark 415.2 223.0 431.6 226.3 437.2 231.3 424.2 237.6 431.3 243.2 456.7 271.1 485.3 251.4
Sweden 747.0 1,249.1 778.5 1,153.8 780.0 1,176.1 757.6 981.9 825.9 1,258.5 814.7 1,145.9 847.5 1,132.8
Other European countries 3,119.9 2,770.8 3,145.6 2,567.4 3,499.0 2,960.0 3,229.3 2,524.7 3,412.4 3,141.0 3,365.1 2,975.5 3,421.4 3,075.2Iceland 10.9 11.7 9.3 9.7 10.4 9.9 9.1 11.2 10.2 11.3 10.0 9.4 12.2 10.8
Norway 174.4 511.2 186.2 438.2 216.4 352.8 195.5 292.8 205.1 536.3 207.4 462.7 202.9 383.0
Switzerland 718.7 425.6 779.2 383.7 727.7 490.8 670.1 362.2 688.5 402.8 726.8 343.2 660.2 406.3
Malta 22.7 20.0 21.0 20.4 14.9 20.3 13.5 23.5 18.3 19.1 21.4 18.4 16.5 19.5
Turkey 311.9 241.6 357.1 229.6 416.9 268.7 418.0 250.2 452.2 261.2 463.6 294.7 450.7 303.3
Estonia 23.2 29.1 22.3 16.7 26.5 29.1 25.5 12.2 26.7 11.4 24.8 13.9 27.2 24.0
Latvia 27.4 11.7 19.1 9.3 26.5 11.7 24.0 9.2 31.4 14.3 22.2 8.3 21.5 15.9
Lithuania 43.9 30.6 39.1 23.4 52.2 28.7 42.1 27.4 47.7 32.0 42.3 32.3 47.5 37.4
Poland 443.9 287.1 465.9 296.9 516.0 294.7 482.8 303.0 483.8 353.3 467.9 310.5 491.0 330.8
Czech Republic 256.0 171.9 270.7 160.3 320.0 222.3 329.6 178.3 314.1 192.6 299.8 194.9 318.1 217.1
Slovakia 76.1 67.9 75.1 51.2 90.3 61.0 77.6 56.8 102.5 64.5 104.5 62.7 98.2 71.9
Hungary 208.3 290.8 231.6 323.7 336.7 414.9 237.5 248.9 247.9 424.9 260.7 366.4 321.0 353.7
Romania 111.1 86.0 78.1 68.3 99.0 64.8 106.6 80.1 96.8 80.9 96.5 72.2 107.1 93.3
Ukraine 81.4 24.0 79.8 22.0 73.5 38.0 72.4 22.2 82.3 73.9 73.5 32.5 71.8 28.6
Russian Federation 353.2 434.4 288.1 371.9 326.5 505.6 293.9 489.7 350.3 483.4 309.8 580.7 309.9 602.1
Slovenia 51.8 28.0 55.7 26.8 56.4 24.8 54.4 19.3 52.0 19.9 55.1 18.3 61.0 20.7
Cyprus 26.6 3.6 23.6 6.7 23.8 16.8 24.4 2.4 22.8 3.9 22.5 4.0 21.7 22.8
Other European countries 178.5 95.5 143.5 108.6 165.3 105.3 152.4 135.2 179.8 155.1 156.4 150.3 182.7 134.1
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8.5 FOREIGN TRADE OF BELGIUM BY MAIN PARTNER COUNTRIES (CONTINUED)
(millions of euro)
200320022001
IIIIVIIIIIIIV
Imports pExports pImports pExports pImportsExportsImportsExportsImportsExportsImportsExportsImportsExports
Africa 1,027.5 1,305.9 955.9 1,498.7 1,059.4 1,633.2 943.6 1,439.6 1,031.2 1,807.0 941.6 1,590.2 940.8 1,332.3Algeria 89.2 107.9 91.6 135.9 114.0 347.5 103.4 259.5 130.1 384.1 118.2 407.5 106.6 302.3
Tunisia 100.7 118.9 94.9 131.0 103.6 120.3 88.0 109.4 101.3 117.0 91.1 123.0 86.1 110.0
Liberia 2.0 0.7 1.0 0.7 1.2 0.2 0.8 0.0 1.5 0.0 2.1 0.8 1.5 0.5
Ivory Coast 23.8 39.7 26.0 46.3 20.5 43.4 34.6 37.5 15.9 113.3 18.4 78.0 22.9 82.6
Nigeria 77.5 12.3 67.1 13.4 75.9 17.0 51.3 19.5 65.0 21.7 52.5 23.7 50.5 21.6
Congo (Rep.) 18.7 1.8 16.1 1.3 18.0 1.2 15.3 1.6 15.7 4.3 11.9 1.2 12.2 8.5
Congo (Dem.Rep.) 35.4 222.4 27.3 245.0 34.4 270.4 33.2 253.6 32.4 290.7 27.1 210.9 35.1 153.6
Angola 35.3 147.9 33.6 132.3 37.8 127.0 35.9 129.1 42.5 137.0 36.0 82.1 33.6 31.0
South Africa 177.1 238.3 155.2 276.2 178.3 268.8 147.4 257.6 156.9 300.7 152.8 287.9 156.4 277.5
Other African countries 467.8 416.0 443.1 516.6 475.7 437.6 433.6 371.7 469.9 438.2 431.7 375.2 435.9 344.7
America 4,141.1 4,602.9 5,322.9 4,542.2 5,547.0 5,010.4 5,086.5 4,651.8 6,069.6 4,690.7 4,592.4 4,467.3 4,598.9 4,473.0United States of America 3,199.8 3,338.8 4,325.1 3,318.0 4,426.0 3,631.6 4,034.9 3,439.0 4,995.3 3,387.0 3,624.5 3,169.9 3,646.9 3,160.7
Canada 248.8 388.3 330.9 310.5 424.9 290.9 354.5 238.5 403.0 256.2 364.2 291.0 374.9 282.3
Mexico 174.9 125.5 210.7 112.5 224.1 158.5 206.3 141.7 197.8 159.5 197.7 119.2 150.5 147.5
Colombia 32.3 59.8 32.3 68.0 29.3 71.4 27.3 73.3 30.2 88.2 27.7 75.5 25.2 68.8
Venezuela 60.1 42.2 48.9 51.9 44.6 66.9 33.0 61.1 38.4 61.7 10.7 21.7 20.4 38.7
Brazil 221.7 343.8 184.2 362.1 202.1 462.0 245.3 400.2 234.1 435.4 190.4 477.2 214.8 410.9
Chile 32.0 32.7 27.1 34.3 28.6 38.7 29.6 33.1 38.7 35.7 35.5 35.1 23.1 37.8
Argentina 36.7 73.4 21.6 91.8 37.7 98.7 25.6 84.8 27.3 65.5 32.3 79.0 37.4 103.2
Other American countries 134.9 198.4 142.0 193.0 129.6 191.7 130.1 179.9 104.8 201.5 109.4 198.9 105.6 223.1
Asia 4,443.0 5,712.6 4,806.7 5,968.3 5,237.0 6,046.5 4,844.0 5,820.6 5,142.2 6,180.6 4,739.8 5,983.7 4,488.5 5,906.9Lebanon 73.6 8.9 70.3 10.4 62.0 9.7 72.2 8.8 69.7 6.7 49.3 9.6 54.4 6.6
Iran 80.1 5.0 84.0 4.6 77.9 7.1 85.6 6.5 93.1 5.7 115.3 7.1 100.0 5.2
Israel 751.9 452.0 813.2 570.8 859.5 628.9 676.4 444.0 735.2 573.0 575.7 406.4 481.6 417.9
Saudi Arabia 160.2 48.5 163.1 64.5 153.0 59.0 153.4 63.8 219.3 71.5 177.9 83.9 161.0 63.2
United Arab Emirates 237.8 98.9 208.0 99.5 256.6 100.1 231.0 96.9 280.9 151.5 184.3 135.6 203.4 206.5
Pakistan 28.1 42.4 33.0 47.7 39.1 49.1 45.2 60.9 51.3 47.7 47.4 51.8 42.8 48.3
India 717.6 378.9 1,007.7 509.1 1,140.8 451.1 1,005.0 447.6 929.8 369.5 1,018.3 494.8 950.9 409.8
Sri Lanka 38.2 52.9 48.8 56.1 51.7 58.5 46.0 69.0 44.8 60.1 46.1 54.8 40.9 54.4
Thailand 147.1 378.8 166.0 335.9 174.7 295.7 158.7 342.1 148.9 308.8 170.6 322.8 163.4 316.3
Viet Nam 28.6 113.8 24.7 139.2 26.1 121.2 23.5 126.4 31.4 109.2 25.5 133.6 24.7 121.1
Indonesia 54.4 203.5 62.5 235.5 54.2 285.0 53.7 258.6 53.1 252.1 56.4 236.8 57.3 257.6
Malaysia 64.5 177.7 64.3 145.5 74.2 167.2 77.5 122.8 65.3 150.9 67.4 129.1 63.5 156.8
Singapore 117.3 193.7 127.0 171.0 124.7 135.5 111.2 139.3 127.2 164.8 124.6 120.3 106.5 90.4
Philippines 36.6 104.1 35.3 67.0 37.2 58.1 45.7 38.6 44.6 86.7 42.2 44.1 42.2 45.3
China 427.2 1,034.0 428.6 1,068.6 536.7 1,109.9 493.3 1,279.0 553.0 1,288.0 550.0 1,280.7 567.9 1,320.6
Republic of Korea 179.0 207.2 169.5 198.2 204.1 202.5 192.5 196.6 191.8 224.2 187.7 257.7 193.5 245.4
Japan 525.4 1,668.1 519.4 1,693.1 531.5 1,755.3 520.5 1,545.4 653.5 1,622.4 549.7 1,750.1 522.8 1,694.0
Taiwan 158.8 171.3 136.8 153.3 145.7 153.8 129.0 141.4 127.0 160.5 98.4 149.6 91.5 151.0
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8.5 FOREIGN TRADE OF BELGIUM BY MAIN PARTNER COUNTRIES (CONTINUED)
(millions of euro)
200320022001
IIIIVIIIIIIIV
Imports pExports pImports pExports pImportsExportsImportsExportsImportsExportsImportsExportsImportsExports
Hong Kong 370.5 222.2 409.7 222.9 426.3 219.0 481.1 229.8 436.8 363.1 400.8 134.7 365.2 121.2
Other Asian countries 245.9 150.5 234.6 175.5 261.0 179.7 242.6 203.1 285.6 164.2 252.3 180.2 254.9 175.3
Australia and Oceania 256.2 184.3 353.4 276.4 347.7 314.5 355.2 257.0 345.6 221.6 340.2 179.2 330.8 235.3Australia 210.3 118.4 310.1 147.5 296.8 179.6 292.1 135.5 289.6 159.6 292.0 127.2 277.2 92.5
New Zealand 38.3 62.7 34.0 126.4 42.4 129.4 53.4 116.4 47.4 56.2 39.8 47.6 42.3 137.2
Other Oceanian countries 7.5 3.2 9.4 2.5 8.4 5.5 9.7 5.1 8.6 5.7 8.3 4.4 11.2 5.6
Other 344.5 5.8 268.5 2.1 291.1 4.2 330.2 4.3 411.2 4.1 349.2 2.4 314.6 2.7Bunker 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Other 1 344.5 5.8 268.5 2.1 291.1 4.2 330.2 4.3 411.2 4.1 349.2 2.4 314.6 2.7
Sources: 1994: NSI; since 1995: NAI- adjusted data
1 Includes, among other things, ship’s supplies, the high seas, imports from customs warehouses, indeterminate countries and international organisations.
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8.6 FOREIGN TRADE OF BELGIUM BY SECTIONS OF THE HARMONISED SYSTEM
(millions of euro)
2001 2002 2003
IV I II III IV I II
Exports Imports Exports Imports Exports Imports Exports Imports Exports Imports Exports p Imports p Exports p Imports p
Grand total 53,104.3 49,367.6 56,539.6 52,540.3 57,947.2 52,945.3 55,454.6 50,486.0 58,641.7 55,100.7 56,837.6 52,724.8 56,893.6 50,919.3I Live animals and animal products 1,384.0 1,153.3 1,228.5 1,044.7 1,240.2 1,005.7 1,225.6 1,031.8 1,311.7 1,178.0 1,195.4 1,062.5 1,194.6 1,095.5
II Vegetable products 1,129.9 1,230.1 1,283.2 1,477.9 1,307.5 1,489.0 1,120.6 1,306.5 1,181.9 1,388.6 1,334.4 1,374.7 1,411.9 1,560.8
III Fats, oils; animal or vegetable waxes 239.0 211.5 220.1 220.8 225.6 213.1 211.8 210.6 229.8 227.7 236.1 210.4 232.5 225.5
IV Prepared foodstuffs; beverages and tobacco 2,463.5 2,069.0 2,233.5 1,774.4 2,342.8 1,891.2 2,359.8 1,858.8 2,654.8 2,412.5 2,343.7 1,920.5 2,396.9 1,903.7
V Mineral products 2,349.8 4,055.4 2,239.3 4,039.2 2,729.5 4,653.7 2,853.1 4,468.8 3,101.3 4,961.4 3,154.1 5,443.5 3,314.7 4,436.0
VI Products of the chemical or allied industries 9,473.5 7,956.5 12,342.3 11,003.1 12,309.3 10,767.0 12,696.7 11,439.1 13,361.3 11,838.7 12,906.5 10,324.3 12,615.7 10,579.1
VII Plastics, rubber and articles thereof 3,912.9 2,699.0 4,009.2 2,754.4 4,414.2 2,976.2 4,147.0 2,854.7 4,096.4 2,885.4 4,434.6 2,931.1 4,237.2 2,937.4
VIII Hides and skins, leather and articles thereof 195.3 179.3 199.9 204.3 205.3 208.6 246.6 229.3 215.1 186.1 203.9 209.1 204.2 182.4
IX Wood, cork and articles thereof; basketware 468.6 410.5 487.9 423.6 528.8 472.7 455.1 401.5 492.7 432.0 498.4 457.1 513.9 473.5
X Pulp of wood; paper and paperboard and ar-ticles thereof 1,395.1 1,417.6 1,364.9 1,344.2 1,346.5 1,336.8 1,308.0 1,288.9 1,347.0 1,362.8 1,361.3 1,361.2 1,324.8 1,316.3
XI Textiles and textile articles 2,737.7 2,118.9 3,031.7 2,452.7 2,762.9 2,157.7 2,979.3 2,439.4 2,863.8 2,166.4 2,899.7 2,468.2 2,587.8 1,991.9
XII Footwear, headgear, umbrellas; and similararticles 419.5 315.0 615.7 519.1 532.3 373.8 604.2 480.4 375.0 276.4 472.4 478.0 402.7 339.4
XIII Articles of stone, cement; ceramic products;glass 785.6 542.0 815.4 534.4 894.1 582.0 815.1 531.2 832.8 561.5 815.1 561.5 869.8 576.5
XIV Pearls, precious stones, precious metals, coin 3,416.9 3,072.1 4,204.5 3,731.4 4,082.9 4,051.5 3,559.7 3,367.6 3,669.2 3,710.4 2,935.3 2,817.7 2,745.0 2,642.5
XV Base metals and articles thereof 3,889.1 3,122.4 3,995.6 3,282.3 4,258.1 3,475.0 3,940.9 3,112.0 4,076.0 3,386.5 4,132.6 3,655.6 4,279.9 3,373.2
XVI Machinery and appliances; electrical equip-ment; sound and television recorders 8,324.0 9,438.9 7,706.6 8,455.9 7,954.3 8,410.7 7,412.7 7,712.2 8,205.6 9,322.3 7,506.8 8,269.1 7,596.0 8,069.7
XVII Vehicles and transport equipment 8,110.1 6,935.3 8,414.1 7,160.2 8,661.2 6,717.5 7,425.0 5,688.3 8,337.9 6,604.1 8,131.2 7,055.3 8,689.8 7,025.3
XVIII Optical, photographic and precision instru-ments; clocks; musical instruments 873.3 1,192.4 832.0 1,069.5 850.8 1,090.6 845.0 1,009.6 889.7 1,087.9 871.5 1,041.7 944.9 1,072.3
XIX Arms and ammunition 1 163.7 17.9 49.3 16.1 41.0 22.2 55.5 22.1 70.3 18.2 49.1 13.0 45.1 17.0
XX Miscellaneous manufactured articles 944.3 1,002.2 898.1 969.6 890.1 989.9 856.6 964.6 955.1 1,031.7 895.9 979.2 886.1 1,003.6
XXI Works of art 28.4 18.4 16.5 19.1 22.6 17.9 17.3 13.0 26.3 15.1 18.3 21.1 22.8 28.6
XXII Goods not specified elsewhere 1 2 399.8 209.8 351.2 43.4 347.2 42.3 319.1 55.6 348.0 47.0 441.1 70.1 377.3 69.0
Sources: 1994: NSI; since 1995: NAI- adjusted data
1 A modification of the classification in 1998 caused a shift of some amounts from section XXII to section XIX.
2 Includes, among other things, ship’s supplies, the high seas, imports from customs warehouses, indeterminate countries and inter-national organisations.
52 Statistical bulletin of the National Bank of Belgium (2003--IV)
9 CHAPTER 9: BALANCE OF PAYMENTS9.1 BALANCE OF PAYMENTS OF BELGIUM9.1.1 BALANCE OF PAYMENTS OF BELGIUM: SYNTHETIC PRESENTATION - NET
(millions of euro)
1995 1996 1997 1998 1999 2000 2001 2002
Current account 11,237 10,616 12,260 11,911 12,129 9,778 9,732 14,040
Goods and services 8,939 8,596 9,933 9,565 10,198 7,523 8,160 11,389
Goods 8,997 8,410 8,795 8,843 8,896 5,273 6,232 9,340
Services --58 186 1,138 722 1,302 2,250 1,928 2,049
Income 5,351 5,202 5,582 6,171 6,237 6,447 5,917 7,257
Compensation of employees 2,648 2,524 2,666 2,680 2,960 3,046 3,087 3,302
Investment income 2,703 2,678 2,916 3,491 3,277 3,401 2,830 3,955
Current transfers --3,053 --3,182 --3,255 --3,825 --4,306 --4,192 --4,345 --4,606
Capital and financial account --15,578
Capital account --695
Financial account --14,883
Direct investment 2,279
Portfolio investment 15,655
Financial derivatives --2,146
Other investment --30,748
Reserve assets of the NBB 77
Errors and omissions 1,538
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9.1.2 CURRENT ACCOUNT OF BELGIUM: DETAILED PRESENTATION9.1.2.1 CURRENT ACCOUNT OF BELGIUM: DETAILED PRESENTATION - CREDIT (QUARTERLY FREQUENCY)
(millions of euro)
2001 2002 2001 2002 20032001 2002
I II III IV I II III IV I II III
Goods and services 217,542 218,037 56,704 55,229 52,333 53,276 53,897 55,837 52,584 55,719 54,817 55,037 52,212
Goods 178,119 178,262 46,907 45,526 42,035 43,651 44,265 45,719 42,757 45,521 45,373 45,216 42,898
General merchandise 160,270 162,211 41,804 40,817 38,067 39,582 40,132 41,354 39,025 41,700 41,873 41,629 39,789
Goods for processing 16,180 14,603 4,694 4,203 3,579 3,704 3,790 3,971 3,363 3,479 3,142 3,269 2,748
Repairs on goods 423 296 107 111 97 108 80 82 71 63 62 52 47
Goods procured in ports by carriers 959 1,045 209 285 238 227 232 276 284 253 283 252 298
Nonmonetary gold 287 107 93 110 54 30 31 36 14 26 13 14 16
Services 39,423 39,775 9,797 9,703 10,298 9,625 9,632 10,118 9,827 10,198 9,444 9,821 9,314
Transportation 10,534 9,002 2,660 2,687 2,729 2,458 2,188 2,344 2,323 2,147 1,907 2,061 2,077
Travel 7,695 7,108 1,847 2,006 2,130 1,712 1,545 1,774 2,091 1,698 1,550 1,842 2,121
Communications services 1,548 1,734 420 412 348 368 481 435 382 436 392 349 364
Construction services 973 1,338 256 222 226 269 306 301 317 414 341 362 354
Insurance services 488 505 130 121 117 120 126 124 118 137 127 178 143
Financial services 2,348 2,329 590 569 567 622 601 587 537 604 542 552 513
Information services 2,122 1,989 604 478 515 525 594 473 432 490 510 518 409
Royalties and license fees 793 718 156 184 243 210 207 202 121 188 225 180 151
Other business services 11,251 12,968 2,731 2,634 3,053 2,833 3,240 3,383 2,886 3,459 3,492 3,435 2,561
of which:Merchanting 473 1,510 179 81 396 --183 573 706 --6 237 744 640 --80
Personal, cultural and recreational servi-ces 374 301 91 87 95 101 81 70 69 81 67 65 73
Government services n.i.e. 1,297 1,783 312 303 275 407 263 425 551 544 291 279 548
Income 40,363 38,074 9,282 11,456 9,766 9,859 9,350 10,926 9,046 8,752 8,806 10,632 8,812
Compensation of employees 4,442 4,742 1,113 1,131 1,045 1,153 1,148 1,146 1,164 1,284 1,151 1,168 1,175
Investment income 35,921 33,332 8,169 10,325 8,721 8,706 8,202 9,780 7,882 7,468 7,655 9,464 7,637
Current transfers 6,054 5,586 1,712 1,308 1,320 1,714 1,397 1,272 1,128 1,789 1,472 1,176 1,172
General government 1,808 1,694 452 329 337 690 428 345 252 669 358 318 278
Other sectors 4,246 3,892 1,260 979 983 1,024 969 927 876 1,120 1,114 858 894
Total of the current account 263,959 261,697 67,698 67,993 63,419 64,849 64,644 68,035 62,758 66,260 65,095 66,845 62,196
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9.1.2.2 CURRENT ACCOUNT OF BELGIUM: DETAILED PRESENTATION - DEBIT (QUARTERLY FREQUENCY)
(millions of euro)
2001 2002 2001 2002 20032001 2002
I II III IV I II III IV I II III
Goods and services 209,382 206,648 54,991 53,930 49,611 50,850 50,579 51,982 50,275 53,812 53,394 51,567 49,956
Goods 171,887 168,922 46,217 44,612 39,514 41,544 41,796 42,705 39,842 44,579 44,635 42,388 40,053
General merchandise 156,389 154,685 41,537 40,641 36,174 38,037 38,107 38,939 36,550 41,089 41,634 39,306 37,372
Goods for processing 14,631 13,457 4,403 3,776 3,134 3,318 3,525 3,605 3,080 3,247 2,810 2,890 2,476
Repairs on goods 376 251 108 97 77 94 70 57 50 74 45 45 44
Goods procured in ports by carriers 489 395 153 113 119 104 71 92 134 98 92 112 133
Nonmonetary gold 2 134 16 --15 10 --9 23 12 28 71 54 35 28
Services 37,495 37,726 8,774 9,318 10,097 9,306 8,783 9,277 10,433 9,233 8,759 9,179 9,903
Transportation 8,872 8,091 2,244 2,181 2,228 2,219 1,899 2,050 2,120 2,022 1,836 1,847 1,952
Travel 10,920 10,708 2,316 2,919 3,593 2,092 2,090 2,765 3,719 2,134 2,103 2,767 3,647
Communications services 1,197 1,360 241 287 315 354 392 320 321 327 278 301 247
Construction services 566 744 143 98 119 206 143 163 197 241 214 223 175
Insurance services 580 475 145 140 144 151 127 111 118 119 149 108 131
Financial services 2,527 2,444 654 634 593 646 633 609 608 594 601 582 542
Information services 1,444 1,480 437 311 334 362 439 350 346 345 334 285 296
Royalties and license fees 1,139 838 223 210 237 469 207 188 190 253 226 219 233
Other business services 9,271 10,583 2,126 2,322 2,304 2,519 2,606 2,488 2,590 2,899 2,760 2,578 2,463
of which:Merchanting 0 0 0 0 0 0 0 0 0 0 0 0 0
Personal, cultural and recreational servi-ces 457 398 130 104 110 113 117 105 92 84 83 89 79
Government services n.i.e. 522 605 115 112 120 175 130 128 132 215 175 180 138
Income 34,446 30,817 7,457 10,362 8,529 8,098 7,228 9,506 7,311 6,772 6,720 9,822 7,507
Compensation of employees 1,355 1,440 285 376 312 382 319 403 313 405 336 417 317
Investment income 33,091 29,377 7,172 9,986 8,217 7,716 6,909 9,103 6,998 6,367 6,384 9,405 7,190
Current transfers 10,399 10,192 2,570 2,599 2,419 2,811 2,616 2,587 2,441 2,548 2,964 2,936 2,848
General government 5,160 5,418 1,307 1,286 1,184 1,383 1,429 1,417 1,278 1,294 1,582 1,664 1,454
Other sectors 5,239 4,774 1,263 1,313 1,235 1,428 1,187 1,170 1,163 1,254 1,382 1,272 1,394
Total of the current account 254,227 247,657 65,018 66,891 60,559 61,759 60,423 64,075 60,027 63,132 63,078 64,325 60,311
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9.1.2.3 CURRENT ACCOUNT OF BELGIUM: DETAILED PRESENTATION - NET (QUARTERLY FREQUENCY)
(millions of euro)
2001 2002 2001 2002 20032001 2002
I II III IV I II III IV I II III
Goods and services 8,160 11,389 1,713 1,299 2,722 2,426 3,318 3,855 2,309 1,907 1,423 3,470 2,256
Goods 6,232 9,340 690 914 2,521 2,107 2,469 3,014 2,915 942 738 2,828 2,845
General merchandise 3,881 7,526 267 176 1,893 1,545 2,025 2,415 2,475 611 239 2,323 2,417
Goods for processing 1,549 1,146 291 427 445 386 265 366 283 232 332 379 272
Repairs on goods 47 45 --1 14 20 14 10 25 21 --11 17 7 3
Goods procured in ports by carriers 470 650 56 172 119 123 161 184 150 155 191 140 165
Nonmonetary gold 285 --27 77 125 44 39 8 24 --14 --45 --41 --21 --12
Services 1,928 2,049 1,023 385 201 319 849 841 --606 965 685 642 --589
Transportation 1,662 911 416 506 501 239 289 294 203 125 71 214 125
Travel --3,225 --3,600 --469 --913 --1,463 --380 --545 --991 --1,628 --436 --553 --925 --1,526
Communications services 351 374 179 125 33 14 89 115 61 109 114 48 117
Construction services 407 594 113 124 107 63 163 138 120 173 127 139 179
Insurance services --92 30 --15 --19 --27 --31 --1 13 0 18 --22 70 12
Financial services --179 --115 --64 --65 --26 --24 --32 --22 --71 10 --59 --30 --29
Information services 678 509 167 167 181 163 155 123 86 145 176 233 113
Royalties and license fees --346 --120 --67 --26 6 --259 0 14 --69 --65 --1 --39 --82
Other business services 1,980 2,385 605 312 749 314 634 895 296 560 732 857 98
of which:Merchanting 473 1,510 179 81 396 --183 573 706 --6 237 744 640 --80
Personal, cultural and recreational servi-ces --83 --97 --39 --17 --15 --12 --36 --35 --23 --3 --16 --24 --6
Government services n.i.e. 775 1,178 197 191 155 232 133 297 419 329 116 99 410
Income 5,917 7,257 1,825 1,094 1,237 1,761 2,122 1,420 1,735 1,980 2,086 810 1,305
Compensation of employees 3,087 3,302 828 755 733 771 829 743 851 879 815 751 858
Investment income 2,830 3,955 997 339 504 990 1,293 677 884 1,101 1,271 59 447
Current transfers --4,345 --4,606 --858 --1,291 --1,099 --1,097 --1,219 --1,315 --1,313 --759 --1,492 --1,760 --1,676
General government --3,352 --3,724 --855 --957 --847 --693 --1,001 --1,072 --1,026 --625 --1,224 --1,346 --1,176
Other sectors --993 --882 --3 --334 --252 --404 --218 --243 --287 --134 --268 --414 --500
Total of the current account 9,732 14,040 2,680 1,102 2,860 3,090 4,221 3,960 2,731 3,128 2,017 2,520 1,885
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9.1.2.4 CURRENT ACCOUNT OF BELGIUM: DETAILED PRESENTATION - CREDIT (MONTHLY FREQUENCY)
(millions of euro)
2002 2003
Sep. Oct. Nov. Dec. Jan. Feb. March April May June July Aug. Sep.
Goods and services 18,797 20,477 18,141 17,101 17,933 17,592 19,292 18,674 17,788 18,575 18,429 14,531 19,252
Goods 15,715 16,880 15,022 13,619 14,695 14,687 15,991 15,354 14,692 15,170 15,102 11,707 16,089
General merchandise 14,316 15,381 13,807 12,512 13,677 13,559 14,637 14,207 13,538 13,884 13,990 10,983 14,816
Goods for processing 1,277 1,369 1,109 1,001 911 1,012 1,219 1,044 1,044 1,181 986 606 1,156
Repairs on goods 24 20 23 20 18 20 24 16 17 19 20 13 14
Goods procured in ports by carriers 89 97 77 79 85 90 108 85 87 80 102 98 98
Nonmonetary gold 9 13 6 7 4 6 3 2 6 6 4 7 5
Services 3,082 3,597 3,119 3,482 3,238 2,905 3,301 3,320 3,096 3,405 3,327 2,824 3,163
Transportation 750 739 681 727 677 599 631 700 685 676 730 689 658
Travel 664 687 489 522 497 481 572 558 593 691 684 754 683
Communications services 94 149 136 151 114 99 179 127 124 98 115 111 138
Construction services 112 174 82 158 114 110 117 115 114 133 130 89 135
Insurance services 36 43 43 51 33 44 50 67 56 55 46 48 49
Financial services 161 187 204 213 196 174 172 189 190 173 185 170 158
Information services 129 149 145 196 222 147 141 181 188 149 161 116 132
Royalties and license fees 59 95 41 52 75 18 132 124 9 47 79 17 55
Other business services 885 1,142 1,099 1,218 1,188 1,096 1,208 1,132 1,027 1,276 968 636 957
of which:Merchanting --17 128 104 5 238 203 303 107 196 337 --117 --106 143
Personal, cultural and recreational servi-ces 21 38 20 23 21 21 25 23 23 19 26 23 24
Government services n.i.e. 171 194 179 171 101 116 74 104 87 88 203 171 174
Income 3,076 2,700 2,579 3,473 2,965 2,838 3,003 3,141 3,678 3,813 3,183 2,645 2,984
Compensation of employees 392 389 394 501 388 380 383 360 435 373 395 388 392
Investment income 2,684 2,311 2,185 2,972 2,577 2,458 2,620 2,781 3,243 3,440 2,788 2,257 2,592
Current transfers 360 461 725 603 495 440 537 429 409 338 414 378 380
General government 85 120 422 127 89 75 194 101 134 83 111 74 93
Other sectors 275 341 303 476 406 365 343 328 275 255 303 304 287
Total of the current account 22,233 23,638 21,445 21,177 21,393 20,870 22,832 22,244 21,875 22,726 22,026 17,554 22,616
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9.1.2.5 CURRENT ACCOUNT OF BELGIUM: DETAILED PRESENTATION - DEBIT (MONTHLY FREQUENCY)
(millions of euro)
2002 2003
Sep. Oct. Nov. Dec. Jan. Feb. March April May June July Aug. Sep.
Goods and services 17,467 19,012 16,943 17,857 17,828 17,261 18,305 17,513 16,533 17,521 17,457 15,406 17,093
Goods 14,328 15,726 14,218 14,635 14,616 14,521 15,498 14,486 13,616 14,286 13,731 12,240 14,082
General merchandise 13,072 14,314 13,109 13,666 13,801 13,530 14,303 13,541 12,555 13,210 12,885 11,593 12,894
Goods for processing 1,195 1,327 1,035 885 748 932 1,130 878 997 1,015 775 580 1,121
Repairs on goods 15 21 21 32 17 13 15 18 14 13 13 14 17
Goods procured in ports by carriers 34 36 31 31 30 29 33 35 39 38 48 44 41
Nonmonetary gold 12 28 22 21 20 17 17 14 11 10 10 9 9
Services 3,139 3,286 2,725 3,222 3,212 2,740 2,807 3,027 2,917 3,235 3,726 3,166 3,011
Transportation 680 747 631 644 636 597 603 637 568 642 675 613 664
Travel 1,011 881 660 593 733 657 713 915 872 980 1,444 1,192 1,011
Communications services 107 102 105 120 95 91 92 101 90 110 107 67 73
Construction services 71 71 81 89 82 58 74 59 63 101 70 52 53
Insurance services 35 37 41 41 52 52 45 37 35 36 51 41 39
Financial services 186 197 185 212 243 178 180 194 197 191 208 163 171
Information services 118 135 94 116 128 90 116 92 100 93 109 101 86
Royalties and license fees 78 94 83 76 62 80 84 76 86 57 70 96 67
Other business services 771 893 778 1,228 1,091 858 811 857 818 903 913 768 782
of which:Merchanting 0 0 0 0 0 0 0 0 0 0 0 0 0
Personal, cultural and recreational servi-ces 31 24 25 35 23 31 29 17 24 48 21 19 39
Government services n.i.e. 51 105 42 68 67 48 60 42 64 74 58 54 26
Income 2,499 1,991 1,978 2,803 2,222 2,186 2,312 2,357 3,588 3,877 2,697 2,262 2,548
Compensation of employees 104 103 106 196 117 111 108 114 195 108 106 103 108
Investment income 2,395 1,888 1,872 2,607 2,105 2,075 2,204 2,243 3,393 3,769 2,591 2,159 2,440
Current transfers 806 836 854 858 1,101 958 905 931 1,010 995 1,048 903 897
General government 425 420 473 401 671 494 417 494 602 568 497 471 486
Other sectors 381 416 381 457 430 464 488 437 408 427 551 432 411
Total of the current account 20,772 21,839 19,775 21,518 21,151 20,405 21,522 20,801 21,131 22,393 21,202 18,571 20,538
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9.1.2.6 CURRENT ACCOUNT OF BELGIUM: DETAILED PRESENTATION - NET (MONTHLY FREQUENCY)
(millions of euro)
2002 2003
Sep. Oct. Nov. Dec. Jan. Feb. March April May June July Aug. Sep.
Goods and services 1,330 1,465 1,198 --756 105 331 987 1,161 1,255 1,054 972 --875 2,159
Goods 1,387 1,154 804 --1,016 79 166 493 868 1,076 884 1,371 --533 2,007
General merchandise 1,244 1,067 698 --1,154 --124 29 334 666 983 674 1,105 --610 1,922
Goods for processing 82 42 74 116 163 80 89 166 47 166 211 26 35
Repairs on goods 9 --1 2 --12 1 7 9 --2 3 6 7 --1 --3
Goods procured in ports by carriers 55 61 46 48 55 61 75 50 48 42 54 54 57
Nonmonetary gold --3 --15 --16 --14 --16 --11 --14 --12 --5 --4 --6 --2 --4
Services --57 311 394 260 26 165 494 293 179 170 --399 --342 152
Transportation 70 --8 50 83 41 2 28 63 117 34 55 76 --6
Travel --347 --194 --171 --71 --236 --176 --141 --357 --279 --289 --760 --438 --328
Communications services --13 47 31 31 19 8 87 26 34 --12 8 44 65
Construction services 41 103 1 69 32 52 43 56 51 32 60 37 82
Insurance services 1 6 2 10 --19 --8 5 30 21 19 --5 7 10
Financial services --25 --10 19 1 --47 --4 --8 --5 --7 --18 --23 7 --13
Information services 11 14 51 80 94 57 25 89 88 56 52 15 46
Royalties and license fees --19 1 --42 --24 13 --62 48 48 --77 --10 9 --79 --12
Other business services 114 249 321 --10 97 238 397 275 209 373 55 --132 175
of which:Merchanting --17 128 104 5 238 203 303 107 196 337 --117 --106 143
Personal, cultural and recreational servi-ces --10 14 --5 --12 --2 --10 --4 6 --1 --29 5 4 --15
Government services n.i.e. 120 89 137 103 34 68 14 62 23 14 145 117 148
Income 577 709 601 670 743 652 691 784 90 --64 486 383 436
Compensation of employees 288 286 288 305 271 269 275 246 240 265 289 285 284
Investment income 289 423 313 365 472 383 416 538 --150 --329 197 98 152
Current transfers --446 --375 --129 --255 --606 --518 --368 --502 --601 --657 --634 --525 --517
General government --340 --300 --51 --274 --582 --419 --223 --393 --468 --485 --386 --397 --393
Other sectors --106 --75 --78 19 --24 --99 --145 --109 --133 --172 --248 --128 --124
Total of the current account 1,461 1,799 1,670 --341 242 465 1,310 1,443 744 333 824 --1,017 2,078
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9.1.2.7 CURRENT ACCOUNT OF BELGIUM: DETAILED PRESENTATION - CREDIT (CUMULATIVE MONTHLY FREQUENCY)
(millions of euro)
2002 2003
Sep. Oct. Nov. Dec. Jan. Feb. March April May June July Aug. Sep.
Goods and services 162,318 182,795 200,936 218,037 17,933 35,525 54,817 73,491 91,279 109,854 128,283 142,814 162,066
Goods 132,741 149,621 164,643 178,262 14,695 29,382 45,373 60,727 75,419 90,589 105,691 117,398 133,487
General merchandise 120,511 135,892 149,699 162,211 13,677 27,236 41,873 56,080 69,618 83,502 97,492 108,475 123,291
Goods for processing 11,124 12,493 13,602 14,603 911 1,923 3,142 4,186 5,230 6,411 7,397 8,003 9,159
Repairs on goods 233 253 276 296 18 38 62 78 95 114 134 147 161
Goods procured in ports by carriers 792 889 966 1,045 85 175 283 368 455 535 637 735 833
Nonmonetary gold 81 94 100 107 4 10 13 15 21 27 31 38 43
Services 29,577 33,174 36,293 39,775 3,238 6,143 9,444 12,764 15,860 19,265 22,592 25,416 28,579
Transportation 6,855 7,594 8,275 9,002 677 1,276 1,907 2,607 3,292 3,968 4,698 5,387 6,045
Travel 5,410 6,097 6,586 7,108 497 978 1,550 2,108 2,701 3,392 4,076 4,830 5,513
Communications services 1,298 1,447 1,583 1,734 114 213 392 519 643 741 856 967 1,105
Construction services 924 1,098 1,180 1,338 114 224 341 456 570 703 833 922 1,057
Insurance services 368 411 454 505 33 77 127 194 250 305 351 399 448
Financial services 1,725 1,912 2,116 2,329 196 370 542 731 921 1,094 1,279 1,449 1,607
Information services 1,499 1,648 1,793 1,989 222 369 510 691 879 1,028 1,189 1,305 1,437
Royalties and license fees 530 625 666 718 75 93 225 349 358 405 484 501 556
Other business services 9,509 10,651 11,750 12,968 1,188 2,284 3,492 4,624 5,651 6,927 7,895 8,531 9,488
of which:Merchanting 1,273 1,401 1,505 1,510 238 441 744 851 1,047 1,384 1,267 1,161 1,304
Personal, cultural and recreational servi-ces 220 258 278 301 21 42 67 90 113 132 158 181 205
Government services n.i.e. 1,239 1,433 1,612 1,783 101 217 291 395 482 570 773 944 1,118
Income 29,322 32,022 34,601 38,074 2,965 5,803 8,806 11,947 15,625 19,438 22,621 25,266 28,250
Compensation of employees 3,458 3,847 4,241 4,742 388 768 1,151 1,511 1,946 2,319 2,714 3,102 3,494
Investment income 25,864 28,175 30,360 33,332 2,577 5,035 7,655 10,436 13,679 17,119 19,907 22,164 24,756
Current transfers 3,797 4,258 4,983 5,586 495 935 1,472 1,901 2,310 2,648 3,062 3,440 3,820
General government 1,025 1,145 1,567 1,694 89 164 358 459 593 676 787 861 954
Other sectors 2,772 3,113 3,416 3,892 406 771 1,114 1,442 1,717 1,972 2,275 2,579 2,866
Total of the current account 195,437 219,075 240,520 261,697 21,393 42,263 65,095 87,339 109,214 131,940 153,966 171,520 194,136
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9.1.2.8 CURRENT ACCOUNT OF BELGIUM: DETAILED PRESENTATION - DEBIT (CUMULATIVE MONTHLY FREQUENCY)
(millions of euro)
2002 2003
Sep. Oct. Nov. Dec. Jan. Feb. March April May June July Aug. Sep.
Goods and services 152,836 171,848 188,791 206,648 17,828 35,089 53,394 70,907 87,440 104,961 122,418 137,824 154,917
Goods 124,343 140,069 154,287 168,922 14,616 29,137 44,635 59,121 72,737 87,023 100,754 112,994 127,076
General merchandise 113,596 127,910 141,019 154,685 13,801 27,331 41,634 55,175 67,730 80,940 93,825 105,418 118,312
Goods for processing 10,210 11,537 12,572 13,457 748 1,680 2,810 3,688 4,685 5,700 6,475 7,055 8,176
Repairs on goods 177 198 219 251 17 30 45 63 77 90 103 117 134
Goods procured in ports by carriers 297 333 364 395 30 59 92 127 166 204 252 296 337
Nonmonetary gold 63 91 113 134 20 37 54 68 79 89 99 108 117
Services 28,493 31,779 34,504 37,726 3,212 5,952 8,759 11,786 14,703 17,938 21,664 24,830 27,841
Transportation 6,069 6,816 7,447 8,091 636 1,233 1,836 2,473 3,041 3,683 4,358 4,971 5,635
Travel 8,574 9,455 10,115 10,708 733 1,390 2,103 3,018 3,890 4,870 6,314 7,506 8,517
Communications services 1,033 1,135 1,240 1,360 95 186 278 379 469 579 686 753 826
Construction services 503 574 655 744 82 140 214 273 336 437 507 559 612
Insurance services 356 393 434 475 52 104 149 186 221 257 308 349 388
Financial services 1,850 2,047 2,232 2,444 243 421 601 795 992 1,183 1,391 1,554 1,725
Information services 1,135 1,270 1,364 1,480 128 218 334 426 526 619 728 829 915
Royalties and license fees 585 679 762 838 62 142 226 302 388 445 515 611 678
Other business services 7,684 8,577 9,355 10,583 1,091 1,949 2,760 3,617 4,435 5,338 6,251 7,019 7,801
of which:Merchanting 0 0 0 0 0 0 0 0 0 0 0 0 0
Personal, cultural and recreational servi-ces 314 338 363 398 23 54 83 100 124 172 193 212 251
Government services n.i.e. 390 495 537 605 67 115 175 217 281 355 413 467 493
Income 24,045 26,036 28,014 30,817 2,222 4,408 6,720 9,077 12,665 16,542 19,239 21,501 24,049
Compensation of employees 1,035 1,138 1,244 1,440 117 228 336 450 645 753 859 962 1,070
Investment income 23,010 24,898 26,770 29,377 2,105 4,180 6,384 8,627 12,020 15,789 18,380 20,539 22,979
Current transfers 7,644 8,480 9,334 10,192 1,101 2,059 2,964 3,895 4,905 5,900 6,948 7,851 8,748
General government 4,124 4,544 5,017 5,418 671 1,165 1,582 2,076 2,678 3,246 3,743 4,214 4,700
Other sectors 3,520 3,936 4,317 4,774 430 894 1,382 1,819 2,227 2,654 3,205 3,637 4,048
Total of the current account 184,525 206,364 226,139 247,657 21,151 41,556 63,078 83,879 105,010 127,403 148,605 167,176 187,714
61S
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9.1.2.9 CURRENT ACCOUNT OF BELGIUM: DETAILED PRESENTATION - NET (CUMULATIVE MONTHLY FREQUENCY)
(millions of euro)
2002 2003
Sep. Oct. Nov. Dec. Jan. Feb. March April May June July Aug. Sep.
Goods and services 9,482 10,947 12,145 11,389 105 436 1,423 2,584 3,839 4,893 5,865 4,990 7,149
Goods 8,398 9,552 10,356 9,340 79 245 738 1,606 2,682 3,566 4,937 4,404 6,411
General merchandise 6,915 7,982 8,680 7,526 --124 --95 239 905 1,888 2,562 3,667 3,057 4,979
Goods for processing 914 956 1,030 1,146 163 243 332 498 545 711 922 948 983
Repairs on goods 56 55 57 45 1 8 17 15 18 24 31 30 27
Goods procured in ports by carriers 495 556 602 650 55 116 191 241 289 331 385 439 496
Nonmonetary gold 18 3 --13 --27 --16 --27 --41 --53 --58 --62 --68 --70 --74
Services 1,084 1,395 1,789 2,049 26 191 685 978 1,157 1,327 928 586 738
Transportation 786 778 828 911 41 43 71 134 251 285 340 416 410
Travel --3,164 --3,358 --3,529 --3,600 --236 --412 --553 --910 --1,189 --1,478 --2,238 --2,676 --3,004
Communications services 265 312 343 374 19 27 114 140 174 162 170 214 279
Construction services 421 524 525 594 32 84 127 183 234 266 326 363 445
Insurance services 12 18 20 30 --19 --27 --22 8 29 48 43 50 60
Financial services --125 --135 --116 --115 --47 --51 --59 --64 --71 --89 --112 --105 --118
Information services 364 378 429 509 94 151 176 265 353 409 461 476 522
Royalties and license fees --55 --54 --96 --120 13 --49 --1 47 --30 --40 --31 --110 --122
Other business services 1,825 2,074 2,395 2,385 97 335 732 1,007 1,216 1,589 1,644 1,512 1,687
of which:Merchanting 1,273 1,401 1,505 1,510 238 441 744 851 1,047 1,384 1,267 1,161 1,304
Personal, cultural and recreational servi-ces --94 --80 --85 --97 --2 --12 --16 --10 --11 --40 --35 --31 --46
Government services n.i.e. 849 938 1,075 1,178 34 102 116 178 201 215 360 477 625
Income 5,277 5,986 6,587 7,257 743 1,395 2,086 2,870 2,960 2,896 3,382 3,765 4,201
Compensation of employees 2,423 2,709 2,997 3,302 271 540 815 1,061 1,301 1,566 1,855 2,140 2,424
Investment income 2,854 3,277 3,590 3,955 472 855 1,271 1,809 1,659 1,330 1,527 1,625 1,777
Current transfers --3,847 --4,222 --4,351 --4,606 --606 --1,124 --1,492 --1,994 --2,595 --3,252 --3,886 --4,411 --4,928
General government --3,099 --3,399 --3,450 --3,724 --582 --1,001 --1,224 --1,617 --2,085 --2,570 --2,956 --3,353 --3,746
Other sectors --748 --823 --901 --882 --24 --123 --268 --377 --510 --682 --930 --1,058 --1,182
Total of the current account 10,912 12,711 14,381 14,040 242 707 2,017 3,460 4,204 4,537 5,361 4,344 6,422
62 Statistical bulletin of the National Bank of Belgium (2003--IV)
9.1.3 CAPITAL AND FINANCIAL ACCOUNT OF BELGIUM: DETAILED PRESENTATION9.1.3.1 CAPITAL AND FINANCIAL ACCOUNT OF BELGIUM: DETAILED PRESENTATION -
NET
(millions of euro)
2002 2003
Sep. Oct. Nov. Dec. Jan. Feb. March April May June July Aug. Sep.
Capital account --65 --39 --41 --116 --11 --23 --669 --26 --16 --19 --16 --24 --20
Capital transfers --58 --32 --59 --108 --3 --16 --662 --21 --10 --11 --10 --18 --11
Acquisition and disposal ofnon-produced nonfinancialassets --7 --7 18 --8 --8 --7 --7 --5 --6 --8 --6 --6 --9
Financial account --1,138 --743 --2,923 --537 --641 --1,123 --1,177 --1,331 --699 --760 --1,592 --551 --2,751
Direct investment 470 2,689 --1,904 2,570 --3,746 1,533 --3,019 493 --272 --2,024 --399 --687 --3,646
Abroad 134 --494 --5,683 --189 --5,503 --707 --3,176 --395 --1,925 --4,861 --1,029 --1,579 --4,758
Equity capital --386 --370 --1,182 698 --708 4 --109 --257 --294 --313 967 --567 --121
Reinvested earnings --19 --9 --10 --23 --7 --8 --7 --10 --38 --42 --21 --21 --19
Other transactions 539 --115 --4,491 --864 --4,788 --703 --3,060 --128 --1,593 --4,506 --1,975 --991 --4,618
In reporting economy 336 3,183 3,779 2,759 1,757 2,240 157 888 1,653 2,837 630 892 1,112
Equity capital --156 2,958 2,409 1,330 4,574 920 751 919 14 1,888 --118 886 311
Reinvested earnings 29 31 23 60 29 25 23 45 84 82 56 56 29
Other transactions 463 194 1,347 1,369 --2,846 1,295 --617 --76 1,555 867 692 --50 772
Portfolio investment --884 1,733 --1,451 4,344 12,798 2,651 --12,003 2,358 4,213 3,749 4,297 --7,848 --7,052
Assets 1 1,417 967 --4,324 3,385 1,062 2,501 --10,964 1,475 --5,213 5,369 4,896 --4,624 --5,096
Liabilities 2 --2,301 766 2,873 959 11,736 150 --1,039 883 9,426 --1,620 --599 --3,224 --1,956
Financial derivatives 50 --423 670 --266 912 --234 --780 --587 614 --754 --1,128 --1,420 848
Other investment --484 --5,091 --102 --7,076 --10,542 --5,290 13,675 --4,262 --5,110 --1,630 --4,182 9,477 7,064
Assets --16,722 328 --18,320 6,317 --287 --23,308 7,185 --6,536 --1,965 --4,553 1,579 11,041 --5,904
Trade credits --1,382 --58 649 1,064 74 --560 --414 --42 338 79 222 724 --852
Other --15,340 386 --18,969 5,253 --361 --22,748 7,599 --6,494 --2,303 --4,632 1,357 10,317 --5,052
Liabilities 16,238 --5,419 18,218 --13,393 --10,255 18,018 6,490 2,274 --3,145 2,923 --5,761 --1,564 12,968
Trade credits 108 590 --27 --165 --275 219 293 --130 --175 60 --455 --114 33
Other 16,130 --6,009 18,245 --13,228 --9,980 17,799 6,197 2,404 --2,970 2,863 --5,306 --1,450 12,935
Reserve assets of the NBB --290 349 --136 --109 --63 217 950 667 --144 --101 --180 --73 35
Total of the capital and finan-cial account --1,203 --782 --2,964 --653 --652 --1,146 --1,846 --1,357 --715 --779 --1,608 --575 --2,771
1 Assets: transactions in securities other than Belgian securities. Minus sign: increase in as-sets of residents.
2 Liabilities: transactions in Belgian securities. Minus sign: decrease in assets of non-resi-dents.
63Statistical bulletin of the National Bank of Belgium (2003--IV)
9.1.3.2 CAPITAL AND FINANCIAL ACCOUNT OF BELGIUM: DETAILED PRESENTATION - NETCUMUL
(millions of euro)
2002 2003
Sep. Oct. Nov. Dec. Jan. Feb. March April May June July Aug. Sep.
