Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
November 1998
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    Statistical Appendix

    The statistical appendix presents historical data, as well as projections. It comprises four sections: Assumptions, Data and Conventions, Classification of Countries, and Statistical Tables.

    The assumptions underlying the estimates and projections for 1998–99 and the medium-term scenario for 2000–2003 are summarized in the first section. The second section provides a general description of the data, and 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 third section. Note that the group of advanced economies, previously labeled industrial countries, includes Israel and four newly industrialized Asian economies, which all were added to the industrial country group in the May 1997 issue of the World Economic Outlook.

    The last, and main, section comprises the statistical tables. Data in these tables have been compiled on the basis of information available in mid-September 1998. The Figures for 1998 and beyond are shown with the same degree of precision as the historical figures, solely for convenience; since 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 four-week period July 27–August 24, 1998, except that the bilateral exchange rates among the ERM currencies are assumed to remain constant in nominal terms. For 1998 and 1999, these assumptions imply average U.S. dollar/SDR conversion rates of 1.339 and 1.326, respectively.

    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 2.1.

    It is assumed that the price of oil will average $13.28 a barrel in 1998 and $14.51 a barrel in 1999. In the medium term, the oil price is assumed to remain unchanged in real terms.

    With regard to interest rates, it is assumed that the London interbank offered rate (LIBOR) on six-month U.S. dollar deposits will average 5.7 percent in 1998 and 1999; that the three-month certificate of deposit rate in Japan will average 0.7 percent in 1998 and 0.6 percent in 1999; and that the three-month interbank deposit rate in Germany will average 3.7 percent in 1998 and 1999.

    Data and Conventions

    Data and projections for 182 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 completion in 1993 of the comprehensive revision of the standardized System of National Accounts 1993 (SNA) and the IMF’s Balance of Payments Manual (BPM) represented important improvements in the standards of economic statistics and analysis.1 The IMF was actively involved in both projects, particularly the new Balance of Payments Manual, which reflects the IMF’s special interest in countries’ external positions. Key changes introduced with the new Manual were summarized in Box 13 of the May 1994 World Economic Outlook. The process of adapting country balance of payments data to the definitions of the new Balance of Payments Manual began with the May 1995 World Economic Outlook. However, full concordance with the BPM 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 the BPM.

    Composite data for country groups in the World Economic Outlook are either sums or weighted averages of data for individual countries. Arithmetically weighted averages are used for all data except inflation and money growth for the developing and transition country groups, 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 world or group GDP.

    • Composites for other data relating to the domestic economy, whether growth rates or ratios, are weighted by GDP valued at purchasing power parities (PPPs) as a share of total world or group GDP.2

    • 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 percentage 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.

    Unless otherwise indicated, multiyear averages of growth rates are expressed as compound annual rates of change.

    Classification of Countries

    Summary of the Country Classification

    The country classification in the World Economic Outlook divides the world into three major groups: advanced economies, developing countries, and countries in transition.3 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, A few countries are presently not included in these groups, cither because they are not IMF members, and their economies are not monitored by the IMF, or because databases have not yet been compiled. 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, is an example of an economy for which a database has not been completed, It should also be noted that, owing to lack of data, only three of the former republics of the dissolved Socialist Federal Republic of Yugoslavia (Croatia, the former Yugoslav Republic of Macedonia, and Slovenia) are included in the group composites for countries in transition.

    Each of the three main country groups is further divided into a number of subgroups. Among the advanced economies, the seven largest in terms of GDP, collectively referred to as the major industrial countries, are distinguished as a subgroup, and so are the 15 current members of the European Union and the four newly industrialized Asian economies. The developing countries are classified by region, as well as into a number of analytical and other groups. A regional breakdown is also used for the classification of the countries in transition, 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 1997 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, 19971(In percent of total for group or world)
    Number of

    Countries
    GDPExports of Goods

    and Services
    Population
    Share of total for
    Advanced

    economies
    WorldAdvanced

    economies
    WorldAdvanced

    economies
    World
    Advanced economies28100.055.3100.077.1100.015.7
    Major industrial countries780.144.362.748.474.511.7
    United States36.820.417.813.729.54.6
    Japan14.07.79.27.113.82.2
    Germany8.24.611.38.79.01.4
    France6.23.46.85.26.31.0
    Italy5.73.16.04.66.21.0
    United Kingdom5.93.27.05.46.41.0
    Canada3.31.84.73.63.30.5
    Other advanced economies2119.911.037.328.725.54.0
    Memorandum
    Industrial countries (former definition)2393.451.786.166.490.914.3
    European Union1535.819.849.137.940.66.4
    Euro area1128.015.538.930.031.54.9
    Newly industrialized Asian economics46.13.413.310.38.51.3
    Developing countriesWorldDeveloping countriesWorldDeveloping countriesWorld
    Developing countries128100.039.9100.018.6100.077.3
    Regional groups
    Africa518.33.310.62.014.911.5
    Sub-Sahara486.02.48.01.513.410.4
    Excluding Nigeria and South Africa463.61.54.10.810.27.9
    Asia2757.923.145.08.467.652.3
    China29.011.616.63.127.521.2
    India10.84.33.60.721.616.7
    Other Asia2518.27.224.84.618.614.4
    Middle East and Europe1711.64.620.53.86.65.1
    Western Hemisphere3322.18.823.94.410.88.4
    Analytical groups
    By source of export earnings
    Fuel179.83.919.03.56.75.2
    Nonfuel11190.236.081.015.193.372.2
    Manufactures654.721.839.27.357.644.5
    Primary products405.02.06.01.112.09.3
    Services, income, and private transfers393.81.54.70.94.23.3
    Diversified2626.710.631.05.819.515.1
    By external financing source
    Net creditor countries72.81.111.12.10.80.6
    Net debtor countries12197.238.788.916.599.276.7
    Official financing629.43.77.81.520.816.1
    Private financing3463.925.563.311.845.435.1
    Diversified financing2523.89.517.83.333.025.5
    Net debtor countries by

    debt-servicing experience
    Countries with arrears and/or rescheduling during 1992–966023.69.422.74.226.820.7
    Other net debtor countries6173.629.365.712.272.556.1
    Other groups
    Heavily indebted poor countries404.11.64.30.813.110.2
    Least developed countries464.41.82.60.513.510.4
    Middle East and north Africa2111.64.618.83.57.55.8
    Countries

    in transition
    WorldCountries

    in transition
    WorldCountries

    in transition
    World
    Countries in transition28100.04.8100.04.2100.07.0
    Central and eastern Europe1851.72.557.42.445.13.1
    Excluding Belarus and Ukraine1641.02.048.82.129.92.1
    Russia38.81.935.71.536.62.5
    Transcaucasus and central Asia99.50.57.00.318.41.3

    The GDP shares are based on the purchasing-power-parity (PPP) valuation of country GDPs.

    A new classification, the euro area, has been added to the Statistical Appendix for some variables. The euro area comprises the countries that will form the European Monetary Union as of January 1, 1999; namely: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain, Data shown are aggregates of country data and do not reflect official statistics at this time.

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

    Advanced Economies

    The composition of advanced economies (28 countries) is shown in Table B. The seven largest countries in this group in terms of GDP—the United States, Japan, Germany, France, Italy, the United Kingdom, and Canada—constitute the subgroup of major industrial countries, often referred to as the Group of Seven (G-7) countries. The current members of the European Union (15 countries) and the newly industrialized Asian economies are also distinguished as subgroups. Composite data shown in the tables under the heading “European Union” cover the current 15 members of the European Union for all years, even though the membership has increased over time.

    Table B.Advanced Economies by Subgroup
    European UnionNewly Industrialized Asian EconomiesOther Countries
    Major industrial countries
    FranceCanada
    GermanyJapan
    ItalyUnited States
    United Kingdom
    Other advanced economies
    AustriaLuxembourgHong Kong SAR1Australia
    BelgiumNetherlandsKoreaIceland
    DenmarkPortugalSingaporeIsrael
    FinlandSpainTaiwan Province of ChinaNew Zealand
    GreeceSwedenNorway
    IrelandSwitzerland

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

    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 are 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.

    Developing Countries

    The group of developing countries (128 countries) includes all countries that are not classified as advanced economies or as countries in transition, together with a few dependent territories for which adequate statistics are available.

    The regional breakdowns of developing countries in the World Economic Outlook conform to the IMF’s International Financial Statistics (IFS) classification—Africa, Asia, Europe, Middle East, and Western Hemisphere—with one important exception. Because all of the developing countries in Europe except Cyprus, Malta, and Turkey are included in the group of countries in transition, the World Economic Outlook classification places these three countries in a combined Middle East and Europe region. In both classifications, Egypt and the Libyan Arab Jamahiriya are included in this region, not in Africa. Three additional regional groupings—two of them constituting part of Africa and one a subgroup of Asia—are included in the World Economic Outlook because of their analytical significance. These are sub-Sahara, sub-Sahara excluding Nigeria and South Africa, and Asia excluding China and India.

    The developing countries are also classified according to analytical criteria and into other groups. The analytical criteria reflect countries’ composition of export earnings and other income from abroad, a distinction between net creditor and net debtor countries, and, for the net debtor countries, financial criteria based on external financing source and experience with external debt servicing. Included as “other groups” are currently the heavily indebted poor countries (HIPCs), the least developed countries, and Middle East and north Africa (MENA). The detailed composition of developing countries in the regional, analytical, and other groups is shown in Tables C through E.

    The first analytical criterion, by source of export earnings, distinguishes among five categories: fuel (Standard International Trade Classification—SITC 3); manufactures (SITC 5 to 9, less 68); nonfuel primary products (SITC 0, 1, 2, 4, and 68); services, income, and private transfers (exporters of services and recipients of income from abroad, including workers’ remittances); and diversified export earnings. Countries whose 1990–93 export earnings in any of the first four of these categories accounted for more than half of total export earnings are allocated to that group, while countries whose export earnings were not dominated by any one of these categories are classified as countries with diversified export earnings (see Table C).

