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---

### Overview and Coverage
- MCD countries and territories: Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, Iran, Iraq, Jordan, Kazakhstan, Kuwait, the Kyrgyz Republic, Lebanon, Libya, Mauritania, Morocco, Oman, Pakistan, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tajikistan, Tunisia, Turkmenistan, the United Arab Emirates, Uzbekistan, the West Bank and Gaza, and Yemen.
- Data coverage: 31 MCD countries. Data revisions reflect changes in methodology and/or revisions provided by country authorities.
- Calendar/fiscal year notes:
  - All data refer to calendar years, except: Afghanistan (March 21–March 20 until 2011, and December 21–December 20 thereafter), Iran (March 21–March 20), Qatar (April–March), Egypt and Pakistan (July–June) except inflation.
  - 2011 Sudan data exclude South Sudan after July 9; data for 2012 onward pertain to the current Sudan.
  - All data for Syria are excluded for 2011 onward.
- What’s new: Somalia data is included in MENAP group aggregates.
- Projection vintages: 2017 and 2018 data are projections based on statistical information available through early September 2017.

### Key Assumptions for Projections
- Oil price assumption: Simple average prices of U.K Brent, Dubai, and West Texas Intermediate crude oil assumed to average US$50  .28 a barrel in 2017 and US$50  .17 a barrel in 2018.
- U.S.-dollar six-month LIBOR assumption: 1.4 percent in 2017 and 1.9 percent in 2018.
- Projections assume established policies of national authorities will be maintained.

### Aggregation and Conventions
- Aggregation methods:
  - Domestic economy aggregates (Tables 1, 3, 7–8, and 10–17): weighted by GDP valued at purchasing power parities (PPPs) as a share of total MCD or group GDP.
  - Broad money growth aggregates (Table 9): weighted by GDP converted to U.S. dollars at market exchange rates (both GDP and exchange rates averaged over the preceding three years) as a share of MCD or group GDP.
  - External economy in nominal terms (Tables 18–20 and 22): sums of individual country data.
  - External economy in percent of GDP (Tables 21 and 23): weighted by GDP in U.S. dollars as a share of MCD or group GDP in U.S. dollars.
  - Tables 2, 4, and 5: aggregates are sums of individual country data.
- Table conventions:
  - Ellipsis points (. . .) indicate “not available.”
  - 0 or 0.0 indicates “zero” or “negligible.”
  - Minor discrepancies between sums of constituent figures and totals are due to rounding.

### Real GDP and Output (Tables 1–3)
- Table 1 — Real GDP Growth (Annual change; percent)
  - MENAP averages and projections:
    - Average 2000–13: 4.9
    - 2014: 2.8
    - 2015: 2.7
    - 2016: 5.0
    - 2017 (projection): 2.6
    - 2018 (projection): 3.5
  - MENAP oil exporters:
    - Average 2000–13: 5.1
    - 2014: 2.6
    - 2015: 2.1
    - 2016: 5.6
    - 2017: 1.7
    - 2018: 3.0
  - Selected country projections (2017, 2018):
    - Algeria: 2017 1.5, 2018 0.8
    - Iran, I.R. of: 2017 3.5, 2018 3.8
    - Iraq: 2017 -0.4, 2018 2.9
    - Libya: 2017 55.1, 2018 31.2
    - Saudi Arabia: 2017 0.1, 2018 1.1
    - Yemen: 2017 -2.0, 2018 8.5
  - MENAP oil importers:
    - Average 2000–13: 4.5
    - 2014: 3.2
    - 2015: 3.9
    - 2016: 3.6
    - 2017: 4.3
    - 2018: 4.4
  - CCA aggregates and projections:
    - CCA average 2000–13: 8.3; 2017 projection 3.6; 2018 projection 3.7
    - CCA oil and gas exporters: 2017 3.5, 2018 3.7
    - Uzbekistan: 2017 6.0, 2018 6.0
  - Memoranda highlights:
    - MENA 2017 projection: 2.2; 2018 projection: 3.2
    - GCC 2017 projection: 0.5; 2018 projection: 2.2
    - Conflict countries aggregate (Iraq, Libya, Syria, and Yemen) 2017: 8.4; 2018: 6.2
- Table 2 — Nominal GDP (Billions of U.S. dollars)
  - MENAP totals:
    - Average 2000–13: 2,051.2
    - 2014: 3,478.2
    - 2015: 3,117.3
    - 2016: 3,112.7
    - 2017 (projection): 2,699.8
    - 2018 (projection): 2,818.4
  - MENAP oil exporters:
    - 2017 projection: 2,302.4
    - 2018 projection: 2,381.1
  - Selected country nominal GDP (2017, 2018):
    - Saudi Arabia: 2017 678.5, 2018 708.5
    - United Arab Emirates: 2017 378.7, 2018 400.9
    - Iran, I.R. of: 2017 427.7, 2018 398.4
    - Egypt: 2014 305.6, 2015 332.1, 2016 332.3 (2017 onward: . . .)
    - Pakistan: 2014 144.6, 2015 244.4, 2016 270.6, 2017 278.9 (2018: . . .)
  - CCA totals:
    - CCA 2017 projection: 345.1; 2018 projection: 370.3
    - CCA oil and gas exporters 2017: 304.6; 2018: 327.6
  - Memoranda:
    - MENA 2017 projection: 2,678.8; 2018 projection: 2,795.9
    - GCC 2017 projection: 1,447.6; 2018 projection: 1,526.8
    - Conflict countries total: 2017 251.6; 2018 276.0
- Table 3 — Oil and Non-Oil GDP Growth (Annual change; percent)
  - Non-oil GDP (MENAP oil exporters):
    - Average 2000–13: 6.9
    - 2014: 3.9
    - 2015: 0.6
    - 2016: 1.1
    - 2017 projection: 2.6
    - 2018 projection: 2.5
  - Oil GDP (MENAP oil exporters):
    - Average 2000–13: 2.1
    - 2014: 1.8
    - 2015: 5.1
    - 2016: 19.4
    - 2017 projection: 1.0
    - 2018 projection: 6.5
  - Selected country highlights:
    - Iran, I.R. of non-oil GDP 2017 3.7, 2018 3.7; oil GDP 2017 2.5, 2018 3.9
    - Iraq oil GDP 2017 -1.5, 2018 3.4
    - Kuwait non-oil GDP 2017 3.5, 2018 3.5; oil GDP 2017 -6.0, 2018 4.6
    - Libya: data omitted for many series

### Oil Production and Exports (Tables 4–5)
- Table 4 — Crude Oil and Natural Gas Production (Millions of barrels per day)
  - Crude oil production (MENAP oil exporters):
    - Average 2000–13: 24.07
    - 2014: 24.73
    - 2015: 25.83
    - 2016: 28.05
    - 2017 projection: 27.52
    - 2018 projection: 28.58
  - Natural gas production (MENAP oil exporters):
    - Average 2000–13: 8.33
    - 2014: 13.46
    - 2015: 13.74
    - 2016: 14.02
    - 2017 projection: 14.71
    - 2018 projection: 15.32
  - Selected country crude oil production (2017, 2018):
    - Saudi Arabia: 2017 10.02, 2018 10.10
    - Iraq: 2017 4.57, 2018 4.72
    - United Arab Emirates: 2017 2.88, 2018 2.99
    - Libya: 2017 0.75, 2018 1.04
  - Notes: Data under revision, and subject to future updates for some countries.
- Table 5 — Crude Oil and Natural Gas Exports (Millions of barrels per day)
  - Crude oil exports (MENAP oil exporters):
    - Average 2000–13: 17.81
    - 2014: 18.01
    - 2015: 18.82
    - 2016: 20.36
    - 2017 projection: 20.06
    - 2018 projection: 20.84
  - Natural gas exports (MENAP oil exporters):
    - Average 2000–13: 92.08
    - 2014: 149.30
    - 2015: 151.73
    - 2016: 159.48
    - 2017 projection: 192.76
    - 2018 projection: 239.96
  - Selected country export highlights (2017, 2018):
    - Saudi Arabia crude exports: 2017 7.11, 2018 7.11
    - Iran, I.R. of crude exports: 2017 2.25, 2018 2.33
    - Qatar natural gas exports: 2017 2.63, 2018 2.64
  - Notes: Data under revision, and subject to future updates for some countries.

