Chapter

STATISTICAL APPENDIX

Author(s):
International Monetary Fund. Research Dept.
Published Date:
April 2008
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The Statistical Appendix presents historical data, as well as projections. It comprises five sections: Assumptions, What’s New, Data and Conventions, Classification of Countries, and Statistical Tables.

The assumptions underlying the estimates and projections for 2008–09 and the medium-term scenario for 2010–13 are summarized in the first section. The second section presents a brief description of changes to the database and statistical tables. The third section provides a general description of the data and of the conventions used for calculating country group composites. The classification of countries in the various groups presented in the World Economic Outlook is summarized in the fourth section.

The last, and main, section comprises the statistical tables. Data in these tables have been compiled on the basis of information available through end-March 2008. The figures for 2008 and beyond are shown with the same degree of precision as the historical figures solely for convenience; because they are projections, the same degree of accuracy is not to be inferred.

Assumptions

Real effective exchange rates for the advanced economies are assumed to remain constant at their average levels during the period January 30 to February 27, 2008. For 2008 and 2009, these assumptions imply average U.S. dollar/SDR conversion rates of 1.504 and 1.510, U.S. dollar/euro conversion rates of 1.47 and 1.48, and yen/U.S. dollar conversion rates of 106.7 and 105.9, respectively.

It is assumed that the price of oil will average $95.50 a barrel in 2008 and $94.50 a barrel in 2009.

Established policies of national authorities are assumed to be maintained. The more specific policy assumptions underlying the projections for selected advanced economies are described in Box A1.

Box A1.Economic Policy Assumptions Underlying the Projections for Selected Economies

The short-term fiscal policy assumptions used in the World Economic Outlook are based on officially announced budgets, adjusted for differences between the national authorities and the IMF staff regarding macroeconomic assumptions and projected fiscal outturns. The medium-term fiscal projections incorporate policy measures that are judged likely to be implemented. In cases where the IMF staff has insufficient information to assess the authorities’ budget intentions and prospects for policy implementation, an unchanged structural primary balance is assumed, unless otherwise indicated. Specific assumptions used in some of the advanced economies follow (see also Tables B5–B7 in the Statistical Appendix for data on fiscal and structural balances).1

United States. The fiscal projections are based on the administration’s fiscal year 2009 budget. Adjustments are made to account for differences in macroeconomic projections as well as IMF staff assumptions about (1) additional defense spending based on analysis by the Congressional Budget Office, (2) slower compression in the growth rate of discretionary spending, (3) continued alternative minimum tax relief beyond fiscal year 2009, and (4) an economic stimulus package similar to recent proposals by the president and members of Congress. Projections also assume that proposed Medicare savings are achieved only partially and that personal retirement accounts are not introduced.

Japan. The medium-term fiscal projections assume that expenditure and revenue of the general government (excluding social security) are adjusted in line with the current government target to achieve primary fiscal balance (excluding social security) by fiscal year 2011.

Germany. Projections reflect the measures announced in the Stability Program Update 2007. Projections for 2008 include a loss in revenue owing to corporate tax reform and a cut in social security contribution rates (unemployment insurance). Over the medium term, the path of health expenditures accelerates as a result of aging and cost increases because significant health care reform measures have not been taken.

France. The 2007 fiscal estimates incorporate the end-year corrective budget law. For 2008, the fiscal projections are based on the budget law and assume higher social security spending growth, largely owing to higher-than-targeted increases in health care outlays. Medium-term projections reflect the authorities’ official tax revenue forecast but assume different spending (less deceleration) and nontax revenue profiles, consistent with an unchanged policy assumption.

Italy. For 2007, the deficit number reflects the IMF staff’s estimated outcome. For 2008, the deficit projection is based on the IMF staff’s assessment of this year’s budget, adjusted for recent macroeconomic and fiscal developments, specifically lower growth and prior spending commitments that would have to be executed in 2008. For 2009–12, a constant structural primary balance (net of one-off measures) is assumed.

United Kingdom. The projection for 2007–08 assumes that the pattern seen through December will continue in the last quarter of the fiscal year. The medium-term revenue projections are based on economic assumptions, with some modest buoyancy built in, although not as much as assumed by the authorities. The expenditure projections assume that after some slippage in 2007–08, the planned consolidation, set out in the Pre-Budget Report, will continue in terms of the percent of GDP through 2012–13.

Canada. Projections use the baseline forecast in the 2007 Economic Statement. The IMF staff makes some adjustments to this forecast for differences in macroeconomic projections. The IMF staff forecast also incorporates the most recent data releases from Statistics Canada, including provincial and territorial budgetary outturns through the second quarter of 2007.

Australia. The fiscal projections through fiscal year 2010/11 are based on the Mid-Year Economic and Fiscal Outlook published in October 2007. For the remainder of the projection period, the IMF staff assumes unchanged policies.

Austria. Projections for 2007 and beyond are IMF staff projections based on current policies.

Brazil. The fiscal projections for 2008 are based on the 2008 budget guidelines law and recent pronouncements by the authorities regarding their policy intentions. For the outer years, the IMF staff assumes unchanged policies, with a further increase in public investment in line with the authorities’ intentions.

Belgium. After the June 2007 federal elections, disagreements on reforms of fiscal federalism arrangements have led to more than six months of political division. At the date of submission, the Budget Report for 2008 was not yet available. Projections for 2008 and 2009 are IMF staff estimates adjusted for macroeconomic assumptions and assuming unchanged policies.

China. Projections for 2007 are based on IMF staff estimates and data for the first 11 months, with some adjustment for the IMF staff’s defini-tion of overall budget balance. For 2008–13, IMF staff projections assume that spending, especially in social sectors, will increase, with the deficit roughly constant at its projected 2008 level (about 1 percent of GDP).

Denmark. Estimates for 2007 and projections for 2008 are aligned with the latest official budget estimates and the underlying projections, adjusted where appropriate for the IMF staff’s macroeconomic assumptions. For 2009–13, the projections incorporate key features of the prior medium-term fiscal plan as embodied in the authorities’ November 2007 Convergence Program submitted to the European Union (EU). The projections imply convergence of the budget toward a close-to-balanced position from an initial surplus position. This is consistent with the authorities’ projection of a closure of the output gap over the medium term, as well as being in line with their objectives for long-term fiscal sustainability and debt reduction.

Greece. Projections are based on the 2008 budget, the latest Stability Program, and other forecasts provided by the authorities. According to preliminary estimates by the European Commission, the revision of gross national income could lead to a permanent increase of Greece’s contribution to the EU budget of less than ¼ percent of GDP, as well as a one-off payment of arrears of such a contribution of about ¾ percent of GDP, which could accrue to the 2007 balance. These possible contributions are not reflected in the IMF staff projections.

Hong Kong SAR. Fiscal projections for 2007–10 are consistent with the authorities’ medium-term strategy as outlined in the fiscal year 2007/08 budget, with projections for 2011–12 based on the assumptions underlying the IMF staff’s medium-term macroeconomic scenario.

India. Estimates for 2007 are based on data on budgetary execution. Projections for 2008 and beyond are based on available information on the authorities’ fiscal plans (the 2008–09 budget was expected on February 29, 2008), with some adjustments for the IMF staff’s assumptions.

Korea. Projections reflect advance GDP estimates for 2007, as well as the 2008 budget, and the five-year medium-term budget for 2009–13, with some adjustment for the IMF staff’s assumptions and macroeconomic projections.

Mexico. Fiscal projections for 2008 build on the authorities’ budget. Projections for 2009 and beyond are based on IMF staff calculations in line with the Federal Government Fiscal Responsibility Law, requiring a zero overall balance on the traditional (budget) definition.

Netherlands. The fiscal projections build on the 2007 budget, the latest Stability Program, and other forecasts provided by the authorities.

New Zealand. The fiscal projections through fiscal year 2010/11 are based on the Half-Year Economic and Fiscal Update released in December 2007. For the remainder of the projection period, the IMF staff assumes unchanged policies. The New Zealand fiscal account switched to new Generally Accepted Accounting Principles beginning in fiscal year 2006/07, with no comparable back data.

Portugal. Fiscal projections through 2010 are based on the IMF staff’s assessment of the 2007 budget and the authorities’ projections presented in the 2007 Stability Program. In subsequent years, the fiscal projections assume maintaining the primary balance excluding age-related expenditures.

Singapore. For fiscal year 2007/08, expenditure projections are based on budget numbers, whereas revenue projections reflect the IMF staff’s estimates of the impact of new policy measures, including an increase in the goods and services tax. Medium-term revenue projections assume that capital gains on fiscal reserves will be included in investment income.

Spain. Fiscal projections through 2010 are based on the 2008 budget; policies outlined in the authorities’ updated Stability Program 2007– 10, adjusted for the IMF staff’s macroeconomic assumptions, information from recent statistical releases, and official announcements. In subsequent years, the fiscal projections assume unchanged policies.

Sweden. The fiscal projections are based on information provided in the 2008 Budget Bill (October 2007), with adjustments reflecting incoming fiscal data and the IMF staff’s views on the macroeconomic environment.

Switzerland. Projections for 2007–12 are based on IMF staff calculations, which incorporate measures to restore balance in the federal accounts and strengthen social security finances.

Monetary policy assumptions are based on the established policy framework in each country. In most cases, this implies a nonac-commodative stance over the business cycle: official interest rates will therefore increase when economic indicators suggest that infla-tion will rise above its acceptable rate or range, and they will decrease when indicators suggest that prospective inflation will not exceed the acceptable rate or range, that prospective output growth is below its potential rate, and that the margin of slack in the economy is sig-nificant. On this basis, the London interbank offered rate (LIBOR) on six-month U.S. dollar deposits is assumed to average 3.1 percent in 2008 and 3.4 percent in 2009 (see Table 1.1). The rate on three-month euro deposits is assumed to average 4.0 percent in 2008 and 3.6 percent in 2009. The interest rate on six-month Japanese yen deposits is assumed to average 1.0 percent in 2008 and 0.8 percent in 2009.

1 The output gap is actual minus potential output, as a percent of potential output. Structural balances are expressed as a percent of potential output. The structural budget balance is the budgetary position that would be observed if the level of actual output coincided with potential output. Changes in the structural budget balance consequently include effects of temporary fiscal measures, the impact of fluctua-tions in interest rates and debt-service costs, and other noncyclical fluctuations in the budget balance. The computations of structural budget balances are based on IMF staff estimates of potential GDP and revenue and expenditure elasticities (see the October 1993 World Economic Outlook, Annex I). Net debt is defined as gross debt minus financial assets of the general government, which include assets held by the social security insurance system. Estimates of the output gap and of the structural balance are subject to significant margins of uncertainty.

With regard to interest rates, it is assumed that the London interbank offered rate (LIBOR) on six-month U.S. dollar deposits will average 3.1 percent in 2008 and 3.4 percent in 2009, that three-month euro deposits will average 4.0 percent in 2008 and 3.6 percent in 2009, and that six-month Japanese yen deposits will average 1.0 percent in 2008 and 0.8 percent in 2009.

With respect to introduction of the euro, on December 31, 1998, the Council of the European Union decided that, effective January 1, 1999, the irrevocably fixed conversion rates between the euro and currencies of the member states adopting the euro are as follows.

1 euro = 13.7603Austrian schillings
= 40.3399Belgian francs
= 0.585274Cyprus pound1
= 1.95583Deutsche mark
= 5.94573Finnish markkaa
= 6.55957French francs
= 340.750Greek drachma2
= 0.787564Irish pound
= 1,936.27Italian lire
= 40.3399Luxembourg francs
= 0.42930Maltese lira3
= 2.20371Netherlands guilders
= 200.482Portuguese escudos
= 239.640Slovenian tolars4
= 166.386Spanish pesetas

See Box 5.4 of the October 1998 World Economic Outlook for details on how the conversion rates were established.

What’s New

On January 1, 2008, Cyprus and Malta became members of the euro area, bringing the total number of euro countries to 15; the country composition of the fuel-exporting group has been revised to reflect the periodic update of the classification criteria; and the purchasing-power-parity (PPP) weights have been updated to reflect the most up-to-date PPP conversion factor provided by the International Comparison Program.

Data and Conventions

Data and projections for 183 countries form the statistical basis for the World Economic Outlook (the World Economic Outlook database). The data are maintained jointly by the IMF’s Research Department and area departments, with the latter regularly updating country projections based on consistent global assumptions.

Although national statistical agencies are the ultimate providers of historical data and definitions, international organizations are also involved in statistical issues, with the objective of harmonizing methodologies for the national compilation of statistics, including the analytical frameworks, concepts, definitions, classifications, and valuation procedures used in the production of economic statistics. The World Economic Outlook database reflects information from both national source agencies and international organizations.

The comprehensive revision of the standardized System of National Accounts 1993 (SNA), the IMF’s Balance of Payments Manual, Fifth Edition (BPM5), the Monetary and Financial Statistics Manual (MFSM), and the Government Finance Statistics Manual 2001 (GFSM 2001) represented significant improvements in the standards of economic statistics and analysis.5 The IMF was actively involved in all these projects, particularly the Balance of Payments, Monetary and Financial Statistics, and Government Finance Statistics manuals, which reflects the IMF’s special interest in countries’ external positions, financial sector stability, and public sector fiscal positions. The process of adapting country data to the new definitions began in earnest when the manuals were released. However, full concordance with the manuals is ultimately dependent on the provision by national statistical compilers of revised country data, and hence the World Economic Outlook estimates are still only partially adapted to these manuals.

