Chapter

Statistical Appendix

Author(s):
International Monetary Fund. Research Dept.
Published Date:
January 1991
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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 27, 1991. The estimates and projections for 1991 and 1992 are based on a number of assumptions and working hypotheses:

1. Real effective exchange rates are assumed to remain constant at their average level during August 1–22, 1991, except for the bilateral exchange rates among the ERM currencies, which are assumed to remain constant in nominal terms.

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

3. The price of oil will average $18.43 a barrel in 1991 and $18.61 a barrel in 1992. In the medium term, the oil price is assumed to remain unchanged in real terms.

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 1991 and 1992, the exchange rate assumptions specified above imply average U.S. dollar/ SDR conversion rates of 1.354 and 1.321, respectively. For the Eastern European countries, external transactions in non-convertible currencies through 1990 are converted to U.S. dollars at the implicit U.S. dollar/ruble rates from national currency exchange rates for the U.S. dollar and the ruble.

Classification of Countries1

Revisions to the Classification

A number of revisions to the World Economic Outlook (WEO) country classification were introduced in the spring 1991 WEO; the main features of these revisions are recapitulated below. In addition, this report includes data for a new group, the least developed countries.

1. The industrial and developing country groups now comprise virtually all countries in the world, whereas prior to 1991 they were limited to Fund member countries (plus Switzerland). Hence, the group previously denoted as “other countries” is no longer used.2 At present, however, there is not a complete correspondence between the WEO classification of countries and the coverage of countries in the WEO data base because WEO data are not yet available for a number of countries (including Angola, Mongolia, Namibia, and the Kingdom of the Netherlands: Aruba).

2. Two new member countries in Eastern Europe (Bulgaria and the Czech and Slovak Federal Republic) and the Union of Soviet Socialist Republics were added to the group of developing countries and allocated to the analytical subgroups according to the relevant criteria.

3. The classification of countries by type of creditor is now made on the basis of the stock of debt at the end of 1989, instead of the end of 1987, as previously.

4. The revised group of countries with recent debt-servicing difficulties now comprises those countries that experienced such difficulties over the five-year period 1986–90, instead of during the period 1986–88, as had been the case prior to 1991.

An additional “miscellaneous group,” the least developed countries, is being introduced in the current WEO report. The country composition of this group corresponds to the one presently employed by the United Nations; it is expected to change following the finalization by the United Nations of a revised country composition.

Summary of the Country Classification

Tables A and B provide an overview of industrial and developing countries, respectively, by standard WEO groups, showing the number of countries in each group as well as shares of subgroups in aggregate GDP, exports of goods and services, and total debt outstanding (industrial countries, developing countries, and world as applicable) for the three-year period of 1987–89.

The group of industrial countries (23 countries) comprises:

AustraliaFinlandIreland
AustriaFranceItaly
BelgiumGermanyJapan
CanadaGreeceLuxembourg
DenmarkIcelandNetherlands
New ZealandSpainUnited Kingdom
NorwaySwedenUnited States
PortugalSwitzerland
Table A.Classification of Countries by Standard WEO Group, and Shares of Subgroups in Aggregate GDP and Exports of Goods and Services, 1987–89
Percentage of
Total GDP ofTotal exports of
Number of Coun-goods and services of
tries Included

in Group
Industrial

countries
WorldIndustrial

countries
World
World161100.0100.0
Industrial countries23100.076.2100.073.9
United States35.527.118.213.4
Japan20.015.312.69.3
Germany8.66.613.610.1
France6.85.29.16.7
United Kingdom5.74.410.17.5
Italy6.04.66.04.4
Canada3.62.74.63.4
Other industrial countries1613.810.525.819.1
Industrial country groups
Seven major industrial countries786.265.774.254.8
European countries1838.929.662.946.7
European Community1234.025.953.739.8
Industrial countries except the United States, Japan, and Germany2035.927.355.741.3
Industrial countries except the United States2264.549.281.960.8
Seven major industrial countries except the United States650.738.656.041.5
Major European industrial countries427.120.738.828.8
Table B.Classification of Countries by Standard WEO Group, and Shares of Subgroups in Aggregate GDP, Exports of Goods and Services, and Total Debt Outstanding, 1987–89
Percentage of
Total exports of
Number ofTotal GDP ofgoods and services ofTotal debt of
Countries

Included

Developing

countries
WorldDeveloping

countries
WorldDeveloping

countries
Developing countries138100.023.8100.026.2100.0
By region
Africa509.42.27.92.116.4
Asia2930.47.240.510.625.1
Europe1025.26.024.16.314.4
Middle East1511.02.614.13.712.3
Western Hemisphere3424.05.713.43.531.8
By predominant export
Fuel1920.34.820.05.226.4
Non-fuel exports11979.719.080.021.073.6
Manufactures1745.510.848.812.835.7
Primary products559.32.26.31.718.2
Agricultural products417.71.84.31.113.3
Minerals141.60.42.00.54.9
Services and private transfers332.70.63.61.07.6
Diversified export base1422.35.321.25.512.1
By financial criteria
Net creditor countries810.22.416.44.34.7
Net debtor countries13089.921.483.621.995.3
Market borrowers2760.514.459.815.647.4
Diversified borrowers3219.14.516.14.225.9
Official borrowers7110.22.47.72.122.0
Countries with recent debt-servicing difficulties7539.19.327.37.258.2
Countries without debt-servicing difficulties5550.712.156.314.737.1
Miscellaneous groups
Sub-Saharan Africa453.30.82.80.78.4
Twelve major oil exporters1215.13.616.04.216.2
Net debtor fuel exporters1212.83.010.62.822.6
Four newly industrializing Asian economies47.91.925.36.64.3
Small low-income economies454.61.12.60.79.3
Least developed countries412.30.61.50.44.9
Fifteen heavily indebted countries1527.46.515.94.237.2
Eastern Europe and the U.S.S.R.723.45.622.15.811.2
Of which:
Eastern Europe66.61.68.32.27.7

The seven largest countries in this group in terms of GNP—the United States, Japan, 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 except 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.3 They are:

BelgiumGreeceNetherlands
DenmarkIrelandPortugal
FranceItalySpain
GermanyLuxembourgUnited Kingdom

Although Germany now includes both west Germany and the former German Democratic Republic, economic data are not available on a consolidated basis in a uniform manner. In particular, WEO data on national accounts and domestic economic and financial activity cover west Germany only, whereas data for the central government, foreign trade, and balance of payments refer to all of Germany from July 1, 1990; general government data from January 1, 1991 also cover unified Germany.

The group of developing countries (138 countries) includes all other countries, together with certain dependent territories for which adequate statistics are also available. The regional breakdowns of developing countries conform to the classification 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. It should also be noted that the Soviet Union is included in Europe. However, no data are reported for this country in the IFS.

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

The first analytical criterion, by predominant export, distinguishes among five groups: fuel (Standard International Trade Classification—SITC 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 between 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 recent experience with debt servicing.

The country groups shown under the heading “Miscellaneous groups” constitute sub-Saharan Africa;4 12 major oil exporters; net debtor fuel exporters; four newly industrializing Asian economies; small low-income economies; least developed countries; 15 heavily indebted countries; and two groups composed of the Eastern European countries—Eastern Europe and the U.S.S.R., and Eastern Europe.

Detailed Description of the Developing Country Classification by Analytical Group

Countries Classified by Predominant Export

Fuel (19 countries). Countries whose average ratio of fuel exports to total exports in 1984–86 exceeded 50 percent are assigned to the fuel category. The group comprises:

AlgeriaIran, IslamicNigeria
AngolaRep. ofOman
CameroonIraqQatar
CongoKuwaitSaudi Arabia
EcuadorLibyan ArabTrinidad and Tobago
GabonJamahiriyaUnited Arab Emirates
IndonesiaMexicoVenezuela

Non-Fuel Exports (119 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. Those countries whose export structure is so diversified that they do not fall clearly into any one of these three groups are assigned to a fourth group, (d) diversified export base.

a. Economies whose exports of manufactures accounted for over 50 percent of their total exports on average in 1984–86 are included in the group of exporters of manufactures (17 countries). This group comprises:

BrazilHungarySingapore
BulgariaIndiaTaiwan Prov. of China
ChinaIsraelThailand
Czech and SlovakKoreaTunisia
Fed. Rep.PolandTurkey
Hong KongRomaniaYugoslavia

b. The group of exporters of primary products (55 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 on average in 1984–86.5 These countries are:

AfghanistanCentral African Rep.Côte d’Ivoire
ArgentinaChadDjibouti
BhutanChileDominica
BoliviaColombiaEl Salvador
BotswanaComorosEquatorial Guinea
BurundiCosta RicaGambia, The
GhanaMauritaniaSomalia
GuatemalaMauritiusSri Lanka
GuineaMongoliaSt. Vincent and the
Guinea-BissauMyanmarGrenadines
GuyanaNamibiaSudan
HondurasNicaraguaSuriname
KenyaNigerSwaziland
Lao People’s Dem.Papua New GuineaTogo
Rep.ParaguayUganda
LiberiaPeruUruguay
MadagascarRwandaViet Nam
MalawiSäo Tomé and PrincipeZaïre
MaliSolomon IslandsZambia

Among primary products, a further distinction is made between agricultural products and minerals. The group of mineral exporters (14 countries) comprises:

BoliviaLiberiaSuriname
BotswanaMauritaniaTogo
ChileNamibiaZaire
GuineaNigerZambia
GuyanaPeru

All other exporters of primary products are classified as agricultural exporters (41 countries).