### Oil Price Breakevens (Table 6)
- Fiscal breakeven oil price (U.S. dollars per barrel) — selected entries (preserve table listings as presented):
  - Algeria 2016 106.8, 2017 100.3, 2018 63.8, 2018 (final listed) 54.9
  - Bahrain 2015 103.3, 2016 118.7, 2017 105.7, 2018 99.0, 2018 (final listed) 95.2
  - Iran, I.R. of 2014 53.7, 2015 100.0, 2016 44.1, 2017 58.4, 2018 54.7, 2018 (final listed) 57.2
  - Libya 2014 51.5, 2015 206.0, 2016 199.9, 2017 244.5, 2018 102.0, 2018 (final listed) 78.1
  - Yemen 2015 160.0, 2016 305.0, 2017 364.0, 2018 125.0
- External breakeven oil price (selected entries):
  - Algeria 2014 94.8, 2015 84.5, 2016 73.3, 2017 72.0, 2018 67.2
  - Saudi Arabia 2014 72.2, 2015 69.7, 2016 49.8, 2017 48.2, 2018 49.4
- Definitions:
  - Fiscal breakeven oil price: the oil price at which the fiscal balance is zero.
  - External breakeven oil price: the oil price at which the current account balance is zero.
- Note: Yemen is a net oil importer in 2015 and 2016.

### Prices and Inflation (Tables 7–8)
- Table 7 — Consumer Price Inflation (Year average; percent)
  - MENAP inflation:
    - Average 2000–13: 6.9
    - 2014: 7.0
    - 2015: 5.8
    - 2016: 5.7
    - 2017 projection: 7.9
    - 2018 projection: 6.9
  - MENAP oil exporters:
    - 2017 projection: 4.4
    - 2018 projection: 6.1
  - Selected country inflation (2017, 2018):
    - Iran, I.R. of: 2017 10.5, 2018 10.1
    - Egypt: 2016 29.9, 2017 13.0
    - Sudan: 2016 17.8, 2017 26.9, 2018 19.0
    - Yemen: 2016 5.0, 2017 20.0, 2018 29.5
  - Memoranda:
    - MENA 2017 projection: 8.4, 2018 projection: 7.1
    - GCC 2017 projection: 0.8, 2018 projection: 4.2
    - MENAP oil exporters, excluding conflict countries 2017: 4.2, 2018: 6.0
- Table 8 — Core Consumer Price Inflation (Year average; percent)
  - MENAP core inflation (selected entries):
    - MENAP (aggregate): 2014 8.4, 2015 6.2, 2016 6.1, 2017 3.2
    - MENAP oil exporters: 2014 8.8, 2015 6.5, 2016 5.0, 2017 4.5, 2018 4.2
    - Iran, I.R. of core: 2014 19.7, 2015 12.8, 2016 9.3, 2017 9.4, 2018 4.5
    - Saudi Arabia core: 2014 2.0, 2015 1.8, 2016 3.4, 2017 0.4, 2018 3.8
    - Yemen core: 2014 7.5, 2015 34.3, 2016 7.0, 2017 19.0, 2018 27.5
  - CCA core inflation:
    - CCA 2014 4.7, 2015 4.2, 2016 4.4, 2017 4.2, 2018 3.9
    - CCA oil and gas exporters 2017 4.0, 2018 4.2
  - Notes:
    - Core inflation uses country-specific definitions of core in its calculation.
    - Several country entries are omitted (. . .) where data are not available.

### Monetary Aggregates (Section 2, Table 9)
- Broad Money Growth (Annual change; percent)
  - MENAP: 16.7 (Average 2000–13); 11.6 (2014); 8.0 (2015); 7.9 (2016); 11.8 (2017); 9.9 (2018 projections)
  - MENAP oil exporters: 18.1; 11.2; 6.4; 5.5; 7.7; 7.8
  - MENAP oil importers: 13.3; 12.6; 12.5; 14.5; 22.1; 14.9
  - CCA: 32.7; 11.3; 23.6; 14.1; 8.4; 12.7
  - Memorandum:
    - MENA: 16.9; 11.5; 7.6; 7.5; 11.7; 9.7
    - GCC: 14.5; 9.9; 3.6; 1.1; 3.7; 4.7
    - Conflict countries: ...; 3.1; -7.2; 8.1; 6.2; 8.9
  - Notes in source:
    - Broad money is defined to include nonresident deposits (M5).
    - Broad money includes currency, demand deposits, quasi money, and long-term deposits.
    - Due to data volatility aggregate excludes Libya and Yemen.
    - West Bank and Gaza is not a member of the IMF and is not included in any of the aggregates.

### Fiscal Aggregates (Tables 10–17)
- Table 10 — Central Government Net Lending/Borrowing (Percent of GDP)
  - MENAP: 1.7 (Average 2000–13); -3.1 (2014); -8.0 (2015); -9.0 (2016); -5.4 (2017); -4.5 (2018)
  - MENAP oil exporters: 5.1; -0.8; -8.3; -9.7; -4.7; -3.9
  - MENAP oil importers: -5.8; -7.9; -7.4; -7.5; -6.7; -5.8
  - CCA: ...; 2.3; -5.7; -3.4; -4.8; -1.4
  - Memorandum:
    - MENA: 2.6; -2.9; -8.4; -9.6; -5.6; -4.6
    - GCC: 8.3; 1.4; -9.1; -11.6; -6.1; -5.0
    - Conflict countries: ...; -5.2; -12.1; -14.1; -5.6; -4.9
  - Source notes include various country-specific definitions (central government, extra-budgetary funds, etc.).
- Table 11 — General Government Fiscal Balance (Percent of GDP)
  - MENAP: 2.4 (Average 2000–13); -3.1 (2014); -8.6 (2015); -9.3 (2016); -5.7 (2017); -4.6 (2018)
  - MENAP oil exporters: 6.2; -1.1; -9.3; -10.6; -5.2; -4.1
  - MENAP oil importers: -5.5; -7.3; -7.3; -6.8; -6.6; -5.6
  - CCA: 3.1; 2.3; -3.5; -2.2; -3.4; -1.0
  - Memorandum:
    - MENA: 3.2; -2.9; -9.1; -10.0; -5.7; -4.5
    - GCC: 10.0; 2.1; -9.2; -11.9; -6.3; -5.0
    - Conflict countries: 1.7; -9.6; -18.8; -18.7; -8.5; -6.7
  - Source notes reference consolidation and accounting differences across countries.
- Table 12 — General Government Total Revenue, Excluding Grants (Percent of GDP)
  - MENAP: 30.9 (Average 2000–13); 28.4 (2014); 24.6 (2015); 22.8 (2016); 24.5 (2017); 25.2 (2018)
  - MENAP oil exporters: 36.1; 33.2; 27.6; 24.8; 27.3; 28.0
  - MENAP oil importers: 20.0; 18.3; 18.4; 18.6; 19.0; 19.5
  - CCA: ...; 28.1; 23.9; 23.8; 24.4; 24.5
  - Memorandum:
    - MENA: 33.0; 30.2; 26.0; 23.8; 25.8; 26.4
    - GCC: 41.1; 40.7; 31.5; 27.3; 28.8; 30.3
    - Conflict countries: 43.2; 37.6; 29.4; 25.9; 34.2; 35.1
- Table 13 — Oil Exporters: General Government Non-Oil Fiscal Balance (Percent of non-oil GDP)
  - MENAP oil exporters: -36.4 (Average 2000–13); -42.6 (2014); -35.4 (2015); -30.1 (2016); -28.0 (2017); -25.5 (2018)
  - GCC: -44.7; -57.4; -45.1; -37.2; -33.5; -30.6
  - Non-GCC oil exporters: -26.7; -25.1; -23.5; -22.0; -21.8; -19.8
  - CCA oil and gas exporters: -11.2; -16.9; -18.3; -13.9; -17.6; -12.9
  - MENAP oil exporters, excluding conflict countries: -34.6; -41.6; -34.5; -28.5; -25.6; -23.3
- Table 14 — Oil Exporters: General Government Non-Oil Revenue (Percent of non-oil GDP)
  - MENAP oil exporters: 12.1 (Average 2000–13); 12.4 (2014); 12.8 (2015); 14.7 (2016); 14.4 (2017); 15.9 (2018)
  - GCC: 13.2; 13.8; 13.9; 15.9; 15.1; 17.8
  - Non-GCC oil exporters: 10.9; 10.7; 11.6; 13.4; 13.6; 13.9
  - CCA oil and gas exporters: 22.3; 16.2; 12.6; 15.8; 15.1; 15.3
  - MENAP oil exporters, excluding conflict countries: 12.5; 13.3; 13.9; 15.8; 15.4; 17.0
- Table 15 — General Government Total Expenditure and Net Lending (Percent of GDP)
  - MENAP: 29.1 (Average 2000–13); 32.3 (2014); 33.1 (2015); 31.8 (2016); 30.0 (2017); 29.6 (2018)
  - MENAP oil exporters: 30.6; 34.1; 36.3; 34.4; 31.9; 31.5
  - MENAP oil importers: 26.2; 28.4; 26.7; 26.2; 26.3; 25.8
  - CCA: 25.5; 26.2; 27.7; 26.4; 28.3; 25.9
  - Memorandum:
    - MENA: 30.4; 33.8; 34.8; 33.3; 31.2; 30.6
    - GCC: 31.1; 38.6; 40.4; 38.7; 34.9; 35.1
    - Conflict countries: 43.0; 47.6; 48.3; 44.7; 42.8; 41.9
- Table 16 — Total Government Gross Debt (Percent of GDP)
  - MENAP: 44.1 (Average 2000–13); 32.5 (2014); 41.8 (2015); 47.2 (2016); 48.2 (2017); 47.6 (2018)
  - MENAP oil exporters: 29.4; 13.0; 25.6; 31.5; 32.1; 33.4
  - MENAP oil importers: 76.5; 73.8; 75.3; 80.2; 81.2; 76.4
  - CCA: ...; 16.2; 24.5; 27.4; 25.6; 25.5
  - Memorandum:
    - MENA: 41.5; 29.0; 39.5; 45.0; 46.1; 45.3
    - GCC: 29.0; 9.0; 13.5; 22.0; 25.5; 28.6
    - Arab World: 49.5; 32.9; 38.9; 47.5; 49.4; 48.8
  - Notes include country-specific debt coverage (central government, banking system claims, public enterprises).
- Table 17 — Total Government Net Debt (Percent of GDP)
  - MENAP: 24.2 (Average 2000–13); 9.1 (2014); 21.3 (2015); 31.0 (2016); 35.7 (2017); 36.0 (2018)
  - MENAP oil exporters: 1.6; -27.7; -9.7; 2.9; 8.1; 11.1
  - MENAP oil importers: ...; 70.2; 71.3; 76.9; 79.6; 75.0
  - Memorandum:
    - MENA: 18.8; 1.0; 15.0; 25.8; 31.1; 31.3
    - GCC: 8.8; -46.8; -36.5; -18.0; -7.9; 0.1
    - Non-GCC oil exporters: -4.1; -11.2; 14.8; 20.8; 21.3; 19.9

