Chapter

STATISTICAL APPENDIX

Author(s):
International Monetary Fund. Research Dept.
Published Date:
October 2001
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Eight statistical tables are included in this appendix. They focus on global developments and represent a subset of the traditional 46 Statistical Appendix tables in the World Economic Outlook. Data in these tables have been compiled on the basis of information available through early December 2001.

Assumptions

Key assumptions underlying the estimates for 2001 and beyond are:

  • Real effective exchange rates for the economies are assumed to remain constant at their average levels during the period September 17-October 16, 2001, except for the currencies participating in the European exchange rate mechanism II (ERM II), which are assumed to remain constant in nominal terms relative to the euro. These assumptions imply an average U.S. dollars/SDR conversion rate of 1.277 in 2001 and 1.285 in 2002.

  • Established policies of national authorities are assumed to be maintained.

  • It is assumed that the price of oil will average $24.25 a barrel in 2001 and $18.50 a barrel in 2002; thereafter, the oil price assumption is based on market information on long-term futures and swaps.

  • With regard to interest rates, it is assumed that the London interbank offered rate (LIBOR) on six-month U.S. dollar deposits will average 3.8 percent in 2001 and 2.8 percent in 2002.

For a full description of World Economic Outlook data and conventions, as well as the classification of countries in the various groups presented in the following tables, see the October 2001 World Economic Outlook, pp. 181–92.

List of Tables

1. World Output

2. Advanced Economies: Employment and Unemployment

3. Inflation

4. Fiscal Indicators

5. World Trade Volumes and Prices

6. Payments Balances on Current Account

7. Balance of Payments, Capital Flows, and External Financing

8. External Debt and Debt Service

Table 1.World Output1(Annual percent change)
Average 1983–921993199419951996199719981999200020012002
World3.52.33.73.64.04.22.83.64.72.42.4
Advanced economies3.31.43.42.73.03.42.73.33.91.10.8
Major advanced economies3.21.33.12.32.83.22.83.03.51.00.6
United States3.42.74.02.73.64.44.34.14.11.00.7
Japan3.90.51.01.43.61.8−1.00.72.2−0.4−1.0
Germany3.1−1.12.31.70.81.42.01.83.00.50.7
France2.2−0.91.81.91.11.93.53.03.52.11.3
Italy2.3−0.92.22.91.12.01.81.62.91.81.2
United Kingdom2.52.54.72.92.63.43.02.12.92.31.8
Canada2.62.44.72.81.64.33.95.14.41.40.8
Other advanced economies3.91.94.64.33.84.32.24.95.21.51.9
Memorandum
European Union2.6−0.32.82.51.72.62.92.63.41.71.3
Euro area2.7−0.82.32.31.42.32.92.63.41.51.2
Newly industrialized Asian economies8.26.57.77.56.35.8−2.47.93.20.42.0
Developing countries4.76.46.76.16.55.83.63.95.84.04.4
Regional groups
Africa2.00.42.33.05.53.13.52.52.83.53.5
Developing Asia7.39.49.79.08.36.54.06.26.85.65.6
Middle East, Malta, and Turkey3.53.50.34.25.15.14.11.15.91.83.9
Western Hemisphere2.34.05.01.83.65.32.30.14.11.01.7
Analytical groups
By source of export earnings
Fuel2.60.60.13.13.74.23.61.44.94.43.6
Nonfuel5.07.17.46.56.85.93.64.25.83.94.5
By external financing source
Net debtor countries4.86.56.96.36.65.93.64.05.84.04.5
of which, official financing2.61.62.45.45.34.23.93.73.84.24.0
Net debtor countries by debt-servicing experience
Countries with arrears and/or
rescheduling during 1994–982.73.64.65.25.04.4−0.42.04.53.23.4
Countries in transition0.2−8.9−8.6−1.4−0.61.6−0.8−3.66.34.93.6
Central and eastern Europe-0.33.05.63.92.62.32.03.83.03.2
CIS and Mongolia-12.6-14.6-5.5-3.31.1-2.84.67.86.13.9
Russia-13.0-13.5-4.2-3.40.9-4.95.48.35.83.6
Excluding Russia-11.3-17.0-8.6-3.11.51.62.86.86.84.6
Memorandum
Median growth rate
Advanced economies3.20.74.12.93.03.73.43.73.81.61.3
Developing countries3.43.13.84.34.64.43.73.53.93.33.2
Countries in transition−8.1−3.02.13.03.73.83.35.14.54.1
Output per capita
Advanced economies2.90.82.72.12.32.82.12.82.50.50.3
Developing countries2.44.44.94.54.84.21.92.34.32.53.0
Countries in transition−9.0−8.6−1.4−0.32.0−0.54.16.15.24.0
World growth based on market exchange rates3.11.12.92.83.23.52.33.04.01.41.2
Value of world output in billions of U.S. dollars
At market exchange rates23,86324,44226,23429,09529,81829,68029,48730,55031,36231,11731,920
At purchasing power parities22,80630,46732,17033,99636,03238,22739,65241,58544,54947,47350,612

Real GDP.

