## sreo0517-app

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### Data and Projections Coverage and Methods
- Data and projections are IMF staff estimates as of 31 March, 2017, consistent with the projections underlying the April 2017 World Economic Outlook.
- Coverage: 45 sub-Saharan African countries in the IMF’s African Department.
- Data definitions follow established international statistical methodologies; comparability is limited in some cases due to data limitations.
- Aggregation methods for appendix tables:
  - Tables SA1–SA3, SA6–SA7, SA13, SA15–SA16, SA22–SA23: country group composites = arithmetic average of individual countries, weighted by GDP valued at purchasing power parity as a share of total group GDP (PPP weights from WEO database).
  - Tables SA8–SA12, SA17–SA21, SA24–SA26: arithmetic average weighted by GDP in U.S. dollars at market exchange rates.
  - Tables SA4–SA5 and SA14: geometric average weighted by PPP GDP (WEO weights).
  - Tables SA27–SA28: unweighted arithmetic average.
- Regional cooperation memberships reported for: WAEMU, CEMAC, COMESA, EAC-5, ECOWAS, SADC, SACU.

### Country Groupings and Classification Criteria
- Groups: oil exporters; middle-income; low-income; countries in fragile situations.
- Membership criteria:
  - Per capita gross national income (three-year average) using World Bank, Atlas method.
  - CPIA score (three-year average) and/or presence of peace-keeping or peace-building mission in last three years for fragile situations.
- Definitions:
  - Oil exporters: net oil exports ≥ 30 percent of total exports (Angola, Nigeria, South Sudan notable; CEMAC membership except for Angola, Nigeria, South Sudan).
  - Middle-income: per capita GNI in 2013–15 > US$1,025.00.
  - Low-income: per capita GNI in 2013–15 ≤ US$1,025.00.
  - Countries in fragile situations: average CPIA ≤ 3.2 in 2013–15 and/or peace mission presence.
- Classification matrix uses markers (e.g., XX, XXX) to indicate membership across categories (full matrix on page 71 of source).

### Key Macroeconomic Aggregates and Projections (selected exact values)
- Real GDP Growth (Sub-Saharan Africa, Table SA1):
  - 2004-08: 6.6; 2009: 3.9; 2010: 7.0; 2011: 5.0; 2012: 4.3; 2013: 5.3; 2014: 5.1; 2015: 3.4; 2016: 1.4; 2017: 2.6; 2018: 3.5.
- Real GDP Growth (Oil-exporting countries, Table SA1):
  - 2004-08: 8.7; 2009: 6.7; 2010: 9.2; 2011: 4.7; 2012: 3.9; 2013: 5.7; 2014: 5.9; 2015: 2.6; 2016: –1.4; 2017: 0.9; 2018: 2.0.
- Real Non-Oil GDP Growth (Sub-Saharan Africa, Table SA2):
  - 2004-08: 7.8; 2009: 4.9; 2010: 7.6; 2011: 5.5; 2012: 5.2; 2013: 6.3; 2014: 5.4; 2015: 3.5; 2016: 1.9; 2017: 2.4; 2018: 3.1.
- Real Per Capita GDP Growth (Sub-Saharan Africa, Table SA3):
  - 2004-08: 4.1; 2009: 1.5; 2010: 4.5; 2011: 2.6; 2012: 1.8; 2013: 2.8; 2014: 2.6; 2015: 1.0; 2016: –1.0; 2017: 0.2; 2018: 1.1.
- Consumer Prices, Annual Average (Sub-Saharan Africa, Table SA4):
  - 2004-08: 8.8; 2009: 9.8; 2010: 8.1; 2011: 9.4; 2012: 9.3; 2013: 6.6; 2014: 6.3; 2015: 7.0; 2016: 11.4; 2017: 10.7; 2018: 9.5.
- Consumer Prices, End of Period (Sub-Saharan Africa, Table SA5):
  - 2004-08: 8.9; 2009: 9.2; 2010: 7.7; 2011: 10.0; 2012: 8.2; 2013: 6.1; 2014: 6.1; 2015: 8.2; 2016: 12.7; 2017: 10.4; 2018: 9.3.
- Total Investment (Percent of GDP, Sub-Saharan Africa, Table SA6):
  - 2004-08: 19.6; 2009: 21.4; 2010: 20.8; 2011: 20.5; 2012: 21.1; 2013: 21.2; 2014: 21.8; 2015: 21.4; 2016: 19.4; 2017: 19.3; 2018: 20.0.
- Gross National Savings (Percent of GDP, Sub-Saharan Africa, Table SA7):
  - 2004-08: 22.1; 2009: 18.9; 2010: 19.9; 2011: 19.9; 2012: 18.9; 2013: 18.2; 2014: 17.6; 2015: 15.5; 2016: 15.6; 2017: 15.6; 2018: 16.2.

### Fiscal Sector: Balances, Revenue, Expenditure, Debt (selected exact values)
- Overall Fiscal Balance, Including Grants (Percent of GDP, Sub-Saharan Africa, Table SA8):
  - Series: 1.7–4.5–3.4–1.1–1.8–3.1–3.5–4.1–4.5–4.5–3.9.
- Overall Fiscal Balance, Excluding Grants (Percent of GDP, Sub-Saharan Africa, Table SA9):
  - Series: 0.4–5.5–4.3–1.9–2.5–3.8–4.2–4.8–5.1–5.1–4.4.
- Government Revenue, Excluding Grants (Percent of GDP, Sub-Saharan Africa, Table SA10):
  - Series: 23.4–19.1–20.6–23.1–21.9–20.1–19.3–17.7–16.5–17.2–17.0.
- Government Expenditure (Percent of GDP, Sub-Saharan Africa, Table SA11):
  - Series: 23.0–24.6–24.9–25.0–24.3–23.9–23.5–22.5–21.6–22.4–21.4.
- Government Debt (Percent of GDP, Sub-Saharan Africa, Table SA12):
  - Series: 33.4–26.5–27.9–28.7–28.5–30.0–31.6–37.4–42.5–44.6–44.9.

### External Sector and Trade (selected exact values)
- Exports of Goods and Services (Percent of GDP, Sub-Saharan Africa, Table SA17):
  - Aggregate series includes: 32.7 27.8 30.4 33.7 31.1 29.7 26.9 26.9 23.0 22.4 24.0 23.4 (years as in tables).
- Imports of Goods and Services (Percent of GDP, Sub-Saharan Africa, Section 5):
  - Series: 30.4 30.6 30.7 33.0 32.1 30.8 30.5 29.6 27.2 28.2 27.3.
- Trade Balance on Goods (Percent of GDP, Sub-Saharan Africa, Section 5):
  - Series: 6.1 2.3 4.4 5.6 3.5 3.0 0.8 –3.1 –2.0 –1.1 –1.0.
- External Current Account (Percent of GDP, Sub-Saharan Africa, Section 5):
  - Series: 2.1 –2.8 –0.9 –0.8 –1.8 2.4 3.9 6.0 4.0 3.8 3.7.
- Net Foreign Direct Investment (Percent of GDP, Sub-Saharan Africa, Section 5):
  - Series: 2.1 2.7 2.6 2.2 1.9 1.4 1.5 2.1 1.5 1.9 2.2.
- Terms of Trade on Goods (Index, 2000 = 100, Sub-Saharan Africa, Table SA25):
  - Series: 5.1, 5.2, 4.1, 4.6, 5.3, 5.0, 5.3, 5.8, 4.8, 4.7, 4.5.

### Monetary and Financial Sector Indicators (selected exact values)
- Broad Money (Percent of GDP, Sub-Saharan Africa aggregate, Table SA13):
  - Series: 34.9 39.3 37.6 36.4 36.6 35.5 36.3 36.3 37.8 37.5 37.6.
- Broad Money Growth (Percent, Sub-Saharan Africa aggregate, Table SA14):
  - Series: 25.4 14.7 13.3 12.5 16.7 7.7 15.3 11.2 12.1 13.1 13.3.
- Claims on Nonfinancial Private Sector (Percent change, Sub-Saharan Africa aggregate, Table SA15):
  - Series: 30.3 16.5 8.3 12.6 13.3 12.2 15.4 12.1 12.7.
- Claims on Nonfinancial Private Sector (Percent of GDP, Sub-Saharan Africa aggregate, Table SA16):
  - Series: 28.2 31.9 29.2 27.9 28.0 27.7 27.7 29.9 29.0 28.8.
- Banking Penetration (Total banking sector assets in percent of GDP, Sub-Saharan Africa, Table SA27):
  - Series: 65.2, 67.8, 67.4, 68.6, 69.8, 70.8, 70.8, 73.1, 73.1, 73.4.
- Banking Sector: Loan-to-Deposit Ratio (Percent of deposits, Sub-Saharan Africa, Table SA28):
  - Series: 42.6, 55.8, 72.5, 79.2, 75.4, 87.3, 89.1, 85.8, 75.6, 70.8.
- Reserves (Months of imports, Table SA26):
  - Sub-Saharan Africa series: 43.2, 50.1, 52.8, 52.8, 53.5, 55.5, 56.7, 58.9, 57.8.

