Table A1. Summary of World Output: (Annual Percent Change)

WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES
Table A1. Summary of World Output1

(Annual percent change)
World
Advanced Economies
United States
Euro Area
Japan
Other Advanced Economies2
Emerging Market and Developing Economies
Regional Groups
Commonwealth of Independent States3
Emerging and Developing Asia
Emerging and Developing Europe
Latin America and the Caribbean
Middle East, North Africa, Afghanistan, and
Pakistan
Middle East and North Africa
Sub-Saharan Africa
Memorandum
European Union
Low-Income Developing Countries
Analytical Groups
By Source of Export Earnings
Fuel
Nonfuel
Of Which, Primary Products
By External Financing Source
Net Debtor Economies
Net Debtor Economies by
Debt-Servicing Experience
Economies with Arrears and/or
Rescheduling during 201115
Memorandum
Median Growth Rate
Advanced Economies
Output per Capita
Advanced Economies
World Growth Rate Based on Market Exchange
Rates
Value of World Output (billions of U.S. dollars)
At Market Exchange Rates
At Purchasing Power Parities
Average
19982007
2008
2009
2010
2011
2012
2013
2014
2015
2016
4.2
2.8
3.0
2.4
1.0
3.6
5.8
3.0
0.1
0.3
0.4
1.0
1.0
5.8
0.1
3.4
2.8
4.5
5.5
2.0
2.9
5.4
3.1
2.5
2.1
4.7
4.6
7.5
4.2
1.7
1.6
1.5
0.5
2.9
6.3
3.5
1.2
2.2
0.9
1.7
1.9
5.3
3.3
1.2
1.7
0.3
1.4
2.2
5.0
3.4
1.9
2.4
1.1
0.0
2.8
4.6
3.2
2.1
2.6
2.0
0.5
1.9
4.0
3.1
1.6
1.6
1.7
0.5
1.9
4.2
3.4
1.8
2.2
1.5
0.6
1.9
4.6
3.8
1.7
1.6
1.5
0.6
2.3
5.1
6.2
7.6
4.2
3.1
5.3
7.2
3.1
4.0
6.3
7.5
3.0
1.8
4.7
9.6
4.7
6.1
4.7
7.9
5.4
4.6
3.5
7.0
1.2
3.0
2.1
7.0
2.8
2.9
1.1
6.8
2.8
1.0
2.8
6.6
3.6
0.0
0.3
6.5
3.3
0.6
1.4
6.3
3.1
1.6
2.4
6.4
3.2
2.7
5.3
5.3
5.2
4.8
4.8
5.9
1.5
1.5
3.9
4.9
5.2
7.0
4.5
4.6
5.0
5.0
5.1
4.3
2.4
2.2
5.2
2.7
2.6
5.1
2.3
2.1
3.4
3.4
3.2
1.4
3.4
3.2
2.9
3.9
3.6
4.2
2.7
6.0
0.6
5.7
4.3
5.7
2.1
7.4
1.7
5.3
0.4
5.2
0.3
6.2
1.6
6.0
2.3
4.6
1.9
3.7
1.7
4.9
1.7
5.4
5.6
5.9
3.8
5.1
6.0
4.1
1.5
4.2
0.8
5.2
8.1
6.8
5.0
6.6
4.8
4.8
5.4
2.6
2.5
5.6
4.0
2.3
5.2
1.6
0.0
5.0
2.8
0.8
5.0
1.1
1.8
5.3
2.8
2.7
5.6
3.7
4.7
4.5
2.3
6.9
5.1
4.3
4.6
4.2
3.8
3.9
4.6
5.4
5.6
5.1
0.1
3.8
2.3
1.9
2.5
0.7
0.1
2.6
3.5
5.0
3.5
4.6
4.7
0.8
4.9
5.6
3.8
1.7
3.8
2.3
4.5
6.2
2.0
4.5
5.6
1.1
4.0
5.2
1.4
4.0
5.4
2.2
3.7
5.0
1.6
3.1
4.4
1.7
3.0
3.9
1.9
3.5
4.5
2.0
4.0
5.4
2.1
4.4
3.8
0.6
4.3
3.6
4.0
1.7
3.6
2.5
6.3
5.3
1.2
5.1
4.1
0.7
4.0
2.8
0.7
3.8
4.0
1.2
3.5
3.9
1.5
3.0
2.6
1.0
3.1
1.7
1.3
3.6
2.9
1.2
4.2
3.5
3.2
1.5
2.1
4.2
3.0
2.5
2.5
2.7
2.6
2.4
2.8
3.0
40,468
58,618
63,422
83,179
60,048 65,643 72,769 74,092 76,075 78,042 73,599 75,213 79,536

83,479 88,997 94,486 99,270 104,153 109,554 114,137 119,097 125,774
98,632
158,562
1Real
Projections
2017
2021
GDP.
the United States, euro area countries, and Japan.
3Georgia, 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.
2Excludes
228
International Monetary Fund | October 2016
STATISTICAL APPENDIX
Table A2. Advanced Economies: Real GDP and Total Domestic Demand1
Average
19982007 2008 2009
Real GDP
Advanced Economies
United States
Euro Area
Germany
France
Italy
Spain
Netherlands
Belgium
Austria
Greece
Portugal
Ireland
Finland
Slovak Republic
Lithuania
Slovenia
Luxembourg
Latvia
Estonia
Cyprus
Malta
Japan
United Kingdom
Korea
Canada
Australia
Taiwan Province of China
Switzerland
Sweden
Singapore
Hong Kong SAR
Norway
Czech Republic
Israel
Denmark
New Zealand
Puerto Rico
Macao SAR
Iceland
San Marino
Memorandum
Major Advanced Economies
Real Total Domestic Demand
Advanced Economies
United States
Euro Area
Germany
France
Italy
Spain
Japan
United Kingdom
Canada
Memorandum
2010
2011 2012
2013
Projections
2014 2015 2016 2017 2021
1.9
2.1
2.4
2.6
1.1
2.0
1.6
1.5
0.6
1.3
0.3
0.8
1.4
3.2
1.4
2.0
1.3
1.4
0.4
0.9
0.7 0.2
0.9
1.5
8.5 26.3
0.7
0.2
2.5
3.6
3.0
1.6
3.1
2.3
4.1
4.8
2.0
2.7
2.9
1.1
2.5
1.5
3.5
6.2
0.0
0.5
3.1
2.2
3.3
2.6
2.5
1.1
2.7
2.4
3.9
0.6
1.9
0.8
2.3
4.2
3.3
2.0
2.7
2.4
2.2
1.6
2.7
4.5
3.2
2.5
1.3
1.0
3.0
3.0
1.4
0.0
0.9 20.3
2.0
4.0
1.0
0.5
2.8
3.0
2.4
1.7
2.4
1.5
3.9
2.8
2.4
2.6
3.9
2.1
6.6
3.8
4.9
6.6
4.3
5.1
7.7
6.7
4.3
2.2
1.0
2.9
4.8
3.2
3.6
5.0
2.4
3.5
5.5
3.8
2.4
3.7
3.8
2.0
3.5
2.5
...
5.0
...
0.1
0.3
0.4
0.8
0.2
1.1
1.1
1.7
0.7
1.5
0.3
0.2
4.4
0.7
5.7
2.6
3.3
0.8
3.6
5.4
3.7
3.3
1.0
0.6
2.8
1.0
2.6
0.7
2.2
0.6
1.8
2.1
0.4
2.7
3.0
0.7
0.4
1.8
3.4
1.5
1.7
3.4
2.8
4.5
5.6
2.9
5.5
3.6
3.8
2.3
3.8
4.3
3.0
4.6
8.3
5.5
14.8
7.8
5.4
14.3
14.7
2.0
2.4
5.5
4.3
0.7
2.9
1.8
1.6
2.1
5.2
0.6
2.5
1.6
4.8
1.4
5.1
0.3
2.0
1.3
4.7
12.8
3.1
2.5
2.1
4.0
2.0
1.7
0.0
1.4
2.7
1.9
5.5
1.9
2.0
3.0
5.1
1.6
1.2
5.7
3.8
2.5
1.4
3.5
4.7
1.9
6.5
3.1
2.3
10.6
2.9
6.0
15.2
6.8
0.6
2.3
5.7
1.6
2.0
0.4
25.3
3.6
4.6
1.7
1.6
1.5
3.7
2.1
0.6
1.0
1.7
1.8
2.8
9.1
1.8
0.0
2.6
2.8
6.0
0.6
2.6
6.2
7.6
0.4
1.8
0.5
1.5
3.7
3.1
2.7
3.8
1.9
2.7
6.2
4.8
1.0
2.0
5.1
1.2
1.8
0.4
21.7
2.0
9.5
1.2
2.2
0.9
0.7
0.2
2.8
2.6
1.1
0.2
0.8
7.3
4.0
1.1
1.4
1.5
3.8
2.7
0.8
4.0
5.2
2.4
2.8
1.7
1.3
2.3
1.7
3.6
2.1
1.1
0.3
3.7
1.7
2.7
0.8
2.4
0.1
2.8
0.0
9.2
1.2
7.5
1.2
1.7
0.3
0.6
0.6
1.7
1.7
0.2
0.0
0.3
3.2
1.1
1.1
0.8
1.4
3.5
1.1
4.3
2.9
1.6
6.0
4.5
1.4
1.9
2.9
2.2
2.0
2.2
1.8
1.2
4.7
3.1
1.0
0.5
4.4
0.2
1.7
0.3
11.2
4.4
3.0
2.4
0.3
3.8
2.9
1.6
1.4
1.3
1.7
2.8
3.4
2.4
1.0
2.7
1.8
4.9
0.6
3.4
3.4
3.4
0.3
1.3
0.3
1.0
0.5
1.2
0.4
1.3
1.7
2.6
1.5
3.7
3.8
4.0
3.2
2.5
4.1
6.0
4.0
4.9
3.0
2.7
3.0
2.9
1.5
2.9
2.1
2.0
0.5
2.9
2.5
5.1
6.1
1.4
1.6
0.7
3.0
2.0
0.6
3.1
0.4
0.6
3.4
3.1
0.8
2.1
2.3
0.8
0.3
5.6
4.7
2.6
2.2
2.0
2.0
0.9
1.3
0.6
1.0
0.7
2.6
3.1
1.7
2.1
1.9
1.4
2.5
0.8
3.7
2.8
1.4
1.2
1.1
Fourth Quarter2
Projections
2015:Q4 2016:Q4 2017:Q4
1.6
1.6
1.7
1.7
1.3
0.8
3.1
1.7
1.4
1.4
0.1
1.0
4.9
0.9
3.4
2.6
2.3
3.5
2.5
1.5
2.8
4.1
0.5
1.8
2.7
1.2
2.9
1.0
1.0
3.6
1.7
1.4
0.8
2.5
2.8
1.0
2.8
1.8
4.7
4.9
1.0
1.8
2.2
1.5
1.4
1.3
0.9
2.2
1.6
1.4
1.2
2.8
1.1
3.2
1.1
3.3
3.0
1.8
3.1
3.4
2.5
2.2
3.4
0.6
1.1
3.0
1.9
2.7
1.7
1.3
2.6
2.2
1.9
1.2
2.7
3.0
1.4
2.7
1.4
0.2
3.8
1.2
1.7
1.6
1.5
1.2
1.8
0.8
1.6
1.6
1.5
1.1
1.8
1.2
2.8
1.6
3.7
3.3
1.5
3.0
4.0
3.3
2.0
3.0
0.6
1.9
3.0
1.9
2.8
2.7
1.7
2.0
2.6
2.9
2.1
2.2
2.9
1.8
2.6
0.5
2.6
2.6
1.3
1.8
1.9
2.0
1.3
1.3
1.1
3.5
1.1
1.5
1.1
0.8
1.3
27.4
0.6
4.0
2.1
2.1
3.6
2.3
1.0
2.8
6.2
0.8
1.8
3.1
0.3
2.8
0.7
0.3
4.8
1.7
2.0
0.2
4.0
2.3
0.1
2.9
...
...
2.7
...
1.7
2.0
1.6
1.7
1.3
0.7
2.6
2.0
1.3
1.4
0.7
1.2
5.7
1.1
3.1
3.2
2.9
2.3
6.3
1.9
2.8
3.3
0.8
1.4
2.5
1.5
2.5
1.3
1.2
3.4
1.0
1.7
0.7
2.3
2.8
2.4
2.2
...
...
7.6
...
1.8
1.9
1.6
1.6
1.5
1.2
2.1
1.7
1.4
1.0
3.7
1.1
6.0
0.9
3.3
2.4
0.8
3.7
2.1
2.7
2.2
3.3
0.8
0.8
3.1
1.9
3.3
2.1
1.2
1.2
2.7
1.8
2.3
2.4
3.0
1.4
3.3
...
...
3.3
...
1.9
1.4
1.7
1.5
1.5
1.6
1.6
1.9
2.4
1.1
1.5
1.1
0.4
1.6
0.0
3.4
1.3
2.5
2.2
3.2
1.9
1.4
1.5
1.1
3.8
0.1
2.5
0.0
2.1
1.7
1.8
1.8
1.9
1.7
1.0
3.0
0.6
1.8
1.5
1.7
2.0
2.5
1.6
1.7
1.3
1.0
2.1
0.8
0.1
2.1
2.6
1.7
1.6
1.5
1.6
1.8
0.7
1.5
0.7
2.1
2.0
2.8
2.1
2.5
2.3
2.0
2.2
1.8
4.3
0.9
1.9
1.4
2.3
1.8
2.3
1.4
1.4
0.8
0.7
2.6
1.0
1.3
3.1
1.3
2.0
2.1
1.6
1.8
1.9
1.6
1.9
0.9
0.2
1.7
3.4
1.7
2.2
1.6
1.8
1.5
1.9
1.8
1.7
1In
this and other tables, when countries are not listed alphabetically, they are ordered on the basis of economic size.
the fourth quarter of the preceding year.
3Excludes the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and euro area countries.
2From
229
Table A3. Advanced Economies: Components of Real GDP

Averages
19982007 200817
Private Consumer Expenditure
Advanced Economies
United States
Euro Area
Germany
France
Italy
Spain
Japan
United Kingdom
Canada
Memorandum
Public Consumption
Advanced Economies
United States
Euro Area
Germany
France
Italy
Spain
Japan
United Kingdom
Canada
Memorandum
Gross Fixed Capital Formation
Advanced Economies
United States
Euro Area
Germany
France
Italy
Spain
Japan
United Kingdom
Canada
Memorandum
230
2008
2009
2010
2011
2012
2013
2014
2015
Projections
2016
2017
2.9
3.7
2.1
0.9
2.7
1.4
3.9
0.9
3.5
3.5
3.5
1.2
1.7
0.4
1.0
0.8
0.4
0.3
0.5
0.8
2.2
2.2
0.1
0.3
0.3
0.5
0.4
1.1
0.7
0.9
0.7
2.9
1.1
1.2
1.6
1.1
0.3
0.2
1.5
3.6
0.7
3.2
0.0
0.0
1.9
1.9
0.8
0.3
1.8
1.2
0.3
2.8
0.6
3.6
3.7
1.4
2.3
0.0
1.3
0.5
0.0
2.4
0.3
0.5
2.3
3.0
1.0
1.5
1.1
1.3
0.2
4.0
3.5
2.3
1.7
1.9
2.2
1.1
1.5
0.6
0.9
0.5
2.4
3.1
1.7
1.6
2.4
2.2
1.8
2.9
0.8
1.0
0.7
0.6
1.2
0.9
2.2
2.5
2.3
2.2
3.2
1.8
1.9
1.5
0.9
3.1
1.2
2.5
1.9
2.6
2.2
2.9
1.6
1.5
1.6
1.0
3.3
0.5
2.7
2.2
2.3
2.1
2.7
1.5
1.5
1.4
1.0
2.3
1.2
0.8
2.0
2.6
2.7
1.2
0.2
1.2
1.8
1.4
1.1
1.2
1.8
2.1
2.2
2.0
2.2
2.0
1.9
0.9
1.4
1.4
4.9
2.1
3.2
2.4
2.8
1.0
0.3
1.0
2.0
1.4
0.2
0.7
1.1
1.1
1.6
2.5
2.3
2.5
2.4
3.4
1.1
1.0
5.9
0.1
2.1
3.8
2.9
3.0
3.7
2.4
3.0
2.4
0.4
4.1
2.3
1.1
2.7
3.4
0.9
0.1
0.8
1.3
1.3
0.6
1.5
1.9
0.2
2.3
2.8
0.6
2.7
0.1
0.9
1.0
1.8
0.3
1.2
0.2
1.3
1.5
0.1
0.9
0.3
1.0
1.6
1.4
4.5
1.7
1.7
0.7
2.0
0.3
2.4
0.2
1.2
1.5
0.3
2.8
1.9
0.3
0.3
2.2
0.4
0.7
0.6
1.2
1.2
1.0
0.0
0.1
2.3
0.3
2.3
1.6
1.6
1.4
2.8
1.4
0.7
2.7
1.2
1.4
1.7
2.3
1.5
0.7
1.7
3.5
1.4
0.6
0.9
1.7
0.8
1.6
3.1
1.0
0.8
1.1
1.9
1.0
0.5
0.4
0.8
0.6
1.9
2.2
1.9
0.8
2.1
2.9
0.7
1.0
0.1
0.7
0.0
1.5
1.2
0.8
3.1
3.7
3.3
1.3
3.9
3.0
6.9
1.1
3.3
5.1
3.7
0.3
0.7
0.7
1.0
0.0
3.2
2.7
0.5
0.2
0.5
1.7
2.7
4.8
0.7
0.8
0.8
3.1
3.9
4.1
6.5
1.5
0.1
11.1
13.1
11.2
9.9
9.1
9.9
16.9
10.6
15.2
11.8
5.1
1.8
1.1
0.3
5.0
2.1
0.5
4.9
0.2
5.0
11.4
6.0
2.9
3.7
1.6
7.4
2.1
1.9
6.9
1.4
1.9
4.6
4.0
2.4
6.3
3.3
0.1
0.2
9.3
7.1
3.4
2.3
4.9
2.9
1.2
3.1
2.4
1.1
0.8
6.6
2.5
2.5
3.2
0.4
2.4
2.9
4.2
1.5
3.5
0.3
3.4
3.5
1.3
6.7
0.7
2.1
2.5
3.7
3.1
1.2
1.0
0.8
6.4
0.0
3.3
4.4
1.1
1.4
1.1
2.9
2.2
2.4
1.4
4.2
0.5
1.0
1.4
1.2
2.4
3.0
2.5
1.5
1.7
1.8
3.0
1.6
2.0
1.1
2.6
2.7
0.2
3.4
12.0
2.0
3.2
3.4
1.5
3.0
2.2
1.1
2.0
Table A3. Advanced Economies: Components of Real GDP (continued)

