## tablea

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### Summary of World Output (Table A1)
- World growth (Real GDP, annual percent change): 3.9; 4.3; 3.5; 3.5; 3.6; 3.4; 3.4; 3.8; 3.6; 3.3; 3.6; 3.7
- Advanced Economies (Real GDP, annual percent change): 1.7; 1.7; 1.2; 1.4; 2.1; 2.3; 1.7; 2.4; 2.2; 1.8; 1.7; 1.6
- Emerging Market and Developing Economies (Real GDP, annual percent change): 6.2; 6.4; 5.4; 5.1; 4.7; 4.3; 4.6; 4.8; 4.5; 4.4; 4.8; 4.9
- Regional highlights (annual percent change):
  - Commonwealth of Independent States: 5.5; 5.3; 3.6; 2.5; 1.0; –1.9; 0.8; 2.4; 2.8; 2.2; 2.3; 2.4
  - Emerging and Developing Asia: 8.4; 7.9; 7.0; 6.9; 6.8; 6.8; 6.7; 6.6; 6.4; 6.3; 6.3; 6.1
  - Latin America and the Caribbean: 3.2; 4.6; 2.9; 2.9; 1.3; 0.3; –0.6; 1.2; 1.0; 1.4; 2.4; 2.8
  - Sub-Saharan Africa: 5.9; 5.3; 4.7; 5.2; 5.1; 3.2; 1.4; 2.9; 3.0; 3.5; 3.7; 4.0
- Memorandum:
  - European Union (annual percent change): 1.6; 1.8; –0.3; 0.3; 1.9; 2.4; 2.1; 2.7; 2.1; 1.6; 1.7; 1.6
  - Low-Income Developing Countries (annual percent change): 6.5; 5.3; 4.7; 6.0; 6.0; 4.6; 3.6; 4.9; 4.6; 5.0; 5.1; 5.3
- Output per capita (annual percent change, PPP basis):
  - Advanced Economies: 1.1; 1.2; 0.7; 0.9; 1.6; 1.7; 1.2; 1.9; 1.8; 1.3; 1.3; 1.2
  - Emerging Market and Developing Economies: 4.6; 4.9; 3.6; 3.6; 3.2; 2.8; 3.1; 3.3; 3.2; 3.0; 3.5; 3.6
- Value of World Output:
  - At Market Exchange Rates (billions of US dollars): 49,851; 73,245; 74,639; 76,770; 78,852; 74,689; 75,735; 80,145; 84,740; 87,265; 92,310; 114,577
  - At Purchasing Power Parities (billions of international dollars): 70,655; 95,045; 99,926; 105,120; 110,836; 115,750; 120,828; 127,693; 135,178; 142,046; 150,169; 187,689

### Advanced Economies: Real GDP, Domestic Demand, and Components (Tables A2–A3)
- Real GDP, Advanced Economies (annual percent change): 1.7; 1.7; 1.2; 1.4; 2.1; 2.3; 1.7; 2.4; 2.2; 1.8; 1.7; 1.6
- United States, Real GDP (annual percent change): 1.7; 1.6; 2.2; 1.8; 2.5; 2.9; 1.6; 2.2; 2.9; 2.3; 1.9; 1.6
- Euro Area, Real GDP (annual percent change): 1.2; 1.6; –0.9; –0.2; 1.4; 2.1; 2.0; 2.4; 1.8; 1.3; 1.5; 1.4
- Japan, Real GDP (annual percent change): 0.6; –0.1; 1.5; 2.0; 0.4; 1.2; 0.6; 1.9; 0.8; 1.0; 0.5; 0.5
- Real Total Domestic Demand, Advanced Economies (annual percent change): 1.6; 1.4; 0.8; 1.1; 2.1; 2.6; 1.9; 2.3; 2.2; 1.9; 1.7; 1.6
- United States, Real Total Domestic Demand (annual percent change): 1.7; 1.5; 2.2; 1.6; 2.6; 3.6; 1.8; 2.5; 3.0; 2.5; 1.7; 1.4
- Euro Area, Real Total Domestic Demand (annual percent change): 1.1; 0.7; –2.4; –0.6; 1.3; 2.4; 2.4; 2.4; 1.7; 1.3; 1.6; 1.5
- Components of Real GDP, Advanced Economies (annual percent change / changes as percent of GDP):
  - Private Consumer Expenditure: 1.8; 1.7; 1.1; 0.9; 1.2; 1.8; 2.5; 2.2; 2.2; 2.0; 1.6; 1.5
  - Public Consumption: 2.1; 0.8; –0.6; –0.1; –0.1; 0.5; 1.7; 1.9; 0.7; 1.6; 1.6; 1.4
  - Gross Fixed Capital Formation: 0.5; 2.8; 3.2; 2.6; 1.7; 3.5; 3.2; 2.0; 3.8; 3.1; 2.5; 2.4
  - Final Domestic Demand: 1.6; 1.8; 1.3; 1.1; 1.1; 2.0; 2.5; 2.1; 2.3; 2.1; 1.9; 1.7
  - Stock Building (changes as percent of GDP in the preceding period): 0.0; 0.0; 0.2; –0.2; 0.0; 0.1; 0.1; –0.3; 0.0; 0.1; 0.1; 0.1
  - Foreign Balance (changes as percent of GDP in the preceding period): 0.1; 0.0; 0.3; 0.4; 0.3; 0.0; –0.3; –0.2; 0.1; 0.0; –0.1; 0.0

