Intelligentguess

Goods as a % of GDP

. 

Goods and Services as a % of GDP

. 

Balance of payments ( BOP) as a % of GDP

. 

UK - Trade as a % of GDP (click on image for a larger visual)

. 

USA - Trade as a % of GDP (click on image for a larger visual)

Share This

Situation

Euro area - countries recorded a surplus of 16.6 bn euro in Q4 2006, compared with a deficit of (-3.5 ) bn euro in the Q4  2005 and a deficit of (-2.6) bn euro in Q3 2006.

Break up of the Current account data ( seasonaly adjusted )

Currently the external Balance of Goods and Services as a % of the GDP stands at 0.52%  for Q4 2006 

Note

The Current Account - Balance of Payment data contains the external balance of trade for Goods and Services as well as balance of income viz outflows.  

A separate external Balance of Goods & Services data is released as part of the National Accounts data ( released along with the GDP data) 

Conclusion ( click/double click on chart for the bigger picture)

A look at the historical data (from 1999), of  Trade in Goods and Services as a % of GDP ( taken from the BOP statement ) , shows that the contribution of Goods and Services towards GDP has been rising.

Trade in Goods and services ( as per the National Accounts statement)  - has played a large part in the current growth in Euro GDP growth - esspecially in Q4 2006   (GDP growth of 3.28% p.a in Q4 2006)

Share This

I. Euro Area Goods and Services as a % of GDP - Balance of Payment ( BOP) and National accounts basis

II. Euro area Goods and Services as a % of GDP - National accounts basis as compared to GDP growth %

III. Euro Area Goods and Services as a % of GDP - Balance of Payment ( BOP) basis as compared to GDP growth %

Share This

The UK’s deficit on trade worsened to a 7 month high. The deficit for December 2006 is at £4.9 billion , compared to a deficit of £4.5 billion in November 2006.
The surplus on trade in services was £2.2 billion in December, compared with a surplus of £2.4 billion in November.

The deficit on trade in goods in December was £7.1 billion, compared with a deficit of £6.9 billion in November . Exports fell by £0.2 billion but imports were little changed.

Excluding oil and erratic items, the volume of exports rose by one per cent between November and December and the volume of imports rose by three per cent. (the surge in deficit seems to have been caused by a small fall in exports combined with a larger rise in imports )

For the year as a whole, UK’s deficit on goods and services rose to £55.8 billion – compared with a deficit of £44.6 billion in the previous year.

Interestingly the ₤ had strengthened to record highs against the ¥ € $ currencies from October to December 2006. The ₤ is still at pretty strong levels

The effects of the strong ₤ could weaken overseas activity further and could start having an effect on the Q1 2007 - GDP growth rate ( Q4 2006 was at 3% ).

Share This