Statistical News Release: Balance of payments and net external assets reviewed for 2015

Statistical news
Datum 24 mei 2018

Statistics Netherlands (CBS) and De Nederlandsche Bank (DNB) have achieved full consistency between the rest-of-the-world account and the balance of payments. This makes the Netherlands one of the first European countries to implement the European institutions' recommendation to create such consistency to coincide with the next national accounts review. We have been able to achieve this thanks to the fact that the international manuals for these statistics have meanwhile been almost fully aligned in terms of their methodologies. CBS and DNB first published their statistics in accordance with these new manuals in 2014. We subsequently launched an intensive process in which remaining discrepancies between the figures in the balance of payments and the sector accounts were examined and confirmed. To conclude the process, we compiled and fully aligned CBS's rest-of-the-world account and DNB's balance of payments according to a common statistical procedure.

In this statistical news release, we present the outcomes for the 2015 review year of the current account balance of the balance of payments and net external assets as produced together with the national accounts. Both figures are core indicators of external statistics, and they are among the indicators which the European Commission considers as part of its macroeconomic imbalances procedure (MIP). Together with this news release, CBS presents the outcomes of its 2015 benchmark review for the national accounts, including the rest-of-the-world account (see the link at the end of this release). In June the regular update of our balance of payments tables takes place, and more elaborate figures for the 2015 review year, 2016, 2017 and the first new quarterly set (2018-Q1) compiled together with the national accounts will be published. Figures for the pre-2015 period are due for publication later in 2018. These figures will also feature enhanced consistency between balance of payments and rest-of-the-world statistics, but unlike those for 2015 and beyond, they will not be fully aligned.