Real GDP.

Table 2.Employment and Unemployment in Advanced Economies(Percent)
Average1
1983–921993199419951996199719981999200020012002
Growth in employment
Advanced economies1.3−0.11.11.21.01.51.01.31.40.40.2
Major advanced economies1.21.00.80.81.41.01.11.20.1−0.1
United States1.81.52.31.51.52.31.51.51.3−0.20.2
Japan1.30.20.10.10.41.1−0.7−0.8−0.2−0.7−1.2
Germany0.9−1.4−0.20.1−0.3−0.21.11.21.60.1−0.2
France0.2−1.20.10.80.10.51.41.42.41.7
Italy0.4−4.1−1.6−0.60.50.41.11.31.91.50.3
United Kingdom0.5−0.91.01.41.12.01.11.31.00.60.4
Canada1.50.82.01.90.82.32.72.82.61.00.8
Other advanced economies1.4−0.41.32.21.71.51.02.12.11.20.9
Memorandum
European Union0.6−1.9−0.20.80.70.91.91.72.01.00.3
Euro area0.6−1.8−0.50.50.50.81.61.72.01.10.2
Newly industrialized Asian economies2.51.52.82.52.11.6−2.71.51.31.21.4
Unemployment rate
Advanced economies7.07.57.47.17.16.96.86.45.86.06.6
Major advanced economies6.97.27.06.76.86.66.36.15.76.06.6
United States26.86.96.15.65.45.04.54.24.04.96.0
Japan2.52.52.93.23.43.44.14.74.75.05.7
Germany7.37.68.17.98.69.58.98.27.57.57.8
France9.811.712.311.712.312.311.811.29.58.68.9
Italy310.710.111.111.611.611.711.811.410.69.59.4
United Kingdom9.010.49.78.78.27.16.36.05.65.25.4
Canada9.711.410.49.49.69.18.37.66.87.38.0
Other advanced economies7.28.68.78.28.17.88.17.36.26.26.3
Memorandum
European Union9.410.611.110.710.810.59.89.18.17.67.8
Euro area9.710.811.511.311.511.510.810.08.98.38.6
Newly industriatoed Asian economies2.82.42.22.12.22.55.45.33.84.34.2

For employment, compound annual rate of change; for unemployment rate, arithmetic average.

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

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 industrial countries.

For employment, compound annual rate of change; for unemployment rate, arithmetic average.

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

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 industrial countries.