### Emerging Market and Developing Economies: Real GDP (Table A4)
- Commonwealth of Independent States (aggregate, annual percent change): 5.5; 5.3; 3.6; 2.5; 1.0; –1.9; 0.8; 2.4; 2.8; 2.2; 2.3; 2.4
  - Russia: 4.8; 5.1; 3.7; 1.8; 0.7; –2.5; 0.3; 1.6; 2.3; 1.6; 1.7; 1.6
  - Uzbekistan: 6.9; 8.3; 8.2; 8.0; 8.0; 7.9; 7.9; 8.0; 8.9; 5.0; 5.0; 5.5
- Emerging and Developing Asia (annual percent change): 8.4; 7.9; 7.0; 6.9; 6.8; 6.8; 6.7; 6.6; 6.4; 6.3; 6.3; 6.1
  - China: 10.5; 9.5; 7.9; 7.8; 7.3; 6.9; 6.7; 6.8; 6.6; 6.3; 6.1; 5.5
  - India: 7.5; 6.6; 5.5; 6.4; 7.4; 8.0; 8.2; 7.2; 7.2; 7.1; 7.3; 7.5; 7.7
  - Vietnam: 6.8; 6.2; 5.2; 5.4; 6.0; 6.7; 6.2; 6.8; 7.1; 6.5; 6.5; 6.5
- Emerging and Developing Europe (annual percent change): 3.9; 6.7; 2.6; 4.9; 3.9; 4.8; 3.3; 3.6; 3.6; 0.8; 2.8; 3.1
  - Turkey: 4.0; 11.1; 4.8; 8.5; 5.2; 6.1; 3.2; 7.4; 2.6; –2.5; 2.5; 3.5
- Latin America and the Caribbean (annual percent change): 3.2; 4.6; 2.9; 2.9; 1.3; 0.3; –0.6; 1.2; 1.0; 1.4; 2.4; 2.8
  - Brazil: 3.7; 4.0; 1.9; 3.0; 0.5; –3.5; –3.3; 1.1; 1.1; 2.1; 2.1; 2.2
  - Guyana: 2.4; 5.4; 5.0; 5.0; 3.9; 3.1; 3.4; 2.1; 3.4; 3.8; 29.6; 17.9
  - Venezuela: 3.1; 4.2; 5.6; 1.3; –3.9; –6.2; –17.0; –15.7; –18.0; –25.0; –10.0; –1.5
- Middle East, North Africa, Afghanistan, and Pakistan (annual percent change): 5.1; 4.4; 4.8; 2.6; 2.9; 2.6; 5.2; 2.2; 1.8; 1.5; 3.2; 2.8
  - Saudi Arabia: 3.4; 10.0; 5.4; 2.7; 3.7; 4.1; 1.7; –0.7; 2.2; 1.8; 2.1; 2.3
  - Iran: 4.7; 3.1; –7.7; –0.3; 3.2; –1.6; 12.5; 3.7; –3.9; –6.0; 0.2; 1.1
  - Libya: 4.1; –66.7; 124.7; –36.8; –53.0; –13.0; –7.4; 64.0; 17.9; 4.3; 1.4; 1.5

### Sub-Saharan Africa — Real GDP (Section 2)
- Regional line (annual percent change): 5.9, 5.3, 4.7, 5.2, 5.1, 3.2, 1.4, 2.9, 3.0, 3.5, 3.7, 4.0
- Selected countries (annual percent change):
  - Angola: 8.8, 3.5, 8.5, 5.0, 4.8, 0.9, –2.6, –0.2, –1.7, 0.4, 2.9, 3.9
  - Nigeria: 8.9, 4.9, 4.3, 5.4, 6.3, 2.7, –1.6, 0.8, 1.9, 2.1, 2.5, 2.6
  - South Africa: 3.5, 3.3, 2.2, 2.5, 1.8, 1.2, 0.4, 1.4, 0.8, 1.2, 1.5, 1.8
  - Ethiopia: 8.5, 11.4, 8.7, 9.9, 10.3, 10.4, 8.0, 10.1, 7.7, 7.7, 7.5, 7.0
  - Zimbabwe: 8, –3.9, 14.2, 16.7, 2.0, 2.4, 1.8, 0.7, 4.7, 3.4, –5.2, 3.3, 4.0
  - South Sudan: . . .. . .–52.4, 29.3, 2.9, –0.2, –16.7, –5.5, –1.2, 8.8, 5.2, 5.0
  - Mozambique: 8.2, 7.1, 7.2, 7.1, 7.4, 6.6, 3.8, 3.7, 3.3, 4.0, 4.0, 11.7

### Consumer Prices — Emerging Market and Developing Economies (Sections 2–3)
- Aggregate Emerging Market and Developing Economies (annual averages / projections): 6.6, 7.1, 5.8, 5.5, 4.7, 4.7, 4.2, 4.3, 4.8, 4.9, 4.7, 4.2
- Regional groups (annual averages / projections, selected):
  - Commonwealth of Independent States: 12.1, 9.8, 6.2, 6.5, 8.1, 15.5, 8.3, 5.5, 4.5, 5.7, 5.0, 4.3
  - Emerging and Developing Asia: 4.3, 6.5, 4.6, 4.6, 3.4, 2.7, 2.8, 2.4, 2.6, 2.8, 3.1, 3.3
  - Latin America and the Caribbean: 5.8, 5.2, 4.6, 4.6, 4.9, 5.5, 5.6, 6.0, 6.2, 6.5, 5.1, 3.6
  - Middle East, North Africa, Afghanistan, and Pakistan: 7.1, 9.3, 9.8, 9.2, 6.7, 5.4, 4.7, 6.4, 10.4, 9.7, 9.3, 7.8
  - Sub-Saharan Africa: 9.9, 9.3, 9.2, 6.6, 6.4, 7.0, 11.2, 11.0, 8.5, 8.1, 7.4, 6.6
- Analytical groups (selected):
  - Fuel exporters: 9.7, 8.6, 8.0, 8.1, 6.4, 8.6, 6.9, 5.4, 7.2, 7.6, 7.2, 6.5
  - Nonfuel exporters: 5.7, 6.7, 5.3, 4.9, 4.2, 3.8, 3.7, 4.0, 4.3, 4.4, 4.2, 3.9
  - Primary products subset: 6.5, 6.8, 7.0, 6.5, 7.1, 5.2, 6.4, 11.2, 13.6, 15.0, 10.7, 6.7
- Memorandum — Median Inflation Rate:
  - Advanced Economies: 2.2, 3.2, 2.6, 1.4, 0.7, 0.1, 0.6, 1.6, 1.9, 1.6, 1.7, 2.0
  - Emerging Market and Developing Economies: 5.1, 5.4, 4.5, 3.8, 3.1, 2.7, 2.7, 3.3, 3.1, 3.1, 3.2, 3.0