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

Antigua and BarbudaFijiNetherlands Antilles
ArubaGrenadaPakistan
Bahamas, TheJamaicaPanama
BarbadosJordanSeychelles
Burkina FasoKiribati, Rep. ofSt. Kitts and Nevis
CambodiaLebanonSt. Lucia
Cape VerdeLesothoTanzania
CyprusMaldivesTonga
Dominican RepublicMaltaVanuatu
EgyptMozambiqueWestern Samoa
EthiopiaNepalYemen, Rep. of

d. Countries with a diversified export base (14 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:

BahrainMalaysiaSouth Africa
BangladeshMoroccoSyrian Arab Republic
BelizePhilippinesU.S.S.R.
BeninSenegalZimbabwe
HaitiSierra Leone

Countries Classified by Financial Criteria

Net creditor countries (8 countries) are defined as developing countries that 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:

Iran, Islamic Rep. ofOmanUnited Arab Emirates
KuwaitQatar
Libyan ArabSaudi Arabia
JamahiriyaTaiwan Prov. of China

Net debtor countries (130 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 (27 countries) are defined as net debtor countries with more than two thirds of their total liabilities outstanding at the end of 1989 owed to commercial creditors. They comprise:

AlgeriaHong KongPeru
Antigua and BarbudaHungaryRomania
ArgentinaIsraelSingapore
Bahamas. TheKiribati, Rep. ofSuriname
BrazilKorea, Rep. ofThailand
BulgariaMalaysiaTrinidad and Tobago
ChileMexicoUruguay
ChinaPanamaU.S.S.R.
Czech and SlovakPapua New GuineaVenezuela
Fed, Rep.

Official borrowers (71 countries) are defined as net debtor countries with more than two thirds of their total liabilities outstanding at the end of 1989 owed to official creditors. This group comprises:

AfghanistanGrenadaNiger
ArubaGuineaNigeria
BangladeshGuinea-BissauPakistan
BelizeGuyanaPoland
BhutanHaitiRwanda
BoliviaHondurasSäo Tomé and Principe
BotswanaJamaicaSomalia
Burkina FasoLao People’s Dem.St. Kitts and Nevis
BurundiRep.St. Lucia
CambodiaLesothoSt. Vincent and the
CameroonMadagascarGrenadines
Cape VerdeMalawiSudan
Central African RerMaldivesSwaziland
ChadMaliTanzania
ComorosMaltaTogo
DjiboutiMauritaniaTonga
DominicaMauritiusTunisia
Dominican RepublicMongoliaUganda
EgyptMoroccoViet Nam
El SalvadorMozambiqueWestern Samoa
Equatorial GuineaMyanmarYemen, Rep. of
EthiopiaNamibiaZaire
GabonNepalZambia
Gambia. TheNetherlands Antilles
GhanaNicaragua

Diversified borrowers (32 countries) consist of those net debtor developing countries classified neither as market nor official borrowers:

AngolaGuatemalaSeychelles
BahrainIndiaSierra Leone
BarbadosIndonesiaSolomon Islands
BeninIraqSouth Africa
ColombiaJordanSri Lanka
CongoKenyaSyrian Arab Republic
Costa RicaLebanonTurkey
Côte d’IvoireLiberiaVanuatu
CyprusParaguayYugoslavia
EcuadorPhilippinesZimbabwe
FijiSenegal

b. By experience with debt servicing

Countries with recent debt-servicing difficulties (75 countries) are defined as those countries that incurred external payments arrears or entered official or commercial bank debt rescheduling agreements during 1986–90. 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 countries without debt-servicing difficulties (55 countries).

Miscellaneous Groups

Sub-Saharan Africa comprises all African countries as defined in the Fund’s International Financial Statistics, except Algeria, Morocco, Nigeria, South Africa, and Tunisia.

The group of 12 major oil exporters comprises:

AlgeriaLibyan ArabSaudi Arabia
IndonesiaJamahiriyaUnited Arab Emirates
Iran, Islamic RepNigeriaVenezuela
IraqOman
KuwaitQatar

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

The net debtor fuel exporters are those 12 fuel exporters that are not net creditor countries:

AngolaEcuadorMexico
AlgeriaGabonNigeria
CameroonIndonesiaTrinidad and Tobago
CongoIraqVenezuela

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:

AfghanistanGuyana6Rwanda
BangladeshHaitiSâo Tomé and Principe
BeninKenyaSenegal
BhutanLao People’sSierra Leone
Burkina FasoDem. Rep.Somalia
BurundiLesothoSri Lanka
CambodiaMadagascarSudan
Central African Rep.MalawiTanzania
ChadMaldivesTogo
ComorosMaliUganda
Equatorial GuineaMauritaniaVanuatu
EthiopiaMozambiqueViet Nam
Gambia, TheMyanmarZaire
GhanaNepalZambia
GuineaNiger
Guinea- BissauPakistan

The countries currently classified by the United Nations as the least developed countries (41 countries) are:7

AfghanistanBotswanaCentral African Rep.
BangladeshBurkina FasoChad
BeninBurundiComoros
BhutanCape VerdeDjibouti
Equatorial GuineaLiberiaSao Tomé and Principe
EthiopiaMalawiSierra Leone
Gambia, TheMaldivesSomalia
GuineaMaliSudan
Guinea-BissauMauritaniaTanzania
HaitiMozambiqueTogo
Kiribati, Rep. ofMyanmarUganda
Lao People’sNepalVanuatu
Dem. Rep.NigerWestern Samoa
LesothoRwandaYemen, Rep. of

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

The Eastern Europe and the U.S.S.R. group comprises:

BulgariaHungaryU.S.S.R.
Czech and SlovakPolandYugoslavia
Fed. Rep.Romania

The above countries, excluding the U.S.S.R., form the group Eastern Europe.

List of Tables

Medium-term baseline scenario

Table A1.World Output1(Annual changes, in percent)
Average2
1973–921983198419851986198719881989199019911992
World3.02.54.53.53.13.54.43.32.20.92.8
Industrial countries2.52.04.83.42.73.44.53.32.61.32.8
United States2.03.66.83.42.73.44.52.51.0-0.33.0
Japan3.92.84.35.22.64.36.24.75.64.53.4
West Germany1.91.93.11.82.21.53.73.84.53.12.0
Other industrial countries2.71.83.03.12.93.23.93.32.00.62.4
Developing countries4.52.13.93.64.03.83.93.21.0-0.62.9
By region
Africa2.9-0.90.84.01.61.0-4.13.52.13.23.3
Asia5.77.98.46.96.88.19.05.45.55.05.2
Europe4.32.92.71.63.62.84.31.9-2.7-9.6-3.3
Middle East4.90.10.41.4-0.21.6-1.14.60.7-4.011.2
Western Hemisphere4.3-2.83.73.34.72.40.21.4-0.91.22.2
By analytical criteria
Fuel exporters4.9-1.41.22.40.70.70.74.12.50.48.1
Non-fuel exporters4.43.44.94.15.14.84.93.00.7-0.81.7
Market borrowers5.02.55.24.15.04.54.12.60.4-0.91.3
Official borrowers3.01.21.45.13.62.35.03.31.21.13.2
Countries with recent debt-servicing difficulties3.8-2.32.93.34.12.81.22.3-2.1-2.03.7
Countries without debt-servicing difficulties4.95.65.54.45.15.56.73.72.5-0.51.6
Memorandum
Eastern Europe and the U.S.S.R.4.32.92.41.43.32.64.31.9-3.6-10.6-3.9
Of which,
Eastern Europe3.92.14.62.73.31.71.2-0.7-7.9-12.02.1
Four newly industrializing
Asian economies8.19.69.74.411.012.29.66.36.76.26.1

Real GDP. For a few industrial countries and—historically—for some Eastern European developing countries, total output is measured by real GNP and real net material product (NMP), respectively. Composites for the country groups are averages of percent 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.

Compound annual rates of change. Excluding China.

Real GDP. For a few industrial countries and—historically—for some Eastern European developing countries, total output is measured by real GNP and real net material product (NMP), respectively. Composites for the country groups are averages of percent 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.

Compound annual rates of change. Excluding China.

Table A2.Industrial Countries: Real GNP and Total Domestic Demand1(Annual changes, in percent)
Average2Fourth Quarter3
1973–921983198419851986198719881989199019911992199019911992
Real GNP
Canada43.43.26.34.83.34.24.72.50.5-0.93.8-1.11.14.2
United States2.03.66.83.42.73.44.52.51.0-0.33.00.50.73.5
Japan3.92.84.35.22.64.36.24.75.64.53.44.83.74.3
France42.80.71.31.92.52.34.23.92.81.32.41.92.12.5
West Germany1.91.93.11.82.21.53.73.84.53.12.05.21.33.6
Italy43.41.02.72.62.93.14.13.02.01.32.51.11.82.5
United Kingdom51.43.72.23.63.94.84.32.30.8-1.82.4-1.20.32.6
Other industrial countries2.21.53.53.22.52.93.33.72.41.42.1
All industrial countries2.52.64.83.42.73.44.53.32.61.32.8
Of which,
Seven major countries above2.62.85.03.42.83.44.73.32.61.32.91.91.63.5
European countries2.41.82.52.52.72.73.83.42.71.32.2
European Community2.51.72.42.42.82.73.93.52.81.42.3
Real total domestic demand
Canada3.53.64.75.34.25.35.23.8-0.2-0.83.2-2.01.43.7
United States1.75.18.73.83.33.03.31.90.5-0.93.3-0.50.93.7
Japan3.41.83.64.13.75.17.65.75.83.94.04.34.34.0
France2.5-0.70.42.54.53.34.43.53.21.32.42.01.53.5
West Germany1.42.31.90.93.32.63.62.75.03.52.24.61.43.9
Italy2.50.23.52.83.04.14.43.01.91.42.81.32.62.8
United Kingdom1.24.92.52.74.65.37.83.3-0.1-3.12.3-1.3-0.72.9
Other industrial countries2.10.22.73.63.43.43.74.62.41.12.2
All industrial countries2.12.85.13.53.63.64.63.42.40.93.0
Of which,
Seven major countries above2.13.35.53.43.63.74.73.22.40.93.11.41.83.6
European countries1.91.31.92.43.93.64.53.52.81.22.3
European Community1.91.31.82.23.93.74.73.52.91.32.5

