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Statistical Appendix

Author(s):
International Monetary Fund. Research Dept.
Published Date:
October 2018
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The Statistical Appendix presents historical data as well as projections. It comprises seven sections: Assumptions, What’s New, Data and Conventions, Country Notes, Classification of Countries, Key Data Documentation, and Statistical Tables.

The assumptions underlying the estimates and projections for 2018–19 and the medium-term scenario for 2020–23 are summarized in the first section. The second section presents a brief description of the changes to the database and statistical tables since the April 2018 World Economic Outlook (WEO). The third section provides a general description of the data and the conventions used for calculating country group composites. The fourth section summarizes selected key information for each country. The fifth section summarizes the classification of countries in the various groups presented in the WEO. The sixth section provides information on methods and reporting standards for the member countries’ national account and government finance indicators included in the report.

The last, and main, section comprises the statistical tables. (Statistical Appendix A is included here; Statistical Appendix B is available online.) Data in these tables have been compiled on the basis of information available through September 18, 2018. The figures for 2018 and beyond are shown with the same degree of precision as the historical figures solely for convenience; because they are projections, the same degree of accuracy is not to be inferred.

Assumptions

Real effective exchange rates for the advanced economies are assumed to remain constant at their average levels measured during the period July 17 to August 14, 2018. For 2018 and 2019, these assumptions imply average US dollar–special drawing right (SDR) conversion rates of 1.419 and 1.406, US dollar–euro conversion rates of 1.186 and 1.170, and yen–US dollar conversion rates of 109.8 and 109.3, respectively.

It is assumed that the price of oil will average $69.38 a barrel in 2018 and $68.76 a barrel in 2019.

Established policies of national authorities are assumed to be maintained. The more specific policy assumptions underlying the projections for selected economies are described in Box A1.

With regard to interest rates, it is assumed that the London interbank offered rate (LIBOR) on six-month US dollar deposits will average 2.5 percent in 2018 and 3.4 percent in 2019, that three-month euro deposits will average –0.3 percent in 2018 and –0.2 percent in 2019, and that six-month yen deposits will average 0.0 percent in 2018 and 0.1 percent in 2019.

As a reminder, in regard to the introduction of the euro, on December 31, 1998, the Council of the European Union decided that, effective January 1, 1999, the irrevocably fixed conversion rates between the euro and currencies of the member countries adopting the euro are as described in Box 5.4 of the October 1998 WEO:

1 euro =13.7603Austrian schillings
=40.3399Belgian francs
=0.585274Cyprus pound1
=1.95583Deutsche marks
=15.6466Estonian krooni2
=5.94573Finnish markkaa
=6.55957French francs
=340.750Greek drachmas3
=0.787564Irish pound
=1,936.27Italian lire
=0.702804Latvian lat4
=3.45280Lithuanian litas5
=40.3399Luxembourg francs
=0.42930Maltese lira1
=2.20371Netherlands guilders
=200.482Portuguese escudos
=30.1260Slovak koruna6
=239.640Slovenian tolars7
=166.386Spanish pesetas

Established on January 1, 2008.

Established on January 1, 2011.

Established on January 1, 2001.

Established on January 1, 2014.

Established on January 1, 2015.

Established on January 1, 2009.

Established on January 1, 2007.

Established on January 1, 2008.

Established on January 1, 2011.

Established on January 1, 2001.

Established on January 1, 2014.

Established on January 1, 2015.

Established on January 1, 2009.

Established on January 1, 2007.

See Box 5.4 of the October 1998 WEO for details on how the conversion rates were established.

What’s New

  • Argentine’s consumer prices, which were previously excluded from the group composites because of data constraints, are now included starting from 2017 onward.

  • Data for Aruba are included in the data aggregated for the emerging market and developing economies.

  • Egypt’s forecast data from which the nominal exchange rate assumptions are calculated that were previously excluded because the nominal exchange rate was a market-sensitive issue, are now made public.

  • Swaziland is now called Eswatini.

  • Venezuela redenominated its currency on August 20, 2018, by replacing 100,000 bolívares Fuertes (VEF) with 1 bolívar Soberano (VES). Local currency data, including the historical data, for Venezuela are expressed in the new currency beginning with the October 2018 WEO database.

Data and Conventions

Data and projections for 194 economies form the statistical basis of the WEO database. The data are maintained jointly by the IMF’s Research Department and regional departments, with the latter regularly updating country projections based on consistent global assumptions.

Although national statistical agencies are the ultimate providers of historical data and definitions, international organizations are also involved in statistical issues, with the objective of harmonizing methodologies for the compilation of national statistics, including analytical frameworks, concepts, definitions, classifications, and valuation procedures used in the production of economic statistics. The WEO database reflects information from both national source agencies and international organizations.

Most countries’ macroeconomic data presented in the WEO conform broadly to the 2008 version of the System of National Accounts (SNA). The IMF’s sector statistical standards—the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6), the Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG), and the Government Finance Statistics Manual 2014 (GFSM 2014)—have been or are being aligned with the SNA 2008. These standards reflect the IMF’s special interest in countries’ external positions, financial sector stability, and public sector fiscal positions. The process of adapting country data to the new standards begins in earnest when the manuals are released. However, full concordance with the manuals is ultimately dependent on the provision by national statistical compilers of revised country data; hence, the WEO estimates are only partially adapted to these manuals. Nonetheless, for many countries, the impact on major balances and aggregates of conversion to the updated standards will be small. Many other countries have partially adopted the latest standards and will continue implementation over a period of years.1

The fiscal gross and net debt data reported in the WEO are drawn from official data sources and IMF staff estimates. While attempts are made to align gross and net debt data with the definitions in the GFSM, as a result of data limitations or specific country circumstances, these data can sometimes deviate from the formal definitions. Although every effort is made to ensure the WEO data are relevant and internationally comparable, differences in both sectoral and instrument coverage mean that the data are not universally comparable. As more information becomes available, changes in either data sources or instrument coverage can give rise to data revisions that can sometimes be substantial. For clarification on the deviations in sectoral or instrument coverage, please refer to the metadata for the online WEO database.

Composite data for country groups in the WEO are either sums or weighted averages of data for individual countries. Unless noted otherwise, multiyear averages of growth rates are expressed as compound annual rates of change.2 Arithmetically weighted averages are used for all data for the emerging market and developing economies group—except data on inflation and money growth, for which geometric averages are used. The following conventions apply:

Country group composites for exchange rates, interest rates, and growth rates of monetary aggregates are weighted by GDP converted to US dollars at market exchange rates (averaged over the preceding three years) as a share of group GDP.

Composites for other data relating to the domestic economy, whether growth rates or ratios, are weighted by GDP valued at purchasing power parity as a share of total world or group GDP.3 Annual inflation rates are simple percentage changes from the previous years, except in the case of emerging market and developing economies, for which the rates are based on logarithmic differences.

Composites for real GDP per capita in purchasing power parity terms are sums of individual country data after conversion to the international dollar in the years indicated.

Unless noted otherwise, composites for all sectors for the euro area are corrected for reporting discrepancies in intra-area transactions. Unadjusted annual GDP data are used for the euro area and for the majority of individual countries, except for Cyprus, Germany, Ireland, and Portugal, which report calendar adjusted data. For data prior to 1999, data aggregations apply 1995 European currency unit exchange rates.

Composites for fiscal data are sums of individual country data after conversion to US dollars at the average market exchange rates in the years indicated.

Composite unemployment rates and employment growth are weighted by labor force as a share of group labor force.

Composites relating to external sector statistics are sums of individual country data after conversion to US dollars at the average market exchange rates in the years indicated for balance of payments data and at end-of-year market exchange rates for debt denominated in currencies other than US dollars.

Composites of changes in foreign trade volumes and prices, however, are arithmetic averages of percent changes for individual countries weighted by the US dollar value of exports or imports as a share of total world or group exports or imports (in the preceding year).

Unless noted otherwise, group composites are computed if 90 percent or more of the share of group weights is represented.

Data refer to calendar years, except in the case of a few countries that use fiscal years; Table F lists the economies with exceptional reporting periods for national accounts and government finance data for each country.

For some countries, the figures for 2017 and earlier are based on estimates rather than actual outturns; Table G lists the latest actual outturns for the indicators in the national accounts, prices, government finance, and balance of payments indicators for each country.

Country Notes

The consumer price data for Argentina before December 2013 reflect the consumer price index (CPI) for the Greater Buenos Aires Area (CPI-GBA), while from December 2013 to October 2015 the data reflect the national CPI (IPCNu). The government that took office in December 2015 discontinued the IPCNu, stating that it was flawed, and released a new CPI for the Greater Buenos Aires Area on June 15, 2016 (a new national CPI has been disseminated starting in June 2017). At its November 9, 2016, meeting, the IMF Executive Board considered the new CPI series to be in line with international standards and lifted the declaration of censure issued in 2013. Given the differences in geographical coverage, weights, sampling, and methodology of these series, the average CPI inflation for 2014, 2015, and 2016, and end-of-period inflation for 2015 and 2016 are not reported in the October 2018 WEO.

Argentina’s authorities discontinued the publication of labor market data in December 2015 and released new series starting in the second quarter of 2016.

Greece’s primary balance estimates for 2017 are based on preliminary excessive deficit procedure data on an accrual basis (ESA 2010) provided by the National Statistical Service as of April 23, 2018. Historical data since 2010 reflect adjustments in line with the primary balance definition under the enhanced surveillance procedure for Greece.

India’s real GDP growth rates are calculated as per national accounts: for 1998 to 2011, with base year 2004/05; thereafter, with base year 2011/12.

Against the background of a civil war and weak capacities, the reliability of Libya’s data, especially medium-term projections, is low.

Data for Syria are excluded from 2011 onward because of the uncertain political situation.

Data and projections for Turkey represent information available as of September 11, 2018.

Projecting the economic outlook in Venezuela, including assessing past and current economic developments as the basis for the projections, is complicated by the lack of discussions with the authorities (the last Article IV consultation took place in 2004), long intervals in receiving data with information gaps, incomplete provision of information, and difficulties in interpreting certain reported economic indicators given economic developments. The fiscal accounts include the budgetary central government and Petróleos de Venezuela, S.A. (PDVSA), and data for 2016–23 are IMF staff estimates. Revenue includes the IMF staff’s estimate of foreign exchange profits transferred from the central bank to the government (buying US dollars at the most appreciated rate and selling at more depreciated rates in a multitier exchange rate system) and excludes IMF staff’s estimate of revenue from PDVSA’s sale of PetroCaribe assets to the central bank. The effects of hyperinflation and the noted data gaps mean that IMF staff’s projected macroeconomic indicators need to be interpreted with caution. For example, nominal GDP is estimated assuming the GDP deflator rises in line with IMF staff’s projection of average inflation. Public external debt in relation to GDP is projected using IMF staff’s estimate of the average exchange rate for the year. Fiscal accounts for 2010–23 correspond to the budgetary central government and PDVSA. Fiscal accounts before 2010 correspond to the budgetary central government, public enterprises (including PDVSA), Instituto Venezolano de los Seguros Sociales (IVSS - social security), and Fondo de Garantía de Depósitos y Protección Bancaria (FOGADE - deposit insurance).

Venezuela’s consumer prices (CPI) are excluded from all WEO group composites.

Classification of Countries

Summary of the Country Classification

The country classification in the WEO divides the world into two major groups: advanced economies and emerging market and developing economies.4 This classification is not based on strict criteria, economic or otherwise, and it has evolved over time. The objective is to facilitate analysis by providing a reasonably meaningful method of organizing data. Table A provides an overview of the country classification, showing the number of countries in each group by region and summarizing some key indicators of their relative size (GDP valued at purchasing power parity, total exports of goods and services, and population).

Some countries remain outside the country classification and therefore are not included in the analysis. Cuba and the Democratic People’s Republic of Korea are examples of countries that are not IMF members, and their economies therefore are not monitored by the IMF.

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

Advanced Economies

The 39 advanced economies are listed in Table B. The seven largest in terms of GDP based on market exchange rates—the United States, Japan, Germany, France, Italy, the United Kingdom, and Canada—constitute the subgroup of major advanced economies; often referred to as the Group of Seven (G7). The members of the euro area are also distinguished as a subgroup. Composite data shown in the tables for the euro area cover the current members for all years, even though the membership has increased over time.

Table C lists the member countries of the European Union, not all of which are classified as advanced economies in the WEO.

Emerging Market and Developing Economies

The group of emerging market and developing economies (155) includes all those that are not classified as advanced economies.

The regional breakdowns of emerging market and developing economies are Commonwealth of Independent States (CIS); emerging and developing Asia; emerging and developing Europe (sometimes also referred to as “central and eastern Europe”); Latin America and the Caribbean (LAC); the Middle East, North Africa, Afghanistan, and Pakistan (MENAP); and sub-Saharan Africa (SSA).

Emerging market and developing economies are also classified according to analytical criteria. The analytical criteria reflect the composition of export earnings and a distinction between net creditor and net debtor economies. The detailed composition of emerging market and developing economies in the regional and analytical groups is shown in Tables D and E.

The analytical criterion source of export earnings distinguishes between the categories fuel (Standard International Trade Classification [SITC] 3) and nonfuel and then focuses on nonfuel primary products (SITCs 0, 1, 2, 4, and 68). Economies are categorized into one of these groups when their main source of export earnings exceeded 50 percent of total exports on average between 2013 and 2017.5

The financial criteria focus on net creditor economies, net debtor economies, heavily indebted poor countries (HIPCs), and low-income developing countries (LIDCs). Economies are categorized as net debtors when their latest net international investment position, where available, was less than zero or their current account balance accumulations from 1972 (or earliest available data) to 2017 were negative. Net debtor economies are further differentiated on the basis of experience with debt servicing.

The HIPC group comprises the countries that are or have been considered by the IMF and the World Bank for participation in their debt initiative known as the HIPC Initiative, which aims to reduce the external debt burdens of all the eligible HIPCs to a “sustainable” level in a reasonably short period of time.6 Many of these countries have already benefited from debt relief and have graduated from the initiative.

The LIDCs are countries that have per capita income levels below a certain threshold (set at $2,700 in 2016 as measured by the World Bank’s Atlas method), structural features consistent with limited development and structural transformation, and insufficiently close external financial linkages to be widely seen as emerging market economies.

Table A.Classification by World Economic Outlook Groups and Their Shares in Aggregate GDP, Exports of Goods and Services, and Population, 20171(Percent of total for group or world)
GDPExports of Goods and ServicesPopulation
Number of EconomiesAdvanced EconomiesWorldAdvanced EconomiesWorldAdvanced EconomiesWorld
Advanced Economies39100.041.3100.063.6100.014.4
United States37.015.316.310.430.64.4
Euro Area1928.111.641.426.331.84.6
Germany8.03.312.17.77.81.1
France5.42.25.73.76.10.9
Italy4.41.84.22.75.70.8
Spain3.41.43.12.04.40.6
Japan10.34.36.13.911.91.7
United Kingdom5.52.35.53.56.20.9
Canada3.41.43.52.23.40.5
Other Advanced Economies1615.76.527.217.316.02.3
Memorandum
Major Advanced Economies774.030.653.433.971.710.3
EmergingEmergingEmerging
Market andMarket andMarket and
DevelopingDevelopingDeveloping
EconomiesWorldEconomiesWorldEconomiesWorld
Emerging Market and Developing Economies155100.058.7100.036.4100.085.6
Regional Groups
Commonwealth of Independent States2127.64.57.52.74.53.9
Russia5.43.25.01.82.32.0
Emerging and Developing Asia3055.232.449.518.056.648.4
China31.018.229.310.722.018.8
India12.77.46.12.220.917.8
Excluding China and India2811.56.714.15.113.711.8
Emerging and Developing Europe126.13.69.93.62.82.4
Latin America and the Caribbean3313.17.714.15.19.88.4
Brazil4.32.53.01.13.32.8
Mexico3.31.95.31.92.01.7
Middle East, North Africa, Afghanistan, and
Pakistan2312.87.514.65.310.99.3
Middle East and North Africa2111.36.614.35.27.26.2
Sub-Saharan Africa455.13.04.41.615.313.1
Excluding Nigeria and South Africa432.61.52.60.911.59.8
Analytical Groups3
By Source of Export Earnings
Fuel2817.910.520.97.611.710.1
Nonfuel12682.148.279.128.888.375.5
Of Which, Primary Products325.03.05.31.98.47.2
By External Financing Source
Net Debtor Economies12349.729.145.916.766.957.3
Net Debtor Economies by Debt-Servicing Experience
Economies with Arrears and/or Rescheduling during 2012–16263.52.12.40.96.45.5
Other Groups
Heavily Indebted Poor Countries392.51.42.00.711.59.8
Low-Income Developing Countries597.24.26.82.522.719.4

The GDP shares are based on the purchasing-power-parity valuation of economies’ GDP. The number of economies comprising each group reflects those for which data are included in the group aggregates.