In line with recent improvements in standards for reporting economic statistics, several countries have phased out their traditional fixed-base-year method of calculating real macroeconomic variables levels and growth by switching to a chain-weighted method of computing aggregate growth. Recent dramatic changes in the structure of these economies have caused these countries to revise the way in which they measure real GDP levels and growth. Switching to the chain-weighted method of computing aggregate growth, which uses current price information, allows countries to measure GDP growth more accurately by eliminating upward biases in new data.6 Currently, real macroeconomic data for Albania, Australia, Austria, Azerbaijan, Belgium, Canada, Cyprus, the Czech Republic, Denmark, the euro area, Finland, France, Georgia, Germany, Greece, Hong Kong SAR, Iceland, Ireland, Italy, Japan, Kazakhstan, Lithuania, Luxembourg, Malta, the Netherlands, New Zealand, Norway, Poland, Portugal, Russia, Slovenia, Spain, Sweden, Switzerland, the United Kingdom, and the United States are based on chain-weighted methodology. However, data before 1996 (Albania), 1994 (A zerbaijan), 1995 (Belgium), 1995 (Cy prus), 1995 (Czech Republic), 1995 (euro area), 1996 (Georgia), 1991 (Germany), 2000 (Greece), 1990 (Iceland), 1995 (Ireland), 1994 ( Japan), 1994 (Kazakhstan), 1995 (Luxembourg), 2000 (Malta), 1995 (Poland), 1995 (Russia), 1995 (Slovenia), and 1995 (Spain) are based on unre-vised national accounts and subject to revision in the future.

The members of the European Union have adopted a harmonized system for the compilation of national accounts, referred to as ESA 1995. All national accounts data from 1995 onward are presented on the basis of the new system. Revision by national authorities of data prior to 1995 to conform to the new system has progressed but, in some cases, has not been completed. In such cases, historical World Economic Outlook data have been carefully adjusted to avoid breaks in the series. Users of EU national accounts data prior to 1995 should nevertheless exercise caution until such time as the revision of historical data by national statistical agencies has been fully completed. See Box 1.2 of the May 2000 World Economic Outlook.

Composite data for country groups in the World Economic Outlook are either sums or weighted averages of data for individual countries. Unless otherwise indicated, multiyear averages of growth rates are expressed as compound annual rates of change.7 Arithmetically weighted averages are used for all data except inflation and money growth for the emerging and developing economies group, for which geometric averages are used. The following conventions apply.

  • Country group composites for exchange rates, interest rates, and the growth rates of monetary aggregates are weighted by GDP converted to U.S. dollars at market exchange rates (averaged over the preceding three years) as a share of group GDP.
  • Composites for other data relating to the domestic economy, whether growth rates or ratios, are weighted by GDP valued at PPPs as a share of total world or group GDP.8
  • Composites for data relating to the domestic economy for the euro area (15 member countries throughout the entire period unless otherwise noted) are aggregates of national source data using GDP weights. Annual data are not adjusted for calendar day effects. For data prior to 1999, data aggregations apply 1995 European currency unit exchange rates.
  • Composite unemployment rates and employment growth are weighted by labor force as a share of group labor force.
  • Composites relating to the external economy are sums of individual country data after conversion to U.S. dollars at the average market exchange rates in the years indicated for balance of payments data and at end-of-year market exchange rates for debt denominated in currencies other than U.S. dollars. Composites of changes in foreign trade volumes and prices, however, are arithmetic averages of percent changes for individual countries weighted by the U.S. dollar value of exports or imports as a share of total world or group exports or imports (in the preceding year).

For central and eastern European countries, external transactions in nonconvertible currencies (through 1990) are converted to U.S. dollars at the implicit U.S. dollar/ruble conversion rates obtained from each country’s national currency exchange rate for the U.S. dollar and for the ruble.

All data refer to calendar years, except for the following countries, which refer to fiscal years: Australia (July/June), Egypt (July/June), Haiti (October/September), Islamic Republic of Iran (April/March), Mauritius (July/June), Myanmar (April/March), Nepal (July/June), New Zealand (July/June), Pakistan (July/June), Samoa (July/June), and Tonga (July/June).

Classification of Countries

Summary of the Country Classification

The country classification in the World Economic Outlook divides the world into two major groups: advanced economies, and emerging and developing economies.9 Rather than being based on strict criteria, economic or otherwise, this classification has evolved over time with the objective of facilitating analysis by providing a reasonably meaningful organization of data. Table A provides an overview of these standard groups in the World Economic Outlook, showing the number of countries in each group and the average 2007 shares of groups in aggregate PPP-valued GDP, total exports of goods and services, and population.

Table A.Classification by World Economic Outlook Groups and Their Shares in Aggregate GDP, Exports of Goods and Services, and Population, 20071

(Percent of total for group or world)

Number of CountriesGDPExports of Goods and ServicesPopulation
Advanced economiesWorldAdvanced economiesWorldAdvanced economiesWorld
Advanced economies31100.056.4100.066.4100.015.3
United States37.921.414.49.630.74.7
Euro area1528.616.144.429.532.34.9
Germany7.74.313.89.28.41.3
France5.63.26.04.06.31.0
Italy4.92.85.63.76.00.9
Spain3.72.13.42.24.60.7
Japan11.76.67.24.713.02.0
United Kingdom5.93.36.44.26.20.9
Canada3.52.04.42.93.30.5
Other advanced economies1212.57.023.315.414.52.2
Memorandum
Major advanced economies777.243.557.838.473.811.3
Newly industrialized Asian economies46.63.713.58.98.41.3
Emerging and developing economiesWorldEmerging and developing economiesWorldEmerging and developing economiesWorld
Emerging and developing economies141100.043.6100.033.6100.084.7
Regional groups
Africa476.93.07.42.515.112.8
Sub-Sahara445.32.35.51.913.711.6
Excluding Nigeria and South Africa422.81.22.81.010.28.6
Central and eastern Europe139.34.113.84.63.32.8
Commonwealth of Independent States21310.24.510.23.45.14.3
Russia7.33.26.82.32.62.2
Developing Asia2346.020.139.313.262.052.6
China24.810.823.37.824.220.5
India10.54.64.01.320.617.5
Excluding China and India2110.64.612.14.117.214.6
Middle East138.73.814.04.74.43.7
Western Hemisphere3219.08.315.25.110.18.6
Brazil6.42.83.21.13.52.9
Mexico4.82.15.11.71.91.6
Analytical groups
By source of export earnings
Fuel2419.48.426.58.911.19.4
Nonfuel11780.635.273.524.788.975.3
of which, primary products201.70.72.20.74.03.4
By external financing source
Net debtor countries11655.024.047.516.064.554.6
of which, official financing303.41.52.40.810.69.0
Net debtor countries by debt-

servicing experience
Countries with arrears and/or

rescheduling during 2002–06
499.64.26.92.317.214.5
Other net debtor countries6745.419.840.513.647.340.1
Other groups
Heavily indebted poor countries311.80.81.30.48.57.2
Middle East and North Africa1910.64.616.15.46.55.5

The GDP shares are based on the purchasing-power-parity (PPP) valuation of country GDPs. The number of countries comprising each group reflects those for which data are included in the group aggregates.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

The GDP shares are based on the purchasing-power-parity (PPP) valuation of country GDPs. The number of countries comprising each group reflects those for which data are included in the group aggregates.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

Table B.Advanced Economies by Subgroup
Other Subgroups
Major Currency AreasEuro areaNewly industrialized

Asian economies
Major advanced

economies
Other advanced economies
United StatesAustriaItalyHong Kong SAR1CanadaAustraliaNew Zealand
Euro areaBelgiumLuxembourgKoreaFranceDenmarkNorway
JapanCyprusMaltaSingaporeGermanyHong Kong SAR1Singapore
FinlandNetherlandsTaiwan Province of ChinaItalyIcelandSweden
FrancePortugalJapanIsraelSwitzerland
GermanySloveniaUnited KingdomKoreaTaiwan Province of China
GreeceSpainUnited States
Ireland

On July 1, 1997, Hong Kong was returned to the People’s Republic of China and became a Special Administrative Region of China.

On July 1, 1997, Hong Kong was returned to the People’s Republic of China and became a Special Administrative Region of China.

A few countries are currently not included in these groups, either because they are not IMF members and their economies are not monitored by the IMF or because databases have not yet been fully developed. Because of data limitations, group composites do not reflect the following countries: the Islamic Republic of Afghanistan, Bosnia and Herzegovina, Brunei Darussalam, Eritrea, Iraq, Liberia, the Republic of Montenegro, Serbia, Somalia, Timor-Leste, and Zimbabwe. Cuba and the Democratic People’s Republic of Korea are examples of countries that are not IMF members, whereas San Marino, among the advanced economies, and Aruba, Marshall Islands, Federated States of Micronesia, and Palau, among the developing economies, are examples of countries for which databases have not been completed.

General Features and Composition of Groups in the World Economic Outlook Classification

Advanced Economies

The 31 advanced economies are listed in Table B. The seven largest in terms of GDP—the United States, Japan, Germany, France, Italy, the United Kingdom, and Canada—constitute the subgroup of major advanced economies, often referred to as the Group of Seven (G7). The 15 members of the euro area and the four newly industrialized Asian economies are also distinguished as subgroups. Composite data shown in the tables for the euro area cover the current members for all years, even though the membership has increased over time.

In 1991 and subsequent years, data for Germany refer to west Germany and the eastern Länder (that is, the former German Democratic Republic). Before 1991, economic data were not available on a unified basis or in a consistent manner. Hence, in tables featuring data expressed as annual percent change, these apply to west Germany in years up to and including 1991, but to unified Germany from 1992 onward. In general, data on national accounts and domestic economic and financial activity through 1990 cover west Germany only, whereas data for the central government and balance of payments apply to west Germany through June 1990 and to unified Germany thereafter.

Table C lists the member countries of the European Union, not all of which are classified as advanced economies in the World Economic Outlook.

Table C.European Union
AustriaFinlandLatviaRomania
BelgiumFranceLithuaniaSlovak Republic
BulgariaGermanyLuxembourgSlovenia
CyprusGreeceMaltaSpain
Czech RepublicHungaryNetherlandsSweden
DenmarkIrelandPolandUnited Kingdom
EstoniaItalyPortugal

Emerging and Developing Economies

The group of emerging and developing economies (141 countries) includes all countries that are not classified as advanced economies.

The regional breakdowns of emerging and developing economies—Africa, central and eastern Europe, Commonwealth of Independent States, developing Asia, Middle East, and Western Hemisphere—largely conform to the regional breakdowns in the IMF’s International Financial Statistics. In both classifications, Egypt and the Socialist People’s Libyan Arab Jamahiriya are included in the Middle East region rather than in Africa. In addition, the World Economic Outlook sometimes refers to the regional group of Middle East and North African countries, also referred to as the MENA countries, whose composition straddles the Africa and Middle East regions. This group is defined as the Arab League countries plus the Islamic Republic of Iran (see Table D).

Table D.Middle East and North African Countries
AlgeriaJordanMoroccoSyrian Arab Republic
BahrainKuwaitOmanTunisia
DjiboutiLebanonQatarUnited Arab Emirates
EgyptLibyaSaudi ArabiaYemen, Rep. of
Iran, I.R. ofMauritaniaSudan

Emerging and developing economies are also classified according to analytical criteria. The analytical criteria reflect countries’ composition of export earnings and other income from abroad; exchange rate arrangements; a distinction between net creditor and net debtor countries; and, for the net debtor countries, financial criteria based on external financing sources and experience with external debt servicing. The detailed composition of emerging and developing economies in the regional and analytical groups is shown in Tables E and F.

Table E.Emerging and Developing Economies by Region and Main Source of Export Earnings
FuelNonfuel Primary

Products
AfricaAlgeriaBotswana
AngolaBurkina Faso
Congo, Rep. ofBurundi
Equatorial GuineaChad
GabonCongo, Dem.
NigeriaRep. of
SudanGuinea
Guinea-Bissau
Malawi
Mauritania
Mozambique
Sierra Leone
Zambia
CommonwealthAzerbaijanMongolia
of IndependentKazakhstanTajikistan
StatesRussiaUzbekistan
Turkmenistan
Developing AsiaPapua New Guinea
Solomon Islands
Middle EastBahrain
Iran, I.R. of
Kuwait
Libya
Oman
Qatar
Saudi Arabia
Syrian Arab Republic
United Arab Emirates
Yemen, Rep. of
WesternEcuadorChile
HemisphereTrinidad and TobagoGuyana
Venezuela, Rep.Suriname
Boliv. de
Note: Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.
Note: Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.
Table F.Other Emerging Market and Developing Countries by Region, Net External Position, and Heavily Indebted Poor Countries
Net External

Position
Heavily

Indebted

Poor

Countries
Net

creditor
Net

debtor1
Africa
Maghreb
Algeria*
Morocco*
Tunisia*
Sub-Sahara
South Africa*
Horn of Africa
Djibouti*
Ethiopia*
Sudan*
Great Lakes
Burundi*
Congo, Dem. Rep. of**
Kenya*
Rwanda*
Tanzania*
Uganda**
Southern Africa
Angola*
Botswana*
Comoros
Lesotho*
Madagascar*
Malawi*
Mauritius*
Mozambique**
Namibia*
Seychelles*
Swaziland*
Zambia*
West and Central Africa
Cape Verde*
Gambia, The**
Ghana*
Guinea**
Mauritania**
São Tomé and Príncipe**
Sierra Leone*
CFA franc zone
Benin**
Burkina Faso*
Cameroon**
Central African Republic*
Chad**
Congo, Rep. of*
Côte d’Ivoire*
Equatorial Guinea*
Gabon*
Guinea-Bissau**
Mali**
Niger*
Senegal**
Togo*
Middle East
Bahrain*
Iran, I.R. of*
Kuwait*
Libya*
Oman*
Qatar*
Saudi Arabia*
United Arab Emirates*
Yemen, Rep. of*
Mashreq
Egypt*
Jordan*
Lebanon*
Syrian Arab Republic*
Western Hemisphere
Mexico*
South America
Argentina*
Brazil*
Bolivia*
Chile*
Colombia*
Ecuador*
Paraguay*
Central and eastern Europe
Albania*
Bulgaria*
Croatia*
Czech Republic*
Estonia*
Hungary*
Latvia*
Lithuania*
Poland*
Romania*
Slovak Republic*
Turkey*
Commonwealth of