Composites for the country groups are averages of percent 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 percent 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 GNP1(Annual changes, in percent)
Average2

1973–92
1983198419851986198719881989199019911992
Consumer expenditure
Canada3.53.44.65.24.44.44.13.21.3-0.33.2
United States2.44.74.84.73.92.83.61.90.90.33.0
Japan3.93.42.73.43.44.25.24.44.02.64.0
France3.00.91.12.43.92.93.43.23.11.92.6
West Germany2.11.31.61.53.43.32.81.54.92.91.9
Italy3.90.72.03.03.74.24.23.62.72.12.8
United Kingdom1.44.51.63.56.25.27.43.51.0-0.81.7
Other industrial countries2.30.81.43.33.23.12.73.12.61.72.0
All industrial countries2.73.03.13.83.83.43.92.82.41.32.8
Of which,
Seven major countries above2.73.43.43.83.93.44.12.82.41.23.0
European countries2.41.51.42.64.03.63.72.83.01.82.2
European Community2.5l.51.42.54.13.73.93.03.21.82.2
Public consumption
Canada3.41.41.23.21.61.74.02.93.1-0.9-1.5
United States1.21.14.47.94.22.30.22.32.81.20.4
Japan4.43.02.71.74.50.42.22.11.42.31.9
France3.32.11.12.31.72.82.90.23.11.51.5
West Germany2.60.22.52.12.51.52.2-1.62.00.80.7
Italy2.63.42.33.42.63.42.80.91.00.52.0
United Kingdom1.82.01.01.81.20.60.92.82.71.5
Other industrial countries3.52.61.83.32.83.01.92.32.31.71.3
All industrial countries2.41.83.04.73.52.01.41.62.31.41.0
Of which,
Seven major countries above2.21.63.24.93.51.91.31.52.31.41.0
European countries2.91.81.62.22.32.52.00.62.21.41.3
European Community2.91.71.62.12.32.62.10.52.21.31.3
Gross fixed investment
Canada4.8-0.72.19.56.210.810.45.6-3.3-3.35.9
United States0.68.216.85.31.01.95.61.6-0.1-6.23.3
Japan2.3-1.04.75.34.89.611.98.910.96.14.4
France0.9-3.6-2.63.24.54.88.67.54.00.22.5
West Germany-0.63.30.33.62.14.67.28.77.54.5
Italy0.6-0.63.60.62.25.06.94.63.0-1.03.2
United Kingdom-0.35.08.54.02.49.613.16.8-2.4-11.8-1.0
Other industrial countries0.3-1.23.54.95.94.97.88.21.2-0.32.9
All industrial countries0.93.18.64.62.94.67.85.43.3-1.23.3
Of which,
Seven major countries above1.03.99.54.52.54.67.85.03.6-1.33.4
European countries0.10.82.22.44.55.18.07.13.32.6
European Community0.10.51.82.44.25.18.37.14.10.22.9
Final domestic demand
Canada3.82.23.45.64.25.15.53.70.6-1.12.9
United States1.84.56.65.43.52.63.31.91.1-0.62.5
Japan3.52.13.33.83.95.47.05.66.03.84.0
France2.60.20.32.53.63.34.43.53.31.52.4
West Germany1.61.51.51.33.32.73.02.05.23.52.2
Italy2.90.92.42.53.24.24.53.42.51.22.8
United Kingdom1.24.02.62.84.65.27.13.70.7-2.21.2
Other industrial countries2.10.61.93.53.63.53.64.12.21.22.1
All industrial countries2.22.74.04.13.63.54.43.32.81.02.6
Of which,
Seven major countries above2.23.04.34.23.63.54.53.22.91.02.7
European countries2.01.41.52.43.83.74.23.32.91.42.1
European Community2.01.31.42.43.73.74.43.33.21.52.2
Stockbuilding3
Canada-0.21.31.3-0.30.10.1-0.20.1-0.90.30.3
United States-0.10.62.1-1.5-0.10.5-0.7-0.30.7
Japan-0.40.30.4-0.1-0.30.60.2-0.10.1
France-0.9-0.10.90.10.1-0.1-0.1
West Germany-0.10.70.4-0.30.1-0.10.50.7-0.1
Italy-0.3-0.61.20.3-0.1-0.3-0.60.20.1
United Kingdom0.8-0.1-0.10.10.7-0.3-0.8-1.01.1
Other industrial countries-0.50.80.1-0.3-0.10.10.60.2-0.10.2
All industrial countries-0.10.21.1-0.60.20.20.1-0.4-0.10.4
Of which,
Seven major countries above-0.10.31.2-0.70.20.20.1-0.5-0.10.4
European countries-0.1-0.10.40.10.30.2-0.1-0.20.2
European Community-0.10.4-0.10.20.30.2-0.3-0.10.2
Foreign balances3
Canada-0.40.5-0.5-0.7-0.9-0.9-1.30.80.40.6
United States0.3-1.5-2.0-0.6-0.70.31.10.50.50.6-0.3
Japan0.41.10.81.2-1.0-0.6-1.2-0.9-0.20.7-0.6
France0.21.41.0-0.5-1.9-1.1-0.30.3-0.4
West Germany0.4-0.41.20.9-1.0-1.00.21.2-0.3-0.3-0.2
Italy0.20.7-0.9-0.2-0.1-1.1-0.5-0.1-0.1-0.4
United Kingdom0.4-1.1-0.80.9-0.5-0.6-3.6-1.11.01.4
Other industrial countries0.11.30.5-0.2-1.0-0.6-0.5-1.20.10.4-0.1
All industrial countries0.3-0.2-0.5-0.8-0.3-0.1-0.10.20.5-0.2
Of which,
Seven major countries above0.3-0.5-0.7-0.8-0.30.20.5-0.3
European countries0.30.50.40.1-1.1-0.9-0.7-0.10.1-0.1
European Community0.30.50.40.1-1.1-0.9-0.7-0.10.1-0.1

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

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

Table A4.Industrial Countries: Employment, Unemployment, and Real Per Capita GNP(in percent)
Average1
1973–921983198419851986198719881989199019911992
Growth in employment2
Canada2.40.52.42.62.82.93.22.00.7-2.42.1
United States1.91.34.12.02.32.62.32.00.5-0.51.6
Japan1.01.70.60.70.81.01.71.92.01.70.8
France0.3-0.4-0.9-0.30.10.30.81.21.10.4
West Germany-0.1-1.40.20.71.411.70.81.42.81.81.0
Italy0.70.30.40.50.6-0.11.3-0.51.40.6
United Kingdom-0.3-0.22.21.10.32.33.32.60.3-2.4-0.7
Other industrial countries0.3-0.60.61.12.41.52.21.91.40.10.5
All industrial countries1.10.52.11.41.71.82.01.81.20.10.9
Of which,
Seven major countries above1.20.72.31.41.61.81.91.81.20.11.0
European countries0.1-0.50.30.61.01.01.61.31.50.20.4
European Community0.1-0.60.30.50.91.01.51.41.60.20.4
Unemployment rates3
Canada7.511.811.210.59.58.97.87.58.110.210.0
United States7.09.67.57.27.06.25.55.35.56.86.3
Japan1.92.72.72.62.82.82.52.32.12.12.2
France5.28.39.710.510.410.510.09.59.09.59.7
West Germany3.67.97.98.07.67.67.66.86.25.75.9
Italy7.69.910.010.311.112.012.012.011.011.010.8
United Kingdom4.710.510.710.911.110.08.16.35.88.59.5
Other industrial countries5.210.811.010.910.410.09.58.78.59.39.5
All Industrial countries5.28.68.08.07.87.46.46.46.27.07.0
Of which,
Seven major countries above5.38.17.47.37.36.96.35.95.76.66.5
European countries5.29.710.110.410.310.19.58.78.18.79.0
European Community5.510.410.911.211.110.910.29.38.79.39.5
Growth in real per capita GNP2
Canada2.22.35.54.02.53.13.51.2-0.9-2.22.5
United States0.92.65.82.41.82.53.51.5-0.1-1.22.0
Japan2.92.13.74.52.13.85.84.35.44.02.8
France2.20.20.9t.52.11.83.73.42.40.92.0
West Germany1.92.23.52.12.11.43.12.93.62.61.5
Italy3.00.73.52.32.83.03.92.91.81.12.4
United Kingdom1.43.62.03.33.74.54.02.01.0-1.92.3
Other industrial countries1.61.23.22.62.02.32.83.11.90.91.7
All industrial countries1.82.14.22.82.12.73.82.61.90.72.1
Of which,
Seven major countries above1.82.24.42.82.12.84.02.61.90.62.2
European countries2.11.72.52.32.52.43.42.92.31.01.9
European Community2.21.62.42.22.52.53.63.02.51.12.0

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 percent 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 percent 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 GDP1(Annual changes, in percent)
Average2

