Chapter

Statistical Appendix

Author(s):
International Monetary Fund. Research Dept.
Published Date:
January 1990
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Assumptions and Conventions

The statistical tables in this appendix have been compiled on the basis of information available on or before September 10, 1990. The recording of the figures for 1990 and beyond with the same degree of precision as the historical figures is solely a matter of convenience; it is not intended to convey any connotation regarding the degree of accuracy attaching to these estimates and projections.

The estimates and projections for 1990 and 1991 are predicated on a number of assumptions and working hypotheses:

1. For the major currencies, the average exchange rates in August 1990 will remain unchanged in real terms through the end of 1991.

2. “Present” policies of national authorities will be maintained.

3. The price of oil will average $20.59 a barrel in 1990 and $22.75 a barrel in 1991. These averages are consistent with an assumed oil price level of $26 in the final quarter of 1990 coming down to the new OPEC reference price of $21 in the fourth quarter of 1991. Thereafter, the oil price will remain unchanged in real terms.

4. With respect to interest rates, the six-month U.S. dollar LIBOR is assumed to average 8.4 percent in 1990 and 8.0 percent in 1991. Interest rates on assets denominated in other currencies will differ.

U.S. dollar/SDR conversion rates used in this report are, for the historical period, the geometric averages of daily rates given in the Fund’s International Financial Statistics (IFS). For 1990 and 1991, the exchange rate assumptions specified above imply average U.S. dollar/SDR conversion rates of 1.343 and 1.383, respectively.

Classification of Countries

The group of industrial countries (23 countries) comprises:

AustraliaCanadaFrance
AustriaDenmarkGermany, Fed. Rep. of
BelgiumFinlandGreece
IcelandNetherlandsSweden
IrelandNew ZealandSwitzerland
ItalyNorwayUnited Kingdom
JapanPortugalUnited States
LuxembourgSpain

The seven largest countries in this group in terms of GNP—the United States. Japan, the Federal Republic of Germany, France, the United Kingdom, Italy, and Canada—are collectively referred to as the major industrial countries.

The European countries are defined as all industrial countries excluding the United States, Japan, Canada, Australia, and New Zealand. Among the European countries, the current members of the European Community are distinguished as a subgroup.1 They are:

BelgiumGreeceNetherlands
DenmarkIrelandPortugal
FranceItalySpain
Germany, Fed. Rep. ofLuxembourgUnited Kingdom

The developing countries include all other Fund members (as of mid-1990),2 together with certain essentially autonomous dependent territories for which adequate statistics are available.3 The regional breakdowns of developing countries conform to the classification used in the Fund’s International Financial Statistics. In this classification, Egypt and the Libyan Arab Jamahiriya are classified as part of the Middle East, not Africa.

In addition to their regional classification, the developing countries are also grouped according to analytical criteria. Specifically, countries are classified by (1) predominant export; by (2) financial criteria; and (3) in a number of miscellaneous groups.

The first analytical criterion, by predominant export category, distinguishes among five groups: fuel (SITC (Standard International Trade Classification) 3); manufactures (SITC 5 to 8, less diamonds and gemstones); non-fuel primary products (SITC 0,1,2,4, and diamonds and gemstones); “services and private transfers,” and “diversified export base.”

A further distinction is made among the exporters of non-fuel primary products on the basis of whether countries’ exports of primary commodities consist primarily of agricultural commodities (SITC 0,1,2 except 27, 28, and 4) or minerals (SITC 27 and 28 and diamonds and gemstones).

The financial criteria first distinguish among net creditor and net debtor countries. Countries in the latter, much larger, group are then distinguished on the basis of two additional financial criteria: by predominant type of creditor and by the degree of debt-servicing difficulties they have faced.

The country groups shown under the heading “miscellaneous groups” constitute sub-Saharan Africa;4 12 major oil exporters; net debtor fuel exporters; 4 newly industrializing Asian economies; small low-income economies; and 15 heavily indebted countries.

Table A presents a breakdown of all developing country groupings according to the proportion of GDP, exports of goods and services, and level of indebtedness. A detailed account of the analytical country classification scheme is provided below.

Countries Classified by Predominant Export

Fuel (18 countries)

Countries whose average 1984–86 ratio of fuel exports to total exports exceeded 50 percent are assigned to the fuel category. The group comprises:

AlgeriaIraqQatar
CameroonKuwaitSaudi Arabia
CongoLibyan ArabTrinidad and Tobago
EcuadorJamahiriyaUnited Arab Emirates
GabonMexicoVenezuela
IndonesiaNigeria
Iran, IslamicOman
Rep. of

Non-fuel exports (114 countries)

This category identifies countries with total exports of goods and services including a substantial share of (a) manufactures, (b) primary products, or (c) services and private transfers. However, countries whose export structure is so diversified that it does not fall clearly into any one of the other three groups are assigned to a fourth group, (d) diversified export base.

Table A.Developing Countries: Shares of Various Subgroups in Aggregate GDP, Exports of Goods and Services, and Debt Outstanding, 1985–87(In percent)
GDPExports of

Goods and

Services
Debt
Developing Countries100.0100.0100.0
By region
Africa12.111.015.7
Asia41.625.7
Europe8.810.110.1
Middle East15.719.912.8
Western Hemisphere29.417.335.7
By predominant export
Fuel28.928.827.5
Non-fuel exports71.171.272.5
Manufactures48.849.336.1
Primary products12.18.118.8
Agricultural products10.15.613.6
Minerals1.92.55.2
Services and private transfers3.64.77.7
Diversified export base6.69.19.9
By financial criteria
Net creditor countries13.521.05.2
Net debtor countries86.579.094.8
Market borrowers37.841.743.9
Diversified borrowers38.028.831.8
Official borrowers10.78.619.2
Countries with recent
debt-servicing difficulties48.334.261.6
Countries without
debt-servicing difficulties38.244.833.2
Miscellaneous groups
Sub-Saharan Africa4.23.97.5
Twelve major oil exporters21.823.416.9
Net debtor fuel exporters17.914.723.2
Four newly industrializing7.424.55.5
Asian economies7.424.55.5
Small low-income economies6.23.59.0
Fifteen heavily indebted countries33.720.441.5

a. Economies whose exports of manufactures accounted for over 50 percent of their total exports in 1984–86 are included in the group of exporters of manufactures (15 countries). This group includes:

BrazilIsraelTawian Prov. of China
ChinaKoreaThailand
Hong KongPolandTunisia
HungaryRomaniaTurkey
IndiaSingaporeYugoslavia

b. The group of exporters of primary products (53 countries) consists of those countries whose exports of agricultural and mineral primary products (SITC 0,1,2, and 4. and diamonds and gemstones) accounted for at least half of their total exports in 1984–86.5 These countries are:

AfghanistanGhanaParaguay
ArgentinaGuatemalaPeru
BhutanGuineaRwanda
BoliviaGuinea-BissauSão Tomé and Principe
BotswanaGuy anaSolomon Islands
BurundiHondurasSomalia
Central AfricanKenyaSri Lanka
Rep.Lao People’sSt. Vincent
ChadDem. Rep.Sudan
ChileLiberiaSuriname
ColombiaMadagascarSwaziland
ComorosMalawiTogo
Costa RicaMaliUganda
Côte d’IvoireMauritaniaUruguay
DjiboutiMauritiusViet Nam
DominicaMyanmarZaïre
El SalvadorNicaraguaZambia
Equatorial GuineaNiger
Gambia, ThePapua New Guinea

Among primary products a further distinction is made between agricultural products and minerals. The group of mineral exporters (13 countries) comprises:

BoliviaLiberiaSuriname
BotswanaMauritaniaTogo
ChileNigerZaire
GuineaPeruZambia
Guyana

The agricultural exporters (40 countries) consist of all other exporters of primary products. They are:

AfghanistanEquatorial GuineaNicaragua
ArgentinaGambia, ThePapua New Guinea
BhutanGhanaParaguay
BurundiGuatemalaRwanda
Central AfricanGuinea-BissauSão Tomé and Principe
Rep.HondurasSolomon Islands
ChadKenyaSomalia
ColombiaLao People’s Dem.Sri Lanka
ComorosRep.St. Vincent
Costa RicaMadagascarSudan
Côte d’IvoireMalawiSwaziland
DjiboutiMaliUganda
DominicaMauritiusUruguay
El SalvadorMyanmarViet Nam

c. The exporters of services and recipients of private transfers (33 countries) are defined as those countries whose income from services and private transfers in 1984–86 accounted for more than half of total export earnings. This group comprises:

Antigua andGrenadaPakistan
BarbudaJamaicaPanama
Bahamas, TheJordanSeychelles
BarbadosKiribatiSt. Kilts and Nevis
Burkina FasoLebanonSt. Lucia
CambodiaLesothoTanzania
Cape VerdeMaldivesTonga
CyprusMaltaVanuatu
DominicanMozambiqueWestern Samoa
RepublicNepalYemen Arab Rep.6
EgyptNetherlandsYemen, People’s Dem
EthiopiaAntillesRep. of6
Fiji

c. Countries with a diversified export base (13 countries) are those whose export earnings in 1984–86 were not dominated by any one of the categories mentioned under (a) to (c) above. The group comprises:

BahrainMalaysiaSierra Leone
BangladeshMoroccoSouth Africa
BelizePhilippinesSyrian Arab Republic
BeninSenegalZimbabwe
Haiti

Countries Classified by Financial Criteria

Net creditor countries (8 countries) are defined as all developing countries that unambiguously were net external creditors in 1987 or that experienced substantial cumulated current account surpluses (excluding official transfers) between 1967–68 (the beginning of most balance of payments series in the World Economic Outlook data base) and 1987. The net creditor group consists of the following economies:

IranOmanTaiwan Prov. of China
KuwaitQatarUnited Arab Emirates
Libyan ArabSaudi Arabia
Jamahiriya

Net debtor countries (124 countries) are disaggregated according to two criteria: (a) predominant type of creditor, and (b) experience with debt servicing.

a. By predominant type of creditor (sources of borrowing)

Market borrowers (21 countries) are defined as net debtor countries with more than two thirds of their total liabilities outstanding at the end of 1987 owed to commercial creditors. They comprise:

AlgeriaEcuadorSingapore
Antigua andHong KongSouth Africa
BarbudaHungarySuriname
ArgentinaKoreaTrinidad and
Bahamas, TheMalaysiaTobago
BarbadosMEXICOUruguay
BrazilPapua New GuineaVenezuela
ChilePhilippines

Official borrowers (68 countries) are defined as net debtor countries with more than two thirds of their total liabilities outstanding at the end of 1987 owed to official creditors. This group comprises:

AfghanistanGuinea-BissauPoland
BangladeshHaitiRwanda
BelizeHondurasSenegal
BhutanJamaicaSierra Leone
BoliviaKenyaSomalia
BotswanaKiribati. Rep. ofSri Lanka
Burkina FasoLao People’s Dem.St. Kitts-Nevis
BurundiRep.St. Lucia
CambodiaLesothoSt. Vincent
Cape VerdeLiberiaSudan
Central AfricanMadagascarSwaziland
Rep.MalawiTanzania
ChadMaldivesTogo
ComorosMaliTonga
DjiboutiMaltaUganda
DominicaMauritaniaVanuatu
EgyptMauritiusViet Nam
El SalvadorMoroccoWestern Samoa
Equatorial GuineaMozambiqueYemen Arab Rep.6
EthiopiaMyanmarYemen. People’s Dem.
Gambia, TheNepalRep. of6
GhanaNetherlands AntillesZaïre
GrenadaNigerZambia
GuineaPakistan

Diversified borrowers (35 countries) consist of those net debtor developing countries that are neither market nor official borrowers:

BahrainGabonParaguay
BeninGuatemalaPeru
CameroonGuyanaRomania
ChinaIndiaSão Tomé and Principe
ColombiaIndonesiaSeychelles
CongoIraqSolomon Islands
Costa RicaIsraelSyrian Arab Republic
Côte d’IvoireJordanThailand
CyprusLebanonTunisia
DominicanNicaraguaTurkey
RepublicNigeriaYugoslavia
FijiPanamaZimbabwe

By experience with debt servicing Countries with recent debt-servicing difficulties (72 countries) are defined as those countries that incurred external payments arrears or entered official or commercial bank debt rescheduling agreements during 1986–88. Information on these developments is taken from relevant issues of the Fund’s Annual Report on Exchange Arrangements and Exchange Restrictions.

All other net debtor countries are classified as not having experienced recent debt-servicing problems.

Miscellaneous Groups

Sub-Saharan Africa comprises all African countries (as defined in International Financial Statistics) except Algeria, Morocco, Nigeria, South Africa, and Tunisia. The group of 12 major oil exporters comprises:

AlgeriaKuwaitQatar
IndonesiaLibyan ArabSaudi Arabia
Iran, IslamicJamahiriyaUnited Arab Emirates
Rep.NigeriaVenezuela
IraqOman

The four newly industrializing Asian economies are Hong Kong, Korea, Singapore, and Taiwan Province of China.

The net debtor fuel exporters are those 11 fuel exporters that are not net creditor countries. They are:

AlgeriaGabonNigeria
CameroonIndonesiaTrinidad and Tobago
CongoIraqVenezuela
EcuadorMexico

The group of small low-income economies (45 countries) comprises those Fund members, excluding China and India, whose GDP per person, as estimated by the World Bank, did not exceed the equivalent of $425 in 1986. These countries are

AfghanistanGuinea-Niger
BangladeshBissauPakistan
BeninGuyana7Ruanda
BhutanHaitiSão Tomé and Principe
Burkina FasoKenyaSenegal
BurundiLao People’sSierra Leone
CambodiaDem. Rep.Somalia
Central AfricanLesothoSri Lanka
Rep.MadagascarSudan
ChadMalawiTanzania
ComorosMaldivesTogo
EquatorialMaliUganda
GuineaMauritaniaVanuatu
EthiopiaMozambiqueViet Nam
Gambia, TheMyanmarZaïre
GhanaNepalZambia
Guinea

The group of 15 heavily indebted countries comprises those countries associated with the “Program for Sustained Growth” proposed by the Governor for the United States at the 1985 Fund/Bank Annual Meetings in Seoul. These countries are

ArgentinaCôte d’IvoirePeru
BoliviaEcuadorPhilippines
BrazilMexicoUruguay
ChileMoroccoVenezuela
ColombiaNigeriaYugoslavia

A few tables include estimates for other countries (which are classified as neither industrial nor developing), comprising the Union of Soviet Socialist Republics and Eastern European nonmember countries. Other nonmember countries, such as Cuba, Mongolia, and North Korea, are excluded from the tables in this report. Also, it has not been possible to include a number of small countries or territories for which trade and payments data are not available.

