Chapter

Statistical Appendix

Author(s):
International Monetary Fund
Published Date:
October 1997
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The statistical appendix presents historical data, as well as projections. It comprises four sections: Assumptions, Data and Conventions, Classification of Countries, and Statistical Tables.

The assumptions underlying the estimates and projections for 1997–98 and the medium-term scenario for 1999–2002 are summarized in the first section. The following section provides a general description of the data, and the conventions used for calculating country group composites. The classification of countries in the various groups presented in the World Economic Outlook is summarized in the third section. Note that the group of advanced economies, previously labeled industrial countries, includes Israel and four newly industrialized Asian economies, which all were added to the industrial country group in the May 1997 issue of the World Economic Outlook.

The last, and main, section comprises the statistical tables. Data in these tables have been generally compiled on the basis of information available at the end of August 1997. The figures for 1997 and beyond are shown with the same degree of precision as the historical figures, solely for convenience; since they are projections, the same degree of accuracy is not to be inferred.

Assumptions

Real effective exchange rates for the advanced economies are assumed to remain constant at their average levels during the four-week period July 18–August 14. 1997, except that the bilateral exchange rates among the ERM currencies are assumed to remain constant in nominal terms. For 1997 and 1998, these assumptions imply average U.S. dollar/SDR conversion rates of 1.374 and 1.360, respectively.

Established policies of national authorities are assumed to be maintained. The more specific policy assumptions underlying the projections for selected advanced economies are described in Box 1.

It is assumed that the price of oil will average $19.39 a barrel in 1997 and$19.03a barrel in 1998. In the medium term, the oil price is assumed to remain unchanged in real terms.

With regard to interest rates, it is assumed that the London interbank offered rate (LIBOR) on six-month U.S. dollar deposits will average 5.9 percent in 1997 and 6.3 percent in 1998; that the three-month certificate of deposit rate in Japan will average 0.4 percent in 1997 and 0.9 percent in 1998; and that the three-month interbank deposit rate in Germany will average 3.2 percent in 1997 and 3.8 percent in 1998.

Data and Conventions

Data and projections for 181 countries form the statistical basis for the World Economic Outlook (the World Economic Outlook database). The data are maintained jointly by the IMF’s Research Department and area departments, with the latter regularly updating country projections based on consistent global assumptions.

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

The completion in 1993 of the comprehensive revision of the standardized System of National Accounts 1993 (SNA) and the IMF’s Balance of Payments Manual (BPM) represented important improvements in the standards of economic statistics and analysis.1 The IMF was actively involved in both projects, particularly the new Balance of Payments Manual, which reflects the IMF’s special interest in countries’ external positions. Key changes introduced with the new Manual were summarized in Box 13 of the May 1994 World Economic Outlook, The process of adapting country balance of payments data to the definitions of the new Balance of Payments Manual began with the May 1995 World Economic Outlook. However, full concordance with the BPM is ultimately dependent on the provision by national statistical compilers of revised country data, and hence the World Economic Outlook estimates are still only partly adapted to the BPM.

Composite data for country groups in the World Economic Outlook are either sums or weighted averages of data for individual countries. Arithmetically weighted averages are used for all data except inflation and money growth for the developing and transition country groups, for which geometric averages are used. The following conventions apply.

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

  • Composites for other data relating to the domestic economy, whether growth rates or ratios, are weighted by GDP valued at purchasing power parities (PPPs) as a share of total world or group GDP2

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

  • Composites relating to the external economy are sums of individual country data after conversion to U.S. dollars at the average market exchange rates in the years indicated for balance of payments data, and at end-of-year market exchange rates for debt denominated in currencies other than U.S. dollars. Composites of changes in foreign trade volumes and prices, however, are arithmetic averages of percentage changes for individual countries weighted by the U.S. dollar value of exports or imports as a share of total world or group exports or imports (in the preceding year).

For central and eastern European countries, external transactions in nonconvertible currencies (through 1990) are converted to U.S. dollars at the implicit U.S. dollar/ruble conversion rates obtained from each country’s national currency exchange rate for the U.S. dollar and for the ruble.

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

Classification of Countries

Summary of the Country Classification

The country classification in the World Economic Outlook divides the world into three major groups: advanced economies, developing countries, and countries in transition.3 Rather than being based on strict criteria, economic or otherwise, this classification has evolved over time with the objective of facilitating analysis by providing a reasonably meaningful organization of data. A few countries are presently not included in these groups, either because they are not IMF members, and their economies are not monitored by the IMF, or because databases have not yet been compiled. Cuba and the Democratic People’s Republic of Korea are examples of countries that are not IMF members, whereas San Marino, among the advanced economies, and Brunei Darussalam, among the developing countries, are examples of economies for which databases have not been completed. It should also be noted that, owing to lack of data, only three of the former republics of the dissolved Socialist Federal Republic of Yugoslavia (Croatia, the former Yugoslav Republic of Macedonia, and Slovenia) are included in the group composites for countries in transition.

Each of the three main country groups is further divided into a number of subgroups. Among the advanced economies, the seven largest in terms of GDP, collectively referred to as the major industrial countries, are distinguished as a subgroup, and so are the 15 current members of the European Union and the four newly industrialized Asian economies. The developing countries are classified by region, as well as into a number of analytical and other groups. A regional breakdown is also used for the classification of the countries in transition, Table A provides an overview of these standard groups in the World Economic Outlook, showing the number of countries in each group and the average 1996 shares of groups in aggregate PPP-valued GDP, total exports of goods and services, and population.

Table A.Classification by World Economic Outlook Groups and Their Shares in Aggregate GDP, Exports of Goods and Services, and Population, 19961.(In percent Of total for group or world)
Number of

Countries
GDPExports of Goods

and Services
Population
Share of total far
Advanced

economies
WorldAdvanced

economies
WorldAdvanced

economies
World
Advanced economies28100.056.6100.078.5100.015.8
Major industrial countries780.245.462.148.874.511.8
United States36.520.716.513.029.34.6
Japan14.28.09.17.213.82.2
Germany8.34.711.99.49.01.4
France6.33.57.15.56.41.0
Italy5.83.36.35.06.21.0
United Kingdom5.83.36.65.26.41.0
Canada3.31.94.63.63.30.5
Other advanced economies2119.811.237.929.725.54.0
Memorandum
Industrial countries (former definition)2393.653.086.567.991.014.4
European Union1536.020.451.040.040.86.5
Newly industrialized Asian economies45.93.412.910.18.41.3
Developing

countries
WorldDeveloping

countries
WorldDeveloping

countries
World
Developing countries127100.039.2100.017.3100.077.1
Regional groups
Africa518.63.411.21.914.811.4
Sub-Sahara486.22.48.41.313.310.3
Excluding Nigeria and South Africa463.71.54.30.810.17.8
Asia2657.322.542.97.467.852.3
China28.311.113.62.427.721.3
India10.64.13.70.621.616.6
Other Asia2418.57.325.64.418.614.3
Middle East and Europe1711.74.622.03.86.65.1
Western Hemisphere3322.48.823.94.110.88.3
Analytical groups By source of export earnings
Fuel1610.03.920.73.66.65.1
Nonfuel11190.035.279.313.793.472.0
Manufactures654.321.337.36.457.944.6
Primary products405.12.06.31.112.09.2
Services, income, and private transfers393.81.54.70.84.23.2
Diversified2626.810.531.05.419.414.9
By external financing source
Net creditor countries62.91.112.52.20.80.6
Net debtor countries12197.138.087.515.199.276.5
Official financing629.63.88.31.420.715.9
Private financing3463.825.061.610.745.635.1
Diversified financing2523.79.317.63.033.025.4
Net debtor countries by debt-servicing experience
Countries with arrears and/or rescheduling during 1992–966427.310.726.54.628.522.0
Other net debtor countries5769.827.361.010.670.754.5
Other groups
Heavily indebted poor countries404.21.64.40.813.110.1
Least developed countries464.51.72.70.513.410.3
Middle East and north Africa2111.74.620.53.67.55.8
Countries in

transition
WorldCountries in

transition
WorldCountries in

transition
World
Countries in transition28100.04.2100.04.2100.07.1
Central and eastern Europe1857.12.458.72.545.13.2
Excluding Belarus and Ukraine1646.41.949.72.129.92.1
Russia33.81.434.91.536.72.6
Transcaucasus and central Asia99.10.46.40.318.21.30

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

Advanced Economies

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

Table B.Advanced Economies by Subgroup
European UnionNewly Industrialized

Asian Economies
Other

Countries
Major industrial countries
FranceCanada
GermanyJapan
ItalyUnited States
United Kingdom
Other advanced economics
AustriaLuxembourgHong Kong, China1Australia
BelgiumNetherlandsKoreaIceland
DenmarkPortugalSingaporeIsrael
FinlandSpainTaiwan Province of ChinaNew Zealand
GreeceSwedenNorway
IrelandSwitzerland

In 1991 and subsequent years, data for Germany refer to west Germany and the eastern Lander (i.e., the former German Democratic Republic). Before 1991, economic data are not available on a unified basis or in a consistent manner. Hence, in tables featuring data expressed as annual percent change, these apply to west Germany in years up to and including 1991, but to unified Germany from 1992 onward. In general, data on national accounts and domestic economic and financial activity through 1990 cover west Germany only, whereas data for the central government and balance of payments apply to west Germany through June 1990 and to unified Germany thereafter.

Developing Countries

The group of developing countries (127 countries) includes all countries that are not classified as advanced economies or as countries in transition, together with a few dependent territories for which adequate statistics arc available.