    Table C.Developing Countries by Region and Main Source of Export Earnings
    FuelManufacturesPrimary ProductsServices,

    Income, and

    Private Transfers
    Diversified

    Source of

    Export Earnings
    Africa
    Sub-SaharaAngolaBotswanaBeninCameroon
    Congo, Republic ofBurundiBurkina FasoKenya
    Central African RepublicCape VerdeMauritius
    GabonComorosSenegal
    NigeriaChadDjiboutiSierra Leone
    Congo, Democratic Republic ofEritreaSouth Africa
    Gambia, The
    Côte d’IvoireLesotho
    Equatorial GuineaMozambique, Republic of
    Ethiopia
    GhanaSeychelles
    Guinea
    Guinea-Bissau
    Liberia
    Madagascar
    Malawi
    Mali
    Mauritania
    Namibia
    Niger
    Rwanda
    São Tomé and Príncipe
    Somalia
    Sudan
    Swaziland
    Tanzania
    Togo
    Uganda
    Zambia
    Zimbabwe
    North AfricaAlgeriaMorocco

    Tunisia
    Asia
    Brunei DarussalamChinaCambodiaBhutanAfghanistan, Islamic State of
    IndiaMyanmarFiji
    MalaysiaPapua New GuineaKiribatiBangladesh
    PakistanSolomon IslandsMaldivesIndonesia
    ThailandVietnamMarshall IslandsLao People’s Democratic Republic
    Micronesia, Federated States of
    NepalPhilippines
    SamoaSri Lanka
    Tonga
    Vanuatu
    Middle East and Europe
    BahrainCyprusMalta
    Iran, Islamic Republic ofEgyptSyrian Arab Republic
    Jordan
    IraqLebanonTurkey
    KuwaitYemen, Republic of
    Libya
    Oman
    Qatar
    Saudi Arabia
    United Arab Emirates
    Western HemisphereTrinidad and TobagoBrazilBoliviaAntigua and BarbudaArgentina
    ChileBahamas, TheColombia
    VenezuelaGuyanaBarbadosCosta Rica
    HondurasBelizeDominica
    NicaraguaDominican RepublicEcuador
    PeruEl SalvadorGuatemala
    SurinameGrenadaMexico
    HaitiNetherlands Antilles
    Jamaica
    PanamaUruguay
    Paraguay
    St. Kitts and Nevis
    St. Lucia
    St. Vincent and the Grenadines

    The financial criteria first distinguish between net creditor and net debtor countries. Net creditor countries are defined as developing countries with positive net external assets at the end of 1995.4 Countries in the much larger net debtor group are differentiated on the basis of two additional financial criteria: by main source of external financing and by experience with debt servicing5

    Within the classification main source of external financing, three subgroups, based on country estimates of the composition of external financing, are identified: countries relying largely on official financing, countries relying largely on private financing, and countries with diversified financing source. Net debtor countries are allocated to the first two of these subgroups according to whether their official financing, including official grants, or their private financing, including direct and portfolio investment, accounted for more than two-thirds of their total 1991–95 external financing. Countries that do not meet either of these two criteria are classified as countries with diversified financing source (see Table D).

    Table D.Developing Countries by Region and Main External Financing Source
    Net Debtor Countries
    By main external financing source
    Net Creditor CountriesOfficial financingPrivate financingDiversified financing
    Africa
    Sub-Sahara
    Angola
    Benin
    Botswana
    Burkina Faso
    Burundi
    Cameroon
    Cape Verde
    Central African Republic
    Chad
    Comoros
    Congo, Democratic Republic of
    Congo, Republic of
    Côte d’Ivoire
    Djibouti
    Equatorial Guinea
    Eritrea
    Ethiopia
    Gabon
    Gambia, The
    Ghana
    Guinea
    Guinea-Bissau
    Kenya
    Lesotho
    Liberia
    Madagascar
    Malawi
    Mali
    Mauritania
    Mauritius
    Mozambique, Republic of
    Namibia
    Niger
    Nigeria
    Rwanda
    São Tomé and Príncipe
    Senegal
    Seychelles
    Sierra Leone
    Somalia
    South Africa
    Sudan
    Swaziland
    Tanzania
    Togo
    Uganda
    Zambia
    Zimbabwe
    North Africa
    Algeria
    Morocco
    Tunisia
    Asia
    Afghanistan, Islamic State of
    Bangladesh
    Bhutan
    Brunei Darussalam
    Cambodia
    China
    Fiji
    India
    Indonesia
    Kiribati
    Lao People’s Democratic Republic
    Malaysia
    Maldives
    Marshall Islands
    Micronesia, Federated States of
    Myanmar
    Nepal
    Pakistan
    Papua New Guinea
    Philippines
    Samoa
    Solomon Islands
    Sri Lanka
    Thailand
    Tonga
    Vanuatu
    Vietnam
    Middle East and Europe
    Bahrain
    Cyprus
    Egypt
    Iran, Islamic Republic of
    Iraq
    Jordan
    Kuwait
    Lebanon
    Libya
    Malta
    Oman
    Qatar
    Saudi Arabia
    Syrian Arab Republic
    Turkey
    United Arab Emirates
    Yemen, Republic of
    Western Hemisphere
    Antigua and Barbuda
    Argentina
    Bahamas, The
    Barbados
    Belize
    Bolivia
    Brazil
    Chile
    Colombia
    Costa Rica
    Dominica
    Dominican Republic
    Ecuador
    El Salvador
    Grenada
    Guatemala
    Guyana
    Haiti
    Honduras
    Jamaica
    Mexico
    Netherlands Antilles
    Nicaragua
    Panama
    Paraguay
    Peru
    St. Kitts and Nevis
    St. Lucia
    St. Vincent and the Grenadines
    Suriname
    Trinidad and Tobago
    Uruguay
    Venezuela

    The other groups of developing countries (see Table E) constitute the HIPCs, the least developed countries, and MENA countries. The first group comprises 40 of the countries (all except Nigeria) considered by the IMF and the World Bank for their debt initiative, known as die HIPC Initiative.6 The group of least developed countries comprises 46 of the 47 developing countries classified as “least developed” by the United Nations (Tuvalu, not being an IMF member, is excluded). Finally, Middle East and north Africa, also referred to as the MENA countries, is a new World Economic Outlook group, whose composition straddles the Africa and Middle East and Europe regions. It is defined as the Arab League countries plus the Islamic Republic of Iran.

    Table E.Other Developing Country Groups
    Heavily Indebted Poor

    Countries
    Least Developed

    Countries
    Middle East and North

    Africa
    Africa
    Sub-Sahara
    Angola
    Benin
    Botswana
    Burkina Faso
    Burundi
    Cameroon
    Cape Verde
    Central African Republic
    Chad
    Comoros
    Congo, Democratic Republic of
    Congo, Republic of
    Côte d’Ivoire
    Djibouti
    Equatorial Guinea
    Ethiopia
    Gambia, The
    Ghana
    Guinea
    Guinea-Bissau
    Kenya
    Lesotho
    Liberia
    Madagascar
    Malawi
    Mali
    Mauritania
    Mozambique, Republic of
    Niger
    Rwanda
    São Tomé and Príncipe
    Senegal
    Sierra Leone
    Somalia
    Sudan
    Tanzania
    Togo
    Uganda
    Zambia
    North Africa
    Algeria
    Morocco
    Tunisia
    Asia
    Afghanistan, Islamic State of
    Bangladesh
    Bhutan
    Cambodia
    Kiribati
    Lao People’s Democratic Republic
    Maldives
    Myanmar
    Nepal
    Samoa
    Solomon Islands
    Vanuatu
    Vietnam
    Middle East and Europe
    Bahrain
    Egypt
    Iran, Islamic Republic of
    Iraq
    Jordan
    Kuwait
    Lebanon
    Libya
    Oman
    Qatar
    Saudi Arabia
    Syrian Arab Republic
    United Arab Emirates
    Yemen, Republic of
    Western Hemisphere
    Bolivia
    Guyana
    Haiti
    Honduras
    Nicaragua

    Countries in Transition

    The group of countries in transition (28 countries) comprises central and eastern European countries (including the Baltic countries), Russia, the other states of the former Soviet Union, and Mongolia. The transition country group is divided into three regional subgroups: central and eastern Europe, Russia, and Transcaucasus and central Asia. The detailed country composition is shown in Table F.

    Table F.Countries in Transition by Region
    Central and Eastern EuropeRussiaTranscaucasus

    and Central Asia
    AlbaniaLithuaniaRussiaArmenia
    BelarusMacedonia, former Yugoslav Republic ofAzerbaijan
    Bosnia and HerzegovinaMoldovaGeorgia
    BulgariaPolandKazakhstan
    CroatiaRomaniaKyrgyz Republic
    Czech RepublicSlovak RepublicMongolia
    EstoniaSloveniaTajikistan
    HungaryUkraineTurkmenistan
    LatviaYugoslavia, Federal Republic of (Serbia/Montenegro)Uzbekistan

    One common characteristic of these countries is the transitional state of their economies from a centrally administered system to one based on market principles. Another is that this transition involves the transformation of sizable industrial sectors whose capital stocks have proven largely obsolete. Although several other countries are also “in transition” from partially command-based economic systems toward market-based systems (including China, Cambodia, the Lao People’s Democratic Republic, Vietnam, and a number of African countries), most of these are largely rural, low-income economies for whom the principal challenge is one of economic development. These countries are therefore classified in the developing country group rather than in the group of countries in transition.

    List of Tables

    Medium-Term Baseline Scenario

    Table 1.Summary of World Output1(Annual percent change)
    Ten-Year Averages
    1980–891990–991990199119921993199419951996199719981999
    World3.43.02.71.82.52.63.93.74.24.12.02.5
    Advanced economies2.92.32.71.21.91.23.22.53.03.12.01.9
    United States2.72.41.2-0.92.72.33.52.33.43.93.52.0
    European Union2.32.03.01.61.0-0.52.92.41.72.72.92.5
    Japan3.81.55.13.81.00.30.61.53.90.8-2.50.5
    Other advanced economies4.53.53.72.83.44.25.74.84.14.50.21.6
    Developing countries4.35.34.05.06.66.56.76.16.65.82.33.6
    Regional groups
    Africa2.52.82.31.90.40.72.23.15.83.23.74.7
    Asia7.07.05.66.69.59.39.69.08.26.61.83.9
    Middle East and Europe2.23.85.63.56.53.90.73.84.74.72.32.7
    Western Hemisphere2.23.21.03.83.33.95.21.23.55.12.82.7
    Analytical groups
    By source of export earnings
    Fuel0.83.04.94.86.31.50.22.63.73.50.72.2
    Nonfuel5.05.63.95.06.77.17.56.56.96.02.43.7
    By external financing source
    Net creditor countries0.43.67.25.08.44.01.71.23.52.9-0.42.4
    Net debtor countries4.45.43.95.06.66.66.96.26.75.92.33.6
    Official financing3.53.83.84.03.02.53.43.95.83.44.53.3
    Private financing4.05.93.66.07.87.97.8636.76.43.23.6
    Diversified financing4.54.54.72.94.94.76.16.96.95.3-0.83.6
    Net debtor countries by debt-servicing experience
    Counties with arrears and/or rescheduling during 1993–972.32.80.72.32.22.63.24.13.84.12.23.2
    Other net debtor countries5.66.35.36.18.38.08.27.07.66.42.43.7
    Countries in transition2.8-4.1-3.5-7.6-14.0-7.3-7.1-1.5-1.02.0-0.2-0.2
    Central and eastern Europe-10.0-8.7-3.8-2.81.61.62.83.43.6
    Excluding Belarus and Ukraine-10.7-5.20.23.35.53.73.23.74.1
    Russia-5.4-19.4-10.4-11.6-4.8-5.00.9-6.0-6.0
    Transcaucasus and central Asia-7.0-14.4-10.1-10.3-4.31.62.14.13.8
    Memorandum
    Median growth rate
    Advanced economies3.02.73.22.21.41.33.62.93.53.43.02.6
    Developing countries3.23.83.12.93.62.93.54.44.64.34.04.5
    Countries in transition3.5-1.9-2.9-10.8-11.4-8.1-1.81.83.03.15.14.6
    Output per capita
    Advanced economies2.21.61.90.41.20.62.51.92.12.51.41.4
    Developing countries1.93.32.13.04.04.54.54.24.54.00.72.0
    Countries in transition2.2-4.3-4.1-7.7-14.1-7.4-7.1-1.4-0.91.9-0.3-0.2
    Value of world output in billions of U.S. dollars
    At market exchange rates14,47326,64822,48923,63623,50624,19125,97228,80229,61029,50628,99729,772
    At purchasing power parities17,58433,42725,52426,98628,43529,88031,71333,63935,75938,04740,68543,606

    Real GDP.