List of Tables

Medium-term baseline scenario

Table A1.World Output. 1972–911(Annual changes, in percent)
Average2

1972–81
1982198319841985198619871988198919901991
World3.50.52.64.43.33.03.34.13.02.02.4
Industrial countries3.0–0.32.74.93.42.73.44.43.42.62.4
United States2.7–2.53.66.83.42.73.44.52.51.31.7
Japan4.63.13.25.14.92.54.65.7495.13.7
Germany, Fed. Rep. of2.4–1.01.93.31.92.31.63.73.93.93.3
Other industrial countries2.90.81.83.13.12.83.23.93.32.32.2
Developing countries5.02.12.24.13.94.03.94.23.02.24.2
By region
Africa3.22.0–1.10.81.02.31.22.53.22.73.2
Asia5.65.68.18.36.86.98.19.05.05.05.4
Europe4.31.22.45.02.74.42.41.2–1.4–3.12.1
Middle East6.01.31.7–0.9–0.2–0.6–0.63.83.72.63.7
Western Hemisphere5.1–1.1–2.83.63.44.13.00.51.6–0.43.6
By analytical criteria
Fuel exporters5.90.8–0.50.41.5–0.10.32.93.43.64.1
Non-fuel exporters4.62.73.55.95.05.95.44.82.91.74.2
Market borrowers5.50.4–0.54.33.04.23.82.32.81.14.2
Official borrowers3.52.03.03.94.24.33.14.42.30.23.3
Countries with recent debt-servicing difficulties4.40.1–1.82.73.33.52.51.91.6–0.73.3
Countries without debt-servicing difficulties5.35.37.17.76.66.37.17.54.34.75.1
Other countries34.62.43.22.01.32.61.71.70.2–2.5–0.3

Real GDP (or GNP) for industrial and developing countries and real net material product (NMP) for other countries. Composites for the country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GDPs (GNPs or NMPs where applicable) over the preceding three years. Because of the uncertainty surrounding the valuation of the composite NMP of the other countries, they have been assigned —somewhat arbitrarily—a weight of 11 percent in the calculation of the growth of world output.

Compound annual rates of change. Excluding China.

The U.S.S.R. and countries of Eastern Europe that are not members of the Fund.

Real GDP (or GNP) for industrial and developing countries and real net material product (NMP) for other countries. Composites for the country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GDPs (GNPs or NMPs where applicable) over the preceding three years. Because of the uncertainty surrounding the valuation of the composite NMP of the other countries, they have been assigned —somewhat arbitrarily—a weight of 11 percent in the calculation of the growth of world output.

Compound annual rates of change. Excluding China.

The U.S.S.R. and countries of Eastern Europe that are not members of the Fund.

Table A2.Industrial Countries: Real GNP and Total Domestic Demand, 1972–911(Annual chances, in percent)
Average2Fourth Quarter3
1972–811982198319841985198619871988198919901991198919901991
Real GNP
Canada44.4–3.23.26.34.81.34.04.43.01.11.12.90.12.1
United States2.7–2.53.66.83.42.73.44.52.51 31.71.81.32.0
Japan4.63.13.25.14.92.54.65.74.95 ?3.74.84.54.1
France42.92.50.71.31.92.52.23.93.63.13.03.53.33.2
Germany, Fed. Rep. of2.4–1.01.93.31.92.31.63.73.93.93.33.23.83.3
Italy43.70.31.13.02.62.53.04.23.22.72.72.81.82.7
United Kingdom51.61.7.3.62.13.73.64.74.62.21.41.31.70.32 5
Other industrial countries2.70.51.53.53.32.52.83.33.72.52.3
All industrial countries3.0–0.32.74.93.42.73.44.43.42.62.4
Of which,
Seven major countries above3.0–0.42.95.13.42.73.54.63.32.72.42.92.42.8
European countries2.60.81.82.52.62.72.73.83.42.82.6
European Community2.70.81.72.42.42.72.73.93 53.02.7
Real total domestic demand
Canada4.7–5.43.64.75.34.25.25.04.10.41.14.0–1.02.1
United Slates2.4–1.95.18.73.83.33.03.31.90.81.61.11.01.9
Japan4.02.81.83.84.04.15.47.65.95.03.56.53 64.0
France2.73.5–0.70.42.54.53.34.03 11.23.12.93.1
Germany, Fed. Rep. of2.1–2.02.32.00.83.52.83.72.74.73.33.84.02.2
Italy2.70.3–0.63.92.72.94.74.73.32.72.7? 82.62.7
United Kingdom1.42.24.72.62.84.35.57.63.10.6–0.6–0.32.6
Other industrial countries2.50.60.22.63.53.43.33.94.42.42.2
All industrial countries2.6–0.12.85.23.43.63.74.63.42.42.3
Of which,
Seven major countries above2.7–0.33.25.63.43.63.84.73.22.42.32 82.02.6
European countries2.20.81.22.02.43.93.84.53.42.92.5
European Community2.30.81.11.92.23.93.94.73.43.02.7

Composites for the country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Compound annual rates of change.

From fourth quarter of preceding year.

GDP at market prices.

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

Composites for the country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Compound annual rates of change.

From fourth quarter of preceding year.

GDP at market prices.

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

Table A3.Industrial Countries: Components of Real GNP, 1972–911(Annual changes, in percent)
Average2

1972–81
1982198319841985198619871988198919901991
Consumer expenditure
Canada4.6–2.63.44.65.24.44.54.33.81.51.1
United States2.81.34.74.84.73.92.83.61.90.91.4
Japan4.54.13.22.72.73.14 35.13.53.63.3
France3.23.50.91.12.43.92.73.23.22.92.8
Germany, Fed. Rep. of2.7–1.31.71.51.43.43.32.71.74.23 1
Italy4.11.30.62.13.13.84.24.13.82.72.7
United Kingdom1.91.04.31.83.75.75.97.03.82.41.0
Other industrial countries2.81.00.81.43.33.32.92.63.02.62.3
All industrial countries3.11.43.03.23.73.83.43.92.72.32.2
Of which,
Seven major countries above3.21.53.43.43.83.83.54.12.72.32 2
European countries2.90.91.51.42.74.03.63.52.93.02.5
European Community3.00.81.51.42.64.03.73.73.13.22.5
Public consumption
Canada3.52.41.41.23.21.61.82.82.61.40.9
United States1.11.91.14.47.94.22.30.22.32.51.2
Japan4.71.92.92.81.76.2–0.62.22.12.21.6
France3.33.72.11.12.31.72.82.91.62.02.0
Germany, Fed. Rep. of3.1–0.80.22.42.12.61.62.3–0.92.01.7
Italy2.92.92.92.53.52.93.72.80.50.81.0
United Kingdom2.20.82.01.02.01.00.40.90.50.8
Other industrial countries3.91.52.51.83.32.92.91.82.41.61.1
All industrial countries2.51.71.73.04.73.71.91.41.82.01.4
Of which,
Seven major countries above2.31.81.63.24.93.91.71.31.72.11.4
European countries3.21.61.81.62.22.42.52.01.01.51.4
European Community3.21.51.61.62.12.42.62.10.81.41.3
Gross fixed investment
Canada6.5–11.0–0.72.19.56.210.310.24.5–0.60.1
United States2.7–9.68.216.85.31.01.95.61 (10.21.9
Japan3.40.8–0.34.95.85.810.412.611.08.54.1
France1.6–1.4–3.6–2.63.24.54.18.65.65.14.8
Germany, Fed. Rep. of0.3–5.33.20.80.13.32 25.17.19.25.6
Italy1.2–5.7–2.04.51.41.65.86.75.13.95.4
United Kingdom–0.85.45.08.63.92.18.713.74.4–1.8–3.7
Other industrial countries1.0–1.7–1.13.54.85.84.78.77.92.13.2
All industrial countries2.2–4.63.18.84.73.04.78.05.53.32.7
Of which,
Seven major countries above2.4–5.23.99.64.62.64.77.95.13.52.7
European countries0.6–1.90.62.42 54.24.98.26.44.23.2
European Community0.6–1.70.32.02.53.94.98.56.54.93.5
Final domestic demand
Canada4.7–3.42.23.45.64.25.15.33.71.00.8
United States2.4–0.44.56.65.43.52.63.31.9l.l14
Japan4.12.82.13 43.64.25.77.46.05.33.5
France2.82.40.20.32.53.63.04.23.43.23.1
Germany, Fed. Rep. of2.2–2.11.71.61.23.22.73.12.34.93.4
Italy3.2–0.111.42.72.83.24.54.43.62.62.6
United Kingdom1.51.63.92.73.04.35.46.83.41.30 1
Other industrial countries2.60.40.61.83.43.73.23.84.02.22 3
All industrial countries2.70.32.64.04.13.73.64.43.42.72.2
Of which,
Seven major countries above2.80.33.04.44.23.63.64.53.32.72.2
European countries2.40.31.31.62.53.83.74.23.33.02.5
European Community2.40.31.21.52.43.73.74.43.43.32.6
Stockbulding3
Canada–2.01.31.3–0.30.10.1–0.30.4–0.60.3
United States–1.50.62.1–1.5–0.10.5–0.30.1
Japan–0.1–0.1–0.30.40.4–0.1–0.30.3–0.1–0.2
France–0.11.0–0.9–0.10.80.3–0.2–0.30.1
Germany, Fed. Rep. of–0.10.10.60.5–0.40.30.10.60.4–0.1
Italy–0.30.4–1.01.3–0.30.30.4–0.20.10.1
United Kingdom–0.10.60.8–0.1–0.10.10.8–0.3–1.40.5
Other industrial countries–0.10.2–0.50.80.1–0.30.10.20.40.2–0.1
All industrial countries–0.1–0.40.11.2–0.60.20.2–0.20.1
Of which,
Seven major countries above–0.60.21.2–0.80.20.2–0.30.l
European countries–0.10.5–0.20.4–0.10.10.10.30.1–0.10.1
European Community–0.10.5–0.10.4–0.20.20.20.30.1–0.20.1
Foreign balances3
Canada–0.43.1–0.40.5–0.5–0.7–0.9–1.1–1.30.6
United Slates0.3–0.7–1.5–2.0–0.6–0.70.31 10.50.40.1
Japan0.30.31.51.31.1–1.4–0.6–1.7–0.90.10.2
France0.2–0.91.41.0–0.6–1.9–1.1–0.30.4–0.2–0.2
Germany, Fed. Rep, of0.31.0–0.31.31.1–1.0–1.11.1–0.60.1
Italy0.2–0.10.9–1.0–0.2–0.3–1.8–0.7–0.3–0.1–0.1
United Kingdom0.2–1.0–1.1–0.81.0–0.7–0.7–3.5–l.l1.40.8
Other industrial countries0.10.11.30.5–0.2–1.0–0.6–0.7–0.90.1
All industrial countries11.3–0.1–0.1–0.4–0.9–0.4–0.2–0.10.20.1
Of which,
Seven major countries above0.3–0.2–0.4–0.6–0.9–0.3–0.20.20.1
European countries0.2–0.10.50.40.2–1.2–1.1–0.8–0.10.1
European Community0.2–0.10.50.40.2–1.2–1.1–0.8–0.10.1

Composites for country groups are averages of percentage changes in real terms for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Compound annual rates of change.

Changes expressed as a percentage of GNP in the preceding period.

Composites for country groups are averages of percentage changes in real terms for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Compound annual rates of change.

Changes expressed as a percentage of GNP in the preceding period.

Table A4.Industrial Countries: Employment, Unemployment, and Real Per Capita GNP, 1972–91(In percent)
Average1

1972–81
1982198319841985198619871988198919901991
Growth in employment2
Canada3.1–3.50.52.42.62.82.93.22.00.90.4
United States2.4–0.91.3–1.12.02.32.62.22.00.91.1
Japan0.91.01.70.60.70.81.01.71.91.91.1
France0.40.2–0.4–0.9–0.30.10.30.81.21.00.8
Germany, Fed. Rep. of0.1–1.1–1.40.20.81.40.70.81.41.91.3
Italy1.0–0.20.30.40.50.6–0.10.50.30.40.5
United Kingdom0.1–1.9–0.22.21.10.32.33.43.11.1–0.6
Other industrial countries0.5–0.6–0.60.61.32.31.71.5? 91.31.0
All industrial countries1.4–0.60.52.11.41.71.81.81.81.20.9
Of which,
Seven major countries above1.5–0.60.72.31.41.61.81.91.81.20.9
European countries0.3–0.8–0.50.30.60.91.01.31.51.20.7
European Community0.2–0.9–0.50.30.50.91.01.31.61.20.8
Unemployment rates3
Canada7.011.011.811.210.59.58.97.87.57.88.6
United States6.69.79.67.57.27.06.25.55.35.45.5
Japan1.92.42.72.72.62.82.82.52.32.12.2
France4.68.18.39.710.510.410.510.09.59.08.8
Germany, Fed, Rep. of3.16.78.18.18.27.97.67.66.86.26.0
Italy7.49.19.910.110.311.112.012.012.011.911.8
United Kingdom4.09.510.410.710.911.210.28.26.25.96.8
Other industrial countries4.59.310.811.111.010.410.19.68.88.58.4
All industrial countries4.88.08.68.18.07.97.56.96.46.26.3
Of which,
Seven major countries above4.97.78.17.47.47.36.96.35.95.75.9
European countries4.68.89.810.210.510.410.19.58.78.38.3
European Community4.99.410.511.011.211.110.910.39.38.98.9
Growth in real per capita GNP2
Canada3.1–4.22.35.54.02.53.03.21.7–0.2–0.1
United States1.7–3.52.65.82.4l.82 43.51.50.30.7
Japan3.52.42.54.44.31.84.15.14.34.53.3
France2.42.00.20.91.52 11.83.43.12.72.6
Germany, Fed. Rep, of2.4–0.92.33.72.22.21.53.22.93.02.7
Italy3.20.10.83.92.32.42.94.03.02.62.5
United Kingdom1.51.83.51.93.43.34.44.32.11.31.2
Other industrial countries1.9–0.11.13.22.7i 92.32.63.12.01.9
All industrial countries1.2–0.92.14.42.72.02.73.72.61.91.8
Of which,
Seven major countries above2.2–1.12.34.52.72.02.83.82.61.91.8
European countries2.30.51.72.62.32.42.43.42.92.42.3
European Community2.30.61.62.52.32.52.53.63.02.62.4

Compound annual rates of change for employment and per capita GNP, and arithmetic averages for unemployment rates.

Composites for the country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Composites for the country groups are averages of national unemployment rates weighted by labor force in the respective countries.

Compound annual rates of change for employment and per capita GNP, and arithmetic averages for unemployment rates.

Composites for the country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Composites for the country groups are averages of national unemployment rates weighted by labor force in the respective countries.

Table A5.Developing Countries: Real GDP, 1972–911(Annual changes, in percent)
Average2

1972–81
1982198319841985198619871988198919901991
Developing countries5.02.12.24.13.94.03.94.23.02.24.2
By region
Africa3.22.0–1.10.84.02.31.22.53.22.73.2
Asia5.65.68.18.36.86.98.19.05.05.05.4
Europe4.31.22.45.02.74.42.41.2–1.4–3.12.1
Middle East6.01.31.7–0.90.2–0.6–0.63.83.72.63.7
Western Hemisphere5.1–1.1–2.83.63.44.13.00.51.6–0.43.6
By predominant export
Fuel5.90.8–0.50.41.5–0.10.32.93.43.64.1
Non–fuel exports4.62.73.55.95.05.95.44.82.91.74.2
Manufactures5.43.95.07.67.27.06.55.63.31.54.3
Primary products2.7–2.30.22.80.44.83.31.00.41.33.7
Agricultural products2.8–1.11.62.54.52.91.10.91 23.8
Minerals2.4–6.3–4.33.82.16.05.30.6–2.31.73.5
Services and private transfers4.44.22.73.73.34.85.23.32.83.44.0
Diversified export base4.82.60.52.01.51.55.83.62.73.7
By financial criteria
Net creditor countries6.90.42.9–0.5–1.0–0.3–0.33.04.34.54.0
Net debtor countries4.72.42.14.94.84.84.64.42.81.84.2
Market borrowers5.50.4–0.54.33.04.23:82.32.81.14.2
Diversified borrowers4.44.24.25.86.65.45.76.53.03.04.4
Official borrowers3.52.03.03.94.24.33.14.42.30.23.3
Countries with recent debt-servicing difficulties4.40.1–1.82 73.33.52.51 91.6–0.73.1
Countries without debt-servicing difficulties5.35.37.17.76.66.37.17.54.34.75.1
Miscellaneous groups
Sub-Saharan Africa2.72.8–0.21.03.63.81.72.42.31.72.8
Twelve major oil exporters5.71.00.4–0.5l.l0.80.33.53.74.04.4
Net debtor fuel exporters5.41.4–2.32.03.81.32.33.42.83.14.4
Four newly industrializing Asian economies8.55.59.69.74.411.012.19.55.56.36.2
Small low-income economies3.33.51.92 93.54.13.53.93.73.43.9
Fifteen heavily indebted countries4.9–0.5–2.92.23.74.02.60.92.0–0.23.6
Memorandum
Developing countries
Median growth rate4.61.91.43.43.13.62.84.03.53.53.5

Except where otherwise indicated, arithmetic averages of country growth rates weighted by average U.S. dollar value of GDPs over the preceding three years.