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

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

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

Income, and

Private Transfers
Diversified

Source of

Export Earnings
Africa
Sub-SaharaAngolaBotswanaBeninCameroon
CongoBurundiBurkina FasoKenya
GabonCentral AfricanCape VerdeMauritius
NigeriaRepublicComorosSenegal
ChadDjiboutiSierra Leone
Congo, DemocraticEritreaSouth Africa
Republic of Côte d'IvoireGambia. The Lesotho
Equatorial GuineaMozambique,
EthiopiaRepublic of Seychelles
Ghana
Guinea
Guinea-Bissau
Liberia
Madagascar
Malawi
Mali
Mauritania
Namibia
Niger
Rwanda
São Tomé and Príncipe
Somalia
Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe
North AfricaAlgeriaMorocco Tunisia
Asia
ChinaCambodiaBhutanAfghanistan,
IndiaMyanmarFijiIslamic State of Bangladesh
MalaysiaPapua New GuineaKiribati
PakistanSolomon IslandsMaldivesIndonesia
ThailandVietnamMarshall IslandsLao People’s
Micronesia,Democratic
Federated States of NepalRepublic Philippines
SamoaSri Lanka
Tonga
Vanuatu
Middle East and Europe
BahrainCyprusMalta
Iran, IslamicEgyptSyrian Arab
Republic of IraqJordanRepublic
LebanonTurkey
KuwaitYemen, Republic of
Libya
Oman
Qatar
Saudi Arabia
United Arab
Emirates
Western Hemisphere
Trinidad and TobagoBrazilBoliviaAntigua and BarbudaArgentina
ChileColombia
VenezuelaGuyanaBahamas, The BarbadosCosta Rica
HondurasDominica
NicaraguaBelizeEcuador
PeruDominican RepublicGuatemala
SurinameEl SalvadorMexico
GrenadaNetherlands
HaitiAntilles
JamaicaUruguay
Panama
Paraguay
St. Kitts and Nevis
St, Lucia
St. Vincent and the Grenadines

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

The financial criteria first distinguish between net creditor and net debtor countries. Net creditor countries are defined as developing countries with positive net external assets at the end of I995.4 Countries in the much larger net debtor group are differentiated on the basis of two additional financial criteria: by main source of external financing and by experience with debt servicing during the 1992–96 period.5

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

Table D.Developing Countries by Region and Main External Financing Source
Net Debtor Countries
By main external financing source
Net Creditor

Countries
Official

financing
Private

financing
Diversified

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

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

Table E.Other Developing Country Croups
Heavily Indebted

Poor Countries
Least Developed

Countries
Middle East and

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

Countries in Transition

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

Table F.Countries in Transition by Region
Central and Eastern EuropeRussiaTranscaucasus and Central Asia
AlbaniaLithuaniaRussiaArmenia
BelarusMacedonia, former Yugoslav Republic of MoldovaAzerbaijan
Bosnia and HerzegovinaGeorgia
BulgariaPolandKazakhstan
CroatiaRomaniaKyrgyz Republic
Czech RepublicSlovak RepublicMongolia
EstoniaSloveniaTajikistan
HungaryUkraineTurkmenistan
LatviaYugoslavia, Federal Republic ofUzbekistan