### External Accounts and Reserves (Tables 18–24)
- Table 18 — Exports of Goods and Services (Billions of U.S. dollars)
  - MENAP: 880.9 (Average 2000–13); 1,542.7 (2014); 1,143.8 (2015); 1,076.6 (2016); 1,172.7 (2017); 1,229.1 (2018 projections)
  - MENAP oil exporters: 746.6; 1,364.3; 974.6; 919.9; 1,005.4; 1,049.3
  - Selected country exports (average and recent years):
    - Algeria: 50.3; 63.5; 38.0; 32.6; 38.2; 38.8
    - Bahrain: 18.8; 32.1; 25.7; 23.8; 27.3; 28.5
    - Iran, I.R. of: 79.6; 99.9; 74.9; 94.4; 107.1; 111.0
    - Kuwait: 64.7; 110.7; 60.5; 52.1; 56.6; 59.4
  - Source table continues for additional countries (not all rows shown in provided extract).
- Table 19 — Imports of Goods and Services (Billions of U.S. dollars)
  - MENAP: -685.1 (Average 2000–13); -1,304.0 (2014); -1,208.4 (2015); -1,162.5 (2016); -1,197.4 (2017); -1,242.9 (2018)
  - MENAP oil exporters: -503.1; -1,016.4; -935.9; -895.8; -919.5; -954.7
  - Selected country examples:
    - Saudi Arabia: -126.8; -259.0; -247.3; -199.5; -189.3; -195.3
    - United Arab Emirates: -147.9; -318.4; -304.8; -309.1; -322.8; -338.6
    - Egypt: -45.6; -76.5; -78.2; -71.8; -71.4; -72.1
    - Pakistan: -30.4; -49.6; -50.1; -50.1; -57.7; -62.1
  - CCA: -69.6; -139.3; -114.0; -104.7; -113.1; -117.2
  - Memorandum aggregates:
    - MENA: -650.7; -1,245.9; -1,149.7; -1,104.9; -1,131.7; -1,172.2
    - GCC: -360.8; -757.4; -722.9; -678.9; -685.9; -718.9
    - Arab World: -588.4; -1,157.3; -1,082.5; -1,025.4; -1,045.7; -1,082.8
  - Notes: 1 Excludes re-exports of goods and services. 2 Due to data volatility aggregate excludes Libya and Yemen. 3 West Bank and Gaza is not a member of the IMF and is not included in any of the aggregates.
- Table 20 — Current Account Balance (Billions of U.S. dollars)
  - MENAP: 195.9 (Average 2000–13); 190.1 (2014); -116.5 (2015); -128.2 (2016); -34.0 (2017); -29.0 (2018)
  - MENAP oil exporters: 212.4; 227.8; -75.2; -76.5; -9.9; -5.5
  - Selected country examples:
    - Saudi Arabia: 76.9; 73.8; -56.7; -27.5; 4.3; 2.8
    - United Arab Emirates: 26.0; 53.6; 16.7; 8.4; 7.9; 8.5
    - Algeria: 14.4; -9.4; -27.3; -26.3; -22.9; -19.4
    - Egypt: -2.2; -2.4; -12.0; -19.8; ...... (data missing for later years)
  - CCA: 5.3; 10.3; -13.4; -20.0; -16.8; -15.4
  - Memorandum aggregates:
    - MENA: 196.3; 192.1; -114.4; -124.7; -35.0; -29.4
    - GCC: 164.7; 237.3; -33.9; -45.6; 3.5; 0.0
    - Arab World: 178.2; 178.5; -123.4; -141.1; -56.6; -52.8
  - Notes: 1 Due to data volatility aggregate excludes Libya and Yemen. ² West Bank and Gaza is not a member of the IMF and is not included in any of the aggregates.
- Table 21 — Current Account Balance (Percent of GDP)
  - MENAP: 8.9 (Average 2000–13); 5.5 (2014); -3.7 (2015); -4.1 (2016); -1.9 (2017); -1.6 (2018)
  - MENAP oil exporters: 12.9; 8.8; -3.5; -3.6; -0.4; -0.2
  - Selected country examples:
    - Saudi Arabia: 16.8; 9.8; -8.7; -4.3; 0.6; 0.4
    - United Arab Emirates: 10.3; 13.3; 4.7; 2.4; 2.1; 2.1
    - Algeria: 12.5; -4.4; -16.5; -16.5; -13.0; -10.8
    - Egypt: -0.5; -0.8; -3.6; -6.0; -5.9; -3.8
  - CCA: 0.8; 2.3; -3.6; -6.4; -4.9; -4.2
  - Memorandum aggregates:
    - MENA: 9.6; 6.0; -4.0; -4.4; -1.7; -1.3
    - GCC: 16.6; 14.4; -2.4; -3.4; 0.2; 0.0
    - Arab World: 10.6; 6.4; -5.0; -5.9; -2.8; -2.3
- Table 22 — Gross Official Reserves (Billions of U.S. dollars)
  - MENAP: 712.9 (Average 2000–13); 1,465.3 (2014); 1,307.8 (2015); 1,165.9 (2016); 1,108.5 (2017); 1,072.6 (2018)
  - MENAP oil exporters: 630.0; 1,348.5; 1,182.1; 1,031.5; 962.1; 930.2
  - Selected country examples:
    - Saudi Arabia: 297.5; 726.8; 611.9; 533.6; 485.2; 457.7
    - United Arab Emirates: 32.6; 78.5; 94.0; 85.4; 78.5; 74.5
    - Iran, I.R. of: 60.4; 110.8; 115.7; 104.2; 124.8; 148.4
    - Egypt: 21.6; 16.3; 19.5; 17.1; 30.7; 30.2
  - CCA: 33.0; 73.7; 63.5; 67.4; 74.7; 81.0
  - Memorandum aggregates:
    - MENA: 701.8; 1,448.9; 1,287.5; 1,140.4; 1,084.8; 1,054.1
    - GCC: 370.8; 903.1; 792.4; 704.9; 648.9; 620.3
    - Arab World: 641.4; 1,338.1; 1,171.7; 1,036.2; 960.0; 905.7
  - Notes: Footnotes specify Saudi Arabia Monetary Agency gross foreign assets; central bank only for some countries; exclusions of gold and encumbered assets; and aggregate exclusions for Libya and Yemen. West Bank and Gaza not included in aggregates.
- Table 23 — Total Gross External Debt (Percent of GDP)
  - MENAP: 31.5 (Average 2000–13); 28.5 (2014); 34.2 (2015); 38.8 (2016); 40.5 (2017); 41.5 (2018)
  - MENAP oil exporters: 26.0; 25.4; 33.2; 39.0; 38.8; 40.7
  - Selected country examples:
    - Bahrain: 106.0; 154.1; 174.4; 184.6; 193.2; 203.5
    - Qatar: 66.0; 80.7; 110.6; 147.8; 136.6; 130.9
    - Lebanon: 159.1; 175.0; 175.8; 183.9; 185.6; 184.0
    - Jordan: ...; 64.0; 65.8; 66.9; 68.4; 70.3
  - CCA: 54.6; 46.6; 57.1; 75.2; 71.8; 69.9
  - Memorandum aggregates:
    - MENA: 31.1; 28.8; 35.4; 40.3; 42.2; 43.1
    - GCC: 28.0; 35.0; 45.2; 54.6; 54.6; 55.5
    - Arab World: 37.0; 33.0; 40.4; 46.8; 49.2; 49.4
  - Notes: Footnotes on conversion, exclusions, data limitations, and aggregates (Libya and Yemen excluded due to volatility). West Bank and Gaza not included in aggregates.
- Table 24 — Gross Official Reserves (Months of Imports)
  - MENAP: 9.5 (Average 2000–13); 13.7 (2014); 12.8 (2015); 11.1 (2016); 10.2 (2017); 9.7 (2018)
  - MENAP oil exporters: 10.9; 16.2; 14.8; 12.6; 11.4; 10.9
  - Selected country examples:
    - Algeria: 26.5; 33.4; 28.4; 22.3; 19.3; 16.3
    - Saudi Arabia: 21.1; 35.3; 36.8; 33.8; 29.8; 27.8
    - Iran, I.R. of: 11.2; 19.8; 17.5; 14.5; 16.8; 19.1
    - Egypt: 5.9; 2.5; 3.3; 2.9; 5.1; 4.7
  - CCA: 4.7; 9.0; 8.5; 8.2; 8.8; 9.2
  - Memorandum aggregates:
    - MENA: 9.8; 14.3; 13.2; 11.5; 10.6; 10.1
    - GCC: 9.6; 15.0; 14.0; 12.3; 10.8; 10.1
    - Arab World: 9.7; 13.9; 12.9; 11.2; 10.1; 9.3
  - Notes: Calculated as reserves in months of next year's imports. Footnotes clarify reporting (Saudi Arabia Monetary Agency assets; central bank only; reserves net of re-exports for specified years; exclusions). West Bank and Gaza not included in aggregates.