Capital account --499 --538 --579 --695 --11 --34 --703 --729 --745 --764 --780 --804 --824
Capital transfers --437 --469 --528 --636 --3 --19 --681 --702 --712 --723 --733 --751 --762
Acquisition and disposal ofnon-produced nonfinancialassets --62 --69 --51 --59 --8 --15 --22 --27 --33 --41 --47 --53 --62
Financial account --10,680 --11,423 --14,346 --14,883 --641 --1,764 --2,941 --4,272 --4,971 --5,731 --7,323 --7,874 --10,625
Direct investment --1,076 1,613 --291 2,279 --3,746 --2,213 --5,232 --4,739 --5,011 --7,035 --7,434 --8,121 --11,767
Abroad --3,644 --4,138 --9,821 --10,010 --5,503 --6,210 --9,386 --9,781 --11,706 --16,567 --17,596 --19,175 --23,933
Equity capital --1,667 --2,037 --3,219 --2,521 --708 --704 --813 --1,070 --1,364 --1,677 --710 --1,277 --1,398
Reinvested earnings --165 --174 --184 --207 --7 --15 --22 --32 --70 --112 --133 --154 --173
Other transactions --1,812 --1,927 --6,418 --7,282 --4,788 --5,491 --8,551 --8,679 --10,272 --14,778 --16,753 --17,744 --22,362
In reporting economy 2,568 5,751 9,530 12,289 1,757 3,997 4,154 5,042 6,695 9,532 10,162 11,054 12,166
Equity capital --1,208 1,750 4,159 5,489 4,574 5,494 6,245 7,164 7,178 9,066 8,948 9,834 10,145
Reinvested earnings 397 428 451 511 29 54 77 122 206 288 344 400 429
Other transactions 3,379 3,573 4,920 6,289 --2,846 --1,551 --2,168 --2,244 --689 178 870 820 1,592
Portfolio investment 11,029 12,762 11,311 15,655 12,798 15,449 3,446 5,804 10,017 13,766 18,063 10,215 3,163
Assets 1 --5,676 --4,709 --9,033 --5,648 1,062 3,563 --7,401 --5,926 --11,139 --5,770 --874 --5,498 --10,594
Liabilities 2 16,705 17,471 20,344 21,303 11,736 11,886 10,847 11,730 21,156 19,536 18,937 15,713 13,757
Financial derivatives --2,127 --2,550 --1,880 --2,146 912 678 --102 --689 --75 --829 --1,957 --3,377 --2,529
Other investment --18,479 --23,570 --23,672 --30,748 --10,542 --15,832 --2,157 --6,419 --11,529 --13,159 --17,341 --7,864 --800
Assets --36,563 --36,235 --54,555 --48,238 --287 --23,595 --16,410 --22,946 --24,911 --29,464 --27,885 --16,844 --22,748
Trade credits --1,837 --1,895 --1,246 --182 74 --486 --900 --942 --604 --525 --303 421 --431
Other --34,726 --34,340 --53,309 --48,056 --361 --23,109 --15,510 --22,004 --24,307 --28,939 --27,582 --17,265 --22,317
Liabilities 18,084 12,665 30,883 17,490 --10,255 7,763 14,253 16,527 13,382 16,305 10,544 8,980 21,948
Trade credits 400 990 963 798 --275 --56 237 107 --68 --8 --463 --577 --544
Other 17,684 11,675 29,920 16,692 --9,980 7,819 14,016 16,420 13,450 16,313 11,007 9,557 22,492
Reserve assets of the NBB --27 322 186 77 --63 154 1,104 1,771 1,627 1,526 1,346 1,273 1,308
Total of the capital and finan-cial account --11,179 --11,961 --14,925 --15,578 --652 --1,798 --3,644 --5,001 --5,716 --6,495 --8,103 --8,678 --11,449
1 Assets: transactions in securities other than Belgian securities. Minus sign: increase inassets of residents.
2 Liabilities: transactions in Belgian securities. Minus sign: decrease in assets of non-resi-dents.
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10 CHAPTER 10: EXCHANGE RATES10.1 REFERENCE EXCHANGE RATES OF THE EURO
(national currency units, daily averages)
US dollar Japanese yen Danish krone Swedish kro-na
Pound sterling Norwegiankrone
Czech koruna Cyprus pound Estoniankroon
Hungarian fo-rint
Polish zloty Slovenian to-lar
Swiss franc Canadian dol-lar
1999 1.0658 121.32 7.4355 8.8075 0.6587 8.3104 36.884 0.57884 15.6466 252.77 4.2274 194.4732 1.6003 1.5840
2000 0.9236 99.47 7.4538 8.4452 0.6095 8.1129 35.599 0.57392 15.6466 260.04 4.0082 206.6127 1.5579 1.3706
2001 0.8956 108.68 7.4521 9.2551 0.6219 8.0484 34.068 0.57589 15.6466 256.59 3.6721 217.9797 1.5105 1.3864
2002 0.9456 118.06 7.4305 9.1611 0.6288 7.5086 30.804 0.57530 15.6466 242.96 3.8574 225.9772 1.4670 1.4838
2003 1.1312 130.97 7.4307 9.1242 0.6920 8.0033 31.846 0.58409 15.6466 253.62 4.3996 233.8493 1.5212 1.5817
2001 IV 0.8959 110.45 7.4415 9.4810 0.6209 7.9693 33.168 0.57427 15.6466 251.62 3.6623 219.9603 1.4735 1.4157
2002 I 0.8766 116.07 7.4317 9.1589 0.6147 7.8117 31.768 0.57578 15.6466 244.04 3.6182 221.9111 1.4733 1.3978
II 0.9188 116.46 7.4343 9.1584 0.6285 7.5175 30.400 0.57822 15.6466 242.94 3.7169 225.1907 1.4648 1.4275
III 0.9838 117.24 7.4281 9.2301 0.6353 7.3991 30.231 0.57480 15.6466 245.35 4.0810 227.2539 1.4636 1.5361
IV 0.9994 122.42 7.4281 9.0946 0.6361 7.3192 30.857 0.57249 15.6466 239.47 3.9970 229.3740 1.4667 1.5687
2003 I 1.0731 127.59 7.4305 9.1822 0.6696 7.5706 31.624 0.58001 15.6466 243.63 4.1892 231.2825 1.4662 1.6203
II 1.1372 134.74 7.4250 9.1425 0.7017 7.9570 31.470 0.58653 15.6466 250.95 4.3560 232.9990 1.5180 1.5889
III 1.1248 132.14 7.4309 9.1631 0.6989 8.2472 32.168 0.58574 15.6466 259.65 4.4244 234.8763 1.5451 1.5533
IV 1.1890 129.45 7.4361 9.0093 0.6975 8.2227 32.096 0.58404 15.6466 259.82 4.6232 236.1407 1.5537 1.5659
2002 Dec. 1.0183 124.20 7.4264 9.0961 0.6422 7.2948 31.194 0.57297 15.6466 236.07 3.9858 230.0165 1.4679 1.5872
2003 Jan. 1.0622 126.12 7.4324 9.1733 0.6571 7.3328 31.489 0.57691 15.6466 240.39 4.0704 230.7055 1.4621 1.6364
Feb. 1.0773 128.60 7.4317 9.1455 0.6698 7.5439 31.641 0.58038 15.6466 245.12 4.1656 231.3664 1.4674 1.6299
March 1.0807 128.16 7.4274 9.2265 0.6825 7.8450 31.751 0.58292 15.6466 245.60 4.3363 231.8070 1.4695 1.5943
April 1.0848 130.11 7.4255 9.1541 0.6890 7.8317 31.618 0.58657 15.6466 245.59 4.2971 232.3136 1.4964 1.5851
May 1.1582 135.83 7.4246 9.1559 0.7132 7.8715 31.387 0.58694 15.6466 245.78 4.3343 232.9908 1.5155 1.6016
June 1.1663 138.05 7.4250 9.1182 0.7022 8.1619 31.412 0.58607 15.6466 261.21 4.4339 233.6600 1.5411 1.5798
July 1.1372 134.99 7.4332 9.1856 0.7004 8.2893 31.880 0.58730 15.6466 263.73 4.4368 234.4369 1.5476 1.5694
Aug. 1.1139 132.38 7.4322 9.2378 0.6992 8.2558 32.287 0.58616 15.6466 259.56 4.3699 234.9962 1.5400 1.5570
Sep. 1.1222 128.94 7.4273 9.0682 0.6969 8.1952 32.355 0.58370 15.6466 255.46 4.4635 235.2211 1.5474 1.5330
Oct. 1.1692 128.12 7.4301 9.0105 0.6976 8.2274 31.989 0.58418 15.6466 255.77 4.5952 235.6663 1.5485 1.5489
Nov. 1.1702 127.84 7.4370 8.9939 0.6928 8.1969 31.974 0.58328 15.6466 259.31 4.6174 236.1345 1.5590 1.5361
Dec. 1.2286 132.43 7.4419 9.0228 0.7020 8.2421 32.329 0.58459 15.6466 264.74 4.6595 236.6662 1.5544 1.6131
Source: ECB Calculations: BNB/NBB
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10.1 REFERENCE EXCHANGE RATES OF THE EURO (CONTINUED)
(national currency units, daily averages)
Australian dol-lar
New Zealanddollar
South Africanrand
Bulgarian lev Hong Kongdollar
Icelandic kro-na
South Koreanwon
Lithuanian li-tas
Latvian lat Maltese lira Romanian leu Singaporeandollar
Slovakian ko-runa
Turkish lira
1999 1.6523 2.0145 6.5172
2000 1.5889 2.0288 6.3882
2001 1.7319 2.1300 7.6873 1.9482 6.9855 87.42 1,154.83 3.5823 0.5601 0.4030 26,004 1.6039 43.300 1,102,425
2002 1.7376 2.0366 9.9072 1.9492 7.3750 86.18 1,175.50 3.4594 0.5810 0.4089 31,270 1.6912 42.694 1,439,680
2003 1.7379 1.9438 8.5317 1.9490 8.8079 86.65 1,346.90 3.4527 0.6407 0.4261 37,551 1.9703 41.489 1,694,851
2001 IV 1.7508 2.1558 9.0561 1.9467 6.9873 93.86 1,155.22 3.5824 0.5585 0.4029 27,932 1.6344 43.289 1,375,119
2002 I 1.6923 2.0626 10.1199 1.9503 6.8368 88.96 1,155.27 3.4807 0.5589 0.3998 28,344 1.6072 42.234 1,195,411
II 1.6662 1.9796 9.5993 1.9504 7.1664 85.16 1,157.79 3.4525 0.5717 0.4066 30,626 1.6567 42.992 1,305,508
III 1.7965 2.0853 10.2514 1.9471 7.6731 84.95 1,172.73 3.4527 0.5921 0.4144 32,525 1.7294 43.807 1,624,939
IV 1.7913 2.0171 9.6491 1.9493 7.7941 85.75 1,215.37 3.4526 0.6002 0.4145 33,444 1.7671 41.696 1,617,344
2003 I 1.8095 1.9537 8.9600 1.9535 8.3695 84.16 1,288.92 3.4527 0.6226 0.4214 35,593 1.8724 41.786 1,777,952
II 1.7742 1.9955 8.8217 1.9467 8.8692 84.71 1,373.83 3.4528 0.6452 0.4274 37,434 1.9872 41.226 1,716,532
III 1.7089 1.9254 8.3505 1.9465 8.7674 88.40 1,321.05 3.4528 0.6419 0.4268 37,410 1.9699 41.747 1,569,762
IV 1.6622 1.9032 8.0159 1.9494 9.2219 89.16 1,404.56 3.4526 0.6528 0.4287 39,735 2.0507 41.184 1,721,043
2002 Dec. 1.8076 1.9947 9.1038 1.9521 7.9409 84.92 1,226.88 3.4523 0.6049 0.4160 34,251 1.7858 41.745 1,619,050
2003 Jan. 1.8218 1.9648 9.2343 1.9555 8.2841 84.45 1,250.05 3.4529 0.6195 0.4194 35,539 1.8433 41.638 1,767,136
Feb. 1.8112 1.9457 8.9347 1.9540 8.4022 83.70 1,282.82 3.4524 0.6231 0.4217 35,403 1.8803 41.987 1,762,350
March 1.7950 1.9497 8.6966 1.9510 8.4279 84.31 1,335.44 3.4528 0.6253 0.4234 35,831 1.8954 41.749 1,804,143
April 1.7813 1.9700 8.3192 1.9473 8.4605 83.38 1,337.38 3.4530 0.6286 0.4240 36,569 1.9282 41.038 1,767,550
May 1.7866 2.0083 8.9060 1.9464 9.0321 84.44 1,390.03 3.4528 0.6513 0.4295 37,632 2.0074 41.125 1,720,476
June 1.7552 2.0069 9.2160 1.9463 9.0955 86.25 1,392.33 3.4527 0.6549 0.4285 38,059 2.0233 41.507 1,664,000
July 1.7184 1.9386 8.5842 1.9465 8.8689 87.66 1,342.27 3.4528 0.6473 0.4274 37,148 1.9956 41.804 1,596,957
Aug. 1.7114 1.9137 8.2375 1.9463 8.6873 88.79 1,312.67 3.4527 0.6397 0.4264 37,166 1.9531 41.955 1,564,214
Sep. 1.6967 1.9227 8.2141 1.9469 8.7377 88.81 1,306.88 3.4530 0.6383 0.4265 37,918 1.9591 41.489 1,546,627
Oct. 1.6867 1.9446 8.1540 1.9473 9.0530 89.17 1,364.70 3.4525 0.6483 0.4281 38,803 2.0282 41.304 1,679,067
Nov. 1.6337 1.8608 7.8806 1.9476 9.0836 88.60 1,388.09 3.4528 0.6471 0.4275 39,927 2.0233 41.102 1,726,781
Dec. 1.6626 1.8982 7.9934 1.9533 9.5386 89.68 1,463.90 3.4525 0.6631 0.4304 40,573 2.1016 41.132 1,761,551
Sources: ECB Calculations: BNB/NBB
66 Statistical bulletin of the National Bank of Belgium (2003--IV)
10.2 EXCHANGE RATE MECHANISM - II10.2.1 EURO CENTRAL RATES AND COMPULSORY INTERVENTION RATES
(national currency units, dates of change)
1999
1 Jan.
DenmarkMaximum 7.62824
Central rate 7.46038
Minimum 7.29252
Source: ECB Calculations: ECB
N.B.: The upper and the lower intervention rates for the Danish krone are fixed to 2.25 pc ofthe central rate.
10.2.2 PREMIUM OR DISCOUNT OF THE DANISH KRONE VIS-À-VIS THE EURO
(daily averages)
Danish krone
1999 --0.33
2000 --0.09
2001 --0.11
2002 --0.40
2003 --0.40
2001 IV --0.25
2002 I --0.38
II --0.35
III --0.43
IV --0.43
2003 I --0.40
II --0.47
III --0.40
IV --0.32
2002 December --0.45
2003 January --0.37
February --0.38
March --0.44
April --0.47
May --0.48
June --0.47
July --0.36
August --0.38
September --0.44
October --0.41
November --0.31
December --0.25
Source: ECB Calculations: BNB/NBB
N.B.: Formula = {[(Rate - Central Rate) x 100] / Central Rate} where :-Rate = exchange rate for the foreign currency vis-à-vis the euro (2.15 p.m. concertation).-Central Rate = pivot rate for that currency vis-à-vis the euro.
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10.3 NOMINAL EFFECTIVE EXCHANGE RATE
(indices year 1990 = 100)
Euro Australian dollar Canadian dollar Swiss franc Danish krone Pound sterling Japanese yen Norwegian krone New Zealand dol-lar
Swedish krona US dollar
1994 93.76 89.12 84.14 105.31 103.64 88.48 148.15 94.95 96.95 80.42 98.17
1995 98.38 85.62 81.94 112.56 108.01 84.30 155.19 97.60 102.58 80.05 92.70
1996 98.49 94.33 83.87 111.00 106.96 85.95 135.18 97.74 110.27 87.89 97.06
1997 90.48 95.57 84.98 104.52 103.78 99.94 129.24 98.03 112.89 84.67 105.24
1998 92.65 85.87 81.15 107.39 105.17 104.36 126.75 94.31 98.30 83.66 113.21
1999 87.36 85.39 80.01 105.53 103.12 103.42 145.82 93.02 94.12 81.85 109.83
2000 78.24 79.03 81.03 103.79 98.43 106.29 161.07 90.53 84.43 81.33 113.51
2001 79.70 74.35 79.36 108.04 99.94 104.98 147.90 93.00 83.34 74.69 121.22
2002 82.15 77.12 77.85 112.80 101.04 105.52 140.20 101.03 90.28 76.31 119.93
2003 91.52 85.15 84.66 113.28 105.08 100.41 140.04 99.14 102.54 80.43 107.45
2001 IV 79.90 74.09 77.91 110.97 100.37 105.40 145.73 94.32 83.01 72.96 122.42
2002 I 79.50 76.68 77.94 110.93 100.03 106.28 137.30 95.72 86.39 75.35 125.87
II 81.08 79.14 79.04 112.39 100.57 104.78 139.82 100.36 91.05 75.90 121.27
III 83.38 75.55 77.36 113.70 101.60 105.22 144.01 103.24 89.61 76.20 116.08
IV 84.50 77.12 77.06 114.18 101.96 105.80 139.65 104.81 94.09 77.80 116.48
2003 I 88.48 79.46 79.17 116.15 103.77 102.40 139.65 103.39 100.60 78.66 111.84
II 92.51 84.34 84.86 113.97 105.59 99.42 137.01 100.07 101.25 80.61 108.08
III 91.79 86.48 85.89 111.52 105.35 99.39 138.28 96.19 103.25 80.24 107.70
IV 93.27 90.33 88.72 111.48 105.62 100.43 145.22 96.90 105.08 82.20 102.20
2002 Dec. 85.44 77.23 77.35 114.56 102.36 105.34 139.07 105.62 96.08 78.14 115.39
2003 Jan. 87.44 78.18 77.58 116.01 103.19 103.96 140.12 106.22 99.37 78.26 112.43
Feb. 88.67 79.60 78.95 116.18 103.79 102.52 138.82 103.79 101.27 79.05 111.79
March 89.39 80.60 80.99 116.27 104.33 100.71 140.02 100.17 101.15 78.68 111.30
April 90.04 81.76 81.84 114.43 104.56 99.99 138.33 100.52 100.45 79.53 111.35
May 93.57 84.64 85.51 114.63 106.02 98.21 137.31 101.64 101.58 80.87 106.75
June 93.80 86.62 87.24 112.85 106.18 100.06 135.38 98.05 101.71 81.42 106.13
July 92.60 86.95 85.94 111.76 105.70 99.64 136.32 96.08 103.54 80.38 107.57
Aug. 91.54 86.10 85.09 111.79 105.33 99.20 137.35 96.08 103.71 79.50 108.71
Sep. 91.17 86.39 86.64 111.02 105.03 99.33 141.17 96.41 102.50 80.85 106.81
Oct. 92.47 88.19 88.44 111.51 105.42 99.98 145.30 96.51 102.27 81.89 103.14
Nov. 92.38 90.86 89.22 110.70 105.24 100.66 145.70 96.80 106.13 81.98 102.87
Dec. 94.98 91.93 88.49 112.22 106.19 100.65 144.67 97.40 106.83 82.72 100.59
Source: BIS Calculations: BNB/NBB
68 Statistical bulletin of the National Bank of Belgium (2003--IV)
10.4 IRREVOCABLY FIXED CONVERSION RATES TO THE EURO
1999 2001
1 Jan. 1 Jan.
BEF 40.3399
DEM 1.95583
ESP 166.386
FRF 6.55957
IEP 0.787564
ITL 1,936.27
LUF 40.3399
NLG 2.20371
ATS 13.7603
PTE 200.482
FIM 5.94573
GRD - 340.750
Source: E.C.
N.B.: It concerns the conversion rates fixed by the European Commission in accordance with article 109.L4 of theTreaty.
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11 CHAPTER 11: PUBLIC FINANCES11.1 NET BORROWING (-) OR LENDING (+) OF GENERAL GOVERNMENT AND OF ITS SUB-SECTORS
(millions of euro and percentages of GDP)
Federal government Communities andregions
Local authorities Social securityfunds
General government Deficit (Maastricht definition)Federal government Communities andregions
Local authorities Social securityfunds
Total As p.c. of GDP Total As p.c. of GDPTotal
of which: Total
Total As p.c. of GDP
Entity I Entity II
Total
1993 --10,694.0 --1,501.9 --447.4 --910.2 --13,553.5 --6.3 --1.1 --7.3 --13,510.4 --7.3
1994 --8,978.4 --1,685.3 --102.7 1,000.5 --9,765.9 --4.1 --0.9 --5.0 --9,711.1 --5.0
1995 --7,772.3 --1,467.3 606.8 --135.4 --8,768.2 --3.9 --0.4 --4.3 --8,765.6 --4.3
1996 --7,109.5 --774.6 487.9 --476.3 --7,872.5 --3.7 --0.1 --3.8 --7,797.1 --3.8
1997 --5,351.0 --194.4 422.6 860.3 --4,262.5 --2.1 0.1 --2.0 --4,244.5 --2.0
1998 --3,703.2 627.6 381.9 1,037.8 --1,655.9 --1.2 0.4 --0.7 --1,570.3 --0.7
1999 --3,714.3 889.5 196.3 1,595.1 --1,033.4 --0.9 0.5 --0.4 --1,015.7 --0.4
2000 --1,125.2 568.4 --568.3 1,430.1 305.0 0.1 0.0 0.1 410.4 0.2
2001 --2,249.5 1,920.0 --188.2 1,780.3 1,262.6 --0.2 0.7 0.5 1,402.0 0.6
2002 --714.0 --463.6 447.8 829.1 99.3 0.0 0.0 0.0 232.4 0.1
Sources: NAI, NBB
N.B.: According to the European Regulation No 2223/96, the accounts of the general government are established following the ESA 1995 methodology. More information on the conceptual modifications can be found in the NAI publication ”Comptes nationaux 1998 - Partie2 - Comptes des administrations publiques”. The tables 11.2.1 tot 11.2.5 are developed starting from this source. Following Regulation (EC) No 2558/2001, the deficit of the general government according to the excessive deficit procedure (Treaty of Maastricht) is no longerequivalent to the net borrowing/net lending of general government according to ESA 1995, because the interest rate payments resulting from the swap agreements and forward rate agreements are dealt with differently.
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11.2 RECEIPTS, EXPENDITURE AND NET BORROWING11.2.1 RECEIPTS, EXPENDITURE AND NET BORROWING OF GENERAL GOVERNMENT
(millions of euro)
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
ReceiptsFiscal and parafiscal receipts 80,894.9 85,716.6 88,966.5 91,817.0 97,193.3 102,332.8 106,266.0 111,534.5 114,735.4 118,923.5
Direct taxes 29,347.8 31,487.5 33,737.4 34,443.9 37,065.2 39,714.9 40,289.9 42,947.9 44,714.3 45,786.7
Individuals 25,386.8 26,830.3 28,613.5 28,576.4 30,394.5 31,522.9 32,086.1 34,300.9 36,109.5 37,110.0
Companies 3,895.2 4,585.7 5,018.9 5,767.6 6,550.2 8,067.1 8,005.8 8,370.9 8,378.1 8,412.2
Indirect taxes 22,414.6 24,191.1 24,633.9 26,294.4 27,918.8 28,972.2 31,074.7 32,394.1 32,185.0 33,744.2
Actual social security contributions 28,419.1 29,290.3 29,834.0 30,248.4 31,393.3 32,689.4 33,879.2 35,017.7 36,629.9 38,125.5
Capital taxes 713.4 747.7 761.2 830.3 816.0 956.3 1,022.2 1,174.8 1,206.2 1,267.1
Non-fiscal and non-parafiscal receipts 8,528.6 8,585.8 9,097.0 9,780.9 10,208.5 10,299.8 10,791.0 11,122.4 12,136.2 12,456.9
Total Receipts 89,423.5 94,302.4 98,063.5 101,597.9 107,401.8 112,632.6 117,057.0 122,656.9 126,871.6 131,380.4
ExpenditureCurrent expenditure excluding interestcharges 76,519.5 79,412.6 82,507.2 85,484.8 87,749.5 90,726.9 94,143.5 97,783.3 102,691.3 108,589.9
Compensation of employees 21,959.9 23,156.7 24,109.1 24,590.2 25,424.4 26,138.1 27,304.2 28,294.3 29,548.7 31,182.1
Intermediate consumption and paid ta-xes 5,303.0 5,484.0 5,582.4 5,928.7 6,342.2 6,712.8 7,157.0 7,596.9 8,145.1 8,846.1
Social benefits 42,545.1 43,845.3 45,718.3 47,427.9 48,361.8 49,771.3 51,292.9 53,282.7 55,998.3 59,189.0
Health care 10,102.8 10,313.7 11,155.2 11,972.8 11,830.8 12,422.0 13,145.2 13,933.9 14,959.9 15,368.9
Sickness and disability benefits 2,415.6 2,430.5 2,482.0 2,543.3 2,546.7 2,634.1 2,721.8 2,839.6 3,023.3 3,261.7
Unemployment 4,224.4 4,307.3 4,218.8 4,421.8 4,462.2 4,529.6 4,492.0 4,380.6 4,629.4 5,266.9
Early retirement pensions and careertermination 1,429.3 1,426.4 1,425.4 1,435.3 1,445.9 1,415.2 1,411.8 1,398.7 1,440.5 1,518.5
Pensions 16,159.5 16,825.1 17,541.1 18,078.6 18,875.6 19,440.2 19,925.2 20,572.0 21,384.3 22,369.5
Family allowances 3,799.6 3,863.2 3,961.3 4,105.2 4,179.0 4,241.6 4,261.3 4,323.5 4,446.1 4,572.9
Other 4,413.9 4,679.1 4,934.5 4,870.9 5,021.6 5,088.6 5,335.6 5,834.4 6,114.8 6,830.6
Subsidies to enterprises 2,964.8 2,897.6 3,038.4 3,233.5 3,032.2 3,332.6 3,453.0 3,692.1 4,003.8 4,067.4
Current transfers tot the rest of the world 883.4 1,030.3 892.1 1,304.5 1,506.4 1,673.2 1,780.8 1,841.1 1,853.0 2,112.0
Other current transfers 2,863.3 2,998.7 3,166.9 3,000.0 3,082.5 3,098.9 3,155.6 3,076.2 3,142.4 3,193.3
Interest charges 20,524.9 18,716.1 18,706.3 18,326.2 17,303.5 17,045.7 16,473.8 16,799.7 16,785.4 15,809.0
Capital expenditure 5,932.6 5,939.6 5,618.2 5,659.4 6,611.3 6,515.9 7,473.1 7,768.9 6,132.3 6,882.2
Gross capital formation 3,627.6 3,818.0 3,556.5 3,370.0 3,432.7 3,495.5 4,223.7 4,488.9 3,960.6 4,088.2
Other capital expenditure 2,305.0 2,121.6 2,061.7 2,289.4 3,178.6 3,020.4 3,249.4 3,280.0 2,171.7 2,794.0
Total Expenditure 102,977.0 104,068.3 106,831.7 109,470.4 111,664.3 114,288.5 118,090.4 122,351.9 125,609.0 131,281.1
Net lending (+) or borrowing (-) --13,553.5 --9,765.9 --8,768.2 --7,872.5 --4,262.5 --1,655.9 --1,033.4 305.0 1,262.6 99.3
Primary balance 6,971.4 8,950.2 9,938.1 10,453.7 13,041.0 15,389.8 15,440.4 17,104.7 18,048.0 15,908.3
Sources: NAI, NBB
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11.2.2 RECEIPTS, EXPENDITURE AND NET BORROWING OF FEDERAL GOVERNMENT
(millions of euro)
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
ReceiptsFiscal and parafiscal receipts 47,632.2 50,799.8 53,203.1 55,087.6 58,349.2 61,940.8 64,194.0 68,576.5 69,306.5 68,962.5
Direct taxes 27,899.8 29,427.9 31,458.2 32,112.7 34,399.7 37,056.0 37,439.0 40,524.3 41,683.0 41,843.0
Individuals 24,030.8 24,893.5 26,455.7 26,363.6 27,949.9 29,094.2 29,449.7 32,059.4 33,261.0 33,375.3
Companies 3,803.2 4,462.9 4,897.5 5,649.2 6,329.3 7,836.9 7,791.3 8,188.8 8,195.3 8,203.2
Indirect taxes 18,619.6 20,180.9 20,449.7 21,699.0 22,590.7 23,518.3 25,353.6 26,598.0 26,172.3 25,670.2
Actual social security contributions 981.3 1,051.0 1,180.7 1,182.8 1,255.8 1,254.1 1,272.2 1,321.3 1,317.7 1,365.7
Capital taxes 131.5 140.0 114.5 93.1 103.0 112.4 129.2 132.9 133.5 83.6
Non-fiscal and non-parafiscal receipts 3,146.2 3,158.4 3,194.8 3,479.8 3,825.6 3,541.5 3,306.9 3,796.0 4,779.6 4,387.5
Transfers from other public authorities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Other current transfers and capital transfers fromother public authorities 372.0 333.6 303.8 226.5 207.1 232.4 253.1 255.8 414.3 242.1
Total Receipts 51,150.4 54,291.8 56,701.7 58,793.9 62,381.9 65,714.7 67,754.0 72,628.3 74,500.4 73,592.1
ExpenditureCurrent expenditure excluding interest charges 40,823.1 44,501.4 45,993.7 47,844.8 49,866.1 51,720.5 54,096.2 55,752.6 58,845.7 58,251.7
Compensation of employees 5,525.5 5,816.3 5,932.6 5,876.3 6,086.8 6,231.6 6,517.3 6,659.7 6,948.6 7,003.8
Intermediate consumption and paid taxes 1,570.4 1,656.6 1,593.8 1,632.2 1,699.8 1,778.6 1,885.4 2,128.5 2,239.3 2,261.0
Social benefits 4,803.2 4,910.7 5,199.3 5,269.6 5,608.7 5,658.7 5,751.1 5,904.5 6,051.8 6,145.3
Subsidies to enterprises 1,346.1 1,290.9 1,393.3 1,462.9 1,310.1 1,395.7 1,442.3 1,439.7 1,418.2 1,335.5
Current transferts tot the rest of the world 874.5 1,022.3 867.3 1,293.5 1,490.8 1,653.1 1,766.7 1,831.1 1,843.3 2,095.6
Other current transfers 891.3 946.5 993.6 953.6 761.0 778.3 801.0 804.0 868.8 899.3
Fiscal receipt transfers to other public authorities 17,068.4 19,919.9 21,020.6 22,114.5 23,753.9 24,798.4 26,246.0 26,885.2 28,873.0 27,115.6
Other current transfers tot other public authorities 8,743.7 8,938.2 8,993.2 9,242.2 9,155.0 9,426.1 9,686.4 10,099.9 10,602.7 11,395.6
Interest charges 19,020.0 16,977.7 16,985.4 16,570.9 15,742.1 15,761.1 15,234.9 15,590.5 15,655.2 14,670.2
Capital expenditure 2,001.3 1,791.1 1,494.9 1,487.7 2,124.7 1,936.3 2,137.2 2,410.4 2,249.0 1,384.2
Gross capital formation 655.4 595.1 605.1 662.4 551.9 525.2 586.0 567.4 306.6 497.1
Other capital expenditure 1,105.6 814.6 640.7 679.8 1,429.5 1,253.0 1,323.6 1,371.8 449.0 799.1
Capital transfers to other public authorities 240.3 381.4 249.1 145.5 143.3 158.1 227.6 471.2 1,493.4 88.0
Total Expenditure 61,844.4 63,270.2 64,474.0 65,903.4 67,732.9 69,417.9 71,468.3 73,753.5 76,749.9 74,306.1
Net lending (+) or borrowing (-) --10,694.0 --8,978.4 --7,772.3 --7,109.5 --5,351.0 --3,703.2 --3,714.3 --1,125.2 --2,249.5 --714.0
Sources: NAI, NBB
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11.2.3 RECEIPTS, EXPENDITURE AND NET BORROWING OF COMMUNITIES AND REGIONS
(millions of euro)
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
ReceiptsFiscal and parafiscal receipts 1,861.0 1,883.4 1,989.4 2,265.4 2,405.8 2,626.5 2,791.4 2,925.4 3,056.7 5,448.9
Direct taxes 29.4 19.5 21.9 32.5 17.0 24.3 24.6 20.2 82.8 813.1
Individuals 29.4 19.5 21.9 32.5 17.0 24.3 24.6 20.2 82.8 813.1
Companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Indirect taxes 1,249.7 1,256.2 1,320.8 1,495.7 1,675.8 1,758.3 1,873.8 1,863.3 1,901.2 3,452.3
Actual social security contributions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Capital taxes 581.9 607.7 646.7 737.2 713.0 843.9 893.0 1,041.9 1,072.7 1,183.5
Non-fiscal and non-parafiscal receipts 2,476.2 2,521.1 2,741.4 2,957.3 3,071.3 3,396.9 3,629.4 3,680.3 3,938.5 4,517.7
Fiscal receipt transfers from other public authorities 16,678.4 17,861.3 18,744.1 19,302.8 20,675.1 21,682.2 22,864.4 23,033.6 25,298.0 22,488.0
Other current transfers and capital transfers fromother public authorities 1,912.7 1,885.6 2,216.8 2,294.2 2,432.3 2,629.2 2,677.2 2,887.6 3,098.3 3,397.7
Total Receipts 22,928.3 24,151.4 25,691.7 26,819.7 28,584.5 30,334.8 31,962.4 32,526.9 35,391.5 35,852.3
ExpenditureCurrent expenditure excluding interest charges 21,394.8 22,383.3 23,284.6 23,717.1 24,673.6 25,615.2 26,554.3 27,483.5 28,953.3 31,483.8
Compensation of employees 9,172.4 9,693.4 10,247.7 10,538.9 10,956.4 11,360.5 11,877.4 12,344.1 12,915.9 13,910.9
Intermediate consumption and paid taxes 1,849.5 1,865.5 1,990.9 2,170.4 2,304.4 2,509.9 2,659.4 2,784.9 3,110.0 3,685.6
Social benefits 2,389.1 2,634.5 2,781.7 2,964.6 3,156.4 3,263.7 3,544.8 3,821.7 4,124.1 4,700.2
Subsidies to enterprises 1,335.9 1,317.4 1,272.4 1,350.6 1,294.9 1,403.4 1,349.1 1,420.7 1,566.2 1,677.7
Current transfers from the rest of the world 8.9 8.0 24.8 11.0 15.6 20.1 14.1 10.0 9.7 16.4
Other current transfers 1,648.2 1,761.3 1,707.2 1,621.0 1,898.2 1,868.6 1,714.7 1,676.9 1,587.1 1,577.1
Fiscal receipt transfers to other public authorities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Other current transfers to other public authorities 4,990.8 5,103.2 5,259.9 5,060.6 5,047.7 5,189.0 5,394.8 5,425.2 5,640.3 5,915.9
Interest charges 482.1 651.2 686.6 709.3 634.6 666.4 600.8 604.5 605.2 608.9
Capital expenditure 2,553.3 2,802.2 3,187.8 3,167.9 3,470.7 3,425.6 3,917.8 3,870.5 3,913.0 4,223.2
Gross capital formation 1,128.9 1,159.5 1,277.8 1,144.5 1,259.1 1,290.0 1,471.4 1,387.0 1,531.4 1,696.8
Other capital expenditure 1,023.5 1,171.0 1,385.0 1,512.9 1,630.1 1,569.3 1,766.1 1,754.0 1,628.9 1,887.2
Capital transfers to other public authorities 400.9 471.7 525.0 510.5 581.5 566.3 680.3 729.5 752.7 639.2
Total Expenditure 24,430.2 25,836.7 27,159.0 27,594.3 28,778.9 29,707.2 31,072.9 31,958.5 33,471.5 36,315.9
Net lending (+) or borrowing (-) --1,501.9 --1,685.3 --1,467.3 --774.6 --194.4 627.6 889.5 568.4 1,920.0 --463.6
Sources: NAI, NBB
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11.2.4 RECEIPTS, EXPENDITURE AND NET BORROWING OF LOCAL GOVERNMENT
(millions of euro)
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
ReceiptsFiscal and parafiscal receipts 3,651.3 4,158.6 4,414.3 4,619.8 4,883.8 4,807.7 5,140.8 4,734.6 5,378.8 5,905.1
Direct taxes 1,325.5 1,656.4 1,801.1 1,786.8 1,943.4 1,834.6 2,029.7 1,619.8 2,095.2 2,252.5
Individuals 1,325.5 1,656.4 1,801.1 1,786.8 1,943.4 1,834.6 2,029.7 1,619.8 2,095.2 2,252.5
Companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Indirect taxes 2,234.5 2,410.4 2,533.6 2,760.8 2,920.2 2,957.2 3,095.2 3,098.9 3,267.7 3,636.6
Actual social security contributions 91.3 91.8 79.6 72.2 20.2 15.9 15.9 15.9 15.9 16.0
Capital taxes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Non-fiscal and non-parafiscal receipts 2,582.4 2,656.6 2,942.5 3,092.0 3,142.1 3,234.3 3,341.3 3,433.8 3,262.8 3,372.0
Fiscal receipts transfers from other public authorities 0.0 74.4 42.1 74.4 74.4 83.0 94.5 94.4 77.5 40.9
Other current transfers and capital transfers fromother public authorities 6,026.2 6,388.5 6,582.8 6,495.1 6,529.9 6,681.3 7,069.3 7,632.5 7,658.5 8,316.4
Total Receipts 12,259.9 13,278.1 13,981.7 14,281.3 14,630.2 14,806.3 15,645.9 15,895.3 16,377.6 17,634.4
ExpenditureCurrent expenditure exlcuding interest charges 9,612.5 10,147.9 10,712.7 11,153.6 11,577.8 11,880.7 12,443.3 13,094.8 13,684.8 14,522.8
Compensation of employees 6,463.7 6,824.8 7,054.4 7,255.2 7,497.6 7,649.3 7,967.0 8,341.5 8,684.1 9,204.6
Intermediate consumption and paid taxes 1,372.9 1,423.0 1,456.9 1,582.6 1,724.9 1,792.3 1,964.5 2,031.0 2,108.3 2,176.8
Social benefits 1,352.8 1,453.4 1,521.9 1,579.7 1,606.3 1,594.1 1,616.6 1,796.3 1,834.4 2,053.3
Subsidies to enterprises 179.7 183.2 273.1 302.8 297.2 331.2 333.8 348.2 392.7 400.6
Current transfers to the rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Other current transfers 226.7 244.4 297.6 329.1 347.0 384.1 445.7 461.3 525.5 524.7
Fiscal receipts transfers to other public authorities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Other current transfers to other public authorities 16.7 19.1 108.8 104.2 104.8 129.7 115.7 116.5 139.8 162.8
Interest charges 1,113.9 1,081.6 999.2 1,033.4 955.4 770.5 749.9 751.2 800.1 789.0
Capital expenditure 1,980.9 2,151.3 1,663.0 1,606.4 1,674.4 1,773.2 2,256.4 2,617.6 2,080.9 1,874.8
Gross capital formation 1,812.9 2,017.7 1,640.5 1,527.2 1,584.2 1,637.9 2,119.4 2,485.3 2,004.0 1,784.3
Other capital expenditure 167.0 129.5 22.5 75.5 87.9 133.5 133.4 128.4 74.0 87.8
Capital transfers to other public authorities 1.0 4.1 0.0 3.7 2.3 1.8 3.6 3.9 2.9 2.7
Total Expenditure 12,707.3 13,380.8 13,374.9 13,793.4 14,207.6 14,424.4 15,449.6 16,463.6 16,565.8 17,186.6
Net lending (+) or borrowing (+) --447.4 --102.7 606.8 487.9 422.6 381.9 196.3 --568.3 --188.2 447.8
Sources: NAI, NBB
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11.2.5 RECEIPTS, EXPENDITURE AND NET BORROWING OF SOCIAL SECURITY FUNDS
(millions of euro)
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
ReceiptsFiscal and parafiscal receipts 27,750.4 28,874.8 29,359.7 29,844.2 31,554.5 32,957.8 34,139.8 35,298.0 36,993.4 38,607.0
Direct taxes 93.1 383.7 456.2 511.9 705.1 800.0 796.6 783.6 853.3 878.1
Individuals 1.1 260.9 334.8 393.5 484.2 569.8 582.1 601.5 670.5 669.1
Companies 92.0 122.8 121.4 118.4 220.9 230.2 214.5 182.1 182.8 209.0
Indirect taxes 310.8 343.6 329.8 338.9 732.1 738.4 752.1 833.9 843.8 985.1
Actual social security contributions 27,346.5 28,147.5 28,573.7 28,993.4 30,117.3 31,419.4 32,591.1 33,680.5 35,296.3 36,743.8
Capital taxes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Non-fiscal and non-parafiscal receipts 500.3 382.8 349.4 379.0 372.2 431.0 760.5 455.9 448.6 446.8
Fiscal receipt transfers from other public authorities 390.0 1,984.2 2,234.4 2,737.3 3,004.4 3,033.2 3,287.1 3,757.2 3,497.5 4,586.7
Other current transfers and capital transfers from other publicauthorities 6,122.7 6,378.6 6,083.4 6,095.1 5,914.9 6,005.1 6,251.9 6,238.4 7,792.0 6,425.2
Total Receipts 34,763.4 37,620.4 38,026.9 39,055.6 40,846.0 42,427.1 44,439.3 45,749.5 48,731.5 50,065.7
ExpenditureCurrent expenditure excluding interest charges 35,548.9 36,429.0 37,949.5 39,335.0 39,743.0 41,130.7 42,635.7 44,147.3 46,623.6 49,098.7
Compensation of employees 798.3 822.2 874.4 919.8 883.6 896.7 942.5 949.0 1,000.1 1,062.8
Intermediate consumption and paid taxes 510.2 538.9 540.8 543.5 613.1 632.0 647.7 652.5 687.5 722.7
Social benefits 34,000.0 34,846.7 36,215.4 37,614.0 37,990.4 39,254.8 40,380.4 41,760.2 43,988.0 46,290.2
Health care 9,198.7 9,452.3 10,126.9 10,869.3 10,753.9 11,369.1 12,054.5 12,827.9 13,814.7 14,229.3
Sickness and disability benefits 2,415.6 2,430.5 2,482.0 2,543.3 2,546.7 2,634.1 2,721.8 2,839.6 3,023.3 3,261.7
Unemployment 4,224.4 4,307.3 4,218.8 4,421.8 4,462.2 4,529.6 4,492.0 4,380.6 4,629.4 5,266.9
Early retirement pensions and career termination 1,429.3 1,426.4 1,425.4 1,435.3 1,445.9 1,415.2 1,411.8 1,398.7 1,440.5 1,518.5
Pensions 12,178.8 12,561.3 13,049.9 13,452.0 13,845.8 14,238.3 14,606.8 15,031.9 15,628.1 16,272.8
Family allowances 3,358.8 3,415.5 3,497.0 3,566.5 3,615.0 3,656.6 3,660.8 3,718.4 3,804.5 3,917.9
Other 1,194.4 1,253.4 1,415.4 1,325.8 1,320.9 1,411.9 1,432.7 1,563.1 1,647.5 1,823.1
Subsidies to enterprises 103.1 106.1 99.6 117.2 130.0 202.3 327.8 483.5 626.7 653.6
Current transfers to the rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Other current transfers 97.1 46.5 168.5 96.3 76.3 67.9 194.2 134.0 161.0 192.2
Fiscal receipt transfers to other public authorities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Other current transfers from other public authorities 40.2 68.6 50.8 44.2 49.6 77.0 143.1 168.1 160.3 177.2
Interest charges 85.4 138.7 166.2 139.8 174.1 151.6 135.3 97.1 18.2 8.0
Capital expenditure 39.3 52.2 46.6 57.1 68.6 107.0 73.2 75.0 309.4 129.9
Gross capital formation 30.4 45.7 33.1 35.9 37.5 42.4 46.9 49.2 118.6 110.0
Other capital expenditure 8.9 6.5 13.5 21.2 31.1 64.6 26.3 25.8 19.8 19.9
Capital transfers to other public authorities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 171.0 0.0
Total Expenditure 35,673.6 36,619.9 38,162.3 39,531.9 39,985.7 41,389.3 42,844.2 44,319.4 46,951.2 49,236.6
Net lending (+) or borrowing (-) --910.2 1,000.5 --135.4 --476.3 860.3 1,037.8 1,595.1 1,430.1 1,780.3 829.1
Sources: NAI, NBB
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11.3 DETAILS OF REVENUE COLLECTED BY THE TREASURY
(cumulative monthly data, millions of euro)
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 20031993 1994 1995 1996 1997 1998 1999 2000 2001
year Jan.-Oct. Jan.-Oct.
Current revenue 51,197 56,800 56,493 58,784 62,066 65,974 68,488 72,350 74,371 76,763 62,308 62,762Fiscal revenue 47,333 52,415 53,727 55,791 59,790 63,523 65,990 69,758 71,448 73,064 59,735 60,106
Direct taxes 1 2 27,081 30,394 31,646 32,659 35,149 37,597 38,637 40,685 42,479 43,368 35,843 35,557
Advance levy on pro-fessional income 19,434 20,939 21,582 22,447 23,657 24,790 26,365 27,811 29,098 30,624 25,590 25,243
Advance payments 5,092 5,788 6,441 6,733 7,604 9,186 8,845 9,236 9,208 8,618 7,059 7,035
Assessment of com-panies --320 --179 --23 44 --8 73 162 144 441 807 736 765
Assessment of natu-ral persons --812 --463 --531 --749 --603 --936 --776 --940 --1,133 --967 --1,078 --1,342
Financial assets 2,458 2,820 2,890 2,520 2,610 2,438 2,208 2,339 2,371 2,278 2,054 1,960
Road taxes 895 990 1,075 1,154 1,252 1,255 1,304 1,341 1,427 1,473 1,159 1,190
Other 334 499 212 510 637 791 529 754 1,067 535 323 706
Customs and exciseduties 5,188 5,699 5,817 6,034 6,517 6,793 6,849 7,100 7,181 7,436 6,205 6,402
Customs duties 844 947 992 977 1,142 1,216 1,193 1,297 1,353 1,429 1,195 1,314
Excise duties 4,222 4,466 4,552 4,763 5,093 5,309 5,412 5,592 5,628 5,808 4,848 4,867
Excise duties onmineral oils 2,749 2,918 2,966 3,102 3,239 3,428 3,453 3,468 3,514 3,592 2,994 2,883
Excise duties on to-bacco 884 939 988 1,044 1,128 1,180 1,243 1,360 1,328 1,467 1,227 1,314
Other excise duties 589 609 598 616 726 701 716 764 786 749 627 669
Other 122 286 272 295 282 268 244 210 200 198 161 220
VAT, registration feesand royalties 15,063 16,321 16,264 17,098 18,123 19,133 20,504 21,974 21,787 22,260 17,687 18,147
Registration fees 1,301 1,391 1,310 1,473 1,641 1,874 1,961 2,027 2,090 2,118 1,766 1,827
VAT 13,474 14,599 14,608 15,228 16,041 16,809 18,059 19,477 19,177 19,650 15,487 15,841
Other 288 331 345 397 441 451 484 470 520 492 434 479
Non-fiscal revenue 3,865 4,386 2,767 2,993 2,277 2,451 2,499 2,592 2,924 3,699 2,573 2,656
Capital revenue 633 869 2,374 1,407 1,187 1,125 1,071 1,109 1,635 2,082 1,434 3,865Fiscal revenue 569 597 635 727 709 842 907 1,029 1,072 1,097 904 962
Non-fiscal revenue 64 272 1,739 680 479 284 164 80 563 985 530 2,903
Total revenue 51,831 57,670 58,867 60,190 63,254 67,099 69,560 73,459 76,006 78,846 63,742 66,627
Sources: MF, NBB
N.B.: Data concerning the ”Central government operations” are, as required by the SDDS of the IMF, disseminated on the website ofthe Bank ”www.nbb.be”. Excluding the additional centimes accruing to the provinces, municipalities and the Brussels conglomerate.