Compound annual rates of change. Excluding China.

Except where otherwise indicated, arithmetic averages of country growth rates weighted by average U.S. dollar value of GDPs over the preceding three years.

Compound annual rates of change. Excluding China.

Table A6.Developing Countries: Real Per Capita GDP, 1972–91(Annual changes, in percent)
Average1

1972–81
1982198319841985198619871988198919901991
Developing countries2.3–0.2–0.11.81.71.71.42.10.90.41.9
By region
Africa0.3–0.5–3.7–1.81.3–0.8–1.5–0.40.30.30.2
Asia3.63.76.16.55.05.16.37.23.34.03.8
Europe3.10.11.44.01.82.81.60.5–2.2–3.91.3
Middle East1.6–2.5–2.2–1.4–3.6–4.1–5.50.50.5–1.3–0.2
Western Hemisphere2.4–3.4–1.81.21.31.90.9–1.6–0.52.10.9
By predominant export
Fuel2.02.4–3.7–2.7–1.4–3.2–3.4–0.10.40.51.0
Non-fuel exports2.50.81.74.03.23.93.52.91.10.32.1
Manufactures3.32.25.45.95.65.24.94.11.80.62.4
Primary products–1.4–1.80.7–1.72.71.1–1.1–1.7–0.81.4
Agricultural products–3.2–0.40.4–2.12.50.7–0.91.1–0.81.5
Minerals–8.4–6.51.6–0.33.53.2–1.7–4.7–0.71.2
Services and private transfers4.41.40.11.00.62.12.30.60.20.81.5
Diversified export base2.00.3–2.0–0.6–2.61.1–1.03.21.10.21.1
By financial criteria
Net creditor countries2.2–3.5–0.9–4.0–4.3–3.7–5.31.20.90.6
Net debtor countries2.40.32.82.72.62.52.40.90.32.0
Market borrowers2.9–1.7–2.61.90.92.11.80.30.8–0.61.8
Diversified borrowers2.12.22 23.94.73.33.74.51.11.82.5
Official borrowers1.60.51.62.02.10.92.40.2–2.00.9
Countries with recent debt-servicing difficulties1.7–2.0–3.90.41.11.30.3–0.2–0.5–2.50.8
Countries without debt-servicing difficulties3.53.35.15.84.84.25.35.62.63.53.4
Miscellaneous groups
Sub-Saharan Africa–0.1–0.1–3.1–1.70.90.8–1.2–0.4–0.6–1.2–0.5
Twelve major oil exporters1.6–2.5–3.0–3.8–2.0–2.6–4.00.30.60.60.8
Net debtor fuel exporters2.3–1.2–5.0–0.61.3–1.4–0.20.80.31.01.9
Four newly industrializing Asian economies6.53.88.08.33.29.910.88.44.55.35.3
Small low-income economies1.10.8–0.90.20.81.30.81.31.00.70.8
Fifteen heavily indebted countries2.2–2.6–4.9–0.11.61.80.4–1.2–0.1–1.81.0

Compound annual rates of change. Excluding China.

Compound annual rates of change. Excluding China.

Table A7.Developing Countries: Gross Capital Formation, 1982–901(In percent of GDP)
198219831984198519861987198819891990
Developing countries24.923.623.823.523.523.323.422.722.9
By region
Africa22.921.019.018.620.019.219.619.319.7
Asia27.026.928.229.529.028.929.228.728.2
Europe28.426.326.426.828.327.126.727.427.9
Middle East26.328.329.324.021.818.818.417.017.0
Western Hemisphere21.217.416.917.518.019.819.818.218.6
By predominant export
Fuel25.224.524.222.421.720.620.519.319.8
Non-fuel exports24.823.223.624.124.324.524.623.923.8
Manufactures26.124.425.727.027.527.527.426.726.4
Primary products18.216.915.915.315.216.116.214.314.6
Agricultural products17.717.315.915.214.715.716.013.713.8
Minerals19.515.615.915.517.217.616.917.017.8
Services and private transfers24.220.820.219.218.618.718.117.817.8
Diversified export base26.425.623.320.419.319.120.220.320.4
By financial criteria
Net creditor countries26.128.529.724.021.519.119.418.318.5
Net debtor countries24.722.722.723.523.824.124.123.423.5
Market borrowers24.321.420.720.220.421.922.421.622.1
Diversified borrowers25.724.725.327.328.227.226.625.925.7
Official borrowers22.019.520.220.820.420.421.320.721.2
Countries with recent debt-servicing difficulties22.919.518.318.519.219.820.119.119.6
Countries without debt-servicing difficulties26.826.728.129.429.229.028.828.327.8
Miscellaneous groups
Sub-Saharan Africa19.516.917.118.218.418.718.017.718.8
Twelve major oil exporters25.625.425.422.722.521.020.919.119.4
Net debtor fuel exporters24.421.119 420.621.421.922.020.821.7
Four newly industrializing Asian economies29.828.728.526.425.327.128.329.429.5
Small low-income economies16.915.415.916.516.116.416.616.817.5
Fifteen heavily indebted countries22.017.816.316.917.819.019.117.918.4
Memorandum
Median estimates
Developing countries25.122.021.721.720.920.520.020.020.6
By region
Africa21.618.118.820.119.719.518.517.918.0
Asia28.227.124.724.023.723.325.826.325.9
Europe31.527.228.427.726.925.524.125.924.8
Middle East26.924.723.722.020.118.918.419.920.0
Western Hemisphere22.620.819.018.518.3!9.719.619.518.9

Except where otherwise indicated, arithmetic averages of country ratios weighted by the average U.S. dollar value of GDPs over the preceding three years.

Except where otherwise indicated, arithmetic averages of country ratios weighted by the average U.S. dollar value of GDPs over the preceding three years.

Table A8.Inflation, 1972–91(In percent)
Average1

1972–81
1982198319841985198619871988198919901991
GNP deflators
Industrial countries28.87.45 14.43.73.03.13.43.93.94.0
United States7.86.53.83.83.02.63.23.04.14.34.2
Japan7.11.90.81.21.41.8-0.30.61.51.52.1
Germany, Fed. Rep. of4.94.43.32.02.23.12.01.62 62.93.6
Other industrial countries211.511.08.56.95.34.65.10.15.45.25.0
Consumer prices
Industrial countries29.27.55.04.74.22.43.03.34 44.84.3
United States8.46.13.24.43.61.93.64.14.85.14.5
Japan8 82.71.92.32.00.60.10.72.32.82.3
Germany, Fed. Rep. of5.25.33.32.42.2-0.10.21.32.82.83.7
Other industrial countries211.311.18.56.66.44.54.34.25.46.15.3
Developing countries322.725.332.738.239.831.541.470.6104.6104.816.1
By region3
Africa15.413.118.020.613.216.314.719.320.016.313.2
Asia11.56.46.66.16.08.79.514.411.79.27.6
Europe15.836.123.026.227.326.735.262.6171.1140.919.0
Middle East14.512.911.914.317.118.419.217.413.714.014.1
Western Hemisphere44.267.1108.7133.5145.187.8130.9286.4538.2625.630.1
By analytical criteria3
Fuel exporters14.416.723,620.016.725.433.133.719.016.313.4
Non-fuel exporters26.729.737.648.352.434.445.188.3149.5148.217.0
Market borrowers36.148.374.590.793.060.590.1174.9287.1327.221.3
Official borrowers14.534.522.623.628.233.931.142.854.557.317.2
Countries with recent debt-servicing difficulties29.646.564.980.483.261.885.7164.1291.5309.723.8
Countries without debt-servicing difficulties15.39.310.210.911.18.29.113.513.412.010.1
Memorandum
Developing countries
Median inflation rate11.610.49.410.28.27.27.68.98.99.37.8

Compound annual rates of changes. Excluding China.

Averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Percentage changes of geometric averages of indices of consumer prices for individual countries weighted by the average U.S. dollar value of their respective GDPs over the preceding three years.

Compound annual rates of changes. Excluding China.

Averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Percentage changes of geometric averages of indices of consumer prices for individual countries weighted by the average U.S. dollar value of their respective GDPs over the preceding three years.

Table A9.Industrial Countries: GNP Deflators and Consumer Prices, 1972–911(Annual changes, in percent)
Fourth Quarter3
Average2

1972–81
1982198319841985198619871988198919901991198919901991
GNP deflators
Canada49.18.75.03.12.62.44.84.84.93.65.14,14.15.0
United States7.86.53.83.83.02.63.23.34.14.34.23.74.64.1
Japan7.41.90.81.21.41.8-0.30.61.51.52.12.21.51.9
France410.411.79.77.55.85.22.73.03.53.43.23.93.02.5
Germany, Fed. Rep. of4.94.43.32.02.23.12.01.62.62.93.62.23.64.2
Italy415.817.114.911.49.07.65.86.36.36.55.76.36.55.7
United Kingdom414.27.65.34.65.63.55.06.56.95.55.76.05.55.5
Other industrial countries10.310.57.97.06.06.24.95.15.55.95.2
All industrial countries8.87.45.14.43.73.43.03.33.93.94.0
Of which,
Seven major countries above8.56.84.74.03.43.02.73.03.73.63.83.63.83.7
European countries10.19.67.76.35.55.03.84.14.74.94.7
European Community10.49.87.86.35.65.23.74.14.64.74.5
Consumer prices
Canada9.010.85.84.34.04.24 44.05.04.96.15.25.25.8
United States8.46.13.24.43.6? 93.64.14.85.14.54.65.34.5
Japan8.82.71.92.32.00.60.10.72.32.82.32.52.92.0
France10.411.89.67.45.82.53.32.73.53.23.03.63.32.8
Germany, Fed. Rep. of5.25.33.32.42.2-0.10.21.32.82.83.73.03.43.9
Italy15.516.514.710.89.25.94.75.06.36.45.66.35.25.0
United Kingdom14.68.64.65.06.13.44.14.97.89.36.67.69.35.3
Other industrial countries9.99.98.06.06.55.54.64.45.26.35.4
All industrial countries9.27.55.04.74.22.43.03.34.44.84.3
Of which,
Seven major countries above9.07.04.54.53.92.02.83.14.24.64.14.24.73.9
European countries10.19.77.56.05.73.23.13.44.85.44.8
European Community10.310.07.76.45.73.23.03.34.85 24.7

Composites for the country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Compound annual rates of change.

From fourth quarter of preceding year.

GDP at market prices.

Composites for the country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Compound annual rates of change.

From fourth quarter of preceding year.

GDP at market prices.

Table A10.Industrial Countries: Hourly Earnings, Productivity, and Unit Labor Costs in Manufacturing, 1972–911(Annual changes, in percent)
Average2

1972–81
1982198319841985198619871988198919901991
Hourly earnings
Canada10.811.74.34.93.93.12.44.95.55.34.3
United States9.38.92.53.34.94.52.43.72.73.65.11
Japan12.14.63.03.83.11.51.74.55.36.46.4
France14.815.710.18.47.45.55.14.64.64.85.2
Germany, Fed. Rep. of9.35.33.93.23.85.15.13.94.15.56.3
Italy20.819.919.513.110.23.16.75.17.16.35.5
United Kingdom16.49.78.37.58.57.97.57.88.39.89.2
Other industrial countries13.110.17.87.17.56.66.55.36.17.06.6
All industrial countries11.69.45.45.15.54.53.74.44.65.55.9
Of which,
Seven major countries above11.39.35.04.85.24.23.34.34.45.25.8
European countries14.211.09.27.37.45.76.15.15.86.66.5
European Community14.611.39.47.47.45.75.95.05.76.56.5
Output per man-hour
Canada2.9-1.67.516.02.7-0.72.64.91.53.60.3
United States2.22.65.15.44.63.73.72.32.02 92.4
Japan5.4-0.51 95.91.9-0.64.57.35.63.33.9
France4.35.74.01.93.71.94.87.04.43.83.7
Germany, Fed. Rep. of4.11.44.43.73.61.11.74.23.23 52.7
Italy5.03.05.42.84.2-0.64.42.4-0.60.30.4
United Kingdom2.35.37.85.12.83.86.35.24.01.12.5
Other industrial countries4.32.65.64.62.71.23.52.92.62.5
All industrial countries3.42.34.95.23.62.13.74.13.02.82.6
Of which,
Seven major countries above3.32.34.75.33.72.23.94 23.12 82.6
European countries4.33.55.53.73.31.73.54.52.92.42.4
European Community4.43.75.13.63.31.63 64.52.82.32.3
Unit labor costs
Canada7.713.5-3.0-9.51.13.9-0.24.01.64.0
United Slates7.06.2-2.5-2.00.30.8-1.21.30.70.72.6
Japan6.35.11.1-2.01.22.1-2.7-2.7-0.33.02.4
France10.19.45.96.43.63.50.3-2.30.11.01.4
Germany, Fed. Rep. of5.03.8-0.5-0.40.24.03.2-0.31.01.93.4
Italy15.016.413.310.15.73.82.22.67.86.55.4
United Kingdom13.74.20.42.35.64.01.12.54.18.66.6
Other industrial countries8.67.32.32.54.85.44.21.93.24.44.0
All industrial countries7.96.90.6-0.11.92.40.41.52.53.2
Of which,
Seven major countries above7.86.80.3-0.51.42.0-0.60.21.32.23.1
European countries9.67.23.53.53.94.02.50.62.94.24.0
European Community9.97.34.13.74.04.02.30.52.94.24.0

Composites for the country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Compound annual rates of change.

Composites for the country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Compound annual rates of change.