### Financial Sector Indicators (Tables 25–26)
- Table 25 — Capital Adequacy Ratios (Percent of risk-weighted assets) — selected series
  - Bahrain: 1.8 (Dec-13); 1.5 (Dec-14); 0.8 (Jun-15); 1.2 (Sep-15); 1.4 (Dec-15); 0.4 (Mar-16); 0.7 (Jun-16); 1.1 (Sep-16)
  - Kuwait: 1.0; 1.1; 1.1; 1.1; 1.1; 1.1; 1.0; 1.0; 1.1
  - Saudi Arabia: 2.0; 2.0; 2.1; 2.0; 2.0; 2.1; 2.1; 2.1; 2.0; 1.8; 2.0; 2.0
  - Egypt (after tax): 1.0; 1.3; 1.3; 1.3; 1.3; 1.5; 1.5; 1.5
  - Pakistan: 1.6; 2.2; 2.7; 2.6; 2.5; 2.3; 2.2; 2.1; 2.1; 1.9
  - CCA examples:
    - Armenia: 1.9; 1.0; -0.3; -0.3; -0.5; 0.2; 0.5
    - Georgia (cumulative and annualized): 2.6; 2.6; 2.1; 2.2; 2.3; 1.5; 2.4; 2.5; 2.8; 3.5
  - Memorandum:
    - West Bank and Gaza series: 1.9; 1.7; 1.6; 1.6; 1.5; 1.7; 1.6; 1.5; 1.5; 1.4; 1.6
  - Notes: Source: National authorities. Footnotes clarify coverage (conventional retail banks only for some series; national banks only; after tax; cumulative and annualized). West Bank and Gaza not included in aggregates.
- Table 26 — Return on Assets (Pre-tax, percent) — selected series
  - Algeria: 10.6 (Dec-13); 9.2 (Dec-14)
  - Bahrain: 4.1; 3.7; 3.5; 3.6; 3.9; 3.6; 4.8; 4.7 (series across Dec-13 to Jun-16)
  - Kuwait: 3.6; 2.9; 2.8; 3.0; 2.4; 2.4; 2.4; 2.3; 2.2
  - Oman: 2.0; 1.9; 1.8; 1.7; 1.8; ...; 1.6; ...; 1.8 (Dec-13 to Jun-16)
  - Notes: Source: National authorities. Footnotes specify coverage and reporting nuances for individual country series where applicable.

### Nonperforming Loans (Table 27)
- Nonperforming Loans (90-day basis, percent of total loans)
  - Oil exporters (selected series as presented):
    - Qatar: 1.9 1.7 1.4 ... 1.6 ......... 1.3 ......  
    - Saudi Arabia: 1.3 1.1 1.2 1.2 1.2 1.2 1.3 1.4 1.4 1.4  
    - United Arab Emirates: 3 6.7 5.6 5.0 5.1 5.2 ..................  
    - Yemen: 4 21.7 ..............................  
  - Oil importers (selected series as presented):
    - Afghanistan, Rep. of: 4.9 7.8 13.5 13.7 12.1 15.2 16.9 13.1 11.1 ......  
    - Djibouti: 14.5 18.0 22.5 22.3 22.1 ..................  
    - Egypt: 5 9.3 8.5 7.6 7.2 6.8 6.7 5.9 5.9 .........  
    - Jordan: 7.0 5.6 5.5 5.4 5.0 4.7 4.8 4.6 4.4 ......  
    - Lebanon: 4.0 4.0 4.0 ... 4.2 4.4 4.5 4.7 4.9 ......  
    - Mauritania: 20.4 23.0 23.9 25.0 30.0 ......... 21.5 ......  
    - Morocco: 5.8 6.8 7.1 7.4 7.3 7.6 7.5 7.7 7.5 7.6 ...  
    - Pakistan: 13.3 12.3 12.4 12.5 11.4 11.7 11.1 11.3 10.1 9.9 ...  
    - Somalia:  
    - Sudan: 8.4 7.1 6.2 6.2 5.1 5.1 6.0 6.2 5.2 0.0 0.0  
    - Syrian Arab Republic: .................................  
    - Tunisia: 16.5 15.7 15.6 ........................  
  - CCA (selected series as presented):
    - Armenia: 6 4.5 6.8 9.0 8.4 7.8 10.0 9.2 ............  
    - Azerbaijan: 7 4.5 4.4 4.6 4.9 .....................  
    - Georgia: 3.1 3.1 3.4 3.0 2.7 3.3 3.7 3.9 3.5 3.7 ...  
    - Kazakhstan: 31.3 23.5 10.0 9.2 8.0 8.4 7.9 7.9 6.7 7.7 ...  
    - Kyrgyz Republic: 5.5 4.5 5.2 6.0 7.1 8.5 9.0 9.0 8.8 ......  
    - Tajikistan: 8 16.0 25.1 22.4 22.7 29.9 47.5 56.7 58.9 54.0 50.8 ...  
    - Turkmenistan: 0.1 0.1 ...... 0.2 ......... 0.3 ......  
    - Uzbekistan: 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 ......  
  - Memorandum:
    - West Bank and Gaza: 9 2.9 2.5 2.5 2.5 2.3 2.0 2.0 2.3 2.2 2.2 2.4
  - Notes:
    - Source: National authorities.
    - 1 Conventional retail banks only; excludes Islamic Wholesale and Retail banks along with Conventional Wholesale banks.
    - 2 December data refer to March data of the following year.
    - 3 National banks only.
    - 4 Data refer to all banks except the Housing Bank and CAC Bank.
    - 5 Data refer to end of fiscal year.
    - 6 Defined as loans overdue between at least 1 and 270 days.
    - 7 Only the overdue portion of principal and interest is disclosed as NPL.
    - 8 Overdue by 30 days or more.
    - 9 West Bank and Gaza is not a member of the IMF and is not included in any of the aggregates.

