Chapter

Online Tables

Author(s):
International Monetary Fund. Research Dept.
Published Date:
April 2012
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Table B1.Advanced Economies: Unemployment, Employment, and Real per Capita GDP(Percent)
Averages1Projections
1994–20032004–132004200520062007200820092010201120122013
Unemployment Rate2
Advanced Economies6.77.06.56.35.85.45.88.08.37.97.97.8
United States5.17.05.55.14.64.65.89.39.69.08.27.9
Euro Area9.79.49.39.28.57.67.79.610.110.110.910.8
Germany8.88.010.511.210.28.87.67.77.16.05.65.5
France10.39.39.29.39.28.47.89.59.89.79.910.1
Italy10.37.98.07.76.86.16.87.88.48.49.59.7
Spain17.115.611.09.28.58.311.318.020.121.624.223.9
Netherlands4.64.55.15.34.43.63.13.74.54.55.55.5
Belgium8.57.98.48.58.37.57.07.98.37.28.08.3
Austria4.14.54.95.24.84.43.84.84.44.24.44.3
Greece10.312.310.59.98.98.37.79.412.517.319.419.4
Portugal5.69.96.77.67.78.07.69.510.812.714.414.0
Finland11.87.88.88.47.76.96.48.28.47.87.77.8
Ireland7.99.24.54.44.44.66.311.813.614.414.513.8
Slovak Republic15.613.518.116.213.311.09.612.114.413.413.813.6
Slovenia7.06.76.36.56.04.94.45.97.38.18.78.9
Luxembourg2.95.13.94.34.54.44.45.86.26.06.06.0
Estonia10.59.89.77.95.94.75.513.817.312.511.310.0
Cyprus3.56.14.75.44.53.93.75.46.27.89.59.6
Malta6.56.77.27.36.96.56.16.96.96.46.66.5
Japan4.24.54.74.44.13.84.05.15.14.54.54.4
United Kingdom6.76.64.84.85.45.45.67.57.98.08.38.2
Canada8.47.17.26.86.36.16.28.38.07.57.47.3
Korea3.83.53.73.73.53.33.23.73.73.43.33.3
Australia7.55.05.45.14.84.44.35.65.25.15.25.2
Taiwan Province of China3.24.54.44.13.93.94.15.95.24.44.44.3
Sweden7.47.36.37.67.06.16.28.38.47.57.57.7
Hong Kong SAR4.64.56.85.64.84.03.55.24.33.43.53.5
Switzerland3.13.23.53.42.92.42.63.73.83.13.43.6
Singapore2.52.53.43.12.72.12.23.02.22.02.12.1
Czech Republic6.88.37.97.15.34.46.77.36.77.07.4
Norway4.13.54.54.63.42.52.63.23.63.33.63.5
Israel8.67.310.49.08.47.36.27.66.75.66.05.8
Denmark5.55.25.54.83.93.83.46.17.56.15.85.5
New Zealand6.45.04.13.83.83.74.26.16.56.56.05.4
Iceland3.13.03.12.11.31.01.68.08.17.46.36.0
Memorandum
Major Advanced Economies6.46.96.56.35.85.55.98.08.27.77.47.3
Newly Industrialized Asian Economies3.7 3.84.24.03.73.43.44.34.13.63.53.5
Growth in Employment
Advanced Economies1.00.51.01.31.51.40.5–2.2–0.10.30.60.9
United States1.40.51.11.81.91.1–0.5–3.8–0.60.61.41.6
Euro Area1.50.30.81.11.61.80.7–1.8–0.50.1–0.80.2
Germany0.30.60.3–0.10.61.71.30.10.51.30.30.2
France1.10.30.10.61.01.40.6–1.20.00.30.20.3
Italy0.60.31.40.71.91.00.8–1.6–0.60.4–1.10.1
Spain3.00.03.54.13.93.0–0.4–6.6–2.3–1.8–3.20.1
Japan–0.2–0.20.20.40.40.5–0.4–1.6–0.4–2.31.40.2
United Kingdom1.10.41.11.00.90.70.7–1.60.30.50.10.7
Canada2.01.31.71.31.82.41.7–1.61.41.51.41.4
Other Advanced Economies31.31.41.51.91.82.01.8–0.41.31.81.01.3
Memorandum
Major Advanced Economies0.90.40.81.01.31.10.1–2.3–0.20.20.90.9
Newly Industrialized Asian Economies1.4 1.31.91.81.51.61.2–0.31.41.81.11.1
Growth in Real per Capita GDP
Advanced Economies2.11.02.41.92.32.0–0.7–4.32.61.00.81.5
United States2.20.82.52.11.70.9–1.3–4.32.21.01.21.4
Euro Area1.90.61.61.12.72.4–0.2–4.61.61.1–0.60.7
Germany1.31.50.70.94.03.51.0–4.83.73.00.81.7
France1.70.51.61.12.01.6–0.7–3.11.11.30.00.5
Italy1.6–0.70.7–0.11.71.0–2.0–6.21.30.0–2.3–0.7
Spain3.0–0.11.61.92.41.8–0.9–4.9–0.40.4–2.3–0.3
Japan0.70.92.31.31.72.2–1.0–5.44.4–0.92.42.2
United Kingdom3.20.52.51.42.02.8–1.7–5.01.40.00.11.4
Canada2.50.72.12.01.81.1–0.5–4.02.01.40.70.7
Other Advanced Economies33.22.64.13.43.83.90.6–2.05.02.51.82.7
Memorandum
Major Advanced Economies1.90.72.11.62.01.6–1.0–4.62.50.81.01.3
Newly Industrialized Asian Economies4.23.75.34.25.05.01.2–1.28.03.62.73.5

Compound annual rate of change for employment and per capita GDP; arithmetic average for unemployment rate.

National definitions of unemployment may vary.

In this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Compound annual rate of change for employment and per capita GDP; arithmetic average for unemployment rate.

National definitions of unemployment may vary.

In this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Table B2.Emerging and Developing Economies: Real GDP(Annual percent change)
AverageProjections
1994–200320042005200620072008200920102011201220132017
Emerging and Developing Economies4.4 7.57.38.28.76.02.87.56.25.76.06.3
Regional Groups
Central and Eastern Europe3.47.35.96.45.43.2–3.64.55.31.92.94.0
Commonwealth of Independent States10.68.26.78.89.05.4–6.44.84.94.24.14.2
Russia0.77.26.48.28.55.2–7.84.34.34.03.93.8
Excluding Russia0.310.87.610.510.05.6–3.16.06.24.64.64.9
Developing Asia7.08.59.510.311.47.87.19.77.87.37.97.9
China9.410.111.312.714.29.69.210.49.28.28.88.5
India6.07.69.09.510.06.26.610.67.26.97.38.1
Excluding China and India4.26.36.26.06.54.82.36.54.55.35.95.9
Latin America and the Caribbean2.56.04.75.75.84.2–1.66.24.53.74.14.0
Brazil2.55.73.24.06.15.2–0.37.52.73.04.14.1
Mexico2.64.03.25.13.21.2–6.35.54.03.63.73.3
Middle East and North Africa3.96.25.66.15.64.72.74.93.54.23.74.4
Sub-Saharan Africa4.07.16.26.47.15.62.85.35.15.45.35.5
Excluding Nigeria and South Africa4.17.37.17.18.16.73.75.65.46.35.75.9
Analytical groups
By Source of Export Earnings
Fuel2.48.06.87.67.45.0–1.34.64.54.84.14.1
Nonfuel4.97.47.48.49.16.33.88.16.65.96.56.8
Of Which, Primary Products3.85.66.36.26.86.31.87.16.65.75.75.7
By External Financing Source
Net Debtor Economies3.66.56.06.86.94.70.96.95.24.34.95.5
Of Which, Official Financing3.46.46.46.05.96.35.25.57.15.85.85.9
Net Debtor Economies by Debt- Servicing Experience
Economies with Arrears and/or Rescheduling during 2006–102.67.17.87.77.65.81.96.96.14.14.45.0
Other Groups
Heavily Indebted Poor Countries3.85.76.46.16.55.74.55.64.74.95.15.7
Memorandum
Real per Capita GDP
Emerging and Developing Economies3.16.46.17.17.54.91.66.35.34.75.15.3
Central and Eastern Europe2.86.95.56.15.02.7–4.04.15.01.72.53.7
Commonwealth of Independent States10.98.57.19.19.05.4–6.74.15.04.44.34.4
Developing Asia5.67.58.49.310.46.86.18.76.96.47.07.0
Latin America and the Caribbean0.94.73.44.44.42.9–2.94.93.32.63.02.8
Middle East and North Africa1.63.62.53.22.41.7–0.22.72.02.11.62.3
Sub-Saharan Africa1.74.94.14.34.63.40.63.12.93.23.03.2

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Table B3.Advanced Economies: Hourly Earnings, Productivity, and Unit Labor Costs in Manufacturing(Annual percent change)
AveragesProjections
1994–20032004–132004200520062007200820092010201120122013
Hourly Earnings1
Advanced Economies3.72.62.23.22.73.23.72.90.92.22.32.9
United States4.42.80.83.32.03.24.34.51.51.82.83.5
Euro Area3.42.53.02.92.73.43.93.90.21.91.71.7
Germany3.12.10.82.12.62.62.73.5–1.22.43.32.8
France2.63.04.93.63.53.83.01.11.22.63.13.1
Italy3.02.73.62.11.43.26.25.9–1.42.61.51.9
Spain4.12.83.34.34.13.74.85.01.41.00.40.0
Japan1.00.40.41.30.40.01.4–1.3–1.02.0–0.21.6
United Kingdom4.33.03.63.75.13.53.01.83.81.12.32.3
Canada2.82.23.34.75.12.81.81.1–2.51.81.42.3
Other Advanced Economies25.74.15.54.75.25.44.61.21.84.44.24.4
Memorandum
Major Advanced Economies3.42.41.52.92.32.73.53.00.72.02.22.9
Newly Industrialized Asian Economies7.74.87.16.25.95.95.00.50.85.75.35.3
Productivity1,3
Advanced Economies3.82.23.53.93.03.4–0.8–3.47.21.91.62.1
United States4.72.62.34.80.93.9–0.60.66.02.62.43.0
Euro Area3.31.43.33.53.83.2–1.5–6.25.02.20.40.7
Germany3.31.84.45.88.55.5–3.9–14.98.04.71.01.4
France4.31.24.15.03.02.7–0.8–6.52.71.40.20.7
Italy1.00.41.20.90.70.6–0.8–2.52.80.40.60.5
Spain3.71.91.61.81.3–0.3–2.02.16.23.42.82.6
Japan2.80.24.51.92.72.1–3.9–15.513.6–1.2–0.30.8
United Kingdom2.92.55.54.95.03.2–0.1–4.96.81.61.91.9
Canada2.21.20.83.62.60.5–1.1–1.43.71.21.00.9
Other Advanced Economies24.34.36.64.06.74.72.70.710.51.52.83.5
Memorandum
Major Advanced Economies3.81.93.14.22.53.3–1.4–4.56.91.91.52.0
Newly Industrialized Asian Economies6.66.78.75.410.76.64.51.618.82.24.25.1
Unit Labor Costs
Advanced Economies0.00.5–1.3–0.7–0.2–0.24.66.9–5.60.40.70.7
United States–0.40.2–1.4–1.41.1–0.64.93.9–4.2–0.80.40.5
Euro Area0.11.1–0.3–0.6–1.00.25.510.8–4.6–0.31.31.0
Germany–0.20.3–3.4–3.5–5.5–2.86.821.6–8.6–2.22.31.4
France–1.61.70.8–1.30.51.13.88.1–1.51.22.82.4
Italy1.92.22.41.20.72.67.08.6–4.12.20.91.3
Spain0.40.81.62.52.84.16.92.8–4.6–2.3–2.4–2.5
Japan–1.80.2–4.0–0.6–2.2–2.15.616.8–12.83.20.10.8
United Kingdom41.30.5–1.8–1.20.20.23.07.0–2.8–0.50.40.4
Canada0.61.02.51.12.42.23.02.5–5.90.60.41.3
Other Advanced Economies21.40.0–1.30.5–1.30.62.00.6–6.53.01.41.0
Memorandum
Major Advanced Economies–0.30.5–1.5–1.2–0.1–0.55.08.3–5.70.10.80.8
Newly Industrialized Asian Economies1.3–1.7–2.10.3–4.2–0.80.8–1.1–13.73.71.10.2

The group composites ate computed if at least 85 percent of the share of group weights is represented.

In this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Refers to labor productivity, measured as the ratio of hourly compensation to unit labor costs.

Data refer to unit wage cost.

The group composites ate computed if at least 85 percent of the share of group weights is represented.

In this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Refers to labor productivity, measured as the ratio of hourly compensation to unit labor costs.

Data refer to unit wage cost.