### Debt, External Debt and Reserve Measures (selected exact values)
- External Debt, Official Debt, Debtor Based (Percent of GDP, Table SA24, Sub-Saharan Africa):
  - Series: 129.9, 134.0, 148.9, 160.6, 160.1, 156.2, 137.0, 137.8, 142.2, 140.0.
- Government Debt (Percent of GDP, Sub-Saharan Africa, Table SA12) (repeat for emphasis):
  - Series: 33.4–26.5–27.9–28.7–28.5–30.0–31.6–37.4–42.5–44.6–44.9.

### Notes on Tables, Sources, and Footnotes
- Tables SA1–SA28 titles and coverage listed in the appendix (examples: SA1. Real GDP Growth; SA2. Real Non-Oil GDP Growth; SA3. Real Per Capita GDP Growth; SA4. Consumer Prices, Average; SA20. External Current Account; SA26. Reserves; SA27. Banking Penetration; SA28. Banking Sector: Loan-to-Deposit Ratio).
- Sources and footnotes reference: IMF, African Department database; IMF, World Economic Outlook database, 31 March, 2017; IMF Information Notice System (Tables SA22–SA23); IMF International Financial Statistics (Tables SA27–SA28).
- Footnote highlights:
  - Fiscal year data indicated where applicable.
  - Some series in constant 2009 U.S. dollars; Zimbabwe dollar ceased circulating in early 2009 and U.S. dollar values are IMF staff estimates.
  - Notation: “...” denotes data not available.
  - Table-specific notes (examples): Table SA27 includes offshore banking assets; Table SA28 loan-to-deposit ratio includes deposits and loans of commercial banks to the public sector.
- Country abbreviations list provided for tables (e.g., AGO Angola, BEN Benin, BFA Burkina Faso, etc.).

*IMF staff, Statistical Appendix (Sections 1–6) — Regional Economic Outlook: Sub-Saharan Africa (as of 31 March, 2017).*

### Section 1

### sreo0517-app - Section 1

### Data and Projections Coverage
- Data and projections presented are IMF staff estimates as of 31 March, 2017, consistent with the projections underlying the April 2017 World Economic Outlook.
- The data and projections cover 45 sub-Saharan African countries in the IMF’s African Department.
- Data definitions follow established international statistical methodologies to the extent possible; in some cases, data limitations limit comparability across countries.

### Country Groupings and Classification Criteria
- Countries are aggregated into four (overlapping) groups: oil exporters, middle-income, low-income, and countries in fragile situations.
- Group membership reflects:
  - Per capita gross national income (averaged over three years) using World Bank data and the Atlas method for income thresholds.
  - World Bank Country Policy and Institutional Assessment (CPIA) score (averaged over three years).
- Group definitions:
  - Oil exporters: countries where net oil exports make up 30 percent or more of total exports. Except for Angola, Nigeria, and South Sudan, they belong to CEMAC.
  - Middle-income countries: per capita gross national income in 2013–15 of more than US$1,025.00 (World Bank, Atlas method).
  - Low-income countries: average per capita gross national income in 2013–15 equal to or lower than US$1,025.00 (World Bank, Atlas method).
  - Countries in fragile situations: average CPIA scores of 3.2 or less in 2013–15 and/or presence of a peace-keeping or peace-building mission within the last three years.
- Regional cooperation body membership is reported for: WAEMU (CFA franc zone), CEMAC, COMESA, EAC-5 (includes Rwanda and Burundi, which joined only in 2007), ECOWAS, SADC, and SACU.

### Methods of Aggregation for Appendix Tables
- Tables SA1–SA3, SA6–SA7, SA13, SA15–SA16, and SA22–SA23:
  - Country group composites = arithmetic average of individual countries, weighted by GDP valued at purchasing power parity as a share of total group GDP.
  - Source of PPP weights: World Economic Outlook (WEO) database.
- Tables SA8–SA12, SA17–SA21, and SA24–SA26:
  - Country group composites = arithmetic average of individual countries, weighted by GDP in U.S. dollars at market exchange rates as a share of total group GDP.
- Tables SA4–SA5 and SA14:
  - Country group composites = geometric average of individual countries, weighted by GDP valued at purchasing power parity as a share of total group GDP.
  - Source of PPP weights: WEO database.
- Tables SA27–SA28:
  - Country group composites = unweighted arithmetic average of individual countries.

### Regional Groupings: Member Countries (selected listings from the section)
- WAEMU: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, Togo.
- CEMAC: Cameroon, Central African Republic, Chad, Congo, Republic of, Equatorial Guinea, Gabon.
- COMESA (SSA members listed in section): Burundi, Comoros, Congo, Dem. Rep. of, Eritrea, Ethiopia, Kenya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Swaziland, Uganda, Zambia, Zimbabwe.
- EAC-5: Burundi, Kenya, Rwanda, Tanzania, Uganda.
- SADC (members listed): Angola, Botswana, Congo, Dem. Rep. of, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania, Zambia, Zimbabwe.
- SACU: Botswana, Lesotho, Namibia, South Africa, Swaziland.
- ECOWAS (members listed): Benin, Burkina Faso, Cabo Verde, Côte d’Ivoire, Gambia, The, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, Togo.

### Country Classifications Table (format and markers)
- The classifications table uses markers (e.g., XX, XXX) to indicate membership across categories: Oil exporters, Oil importers, MICs, LICs, LICs excluding countries in fragile situations, Countries in fragile situations.
- Sample entries from the table (as presented):
  - Angola: Oil exporters (marked AngolaXX)
  - Benin: Oil importers / MICs / LICs? (marked BeninXXX)
  - Nigeria: listed among oil exporters (marked NigeriaXX)
  - South Sudan: marked among countries in fragile situations (South SudanXXX)
- The section provides a full matrix of country classifications (page 71) with exact markers for each country.

### Notes on Tables, Sources, and Footnotes
- Tables SA1–SA28 are listed with titles; examples include:
  - SA1. Real GDP Growth
  - SA2. Real Non-Oil GDP Growth
  - SA3. Real Per Capita GDP Growth
  - SA4. Consumer Prices, Average
  - SA20. External Current Account
  - SA26. Reserves
  - SA27. Banking Penetration
  - SA28. Banking Sector: Loan-to-Deposit Ratio
- Sources and footnotes for appendix tables reference:
  - IMF, African Department database, and IMF, World Economic Outlook database, 31 March, 2017.
  - IMF, Information Notice System (for Tables SA22–SA23).
  - IMF, International Financial Statistics (for Tables SA27–SA28).
- Specific footnote highlights:
  - Fiscal year data indicated where applicable.
  - Some series are in constant 2009 U.S. dollars; the Zimbabwe dollar ceased circulating in early 2009 and U.S. dollar values are IMF staff estimates.
  - Notation: “...” denotes data not available.
  - Table-specific notes (examples):
    - Table SA27: Includes offshore banking assets.
    - Table SA28: Loan-to-deposit ratio includes deposits and loans of commercial banks to the public sector.
- List of country abbreviations is provided for tables (e.g., AGO Angola, BEN Benin, BFA Burkina Faso, etc.).

### Selected Key Statistics from Tables SA1–SA2 (examples preserved exactly as shown)
- Sub-Saharan Africa: Real GDP Growth (Table SA1)
  - 2004-08: 6.6
  - 2009: 3.9
  - 2010: 7.0
  - 2011: 5.0
  - 2012: 4.3
  - 2013: 5.3
  - 2014: 5.1
  - 2015: 3.4
  - 2016: 1.4
  - 2017: 2.6
  - 2018: 3.5
- Oil-exporting countries: Real GDP Growth (Table SA1)
  - 2004-08: 8.7
  - 2009: 6.7
  - 2010: 9.2
  - 2011: 4.7
  - 2012: 3.9
  - 2013: 5.7
  - 2014: 5.9
  - 2015: 2.6
  - 2016: –1.4
  - 2017: 0.9
  - 2018: 2.0
- Sub-Saharan Africa: Real Non-Oil GDP Growth (Table SA2)
  - 2004-08: 7.8
  - 2009: 4.9
  - 2010: 7.6
  - 2011: 5.5
  - 2012: 5.2
  - 2013: 6.3
  - 2014: 5.4
  - 2015: 3.5
  - 2016: 1.9
  - 2017: 2.4
  - 2018: 3.1

*IMF staff, Statistical Appendix (Section 1) — Regional Economic Outlook: Sub-Saharan Africa (as of 31 March, 2017).*