1 Including, the change, compared with the end of the proceding year, in the outstanding amount of the direct taxes which have alreadybeen collected but not yet broken down among the various tax categories.
2 The data have been corrected in order to take account of the non-repayment in connection with the 1991 assessments and of thepayment in the form of linear bonds in 1992 and 1993 of part of the fictitious on income from financial assets relating to the operationsof liquidation of companies.
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11.4 DEBT OF GENERAL GOVERNMENT
(situation at end of period, millions of euro)
Gross debt Financial assets Net debt Consolidated gross debt (Maastricht definition) 1
In foreigncurrencies
In national currency 2 Total Placed withgeneral gov-
Other 4 Total
Net debt
Total 1 by sub-sector: Total asp.c. of GDP
In foreigncurrencies
At over oneyear 5
At up to oneyear 5
of which:other ac-countspayable 6
Total 2
Total Placed withgeneral gov-ernment 3
Other Total Total
Federalgovernment
Communi-ties and re-gions
Local gov-ernment
Social secu-rity funds
Total asp.c. of GDP
(1) (2) (3) (4) (5) = (2) + (3) (6) = (1) + (5) (7) (8) (9) = (7) + (8) (10) = (6) -- (9) (11) = (6) -- (4)-- (7)
(12) (13) (14) (15) (16)
1993 37,614 180,384 56,608 13,988 236,992 274,606 5,387 30,357 35,744 238,862 255,230 227,054 11,550 14,524 2,102 137.9
1994 33,453 180,281 66,860 12,513 247,141 280,594 3,111 29,444 32,556 248,038 264,969 234,499 13,144 15,082 2,244 135.9
1995 26,905 203,510 55,699 11,376 259,208 286,113 3,901 26,734 30,635 255,478 270,836 239,236 14,372 14,744 2,484 134.0
1996 18,198 209,429 60,907 12,640 270,336 288,534 6,497 26,446 32,943 255,591 269,397 237,991 15,075 14,555 1,776 130.2
1997 19,050 211,136 61,801 12,351 272,937 291,987 8,664 25,134 33,798 258,189 270,972 239,884 15,314 13,793 1,981 124.8
1998 16,983 217,133 56,517 12,710 273,650 290,634 8,648 26,769 35,417 255,216 269,276 239,213 14,520 13,905 1,638 119.5
1999 9,658 232,689 51,215 13,502 283,904 293,562 9,358 29,542 38,900 254,662 270,702 241,573 14,005 13,803 1,320 114.8
2000 8,134 241,374 46,465 13,773 287,839 295,973 10,966 30,667 41,632 254,340 271,234 243,143 12,337 14,608 1,145 109.5
2001 6,803 249,690 47,154 12,769 296,844 303,648 14,871 33,643 48,514 255,134 276,007 248,951 12,106 14,950 0 108.8
2002 5,464 256,172 46,836 12,147 303,007 308,472 20,577 32,158 52,735 255,737 275,747 248,886 11,514 15,347 0 106.1
2001 II 6,972 248,466 46,297 10,055 294,764 301,736 9,370 38,243 47,613 254,123 282,310 255,397 12,655 14,258 0
III 6,863 254,277 44,621 10,047 298,898 305,761 11,953 36,983 48,936 256,825 283,761 257,037 12,482 14,242 0
IV 6,803 249,690 47,154 12,769 296,844 303,648 14,871 33,643 48,514 255,134 276,007 248,951 12,106 14,950 0
2002 I 6,771 253,751 46,968 10,158 300,719 307,490 13,261 36,820 50,081 257,409 284,070 257,531 12,195 14,345 0
II 6,362 248,528 49,023 9,194 297,551 303,913 12,539 36,941 49,480 254,434 282,180 255,338 12,250 14,593 0
III 5,888 251,002 47,488 8,817 298,490 304,378 14,369 32,502 46,871 257,507 281,192 255,046 11,629 14,517 0
IV 5,464 256,172 46,836 12,147 303,007 308,472 20,577 32,158 52,735 255,737 275,747 248,886 11,514 15,347 0
2003 I 6,117 247,157 55,070 9,087 302,227 308,344 14,787 33,842 48,629 259,715 284,470 257,605 12,026 14,839 0
II 5,803 253,967 48,756 9,177 302,723 308,525 14,973 37,116 52,089 256,437 284,376 257,244 12,198 14,934 0
Source: NBB
1 The consolidated gross debt is the debt as defined in European Regulation EC 3605/93 of 22nd November 1993 concerning theimplementation of the Protocol on the excessive deficit procedure annexed to the Treaty on European Union (Treaty of Maastricht)of 7th February 1992.
2 In Belgian francs until the end of 1998, in euro from 1999.3 Currency and deposits, loans and securities other than shares, excluding financial derivatives.
4 This heading covers, in particular, government shareholdings in corporations. However, only a partial census has so far been con-ducted on these shareholdings.
5 Original maturity.6 Mainly the accrued interests on the public debt, accruals and deferrals in respect of the payment of compensation and pensions
to certain public sector staff, the time-lags relating to the annual holiday payments made by the National Office for the Annual Holi-day (ONVA) to households and the invoices payable by the INAMI to hospitals.
77Statistical bulletin of the National Bank of Belgium (2003--IV)
11.5 FINANCIAL BALANCE OF GENERAL GOVERNMENT
(cumulative quarterly data, millions of euro)
New liabilities Formation of financial assets of which: Financial ba-lance 1
In foreigncurrencies
In national currency 2 Total At over oneyear
At up to oneyear
Total assetsplaced with
Financial ba-lance 1
In foreigncurrencies
At over oneyear
At up to oneyear
Total 2
Total At over oneyear
At up to oneyear
Total assetsplaced withgeneral gov-ernment 3
(1) (2) (3) (4) = (2) + (3) (5) = (1) + (4) (6) (7) (8) = (6) + (7) (9) (10) = (8) -- (5)
1993 11,130 11,464 --5,427 6,037 17,167 --493 3,876 3,383 968 --13,784
1994 --3,773 --359 10,251 9,893 6,120 --550 --2,375 --2,925 --2,281 --9,045
1995 --6,488 21,524 --9,726 11,798 5,310 270 --2,457 --2,187 786 --7,497
1996 --8,281 6,414 5,208 11,623 3,342 --6,797 1,815 --4,983 2,603 --8,324
1997 --29 2,925 894 3,820 3,791 --1,955 1,011 --944 2,185 --4,735
1998 --2,069 8,154 --5,283 2,871 801 --1,873 829 --1,044 19 --1,845
1999 --105 8,238 --5,302 2,936 2,831 --751 2,825 2,074 709 --756
2000 --1,849 8,599 --4,750 3,849 2,000 856 775 1,631 1,608 --369
2001 --1,377 6,997 --1,120 5,877 4,501 2,558 1,883 4,440 3,905 --60
2002 --1,214 6,457 --318 6,139 4,925 3,181 1,834 5,015 5,706 90
2001 II --1,270 5,682 --1,977 3,705 2,435 1,138 1,844 2,981 --1,596 546III --1,380 11,532 --3,653 7,879 6,498 2,917 1,898 4,814 988 --1,684IV --1,377 6,997 --1,120 5,877 4,501 2,558 1,883 4,440 3,905 --60
2002 I --86 4,049 --186 3,862 3,777 1,608 --309 1,299 --1,610 --2,477II --333 --1,145 1,869 723 390 1,695 --717 978 --2,332 588III --834 1,358 334 1,692 858 2,203 --2,613 --410 --502 --1,268IV --1,214 6,457 --318 6,139 4,925 3,181 1,834 5,015 5,706 90
2003 I 781 --8,986 8,234 --751 29 502 --4,249 --3,746 --5,791 --3,775II 783 --2,147 1,920 --226 557 776 --1,536 --761 --5,604 --1,318
1 The financial balance differs from the net lending or borrowing (-) - the concept used in Tables 11.1 and 11.2.1 - notably owing to differences in timing in the dating of the recording of transactionsbetween the two approaches and to imperfections in the compilation of the data.
2 In Belgian francs until the end of 1998, in euro from 1999.3 Currency and deposits, loans and securities other than shares, excluding financial derivatives.
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11.6 OFFICIAL DEBT AND NET BALANCE TO BE FINANCED OF THE TREASURY
(millions of euro)
Debt in euro (since 1999) (only in Belgian francs until end of 1998) Debt in foreign currencies 1 Grossdebt 2
Financialassets 2
Net debt 2 Net balan-ce to be fi-
Debt at over one year 4 5 Debt at up to one year 4 5 Total Debt atover one
Debt at up to one year 4 Total 1
Grossdebt 2
Financialassets 2
Net debt Net balan-ce to be fi-nanced(-) 3
of which: Total 4 5 of which: Total 4 5
Total Debt atover oneyear 4 of which: Total 4
Total nanced(-) 3
Linearbonds
Classicloans 6
State notes
Total
Treasurycertifica-tes 7
TreasuryBills
Assets ofindividualswith thePCO 8
Total year 4
BelgianTreasuryBills
Total
(1) (2) (3) (4) (5) (6) (7) (8) (9) = (4) + (8) (10) (11) (12) (13) = (10) +(12)
(14) = (9) +(13)
(15) (16) = (14) --(15)
(17)
1993 83,650 52,909 145,055 36,166 1,873 42,181 187,235 16,991 20,688 37,679 224,915 6,618 218,297 --9,329
1994 103,255 32,464 143,680 46,625 1,845 54,296 197,976 18,471 14,982 33,453 231,428 3,712 227,717 --7,762
1995 119,569 39,304 166,232 37,252 2,010 43,093 209,325 19,830 7,075 26,905 236,230 217 236,013 --7,192
1996 127,642 38,491 1,106 173,504 41,135 2,040 46,420 219,923 16,329 1,317 1,870 18,198 238,121 1,915 236,206 --6,020
1997 131,971 37,725 2,286 175,743 41,685 1,977 47,894 223,637 18,105 1,322 1,339 19,444 243,082 1,054 242,028 --5,093
1998 140,523 36,180 3,880 182,635 35,854 1,259 282 41,888 224,523 16,911 442 469 17,380 241,903 1,174 240,728 --2,821
1999 158,085 32,024 4,913 199,762 29,047 861 138 36,553 236,314 8,417 1,294 2,024 10,441 246,755 148 246,607 --3,647
2000 173,157 25,092 6,119 209,144 25,564 385 175 33,310 242,455 6,929 985 1,677 8,606 251,061 1,230 249,831 --555
2001 185,727 17,432 7,122 215,234 26,947 698 181 34,851 250,085 5,003 2,076 2,076 7,079 257,164 3,332 253,832 --1,857
2002 197,355 12,146 8,353 226,173 27,003 347 237 31,115 257,288 3,593 1,872 1,872 5,464 262,752 7,368 255,384 --1,778
2002 November 198,560 12,185 8,141 227,144 28,241 609 180 30,060 257,205 3,849 2,301 2,364 6,213 263,418 4,621 258,797 --5,248December 197,355 12,146 8,353 226,173 27,003 347 237 31,115 257,288 3,593 1,872 1,872 5,464 262,752 7,368 255,384 --1,778
2003 January 202,293 12,145 8,343 231,050 26,974 493 296 29,238 260,288 3,519 2,619 2,626 6,145 266,433 9,596 256,838 --1,552February 202,682 11,720 8,331 230,956 28,864 337 290 30,588 261,544 3,543 2,632 2,635 6,179 267,722 10,553 257,169 --1,789March 193,449 7,292 8,607 217,453 30,514 485 244 42,433 259,886 3,505 2,605 2,612 6,117 266,003 3,354 262,649 --7,409April 197,446 7,292 8,605 221,791 31,872 474 229 35,214 257,006 3,416 2,209 2,550 5,966 262,971 3,345 259,627 --4,604May 200,459 7,292 8,605 224,328 33,228 387 244 35,342 259,670 3,325 2,526 2,526 5,851 265,521 4,980 260,541 --6,107June 200,274 7,291 8,463 223,892 32,195 471 348 34,981 258,873 3,288 2,512 2,515 5,803 264,676 4,902 259,774 --5,508July 203,325 7,200 8,462 227,616 32,008 316 303 36,800 264,416 3,313 2,493 2,493 5,806 270,223 12,041 258,182 --3,067August 203,140 7,172 8,461 227,390 31,193 378 253 36,206 263,596 3,403 2,508 2,508 5,912 269,508 11,262 258,245 --3,024September 202,885 7,170 8,291 227,022 30,403 677 109 35,564 262,586 3,368 2,503 2,503 5,871 268,457 6,157 262,300 --7,057October 203,962 7,147 8,289 227,446 30,424 468 331 32,791 260,237 3,374 2,204 2,204 5,577 265,814 4,592 261,222 --4,155November 205,283 7,053 8,288 230,313 28,432 888 300 31,377 261,690 3,330 1,659 1,659 4,990 266,680 1,603 265,077 --7,994
Source: MF
1 Until end of 1998: all currencies other than Belgian franc.Since 1999: foreign currencies outside euro-zone.The breakdown euro/non-euro, on a monthly basis (since 1990), is available on the website of the Bank: www.nbb.be
2 Situation at end of period.3 Cumulative monthly data.4 Original maturity.
5 Since 2002, the Tresaury certificates transferred to international organisations are included in the debt at over one year rather thanin the debt at up to one year.
6 Public loans issued by the Treasury and the Road Fund.7 Except the Treasury certificates transferred to international organisations.8 Including the shareholder’s equity on the Post.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 1998-IV, p 16 and 1999-I, p 14.
79Statistical bulletin of the National Bank of Belgium (2003--IV)
11.7 DEBT AND NET FINANCIAL BALANCE OF THE COMMUNITIES AND REGIONS
(millions of euro)
Gross debt 1 Financial assets 1 Net debt 1 Net financial balance(-) 2
At over one year 1 3 At up to one year 1 3 Total 1
Financial assets Net debt Net financial balance(-) 2
(1) (2) (3) = (1) + (2) (4) (5) = (3) -- (4) (6)
1993 3,859 122 3,981 332 3,649 --1,294
1994 5,267 95 5,361 465 4,896 --1,245
1995 6,982 690 7,672 546 7,126 --1,324
1996 7,223 1,829 9,052 411 8,641 --1,271
1997 7,823 1,503 9,326 602 8,724 --74
1998 7,867 1,836 9,703 747 8,956 44
1999 7,209 1,904 9,113 974 8,139 1,242
2000 7,058 1,162 8,220 255 7,965 181
2001 7,922 864 8,786 541 8,244 377
2002 7,767 942 8,709 332 8,377 --108
2001 II 7,416 1,130 8,547 237 8,310 --268
III 7,492 1,165 8,658 213 8,445 --402
IV 7,922 864 8,786 541 8,244 377
2002 I 8,023 1,096 9,119 658 8,461 --197
II 7,969 1,093 9,062 468 8,594 --330
III 7,769 859 8,628 1,101 7,527 738
IV 7,767 942 8,709 332 8,377 --108
2003 I 7,359 2,095 9,454 411 9,043 --662
II 7,450 2,312 9,762 228 9,534 --1,153
1 Situation at end of period.2 Cumulative quarterly data.
3 Original maturity.
80 13 CHAPTER 13: NATIONAL FINANCIAL ACCOUNTS OF BELGIUM13.1 FLOW OF FUNDS BY SECTOR
(millions of euro)
1999 2000 2001 2002 20031999 2000
I II III IV I II III IV I II
Individuals: 1
Formation of financial assets with:Non-financial corporations --7,736 3,312 --422 233 4,719 1,517 554 1,017 602 --396 --1,016 --1,035
Securities other than shares 2,532 --1,072 226 --309 3,746 1,236 935 530 --25 258 --131 --729
Quoted shares --12,573 1,060 --176 --204 483 728 --766 --393 24 232 17 --493
Unquoted shares and other equity 2,305 3,324 --472 746 491 --447 384 881 603 --886 --903 187
General government --200 --52 --739 --642 108 1,672 --1,006 --1,053 --360 2,373 --2,923 --1,193
Securities other than shares --533 162 92 529 165 --323 --318 --181 --29 27 --1,954 --203
Other assets 333 --214 --831 --1,171 --57 1,995 --687 --872 --331 2,346 --969 --990
Financial institutions 20,808 20,965 4,951 5,934 3,864 3,459 1,253 9,808 642 9,381 8,136 6,223
Currency and deposits 4,063 346 --143 2,727 --577 3,807 24 2,391 --2,713 7,496 5,394 2,213
Securities other than shares --4,133 --1,384 --832 --1,386 630 --705 --830 --211 --669 --1,725 --1,856 --2,451
Quoted shares --2,020 1,015 --314 --210 --566 --731 292 --372 --611 --53 --98 570
Unquoted shares and other equity 170 148 24 --46 8 --11 --15 22 84 9 14 --158
Mutual fund shares 11,670 12,714 3,215 1,674 2,773 1,947 2,519 2,418 155 574 --553 1,382
Insurance technical reserves 10,003 7,784 2,301 3,250 2,267 3,775 897 3,173 4,201 2,903 5,199 4,276
Other assets and adjustments 1,055 341 699 --76 --670 --4,624 --1,634 2,387 196 177 37 392
Rest of the world 12,900 --4,303 882 --928 --3,427 --1,755 6,779 --1,412 12 --3,007 3,089 891
Total 25,772 19,922 4,671 4,596 5,264 4,893 7,579 8,360 897 8,350 7,285 4,888Non-financial corporations:Formation of financial assets with:
Individuals 1 - - - - - - - - - - - -
Non-financial corporations 693 2,455 --520 1,600 --1,489 --2,002 1,164 2,861 1,488 --4,439 --4,793 2,671
Securities other than shares 616 358 298 416 --702 --117 18 --239 251 71 --488 237
Quoted shares --4,745 2,280 --469 --114 --1,879 --617 75 90 --1,038 --430 --964 2,006
Unquoted shares and other equity 4,821 --184 --349 1,299 1,092 --1,268 1,071 3,009 2,275 --4,080 --3,340 428
General government --2,058 --67 1,077 --353 --866 1,010 --804 289 --560 405 --248 --905
Securities other than shares --2,488 --472 1,630 --720 --55 666 --403 531 --627 205 --157 --926
Other assets 430 406 --553 367 --811 343 --401 --243 67 200 --91 20
Financial institutions 10,857 --5,255 --935 --1,131 2,533 4,739 3,027 562 --779 2,352 --3,098 1,479
Currency and deposits 5,183 --3,946 3,135 2,278 --3,505 --507 --839 1,052 469 --1,887 --2,937 632
Securities other than shares 644 376 --349 --155 --235 --254 299 --71 16 --206 22 248
Quoted shares --401 903 309 --156 953 149 --356 51 176 71 427 --1,532
Unquoted shares and other equity --3,051 --3,708 --382 --258 --563 --106 141 --291 182 279 --74 --1,798
Other assets and adjustments 8,482 1,121 --3,647 --2,841 5,884 5,457 3,783 --179 --1,621 4,096 --536 3,928
Rest of the world 14,208 36,038 4,932 9,617 2,443 946 372 --168 7,236 3,386 9,614 --90
Total 23,699 33,172 4,553 9,733 2,622 4,692 3,759 3,543 7,384 1,705 1,476 3,154
Statisticalbulletin
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ationalBank
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81
13.1 FLOW OF FUNDS BY SECTOR (CONTINUED)
(millions of euro)
20032002200120001999
IIIIVIIIIIIIVIIIIII
20001999
General government:Formation of financial assets with:
Individuals 1 405 --167 491 626 --1,400 447 68 771 --1,831 465 334 861
Non-financial corporations --45 --155 556 --20 --413 547 995 83 --805 381 555 434
General government 730 1,666 --1,160 --456 2,636 2,952 --1,657 --695 1,830 6,247 --5,889 252
Securities other than shares 1,249 914 --428 --401 1,201 1,445 --978 --787 1,510 3,409 --3,766 --560
Loans --540 693 --707 --60 1,382 1,473 --632 65 320 2,799 --2,025 746
Financial institutions 23 --13 699 221 --36 --969 197 --92 18 --1,387 1,007 149
Rest of the world 962 300 --183 2,207 1,046 --3,352 1,697 --387 --600 --281 247 1,291
Total 2,074 1,631 403 2,578 1,833 --374 1,299 --321 --1,389 5,425 --3,746 2,985Financial institutions:Formation of financial assets with:
Individuals 1 4,790 2,276 --713 932 --2,557 209 --78 2,612 --318 1,548 1,239 1,745
Loans 4,502 2,553 205 1,612 --2,300 198 --59 2,388 140 1,551 1,090 1,845
Other assets and adjustments 288 --277 --919 --680 --256 11 --19 224 --458 --3 149 --99
Non-financial corporations 9,497 1,748 2,462 1,292 923 --2,872 2,274 427 312 --961 --2,112 1,040
Securities other than shares --676 1,024 --418 --3 --242 223 --581 158 --337 149 414 940
Loans 7,784 1,338 2,647 --3 1,206 --2,484 2,659 --1,426 --761 --603 --3,158 1,058
Quoted shares 1,199 --2,605 715 105 --134 --1,034 77 320 1,540 --905 461 --1,095
Unquoted shares and other equity --213 981 226 38 --32 267 11 --18 --49 410 --124 --63
Other assets and adjustments 1,404 1,010 --708 1,155 124 156 107 1,392 --82 --11 295 200
General government --13,054 --20,278 --2,388 --2,865 --2,761 --3,785 --3,818 --7,502 --2,445 3,867 --10,518 400
Securities other than shares --12,441 --19,388 --1,304 --2,014 --2,799 --3,723 --2,034 --7,574 --1,979 3,177 --10,468 4
Other assets --612 --891 --1,084 --851 38 --62 --1,784 71 --465 690 --51 397
Financial institutions 28,266 --14,097 549 --251 7,159 7,078 10,329 --17,781 13,275 --4,488 6,365 9,122
Rest of the world 63,761 21,323 23,220 12,083 37,376 11,661 13,538 23,902 5,165 6,300 18,498 28,603
Total 93,261 --9,028 23,130 11,191 40,140 12,291 22,245 1,658 15,989 6,265 13,472 40,911Rest of the world:Formation of financial assets with:
Non-financial corporations 28,428 33,537 2,764 10,154 3,506 10,549 731 2,759 4,349 12,225 8,315 790
General government 17,412 20,731 6,103 3,859 4,946 --3,847 11,061 5,575 2,003 --8,826 19,608 1,973
Financial institutions 33,307 --10,627 17,866 6,419 26,619 --2,016 7,439 9,161 2,833 407 1,062 23,938
Total 79,147 43,641 26,733 20,431 35,071 4,686 19,230 17,494 9,185 3,806 28,985 26,702New financial liabilities of:
Individuals 1 5,195 2,109 --223 1,557 --3,957 656 --11 3,383 --2,149 2,014 1,574 2,606Non-financial corporations 30,837 40,898 4,840 13,259 7,246 7,739 5,717 7,146 5,946 6,809 949 3,901General government 2,831 2,000 2,892 --457 4,063 --1,997 3,777 --3,387 468 4,067 29 527Financial institutions 93,261 --9,028 23,130 11,191 40,140 12,291 22,245 1,658 15,989 6,265 13,472 40,911Rest of the world 91,830 53,358 28,851 22,979 37,438 7,500 22,385 21,934 11,813 6,397 31,448 30,695Total 223,953 89,337 59,490 48,530 84,930 26,189 54,113 30,735 32,066 25,551 47,473 78,640
1 This sector encompasses the households and non-profit institutions serving households.
Statisticalbulletin
oftheN
ationalBank
ofBelgium
(2003--IV)
82 13.2 CLAIMS AND LIABILITIES BY SECTOR
(end of period outstanding amounts, millions of euro)
1998 1999 2000 2001 2002 20031998 1999 2000
I II III IV I II III IV I II
Individuals: 1
Financial assets with:Non-financial corporations 124,042 121,424 113,472 111,859 114,642 116,674 102,812 97,068 90,906 84,222 73,711 73,511 65,702
Securities other than shares 3,939 6,612 5,552 5,779 5,480 9,225 10,461 11,399 13,189 13,162 13,421 13,142 12,268
Quoted shares 22,437 16,862 18,627 15,094 14,645 12,255 13,200 13,959 10,509 3,492 4,062 2,734 2,977
Unquoted shares and other equity 97,666 97,950 89,292 90,985 94,517 95,194 79,150 71,710 67,208 67,567 56,228 57,634 50,457
General government 16,886 16,632 16,585 15,843 15,202 15,307 16,976 15,969 14,914 14,553 16,924 14,000 12,805
Securities other than shares 12,770 12,183 12,350 12,439 12,968 13,131 12,804 12,484 12,302 12,271 12,297 10,341 10,137
Other assets 4,115 4,449 4,235 3,404 2,233 2,177 4,172 3,484 2,613 2,281 4,627 3,659 2,668
Financial institutions 365,468 387,732 403,373 401,133 408,227 401,659 410,581 411,191 410,396 398,253 411,396 412,773 423,190
Currency and deposits 144,061 148,374 148,845 148,760 151,560 150,202 149,751 149,826 152,101 149,398 157,843 163,203 165,385
Securities other than shares 71,139 67,006 65,622 64,790 63,404 64,034 63,329 62,498 62,288 61,618 59,893 58,037 55,586
Quoted shares 17,449 10,512 10,989 9,626 9,485 8,313 7,441 7,308 6,435 4,448 4,764 4,049 5,451
Unquoted shares and other equity 11,604 4,203 2,824 2,523 1,845 2,032 2,261 2,127 1,907 969 1,442 771 1,628
Mutual fund shares 44,508 59,263 68,037 67,003 69,678 64,357 70,479 73,382 68,654 62,310 64,167 60,323 64,744
Insurance technical reserves 72,728 85,394 92,818 93,354 96,988 96,307 101,417 102,215 102,743 102,574 106,417 109,283 115,661
Other assets and adjustments 3,977 12,979 14,239 15,078 15,267 16,416 15,903 13,834 16,268 16,935 16,870 17,107 14,734
Rest of the world 177,367 214,052 208,191 203,294 206,198 185,477 192,333 199,930 178,091 167,552 163,925 158,258 162,168
Total 683,763 739,840 741,621 732,129 744,268 719,116 722,702 724,158 694,308 664,579 665,956 658,541 663,865Non-financial corporations:Financial assets with:
Individuals 1 - - - - - - - - - - - - -
Non-financial corporations 141,444 145,930 204,096 211,960 216,733 216,311 228,699 219,468 229,224 239,890 247,924 252,500 252,653
Securities other than shares 725 1,342 1,701 1,998 2,414 1,712 1,595 1,613 1,374 1,625 1,695 1,207 1,444
Quoted shares 54,097 41,322 48,183 46,294 42,561 40,226 42,748 25,085 24,326 23,836 22,732 21,519 26,197
Unquoted shares and other equity 86,622 103,266 154,212 163,668 171,758 174,373 184,356 192,770 203,525 214,429 223,496 229,774 225,013
General government 10,208 8,153 8,086 9,164 9,120 8,254 9,263 8,459 8,748 8,188 8,593 8,340 7,435
Securities other than shares 7,859 5,374 4,902 6,533 6,122 6,068 6,733 6,330 6,861 6,234 6,439 6,277 5,352
Other assets 2,349 2,779 3,184 2,631 2,998 2,187 2,530 2,129 1,886 1,953 2,154 2,063 2,083
Financial institutions 59,763 76,540 73,369 75,289 72,599 75,540 80,186 85,024 83,791 87,017 86,212 84,712 84,909
Currency and deposits 35,554 40,972 37,785 41,716 44,110 41,822 45,335 44,750 46,014 46,398 42,918 39,957 40,000
Securities other than shares 1,387 2,038 2,414 2,066 1,708 1,473 1,217 1,516 1,444 1,460 1,254 1,276 1,524
Quoted shares 20,389 13,417 12,603 11,227 10,575 10,136 9,826 9,044 8,358 5,977 6,645 5,516 5,188
Unquoted shares and other equity 34,428 21,624 18,427 16,975 14,446 13,401 13,603 13,570 12,265 7,658 9,369 6,343 9,691
Other assets and adjustments --31,995 --1,511 2,139 3,304 1,760 8,708 10,205 16,145 15,709 25,524 26,026 31,620 28,507
Rest of the world 109,092 143,578 180,918 177,925 188,003 171,598 185,365 187,015 173,743 172,346 174,860 181,246 184,549
Total 320,506 374,202 466,469 474,337 486,455 471,704 503,512 499,966 495,507 507,440 517,588 526,798 529,546
Statisticalbulletin
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ationalBank
ofBelgium
(2003--IV)
83
13.2 CLAIMS AND LIABILITIES BY SECTOR (CONTINUED)
(end of period outstanding amounts, millions of euro)
200320022001200019991998
IIIIVIIIIIIIVIIIIII
200019991998
General government:Financial assets with:
Individuals 1 5,988 6,392 6,225 6,716 10,551 9,151 9,598 9,666 10,437 8,605 9,071 9,405 10,265
Non-financial corporations 6,043 7,295 7,065 7,545 7,433 6,929 7,470 8,349 8,340 7,444 7,714 8,234 8,577
General government 8,816 9,546 11,212 10,053 9,597 12,233 15,185 13,528 12,833 14,663 20,909 15,020 15,272
Securities other than shares 6,739 7,988 8,902 8,474 8,074 9,274 10,719 9,741 8,954 10,464 13,873 10,107 9,547
Loans 1,909 1,370 2,063 1,356 1,296 2,679 4,152 3,520 3,585 3,905 6,704 4,679 5,426
Financial institutions 14,162 14,337 15,623 15,922 16,650 16,272 15,335 15,992 15,786 14,750 13,989 14,745 15,535
Rest of the world 409 1,329 1,507 1,249 3,381 4,352 925 2,547 2,084 1,409 1,052 1,224 2,440
Total 35,418 38,900 41,632 41,485 47,613 48,936 48,514 50,081 49,480 46,871 52,735 48,629 52,089Financial institutions:Financial assets with:
Individuals 1 93,699 98,545 100,848 100,074 97,809 96,297 96,444 95,920 98,326 98,009 100,332 101,565 103,308
Loans 91,757 96,310 98,892 99,036 97,451 94,395 94,530 94,025 96,206 96,348 98,673 99,757 101,598
Other assets and adjustments 1,942 2,234 1,956 1,038 358 1,902 1,914 1,895 2,119 1,662 1,659 1,808 1,709
Non-financial corporations 140,264 143,659 143,479 143,429 145,114 142,391 140,661 143,636 139,103 134,434 133,109 128,113 131,356
Securities other than shares 5,335 4,673 5,673 5,313 5,369 5,012 5,273 4,699 3,556 3,222 3,363 3,788 4,684
Loans 87,240 96,341 98,856 100,894 101,719 102,997 100,984 104,170 101,727 101,093 99,284 95,846 96,584
Quoted shares 15,123 15,209 11,122 11,182 11,266 10,063 10,241 10,944 9,515 9,220 8,724 8,137 8,089
Unquoted shares and other equity 2,111 1,949 3,082 3,301 3,284 3,215 3,482 3,497 3,341 3,299 3,814 3,583 3,374
Other assets and adjustments 30,456 25,487 24,746 22,739 23,476 21,103 20,681 20,326 20,965 17,602 17,925 16,759 18,624
General government 198,456 184,881 164,667 162,243 161,791 159,011 155,199 151,409 143,889 141,429 145,379 134,849 135,227
Securities other than shares 163,236 150,254 130,945 129,615 129,439 126,619 122,866 120,817 113,226 111,233 114,393 103,914 103,898
Other assets 35,220 34,627 33,722 32,628 32,352 32,392 32,333 30,592 30,663 30,197 30,986 30,935 31,328
Financial institutions 241,111 269,483 247,486 238,607 236,706 229,069 237,364 247,569 221,415 210,243 209,577 202,587 223,834
Rest of the world 319,349 405,930 435,656 454,881 474,458 493,653 512,405 528,258 528,297 518,784 522,569 527,975 558,685
Total 992,879 1,102,497 1,092,136 1,099,234 1,115,877 1,120,420 1,142,072 1,166,792 1,131,031 1,102,900 1,110,967 1,095,089 1,152,409Rest of the world:Financial assets with:
Non-financial corporations 155,472 184,204 221,594 223,270 232,330 230,618 249,023 250,858 247,022 241,295 255,024 255,065 263,305
General government 56,268 74,351 95,423 101,484 106,026 110,956 107,025 118,124 123,529 125,546 116,666 136,136 137,787
Financial institutions 312,377 354,405 352,284 368,283 381,695 397,880 398,607 407,017 399,643 392,636 389,793 380,272 404,941
Total 524,117 612,960 669,301 693,037 720,052 739,454 754,655 775,999 770,193 759,477 761,483 771,472 806,032Financial liabilities of:
Individuals 1 99,687 104,937 107,073 106,790 108,360 105,448 106,042 105,586 108,762 106,615 109,403 110,970 113,573Non-financial corporations 567,266 602,512 689,705 698,062 716,252 712,921 728,665 719,379 714,595 707,285 717,481 717,422 721,593General government 290,634 293,562 295,973 298,786 301,736 305,761 303,648 307,490 303,913 304,378 308,472 308,344 308,525Financial institutions 992,879 1,102,497 1,092,136 1,099,234 1,115,877 1,120,420 1,142,072 1,166,792 1,131,031 1,102,900 1,110,967 1,095,089 1,152,409Rest of the world 606,217 764,890 826,272 837,349 872,040 855,079 891,028 917,750 882,216 860,091 862,406 868,703 907,841Total 2,556,683 2,868,399 3,011,158 3,040,222 3,114,264 3,099,630 3,171,455 3,216,997 3,140,518 3,081,268 3,108,729 3,100,530 3,203,941
1 This sector encompasses the households and non-profit institutions serving households.
Statisticalbulletin
oftheN
ationalBank
ofBelgium
(2003--IV)
84 Statistical bulletin of the National Bank of Belgium (2003--IV)
13.3 FINANCIAL ACCOUNT
(millions of euro)
Individuals Non-finan-cial corpo-rations
GeneralGovern-ment
Monetaryfinancialinstitu-tions 1
Insurancecorpora-tions andpensionfunds 2
Other fi-nancialinstitu-tions 3
Rest of theworld
Total
2000Changes in financial assets
Monetary gold and Special Drawing Rights - - - --232 - - - --232
Currency and deposits 7,603 --4,695 688 --45,765 708 1,728 --34,873 --74,605
Currency --182 54 - 103 - - 84 59
Sight deposits 2,299 --32 496 1,147 462 733 --6,351 --1,246
Other deposits 5,487 --4,717 192 --47,014 246 996 --28,606 --73,418
Securities other than shares --1,721 --593 780 --12,590 1,796 5,000 29,285 21,958
Short-term 252 356 --468 --11,291 4 395 5,664 --5,088
Long-term --1,972 --949 1,354 --1,198 1,793 4,547 23,621 27,196
Financial derivatives - - --105 --102 --2 58 - --151
Loans --43 26,904 362 9,212 278 1,923 18,278 56,914
Short-term loans --37 --50 693 4,443 73 201 5,099 10,423
Long-term loans --6 26,954 --331 4,769 205 1,722 13,179 46,491
Shares 560 16,065 --18 2,748 237 12,634 22,907 55,133
Quoted shares --2,913 11,306 0 --985 100 9,875 6,373 23,757
Unquoted shares and other equity 3,472 4,759 --18 3,733 137 2,759 16,534 31,377
Mutual fund shares 11,233 - --146 --3 4,019 3,337 1,448 19,889
Insurance technical reserves 9,246 64 - - - - - 9,310
Miscellaneous --6,957 --4,574 --36 5,244 880 --184 6,596 970
Total Changes in financial assets 19,922 33,172 1,631 --41,385 7,918 24,439 43,641 89,337Changes in financial liabilities
Monetary gold and Special Drawing Rights - - - - - - --232 --232
Currency and deposits 0 0 --1 --60,498 - 0 --14,107 --74,605
Currency 0 0 --1 42 - - 18 59
Sight deposits 0 0 - --670 - 0 --576 --1,246
Other deposits 0 0 - --59,869 - - --13,549 --73,418
Securities other than shares 0 2,450 2,420 4,726 - --578 12,940 21,958
Short-term - 3,151 --4,620 4,506 - 102 --8,227 --5,088
Long-term 0 --700 7,040 284 - --601 21,174 27,196
Financial derivatives - --1 - --64 - --80 --6 --151
Loans 2,525 12,817 --690 6,793 --161 2,137 33,494 56,914
Short-term loans --698 577 --798 5,609 --22 802 4,953 10,423
Long-term loans 3,223 12,240 108 1,184 --139 1,335 28,541 46,491
Shares - 24,850 - 147 190 4,387 25,559 55,133
Quoted shares - 4,954 - 0 0 2,985 15,818 23,757
Unquoted shares and other equity - 19,896 - 147 190 1,402 9,742 31,377
Mutual fund shares - 0 - --230 - 18,524 1,595 19,889
Insurance technical reserves - - - - 7,848 - 1,462 9,310
Miscellaneous --416 780 271 7,677 42 --31 --7,354 970
Total Changes in financial liabilities 2,109 40,898 2,000 --41,385 7,918 24,439 53,358 89,337Financing requirement (-) or capacity (+) 17,812 --7,726 --369 0 0 0 --9,717 0
1 Monetary authorities, credit institutions and monetary undertakings for collective invest-ment.
2 Including the Fund for the Protection of Deposits and Financial instruments.
3 Non-monetary undertakings for collective investment, the postal Cheque Office (up to thecreation of the Postbank in April 1998), the Rediscount and Guarantee Institute (up to itsdissolution in 1999), securities dealers, mortgage companies, regional social housingcompanies and financial holding corporations.
85Statistical bulletin of the National Bank of Belgium (2003--IV)
13.3 FINANCIAL ACCOUNT (CONTINUED)
(millions of euro)
Individuals Non-finan-cial corpo-rations
GeneralGovern-ment
Monetaryfinancialinstitu-tions 1
Insurancecorpora-tions andpensionfunds 2
Other fi-nancialinstitu-tions 3
Rest of theworld
Total
2001Changes in financial assets
Monetary gold and Special Drawing Rights - - - 775 - - - 775
Currency and deposits 10,728 2,098 --702 --1,095 334 3,645 26,473 41,480
Currency --4,569 138 - 400 - - 10 --4,021
Sight deposits 963 1,388 255 5,419 169 --47 4,653 12,799
Other deposits 14,334 572 --957 --6,915 165 3,692 21,810 32,701
Securities other than shares 4,547 3,461 1,669 27,007 4,258 2,392 11,297 54,632
Short-term 575 257 991 --1,058 139 --459 --1,046 --600
Long-term 3,972 3,205 817 28,863 4,123 2,929 12,344 56,252
Financial derivatives - - --139 --799 --4 --78 - --1,020
Loans 6 17,814 1,936 14,945 842 1,326 10,585 47,454
Short-term loans 8 20 489 7,362 1,118 482 11,922 21,402
Long-term loans --3 17,794 1,447 7,583 --276 844 --1,337 26,052
Shares 78 --1,681 251 3,059 3,343 7,488 30,934 43,472
Quoted shares --215 2,087 0 123 2,999 7,866 6,191 19,052
Unquoted shares and other equity 292 --3,768 251 2,936 344 --378 24,743 24,420
Mutual fund shares 11,041 - 43 --83 3,407 1,960 136 16,503
Insurance technical reserves 13,249 481 - - - - - 13,729
Miscellaneous --20,223 --572 1,245 11,944 --116 1,321 7,495 1,095
Total Changes in financial assets 19,425 21,601 4,440 56,551 12,069 18,132 86,921 219,139Changes in financial liabilities
Monetary gold and Special Drawing Rights - - - - - - 775 775
Currency and deposits 0 0 --117 30,798 - 0 10,799 41,480
Currency 0 0 --117 --4,268 - - 365 --4,021
Sight deposits 0 0 - 6,554 - 0 6,245 12,799
Other deposits 0 0 - 28,512 - - 4,189 32,701
Securities other than shares 0 7,214 4,747 --5,918 - --887 49,475 54,632
Short-term - 1,565 247 --2,947 - 170 365 --600
Long-term 0 5,649 4,500 --2,735 - --283 49,120 56,252
Financial derivatives - 0 - --236 - --775 --10 --1,020
Loans --517 --1,499 875 15,797 --384 3,575 29,607 47,454
Short-term loans --1,224 --1,081 126 10,673 --383 1,805 11,484 21,402
Long-term loans 707 --419 749 5,124 --1 1,769 18,123 26,052
Shares - 26,235 - --144 331 1,117 15,933 43,472
Quoted shares - 2,257 - 0 0 3,454 13,341 19,052
Unquoted shares and other equity - 23,978 - --144 331 --2,337 2,592 24,420
Mutual fund shares - 0 - 460 - 12,110 3,933 16,503
Insurance technical reserves - - - - 12,073 - 1,656 13,729
Miscellaneous --1,449 1,134 --1,004 15,559 48 2,217 --15,410 1,095
Total Changes in financial liabilities --1,966 33,084 4,501 56,551 12,069 18,132 96,768 219,139Financing requirement (-) or capacity (+) 21,391 --11,484 --60 0 0 0 --9,847 0
1 Monetary authorities, credit institutions and monetary undertakings for collective invest-ment.
2 Including the Fund for the Protection of Deposits and Financial instruments.
3 Non-monetary undertakings for collective investment, the postal Cheque Office (up to thecreation of the Postbank in April 1998), the Rediscount and Guarantee Institute (up to itsdissolution in 1999), securities dealers, mortgage companies, regional social housingcompanies and financial holding corporations.
86 Statistical bulletin of the National Bank of Belgium (2003--IV)
13.3 FINANCIAL ACCOUNT (CONTINUED)
(millions of euro)
Individuals Non-finan-cial corpo-rations
GeneralGovern-ment
Monetaryfinancialinstitu-tions 1
Insurancecorpora-tions andpensionfunds 2
Other fi-nancialinstitu-tions 3
Rest of theworld
Total
2002Changes in financial assets
Monetary gold and Special Drawing Rights - - - 325 - - - 325
Currency and deposits 9,681 4,261 --506 16,034 711 3,138 15,786 49,105
Currency 2,408 --23 - --116 - - --579 1,691
Sight deposits 1,710 --514 61 --6,361 334 59 5,476 764
Other deposits 5,563 4,797 --567 22,511 378 3,079 10,889 46,649
Securities other than shares --3,525 316 3,137 --11,677 4,895 217 13,139 6,503
Short-term --1,258 --811 1,925 --1,593 41 --169 813 --1,053
Long-term --2,266 1,127 1,345 --9,759 4,586 544 12,326 7,903
Financial derivatives - - --133 --324 268 --158 - --347
Loans 5 8,131 2,789 21,773 706 2,014 18,076 53,494
Short-term loans 4 131 1,058 15,484 173 251 13,121 30,222
Long-term loans 0 7,999 1,731 6,289 533 1,763 4,956 23,272
Shares 949 858 142 1,492 3,309 3,859 6,266 16,874
Quoted shares --134 --1,400 0 647 3,070 2,397 1,287 5,866
Unquoted shares and other equity 1,082 2,258 142 845 239 1,462 4,979 11,007
Mutual fund shares 5,971 - --36 --118 1,444 --2,657 247 4,851
Insurance technical reserves 12,658 --178 - - - - - 12,480
Miscellaneous --552 3,004 --511 --2,822 1,560 1,955 --3,799 --1,165
Total Changes in financial assets 25,187 16,392 5,015 25,007 12,625 8,525 49,716 142,466Changes in financial liabilities
Monetary gold and Special Drawing Rights - - - - - - 325 325
Currency and deposits 0 0 70 19,216 - - 29,820 49,105
Currency 0 0 70 --2,327 - - 3,948 1,691
Sight deposits 0 0 - 4,962 - - --4,198 764
Other deposits 0 0 - 16,580 - - 30,069 46,649
Securities other than shares 0 4,169 4,238 --4,461 - 397 2,160 6,503
Short-term - 2,228 --294 --1,350 - 512 --2,147 --1,053
Long-term 0 1,941 4,532 --2,819 - 227 4,023 7,903
Financial derivatives - 0 - --291 - --342 285 --347
Loans 3,771 11,235 1,239 5,730 1,087 133 30,300 53,494
Short-term loans 241 --705 364 11,079 840 171 18,231 30,222
Long-term loans 3,530 11,939 875 --5,350 247 --38 12,068 23,272
Shares - 8,687 - --231 506 1,789 6,123 16,874
Quoted shares - 144 - 0 0 903 4,819 5,866
Unquoted shares and other equity - 8,543 - --231 506 886 1,304 11,007
Mutual fund shares - 0 - 521 - 3,886 444 4,851
Insurance technical reserves - - - - 10,997 - 1,483 12,480
Miscellaneous --534 1,527 --622 4,233 35 2,319 --8,123 --1,165
Total Changes in financial liabilities 3,237 25,618 4,925 25,007 12,625 8,525 62,530 142,466Financing requirement (-) or capacity (+) 21,950 --9,226 90 0 0 0 --12,814 0
1 Monetary authorities, credit institutions and monetary undertakings for collective invest-ment.
2 Including the Fund for the Protection of Deposits and Financial instruments.
3 Non-monetary undertakings for collective investment, the postal Cheque Office (up to thecreation of the Postbank in April 1998), the Rediscount and Guarantee Institute (up to itsdissolution in 1999), securities dealers, mortgage companies, regional social housingcompanies and financial holding corporations.
87Statistical bulletin of the National Bank of Belgium (2003--IV)
13.3 FINANCIAL ACCOUNT (CONTINUED)
(millions of euro)
Individuals Non-finan-cial corpo-rations
GeneralGovern-ment
Monetaryfinancialinstitu-tions 1
Insurancecorpora-tions andpensionfunds 2
Other fi-nancialinstitu-tions 3
Rest of theworld
Total
2003 IIChanges in financial assets
Monetary gold and Special Drawing Rights - - - 57 - - - 57
Currency and deposits 12,710 4,396 3,095 23,339 1,085 1,870 24,968 71,464
Currency 0 66 - --344 - - 0 --278
Sight deposits 2,721 941 225 3,572 1,247 538 11,027 20,272
Other deposits 9,989 3,388 2,870 20,111 --162 1,332 13,941 51,469
Securities other than shares --9,698 --965 --4,369 --2,870 8,100 --1,813 20,445 8,831
Short-term --122 --750 --4,792 --3,972 77 --194 13,604 3,850
Long-term --9,576 --214 490 683 8,006 --1,806 6,841 4,424
Financial derivatives - - --67 419 17 187 - 556
Loans --3 14,687 --1,357 1,483 --278 --1,347 --10,090 3,096
Short-term loans --2 44 --1,720 --899 --1,187 --669 --10,592 --15,026
Long-term loans --1 14,642 363 2,382 909 --677 503 18,121
Shares --368 --2,664 --14 --917 --1,231 2,260 5,075 2,141
Quoted shares 492 1,468 0 --642 --1,165 1,852 1,020 3,025
Unquoted shares and other equity --860 --4,132 --14 --275 --67 409 4,055 --884
Mutual fund shares 1,011 - --64 --115 2,453 6 --499 2,793
Insurance technical reserves 10,122 431 - - - - - 10,553
Miscellaneous --1,601 --11,255 1,948 21,122 192 985 15,788 27,179
Total Changes in financial assets 12,173 4,630 --761 42,100 10,321 1,962 55,687 126,112Changes in financial liabilities
Monetary gold and Special Drawing Rights - - - - - - 57 57
Currency and deposits 0 0 70 35,711 - - 35,682 71,464
Currency 0 0 70 --2,403 - - 2,055 --278
Sight deposits 0 0 - 16,564 - - 3,708 20,272
Other deposits 0 0 - 21,551 - - 29,919 51,469
Securities other than shares 0 1,209 3,924 --6,311 - --243 10,251 8,831
Short-term - 105 6,237 --2,038 - 554 --1,009 3,850
Long-term 0 1,103 --2,313 --4,393 - --1,232 11,259 4,424
Financial derivatives - 0 - 121 - 436 0 556
Loans 2,812 1,245 --467 --13,584 32 2,010 11,048 3,096
Short-term loans --79 1,672 --601 --13,256 46 1,446 --4,254 --15,026
Long-term loans 2,891 --427 134 --328 --14 563 15,302 18,121
Shares - 1,065 - --2,188 327 --265 3,201 2,141
Quoted shares - 300 - 0 0 343 2,382 3,025
Unquoted shares and other equity - 765 - --2,188 327 --608 819 --884
Mutual fund shares - 0 - 292 - 572 1,929 2,793
Insurance technical reserves - - - - 9,907 - 646 10,553
Miscellaneous 1,368 1,331 --2,970 28,179 54 --113 --670 27,179
Total Changes in financial liabilities 4,180 4,850 557 42,100 10,321 1,962 62,143 126,112Financing requirement (-) or capacity (+) 7,994 --220 --1,318 0 0 0 --6,456 0
1 Monetary authorities, credit institutions and monetary undertakings for collective invest-ment.
2 Including the Fund for the Protection of Deposits and Financial instruments.
3 Non-monetary undertakings for collective investment, the postal Cheque Office (up to thecreation of the Postbank in April 1998), the Rediscount and Guarantee Institute (up to itsdissolution in 1999), securities dealers, mortgage companies, regional social housingcompanies and financial holding corporations.