Table A11.Developing Countries: Consumer Prices—Weighted Averages, 1972–911(Annual changes, in percent)
Average2

1972–81
1982198319841985198619871988198919901991
Developing countries22.725.332.738.239.831.541.470.6104.6104.816.1
By region
Africa15.413.118.020.613.216.314.719.320.016.313.2
Asia11.56.46.66.16.08.79.514.411.79.27.6
Europe15.836.123.026.227.326.735.262.6171.1140.919.0
Middle East14.512.911.914.317.118.419.217.413.714.014.1
Western Hemisphere44.267.1108.7133.5145.187.8130.9286.4538.2625.630.1
By predominant export
Fuel14.416.723.620.016.725.433.133.719.016.313.4
Non-fuel exports26 729.737.648.352.434.445.188.3149.5148.217.0
Manufactures21.628.233.942.244.733.247.499.0156.8167.014.6
Primary products55.156.992.0127.1153.965.370.3134.6340.6256.736.4
Agricultural products53.765.0102.8145.0159.768.076.1132.8332.9249.732.2
Minerals58.532.860.775.2131.753.343.8144.1380.4293.358.7
Services and private transfers11.79.79.313.114.614.515.514.713.814.813.6
Diversified export base11.612.210.016.713.612.312.710.211.712.79.9
By financial criteria
Net creditor countries13.07.65.63.06.212.714.313.99.810.110.0
Net debtor countries24.428.838.345.746.735.046.481.7124.6124.617.0
Market borrowers36.148.374.590.793.060.590.1174.9287.1327.221.3
Diversified borrowers16.212.715.718.417.214.716.728.642.928.912.9
Official borrowers14.534.522.623.628.233.931.142.854.557.317.2
Countries with recent debt-servicing difficulties29.646.564.980.483.261.885.7164.1291.5309.723.8
Countries without debt-servicing difficulties15.39.310.210.911.18.29.113.513.412.010.1
Miscellaneous groups
Sub-Saharan Africa20.819.225.621.619.820.523.121.719.217.715.4
Twelve major oil exporters13.58.89.910.78.113.515.318.018.714.212.0
Net debtor fuel exporters15.423.237.332.823.733.144.645.223.819.114.2
Four newly industrializing Asian economies13.36.13.62.51.61.82.34.75.48.16.1
Small low-income economies17.621.023.221.322.945.442.049.530.125.019.5
Fifteen heavily indebted countries39.555.790.8118.4122.778.5116.6248.6486.9524.126.6

Geometric averages of country indices weighted by the average U.S. dollar value of GDPs over the preceding three years.

Compound annual rates of change. Excluding China.

Geometric averages of country indices weighted by the average U.S. dollar value of GDPs over the preceding three years.

Compound annual rates of change. Excluding China.

Table A12.Developing Countries: Consumer Prices – Median Estimates, 1972–91(Annual changes, in percent)
Average

1972–81
1982198319841985198619871988198919901991
Developing countries11.610.49.410.28.27.27.68.98.99.37.8
By region
Africa11.612.711.011.99.78.37.88.19.09.48.0
Asia9.77.98.76.74.85.55.88.57.78.97.2
Europe8.916.97.48.47.85.38.316.217.121.110.8
Middle East11.59.15.26.45.16.98.25.57.58.87.5
Western Hemisphere13.99.28.812.015.01 1.414.612.010.011.09.1
By predominant export
Fuel11.310.710.410.56.46.98.25.85.74.85.0
Non-fuel exports11.410.49.310.09.07.37.59.09.49.88.2
Manufactures10.210.69.08.47.85.88.27.59.110.18.3
Primary products12.312.313.112.413.113.612.813.312.012.010.3
Agricultural products12.412.712.812.410.513.012.113.211.411.09.7
Minerals12.411.615.319.915.0[8.919.914.714.313.011.3
Services and private transfers11.57.46.15.35.04.64.97.15.67.26.0
Diversified export base10.512.58.811.49.18.53.67.18.07.25.4
By financial criteria
Net creditor countries10.26.42.00.50.62.35.35.03.63.54.2
Net debtor countries11.710.79.610.79.07.88.29.39.59.98.3
Market borrowers13.29.97.98.510.57.78.38.810.013.611.1
Diversified borrowers11.311.78.911.08.16.810.212.013.010.09.6
Official borrowers11.611.410.511.09.58.37.09.08.68.77.2
Countries with recent debt-servicing difficulties12.413.814.114.415.014.016.514.812.612.110.0
Countries without debt-servicing difficulties10.97.96.76.54.64.95.77.37.48.36.9
Miscellaneous groups
Sub-Saharan Africa11.912.711.512.010.36.87.28.38.88.77.9
Twelve major oil exporters10.57.87.07.65.07.98.25.85.76.35.8
Net debtor fuel exporters11.213.013.613.37.711.610.29.69.312.011.3
Four newly industrializing Asian economies10.35.52.42.51.41.81.84.45.17.45.6
Small low-income economies11.312.611.512.010.48.010.910.010.09.99.2
Fifteen heavily indebted countries20.419.040.950.330.723.028.138.340.925.416.8
Table A13.Summary Financial Indicators,1982–91(In percent)
1982198319841985198619871988198919901991
Major industrial countries
Fiscal balances of central governments1
Seven major countries-4.7-5.0-4.6-4.7-4.4-3.3-2.7-2.3-2.4-2.7
Of which,
United States-4.6-5.2-4.5-4.9-4.9-3.5-2.9-2.62.0-3.2
Japan-5.2-5.0-4.2-3.8-3.2-2.2-1.3-0.9-0.6-0.4
Germany, Fed, Rep of-2.4-1.9-1.6-1.2-1.2-1.4-1.7-0.9-2.2-3.2
Fiscal impulses of central governments2
Seven major countries0.40.30.20.2-0.3-0.9-0.3-0.4II ?0.1
Of which,
United States1.00.80.50.6-1.2-0.2-0.4-0.30.4
Japan-0.2-0.4-0.6-0.3-0.8-0.9-0.7-0.3-0.2-0.3
Germany, Fed. Rep. of-0.8-0.30.3-0.2-0.20.4-0.61.51.1
Growth of monetary aggregates3
Narrow money (M1)
Seven major countries8.79.07.09.513.07.36.93.4
Of which,
United States8.810.45.412.1115.56.34.30.6
Japan5.7-0.16.93.010.44.88.62.4
Germany, Fed. Rep. of6.88.05.35.47.77.510.65.23.55.1
Broad money
Seven major countries9.710.58.38.89.16.87.57.9
Of which,
United States9.712.27.98.99.34.35.24.6
Japan7.97.37.88.79.210.810.212.0
Germany, Fed, Rep. of7.25 54.55.26.86.06.84.15.75.1
Interest rates
Six-month Eurodollar rate413.69.911.38.66.87.38.19.38 48.0
Developing countries
Fiscal balances of central governments4
Weighted averages-5.1-5.5-4.9-5.3-7.2-6.86 7-8.0-3.8
Medians-6.6-6.5-4.8-4.5-5.0-5.4-5.2-4.9-3.7
Growth of monetary aggregates5
Weighted averages32.437.648.945.635.350.777.4107.963.5
Medians16.516.116.215.317.615.716.713.512 5

In percent of GNP/GDP.

For definition of fiscalimpulses, see International Monetary Fund. Occasional Paper No.44. A Review of the Fiscal Impulse Measure(International Monetary Fund. 1986). See also footnotes to Table A16.

For definitions of monetary aggregates, see footnotes 3 and 4 to Table A14.

London interbank offered rate on six-month U.S. dollar deposits.

Broad money.

In percent of GNP/GDP.

For definition of fiscalimpulses, see International Monetary Fund. Occasional Paper No.44. A Review of the Fiscal Impulse Measure(International Monetary Fund. 1986). See also footnotes to Table A16.

For definitions of monetary aggregates, see footnotes 3 and 4 to Table A14.

London interbank offered rate on six-month U.S. dollar deposits.

Broad money.

Table A14.Major Industrial Countries: Monetary Aggregates, 1982–911

(Annual changes, in percent)2

1982198319841985198619871988198919901991
Narrow money3
Canada3.211.20.98.45.710.85.93.2
United States8.810.45.412.015.56.34.30.6
Japan5.7-0.16.93.010.44.88.62.4
France9.612.91l.l6.76.04 54.17.97.57.5
Germany, Fed. Rep, of6.88.05.35.47.77.510.65.23.55.1
Italy16.712.912.410.410.77.47.611.36.66.5
United Kingdom13.414.415.722.423.417.88.3
Seven major countries above9.07.09.513.07.36.93.4
Four major European countries above11.410.39.011.110.19.87.9
Broad money4
Canada7.54.46.310.69.17.510.514.0
United States9.112.27.98.99.34.35.24.6
Japan7.97.37.88.79.210.810.212.0
France12.113.79.86.04.04.43.74.55.05.0
Germany, Fed. Rep. of7.25.54.55.26.86.06.84.15.05.1
Italy18.312.312.311.19.68.68.911.26.97.5
United Kingdom12.013.213.813.216.016.417.618.3
Seven major countries above9.710.58.38.89.16.87.57.9
Four major European countries above11.510.79.58.48.78.38.78.7

Composites for the country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Based on end-of-period data.

M2 for the United Kingdom, M1 for the other industrial countries. M1 is generally currency in circulation plus private demand deposits. In addition, Canada excludes private sector float; the United States includes traveler’s checks of nonbank issues and other checkable deposits and excludes private sector float and demand deposits of banks; Japan includes government demand deposits and excludes float; and the Federal Republic of Germany includes demand deposits at fixed interest rates. The United Kingdom includes in M2 the non-interest-bearing component of Ml, the private sector interest- bearing retail sterling bank deposits, and the private sector holdings of retail building society shares and deposits and national savings bank ordinary accounts.

M1 plus quasi-money—generally M2, except for Japan, the Federal Republic of Germany, and the United Kingdom, for which the data are based on M2 + CDs, M3, and M4, respectively. Quasi-money is essentially private term deposits and other noticed deposits. The United States also includes money market mutual fund balances, money market deposit accounts, overnight repurchase agreements, and overnight Eurodollars issued to U.S residents by foreign branches of U.S. banks. For Japan, M2 + CDs is currency in circulation plus total private and public sector deposits and installments of Sogo Banks plus certificates of deposit. For the Federal Republic of Germany, M3 is M1 plus private time deposits with maturities of less than four years plus savings deposits at statutory notice. For the United Kingdom. M4 is composed as follows: Non-interest-bearing M1 plus private sector interest-bearing sterling sight bank deposits plus private sector sterling time bank deposits plus private sector holdings of sterling bank certificates of deposit plus private sector holdings of building society shares and deposits and sterling certificates of deposit less building society holdings of bank deposits and bank certificates of deposit, and notes and coin.

Composites for the country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Based on end-of-period data.

M2 for the United Kingdom, M1 for the other industrial countries. M1 is generally currency in circulation plus private demand deposits. In addition, Canada excludes private sector float; the United States includes traveler’s checks of nonbank issues and other checkable deposits and excludes private sector float and demand deposits of banks; Japan includes government demand deposits and excludes float; and the Federal Republic of Germany includes demand deposits at fixed interest rates. The United Kingdom includes in M2 the non-interest-bearing component of Ml, the private sector interest- bearing retail sterling bank deposits, and the private sector holdings of retail building society shares and deposits and national savings bank ordinary accounts.

M1 plus quasi-money—generally M2, except for Japan, the Federal Republic of Germany, and the United Kingdom, for which the data are based on M2 + CDs, M3, and M4, respectively. Quasi-money is essentially private term deposits and other noticed deposits. The United States also includes money market mutual fund balances, money market deposit accounts, overnight repurchase agreements, and overnight Eurodollars issued to U.S residents by foreign branches of U.S. banks. For Japan, M2 + CDs is currency in circulation plus total private and public sector deposits and installments of Sogo Banks plus certificates of deposit. For the Federal Republic of Germany, M3 is M1 plus private time deposits with maturities of less than four years plus savings deposits at statutory notice. For the United Kingdom. M4 is composed as follows: Non-interest-bearing M1 plus private sector interest-bearing sterling sight bank deposits plus private sector sterling time bank deposits plus private sector holdings of sterling bank certificates of deposit plus private sector holdings of building society shares and deposits and sterling certificates of deposit less building society holdings of bank deposits and bank certificates of deposit, and notes and coin.

Table A15.Major Industrial Countries: Interest Rates, 1982–August 19901(In percent per annum)
August
198219831984198519861987198819891990
Short-term interest rates2
Canada14.49.511.29.69.28.49.612.213.6
United States12.49.110.48.06.56.47.79.18.0
Japan7.16.76.46.65.04.14.45.37.8
France14.712.611.910.17.88.27.99.310.1
Germany, Fed. Rep. of8.95.86.05.44.64.04.27.18.4
Italy19.417.815.313.911.911.111.212.711.7
United Kingdom11.610.19.912.210.99.710.313.915.0
Seven major countries above11.89.39.78.46.96.77.28.79.1
Four major European countries above13.010.810.29.98.37.87.910.310.9
Long-term interest rates3
Canada14.411.812.711.19.59.910.29 910.8
United States13.011.112.510.67.78.48.88.58.8
Japan8.37.87.36.55.25.04.85.17.6
France15.713.612.510.98.49.49.18.810.1
Germany, Fed. Rep. of9.08.18.07.06.16.26.57.09.0
Italy21.619.516.614.612.211.612.013.313.3
United Kingdom13.111.311.311.110.19.69.710.212.0
Seven major countries above12.611.011.49.97.78.08.18.19.2
Four major European countries above13.912.411.610.58.98.99.09.510.8

Composites for the country groups are averages of interest rates for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Interest rate on the following instruments: Canada, three-month prime corporate paper; United States, three-month certificates of deposit in secondary market; Japan, three-month certificates of deposit (from July 1984; earlier data refer to three-month Gensaki rate); Italy, three-month treasury bills; France, the Federal Republic of Germany, and the United Kingdom, three-month interbank deposits.

Average yield on government bonds with residual maturities of over 10 years for Canada, yield on ten-year treasury bonds tor the United States, and over-the-counter sales yield of ten-year government bonds with longest residual maturity for Japan. Long-term (7 to 10 years) government bond yield (Emprunts d’Etat a long terme TME) for France, yield on government bonds with maturities of 9-10 years for the Federal Republic of Germany, secondary market yield on fixed-coupon (BTP) government bonds (average maturity of about 3.5 years) for Italy, and yield on medium-dated (ten-year) government stock for the United Kingdom.

Composites for the country groups are averages of interest rates for individual countries weighted by the average U.S. dollar value of their respective GNPs over the preceding three years.

Interest rate on the following instruments: Canada, three-month prime corporate paper; United States, three-month certificates of deposit in secondary market; Japan, three-month certificates of deposit (from July 1984; earlier data refer to three-month Gensaki rate); Italy, three-month treasury bills; France, the Federal Republic of Germany, and the United Kingdom, three-month interbank deposits.

Average yield on government bonds with residual maturities of over 10 years for Canada, yield on ten-year treasury bonds tor the United States, and over-the-counter sales yield of ten-year government bonds with longest residual maturity for Japan. Long-term (7 to 10 years) government bond yield (Emprunts d’Etat a long terme TME) for France, yield on government bonds with maturities of 9-10 years for the Federal Republic of Germany, secondary market yield on fixed-coupon (BTP) government bonds (average maturity of about 3.5 years) for Italy, and yield on medium-dated (ten-year) government stock for the United Kingdom.

