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Macroeconomic imbalance procedure

Scoreboard indicators used to detect emerging macroeconomic imbalances in Member States.

Studies in this domain4
Data sourceEurostat
Denmark Has the EU's Biggest Surplus With the World, at 12.3% of GDP
Macroeconomic imbalance procedureReference period 2025

Denmark Has the EU's Biggest Surplus With the World, at 12.3% of GDP

Denmark ran a current account surplus worth 12.3% of GDP in 2025, the largest in the Union.

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Hungary's Labour Cost per Unit of Output Rose by Over Half in Five Years
Macroeconomic imbalance procedureReference period 2025

Hungary's Labour Cost per Unit of Output Rose by Over Half in Five Years

EU unit labour costs in 2025 stood at 119.1 against a 2020 base of 100 — 19.1% higher in five years.

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Portugal's Homes Are Harder to Afford Than Usual by the EU's Widest Margin
Macroeconomic imbalance procedureReference period 2024

Portugal's Homes Are Harder to Afford Than Usual by the EU's Widest Margin

The EU price-to-income ratio stood at 98.9 in 2024 against its own long-term average of 100 — housing across the Union is close to its historical norm.

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Denmark's Net Wealth Abroad Is Worth 97.8% of Its GDP
Macroeconomic imbalance procedureMemberReference period 2025

Denmark's Net Wealth Abroad Is Worth 97.8% of Its GDP

Denmark's net international investment position stood at 97.8% of GDP at the end of 2025 — close to a full year of its economic output.

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