15/2018 - 24 January 2018
Third quarter of 2017
Seasonally adjusted government deficit down to 0.3% of GDP in the euro area
Down to 0.6% of GDP in the EU28
In the third quarter of 2017, the seasonally adjusted general government deficit to GDP ratio stood at 0.3% in the euro area (EA19), a strong decrease compared with 1.0% in the second quarter of 2017. In the EU28, the deficit to GDP ratio stood at 0.6%, a decrease compared with 1.2% in the previous quarter.
These data are released by Eurostat, the statistical office of the European Union.
Seasonally adjusted* government revenue, expenditure and surplus/deficit in the euro area and EU
(% of GDP) | 2015Q3 | 2015Q4 | 2016Q1 | 2016Q2 | 2016Q3 | 2016Q4 | 2017Q1 | 2017Q2 | 2017Q3 |
EA19 surplus (+)/ deficit (-) total revenue total expenditure | -1.8 46.2 47.9 | -2.1 46.4 48.5 | -1.9 45.9 47.8 | -1.6 46.1 47.7 | -1.6 46.2 47.8 | -1.1 46.2 47.3 | -1.0 46.3 47.3 | -1.0 46.1 47.1 | -0.3 46.2 46.5 |
EU28 surplus (+)/ deficit (-) total revenue total expenditure | -2.2 44.5 46.7 | -2.2 45.0 47.1 | -2.1 44.4 46.5 | -1.7 44.7 46.4 | -1.7 44.8 46.6 | -1.2 44.8 46.0 | -1.0 44.9 46.0 | -1.2 44.7 45.9 | -0.6 44.8 45.4 |
* Calendar day and seasonally adjusted. Data are a combination of national and Eurostat estimates.
Government revenue and expenditure for the euro area and EU28
In the third quarter of 2017, total government revenue in the euro area amounted to 46.2% of GDP, an increase compared with 46.1% in the second quarter of 2017. Total government expenditure in the euro area stood at 46.5% of GDP, a decrease compared to the previous quarter (47.1%).
In the EU28, total government revenue was 44.8% of GDP in the third quarter of 2017, compared with 44.7% in the second quarter of 2017. Total government expenditure in the EU28 was 45.4% of GDP, a decrease compared to the previous quarter (45.9%).
Seasonally adjusted* government surplus/deficit in the euro area and EU
1
0
-1
-2
% of GDP
-3
-4
-5
-6
-7
-8
Q1 | Q2 Q3 | Q2 Q3 | Q2 Q3 | Q2 Q3 | Q2 Q3 | Q4 | Q1 Q2 Q3 | Q4 | Q1 Q2 Q3 | Q2 Q3 | Q2 Q3 | Q2 Q3 | Q2 Q3 | Q4 | Q1 Q2 Q3 |
2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 |
EU28EA19
* Calendar and seasonally adjusted. Data are a combination of national and Eurostat estimates.
Geographical information
The euro area (EA19) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The European Union (EU28) includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.
Methods and definitions
Data for the euro area and EU aggregates are calendar and seasonally adjusted by Eurostat using an indirect approach (by country) for total revenue and total expenditure. Both revenue and expenditure exhibit a clear seasonal pattern. The surplus (+)/deficit (-) is derived indirectly from the above-mentioned transactions. For the ratios to GDP, calendar and seasonally adjusted GDP is used. Several countries supply Eurostat with their own estimates of calendar and seasonally adjusted data for general government total revenue and total expenditure on a voluntary basis and permit Eurostat to publish these estimates.
Detailed metadata on seasonal adjustment is available inStatistics Explained.
Quarterly non-financial accounts for general government use concepts that are fully in line with the methodology laid out in the European System of Accounts (ESA 2010) as well as the concept of general government deficit/ surplus used in the context of the Excessive Deficit Procedure. Annual Excessive Deficit Procedure data, next to be notified by Member States in April 2018, are the subject of a thorough verification by Eurostat.
Quarterly data on GDP are the most recent transmitted by the EU Member States. While non-seasonally adjusted quarterly government deficit/surplus figures are consistent with annual figures, differences between the sum of quarterly non-seasonally adjusted data and annual figures may occur for EU and euro area aggregates due to exchange rates effects. Differences between annualised seasonally adjusted data and annual data occur for technical reasons. Differences between quarterly and annual GDP figures also occur.
Differences between the change in total revenue and total expenditure and the change in surplus (+)/deficit (-) are due to rounding.