*Source: National authorities; and IMF staff estimates and projections as presented in the Statistical Appendix (Tables 1–27).*

### Section 1

### Statistical Appendix — Section 1

### Overview and Coverage
- MCD countries and territories: Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, Iran, Iraq, Jordan, Kazakhstan, Kuwait, the Kyrgyz Republic, Lebanon, Libya, Mauritania, Morocco, Oman, Pakistan, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tajikistan, Tunisia, Turkmenistan, the United Arab Emirates, Uzbekistan, the West Bank and Gaza, and Yemen.
- Data coverage: 31 MCD countries. Data revisions reflect changes in methodology and/or revisions provided by country authorities.
- Calendar/fiscal year notes:
  - All data refer to calendar years, except: Afghanistan (March 21–March 20 until 2011, and December 21–December 20 thereafter), Iran (March 21–March 20), Qatar (April–March), Egypt and Pakistan (July–June) except inflation.
  - 2011 Sudan data exclude South Sudan after July 9; data for 2012 onward pertain to the current Sudan.
  - All data for Syria are excluded for 2011 onward.
- What’s new: Somalia data is included in MENAP group aggregates.
- Projection vintages: 2017 and 2018 data are projections based on statistical information available through early September 2017.

### Key Assumptions for Projections
- Oil price assumption: Simple average prices of U.K Brent, Dubai, and West Texas Intermediate crude oil assumed to average US$50  .28 a barrel in 2017 and US$50  .17 a barrel in 2018.
- U.S.-dollar six-month LIBOR assumption: 1.4 percent in 2017 and 1.9 percent in 2018.
- Projections assume established policies of national authorities will be maintained.

### Aggregation and Conventions
- Aggregation methods:
  - Domestic economy aggregates (Tables 1, 3, 7–8, and 10–17): weighted by GDP valued at purchasing power parities (PPPs) as a share of total MCD or group GDP.
  - Broad money growth aggregates (Table 9): weighted by GDP converted to U.S. dollars at market exchange rates (both GDP and exchange rates averaged over the preceding three years) as a share of MCD or group GDP.
  - External economy in nominal terms (Tables 18–20 and 22): sums of individual country data.
  - External economy in percent of GDP (Tables 21 and 23): weighted by GDP in U.S. dollars as a share of MCD or group GDP in U.S. dollars.
  - Tables 2, 4, and 5: aggregates are sums of individual country data.
- Table conventions:
  - Ellipsis points (. . .) indicate “not available.”
  - 0 or 0.0 indicates “zero” or “negligible.”
  - Minor discrepancies between sums of constituent figures and totals are due to rounding.

### Table 1 — Real GDP Growth (Annual change; percent)
- MENAP averages and projections:
  - Average 2000–13: 4.9
  - 2014: 2.8
  - 2015: 2.7
  - 2016: 5.0
  - 2017 (projection): 2.6
  - 2018 (projection): 3.5
- MENAP oil exporters:
  - Average 2000–13: 5.1
  - 2014: 2.6
  - 2015: 2.1
  - 2016: 5.6
  - 2017: 1.7
  - 2018: 3.0
- Selected country projections (2017, 2018):
  - Algeria: 2017 1.5, 2018 0.8
  - Iran, I.R. of: 2017 3.5, 2018 3.8
  - Iraq: 2017 -0.4, 2018 2.9
  - Libya: 2017 55.1, 2018 31.2
  - Saudi Arabia: 2017 0.1, 2018 1.1
  - Yemen: 2017 -2.0, 2018 8.5
- MENAP oil importers:
  - Average 2000–13: 4.5
  - 2014: 3.2
  - 2015: 3.9
  - 2016: 3.6
  - 2017: 4.3
  - 2018: 4.4
- CCA (Central Asia) aggregates and projections:
  - CCA average 2000–13: 8.3; 2017 projection 3.6; 2018 projection 3.7
  - CCA oil and gas exporters: 2017 3.5, 2018 3.7
  - Uzbekistan: 2017 6.0, 2018 6.0
- Memoranda highlights:
  - MENA 2017 projection: 2.2; 2018 projection: 3.2
  - GCC 2017 projection: 0.5; 2018 projection: 2.2
  - Conflict countries aggregate (Iraq, Libya, Syria, and Yemen) 2017: 8.4; 2018: 6.2

### Table 2 — Nominal GDP (Billions of U.S. dollars)
- MENAP totals:
  - Average 2000–13: 2,051.2
  - 2014: 3,478.2
  - 2015: 3,117.3
  - 2016: 3,112.7
  - 2017 (projection): 2,699.8
  - 2018 (projection): 2,818.4
- MENAP oil exporters:
  - 2017 projection: 2,302.4
  - 2018 projection: 2,381.1
- Selected country nominal GDP (2017, 2018):
  - Saudi Arabia: 2017 678.5, 2018 708.5
  - United Arab Emirates: 2017 378.7, 2018 400.9
  - Iran, I.R. of: 2017 427.7, 2018 398.4
  - Egypt: 2014 305.6, 2015 332.1, 2016 332.3 (2017 onward: . . .)
  - Pakistan: 2014 144.6, 2015 244.4, 2016 270.6, 2017 278.9 (2018: . . .)
- CCA totals:
  - CCA 2017 projection: 345.1; 2018 projection: 370.3
  - CCA oil and gas exporters 2017: 304.6; 2018: 327.6
- Memoranda:
  - MENA 2017 projection: 2,678.8; 2018 projection: 2,795.9
  - GCC 2017 projection: 1,447.6; 2018 projection: 1,526.8
  - Conflict countries total: 2017 251.6; 2018 276.0

### Table 3 — Oil Exporters: Oil and Non-Oil Real GDP Growth (Annual change; percent)
- Non-oil GDP (MENAP oil exporters):
  - Average 2000–13: 6.9
  - 2014: 3.9
  - 2015: 0.6
  - 2016: 1.1
  - 2017 projection: 2.6
  - 2018 projection: 2.5
- Oil GDP (MENAP oil exporters):
  - Average 2000–13: 2.1
  - 2014: 1.8
  - 2015: 5.1
  - 2016: 19.4
  - 2017 projection: 1.0
  - 2018 projection: 6.5
- Selected country highlights:
  - Iran, I.R. of non-oil GDP 2017 3.7, 2018 3.7; oil GDP 2017 2.5, 2018 3.9
  - Iraq oil GDP 2017 -1.5, 2018 3.4
  - Kuwait non-oil GDP 2017 3.5, 2018 3.5; oil GDP 2017 -6.0, 2018 4.6
  - Libya: data omitted for many series

### Table 4 — Crude Oil and Natural Gas Production (Millions of barrels per day)
- Crude oil production (MENAP oil exporters):
  - Average 2000–13: 24.07
  - 2014: 24.73
  - 2015: 25.83
  - 2016: 28.05
  - 2017 projection: 27.52
  - 2018 projection: 28.58
- Natural gas production (MENAP oil exporters):
  - Average 2000–13: 8.33
  - 2014: 13.46
  - 2015: 13.74
  - 2016: 14.02
  - 2017 projection: 14.71
  - 2018 projection: 15.32
- Selected country figures (crude oil production, 2017, 2018):
  - Saudi Arabia: 2017 10.02, 2018 10.10
  - Iraq: 2017 4.57, 2018 4.72
  - United Arab Emirates: 2017 2.88, 2018 2.99
  - Libya: 2017 0.75, 2018 1.04
- Notes: Data under revision, and subject to future updates for some countries.

### Table 5 — Crude Oil and Natural Gas Exports (Millions of barrels per day)
- Crude oil exports (MENAP oil exporters):
  - Average 2000–13: 17.81
  - 2014: 18.01
  - 2015: 18.82
  - 2016: 20.36
  - 2017 projection: 20.06
  - 2018 projection: 20.84
- Natural gas exports (MENAP oil exporters):
  - Average 2000–13: 92.08
  - 2014: 149.30
  - 2015: 151.73
  - 2016: 159.48
  - 2017 projection: 192.76
  - 2018 projection: 239.96
- Selected country export highlights (2017, 2018):
  - Saudi Arabia crude exports: 2017 7.11, 2018 7.11
  - Iran, I.R. of crude exports: 2017 2.25, 2018 2.33
  - Qatar natural gas exports: 2017 2.63, 2018 2.64
- Notes: Data under revision, and subject to future updates for some countries.