1973–92
1983198419851986198719881989199019911992
Developing countries4.52.13.93.64.03.83.93.21.0–0.62.9
By region
Africa2.9-0.90.84.01.61.04.13.52.13.23.3
Asia5.77.98.46.96.88.19.05.45.55.05.2
Europe4.32.92.71.63.62.84.31.9-2.7-9.6-3.3
Middle East4.90.10.41.4-0.21.6-1.14.60.7-4.011.2
Western Hemisphere4.3-2.83.73.34.72.40.21.4-0.91.22.2
By predominant export
Fuel4.9-1.41.22.40.70.70.74.12.50.48.1
Non-fuel exports4.43.44.94.15.14.84.93.00.7-0.81.7
Manufactures5.14.97.47.16.86.55.63.61.11.03.6
Primary products2.10.12.80.44.73.10.1-0.21.43.63.5
Agricultural products2.21.62.44.52.60.11.33.63.3
Minerals1.7-4.84.22.16.0S.50.4-1.71.53.44.1
Services and private transfers4.43.03.83.15.06.04.33.62.52.73.9
Diversified export base4.52.51.70.62.62.65.63.2-0.8-6.7-3.5
By financial criteria
Net creditor countries5.62.20.51.1-0.8-0.10.34.75.54.46.8
Net debtor countries4.42.14.44.04.74.34.33.10.5-1.12.4
Market borrowers5.02.35.24.15.04.54.12.60.4-0.91.3
Diversified borrowers4.41.63.63.04.25.14.64.40.6-3.15.9
Official borrowers3.01.21.45.13.62.35.03.31.21.13.2
Countries with recent debt-servicing difficulties3.8-2.32.93.34.12.81.22.3-2.1-2.03.7
Countries without debt-servicing difficulties4.95.65.54.45.15.56.73.72.5-0.51.6
Miscellaneous groups
Sub-Saharan Africa2.50.31.13.63.32.22.62.82.02.33.0
Twelve major oil exporters4.7-0.60.52.21.11.50.64.42.1-1.09.5
Net debtor fuel exporters4.8-3.32.63.63.02.71.94.20.6-1.68.8
Four newly industrializing
Asian economies8.19.69.74.411.012.29.66.36.76.26.1
Small low-income economies3.52.13.13.54.03.13.53.23.23.14.1
Least developed countries4.01.81.02.03.42.33.32.02.12.93.7
Fifteen heavily indebted countries4.1-2.92.33.64.61.91.21.8-0.80.62.3
Eastern Europe and the USSR4.32.92.41.43.32.64.31.9-3.6-10.6-3.9
Of which,
Eastern Europe3.92.14.62.73.31.71.2-0.7-7.9-12.02.1
Memorandum
Developing countries
Median growth rate4.41.73.43.23.42.64.03.23.23.03.8

Arithmetic averages of country growth rates weighted by the average U.S. dollar value of GDPs over the preceding three years.

Compound annual rates of change. Excluding China.

Arithmetic averages of country growth rates weighted by the 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 GDP1(Annual changes, in percent)
Average2

1973–92
1983198419851986198719881989199019911992
Developing countries2.11.81.61.82.12.11.4-0.7-2.01.2
By region
Africa-3.6-1.81.0-1.3-1.81.20.7-0.80.30.3
Asia3.26.06.65.25.06.37.23.43.63.43.6
Europe3.31.91.70.63.02.33.71.3-3.3-9.7-3.9
Middle East0.5-3.9-3.3-2.1-3.8-2.7-4.01.9-1.9-5.93.4
Western Hemisphere1.7-5.O1.41.11.61.2-1.9-0.6-2.8-0.80.2
By predominant export
Fuel1.1-4.7-2.1-0.7-3.3-1.8-2.11.4-1.65.6
Non-fuel exports2.51.73.22.43.63.33.41.5-0.9-2.20.2
Manufactures3.23.25.85.55.24.94.11.9-0.5-0.32.0
Primary products-0.6-2.00.7-1.72.61.0-2.0-2.3-0.71.31.2
Agricultural products-0.6-0.40.3-2.12.40.5-2.0-1.9-0.71.3l.1
Minerals-0.6-7.02.0-0.33.53.4-2.3-4.1-0.9LI1.9
Services and private transfers1.90.41.20.52.33.21.61.00.21.4
Diversified export base3.11.00.2-0.91.61.64.72.21.9-7.7-4.5
By financial criteria
Net creditor countries0.8-1.9-3.3-2.2-4.44.4-2.42.23.01.94.5
Net debtor countries2.30.32.52.12.72.92.71.4-l.l-2.50.8
Market borrowers3.20.93.62.53.33.52.81.2-1.0-2.1-0.1
Diversified borrowers2.0-0.81.30.61.92.82.42.2-1.3-4.43.9
Official borrowers0.2-1.1-0.92.91.2-0.12.61.0-1.2-1.40.7
Countries with recent debt-servicing difficulties1.3-4.50.61.21.31.2-0.90.1-4.0-3.71.7
Countries without debt-servicing difficulties3.24.04.02.93.74.25.32.31.0-1.70.2
Miscellaneous groups
Sub-Saharan Africa-0.3-2.7-1.60.70.6-0.6-0.2-0.9-1.0-0.3
Twelve major oil exporters0.6-4.2-3.0-1.0-2.4-2.4-2.41.5-0.6-2.96.8
Net debtor fuel exporters1.7-5.9-0.10.9-1.01.7-0.71.6-1.6-2.96.5
Four newly industrializing
Asian economics6.28.08.33.39.911.08.35.25.65.15.0
Small low-income economies-0.1-0.70.30.91.20.51.00.50.51.0
Least developed countries1.4-0.9-1.7-0.60.8-0.40.6-0.7-0.6-0.40.5
Fifteen heavily indebted countries1.6-5.00.11.41.50.6-1.0-0.3-2.8-1.40.3
Eastern Europe and the USSR3.42.01.60.52.82.13.91.5-4.110.5-4.4
Of which,
Eastern Europe3.21.54.02.22.81.50.9-1.0-8.0-10.61.8

Arithmetic averages of country growth rates weighted by the U.S. dollar value of GDPs over the preceding three years.

Compound annual rates of change. Excluding China.

Arithmetic averages of country growth rates weighted by the U.S. dollar value of GDPs over the preceding three years.

Compound annual rates of change. Excluding China.

Table A7.Developing Countries: Gross Capital Formation1(In percent of GDP)
198319841985198619871988198919901991
Developing countries25.125.024.925.325.525.725.324.724.5
By region
Africa22.919.719.420.520.120.119.920.019.8
Asia26.828.324.628.728.829.629.929.128.9
Europe30.230.330.331.030.730.228.828.324.2
Middle East26.025.520.422.721.820.821.421.725.9
Western Hemisphere17.417.118.418.119.820.320.018.420.0
By predominant export
Fuel23.922.620.922.522.421.821.522.225.0
Non-fuel exports25.525.826.326.226.526.826.325.324.4
Manufactures24.726.027.627.427.527.928.026.726.4
Primary products16.815.815.315.316.016.414.414.216.7
Agricultural products17.215.815.214.815.616.313.913.516.3
Minerals15.716.015.817.717.817.116.717.518.3
Services and private transfers21.620.820.019.520.019.619.219.219.0
Diversified export base30.329.628.828.829.029.128.327.123.4
By financial criteria
Net creditor countries25.925.520.122.422.121.722.522.526.3
Net debtor countries24.924.925.625.726.026.225.624.924.3
Market borrowers26.226.927.727.728.028.127.726.525.9
Diversified borrowers24.022.923.122.322.522.822.322.820.7
Official borrowers20.117.418.720.119.820.018.918.519.8
Countries with recent debt-servicing difficulties19.918.419.119.320.220.519.918.719.4
Countries without debt-servicing difficulties28.729.630.430.130.030.029.729.227.4
Miscellaneous groups
Sub-Saharan Africa16.917.118.218.819.218.417.217.718.0
Twelve major oil exporters24.723.320.723.423.422.722.422.826.6
Net debtor fuel exporters22.320.121.422.122.422.220.821.923.4
Four newly industrializing
Asian economies28.728.526.425.427.128.529.030.732.0
Small low-income economies15.415.916.616.517.217.317.116.917.2
Least developed countries15.815.615.715.316.316.915.515.615.7
Fifteen heavily indebted countries18.616.717.918.219.519.919.618.418.9
Memorandum
Median estimates
Developing countries22.521.421.621.720.920.520.020.621.1
By region
Africa18.218.819.719.518.618.618.018.319.2
Asia27.324.925.423.723.327.428.028.431.5
Europe29.028.727.928.427.627.427.226.626.5
Middle East24.723.721.222.419.119.820.020.019.8
Western Hemisphere20.819.019.218.719.919.719.018.620.6

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

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

Table A8.Inflation(In percent)
Average1

1973–92
1983198419851986198719881989199019911992
GNP deflators
Industrial countries29.05.24.53.73.43.03.34.04.14.13.7
United States8.03.83.83.02.63.13.34.14.14.03.7
Japan7.11.42.31.61.80.41.41.92.52.6
West Germany4.83.42.12.23.31.91.52.63.43.93.7
Other industrial countries212.08.56.96.05.44.75.15.45.45.04.1
Consumer prices
Industrial countries29.55.04.74.22.43.03.34.44.94.53.8
United States8.73.24.43.52.03.64.14.85.44.54.0
Japan8.61.82.32.00.60.10.72.33.13.42.7
West Germany5.2.1.32.42.2-0.10.21.32.82.73.53.5
Other industrial countries211.88.56.66.44.54.34.25.56.05.34.2
Developing countries318.926.130.330.724.232.153.079.991.058.722.8
By region3
Africa16.018.020.213.314.215.122.222.315.418.413.6
Asia11.76.16.08.69.514.412.08.08.78.7
Europe5.56.47.07.18.19.313.932.635.8109.923.6
Middle East15.212.314.812.213.317.115.914.512.915.412.2
Western Hemisphere49.6108.7133.5145.187.4131.3286.2533.4769.8154.355.0
By analytical criteria3
Fuel exporters15.623.920.314.121.531.934.220.415.716.511.6
Non-fuel exporters20.026.934.337.215.232.259.1100.7116.670.725.5
Market borrowers20.535.643.045.630.041.473.7117.3142.689.327.8
Official borrowers16.622.226.723.428.128.548.057.659.726.918.5
Countries with recent debt-servicing difficulties33.966.281.884.461.487.1167.8300.0388.7107.842.1
Countries without debt-servicing difficulties8.06.26.56.75.75.98.08.78.741.914.3
Memorandum
Developing countries
Median inflation rate11.99.29.07.76.17.48.19.110.07.86.6

Compound annual rates of changes. Excluding China.

