Belgium - Current Account Balance

Belgium: Current Account Balance

Mnemonic TAB.IBEL
Unit Mil. EUR, NSA
Adjustments Not Seasonally Adjusted
Monthly 83.17 %
Data Sep 2020 -328
Aug 2020 -1,949

Series Information

Source National Bank of Belgium - Belgostat (BNB)
Release Balance of Payments
Frequency Quarterly (October)
Start Date 1/31/1995
End Date 9/30/2020

Belgium: Trade

Reference Last Previous Units Frequency
Balance of Goods Feb 2021 1,089 3,197 Mil. EUR, NSA Monthly
Exports of Goods Feb 2021 29,677 31,287 Mil. EUR, NSA Monthly
Imports of Goods Feb 2021 28,588 28,089 Mil. EUR, NSA Monthly
Exports of Goods and Services 2020 Q4 92,767 89,292 Mil. EUR, CDASA Quarterly
Imports of Goods and Services 2020 Q4 92,274 89,895 Mil. EUR, CDASA Quarterly
Net Exports 2020 Q4 493 -603 Mil. EUR, CDASA Quarterly
Real Exports of Goods and Services 2020 Q4 90,063 86,768 Mil. Ch. 2015 EUR, CDASA Quarterly
Real Imports of Goods and Services 2020 Q4 89,612 87,844 Mil. Ch. 2015 EUR, CDASA Quarterly
Current Account Balance Sep 2020 -328 -1,949 Mil. EUR, NSA Monthly

Release Information

For Belgium, detailed balance of payments per IMF BPM5 and bPM6. Quarterly under BPM6 from 2008, under BPM5 from 1995 to 2014.

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

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.