### Section 2

### sreo0517-app - Section 2

### Table SA3. Real Per Capita GDP Growth (Percent)
- Panel covers country-level real per capita GDP growth for the series 2004-08, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018.
- Selected aggregate and group series (exact values preserved):
  - Sub-Saharan Africa: 4.1, 1.5, 4.5, 2.6, 1.8, 2.8, 2.6, 1.0, –1.0, 0.2, 1.1
  - Median: 2.9, 0.8, 3.2, 2.8, 2.2, 2.9, 2.4, 1.2, 1.5, 1.9, 2.4
  - Excluding Nigeria and South Africa: 4.1, 1.3, 3.4, 3.4, 2.6, 3.8, 3.2, 2.1, 1.2, 1.9, 2.7
  - Oil-exporting countries: 5.7, 3.8, 6.2, 1.9, 1.0, 2.8, 3.0, –0.2, –4.0, –1.8, –0.7
  - Oil-exporting countries (Excluding Nigeria): 7.9, –0.6, 0.6, 1.2, –0.2, 3.3, 1.9, –0.3, –3.7, –1.8, –0.5
  - Oil-importing countries: 3.2, –0.1, 3.2, 3.2, 2.4, 2.8, 2.4, 1.8, 1.2, 1.7, 2.3
  - Excluding South Africa: 3.0, 1.9, 4.4, 4.1, 3.5, 4.0, 3.7, 2.9, 2.6, 2.9, 3.5
  - Middle-income countries: 4.3, 1.2, 4.5, 2.2, 1.9, 2.3, 2.2, 0.3, –1.8, –0.5, 0.5
  - Low-income countries: 3.5, 2.6, 4.5, 4.3, 1.8, 4.5, 4.2, 3.0, 1.9, 2.7, 3.0
  - Countries in fragile situations: 0.9, 0.7, 2.8, 0.4, 0.3, 4.3, 3.3, 1.0, –0.6, 0.8, 1.7
  - CFA franc zone: 2.0, –0.3, 1.1, –0.1, 3.2, 1.7, 3.0, 1.7, 0.5, 1.3, 2.4
  - CEMAC: 3.4, –0.6, 0.7, 1.6, 3.0, –0.0, 2.3, –0.1, –2.9, –1.2, 0.9
  - WAEMU: 0.7, 0.1, 1.5, –1.6, 3.4, 3.3, 3.7, 3.3, 3.2, 3.3, 3.5
  - COMESA (SSA members): 3.5, 3.2, 5.5, 4.7, 3.2, 3.6, 4.0, 3.5, 2.5, 2.6, 2.8
  - EAC-5: 3.3, 2.3, 4.7, 4.2, 1.6, 3.1, 3.1, 3.3, 3.3, 2.3, 3.5
  - ECOWAS: 3.9, 4.2, 6.8, 2.2, 2.3, 2.9, 3.2, 0.4, –2.3, –0.4, 0.7
  - SACU: 3.5, –2.9, 1.9, 1.9, 2.0, 0.9, 1.5, 0.4, –0.3, –1.1, –0.5
  - SADC: 4.4, –1.3, 2.3, 2.4, 1.7, 2.3, 1.5, 0.6, –0.5, 0.2, 0.7

### Table SA4. Consumer Prices (Annual average, percent change)
- Panel covers annual average consumer price inflation for the same year series as above.
- Selected aggregate and group series (exact values preserved):
  - Sub-Saharan Africa: 8.8, 9.8, 8.1, 9.4, 9.3, 6.6, 6.3, 7.0, 11.4, 10.7, 9.5
  - Median: 7.2, 7.3, 4.3, 5.4, 6.0, 4.9, 4.3, 4.5, 5.5, 6.0, 5.5
  - Excluding Nigeria and South Africa: 9.2, 9.5, 6.5, 10.6, 9.1, 5.7, 5.3, 5.3, 6.7, 11.0, 8.8
  - Oil-exporting countries: 10.9, 11.5, 12.0, 10.0, 11.2, 7.5, 7.1, 8.9, 17.8, 17.3, 15.3
  - Oil-exporting countries (Excluding Nigeria): 9.1, 8.8, 7.4, 7.4, 6.8, 4.4, 9.4, 4.6, 8.5, 23.7, 17.2
  - Oil-importing countries: 7.6, 8.6, 5.4, 8.9, 7.9, 5.9, 5.7, 5.7, 5.6, 5.5, 5.8
  - Excluding South Africa: 9.3, 9.7, 6.2, 11.6, 9.3, 6.0, 5.3, 5.6, 2.7, 5.6, 5.9
  - Middle-income countries: 8.6, 9.5, 8.5, 8.3, 8.5, 8.4, 6.9, 6.9, 7.1, 11.6, 10.5
  - Low-income countries: 9.7, 10.8, 6.9, 13.4, 12.3, 5.4, 4.5, 4.8, 11.4, 8.5, 6.6
  - Countries in fragile situations: 8.1, 10.5, 6.0, 6.6, 7.2, 7.3, 4.1, 3.3, 6.2, 14.3, 9.7
  - CFA franc zone: 3.6, 0.4, 2.9, 3.5, 2.9, 1.2, 1.3, 1.5, 0.6, 2.1, 1.7
  - CEMAC: 3.2, 2.5, 2.5, 4.1, 3.2, 2.6, 2.4, 1.7, 0.5, 2.4, 1.3
  - WAEMU: 4.0, –1.6, 3.3, 3.0, 2.7, 0.0, 0.3, 1.3, 0.7, 1.8, 1.9
  - COMESA (SSA members): 12.5, 10.7, 7.6, 17.6, 7.6, 4.6, 5.3, 8.5, 7.9, 7.7, 6.9
  - EAC-5: 8.4, 9.0, 8.9, 4.4, 19.6, 6.6, 6.1, 4.5, 7.5, 5.9, 5.2
  - ECOWAS: 9.6, 10.7, 10.2, 9.1, 10.1, 7.1, 7.4, 8.7, 14.8, 13.7, 13.4
  - SACU: 6.5, 6.3, 3.6, 6.2, 8.2, 6.3, 5.3, 5.2, 5.1, 5.8, 5.5
  - SADC: 8.4, 9.0, 6.1, 8.2, 6.9, 5.6, 5.4, 7.2, 11.6, 8.3, 7.2

### Table SA5. Consumer Prices (End of period, percent change)
- Panel covers end-of-period inflation for the same year series.
- Selected aggregate and group series (exact values preserved):
  - Sub-Saharan Africa: 8.9, 9.2, 7.7, 10.0, 8.2, 6.1, 6.1, 8.2, 12.7, 10.4, 9.3
  - Median: 7.3, 4.7, 5.4, 7.0, 5.0, 4.4, 3.7, 4.5, 5.7, 6.0, 5.0
  - Excluding Nigeria and South Africa: 9.5, 7.7, 7.2, 11.8, 6.9, 5.2, 5.2, 8.5, 11.7, 8.1, 6.3
  - Oil-exporting countries: 9.8, 12.2, 10.9, 9.9, 10.5, 6.9, 7.2, 10.1, 21.2, 16.6, 15.0
  - Oil-exporting countries (Excluding Nigeria): 8.3, 7.8, 8.3, 7.4, 6.7, 4.0, 5.0, 11.7, 28.4, 14.2, 8.6
  - Oil-importing countries: 8.4, 7.1, 5.4, 10.4, 6.4, 5.5, 5.3, 5.3, 6.7, 7.0, 6.3
  - Excluding South Africa: 9.9, 7.7, 6.8, 13.3, 7.0, 5.6, 5.2, 5.2, 7.5, 8.1, 6.5
  - Middle-income countries: 8.5, 9.1, 7.9, 8.5, 8.1, 6.6, 6.8, 6.0, 13.1, 10.9, 10.4
  - Low-income countries: 10.6, 9.3, 7.0, 16.0, 8.5, 4.4, 4.4, 8.7, 11.4, 8.7, 6.1
  - Countries in fragile situations: 9.0, 8.6, 6.4, 6.8, 6.9, 2.7, 4.0, 8.2, 15.3, 10.0, 5.8
  - CFA franc zone: 3.6, 0.4, 2.9, 3.5, 2.9, 1.2, 1.3, 1.5, 0.6, 2.1, 1.7
  - CEMAC: 3.2, 2.5, 2.5, 4.1, 3.2, 2.6, 2.4, 1.7, 0.5, 2.4, 1.3
  - WAEMU: 4.0, –1.6, 3.3, 3.0, 2.7, 0.0, 0.3, 1.3, 0.7, 1.8, 1.9
  - COMESA (SSA members): 12.5, 10.7, 7.6, 17.6, 7.6, 4.6, 5.3, 8.5, 7.9, 7.7, 6.9
  - EAC-5: 8.4, 9.0, 8.9, 4.4, 19.6, 6.6, 6.1, 4.5, 7.5, 5.9, 5.2
  - ECOWAS: 9.6, 10.7, 10.2, 9.1, 10.1, 7.1, 7.4, 8.7, 14.8, 13.7, 13.4
  - SACU: 6.5, 6.3, 3.6, 6.2, 8.2, 6.3, 5.3, 5.2, 5.1, 5.8, 5.5
  - SADC: 8.4, 9.0, 6.1, 8.2, 6.9, 5.6, 5.4, 7.2, 11.6, 8.3, 7.2