Table B4.Emerging and Developing Economies: Consumer Prices(Annual percent change)
AverageProjections
1994–200320042005200620072008200920102011201220132017
Emerging and Developing Economies19.85.95.75.66.59.25.26.17.16.25.64.5
Regional Groups
Central and Eastern Europe37.76.65.95.96.08.14.75.35.36.24.53.8
Commonwealth of Independent States162.910.412.19.49.715.611.27.210.17.17.76.5
Russia57.510.912.79.79.014.111.76.98.44.86.46.5
Excluding Russia79.19.010.68.811.519.510.17.914.012.710.76.4
Developing Asia6.14.13.74.25.47.43.05.76.55.04.63.6
China4.93.91.81.54.85.9–0.73.35.43.33.03.0
India7.03.94.06.36.48.310.912.08.68.27.34.0
Excluding China and India7.74.87.68.16.110.15.05.57.36.66.05.0
Latin America and the Caribbean25.76.66.35.35.47.96.06.06.66.45.95.6
Brazil52.76.66.94.23.65.74.95.06.65.25.04.5
Mexico15.04.74.03.64.05.15.34.23.43.93.03.0
Middle East and North Africa8.26.65.67.610.113.66.66.99.69.58.76.9
Sub-Saharan Africa20.27.68.96.96.911.710.67.48.29.67.55.3
Excluding Nigeria and South Africa30.28.89.17.97.411.911.86.89.011.17.84.9
Analytical Groups
By Source of Export Earnings
Fuel32.99.89.69.110.215.09.48.210.29.08.77.7
Nonfuel16.65.04.84.75.67.94.25.66.55.64.93.9
Of Which, Primary Products19.34.05.15.25.39.25.13.85.95.54.54.1
By External Financing Source
Net Debtor Economies22.05.65.95.96.29.07.47.27.47.26.34.7
Of Which, Official Financing19.76.67.87.68.013.79.16.59.710.98.75.4
Net Debtor Economies by Debt-Servicing Experience
Economies with Arrears and/or Rescheduling during 2006–1019.17.98.18.88.311.56.58.011.612.210.17.3
Other Groups
Heavily Indebted Poor Countries19.16.98.47.57.712.710.86.69.311.99.25.4
Memorandum
Median
Emerging and Developing Economies6.74.45.56.06.310.34.04.45.85.25.04.0
Central and Eastern Europe18.13.33.53.84.68.73.42.84.02.42.52.7
Commonwealth of Independent States162.27.010.08.610.214.86.57.38.45.57.06.0
Developing Asia5.44.05.35.16.28.94.25.16.75.85.34.0
Latin America and the Caribbean6.34.44.95.05.88.52.93.85.65.14.74.0
Middle East and North Africa3.33.63.54.95.711.22.84.25.04.84.04.1
Sub-Saharan Africa8.44.26.46.36.710.47.24.26.36.55.34.7

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Table B5.Summary of Fiscal and Financial Indicators(Percent)
Projections
2004200520062007200820092010201120122013
Advanced Economies
Central Government Net Lending/Borrowing1–2.9–2.2–1.1–1.1–2.9–7.3–6.6–5.4–4.8–3.7
United States–3.6–2.8–1.8–2.2–5.6–11.9–10.0–9.0–7.7–5.8
Euro Area–2.5–2.3–1.6–1.1–2.1–5.1–5.2–3.2–2.7–2.2
Japan–5.4–4.3–1.7–2.0–2.8–6.5–6.9–7.1–7.1–6.6
Other Advanced Economies2–0.40.30.91.20.1–3.4–2.8–2.2–1.7–0.9
General Government Net Lending/Borrowing1–3.4–2.3–1.4–1.1–3.5–8.8–7.6–6.5–5.6–4.4
United States–4.4–3.2–2.0–2.7–6.7–13.0–10.5–9.6–8.1–6.3
Euro Area–2.9–2.5–1.3–0.7–2.1–6.4–6.2–4.1–3.2–2.7
Japan–5.9–3.4–3.7–2.1–4.1–10.4–9.4–10.1–10.0–8.7
Other Advanced Economies2–0.50.41.01.3–0.2–4.2–3.7–2.8–2.3–1.4
General Government Structural Balance3–3.6–2.7–2.1–2.1–3.5–5.8–5.8–5.2–4.3–3.3
Long-Term Interest Rate43.83.64.04.23.73.33.23.12.93.2
United States4.34.34.84.63.73.33.22.82.32.9
Euro Area4.13.43.94.44.33.83.64.24.24.3
Japan1.51.41.71.71.51.41.21.11.11.5
Emerging and Developing Economies
Central Government Net Lending/Borrowing1
Weighted Average0.31.52.12.11.7–2.3–1.20.71.21.0
Median–1.9–1.8–1.0–1.0–1.1–3.7–3.2–2.6–2.8–2.3
General Government Net Lending/Borrowing1
Weighted Average–0.80.81.51.31.0–4.0–2.8–1.1–1.0–1.1
Median–1.8–1.6–0.6–1.0–0.9–4.1–3.1–2.6–2.7–2.1
Growth of Broad Money
Weighted Average16.919.221.420.818.116.316.416.815.913.2
Median16.116.118.618.815.710.913.712.412.010.7
Note: The country group composites for fiscal data are calculated as the sum of the U.S. dollar values for the relevant individual countries.

Percent of GDP.

In this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Percent of potential GDP.

Annual data are period averages: for the United States, 10-year Treasury bond yield at constant maturity; for Japan, 10-year government bond yield; for the Euro Area, a weighted average of national 10-year government bond yields.

Note: The country group composites for fiscal data are calculated as the sum of the U.S. dollar values for the relevant individual countries.

Percent of GDP.

In this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Percent of potential GDP.

Annual data are period averages: for the United States, 10-year Treasury bond yield at constant maturity; for Japan, 10-year government bond yield; for the Euro Area, a weighted average of national 10-year government bond yields.

Table B6.Advanced Economies: General and Central Government Net Lending/Borrowing and Excluding Social Security Schemes1(Percent of GDP)
20042005200620072008200920102011Projections
20122013
General Government Net Lending/Borrowing
Advanced Economies–3.4–2.3–1.4–1.1–3.5–8.8–7.6–6.5–5.6–4.4
United States–4.4–3.2–2.0–2.7–6.7–13.0–10.5–9.6–8.1–6.3
Euro Area–2.9–2.5–1.3–0.7–2.1–6.4–6.2–4.1–3.2–2.7
Germany–3.8–3.4–1.60.2–0.1–3.2–4.3–1.0–0.8–0.6
France2–3.6–3.0–2.4–2.7–3.3–7.6–7.1–5.3–4.6–3.9
Italy–3.5–4.4–3.3–1.5–2.7–5.4–4.5–3.9–2.4–1.5
Spain–0.31.02.01.9–4.2–11.2–9.3–8.5–6.0–5.7
Netherlands–1.8–0.30.50.20.4–5.6–5.1–5.0–4.5–4.9
Belgium–0.4–2.80.1–0.3–1.3–5.9–4.2–4.2–2.9–2.2
Austria3–4.6–1.8–1.7–1.0–1.0–4.1–4.5–2.6–3.1–2.4
Greece–7.4–5.6–6.0–6.7–9.7–15.6–10.6–9.2–7.2–4.6
Portugal–3.4–5.9–4.1–3.2–3.7–10.2–9.8–4.0–4.5–3.0
Finland2.22.74.05.34.2–2.7–2.8–0.8–1.4–0.8
Ireland41.31.72.90.1–7.3–14.2–31.3–9.9–8.5–7.4
Slovak Republic–2.4–2.8–3.2–1.8–2.1–8.0–7.9–5.5–4.2–3.7
Slovenia5–1.3–1.0–0.80.3–0.3–5.6–5.4–5.7–4.6–4.2
Luxembourg–1.10.01.43.73.0–0.9–1.1–0.7–1.6–2.0
Estonia1.61.63.22.8–2.3–2.10.41.0–2.1–0.5
Cyprus–4.2–2.5–1.23.50.9–6.1–5.3–6.5–3.7–1.4
Malta–4.7–2.9–2.8–2.4–4.6–3.7–3.6–3.0–2.7–2.4
Japan–5.9–3.4–3.7–2.1–4.1–10.4–9.4–10.1–10.0–8.7
United Kingdom–3.4–3.3–2.6–2.7–4.9–10.4–9.9–8.7–8.0–6.6
Canada0.91.51.61.60.1–4.9–5.6–4.5–3.7–2.9
Korea60.10.91.12.31.60.01.72.32.42.8
Australia72.12.41.81.3–0.8–4.1–4.8–4.3–2.5–0.6
Taiwan Province of China–3.8–1.8–1.6–1.4–2.2–5.2–4.0–4.3–4.6–3.9
Sweden0.41.92.23.62.2–0.9–0.20.1–0.10.5
Hong Kong SAR–0.31.14.38.20.11.64.53.70.52.0
Switzerland–1.3–0.61.01.41.90.50.20.40.20.2
Singapore86.07.97.112.06.5–0.77.37.35.55.4
Czech Republic–2.8–3.2–2.4–0.7–2.2–5.8–4.8–3.8–3.5–3.4
Norway11.115.018.217.218.810.610.513.114.212.9
Israel–6.0–4.8–2.4–1.3–3.4–6.0–4.6–4.0–3.7–2.7
Denmark1.64.75.44.83.4–2.8–2.7–3.9–5.9–2.5
New Zealand84.34.84.02.90.6–3.0–5.2–6.2–4.0–1.4
Iceland0.04.96.35.4–0.5–8.6–6.4–4.6–2.8–1.8
Memorandum
Major Advanced Economies–4.2–3.1–2.2–2.0–4.5–10.0–8.7–7.7–6.8–5.5
Newly Industrialized Asian Economies–0.50.91.43.11.0–1.11.11.61.01.5
Net Lending/Borrowing Excluding Social Security Schemes
United States–4.0–2.8–1.3–1.8–5.4–10.3–7.6–5.5–3.2–2.6
Japan–6.4–3.7–3.7–2.0–3.6–9.3–8.2–8.6–8.4–7.0
Germany–0.8–0.51.02.82.40.3–3.1–0.8–0.7–0.7
France5.05.86.05.95.42.23.15.76.97.8
Italy93.42.63.65.03.92.83.94.66.87.8
Canada3.74.24.24.43.1–1.6–2.2–1.3–0.30.4
Central Government Net Lending/Borrowing
Advanced Economies–2.9–2.2–1.1–1.1–2.9–7.3–6.6–5.4–4.8–3.7
United States10–3.6–2.8–1.8–2.2–5.6–11.9–10.0–9.0–7.7–5.8
Euro Area–2.5–2.3–1.6–1.1–2.1–5.1–5.2–3.2–2.7–2.2
Germany11–2.3–2.1–1.5–0.8–0.6–1.6–3.2–1.1–0.8–0.5
France–3.1–3.0–2.7–2.1–3.3–6.2–6.3–4.3–3.6–3.1
Italy–3.0–3.9–2.8–2.0–2.6–4.7–4.3–3.9–2.4–1.5
Spain–1.30.20.71.1–2.8–9.4–5.0–2.9–4.1–4.0
Japan12–5.4–4.3–1.7–2.0–2.8–6.5–6.9–7.1–7.1–6.6
United Kingdom–3.1–3.0–2.7–2.6–4.7–10.1–9.8–8.7–8.0–6.7
Canada0.80.10.81.00.2–2.2–2.6–2.0–1.5–1.1
Other Advanced Economies131.02.22.93.62.5–0.60.00.40.61.4
Memorandum
Major Advanced Economies–3.5–2.9–1.8–1.9–3.8–8.4–7.7–6.7–5.9–4.7
Newly Industrialized Asian Economies0.11.11.83.51.5–0.11.82.01.41.9
Note: The country group composites for fiscal data are calculated as the sum of the U.S. dollar values for the relevant individual countries.

On a national income accounts basis except as indicated in footnotes. See Box A1 for a summary of the policy assumptions underlying the projections.

Adjusted for valuation changes of the foreign exchange stabilization fund.

Based on ESA95 methodology, according to which swap income is not included.

Data for 2009 and 2010 reflect the impact of banking support measures. The fiscal balance estimates excluding these measures are—11.7 percent of GDP for 2009 and -11.5 percent of GDP for 2010.

Data cover the central government and social security funds and are on a cash basis. The 2011 fiscal balance includes 0.7 percent of GDP in recapitalization costs of the largest state bank, which were treated as state aid.

Data cover the consolidated central government, including social security funds but excluding privatization.

Data are on a cash basis.

Government net lending/borrowing is revenue minus expenditure plus balance of state-owned enterprises, excluding privatization receipts.

Data exclude total social contributions and payments, not only social security.

Data are on a budget basis.

Data are on an administrative basis and exclude social security transactions.

Data are on a national income basis and exclude social security transactions.

In this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Note: The country group composites for fiscal data are calculated as the sum of the U.S. dollar values for the relevant individual countries.

On a national income accounts basis except as indicated in footnotes. See Box A1 for a summary of the policy assumptions underlying the projections.

Adjusted for valuation changes of the foreign exchange stabilization fund.

Based on ESA95 methodology, according to which swap income is not included.