### Notable country consumer price series (as presented)
- Russia (CIS): 12.5, 8.4, 5.1, 6.8, 7.8, 15.5, 7.1, 3.7, 2.9, 5.0, 4.5, 4.0, 4.3, 4.2
- Turkey (Emerging and Developing Europe): 17.5, 6.5, 8.9, 7.5, 8.9, 7.7, 7.8, 11.1, 16.3, 17.5, 14.1, 12.4, 20.3, 15.5, 14.0
- Venezuela (Latin America and the Caribbean): 22.3, 27.1, 21.1, 38.5, 57.3, 111.8, 254.4, 493.6, 929,789.5, 10,000,000,000, 10,000,000, 10,000,000, 1,555,146, 10,000,000, 10,000,000
- Iran (Middle East, North Africa, Afghanistan, and Pakistan): 14.7, 21.5, 30.6, 34.7, 15.6, 11.9, 9.1, 9.6, 31.2, 37.2, 31.0, 25.0, 51.1, 31.2, 30.0
- Sudan (Middle East, North Africa, Afghanistan, and Pakistan): 10.8, 18.1, 35.6, 36.5, 36.9, 16.9, 17.8, 32.4, 63.3, 49.6, 58.1, 72.8, 72.9, 56.2, 59.4

### Emerging Market and Developing Economies: Country-level inflation (selected, Section 3)
- Sub-Saharan Africa composite (annual percent change): 9.9, 9.3, 9.2, 6.6, 6.4, 7.0, 11.2, 11.0, 8.5, 8.1, 7.4, 6.6, 8.0, 8.0, 7.3
- Country examples (annual percent change / projections, selected):
  - Angola: 42.4, 13.5, 10.3, 8.8, 7.3, 9.2, 30.7, 29.8, 19.6, 17.5, 11.1, 6.0, 18.6, 15.0, 9.0
  - Ethiopia: 11.1, 33.2, 24.1, 8.1, 7.4, 9.6, 6.6, 10.7, 13.8, 9.3, 8.0, 8.0, 10.4, 8.0, 8.0
  - Nigeria: 12.9, 10.8, 12.2, 8.5, 8.0, 9.0, 15.7, 16.5, 12.1, 11.7, 11.7, 11.0, 11.4, 12.1, 11.7
  - South Africa: 5.9, 5.0, 5.6, 5.8, 6.1, 4.6, 6.3, 5.3, 4.6, 5.0, 5.4, 5.5, 4.9, 5.3, 5.5
  - Zimbabwe: –5.6, 3.5, 3.7, 1.6, –0.2, –2.4, –1.6, 0.9, 10.6, 73.4, 9.4, 3.0, 42.1, 40.1, 4.8
- Notes and methodological points (selected):
  - Monthly year-over-year changes and, for several countries, on a quarterly basis.
  - For many countries, earlier years measured on a retail price index; CPI-based data used for more recent years.
  - Starting in 2014, data exclude Crimea and Sevastopol.
  - Data for 2011 exclude South Sudan after July 9. Data for 2012 and onward pertain to the current Sudan.
  - The Zimbabwe dollar ceased circulating in early 2009; data are based on IMF staff estimates of price and exchange rate developments in US dollars.

### Balance on Current Account — Advanced and Emerging Economies (Table A11–A12)
- Advanced Economies (percent of GDP, selected series): –0.1 0.1 0.5 0.5 0.6 0.7 0.9 0.7 0.6 0.5 0.6
  - United States: –2.9 –2.6 –2.1 –2.1 –2.2 –2.3 –2.3 –2.3 –2.4 –2.6 –2.1
  - Euro Area: –0.1 1.4 2.3 2.5 2.9 3.2 3.2 3.0 2.9 2.8 2.2
  - Germany: 6.1 7.0 6.7 7.5 8.9 8.5 8.0 7.4 7.1 6.8 6.2
  - Japan: 2.1 1.0 0.9 0.8 3.1 4.0 4.0 3.5 3.5 3.6 3.5
  - United Kingdom: –2.0 –3.8 –5.1 –4.9 –4.9 –5.2 –3.3 –3.9 –4.2 –4.0 –3.8
- Emerging Market and Developing Economies (percent of GDP, selected series): 4.5 3.7 2.0 2.2 –0.6 –1.0 –0.1 –0.3 –1.6 –2.0 –3.8
  - Russia: 4.8 3.2 1.5 2.8 5.0 1.9 2.1 7.0 5.7 5.1 3.0
  - China: 1.8 2.5 1.5 2.2 2.7 1.8 1.4 0.4 0.4 0.3 –0.2
  - India: –4.3 –4.8 –1.7 –1.3 –1.0 –0.6 –1.8 –2.5 –2.5 –2.4 –2.5
  - Saudi Arabia: 23.6 22.4 18.1 9.8 –8.7 –3.7 1.4 8.3 3.5 2.8 –0.9
  - Turkey: –8.9 –5.5 –6.7 –4.7 –3.7 –3.8 –5.6 –3.6 0.7 –0.4 –2.4
  - Sub-Saharan Africa (group): –0.6 –1.7 –2.2 –3.6 –5.9 –3.7 –2.1 –2.6 –3.7 –3.7 –2.8