Table A16.Major Industrial Countries: Central Government Fiscal Balances and Impulses, 1982–911

(In percent of GNP)2

1982198319841985198619871988198919901991
Fiscal balance
(+ surplus, - deficit)
Canada3-5.4-6.2-6.8-6.6-4.7-3.9-3.5-3.5-3.6-3.5
United States4-4.6-5.2-4.5-4.9-4.9-3.5-2.9-2.6-2.6-3.2
Japan5-5.2-5.0-4.2-3.8-3.2-2.2-1.3-0.9-0.6-0.4
France6-2.7-3.2-3.4-3.3-2.8-2.3-2.0-1.6-1.4-1.2
Germany, Fed. Rep. of7-2.4-1.9-1.6-1.2-1.2-1.4-1.7-0.9-2.2-3.2
Italy8-13.213.9-13.2-13.8-12.3-11.6-11.5-11.2-10.8-10.5
United Kingdom3-2.7-2.7-3.2-2.3-2.0-1.01.21.30.60.6
Seven major countries above-4.7-5.0-4.6-4.7-4.4-3.3-2.7-2.3-2.4-2.7
Seven major countries except the United Stales-4.8-4.9-4.7-4.5-3.8-3.2-2.6-2.1-2.2-2.3
Fiscal impulse
(+ expansionary, - contractionary)
Canada31.30.61.50.3-1.8-0.4-0.10.1-0.4-0.4
United States41.00.80.50.6-1.2-0.2-0.4-0.30.4
Japan5-0.2-0.4-0.6-0.3-0.8-0.9-0.7-0.3-0.2-0.3
France60.20.2-0.1-0.4-0.5-0.2-0.2-0.2
Germany, Fed. Rep. of7-0.8-0.30.3-0.2-0.20.4-0.61.51.1
Italy80.30.3-0.80.5-1.7-0.60.3-0.3-0.6-0.4
United Kingdom3-0.30.40.4-0.40.2-0.3-1.4-0.30.1-0.5
Seven major countries above0.40.30.20.2-0.3-0.9-0.3-0.4-0.10.1
Seven major countries except the United States-0.1-0.1-0.7-0.6-0.3-0.30.1-0.1

Composites for the country groups are weighted averages of the individual national ratios for each year, with weights proportionate to the U.S. dollar value of the respective GNPs in the preceding three years.

Canada, France, Italy and the United Kingdom: in percent of GDP.

Data for Canada and the United Kingdom arc on national income accounts basis. For Canada, the fiscal impulse for 1989 would be negative if interest payments were excluded from expenditure.

Data for the United States are on a budget basis.

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

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

Data for the Federal Republic of Germany are on an administrative basis and exclude social security transactions.

Data for Italy refer to the state sector and cover the transactions of the state budget as well as those of several autonomous entities operating at the same level but do not include the gross transactions of social security institutions, only their deficits.

Composites for the country groups are weighted averages of the individual national ratios for each year, with weights proportionate to the U.S. dollar value of the respective GNPs in the preceding three years.

Canada, France, Italy and the United Kingdom: in percent of GDP.

Data for Canada and the United Kingdom arc on national income accounts basis. For Canada, the fiscal impulse for 1989 would be negative if interest payments were excluded from expenditure.

Data for the United States are on a budget basis.

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

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

Data for the Federal Republic of Germany are on an administrative basis and exclude social security transactions.

Data for Italy refer to the state sector and cover the transactions of the state budget as well as those of several autonomous entities operating at the same level but do not include the gross transactions of social security institutions, only their deficits.

Table A17.Major Industrial Countries: General Government Fiscal Balances and Impulses, 1982–911

(In percent of GNP)2

1982198319841985198619871988198919901991
Fiscal balance
(+ surplus, - deficit)
Canada-5.9-6.9-6.5-6.8-5.4-4.0-2.9-3.4-3.6-3.0
United States-3.5-3.8-2.8-3.3-3.4-2.4-2.0-1.7-1.7-2.3
Japan-3.6-3.7-2.1-0.8-0.90.72.12.83.13.3
France3-2.8-3.1-2.8-2.9-2.7-1.9-1.8-1.4-1.3-1.2
Germany, Fed. Rep. of-3.3-2.5-1.9-1.1-1.3-1.82.10.2-2.2-3.5
Italy-11.3-10.6-11.6-12.5-11.7-11.1-10.9-10.2-9.8-9.6
United Kingdom4-3.5-3.6-3.4-2.21.50.32.21.50.70.4
Seven major countries above-4.0-4.1-3.3-3.3-3.2-2.2-1.5-0.9-1.1-1.5
Seven major countries except the United States-4.4-1.4-3.8-3.3-3.0-1.9-1.1-0.3-0.7-0.9
Fiscal impulse
(+ expansionary, - contractionary)
Canada1.10.91.11.1-1.2-0.8-0.50.5-0.6-1.3
United States0.30.60.70.70.1-0.80.2-0.4-0.50.3
Japan-0.5-0.2-1.3-1.0-0.4-1.5-0.9-0.6-0.4
France0.70.2-0.90.40.1-0.1
Germany, Fed. Rep, of-2.1-0.40.5-0.10.2-0.50.8-1.72.91.5
Italy-2.0-1.40.80.8-1.00.60.5-0.6-0.4-0.4
United Kingdom-0.70.6-0.3-0.5-0.4-0.8-0.90.40.1-0.3
Seven major countries above-0.30.20.20.3-0.1-0.9-0.50.1
Seven major countries except the United States-0.7-0.2-0.3-0.2-0.4-1.0-0.2-0.50.4-0.1
Memorandum
Germany, Fed. Rep, of Fiscal balance, territorial authorities54.4-3.3-2.6-2.1-2.2-2.5-2.5-1.2-3.2-4.0

Data are on a national income accounts basis. Composites for the country groups are weighted averages of the individual national ratios for each year, with weights proportionate to the U.S. dollar value of the respective GNPs in the preceding three years.

Canada, France, Italy, and the United Kingdom: in percent of GDP.

Adjusted for valuation changes of the foreign exchange stabilization fund.

Excluding asset sales.

General government, on an administrative basis, excluding social security transactions.

Data are on a national income accounts basis. Composites for the country groups are weighted averages of the individual national ratios for each year, with weights proportionate to the U.S. dollar value of the respective GNPs in the preceding three years.

Canada, France, Italy, and the United Kingdom: in percent of GDP.

Adjusted for valuation changes of the foreign exchange stabilization fund.

Excluding asset sales.

General government, on an administrative basis, excluding social security transactions.

Table A18.Developing Countries: Broad Money Aggregates, 1982–891(Annual changes, in percent)
19821983198419851986198719881989
Developing countries32.437.648.945.635.350.777.4107.9
By region
Africa16.015.120.517.710.619.925.519.2
Asia18.120.724.918.823.823.822.220.9
Europe30.818.528.531.634.341.763.9180.1
Middle East19.914.419.018.412.511.71l.l13.6
Western Hemisphere74.2107.9144.5139.284.3150.5312.3508.8
By predominant export
Fuel22.922.020.719.922.430.122.015.0
Non-fuel exports37.146.165.259.841.860.6106.6158.0
Manufactures38.644.864.958.043.766.7123.0168.0
Primary products52.493.4135.9136.667.486.5142.0325.4
Agricultural products56.4109.7150.7139.770.791.1139.3324.3
Minerals39.848.891.3124.952.765.1156.3331.1
Services and private transfers22.512.316.216.223.516.513.512.4
Diversified export base16.015.519.113.48.414.922.024.6
By financial criteria
Net creditor countries17.29.79.214.312.513.011.413.1
Net debtor countries35.243.357.451.939.757.990.9127.6
Market borrowers57.177.798.692.959.6107.9199.4287.8
Diversified borrowers20.323.433.824.323.925.233.049.7
Official borrowers28.920.127.637.636.237.539.644.5
Countries with recent debt-servicing difficulties47.361.881.982.156.896.6176.4281.1
Countries without debt-servicing difficulties21.322.530.821.121.420.519.720.9
Miscellaneous groups
Sub-Saharan Africa18.715.827.528.028.020.724.118.4
Twelve major oil exporters13.913.811.213.910.414.415.616.3
Net debtor fuel exporters27.832.930.424.731.044.530.216.8
Four newly industrializing Asian economies27.619.515.218.120.022.819.216.5
Small low-income economies24.223.025.536.445.048.142.131.6
Fifteen heavily indebted countries61.289.2117.7118.274.7136.2272.3473.9
Memorandum
Median estimates
Developing countries16.516.116.215.317.615.716.713.5
By region
Africa16.313.615.715.715.014.012.011.6
Asia20.720.416.615.616.818.718.418.3
Europe17.911.713.811.410.913.217.113.4
Middle East19.316.015.211.79.98.97.912.6
Western Hemisphere14.316.116.315.223.519.425.215.1

Except where otherwise indicated, geometric averages of country indices, weighted by the average U.S. dollar value of GDPs over the preceding three years.

Except where otherwise indicated, geometric averages of country indices, weighted by the average U.S. dollar value of GDPs over the preceding three years.

Table A19.Developing Countries: Central Government Fiscal Balances, 1982–901(In Percent of GDP)
198219831984198519861987198819891990
Developing countries–5.1–5.5–4.9–5.1–7.2–6.8–6.7–8.03.8
By region
Africa–6.8–7.5–5.1–4.8–6.7–7.1–8.5–5.3–4.9
Asia–4.3–3.3–2.8–3.1–3.9–3.5–3.3–3.4–3.1
Europe–0.8–0.7–0.6–0.7–0.8–0.70.2–1.8–0.1
Middle East–6.8–10.0–10.4–8.2–13.7–12.1–11.6–9.9–9.7
Western Hemisphere–5.8–5.85.3–7.1–9.2–9.2–9.4–15.5–2.2
By predominant export
Fuel–5.9–7.5–5.8–6.0–11.3–10.6–10.5–7.1–6.8
Non-fuel exports–4.7–4.5–4.5–4.7–5.3–5.1–5.2–8.4–2.8
Manufactures–2.8–3.0–3.3–4.1–5.0–4.8–5.1–9.9–2.6
Primary product–8.2–7.2–6.4–4.2–3.7–4.2–4.4–4.0–2.6
Agricultural products–9.1–7.5–6.5–4.0–3.5–4.0–4.5–4.3–2.3
Minerals5.2–6.3–5.9–5.0–4.6–5.2–3.7–2.7–4.0
Services and private transfers–12.9–11.7–11.6–12.1–11.1–10.7–10.7–9.9–2.5
Diversified export base–6.4–5.5–5.3–4.7–6.3–5.8–4.3–4.0–4.1
By financial criteria
Net creditor countries–0.6–6.3–6.9–5.6–12.4–11.6–10.9–8.8–8.9
Net debtor countries–5.9–5.34.6–5.0–6.3–6.0–6.1–7.9–3.0
Market borrowers–5.6–5.2–4.3–5.9–8.2–8.0–8.1–12.1–2.5
Diversified borrowers–5.4–5.04.2–3.7–4.4–3.7–4.0–3.8–2.9
Official borrowers–8.6–7.4–6.9–6.6–6.5–6.7–6.2–7.6–5.8
Countries with recent debt-servicing difficulties–6.6–6.0–4.9–5.9–7.8–7.5–7.6–11.2–2.6
Countries without debt-servicing difficulties–4.9–4.5–4.2–3.9–4.4–4.14.2–4.0–3.5
Miscellaneous groups
Sub-Saharan Africa–7.0–5.7–5.1–5.4–6.2–7.1–6.8–7.7–7.2
Twelve major oil exporters–5.4–7.8–6.1–5.7–11.2–9.7–10.8–7.5–7.5
Net debtor fuel exporters–9.6–7.9–4.4–5.6–9.3–8.4–8.6–1.4–3.8
Four newly industrializing Asian economies–2.1–41.90.10.80.40.30.90.3–0.1
Small low-income economies–7.9–6.8–6.1–6.8–7.0–6.8–7.0–7.1–6.9
Fifteen heavily indebted countries–5.5–5.6–4.6–6.1–8.6–8.8–9.1–14.0–3.0
Memorandum
Median estimates
Developing countries–6.6–6.5–4.8–4.5–5.0–5.4–5.2–1.9–3.7
By region
Africa–7.3–7.7–5.7–5.1–6.1–6.4–5.6–5.0–4.4
Asia–6.1–4.23.5–4.3–4.9–4.7–4.1–4.5–2.3
Europe–1.8–1.1–1.6–1.2–2.3–2.9–0.9–2.2–0.8
Middle East–9.1–9.2–12.8–8.5–14.6–12.1–12.3–10.1–9.4
Western Hemisphere–5.4–5.1–4.8–3.0–3.4–2.6–3.5–2.7–2.1

Arithmetic averages of country balances, in percent of GDP, weighted by the average U.S. dollar value of GDPs over the preceding three years.

Arithmetic averages of country balances, in percent of GDP, weighted by the average U.S. dollar value of GDPs over the preceding three years.

Table A20.Summary of World Trade Volumes and Prices, 1972–91(Annual changes, in percent)
Average1
1972–811982198319841985198619871988198919901991
World trade2
Volume5.2–2.42.58.62.74.96.79.17.35.45.3
Unit value in U.S. dollar terms13.1–4.4–4.8–2.3–1.84.510.05.11.28.46.3
in SDR terms311.32.1–1.71.9–0.9–9.6–0.21.16.13.83.5
Volume of trade
Exports
Industrial countries6.1–2.02.99.94 43.15.18.87.06.35.2
Developing countries1.9–6.91.55.8–0.98.312.110.56.75.05.3
Fuel exporters–1.9–14.1–5.0–4.813.62.212.17.61.74.1
Non-fuel exporters6.20.26.59.81.46.615.910.06.46.15.6
Imports
Industrial countries4.7–0.74.512.34 58.97.09.0s 15.54.5
Developing countries8.0–4.3–3.11.6–1.4–3.07.210.68.64.16.3
Fuel exporters15.9–1.8–12.6–8.0–10.8–19.8–7.46.15 46.514.2
Non-Fuel exporters5.3–5.61.75.72.13.111.411.79.33.64.6
Unit value of trade
(in SDR terms)
Exports
Industrial countries8.82.6–0.81.0–0.1–2.00.92.04.94.63.8
Developing countries19.11.9–3.64.8–2.725.5–1.3–0.910.21.32.5
Fuel exporters28.82.1–8.23.1–4.4–49.17.2–15.517.49.95.6
Non-fuel exporters10.91.80.26.1–1.6–12.3–4.24.18.2–1.31.5
Imports
Industrial countries11.00.9–2.50.7–0.7–10.10.20.55 15.14.0
Developing countries11.23.5–0.43.2–1.2–10.8–3.02.67 71.52.8
Fuel exporters9.34.00.52.5–0.6–4.3–2.03.66.1–1.11.6
Non-fuel exporters11.93.3–0.83.5–1.4–13.0–3.32.38.12.13.0
Terms of trade
Industrial countries–1.91.61.80.30.69.00.71.4–0.2–0.5–0.2
Developing countries7.0–1.5–3.31.6–1.5–16.41.8–3.42.3–0.2–0.3
Fuel exporters17.8–1.8–8.60.6–3.9–46.79.4–18.410.711.03.9
Non-fuel exporters–0.8–1.51.02.5–0.10.8–0.91.70.1–3.3–1.5
Memorandum
World trade prices (in U.S. dollar terms) for major commodity groups3
Manufactures10.1–2.1–2.8–3.11.117.711.96.1–0.47.95.7
Oil–4.6–48.828.7–20.521.419.910.5
Non-fuel primary commodities9.510.46.22.2–13.1–3.98.623.5–0.3–8.1–0.4

Compound annual rates of change. Excluding China.

Averages of growth rates for world exports and imports based on data for the two groups of countries shown separately below and on partly estimated data for the U.S.S.R. and nonmember countries of Eastern Europe.

As represented, respectively, by the export unit value index for the manufactures of the industrial countries; the average of UK Brent, Dubai, and Alaska North Slope crude petroleum spot prices; and the index of market quotations for non-fuel primary commodities in world exports.

Compound annual rates of change. Excluding China.

Averages of growth rates for world exports and imports based on data for the two groups of countries shown separately below and on partly estimated data for the U.S.S.R. and nonmember countries of Eastern Europe.

As represented, respectively, by the export unit value index for the manufactures of the industrial countries; the average of UK Brent, Dubai, and Alaska North Slope crude petroleum spot prices; and the index of market quotations for non-fuel primary commodities in world exports.