### Table SA6. Total Investment (Percent of GDP)
- Panel reports total investment (percent of GDP) for the same year series.
- Selected aggregate and group series (exact values preserved):
  - Sub-Saharan Africa: 19.6, 21.4, 20.8, 20.5, 21.1, 21.2, 21.8, 21.4, 19.4, 19.3, 20.0
  - Median: 20.7, 21.7, 23.0, 22.4, 24.7, 21.6, 22.9, 21.2, 20.7, 20.0, 20.6
  - Excluding Nigeria and South Africa: 21.1, 23.0, 23.8, 23.0, 23.7, 25.8, 25.3, 26.2, 25.5, 24.9, 24.5
  - Oil-exporting countries: 17.1, 21.2, 19.2, 17.3, 17.2, 17.0, 18.4, 17.7, 14.8, 14.4, 14.0
  - Oil-exporting countries (Excluding Nigeria): 18.5, 25.6, 24.6, 24.6, 20.0, 23.0, 22.6, 25.4, 22.7, 19.2, 17.2
  - Oil-importing countries: 21.2, 21.6, 21.9, 22.9, 24.4, 24.3, 24.4, 24.4, 23.0, 23.1, 24.1
  - Excluding South Africa: 22.0, 22.2, 23.5, 25.0, 26.7, 26.2, 26.4, 26.4, 23.0, 23.1, 24.5
  - Middle-income countries: 19.0, 21.0, 19.9, 19.4, 19.4, 19.6, 20.2, 19.9, 17.6, 17.4, 17.7
  - Low-income countries: 22.1, 22.9, 24.2, 24.4, 24.5, 26.7, 26.7, 27.5, 26.6, 25.5, 27.3
  - Countries in fragile situations: 17.9, 19.1, 19.9, 15.8, 18.2, 18.0, 19.1, 18.5, 16.9, 16.9, 17.4
  - CFA franc zone: 20.4, 26.2, 27.1, 24.0, 26.0, 26.0, 24.8, 27.1, 27.7, 25.1, 24.8
  - CEMAC: 22.1, 34.2, 33.0, 28.9, 30.9, 30.9, 36.4, 35.9, 34.2, 29.2, 26.0
  - WAEMU: 18.9, 18.7, 21.7, 19.4, 21.3, 22.2, 21.8, 21.2, 21.8, 23.3, 23.4
  - COMESA (SSA members): 22.5, 23.0, 23.0, 24.3, 25.3, 24.5, 25.7, 26.7, 25.5, 24.9, 25.5
  - EAC-5: 23.3, 23.1, 24.3, 24.2, 27.1, 25.7, 25.4, 25.8, 24.3, 24.1, 24.9
  - ECOWAS: 17.4, 19.3, 18.7, 17.8, 17.8, 17.5, 17.2, 17.6, 17.8, 15.3, 16.1
  - SACU: 20.5, 21.3, 20.1, 20.1, 20.4, 20.7, 21.6, 21.3, 21.6, 19.8, 19.8
  - SADC: 20.6, 21.2, 20.4, 20.9, 21.5, 22.6, 22.4, 21.8, 19.8, 19.8, 20.8

### Table SA7. Gross National Savings (Percent of GDP)
- Panel reports gross national savings (percent of GDP) for the same year series.
- Selected aggregate and group series (exact values preserved):
  - Sub-Saharan Africa: 22.1, 18.9, 19.9, 19.9, 18.9, 18.2, 17.6, 15.5, 15.6, 15.6, 16.2
  - Median: 15.5, 14.7, 17.3, 17.3, 16.8, 16.0, 15.3, 15.7, 15.9, 14.6, 14.8
  - Excluding Nigeria and South Africa: 20.3, 15.9, 20.3, 20.3, 20.4, 19.9, 19.2, 19.6, 17.2, 16.9, 17.7
  - Oil-exporting countries: 30.0, 22.0, 22.0, 23.3, 21.3, 21.5, 20.3, 17.5, 11.9, 12.9, 13.9
  - Oil-exporting countries (Excluding Nigeria): 28.4, 16.8, 26.4, 26.4, 27.4, 28.7, 24.8, 21.6, 10.9, 12.5, 13.4
  - Oil-importing countries: 16.9, 16.6, 18.2, 17.8, 17.0, 16.0, 16.6, 17.7, 17.8, 17.0, 17.7
  - Excluding South Africa: 17.7, 15.7, 15.7, 18.3, 17.9, 18.4, 17.3, 19.0, 19.2, 18.2, 18.6
  - Middle-income countries: 23.5, 20.3, 20.3, 19.4, 19.9, 19.6, 18.9, 17.5, 14.9, 15.1, 15.8
  - Low-income countries: 16.1, 13.1, 17.0, 16.8, 16.2, 15.7, 18.0, 17.6, 17.2, 16.6, 17.3
  - Countries in fragile situations: 12.9, 10.9, 15.9, 12.9, 11.1, 11.4, 11.3, 12.9, 9.2, 9.9, 11.6
  - CFA franc zone: 20.8, 20.6, 22.2, 23.2, 24.1, 22.3, 23.0, 17.8, 17.2, 18.6, 19.6
  - CEMAC: 28.5, 26.4, 28.3, 29.4, 33.0, 29.0, 29.5, 29.8, 21.3, 19.2, 23.7
  - WAEMU: 13.6, 15.2, 16.5, 17.3, 15.3, 15.5, 15.8, 16.9, 14.9, 15.8, 16.5
  - COMESA (SSA members): 18.0, 15.3, 19.0, 18.0, 18.2, 18.6, 17.4, 18.6, 20.1, 19.3, 19.1
  - EAC-5: 19.3, 16.9, 16.9, 17.2, 16.3, 16.7, 14.1, 16.3, 17.7, 17.2, 16.6
  - ECOWAS: 25.7, 21.5, 19.6, 17.9, 17.9, 17.7, 16.1, 15.7, 12.8, 13.8, 14.2
  - SACU: 17.4, 18.5, 18.4, 18.4, 16.1, 16.7, 17.0, 17.8, 17.0, 16.7, 16.4
  - SADC: 18.8, 16.1, 19.7, 18.8, 17.8, 16.1, 17.1, 17.2, 16.2, 15.2, 15.5

*Italicized source attribution as provided in the original content.*

### Section 3

### sreo0517-app - Section 3

### Table SA8. Overall Fiscal Balance, Including Grants (Percent of GDP)
- Sub-Saharan Africa: 1.7–4.5–3.4–1.1–1.8–3.1–3.5–4.1–4.5–4.5–3.9
- Median: –0.7–3.6–3.4–2.6–2.3–2.9–3.6–4.2–4.6–4.4–3.8
- Excluding Nigeria and South Africa: 1.2–3.7–2.0–0.4–1.7–3.2–4.4–4.8–5.0–4.6–3.9
- Oil-exporting countries: 5.5–5.0–2.3 2.1 0.6–2.3–3.2–4.2–4.8–5.0–4.0
  - Excluding Nigeria: 7.2–4.2 2.3 5.7 1.7–1.9–5.4–5.9–5.8–4.8–3.4
- Oil-importing countries: –0.6–4.2–4.3–3.6–3.6–3.9–3.8–4.1–4.3–4.2–3.8
- Excluding South Africa: –1.2–3.5–3.8–3.5–3.3–3.8–3.9–4.5–4.8–4.6–4.0
- Middle-income countries: 2.2–4.9–3.6–1.0–1.6–3.3–3.6–4.2–4.8–4.7–4.0
- Excluding Nigeria and South Africa: 2.8–4.2–1.5 0.6–1.1–3.7–5.4–5.6–6.0–5.2–4.1
- Low-income countries: –1.3–3.1–2.6–1.9–2.6–2.5–2.9–3.9–3.8–3.9–3.6
- Excluding low-income countries in fragile situations: –1.6–2.9–3.3–2.5–2.6–3.0–3.8–3.4–3.4–4.1–3.9
- Countries in fragile situations: 0.4–2.3–0.0–0.0–1.8–1.9–2.3–4.9–4.9–3.6–3.0
- CFA franc zone: 4.8–2.0–0.7–0.3–1.3–3.4–3.4–5.5–5.7–4.1–3.0
- CEMAC: 9.5–0.8–1.1 2.5 0.1–3.7–3.5–7.1–7.2–3.4–2.2
- WAEMU: –0.1–3.2–2.5–3.6–2.9–3.1–3.4–4.1–4.5–4.6–3.6
- COMESA (SSA members): –1.7–2.3–2.4–2.6–2.2–3.1–3.2–4.2–4.6–4.6–4.0
- EAC-5: –1.9–3.7–4.5–3.4–4.2–4.5–4.9–5.3–5.3–5.3–4.9
- ECOWAS: 3.0–5.1–4.5–1.0–1.2–3.3–2.9–3.8–4.7–4.9–4.1
- SACU: 0.2–5.1–4.8–3.7–3.6–3.5–3.3–3.7–3.7–3.6–3.5
- SADC: 0.2–5.0–3.1–1.6–1.9–2.7–3.7–3.6–3.9–4.2–3.6