Data for 2009 and 2010 reflect the impact of banking support measures. The fiscal balance estimates excluding these measures are—11.7 percent of GDP for 2009 and -11.5 percent of GDP for 2010.

Data cover the central government and social security funds and are on a cash basis. The 2011 fiscal balance includes 0.7 percent of GDP in recapitalization costs of the largest state bank, which were treated as state aid.

Data cover the consolidated central government, including social security funds but excluding privatization.

Data are on a cash basis.

Government net lending/borrowing is revenue minus expenditure plus balance of state-owned enterprises, excluding privatization receipts.

Data exclude total social contributions and payments, not only social security.

Data are on a budget basis.

Data are on an administrative basis and exclude social security transactions.

Data are on a national income basis and exclude social security transactions.

In this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Table B7.Advanced Economies: General Government Structural Balances1(Percent of potential GDP)
Projections
2004200520062007200820092010201120122013
Advanced Economies–3.6–2.7–2.1–2.1–3.5–5.8–5.8–5.2–4.2–3.3
United States–4.4–3.5–2.4–2.8–5.0–7.5–7.8–7.2–5.9–4.4
Euro Area2–3.0–2.7–2.4–2.3–2.9–4.4–4.2–3.2–1.8–1.3
Germany2–3.3–2.6–2.3–1.1–0.9–1.2–2.2–1.0–0.6–0.5
France2–3.1–2.8–2.3–3.0–2.9–4.8–4.6–3.4–2.5–1.9
Italy3–5.0–5.1–4.0–3.2–3.5–3.6–3.3–2.9–0.40.6
Spain2–1.0–1.6–1.3–1.1–5.1–9.1–7.3–6.5–3.4–3.1
Netherlands2–0.90.40.1–1.2–1.1–4.6–4.3–4.6–3.1–3.3
Belgium2–0.50.0–0.3–1.1–1.9–4.4–3.5–3.7–2.1–1.3
Austria2–2.0–2.0–2.7–2.7–2.4–3.0–3.6–2.4–2.4–1.9
Greece–8.7–7.9–9.2–10.0–12.3–17.3–10.1–6.8–4.6–2.8
Portugal2–5.3–5.6–4.0–3.8–4.8–8.8–8.3–5.7–2.4–0.9
Finland2.42.83.33.23.11.4–0.10.50.70.8
Ireland2–2.2–3.2–4.5–8.0–11.9–10.8–9.9–8.0–6.2–5.4
Slovak Republic–2.3–1.9–3.1–3.3–3.2–6.6–7.5–5.3–3.7–3.2
Slovenia–0.7–0.8–2.0–2.8–4.2–5.0–4.9–3.4–2.9–2.6
Luxembourg–0.20.41.22.21.80.3–0.8–0.7–1.1–1.7
Estonia
Cyprus–4.8–3.1–3.1–1.6–2.2–6.0–5.3–5.5–2.00.4
Malta–4.0–3.8–3.1–3.6–5.4–3.3–4.4–2.9–2.5–2.0
Japan–5.7–3.2–3.5–2.2–3.6–7.4–7.9–8.1–8.7–7.9
United Kingdom–4.0–3.8–3.5–4.0–6.5–9.0–7.8–6.3–5.1–3.8
Canada0.40.90.80.5–0.6–2.5–4.1–3.6–2.8–2.2
Other Advanced Economies4–0.30.60.61.1–0.1–2.1–1.7–1.5–1.2–0.4
Korea0.21.11.12.31.80.71.72.42.42.8
Australia52.12.51.81.0–1.0–4.1–4.6–4.1–2.5–0.7
Sweden0.51.92.52.51.1–1.21.10.2–0.20.5
Norway6–4.0–3.9–3.5–3.3–3.7–5.8–5.8–5.6–5.9–5.9
Denmark1.51.20.61.82.10.3–0.6–0.6–0.9–0.2
New Zealand72.63.12.62.10.3–2.1–3.7–4.5–3.0–1.4
Memorandum
Major Advanced Economies–4.3–3.3–2.6–2.5–3.9–6.2–6.5–5.9–5.0–4.0
Note: The country group composites for fiscal data are calculated as the sum of the U.S. dollar values for the relevant individual countries.

On a national income accounts basis. The structural balance position is defined as actual net lending/borrowing minus the effects of cyclical output from potential output, corrected for one-time and other factors, such as asset and commodity prices and output composition effects. Because of the margin of uncertainty that attaches to estimates of cyclical gaps and to tax and expenditure elasticities with respect to national income, indicators of structural budget positions should be interpreted as broad orders of magnitude. Moreover, it is important to note that changes in structural balances are not necessarily attributable to policy changes but may reflect the built-in momentum of existing expenditure programs. In the period beyond that for which specific consolidation programs exist, it is assumed that the structural deficit remains unchanged.

Excludes sizable one-time receipts from the sale of assets, including licenses.

Excludes one-time measures based on authorities’ data and, in the absence of the latter, receipts from the sale of assets.

In this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Excludes commonwealth government privatization receipts.

Excludes oil and income on the Government Pension Fund-Global.

Government net lending/borrowing is revenue minus expenditure plus balance of state-owned enterprises, excluding privatization receipts.

Note: The country group composites for fiscal data are calculated as the sum of the U.S. dollar values for the relevant individual countries.

On a national income accounts basis. The structural balance position is defined as actual net lending/borrowing minus the effects of cyclical output from potential output, corrected for one-time and other factors, such as asset and commodity prices and output composition effects. Because of the margin of uncertainty that attaches to estimates of cyclical gaps and to tax and expenditure elasticities with respect to national income, indicators of structural budget positions should be interpreted as broad orders of magnitude. Moreover, it is important to note that changes in structural balances are not necessarily attributable to policy changes but may reflect the built-in momentum of existing expenditure programs. In the period beyond that for which specific consolidation programs exist, it is assumed that the structural deficit remains unchanged.

Excludes sizable one-time receipts from the sale of assets, including licenses.

Excludes one-time measures based on authorities’ data and, in the absence of the latter, receipts from the sale of assets.

In this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Excludes commonwealth government privatization receipts.

Excludes oil and income on the Government Pension Fund-Global.

Government net lending/borrowing is revenue minus expenditure plus balance of state-owned enterprises, excluding privatization receipts.

Table B8.Emerging and Developing Economies: General Government Net Lending/Borrowing and Overall Fiscal Balance(Percent of GDP)
Projections
2004200520062007200820092010201120122013
General Government Net Lending/Borrowing
Emerging and Developing Economies–0.80.81.51.31.0–4.0–2.8–1.1–1.0–1.1
Regional Groups
Central and Eastern Europe–4.1–2.0–1.9–1.9–3.0–6.0–4.9–2.2–2.5–2.3
Commonwealth of Independent States13.66.46.95.54.2–5.1–2.62.00.90.2
Russia4.98.28.36.84.9–6.3–3.51.60.6–0.3
Excluding Russia–0.70.92.61.52.2–1.40.23.21.91.8
Developing Asia–2.6–2.3–1.5–0.6–1.7–4.2–3.4–2.6–2.6–2.3
China–1.5–1.4–0.70.9–0.4–3.1–2.3–1.2–1.3–1.0
India–7.6–6.7–5.5–4.2–7.2–9.8–9.2–8.7–8.3–8.2
Excluding China and India–1.3–0.7–0.3–1.5–1.2–3.5–2.3–2.4–2.5–2.5
Latin America and the Caribbean–1.6–1.4–1.3–1.2–0.9–3.9–3.0–2.6–2.3–2.2
Brazil–2.9–3.5–3.5–2.7–1.4–3.1–2.8–2.6–2.3–2.4
Mexico–1.3–1.4–1.0–1.2–1.1–4.7–4.3–3.4–2.4–2.2
Middle East and North Africa5.712.113.211.313.4–0.62.06.16.95.5
Sub-Saharan Africa0.32.74.71.72.0–5.3–3.8–1.4–0.7–0.5
Excluding Nigeria and South Africa–1.20.86.01.81.5–3.7–1.4–0.20.2–0.3
Analytical Groups
By Source of Export Earnings
Fuel6.511.811.79.310.0–3.00.24.95.03.6
Nonfuel–2.7–2.2–1.5–1.0–1.7–4.3–3.6–2.7–2.6–2.4
Of Which, Primary Products–0.21.25.74.52.6–2.9–0.30.9–0.3–0.1
By External Financing Source
Net Debtor Economies–3.2–2.6–1.8–1.8–2.4–5.1–4.5–3.6–3.5–3.3
Of Which, Official Financing–2.2–2.20.3–1.9–2.5–3.5–2.4–2.5–3.0–2.4
Net Debtor Economies by Debt-Servicing Experience
Economies with Arrears and/or Rescheduling during 2006-10–1.6–1.20.5–1.2–0.5–3.6–2.1–2.5–2.9–2.2
Other Groups
Heavily Indebted Poor Countries–2.2–1.63.2–1.7–1.0–3.2–2.3–2.5–2.9–2.4
Memorandum
Median
Emerging and Developing Economies–1.8–1.6–0.6–1.0–0.9–4.1–3.1–2.6–2.7–2.1
Central and Eastern Europe–3.1–1.0–0.5–1.2–2.8–5.6–4.4–3.5–2.9–2.7
Commonwealth of Independent States10.71.21.72.31.0–5.0–2.5–0.9–0.9–0.8
Developing Asia–1.5–1.5–1.2–1.0–0.5–3.7–2.7–2.3–3.0–2.2
Latin America and the Caribbean–2.2–1.6–1.4–1.1–1.2–3.5–3.0–2.4–2.4–2.1
Middle East and North Africa0.33.02.10.90.7–4.6–1.6–1.9–2.0–1.4
Sub-Saharan Africa–2.3–2.0–0.6–1.0–1.0–4.4–3.8–3.4–3.3–2.7
General Government Overall Fiscal Balance2
Emerging and Developing Economies
Brazil–3.1–3.5–3.4–2.8–2.3–6.2–5.8–3.8–3.2–2.4
Indonesia–0.60.60.2–1.00.0–1.9–1.3–1.6–1.1–1.1
Turkey–4.4–0.8–0.7–2.1–2.9–6.2–3.5–0.7–2.3–2.6
Argentina3–2.9–1.6–0.9–2.1–0.8–3.6–1.6–3.3–3.1–2.2
Thailand0.3–0.20.00.0–0.3–3.5–1.1–2.2–3.3–3.9
Colombia–1.0–0.2–0.8–1.00.0–2.5–3.1–2.1–1.4–1.4
Malaysia–3.7–3.0–2.1–2.6–3.2–5.3–3.7–5.1–4.3–4.8
Nigeria8.113.08.91.66.3–9.4–7.71.12.93.9
Philippines–3.2–1.60.1–0.6–0.1–2.9–2.4–1.1–2.2–1.4
Venezuela2.43.8–1.9–3.1–3.4–8.7–6.3–5.7–6.2–5.5
Vietnam–1.6–3.5–0.5–3.1–1.4–8.6–7.3–3.8–4.8–3.9
Peru–1.0–0.41.93.22.2–2.1–0.31.91.11.0
Chile2.04.57.57.94.1–4.1–0.31.2–0.3–0.2
Note: The country group composites for fiscal data are calculated as the sum of the U.S. dollar values for the relevant individual countries.

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Net lending/borrowing including policy lending, where policy lending represents the value of transactions in financial assets that are deemed to be for public policy purposes.

Calculations are based on Argentina’s official GDP data. See footnote to Table A4.

Note: The country group composites for fiscal data are calculated as the sum of the U.S. dollar values for the relevant individual countries.

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Net lending/borrowing including policy lending, where policy lending represents the value of transactions in financial assets that are deemed to be for public policy purposes.

Calculations are based on Argentina’s official GDP data. See footnote to Table A4.