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

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

Percent 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 Prices1(Annual changes, in percent)
Average2

1973–92
Fourth Quarter3
1983198419851986198719881989199019911992199019911992
GNP deflator
Canada49.45.03.12.62.44.74.84.73.03.42.72.84.22.6
United States8.03.83.83.02.63.13.34.14.14.03.74.04.23.8
Japan7.11.42.31.61.80.41.91.92.52.61.72.62.5
France410.89.77.55.85.23.02.93.22.83.12.92.22.83.8
West Germany4.83.42.12.23.31.91.52.63.43.93.73.24.93.2
Italy416.914.911.58.97.96.06.66.07.56.75.57.56.75.5
United Kingdom414.15.34.65.73.55.06.566.x6.24.27.25.53.8
Other industrial countries10.57.97.06.16.24.95.15.85.95.04.5
All industrial countries9.05.24.53.73.43.03.34.04.14.13.7
Of which,
Seven major countries above8.74.84.13.43.02.83.03.73.83.93.53.74.13.5
European countries10.57.76.35.55.13.84.14.75.25.04.1
European Community10.87.96.45.65.33.84.14.65.15.04.3
Consumer prices
Canada9.65.84.34.04.24.44.05.04.85.92.84.95.12.8
United States8.73.24.43.52.03.64.14.85.44.54.06.33.53.9
Japan8.61.82.32.00.60.10.72.33.13.42.73.82.53.0
France11.09.67.45.82.53.32.73.53.43.33.03.63.12.9
West Germany5.23.32.42.2-0.10.21.32.82.73.53.53.04.03.0
Italy16.614.610.99.15.94.75.06.36.56.35.66.85.75.6
United Kingdom14.74.65.06.13.44.14.97.89.55.93.910.04.13.9
Other-industrial countries10.28.06.66.55.54.64.35.26.15.54.5
All industrial countries9.55.04.74.22.43.03.34.44.94.53.8
Of which,
Seven major countries above9.34.54.53.82.02.83.14.24.84.43.75.43.63.6
European countries10.47.56.15.63.23.13.44.85.44.94.1
European Community10.77.66.45.73.23.03.34.85.24.84.2

Composites for the country groups are averages of percent 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 percent 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 Manufacturing1(Annual changes, in percent)
Average2

1973–92
1983198419851986198719881989199019911992
Hourly earnings
Canada11.24.34.93.93.12.44.95.55.64.35.0
United States9.62.63.24.94.52.33.43.93.23.73.7
Japan10.42.62.33.82.31.23.26.86.15.86.3
France15.410.18.47.45.54.74.96.75.04.55.2
West Germany8.83.93.23.85.05.23.94.25.77.06.5
Italy21.119.513.110.23.16.75.17.15.76.55.6
United Kingdom15.88.27.68.58.07.58.09.49.27.55.9
Other industrial countries13.77.87.27.46.96.55.66.57.46.55.7
All industrial countries11.65.44.95.64.73.54.25.65.35.35.2
Of which,
Seven major countries above11.25.04.55.34.33.14.05.44.95.15.1
European countries14.09.17.47.35.86.05.36.46.66.55.8
European Community14.49.37.57.35.85.85.26.46.44.55.9
Output per man-hour
Canada2.17.516.02.7-1.10.93.70.14.52.74.0
United States2.05.04.84.44.65.24.70.92.52.03.7
Japan3.62.05.92.0-0.64.47.65.43.84.04.0
France4.44.01.93.23.34.38.04.40.31.32.4
West Germany3.64.43.73.61.01.94.23.13.52.32.5
Italy4.35.41.73.3-0.83.92.6-0.6-1.20.20.8
United Kingdom2.27.74.42.43.85.65.44.50.13.53.0
Other industrial countries3.96.14.93.81.62.43.42.71.41.72.5
All industrial countries3.04.94.93.62.54.25.12.52.22.33.2
Of which,
Seven major countries above2.84.74.93.52.74.55.42.52.42.43.3
European countries3.95.73.73.52.03.34.72.91.11.72.3
European Community4.05.33.53.52.03.34.72.81.0i S2.2
Unit labor costs
Canada8.9-3.0-9.51.14.31.51.15.41.01.60.9
United States7.5-2.3-1.50.5-2.8-1.23.00.81.7
Japan6.50.6-3.41.82.9-3.1-4.11.42.21.72.2
France10.55.96.44.02.10.4-2.82.24.63.12.7
West Germany5.0-0.5-0.40.24.03.3-0.21.02.24.63.9
Italy16.213.311.26.63.92.72.57.77.06.34.8
United Kingdom13.30.53.15.94.111.82.54.69.07.72.9
Other industrial countries8.91.82.23.55.34.02.23.86.04.83.2
All industrial countries8.30.52.02.1-0.7-0.83.03.03.12.0
Of which,
Seven major countries above8.20.3-0.31.71.7-1.3-1.32.92.52.91.8
European countries9.83.33.73.73.82.60.63.55.55.33.5
European Community10.13.83.93.73.72.50.63.55.45.33.7

Composites for the country groups are averages of percent 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 percent 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 Averages1(Annual changes, in percent)
Average2

1973–92
1983198419851986198719881989199019911992
Developing countries18.926.130.330.724.232.153.079.991.058.722.8
By region
Africa16.018.020.213.314.215.122.222.315.418.413.6
Asia11.76.66.16.08.69.514.412.08.08.78.7
Europe5.56.47.07.18.19.313.932.635.8109.923.6
Middle East15.212.314.812.213.317.115.914.512.915.412.2
Western Hemisphere49.6108.7133.5145.187.4131.3286.2533.4769.8154.355.0
By predominant export
Fuel15.623.920.314.121.531.934.220.415.716.511.6
Non-fuel exports20.026.934.337.225.232.259.1100.7116.670.725.5
Manufactures23.432.240.142.631.545.293.3146.8181.568.331.0
Primary products58.992.0126.9153.965.070.6135.1337.7294.569.921.9
Agricultural products58.3102.8144.9159.767.676.6133.5338.3289.070.422.4
Minerals59.560.774.4132.053.343.8144.1334.4322.867.319.4
Services and private transfers12.39.212.414.714.015.611.913.813.911.310.0
Diversified export base2.82.64.33.54.53.82.64.16.985.217.1
By financial criteria
Net creditor countries13.26.13.51.06.911.912.610.54.87.97.9
Net debtor countries19.729.234.635.426.835.058.890.2104.365.724.6
Market borrowers20.535.643.045.630.041.473.7117.3142.689.327.8
Diversified borrowers22.117.017.816.117.220.725.340.334.822.217.3
Official borrowers16.622.226.723.428.128.548.057.659.726.918.5
Countries with recent debt-servicing difficulties33.966.281.884.461.487.1167.8300.0388.7107.842.1
Countries without debt-servicing difficulties8.06.26.56.75.75.98.08.78.741.914.3
Miscellaneous groups
Sub-Saharan Africa21.925.420.520.220.023.420.920.422.824.017.7
Twelve major oil exporters13.810.211.14.99.013.918.820.512.815.711.0
Net debtor fuel exporters17.237.532.823.731.544.847.425.222.321.012.8
Four newly industrializing
Asian economies13.23.62.51.61.82.34.75.57.46.45.2
Small low-income economies18.923.220.523.144.342.649.033.431.529.222.8
Least developed countries17.515.018.124.320.724.223.127.028.527.926.0
Fifteen heavily indebted countries43.890.9118.4122.777.0117.3251.8485.9628.8135.849.7
Eastern Europe and the USSR3.34.84.65.16.67.711.131.034.4115.221.4
Of which,
Eastern Europe10.816.416.118.119.026.044.3139.0148.9102.925.3

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(Annual changes, in percent)
Average