### Table 6 — Breakeven Oil Prices (U.S. dollars per barrel)
- Fiscal breakeven oil price (selected, 2016–2018):
  - Algeria 2016 106.8, 2017 100.3, 2018 63.8, 2018 (final listed) 54.9 (note: table columns reflect multiple years; preserve entries as presented)
  - Bahrain 2015 103.3, 2016 118.7, 2017 105.7, 2018 99.0, 2018 (final listed) 95.2
  - Iran, I.R. of 2014 53.7, 2015 100.0, 2016 44.1, 2017 58.4, 2018 54.7, 2018 (final listed) 57.2
  - Libya 2014 51.5, 2015 206.0, 2016 199.9, 2017 244.5, 2018 102.0, 2018 (final listed) 78.1
  - Yemen 2015 160.0, 2016 305.0, 2017 364.0, 2018 125.0
- External breakeven oil price (selected entries):
  - Algeria 2014 94.8, 2015 84.5, 2016 73.3, 2017 72.0, 2018 67.2
  - Saudi Arabia 2014 72.2, 2015 69.7, 2016 49.8, 2017 48.2, 2018 49.4
- Definitions:
  - Fiscal breakeven oil price: the oil price at which the fiscal balance is zero.
  - External breakeven oil price: the oil price at which the current account balance is zero.
- Note: Yemen is a net oil importer in 2015 and 2016.

### Table 7 — Consumer Price Inflation (Year average; percent)
- MENAP inflation:
  - Average 2000–13: 6.9
  - 2014: 7.0
  - 2015: 5.8
  - 2016: 5.7
  - 2017 projection: 7.9
  - 2018 projection: 6.9
- MENAP oil exporters:
  - 2017 projection: 4.4
  - 2018 projection: 6.1
- Selected country inflation (2017, 2018):
  - Iran, I.R. of: 2017 10.5, 2018 10.1
  - Egypt: 2016 29.9, 2017 13.0
  - Sudan: 2016 17.8, 2017 26.9, 2018 19.0
  - Yemen: 2016 5.0, 2017 20.0, 2018 29.5
- Memoranda:
  - MENA 2017 projection: 8.4, 2018 projection: 7.1
  - GCC 2017 projection: 0.8, 2018 projection: 4.2
  - MENAP oil exporters, excluding conflict countries 2017: 4.2, 2018: 6.0

### Table 8 — Core Consumer Price Inflation (Year average; percent)
- MENAP core inflation (selected entries):
  - MENAP (aggregate): 2014 8.4, 2015 6.2, 2016 6.1, 2017 3.2
  - MENAP oil exporters: 2014 8.8, 2015 6.5, 2016 5.0, 2017 4.5, 2018 4.2
  - Iran, I.R. of core: 2014 19.7, 2015 12.8, 2016 9.3, 2017 9.4, 2018 4.5
  - Saudi Arabia core: 2014 2.0, 2015 1.8, 2016 3.4, 2017 0.4, 2018 3.8
  - Yemen core: 2014 7.5, 2015 34.3, 2016 7.0, 2017 19.0, 2018 27.5
- CCA core inflation:
  - CCA 2014 4.7, 2015 4.2, 2016 4.4, 2017 4.2, 2018 3.9
  - CCA oil and gas exporters 2017 4.0, 2018 4.2
- Notes:
  - Core inflation uses country-specific definitions of core in its calculation.
  - Several country entries are omitted (. . .) where data are not available.

*Source: IMF staff estimates and projections as presented in the Statistical Appendix (Tables 1–8).*

### Section 2

### reo-stat-appendix-tables-with-front-matter - Section 2

### Broad Money Growth (Annual change; percent)
- MENAP: 16.7 (Average 2000–13); 11.6 (2014); 8.0 (2015); 7.9 (2016); 11.8 (2017); 9.9 (2018 projections)
- MENAP oil exporters: 18.1; 11.2; 6.4; 5.5; 7.7; 7.8
- MENAP oil importers: 13.3; 12.6; 12.5; 14.5; 22.1; 14.9
- CCA: 32.7; 11.3; 23.6; 14.1; 8.4; 12.7
- Memorandum:
  - MENA: 16.9; 11.5; 7.6; 7.5; 11.7; 9.7
  - GCC: 14.5; 9.9; 3.6; 1.1; 3.7; 4.7
  - Conflict countries: ...; 3.1; -7.2; 8.1; 6.2; 8.9
- Notes in source:
  - Broad money is defined to include nonresident deposits (M5).
  - Broad money includes currency, demand deposits, quasi money, and long-term deposits.
  - Due to data volatility aggregate excludes Libya and Yemen.
  - West Bank and Gaza is not a member of the IMF and is not included in any of the aggregates.

### Table 10. Central Government Net Lending/Borrowing (Percent of GDP)
- MENAP: 1.7 (Average 2000–13); -3.1 (2014); -8.0 (2015); -9.0 (2016); -5.4 (2017); -4.5 (2018)
- MENAP oil exporters: 5.1; -0.8; -8.3; -9.7; -4.7; -3.9
- MENAP oil importers: -5.8; -7.9; -7.4; -7.5; -6.7; -5.8
- CCA: ...; 2.3; -5.7; -3.4; -4.8; -1.4
- Memorandum:
  - MENA: 2.6; -2.9; -8.4; -9.6; -5.6; -4.6
  - GCC: 8.3; 1.4; -9.1; -11.6; -6.1; -5.0
  - Conflict countries: ...; -5.2; -12.1; -14.1; -5.6; -4.9
- Source notes include various country-specific definitions (central government, extra-budgetary funds, etc.).

### Table 11. General Government Fiscal Balance (Percent of GDP)
- MENAP: 2.4 (Average 2000–13); -3.1 (2014); -8.6 (2015); -9.3 (2016); -5.7 (2017); -4.6 (2018)
- MENAP oil exporters: 6.2; -1.1; -9.3; -10.6; -5.2; -4.1
- MENAP oil importers: -5.5; -7.3; -7.3; -6.8; -6.6; -5.6
- CCA: 3.1; 2.3; -3.5; -2.2; -3.4; -1.0
- Memorandum:
  - MENA: 3.2; -2.9; -9.1; -10.0; -5.7; -4.5
  - GCC: 10.0; 2.1; -9.2; -11.9; -6.3; -5.0
  - Conflict countries: 1.7; -9.6; -18.8; -18.7; -8.5; -6.7
- Source notes reference consolidation and accounting differences across countries.

### Table 12. General Government Total Revenue, Excluding Grants (Percent of GDP)
- MENAP: 30.9 (Average 2000–13); 28.4 (2014); 24.6 (2015); 22.8 (2016); 24.5 (2017); 25.2 (2018)
- MENAP oil exporters: 36.1; 33.2; 27.6; 24.8; 27.3; 28.0
- MENAP oil importers: 20.0; 18.3; 18.4; 18.6; 19.0; 19.5
- CCA: ...; 28.1; 23.9; 23.8; 24.4; 24.5
- Memorandum:
  - MENA: 33.0; 30.2; 26.0; 23.8; 25.8; 26.4
  - GCC: 41.1; 40.7; 31.5; 27.3; 28.8; 30.3
  - Conflict countries: 43.2; 37.6; 29.4; 25.9; 34.2; 35.1

### Table 13. Oil Exporters: General Government Non-Oil Fiscal Balance (Percent of non-oil GDP)
- MENAP oil exporters: -36.4 (Average 2000–13); -42.6 (2014); -35.4 (2015); -30.1 (2016); -28.0 (2017); -25.5 (2018)
- GCC: -44.7; -57.4; -45.1; -37.2; -33.5; -30.6
- Non-GCC oil exporters: -26.7; -25.1; -23.5; -22.0; -21.8; -19.8
- CCA oil and gas exporters: -11.2; -16.9; -18.3; -13.9; -17.6; -12.9
- MENAP oil exporters, excluding conflict countries: -34.6; -41.6; -34.5; -28.5; -25.6; -23.3

### Table 14. Oil Exporters: General Government Non-Oil Revenue (Percent of non-oil GDP)
- MENAP oil exporters: 12.1 (Average 2000–13); 12.4 (2014); 12.8 (2015); 14.7 (2016); 14.4 (2017); 15.9 (2018)
- GCC: 13.2; 13.8; 13.9; 15.9; 15.1; 17.8
- Non-GCC oil exporters: 10.9; 10.7; 11.6; 13.4; 13.6; 13.9
- CCA oil and gas exporters: 22.3; 16.2; 12.6; 15.8; 15.1; 15.3
- MENAP oil exporters, excluding conflict countries: 12.5; 13.3; 13.9; 15.8; 15.4; 17.0

### Table 15. General Government Total Expenditure and Net Lending (Percent of GDP)
- MENAP: 29.1 (Average 2000–13); 32.3 (2014); 33.1 (2015); 31.8 (2016); 30.0 (2017); 29.6 (2018)
- MENAP oil exporters: 30.6; 34.1; 36.3; 34.4; 31.9; 31.5
- MENAP oil importers: 26.2; 28.4; 26.7; 26.2; 26.3; 25.8
- CCA: 25.5; 26.2; 27.7; 26.4; 28.3; 25.9
- Memorandum:
  - MENA: 30.4; 33.8; 34.8; 33.3; 31.2; 30.6
  - GCC: 31.1; 38.6; 40.4; 38.7; 34.9; 35.1
  - Conflict countries: 43.0; 47.6; 48.3; 44.7; 42.8; 41.9

### Table 16. Total Government Gross Debt (Percent of GDP)
- MENAP: 44.1 (Average 2000–13); 32.5 (2014); 41.8 (2015); 47.2 (2016); 48.2 (2017); 47.6 (2018)
- MENAP oil exporters: 29.4; 13.0; 25.6; 31.5; 32.1; 33.4
- MENAP oil importers: 76.5; 73.8; 75.3; 80.2; 81.2; 76.4
- CCA: ...; 16.2; 24.5; 27.4; 25.6; 25.5
- Memorandum:
  - MENA: 41.5; 29.0; 39.5; 45.0; 46.1; 45.3
  - GCC: 29.0; 9.0; 13.5; 22.0; 25.5; 28.6
  - Arab World: 49.5; 32.9; 38.9; 47.5; 49.4; 48.8
- Notes include country-specific debt coverage (central government, banking system claims, public enterprises).

