Belgium - Current Account Balance




Belgium: Current Account Balance

Mnemonic TAB.IBEL
Unit Mil. EUR, NSA
Adjustments Not Seasonally Adjusted
Monthly 491.16 %
Data Dec 2023 841
Nov 2023 -215

Series Information

Source National Bank of Belgium - Belgostat (BNB)
Release Balance of Payments
Frequency Quarterly
Start Date 1/31/1995
End Date 12/31/2023

Belgium: Trade

Reference Last Previous Units Frequency
Balance of Goods Feb 2024 3,163 1,666 Mil. EUR, NSA Monthly
Exports of Goods Feb 2024 41,321 40,792 Mil. EUR, NSA Monthly
Imports of Goods Feb 2024 38,158 39,126 Mil. EUR, NSA Monthly
Current Account Balance Dec 2023 841 -215 Mil. EUR, NSA Monthly
Exports of Goods and Services 2023 Q4 124,250 124,035 Mil. EUR, CDASA Quarterly
Imports of Goods and Services 2023 Q4 124,480 125,627 Mil. EUR, CDASA Quarterly
Net Exports 2023 Q4 -230 -1,593 Mil. EUR, CDASA Quarterly
Real Exports of Goods and Services 2023 Q4 100,309 99,901 Mil. Ch. 2015 EUR, CDASA Quarterly
Real Imports of Goods and Services 2023 Q4 97,786 98,683 Mil. Ch. 2015 EUR, CDASA Quarterly

Release Information

Description

For Belgium, detailed balance of payments per IMF BPM5 and BPM6. Quarterly under BPM6 from 2008, under BPM5 from 1995 to 2014.

Properties

Active:

  • Framework: IMF BPM6
  • Measurement: Millions of euros (Mil. EUR)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start dates:
    • 1995m1 for current account balance
    • 2008m1 for all other series

Predecessors:

  • Prior treatment of trade credit - 2008 to 2020
  • BPM5 - 1995 to 2014

Methodology

Sources used for this release include NBB who had responsibility for publishing balance of payments (BOP) data for Belgium since 2002.

The major source for compiling balance of payments is the international transactions reporting system (ITRS). The responsibility for reporting rests with residents and applies to payments made within and outside the domestic banking system.

In addition to the above procedures, some major enterprises report all their transactions directly to NBB.

Foreign trade statistics are used for compiling transactions in goods since September 2001.

An annual survey of foreign direct investment, since 1996, is used to improve the corresponding items in the BOP.

The main balance of payments items:

  1. Current account
    • Trade in Services
    • Current transfers
  2. Capital accounts
  3. Financial accounts
    • Portfolio investments
    • Direct investments
    • Other investments and derivatives
  4. Reserves

Revisions

Data prior to entry into EMU (prior to 1999) have been converted from the former national currency using the appropriate irrevocable conversion rate. The presentation facilitates comparisons within a country over time and ensures the historical evolution (i.e. growth rates) is preserved. However, pre-EMU euro are a notional unit and are not normally suitable to form area aggregates or to carry out cross-country comparisons.

In January 2006, the Bank switched to a new system of collecting data needed to create the balance of payments.  This totally changed the reporting of the balance of payment data.  The series have been running in parallel to one another to avoid disruptions. 

Notes

Further reading

At the source:

At IMF (SDDS):