Independent States2
Armenia
Azerbaijan*
Belarus*
Georgia*
Kazakhstan*
Kyrgyz Republic*
Moldova*
Mongolia
Russia*
Tajikistan*
Turkmenistan*
Ukraine*
Uzbekistan*
Developing Asia
Bhutan
Cambodia
China*
Fiji*
Indonesia*
Kiribati*
Lao PDR*
Malaysia*
Myanmar*
Papua New Guinea*
Philippines*
Samoa*
Solomon Islands
Thailand*
Tonga
Vanuatu*
Vietnam
South Asia
Bangladesh
India*
Maldives*
Nepal
Pakistan*
Sri Lanka
Peru*
Uruguay
Venezuela, Rep. Boliv. de*
Central America
Costa Rica*
El Salvador
Guatemala*
Honduras**
Nicaragua**
Panama*
Caribbean
Antigua and Barbuda*
Bahamas, The*
Barbados*
Belize*
Dominica*
Dominican Republic*
Grenada
Guyana**
Haiti*
Jamaica*
St. Kitts and Nevis*
St. Lucia*
St. Vincent and the Grenadines
Suriname*
Trinidad and Tobago*

Dot instead of star indicates that the net debtor’s main external finance source is official financing.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

Dot instead of star indicates that the net debtor’s main external finance source is official financing.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

The analytical criterion, by source of export earnings, distinguishes between categories: fuel (Standard International Trade Classification— SITC 3) and nonfuel and then focuses on nonfuel primary products (SITCs 0, 1, 2, 4, and 68).

The financial criteria focus on net creditor countries, net debtor countries, and heavily indebted poor countries (HIPCs). Net debtor countries are further differentiated on the basis of two additional financial criteria: by official external financing and by experience with debt servicing.10 The HIPC group comprises the countries considered by the IMF and the World Bank for their debt initiative, known as the HIPC Initiative, with the aim of reducing the external debt burdens of all the eligible HIPCs to a “sustainable” level in a reasonably short period of time.11

List of Tables

Medium-Term Baseline Scenario

Table A1.Summary of World Output1(Annual percent change)
Average

1990–99
20002001200220032004200520062007200820092013
World2.94.72.22.83.64.94.45.04.93.73.84.9
Advanced economies2.73.91.21.61.93.22.63.02.71.31.32.9
United States3.13.70.81.62.53.63.12.92.20.50.63.2
Euro area3.81.90.90.82.11.62.82.61.41.22.4
Japan1.52.90.20.31.42.71.92.42.11.41.51.7
Other advanced economies23.35.21.73.22.54.13.23.83.92.52.73.4
Emerging and developing economies3.25.93.84.76.27.57.17.87.96.76.67.0
Regional groups
Africa2.33.54.96.15.36.55.75.96.26.36.45.3
Central and eastern Europe1.24.90.44.24.86.96.16.65.84.44.35.0
Commonwealth of Independent States39.16.15.27.88.26.58.28.57.06.55.7
Developing Asia7.26.95.86.98.18.69.09.69.78.28.48.9
Middle East4.35.43.03.96.95.95.75.85.86.16.16.0
Western Hemisphere2.94.10.70.42.16.24.65.55.64.43.64.0
Memorandum
European Union2.03.92.11.41.52.72.13.33.11.81.72.8
Analytical groups
By source of export earnings
Fuel−0.27.04.54.86.87.76.87.27.36.76.45.3
Nonfuel4.25.63.74.76.07.57.17.98.06.76.77.4
of which, primary products3.13.34.03.54.87.25.94.95.75.45.65.3
By external financing source
Net debtor countries3.14.72.23.24.56.45.96.76.55.65.55.8
of which, official financing4.34.84.23.95.36.57.07.16.86.46.56.5
Net debtor countries by debt-servicing experience
Countries with arrears and/or

rescheduling during 2002–06
3.23.22.41.45.56.66.56.56.56.16.05.7
Memorandum
Median growth rate
Advanced economies3.03.91.91.81.93.73.13.43.52.01.92.8
Emerging and developing economies3.34.53.74.04.85.45.56.16.05.45.25.0
Output per capita
Advanced economies2.03.30.60.91.22.51.92.42.10.80.82.4
Emerging and developing economies1.64.52.43.44.96.25.86.56.65.45.45.8
World growth based on market exchange rates2.44.11.51.92.64.03.43.93.72.62.64.0
Value of world output in billions

of U.S. dollars
At market exchange rates27,33331,82331,58332,85436,93141,54644,88148,43654,31260,10963,35481,978
At purchasing power parities31,71541,58343,49445,45748,05251,77555,70360,29564,90368,62472,44994,384

Real GDP.

In this table, “other advanced economies” means advanced economies excluding the United States, euro area countries, and Japan.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

Real GDP.

In this table, “other advanced economies” means advanced economies excluding the United States, euro area countries, and Japan.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

Table A2.Advanced Economies: Real GDP and Total Domestic Demand(Annual percent change)
Fourth Quarter1
Average

1990–99
20002001200220032004200520062007200820092013200720082009
Real GDP
Advanced economies2.73.91.21.61.93.22.63.02.71.31.32.92.60.52.1
United States3.13.70.81.62.53.63.12.92.20.50.63.22.5−0.71.6
Euro area3.81.90.90.82.11.62.82.61.41.22.42.20.91.6
Germany2.33.11.2−0.31.10.82.92.51.41.02.01.80.81.6
France1.93.91.91.01.12.51.72.01.91.41.22.62.10.91.9
Italy1.43.61.80.51.50.61.81.50.30.31.4−0.10.2
Spain2.85.13.62.73.13.33.63.93.81.81.73.83.50.92.4
Netherlands3.13.91.90.10.32.21.53.03.52.11.62.34.30.23.1
Belgium2.33.90.71.41.02.82.02.92.71.41.22.02.40.81.7
Austria2.73.40.80.91.22.32.03.33.41.91.72.23.01.12.2
Finland1.55.02.61.61.83.72.84.94.42.42.12.43.81.72.9
Greece1.94.54.53.95.04.63.84.24.03.53.33.53.73.53.2
Portugal3.43.92.00.8−0.81.50.91.31.91.31.42.32.01.11.6
Ireland6.99.15.96.44.34.35.95.75.31.83.04.13.93.64.6
Luxembourg4.78.42.54.12.14.95.06.15.43.13.23.54.32.93.7
Slovenia4.13.13.72.84.44.15.76.14.13.54.34.63.45.4
Cyprus3.75.04.02.11.94.23.94.04.43.43.54.04.33.23.7
Malta5.0−1.0−1.62.6−0.30.23.43.43.82.22.03.13.71.62.3
Japan1.52.90.20.31.42.71.92.42.11.41.51.71.71.31.5
United Kingdom2.13.82.42.12.83.31.82.93.11.61.62.72.90.92.3
Canada2.45.21.82.91.93.13.12.82.71.31.92.62.90.92.8
Korea6.18.53.87.03.14.74.25.15.04.24.44.65.92.65.9
Australia3.33.42.14.13.03.82.82.83.93.23.13.53.93.42.8
Taiwan Province of China6.55.8−2.24.63.56.24.24.95.73.44.15.06.41.08.4
Sweden1.74.41.12.41.94.13.34.12.62.01.72.42.61.32.2
Switzerland1.13.61.20.4−0.22.52.43.23.11.30.91.83.6−0.42.2
Hong Kong SAR3.58.00.51.83.08.57.17.06.34.34.85.06.82.68.1
Denmark2.43.50.70.50.42.32.53.91.81.20.51.62.00.60.5
Norway3.63.32.01.51.03.92.72.53.53.12.31.84.62.22.2
Israel5.28.9−0.4−0.62.35.25.35.25.33.03.43.76.82.54.0
Singapore7.510.1−2.44.23.59.07.38.27.74.04.55.55.44.94.9
New Zealand2.53.92.75.23.44.52.81.53.02.02.12.83.12.52.3
Iceland2.34.33.90.12.47.77.54.43.80.40.13.212.70.5−1.8
Memorandum
Major advanced economies2.53.61.01.21.83.02.32.72.20.90.92.62.10.11.6
Newly industrialized Asian economies6.17.71.25.53.25.94.85.65.64.04.44.86.12.46.8
Real total domestic demand
Advanced economies2.74.01.11.72.13.32.62.82.20.91.22.8
United States3.34.40.92.22.84.13.12.81.5−0.60.13.11.6−1.71.5
Euro area3.41.20.41.51.91.82.62.01.41.22.41.91.11.4
Germany2.32.2−0.5−2.00.6−0.20.31.90.90.80.82.30.91.40.7
France1.64.31.81.11.73.22.32.41.51.91.52.62.02.73.9
Italy1.42.71.61.30.81.40.91.81.30.30.41.42.2−1.11.2
Spain2.75.33.83.23.84.85.14.94.31.71.63.73.70.62.5
Japan1.42.41.0−0.40.81.91.71.61.00.91.61.80.21.51.5
United Kingdom2.13.92.93.12.83.81.62.83.71.31.02.73.40.12.1
Canada1.84.81.23.24.64.35.14.44.34.02.32.56.51.82.8
Other advanced economies4.15.50.33.91.44.83.33.74.53.43.43.9
Memorandum
Major advanced economies2.53.71.11.32.13.12.42.51.70.40.72.61.7−0.31.7
Newly industrialized Asian economies5.97.8−0.14.50.15.02.64.04.54.04.34.85.42.96.5

From fourth quarter of preceding year.

From fourth quarter of preceding year.

Table A3.Advanced Economies: Components of Real GDP

(Annual percent change)

Ten-Year Averages
1990–992000–092000200120022003200420052006200720082009
Private consumer expenditure
Advanced economies2.82.33.82.32.21.92.82.52.62.61.21.4
United States3.32.74.72.52.72.83.63.23.12.90.40.9
Euro area1.63.12.00.91.21.61.51.71.41.41.2
Germany2.40.52.41.9−0.80.10.2−0.11.0−0.40.70.3
France1.62.23.62.62.42.02.52.22.02.01.71.4
Italy1.61.02.40.70.21.00.70.91.11.40.90.8
Spain2.53.45.03.42.82.94.24.23.83.22.02.2
Japan1.91.30.71.61.10.41.61.32.01.40.71.7
United Kingdom2.32.64.63.03.52.93.41.52.13.11.41.0
Canada2.23.54.02.33.63.03.43.84.24.73.52.3
Other advanced economies4.13.45.62.63.91.13.53.43.44.33.13.0
Memorandum
Major advanced economies2.62.13.52.22.02.02.72.32.52.30.81.1
Newly industrialized Asian economies5.93.67.43.35.1−0.32.43.43.84.33.33.5
Public consumption
Advanced economies1.92.22.52.83.42.31.71.51.72.11.91.9
United States1.12.11.73.14.32.51.50.81.41.91.71.7
Euro area1.92.32.02.41.81.41.52.02.21.91.9
Germany2.00.91.40.51.50.4−1.50.50.92.11.32.0
France1.71.61.91.21.92.02.30.91.41.41.41.6
Italy0.11.82.33.92.41.92.21.90.81.20.70.3
Spain3.35.15.33.94.54.86.35.54.85.15.74.9
Japan3.01.84.33.02.42.31.91.6−0.40.81.10.9
United Kingdom1.22.73.12.43.53.53.22.71.91.92.42.6
Canada0.93.03.13.92.53.12.52.23.33.63.42.5
Other advanced economies3.62.72.33.23.62.11.92.53.22.92.42.7
Memorandum
Major advanced economies1.51.92.32.73.22.31.51.21.21.81.61.6
Newly industrialized Asian economies5.23.12.93.74.52.41.83.04.03.62.43.2
Gross fixed capital formation
Advanced economies3.41.85.00.81.52.24.64.34.01.70.70.6
United States5.10.66.1−1.7−3.53.26.15.82.6−2.0−5.1−4.6
Euro area2.34.90.6−1.51.42.32.95.04.41.81.0
Germany2.70.83.0−3.6−6.1−0.3−0.21.06.15.02.60.9
France1.42.97.22.4−1.72.23.64.03.73.92.41.7
Italy1.02.06.42.73.7−1.22.30.72.51.20.90.8
Spain3.34.26.64.83.45.95.16.96.85.9−1.1−1.8
Japan0.31.2−0.9−4.9−0.51.43.11.3−0.31.12.0
United Kingdom2.33.02.72.63.61.15.91.57.95.0−0.60.2
Canada1.94.94.74.01.66.27.78.57.24.12.92.3
Other advanced economies4.94.16.8−4.43.82.87.24.65.36.44.24.5
Memorandum
Major advanced economies3.21.24.8−0.6−2.61.94.44.33.40.4−1.8−1.6
Newly industrialized Asian economies7.13.910.5−5.92.22.37.82.04.05.35.26.5
Final domestic demand
Advanced economies2.52.13.61.81.52.12.92.72.72.20.81.0
United States3.32.24.51.81.82.83.83.32.71.8−0.40.1
Euro area1.83.31.70.61.31.61.62.62.31.81.7
Germany2.40.72.30.4−1.50.1−0.20.32.01.21.20.8
France1.62.43.92.21.42.12.72.22.22.12.72.4
Italy1.21.43.11.71.30.71.31.11.31.40.90.7
Spain2.83.95.43.93.24.04.85.24.84.31.71.6
Japan1.51.11.41.2−0.20.51.61.91.40.90.91.6
United Kingdom2.12.74.02.83.52.73.71.83.03.21.31.2
Canada1.83.74.02.93.03.74.14.54.74.33.32.3
Other advanced economies4.23.45.40.93.71.74.03.43.84.63.33.4
Memorandum
Major advanced economies2.52.03.61.71.32.02.82.52.41.80.60.8
Newly industrialized Asian economies6.13.67.60.84.10.83.53.03.94.63.84.3
Stock building1
Advanced economies0.10.60.10.30.10.10.20.1
United States0.1−0.1−0.1−0.90.40.4−0.20.1−0.3−0.2
Euro area−0.1−0.4−0.30.20.30.2−0.3−0.4−0.5
Germany−0.1−0.2−0.1−0.9−0.60.50.1−0.1−0.3−0.4
France0.5−0.4−0.3−0.30.60.2−0.6−0.1
Italy−0.20.10.1−0.1−0.21.1−0.6−0.3
Spain−0.1−0.1−0.1−0.1−0.10.1
Japan−0.10.11.0−0.2−0.30.20.3−0.10.20.1
United Kingdom−0.10.1−0.30.20.1−0.1−0.20.40.1−0.2
Canada0.10.8−1.70.20.80.10.3−0.20.6
Other advanced economies0.1−0.50.1−0.20.7−0.1−0.10.2
Memorandum
Major advanced economies0.1−0.60.10.10.3−0.10.1−0.2−0.2
Newly industrialized Asian economies−0.10.1−0.80.3−0.61.1−0.40.1−0.10.2
Foreign balance1
Advanced economies−0.10.1−0.2−0.5−0.3−0.20.40.50.2
United States−0.2−0.1−0.9−0.2−0.7−0.4−0.7−0.2−0.10.61.20.4
Euro area0.20.50.70.5−0.60.2−0.20.20.50.2
Germany0.91.01.72.0−0.81.30.51.11.70.70.3
France0.3−0.3−0.50.1−0.1−0.7−0.9−0.7−0.50.4−0.2−0.2
Italy0.1−0.10.80.2−0.8−0.80.2−0.30.1−0.2
Spain−0.2−0.7−0.4−0.2−0.6−0.8−1.7−1.6−1.2−0.7
Japan0.10.50.5−0.80.70.70.80.30.81.20.5
United Kingdom−0.2−0.1−0.5−1.1−0.1−0.6−0.60.30.6
Canada0.6−1.00.60.7−0.1−2.5−1.0−1.7−1.4−1.6−2.5−0.3
Other advanced economies0.30.60.70.90.21.20.60.91.00.60.3
Memorandum
Major advanced economies−0.2−0.2−0.4−0.2−0.20.10.60.60.2
Newly industrialized Asian economies0.11.50.31.21.13.01.82.62.21.80.40.6