Table 3.Inflation(Percent)
Average
1983–921993199419951996199719981999200020012002
GDP deflator
Advanced economies4.52.72.22.31.91.71.40.91.41.71.4
Major advanced economies3.72.31.81.91.61.51.10.91.21.51.3
United States3.32.42.12.21.91.91.21.42.32.32.1
Japan1.80.50.1−0.3−0.80.3−0.1−1.4−1.9−1.5−1.5
Germany2.83.72.52.01.00.71.10.5−0.41.41.5
France4.42.41.81.71.41.20.90.30.81.61.3
Italy8.33.93.55.05.32.42.71.62.22.61.6
United Kingdom5.62.61.42.63.32.92.92.61.71.62.3
Canada3.61.41.22.31.71.1−0.41.43.71.50.7
Other advanced economies7.94.43.S3.93.02.52.30.81.82.31.7
Memorandum
European Union5.53.52.73.12.61.92.01.51.52.21.8
Euro area5.51.92.02.42.9−0.21.21.71.32.31.7
Newly industrialized Asian economies5.46.05.54.73.72.93.2−2.3−1.90.70.9
Consumer prices
Advanced economies4.63.12.42.62.42.11.51.42.32.31.3
Major advanced economies3.92.82.22.22.22.01.31.42.32.21.1
United States4.03.02.62.82.92.31.52.23.42.91.6
Japan1.81.30.7−0.10.31.70.7−0.3−0.8−0.7−1.0
Germany2.34.52.71.71.21.50.60.72.12.41.0
France4.42.11.71.82.11.30.70.61.81.81.1
Italy7.44.64.15.24.01.92.01.72.62.61.3
United Kingdom15.33.02.42.83.02.82.72.32.12.32.4
Canada4.41.80.21.91.61.61.01.72.72.81.6
Other advanced economies7.74.23.33.83.22.32.41.32.42.91.8
Memorandum
European Union5.13.82.62.92.51.81.51.42.32.71.6
Euro area5.03.93.02.72.31.61.21.12.42.71.4
Newly industrialized Asian economies4.34.65.74.64.33.44.41.22.01.2
Developing countries46.449.255.423.215.49.910.56.85.96.05.3
Regional groups
Africa22.139.054.735.330.214.210.611.613.512.88.3
Developing Asia9.910.816.013.28.24.87.72.51.92.83.0
Middle East, Malta, and Turkey22.929.437.339.129.627.727.623.319.119.117.4
Western Hemisphere170.2194.6200.336.021.212.99.88.88.16.35.2
Analytical groups
By source of export earnings
Fuel15.329.236.242.635.119.417.216.212.913.011.8
Nonfuel51.651.857.721.313.58.99.95.95.35.44.8
By external financing source
Net debtor countries48.451.257.523.815.810.210.86.96.16.25.4
Net debtor countries by debt-servicing experience
Countries with arrears and/or rescheduling during 1994–98109.8200.7221.840.121.011.918.313.311.011.48.6
Countries in transition42.4635.8274.2133.842.527.421.843.920.116.011.0
Central and eastern Europe79.945.624.723.241.817.110.912.89.37.3
CIS and Mongolia1,246.1508.1235.655.919.125.070.425.020.613.5
Russia878.8307.5198.047.914.727.885.720.821.514.0
Excluding Russia2,440.91,334.5338.875.529.719.341.834.618.412.2
Memorandum
Median inflation rate
Advanced economies4.73.02.42.52.21.81.71.52.72.61.3
Developing countries9.49.710.610.07.36.25.84.04.24.24.4
Countries in transition95.8472.3132.140.124.114.810.08.010.07.35.3

Retail price index excluding mortgage interest.

Retail price index excluding mortgage interest.

Table 4.Fiscal Indicators(Percent of GDP)
1993199419951996199719981999200020012002
Advanced economies
Central government balance
Advanced economies−4.3−3.7−3.3−2.7−1.5−1.7−0.90.3−0.6−1.0
United States−4.2−3.0−2.6−1.8−0.60.51.32.21.00.3
Japan−2.6−3.4−3.9−4.2−3.9−8.9−7.9−7.5−6.3−5.5
Germany−2.1−1.5−1.4−2.2−1.7−1.5−1.31.3−1.4−1.1
France−4.6−4.6−4.2−4.6−3.6−3.7−3.0−2.4−1.9−2.8
Italy−9.9−9.1−7.1−6.8−2.9−2.8−1.4−1.0−2.1−2.4
United Kingdom−8.1−6.9−5.4−4.1−1.50.31.44.00.6−0.1
Canada−5.4−4.5−3.9−2.00.71.00.91.80.50.5
General government balance
Advanced economies−4.7−4.0−3.8−3.1−1.7−1.3−0.90.2−0.9−1.4
United States−5.1−3.8−3.3−2.4−1.3−0.10.61.50.3−0.5
Japan−1.6−2.2−3.5−4.2−3.2−4.5−6.8−7.9−7.2−7.1
Germany1−3.1−2.4−3.3−3.4−2.7−2.2−1.61.2−2.5−2.5
France1−6.0−5.5−5.5−4.1−3.0−2.7−1.6−1.4−0.9−2.1
Italy1,2−9.4−9.1−7.6−7.1−2.7−2.8−1.8−0.3−1.2−1.0
United Kingdom1−7.7−6.8−5.4−4.1−1.50.31.53.90.5−0.1
Canada−8.7−6.7−5.3−2.80.20.51.63.21.91.0
General government structural balance3
Advanced economies−4.0−3.4−3.3−2.5−1.3−0.8−0.6−0.5−0.6−0.5
United States−3.8−2.8−2.3−1.5−0.70.10.51.00.50.5
Japan−1.5−1.9−3.2−4.3−3.4−3.6−5.8−7.0−5.6−4.7
Excluding social security−4.6−4.7−6.0−6.9−5.9−6.0−8.0−8.7−7.1−6.2
Germany4−3.1−2.5−3.4−2.8−1.7−1.3−0.8−1.3−1.8−1.2
France4−3.5−3.5−3.7−1.9−1.0−1.5−0.9−1.2−1.2−1.4
Italy4−8.2−7.8−7.0−6.2−1.7−1.8−0.6−0.7−0.5−0.6
United Kingdom4−6.4−5.7−4.6−3.3−0.90.51.51.70.50.1
Canada−4.3−3.8−2.82.12.52.53.32.62.7
Developing countries
Central government balance
Weighted average−3.3−2.8−2.6−2.1−2.4−3.8−4.2−3.0−3.8−3.7
Median−4.2−3.8−3.3−2.4−2.4−3.1−3.4−2.9−3.7−3.4
General government balance
Weighted average−3.4−3.7−3.3−3.3−3.5−5.0−5.2−3.9−4.8−4.5
Median−3.7−3.4−3.3−2.6−2.4−3.1−3.2−2.9−3.3−3.0
Countries in transition
Central government balance−6.2−7.4−4.6−4.6−4.7−3.5−2.0−0.2−1.5
General government balance−6.8−7.5−4.7−5.9−5.4−4.9−2.20.2−0.8−2.3