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

List of Tables

Medium-Term Baseline Scenario

Table A1.Summary of World Output1(Annual percent change)
Ten-Year Averages
1979–881989–981989199019911992199319941995199619971998
World3.43.43.82.71.82.82.84.13.74.14.24.3
Advanced economies2.92.53.72.71.21.91.23.22.52.73.02.9
United States2.72.33.41.2-0.92.72.33.52.02.83.72.6
European Union2.32.13.53.01.61.0-0.53.02.51.72.52.8
Japan3.82.54.85.13.81.00.30.61.43.51.12.1
Other advanced economies4.74.14.23.42.83.34.05.74.84.24.44.6
Developing countries4.35.84.24.14.96.66.66.86.06.56.26.2
Regional groups
Africa2.32.93.53.31.70.81.02.92.85.23.75.0
Asia6.87.96.15.66.69.59.49.68.98.27.67.4
Middle East and Europe2.34.02.85.63.46.24.60.43.54.84.64.2
Western Hemisphere2.73.11.81.13.63.13.75.01.33.44.14.4
Analytical groups
By source of export earnings
Fuel0.73.53.55.04.56.02.30.12.43.24.04.3
Nonfuel5.06.14.33.94.96.77.17.66.46.96.46.4
By external financing source
Net creditor countries0.94.04.27.15.17.86.40.61.33.62.51.6
Net debtor countries4.55.81.24.04.96.66.67.06.16.66.36.3
Official financing3.44.03.73.73.83.42.84.03.65.53.95.3
Private financing4.86.23.43.75.97.87.97.76.36.76.66.6
Diversified financing4.35.56.44.72.84.84.76.26.76.66.36.0
Net debtor countries by debt-servicing experience
Countries with arrears and/or rescheduling during 1992–962.33.12.00.92.72.62.74.13.13.94.55.0
Other net debtor countries5.97.05.45.55.98.48.38.27.47.67.06.8
Countries in transition2.9-2.92.1-3.6-7.7-10.9-6.2-6.5-0.80.11.84.1
Central and eastern Europe-10.4-7.9-3.9-1.81.61.52.13.6
Excluding Belarus and Ukraine-10.9-4.50.23.75.03.32.83.9
Russia. Transcaucasus, and central Asia-5.2-13.9-8.7-12.3-3.9-1.91.54.9
Memorandum
Median growth rate
Advanced economies3.02.83.82.82.11.61.23.82.82.83.33.5
Developing countries3.23.83.63.12.93.83.33.84.14.34.54.8
Countries in transition3.4-1.93.0-2.3-11.3-11.5-8.3-0.42.32.73.55.0
Output per capita
Advanced economies2.31.83.01.80.41.20.62.51.82.12.42.3
Developing countries2.03.60.62.22.94.04.64.54.14.74.44.5
Countries in transition2.3-3.01.6-4.3-7.8-11.0-6.3-6.6-0.71.84.1
Value of world output in billions of U.S. dollars
At market exchange rates13,50425,88320,12022,45923,59123,47723,98625,94128,79629,60929,74131,106
At purchasing power parities16,28631,06023,80425,43226,76428,10329,50331,27133,15335,11337,42740,035
Table A2.Advanced Economies: Real GDP and Total Domestic Demand(Annual percent change)
Ten-Year AveragesFourth Quarter1
1979–881989–981989199019911992199319941995199619971998199619971998
Real GDP
Advaced economies2.92.53.72.71.21.91.23.22.52.73.02.9
Major industrial countries2.82.23.52.40.81.81.02.82.02.42.82.52.72.82.4
United States2.72.33.41.2-0.92.72.33.52.02.83.72.63.33.52.3
Japan3.82.44.85.13.81.00.30.61.43.51.12.13.00.924
Germany21.82.73.65.75.02.2-1.12.91.91.42.32.82.22.82.8
France2.21.94.32.50.81.2-1.32.82.11.52.22.82.12.82.6
Italy2.71.52.92.21.10.6-1.22.22.90.71.22.10.22.31.7
United Kingdom32.51.72.20.4-2.0-0.52.14.32.72.33.32.62.83.02.9
Canada3.21.82.4-0.2-1.80.82.24.12.31.53.73.52.34.33.0
Other advanced economies3.63.64.53.92.92.42.04.54.23.73.94.2
Spain2.32.44.73.72.30.7-1.22.12.82.23.13.4
Netherlands1.62.94.74.12.32.00.83.42.12.83.33.7
Belgium3.41.93.63.01.61.5-1.52.42.11.52.22.6
Sweden2.21.22.41.4-1.1-1.4-2.23.33.61.12.13.0
Austria2.12.33.84.32.82.00.43.01.81.01.72.7
Denmark2.12.00.61.41.30.21.54.22.62.73.02.7
Finland3.81.45.7-7.1-3.6-1.24.55.13.34.73.5
Greece41.81.93.83.10.4-1.01.52.02.63.53.5
Portugal2.82.55.74.02.21.7-1.10.52.33.33.33.5
Ireland3.16.16.17.81.93.93.17.010.47.77.35.8
Luxembourg4.25.19.93.45.45.88.54.13.53.73.73.5
Switzerland2.20.83.92.3-0.3-0.81.00.1-0.70.72.0
Norway3.03.30.92.03.13.32.75.53.65.33.83.2
Israel3.64.91.26.16.36.63.56.87.14.43.14.2
Iceland4.01.80.21.21.2-3.40.93.51.25.74.04.0
Korea8.17.26.49.59.15.15.88.68.97.16.06.0
Australia3.33.04.41.4-1.12.33.55.23.23.93.24.0
Taiwan Province of China8.16.58.25.47.66.86.36.56.05.76.26.4
Hong Kong, China8.24.82.63.45.16.36.15.44.54.95.35.0
Singapore7.38.09.69.07.36.210.410.18.87.06.05.5
New Zealand1.42.20.8-0.2-1.70.95.06.03.52.71.23.9
Memorandum
Industrial countries2.72.23.62.50.81.70.92.92.12.42.82.6
European Union2.32.13.53.01.61.0-0.53.02.51.72.52.8
Newly industrialized Asian economies8.16.76.67.38.05.86.37.67.46.45.96.0
Real total domestic demand
Advanced economies2.82.43.92.60.81.90.93.32.42.82.82.8
Major industrial countries2.72.13.42.20.31.70.93.01.92.62.72.62.72.92.3
United States2.62.32.70.8-1.62.82.93.91.92.94.13.03.64.42.4
Japan3.72.35.65.22.90.40.11.02.24.51.62.9-0.12.0
Germany1.62.32.95.24.82.8-1.32.82.10.81.32.21.31.72.4
France2.31.43.92.80.60.2-2.23.01.80.91.32.31.31.92.1
Italy2.91.02.92.51.80.5-4.51.52.30.21.12.1-0.81.62.5
United Kingdom3.01.62.9-0.6-3.10.22.03.41.82.73.83.03.04.41.7
Canada3.42.04.3-0.5-1.20.42.03.11.01.65.73.54.54.92.7
Other advanced economies3.33.76.14.63.22.50.84.84.33.63.24.0
Memorandum
Industrial countries2.72.13.62.20.31.60.63.02.12.52.72.7
European Union2.31.83.72.91.41.0-1.82.62.21.42.02.6
Newly industrialized Asian economies7.17.510.310.59.66.65.78.66.96.54.85.3
Table A3.Advanced Economies: Components of Real GDP(Annual percent change)
Ten-Year Averages
1979–881989–981989199019911992199319941995199619971998
Private consumer expenditure
Advanced economies3.02.53.42.91.42.41.72.82.42.72.82.9
Major industrial countries3.02.23.02.60.92.11.62.52.12.42.62.7
United States3.02.42.31.70.62.82.93.32.42.63.43.5
Japan3.62.44.84.42.52.11.21.92.02.81.61.2
Germany11.72.32.85.45.62.80.31.01.81.30.61.6
France2.41.73.02.71.41.40.21.11.72.11.12.4
Italy3.31.43.32.42.71.0-2.41.41.80.71.61.4
United Kingdom3.52.03.20.6-2.2-0.12.52.81.73.54.53.6
Canada3.11.91.41.0-1.61.31.62.91.12.44.03.2
Other advanced economics3.23.75.24.23.83.52.04.03.63.73.33.7
Memorandum
Industrial countries2.92.23.12.61.02.11.42.42.12.42.62.7
European Union2.52.03.32.92.31.5-0.11.71.82.02.02.3
Newly industrialized Asian economics7.27.310.38.98.57.57.07.76.46.45.25.7
Public consumption
Advanced economies2.51.52.22.62.01.50.81.00.91.31.11.2
Major industrial countries2.31.11.82.11.51.10.60.90.70.90.90.9
United States2.30.72.72.31.0-0.1-0.30.4-0.10.90.7
Japan2.92.22.01.52.02.02.42.43.52.31.81.9
Germany11.81.4-1.62.20.54.31.32.02.41.91.6
France2.61.70.42.12.83.43.41.11.21.21.1
Italy2.70.30.91.31.71.10.5-0.6-1.30.4-0.7-0.1
United Kingdom1.11.21.12.52.6-0.1-0.22.21.32.40.3-0.4
Canada2.10.64.03.22.71.00.5-1.7-0.7-1.8-1.20.3
Other advanced economies3.32.84.24.94.13.11.51.51.52.91.92.2
Memorandum
Industrial countries2.41.22.02.31.71.20.60.90.80.90.91.0
European Union2.21.41.12.32.12.31.00.90.81.40.80.9
Newly industrialized Asian economies5.75.48.48.88.17.12.72.22.17.04.33.5
Gross fixed capital formation
Advanced economies3.03.05.52.7-1.61.5-0.34.43.95.24.04.6
Major industrial countries2.82.64.61.9-2.41.94.03.15.33.74.4
United States2.53.42.0-1.4-6.65.25.16.64.37.46.75.3
Japan4.02.48.28.53.3-1.5-2.0-0.81.18.7-3.32.2
Germany11.02.86.38.56.03.5-5.64.21.5-0.81.63.1
France1.80.77.92.8-2.8-6.71.32.5-0.50.72.6
Italy2.50.84.43.60.8-1.8-12.80.56.91.21.35.0
United Kingdom3.60.96.0-3.5-9.5-1.50.64.31.51.85.05.1
Canada5.53.06.1-3.5-2.9-1.50.65.9-0.16.413.17.3
Other advanced economies3.74.59.56.21.80.1-1.56.17.05.15.35.7
Memorandum
Industrial countries2.82.65.21.9-2.51.3-0.74.03.55.13.94.5
European Union2.21.87.13.7-0.3-0.9-6.52.54.01.32.84.4
Newly industrialized Asian economies7.59.113.516.711.06.16.510.39.47.05.15.5
Final domestic demand
Advanced economies2.92.43.82.91.01.91.02.72.43.02.63.0
Major industrial countries2.82.13.22.50.41.81.02.42.02.72.42.7
United States2.82.32.31.2-1.42.72.73.32.43.03.63.4
Japan3.62.45.55.42.70.90.31.11.94.60.11.6
Germany11.62.32.65.44.73.3-1.21.81.81.11.11.9
France2.31.53.62.61.30.8-0.71.31.51.41.02.2
Italy3.01.13.12.42.10.5-4.00.92.10.81.11.8
United Kingdom3.01.63.40.2-2.6-0.31.62.91.62.93.83.1
Canada3.42.04.10.4-1.00.61.12.60.62.55.13.7
Other advanced economies3.33.86.14.93.52.51.24.14.13.93.53.9
Memorandum
Industrial countries2.82.13.52.50.51.70.72.42.12.72.52.8
European Union2.31.83.73.01.71.1-1.31.72.01.72.02.5
Newly industrialized Asian economies7.17.611.011.69.36.56.27.97.06.84.95.3
Stock building2
Advanced economies-0.10.2-0.3-0.2-0.1-0.10.6-0.20.2-0.1
Major industrial countries-0.10.2-0.3-0.2-0.10.6-0.1-0.20.3-0.1
United States-0.20.4-0.4-0.20.20.20.6-0.50.5-0.4
Japan0.1-0.20.2-0.5-0.1-0.20.3-0.1-0.1
Germany10.10.3-0.10.1-0.5-0.21.00.3-0.30.20.2
France0.40.2-0.7-0.6-1.51.70.3-0.50.30.1
Italy-0.20.1-0.30.1-0.60.60.1-0.50.3