88 Statistical bulletin of the National Bank of Belgium (2003--IV)
13.4 FINANCIAL BALANCE SHEETS
(end of period outstanding amounts, millions of euro)
Individuals Non-finan-cial corpo-rations
GeneralGovern-ment
Monetaryfinancialinstitu-tions 1
Insurancecorpora-tions andpensionfunds 2
Other finan-cial institu-tions 3
Rest of theworld
Total
1999Financial assets
Monetary gold and Special Drawing Rights - - - 5,210 - - - 5,210
Currency and deposits 180,224 56,270 5,086 228,241 1,779 21,005 271,546 764,150
Currency 11,601 572 - 1,571 - - 485 14,229
Sight deposits 21,433 20,513 2,173 11,918 827 4,025 35,073 95,963
Other deposits 147,191 35,185 2,913 214,751 951 16,980 235,988 653,958
Securities other than shares 162,497 11,189 8,055 221,445 45,351 14,903 84,424 547,865
Short-term 1,540 3,793 4,567 30,463 113 970 21,599 63,045
Long-term 160,957 7,396 3,488 189,651 45,064 13,189 62,825 482,570
Financial derivatives - - - 1,331 174 745 - 2,250
Loans 55 45,392 7,092 242,562 4,778 19,367 81,780 401,027
Short-term loans 37 109 1,308 76,319 313 1,283 29,831 109,200
Long-term loans 18 45,283 5,784 166,243 4,466 18,084 51,949 291,828
Shares 181,433 255,814 4,004 20,972 24,915 162,873 167,855 817,865
Quoted shares 79,280 114,729 304 11,920 24,060 54,775 54,939 340,006
Unquoted shares and other equity 102,153 141,085 3,700 9,052 855 108,098 112,916 477,859
Mutual fund shares 104,591 - 840 991 10,637 6,424 1,315 124,797
Insurance technical reserves 91,276 5,136 - - - - - 96,412
Miscellaneous 19,763 401 13,823 45,543 21,381 4,122 6,040 111,073
Total Financial assets 739,840 374,202 38,900 764,963 108,841 228,694 612,960 2,868,399Financial liabilities
Monetary gold and Special Drawing Rights - - - - - - 5,210 5,210
Currency and deposits 0 0 598 564,158 - 0 199,394 764,150
Currency 0 0 598 13,432 - - 199 14,229
Sight deposits 0 0 - 90,312 - 0 5,651 95,963
Other deposits 0 0 - 460,414 - - 193,545 653,958
Securities other than shares 0 13,997 246,000 81,465 - 10,694 195,709 547,865
Short-term - 3,137 33,775 8,539 - 2,487 15,108 63,045
Long-term 0 10,860 212,225 72,146 - 6,924 180,415 482,570
Financial derivatives - 1 - 780 - 1,283 186 2,250
Loans 96,499 154,558 33,462 24,564 1,622 12,347 77,975 401,027
Short-term loans 8,354 57,148 5,364 13,732 1,393 2,031 21,177 109,200
Long-term loans 88,145 97,410 28,097 10,833 230 10,316 56,797 291,828
Shares - 401,183 - 66,746 16,300 128,679 204,958 817,865
Quoted shares - 109,429 - 720 0 70,601 159,255 340,006
Unquoted shares and other equity - 291,754 - 66,026 16,300 58,078 45,702 477,859
Mutual fund shares - 0 - 975 - 69,597 54,224 124,797
Insurance technical reserves - - - - 90,530 - 5,882 96,412
Miscellaneous 8,438 32,774 13,502 27,053 389 7,377 21,538 111,073
Total Financial liabilities 104,937 602,512 293,562 764,963 108,841 228,694 764,890 2,868,399Net financial wealth 634,903 --228,311 --254,662 0 0 0 --151,930 0
1 Monetary authorities, credit institutions and monetary undertakings for collective invest-ment.
2 Including the Fund for the Protection of Deposits and Financial instruments.
3 on-monetary undertakings for collective investment, the postal Cheque Office (up to thecreation of the Postbank in April 1998), the Rediscount and Guarantee Institute (up to itsdissolution in 1999), securities dealers, mortgage companies, regional social housingcompanies and financial holding corporations.
89Statistical bulletin of the National Bank of Belgium (2003--IV)
13.4 FINANCIAL BALANCE SHEETS (CONTINUED)
(end of period outstanding amounts, millions of euro)
Individuals Non-finan-cial corpo-rations
GeneralGovern-ment
Monetaryfinancialinstitu-tions 1
Insurancecorpora-tions andpensionfunds 2
Other finan-cial institu-tions 3
Rest of theworld
Total
2000Financial assets
Monetary gold and Special Drawing Rights - - - 5,047 - - - 5,047
Currency and deposits 188,875 52,334 5,774 189,842 2,489 22,327 246,098 707,739
Currency 11,418 627 - 1,674 - - 569 14,288
Sight deposits 23,761 20,824 2,670 14,520 1,291 4,593 30,051 97,709
Other deposits 153,695 30,883 3,105 173,647 1,198 17,734 215,479 595,742
Securities other than shares 161,697 10,595 8,941 211,044 47,186 19,468 114,089 573,019
Short-term 1,792 4,149 4,099 19,352 118 1,326 27,357 58,193
Long-term 159,905 6,445 4,842 190,462 46,895 17,355 86,732 512,636
Financial derivatives - - - 1,230 172 788 - 2,190
Loans 12 72,320 7,645 255,707 5,056 21,282 99,967 461,989
Short-term loans 0 62 2,001 82,722 385 1,476 35,019 121,666
Long-term loans 12 72,258 5,644 172,985 4,671 19,806 64,948 340,324
Shares 165,069 327,677 4,792 23,853 24,867 163,562 195,561 905,380
Quoted shares 72,953 124,891 283 11,014 23,873 58,129 57,461 348,605
Unquoted shares and other equity 92,116 202,785 4,509 12,839 993 105,433 138,100 556,775
Mutual fund shares 112,226 - 694 993 14,541 9,229 1,739 139,421
Insurance technical reserves 100,017 5,200 - - - - - 105,217
Miscellaneous 13,725 --1,657 13,787 51,274 20,644 3,725 11,848 113,345
Total Financial assets 741,621 466,469 41,632 737,760 114,783 239,593 669,301 3,011,158Financial liabilities
Monetary gold and Special Drawing Rights - - - - - - 5,047 5,047
Currency and deposits 0 0 597 515,441 - 0 191,701 707,739
Currency 0 0 597 13,474 - - 217 14,288
Sight deposits 0 0 - 91,580 - 0 6,129 97,709
Other deposits 0 0 - 410,387 - - 185,355 595,742
Securities other than shares 0 16,547 248,845 86,325 - 10,042 211,260 573,019
Short-term - 6,317 29,220 13,047 - 2,589 7,020 58,193
Long-term 0 10,230 219,625 72,471 - 6,250 204,060 512,636
Financial derivatives - 0 - 807 - 1,204 180 2,190
Loans 99,051 168,641 32,757 32,597 1,461 14,455 113,027 461,989
Short-term loans 7,676 58,407 4,552 19,479 1,370 2,805 27,378 121,666
Long-term loans 91,375 110,234 28,205 13,119 91 11,650 85,649 340,324
Shares - 472,713 - 64,395 14,873 124,926 228,473 905,380
Quoted shares - 112,671 - 566 0 71,422 163,946 348,605
Unquoted shares and other equity - 360,042 - 63,829 14,873 53,505 64,526 556,775
Mutual fund shares - 0 - 781 - 82,701 55,940 139,421
Insurance technical reserves - - - - 98,018 - 7,199 105,217
Miscellaneous 8,022 31,803 13,773 38,220 431 7,469 13,626 113,345
Total Financial liabilities 107,073 689,705 295,973 737,760 114,783 239,593 826,272 3,011,158Net financial wealth 634,547 --223,236 --254,340 0 0 0 --156,971 0
1 Monetary authorities, credit institutions and monetary undertakings for collective invest-ment.
2 Including the Fund for the Protection of Deposits and Financial instruments.
3 on-monetary undertakings for collective investment, the postal Cheque Office (up to thecreation of the Postbank in April 1998), the Rediscount and Guarantee Institute (up to itsdissolution in 1999), securities dealers, mortgage companies, regional social housingcompanies and financial holding corporations.
90 Statistical bulletin of the National Bank of Belgium (2003--IV)
13.4 FINANCIAL BALANCE SHEETS (CONTINUED)
(end of period outstanding amounts, millions of euro)
Individuals Non-finan-cial corpo-rations
GeneralGovern-ment
Monetaryfinancialinstitu-tions 1
Insurancecorpora-tions andpensionfunds 2
Other finan-cial institu-tions 3
Rest of theworld
Total
2001Financial assets
Monetary gold and Special Drawing Rights - - - 5,869 - - - 5,869
Currency and deposits 195,732 60,581 5,153 190,275 2,824 25,031 276,667 756,262
Currency 6,849 765 - 2,075 - - 579 10,267
Sight deposits 24,752 22,419 2,932 20,039 1,460 4,460 35,104 111,166
Other deposits 164,130 37,397 2,221 168,161 1,363 20,571 240,985 634,828
Securities other than shares 166,949 14,162 10,749 239,567 51,416 21,524 124,926 629,293
Short-term 2,367 4,764 5,090 18,349 257 807 26,114 57,748
Long-term 164,581 9,398 5,659 220,787 50,990 20,025 98,812 570,253
Financial derivatives - - - 431 169 693 - 1,292
Loans 18 90,616 12,590 271,550 5,898 19,399 110,992 511,063
Short-term loans 8 85 2,490 91,201 1,503 1,958 46,897 144,141
Long-term loans 9 90,531 10,100 180,349 4,395 17,441 64,096 366,921
Shares 136,225 331,504 4,254 27,168 25,439 141,406 220,611 886,608
Quoted shares 54,814 107,697 350 11,337 24,101 57,660 59,677 315,637
Unquoted shares and other equity 81,411 223,808 3,904 15,830 1,338 83,746 160,934 570,971
Mutual fund shares 114,141 - 736 913 17,753 10,301 1,093 144,938
Insurance technical reserves 109,802 5,681 - - - - - 115,483
Miscellaneous --163 968 15,032 65,053 15,876 4,809 20,365 121,939
Total Financial assets 722,702 503,512 48,514 800,396 119,206 222,471 754,655 3,171,455Financial liabilities
Monetary gold and Special Drawing Rights - - - - - - 5,869 5,869
Currency and deposits 0 0 480 550,119 - - 205,663 756,262
Currency 0 0 480 9,206 - - 582 10,267
Sight deposits 0 0 - 98,699 - - 12,467 111,166
Other deposits 0 0 - 442,214 - - 192,614 634,828
Securities other than shares 0 23,913 255,962 80,538 - 6,258 262,622 629,293
Short-term - 7,971 31,289 10,099 - 984 7,405 57,748
Long-term 0 15,941 224,674 69,746 - 4,845 255,048 570,253
Financial derivatives - 0 - 693 - 429 170 1,292
Loans 97,668 168,341 34,436 48,103 1,077 17,499 143,938 511,063
Short-term loans 6,378 58,161 4,692 29,869 988 4,510 39,544 144,141
Long-term loans 91,290 110,180 29,744 18,234 89 12,989 104,394 366,921
Shares - 508,266 - 52,607 10,552 106,079 209,103 886,608
Quoted shares - 104,931 - 700 0 62,991 147,014 315,637
Unquoted shares and other equity - 403,336 - 51,907 10,552 43,088 62,089 570,971
Mutual fund shares - 0 - 1,236 - 86,096 57,606 144,938
Insurance technical reserves - - - - 107,098 - 8,385 115,483
Miscellaneous 8,374 28,144 12,769 67,792 479 6,539 --2,159 121,939
Total Financial liabilities 106,042 728,665 303,648 800,396 119,206 222,471 891,028 3,171,455Net financial wealth 616,660 --225,153 --255,134 0 0 0 --136,373 0
1 Monetary authorities, credit institutions and monetary undertakings for collective invest-ment.
2 Including the Fund for the Protection of Deposits and Financial instruments.
3 on-monetary undertakings for collective investment, the postal Cheque Office (up to thecreation of the Postbank in April 1998), the Rediscount and Guarantee Institute (up to itsdissolution in 1999), securities dealers, mortgage companies, regional social housingcompanies and financial holding corporations.
91Statistical bulletin of the National Bank of Belgium (2003--IV)
13.4 FINANCIAL BALANCE SHEETS (CONTINUED)
(end of period outstanding amounts, millions of euro)
Individuals Non-finan-cial corpo-rations
GeneralGovern-ment
Monetaryfinancialinstitu-tions 1
Insurancecorpora-tions andpensionfunds 2
Other finan-cial institu-tions 3
Rest of theworld
Total
2002Financial assets
Monetary gold and Special Drawing Rights - - - 5,881 - - - 5,881
Currency and deposits 202,864 63,629 4,647 197,207 3,535 27,502 273,297 772,681
Currency 9,258 742 - 1,959 - - 0 11,959
Sight deposits 26,415 21,547 2,993 13,045 1,794 4,377 38,144 108,315
Other deposits 167,192 41,340 1,654 182,203 1,741 23,125 235,153 652,407
Securities other than shares 160,698 14,550 14,018 222,081 56,295 21,966 137,426 627,035
Short-term 1,109 3,953 7,015 16,521 298 628 26,424 55,948
Long-term 159,589 10,597 7,003 205,454 55,561 20,823 111,002 570,029
Financial derivatives - - - 107 436 515 - 1,058
Loans 20 97,033 15,105 287,948 6,604 21,418 125,025 553,153
Short-term loans 13 214 3,548 102,264 1,676 2,215 58,652 168,582
Long-term loans 7 96,820 11,557 185,684 4,928 19,202 66,373 384,571
Shares 87,366 323,129 3,744 28,271 22,918 99,961 203,118 768,506
Quoted shares 29,696 63,125 564 11,754 21,342 42,565 43,508 212,554
Unquoted shares and other equity 57,669 260,004 3,180 16,517 1,577 57,396 159,610 555,953
Mutual fund shares 100,853 - 700 774 18,868 6,491 870 128,556
Insurance technical reserves 115,027 5,503 - - - - - 120,530
Miscellaneous --871 13,744 14,521 63,249 13,342 6,656 21,747 132,388
Total Financial assets 665,956 517,588 52,735 805,410 121,562 183,995 761,483 3,108,729Financial liabilities
Monetary gold and Special Drawing Rights - - - - - - 5,881 5,881
Currency and deposits 0 0 549 547,598 - - 224,534 772,681
Currency 0 0 549 6,879 - - 4,530 11,959
Sight deposits 0 0 - 100,586 - - 7,730 108,315
Other deposits 0 0 - 440,133 - - 212,274 652,407
Securities other than shares 0 27,577 259,959 76,181 - 6,653 256,665 627,035
Short-term - 9,732 30,954 8,749 - 1,494 5,019 55,948
Long-term 0 17,845 229,005 66,916 - 5,072 251,192 570,029
Financial derivatives - 0 - 516 - 88 455 1,058
Loans 101,562 174,272 35,816 53,344 2,164 17,615 168,379 553,153
Short-term loans 5,963 55,661 5,057 40,689 1,828 4,681 54,704 168,582
Long-term loans 95,599 118,611 30,760 12,655 336 12,934 113,676 384,571
Shares - 490,123 - 37,657 6,964 77,100 156,663 768,506
Quoted shares - 66,056 - 1,173 0 44,479 100,845 212,554
Unquoted shares and other equity - 424,067 - 36,484 6,964 32,620 55,817 555,953
Mutual fund shares - 0 - 1,730 - 76,509 50,316 128,556
Insurance technical reserves - - - - 111,921 - 8,609 120,530
Miscellaneous 7,841 25,509 12,147 88,900 514 6,118 --8,641 132,388
Total Financial liabilities 109,403 717,481 308,472 805,410 121,562 183,995 862,406 3,108,729Net financial wealth 556,553 --199,893 --255,737 0 0 0 --100,923 0
1 Monetary authorities, credit institutions and monetary undertakings for collective invest-ment.
2 Including the Fund for the Protection of Deposits and Financial instruments.
3 on-monetary undertakings for collective investment, the postal Cheque Office (up to thecreation of the Postbank in April 1998), the Rediscount and Guarantee Institute (up to itsdissolution in 1999), securities dealers, mortgage companies, regional social housingcompanies and financial holding corporations.
92 Statistical bulletin of the National Bank of Belgium (2003--IV)
13.4 FINANCIAL BALANCE SHEETS (CONTINUED)
(end of period outstanding amounts, millions of euro)
Individuals Non-finan-cial corpo-rations
GeneralGovern-ment
Monetaryfinancialinstitu-tions 1
Insurancecorpora-tions andpensionfunds 2
Other finan-cial institu-tions 3
Rest of theworld
Total
2003 IIFinancial assets
Monetary gold and Special Drawing Rights - - - 5,762 - - - 5,762
Currency and deposits 213,360 67,411 7,742 214,905 4,620 29,667 289,958 827,663
Currency 9,258 809 - 1,614 - - 0 11,681
Sight deposits 29,101 22,311 3,218 16,282 3,041 4,922 48,171 127,046
Other deposits 175,001 44,291 4,524 197,009 1,579 24,744 241,787 688,936
Securities other than shares 146,927 13,615 9,716 216,772 64,411 20,041 157,412 628,894
Short-term 986 3,198 2,223 12,383 376 463 39,568 59,198
Long-term 145,940 10,416 7,494 203,864 63,582 18,888 117,843 568,028
Financial derivatives - - - 525 453 689 - 1,668
Loans 17 111,075 13,688 285,820 6,326 20,071 112,549 549,545
Short-term loans 10 258 1,828 98,604 489 1,546 46,835 149,570
Long-term loans 6 110,817 11,860 187,216 5,838 18,525 65,714 399,976
Shares 83,055 330,657 3,838 27,077 21,253 100,703 208,000 774,583
Quoted shares 30,970 67,587 746 10,970 19,743 45,332 39,738 215,086
Unquoted shares and other equity 52,085 263,070 3,093 16,107 1,510 55,371 168,262 559,497
Mutual fund shares 100,594 - 636 648 21,525 6,584 1,014 131,001
Insurance technical reserves 124,949 5,935 - - - - - 130,884
Miscellaneous --5,036 854 16,468 84,661 13,494 8,068 37,099 155,609
Total Financial assets 663,865 529,546 52,089 835,644 131,630 185,135 806,032 3,203,941Financial liabilities
Monetary gold and Special Drawing Rights - - - - - - 5,762 5,762
Currency and deposits 0 0 620 574,120 - - 252,923 827,663
Currency 0 0 620 4,476 - - 6,586 11,681
Sight deposits 0 0 - 115,933 - - 11,113 127,046
Other deposits 0 0 - 453,711 - - 235,225 688,936
Securities other than shares 0 28,462 263,383 69,918 - 6,411 260,720 628,894
Short-term - 9,526 37,023 6,710 - 2,048 3,891 59,198
Long-term 0 18,937 226,361 62,517 - 3,839 256,374 568,028
Financial derivatives - 0 - 690 - 523 455 1,668
Loans 104,364 173,112 35,346 39,165 2,196 19,625 175,737 549,545
Short-term loans 5,497 55,998 4,452 26,995 1,874 6,128 48,626 149,570
Long-term loans 98,867 117,114 30,894 12,170 322 13,497 127,111 399,976
Shares - 492,973 - 38,016 7,252 75,661 160,682 774,583
Quoted shares - 64,024 - 1,539 0 44,378 105,145 215,086
Unquoted shares and other equity - 428,949 - 36,477 7,252 31,284 55,536 559,497
Mutual fund shares - 0 - 1,845 - 77,853 51,303 131,001
Insurance technical reserves - - - - 121,596 - 9,288 130,884
Miscellaneous 9,209 27,045 9,177 112,581 586 5,585 --8,573 155,609
Total Financial liabilities 113,573 721,593 308,525 835,644 131,630 185,135 907,841 3,203,941Net financial wealth 550,292 --192,046 --256,437 0 0 0 --101,809 0
1 Monetary authorities, credit institutions and monetary undertakings for collective invest-ment.
2 Including the Fund for the Protection of Deposits and Financial instruments.
3 on-monetary undertakings for collective investment, the postal Cheque Office (up to thecreation of the Postbank in April 1998), the Rediscount and Guarantee Institute (up to itsdissolution in 1999), securities dealers, mortgage companies, regional social housingcompanies and financial holding corporations.
93S
tatisticalbulletinofthe
NationalB
ankofB
elgium(2003--IV
)
14 CHAPTER 14: FINANCIAL INTERMEDIARIES14.2 FINANCIAL STATEMENTS OF THE EUROSYSTEM AND OF THE NATIONAL BANK OF BELGIUM14.2.1 CONSOLIDATED WEEKLY FINANCIAL STATEMENT OF THE EUROSYSTEM (FROM 1999 ONWARDS)
(millions of euro)
2003 2004
26 Sep. 3 Oct. 10 Oct. 17 Oct. 24 Oct. 31 Oct. 7 Nov. 14 Nov. 21 Nov. 28 Nov. 5 Dec. 12 Dec. 19 Dec. 26 Dec. 2 Jan.
AssetsGold and gold receivables 119,722 130,822 130,822 130,822 130,822 130,769 130,717 130,609 130,534 130,438 130,374 130,267 130,214 130,187 130,344
Claims on non-euro area residents denomi-nated in foreign currency 202,375 200,970 200,836 198,294 197,989 199,673 198,814 195,684 196,135 194,755 194,496 192,687 189,867 189,453 176,783
Receivables from the IMF 32,251 32,205 32,205 32,284 32,168 32,147 32,157 32,204 31,944 31,917 31,926 31,926 30,254 30,352 29,130
Balances with banks and security invest-ments, external loans and other externalassets 170,124 168,765 168,631 166,010 165,821 167,526 166,657 163,480 164,191 162,838 162,570 160,761 159,613 159,101 147,653
Claims on euro area residents denominatedin foreign currency 14,800 15,054 15,765 15,793 16,373 15,382 15,911 15,773 15,230 14,151 15,802 16,301 17,750 17,959 17,379
Claims on non-euro area residents denomi-nated in euro 4,579 5,001 4,727 4,918 5,087 5,020 4,998 5,098 5,540 5,451 5,279 5,531 5,912 5,979 6,314
Balances with banks, security invest-ments and loans 4,579 5,001 4,727 4,918 5,087 5,020 4,998 5,098 5,540 5,451 5,279 5,531 5,912 5,979 6,314
Claims arising from the credit facility un-der the ERM-II 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Lending to euro area credit institutions re-lated to monetary policy operations denomi-nated in euro 276,082 249,311 250,032 240,255 248,044 252,050 246,128 247,031 262,510 270,312 292,351 282,024 284,029 276,022 298,047
Main refinancing operations 231,001 204,000 205,001 194,999 203,002 207,000 200,999 201,999 217,001 225,292 247,290 237,000 238,999 230,998 253,001
Longer-term refinancing operations 45,000 45,000 45,000 45,000 45,000 44,999 44,999 44,999 44,999 45,000 45,000 45,000 45,000 45,000 45,000
Fine-tuning reverse operations 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Structural reverse operations 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Marginal lending facility 49 283 0 225 11 23 49 7 484 6 44 4 9 5 18
Credits related to margin calls 32 28 31 31 31 28 81 26 26 14 17 20 21 19 28
Other claims on euro area credit institutionsdenominated in euro 1 348 358 287 386 385 442 595 732 849 773 470 456 687 720 819
Securities of euro area residents denomi-nated in euro 51,164 51,157 51,931 52,407 52,517 53,007 53,354 53,124 53,037 53,627 54,294 53,865 54,115 54,130 61,323
General government debt denominated ineuro 43,783 43,757 43,757 43,757 43,757 43,776 43,776 43,757 43,758 43,762 43,764 43,768 43,655 42,902 42,686
Other assets 116,366 117,182 117,770 117,046 117,543 118,487 119,256 120,055 119,470 120,070 121,508 122,146 122,476 117,805 104,626
Total Assets 829,239 813,612 815,927 803,678 812,517 818,606 813,549 811,863 827,063 833,339 858,338 847,045 848,705 835,157 838,321
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14.2.1 CONSOLIDATED WEEKLY FINANCIAL STATEMENT OF THE EUROSYSTEM (FROM 1999 ONWARDS) (CONTINUED)
(millions of euro)
20042003
2 Jan.26 Dec.19 Dec.12 Dec.5 Dec.28 Nov.21 Nov.14 Nov.7 Nov.31 Oct.24 Oct.17 Oct.10 Oct.3 Oct.26 Sep.
LiabilitiesBanknotes in circulation 391,457 397,614 397,974 396,826 395,434 398,372 401,898 401,928 400,546 405,240 416,207 419,730 429,510 439,206 434,251
Liabilities to euro area credit institutions re-lated to monetary policy operations denomi-nated in euro 135,669 129,449 132,750 131,003 127,802 128,223 133,421 132,484 129,023 124,993 137,409 129,462 129,848 113,541 152,917
Current accounts 135,655 129,445 132,685 130,263 127,788 128,206 133,401 132,425 127,185 124,942 137,393 129,450 129,745 113,508 152,814
Deposit facility 14 4 63 739 13 14 15 58 1,838 50 15 12 103 33 102
Fixed term deposits 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Fine-tuning reverse operations 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deposits related to margin calls 0 0 2 1 1 3 5 1 0 1 1 0 0 0 1
Other liabilities to euro area credit institu-tions denominated in euro 2 75 115 136 187 187 187 208 208 208 208 251 251 251 256 257
Debt certificates issued 2,029 2,029 2,029 2,029 2,029 2,029 1,054 1,054 1,054 1,054 1,054 1,054 1,054 1,054 1,054
Liabilities to other euro area residents de-nominated in euro 76,112 49,965 48,196 40,409 53,524 55,000 41,403 43,185 62,189 70,342 70,679 64,817 55,151 48,076 35,584
General government 70,878 44,360 42,840 35,151 48,352 49,360 35,974 37,326 56,340 64,226 64,820 59,079 49,431 42,245 29,786
Other liabilities 2 5,234 5,605 5,356 5,258 5,172 5,640 5,429 5,859 5,849 6,116 5,859 5,738 5,720 5,831 5,798
Liabilities to non-euro area residents de-nominated in euro 9,329 9,450 9,380 9,493 9,397 9,572 9,621 9,655 9,762 9,696 9,726 9,480 9,466 10,334 10,057
Liabilities to euro area residents denomi-nated in foreign currency 760 679 661 643 651 828 726 749 729 665 682 655 601 580 499
Liabilities to non-euro area residents de-nominated in foreign currency 15,420 17,186 17,750 15,151 15,545 16,230 17,150 14,238 14,643 12,308 13,616 12,434 12,671 12,595 12,344
Deposits, balances and other liabilities 15,420 17,186 17,750 15,151 15,545 16,230 17,150 14,238 14,643 12,308 13,616 12,434 12,671 12,595 12,344
Liabilities arising from the credit facilityunder the ERM II 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Counterpart of special drawing rights allo-cated by the IMF 5,997 5,991 5,991 5,991 5,991 5,991 5,991 5,991 5,991 5,991 5,991 5,991 5,991 5,991 5,757
Other liabilities 65,165 64,958 64,882 65,767 65,776 65,991 65,892 66,184 66,729 66,651 66,528 66,972 67,959 67,320 54,398
Revaluation accounts 62,226 71,174 71,174 71,174 71,174 71,174 71,174 71,174 71,174 71,174 71,174 71,174 71,174 71,174 69,141
Capital and reserves 65,000 65,002 65,004 65,005 65,007 65,009 65,011 65,013 65,015 65,017 65,021 65,025 65,029 65,030 62,062
Total Liabilities 829,239 813,612 815,927 803,678 812,517 818,606 813,549 811,863 827,063 833,339 858,338 847,045 848,705 835,157 838,321
1 Until the end of 2000 : Other claims ; From 2001 onwards : Other claims on euro area credit institutions, denominated in euro.2 From 2001 onwards : Split of the old series ”Other claims” into two series ”Other liabilities” and ”Other liabilities to euro area credit
institutions, denominated in euro”.
Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 1999-I, p 18-19.
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14.2.2 MONTHLY FINANCIAL STATE OF THE NATIONAL BANK OF BELGIUM
(millions of euro)
2002 2003
Dec. Jan. Feb. March April May June July Aug. Sep. Oct. Nov. Dec.
Assets 37,256 37,199 39,372 33,257 32,027 37,447 39,510 37,793 39,411 39,747 40,117 39,218 47,718
Gold and gold receivables 2,711 2,711 2,711 2,553 2,553 2,553 2,504 2,504 2,504 2,736 2,736 2,736 2,739
Claims on non-euro area residents denominatedin foreign currency 11,305 11,368 11,150 9,989 9,322 9,465 9,347 9,527 9,600 9,428 9,297 9,220 8,704
Receivables from the IMF 3,170 3,170 3,145 3,135 3,200 3,208 3,258 3,258 3,284 3,239 3,239 3,186 3,026
Balances with banks and security investments,external loans and other external assets 8,135 8,198 8,005 6,854 6,122 6,257 6,089 6,269 6,316 6,189 6,058 6,034 5,678
Claims on euro area residents denominated inforeign currency 298 201 190 159 307 291 339 341 326 298 254 437 321
Claims on non-euro area residents denominatedin euro 4 10 8 8 7 6 9 7 80 89 161 212 245
Lending to euro area credit institutions related tomonetary policy operations denominated in euro 10,877 10,416 12,039 6,099 5,075 10,256 11,643 9,997 10,587 10,097 10,040 8,500 16,749
Main refinancing operations 10,877 10,416 12,039 6,091 5,067 10,228 11,643 9,997 10,587 10,097 10,040 8,500 16,749
Longer-term refinancing operations 0 0 0 8 8 8 0 0 0 0 0 0 0
Fine-tuning reverse operations 0 0 0 0 0 0 0 0 0 0 0 0 0
Structural reverse operations 0 0 0 0 0 0 0 0 0 0 0 0 0
Marginal lending facility 0 0 0 0 0 20 0 0 0 0 0 0 0
Credits related to margin calls 0 0 0 0 0 0 0 0 0 0 0 0 0
Other claims on euro area credit institutions de-nominated in euro 1 0 0 0 0 0 0 0 1 0 0 0 0 0
Securities of euro area residents denominated ineuro 3,663 3,656 3,658 3,981 3,982 3,986 4,005 4,005 4,189 4,287 4,217 4,166 4,109
Intra-eurosystem claims 6,388 7,119 7,811 8,435 8,967 9,079 9,411 9,405 10,084 10,462 11,292 11,820 12,654
Participating interest in ECB 143 143 143 143 143 143 143 143 143 143 143 143 143
Claims equivalent to the transfer of foreign re-serves 1,433 1,433 1,433 1,433 1,433 1,433 1,433 1,433 1,433 1,433 1,433 1,433 1,433
Claims related to banknote issue 2 4,812 5,543 6,235 6,859 7,391 7,503 7,829 7,829 8,508 8,886 9,716 10,244 11,078
Other claims within the Eurosystem (net) 0 0 0 0 0 0 6 0 0 0 0 0 0
Other assets 2,010 1,718 1,805 2,033 1,814 1,811 2,252 2,006 2,041 2,350 2,120 2,127 2,197
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14.2.2 MONTHLY FINANCIAL STATE OF THE NATIONAL BANK OF BELGIUM (CONTINUED)
(millions of euro)
20032002
Dec.Nov.Oct.Sep.Aug.JulyJuneMayAprilMarchFeb.Jan.Dec.
Liabilities 37,256 37,199 39,372 33,257 32,027 37,447 39,510 37,793 39,411 39,747 40,117 39,218 47,718
Banknotes in circulation 2 11,964 11,051 11,243 11,481 11,906 12,076 12,304 12,182 12,709 12,780 12,967 13,191 14,200
Liabilities to euro area credit institutions related tomonetary policy operations denominated in euro 4,482 6,637 6,931 7,519 5,241 8,427 4,462 7,815 6,949 7,251 5,114 5,439 8,325
Current accounts 4,482 6,637 6,931 7,519 5,241 8,427 4,462 7,815 6,949 7,251 5,114 5,439 8,325
Deposit facility 0 0 0 0 0 0 0 0 0 0 0 0 0
Fixed term deposits 0 0 0 0 0 0 0 0 0 0 0 0 0
Fine-tuning reverse operations 0 0 0 0 0 0 0 0 0 0 0 0 0
Deposits related to margin calls 0 0 0 0 0 0 0 0 0 0 0 0 0
Other liabilities to euro area credit institutions de-nominated in euro 3 0 0 0 0 0 0 0 0 0 0 0 0 0
Liabilities to other euro area residents denomi-nated in euro 123 155 134 180 172 176 180 164 143 167 182 164 181
General government 115 146 123 163 158 159 164 152 130 150 159 134 152
Other liabilities 3 8 9 11 17 14 17 16 12 13 17 23 30 29
Liabilities to non-euro area residents denominatedin euro 233 91 56 77 103 71 68 57 100 93 68 56 271
Liabilities to euro area residents denominated inforeign currency 0 0 0 0 0 0 0 0 0 0 148 105 52
Liabilities to non-euro area residents denominatedin foreign currency 854 912 1,050 911 660 807 899 1,125 1,151 1,099 848 1,065 1,032
Counterpart of special drawing rights allocated bythe IMF 629 629 629 612 612 612 596 595 595 594 594 594 572
Intra-eurosystem liabilities 12,916 11,579 13,408 6,937 8,042 9,972 15,454 10,470 12,381 11,963 14,587 12,985 17,846
Liabilities related to promissory notes backingthe issuance of ECB debt certificates 0 0 0 0 0 0 0 0 0 0 0 0 0
Liabilities related to banknote issue 2 0 0 0 0 0 0 0 0 0 0 0 0 0
Other liabilities within the Eurosystem (net) 12,916 11,579 13,408 6,937 8,042 9,972 15,454 10,470 12,381 11,963 14,587 12,985 17,846
Other liabilities 1,960 2,050 1,754 1,770 1,521 1,536 1,819 1,657 1,655 1,912 1,721 1,731 1,545
Revaluation accounts 2,902 2,902 2,902 2,505 2,505 2,505 2,463 2,463 2,463 2,623 2,623 2,623 2,429
Capital and reserves 1,193 1,193 1,265 1,265 1,265 1,265 1,265 1,265 1,265 1,265 1,265 1,265 1,265
1 Until the end of 2000 : Other claims ; From 2001 onwards : Other claims on euro area credit institutions, denominated in euro.2 From 2002 onwards: According to the accounting regime chosen by the Eurosystem on the issue of euro banknotes, a share of 8
% of the total value of the euro banknotes in circulation is allocated to the ECB on a monthly basis. The counterpart of this adjustmentis disclosed as an ”Intra-Eurosystem liability related to banknote issue”.The remaining 92 % of the value of the euro banknotes in circulation are allocated to the NCBs on a monthly basis too, wherebyeach NCB shows in its balance sheet a share of the euro banknotes issued corresponding to its paid-up share in the ECB’s capital(Capital Share Mechanism or CSM).
The difference between the value of the euro banknotes allocated to the NCB according to the aforementioned accounting regime,and the value of euro banknotes put into circulation, is also disclosed as an ”Intra-Eurosystem claim/liability related to banknoteissue”.
3 From 2001 onwards : Split of the old series ”Other claims” into two series ”Other liabilities” and ”Other liabilities to euro area creditinstitutions, denominated in euro”.
Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 1999-I, p 18-19.
97Statistical bulletin of the National Bank of Belgium (2003--IV)
14.2.4 BALANCE SHEET OF THE NATIONAL BANK OF BELGIUM BEFORE DISTRIBUTION OF PROFIT(FROM 1999 ONWARDS)
(millions of euro)
1999 2000 2001 2002
31 Dec. 31 Dec. 31 Dec. 31 Dec.
ASSETS1 Gold and gold receivables 2,403 2,431 2,614 2,7112 Claims on non-euro area residents denominated in foreign cur-
rency 10,885 10,741 12,781 11,3052.1 Receivables from the IMF 2,807 2,616 3,256 3,170
2.2 Balances with banks and security investments, external loansand other external assets 8,078 8,125 9,525 8,135
3 Claims on euro area residents denominated in foreign currency 138 459 799 2984 Claims on non-euro area residents denominated in euro 9 9 8 45 Lending to euro area credit institutions related to monetary policy
operations denominated in euro 20,457 15,441 7,570 10,8775.1 Main refinancing operations 5,437 14,811 7,500 10,877
5.2 Longer-term refinancing operations 15,015 630 70 0
5.3 Fine-tuning reverse operations 0 0 0 0
5.4 Structural reverse operations 0 0 0 0
5.5 Marginal lending facility 5 0 0 0
5.6 Credits related to margin calls 0 0 0 0
6 Other claims on euro area credit institutions denominated in euro 1 0 0 07 Securities of euro area residents denominated in euro 3,683 3,629 3,622 3,6638 Intra-Eurosystem claims 1,576 1,577 1,576 6,404
8.1 Participating interest in ECB capital 143 143 143 143
8.2 Claims equivalent to the transfer of foreign reserves 1,433 1,433 1,433 1,433
8.3 Net claims related to the allocation of euro banknotes within theEurosystem 4,791
8.4 Other claims within the Eurosystem (net) 0 0 0 37
9 Other assets 2,159 2,227 2,233 2,3459.1 Coins of euro area 10 7 26 10
9.2 Tangible fixed assets 320 327 353 370
9.3 Other financial assets 1,326 1,360 1,438 1,528
9.4 Off-balance-sheet instruments: revaluation differences 0 1 0 118
9.5 Accruals and deferred expenditure 309 309 243 217
9.6 Sundry 194 223 173 102
Total ASSETS 41,312 36,515 31,203 37,607
98 Statistical bulletin of the National Bank of Belgium (2003--IV)
14.2.4 BALANCE SHEET OF THE NATIONAL BANK OF BELGIUM BEFORE DISTRIBUTION OF PROFIT(FROM 1999 ONWARDS) (CONTINUED)
(millions of euro)
2002200120001999
31 Dec.31 Dec.31 Dec.31 Dec.
LIABILITIES1 Banknotes in circulation 12,947 12,905 8,627 11,9642 Liabilities to euro area credit institutions related to monetary
policy operations denominated in euro 3,509 7,130 5,945 4,4822.1 Current accounts (covering the minimum reserve system) 3,459 7,130 5,922 4,482
2.2 Deposit facility 50 0 23 0
2.3 Fixed-term deposits 0 0 0 0
2.4 Fine-tuning reverse operations 0 0 0 0
2.5 Deposits related to margin calls 0 0 0 0
3 Other liabilities to euro area credit institutions denominated ineuro 0 0 0 0
4 Liabilities to other euro area residents denominated in euro 96 83 127 1244.1 General government 64 62 118 116
4.2 Other liabilities 32 21 9 8
5 Liabilities to non-euro area residents denominated in euro 377 180 81 2346 Liabilities to euro area residents denominated in foreign currency 0 0 0 07 Liabilities to non-euro area residents denominated in foreign cur-
rency 570 983 1,869 8548 Counterpart of special drawing rights allocated by the IMF 662 679 691 6299 Intra-Eurosystem liabilities 16,276 6,536 5,169 12,916
9.1 Liabilities related to promissory notes backing the issuance ofECB debt certificates 0 0 0 0
9.2 Net liabilities related to the allocation of euro banknotes within theEurosystem 0
9.3 Other liabilities within the Eurosystem (net) 16,276 6,536 5,169 12,916
10 Other liabilities 1,047 1,482 1,652 45910.1 Off-balance-sheet instruments: revaluation differences 10 0 8 0
10.2 Accruals and deferred income 9 14 8 6
10.3 Sundry 1,028 1,468 1,636 453
11 Provisions 798 988 1,181 1,38711.1 For future exchange losses 441 614 756 925
11.2 For new premises 19 11 7 0
11.3 For contingencies 330 363 418 462
12 Revaluation accounts 3,674 4,081 4,295 2,90213 Capital and Reserve Fund 1,338 1,368 1,460 1,549
13.1 Capital 10 10 10 10
13.2 Reserve Fund 1,328 1,358 1,450 1,539
Statutory reserve 90 93 97 101
Extraordinary reserve 933 953 1,015 1,082
Amortisation accounts in respect of tangible fixed assets 306 312 338 356
14 Profit for the year 57 99 106 107Total LIABILITIES 41,312 36,515 31,203 37,607
Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2000-III, p. 25.
99Statistical bulletin of the National Bank of Belgium (2003--IV)
14.5.1 BALANCE SHEETS OF THE CREDIT INSTITUTIONS AS A WHOLE
(millions of euro)
2003
March April May June July Aug. Sep. Oct. p Nov. p
AssetsLiquid ressources and interbankclaims 213,012 217,559 222,089 207,131 209,574 200,882 197,492 213,453 215,852
Cash, credit balances with centralbanks and postal cheque offices 1,938 2,400 2,343 2,126 2,108 1,809 2,135 2,012 2,285
Claims on credit institutions 211,074 215,160 219,746 205,005 207,466 199,073 195,357 211,440 213,567
At sight 23,139 23,789 29,905 30,530 27,382 22,886 24,207 27,774 22,525
Other claims 187,935 191,371 189,840 174,475 180,084 176,187 171,150 183,666 191,042
Claims on customers 305,061 306,335 303,094 309,962 304,491 304,251 313,512 315,890 318,899Claims originally granted by the insti-tutions 294,813 296,429 292,683 299,222 296,604 296,219 302,384 305,051 308,606
Commercial bills 1,850 1,835 1,795 1,835 1,855 1,865 1,807 1,836 1,841
Own acceptances 410 558 527 398 519 475 375 433 393
Leasing claims and similar claims 1,427 1,389 809 1,369 1,348 1,370 1,394 1,462 1,442
Non-mortgage loans by instalment 12,213 13,082 13,010 12,795 12,848 12,630 12,505 12,452 12,333
Mortgage loans 67,638 68,126 68,643 69,489 70,243 70,756 71,575 72,526 73,238
Fixed-term loans 189,541 189,456 183,928 191,629 189,701 189,347 193,821 196,076 197,225
Current account advances 20,828 21,166 23,213 20,796 19,187 18,938 20,200 19,552 21,387
Other credits 906 819 759 911 903 839 707 713 746
Other debtors 10,248 9,906 10,411 10,739 7,887 8,031 11,128 10,839 10,294
Securities and other negotiable in-struments 1 221,367 227,057 234,529 232,034 232,712 238,150 238,372 240,304 247,078
Public paper 13,158 15,021 15,467 12,848 12,444 14,940 14,242 11,846 13,360
Eligible for refinancing at centralbanks 8,880 8,847 9,408 7,828 8,541 10,404 9,200 9,004 10,189
Other 4,279 6,174 6,059 5,020 3,903 4,536 5,042 2,842 3,171
Other short-term negotiable instru-ments 8,752 11,182 13,303 10,409 13,310 12,798 8,834 10,226 11,162
Public long-term securities 130,680 131,570 136,825 138,425 136,266 138,851 143,911 146,835 150,289
Other long-term loans representedby securities 63,803 64,445 64,124 65,417 65,455 66,063 65,766 65,804 66,556
Company shares and other equity 3,331 3,145 3,121 3,208 3,511 3,769 3,789 3,746 3,876
Other securities 1,642 1,693 1,689 1,726 1,726 1,729 1,830 1,846 1,835
Fixed assets 30,427 29,613 29,553 29,785 29,743 29,781 29,736 29,854 29,875Financial fixed assets 26,595 25,799 25,744 25,985 25,962 26,011 25,988 26,113 26,133
of which: 2
Loans of general governmentLoans of other issuersParticipations in affiliated enterpri-ses 21,941 21,118 21,111 21,301 21,311 21,360 21,355 21,434 21,461
Participations in other enterpriseslinked by a participating interest 2,007 2,029 2,028 2,044 2,024 2,019 1,946 1,939 1,935
Other financial fixed assets 2,253 2,258 2,209 2,245 2,246 2,251 2,306 2,359 2,356
Shares 743 749 701 665 666 666 737 688 692
Subordonated claims on affili-ated enterprises and enter-prises linked by a participatinginterestOther 32 33 33 33 32 33 33 33 35
Tangible fixed assets 3,416 3,410 3,409 3,404 3,386 3,380 3,364 3,360 3,363
Formation costs and intangible fixedassets 416 405 400 397 394 390 385 380 380
Own shares 0 0 0 0 0 5 0 0 0Other assets 58,946 79,773 92,365 61,927 75,762 73,988 68,978 63,082 62,316
Total Assets 828,813 860,337 881,629 840,839 852,282 847,057 848,089 862,582 874,021
100 Statistical bulletin of the National Bank of Belgium (2003--IV)
14.5.1 BALANCE SHEETS OF THE CREDIT INSTITUTIONS AS A WHOLE (CONTINUED)
(millions of euro)
2003
Nov. pOct. pSep.Aug.JulyJuneMayAprilMarch
LiabilitiesInterbank debts 242,003 254,648 259,303 253,602 257,518 256,396 254,958 266,220 276,965
At sight 32,979 36,474 43,694 39,897 47,365 38,154 43,966 47,253 58,691
Mobilisation debts 88,518 91,795 93,772 92,378 87,627 86,634 88,355 95,232 94,769
Other debts at fixed term or notice 120,506 126,378 121,837 121,327 122,525 131,607 122,636 123,735 123,505
Debts to customers 388,526 391,551 394,548 388,121 381,152 380,494 386,824 393,984 397,343Deposits 334,307 338,227 339,340 337,842 335,691 333,873 332,520 337,406 340,045
Sight deposits 87,477 88,550 85,659 92,695 89,380 84,722 89,083 86,776 87,112
At fixed term or at notice < 1 month 29,446 32,628 35,082 29,166 29,538 29,132 25,647 32,597 32,802
At fixed term or at notice >= 1month and <= 1 year 57,254 56,458 57,625 53,681 55,349 58,001 55,157 54,489 55,973
At fixed term or at notice > 1 year 29,952 29,743 29,153 29,105 28,310 28,561 28,919 29,165 29,127
Special deposits 5,842 5,468 6,125 6,233 5,548 5,712 5,681 5,694 6,519
Regulated savings deposits 123,741 124,792 125,110 126,372 126,992 127,169 127,452 128,102 127,933
Linked with mortgage loans 412 403 402 405 390 391 397 400 413
Deposit guarantee scheme 184 184 184 184 184 184 184 184 167
Other creditors 54,218 53,324 55,209 50,279 45,461 46,621 54,304 56,578 57,297
Debts represented by a security 74,113 70,271 72,411 70,774 71,229 70,650 71,604 72,659 70,977Certificates of deposit and similardebts 20,928 18,261 20,914 19,842 21,077 21,003 22,482 24,058 22,742
Notes 50,840 49,979 49,441 48,848 48,089 47,588 47,067 46,571 46,143
Bond loans 2,345 2,031 2,056 2,084 2,064 2,059 2,055 2,030 2,091
Write-downs, provisions, providentfunds and deferred taxes 7,223 7,123 7,081 6,985 6,948 6,923 6,783 6,707 6,446Other liabilities 60,700 81,020 92,423 65,092 78,913 75,738 70,962 65,766 65,557Subordonated debts 23,668 23,410 23,274 23,359 23,338 23,513 23,433 23,522 23,083Own ressources 32,581 32,314 32,590 32,905 33,184 33,342 33,525 33,723 33,651
of which: 2
Capital 13,367 11,382 11,379 11,382 11,385 11,389 11,395 11,324 11,237
Subscribed capital 13,367 11,383 11,379 11,382 11,385 11,389 11,396 11,324 11,240
Uncalled capital 0 0 0 0 0 0 0 0 3
Issue premiums 7,406 7,406 7,406 7,406 7,423 7,427 7,427 7,427 7,427
Capital gains on revaluation 12 12 12 12 13 13 13 13 13
Reserves 10,097 10,092 10,074 10,090 10,087 10,091 10,081 10,082 10,040
Statutory reserve 902 901 902 902 898 902 902 902 893
Unavailable reserves 119 119 119 119 119 124 119 119 119
Tax-exempt reserves 900 900 901 900 900 901 901 901 901
Available reserves 8,176 8,171 8,153 8,169 8,169 8,164 8,160 8,160 8,127
Profit brought forward (+) or lossbrought forward (-) 753 751 773 750 754 759 762 762 721
Profit on the year (+) or loss on theyear (-) 692 2,424 2,696 2,998 3,252 3,382 3,529 3,794 3,885
Total Liabilities 828,813 860,337 881,629 840,839 852,282 847,057 848,089 862,582 874,021
N.B.: Reporting on the company’s position for credit institutions governed by belgian law andon the territorial position for branches of credit institutions governed by foreign law establishedin Belgium.
1 Contains the investment portfolio and the commercial portfolio.
2 The breakdown is not know for the branches of credit institutions governed by the law ofanother Member State of the European Union or similar for branches.
Bibliographical reference: Bulletin de la Banque Nationale de Belgique, LXIXth year, num-ber 12, November 1994.
