## External Balance Assessment (EBA): Data and Estimates ## Source details **Canonical URL:** [External Balance Assessment (EBA): Data and Estimates](https://www.imf.org/en/np/res/eba/data) ## Other formats - [Markdown version](/en/np/res/eba/data/index.md) - [Structured JSON version](/en/np/res/eba/data/index.json) - [Bundle manifest](/en/np/res/eba/data/bundle-manifest.json) --- ### Overview and methodological evolution - The IMF's Research Department developed the External Balance Assessment (EBA) methodology for assessing current accounts and exchange rates. - Key methodological updates: - 2013: Original development of the EBA methodology. - 2015 modifications: extended the sample used in estimation (from 2010 to 2013), allowed nonlinearities in the impact of demographics, and added the REER level model to the EBA toolkit. - 2018 review: focused on (i) further extending the sample used in estimation (from 2013 to 2016); (ii) improving modeling of demographics, the measurement of external positions, and institutional quality; (iii) improving macroeconomic policy variables—foreign exchange intervention and credit excesses; and (iv) developing complementary tools to inform the role of structural and trade policies in explaining current account imbalances. - 2022 review: changes focused on (i) extending the sample used in estimation (until 2019, and including three additional countries); (ii) improving construction of the terms-of-trade and oil and gas reserves variables; (iii) including an IMF staff-produced measure of capital controls; and (iv) simplifying regression models by only keeping current account and exchange rate determinants that are statistically robust. - A description of the latest generation of the EBA models is available in IMF Working Paper No. 2023/047, issued on March 3, 2023. ### Publicly available outputs - EBA model results: - Estimates from the 2025 EBA exercise (analysis of 2024 current accounts and real effective exchange rates). - Estimates of earlier exercises: 2023 EBA, 2022 EBA, 2021 EBA, 2020 EBA, 2019 EBA, 2018 EBA, 2017 EBA, 2016 EBA, 2015 EBA, 2014 EBA. - Data inputs and codes: - Data inputs and programs used in the analysis of 2024 current accounts and (index) real effective exchange rates and level real effective exchange rates. - Includes coefficient estimates and graphical comparisons of actual and regression-implied values. - Data inputs for earlier vintages can be made available upon request. ### Data caveats and interpretation guidance - The EBA exercise drew on data and estimates available ahead of publication, some of which may have become outdated. - Some data may have different definitions or coverage than IMF or IMF member country statistics, and some data definitions may not be fully comparable across countries. - Some data, including for capital controls and foreign exchange intervention policies, are imperfect proxy measures. - Numerical values used in the exercise to indicate desirable policy settings may be benchmarks that do not always fully represent the views of IMF staff. - The information and estimates available are not to be considered as representing the assessments or views of the IMF or its Executive Board. ### Contact and update information - Questions should be sent to: media@imf.org - Last Updated: September 2025 --- ## Content in this bundle - [2014 EBA (summary unavailable) (PDF)](/-/media/files/np/res/eba/data/2014estimates.pdf){rel="external" type="application/pdf"} - **2015 EBA** - [2015 EBA (Markdown version)](/-/media/files/np/res/eba/data/2015estimates.pdf.md){rel="alternate" type="text/markdown"} - [2015 EBA (PDF)](/-/media/files/np/res/eba/data/2015estimates.pdf){rel="external" type="application/pdf"} - [2016 EBA (summary unavailable) (PDF)](/-/media/files/np/res/eba/data/2016estimates.pdf){rel="external" type="application/pdf"} - [2017 EBA (summary unavailable) (PDF)](/-/media/files/np/res/eba/data/ebaestimates-2017.pdf){rel="external" type="application/pdf"} - [2018 EBA (summary unavailable) (PDF)](/-/media/files/np/res/eba/data/ebaestimates-2018.pdf){rel="external" type="application/pdf"} - [2019 EBA (summary unavailable) (PDF)](/-/media/files/np/res/eba/data/ebaestimates-2019.pdf){rel="external" type="application/pdf"} - [2020 EBA (summary unavailable) (PDF)](/-/media/files/np/res/eba/data/ebaestimates-2020.pdf){rel="external" type="application/pdf"} - [2021 EBA (summary unavailable) (PDF)](/-/media/files/np/res/eba/data/ebaestimates-2021.pdf){rel="external" type="application/pdf"} - [2022 EBA (summary unavailable) (PDF)](/-/media/files/np/res/eba/data/ebaestimates-2022.pdf){rel="external" type="application/pdf"} - [(2023 EBA (summary unavailable) (PDF)](/-/media/files/np/res/eba/data/ebaestimates-2023.pdf){rel="external" type="application/pdf"} - [Estimates (summary unavailable) (PDF)](/-/media/files/np/res/eba/data/ebaestimates-2024.pdf){rel="external" type="application/pdf"} - [2013 External Balance Assessment (summary unavailable) (PDF)](/-/media/files/publications/np/res/eba/data/080913.pdf){rel="external" type="application/pdf"} - [2022 External Sector Report Online Annexes (summary unavailable) (PDF)](/-/media/files/publications/np/res/eba/data/onlineannexes.pdf){rel="external" type="application/pdf"} - [Technical Note Eba Refinements072017 (summary unavailable) (PDF)](/-/media/files/publications/np/res/eba/data/technical-note-eba-refinements072017.pdf){rel="external" type="application/pdf"} --- ## References - [External Sector Reports](https://www.imf.org/en/Publications/SPROLLs/External-Sector-Reports) - [The External Balance Assessment Methodology: 2018 Update](https://www.imf.org/en/Publications/WP/Issues/2019/03/19/The-External-Balance-Assessment-Methodology-2018-Update-46643) - [Emerging Markets Show Resilience Despite Global Monetary Tightening, July 12, 2024](https://www.imf.org/en/Blogs/Articles/2024/07/12/emerging-markets-show-resilience-despite-global-monetary-tightening?cid=ca-com-homepagebelt) - [Emerging Market Economies Bear the Brunt of a Stronger Dollar, July 19, 2023](https://www.imf.org/en/Blogs/Articles/2023/07/19/emerging-market-economies-bear-the-brunt-of-a-stronger-dollar) - [Global Current Account Balances Widen Amid War and Pandemic, August 4, 2022](https://www.imf.org/en/Blogs/Articles/2022/08/04/blog-global-current-account-balances-widen-amid-war-pandemic-080422) - [How the Pandemic Widened Global Current Account Balances, August 2, 2021](https://www.imf.org/en/Blogs/Articles/2021/08/02/blog-how-the-pandemic-widened-global-current-account-balances) - [Global Imbalances and the COVID-19 Crisis, August 4, 2020](https://www.imf.org/en/Blogs/Articles/2020/08/04/blog-global-rebalancing-and-the-covid19-crisis) - [External Balance Assessment (EBA) methodology](https://www.imf.org/en/publications/wp/issues/2023/03/02/2022-update-of-the-external-balance-assessment-methodology-530509) _Source: https://www.imf.org/en/np/res/eba/data_