Table B9.Emerging and Developing Economies: General Government Net Lending/Borrowing(Percent of GDP)
Projections
2004200520062007200820092010201120122013
Central and Eastern Europe–4.1–2.0–1.9–1.9–3.0–6.0–4.9–2.2–2.5–2.3
Albania–5.0–3.5–3.3–3.3–5.1–7.4–4.2–3.5–3.7–3.6
Bosnia and Herzegovina0.10.82.20.2–3.9–5.7–4.5–3.1–3.8–2.4
Bulgaria1.62.33.33.32.9–0.9–3.9–2.1–1.9–1.6
Croatia–3.4–2.8–2.6–2.1–1.3–4.1–4.9–5.5–4.7–4.7
Hungary–6.4–7.8–9.4–5.1–3.7–4.5–4.34.0–3.0–3.4
Kosovo–4.6–3.12.77.2–0.2–0.6–2.6–1.9–2.7–3.3
Latvia–1.2–1.3–0.50.6–7.5–7.8–7.2–3.4–1.2–0.5
Lithuania–1.5–0.5–0.4–1.0–3.3–9.2–7.1–5.2–2.9–2.6
Former Yugoslav Republic of Macedonia0.40.2–0.50.6–0.9–2.7–2.5–2.6–2.6–2.5
Montenegro–2.9–1.62.96.7–0.4–5.7–4.9–6.5–5.0–4.6
Poland–5.4–4.1–3.6–1.9–3.7–7.3–7.8–5.2–3.2–2.8
Romania–3.4–0.7–1.4–3.1–4.8–7.3–6.4–4.1–1.9–1.0
Serbia0.11.1–1.0–1.4–2.0–3.7–3.6–4.0–4.1–4.0
Turkey–3.9–0.30.0–1.7–2.4–5.6–2.7–0.3–1.7–2.0
Commonwealth of Independent States13.66.46.95.54.2–5.1–2.62.00.90.2
Russia4.98.28.36.84.9–6.3–3.51.60.6–0.3
Excluding Russia–0.70.92.61.52.2–1.40.23.21.91.8
Armenia–2.1–2.0–2.3–1.8–7.7–4.9–2.7–3.1–2.3
Azerbaijan1.02.41.12.320.06.814.313.310.97.0
Belarus0.60.21.72.33.4–0.4–1.83.30.1–0.1
Georgia3.72.23.40.8–2.0–6.5–4.8–0.9–2.0–2.1
Kazakhstan2.66.07.75.21.2–1.31.55.84.44.4
Kyrgyz Republic–4.9–3.8–2.7–0.71.0–1.3–5.8–4.8–6.1–5.8
Moldova0.71.50.0–0.2–1.0–6.3–2.5–2.4–0.9–0.8
Mongolia–1.72.47.62.6–4.5–5.01.2–3.6–7.3–0.9
Tajikistan–2.4–2.91.7–5.5–5.1–5.2–3.0–2.1–3.3–1.3
Turkmenistan1.40.85.33.910.07.62.33.54.13.9
Ukraine–4.4–2.3–1.4–2.0–3.2–6.3–5.7–2.7–2.8–2.0
Uzbekistan0.61.25.45.210.22.83.37.53.83.1
Developing Asia–2.6–2.3–1.5–0.6–1.7–4.2–3.4–2.6–2.6–2.3
Islamic Republic of Afghanistan–1.41.0–3.1–2.0–4.1–1.60.90.1–1.5–1.7
Bangladesh–3.0–3.3–3.0–2.6–4.6–3.7–3.1–4.1–3.9–3.6
Bhutan1.8–7.2–1.20.60.42.38.4–4.8–6.4–3.8
Brunei Darussalam9.518.022.13.440.03.88.531.934.932.8
Cambodia–3.6–0.4–0.2–0.70.3–4.2–2.8–2.6–3.0–1.9
China–1.5–1.4–0.70.9–0.4–3.1–2.3–1.2–1.3–1.0
Republic of Fiji–3.0–3.3–3.5–1.70.3–4.3–1.6–2.0–1.6–1.7
India–7.6–6.7–5.5–4.2–7.2–9.8–9.2–8.7–8.3–8.2
Indonesia–0.60.60.2–1.00.0–1.8–1.2–1.6–1.0–1.0
Kiribati–23.3–15.4–15.9–16.4–20.1–13.4–13.6–22.0–24.0–19.5
Lao People’s Democratic Republic–3.2–3.6–3.1–2.6–3.8–6.5–4.4–2.3–1.6–2.0
Malaysia–3.7–3.0–2.1–2.6–3.2–5.3–3.7–5.1–4.3–4.8
Maldives–2.6–9.2–5.5–3.8–11.9–21.6–16.8–11.7–16.6–18.4
Myanmar–2.0–1.5–2.3–2.0–0.6–3.1–4.5–4.2–3.4–1.7
Nepal–0.20.30.1–1.0–0.5–2.6–1.0–1.7–2.6–2.8
Pakistan–1.7–3.0–3.7–5.5–7.3–5.2–5.9–6.4–6.7–6.0
Papua New Guinea1.62.76.59.02.5–9.62.90.8–2.4–2.0
Philippines–2.9–1.70.0–0.30.0–2.7–2.2–0.8–1.9–1.3
Samoa–0.90.3–0.50.6–1.8–4.1–10.0–6.5–5.4–4.8
Solomon Islands5.4–1.9–1.31.7–0.21.86.33.61.30.2
Sri Lanka–7.5–7.0–7.0–6.9–7.0–9.9–8.0–6.9–6.2–5.7
Thailand1.21.52.20.20.1–3.2–0.8–1.9–3.1–3.7
Timor-Leste19.037.952.461.861.248.750.450.237.931.1
Tonga
Tuvalu
Vanuatu0.81.90.50.3–0.2–0.7–2.7–0.8–2.2–2.2
Vietnam–0.2–1.30.3–2.2–0.5–7.2–5.2–2.7–3.6–2.8
Latin America and the Caribbean–1.6–1.4–1.3–1.2–0.9–3.9–3.0–2.6–2.3–2.2
Antigua and Barbuda–4.6–5.3–8.0–5.7–5.4–18.0–0.4–1.7–5.30.4
Argentina2–2.9–1.6–0.9–2.1–0.8–3.6–1.6–3.3–3.1–2.2
The Bahamas–2.4–2.4–1.4–2.4–1.8–4.5–4.4–4.7–5.0–4.4
Barbados1.0–5.1–3.6–7.8–6.5–7.1–7.3–4.3–3.2–2.1
Belize–8.8–3.5–3.9–0.70.4–1.2–1.5–1.6–2.5–2.4
Bolivia–5.5–2.24.52.64.30.61.70.80.80.3
Brazil–2.9–3.5–3.5–2.7–1.4–3.1–2.8–2.6–2.3–2.4
Chile2.04.57.57.94.1–4.1–0.31.2–0.3–0.2
Colombia–1.0–0.2–0.8–1.00.0–2.5–3.1–2.1–1.4–1.4
Costa Rica–3.4–2.8–1.40.3–0.3–3.6–5.4–4.3–4.3–3.7
Dominica–0.71.02.91.80.7–0.3–3.5–2.2–2.6–1.6
Dominican Republic–3.1–0.8–1.30.1–3.0–3.5–2.5–2.5–2.3–2.3
Ecuador2.20.73.62.10.6–4.3–1.6–1.0–1.0–0.6
El Salvador–2.7–3.0–2.5–1.3–2.7–5.6–4.5–4.2–2.6–1.9
Grenada–2.00.4–4.9–6.3–4.1–5.2–3.1–4.6–5.6–5.7
Guatemala–1.1–1.7–1.9–1.4–1.6–3.1–3.3–2.8–2.4–2.1
Guyana–3.8–8.5–8.0–4.3–3.6–3.5–2.7–1.8–2.1–2.1
Haiti–1.0–2.7–1.70.2–2.8–4.62.4–3.7–7.7–5.8
Honduras–2.4–1.4–1.9–1.6–1.7–4.7–2.9–2.8–2.4–2.0
Jamaica–4.7–3.3–4.9–3.8–7.4–11.0–6.4–6.5–8.3–8.5
Mexico–1.3–1.4–1.0–1.2–1.1–4.7–4.3–3.4–2.4–2.2
Nicaragua–1.5–1.00.71.2–0.8–1.9–0.50.5–0.9–0.6
Panama–4.0–2.20.52.70.5–0.9–1.3–2.4–2.3–1.2
Paraguay1.80.91.01.53.00.51.41.2–2.0–1.6
Peru–1.0–0.41.93.22.2–2.1–0.31.91.11.0
St. Kitts and Nevis–6.3–3.3–3.9–3.5–3.9–2.9–7.82.0–3.0–1.7
St. Lucia–3.3–7.4–6.2–2.0–0.9–3.2–4.8–7.5–7.4–5.1
St Vincent and the Grenadines–2.8–4.4–3.1–3.1–1.4–3.2–5.8–3.9–2.2–1.6
Suriname–1.4–1.31.52.61.8–3.0–3.6–0.1–0.6–1.7
Trinidad and Tobago1.84.06.13.68.0–8.9–3.80.3–2.9–3.0
Uruguay–1.8–0.4–0.50.0–1.6–1.8–1.1–0.8–1.1–1.0
Venezuela2.54.1–1.6–2.8–2.6–8.1–5.9–5.3–5.9–5.1
Middle East and North Africa5.712.113.211.313.4–0.62.06.16.95.5
Algeria5.313.613.96.29.0–5.1–1.0–3.6–2.9–1.2
Bahrain0.33.52.71.94.9–6.6–6.7–2.3–1.0–1.7
Djibouti–1.90.3–2.4–2.61.3–4.6–0.5–0.70.50.9
Egypt–8.3–8.4–9.2–7.5–7.8–6.8–7.8–9.9–10.0–7.8
Islamic Republic of Iran3.83.02.17.40.71.01.60.2–0.3–1.0
Iraq6.515.512.4–1.3–22.1–9.17.40.26.8
Jordan–1.1–5.6–4.0–4.7–4.3–8.5–5.6–6.2–5.2–4.9
Kuwait22.243.335.439.119.827.224.231.034.531.8
Lebanon–9.5–8.4–10.4–10.8–9.5–8.3–7.7–5.6–8.1–8.0
Libya39.434.634.237.130.512.86.2
Mauritania–1.6–6.5–5.1–1.9–1.5–3.6–2.3
Morocco–3.8–6.2–2.6–0.10.7–1.8–4.4–6.9–5.4–5.0
Oman6.212.914.112.116.9–0.35.69.812.99.6
Qatar14.98.47.99.810.414.32.77.88.98.1
Saudi Arabia12.421.924.615.834.4–4.66.615.216.610.1
Sudan40.2–2.5–4.4–5.5–1.6–4.8–3.4–2.9–3.9–3.4
Syrian Arab Republic3–4.2–4.4–1.1–3.0–2.9–2.9–4.8
Tunisia–2.2–2.8–2.6–2.0–0.6–1.5–1.3–3.5–5.6–4.6
United Arab Emirates5.816.020.118.421.5–0.14.411.012.311.5
Republic of Yemen–2.2–1.81.2–7.2–4.5–10.2–4.0–4.4–5.0–5.6
Sub-Saharan Africa0.32.74.71.72.0–5.3–3.8–1.4–0.7–0.5
Angola1.49.411.811.38.9–4.96.812.612.28.3
Benin–1.1–2.3–0.20.3–0.1–3.3–0.4–1.4–0.7–0.9
Botswana0.48.19.72.9–8.9–13.0–7.2–4.20.60.5
Burkina Faso–4.7–5.515.5–6.6–4.3–5.3–5.8–2.5–4.7–2.8
Burundi–3.6–3.6–1.0–2.6–2.7–5.0–3.7–4.0–2.4–5.1
Cameroon–0.73.233.14.52.3–0.1–1.1–1.9–3.6–2.5
Cape Verde–4.1–6.7–5.7–1.1–1.4–6.3–10.6–8.9–8.8–7.4
Central African Republic–2.1–4.59.01.2–1.0–0.1–1.4–2.40.50.5
Chad–1.31.37.73.14.5–9.9–5.23.26.64.9
Comoros–1.70.1–2.6–2.0–2.50.67.01.2–0.1–0.6
Democratic Republic of Congo–3.2–4.3–3.6–3.8–3.8–5.11.5–6.4–5.2–4.2
Republic of Congo3.614.616.69.423.44.816.115.915.312.5
Cote d’Ivoire–1.7–1.7–1.8–0.8–0.6–1.6–2.3–5.7–4.4–3.2
Equatorial Guinea12.320.623.519.315.4–8.0–5.1–3.0–2.5–1.0
Eritrea–16.6–22.2–14.1–15.7–21.1–14.7–16.1–16.2–13.4–12.4
Ethiopia–2.7–4.2–3.8–3.6–2.9–0.9–1.3–1.6–3.0–2.3
Gabon7.68.79.28.711.77.53.02.15.13.9
The Gambia–4.1–5.8–5.10.4–1.4–2.6–5.4–4.4–5.3–2.5
Ghana–3.0–2.8–4.7–5.6–8.5–5.8–7.2–4.3–4.9–4.0
Guinea–5.4–1.6–3.10.3–1.3–7.1–14.0–2.9–6.7–3.4
Guinea-Bissau–7.8–6.2–4.8–5.0–0.82.9–0.2–1.9–1.0–1.2
Kenya–0.1–1.8–2.5–3.1–4.2–5.2–5.1–4.1–4.0–3.7
Lesotho7.54.413.910.78.6–3.9–5.0–10.50.20.7
Liberia0.00.06.03.9–13.2–13.7–8.5–3.4–3.9–3.0
Madagascar–5.0–3.0–0.5–2.7–1.1–3.1–0.4–1.6–2.6–3.3
Malawi–6.5–3.20.3–4.3–5.1–5.01.5–7.9–2.5–1.7
Mali–1.8–2.332.2–2.00.4–1.20.1–1.3–1.9–0.6
Mauritius–4.6–4.7–4.4–3.3–2.8–3.6–3.2–3.4–2.8–2.6
Mozambique–4.4–2.8–4.1–2.9–2.5–5.5–4.0–4.9–6.3–6.0
Namibia–3.6–1.02.04.22.6–1.1–4.8–7.9–5.4–4.4
Niger–3.5–2.040.3–1.01.5–5.5–2.6–2.3–3.6–4.8
Nigeria8.113.08.91.66.3–9.4–7.71.12.93.9
Rwanda0.90.90.2–1.71.00.30.4–1.9–2.9–0.1
São Tomé and Príncipe–16.130.9–12.7125.414.2–18.4–11.0–10.7–3.9–5.6
Senegal–2.3–2.8–5.4–3.8–4.7–4.9–5.2–6.1–5.8–4.4
Seychelles–2.2–0.3–6.0–9.55.52.8–0.82.61.92.4
Sierra Leone–3.2–1.9–2.226.6–4.7–3.2–6.9–5.7–3.8–2.7
South Africa–1.20.00.81.5–0.5–5.3–4.8–4.6–4.3–3.7
Swaziland–4.7–2.010.14.8–0.3–6.4–13.8–6.82.7–7.0
Tanzania–2.9–3.0–4.9–4.00.0–4.8–7.0–6.0–6.4–6.7
Togo1.0–2.4–2.8–1.9–0.9–2.8–1.6–3.4–6.6–5.8
Uganda–0.9–0.2–0.6–1.0–2.8–2.4–4.7–7.2–4.0–3.6
Zambia–2.9–2.820.2–1.3–0.9–2.5–3.1–3.4–3.1–1.3
Zimbabwe–8.5–3.2–3.8–2.7–2.9–0.3–2.1–4.4–3.5

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Calculations are based on Argentina’s official GDP data. See footnote to Table A4.