1973–92
1983198419851986198719881989199019911992
Developing countries11.99.29.07.76.17.48.19.110.07.86.6
By region
Africa12.410.911.59.77.37.87.19.59.58.17.2
Asia9.98.76.74.65.56.58.88.210.06.26.4
Europe5.84.94.43.92.32.73.05.018.160.917.5
Middle East11.95.26.44.75.57.66.27.57.65.95.1
Western Hemisphere14.18.812.015.011.414.612.011.412.67.85.0
By predominant export
Fuel11.910.411.35.86.08.25.95.77.55.95.7
Non-fuel exports11.89.08.68.36.27.38.59.610.78.07.3
Manufactures8.77.42.83.55.37.37.57.410.017.310.5
Primary products13.313.112.413.013.614.614.713.012.68.58.5
Agricultural products13.212.312.210.513.412.814.512.712.18.58.0
Minerals13.015.319.915.018.919.914.717.013.38.28.7
Services and private
transfers11.76.15.64.94.84.94.86.27.03.53.8
Diversified export base10.78.410.98.87.33.13.96.37.69.85.1
By financial criteria
Net creditor countries10.22.00.50.62.35.53.33.74.64.54.1
Net debtor countries12.09.410.38.36.98.28.59.811.08.27.3
Market borrowers10.55.55.16.15.46.77.29.211.818.410.1
Diversified borrowers12.410.011.49.66.99.39.712.012.78.26.6
Official borrowers12.210.410.78.48.28.29.49.310.07.86.8
Countries with recent debt-
servicing difficulties13.113.514.414.311.716.514.814.813.68.88.3
Countries without debt-
servicing difficulties10.66.75.54.44.35.55.97.28.67.06.3
By miscellaneous criteria
Sub-Saharan Africa12.711.411.410.36.97.27.19.610.08.07.3
Twelve major oil exporters10.97.07.64.65.68.25.95.77.56.95.9
Net debtor fuel exporters12.013.613.37.77.710.88.111.411.011.57.1
Four newly industrializing
Asian economics10.42.42.41.51.81.84.35.16.44.53.3
Small low-income economies12.111.611.410.48.012.811.310.011.78.97.9
Least developed countries12.09.910.48.48.59.79.79.810.18.07.9
Fifteen heavily indebted
countries21.540.950.330.723.028.154.550.526.620.615.1
Eastern Europe and the USSR2.14.72.82.82.72.72.66.426.399.420.0
Of which,
Eastern Europe4.26.15.65.34.05.59.411.728.281.418.0
Table A13.Summary Financial Indicators(In percent)
1983198419851986198719881989199019911992
Major industrial countries
Fiscal balances of central government1
Seven major countries-5.0-4.6-4.7-4.4-3.3-2.7-2.4-2.7-3.0-2.9
Canada-6.2-6.8-6.6-4.7-3.8-3.2-3.3-3.8-4.0-2.6
United States-5.2-4.5-4.9-4.9-3.5-2.9-2.6-3.0-3.6-3.6
Japan-4.9-4.2-3.7-3.2-2.2-1.3-1.1-1.0-0.9-0.5
France-3.2-3.4-3.3-2.8-2.2-2.0-1.6-1.4-1.4-1.3
Germany2-1.9-1.6-1.2-1.2-1.4-1.7-0.9-1.8-2.4-1.7
Italy-13.9-13.2-13.8-12.2-11.6-11.4-11.2-10.8-9.9-9.8
United Kingdom-2.7-3.1-2.3-2.1-1.11.21.2-0.7-1.6-2.7
Fiscal balances of general government1
Seven major countries-4.1-3.3-3.3-3.2-2.2-1.6-0.9-1.5-2.0-1.9
Canada-6.9-6.5-6.8-5.4-3.8-2.6-3.1-3.8-5.2-3.8
United States-3.8-2.8-3.3-3.4-2.4-2.0-1.7-2.4-2.9-2.9
Japan-3.6-2.1-0.8-0.90.51.52.42.93.03.5
France-3.2-2.8-2.9-2.7-1.9-1.8-1.2-1.6-1.3-1.2
Germany3-2.5-1.9-1.1-1.3-1.9-2.10.2-2.1-4.3-3.5
Italy-10.6-11.6-12.5-11.6-11.0-10.8-10.0-10.6-9.6-9.7
United Kingdom-3.6-3.4-2.3-1.30.22.11.40.8-1.01.9
Growth of broad money4
Seven major countries10.48.68.39.26.47.68.35.5
Canada4.46.310.78.97.510.314.08.4
United States12.08.68.29.43.55.55.03.2
Japan7.37.88.79.210.810.212.07.4
France13.79.84.64.64.33.74.70.62.53.0
West Germany5.34.75.06.65.96.95.55.9
Italy12.311.511.19.68.68.911.29.48.08.0
United Kingdom13.413.813.015.716.117.519.112.0
Short term interest rates
United States58.99.87.76.26.06.98.47.7
Japan66.65.04. 14.45.37.6
West Germany75.86.05.44.64.04.37.18.5
Six-month Eurodollar rate89.911.38.66.87.38.19.38.46.67.0
Developing countries
Fiscal balances of central government1
Weighted averages-4.4-4.1-4.0-6.1-6.5-6.5-5.1-3.1-5.2
Medians-5.8-4.4-4.3-5.0-5.4-4.6-4.5-3.8-3.3
Growth of broad money
Weighted averages30.640.136.929.742.772.992.468.546.1
Medians16.116.214.816.714.718.115.813.512.3

In percent of GNP or GDP.

Data through June 30,1990 cover west Germany only.

Data through 1990 cover west Germany only.

For definitions of broad money, see Table A14. footnote 4.

Three-month Treasury bills.

Three-month certificates of deposit.

Three-month interbank deposits.

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

In percent of GNP or GDP.

Data through June 30,1990 cover west Germany only.

Data through 1990 cover west Germany only.

For definitions of broad money, see Table A14. footnote 4.

Three-month Treasury bills.

Three-month certificates of deposit.

Three-month interbank deposits.

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

Table A14.Major Industrial Countries: Monetary Aggregates1(Annual changes, in percent)2
19831984198519861987198819891990
Narrow money3
Canada11.20.98.35.610.75.83.1-1.8
United States9.95.912.316.83.54.90.94.0
Japan-0.16.93.010.44.88.62.44.5
France12.911.14.17.14.34.18.43.4
West Germany8.36.24.97.47.410.95.57.6
Italy12.912.410.49.17.98.112.27.6
United Kingdom9.48.22.912.710.312.5-5.2-10.4
Seven major countries above8.56.98.513.05.16.92.83.5
Four major European countries above10.69.25.38.97.38.95.52.7
Broad money4
Canada4.46.310.78.97.510.314.08.4
United States12.08.68.29.43.55.55.03.2
Japan7.37.88.79.210.810.212.07.4
France13.79.84.64.64.33.74.70.6
West Germany5.34.75.06.65.96.95.55.9
Italy12.311.311.19.68.68.911.29.4
United Kingdom13.413.813.015.716.117.519.112.0
Seven major countries above10.48.68.39.26.47.68.35.5
Four major European countries above10.79.47.98.88.28.79.46.6

Composites for the country groups are averages of percent 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.

M1. 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 west Germany includes demand deposits at fixed interest rates. The United Kingdom only includes the non-interest- bearing component of M1.

M1 plus quasi-money—M2, except for Japan, west 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 Slates 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 west Germany, M3 is Ml 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 coins.

Composites for the country groups are averages of percent 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.

M1. 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 west Germany includes demand deposits at fixed interest rates. The United Kingdom only includes the non-interest- bearing component of M1.

M1 plus quasi-money—M2, except for Japan, west 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 Slates 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 west Germany, M3 is Ml 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 coins.

Table A15.Major Industrial Countries: Interest Rates1(In percent a year)
19831984198519861987198819891990September

1991
Short-term interest rates2
Canada9.511.29.69.28.49.612.213.08.6
United States9.110.48.06.56.97.79.18.25.5
Japan6.76.46.65.04.14.45.37.66.6
France11.411.29.97.78.27.99.310.39.5
West Germany5.86.05.44.64.04.27.18.49.2
Italy17.815.313.911.911.111.212.712.312.2
United Kingdom10.19.912.210.99.710.313.914.810.2
Seven major countries above9.29.68.46.96.77.28.70.27.4
Four major European countries above10.510.09.88.37.87.910.311.110.2
Long-term interest rates3
Canada11.812.711.19.59.910.29.910.89.8
United States11.112.510.67.78.48.88.58.67.7
Japan7.87.36.55.35.04.85.17.06.1
France13.612.510.98.69.49.18.810.08.9
West Germany8.18.07.06.16.26.57.08.78.5
Italy19.516.614.612.211.612.013.313.613.1
United Kingdom11.311.311.110.19.69.710.211.89.7
Seven major countries above11.011.49.97.78.08.18.19.08.1
Four major European countries above12.411.610.58.98.99.09.510.79.9

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, from July 1984, three-month certificates of deposit (earlier data refer to three-month Gensaki rate); France, west Germany, and the United Kingdom, three-month interbank deposits; Italy, three-month treasury bills.

Average yield on government bonds with residual maturities of over ten years for Canada, yield on ten-year treasury bonds for the United States, 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 west Germany, secondary market yield on fixed-coupon (BTP) government bonds with 2-4 years residual maturity for Italy, and yield on medium-dated (10-year) government stock for the United Kingdom. September 1991 data for Italy refer to yield on ten-year government bonds.

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, from July 1984, three-month certificates of deposit (earlier data refer to three-month Gensaki rate); France, west Germany, and the United Kingdom, three-month interbank deposits; Italy, three-month treasury bills.

Average yield on government bonds with residual maturities of over ten years for Canada, yield on ten-year treasury bonds for the United States, 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 west Germany, secondary market yield on fixed-coupon (BTP) government bonds with 2-4 years residual maturity for Italy, and yield on medium-dated (10-year) government stock for the United Kingdom. September 1991 data for Italy refer to yield on ten-year government bonds.