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

Syria is omitted from the source of export earnings and South Sudan and Syria are omitted from the net external position group composites because of insufficient data.

The GDP shares are based on the purchasing-power-parity valuation of economies’ GDP. The number of economies comprising each group reflects those for which data are included in the group aggregates.

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

Syria is omitted from the source of export earnings and South Sudan and Syria are omitted from the net external position group composites because of insufficient data.

Table B.Advanced Economies by Subgroup
Major Currency Areas
United States
Euro Area
Japan
Euro Area
AustriaGreeceNetherlands
BelgiumIrelandPortugal
CyprusItalySlovak Republic
EstoniaLatviaSlovenia
FinlandLithuaniaSpain
FranceLuxembourg
GermanyMalta
Major Advanced Economies
CanadaItalyUnited States
FranceJapan
GermanyUnited Kingdom
Other Advanced Economies
AustraliaKoreaSingapore
Czech RepublicMacao SAR2Sweden
DenmarkNew ZealandSwitzerland
Hong Kong SAR1NorwayTaiwan Province of China
IcelandPuerto Rico
IsraelSan Marino

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

On December 20, 1999, Macao was returned to the People’s Republic of China and became a Special Administrative Region of China.

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

On December 20, 1999, Macao was returned to the People’s Republic of China and became a Special Administrative Region of China.

Table C.European Union
AustriaGermanyPoland
BelgiumGreecePortugal
BulgariaHungaryRomania
CroatiaIrelandSlovak Republic
CyprusItalySlovenia
Czech RepublicLatviaSpain
DenmarkLithuaniaSweden
EstoniaLuxembourgUnited Kingdom
FinlandMalta
FranceNetherlands
Table D.Emerging Market and Developing Economies by Region and Main Source of Export Earnings
FuelNonfuel Primary Products
Commonwealth of Independent States
AzerbaijanUzbekistan
Kazakhstan
Russia
Turkmenistan1
Emerging and Developing Asia
Brunei DarussalamKiribati
Timor-LesteLao P.D.R.
Marshall Islands
Mongolia
Papua New Guinea
Solomon Islands
Tuvalu
Latin America and the Caribbean
BoliviaArgentina
EcuadorChile
Trinidad and TobagoGuyana
VenezuelaParaguay
Peru
Suriname
Uruguay
Middle East, North Africa, Afghanistan, and Pakistan
AlgeriaAfghanistan
BahrainMauritania
IranSudan
Iraq
Kuwait
Libya
Oman
Qatar
Saudi Arabia
United Arab Emirates
Yemen
Sub-Saharan Africa
AngolaBurkina Faso
ChadBurundi
Republic of CongoCentral African Republic
Equatorial GuineaDemocratic Republic of the Congo
GabonCôte d’Ivoire
NigeriaEritrea
South SudanGuinea
Guinea-Bissau
Liberia
Malawi
Mali
Sierra Leone
South Africa
Zambia

Turkmenistan, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarity in economic structure.

Turkmenistan, which is not a member of the Commonwealth of Independent States, is included in this group for reasons of geography and similarity in economic structure.

Table E.Emerging Market and Developing Economies by Region, Net External Position, and Status as Heavily Indebted Poor Countries and Low-Income Developing Countries
Net External Position1Heavily Indebted Poor Countries2Low-Income Developing Countries
Commonwealth of Independent States
Armenia*
Azerbaijan
Belarus*
Georgia3*
Kazakhstan*
Kyrgyz Republic**
Moldova**
Russia
Tajikistan**
Turkmenistan3*
Ukraine3*
Uzbekistan*
Emerging and Developing Asia
Bangladesh**
Bhutan**
Brunei Darussalam
Cambodia**
China
Fiji*
India*
Indonesia*
Kiribati*
Lao P.D.R.**
Malaysia*
Maldives*
Marshall Islands*
Micronesia
Mongolia*
Myanmar**
Nauru*
Nepal*
Palau
Papua New Guinea**
Philippines*
Samoa*
Solomon Islands**
Sri Lanka*
Thailand
Timor-Leste*
Tonga*
Tuvalu*
Vanuatu*
Vietnam**
Emerging and Developing Europe
Albania*
Bosnia and Herzegovina*
Bulgaria*
Croatia*
Hungary*
Kosovo*
FYR Macedonia*
Montenegro*
Poland*
Romania*
Serbia*
Turkey*
Latin America and the Caribbean
Antigua and Barbuda*
Argentina
Aruba*
The Bahamas*
Barbados*
Belize*
Bolivia*
Brazil*
Chile*
Colombia*
Costa Rica*
Dominica*
Dominican Republic*
Ecuador*
El Salvador*
Grenada*
Guatemala*
Guyana*
Haiti**
Honduras**
Jamaica*
Mexico*
Nicaragua**
Panama*
Paraguay*
Peru*
St. Kitts and Nevis*
St. Lucia*
St. Vincent and the Grenadines*
Suriname*
Trinidad and Tobago
Uruguay*
Venezuela
Middle East, North Africa, Afghanistan, and Pakistan
Afghanistan*
Algeria
Bahrain
Djibouti**
Egypt*
Iran
Iraq
Jordan*
Kuwait
Lebanon*
Libya
Mauritania**
Morocco*
Oman
Pakistan*
Qatar
Saudi Arabia
Somalia***
Sudan***
Syria4
Tunisia*
United Arab Emirates
Yemen**
Sub-Saharan Africa
Angola*
Benin**
Botswana
Burkina Faso**
Burundi**
Cabo Verde*
Cameroon**
Central African Republic**
Chad**
Comoros**
Democratic Republic of the Congo**
Republic of Congo**
Côte d’Ivoire**
Equatorial Guinea*
Eritrea***
Eswatini
Ethiopia**
Gabon
The Gambia
Ghana**
Guinea**
Guinea-Bissau**
Kenya**
Lesotho**
Liberia**
Madagascar**
Malawi**
Mali**
Mauritius**
Mozambique
Namibia**
Niger*
Nigeria**
Rwanda**
São Tomé and Príncipe**
Senegal**
Seychelles**
Sierra Leone*
South Africa**
South Sudan4*
Tanzania**
Togo**
Uganda**
Zambia**
Zimbabwe**

Dot (star) indicates that the country is a net creditor (net debtor).

Dot instead of star indicates that the country has reached the completion point, which allows it to receive the full debt relief committed to at the decision point.

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

South Sudan and Syria are omitted from the net external position group composite for lack of a fully developed database.

Dot (star) indicates that the country is a net creditor (net debtor).

Dot instead of star indicates that the country has reached the completion point, which allows it to receive the full debt relief committed to at the decision point.

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

South Sudan and Syria are omitted from the net external position group composite for lack of a fully developed database.

Table F.Economies with Exceptional Reporting Periods1
National AccountsGovernment Finance
The BahamasJul/Jun
BarbadosApr/Mar
BelizeApr/Mar
BhutanJul/JunJul/Jun
BotswanaApr/Mar
DominicaJul/Jun
EgyptJul/JunJul/Jun
EswatiniApr/Mar
EthiopiaJul/JunJul/Jun
HaitiOct/SepOct/Sep
Hong Kong SARApr/Mar
IndiaApr/MarApr/Mar
IranApr/MarApr/Mar
JamaicaApr/Mar
LesothoApr/MarApr/Mar
MalawiJul/Jun
Marshall IslandsOct/SepOct/Sep
MauritiusJul/Jun
MicronesiaOct/SepOct/Sep
MyanmarOct/SepOct/Sep
NauruJul/JunJul/Jun
NepalAug/JulAug/Jul
PakistanJul/JunJul/Jun
PalauOct/SepOct/Sep
Puerto RicoJul/JunJul/Jun
St. LuciaApr/Mar
SamoaJul/JunJul/Jun
SingaporeApr/Mar
ThailandOct/Sep
Trinidad and TobagoOct/Sep

Unless noted otherwise, all data refer to calendar years.

Unless noted otherwise, all data refer to calendar years.

Table G.Key Data Documentation
National AccountsPrices (CPI)
CountryCurrencyHistorical Data Source1Latest Actual Annual DataBase Year2System of National AccountsUse of Chain-Weighted Methodology3Historical Data Source1Latest Actual Annual Data
AfghanistanAfghan afghaniNSO20162002/03SNA 1993NSO2017
AlbaniaAlbanian lekIMF staff20161996SNA 1993From 1996NSO2017
AlgeriaAlgerian dinarNSO20172001SNA 1993From 2005NSO2017
AngolaAngolan kwanzaNSO and MEP20152002ESA 1995NSO2015
Antigua and BarbudaEastern Caribbean dollarCB201620066SNA 1993NSO2016
ArgentinaArgentine pesoNSO20172004SNA 2008NSO2017
ArmeniaArmenian dramNSO20162005SNA 2008NSO2016
ArubaAruban florinNSO20172000SNA 1993From 2000NSO2017
AustraliaAustralian dollarNSO20172015/16SNA 2008From 1980NSO2017
AustriaEuroNSO20172010ESA 2010From 1995NSO2017
AzerbaijanAzerbaijan manatNSO20162005SNA 1993From 1994NSO2017
The BahamasBahamian dollarNSO20162012SNA 1993NSO2017
BahrainBahrain dinarNSO20172010SNA 2008NSO2017
BangladeshBangladesh takaNSO20172005/06SNA 1993NSO2017
BarbadosBarbados dollarNSO and CB20172010SNA 1993NSO2017
BelarusBelarusian rubleNSO20172014SNA 2008From 2005NSO2017
BelgiumEuroCB20172015ESA 2010From 1995CB2017
BelizeBelize dollarNSO20162000SNA 1993NSO2016
BeninCFA francNSO20152007SNA 1993NSO2017
BhutanBhutanese ngultrumNSO2015/162000/016SNA 1993CB2016/17
BoliviaBolivian bolivianoNSO20161990SNA 2008NSO2017
Bosnia and HerzegovinaBosnia convertible markaNSO20172010ESA 2010From 2000NSO2017
BotswanaBotswana pulaNSO20172006SNA 1993NSO2017
BrazilBrazilian realNSO20171995SNA 2008NSO2017
Brunei DarussalamBrunei dollarNSO and GAD20172010SNA 1993NSO and GAD2017
BulgariaBulgarian levNSO20172010ESA 2010From 1996NSO2017
Burkina FasoCFA francNSO and MEP20161999SNA 1993NSO2017
BurundiBurundi francNSO20152005SNA 1993NSO2017
Cabo VerdeCabo Verdean escudoNSO20172007SNA 2008From 2011NSO2017
CambodiaCambodian rielNSO20172000SNA 1993NSO2017
CameroonCFA francNSO20162005SNA 2008NSO2017
CanadaCanadian dollarNSO20172007SNA 2008From 1980NSO2017
Central African RepublicCFA francNSO20122005SNA 1993NSO2015
ChadCFA francCB20172005NSO2017
ChileChilean pesoCB201720136SNA 2008From 2003NSO2017
ChinaChinese yuanNSO20172015SNA 2008NSO2017
ColombiaColombian pesoNSO20172015SNA 1993From 2000NSO2017
ComorosComorian francMEP20172000NSO2017
Democratic Republic of the CongoCongolese francNSO20162005SNA 1993CB2016
Republic of CongoCFA francNSO20161990SNA 1993NSO2017
Costa RicaCosta Rican colónCB20162012SNA 2008CB2016
Note: BPM = Balance of Payments Manual; CPI = consumer price Index; ESA = European System of National Accounts; SNA = System of National Accounts.

CB = central bank; Customs = Customs Authority; GAD = General Administration Department; IEO = International economic organization; MEP = Ministry of Economy, Planning, Commerce, and/or Development; MoF = Ministry of Finance and/or Treasury; NSO = National Statistics Office; PFTAC = Pacific Financial Technical Assistance Centre.

National accounts base year is the period with which other periods are compared and the period for which prices appear in the denominators of the price relationships used to calculate the index.

Use of chain-weighted methodology allows countries to measure GDP growth more accurately by reducing or eliminating the downward biases in volume series built on index numbers that average volume components using weights from a year in the moderately distant past.

BCG = budgetary central government; CG = central government; EUA = extrabudgetary units/accounts; LG = local government; MPC = monetary public corporation, including central bank; NFPC = nonfinancial public corporation; NMPC = nonmonetary financial public corporation; SG = state government; SS = social security fund; TG = territorial governments.

Accounting standard: A = accrual accounting; C = cash accounting; CB = commitments basis accounting; Mixed = combination of accrual and cash accounting.

Base year is not equal to 100 because the nominal GDP is not measured in the same way as real GDP or the data are seasonally adjusted.

Government FinanceBalance of Payments
CountryHistorical Data Source1Latest Actual Annual DataStatistics Manual in Use at SourceSubsectors Coverage4Accounting Practice5Historical Data Source1Latest Actual Annual DataStatistics Manual in Use at Source
AfghanistanMoF20172001CGCNSO, MoF, and CB2017BPM 5
AlbaniaIMF staff20161986CG,LG,SS,MPC, NFPCCB2016BPM 6
AlgeriaMoF20171986CGCCB2017BPM 6
AngolaMoF20162001CG,LGCB2016BPM 6
Antigua and BarbudaMoF20162001CGCCB2016BPM 6
ArgentinaMEP20171986CG,SG,SSCNSO2017BPM 6
ArmeniaMoF20162001CGCCB2016BPM 6
ArubaMoF20172001CGMixedCB2017BPM 5
AustraliaMoF20162014CG,SG,LG,TGANSO2017BPM 6
AustriaNSO20172001CG,SG,LG,SSACB2017BPM 6
AzerbaijanMoF2015CGCCB2016BPM 6
The BahamasMoF2016/172001CGCCB2017BPM 5
BahrainMoF20162001CGCCB2017BPM 6
BangladeshMoF2017CGCCB2017BPM 6
BarbadosMoF2016/171986BCGCCB2016BPM 5
BelarusMoF20172001CG,LG,SSCCB2017BPM 6
BelgiumCB2017ESA 2010CG,SG,LG,SSACB2017BPM 6
BelizeMoF2016/171986CG,MPCMixedCB2016BPM 6
BeninMoF20171986CGCCB2016BPM 6
BhutanMoF2016/171986CGCCB2015/16BPM 6
BoliviaMoF20162001CG,LG,SS,NMPC, NFPCCCB2016BPM 6
Bosnia and HerzegovinaMoF20172001CG,SG,LG,SSMixedCB2017BPM 6
BotswanaMoF2017/181986CGCCB2017BPM 6
BrazilMoF20172001CG,SG,LG,SS, MPC,NFPCCCB2017BPM 6
Brunei DarussalamMoF2017CG, BCGCNSO, MEP, and GAD2017BPM 6
BulgariaMoF20172001CG,LG,SSCCB2017BPM 6
Burkina FasoMoF20172001CGCBCB2016BPM 6
BurundiMoF20152001CGACB2016BPM 6
Cabo VerdeMoF20172001CGANSO2017BPM 6
CambodiaMoF20161986CG,LGACB2017BPM 5
CameroonMoF20162001CG,NFPCCMoF2016BPM 5
CanadaMoF20172001CG,SG,LG,SS,OtherANSO2017BPM 6
Central African RepublicMoF20162001CGCCB2015BPM 5
ChadMoF20171986CG,NFPCCCB2015BPM 6
ChileMoF20172001CG,LGACB2017BPM 6
ChinaMoF2017CG,LGCGAD2017BPM 6
ColombiaMoF20172001CG,SG,LG,SSCB and NSO2017BPM 6
ComorosMoF20171986CGMixedCB and IMF staff2017BPM 5
Democratic Republic of the CongoMoF20162001CG,LGACB2016BPM 5
Republic of CongoMoF20172001CGACB2016BPM 6
Costa RicaMoF and CB20161986CGCCB2016BPM 6
Note: BPM = Balance of Payments Manual; CPI = consumer price Index; ESA = European System of National Accounts; SNA = System of National Accounts.

CB = central bank; Customs = Customs Authority; GAD = General Administration Department; IEO = International economic organization; MEP = Ministry of Economy, Planning, Commerce, and/or Development; MoF = Ministry of Finance and/or Treasury; NSO = National Statistics Office; PFTAC = Pacific Financial Technical Assistance Centre.

