Eurostat, the statistical office of the European Union

C2: National accounts - production

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For the countries belonging to the euro area, these are factors for converting euro fixed series (NAC) into euro/ECU series (EUR), and vice-versa.

National currencies

Not applicable.

Conversion factors

The aim of the conversion factors is to enable euro fixed series to be converted into euro/ECU series, and vice-versa. Euro fixed series can therefore be reconciled with the same series expressed in euro/ECU, without having first to convert data into the former national currency using the euro fixed rate.

The conversion factors for a particular euro-area country and time period are derived as follows.

Conversion factor   =        euro/ECU exchange rate of former currency

                                                             euro fixed rate

In order to convert euro fixed data into euro/ECU, divide by the conversion factor of that country for the relevant period. For converting euro/ECU data into euro fixed, multiply by the conversion factor. For greater accuracy, the conversion factors should be used non-rounded.

To obtain the 'old' national currency series from the euro fixed series, multiply the latter by the relevant euro fixed factor as shown in the above table on euro fixed rates.

Euro fixed series (NAC): national currency series for euro-area countries. This currency denomination should be used for single country time series. Prior to the adoption of the euro, the data are converted from the former national currency by applying the euro fixed rate.

Euro/ECU series (EUR): series expressed in euro (from 1 January 1999), and ECU (until 31st December 1998). The euro replaced the ECU on a 1 : 1 basis. This currency denomination should be used for cross-country comparisons and for aggregation.

Euro fixed rate: irrevocably fixed conversion rates of former national currencies into euro (1 EUR = ...), as shown in the following table:

Not applicable.

Not applicable.

Euro-area Member States, it comprises 20 Member States:

The lengths of series vary according to country. Series start in 1971 at the earliest, and end when the country enters the euro area. For 11 euro area Member States data are to 31/12/1998, Greece to 31/12/2000, Slovenia to 31/12/2006, Cyprus and Malta to 31/12/2007, Slovakia to 31/12/2008, Estonia to 31/12/2010, Latvia to 31/12/13, Lithuania to 31/12/14, Croatia to 31/12/22.

Not applicable.

Not applicable.

Monthly, quarterly and annual data are available as average and as value at end of period. 

The fixed conversion rates are adopted for the currency of each Member State of the euro area by the Council, in accordance with the first sentence of Article 123 (4) (ex-Article 109 l) of the Treaty establishing the European Community.

Not applicable.

Regulation (EC) No 223/2009 on European statistics (recital 24 and Article 20(4)) of 11 March 2009 (OJ L 87, p. 164), stipulates the need to establish common principles and guidelines ensuring the confidentiality of data used for the production of European statistics and the access to those confidential data with due account for technical developments and the requirements of users in a democratic society.

Not applicable.

Usually data are published one day after the reference period, t+1 day.

Not applicable.

In line with the Community legal framework and the European Statistics Code of Practice Eurostat disseminates European statistics on Eurostat's website (see item 10 - 'Accessibility and clarity') respecting professional independence and in an objective, professional and transparent manner in which all users are treated equitably. The detailed arrangements are governed by the Eurostat protocol on impartial access to Eurostat data for users.

Monthly, quarterly and annually

Not applicable

Please see the ECB website:

https://www.ecb.europa.eu/home/html/index.en.html

Please consult free data on-line: 

https://ec.europa.eu/eurostat

https://www.ecb.europa.eu/home/html/index.en.html 

Not applicable.

None.

Please see the ECB website: https://www.ecb.europa.eu/press/pr/date/1998/html/pr981231_2.en.html

Please see the "Framework for the euro foreign exchange reference rates".

Not available.

Not available.

Data are used to compile long time series covering periods before and after accession to the euro area.

Not available.

Data are complete from the beginning of each series of nominal bilateral exchange rates, on which the calculations are based.

No estimation; only mathematical calculation.

Not applicable.

Not applicable.

Usually data are published one day after the reference period, t+1 day. When a country enters the euro area, it is t+7 days.  

Not available.

The conversion factors are fully comparable.

The conversion factors are fully comparable

The statistics are fully reconcilable by reproducing them using the formula on which they are based.

Fully coherent internally.

None: The indicator is based on calculation and not based on any additional reporting. 

Not applicable.

Not available.

Nominal bilateral exchange rates from ECB.

Please see : https://www.ecb.europa.eu/press/pr/date/1998/html/pr981231_2.en.html

Annual, quarterly, monthly.

Not applicable.

Not applicable

Not applicable

Not applicable

None