Changes expressed as percent of GDP in the preceding period.

Changes expressed as percent of GDP in the preceding period.

Table A4.Emerging and Developing Economies, by Country: Real GDP1(Annual percent change)
Average

1990–99
20002001200220032004200520062007200820092013
Africa2.33.54.96.15.36.55.75.96.26.36.45.3
Algeria1.52.22.74.76.95.25.12.04.64.94.95.1
Angola0.63.03.114.53.311.220.618.621.116.013.20.4
Benin4.94.96.24.53.93.12.93.84.25.45.75.7
Botswana6.08.34.95.76.06.34.73.65.45.04.35.0
Burkina Faso5.11.86.64.78.04.67.15.54.24.06.35.8
Burundi−1.3−0.92.14.4−1.24.80.95.13.65.95.76.1
Cameroon20.34.24.54.04.03.72.33.23.34.54.65.3
Cape Verde6.17.36.15.34.74.45.710.86.97.77.46.7
Central African Republic0.41.80.3−0.6−7.61.02.44.04.24.95.05.0
Chad3.2−0.911.78.514.733.67.90.20.61.82.51.9
Comoros1.51.43.34.12.5−0.24.21.2−1.01.63.04.5
Congo, Dem. Rep. of−5.6−6.9−2.13.55.86.67.95.66.38.811.66.3
Congo, Rep. of0.87.63.84.60.83.57.86.2−1.69.210.61.8
Côte d’Ivoire3.5−4.6−1.6−1.71.61.8−0.31.62.95.16.0
Djibouti−1.20.52.02.63.23.03.24.85.26.57.66.7
Equatorial Guinea29.218.662.320.613.132.26.9−5.612.410.14.96.6
Eritrea−12.48.83.0−2.71.52.6−1.01.31.22.03.5
Ethiopia2.65.97.71.2−3.59.812.611.611.48.47.17.7
Gabon2.4−1.92.1−0.32.41.13.01.25.64.23.82.7
Gambia, The4.25.55.8−3.26.97.05.16.57.06.56.55.5
Ghana4.53.74.24.55.25.65.96.46.46.97.57.0
Guinea4.22.93.84.21.22.73.32.21.54.95.25.2
Guinea-Bissau0.67.50.2−7.1−0.62.23.21.82.53.23.13.9
Kenya2.10.64.70.32.84.65.86.17.02.53.46.2
Lesotho4.02.31.82.82.74.22.97.24.95.25.44.4
Liberia29.32.93.7−31.32.65.37.89.49.510.23.7
Madagascar1.64.56.0−12.410.85.34.45.06.36.87.37.3
Malawi3.90.8−4.11.94.25.02.37.97.47.16.25.5
Mali5.5−3.212.14.37.22.46.15.32.54.35.15.6
Mauritania2.61.92.91.15.65.25.411.40.96.16.86.3
Mauritius5.87.24.21.53.84.73.13.64.67.06.05.0
Morocco2.61.87.63.36.15.22.48.02.26.55.75.9
Mozambique6.41.512.39.26.57.98.48.07.07.07.06.5
Namibia3.83.52.46.73.56.64.84.14.44.74.54.6
Niger1.1−2.67.45.37.7−0.87.45.23.24.44.53.3
Nigeria2.65.38.221.210.310.65.46.26.49.18.36.5
Rwanda−0.56.03.911.00.35.37.15.56.06.05.65.7
São Tomé and Príncipe1.20.43.111.65.46.65.76.76.06.06.08.0
Senegal2.73.24.60.76.75.85.32.15.05.45.95.0
Seychelles4.84.3−2.31.2−5.9−2.91.25.35.34.64.23.6
Sierra Leone−7.83.818.227.49.57.47.37.46.86.56.55.6
South Africa1.44.22.73.73.14.95.05.45.13.83.94.8
Sudan2.78.46.25.47.15.16.311.310.57.612.75.2
Swaziland3.72.01.01.83.92.52.22.82.42.02.02.1
Tanzania3.14.96.07.26.97.87.46.77.37.88.07.0
Togo1.6−1.3−2.3−0.35.22.41.34.12.13.04.04.0
Tunisia5.04.75.01.75.66.04.05.56.35.55.96.4
Uganda6.35.45.06.44.75.46.85.16.57.17.06.0
Zambia−0.63.64.93.35.15.45.26.25.36.36.35.9
Zimbabwe32.0−7.3−2.7−4.4−10.4−3.6−4.0−5.4−6.1−6.6−6.8
Central and eastern Europe41.24.90.44.24.86.96.16.65.84.44.35.0
Albania−0.57.37.04.25.85.75.55.06.06.06.16.3
Bosnia and Herzegovina5.23.65.03.56.34.36.25.85.55.54.5
Bulgaria−5.45.44.14.55.06.66.26.36.25.54.86.5
Croatia2.94.45.65.34.34.34.85.84.34.04.8
Czech Republic−0.33.62.51.93.64.56.46.46.54.24.64.0
Estonia9.67.78.07.28.310.211.27.13.03.75.2
Hungary0.15.24.14.44.24.84.13.91.31.82.54.3
Latvia6.98.06.57.28.710.611.910.23.60.53.0
Lithuania4.16.66.910.37.37.97.78.86.55.55.8
Macedonia, FYR4.5−4.50.92.84.14.13.75.04.55.06.0
Montenegro, Rep. of2.34.24.16.57.57.25.44.5
Poland2.64.31.21.43.95.33.66.26.54.94.54.9
Romania−2.52.15.75.15.28.44.17.96.05.44.76.0
Serbia4.54.84.22.58.46.25.77.34.06.05.5
Slovak Republic1.43.44.84.85.26.68.510.46.65.64.8
Turkey3.96.8−5.76.25.39.48.46.95.04.04.35.0
Commonwealth of Independent States4,59.16.15.27.88.26.58.28.57.06.55.7
Russia10.05.14.77.37.26.47.48.16.86.35.6
Excluding Russia6.68.96.69.010.86.710.19.67.47.05.8
Armenia6.09.613.214.010.514.013.313.810.08.04.0
Azerbaijan6.26.58.110.510.424.330.523.418.615.6−2.6
Belarus5.84.75.07.011.44.010.08.27.16.84.8
Georgia1.94.75.511.15.99.69.412.49.09.05.0
Kazakhstan9.813.59.89.39.69.710.78.55.07.08.0
Kyrgyz Republic5.45.3−0.07.07.0−0.23.18.27.06.54.5
Moldova2.16.17.86.67.47.54.05.07.08.06.0
Mongolia−0.43.91.91.85.413.37.68.69.98.78.16.0
Tajikistan8.310.29.110.210.66.77.07.84.17.07.0
Turkmenistan18.620.415.817.114.712.911.111.69.510.09.1
Ukraine5.99.25.29.612.12.77.17.35.64.26.5
Uzbekistan3.84.24.04.27.77.07.39.58.07.56.0
Developing Asia7.26.95.86.98.18.69.09.69.78.28.48.9
Afghanistan, I.R. of15.19.416.46.112.48.68.45.6
Bangladesh4.85.64.84.85.86.16.36.45.65.56.57.0
Bhutan5.67.67.210.07.66.86.911.022.47.86.76.8
Brunei Darussalam2.92.73.92.90.50.45.10.4−0.52.83.0
Cambodia8.88.16.68.510.313.310.89.67.27.06.6
China9.98.48.39.110.010.110.411.111.49.39.510.0
Fiji5.8−1.82.03.21.15.40.73.6−4.42.02.82.9
India5.65.43.94.66.97.99.19.79.27.98.08.0
Indonesia4.15.43.64.54.85.05.75.56.36.16.36.7
Kiribati4.33.93.28.1−1.3−1.51.72.42.03.72.51.1
Lao PDR6.45.85.75.96.16.47.18.17.57.98.26.2
Malaysia7.18.70.55.45.86.85.05.96.35.05.36.0
Maldives6.54.83.56.58.59.5−4.519.16.64.54.03.5
Myanmar6.013.711.312.013.813.613.612.75.54.04.04.0
Nepal4.96.15.60.13.94.73.12.82.54.04.55.5
Pakistan4.04.32.03.24.87.47.76.96.46.06.77.2
Papua New Guinea4.5−2.5−0.1−0.22.22.73.42.66.25.84.72.6
Philippines2.86.01.84.44.96.44.95.47.35.85.86.2
Samoa2.05.08.15.52.12.46.01.86.04.54.03.5
Solomon Islands4.3−14.3−9.0−1.66.48.05.06.15.44.22.81.7
Sri Lanka5.26.0−1.54.06.05.46.07.46.36.45.65.5
Thailand5.14.82.25.37.16.34.55.14.85.35.66.0
Timor-Leste15.516.5−6.7−6.20.32.3−3.419.82.50.63.8
Tonga1.55.42.63.03.21.42.31.3−3.50.81.31.2
Vanuatu3.62.7−2.5−7.43.25.56.57.25.04.03.52.5
Vietnam7.46.86.97.17.37.88.48.28.57.37.38.0
Middle East4.35.43.03.96.95.95.75.85.86.16.16.0
Bahrain4.85.215.15.27.25.67.96.56.66.26.66.3
Egypt4.15.43.53.23.24.14.56.87.17.07.17.8
Iran, I.R. of5.15.13.77.57.25.14.75.85.85.84.74.7
Iraq
Jordan4.24.35.35.84.28.67.16.35.75.55.86.0
Kuwait0.14.70.23.017.310.711.46.34.66.06.26.0
Lebanon5.41.74.53.34.17.51.14.03.04.55.0
Libya−0.93.45.91.45.95.06.35.26.88.89.87.4
Oman4.95.57.52.62.05.36.06.86.47.46.05.6
Qatar4.210.96.33.26.317.79.210.314.214.113.17.9
Saudi Arabia3.14.90.50.17.75.36.14.34.14.85.65.8
Syrian Arab Republic5.62.33.75.91.12.83.34.43.94.04.84.2
United Arab Emirates5.412.41.72.611.99.78.29.47.46.36.47.7
Yemen, Rep. of6.23.83.93.74.05.63.23.14.18.14.8
Western Hemisphere2.94.10.70.42.16.24.65.55.64.43.64.0
Antigua and Barbuda3.33.31.52.04.35.25.512.26.12.14.04.5
Argentina4.2−0.8−4.4−10.98.89.09.28.58.77.04.53.0
Bahamas, The1.81.90.82.31.41.82.53.43.14.03.83.8
Barbados0.42.3−2.60.62.04.84.13.94.22.72.52.5
Belize5.813.05.05.19.34.63.15.62.23.02.32.5
Bolivia4.02.51.72.52.74.24.04.64.24.75.05.0
Brazil1.74.31.32.71.15.73.23.85.44.83.74.0
Chile6.44.53.52.24.06.05.74.05.04.54.55.0
Colombia2.92.91.51.93.94.94.76.87.04.64.55.0
Costa Rica5.41.81.12.96.44.35.98.86.84.14.05.5
Dominica2.61.3−4.2−5.10.13.03.34.00.93.53.03.0
Dominican Republic4.58.13.64.4−1.92.09.310.78.54.83.35.0
Ecuador2.22.85.34.23.68.06.03.91.92.94.14.4
El Salvador4.92.21.72.32.31.93.14.24.73.03.44.5
Grenada4.37.0−3.01.67.1−5.711.0−2.43.14.34.04.0
Guatemala3.72.52.43.92.53.23.35.25.74.84.54.5
Guyana4.7−1.32.31.1−0.71.6−1.95.15.44.64.53.6
Haiti0.20.9−1.0−0.30.4−3.51.82.33.23.74.04.0
Honduras2.75.72.73.84.56.26.16.36.34.84.64.2
Jamaica0.90.71.51.12.31.01.42.51.42.42.83.4
Mexico3.36.60.81.44.22.84.83.32.02.33.8
Nicaragua3.14.13.00.82.55.34.43.93.74.04.25.0
Panama6.12.70.62.24.27.57.28.711.27.77.26.5
Paraguay2.4−3.32.13.84.12.94.36.44.04.55.0
Peru3.13.00.25.04.05.16.77.69.07.06.05.5
St. Kitts and Nevis4.04.32.01.00.57.64.86.43.33.52.72.0
St. Lucia3.10.1−3.70.83.14.53.85.03.24.44.44.9
St. Vincent and the Grenadines3.52.0−0.13.22.86.82.66.96.65.04.94.3
Suriname0.5−0.16.82.66.08.24.54.85.56.85.54.7
Trinidad and Tobago3.96.94.27.914.48.88.012.05.55.95.64.0
Uruguay3.2−1.4−3.4−11.02.211.86.67.07.06.04.03.2
Venezuela2.43.73.4−8.9−7.818.310.310.38.45.83.52.2