United Kingdom-0.4-0.8-0.50.50.40.50.2-0.3
Canada0.2-1.00.1-0.20.90.50.3-0.80.7-0.2
Other advanced economies0.10.1-0.2-0.3-0.40.70.2-0.2-0.20.1
Memorandum
Industrial countries-0.10.2-0.3-0.2-0.1-0.10.6-0.20.2-0.1
European Union0.1-0.1-0.3-0.1-0.50.90.2-0.30.10.1
Newly industrialized Asian economies0.1-0.1-0.5-0.90.30.1-0.50.7-0.3-0.1
Foreign bulance2
Advanced economies0.1-0.20.10.30.3-0.20.1-0.10.2
Major industrial countries-0.10.10.20.50.1-0.20.1-0.20.1
United States-0.1-0.10.50.30.6-0.1-0.7-0.50.1-0.2-0.4-0.4
Japan0.20.1-0.70.90.60.2-0.3-0.8-0.91.10.4
Germany10.20.40.90.80.5-0.60.20.1-0.10.61.00.7
France-0.20.40.3-0.30.20.90.9-0.20.30.60.90.5
Italy-0.20.4-0.4-0.73.40.70.70.50.2
United Kingdom-0.60.1-0.81.01.2-0.70.90.9-0.5-0.4-0.5
Canada-0.3-0.1-1.60.6-0.60.50.30.91.2-0.2-2.10.1
Other advanced economies0.4-1.5-0.6-0.21.2-0.2-0.10.20.70.3
Memorandum
Industrial countries0.1-0.10.20.50.10.3-0.1-0.10.1
European Union-0.10.3-0.30.1-0.11.30.30.30.30.50.2
Newly industrialized Asian economies1.3-0.5-3.0-2.5-1.4-0.40.7-0.90.60.41.20.7
Table A4.Advanced Economies: Unemployment, Employment, and Real Per Capita GDP(In percent)
Ten-Year Averages1
1979–881989–981989199019911992199319941995199619971998
Unemployment rate
Advanced economies6.87.06.05.96.67.47.77.67.37.37.16.9
Major industrial countries6.86.75.95.86.57.27.37.26.96.96.76.7
United States27.36.05.35.66.97.56.96.15.65.45.15.3
Japan2.52.72.32.12.12.22.52.93.13.33.43.2
Germany36.68.76.86.25.57.78.89.69.410.311.311.2
France8.711.19.48.99.410.311.612.311.612.412.612.3
Italy49.311.412.011.010.910.710.211.312.012.112.211.9
United Kingdom8.87.66.25.88.09.710.39.38.27.55.85.0
Canada9.39.67.58.110.411.311.210.49.59.79.28.7
Other advanced economies7.07.86.56.36.87.79.09.18.68.58.27.8
Spain17.020.117.316.216.318.422.724.222.922.220.819.9
Netherlands7.47.37.77.06.66.67.78.78.37.66.85.9
Belgium10.911.39.38.79.310.312.012.912.912.612.812.6
Sweden2.55.91.41.52.95.38.28.07.78.08.57.7
Austria3.26.35.05.45.85.96.86.56.67.07.16.9
Denmark8.69.99.39.510.411.112.212.110.18.77.87.7
Finland5.212.53.53.57.613.117.918.417.216.314.813.9
Greece7.18.97.57.07.78.79.79.610.010.09.69.2
Portugal8.05.85.04.24.14.15.56.87.27.36.86.6
Ireland13.413.114.613.214.715.515.614.112.211.210.310.3
Luxembourg1.32.41.41.31.41.62.12.73.03.33.53.6
Switzerland0.63.40.50.51.12.54.54.74.24.75.55.5
Norway2.55.04.95.25.55.96.05.44.94.84.03.8
Israel5.48.68.99.610.611.210.07.87.06.77.37.0
Iceland0.73.31.71.81.53.04.44.85.04.43.63.1
Korea3.92.42.62.52.32.42.82.42.02.02.52.2
Australia7.68.86.27.09.610.810.99.78.58.68.68.3
Taiwan Province of China1.91.81.51.61.11.51.41.51.72.52.52.4
Hong Kong, China3.12.11.11.31.82.02.01.93.22.82.62.5
Singapore3.72.52.21.71.92.72.72.62.73.03.03.0
New Zealand4.77.97.17.810.310.39.58.16.36.16.86.5
Memorandum
Industrial countries7.17.46.36.26.97.88.28.17.77.77.57.3
European Union8.710.28.78.18.69.911.211.611.211.411.110.7
Newly industrialized Asian economies3.32.22.12.12.02.12.32.12.12.32.52.3
Growth in employment
Advanced economies1.20.92.01.60.1-0.1-0.11.01.10.91.30.9
Major industrial countries1.10.71.81.5-0.10.90.80.71.30.7
United States1.81.32.01.3-0.90.71.52.31.51.42.20.9
Japan1.10.91.92.01.91.10.20.10.10.51.20.4
Germany30.4-0.11.53.01.7-1.9-1.8-0.7-0.4-1.2-1.1-0.3
France0.31.51.10.2-0.6-1.2-0.11.10.20.8
Italy0.4-0.40.11.41.4-1.14.1-1.7-0.50.40.20.5
United Kingdom0.50.12.80.4-3.1-2.4-0.80.80.80.61.60.9
Canada2.21.02.10.6-1.9-0.61.42.11.61.31.91.9
Other advanced economies1.21.32.51.90.7-0.1-0.51.32.11.61.51.8
Memorandum
Industrial countries1.10.71.91.5-0.1-0.3-0.30.81.00.81.30.8
European Union0.30.21.71.70.1-1.6-2.0-0.30.60.30.50.7
Newly industrialized Asian economies2.32.23.12.32.41.91.52.82.21.71.92.3
Growth in real per capita GDP
Advanced economies2.31.83.01.80.41.20.62.51.82.12.42.3
Major industrial countries2.11.52.81.61.00.42.21.51.82.22.0
United States1.71.32.40.2-2.01.61.22.51.11.82.81.7
Japan3.22.14.44.73.40.70.41.23.30.91.8
Germany31.82.02.63.84.21.4-1.82.61.61.12.22.8
France1.71.53.82.00.40.8-1.72.41.91.11.82.4
Italy2.61.52.72.00.80.90.21.93.00.61.22.0
United Kingdom2.31.41.90.1-2.6-0.91.84.03.02.13.02.3
Canada2.10.60.7-1.7-3.0-0.41.13.01.10.42.62.4
Other advanced economies2.92.93.83.12.01.81.23.73.23.03.23.5
Memorandum
Industrial countries2.11.62.91.61.00.32.31.51.82.22.1
European Union2.11.73.12.31.00.7-0.62.62.21.42.32.6
Newly industrialized Asian economies6.65.65.56.16.94.85.36.36.15.44.95.0
Table A5.Developing Countries: Real GDP(Annual percent change)
Ten-Year Averages
1979–881989–981989199019911992199319941995199619971998
Developing countries4.35.84.24.14.96.66.66.86.06.56.26.2
Regional groups
Africa2.32.93.52.21.70.81.02.92.85.23.75.0
Sub-Sahara2.12.93.42.11.50.71.92.63.84.54.14.7
Excluding Nigeria and South Africa2.93.22.71.11.41.01.83.04.55.74.95.7
Asia6.87.96.15.66.69.59.49.68.98.27.67.4
Excluding China and India4.96.67.87.56.56.66.26.87.56.75.35.4
Middle East and Europe2.34.02.85.63.46.24.60.43.54.84.64.2
Western Hemisphere2.73.11.81.13.63.13.75.01.33.44.14.4
Analytical groups
By source of export earnings
Fuel0.73.53.55.04.56.02.30.12.43.24.04.3
Manufactures6.67.35.43.75.68.69.29.78.67.77.37.2
Nonfuel primary products2.34.32.01.13.23.94.65.35.95.65.25.9
Services, income, and private transfers4.63.32.12.12.62.62.93.13.84.24.64.9
Diversified3.44.53.45.14.54.54.44.72.65.75.14.9
By external financing source
Net creditor countries0.94.04.27.15.17.86.40.61.33.62.51.6
Net debtor countries4.55.84.24.04.96.66.67.06.16.66.36.3
Official financing3.44.03.73.73.83.42.84.03.65.53.95.3
Private financing4.86.23.43.75.97.87.97.76.36.76.66.6
Diversified financing4.35.56.44.72.84.84.76.26.76.66.36.0
Net debtor countries by debt-serviciag experience
Countries with arrears and/or rescheduling during 1992–962.33.12.00.92.72.62.74.13.13.94.55.0
Other net debtor countries5.97.05.45.55.98.48.38.27.47.67.06.8
Other groups
Heavily indebted poor countries2.63.42.51.21.02.32.33.35.05.55.25.9
Least developed countries2.74.13.12.72.33.34.23.55.85.65.45.6
Middle East and north Africa1.93.73.54.03.75.42.82.32.04.74.04.6
Memorandum
Real per capita GDP
Developing countries2.03.60.62.22.94.04.64.54.14.74.44.5
Regional groups
Africa-0.60.30.7-0.4-1.1-1.7-1.70.30.42.61.22.5
Asia5.15.91.23.94.87.77.67.67.36.76.15.9
Middle East and Europe-1.20.80.53.51.6-0.42.0-3.4-1.52.52.11.7
Western Hemisphere0.51.3-0.6-0.81.61.11.73.20.71.72.22.7
Table A6.Developing Countries—by Country: Real GDP1(Annual percent change)
Average
1979–8819891990109119921993199419951996
Africa2.33.52.21.70.81.02.92.85.2
Algeria0.64.80.8-1.21.6-2.2-0.93.94.0
Angola2.50.1-0.5-2.2-0.821.08.212.09.0
Benin3.1-2.53.14.74.13.23.65.55.5
Botswana11.412.97.27.53.02.03.65.16.2
Burkina Faso3.30.9-1.510.02.5-0.81.23.96.1
Burundi3.41.33.55.00.7-5.9-3.7-7.3-8.4
Cameroon5.8-1.8-6.2-3.8-3.1-3.2-2.53.35.0
Cape Verde4.61.8-1.61.43.34.23.84.74.0
Central African Republic1.63.4-1.0-0.6-2.5-2.37.72.4-2.2
Chad1.95.81.98.58.0-15.710.23.62.7
Comoros4.2-3.25.15.48.53.0-5.3-3.9-0.4
Congo7.32.71.02.42.6-1.0-5.52.24.8
Congo, Dem. Rep, of1.8-1.3-6.6-8.4-10.5-13.5-3.9-0.61.3
Côte d'Ivoire1.52.9-1.1-0.2-0.22.07.16.8
Djibouti1.4-2.6-0.60.5-0.2-3.9-2.9-4.0-5.1
Equatorial Guinea2.0-1.23.3-1.114.07.16.816.236.7
Eritrea-2.59.83.06.8
Ethiopia2.01.52.7-3.1-3.712.01.75.412.4
Gabon-0.47.05.26.1-3.32.43.43.83.1
Gambia, The4.34.35.72.24.41.81.3-4.03.2
Ghana1.15.13.45.33.95.03.84.55.2
Guinea2.44.04.32.43.04.74.04.43.5
Guinea-Bissau3.02.94.65.11.12.13.24.45.1
Kenya4.35.84.51.4-0.80.42.74.44.2
Lesotho2.710.13.32.51.87.210.29.312.5
Liberia0.6-10.8
Madagascar0.84.13.1-6.31.22.11.82.0
Malawi2.01.35.77.8-7.910.8-11.69.09.5
Mali1.311.80.4-0.98.4-2.42.36.44.0
Mauritania5.72.2-1.82.61.74.94.24.34.4
Mauritius4.65.74.76.44.86.74.33.44.7
Morocco4.02.44.06.9-4.0-1.011.6-7.611.8
Mozambique. Rep, of0.26.50.94.9-0.818.84.51.46.4
Namibia0.31.95.77.4-2.06.65.13.0
Niger1.80.9-1.32.5-6.51.44.02.63.9
Nigeria1.07.28.24.82.92.71.02.32.4
Rwanda3.4-5.70.4-4.36.6-6.8-49.024.613.3
São Tomé and Príncipe-0.23.1-2.21.20.71.12.22.02.0
Senegal3.5-1.44.5-0.72.8-2.12.04.85.6
Seychelles3.110.37.52.76.95.1-1.6-1.81.5
Sierra Leone0.55.01.6-8.0-9.60.13.5-10.05.0
Somalia0.82.4
South Africa2.32.4-0.3-1.0-2.21.32.73.43.1
Sudan1.61.56.18.65.04.34.54.3
Swaziland4.18.39.72.54.07.33.42.52.5
Tanzania2.83.94.66.44.73.93.53.84.5
Togo1.44.1-0.2-0.7-4.0-18.813.67.26.0
Tunisia3.73.57.13.99.72.23.32.46.9
Uganda2.16.55.63.48.36.311.59.87.0
Zambia1.5-3.7-0.5-1.76.88.6-4.36.4
Zimbabwe4.56.4-1.85.7-8.93.06.1-2.38.1
Asia6.86.15.66.69.59.49.68.98.2