Averages
19982007 200817
Final Domestic Demand
Advanced Economies
United States
Euro Area
Germany
France
Italy
Spain
Japan
United Kingdom
Canada
Memorandum
Stock Building2
Advanced Economies
United States
Euro Area
Germany
France
Italy
Spain
Japan
United Kingdom
Canada
Memorandum
Foreign Balance2
Advanced Economies
United States
Euro Area
Germany
France
Italy
Spain
Japan
United Kingdom
Canada
Memorandum
2008
2009
2010
2011
2012
2013
2014
2015
Projections
2016
2017
2.8
3.4
2.3
1.0
2.6
1.8
4.9
0.6
3.4
3.7
3.3
1.0
1.3
0.3
1.2
0.8
0.9
0.8
0.4
0.7
1.7
2.1
0.2
0.9
0.5
1.1
0.7
1.2
0.5
1.6
1.2
2.8
1.1
2.6
3.1
2.7
1.4
1.5
2.9
5.9
2.3
4.4
2.2
0.7
1.7
1.5
0.5
1.4
1.8
0.7
0.7
2.0
1.1
5.0
4.3
1.3
1.7
0.3
2.5
0.9
0.8
3.0
0.7
0.0
2.6
2.9
1.1
1.9
1.4
1.0
0.3
4.5
4.5
2.4
1.8
2.4
2.2
0.9
1.2
0.8
0.5
0.4
2.7
2.9
1.9
1.6
1.3
2.2
1.8
2.6
0.9
1.5
0.6
0.4
1.4
0.3
2.9
1.6
2.3
2.2
3.1
2.0
1.9
1.4
0.6
3.7
0.4
2.4
0.3
2.3
2.0
2.2
1.9
2.0
1.7
1.0
3.0
0.8
2.1
1.2
2.2
2.0
2.5
1.6
1.5
1.4
1.0
2.1
0.9
0.3
1.8
2.5
2.6
0.9
0.5
2.7
1.6
1.3
1.4
0.9
1.7
2.0
1.8
1.8
0.0
0.0
0.0
0.0
0.1
0.0
0.0
0.0
0.0
0.0
0.1
0.0
0.0
0.1
0.2
0.0
0.0
0.0
0.0
0.1
0.1
0.1
0.2
0.5
0.2
0.1
0.2
0.1
0.1
0.2
0.5
0.0
0.3
1.1
0.8
1.3
1.7
1.1
1.2
0.2
1.5
0.5
0.7
1.9
1.3
1.5
0.9
1.4
0.3
1.3
0.2
0.9
1.5
0.1
1.9
0.1
0.1
0.4
0.5
1.1
0.2
0.1
0.2
0.6
0.7
0.2
0.2
0.1
0.9
1.6
0.6
1.1
0.3
0.2
0.2
0.3
0.3
0.0
0.2
0.2
0.4
0.2
0.2
0.3
0.2
0.3
0.5
0.8
0.1
0.1
0.2
0.1
0.5
0.0
0.3
0.2
0.7
0.4
0.3
0.1
0.2
0.1
0.5
0.1
0.5
0.1
0.5
0.2
0.3
0.0
0.2
0.4
0.1
0.2
0.0
0.1
0.0
0.1
0.2
0.4
0.4
0.0
0.0
0.0
0.1
0.0
0.0
0.0
0.0
0.2
0.1
0.1
0.0
0.0
0.3
1.0
1.2
0.0
0.2
0.2
0.0
0.1
0.2
0.0
0.1
0.5
0.0
0.6
0.3
0.3
0.9
0.4
0.4
0.3
0.6
0.2
0.1
0.3
0.1
0.1
0.3
1.0
0.1
0.1
0.2
0.4
0.5
1.1
0.1
0.1
0.3
0.2
1.6
0.2
0.9
1.9
0.4
0.3
1.2
0.6
2.6
0.4
1.3
2.8
2.0
0.3
0.0
1.5
0.1
0.5
0.7
1.1
0.1
0.3
0.5
2.0
0.8
2.1
0.1
0.3
0.0
0.9
0.9
0.0
1.2
2.1
0.8
1.4
0.3
0.5
0.4
0.1
1.4
1.4
0.5
2.8
2.1
0.8
0.7
0.4
0.5
0.3
0.3
0.4
0.3
0.1
0.8
1.4
0.2
0.8
0.4
0.9
0.0
0.2
0.0
0.3
0.5
0.1
0.2
0.3
0.4
1.1
0.4
0.2
0.7
0.2
0.1
0.3
0.3
0.5
0.4
0.5
1.0
0.2
0.2
0.3
0.0
0.0
0.4
0.2
0.1
0.1
0.1
0.3
0.1
0.1
0.4
0.0
0.2
0.0
0.0
0.1
0.2
1.2
0.1
0.1
0.2
0.0
0.5
0.1
0.0
0.1
0.2
0.1
0.0
0.3
0.2
0.2
1Excludes
the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and euro area countries.
2Changes expressed as percent of GDP in the preceding period.
231
Table A4. Emerging Market and Developing Economies: Real GDP

Commonwealth of Independent States1,2

Russia
Excluding Russia
Armenia
Azerbaijan
Belarus
Georgia
Kazakhstan
Kyrgyz Republic
Moldova
Tajikistan
Turkmenistan
Ukraine3
Uzbekistan
Bangladesh
Bhutan
Brunei Darussalam
Cambodia
China
Fiji
India4
Indonesia
Kiribati
Lao P.D.R.
Malaysia
Maldives
Marshall Islands
Micronesia
Mongolia
Myanmar
Nepal
Palau
Papua New Guinea
Philippines
Samoa
Solomon Islands
Sri Lanka
Thailand
Timor-Leste5
Tonga
Tuvalu
Vanuatu
Vietnam
Albania
Bosnia and Herzegovina
Bulgaria
Croatia
Hungary
Kosovo
FYR Macedonia
Montenegro
Poland
Romania
Serbia
Turkey
232
Average
19982007
2008
2009
2010
2011
2012
2013
2014
2015
2016
6.2
5.8
7.5
10.4
14.1
7.3
6.7
8.1
4.2
3.4
7.9
14.4
5.8
5.6
7.6
5.7
7.8
2.0
9.3
9.9
2.3
7.1
2.7
1.9
6.3
4.2
8.8
1.8
1.0
5.7
12.0
3.8
...
2.6
4.2
3.7
1.1
4.3
3.8
...
1.2
...
2.5
6.8
4.2
7.0
6.2
5.3
3.7
3.7
...
3.4
...
4.2
4.0
3.8
4.0
5.3
5.2
5.6
6.9
10.8
10.3
2.4
3.3
7.6
7.8
7.9
14.7
2.2
9.0
7.2
5.5
10.8
2.0
6.7
9.6
1.0
3.9
7.4
1.8
7.8
4.8
12.7
1.7
2.2
7.8
3.6
6.1
5.6
3.6
4.2
2.9
7.1
6.0
1.7
14.2
2.7
8.0
6.5
5.7
3.1
7.5
5.6
5.6
2.1
0.8
4.5
5.5
6.9
3.9
8.5
5.4
0.7
6.3
7.8
2.4
14.1
9.3
0.1
3.7
1.2
2.9
6.0
3.9
6.1
15.1
8.1
7.5
5.3
5.7
1.8
0.1
9.2
1.4
8.5
4.7
0.3
7.5
1.5
5.3
6.2
1.0
2.1
5.1
4.5
9.1
2.9
1.1
6.4
4.7
3.5
0.7
13.0
3.0
4.4
3.3
5.4
3.0
3.4
0.8
4.2
7.4
6.6
3.6
0.4
5.7
2.6
7.1
3.1
4.8
4.7
4.5
5.1
2.2
5.0
7.7
6.2
7.3
0.5
7.1
6.5
9.2
0.3
8.5
9.6
6.0
9.3
2.7
6.0
10.6
3.0
10.3
6.4
1.6
8.1
7.5
7.2
1.3
3.5
7.3
5.3
4.8
3.3
11.6
7.6
1.4
6.9
8.0
7.5
10.2
3.2
2.7
1.6
6.4
4.7
3.7
0.8
0.1
1.7
0.7
3.3
3.4
2.5
3.7
0.8
0.6
9.2
4.7
4.0
6.2
4.7
0.1
5.5
7.2
7.5
6.0
6.8
7.4
14.7
5.5
8.3
7.9
6.5
9.7
3.7
7.1
9.5
2.7
6.6
6.2
0.5
8.0
5.3
8.7
4.0
1.8
17.3
5.6
3.4
5.0
3.7
3.7
5.4
12.9
8.4
0.8
8.3
1.8
8.5
1.2
6.2
5.4
2.5
0.9
1.6
0.3
1.8
4.4
2.3
3.2
5.0
1.1
1.4
8.8
3.5
3.5
3.6
7.1
2.2
1.7
6.4
5.0
0.9
0.7
7.5
11.1
0.2
8.2
7.0
6.3
6.4
0.9
7.3
7.9
1.4
5.6
6.0
5.2
7.9
5.5
2.5
1.9
0.5
12.3
7.3
4.8
3.2
6.1
6.7
0.4
4.7
9.1
7.2
5.8
1.1
0.2
1.8
5.2
1.2
1.4
0.9
0.2
2.2
1.7
2.8
0.5
2.7
1.6
0.6
1.0
2.1
2.1
1.3
4.3
3.3
5.8
1.0
3.4
6.0
10.9
9.4
7.4
10.2
0.0
8.0
7.0
6.0
3.6
2.1
7.4
7.8
4.7
6.6
5.6
5.8
8.0
4.7
4.7
1.1
3.6
11.6
8.4
4.1
2.4
4.7
7.1
1.9
3.0
3.4
2.7
2.9
0.6
1.3
2.0
5.4
2.8
1.0
2.4
1.3
1.1
1.9
3.4
2.9
3.5
1.3
3.5
2.6
4.2
1.1
0.7
2.0
3.6
2.8
1.7
4.6
4.3
4.0
4.8
6.7
10.3
6.6
8.1
6.8
6.3
3.8
2.3
7.1
7.3
5.3
7.2
5.0
2.4
7.5
6.0
6.5
0.4
3.4
7.9
8.7
6.0
4.2
7.4
6.2
1.2
2.0
4.9
0.8
5.9
2.9
2.2
2.3
6.0
2.8
1.8
1.1
1.5
0.4
3.7
1.2
3.5
1.8
3.3
3.0
1.8
3.0
2.8
3.7
0.5
3.0
1.1
3.9
2.8
1.2
3.5
0.5
6.0
6.5
9.9
8.0
6.6
6.8
5.2
0.6
7.0
6.9
4.3
7.6
4.8
3.5
7.6
5.0
1.5
1.4
0.2
2.4
7.0
2.7
9.4
6.6
5.9
1.6
3.3
4.8
2.8
4.3
3.4
2.6
0.8
6.7
3.6
2.8
3.2
3.0
1.6
2.9
4.0
3.7
3.2
3.6
3.8
0.7
4.0
0.3
0.8
0.9
3.2
2.4
3.0
3.4
0.8
2.2
2.0
6.0
5.4
1.5
6.0
6.5
6.9
6.0
0.4
7.0
6.6
2.5
7.6
4.9
3.1
7.5
4.3
3.0
1.7
1.1
0.0
8.1
0.6
0.0
2.5
6.4
3.0
3.0
5.0
3.2
5.0
2.7
4.0
4.0
6.1
3.3
3.4
3.0
3.0
1.9
2.0
4.1
2.2
5.1
3.1
5.0
2.5
3.3
Projections
2017
2021
1.4
1.1
2.3
3.4
1.4
0.5
5.2
0.6
2.3
3.0
4.5
5.4
2.5
6.0
6.3
6.9
6.4
3.9
6.9
6.2
3.9
7.6
5.3
2.5
7.3
4.6
4.1
1.8
0.7
1.0
7.7
4.0
5.0
3.0
6.7
1.5
3.3
5.0
3.3
5.5
2.4
2.3
4.5
6.2
3.1
3.7
3.2
2.8
2.1
2.5
3.3
3.5
3.6
3.4
3.8
2.8
3.0
2.4
1.5
4.4
4.0
3.2
1.8
4.8
4.6
4.3
3.8
6.0
6.9
4.0
6.0
6.4
6.5
5.2
13.2
6.3
5.8
3.6
8.1
6.0
1.8
7.1
5.0
4.7
1.3
0.6
5.5
7.7
3.8
2.0
3.4
7.0
2.1
3.2
5.5
3.0
5.5
1.8
2.1
3.0
6.2
3.2
4.1
4.0
2.5
2.0
2.1
4.0
3.8
4.8
3.0
3.3
4.0
3.5
Table A4. Emerging Market and Developing Economies: Real GDP (continued)

Antigua and Barbuda
Argentina6
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
Sudan7
Syria8
Tunisia
United Arab Emirates
Yemen
Average
19982007
2008
2009
2010
2011
2012
2013
2014
2015
2016
3.1
4.6
2.6
2.8
2.2
5.7
3.3
3.0
4.0
3.1
5.5
2.4
5.6
3.0
2.9
4.8
3.8
1.4
0.9
4.4
1.3
2.9
4.0
5.6
1.6
4.1
3.5
2.4
4.0
3.9
8.2
1.2
2.9
4.0
1.5
4.1
2.3
0.4
3.2
6.1
5.1
3.2
3.5
2.7
7.1
3.1
6.4
1.3
0.9
3.3
2.0
0.8
4.2
0.8
1.4
2.9
8.6
6.4
9.1
3.4
4.2
0.5
4.1
3.4
7.2
5.3
1.8
10.7
5.9
4.2
4.0
0.8
3.4
0.1
1.1
1.7
1.0
1.2
0.9
0.6
3.1
6.6
0.5
3.3
3.1
2.4
3.4
4.7
2.8
1.6
4.0
1.0
3.8
0.4
2.0
3.0
4.4
4.2
3.2
6.1
8.5
10.1
1.5
0.3
3.3
4.1
7.5
5.7
4.0
5.0
0.7
8.3
3.5
1.4
0.5
2.9
4.4
5.5
3.7
1.4
5.1
3.2
5.8
13.1
8.5
3.8
1.7
2.3
5.1
3.3
7.8
1.5
4.6
1.9
6.0
0.6
0.8
2.1
5.2
3.9
5.8
6.6
4.5
0.2
2.8
7.9
2.2
0.8
4.2
5.4
5.5
3.8
1.4
4.0
6.2
11.8
4.3
6.5
1.9
0.2
0.2
5.3
0.3
5.2
4.2
3.0
3.6
1.0
3.1
0.3
3.7
5.1
1.9
5.5
4.0
5.2
1.1
2.6
5.6
1.9
1.2
3.0
4.8
2.9
4.1
0.5
4.0
5.6
9.2
1.2
6.0
0.9
1.4
1.3
3.1
1.3
3.5
5.6
2.9
1.5
2.4
0.0
0.1
1.3
6.8
3.0
4.0
4.9
1.8
0.8
4.8
4.6
1.8
2.4
3.7
5.2
4.2
2.8
0.2
1.4
4.5
6.6
14.0
5.8
6.2
0.1
2.5
2.8
2.3
4.6
1.3
1.0
4.2
2.5
0.5
0.2
4.1
5.5
0.1
1.8
4.4
3.0
4.2
7.3
3.7
1.4
7.3
4.2
3.8
2.8
3.1
0.5
2.2
4.6
6.1
4.7
2.4
6.1
0.4
0.2
1.8
1.0
3.2
3.9
0.0
2.2
2.5
1.7
0.9
1.0
4.8
3.8
2.3
3.1
3.7
1.8
7.0
0.3
2.5
6.2
4.1
3.2
1.2
3.6
0.9
2.5
4.9
5.8
3.1
3.3
5.0
2.4
0.6
0.3
2.1
1.0
6.2
0.6
2.0
1.8
0.3
1.7
0.0
3.7
3.3
1.7
2.2
4.2
1.5
5.9
2.3
2.4
3.0
3.5
4.0
1.5
3.6
1.5
2.1
4.5
5.2
3.5
3.7
3.5
1.5
1.8
7.0
2.7
0.1
10.0
1.6
2.4
2.7
1.0
1.7
2.6
3.9
0.5
2.0
2.7
4.3
2.9
4.5
2.7
2.4
2.7
3.8
4.1
3.2
3.7
2.0
2.3
4.3
5.8
3.6
4.1
3.5
1.9
2.5
0.5
2.3
1.2
4.5
2.7
2.7
3.3
1.3
2.4
1.7
3.5
2.0
3.4
4.0
4.0
1.7
4.5
1.5
2.0
2.7
4.0
3.8
3.5
3.8
2.8
2.9
4.0
6.0
3.8
3.5
2.8
2.1
3.0
3.0
1.2
3.1
0.0
5.3
...
4.3
5.8
2.8
5.1
5.2
...
5.9
6.0
3.2
4.2
5.4
4.6
2.4
4.9
10.7
2.9
11.2
3.6
4.9
5.7
4.3
4.8
3.9
2.4
6.2
5.8
7.2
0.9
8.2
7.2
2.5
9.1
2.7
1.1
5.9
8.2
5.0
17.7
6.2
3.0
4.5
4.5
3.2
3.6
1.5
20.6
1.6
2.5
1.6
4.7
2.3
3.4
5.5
7.1
10.3
0.8
1.0
4.2
6.1
0.4
12.0
2.1
4.7
5.9
3.1
5.2
3.9
4.9
8.4
3.6
4.3
4.1
5.1
6.6
6.4
2.3
2.4
8.0
5.0
4.8
3.8
4.8
2.6
19.6
4.8
3.0
3.4
2.6
1.6
7.7
4.5
6.5
2.8
2.0
7.3
1.8
3.7
7.5
2.6
10.9
0.9
62.1
4.7
5.2
4.1
3.6
13.4
10.0
1.3
...
1.9
4.9
12.7
5.0
14.0
3.3
3.7
4.8
2.2
6.6
13.9
2.7
7.9
2.8
104.5
5.8
3.0
5.8
3.8
4.9
5.4
3.4
...
3.9
7.1
2.4
2.4
3.9
2.8
5.4
5.0
2.1
1.9
7.6
2.8
0.4
2.5
13.6
6.1
4.5
3.2
3.7
4.6
2.7
5.2
...
2.4
4.7
4.8
2.7
1.3
3.8
4.4
6.0
2.2
4.3
0.4
3.1
0.6
2.0
24.0
5.4
2.6
2.9
4.1
4.0
3.6
1.6
...
2.3
3.1
0.2
2.3
0.8
3.9
2.9
6.5
4.2
0.4
2.4
2.4
1.1
1.0
6.4
1.2
4.5
3.3
4.0
3.7
3.5
4.9
...
0.8
4.0
28.1
3.4
2.0
3.6
2.1
6.5
3.8
4.5
10.3
2.8
2.5
1.0
3.3
3.2
1.8
1.8
4.7
2.6
1.2
3.1
...
1.5
2.3
4.2
3.4
3.4
2.9
1.8
7.0
4.0
4.1
0.5
3.3
2.6
2.0
13.7
4.3
4.8
2.6
5.0
3.4
2.0
3.5
...
2.8
2.5
12.6
3.9
6.0
3.4
2.2
6.0
6.0
4.3
2.0
4.0
2.9
3.0
4.8
2.9
4.9
2.2
5.5
2.0
2.3
3.5
...
4.3
3.4
5.4
Projections
2017
2021
233
Table A4. Emerging Market and Developing Economies: Real GDP (continued)
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
Cte dIvoire
Equatorial Guinea
Eritrea
Ethiopia
Gabon
The Gambia
Ghana
Guinea
Guinea-Bissau
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
So Tom and Prncipe
Senegal
Seychelles
Sierra Leone
South Africa
South Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe9
Average
19982007
2008
2009
2010
2011
2012
2013
2014
2015
2016
5.2
10.3
4.4
4.7
5.9
3.1
7.5
3.8
1.4
8.2
2.0
1.4
3.3
0.8
27.6
0.7
6.5
0.1
3.8
4.9
3.1
0.6
3.6
3.2
...
3.7
3.1
5.2
4.4
8.3
4.2
4.7
7.0
7.7
3.8
4.6
2.6
12.0
3.7
...
3.5
5.9
1.1
7.1
5.5
...
5.9
13.8
4.9
6.2
5.8
4.9
6.7
2.9
2.1
3.1
1.0
6.2
5.6
2.5
17.8
9.8
11.2
1.7
5.7
9.1
4.9
3.2
0.2
5.1
6.0
7.2
7.6
4.8
5.5
6.9
2.6
9.6
7.2
11.1
8.1
3.7
2.1
5.4
3.2
...
4.3
5.6
2.4
10.4
7.8
16.6
3.9
2.4
2.3
7.7
3.0
3.8
1.3
1.9
1.7
4.2
1.8
2.9
7.5
3.3
1.3
3.9
10.0
2.3
6.4
4.8
0.3
3.3
3.3
4.5
5.1
4.7
8.3
4.7
3.0
6.4
0.3
0.7
8.4
6.3
4.0
2.4
1.1
3.2
1.5
...
1.9
5.4
3.5
8.1
9.2
7.5
7.0
3.4
2.1
8.6
8.4
5.1
1.5
3.3
3.0
13.6
2.1
7.1
8.7
2.0
8.9
2.2
10.6
6.3
6.5
7.9
1.9
4.4
8.4
6.9
6.1
0.3
6.9
5.4
4.1
6.7
6.0
8.4
11.3
7.3
4.5
4.3
5.9
5.3
3.0
...
1.4
6.4
4.1
7.7
10.3
11.4
5.0
3.9
3.0
6.0
6.6
4.0
4.0
4.1
3.3
0.1
2.2
6.9
3.4
4.2
6.5
8.7
11.4
7.1
4.3
14.0
3.8
9.4
6.1
4.5
7.4
1.5
4.9
3.2
3.9
7.1
5.1
2.2
4.9
7.8
4.8
1.9
5.4
6.3
3.3
...
1.2
7.9
4.8
6.8
5.6
11.9
4.3
5.2
4.6
4.5
6.5
4.4
1.1
4.6
4.1
8.9
3.0
7.1
3.8
10.1
8.3
7.0
8.7
5.3
5.6
9.3
3.7
1.8
4.6
5.3
8.2
3.0
1.9
0.8
3.2
7.2
5.1
11.8
4.3
8.8
4.5
4.5
3.7
15.2
2.2
52.4
3.0
5.1
5.9
2.6
7.6
10.6
5.2
6.8
6.9
9.9
6.6
5.9
0.8
5.6
36.7
5.7
3.5
8.5
3.3
9.3
4.1
3.1
9.9
5.6
4.8
7.3
2.3
0.8
5.7
3.6
8.7
2.3
5.2
2.3
3.2
7.1
5.7
5.3
5.4
4.7
4.0
3.6
5.0
20.7
2.3
29.3
2.9
7.3
5.4
4.0
5.1
4.5
5.1
4.8
6.5
3.2
4.0
4.5
1.9
5.9
1.0
6.9
2.0
9.5
6.8
7.9
0.5
5.0
10.3
4.3
0.2
4.0
1.1
2.5
5.3
3.4
0.7
3.3
5.7
7.0
3.6
7.4
6.5
7.0
6.3
7.0
4.5
4.3
6.2
4.6
1.6
2.9
2.5
7.0
5.4
4.9
5.0
3.8
3.4
3.0
5.0
0.3
4.0
4.0
1.5
5.8
4.8
1.8
1.0
6.9
2.3
8.5
7.4
4.8
10.2
4.0
4.4
3.9
0.1
4.8
5.6
2.8
0.0
3.1
2.9
6.0
3.5
6.6
5.3
3.5
2.7
6.9
4.0
6.5
5.7
21.1
1.3
0.2
1.7
7.0
5.4
4.8
3.0
1.1
1.4
0.0
4.6
3.1
5.2
0.5
3.6
4.8
5.2
1.1
2.2
3.9
1.7
8.0
9.9
3.7
6.5
3.2
2.3
3.3
3.8
4.8
6.0
2.4
2.0
4.1
2.7
5.3
3.5
4.5
4.2
5.2
1.7
6.0
4.0
6.6
4.9
4.3
0.1
13.1
0.5
7.2
5.3
4.9
3.0
0.3
Projections
2017
2021
2.9
1.5
5.4
4.0
5.9
2.0
4.0
4.2
5.5
1.7
3.3
4.2
5.0
8.0
5.8
3.3
7.5
4.5
3.3
7.4
4.4
5.0
6.1
3.8
4.0
4.5
4.5
5.2
3.9
5.5
5.3
5.0
0.6
6.0
5.0
6.8
3.5
5.0
0.8
6.1
0.9
7.2
5.0
5.5
4.0
2.5
4.2
3.5
5.6
4.0
6.0
4.5
4.0
4.3
5.8
3.5
4.0
5.5
2.9
7.0
0.1
3.9
7.3
4.9
5.5
4.5
4.7
5.0
6.5
2.9
6.6
5.0
5.5
4.7
3.9
6.8
4.5
6.9
3.3
7.5
6.0
7.0
3.3
6.5
2.2
0.5
1.0
6.5
4.4
6.4
5.5
1.6
1Data 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.
structure.
3Data 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.
4See country-specific notes for India in the Country Notes section of the Statistical Appendix.
5In this table only, the data for Timor-Leste are based on non-oil GDP.
6See country-specific notes for Argentina in the Country Notes section of the Statistical Appendix.
7Data for 2011 exclude South Sudan after July 9. Data for 2012 and onward pertain to the current Sudan.
8Data for Syria are excluded for 2011 onward owing to the uncertain political situation.
9The Zimbabwe dollar ceased circulating in early 2009. Data are based on IMF staff estimates of price and exchange rate developments in U.S. dollars. IMF staff estimates of U.S. dollar
values may differ from authorities estimates. Real GDP is in constant 2009 prices.
234
Table A5. Summary of Inflation