Data for Libya and Syrian Arab Republic are excluded for 2011 onward due to the uncertain political situation.

Data for 2011 exclude South Sudan after July 9. Data for 2012 and onward pertain to the current Sudan.

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Calculations are based on Argentina’s official GDP data. See footnote to Table A4.

Data for Libya and Syrian Arab Republic are excluded for 2011 onward due to the uncertain political situation.

Data for 2011 exclude South Sudan after July 9. Data for 2012 and onward pertain to the current Sudan.

Table B10.Advanced Economies: Exchange Rates
20042005200620072008200920102011Exchange Rate Assumption

2012
U.S. Dollars per National Currency Unit
U.S. Dollar Nominal Exchange Rates
Euro1.2431.2461.2561.3711.4721.3931.3271.3911.315
Pound Sterling1.8321.8201.8432.0021.8531.5641.5461.6041.576
National Currency Units per U.S. Dollar
Japanese Yen108.2110.2116.3117.8103.493.687.879.879.7
Canadian Dollar1.3011.2121.1341.0741.0671.1431.0300.9900.999
Swedish Krona7.3497.4737.3786.7596.5917.6547.2086.4946.721
Danish Krone5.9915.9975.9475.4445.0985.3615.6245.3695.690
Swiss Franc1.2431.2451.2541.2001.0831.0881.0430.8880.919
Norwegian Krone6.7416.4436.4145.8615.6396.2886.0445.6055.739
Israeli New Sheqel4.4824.4884.4564.1083.5883.9323.7393.5783.668
Icelandic Krona70.1962.9870.1864.0687.95123.64122.24116.04127.02
Korean Won1,145.31,024.1954.8929.31,102.01,276.91,156.11,108.31.129.6
Australian Dollar1.3581.3091.3271.1931.1691.2641.0880.9690.946
New Taiwan Dollar33.4332.1832.5332.8431.5333.0631.6529.4729.49
Hong Kong Dollar7.7887.7777.7687.8017.7877.7527.7697.7847.755
Singapore Dollar1.6901.6641.5891.5071.4151.4551.3641.2581.268
Index; 2005 = 100Percent Change from Previous Assumption2
Real Effective Exchange Rates1
United States102.7100.099.893.190.997.392.886.3–1.6
Euro Area3100.9100.099.7104.1109.9110.7103.4102.41.5
Germany103.4100.096.697.4101.3102.199.898.20.9
France100.1100.0101.9105.1106.8107.9103.5104.50.7
Italy97.3100.0101.6106.0111.6111.6107.9107.60.7
Spain96.5100.0103.1108.7113.5110.3109.0109.00.6
Netherlands101.8100.099.599.9103.7101.399.098.90.7
Belgium99.6100.0102.8104.1104.8104.1100.5103.00.7
Austria99.6100.098.297.695.996.597.099.30.5
Greece104.3100.0103.1105.4103.8103.7102.3103.40.6
Portugal97.6100.0101.5100.9102.299.999.799.10.4
Finland100.0100.095.191.392.793.790.288.60.7
Ireland93.2100.0100.398.4102.191.484.686.11.2
Slovak Republic100.0100.0103.4108.0112.2106.196.997.80.3
Slovenia98.2100.0101.3104.5108.5112.2113.2116.10.3
Luxembourg99.6100.0102.9103.4104.0103.8100.4102.40.5
Estonia100.1100.0100.3101.1102.5103.6101.5101.00.4
Cyprus100.8100.099.699.9105.4108.2103.8103.50.7
Malta101.5100.099.9102.6106.8108.2103.7103.30.8
Japan108.9100.091.183.693.7110.5118.2126.2–4.6
United Kingdom100.2100.0102.7106.093.286.692.290.8–0.3
Canada91.7100.0109.3116.4113.7104.8113.0117.91.1
Korea85.4100.0106.5106.082.366.470.569.91.3
Australia92.8100.0104.0115.4114.0104.4126.2137.62.0
Taiwan Province of China97.3100.094.887.086.273.572.172.01.3
Sweden105.6100.094.999.199.094.193.594.80.8
Hong Kong SAR103.8100.097.693.590.191.390.486.7–0.7
Switzerland98.5100.099.397.9103.3108.0115.6133.01.0
Singapore98.1100.0106.3111.5119.8116.7128.1135.81.1
Czech Republic99.0100.099.5101.5111.3100.0101.7106.32.4
Norway93.8100.0108.0115.4118.2111.0118.4122.93.0
Israel97.5100.0101.9106.6118.3109.4118.7121.10.1
Denmark98.1100.0100.4104.7108.4108.4103.4106.50.5
New Zealand91.0100.095.5103.295.887.596.7101.13.0
Iceland86.0100.096.5104.578.852.859.361.7–1.9

Defined as the ratio, in common currency, of the unit labor costs in the manufacturing sector to the weighted average of those of its industrial country trading partners, using 2004–06 trade weights.

In nominal effective terms. Average January 2–30, 2012, compared with February 13–March 12, 2012, rates.

A synthetic euro for the period prior to January 1,1999, is used in the calculation of real effective exchange rates for the euro. See Box 5.5 in the October 1998 World Economic Outlook.

Defined as the ratio, in common currency, of the unit labor costs in the manufacturing sector to the weighted average of those of its industrial country trading partners, using 2004–06 trade weights.

In nominal effective terms. Average January 2–30, 2012, compared with February 13–March 12, 2012, rates.

A synthetic euro for the period prior to January 1,1999, is used in the calculation of real effective exchange rates for the euro. See Box 5.5 in the October 1998 World Economic Outlook.

Table B11.Emerging and Developing Economies: Broad Money Aggregates(Annual percent change)
Projections
2004200520062007200820092010201120122013
Emerging and Developing Economies16.919.221.420.818.116.316.416.815.913.2
Regional Groups
Central and Eastern Europe17.523.320.616.218.514.88.03.220.610.5
Commonwealth of Independent States135.837.242.542.217.415.624.623.022.316.8
Russia33.736.340.541.213.517.324.621.123.416.2
Excluding Russia41.939.848.945.330.710.224.829.119.118.5
Developing Asia13.815.617.218.017.022.617.918.014.212.5
China14.916.317.016.717.828.418.917.313.311.4
India13.117.319.523.319.918.018.726.920.319.1
Excluding China and India12.012.916.016.913.112.214.513.412.511.2
Latin America and the Caribbean16.618.519.716.317.69.817.319.016.914.4
Brazil16.619.218.618.418.015.815.418.715.314.2
Mexico12.114.813.011.216.86.112.012.711.910.0
Middle East and North Africa17.519.722.225.018.213.311.314.012.811.5
Sub-Saharan Africa16.316.728.526.428.712.413.016.414.014.4
Analytical Groups
By Source of Export Earnings
Fuel26.328.236.932.620.814.618.620.119.615.6
Nonfuel14.917.217.817.817.416.815.815.914.912.5
Of Which, Primary Products18.718.018.921.620.28.019.114.612.712.3
By External Financing Source
Net Debtor Economies16.118.519.218.417.912.614.615.316.413.6
Of Which, Official Financing18.616.420.817.920.516.921.423.119.716.4
Net Debtor Economies by Debt-Servicing Experience
Economies with Arrears and/or Rescheduling during 2006–1024.318.323.219.715.017.428.728.623.218.5
Other Groups
Heavily Indebted Poor Countries16.516.823.219.819.517.522.119.619.517.2
Memorandum
Median
Emerging and Developing Economies16.116.118.618.815.710.913.712.412.010.7
Central and Eastern Europe22.021.022.416.88.35.28.57.15.56.0
Commonwealth of Independent States137.730.239.346.915.917.324.623.622.018.2
Developing Asia16.115.017.819.310.718.015.414.913.710.9
Latin America and the Caribbean15.313.615.914.313.56.410.49.610.49.9
Middle East and North Africa13.414.318.419.116.311.911.910.010.59.4
Sub-Saharan Africa14.115.818.419.722.316.018.313.112.411.5

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Table B12.Advanced Economies: Export Volumes, Import Volumes, and Terms of Trade in Goods and Services(Annual percent change)
AveragesProjections
1994–20032004–132004200520062007200820092010201120122013
Export Volume
Advanced Economies6.24.49.36.28.96.81.9–11.512.25.32.34.7
United States4.75.79.56.89.09.36.1–9.411.36.74.14.9
Euro Area16.63.67.75.39.16.70.7–13.011.16.31.43.2
Germany7.25.310.77.713.18.02.7–13.613.78.31.83.8
France6.01.84.23.15.52.3–0.6–12.29.35.01.22.1
Italy3.92.06.33.48.46.2–2.8–17.511.65.61.01.3
Spain8.53.64.22.56.76.7–1.0–10.413.59.02.14.1
Japan4.44.514.06.29.98.71.4–24.224.20.05.27.1
United Kingdom5.93.15.17.711.7–1.31.3–9.57.44.61.44.4
Canada5.90.85.01.90.61.2–4.7–13.86.44.44.04.2
Other Advanced Economies27.75.912.87.89.28.13.3–6.613.34.71.96.3
Memorandum
Major Advanced Economies5.34.18.65.99.26.01.8–13.612.55.52.94.3
Newly Industrialized Asian
Economies9.27.717.19.410.89.94.2–6.618.15.53.07.8
Import Volume
Advanced Economies6.93.79.36.37.85.20.5–12.211.54.31.84.1
United States8.23.211.16.16.12.4–2.7–13.612.54.93.04.2
Euro Area16.63.07.15.88.76.30.5–11.99.33.8–0.52.2
Germany6.24.98.26.211.85.43.3–9.211.77.42.43.1
France6.32.35.05.85.55.50.6–10.68.34.8–1.31.0
Italy5.31.04.83.57.95.2–3.0–13.412.70.4–4.5–1.1
Spain9.81.79.67.710.28.0–5.2–17.28.9–0.1–4.12.9
Japan6.03.27.94.24.52.30.3–15.711.15.98.55.9
United Kingdom6.92.26.77.410.2–0.9–1.2–12.28.61.21.52.6
Canada5.44.18.07.14.95.91.5–13.413.16.54.74.7
Other Advanced Economies27.05.813.27.78.88.73.7–10.215.14.52.36.8
Memorandum
Major Advanced Economies6.83.28.45.97.43.3–0.5–12.511.44.92.53.4
Newly Industrialized Asian
Economies7.56.415.97.79.48.53.6–9.918.73.22.07.6
Terms of Trade
Advanced Economies0.2–0.6–0.4–1.5–1.10.3–2.02.3–1.0–1.7–0.90.1
United States0.3–0.9–1.3–2.5–0.7–0.2–5.35.9–1.6–1.4–2.10.1
Euro Area10.1–0.8–0.8–1.3–1.50.5–1.42.7–2.1–2.5–1.3–0.1
Germany0.2–0.50.1–1.7–1.60.6–1.63.9–1.7–2.70.0–0.4
France–0.1–1.0–0.9–1.3–1.51.3–0.71.9–2.2–1.7–5.10.3
Italy0.0–1.2–0.8–2.8–3.20.9–1.75.3–3.7–3.3–2.1–0.5
Spain0.8–0.5–0.80.50.30.8–1.64.5–4.2–3.5–1.20.6
Japan0.3–2.6–4.1–6.8–6.7–4.0–9.612.9–5.5–7.35.32.4
United Kingdom0.4–0.3–0.1–2.30.6–0.2–0.5–0.5–0.6–0.81.50.0
Canada0.61.94.53.61.03.15.1–9.35.84.31.50.2
Other Advanced Economies2–0.1–0.3–0.20.0–0.10.1–0.6–0.91.4–0.6–1.7–0.1
Memorandum
Major Advanced Economies0.3–0.7–0.3–2.4–1.70.4–2.73.9–1.9–2.0–0.70.2
Newly Industrialized Asian
Economies–0.8–1.6–2.4–2.1–1.7–0.3–4.50.8–0.6–3.2–1.5–0.3
Memorandum
Trade in Goods
Advanced Economies
Export Volume6.44.29.05.88.85.81.5–13.314.05.72.34.8
Import Volume7.23.79.76.68.14.7–0.1–13.113.35.11.34.2
Terms of Trade0.1–0.6–0.7–1.6–1.30.4–2.53.6–1.1–1.5–1.0–0.1