    Table 2.Advanced Economies: Real GDP and Total Domestic Demand(Annual percent change)
    Ten-Year AveragesFourth Quarter1
    1980–891990–991990199119921993199419951996199719981999199719981999
    Real GDP
    Advanced economies2.92.32.71.21.91.23.22.53.03.12.01.9
    Major industrial countries2.72.12.40.71.81.02.82.12.82.92.11.92.72.01.9
    United States2.72.41.2-0.92.72.33.52.33.43.93.52.03.83.21.9
    Japan3.81.55.13.81.00.30.61.53.90.8-2.50.5-0.4-2.00.6
    Germany21.82.45.75.02.2-1.22.71.21.32.22.62.52.32.13.1
    France2.31.82.50.81.2-1.32.82.11.62.33.12.83.03.02.5
    Italy2.41.42.21.10.6-1.22.22.90.71.52.12.52.62.81.6
    United Kingdom32.41.60.4-2.0-0.52.14.32.72.23.42.31.23.21.41.7
    Canada2.91.80.3-1.90.92.53.92.21.23.73.02.54.02.72.4
    Other advanced economies3.73.24.02.92.52.04.64.43.84.21.42.3
    Spain2.72.33.72.30.7-1.22.12.92.33.43.83.6
    Netherlands3.02.84.12.32.00.83.22.33.13.63.83.0
    Belgium1.71.93.01.61.5-1.52.42.11.52.92.72.6
    Sweden2.71.31.4-1.1-1.4-2.23.33.91.31.82.93.3
    Austria2.02.44.63.41.30.52.52.11.62.52.82.6
    Denmark1.82.31.21.41.31.53.63.13.53.52.51.9
    Finland3.71.5-7.1-3.6-1.24.55.13.66.05.13.5
    Greece41.81.93.10.7-1.62.02.12.73.53.23.6
    Portugal3.02.84.82.31.9-1.42.32.43.64.04.23.7
    Ireland3.46.87.82.04.23.17.311.17.49.88.67.0
    Luxembourg4.74.63.45.45.88.54.13.53.54.84.13.5
    Switzerland2.20.91.8-0.8-0.1-0.50.50.61.72.01.9
    Norway2.73.42.03.13.32.75.53.85.53.43.02.2
    Israel3.24.66.05.56.63.36.96.84.62.21.62.4
    Iceland3.22.41.21.1-3.31.03.61.05.55.05.04.0
    Korea7.85.09.59.15.15.88.68.97.15.5-7.0-1.0
    Australia3.32.81.5-0.72.43.95.53.53.73.33.52.0
    Taiwan Province of China8.15.95.47.66.86.36.56.05.76.94.03.9
    Hong Kong SAR7.33.43.45.16.36.15.43.94.65.3-5.0
    Singapore7.36.69.07.36.210.410.58.76.97.80.2
    New Zealand1.82.0-0.2-1.70.95.16.03.93.12.3-0.51.7
    Memorandum
    Industrial countries2.72.12.50.81.70.92.92.22.82.92.32.0
    European Union2.32.03.01.61.0-0.52.92.41.72.72.92.5
    Euro area2.32.13.72.41.3-1.02.72.21.62.53.02.8
    Newly industrialized Asian economies7.85.27.37.95.86.37.67.36.36.0-2.90.7
    Real total domestic demand
    Advanced economies2.82.22.70.81.90.93.32.53.02.82.12.1
    Major industrial countries2.62.12.20.21.70.93.02.02.92.72.82.12.72.81.9
    United States2.42.60.8-1.62.82.93.92.13.64.25.02.64.45.21.6
    Japan3.61.25.22.90.40.11.02.34.8-0.5-3.5-2.0-2.60.4
    Germany1.32.35.24.82.8-1.42.71.40.71.42.62.71.52.43.4
    France2.31.52.80.60.2-2.23.01.80.90.93.53.11.63.73.1
    Italy2.71.22.51.80.5-4.51.52.30.32.52.62.83.72.13.9
    United Kingdom2.91.5-0.6-3.10.22.03.41.82.53.73.71.54.32.61.7
    Canada3.21.6-1.40.91.53.01.01.15.32.72.24.51.72.1
    Other advanced economies3.52.84.83.22.50.94.84.43.63.0-0.92.1
    Memorandum
    Industrial countries2.62.12.30.31.60.63.02.22.82.83.02.3
    European Union2.31.83.01.41.0-1.82.62.11.32.33.32.8
    Euro area2.21.93.82.41.3-2.52.42.11.12.03.23.1
    Newly industrialized Asian economies7.04.410.59.66.65.78.67.06.52.8-11.40.2

    From fourth quarter of preceding year.

    Data through 1991 apply to west Germany only.

    Average of expenditure, income, and output estimates of GDP at market prices.

    Based on revised national accounts for 1988 onward.

    Table 3.Advanced Economies: Components of Real GDP(Annual percent change)
    Ten-Year Averages
    1980–891990–991990199119921993199419951996199719981999
    Private consumer expenditure
    Advanced economies3.02.42.91.42.41.72.82.52.92.72.31.9
    Major industrial countries2.92.22.60.92.21.62.52.22.72.52.82.0
    United States3.02.61.7-0.62.82.93.32.73.23.44.72.4
    Japan3.41.74.42.52.11.21.92.12.91.1-1.70.3
    Germany 11.72.35.45.62.80.11.21.81.60.51.52.3
    France2.41.82.71.41.40.21.41.72.00.93.32.9
    Italy2.91.42.42.71.0-2.41.41.90.82.41.92.4
    United Kingdom3.41.90.6-2.2-0.12.52.81.73.64.63.81.8
    Canada2.92.01.3-1.41.81.93.11.72.44.13.02.1
    Other advanced economies3.33.04.23.83.52.04.13.73.73.60.41.5
    Memorandum
    Industrial countries2.82.22.61.02.11.42.52.32.72.62.92.2
    European Union2.42.03.02.31.6-0.21.71.92.12.22.72.6
    Euro area2.32.03.63.22.0-0.61.41.91.71.62.52.7
    Newly industrialized Asian economies7.14.98.98.57.57.07.76.36.45.2-5.5-1.6
    Public consumption
    Advanced economies2.51.32.72.01.50.71.10.81.50.91.01.1
    Major industrial countries2.31.12.21.51.10.51.00.61.10.61.11.1
    United States2.50.72.31.0-0.1-0.30.4-0.30.71.31.11.3
    Japan2.71.51.52.02.02.42.43.31.5-0.10.10.2
    Germany11.31.72.20.54.1-0.52.12.02.7-0.72.72.3
    France2.31.92.12.83.43.41.12.61.21.11.6
    Italy2.50.41.31.71.10.5-0.6-1.00.2-0.71.7-0.3
    United Kingdom1.01.22.52.6-0.1-0.22.21.31.20.20.91.2
    Canada2.50.63.72.81.0-0.2-1.8-0.4-1.3-0.10.81.7
    Other advanced economies3.52.55.04.53.21.51.71.63.32.40.71.1
    Memorandum
    Industrial countries2.41.22.41.71.20.61.00.81.10.71.11.2
    European Union2.01.52.42.22.20.91.10.91.60.21.61.4
    Euro area2.31.62.42.22.81.11.00.71.70.31.81.5
    Newly industrialized Asian economies6.14.28.88.07.42.02.52.07.55.0-0.6-0.5
    Gross Fixed capital formation
    Advanced economies3.12.82.7-1.61.5-0.44.44.15.33.94.04.5
    Major industrial countries2.82.71.9-2.41.9-0.24.03.35.43.64.94.6
    United States2.24.5-1.4-6.65.25.16.65.07.87.210.57.0
    Japan4.30.78.53.3-1.5-2.0-0.81.79.5-3.5-7.2-0.2
    Germany11.02.08.56.03.5-5.63.5-1.20.11.14.3
    France2.20.52.8-2.8-6.71.32.5-0.50.44.14.4
    Italy2.30.83.60.8-1.8-12.80.57.10.40.64.95.9
    United Kingdom3.90.3-3.5-9.5-1.50.64.31.51.55.24.51.0
    Canada5.31.8-3.6-3.5-1.3-2.97.1-2.84.811.44.65.1
    Other advanced economies4.43.56.31.9-1.36.17.35.05.30.34.0
    Memorandum
    Industrial countries2.92.61.9-2.51.3-0.84.03.75.24.05.14.6
    European Union2.61.43.8-0.2-1.0-6.32.43.71.02.64.54.4
    Euro area2.21.65.41.9-0.5-7.62.13.70.62.14.24.9
    Newly industrialized Asian economies7.75.916.711.16.06.410.39.56.83.4-11.72.9
    Final domestic demand
    Advanced economies2.92.33.01.01.91.02.82.53.22.52.22.4
    Major industrial countries2.82.12.50.41.80.92.42.13.12.32.82.4
    United States2.82.71.2-1.42.72.73.32.63.63.75.23.2
    Japan3.61.35.42.70.90.31.12.14.8-0.5-3.20.1
    Germany11.42.35.44.73.2-1.31.91.41.20.11.72.7
    France2.41.52.61.30.8-0.71.31.51.60.93.03.0
    Italy2.71.12.42.10.5-4.00.92.30.61.52.42.6
    United Kingdom3.01.50.2-2.6-0.31.62.91.62.73.83.41.5
    Canada3.31.60.9-0.81.00.52.70.42.04.52.82.6
    Other advanced economies3.53.05.03.52.51.24.24.23.93.62.1
    Memorandum
    Industrial countries2.82.12.50.51.70.72.42.33.02.42.92.5
    European Union2.41.83.01.71.1-1.31.82.01.81.92.92.8
    Euro area2.31.83.82.71.6-1.81.52.01.51.52.73.0
    Newly industrialized Asian economies7.35.111.69.36.66.18.06.96.74.4-7.4
    Stock building2
    Advanced economies-0.2-0.3-0.2-0.10.5-0.1-0.20.2-0.1-0.2
    Major industrial countries-0.2-0.3-0.2-0.10.6-0.1-0.20.40.1-0.3
    United States-0.4-0.4-0.20.20.20.6-0.50.5-0.1-0.6
    Japan-0.1-0.20.2-0.5-0.1-0.20.20.1-0.2-0.1
    Germany1-0.10.1-0.10.1-0.4-0.10.8-0.51.21.0
    France-0.10.2-0.7-0.6-1.51.70.3-0.70.10.50.1
    Italy0.10.1-0.30.1-0.60.6-0.31.00.20.2
    United Kingdom-0.1-0.8-0.50.50.40.50.2-0.2-0.10.3
    Canada-0.1-0.9-0.5-0.11.00.30.6-0.90.8-0.1-0.4
    Other advanced economies-0.2-0.1-0.3-0.30.50.2-0.2-0.6-0.8
    Memorandum
    Industrial countries-0.2-0.2-0.2-0.1-0.10.6-0.1-0.20.40.1-0.3
    European Union-0.1-0.3-0.1-0.50.80.1-0.40.40.40.1
    Euro area0.10.1-0.3-0.3-0.70.90.1-0.40.60.50.1
    Newly Industrialized Asian economies-0.1-0.5-0.90.30.1-0.50.70.1-0.2-1.6-3.60.2
    Foreign balance2
    Advanced economies0.10.10.30.3-0.20.1-0.10.3-0.1-0.1
    Major industrial countries0.20.50.1-0.20.1-0.10.1-0.7-0.2
    United States-0.1-0.30.30.6-0.1-0.7-0.50.1-0.2-0.4-1.6-0.5
    Japan0.30.20.90.60.2-0.3-0.8-0.81.30.90.5
    Germany10.50.30.80.5-0.60.3-0.20.60.8-0.2
    France-0.10.3-0.30.20.90.9-0.20.30.61.4-0.4-0.2
    Italy-0.20.2-0.4-0.73.40.70.70.4-0.9-0.4-0.3
    United Kingdom-0.50.11.01.2-0.70.90.9-0.5-0.4-1.4-0.3
    Canada-0.30.30.6-0.20.41.00.80.90.3-1.60.40.5
    Other advanced economies0.30.4-0.6-0.21.1-0.2-0.10.31.32.20.1
    Memorandum
    Industrial countries0.20.50.10.3-0.1-0.10.1-0.7-0.2
    European Union0.2-0.11.30.30.30.40.4-0.4-0.2
    Euro area0.10.2-0.2-0.21.50.20.20.60.5-0.2-0.2
    Newly industrialized Asian economies1.20.8-2.5-1.4-0.40.7-0.90.40.13.57.90.5

    Data through 1991 apply to west Germany only.