### Table 17. MENAP: Total Government Net Debt (Percent of GDP)
- MENAP: 24.2 (Average 2000–13); 9.1 (2014); 21.3 (2015); 31.0 (2016); 35.7 (2017); 36.0 (2018)
- MENAP oil exporters: 1.6; -27.7; -9.7; 2.9; 8.1; 11.1
- MENAP oil importers: ...; 70.2; 71.3; 76.9; 79.6; 75.0
- Memorandum:
  - MENA: 18.8; 1.0; 15.0; 25.8; 31.1; 31.3
  - GCC: 8.8; -46.8; -36.5; -18.0; -7.9; 0.1
  - Non-GCC oil exporters: -4.1; -11.2; 14.8; 20.8; 21.3; 19.9

### Table 18. Exports of Goods and Services (Billions of U.S. dollars)
- MENAP: 880.9 (Average 2000–13); 1,542.7 (2014); 1,143.8 (2015); 1,076.6 (2016); 1,172.7 (2017); 1,229.1 (2018 projections)
- MENAP oil exporters: 746.6; 1,364.3; 974.6; 919.9; 1,005.4; 1,049.3
- Selected country exports (average and recent years):
  - Algeria: 50.3; 63.5; 38.0; 32.6; 38.2; 38.8
  - Bahrain: 18.8; 32.1; 25.7; 23.8; 27.3; 28.5
  - Iran, I.R. of: 79.6; 99.9; 74.9; 94.4; 107.1; 111.0
  - Kuwait: 64.7; 110.7; 60.5; 52.1; 56.6; 59.4
- Source table continues for additional countries (not all rows shown in provided extract).

*Sources: National authorities; and IMF staff estimates and projections.*

### Section 3

### reo-stat-appendix-tables-with-front-matter - Section 3

### Table 19. Imports of Goods and Services (Billions of U.S. dollars)
- MENAP: -685.1 (Average 2000–13); -1,304.0 (2014); -1,208.4 (2015); -1,162.5 (2016); -1,197.4 (2017); -1,242.9 (2018)
- MENAP oil exporters: -503.1; -1,016.4; -935.9; -895.8; -919.5; -954.7
- Selected country examples:
  - Saudi Arabia: -126.8; -259.0; -247.3; -199.5; -189.3; -195.3
  - United Arab Emirates: -147.9; -318.4; -304.8; -309.1; -322.8; -338.6
  - Egypt: -45.6; -76.5; -78.2; -71.8; -71.4; -72.1
  - Pakistan: -30.4; -49.6; -50.1; -50.1; -57.7; -62.1
- CCA: -69.6; -139.3; -114.0; -104.7; -113.1; -117.2
- Memorandum aggregates:
  - MENA: -650.7; -1,245.9; -1,149.7; -1,104.9; -1,131.7; -1,172.2
  - GCC: -360.8; -757.4; -722.9; -678.9; -685.9; -718.9
  - Arab World: -588.4; -1,157.3; -1,082.5; -1,025.4; -1,045.7; -1,082.8
- Notes: Sources: National authorities; and IMF staff estimates and projections. 1 Excludes re-exports of goods and services. 2 Due to data volatility aggregate excludes Libya and Yemen. 3 West Bank and Gaza is not a member of the IMF and is not included in any of the aggregates.

### Table 20. Current Account Balance (Billions of U.S. dollars)
- MENAP: 195.9 (Average 2000–13); 190.1 (2014); -116.5 (2015); -128.2 (2016); -34.0 (2017); -29.0 (2018)
- MENAP oil exporters: 212.4; 227.8; -75.2; -76.5; -9.9; -5.5
- Selected country examples:
  - Saudi Arabia: 76.9; 73.8; -56.7; -27.5; 4.3; 2.8
  - United Arab Emirates: 26.0; 53.6; 16.7; 8.4; 7.9; 8.5
  - Algeria: 14.4; -9.4; -27.3; -26.3; -22.9; -19.4
  - Egypt: -2.2; -2.4; -12.0; -19.8; ...... (data missing for later years)
- CCA: 5.3; 10.3; -13.4; -20.0; -16.8; -15.4
- Memorandum aggregates:
  - MENA: 196.3; 192.1; -114.4; -124.7; -35.0; -29.4
  - GCC: 164.7; 237.3; -33.9; -45.6; 3.5; 0.0
  - Arab World: 178.2; 178.5; -123.4; -141.1; -56.6; -52.8
- Notes: Sources: National authorities; and IMF staff estimates and projections. 1 Due to data volatility aggregate excludes Libya and Yemen. ² West Bank and Gaza is not a member of the IMF and is not included in any of the aggregates.

### Table 21. Current Account Balance (Percent of GDP)
- MENAP: 8.9 (Average 2000–13); 5.5 (2014); -3.7 (2015); -4.1 (2016); -1.9 (2017); -1.6 (2018)
- MENAP oil exporters: 12.9; 8.8; -3.5; -3.6; -0.4; -0.2
- Selected country examples:
  - Saudi Arabia: 16.8; 9.8; -8.7; -4.3; 0.6; 0.4
  - United Arab Emirates: 10.3; 13.3; 4.7; 2.4; 2.1; 2.1
  - Algeria: 12.5; -4.4; -16.5; -16.5; -13.0; -10.8
  - Egypt: -0.5; -0.8; -3.6; -6.0; -5.9; -3.8
- CCA: 0.8; 2.3; -3.6; -6.4; -4.9; -4.2
- Memorandum aggregates:
  - MENA: 9.6; 6.0; -4.0; -4.4; -1.7; -1.3
  - GCC: 16.6; 14.4; -2.4; -3.4; 0.2; 0.0
  - Arab World: 10.6; 6.4; -5.0; -5.9; -2.8; -2.3
- Notes: Sources: National authorities; and IMF staff estimates and projections. ¹Due to data volatility aggregate excludes Libya and Yemen. 2 West Bank and Gaza is not a member of the IMF and is not included in any of the aggregates.

### Table 22. Gross Official Reserves (Billions of U.S. dollars)
- MENAP: 712.9 (Average 2000–13); 1,465.3 (2014); 1,307.8 (2015); 1,165.9 (2016); 1,108.5 (2017); 1,072.6 (2018)
- MENAP oil exporters: 630.0; 1,348.5; 1,182.1; 1,031.5; 962.1; 930.2
- Selected country examples:
  - Saudi Arabia: 297.5; 726.8; 611.9; 533.6; 485.2; 457.7
  - United Arab Emirates: 32.6; 78.5; 94.0; 85.4; 78.5; 74.5
  - Iran, I.R. of: 60.4; 110.8; 115.7; 104.2; 124.8; 148.4
  - Egypt: 21.6; 16.3; 19.5; 17.1; 30.7; 30.2
- CCA: 33.0; 73.7; 63.5; 67.4; 74.7; 81.0
- Memorandum aggregates:
  - MENA: 701.8; 1,448.9; 1,287.5; 1,140.4; 1,084.8; 1,054.1
  - GCC: 370.8; 903.1; 792.4; 704.9; 648.9; 620.3
  - Arab World: 641.4; 1,338.1; 1,171.7; 1,036.2; 960.0; 905.7
- Notes: Sources: National authorities; and IMF staff estimates and projections. Footnotes specify Saudi Arabia Monetary Agency gross foreign assets; central bank only for some countries; exclusions of gold and encumbered assets; and aggregate exclusions for Libya and Yemen. West Bank and Gaza not included in aggregates.

