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To evaluate the current state of the Belgian economy, the FPB regularly updates a series of indicators. The indicators concern the macro-economic stance of the economies of Belgium, its three neighbouring countries and the euro area, as well as the transport industry.

 Indicators : Real effective exchange rate based on ULC, index 2015

The chart will appear within this DIV.

Real effective exchange rate based on ULC, 42 industrialised countries

index 2015=100


Source - DGECFIN, Price and cost competitiveness.


Description: the real effective exchange rate (REER) aims to assess a country's (or currency area's) price or cost competitiveness relative to its principal competitors in international markets. Changes in cost and price competitiveness depend not only on exchange rate movements but also on cost and price trends. This REER is deflated by the unit labour cost index (ULC) against a panel of 42 industrialised countries. Double export weights are used to calculate REERs, reflecting not only competition in the home markets of the various competitors, but also competition in export markets elsewhere. A rise in the index means a loss of competitiveness.

Source: DGECFIN, Price and cost competitiveness

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