Country note: Portugal
The net borrowing (deficit) does not include any impact of the recapitalisation of Caixa Geral de Depósitos (CGD). The recapitalisation of CGD is projected to amount to €4 874 million (€4 444 million occurred in the first quarter of 2017) of which €3 944 million were undertaken by the Portuguese State, amounting to 2.1% of projected annual GDP. Given the complexity of this operation, there is an ongoing exchange of information and dialogue between Statistics Portugal and the European Commission (Eurostat) regarding its recording in national accounts.
For more information
Quarterly government finance statistics in "Statistics Explained"Quarterly non-financial accounts for general government
Further data are available in theintegrated publication on quarterly government finance statistics
ESA 2010:Regulation (EU) No 549/2013 on the European system of national and regional accounts in the European Union Most recent government deficit and debtNews Release
Eurostat €-indicatorsrelease calendar
Issued by: Eurostat Press Office
For further information on data:
Tel: +352-4301-33 444eurostat-pressoffice@ec.europa.eu
Baiba GRANDOVSKAec.europa.eu/eurostat
@EU_EurostatEurostatStatistics
Laura WAHRIG Lukas RUCKA Elvira GOEBEL
Kurt WASS
Tel: +352 4301 37687estat-stpfs-data@ec.europa.eu
Media requests: Eurostat media support / Tel: +352-4301-33 408 /eurostat-mediasupport@ec.europa.eu
Seasonally adjusted* surplus/ deficit by Member State
% of GDP | Change on the previous quarter in pp of GDP | ||||||||||||||||
2015Q3 | 2015Q4 | 2016Q1 | 2016Q2 | 2016Q3 | 2016Q4 | 2017Q1 | 2017Q2 | 2017Q3 | 2015Q4 | 2016Q1 | 2016Q2 | 2016Q3 | 2016Q4 | 2017Q1 | 2017Q2 | 2017Q3 | |
EA19 | -1.8 | -2.1 | -1.9 | -1.6 | -1.6 | -1.1 | -1.0 | -1.0 | -0.3 | -0.3 | 0.2 | 0.3 | -0.1 | 0.5 | 0.2 | -0.1 | 0.7 |
EU28 | -2.2 | -2.2 | -2.1 | -1.7 | -1.7 | -1.2 | -1.0 | -1.2 | -0.6 | 0.0 | 0.1 | 0.4 | 0.0 | 0.5 | 0.1 | -0.2 | 0.7 |
Belgium | -1.6 | -2.0 | -3.6 | -2.4 | -2.6 | -1.4 | -0.6 | -0.8 | -0.2 | -0.3 | -1.6 | 1.2 | -0.3 | 1.2 | 0.8 | -0.3 | 0.6 |
Bulgaria | -3.2 | 0.8 | 1.0 | -0.3 | -0.2 | -0.4 | 0.1 | -2.1 | 4.2 | 4.0 | 0.2 | -1.3 | 0.1 | -0.2 | 0.5 | -2.2 | 6.2 |
Czech Republic | -0.6 | -1.4 | 0.7 | 0.5 | 1.0 | 0.7 | 1.1 | 1.3 | 1.6 | -0.8 | 2.1 | -0.3 | 0.6 | -0.4 | 0.4 | 0.2 | 0.3 |
Denmark | -1.8 | 1.2 | -1.7 | -0.6 | -0.4 | 1.0 | 0.0 | -0.3 | -0.4 | 3.0 | -3.0 | 1.2 | 0.1 | 1.4 | -1.0 | -0.3 | -0.1 |
Germany | 1.6 | 0.3 | 0.6 | 0.8 | 0.7 | 1.2 | 1.2 | 0.6 | 2.5 | -1.3 | 0.3 | 0.2 | -0.1 | 0.5 | -0.1 | -0.6 | 1.9 |
Estonia | 0.2 | 0.7 | 1.2 | 0.1 | -0.9 | -1.0 | -0.2 | -0.6 | -0.7 | 0.5 | 0.5 | -1.2 | -1.0 | -0.1 | 0.7 | -0.4 | 0.0 |
Ireland | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : |
Greece | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : |
Spain | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : |
France | -3.7 | -3.1 | -3.4 | -3.4 | -3.7 | -3.1 | -3.0 | -2.5 | -2.8 | 0.6 | -0.4 | 0.0 | -0.3 | 0.6 | 0.1 | 0.5 | -0.3 |
Croatia | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : |
Italy | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : |
Cyprus | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : | : |
Latvia | -1.6 | 0.1 | 0.2 | 0.0 | 0.2 | -1.2 | 0.8 | 1.7 | -0.2 | 1.8 | 0.1 | -0.2 | 0.2 | -1.4 | 2.0 | 0.9 | -1.8 |
Lithuania | -1.0 | -0.4 | -0.1 | 0.7 | -0.2 | 0.0 | 0.5 | 1.0 | 0.9 | 0.6 | 0.3 | 0.9 | -0.9 | 0.2 | 0.4 | 0.5 | 0.0 |
Luxembourg | 0.9 | 1.3 | 1.4 | 2.0 | 1.7 | 1.5 | -2.3 | 1.8 | 2.4 | 0.4 | 0.0 | 0.6 | -0.3 | -0.2 | -3.8 | 4.1 | 0.6 |
Hungary | -1.7 | -0.7 | 0.7 | -0.5 | 0.8 | -8.2 | 2.3 | -0.7 | -3.9 | 1.0 | 1.4 | -1.3 | 1.3 | -9.0 | 10.5 | -3.0 | -3.2 |
Malta | -0.7 | -0.1 | 0.5 | 1.4 | 1.4 | 2.2 | 3.2 | 3.2 | 4.2 | 0.6 | 0.6 | 0.9 | 0.0 | 0.8 | 1.0 | 0.0 | 0.9 |
Netherlands | -1.8 | -1.6 | -1.2 | 0.6 | 1.0 | 1.0 | 1.5 | 1.1 | 1.4 | 0.1 | 0.4 | 1.9 | 0.4 | 0.0 | 0.4 | -0.4 | 0.3 |
Austria | -2.2 | 0.5 | -1.2 | -0.9 | -1.1 | -2.6 | 0.1 | -1.2 | -0.5 | 2.7 | -1.7 | 0.3 | -0.2 | -1.5 | 2.7 | -1.3 | 0.7 |
Poland | -2.2 | -1.4 | -3.3 | -2.5 | -2.3 | -1.8 | -1.6 | -1.1 | -0.7 | 0.9 | -1.9 | 0.9 | 0.1 | 0.5 | 0.2 | 0.6 | 0.3 |
Portugal | -2.5 | -7.4 | -2.2 | -2.4 | -3.0 | -0.3 | -0.8(p) | -1.4 | 1.5 | -4.9 | 5.1 | -0.1 | -0.7 | 2.7 | -0.4(p) | -0.6(p) | 2.8 |
Romania | -2.2 | -0.7 | -2.4 | -2.9 | -2.7 | -3.4 | -2.7 | -3.7 | -2.5 | 1.5 | -1.7 | -0.5 | 0.2 | -0.7 | 0.7 | -1.1 | 1.2 |
Slovenia | -2.9 | -2.4 | -1.5 | -1.1 | -2.2 | -2.6 | 0.4 | -0.2 | -0.8 | 0.4 | 0.9 | 0.4 | -1.1 | -0.3 | 3.0 | -0.6 | -0.7 |
Slovakia | -2.8 | -2.1 | -2.6 | -2.6 | -2.1 | -1.6 | -1.8 | -1.2 | -2.1 | 0.6 | -0.4 | 0.0 | 0.6 | 0.5 | -0.2 | 0.6 | -0.9 |
Finland | -2.7 | -2.5 | -1.8 | -2.7 | -1.2 | -1.3 | -1.3 | -0.1 | -1.7 | 0.2 | 0.7 | -0.9 | 1.5 | -0.1 | 0.0 | 1.2 | -1.6 |
Sweden | 0.5 | 0.2 | 1.0 | 1.1 | 1.3 | 1.4 | 1.2 | 1.1 | 1.3 | -0.3 | 0.8 | 0.0 | 0.2 | 0.2 | -0.2 | -0.1 | 0.2 |
United Kingdom | -4.3 | -3.8 | -3.4 | -3.4 | -3.0 | -2.1 | -1.2 | -3.3 | -1.9 | 0.4 | 0.4 | 0.0 | 0.4 | 0.9 | 0.9 | -2.2 | 1.4 |
Switzerland | 0.8 | 0.7 | 0.5 | 0.4 | 0.3 | 0.2 | 1.0 | 1.2 | 1.2 | 0.0 | -0.3 | -0.1 | -0.1 | 0.0 | 0.8 | 0.1 | 0.0 |
* Calendar and seasonally adjusted. EU and euro area data are a combination of national and Eurostat estimates.
: confidential or Eurostat estimate p: provisional (see country note under "Methods and definitions").
The source dataset can be foundhere.
EUROSTAT - European Union Statistical Office published this content on 24 January 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 January 2018 10:04:02 UTC.
Original documenthttp://ec.europa.eu/eurostat/documents/2995521/8609582/2-24012018-BP-EN.pdf/62261faf-33f8-4be1-8e41-3aac2e594381
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