(Percent)
GDP Deflators
Advanced Economies
United States
Euro Area
Japan
Consumer Prices
Advanced Economies
United States
Euro Area2
Japan
Emerging Market and Developing Economies3
Regional Groups
Pakistan
Sub-Saharan Africa
Memorandum
European Union
Analytical Groups
Fuel
Nonfuel
Of Which, Primary Products5
Memorandum
Median Inflation Rate
Advanced Economies
Emerging Market and Developing Economies3
Average
19982007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Projections
2017
2021
1.7
2.2
1.9
1.2
2.0
1.9
2.0
2.0
1.3
3.0
0.7
0.8
1.0
0.5
0.9
0.9
1.2
0.7
2.2
2.0
1.3
2.1
1.1
1.9
2.0
1.2
1.8
1.3
0.9
1.2
1.2
1.6
1.3
0.6
1.4
1.4
1.8
0.8
1.7
1.3
1.2
1.1
1.2
2.0
0.9
1.0
1.3
1.0
0.6
0.7
1.5
2.1
1.0
0.4
1.6
1.8
2.2
1.5
0.9
2.1
2.0
2.6
2.0
0.2
1.9
7.9
3.4
3.8
3.3
1.4
3.9
9.2
0.2
0.3
0.3
1.4
1.4
5.0
1.5
1.6
1.6
0.7
2.4
5.6
2.7
3.1
2.7
0.3
3.3
7.1
2.0
2.1
2.5
0.1
2.1
5.8
1.4
1.5
1.3
0.3
1.7
5.5
1.4
1.6
0.4
2.8
1.5
4.7
0.3
0.1
0.0
0.8
0.6
4.7
0.8
1.2
0.3
0.2
1.0
4.5
1.7
2.3
1.1
0.5
1.9
4.4
2.0
2.3
1.7
1.3
2.1
4.0
19.7
4.2
18.5
7.0
15.4
7.6
8.0
6.4
11.1
2.8
4.8
4.6
7.2
5.1
5.6
4.2
9.7
6.5
5.4
5.2
6.2
4.6
5.9
4.6
6.4
4.6
4.3
4.6
8.1
3.5
3.8
4.9
15.5
2.7
2.9
5.5
8.4
3.1
3.1
5.8
6.3
3.3
4.2
4.2
4.8
3.7
4.3
3.6
5.8
5.7
10.2
11.8
11.7
12.9
7.3
6.1
9.8
6.6
6.2
8.2
9.2
8.6
9.4
9.8
9.7
9.3
9.1
9.3
6.6
6.8
6.6
6.3
5.8
6.0
7.0
5.1
5.4
11.3
6.0
6.1
10.8
4.3
4.1
7.9
2.6
9.4
3.7
14.6
1.0
8.2
2.0
9.2
3.1
11.7
2.6
9.9
1.5
8.0
0.5
7.3
0.0
7.3
0.3
8.9
1.3
9.1
1.8
7.1
12.2
6.7
...
12.6
8.2
...
7.6
4.3
...
6.5
5.4
...
8.3
6.8
...
7.8
5.3
...
7.7
4.9
...
6.3
4.3
...
8.6
3.8
...
7.4
3.8
...
6.2
4.0
...
4.7
3.9
...
9.1
9.4
7.2
6.8
7.7
7.0
6.3
5.7
5.5
5.6
5.7
4.8
9.0
15.4
13.0
10.2
10.6
8.2
7.1
11.2
16.8
10.1
14.1
6.5
2.1
4.9
4.1
10.3
0.9
3.7
1.9
4.2
3.2
5.4
2.6
4.6
1.3
4.0
0.7
3.2
0.1
2.7
0.5
3.0
1.2
3.5
2.0
3.5
1Excludes
the United States, euro area countries, and Japan.

on Eurostats harmonized index of consumer prices.
3Excludes Argentina and Venezuela. See country-specific notes for Argentina in the Country Notes section of the Statistical Appendix.
4Georgia, 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.
5Data are missing because of Argentina, which accounts for more than 30 percent of the weights of the group. See country-specific notes for Argentina in the Country Notes section of the Statistical
Appendix.
2Based
235
Table A6. Advanced Economies: Consumer Prices1

Advanced Economies
United States
Euro Area3
Germany
France
Italy
Spain
Netherlands
Belgium
Austria
Greece
Portugal
Ireland
Finland
Slovak Republic
Lithuania
Slovenia
Luxembourg
Latvia
Estonia
Cyprus3
Malta
Japan
United Kingdom3
Korea
Canada
Australia
Switzerland
Sweden
Singapore
Hong Kong SAR
Norway
Czech Republic
Israel
Denmark
New Zealand
Puerto Rico
Macao SAR
Iceland
San Marino
Memorandum
Average
19982007
2.0
2.6
2.0
1.5
1.7
2.3
3.0
2.3
1.9
1.7
3.3
2.9
3.3
1.5
6.4
2.2
5.6
2.5
4.6
4.4
2.5
2.5
0.2
1.6
3.2
2.1
2.8
0.9
0.8
1.5
0.7
0.8
1.9
3.3
2.3
2.1
2.2
2.3
...
4.2
...
1.9
2008
3.4
3.8
3.3
2.8
3.2
3.5
4.1
2.2
4.5
3.2
4.2
2.7
3.1
3.9
4.0
11.2
5.7
4.1
15.3
10.6
4.4
4.7
1.4
3.6
4.7
2.4
4.3
3.5
2.4
3.3
6.6
4.3
3.8
6.3
4.6
3.4
4.0
5.2
8.5
12.7
4.1
2009
0.2
0.3
0.3
0.2
0.1
0.8
0.3
1.0
0.0
0.4
1.3
0.9
1.7
1.6
0.9
4.2
0.9
0.0
3.3
0.2
0.2
1.8
1.4
2.2
2.8
0.3
1.8
0.9
0.5
1.9
0.6
0.6
2.2
1.0
3.3
1.3
2.1
0.3
1.2
12.0
2.4
2010
1.5
1.6
1.6
1.1
1.7
1.6
1.8
0.9
2.3
1.7
4.7
1.4
1.6
1.7
0.7
1.2
1.8
2.8
1.2
2.7
2.6
2.0
0.7
3.3
2.9
1.8
2.9
1.0
0.7
1.9
2.8
2.3
2.4
1.5
2.7
2.3
2.3
2.5
2.8
5.4
2.6
2011
2.7
3.1
2.7
2.5
2.3
2.9
3.2
2.5
3.4
3.5
3.1
3.6
1.2
3.3
4.1
4.1
1.8
3.7
4.2
5.1
3.5
2.5
0.3
4.5
4.0
2.9
3.4
1.4
0.2
1.4
5.2
5.3
1.3
1.9
3.5
2.8
4.0
2.9
5.8
4.0
2.0
2012
2.0
2.1
2.5
2.1
2.2
3.3
2.4
2.8
2.6
2.6
1.0
2.8
1.9
3.2
3.7
3.2
2.6
2.9
2.3
4.2
3.1
3.2
0.1
2.8
2.2
1.5
1.7
1.9
0.7
0.9
4.6
4.1
0.7
3.3
1.7
2.4
1.1
1.3
6.1
5.2
2.8
2013
1.4
1.5
1.3
1.6
1.0
1.2
1.4
2.6
1.2
2.1
0.9
0.4
0.5
2.2
1.5
1.2
1.8
1.7
0.0
3.2
0.4
1.0
0.3
2.6
1.3
0.9
2.5
0.8
0.2
0.4
2.4
4.3
2.1
1.4
1.5
0.8
1.1
1.1
5.5
3.9
1.3
2014
1.4
1.6
0.4
0.8
0.6
0.2
0.1
0.3
0.5
1.5
1.4
0.2
0.3
1.2
0.1
0.2
0.2
0.7
0.7
0.5
0.3
0.8
2.8
1.5
1.3
1.9
2.5
1.2
0.0
0.2
1.0
4.4
2.0
0.4
0.5
0.6
1.2
0.6
6.0
2.0
1.1
2015
0.3
0.1
0.0
0.1
0.1
0.1
0.5
0.2
0.6
0.8
1.1
0.5
0.0
0.2
0.3
0.7
0.5
0.1
0.2
0.1
1.5
1.2
0.8
0.1
0.7
1.1
1.5
0.3
1.1
0.7
0.5
3.0
2.2
0.3
0.6
0.5
0.3
0.8
4.6
1.6
0.14
3.2
0.1
1.4
2.6
1.9
1.3
1.5
0.2
1Movements
in consumer prices are shown as annual averages.

2Monthly year-over-year changes and, for several countries, on a quarterly basis.
3Based on Eurostats harmonized index of consumer prices.
236
Projections
2016 2017 2021
0.8
1.7
2.0
1.2
2.3
2.3
0.3
1.1
1.7
0.4
1.5
2.0
0.3
1.0
1.7
0.1
0.5
1.2
0.3
1.0
1.6
0.1
0.9
1.3
2.1
1.6
1.5
0.9
1.5
2.0
0.1
0.6
1.8
0.7
1.1
1.8
0.3
1.2
2.0
0.4
1.2
2.0
0.2
1.1
2.0
0.5
1.2
2.2
0.3
1.0
2.0
0.2
1.0
2.1
0.2
1.7
2.0
0.5
1.4
2.2
1.0
0.5
1.9
1.2
1.5
1.8
0.2
0.5
1.3
0.7
2.5
2.0
1.0
1.9
2.0
1.6
2.1
2.0
1.3
2.1
2.5
1.1
1.1
2.2
0.4
0.0
1.0
1.1
1.4
2.1
0.3
1.1
1.9
2.5
2.6
3.0
3.2
2.3
2.5
0.6
1.9
2.0
0.6
0.8
2.0
0.4
1.1
2.0
0.7
1.6
2.0
0.2
1.1
1.2
2.6
2.8
2.8
1.7
3.1
2.5
0.6
0.7
1.2
0.8
1.8
2.0
End of Period2
Projections
2015 2016 2017
0.5
1.2
1.8
0.7
1.8
2.6
0.2
0.6
1.0
0.3
1.2
1.6
0.3
0.0
0.2
0.1
0.6
0.8
0.0
0.7
0.7
0.2
0.5
1.0
1.5
2.5
1.2
1.1
1.2
1.3
0.4
0.1
1.1
0.3
2.4
0.0
0.0
0.7
1.3
0.2
0.9
1.4
0.5
0.3
1.4
0.2
0.5
2.2
0.4
0.3
0.8
0.9
1.8
1.0
0.4
0.3
1.8
0.2
0.9
2.3
0.5
0.0
0.5
1.3
1.8
1.5
0.2
0.1
0.7
0.1
1.5
2.5
1.3
1.3
2.2
1.3
1.8
2.1
1.7
1.6
2.0
0.1
0.6
1.1
1.3
0.0
0.2
0.7
1.2
1.6
0.7
0.5
1.4
3.0
2.5
2.6
2.3
3.0
2.5
0.1
1.1
2.2
1.0
0.1
1.2
0.4
0.4
1.1
0.1
1.4
1.7
0.2
0.2
1.1
3.7
2.6
2.8
2.0
2.2
3.5
0.4
0.9
1.1
0.5
1.2
1.9
Table A7. Emerging Market and Developing Economies: Consumer Prices1

Commonwealth of Independent States3,4

Russia
Excluding Russia
Armenia
Azerbaijan
Belarus
Georgia
Kazakhstan
Kyrgyz Republic
Moldova
Tajikistan
Turkmenistan
Ukraine5
Uzbekistan
Bangladesh
Bhutan
Brunei Darussalam
Cambodia
China
Fiji
India
Indonesia
Kiribati
Lao P.D.R.
Malaysia
Maldives
Marshall Islands
Micronesia
Mongolia
Myanmar
Nepal
Palau
Papua New Guinea
Philippines
Samoa
Solomon Islands
Sri Lanka
Thailand
Timor-Leste
Tonga
Tuvalu
Vanuatu
Vietnam
Albania
Bulgaria6
Croatia
Hungary
Kosovo
FYR Macedonia
Montenegro
Poland
Romania
Serbia
Turkey
Average
19982007
2008
2009
2010
2011
2012
2013
2014
19.7
21.2
15.3
3.2
3.8
55.3
7.3
8.3
9.7
15.0
20.2
10.4
12.1
18.9
4.2
5.7
5.1
0.2
3.8
1.1
3.0
5.2
14.1
1.8
24.0
2.4
1.8
...
2.0
7.3
23.4
5.5
...
8.6
5.2
4.5
8.7
9.8
2.8
...
7.6
...
2.5
4.9
18.5
4.1
2.4
7.3
3.4
7.5
...
1.9
...
4.6
24.2
25.3
33.9
15.4
14.1
19.3
9.0
20.8
14.8
10.0
17.1
24.5
12.7
20.4
14.5
25.2
13.1
7.6
8.9
6.8
2.1
25.0
5.9
7.7
9.2
9.8
13.7
7.6
5.4
12.0
14.7
6.6
26.8
11.5
6.7
9.9
10.8
8.2
11.6
17.3
22.4
5.5
7.4
7.5
10.4
4.8
23.1
8.0
3.4
7.4
12.0
6.1
6.0
9.4
7.2
9.0
4.2
7.8
12.4
10.4
11.1
11.7
9.5
3.5
1.6
13.0
1.7
7.3
6.8
0.0
6.4
2.7
15.9
12.3
2.8
4.9
6.3
1.0
0.7
0.7
3.7
10.6
5.0
9.8
0.0
0.6
4.5
0.5
7.7
6.3
2.2
12.6
4.7
6.9
4.2
6.3
7.1
3.5
0.9
0.2
3.5
0.3
4.3
6.7
4.8
2.3
0.4
2.5
2.4
4.2
2.4
0.6
3.6
3.4
5.6
8.1
6.3
7.2
6.9
8.0
7.3
5.7
7.7
7.1
7.1
7.8
7.4
6.5
4.4
9.4
12.3
5.1
9.4
5.7
0.2
4.0
3.3
3.7
9.5
5.1
3.9
6.0
1.7
6.2
1.8
3.7
10.2
8.2
9.6
1.1
5.1
3.8
0.8
0.9
6.2
3.3
5.2
3.9
1.9
2.8
9.2
5.6
3.6
2.1
3.0
1.0
4.9
3.5
1.7
0.7
2.6
6.1
6.1
8.6
9.7
8.4
13.1
7.7
7.9
53.2
8.5
8.3
16.6
7.6
12.4
5.3
8.0
12.4
6.5
11.5
7.3
0.1
5.5
5.4
7.3
9.5
5.3
1.5
7.6
3.2
11.3
5.4
4.3
7.7
2.8
9.6
2.6
4.4
4.7
5.2
7.4
6.7
3.8
13.2
4.6
0.5
0.9
18.7
5.4
3.4
3.7
3.4
2.3
3.9
7.3
3.9
3.1
4.3
5.8
11.1
6.5
6.2
5.1
9.0
2.5
1.0
59.2
0.9
5.1
2.8
4.6
5.8
5.3
0.6
11.9
4.6
6.2
9.3
0.1
2.9
2.6
3.4
9.9
4.0
3.0
4.3
1.7
10.9
4.3
6.3
15.0
2.8
8.3
5.4
4.5
3.2
2.0
5.9
7.5
3.0
10.9
2.0
1.4
1.3
9.1
5.9
2.0
2.0
2.4
3.4
5.7
2.5
3.3
3.6
3.7
3.3
7.3
8.9
6.4
6.8
5.6
5.8
2.4
18.3
0.5
5.8
6.6
4.6
5.0
6.8
0.3
11.7
4.6
7.5
11.3
0.4
3.0
2.6
2.9
9.4
6.4
1.5
6.4
2.1
4.0
1.9
2.0
8.6
5.7
9.9
2.8
5.0
2.9
0.6
5.4
6.9
2.2
9.5
1.5
2.0
1.5
6.6
4.3
1.9
0.1
0.4
2.2
1.7
1.8
2.8
2.2
0.9
4.0
7.7
7.5
8.1
7.8
8.7
3.0
1.4
18.1
3.1
6.7
7.5
5.1
6.1
6.0
12.1
9.1
3.5
7.0
9.9
0.2
3.9
2.0
0.5
5.9
6.4
2.1
5.5
3.1
2.5
1.1
0.6
12.9
5.9
9.0
4.0
5.2
4.2
0.4
5.2
3.3
1.9
0.7
1.2
1.1
0.8
4.1
3.8
1.6
0.9
1.6
0.2
0.2
0.4
0.1
0.7
0.0
1.1
2.1
8.9
2015
Projections
2016 2017 2021
End of Period2
Projections
2015 2016 2017
15.5
15.5
15.3
3.7
4.0
13.5
4.0
6.5
6.5
9.6
5.8
6.4
48.7
8.5
2.7
6.4
6.3
0.4
1.2
1.4
1.4
4.9
6.4
0.6
5.3
2.1
1.4
2.2
1.0
5.9
11.4
7.2
2.2
6.0
1.4
0.9
0.9
0.9
0.9
0.6
0.1
3.2
2.5
0.6
2.9
1.9
1.0
1.1
0.5
0.1
0.5
0.2
1.6
0.9
0.6
1.4
7.7
8.4
7.2
11.2
0.5
10.2
12.7
2.6
13.1
1.1
6.8
6.3
5.5
15.1
8.4
3.1
6.7
4.4
0.3
3.1
2.1
3.3
5.5
3.7
1.5
3.3
2.1
2.1
0.6
1.9
2.4
9.8
10.0
2.0
6.9
2.0
0.3
2.4
4.1
0.3
0.6
0.1
3.5
2.2
2.0
3.1
1.1
0.7
1.6
1.0
0.4
0.2
0.1
0.5
0.6
1.5
1.3
8.4
13.9
12.9
16.3
0.1
7.7
12.0
4.9
12.0
3.4
13.5
5.1
6.0
43.3
8.4
2.7
6.5
7.4
1.0
2.8
1.6
1.6
5.3
3.4
0.6
5.5
2.7
1.9
2.2
1.0
1.1
10.7
7.6
0.8
6.3
1.5
0.4
3.5
2.8
0.9
0.6
0.4
4.4
1.5
0.6
3.5
2.0
1.2
0.9
0.1
0.5
0.1
0.3
1.4
0.5
0.9
1.6
8.8
6.3
5.0
9.2
2.5
8.5
12.0
3.6
9.3
7.4
4.4
7.3
5.0
11.0
9.6
3.3
6.9
4.6
0.0
2.7
2.3
2.8
5.2
4.2
2.0
2.3
3.0
2.6
1.1
1.3
6.7
9.0
9.9
2.0
7.5
3.4
1.0
4.0
5.3
1.6
1.3
1.5
2.9
2.6
3.6
4.2
2.2
0.5
0.6
0.8
1.9
0.9
0.7
1.3
1.1
1.7
3.2
8.2
4.8
4.0
6.6
4.0
4.0
9.0
3.0
7.1
5.1
5.0
6.0
6.9
5.0
10.0
3.7
5.7
4.7
0.1
0.2
3.0
2.8
4.9
4.0
2.5
3.1
3.0
4.2
2.1
3.0
6.5
6.9
6.5
2.0
6.0
3.5
3.0
2.9
5.0
2.5
4.0
2.7
2.5
3.0
4.0
4.3
3.0
2.0
2.1
2.0
3.0
2.2
2.0
2.0
2.5
2.5
4.0
6.5
7.1
5.9
9.8
1.0
12.8
13.0
3.2
9.0
3.3
3.5
7.0
5.0
13.0
8.0
3.2
7.0
7.6
0.4
3.2
2.3
3.3
5.3
3.4
1.5
4.5
2.1
2.0
0.7
1.9
5.9
10.4
11.5
3.2
7.0
2.9
0.3
4.5
5.4
1.3
0.6
0.5
3.5
2.5
3.5
3.9
1.8
0.3
0.8
0.1
0.8
0.5
0.5
1.0
0.2
0.3
2.0
9.1
237
5.8
4.9
8.1
3.5
4.2
11.0
4.0
9.0
5.7
4.7
6.4
5.0
8.5
9.8
3.3
7.0
6.9
0.1
2.9
2.3
2.8
5.3
4.4
2.0
2.3
3.0
3.2
1.1
1.3
5.8
7.7
8.3
0.8
7.5
3.2
1.7
2.7
5.2
1.7
3.3
2.5
2.9
2.7
3.8
3.7
2.3
0.7
1.4
1.2
2.6
1.7
1.0
1.4
1.5
2.7
3.5
6.2
Table A7. Emerging Market and Developing Economies: Consumer Prices1 (continued)
Latin America and the Caribbean7