    Changes expressed as percent of GDP in the preceding period.

    Table 4.Advanced Economies: Unemployment, Employment, and Real Per Capita GDP(Percent)
    Ten-Year Averages1
    1980–891990–991990199119921993199419951996199719981999
    Unemployment rate
    Advanced economies6.97.15.96.67.37.77.67.27.37.16.97.0
    Major industrial countries6.96.75.86.57.27.37.26.86.96.76.46.5
    United States2735.85.66.87.56.96.15.65.44.94.54.8
    Japan2.53.02.12.12.22.52.93.13.33.44.14.3
    Germany37.09.06.25.57.78.89.69.410.411.510.910.6
    France9.011.28.99.410.311.612.311.612.412.511.811.2
    Italy49.811.411.010.910.710.211.312.012.112.312.111.8
    United Kingdom9.07.35.88.09.710.39.38.07.35.54.84.9
    Canada9.39.78.110.411.311.210.49.59.79.28.48.4
    Other advanced economies7.28.16.36.87.79.09.08.58.48.18.58.6
    Spain17.920.116.216.318.422.724.222.922.220.819.218.3
    Netherlands7.87.07.06.66.67.78.68.37.66.65.65.3
    Belgium11.111.68.79.310.312.012.912.912.712.612.412.2
    Sweden2.56.21.52.95.38.28.07.78.18.06.76.2
    Austria3.75.84.75.25.36.15.95.96.36.46.46.3
    Denmark8.99.39.410.210.912.112.010.18.67.66.46.2
    Finland4.911.83.26.711.916.516.815.614.612.611.310.1
    Greece7.39.37.07.78.79.79.610.010.310.310.210.0
    Portugal7.85.64.24.14.15.56.87.27.36.75.15.0
    Ireland14.212.513.415.515.515.514.112.211.510.28.98.2
    Luxembourg1.42.71.31.41.62.12.73.03.33.73.94.2
    Switzerland0.63.50.51.12.54.54.74.24.75.24.13.9
    Norway2.74.95.25.55.95.95.44.94.84.13.24.0
    Israel6.18.99.610.611.210.07.86.96.77.79.09.5
    Iceland0.83.51.81.53.04.44.85.14.53.93.33.0
    Korea3.83.42.52.32.42.82.42.02.02.77.08.0
    Australia7.69.07.09.610.810.99.88.58.68.68.18.2
    Taiwan Province of China1.91.91.61.41.51.41.51.82.62.72.62.4
    Hong Kong SAR2.92.81.31.82.02.01.93.22.82.25.05.7
    Singapore3.63.01.71.92.72.72.62.73.02.44.45.7
    New Zealand5.08.27.810.310.39.58.16.36.26.77.88.9
    Memorandum
    Industrial countries7.27.46.26.97.88.28.17.77.77.57.17.1
    European Union9.010.38.18.59.911.111.611.211.311.010.310.0
    Euro area9.411.18.98.910.111.412.312.012.412.511.811.3
    Newly industrialized Asian economies3.22.92.12.02.12.32.12.12.32.65.56.2
    Growth in employment
    Advanced economies1.20.81.60.1-0.1-0.11.11.11.01.30.90.9
    Major industrial countries1.10.71.5-0.11.00.80.71.30.90.5
    United States1.71.21.3-0.90.71.52.31.51.42.21.50.7
    Japan1.10.62.01.91.10.20.10.10.51.1-0.6
    Germany30.4-0.33.01.7-1.9-1.8-0.7-0.4-1.3-1.30.20.1
    France0.10.41.10.2-0.6-1.2-0.11.10.81.41.4
    Italy0.4-0.41.41.4-1.1-4.1-1.7-0.50.40.30.5
    United Kingdom0.60.10.4-3.1-2.4-0.81.80.91.21.61.30.5
    Canada2.01.00.6-1.9-0.61.42.11.61.31.92.51.5
    Other advanced economies1.31.22.00.6-0.1-0.51.32.11.71.60.92.0
    Memorandum
    Industrial countries1.10.71.6-0.1-0.3-0.30.91.00.91.31.10.7
    European Union0.40.21.70.1-1.6-2.0-0.20.60.50.61.20.9
    Euro area0.40.22.11.0-1.4-2.3-0.70.50.30.41.10.9
    Newly Industrialized Asian economies2.51.92.32.31.91.52.82.21.91.8-1.03.0
    Growth in real per capita GDP
    Advanced economies2.21.61.90.41.20.62.51.92.12.51.41.4
    Major industrial countries2.11.41.61.10.42.21.51.92.31.61.3
    United States1.81.40.2-2.01.61.22.51.32.13.02.61.2
    Japan3.11.24.73.40.70.41.33.50.6-2.80.3
    Germany31.71.93.84.21.4-1.92.40.90.92.12.72.5
    France1.81.42.00.40.8-1.72.41.61.21.92.72.5
    Italy2.31.52.00.80.90.21.92.80.51.52.02.4
    United Kingdom2.21.30.1-2.6-0.91.84.03.01.93.12.00.9
    Canada1.70.7-1.2-3.1-0.21.42.81.00.12.62.01.5
    Other advanced economies3.02.43.22.01.81.23.83.63.03.50.81.6
    Memorandum
    Industrial countries2.11.51.71.00.32.21.62.02.41.81.5
    European Union2.11.72.31.00.7-0.72.62.21.42.52.72.4
    Euro area2.01.82.91.91.1-1.12.32.01.32.32.82.7
    Newly industrialized Asian economies6.44.16.16.94.85.36.36.14.85.1-3.8-0.2

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

    The projections for unemployment have been adjusted to reflect the new survey techniques adopted by the U.S. Bureau of Labor Statistics in January 1994.

    Data through 1991 apply to west Germany only.

    New series starting in 1993, reflecting revisions in the labor force surveys and the definition of unemployment to bring data in line with those of other advanced economies.