Table A21.Industrial Countries: Merchandise Trade, 1972—91(Changes, in percent)
Average1
1972–811982198319841985198619871988198919901991
Total merchandise trade
Value (in U.S. dollar terms)
Exports17.4–5.9–1.16.53.316.616.915.37.116.312.2
Imports18.0–6.2–1.38.52.913.118.113.98.415.911.6
Volume
Exports6.1–2.02.99.94.43.15.18.87.06.35.2
Imports4.7–0.74.512.34.58 97.09.08.15.54.5
Unit value (in U.S. dollar terms)
Exports10.6–4.0–3.9–3.1–1.013.211.26.09.46.7
Imports12.8–5.5–5.6–3.4–1.63.910.44.50.39.96.S
Terms of trade–1.91.61.80.30.69.00.71.4–0.20.5–0.2
Non-oil trade
Value (in U.S. dollar terms)
Exports16.8–6.2–1.26.83.419.717.215.97.016.012.0
Imports15.6–3.61.710.65.123.118.516.36.914.711.6
Volume
Exports6.4–2.42.510.24.42.85.28.67.36.45.2
Imports5.71.66.214.36.48.77.69.37.85.35.1
Unit value (in U.S. dollar terms)
Exports9.8–3.9–3.7–3.2–0.916.511.36.8–0.39.06.5
Imports9.3–5.1–4.2–3.2–1.213.310.16.4–0.98.96.2
Terms of trade0.41.40.60.32.81.10.30.50.10.3
Memorandum
Real GNP22.92.24.13.12.73.04.13.42.62.4
Apparent income elasticity of non-oil imports33.7–75.12.83.52.03.32.52.32.32.12.1
Import volume of developing countries8.2–4.3–3.11.6–1.4–3.07.210.68.64.16.3
Market prices of non-fuel primary commodities (in U.S. dollar terms)49.2–8.96.01.7–12.7–3.516.320.20.2–6.7–0.5
Unit labor costs in manufacturing (in U.S.dollar terms)8.6–1.3–3.9–5.0–0.418.28.64.2–7.16.15.4

Compound annual rates of change.

Averages of changes for individual countries weighted by the average U.S. dollar value of their respective non-oil imports over the preceding three years.

Ratio of growth in non-oil imports to growth in real GNP.

Average of individual commodity price indices weighted by the U.S. dollar value of industrial countries’ imports of the respective commodities in 1979-81.

Compound annual rates of change.

Averages of changes for individual countries weighted by the average U.S. dollar value of their respective non-oil imports over the preceding three years.

Ratio of growth in non-oil imports to growth in real GNP.

Average of individual commodity price indices weighted by the U.S. dollar value of industrial countries’ imports of the respective commodities in 1979-81.

Table A22.Industrial Countries: Export Volumes, Import Volumes, and Terms of Trade, 1972—911(Annual chances, in percent)
Average2
1972–811982198319841985198619871988198919901991
Export volumes3
Canada5.6–0.57.418.66.44.03.69.41.34.43.0
United States7.7–10.9–3.88.03.28.014.522.510.911.06.0
Japan8.9–2.27.916.24.6–0.60.35.13.85.66.0
France6.9–3.83.85.2S 80.22.39.110.27.66.8
Germany, Fed. Rep. of5.65 3–0.39.25.91.32.87.47.73.72.8
Italy6.0–1.73.47.93.23.83.05.29.26.06.0
United Kingdom4.02.82.38.15.54.05.01.65.59.85.7
Other industrial countries5.41.25.98.65.22.86.46.66.24.35.0
All industrial countries6.1–2.02.99.94.43.15.18.87.116.35.2
Of which,
Seven major countries above6.4–3.01.910.34.13.14.69.77.37.15.2
European countries5.60.53.77.94.22.84.36.77.45.45.0
European Community5.70.73.17.83.93.14.46.97.65.85.1
Import volumes4
Canada8.6–16.511.119.710.48.16.213.64.81.32.6
United States4.6–3.712.924.94.513.45.96.55.83.51.4
Japan3.5–0.60.810.50.49.59.316.77.84.24.6
France6.73.0–1.63.14.37.16.79.310.78.26.6
Germany, Fed. Rep. of3.51.34.05.14.16.25.46.77.19.68.2
Italy3.81.7–1.910.84.17.610.86.98.35 45.6
United Kingdom2.85.68.711.43.27.17.013.37.81.82.5
Other industrial countries4.61.21.06.46.27.48.57.58.95.35.4
All industrial countries4.7–0.74.512.34.58.97.09.08.15.54.5
Of which,
Seven major countries above4.7–1.55.814.44.09.46.59.67.8S 54.1
European countries4.41.52.36.44.57.68.08.18.46.35 9
European Community4.51.62.06.34.27.78.58.68.56.76.3
Terms of trade3
Canada2.2–3.11.3–0.9–1.2–2.43.12.21.3–1.5–0.4
United States–3.43.03.31.9–2.2–0.3–6.92.01.0–2.4–1.7
Japan–6.30.83.22.04.434.51.02.4–4.24.6–0.8
France1.62.02 41.02.69.71.00.5–0.10.50.2
Germany, Fed. Rep. of–2.53.71.7–2.31.315.13.7–0.3–2.52.11.0
Italy–3.42.72.3–2.00.416.72.70.9–1.30.2–0.1
United Kingdom–0.7–0.5–1.70.9–5.11.10.82.80.70.4
Other industrial countries–0.41.3–0.11.30.44.10.41.20.40.40.7
All industrial countries–1.91.61.80.30.69.00.71.4–0.2–0.5–0.2
Of which,
Seven major countries above–2.61.72.3–0.10.710.70.91.5–0.5–0.7–0.4
European couniries–1.42.01.0–0.31.18.11.50.1–0.41.10.5
European Community–1.51.91.2–0.81.59.21.70.2–0.71.40.4

Trade in goods only.

Compound annual rates of change.

Composites for country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective merchandise exports over the preceding three years.

Composites for country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective merchandise imports over the preceding three years.

Trade in goods only.

Compound annual rates of change.

Composites for country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective merchandise exports over the preceding three years.

Composites for country groups are averages of percentage changes for individual countries weighted by the average U.S. dollar value of their respective merchandise imports over the preceding three years.

Table A23.Developing Countries: Merchandise Trade, 1972–91(Annual changes, in percent)
Average1
1972–811982198319841985198619871988198919901991
Developing countries
Value (in U.S. dollar terms)
Exports23.3–11.2–5.36.44.5–6.822.013.812.111.210.9
Imports22.0–7.3–6.50.5–3.5–0.114.617.911.610.412.2
Volume
Exports1.9–6.91.55.8–0.98.312.110.56.75.05.3
Imports8.0–4.3–3.11.61.4–3.07.210.68.64.16.3
Unit value (in U.S. dollar terms)
Exports21.0–4.6–6.70.5–3.6–13.98.83.05.15.95.3
Imports13.0–3.1–3.5–1.1–2.13.06.96.62.76.15.6
Terms of trade7.0–1.5–3.31.6–1.5–16.41.8–3.42.3–0.2–0.3
Purchasing power of exports29.1–8.4–1.97.5–2.4–9.514.26.79.24.85.0
Memorandum
Real GNP growth of trading partners4.30.83.55.53.23.84.65.23.85.23.4
Market prices (in U.S. dollar terms) of primary commodities (excluding petroleum) exported by developing countries10.5–9.96.94.2–12.9–1.23.418.4–1.7–8.0–0.1
Fuel exporters
Value (in U.S. dollar terms)
Exports28.4–17.915.5–1.2–9.9–33.220.8–1.520.416.812.9
Imports28.8–4.3–15.0–9.6–12.2–11.314.36.610.119.2
Volume
Exports–1.9–14.1–5.0–4.813.62.212.17.61.74.1
Imports15.9–1.8–12.68.0–10.8–19.8–7.46.15 46.514.2
Unit value (in U.S. dollar terms)
Exports30.9–4.4–11.1–1.2–5.3–41.118.1–12.111.914.88.4
Imports11.1–2.6–2.7–1.7–1.510.58.07.71.13.44.3
Terms of trade17.8–1.8–8.60.6–3.9–16.79.4–18.410.711.03.9
Purchasing power of exports215.6–15.7–13.20.5–8.5–39.511.8–8.619.012.98.2
Memorandum
Average spot oil price3–1.6–18.828.7–20.521.419.910.5
Real GNP growth of trading partners3.80.63.15.23.43.34 14.93.73.23.2
Export unit value (in U.S. dollar terms) of manufactures410.1–2.1–2.8–3.11.117.711.96.1–0.47.95.7
Non-fuel exporters
Value (in U.S. dollar terms)
Exports19.7–4.53.411.7–1.18.122.419.09.89.410.2
Imports19.8–8.7–2.34.9–0.33.618.718.812.710.510.8
Volume
Exports6.20.26.59.81.46.615.910.06.46.15.6
Imports5.3–5.61.75.72.13.111.411.79.33.64.6
Unit value (in U.S. dollar lerms)
Exports12.7–4.1–3.01.7–2.5I 45.68.23.23.14.3
Imports13.7–3.3–3.9–0.8–2.40.56.56.35.16.75.9
Terms of trade–0.8–1.51.02.5–0.10.8–0.91.70.1–3.3–1.5
Purchasing power of exports25.3–1.37.612.61.37.514.911.96.52.64.1
Memorandum
Real GNP growth of trading partners–5.90.93.75.53.13.94.75:3.75.13.4
Market price (in U.S. dollar terms) of primary commodities (excluding petroleum) exported by non-fuel exporters9.6–11.26.63.6–13.0–1.42.419.1–0.7–7.5–0.5
Gross reserves (end of period) as percentage of total imports of goods and services522.417.219.121.023.427.230.828.428.329.829.9

Compound annual rates of change. Excluding China.

Export earnings deflated by import prices.

Based on UK Brent, Dubai, and Alaska North Slope crude petroleum spot prices.

Exported by the industrial countries.

Gold holdings are valued at SDR 35 an ounce.

Compound annual rates of change. Excluding China.

Export earnings deflated by import prices.

Based on UK Brent, Dubai, and Alaska North Slope crude petroleum spot prices.

Exported by the industrial countries.

Gold holdings are valued at SDR 35 an ounce.

Table A24.Developing Countries: Export Volumes, 1972–91(Annual changes, in percent)
Average1
1972–811982198319841985198619871988198919901991
Developing countries1.9–6.91.55.8–0.98.312.110.56.75.05.3
By region
Africa–0.6–8 91.4–1.15.68.64.2–1.52.73.4
Asia10.51.49.313.83.213.320.213.19.28.37.0
Europe5.44.66.513.01.17.55.60.8–0.13.0
Middle East–2.6–17.8–10.3–4.8–7.114.13.414.76.2–1.23.7
Western Hemisphere2.5–1.07.67.81.0–2.87.710.34.84.15.3
By predominant export
Fuel–1.9–14.1–5.0–4.813.62.212.17.61.74.1
Non-fuel exports6.20.26.59.81.46.615.910.06.46.15.6
Manufactures9.72.39.915.43.46.919.012.17.16.05.9
Primary products1.70.7–0.60.65.76.45.33.45.17.45.5
Agricultural products2.0–1.6–0.7–0.16.37.85.66.84.810.13.8
Minerals1.55.7–0.42.14.53.34.8–2.85.62.49.2
Services and private transfers1.3–2.1–0.63.1–0.36.47.56.58.76.89.0
Diversified export base2.6–7.81.1–3.0–10.65.010.44.32.55.63.3
By financial criteria
Net creditor countries–0.8–17.5–6.9–3.8–7.218.25.89.05.04.75.7
Net debtor countries3.5–1.35.09.31.06.113.810.97.15.15.2
Market borrowers5.9–0.59.28.2–0.96.415.813.67.16.25.5
Diversified borrowers1.5–3.6–0.512.94.25.213.18.38.33.24.4
Official borrowers11.33.23.33.48.15.64.30.35.35.8
Countries with receni debt-servicing difficulties0.7–4.12.25.7–1.40.86.27.83.5–0.32.1
Countries without debt–servicing difficulties8.01.77.812.93.310.619.613.09.38.47.0
Miscellaneous groups
Sub-Saharan Africa0.3–1.7–1.42.1–0.312.75.7–2.62.84.94.8
Twelve major oil exporters–2.5–16.9–7.4–1.8–5.715.51.213.18.60.63.7
Net debtor fuel exporters–1.0–4.23.49.71.213.65.88.77.9–2.41.3
Four newly industrializing Asian economies15.32.514.616.14.120.623.214.18.36.55.8
Small low-income economies–0.25.42.1–1.83.21112.02.25.95.56.6
Fifteen heavily indebted countries2.4–3.15.28.21.7–0.16.09.85.34.95.1

Compound annual rates of change. Excluding China.

Compound annual rates of change. Excluding China.

Table A25.Developing Countries: Import Volumes, 1972-91(Annual changes, in percent)
Average1
1972–811982198319841985198619871988198919901991
Developing countries8.0–4.3–3.11.6–1.4–3.07.210.68.64.16.3
By region
Africa5.4–14.3–13.4–7.2–14.9–7.1–0.32.7–0.51.1–1.3
Asia8.82.19.17.77.82.115.519.013.66.36.1
Europe3.7–6.93.68.33.13.94.21.19.8–1.64.4
Middle East14.36.1–3.1–7.3–13.2–19.7–5.1–0.22.30.311.9
Western Hemisphere6.4–18.4–23.74.40.15.34.56.41.55.28.7
By predominant export
Fuel15.9–1.8–12.6–8.0–10.8–19.8–7.46.15.46.514.2
Non-fuel exports5.3–5.61.75.72.13.111.411.79.33.64.6
Manufactures6.6–3.36.09.38.45.213.614.112.34.86.4
Primary products3.215.0–9.5–0.9–4.15.87.21.61.70.4–0.8
Agricultural products2.5–14.3–7.60.5–3.35.96.60.9–0.90.9–0.8
Minerals4.7–16.5–13.8–1.5–6.45.68.73.58.3–0.7–0.9
Services and private transfers5.03.74.53.2–0.4–3.91.8–0.8–1.2–1.2
Diversified export base3.910.9–7.0–2.2–18.7–5.711.914.04.01.21.2
By financial criteria
Net creditor countries16.64.56.2–7.4–16.9–12.25.79.55.85.514.1
Net debtor countries6.7–6.1–5.13.92.0–1.37.510.89.13.95.0
Market borrowers7.7–10.1–7.94.8–4.64.514.315.012.56.65.6
Diversified borrowers7.5–3.7–3.52.19.9–7.72.37.67.83.25.5
Official borrowers3.10.4–1.05.41.50.81.45.50.2–5.41.0
Countries with recent debt-servicing difficulties5.9–13.4–17.8–0.3–5.2–2.9–0.15.53.00.34.1
Countries without debt-servicing difficulties7.71.87.17.07.2–0.212.413.812.45.75.5
Miscellaneous groups
Sub-Saharan Africa0.9–6.7–10.2–5.10.43.00.70.61.7–2.7–3.1
Twelve major oil exporters17.15.1–9.6–10.4–14.1–21.8–8.62.23.06.017.4
Net debtor fuel exporters14.4–7.6–25.9–1.90.5–16.0–7.612.46.07.58.6
Four newly industrializing Asian economies10.81.99.88.81.010.525.020.616.77.75.1
Small low-income economies0.73.3–4.63.13.71.3–0.15.02.7–2.82.2
Fifteen heavily indebted countries7.6–16.9–22.1–1.2–2.62.72.36.25.28.49.2

Compound annual rates of change. Excluding China.