### Summary of Financial Account Balances — Selected entries and projections (Table A13 and continued)
- Advanced Economies — Financial Account Balance (Billions of US dollars, selected series): –261.7 –155.0 224.6 354.6 332.3 434.0 439.9 355.9 311.9 282.2
  - Direct Investment, Net: 359.2 109.8 154.9 220.8 –27.9 –191.6 190.8 –37.3 83.7 125.2
  - Portfolio Investment, Net: –1,112.1 –246.0 –552.6 76.3 263.4 492.5 63.6 203.3 354.8 325.1
  - Change in Reserves: 349.8 273.2 153.1 134.9 226.8 178.6 244.3 124.4 97.4 98.0
- United States — Financial Account Balance: –526.0 –448.2 –400.3 –297.3 –325.9 –385.1 –331.9 –465.2 –507.1 –574.4
  - Direct Investment, Net: 173.1 126.9 104.7 135.7 –202.0 –181.5 24.4 –373.4 –178.8 –178.0
  - Portfolio Investment, Net: –226.3 –498.3 –30.7 –114.9 –53.5 –195.1 –212.5 –44.0 –274.0 –230.5
  - Change in Reserves: 15.9 4.5 –3.1 –3.6 –6.3 2.1 –1.7 2.9 0.0 0.0
- Euro Area — Financial Account Balance: –40.9 182.6 439.0 337.6 296.5 381.5 473.2 466.7 . . .. . .
  - Direct Investment, Net: 124.9 58.9 13.5 69.1 158.3 196.2 140.6 354.0 . . .. . .
  - Portfolio Investment, Net: –383.3 –177.0 –168.5 75.4 221.1 529.5 300.8 80.9 . . .. . .
- Germany — Financial Account Balance: 167.7 194.3 300.0 317.8 264.9 284.3 316.3 274.7 279.6 282.0
  - Direct Investment, Net: 10.3 33.6 26.0 95.3 74.8 33.2 47.1 59.3 48.9 55.2
  - Portfolio Investment, Net: –51.4 66.8 209.6 177.7 213.5 228.8 228.1 134.5 189.9 179.5
  - Change in Reserves: 3.9 1.7 1.2 –3.3 –2.4 1.9 –1.5 0.5 0.0 0.0
- Select country projections (2019–2020), Table A13 (continued):
  - Spain — Financial Account Balance: 15.3 (2019), 16.2 (2020); Direct Investment, Net: 17.3 (2019), 18.4 (2020); Portfolio Investment, Net: 19.3 (2019), 17.7 (2020); Other Investment, Net: –22.0 (2019), –21.4 (2020); Change in Reserves: 0.0 (2019), 0.0 (2020)
  - Japan — Financial Account Balance: 183.8 (2019), 177.4 (2020); Direct Investment, Net: 134.4 (2019), 144.6 (2020); Portfolio Investment, Net: –53.5 (2019), 88.1 (2020); Other Investment, Net: 7.7 (2019), –63.3 (2020); Change in Reserves: 24.0 (2019), 11.0 (2020)
  - United Kingdom — Financial Account Balance: –85.8 (2019), –120.0 (2020); Direct Investment, Net: –14.6 (2019), –0.8 (2020); Portfolio Investment, Net: –134.9 (2019), –361.7 (2020); Other Investment, Net: –19.2 (2019), 248.1 (2020); Change in Reserves: 24.8 (2019), 15.6 (2020)
  - Emerging Market and Developing Economies (aggregate) — Financial Account Balance: –83.8 (2019), –106.0 (2020); Direct Investment, Net: –381.0 (2019), –380.2 (2020); Portfolio Investment, Net: –51.1 (2019), –33.4 (2020); Other Investment, Net: 273.2 (2019), 185.5 (2020); Change in Reserves: 74.6 (2019), 115.2 (2020)
- Regional projections (2019–2020, selected):
  - Commonwealth of Independent States — Financial Account Balance: 84.8 (2019), 79.1 (2020); Change in Reserves: 43.2 (2019), 57.1 (2020)
  - Emerging and Developing Asia — Financial Account Balance: –95.5 (2019), –11.3 (2020); Change in Reserves: 8.4 (2019), 61.5 (2020)
  - Latin America and the Caribbean — Financial Account Balance: –110.0 (2019), –102.4 (2020); Change in Reserves: 10.2 (2019), 2.8 (2020)
  - Sub-Saharan Africa — Financial Account Balance: –53.6 (2019), –52.2 (2020); Change in Reserves: 3.1 (2019), –1.1 (2020)
- Analytical groups (selected projections):
  - Fuel exporters — Financial Account Balance: 246.9 (2019), 121.2 (2020); Change in Reserves: 54.2 (2019), 46.6 (2020)
  - Nonfuel exporters — Financial Account Balance: –330.7 (2019), –227.3 (2020); Change in Reserves: 20.4 (2019), 68.6 (2020)
  - Net Debtor Economies — Financial Account Balance: –290.5 (2019), –269.7 (2020); Change in Reserves: –6.5 (2019), 39.1 (2020)
- World memorandum — Financial Account Balance (annual series excerpt): –27.7 (2011), –44.5 (2012), 253.0 (2013), 373.6 (2014), 61.5 (2015), 20.3 (2016), 184.4 (2017), 272.1 (2018), 205.9 (2019), 123.5 (2020)

