Belgium Trade Balance
Key information about Belgium's Trade Balance
- Belgium's Trade Balance recorded a surplus of 3.4 USD bn in Feb 2024, compared with a surplus of 1.8 USD bn in the previous month
- Belgium's Trade Balance data is updated monthly, available from Jan 1993 to Feb 2024, with an averaged value of 1.4 USD bn
- The data reached an all-time high of 5.1 USD bn in Sep 2023 and a record low of -2.4 USD bn in Aug 2022
Further information about Belgium's Trade Balance
- In the latest reports, Belgium's Total Exports reached 43.6 USD bn in Jan 2024, a decrease of 14.1% YoY (year-on-year)
- Total Imports recorded 41.2 USD bn in Feb 2024, a decrease of 14.1% YoY (year-on-year)
View Belgium's Trade Balance from Jan 1993 to Feb 2024 in the chart:
What was Belgium's Trade Balance in Feb 2024?
Belgium's Trade Balance recorded a surplus of 3.4 USD bn in Feb 2024, compared with a surplus of 1.8 USD bn in the previous month See the table below for more data.
Last | Previous | Min | Max | Unit | Frequency | Range |
---|---|---|---|---|---|---|
3,414.0 Feb 2024 | 1,816.2 Jan 2024 | -2,350.1 Aug 2022 | 5,080.9 Sep 2023 | USD mn | monthly | Jan 1993 - Feb 2024 |
Trade Balance by Country Comparison
Buy Selected Data
country/region | Last | Frequency | Range |
---|---|---|---|
Albania (USD mn) | -438.6 Mar 2024 | monthly | Oct 1998 - Mar 2024 |
Algeria (USD mn) | -274.8 Mar 2020 | monthly | Jan 2000 - Mar 2020 |
Argentina (USD mn) | 1,374.3 Mar 2024 | monthly | Jan 1991 - Mar 2024 |
Armenia (USD mn) | 122.6 Mar 2024 | monthly | Nov 1995 - Mar 2024 |
Australia (USD mn) | 3,294.7 Mar 2024 | monthly | Jul 1971 - Mar 2024 |
Austria (USD mn) | 789.5 Jan 2024 | monthly | Jan 1957 - Jan 2024 |
Azerbaijan (USD mn) | -60.6 Mar 2024 | monthly | Jan 2000 - Mar 2024 |
Bahrain (USD mn) | 4,501.7 2023 | yearly | 1966 - 2023 |
Bangladesh (USD mn) | -1,381.2 Feb 2024 | monthly | Jul 1986 - Feb 2024 |
Belarus (USD mn) | -46.0 Feb 2024 | monthly | Jan 2000 - Feb 2024 |
Belgium (USD mn) | 3,414.0 Feb 2024 | monthly | Jan 1993 - Feb 2024 |
Bolivia (USD mn) | -121.6 Feb 2024 | monthly | Oct 1994 - Feb 2024 |
Bosnia and Herzegovina (USD mn) | -601.5 Mar 2024 | monthly | Jan 2000 - Mar 2024 |
Botswana (USD mn) | -319.0 Feb 2024 | monthly | Jan 2001 - Feb 2024 |
Brazil (USD mn) | 7,482.7 Mar 2024 | monthly | Jan 1959 - Mar 2024 |
Brunei (USD mn) | 512.5 Feb 2024 | monthly | Jan 2010 - Feb 2024 |
Bulgaria (USD mn) | -586.1 Feb 2024 | monthly | Jan 1995 - Feb 2024 |
Cambodia (USD mn) | -60.2 Feb 2024 | monthly | Jun 2013 - Feb 2024 |
Canada (USD mn) | -1,682.0 Mar 2024 | monthly | Jan 1988 - Mar 2024 |
Chile (USD mn) | 1,868.1 Apr 2024 | monthly | Jan 1968 - Apr 2024 |
China (USD mn) | 58,551.1 Mar 2024 | monthly | Jan 1992 - Mar 2024 |
Colombia (USD mn) | -1,010.1 Feb 2024 | monthly | Jan 1958 - Feb 2024 |
Croatia (USD mn) | -1,343.3 Jan 2024 | monthly | Jan 1993 - Jan 2024 |