National accounts base year is the period with which other periods are compared and the period for which prices appear in the denominators of the price relationships used to calculate the index.

Use of chain-weighted methodology allows countries to measure GDP growth more accurately by reducing or eliminating the downward biases in volume series built on index numbers that average volume components using weights from a year in the moderately distant past.

BCG = budgetary central government; CG = central government; EUA = extrabudgetary units/accounts; LG = local government; MPC = monetary public corporation, including central bank; NFPC = nonfinancial public corporation; NMPC = nonmonetary financial public corporation; SG = state government; SS = social security fund; TG = territorial governments.

Accounting standard: A = accrual accounting; C = cash accounting; CB = commitments basis accounting; Mixed = combination of accrual and cash accounting.

Base year is not equal to 100 because the nominal GDP is not measured in the same way as real GDP or the data are seasonally adjusted.

National AccountsPrices (CPI)
CountryCurrencyHistorical Data Source1Latest Actual Annual DataBase Year2System of National AccountsUse of Chain-Weighted Methodology3Historical Data Source1Latest Actual Annual Data
Côte d’IvoireCFA francNSO20152009SNA 1993NSO2017
CroatiaCroatian kunaNSO20172010ESA 2010NSO2017
CyprusEuroNSO20172005ESA 2010From 1995NSO2017
Czech RepublicCzech korunaNSO20172010ESA 2010From 1995NSO2017
DenmarkDanish kroneNSO20172010ESA 2010From 1980NSO2017
DjiboutiDjibouti francNSO20171990SNA 1993NSO2017
DominicaEastern Caribbean dollarNSO20162006SNA 1993NSO2016
Dominican RepublicDominican pesoCB20172007SNA 2008From 2007CB2017
EcuadorUS dollarCB20162007SNA 1993NSO and CB2017
EgyptEgyptian poundMEP2016/172011/12SNA 2008NSO2017/18
El SalvadorUS dollarCB20172005SNA 2008NSO2017
Equatorial GuineaCFA francMEP and CB20162006SNA 1993MEP2017
EritreaEritrean nakfaIMF staff20062005SNA 1993NSO2009
EstoniaEuroNSO20172010ESA 2010From 2010NSO2017
EswatiniSwazi lilangeniNSO20162011SNA 1993NSO2017
EthiopiaEthiopian birrNSO2016/172015/16SNA 1993NSO2017
FijiFijian dollarNSO201620116SNA 1993NSO2017
FinlandEuroNSO20172010ESA 2010From 1980NSO2017
FranceEuroNSO20172014ESA 2010From 1980NSO2017
GabonCFA francMoF20162001SNA 1993NSO2017
The GambiaGambian dalasiNSO20172013SNA 1993NSO2017
GeorgiaGeorgian lariNSO20162000SNA 1993From 1996NSO2017
GermanyEuroNSO20172010ESA 2010From 1991NSO2017
GhanaGhanaian cediNSO20172006SNA 1993NSO2017
GreeceEuroNSO20172010ESA 2010From 1995NSO2017
GrenadaEastern Caribbean dollarNSO20172006SNA 1993NSO2017
GuatemalaGuatemalan quetzalCB20172001SNA 1993From 2001NSO2017
GuineaGuinean francNSO20162010SNA 1993NSO2017
Guinea-BissauCFA francNSO20162005SNA 1993NSO2017
GuyanaGuyanese dollarNSO201720066SNA 1993NSO2017
HaitiHaitian gourdeNSO2016/171986/87SNA 1993NSO2016/17
HondurasHonduran lempiraCB20162000SNA 1993CB2016
Hong Kong SARHong Kong dollarNSO20172016SNA 2008From 1980NSO2017
HungaryHungarian forintNSO20172005ESA 2010From 2005IEO2017
IcelandIcelandic krónaNSO20172005ESA 2010From 1990NSO2017
IndiaIndian rupeeNSO2017/182011/12SNA 2008NSO2017/18
IndonesiaIndonesian rupiahNSO20172010SNA 2008NSO2017
IranIranian rialCB2016/172011/12SNA 1993CB2016/17
IraqIraqi dinarNSO20172007SNA 1968/93NSO2017
IrelandEuroNSO20172015ESA 2010From 1995NSO2017
IsraelNew Israeli shekelNSO20172015SNA 2008From 1995NSO2017
ItalyEuroNSO20172010ESA 2010From 1980NSO2017
JamaicaJamaican dollarNSO20162007SNA 1993NSO2016
Note: BPM = Balance of Payments Manual; CPI = consumer price Index; ESA = European System of National Accounts; SNA = System of National Accounts.

CB = central bank; Customs = Customs Authority; GAD = General Administration Department; IEO = International economic organization; MEP = Ministry of Economy, Planning, Commerce, and/or Development; MoF = Ministry of Finance and/or Treasury; NSO = National Statistics Office; PFTAC = Pacific Financial Technical Assistance Centre.

National accounts base year is the period with which other periods are compared and the period for which prices appear in the denominators of the price relationships used to calculate the index.

Use of chain-weighted methodology allows countries to measure GDP growth more accurately by reducing or eliminating the downward biases in volume series built on index numbers that average volume components using weights from a year in the moderately distant past.

BCG = budgetary central government; CG = central government; EUA = extrabudgetary units/accounts; LG = local government; MPC = monetary public corporation, including central bank; NFPC = nonfinancial public corporation; NMPC = nonmonetary financial public corporation; SG = state government; SS = social security fund; TG = territorial governments.

Accounting standard: A = accrual accounting; C = cash accounting; CB = commitments basis accounting; Mixed = combination of accrual and cash accounting.

Base year is not equal to 100 because the nominal GDP is not measured in the same way as real GDP or the data are seasonally adjusted.

Government FinanceBalance of Payments
CountryHistorical Data Source1Latest Actual Annual DataStatistics Manual in Use at SourceSubsectors Coverage4Accounting Practice5Historical Data Source1Latest Actual Annual DataStatistics Manual in Use at Source
Côte d’IvoireMoF20171986CGACB2016BPM 6
CroatiaMoF20172001CG,LGACB2017BPM 6
CyprusNSO2017ESA 2010CG,LG,SSACB2017BPM 6
Czech RepublicMoF20162001CG,LG,SSANSO2017BPM 6
DenmarkNSO20172001CG,LG,SSANSO2017BPM 6
DjiboutiMoF20162001CGACB2016BPM 5
DominicaMoF2016/171986CGCCB2016BPM 6
Dominican RepublicMoF20172001CG,SG,LG,SS, NMPCMixedCB2017BPM 6
EcuadorCB and MoF20161986CG,SG,LG,SS, NFPCCCB2016BPM 6
EgyptMoF2016/172001CG,LG,SS,MPCCCB2016/17BPM 5
El SalvadorMoF and CB20171986CG,LG,SSCCB2017BPM 6
Equatorial GuineaMoF20161986CGCCB2016BPM 5
EritreaMoF20082001CGCCB2008BPM 5
EstoniaMoF20171986/2001CG,LG,SSCCB2017BPM 6
EswatiniMoF2017/182001CGACB2017BPM 6
EthiopiaMoF2015/161986CG,SG,LG,NFPCCCB2016/17BPM 5
FijiMoF20171986CGCCB2017BPM 6
FinlandMoF20162001CG,LG,SSANSO2017BPM 6
FranceNSO20172001CG,LG,SSACB2017BPM 6
GabonIMF staff20172001CGACB2016BPM 5
The GambiaMoF20171986CGCCB and IMF staff2017BPM 5
GeorgiaMoF20172001CG,LGCNSO and CB2016BPM 6
GermanyNSO20172001CG,SG,LG,SSACB2017BPM 6
GhanaMoF20172001CGCCB2017BPM 5
GreeceNSO20172014CG,LG,SSACB2017BPM 6
GrenadaMoF20172001CGCBCB2016BPM 6
GuatemalaMoF20172001CGCCB2017BPM 6
GuineaMoF20172001CGCCB and MEP2017BPM 6
Guinea-BissauMoF20172001CGACB2016BPM 6
GuyanaMoF20171986CG,SS,NFPCCCB2017BPM 6
HaitiMoF2016/172001CGCCB2016/17BPM 5
HondurasCB and MoF20172014CG,LG,SS,OtherMixedCB2015BPM 5
Hong Kong SARNSO2017/182001CGCNSO2017BPM 6
HungaryMEP and NSO2017ESA 2010CG,LG,SS,NMPCACB2017BPM 6
IcelandNSO20172001CG,LG,SSACB2017BPM 6
IndiaMoF and IMF staff2017/181986CG,SGCCB2017/18BPM 6
IndonesiaMoF20172001CG,LGCCB2017BPM 6
IranMoF2016/172001CGCCB2016/17BPM 5
IraqMoF20172001CGCCB2017BPM 6
IrelandMoF and NSO20172001CG,LG,SSANSO2017BPM 6
IsraelMoF and NSO20172001CG,LG,SSNSO2017BPM 6
ItalyNSO20172001CG,LG,SSANSO2017BPM 6
JamaicaMoF2016/171986CGCCB2016BPM 5
Note: BPM = Balance of Payments Manual; CPI = consumer price Index; ESA = European System of National Accounts; SNA = System of National Accounts.

CB = central bank; Customs = Customs Authority; GAD = General Administration Department; IEO = International economic organization; MEP = Ministry of Economy, Planning, Commerce, and/or Development; MoF = Ministry of Finance and/or Treasury; NSO = National Statistics Office; PFTAC = Pacific Financial Technical Assistance Centre.

National accounts base year is the period with which other periods are compared and the period for which prices appear in the denominators of the price relationships used to calculate the index.

Use of chain-weighted methodology allows countries to measure GDP growth more accurately by reducing or eliminating the downward biases in volume series built on index numbers that average volume components using weights from a year in the moderately distant past.

BCG = budgetary central government; CG = central government; EUA = extrabudgetary units/accounts; LG = local government; MPC = monetary public corporation, including central bank; NFPC = nonfinancial public corporation; NMPC = nonmonetary financial public corporation; SG = state government; SS = social security fund; TG = territorial governments.

Accounting standard: A = accrual accounting; C = cash accounting; CB = commitments basis accounting; Mixed = combination of accrual and cash accounting.

Base year is not equal to 100 because the nominal GDP is not measured in the same way as real GDP or the data are seasonally adjusted.

National AccountsPrices (CPI)
CountryCurrencyHistorical Data Source1Latest Actual Annual DataBase Year2System of National AccountsUse of Chain-Weighted Methodology3Historical Data Source1Latest Actual Annual Data
JapanJapanese yenGAD20172011SNA 2008From 1980GAD2017
JordanJordanian dinarNSO20171994SNA 1993NSO2017
KazakhstanKazakhstani tengeNSO20172007SNA 1993From 1994CB2017
KenyaKenya shillingNSO20162009SNA 2008NSO2017
KiribatiAustralian dollarNSO20162006SNA 2008NSO2017
KoreaSouth Korean wonCB20172010SNA 2008From 1980NSO2017
KosovoEuroNSO20172016ESA 2010NSO2017
KuwaitKuwaiti dinarMEP and NSO20172010SNA 1993NSO and MEP2017
Kyrgyz RepublicKyrgyz somNSO20162005SNA 1993NSO2016
Lao P.D.R.Lao kipNSO20162012SNA 1993NSO2016
LatviaEuroNSO20172010ESA 2010From 1995NSO2017
LebanonLebanese poundNSO20162010SNA 2008From 2010NSO2016/17
LesothoLesotho lotiNSO2015/162012/13SNA 2008NSO2017
LiberiaUS dollarCB20171992SNA 1993CB2017
LibyaLibyan dinarMEP20162003SNA 1993NSO2017
LithuaniaEuroNSO20172010ESA 2010From 2005NSO2017
LuxembourgEuroNSO20172010ESA 2010From 1995NSO2017
Macao SARMacanese patacaNSO20172016SNA 2008From 2001NSO2017
FYR MacedoniaMacedonian denarNSO20172005ESA 2010NSO2017
MadagascarMalagasy ariaryNSO20162000SNA 1968NSO2017
MalawiMalawian kwachaNSO20112010SNA 2008NSO2017
MalaysiaMalaysian ringgitNSO20172010SNA 2008NSO2017
MaldivesMaldivian rufiyaaMoF and NSO20172014SNA 1993CB2017
MaliCFA francNSO20161999SNA 1993NSO2017
MaltaEuroNSO20172010ESA 2010From 2000NSO2017
Marshall IslandsUS dollarNSO2016/172003/04SNA 1993NSO2016/17
MauritaniaMauritanian ouguiyaNSO20142004SNA 1993NSO2017
MauritiusMauritian rupeeNSO20172006SNA 1993From 1999NSO2017
MexicoMexican pesoNSO20172013SNA 2008NSO2017
MicronesiaUS dollarNSO2014/152004SNA 1993NSO2014/15
MoldovaMoldovan leuNSO20171995SNA 1993NSO2017
MongoliaMongolian tögrögNSO20162010SNA 1993NSO2016/17
MontenegroEuroNSO20162006ESA 2010NSO2016
MoroccoMoroccan dirhamNSO20162007SNA 1993From 1998NSO2017
MozambiqueMozambican meticalNSO20172009SNA 1993/2008NSO2017
MyanmarMyanmar kyatMEP2016/172010/11NSO2017/18
NamibiaNamibia dollarNSO20172000SNA 1993NSO2017
NauruAustralian dollar2015/162006/07SNA 1993NSO2016/17
NepalNepalese rupeeNSO2017/182000/01SNA 1993CB2017/18
NetherlandsEuroNSO20172015ESA 2010From 1980NSO2017
New ZealandNew Zealand dollarNSO20172009/10SNA 2008From 1987NSO2017
NicaraguaNicaraguan córdobaCB20172006SNA 1993From 1994CB2017
NigerCFA francNSO20162000SNA 1993NSO2017
NigeriaNigerian nairaNSO20172010SNA 2008NSO2017
NorwayNorwegian kroneNSO20172015ESA 2010From 1980NSO2017
Note: BPM = Balance of Payments Manual; CPI = consumer price Index; ESA = European System of National Accounts; SNA = System of National Accounts.

CB = central bank; Customs = Customs Authority; GAD = General Administration Department; IEO = International economic organization; MEP = Ministry of Economy, Planning, Commerce, and/or Development; MoF = Ministry of Finance and/or Treasury; NSO = National Statistics Office; PFTAC = Pacific Financial Technical Assistance Centre.

National accounts base year is the period with which other periods are compared and the period for which prices appear in the denominators of the price relationships used to calculate the index.

Use of chain-weighted methodology allows countries to measure GDP growth more accurately by reducing or eliminating the downward biases in volume series built on index numbers that average volume components using weights from a year in the moderately distant past.

BCG = budgetary central government; CG = central government; EUA = extrabudgetary units/accounts; LG = local government; MPC = monetary public corporation, including central bank; NFPC = nonfinancial public corporation; NMPC = nonmonetary financial public corporation; SG = state government; SS = social security fund; TG = territorial governments.

Accounting standard: A = accrual accounting; C = cash accounting; CB = commitments basis accounting; Mixed = combination of accrual and cash accounting.

Base year is not equal to 100 because the nominal GDP is not measured in the same way as real GDP or the data are seasonally adjusted.