### Summary of World Medium-Term Baseline Scenario (Section 6)
- Projections — Real GDP and Growth:
  - World Real GDP: 3.9, 3.6, 3.8, 3.6, 3.3, 3.6, 3.6, 3.6
  - Advanced Economies: 1.7, 1.9, 2.4, 2.2, 1.8, 1.7, 2.0, 1.6
  - Emerging Market and Developing Economies: 6.2, 4.9, 4.8, 4.5, 4.4, 4.8, 4.6, 4.9
- Memorandum — Potential Output, Trade, and Prices:
  - Potential Output, Major Advanced Economies: 1.8, 1.4, 1.5, 1.6, 1.5, 1.5, 1.5, 1.4
  - World Trade, Volume (goods and services): 5.0, 3.9, 5.4, 3.8, 3.4, 3.9, 4.1, 3.8
- Memorandum — Imports (Percent):
  - Imports, Advanced Economies: 3.5, 3.4, 4.3, 3.3, 3.0, 3.2, 3.4, 3.3
  - Imports, Emerging Market and Developing Economies: 9.1, 5.0, 7.5, 5.6, 4.6, 5.3, 5.7, 5.1
- Memorandum — Exports (Percent):
  - Exports, Advanced Economies: 3.9, 3.5, 4.4, 3.1, 2.7, 3.1, 3.3, 3.2
  - Exports, Emerging Market and Developing Economies: 8.1, 4.5, 7.2, 4.3, 4.0, 4.8, 5.0, 4.5
- Memorandum — Terms of Trade (Percent):
  - Advanced Economies: –0.1, 0.1, –0.2, –0.6, –0.3, 0.1, –0.2, 0.2
  - Emerging Market and Developing Economies: 1.0, –0.2, 0.8, 1.3, –0.9, 0.0, 0.3, 0.1
- World Prices in US Dollars (Annual Percent Change):
  - Manufactures: 1.9, –0.1, –0.3, 2.7, 1.0, 0.2, 0.9, 0.9
  - Oil: 10.8, –2.9, 23.3, 29.4, –13.4, –0.2, 8.3, –0.5
  - Nonfuel Primary Commodities: 8.9, –1.2, 6.4, 1.6, –0.2, 1.1, 2.2, 0.6
- Consumer Prices (Annual Percent Change):
  - Advanced Economies: 2.0, 1.6, 1.7, 2.0, 1.6, 2.1, 1.8, 2.0
  - Emerging Market and Developing Economies: 6.6, 5.1, 4.3, 4.8, 4.9, 4.7, 4.7, 4.4
- Interest Rates (Real):
  - Real Six-Month LIBOR: 0.7, –0.3, –0.4, 0.2, 1.4, 1.8, 0.8, 0.9
  - World Real Long-Term Interest Rate: 1.9, 0.3, –0.2, –0.1, 0.4, 0.0, 0.0, 0.5
- Current Account Balances (Percent of GDP):
  - Advanced Economies: –0.8, 0.5, 0.9, 0.7, 0.6, 0.5, 0.7, 0.5
  - Emerging Market and Developing Economies: 2.5, 0.2, 0.0, –0.1, –0.4, –0.5, –0.3, –0.8
- External Debt and Debt Service (Percent of GDP):
  - Total External Debt, Emerging Market and Developing Economies: 30.4, 28.6, 30.3, 29.9, 30.1, 29.3, 29.9, 27.6
  - Debt Service, Emerging Market and Developing Economies: 9.1, 10.2, 9.8, 10.3, 10.4, 10.2, 10.2, 9.6

*Source: tablea - Sections 1–6 (STATISTICAL APPENDIX), International Monetary Fund | April 2019.*

### Section 1

### tablea - Section 1

### Summary of World Output (Table A1)
- World growth (Real GDP, annual percent change): 3.9; 4.3; 3.5; 3.5; 3.6; 3.4; 3.4; 3.8; 3.6; 3.3; 3.6; 3.7
- Advanced Economies (Real GDP, annual percent change): 1.7; 1.7; 1.2; 1.4; 2.1; 2.3; 1.7; 2.4; 2.2; 1.8; 1.7; 1.6
- Emerging Market and Developing Economies (Real GDP, annual percent change): 6.2; 6.4; 5.4; 5.1; 4.7; 4.3; 4.6; 4.8; 4.5; 4.4; 4.8; 4.9
- Regional highlights (annual percent change):
  - Commonwealth of Independent States: 5.5; 5.3; 3.6; 2.5; 1.0; –1.9; 0.8; 2.4; 2.8; 2.2; 2.3; 2.4
  - Emerging and Developing Asia: 8.4; 7.9; 7.0; 6.9; 6.8; 6.8; 6.7; 6.6; 6.4; 6.3; 6.3; 6.1
  - Latin America and the Caribbean: 3.2; 4.6; 2.9; 2.9; 1.3; 0.3; –0.6; 1.2; 1.0; 1.4; 2.4; 2.8
  - Sub-Saharan Africa: 5.9; 5.3; 4.7; 5.2; 5.1; 3.2; 1.4; 2.9; 3.0; 3.5; 3.7; 4.0
- Memorandum:
  - European Union (annual percent change): 1.6; 1.8; –0.3; 0.3; 1.9; 2.4; 2.1; 2.7; 2.1; 1.6; 1.7; 1.6
  - Low-Income Developing Countries (annual percent change): 6.5; 5.3; 4.7; 6.0; 6.0; 4.6; 3.6; 4.9; 4.6; 5.0; 5.1; 5.3
- Output per capita (annual percent change, PPP basis):
  - Advanced Economies: 1.1; 1.2; 0.7; 0.9; 1.6; 1.7; 1.2; 1.9; 1.8; 1.3; 1.3; 1.2
  - Emerging Market and Developing Economies: 4.6; 4.9; 3.6; 3.6; 3.2; 2.8; 3.1; 3.3; 3.2; 3.0; 3.5; 3.6
- Value of World Output:
  - At Market Exchange Rates (billions of US dollars): 49,851; 73,245; 74,639; 76,770; 78,852; 74,689; 75,735; 80,145; 84,740; 87,265; 92,310; 114,577
  - At Purchasing Power Parities (billions of international dollars): 70,655; 95,045; 99,926; 105,120; 110,836; 115,750; 120,828; 127,693; 135,178; 142,046; 150,169; 187,689