Cyprus (USD mn) | -617.5 Jan 2024 | monthly | Jan 1957 - Jan 2024 |
Czech Republic (USD mn) | 3,162.3 Feb 2024 | monthly | Jan 1996 - Feb 2024 |
Denmark (USD mn) | 1,145.3 Feb 2024 | monthly | Jan 1997 - Feb 2024 |
Ecuador (USD mn) | 678.9 Feb 2024 | monthly | Mar 1992 - Feb 2024 |
Egypt (USD mn) | -2,724.0 Feb 2024 | monthly | Jan 1957 - Feb 2024 |
Estonia (USD mn) | -217.8 Feb 2024 | monthly | Jan 1993 - Feb 2024 |
European Union (USD mn) | 16,022.1 Feb 2024 | monthly | Jan 2002 - Feb 2024 |
Finland (USD mn) | -300.0 Dec 2023 | monthly | Jan 1992 - Dec 2023 |
France (USD mn) | -5,949.2 Mar 2024 | monthly | Jan 2000 - Mar 2024 |
Georgia (USD mn) | -621.9 Mar 2024 | monthly | Jan 1995 - Mar 2024 |
Germany (USD mn) | 24,196.6 Mar 2024 | monthly | Jan 1957 - Mar 2024 |
Ghana (USD mn) | 112.7 Aug 2023 | monthly | Mar 2005 - Aug 2023 |
Greece (USD mn) | -3,274.6 Feb 2024 | monthly | Jan 2002 - Feb 2024 |
Hong Kong SAR, China (USD mn) | -5,753.7 Mar 2024 | monthly | Jan 1957 - Mar 2024 |
Hungary (USD mn) | 1,641.5 Mar 2024 | monthly | Jan 1976 - Mar 2024 |
Iceland (USD mn) | -198.6 Mar 2024 | monthly | Jan 1957 - Mar 2024 |
India (USD mn) | -15,598.0 Mar 2024 | monthly | Jan 1957 - Mar 2024 |
Indonesia (USD mn) | 4,473.1 Mar 2024 | monthly | Jan 1967 - Mar 2024 |
Iran (USD mn) | 22,668.0 2021 | yearly | 1948 - 2021 |
Ireland (USD mn) | 7,769.0 Feb 2024 | monthly | Jan 1970 - Feb 2024 |
Israel (USD mn) | -1,988.9 Mar 2024 | monthly | Jan 1988 - Mar 2024 |
Italy (USD mn) | 7,379.7 Jan 2024 | monthly | Jan 1993 - Jan 2024 |
Ivory Coast (USD mn) | 3,879.5 Jan 2024 | monthly | Jan 1981 - Jan 2024 |
Japan (USD mn) | -3,018.4 Feb 2024 | monthly | Apr 1995 - Feb 2024 |
Jordan (USD mn) | -1,337.6 Feb 2024 | monthly | Jan 1972 - Feb 2024 |
Kazakhstan (USD mn) | 2,336.4 Feb 2024 | monthly | Sep 1995 - Feb 2024 |
Kenya (USD mn) | -957.2 Jan 2024 | monthly | Oct 1992 - Jan 2024 |
South Korea (USD mn) | 1,529.1 Apr 2024 | monthly | Jan 1966 - Apr 2024 |
Kosovo (USD mn) | -478.0 Mar 2024 | monthly | Jan 2003 - Mar 2024 |
Kuwait (USD mn) | 3,739.7 Jan 2024 | monthly | Jan 1993 - Jan 2024 |
Kyrgyzstan (USD mn) | -833.7 Feb 2024 | monthly | Jan 2002 - Feb 2024 |
Laos (USD mn) | -170.9 Dec 2023 | quarterly | Dec 1992 - Dec 2023 |
Latvia (USD mn) | -259.2 Feb 2024 | monthly | Jan 1995 - Feb 2024 |
Lebanon (USD mn) | -397.4 Aug 2023 | monthly | Jan 1993 - Aug 2023 |
Lithuania (USD mn) | -125.5 Feb 2024 | monthly | Jan 1999 - Feb 2024 |
Luxembourg (USD mn) | -705.7 Feb 2024 | monthly | Jan 1988 - Feb 2024 |
Macau SAR, China (USD mn) | -1,258.7 Mar 2024 | monthly | Jan 1998 - Mar 2024 |
North Macedonia (USD mn) | -309.5 Feb 2024 | monthly | Dec 1993 - Feb 2024 |
Malawi (USD mn) | -42.8 Feb 2023 | monthly | Jan 1964 - Feb 2023 |
Malaysia (USD mn) | 1,629.0 Mar 2024 | monthly | Jan 1990 - Mar 2024 |
Malta (USD mn) | -188.9 Feb 2024 | monthly | Jan 1960 - Feb 2024 |
