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Philipp Hanheide

12 November 2020
Economic Bulletin Issue 7, 2020
The September 2020 ECB staff macroeconomic projections used a revised weighting scheme for the euro area’s trading partners. Two key conceptual changes were implemented in the weighting scheme this year. First, data on trade in services were used in addition to data on trade in goods. Second, the number of euro area trading partners was increased from 30 to 42. As a result of these changes, the coverage of the euro area’s foreign demand by individual country data increased from 85% to 92%, with the remaining countries covered by regional aggregates.
JEL Code
E50 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→General
E66 : Macroeconomics and Monetary Economics→Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook→General Outlook and Conditions
F01 : International Economics→General→Global Outlook
F17 : International Economics→Trade→Trade Forecasting and Simulation