For many countries, figures for recent years are IMF staff estimates. Data for some countries are for fiscal years.

The percent changes in 2002 are calculated over a period of 18 months, reflecting a change in the fiscal year cycle (from July–June to January–December).

Extrapolating existing trends would indicate a further decline of at least this magnitude.

Data for some countries refer to real net material product (NMP) or are estimates based on NMP. For many countries, figures for recent years are IMF staff estimates. The figures should be interpreted only as indicative of broad orders of magnitude because reliable, comparable data are not generally available. In particular, the growth of output of new private enterprises of the informal economy is not fully reflected in the recent figures.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

For many countries, figures for recent years are IMF staff estimates. Data for some countries are for fiscal years.

The percent changes in 2002 are calculated over a period of 18 months, reflecting a change in the fiscal year cycle (from July–June to January–December).

Extrapolating existing trends would indicate a further decline of at least this magnitude.

Data for some countries refer to real net material product (NMP) or are estimates based on NMP. For many countries, figures for recent years are IMF staff estimates. The figures should be interpreted only as indicative of broad orders of magnitude because reliable, comparable data are not generally available. In particular, the growth of output of new private enterprises of the informal economy is not fully reflected in the recent figures.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

Table A5.Summary of Inflation(Percent)
Average
1990–9920002001200220032004200520062007200820092013
GDP deflators
Advanced economies2.61.51.91.61.72.02.12.12.11.81.81.7
United States2.22.22.41.72.12.93.23.22.72.01.81.8
Euro area1.52.42.62.21.91.91.92.22.21.71.9
Japan0.5−1.7−1.2−1.5−1.6−1.1−1.2−1.0−0.8−0.71.01.3
Other advanced economies13.32.12.01.72.12.22.01.92.32.22.61.7
Consumer prices
Advanced economies3.02.22.11.51.82.02.32.42.22.62.02.1
United States3.03.42.81.62.32.73.43.22.93.02.02.2
Euro area22.22.42.32.12.12.22.22.12.81.91.9
Japan1.2−0.7−0.7−0.9−0.3−0.30.30.61.31.5
Other advanced economies3.51.82.11.71.81.72.12.12.12.62.42.2
Emerging and developing economies51.48.57.66.76.65.95.75.46.47.45.74.5
Regional groups
Africa24.911.711.09.18.66.37.16.46.37.55.94.5
Central and eastern Europe60.124.921.516.410.16.35.15.45.66.44.33.1
Commonwealth of Independent States324.120.314.012.310.412.19.59.713.19.55.9
Developing Asia8.61.92.72.02.54.13.84.15.35.94.13.6
Middle East10.94.13.85.36.17.06.27.010.411.510.07.1
Western Hemisphere98.48.36.58.710.56.66.35.35.46.66.16.2
Memorandum
European Union10.03.13.02.52.22.32.32.32.43.12.22.0
Analytical groups
By source of export earnings
Fuel76.014.413.411.811.59.79.68.59.712.110.17.7
Nonfuel45.27.16.35.55.45.04.84.65.56.34.63.8
of which, primary products55.017.815.48.46.74.07.27.46.57.95.74.5
By external financing source
Net debtor countries52.29.48.38.07.25.45.96.05.96.45.04.0
of which, official financing17.53.84.14.86.17.27.87.39.111.18.15.3
Net debtor countries by debt-

servicing experience
Countries with arrears and/or

rescheduling during 2002–06
28.57.38.010.57.35.98.69.66.87.56.44.5
Memorandum
Median inflation rate
Advanced economies2.82.72.52.32.11.92.12.22.12.92.12.0
Emerging and developing economies10.14.04.73.34.24.55.75.66.37.05.44.0

In this table, other advanced economies means advanced economies excluding the United States, euro area countries, and Japan.

Based on Eurostat’s harmonized index of consumer prices.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

In this table, other advanced economies means advanced economies excluding the United States, euro area countries, and Japan.

Based on Eurostat’s harmonized index of consumer prices.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

Table A6.Advanced Economies: Consumer Prices

(Annual percent change)

AverageEnd of Period
1990–9920002001200220032004200520062007200820092013200720082009
Consumer Prices
Advanced economies3.02.22.11.51.82.02.32.42.22.62.02.12.92.22.0
United States3.03.42.81.62.32.73.43.22.93.02.02.24.12.02.1
Euro area12.22.42.32.12.12.22.22.12.81.91.93.12.21.7
Germany2.41.41.91.41.01.81.91.82.32.51.61.8−0.24.81.9
France1.91.81.81.92.22.31.91.91.62.51.71.72.82.51.7
Italy4.12.62.32.62.82.32.22.22.02.51.92.02.62.51.9
Spain4.33.52.83.63.13.13.43.62.84.03.02.24.33.42.6
Netherlands2.32.35.13.82.21.41.51.71.62.41.82.01.62.41.8
Belgium2.02.72.41.61.51.92.52.31.83.11.91.83.12.51.6
Austria2.12.02.31.71.32.02.11.72.22.81.91.73.52.11.9
Finland2.13.02.72.01.30.10.81.31.62.81.92.01.92.42.3
Greece10.82.93.73.93.43.03.53.33.03.52.72.53.93.02.7
Portugal5.72.84.43.73.32.52.13.02.42.42.02.12.42.42.0
Ireland2.45.34.04.74.02.32.22.73.03.22.12.03.52.62.0
Luxembourg2.23.22.72.12.02.22.52.72.32.92.12.03.42.22.0
Slovenia8.88.47.55.63.62.52.53.64.02.42.45.62.52.4
Cyprus3.74.92.02.84.01.92.02.22.24.02.92.03.73.32.5
Malta3.13.02.52.61.92.72.52.60.73.42.52.03.13.42.5
Japan1.2−0.7−0.7−0.9−0.3−0.30.30.61.31.50.70.61.3
United Kingdom13.30.91.21.31.41.32.02.32.32.52.12.02.02.22.1
Canada2.22.72.52.32.71.82.22.02.11.62.02.02.51.82.0
Korea5.72.34.12.83.53.62.82.22.53.42.92.53.63.02.9
Australia2.54.54.43.02.82.32.73.52.33.53.32.83.03.43.2
Taiwan Province of China2.91.3−0.2−0.31.62.30.61.81.51.51.53.40.61.5
Sweden3.61.32.71.92.31.00.81.51.72.82.12.02.52.42.0
Switzerland2.31.61.00.60.60.81.21.00.92.01.41.02.71.21.4
Hong Kong SAR6.8−3.7−1.6−3.0−2.6−0.40.92.02.03.64.55.43.83.44.5
Denmark2.12.92.42.42.11.21.81.91.72.32.01.92.32.01.9
Norway2.43.13.01.32.50.41.62.30.83.12.62.52.81.32.4
Israel11.21.11.15.70.7−0.41.32.10.52.62.02.03.42.02.0
Singapore1.91.31.0−0.40.51.70.51.02.14.72.51.73.92.82.9
New Zealand2.12.62.62.61.72.33.03.42.43.42.72.03.23.12.5
Iceland4.15.16.64.82.13.24.06.85.05.52.72.55.93.22.5
Memorandum
Major advanced economies2.62.11.91.31.72.02.32.42.22.41.82.02.72.11.9
Newly industrialized Asian economies4.71.21.91.01.42.42.21.62.23.02.72.53.62.32.7

Based on Eurostat’s harmonized index of consumer prices.

Based on Eurostat’s harmonized index of consumer prices.