Afghanistan. Islamic State of-1.4-7.1-2.60.81.0-3.1-3.026.26.0
Bangladesh3.85.05.14.14.84.84.75.25.6
Bhutan7.64.55.93.94.45.05.16.96.0
Cambodia3.51.27.67.04.14.07.66.5
China9.84.13.89.214.213.512.610.59.7
Fiji1.913.93.21.54.83.54.22.43.3
India4.77.45.91.74.25.06.97.46.9
Indonesia4.90.19.08.97.27.37.58.27.8
Kiribati-4.8-2.2-3.22.8-1.60.91.83.22.0
Lao P.D. Republic4.79.96.74.07.05.98.17.17.5
Malaysia5.89.29.68.67.88.39.29.58.2
Maldives10.39.316.27.66.36.26.67.26.5
Marshall Islands-1.73.20.10.14.12.83.7-2.5
Micronesia, Fed. States of-1.7-2.74.3-1.25.71.11.01.0
Myanmar1.93.72.8-0.79.75.96.87.27.0
Nepal3.24.96.44.63.37.92.95.43.8
Pakistan6.65.04.55.57.81.93.95.15.1
Papua New Guinea1.9-1.4-3.09.511.816.65.2-2.92.3
Philippines1.96.23.0-0.60.32.14.44.85.5
Samoa1.11.9-9.4-2.3-0.24.1-6.59.65.8
Solomon Islands2.14.31.02.012.34.05.86.94.4
Sri Lanka4.62.36.24.64.36.95.64.83.8
Thailand6.712.211.68.18.28.58.98.76.4
Vanuatu2.14.55.24.5-0.74.42.63.23.0
Vietnam4.97.84.96.08.68.18.89.59.5
Middle East and Europe2.32.85.63.46.24.60.43.54.8
Bahrain2.12.44.64.67.88.22.31.21.6
Cyprus6.38.07.30.49.71.56.15.52.4
Egypt5.93.02.41.20.30.52.73.24.3
Iran, Islamic Republic of-2.04.511.210.66.12.10.92.85.1
Iraq0.712.0-26.0-62.929.2-6.7
Jordan5.0-13.41.01.816.15.68.16.95.2
Kuwait-3.425.9-26.2-41.069.948.60.21.61.6
Lebanon1.3-42.213.438.24.57.08.16.57.0
Libya-0.8-7.88.212.0-4.20.1-0.9-1.12.0
Malta4.28.26.36.34.74.54.09.03.7
Oman8.53.08.46.08.56.23.84.63.8
Qatar-0.45.3-I4.8-0.49.3-0.42.3-1.110.0
Saudi Arabia2.60.210.68.52.80.60.50.52.4
Syrian Arab Republic3.9-9.07.67.110.66.77.63.63.4
Turkey4.00.39.20.85.07.7-4.77.57.1
United Arab Emirates-2.013.317.50.22.7-0.91.95.89.9
Yemen Arab Republic, former7.73.41.7
Yemen, former P.D. Republic of0.22.53.0
Yemen. Republic of4.25.93.62.5
Western Hemisphere2.71.81.13.63.13.75.01.33.4
Antigua and Barbuda7.16.33.54.41.13.54.8-4.25.0
Argentina0.4-7.0-1.310.510.36.38.5-4.64.4
Bahamas, The4.32.31.2-2.7-2.01.70.90.33.0
Barbados2.13.6-3.3-3.9-5.70.84.02.94.7
Belize3.513.011.03.09.33.41.63.83.0
Bolivia-0.53.84.65.31.64.14.63.94.0
Brazil3.23.3-3.10.3-0.81.25.74.22.9
Chile3.39.93.37.311.06.34.28.57.2
Colombia3.63.44.32.04.05.45.85.42.1
Costa Rica2.45.63.62.27.36.04.52.5-1.2
Dominica3.5-1.16.32.22.71.92.11.83.2
Dominican Republic3.64.8-5.81.08.03.04.34.87.3
Ecuador2.80.33.05.03.62.04.32.32.0
El Salvador-1.50.94.93.67.47.46.06.32.0
Grenada4.65.85.23.61.2-1.22.32.73.0
Guatemala1.03.93.13.74.83.94.04.93.1
Guyana-2.0-3.3-2.56.17.88.28.65.07.9
Haiti0.91.1-0.10.3-13.2-2.4-8.34.42.8
Honduras2.74.30.13.35.66.0-1.54.54.5
Jamaica1.84.74.10.81.81.00.50.5-1.7
Mexico3.04.25.14.23.62.04.4-6.15.1
Netherlands Antilles0.37.81.51.83.70.32.4-2.4
Nicaragua-3.7-1.7-0.1-0.20.4-0.23.34.24.5
Panama2.11.68.19.48.25.52.81.82.5
Paraguay3.85.83.12.51.84.13.14.21.6
Peru1.8-11.7-3.22.9-1.86.413.17.02.8
St Kitts and Nevis5.76.73.03.93.55.05.53.75.8
St Lucia6.09.14.12.37.12.12.24.13.7
St. Vincent and the Grenadines6.06.55.43.14.92.1-0.46.73.3
Suriname-2.04.00.12.94.0-2.2-7.05.03.0
Trinidad and Tobago-2.1-0.71.52.7-1.7-1.63.82.43.2
Uruguay1.51.30.93.27.92.96.4-1.95.0
Venezuela1.1-8.66.59.76.10.3-2.93.4-1.6
Table A7.Countries in Transition: Real GDP1(Annual percent change)
Average
1979–8819891990199119921993199419951996
Central and eastern Europe-10.4-7.9-3.9-1.81.61.5
Albania1.89.8-10.0-28.0-7.29.69.48.98.2
Belarus-1.2-9.7-7.6-12.6-10.42.6
Bulgaria4.3-0.5-9.1-11.7-7.3-1.51.82.1-10.9
Croatia-4.21.12.44.7
Czech Republic0.62.74.84.1
Czechoslovakia, former2.44.5-0.4-15.9-8.5
Estonia-7.9-21.6-8.2-1.84.34.0
Hungary1.70.7-3.5-11.9-3.1-0.62.91.51.0
Latvia-11.1-35.2-16.12.20.42.8
Lithuania-13.1-51.9-24.21.03.13.6
Macedonia, former Yugoslav Rep, of-8.4-4.0-1.41.1
Moldova-17.5-11.9-24.1-31.0-3.4-8.0
Poland0.80.2-11.6-7.02.63.86.06.55.5
Romania2.8-5.8-5.6-12.9-8.81.53.97.14.1
Slovak Republic-3.74.66.86.9
Slovenia2.85.34.13.1
Ukraine-11.9-17.0-16.8-23.0-12.0-10.0
Yugoslavia, former1.30.8-7.5-17.0-34.0
Russia-5.0-14.5-8.7-12.6-4.0-2.8
Transcaucasus and central Asia-6.1-11.2-8.8-11.3-3.71.6
Armenia-12.4-52.6-14.15.46.95.8
Azerbaijan-0.7-22.1-23.1-18.1-11.01.3
Georgia-20.6-44.8-25.4-11.42.410.5
Kazakhstan-9.8-2.9-10.4-17.8-8.91.1
Kyrgyz Republic-7.9-13.9-15.5-20.15.45.6
Mongolia6.64.2-5.6-9.2-9.5-3.02.36.32.6
Tajikistan-7.1-28.9-11.1-21.4-12.5-7.0
Turkmenistan-4.7-5.3-10.0-18.8-8.2-3.0
Uzbekistan-0.5-11.1-2.3-4.2-0.91.6
Table A8.Summary of Inflation(In percent)
Ten-Year Averages
1979–881989–981989199019911992199319941995199619971998
GDP deflators
Advanced economies6.63.04.44.54.53.32.82.22.32.11.82.0
United States5.43.04.24.34.02.82.62.42.52.32.12.6
European Union7.83.54.95.35.54.53.62.52.92.41.82.0
Japan2.31.02.02.32.71.70.60.2-0.60.9-0.1
Other advanced economies11.83.86.25.75.43.53.32.93.22.82.32.7
Consumer prices
Advanced economies6.83.34.55.24.73.53.12.62.52.42.22.3
United States6.13.44.85.44.23.03.02.62.82.92.42.8
European Union7.53.64.75.45.14.53.83.02.92.51.92.2
Japan2.71.52.33.13.31.71.20.7-0.10.11.60.7
Other advanced economies11.84.25.96.36.54.13.53.43.63.32.92.9
Developing countries31.834.565.068.236.238.746.851.422.713.210.08.9
Regional groups
Africa15.523.719.015.424.632.129.538.733.125.014.87.9
Asia8.48.811.96.57.87.110.314.811.96.65.85.9
Middle East and Europe18.926.021.722.127.825.924.632.135.924.822.124.2
Western Hemisphere93.6122.0339.8443.9129.1153.2212.5213.941.720.513.510.3
Analytical groups By source of export earnings
Fuel12.323.320.914.121.523.125.433.641.330.515.910.4
Nonfuel35.836.272.477.738.340.949.853.720.811.49.38.7
By external financing source
Net creditor countries3.23.31.73.26.43.84.13.45.02.21.52.1
Net debtor countries33.235.767.871.137.440.148.653.323.313.510.29.1
Official financing17.919.622.917.725.423.622.127.422.315.312.37.9
Private financing46.149.9111.2117.049.556.270.877.327.414.410.79.8
Diversified financing12.711.39.813.515.711.711.411.713.410.38.17.7
Net debtor countries by debt-servicing experience
Countries with arrears and/or rescheduling during 1992–9660.9101.2239.2294.9107.5131.7179.5192.342.319.212.38.4
Other net debtor countries17.912.715.612.112.511.212.816.916.411.39.59.4
Countries in transition6.4115.526.835.695.9580.7486.2246.1119.240.432.314.1
Central and eastern Europe95.0246.8307.1141.170.532.141.317.2
Excluding Belarus and Ukraine98.089.774.444.725.424.443.413.7
Russia92.71,353.0699.8302.0190.147.815.87.8
Transcaucasus and central Asia114.0880.21,096.11,532.6260.270.043.419.7
Memorandum
Median inflation rate
Advanced economies7.23.24.95.44.03.23.02.42.42.22.02.2
Developing countries10.19.09.110.411.89.89.511.910.07.05.15.0
Countries in transition1.1164.92.06.7101.4839.5472.2131.646.024.215.49.8
Table A9.Advanced Economies: GDP Deflators and Consumer Prices(Annual percent change)
Ten-Year AveragesFourth Quarter1
1979–881989–981989199019911992199319941995199619971998199619971998
GDP deflators
Advanced economies6.63.04.44.54.53.32.82.22.32.11.82.0
Major industrial countries5.72.74.04.14.13.02.51.92.01.91.71.81.71.81.8
United States5.43.04.24.34.02.82.62.42.52.32.12.62.22.32.7
Japan2.31.02.02.32.71.70.60.2-0.60.9-0.1-0.11.4-0.4
Germany23.12.72.13.23.95.53.92.22.21.01.11.50.51.51.9
France7.82.03.03.13.32.12.51.51.61.20.61.20.90.41.8
Italy12.74.96.37.67.74.74.43.55.05.12.62.34.22.12.1
United kingdom8.24.07.16.46.54.63.21.62.43.02.72.73.22.82.0
Canada6.21.94.83.12.91.21.10.71.51.31.01.51.70.61.7
Other advanced economies10.84.36.36.56.34.84.13.53.62.92.32.7
Spain11.04.97.17.37.16.94.34.04.93.32.12.1
Netherlands2.62.01.22.32.72.31.92.01.51.52.42.2
Belgium2.92.44.63.13.23.64.22.31.71.6-2.02.0
Sweden8.14.08.08.87.61.02.62.53.70.92.32.6
Austria4.22.82.93.34.04.23.43.42.11.71.61.6
Denmark6.62.34.22.72.23.20.61.62.01.92.32.5
Finland7.62.56.15.72.60.72.41.32.41.20.61.9
Greece18.312.314.520.619.814.614.110.99.38.86.85.0
Portugal19.37.712.012.114.913.26.85.05.02.82.92.7
Ireland9.41.95.4-0.81.82.24.31.10.41.21.72.1
Luxembourg4.62.1-0.31.72.83.38.00.31.82.02.0
Switzerland3.62.64.25.75.52.62.01.92.50.10.41.0
Norway7.12.65.73.82.5-0.52.2-0.23.34.02.52.5
Israel113.312.820.116.120.712.211.112.59.211.28.57.1
Iceland38.66.219.816.87.73.72.52.02.81.83.43.8
Korea9.65.75.39.910.16.15.15.55.63.43.13.3
Australia8.52.67.64.62.11.41.51.12.82.21.21.9
Taiwan Province of China5.02.93.33.83.83.91.51.91.92.91.52.8
Hong Kong, China9.57.512.37.59.29.78.56.92.65.47.05.8
Singapore3.63.34.85.03.41.25.44.63.01.82.22.0
New Zealand13.02.56.83.41.01.72.61.32.62.12.02.1
Memorandum
Industrial countries6.02.84.34.44.33.22.62.02.21.91.71.9
European Union7.83.54.95.35.54.53.62.52.92.41.82.0
Newly industrialized Asian