### Advanced Economies: Real GDP and Domestic Demand (Table A2)
- Real GDP, Advanced Economies (annual percent change): 1.7; 1.7; 1.2; 1.4; 2.1; 2.3; 1.7; 2.4; 2.2; 1.8; 1.7; 1.6
- United States, Real GDP (annual percent change): 1.7; 1.6; 2.2; 1.8; 2.5; 2.9; 1.6; 2.2; 2.9; 2.3; 1.9; 1.6
- Euro Area, Real GDP (annual percent change): 1.2; 1.6; –0.9; –0.2; 1.4; 2.1; 2.0; 2.4; 1.8; 1.3; 1.5; 1.4
- Japan, Real GDP (annual percent change): 0.6; –0.1; 1.5; 2.0; 0.4; 1.2; 0.6; 1.9; 0.8; 1.0; 0.5; 0.5
- Real Total Domestic Demand, Advanced Economies (annual percent change): 1.6; 1.4; 0.8; 1.1; 2.1; 2.6; 1.9; 2.3; 2.2; 1.9; 1.7; 1.6
- United States, Real Total Domestic Demand (annual percent change): 1.7; 1.5; 2.2; 1.6; 2.6; 3.6; 1.8; 2.5; 3.0; 2.5; 1.7; 1.4
- Euro Area, Real Total Domestic Demand (annual percent change): 1.1; 0.7; –2.4; –0.6; 1.3; 2.4; 2.4; 2.4; 1.7; 1.3; 1.6; 1.5

### Advanced Economies: Components of Real GDP (Table A3)
- Private Consumer Expenditure, Advanced Economies (annual percent change): 1.8; 1.7; 1.1; 0.9; 1.2; 1.8; 2.5; 2.2; 2.2; 2.0; 1.6; 1.5
- Public Consumption, Advanced Economies (annual percent change): 2.1; 0.8; –0.6; –0.1; –0.1; 0.5; 1.7; 1.9; 0.7; 1.6; 1.6; 1.4
- Gross Fixed Capital Formation, Advanced Economies (annual percent change): 0.5; 2.8; 3.2; 2.6; 1.7; 3.5; 3.2; 2.0; 3.8; 3.1; 2.5; 2.4
- Final Domestic Demand, Advanced Economies (annual percent change): 1.6; 1.8; 1.3; 1.1; 1.1; 2.0; 2.5; 2.1; 2.3; 2.1; 1.9; 1.7
- Stock Building, Advanced Economies (changes as percent of GDP in the preceding period): 0.0; 0.0; 0.2; –0.2; 0.0; 0.1; 0.1; –0.3; 0.0; 0.1; 0.1; 0.1
- Foreign Balance, Advanced Economies (changes as percent of GDP in the preceding period): 0.1; 0.0; 0.3; 0.4; 0.3; 0.0; –0.3; –0.2; 0.1; 0.0; –0.1; 0.0

### Emerging Market and Developing Economies: Real GDP (Table A4)
- Commonwealth of Independent States (aggregate, annual percent change): 5.5; 5.3; 3.6; 2.5; 1.0; –1.9; 0.8; 2.4; 2.8; 2.2; 2.3; 2.4
  - Russia: 4.8; 5.1; 3.7; 1.8; 0.7; –2.5; 0.3; 1.6; 2.3; 1.6; 1.7; 1.6
  - Uzbekistan: 6.9; 8.3; 8.2; 8.0; 8.0; 7.9; 7.9; 8.0; 8.9; 5.0; 5.0; 5.5
- Emerging and Developing Asia (annual percent change): 8.4; 7.9; 7.0; 6.9; 6.8; 6.8; 6.7; 6.6; 6.4; 6.3; 6.3; 6.1
  - China: 10.5; 9.5; 7.9; 7.8; 7.3; 6.9; 6.7; 6.8; 6.6; 6.3; 6.1; 5.5
  - India: 7.5; 6.6; 5.5; 6.4; 7.4; 8.0; 8.2; 7.2; 7.2; 7.1; 7.3; 7.5; 7.7
  - Vietnam: 6.8; 6.2; 5.2; 5.4; 6.0; 6.7; 6.2; 6.8; 7.1; 6.5; 6.5; 6.5
- Emerging and Developing Europe (annual percent change): 3.9; 6.7; 2.6; 4.9; 3.9; 4.8; 3.3; 3.6; 3.6; 0.8; 2.8; 3.1
  - Turkey: 4.0; 11.1; 4.8; 8.5; 5.2; 6.1; 3.2; 7.4; 2.6; –2.5; 2.5; 3.5
- Latin America and the Caribbean (annual percent change): 3.2; 4.6; 2.9; 2.9; 1.3; 0.3; –0.6; 1.2; 1.0; 1.4; 2.4; 2.8
  - Brazil: 3.7; 4.0; 1.9; 3.0; 0.5; –3.5; –3.3; 1.1; 1.1; 2.1; 2.1; 2.2
  - Guyana: 2.4; 5.4; 5.0; 5.0; 3.9; 3.1; 3.4; 2.1; 3.4; 3.8; 29.6; 17.9
  - Venezuela: 3.1; 4.2; 5.6; 1.3; –3.9; –6.2; –17.0; –15.7; –18.0; –25.0; –10.0; –1.5
- Middle East, North Africa, Afghanistan, and Pakistan (annual percent change): 5.1; 4.4; 4.8; 2.6; 2.9; 2.6; 5.2; 2.2; 1.8; 1.5; 3.2; 2.8
  - Saudi Arabia: 3.4; 10.0; 5.4; 2.7; 3.7; 4.1; 1.7; –0.7; 2.2; 1.8; 2.1; 2.3
  - Iran: 4.7; 3.1; –7.7; –0.3; 3.2; –1.6; 12.5; 3.7; –3.9; –6.0; 0.2; 1.1
  - Libya: 4.1; –66.7; 124.7; –36.8; –53.0; –13.0; –7.4; 64.0; 17.9; 4.3; 1.4; 1.5

*Source: tablea - Section 1 (STATISTICAL APPENDIX), International Monetary Fund | April 2019*