Includes one-off receipts from the sale of mobile telephone licences equivalent to 2.5 percent of GDP in 2000 for Germany, 0.5 percent of GDP in 2001 for France, 1.2 percent of GDP in 2000 for Italy, and 2.4 percent of GDP in 2000 for the United Kingdom.

Includes asset sales equivalent to 0.2 percent of GOP in 2001. 0.7 percent in 2002, 0.5percent in 2003. and 0.1 percent in 2004.

Percent of potential GDP.

Excludes mobile telephone license receipts.

Includes one-off receipts from the sale of mobile telephone licences equivalent to 2.5 percent of GDP in 2000 for Germany, 0.5 percent of GDP in 2001 for France, 1.2 percent of GDP in 2000 for Italy, and 2.4 percent of GDP in 2000 for the United Kingdom.

Includes asset sales equivalent to 0.2 percent of GOP in 2001. 0.7 percent in 2002, 0.5percent in 2003. and 0.1 percent in 2004.

Percent of potential GDP.

Excludes mobile telephone license receipts.

Table 5.World Trade(Annual percent change)
Average
1983–921993199419951996199719981999200020012002
Trade in goods and services
World trade1
Volume5.43.68.89.86.310.34.25.41.41.02.1
Price deflator
In U.S. dollars2.2−3.92.78.9−1.3−5.9−4.9−1.6−0.8−3.00.2
In SDRs−0.3−3.10.22.83.1−0.7−3.5−2.32.90.3−0.4
Volume of trade
Exports
Advanced economies5.82.98.68.46.110.53.95.211.6−0.30.5
Developing countries5.99.411.310.99.313.34.94.715.03.44.5
Imports
Advanced economies6.51.39.48.76.49.35.97.711.5−0.31.4
Developing countries3.310.76.819.69.410.6−1.41.716.15.06.5
Terms of trade
Advanced economies1.10.80.10.2−0.2−0.51.4−0.3−2.30.10.7
Developing countries−2.7−1.70.93.01.8−1.3−7.33.97.5−2.6−3.0
Trade in goods
World trade1
Volume5.64.210.010.56.410.54.65.612.80.21.7
Price deflator
In U.S. dollars2.0−4.62.79.3−1.3−6.2−5.8−1.50.3−2.70.1
In SDRs−0.4−3.70.13.13.2−1.0−4.4−2.34.00.5−0.5
Volume of trade
Exports
Advanced economies6.13.29.69.15.710.84.35.111.8−0.90.4
Developing countries6.09.211.812.39.112.64.84.715.42.33.5
Imports
Advanced economies6.82.111.09.35.89.95.98.511.8−1.01.1
Developing countries3.412.07.920.19.710.00.50.816.43.55.7
World trade prices in U.S. dollars2
Manufactures4.7−5.73.110.3−3.1−8.0−1.9−1.8−5.1−1.71.9
Oil−5.2−11.8−5.07.918.4−5.4−32.137.556.9−14.0−23.7
Nonfuel primary commodities0.81.713.48.4−1.3−3.0−14.7−7.01.8−5.51.7
Terms of trade
Advanced economies1.11.60.50.3−0.8−0.61.6−2.6−0.20.9
Developing countries−3.2−3.31.42.22.8−0.9−6.64.77.0−3.0−3.3
Fuel exporters−7.5−7.0−1.56.117.30.2−26.230.440.5−10.9−15.7
Nonfuel exporters−0.5−1.62.42.1−0.8−1.1−1.3−0.5−1.3−0.50.4
Memorandum
World exports in billions of U.S. dollars
Goods and services2,877.64,725.95,286.96,266.06,587.26,852.46,768.96,970.97,746.47,556.67,689.1
Goods2,306.83,725.14,206.15,038.35,272.05,475.95,379.15,549.56,253.36,064.06,147.9

Average of annual percent change for world exports and imports. The estimates of world trade comprise, in addition to trade of advanced economies and developing countries (which is summarized in the table), trade of countries In transition.