Antigua and Barbuda
Argentina8
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
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
Sudan9
Syria10
Tunisia
Yemen
238
Average
19982007
2008
2009
2010
2011
2012
2013
2014
2015
End of Period2
Projections
Projections
2016
2017
2021 2015 2016
2017
7.0
1.8
6.8
1.9
2.6
1.8
4.1
6.6
3.3
8.0
10.9
1.6
12.2
22.4
3.1
2.3
6.9
6.2
15.1
9.1
9.3
7.3
9.0
1.5
8.8
2.8
3.4
2.8
2.2
20.5
5.3
8.6
21.0
6.4
5.3
8.6
4.4
8.1
6.4
14.0
5.7
8.7
7.0
13.4
6.4
10.6
8.4
7.3
8.0
11.4
8.1
14.4
11.4
22.0
5.1
19.8
8.8
10.2
5.8
5.3
5.5
10.1
14.6
12.1
7.9
30.4
4.6
0.6
6.3
1.7
3.6
1.1
3.3
4.9
1.5
4.2
7.8
0.0
1.4
5.2
0.5
0.3
1.9
3.0
3.4
5.5
9.6
5.3
3.7
2.4
2.6
2.9
2.1
0.2
0.4
0.4
7.0
7.1
27.1
4.2
3.4
10.5
1.6
5.8
0.9
2.5
5.0
1.4
2.3
5.7
2.8
6.3
3.6
1.2
3.4
3.9
4.3
4.1
4.7
12.6
4.2
5.5
3.5
4.7
1.5
0.7
3.3
0.8
6.7
10.5
6.7
28.2
5.2
3.5
9.8
3.1
9.4
1.7
9.9
6.6
3.3
3.4
4.9
1.1
8.5
4.5
5.1
3.0
6.2
4.4
7.4
6.8
7.5
3.4
8.1
5.9
8.3
3.4
7.1
2.8
3.2
17.8
5.1
8.1
26.1
4.6
3.4
10.0
1.9
4.5
1.2
4.5
5.4
3.0
3.2
4.5
1.4
3.7
5.1
1.7
2.4
3.8
2.4
6.8
5.2
6.9
4.1
7.2
5.7
3.7
3.7
1.4
4.2
2.6
5.0
9.2
8.1
21.1
4.6
1.1
10.6
0.4
1.8
0.5
5.7
6.2
1.9
2.0
5.2
0.0
4.8
2.7
0.8
0.0
4.3
2.2
6.8
5.2
9.4
3.8
7.1
4.0
2.7
2.8
1.0
1.5
0.8
1.9
5.3
8.6
40.6
4.9
1.1
...
1.2
1.9
1.2
5.8
6.3
4.4
2.9
4.5
0.8
3.0
3.6
1.1
0.8
3.4
1.0
3.9
6.1
8.3
4.0
6.0
2.6
5.0
3.2
0.7
3.5
0.2
3.4
5.7
8.9
62.2
5.5
1.0
...
1.9
1.1
0.9
4.1
9.0
4.3
5.0
0.8
0.8
0.8
4.0
0.7
0.6
2.4
0.3
7.5
3.2
3.7
2.7
4.0
0.1
3.1
3.5
2.8
1.0
1.7
6.9
4.7
8.7
121.7
5.8
4.2
3.6
6.2
5.1
3.9
1.4
1.8
2.5
0.9
1.4
2.2
...
23.2
9.7
. . . 39.4
20.5
1.0
1.5
1.3
2.0
1.0
1.5
0.3
2.0
2.5 2.5
1.7
2.3
1.0
2.2
2.0 0.6
2.0
2.3
3.9
5.1
5.0
3.0
5.1
5.0
9.0
5.4
4.5 10.7
7.2
5.0
4.0
3.0
3.0
4.4
3.5
3.0
7.6
4.1
3.0
6.8
6.0
3.7
0.7
2.6
3.0 0.8
2.2
3.0
0.2
1.6
2.2 0.1
0.1
1.8
2.3
4.0
4.0
2.3
3.0
4.0
2.4
1.1
0.7
3.4
2.9
0.2
1.0
1.5
2.0
1.0
0.3
2.0
2.3
3.4
2.1
1.0
2.8
2.8
4.5
3.6
4.0
3.1
4.3
4.0
0.2
2.1
3.0 1.8
2.2
2.0
13.3
9.1
5.0 11.3
12.0
7.0
3.1
4.1
4.5
2.4
4.7
4.5
4.4
5.2
4.9
3.7
5.2
5.2
2.8
3.3
3.0
2.1
3.2
3.1
6.2
7.3
7.7
3.1
6.2
7.3
0.7
1.5
2.0
0.3
1.0
1.5
4.1
4.1
4.5
3.1
3.8
4.1
3.6
2.5
2.5
4.4
2.9
2.5
1.3
0.8
1.8 2.9
0.2
1.3
1.0
3.2
2.5 2.6
0.6
4.0
0.4
1.2
1.5 2.1
1.0
1.3
67.1
30.7
4.0 25.0 76.7
9.2
4.8
5.3
4.6
1.5
5.2
5.3
10.2
8.7
6.3
9.4
9.9
8.8
475.8 1,660.1 4,505.0 180.9 720.0 2,200.0
5.8
...
2.9
0.8
2.3
5.1
14.9
...
2.7
2.2
1.7
0.7
6.5
1.8
1.0
5.8
5.1
0.4
9.4
2.6
2.6
4.5
10.6
11.8
26.4
4.9
3.5
12.0
11.7
25.3
2.7
14.0
6.3
10.8
10.4
7.5
3.9
12.6
12.0
15.1
6.1
14.3
15.2
4.3
12.3
19.0
7.3
6.8
5.7
2.8
1.7
16.2
10.7
2.2
0.7
4.6
1.2
2.4
2.1
1.0
3.5
19.6
4.9
4.1
11.3
2.8
3.7
1.6
3.7
6.6
2.2
3.9
2.0
4.0
11.7
12.4
2.4
4.8
4.5
4.0
2.5
6.3
1.0
3.3
10.1
2.4
3.8
13.0
4.4
3.3
0.9
11.2
9.2
11.8
4.5
0.4
5.1
11.1
21.2
5.6
4.2
4.9
5.0
15.9
5.7
0.9
4.0
13.7
2.0
3.7
18.3
...
3.5
0.9
19.5
9.8
6.4
8.9
2.8
3.7
8.6
30.8
6.1
4.5
3.2
6.6
6.1
4.9
1.3
2.9
11.0
1.9
2.9
35.4
...
5.1
0.7
9.9
9.1
7.4
3.3
3.3
2.4
6.9
34.7
1.9
4.8
2.7
4.8
2.6
4.1
1.9
1.2
7.4
3.1
3.5
36.5
...
5.8
1.1
11.0
6.8
4.7
2.9
2.7
2.9
10.1
15.6
2.2
2.9
2.9
1.9
2.8
3.8
0.4
1.0
8.6
3.4
2.7
36.9
...
4.9
2.3
8.2
5.8
1.5
4.8
1.8
2.1
11.0
11.9
1.4
0.9
3.2
3.7
14.1
0.5
1.5
0.1
4.5
1.8
2.2
16.9
...
4.9
4.1
39.4
5.1
4.5
5.9
3.6
3.0
10.2
7.4
2.0
0.5
3.4
0.7
14.2
1.3
1.3
1.1
2.9
3.0
4.0
13.5
...
3.7
3.6
5.0
6.0
6.0
4.8
3.0
3.5
18.2
7.2
2.0
2.3
3.8
2.0
12.5
4.2
1.3
3.1
5.2
3.1
2.0
16.1
...
3.9
3.1
18.0
4.3
7.0
4.0
2.4
3.0
7.1
5.0
2.0
2.5
3.6
2.0
7.3
5.1
2.0
2.8
5.0
2.2
2.0
13.7
...
3.5
3.6
9.0
5.1
0.1
4.4
0.7
1.9
11.4
8.3
2.3
1.6
3.2
3.4
23.3
2.8
0.6
0.1
3.2
...
2.3
12.6
...
4.1
3.8
18.8
6.1
4.7
5.9
4.4
3.0
14.0
8.0
2.0
1.2
3.4
2.0
7.4
3.5
1.2
1.1
4.5
...
4.0
16.5
...
4.0
3.6
22.0
5.8
7.2
4.8
2.5
3.0
16.5
6.5
2.0
2.5
3.8
2.0
16.9
4.2
1.3
3.1
5.0
...
2.0
13.7
...
3.9
3.1
15.0
Table A7. Emerging Market and Developing Economies: Consumer Prices1 (continued)
Sub-Saharan Africa
Angola
Benin
Botswana
Burkina Faso
Burundi
Cabo Verde
Cameroon
Chad
Comoros
Republic of Congo
Cte dIvoire
Equatorial Guinea
Eritrea
Ethiopia
Gabon
The Gambia
Ghana
Guinea
Guinea-Bissau
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
So Tom and Prncipe
Senegal
Seychelles
Sierra Leone
South Africa
South Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe11
Average
19982007
2008
2009
2010
2011
2012
2013
2014
2015
10.2
93.1
2.9
8.1
2.1
8.9
2.1
2.2
1.8
1.3
3.6
79.5
2.5
2.8
5.4
15.3
6.6
0.3
6.1
17.9
13.7
2.6
5.9
7.2
...
10.0
19.5
1.7
6.1
9.6
7.4
1.8
11.3
5.9
16.2
1.8
3.2
11.6
5.4
...
7.0
6.3
1.9
5.1
19.7
18.5
12.9
12.5
7.4
12.6
10.7
24.4
6.8
5.3
9.3
8.3
4.8
18.0
6.0
6.3
4.7
19.9
44.4
5.3
4.5
16.5
18.4
10.4
15.1
10.7
17.5
9.3
8.7
9.1
9.7
10.3
9.1
11.3
11.6
15.4
32.0
6.3
37.0
14.8
11.5
...
12.7
10.3
8.7
12.0
12.4
157.0
9.8
13.7
0.9
8.1
0.9
10.6
1.0
3.0
3.5
10.1
4.8
46.1
4.3
1.0
5.7
33.0
8.5
1.9
4.6
13.1
4.7
1.6
10.6
5.9
7.4
9.0
8.4
2.2
2.5
3.3
9.5
4.3
12.5
10.3
17.0
2.2
31.8
9.2
7.1
...
7.4
12.1
3.7
13.0
13.4
6.2
8.2
14.5
2.2
6.9
0.6
6.5
2.1
1.3
1.5
2.1
3.9
23.5
5.0
1.4
5.3
11.2
8.1
1.4
5.0
6.7
15.5
1.1
4.3
3.4
7.3
9.2
7.4
1.3
2.9
12.7
4.9
2.8
13.7
2.3
13.3
1.2
2.4
17.8
4.3
...
4.5
7.2
1.4
3.8
8.5
3.0
9.4
13.5
2.7
8.5
2.8
9.6
4.5
2.9
1.2
1.9
2.2
14.9
1.8
4.9
4.8
3.9
33.2
1.3
4.8
7.7
21.4
5.1
14.0
6.0
8.5
9.5
7.6
3.1
6.5
10.4
5.0
2.9
10.8
5.7
14.3
3.4
2.6
18.5
5.0
...
6.1
12.7
3.6
15.1
8.7
3.5
9.3
10.3
6.7
7.5
3.8
18.2
2.5
2.4
5.9
7.7
5.9
0.9
5.0
1.3
3.4
6.0
24.1
2.7
4.6
7.1
15.2
2.1
9.4
5.5
6.8
5.7
21.3
5.3
3.9
2.1
6.7
0.5
12.2
6.3
10.6
1.4
7.1
13.8
5.7
45.1
8.9
16.0
2.6
12.9
6.6
3.7
6.6
8.8
1.0
5.9
0.5
7.9
1.5
2.1
6.6
0.2
1.6
0.9
4.6
2.6
3.2
6.5
8.1
0.5
5.2
11.7
11.9
0.8
5.7
5.0
7.6
5.8
28.3
0.6
3.5
4.2
5.6
2.3
8.5
4.2
8.1
0.7
4.3
9.8
5.8
0.0
5.6
7.9
1.8
5.0
7.0
1.6
6.3
7.3
1.1
4.4
0.3
4.4
0.2
1.9
11.6
1.7
1.3
1.2
0.9
0.4
4.3
10.0
7.4
4.5
6.2
15.5
9.7
1.0
6.9
4.0
9.9
6.1
23.8
0.9
3.2
2.3
5.3
0.9
8.0
1.8
7.0
1.1
1.4
8.3
6.1
1.7
5.7
6.1
0.2
3.1
7.8
0.2
7.0
10.3
0.3
3.0
0.9
5.6
0.1
2.7
4.5
3.7
2.0
1.0
2.0
1.2
1.7
9.0
10.1
0.1
6.8
17.2
8.2
1.5
6.6
5.3
7.7
7.4
21.9
1.4
1.3
2.4
3.4
1.0
9.0
2.5
5.3
0.1
4.0
9.0
4.6
52.8
5.0
5.6
1.8
5.5
10.1
2.4
End of Period2
Projections
2015 2016 2017
Projections
2016 2017 2021
11.3
33.7
0.6
3.2
1.6
6.3
0.1
2.2
4.0
0.0
2.2
1.7
4.0
1.0
1.5
9.0
7.7
2.5
8.3
17.0
8.2
2.6
6.2
8.6
8.6
6.7
19.8
1.0
1.5
16.7
6.6
1.6
15.4
5.3
3.9
1.0
0.8
9.7
6.4
476.0
7.0
5.2
2.1
5.5
19.1
1.6
10.8
38.3
2.2
3.5
2.0
9.4
1.3
2.2
3.5
5.2
2.2
2.7
3.7
1.5
1.4
9.0
8.2
2.5
7.6
10.0
8.1
2.8
5.5
6.0
8.5
6.9
13.9
1.3
2.1
15.5
6.0
2.0
17.1
4.9
3.5
1.8
2.5
9.0
6.0
110.7
6.1
5.0
2.5
5.1
9.1
4.6
7.9
17.8
2.3
4.5
2.0
5.0
2.0
2.2
3.0
3.0
2.2
3.0
3.6
2.0
1.8
9.0
8.2
2.5
5.0
6.0
5.0
3.0
5.0
5.0
7.5
5.4
8.1
2.5
2.6
5.6
5.7
2.0
13.4
5.0
3.0
1.8
3.0
6.5
5.5
20.0
5.8
5.0
2.0
5.0
5.0
2.0
8.2
14.3
2.3
3.1
1.3
7.1
0.5
2.8
4.8
0.3
3.3
0.9
2.2
1.3
1.6
9.0
10.0
0.1
6.7
17.7
7.3
2.4
8.0
6.0
8.0
7.6
24.9
1.0
1.3
11.1
3.7
2.2
9.6
4.5
4.0
0.4
3.2
10.1
5.2
109.9
4.9
6.8
1.8
8.5
21.1
2.5
12.8
48.0
2.2
3.3
1.6
11.6
1.0
2.2
4.0
5.0
6.4
2.5
4.6
1.2
1.4
9.0
9.7
2.5
10.0
13.5
8.8
2.5
5.6
8.5
8.8
7.1
15.2
1.0
2.0
20.0
7.3
1.6
18.5
4.7
4.0
1.4
0.9
9.5
6.7
583.9
5.5
5.0
2.3
5.2
9.5
1.2
1Movements
10.0
32.0
2.3
3.6
2.0
7.6
1.5
2.2
3.5
3.0
1.5
3.0
3.5
1.7
1.5
9.0
8.0
2.5
5.2
8.0
7.5
2.5
5.5
6.0
8.2
7.1
10.2
1.5
2.2
12.2
6.0
2.2
17.0
5.0
3.0
1.7
3.1
9.0
5.5
38.1
6.6
5.0
2.5
5.1
8.7
6.0
in consumer prices are shown as annual averages.

year-over-year changes and, for several countries, on a quarterly basis.
3For many countries, inflation for the earlier years is measured on the basis of a retail price index. Consumer price index (CPI) inflation data with broader and more up-to-date coverage are
typically used for more recent years.
4Georgia, Turkmenistan, and Ukraine, which are not members of the Commonwealth of Independent States, are included in the group for reasons of geography and similarity in economic
structure.
5Starting in 2014 data exclude Crimea and Sevastopol.
6Based on Eurostats harmonized index of consumer prices.
7Excludes Argentina and Venezuela.
11The Zimbabwe dollar ceased circulating in early 2009. Data are based on IMF staff estimates of price and exchange rate developments in U.S. dollars. IMF staff estimates of U.S. dollar values
may differ from authorities estimates.
2Monthly
239
Table A8. Major Advanced Economies: General Government Fiscal Balances and Debt1
(Percent of GDP unless noted otherwise)