Government FinanceBalance of Payments
CountryHistorical Data Source1Latest Actual Annual DataStatistics Manual in Use at SourceSubsectors Coverage4Accounting Practice5Historical Data Source1Latest Actual Annual DataStatistics Manual in Use at Source
JapanGAD20162014CG,LG,SSAMoF2017BPM 6
JordanMoF20172001CG,NFPCCCB2017BPM 5
KazakhstanNSO20172001CG,LGACB2017BPM 6
KenyaMoF20172001CGACB2017BPM 6
KiribatiMoF20161986CG,LGCNSO2016BPM 6
KoreaMoF20172001CG,SSCCB2017BPM 6
KosovoMoF2017CG,LGCCB2017BPM 6
KuwaitMoF20161986CGMixedCB2017BPM 6
Kyrgyz RepublicMoF2017CG,LG,SSCCB2017BPM 5
Lao P.D.R.MoF20162001CGCCB2016BPM 5
LatviaMoF20171986CG,LG,SSCCB2017BPM 6
LebanonMoF20172001CGMixedCB and IMF staff2015BPM 5
LesothoMoF2016/172001CG,LGCCB2016/17BPM 5
LiberiaMoF20172001CGACB2017BPM 5
LibyaMoF20171986CG,SG,LGCCB2017BPM 5
LithuaniaMoF20172014CG,LG,SSACB2017BPM 6
LuxembourgMoF20172001CG,LG,SSANSO2017BPM 6
Macao SARMoF20162014CG,SSCNSO2016BPM 6
FYR MacedoniaMoF20171986CG,SG,SSCCB2017BPM 6
MadagascarMoF20171986CG,LGCCB2017BPM 5
MalawiMoF2017/181986CGCNSO and GAD2017BPM 6
MalaysiaMoF20162001CG,SG,LGCNSO2017BPM 6
MaldivesMoF20171986CGCCB2017BPM 5
MaliMoF20162001CGMixedCB2016BPM 6
MaltaNSO20172001CG,SSANSO2017BPM 6
Marshall IslandsMoF2016/172001CG,LG,SSANSO2016/17BPM 6
MauritaniaMoF20171986CGCCB2016BPM 5
MauritiusMoF2017/182001CG,LG,NFPCCCB2017BPM 6
MexicoMoF20172014CG,SS,NMPC,NFPCCCB2016BPM 6
MicronesiaMoF2014/152001CG,SG,LG,SSNSO2014/15BPM 5
MoldovaMoF20161986CG,LG,SSCCB2016BPM 5
MongoliaMoF20162001CG,SG,LG,SSCCB2016BPM 6
MontenegroMoF20161986CG,LG,SSCCB2016BPM 6
MoroccoMEP20172001CGAGAD2017BPM 6
MozambiqueMoF20172001CG,SGMixedCB2017BPM 6
MyanmarMoF2016/17CG,NFPCCIMF staff2016/17BPM 5
NamibiaMoF20172001CGCCB2017BPM 6
NauruMoF2016/172001CGMixedIMF staff2014/15BPM 6
NepalMoF2017/182001CGCCB2017/18BPM 6
NetherlandsMoF20172001CG,LG,SSACB2017BPM 6
New ZealandMoF2016/172001CGANSO2017BPM 6
NicaraguaMoF20171986CG,LG,SSCIMF staff2017BPM 6
NigerMoF20171986CGACB2017BPM 6
NigeriaMoF20172001CG,SG,LGCCB2017BPM 6
NorwayNSO and MoF20162014CG,LG,SSANSO2017BPM 6
Note: BPM = Balance of Payments Manual; CPI = consumer price Index; ESA = European System of National Accounts; SNA = System of National Accounts.

CB = central bank; Customs = Customs Authority; GAD = General Administration Department; IEO = International economic organization; MEP = Ministry of Economy, Planning, Commerce, and/or Development; MoF = Ministry of Finance and/or Treasury; NSO = National Statistics Office; PFTAC = Pacific Financial Technical Assistance Centre.

National accounts base year is the period with which other periods are compared and the period for which prices appear in the denominators of the price relationships used to calculate the index.

Use of chain-weighted methodology allows countries to measure GDP growth more accurately by reducing or eliminating the downward biases in volume series built on index numbers that average volume components using weights from a year in the moderately distant past.

BCG = budgetary central government; CG = central government; EUA = extrabudgetary units/accounts; LG = local government; MPC = monetary public corporation, including central bank; NFPC = nonfinancial public corporation; NMPC = nonmonetary financial public corporation; SG = state government; SS = social security fund; TG = territorial governments.

Accounting standard: A = accrual accounting; C = cash accounting; CB = commitments basis accounting; Mixed = combination of accrual and cash accounting.

Base year is not equal to 100 because the nominal GDP is not measured in the same way as real GDP or the data are seasonally adjusted.

National AccountsPrices (CPI)
CountryCurrencyHistorical Data Source1Latest Actual Annual DataBase Year2System of National AccountsUse of Chain-Weighted Methodology3Historical Data Source1Latest Actual Annual Data
OmanOmani rialNSO20172010SNA 1993NSO2017
PakistanPakistan rupeeNSO2016/172005/066NSO2016/17
PalauUS dollarMoF2016/172014/15SNA 1993MoF2016/17
PanamaUS dollarNSO20172007SNA 1993From 2007NSO2017
Papua New GuineaPapua New Guinea kinaNSO and MoF20152013SNA 1993NSO2015
ParaguayParaguayan guaraníCB20172014SNA 2008CB2017
PeruPeruvian nuevo solCB20172007SNA 1993CB2017
PhilippinesPhilippine pesoNSO20172000SNA 2008NSO2017
PolandPolish zlotyNSO20172010ESA 2010From 1995NSO2017
PortugalEuroNSO20172011ESA 2010From 1980NSO2017
Puerto RicoUS dollarNSO2016/171954SNA1968NSO2016/17
QatarQatari riyalNSO and MEP20162013SNA 1993NSO and MEP2017
RomaniaRomanian leuNSO20172010ESA 2010From 2000NSO2017
RussiaRussian rubleNSO20172016SNA 2008From 1995NSO2017
RwandaRwandan francNSO20172014SNA 2008NSO2017
SamoaSamoa talaNSO2016/172009/10SNA 1993NSO2016/17
San MarinoEuroNSO20162007NSO2017
São Tomé and PríncipeSão Tomé and Príncipe dobraNSO20162008SNA 1993NSO2017
Saudi ArabiaSaudi riyalNSO and MEP20172010SNA 1993NSO and MEP2017
SenegalCFA francNSO20172014SNA 1993NSO2017
SerbiaSerbian dinarNSO20162010ESA 2010From 2010NSO2016
SeychellesSeychellois rupeeNSO20162006SNA 1993NSO2016
Sierra LeoneSierra Leonean leoneNSO20172006SNA 1993From 2010NSO2017
SingaporeSingapore dollarNSO20172010SNA 2008NSO2017
Slovak RepublicEuroNSO20172010ESA 2010From 1997NSO2017
SloveniaEuroNSO20172010ESA 2010From 2000NSO2017
Solomon IslandsSolomon Islands dollarCB20162004SNA 1993NSO2017
SomaliaUS dollarCB20162012SNA 1993CB2014
South AfricaSouth African randNSO20172010SNA 2008NSO2017
South SudanSouth Sudanese poundNSO20172010SNA 1993NSO2017
SpainEuroNSO20172010ESA 2010From 1995NSO2017
Sri LankaSri Lankan rupeeNSO20172010SNA 1993NSO2017
St. Kitts and NevisEastern Caribbean dollarNSO201720066SNA 1993NSO2017
St. LuciaEastern Caribbean dollarNSO20172006SNA 1993NSO2017
St. Vincent and the GrenadinesEastern Caribbean dollarNSO201720066SNA 1993NSO2017
SudanSudanese poundNSO20141982SNA 1968NSO2017
SurinameSurinamese dollarNSO20162007SNA 1993NSO2017
Note: BPM = Balance of Payments Manual; CPI = consumer price Index; ESA = European System of National Accounts; SNA = System of National Accounts.

CB = central bank; Customs = Customs Authority; GAD = General Administration Department; IEO = International economic organization; MEP = Ministry of Economy, Planning, Commerce, and/or Development; MoF = Ministry of Finance and/or Treasury; NSO = National Statistics Office; PFTAC = Pacific Financial Technical Assistance Centre.

National accounts base year is the period with which other periods are compared and the period for which prices appear in the denominators of the price relationships used to calculate the index.

Use of chain-weighted methodology allows countries to measure GDP growth more accurately by reducing or eliminating the downward biases in volume series built on index numbers that average volume components using weights from a year in the moderately distant past.

BCG = budgetary central government; CG = central government; EUA = extrabudgetary units/accounts; LG = local government; MPC = monetary public corporation, including central bank; NFPC = nonfinancial public corporation; NMPC = nonmonetary financial public corporation; SG = state government; SS = social security fund; TG = territorial governments.

Accounting standard: A = accrual accounting; C = cash accounting; CB = commitments basis accounting; Mixed = combination of accrual and cash accounting.

Base year is not equal to 100 because the nominal GDP is not measured in the same way as real GDP or the data are seasonally adjusted.

Government FinanceBalance of Payments
CountryHistorical Data Source1Latest Actual Annual DataStatistics Manual in Use at SourceSubsectors Coverage4Accounting Practice5Historical Data Source1Latest Actual Annual DataStatistics Manual in Use at Source
OmanMoF20172001CGCCB2017BPM 5
PakistanMoF2016/171986CG,SG,LGCCB2016/17BPM 6
PalauMoF2016/172001CGMoF2016/17BPM 6
PanamaMoF20171986CG,SG,LG,SS, NFPCCNSO2017BPM 6
Papua New GuineaMoF20151986CGCCB2015BPM 5
ParaguayMoF20172001CG,SG,LG,SS,MPC, NFPCCCB2017BPM 6
PeruMoF20171986CG,SG,LG,SSCCB2017BPM 5
PhilippinesMoF20172001CG,LG,SSCCB2017BPM 6
PolandMoF and NSO2016ESA 2010CG,LG,SSACB2016BPM 6
PortugalNSO20172001CG,LG,SSACB2017BPM 6
Puerto RicoMEP2015/162001A
QatarMoF20171986CGCCB and IMF staff2017BPM 5
RomaniaMoF20172001CG,LG,SSCCB2017BPM 6
RussiaMoF20172001CG,SG,SSMixedCB2017BPM 6
RwandaMoF20161986CG,LGMixedCB2017BPM 6
SamoaMoF2016/172001CGACB2016/17BPM 6
San MarinoMoF2016CG
São Tomé and PríncipeMoF and Customs20162001CGCCB2016BPM 6
Saudi ArabiaMoF20172014CGCCB2017BPM 6
SenegalMoF20172001CGCCB and IMF staff2017BPM 6
SerbiaMoF20161986/2001CG,SG,LG,SSCCB2016BPM 6
SeychellesMoF20171986CG,SSCCB2016BPM 6
Sierra LeoneMoF20171986CGCCB2017BPM 5
SingaporeMoF2016/172001CGCNSO2017BPM 6
Slovak RepublicNSO20172001CG,LG,SSACB2017BPM 6
SloveniaMoF20171986CG,SG,LG,SSCNSO2017BPM 6
Solomon IslandsMoF20161986CGCCB2016BPM 6
SomaliaMoF20162001CGCCB2016BPM 5
South AfricaMoF20172001CG,SG,SSCCB2017BPM 6
South SudanMoF and MEP2017CGCMoF, NSO, and MEP2017BPM 6
SpainMoF and NSO2017ESA 2010CG,SG,LG,SSACB2017BPM 6
Sri LankaMoF20172001CGCCB2017BPM 5
St. Kitts and NevisMoF20171986CG, SGCCB2016BPM 6
St. LuciaMoF2017/181986CGCCB2016BPM 6
St. Vincent and the GrenadinesMoF20161986CGCCB2016BPM 6
SudanMoF20172001CGMixedCB2017BPM 6
SurinameMoF20171986CGMixedCB2017BPM 5
Note: BPM = Balance of Payments Manual; CPI = consumer price Index; ESA = European System of National Accounts; SNA = System of National Accounts.

CB = central bank; Customs = Customs Authority; GAD = General Administration Department; IEO = International economic organization; MEP = Ministry of Economy, Planning, Commerce, and/or Development; MoF = Ministry of Finance and/or Treasury; NSO = National Statistics Office; PFTAC = Pacific Financial Technical Assistance Centre.

National accounts base year is the period with which other periods are compared and the period for which prices appear in the denominators of the price relationships used to calculate the index.

Use of chain-weighted methodology allows countries to measure GDP growth more accurately by reducing or eliminating the downward biases in volume series built on index numbers that average volume components using weights from a year in the moderately distant past.

BCG = budgetary central government; CG = central government; EUA = extrabudgetary units/accounts; LG = local government; MPC = monetary public corporation, including central bank; NFPC = nonfinancial public corporation; NMPC = nonmonetary financial public corporation; SG = state government; SS = social security fund; TG = territorial governments.

Accounting standard: A = accrual accounting; C = cash accounting; CB = commitments basis accounting; Mixed = combination of accrual and cash accounting.

Base year is not equal to 100 because the nominal GDP is not measured in the same way as real GDP or the data are seasonally adjusted.

National AccountsPrices (CPI)
CountryCurrencyHistorical Data Source1Latest Actual Annual DataBase Year2System of National AccountsUse of Chain-Weighted Methodology3Historical Data Source1Latest Actual Annual Data
SwedenSwedish kronaNSO20172017ESA 2010From 1993NSO2017
SwitzerlandSwiss francNSO20172010ESA 2010From 1980NSO2017
SyriaSyrian poundNSO20102000SNA 1993NSO2011
Taiwan Province of ChinaNew Taiwan dollarNSO20172011SNA 2008NSO2017
TajikistanTajik somoniNSO20171995SNA 1993NSO2017
TanzaniaTanzania shillingNSO20162007SNA 2008NSO2017
ThailandThai bahtMEP20172002SNA 1993From 1993MEP2017
Timor-LesteUS dollarMoF201620156SNA 2008NSO2017
TogoCFA francNSO20152007SNA 1993NSO2017
TongaTongan pa’angaCB20172010SNA 1993CB2017
Trinidad and TobagoTrinidad and Tobago dollarNSO20172012SNA 1993NSO2017
TunisiaTunisian dinarNSO20172010SNA 1993From 2009NSO2016
TurkeyTurkish liraNSO20172009ESA 2010From 2009NSO2017
TurkmenistanNew Turkmen manatNSO20172008SNA 1993From 2000NSO2017
TuvaluAustralian dollarPFTAC advisors20152005SNA 1993NSO2017
UgandaUgandan shillingNSO20162010SNA 1993CB2016/17
UkraineUkrainian hryvniaNSO20172010SNA 2008From 2005NSO2017
United Arab EmiratesU.A.E. dirhamNSO20172010SNA 2008NSO2017
United KingdomPound sterlingNSO20172016ESA 2010From 1980NSO2017
United StatesUS dollarNSO20172012SNA 2008From 1980NSO2017
UruguayUruguayan pesoCB20172005SNA 1993NSO2017
UzbekistanUzbek sumNSO20171995SNA 1993NSO2017
VanuatuVanuatu vatuNSO20162006SNA 1993NSO2017
VenezuelaVenezuelan bolívar fuerteCB20161997SNA 2008CB2016
VietnamVietnamese dongNSO20172010SNA 1993NSO2017
YemenYemeni rialIMF staff20081990SNA 1993NSO,CB, and IMF staff2009
ZambiaZambian kwachaNSO20172010SNA 2008NSO2017
ZimbabweUS dollarNSO20152009NSO2016
Note: BPM = Balance of Payments Manual; CPI = consumer price Index; ESA = European System of National Accounts; SNA = System of National Accounts.

CB = central bank; Customs = Customs Authority; GAD = General Administration Department; IEO = International economic organization; MEP = Ministry of Economy, Planning, Commerce, and/or Development; MoF = Ministry of Finance and/or Treasury; NSO = National Statistics Office; PFTAC = Pacific Financial Technical Assistance Centre.

National accounts base year is the period with which other periods are compared and the period for which prices appear in the denominators of the price relationships used to calculate the index.

Use of chain-weighted methodology allows countries to measure GDP growth more accurately by reducing or eliminating the downward biases in volume series built on index numbers that average volume components using weights from a year in the moderately distant past.

BCG = budgetary central government; CG = central government; EUA = extrabudgetary units/accounts; LG = local government; MPC = monetary public corporation, including central bank; NFPC = nonfinancial public corporation; NMPC = nonmonetary financial public corporation; SG = state government; SS = social security fund; TG = territorial governments.

Accounting standard: A = accrual accounting; C = cash accounting; CB = commitments basis accounting; Mixed = combination of accrual and cash accounting.

Base year is not equal to 100 because the nominal GDP is not measured in the same way as real GDP or the data are seasonally adjusted.