    Table 5.Developing Countries: Real GDP(Annual percent change)
    Ten-Year Averages
    1980–891990–991990199119921993199419951996199719981999
    Developing countries4.35.34.05.06.66.56.76.16.65.82.33.6
    Regional groups
    Africa2.52.82.31.90.40.72.23.15.83.23.74.7
    Sub-Sahara2.42.82.21.81.41.74.15.34.03.34.7
    Excluding Nigeria and South Africa2.93.21.51.61.22.04.85.84.94.55.6
    Asia7.07.05.66.69.59.39.69.08.26.61.83.9
    Excluding China and India5.14.57.56.56.66.16.77.56.63.8-6.00.5
    Middle East and Europe2.23.85.63.56.53.90.73.84.74.72.32.7
    Western Hemisphere2.23.21.03.83.33.95.21.23.55.12.82.7
    Analytical groups
    By source of export earnings
    Fuel0.83.04.94.86.31.50.22.63.73.50.72.2
    Manufactures6.76.73.65.78.69.39.68.77.76.53.64.1
    Nonfuel primary products2.24.61.63.43.64.64.96.65.75.74.45.2
    Services, income, and private transfers4.43.62.12.62.42.53.24.04.15.04.85.3
    Diversified3.13.85.14.54.54.44.72.55.85.4-0.82.4
    By external financing source
    Net creditor countries0.43.67.25.08.44.01.71.23.52.9-0.42.4
    Net debtor countries4.45.43.95.06.66.66.96.26.75.92.33.6
    Official financing3.53.83.84.03.02.53.43.95.83.44.53.3
    Private financing4.65.93.66.07.87.97.86.36.76.43.23.6
    Diversified financing4.54.54.72.94.94.76.16.96.95.3-0.83.6
    Net debtor countries by debt-servicing experience
    Countries with arrears and/or rescheduling during 1993–972.32.80.72.32.22.63.24.13.84.12.23.2
    Other net debtor countries5.66.35.36.18.38.08.27.07.66.42.43.7
    Other groups
    Heavily indebted poor countries2.73.51.31.21.51.62.35.45.85.34.85.6
    Least developed countries2.84.22.72.42.53.52.86.25.75.74.95.2
    Middle East and north Africa2.03.44.03.75.62.02.42.14.73.42.53.5
    Memorandum
    Real per capita GDP
    Developing countries1.93.32.13.04.04.54.54.24.54.00.72.0
    Regional groups
    Africa-0.60.2-0.5-0.5-2.2-2.0-0.50.73.20.61.22.2
    Asia5.15.43.94.87.77.57.57.46.75.10.62.6
    Middle East and Europe-1.20.63.51.6-0.21.4-3.2-1.72.42.3-0.20.3
    Western Hemisphere1.4-1.01.91.22.03.30.70.73.41.21.0
    Table 6.Developing Countries—by Country: Real GDP1(Annual percent change)
    Average
    1980–8919901991199219911994199519961997
    Africa2.52.31.90.40.72.23.15.83.2
    Algeria1.60.8-1.21.6-2.2-1.13.93.81.3
    Angola2.4-0.50.7-1.0-27.01.411.311.67.6
    Benin1.61.24.74.03.54.45.55.65.3
    Botswana11.47.27.53.02.03.65.16.24.9
    Burkina Faso3.4-1.510.02.5-0.81.24.06.05.5
    Burundi3.43.55.00.7-5.9-3.7-7.3-8.44.4
    Cameroon5.0-6.2-3.8-3.1-3.2-2.53.35.05.1
    Cape Verde3.6-5.1-2.1-2.02.12.45.21.54.6
    Central African Republic2.0-2.9-0.6-6.40.34.96.0-1.55.1
    Chad4.03.210.42.4-1.85.60.93.56.6
    Comoros3.05.1-5.48.53.0-5.3-3.9-0.4
    Congo, Rep. of6.40.92.42.6-1.0-5.52.24.81.3
    Congo, Dem. Rep, of1.6-6.6-8.4-10.5-13.5-3.90.70.9-5.7
    Côte d’Ivoire1.6-1.1-0.2-0.22.07.16.86.0
    Djibouti0.7-0.60.5-0.2-3.9-2.9-4.0-5.11.0
    Equatorial Guinea2.43.3-3.617.07.16.816.237.398.7
    Eritrea-2.59.82.96.87.9
    Ethiopia1.42.7-4.7-5.313.43.56.211.07.0
    Gabon1.15.26.1-3.32.43.47.03.84.1
    Gambia, The2.95.72.24.46.13.8-3.45.30.8
    Ghana1.83.45.33.95.03.84.54.43.0
    Guinea2.94.32.43.54.93.24.43.94.9
    Guinea-Bissau3.44.65.11.12.13.24.44.65.0
    Kenya4.44.21.4-0.80.42.64.43.81.8
    Lesotho4.30.6-7.72.510.18.76.611.06.2
    Liberia-0.9
    Madagascar0.33.1-6.31.22.11.72.13.6
    Malawi1.75.78.7-7.39.7-10.214.79.85.0
    Mali1.80.4-0.98.4-2.42.36.44.06.6
    Mauritania5.1-1.82.61.74.94.24.34.44.5
    Mauritius4.74.76.44.86.74.33.55.05.3
    Morocco3.84.06.9-4.0-1.010.4-7.012.0-2.2
    Mozambique, Rep. of0.51.04.9-8.28.67.54.37.112.4
    Namibia0.15.77.4-2.06.65.13.02.3
    Niger0.6-1.32.4-6.51.44.02.63.34.6
    Nigeria1.57.56.02.62.2-0.62.66.43.9
    Rwanda1.80.4-4.36.6-8.1-49.536.612.010.9
    São Tomé and Príncipe-1.4-2.21.20.71.12.22.01.51.0
    Senegal2.44.5-0.72.8-2.12.04.85.64.7
    Seychelles2.67.52.76.96.5-0.8-0.64.74.3
    Sierra Leone0.61.6-8.0-9.60.13.5-10.05.0
    Somalia1.6
    South Africa2.2-0.3-1.0-2.21.32.73.43.21.7
    Sudan2.61.07.05.02.81.53.54.76.6
    Swaziland4.99.72.54.07.33.42.52.53.0
    Tanzania2.95.44.51.30.91.42.64.13.9
    Togo1.3-0.2-0.7-4.0-16.416.86.89.14.1
    Tunisia3.47.13.99.72.23.32.46.95.6
    Uganda2.66.56.94.67.66.711.58.94.2
    Zambia1.4-0.5-1.76.8-8.6-4.36.43.5
    Zimbabwe4.87.05.5-9.01.36.80.17.33.7
    Asia7.05.66.69.59.39.69.08.26.6
    Afghanistan, Islamic State of-2.0-2.60.81.0-3.1-3.026.26.06.0
    Bangladesh4.04.94.14.84.24.75.35.45.7
    Bhutan7.55.93.94.45.05.16.96.05.7
    Brunei Darussalam2.74.0-1.10.51.82.02.83.5
    Cambodia1.27.67.04.14.07.67.02.0
    China9.53.89.214.213.512.610.59.68.8
    Fiji2.03.21.54.83.54.22.43.33.6
    India6.05.91.74.25.06.97.97.55.6
    Indonesia5.39.08.97.27.37.58.28.04.6
    Kiribati-5.0-3.22.8-1.60.91.83.22.02.5
    Lao P.D. Republic5.96.74.07.05.98.17.06.86.5
    Malaysia5.89.68.67.88.39.29.58.67.8
    Maldives10.416.27.66.36.26.67.26.56.2
    Marshall Islands3.20.10.15.42.7-1.9-13.1-5.3
    Micronesia, Fed. States of-2.74.3-1.25.7-0.91.3-0.5-3.8
    Myanmar1.82.8-0.79.75.96.87.27.07.0
    Nepal3.56.44.63.37.92.95.43.84.5
    Pakistan6.44.55.57.81.93.95.25.21.3
    Papua New Guinea1.6-3.09.511.816.64.4-2.93.5-5.4
    Philippines1.93.0-0.60.32.14.44.85.75.1
    Samoa0.2-9.4-2.3-0.24.1-6.59.65.84.1
    Solomon Islands0.81.03.09.52.05.27.70.6-0.5
    Sri Lanka4.26.24.64.36.95.65.53.86.4
    Thailand7.311.68.18.28.58.68.85.5-0.4
    Tonga1.8-2.06.40.33.75.04.8-1.4-4.4
    Vanuatu2.35.24.3-0.74.51.33.83.52.7
    Vietnam5.04.96.08.68.18.89.59.38.8
    Middle East and Europe2.25.63.56.53.90.73.84.74.7
    Bahrain2.44.64.67.88.32.42.23.13.1
    Cyprus6.07.30.49.70.75.85.62.02.3
    Egypt6.02.41.20.30.52.73.24.35.0
    Iran, Islamic Republic of0.411.210.66.12.10.93.14.83.2
    Iraq-0.2-26.0-62.929.2-6.710.0
    Jordan3.11.91.816.15.68.55.90.82.2
    Kuwait-1.9-26.2-41.077.434.28.41.00.91.6
    Lebanon-4.3-13.438.24.57.08.06.54.04.0
    Libya-2.38.212.0-4.20.1-0.9-1.12.02.6
    Malta4.06.36.34.74.54.09.03.73.7
    Oman8.38.46.08.56.11.84.83.53.6
    Qatar-0.4-14.8-0.49.3-0.42.3-1.110.015.5
    Saudi Arabia1.410.78.42.8-0.60.50.51.41.9
    Syrian Arab Republic2.67.67.110.66.77.63.65.55.0
    Turkey4.29.20.85.07.7-4.78.16.97.5
    United Arab Emirates-1.117.50.22.7-0.92.26.19.53.0
    Yemen, Republic of0.34.92.9-0.58.25.25.5
    Western Hemisphere2.21.03.83.33.95.21.23.55.1
    Antigua and Barbuda6.72.32.70.45.56.2-5.05.13.3
    Argentina-1.0-1.310.510.36.38.5-5.84.88.6
    Bahamas, The3.41.2-2.7-2.01.70.90.34.23.0
    Barbados1.7-3.3-3.9-5.70.84.02.95.24.7
    Belize4.310.23.19.53.31.83.32.03.5
    Bolivia-0.24.65.31.64.34.74.74.74.2
    Brazil2.8-3.71.0-0.54.95.94.22.83.2
    Chile3.53.78.012.37.05.710.67.47.1
    Colombia3.44.32.04.05.45.85.82.13.1
    Costa Rica2.53.62.37.76.34.52.4-0.63.2
    Dominica7.55.30.72.10.81.81.43.31.8
    Dominican Republic3.6-5.81.08.03.04.34.87.38.1
    Ecuador2.33.05.03.62.04.42.32.03.4
    EI Salvador-1.24.93.67.47.46.06.32.04.0
    Grenada5.05.23.61.1-1.23.33.13.53.6
    Guatemala0.93.13.74.83.94.04.93.04.1
    Guyana-2.1-2.56.17.88.28.65.07.96.1
    Haiti0.20.24.8-13.2-2.4-8.34.42.71.1
    Honduras2.50.13.35.66.2-1.44.33.74.9
    Jamaica2.24.10.81.81.31.0-1.9-1.4
    Mexico2.35.14.23.62.04.4-6.25.27.0
    Netherlands Antilles0.61.51.83.70.32.4-2.43.0
    Nicaragua-0.9-0.1-0.20.4-0.23.34.24.54.5
    Panama1.88.19.48.25.52.91.82.44.4
    Paraguay3.73.12.51.84.13.14.71.33.5
    Peru-3.22.9-1.66.413.17.32.57.2
    St. Kitts and Nevis5.63.03.93.57.04.83.96.37.0
    St. Lucia6.34.12.37.12.12.24.13.73.5
    St. Vincent and the Grenadines6.25.00.67.50.2-2.47.61.62.1
    Suriname-1.50.12.94.0-9.5-5.47.16.75.6
    Trinidad and Tobago-2.91.52.7-1.7-1.43.63.83.53.2
    Uruguay1.00.93.27.93.06.3-1.85.35.1
    Venezuela0.16.59.76.10.3-2.43.7-0.45.1

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

    Table 7.Countries in Transition: Real GDP1(Annual percent change)
    Average
    1980–8919901991199219931994199519961997
    Central and eastern Europe-10.0-8.7-3.8-2.81.61.62.8
    Albania2.5-10.0-28.0-7.29.69.48.99.1-7.0
    Belarus-1.2-9.7-7.6-12.6-10.42.810.4
    Bulgaria3.6-9.1-11.7-7.3-1.51.82.1-10.9-6.9
    Croatia-8.05.86.86.06.5
    Czech Republic0.62.76.43.91.0
    Czechoslovakia, former2.5-0.4-15.9-8.5
    Estonia-7.9-21.6-8.2-1.84.34.010.9
    Hungary1.5-3.5-11.9-3.1-0.62.91.51.34.4
    Latvia-11.1-35.2-16.12.10.33.36.5
    Lithuania-5.7-21.3-16.2-9.83.34.75.7
    Macedonia, former Yugoslav Rep. of-9.1-1.8-1.20.81.5
    Moldova-17.5-29.7-1.2-31.2-1.4-7.81.3
    Poland-7.2-7.02.63.85.27.06.16.9
    Romania1.7-7.7-12.9-8.81.53.96.93.9-6.6
    Slovak Republic-3.74.96.96.66.5
    Slovenia2.85.34.13.13.8
    Ukraine-10.6-17.0-14.2-22.9-12.2-10.0-3.2
    Yugoslavia, former0.7-7.5-17.0-34.0
    Russia-5.4-19.4-10.4-11.6-4.8-5.00.9
    Transcaucasus and central Asia-7.0-14.4-10.1-10.3-4.31.62.1
    Armenia-12.4-52.6-14.15.46.95.83.1
    Azerbaijan-0.7-22.6-23.1-19.7-11.81.35.8
    Georgia-20.6-44.8-25.4-11.42.410.511.0
    Kazakhstan-11.0-5.3-10.6-12.6-8.20.52.0
    Kyrgyz Republic-7.9-13.9-15.5-20.1-5.47.16.5
    Mongolia6.6-5.6-9.2-9.5-3.02.36.32.63.0
    Tajikistan-7.1-28.9-11.1-21.4-12.5-4.41.7
    Turkmenistan-4.7-5.3-10.0-18.8-8.2-7.7-25.9
    Uzbekistan-0.5-11.1-2.3-4.2-0.91.62.4

    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 or of the informal economy is not fully reflected in the recent figures.