As represented, respectively, by the export unit value index for the manufactures of the advanced economies; the average of U.K. Brent, Dubai, and West Texas Intermediate crude oil spot prices; and the average of world market prices for nonfuel primary commodities weighted by their 1987–89 shares in world commodity exports.

Average of annual percent change for world exports and imports. The estimates of world trade comprise, in addition to trade of advanced economies and developing countries (which is summarized in the table), trade of countries In transition.

As represented, respectively, by the export unit value index for the manufactures of the advanced economies; the average of U.K. Brent, Dubai, and West Texas Intermediate crude oil spot prices; and the average of world market prices for nonfuel primary commodities weighted by their 1987–89 shares in world commodity exports.

Table 6.Payments Balances on Current Account(Billions of U.S. dollars)
1993199419951996199719981999200020012002
Advanced economies66.624.547.730.577.028.0−139.5−253.7−199.6−197.7
Major advanced economies17.0−14.3−1.9−12.812.4−61.8−221.8−338.9−280.6−272.1
United States−82.5−118.2−109.9−120.9−139.8−217.5−324.4−444.7−392.0−393.8
Japan132.0130.6111.465.894.1121.0106.8116.990.8105.7
Germany−9.8−23.9−20.7−7.9−2.7−6.7−17.9−19.4−0.513.8
France9.27.410.920.539.437.637.223.825.120.5
Italy7.813.225.140.032.420.06.3−5.7−1.3−2.2
United Kingdom−17.9−10.4−14.2−13.6−2.8−8.0−30.9−27.9−24.3−30.8
Canada−21.8−13.0−4.43.4−8.2−8.31.118.121.614.7
Other advanced economies49.638.849.643.364.689.982.385.281.074.4
Memorandum
European Union8.910.146.277.2107.863.46.6−28.00.92.7
Euro area124.717.053.681.3102.564.426.1−8.714.221.3
Newly industrialized Asian economies20.816.15.9−0.910.768.066.150.644.139.0
Developing countries−118.2−85.5−97.1−74.0−58.5−86.7−11.661.54.6−69.0
Regional groups
Africa−11.1−11.5−16.6−5.1−7.0−20.0−15.43.8−3.6−14.2
Developing Asia−33.0−19.0−43.8−38.88.947.246.245.724.26.2
Middle East. Malta, and Turkey−28.2−2.9−0.210.36.6−23.214.560.840.0−5.8
Western Hemisphere−46.0−52.2−36.5−40.5−67.1−90.7−56.9−48.7−56.0−55.3
Analytical groups
By source of export earnings
Fuel−23.7−3.32.231.420.6−29.718.497.850.9−0.3
Nonfuel−94.6−82.2−99.2−105.4−79.1−57.0−30.0−36.2−46.3−68.8
By external financing source
Net debtor countries−103.1−78.1−99.1−86.9−69.7−71.3−24.94.2−30.0−67.9
of which, official financing−8.0−9.8−11.6−8.7−4.9−10.1−6.53.9−0.9−10.8
Net debtor countries by debt-servicing experience
Countries with arrears and/or rescheduling during 1994–98−28.2−18.6−47.3−41.5−49.4−58.4−23.58.5−17.2−34.1
Countries in transition−7.92.3−2.2−16.8−23.9−29.1−2.127.013.2−6.0
Central and eastern Europe−8.1−3.2−3.0−15.0−16.9−20.2−23.1−19.7−19.8−20.7
CIS and Mongolia0.25.50.8−1.9−7.0−8.921.046.732.9147
Russia2.68.24.93.8−0.4−1.622.745.333.818.0
Excluding Russia−2.4−2.7−4.1−5.7−6.6−7.3−1.71.5−0.8−3.3
Total2−59.5−58.7−51.6−60.3−5.4−87.8−153.2−165.1−181.9−272.8

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

Reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries.

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

Reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries.