Mauritius (USD mn) | -310.5 Jan 2024 | monthly | Jan 2006 - Jan 2024 |
Mexico (USD mn) | -1,582.9 Mar 2024 | monthly | Jan 1993 - Mar 2024 |
Moldova (USD mn) | -424.7 Feb 2024 | monthly | Jan 1992 - Feb 2024 |
Mongolia (USD mn) | 657.2 Mar 2024 | monthly | Jan 1997 - Mar 2024 |
Montenegro (USD mn) | -306.1 Mar 2024 | monthly | Jan 2005 - Mar 2024 |
Morocco (USD mn) | -2,003.1 Mar 2024 | monthly | Jan 1957 - Mar 2024 |
Mozambique (USD mn) | 89.3 Dec 2023 | monthly | Jan 2011 - Dec 2023 |
Myanmar (USD mn) | 183.9 Jul 2022 | monthly | Jan 1957 - Jul 2022 |
Nepal (USD mn) | -893.2 Mar 2024 | monthly | Aug 1974 - Mar 2024 |
Netherlands (USD mn) | 14,776.7 Mar 2024 | monthly | Jan 1996 - Mar 2024 |
New Zealand (USD mn) | 357.3 Mar 2024 | monthly | Jan 1960 - Mar 2024 |
Nigeria (USD mn) | 1,889.4 Sep 2023 | monthly | Jan 2003 - Sep 2023 |
Norway (USD mn) | 6,027.3 Mar 2024 | monthly | Jan 1957 - Mar 2024 |
Oman (USD mn) | 2,124.8 Feb 2024 | monthly | Jan 1975 - Feb 2024 |
Pakistan (USD mn) | -2,374.0 Apr 2024 | monthly | Jan 1968 - Apr 2024 |
Palestinian Territory (USD mn) | -360.5 Feb 2024 | monthly | Jan 2011 - Feb 2024 |
Panama (USD mn) | -1,081.5 Mar 2024 | monthly | Jan 1964 - Mar 2024 |
Paraguay (USD mn) | 95.4 Mar 2024 | monthly | Jan 1994 - Mar 2024 |
Peru (USD mn) | 1,350.6 Feb 2024 | monthly | Jan 1985 - Feb 2024 |
Philippines (USD mn) | -3,180.6 Mar 2024 | monthly | Jan 1957 - Mar 2024 |
Poland (USD mn) | 769.9 Feb 2024 | monthly | Jan 1986 - Feb 2024 |
Portugal (USD mn) | -2,543.2 Feb 2024 | monthly | Jan 1957 - Feb 2024 |
Qatar (USD mn) | 4,835.7 Mar 2024 | monthly | Jan 2014 - Mar 2024 |
Romania (USD mn) | -2,346.4 Feb 2024 | monthly | Aug 1990 - Feb 2024 |
Russia (USD mn) | 10,731.9 Jan 2023 | monthly | Jan 1998 - Jan 2023 |
Saudi Arabia (USD mn) | 113,078.6 2023 | yearly | 1957 - 2023 |
Serbia (USD mn) | -774.5 Mar 2024 | monthly | Jan 2001 - Mar 2024 |
Singapore (USD mn) | 3,473.4 Mar 2024 | monthly | Jan 1976 - Mar 2024 |
Slovakia (USD mn) | 700.9 Feb 2024 | monthly | Jan 2004 - Feb 2024 |
Slovenia (USD mn) | 68.3 Mar 2024 | monthly | Nov 1991 - Mar 2024 |
South Africa (USD mn) | 738.4 Feb 2024 | monthly | Oct 2004 - Feb 2024 |
Spain (USD mn) | -3,433.0 Feb 2024 | monthly | Mar 1974 - Feb 2024 |
Sri Lanka (USD mn) | -368.8 Mar 2024 | monthly | Jan 1982 - Mar 2024 |
Sudan (USD mn) | -829.9 Dec 2022 | monthly | Jan 2003 - Dec 2022 |
Sweden (USD mn) | 461.0 Mar 2024 | monthly | Jan 1957 - Mar 2024 |
Switzerland (USD mn) | 3,209.9 Mar 2024 | monthly | Jan 1957 - Mar 2024 |
Accurate Macro & Micro Economic Data You Can Trust
Explore the most complete set of 6.6 million time series covering more than 200 economies, 20 industries and 18 macroeconomic sectors.
Learn more about what we doBelgium Key Series
Buy Selected Data
Foreign Trade | Last | Frequency | Range |
---|---|---|---|
Forecast: Exports of Goods Growth (%) | 3.193 2029 | yearly | 1980 - 2029 |