Table A16.Major Industrial Countries: Central Government Fiscal Balances and Impulses1(In percent of GNP)2
1983198419851986198719881989199019911992
Fiscal balance
(+surplus,—deficit)
Canada3-6.2-6.8-6.6-4.7-3.8-3.2-3.3-3.8-4.0-2.6
United States4-5.2-4.5-4.9-4.9-3.5-2.9-2.6-3.0-3.6-3.6
Japan5-4.9-4.2-3.7-3.2-2.2-1.3-1.1-1.0-0.9-0.5
France6-3.2-3.4-3.3-2.8-2.2-2.0-1.6-1.4-1.4-1.3
Germany7-1.9-1.6-1.2-1.2-1.4-1.7-0.9-1.8-2.4-1.7
Italy8-13.9-13.2-13.8-12.2-11.6-11.4-11.2-10.8-9.9-9.8
United Kingdom3-2.7-3.1-2.3-2.1-1.11.21.2-0.7-1.6-2.7
Seven major countries above–5.0–4.6–4.7–4.4–3.3–2.7–2.4–2.7–3.0–2.9
Seven major countries except the United States-4.9-4.7-4.4-3.8-3.2-2.5-2.2-2.5-2.6-2.4
Fiscal impulse
(+ expansionary,—contractionary)
Canada30.61.50.3-1.8-0.5-0.1-0.1-0.6-1.6
United States0.80.50.6-1.2-0.2-0.4-0.10.2
Japan-0.4-0.7-0.3-0.8-0.9-0.6-0.10.1-0.5
France0.2-0.1-0.4-0.50.1-0.1-0.2-0.4-0.2
West Germany-0.30.2-0.40.4-0.5
Italy1.30.11.4-0.8-0.60.2-0.3-0.7-1.3-0.2
United Kingdom0.40.3-0.30.2-0.1-1.4-0.21.1-1.20.8
Seven major countries above90.40.20.3–0.3–0.9–0.2–0.3–0.3–0.1
Seven major countries except9 the United States0.1-0.5-0.5-0.3-0.2-0.5-0.3

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

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

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

Data are on a budget basis.

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

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

Data are on an administrative basis and exclude social security transactions; through June 30. 1990) they cover west Germany only

Data 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.

Excludes Germany from 1990 onward.

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

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

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

Data are on a budget basis.

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

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

Data are on an administrative basis and exclude social security transactions; through June 30. 1990) they cover west Germany only

Data 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.

Excludes Germany from 1990 onward.

Table A17.Major Industrial Countries: General Government Fiscal Balances and Impulses1(In percent of GNP)2
1983198419851986198719881989199019911992
Fiscal balance
(+ surplus, - deficit)
Canada-6.9-6.5-6.8-5.4-3.8-2.6-3.1-3.8-5.2-3.8
United States-3.8-2.8-3.3-3.4-2.4-2.0-1.7-2.4-2.9-2.9
Japan-3.6-2.1-0.8-0.90.51.52.42.93.03.5
France3-3.2-2.8-2.9-2.7-1.9-1.8-1.2-1.6-1.3-1.2
Germany4-2.5-1.9-1.1-1.3-1.9-2.10.2-2.14.3-3.5
Italy-10.6-11.6-12.5-11.6-11.0-10.8-10.0-10.6-9.6-9.7
United Kingdom5-3.6-3.4-2.3-1.30.22.11.40.8-1.0-1.9
Seven major countries above-4.1-3.3-3.3-3.2-2.2-1.6-0.9-1.5-2.0-1.9
Seven major countries except the United States-4.4-3.8-3.3-2.9-1.9-1.3-0.4-0.8-1.4-1.2
Fiscal impulse
(+ expansionary, - contractionary)
Canada0.91.11.2-1.2-0.9-0.40.3-0.3-0.2-1.5
United States0.60.70.70.1-0.70.2-0.4-0.50.2
Japan-0.3-1.5-0.8-0.2-1.3-0.4-0.8-0.7
France-0.4-0.80.3-1.11.2-0.3-0.7-0.4
West Germany-0.50.4-0.80.30.20.8-1.6
Italy-0.31.71.8-0.50.2-0.70.3-1.5-0.1
United Kingdom0.6-0.3-0.5-0.4-0.5-1.00.5-0.6-0.40.6
Seven major countries above60.20.20.3-0.80.1-0.5-0.5-0.1
Seven major countries except6 the United States-0.1-0.3-0.1-0.2-0.8-0.6-0.4-0.4
Memorandum
Germany: Fiscal balance, territorial authorities7-3.3-2.6-2.1-2.2-2.6-2.5-1.2-3.5-5.6-4.5

Data are on a national income accounts basis. Composites for the country groups are weighted averages of the individual national ratios 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.

Data through 1990 cover west Germany only.

Excluding asset sales.

Excludes Germany from 1990 onward.

General government, on an administrative basis, excluding social security transactions. Data through June 30, 1990 cover west Germany only.

Data are on a national income accounts basis. Composites for the country groups are weighted averages of the individual national ratios 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.

Data through 1990 cover west Germany only.

Excluding asset sales.

Excludes Germany from 1990 onward.

General government, on an administrative basis, excluding social security transactions. Data through June 30, 1990 cover west Germany only.

Table A18.Developing Countries: Broad Money Aggregates1(Annual changes, in percent)
19831984198519861987198819891990
Developing countries30.640.136.929.742.772.992.468.5
By region
Africa15.120.517.610.620.025.818.520.6
AsiaI7.024.818.823.623.822.022.222.7
Europe11.113.313.714.820.828.350.623.2
Middle East14.419.014.212.512.713.612.911.6
Western Hemisphere107.9143.7139.184.2149.6425.0570.2380.5
By predominant export
Fuel22.120.717.122.330.423.414.719.2
Non-fuel exports33.948.144.832.446.891.1121.583.8
Manufactures39.861.855.341.763.4152.9178.0115.5
Primary products93.5133.9138.767.486.9143.7325.8188.5
Agricultural products109.8150.7139.770.692.2140.9338.5163.3
Minerals49.084.5134.652.862.9159.1269.2351.5
Services and private transfers12.416,215.923.716.210.416.513.6
Diversified export base10.210.79.28.514.315.817.516.7
By financial criteria
Net creditor countries9.79.29.512.514.214.312.210.0
Net debtor countries33.845.241.232.246.881.7104.676.7
Market borrowers42.258.650.336.757.1108.1134.5106.4
Diversified borrowers21.224.123.321.725.233.460.221.6
Official borrowers18.624.031.228.835.350.049.241.2
Countries with recent debt-servicing difficulties63.582.982.957.297.4229.4320.1201.1
Countries without debt-servicing difficulties14.521.215.716.117.717.219.120.2
Miscellaneous groups
Sub-Saharan Africa16.027.327.828.020.924.819.819.5
Twelve major oil exporters13.811.210.510.314.717.515.720.5
Net debtor fuel exporters33.030.423.930.843.830.116.924.9
Four newly industrializing
Asian economies-0.615.018.319.222.118.917.817.1
Small low-income economies23.225.536.245.149.641.935.227.0
Least developed countries23.225.724.929.017.527.426.824.4
Fifteen heavily indebted countries89.2117.1118.274.6135.4360.1523.7309.3
Memorandum
Median estimates
Developing countries16.116.214.816.714.718.115.813.5
By region
Africa14.515.715.714.613.812.512.011.3
Asia19.817.716.216.817.418.319.615.5
Europe8.27.99.58.811.812.914.618.4
Middle East16.015.210.79.98.98.013.211.1
Western Hemisphere16.617.014.823.519.424.817.713.6

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

Geomertic 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 Balances1(In percent of GDP)
198319841985198619871988198919901991
Developing countries-4.4-4.1-4.0-6.1-6.5-6.5-5.1-3.1-5.2
By region
Africa-7.8-5.2-4.9-6.0-7.4-8.3-4.4-2.8-0.6
Asia-3.1-2.6-2.9-3.8-3.4-3.2-2.9-2.8-2.3
Europe-0.2-0.9-1.7-4.4-5.9-6.5-5.9-4.4-11.0
Middle East-9.8-11.5-10.2-15.3-13.4-14.6-10.0-7.9-14.5
Western Hemisphere-5.7-4.2-3.8-5.0-6.6-5.3-4.90.1-0.8
By predominant export
Fuel-7.5-6.4-7.0-11.4-11.3-11.9-6.6-3.2-5.6
Non-fuel exports-3.3-3.2-3.0-4.3-5.0-4.9-4.8-3.0-5.1
Manufactures-2.8-2.4-2.0-2.7-3.0-2.5-3.5-1.8-2.4
Primary product-6.9-6.3-4.2-3.8-4.3-4.6-3.0-3.5-2.7
Agricultural products-7.4-6.5-4.O-3.6-4.1-4.8-3.2-3.4-2.5
Minerals-5.4-6.0-4.9-4.9-4.9-3.5-2.1-4.0-3.6
Services and private transfers-12.4-12.0-12.8-11.4-11.1-11.1-9.9-3.5-2.2
Diversified export base-1.3-2.2-2.8-6.0-7.9-8.2-7.4-5.3-12.3
By financial criteria
Net creditor countries-6.0-6.8-5.5-10.9-9.3-8.0-3.4-1.7-8.7
Net debtor countries-4.2-3.7-3.8-5.4-6.2-6.3-5.3-3.2-4;8
Market borrowers-2.9-2.4-2.4-4.4-5.6-5.5-4.4-2.1-4.7
Diversified borrowers-5.5-5.9-7.0-8.2-7.2-8.3-7.6-7.1-6.8
Official borrowers-8.0-6.2-5.6-5.8-7.6-7.6-6.4-2.7-1.6
Countries with recent debt-servicing difficulties-6.3-5.0-5.0-6.4-7.6-7.4-6.2-2.5-2.8
Countries without debt-servicing difficulties-2.5-2.7-3.0-4.7-5.1-5.6-4.7-3.8-6.2
Miscellaneous groups
Sub-Saharan Africa-6.0-5.3-5.6-6.77.7-7.0-6.5-6.2-5.4
Twelve major oil exporters-7.7-6.9-7.1-12.0-10.6-12.6-7.0-4.0-7.7
Net debtor fuel exporters-8.1-5.6-7.4-10.5-11.4-13.1-7.6-3.9-2.0
Four newly industrializing
Asian economies-0.80.20.9-0.10.72.11.50.50.2
Small low-income economies-6.8-6.2-6.9-7.4-6.9-7.4-6.5-6.3-5.5
Least developed countries-9.0-8.1-8.2-8.0-9.1-9.1-8.0-7.4-7.2
Fifteen heavily indebted countries-5.7-3.8-3.4-4.5-6.5-5.5-4.7-0.7-1.3
Memorandum
Median estimates
Developing countries-5.8-4.4-4.3-5.0-5.4-4.6-4.5-3.8-3.3
By region
Africa-7.8-5.7-5.5-6.2-6.9-6.0-4.7-4.0-3.5
Asia-4.0-2.4-3.9-4.8-3.7-3.2-4.2-3.6-2.2
Europe-0.9-1.0-1.1-2.5-3.2-1.8-2.7-4.4-3.6
Middle East-10.9-14.6-13.8-16.3-15.8-12.3-10.1-9.1-10.5
Western Hemisphere-4.9-4.7-3.2-3.4-2.5-3.3-2.9-1.8-2.0