Net Lending/Borrowing
Output Gap2
Structural Balance2
United States
Net Lending/Borrowing3
Output Gap2
Structural Balance2
Net Debt
Gross Debt
Euro Area
Output Gap2
Structural Balance2
Net Debt
Gross Debt
Germany
Output Gap2
Structural Balance2
Net Debt
Gross Debt
France
Output Gap2
Structural Balance2
Net Debt
Gross Debt
Italy
Output Gap2
Structural Balance2,4
Net Debt
Gross Debt
Japan
Output Gap2
Structural Balance2
Net Debt
Gross Debt5
United Kingdom
Output Gap2
Structural Balance2
Net Debt
Gross Debt
Canada
Output Gap2
Structural Balance2
Net Debt
Gross Debt
Average
19982007
2010
2011
2012
2013
2014
2015
2016
Projections
2017
2021
3.2
0.9
3.7
8.8
2.7
7.4
7.4
2.2
6.5
6.4
1.8
5.3
4.4
1.7
3.9
3.8
1.4
3.3
3.2
0.8
2.8
3.6
0.7
3.2
3.3
0.4
3.1
2.5
0.1
2.5
3.1
2.0
3.7
41.7
60.7
10.9
3.4
9.6
69.4
94.7
9.6
3.1
8.2
75.9
99.0
7.9
2.2
6.4
79.4
102.5
4.4
1.9
4.3
80.8
104.6
4.2
1.3
3.9
80.3
104.6
3.5
0.4
3.3
79.8
105.2
4.1
0.5
3.9
82.2
108.2
3.7
0.0
3.7
82.3
108.4
3.7
0.1
3.7
84.4
108.3
2.0
0.5
2.4
47.8
68.1
6.2
1.5
4.6
57.8
84.1
4.2
0.6
3.8
60.2
86.7
3.7
1.9
2.1
65.7
91.3
3.0
2.7
1.3
67.8
93.3
2.6
2.5
1.1
68.3
94.3
2.1
1.8
0.9
67.6
92.5
2.0
1.2
1.2
67.4
91.7
1.7
0.8
1.1
67.0
91.0
0.6
0.2
0.6
62.2
84.2
2.3
0.2
2.4
44.3
61.9
4.2
1.3
2.4
57.1
81.0
1.0
1.0
1.3
55.2
78.3
0.0
0.4
0.2
54.4
79.5
0.2
0.3
0.0
53.4
77.1
0.3
0.0
0.6
50.1
74.5
0.7
0.0
0.7
47.5
71.0
0.1
0.4
0.1
45.4
68.2
0.1
0.4
0.2
43.7
65.9
0.6
0.2
0.5
36.8
56.7
2.5
0.3
2.8
53.8
62.4
6.8
1.9
5.6
73.7
81.7
5.1
0.9
4.5
76.4
85.2
4.8
1.7
3.6
81.6
89.6
4.0
2.2
2.6
84.4
92.4
4.0
2.5
2.4
87.4
95.3
3.5
2.2
2.0
88.2
96.1
3.3
1.8
2.0
89.2
97.1
3.0
1.5
1.9
89.8
97.8
1.0
0.2
1.1
85.8
93.8
2.9
0.2
3.5
90.0
103.7
4.2
1.3
3.7
98.3
115.4
3.5
0.5
3.9
100.4
116.5
2.9
2.8
1.6
105.0
123.3
2.9
4.1
0.6
109.9
129.0
3.0
4.1
1.1
112.5
132.5
2.6
3.3
0.8
113.3
132.7
2.5
2.5
1.2
113.8
133.2
2.2
1.7
1.1
113.9
133.4
0.0
0.0
0.0
106.7
125.0
5.8
0.7
5.6
70.0
162.4
9.3
2.7
7.9
113.1
215.8
9.8
3.4
8.4
127.2
231.6
8.8
2.0
7.9
129.0
238.0
8.6
1.1
8.3
124.2
244.5
6.2
1.5
5.8
126.2
249.1
5.2
1.5
4.8
125.3
248.0
5.2
1.5
4.9
127.9
250.4
5.1
1.3
4.8
130.7
253.0
3.1
1.2
2.9
131.5
253.9
1.6
1.0
2.2
34.1
38.4
9.5
2.5
7.4
68.5
75.7
7.6
2.0
6.0
72.9
81.3
7.7
2.3
6.0
76.2
84.8
5.7
1.7
4.2
77.6
86.0
5.6
0.7
4.9
79.5
87.9
4.2
0.2
4.0
80.4
89.0
3.3
0.1
3.2
80.5
89.0
2.7
0.4
2.5
80.3
88.8
0.7
0.0
0.7
73.6
82.1
1.1
1.3
0.4
38.2
78.1
4.7
2.4
3.4
26.8
81.1
3.3
1.1
2.7
27.1
81.5
2.5
1.3
1.8
28.2
84.8
1.9
0.9
1.4
29.4
86.1
0.5
0.4
0.5
28.1
86.2
1.3
0.9
0.8
26.3
91.5
2.5
1.1
1.9
26.9
92.1
2.3
0.6
1.9
25.3
90.5
0.9
0.1
0.8
17.2
82.2
Note: The methodology and specific assumptions for each country are discussed in Box A1. The country group composites for fiscal data are calculated as the sum of the U.S. dollar
values for the relevant individual countries.
1Debt data refer to the end of the year and are not always comparable across countries. Gross and net debt levels reported by national statistical agencies for countries that have
adoptedthe System of National Accounts (SNA) 2008 (Australia, Canada, Hong Kong Special Administrative Region, United States) are adjusted to exclude unfunded pension liabilities of
government employees defined-benefit pension plans. Fiscal data for the aggregated Major Advanced Economies and the United States start in 2001, and the average for the aggregate and
the United States is therefore for the period 200107.
2Percent of potential GDP.
3Figures reported by the national statistical agency are adjusted to exclude items related to the accrual-basis accounting of government employees defined-benefit pension plans.
4Excludes one-time measures based on the authorities data and, in the absence of the latter, receipts from the sale of assets.
5Includes equity shares; nonconsolidated basis.
240
Table A9. Summary of World Trade Volumes and Prices

Averages
19982007 200817
Trade in Goods and Services
World Trade1
Volume
Price Deflator
In U.S. Dollars
In SDRs
Volume of Trade
Exports
Advanced Economies
Imports
Advanced Economies
Terms of Trade
Advanced Economies
Trade in Goods
World Trade1
Volume
Price Deflator
In U.S. Dollars
In SDRs
World Trade Prices in U.S. Dollars2
Manufactures
Oil
Nonfuel Primary Commodities
Food
Beverages
Agricultural Raw Materials
Metal
World Trade Prices in SDRs2
Manufactures
Oil
Food
Beverages
Metal
World Trade Prices in Euros2
Manufactures
Oil
Food
Beverages
Metal
2008
2009
2010
2011
2012
2013
2014
2015
Projections
2016
2017
6.8
2.9
2.9
10.5
12.4
7.0
2.8
3.5
3.8
2.6
2.3
3.8
2.7
1.6
0.3
0.6
11.5
8.1
10.4
8.2
5.6
6.7
11.1
7.4
1.7
1.3
0.6
0.1
1.8
1.7
13.2
5.7
2.8
2.8
2.5
2.2
5.8
8.8
2.5
3.7
1.9
4.8
11.1
8.3
12.0
13.6
5.9
9.0
2.3
3.8
3.2
4.5
3.8
3.5
3.6
1.3
1.8
2.9
3.5
3.6
6.2
8.9
2.1
4.5
0.4
9.5
11.6
8.8
11.4
14.0
5.1
11.0
1.2
5.5
2.3
5.3
3.8
4.5
4.2
0.6
2.4
2.3
3.9
4.1
0.2
1.7
0.1
0.1
2.2
3.8
2.6
5.0
1.0
1.9
1.5
3.3
0.7
0.6
0.8
0.1
0.3
0.5
1.8
4.1
0.9
1.0
0.1
0.1
6.9
2.8
2.5
11.5
14.3
6.9
2.5
3.2
3.2
2.4
2.3
3.8
2.6
1.5
0.5
0.4
12.4
8.9
11.8
9.7
6.6
7.7
12.5
8.7
1.8
1.2
1.1
0.4
2.5
2.4
14.4
7.1
3.7
3.6
2.6
2.3
1.5
14.0
3.9
2.1
0.6
0.2
10.4
0.4
3.3
0.7
1.2
3.4
0.1
4.3
6.2
36.4
7.9
24.3
23.3
0.7
7.8
5.3
36.3
16.0
15.2
1.6
17.1
19.2
2.6
27.9
26.6
12.1
14.1
33.2
48.2
6.4
31.6
18.0
20.2
16.6
22.7
13.5
0.9
1.0
10.0
2.4
18.6
12.7
16.8
1.5
0.9
1.4
0.7
11.9
1.6
4.3
1.0
7.5
4.0
4.1
20.7
1.9
10.3
2.9
47.2
17.5
17.1
3.1
13.5
23.1
2.1
15.4
2.7
1.9
3.3
7.6
7.5
1.4
17.9
0.9
0.3
3.7
1.9
1.7
0.4
12.7
2.8
1.0
1.6
0.8
9.3
1.3
2.5
0.2
2.1
4.3
0.8
3.4
2.9
32.2
4.6
20.5
19.5
3.8
10.7
3.0
34.8
13.9
13.1
4.1
15.1
17.2
3.7
29.3
28.0
13.3
15.3
34.6
49.8
2.8
27.2
14.0
16.1
12.7
18.6
9.7
4.0
4.1
7.3
0.6
16.1
10.0
14.3
0.7
0.1
0.6
1.5
11.2
2.4
3.5
0.9
7.5
3.9
4.1
20.8
2.0
10.2
5.4
42.7
10.4
10.0
5.2
6.1
16.6
2.0
15.4
2.7
2.0
3.3
7.5
7.5
1.1
17.5
0.5
0.6
3.3
1.6
1.4
0.5
11.8
1.9
0.2
2.4
1.7
8.4
2.4
1.4
1.3
3.2
5.5
1.9
2.4
1.1
27.1
0.5
15.8
14.8
7.5
14.1
0.1
32.7
11.2
10.4
7.3
12.5
14.6
7.7
34.3
32.9
17.7
19.8
39.8
55.5
1.4
25.5
12.5
14.6
11.2
17.0
8.3
9.2
9.3
2.6
5.6
11.9
5.5
10.0
4.7
4.1
4.5
2.5
14.7
1.6
7.3
1.0
7.6
4.0
4.2
20.7
1.8
10.3
16.3
36.8
1.2
0.7
16.1
3.6
7.9
2.7
16.0
3.4
1.3
3.9
8.2
8.1
0.4
16.8
0.1
1.2
2.7
0.9
0.8
241
Table A9. Summary of World Trade Volumes and Prices (continued)

Averages
19982007 200817
Trade in Goods
Volume of Trade
Exports
Advanced Economies
Fuel Exporters
Nonfuel Exporters
Imports
Advanced Economies
Fuel Exporters
Nonfuel Exporters
Price Deflators in SDRs
Exports
Advanced Economies
Fuel Exporters
Nonfuel Exporters
Imports
Advanced Economies
Fuel Exporters
Nonfuel Exporters
Terms of Trade
Advanced Economies
Regional Groups
Pakistan
Sub-Saharan Africa
Analytical Groups
Fuel
Nonfuel
Memorandum
World Exports in Billions of U.S. Dollars
Goods and Services
Goods
Average Oil Price4
In U.S. Dollars a Barrel
Export Unit Value of Manufactures5
2008
2009
2010
2011
2012
2013
2014
2015
Projections
2016
2017
5.9
9.1
5.2
10.6
2.4
3.6
2.0
4.2
1.6
4.1
4.2
4.1
13.0
8.8
7.9
9.2
14.7
15.0
5.5
18.9
6.0
8.1
7.7
8.3
1.9
4.2
3.7
4.4
2.6
4.3
1.3
5.8
3.4
2.8
0.2
4.1
3.4
1.1
1.7
0.9
1.7
3.0
2.7
3.1
3.5
3.4
2.2
3.7
6.3
8.9
9.6
8.8
2.0
4.3
2.3
4.7
0.3
8.9
14.3
7.4
12.8
9.0
13.0
8.1
13.0
15.1
6.5
17.4
5.3
10.3
8.6
10.7
0.4
5.3
9.9
4.3
1.9
5.0
4.8
5.0
3.5
2.8
1.5
3.1
3.9
0.2
8.1
1.7
2.4
2.5
2.6
3.6
4.1
3.9
4.4
3.8
0.8
4.0
9.1
2.0
0.0
1.0
0.7
1.5
5.8
14.6
24.7
10.1
7.4
12.8
24.6
6.9
4.4
12.9
22.5
8.9
6.4
12.4
23.0
8.1
0.3
2.8
3.6
2.4
0.5
0.9
1.9
0.5
1.9
3.2
7.0
1.6
6.4
8.8
28.6
0.9
2.0
5.7
11.1
4.1
2.0
3.0
10.1
1.1
1.1
2.4
2.0
2.4
0.0
1.1
1.6
1.0
8.6
10.0
8.4
10.5
10.7
8.4
5.5
9.1
6.4
11.1
9.3
11.5
8.6
9.0
9.9
8.8
1.0
2.2
1.9
2.3
0.4
0.9
1.2
0.9
2.0
2.9
2.8
2.9
8.0
4.9
1.9
5.7
3.2
4.7
2.8
5.2
1.8
2.9
1.8
3.1
0.3
1.6
0.0
0.1
2.6
4.1
3.7
4.8
1.8
1.6
2.0
3.1
1.3
0.6
0.8
0.0
0.1
0.3
1.8
4.0
1.2
1.0
0.2
0.1
5.3
1.8
0.0
2.8
1.0
0.5
0.2
0.5
15.5
1.4
0.5
4.7
16.7
3.3
3.4
4.8
11.7
6.5
3.9
8.5
6.7
2.5
1.8
5.4
1.9
1.2
1.1
1.3
1.3
1.1
1.9
1.5
0.5
2.6
1.0
2.7
20.1
9.1
2.4
10.0
7.4
1.5
0.5
1.2
6.5
2.4
3.2
0.3
6.1
6.4
3.0
2.3
2.4
0.1
11.4
12.0
8.9
17.6
18.0
10.4
8.3
8.2
12.5
12.9
13.0
11.0
0.3
0.9
1.3
0.7
0.7
0.8
4.8
4.9
3.6
25.7
26.5
14.7
6.3
7.0
2.1
7.2
7.3
3.6
6.9
0.4
2.2
0.5
15.0
0.4
20.2
2.4
12.1
2.4
11.9
0.7
1.6
0.1
0.7
0.4
4.3
1.4
27.2
5.1
8.6
1.1
8.1
2.0
10,172
8,084
14.0
36.40
1.5
20,916
16,476
3.3
79.16
0.4
19,585
15,669
36.4
97.04
6.2
15,722
12,222
36.3
61.78
5.3
18,668
14,891
27.9
79.03
2.6
22,210
17,896
31.6
104.01
6.4
22,442
18,031
1.0
105.01
0.9
23,154
18,458
0.9
104.07
1.5
23,574
18,551
7.5
96.25
1.0
20,920
16,166
47.2
50.79
2.9
1Average
20,800 22,083
15,937 16,943
15.4
17.9
42.96 50.64
2.1
1.4
of annual percent change for world exports and imports.

represented, respectively, by the export unit value index for manufactures of the advanced economies and accounting for 83 percent of the advanced economies trade (export of goods) weights;
the average of U.K. Brent, Dubai Fateh, and West Texas Intermediate crude oil prices; and the average of world market prices for nonfuel primary commodities weighted by their 200204 shares in
world commodity exports.
3Georgia, 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.
4Percent change of average of U.K. Brent, Dubai Fateh, and West Texas Intermediate crude oil prices.
5Percent change for manufactures exported by the advanced economies.
2As
242
Table A10. Summary of Current Account Balances

(Billions of U.S. dollars)
Advanced Economies
United States
Euro Area
Germany
France
Italy
Spain
Japan
United Kingdom
Canada
Regional Groups
Russia
Excluding Russia
China
India
ASEAN-53
Brazil
Mexico
Pakistan
Sub-Saharan Africa
South Africa
Analytical Groups
Fuel
Nonfuel
Memorandum
World
European Union
Projections
2017
2008
2009
2010
2011
2012
2013
2014
2015
2016
586.5
690.8
155.6
210.9
27.6
68.8
152.0
142.6
101.9
1.5
165.3
673.9
87.9
384.0
24.1
196.7
22.5
42.5
64.3
145.3
70.1
40.4
210.1
237.7
0.8
442.0
47.9
192.3
22.2
72.7
56.2
221.0
66.6
58.2
284.9
277.5
49.0
460.4
55.6
229.0
28.3
68.6
47.4
129.8
46.6
49.6
267.3
374.9
5.9
446.5
165.2
248.9
32.7
7.5
3.1
59.7
97.4
65.7
276.9
360.7
220.9
366.4
285.8
252.9
24.6
20.2
20.7
45.9
119.6
57.9
351.0
188.5
225.0
392.1
334.0
282.9
30.3
41.1
13.6
36.5
140.0
40.6
364.1
194.8
286.9
463.0
365.7
284.2
4.8
39.9
16.7
135.6
153.3
49.0
372.7
39.5
317.5
469.4
403.0
301.4
11.5
40.2
24.3
176.1
157.3
56.7
355.8
78.9
282.6
518.5
382.5
291.7
9.7
35.5
22.5
171.0
112.3
50.1
341.7
138.3
219.2
612.4
394.3
297.1
10.0
18.3
27.6
185.0
115.4
48.8
338.7
253.3
108.4
103.9
4.4
424.4
420.6
27.9
29.9
148.9
42.0
30.6
20.4
43.0
50.4
7.4
272.9
243.3
38.4
64.6
53.9
33.4
26.3
8.7
69.4
67.5
1.9
231.9
237.8
48.1
43.9
86.9
96.6
75.8
5.2
108.4
97.3
11.1
97.1
136.1
78.2
48.9
119.7
115.0
77.0
14.0
67.5
71.3
3.7
121.8
215.4
87.8
6.5
82.0
137.1
74.2
17.0
18.4
33.4
15.0
99.2
148.2
32.3
3.9
72.3
165.8
74.8
31.0
56.1
57.5
1.5
270.6
277.4
26.8
23.0
58.9
187.6
104.2
26.2
55.0
69.0
14.0
333.1
330.6
22.1
31.5
31.9
182.1
58.9
32.7
22.2
38.6
16.3
253.5
270.9
32.0
26.4
33.8
114.0
14.1
29.0
36.1
50.0
13.9
149.9
200.5
49.2
17.3
52.7
125.4
25.9
31.0
88.1
79.9
8.2
25.7
138.3
79.4
9.8
84.0
153.2
25.8
38.3
328.5
3.5
15.9
37.5
28.4
8.1
168.7
8.8
5.6
411.3
7.2
9.2
414.1
23.7
20.3
342.4
33.5
21.6
176.3
61.7
18.6
125.4
88.2
13.7
144.0
62.8
9.4
88.8
57.4
9.2
45.4
84.5
12.2
580.8
93.8
20.7
132.4
106.9
4.8
304.6
25.3
11.7
613.3
238.5
26.8
589.6
228.9
57.2
458.2
269.8
67.4
273.9
79.0
44.3
96.7
57.2
52.1
110.2
31.3
42.8
29.9
108.4
49.8
74.8
328.1
77.2
318.5
179.1
273.5
370.0
415.5
388.9
369.4
312.4
257.3
313.5
429.2
20.4
21.7
15.6
25.5
39.3
39.1
23.3
31.5
37.2
31.6
31.0
87.4
249.8
10.5
342.1
149.8
21.5
24.8
45.2
278.3
0.5
19.2
171.5
325.9
74.1
28.2
410.0
366.6
202.1
33.7
417.6
409.4
299.5
39.5
343.2
419.9
302.4
49.0
178.9
247.4
344.3
82.6
123.7
238.6
364.7
67.4
142.3
144.3
385.5
67.7
84.3
34.1
378.4
103.7
40.8
243
2021
Table A10. Summary of Current Account Balances (continued)

(Percent of GDP)
Advanced Economies
United States
Euro Area
Germany
France
Italy
Spain
Japan
United Kingdom
Canada
Emerging Market and Developing
Economies
Regional Groups
Russia
Excluding Russia
China
India
ASEAN-53
Brazil
Mexico
and Pakistan
Sub-Saharan Africa
South Africa
Analytical Groups
Fuel
Nonfuel
Memorandum
World
European Union
244
2008
2009
2010
2011
2012
2013
2014
2015
2016
Projections
2017
2021
1.3
4.7
1.1
5.6
0.9
2.9
9.3
2.9
3.5
0.1
3.1
0.2
2.7
0.2
5.7
0.8
1.9
4.3
2.9
3.0
2.9
4.2
0.0
3.0
0.4
5.6
0.8
3.4
3.9
4.0
2.7
3.6
5.0
0.1
3.0
0.4
6.1
1.0
3.0
3.2
2.2
1.8
2.8
4.1
0.0
2.8
1.3
7.0
1.2
0.4
0.2
1.0
3.7
3.6
4.2
0.5
2.2
2.2
6.7
0.9
0.9
1.5
0.9
4.4
3.2
5.2
0.5
2.3
2.5
7.3
1.1
1.9
1.0
0.8
4.7
2.3
5.3
0.6
2.6
3.2
8.4
0.2
2.2
1.4
3.3
5.4
3.2
5.9
0.7
2.5
3.4
8.6
0.5
2.2
1.9
3.7
5.9
3.7
5.6
0.6
2.7
3.1
8.1
0.4
1.9
1.7
3.3
4.3
3.1
5.1
0.4
2.7
2.8
7.2
0.3
0.9
1.8
3.3
3.8
2.5
4.3
3.4
1.3
1.2
1.4
1.3
0.6
0.6
0.1
0.3
0.4
0.6
4.7
5.8
0.9
5.7
9.1
2.3
2.2
8.0
1.0
1.8
1.9
2.5
3.8
1.8
3.4
4.7
2.8
4.8
3.5
0.8
1.6
1.0
3.3
4.1
0.4
2.4
3.9
2.8
2.6
5.1
1.9
3.4
0.5
4.1
4.8
1.8
0.8
1.8
4.3
2.5
6.5
2.0
2.9
1.2
2.4
3.3
0.6
1.0
2.5
4.8
0.3
4.6
2.3
3.0
1.4
0.6
1.5
2.1
0.7
1.5
1.7
0.2
3.8
2.8
3.0
2.5
2.1
2.8
0.2
1.8
2.6
1.3
1.1
3.1
3.2
4.3
2.0
3.0
5.2
2.6
2.1
3.0
1.1
1.5
1.9
3.6
3.3
2.9
1.3
3.0
3.7
1.6
2.4
1.4
1.2
2.0
2.3
0.8
2.7
1.9
3.5
2.9
0.8
1.6
2.0
0.7
3.0
2.3
1.3
2.8
3.6
4.5
1.3
0.1
0.8
2.2
0.3
3.8
2.3
1.1
2.7
12.4
0.3
5.5
1.6
2.6
2.7
6.1
0.7
1.5
12.7
0.5
2.2
12.5
1.5
5.1
10.1
2.1
5.9
5.1
3.7
5.3
4.0
5.9
4.3
4.6
4.5
3.3
2.6
3.9
3.2
1.0
4.6
3.6
11.4
0.6
1.9
3.2
0.7
0.4
6.0
0.1
0.9
9.9
1.2
1.7
9.0
1.1
3.5
6.9
1.2
4.0
4.2
0.3
2.7
1.9
0.2
3.2
2.2
0.1
2.8
0.6
0.4
3.0
1.1
0.9
3.4
3.2
1.9
2.4
2.9
3.2
2.9
2.7
2.5
2.0
2.3
2.4
3.7
4.2
2.7
3.9
5.6
5.3
3.2
4.4
5.1
4.5
3.2
0.1
1.3
0.9
13.9
0.2
0.1
2.2
2.1
0.4
0.0
1.5
6.7
0.4
0.4
1.9
13.7
0.5
1.2
2.1
13.6
0.5
1.7
2.2
10.9
0.5
1.6
2.5
5.6
0.3
2.1
4.4
4.4
0.3
2.2
3.6
5.0
0.2
2.3
3.4
2.8
0.0
1.9
3.8
1.0
Table A10. Summary of Current Account Balances (continued)