Table 7.Summary of Balance of Payments, Capital Flows, and External Financing(Billions of U.S. dollars)
1993199419951996199719981999200020012002
Developing countries
Balance of payments1
Balance on current account−118.2−85.5−97.1−74.0−58.5−86.7−11.661.54.6−69.0
Balance on goods and services−93.9−56.0−56.6−43.7−35.0−53.724.9111.554.7−149
Income, net−52.6−57.7−73.6−68.1−69.1−74.5−81.5−97.5−98.3−101.9
Current transfers, net28.228.233.137.845.641.544.947.648.247.7
Balance on capital and financial account140.4114.4122.7107.6116.7112.829.6−45.610.978.1
Balance on capital account25.75.58.19.513.47.68.84.76.98.2
Balance on financial account134.7108.9114.698.1103.3105.220.8−50.44.070.0
Direct investment, net48.075.385.1107.6129.7130.5126.1118.3134.9109.5
Portfolio investment, net103.899.221.872.842.24.819.0−14.4−18.917.6
Other investment, net22.3−15.174.312.4−11.9−35.6−92.4−93.6−46.0−43.3
Reserve assets−39.5−50.4−66.6−94.7−56.75.4−31.8−60.7−66.0−13.8
Errors and omissions, net−22.1−28.9−25.6−33.6−58.2−26.1−18.0−15.9−15.5−9.1
Capital flows
Total capital flows, net3174.2159.3161.2192.8160.099.852.610.370.083.7
Net official flows45.020.933.54.119.732.722.18.147.830.8
Net private flows4129.2138.4147.7188.7140.467.030.52.322.253.0
Direct investment, net48.075.385.1107.6129.7130.5126.1118.3134.9109.5
Private portfolio investment, net73.693.615.260.836.2−4.311.1−19.7−17.010.0
Other private flows, net7.5−30.447.420.2−25.6−59.3−106.6−96.4−95.7−66.5
External financing5
Net external financing6187.8174.4213.9239.5251.0202.8165.4155.2187.6185.9
Nondebt-creating flows93.2100.5113.6150.3168.6145.0142.0145.9144.2134.1
Capital transfers75.75.58.19.513.47.68.84.76.98.2
Foreign direct investment and equity security liabilities887.595.0105.6140.8155.2137.4133.2141.2137.3126.0
Net external borrowing994.673.9100.289.182.457.823.49.343.451.7
Borrowing from official creditors1044.421.731.98.811.928.527.39.143.525.4
Of which, Credit and loans from IMF11−0.1−0.812.6−2.90.88.51.3−6.7
Borrowing from banks1219.3−28.220.319.825.928.1−3.58.0−2.07.7
Borrowing from other private creditors30.880.448.060.544.51.2−0.4−7.81.918.6
Memorandum
Balance on goods and services in percent of GDP13−2.5−1.4−1.3−0.9−0.7−1.10.52.11.0−0.3
Scheduled amortization of external debt122.7127.2154.7197.0240.8245.1278.2276.7260.9239.4
Gross external financing14310.5301.6368.5436.5491.8447.9443.6431.9448.6425.2
Gross external borrowing15217.3201.1254.9286.1323.2302.9301.6285.8304.3291.1
Exceptional external financing, net34.120.120.520.316.320.124.019.725.57.6
Of which,
Arrears on debt service4.1−14.1−2.4−0.2−8.33.612.9−22.8
Debt forgiveness1.81.31.95.114.31.62.03.7
Rescheduling of debt service22.525.120.315.310.46.111.141.4
Countries in transition
Balance of payments1
Balance on current account−7.92.3−2.2−16.8−23.9−29.1−2.127.013.2−6.0
Balance on goods and services−8.61.2−5.1−17.8−19.033.83.732.216.2−1.2
Income, net−5.5−3.1−1.9−4.8−10.8−73.1−13.8−13.2−13.3−14.8
Current transfers, net6.24.24.75.85.910.18.08.110.210.0
Balance on capital and financial account10.3−1.75.824.127.037.07.3−19.7−11.05.5
Balance on capital account22.510.20.41.20.30.40.20.10.1
Balance on financial account7.8−11.95.422.926.636.67.1−19.7−11.15.4
Direct investment, net6.05.313.112.415.621.623.422.526.731.5
Portfolio investment, net8.716.114.613.424.412.2186.26.36.5
Other investment, net4.0−28.015.5−0.9−3.94.4−11.0−27.0−24.4−20.0
Reserve assets−10.9−5.3−37.8−2.0−9.4−1.6−7.1−21.5−19.7−12.5
Errors and omissions, net−2.4−0.6−3.6−7.2−3.1−7.8−5.3−7.4−2.10.5
Capital flows
Total capital flows, net318.7−6.643.124.936.138.214.21.88.618.0
Net official flows−1.1−11.2−5.82.632.917.20.5−0.41.13.0
Net private flows419.84.649.022.33.221.013.82.27.515.0
Direct investment, net6.05.313.112.415.621.623.422.526.731.5
Private portfolio investment, net8.716.114.613.48.04.02.84.33.63.5
Other private flows, net5.1−16.821.3−3.5−20.4−4.6−12.4−24.7−22.7−20.0
External financing5
Net external financing619.013.432.135.474.856.942.824.829.142.9
Nondebt-creating flows9.816.314.814.721.424.524.425.829.534.6
Capital transfers72.510.20.41.20.30.40.20.10.1
Foreign direct investment and equity
security liabilities87.26.114.313.521.124.224.225.929.534.5
Net external borrowing99.2−2.917.320.753.432.418.4−1.1−0.48.3
Borrowing from official creditors102.0−5.8−2.52.932.917.20.4−0.41.03.0
Of which,
Credit and loans from IMF113.72.44.73.72.55.5−3.6−4.2
Borrowing from banks125.63.8−0.84.64.55.2−1.51.22.2
Borrowing from other private creditors1.7−0.920.613.216.09.919.4−0.6−2.63.1
Memorandum
Balance on goods and services in percent of GDP13−1.80.2−0.7−2.0−2.14.20.54.41.9−0.1
Scheduled amortization of external debt25.322.426.725.619.323.127.429.228.229.1
Gross external financing1444.335.758.861.094.180.070.253.957.372.0
Gross external borrowing1534.519.544.046.372.755.545.828.127.737.4
Exceptional external financing, net20.417.314.913.6−20.87.87.75.20.80.4
Of which,
Arrears on debt service0.53.8−0.51.1−24.85.01.81.6
Debt forgiveness2.10.90.9
Rescheduling of debt service1.413.313.99.93.32.44.73.7