101Statistical bulletin of the National Bank of Belgium (2003--IV)
14.6.1 OFF-BALANCE-SHEET ITEMS OF CREDIT INSTITUTIONS AS A WHOLE
(millions of euro)
2003
March April May June July Aug. Sep. Oct. p Nov. p
Spot transactions in course of settle-ment
Spot foreign exchange transactions 42,646 49,550 51,027 46,897 49,559 30,908 55,206 45,678 33,079
Lendings and borrowingsAmounts to be received 28,454 44,915 17,182 31,660 30,856 22,208 51,239 31,447 38,374
Amounts to be delivered 21,284 23,738 20,285 29,879 20,351 18,356 24,420 25,133 24,185
Purchases and sales of securities andother negotiable instruments
Amounts to be received (sales) 6,643 6,422 5,732 9,953 7,039 4,890 8,409 6,088 6,116
Amounts to be delivered (purchases) 7,858 7,945 5,976 8,740 8,782 5,566 9,870 6,425 6,693
Forward transactionsForward transactions in currencies
Forward foreign exchange transac-tions 266,108 274,682 292,533 291,638 297,555 312,307 299,904 307,631 304,707
Currency and interest swaps 54,149 53,339 51,541 52,183 53,711 53,607 52,511 53,685 54,494
Currency futures transactions 0 14 14 6 0 16 25 25 13
Currency options 67,788 68,559 71,793 71,595 77,277 83,692 92,085 104,299 105,464
Forward exchange rate contracts 2,920 2,835 2,494 2,464 2,356 2,602 2,854 2,900 2,359
Forward interest rate transactionsForward deposit contracts
To be placed 251 563 1,574 961 1,565 1,710 2,327 3,018 2,306
To be entered into 736 1,717 4,970 2,980 3,779 5,255 1,901 2,628 4,970
Interest rate swaps 2,505,425 2,414,147 2,503,792 2,489,875 2,477,995 2,532,489 2,493,727 2,527,763 2,686,148
Interest futures transactionsPurchases 53,297 41,932 43,873 39,290 44,494 45,180 32,182 39,673 38,325
Sales 54,599 59,672 71,265 62,241 58,012 57,896 57,342 55,517 53,628
Forward interest rate contractsNotional lendings 84,716 88,411 86,373 88,815 88,284 88,436 93,381 102,374 101,730
Notional borrowings 87,582 90,148 87,918 86,959 83,647 91,787 95,344 109,258 112,247
Interest rate optionsOptions issued
Notional lendings 211,105 212,389 218,950 232,453 233,352 226,415 223,821 227,666 228,594
Notional borrowings 178,355 177,564 184,383 197,171 201,516 200,235 212,385 214,041 215,822
Options acquiredNotional lendings 209,106 207,375 211,957 218,928 232,257 235,582 243,934 251,787 258,838
Notional borrowings 197,305 202,172 203,634 210,926 216,273 215,061 218,875 223,979 226,570
OtherTo be paid 0 0 0 0 0 0 0 0 0
To be received 0 0 0 0 0 0 0 0 0
Other forward transactionsSecurities
Purchases 7,146 7,324 8,334 7,738 7,053 6,544 6,537 6,939 6,553
Sales 6,292 6,450 7,355 6,595 5,786 5,389 5,432 6,065 5,632
OptionsOptions issued
Values to be received 33,287 33,906 34,164 34,815 36,599 37,135 37,348 37,247 37,078
Values to be delivered 42,702 43,804 39,710 36,393 35,774 36,607 36,597 36,229 36,778
Options acquiredValues to be received 34,442 34,208 31,543 23,647 20,498 28,127 36,163 39,554 20,520
Values to be delivered 56,220 55,908 53,464 42,637 39,447 47,028 55,946 59,535 41,777
Futures transactionsPurchases 501 992 1,581 1,284 652 670 1,299 1,285 349
Sales 3,925 5,856 6,317 2,861 2,334 2,856 2,353 2,396 2,972
OtherValues purchased 120 120 120 119 119 119 119 412 407
Values sold 120 120 120 119 119 119 119 119 119
102 Statistical bulletin of the National Bank of Belgium (2003--IV)
14.6.1 OFF-BALANCE-SHEET ITEMS OF CREDIT INSTITUTIONS AS A WHOLE (CONTINUED)
(millions of euro)
2003
Nov. pOct. pSep.Aug.JulyJuneMayAprilMarch
Proceeds and expenses covered inadvance
Proceeds receivable 1,466 1,396 1,310 1,443 1,539 1,558 1,582 1,726 1,663
Expenses payable 1,507 1,438 1,359 1,482 1,586 1,611 1,640 1,780 1,718
Commitment appropriations used 83,945 82,395 82,150 89,545 87,596 88,901 88,885 88,102 88,947
Credit lines grantedCredit lines obtained 8,614 11,151 8,883 9,006 9,188 9,261 9,148 9,237 8,817
Credit lines grantedTo credit institutions 16,852 16,812 16,352 16,803 16,417 15,952 16,380 16,174 16,107
To customersFor disbursement appropriations 207,481 197,070 178,767 185,995 186,378 188,975 203,005 200,645 201,196
For commitment appropriations 38,585 40,719 38,762 40,862 40,666 41,709 40,041 41,114 39,172
GuaranteesAssets encumbered by real securities 163,813 174,266 163,068 163,515 156,884 158,956 160,937 160,136 159,346
Guarantees obtained 1,348,555 1,327,501 1,330,384 1,367,439 1,339,859 1,354,286 1,355,032 1,407,017 1,391,554
Valuables and claims entrustedTo the institution
Without cover 6,020,088 6,074,963 6,062,510 6,217,827 6,309,123 6,444,392 6,408,428 6,592,951 6,625,104
On trustee basis 2,525 2,660 2,551 2,542 2,659 2,657 2,611 2,705 2,720
Other 6,874 7,108 7,205 7,204 10,158 10,061 9,779 9,932 9,801
By the institutionOn trustee basis 1,815 2,011 2,203 2,209 2,327 2,358 2,335 2,428 2,432
Other 6,020,337 6,068,969 6,021,670 6,206,911 6,304,574 6,421,361 6,371,700 6,508,440 6,545,538
Other rights and commitments 65,076 67,193 65,294 67,933 64,729 66,560 73,238 70,077 69,696
N.B.: Reporting based on the company’s position for credit institutions governed by Belgian law and on territorial position for branches of credit institutions governed by foreign law establishedin Belgium.
Bibliographical reference: Bulletin de la Banque Nationale de Belgique, LXIXth year, number 12, November 1994.
103Statistical bulletin of the National Bank of Belgium (2003--IV)
14.7.1 PROFIT AND LOSS ACCOUNT OF CREDIT INSTITUTIONS: QUARTERLY DATA
(millions of euro)
2001 2002 2003
III IV I II III IV I II III
ReceiptsOperating income 38,986 32,918 31,439 34,881 50,795 36,236 39,438 37,709 24,880Interest and similar proceeds 15,379 15,197 13,694 15,199 16,489 15,910 15,173 13,344 12,545
Interbank claims 2,392 2,585 1,728 1,655 1,731 1,672 1,475 1,317 1,119
Credits 3,981 3,789 3,575 3,603 3,631 3,587 3,464 3,440 3,381
Commercial bills 53 46 41 32 31 25 27 25 22
Own acceptances 10 10 9 8 8 6 6 6 4
Leasing and similar claims 12 13 13 12 13 12 14 13 13
Non-mortgage loans by instalment 228 219 222 233 230 227 225 232 231
Mortgage loans 846 874 864 880 905 920 928 946 959
Fixed-term loans 2,376 2,319 2,068 2,082 2,110 2,047 1,953 1,911 1,856
Other 457 309 357 356 333 349 313 307 296
Securities and negotiable instru-ments to be placed and to be reali-sed 288 282 318 296 297 313 318 309 317
Investments in securities and nego-tiable instruments 2,573 2,602 2,397 2,305 2,276 2,213 1,992 1,932 1,928
Forward hedging transactions 6,144 5,940 5,676 7,341 8,554 8,125 7,923 6,346 5,800
Currency hedging 1 428 355 320 345 324 154 238 225 135
Interest rate hedging 1 5,624 5,522 5,298 6,949 8,168 7,896 7,563 6,027 5,588
Incomes from shares and other vari-able-interest securities 10 12 12 75 29 0 14 38 10
Commission received for financial ser-vices provided 964 991 1,021 935 927 892 938 931 919
Other financial proceeds 22,182 15,451 16,115 17,279 32,730 18,566 22,686 22,276 10,843
Of foreign exchange activity 1,091 880 1,129 3,322 2,294 --3,625 659 443 467
Of trading in securities and otherfixed-interest negotiable instruments 361 527 574 45 1,036 222 531 658 477
Of trading in interest-rate transac-tions 19,894 13,251 13,505 13,190 28,039 21,270 19,981 19,796 9,561
Of trading in variable-interest securi-ties 638 430 289 529 841 391 690 1,005 245
Of precious metals 21 15 12 28 29 41 49 39 20
Capital gains on investment portfolioand similar operations 177 347 606 164 490 267 775 336 74
Proceeds of financial fixed assets 192 342 49 731 170 184 87 588 164
Release of write-downs and drawingson and use of provisions 138 732 420 363 214 517 388 390 277
Other operating income 121 193 127 298 236 168 154 141 121
Extraordinary proceeds 68 1,486 70 402 246 207 125 1,535 43Regularisations of tax and draw-ings from provisions for taxation 17 116 11 18 7 19 9 20 40Loss on the year 8 145 20 52 51 90 76 --4 16Drawings on deferred taxes and ontax-exempt reserves 2 7 2 2 2 8 1 1 1Loss on the year for appropriation 8 145 20 52 51 90 76 --4 16
Total Receipts 39,080 34,673 31,541 35,354 51,102 36,562 39,649 39,261 24,981
104 Statistical bulletin of the National Bank of Belgium (2003--IV)
14.7.1 PROFIT AND LOSS ACCOUNT OF CREDIT INSTITUTIONS: QUARTERLY DATA (CONTINUED)
(millions of euro)
200320022001
IIIIIIIVIIIIIIIVIII
ExpenditureOperating expenditure 38,343 32,755 30,447 33,670 50,053 35,986 38,465 36,395 24,140Interest and similar charges 13,379 13,068 11,611 13,099 14,384 13,859 13,181 11,359 10,299
Interbank debts 3,050 3,181 2,159 2,028 2,035 1,920 1,635 1,475 1,325
Debts to customers 2,759 2,432 2,355 2,403 2,444 2,408 2,351 2,259 2,000
Sight deposits 410 325 303 297 312 298 267 272 221
Fixed-term deposits and specialdeposits 1,433 1,238 1,054 1,087 1,086 995 884 828 749
Regulated savings deposits 618 635 672 694 703 727 818 826 722
Deposits linked with mortgageloans 5 4 5 5 5 4 4 4 3
Other debts to customers 294 230 321 319 338 383 378 329 304
Debts represented by a security 1,007 966 884 865 847 805 743 695 641
Certificates of deposit and similardebts 280 256 194 177 168 161 132 109 98
Notes 672 651 631 629 626 597 568 536 504
Mortgage loans 54 60 59 59 54 47 43 50 39
Subordinated debts 367 396 369 354 352 339 338 336 333
Forward hedging transactions 6,196 6,093 5,844 7,449 8,706 8,387 8,114 6,595 6,000
Currency hedging 1 436 369 340 346 334 174 257 259 112
Interest-rate hedging 1 5,662 5,661 5,448 7,052 8,312 8,133 7,779 6,276 5,840
Commission paid for recourse to finan-cial services 413 436 437 407 449 419 411 411 414
Other financial costs 21,657 15,183 15,538 17,111 32,224 18,460 21,766 21,884 10,752
Of foreign exchange activity 1,048 840 968 3,286 2,373 --3,737 648 503 416
Of trading in fixed-interest securitiesand negotiable instruments 273 777 404 265 1,013 114 439 577 485
Of trading in interest-rate transac-tions 19,791 12,965 13,850 13,033 28,111 21,281 20,019 19,558 9,503
Of trading in variable-interest securi-ties 490 509 230 444 610 514 548 1,146 272
Of precious metals 22 15 11 30 29 41 50 40 18
Capitol lossess on investment portfo-lio and similar operations 33 77 74 54 88 246 63 60 58
Remunerations, social charges andpensions 1,275 1,347 1,332 1,288 1,283 1,275 1,289 1,254 1,273
Depreciation and write-downs on non-financial fixed assets 160 180 184 165 164 182 146 145 137
Other operating costs 996 1,184 969 939 885 1,000 921 881 914
Write-downs and provisions 463 1,358 376 661 664 791 750 460 350
Extraordinary expenditure 67 493 54 31 40 391 29 377 40Taxes 313 2 327 281 436 40 406 155 189Profit on the year 354 1,416 711 1,370 571 137 747 2,334 611Transfers to deferred taxes and totax-exempt reserves 2 9 1 13 1 60 2 1 2Profit on the year for appropriation 355 1,414 712 1,359 572 85 746 2,334 610
Total Expenditure 39,080 34,673 31,541 35,354 51,102 36,562 39,649 39,261 24,981
N.B.: Reporting based on the company’s position for credit institutions governed by Belgian law and on territorial position for branches of credit institutions governed by foreign law establishedin Belgium.
1 The breakdown is not known for the branches of the credit institutions governed by the law of another Member State of the European Union or for similar branches.Bibliographical reference: Bulletin de la Banque Nationale de Belgique, LXIXth year, No. 11, November 1994.
105Statistical bulletin of the National Bank of Belgium (2003--IV)
14.9 MONETARY FINANCIAL INSTITUTIONS’ MAIN BALANCE SHEET ITEMS ESTABLISHED INBELGIUM
(millions of euro)
2003
June July Aug. Sep. Oct. Nov.
AssetsCash 1,609 1,673 1,655 1,628 1,638 1,578e
Loans 493,131 483,184 475,734 481,460 489,620 497,276e
Belgium 254,720 254,670 254,338 251,541 248,274 250,029e
to monetary financial institutions 37,749 37,604 36,542 36,073 33,263 32,715e
to institutional units other than monetary financial institutions 216,971 217,066 217,796 215,468 215,011 217,314e
of which:general government 22,333 22,943 22,246 22,502 22,157 22,710e
other residents 194,638 194,123 195,550 192,966 192,854 194,604e
Other member states of the Monetary Union 117,803 118,214 116,262 120,029 115,639 122,809e
to monetary financial institutions 101,769 102,549 100,975 104,188 100,287 106,903e
to institutional units other than monetary financial institutions 16,034 15,665 15,287 15,841 15,352 15,906e
of which:general government 46 40 30 30 30 30e
other residents 15,988 15,625 15,257 15,811 15,322 15,876e
Rest of the world 120,608 110,300 105,134 109,890 125,707 124,438e
Securities other than shares 213,689 208,797 213,488 217,558 217,992 223,353e
Belgium 76,822 78,020 81,194 79,988 80,516 84,599e
Euro 76,585 77,794 80,962 79,770 80,289 84,385e
of monetary financial institutions 1,794 2,070 2,069 2,066 1,984 1,954e
of institutional units other than monetary financial institutions 74,791 75,724 78,893 77,704 78,305 82,431e
of which:general government 71,613 72,800 76,051 74,940 75,621 79,584e
other residents 3,178 2,924 2,842 2,764 2,684 2,847e
Foreign currencies 237 226 232 218 227 214e
of monetary financial institutions 48 111 113 110 107 106e
of institutional units other than monetary financial institutions 189 115 119 108 120 108e
of which:general government 91 104 107 100 101 95e
other residents 98 11 12 8 19 13e
Other member states of the Monetary Union 108,823 105,426 104,903 109,189 110,069 111,755e
Euro 106,611 103,283 102,904 107,195 108,116 109,944e
of monetary financial institutions 17,731 18,009 18,002 17,747 18,022 18,142e
of institutional units other than monetary financial institutions 88,880 85,274 84,902 89,448 90,094 91,802e
of which:general government 75,837 72,861 72,710 76,761 77,952 79,103e
other residents 13,043 12,413 12,192 12,687 12,142 12,699e
Foreign currencies 2,212 2,143 1,999 1,994 1,953 1,811e
of monetary financial institutions 841 779 761 780 825 767e
of institutional units other than monetary financial institutions 1,371 1,364 1,238 1,214 1,128 1,044e
of which:general government 496 450 443 412 378 383e
other residents 875 914 795 802 750 661e
Rest of the world 28,044 25,351 27,391 28,381 27,407 26,999e
Money market paperEuroForeign currencies
Shares and other equity 27,848 28,138 28,424 28,494 28,472 28,621e
Fixed assets 4,134 4,116 4,106 4,087 4,083 4,098e
Remaining assets 100,391 97,614 96,134 93,615 88,553 87,727e
Total assets 840,853 823,577 819,597 826,881 830,394 842,688e
106 Statistical bulletin of the National Bank of Belgium (2003--IV)
14.9 MONETARY FINANCIAL INSTITUTIONS’ MAIN BALANCE SHEET ITEMS ESTABLISHED INBELGIUM (CONTINUED)
(millions of euro)
2003
Nov.Oct.Sep.Aug.JulyJune
LiabilitiesCurrency and coins in circulation 1 12,919 13,319 13,358 13,434 13,621 13,850Deposits 609,986 597,631 597,251 606,734 613,540 626,638e
Belgium 285,390 281,611 280,057 282,288 279,783 281,178e
Euro 275,947 271,696 270,188 272,241 269,992 270,455e
of monetary financial institutions 34,529 33,371 32,674 32,160 29,856 27,971e
of institutional units other than monetary financial institutions 241,418 238,325 237,514 240,081 240,136 242,484e
of which:general government 8,312 7,972 7,414 7,271 6,514 6,805e
other residents 233,106 230,353 230,100 232,810 233,622 235,679e
Foreign currencies 9,443 9,915 9,869 10,047 9,791 10,723e
of monetary financial institutions 3,355 4,110 3,963 3,742 3,581 4,635e
of institutional units other than monetary financial institutions 6,088 5,805 5,906 6,305 6,210 6,088e
of which:general government 30 51 44 32 29 32e
other residents 6,058 5,754 5,862 6,273 6,181 6,056e
Other member states of the Monetary Union 148,040 143,882 138,731 140,818 147,932 164,312e
Euro 129,648 123,079 118,188 122,549 126,830 135,840e
of monetary financial institutions 92,794 88,086 82,389 87,859 90,466 99,886e
of institutional units other than monetary financial institutions 36,854 34,993 35,799 34,690 36,364 35,954e
of which:general government 722 207 206 159 59 58e
other residents 36,132 34,786 35,593 34,531 36,305 35,896e
Foreign currencies 18,392 20,803 20,543 18,269 21,102 28,472e
of monetary financial institutions 10,894 13,479 12,701 10,919 13,653 21,289e
of institutional units other than monetary financial institutions 7,498 7,324 7,842 7,350 7,449 7,183e
of which:general government 53 56 61 55 61 69e
other residents 7,445 7,268 7,781 7,295 7,388 7,114e
Rest of the world 176,556 172,138 178,463 183,628 185,825 181,148e
Shares issued by monetary collective investment institutions 1,747 1,757 1,857 1,858 1,863 1,868e
Debt securities issued 69,222 67,787 67,054 66,561 67,030 65,907e
Euro 65,795 64,193 63,694 62,957 62,698 61,701e
up to 1 year 4,519 3,714 3,583 3,284 3,461 3,248e
over 1 and up to 2 years 2,775 2,760 2,727 2,692 2,634 2,657e
over 2 years 58,501 57,719 57,384 56,981 56,603 55,796e
Foreign currencies 3,427 3,594 3,360 3,604 4,332 4,206e
up to 1 year 3,111 3,283 3,050 3,304 4,045 3,919e
over 1 and up to 2 years 105 106 121 114 114 129e
over 2 years 211 205 189 186 173 158e
Capital and reserves 39,027 39,403 39,863 39,655 39,776 39,666e
Remaining liabilities 107,952 103,681 100,216 98,638 94,560 94,757e
Total liabilities 840,853 823,577 819,597 826,881 830,394 842,688e
N.B.: These are the monetary financial institutions established in Belgium.
1 From 2002 onwards: According to the accounting regime chosen by the Eurosystem on the issue of euro banknotes, a share of 8 % of the total value of the euro banknotes in circulation is allocatedto the ECB on a monthly basis. The counterpart of this adjustment is disclosed as an ”Intra-Eurosystem liability related to banknote issue”.The remaining 92 % of the value of the euro banknotes in circulation are allocated to the NCBs on a monthly basis too, whereby each NCB shows in its balance sheet a share of the euro banknotesissued corresponding to its paid-up share in the ECB’s capital (Capital Share Mechanism or CSM).The difference between the value of the euro banknotes allocated to the NCB according to the aforementioned accounting regime, and the value of euro banknotes put into circulation, is alsodisclosed as an ”Intra-Eurosystem claim/liability related to banknote issue”.
Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 1999-I, p 19.
107Statistical bulletin of the National Bank of Belgium (2003--IV)
14.10 CLAIMS ORIGINALLY GRANTED BY CREDIT INSTITUTIONS (FROM 1999 ONWARDS)14.10.1 CLAIMS ORIGINALLY GRANTED BY CREDIT INSTITUTIONS TO BELGIAN NON-FINANCIAL
CORPORATIONS - OUTSTANDING AMOUNTS (FROM 1999 ONWARDS)
(end of period, millions of euro)
Bills of ex-changeand ownacceptan-ces
Leasingand similarclaims
Non-mort-gage loansrepayableby instal-ments
Mortgageloans
Term loans Mobilisa-tion claims
Current ac-count ad-vances
Otherclaims
Total Total na-tional cur-rency 1
Total for-eign cur-rencies
2001 III 789 131 3,428 1,992 70,995 641 11,366 254 89,596 81,078 8,518
IV 875 162 3,435 2,018 70,056 2 9,574 1,094 87,216 79,761 7,455
2002 I 865 165 3,834 2,048 71,636 57 10,627 936 90,168 81,711 8,457
II 878 168 4,290 2,046 68,904 51 10,978 1,038 88,353 81,040 7,313
III 741 175 4,037 2,090 69,759 11 10,169 881 87,863 80,775 7,088
IV 759 170 3,718 1,610 68,971 17 8,347 994 84,586 78,797 5,789
2003 I 595 183 3,092 1,604 68,282 19 8,217 546 82,538 77,504 5,034
II 591 210 3,351 1,688 68,650 192 9,276 555 84,513 79,605 4,908
III p 518 168 3,112 1,793 68,753 54 7,872 504 82,774 77,886 4,888
1 The ”national currency” comprises all currencies of the EMU member states.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2000-III, p. 26.
14.10.2 CLAIMS ORIGINALLY GRANTED BY CREDIT INSTITUTIONS TO BELGIAN NON-MONETARYFINANCIAL INSTITUTIONS - OUTSTANDING AMOUNTS (FROM 1999 ONWARDS)
(end of period, millions of euro)
Bills of ex-changeand ownacceptan-ces
Leasingand similarclaims
Non-mort-gage loansrepayableby instal-ments
Mortgageloans
Term loans Mobilisa-tion claims
Current ac-count ad-vances
Otherclaims
Total Total na-tional cur-rency 1
Total for-eign cur-rencies
2001 III 24 32 137 121 15,583 756 1,060 436 18,149 16,532 1,617
IV 29 31 137 131 15,269 725 1,284 390 17,996 16,395 1,601
2002 I 36 32 140 133 15,375 1,298 1,818 6 18,838 16,846 1,992
II 34 31 148 132 16,072 1,437 986 9 18,849 16,757 2,092
III 21 30 140 133 15,580 1,452 930 9 18,295 16,853 1,442
IV 21 31 146 140 16,358 1,708 1,758 7 20,169 18,264 1,905
2003 I 11 30 602 164 17,286 1,567 1,802 8 21,470 18,865 2,605
II 13 0 612 168 17,229 1,570 1,273 5 20,870 17,818 3,052
III p 8 0 623 225 16,718 791 1,503 2 19,870 17,628 2,242
N.B.: The ”non-monetary financial institutions” sector comprises the ”other financial intermediaries”, the ”financial auxiliaries” an the ”insurance companies and pension funds”.
1 The ”national currency” comprises all currencies of the EMU member states.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2000-III, p. 26.
108 Statistical bulletin of the National Bank of Belgium (2003--IV)
14.10.3 CLAIMS ORIGINALLY GRANTED BY CREDIT INSTITUTIONS TO BELGIAN GENERALGOVERNMENT - OUTSTANDING AMOUNTS (FROM 1999 ONWARDS)
(end of period, millions of euro)
Bills of ex-changeand ownacceptan-ces
Leasingand similarclaims
Non-mort-gage loansrepayableby instal-ments
Mortgageloans
Term loans Mobilisa-tion claims
Current ac-count ad-vances
Otherclaims
Total Total na-tional cur-rency 1
Total for-eign cur-rencies
2001 III 32 558 7 12 21,657 138 1,298 2 23,705 23,611 94
IV 0 564 7 12 21,433 152 2,173 3 24,344 24,344 0
2002 I 0 550 7 12 20,400 133 1,214 3 22,319 22,318 1
II 0 548 7 11 20,419 108 1,071 2 22,166 22,142 24
III 0 546 5 11 20,182 108 976 3 21,831 21,763 68
IV 0 519 4 11 20,244 16 1,583 5 22,382 22,382 0
2003 I 0 514 8 11 20,272 5 1,949 6 22,765 22,757 8
II 1 512 10 12 20,042 6 1,742 7 22,332 22,329 3
III p 1 502 9 21 20,524 6 1,436 3 22,502 22,502 0
1 The ”national currency” comprises all currencies of the EMU member states.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2000-III, p. 26.
14.10.4 CLAIMS ORIGINALLY GRANTED BY CREDIT INSTITUTIONS TO BELGIAN HOUSEHOLDS(INCLUDING NON-PROFIT INSTITUTIONS SERVING HOUSEHOLDS) - OUTSTANDING AMOUNTS(FROM 1999 ONWARDS)
(end of period, millions of euro)
Bills of ex-changeand ownacceptan-ces
Leasingand similarclaims
Non-mort-gage loansrepayableby instal-ments
Mortgageloans
Term loans Mobilisa-tion claims
Current ac-count ad-vances
Otherclaims
Total Total na-tional cur-rency 1
Total for-eign cur-rencies
2001 III 134 29 8,368 54,649 13,544 0 3,731 215 80,669 80,259 410
IV 93 26 8,332 55,446 13,381 0 4,238 92 81,608 81,446 162
2002 I 105 36 8,056 56,165 12,967 0 3,753 100 81,182 81,048 134
II 109 36 8,487 57,316 13,069 0 3,574 136 82,727 82,577 150
III 94 28 8,188 58,237 12,398 0 3,748 108 82,801 82,694 107
IV 94 18 8,453 59,839 12,304 1 3,962 248 84,919 84,778 141
2003 I 77 36 8,365 61,574 11,266 1 3,578 214 85,111 84,973 138
II 74 15 8,676 63,293 11,697 1 3,511 273 87,540 87,386 154
III p 54 35 8,602 64,928 11,688 1 3,428 120 88,856 88,723 133
1 The ”national currency” comprises all currencies of the EMU member states.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2000-III, p. 26.
109Statistical bulletin of the National Bank of Belgium (2003--IV)
14.10.5 CLAIMS ORIGINALLY GRANTED BY CREDIT INSTITUTIONS TO THE REST OF THE WORLD -OUTSTANDING AMOUNTS (FROM 1999 ONWARDS)
(end of period, millions of euro)
Bills of ex-changeand ownacceptan-ces
Leasingand similarclaims
Non-mort-gage loansrepayableby instal-ments
Mortgageloans
Term loans Mobilisa-tion claims
Current ac-count ad-vances
Otherclaims
Total Total na-tional cur-rency 1
Total for-eign cur-rencies
2001 III 1,153 5 124 1,951 25,471 9,208 4,731 5,439 48,081 24,321 23,760
IV 1,293 4 126 2,204 24,993 18,083 2,919 718 50,340 24,477 25,863
2002 I 1,266 4 134 2,522 24,682 19,055 3,834 128 51,625 25,868 25,757
II 1,149 3 126 2,996 20,025 24,757 3,275 78 52,409 27,950 24,459
III 1,120 3 138 3,276 21,007 23,598 2,446 48 51,636 28,629 23,007
IV 1,006 14 127 3,355 18,675 39,712 2,131 55 65,075 36,687 28,388
2003 I 858 13 133 3,417 21,107 30,115 2,220 115 57,978 27,358 30,620
II 849 12 136 3,558 18,877 33,924 2,361 63 59,780 31,129 28,651
III p 761 12 150 3,813 40,168 14,811 3,074 63 62,852 26,094 36,758
1 The ”national currency” comprises all currencies of the EMU member states.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2000-III, p. 26.
110 Statistical bulletin of the National Bank of Belgium (2003--IV)
14.11 DEPOSITS AND OTHER CREDITORS HELD WITH CREDIT INSTITUTIONS ESTABLISHED INBELGIUM (FROM 1999)
14.11.1 DEPOSITS AND OTHER CREDITORS HELD WITH CREDIT INSTITUTIONS ESTABLISHED INBELGIUM BY BELGIAN NON-FINANCIAL CORPORATIONS - OUTSTANDING AMOUNTS (FROM1999)
(end of period, millions of euro)
Sight de-posits
Time depo-sits
Deposits atnotice
Special de-posits
Regulatedsavingsdeposits
Depositslinked tomortgageloans
Debts fromborrowingwith se-cured gua-rantees
Otherdebts onaccount ofloansagainst se-curity
Total Total na-tional cur-rency 1
Total for-eign cur-rencies
2001 III 20,204 19,207 0 1,630 3,144 7 4 0 44,197 40,250 3,947
IV 21,455 18,468 2 1,711 3,148 8 4 1 44,797 40,326 4,471
2002 I 21,319 18,754 1 1,668 3,309 9 335 0 45,395 40,512 4,883
II 21,744 18,119 1 1,772 3,328 10 147 0 45,121 41,391 3,730
III 22,335 18,187 1 1,777 3,489 10 104 0 45,903 41,906 3,997
IV 20,193 20,253 0 1,958 3,118 10 125 40 45,697 41,378 4,319
2003 I 21,408 16,601 1 2,004 4,233 11 116 0 44,374 41,680 2,694
II 23,646 16,053 0 2,189 4,268 12 38 0 46,206 43,008 3,198
III p 24,494 16,281 1 2,234 4,202 11 0 0 47,223 43,655 3,568
1 The ”national currency” includes the euro and the currencies of the countries joining EMU.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2001 - IV, p. 18-20.
14.11.2 DEPOSITS AND OTHER CREDITORS HELD WITH CREDIT INSTITUTIONS ESTABLISHED INBELGIUM BY BELGIAN NON-MONETARY FINANCIAL INSTITUTIONS - OUTSTANDING AMOUNTS(FROM 1999)
(end of period, millions of euro)
Sight de-posits
Time de-posits
Depositsat notice
Specialdeposits
Regulatedsavingsdeposits
Depositslinked tomortgageloans
Depositprotectionscheme 1
Debtsfrom bor-rowingwith se-cured gua-rantees
Otherdebts onaccount ofloansagainstsecurity
Total Total na-tional cur-rency 2
Total for-eign cur-rencies
2001 III 7,470 15,374 56 76 115 1 184 38 135 23,449 21,383 2,066
IV 6,812 20,502 47 87 144 0 184 40 122 27,938 26,053 1,885
2002 I 6,220 21,328 39 80 149 1 185 106 0 28,108 26,146 1,962
II 7,773 22,542 41 71 150 0 184 95 0 30,856 29,102 1,754
III 7,368 21,336 1 64 149 0 184 45 0 29,147 27,417 1,730
IV 7,547 20,003 0 66 183 0 185 292 1 28,277 26,865 1,412
2003 I 7,580 20,300 0 70 267 0 184 180 0 28,581 27,324 1,257
II 6,833 20,242 0 66 260 0 184 145 0 27,730 26,310 1,420
III p 5,989 20,618 0 64 222 0 184 59 1 27,137 25,849 1,288
N.B.: The ”non-monetary financial institutions” sector comprises the ”other financial intermediaries”, the ”financial auxiliaries” an the ”insurance corporations and pension funds”.
1 The ”deposit protection scheme” contains the institutions’ annual contributions within the framework of the deposit protection scheme. These contributions are paid to the account of the ”Protectionfund for deposits and financial instruments”, which is part of the ”insurance corporations and pension funds” sector.
2 The ”national currency” includes the euro and the currencies of the countries joining EMU.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2001 - IV, p. 18-20.
111Statistical bulletin of the National Bank of Belgium (2003--IV)
14.11.3 DEPOSITS AND OTHER CREDITORS HELD WITH CREDIT INSTITUTIONS ESTABLISHED INBELGIUM BY THE BELGIAN GENERAL GOVERNMENT - OUTSTANDING AMOUNTS (FROM1999)
(end of period, millions of euro)
Sight de-posits
Time depo-sits
Deposits atnotice
Special de-posits
Regulatedsavingsdeposits
Depositslinked tomortgageloans
Debts fromborrowingwith se-cured gua-rantees
Otherdebts onaccount ofloansagainst se-curity
Total Total na-tional cur-rency 1
Total for-eign cur-rencies
2001 III 2,980 2,662 0 56 69 0 20 0 5,787 5,686 100
IV 3,249 2,411 0 72 70 0 17 0 5,819 5,710 109
2002 I 3,532 3,309 0 75 76 0 16 0 7,008 6,946 62
II 4,153 2,926 0 76 70 0 16 0 7,241 7,179 62
III 3,668 2,745 0 77 74 0 16 0 6,580 6,429 151
IV 3,970 2,265 0 78 132 0 0 0 6,445 6,367 78
2003 I 4,085 3,817 0 99 260 0 33 0 8,294 8,244 50
II 4,968 2,869 0 99 197 0 45 0 8,178 8,148 30
III p 3,994 2,881 0 99 135 0 44 0 7,153 7,121 32
1 The ”national currency” includes the euro and the currencies of the countries joining EMU.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2001 - IV, p. 18-20.
14.11.4 DEPOSITS AND OTHER CREDITORS HELD WITH CREDIT INSTITUTIONS ESTABLISHED INBELGIUM BY BELGIAN HOUSEHOLDS AND NON-PROFIT INSTITUTIONS SERVING HOUSEHOLDS -OUTSTANDING AMOUNTS (FROM 1999)
(end of period, millions of euro)
Sight de-posits
Time depo-sits
Deposits atnotice
Special de-posits
Regulatedsavingsdeposits
Depositslinked tomortgageloans
Debts fromborrowingwith se-cured gua-rantees
Otherdebts onaccount ofloansagainst se-curity
Total Total na-tional cur-rency 1
Total for-eign cur-rencies
2001 III 24,370 26,561 18 2,508 87,339 341 0 10 141,147 139,519 1,628
IV 24,715 20,661 27 2,707 94,868 327 0 18 143,323 142,008 1,315
2002 I 26,086 18,731 28 2,728 97,006 326 0 27 144,932 143,739 1,193
II 27,964 18,166 23 2,349 97,832 342 0 59 146,735 145,661 1,074
III 25,459 17,838 15 2,320 97,888 346 0 22 143,888 142,855 1,033
IV 26,322 16,128 11 2,607 107,364 348 0 20 152,800 151,638 1,162
2003 I 28,150 13,307 10 2,665 115,751 351 0 18 160,252 159,265 987
II 29,022 12,660 10 2,169 118,399 355 0 17 162,632 161,513 1,119
III p 27,658 12,425 9 2,170 119,545 351 0 19 162,177 161,075 1,102
1 The ”national currency” includes the euro and the currencies of the countries joining EMU.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2001 - IV, p. 18-20.
112 Statistical bulletin of the National Bank of Belgium (2003--IV)
14.11.5 DEPOSITS AND OTHER CREDITORS HELD WITH CREDIT INSTITUTIONS ESTABLISHED INBELGIUM BY THE REST OF THE WORLD - OUTSTANDING AMOUNTS (FROM 1999)
(end of period, millions of euro)
Sight de-posits
Time depo-sits
Deposits atnotice
Special de-posits
Regulatedsavingsdeposits
Depositslinked tomortgageloans
Debts fromborrowingwith se-cured gua-rantees
Otherdebts onaccount ofloansagainst se-curity
Total Total na-tional cur-rency 1
Total for-eign cur-rencies
2001 III 18,471 40,174 500 427 1,829 63 12,440 9,545 83,449 56,027 27,422
IV 19,490 41,043 466 382 2,150 67 16,584 12,410 92,592 64,891 27,701
2002 I 18,137 48,848 415 362 2,273 74 23,285 1,178 94,572 63,557 31,015
II 18,686 42,395 346 335 2,237 89 33,116 0 97,204 70,524 26,680
III 17,644 43,044 320 325 2,196 85 30,190 0 93,804 64,491 29,313
IV 17,908 40,955 305 353 2,740 63 39,173 541 102,038 70,728 31,310
2003 I 19,220 46,151 289 381 3,232 50 30,484 436 100,243 64,602 35,641
II 21,767 46,300 266 394 3,248 39 26,228 0 98,242 66,999 31,243
III p 19,402 43,497 242 396 3,348 35 27,995 2,331 97,246 65,034 32,212
N.B.: Excluding debts in relation to foreign credit institutions.
1 The ”national currency” includes the euro and the currencies of the countries joining EMU.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2001 - IV, p. 18-20.
113Statistical bulletin of the National Bank of Belgium (2003--IV)
15 CHAPTER 15: FINANCIAL ASSETS HELD BY NON-FINANCIAL COMPANIES AND HOUSEHOLDS15.1 MONETARY AGGREGATES OF THE EURO AREA
(end of period, billions of euro)
Currency incirculation
Overnight de-posits
M1 Deposits withagreed matu-rity up to 2years
Deposits re-deemable atnotice up to 3months
M2 Repurchaseagreements
Money mar-ket fundshares / units
Money mar-ket paperand debt se-curities up to2 years
M3
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
1997 321 1,304 1,625 899 1,162 3,686 205 245 130 4,266
1998 323 1,458 1,781 897 1,239 3,917 177 231 144 4,469
1999 351 1,615 1,965 883 1,288 4,136 143 280 143 4,702
2000 348 1,729 2,077 992 1,221 4,290 175 300 136 4,901
2001 240 1,968 2,208 1,089 1,368 4,665 219 398 146 5,427
2002 341 2,083 2,425 1,075 1,459 4,959 226 470 128 5,783
2001 III 310 1,815 2,125 1,071 1,300 4,495 226 381 148 5,250
IV 240 1,968 2,208 1,089 1,368 4,665 219 398 146 5,427
2002 I 254 1,914 2,169 1,089 1,398 4,655 230 431 137 5,453
II 286 1,992 2,278 1,075 1,400 4,753 230 439 133 5,554
III 307 1,984 2,291 1,074 1,411 4,776 238 460 131 5,606
IV 341 2,083 2,425 1,075 1,459 4,959 226 470 128 5,783
2003 I 327 2,067 2,395 1,073 1,513 4,980 223 551 101 5,855
II 351 2,150 2,501 1,061 1,546 5,108 215 571 96 5,990
III 367 2,172 2,539 1,050 1,579 5,168 216 583 91 6,058
2002 Nov. 321 2,021 2,342 1,086 1,429 4,857 230 477 131 5,695
Dec. 341 2,083 2,425 1,075 1,459 4,959 226 470 128 5,783
2003 Jan. 312 2,031 2,343 1,077 1,486 4,905 233 535 107 5,780
Feb. 319 2,029 2,348 1,079 1,501 4,929 234 547 108 5,818
March 327 2,067 2,395 1,073 1,513 4,980 223 551 101 5,855
April 336 2,089 2,425 1,080 1,522 5,027 231 563 125 5,946
May 344 2,115 2,459 1,097 1,530 5,086 231 571 105 5,993
June 351 2,150 2,501 1,061 1,546 5,108 215 571 96 5,990
July 361 2,122 2,484 1,064 1,556 5,104 220 585 90 5,999
Aug. 360 2,145 2,505 1,058 1,574 5,137 222 582 89 6,030
Sep. 367 2,172 2,539 1,050 1,579 5,168 216 583 91 6,058
Oct. 372 2,269 2,641 1,046 1,528 5,215 225 588 101 6,130
Nov. p 380 2,253 2,633 1,046 1,536 5,215 228 590 101 6,135
N.B.: Monetary aggregates comprise monetary liabilities of MFIs and central government (Post Office,Treasury) vis-à-vis non-MFI euro area residents excluding central government.
Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 1999-I, p28.
114 Statistical bulletin of the National Bank of Belgium (2003--IV)
15.2 BELGIAN CONTRIBUTION TO THE MONETARY AGGREGATES OF THE EUROZONE15.2.1 BELGIAN CONTRIBUTION TO THE MONETARY AGGREGATES OF THE EUROZONE (UNTIL
DECEMBER 2001)
(end of period, billions of euro)
Currency incirculation
Overnight de-posits
M1 Deposits withagreed matu-rity up to 2years
Deposits re-deemable atnotice up to 3months
M2 Repurchaseagreements
Money mar-ket fundshares andunits andmoney mar-ket paper
Debt securi-ties up to 2years
M3
(1) (2) (3) = (1) + (2) (4) (5) (6) = (3) + (4) +(5)
(7) (8) (9) (10) = (6) + (7)+ (8) + (9)
1996 11.0 38.8 49.8 44.4 85.4 179.5 1.5 1.9 14.0 197.0
1997 11.1 41.9 53.0 46.5 93.4 193.0 2.2 1.4 12.3 208.9
1998 11.2 48.0 59.2 61.5 99.4 220.1 1.4 1.2 12.4 235.1
1999 12.0 54.0 66.1 63.8 103.8 233.6 1.0 1.0 8.5 244.1
2000 11.9 59.0 70.8 60.7 98.5 230.0 1.1 0.6 14.6 246.3
2001 7.1 62.0 69.1 69.4 105.2 243.7 1.0 1.2 10.0 255.9
1999 IV 12.0 54.0 66.1 63.8 103.8 233.6 1.0 1.0 8.5 244.1
2000 I 11.2 58.7 69.8 63.6 101.5 234.9 1.2 0.8 7.8 244.7
II 11.6 62.8 74.4 68.1 100.2 242.7 1.0 0.6 10.5 254.8
III 11.4 58.7 70.1 68.7 97.7 236.5 1.2 0.6 11.4 249.7
IV 11.9 59.0 70.8 60.7 98.5 230.0 1.1 0.6 14.6 246.3
2001 I 10.9 60.2 71.1 68.9 95.6 235.6 1.1 0.8 11.1 248.6
II 11.2 67.5 78.7 68.8 96.4 243.9 0.9 0.9 11.5 257.2
III 10.1 59.9 70.0 69.6 97.1 236.7 0.9 1.0 11.2 249.8
IV 7.1 62.0 69.1 69.4 105.2 243.7 1.0 1.2 10.0 255.9
2000 Dec. 11.9 59.0 70.8 60.7 98.5 230.0 1.1 0.6 14.6 246.3
2001 Jan. 11.1 61.0 72.1 61.5 97.4 231.0 1.1 0.6 11.8 244.5
Feb. 11.0 59.5 70.5 66.4 96.3 233.2 1.8 0.7 11.5 247.2
March 10.9 60.2 71.1 68.9 95.6 235.6 1.1 0.8 11.1 248.6
April 11.0 59.6 70.6 70.4 95.2 236.2 1.0 0.8 11.2 249.2
May 11.1 64.6 75.7 68.2 96.0 239.9 1.0 0.8 10.9 252.6
June 11.2 67.5 78.7 68.8 96.4 243.9 0.9 0.9 11.5 257.2
July 10.8 62.1 72.9 69.9 96.6 239.4 1.0 0.9 10.3 251.6
Aug. 10.5 58.5 69.0 70.3 96.7 236.0 0.9 1.0 11.1 249.0
Sep. 10.1 59.9 70.0 69.6 97.1 236.7 0.9 1.0 11.2 249.8
Oct. 9.4 58.8 68.2 71.9 98.2 238.3 0.9 1.0 10.3 250.5
Nov. 8.9 62.0 70.9 70.4 100.3 241.6 1.3 1.1 10.6 254.6
Dec. 7.1 62.0 69.1 69.4 105.2 243.7 1.0 1.2 10.0 255.9
N.B.: As mentioned earlier, chapter 15 has been revised. Next to table 15.1 (before 15.1.1) ”Monetary aggregates of the eurozone”, a new table 15.2 ”Belgian contribution to the monetary aggregatesof the eurozone” has been inserted. This table presents the contribution of belgian components to monetary aggregates of the eurozone.
115Statistical bulletin of the National Bank of Belgium (2003--IV)
15.2.2 BELGIAN CONTRIBUTION TO THE MONETARY AGGREGATES OF THE EUROZONE (FROMJANUARY 2002 ONWARDS)
(end of period, billions of euro)
Overnight deposits Deposits withagreed maturity upto 2 years
Deposits redeem-able at notice up to3 months
Repurchaseagreements
Money market fundshares / units
Money market pa-per and debt secu-rities up to 2 years
M3 (excluding thecurrency in circula-tion)
2002 62.9 66.5 118.4 3.6 1.6 9.8 262.8
2002 I 61.9 71.1 107.6 2.6 1.3 10.7 255.1
II 65.9 68.7 108.1 7.2 1.4 9.8 261.1
III 62.8 67.8 108.3 3.0 1.4 10.6 253.9
IV 62.9 66.5 118.4 3.6 1.6 9.8 262.8
2003 I 66.1 61.4 128.6 3.2 1.7 8.2 269.2
II 68.6 61.5 130.9 2.9 1.7 7.5 273.0
III 67.5 58.8 132.0 1.7 1.8 6.3 268.2
2002 November 62.4 70.3 113.4 3.5 1.5 10.9 262.0
December 62.9 66.5 118.4 3.6 1.6 9.8 262.8
2003 January 63.5 63.5 122.6 3.4 1.6 8.5 263.3
February 61.3 62.1 126.3 3.1 1.7 7.9 262.4
March 66.1 61.4 128.6 3.2 1.7 8.2 269.2
April 66.3 63.0 129.3 3.2 1.7 7.4 270.9
May 68.3 63.9 129.5 3.0 1.7 7.7 274.1
June 68.6 61.5 130.9 2.9 1.7 7.5 273.0
July 66.0 58.7 131.5 3.0 1.7 6.4 267.3
August 63.7 60.8 131.7 3.0 1.8 6.1 267.1
September 67.5 58.8 132.0 1.7 1.8 6.3 268.2
October 64.7 62.2 132.7 1.8 1.8 7.0 270.2
November p 66.3 61.7 132.9 1.6 1.8 6.8 271.1
N.B.: From january 2002 onwards, the Belgian contribution to the monetary aggregates of the eurozone excludes currency in circulation
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15.3 FORMATION OF FINANCIAL ASSETS BY INDIVIDUALS
(changes in millions of euro)
Currency and deposits Fixed-interest securities Shares and other equity Mutualfunds sha-
Insurancetechnical re-
Other andstatistical
Grand total
Notes andcoins
Sight depo-sits
Savings de-posits
Other de-posits at upto one year
Deposits atover oneyear
Total Short-termsecurities 2
Long-termsecurities 3
Total Quoted sha-res
Unquotedshares andother equity
Total
Mutualfunds sha-res
Insurancetechnical re-serves
Other andstatisticaladjust-ments 1
Grand total
1994 --723 1,036 11,052 --2,647 948 9,665 --9,636 13,238 3,602 250 807 1,058 2,486 3,789 3,704 24,304
1995 731 --165 9,987 --7,976 1,528 4,106 --4,135 11,007 6,872 --519 1,068 549 52 4,336 4,875 20,789
1996 450 --196 10,719 294 167 11,433 --2,344 5,617 3,273 559 2,030 2,589 3,826 5,474 1,533 28,128
1997 77 1,213 7,881 1,053 271 10,493 --853 --877 --1,730 --221 2,972 2,751 7,137 7,178 2,708 28,538
1998 --106 1,343 4,520 300 --279 5,777 --484 1,501 1,017 6,396 506 6,902 15,924 8,172 --9,433 28,359
1999 1,219 2,556 3,422 --3,240 --238 3,719 --135 5,066 4,932 --2,369 2,476 106 9,683 11,607 --4,274 25,772
2000 --182 2,299 --5,129 11,076 --461 7,603 252 --1,972 --1,721 --2,913 3,472 560 11,233 9,246 --7,000 19,922
2001 --4,569 963 5,554 8,555 226 10,728 575 3,972 4,547 --215 292 78 11,041 13,249 --20,217 19,425
2002 2,408 1,710 11,543 --5,477 --504 9,681 --1,258 --2,266 --3,525 --134 1,082 949 5,971 12,658 --547 25,187
2001 II 326 2,510 376 1,175 --218 4,169 102 --1,594 --1,492 --978 700 --278 251 3,662 --1,716 4,596
III --1,189 --1,936 325 --627 470 --2,957 63 4,026 4,089 1,209 498 1,707 4,277 2,684 --4,535 5,264
IV --2,716 328 7,529 3,476 --34 8,582 --151 2,397 2,246 --548 --458 --1,006 4,891 4,192 --14,013 4,893
2002 I --418 1,215 2,139 --1,454 --148 1,333 --702 2,342 1,640 496 369 865 2,916 1,262 --437 7,579
II 1,102 1,814 825 --3,083 --61 598 --289 563 274 --241 903 662 2,163 3,544 1,120 8,360
III 819 --2,229 56 --81 --239 --1,674 --191 --1,982 --2,173 --2,136 687 --1,449 497 4,575 1,120 897
IV 905 910 8,523 --859 --55 9,424 --76 --3,189 --3,266 1,748 --877 871 395 3,277 --2,351 8,350
2003 I 272 1,819 8,340 --834 --187 9,410 --32 --4,217 --4,249 414 --889 --475 --1,974 5,524 --951 7,285
II --272 902 2,649 226 --205 3,300 --90 --5,359 --5,450 78 29 107 2,986 4,597 --653 4,888
Source: NBB
N.B.: The individuals sector encompasses the households and non-profit institutions serving households.