### Table SA9. Overall Fiscal Balance, Excluding Grants (Percent of GDP)
- Sub-Saharan Africa: 0.4–5.5–4.3–1.9–2.5–3.8–4.2–4.8–5.1–5.1–4.4
- Median: –4.4–6.7–7.0–4.7–4.7–5.8–6.6–7.7–7.0–6.1–5.8
- Excluding Nigeria and South Africa: –1.9–5.9–4.0–2.1–3.3–4.7–5.9–6.2–6.1–5.9–4.9
- Oil-exporting countries: 5.1–5.1–2.3 2.0 0.4–2.5–3.3–4.4–4.9–5.1–4.1
  - Excluding Nigeria: 5.8–4.6–2.1 5.3 1.2–2.5–6.0–6.5–6.2–5.2–3.7
- Oil-importing countries: –2.4–5.8–5.7–4.8–4.8–5.0–4.9–5.2–5.2–5.2–4.7
- Excluding South Africa: –5.0–6.5–6.7–5.9–5.4–5.7–5.8–6.1–6.1–6.1–5.4
- Middle-income countries: 1.7–5.2–3.8–1.2–1.8–3.4–3.8–4.4–5.0–4.9–4.2
- Excluding Nigeria and South Africa: 1.0–5.1–2.3 0.0–1.7–4.2–5.9–6.2–6.6–5.9–4.7
- Low-income countries: –6.5–7.2–6.8–5.3–5.6–5.4–5.7–6.3–5.5–5.9–5.3
- Excluding low-income countries in fragile situations: –7.4–7.5–7.3–6.5–5.7–5.9–6.0–5.1–4.8–5.8–5.5
- Countries in fragile situations: –2.8–4.9–3.2–2.2–4.1–4.4–5.4–7.7–6.9–5.9–4.8
- CFA franc zone: 1.4–3.8–2.0–1.6–2.6–5.1–5.1–7.2–7.3–6.0–4.8
- CEMAC: 7.0–1.6–0.6 2.1 –0.5–4.2–4.1–7.9–8.1–4.5–3.0
- WAEMU: –4.6–6.0–4.7–5.9–5.0–6.0–6.1–6.5–6.7–7.1–6.2
- COMESA (SSA members): –5.3–5.2–5.5–4.7–4.1–4.8–5.0–5.7–5.8–6.0–5.1
- EAC-5: –5.6–6.6–7.5–6.2–6.4–6.5–6.6–6.6–6.3–6.6–6.0
- ECOWAS: 1.8–5.9–5.0–1.6–1.7–3.8–3.4–4.4–5.2–5.5–4.6
- SACU: 0.2–5.2–4.9–3.7–3.7–3.5–3.4–3.8–3.8–3.6–3.6
- SADC: –0.6–5.7–3.9–2.1–2.5–3.2–4.3–4.1–4.3–4.6–4.0

### Table SA10. Government Revenue, Excluding Grants (Percent of GDP)
- Sub-Saharan Africa: 23.4–19.1–20.6–23.1–21.9–20.1–19.3–17.7–16.5–17.2–17.0
- Median: 16.1–16.0–17.6–17.5–17.6–18.4–18.1–18.4–18.3–18.2–18.4
- Excluding Nigeria and South Africa: 21.8–20.0–21.9–23.9–23.8–22.7–21.8–19.5–17.8–18.1–18.2
- Oil-exporting countries: 25.4–16.4–18.9–24.2–21.3–17.9–16.3–12.1–8.9–10.1–10.0
  - Excluding Nigeria: 34.3–29.4–33.9–36.6–36.0–32.8–29.8–23.6–18.4–18.9–18.9
- Oil-importing countries: 22.2–21.0–21.8–22.3–22.3–22.0–22.1–22.4–21.8–22.1–22.1
- Excluding South Africa: 16.6–16.0–16.8–17.3–17.3–18.0–17.9–18.1–17.6–17.8–17.9
- Middle-income countries: 25.5–20.5–21.8–24.6–23.3–21.0–20.2–18.3–16.9–17.8–17.4
- Excluding Nigeria and South Africa: 27.7–24.9–26.7–29.4–29.4–27.6–26.3–22.9–20.0–20.4–20.4
- Low-income countries: 12.4–12.8–14.5–15.5–15.4–15.7–15.8–15.4–15.1–15.2–15.3
- Excluding low-income countries in fragile situations: 12.7–12.7–13.5–14.1–14.4–15.4–15.3–15.5–15.7–15.7–15.8
- Countries in fragile situations: 15.9–15.4–18.2–18.8–19.1–18.7–18.3–16.3–15.7–15.8–16.0
- CFA franc zone: 21.2–20.0–20.3–20.8–22.2–21.8–20.7–19.0–17.7–18.0–18.4
- CEMAC: 25.4–23.4–23.4–23.4–25.3–26.3–25.6–24.0–19.7–16.3–17.5
- WAEMU: 16.8–16.7–17.0–15.6–17.0–17.6–17.4–18.3–18.3–18.8–19.0
- COMESA (SSA members): 15.0–14.3–15.8–16.3–16.6–16.5–16.7–16.8–16.2–16.3–16.5
- EAC-5: 14.5–14.3–14.7–15.2–15.1–15.5–15.5–15.7–16.1–17.0–17.8
- ECOWAS: 19.6–11.6–13.3–17.4–15.0–12.5–12.5–9.9–8.5–9.3–9.4
- SACU: 28.0–27.3–27.0–27.6–28.0–28.3–28.3–30.0–29.6–29.8–29.9
- SADC: 27.1–25.5–26.9–28.5–28.6–27.7–27.2–27.2–26.1–24.1–24.1

### Table SA11. Government Expenditure (Percent of GDP)
- Sub-Saharan Africa: 23.0–24.6–24.9–25.0–24.3–23.9–23.5–22.5–21.6–22.4–21.4
- Median: 21.5–23.7–23.9–24.4–26.1–27.1–28.1–28.3–26.5–26.4–24.6
- Excluding Nigeria and South Africa: 23.7–25.9–26.0–26.0–27.1–27.4–27.7–25.7–25.9–24.0–23.1
- Oil-exporting countries: 20.3–21.5–21.2–22.2–20.8–20.8–19.6–16.4–13.8–15.2–14.1
  - Excluding Nigeria: 28.5–33.9–31.9–31.8–33.4–34.8–35.3–35.8–30.1–24.6–24.1
- Oil-importing countries: 24.6–26.8–27.5–27.0–27.1–27.0–27.1–27.6–27.0–27.3–26.8
- Excluding South Africa: 21.6–22.5–23.5–23.5–23.4–23.7–23.9–24.1–23.7–24.0–23.3
- Middle-income countries: 23.8–25.7–25.6–25.8–25.0–24.6–24.0–22.7–21.9–22.7–21.6
- Excluding Nigeria and South Africa: 26.7–30.0–29.0–29.0–29.3–31.2–31.8–32.2–29.1–26.6–25.1
- Low-income countries: 18.9–20.0–21.3–20.8–20.8–21.1–21.5–21.7–20.7–21.1–20.6
- Excluding low-income countries in fragile situations: 20.1–20.2–20.8–20.8–20.6–21.2–21.3–21.3–20.6–20.5–21.3
- Countries in fragile situations: 18.7–20.3–21.5–21.5–21.1–23.2–23.1–23.7–24.4–22.6–20.9
- CFA franc zone: 19.8–23.8–22.3–22.3–24.4–24.9–26.9–25.8–24.0–23.0–23.2
- CEMAC: 18.4–25.0–22.9–23.2–23.6–29.2–28.1–27.6–24.4–21.5–20.6
- WAEMU: 21.3–22.7–21.7–21.6–22.6–23.8–23.5–24.9–25.5–25.9–25.2
- COMESA (SSA members): 20.3–19.5–21.3–20.9–20.9–21.3–21.6–22.4–22.0–22.3–21.6
- EAC-5: 20.2–20.9–22.2–23.3–21.4–21.6–21.9–23.2–22.7–23.3–23.8
- ECOWAS: 17.8–17.5–18.4–18.9–16.8–16.3–15.4–14.3–13.7–14.9–14.0
- SACU: 27.9–32.5–31.9–31.3–31.7–31.8–32.3–33.7–33.4–33.5–33.5
- SADC: 27.7–31.2–30.8–30.6–31.1–31.0–31.4–30.2–28.3–28.8–28.1