Standard presentation in accordance with the 5th edition of the International Monetary Fund’s Balance of Payments Manual (1993).

Comprises capital transfers—including debt forgiveness—and acquisition/disposal of nonproduced, nonfinancial assets.

Comprise net direct investment, net portfolio investment, and other long- and short-term net investment flows, including official and private borrowing. In the standard balance of payments presentation above, total net capital flows are equal to the balance on financial account minus the change in reserve assets

Because of limitations on the data coverage for net official flows, the residually derived data for net private flows may include some official flows.

As defined in the World Economic Outlook (see footnote 6). It should be noted that there is no generally accepted standard definition of external financing.

Defined as the sum of—with opposite sign—the goods and services balance, net income and current transfers, direct investment abroad, the change in reserve assets, the net acquisition of other assets (such as recorded private portfolio assets, export credit, and the collateral for debt-reduction operations), and the net errors and omissions. Thus, net external financing, according to the definition adopted in the World Economic Outlook, measures the total amount required to finance the current account, direct investment outflows, net reserve transactions (often at the discretion of the monetary authorities), the net acquisition of nonreserve external assets, and the net transactions underlying the errors and omissions (not infrequently reflecting capital flight).

including other transactions on capital account.

Debt-creating foreign direct investment liabilities are not included.

Net disbursement of long- and short-term credits, including exceptional financing, by both official and private creditors.

Net disbursement by official creditors, based on directly reported flows and flows derived from information on external debt.

Comprise use of International Monetary Fund resources under the General Resources Account, Trust Fund, and Poverty Reduction and Growth Facility (PRGF).

Net disbursement by commercial banks, based on directly reported flows and cross-border claims and liabilities reported in the International Banking section of the International Monetary Fund's International Financial Statistics.

This is often referred to as the “resource balance” and, with opposite sign, the “net resource transfer.”

Net external financing plus amortization due on external debt.

Net external borrowing plus amortization due on external debt.

Standard presentation in accordance with the 5th edition of the International Monetary Fund’s Balance of Payments Manual (1993).

Comprises capital transfers—including debt forgiveness—and acquisition/disposal of nonproduced, nonfinancial assets.

Comprise net direct investment, net portfolio investment, and other long- and short-term net investment flows, including official and private borrowing. In the standard balance of payments presentation above, total net capital flows are equal to the balance on financial account minus the change in reserve assets

Because of limitations on the data coverage for net official flows, the residually derived data for net private flows may include some official flows.

As defined in the World Economic Outlook (see footnote 6). It should be noted that there is no generally accepted standard definition of external financing.