Government FinanceBalance of Payments
CountryHistorical Data Source1Latest Actual Annual DataStatistics Manual in Use at SourceSubsectors Coverage4Accounting Practice5Historical Data Source1Latest Actual Annual DataStatistics Manual in Use at Source
SwedenMoF20162001CG,LG,SSANSO2017BPM 6
SwitzerlandMoF20162001CG,SG,LG,SSACB2017BPM 6
SyriaMoF20091986CGCCB2009BPM 5
Taiwan Province of ChinaMoF20172001CG,LG,SSCCB2017BPM 6
TajikistanMoF20171986CG,LG,SSCCB2016BPM 6
TanzaniaMoF20161986CG,LGCCB2016BPM 5
ThailandMoF2016/172001CG,BCG,LG,SSACB2017BPM 6
Timor-LesteMoF20172001CGCCB2017BPM 6
TogoMoF20172001CGCCB2016BPM 6
TongaMoF20172014CGCCB and NSO2017BPM 6
Trinidad and TobagoMoF2016/171986CGCCB and NSO2017BPM 6
TunisiaMoF20161986CGCCB2016BPM 5
TurkeyMoF20172001CG,LG,SSACB2017BPM 6
TurkmenistanMoF20171986CG,LGCNSO and IMF staff2015BPM 6
TuvaluMoF2017CGMixedIMF staff2012BPM 6
UgandaMoF20162001CGCCB2016BPM 6
UkraineMoF20162001CG,SG,LG,SSCCB2016BPM 6
United Arab EmiratesMoF20172001CG,BCG,SG,SSCCB2017BPM 5
United KingdomNSO20172001CG,LGANSO2017BPM 6
United StatesMEP20172014CG,SG,LGANSO2016BPM 6
UruguayMoF20171986CG,LG,SS,MPC, NFPCCCB2017BPM 6
UzbekistanMoF2016CG,SG,LG,SSCMEP2017BPM 6
VanuatuMoF20172001CGCCB2017BPM 6
VenezuelaMoF20132001BCG,NFPCCCB2016BPM 5
VietnamMoF20152001CG,SG,LGCCB2017BPM 5
YemenMoF20132001CG,LGCIMF staff2009BPM 5
ZambiaMoF20171986CGCCB2017BPM 6
ZimbabweMoF20151986CGCCB and MoF2016BPM 6
Note: BPM = Balance of Payments Manual; CPI = consumer price Index; ESA = European System of National Accounts; SNA = System of National Accounts.

CB = central bank; Customs = Customs Authority; GAD = General Administration Department; IEO = International economic organization; MEP = Ministry of Economy, Planning, Commerce, and/or Development; MoF = Ministry of Finance and/or Treasury; NSO = National Statistics Office; PFTAC = Pacific Financial Technical Assistance Centre.

National accounts base year is the period with which other periods are compared and the period for which prices appear in the denominators of the price relationships used to calculate the index.

Use of chain-weighted methodology allows countries to measure GDP growth more accurately by reducing or eliminating the downward biases in volume series built on index numbers that average volume components using weights from a year in the moderately distant past.

BCG = budgetary central government; CG = central government; EUA = extrabudgetary units/accounts; LG = local government; MPC = monetary public corporation, including central bank; NFPC = nonfinancial public corporation; NMPC = nonmonetary financial public corporation; SG = state government; SS = social security fund; TG = territorial governments.

Accounting standard: A = accrual accounting; C = cash accounting; CB = commitments basis accounting; Mixed = combination of accrual and cash accounting.

Base year is not equal to 100 because the nominal GDP is not measured in the same way as real GDP or the data are seasonally adjusted.

Note: BPM = Balance of Payments Manual; CPI = consumer price Index; ESA = European System of National Accounts; SNA = System of National Accounts.

CB = central bank; Customs = Customs Authority; GAD = General Administration Department; IEO = International economic organization; MEP = Ministry of Economy, Planning, Commerce, and/or Development; MoF = Ministry of Finance and/or Treasury; NSO = National Statistics Office; PFTAC = Pacific Financial Technical Assistance Centre.

National accounts base year is the period with which other periods are compared and the period for which prices appear in the denominators of the price relationships used to calculate the index.

Use of chain-weighted methodology allows countries to measure GDP growth more accurately by reducing or eliminating the downward biases in volume series built on index numbers that average volume components using weights from a year in the moderately distant past.

BCG = budgetary central government; CG = central government; EUA = extrabudgetary units/accounts; LG = local government; MPC = monetary public corporation, including central bank; NFPC = nonfinancial public corporation; NMPC = nonmonetary financial public corporation; SG = state government; SS = social security fund; TG = territorial governments.

Accounting standard: A = accrual accounting; C = cash accounting; CB = commitments basis accounting; Mixed = combination of accrual and cash accounting.

Base year is not equal to 100 because the nominal GDP is not measured in the same way as real GDP or the data are seasonally adjusted.

Box A1.Economic Policy Assumptions Underlying the Projections for Selected Economies

Fiscal Policy Assumptions

The short-term fiscal policy assumptions used in the World Economic Outlook (WEO) are normally based on officially announced budgets, adjusted for differences between the national authorities and the IMF staff regarding macroeconomic assumptions and projected fiscal outturns. When no official budget has been announced, projections incorporate policy measures that are judged likely to be implemented. The medium-term fiscal projections are similarly based on a judgment about the most likely path of policies. For cases in which the IMF staff has insufficient information to assess the authorities’ budget intentions and prospects for policy implementation, an unchanged structural primary balance is assumed unless indicated otherwise. Specific assumptions used in regard to some of the advanced economies follow. (See also Tables B5 to B9 in the online section of the Statistical Appendix for data on fiscal net lending/borrowing and structural balances.)1

Argentina: Fiscal projections are based on the available information regarding budget outturn and budget plans for the federal and provincial governments, fiscal measures announced by the authorities, and the IMF staff’s macroeconomic projections.

Australia: Fiscal projections are based on Australian Bureau of Statistics data, the fiscal year 2018/19 budgets of the commonwealth and states and territories, 2017/18 mid-year fiscal and economic reviews by states and territories, and the IMF staff’s estimates.

Austria: Fiscal projections are based on data from Statistics Austria, the authorities’ projections, and the IMF staff’s estimates and projections.

Belgium: Projections are based on the 2018–21 Stability Programme and other available information on the authorities’ fiscal plans, with adjustments for the IMF staff’s assumptions.

Brazil: Fiscal projections for the end of 2018 account for budget performance through May 2018, and the deficit target approved in the budget law.

Canada: Projections use the baseline forecasts in the 2018 federal budget and the latest provincial budget updates as available. The IMF staff makes some adjustments to these forecasts, including for differences in macroeconomic projections. The IMF staff’s forecast also incorporates the most recent data releases from Statistics Canada’s Canadian System of National Economic Accounts, including federal, provincial, and territorial budgetary outturns through the first quarter of 2018.

Chile: Projections are based on the authorities’ budget projections, adjusted to reflect the IMF staff’s projections for GDP and copper prices.

China: Projections assume that the pace of fiscal consolidation is likely to be more gradual, reflecting reforms to strengthen social safety nets and the social security system announced as part of the Third Plenum reform agenda.

Denmark: Estimates for 2017 are aligned with the latest official budget numbers, adjusted where appropriate for the IMF staff’s macroeconomic assumptions. For 2018, the projections incorporate key features of the medium-term fiscal plan as embodied in the authorities’ Convergence Programme 2017 submitted to the European Union.

France: Projections for 2018 reflect the 2018 budget law. For 2018–23, they are based on the measures in the multiyear budget and the 2018 budget laws and additional measures expected in the 2019 budget law adjusted for differences in assumptions on macro and financial variables, and revenue projections. Historical fiscal data reflect the May 2018 revisions and update of the historical fiscal accounts, debt data, and national accounts.

Germany: The IMF staff’s projections for 2018 and beyond are based on the 2018 Stability Programme, revised 2018 federal budget, and data updates from the national statistical agency, adjusted for the differences in the IMF staff’s macroeconomic framework and assumptions concerning revenue elasticities. The estimate of gross debt includes portfolios of impaired assets and noncore business transferred to institutions that are winding up, as well as other financial sector and EU support operations.

Greece: Fiscal projections reflect adjustments in line with the primary balance definition under the enhanced surveillance procedure for Greece.

Hong Kong Special Administrative Region: Projections are based on the authorities’ medium-term fiscal projections on expenditures.

Hungary: Fiscal projections include the IMF staff’s projections of the macroeconomic framework and of the impact of recent legislative measures, as well as fiscal policy plans announced in the 2018 budget.

India: Historical data are based on budgetary execution data. Projections are based on available information on the authorities’ fiscal plans, with adjustments for the IMF staff’s assumptions. Subnational data are incorporated with a lag of up to one year; general government data are thus finalized well after central government data. IMF and Indian presentations differ, particularly regarding divestment and license auction proceeds, net versus gross recording of revenues in certain minor categories, and some public sector lending.

Indonesia: IMF projections are based on moderate tax policy and administration reforms, fuel subsidy pricing reforms introduced since January 2015, and a gradual increase in social and capital spending over the medium term in line with fiscal space.

Ireland: Fiscal projections are based on the country’s Budget 2018.

Israel: Historical data are based on Government Finance Statistics data prepared by the Central Bureau of Statistics. The central government deficit is assumed to remain at the current ceiling of 2.9 percent of GDP throughout the projection period, rather than declining in line with medium-term fiscal targets, consistent with long experience of revisions to those targets.

Italy: The IMF staff’s estimates and projections are informed by the fiscal plans included in the government’s 2018 budget and April 2018 Economic and Financial Document. IMF staff assumes that the automatic value-added tax hikes for next year will be canceled.

Japan: The projections include fiscal measures already announced by the government, including the consumption tax hike in October 2019.

Korea: The medium-term forecast incorporates the medium-term path for public spending announced by the government.

Mexico: Fiscal projections for 2018 are broadly in line with the approved budget; projections for 2019 onward assume compliance with rules established in the Fiscal Responsibility Law.

Netherlands: Fiscal projections for 2017–23 are based on the authorities’ Bureau for Economic Policy Analysis budget projections, after differences in macroeconomic assumptions are adjusted for. Historical data were revised following the June 2014 Central Bureau of Statistics release of revised macro data because of the adoption of ESA 2010 and the revisions of data sources.

New Zealand: Fiscal projections are based on the fiscal year 2018/19 budget and 2017 Half-Year Economic and Fiscal Update, and the IMF staff’s estimates.

Portugal: The projections for the current year are based on the authorities’ approved budget, adjusted to reflect the IMF staff’s macroeconomic forecast. Projections thereafter are based on the assumption of unchanged policies.

Puerto Rico: Fiscal projections are based on the Puerto Rico Fiscal and Economic Growth Plans (FEGPs), which were prepared in April and updated in August of 2018, and is pending certification by the Oversight Board. In line with assumptions of this plan, IMF projections assume federal aid for rebuilding after Hurricane Maria devastated the island in September 2017. The projections also assume revenue losses from the following: elimination of federal funding for the Affordable Care Act starting in 2018 for Puerto Rico; elimination of federal tax incentives starting in 2018 that had neutralized the effects of Puerto Rico’s Act 154 on foreign firms; and the effects of the Tax Cuts and Job Act, which reduce tax advantages of US firms producing in Puerto Rico. Given sizable policy uncertainty, some FEGP and IMF assumptions may differ, in particular those relating to the effects of the corporate tax reform, tax compliance, and tax adjustments (fees and rates); reduction of subsidies and expenses, freezing of payroll operational costs, and improvement of mobility; and increasing health care efficiency. On the expenditure side, measures include extension of Act 66, which freezes much government spending, through 2020; reduction of operating costs; decreases in government subsidies; and spending cuts in education. Although IMF policy assumptions are similar to those in the FEGP scenario with full measures, the IMF’s projections of fiscal revenues, expenditures, and balance are different from FEGP’s. This stems from two main differences in methodologies: first, while IMF projections are on an accrual basis, FEGP’s are on a cash basis. Second, the IMF and FEGP make very different macroeconomic assumptions. Third, the IMF’s projections are on a calendar year basis while FEGP’s are on a fiscal year basis.

Russia: Projections for 2018–21 are the IMF staff’s estimates, based on the authorities’ budget. Projections for 2022–23 are based on the new oil price rule, with adjustments by the IMF staff.

Saudi Arabia: Staff baseline projections of total government revenues reflect the impact of announced policies in the 2018 Budget. Oil revenues are based on WEO baseline oil prices and the assumption that Saudi Arabia continues to meet its commitments under the OPEC+ agreement. Expenditure projections take the 2018 budget as a starting point and reflect staff estimates of the effects of the latest changes in policies and economic developments. Expenditures in 2018 include allowances and other measures announced in the Royal Decree for one year in January 2018.

Singapore: For fiscal year 2018/19, projections are based on budget numbers. For the rest of the projection period, the IMF staff assumes unchanged policies.

South Africa: Fiscal projections are based on the 2018 Budget. Nontax revenue excludes transactions in financial assets and liabilities, as they involve primarily revenues associated with realized exchange rate valuation gains from the holding of foreign currency deposits, sale of assets, and conceptually similar items.

Spain: For 2018 and beyond, fiscal projections are based on the information specified in the government’s 2018 Stability Programme and on the IMF staff’s macroeconomic projections.

Sweden: Fiscal projections account for the authorities’ projections based on the 2018 Spring Budget. The impact of cyclical developments on the fiscal accounts is calculated using the Organisation for Economic Co-operation and Development’s 2005 elasticity to take into account output and employment gaps.

Switzerland: The projections assume that fiscal policy is adjusted as necessary to keep fiscal balances in line with the requirements of Switzerland’s fiscal rules.

Turkey: The fiscal projections for 2018 are based on the authorities’ Medium Term Programme 2018–20, with adjustments for additionally announced fiscal measures and the IMF staff’s higher inflation forecast. For the medium term, the fiscal projections assume a more gradual fiscal consolidation than envisaged in the Medium Term Programme.

United Kingdom: Fiscal projections are based on the country’s November 2017 Budget and the March 2018 update, with expenditure projections based on the budgeted nominal values and with revenue projections adjusted for differences between the IMF staff’s forecasts of macroeconomic variables (such as GDP growth and inflation) and the forecasts of these variables assumed in the authorities’ fiscal projections. The IMF staff’s data exclude public sector banks and the effect of transferring assets from the Royal Mail Pension Plan to the public sector in April 2012. Real government consumption and investment are part of the real GDP path, which, according to the IMF staff, may or may not be the same as projected by the UK Office for Budget Responsibility.

United States: Fiscal projections are based on the August update to the April 2018 Congressional Budget Office baseline, adjusted for the IMF staff’s policy and macroeconomic assumptions. Projections incorporate the effects of tax reform (Tax Cuts and Jobs Act, signed into law end of 2017) as well as the Bipartisan Budget Act of 2018 passed in February 2018. Finally, fiscal projections are adjusted to reflect the IMF staff’s forecasts for key macroeconomic and financial variables and different accounting treatment of financial sector support and defined-benefit pension plans, and are converted to a general government basis. Data are compiled using SNA 2008, and when translated into government finance statistics, this is in accordance with the Government Finance Statistics Manual 2014. Because of data limitations, most series begin in 2001.

Monetary Policy Assumptions

Monetary policy assumptions are based on the established policy framework in each country. In most cases, this implies a nonaccommodative stance over the business cycle: official interest rates will increase when economic indicators suggest that inflation will rise above its acceptable rate or range; they will decrease when indicators suggest inflation will not exceed the acceptable rate or range, that output growth is below its potential rate, and that the margin of slack in the economy is significant. On this basis, the London interbank offered rate on six-month US dollar deposits is assumed to average 2.5 percent in 2018 and 3.4 percent in 2019 (see Table 1.1). The rate on three-month euro deposits is assumed to average –0.3 percent in 2018 and –0.2 percent in 2019. The interest rate on six-month Japanese yen deposits is assumed to average 0.0 percent in 2018 and 0.1 percent in 2019.

Argentina: Monetary policy assumptions are consistent with gradual disinflation of the economy to a single digit.

Australia: Monetary policy assumptions are in line with market expectations.

Brazil: Monetary policy assumptions are consistent with gradual convergence of inflation toward the middle of the target range.

Canada: Monetary policy assumptions are in line with market expectations.

China: Monetary policy is expected to tighten with a gradual rise in the interest rate.

Denmark: The monetary policy is to maintain the peg to the euro.

Euro area: Monetary policy assumptions for euro area member countries are in line with market expectations.

Hong Kong Special Administrative Region: The IMF staff assumes that the currency board system remains intact.

India: The policy (interest) rate assumption is consistent with an inflation rate within the Reserve Bank of India’s targeted band. Consistent with IMF staff’s estimates of natural rate of inflation and an inflation-forecast targeting policy rule, an additional increase of policy rate (25–50 basis points) is needed.

Indonesia: Monetary policy assumptions are in line with the maintenance of inflation within the central bank’s targeted band.

Japan: Monetary policy assumptions are in line with market expectations.

Korea: Monetary policy assumptions are in line with market expectations.

Mexico: Monetary policy assumptions are consistent with attaining the inflation target.

Russia: Monetary projections assume that the Central Bank of Russia will complete the transition to a neutral stance at a slower pace given upside risks to the inflation outlook.

Saudi Arabia: Monetary policy projections are based on the continuation of the exchange rate peg to the US dollar.

Singapore: Broad money is projected to grow in line with the projected growth in nominal GDP.

South Africa: Monetary policy will remain neutral.