    Table 8.Summary of Inflation(Percent)
    Ten-Year Averages
    1980–891990–991990199119921993199419951996199719981999
    GDP deflators
    Advanced economies6.12.64.54.53.32.82.22.31.91.71.61.5
    United States5.02.54.34.02.82.62.42.51.91.91.22.0
    European Union7.23.25.35.44.53.72.62.92.41.71.81.8
    Japan2.20.62.32.71.70.60.2-0.6-0.50.60.4-1.0
    Other advanced economies11.23.45.65.43.53.43.03.32.82.13.11.8
    Consumer prices
    Advanced economies6.32.95.24.73.53.12.62.52.42.11.71.7
    United States5.53.05.44.23.03.02.62.82.92.31.62.3
    European Union7.03.25.45.14.43.83.02.92.51.91.71.8
    Japan2.51.23.13.31.71.20.7-0.10.11.70.4-0.5
    Other advanced economies11.33.96.36.54.13.53.43.63.32.83.32.4
    Developing countries35.929.268.236.538.747.251.622.314.19.110.38.3
    Regional groups
    Africa15.022.316.024.732.430.537.534.126.711.07.77.1
    Asia8.88.97.08.27.211.015.912.87.94.78.37.0
    Middle East and Europe19.525.022.427.525.624.631.935.924.622.622.613.7
    Western Hemisphere116.791.6438.4129.0151.4208.5208.335.920.813.910.89.4
    Analytical groups
    By source of export earnings
    Fuel13.323.014.321.322.826.132.442.730.714.915.113.5
    Nonfuel40.330.177.738.741.050.254.120.112.48.59.87.7
    By external financing source
    Net creditor countries2.63.23.96.13.24.23.45.02.31.21.11.7
    Net debtor countries37.430.171.237.740.149.053.522.814.59.410.68.4
    Official financing18.017.918.225.722.422.327.322.316.510.07.48.9
    Private financing53.740.0117.149.856.671.678.026.615.710.17.86.7
    Diversified financing12.412.813.316.011.611.511.713.510.57.319.713.1
    Net debtor countries by debt-servicing experience
    Countries with arrears and/or rescheduling during 1993–9769.586.2273.9111.7152.8216.0233.243.022.212.510.79.4
    Other net debtor countries23.713.522.415.511.613.217.116.612.18.410.58.1
    Countries in transition8.6128.038.695.8656.6609.3268.4124.141.427.929.534.6
    Central and eastern Europe95.4283.1357.7153.375.332.438.218.314.7
    Excluding Belarus and Ukraine98.9103.879.945.125.123.440.716.710.2
    Russia92.71,353.0895.9302.0190.147.814.748.473.2
    Transcaucasus and central Asia110.9945.31,224.21,667.7183.668.731.020.611.7
    Memorandum
    Median inflation rate
    Advanced economies6.92.85.44.03.23.02.42.42.21.81.92.0
    Developing countries9.88.510.411.89.89.510.610.07.35.95.04.7
    Countries in transition1.2165.77.8101.4839.5472.2131.646.024.114.911.38.6
    Table 9.Advanced Economies: GDP Deflators and Consumer Prices(Annual percent change)
    Ten-Year AveragesFourth Quarter1
    1980–891990–991990199119921993199419951996199719981999199719981999
    GDP deflators
    Advanced economies6.12.64.54.53.32.82.22.31.91.71.61.5
    Major industrial countries5.32.34.14.13.02.51.91.91.61.51.21.31.41.21.4
    United States5.02.54.34.02.82.62.42.31.91.91.22.01.71.42.1
    Japan2.20.62.32.71.70.60.2-0.6-0.50.60.4-1.00.9-0.2-0.7
    Germany23.02.53.23.95.64.02.42.21.00.61.01.30.51.21.7
    France7.11.93.13.32.12.51.51.61.20.91.11.41.01.41.4
    Italy11.74.47.67.74.74.43.55.15.02.62.31.72.61.61.8
    United Kingdom7.53.66.46.54.63.21.62.43.12.52.62.52.12.72.3
    Canada5.81.53.12.71.31.21.22.61.40.51.0-0.30.31.1
    Other advanced economies10.23.96.56.34.74.13.53.52.92.43.22.1
    Spain10.04.47.37.16.94.34.04.83.12.22.12.4
    Netherlands1.22.12.32.72.31.92.31.71.72.02.42.3
    Belgium4.72.53.13.23.64.22.31.71.61.42.01.7
    Sweden7.42.98.87.61.02.62.53.71.01.20.70.1
    Austria4.12.53.43.74.32.82.82.12.11.41.41.4
    Denmark6.42.23.42.52.20.92.41.81.82.02.22.8
    Finland7.42.35.72.60.72.41.32.40.82.22.22.3
    Greece17.911.320.619.814.814.511.39.88.16.94.93.4
    Portugal18.76.512.412.310.67.16.14.82.63.13.32.9
    Ireland8.61.9-0.81.72.54.41.20.41.72.32.42.9
    Luxembourg3.41.92.22.22.90.95.51.0-0.42.41.21.4
    Switzerland3.82.04.26.02.72.71.51.20.4-0.20.50.9
    Norway7.12.13.92.4-0.42.1-0.23.14.12.83.5
    Israel105.511.216.720.712.012.312.78.611.39.04.84.5
    Iceland36.54.916.97.83.62.52.02.71.92.85.83.4
    Korea8.46.09.910.16.15.15.55.63.42.49.52.7
    Australia8.32.24.82.11.41.40.92.62.22.01.63.3
    Taiwan Province of China4.22.73.83.83.93.51.91.92.71.81.81.9
    Hong Kong SAR8.95.47.59.29.78.56.92.65.96.72.7-4.5
    Singapore3.62.84.93.70.95.53.82.71.41.51.82.0
    New Zealand11.61.93.91.01.72.61.72.52.00.21.71.9
    Memorandum
    Industrial countries5.62.54.44.33.22.62.02.11.71.61.31.5
    European Union7.23.25.35.44.53.72.62.92.41.71.81.8
    Euro area7.03.04.74.94.43.72.72.92.21.51.61.7
    Newly industrialized Asian economies6.84.77.37.65.65.14.43.93.42.75.71.5
    Consumer prices
    Advanced economies6.32.95.24.73.53.12.62.52.42.11.71.7
    Major industrial countries5.52.74.84.33.22.82.22.32.22.01.41.61.91.31.6
    United States5.53.05.44.23.03.02.62.82.92.31.62.31.91.82.3
    Japan2.51.23.13.31.71.20.7-0.10.11.70.4-0.52.2-0.6-0.3
    Germany2,32.92.52.73.54.74.42.71.81.51.81.01.41.90.81.4
    France7.32.03.43.22.42.11.71.82.01.21.11.31.21.41.0
    Italy11.24.16.56.35.34.64.15.23.91.71.81.71.61.81.8
    United Kingdom47.03.98.16.84.73.02.42.82.92.82.82.82.82.82.8
    Canada6.52.24.85.61.51.80.22.21.61.41.31.91.21.91.8
    Other advanced economies10.14.16.76.34.94.14.13.63.32.63.02.3
    Memorandum
    Industrial countries5.82.85.04.53.32.92.32.42.32.01.51.7
    European Union7.03.25.45.14.43.83.02.92.51.91.71.8
    Euro area6.93.04.44.44.31.83.02.92.41.71.41.6
    Newly industrialized Asian economies6.75.17.07.55.94.65.64.64.33.75.32.4

    From fourth quarter of preceding year.

    Data through 1991 apply to west Germany only.

    Based on the revised consumer price index for united Germany introduced in September 1995.

    Retail price index excluding mortgage interest.

    Table 10.Advanced Economies: Hourly Earnings, Productivity, and Unit Labor Costs in Manufacturing(Annual percent change)
    Ten-Year Averages
    1980–891990–991990199119921993199419951996199719981999
    Hourly earnings
    Advanced economies6.44.36.66.05.93.93.43.33.23.93.62.8
    Major industrial countries5.33.85.85.35.33.52.92.92.83.53.42.6
    United States2.83.74.75.34.33.02.82.42.14.04.63.7
    Japan4.02.96.55.94.62.62.72.51.73.20.9-1.5
    Germany15.13.75.7-0.39.66.71.94.14.31.11.72.7
    France8.93.64.85.44.63.53.71.62.53.33.53.1
    Italy13.75.48.79.46.64.22.65.45.35.02.83.8
    United Kingdom10.15.69.48.26.64.55.04.54.44.45.14.1
    Canada4.52.75.24.73.52.11.61.43.20.92.22.1
    Other advanced economies11.66.310.29.08.55.85.95.15.15.94.63.6
    Memorandum
    Industrial countries5.93.96.15.55.43.63.03.02.93.53.42.8
    European Union9.04.67.35.87.05.03.54.04.03.33.33.5
    Euro area8.84.36.65.27.15.13.03.73.72.92.83.3
    Newly industrialized Asian economies11.710.718.714.916.29.211.37.88.911.16.92.7
    Productivity
    Advanced economies2.33.02.41.93.52.35.04.03.44.31.81.7
    Major industrial countries2.02.92.41.73.51.84.63.93.44.21.81.7
    United States0.43.32.32.15.22.13.24.14.54.03.42.5
    Japan3.01.02.81.5-3.7-0.73.44.83.74.9-4.1-1.9
    Germany12.64.63.50.45.92.88.54.25.26.94.84.0
    France4.13.71.51.34.29.03.92.86.64.33.3
    Italy4.02.71.41.33.91.96.05.9-0.42.81.82.3
    United Kingdom3.92.22.62.96.35.04.80.7-0.91.1-0.10.3
    Canada0.71.53.30.64.34.22.60.20.4-0.2-0.90.4
    Other advanced economies3.43.62.32.93.64.56.94.43.44.92.11.5
    Memorandum
    Industrial countries2.22.82.21.63.32.14.93.83.14.01.81.7
    European Union3.73.31.91.44.43.07.53.81.94.32.92.5
    Euro area3.83.61.91.14.02.58.24.42.44.93.63.0
    Newly industrialized Asian economies5.86.88.38.58.06.57.68.78.610.21.41.0
    Unit labor costs
    Advanced economies4.11.24.14.02.31.6-1.5-0.7-0.2-0.41.81.1
    Major industrial countries3.20.93.33.61.81.7-1.6-1.0-0.6-0.71.70.9
    United States2.30.32.43.1-0.80.8-0.4-1.6-2.31.21.1
    Japan1.01.93.64.38.63.3-0.7-2.2-1.9-1.65.20.5
    Germany12.4-0.82.1-0.73.53.9-6.0-0.1-0.8-5.4-3.0-1.3
    France4.6-0.13.34.00.33.6-4.9-2.3-0.3-3.1-0.8-0.2
    Italy9.32.67.28.02.62.2-3.2-0.45.82.21.11.4
    United Kingdom6.03.36.65.20.3-0.50.23.85.43.35.23.7
    Canada3.71.21.84.1-0.8-2.0-1.01.32.71.13.11.7
    Other advanced economies8.02.47.65.74.31.2-1.10.41.50.82.31.9
    Memorandum
    Industrial countries3.51.13.83.92.11.6-1.7-0.7-0.2-0.41.61.1
    European Union5.21.35.34.42.62.0-3.70.22.1-0.80.41.0
    Euro area4.90.84.74.03.02.6-4.8-0.71.3-1.8-0.70.3
    Newly industrialized Asian economies4.62.78.74.95.61.92.1-1.7-0.40.44.51.2

    Data through 1991 apply to west Germany only.