economies
7.75.05.77.37.65.65.14.53.93.43.13.4
Consumer prices
Advanced economics6.83.34.55.24.73.53.12.62.52.42.22.3
Major industrial countries6.03.04.34.84.33.22.82.22.32.22.12.12.32.02.2
United States6.13.44.85.44.23.03.02.62.82.92.42.83.22.13.0
Japan2.71.52.33.13.31.71.20.7-0.10.11.60.70.41.80.5
Germany2,33.02.92.82.73.55.14.52.71.81.51.92.31.52.41.9
France8.02.23.53.43.22.42.11.71.82.01.11.31.70.91.8
Italy12.14.66.36.56.35.34.64.15.23.91.82.12.91.82.0
United Kingdom47.64.25.98.16.84.73.02.42.82.92.62.73.22.52.7
Canada6.62.65.04.85.61.51.80.22.21.71.51.61.91.52.0
Other advanced economies10.64.45.86.76.34.94.14.13.73.32.72.8
Memorandum
Industrial countries6.33.14.45.04.53.42.92.32.42.32.02.1
European Union7.53.64.75.45.14.53.83.02.92.51.92.2
Newly industrialized Asian

economies
7.45.35.87.17.55.94.65.74.64.34.03.9
Table A10.Advanced Economies: Hourly Earnings, Productivity, and Unit Labor Costs in Manufacturing(Annual percent change)
Ten-Year Averages
1979–881989–981989199019911992199319941995199619971998
Hourly turnings
Advanced economies8.06.26.56.26.15.53.43.13.43.63.23.7
Major industrial countries7.25.65.15.86.15.13.72.83.23.22.73.3
United States6.45.03.34.75.34.42.92.82.83.42.83.9
Japan3.93.86.76.55.94.62.62.72.51.72.61.9
Germany15.35.14.25.77.39.66.71.94.14.32.32.9
France9.86.94.84.85.44.67.14.11.52.42.53.1
Italy14.610.29.78.79.46.64.22.65.64.74.33.5
United Kingdom10.98.39.48.97.54.64.24.06.63.72.94.9
Canada6.51.85.35.24.73.52.11.61.43.21.32.3
Other advanced economies11.78.812.78.36.47.32.14.54.55.25.05.1
Memorandum
Industrial countries7.45.95.56.16.25.43.82.93.33.32.93.4
European Union9.67.47.37.27.56.75.53.44.33.83.13.5
Newly industrialized