1 This item encompasses, insofar as it has been possible to record them, the financial derivatives and various claims on the financialinstitutions, among which the interests accrued and not yet due, as well as the part attributed to individuals of the errors and omis-sions of the estimated Belgium’s balance of payments.
2 Securities the initial term of which is up to one year.3 Securities the initial term of which exceeds one year.
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15.4 FINANCIAL ASSETS HELD BY INDIVIDUALS
(outstanding amounts at the end of period in millions of euro)
Currency and deposits Fixed-interest securities Shares and other equity Mutualfunds sha-
Insurancetechnical re-
Other andstatistical
Grand total
Notes andcoins
Sight depo-sits
Savings de-posits
Other de-posits at upto one year
Deposits atover oneyear
Total Short-termsecurities 2
Long-termsecurities 3
Total Quoted sha-res
Unquotedshares andother equity
Total
Mutualfunds sha-res
Insurancetechnical re-serves
Other andstatisticaladjust-ments 1
Grand total
1993 9,953 15,449 47,557 60,015 3,023 135,998 19,076 125,552 144,628 29,145 63,462 92,607 44,717 41,709 24,985 484,644
1994 9,230 16,465 58,609 56,801 3,960 145,065 9,440 139,339 148,780 25,328 64,784 90,112 42,374 45,071 29,724 501,125
1995 9,962 16,362 68,596 48,554 5,484 148,957 5,306 146,095 151,400 25,808 69,775 95,583 44,698 50,998 31,605 523,242
1996 10,411 16,187 79,315 49,464 5,652 161,029 2,962 152,904 155,866 30,299 74,373 104,672 51,815 57,299 32,148 562,828
1997 10,488 17,436 87,196 52,176 5,925 173,222 2,109 153,839 155,948 37,098 86,437 123,535 64,830 65,949 31,656 615,140
1998 10,381 18,786 91,690 48,119 5,624 174,600 1,675 152,550 154,225 65,307 109,270 174,578 87,370 76,844 16,146 683,763
1999 11,601 21,433 95,112 46,689 5,389 180,224 1,540 160,957 162,497 79,280 102,153 181,433 104,591 91,276 19,818 739,840
2000 11,418 23,761 89,984 58,782 4,928 188,875 1,792 159,905 161,697 72,953 92,116 165,069 112,226 100,017 13,737 741,621
2001 6,849 24,752 94,868 64,108 5,154 195,732 2,367 164,581 166,949 54,814 81,411 136,225 114,141 109,802 --146 722,702
2002 9,258 26,415 107,411 55,130 4,650 202,864 1,109 159,589 160,698 29,696 57,669 87,366 100,853 115,027 --851 665,956
2001 II 10,755 26,374 87,683 66,379 4,719 195,910 2,455 158,593 161,048 62,934 96,362 159,296 110,816 104,725 12,473 744,268
III 9,566 24,406 87,339 64,215 5,188 190,714 2,518 161,300 163,818 50,028 97,226 147,254 103,622 103,953 9,756 719,116
IV 6,849 24,752 94,868 64,108 5,154 195,732 2,367 164,581 166,949 54,814 81,411 136,225 114,141 109,802 --146 722,702
2002 I 6,431 26,005 97,006 62,808 5,006 197,257 1,665 167,226 168,892 57,194 73,837 131,031 117,055 110,941 --1,018 724,158
II 7,534 27,758 97,832 56,968 4,945 195,036 1,376 164,299 165,675 45,416 69,114 114,530 107,647 111,269 151 694,308
III 8,352 25,534 97,888 57,177 4,706 193,658 1,185 163,321 164,506 25,875 68,537 94,412 99,596 110,667 1,741 664,579
IV 9,258 26,415 107,411 55,130 4,650 202,864 1,109 159,589 160,698 29,696 57,669 87,366 100,853 115,027 --851 665,956
2003 I 9,530 28,217 115,751 53,387 4,464 211,348 1,077 152,552 153,629 25,149 58,405 83,554 93,818 117,794 --1,602 658,541
II 9,258 29,101 118,399 52,343 4,259 213,360 986 145,940 146,927 30,970 52,085 83,055 100,594 124,949 --5,020 663,865
Source: NBB
N.B.: The individuals sector encompasses the households and non-profit institutions serving households.
1 This item encompasses, insofar as it has been possible to record them, the financial derivatives and various claims on the financialinstitutions, among which the interests accrued and not yet due, as well as the part attributed to individuals of the cumulative flowsof errors and omissions of the estimated Belgium’s balance of payments.
2 Securities the initial term of which is up to one year.3 Securities the initial term of which exceeds one year.
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15.5 FORMATION OF FINANCIAL ASSETS BY NON-FINANCIAL CORPORATIONS
(changes in millions of euro)
Currency and deposits Fixed-interest securities Shares and other equity Insurancetechnical re-
Loans Trade credits Other andstatistical ad-
Grand total
Notes, coinsand sight de-posits
Other depos-its at up toone year
Deposits atover oneyear
Total Short-termsecurities 2
Long-termsecurities 3
Total Quoted sha-res
Unquotedshares andother equity
Total
Insurancetechnical re-serves
Loans Trade credits Other andstatistical ad-justments 1
Grand total
1994 --405 670 56 320 260 --211 49 --100 --949 --1,049 215 --453 --153 7,501 6,431
1995 2,110 2,069 61 4,239 221 --333 --112 --1,399 1,479 80 118 5,407 --103 4,870 14,499
1996 2,016 3,971 320 6,308 1,146 135 1,281 --580 1,349 769 263 256 366 5,066 14,308
1997 1,658 165 56 1,878 465 1,526 1,991 --1,555 --47 --1,602 218 2,198 1 11,302 15,987
1998 3,437 5,086 134 8,657 2,212 1,067 3,280 1,620 3,051 4,671 230 9,568 --350 --9,273 16,783
1999 1,676 9,274 380 11,330 --1,422 507 --915 --3,334 2,447 --887 190 10,728 682 2,571 23,699
2000 22 --4,761 44 --4,695 356 --949 --593 11,306 4,759 16,065 64 26,904 1,290 --5,864 33,172
2001 1,526 660 --88 2,098 257 3,205 3,461 2,087 --3,768 --1,681 481 17,814 --430 --142 21,601
2002 --537 5,570 --773 4,261 --811 1,127 316 --1,400 2,258 858 --178 8,131 --941 3,945 16,392
2001 II 2,288 --479 677 2,485 634 --764 --130 2,489 1,999 4,488 --36 6,115 19 --3,207 9,733
III --2,762 --621 --977 --4,360 --940 909 --31 --1,413 --1,367 --2,780 67 4,639 --898 5,986 2,622
IV 1,231 --615 --20 596 350 1,771 2,121 --82 --2,022 --2,104 461 2,697 --206 1,127 4,692
2002 I --883 --2,365 --591 --3,839 --890 609 --281 --276 714 437 --551 1,756 285 5,952 3,759
II 1,584 23 345 1,952 440 --66 374 227 2,294 2,521 219 --239 --609 --676 3,543
III 238 1,915 --184 1,969 543 --528 14 --439 2,253 1,814 6 2,671 1,168 --257 7,384
IV --1,475 5,997 --343 4,179 --904 1,113 209 --911 --3,004 --3,915 148 3,943 --1,784 --1,074 1,705
2003 I --358 1,531 390 1,563 244 --813 --569 90 --3,637 --3,547 442 7,877 420 --4,710 1,476
II 1,366 1,637 --171 2,832 --995 599 --395 1,378 --495 883 --10 6,809 --234 --6,730 3,154
Source: NBB
1 This item encompasses, insofar as it has been possible to record them, the financial derivatives and various claims on the financialinstitutions, among which the interests accrued and not yet due, as well as the part attributed to companies of the errors and omis-sions of the estimated Belgium’s balance of payments.
2 Securities the initial term of which is up to one year.3 Securities the initial term of which exceeds one year.
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15.6 FINANCIAL ASSETS HELD BY NON-FINANCIAL CORPORATIONS
(outstanding amounts at the end of period in millions of euro)
Currency and deposits Fixed-interest securities Shares and other equity Insurancetechnical re-
Loans Trade credits Other andstatistical ad-
Grand total
Notes, coinsand sight de-posits
Other depos-its at up toone year
Deposits atover oneyear
Total Short-termsecurities 2
Long-termsecurities 3
Total Quoted sha-res
Unquotedshares andother equity
Total
Insurancetechnical re-serves
Loans Trade credits Other andstatistical ad-justments 1
Grand total
1993 12,463 22,778 335 35,577 1,377 4,312 5,689 42,385 66,362 108,748 3,901 16,952 3,449 32,966 207,281
1994 11,917 23,228 390 35,536 1,637 4,104 5,741 40,138 75,578 115,717 4,116 16,055 3,296 39,070 219,529
1995 13,804 24,754 452 39,010 1,858 4,442 6,300 44,938 84,790 129,728 4,234 21,141 3,893 40,214 244,520
1996 15,930 28,889 768 45,588 3,004 4,570 7,574 59,750 92,414 152,164 4,497 21,735 4,368 34,033 269,959
1997 17,748 29,275 825 47,849 3,469 6,090 9,559 79,866 108,540 188,406 4,715 24,171 4,446 32,642 311,788
1998 19,192 24,826 686 44,704 5,204 6,904 12,109 113,790 135,685 249,475 4,945 34,108 3,986 --28,822 320,506
1999 21,085 34,075 1,109 56,270 3,793 7,396 11,189 114,729 141,085 255,814 5,136 45,392 4,678 --4,277 374,202
2000 21,450 29,714 1,170 52,334 4,149 6,445 10,595 124,891 202,785 327,677 5,200 72,320 5,969 --7,626 466,469
2001 23,184 35,945 1,452 60,581 4,764 9,398 14,162 107,697 223,808 331,504 5,681 90,616 5,535 --4,567 503,512
2002 22,289 40,455 885 63,629 3,953 10,597 14,550 63,125 260,004 323,129 5,503 97,033 4,594 9,150 517,588
2001 II 24,813 32,001 2,293 59,108 5,355 6,701 12,056 115,617 212,947 328,564 5,153 83,733 6,643 --8,802 486,455
III 21,946 32,319 1,700 55,965 4,414 7,623 12,038 96,964 210,091 307,055 5,219 87,407 5,744 --1,724 471,704
IV 23,184 35,945 1,452 60,581 4,764 9,398 14,162 107,697 223,808 331,504 5,681 90,616 5,535 --4,567 503,512
2002 I 22,304 33,711 981 56,995 3,874 10,009 13,883 90,083 231,950 322,033 5,130 92,566 5,820 3,538 499,966
II 23,769 34,023 1,367 59,159 4,314 9,996 14,310 76,674 241,140 317,814 5,350 91,029 5,211 2,633 495,507
III 24,007 35,847 1,189 61,043 4,857 9,449 14,306 62,409 250,347 312,757 5,355 93,790 6,378 13,811 507,440
IV 22,289 40,455 885 63,629 3,953 10,597 14,550 63,125 260,004 323,129 5,503 97,033 4,594 9,150 517,588
2003 I 21,845 42,010 1,313 65,169 4,193 9,807 14,000 57,106 264,686 321,792 5,945 105,048 5,014 9,831 526,798
II 23,120 43,095 1,196 67,411 3,198 10,416 13,615 67,587 263,070 330,657 5,935 111,075 4,780 --3,926 529,546
Source: NBB
1 This item encompasses, insofar as it has been possible to record them, the financial derivatives and various claims on the financialinstitutions, among which the interests accrued and not yet due, as well as the part attributed to companies of the cumulative flowsof errors and omissions of the estimated Belgium’s balance of payments.
2 Securities the initial term of which is up to one year.3 Securities the initial term of which exceeds one year.
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16 CHAPTER 16: LIABILITIES OF HOUSEHOLDS AND NON-FINANCIAL COMPANIES16.1 SUMMARY TABLES16.1.1 NEW FINANCIAL LIABILITIES OF INDIVIDUALS
(changes in millions of euro)
Loans at up to one year Loans at over one year Miscellaneous 1 Grand totalLoans at up to one year
Mortgage loans Consumer credits Other Total
Miscellaneous Grand total
1994 97 3,523 84 931 4,537 --527 4,107
1995 --245 2,115 --102 154 2,168 500 2,422
1996 362 2,916 414 689 4,019 784 5,165
1997 --35 3,636 593 1,372 5,601 1,599 7,165
1998 573 2,874 1,258 1,174 5,305 58 5,936
1999 1,585 5,532 139 --2,763 2,907 702 5,195
2000 --698 2,632 328 263 3,223 --416 2,109
2001 --1,224 621 248 --162 707 --1,449 --1,966
2002 241 4,415 59 --944 3,530 --534 3,237
2001 II 112 1,028 166 257 1,451 --5 1,557
III --941 --437 --177 --826 --1,440 --1,576 --3,957
IV 343 --51 71 --260 --240 553 656
2002 I --246 565 --284 --195 86 149 --11
II 335 1,716 91 141 1,948 1,100 3,383
III --10 786 --84 --646 56 --2,195 --2,149
IV 163 1,347 336 --244 1,440 411 2,014
2003 I --694 1,691 --49 25 1,668 600 1,574
II 615 1,278 --129 74 1,224 768 2,606
Source: NBB
N.B.: The individuals sector encompasses the households and non-profit institutions serving households.
1 This item encompasses the other accounts payable according to ESA 95.
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16.1.2 FINANCIAL LIABILITIES OF INDIVIDUALS
(outstanding amounts at the end of period in millions of euro)
Loans at up to one year Loans at over one year Miscellaneous 1 Grand totalLoans at up to one year
Mortgage loans Consumer credits Other Total
Miscellaneous Grand total
1993 6,165 43,307 7,600 12,736 63,644 11,080 80,889
1994 5,880 46,827 7,313 11,927 66,067 10,516 82,463
1995 5,605 48,938 7,211 13,151 69,300 11,017 85,922
1996 5,964 51,857 7,625 13,825 73,307 11,802 91,073
1997 5,932 55,488 8,223 15,197 78,909 13,400 98,241
1998 6,726 61,106 8,404 15,720 85,229 7,732 99,687
1999 8,354 66,637 8,543 12,964 88,145 8,438 104,937
2000 7,676 70,991 8,871 11,514 91,375 8,022 107,073
2001 6,378 70,420 8,489 12,382 91,290 8,374 106,042
2002 5,963 75,334 8,548 11,717 95,599 7,841 109,403
2001 II 7,064 71,477 8,751 13,471 93,699 7,597 108,360
III 6,097 70,470 8,418 12,641 91,530 7,821 105,448
IV 6,378 70,420 8,489 12,382 91,290 8,374 106,042
2002 I 5,686 70,985 8,205 12,187 91,376 8,524 105,586
II 5,814 72,701 8,296 12,327 93,324 9,624 108,762
III 5,805 73,487 8,212 11,681 93,380 7,429 106,615
IV 5,963 75,334 8,548 11,717 95,599 7,841 109,403
2003 I 4,884 77,851 8,879 10,915 97,645 8,441 110,970
II 5,497 79,129 8,750 10,988 98,867 9,209 113,573
Source: NBB
N.B.: The individuals sector encompasses the households and non-profit institutions serving households.
1 This item encompasses the other accounts payable according to ESA 95.
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16.1.3 NEW FINANCIAL LIABILITIES OF NON-FINANCIAL CORPORATIONS
(changes in millions of euro)
At up to one year At over one year Miscellaneous 1 Grand total
Loans Fixed-interest secu-rities
Total Loans Quoted shares Unquoted sharesand other equity
Fixed-interest secu-rities
Total
Miscellaneous Grand total
1994 441 805 1,246 733 573 5,377 --1,205 5,478 226 6,951
1995 2,916 --140 2,775 3,853 102 5,812 1,330 11,098 260 14,134
1996 3,421 253 3,674 5,287 1,065 3,683 2,043 12,078 2,715 18,467
1997 1,636 292 1,928 7,789 1,155 7,063 222 16,230 2,264 20,421
1998 5,573 706 6,279 6,696 1,244 8,846 1,271 18,057 1,050 25,386
1999 7,152 1,408 8,560 6,280 2,888 9,236 1,201 19,605 2,673 30,837
2000 577 3,151 3,728 12,240 4,954 19,896 --700 36,390 779 40,898
2001 --1,081 1,565 484 --419 2,257 23,978 5,649 31,465 1,134 33,084
2002 --705 2,228 1,523 11,939 144 8,543 1,941 22,567 1,528 25,618
2001 II --245 84 --162 6,375 2,087 3,932 --12 12,383 1,038 13,259
III --1,361 1,242 --119 --11,699 15 15,891 3,528 7,734 --369 7,246
IV --988 508 --479 1,453 138 3,831 2,098 7,520 698 7,739
2002 I --535 --98 --633 1,580 21 2,990 779 5,371 980 5,717
II 661 --164 497 3,093 31 1,258 909 5,291 1,357 7,146
III --1,028 1,106 79 3,974 54 2,868 76 6,972 --1,105 5,946
IV 197 1,383 1,580 3,291 39 1,428 176 4,933 296 6,809
2003 I 587 94 681 --2,510 49 1,276 682 --502 771 949
II 1,086 11 1,097 2,083 251 --511 421 2,244 560 3,901
Source: NBB
1 This item encompasses the derivatives and the other accounts payable according to ESA 95.
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16.1.4 FINANCIAL LIABILITIES OF NON-FINANCIAL CORPORATIONS
(outstanding amounts at the end of period in millions of euro)
At up to one year At over one year Miscellaneous 1 Grand total
Loans Fixed-interest secu-rities
Total Loans Quoted shares Unquoted sharesand other equity
Fixed-interest secu-rities
Total
Miscellaneous Grand total
1993 35,082 787 35,869 66,132 51,709 144,691 8,796 271,328 35,251 342,449
1994 35,258 1,593 36,850 67,756 50,929 158,329 7,627 284,641 34,164 355,656
1995 37,733 1,452 39,185 70,220 54,884 174,295 8,931 308,329 36,914 384,428
1996 41,529 1,706 43,234 76,268 67,619 186,197 10,948 341,032 41,347 425,613
1997 44,089 1,999 46,087 85,047 85,375 208,687 11,126 390,234 50,624 486,946
1998 48,642 1,741 50,384 89,896 127,352 253,678 9,482 480,408 36,474 567,266
1999 57,148 3,137 60,285 97,410 109,429 291,754 10,860 509,452 32,775 602,512
2000 58,407 6,317 64,724 110,234 112,671 360,042 10,230 593,178 31,803 689,705
2001 58,161 7,971 66,133 110,180 104,931 403,336 15,941 634,388 28,144 728,665
2002 55,661 9,732 65,392 118,611 66,056 424,067 17,845 626,580 25,510 717,481
2001 II 60,854 6,283 67,137 120,411 103,737 383,690 10,385 618,224 30,891 716,252
III 58,516 7,375 65,892 108,340 95,820 401,029 13,816 619,006 28,024 712,921
IV 58,161 7,971 66,133 110,180 104,931 403,336 15,941 634,388 28,144 728,665
2002 I 58,210 7,905 66,115 111,818 89,495 406,560 16,729 624,603 28,661 719,379
II 57,130 7,378 64,508 112,987 80,229 410,007 17,599 620,821 29,266 714,595
III 56,278 8,516 64,794 117,120 65,124 417,695 17,673 617,611 24,880 707,285
IV 55,661 9,732 65,392 118,611 66,056 424,067 17,845 626,580 25,510 717,481
2003 I 55,655 9,719 65,374 115,536 56,891 436,281 18,522 627,229 24,820 717,422
II 55,998 9,526 65,524 117,114 64,024 428,949 18,937 629,023 27,045 721,593
Source: NBB
1 This item encompasses the derivatives and the other accounts payable according to ESA 95.
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16.2 CONSUMER CREDIT: HIRE-PURCHASE, INSTALMENT-PAYMENT LOANS, LEASING AND OPENING OF CREDITS16.2.1 CONSUMER CREDIT: GENERAL RESULTS
Number of contracts at end of half-year (thousands) 1 Outstanding amounts of credit at end of half-year (millions of euro) 1 Credit granted during the half-year (millions of euro)
Hire-purcha-se
Instalment-paymentloans 2
Leasing Opening ofcredit
Total Hire-purcha-se
Instalment-paymentloans 2
Leasing Opening ofcredit
Total Hire-purcha-se
Instalment-paymentloans
Leasing Opening ofcredit
Total
(1) (2) (3) (4) (5) = (1) + (2) +(3) + (4)
(6) (7) (8) (9) (10) = (6) + (7)+ (8) + (9)
(11) (12) (13) (14) (15) = (11) +(12) + (13) +
(14)
1991 I 1,719 1,046 2,765 4,641 5,156 9,797 1,324 2,467 3,790
II 1,748 1,039 2,787 4,608 4,970 9,579 1,168 1,544 2,712
1992 I 1,806 1,088 2,894 4,884 5,773 10,657 1,537 2,682 4,219
II 1,769 1,075 2,844 4,621 5,464 10,084 1,150 1,589 2,739
1993 I 1,508 1,082 2,590 4,611 6,029 10,640 1,386 2,457 3,842
II 1,485 1,015 2,500 4,474 5,592 10,067 1,153 1,547 2,700
1994 I 725 1,235 65 2,130 4,155 1,336 6,284 62 1,542 9,224 439 1,899 25 424 2,786
II 564 1,162 62 1,953 3,741 1,200 6,178 42 1,557 8,976 302 1,423 20 456 2,201
1995 I 543 1,151 63 1,950 3,707 1,232 6,554 22 1,579 9,388 384 1,584 7 540 2,516
II 472 1,206 56 2,039 3,773 840 6,708 15 1,758 9,321 240 1,569 7 555 2,372
1996 I 456 1,212 51 2,099 3,818 897 7,001 15 1,728 9,641 305 1,916 7 466 2,695
II 460 1,210 55 2,161 3,886 860 6,730 12 1,929 9,532 223 1,629 10 508 2,370
1997 I 465 1,213 48 2,217 3,943 892 7,256 12 1,792 9,953 300 1,909 10 426 2,645
II 472 1,224 56 2,232 3,984 870 7,281 15 1,983 10,149 248 1,758 12 506 2,524
1998 I 483 1,264 58 2,389 4,194 964 7,781 15 1,983 10,744 342 2,035 15 493 2,885
II 475 1,289 62 2,499 4,325 964 8,076 20 2,119 11,180 288 1,948 17 518 2,771
1999 I 473 1,293 66 2,552 4,384 1,051 8,468 20 2,122 11,661 374 2,318 17 488 3,198
II 472 1,316 72 2,279 4,139 1,061 8,634 22 2,241 11,958 335 2,115 17 538 3,004
2000 I 488 1,349 70 2,365 4,272 1,259 9,103 22 2,281 12,665 478 2,457 17 493 3,446
II 492 1,355 40 2,449 4,336 1,120 9,043 32 2,543 12,739 280 2,040 10 538 2,868
2001 I 492 1,376 20 2,487 4,375 1,155 9,512 40 2,467 13,173 357 2,372 12 555 3,297
II 481 1,389 15 2,584 4,469 1,146 9,521 42 2,522 13,231 320 2,129 10 498 2,957
2002 I 486 1,380 14 2,793 4,673 1,273 9,709 43 2,431 13,456 463 2,344 11 538 3,356
II 475 1,366 14 2,905 4,760 1,317 9,536 43 2,609 13,505 278 2,089 9 596 2,972
2003 I 455 1,351 14 2,988 4,808 1,333 9,768 42 2,571 13,714 431 2,465 7 551 3,454
1 Until 1993, excluding payments; from 1994 onwards, including the claims which are recorded under the heading ”doubtful debtors”with creditors, but excluding transfers to credit insurance companies.
2 Until December 1993 inclusive, only personal loans are included.
Bibliographical reference: Bulletin de la Banque Nationale de Belgique, LXVIth year, number 9, September 1991.
125Statistical bulletin of the National Bank of Belgium (2003--IV)
16.2.2 CONSUMER CREDIT: CONTRACTS NOT HONOURED
Number of persons re-corded (units)
Number of contracts re-corded (units)
Contracts recorded andnot regularised (units)
Arrears or amount due oncontracts recorded andnot regularised (thou-sands of euro) 1
P.N.: Index of number ofconsultations (year 1993= 100) 2
1993 305,750 355,778 277,104 701,117 100
1994 322,303 391,590 309,052 785,004 111
1995 322,091 395,889 311,030 881,336 117
1996 327,596 412,086 329,405 967,454 123
1997 329,418 423,973 347,934 1,056,448 136
1998 333,754 438,569 363,375 1,118,025 143
1999 341,054 456,616 386,775 1,189,127 169
2000 350,479 476,326 401,262 1,271,779 183
2001 360,535 497,587 423,672 1,244,815 177
2002 363,769 506,500 428,396 1,248,116 168
2001 I 353,288 482,225 403,343 1,287,375 190
II 357,463 490,477 411,988 1,226,678 179
III 359,784 495,315 416,290 1,231,900 168
IV 360,535 497,587 423,672 1,244,815 169
2002 I 362,350 500,954 423,811 1,249,177 186
II 364,171 504,352 427,194 1,252,227 170
III 364,231 506,289 427,621 1,272,605 159
IV 363,769 506,500 428,396 1,248,116 158
2003 I 366,365 511,908 437,873 1,274,302 178
2002 May 364,504 504,450 427,921 1,262,998 175
June 364,171 504,352 427,194 1,252,227 159
July 363,927 504,622 427,233 1,284,142 154
August 365,147 506,730 427,830 1,277,790 147
September 364,231 506,289 427,621 1,272,605 177
October 361,918 502,953 427,240 1,271,959 172
November 363,006 505,173 428,668 1,259,878 164
December 363,769 506,500 428,396 1,248,116 138
2003 January 364,323 507,766 429,948 1,252,086 174
February 364,981 509,248 436,464 1,267,664 178
March 366,365 511,908 437,873 1,274,302 183
April 366,125 511,724 437,188 1,277,592 179
May 361,923 3 506,980 3 435,178 3 1,270,390 3 181 3
Source: CCCO (NBB)
1 For contracts not due, the amount is that of arrears; for contracts due, the amount is theamount due.
2 Daily average of the number of consultations during working days, excluding Saturday.This daily average is calculated on the basis of a typical month of 22 working days.
3 Due to changes resulting from the coming into operation of the positive Credit Central, thestatistical series with regard to not honoured contracts are in preparation.
Bibliographical reference: Bulletin de la Banque Nationale de Belgique, LXIXth year, num-ber 9, September 1994.
126 Statistical bulletin of the National Bank of Belgium (2003--IV)
16.3 MORTGAGE CREDIT16.3.1 MORTGAGE CREDIT: APPLICATIONS SUBMITTED
Number of applications (thousands) Amount of applications (millions of euro)
Purchase Building Conver-sion
Purchaseand con-version
Total Otherreal-es-tate pur-pose
Refinan-cing ofan exist-ing credit
Purchase Building Conver-sion
Purchaseand con-version
Total Otherreal-es-tate pur-pose
Refinan-cing ofan exist-ing credit
(1) (2) (3) (4) (5) = (1) +(2) + (3) +
(4)
(6) (7) (8) (9) (10) (11) (12) = (8) +(9) + (10) +
(11)
(13) (14)
1993 74.7 29.2 17.3 11.0 132.2 4,455 2,055 647 706 7,863
1994 78.9 35.2 18.7 18.0 150.8 4,881 2,553 647 1,160 9,241
1995 66.7 22.7 14.2 13.3 116.9 10.2 9.5 3,922 1,549 439 860 6,770 441 538
1996 76.2 37.9 20.6 15.8 150.5 16.5 38.9 4,871 2,784 679 1,111 9,445 885 2,419
1997 80.1 32.8 24.3 16.9 154.1 25.1 70.5 5,473 2,467 801 1,252 9,993 1,644 4,405
1998 82.3 28.4 25.7 18.1 154.5 24.5 65.0 5,897 2,251 870 1,430 10,449 1,577 3,904
1999 91.9 37.0 33.5 19.4 181.8 29.0 93.4 7,075 3,104 1,141 1,619 12,939 1,963 5,825
2000 87.2 26.6 21.8 17.1 152.7 14.5 14.2 6,870 2,319 737 1,441 11,367 952 911
2001 86.3 26.1 23.0 15.0 150.4 13.4 13.8 7,366 2,419 825 1,467 12,077 880 1,032
2002 96.5 27.5 26.3 17.4 167.7 12.3 14.7 8,752 2,653 979 1,765 14,149 832 1,155
2001 III 20.1 5.3 5.1 3.2 33.7 3.1 2.8 1,770 494 181 311 2,756 207 209
IV 20.9 6.4 5.5 3.8 36.6 3.2 3.7 1,818 606 200 401 3,025 209 305
2002 I 24.1 8.0 6.7 4.5 43.3 3.4 3.7 2,099 759 256 455 3,569 242 289
II 24.4 6.8 6.9 4.4 42.5 2.9 2.9 2,206 644 253 440 3,543 187 229
III 23.3 6.0 6.4 4.1 39.8 2.9 3.3 2,138 585 229 414 3,366 194 255
IV 24.7 6.7 6.3 4.4 42.1 3.1 4.8 2,309 665 241 456 3,671 209 382
2003 I 27.3 9.5 9.6 5.0 51.4 3.9 12.0 2,608 947 370 528 4,453 271 1,015
II 28.4 9.4 11.1 5.2 54.1 4.4 16.5 2,824 972 422 577 4,795 328 1,453
III p 29.2 9.5 11.4 5.0 55.1 5.1 21.6 2,955 1,016 439 576 4,986 360 1,894
2002 Nov. 7.9 2.1 2.0 1.4 13.4 1.0 1.6 741 204 76 147 1,168 69 122
Dec. 7.2 1.9 1.8 1.3 12.2 0.9 1.4 687 189 71 139 1,086 61 111
2003 Jan. 8.3 2.4 2.2 1.5 14.4 1.1 1.8 784 240 83 155 1,262 74 156
Feb. 8.1 2.4 2.7 1.6 14.8 1.2 2.6 761 243 107 171 1,282 84 219
March 10.9 4.7 4.7 1.9 22.2 1.6 7.6 1,063 464 180 202 1,909 113 640
April 9.5 3.7 4.2 1.8 19.2 1.6 7.1 947 378 158 195 1,678 119 635
May 9.1 2.9 3.6 1.7 17.3 1.4 4.6 887 301 136 189 1,513 101 408
June 9.8 2.8 3.3 1.7 17.6 1.4 4.8 990 293 128 193 1,604 108 410
July 10.4 3.0 3.8 1.9 19.1 1.7 8.0 1,069 319 146 213 1,747 139 709
Aug. 8.8 3.1 3.6 1.4 16.9 1.7 7.2 888 325 138 165 1,516 103 630
Sep. p 10.0 3.4 4.0 1.7 19.1 1.7 6.4 998 372 155 198 1,723 118 555
Oct. p 10.6 3.0 3.5 1.8 18.9 1.8 6.7 1,079 337 139 205 1,760 132 498
Nov. p 7.7 1.9 2.3 1.5 13.4 1.2 3.9 790 204 89 180 1,263 83 290
N.B.: According to a survey conducted among credit institutions, insurance companies and mortgage companies.The data indicate a trend and do not reflect all applications for mortgage credit or the outstanding amount of these loans. From 1995 onwards the concept of ”mortgage credit” refers to the Lawof 4th August 1992 concerning mortgage credit , and excludes all mortgage credit contracted for commercial purposes. Two new items are therefore added in order to cover the entire market.
Bibliographical reference: Bulletin de la Banque Nationale de Belgique, LXIXth year, number 9, September 1994.
127Statistical bulletin of the National Bank of Belgium (2003--IV)
16.3.2 MORTGAGE CREDIT: MORTGAGE CONTRACTS DRAWN UP
Number (thousands) Amount (millions of euro)
Purchase Building Conver-sion
Purchaseand con-version
Total Otherreal-es-tate pur-pose
Refinan-cing ofan exist-ing credit
Purchase Building Conver-sion
Purchaseand con-version
Total Otherreal-es-tate pur-pose
Refinan-cing ofan exist-ing credit
(1) (2) (3) (4) (5) = (1) +(2) + (3) +
(4)
(6) (7) (8) (9) (10) (11) (12) = (8) +(9) + (10) +
(11)
(13) (14)
1995 53.6 18.3 11.3 11.3 94.5 5.7 5.6 2,980 1,180 347 664 5,171 231 288
1996 64.4 33.3 17.7 14.1 129.5 10.1 30.0 3,956 2,246 555 927 7,685 511 1,770
1997 70.6 31.6 21.2 16.3 139.7 13.5 69.8 4,512 2,179 645 1,098 8,433 729 4,251
1998 69.1 25.8 23.2 15.6 133.7 15.6 54.1 4,616 1,874 736 1,128 8,354 900 3,086
1999 78.3 34.0 32.1 16.8 161.2 23.0 91.3 5,625 2,621 1,036 1,310 10,592 1,527 5,503
2000 70.6 22.2 18.7 13.8 125.3 7.8 10.4 5,109 1,724 579 1,073 8,485 411 617
2001 68.0 20.6 18.9 12.3 119.8 6.6 9.5 5,313 1,695 599 1,049 8,656 361 605
2002 76.7 23.0 22.0 13.7 135.4 7.3 10.5 6,414 2,053 760 1,270 10,497 438 753
2001 III 17.8 5.6 4.8 3.1 31.3 1.7 2.2 1,409 460 157 264 2,290 85 143
IV 17.0 4.9 4.7 3.1 29.7 1.7 2.7 1,373 433 146 279 2,231 96 173
2002 I 17.0 5.3 4.4 3.1 29.8 1.8 2.4 1,386 459 151 284 2,280 111 179
II 20.7 7.1 6.4 3.7 37.9 1.8 2.8 1,711 638 221 345 2,915 101 200
III 19.0 5.3 5.5 3.3 33.1 1.6 2.3 1,615 484 193 305 2,597 100 157
IV 20.0 5.3 5.7 3.6 34.6 2.1 3.0 1,702 472 195 336 2,705 126 217
2003 I 18.3 5.1 5.4 3.1 31.9 1.8 4.5 1,593 461 186 304 2,544 110 335
II 22.0 8.0 9.6 4.2 43.8 2.3 12.3 1,975 736 334 385 3,430 154 982
III p 22.4 7.4 9.2 4.2 43.2 2.4 14.2 2,118 722 324 410 3,574 158 1,166
2002 Nov. 5.9 1.5 1.7 1.1 10.2 0.6 0.8 499 138 58 100 795 39 55
Dec. 7.3 2.0 1.9 1.3 12.5 0.8 1.2 615 179 68 125 987 47 93
2003 Jan. 6.0 1.7 1.5 1.0 10.2 0.6 1.0 519 151 52 92 814 34 82
Feb. 6.3 1.7 1.7 1.1 10.8 0.6 1.3 547 149 60 109 865 39 96
March 6.0 1.7 2.2 1.0 10.9 0.6 2.2 527 161 74 103 865 37 157
April 6.6 2.2 2.8 1.3 12.9 0.7 3.6 582 200 92 120 994 47 259
May 7.0 2.7 3.3 1.3 14.3 0.7 4.0 621 250 113 121 1,105 48 315
June 8.4 3.1 3.5 1.6 16.6 0.9 4.7 772 286 129 144 1,331 59 408
July 7.7 2.4 3.0 1.5 14.6 0.8 4.6 728 224 103 145 1,200 55 384
Aug. 6.6 2.1 2.8 1.2 12.7 0.7 4.2 632 208 98 117 1,055 48 336
Sep. p 8.1 2.9 3.4 1.5 15.9 0.9 5.4 758 290 123 148 1,319 55 446
Oct. p 8.1 2.8 3.5 1.4 15.8 0.9 5.8 770 282 123 144 1,319 57 483
Nov. p 6.8 2.4 2.7 1.2 13.1 0.8 5.1 656 239 101 113 1,109 51 429
N.B.: According to a survey conducted among credit institutions, insurance companies and mortgage companies. The concept of ”mortgage credit” refers to the Law of 4th August 1992 concerningmortgage credit, and excludes all mortgage credit for commercial purposes. In order to cover the entire market, and for purposes of comparison, the items of Table 16.3.1 are maintained.
Bibliographical reference: Bulletin statistique de la Banque Nationale de Belgique, 1996-I, p. 27-30.
128 Statistical bulletin of the National Bank of Belgium (2003--IV)
16.3.3 MORTGAGE CREDIT: MORTGAGE REGISTRATIONS
Mortgage registra-tions 1
1993 979
1994 1,133
1995 781
1996 1,108
1997 1,296
1998 1,182
1999 1,517
2000 1,039
2001 1,093
2002 1,331
2001 III 1,200
IV 1,148
2002 I 1,113
II 1,342
III 1,452
IV 1,419
2003 I 1,254
II 1,476
III 1,774
Source: BS/MB Berekeningen: NBB
1 Amounts estimated according to the registration fees received,including renewals after 15 years, which amount to about 1.5p.c. of the total, but not including statutory mortgages.
129Statistical bulletin of the National Bank of Belgium (2003--IV)
16.3.4 MORTGAGE CREDIT: CONTRACTS NOT HONOURED
Mortgage credit: contracts not honoured
Number of persons recorded(units)
Number of contracts recorded(units) 1
Contracts recorded and not re-gularised (units)
Arrears or amount due on thecontracts recorded and not re-gularised (thousands of euro) 2
1994 40,954 25,884 18,822 233,069
1995 54,066 34,512 22,676 331,111
1996 57,349 37,026 24,971 357,165
1997 59,149 38,305 25,954 400,100
1998 60,394 39,238 27,449 440,680
1999 60,152 39,220 27,892 439,592
2000 63,630 41,364 30,479 492,833
2001 67,144 43,749 32,509 600,775
2002 70,161 45,530 33,127 641,725
2001 I 63,792 41,608 31,182 502,266
II 65,235 42,659 31,839 553,472
III 66,482 43,360 32,080 604,087
IV 67,144 43,749 32,509 600,775
2002 I 68,218 44,544 33,184 619,578
II 69,175 45,209 33,394 627,092
III 69,566 45,466 33,143 637,923
IV 70,161 45,530 33,127 641,725
2003 I 71,222 46,173 33,852 665,105
2002 May 69,509 45,391 33,809 625,610
June 69,175 45,209 33,394 627,092
July 68,927 44,971 33,195 629,320
August 69,493 45,359 33,111 641,040
September 69,566 45,466 33,143 637,923
October 69,447 45,086 32,829 626,742
November 69,967 45,377 33,188 636,060
December 70,161 45,530 33,127 641,725
2003 January 70,726 45,905 33,469 644,130
February 71,039 46,138 33,853 650,987
March 71,222 46,173 33,852 665,105
April 71,580 46,404 34,115 670,698
May 70,460 3 45,769 3 33,944 3 671,784 3
Source: CCCO (NBB)
1 The records are kept for one year from the date of regularisation in the case of a contractwith payment arrears, and for two years from the date of regularisation in the case of a con-tract which is due.
2 For contracts not due, the amount is the arrears ; for contracts due the figure is the amountimmediately due.
3 Due to changes resulting from the coming into operation of the positive Credit Central, thestatistical series with regard to not honoured contracts are in preparation.
Bibliographical reference: Bulletin de la Banque Nationale de Belgique, LXIXth year, num-ber 9, September 1994.
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16.4 CREDITS REGISTERED AT THE CENTRAL OFFICE FOR CREDITS TO COMPANIES16.4.1 CREDITS OF 25,000 EUR AND OVER OF WHICH THE BENEFICIARY IS A BELGIAN RESIDENT: BREAKDOWN BY BRANCH OF ACTIVITY OF THE
BENEFICIARY
(end of period, millions of euro)
1999 2000 2001 2002 2001 2002 20031999 2000 2001 2002
III IV I II III IV I II III
Outstanding amounts openedAgriculture, hunting, forestry and fishing 7,320 7,847 7,046 6,827 7,717 7,046 7,000 7,015 6,985 6,827 6,864 6,856 6,853
Mining and quarrying 1,196 951 952 1,075 990 952 1,091 1,057 1,044 1,075 986 870 867
Manufacturing industries 41,729 40,133 40,366 32,233 39,160 40,366 37,255 34,307 33,396 32,233 31,825 30,872 29,634
Electricity, gas and water supply 2,038 2,356 2,206 3,659 2,088 2,206 2,956 3,834 3,874 3,659 3,601 3,517 3,836
Construction 7,805 8,366 8,269 7,893 8,520 8,269 8,081 7,973 7,830 7,893 8,003 8,108 8,160
Sale, maintenance and repair of motor vehicles and motorcy-cles; retail sale of automotive fuel 5,978 6,485 6,167 5,669 6,145 6,167 5,771 5,422 5,631 5,669 5,758 5,730 5,695
Wholesale trade and commission trade, except of motor ve-hicles and motorcycles 25,826 25,071 23,037 19,837 23,617 23,037 22,535 20,773 20,691 19,837 19,519 19,364 19,176
Retail trade, except of motor vehicles and motorcycles 7,562 7,841 7,237 6,759 7,569 7,237 7,172 6,943 6,813 6,759 6,893 7,038 6,955
Hotels and restaurants 3,011 2,806 2,744 2,738 3,170 2,744 2,691 2,658 2,667 2,738 2,784 2,835 2,821
Transport, storage and communications 10,639 10,118 9,112 8,619 9,577 9,112 8,937 8,787 8,608 8,619 8,511 8,273 7,974
Financial intermediation 22,786 24,162 25,979 26,115 24,986 25,979 26,090 26,068 25,494 26,115 26,722 22,667 21,661
Real estate, renting and business activities 34,482 37,016 35,009 35,241 37,753 35,009 35,141 34,680 35,791 35,241 36,654 36,687 37,024
Public administration 34,102 32,822 33,254 32,747 34,028 33,254 32,147 32,262 32,593 32,747 32,777 30,744 32,106
Education 1,306 1,333 1,266 1,344 1,334 1,266 1,287 1,282 1,342 1,344 1,380 1,383 1,364
Health and social work 7,745 8,464 8,255 8,403 8,419 8,255 8,273 8,341 8,250 8,403 8,481 8,702 8,946
Community services: sewage and refuse disposal, sanitationand similar activities 1,421 1,475 1,571 1,550 1,502 1,571 1,524 1,497 1,534 1,550 1,605 1,616 1,653
Social activities: membership organizations 353 443 439 582 421 439 453 462 526 582 628 616 615
Social activities: recreational, cultural and sporting activities 1,459 1,439 1,520 1,406 1,735 1,520 1,375 1,358 1,360 1,406 1,348 1,354 1,364
Personal service activities and private households withemployed persons 704 765 745 730 761 745 737 734 729 730 742 749 751
Individuals, natural persons 2,084 2,125 2,178 1,925 2,108 2,178 1,840 1,824 1,833 1,925 1,953 1,860 1,833
Extra-territorial organizations and bodies 112 10 10 34 10 10 9 8 9 34 33 33 33
Companies for which we have not enough information 35 74 151 109 142 151 114 138 155 109 83 82 56
Total 219,693 222,102 217,513 205,495 221,752 217,513 212,479 207,423 207,155 205,495 207,150 199,956 199,377
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16.4.1 CREDITS OF 25,000 EUR AND OVER OF WHICH THE BENEFICIARY IS A BELGIAN RESIDENT: BREAKDOWN BY BRANCH OF ACTIVITY OF THEBENEFICIARY (CONTINUED)
(end of period, millions of euro)
2003200220012002200120001999
IIIIIIIVIIIIIIIVIII
2002200120001999
Outstanding amounts usedAgriculture, hunting, forestry and fishing 5,514 5,657 5,475 5,440 5,632 5,475 5,431 5,559 5,540 5,440 5,443 5,430 5,425
Mining and quarrying 587 610 564 582 514 564 659 603 586 582 550 534 470
Manufacturing industries 22,165 22,812 21,943 18,062 21,000 21,943 21,392 19,802 19,163 18,062 17,848 18,594 18,152
Electricity, gas and water supply 1,295 1,550 1,499 2,962 1,459 1,499 1,824 2,084 2,088 2,962 3,158 3,343 3,277
Construction 4,953 5,253 5,268 5,198 5,310 5,268 5,236 5,379 5,369 5,198 5,306 5,443 5,313
Sale, maintenance and repair of motor vehicles and motorcy-cles; retail sale of automotive fuel 3,270 3,499 3,385 3,401 3,317 3,385 3,348 3,329 3,386 3,401 3,492 3,462 3,436
Wholesale trade and commission trade, except of motor ve-hicles and motorcycles 13,472 14,529 13,580 12,182 13,615 13,580 13,336 13,265 13,408 12,182 12,881 12,595 12,483
Retail trade, except of motor vehicles and motorcycles 5,408 5,610 5,509 5,636 5,469 5,509 5,450 5,695 5,493 5,636 5,667 5,839 5,757
Hotels and restaurants 2,327 2,341 2,364 2,482 2,361 2,364 2,347 2,439 2,491 2,482 2,537 2,658 2,579
Transport, storage and communications 6,777 7,156 6,332 5,933 6,354 6,332 6,314 6,461 6,276 5,933 6,067 5,953 5,740
Financial intermediation 13,431 13,860 15,183 14,136 15,122 15,183 15,643 16,217 15,370 14,136 14,745 13,703 13,361
Real estate, renting and business activities 22,387 26,112 25,976 26,360 26,236 25,976 26,345 26,742 26,607 26,360 26,309 27,087 27,118
Public administration 23,187 25,578 24,873 24,146 25,275 24,873 23,128 23,629 24,851 24,146 25,062 23,427 24,965
Education 1,062 1,094 976 1,029 1,018 976 985 1,046 1,019 1,029 1,118 1,134 1,169
Health and social work 5,891 6,197 6,269 6,268 6,040 6,269 6,198 6,259 6,188 6,268 6,265 6,504 6,636
Community services: sewage and refuse disposal, sanitationand similar activities 864 1,048 1,053 1,100 1,088 1,053 1,131 1,134 1,122 1,100 1,131 1,198 1,145
Social activities: membership organizations 236 280 306 403 286 306 316 317 366 403 429 454 442
Social activities: recreational, cultural and sporting activities 1,100 1,118 1,017 1,118 1,035 1,017 1,100 1,130 1,055 1,118 1,101 1,101 1,100
Personal service activities and private households withemployed persons 552 630 615 604 654 615 610 639 618 604 625 638 625
Individuals, natural persons 1,573 1,592 1,850 1,644 1,594 1,850 1,603 1,669 1,653 1,644 1,674 1,598 1,601
Extra-territorial organizations and bodies 3 3 2 2 3 2 2 1 2 2 2 2 2
Companies for which we have not enough information 5 28 89 61 72 89 116 77 102 61 39 56 46
Total 136,059 146,557 144,128 138,749 143,454 144,128 142,514 143,476 142,753 138,749 141,449 140,753 140,842
Sources: National Bank of Belgium, Central Office for Credits to Companies
N.B.: Is considered to be the beneficiary, the enterprise or individual that has been granted the credit to, and which consequently is in the position to have the right of initiative to use it. He can exercise this right by contracting debts with financial institutions or by handing overcommercial credits to third parties. The beneficial enterprises include the public but not financial institutions.
Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 1999-IV, p. 13-18. Statistical bulletin of the National Bank of Belgium, 2003-III, p. 16.