Calculated as the average of individual Euro Area countries.

ln this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Calculated as the average of individual Euro Area countries.

ln this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Table B13.Emerging and Developing Economies by Region: Total Trade in Goods(Annual percent change)
AveragesProjections
1994–20032004–132004200520062007200820092010201120122013
Emerging and Developing Economies
Value in U.S. Dollars
Exports10.514.928.926.521.919.322.8–23.327.623.37.85.8
Imports8.715.228.420.018.923.324.1–20.026.821.39.68.5
Volume
Exports8.67.212.411.910.89.54.3–8.415.06.45.96.5
Imports7.19.216.111.911.214.38.3–9.316.09.48.17.9
Unit Value in U.S. Dollars
Exports2.17.314.912.810.69.117.6–15.811.516.21.6–0.8
Imports1.55.610.76.77.47.914.4–11.59.511.31.30.6
Terms of Trade0.61.63.95.72.91.12.8–4.81.84.30.4–1.4
Regional Groups
Central and Eastern Europe
Value in U.S. Dollars
Exports14.212.531.416.220.224.521.0–22.516.119.73.06.2
Imports12.712.131.616.322.127.321.6–31.119.322.41.95.5
Volume
Exports10.97.114.99.613.710.86.0–8.011.45.23.85.8
Imports9.46.916.011.011.614.83.9–15.212.68.54.05.2
Unit Value in U.S. Dollars
Exports3.05.014.75.75.912.613.6–15.33.913.5–0.90.5
Imports2.95.113.85.110.311.116.8–17.95.712.6–2.00.5
Terms of Trade0.2–0.10.80.6–4.01.4–2.83.1–1.70.71.20.0
Commonwealth of Independent States1
Value in U.S. Dollars
Exports8.516.136.528.925.220.835.1–35.330.333.57.52.2
Imports5.317.429.423.729.135.831.7–33.125.231.410.910.3
Volume
Exports5.64.313.44.47.86.80.8–13.09.48.73.33.5
Imports5.311.220.114.820.922.912.1–27.618.618.911.710.2
Unit Value in U.S. Dollars
Exports3.111.620.523.216.213.234.5–24.819.423.14.2–1.3
Imports0.45.77.87.66.910.617.6–7.25.910.6–0.70.1
Terms of Trade2.75.511.814.58.72.314.4–19.012.711.34.9–1.4
Developing Asia
Value in U.S. Dollars
Exports12.915.827.723.723.021.417.8–15.930.519.98.010.0
Imports10.716.831.319.517.619.022.2–14.735.322.711.811.0
Volume
Exports12.410.514.117.716.513.96.1–8.323.48.27.49.4
Imports9.310.518.612.410.311.46.4–1.819.69.610.010.2
Unit Value in U.S. Dollars
Exports0.75.012.05.36.16.811.1–7.96.010.90.60.5
Imports1.55.810.86.37.06.814.8–12.713.212.11.70.7
Terms ot Trade–0.8–0.71.1–0.9–0.80.0–3.25.5–6.3–1.1–1.1–0.2
Excluding China and India
Value in U.S. Dollars
Exports8.411.817.815.216.713.015.3–15.727.619.27.57.4
Imports6.112.923.116.112.414.520.5–20.231.321.510.58.2
Volume
Exports7.75.58.68.96.14.01.7–7.314.44.47.77.8
Imports4.97.415.49.93.87.08.3–13.419.39.39.78.2
Unit Value in U.S. Dollars
Exports1.06.28.86.010.58.713.5–8.411.914.3–0.2–0.4
Imports1.55.37.05.78.67.011.4–7.610.011.50.8–0.1
Terms of Trade–0.40.91.70.21.81.61.9–0.91.72.5–1.0–0.3
Latin America and the Caribbean
Value in U.S. Dollars
Exports9.012.023.320.719.612.415.9–22.326.623.75.14.3
Imports7.313.021.418.119.019.421.5–24.829.822.08.85.5
Volume
Exports7.23.98.67.25.83.6–0.2–8.28.94.34.55.8
Imports6.37.713.310.012.111.87.5–17.923.011.45.15.9
Unit Value in U.S. Dollars
Exports1.87.813.412.713.38.516.1–15.316.818.70.6–1.4
Imports0.75.07.17.66.36.812.8–8.15.79.93.7–0.4
Terms ot Trade1.12.75.94.86.61.63.0–7.810.58.0–3.0–1.0
Middle East and North Africa
Value in U.S. Dollars
Exports8.316.232.644.421.317.432.8–30.725.626.911.90.4
Imports4.814.627.627.515.031.631.1–11.18.68.89.65.2
Volume
Exports3.95.211.510.45.26.56.5–7.07.83.85.92.8
Imports2.47.813.812.97.620.816.3–3.01.31.66.42.6
Unit Value in U.S. Dollars
Exports4.69.919.426.515.410.223.9–25.016.123.34.6–3.5
Imports2.55.712.27.48.18.911.5–9.37.79.51.51.9
Terms of Trade2.04.06.417.86.81.211.1–17.27.912.63.1–5.3
Sub-Sahara Africa
Value in U.S. Dollars
Exports6.614.328.427.219.819.324.6–27.228.624.18.73.3
Imports6.813.721.818.816.321.624.4–14.522.419.87.35.7
Volume
Exports4.48.46.64.18.62.0–5.24.83.76.75.2
Imports6.57.96.810.18.816.012.5–4.610.38.17.15.2
Unit Value in U.S. Dollars
Exports..10.019.720.215.79.922.8–22.222.920.81.8–1.9
Imports1.05.814.18.77.45.611.1–9.610.712.00.30.5
Terms of Trade3.95.010.67.74.110.6–13.911.07.91.5–2.4

Georja and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Georja and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Table B14.Emerging and Developing Economies by Source of Export Earnings: Total Trade in Goods(Annual percent change)
AveragesProjections
1994–20032004–132004200520062007200820092010201120122013
Fuel
Value in U.S. Dollars
Exports8.616.534.942.723.217.334.1–33.627.830.711.20.1
Imports5.116.326.629.120.133.629.5–18.014.818.111.87.2
Volume
Exports4.44.411.49.05.35.33.9–8.17.04.44.82.5
Imports3.89.715.215.413.123.014.0–12.48.39.09.35.8
Unit Value in U.S. Dollars
Exports4.511.321.628.617.111.328.9–27.219.625.15.5–3.1
Imports1.55.610.28.17.38.612.8–7.26.98.71.61.1
Terms of Trade2.95.410.319.09.12.514.3–21.511.815.13.9–4.1
Nonfuel
Value in U.S. Dollars
Exports11.314.326.820.521.420.217.8–18.227.520.36.48.5
Imports9.614.928.718.218.721.122.9–20.529.922.09.18.8
Volume
Exports10.18.412.712.913.111.44.6–8.518.27.26.48.3
Imports8.09.116.311.210.812.47.0–8.517.99.67.88.3
Unit Value in U.S. Dollars
Exports1.35.712.66.97.88.112.7–10.28.312.60.00.2
Imports1.55.610.76.47.57.814.8–12.610.211.91.20.5
Terms of Trade–0.20.11.70.40.30.3–1.82.7–1.70.6–1.2–0.2
Primary Products
Value in U.S. Dollars
Exports6.116.841.624.738.019.16.1–14.631.921.65.16.6
Imports4.516.724.327.117.126.435.0–23.332.728.68.44.8
Volume
Exports5.313.06.03.67.42.1–3.54.07.37.36.6
Imports10.413.913.99.818.116.1–12.622.714.27.44.9
Unit Value in U.S. Dollars
Exports11.327.318.734.410.84.4–11.226.513.5–2.3–0.1
Imports5.99.812.66.98.016.8–13.37.513.41.2–0.2
Terms ot Trade5.115.95.425.82.6–10.62.417.60.1–3.40.1
Table B15.Advanced Economies: Current Account Transactions(Billions of U.S. dollars)
Projections
2004200520062007200820092010201120122013
Exports6,368.36,950.37,847.08,924.19,871.97,731.89,133.210,616.210,710.811,209.0
Imports–6,680.9–7,472.8–8,498.2–9,540.0–10,664.4–8,091.0–9,605.7–11,290.0–11,403.4–11,871.5
Trade Balance–312.6–522.6–651.2–615.9–792.5–359.2–472.5–673.8–692.6–662.4
Services, Credits1,840.62,019.42,263.72,697.12,994.12,651.62,854.23,166.23,160.13,296.6
Services, Debits–1,674.3–1,815.8–1,984.5–2,301.7–2,549.0–2,264.9–2,394.8–2,607.2–2,616.2–2,699.4
Balance on Services166.2203.5279.3395.4445.1386.7459.3559.0543.8597.2
Balance on Goods and Services–146.3–319.0–371.9–220.5–347.427.5–13.1–114.7–148.8–65.2
Income, Net154.4180.2196.7212.1196.5219.4290.6378.4328.3326.9
Current Transfers, Net–215.9–257.7–258.3–315.6–345.5–333.7–362.8–366.5–337.1–342.0
Current Account Balance–207.8–396.6–433.5–324.0–496.4–86.8–85.4–102.8–157.6–80.3
Balance on Goods and Services
Advanced Economies–146.3–319.0–371.9–220.5–347.427.5–13.1–114.7–148.8–65.2
United States–605.4–708.6–753.3–696.7–698.3–381.3–500.0–560.0–616.6–627.3
Euro Area 1205.2157.2131.2196.8128.2173.9172.9190.7252.6307.5
Germany137.1145.4161.7233.9226.6165.8184.7183.5172.0184.0
France10.4–12.6–22.8–36.6–63.2–45.9–57.9–78.2–60.9–51.3
Italy12.50.0–14.4–5.4–16.2–11.0–39.0–33.7–10.61.1
Spain–39.7–57.8–76.6–93.3–88.0–23.2–25.7–6.515.924.6
Japan94.269.862.983.917.623.074.9–41.1–22.711.9
United Kingdom–59.8–77.7–75.1–85.4–72.5–40.1–56.8–44.6–33.4–20.2
Canada42.141.531.326.721.9–23.5–30.8–23.4–20.1–22.7
Other Advanced Economies 2177.2198.9231.0254.3255.7275.5326.7363.7291.5285.6
Memorandum
Major Advanced Economies–368.9–542.3–609.6–479.6–584.1–313.0–425.0–597.6–592.3–524.6
Newly Industrialized Asian Economies89.894.7103.3130.980.8123.5137.3136.5130.6135.9
Income, Net
Advanced Economies154.4180.2196.7212.1196.5219.4290.6378.4328.3326.9
United States65.168.644.2101.5147.1128.0165.2221.1232.8256.2
Euro Area 1–5.2–10.127.7–20.5–79.1–26.09.3–11.0–29.5–52.7
Germany24.530.455.858.847.780.966.267.452.436.0
France22.529.637.342.849.144.148.453.843.044.0
Italy–7.7–2.23.1–1.6–28.5–14.5–11.6–16.3–15.7–16.2
Spain–15.1–21.3–26.1–41.2–52.2–41.5–29.1–40.6–38.1–41.1
Japan85.7103.5118.2138.6152.6131.0133.3175.7161.8163.3
United Kingdom33.039.817.542.861.431.913.332.717.218.0
Canada–18.7–18.9–11.9–12.9–16.1–13.7–16.0–21.3–23.1–21.8
Other Advanced Economies 2–5.6–2.71.0–37.4–69.3–31.9–14.6–18.7–30.9–36.0
Memorandum
Major Advanced Economies204.5250.8264.2369.9413.2387.8398.8513.0468.4479.5
Newly Industrialized Asian Economies7.1–1.07.910.316.210.414.315.014.314.7

Calculated as the sum of the individual Euro Area countries.

In this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Calculated as the sum of the individual Euro Area countries.

In this table, Other Advanced Economies means advanced economies excluding the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and Euro Area countries.