Defined as the sum of—with opposite sign—the goods and services balance, net income and current transfers, direct investment abroad, the change in reserve assets, the net acquisition of other assets (such as recorded private portfolio assets, export credit, and the collateral for debt-reduction operations), and the net errors and omissions. Thus, net external financing, according to the definition adopted in the World Economic Outlook, measures the total amount required to finance the current account, direct investment outflows, net reserve transactions (often at the discretion of the monetary authorities), the net acquisition of nonreserve external assets, and the net transactions underlying the errors and omissions (not infrequently reflecting capital flight).

including other transactions on capital account.

Debt-creating foreign direct investment liabilities are not included.

Net disbursement of long- and short-term credits, including exceptional financing, by both official and private creditors.

Net disbursement by official creditors, based on directly reported flows and flows derived from information on external debt.

Comprise use of International Monetary Fund resources under the General Resources Account, Trust Fund, and Poverty Reduction and Growth Facility (PRGF).

Net disbursement by commercial banks, based on directly reported flows and cross-border claims and liabilities reported in the International Banking section of the International Monetary Fund's International Financial Statistics.

This is often referred to as the “resource balance” and, with opposite sign, the “net resource transfer.”

Net external financing plus amortization due on external debt.

Net external borrowing plus amortization due on external debt.

Table 8.External Debt and Debt Service
1993199419951996199719981999200020012002
Percent of exports of goods and services
External debt1
Developing countries212.8199.6181.3168.0161.0186.1178.0142.3144.3144.4
Regional groups
Africa271.9281.0253.1228.2216.0243.6228.4177.2177.8185.2
Developing Asia157.3140.1127.5121.7116.8126.3123.498.799.295.2
Middle East, Malta, and Turkey195.5192.3174.6154.2155.7206.3187.3144.8156.0174.8
Western Hemisphere288.0272.3251.5236.6224.2257.6253.8209.7207.3201.3
Analytical groups
By external financing source
Net debtor countries239.1221.2200.2186.1176.3197.6191.5156.1156.9153.0
of which, official financing331.1396.8339.9297.7260.6286.4260.1194.8195.3204.0
Net debtor countries by debt-servicing experience
Countries with arrears and/or rescheduling during 1994–98343.6329.6305.1280.7264.4311.6298.4235.5239.5243.5
Countries in transition130.6125.1106.6106.6104.2115.5130.7107.6104.1103.6
Central and eastern Europe136.4120.6100.6103.798.591.0115.0105.9100.297.3
CIS and Mongolia125.7129.2112.2109.3109.7150.6149.8109.4108.3111.4
Russia171.1166.1134.2132.4130.6181.3170.3122.1121.4126.6
Excluding Russia32.735.558.055.983.485.0105.580.781.283.1
Debt-service payments2
Developing countries23.022.523.123.924.226.328.021.921.520.4
Regional groups
Africa27.627.527.623.721.321.820.317.317.118.4
Developing Asia17.917.316.515.315.017.819.013.313.412.0
Middle East, Malta, and Turkey12.114.015.017.114.416.515.412.213.614.1
Western Hemisphere39.436.940.246.151.651.259.049.746.242.7
Analytical groups
By external financing source
Net debtor countries26.024.525.325.926.628.230.624.323.621.9
of which, official financing34.936.933.124.420.219.317.013.914.513.9
Net debtor countries by debt-servicing experience
Countries with arrears and/or rescheduling during 1994–9832.129.733.532.236.744.350.233.833.132.8
Countries in transition10.19.811.511.211.115.816.714.513.913.4
Central and eastern Europe13.915.615.816.115.815.518.419.217.015.4
CIS and Mongolia6.94.77.56.86.516.214.79.710.410.9
Russia9.45.66.76.75.718.715.28.511.012.0
Excluding Russia1.72.49.37.08.111.013.412.39.19.0
Billions of U.S. dollars
Memorandum
External debt
Developing countries1,605.31,729.91,876.11,950.32,031.62,180.42,243.52,204.02,194.82,210.9
Countries in transition236.3253.0275.9299.1308.6360.4358.4358.9364.6372.9
Debt-service payments
Developing countries173.6194.8239.5277.8305.5308.0352.7339.0327.6313.6
Countries in transition18.219.829.731.432.849.445.848.348.648.2

Total debt at year-end in percent of exports of goods and services in year indicated.

Debt-service payments refer to actual payments of interest on total debt plus actual amortization payments on long-term debt. The projections incorporate the impact of exceptional financing items.

Total debt at year-end in percent of exports of goods and services in year indicated.

Debt-service payments refer to actual payments of interest on total debt plus actual amortization payments on long-term debt. The projections incorporate the impact of exceptional financing items.

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