Efficiency of Demand Shocks in Order to Reduce Current Account Imbalances in the EMU
Table 1
Share of private consumption, openness to trade, indebtedness level, and net foreign assets position of some EMU countries.
Private consumption/GDP (1)
Openness to trade (2)
Public debt/GDP
Net foreign assets/GDP (3)
EMU 17
78.5%
44.3%
92.7%
2.0%
Austria
81.0%
55.6%
73.4%
2.9%
Belgium
75.1%
84.2%
99.6%
0.8%
Finland
74.9%
41.0%
53.0%
−1.5%
France
75.3%
28.6%
90.2%
−1.7%
Germany
80.5%
48.8%
81.9%
6.3%
Greece
82.2%
29.5%
156.9%
−2.9%
Ireland
82.5%
96.0%
117.6%
3.7%
Italy
79.9%
29.7%
127.0%
−0.4%
The Netherlands
71.5%
83.8%
71.2%
8.0%
Portugal
81.7%
39.1%
123.6%
0.4%
Spain
79.9%
31.7%
84.2%
−0.2%
Source: Eurostat. (1) 1 − (Final consumption expenditure of general government/GDP), in 2012. (2) (Exportations + Importations of goods and services)/(2 * GDP), in 2012. (3) Net borrowing (−) or net lending (+), total economy, in % of GDP, in 2012.