Asian economies
11.89.729.79.42.18.0-5.46.24.78.37.88.3
Productivity
Advanced economies4.03.43.11.91.72.51.84.53.73.02.92.4
Major industrial countries3.02.92.72.22.02.51.94.43.73.02.82.3
United States2.62.61.31.82.33.62.22.73.13.52.62.3
Japan3.22.74.52.81.5-3.7-1.63.54.94.05.01.4
Germany12.83.63.13.52.94.03.28.65.25.53.83.5
Prance4.24.05.11.51.34.23.59.43.82.43.22.6
Italy4.63.73.01.41.33.91.96.06.02.13.0
United Kingdom3.73.14.42.22.14.34.74.42.9-0.5-0.82.4
Canada1.41.60.53.31.04.33.13.8-0.90.80.81.2
Other advanced economies7.85.25.30.70.22.41.25.23.83.02.92.8
Memorandum
Industrial countries3.93.32.92.01.92.52.24.63.62.92.82.3
European Union5.84.64.31.91.93.73.77.44.42.12.32.7
Newly industrialized Asian economies6.24.29.9-4.41.3-6.92.45.36.24.44.5
Unit labor costs
Advanced economies4.73.23.34.24.33.01.7-1.3-0.30.50.31.2
Major industrial countries4.02.72.43.54.02.71.8-1.5-0.50.2-0.11.0
United States3.72.42.02.92.90.70.70.1-0.3-0.10.21.6
Japan0.71.12.03.54.38.64.3-0.7-2.3-2.2-2.30.5
Germany12.51.51.02.14.25.43.4-6.1-1.1-1.1-1.4-0.6
France5.32.8-0.33.34.00.33.6-4.9-2.30.1-0.70.5
Italy9.66.26.57.28.02.62.2-3.3-0.44.72.10.5
United Kingdom7.05.04.96.65.20.3-0.5-0.43.64.33.72.4
Canada5.03.14.81.83.7-0.8-1.0-2.12.42.40.41.0
Other advanced economies7.95.47.27.45.74.41.0-0.80.41.81.72.0
Memorandum
Industrial countries4.22.92.64.04.22.91.6-1.6-0.30.50.11.1
European Union5.63.72.95.35.43.01.8-3.71.70.80.8
Newly industrialized Asian economies4.24.216.78.45.14.81.32.2-1.51.12.22.6
Table A11.Developing Countries: Consumer Prices(Annual percent change)
Ten-Year Averages
1979–881989–981989199019911992199319941995199619971998
Developing countries31.833.265.088.236.238.746.851.422.713.210.08.9
Regional groups
Africa15.519.51.9.015.424.632.129.538.733.125.014.87.9
Sub-Sahara18.223.324.016.827.637.737.646.441.13.1.818.79.5
Excluding Nigeria and South Africa20.427.121.120.737.845.443.359.846.442.622.09.6
Asia8.48.611.96.57.87.110.314.811.96.65.85.9
Excluding China and India10.19.28.49.710.97.67.88.08.57.17.27.5
Middle East and Europe18.922.421.722.127.825.924.632.135.924.822.124.2
Western Hemisphere93.6107.3339.8443.9129.1153.2212.5213.941.720.513.510.3
Analytical groups
By source of export earnings
Fuel12.317.720.914.121.523.125.433.641.330.515.910.4
Manufactures33.839.189.498.341.757.678.884.020.67.15.95.6
Nonfuel primary products44.345.9120.9143.682.442.733.337.125.120.615.78.7
Services, income, and private transfers16.015.119.123.319.319.713.414.612.19.16.26.0
Diversified40.132.149.248.129.118.916.116.721.519.116.116.1
By external financing source
Net creditor countries3.23.31.73.2643.84.13.45.02.21.52.1
Net debtor countries33.234.467.871.137.440.148.653.323.313.510.29.1
Official financing17.918.722.917.725.423.622.127.422.315.312.37.9
Private financing46.148.0111.2117.049.556.270.877.327.414.410.79.8
Diversified financing12.712.09.813.515.711.711.411.711.410.38.17.7
Net debtor countries by debt-servicing experience
Countries with arrears and/or rescheduling during 1992–9660.979.9239.2294.9107.5131.7179.5192.342.319.212.38.4
Other net debtor countries17.915.315.612.112.511.212.816.916.411.39.59.4
Other groups
Heavily indebted poor countries28.832.631.431.551.844.543.057.144.839.620.39.3
Least developed countries18.622.225.425.339.736.029.038.525.120.215.39.0
Middle Last and north Africa13.214.212.914.620.218.315.519.722.312.910.47.5
Memorandum
Median
Developing countries10.19.09.110.411.89.89.511.910.07.05.15.0
Regional groups
Africa10.610.69.110.110.510.19.324.812.48.06.85.5
Asia8.78.18.29.211.98.98.77.98.16.75.55.5
Middle East and Europe7.05.73.89.09.06.95.04.75.06.54.03.0
Western Hemisphere13.111.915.221.821.812.110.710.610.17.15.05.0
Table A12.Developing Countries—by Country: Consumer Prices1(Annual percent change)
Average
1970–8819891990199119921993199419951996
Africa15.519.015.424.632.129.538.733.125.0
Algeria9.29.216.725.931.716.138.421.915.1
Angola13.11.81.883.6299.11,379.5949.82,671.64,145.3
Benin3.3-0.21.12.15.90.538.615.14.7
Botswana10.711.611.411.816.214.310.510.510.1
Burkina Faso0.4-0.5-0.52.2-2.01.024.77.86.1
Burundi8.211.77.09.04.59.714.719.426.4
Cameroon8.41.61.5-0.61.93.712.730.96.4
Cape Verde12.65.310.68.07.05.93.48.45.0
Central African Republic7.10.6-0.2-2.8-0.8-2.924.519.24.4
Chad6.0-4.90.54.2-3.8-7.041.39.511.3
Comoros5.94.4-7.4-1.72.62.025.37.11.4
Congo7.54.02.8-1.6-3.94.942.98.610.2
Congo, Dem. Rep, of57.3104.181.32,154.44,129.21,893.123,760.5541.8610.6
Côte d'Ivoire8.51.0-0.71.64.22.126.014.22.8
Djibouti5.73.07.86.83.44.46.54.94.0
Equatorial Guinea18.87.20.70.91.01.638.911.46.0
Eritrea4.611.610.79.3
Ethiopia6.49.65.220.823.010.11.213.40.9
Gabon6.36.65.73.3-10.80.636.110.04.5
Gambia. The16.210.810.29.112.05.94.04.04.8
Ghana47.325.337.218.010.124.924.959.546.6
Guinea31.428.319.419.616.67.14.25.65.0
Guinea-Bissau52.180.833.057.669.448.215.245.450.7
Kenya11.57.611.219.627.346.028.81.79.0
Lesotho14.714.711.617.717.213.18.29.39.3
Liberia6.125.3
Madagascar18.89.011.88.515.19.239.149.019.8
Malawi16.912.511.98.223.222.834.783.137.7
Mali3.7-0.21.61.5-5.9-0.624.812.46.5
Mauritania8.79.06.45.610.19.34.16.53.0
Mauritius10.416.010.712.82.98.99.46.15.8
Morocco8.13.17.08.05.75.25.16.13.0
Mozambique, Rep, of32.242.143.733.345.142.365.154.444.6
Namibia12.915.512.011.917.78.510.810.08.0
Niger4.8-0.8-2.0-1.9-1.7-0.335.510.95.3
Nigeria16.650.57.413.044.657.257.070.029.3
Rwanda6.11.04.219.69.512.464.022.08.9
São Tomé and Príncipe10.442.942.246.533.731.848.064.535.5
Senegal7.60.50.3-1.80.732.18.12.8
Seychelles5.01.53.92.03.21.31.80.2-1.0
Sierra Leone53.460.8110.9102.765.517.618.429.823.1
Somalia44.5110.4
South Africa14.514.814.415.213.99.79.08.67.4
Sudan32.365.356.0111.0110.0103.0119.085.094.0
Swaziland14.36.313.611.08.211.313.812.38.0
Tanzania28.631.230.431.724.823.830.234.025.7
Togo5.6-1.21.10.31.6-2.542.115.94.6
Tunisia8.77.76.58.25.84.04.76.23.7
Uganda115.445.424.542.230.06.56.17.46.3
Zambia27.0128.3109.697.7165.7183.354.634.943.1
Zimbabwe12.912.817.423.342.127.622.322.621.4
Asia8.411.96.57.87.110.314.811.96.6
Afghanistan, Islamic State of15.189.8157.8166.058.234.020.014.014.0
Bangladesh11.78.76.06.33.53.16.36.33.9
Bhutan9.28.59.413.316.08.98.110.77.0
Cambodia55.3141.8197.075.0114.5-0.57.77.2
China5.617.82.12.75.413.021.714.86.1
Fiji7.55.711.96.18.26.54.95.20.6
India9.16.59.913.09.88.410.010.27.3
Indonesia11.16.47.89.47.59.78.59.46.6
Kiribati6.95.33.85.74.06.15.23.6-0.6
Lao P.D. Republic47.759.735.713.49.86.36.825.77.5
Malaysia3.72.62.82.64.73.53.73.43.5
Maldives11.17.23.614.716.820.216.55.43.5
Marshall Islands2.20.74.010.35.05.67.34.0
Micronesia, fed. States of4.53.54.05.06.04.04.04.0
Myanmar8.423.821.929.122.333.622.428.920.0
Nepal7.711.59.821.08.98.97.68.19.0
Pakistan7.37.99.111.69.710.012.312.410.4
Papua New Guinea6.44.57.07.04.35.02.917.311.6
Philippines15.010.612.718.78.97.69.08.18.4
Samoa13.76.415.28.51.718.41.07.03.5
Solomon Islands11.014.98.610.89.210.417.19.87.2
Sri Lanka12.611.621.512.211.411.78.47.715.9
Thailand6.15.56.05.74.13.45.15.85.9
Vanuatu8.37.55.05.64.11.72.71.72.5
Vietnam118.435.067.068.117.55.214.512.86.0
Middle East and Europe18.921.722.127.825.924.632.135.924.8
Bahrain2.21.21.31.02.10.43.11.2
Cyprus6.33.84.55.06.54.94.73.13.0
Egypt16.320.221.219.521.111.29.09.47.2
Iran. Islamic Republic of18.917.49.020.724.422.935.249.423.2
Iraq18.015.050.0263.812.868.044.7208.434.5
Jordan5.825.716.18.24.03.33.52.46.5
Kuwait3.43.31.816.95.70.42.52.71.8
Lebanon63.472.268.851.5120.024.78.010.69.5
Libya9.81.38.611.718.023.017.010.07.0
Mafia4.10.83.02.61.64.14.24.02.5
Oman2.51.610.04.61.01.20.7-1.32.0
Qatar4.33.33.04.43.1-0.91.33.42.6
Saudi Arabia0.11.02.14.6-0.40.70.75.01.0
Syrian Arab Republic21.415.411.19.011.013.215.38.010.0
Turkey49.563.360.366.070.166.1106.393.682.3
United Arab Emirates5.93.30.65.56.95.03.94.83.3
Yemen Arab Republic, former13.819.414.0
Yemen, former P.D. Republic of5.72.1
Yemen, Republic of44.950.662.371.848.029.0
Western Hemisphere93.6339.8443.9129.1153.2212.5213.941.720.5
Antigua and Barbuda6.74.46.54.62.23.13.42.91.8
Argentina226.03,080.52,314.7171.724.910.64.23.40.2
Bahamas, The6.65.44.67.15.72.71.32.21.5
Barbados7.96.33.06.36.11.10.11.92.4
Belize3.02.13.05.62.81.62.32.92.4
Bolivia231.515.217.121.412.18.57.910.212.4
Brazil233.31,319.92,740.0413.3991.42,103.32,124.011.1
Chile22.817.026.021.815.412.711.48.27.4
Colombia23.625.929.130.427.022.422.820.920.8
Costa Rica24.716.519.028.721.89.813.523.217.6
Dominica8.56.91.95.55.41.61.31.7
Dominican Republic18.934.679.97.95.12.814.39.23.8
Ecuador26.375.748.448.854.645.027.322.924.3
El Salvador17.817.624.014.411.218.510.610.19.8
Grenada8.45.62.82.63.82.82.62.22.8
Guatemala12.413.041.035.110.213.412.58.410.6
Guyana20.489.763.6101.528.211.713.612.37.1
Haiti7.511.020.419.021.318.837.430.221.9
Honduras7.77.021.226.09.110.722.518.58.3
Jamaica18.116.124.868.657.524.531.721.721.5
Mexico64.820.026.722.715.59.87.035.034.4
Netherlands Antilles5.53.83.73.81.51.91.92.73.5
Nicaragua244.84,709.33,127.57,755.340.520.47.711.26.8
Panama3.60.21.91.41.80.51.30.91.3
Paraguay20.526.038.224.315.118.320.613.48.2
Peru116.63,398.77,481.6409.573.548.623.711.111.5
St. Kitts and Nevis4.65.14.24.22.91.81.43.02.0
St. Lucia5.94.43.86.25.60.82.65.93.3
St, Vincent and the Grenadines7.32.77.35.93.84.30.42.44.4
Suriname13.60.821.826.043.7143.4368.5235.5-0.8
Trinidad and Tobago12.84.611.03.86.511.15.65.33.6
Uruguay55.280.4112.5101.868.554.244.742.228.3
Venezuela15.684.540.734.231.438.160.859.999.9
Table A13.Countries in Transition: Consumer Prices1(Annual percent change)
Average
1979–8819891990199119921993199419951996
Central and eastern Europe95.0246.8307.1141.170.532.1
Albania35.8225.285.022.67.812.7
Belarus83.5969.01,190.02,220.0709.053.0
Bulgaria1.96.423.9333.582.072.896.062.1123.0
Croatia1,516.097.51.63.5
Czech Republic20.810.09.18.8
Czechoslovakia, Former1.81.410.859.011.0
Estonia210.61,069.089.047.728.923.1
Hungary8.116.929.034.223.022.518.828.223.6
Latvia124.4951.3109.135.925.118.8
Lithuania224.71,020.5410.472.139.524.7
Macedonia, former Yugoslav Rep, of334.5126.516.1-0.7
Moldova162.01,276.0788.5329.630.223.8
Poland27.2251.1585.870.343.035.332.227.919.9
Romania3.65.1161.1210.4256.1136.732.338.8
Slovak Republic23.013.49.95.8
Slovenia32.319.812.69.7
Ukraine91.21,209.74,734.9891.0376.080.2
Yugoslavia, former63.21,239.9583.1117.46,146.6
Russia92.71,353.0699.8302.0190.147.8
Transcaucasus and central Asia114.0880.21,096.11,532.6260.270.0
Armenia100.3824.53,731.85,273.4176.718.6
Azerbaijan105.6912.61,129.71,664.4411.719.8
Georgia78.5887.43,125.415,606.5162.640.2
Kazakhstan91.01,381.01,662.31,879.9176.339.1
Kyrgyz Republic85.0854.6772.4228.752.530.4
Mongolia0.220.2202.6268.487.656.849.3
Tajikistan111.61,156.72,194.9350.4610.0443.0
Turkmenistan102.5492.93,102.41,748.01,005.0992.0
Uzbekistan169.0645.2534.01,568.0304.654.0
Table A14.Summary Financial Indicators(In percent)
1989199019911992199319941995199619971998
Advanced economies
Central government fiscal balance1
Advanced economies-2.1-2.6-3.0-4.0-4.2-3.5-3.2-2.6-1.6-1.4
United States-2.4-3.0-3.5-4.7-3.9-2.7-2.3-1.4-0.6-0.6
European Union-2.9-3.5-3.8-4.8-5.9-5.2-4.5-4.0-2.6-2.2
Japan-1.2-0.5-0.2-1.7-2.7-3.5-4.1-4.2-3.4-2.9
Other advanced economies-0.2-0.7-1.9-2.3-2.1-1.3-0.9-0.50.20.4
General government fiscal balance1
Advanced economies-1.1-2.1-2.6-3.7-4.2-3.4-3.2-2.6-1.5-1.2
United States-1.7-2.7-3.3-4.4-3.6-2.3-1.9-1.1-0.3-0.3
European Union-2.4-3.7-4.3-5.1-6.4-5.8-5.2-4.3-2.8-2.3
Japan2.52.92.91.5-1.6-2.3-3.7-4.4-2.7-2.3
Other advanced economies-0.9-2.4-3.3-2.6-1.4-1.0-0.30.30.5
General government structural balance1
Advanced economies-2.5-3.4-3.2-3.6-3.4-2.8-2.6-2.0-0.9-0.8
Growth of broad money
Advanced economies9.48.25.83.23.92.54.45.0
United States5.24.13.11.81.30.64.04.7
European Union10.311.69.54.76.02.24.45.5
Japan12.07.42.3-0.22.22.83.33.2
Other advanced economies17.311.98.78.28.09.38.18.5
Short-term interest rates2
United States8.17.55.43.43.04.25.55.15.35.7
Japan4.76.97.04.12.71.91.00.30.40.9
Germany7.18.49.29.57.25.34.53.33.23.8
LIBOR9.38.46.13.93.45.16.15.65.96.3
Developing countries
Central government fiscal balance1
Weighted average-4.6-3.2-3.5-2.9-3.3-2.7-2.6-2.3-1.9-1.8
Median-4.5-3.9-4.0-3.7-4.2-4.1-3.7-2.9-2.3-2.0
General government fiscal balance1
Weighted average-5.5-3.9-3.8-3.5-3.8-3.0-3.1-2.8-2.9-2.7
Median-4.7-3.9-3.8-3.7-4.5-4.1-3.7-2.4-2.0-1.6
Growth of broad money
Weighted average101.296.277.284.083.469.825.622.619.017.0
Median16.417.919.318.016.419.216.813.911.410.7
Countries in transition
Central government fiscal balance1-2.6-4.4-9.2-10.1-5.9-6.7-3.4-3.8-3.8-2.6
General government fiscal balance1-2.6-4.2-9.3-13.4-6.3-6.2-3.9-4.1-4.3-3.0
Growth of broad money106.223.8117.9965.6271.5137.966.025.926.017.1
Table A15.Advanced Economies: General and Central Government Fiscal Balances and Balances Excluding Social Security Transactions1(In percent of GDP)
1989199019911992199319941995199619971998
General government fiscal balance
Advanced economies-1.1-2.1-2.6-3.7-4.2-3.4-3.2-2.6-1.5-1.2
Major industrial countries-1.2-2.1-2.7-3.8-4.3-3.5-3.4-2.9-1.6-1.3
United States-1.7-2.7-3.3-4.4-3.6-2.3-1.9-1.1-0.3-0.3
Japan2.52.92.91.5-1.6-2.3-3.7-4.4-2.7-2.3
Germany20.1-2.0-3.3-2.8-3.5-2.4-3.5-3.6-3.1-2.9
France3-1.2-1.6-2.0-3.8-5.6-5.6-5.0-4.1-3.2-3.2
Italy-9.8-11.1-10.1-9.6-10.0-9.6-7.0-6.7-3.2-3.0
United Kingdom40.9-1.2-2.6-6.3-7.9-6.9-5.6-4.7-2.0-0.6
Canada-2.9-4.1-6.6-7.4-7.3-5.3-4.1-1.80.20.8
Other advanced economies-0.8-1.6-2.5-3.3-3.9-3.0-2.7-1.6-1.1-0.8
Spain-2.8-3.7-4.4-3.5-6.7-6.3-6.6-4.4-3.0-2.6
Netherlands-4.7-5.1-2.9-3.9-3.2-3.4-4.0-2.3-2.1-1.8
Belgium-6.2-5.5-6.2-6.9-7.1-4.9-3.9-3.2-2.8-2.6
Sweden5.44.2-1.1-7.8-12.3-10.3-7.9-2.5-2.1
Austria-2.8-2.2-2.7-1.9-4.2-4.8-5.3-3.9-2.5-2.5
Denmark-0.5-1.5-2.1-2.9-3.9-3.4-1.9-1.40.50.5
Finland6.35.3-1.5-5.9-8.0-6.2-5.2-3.1-1.9-0.4
Greece-14.4-16.1-11.5-12.8-14.2-12.1-9.2-7.4-4.7-4.1
Portugal-2.4-5.6-6.6-3.5-6.0-6.1-5.8-4.0-2.9-2.9
Ireland-1.8-2.3-2.3-2.5-2.4-1.7-2.0-0.9-0.8-0.8
Luxembourg4.65.0-0.4-0.80.50.90.4-0.1-0.1-0.1
Switzerland0.8-2.1-3.5-3.7-2.8-1.8-2.2-2.9-2.5
Norway1.82.60.1-1.7-1.40.43.35.96.77.7
Israel-5.9-4.8-4.8-3.4-3.0-1.9-3.4-5.1-3.8-3.5
Iceland-4.6-3.3-2.9-2.8-4.5-4.7-3.0-1.5-0.8-0.6
Korea50.2-0.6-1.6-2.6-1.01.0
Australia61.50.5-2.2-4.4-4.5-3.4-2.1-1.2-0.70.1
Taiwan Province of China3.60.80.50.30.60.20.40.20.20.2
Hong Kong, China2.10.73.22.52.31.3-0.31.32.01.6
Singapore9.911.410.311.314.313.712.08.48.35.1
New Zealand7-1.8-2.3-2.3-4.6-0.72.23.72.91.71.2
Memorandum
Industrial countries-1.32.2-2.8-3.9-4.5-3.7-3.5-2.8-1.6-1.3
European Union-2.4-3.7-4.3-5.1-6.4-5.8-5.2-4.3-2.8-2.3
Newly industrialized Asian economies2.20.70.4-0.20.91.60.80.80.80.6
Fiscal balance excluding social security transactions
United States-4.3-5.2-5.5-6.3-5.3-4.1-3.9-3.5-3.0-3.0
Japan-0.7-0.6-0.8-2.0-4.8-5.1-6.5-7.2-5.3-4.8
Germany2-0.6-2.9-4.0-2.8-3.7-2.6-3.2-3.2-3.2-3.0
France-1.5-1.6-1.8-3.2-4.4-4.8-4.2-3.4-2.7-2.8
Italy4-4.7-5.8-5.0-4.0-5.4-4.9-2.6-2.11.31.4
Canada-1.3-2.4-4.8-5.3-5.0-3.0-1.90.52.43.0
Central government fiscal balance
Advanced economies-2.1-2.6-3.0-4.0-4.2-3.5-3.2-2.6-1.6-1.4
Major industrial countries-2.3-2.8-3.0-4.2-4.3-3.6-3.3-2.8-1.7-1.5
United States8-2.4-3.0-3.5-4.7-3.9-2.7-2.3-1.4-0.6-0.6
Japan9-1.2-0.5-0.2-1.7-2.7-3.5-4.1-4.2-3.4-2.9
Germany2,10-0.9-2.0-1.9-1.3-2.1-1.5-1.5-2.2-1.9-1.6
France10-1.4-1.6-1.6-2.9-4.2-4.6-4.0-3.5-2.8-3.0
Italy-10.7-10.2-10.3-10.4-10.0-9.2-7.1-6.9-3.6-3.4
United Kingdom1.2-1.1-2.3-7.0-8.0-6.8-5.44.9-2.3-0.9
Canada-3.2-3.9-4.5-4.2-4.9-3.8-3.4-2.0-0.10.4
Other advanced economies-1.2-1.6-2.6-3.1-4.0-3.1-2.7-1.7-1.2-0.9
Memorandum
Industrial countries-2.3-2.7-3.1-4.2-4.5-3.8-3.4-2.8-1.8-1.5
European Union-2.9-3.5-3.8-4.8-5.9-5.2-4.5-4.0-2.6-2.2
Newly industrialized Asian economies1.51.2-0.3-0.30.40.90.80.60.80.5
Table A16.Advanced Economies: General Government Structural Balances1(In percent of potential GDP)
1989199019911992199319941995199619971998
Structural balance2
Advanced economies-2.5-3.4-3.2-3.6-3.4-2.8-2.6-2.0-0.9-0.8
Major industrial countries-2.5-3.4-3.1-3.5-3.3-2.7-2.6-2.1-0.9-0.8
United States-2.9-3.6-3.0-4.1-3.3-2.3-1.9-1.1-0.8-0.8
Japan1.41.41.51.0-1.1-1.1-2.0-3.2-1.0-0.5
Germany3-3.2-5.4-4.0-2.5-1.3-2.2-1.7-1.2-1.2
France-2.4-2.9-2.4-3.4-3.1-3.5-3.1-1.8-0.9-1.3
Italy-11.3-12.6-11.0-9.6-8.5-8.2-6.1-5.4-1.7-1.6
United Kingdom-2.0-3.7-2.7-3.9-4.4-4.1-4.0-3.8-1.5-0.4
Canada-5.1-4.9-4.9-4.8-4.6-3.6-2.71.31.4
Other advanced economies-2.8-3.9-4.2-4.0-3.7-3.3-3.1-1.4-0.9-0.8
Spain-5.0-6.7-7.2-4.8-5.0-4.3-5.0-2.7-2.0-2.1
Netherlands-2.9-4.5-2.3-3.2-1.3-1.9-2.4-1.1-1.5-2.0
Belgium-6.9-6.8-7.3-7.5-5.6-3.7-2.8-1.9-1.6-1.8
Sweden1.50.2-2.9-6.5-7.0-7.0-6.5-0.8-0.40.8
Austria-2.9-2.6-3.1-2.0-3.0-4.2-4.6-2.5-0.9-1.1
Denmark0.1-0.8-1.3-0.8-1.0-1.6-1.6-1.10.40.3
Finland2.82.71.41.21.21.30.90.81.4
Greece-15.4-16.2-12.0-12.9-13.1-10.9-8.0-6.5-4.4-4.4
Portugal-3.6-7.4-8.1-4.8-5.6-4.8-4.4-3.0-2.2-2.5
Ireland-1.8-3.7-1.9-1.10.4-1.7-0.8-0.7-0.7
Norway3.45.03.01.31.32.14.26.26.47.0
Australia40.5-1.1-2.6-2.8-2.6-1.6-0.9-0.40.3
New Zealand5-4.3-7.2-4.8-2.00.52.13.32.92.51.6
Memorandum
European Union6-3.7-5.2-5.3-4.9-4.4-4.0-3.8-2.8-1.3-1.2
Table A17.Advanced Economics: Monetary Aggregates