Sweden: Monetary projections are in line with Riks-bank projections.

Switzerland: The projections assume no change in the policy rate in 2018–19.

Turkey: The outlook for monetary and financial conditions assumes no changes to the current policy stance.

United Kingdom: The short-term interest rate path is based on market interest rate expectations.

United States: The IMF staff expects continued gradual normalization of the federal funds target rate over the medium term, in line with the broader macroeconomic outlook.

1 The output gap is actual minus potential output, as a percentage of potential output. Structural balances are expressed as a percentage of potential output. The structural balance is the actual net lending/borrowing minus the effects of cyclical output from potential output, corrected for one-time and other factors, such as asset and commodity prices and output composition effects. Changes in the structural balance consequently include effects of temporary fiscal measures, the impact of fluctuations in interest rates and debt-service costs, and other noncyclical fluctuations in net lending/borrowing. The computations of structural balances are based on the IMF staff’s estimates of potential GDP and revenue and expenditure elasticities. (See Annex I of the October 1993 WEO.) Net debt is calculated as gross debt minus financial assets corresponding to debt instruments. Estimates of the output gap and of the structural balance are subject to significant margins of uncertainty.

List of Tables

Balance of Payments and External Financing

Medium-Term Baseline Scenario

Table A1.Summary of World Output1(Annual percent change)
AverageProjections
2000–0920102011201220132014201520162017201820192023
World3.95.44.33.53.53.63.53.33.73.73.73.6
Advanced Economies1.83.11.71.21.42.12.31.72.32.42.11.5
United States1.92.61.62.21.82.52.91.62.22.92.51.4
Euro Area1.42.11.6–0.9–0.21.42.11.92.42.01.91.4
Japan0.54.2–0.11.52.00.41.41.01.71.10.90.5
Other Advanced Economies22.84.63.01.92.42.92.12.12.62.42.22.1
Emerging Market and Developing Economies6.17.46.45.35.14.74.34.44.74.74.74.8
Regional Groups
Commonwealth of Independent States35.94.65.33.72.51.1–1.90.42.12.32.42.1
Emerging and Developing Asia8.19.67.97.06.96.86.86.56.56.56.36.1
Emerging and Developing Europe4.04.36.62.54.93.94.73.36.03.82.02.7
Latin America and the Caribbean3.06.14.62.92.91.30.3–0.61.31.22.22.9
Middle East, North Africa, Afghanistan,
and Pakistan5.24.64.44.82.62.92.55.12.22.42.73.0
Middle East and North Africa5.24.84.54.92.42.72.45.21.82.02.53.0
Sub-Saharan Africa5.67.15.14.65.25.13.31.42.73.13.84.1
Memorandum
European Union1.72.01.8–0.30.31.92.42.02.72.22.01.6
Low-Income Developing Countries6.37.45.14.66.16.14.73.64.74.75.25.4
Analytical Groups
By Source of Export Earnings
Fuel5.75.15.25.02.62.20.31.90.91.21.92.0
Nonfuel6.28.06.75.45.75.35.24.95.65.45.25.3
Of Which, Primary Products3.86.84.92.34.22.12.81.72.81.62.13.6
By External Financing Source
Net Debtor Economies4.96.95.44.24.84.64.23.84.74.84.85.2
Net Debtor Economies by
Debt-Servicing Experience
Economies with Arrears and/or
Rescheduling during 2013–174.74.22.71.53.21.91.02.83.23.94.45.0
Memorandum
Median Growth Rate
Advanced Economies2.42.31.91.01.52.52.02.22.92.82.51.9
Emerging Market and Developing Economies4.54.64.74.24.33.83.33.23.43.53.73.7
Low-Income Developing Countries5.06.46.15.15.34.83.94.24.54.04.85.0
Output per Capita4
Advanced Economies1.12.51.10.70.91.61.71.21.91.91.71.1
Emerging Market and Developing Economies4.45.94.93.63.63.22.82.93.23.33.33.6
Low-Income Developing Countries3.75.03.51.63.73.82.31.22.42.43.03.2
World Growth Rate Based on Market
Exchange Rates2.64.13.12.52.62.82.82.53.23.23.12.8
Value of World Output (billions of US dollars)
At Market Exchange Rates46,62666,01173,23074,61976,75078,83274,60275,65380,05184,83588,081108,712
At Purchasing Power Parities66,72289,40295,01899,891105,088110,805115,729120,693127,489135,236143,089177,424

Real GDP.

Excludes the United States, euro area countries, and Japan.

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

Output per capita is in international currency at purchasing power parity.

Real GDP.

Excludes the United States, euro area countries, and Japan.

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

Output per capita is in international currency at purchasing power parity.

Table A2.Advanced Economies: Real GDP and Total Domestic Demand1(Annual percent change)
Fourth Quarter2
AverageProjectionsProjections
2000–09201020112012201320142015201620172018201920232017:Q42018:Q42019:Q4
Real GDP
Advanced Economies1.83.11.71.21.42.12.31.72.32.42.11.52.52.31.9
United States1.92.61.62.21.82.52.91.62.22.92.51.42.53.12.3
Euro Area1.42.11.6–0.9–0.21.42.11.92.42.01.91.42.71.71.9
Germany0.83.93.70.70.62.21.52.22.51.91.91.22.81.91.6
France1.41.92.20.30.61.01.01.12.31.61.61.62.81.31.7
Italy0.51.70.6–2.8–1.70.11.00.91.51.21.00.71.60.81.3
Spain2.70.0–1.0–2.9–1.71.43.63.23.02.72.21.73.02.52.1
Netherlands1.61.31.5–1.0–0.11.42.02.22.92.82.61.83.12.42.6
Belgium1.72.71.80.20.21.31.41.41.71.51.51.51.91.61.3
Austria1.71.82.90.70.00.81.11.53.02.82.21.43.51.82.6
Greece2.7–5.5–9.1–7.3–3.20.7–0.3–0.21.42.02.41.22.02.22.5
Portugal0.91.9–1.8–4.0–1.10.91.81.62.72.31.81.42.42.41.2
Ireland3.61.93.70.21.38.725.04.97.24.74.02.85.40.36.3
Finland2.03.02.6–1.4–0.8–0.60.12.52.82.61.81.22.62.71.4
Slovak Republic4.55.02.81.71.52.83.93.33.43.94.13.43.64.24.2
Lithuania4.61.66.03.83.53.52.02.33.93.52.92.03.83.13.0
Slovenia2.91.20.6–2.7–1.13.02.33.15.04.53.42.16.03.63.3
Luxembourg3.04.92.5–0.43.75.82.93.12.34.03.53.01.83.54.5
Latvia4.7–3.96.44.02.41.93.02.24.53.73.33.04.82.54.3
Estonia4.12.37.64.31.92.91.72.14.93.73.22.95.13.52.3
Cyprus3.51.30.3–3.1–5.9–1.42.03.43.94.04.22.44.04.23.9
Malta1.63.51.32.74.68.29.55.26.75.74.63.25.66.73.6
Japan0.54.2–0.11.52.00.41.41.01.71.10.90.52.01.0–0.3
United Kingdom1.81.71.61.42.02.92.31.81.71.41.51.61.31.51.4
Korea4.76.53.72.32.93.32.82.93.12.82.62.62.83.22.3
Canada2.13.13.11.72.52.91.01.43.02.12.01.63.02.11.9
Australia3.12.42.73.92.22.62.52.62.23.22.82.62.43.22.8
Taiwan Province of China3.810.63.82.12.24.00.81.42.92.72.41.93.41.92.1
Switzerland1.92.91.81.01.92.51.31.61.73.01.81.72.62.61.7
Sweden2.06.02.7–0.31.22.64.52.72.12.42.21.92.71.92.6
Singapore5.215.26.44.15.13.92.22.43.62.92.52.63.61.92.6
Hong Kong SAR4.26.84.81.73.12.82.42.23.83.82.93.13.33.43.3
Norway1.80.71.02.71.02.02.01.11.92.12.11.81.62.71.6
Czech Republic3.42.31.8–0.8–0.52.75.32.54.33.13.02.55.03.22.5
Israel3.55.55.22.24.23.52.64.03.33.63.53.03.13.43.5
Denmark1.01.91.30.20.91.61.62.02.32.01.91.71.33.22.2
New Zealand2.92.01.92.52.23.24.24.13.03.13.02.53.23.13.0
Puerto Rico1.0–0.4–0.40.0–0.3–1.2–1.0–1.3–2.4–2.3–1.1–0.8
Macao SAR25.321.79.211.2–1.2–21.6–0.99.16.36.34.2
Iceland3.5–3.41.91.34.12.14.57.44.03.72.92.51.92.94.7
San Marino–4.8–9.3–7.6–3.2–0.90.62.21.91.41.00.8
Memorandum
Major Advanced Economies1.42.81.61.41.51.92.11.52.12.22.01.22.32.21.7
Real Total Domestic Demand
Advanced Economies1.72.91.40.81.12.12.61.92.32.42.41.52.32.62.1
United States1.93.01.52.21.62.63.61.82.53.13.21.22.63.52.8
Euro Area1.31.50.7–2.4–0.61.32.42.31.72.01.91.51.32.41.6
Germany0.32.93.0–0.81.01.61.43.02.22.02.11.41.92.31.8
France1.72.12.1–0.40.71.51.51.62.21.31.61.62.11.81.3
Italy0.72.0–0.6–5.6–2.60.21.51.11.41.41.20.71.21.11.7
Spain2.9–0.5–3.1–5.1–3.22.04.02.62.92.82.01.53.32.71.7
Japan0.22.40.72.32.40.41.00.41.20.91.10.51.80.9–0.4
United Kingdom2.02.0–0.21.82.13.22.32.41.31.31.31.60.61.61.4
Canada2.85.13.42.02.11.70.10.93.82.41.31.54.91.41.2
Other Advanced Economies32.96.13.12.01.52.72.42.23.32.92.62.53.72.63.2
Memorandum
Major Advanced Economies1.42.81.41.21.42.02.41.72.12.32.31.22.32.51.9

In this and other tables, when countries are not listed alphabetically, they are ordered on the basis of economic size.

From the fourth quarter of the preceding year.

Excludes the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and euro area countries.

In this and other tables, when countries are not listed alphabetically, they are ordered on the basis of economic size.

From the fourth quarter of the preceding year.

Excludes the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and euro area countries.

Table A3.Advanced Economies: Components of Real GDP(Annual percent change)
AveragesProjections
2000–092010–192010201120122013201420152016201720182019
Private Consumer Expenditure
Advanced Economies2.11.81.81.10.91.21.82.52.22.22.12.0
United States2.42.41.71.91.51.52.93.72.72.52.82.4
Euro Area1.40.80.80.0–1.2–0.60.91.82.01.61.51.6
Germany0.71.30.31.41.40.81.11.61.92.01.61.6
France2.01.01.90.6–0.40.50.81.52.11.00.91.4
Italy0.60.21.20.0–4.0–2.40.21.91.41.41.01.2
Spain2.50.50.3–2.4–3.5–3.11.53.02.82.52.21.8
Japan0.80.82.4–0.42.02.4–0.90.00.11.00.60.8
United Kingdom2.21.50.7–0.71.51.82.02.63.11.81.11.2
Canada3.22.33.62.31.92.62.62.22.33.41.70.7
Other Advanced Economies13.12.73.83.02.22.32.42.72.52.72.82.6
Memorandum
Major Advanced Economies1.81.71.71.11.11.31.82.52.22.12.01.8
Public Consumption
Advanced Economies2.30.80.9–0.6–0.1–0.10.51.71.90.81.62.0
United States2.20.00.1–3.0–1.5–1.9–0.81.71.5–0.11.12.7
Euro Area2.00.80.8–0.1–0.30.30.71.31.91.11.21.2
Germany1.21.81.30.91.11.31.62.94.01.61.42.0
France1.71.21.31.11.61.51.31.01.41.31.00.3
Italy1.3–0.20.6–1.8–1.4–0.3–0.7–0.60.60.10.40.8
Spain5.10.11.5–0.3–4.7–2.1–0.32.11.01.91.51.0
Japan1.71.21.91.91.71.50.51.51.30.40.51.1
United Kingdom2.90.80.30.11.2–0.22.21.40.8–0.11.30.9
Canada2.61.42.31.30.7–0.70.51.62.22.32.41.5
Other Advanced Economies12.92.62.71.61.92.32.42.63.42.23.92.6
Memorandum
Major Advanced Economies2.00.60.7–1.1–0.2–0.50.11.61.60.41.11.9
Gross Fixed Capital Formation
Advanced Economies0.83.02.03.22.61.73.43.12.13.64.14.1
United States0.44.32.24.66.93.64.93.31.74.05.66.0
Euro Area0.91.5–0.41.5–3.4–2.31.64.83.92.54.13.5
Germany–0.43.05.07.4–0.1–1.23.91.13.33.63.33.5
France1.61.82.12.00.2–0.80.01.02.84.52.93.2
Italy0.8–0.8–0.5–1.9–9.3–6.6–2.32.13.23.83.61.1
Spain2.40.3–4.9–6.9–8.6–3.44.76.72.94.85.63.6
Japan–2.02.0–1.61.73.54.93.11.71.12.51.91.2
United Kingdom0.23.24.12.62.13.47.23.42.33.40.92.5
Canada3.12.511.44.64.91.32.4–5.2–2.92.83.72.6
Other Advanced Economies12.83.25.94.13.02.52.51.92.33.82.83.0
Memorandum
Major Advanced Economies0.23.22.33.73.72.23.82.21.83.74.14.2
Final Domestic Demand
Advanced Economies1.81.91.71.31.11.12.02.52.22.22.52.4
United States2.02.41.61.62.01.32.83.32.32.53.23.2
Euro Area1.41.00.50.3–1.5–0.81.02.32.41.72.02.0
Germany0.51.81.42.51.00.51.81.82.62.31.92.1
France1.81.21.81.00.20.50.81.32.11.81.41.5
Italy0.8–0.10.7–0.8–4.5–2.8–0.41.41.51.51.41.1
Spain2.90.4–0.7–3.0–4.8–3.01.83.52.62.82.82.0
Japan0.31.21.40.52.32.80.20.70.61.21.01.1
United Kingdom2.01.61.10.01.61.72.92.52.51.71.11.4
Canada3.02.25.02.62.41.62.10.31.13.02.31.3
Other Advanced Economies13.02.84.13.02.32.42.52.52.62.92.92.7
Memorandum
Major Advanced Economies1.51.81.61.31.41.21.92.32.02.12.32.3
Stock Building2
Advanced Economies–0.10.11.20.2–0.20.00.10.1–0.30.00.00.0
United States–0.20.11.4–0.10.20.2–0.10.3–0.50.0–0.10.0
Euro Area–0.10.10.90.5–0.90.20.30.00.00.00.00.0
Germany–0.20.11.40.5–1.70.5–0.2–0.30.3–0.10.10.0
France–0.10.20.31.1–0.60.20.80.2–0.50.40.00.0
Italy–0.10.11.30.2–1.10.20.60.1–0.4–0.10.00.0
Spain0.00.00.2–0.1–0.2–0.30.20.40.00.10.10.0
Japan0.00.11.00.20.0–0.40.10.3–0.2–0.10.10.0
United Kingdom–0.10.11.0–0.20.20.20.7–0.2–0.1–0.50.1–0.1
Canada0.00.10.10.7–0.30.5–0.4–0.2–0.20.80.10.0
Other Advanced Economies1–0.10.11.90.2–0.3–0.80.20.0–0.30.20.0–0.1
Memorandum
Major Advanced Economies–0.10.11.20.2–0.20.20.10.1–0.30.00.00.0
Foreign Balance2
Advanced Economies0.10.00.10.30.40.30.0–0.3–0.20.1–0.1–0.2
United States–0.1–0.3–0.50.00.00.2–0.3–0.8–0.3–0.3–0.3–0.8
Euro Area0.10.40.60.91.50.30.1–0.2–0.30.80.10.0
Germany0.50.41.10.91.4–0.30.70.2–0.60.30.0–0.1
France–0.3–0.1–0.20.10.7–0.1–0.5–0.4–0.50.10.20.0
Italy–0.20.3–0.31.22.80.8–0.1–0.5–0.30.1–0.2–0.1
Spain–0.20.60.52.12.21.5–0.5–0.30.80.1–0.10.2
Japan0.10.11.6–0.9–0.8–0.40.00.30.60.50.10.0
United Kingdom–0.1–0.1–0.71.5–0.4–0.5–0.4–0.3–0.70.60.10.1
Canada–0.8–0.1–2.1–0.3–0.40.31.10.90.7–0.9–0.40.7
Other Advanced Economies10.60.20.00.50.50.90.4–0.20.0–0.50.10.1
Memorandum
Major Advanced Economies0.0–0.1–0.10.10.20.0–0.1–0.4–0.20.0–0.1–0.4

Excludes the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and euro area countries.