Table A7.Emerging and Developing Economies, by Country: Consumer Prices1(Annual percent change)
AverageEnd of Period
1990–9920002001200220032004200520062007200820092013200720082009
Africa24.911.711.09.18.66.37.16.46.37.55.94.57.16.75.5
Algeria17.30.34.21.42.63.61.62.53.74.34.12.94.44.23.9
Angola463.0325.0152.6108.998.343.623.013.312.211.48.94.511.810.08.0
Benin7.24.24.02.41.50.95.43.82.02.42.62.92.12.72.7
Botswana10.98.56.68.09.27.08.611.67.18.06.85.18.17.56.3
Burkina Faso4.3−0.34.72.32.0−0.46.42.4−0.26.42.52.02.33.32.2
Burundi13.524.39.3−1.310.78.013.42.88.411.88.24.014.47.85.7
Cameroon24.90.82.86.30.60.32.05.10.93.02.32.03.52.50.4
Cape Verde7.3−2.43.71.91.2−1.90.45.44.43.32.22.33.82.02.3
Central African Republic3.53.23.82.34.4−2.22.96.70.92.74.12.5−0.25.13.1
Chad4.13.812.45.2−1.8−5.47.97.9−8.83.03.03.00.82.93.0
Comoros2.55.95.63.63.74.53.03.43.03.03.03.03.03.03.0
Congo, Dem. Rep. of848.4550.0357.325.312.84.021.413.216.710.111.410.010.012.111.5
Congo, Rep. of7.30.40.83.11.53.82.54.72.63.03.53.0−1.74.03.0
Côte d’Ivoire6.0−0.44.25.11.30.64.25.02.14.73.21.61.93.82.6
Djibouti4.21.61.80.62.03.13.13.55.06.14.53.05.06.14.5
Equatorial Guinea6.14.88.87.67.34.25.74.54.65.54.74.15.94.94.8
Eritrea19.914.616.922.725.112.515.19.311.010.58.512.311.010.0
Ethiopia7.16.2−5.2−7.215.18.66.812.317.020.112.97.815.718.615.0
Gabon4.90.52.10.22.10.41.2−1.45.04.03.02.55.93.52.5
Gambia, The5.40.94.58.617.014.35.02.15.05.05.04.05.05.05.0
Ghana26.825.232.914.826.712.615.110.99.68.97.93.012.78.77.1
Guinea8.56.85.43.012.917.531.434.722.913.27.35.012.810.07.0
Guinea-Bissau35.68.63.33.3−3.50.83.42.03.83.32.53.04.32.42.5
Kenya16.010.05.82.09.811.610.314.59.812.37.05.012.07.98.4
Lesotho11.16.16.912.57.35.03.46.18.09.66.95.010.59.36.2
Liberia5.312.114.210.33.66.97.211.29.08.05.09.58.57.5
Madagascar16.410.76.916.2−1.114.018.410.810.39.06.65.08.27.85.0
Malawi29.029.627.217.39.611.415.513.98.16.96.36.07.56.56.2
Mali3.8−0.75.25.0−1.3−3.16.41.92.52.52.52.52.52.52.5
Mauritania5.06.87.75.45.310.412.16.27.37.16.05.07.46.06.0
Mauritius8.24.25.46.53.94.74.95.610.79.58.25.010.09.07.5
Morocco4.41.90.62.81.21.51.03.32.02.02.02.02.02.02.0
Mozambique31.812.79.116.813.512.66.413.27.95.75.45.05.55.35.0
Namibia10.29.39.311.37.24.12.35.16.77.56.55.57.17.06.5
Niger4.52.94.02.7−1.80.47.80.10.14.52.02.04.71.02.0
Nigeria28.56.918.013.714.015.017.88.35.58.68.58.56.68.58.5
Rwanda16.33.93.42.07.412.09.28.89.47.15.05.07.57.35.0
São Tomé and Príncipe39.211.09.210.19.813.317.223.119.914.18.24.019.69.57.0
Senegal4.10.73.02.30.51.72.15.94.52.21.86.22.92.1
Seychelles2.06.36.00.23.33.90.8−1.45.723.37.63.016.815.67.2
Sierra Leone42.6−0.92.6−3.77.514.212.19.511.712.49.85.013.811.08.5
South Africa9.85.45.79.25.81.43.44.77.18.75.94.59.07.85.2
Sudan75.28.04.98.37.78.48.57.28.08.06.04.08.87.05.0
Swaziland9.57.27.511.77.43.44.85.38.29.87.05.59.88.46.5
Tanzania21.36.25.14.64.44.14.47.37.07.15.25.06.45.55.0
Togo6.01.93.93.1−0.90.46.82.21.04.13.83.23.42.34.2
Tunisia4.82.32.02.72.73.62.04.53.14.73.52.75.33.03.5
Uganda16.35.84.5−2.05.75.08.06.66.85.95.04.74.46.53.7
Zambia68.326.121.722.221.418.018.39.010.76.65.92.78.97.05.0
Zimbabwe328.155.673.4133.2365.0350.0237.81,016.710,452.6108,844.1
Central and eastern Europe460.124.921.516.410.16.35.15.45.66.44.33.16.75.33.9
Albania34.73.15.22.32.92.42.42.94.22.92.83.13.83.0
Bosnia and Herzegovina5.03.20.30.50.33.67.51.34.82.72.5
Bulgaria110.310.37.45.82.36.16.07.47.69.76.03.511.67.25.0
Croatia4.63.81.71.82.03.33.22.95.53.53.05.83.83.5
Czech Republic13.93.84.71.80.12.81.82.52.86.03.52.05.45.53.5
Estonia4.05.83.61.33.04.14.46.69.84.72.99.67.13.6
Hungary22.09.89.25.34.66.83.63.97.95.93.53.07.44.73.0
Latvia2.62.51.92.96.26.76.510.115.39.23.114.111.87.9
Lithuania1.11.60.3−1.11.22.73.85.88.36.12.78.27.04.5
Macedonia, FYR6.45.52.21.2−0.40.53.22.27.02.52.56.13.02.5
Montenegro, Rep. of3.13.42.13.44.84.13.0
Poland51.410.15.51.90.83.52.11.02.54.13.82.54.03.93.7
Romania110.345.734.522.515.311.99.06.64.87.05.12.76.66.34.0
Serbia70.091.819.511.710.117.312.76.811.38.95.710.110.58.0
Slovak Republic12.07.13.38.57.52.84.31.93.33.12.52.53.22.9
Turkey76.155.054.245.125.38.68.29.68.87.54.54.08.46.04.0
Commonwealth of Independent States4,524.120.314.012.310.412.19.59.713.19.55.913.011.18.1
Russia20.821.515.813.710.912.79.79.011.48.45.211.910.07.0
Excluding Russia34.117.19.28.69.110.68.811.617.312.47.615.813.910.9
Armenia−0.83.11.14.77.00.62.94.46.84.55.06.65.05.0
Azerbaijan1.81.52.82.26.79.78.416.619.620.519.019.522.019.0
Belarus168.661.142.628.418.110.37.08.411.28.85.212.110.27.3
Georgia4.04.75.64.85.78.39.29.29.66.45.011.08.05.0
Kazakhstan13.38.45.96.46.97.68.610.817.18.36.018.810.07.0
Kyrgyz Republic18.76.92.13.14.14.35.610.218.810.25.020.115.07.0
Moldova31.39.85.311.712.511.912.712.611.47.94.513.49.07.0
Mongolia11.66.20.95.17.912.55.19.010.65.85.215.16.05.5
Tajikistan32.938.612.216.47.27.310.013.218.510.56.019.815.09.0
Turkmenistan8.011.68.85.65.910.78.26.412.012.06.010.012.012.0
Ukraine28.212.00.85.29.013.49.012.821.915.77.616.617.113.4
Uzbekistan25.027.327.311.66.610.014.212.311.810.98.011.912.110.0
Developing Asia8.61.92.72.02.54.13.84.15.35.94.13.66.34.64.0
Afghanistan, I.R. of5.124.113.212.35.113.019.69.25.020.715.06.0
Bangladesh6.42.51.93.75.46.17.06.58.49.38.14.09.29.47.0
Bhutan9.84.03.42.52.14.65.35.04.94.74.33.94.84.54.2
Brunei Darussalam1.20.6−2.30.30.91.10.20.40.71.01.2
Cambodia−0.80.23.31.23.85.94.75.99.05.03.510.87.55.0
China7.50.40.7−0.81.23.91.81.54.85.93.63.46.63.93.6
Fiji4.21.14.30.84.22.82.42.54.83.03.03.07.02.53.0
India9.54.03.84.33.83.84.26.26.45.24.03.95.54.63.9
Indonesia13.63.811.511.86.86.110.513.16.47.15.93.26.66.75.5
Kiribati3.40.46.03.22.5−1.9−0.5−0.20.21.01.52.53.72.82.5
Lao PDR22.623.29.310.615.510.57.26.84.56.96.15.05.67.05.5
Malaysia3.71.61.41.81.11.43.03.62.12.42.52.52.22.42.5
Maldives8.4−1.20.70.9−2.86.33.33.75.06.06.06.07.06.06.0
Myanmar26.9−1.734.558.124.93.810.725.734.425.020.015.030.020.020.0
Nepal9.83.42.42.94.84.04.58.06.46.44.94.05.16.45.3
Pakistan9.63.64.42.53.14.69.37.97.88.57.54.07.08.27.0
Papua New Guinea8.615.69.311.814.72.11.72.31.75.05.04.04.55.54.5
Philippines9.64.06.83.03.56.07.76.22.84.43.83.53.93.43.5
Samoa4.4−0.21.97.44.37.91.93.86.05.55.13.05.14.84.7
Solomon Islands10.76.97.69.310.06.97.38.16.37.36.65.07.06.76.5
Sri Lanka11.11.512.110.22.67.910.69.519.711.59.07.021.811.09.0
Thailand5.01.61.70.61.82.84.54.62.23.52.52.03.21.93.0
Timor-Leste63.63.64.87.03.21.84.17.84.03.53.27.84.03.5
Tonga4.45.36.910.411.111.79.77.05.95.35.66.05.65.45.6
Vanuatu3.22.53.72.03.01.41.22.13.93.22.52.54.03.02.5
Vietnam19.2−1.6−0.44.03.27.78.37.58.316.010.06.012.614.08.5
Middle East10.94.13.85.36.17.06.27.010.411.510.07.110.911.710.0
Bahrain0.8−0.7−1.2−0.51.72.32.62.23.43.33.12.93.43.23.1
Egypt10.72.82.42.43.28.18.84.211.08.88.86.78.69.47.8
Iran, I.R. of23.512.811.315.715.615.310.411.917.520.717.411.819.020.717.4
Iraq
Jordan5.00.71.81.81.63.43.56.35.410.96.52.55.79.06.3
Kuwait3.61.61.40.81.01.34.13.15.06.55.54.55.06.55.5
Lebanon24.9−0.4−0.41.81.31.7−0.75.64.15.55.32.72.05.05.5
Libya6.2−2.9−8.8−9.9−2.1−2.22.03.46.78.07.56.08.18.07.5
Oman1.6−1.2−0.8−0.30.20.71.93.25.56.06.85.05.86.46.4
Qatar2.91.71.40.22.36.88.811.813.812.010.04.513.812.010.0
Saudi Arabia1.2−1.1−1.10.20.60.40.62.34.16.25.64.54.16.25.6
Syrian Arab Republic7.2−3.93.4−0.55.84.47.210.67.07.07.05.023.05.05.0
United Arab Emirates3.61.42.72.93.25.06.29.311.09.05.33.0
Yemen, Rep. of37.010.911.912.210.812.511.818.212.510.311.014.58.612.010.0
Western Hemisphere98.48.36.58.710.56.66.35.35.46.66.16.26.36.36.1
Antigua and Barbuda3.4−0.61.72.42.02.02.11.81.53.02.02.01.53.02.0
Argentina59.3−0.9−1.125.913.44.49.610.98.89.29.19.08.59.09.0
Bahamas, The2.81.62.02.23.00.92.21.82.42.42.32.02.62.42.2
Barbados2.92.42.6−1.21.61.46.07.35.53.62.12.05.72.32.0
Belize2.00.71.22.22.63.13.74.33.02.82.62.53.02.62.5
Bolivia10.44.61.60.93.34.45.44.38.715.114.314.911.716.014.0
Brazil325.47.16.88.414.86.66.94.23.64.84.34.54.54.54.5
Chile11.53.83.62.52.81.13.13.44.46.63.63.07.84.23.0
Colombia22.09.28.06.37.15.95.04.35.55.54.63.45.75.04.0
Costa Rica16.711.011.39.29.412.313.811.59.49.57.03.010.88.06.0
Dominica2.30.91.60.11.62.41.62.62.72.21.51.53.42.41.5
Dominican Republic14.27.78.95.227.451.54.27.66.16.24.84.08.97.04.0
Ecuador38.696.137.712.67.92.72.13.32.23.33.33.32.93.33.3
El Salvador10.42.33.81.92.14.54.74.03.95.54.43.04.94.94.0
Grenada2.90.61.71.12.22.33.54.33.75.02.02.06.72.02.0
Guatemala14.56.07.38.15.67.69.16.66.88.06.04.28.76.25.8
Guyana21.86.12.75.46.04.76.96.612.26.26.55.013.96.86.3
Haiti20.711.516.59.326.728.316.814.29.09.77.55.07.99.07.0
Honduras19.511.09.77.77.78.18.85.66.99.58.65.58.99.07.9
Jamaica26.78.17.07.110.513.415.18.59.319.010.27.216.814.49.3
Mexico20.19.56.45.04.54.74.03.64.03.83.23.03.83.53.0
Nicaragua66.59.94.74.06.58.59.69.111.113.87.53.016.99.57.5
Panama1.11.40.31.00.60.52.92.54.27.44.94.06.46.54.8
Paraguay16.29.07.310.514.24.36.89.68.17.63.83.06.05.03.0
Peru112.13.82.00.22.33.31.62.01.84.22.52.53.93.52.5
St. Kitts and Nevis3.52.12.12.12.32.23.48.54.51.62.32.22.12.52.2
St. Lucia3.23.75.4−0.31.01.53.93.61.93.43.12.56.82.92.6
St. Vincent and the Grenadines3.10.20.80.80.23.03.73.06.14.12.82.85.83.23.0
Suriname70.958.639.815.523.09.19.911.36.48.07.05.08.47.06.0
Trinidad and Tobago5.93.65.54.23.83.76.98.37.97.36.85.07.67.06.5
Uruguay45.14.84.414.019.49.24.76.48.17.45.73.38.57.05.0
Venezuela46.116.212.522.431.121.716.013.718.725.731.040.022.529.033.0

In accordance with standard practice in the World Economic Outlook, movements in consumer prices are indicated as annual averages rather than as December/December changes during the year, as is the practice in some countries. For many countries, figures for recent years are IMF staff estimates. Data for some countries are for fiscal years.

The percent changes in 2002 are calculated over a period of 18 months, reflecting a change in the fiscal year cycle (from July–June to January–December).

2007 represents an estimate. No projections for 2008 and beyond are shown because Zimbabwe is in hyperinflation and inflation can no longer be forecasted in a meaningful way. Unless policies change, inflation can increase without limit.

For many countries, inflation for the earlier years is measured on the basis of a retail price index. Consumer price indices with a broader and more up-to-date coverage are typically used for more recent years.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

In accordance with standard practice in the World Economic Outlook, movements in consumer prices are indicated as annual averages rather than as December/December changes during the year, as is the practice in some countries. For many countries, figures for recent years are IMF staff estimates. Data for some countries are for fiscal years.

The percent changes in 2002 are calculated over a period of 18 months, reflecting a change in the fiscal year cycle (from July–June to January–December).

2007 represents an estimate. No projections for 2008 and beyond are shown because Zimbabwe is in hyperinflation and inflation can no longer be forecasted in a meaningful way. Unless policies change, inflation can increase without limit.