Table B16.Emerging and Developing Economies: Balances on Current Account
Projections
2004200520062007200820092010201120122013
Billions of U.S Dollars
Emerging and Developing Economies215.8412.6644.1633.0676.3294.7400.6476.3450.3373.3
Regional Groups
Central and Eastern Europe–55.1–61.1–89.0–136.2–159.9–49.5–81.8–114.1–108.7–113.2
Commonwealth of Independent States 163.587.696.371.7108.041.872.4112.5106.252.8
Russia59.584.494.377.0103.749.570.0101.196.443.7
Excluding Russia4.03.11.9–5.34.3–7.82.511.39.79.1
Developing Asia90.2137.2268.6399.7405.9300.6303.6201.3145.9189.9
China68.7134.1232.8353.9412.4261.0305.3201.0181.7228.9
India0.8–10.3–9.3–8.1–31.0–25.9–52.2–47.2–57.5–57.7
Excluding China and India20.813.445.153.924.465.550.547.521.718.8
Latin America and the Caribbean22.035.850.113.9–32.1–22.4–55.2–68.2–107.2–119.0
Brazil11.714.013.61.6–28.2–24.3–47.3–52.6–78.8–79.7
Mexico–5.2–5.9–4.5–9.3–15.7–5.1–3.1–8.8–9.9–11.7
Middle East and North Africa103.1213.9287.5271.4353.352.0186.2366.0439.7399.0
Sub-Saharan Africa–7.9–0.730.612.51.2–27.8–24.6–21.1–25.6–36.3
Excluding Nigeria and South Africa–6.1–2.07.64.5–7.4–29.6–16.8–22.4–25.4–27.4
Analytical Groups
By Source of Export Earnings
Fuel185.8352.5481.6435.2596.6142.1322.8586.6663.4552.0
Nonfuel30.160.1162.5197.779.7152.777.8–110.3–213.1–178.7
Of Which, Primary Products–0.1–0.910.07.8–15.7–2.1–4.2–18.2–26.7–23.9
By External Financing Source
Net Debtor Economies–60.6–90.3–116.9–227.3–374.5–190.0–278.0–343.1–415.5–427.7
Of Which, Official Financing–5.2–6.0–3.5–5.4–12.2–9.4–11.4–13.4–18.5–16.1
Net Debtor Economies by Debt- Servicing Experience
Economies with Arrears and/or Rescheduling during 2006–10–3.4–6.7–3.7–13.8–30.1–24.7–31.5–38.9–48.8–48.1
Other Groups
Heavily Indebted Poor Countries–9.1–12.8–11.3–15.0–25.2–22.2–17.1–22.3–35.1–33.0

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities economic structure.

AveragesProjections
1994–20032004–132004200520062007200820092010201120122013
Percent of Exports of Goods and Services
Emerging and Developing Economies–1.37.86.910.613.611.29.85.45.95.75.03.9
Regional Groups
Central and Eastern Europe–9.6–16.0–16.1–15.3–18.8–23.1–22.4–8.7–12.7–15.0–13.9–13.6
Commonwealth of Independent States110.213.720.922.519.812.113.67.910.712.611.15.4
Russia17.619.829.231.428.219.619.814.415.717.515.46.9
Excluding Russia–6.11.34.02.61.3–2.71.6–4.21.13.62.92.6
Developing Asia2.810.07.39.014.317.415.013.110.25.73.84.4
China8.416.510.516.021.926.426.119.617.49.68.09.0
India–4.8–8.30.7–6.6–4.8–3.4–10.1–9.9–14.9–11.4–12.2–10.8
Excluding China and India0.44.84.52.57.37.63.09.45.74.61.91.6
Latin America and the Caribbean–13.8–1.74.05.56.51.6–3.2–2.8–5.5–5.6–8.4–8.9
Brazil–31.4–8.610.710.48.70.8–12.3–13.4–20.2–17.9–26.9–26.1
Mexico–10.7–2.6–2.6–2.5–1.7–3.2–5.1–2.1–1.0–2.4–2.5–2.8
Middle East and North Africa7.423.820.730.333.627.026.95.516.025.427.524.7
Sub-Saharan Africa–8.0–2.2–4.4–0.311.33.90.3–9.5–6.6–4.6–5.2–7.1
Excluding Nigeria and South Africa–12.9–6.1–7.3–1.85.72.8–3.6–19.0–8.6–9.4–9.5–9.8
Analytical Groups
By Source of Export Earnings
Fuel10.924.423.731.835.227.128.09.817.724.825.320.9
Nonfuel–5.31.21.32.24.84.91.73.81.6–1.9–3.4–2.6
Of Which, Primary Products–14.5–3.1–0.1–1.07.65.0–9.3–1.5–2.3–8.1–11.4–9.6
By External Financing Source
Net Debtor Economies–11.7–9.3–4.4–5.6–6.1–10.0–13.7–8.6–10.2–10.6–12.2–11.7
Of Which, Official Financing–12.1–9.5–9.7–9.4–4.6–6.0–11.3–9.8–9.5–10.5–13.4–10.7
Net Debtor Economies by Debt- Servicing Experience
Economies with Arrears and/or
Rescheduling during 2006–10–15.7–8.3–2.4–4.1–1.9–5.9–10.5–10.6–11.0–11.1–13.4–12.4
Other Groups
Heavily Indebted Poor Countries–24.9–17.5–15.8–18.7–13.6–15.2–20.9–21.5–13.1–14.4–22.1–19.3
Memorandum
Median
Emerging and Developing Economies–11.2–13.6–9.2–7.9–9.5–15.2–19.4–14.1–14.1–14.1–17.4–15.6

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities economic structure.

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities economic structure.

Table B17.Emerging and Developing Economies by Region: Current Account Transactions(Billions of U.S. dollars)
20042005200620072008200920102011Projections
20122013
Emerging and Developing Economies
Exports of Goods2,678.23,386.84,128.94,925.06,045.94,635.95,913.87,290.57,860.78,318.4
Imports of Goods–2,451.9–2,946.0–3,483.3–4,277.8–5,292.3–4,244.6–5,347.6–6,484.7–7,104.4–7,695.1
Trade Balance226.2440.8645.7647.2753.7391.3566.3805.8756.3623.3
Services, Net–70.9–91.3–108.0–133.2–196.3–196.2–231.0–295.2–303.5–289.0
Balance on Goods and Services155.4349.5537.7514.0557.4195.1335.2510.7452.8334.3
Income, Net–85.3–121.2–120.3–134.3–168.6–151.1–207.5–302.6–279.0–246.5
Current Transfers, Net145.7184.3226.7253.3287.4250.7272.9268.2276.5285.5
Current Account Balance215.8412.6644.1633.0676.3294.7400.6476.3450.3373.3
Memorandum
Exports of Goods and Services3,108.23,900.24,737.05,674.26,925.95,425.46,833.38,313.08,976.99,557.6
Interest Payments140.9152.3178.8225.0235.6211.3218.6242.8264.2275.5
Oil Trade Balance358.2565.8671.9766.2978.7608.3779.61,015.81,161.01,093.0
Regional Groups
Central and Eastern Europe
Exports of Goods270.3313.2376.5468.9567.4439.8510.7611.4629.8668.6
Imports of Goods–341.4–398.2–486.2–619.2–752.9–519.0–619.2–758.3–773.2–816.1
Trade Balance–71.1–85.0–109.7–150.2–185.5–79.3–108.4–147.0–143.4–147.4
Services, Net21.826.927.033.641.638.438.047.547.849.8
Balance on Goods and Services–49.3–58.1–82.6–116.6–143.9–40.9–70.4–99.5–95.6–97.6
Income, Net–23.2–22.4–29.4–45.5–44.0–35.1–37.9–45.2–42.6–44.8
Current Transfers, Net17.419.423.125.827.926.526.530.629.629.2
Current Account Balance–55.1–61.1–89.0–136.2–159.9–49.5–81.8–114.1–108.7–113.2
Memorandum
Exports of Goods and Services343.4399.2472.0588.9714.5567.2642.2761.0782.6829.6
Interest Payments23.424.131.447.251.646.144.651.049.651.0
Oil Trade Balance–29.7–40.9–55.5–63.6–89.4–55.7–71.3–99.3–106.1–105.9
Commonwealth of Independent
States 1
Exports of Goods268.7346.2433.4523.6707.6457.6596.2796.4855.6873.7
Imports of Goods–174.9–216.6–279.4–379.3–499.7–334.4–418.7–550.0–610.3–673.2
Trade Balance93.8129.6154.0144.2207.9123.1177.6246.4245.3200.6
Services, Net–17.3–19.5–19.7–28.1–34.0–28.7–36.9–46.5–55.6–65.7
Balance on Goods and Services76.5110.1134.3116.2173.994.4140.7199.9189.7134.9
Income, Net–16.7–27.4–43.2–49.2–74.5–59.2–74.7–94.3–91.0–89.8
Current Transfers, Net3.84.95.24.88.66.56.46.97.57.7
Current Account Balance63.587.696.371.7108.041.872.4112.5106.252.8
Memorandum
Exports of Goods and Services304.3389.1486.3590.8793.3528.5676.0890.8959.1981.2
Interest Payments13.215.721.429.534.729.731.025.524.826.4
Oil Trade Balance91.2140.9181.6220.3310.8194.3264.7365.9407.0398.5
Developing Asia
Exports of Goods1,072.61,327.11,632.81,983.22,335.81,964.42,563.63,073.63,319.73,650.5
Imports of Goods–1,104.1–1,321.0–1,534.7–1,812.0–2,198.1–1,880.1–2,499.6–3,065.5–3,424.6–3,785.4
Trade Balance–31.56.198.0171.2137.684.364.08.1–104.9–134.9
Services, Net–7.1–15.4–7.05.72.9–11.4–4.8–31.3–10.219.3
Balance on Goods and Services–38.6–9.391.1176.9140.672.959.2–23.2–115.1–115.6
Income, Net56.955.570.890.0106.780.979.861.483.6114.7
Current Transfers, Net71.891.1106.8132.8158.6146.8164.6163.0177.4190.8
Current Account Balance90.2137.2268.6399.7405.9300.6303.6201.3145.9189.9
Memorandum
Exports of Goods and Services1,238.81,525.91,876.02,293.82,700.12,291.22,984.03,544.43,861.74,282.6
Interest Payments28.833.537.945.746.444.247.957.173.588.7
Oil Trade Balance–75.2–107.0–145.8–168.0–278.8–179.4–259.3–366.0–408.6–422.1
Latin America and the Caribbean
Exports of Goods476.9575.5688.3773.4896.5696.4881.61,090.61,145.41,194.5
Imports of Goods–419.7–495.9–590.1–704.6–856.0–644.0–835.9–1,019.1–1,107.6–1,168.7
Trade Balance57.279.698.168.840.552.445.771.537.825.8
Services, Net–11.8–15.1–16.4–22.0–30.3–31.3–47.9–62.8–67.8–68.8
Balance on Goods and Services45.464.581.746.810.221.1–2.18.7–30.0–43.0
Income, Net–68.8–82.2–95.9–100.2–109.9–101.3–114.5–139.6–141.6–143.0
Current Transfers, Net45.353.564.267.367.557.961.462.764.567.0
Current Account Balance22.035.850.113.9–32.1–22.4–55.2–68.2–107.2–119.0
Memorandum
Exports of Goods and Services543.0653.2775.4874.21,011.7801.6998.51,221.91,279.81,335.7
Interest Payments49.349.251.054.553.749.954.360.563.758.3
Oil Trade Balance36.553.964.256.269.946.452.568.574.864.8
Middle East and North Africa
Exports of Goods435.0627.9761.9894.21,187.7822.61,033.41,310.91,467.01,473.0
Imports of Goods–282.6–360.4–414.3–545.2–714.7–635.5–689.9–750.9–823.9–865.9
Trade Balance152.4267.6347.6349.0473.0187.1343.5560.0643.1607.1
Services, Net–37.0–44.1–61.7–78.7–112.8–109.6–119.0–132.6–141.0–146.6
Balance on Goods and Services115.4223.4286.0270.3360.277.5224.5427.4502.1460.5
Income, Net–5.6–9.07.216.510.83.4–8.7–21.2–15.7–6.5
Current Transfers, Net–6.6–0.5–5.6–15.4–17.7–28.8–29.7–40.3–46.8–55.0
Current Account Balance103.1213.9287.5271.4353.352.0186.2366.0439.7399.0
Memorandum
Exports of Goods and Services497.8705.8856.51,006.81,314.8943.71,160.81,440.11,601.31,617.5
Interest Payments15.716.523.534.032.928.226.630.231.927.9
Oil Trade Balance292.9451.8545.6620.0833.1521.2690.0913.41,035.51,003.1
Sub-Saharan Africa
Exports of Goods154.8197.0236.1281.6351.0255.2328.3407.6443.2458.0
Imports of Goods–129.3–153.9–178.5–217.5–270.9–231.5–284.4–340.8–364.8–385.8
Trade Balance25.443.057.564.180.223.743.966.878.472.1
Services, Net–19.5–24.1–30.2–43.7–63.8–53.6–60.5–69.5–76.7–77.1
Balance on Goods and Services5.918.927.320.416.4–30.0–16.6–2.71.7–4.9
Income, Net–27.8–35.6–29.8–45.8–57.7–39.8–51.5–63.6–71.6–77.0
Current Transfers, Net14.016.033.037.942.541.943.645.244.345.7
Current Account Balance–7.9–0.730.612.51.2–27.8–24.6–21.1–25.6–36.3
Memorandum
Exports of Goods and Services180.9227.1270.7319.7391.5293.2371.7454.8492.4511.0
Interest Payments10.513.313.514.116.313.114.318.620.723.1
Oil Trade Balance42.467.181.8101.3133.181.5103.0133.4158.4154.6

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Georgia and Mongolia, which are not members of the Commonwealth of Independent States, are included in this group for reasons of geography and similarities in economic structure.