(Percent of exports of goods and services)
Advanced Economies
United States
Euro Area
Germany
France
Italy
Spain
Japan
United Kingdom
Canada
Economies
Regional Groups
Russia
Excluding Russia
China
India
ASEAN-53
Brazil
Mexico
Pakistan
Sub-Saharan Africa
South Africa
Analytical Groups
Fuel
Nonfuel
Memorandum
World
European Union
1Excludes
2Georgia,
2008
2009
2010
2011
2012
2013
2014
2015
2016
Projections
2017
2021
4.5
37.5
5.0
12.9
3.3
10.6
36.5
16.0
13.1
0.3
5.1
0.8
24.3
1.0
15.2
3.4
8.6
18.9
21.7
11.2
10.4
7.9
0.0
23.8
1.7
13.3
3.1
13.5
15.3
25.4
9.7
12.4
8.7
0.3
21.6
1.7
13.6
3.4
11.1
11.0
13.9
5.9
9.1
6.9
0.0
20.1
5.1
15.3
4.1
1.3
0.8
6.5
12.3
11.9
7.1
1.5
16.0
8.4
14.8
2.9
3.3
4.7
5.5
14.8
10.4
8.6
1.5
16.5
9.4
16.0
3.5
6.5
3.0
4.2
16.6
7.2
9.0
2.2
20.5
11.4
18.1
0.6
7.3
4.2
17.3
19.6
10.0
10.3
2.4
21.2
...
18.6
1.5
7.1
5.8
22.2
21.4
12.1
10.0
2.0
21.6
...
17.3
1.2
6.0
5.0
20.9
14.8
10.0
9.1
1.3
19.5
...
14.4
1.0
2.5
4.8
19.8
13.3
8.1
7.5
9.5
4.3
4.0
4.5
3.9
2.0
2.3
0.3
0.8
1.5
2.3
13.7
19.9
1.7
16.5
28.1
9.5
4.2
22.8
4.2
13.5
6.6
8.2
14.7
4.1
12.4
19.5
13.8
10.7
10.3
4.2
14.6
3.6
10.4
15.3
0.8
8.3
14.8
12.6
5.9
14.8
9.7
32.7
1.7
12.3
17.0
3.6
2.8
6.8
17.3
5.5
17.3
9.4
26.3
3.8
7.4
12.1
1.2
3.3
9.9
19.4
0.7
11.9
11.0
26.4
4.4
2.0
5.6
4.9
2.6
6.3
6.9
0.4
9.7
13.3
26.8
7.7
6.7
10.2
0.5
6.6
11.0
5.6
2.4
7.5
15.4
39.5
6.3
9.4
17.5
7.2
8.6
13.6
5.3
3.5
4.5
17.2
26.3
8.1
4.3
11.2
9.2
6.6
11.4
7.3
2.9
4.6
11.0
6.1
7.4
6.2
13.0
7.2
3.7
8.2
10.1
1.8
6.8
11.3
10.7
7.4
12.4
17.5
3.3
0.5
4.8
11.1
0.8
8.7
11.0
9.3
6.8
23.0
0.9
15.5
3.0
9.4
9.8
13.4
2.3
5.2
26.9
1.5
7.3
24.5
4.9
17.3
20.9
6.9
19.0
12.6
13.4
17.0
9.9
25.3
14.1
11.8
19.0
9.6
5.9
15.5
9.0
1.8
18.0
10.6
25.9
2.1
5.9
8.5
2.8
1.6
15.8
0.5
3.1
24.5
4.1
6.0
21.7
3.8
13.6
17.4
4.3
16.0
11.8
1.2
10.9
4.8
1.0
14.9
6.0
0.5
12.3
0.6
1.7
13.5
4.5
4.1
17.1
10.8
7.4
9.1
10.2
11.2
10.2
9.6
9.2
7.5
8.5
8.8
10.3
14.9
8.8
12.3
19.3
19.3
12.7
21.0
27.6
20.7
14.9
0.3
3.3
2.9
24.6
0.9
0.4
8.3
3.9
1.4
0.0
5.0
14.0
1.4
1.0
5.8
27.4
1.5
2.7
6.8
25.2
1.7
3.9
7.3
21.4
1.8
3.8
8.9
13.1
1.3
4.8
16.7
10.0
1.2
5.0
13.3
12.0
0.7
5.0
11.9
5.7
0.1
4.0
12.3
1.6
the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and euro area countries.
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.
3Indonesia, Malaysia, Philippines, Thailand, Vietnam.
245
Table A11. Advanced Economies: Balance on Current Account

(Percent of GDP)
Advanced Economies
United States
Euro Area1
Germany
France
Italy
Spain
Netherlands
Belgium
Austria
Greece
Portugal
Ireland
Finland
Slovak Republic
Lithuania
Slovenia
Luxembourg
Latvia
Estonia
Cyprus
Malta
Japan
United Kingdom
Korea
Canada
Australia
Switzerland
Sweden
Singapore
Hong Kong SAR
Norway
Czech Republic
Israel
Denmark
New Zealand
Puerto Rico
Macao SAR
Iceland
San Marino
Memorandum
Euro Area2
1Data
2Data
2008
2009
2010
2011
2012
2013
2014
2015
2016
Projections
2017
2021
1.3
4.7
1.1
5.6
0.9
2.9
9.3
4.1
1.0
4.5
15.1
12.1
6.3
2.2
6.4
13.3
5.3
7.7
12.4
8.7
15.6
1.1
2.9
3.5
0.3
0.1
4.9
6.6
3.0
7.8
14.6
15.0
15.7
1.9
1.0
2.7
7.8
...
16.0
22.8
...
0.2
2.7
0.2
5.7
0.8
1.9
4.3
5.8
1.1
2.6
12.3
10.4
4.7
1.9
3.5
2.1
0.6
7.4
8.1
2.5
7.7
6.6
2.9
3.0
3.7
2.9
4.6
10.9
8.0
6.0
17.0
9.9
10.6
2.3
3.5
3.3
2.2
...
28.2
9.7
...
0.0
3.0
0.4
5.6
0.8
3.4
3.9
7.4
1.8
2.9
11.4
10.1
1.2
1.2
4.7
0.3
0.1
6.8
2.3
1.8
10.7
4.7
4.0
2.7
2.6
3.6
3.6
8.9
14.9
6.0
23.8
7.0
10.9
3.6
3.6
5.7
2.3
...
39.4
6.6
...
0.1
3.0
0.4
6.1
1.0
3.0
3.2
9.1
1.1
1.6
10.0
6.0
1.6
1.8
5.0
3.9
0.2
6.2
2.8
1.3
4.0
2.5
2.2
1.8
1.6
2.8
2.9
8.2
7.7
5.5
22.8
5.6
12.4
2.1
2.3
5.7
2.8
...
41.0
5.3
...
0.0
2.8
1.3
7.0
1.2
0.4
0.2
10.8
0.1
1.5
3.8
1.8
2.6
1.9
0.9
1.2
2.6
6.1
3.3
2.4
5.6
1.3
1.0
3.7
4.2
3.6
4.2
9.5
10.3
5.6
18.1
1.6
12.4
1.6
0.5
5.7
3.9
...
39.3
4.2
...
0.5
2.2
2.2
6.7
0.9
0.9
1.5
9.8
0.2
1.9
2.0
1.5
2.1
1.6
2.0
1.5
4.8
5.7
2.4
0.1
4.5
3.6
0.9
4.4
6.2
3.2
3.4
10.4
11.1
5.3
17.9
1.5
10.2
0.5
3.6
7.1
3.2
...
40.2
5.7
...
0.5
2.3
2.5
7.3
1.1
1.9
1.0
8.9
0.2
1.9
2.1
0.1
1.7
0.9
0.1
3.6
6.2
5.5
2.0
1.0
4.6
3.4
0.8
4.7
6.0
2.3
2.9
12.0
8.8
4.6
17.5
1.3
11.9
0.2
4.0
7.7
3.1
...
34.4
3.7
...
0.6
2.6
3.2
8.4
0.2
2.2
1.4
8.6
0.0
2.6
0.0
0.4
10.2
0.1
1.3
1.7
5.2
5.5
1.2
2.1
3.6
9.9
3.3
5.4
7.7
3.2
4.7
14.6
11.4
5.2
19.8
3.1
9.0
0.9
4.6
7.0
3.2
...
28.0
4.2
...
0.7
2.5
3.4
8.6
0.5
2.2
1.9
9.1
0.1
2.6
0.0
0.0
9.5
0.1
1.0
1.6
7.7
4.4
2.0
0.6
0.9
6.2
3.7
5.9
7.2
3.7
3.5
15.0
9.2
5.0
19.3
2.8
7.0
1.5
3.1
6.7
3.0
...
28.4
2.9
...
0.6
2.7
3.1
8.1
0.4
1.9
1.7
8.2
0.4
2.7
0.0
0.7
9.1
0.2
0.6
2.8
7.2
4.3
1.2
0.0
3.7
5.8
3.3
4.3
5.9
3.1
3.9
14.4
9.0
5.3
19.3
2.9
7.6
1.0
2.9
6.6
3.5
...
29.2
1.9
...
0.4
2.7
2.8
7.2
0.3
0.9
1.8
6.9
1.5
2.3
0.0
1.6
8.6
0.2
2.1
2.7
3.7
4.4
1.3
2.4
4.3
5.2
3.3
3.8
5.2
2.5
4.0
13.9
8.5
4.3
15.7
3.4
7.2
0.8
2.0
5.9
4.1
...
30.4
1.1
...
1.6
0.7
0.7
0.4
0.8
0.5
0.8
0.8
1.0
2.2
0.7
2.8
0.7
3.0
0.6
3.8
0.5
3.9
0.5
3.6
0.6
3.3
corrected for reporting discrepancies in intra-area transactions.

calculated as the sum of the balances of individual euro area countries.
246
Table A12. Emerging Market and Developing Economies: Balance on Current Account
(Percent of GDP)
States1
Commonwealth of Independent
Russia
Excluding Russia
Armenia
Azerbaijan
Belarus
Georgia
Kazakhstan
Kyrgyz Republic
Moldova
Tajikistan
Turkmenistan
Ukraine 2
Uzbekistan
Bangladesh
Bhutan
Brunei Darussalam
Cambodia
China
Fiji
India
Indonesia
Kiribati
Lao P.D.R.
Malaysia
Maldives
Marshall Islands
Micronesia
Mongolia
Myanmar
Nepal
Palau
Papua New Guinea
Philippines
Samoa
Solomon Islands
Sri Lanka
Thailand
Timor-Leste
Tonga
Tuvalu
Vanuatu
Vietnam
Albania
Bulgaria
Croatia
Hungary
Kosovo
FYR Macedonia
Montenegro
Poland
Romania
Serbia
Turkey
2008
2009
2010
2011
2012
2013
2014
2015
2016
Projections
2017
2021
4.7
5.8
0.9
14.2
35.5
8.2
22.0
4.7
14.3
16.1
7.7
16.5
6.8
8.7
5.7
1.2
8.6
43.4
6.6
9.1
15.1
2.3
0.0
6.4
19.3
16.5
28.9
0.5
16.5
8.9
4.2
2.7
20.0
6.1
0.1
5.8
18.2
9.5
0.3
45.5
11.5
7.1
10.8
11.0
8.0
15.8
14.1
22.0
8.8
7.1
16.2
12.8
49.8
6.8
11.8
21.0
5.4
2.5
3.8
1.8
16.5
23.0
12.6
10.5
3.6
0.9
8.2
5.9
14.7
1.4
2.2
3.4
2.4
6.3
32.3
6.9
4.7
4.2
2.8
1.8
13.3
22.0
15.0
10.5
14.2
18.8
6.9
1.2
4.2
7.7
8.4
5.0
4.7
21.9
0.5
7.3
37.9
20.9
6.9
7.9
6.5
3.5
15.9
6.4
8.4
5.1
0.8
9.2
6.8
27.9
4.1
4.8
6.2
1.8
3.3
4.1
0.4
13.6
28.0
15.0
10.2
0.9
2.2
7.5
1.1
10.6
2.2
6.2
2.4
0.4
22.2
36.6
6.8
3.9
4.5
2.8
0.7
2.2
18.8
10.1
8.2
26.5
15.0
13.0
1.1
2.4
6.7
20.5
3.6
7.6
33.4
2.2
2.9
39.3
19.1
11.9
5.4
3.8
5.1
11.3
6.1
1.7
1.1
0.3
11.7
2.0
22.7
5.4
5.1
6.4
6.1
4.1
4.8
1.8
10.4
26.5
8.5
12.8
5.1
2.9
10.7
4.8
2.0
6.3
5.8
0.8
1.0
29.8
34.7
10.2
1.8
5.1
4.3
0.2
13.4
18.4
10.9
16.5
1.0
17.8
26.5
1.8
1.0
9.2
24.0
2.5
5.1
8.7
7.8
2.4
39.4
15.1
36.5
8.1
0.2
6.5
13.2
9.5
0.3
0.8
0.7
13.7
2.5
17.6
5.2
4.9
8.6
9.6
2.4
3.3
0.6
10.0
20.2
2.9
11.7
0.5
3.7
7.5
2.5
0.0
8.1
1.8
1.0
0.7
21.5
29.8
11.0
2.5
1.3
4.8
2.7
4.5
29.3
5.2
7.3
3.4
12.6
27.4
4.0
4.8
8.7
36.1
2.8
8.5
1.8
6.7
0.4
40.2
8.6
17.2
6.5
6.0
4.6
10.1
8.7
0.9
0.1
1.8
7.5
3.2
18.5
3.7
4.8
11.5
6.1
0.6
1.5
2.1
7.3
16.4
10.4
5.8
0.4
1.1
5.1
2.9
7.2
9.2
2.9
0.7
1.2
25.4
20.9
12.3
1.5
9.8
1.7
3.2
8.2
28.9
3.5
4.5
9.9
10.0
25.4
4.9
3.3
9.3
31.5
4.2
0.2
3.5
3.8
1.2
42.4
6.2
1.2
3.3
4.5
3.8
10.8
5.3
1.3
0.8
4.0
6.4
1.6
14.5
1.3
1.1
6.1
7.7
2.1
2.8
0.2
7.6
13.9
6.9
10.6
2.6
17.8
3.8
2.8
7.5
3.9
0.7
1.8
0.9
26.4
31.9
12.1
2.6
7.5
1.3
3.1
24.0
22.8
4.4
3.9
4.4
6.8
11.5
5.6
4.5
11.8
3.0
3.8
7.3
4.3
2.7
3.8
26.2
9.4
19.3
0.3
5.1
3.1
12.9
7.5
0.9
0.9
2.0
7.9
0.8
15.2
2.0
0.5
6.0
5.5
3.0
5.2
2.6
2.7
0.4
3.8
11.7
2.4
10.4
4.7
6.0
10.3
0.3
0.1
2.1
0.7
28.8
12.0
10.6
3.0
5.4
1.1
2.1
44.9
23.1
3.0
9.5
3.2
1.0
4.8
7.8
5.0
0.5
10.1
2.9
3.7
2.6
2.5
7.8
8.3
8.0
7.6
11.1
0.5
1.9
11.2
5.6
1.4
5.2
4.4
8.7
1.4
9.7
0.2
1.1
4.8
4.5
1.3
3.0
3.7
2.5
0.7
4.9
12.1
2.2
15.0
2.8
5.0
18.5
1.5
0.1
1.6
0.1
27.8
4.3
10.2
2.4
7.2
1.4
2.3
7.2
18.0
1.2
11.9
7.6
0.1
11.1
8.3
3.9
5.3
7.5
1.8
3.3
4.4
1.5
9.6
9.9
7.6
4.0
16.6
0.4
2.0
13.3
5.1
0.8
3.0
4.9
9.6
1.8
10.3
0.1
2.0
4.2
4.4
1.9
3.5
2.9
3.0
3.1
4.8
12.0
0.0
14.9
3.4
5.0
18.0
2.1
0.2
0.8
0.7
31.5
4.1
9.4
1.6
7.0
2.0
2.3
2.5
17.6
1.5
14.1
9.4
0.7
19.2
8.1
0.9
7.0
6.1
1.4
3.0
7.7
2.8
7.7
11.6
11.5
5.7
21.1
0.1
3.0
13.8
6.0
0.0
2.2
4.6
9.1
2.4
11.8
1.0
2.8
3.9
5.6
3.6
4.5
1.3
4.7
11.3
3.3
8.6
3.9
9.5
4.5
3.5
6.7
2.2
0.5
0.1
2.0
5.3
15.1
8.6
0.8
5.7
2.2
2.3
2.2
13.7
1.5
9.8
11.2
2.9
9.9
5.7
4.2
4.9
3.2
0.2
3.1
3.3
3.3
2.2
8.4
8.7
1.9
5.6
0.7
3.8
10.9
5.0
1.7
0.7
1.4
8.8
3.0
6.8
2.6
3.2
3.9
5.6
247
Table A12. Emerging Market and Developing Economies: Balance on Current Account (continued)
(Percent of GDP)