### Table SA12. Government Debt (Percent of GDP)
- Sub-Saharan Africa: 33.4–26.5–27.9–28.7–28.5–30.0–31.6–37.4–42.5–44.6–44.9
- Median: 49.7–33.9–32.7–32.7–34.2–33.9–39.2–47.8–50.3–52.1–53.2
- Excluding Nigeria and South Africa: 47.6–35.2–35.8–32.8–32.9–35.2–40.0–49.7–52.9–52.6–53.2
- Oil-exporting countries: 21.2–13.0–16.0–16.0–16.2–17.3–17.9–23.6–30.8–33.6–33.9
  - Excluding Nigeria: 33.7–22.1–30.9–24.4–24.3–27.6–35.3–53.2–59.6–54.1–55.3
- Oil-importing countries: 41.1–35.8–36.3–37.8–38.2–41.0–44.1–48.9–50.6–52.1–52.9
- Excluding South Africa: 53.2–40.8–37.9–37.3–35.8–38.8–42.3–48.4–50.7–52.0–52.4
- Middle-income countries: 28.4–23.0–26.4–28.1–27.8–28.9–29.3–29.9–35.3–40.9–43.3
- Excluding Nigeria and South Africa: 39.8–30.5–35.8–33.7–32.0–35.4–40.9–53.1–57.0–55.2–55.4
- Low-income countries: 59.7–42.0–35.8–31.7–31.8–34.7–38.4–45.4–47.9–49.3–50.3
- Excluding low-income countries in fragile situations: 43.6–29.2–30.9–32.0–30.9–34.8–38.4–46.8–49.4–50.9–51.5
- Countries in fragile situations: 82.4–61.8–44.7–37.7–35.3–36.4–39.6–46.0–48.2–49.2–50.5
- CFA franc zone: 45.0–32.9–28.9–30.3–27.3–29.7–34.6–40.4–45.8–46.9–47.1
- CEMAC: 38.7–21.4–16.7–18.3–19.1–22.4–28.1–34.9–44.6–44.2–44.4
- WAEMU: 51.9–44.3–41.9–43.9–37.3–36.4–37.3–40.6–45.1–48.9–49.1
- COMESA (SSA members): 59.8–43.1–37.1–35.9–35.3–37.6–40.8–47.4–49.7–52.0–53.4
- EAC-5: 42.1–29.8–33.8–33.2–32.8–33.0–35.4–39.0–43.0–45.6–47.9
- ECOWAS: 27.5–18.7–18.4–20.4–19.6–20.0–18.9–21.5–28.9–32.8–32.5
- SACU: 29.4–29.1–33.4–37.0–39.4–42.0–44.6–47.7–48.2–50.1–51.5
- SADC: 34.2–31.5–36.0–35.0–35.4–36.4–38.7–42.1–49.9–51.9–53.4

*Tables and figures are taken from the Statistical Appendix (see sources and footnotes on page 72).*

### Section 4

### sreo0517-app - Section 4

### Table SA13. Broad Money (Percent of GDP)
- Rep. of: 6.6 10.1 10.5 10.6 11.6 11.5 11.8 12.1 11.7 12.3 12.4
- Congo, Rep. of: 17.1 23.3 23.3 27.2 33.1 33.5 37.7 46.1 41.8 41.3 38.9
- Côte d'Ivoire: 11.3 14.1 15.7 18.7 15.3 14.9 15.0 15.8 15.6 15.3 15.8
- Equatorial Guinea: 6.4 10.5 12.3 10.6 14.8 16.7 14.6 17.0 16.8 15.7 16.3
- Eritrea: 130.2 121.6 123.2 114.7 114.1 118.3 119.9 118.6 119.7 122.1 123.4
- Ethiopia: 34.6 24.8 27.0 27.6 25.3 27.1 28.1 28.5 29.1 27.2 26.1
- Mauritius: 98.5 99.5 100.4 98.8 100.5 99.8 102.9 108.5 110.0 110.0 110.0
- Seychelles: 84.6 55.5 62.1 60.2 52.0 58.9 68.8 67.2 72.9 72.9 72.9
- South Africa: 72.5 77.7 75.8 74.6 72.9 70.8 70.7 70.7 74.1 72.9 72.9
- Zimbabwe: 10.7 16.9 24.7 28.3 29.8 28.8 30.8 33.4 39.8 54.2 61.3
- Sub-Saharan Africa (aggregate): 34.9 39.3 37.6 36.4 36.6 35.5 36.3 36.3 37.8 37.5 37.6
- Median: 21.8 24.8 26.1 27.7 29.8 28.8 30.8 32.7 31.1 31.5 31.7
- Oil-exporting countries: 16.5 25.8 22.3 20.9 22.9 21.7 23.6 24.9 25.5 24.7 25.0
- Oil-importing countries: 46.6 48.8 48.7 48.1 46.6 45.6 45.8 47.4 46.4 46.4 46.0

### Table SA14. Broad Money Growth (Percent)
- Angola: 6.6 10.2 1.5 5.3 3.7 1.4 4.9 1.1 2.3 1.8 3.1 9.3
- Benin: 15.6 6.2 11.6 9.1 9.0 17.3 16.7 7.9 5.9 11.5 10.7
- Burundi: 21.1 19.8 12.5 6.6 11.3 13.2 9.8 4.9 12.0 11.0 18.0
- Ghana: 31.3 26.0 34.4 32.2 24.3 19.1 36.8 23.3 25.1 17.4 15.5
- Mauritius: 13.0 2.4 6.9 6.4 8.2 5.8 8.7 10.2 8.2 6.4 6.6
- Mozambique: 22.2 34.6 17.6 23.6 25.7 21.2 27.3 21.7 12.1 9.2 12.4
- Nigeria: 37.2 17.1 6.9 4.0 29.1 1.0 20.4 5.9 18.7 19.2 18.7
- Seychelles: 7.9 7.0 13.5 4.5 -0.6 23.7 26.6 2.9 12.1 2.1 6.9 7.2
- South Africa: 18.9 1.8 6.9 8.3 5.2 5.9 7.3 10.3 6.1 7.1 7.3
- Sub-Saharan Africa (aggregate): 25.4 14.7 13.3 12.5 16.7 7.7 15.3 11.2 12.1 13.1 13.3
- Median: 17.3 16.4 18.4 14.0 13.4 10.8 13.1 11.7 9.2 11.0 10.9
- Oil-exporting countries: 36.7 16.4 8.2 2.3 9.3 24.5 3.4 17.9 6.8 6.8 16.9
- Oil-importing countries: 18.7 13.5 16.7 14.9 11.2 11.1 13.4 14.5 9.9 11.2 10.9

### Table SA15. Claims on Nonfinancial Private Sector (Percent change)
- Angola: 71.9 60.5 19.2 28.8 24.2 15.0 1.1 17.6 6.4
- Benin: 16.4 11.9 10.3 11.1 8.5 11.5 15.5 13.8 13.7 9.0
- Botswana: 21.2 10.3 11.0 11.1 8.2 12.5 13.8 13.7 9.0 9.1
- Burundi: 8.4 25.5 27.0 51.1 2.5 7.8 9.4 6.0 17.3
- Congo, Dem. Rep. of: 91.1 41.1 18.0 17.1 25.2 26.5 22.9 22.9 17.4 28.1
- Ghana: 44.1 16.2 24.8 29.0 32.9 29.0 41.8 31.7 9.1
- Mozambique: 27.5 58.6 29.3 6.4 19.9 15.4 25.4 25.2 22.1 24.8
- Nigeria: 47.0 22.0 -5.6 2.6 6.6 6.9 9.4 18.0 4.4 22.1
- Rwanda: 30.2 5.7 9.9 27.0 27.6 35.0 11.4 19.3 30.1 7.8
- South Sudan: ... ... ... -34.0 125.7 45.4 49.8 51.2 221.5
- Sub-Saharan Africa (aggregate): 30.3 16.5 8.3 12.6 13.3 12.2 15.4 12.1 12.7
- Median: 20.8 13.4 19.6 23.5 17.4 13.5 14.1 13.3 7.9
- Oil-exporting countries: 44.0 24.8 0.6 7.7 10.4 11.8 16.1 7.2 18.2
- Oil-importing countries: 22.4 11.0 14.3 16.3 15.5 12.4 14.9 15.9 8.9
- Middle-income countries: 31.1 14.9 3.8 10.4 10.4 11.6 14.6 9.2 11.8

### Table SA16. Claims on Nonfinancial Private Sector (Percent of GDP)
- Angola: 8.5 21.5 20.2 20.2 22.3 23.4 22.9 27.7 22.7 22.8
- Benin: 16.3 20.8 22.0 22.9 22.2 22.6 22.6 21.7 22.5
- Botswana: 22.1 28.9 25.3 27.5 31.3 32.0 31.0 33.8 32.9
- Cabo Verde: 41.4 58.0 61.9 65.2 64.3 64.3 62.6 63.3 62.7 61.9
- Mauritius: 75.1 82.7 87.9 91.3 100.8 108.1 100.3 104.3 97.2
- Mozambique: 12.4 23.8 26.8 25.7 27.2 28.2 32.0 35.1 37.6
- Namibia: 48.6 48.6 48.6 49.1 49.3 48.6 48.5 49.7 53.8 54.4
- Nigeria: 12.0 21.1 15.9 14.2 13.3 13.0 13.8 13.7 15.4
- South Africa: 71.4 74.6 70.4 67.6 68.7 68.6 67.1 66.9 68.9 67.5
- Sub-Saharan Africa (aggregate): 28.2 31.9 29.2 27.9 28.0 27.7 27.7 29.9 29.0 28.8
- Median: 10.7 14.2 15.3 15.3 16.1 16.8 16.6 16.2 19.8
- Oil-exporting countries: 10.7 19.2 15.3 13.8 13.7 13.8 14.5 15.3 16.2
- Oil-importing countries: 39.4 40.9 39.2 38.4 38.4 38.0 38.0 38.0 39.1 37.7