### Table 23. Total Gross External Debt (Percent of GDP)
- MENAP: 31.5 (Average 2000–13); 28.5 (2014); 34.2 (2015); 38.8 (2016); 40.5 (2017); 41.5 (2018)
- MENAP oil exporters: 26.0; 25.4; 33.2; 39.0; 38.8; 40.7
- Selected country examples:
  - Bahrain: 106.0; 154.1; 174.4; 184.6; 193.2; 203.5
  - Qatar: 66.0; 80.7; 110.6; 147.8; 136.6; 130.9
  - Lebanon: 159.1; 175.0; 175.8; 183.9; 185.6; 184.0
  - Jordan: ...; 64.0; 65.8; 66.9; 68.4; 70.3
- CCA: 54.6; 46.6; 57.1; 75.2; 71.8; 69.9
- Memorandum aggregates:
  - MENA: 31.1; 28.8; 35.4; 40.3; 42.2; 43.1
  - GCC: 28.0; 35.0; 45.2; 54.6; 54.6; 55.5
  - Arab World: 37.0; 33.0; 40.4; 46.8; 49.2; 49.4
- Notes: Sources: National authorities; and IMF staff estimates and projections. Footnotes on conversion, exclusions, data limitations, and aggregates (Libya and Yemen excluded due to volatility). West Bank and Gaza not included in aggregates.

### Table 24. Gross Official Reserves (Months of Imports)
- MENAP: 9.5 (Average 2000–13); 13.7 (2014); 12.8 (2015); 11.1 (2016); 10.2 (2017); 9.7 (2018)
- MENAP oil exporters: 10.9; 16.2; 14.8; 12.6; 11.4; 10.9
- Selected country examples:
  - Algeria: 26.5; 33.4; 28.4; 22.3; 19.3; 16.3
  - Saudi Arabia: 21.1; 35.3; 36.8; 33.8; 29.8; 27.8
  - Iran, I.R. of: 11.2; 19.8; 17.5; 14.5; 16.8; 19.1
  - Egypt: 5.9; 2.5; 3.3; 2.9; 5.1; 4.7
- CCA: 4.7; 9.0; 8.5; 8.2; 8.8; 9.2
- Memorandum aggregates:
  - MENA: 9.8; 14.3; 13.2; 11.5; 10.6; 10.1
  - GCC: 9.6; 15.0; 14.0; 12.3; 10.8; 10.1
  - Arab World: 9.7; 13.9; 12.9; 11.2; 10.1; 9.3
- Notes: Calculated as reserves in months of next year's imports. Footnotes clarify reporting (Saudi Arabia Monetary Agency assets; central bank only; reserves net of re-exports for specified years; exclusions). West Bank and Gaza not included in aggregates.

### Table 25. Capital Adequacy Ratios (Percent of risk-weighted assets)
- Time series snapshots (selected):
  - Bahrain: 1.8 (Dec-13); 1.5 (Dec-14); 0.8 (Jun-15); 1.2 (Sep-15); 1.4 (Dec-15); 0.4 (Mar-16); 0.7 (Jun-16); 1.1 (Sep-16)
  - Kuwait: 1.0; 1.1; 1.1; 1.1; 1.1; 1.1; 1.0; 1.0; 1.1
  - Saudi Arabia: 2.0; 2.0; 2.1; 2.0; 2.0; 2.1; 2.1; 2.1; 2.0; 1.8; 2.0; 2.0
  - Egypt (after tax): 1.0; 1.3; 1.3; 1.3; 1.3; 1.5; 1.5; 1.5
  - Pakistan: 1.6; 2.2; 2.7; 2.6; 2.5; 2.3; 2.2; 2.1; 2.1; 1.9
- CCA and other examples:
  - Armenia: 1.9; 1.0; -0.3; -0.3; -0.5; 0.2; 0.5
  - Georgia (cumulative and annualized): 2.6; 2.6; 2.1; 2.2; 2.3; 1.5; 2.4; 2.5; 2.8; 3.5
- Memorandum: West Bank and Gaza series shown (1.9; 1.7; 1.6; 1.6; 1.5; 1.7; 1.6; 1.5; 1.5; 1.4; 1.6)
- Notes: Source: National authorities. Footnotes clarify coverage (conventional retail banks only for some series; national banks only; after tax; cumulative and annualized). West Bank and Gaza not included in aggregates.

### Table 26. Return on Assets (Pre-tax, percent)
- Time series snapshots (selected oil exporters):
  - Algeria: 10.6 (Dec-13); 9.2 (Dec-14)
  - Bahrain: 4.1; 3.7; 3.5; 3.6; 3.9; 3.6; 4.8; 4.7 (series across Dec-13 to Jun-16)
  - Kuwait: 3.6; 2.9; 2.8; 3.0; 2.4; 2.4; 2.4; 2.3; 2.2
  - Oman: 2.0; 1.9; 1.8; 1.7; 1.8; ...; 1.6; ...; 1.8 (Dec-13 to Jun-16)
- Notes: Source: National authorities. Footnotes specify coverage and reporting nuances for individual country series where applicable.

*Sources: National authorities; and IMF staff estimates and projections.*

### Section 4

### Table 27. Nonperforming Loans (90-day basis, percent of total loans)

### Oil exporters
- Qatar: 1.9 1.7 1.4 ... 1.6 ......... 1.3 ......  
- Saudi Arabia: 1.3 1.1 1.2 1.2 1.2 1.2 1.3 1.4 1.4 1.4  
- United Arab Emirates: 3 6.7 5.6 5.0 5.1 5.2 ..................  
- Yemen: 4 21.7 ..............................  

### Oil importers
- Afghanistan, Rep. of: 4.9 7.8 13.5 13.7 12.1 15.2 16.9 13.1 11.1 ......  
- Djibouti: 14.5 18.0 22.5 22.3 22.1 ..................  
- Egypt: 5 9.3 8.5 7.6 7.2 6.8 6.7 5.9 5.9 .........  
- Jordan: 7.0 5.6 5.5 5.4 5.0 4.7 4.8 4.6 4.4 ......  
- Lebanon: 4.0 4.0 4.0 ... 4.2 4.4 4.5 4.7 4.9 ......  
- Mauritania: 20.4 23.0 23.9 25.0 30.0 ......... 21.5 ......  
- Morocco: 5.8 6.8 7.1 7.4 7.3 7.6 7.5 7.7 7.5 7.6 ...  
- Pakistan: 13.3 12.3 12.4 12.5 11.4 11.7 11.1 11.3 10.1 9.9 ...  
- Somalia:  
- Sudan: 8.4 7.1 6.2 6.2 5.1 5.1 6.0 6.2 5.2 0.0 0.0  
- Syrian Arab Republic: .................................
- Tunisia: 16.5 15.7 15.6 ........................  

### CCA
- Armenia: 6 4.5 6.8 9.0 8.4 7.8 10.0 9.2 ............  
- Azerbaijan: 7 4.5 4.4 4.6 4.9 .....................  
- Georgia: 3.1 3.1 3.4 3.0 2.7 3.3 3.7 3.9 3.5 3.7 ...  
- Kazakhstan: 31.3 23.5 10.0 9.2 8.0 8.4 7.9 7.9 6.7 7.7 ...  
- Kyrgyz Republic: 5.5 4.5 5.2 6.0 7.1 8.5 9.0 9.0 8.8 ......  
- Tajikistan: 8 16.0 25.1 22.4 22.7 29.9 47.5 56.7 58.9 54.0 50.8 ...  
- Turkmenistan: 0.1 0.1 ...... 0.2 ......... 0.3 ......  
- Uzbekistan: 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 ......  

### Memorandum
- West Bank and Gaza: 9 2.9 2.5 2.5 2.5 2.3 2.0 2.0 2.3 2.2 2.2 2.4  

### Notes
- Source: National authorities.  
- 1 Conventional retail banks only; excludes Islamic Wholesale and Retail banks along with Conventional Wholesale banks.  
- 2 December data refer to March data of the following year.  
- 3 National banks only.  
- 4 Data refer to all banks except the Housing Bank and CAC Bank.  
- 5 Data refer to end of fiscal year.  
- 6 Defined as loans overdue between at least 1 and 270 days.  
- 7 Only the overdue portion of principal and interest is disclosed as NPL.  
- 8 Overdue by 30 days or more.  
- 9 West Bank and Gaza is not a member of the IMF and is not included in any of the aggregates.

*Source: National authorities.*

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_Source: https://www.imf.org/-/media/files/publications/reo/mcd-cca/2017/october/menap/reo-stat-appendix-tables-with-front-matter.pdf_