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(Annual changes, In percent)
Average1

1973-92
1983198419851986198719881989199019911992
World trade2
Volume4.12.69.02.94.56.59.16.94.30.65.0
Unit value in U.S. dollar terms11.6-4.8-2.6-2.15.010.34.91.18.30.40.8
in SDR terms11.4-1.71.6-1.1-9.10.96.02.3-2.12.8
Volume of trade
Exports
Industrial countries5.02.810.04.33.05.28.66.65.92.34.6
Developing countries0.33.66.50.18.69.110.14.6-0.7-4.15.9
Fuel exporters-4.0-4.10.5-4.014.81.611.98.52.6-1.87.0
Non-fuel exporters3.88.23.62.07.211.29.73.7-1.8-4.55.8
Imports
Industrial countries3.64.612.44.59.07.29.07.95.21.74.5
Developing countries7.0-2.02.80.2-2.95.99.86.83.4-1.96.1
Fuel exporters14.8-13.8-6.8-9.8-19.4-4.36.46.74.615.08.1
Non-fuel exporters4.92.76.03.21.78.110.56.83.2-5.05.7
Unit value of trade
(in SDR terms)
Exports
Industrial countries8.9-0.71.0-0.2-1.90.92.05.22.4-2.22.2
Developing countries18.6-3.73.6-3.5-23.4-0.4-1.99.03.1-1.74.1
Fuel exporters28.9-8.42.9-5.5-49.78.1-14.317.311.8-6.41.4
Non-fuel exporters12.4-0.84.6-2.6-12.3-2.71.47.10.9-0.54.7
Imports
Industrial countries10.9-2.50.8-0.8-10.10.10.55.32.9-2.92.8
Developing countries11.3-0.22.7-1.6-9.7-2.52.27.1-0.40.53.6
Fuel exporters9.70.32.5-0.6-4.3-4.13.95.1-1.5-0.64.3
Non-fuel exporters11.7-0.42.7-1.9-11.1-2.11.87.5-0.20.43.5
Terms of trade
Industrial countries-1.81.80.20.69.20.81.5-0.2-0.4-0.8-0.5
Developing countries6.6-3.50.9-1.9-15.22.1-4.01.83.6-2.00.5
Fuel exporters17.5-8.70.4-5.0-47.412.8-17.411.713.5-5.9-2.7
Non-fuel exporters0.7-0.31.2-0.7-1.3-0.6-0.4-0.31.2-1.01.2
Memorandum
World trade prices (in U.S. dollar terms) for major commodity groups3
Manufactures9.0-2.8-3.11.117.711.96.1-0.99.30.20.3
Oil-4.6-48.828.7-20.421.528.2-16.41.0
Non-fuel primary commodities7.66.22.0-13.2-3.88.823.3-0.5-7.9-5.73.3

Compound annual rates of change. Excluding China.

Averages of growth rates for world exports and imports.

As represented, respectively, by the export unit value index for the manufactures of the industrial countries; the average of U.K. 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.

As represented, respectively, by the export unit value index for the manufactures of the industrial countries; the average of U.K. 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(Changes, in percent)
Average1

1973-92
1983198419851986198719881989199019911992
Total merchandise trade
Value (in U.S. dollar terms)
Exports14.6-1.16.53.116.817.015.26.914.82.64.9
Imports15.1-1.38.52.713.318.213.88.414.61.25.3
Volume
Exports5.02.810.04.33.05.28.66.65.92.34.6
Imports3.64.612.44.59.07.29.07.95.21.74.5
Unit value (in U.S. dollar terms)
Exports9.1-3.9-3.2-l.l13.411.26.00.38.40.30.2
Imports11.1-5.6-3.4-1.73.910.34.40.58.9-0.50.8
Terms of trade-1.81.80.20.69.20.81.5-0.2-0.40.8-0.5
Non-oil trade
Value (in U.S. dollar terms)
Exports14.1-1.26.83.319.717.215.97.014.03.45.3
Imports13.11.710.75.023.218.716.27.013.14.46.2
Volume
Exports5.32.610.34.32.75.38.57.05.62.75.0
Imports4.95.914.46.49.08.09.17.75.53.65.3
Unit value (in U.S. dollar terms)
Exports8.4-3.7-3.2-1.016.511.56.8-0.17.90.70.3
Imports7.8-4.0-3.2-1.313.09.96.5-0.67.20.70.9
Terms of trade0.60.30.33.11.30.30.60.6-0.1-0.6
Memorandum
Real GNP22.52.24.03.12.73.04.13.32.51.22.6
Apparent income elasticity of non-oil imports32.02.73.62.03.42.72.22.32.23.22.1
Import volume of developing countries7.1-2.02.80.2-2.95.99.86.83.4-1.96.1
Market prices of non-fuel primary commodities (in U.S. dollar terms)47.76.01.7-12.7-3.516.320.20.2-5.1-5.03.4
Unit labor costs in manufacturing (in U.S.dollar terms)7.7-3.9-4.9-0.418.18.02.9-0.88.02.4-0.7

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 Trade1(Annual changes, in percent)
Average2

1973-92
1983198419851986198719881989199019911992
Export volumes3
Canada4.67.418.66.44.03.69.31.14.5-3.25.2
United States5.4-3.88.03.28.014.522.511.18.84.24.5
Japan8.07.916.24.6-0.60.35.13.85.53.05.3
France5.13.75.51.50.63.58.78.14.93.65.1
Germany45.3-0.39.25.91.32.96.88.04.51.35.5
Italy4.63.47.93.23.83.34.99.03.54.95.1
United Kingdom4.42.38.15.64.25.21.84.86.62.24.8
Other industrial countries4.45.78.75.12.36.36.35.36.22.03.0
All industrial countries5.02.810.04.33.05.28.66.65.92.34.6
of which,
Seven major countries above5.31.910.44.13.34.89.57.15.82.55.2
European countries4.73.68.04.22.74.46.46.75.32.34.5
European Community4.83.07.83.83.14.66.56.85.52.44.5
Import volumes5
Canada5.011.119.710.48.16.213.64.9-0.4-3.73.2
United States2.812.924.94.513.45.86.66.23.3-1.87.2
Japan2.40.810.50.49.59.316.77.85.83.86.6
France5.4-1.95.44.210.17.58.87.85.23.1-4.2
Germany43.04.05.14.16.15.56.57.212.813.23.8
Italy2.6-1.910.84.17.611.36.48.34.54.44.7
United Kingdom2.38.911.43.27.47.413.17.91.2-2.73.8
Other industrial countries4.41.16.46.07.08.87.88.55,00.52.4
All industrial countries3.64.612.44.59.07.29.07.95.21.74.5
Of which.
Seven major countries above3.35.914.44.09.86.69.57.05.32.15.3
European countries3.72.36.54.48.08.38.07.96.53.83.4
European Community3.82.16.44.18.28.78.67.97.04.23.4
Terms of trade3
Canada1.81.3-0.9-1.2-2.43.22.51.0-2.20.8-0.1
United States-2.83.11.9-2.2-0.3-6.92.01.0-1.8-0.1-1.1
Japan-6.63.22.04.434.41.02.4-4.2-6.18.2-1.5
France-1.42.21.02.911.80.70.4-0.8-0.1-0.4-0.5
Germany4-2.41.7-2.31.315.13.7-2.71.5-2.50.3
Italy-3.22.3-2.00.416.62.80.8-1.22.80.7-0.7
United Kingdom-0.90.2-1.80.8-5.10.80.33.21.63.7-0.1
Other industrial countries-0.10.21.10.34.10.91.41.0-0.4-0.2
All industrial countries-1.81.80.20.69.20.81.5-0.2-0.40.8-0.5
Of which,
Seven major countries above-2.52.3-0.10.711.00.81.6-0.6-0.41.1-0.7
European countries-1.11.1-0.4l.l8.41.70.2-0.30.9-0.2-0.3
European Community-1.31.3-0.8