Antigua and Barbuda
Argentina3
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
Suriname
Trinidad and Tobago
Uruguay
Venezuela
and Pakistan
Afghanistan
Algeria
Bahrain
Djibouti
Egypt
Iran
Iraq
Jordan
Kuwait
Lebanon
Libya
Mauritania
Morocco
Oman
Pakistan
Qatar
Saudi Arabia
Sudan 4
Syria5
Tunisia
Yemen
248
2008
2009
2010
2011
2012
2013
2014
2015
2016
Projections
2017
2021
1.0
26.7
1.8
10.6
10.6
10.6
11.9
1.8
3.2
2.6
9.1
28.3
9.4
2.9
7.1
29.0
3.6
13.7
3.1
15.4
17.7
1.9
17.8
10.8
1.0
4.3
26.8
28.6
33.1
9.2
30.5
5.7
10.8
0.8
14.0
2.5
10.3
6.6
4.9
4.3
1.6
2.0
2.0
1.9
22.7
4.8
0.5
1.5
24.3
0.7
9.1
1.9
3.8
11.0
1.0
8.7
0.8
3.0
0.5
25.7
11.6
29.2
2.9
8.5
1.2
0.2
1.9
14.7
0.3
10.1
5.7
2.5
3.9
3.4
1.7
3.0
3.4
15.9
7.4
2.3
2.5
23.7
1.4
9.6
1.5
4.3
8.0
0.5
9.0
10.8
0.3
2.4
20.8
16.3
30.6
13.0
18.9
1.8
1.9
2.0
10.4
0.8
15.1
12.8
1.1
0.3
2.9
1.2
2.9
5.3
14.1
7.5
0.5
4.8
23.6
3.4
13.0
4.3
8.0
12.2
1.2
12.1
13.2
0.4
1.9
15.9
19.0
29.4
5.7
11.4
2.7
4.9
2.3
14.6
0.2
17.9
9.3
1.2
7.2
3.0
3.5
3.1
5.2
17.3
6.6
0.2
5.4
21.1
2.6
11.6
5.7
8.6
11.1
1.4
10.5
10.5
2.0
2.7
9.8
13.6
27.6
3.3
3.2
5.1
0.8
2.8
14.6
2.0
17.5
9.1
4.6
2.4
3.0
3.7
3.2
5.0
9.7
4.1
1.0
6.5
23.2
2.5
13.3
6.3
9.6
9.2
2.5
10.9
9.8
1.7
4.2
13.4
11.4
30.9
3.8
7.3
5.0
2.0
3.2
14.8
1.4
22.0
9.9
7.4
0.2
4.3
1.3
5.1
4.7
11.1
3.3
0.6
5.2
16.5
2.1
10.7
6.3
7.4
7.7
2.0
7.7
9.8
0.4
4.0
12.1
6.8
29.6
8.0
4.6
4.5
1.7
3.6
10.2
2.5
16.0
7.2
9.8
5.8
3.3
2.0
6.4
4.0
9.3
1.9
2.2
3.6
15.9
0.3
5.7
2.5
6.3
3.4
2.9
8.2
6.5
1.7
4.4
12.3
3.7
26.2
15.7
5.4
3.5
7.8
2.3
9.4
2.3
11.4
5.3
12.4
6.6
0.8
1.9
5.2
4.5
13.1
2.4
1.5
2.1
12.7
0.5
2.1
0.4
5.7
3.3
2.7
8.0
5.5
0.6
3.8
17.2
6.7
23.0
4.2
8.7
2.9
3.4
2.3
10.2
3.2
10.7
6.0
9.9
4.9
1.3
2.4
4.2
4.5
14.2
2.7
0.9
2.9
14.1
0.7
0.4
1.0
5.7
3.6
2.8
8.7
4.9
0.5
3.1
19.4
6.7
22.0
4.2
7.2
3.1
0.9
2.3
11.4
4.2
7.3
7.5
8.0
2.0
1.1
2.7
3.3
4.5
10.0
4.0
0.9
4.4
15.4
1.9
3.8
1.3
5.0
3.8
2.7
10.4
2.3
0.6
2.2
17.4
7.4
16.0
1.7
4.0
3.5
0.7
12.4
2.7
20.1
8.8
24.3
1.4
5.2
15.9
9.4
40.9
10.5
42.5
12.0
7.1
8.5
8.1
23.1
25.5
1.6
1.3
3.8
7.1
4.6
1.6
13.1
0.3
2.4
9.7
3.8
2.2
6.8
5.2
26.7
11.9
14.9
22.2
5.4
1.1
5.5
6.5
4.9
9.6
2.9
2.8
3.1
10.1
6.1
7.5
7.5
3.0
0.7
1.9
4.4
3.0
7.1
31.8
20.7
19.5
14.6
4.4
8.6
2.2
19.1
12.7
2.1
2.8
4.8
4.3
3.4
12.7
6.0
9.9
8.8
13.7
2.5
10.6
12.0
10.3
42.9
15.1
9.1
10.6
7.6
13.1
0.1
30.7
23.7
0.4
...
7.4
12.7
3.0
12.5
5.9
5.9
8.4
20.3
3.7
6.1
6.7
15.2
45.5
23.9
29.1
31.5
9.3
10.3
2.1
32.6
22.4
9.3
...
8.3
19.8
1.7
10.1
8.7
0.4
7.4
23.3
2.2
7.0
1.4
10.3
39.9
26.7
13.5
28.6
7.6
6.7
1.1
29.9
18.2
8.7
...
8.4
19.1
3.1
5.1
2.4
4.4
4.6
25.6
0.8
3.8
0.8
6.8
33.3
28.1
27.8
33.3
5.7
5.7
1.3
23.5
9.8
7.0
...
9.1
10.0
1.7
4.0
4.7
16.5
3.1
30.7
3.7
2.1
7.2
9.0
5.2
21.0
42.1
27.0
1.9
17.5
1.0
8.2
8.3
7.8
...
8.8
3.3
5.5
4.6
4.5
15.1
4.7
17.2
5.8
4.2
10.8
9.0
3.6
20.4
47.4
21.9
1.2
21.3
0.9
1.8
6.6
5.9
...
8.0
1.1
6.1
2.6
1.1
13.7
3.8
14.4
5.2
3.3
3.6
8.9
8.4
20.6
36.9
24.9
1.4
17.6
1.5
0.0
2.6
4.9
...
6.9
3.2
2.8
1.0
3.9
6.3
1.9
18.5
2.2
3.8
0.8
6.2
9.2
19.7
19.0
21.5
1.3
8.3
0.9
0.3
1.2
3.5
...
4.0
2.1
3.7
Table A12. Emerging Market and Developing Economies: Balance on Current Account (continued)
(Percent of GDP)
Sub-Saharan Africa
Angola
Benin
Botswana
Burkina Faso
Burundi
Cabo Verde
Cameroon
Chad
Comoros
Republic of Congo
Cte dIvoire
Equatorial Guinea
Eritrea
Ethiopia
Gabon
The Gambia
Ghana
Guinea
Guinea-Bissau
Kenya
Lesotho
Liberia
Madagascar
Malawi
Mali
Mauritius
Mozambique
Namibia
Niger
Nigeria
Rwanda
So Tom and Prncipe
Senegal
Seychelles
Sierra Leone
South Africa
South Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe 6
2008
2009
2010
2011
2012
2013
2014
2015
2016
Projections
2017
0.3
8.5
7.5
1.1
11.5
1.0
13.7
1.2
9.9
3.7
10.4
0.8
0.5
1.9
21.9
5.5
6.7
21.6
12.2
11.9
10.2
2.5
5.5
21.1
46.6
20.6
15.1
13.7
10.1
9.9
0.1
12.0
8.8
5.1
33.1
14.2
18.5
9.0
5.5
...
7.1
7.8
7.0
7.1
3.3
16.7
2.6
10.0
8.3
6.3
4.7
1.7
14.6
3.5
9.1
9.2
6.2
6.1
14.1
6.6
8.4
7.6
6.7
4.4
12.5
5.5
8.2
5.4
4.6
3.9
23.2
21.1
10.2
10.8
7.4
10.9
1.5
24.4
4.7
7.1
23.2
6.7
14.8
13.3
2.7
...
11.6
7.6
5.6
5.7
6.0
43.6
0.7
9.1
8.2
2.6
2.2
12.2
12.4
2.8
10.2
9.0
0.2
10.5
7.5
1.9
19.4
5.6
1.4
14.9
16.3
8.6
9.3
8.7
5.9
10.0
32.0
9.7
8.6
10.7
10.3
16.1
3.5
19.8
3.9
7.3
21.7
4.4
19.4
22.7
1.5
...
8.6
7.7
6.3
8.0
7.5
13.3
0.5
12.6
7.3
3.1
1.5
14.4
16.3
3.0
7.6
5.6
4.9
5.2
4.9
10.4
6.7
0.6
2.5
15.2
12.3
9.0
24.7
4.2
9.1
14.7
27.5
6.9
8.6
5.1
13.8
25.3
3.0
22.3
3.0
7.5
25.5
8.1
23.0
65.0
2.2
18.4
6.8
10.8
8.0
10.0
4.7
22.2
1.5
12.0
7.4
1.1
7.2
18.6
12.6
3.6
4.6
8.7
7.2
4.6
17.7
1.2
4.1
2.3
6.9
15.9
7.9
11.7
26.0
11.8
8.4
9.8
21.5
6.9
9.3
2.2
7.3
44.7
5.7
14.7
4.4
11.4
21.3
10.8
21.1
31.8
5.1
15.9
3.1
11.6
7.5
6.8
5.4
14.6
2.1
6.7
8.0
9.3
11.0
19.3
4.9
3.9
3.0
9.2
8.1
1.8
1.6
2.0
0.1
0.1
5.9
11.6
10.2
11.9
16.9
7.4
8.8
10.3
28.4
5.9
8.7
2.9
6.3
42.9
4.0
15.0
3.9
7.4
13.8
10.4
12.1
17.5
5.9
1.2
5.1
10.6
13.1
7.0
0.6
18.2
3.7
2.9
8.7
15.6
8.0
18.5
9.0
4.3
5.6
9.0
6.3
4.0
3.3
1.5
5.6
0.6
7.9
8.1
10.9
9.6
17.3
3.3
10.3
7.9
32.7
0.3
8.5
4.7
5.7
38.2
10.7
14.1
0.2
10.5
22.6
8.9
23.0
18.2
5.3
2.1
3.3
9.5
9.9
8.7
2.1
15.2
5.9
8.5
10.5
7.2
6.4
15.9
4.3
4.2
9.0
12.4
0.8
3.7
21.0
1.8
16.8
2.2
12.0
2.3
15.2
7.5
18.7
1.1
6.8
8.7
34.7
1.9
8.3
5.1
4.9
39.0
12.9
17.2
3.1
13.5
17.2
7.6
18.6
15.5
4.3
11.1
9.2
8.8
7.1
9.4
3.5
10.7
4.5
5.4
10.0
4.1
6.0
4.6
7.7
4.2
10.0
8.7
9.0
0.8
8.2
1.8
11.8
0.2
10.7
5.3
12.7
6.3
13.2
1.7
6.4
8.0
30.5
2.3
15.8
6.0
4.3
33.5
12.4
17.8
0.7
16.6
12.7
8.4
18.7
16.2
3.3
0.5
4.9
8.8
8.0
8.7
4.5
7.5
3.9
5.4
11.8
3.7
5.0
9.6
9.2
4.0
9.7
7.8
9.7
5.2
2.1
2.1
6.7
0.9
9.3
4.7
13.7
6.0
11.3
2.8
6.1
9.0
26.5
3.7
9.3
5.2
4.5
28.3
6.9
17.5
0.4
11.9
13.3
8.2
18.3
16.3
3.2
8.6
2.4
8.8
8.2
8.9
2.2
6.1
2021
4.6
2.5
8.8
11.1
8.0
17.6
7.3
4.8
6.6
5.9
13.7
7.1
0.5
2.7
3.5
1.4
7.8
2.7
13.7
4.3
17.7
2.9
5.7
22.9
25.6
4.0
8.1
5.8
4.9
146.4
6.9
12.3
0.1
10.7
8.7
6.2
16.5
15.2
3.6
11.0
0.6
7.9
9.1
7.2
2.9
9.6
structure.
2Starting in 2014 data exclude Crimea and Sevastopol.
6The Zimbabwe dollar ceased circulating in early 2009. Data are based on IMF staff estimates of price and exchange rate developments in U.S. dollars. IMF staff estimates of U.S. dollar
values may differ from authorities estimates.
249
Table A13. Summary of Financial Account Balances

Advanced Economies
Financial Account Balance
Direct Investment, Net
Portfolio Investment, Net
Financial Derivatives, Net
Other Investment, Net
Change in Reserves
United States
Change in Reserves
Euro Area
Change in Reserves
Germany
Change in Reserves
France
Change in Reserves
Italy
Change in Reserves
250
2008
2009
2010
2011
2012
2013
2014
2015
Projections
2016
2017
699.1
657.4
1,212.9
323.2
563.9
76.5
19.3
311.7
377.6
91.9
287.8
469.7
86.0
346.1
738.5
118.1
62.9
352.8
191.7
376.9
904.3
0.7
41.9
350.7
105.2
133.8
202.0
89.6
222.7
274.0
246.8
81.8
328.8
18.4
323.2
153.2
437.1
197.5
143.5
50.3
298.2
135.3
539.7
6.6
162.1
46.9
190.9
227.4
410.9
184.4
152.9
32.6
21.7
86.4
272.2
255.2
27.8
42.9
14.8
74.3
730.6
19.0
808.0
32.9
20.6
4.8
231.0
159.9
18.5
44.8
416.9
52.3
437.0
95.2
620.8
14.1
100.9
1.8
515.8
183.0
226.3
35.0
453.4
15.9
440.5
135.2
498.3
7.1
89.0
4.5
391.0
117.7
30.7
2.2
477.1
3.1
287.4
136.1
119.2
54.3
246.3
3.6
195.2
30.8
97.0
25.4
35.8
6.3
377.3
81.0
466.0
0.0
9.0
1.2
530.6
79.1
600.2
22.4
13.0
0.0
470.1
336.6
356.0
34.9
420.5
4.7
28.5
66.4
350.3
15.1
239.1
58.1
69.6
83.4
109.8
4.3
53.0
14.1
153.1
139.0
454.5
5.5
142.3
14.7
150.1
14.4
181.3
42.0
256.0
19.0
465.1
77.7
5.1
19.4
522.3
6.2
492.1
79.2
150.6
56.9
199.6
5.8
304.7
120.9
223.4
94.2
145.6
11.7
...
...
...
...
...
...
...
...
...
...
...
...
179.9
67.1
44.5
44.0
110.6
2.7
184.4
43.0
119.2
7.5
17.4
12.4
123.7
60.6
154.1
17.6
110.7
2.1
167.7
10.3
51.4
39.8
165.1
3.9
185.8
33.6
66.8
30.9
52.7
1.7
291.3
28.1
212.8
31.9
17.4
1.2
323.9
105.6
180.6
42.1
1.0
3.3
250.0
62.6
220.3
28.7
59.2
2.4
301.4
23.0
265.7
34.6
21.8
0.0
291.7
23.8
257.1
33.5
22.7
0.0
26.9
66.0
37.8
24.1
86.5
12.5
30.7
70.3
328.7
23.6
212.0
5.5
34.2
34.3
155.0
34.8
105.1
7.7
74.6
19.8
333.7
19.4
240.3
7.7
48.0
19.4
50.6
18.4
3.6
5.2
19.2
13.9
79.3
22.3
98.2
1.9
10.0
47.9
23.8
31.5
3.6
1.0
7.8
2.1
60.1
12.0
85.7
8.0
9.2
2.0
57.5
15.3
86.2
2.3
7.4
6.1
51.9
19.3
87.1
2.3
45.7
76.2
110.7
0.4
19.0
8.2
54.5
0.3
55.4
6.9
0.7
8.8
111.2
21.3
58.4
6.6
198.9
1.4
89.6
17.2
15.9
10.1
113.9
1.3
13.1
6.8
31.3
7.5
2.1
1.9
16.9
0.9
17.5
4.0
27.5
2.0
66.8
3.3
1.4
4.8
68.1
1.3
36.7
7.3
99.4
3.7
74.3
0.6
42.1
7.6
28.1
0.0
6.4
0.0
37.4
8.0
10.4
0.0
19.0
0.0
Table A13. Summary of Financial Account Balances (continued)

Spain
Change in Reserves
Japan
Change in Reserves
United Kingdom
Change in Reserves
Canada
Change in Reserves
Other Advanced Economies 1
Change in Reserves
Economies
Change in Reserves
2008
2009
2010
2011
2012
2013
2014
2015
Projections
2016
2017
149.8
2.3
1.9
10.4
160.8
0.9
72.8
2.7
69.6
8.4
20.4
6.0
58.9
1.9
46.6
11.4
0.0
1.1
43.4
12.8
43.1
2.9
116.2
13.9
0.5
27.2
53.7
10.7
18.2
2.8
44.1
19.1
59.1
1.4
120.2
0.7
26.8
12.4
13.0
1.5
20.7
5.2
24.9
26.7
23.2
1.4
29.3
5.6
31.2
26.8
22.8
0.0
27.2
0.0
29.7
27.3
21.4
0.0
23.8
0.0
181.6
89.1
289.0
24.9
202.3
30.8
168.8
61.2
211.7
10.5
120.9
27.2
247.3
72.5
147.9
11.9
5.5
44.3
158.4
117.8
162.9
17.1
43.4
177.3
53.9
117.5
28.8
6.7
61.1
37.9
4.3
144.7
280.6
58.1
34.8
38.7
58.6
118.3
42.2
34.0
60.1
8.5
174.8
131.0
131.7
17.7
110.7
5.1
172.8
116.7
257.6
34.6
176.4
9.5
167.7
129.9
247.0
18.7
200.5
10.0
72.8
106.9
454.8
225.5
52.2
2.5
45.4
61.0
48.5
45.5
100.6
9.0
46.8
10.1
21.3
39.4
28.0
9.4
37.6
53.4
11.4
4.8
115.1
7.9
83.7
34.9
338.3
58.6
340.6
12.1
122.9
11.2
86.8
18.1
50.7
7.8
129.5
193.4
204.4
1.0
257.5
11.7
152.1
115.0
405.8
48.6
385.1
32.2
158.2
53.0
26.5
15.0
129.2
12.5
113.2
13.0
52.2
17.9
147.5
13.0
3.0
17.7
47.6
...
25.3
1.6
41.6
16.9
91.0
...
22.3
10.2
58.3
6.3
109.9
...
41.4
3.9
49.4
12.5
104.3
...
34.3
8.1
62.7
12.8
63.8
...
13.4
1.7
54.6
16.9
21.4
...
21.1
4.7
39.1
2.8
17.1
...
24.4
5.3
44.2
25.0
25.6
...
52.2
8.5
56.7
7.2
17.8
...
31.7
0.0
50.1
2.1
13.4
...
38.7
0.0
62.9
17.7
178.4
12.6
166.2
44.8
150.7
21.7
106.9
20.0
114.0
332.5
287.9
94.3
50.7
17.9
17.1
279.3
295.4
6.7
42.7
41.0
93.4
125.1
265.7
23.4
139.7
28.8
97.7
275.3
371.7
18.0
121.4
28.8
160.8
101.4
368.5
22.4
184.6
33.9
134.0
106.8
375.7
106.2
334.4
22.0
8.2
176.7
344.4
0.3
241.7
27.5
67.8
64.1
329.6
7.1
211.2
30.0
93.9
48.8
605.8
467.8
124.8
...
229.2
713.3
68.9
328.0
85.1
...
40.0
521.1
136.0
455.8
235.1
...
8.1
834.1
255.8
534.4
142.8
...
183.1
749.0
107.6
481.6
245.0
...
424.6
411.8
80.7
470.1
139.4
...
129.1
576.3
5.4
417.2
118.0
...
414.8
118.4
215.9
323.4
125.3
...
526.9
544.8
30.2
246.4
48.5
...
398.3
225.5
86.1
171.6
65.0
...
188.4
29.8
251

Regional Groups
Change in Reserves
Change in Reserves
Change in Reserves
Change in Reserves
Middle East, North Africa,
Afghanistan, and Pakistan
Change in Reserves
Sub-Saharan Africa
Change in Reserves
252
Projections
2016
2017
2008
2009
2010
2011
2012
2013
2014
2015
111.3
49.4
35.8
...
140.7
17.0
36.7
17.2
6.1
...
46.0
10.8
89.9
9.4
14.3
...
50.9
60.9
116.2
16.1
17.9
...
81.2
31.9
51.2
27.9
3.5
...
61.8
12.2
28.2
3.6
17.4
...
48.8
42.0
5.4
19.4
23.4
...
82.9
131.3
62.3
4.7
10.9
...
86.6
39.5
32.7
2.6
0.6
...
32.6
4.0
55.2
3.0
4.9
...
43.4
14.5
467.3
151.4
6.0
...
114.0
497.5
211.3
114.1
67.0
...
67.8
463.0
141.9
224.3
93.3
0.2
103.5
563.9
65.7
277.3
57.9
0.3
28.8
432.0
9.2
221.7
115.5
1.5
208.5
137.7
32.9
273.0
64.6
2.0
78.3
450.8
148.9
203.6
124.0
1.0
280.0
195.9
129.1
128.8
82.8
1.6
493.6
316.6
258.7
35.1
57.4
0.9
401.2
163.5
154.4
46.6
41.9
1.1
193.0
41.3
160.6
63.3
14.4
2.5
120.0
5.9
51.3
30.7
10.1
0.9
42.4
31.0
89.0
27.0
45.4
0.0
52.5
35.9
107.1
40.0
53.2
1.6
30.1
14.6
65.3
27.2
70.2
3.0
7.2
27.9
62.1
25.3
39.9
1.4
14.0
18.5
41.7
31.1
19.2
0.3
8.6
0.1
0.2
24.2
26.1
1.7
9.9
10.3
13.1
30.0
4.3
0.8
8.6
13.5
33.9
32.0
4.2
2.5
5.3
10.1
41.5
103.0
6.1
...
24.9
41.5
31.7
72.9
25.4
...
11.6
54.5
123.7
112.0
106.9
...
4.0
90.5
125.5
147.5
107.2
...
16.3
110.5
162.9
150.7
95.3
...
24.2
59.6
205.9
145.0
107.0
...
38.8
6.4
219.1
141.7
117.7
...
1.5
38.2
209.9
134.6
60.3
...
11.6
32.5
115.7
134.1
33.8
...
54.4
1.9
133.7
133.6
46.4
...
43.3
3.3
235.0
64.3
51.0
...
80.1
168.3
46.9
64.0
32.0
...
15.8
30.7
118.4
49.3
25.0
...
59.4
83.3
313.3
22.9
73.3
...
124.6
138.2
291.6
25.3
57.3
...
105.0
154.7
334.0
8.6
72.1
...
142.1
140.1
180.5
32.8
132.9
...
62.0
24.1
132.8
12.5
73.9
...
61.4
132.2
137.4
23.1
32.0
...
74.0
71.0
78.8
25.2
32.2
...
66.3
17.7
5.7
36.4
23.8
0.0
10.5
17.3
49.3
29.2
8.4
0.2
3.3
7.5
1.5
33.9
0.3
0.2
33.6
0.4
6.8
30.7
15.7
1.7
19.9
21.7
16.1
28.8
24.7
1.7
17.8
19.7
46.4
21.8
17.3
0.8
8.3
2.5
68.6
27.4
13.5
1.5
17.2
8.3
64.5
28.0
8.3
0.4
13.5
13.6
55.4
21.4
2.1
0.3
24.5
6.7
49.3
30.4
0.4
0.3
19.8
1.3

