World Economic Outlook logo

World Economic and Financial Surveys

World Economic Outlook

Database—WEO Groups and Aggregates Information

April 2007

Country Composition of WEO Groups

The country classification in the World Economic Outlook divides the world into two major groups: advanced economies, and other emerging market and developing countries. Please refer to the introduction to the WEO's Statistical Appendix for details. Rather than being based on strict criteria, economic or otherwise, this classification has evolved over time with the objective of facilitating analysis by providing a reasonably meaningful organization of data.

A few countries are presently not included in these groups, either because they are not IMF members and their economies are not monitored by the IMF, or because databases have not yet been fully developed. Because of data limitations, group composites do not reflect the following countries: The Islamic Republic of Afghanistan, Bosnia and Herzegovina, Brunei Darussalam, Eritrea, Iraq, Liberia, Serbia, Somalia, and Timor-Leste. Cuba and the Democratic People's Republic of Korea are examples of countries that are not IMF members, whereas San Marino, among the advanced economies, and Aruba, Marshall Islands, Federated States of Micronesia, Palau, and Republic of Montenegro among the developing countries, are examples of economies for which databases have not been completed.

Advanced economies

   Euro area
   Major advanced economies
   Newly industrialized Asian economies
   Other advanced economies (Advanced economies excluding G7 and euro area)

European Union


Other emerging market and developing countries

   Africa
      Africa: Sub-Sahara
   Central and eastern Europe
   Commonwealth of Independent States and Mongolia
   Developing Asia
      ASEAN-4
   Middle East
   Western Hemisphere


Advanced Economies

Australia
Austria
Belgium
Canada
Cyprus
Denmark
Finland
France
Germany
Greece
Hong Kong SAR

Iceland
Ireland
Israel
Italy
Japan
Korea
Luxembourg
Netherlands
New Zealand
Norway
Portugal

Singapore
Slovenia
Spain
Sweden
Switzerland
Taiwan Province of China
United Kingdom
United States


Euro Area

Austria
Belgium
Finland
France
Germany

Greece
Ireland
Italy
Luxembourg
Netherlands

Portugal
Slovenia
Spain


Major Advanced Economies

Canada
France
Germany

Italy
Japan
United Kingdom

United States


European Union

Austria
Belgium
Bulgaria
Cyprus
Czech Republic
Denmark
Estonia
Finland
France

Germany
Greece
Hungary
Ireland
Italy
Latvia
Lithuania
Luxembourg
Malta

Netherlands
Poland
Portugal
Romania
Slovak Republic
Slovenia
Spain
Sweden
United Kingdom


Newly Industrialized Asian Economies

Hong Kong SAR
Korea

Singapore
Taiwan Province of China


Other Advanced Economies
(Advanced economies excluding G7 and euro area)

Australia
Cyprus
Denmark
Hong Kong SAR Iceland

Israel
Korea
New Zealand
Norway
Singapore

Sweden
Switzerland
Taiwan Province of China


Other Emerging Market and Developing Countries

Afghanistan, Rep. of2
Albania
Algeria
Angola
Antigua and Barbuda
Argentina
Armenia
Azerbaijan
Bahamas, the
Bahrain
Bangladesh
Barbados
Belarus
Belize
Benin
Bhutan
Bolivia
Botswana
Bosnia and Herzegovina2
Brazil
Brunei Darussalam2
Bulgaria
Burkina Faso
Burundi
Cambodia
Cameroon
Cape Verde
Central African Republic
Chad
Chile
China
Colombia
Comoros
Congo, Dem. Rep. of
Congo, Rep. of
Costa Rica
Côte d'Ivoire
Croatia
Czech Republic
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt
El Salvador
Equatorial Guinea
Estonia
Eritrea2
Ethiopia
Fiji

Gabon
Gambia, The
Georgia
Ghana
Grenada
Guatemala
Guinea
Guinea-Bissau
Guyana
Haiti
Honduras
Hungary
India
Indonesia
Iran, I.R. of
Iraq1,2
Jamaica
Jordan
Kazakhstan
Kenya
Kiribati
Kuwait
Kyrgyz Republic
Lao PDR
Latvia
Lebanon
Lesotho
Liberia2
Libya
Lithuania
Macedonia, FYR
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Mauritania
Mauritius
Mexico
Moldova
Mongolia
Morocco
Mozambique, Rep. of
Myanmar
Namibia
Nepal
Nicaragua
Niger
Nigeria
Oman
Pakistan
Panama

Papua New Guinea
Paraguay
Peru
Philippines
Poland
Qatar
Romania
Russia
Rwanda
Samoa
São Tomé and Príncipe
Saudi Arabia
Senegal
Serbia2
Seychelles
Sierra Leone
Slovak Republic
Solomon Islands
Somalia1,2
South Africa
Sri Lanka
St. Kitts and Nevis
St. Lucia
St. Vincent and the Grenadines
Sudan
Suriname
Swaziland
Syrian Arab Republic
Tajikistan
Tanzania
Thailand
Timor-Leste, Dem. Rep. of2
Togo
Tonga
Trinidad and Tobago
Tunisia
Turkey
Turkmenistan
Uganda
Ukraine
United Arab Emirates
Uruguay
Uzbekistan
Vanuatu
Venezuela
Vietnam
Yemen
Zambia
Zimbabwe

1Because of data quality concerns, this country is not released in the WEO database.
2
Because of insufficient data, this country is not included in the WEO aggregates.