132 Statistical bulletin of the National Bank of Belgium (2003--IV)
16.4.2 CREDITS OF 25,000 EUR AND OVER OF WHICH THE BENEFICIARY IS A NON-RESIDENT:BREAKDOWN BY GEOGRAPHICAL AREA OF RESIDENCE OF THE BENEFICIARY - OUTSTANDINGAMOUNTS OPENED
(end of period, millions of euro)
1999 2000 2001 2002 2001 2002 20031999 2000 2001 2002
III IV I II III IV I II III
Economic zones 77,223 77,874 86,067 67,132 82,146 86,067 80,406 69,775 72,126 67,132 65,981 69,883 70,535
European Union 48,313 47,042 54,280 42,065 51,905 54,280 50,103 44,132 44,047 42,065 40,952 47,261 49,892
MUMS 33,781 32,300 36,382 28,455 37,269 36,382 33,331 29,589 29,469 28,455 27,820 34,476 36,748
Austria 9 8 143 116 98 143 143 149 132 116 128 178 177
Germany 2,760 2,385 2,418 2,247 2,345 2,418 2,183 2,070 2,080 2,247 2,230 2,103 2,146
Spain 2,605 1,760 3,254 3,599 2,356 3,254 3,449 3,002 3,192 3,599 3,759 3,621 3,348
Finland 470 489 473 368 600 473 371 367 386 368 619 616 639
France 10,541 9,754 10,576 7,977 11,009 10,576 9,257 8,295 8,293 7,977 7,876 8,235 7,780
Greece 131 175 65 32 92 65 48 40 34 32 23 16 11
Ireland 950 1,025 3,532 2,798 3,541 3,532 3,491 2,905 2,948 2,798 2,694 2,575 4,446
Italy 848 664 1,344 1,394 593 1,344 1,281 1,365 1,355 1,394 1,339 1,389 1,724
Luxembourg 3,709 3,462 3,229 2,524 3,264 3,229 3,218 3,043 2,773 2,524 2,327 2,993 3,130
Netherlands 11,337 11,960 10,113 6,395 12,746 10,113 8,903 7,369 7,260 6,395 5,789 11,719 12,308
Portugal 421 618 1,235 1,005 625 1,235 987 984 1,016 1,005 1,036 1,031 1,039
Other countries of theEuropean Union 14,532 14,742 17,898 13,610 14,636 17,898 16,772 14,543 14,578 13,610 13,132 12,785 13,144
Denmark 573 547 675 948 616 675 825 840 946 948 770 823 811
United Kingdom 12,158 12,488 15,758 11,620 12,387 15,758 14,757 12,619 12,550 11,620 11,301 11,001 11,241
Sweden 1,801 1,707 1,465 1,042 1,633 1,465 1,190 1,084 1,082 1,042 1,061 961 1,092
NAFTA 24,826 26,434 28,001 23,868 26,498 28,001 26,919 23,307 26,277 23,868 23,882 21,527 19,634
Canada 927 1,329 1,020 1,122 1,050 1,020 1,132 774 911 1,122 1,321 1,170 1,188
Mexico 547 554 611 460 646 611 529 451 465 460 473 472 440
United States of America 23,352 24,551 26,370 22,286 24,802 26,370 25,258 22,082 24,901 22,286 22,088 19,885 18,006
MERCOSUR 4,084 4,398 3,786 1,199 3,743 3,786 3,384 2,336 1,802 1,199 1,147 1,095 1,009
Argentina 1,797 1,759 1,863 434 1,620 1,863 1,479 666 547 434 394 408 419
Bolivia 0 0 0 0 0 0 0 0 0 0 0 0 0
Brazil 1,713 2,019 1,545 518 1,756 1,545 1,559 1,368 960 518 543 513 442
Chile 520 544 345 220 358 345 314 264 251 220 190 159 133
Paraguay 0 0 0 0 0 0 0 0 0 0 9 9 9
Uruguay 54 76 33 27 9 33 32 38 44 27 11 6 6
Other countries 21,256 21,916 15,898 13,373 19,219 15,898 14,652 12,930 13,920 13,373 15,248 19,368 33,374
Netherlands Antilles 4,282 3,971 212 297 3,932 212 279 235 316 297 278 6,417 6,381
Australia 1,620 1,369 1,608 70 1,399 1,608 195 181 213 70 42 42 1
Switzerland 2,093 1,787 1,545 1,879 1,459 1,545 1,973 1,736 1,788 1,879 1,698 1,213 1,621
CIS 267 278 92 234 275 92 122 265 294 234 292 287 249
Hong Kong 829 784 630 338 656 630 458 344 382 338 318 259 413
Indonesia 1,078 870 463 147 707 463 447 349 179 147 101 99 91
India 280 378 305 214 310 305 255 175 175 214 249 207 209
Cayman Islands 1,071 1,158 1,187 869 1,179 1,187 1,152 905 917 869 2,601 2,450 2,797
Turkey 612 767 401 472 428 401 535 494 553 472 488 420 414
Taiwan 1,219 1,394 1,146 832 1,241 1,146 1,106 918 904 832 772 702 825
Total zones and other coun-tries 98,479 99,790 101,965 80,505 101,365 101,965 95,058 82,705 86,046 80,505 81,229 89,251 103,909
Sources: National Bank of Belgium, Central Office for Credits to Companies
N.B.: Is considered to be the beneficiary , the enterprise or individual that has been granted the credit to, and which consequently is in the position to have the right of initiative to use it. He canexercise this right by contracting debts with the financial institutions or by handing over commercial credits to third parties.
Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 1999-IV, p. 13-18. Statistical bulletin of the National Bank of Belgium, 2003-III, p. 16.
133Statistical bulletin of the National Bank of Belgium (2003--IV)
17 CHAPTER 17: CAPITAL MARKET17.1 FIXED INTEREST SECURITIES OF MORE THAN ONE YEAR PER CREDITOR SECTOR
(millions of euro)
Non-financial cor-porations
General govern-ment
of which: Financial institu-tions 1
Rest of the world 2 Total of which:Non-financial cor-porations
General govern-ment
Federal govern-ment
Financial institu-tions 1
Rest of the world Total
Securities denomi-nated in euro
Net issues
1993 1,052 8,706 8,285 --3,461 6,229 12,526 7,990
1994 --1,205 --551 --517 12,728 5,295 16,266 11,977
1995 1,330 24,768 23,308 4,142 9,868 40,108 35,157
1996 2,043 3,786 4,000 5,426 18,269 29,525 16,977
1997 222 5,296 4,272 --5,999 16,764 16,284 6,272
1998 1,271 7,509 7,656 --10,635 9,080 7,224 439
1999 1,201 7,565 8,224 --4,587 28,673 32,851 32,727
2000 --700 7,040 7,365 --317 21,174 27,196 22,522
2001 5,649 4,500 4,574 --3,017 49,120 56,252 51,154
2002 1,941 4,532 4,027 --2,592 4,023 7,903 13,235
2001 II --12 1,708 1,712 --1,567 7,196 7,325 7,438
III 3,528 4,180 4,138 92 22,161 29,960 23,089
IV 2,098 --4,746 --4,756 --549 16,288 13,091 16,390
2002 I 779 3,584 3,244 --858 816 4,322 9,479
II 909 --5,812 --5,914 793 2,399 --1,711 --3,360
III 76 2,318 2,271 --206 --948 1,241 2,006
IV 176 4,441 4,427 --2,321 1,755 4,051 5,109
2003 I 682 --8,932 --8,735 --2,687 5,856 --5,081 --3,635
II 421 6,619 6,526 --2,939 5,403 9,505 14,280
Outstanding amounts at end of period
1993 8,796 166,700 162,595 76,262 77,219 328,977 248,911
1994 7,627 166,123 163,341 88,990 80,072 342,812 261,128
1995 8,931 191,015 187,888 93,149 86,289 379,384 295,799
1996 10,948 194,195 191,282 98,575 107,801 411,519 312,573
1997 11,126 199,243 195,305 92,576 128,829 431,774 317,789
1998 9,482 204,601 200,798 83,649 144,554 442,286 375,773
1999 10,860 212,225 209,082 79,070 180,415 482,570 407,444
2000 10,230 219,625 216,807 78,721 204,060 512,636 429,897
2001 15,941 224,674 221,929 74,590 255,048 570,253 480,334
2002 17,845 229,005 225,755 71,988 251,192 570,029 494,321
2001 II 10,385 225,368 222,675 75,052 218,234 529,039 440,950
III 13,816 229,540 226,806 75,136 236,845 555,338 464,002
IV 15,941 224,674 221,929 74,590 255,048 570,253 480,334
2002 I 16,729 228,264 225,179 73,733 256,439 575,166 489,781
II 17,599 222,347 219,160 74,518 251,063 565,527 487,143
III 17,673 224,642 221,408 74,312 251,796 568,423 489,287
IV 17,845 229,005 225,755 71,988 251,192 570,029 494,321
2003 I 18,522 219,955 216,904 69,298 253,266 561,042 490,649
II 18,937 226,361 223,216 66,357 256,374 568,028 504,861
Source: NBB Berekeningen: NBB
1 This sector encompasses the monetary authorities, credit institutions, monetary and non-monetary undertakings for collective investment, insurance corporations and pensionfunds, the Postal Cheque Office (up to the creation of the Postbank in April 1998), the Re-
discount and Guarantee Institute (up to its dissolution in 1999), the Fund for the Protectionof Deposits and Financial Instruments, securities dealers, mortgage companies, regionalsocial housing companies and financial holding corporations.
2 Securities issued by the Rest of the world and acquired by domestic sectors of the econo-my.
134 Statistical bulletin of the National Bank of Belgium (2003--IV)
17.2 FIXED-INTEREST SECURITIES OF MORE THAN ONE YEAR HELD BY INDIVIDUALS
(millions of euro)
Non-financial corpora-tions
General government Financial institutions 1 Rest of the world 2 Total of which:Non-financial corpora-tions
General government Financial institutions Rest of the world Total
Securities denomi-nated in euro
Net acquisitions
1993 1,080 --6,652 --1,265 864 --5,973 --5,879
1994 --995 --3,622 12,423 5,432 13,238 11,397
1995 180 1,497 4,215 5,115 11,007 12,868
1996 1,484 --4,836 --1,101 10,070 5,617 --1,150
1997 1,431 --504 --7,782 5,978 --877 822
1998 999 5,428 --6,847 1,921 1,501 546
1999 2,484 --533 --3,900 7,016 5,066 --406
2000 --1,105 162 --1,527 498 --1,972 --3,831
2001 4,742 462 --2,692 1,460 3,972 2,967
2002 1,797 --501 --2,415 --1,148 --2,266 157
2001 II --277 529 --1,518 --328 --1,594 --2,333
III 3,724 165 596 --459 4,026 3,750
IV 1,171 --323 --544 2,093 2,397 5,184
2002 I 1,077 --318 --363 1,945 2,342 2,538
II 498 --181 87 160 563 35
III 4 --29 --508 --1,450 --1,982 --782
IV 219 27 --1,631 --1,804 --3,189 --1,634
2003 I --164 --1,954 --1,783 --316 --4,217 --3,724
II --689 --203 --2,421 --2,046 --5,359 --3,581
Outstanding amounts at end of period
1993 2,555 13,499 68,295 41,202 125,552 99,298
1994 1,586 10,358 80,719 46,677 139,339 111,202
1995 1,694 11,099 84,198 49,103 146,095 121,735
1996 3,149 5,895 83,096 60,764 152,904 120,188
1997 4,566 5,082 75,314 68,877 153,839 120,687
1998 3,921 12,770 69,514 66,345 152,550 130,408
1999 6,544 12,183 65,615 76,616 160,957 130,169
2000 5,452 12,350 64,088 78,015 159,905 126,355
2001 10,204 12,804 61,395 80,178 164,581 129,335
2002 13,264 12,297 58,981 75,047 159,589 130,745
2001 II 5,309 12,968 61,344 78,972 158,593 120,400
III 9,032 13,131 61,940 77,198 161,300 124,141
IV 10,204 12,804 61,395 80,178 164,581 129,335
2002 I 11,284 12,484 61,033 82,425 167,226 131,883
II 13,043 12,302 61,120 77,835 164,299 133,171
III 13,044 12,271 60,612 77,394 163,321 132,381
IV 13,264 12,297 58,981 75,047 159,589 130,745
2003 I 12,953 10,341 57,198 72,061 152,552 126,873
II 12,118 10,137 54,776 68,909 145,940 123,133
Source: NBB Berekeningen: NBB
1 This sector encompasses the monetary authorities, credit institutions, monetary and non-monetary undertakings for collective investment, insurance corporations and pensionfunds, the Postal Cheque Office (up to the creation of the Postbank in April 1998), the Re-discount and Guarantee Institute (up to its dissolution in 1999), the Fund for the Protection
of Deposits and Financial Instruments, securities dealers, mortgage companies, regionalsocial housing companies and financial holding corporations.
2 Securities issued by the Rest of the world and acquired by domestic sectors of the econo-my.
135Statistical bulletin of the National Bank of Belgium (2003--IV)
17.3 FIXED-INTEREST SECURITIES OF MORE THAN ONE YEAR : BREAKDOWN BY ISSUER SECTORAND BY HOLDER SECTOR
(end of period outstanding amounts, millions of euros)
Holders of which
Individuals Non-finan-cial corpora-tions
Generalgovernment
Monetary fi-nancial insti-tutions 1
Insurancecorporationsand pensionfunds 2
Other finan-cial institu-tions 3
Rest of theworld
Total Securitiesdenomi-nated in eu-ro
1999Issuers
Non-financial corporations 6,544 96 7 2,657 938 148 470 10,860 9,516
Federal government 12,183 3,443 3,231 99,476 29,788 5,197 55,764 209,082 201,448
Communities and regions - 165 191 1,976 - 13 483 2,827 2,827
Local authorities - - 0 2 - 0 - 2 2
Social security funds - - - 314 - 0 - 314 314
Financial institutions 65,615 1,911 58 3,901 1,152 324 6,108 79,070 78,586
Rest of the world 4 76,616 1,781 0 81,324 13,186 7,507 - 180,415 114,751
Total Issuers 160,957 7,396 3,488 189,651 45,064 13,189 62,825 482,570 407,444
2000Issuers
Non-financial corporations 5,452 6 3 3,129 831 280 529 10,230 8,459
Federal government 12,350 3,422 4,477 83,951 27,112 7,040 78,455 216,807 210,350
Communities and regions - 128 336 1,695 - 23 378 2,560 2,560
Local authorities - - 0 1 - 0 - 1 1
Social security funds - - - 257 - 0 - 257 257
Financial institutions 64,088 2,342 26 3,645 958 292 7,370 78,721 78,196
Rest of the world 4 78,015 547 0 97,784 17,995 9,719 - 204,060 130,073
Total Issuers 159,905 6,445 4,842 190,462 46,895 17,355 86,732 512,636 429,897
2001Issuers
Non-financial corporations 10,204 159 7 2,768 955 123 1,726 15,941 14,846
Federal government 12,804 4,275 5,097 76,706 25,884 8,158 89,006 221,929 217,202
Communities and regions - 153 534 1,594 - 0 463 2,744 2,744
Local authorities - - 0 1 - 0 - 1 1
Social security funds - - - 0 - 0 - 0 0
Financial institutions 61,395 1,086 22 3,099 1,017 354 7,617 74,590 73,904
Rest of the world 4 80,178 3,725 0 136,619 23,135 11,391 - 255,048 171,638
Total Issuers 164,581 9,398 5,659 220,787 50,990 20,025 98,812 570,253 480,334
2002Issuers
Non-financial corporations 13,264 151 6 763 1,094 206 2,362 17,845 17,723
Federal government 12,297 4,692 6,448 68,358 26,172 7,499 100,290 225,755 222,163
Communities and regions - 83 536 1,678 - 17 934 3,249 3,249
Local authorities - - 0 0 - 0 - 0 0
Social security funds - - - 0 - 0 - 0 0
Financial institutions 58,981 1,160 14 2,954 1,215 249 7,416 71,988 71,257
Rest of the world 4 75,047 4,512 0 131,701 27,080 12,853 - 251,192 179,929
Total Issuers 159,589 10,597 7,003 205,454 55,561 20,823 111,002 570,029 494,321
2003 IIIssuers
Non-financial corporations 12,118 49 6 1,501 1,300 314 3,649 18,937 18,827
Federal government 10,137 3,854 6,506 62,957 25,178 7,040 107,544 223,216 219,928
Communities and regions - 246 969 1,179 - 3 747 3,145 3,145
Local authorities - - 0 0 - 0 - 0 0
Social security funds - - - 0 - 0 - 0 0
Financial institutions 54,776 1,450 13 2,745 1,308 161 5,903 66,357 65,947
Rest of the world 4 68,909 4,817 0 135,482 35,796 11,370 - 256,374 197,014
Total Issuers 145,940 10,416 7,494 203,864 63,582 18,888 117,843 568,028 504,861
Source: NBB Berekeningen: NBB
1 Monetary authorities, credit institutions and monetary undertakings for collective invest-ment.
2 Including the Fund for the Protection of Deposits and Financial instruments.3 Non-monetary undertakings for collective investment, the postal Cheque Office (up to the
creation of the Postbank in April 1998), the Rediscount and Guarantee Institute (up to its
dissolution in 1999), securities dealers, mortgage companies, regional social housingcompanies and financial holding corporations.
4 Securities issued by the Rest of the world and acquired by domestic sectors of the econo-my.
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17.4 PUBLIC ISSUES, BY THE PUBLIC SECTOR, OF BONDS IN NATIONAL CURRENCY
Issuers 1 Period Nominal interestrate (p.c.)
Issue price (p.c.) Duration of loan Amounts issued(millions of euro) 2
Yield for bearer (p.c.) 3Issuers
Issue Maturity
Nominal interestrate (p.c.)
Issue price (p.c.)
Years Months
Amounts issued(millions of euro) 2
At interim maturitydate
At final maturity da-te
1998 23 Feb. EB/BES 4 1998 2003/05 4.5 100.00 5/7 247 4.50 4.50
24 Feb. EB/BES 4 1998 01/03/05 4.1 5 100.00 3/5/7 162 4.10 6 4.44 7
25 May EB/BES 4 1998 2003/05 4.6 100.00 5/7 260 4.60 4.60
26 May EB/BES 4 1998 01/03/05 4.2 8 100.00 3/5/7 155 4.20 9 4.52 7
26 Aug. EB/BES 4 1998 2003/05 4.2 100.00 5/7 206 4.20 4.20
27 Aug. EB/BES 4 1998 01/03/05 4 10 100.00 3/5/7 304 4.00 11 4.18 7
25 Nov. EB/BES 4 1998 2003/05 3.75 100.00 5/7 113 3.75 3.75
26 Nov. EB/BES 4 1998 01/03/05 3.5 12 100.00 3/5/7 147 3.50 13 3.69 7
1999 15 Jan. RW/WG 1999 2004 3.6 14 100.00 5 124 3.60 15 -
23 Feb. EB/BES 4 1999 2004/06 3.35 99.75 5/7 129 3.41 3.39
24 Feb. EB/BES 4 1999 02/04/06 3 16 99.75 3/5/7 117 3.09 17 3.27 7
26 May EB/BES 4 1999 2004/06 3,30 100.00 5/7 115 3.30 3.30
27 May EB/BES 4 1999 02/04/06 2,90 18 100.00 3/5/7 65 2.90 19 3.22 7
26 Aug. EB/BES 4 1999 2004/06 4,35 100.25 5/7 222 4.29 4.31
27 Aug. EB/BES 4 1999 02/04/06 3,8 20 100.00 3/5/7 128 3.80 21 4.22 7
25 Nov. EB/BES 4 1999 2004/06 4,55 100.00 5/7 128 4.55 4.55
26 Nov. EB/BES 4 1999 2007 5,05 100.00 8 131 - 5.05
2000 24 Feb. EB/BES 4 2000 2005/07 5,1 100.00 5/7 272 5.10 5.10
25 Feb. EB/BES 4 2000 2008 5,5 100.00 8 141 - 5.50
23 May EB/BES 4 2000 2005/07 5,2 100.00 5/7 253 5.20 5.20
24 May EB/BES 4 2000 2008 5,5 100.00 8 94 - 5.50
24 Aug. EB/BES 4 2000 2005/07 5,25 100.00 5/7 200 5.25 5.25
25 Aug. EB/BES 4 2000 2008 5,45 100.00 8 54 - 5.45
23 Nov. EB/BES 4 2000 2005/07 5,05 100.00 5/7 141 5.05 5.05
24 Nov. EB/BES 4 2000 2008 5,30 100.00 8 64 - 5.30
2001 22 Feb. EB/BES 4 2001 2006/08 4,55 100.00 5/7 207 4.55 4.55
23 Feb. EB/BES 4 2001 2009 4,75 100.00 8 69 - 4.75
22 May EB/BES 4 2001 2006/08 4,65 100.00 5/7 166 4.65 4.65
23 May EB/BES 4 2001 2009 4,9 100.00 8 74 - 4.90
24 Aug. EB/BES 4 2001 2006/08 4,35 100.00 5/7 150 4.35 4.35
25 Aug. EB/BES 4 2001 2009 4,75 100.00 8 122 - 4.75
23 Nov. EB/BES 4 2001 2006/08 3,65 99.00 5/7 118 3.87 3.82
24 Nov. EB/BES 4 2001 2009 4,15 99.00 8 133 - 4.30
2002 21 Feb. EB/BES 4 2002 2007/09 4,4 100.00 5/7 299 4.40 4.40
22 Feb. EB/BES 4 2002 2010 4,7 100.00 8 162 - 4.70
24 May EB/BES 4 2002 2007/09 4,6 100.00 5/7 216 4.60 4.60
25 May EB/BES 4 2002 2010 4,95 100.00 8 180 - 4.95
26 Aug. EB/BES 4 2002 2007/09 3.85 99.50 5/7 112 3.96 3.93
27 Aug. EB/BES 4 2002 2010 4.2 99.50 8 117 - 4.28
25 Nov. EB/BES 4 2002 2007/09 3.6 100.00 5/7 99 3.60 3.60
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17.4 PUBLIC ISSUES, BY THE PUBLIC SECTOR, OF BONDS IN NATIONAL CURRENCY (CONTINUED)
Yield for bearer (p.c.) 3Amounts issued(millions of euro) 2
Duration of loanIssue price (p.c.)Nominal interestrate (p.c.)
PeriodIssuers 1
At final maturity da-te
At interim maturitydate
Amounts issued(millions of euro) 2
MonthsYears
Issue price (p.c.)Nominal interestrate (p.c.)
MaturityIssue
Issuers 1
26 Nov. EB/BES 4 2002 2010 4.05 100.00 8 113 - 4.05
2003 21 Feb. EB/BES 2003 2008/10 3.05 100.00 5/7 116 3.05 3.05
22 Feb. EB/BES 2003 2011 3.6 100.00 8 160 - 3.60
22 May EB/BES 2003 2008 2.8 100.00 5 86 - 2.80
23 May EB/BES 2003 2011 3.4 100.00 8 181 - 3.40
26 Aug. EB/BES 2003 2008 3.2 100.00 5 179 - 3.20
27 Aug. EB/BES 2003 2011 3.7 100.00 8 141 - 3.70
Source: NBB
N.B.: Loans which are subject to a Decree in the ”Belgisch Staatsblad/Moniteur belge”, excluding tap issues.
1 EB/BES: Belgian StateFR/WF: Road FundFARFC: Assistance Fund for the Financial Recovery of MunicipalitiesRW/WG: Walloon Region
2 Nominal values.3 Yields calculated before retentions of tax at source.4 State note.5 Nominal interest rate for the first three years. Guaranteed minimum rate at the interim maturity date, 3th March 2003: 4.50 and at
the final maturity date, 3th March 2005: 5.00.6 Yield for the first three years. Guaranteed minimum yield at the interim maturity date, 3th March 2003: 4.25.7 Guaranteed minimum yield.8 Nominal interest rate for the first three years. Guaranteed minimum rate at the interim maturity date, 3th June 2003: 4.60 and at
the final maturity date, 3th June 2005: 5.00.9 Yield for the first three years. Guaranteed minimum yield at the interim maturity date, 3th June 2003: 4.35.
10 Nominal interest rate for the first three years. Guaranteed minimum rate at the interim maturity date, 3th September 2003: 4.20 andat the final maturity date, 3th September 2005: 4.50.
11 Yield for the first three years. Guaranteed minimum yield at the interim maturity date, 3th September 2003: 4.08.12 Nominal interest rate for the first three years. Guaranteed minimum rate at the interim maturity date, 3th December 2003: 3.70 and
at the final maturity date, 3th December 2005: 4.00.13 Yield for the first three years. Guaranteed minimum yield at the interim maturity date, 3th December 2003: 3.58.14 Nominal interest rate for the first four years. This loan does not provide any interest during the fifth year. At the maturity date of
the fifth year, 5 february 2004, the investors are only entitled to the repayment of the capital and possibly to a redemption premiumlinked to the Wall 21 - index.
15 Yield for the first four years.16 Nominal interest rate for the first three years. Guaranteed minimum rate at the interim maturity date, 3th March 2004: 3.35 and at
the final maturity date, 3th March 2006: 3.50.17 Yield for the first three years. Guaranteed minimum yield at the interim maturity date, 3th March 2004: 3.19.18 Nominal interest rate for the first three years. Guaranteed minimum rate at the interim maturity date, 3th June 2004: 3.25 and at
the final maturity date, 3th June 2006: 3.75.19 Yield for the first three years. Guaranteed minimum yield at the interim maturity date, 3th June 2004: 3.03.20 Nominal interest rate for the first three years. Guaranteed minimum rate at the interim maturity date, 3th September 2004: 4.30 and
at the final maturity date, 3th September 2006: 4.90.21 Yield for the first three years. Guaranteed minimum yield at the interim maturity date, 3th September 2004: 3.99.
138 Statistical bulletin of the National Bank of Belgium (2003--IV)
17.5 HOLDERSHIP OF DEMATERIALISED LINEAR BONDS
(end of period, millions of euro)
Belgium Foreign countries Grand to-tal
MFI Other fi-nancial
Generalgovern-
Other Total European Union, excluding Belgium Rest of the world Total
Grand to-tal
Creditinstitu-
Other 1
Other fi-nancialinstitu-tions
Generalgovern-ment
Other Total
MUMS Other member-states Banks Otherclients
Total
Creditinstitu-tions
Other institu-tions
ment
MFI Otherclients
MFI Otherclients
Banks Otherclients
1993 36,882 12,256 1,125 5,870 56,133 24,160 80,293
1994 50,360 16,941 2,186 10,711 80,199 23,057 103,255
1995 59,606 18,247 2,722 11,351 91,926 27,640 119,566
1996 60,769 18,704 3,042 13,334 95,848 31,792 127,640
1997 59,031 22,186 3,295 13,597 98,109 33,364 131,473
1998 64,128 24,028 3,701 14,834 106,691 33,833 140,523
1999 38,181 6,410 28,396 2,172 7,216 82,375 51,228 5,682 18,073 689 75,672 158,047
2000 39,169 8,169 23,331 2,309 7,123 80,101 53,556 4,549 34,757 193 93,055 173,156
2001 32,184 2,776 27,634 4,732 5,811 73,137 64,190 5,796 17,324 1,250 22,732 1,298 112,590 185,727
2002 29,621 2,392 26,478 7,650 2,905 69,046 67,556 5,784 23,014 1,378 28,789 1,788 128,309 197,355
2001 III 35,237 3,117 27,272 5,191 5,437 76,254 56,969 5,905 16,028 1,447 28,101 1,263 109,713 185,967
IV 32,184 2,776 27,634 4,732 5,811 73,137 64,190 5,796 17,324 1,250 22,732 1,298 112,590 185,727
2002 I 32,886 3,044 27,272 5,208 6,239 74,649 60,732 5,424 25,600 1,257 24,193 2,088 119,294 193,943
II 30,546 2,946 26,548 5,284 5,728 71,052 63,529 4,991 19,541 1,417 27,798 2,220 119,496 190,548
III 28,804 2,725 27,210 6,742 3,116 68,597 63,823 5,685 25,081 2,473 25,063 2,212 124,337 192,934
IV 29,621 2,392 26,478 7,650 2,905 69,046 67,556 5,784 23,014 1,378 28,789 1,788 128,309 197,355
2003 I 25,543 2,345 24,755 7,644 2,935 63,222 64,518 5,239 26,495 395 31,963 1,796 130,406 193,628
II 26,348 2,093 25,400 7,887 2,779 64,507 69,897 4,448 28,550 371 29,899 2,513 13,568 200,186
III p 27,578 1,998 26,124 7,974 2,517 66,191 73,440 1,013 28,541 147 29,551 1,002 136,694 202,885
N.B.: Based on the compulsory reporting by credit institutions which have obtained permission to keep accounts for dematerialised securities of the public debt (Art. 49 of the Royal Decree of 23January 1991 amended by Art. 1 of the Royal Decree of 11 June 2001).
1 National Bank of Belgium and the monetary collective investment institutions . Up to and including December 1998, those MFI were included in ’Other financial institutions’.Bibliographical reference: Bulletin de la Banque Nationale de Belgique, LXVIIth year, number 4, April 1992. Statistical bulletin of the National Bank of Belgium, 1999-III, p.13. Statistical bulletinof the National Bank of Belgium, 2001-IV, p.21.
139S
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17.6 OUTSTANDING AMOUNT OF LINEAR BONDS
(end of period, millions of euro)
1999 2000 2001 2002 20031999 2000 2001 2002
year Sep. Oct. Nov. Dec.
Issue Maturity date Code Nominal interest rate(p.c.)1989 01/06/99 239 8.251990 05/04/96 245 10.001990 02/08/00 247 10.00 4,642
1991 02/01/98 248 9.251991 28/02/94 249 9.501991 28/03/03 251 9.00 12,441 12,626 12,626 9,321 0
1991 27/06/01 252 9.00 8,192 7,172
1991 29/08/97 254 9.251992 01/10/07 257 8.50 8,166 8,306 8,306 8,413 8,413 8,413 8,413 8,413 8,413
1992 25/06/02 259 8.75 10,979 10,979 8,688
1992 30/07/98 260 9.001992 24/12/12 262 8.00 6,682 8,432 8,700 8,825 8,547 8,825 8,547 8,547 8,547
1993 29/04/99 264 7.001993 29/04/04 265 7.25 10,747 10,747 10,747 10,747 8,444 9,487 8,670 8,542 8,444
1993 25/05/97 266 6.751993 29/07/08 268 7.50 8,326 8,506 8,657 8,682 7,966 7,966 7,966 7,966 7,966
1993 25/11/96 270 6.251994 16/03/99 272 VAR1994 31/03/05 273 6.50 9,614 10,113 10,178 10,178 10,178 10,178 10,178 10,178 10,178
1994 15/10/04 275 7.75 5,457 5,447 5,447 5,463 4,477 5,463 4,583 4,517 4,477
1994 22/12/00 278 7.75 6,904
1995 26/01/97 279 7.501995 28/03/15 282 8.00 5,247 6,181 7,228 7,000 6,220 7,011 6,220 6,220 6,220
1995 15/05/06 283 7.00 8,184 8,319 8,405 8,465 8,465 8,465 8,465 8,465 8,465
1996 28/03/01 285 5.00 7,908 3,930
1996 28/03/07 286 6.25 8,308 9,646 9,732 13,477 13,492 13,492 13,492 13,492 13,492
1997 22/01/00 287 4.00 480
1997 28/03/08 288 5.75 1 12,074 13,271 13,424 13,479 12,387 12,387 12,387 12,387 12,387
1997 28/03/08 289 5.75 2
1997 28/03/08 290 5.75 2
1998 28/03/28 291 5.50 6,234 9,444 10,199 10,199 10,576 10,576 10,576 10,576 10,576
1999 28/03/09 292 3.75 11,294 15,070 16,398 16,430 16,463 16,463 16,463 16,463 16,463
1999 22/04/02 293 VAR 2,000 2,000 2,000
1999 28/09/05 294 4.75 4,205 9,944 11,673 11,901 11,901 11,901 11,901 11,901 11,901
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17.6 OUTSTANDING AMOUNT OF LINEAR BONDS (CONTINUED)
(end of period, millions of euro)
20032002200120001999
Dec.Nov.Oct.Sep.year
2002200120001999
2000 28/09/10 295 5.75 13,024 15,480 15,844 15,844 15,844 15,844 15,844 15,844
2001 28/09/11 296 5.00 10,226 10,259 10,546 10,546 10,546 10,546 10,546
2001 28/09/06 297 4.75 7,612 9,595 9,611 9,611 9,611 9,611 9,611
2002 28/09/12 298 5.00 11,417 11,417 11,417 11,417 11,417 11,417
2002 24/04/06 299 VAR 2,000 2,000 2,000 2,000 2,000 2,000
2002 28/09/17 300 5.50 5,660 6,723 6,723 6,723 6,723 6,723
2003 28/09/13 301 4,25 12,975 9,496 11,960 12,975 12,975
TOTAL 158,085 173,157 185,727 197,355 205,146 202,885 203,962 205,283 205,146
Source: NBB
1 Merging of two OLO lines issued in FRF and in DEM and fungible in euro, with the present line, on 1 January 1999.
2 Since 1 January 1999, the outstanding amount of this OLO line is recorded with the data of the OLO line with an identical maturityand coupon (code 288) with whom it was on this date fungible in euro.
141Statistical bulletin of the National Bank of Belgium (2003--IV)
17.8 ISSUES SHARES
(millions of euro)
Company formations Capital increases Capitalreduc-tions
Total of issues bymeans of contribu-tions in cash
Con-tribu-tions incash
Con-tribu-tions inkind
Amountto bepaid up
Not bro-kendown
Total Con-tribu-tions incash
Con-tribu-tions inkind
Amountto bepaid up
Conver-sions ofequity
Conver-sions ofdebts
Not bro-kendown
Total
tions
Total of which: Publicissues
1993 810 2,117 255 128 3,314 6,198 3,101 633 441 1,243 635 12,252 4,971 7,007 567
1994 844 862 557 74 2,339 6,045 2,851 449 718 960 18 11,045 4,201 6,890 1,017
1995 783 1,285 346 96 2,516 6,151 2,304 313 463 1,475 71 10,782 2,911 6,934 268
1996 909 1,321 257 48 2,542 7,163 7,701 1,072 610 999 162 17,709 5,874 8,075 2,959
1997 1,347 1,909 489 20 3,769 9,546 3,762 2,820 1,019 1,800 199 19,146 4,749 10,893 2,357
1998 1,013 6,508 437 85 8,044 9,036 21,631 923 495 2,404 41 34,532 3,940 10,047 12,504
1999 1,084 3,095 356 20 4,555 15,603 15,373 1,311 1,262 2,808 569 36,926 4,469 16,687 9,367
2000 1,345 2,925 578 16 4,864 21,605 30,793 1,436 781 2,102 78 56,795 5,800 22,950 7,940
2001 955 22,431 454 1 23,841 13,123 32,262 214 1,027 4,038 99 50,763 9,790 14,078 5,711
2002 717 3,201 284 2 4,204 12,683 32,420 620 1,195 2,627 28 49,573 8,215 13,400 1,049
2002 June 60 333 19 0 412 1,538 1,818 40 54 357 2 3,809 624 1,598 521
July 74 232 31 0 337 1,147 4,751 78 14 103 3 6,096 456 1,221 59
Aug. 35 386 9 0 430 1,457 4,057 3 4 115 0 5,636 248 1,492 101
Sep. 44 102 23 0 169 373 893 15 16 123 2 1,422 200 417 2
Oct. 53 52 28 0 133 178 2,231 13 11 152 1 2,586 2,261 231 22
Nov. 42 17 17 0 76 1,445 1,821 5 29 68 0 3,368 640 1,487 14
Dec. 128 165 35 0 328 2,869 9,876 297 129 442 3 13,616 1,952 2,997 82
2003 Jan. 50 105 19 0 175 1,339 7,181 2 3 25 0 8,549 215 1,389 33
Feb. 95 31 41 3 171 155 33 7 14 7 0 216 209 250 140
March 76 68 20 1 165 391 725 8 130 240 0 1,496 444 467 183
April 36 84 20 1 141 988 1,596 426 7 369 6 3,390 2,942 1,023 6
May 48 27 17 0 92 599 429 14 163 92 0 1,297 840 647 0
June 31 81 4 1 118 457 281 2 57 124 0 921 13,403 488 281
N.B.: Including shares issued by the financial intermediaries.
142 Statistical bulletin of the National Bank of Belgium (2003--IV)
17.9 STOCK EXCHANGE ACTIVITY
Belgian values Foreign securities 1
Prices of shares (indices year 1985= 100) 1 2
Stock exchangecapitalisation ofshares at end of
Capital traded:average persession (thou-
General yieldrate of shares(p.c.) 4 5
Price/earningsratio 4
Forward shareprices (indexyear 1985 =
Capital traded:average persession (thou-
Price index (divi-dends not rein-vested)
Return index (re-invested divi-dends)
capitalisation ofshares at end ofperiod (millionsof euro) 1
average persession (thou-sands ofeuro) 1 3
rate of shares(p.c.) 4 5
ratio prices (indexyear 1985 =100) (reinvesteddividends) 2
average persession (thou-sands of euro) 3
1993 206.9 269.1 69,881.2 38,419 2.9 15.2 139.4 10,609.8
1994 230.7 310.4 66,378.5 42,871 2.7 17.9 158.8 12,481.4
1995 225.6 313.8 73,991.3 44,906 2.9 16.7 160.5 9,303.4
1996 271.9 390.0 94,358.2 68,947 2.8 15.8 209.8 11,246.9
1997 363.8 537.1 126,480.2 105,935 2.3 19.2 314.0 16,440.3
1998 504.7 759.7 208,419.0 202,318 384.4 20,064.5
1999 521.6 797.1 184,508.7 202,146 455.8 18,319.7
2000 470.7 732.8 196,657.8 166,441 591.1 24,783.6
2001 442.1 702.9 186,258.3 169,821 562.4 12,621.0
2002 393.9 640.3 122,454.3 149,452 472.7 9,448.8
2000 November 490.9 770.1 182,166.5 160,622 632.9 18,109.0
December 477.7 749.6 196,657.6 223,239 603.4 17,189.0
2001 January 463.9 728.3 176,794.5 182,988 577.9 14,021.0
February 470.3 739.1 178,830.4 170,289 593.2 23,709.0
March 448.3 704.7 168,934.5 218,207 559.5 16,812.0
April 447.8 704.2 167,902.6 158,237 580.7 12,579.0
May 442.1 699.3 166,530.3 181,355 627.9 15,446.0
June 449.5 718.6 169,323.4 203,054 628.6 12,964.0
July 456.3 731.2 175,184.6 149,025 589.0 7,915.0
August 452.7 725.4 172,493.7 120,790 553.8 6,813.0
September 415.8 666.3 158,829.4 193,055 479.9 8,733.0
October 408.7 655.5 156,139.6 137,544 500.5 7,112.0
November 423.3 679.0 162,112.3 160,255 528.0 11,248.0
December 425.9 683.6 186,258.3 170,457 529.6 15,889.0
2002 January 437.4 702.5 167,201.2 144,699 539.4 13,947.0
February 439.3 705.8 165,990.2 143,690 538.8 10,202.0
March 441.4 709.1 165,731.8 159,786 565.6 15,691.0
April 454.6 730.6 168,118.1 151,811 550.7 11,738.0
May 452.7 731.7 162,460.8 176,291 530.9 15,375.0
June 417.9 683.9 151,526.9 195,952 488.3 12,449.0
July 378.9 621.6 136,480.9 172,546 431.8 7,989.0
August 365.4 599.5 135,780.2 120,049 433.9 5,455.0
September 342.8 562.5 114,973.3 146,031 407.3 5,700.0
October 323.9 531.7 121,127.6 133,467 389.9 5,249.0
November 340.0 558.5 124,920.1 132,434 402.5 4,343.0
December 332.5 546.2 122,454.3 117,232 393.0 5,782.0
2003 January 325.1 534.4 114,088.9 111,961 384.3 6,123.0
February 297.3 488.8 106,266.2 102,111 350.8 4,080.0
March 279.5 459.6 104,412.0 133,336 349.9 5,803.0
April 311.2 512.2 117,742.8 290,814 363.1 8,858.0
May 323.7 537.9 121,798.2 139,350 359.5 4,476.0
June 334.2 564.3 122,644.1 148,073 378.0 4,146.0
July 335.2 567.5 127,011.6 116,616 380.9 3,557.0
August 350.1 592.8 129,469.6 114,927 392.5 3,966.0
September 356.2 577.8 129,579.3 152,824 - 5,818.0
October 359.5 609.4 135,693.2 123,781 - 4,144.0
November 368.4 624.7 136,320.4 159,987 - 4,390.0
1 Source: Brussels Stock Exchange.2 Average index number for the period.3 Debentures and shares.
4 Source: Kredietbank.5 Ratio of the last net dividend paid to the end-of-month price on the Brussels Stock Exchan-
ge.
143Statistical bulletin of the National Bank of Belgium (2003--IV)
17.11 NUMBER AND INVENTORY VALUE OF COLLECTIVE INVESTMENT INSTITUTIONS GOVERNED BYBELGIAN LAW
Number (end of period) Inventory value (end of period, millions of euro)
Funds R.D. Nr.15 of 9 March1982
Pension sav-ings funds
Other unittrusts
Investmentcompanies
Total Funds R.D. Nr.15 of 9 March1982
Pension sav-ings funds
Other unittrusts
Investmentcompanies
Total
1991 0 13 4 30 47 0 2,112 357 2,395 4,864
1992 0 14 4 41 59 0 2,416 292 4,924 7,632
1993 0 14 4 48 66 0 3,117 371 10,490 13,978
1994 0 14 6 59 79 0 3,173 488 12,204 15,865
1995 0 14 6 62 82 0 3,774 759 14,182 18,715
1996 0 13 7 64 84 0 4,608 913 17,900 23,421
1997 0 13 6 79 98 0 5,825 866 26,443 33,134
1998 0 12 12 90 114 0 8,065 1,057 42,682 51,804
1999 0 12 12 96 120 0 7,960 1,948 60,434 70,342
2000 0 11 14 103 128 0 7,680 3,011 72,823 83,514
Source: CBF
N.B.: Collective investment institutions which make public issues in Belgium.
144 Statistical bulletin of the National Bank of Belgium (2003--IV)
18 CHAPTER 18: MONEY MARKET18.6 ISSUING OF THREE-MONTH TREASURY CERTIFICATES
Tender date Competitive tendering Non-competi-tive subscrip-tions (millions
Outstandingamount of de-materialised
Amount of-fered (millionsof euro)
Interest rates proposed Amountawarded (mil-lions of euro)
Maximum in-terest rateadopted
Percentagesawarded ontenders pre-
Weighted ave-rage interestrate of the ten-
tive subscrip-tions (millionsof euro) 1
amount of de-materialisedcertificates is-sued since29th Januaryof euro)
Minimum Maximumlions of euro) adopted tenders pre-
sented at themaximum rateadopted
rate of the ten-dering session
29th January1991 (in mil-lions of euro) 2
2003 28 Jan. 4,110.0 2.66 2.72 700.3 2.68 25 2.67 0.0 4,662.5
4 Feb. 4,060.0 2.63 2.70 600.4 2.65 10 2.64 0.0 5,262.9
11 Feb. 3,850.0 2.57 2.63 650.6 2.59 32 2.58 0.0 4,392.6
18 Feb. 3,900.0 2.55 2.60 300.3 2.55 56 2.55 0.0 4,692.9
25 Feb. 5,445.0 2.42 2.49 650.3 2.42 71 2.42 0.0 5,343.2
4 March 4,960.0 2.34 2.40 690.3 2.35 51 2.35 0.0 6,033.5
11 March 4,225.0 2.38 2.44 751.0 2.39 63 2.39 0.0 5,443.8
18 March 3,585.0 2.42 2.50 640.7 2.43 12 2.42 0.0 6,084.5
25 March 3,995.0 2.39 2.45 875.4 2.40 74 2.40 75.4 7,035.3
1 April 5,335.0 2.43 2.38 701.0 2.39 13 2.38 0.0 7,736.3
8 April 4,800.0 2.37 2.42 701.0 2.38 9 2.37 0.0 8,437.3
15 April 4,025.0 2.42 2.49 400.4 2.43 22 2.42 0.0 7,036.8
22 April 4,590.0 2.41 2.48 450.1 2.42 28 2.41 0.0 7,486.9
29 April 3,350.0 2.38 2.44 590.0 2.39 100 2.39 0.0 8,076.9
6 May 4,615.0 2.33 2.38 500.2 2.34 63 2.34 4.5 8,581.6
13 May 3,760.0 2.30 2.37 350.1 2.32 28 2.31 0.0 6,730.1
20 May 3,025.0 2.24 2.30 400.4 2.25 16 2.24 0.0 7,130.5
27 May 3,384.0 2.16 2.21 400.5 2.18 9 2.17 0.0 7,531.0
3 June 3,920.0 2.08 2.13 500.4 2.09 35 2.09 94.8 8,126.2
10 June 6,260.0 2.01 2.04 610.3 2.02 7 2.01 1.0 8,737.5
17 June 3,090.0 2.00 2.05 300.3 2.01 43 2.01 0.0 5,304.0
24 June 3,770.0 2.00 2.05 300.3 2.01 16 2.01 0.0 5,604.3
1 July 3,220.0 1.98 2.03 550.4 1.99 33 1.98 0.0 6,154.7
8 July 4,305.0 2.00 2.04 400.2 2.00 28 2.00 0.0 6,554.9
15 July 4,330.0 1.98 2.05 200.0 1.98 100 1.98 0.0 4,613.4
22 July 3,140.0 1.99 2.04 300.1 1.99 34 1.99 0.0 4,913.5
29 July 2,960.0 1.97 2.03 300.6 1.99 17 1.98 0.0 5,214.1
5 Aug. 4,055.0 1.99 2.05 485.0 2.00 100 2.00 0.0 5,699.1
12 Aug. 2,995.0 1.99 2.05 500.2 2.00 22 1.99 0.0 4,543.6
19 Aug. 3,425.0 1.99 2.05 220.0 1.99 100 1.99 0.0 4,763.6
26 Aug. 2,450.0 1.99 2.05 200.0 1.99 40 1.99 0.0 4,963.6
2 Sep. 3,435.0 2.01 2.07 470.0 2.01 100 2.01 0.0 5,433.6
9 Sep. 2,305.0 1.99 2.14 500.2 2.00 74 2.00 0.0 5,933.8
16 Sep. 4,040.0 1.99 2.06 300.4 2.00 32 2.00 0.0 4,427.1
23 Sep. 3,545.0 1.96 2.04 310.0 1.98 100 1.97 0.0 4,737.1
30 Sep. 2,830.0 1.95 2.02 400.2 1.97 42 1.96 0.0 5,137.3
7 Oct. 2,710.0 1.96 2.04 375.0 1.97 100 1.97 0.0 5,512.3
14 Oct. 2,240.0 1.96 2.04 300.2 1.98 70 1.97 0.0 4,061.2
21 Oct. 2,380.0 1.97 2.04 250.4 1.98 44 1.97 0.0 4,311.6
28 Oct. 1,945.0 1.96 2.04 530.3 1.98 84 1.98 0.0 4,841.9
4 Nov. 2,390.0 1.97 2.06 385.0 1.99 100 1.98 0.0 5,226.9
18 Nov. 2,270.0 1.95 2.03 140.0 1.96 100 1.96 0.0 3,961.7
25 Nov. 1,670.0 1.97 2.05 330.0 1.98 100 1.97 0.0 4,291.7
9 Dec. 1,205.0 1.97 2.05 380.0 2.00 100 1.98 0.0 4,671.7
16 Dec. 2,135.0 1.98 2.05 235.0 1.99 100 1.98 105.5 3,031.4
2004 6 Jan. 2,135.0 1.97 2.02 508.0 1.99 29 1.98 0.0 3,539.4
N.B.: This table relates solely to the dematerialised certificates which have been issued since29th January 1991 in accordance with the Ministerial Decree of 24th January 1991 either bycompetitive tendering or by non-competitive subscriptions. In the competitive tendering, allthe securities are allotted at the interest rates proposed by the subscribers (”American” meth-od). All the tenders submitted at rates below the maximum rate adopted by the Treasury are
accepted in full. Tenders submitted at the maximum rate adopted may be scaled down.
1 By means of these non-competitive subscriptions the primary dealers can subscribe, withincertain limits, for Treasury certificates at the average rate of the tendering session.
2 On the payment date.
145Statistical bulletin of the National Bank of Belgium (2003--IV)
18.7 ISSUING OF SIX-MONTH TREASURY CERTIFICATES
Auction date Competitive tendering Non-competi-tive subscrip-tions (millions
Outstandingamount of de-materialised
Amount of-fered (millionsof euro)
Interest rates proposed Amountawarded (mil-lions of euro)
Maximum in-terest rateadopted
Percentagesawarded ontenders pre-
Weighted ave-rage interestrate of the ten-
tive subscrip-tions (millionsof euro) 1
amount of de-materialisedcertificates is-sued since29th Januaryof euro)
Minimum Maximumlions of euro) adopted tenders pre-
sented at themaximum rateadopted
rate of the ten-dering session
29th January1991 (in mil-lions of euro) 2
2003 28 Jan. 3,465.0 2.59 2.64 600.4 2.59 0 2.59 50.6 4,629.6
11 Feb. 3,645.0 2.48 2.52 650.5 2.48 65 2.48 96.2 4,549.5
4 March 2,790.0 2.28 2.35 805.0 2.30 100 2.30 2.6 5,357.1
11 March 2,520.0 2.28 2.33 750.0 2.29 80 2.29 0.0 5,431.3
1 April 3,325.0 2.29 2.34 801.0 2.31 14 2.30 25.0 6,257.3
8 April 2,845.0 2.32 2.36 700.4 2.33 67 2.33 66.9 7,024.6
29 April 3,400.0 2.32 2.37 700.3 2.34 39 2.33 0.0 6,900.3
6 May 3,035.0 2.27 2.30 800.9 2.28 35 2.28 16.5 7,717.7
27 May 4,513.0 2.09 2.13 600.6 2.10 9 2.09 0.0 7,527.4
10 June 3,575.0 1.95 2.05 395.0 1.95 100 1.95 150.3 8,072.7
1 July 3,405.0 1.93 1.97 410.0 1.93 100 1.93 100.8 8,133.5
8 July 3,125.0 1.94 1.97 400.0 1.94 100 1.94 0.0 8,533.5
29 July 2,495.0 1.96 2.00 685.0 1.97 100 1.97 25.2 8,182.2
12 Aug. 2,560.0 2.03 2.06 300.7 2.04 17 2.04 5.4 6,934.0
2 Sep. 2,820.0 2.07 2.11 350.0 2.07 78 2.07 0.0 7,284.0
9 Sep. 2,155.0 2.05 2.17 400.3 2.06 37 2.06 0.0 7,684.3
30 Sep. 2,600.0 1.97 2.01 425.0 1.97 100 1.97 30.3 6,563.6
7 Oct. 2,805.0 2.00 2.04 450.0 2.04 100 2.01 0.0 7,013.6
28 Oct. 2,880.0 2.04 2.09 270.0 2.06 100 2.05 90.8 5,906.8
9 Dec. 1,885.0 2.06 2.11 420.5 2.07 44 2.07 0.0 4,909.3
2004 6 Jan. 3,850.0 1.98 2.02 1,209.0 2.00 36 2.00 0.0 5,062.2
N.B.: This table relates solely to the dematerialised certificates which have been issued since29th January 1991 in accordance with the Ministerial Decree of 24th January 1991 either bycompetitive tendering or by non-competitive subscriptions. In the competitive tendering, allthe securities are allotted at the interest rates proposed by the subscribers (”American” meth-od). All the tenders submitted at rates below the maximum rate adopted by the Treasury are
accepted in full. Tenders submitted at the maximum rate adopted may be scaled down.