Analytical Groups
Fuel
Change in Reserves
Nonfuel
Change in Reserves
Change in Reserves
Change in Reserves
Memorandum
World
Projections
2016
2017
2008
2009
2010
2011
2012
2013
2014
2015
444.2
88.8
91.0
...
274.8
166.1
14.2
60.7
9.4
...
114.2
51.3
260.9
31.3
20.2
...
153.4
117.1
516.6
31.1
82.8
...
265.0
198.7
445.9
42.8
43.7
...
222.5
221.8
389.5
3.4
72.4
...
226.7
98.1
202.4
11.8
151.8
...
180.8
113.3
103.4
12.8
82.1
...
42.2
215.5
109.6
20.3
27.5
...
20.0
95.1
25.6
18.2
27.5
...
0.3
32.1
157.2
377.6
33.8
...
46.4
542.3
57.2
264.7
94.7
...
154.3
572.7
123.3
422.3
255.3
...
161.2
715.9
260.8
503.4
225.6
...
81.9
550.3
338.3
438.7
288.7
...
202.1
189.9
308.7
473.6
211.8
...
97.6
478.2
207.7
405.4
269.9
...
234.0
231.7
112.4
310.6
43.1
...
484.7
329.4
79.4
226.1
21.0
...
418.2
130.5
60.5
153.5
92.4
...
188.7
2.3
304.8
279.9
33.2
...
140.5
78.1
198.6
203.0
63.6
...
78.5
148.3
290.5
222.2
216.6
...
88.4
237.7
381.2
281.7
185.1
...
60.4
144.7
437.4
273.7
216.8
...
61.5
116.1
401.2
257.8
166.6
...
31.0
57.4
404.1
285.9
203.6
...
33.3
115.2
284.4
263.7
40.5
...
20.2
2.0
213.0
283.1
44.8
...
54.4
63.4
262.2
303.4
81.3
...
31.6
96.3
18.5
28.7
3.5
...
0.4
6.2
17.0
16.5
14.2
...
0.8
13.6
13.6
16.8
10.9
...
3.0
11.3
21.5
15.3
1.1
...
5.7
12.4
41.2
19.9
0.5
...
0.9
21.6
12.8
6.9
8.3
...
11.3
2.1
34.1
9.0
5.4
...
8.0
10.9
20.3
10.0
3.3
...
15.2
8.9
25.9
13.7
1.3
...
13.3
0.5
11.9
16.2
0.1
...
10.8
15.6
93.3
88.2
50.0
64.1
2.4
327.5
431.7
323.8
380.7
186.1
Note: The estimates in this table are based on individual countries national accounts and balance of payments statistics. Country group composites are calculated as the sum of the U.S. dollar
values for the relevant individual countries. Some group aggregates for the financial derivatives are not shown because of incomplete data. Projections for the euro area are not available because
of data constraints.
structure.
253
Table A14. Summary of Net Lending and Borrowing

(Percent of GDP)
Averages
19982007 200209
Advanced Economies
Net Lending and Borrowing
Current Account Balance
Savings
Investment
Capital Account Balance
United States
Savings
Investment
Euro Area
Savings
Investment
Germany
Savings
Investment
France
Savings
Investment
Italy
Savings
Investment
Spain
Savings
Investment
Japan
Savings
Investment
United Kingdom
Savings
Investment
254
Projections
2010
2011
2012
2013
2014
2015
2016
2017
Average
201821
0.7
0.7
22.4
22.8
0.0
0.8
0.8
21.4
22.2
0.0
0.0
0.0
20.3
20.4
0.0
0.0
0.1
20.8
20.8
0.1
0.1
0.0
21.2
20.8
0.0
0.5
0.5
21.4
20.7
0.0
0.5
0.5
21.9
20.9
0.0
0.6
0.6
22.1
20.9
0.1
0.7
0.7
21.5
20.6
0.0
0.6
0.6
21.3
20.7
0.0
0.4
0.4
21.5
21.1
0.0
4.3
4.3
18.9
22.6
0.0
4.7
4.7
17.1
21.6
0.0
3.0
3.0
15.1
18.4
0.0
3.0
3.0
15.7
18.5
0.0
2.7
2.8
17.7
19.4
0.0
2.2
2.2
18.3
19.8
0.0
2.3
2.3
19.2
20.0
0.0
2.6
2.6
19.1
20.3
0.0
2.5
2.5
17.6
19.8
0.0
2.7
2.7
17.1
19.8
0.0
2.7
2.7
17.4
20.1
0.0
...
0.4
23.1
22.6
...
0.1
0.0
22.8
22.4
0.1
0.5
0.4
21.5
21.0
0.1
0.6
0.4
22.4
21.5
0.1
1.4
1.3
22.3
20.1
0.1
2.4
2.2
22.4
19.6
0.2
2.7
2.5
22.8
19.8
0.2
3.0
3.2
23.6
19.8
0.1
...
3.4
23.8
19.9
...
...
3.1
23.7
20.1
...
...
2.8
24.0
20.6
...
2.0
2.1
23.2
21.1
0.0
4.5
4.5
24.1
19.6
0.0
5.7
5.6
25.2
19.6
0.0
6.1
6.1
27.2
21.1
0.1
7.0
7.0
26.3
19.3
0.0
6.7
6.7
26.2
19.5
0.0
7.3
7.3
27.0
19.8
0.0
8.4
8.4
27.7
19.2
0.0
8.6
8.6
27.9
19.3
0.0
8.1
8.1
27.5
19.4
0.0
7.4
7.4
27.1
19.7
0.0
1.9
1.9
23.9
22.0
0.0
0.5
0.5
22.9
22.4
0.0
0.8
0.8
21.1
21.9
0.1
0.9
1.0
22.2
23.2
0.1
1.2
1.2
21.4
22.6
0.0
0.8
0.9
21.4
22.3
0.1
1.0
1.1
21.4
22.5
0.1
0.1
0.2
22.2
22.4
0.1
0.4
0.5
21.9
22.4
0.1
0.3
0.4
21.8
22.2
0.1
0.1
0.0
22.1
22.1
0.1
0.0
0.2
20.8
21.0
0.1
1.2
1.3
20.0
21.3
0.1
3.4
3.4
17.1
20.5
0.0
2.9
3.0
17.5
20.5
0.1
0.1
0.4
17.5
17.9
0.2
1.0
0.9
17.9
17.0
0.0
2.1
1.9
18.2
16.3
0.2
2.4
2.2
19.0
16.8
0.2
2.3
2.2
18.8
16.6
0.1
2.0
1.9
18.6
16.7
0.1
1.3
1.2
18.6
17.4
0.1
4.5
5.3
22.5
27.8
0.8
5.9
6.6
22.2
28.8
0.7
3.5
3.9
19.6
23.5
0.5
2.8
3.2
18.7
21.9
0.4
0.3
0.2
20.0
20.2
0.5
2.2
1.5
20.7
19.1
0.7
1.4
1.0
20.8
19.8
0.4
1.9
1.4
22.0
20.7
0.6
2.5
1.9
22.9
21.0
0.6
2.3
1.7
22.9
21.2
0.6
2.3
1.8
23.3
21.5
0.6
3.1
3.3
26.8
23.6
0.2
3.4
3.5
25.8
22.3
0.1
3.9
4.0
23.8
19.8
0.1
2.2
2.2
22.4
20.2
0.0
1.0
1.0
21.9
20.9
0.0
0.8
0.9
22.2
21.2
0.2
0.8
0.8
22.6
21.8
0.0
3.2
3.3
25.3
22.0
0.1
3.7
3.7
25.3
21.5
0.1
3.3
3.3
25.0
21.6
0.1
3.2
3.3
25.1
21.8
0.1
1.8
1.8
16.4
18.2
0.0
2.2
2.2
15.2
17.4
0.0
2.7
2.7
13.2
16.0
0.0
1.8
1.8
14.1
15.8
0.0
3.7
3.7
12.4
16.0
0.0
4.4
4.4
12.0
16.4
0.0
4.7
4.7
12.7
17.3
0.0
5.4
5.4
11.9
17.2
0.1
6.0
5.9
11.4
17.3
0.0
4.3
4.3
12.6
16.9
0.0
3.8
3.8
13.5
17.3
0.0
Table A14. Summary of Net Lending and Borrowing (continued)

(Percent of GDP)
Averages
19982007 200209
Canada
Savings
Investment
Savings
Investment
Economies
Savings
Investment
Regional Groups
Savings
Investment
Savings
Investment
Savings
Investment
Savings
Investment
and Pakistan
Savings
Investment
Sub-Saharan Africa
Savings
Investment
Projections
2010
2011
2012
2013
2014
2015
2016
2017
Average
201821
1.2
1.2
22.7
21.4
0.0
0.8
0.8
23.1
22.3
0.0
3.6
3.6
19.9
23.5
0.0
2.5
2.8
21.4
24.2
0.3
3.6
3.6
21.3
24.9
0.0
3.2
3.2
21.5
24.6
0.0
2.3
2.3
22.0
24.3
0.0
3.2
3.2
20.4
23.6
0.0
3.7
3.7
19.4
23.1
0.0
3.1
3.1
19.8
22.9
0.0
2.7
2.7
20.4
23.1
0.0
3.8
3.9
29.7
25.7
0.1
4.0
4.1
29.9
25.6
0.1
5.0
5.0
31.0
25.6
0.0
4.2
4.1
30.7
26.3
0.1
4.2
4.2
30.4
26.1
0.0
5.2
5.2
30.5
25.2
0.1
5.2
5.3
30.7
25.3
0.1
5.8
5.9
30.9
24.6
0.1
5.4
5.6
30.4
24.6
0.2
4.9
5.1
30.1
24.9
0.2
4.4
4.5
29.7
25.0
0.1
2.0
1.9
27.4
25.6
0.2
2.9
2.9
30.3
27.6
0.1
1.5
1.2
32.4
31.2
0.3
1.5
1.4
33.2
31.8
0.1
1.3
1.3
33.1
31.9
0.1
0.7
0.6
32.4
31.9
0.1
0.7
0.6
32.7
32.2
0.0
0.1
0.1
32.5
32.5
0.1
0.1
0.3
31.7
31.8
0.1
0.2
0.4
31.5
31.9
0.1
0.4
0.6
31.6
32.1
0.1
6.2
6.5
26.5
20.3
0.4
5.1
5.7
27.1
21.4
0.7
3.7
3.3
24.9
21.5
0.4
4.1
4.1
27.6
23.5
0.0
2.2
2.4
25.8
23.4
0.2
0.6
0.6
22.4
21.7
0.0
0.5
2.1
23.9
21.7
1.5
3.0
3.0
24.1
20.8
0.0
1.3
1.3
24.4
22.6
0.0
1.9
1.9
25.0
22.7
0.0
3.1
3.1
26.4
23.4
0.0
3.2
3.1
35.8
33.1
0.1
4.1
4.0
40.1
36.4
0.1
2.5
2.4
44.4
42.0
0.1
0.9
0.8
43.8
42.9
0.1
1.0
1.0
43.6
42.6
0.1
0.8
0.7
43.1
42.3
0.1
1.8
1.8
43.7
41.9
0.0
2.1
2.1
42.8
40.7
0.0
1.6
1.6
41.3
39.7
0.1
0.9
0.8
40.3
39.4
0.0
0.4
0.3
39.0
38.6
0.0
4.1
4.4
18.0
21.8
0.2
5.0
5.3
17.1
22.0
0.4
4.4
5.1
16.0
21.0
0.7
5.6
6.5
17.0
23.2
0.8
3.6
4.6
16.8
21.1
1.0
2.7
3.8
17.0
20.6
1.2
1.8
3.1
18.0
20.8
1.3
0.5
1.9
18.6
20.2
1.4
0.8
2.0
17.7
19.6
1.2
1.8
3.0
17.4
20.3
1.2
2.5
3.5
17.1
20.5
1.0
0.7
0.8
19.2
20.1
0.1
0.3
0.2
20.8
20.7
0.1
1.7
1.9
20.3
21.7
0.2
1.9
2.0
20.4
22.2
0.0
2.3
2.3
19.9
22.3
0.0
2.7
2.8
19.2
22.3
0.0
3.1
3.2
18.1
21.9
0.0
3.5
3.6
18.9
22.2
0.0
2.2
2.3
18.6
20.7
0.0
2.3
2.3
18.6
21.0
0.0
2.4
2.4
19.3
21.7
0.0
7.1
7.4
32.1
24.9
0.2
9.1
9.4
35.2
26.4
0.2
6.0
6.1
33.8
29.0
0.3
12.8
12.7
38.4
25.6
0.0
12.0
12.5
37.6
25.4
0.0
10.0
10.1
35.4
24.8
0.0
5.6
5.1
32.1
25.5
0.1
3.4
4.0
23.7
26.5
0.1
3.9
4.6
21.8
25.1
0.1
2.0
2.6
24.0
25.4
0.1
1.1
1.6
25.6
25.8
0.1
1.4
0.2
18.9
18.5
1.2
2.2
0.8
20.3
19.4
1.4
1.0
0.7
20.0
20.4
1.7
0.0
0.5
19.7
20.1
0.5
1.0
1.5
19.2
20.6
0.6
1.7
2.1
18.7
20.9
0.4
3.3
3.7
17.8
21.5
0.3
5.5
5.9
14.9
20.6
0.4
4.1
4.5
15.4
19.9
0.4
3.5
3.9
16.1
20.0
0.4
4.0
4.4
16.9
21.3
0.4
255
Table A14. Summary of Net Lending and Borrowing (continued)

(Percent of GDP)
Averages
19982007 200209
Analytical Groups
Fuel
Savings
Investment
Nonfuel
Savings
Investment
Savings
Investment
Savings
Investment
Memorandum
World
Savings
Investment
Projections
2010
2011
2012
2013
2014
2015
2016
2017
Average
201821
7.9
8.2
30.9
23.1
0.0
9.1
9.6
32.7
23.6
0.1
6.1
6.0
30.6
24.7
0.3
9.9
9.9
34.2
24.1
0.0
8.7
9.0
32.9
24.1
0.1
6.8
6.9
30.0
23.2
0.0
3.8
4.2
28.4
24.0
0.7
1.6
1.9
24.8
25.5
0.1
1.8
2.2
23.4
24.4
0.0
0.2
0.6
24.8
24.4
0.0
1.0
0.6
26.4
24.8
0.0
0.4
0.2
26.4
26.4
0.2
1.1
0.9
29.6
28.8
0.2
0.1
0.1
32.9
33.0
0.3
1.0
1.2
32.9
34.0
0.2
0.9
1.1
33.1
34.1
0.2
1.0
1.2
33.1
34.2
0.2
0.2
0.3
33.9
34.2
0.2
0.4
0.2
34.2
33.9
0.2
0.3
0.1
33.4
33.3
0.2
0.3
0.4
32.9
33.3
0.1
0.7
0.8
32.6
33.4
0.1
1.0
1.3
20.8
22.3
0.3
1.0
1.3
22.2
23.7
0.3
1.9
2.4
22.8
25.1
0.5
2.7
2.9
23.0
25.7
0.2
2.9
3.2
22.4
25.4
0.3
2.6
2.9
21.9
24.7
0.3
2.4
2.7
21.8
24.4
0.3
2.2
2.5
21.7
24.2
0.3
1.8
2.0
21.9
23.9
0.3
2.1
2.3
22.2
24.4
0.3
2.2
2.4
23.1
25.5
0.2
0.1
0.3
20.8
21.2
0.2
0.6
0.9
21.7
22.6
0.3
2.3
2.7
18.9
21.6
0.3
3.6
3.9
16.6
20.4
0.3
5.2
5.6
14.6
20.1
0.4
5.2
5.3
13.4
18.6
0.1
3.0
3.2
13.9
17.1
0.2
4.2
4.4
12.7
17.1
0.2
5.0
5.1
11.9
16.9
0.2
4.3
4.5
13.0
17.4
0.2
3.3
3.4
14.5
17.9
0.2
0.0
0.1
23.5
23.5
0.0
0.2
0.1
23.8
23.6
0.1
0.5
0.4
24.4
24.1
0.1
0.5
0.4
25.3
24.8
0.1
0.5
0.5
25.7
25.0
0.1
0.6
0.5
25.7
25.0
0.1
0.6
0.5
26.2
25.3
0.0
0.4
0.3
26.2
25.4
0.0
0.4
0.3
25.4
25.0
0.1
0.3
0.2
25.4
25.1
0.1
0.1
0.0
25.8
25.7
0.0
Note: The estimates in this table are based on individual countries national accounts and balance of payments statistics. Country group composites are calculated as the sum of the U.S.
dollar values for the relevant individual countries. This differs from the calculations in the April 2005 and earlier issues of the World Economic Outlook, in which the composites were
weighted by GDP valued at purchasing power parities as a share of total world GDP. The estimates of gross national savings and investment (or gross capital formation) are from individual
countries national accounts statistics. The estimates of the current account balance, the capital account balance, and the financial account balance (or net lending/net borrowing) are
from the balance of payments statistics. The link between domestic transactions and transactions with the rest of the world can be expressed as accounting identities. Savings (S) minus
investment (I) is equal to the current account balance (CAB) (S I = CAB). Also, net lending/net borrowing (NLB) is the sum of the current account balance and the capital account
balance (KAB) (NLB = CAB + KAB). In practice, these identities do not hold exactly; imbalances result from imperfections in source data and compilation as well as from asymmetries in
group composition due to data availability.
structure.
256
Table A15. Summary of World Medium-Term Baseline Scenario

Projections
Averages
19982007
200817
World Real GDP
Advanced Economies
Memorandum
Potential Output
World Trade, Volume1
Imports
Advanced Economies
Exports
Advanced Economies
Terms of Trade
Advanced Economies
World Prices in U.S. Dollars
Manufactures
Oil
Consumer Prices
Advanced Economies
Interest Rates
Real Six-Month LIBOR2
World Real Long-Term Interest Rate3
Current Account Balances
Advanced Economies
Total External Debt
Debt Service
2014
2015
2016
2017
Averages
201417 201821
4.2
2.8
5.8
3.2
1.1
5.0
Annual Percent Change

3.4
3.2
3.1
1.9
2.1
1.6
4.6
4.0
4.2
3.4
1.8
4.6
3.3
1.8
4.3
3.7
1.7
5.0
2.2
6.8
1.2
2.9
1.4
3.9
1.4
2.6
1.3
2.3
1.3
3.8
1.3
3.1
1.5
4.2
6.2
8.9
2.1
4.5
3.8
4.5
4.2
0.6
2.4
2.3
3.9
4.1
3.6
2.5
4.1
4.7
5.8
8.8
2.5
3.7
3.8
3.5
3.6
1.3
1.8
2.9
3.5
3.6
3.2
2.8
3.8
4.5
0.2
1.7
0.1
0.1
0.3
0.5
1.8
4.1
0.9
1.0
0.1
0.1
0.8
1.4
0.1
0.2
1.5
14.0
3.9
0.4
3.3
0.7
1.0
7.5
4.0
2.9
47.2
17.5
2.1
15.4
2.7
1.4
17.9
0.9
1.2
16.5
6.1
1.0
3.3
0.1
2.0
7.9
1.5
5.6
1.4
4.7
0.8
4.5
1.7
4.4
1.0
4.6
2.0
4.1
1.8
2.4
0.6
0.8
1.5
0.5
0.4
0.3
0.8
0.5
0.8
0.4
0.8
0.2
0.7
1.9
0.1
0.9
0.5
0.6
Percent of GDP
0.6
0.7
0.1
0.3
0.6
0.4
0.6
0.1
0.4
0.6
33.4
27.1
28.4
28.4
28.4
27.6
28.2
26.2
9.3
9.6
11.2
12.1
10.5
9.4
10.8
8.9
0.3
4.7
Percent
0.6
1.3
1Data
refer to trade in goods and services.

interbank offered rate on U.S. dollar deposits minus percent change in U.S. GDP deflator.
3GDP-weighted average of 10-year (or nearest-maturity) government bond rates for Canada, France, Germany, Italy, Japan, the United Kingdom, and the
United States.
2London
257

Table A1. Summary of World Output: (Annual Percent Change)

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Table A1. Summary of World Output: (Annual Percent Change)

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WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES

Table A1. Summary of World Output1

60,048 65,643 72,769 74,092 76,075 78,042 73,599 75,213 79,536

International Monetary Fund | October 2016

International Monetary Fund | October 2016

WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES

Table A3. Advanced Economies: Components of Real GDP

International Monetary Fund | October 2016

Table A3. Advanced Economies: Components of Real GDP (continued)

International Monetary Fund | October 2016

WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES

Table A4. Emerging Market and Developing Economies: Real GDP

Commonwealth of Independent States1,2

International Monetary Fund | October 2016

Latin America and the Caribbean

International Monetary Fund | October 2016

WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES

International Monetary Fund | October 2016

Table A5. Summary of Inflation

the United States, euro area countries, and Japan.

International Monetary Fund | October 2016

WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES

Table A6. Advanced Economies: Consumer Prices1

in consumer prices are shown as annual averages.

International Monetary Fund | October 2016

Table A7. Emerging Market and Developing Economies: Consumer Prices1

Commonwealth of Independent States3,4

International Monetary Fund | October 2016

WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES

Latin America and the Caribbean7

International Monetary Fund | October 2016

in consumer prices are shown as annual averages.

International Monetary Fund | October 2016

WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES

Major Advanced Economies

International Monetary Fund | October 2016

Table A9. Summary of World Trade Volumes and Prices

International Monetary Fund | October 2016

WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES

Table A9. Summary of World Trade Volumes and Prices (continued)

of annual percent change for world exports and imports.

International Monetary Fund | October 2016

Table A10. Summary of Current Account Balances

International Monetary Fund | October 2016

WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES

Table A10. Summary of Current Account Balances (continued)

International Monetary Fund | October 2016

Table A10. Summary of Current Account Balances (continued)

International Monetary Fund | October 2016

WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES

Table A11. Advanced Economies: Balance on Current Account

corrected for reporting discrepancies in intra-area transactions.

International Monetary Fund | October 2016

International Monetary Fund | October 2016

WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES

Latin America and the Caribbean

International Monetary Fund | October 2016

International Monetary Fund | October 2016

WORLD ECONOMIC OUTLOOK: SUBDUED DEMANDSYMPTOMS AND REMEDIES

Table A13. Summary of Financial Account Balances

International Monetary Fund | October 2016

Table A13. Summary of Financial Account Balances (continued)