(Annual percent change)1

19891990199119921993199419951996
Narrow money2
Advanced economies4.06.87.18.28.84.25.34.1
Major industrial commies3.16.56.68.38.43.74.73.4
United States0.54.17.914.410.62.5-1.6-4.6
Japan2.44.59.53.97.04.213.19.7
Germany35.629.63.410.88.55.26.812.4
France7.73.9-4.70.21.42.87.70.5
Italy10.36.610.50.77.63.31.23.4
United Kingdom5.72.73.02.86.06.85.66.9
Canada3.3-0.95.55.714.66.95.917.2
Other advanced economies9.88.110.27.211.26.98.68.0
Memorandum
Industrial countries3.66.76.68.08.53.95.04.1
European Union7.511.74.03.76.54.56.27.1
Newly industrialized Asian economies13.24.425.412.817.611.211.74.4
Broad money4
Advanced economies9.48.25.83.23.92.54.45.0
Major industrial countries8.57.63.62.22.81.73.84.2
United States5.24.13.11.81.30.64.04.7
Japan12.07.42.3-0.22.22.83.33.2
Germany35.519.76.37.610.91.63.68.7
France9.99.02.05.1-2.91.84.6-3.3
Italy7.36.15.80.13.81.0-2.03.1
United Kingdom18.912.25.62.74.94.09.99.6
Canada14.58.24.53.13.22.74.02.3
Other advanced economies14.611.217.47.89.66.77.68.8
Memorandum
Industrial countries9.28.05.42.73.52.01.14.7
European Union10.311.69.54.76.02.24.45.5
Newly industrialized Asian economies18.614.920.316.115.517.012.811.5
Table A18.Advanced Economies: Interest Rates(In percent a year)
August
198919901991199219931994199519961997
Policy-related interest rate1
Major industrial countries8.99.17.76.34.74.55.44.44.3
United States9.28.15.73.53.04.25.95.45.6
Japan4.97.27.54.63.02.11.20.40.4
Germany6.68.08.99.47.45.34.53.23.0
France9.410.09.510.78.65.66.33.73.2
Italy12.612.312.714.510.58.810.78.36.5
United Kingdom13.914.811.59.45.95.56.76.07.0
Canada11.912.99.06.64.6