Changes expressed as percent of GDP in the preceding period.

Excludes the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and euro area countries.

Changes expressed as percent of GDP in the preceding period.

Table A4.Emerging Market and Developing Economies: Real GDP(Annual percent change)
AverageProjections
2000–0920102011201220132014201520162017201820192023
Commonwealth of Independent States1,25.94.65.33.72.51.1–1.90.42.12.32.42.1
Russia5.44.55.13.71.80.7–2.5–0.21.51.71.81.2
Excluding Russia7.55.06.03.64.21.9–0.62.03.63.93.64.1
Armenia8.52.24.77.13.33.63.30.37.56.04.84.5
Azerbaijan14.64.6–1.62.15.92.70.6–3.10.11.33.62.0
Belarus7.27.85.51.71.01.7–3.8–2.52.44.03.12.0
Georgia5.96.27.26.43.44.62.92.85.05.54.85.2
Kazakhstan8.57.37.55.06.04.31.21.14.03.73.14.6
Kyrgyz Republic4.6–0.56.0–0.110.94.03.94.34.62.84.52.4
Moldova4.67.16.8–0.79.44.8–0.44.34.53.83.83.8
Tajikistan8.26.57.47.57.46.76.06.97.15.05.04.0
Turkmenistan14.29.214.711.110.210.36.56.26.56.25.65.7
Ukraine34.50.35.50.20.0–6.6–9.82.42.53.52.73.4
Uzbekistan6.48.58.38.28.08.07.97.85.35.05.06.0
Emerging and Developing Asia8.19.67.97.06.96.86.86.56.56.56.36.1
Bangladesh5.86.06.56.36.06.36.87.27.47.37.17.0
Bhutan8.29.39.76.43.64.06.27.37.45.84.87.5
Brunei Darussalam1.42.73.70.9–2.1–2.5–0.4–2.51.32.35.13.9
Cambodia8.46.07.17.37.47.17.07.06.96.96.86.0
China10.310.69.57.97.87.36.96.76.96.66.25.6
Fiji0.93.02.71.44.75.63.80.73.03.23.43.2
India46.910.36.65.56.47.48.27.16.77.37.47.7
Indonesia5.36.46.26.05.65.04.95.05.15.15.15.4
Kiribati1.4–0.91.64.64.3–0.610.31.13.12.32.41.8
Lao P.D.R.7.08.08.07.88.07.67.37.06.96.87.06.8
Malaysia4.77.55.35.54.76.05.14.25.94.74.64.8
Maldives6.37.18.42.37.17.62.24.54.84.75.05.4
Marshall Islands2.00.53.02.8–0.5–0.62.03.62.52.32.21.2
Micronesia0.53.31.0–1.7–3.0–2.53.92.92.01.40.90.6
Mongolia5.67.317.312.311.67.92.41.25.16.26.35.7
Myanmar11.15.35.67.38.48.07.05.96.86.46.87.2
Nauru13.611.710.134.236.52.810.44.0–2.4–1.01.7
Nepal4.14.83.44.84.16.03.30.67.96.35.04.3
Palau–0.96.33.9–1.62.710.10.0–3.70.82.22.0
Papua New Guinea2.810.11.14.63.815.45.31.62.5–1.13.83.8
Philippines4.47.63.76.77.16.16.16.96.76.56.66.9
Samoa3.2–2.05.60.4–1.91.21.67.12.51.83.22.2
Solomon Islands1.26.813.24.63.02.32.53.53.53.42.92.8
Sri Lanka5.18.08.49.13.45.05.04.53.33.74.35.0
Thailand4.37.50.87.22.71.03.03.33.94.63.93.6
Timor-Leste58.57.75.52.54.14.05.3–4.60.85.04.8
Tonga1.13.21.8–1.1–0.62.93.54.22.52.95.51.8
Tuvalu–3.17.9–3.84.61.39.13.03.24.34.13.9
Vanuatu3.31.61.21.82.02.30.23.54.23.83.53.0
Vietnam6.96.46.25.25.46.06.76.26.86.66.56.5
Emerging and Developing Europe4.04.36.62.54.93.94.73.36.03.82.02.7
Albania5.93.72.51.41.01.82.23.43.84.03.74.0
Bosnia and Herzegovina4.20.80.9–0.72.41.13.13.23.03.23.54.0
Bulgaria5.01.31.90.00.91.33.63.93.63.63.12.8
Croatia3.0–1.5–0.3–2.3–0.5–0.12.43.52.82.82.62.1
Hungary2.40.71.7–1.62.14.23.42.24.04.03.32.2
Kosovo3.34.42.83.41.24.14.13.74.04.04.0
FYR Macedonia3.13.42.3–0.52.93.63.92.90.01.62.63.4
Montenegro2.73.2–2.73.51.83.42.94.33.72.53.0
Poland3.93.65.01.61.43.33.83.04.64.43.52.8
Romania4.8–2.82.01.23.53.43.94.86.94.03.43.1
Serbia5.10.61.4–1.02.6–1.80.82.81.94.03.54.0
Turkey3.88.511.14.88.55.26.13.27.43.50.42.6
Latin America and the Caribbean3.06.14.62.92.91.30.3–0.61.31.22.22.9
Antigua and Barbuda2.8–7.2–2.13.5–0.15.14.15.32.83.53.02.0
Argentina2.310.16.0–1.02.4–2.52.7–1.82.9–2.6–1.63.2
Aruba0.3–3.33.5–1.44.20.9–0.4–0.11.21.11.01.2
The Bahamas1.01.50.63.1–0.4–0.11.0–1.71.42.32.11.5
Barbados1.4–2.2–0.8–0.1–1.4–0.22.22.3–0.2–0.5–0.11.8
Belize4.93.32.13.70.74.03.8–0.50.81.82.01.7
Bolivia3.74.15.25.16.85.54.94.34.24.34.23.7
Brazil3.47.54.01.93.00.5–3.5–3.51.01.42.42.2
Chile4.25.86.15.34.11.82.31.31.54.03.43.0
Colombia3.94.37.43.94.64.73.02.01.82.83.63.5
Costa Rica4.25.04.34.82.33.53.64.23.33.33.33.4
Dominica2.60.7–0.2–1.10.84.2–3.72.6–4.7–14.19.41.5
Dominican Republic4.28.33.12.74.97.67.06.64.66.45.05.1
Ecuador3.93.57.95.64.93.80.1–1.22.41.10.71.8
El Salvador1.52.13.82.82.42.02.42.62.32.52.32.2
Grenada2.3–0.50.8–1.22.47.36.43.75.13.63.62.7
Guatemala3.32.94.23.03.74.24.13.12.82.83.43.5
Guyana1.84.45.45.05.03.93.13.42.13.44.827.9
Haiti0.8–5.55.52.94.22.81.21.51.22.02.53.0
Honduras4.53.73.84.12.83.13.83.84.83.53.63.7
Jamaica0.9–1.41.4–0.50.20.60.91.50.71.21.52.2
Mexico1.45.13.73.61.42.83.32.92.02.22.53.0
Nicaragua2.94.46.36.54.94.84.84.74.9–4.0–1.04.2
Panama5.55.811.89.26.66.05.85.05.44.66.85.5
Paraguay2.311.14.2–0.58.44.93.14.34.84.44.24.1
Peru5.08.56.56.05.82.43.34.02.54.14.14.0
St. Kitts and Nevis3.2–2.9–0.8–0.86.69.52.72.92.12.73.52.7
St. Lucia2.2–1.60.60.20.33.6–0.93.43.03.43.61.5
St. Vincent and the Grenadines3.1–2.30.21.32.50.20.80.80.72.02.32.5
Suriname4.55.25.82.72.90.3–2.6–5.11.92.02.23.0
Trinidad and Tobago6.03.5–0.2–1.82.7–1.21.7–6.1–2.61.00.92.2
Uruguay2.27.85.23.54.63.20.41.72.72.03.23.0
Venezuela3.7–1.54.25.61.3–3.9–6.2–16.5–14.0–18.0–5.0–1.5
Middle East, North Africa, Afghanistan, and Pakistan5.24.64.44.82.62.92.55.12.22.42.73.0
Afghanistan8.46.514.05.72.71.02.22.72.33.05.0
Algeria3.93.62.83.42.83.83.73.21.42.52.70.5
Bahrain5.64.32.03.75.44.42.93.53.83.22.62.6
Djibouti3.24.17.34.85.06.06.56.56.76.76.76.0
Egypt5.05.11.82.23.32.94.44.34.25.35.56.0
Iran4.85.73.1–7.7–0.33.2–1.612.53.7–1.5–3.62.3
Iraq10.96.47.513.97.60.72.513.1–2.11.56.52.2
Jordan6.52.32.62.72.83.12.42.02.02.32.53.0
Kuwait5.3–2.410.97.90.40.6–1.02.2–3.32.34.12.9
Lebanon5.08.00.92.82.72.00.21.71.51.01.42.9
Libya44.23.2–66.7124.7–36.8–53.0–13.0–7.464.010.910.81.5
Mauritania4.34.84.75.86.15.60.41.83.52.55.25.3
Morocco4.83.85.23.04.52.74.51.14.13.23.24.5
Oman3.52.02.69.15.11.44.75.0–0.91.95.01.5
Pakistan4.72.63.63.83.74.14.14.65.45.84.03.0
Qatar12.118.113.44.74.44.03.72.11.62.72.82.7
Saudi Arabia3.45.010.05.42.73.74.11.7–0.92.22.42.3
Somalia1.21.40.43.94.42.33.13.53.5
Sudan65.71.4–2.4–17.93.74.81.33.01.4–2.3–1.90.4
Syria74.43.4
Tunisia4.33.5–1.94.02.93.01.21.12.02.42.94.2
United Arab Emirates4.91.66.94.55.14.45.13.00.82.93.72.9
Yemen4.17.7–12.72.44.8–0.2–16.7–13.6–5.9–2.614.76.6
Sub-Saharan Africa5.67.15.14.65.25.13.31.42.73.13.84.1
Angola8.64.93.58.55.04.80.9–2.6–2.5–0.13.13.8
Benin4.22.13.04.87.26.42.14.05.66.06.36.1
Botswana3.48.66.04.511.34.1–1.74.32.44.63.65.5
Burkina Faso5.38.46.66.55.84.33.95.96.45.96.05.3
Burundi3.45.14.04.45.94.5–4.0–1.00.00.10.40.5
Cabo Verde6.01.54.01.10.80.61.04.74.04.34.04.0
Cameroon3.93.44.14.55.45.95.74.63.53.84.45.4
Central African Republic1.03.03.34.1–36.71.04.84.54.34.35.05.0
Chad8.313.60.18.85.86.91.8–6.4–3.13.53.64.2
Comoros2.02.12.23.03.52.01.02.22.72.82.83.3
Democratic Republic of the Congo3.17.16.97.18.59.56.92.43.43.84.14.7
Republic of Congo4.68.73.43.83.36.82.6–2.8–3.12.03.70.4
Côte d’Ivoire0.72.0–4.210.19.38.88.88.37.87.47.06.5
Equatorial Guinea25.3–8.96.58.3–4.10.4–9.1–8.6–3.2–7.7–2.63.4
Eritrea–0.72.28.77.04.62.92.61.95.04.23.84.3
Eswatini3.33.82.24.76.41.90.41.41.61.30.42.0
Ethiopia8.410.611.48.79.910.310.48.010.97.58.57.5
Gabon0.66.37.15.35.54.43.92.10.52.03.44.5
The Gambia3.76.5–4.35.64.8–0.95.90.44.65.45.44.8
Ghana5.47.914.09.37.34.03.83.78.46.37.65.1
Guinea2.94.25.65.93.93.73.810.58.25.85.95.0
Guinea-Bissau2.04.68.1–1.73.31.06.16.35.94.55.05.0
Kenya3.48.46.14.65.95.45.75.94.96.06.16.0
Lesotho3.76.36.74.92.23.02.53.1–1.60.81.21.3
Liberia6.47.78.48.80.70.0–1.62.53.04.55.3
Madagascar3.00.31.53.02.33.33.14.24.25.05.44.9
Malawi4.26.94.91.95.25.72.92.34.03.34.76.5
Mali5.25.43.2–0.82.37.16.25.85.45.14.84.8
Mauritius4.44.44.13.53.43.73.63.83.83.94.04.0
Mozambique7.66.77.17.27.17.46.63.83.73.54.011.1
Namibia3.86.05.15.15.66.46.10.7–0.81.13.13.4
Niger4.38.42.211.85.37.54.34.94.95.35.46.0
Nigeria8.311.34.94.35.46.32.7–1.60.81.92.32.4
Rwanda8.37.37.88.84.77.68.96.06.17.27.87.5
São Tomé and Príncipe4.56.74.43.14.86.53.84.23.94.04.55.0
Senegal4.03.61.55.12.86.66.46.27.27.06.76.4
Seychelles1.95.95.43.76.04.54.94.55.33.63.33.3
Sierra Leone8.75.36.315.220.74.6–20.56.33.73.75.54.6
South Africa3.63.03.32.22.51.81.30.61.30.81.41.8
South Sudan–52.429.32.9–0.2–13.9–5.1–3.2–4.6–5.8
Tanzania6.26.47.95.17.37.07.07.06.05.86.66.4
Togo1.56.16.46.56.15.95.75.14.44.75.05.4
Uganda7.57.76.82.24.74.65.72.34.85.96.16.5
Zambia6.810.35.67.65.14.72.93.83.43.84.54.5
Zimbabwe8–6.115.416.313.65.32.81.40.73.73.64.25.0

Data for some countries refer to real net material product (NMP) or are estimates based on NMP. The figures should be interpreted only as indicative of broad orders of magnitude because reliable, comparable data are not generally available. In particular, the growth of output of new private enterprises of the informal economy is not fully reflected in the recent figures.

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

Data are based on the 2008 System of National Accounts. The revised national accounts data are available beginning in 2000 and exclude Crimea and Sevastopol from 2010 onward.

See country-specific notes for India and Libya in the “Country Notes” section of the Statistical Appendix.

In this table only, the data for Timor-Leste are based on non-oil GDP.

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

Data for Syria are excluded for 2011 onward owing to the uncertain political situation.

The Zimbabwe dollar ceased circulating in early 2009. Data are based on IMF staff estimates of price and exchange rate developments in US dollars. IMF staff estimates of US dollar values may differ from authorities’ estimates. Real GDP is in constant 2009 prices.

Data for some countries refer to real net material product (NMP) or are estimates based on NMP. The figures should be interpreted only as indicative of broad orders of magnitude because reliable, comparable data are not generally available. In particular, the growth of output of new private enterprises of the informal economy is not fully reflected in the recent figures.

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

Data are based on the 2008 System of National Accounts. The revised national accounts data are available beginning in 2000 and exclude Crimea and Sevastopol from 2010 onward.

See country-specific notes for India and Libya in the “Country Notes” section of the Statistical Appendix.

In this table only, the data for Timor-Leste are based on non-oil GDP.

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

Data for Syria are excluded for 2011 onward owing to the uncertain political situation.

The Zimbabwe dollar ceased circulating in early 2009. Data are based on IMF staff estimates of price and exchange rate developments in US dollars. IMF staff estimates of US dollar values may differ from authorities’ estimates. Real GDP is in constant 2009 prices.