Compound annual rates of change. Excluding China.

Table A26.Developing Countries: Export Unit Values, 1972–91(Annual changes, in percent, in terms of U.S. dollars)
Average1
1972–811982198319841985198619871988198919901991
Developing countries21.0–6.70.5–3.6–13.98.83.05.15.95.3
By region
Africa20.46.2–1.74.25.3–18.86.83.04.57.48.0
Asia12.8–5.0–3.61.8–4.3–2.69.07.84.32.83.8
Europe10.9–1.9–6.7–5.4–1.93.62.43.10.56.75.2
Middle East11.7–2.3–11.8–1.9–6.0–39.218.6–13.412.517.09.2
Western Hemisphere17.8–8.5–6.32.5–5.9–13.54.84.54.44.55.0
By predominant export
Fuel30.9–4.4–11.1–1.2–5.341.118.1–12.111.914.88.4
Non-fuel exports12.7–4.7–3.01.7–2.51.45.68.23.21.14.3
Manufactures11.2–4.2–4.9–0.3–3.23.26.67.73.63.34.0
Primary products12.6–9.00.45.4–6.3–2.0–1.211.42.1–2.12.2
Agricultural products13.4–8.40.18.9–6.61.1–5.96.71.3–1.53.8
Minerals11.0–10.50.9–1.6–5.5–3.49.620.73.6–3.3–1.5
Services and private transfers13.1–6.9–4.90.7–4.0–2.50.58.6–1.04.63.1
Diversified export base16.9–2.03.17.74.3–3.98.08.52.66.28.4
By financial criteria
Net creditor countries30.6–2.8–11.0–1.0–6.1–30.419.1–5.39.811.57.5
Net debtor couniries16.9–5.5–4.81.1–2.8–9.26.35.04.14.64.8
Market borrowers16.3–5.8–4.92.6–2.0–9.27.35.75.23.64.9
Diversified borrowers19.9–4.9–5.3–1.0–3.5–11.26.53.33.46.65.0
Official borrowers11.8–6.1–2.10.5–4.2–1.30.47.5–0.62.82.5
Couniries with recent debt-servicing difficulties18.4–6.2–4.11.9–1.7–13.26.73.54.66.66.2
Countries without debt-servicing difficulties14.6–1.6–5.40.2–3.7–5.66.06.03.83.43.9
Miscellaneous groups
Sub-Saharan Africa13.0–5.40.66.6–2.9–9.80.55.20.5–0.22.6
Twelve major oil exporters31.8–3.9–11.6–1.4–5.3–43.519.6–13.713.016.49.2
Net debtor fuel exporters27.7–7.9–9.5–0.4–4.2–39.914.6–7.111.312.37.1
Four newly industrializing Asian economies10.2–4.1–4.62.0–3.0–0.59.38.66.22.13.7
Small low-income economies11.7–7.73.18.0–6.7–3.45.68.50.21.31.9
Fifteen heavily indebted countries18.6–8.8–5.92.6–4.9–16.26.93.24.66.35.7

Compound annual rates of” change. Excluding China.

Compound annual rates of” change. Excluding China.

Table A27.Developing Countries: Import Unit Values, 1972–91(Annual changes, in percent, in terms of U.S. dollars)
Average1
1972–811982198319841985198619871988198919901991
Developing countries13.0–3.1–3.5–1.1–2.13.06.96.62.76.15.6
By region
Africa13.31.90.22.55.78.96.47.86.28.58.4
Asia13.4–5.6–5.0–0.1–4.71.17.27.52.54.74.9
Europe12.4–3.0–5.4–4.4–1.81.52.40.60.110.17.3
Middle East12.2–4.3–3.8–2.2–2.59.49.46.91.55.24.8
Western Hemisphere13.3–0.8–1.9–2.5–0.8–3.66.96.94.18.56.2
By predominant export
Fuel11.1–2.6–2.7–1.7–1.510.58.07.71.13.44.3
Non-fuel exports13.7–3.3–3.9–0.8–2.40.56.56.33.16.75.9
Manufactures13.6–4.7–5.1–1.4–3.50.26.76.52.45.95.0
Primary products12.7–2.3–3.10.6–1.32.97.06.73.17.98.0
Agricultural products13.2–0.5–2.41.3–1.61.66.27.53.07.88.2
Minerals11.7–6.1–4.8–1.1–0.46.28.94.63.58.27.4
Services and private transfers13.2–4.2–6.0–0.7–5.00.26.56.73.37.55.6
Diversified export base15.52.2150.93.90.85.14.67.210.810.0
By financial criteria
Net creditor countries11.9–5.0–5.4–0.7–3.27.510.710.0–0.44.24.6
Net debtor countries13.2–2.7–3.1–1.1–1.92.26.26.03.36.45.7
Market borrowers13.4–1.2–2.0–0.543.80.56.26.43.95.85.9
Diversified borrowers13.5–3.7–4.1–1.7–2.34.26.85.62.97.05.4
Official borrowers12.1–4.6–3.7–1.7–1.31.65.05.81.97.16.0
Countries with recent debt-servicing difficulties13.2–0.7–1.4–1.11.43.26.65.84.09.16.9
Countries without debt-servicing difficulties13.2–4.7–4.7–1.2–1.21.66.06.22.95.15.2
Miscellaneous groups
Sub-Saharan Africa14.0–2.71.11.2–2.36.910.17.13.27.97.5
Twelve major oil exporters10.8–3.7–3.2–2.1–1.712.58.38.10.53.34.2
Net debtor fuel exporters1.1.2–1.7–1.9–1.1–1.28.16.17.82.23.44.8
Four newly industrializing Asian economies13.4–6.0–6.11.2–4.70.68.07.82.14.34.7
Small low-income economies13.3–6.4–2.90.6–4.94.29.16.63.37.67.2
Fifteen heavily indebted countries13.0–2.2–1.8–1.90.6–1.86.96.63.78.96.0

Compound annual rates of change. Excluding China.

Compound annual rates of change. Excluding China.

Table A28.Developing Countries: Terms of Trade. 1972–91(Annual changes, in percent)
Average1
1972–811982198319841985198619871988198919901991
Developing countries7.0–1.5–3.31.6–1.5–16.41.8–3.42.3–0.2–0.3
By region
Africa6.3–8.0–1.81.6–0.3–25.40.5–1.4–1.6–1.0–0.4
Asia–0.50.61.51.90.5–3.61.70.31.71.8–1.0
Europe–1.31.1–1.4–1.1–0.12.12.50.3–3.1–2.0
Middle East17.32.1–8.30.3–3.644.58.5–19.010.811.24.1
Western Hemisphere4.0–7.8–4.45.1–5.1–10.3–2.0–2.20.2–3.7–1.1
By predominant export
Fuel17.8–1.8–8.60.6–3.9–46.79.4–18.410.711.03.9
Non-fuel exports–0.8–1.51.02.5–0.10.8–0.91.70.1–3.3–1.5
Manufactures–2.10.60.11.10.33.0–0.11.11.1–2.4–1.0
Primary products–0.1–6.93.74.7–5.1–1.7–7.74.4–1.0–9.3–5.4
Agricultural products0.2–7.92.67.5–5.1–2.9–11.4–0.8–1.6–8.6–4.1
Minerals–0.6–4.76.0–0.5–5.1–9.00.615.4–10.6–8.2
Services and private transfers–0.1–2.91.21.41.1–2.7–5.61.8–4.1–2.7–2.4
Diversified export base1.2–4.21.66.80.4–1.72.83.7–4.34.1–1.4
By financial criteria
Net creditor countries16.72.3–6.0–0.2–3.1–35.37.9–13.910.27.02.8
Net debtor couniries3.3–2.9–1.72.2–0.9–11.21.00.8–1.7–0.9
Market borrowers2.6–4.7–2.93.0–1.3–9.71.1–0.71.3–2.1–1.0
Diversified borrowers5.6–1.2–1.20.7–1.3–14.8–0.3–2.20.50.3–0.3
Official borrowers–0.3–1.61.72.20.1–2.9–4.31.7–2.4–4.0–3.3
Countries with recent debt-servicing difficulties4.7–5.5–2.83.1–3.0–15.90.1–2.20.5–2.3–0.7
Countries without debt-servicing difficulties1.20.1–0.71.40.5–7.1–0.1–1.6–1.2
Miscellaneous groups
Sub-Saharan Africa–0.8–2.81.75.4–0.6–15.6–8.7–1.8–2.6–7.5–4.6
Twelve major oil exporters18.9–0.2–8.70.8–3.7–49.810.4–20.112.412.7–4.6
Net debtor fuel exporters14.8–6.3–7.80.8–3.0–44.57.9–13.88.9–8.62.2
Four newly industrializing Asian economies–2.92.01.60.81.8–1.11.20.74.0–2.1–1.0
Small low-income economies–1.4–1.36.27.4–1.9–7.3–3.21.7–3.0–5.9–4.9
Fifteen heavily indebted countries4.9–6.8–4.14.6–5.4–14.6–3.20.8–2.4–0.2

Compound annual rates of change. Excluding China.

Compound annual rates of change. Excluding China.

Table A29.Developing Countries: Non-Fuel Commodity Prices, 1972–911
Average2
1972–811982198319841985198619871988198919901991
Non-fuel primary commodities310.59.96.94.2–12.9–1.23.418.41.7–8.0–0.1
By commodity group3
Food9.1–19.211.22.9–18.7–12.07.426.10.4–7.33.7
Beverages10.31.17.915.9–11.616.2–28.70.2–17.014.78.7
Agricultural raw materials14.9–6.64.84.3–14.8–1.129.48.2–0.74.52.7
Minerals and metals7.8–10.72.8–6.5^1.2–9.017.240.35.4–8.3–10.8
By region4
Africa4.7–10.07.74.1–10.01.00.814.2–0.9–5 4–3.2
Asiain. 6–15.17.59.8–20.4–9.517.017.1–2.6–10.22.7
Europe9.2–4.94.60.4–12.2–7.316.412.23.6–5.00.7
Middle East10.3–17.410.34.6–10.1–2.711.129.512.00.7
Western Hemisphere9.1–7.95.6–0.8–8.35.5–6.821.2–2.3–8.2–1.1
By predominant export4
Fuel11.2–8.27.45.7–13.42.57.81.2 2–6.811.31.9
Non-fuel exports9.6–11.26.63.6–13.0–1.42.419.1–0.7–7.5–0.5
Manufactures9.8–10.34.83.4–13.9–1.9–0.814.3–0.4–5.23.7
Primary products8.9–9.27.21.5–9.53.9–2.720.7–0.7–8.54.5
Agricultural products10.1–7.57.85.4–11.56.2–11.212.0–4.6–8.82.6
Minerals6.9–12.86. 1–7.5–4.1–1.519.137.25.4–8.2–14.6
Services and private transfers10.8–19.07.70.4–11.03.40.924.74.9–4.1–0.9
Diversified export base10.2–14.17.99.2–18.8–13.421.621.3–2.6–9.62.0
By financial criteria4
Net creditor countries10.4–21.911.33.0–21.6–0.418.627.3–2.0–7.7–1.9
Net debtor countries9.7–10.86.73.9–13.0–1.03.018.2–1.4–8.0–0.2
Market borrowers9.2–10.87.23.3–14.0–4.67.821.1–2.4–8.20.4
Diversified borrowers10.6–10.46.14.2–12.92.3–0.113.7–2.4–8.90.9
Official borrowers9.5–11.66.54.6–10.71.5–1.119.62.4–5.9–3.2
Countries with recent debt-servicing difficulties9.1–10.17.01.2–10.20.71.520.9–0.2–7.0–2.3
Countries without debt-servicing difficulties10.7–11.96.28.0–17.0–3.55.613.9–3.5–9.63.5
Miscellaneous groups4
Sub-Saharan Africa9.2–8.39.25.0–9.92.812.4–1.9–7.1–4.1
Twelve major oil exporters11.3–9.77.96.3–15.9–0.917.014.6–8.0–11.82.6
Net debtor fuel exporters11.2–7.87.35.8–13.22.57.611.8–7.0–11.42.0
Four newly industrializing Asian economies10.2–8.45.117.8–20.0–17.017.3111–4.6–10.98.6
Small low-income economies8.7–12.710.06.4–13.0–0.12.118.30.9–6.2–5.6
Fifteen heavily indebted countries9.1–8.76.42.3–10.91.5–1.918.9–1.8–8.4–0.7
Memorandum
Average spot oil price5–4.6–48.828.7–20.521.419.910.5
Export unit value of manufactures610.1–2.1–2.8–3.11.117.711.96.1–0.47.95.7

In U.S. dollar terms.

Compound annual rates of change.

Based on averages of component commodity price indices weighted by the U.S. dollar value of exports of each commodity from developing countries in 1979-81.

Based on averages of individual commodity price indices weighted according to the 1979-81 composition of commodity exports of the respective groups of developing countries.

Average of U.K. Brent, Dubai, and Alaska North Slope crude petroleum spot prices.

Exported by the industrial countries.

In U.S. dollar terms.

Compound annual rates of change.

Based on averages of component commodity price indices weighted by the U.S. dollar value of exports of each commodity from developing countries in 1979-81.

Based on averages of individual commodity price indices weighted according to the 1979-81 composition of commodity exports of the respective groups of developing countries.

Average of U.K. Brent, Dubai, and Alaska North Slope crude petroleum spot prices.

Exported by the industrial countries.

Table A30.Summary of Payments Balances on Current Account, 1982—911(In billions of U.S. dollars)
1982198319841985198619871988198919901991
Industrial countries–25.3–17.3–53.6–61.1–25.1–54.8–52.4–82.4–95.8–100.8
United States–5.9–40.199.0–122.3–145.4–162.3–128.9–110.0–97.0–99.7
Japan6.820.835.049.285.887.079.657.247.555.8
Germany, Fed. Rep. of5.15.39.916.539.745.850.455.448.938.4
Other industrial countries–31.4–3.30.6–44–5.3–25.2–53.6–85.0–95.3–95.3
Developing countries–76.4–57.1–26.7–21.9–41.81.7–14.0–15.9–1.8–10.9
By region
Africa–21.6–12.5–7.7–1.2–10.3–5.1–10.3–8.9–9 1–8.3
Asia–16.0–13.6–3.8–13.94.220.58.8–1.9–2.34.6
Europe–3.3–2.7–0.7–0.9–1.70.96.73.62.90.4
Middle East4.8–19.2–13.6–3.5–17.2–4.2–8.40.313.713.0
Western Hemisphere–10.3–9.1–0.8–2.4–16.7–10.4–10.8–8.9–10.1–11.4
By analytical criteria
Fuel exporters–14.3–15.7–0.63.4–31.8-1.1–20.7–6.011.911.0
Non-fuel exporters–62.0–41.5–26.1–25.3–10.05.96.7–9.8–16.7–21.9
Market borrowers–48.9–12.5–0.85.4–6.911.310.83.3–2.4–2.8
Official borrowers–17.7–11.9–13.2–12.8–11.9–11.8–14.4–16.8–13.0–13.8
Countries with recent debt-servicing difficulties–82.9–31.5–14.7–10.6–33.9–16.2–18.6–17.9–19.6–22.1
Countries without debt-servicing difficulties–22.4–24.7–15.5–24.1–15.6–3.0–11.8–12.1–13.6
Other countries26.57.78.55.74.710.37.40.1–4.4–8.2
Total3–95.266.8–71.8–79.2–62.2–42.7–59.0–98.2–104.9–119.9
(in percent of exports of goods and services)–3.8–2.7–2.8–3.1–2.2–1.3–1.5–2.3–2.2–2.2
Memorandum
Total, by selected categories
Trade balance–8.40.16.30.93.527.127.74.29.910.3
Timing asymmetry4–6.01.06.04.020.07.03.014.011.0
Residual asymmetry3.4–0.96.3–6.9–0.57.120.71.2–1.1–0.7
Balance on services–74.4–59.8–71.4–70.3–55.5–57.0–73.4–87.0–96.7–107.3
(in percent of services debits)–8.6–7.5–8.6–8.4–6.0–5.3–5.8–6.1–6.0–6.1
Private transfers, net–1.40.92.62.03.35.86.06.88.27.3
Official transfers, net–11.0–8.0–9.3–10.1–13.4–18.6–19.3–22.1–26.3–30.2

Including official transfers.