    Table 11.Developing Countries: Consumer Prices(Annual percent change)
    Ten-Year Averages
    1980–891990–991990199119921993199419951996199719981999
    Developing countries35.932.568.236.538.747.251.622.314.19.110.38.3
    Regional groups
    Africa15.018.616.024.732.430.537.534.126.711.07.77.1
    Sub-Sahara17.522.017.627.838.238.146.940.933.413.89.28.4
    Excluding Nigeria and South Africa18.325.422.138.146.444.260.645.345.617.410.38.9
    Asia8.88.97.08.27.211.015.912.87.94.78.37.0
    Excluding China and India9.610.09.711.06.87.87.98.67.66.724.215.7
    Middle East and Europe19.522.222.427.525.624.631.935.924.622.622.613.7
    Western Hemisphere116.7103.8438.4129.0151.4208.5208.335.920.813.910.89.4
    Analytical groups
    By source of export earnings
    Fuel13.318.114.321.322.826.132.442.730.714.915.113.5
    Manufactures40.438.299.042.357.779.885.419.48.24.73.14.3
    Nonfuel primary products50.143.6147.283.344.134.237.424.722.612.78.36.8
    Services, income, and private transfers16.714.622.021.319.313.514.112.89.25.94.14.5
    Diversified41.931.947.429.018.916.016.521.619.716.426.716.1
    By external financing source
    Net creditor countries2.62.93.96.13.24.23.45.02.31.21.11.7
    Net debtor countries37.433.771.237.740.149.053.522.814.59.410.68.4
    Official financing18.018.018.225.722.422.327.322.316.510.07.48.9
    Private financing53.746.7117.149.856.671.678.026.615.710.17.86.7
    Diversified financing12.412.613.316.011.611.511.713.510.57.319.713.1
    Net debtor countries by debt-servicing experience
    Countries with arrears and/or rescheduling during 1993–9769.577.7273.9111.7152.8216.0233.243.022.212.510.79.4
    Other net debtor countries23.718.522.415.511.613.217.116.612.18.410.58.1
    Other groups
    Heavily indebted poor countries27.831.133.052.645.843.957.744.842.616.29.89.0
    Least developed countries17.821.026.639.937.029.839.125.222.411.58.38.4
    Middle East and north Africa12.813.815.020.118.216.118.723.013.68.48.68.0
    Memorandum
    Median
    Developing countries9.88.510.411.89.89.510.610.07.35.95.04.7
    Regional groups
    Africa10.310.310.110.510.19.524.812.48.07.85.24.5
    Asia8.77.99.211.98.88.77.28.17.25.36.06.3
    Middle East and Europe6.45.79.89.06.95.04.75.06.53.63.33.3
    Western Hemisphere13.011.123.322.712.110.78.310.27.17.25.04.6
    Table 12.Developing Countries—by Country: Consumer Prices1(Annual percent change)
    Average
    1980–8919901991199219931994199519961997
    Africa15.016.024.732.430.537.534.126.711.0
    Algeria9.016.725.931.720.529.029.818.75.7
    Angola5.61.883.6299.11,379.5949.82,671.64,147.0111.3
    Benin2.21.12.15.90.538.614.94.73.8
    Botswana11.811.411.816.214.310.510.510.19.3
    Burkina Faso4.9-0.52.2-2.01.024.77.86.12.3
    Burundi7.07.09.04.59.714.719.426.425.8
    Cameroon7.61.5-0.61.9-3.712.730.96.44.2
    Cape Verde12.510.68.07.05.94.37.77.38.1
    Central African Republic5.8-0.2-2.8-0.8-2.924.519.24.40.6
    Chad4.60.54.2-3.8-7.041.39.511.35.6
    Comoros5.3-7.41.7-1.42.025.37.11.41.0
    Congo, Rep. of7.12.6-1.6-3.94.942.98.610.28.3
    Congo, Dem. Rep. of57.581.32,154.44,129.21,893.123,760.5541.8616.8198.5
    Côte d’Ivoire5.8-0.71.64.22.126.014.32.75.6
    Djibouti5.07.86.83.44.46.54.94.03.0
    Equatorial Guinea18.30.70.91.01.638.911.46.03.0
    Eritrea4.611.610.79.31.3
    Ethiopia5.05.220.823.010.11.213.40.9-6.4
    Gabon6.15.73.3-10.80.636.110.04.52.5
    Gambia, The16.610.29.112.05.94.04.04.82.1
    Ghana44.337.218.010.124.924.959.545.627.9
    Guinea33.319.419.616.66.74.75.53.01.9
    Guinea-Bissau57.733.057.669.448.215.245.450.749.1
    Kenya11.411.219.627.445.928.81.59.011.2
    Lesotho14.211.517.917.013.87.29.99.18.4
    Liberia7.3
    Madagascar18.311.88.515.39.239.149.019.84.5
    Malawi16.811.98.223.222.834.783.137.79.1
    Mali3.81.61.5-5.9-0.624.812.46.4
    Mauritania8.46.45.610.19.34.16.53.03.0
    Mauritius11.210.712.82.98.99.46.15.87.9
    Morocco7.57.08.05.75.25.16.13.01.0
    Mozambique, Rep. of36.743.733.345.142.363.154.444.66.4
    Namibia13.112.011.917.78.510.810.08.07.8
    Niger3.8-2.0-1.9-1.7-0.435.610.95.33.0
    Nigeria19.87.413.044.657.257.072.829.38.5
    Rwanda4.64.219.69.512.564.022.08.912.0
    São Tomé and Príncipe13.842.246.533.725.551.236.835.571.3
    Senegal6.70.3-1.8-0.1-0.632.18.52.81.8
    Seychelles3.93.92.03.21.31.8-0.3-1.10.6
    Sierra Leone57.7110.9102.765.517.618.429.823.1
    Somalia52.4
    South Africa14.614.415.213.99.79.08.67.48.6
    Sudan210.765.2123.6117.6101.3115.568.4132.846.7
    Swaziland13.413.611.08.211.313.812.38.08.0
    Tanzania30.530.431.724.823.830.234.025.717.1
    Togo4.81.10.21.6-0.135.315.84.68.1
    Tunisia8.76.58.25.84.04.76.23.83.7
    Uganda115.945.432.942.218.26.56.17.57.8
    Zambia36.6109.697.7165.7183.354.634.943.124.4
    Zimbabwe12.917.423.342.127.622.322.621.419.0
    Asia8.87.08.27.211.015.912.87.94.7
    Afghanistan, Islamic State of21.6157.8166.058.234.020.014.014.014.0
    Bangladesh11.26.06.33.53.16.37.74.54.8
    Bhutan9.49.413.316.08.98.110.77.07.0
    Brunei Darussalam2.11.61.34.32.46.02.01.7
    Cambodia141.8182.293.8152.2-4.17.37.37.9
    China7.23.13.66.414.624.316.78.42.8
    Fiji7.411.96.18.26.54.95.20.6
    India9.19.913.09.88.410.010.26.96.3
    Indonesia9.67.89.47.59.78.59.47.96.6
    Kiribati6.73.85.74.06.15.23.6-0.64.0
    Lao P.D. Republic54.335.713.49.86.36.819.413.019.3
    Malaysia3.62.82.64.73.53.73.43.52.7
    Maldives7.03.614.716.820.13.45.56.27.2
    Marshall Islands0.74.010.35.05.68.39.64.8
    Micronesia, Fed. States of3.54.05.06.04.04.04.03.0
    Myanmar10.121.929.122.333.622.428.920.010.0
    Nepal8.59.821.08.98.97.68.19.07.5
    Pakistan7.29.111.63.69.611.812.110.312.5
    Papua New Guinea6.37.07.04.35.02.917.311.63.9
    Philippines14.112.718.78.97.69.18.18.46.0
    Samoa13.215.28.51.718.41.07.03.53.5
    Solomon Islands11.88.610.89.29.213.39.612.18.1
    Sri Lanka12.621.512.211.411.78.47.715.99.6
    Thailand5.76.05.74.13.45.15.85.95.6
    Tonga9.05.613.58.73.12.40.32.81.8
    Vanuatu8.75.06.54.13.62.32.20.92.8
    Vietnam124.167.084.437.88.39.417.05.83.2
    Middle East and Europe19.522.427.525.624.631.935.924.622.6
    Bahrain2.11.31.02.10.43.1-0.21.0
    Cyprus5.74.55.06.54.94.72.63.03.6
    Egypt17.321.219.521.111.29.09.47.26.2
    Iran, Islamic Republic of19.69.020.724.422.935.249.423.116.9
    Iraq18.550.0263.812.868.044.7208.434.545.0
    Jordan6.816.18.24.03.33.52.46.53.0
    Kuwait3.69.89.1-0.50.42.52.73.60.8
    Lebanon68.988.950.199.824.78.010.68.98.5
    Libya7.78.611.718.023.017.010.07.06.0
    Malta3.43.02.61.64.14.24.02.52.5
    Oman1.810.04.61.01.1-0.7-1.10.3-0.2
    Qatar4.03.04.43.1-0.91.33.02.52.6
    Saudi Arabia2.14.6-0.40.80.65.00.9-0.4
    Syrian Arab Republic22.611.19.011.013.215.37.78.72.5
    Turkey49.660.366.070.166.1106.393.682.385.7
    United Arab Emirates5.10.65.56.95.03.94.43.64.4
    Yemen, Republic of44.950.662.371.862.527.36.3
    Western Hemisphere116.7438.4129.0151.4208.5208.335.920.813.9
    Antigua and Barbuda5.66.54.63.03.13.52.73.51.2
    Argentina318.92,314.7171.724.910.64.23.40.20.8
    Bahamas, The6.24.67.15.72.71.32.11.41.2
    Barbados7.23.06.36.01.2-0.12.42.47.7
    Belize4.53.03.22.41.42.52.96.31.0
    Bolivia230.217.121.412.18.57.910.212.44.7
    Brazil237.32,740.0413.3991.42,103.32,123.759.611.17.9
    Chile21.226.021.815.412.711.48.27.46.1
    Colombia23.329.130.327.122.522.820.920.818.5
    Costa Rica24.119.028.721.89.813.523.217.513.2
    Dominica7.33.15.65.31.61.31.72.4
    Dominican Republic21.750.547.14.35.38.312.55.48.3
    Ecuador32.148.448.854.645.027.322.724.430.6
    El Salvador18.424.014.411.218.510.610.19.84.6
    Grenada6.82.82.63.82.82.62.22.81.1
    Guatemala12.441.635.110.213.412.58.411.09.2
    Guyana26.263.6101.528.211.713.612.37.13.6
    Haiti7.620.419.021.318.837.430.221.916.2
    Honduras7.523.334.08.810.721.729.523.820.2
    Jamaica16.924.868.657.524.333.221.721.59.1
    Mexico65.126.722.715.59.87.035.034.420.6
    Netherlands Antilles4.83.73.81.51.91.92.73.53.5
    Nicaragua380.03,127.57,755.340.520.47.711.26.85.7
    Panama2.90.50.81.61.01.30.82.3-0.5
    Paraguay20.338.124.215.218.220.513.49.88.3
    Peru193.67,481.6409.573.548.623.711.111.58.5
    St. Kitts and Nevis4.64.24.22.91.81.43.02.08.9
    St. Lucia5.43.86.25.60.82.65.93.33.0
    St. Vincent and the Grenadines6.07.25.93.84.20.42.44.40.5
    Suriname12.121.826.043.7143.4368.5235.5-0.87.2
    Trinidad and Tobago11.811.03.86.513.13.75.33.33.7
    Uruguay56.5112.5101.868.554.244.742.228.319.8
    Venezuela21.540.734.231.438.160.859.999.950.0

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

    The figures published in the May 1998 World Economic Outlook were end-of-period data.