Trade Balance (USD mn) | 3,414.0 Feb 2024 | monthly | Jan 1993 - Feb 2024 |
Total Exports (USD mn) | 44,598.0 Feb 2024 | monthly | Jan 1993 - Feb 2024 |
Total Exports Growth (%) | -8.2 Feb 2024 | monthly | Jan 1994 - Feb 2024 |
Aluminum: Exports (USD th) | 2,272,698.345 2022 | yearly | 1995 - 2022 |
Exports: Medicament (USD th) | 29,489,994.259 2022 | yearly | 1995 - 2022 |
Exports: Medicinal and Pharmaceutical Product (USD th) | 48,623,017.466 2022 | yearly | 1995 - 2022 |
Total Imports (USD mn) | 41,183.9 Feb 2024 | monthly | Jan 1993 - Feb 2024 |
Total Imports Growth (%) | -14.1 Feb 2024 | monthly | Jan 1994 - Feb 2024 |
Imports: Medicament (USD th) | 25,246,124.692 2022 | yearly | 1995 - 2022 |
Imports: Medicinal and Pharmaceutical Product (USD th) | 28,374,000.664 2022 | yearly | 1995 - 2022 |
Total Exports to USA (USD mn) | 1,968.529 Dec 2023 | monthly | Jan 1995 - Dec 2023 |
Total Imports from USA (USD mn) | 2,019.967 Dec 2023 | monthly | Jan 1995 - Dec 2023 |
Total Exports to China (USD mn) | 474.160 Dec 2023 | monthly | Jan 1995 - Dec 2023 |
Total Imports from China (USD mn) | 966.510 Dec 2023 | monthly | Jan 1995 - Dec 2023 |
Trade Balance: National Concept (EUR mn) | 1,681.000 Feb 2024 | monthly | Jan 1995 - Feb 2024 |
Imports: National Concept (EUR mn) | 28,561.700 Feb 2024 | monthly | Jan 1995 - Feb 2024 |
Exports: National Concept (EUR mn) | 30,242.700 Feb 2024 | monthly | Jan 1995 - Feb 2024 |
Exports: NC: HS: Metals (EUR mn) | 2,266.888 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Exports: NC: HS: Agriculture: Food, Beverages & Tobacco (FB) (EUR mn) | 2,034.149 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Exports: NC: HS: Textiles (EUR mn) | 538.959 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Exports: NC: HS: Plastics & Rubber (EUR mn) | 1,815.371 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Exports: NC: HS: Machinery & Electrical Equipment (EUR mn) | 2,941.279 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Exports: NC: HS: Chemical Products (EUR mn) | 7,680.785 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Exports: National Concept: European Union: Netherlands (EUR mn) | 3,757.023 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Exports: National Concept: America: USA (EUR mn) | 1,998.411 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Exports: National Concept: European Union: Germany (EUR mn) | 4,570.817 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Exports: National Concept: European Union: France (EUR mn) | 3,532.637 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports: NC: HS: Plastics & Rubber (EUR mn) | 1,234.455 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports: NC: HS: Chemical Products (EUR mn) | 6,322.628 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports: NC: HS: Metals (EUR mn) | 1,898.677 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports: NC: HS: Machinery & Electrical Equipment (EUR mn) | 4,376.862 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports: NC: HS: Agriculture: Food, Beverages & Tobacco (FB) (EUR mn) | 1,241.683 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports: NC: HS: Textiles (EUR mn) | 554.466 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports: National Concept: European Union: Germany (EUR mn) | 3,471.971 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports: National Concept: European Union: Netherlands (EUR mn) | 6,733.283 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports: National Concept: America: USA (EUR mn) | 2,183.695 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports: National Concept: European Union: France (EUR mn) | 3,385.686 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports Volume Index: National Concept (2000=100) | 97.200 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports Unit Value Index: National Concept (2000=100) | 169.780 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Imports Value Index: National Concept (2000=100) | 165.020 Jan 2024 | monthly | Jan 1995 - Jan 2024 |
Monetary | Last | Frequency | Range |
---|---|---|---|
Non Performing Loans Ratio (%) | 0.6 Dec 2023 | quarterly | Mar 2007 - Dec 2023 |
Household Debt: % of GDP (%) | 60.2 Dec 2023 | quarterly | Dec 1992 - Dec 2023 |
Non-Performing Loans (USD mn) | 2,349.602 Mar 2024 | monthly | Jan 2007 - Mar 2024 |
Money Supply M1 (USD mn) | 257,581.171 Mar 2024 | monthly | Dec 1996 - Mar 2024 |
Money Supply M2 (USD mn) | 687,818.343 Mar 2024 | monthly | Dec 1996 - Mar 2024 |
M2 Growth (%) | -1.7 Mar 2024 | monthly | Dec 1997 - Mar 2024 |
Reserve Requirement Ratio (%) | 1.0 Mar 2024 | monthly | Jan 1999 - Mar 2024 |
Foreign Exchange Reserves (USD mn) | 8,200.0 Mar 2024 | monthly | Jan 1999 - Mar 2024 |
Foreign Exchange Reserves: % of GDP (%) | 1.297 Dec 2023 | quarterly | Mar 1999 - Dec 2023 |
Foreign Exchange Reserves: Months of Import (NA) | 0.2 Feb 2024 | monthly | Jan 1999 - Feb 2024 |
Gold Reserves (USD mn) | 16,200.000 Mar 2024 | monthly | Dec 1956 - Mar 2024 |
Total Deposits (USD mn) | 1,468,960.492 Mar 2024 | monthly | Dec 1996 - Mar 2024 |
Total Deposits Growth (%) | 2.6 Mar 2024 | monthly | Dec 1997 - Mar 2024 |
Domestic Credit (USD mn) | 816,491.5 Feb 2024 | monthly | Jan 1999 - Feb 2024 |
Domestic Credit Growth (%) | 0.3 Feb 2024 | monthly | Jan 2000 - Feb 2024 |
Debt Service Ratio: Households (%) | 6.500 Sep 2023 | quarterly | Mar 1999 - Sep 2023 |
Debt Service Ratio: Private Non-Financial Sector (%) | 17.700 Sep 2023 | quarterly | Mar 1999 - Sep 2023 |
Credit to Households (USD bn) | 357.860 Sep 2023 | quarterly | Dec 1980 - Sep 2023 |
Credit to Private Non-Financial Sector (USD bn) | 1,144.242 Sep 2023 | quarterly | Dec 1970 - Sep 2023 |
Household Debt (USD mn) | 365,548.5 Dec 2022 | quarterly | Dec 1992 - Dec 2022 |