1 By means of these non-competitive subscriptions the primary dealers can subscribe, withincertain limits, for Treasury certificates at the average rate of the tendering session.
2 On the payment date.
146 Statistical bulletin of the National Bank of Belgium (2003--IV)
18.8 ISSUING OF TWELVE-MONTH TREASURY CERTIFICATES
Tender date Competitive tendering Non-competi-tive subscrip-tions (millions
Outstandingamount of de-materialised
Amount of-fered (millionsof euro)
Interest rates proposed Amountawarded (mil-lions of euro)
Maximum in-terest rateadopted
Percentagesawarded ontenders pre-
Weighted ave-rage interestrate of the ten-
tive subscrip-tions (millionsof euro) 1
amount of de-materialisedcertificates is-sued since29th Januaryof euro)
Minimum Maximumlions of euro) adopted tenders pre-
sented at themaximum rateadopted
rate of the ten-dering session
29th January1991 (in mil-lions of euro) 2
2003 14 Jan. 2,950.0 2.54 2.60 500.4 2.55 36 2.55 100.1 17,495.2
21 Jan. 2,665.0 2.52 2.58 800.2 2.54 63 2.53 72.2 18,367.6
4 Feb. 2,622.0 2.47 2.52 700.4 2.49 18 2.48 92.8 19,160.8
18 Feb. 2,606.5 2.33 2.40 974.5 2.34 100 2.33 0.0 19,023.3
25 Feb. 2,427.5 2.22 2.28 650.2 2.23 27 2.22 0.0 19,673.5
18 March 2,390.0 2.36 2.43 860.0 2.37 100 2.37 196.5 18,086.2
25 March 3,025.0 2.33 2.37 625.0 2.33 100 2.33 0.0 18,711.2
15 April 2,560.0 2.39 2.44 900.3 2.42 33 2.41 0.0 17,963.6
22 April 2,270.0 2.36 2.40 850.3 2.37 61 2.37 26.3 18,840.2
13 May 3,020.0 2.15 2.20 930.0 2.17 100 2.17 174.2 17,908.8
20 May 3,054.5 2.09 2.14 687.5 2.10 100 2.10 41.4 18,637.7
3 June 3,035.0 1.99 2.04 500.9 2.00 32 2.00 375.4 19,514.0
17 June 2,017.5 1.84 1.87 700.7 1.85 20 1.84 0.0 18,835.0
24 June 2,327.0 1.85 1.88 700.7 1.86 47 1.86 225.0 19,760.7
15 July 3,175.0 1.93 1.97 680.5 1.93 41 1.93 0.0 18,798.0
22 July 2,830.0 2.00 2.04 500.6 2.01 64 2.01 76.8 19,375.4
5 Aug. 2,432.5 2.14 2.17 350.8 2.15 29 2.15 15.5 19,741.7
19 Aug. 2,454.0 2.18 2.23 700.4 2.19 21 2.18 150.9 19,075.3
26 Aug. 2,312.5 2.17 2.24 900.1 2.19 94 2.18 65.1 20,040.5
16 Sep. 2,347.5 2.12 2.17 650.2 2.14 67 2.13 0.0 19,486.6
23 Sep. 2,425.0 2.00 2.07 750.4 2.04 55 2.03 0.0 20,237.0
14 Oct. 2,462.5 2.16 2.23 700.5 2.19 33 2.18 0.0 19,761.0
21 Oct. 2,210.0 2.22 2.26 550.0 2.23 50 2.23 32.0 20,343.0
4 Nov. 2,020.0 2.24 2.29 415.5 2.26 67 2.26 0.0 20,758.5
18 Nov. 1,790.0 2.22 2.27 660.3 2.24 47 2.23 86.5 19,955.5
25 Nov. 2,145.0 2.28 2.34 500.6 2.30 21 2.29 0.0 20,456.1
16 Dec. 1,570.0 2.20 2.24 566.0 2.23 16 2.22 21.4 20,059.1
N.B.: This table relates solely to the dematerialised certificates which have been issued since29th January 1991 in accordance with the Ministerial Decree of 24th January 1991 either bycompetitive tendering or by non-competitive subscriptions. In the competitive tendering, allthe securities are allotted at the interest rates proposed by the subscribers (”American” meth-od). All the tenders submitted at rates below the maximum rate adopted by the Treasury are
accepted in full. Tenders submitted at the maximum rate adopted may be scaled down.
1 By means of these non-competitive subscriptions the primary dealers can subscribe, withincertain limits, for Treasury certificates at the average rate of the tendering session.
2 On the payment date.
147Statistical bulletin of the National Bank of Belgium (2003--IV)
18.10 TRANSACTIONS ON THE SECONDARY MARKET IN DEMATERIALISED SECURITIES RECORDED BYTHE NATIONAL BANK OF BELGIUM’S SECURITIES CLEARING SYSTEM
(averages per period of the daily data)
Treasury certificates Linear bonds 1 Treasury bills and certificates of cre-dit
Total
Number of trans-actions
Amount (millionsof euro)
Number of trans-actions
Amount (millionsof euro)
Number of trans-actions
Amount (millionsof euro)
Number of trans-actions
Amount (millionsof euro)
(1) (2) (3) (4) (5) (6) (7) = (1) + (3) + (5) (8) = (2) + (4) + (6)
1994 116 1,765 642 4,836 7 42 765 6,644
1995 110 1,889 620 6,329 14 89 743 8,307
1996 67 1,418 578 6,894 22 124 667 8,436
1997 115 2,407 471 7,112 39 409 625 9,926
1998 107 1,715 340 8,272 48 585 495 10,573
1999 84 1,784 287 6,831 50 363 421 8,978
2000 61 1,490 327 7,738 71 504 459 9,731
2001 77 1,720 444 9,201 77 508 598 11,428
2002 82 1,897 553 9,435 82 526 718 11,858
2003 90 2,725 583 11,507 89 448 762 14,680
2002 December 86 3,036 592 12,226 77 481 755 15,742
2003 January 87 2,414 592 12,652 71 436 750 15,502
February 91 2,097 621 11,369 87 491 799 13,957
March 90 2,705 688 15,160 92 483 870 18,347
April 81 2,431 631 12,041 100 467 812 14,940
May 97 4,192 595 11,101 96 464 788 15,757
June 102 3,990 609 12,276 98 499 809 16,765
July 86 2,854 590 11,462 90 410 766 14,725
August 94 1,966 500 8,948 83 390 678 11,304
September 94 2,431 544 11,273 92 452 730 14,156
October 99 2,763 579 11,635 86 429 764 14,827
November 97 2,831 546 10,676 83 423 726 13,929
December 62 2,023 503 9,488 84 434 649 11,946
N.B.: Excluding the National Bank of Belgium’s open-market transactions.
1 Including, from 19 October 1992, transactions in ”corpus” and ”coupons” of split linear bonds.
148 Statistical bulletin of the National Bank of Belgium (2003--IV)
18.11 HOLDERSHIP OF DEMATERIALISED TREASURY CERTIFICATES
(end of period, millions of euro)
Belgium Foreign countries Grand to-tal
MFI Other fi-nancial
Generalgovern-
Other Total European Union, excluding Belgium Rest of the world Total
Grand to-tal
Creditinstitu-
Other 1
Other fi-nancialinstitu-tions
Generalgovern-ment
Other Total
MUMS Other member-states Banks Otherclients
Total
Creditinstitu-tions
Other institu-tions
ment
MFI Otherclients
MFI Otherclients
Banks Otherclients
1993 16,091 3,937 2,454 1,081 23,562 13,642 37,204
1994 24,762 2,442 1,502 880 29,586 18,334 47,920
1995 19,807 3,225 1,220 1,257 25,508 12,705 38,213
1996 21,418 2,856 2,925 1,683 28,882 14,291 43,173
1997 16,443 3,580 4,995 1,044 26,061 16,458 42,519
1998 14,509 1,269 2,533 1,815 20,126 16,527 36,654
1999 10,594 476 386 2,661 2,117 16,234 9,745 70 3,267 341 13,423 29,657
2000 9,119 274 1,651 1,753 938 13,735 7,700 97 4,938 7 12,742 26,477
2001 6,643 399 412 4,745 837 13,036 7,568 184 1,920 389 4,651 7 14,719 27,755
2002 6,216 270 281 6,384 618 13,769 7,450 151 2,681 165 3,467 23 13,937 27,706
2001 III 11,313 157 316 3,267 588 15,641 6,795 144 1,324 76 6,084 11 14,434 30,075
IV 6,643 399 412 4,745 837 13,036 7,568 184 1,920 389 4,651 7 14,719 27,755
2002 I 7,891 175 260 3,040 825 12,191 7,361 246 3,570 369 5,415 55 17,016 29,207
II 6,850 223 322 2,606 946 10,948 9,614 317 2,518 379 8,398 74 21,298 32,247
III 6,775 197 419 3,672 1,053 12,117 7,719 483 4,602 398 5,683 144 19,029 31,146
IV 6,216 270 281 6,384 618 13,769 7,450 151 2,681 165 3,467 23 13,937 27,706
2003 I 7,416 141 871 2,441 930 11,798 8,604 319 5,461 95 4,877 29 19,384 31,182
II 7,120 85 645 1,161 398 9,409 11,015 541 5,084 19 6,703 35 23,398 32,807
III p 7,429 37 1,003 1,700 390 10,558 9,563 253 4,831 28 5,705 5 20,386 30,945
N.B.: Based on the compulsory reporting by credit institutions which have obtained permission to keep accounts for dematerialised securities of the public debt (Art. 49 of the Royal Decree of 23January 1991 amended by Art. 1 of the Royal Decree of 11 June 2001).
1 National Bank of Belgium and the monetary collective investment institutions . Up to and including December 1998, those MFI were included in ’Other financial institutions’.Bibliographical reference: Bulletin de la Banque Nationale de Belgique, LXVIth year, number 6, juni 1991. Statistical bulletin of the National Bank of Belgium, 1999-III, p.13. Statistical bulletinof the National Bank of Belgium, 2001-IV, p.21.
149Statistical bulletin of the National Bank of Belgium (2003--IV)
18.12 HOLDERSHIP OF DEMATERIALISED TREASURY BILLS AND CERTIFICATES OF DEPOSIT ISSUEDIN EURO
18.12.1 HOLDERSHIP OF DEMATERIALISED TREASURY BILLS ISSUED IN EURO
(end of period, millions of euro)
Belgium Foreign countries Total
MFI Other fi-nancial
Generalgovern-
Other Total European Union, excluding Belgium Rest of the world Total
Total
Creditinstitu-
Other 1
Other fi-nancialinstitu-tions
Generalgovern-ment
Other Total
MUMS Other member-states Banks Otherclients
Total
Creditinstitu-tions
Other institu-tions
ment
MFI Otherclients
MFI Otherclients
Banks Otherclients
1998 3,669 731 984 1,644 7,028 3,286 10,314
1999 4,455 183 2,295 1,103 1,128 9,164 3,689 101 785 224 4,799 13,963
2000 4,074 348 2,320 1,489 2,206 10,437 4,583 607 1,077 134 6,402 16,839
2001 3,067 226 2,504 1,740 1,933 9,470 4,097 2,168 1,517 88 191 113 8,174 17,644
2002 2,394 378 2,484 2,103 1,689 9,048 5,731 1,354 546 13 1,954 324 9,922 18,970
2001 III 2,914 321 2,618 1,572 2,230 9,655 4,105 2,025 471 16 1,143 176 7,936 17,591
IV 3,067 226 2,504 1,740 1,933 9,470 4,097 2,168 1,517 88 191 113 8,174 17,644
2002 I 2,800 226 2,038 1,751 1,493 8,308 4,017 1,281 1,580 0 747 266 7,891 16,199
II 3,360 240 1,831 1,439 1,750 8,621 4,672 488 625 717 961 221 7,685 16,306
III 2,831 334 1,936 1,987 1,629 8,717 5,365 1,481 942 3 1,451 237 9,479 18,196
IV 2,394 378 2,484 2,103 1,689 9,048 5,731 1,354 546 13 1,954 324 9,922 18,970
2003 I 1,978 286 2,233 2,136 1,710 8,343 5,387 1,539 649 0 1,957 703 10,235 18,578
II 2,246 259 2,486 2,256 1,544 8,791 5,341 1,275 653 5 1,891 675 9,841 18,632
III 1,870 304 2,214 2,792 1,659 8,839 5,335 1,154 791 600 2,183 244 10,307 19,146
N.B.: Based on the compulsory reporting to the National Bank of Belgium by the credit institutions which obtained permission to keep accounts for dematerialised treasury bills and certificates ofcredit (Art. 8 of the Royal Decree of 14 Octobre 1991 amended by Art. 1 of the Royal Decree of 11 June 2001).
1 National Bank of Belgium and the monetary collective investment institutions . Up to and including December 1998, those MFI were included in ’Other financial institutions’.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2001-IV, p.21.
18.12.2 HOLDERSHIP OF DEMATERIALISED CERTIFICATES OF DEPOSIT ISSUED IN EURO
Belgium Foreign countries Total
MFI Other fi-nancial
Generalgovern-
Other Total European Union, excluding Belgium Rest of the world Total
Total
Creditinstitu-
Other 1
Other fi-nancialinstitu-tions
Generalgovern-ment
Other Total
MUMS Other member-states Banks Otherclients
Total
Creditinstitu-tions
Other institu-tions
ment
MFI Otherclients
MFI Otherclients
Banks Otherclients
1998 563 200 5 551 1,319 1,788 3,107
1999 2,319 5 126 9 244 2,703 1,355 2 1,087 0 2,444 5,147
2000 2,200 7 145 10 201 2,563 3,411 11 1,861 1 5,284 7,847
2001 1,567 8 234 14 308 2,131 801 78 577 6 612 0 2,075 4,206
2002 1,896 22 86 10 243 2,257 898 866 200 10 530 0 2,504 4,761
2001 III 1,896 25 184 8 190 2,303 826 28 279 0 374 0 1,507 3,810
IV 1,567 8 234 14 308 2,131 801 78 577 6 612 0 2,075 4,206
2002 I 1,671 6 153 29 359 2,218 1,434 575 416 0 655 0 3,080 5,298
II 1,381 15 123 1 387 1,907 1,013 17 506 699 654 5 2,895 4,802
III 1,964 14 135 7 409 2,529 1,207 869 413 0 564 2 3,055 5,584
IV 1,896 22 86 10 243 2,257 898 866 200 10 530 0 2,504 4,761
2003 I 1,788 0 87 8 286 2,169 893 1,093 665 0 448 0 3,099 5,268
II 1,507 0 83 8 207 1,805 611 704 667 0 324 5 2,311 4,116
III 1,519 3 90 7 369 1,988 226 395 62 0 156 0 839 2,827
N.B.: Based on the compulsory reporting to the National Bank of Belgium by the credit institutions which obtained permission to keep accounts for dematerialised treasury bills and certificates ofcredit (Art. 8 of the Royal Decree of 14 Octobre 1991 amended by Art. 1 of the Royal Decree of 11 June 2001).
1 National Bank of Belgium and the monetary collective investment institutions . Up to and including December 1998, those MFI were included in ’Other financial institutions’.Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2001-IV, p.21.
150 Statistical bulletin of the National Bank of Belgium (2003--IV)
18.13 HOLDERSHIP OF DEMATERIALISED TREASURY BILLS AND CERTIFICATES OF DEPOSIT ISSUEDIN CURRENCIES OTHER THAN THE EURO
18.13.1 HOLDERSHIP OF DEMATERIALISED TREASURY BILLS ISSUED IN CURRENCIES OTHER THANTHE EURO
(end of period, millions of euro)
Belgium Foreign countries Total
MFI Other fi-nancial
Generalgovern-
Other Total European Union, excluding Belgium Rest of the world Total
Total
Creditinstitu-
Other 1
Other fi-nancialinstitu-tions
Generalgovern-ment
Other Total
MUMS Other member-states Banks Otherclients
Total
Creditinstitu-tions
Other institu-tions
ment
MFI Otherclients
MFI Otherclients
Banks Otherclients
1998 10 0 0 12 22 478 478 500
1999 70 0 7 0 2 79 203 0 1,130 0 1,333 1,412
2000 214 0 107 0 1 322 769 0 2,005 0 2,774 3,096
2001 14 0 0 0 102 116 1,322 0 1,631 0 2,305 8 5,266 5,382
2002 64 0 0 0 50 114 1,395 0 1,594 0 2,088 405 5,482 5,596
2001 III 335 0 0 0 2 337 937 0 901 0 1,525 4 3,367 3,704
IV 14 0 0 0 102 116 1,322 0 1,631 0 2,305 8 5,266 5,382
2002 I 22 0 0 0 86 108 1,306 0 1,447 0 2,569 224 5,546 5,654
II 40 0 0 0 82 122 1,685 0 769 0 3,014 52 5,519 5,641
III 156 0 0 0 54 210 1,366 0 1,231 0 2,500 143 5,240 5,450
IV 64 0 0 0 50 114 1,395 0 1,594 0 2,088 405 5,482 5,596
2003 I 36 0 0 0 7 43 1,826 0 1,782 0 2,596 521 6,725 6,768
II 83 0 1 0 113 198 1,640 22 1,980 0 2,937 530 7,109 7,307
III 392 0 4 0 172 568 2,086 82 2,478 0 2,708 0 7,354 7,922
N.B.: Based on the compulsory reporting to the National Bank of Belgium by the credit institutions which obtained permission to keep accounts for dematerialised treasury bills and certificates ofcredit (Art. 8 of the Royal Decree of 14 Octobre 1991amended by Art. 1 of the Royal Decree of 11 June 2001).
1 National Bank of Belgium and the monetary collective investment institutions . Up to and including December 1998, those MFI were included in ’Other financial institutions’.
Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2001-IV, p.21.
18.13.2 HOLDERSHIP OF DEMATERIALISED CERTIFICATES OF DEPOSIT ISSUED IN CURRENCIES OTHERTHAN THE EURO
(end of period, millions of euro)
Belgium Foreign countries Total
MFI Other fi-nancial
Generalgovern-
Other Total European Union, excluding Belgium Rest of the world Total
Total
Creditinstitu-
Other 1
Other fi-nancialinstitu-tions
Generalgovern-ment
Other Total
MUMS Other member-states Banks Otherclients
Total
Creditinstitu-tions
Other institu-tions
ment
MFI Otherclients
MFI Otherclients
Banks Otherclients
1998 1 0 0 5 6 255 261
1999 14 0 0 0 100 114 840 0 463 16 1,319 1,433
2000 10 0 0 0 127 137 1,521 0 1,923 12 3,456 3,593
2001 28 0 0 0 166 194 782 0 759 0 2,959 37 4,537 4,731
2002 64 0 6 0 21 91 344 0 1,167 0 2,905 24 4,440 4,531
2001 III 60 0 0 0 221 281 842 49 954 0 2,404 12 4,261 4,542
IV 28 0 0 0 166 194 782 0 759 0 2,959 37 4,537 4,731
2002 I 30 0 4 0 131 165 842 0 386 0 2,730 22 3,980 4,145
II 3 0 0 0 11 14 280 0 235 0 3,143 16 3,674 3,688
III 25 0 0 0 18 43 269 0 397 0 2,616 30 3,312 3,355
IV 64 0 6 0 21 91 344 0 1,167 0 2,905 24 4,440 4,531
2003 I 13 0 2 0 0 15 284 0 714 0 2,239 19 3,256 3,271
II 22 0 2 0 10 35 312 0 504 0 2,309 12 3,137 3,172
III 4 0 2 0 0 6 252 0 434 0 2,650 12 3,349 3,355
N.B.: Based on the compulsory reporting to the National Bank of Belgium by the credit institutions which obtained permission to keep accounts for dematerialised treasury bills and certificates ofcredit (Art. 8 of the Royal Decree of 14 Octobre 1991amended by Art. 1 of the Royal Decree of11 June 2001).
1 National Bank of Belgium and the monetary collective investment institutions . Up to and including December 1998, those MFI were included in ’Other financial institutions’.
Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 2001-IV, p.21.
151Statistical bulletin of the National Bank of Belgium (2003--IV)
19 CHAPTER 19: INTEREST RATES19.1 OFFICIAL INTEREST RATES19.1.2 MAIN INTEREST RATES OF THE MONETARY POLICY OF THE EUROSYSTEM
(yearly percentages, dates of change)
Interest rate of themain refinancing ope-rations 1
Interest rate of the lon-ger-term refinancingoperations 2
Interest rate of themarginal lending facili-ties
Interest rate of the de-posit facilities
p.m. 2003 7 January 2.84 - 3.75 1.75
14 January 2.81 - 3.75 1.75
29 January - 2.80 3.75 1.75
4 February 2.79 - 3.75 1.75
11 February 2.78 - 3.75 1.75
25 February 2.76 - 3.75 1.75
26 February - 2.51 3.75 1.75
3 March 2.75 - 3.75 1.75
7 March - - 3.50 1.50
11 March 2.63 - 3.50 1.50
18 March 2.59 - 3.50 1.50
24 March 2.55 - 3.50 1.50
1 April 2.54 - 3.50 1.50
8 April 2.53 - 3.50 1.50
15 April 2.54 - 3.50 1.50
22 April 2.55 - 3.50 1.50
6 May 2.54 - 3.50 1.50
20 May 2.58 - 3.50 1.50
27 May 2.61 - 3.50 1.50
28 May - 2.27 3.50 1.50
3 June 2.50 - 3.50 1.50
6 June 2.11 - 3.00 1.00
17 June 2.12 - 3.00 1.00
25 June - 2.12 3.00 1.00
1 July 2.11 - 3.00 1.00
8 July 2.10 - 3.00 1.00
15 July 2.09 - 3.00 1.00
22 July 2.08 - 3.00 1.00
29 July 2.07 - 3.00 1.00
30 July - 2.10 3.00 1.00
5 August 2.06 - 3.00 1.00
26 August 2.08 - 3.00 1.00
27 August - 2.13 3.00 1.00
23 September 2.07 - 3.00 1.00
24 September - 2.12 3.00 1.00
30 September 2.06 - 3.00 1.00
14 October 2.05 - 3.00 1.00
29 October - 2.14 3.00 1.00
10 November 2.04 - 3.00 1.00
17 November 2.02 - 3.00 1.00
26 November - 2.13 3.00 1.00
2 December 2.03 - 3.00 1.00
9 December 2.01 - 3.00 1.00
16 December 2.02 - 3.00 1.00
17 December - 2.14 3.00 1.00
22 December 2.08 - 3.00 1.00
30 December 2.09 - 3.00 1.00
2004 5 January 2.04 - 3.00 1.00
1 It is the rate of the weekly tender with a maturity of two weeks.For the variable tender rate is it the weighted average rate. Thedates mentioned correspond to the data of the allocations.
2 It is the rate of the monthly tender with a maturity of three months.The dates mentioned correspond to the dates of the allocations.
Bibliographical reference: Statistical bulletin of the National Bankof Belgium, 1999-I, p 29.
152 Statistical bulletin of the National Bank of Belgium (2003--IV)
19.2 REFERENCE INTEREST RATES ON THE SECONDARY MARKET FOR TREASURY CERTIFICATESISSUED BY THE BELGIAN GOVERNMENT
(yearly percentages, daily averages)
1 month 2 months 3 months 4 months 1 6 months 12 months
1994 5.57 5.64 5.68 5.73 5.80 6.02
1995 4.69 4.74 4.78 4.83 4.90 5.14
1996 3.20 3.20 3.21 3.23 3.25 3.33
1997 3.38 3.41 3.43 3.45 3.49 3.60
1998 3.50 3.52 3.55 3.56 3.58 3.69
1999 2.72 2.75 2.78 2.82 2.87 3.03
2000 4.01 4.13 4.24 4.30 4.41 4.65
2001 4.17 4.17 4.15 4.11 4.05 3.98
2002 3.17 3.20 3.21 3.22 3.24 3.36
2003 2.23 2.23 2.22 2.21 2.19 2.21
2002 December 2.75 2.79 2.79 2.78 2.75 2.73
2003 January 2.73 2.74 2.72 2.69 2.64 2.54
February 2.69 2.63 2.57 2.52 2.45 2.37
March 2.46 2.44 2.42 2.39 2.34 2.29
April 2.43 2.44 2.43 2.40 2.36 2.33
May 2.44 2.36 2.31 2.26 2.21 2.15
June 2.08 2.07 2.05 2.02 1.96 1.90
July 2.04 2.02 2.02 2.01 1.98 1.97
August 2.00 2.03 2.04 2.05 2.06 2.15
September 2.02 2.04 2.04 2.05 2.06 2.09
October 1.98 2.00 2.03 2.03 2.06 2.17
November 1.95 2.01 2.03 2.04 2.09 2.28
December 1.98 2.00 2.02 2.03 2.06 2.25
1 The certificates of deposit issued by the National Bank of Belgium bear an interest rate which, depending on the series, is revised every two or every four months in accordance with the indicativeinterest rates on the secondary market for Treasury certificates. Consequently, the interest rate on the Treasury certificates whose remaining period until the maturity date is closest to 120 calendardays is shown at the reference interest rates of the secondary market for Treasury certificates.
Bibliographical reference: Bulletin de la Banque Nationale de Belgique, LXVIth year, number 5, May 1991.
153Statistical bulletin of the National Bank of Belgium (2003--IV)
19.3 EONIA AND EURIBOR
(yearly percentages, daily data, daily averages)
EONIA EURIBOR 1EONIA
1 week 1 month 2 months 3 months 4 months 5 months 6 months 7 months 8 months 9 months 10months
11months
12months
1999 2.74 2.820 2.866 2.917 2.966 3.006 3.038 3.059 3.079 3.099 3.120 3.142 3.166 3.189
2000 4.12 4.171 4.239 4.321 4.397 4.453 4.507 4.555 4.595 4.638 4.682 4.718 4.753 4.789
2001 4.39 4.370 4.335 4.297 4.267 4.225 4.191 4.159 4.135 4.116 4.101 4.093 4.089 4.086
2002 3.29 3.302 3.306 3.313 3.320 3.329 3.340 3.354 3.370 3.390 3.413 3.437 3.465 3.494
2002 Dec. 3.09 3.016 2.980 2.955 2.941 2.919 2.905 2.892 2.882 2.875 2.870 2.870 2.870 2.872
2003 Jan. 2.79 2.854 2.855 2.846 2.832 2.808 2.783 2.758 2.746 2.735 2.723 2.715 2.708 2.705
Feb. 2.76 2.818 2.781 2.728 2.693 2.655 2.614 2.583 2.567 2.552 2.535 2.524 2.516 2.509
March 2.75 2.665 2.601 2.560 2.530 2.496 2.473 2.451 2.440 2.431 2.422 2.418 2.414 2.411
April 2.56 2.574 2.576 2.556 2.533 2.506 2.487 2.469 2.459 2.452 2.448 2.446 2.445 2.447
May 2.56 2.614 2.520 2.439 2.401 2.361 2.333 2.308 2.295 2.283 2.272 2.262 2.255 2.252
June 2.21 2.217 2.177 2.164 2.152 2.126 2.103 2.084 2.066 2.051 2.038 2.027 2.019 2.014
July 2.08 2.120 2.131 2.132 2.130 2.118 2.106 2.093 2.083 2.077 2.074 2.073 2.074 2.076
Aug. 2.10 2.108 2.125 2.135 2.143 2.154 2.167 2.174 2.183 2.199 2.217 2.237 2.259 2.280
Sep. 2.02 2.106 2.126 2.138 2.147 2.163 2.172 2.178 2.186 2.195 2.205 2.221 2.239 2.258
Oct. 2.01 2.083 2.100 2.117 2.144 2.155 2.163 2.173 2.190 2.209 2.232 2.258 2.281 2.303
Nov. 1.97 2.062 2.087 2.156 2.159 2.181 2.204 2.224 2.252 2.283 2.314 2.347 2.377 2.410
Dec. 2.06 2.082 2.131 2.139 2.146 2.164 2.179 2.200 2.223 2.250 2.278 2.311 2.345 2.381
2003 1 Dec. 2.05 2.083 2.155 2.154 2.160 2.188 2.217 2.243 2.286 2.329 2.373 2.417 2.457 2.503
2 Dec. 2.05 2.079 2.153 2.153 2.159 2.187 2.217 2.243 2.283 2.329 2.375 2.418 2.455 2.503
3 Dec. 2.04 2.067 2.149 2.153 2.159 2.178 2.207 2.231 2.266 2.312 2.355 2.397 2.437 2.483
4 Dec. 2.04 2.065 2.148 2.153 2.159 2.184 2.212 2.235 2.274 2.320 2.359 2.399 2.445 2.488
5 Dec. 2.04 2.064 2.146 2.151 2.154 2.174 2.194 2.214 2.247 2.288 2.319 2.362 2.402 2.444
8 Dec. 2.03 2.063 2.142 2.148 2.152 2.163 2.175 2.192 2.216 2.248 2.278 2.311 2.347 2.385
9 Dec. 2.03 2.058 2.138 2.141 2.149 2.163 2.174 2.193 2.216 2.248 2.276 2.309 2.346 2.382
10 Dec. 2.04 2.058 2.136 2.143 2.149 2.168 2.183 2.204 2.228 2.263 2.299 2.334 2.373 2.410
11 Dec. 2.04 2.059 2.135 2.142 2.150 2.172 2.187 2.205 2.238 2.269 2.306 2.343 2.376 2.415
12 Dec. 2.05 2.063 2.135 2.142 2.148 2.164 2.181 2.202 2.222 2.244 2.273 2.304 2.331 2.373
15 Dec. 2.04 2.064 2.132 2.139 2.146 2.166 2.183 2.206 2.225 2.247 2.276 2.307 2.336 2.371
16 Dec. 2.03 2.068 2.132 2.139 2.145 2.161 2.174 2.194 2.212 2.232 2.259 2.286 2.320 2.353
17 Dec. 1.88 2.001 2.123 2.134 2.144 2.161 2.173 2.195 2.210 2.229 2.255 2.283 2.317 2.349
18 Dec. 1.71 2.010 2.119 2.131 2.141 2.155 2.165 2.184 2.200 2.213 2.231 2.257 2.290 2.312
19 Dec. 1.62 2.048 2.117 2.132 2.142 2.156 2.164 2.183 2.201 2.219 2.234 2.263 2.297 2.322
22 Dec. 1.89 2.103 2.121 2.132 2.140 2.157 2.164 2.183 2.200 2.219 2.236 2.264 2.296 2.326
23 Dec. 2.46 2.103 2.121 2.132 2.140 2.157 2.164 2.183 2.200 2.219 2.236 2.264 2.296 2.326
24 Dec. 2.28 2.220 2.126 2.133 2.142 2.154 2.165 2.181 2.199 2.220 2.240 2.270 2.303 2.330
25 Dec. - - - - - - - - - - - - - -
26 Dec. - - - - - - - - - - - - - -
29 Dec. 2.33 2.245 2.124 2.132 2.142 2.152 2.163 2.177 2.192 2.205 2.219 2.245 2.274 2.304
30 Dec. 2.22 2.104 2.105 2.116 2.126 2.143 2.154 2.174 2.191 2.204 2.225 2.250 2.280 2.311
31 Dec. 2.32 2.093 2.101 2.114 2.124 2.139 2.149 2.168 2.182 2.201 2.217 2.244 2.273 2.305
1 EURIBOR is an acronym for EURo Inter Bank Offered Rate. It is constituted of a simpleaverage of the offered prime rate, corrected for the extreme values, from a panel of 57banks inside the eurozone. This average is computed at 11 AM (Brussels time).
Bibliographical reference: Statistical bulletin of the National Bank of Belgium, 1999-I, p29-30.
154 Statistical bulletin of the National Bank of Belgium (2003--IV)
19.4 DEBTOR INTEREST RATES IN NATIONAL CURRENCY OF BELGIAN CREDITINSTITUTIONS
(weighted yearly percentages, end of period)
Short-term credit Long-term credit
Overdrafts 1 Fixed-term advan-ces
Loans subject toflat-rate charges 1
Investment cre-dits 1
Mortgage loans 1
1994 8.79 6.26 12.55 9.24 8.81
1995 7.75 4.54 10.66 7.34 6.63
1996 7.02 4.01 7.48 6.29 5.64
1997 7.26 4.76 7.59 6.49 5.88
1998 7.27 4.05 6.67 5.12 5.01
1999 6.95 4.32 7.28 6.51 6.09
2000 8.76 5.60 7.81 6.56 6.79
2001 7.78 4.13 7.05 6.36 5.93
2002 7.54 3.74 7.10 6.00 5.41
2003 6.81 3.02 6.65 6.34 5.12
2002 December 7.54 3.74 7.10 6.00 5.41
2003 January 7.53 3.69 6.93 5.91 5.18
February 7.42 3.34 6.85 5.88 5.16
March 7.10 3.24 6.76 6.01 5.08
April 7.09 3.34 6.75 5.95 5.08
May 7.10 3.05 6.74 5.80 5.07
June 6.81 2.90 6.73 5.58 4.74
July 6.81 2.94 6.75 6.06 4.67
August 6.79 3.02 6.75 6.12 4.70
September 6.80 2.90 6.74 6.03 5.09
October 6.80 3.01 6.74 6.36 5.10
November 6.82 3.07 6.73 6.40 5.12
December 6.81 3.02 6.65 6.34 5.12
N.B.: Weighted averages of the interest rates on the basis of a survey carried out among themain credit institutions. The weighting is based on the outstanding amount of the balance-sheet heading from the bookkeeping statement (Presentation A) submitted by the credit insti-tutions, showing the reference contract for each of the interest rates mentioned.
1 As a result of an adjustment of the reference contract, the interest rate mentioned is no lon-ger entirely comparable from January 1996 onwards.
Bibliographical references: Bulletin de la Banque Nationale de Belgique, LXIXth year, num-ber 9, September 1994. Bulletin statistique de la Banque Nationale de Belgique, 1996-II.
155Statistical bulletin of the National Bank of Belgium (2003--IV)
2
3
4
5
6
7
8
9
2000 20012
3
4
5
6
7
8
9
2000 2001
2
3
4
5
6
7
8
9
2000 2001
2
3
4
5
6
7
8
9
2000 20012
3
4
5
6
7
8
9
2000 2001
2
3
4
5
6
7
8
9
2002 20032
3
4
5
6
7
8
9
2002 2003
2
3
4
5
6
7
8
9
2002 2003
2
3
4
5
6
7
8
9
2002 20032
3
4
5
6
7
8
9
2002 2003
(weighted yearly percentages, end of period)
OVERDRAFTS LOANS SUBJECT TO FLAT-RATE CHARGES
FIXED-TERM ADVANCES INVESTMENT CREDITS
MORTGAGE LOANS
19.4 DEBTOR INTEREST RATES IN NATIONAL CURRENCY OF BELGIAN CREDIT INSTITUTIONS
N.B.: Weighted averages of the interest rates on the basis of a surveycarried out among the main credit institutions. The weighting is based on the outstanding amount of the balance-sheet heading from the bookkeeping statement (Scheme A) submitted by the credit institutions,showing the reference contract for each of the interest rates mentioned.
Bibliographical references: Bulletin de la Banque Nationale de Belgique,LXIXth year, number 9, September 1994. Bulletin statistique de la Banque Nationale de Belgique, 1996-II, p. 11-12.
156 Statistical bulletin of the National Bank of Belgium (2003--IV)
19.5 CREDITOR INTEREST RATES IN NATIONAL CURRENCY OF BELGIAN CREDITINSTITUTIONS
(weighted yearly percentages, end of period)
Sight deposits Regulated sav-ings deposits 1
Time deposits NotesSight deposits Regulated sav-ings deposits 1
at 15 days at 3 months at 3 years at 1 year at 5 years
1994 0.81 4.62 4.31 4.52 7.06 5.51 7.50
1995 0.72 3.82 3.00 3.16 4.63 3.63 5.50
1996 0.61 2.84 2.31 2.51 3.83 2.84 4.72
1997 0.58 2.84 2.85 3.03 4.36 3.51 4.67
1998 0.56 2.65 2.61 2.75 3.12 2.92 3.38
1999 0.53 2.58 2.41 2.71 4.42 3.50 4.70
2000 0.54 2.64 3.80 3.99 4.52 4.32 4.58
2001 0.53 2.64 2.44 2.61 3.72 2.85 4.00
2002 0.54 2.66 2.07 2.18 3.06 2.57 3.54
2003 0.33 2.13 1.21 1.46 2.67 1.90 3.24
2002 December 0.54 2.66 2.07 2.18 3.06 2.57 3.54
2003 January 0.54 2.66 2.02 2.14 2.76 2.32 3.19
February 0.53 2.61 1.94 1.93 2.43 2.12 2.91
March 0.53 2.59 1.72 1.87 2.40 2.05 2.87
April 0.53 2.39 1.73 1.87 2.65 2.05 3.10
May 0.53 2.36 1.58 1.60 2.07 1.81 2.60
June 0.52 2.35 1.34 1.49 1.81 1.58 2.33
July 0.34 2.13 1.31 1.44 2.05 1.57 2.62
August 0.34 2.13 1.29 1.48 2.59 1.76 3.05
September 0.34 2.13 1.23 1.48 2.59 1.76 3.05
October 0.34 2.13 1.21 1.51 2.69 1.89 3.22
November 0.34 2.13 1.20 1.50 2.69 1.90 3.24
December 0.33 2.13 1.21 1.46 2.67 1.90 3.24
N.B.: Weighted averages of the interest rates on the basis of a survey carried out among themain credit institutions. The weighting is based on the outstanding amount of the balance-sheet heading from the bookkeeping statement (Presentation A) submitted by the credit insti-tutions, showing the reference contract for each of the interest rates mentioned.
1 As a result of an adjustment of the reference contract, the interest rate mentioned is no lon-ger entirely comparable from January 1996 onwards.
Bibliographical references: Bulletin de la Banque Nationale de Belgique, LXIXth year, num-ber 9, September 1994. Bulletin statistique de la Banque Nationale de Belgique, 1996-II.
157Statistical bulletin of the National Bank of Belgium (2003--IV)
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19.5 CREDIT INTEREST RATES IN NATIONAL CURRENCY OF BELGIAN CREDIT INSTITUTIONS(weighted yearly percentages, end of period)
SIGHT DEPOSITS TIME DEPOSITS AT 15 DAYS
REGULATED SAVINGS DEPOSITS TIME DEPOSITS AT 3 MONTHS
NOTES AT 1 YEAR TIME DEPOSITS AT 3 YEARS
NOTES AT 5 YEARSN.B.: Weighted averages of the interest rates on the basis of a surveycarried out among the main credit institutions. The weighting is based on the outstanding amount of the balance-sheet heading from the bookkeeping statement (Scheme A) submitted by the credit institutions,showing the reference contract for each of the interest rates mentioned.
Bibliographical references: Bulletin de la Banque Nationale de Belgique,LXIXth year, number 9, September 1994. Bulletin statistique de la Banque Nationale de Belgique, 1996-II, p. 11-12.
158 Statistical bulletin of the National Bank of Belgium (2003--IV)
19.6 LONG-TERM YIELD RATES ON THE BELGIAN SECONDARY MARKET FOR BONDS ISSUED BY THEBELGIAN PUBLIC SECTOR
(yearly percentages, daily averages)
Reference rates by maturity Gross interestrate of reference
1 year 2 years 3 years 4 years 5 years 10 years 20 years
Gross interestrate of referenceloan 1
1998 3.69 3.86 4.02 4.16 4.29 4.77 5.18 4.75
1999 3.03 3.39 3.70 3.92 4.10 4.80 5.36 4.75
2000 4.65 4.88 5.07 5.21 5.30 5.59 5.85 5.59
2001 3.98 4.13 4.30 4.46 4.61 5.11 5.60 5.13
2002 3.36 3.72 4.03 4.25 4.43 4.98 5.35 4.98
2003 2.21 2.53 2.84 3.12 3.37 4.17 4.79 4.18
2002 December 2.73 2.96 3.22 3.51 3.75 4.48 4.97 4.46
2003 January 2.54 2.74 2.98 3.27 3.51 4.30 4.81 4.28
February 2.37 2.56 2.76 2.99 3.23 4.06 4.71 4.11
March 2.29 2.53 2.77 3.03 3.28 4.10 4.75 4.15
April 2.33 2.60 2.88 3.15 3.41 4.24 4.86 4.29
May 2.15 2.35 2.57 2.82 3.07 3.92 4.61 3.95
June 1.90 2.10 2.31 2.56 2.81 3.72 4.47 3.74
July 1.97 2.28 2.58 2.88 3.16 4.04 4.75 4.06
August 2.15 2.58 2.97 3.27 3.50 4.21 4.81 4.22
September 2.09 2.53 2.92 3.24 3.49 4.24 4.86 4.25
October 2.17 2.61 3.00 3.32 3.57 4.32 4.91 4.31
November 2.28 2.74 3.15 3.48 3.73 4.45 4.97 4.43
December 2.25 2.69 3.09 3.42 3.67 4.40 4.91 4.38
1 Benchmarks:OLO 9.00 % 1991/2003 from 23/03/93 to 11/01/94OLO 7.25 % 1993/2004 from 12/01/94 to 17/11/94OLO 7.75 % 1994/2004 from 18/11/94 to 24/04/95OLO 6.50 % 1994/2005 from 25/04/95 to 09/02/96OLO 7.00 % 1995/2006 from 10/02/96 to 09/01/97OLO 6.25 % 1996/2007 from 10/01/97 to 21/01/98OLO 5.75 % 1997/2008 from 22/01/98 to 31/01/99OLO 3.75 % 1999/2009 from 01/02/99 to 20/01/00OLO 5.75 % 2000/2010 from 21/01/00 to 21/01/01OLO 5.00 % 2001/2011 from 22/01/01 to 17/01/02OLO 5.00 % 2002/2012 from 18/01/02 to 27/01/02OLO 4.25 % 2003-2013 onwards 28/01/03
159Statistical bulletin of the National Bank of Belgium (2003--IV)
19.7 INTEREST RATES ON THREE-MONTH EURO-CURRENCY DEPOSITS
(yearly percentages, daily averages)
US dollar Euro Pound ster-ling 1
Swiss franc Danishcrown
Japaneseyen
Canadiandollar
Swedishcrown
Norwegiancrown
Australiandollar
1994 4.63 5.44 4.04 6.07 2.22 5.28 - -
1995 5.93 6.62 2.96 6.05 1.14 6.91 8.56 5.25
1996 5.40 6.01 1.91 3.85 0.44 4.38 5.88 4.68
1997 5.63 6.83 1.61 3.62 0.42 3.45 4.25 3.53
1998 5.47 7.32 1.46 4.09 0.32 4.95 4.21 5.56
1999 5.30 2.91 5.36 1.30 3.27 0.09 4.79 3.19 6.28 4.79
2000 6.45 4.35 6.04 2.97 4.83 0.23 5.50 3.95 6.53 5.96
2001 3.72 4.23 4.91 2.84 4.53 0.10 3.90 3.97 7.02 4.70
2002 1.74 3.28 3.95 1.08 3.37 0.02 2.52 4.11 6.70 4.57
2003 1.15 2.30 3.62 0.25 2.28 --0.03 2.89 3.07 3.88 4.73
2002 December 1.37 2.90 3.90 0.59 2.92 0.01 2.73 3.78 6.41 4.65
2003 January 1.30 2.79 3.87 0.52 2.84 0.01 2.77 3.73 5.78 4.62
February 1.27 2.65 3.64 0.50 2.74 0.01 2.82 3.65 5.49 4.59
March 1.22 2.50 3.54 0.28 2.51 0.01 3.08 3.45 5.29 4.60
April 1.24 2.50 3.53 0.22 2.49 0.01 3.19 3.45 5.06 4.63
May 1.22 2.38 3.52 0.20 2.41 0.01 3.24 3.30 4.71 4.61
June 1.04 2.11 3.52 0.19 2.05 0.00 3.13 2.85 3.86 4.50
July 1.05 2.09 3.38 0.20 2.01 --0.07 2.97 2.73 3.25 4.56
August 1.07 2.10 3.41 0.18 2.03 --0.06 2.80 2.75 2.94 4.66
September 1.08 2.11 3.59 0.17 2.02 --0.05 2.69 2.77 2.61 4.75
October 1.09 2.11 3.70 0.16 2.05 --0.07 2.65 2.76 2.64 4.83
November 1.10 2.13 3.87 0.17 2.12 --0.06 2.71 2.75 2.67 5.11
December 1.10 2.11 3.90 0.18 2.10 --0.06 2.66 2.73 2.41 5.30
1 Rates calculated on basis of 365 days.Bibliographical references: Bulletin de la Banque Nationale de Belgique, LXVIth year, number 5, May 1991. Bulletin statistique de la Banque Nationale de Belgique, 1996-II.
160 Statistical bulletin of the National Bank of Belgium (2003--IV)
19.8 GROSS YIELD RATES OF 10 YEAR BENCHMARK BOND ON THE SECONDARY MARKET:INTERNATIONAL COMPARISON
(yearly percentages, daily averages)
Belgium France Netherlands Germany Italy United Kingdom United States Japan
1994 7.76 7.22 6.87 6.83 10.53 8.15 7.18 4.21
1995 7.49 7.54 6.91 6.83 12.25 8.33 6.70 3.29
1996 6.49 6.33 6.16 6.22 9.42 7.95 6.53 3.01
1997 5.76 5.57 5.57 5.66 6.82 7.13 6.45 2.17
1998 4.75 4.64 4.64 4.56 4.89 5.60 5.32 1.48
1999 4.77 4.62 4.65 4.50 4.76 5.06 5.71 1.72
2000 5.60 5.40 5.43 5.27 5.61 5.34 6.13 1.76
2001 5.13 4.94 4.96 4.81 5.19 4.93 5.06 1.34
2002 4.98 4.87 4.90 4.79 5.04 4.93 4.65 1.27
2003 4.18 4.14 4.15 4.10 4.26 4.53 4.04 1.01
2002 December 4.46 4.41 4.38 4.36 4.56 4.59 4.08 0.97
2003 January 4.28 4.23 4.24 4.18 4.39 4.43 4.07 0.82
February 4.11 4.01 4.06 3.96 4.17 4.25 3.95 0.82
March 4.15 4.09 4.11 4.02 4.20 4.32 3.82 0.73
April 4.29 4.23 4.24 4.16 4.32 4.47 3.98 0.66
May 3.95 3.91 3.93 3.85 4.03 4.21 3.62 0.58
June 3.74 3.70 3.72 3.64 3.83 4.07 3.33 0.54
July 4.06 4.00 4.04 4.00 4.13 4.34 3.94 1.01
August 4.22 4.16 4.19 4.15 4.30 4.58 4.44 1.17
September 4.25 4.23 4.22 4.20 4.32 4.70 4.34 1.50
October 4.31 4.29 4.27 4.25 4.38 4.92 4.31 1.43
November 4.43 4.41 4.40 4.39 4.51 5.09 4.33 1.40
December 4.38 4.34 4.34 4.34 4.46 4.95 4.31 1.37
Source: Securities regulation Fund
N.B.: Today’s bonds of reference:Belgium: 4.25 % OLO - 28/09/2013,France: 4.75 % OAT - 25/10/2012,Netherlands: 4.25 % Nederland - 15/07/2013,Germany: 4.50 % Bund - 04/01/2013,Italy: 4.75 % BTP - 01/02/2013,United Kingdom: 5.00 % Treasury stock - 07/03/2012,United States: 4.00 % Treasury note - 15/11/2012,Japan: 1.00 % JGB - 20/12/2012.
161Statistical bulletin of the National Bank of Belgium (2003--IV)
19.9 OFFICIAL INTEREST RATES OR INTERVENTION RATES OF FOREIGN CENTRALBANKS
(yearly percentages, dates of change)
Denmark Sweden Norway Switserland United kingdom United States Japan
Rate on currentaccount depo-sits
Rate on certifi-cates of deposit
Repo for 2weeks
Depositfacility Discount rate Minimum lend-ing rate
Discount rate Discount rate
p.m. 2002 1 February 3.25 3.55 3.75 6.50 0.50 4.00 1.25 0.10
19 March 4.00
26 April 4.25
4 July 7.00
9 August 3.50
30 August 3.45
7 November 0.75
15 November 4.00
6 December 2.75 2.95 3.75
12 December 6.50
2003 9 January -
23 January 6.00
6 February 3.75
6 March 5.50
7 March 2.50 2.70
19 March 3.50
30 April 5.00
23 May 2.65
6 June 2.00 2.15
11 June 3.00
26 June 4.00
9 July 2.75
10 July 3.50
14 August 3.00
18 September 2.50
6 November 3.75
Source: EUROSTAT
Bibliographical reference: Bulletin statistique de la Banque Nationale de Belgique, 1996-I.
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