    Table 13.Countries in Transition: Consumer Prices1(Annual percent change)
    Average
    1980–8919901991199219931994199519961997
    Central and eastern Europe95.4283.1357.7153.375.332.438.2
    Albania35.8225.285.022.67.812.733.2
    Belarus83.5969.01,190.02,220.0709.052.764.0
    Bulgaria2.523.9333.582.072.896.062.1123.01,082.2
    Croatia1,516.097.52.03.53.6
    Czech Republic20.810.09.18.88.4
    Czechoslovakia, former1.510.859.011.0
    Estonia210.61,069.089.047.728.923.111.3
    Hungary8.928.634.822.822.418.828.323.518.3
    Latvia124.4951.3109.135.825.117.68.4
    Lithuania224.71,021.0410.472.139.524.78.8
    Macedonia, former Yugoslav Rep. of338.6126.416.22.11.5
    Moldova162.01,276.0788.5329.630.223.511.8
    Poland43.0585.870.343.035.332.227.919.915.1
    Romania2.9127.9161.1210.4256.1136.732.338.8151.6
    Slovak Republic23.013.49.95.86.1
    Slovenia31.919.812.69.79.1
    Ukraine91.21,210.04,734.9891.2376.480.215.9
    Yugoslavia, former107.6583.1117.46,146.6
    Russia92.71,353.0895.9302.0190.147.814.7
    Transcaucasus and central Asia110.9945.31,224.21,667.7183.668.731.0
    Armenia100.3824.53,731.85,273.4176.718.714.0
    Azerbaijan105.6912.61,129.71,664.4411.719.83.5
    Georgia78.5887.43,125.415,606.5162.739.47.1
    Kazakhstan91.01,515.71,662.31,879.9176.339.117.4
    Kyrgyz Republic85.0854.6772.4228.752.530.425.6
    Mongolia0.220.2202.6268.487.656.849.336.9
    Tajikistan111.61,156.72,194.9350.4610.0418.088.0
    Turkmenistan102.5492.93,102.41,748.01,005.0992.084.0
    Uzbekistan169.0645.2534.01,568.0116.964.450.0

    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.

    Table 14.Summary Financial Indicators(Percent)
    1990199119921993199419951996199719981999
    Advanced economies
    Central government fiscal balance1
    Advanced economies-2.5-3.0-4.0-4.2-3.5-3.2-2.6-1.3-1.2-1.1
    United States-3.0-3.5-4.7-3.9-2.7-2.3-1.4-0.30.60.7
    European Union-3.5-3.8-4.8-6.0-5.3-4.5-4.0-2.2-1.7-1.5
    Japan-0.5-0.2-1.7-2.7-3.5-4.1-4.3-3.6-4.8-5.1
    Other advanced economies-0.6-1.9-2.2-2.0-1.2-0.8-0.20.9-1.0-1.1
    General government fiscal balance1
    Advanced economies-2.0-2.7-3.6-4.1-3.4-3.2-2.5-1.1-1.2-1.2
    United States-2.7-3.3-4.4-3.6-2.3-1.9-0.90.21.11.2
    European Union-3.6-4.3-5.1-6.3-5.7-5.2-4.2-2.4-1.8-1.6
    Japan2.92.91.5-1.6-2.3-3.6-4.3-3.1-5.7-7.0
    Other advanced economies-0.9-2.4-2.9-2.3-1.5-0.9-0.10.9-1.1-1.1
    General government structural balance2
    Advanced economies-3.0-2.8-3.2-3.0-2.5-2.5-1.8-0.6-0.5-0.4
    Growth of broad money
    Advanced economies8.25.93.13.92.54.44.95.0
    United States4.13.11.81.30.63.94.65.7
    European Union11.69.84.65.92.24.45.64.6
    Japan7.42.3-0.22.22.83.32.93.9
    Other advanced economies11.98.88.17.89.28.08.56.2
    Short-term interest rates3
    United States7.55.43.43.14.45.75.15.25.15.1
    Japan6.97.04.12.71.91.00.30.30.30.3
    Germany8.49.29.57.25.34.53.33.33.63.6
    LIBOR8.46.13.93.45.16.15.65.85.75.9
    Developing countries
    Central government fiscal balance1
    Weighted average-3.1-3.4-2.9-3.2-2.7-2.5-2.3-2.3-3.4-2.9
    Median-4.0-3.9-3.9-4.1-3.8-3.4-3.0-2.4-2.7-2.5
    General government fiscal balance1
    Weighted average-3.8-3.8-3.4-3.6-3.3-3.2-2.9-3.0-3.5-3.1
    Median-4.0-3.8-3.9-4.2-3.8-3.5-3.2-2.4-2.7-2.3
    Growth of broad money
    Weighted average92.473.084.791.870.524.422.419.517.313.8
    Median18.118.617.616.418.516.614.113.811.210.5
    Countries in transition
    Central government fiscal balance1-4.2-9.2-10.7-5.9-7.2-3.9-4.9-4.5-3.8-2.6
    General government fiscal balance1-4.3-9.6-15.7-6.9-7.0-4.5-5.6-5.0-5.3-3.3
    Growth of broad money21.7100.6429.9451.0185.272.931.227.09.617.5

    In percent of GDP.

    In percent of potential GDP.

    For the United States, three-month treasury bills; for Japan, three-month certificates of deposit; for Germany, three-month interbank deposits; for LIBOR, London interbank offered rate on six-month U.S. dollar deposits.

    Table 15.Advanced Economies: General and Central Government Fiscal Balances and Balances Excluding Social Security Transactions1(Percent of GDP)
    1990199119921993199419951996199719981999
    General government fiscal balance
    Advanced economies-2.0-2.7-3.6-4.1-3.4-3.2-2.5-1.1-1.2-1.2
    Major industrial countries-2.1-2.7-3.8-4.2-3.5-3.4-2.7-1.2-1.1-1.2
    United States-2.7-3.3-4.4-3.6-2.3-1.9-0.90.21.11.2
    Japan2.92.91.5-1.6-2.3-3.6-4.3-3.1-5.7-7.0
    Germany2-2.0-3.3-2.8-3.2-2.4-3.3-3.4-2.7-2.6-2.3
    France3-1.6-2.0-3.8-5.6-5.7-4.9-4.1-3.0-2.9-2.3
    Italy-11.1-10.1-9.6-9.5-9.2-7.7-6.7-2.7-2.6-2.3
    United Kingdom4-1.2-2.6-6.3-7.9-6.9-5.6-4.6-1.9-0.1-0.2
    Canada-4.0-6.6-7.5-7.3-5.3-4.0-1.71.11.51.3
    Other advanced economies-1.6-2.6-3.0-3.6-3.0-2.7-1.5-0.4-1.5-1.4
    Spain-3.7-4.4-3.5-6.7-6.3-6.7-4.5-2.6-2.2-1.6
    Netherlands-5.1-2.9-3.9-3.2-3.8-4.0-2.3-0.9-1.3-1.3
    Belgium-5.5-6.3-6.9-7.1-4.9-3.9-3.2-2.0-1.3-1.2
    Sweden4.2-1.1-7.8-12.3-10.3-7.8-2.1-1.11.91.4
    Austria-2.1-3.0-2.0-4.2-5.0-5.1-3.7-1.9-1.9-2.0
    Denmark-1.0-2.4-2.2-2.8-2.7-2.2-0.90.21.22.0
    Finland5.3-1.5-5.9-8.0-6.2-5.2-3.5-1.41.01.6
    Greece-16.1-11.5-12.8-13.8-10.0-10.3-7.5-4.0-2.5-2.2
    Portugal-5.1-6.0-2.9-6.1-6.0-5.8-3.3-2.5-2.3-2.0
    Ireland-2.3-2.3-2.5-2.7-1.6-2.2-0.40.91.82.3
    Luxembourg4.81.90.81.62.81.92.51.70.60.9
    Switzerland-2.1-3.4-3.6-2.8-1.8-1.7-2.7-3.0-2.4
    Norway2.60.1-1.7-1.40.43.35.97.35.25.7
    Israel-4.6-4.4-3.3-2.0-1.1-3.6-4.2-2.5-2.2-1.7
    Iceland-3.3-2.9-2.8-4.5-4.7-3.0-1.6-0.3-0.2-0.2
    Korea5-0.6-1.6-0.90.40.60.40.40.1-6.2-6.2
    Australia60.1-2.3-4.4-4.4-3.3-2.0-0.8-0.20.71.0
    Taiwan Province of China0.80.50.30.60.20.4-0.7-0.6-0.5-0.5
    Hong Kong SAR0.73.22.52.31.3-0.32.25.7-1.6-1.8
    Singapore11.410.311.314.313.712.09.110.42.21.1
    New Zealand7-1.7-4.4-4.1-0.21.93.32.82.41.3-0.3
    Memorandum
    Industrial countries-2.2-2.8-3.9-4.4-3.7-3.5-2.7-1.2-1.0-1.1
    European Union-3.6-4.3-5.1-6.3-5.7-5.2-4.2-2.4-1.8-1.6
    Euro area-4.2-4.6-4.7-5.7-5.3-5.1-4.2-2.5-2.4-2.0
    Newly industrialized Asian economies0.70.40.71.61.41.10.81.3-3.3-3.4
    Fiscal balance excluding social security transactions
    United States-5.2-5.5-6.3-5.3-4.1-3.6-3.2-2.6-2.0-2.0
    Japan-0.6-0.8-2.0-4.8-5.1-6.5-6.8-5.2-7.3-8.6
    Germany2-2.9-4.0-2.8-3.4-2.6-3.0-3.1-2.8-2.8-2.4
    France-1.6-1.8-3.2-4.4-4.9-4.1-3.4-2.3-2.8-2.4
    Italy-5.8-5.0-4.0-4.9-4.4-3.3-1.91.81.71.6
    Canada-2.3-4.8-5.5-5.1-3.1-1.90.53.33.63.2
    Central government fiscal balance
    Advanced economies-2.5-3.0-4.0-4.2-3.5-3.2-2.6-1.3-1.2-1.1
    Major industrial countries-2.8-3.0-4.2-4.3-3.6-3.3-2.8-1.5-1.1-1.1
    United States8-3.0-3.5-4.7-3.9-2.7-2.3-1.4-0.30.60.7
    Japan9-0.5-0.21.7-2.7-3.5-4.1-4.3-3.6-4.8-5.1
    Germany2,10-2.0-1.9-1.3-2.1-1.5-1.5-2.2-1.7-1.5-1.4
    France10-1.6-1.6-2.9-4.2-4.6-4.0-3.6-2.6-2.7-2.4
    Italy-10.2-10.3-10.4-10.0-9.2-7.1-6.9-2.7-2.6-2.4
    United Kingdom-1.1-2.3-7.0-8.0-6.8-5.4-4.7-2.1-0.3-0.4
    Canada-3.7-4.3-4.0-4.7-3.4-3.0-1.40.80.90.6
    Other advanced economies-1.6-2.6-3.1-4.0-3.1-2.6-1.6-0.6-1.5-1.5
    Memorandum
    Industrial countries-2.7-3.1-4.2-4.5-3.8-3.4-2.8-1.4-1.1-1.0
    European Union-3.5-3.8-4.8-6.0-5.3-4.5-4.0-2.2-1.7-1.5
    Euro area-4.0-4.0-4.2-5.2-4.7-4.1-3.8-2.3-2.1-1.9
    Newly industrialized Asian economies1.2-0.3-0.30.40.90.80.81.3-2.7-2.8

    On a national income accounts basis except as indicated in footnotes. See Box 2.1 for a summary of the policy assumptions underlying the projections.

    Data through 1990 apply to west Germany only.

    Adjusted for valuation changes of the foreign exchange stabilization fund.

    Excludes asset sales.

    Data include social security transactions (that is the operations of the public pension plan).

    Data exclude net advances (primarily privatization receipts and net policy-related lending).

    Data from 1992 onward are on an accrual basis and are not strictly comparable with previous cash-based data.

    Data are on a budget basis.

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

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

    Table 16.Advanced Economies: General Government Structural Balances1(Percent of potential GDP)
    1990199119921993199419951996199719981999
    Structural balance2
    Advanced economies-3.0-2.8-3.2-3.0-2.5-2.5-1.8-0.6-0.5