Covers estimated balances on current transactions only in convertible currencies of the U.S.SR. and nonmember countries of Eastern Europe.

Reflects errors, omissions, and asymmetries in reported balance of payments statistics on current account, plus balance of listed groups with countries not included.

Staff estimates of the difference between the beginning-of-year and end-of-year “float,” that is, the value of exports that have not yet been recorded as imports (usually because the goods are in transit or because of delays in the processing of the documentation). The estimates should be viewed only as rough orders of magnitude.

Including official transfers.

Covers estimated balances on current transactions only in convertible currencies of the U.S.SR. and nonmember countries of Eastern Europe.

Reflects errors, omissions, and asymmetries in reported balance of payments statistics on current account, plus balance of listed groups with countries not included.

Staff estimates of the difference between the beginning-of-year and end-of-year “float,” that is, the value of exports that have not yet been recorded as imports (usually because the goods are in transit or because of delays in the processing of the documentation). The estimates should be viewed only as rough orders of magnitude.

Table A31.Industrial Countries: Balance of Payments on Current Account, 1982–911(In billions of U.S. dollars)
1982198319841985198619871988198919901991
Balance on current account
Canada2.32.52.1-1.5-7.3-6.9-8.3-14.1-15.7-16.9
United Stales-5.9-10.1-99.0122.3145.4-162.3-128.9-110.0-97.0-99.7
Japan6.820.835.049.285.887.079.657.247.555.8
France-11.9-4.2-0.8-0.32.4-4.4-3.5-3.9-4.6-4.9
Germany, Fed. Rep. of5.15.39.916.539.745.850.455.448.938.4
Italy-6.21.5-2.5-3.72.6-1.5-6.0-10.5-11.3-11.7
United Kingdom8.05.72.54.20.1-6.0-26.0-31.3-26.6-21.6
Other industrial countries-23.7-8.8-0.8-3.0-3.0-6.4-9.7-25.3-37.0-40.3
All industrial countries-25.3-17.3-53.6-61.1-25.1-54.8-52.4-82.4-95.8-100.8
Of which,
Seven major countries above-1.7-8.5-52.8-58.0-22.2-48.4-42.6-57.2-58.8-60.5
European countries-18.76.818.124.453.136.916.42.1-11.8-23.7
European Community-19.62.610.718.651.236.617.26.2-3.7-16.6
Balance on goods, services, and private transfers
Canada2.02.42.3-1.2-7.4-6.4-7.9-13.7-14.7-16.3
United States0.2-33.7-90.3-111.1-133.5-152.0-118.1-99.1-86.6-89.3
Japan8.122.236.450.587.389.782.660.450.659.8
France-9.2-2.11.11.05.2-1.40.91.82.32.8
Germany, Fed. Rep. of11.110.616.122.647.055.861.567.063.654.7
Italy-5.71.5-2.6-3.55.60.7-3.2-7.0-7.0-6.8
United Kingdom11.28.65.38.53.4-0.6-20.2-24.3-19.5-13.2
Other industrial countries-23.7-9.1-1.4-3.9-3.9-7.412.8-29.3-42.8-16.7
All industrial countries-5.90.5-33.1-37.13.7-21.6-17.2-14.1-54.0-55.1
Of which,
Seven major countries above17.89.6-31.7-33.27.5-14.2-4.4-14.8-11.2-8.3
European countries-5.218.029.636.769.958.039.027.517.48.9
European Community-7.412.621.129.766.655.937.829.523.113.4
Memorandum
Balance on current account as percentage of GNP
Canada0.80.80.6-0.4-2.0-1.7-1.7-2.6-2.7-2.7
United States-0.2-1.2-2.6-3.0-3.4-3.6-2.6-2.1-1.8-1.7
Japan0.61.82.83.74.43.62.82.01.71.8
France-2.1-0.8-0.2-0.10.3-0.5-0.4-0.4-0.4-0.4
Germany, Fed. Rep. of0.80.81.62.64.44.14.24.63.32.3
Italy-1.50.4-0.6-0.90.4-0.2-0.7-1.2-1.1-1.0
United Kingdom1.61.20.60.9-0.9-3.1-3.7-2.8-2.0
Other industrial countries-2.1-0.8-0.1-0.3-0.2-0.4-0.5-1.3-1.5-1.5
All industrial countries-0.3-0.2-0.6-0.7-0.2-0.4-0.4-0.6-0.6-0.6
Of which,
Seven major countries above-0.1-0.7-0.7-0.2-0.4-0.4-0.5-0.4-0.4
European ceiuniries-0.60.20.60.81.30.70.3-0.2-0.3
European Community-0.70.10.40.71.50.80.40.1-0.1-0.2

Including official transfers.

Including official transfers.

Table A32.Industrial Countries: Current Account Transactions, 1982–91(In billions of U.S. dollars)
1982198319841985198619871988198919901991
Exports (f.o.b.)1,136.41,123.61,196.21,235.81,441.51,684.71,943.12,080.12,418.62,713.9
Imports (f.o.b.)1,166.61,151.71,249.61,285.31,453.51,717.11,956.52,120.62,457.22,742.1
Trade balance–30.2–28.2–53.4–49.5–12.0–32.4–13.4–10.5–38.5–28.3
Services receipts615.0568.8597.9608.9698.6838.1981.11,109.91,275.61,404.9
Services payments585.2534.5572.1590.8675.2820.1979.31,109.21,285.61,423.9
Balance on services29,834.425.918.123.418.01.70.6–9.9–19.0
Balance on goods and services–0.46.2–27.6–31.411.5–14.4–11.6–39.8–18.5–47.3
Private transfers, net–5.5–5.7–5.5–5.7–7.8–7.2–5.5–4.1–5.5–7.8
Official transfers, net–19.4–17.8–20.5–24.0–28.8–33.2–35.2–38.3–41.8–45.7
Balance on current account–25.3–17.3–53.6–61.1–25.1–54.8–52.4–82.4–95.8–100.8
Memorandum
Current account balance as percentage of GNP–0.3–0.2–0.6–0.7–0.2–0.4–0.4–0.6–0.6–0.6
Current account balance as percentage of exports of goods and services–1.4–1.0–3.0–3.3–1.2–2.2–1.8–2.6–2.6–2.4
Exports of goods and services1,751.41,692.41.794.11.844.72,140.12,522.82,924.23,190,03,694.34,118.7
Oil trade balance1–103.3–160.9–158.4–140.3–85.7–103.0–92.2–155.1–140.7–156 6

Figures shown are on a balance of payments basis with rough adjustments to those countries’ oil trade balance dala thai are only available on a trade returns basis.

Figures shown are on a balance of payments basis with rough adjustments to those countries’ oil trade balance dala thai are only available on a trade returns basis.

Table A33.Developing Countries: Summary of Payments Balances on Current Account, 1982–911(In billions of U.S. dollars)
1982198319841985198619871988198919901991
Developing countries–76.4–57.1–26.7–21.9–41.81.7–14.0–15.9–4.8–10.9
By region
Africa–21.6–12.5–7.7–1.2–10.3–5.1–10.3–8.9–9.1–8.3
Asia–16.0–13.6–3.8–13.94.220.58.8–1.9–2.3–1.6
Europe–3.3–2.7–0.7–0.9–1.70.96 73.62.90.4
Middle East4.8–19.2–13.6–3.5–17.2–4.2–8.40.313.713.0
Western Hemisphere–40.3–9.1–0.8–2.4–16.7–10.4–10.8–8.9–10.1–11.4
By predominant export
Fuel–14.3–15.7–0.63.4–31.8–4.1–20.7–6.011.911.0
Non-fuel exports–62.0–41.5–26.1–25.3–10.05.96.7–9.8–16.7–21.9
Manufactures–22.8–11.12.0–7.84.323.125.012.38.50.2
Primary products–19.0–14.9–13.4–10.6–11.5–15.7–13.8–13.9–17.1–16.6
Agricultural products–12.9–11.4–9.9–8.2–7.8–11.8–10.7–10.8–12.1–11.7
Minerals–6.2–3.5–3.4–2.4–3.7–3.9–3.1–3.2–5.0–1.9
Services and private transfers–6.7–6.2–7.3–6.5–5.1–5.5–6.6–6.7–6.5–4.6
Diversified export base–13.5–9.2–7.3–0.42.34.02.1–1.5–1.6–0.9
By financial criteria
Net creditor countries28.9–0.93.612.87.817.97.613.827.024.8
Net debtor countries–105.3–56.2–30.2–34.7–19.5–16.2–21.6–29.7–31.7–35.7
Market borrowers–48.9–12.5–0.85.4–6.911.310.83.3–2.4–2.8
Diversified borrowers–38.7–31.8–16.3–27.3–30.7–15.7–17.9–16.2–16.4–19.1
Official borrowers–17.7–11.9–13.2–12.8–11.9–11.8–14.4–16.8–13.0–13.8
Countries with recent debt-servicing difficulties–82.9–31.5–14.7–10.6–33.9–16.2–18.6–17.9–19.6–22.1
Countries without debt-servicing difficulties–22.4–24.7–15.5–24.1–15.6–3.0–11.8–12.1–13.6
Miscellaneous groups
Sub-Saharan Africa–8.3–5.8–3.1–3.4–5.7–6.5–8.0–7.8–8,8–8.3
Twelve major oil exporters–6.4–20.0–5.22.1–26.7–5.115.71.417.114 1
Net debtor fuel exporters–41.0–10.32.8–0.2–23.2–4.1–18.1–8.7–5.7–6.9
Four newly industrializing Asian economies–2.81.66.610.223.230.427.821.313 111.8
Small low-income economies–9.6–6.2–7.0–7.3–7.3–8.5–10.6–11.3–11.5–11.1
Fifteen heavily indebted countries–50.3–14.9–0.90.3–17.6–8.8–9.5–8.1–10.5–12.9

Including official transfers.

Including official transfers.

Table A34.Developing Countries: Summary of Payments Balances on Goods, Services, and Private Transfers, 1982–91(In billions of U.S. dollars)
1982198319841985198619871988198919911991
Developing countries–84.4–66.5–37.3–35.1–56.3–12.0–29.0–31.1–19.2–25.1
By region
Africa–25.1–16.1–11.3–5.5–15.4–10.2–16.1–15.0–15.2–14.3
Asia–18.8–16.4–6.9–16.71.017.25.0–5.7–5.5–7.9
Europe–3.5–3.0–1.0–1.2–2.00.56.33.02.70.2
Middle East4.1–21.0–16.3–8.1–21.9–7.3–11.5–3.010.59.9
Western Hemisphere–41.1–10.0–1.9–3.7–18.0–12.2–12.6–10.5–11.6–13.0
By predominant export
Fuel–9.7–11.92.46.2–29.8–1.7–18.8–4.613.312.5
Non-fuel exports–74.6–54.5–39.7–41.3–26.5–10.3–10.2–26,5–32.5–37.6
Manufactures–25.0–14.0–1.8–13.1–1.018.720.67.84.1–4.1
Primary products–22.5–18.5–17.1–14.5–16.2–20.8–19.5–19.6–22.6–22.1
Agricultural products–15.3–14.0–12.7–11.1–11.4–15.9–15.1–15.1–16.3–15.8
Minerals–7.2–4.5–4.4–3.3–4.8–5.0–4.4–4.5–6.3–6.3
Services and private transfers–10.4–9.6–10.7–10.5–9.3–9.6–10.8–10.8–10.1–8.1
Diversified export base–16.8–12.3–10.1–3.2–0.11.4–0.5–3.9–4.0–3.3
By financial criteria
Net creditor countries33.42.86.615.810.420.910.015.929.026.9
Net debtor countries–117.8–69.3–43.9–50.9–66.7–32.9–39.0–47.1–48.2–51.9
Market borrowers–49.5–13.1–1.34.6–7.910.59.92.4–3.2–3.7
Diversified borrowers–44.7–38.0–23.1–35.4–38.7–23.1–25.2–23.3–23.3–25.7
Official borrowers–23.6–18.2–19.6–20.1–20.1–20.3–23.7–26.1–21.8–22.5
Countries wilh recent debt servicing difficulties–88.8–37.9–21.0–17.7–41.6–24,4–27.0–26.5–28.0–30.4
Countries without debt servicing difficulties–29.0–31.4–22.9–33.2–25.1–8.5–12.0–20.5–20.2–21.5
Miscellaneous groups
Sub-Saharan Africa–11.5–9.1–6.5–7.1–10.1–11.4–13.4–13.4–14.3–13.8
Twelve major oil exporters–1.7–16.2–2.05.1–24.5–2.4–13.53.118.815.8
Net debtor fuel exporters–40.9–10.32.8–0.4–23.9–4.6–18.6–9.4–6.4–7.5
Four newly industrializing Asian economies–2.81.66.610.223.330.527.921 413.211.9
Small low-income economies–14.2–10.7–11.7–12.3–13.1–15,0–17.7–18.4–18.3–17.9
Fifteen heavily indebted countries–50.8–15.5–1.3–0.5–18.2–9.5–10.4–9.0–114–13.7
Table A35.Developing Countries: Current Account Balances as Percentage of Exports of Goods and Services, 1972–911(In percent)</
Average2
1972–811982198319841985198619871988198919901991
Developing countries1.0–11.0–8.7–3.9–3.3–6.60.2–1.6–1.7–0.5–0.9
Memorandum: Median estimate–13.0–21.5–21.1–12.7–11.5–13.2–13.5–10.4–10.7–11.1–8.5
By region
Africa–10.9–27.2–16.3–9.9–1.6–14.7–6.4–12.7–10.2–9.4–8.0
Asia–6.7–7.6–6.2–1.6–5.71.66.02.1–0.4–0.4–0.8
Europe–15.7–5.7–4.6–1.1–1.5–2.71.28.24.23.20.4
Middle East26.32.2–10.4–7.9–2.3–14.4–3.1–6.10.27.96.8
Western Hemisphere–20.6–32.9–7.7–0.6–1.9–15.2–8.6–7.9–5.9–6.2–6.4
By predominant export
Fuel17.8–4.7–6.1–0.21.5–18.82.2–10.8–2.74.63.9
Non-fuel exports–14.1–15.8–10.4–6.0–5.8–2.11.01.0–1.3–2.1–2.5
Manufactures–14.3–9.1–4.30.7–2.71.35.85.22.31.4
Primary products–18.2–36.2–29.6–25.3–20.2–20.8–26.9–21.0–19.7–23.0–20.7
Agricultural products–15.3–35.9–33.2–27.1–22.5–20.0–29.8–24.1–22.7–23.7–21.3