For many countries, inflation for the earlier years is measured on the basis of a retail price index. Consumer price indices with a broader and more up-to-date coverage are typically used for more recent years.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

Table A8.Major Advanced Economies: General Government Fiscal Balances and Debt1(Percent of GDP)
Average
1992–2001200220032004200520062007200820092013
Major advanced economies
Actual balance−2.8−4.0−4.8−4.2−3.5−2.6−2.2−3.4−3.2−2.1
Output gap20.1−0.5−0.9−0.3−0.30.10.1−1.1−2.3
Structural balance2−2.7−3.8−4.3−4.0−3.4−2.6−2.3−3.0−2.4−2.1
United States
Actual balance−1.8−3.8−4.8−4.4−3.6−2.6−2.5−4.5−4.2−2.8
Output gap20.2−0.4−0.60.00.30.50.1−1.8−3.6
Structural balance2−1.9−3.7−4.6−4.3−3.7−2.8−2.6−3.8−2.8−2.8
Net debt48.038.441.443.143.843.344.047.951.655.5
Gross debt64.256.159.460.460.860.160.863.266.569.9
Euro area
Actual balance−3.5−2.6−3.1−2.9−2.6−1.4−0.6−1.1−1.1−0.4
Output gap2−0.30.2−0.9−0.8−1.1−0.40.1−0.4−1.1
Structural balance2−3.0−2.6−2.7−2.4−2.1−1.2−0.6−0.9−0.6−0.2
Net debt58.458.459.860.360.758.856.755.955.450.6
Gross debt70.368.269.369.770.368.666.365.464.859.3
Germany3
Actual balance−2.2−3.7−4.0−3.8−3.4−1.6−0.7−0.4
Output gap20.2−0.2−1.7−2.0−2.4−1.0−0.2−0.8
Structural balance2,4−1.8−2.9−3.2−2.8−2.4−1.10.0−0.6−0.10.4
Net debt46.854.357.760.061.760.257.757.056.655.2
Gross debt54.359.662.864.766.366.063.262.461.959.9
France
Actual balance−3.7−3.1−4.1−3.6−3.0−2.5−2.4−2.8−3.0−1.2
Output gap2−0.80.7−0.20.2−0.2−0.2−0.5−1.2−2.1
Structural balance2,4−3.1−3.5−3.8−3.5−3.1−2.3−2.0−2.0−1.8−1.2
Net debt44.849.153.255.357.054.454.354.955.952.9
Gross debt54.158.862.965.066.764.164.064.665.662.6
Italy
Actual balance−5.5−2.9−3.5−3.5−4.2−3.4−1.9−2.5−2.5−2.2
Output gap2−0.60.7−0.5−0.2−0.8−0.20.2−0.2−0.6
Structural balance2,4−5.2−4.1−3.5−3.7−4.0−3.3−2.1−2.4−2.3−2.2
Net debt109.5102.1101.5100.8102.7102.7100.3100.0100.499.0
Gross debt114.8105.6104.4103.8105.8106.5104.0103.6104.0102.6
Japan
Actual balance−4.6−8.0−8.0−6.2−5.0−3.8−3.4−3.4−3.3−2.4
Excluding social security−6.2−7.9−8.1−6.6−5.4−3.8−2.9−2.8−3.0−2.5
Output gap2−0.5−2.3−2.2−1.2−0.9−0.20.2−0.0−0.2
Structural balance2−4.4−7.0−7.1−5.7−4.7−3.7−3.5−3.4−3.2−2.4
Excluding social security−6.8−7.3−7.6−6.3−5.2−3.7−2.9−2.8−2.9−2.5
Net debt36.972.676.582.784.688.490.893.894.794.6
Gross debt108.4160.9167.2178.1191.6194.7195.5197.5196.0186.1
United Kingdom
Actual balance−3.0−1.9−3.3−3.4−3.4−2.6−3.0−3.1−3.2−2.1
Output gap2−0.4−0.1−0.10.5−0.2−0.10.4−0.7−1.6
Structural balance2−2.5−2.0−3.0−3.6−3.2−2.6−3.1−3.1−3.2−1.9
Net debt35.232.534.235.937.838.438.338.938.838.6
Gross debt40.837.739.040.542.443.043.043.543.543.3
Canada
Actual balance−2.7−0.1−0.10.81.61.01.00.10.00.5
Output gap23.50.2−0.7−0.30.20.30.3−1.0−1.8
Structural balance2−2.6−0.20.20.91.50.90.80.50.80.4
Net debt60.342.638.634.430.127.625.124.223.317.2
Gross debt104.789.485.280.278.473.568.466.263.850.4
Note: The methodology and specific assumptions for each country are discussed in Box A1 in this Statistical Appendix.

Debt data refer to end of year. Debt data are not always comparable across countries.

Percent of potential GDP.

Beginning in 1995, the debt and debt-service obligations of the Treuhandanstalt (and of various other agencies) were taken over by general government. This debt is equivalent to 8 percent of GDP, and the associated debt service to ½ to 1 percent of GDP

Excludes one-off receipts from the sale of mobile telephone licenses (the equivalent of 2.5 percent of GDP in 2000 for Germany, 0.1 percent of GDP in 2001 and 2002 for France, and 1.2 percent of GDP in 2000 for Italy). Also excludes one-off receipts from sizable asset transactions, in particular 0.5 percent of GDP for France in 2005

Note: The methodology and specific assumptions for each country are discussed in Box A1 in this Statistical Appendix.

Debt data refer to end of year. Debt data are not always comparable across countries.

Percent of potential GDP.

Beginning in 1995, the debt and debt-service obligations of the Treuhandanstalt (and of various other agencies) were taken over by general government. This debt is equivalent to 8 percent of GDP, and the associated debt service to ½ to 1 percent of GDP

Excludes one-off receipts from the sale of mobile telephone licenses (the equivalent of 2.5 percent of GDP in 2000 for Germany, 0.1 percent of GDP in 2001 and 2002 for France, and 1.2 percent of GDP in 2000 for Italy). Also excludes one-off receipts from sizable asset transactions, in particular 0.5 percent of GDP for France in 2005

Table A9.Summary of World Trade Volumes and Prices(Annual percent change)
Ten-Year Averages
1990–992000–092000200120022003200420052006200720082009
Trade in goods and services
World trade1
Volume6.56.712.20.33.55.410.77.69.26.85.65.8
Price deflator
In U.S. dollars4.5−0.4−3.61.110.49.65.54.98.28.61.1
In SDRs−0.73.43.3−0.1−0.62.03.75.85.44.110.40.8
Volume of trade
Exports
Advanced economies6.55.411.7−0.52.43.39.06.08.25.84.54.2
Emerging and developing economies7.59.413.72.66.910.514.111.110.98.97.18.7
Imports
Advanced economies6.35.111.7−0.52.74.19.36.37.44.23.13.7
Emerging and developing economies6.511.013.73.16.310.116.112.014.412.811.810.7
Terms of trade
Advanced economies−0.4−2.60.30.81.0−0.1−1.5−1.1−1.00.1
Emerging and developing economies−0.72.36.0−2.50.61.13.05.64.71.44.5−0.5
Trade in goods
World trade1
Volume6.76.712.8−0.53.66.310.87.59.16.45.96.0
Price deflator
In U.S. dollars−0.24.60.4−3.70.69.99.96.35.78.48.71.0
In SDRs−0.93.64.0−0.3−1.11.63.96.56.14.310.50.7
World trade prices in U.S. dollars2
Manufactures0.34.1−5.3−3.42.114.49.53.63.89.76.41.4
Oil18.057.0−13.82.515.830.741.320.510.734.3−1.0
Nonfuel primary commodities−2.26.54.2−4.81.95.915.26.123.214.07.0−4.9
Food−2.36.42.5−2.03.56.314.0−0.910.515.218.2−0.9
Beverages−0.53.2−18.4−13.324.34.8−0.918.18.413.89.0−5.0
Agricultural raw materials−0.61.85.5−3.4−0.20.64.10.58.84.9−2.3−0.2
Metals−4.111.113.2−10.3−3.511.834.622.456.217.4−1.3−12.2
World trade prices in SDRs2
Manufactures−0.33.0−1.80.10.45.73.63.94.25.68.11.0
Oil−0.616.962.8−10.70.87.123.641.621.06.536.5−1.4
Nonfuel primary commodities−2.95.48.1−1.30.2−2.19.06.323.89.78.7−5.2
Food−2.95.46.21.51.8−1.77.8−0.711.010.820.1−1.2
Beverages−1.12.2−15.4−10.222.2−3.1−6.318.38.89.510.8−5.4
Agricultural raw materials−1.20.89.40.1−1.9−7.0−1.60.89.30.9−0.7−0.5
Metals−4.810.017.4−7.0−5.13.327.322.756.912.90.3−12.4
World trade prices in euros2
Manufactures0.70.79.3−0.3−3.1−4.5−0.43.42.90.5−0.90.9
Oil0.414.381.3−11.1−2.8−3.318.941.019.51.425.1−1.5
Nonfuel primary commodities−1.93.120.4−1.8−3.3−11.64.85.922.34.5−0.3−5.3
Food−2.03.018.31.1−1.8−11.23.7−1.19.65.610.1−1.3
Beverages−0.1−0.1−5.7−10.517.9−12.5−9.917.87.54.21.6−5.5
Agricultural raw materials−0.3−1.521.8−0.4−5.4−16.0−5.30.38.0−3.9−9.0−0.6
Metals−3.87.630.7−7.4−8.4−6.722.422.255.07.5−8.1−12.5
Trade in goods
Volume of trade
Exports
Advanced economies6.45.412.5−1.52.33.98.75.58.65.34.84.3
Emerging and developing economies7.49.414.01.96.911.414.010.810.88.77.08.8
Fuel exporters2.65.27.00.52.811.38.85.93.61.74.45.9
Nonfuel exporters9.510.916.22.58.311.515.812.613.711.78.09.9
Imports
Advanced economies6.75.212.3−1.53.05.09.56.27.63.83.53.6
Emerging and developing economies6.811.214.63.16.211.416.912.412.512.312.211.3
Fuel exporters−0.613.811.016.08.510.115.917.613.214.217.814.4
Nonfuel exporters9.010.715.20.95.811.717.111.412.311.910.910.6
Price deflators in SDRs
Exports
Advanced economies−1.12.70.5−0.1−0.82.53.13.84.14.09.31.1
Emerging and developing economies0.16.514.6−0.90.11.57.513.910.75.114.3−0.1
Fuel exporters0.613.444.1−7.30.84.817.132.418.18.028.0−1.3
Nonfuel exporters−0.23.95.71.5−0.10.44.27.27.63.99.10.3
Imports
Advanced economies−1.43.23.6−0.6−1.91.23.25.85.74.210.41.1
Emerging and developing economies0.73.86.61.2−0.60.24.37.06.74.18.90.1
Fuel exporters1.03.62.20.31.10.34.57.27.94.68.4
Nonfuel exporters0.53.87.41.3−0.90.24.26.96.44.09.00.1
Terms of trade
Advanced economies0.3−0.5−3.10.51.11.3−0.1−1.9−1.5−0.1−1.1
Emerging and developing economies−0.72.67.5−2.10.71.23.16.43.80.95.0−0.2
Regional groups
Africa−0.45.413.2−3.50.22.84.114.29.33.611.6−0.1
Central and eastern Europe−0.70.1−2.33.61.0−0.31.2−0.9−1.61.1−0.90.4
Commonwealth of Independent States3−2.17.524.2−2.7−2.211.012.315.38.52.212.1−2.3
Developing Asia−0.2−0.6−4.30.90.5−0.4−2.3−0.6−0.4−1.00.41.2
Middle East0.38.339.7−8.21.7−0.110.323.66.31.916.5−1.2
Western Hemisphere−0.83.17.3−4.21.62.96.05.58.32.34.3−2.2
Analytical groups
By source of export earnings

Fuel exporters
−0.49.541.0−7.5−0.34.512.123.69.53.218.1−1.3
Nonfuel exporters−0.70.1−1.50.20.70.20.31.1−0.10.10.2
Memorandum
World exports in billions of U.S. dollars
Goods and services5,75212,8987,8797,6077,9869,29811,28012,81714,70017,01919,53520,855
Goods4,58410,3886,3486,0746,3537,4259,01610,29011,88713,72915,83616,923
Average oil price418.057.0−13.82.515.830.741.320.510.734.3−1.0
In U.S. dollars a barrel18.2052.2928.224.325.028.937.853.464.371.195.594.5
Export unit value of manufactures50.34.1−5.3−3.42.114.49.53.63.89.76.41.4

Average of annual percent change for world exports and imports.

As represented, respectively, by the export unit value index for the manufactures of the advanced economies; the average of U.K. Brent, Dubai, and West Texas Intermediate crude oil prices; and the average of world market prices for nonfuel primary commodities weighted by their 2002–04 shares in world commodity exports.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

Average of U.K. Brent, Dubai, and West Texas Intermediate crude oil prices.

For the manufactures exported by the advanced economies.

Average of annual percent change for world exports and imports.

As represented, respectively, by the export unit value index for the manufactures of the advanced economies; the average of U.K. Brent, Dubai, and West Texas Intermediate crude oil prices; and the average of world market prices for nonfuel primary commodities weighted by their 2002–04 shares in world commodity exports.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

Average of U.K. Brent, Dubai, and West Texas Intermediate crude oil prices.

For the manufactures exported by the advanced economies.

Table A10.Summary of Balances on Current Account(Billions of U.S. dollars)
20002001200220032004200520062007200820092013
Advanced economies263.3205.0208.8207.0224.2438.7525.2463.3464.2460.1603.3
United States−417.4−384.7−459.6−522.1−640.2−754.9−811.5−738.6−614.7−605.5−676.0
Euro area1−35.18.450.145.2108.223.6−6.4−30.0−98.0−121.1−180.1
Japan119.687.8112.6136.2172.1165.7170.4212.8193.3198.5189.1
Other advanced economies269.683.588.1133.6135.7126.9122.292.655.268.063.6
Memorandum
Newly industrialized Asian economies38.946.854.679.280.673.582.7102.382.084.7100.2
Emerging and developing economies86.941.176.6144.3213.6439.5606.7630.9729.4662.2694.0
Regional groups
Africa8.31.3−8.6−3.92.015.829.61.621.712.7−8.0
Central and eastern Europe−31.3−15.8−24.0−37.2−59.3−61.3−90.9−121.5−150.3−151.9−164.5
Commonwealth of Independent States348.333.130.236.063.888.397.876.1106.262.8−90.2
Developing Asia38.536.764.882.689.2161.4277.5383.5367.5407.1702.4
Middle East71.539.930.359.197.1200.3247.3274.6398.3370.3317.6
Western Hemisphere−48.3−54.0−16.07.720.835.045.416.4−14.1−38.9−63.3
Memorandum
European Union−81.4−26.422.223.663.0−32.4−113.1−202.8−294.5−310.0−422.3
Analytical groups
By source of export earnings
Fuel151.783.661.6106.4185.9349.7432.4423.5619.6548.0326.6
Nonfuel−64.8−42.515.037.927.789.8174.3207.3109.8114.2367.4
of which, primary products−2.4−3.5−4.5−2.90.69.99.20.3−3.7−10.1
By external financing source
Net debtor countries−95.4−72.6−34.9−30.9−70.3−102.1−109.3−187.8−282.6−319.2−404.1
of which, official financing−5.1−3.9−4.2−5.7−5.6−6.1−6.5−17.2−24.8−24.8−33.8
Net debtor countries by debt-servicing experience
Countries with arrears and/or rescheduling during 2002–06−8.4−5.112.015.00.1−9.10.1−16.1−27.9−34.0−58.1
World1176.4163.8132.262.810.50.981.5167.6265.2202.190.6
Memorandum
In percent of total world current

account transactions
−1.1−1.1−0.8−0.30.30.50.70.50.2
In percent of world GDP−0.6−0.5−0.4−0.20.20.30.40.30.1

Reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual euro area countries. See “Classification of Countries” in the introduction to this Statistical Appendix.