### Table SA17. Exports of Goods and Services (Percent of GDP)
- Angola: 77.3 54.9 62.4 62.4 65.4 62.3 55.7 48.0 33.4 29.9 30.4 28.5
- Benin: 13.7 14.3 17.9 16.0 13.2 15.5 15.8 15.9 16.4 18.2 19.6
- Botswana: 50.9 40.5 40.6 50.0 48.4 61.9 60.8 52.1 56.9 44.9 43.8
- Cabo Verde: 35.8 33.2 38.3 42.3 45.0 47.0 48.1 42.8 43.1 44.2 44.8
- Congo, Rep. of: 83.5 69.6 75.5 79.5 75.7 70.4 68.0 62.7 56.5 68.5 81.7
- Equatorial Guinea: 82.2 63.6 71.4 73.4 75.7 69.6 67.1 59.3 54.1 56.3 56.7
- Ghana: 23.8 29.7 29.3 36.9 33.6 40.1 33.9 39.5 44.0 40.2 43.5 43.6
- Mauritius: 55.6 47.0 50.9 51.7 52.9 47.3 49.8 49.8 48.0 46.5 47.5
- Mozambique: 29.0 24.5 24.7 26.5 30.6 29.8 27.5 27.9 32.9 39.8 43.5
- Seychelles: 85.8 108.0 93.8 100.2 105.2 95.6 101.8 95.4 99.5 101.7 99.8
- South Sudan: ... 72.4 9.3 28.0 34.0 21.0 61.0 40.6 40.6 45.7
- Sub-Saharan Africa (aggregate): 32.7 27.8 30.4 33.7 31.1 29.7 26.9 26.9 23.0 22.4 24.0 23.4
- Median: 28.1 24.5 24.8 24.8 28.1 30.6 30.5 29.3 27.5 28.1 28.9
- Oil-exporting countries: 39.5 29.5 32.8 37.2 32.7 29.2 29.5 24.3 17.0 16.1 19.6 18.2
- Oil-importing countries: 28.8 26.6 28.8 31.0 29.2 29.9 29.9 29.3 27.9 29.2 27.2

*Italic: Source — sreo0517-app - Section 4 (tables and figures as provided).*

### Section 5

### sreo0517-app - Section 5

### Imports of Goods and Services (Percent of GDP)
- Sub-Saharan Africa: 30.4 30.6 30.7 33.0 32.1 30.8 30.5 29.6 27.2 28.2 27.3
- Median: 37.5 39.8 43.1 42.2 44.3 41.1 41.6 40.0 40.3 40.6 38.9
- Excluding Nigeria and South Africa: 38.3 41.0 41.0 42.5 42.4 40.7 40.7 40.7 39.1 34.9 35.1
- Oil-exporting countries: 24.8 27.1 26.2 28.0 24.7 22.4 22.8 21.8 21.6 17.9 19.8 18.0
- Excluding Nigeria: 40.2 48.7 42.5 42.5 39.7 39.8 38.7 41.1 38.9 32.7 31.8 30.2
- Oil-importing countries: 33.9 33.0 33.8 36.7 37.9 38.1 37.5 36.3 33.7 33.8 34.2
- Excluding South Africa: 37.6 37.8 40.4 43.8 43.8 41.7 40.5 40.5 39.1 35.6 36.3 36.6
- Middle-income countries: 29.7 29.6 29.1 31.2 30.3 29.0 28.7 28.0 25.4 26.5 25.1
- Low-income countries: 34.2 35.2 38.7 41.4 40.5 38.6 37.7 35.7 33.4 33.7 34.8
- Countries in fragile situations: 41.2 44.8 47.2 46.0 45.1 42.6 43.4 40.9 38.2 38.5 37.9
- CFA franc zone: 35.8 38.9 40.7 38.0 40.3 39.9 39.5 40.5 36.8 37.4 36.2

### Trade Balance on Goods (Percent of GDP)
- Sub-Saharan Africa: 6.1 2.3 4.4 5.6 3.5 3.0 0.8 –3.1 –2.0 –1.1 –1.0
- Median: –8.2 –10.8 –10.5 –10.1 –11.1 –7.9 –7.5 –9.1 –7.5 –7.8 –7.6
- Excluding Nigeria and South Africa: 5.7 –0.9 3.4 6.8 2.7 2.0 –0.2 –5.4 –4.0 –3.2 –3.0
- Oil-exporting countries: 22.8 12.3 15.1 18.2 15.9 14.0 8.7 1.6 3.1 5.4 5.3
- Excluding Nigeria: 39.1 20.2 31.3 38.0 31.5 26.7 20.4 9.1 10.7 13.4 13.5
- Oil-importing countries: –4.0 –4.7 –3.2 –3.8 –6.5 –6.4 –6.5 –7.1 –5.5 –5.6 –5.7
- Excluding South Africa: –7.6 –9.8 –8.6 –9.3 –11.1 –9.7 –9.7 –10.8 –8.7 –9.0 –8.8
- Middle-income countries: 8.8 5.4 7.1 8.2 6.7 5.9 3.4 –0.9 0.3 1.3 1.5
- Low-income countries: –7.7 –11.5 –9.6 –6.7 –11.5 –9.4 –10.0 –11.4 –9.9 –9.3 –9.6
- Countries in fragile situations: 5.1 –2.2 2.0 8.3 –0.3 2.0 0.1 –3.8 –2.3 –1.1 0.8
- CFA franc zone: 14.1 7.0 9.4 14.7 12.0 9.1 7.2 1.4 1.0 2.6 3.6

### External Current Account (Percent of GDP)
- Sub-Saharan Africa: 2.1 –2.8 –0.9 –0.8 –1.8 2.4 3.9 6.0 4.0 3.8 3.7
- Median: –6.1 –7.5 –8.5 –7.3 –7.4 –7.2 –8.4 –8.0 –7.7 –7.6 –7.0
- Excluding Nigeria and South Africa: –0.1 –7.3 –3.6 –2.0 –3.7 –4.8 –6.3 –8.8 –6.9 –6.5 –6.5
- Oil-exporting countries: 12.8 0.3 3.3 4.5 4.7 3.4 –0.9 –5.2 –1.5 –0.8 –0.4
- Excluding Nigeria: 10.0 –8.7 2.7 8.2 6.7 2.9 –3.4 –10.4 –6.7 –4.4 –3.3
- Oil-importing countries: –4.3 –4.9 –3.9 –4.7 –7.0 –7.4 –6.7 –6.7 –5.7 –5.9 –6.2
- Excluding South Africa: –4.3 –6.7 –6.3 –7.3 –8.6 –8.5 –7.7 –8.1 –7.0 –7.3 –7.6
- Middle-income countries: 3.8 –1.1 0.6 0.7 0.2 –0.5 –2.5 –4.8 –2.6 –2.4 –2.0
- Low-income countries: –6.2 –10.2 –8.6 –8.1 –11.2 –10.3 –9.7 –10.5 –8.8 –8.6 –9.5
- Countries in fragile situations: –3.8 –9.2 –6.4 –3.5 –5.9 –6.5 –6.2 –8.5 –6.6 –5.5 –4.6
- CFA franc zone: 0.7 –5.7 –4.5 –0.2 –1.3 –3.8 –4.6 –8.6 –7.9 –6.6 –5.3

### Net Foreign Direct Investment (Percent of GDP)
- Sub-Saharan Africa: 2.1 2.7 2.6 2.2 1.9 1.4 1.5 2.1 1.5 1.9 2.2
- Median: 2.6 2.5 2.9 3.3 3.1 2.8 2.6 2.7 2.1 2.6 3.1
- Excluding Nigeria and South Africa: 2.9 3.3 3.4 4.7 3.0 3.4 2.2 3.2 2.8 3.4 4.0
- Oil-exporting countries: 2.5 2.6 0.6 0.6 1.1 –0.5 –0.7 0.6 2.1 0.7 1.2 1.0
- Excluding Nigeria: 3.4 3.1 –1.2 –0.6 –4.1 –4.1 0.7 6.7 0.4 2.0 1.8
- Oil-importing countries: 1.9 2.8 4.1 3.0 3.9 3.2 2.4 2.1 2.1 2.4 3.0
- Excluding South Africa: 2.9 3.3 7.2 4.9 6.9 5.1 4.4 4.1 3.5 3.9 4.8
- Middle-income countries: 1.9 2.6 2.3 1.6 1.0 0.5 0.9 1.6 1.0 1.2 1.2
- Low-income countries: 3.1 3.2 4.5 5.1 6.1 5.3 4.1 3.9 3.3 4.2 5.7
- Countries in fragile situations: 4.7 4.0 6.0 5.1 4.1 4.0 3.0 4.1 3.8 3.4 3.5
- CFA franc zone: 4.2 3.3 3.2 3.3 1.5 3.3 2.9 3.8 3.7 3.3 3.3