Africa

Algeria
Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo, Dem. Rep. of
Congo, Rep. of
Côte d'Ivoire
Djibouti
Equatorial Guinea
Eritrea2

Ethiopia
Gabon
Gambia, The
Ghana
Guinea
Guinea-Bissau
Kenya
Lesotho
Liberia2
Madagascar
Malawi
Mali
Mauritania
Mauritius
Morocco
Mozambique, Rep. of
Namibia

Niger
Nigeria
Rwanda
São Tomé and Príncipe
Senegal
Seychelles
Sierra Leone
Somalia1,2
South Africa
Sudan
Swaziland
Tanzania
Togo
Tunisia
Uganda
Zambia
Zimbabwe

1Because of data quality concerns, this country is not released in the WEO database.
2
Because of insufficient data, this country is not included in the WEO aggregates.


Africa, Sub-Sahara

Africa excluding Algeria, Morocco, and Tunisia.


Central and eastern Europe

Albania
Bosnia and Herzegovina1
Bulgaria
Croatia
Czech Republic
Estonia
Hungary
Latvia

Lithuania
Macedonia, FYR
Malta
Poland
Romania
Serbia2
Slovak Republic
Turkey

1Because of data quality concerns, this country is not released in the WEO database.
2
Because of insufficient data, this country is not included in the WEO aggregates.


Commonwealth of Independent States and Mongolia

Armenia
Azerbaijan
Belarus
Georgia
Kazakhstan
Kyrgyz Republic
Moldova

Mongolia
Russia
Tajikistan
Turkmenistan
Ukraine
Uzbekistan


Developing Asia

Afghanistan, Rep. of2
Bangladesh
Bhutan
Brunei Darussalam2
Cambodia
China
Fiji
India
Indonesia
Kiribati
Lao PDR
Malaysia
Maldives

Myanmar
Nepal
Pakistan
Papua New Guinea
Philippines
Samoa
Solomon Islands
Sri Lanka
Thailand
Timor-Leste, Dem. Rep. of2
Tonga
Vanuatu
Vietnam

2Because of insufficient data, this country is not included in the WEO aggregates.


ASEAN-4

Indonesia, Malaysia, Philippines and Thailand


Middle East

Bahrain
Egypt
Iran, I.R. of
Iraq1,2
Jordan
Kuwait
Lebanon

Libya
Oman
Qatar
Saudi Arabia
Syrian Arab Rep.
United Arab Emirates
Yemen

1Because of data quality concerns, this country is not released in the WEO database.
2
Because of insufficient data, this country is not included in the WEO aggregates.


Western Hemisphere

Antigua and Barbuda
Argentina
Bahamas, the
Barbados
Belize
Bolivia
Brazil
Chile
Colombia
Costa Rica
Dominica

Dominican Republic
Ecuador
El Salvador
Grenada
Guatemala
Guyana
Haiti
Honduras
Jamaica
Mexico
Nicaragua
Panama

Paraguay
Peru
St. Kitts and Nevis
St. Lucia
St. Vincent and the Grenadines
Suriname
Trinidad and Tobago
Uruguay
Venezuela


WEO Aggregates

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

  • Country group composites for interest rates are weighted by GDP converted to U.S. dollars at market exchange rates (averaged over the preceding three years) as a share of group GDP.
  • Composites for other data relating to the domestic economy, whether growth rates or ratios, are weighted by GDP valued at purchasing power parities (PPPs) as a share of total world or group GDP. Annual inflation rates are simple percent change from previous years, except for other emerging market and developing countries where the rates are based on logarithmic differences (see the FAQ for more details).
  • Composites for data relating to the domestic economy for the euro area (13 member countries throughout the entire period unless otherwise noted) are aggregates of national source data using weights based on 1995 ECU exchange rates.
  • Composite unemployment rates are weighted by labor force as a share of group labor force.
  • Composites relating to the external economy are sums of individual country data after conversion to U.S. dollars at the average market exchange rates in the years indicated for balance of payments data and at end-of-year market exchange rates for debt denominated in currencies other than U.S. dollars. Composites of changes in foreign trade volumes and prices, however, are arithmetic averages of percentage changes for individual countries weighted by the U.S. dollar value of exports or imports as a share of total world or group exports or imports (in the preceding year).