Table A5.Summary of Inflation(Percent)
AverageProjections
2000–0920102011201220132014201520162017201820192023
GDP Deflators
Advanced Economies1.80.91.31.31.31.41.30.91.41.81.81.9
United States2.21.22.11.91.81.91.11.11.92.32.11.9
Euro Area2.00.71.01.31.20.91.40.71.11.51.62.0
Japan–1.1–1.9–1.7–0.8–0.31.72.10.3–0.20.81.51.0
Other Advanced Economies12.12.02.01.21.41.31.01.21.91.71.71.9
Consumer Prices
Advanced Economies2.01.52.72.01.41.40.30.81.72.01.92.0
United States2.61.63.12.11.51.60.11.32.12.42.12.2
Euro Area22.11.62.72.51.30.40.00.21.51.71.72.1
Japan–0.3–0.7–0.3–0.10.32.80.8–0.10.51.21.31.3
Other Advanced Economies12.12.43.32.11.71.50.50.91.82.01.92.0
Emerging Market and Developing Economies36.85.67.15.85.54.74.74.24.35.05.24.1
Regional Groups
Commonwealth of Independent States413.77.29.86.26.58.115.58.35.54.55.74.5
Emerging and Developing Asia4.05.16.54.64.63.42.72.82.43.03.23.3
Emerging and Developing Europe12.75.75.46.14.54.13.23.26.28.39.07.2
Latin America and the Caribbean6.24.25.24.64.64.95.55.66.06.15.93.5
Middle East, North Africa, Afghanistan, and
Pakistan6.76.69.39.89.26.75.44.76.410.810.26.0
Middle East and North Africa6.66.38.89.79.46.55.54.96.711.810.66.2
Sub-Saharan Africa10.78.19.39.26.56.36.911.211.08.68.57.6
Memorandum
European Union2.52.03.12.61.50.50.00.21.71.91.92.1
Low-Income Developing Countries9.79.211.79.98.07.16.98.69.69.58.87.8
Analytical Groups
By Source of Export Earnings
Fuel10.36.78.68.08.16.48.66.95.47.58.35.7
Nonfuel5.95.36.75.34.94.23.83.74.04.64.63.9
Of Which, Primary Products56.84.76.26.56.26.54.96.011.413.312.56.2
By External Financing Source
Net Debtor Economies8.06.87.77.06.35.85.65.35.75.95.84.7
Net Debtor Economies by
Debt-Servicing Experience
Economies with Arrears and/or
Rescheduling during 2013–178.99.510.37.96.710.113.88.516.816.711.97.8
Memorandum
Median Inflation Rate
Advanced Economies2.31.93.22.61.40.70.10.61.61.81.82.0
Emerging Market and Developing Economies35.24.15.44.53.83.12.72.73.33.63.73.0

Excludes the United States, euro area countries, and Japan.

Based on Eurostat’s harmonized index of consumer prices.

Excludes Venezuela but includes Argentina starting from 2017 onward. See country-specific notes for Argentina and Venezuela in the “Country Notes” section of the Statistical Appendix.

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

Includes Argentina starting from 2017 onward. See country-specific note for Argentina in the “Country Notes” section of the Statistical Appendix.

Excludes the United States, euro area countries, and Japan.

Based on Eurostat’s harmonized index of consumer prices.

Excludes Venezuela but includes Argentina starting from 2017 onward. See country-specific notes for Argentina and Venezuela in the “Country Notes” section of the Statistical Appendix.

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

Includes Argentina starting from 2017 onward. See country-specific note for Argentina in the “Country Notes” section of the Statistical Appendix.

Table A6.Advanced Economies: Consumer Prices1(Annual percent change)
End of Period2
AverageProjectionsProjections
2000–0920102011201220132014201520162017201820192023201720182019
Advanced Economies2.01.52.72.01.41.40.30.81.72.01.92.01.71.92.0
United States2.61.63.12.11.51.60.11.32.12.42.12.22.22.12.3
Euro Area32.11.62.72.51.30.40.00.21.51.71.72.11.41.91.7
Germany1.61.22.52.11.60.80.10.41.71.81.82.61.61.81.9
France1.91.72.32.21.00.60.10.31.21.91.81.91.31.62.2
Italy2.31.62.93.31.20.20.1–0.11.31.31.41.71.01.91.4
Spain3.01.83.22.41.4–0.1–0.5–0.22.01.81.81.91.12.21.7
Netherlands2.30.92.52.82.60.30.20.11.31.41.62.11.21.51.7
Belgium2.12.33.42.61.20.50.61.82.22.21.82.02.11.91.6
Austria1.91.73.52.62.11.50.81.02.22.02.12.02.31.92.1
Greece3.24.73.11.0–0.9–1.4–1.10.01.10.71.21.81.00.91.3
Portugal2.61.43.62.80.4–0.20.50.61.61.71.62.11.64.7–2.5
Ireland2.9–1.61.21.90.60.30.0–0.20.30.71.22.0–0.11.81.3
Finland1.81.73.33.22.21.2–0.20.40.81.21.72.00.51.61.7
Slovak Republic5.20.74.13.71.5–0.1–0.3–0.51.32.62.22.02.02.82.0
Lithuania3.01.24.13.21.20.2–0.70.73.72.52.22.53.82.22.2
Slovenia4.91.81.82.61.80.2–0.5–0.11.42.12.02.01.72.12.0
Luxembourg2.72.83.72.91.70.70.10.02.11.51.82.01.50.73.7
Latvia5.8–1.24.22.30.00.70.20.12.92.72.42.32.22.72.4
Estonia4.32.75.14.23.20.50.10.83.73.02.52.13.83.02.5
Cyprus2.62.63.53.10.4–0.3–1.5–1.20.70.81.82.0–0.42.42.0
Malta2.52.02.53.21.00.81.20.91.31.82.12.01.32.12.1
Japan–0.3–0.7–0.3–0.10.32.80.8–0.10.51.21.31.30.61.41.7
United Kingdom1.83.34.52.82.61.50.00.72.72.52.22.03.02.32.1
Korea3.12.94.02.21.31.30.71.01.91.51.82.01.51.61.9
Canada2.11.82.91.50.91.91.11.41.62.62.22.01.82.72.1
Australia3.22.93.31.72.52.51.51.32.02.22.32.52.02.22.4
Taiwan Province of China0.91.11.41.61.01.3–0.61.01.11.51.32.01.21.51.3
Switzerland1.00.70.2–0.7–0.20.0–1.1–0.40.51.11.41.00.91.41.1
Sweden1.91.91.40.90.40.20.71.11.91.91.72.01.82.01.6
Singapore1.52.85.24.62.41.0–0.5–0.50.61.01.41.30.42.01.3
Hong Kong SAR–0.22.35.34.14.34.43.02.41.52.32.12.51.52.32.1
Norway2.12.41.30.72.12.02.23.61.91.92.02.01.61.82.0
Czech Republic2.81.51.93.31.40.30.30.72.42.32.32.02.42.62.1
Israel2.02.73.51.71.50.5–0.6–0.50.20.91.32.00.41.21.5
Denmark2.12.32.82.40.80.60.50.31.11.41.72.01.01.61.8
New Zealand2.72.34.11.01.11.20.30.61.91.41.72.01.61.61.9
Puerto Rico2.82.52.91.31.10.6–0.8–0.31.82.71.21.21.22.71.2
Macao SAR2.85.86.15.56.04.62.41.22.22.42.82.02.22.4
Iceland6.25.44.05.23.92.01.61.71.82.52.62.51.92.62.6
San Marino2.62.02.81.61.10.10.61.01.51.61.81.01.51.6
Memorandum
Major Advanced Economies1.91.42.61.91.31.50.30.81.82.11.92.01.82.02.1

Movements in consumer prices are shown as annual averages.

Monthly year-over-year changes and, for several countries, on a quarterly basis.

Based on Eurostat’s harmonized index of consumer prices.

Movements in consumer prices are shown as annual averages.

Monthly year-over-year changes and, for several countries, on a quarterly basis.

Based on Eurostat’s harmonized index of consumer prices.

Table A7.Emerging Market and Developing Economies: Consumer Prices1(Annual percent change)
End of Period2
AverageProjectionsProjections
2000–0920102011201220132014201520162017201820192023201720182019
Commonwealth of Independent States3,413.77.29.86.26.58.115.58.35.54.55.74.54.74.86.0
Russia13.96.98.45.16.87.815.57.13.72.85.14.62.53.65.7
Excluding Russia13.38.113.39.25.78.815.511.39.98.67.04.410.17.96.4
Armenia3.67.37.72.55.83.03.7–1.40.93.04.44.02.74.74.2
Azerbaijan7.05.77.81.12.51.54.112.613.03.53.33.010.03.53.3
Belarus31.67.753.259.218.318.113.511.86.05.55.55.04.65.55.5
Georgia7.37.18.5–0.9–0.53.14.02.16.02.82.73.06.72.53.0
Kazakhstan9.27.18.35.15.86.76.714.67.46.45.62.17.16.05.2
Kyrgyz Republic8.58.016.62.86.67.56.50.43.22.94.65.03.74.15.0
Moldova11.77.47.64.64.65.19.66.46.63.64.95.07.33.05.7
Tajikistan16.06.512.45.85.06.15.85.97.35.85.56.06.75.06.0
Turkmenistan7.64.45.35.36.86.07.43.68.09.48.26.010.49.48.2
Ukraine512.99.48.00.6–0.312.148.713.914.410.97.35.213.79.06.2
Uzbekistan15.812.312.411.911.79.18.58.012.519.214.97.618.917.513.1
Emerging and Developing Asia4.05.16.54.64.63.42.72.82.43.03.23.32.83.43.0
Bangladesh5.69.411.56.27.57.06.25.75.66.06.15.55.75.86.1
Bhutan4.85.77.39.311.39.57.67.65.84.64.94.73.04.54.6
Brunei Darussalam0.60.20.10.10.4–0.2–0.4–0.7–0.20.40.50.50.00.50.5
Cambodia4.64.05.52.93.03.91.23.02.93.33.33.02.23.53.2
China1.83.35.42.62.62.01.42.01.62.22.43.01.82.52.3
Fiji3.43.77.33.42.90.51.43.93.43.93.23.02.84.53.0
India5.89.59.510.09.45.84.94.53.64.74.94.04.65.13.9
Indonesia8.55.15.34.06.46.46.43.53.83.43.83.03.63.64.0
Kiribati3.5–3.91.5–3.0–1.52.10.61.90.42.52.52.52.52.52.5
Lao P.D.R.7.86.07.64.36.44.11.31.60.80.94.53.10.12.62.9
Malaysia2.21.73.21.72.13.12.12.13.81.02.32.33.53.02.5
Maldives3.26.211.310.93.82.11.90.82.31.72.72.32.22.02.1
Marshall Islands1.85.44.31.91.1–2.2–1.50.01.41.52.00.01.41.5
Micronesia3.13.74.16.32.20.7–0.20.50.52.02.02.00.52.02.0
Mongolia8.910.37.715.08.612.95.90.54.67.68.06.87.28.08.1
Myanmar18.98.22.82.85.75.110.06.84.06.05.85.45.46.35.9
Nauru–2.0–3.40.3–1.10.39.88.25.13.82.52.01.63.02.8
Nepal5.59.69.68.39.99.07.29.94.54.25.05.52.74.65.6
Palau1.44.73.63.44.10.9–1.00.92.52.32.00.52.52.3
Papua New Guinea7.55.14.44.55.05.26.06.75.44.23.83.84.74.23.8
Philippines5.24.14.83.02.63.60.71.32.94.94.03.02.95.23.7
Samoa5.7–0.22.96.2–0.2–1.21.90.11.33.43.03.01.03.02.9
Solomon Islands9.11.07.45.95.45.2–0.60.50.51.01.64.22.13.43.3
Sri Lanka9.76.26.77.56.92.82.24.06.54.84.84.97.14.74.8
Thailand2.43.33.83.02.21.9–0.90.20.70.90.92.00.80.51.1
Timor-Leste5.213.210.99.50.70.6–1.30.61.82.74.00.82.52.8
Tonga8.03.56.31.12.11.2–1.12.67.45.25.32.55.69.41.5
Tuvalu–1.90.51.42.01.13.13.54.14.23.72.94.44.03.4
Vanuatu2.92.80.91.31.50.82.50.83.14.83.43.03.34.63.4
Vietnam6.59.218.79.16.64.10.62.73.53.84.04.02.64.04.0
Emerging and Developing Europe12.75.75.46.14.54.13.23.26.28.39.07.26.810.58.5
Albania2.73.63.42.01.91.61.91.32.02.32.83.01.82.52.9
Bosnia and Herzegovina2.42.23.72.1–0.1–0.9–1.0–1.11.21.41.62.01.61.71.8
Bulgaria66.73.03.42.40.4–1.6–1.1–1.31.22.62.32.31.83.02.3
Croatia3.21.02.33.42.2–0.2–0.5–1.11.11.61.51.81.21.31.5
Hungary6.14.93.95.71.7–0.2–0.10.42.42.83.33.02.13.13.1
Kosovo3.57.32.51.80.4–0.50.31.50.82.12.20.52.42.0
FYR Macedonia2.61.53.93.32.8–0.3–0.3–0.21.41.82.02.22.42.02.0
Montenegro10.10.43.54.12.2–0.71.5–0.32.42.82.02.01.92.91.9
Poland3.52.64.33.70.90.0–0.9–0.62.02.02.82.52.12.32.9
Romania15.76.15.83.34.01.1–0.6–1.61.34.72.72.53.33.52.8
Serbia20.26.111.17.37.72.11.41.13.12.12.33.03.02.42.5
Turkey21.78.66.58.97.58.97.77.811.115.016.713.011.920.015.5
Latin America and the Caribbean76.24.25.24.64.64.95.55.66.06.15.93.55.96.84.9
Antigua and Barbuda1.83.43.53.41.11.11.0–0.52.51.42.02.02.82.02.0
Argentina88.410.59.810.010.625.731.831.74.924.840.520.2
Aruba3.62.14.40.6–2.40.40.5–0.9–0.51.01.52.1–0.30.51.6
The Bahamas2.31.63.11.90.41.21.9–0.31.42.52.92.12.03.02.8
Barbados3.75.89.44.51.81.8–1.11.54.44.20.82.36.60.01.4
Belize2.50.91.71.20.51.2–0.90.71.11.31.91.71.11.62.1
Bolivia4.82.59.94.55.75.84.13.62.83.24.24.52.73.74.5
Brazil6.95.06.65.46.26.39.08.73.43.74.24.02.94.24.2
Chile3.51.43.33.01.94.44.33.82.22.43.03.02.32.93.0
Colombia6.32.33.43.22.02.95.07.54.33.23.43.04.13.13.0
Costa Rica10.95.74.94.55.24.50.80.01.62.42.63.02.62.23.0
Dominica2.02.81.11.40.00.8–0.80.00.61.41.61.61.41.41.8
Dominican Republic12.26.38.53.74.83.00.81.63.34.34.24.04.24.14.1
Ecuador15.33.64.55.12.73.64.01.70.4–0.20.51.2–0.20.70.1
El Salvador3.51.25.11.70.81.1–0.70.61.01.21.82.02.01.42.0
Grenada2.83.43.02.40.0–1.0–0.61.70.92.61.82.00.53.01.9
Guatemala7.03.96.23.84.33.42.44.44.43.73.94.05.73.23.9
Guyana6.14.34.42.41.90.7–0.90.82.01.32.93.31.52.23.0
Haiti14.84.17.46.86.83.97.513.414.713.311.65.515.413.010.0
Honduras8.24.76.85.25.26.13.22.73.94.44.54.04.74.74.5
Jamaica10.912.67.56.99.48.33.72.34.43.44.25.05.23.55.0
Mexico5.24.23.44.13.84.02.72.86.04.83.63.06.84.33.1
Nicaragua8.95.58.17.27.16.04.03.53.95.98.07.05.77.07.0
Panama2.43.55.95.74.02.60.10.70.92.02.42.00.52.02.4
Paraguay8.24.68.23.72.75.03.14.13.64.24.04.04.54.14.0
Peru2.61.53.43.72.83.23.53.62.81.42.02.01.42.42.0
St. Kitts and Nevis3.40.95.80.81.10.2–2.3–0.30.01.42.02.00.82.02.0
St. Lucia2.83.32.84.21.53.5–1.0–3.10.11.91.91.52.22.01.5
St. Vincent and the
Grenadines2.90.83.22.60.80.2–1.7–0.22.22.42.02.03.02.02.0
Suriname15.36.917.75.01.93.46.955.522.07.86.03.49.36.86.0
Trinidad and Tobago6.310.55.19.35.25.74.73.11.92.33.13.81.32.33.1
Uruguay8.56.78.18.18.68.98.79.66.27.66.76.16.67.96.5
Venezuela820.828.226.121.143.557.3111.8254.41,087.51,370,000.010,000,000.010,000,000.02,818.22,500,000.010,000,000.0
Middle East, North Africa, Afghanistan, and Pakistan6.76.69.39.89.26.75.44.76.410.810.26.07.113.09.0
Afghanistan2.211.86.47.44.7–0.74.45.03.04.05.03.03.04.0
Algeria3.23.94.58.93.32.94.86.45.66.56.712.04.99.04.8
Bahrain1.62.0–0.42.83.32.71.82.81.43.04.81.51.42.94.3
Djibouti3.44.05.13.72.42.92.12.70.71.02.52.5–1.01.52.5
Egypt7.011.711.18.66.910.111.010.223.520.914.07.029.814.411.1
Iran14.712.321.530.634.715.611.99.19.629.6