Table B18.Emerging and Developing Economies by Analytical Criteria: Current Account Transactions(Billions of U.S. dollars)
20042005200620072008200920102011Projections
20122013
By Source of Export Earnings
Fuel
Exports726.51,037.01,277.41,497.92,008.81,333.41,704.32,228.02,478.32,480.2
Imports–388.8–502.3–603.2–806.2–1,044.0–855.8–982.8–1,161.4–1.299.3–1,391.6
Trade Balance337.7534.8674.2691.7964.8477.6721.51,066.61.179.01,088.6
Services, Net–89.6–106.8–131.4–175.4–239.1–219.5–246.8–274.6–302.8–324.3
Balance on Goods and Services248.1427.9542.9516.4725.7258.0474.7792.0876.2764.3
Income, Net–41.7–61.5–53.6–58.4–101.3–79.5–111.4–153.1–153.8–145.1
Current Transfers, Net–20.6–13.9–7.7–22.7–27.8–36.5–40.5–52.4–59.0–67.2
Current Account Balance185.8352.5481.6435.2596.6142.1322.8586.6663.4552.0
Memorandum
Exports of Goods and Services783.01,109.21,369.61,608.42,132.91,444.61,823.82,365.62,627.32,635.9
Interest Payments32.937.949.967.570.562.067.463.365.463.1
Oil Trade Balance486.9744.6912.01,053.91,443.3899.11,184.61,584.11,787.01.735.4
Nonfuel
Exports1,951.62,349.82,851.53,427.14,037.13,302.54,209.55,062.55,382.45,838.2
Imports–2,063.1–2,443.8–2,880.1–3,471.6–4,248.3–3,388.8–4,364.8–5,323.3–5.805.2–6,303.5
Trade Balance–111.5–93.9–28.6–44.5–211.2–86.3–155.2–260.8–422.8–465.3
Services, Net18.715.623.442.142.823.315.8–20.6–0.735.3
Balance on Goods and Services–92.7–78.4–5.2–2.4–168.3–63.0–139.5–281.3–423.4–430.0
Income, Net–43.5–59.7–66.7–75.8–67.2–71.6–96.1–149.5–125.2–101.4
Current Transfers, Net166.3198.1234.4276.0315.2287.2313.4320.5335.6352.7
Current Account Balance30.160.1162.5197.779.7152.777.8–110.3–213.1–178.7
Memorandum
Exports of Goods and Services2,325.22,791.03,367.44,065.84,793.03,980.95,009.65,947.46.349.66.921.7
Interest Payments108.0114.3128.9157.5165.0149.3151.3179.5198.8212.4
Oil Trade Balance–128.7–178.8–240.1–287.6–464.6–290.8–405.0–568.3–626.1–642.4
Nonfuel Primary Products
Exports67.784.4116.6138.9147.4125.6165.8200.6209.4222.8
Imports–54.3–68.9–80.7–102.1–138.0–105.5–140.4–179.4–192.7–202.1
Trade Balance13.415.535.936.89.420.025.421.216.720.8
Services, Net–5.1–5.7–6.6–10.1–12.3–12.3–15.7–18.8–20.8–20.6
Balance on Goods and Services8.39.829.326.7–2.97.79.72.3–4.10.2
Income, Net–14.3–18.6–30.3–31.6–26.8–22.6–29.8–34.6–36.3–38.2
Current Transfers, Net5.97.911.012.714.112.715.914.113.714.1
Current Account Balance–0.1–0.910.07.8–15.7–2.1–4.2–18.2–26.7–23.9
Memorandum
Exports of Goods and Services79.398.3131.7156.2167.6143.3186.7224.8233.6248.9
Interest Payments4.55.25.86.16.66.66.07.07.77.7
Oil Trade Balance–5.4–6.3–7.4–9.0–13.4–8.1–9.7–13.9–16.1–17.1
By External Financing Source
Net Debtor Economies
Exports1,098.31,296.51,552.71,836.92,197.21,734.92,168.92,626.12.755.72.945.6
Imports–1,305.9–1,561.3–1,856.6–2,268.3–2,809.9–2,159.4–2,645.6–3,174.7–3.409.0–3,630.5
Trade Balance–207.6–264.9–303.9–431.4–612.7–424.4–476.7–548.6–653.3–685.0
Services, Net25.931.938.554.566.657.344.348.064.085.9
Balance on Goods and Services–181.8–233.0–265.4–377.0–546.1–367.2–432.4–500.6–589.2–599.1
Income, Net–25.3–28.8–54.0–82.0–92.6–73.4–115.4–131.6–128.3–143.9
Current Transfers, Net146.4171.5202.5231.6264.2250.5269.8289.1302.1315.3
Current Account Balance–60.6–90.3–116.9–227.3–374.5–190.0–278.0–343.1–415.5–427.7
Memorandum
Exports of Goods and Services1,362.41,612.31,920.92,284.52,731.72,216.42,718.93,237.03.408.13,658.7
Interest Payments90.297.1108.7135.9144.0126.7123.4145.9154.0157.7
Oil Trade Balance–48.1–62.8–89.3–112.1–192.7–118.7–150.7–203.5–238.8–246.3
Official Financing
Exports42.250.461.472.689.475.399.6108.7119.3130.4
Imports–55.6–68.0–78.0–96.0–121.7–107.7–133.4–140.6–156.1–165.9
Trade Balance–13.4–17.5–16.6–23.4–32.3–32.5–33.8–31.9–36.9–35.6
Services, Net–4.5–5.3–5.9–7.2–9.7–7.6–11.5–15.0–16.2–17.0
Balance on Goods and Services–17.9–22.8–22.5–30.7–42.0–40.0–45.3–46.9–53.1–52.6
Income, Net–6.7–7.3–8.3–8.4–9.8–9.1–10.3–11.3–12.5–12.9
Current Transfers, Net19.424.127.333.739.639.844.244.847.149.4
Current Account Balance–5.2–6.0–3.5–5.4–12.2–9.4–11.4–13.4–18.5–16.1
Memorandum
Exports of Goods and Services53.363.575.689.8108.595.3120.3126.8138.4150.9
Interest Payments4.74.95.65.96.45.55.57.07.37.9
Oil Trade Balance3.12.82.6–0.20.90.11.62.30.4–0.4
Net Debtor Economies by Debt-Servicing Experience
Economies with Arrears and/or
Rescheduling during 2006–10
Exports113.5133.4159.6189.9236.0185.3233.7292.1303.0323.3
Imports–117.3–143.0–171.3–212.1–269.4–215.5–269.2–329.2–351.3–370.0
Trade Balance–3.8–9.6–11.7–22.3–33.4–30.2–35.5–37.048.2–46.8
Services, Net–4.1–5.8–6.1–5.7–8.4–5.8–8.8–10.4–9.3–9.4
Balance on Goods and Services–7.8–15.5–17.9–28.0–41.8–36.0–44.3–47.4–57.6–56.2
Income, Net–19.2–18.9–18.0–20.4–26.8–25.7–27.3–30.4–30.5–32.2
Current Transfers, Net23.727.632.234.538.537.140.139.039.340.3
Current Account Balance–3.4–6.7–3.7–13.8–30.1–24.7–31.5–38.9–48.8–48.1
Memorandum
Exports of Goods and Services139.4163.8195.4232.9286.0232.4286.0349.6363.9388.2
Interest Payments16.714.814.215.817.615.414.118.119.820.1
Oil Trade Balance4.16.09.58.18.24.24.1–4.7–13.3–12.3
Other Groups
Heavily Indebted Poor Countries
Exports47.456.169.282.2101.384.4110.6132.6135.3145.2
Imports–57.4–71.2–82.3–100.4–126.3–112.3–129.9–152.0–165.6–173.4
Trade Balance–9.9–15.1–13.1–18.2–25.0–27.9–19.3–19.4–30.3–28.1
Services, Net–9.0–10.7–13.5–14.9–17.7–16.2–20.7–23.2–22.8–22.5
Balance on Goods and Services–19.0–25.8–26.6–33.1–42.7–44.1–40.1–42.6–53.1–50.6
Income, Net–8.2–10.0–10.2–12.2–16.7–12.3–14.7–16.9–18.4–19.7
Current Transfers, Net18.123.025.630.334.234.337.737.336.437.3
Current Account Balance–9.1–12.8–11.3–15.0–25.2–22.2–17.1–22.3–35.1–33.0
Memorandum
Exports of Goods and Services57.768.483.298.8120.6103.1129.8154.8158.9170.8
Interest Payments5.47.77.57.69.18.68.810.912.113.1
Oil Trade Balance1.23.15.76.67.03.86.94.8–3.3–2.8
Table B19.Summary of Balance of Payments, Financial Flows, and External Financing(Billions of U.S. dollars)
20042005200620072008200920102011Projections
20122013
Emerging and Developing Economies
Balance of Payments1
Balance on Current Account215.8412.6644.1633.0676.3294.7400.6476.3450.3373.3
Balance on Goods and Services155.4349.5537.7514.0557.4195.1335.2510.7452.8334.3
Income, Net–85.3–121.2–120.3–134.3–168.6–151.1–207.5–302.6–279.0–246.5
Current Transfers, Net145.7184.3226.7253.3287.4250.7272.9268.2276.5285.5
Balance on Capital and Financial Account–231.7–354.3–563.1–580.4–538.8–76.1–220.5–386.5–422.3–351.4
Balance on Capital Account29.211.256.922.825.824.552.537.931.631.8
Balance on Financial Account–240.5–364.9–619.9–602.4–563.1–100.1–272.1–420.4–448.4–377.5
Direct Investment, Net187.5293.2303.6440.2479.6313.9332.0418.3403.8421.2
Portfolio Investment, Net10.524.3–91.244.1–160.0113.7259.874.60.727.1
Other Investment, Net–23.9–91.8–76.9123.4–157.9–7.49.9–81.8–119.5–101.2
Change in Reserves (– = increase)–414.6–590.6–755.4–1,210.0–724.9–520.3–873.8–831.6–733.3–724.6
Errors and Omissions, Net15.0–58.9–81.3–52.8–137.3–219.4–181.6–94.6–33.9–27.4
Financial Flows
Balance on Financial Account–240.5–364.9–619.9–602.4–563.1–100.1–272.1–420.4–448.4–377.5
Change in Reserves (– = increase)–414.6–590.6–755.4–1,210.0–724.9–520.3–873.8–831.6–733.3–724.6
Official Flows, Net–68.4–95.0–163.9–92.6–97.8135.074.7–109.8–109.7–112.9
Private Financial Flows, Net3242.4320.7299.4700.1259.5285.2527.0521.0394.7460.0
Direct Investment, Net187.5293.2303.6440.2479.6313.9332.0418.3403.8421.2
Private Portfolio Investment, Net16.941.1–39.5105.9–72.986.0232.9101.179.399.3
Other Private Financial Flows, Net38.1–13.735.3154.1–147.1–114.7–37.91.6–88.4–60.5
External Financing4
Net External Financing5491.9616.5875.91,530.5881.7743.51,303.91,188.01,103.51,165.0
Non-Debt-Creating Flows321.5420.6592.2740.0611.9562.0702.9701.0695.0755.3
Capital Transfers69.211.256.922.825.824.552.537.931.631.8
Foreign Direct Investment and Equity Securities Liabilities7296.4400.6524.9708.2569.5519.3636.6643.6643.9697.5
Net External Borrowing8176.6198.6287.2797.4276.2189.1609.7500.2422.2422.8
Borrowing from Official Creditors9,10–26.6–85.8–104.71.842.375.559.433.223.718.2
Borrowing from Banks939.060.897.8216.6117.149.3289.0187.0219.4213.9
Borrowing from Other Private Creditors9164.2223.5294.1578.9116.864.3261.3280.1179.1190.7
Memorandum
Balance on Goods and Services in Percent of GDP112.74.35.14.03.61.72.12.62.21.7
Scheduled Amortization of External Debt730.5942.71,144.81,235.31,567.21,561.81,585.01,911.92,164.42,388.3
Gross External Financing121,215.61,556.52,019.02,759.92,438.02,299.42,885.53,090.63,296.13,558.4
Gross External Borrowing13899.21,130.01,425.92,021.01,831.21,742.02,176.92,388.02,599.82,806.9
Exceptional External Financing, Net2.1–12.220.912.710.017.115.53.31.52.8
Of Which,
Arrears on Debt Service–7.6–19.8–19.7–12.5–7.4–8.9–8.8–1.0
Debt Forgiveness1.7–2.741.015.9