### Section 2

### tablea - Section 2

### Sub-Saharan Africa — Real GDP (Annual percent change)
- Regional line: 5.9, 5.3, 4.7, 5.2, 5.1, 3.2, 1.4, 2.9, 3.0, 3.5, 3.7, 4.0
- Selected country lines (annual percent change):
  - Angola: 8.8, 3.5, 8.5, 5.0, 4.8, 0.9, –2.6, –0.2, –1.7, 0.4, 2.9, 3.9
  - Nigeria: 8.9, 4.9, 4.3, 5.4, 6.3, 2.7, –1.6, 0.8, 1.9, 2.1, 2.5, 2.6
  - South Africa: 3.5, 3.3, 2.2, 2.5, 1.8, 1.2, 0.4, 1.4, 0.8, 1.2, 1.5, 1.8
  - Ethiopia: 8.5, 11.4, 8.7, 9.9, 10.3, 10.4, 8.0, 10.1, 7.7, 7.7, 7.5, 7.0
  - Zimbabwe: 8, –3.9, 14.2, 16.7, 2.0, 2.4, 1.8, 0.7, 4.7, 3.4, –5.2, 3.3, 4.0
  - South Sudan: . . .. . .–52.4, 29.3, 2.9, –0.2, –16.7, –5.5, –1.2, 8.8, 5.2, 5.0
  - Mozambique: 8.2, 7.1, 7.2, 7.1, 7.4, 6.6, 3.8, 3.7, 3.3, 4.0, 4.0, 11.7

### Emerging Market and Developing Economies — Consumer Prices (Annual percent change, averages / projections)
- Aggregate Emerging Market and Developing Economies (annual averages / projections): 6.6, 7.1, 5.8, 5.5, 4.7, 4.7, 4.2, 4.3, 4.8, 4.9, 4.7, 4.2
- Regional groups (selected lines, annual averages / projections):
  - Commonwealth of Independent States: 12.1, 9.8, 6.2, 6.5, 8.1, 15.5, 8.3, 5.5, 4.5, 5.7, 5.0, 4.3
  - Emerging and Developing Asia: 4.3, 6.5, 4.6, 4.6, 3.4, 2.7, 2.8, 2.4, 2.6, 2.8, 3.1, 3.3
  - Latin America and the Caribbean: 5.8, 5.2, 4.6, 4.6, 4.9, 5.5, 5.6, 6.0, 6.2, 6.5, 5.1, 3.6
  - Middle East, North Africa, Afghanistan, and Pakistan: 7.1, 9.3, 9.8, 9.2, 6.7, 5.4, 4.7, 6.4, 10.4, 9.7, 9.3, 7.8
  - Sub-Saharan Africa: 9.9, 9.3, 9.2, 6.6, 6.4, 7.0, 11.2, 11.0, 8.5, 8.1, 7.4, 6.6
- Analytical groups (selected):
  - Fuel exporters: 9.7, 8.6, 8.0, 8.1, 6.4, 8.6, 6.9, 5.4, 7.2, 7.6, 7.2, 6.5
  - Nonfuel exporters: 5.7, 6.7, 5.3, 4.9, 4.2, 3.8, 3.7, 4.0, 4.3, 4.4, 4.2, 3.9
  - Primary products subset: 6.5, 6.8, 7.0, 6.5, 7.1, 5.2, 6.4, 11.2, 13.6, 15.0, 10.7, 6.7
- Memorandum — Median Inflation Rate:
  - Advanced Economies: 2.2, 3.2, 2.6, 1.4, 0.7, 0.1, 0.6, 1.6, 1.9, 1.6, 1.7, 2.0
  - Emerging Market and Developing Economies: 5.1, 5.4, 4.5, 3.8, 3.1, 2.7, 2.7, 3.3, 3.1, 3.1, 3.2, 3.0

### Advanced Economies — Consumer Prices (Annual percent change, selected lines)
- Advanced Economies aggregate (annual averages / projections): 2.0, 2.7, 2.0, 1.4, 1.4, 0.3, 0.8, 1.7, 2.0, 1.6, 2.1, 2.0
- United States (annual averages / projections): 2.4, 3.1, 2.1, 1.5, 1.9, 1.1, 1.1, 1.9, 2.3, 1.8, 2.1, 2.1

### Notable country-specific consumer price points (end of period or averages as presented)
- Russia (CIS): 12.5, 8.4, 5.1, 6.8, 7.8, 15.5, 7.1, 3.7, 2.9, 5.0, 4.5, 4.0, 4.3, 4.2 (table presents series across periods)
- Turkey (Emerging and Developing Europe): 17.5, 6.5, 8.9, 7.5, 8.9, 7.7, 7.8, 11.1, 16.3, 17.5, 14.1, 12.4, 20.3, 15.5, 14.0
- Venezuela (Latin America and the Caribbean): 22.3, 27.1, 21.1, 38.5, 57.3, 111.8, 254.4, 493.6, 929,789.5, 10,000,000,000, 10,000,000, 10,000,000, 1,555,146, 10,000,000, 10,000,000 (as listed in the table)
- Iran (Middle East, North Africa, Afghanistan, and Pakistan): 14.7, 21.5, 30.6, 34.7, 15.6, 11.9, 9.1, 9.6, 31.2, 37.2, 31.0, 25.0, 51.1, 31.2, 30.0
- Sudan (Middle East, North Africa, Afghanistan, and Pakistan): 10.8, 18.1, 35.6, 36.5, 36.9, 16.9, 17.8, 32.4, 63.3, 49.6, 58.1, 72.8, 72.9, 56.2, 59.4

*Source: tablea - Section 2 (STATISTICAL APPENDIX, International Monetary Fund | April 2019).*

### Section 3

### Emerging Market and Developing Economies: Consumer Prices — Section 3

### Overview
- Movements in consumer prices are shown as annual averages.
- Data columns correspond to: 2001–10 average, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2022, 2024, 2018 projection, 2019 projection, 2020 projection (as presented in the table).
- Selected regional composite (Sub-Saharan Africa) sequence (annual percent change): 9.9, 9.3, 9.2, 6.6, 6.4, 7.0, 11.2, 11.0, 8.5, 8.1, 7.4, 6.6, 8.0, 8.0, 7.3