Total Loans (USD mn) | 846,478.621 Dec 2023 | quarterly | Jun 2006 - Dec 2023 |
Total Loans Growth (%) | 2.13 Dec 2023 | quarterly | Jun 2007 - Dec 2023 |
Private Debt: % of Nominal GDP (%) | 69.48 Dec 2023 | quarterly | Mar 1999 - Dec 2023 |
Monetary Agg in Euro Area: BC: M3 excl Currency in Circulation (EUR bn) | 676.900 Mar 2024 | monthly | Dec 1996 - Mar 2024 |
Official Reserve Assets (EUR mn) | 38,580.000 Mar 2024 | monthly | Jan 2013 - Mar 2024 |
Official Reserve Assets: Monetary Gold (EUR mn) | 8,489.000 Feb 2019 | monthly | Jan 2013 - Feb 2019 |
Gross International Reserves (USD bn) | 41.700 Mar 2024 | monthly | Jan 1999 - Mar 2024 |
Gross International Reserves: Gold (USD bn) | 16.200 Mar 2024 | monthly | Dec 1990 - Mar 2024 |
Consumer Credit: Outstanding Amount (EUR mn) | 27,955.000 Jun 2023 | semiannually | Jun 1980 - Jun 2023 |
MFIs Loans: Outstanding Amounts (OA) (EUR mn) | 956,580.000 Mar 2024 | monthly | Sep 1997 - Mar 2024 |
Deposits: Households: Outstanding Amounts (EUR mn) | 415,320.000 Mar 2024 | monthly | Dec 1998 - Mar 2024 |
Deposits: Non Financial Corporations (NF): Outstanding Amounts (EUR mn) | 141,991.000 Mar 2024 | monthly | Dec 1998 - Mar 2024 |
Deposits: Financial Intermediaries (FI): Outstanding Amounts (EUR mn) | 43,285.000 Mar 2024 | monthly | Dec 1998 - Mar 2024 |
Credit Inst Loans: Financial Intermediaries (FI): Outstanding Amounts (EUR mn) | 52,168.000 Mar 2024 | monthly | Jan 1999 - Mar 2024 |
Credit Inst Loans: Households (HH): Outstanding Amounts (OA) (EUR mn) | 254,068.000 Mar 2024 | monthly | Jan 1999 - Mar 2024 |
Credit Inst Loans: Non Financial Corporations (NF): Outstanding Amounts (EUR mn) | 153,822.000 Mar 2024 | monthly | Jan 1999 - Mar 2024 |
Non Performing Loans: Individuals: Outstanding Overdue Credits (EUR th) | 2,177,371.915 Mar 2024 | monthly | Jan 2007 - Mar 2024 |
Mortgage Credits (EUR mn) | 2,031.000 Feb 2024 | monthly | Jan 1995 - Feb 2024 |
Business and Economic Survey | Last | Frequency | Range |
---|---|---|---|
Business Confidence Growth (% Point) | -4.4 Apr 2024 | monthly | Jan 1981 - Apr 2024 |
Business Survey: sa: Construction: Carcasses: Appraisal: Order Book (% Point) | -11.200 Apr 2024 | monthly | Jan 1980 - Apr 2024 |
Business Survey: sa: Construction: Structural Engineering (% Point) | -8.500 Apr 2024 | monthly | Jan 1980 - Apr 2024 |
Business Survey: sa: Construction: Carcasses: Trend: Activity (% Point) | -8.200 Apr 2024 | monthly | Jan 1980 - Apr 2024 |
Business Survey: sa: Trade (% Point) | -18.100 Apr 2024 | monthly | Jan 1980 - Apr 2024 |
Business Survey: Seasonally Adjusted (sa): Aggregate (% Point) | -11.900 Apr 2024 | monthly | Jan 1980 - Apr 2024 |
More Indicators for Belgium
Request a demo of CEIC
CEIC’s economic databases cover over 200 global markets. Our Platform offers the most reliable macroeconomic data and advanced analytical tools.