### Real Effective Exchange Rates (Annual average; index, 2000 = 100)
- Sub-Saharan Africa: 107.1 114.3 115.4 114.9 120.1 120.8 121.7 121.8 117.1
- Median: 106.0 111.4 108.6 108.7 107.8 106.9 106.9 103.7 102.0
- Excluding Nigeria and South Africa: 102.5 119.1 106.7 106.6 112.4 115.0 114.9 116.0 116.6
- Oil-exporting countries: 129.0 140.8 147.3 148.1 161.6 171.5 181.7 179.8 168.5
- Excluding Nigeria: 137.7 167.7 158.6 160.6 166.9 174.7 180.1 176.9 176.0
- Oil-importing countries: 96.5 101.5 99.9 98.7 100.0 96.7 93.8 94.7 92.7
- Middle-income countries: 114.5 117.6 126.2 125.4 129.7 129.9 130.2 129.1 123.1
- Low-income countries: 81.4 101.1 80.1 80.4 87.8 89.7 92.0 95.3 94.0
- CFA franc zone: 115.5 123.3 116.2 116.6 114.1 117.4 119.2 113.6 114.2
- CEMAC: 118.0 128.6 122.0 121.4 119.5 123.3 126.3 121.4 123.6

*Regional Economic Outlook: Sub‑Saharan Africa — Statistical Appendix, Section 5 (tables SA18–SA22).*

### Section 6

### sreo0517-app - Section 6

### Table SA23. Nominal Effective Exchange Rates (Annual average; index, 2000 = 100)
- Sub-Saharan Africa: 68.3, 59.1, 58.6, 55.4, 54.5, 52.6, 50.9, 48.6, 43.3
- Median: 82.3, 68.5, 70.7, 73.0, 67.2, 59.2, 60.3, 59.5, 54.9
- Excluding Nigeria and South Africa: 61.4, 56.0, 52.0, 48.9, 48.6, 48.1, 46.7, 45.2, 42.7
- Oil-exporting countries: 61.2, 55.5, 53.3, 50.7, 51.3, 51.8, 52.3, 48.9, 40.7
- Oil-importing countries: 73.0, 61.2, 62.1, 58.5, 56.3, 52.6, 49.3, 47.9, 44.7
- CFA franc zone: 114.6, 119.7, 114.5, 116.0, 112.8, 116.9, 119.8, 114.6, 117.1
- WAEMU: 115.2, 120.6, 115.3, 116.9, 114.1, 119.0, 123.3, 118.5, 120.8

### Table SA24. External Debt, Official Debt, Debtor Based (Percent of GDP)
- Sub-Saharan Africa: 129.9, 134.0, 148.9, 160.6, 160.1, 156.2, 137.0, 137.8, 142.2, 140.0
- Median: 104.4, 109.9, 116.0, 117.5, 110.9, 110.8, 107.1, 112.2, 111.5, 113.8
- Excluding Nigeria and South Africa: 134.4, 137.5, 159.5, 170.7, 167.6, 162.6, 148.4, 150.6, 151.2, 149.5
- Oil-exporting countries: 135.2, 125.7, 143.2, 166.9, 167.8, 159.8, 112.1, 103.3, 117.2, 116.4
  - Excluding Nigeria: 132.6, 117.6, 144.3, 180.0, 180.0, 165.1, 101.4, 89.8, 110.4, 110.4
- Oil-importing countries: 126.4, 139.7, 152.9, 155.7, 153.6, 152.9, 157.2, 161.7, 159.1, 157.3
- Middle-income countries: 124.6, 127.8, 141.6, 155.6, 155.7, 149.2, 124.2, 122.1, 128.7, 127.4
- Low-income countries: 157.5, 161.3, 186.1, 184.6, 180.4, 186.6, 186.3, 191.8, 188.5, 184.6
- Countries in fragile situations: 207.6, 208.3, 238.6, 241.7, 242.3, 255.9, 260.0, 273.8, 270.3, 266.7
- CFA franc zone: 119.6, 126.0, 145.1, 158.4, 153.6, 146.7, 127.5, 130.8, 136.6, 137.5

### Table SA25. Terms of Trade on Goods (Index, 2000 = 100)
- Sub-Saharan Africa: 5.1, 5.2, 4.1, 4.6, 5.3, 5.0, 5.3, 5.8, 4.8, 4.7, 4.5
- Median: 3.5, 4.4, 3.7, 3.7, 3.5, 3.7, 4.0, 3.6, 3.0, 3.0, 3.3
- Excluding Nigeria and South Africa: 3.8, 4.2, 3.9, 4.3, 4.3, 4.2, 4.7, 4.7, 3.8, 3.7, 3.6
- Oil-exporting countries: 7.3, 6.4, 4.4, 4.4, 5.3, 6.7, 6.0, 6.0, 7.3, 5.6, 5.0
  - Excluding Nigeria: 3.7, 4.8, 4.7, 6.1, 6.4, 6.0, 6.9, 7.7, 5.2, 4.9, 4.6
- Oil-importing countries: 3.6, 4.3, 3.9, 4.1, 4.1, 4.1, 4.6, 4.6, 4.3, 4.2, 4.1
- Middle-income countries: 5.5, 5.5, 4.3, 4.9, 5.8, 5.5, 5.8, 6.7, 5.6, 5.4, 5.1
- Low-income countries: 3.2, 3.5, 3.0, 3.2, 2.9, 2.8, 3.0, 2.6, 2.4, 2.2, 2.3
- CFA franc zone: 4.0, 4.9, 4.3, 4.6, 4.3, 4.2, 4.5, 3.8, 2.3, 2.4, 2.5

### Table SA26. Reserves (Months of imports of goods and services)
- Sub-Saharan Africa: 43.2, 50.1, 52.8, 52.8, 53.5, 55.5, 56.7, 58.9, 57.8
- Median: 26.7, 33.3, 34.6, 34.9, 33.9, 35.3, 38.1, 44.8, 42.9
- Excluding Nigeria and South Africa: 41.7, 48.6, 51.7, 51.8, 52.5, 54.7, 55.9, 57.9, 58.8
- Oil-exporting countries: 18.5, 27.2, 26.5, 24.6, 26.8, 28.1, 30.1, 40.4, 41.9
  - Excluding Nigeria: 17.1, 25.3, 25.7, 23.8, 26.5, 27.8, 30.1, 40.1, 43.4
- Oil-importing countries: 48.4, 55.0, 58.4, 59.6, 59.6, 62.2, 63.1, 63.6, 63.6
- Middle-income countries: 57.4, 66.3, 69.0, 70.2, 70.2, 72.7, 72.9, 75.9, 68.1
- Low-income countries: 29.0, 34.0, 36.5, 36.5, 37.2, 39.2, 41.2, 40.9, 47.5
- Countries in fragile situations: 31.3, 36.8, 38.7, 37.7, 39.0, 40.4, 41.7, 40.8, 47.4

### Table SA27. Banking Penetration (Total banking sector assets in percent of GDP)
- Sub-Saharan Africa: 65.2, 67.8, 67.4, 68.6, 69.8, 70.8, 70.8, 73.1, 73.1, 73.4
- Median: 65.6, 69.9, 68.8, 73.5, 74.0, 75.4, 74.6, 75.0, 76.9
- Excluding Nigeria and South Africa: 63.3, 66.0, 66.0, 67.0, 67.7, 68.9, 69.8, 69.8, 72.0, 73.3
- Oil-exporting countries: 59.0, 63.4, 62.9, 57.3, 58.3, 63.2, 63.2, 63.2, 67.2, 72.3
  - Excluding Nigeria: 56.1, 60.8, 62.8, 57.4, 58.4, 58.8, 64.0, 62.9, 66.7, 71.5
- Oil-importing countries: 66.6, 68.8, 68.4, 71.5, 72.8, 72.7, 71.9, 74.9, 74.8, 73.9
- Middle-income countries: 66.6, 67.0, 68.0, 70.1, 70.2, 70.4, 71.7, 72.1, 73.8, 72.2
- Low-income countries: 63.6, 68.6, 66.6, 66.6, 67.0, 69.2, 69.6, 68.0, 72.3, 74.8

### Table SA28. Banking Sector: Loan-to-Deposit Ratio (Percent of deposits)
- Sub-Saharan Africa: 42.6, 55.8, 72.5, 79.2, 75.4, 87.3, 89.1, 85.8, 75.6, 70.8
- Selected country examples from table (percent of deposits):
  - Angola: 42.6, 55.8, 72.5, 79.2, 75.4, 87.3, 89.1, 85.8, 75.6, 70.8
  - Botswana: 55.8, 54.5, 55.4, 56.4, 57.5, 74.0, 79.1, 82.5, 76.4, 76.9
  - Côte d'Ivoire: 89.5, 85.0, 77.8, 67.1, 71.8, 76.4, 75.4, 77.3, 79.8, 82.3
  - Kenya: 76.6, 72.5, 72.6, 77.8, 76.9, 80.5, 83.0, 83.7, ...
- Aggregates and regional groupings are reported consistently across countries and years in the table.

*Italic: Source — sreo0517-app - Section 6 (tables and data as presented in the supplied content).*

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_Source: https://www.imf.org/-/media/files/publications/reo/afr/2017/may/pdf/sreo0517-app.pdf_