In this table, other advanced economies means advanced economies excluding the United States, euro area countries, and Japan.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

Reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual euro area countries. See “Classification of Countries” in the introduction to this Statistical Appendix.

In this table, other advanced economies means advanced economies excluding the United States, euro area countries, and Japan.

Mongolia, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarities in economic structure.

Table A11.Advanced Economies: Balance on Current Account(Percent of GDP)
20002001200220032004200520062007200820092013
Advanced economies1.00.80.80.70.71.31.51.21.11.11.1
United States−4.3−3.8−4.4−4.8−5.5−6.1−6.2−5.3−4.3−4.2−3.8
Euro area1−0.60.10.70.51.10.2−0.1−0.2−0.7−0.9−1.0
Germany−1.72.01.94.34.65.05.65.24.93.7
France1.61.91.40.80.5−0.9−1.3−1.3−2.4−2.5−2.0
Italy−0.5−0.1−0.8−1.3−0.9−1.6−2.6−2.2−2.4−2.3−2.0
Spain−4.0−3.9−3.3−3.5−5.3−7.4−8.6−10.1−10.5−10.3−9.2
Netherlands1.92.42.55.57.57.28.36.65.95.65.1
Belgium4.03.44.64.13.52.62.73.22.92.81.6
Austria−0.7−0.82.71.72.12.02.42.72.92.91.8
Finland8.18.68.85.16.53.64.64.63.83.93.5
Greece−7.8−7.2−6.5−6.4−5.8−7.4−11.0−13.9−13.9−14.1−12.4
Portugal−10.2−9.9−8.1−6.1−7.7−9.7−9.4−9.4−9.5−9.5−8.3
Ireland−0.4−0.6−1.0−0.6−3.5−4.2−4.5−3.2−2.9−2.0
Luxembourg13.28.811.78.011.610.910.39.58.27.35.8
Slovenia−2.70.21.0−0.8−2.7−2.0−2.8−4.8−4.8−4.9−4.1
Cyprus−5.3−3.3−3.7−2.2−5.0−5.6−5.9−7.1−7.7−7.1−4.8
Malta−13.1−4.12.5−3.1−6.0−8.7−6.7−6.2−6.1−5.8−4.1
Japan2.62.12.93.23.73.63.94.94.03.93.3
United Kingdom−2.6−2.2−1.6−1.3−1.6−2.5−3.9−4.9−4.8−4.4−4.7
Canada2.72.31.71.22.32.01.60.9−0.9−1.20.7
Korea2.41.71.02.04.11.90.60.6−1.0−0.9−1.1
Australia−3.8−2.0−3.8−5.4−6.0−5.8−5.5−6.2−6.3−5.3−5.7
Taiwan Province of China2.86.38.69.65.64.56.78.37.88.18.2
Sweden4.04.35.07.26.76.88.58.36.46.77.5
Switzerland12.37.88.312.912.913.515.117.215.413.814.5
Hong Kong SAR4.15.97.610.49.511.412.112.39.98.36.4
Denmark1.43.12.53.43.14.32.71.10.71.31.1
Norway15.016.112.612.312.716.317.316.320.020.418.0
Israel−0.8−1.1−0.81.22.43.36.03.11.81.71.1
Singapore11.612.512.623.216.718.621.824.320.618.915.1
New Zealand−5.1−2.8−3.9−4.3−6.4−8.5−8.6−8.1−7.1−7.1−6.2
Iceland−10.2−4.31.5−4.8−9.8−16.1−25.4−15.6−8.0−5.3−2.6
Memorandum
Major advanced economies−1.6−1.4−1.4−1.5−1.4−2.0−2.3−1.8−1.6−1.5−1.5
Euro area2−1.5−0.30.80.40.80.1−0.20.1−0.5−0.8−1.0
Newly industrialized Asian economies3.54.65.06.86.35.15.26.04.54.33.8

Calculated as the sum of the balances of individual euro area countries.

Corrected for reporting discrepancies in intra-area transactions.

Calculated as the sum of the balances of individual euro area countries.

Corrected for reporting discrepancies in intra-area transactions.

Table A12.Emerging and Developing Economies, by Country: Balance on Current Account(Percent of GDP)
20002001200220032004200520062007200820092013
Africa1.90.3−1.9−0.70.31.93.10.11.70.9−0.4
Algeria16.712.97.713.013.120.625.223.226.020.612.6
Angola8.7−16.0−1.3−5.23.516.823.311.012.011.88.0
Benin−7.7−6.4−8.4−8.3−7.2−5.9−6.2−5.7−6.1−6.0−6.2
Botswana8.89.93.35.62.915.317.616.88.68.37.3
Burkina Faso−12.3−11.2−9.9−8.9−10.4−11.3−9.6−9.9−11.5−10.7−9.9
Burundi−8.6−4.6−3.5−4.6−8.1−9.6−14.4−12.4−12.0−12.2−13.0
Cameroon−1.4−3.6−5.1−1.8−3.8−3.40.70.4−0.4−2.7
Cape Verde−10.9−10.6−11.1−11.1−14.3−3.4−5.1−10.1−11.6−12.8−15.5
Central African Republic−1.3−1.7−1.6−2.2−1.8−6.6−2.7−4.5−6.4−6.7−5.4
Chad−15.4−30.8−92.9−46.8−16.02.1−9.5−4.3−2.2−4.0−10.0
Comoros1.73.0−1.7−3.8−4.6−6.5−5.21.9−3.5−4.3−5.4
Congo, Dem. Rep. of−4.0−4.0−1.61.0−2.4−10.5−2.4−4.0−10.7−24.6−8.4
Congo, Rep. of7.9−5.60.6−4.112.711.41.6−19.56.010.9−3.8
Côte d’Ivoire−2.8−0.66.72.11.60.23.11.40.6−0.5−3.4
Djibouti−9.0−2.9−1.63.4−1.31.3−14.2−25.2−22.6−17.8−9.3
Equatorial Guinea−15.7−41.10.9−33.2−22.3−5.44.51.82.91.5−3.3
Eritrea−0.6−4.66.89.7−0.70.3−3.3−4.7−5.1−5.5−0.4
Ethiopia−4.2−3.0−4.7−1.4−4.0−6.3−9.1−4.5−4.3−6.1−2.5
Gabon19.711.06.89.511.219.818.012.815.314.311.5
Gambia, The−3.1−2.6−2.8−5.1−6.1−15.1−11.5−10.7−12.1−10.9−7.7
Ghana−8.4−5.30.51.7−2.7−7.0−10.9−12.8−9.8−7.9−9.7
Guinea−6.4−2.7−2.5−3.4−5.8−4.5−5.9−9.2−10.9−9.8−14.4
Guinea-Bissau−5.6−22.1−10.7−2.82.4−5.1−11.3−1.77.02.8−3.9
Kenya−2.3−3.12.2−0.20.1−0.8−2.5−3.5−5.5−3.8−2.8
Lesotho−18.0−12.4−19.4−12.3−5.5−7.04.44.85.04.53.5
Liberia−15.6−14.91.0−14.2−5.6−13.3−31.0−30.7−42.1−36.2−8.1
Madagascar−5.6−1.3−6.0−4.9−9.2−11.1−8.7−15.1−27.4−16.7−7.1
Malawi−5.3−6.8−12.9−7.2−8.5−12.3−6.2−3.2−2.9−4.4−4.9
Mali−10.0−10.4−3.1−6.2−8.4−8.3−4.9−6.6−7.5−6.7−6.4
Mauritania−9.0−11.73.0−13.6−34.6−47.2−1.3−6.7−8.6−12.05.1
Mauritius−1.53.45.72.40.8−3.5−5.3−7.9−6.3−5.8−2.5
Morocco−1.34.33.63.21.71.92.8−0.1−1.1−0.9−0.3
Mozambique−12.1−11.7−13.5−10.5−6.3−11.419.7−9.4−11.3−10.3−9.6
Namibia9.01.93.76.78.25.515.918.412.810.05.1
Niger−`6.7−5.1−6.6−8.3−7.8−9.3−8.6−7.7−9.7−14.0−9.0
Nigeria11.74.9−13.1−6.15.07.19.50.76.55.74.9
Rwanda−5.0−6.0−7.4−7.4−2.8−2.9−6.5−4.8−9.5−12.7−8.8
São Tomé and Príncipe−17.5−21.0−16.4−13.2−17.3−13.6−45.7−35.5−36.1−32.9−34.6
Senegal−6.6−4.4−5.7−6.1−6.1−7.8−9.8−8.1−10.3−11.1−10.5
Seychelles−7.3−23.4−16.30.4−7.0−23.6−17.2−38.7−44.9−41.4−30.0
Sierra Leone−8.8−6.3−2.0−4.8−5.8−7.1−3.6−3.8−6.4−5.9−5.9
South Africa−0.10.30.8−1.1−3.2−4.0−6.5−7.3−7.7−7.9−6.5
Sudan−8.2−12.5−10.3−7.8−6.5−10.9−15.1−11.8−9.8−5.6−6.2
Swaziland−4.9−4.34.86.82.2−3.1−3.71.2−1.4−1.6−2.4
Tanzania−4.8−4.5−6.2−4.2−3.6−4.1−7.8−9.2−9.7−10.1−10.0
Togo−9.0−9.3−5.5−4.2−3.0−5.3−6.0−6.4−7.9−6.7−5.2
Tunisia−4.2−5.1−3.6−2.9−2.0−1.1−2.0−2.5−2.7−2.7−2.6
Uganda−7.1−3.9−4.9−5.8−2.2−3.2−4.0−2.0−7.7−9.3−5.5
Zambia−18.2−19.9−15.3−14.8−11.8−9.11.1−6.7−5.5−3.9−7.1
Zimbabwe10.4−0.3−0.6−2.9−8.3−11.0−6.0−1.0
Central and eastern Europe−4.7−2.5−3.3−4.2−5.4−4.7−6.2−6.6−7.2−6.9−5.5
Albania−3.7−3.7−7.2−5.2−4.0−6.6−5.9−8.3−8.3−5.5−4.2
Bosnia and Herzegovina−6.9−12.5−17.8−19.4−16.3−18.0−8.4−13.0−14.0−15.3−13.1
Bulgaria−5.6−5.6−2.4−5.5−6.6−12.0−15.6−21.4−21.9−18.9−6.7
Croatia−2.9−3.7−8.4−6.2−4.9−6.2−7.9−8.5−9.0−8.7−6.4
Czech Republic−4.7−5.3−5.7−6.3−5.3−1.6−3.1−2.5−3.0−2.8−2.8
Estonia−5.4−5.2−10.6−11.3−12.3−10.0−15.5−16.0−11.2−11.2−10.0
Hungary−8.4−6.0−7.0−7.9−8.4−6.8−6.5−5.6−5.5−5.1−4.2
Latvia−4.8−7.6−6.6−8.2−12.8−12.5−22.3−23.3−15.0−10.5−4.8
Lithuania−5.9−4.7−5.2−6.9−7.7−7.1−10.8−13.0−10.5−8.8−8.0
Macedonia, FYR−1.9−7.2−9.4−3.3−7.7−1.3−0.4−2.7−6.8−6.0−3.4
Montenegro, Rep. of−7.3−7.2−8.6−30.4−37.0−32.7−29.1−18.2
Poland−5.8−2.8−2.5−2.1−4.2−1.6−3.2−3.7−5.0−5.7−6.2
Romania−3.7−5.5−3.3−5.8−8.4−8.9−10.4−13.9−14.5−13.0−8.5
Serbia−1.7−2.4−7.9−7.0−11.7−8.5−12.5−16.5−16.1−15.8−14.8
Slovak Republic−3.3−8.3−8.0−5.9−7.8−8.5−7.1−5.3−5.0−4.7−3.8
Turkey−3.71.8−0.7−2.6−4.0−4.7−6.1−5.7−6.7−6.3−4.8
Commonwealth of Independent States213.78.06.56.38.28.87.54.54.82.4−2.0
Russia18.011.18.48.210.111.09.55.95.82.9−2.1
Excluding Russia1.5−0.80.90.42.31.61.1−0.11.50.9−1.8
Armenia−14.6−9.5−6.2−6.8−0.5−1.0−1.8−6.5−6.8−5.0−5.7
Azerbaijan−3.5−0.9−12.3−27.8−29.81.317.728.839.539.20.9
Belarus−3.2−3.3−2.2−2.4−5.21.4−4.1−6.6−7.5−7.7−5.5
Georgia−7.9−6.4−6.8−8.6−8.9−11.9−15.9−19.7−16.6−13.2−10.6
Kazakhstan3.0−5.4−4.2−0.90.8−1.8−2.2−6.6−1.7−1.01.2
Kyrgyz Republic−4.3−1.5−4.01.74.93.2−6.6−6.5−8.3−7.4−6.3
Moldova−7.6−1.7−4.0−6.6−2.3−10.3−12.0−9.7−10.3−10.6−10.5
Mongolia−5.0−6.6−8.5−6.81.51.37.0−0.6−17.1−17.6−1.6
Tajikistan−1.6−4.9−3.5−1.3−3.9−2.7−3.0−9.5−8.3−7.1−3.9
Turkmenistan8.21.76.72.70.65.115.316.823.628.132.2
Ukraine4.73.77.55.810.62.9