### Selected country inflation levels and projections (annual percent change)
- Angola: 42.4, 13.5, 10.3, 8.8, 7.3, 9.2, 30.7, 29.8, 19.6, 17.5, 11.1, 6.0, 18.6, 15.0, 9.0
- Benin: 3.0, 2.7, 6.7, 1.0, –1.1, 0.3, –0.8, 0.1, 1.0, 2.0, 2.0, 2.0, 2.0, 2.0, 1.9
- Botswana: 8.6, 8.5, 7.5, 5.9, 4.4, 3.1, 2.8, 3.3, 3.2, 3.6, 3.8, 3.9, 3.5, 3.7, 3.8
- Burkina Faso: 2.8, 2.8, 3.8, 0.5, –0.3, 0.9, –0.2, 0.4, 2.0, 2.0, 2.0, 2.0, 2.0, 2.0, 2.0
- Burundi: 8.9, 9.6, 18.2, 7.9, 4.4, 5.6, 5.5, 16.6, 1.2, 7.3, 9.0, 9.0, 5.3, 9.0, 9.0
- Cabo Verde: 2.4, 4.5, 2.5, 1.5, –0.2, 0.1, –1.4, 0.8, 1.3, 1.6, 2.0, 2.0, 1.5, 1.6, 2.0
- Cameroon: 2.6, 2.9, 2.4, 2.1, 1.9, 2.7, 0.9, 0.6, 0.9, 1.2, 1.5, 2.0, 1.1, 1.2, 1.5
- Central African Republic: 3.3, 1.2, 5.9, 6.6, 11.6, 4.5, 4.6, 4.6, 4.1, 3.0, 3.0, 2.5, 2.4, 2.5, 2.7
- Chad: 2.9, 1.9, 7.7, 0.2, 1.7, 6.8, –1.1, –0.9, 2.5, 2.9, 3.0, 2.4, 3.5, –1.2, 5.0
- Democratic Republic of the Congo: 36.8, 14.9, 0.9, 0.9, 1.2, 1.0, 18.2, 41.5, 29.3, 8.4, 6.7, 3.5, 7.2, 7.1, 7.0
- Côte d’Ivoire: 2.9, 4.9, 1.3, 2.6, 0.4, 1.2, 0.7, 0.8, 0.3, 2.0, 2.0, 2.0, 2.0, 1.1, 2.0
- Eritrea: 17.8, 3.9, 6.0, 6.5, 10.0, 9.0, 9.0, 9.0, 9.0, 9.0, 9.0, 9.0, 9.0, 9.0, 9.0
- Eswatini: 7.1, 6.1, 8.9, 5.6, 5.7, 5.0, 7.8, 6.2, 4.8, 5.6, 5.5, 5.5, 3.5, 2.5, 5.8
- Ethiopia: 11.1, 33.2, 24.1, 8.1, 7.4, 9.6, 6.6, 10.7, 13.8, 9.3, 8.0, 8.0, 10.4, 8.0, 8.0
- Ghana: 15.9, 7.7, 7.1, 11.7, 15.5, 17.2, 17.5, 12.4, 9.8, 9.1, 8.4, 6.0, 9.4, 8.7, 8.0
- Guinea: 16.0, 21.4, 15.2, 11.9, 9.7, 8.2, 8.2, 8.9, 9.7, 8.9, 8.3, 7.8, 9.6, 8.6, 8.1
- Kenya: 7.0, 14.0, 9.4, 5.7, 6.9, 6.6, 6.3, 6.8, 4.7, 4.4, 5.0, 5.0, 5.0, 5.7, 4.7, 5.0
- Lesotho: 7.0, 6.0, 5.5, 5.0, 4.6, 4.3, 6.2, 4.5, 5.2, 5.4, 5.6, 5.5, 5.2, 5.4, 5.6
- Liberia: 10.0, 8.5, 6.8, 7.6, 9.7, 7.7, 8.8, 12.4, 23.4, 22.3, 20.5, 13.5, 27.2, 21.8, 19.0
- Madagascar: 10.2, 9.5, 5.7, 5.7, 8.1, 6.1, 7.4, 6.7, 8.3, 7.3, 6.7, 6.3, 5.0, 6.1, 6.4, 6.0
- Malawi: 8.1, 7.6, 21.3, 28.3, 23.8, 21.9, 21.7, 11.5, 9.2, 8.7, 8.2, 5.0, 9.9, 8.3, 7.7
- Mali: 2.7, 3.1, 5.3, –2.4, 2.7, 1.4, –1.8, 1.8, 1.7, 1.7, 2.2, 2.2, 1.0, 2.2, 2.2
- Mauritius: 5.7, 6.5, 3.9, 3.5, 3.2, 1.3, 1.0, 3.7, 3.2, 2.1, 3.7, 3.4, 1.8, 4.1, 3.6
- Mozambique: 11.0, 11.2, 2.6, 4.3, 2.6, 3.6, 19.9, 15.1, 3.9, 4.2, 5.5, 5.5, 3.5, 5.5, 5.5
- Namibia: 7.1, 5.0, 6.7, 5.6, 5.3, 3.4, 6.7, 6.1, 4.3, 5.2, 5.5, 5.5, 5.1, 5.2, 5.4
- Niger: 2.5, 2.9, 0.5, 2.3, –0.9, 1.0, 0.2, 2.4, 3.0, 2.4, 2.1, 2.0, 1.6, 2.2, 2.0
- Nigeria: 12.9, 10.8, 12.2, 8.5, 8.0, 9.0, 15.7, 16.5, 12.1, 11.7, 11.7, 11.0, 11.4, 12.1, 11.7
- Rwanda: 7.9, 5.7, 6.3, 4.2, 1.8, 2.5, 5.7, 4.8, 1.4, 3.5, 5.0, 5.0, 1.1, 5.0, 5.0
- São Tomé and Príncipe: 16.2, 14.3, 10.6, 8.1, 7.0, 5.2, 5.4, 5.7, 7.9, 7.8, 5.5, 3.0, 9.0, 6.0, 5.0
- Senegal: 2.1, 3.4, 1.4, 0.7, –1.1, 0.1, 0.8, 1.3, 0.5, 1.3, 1.5, 1.5, 1.3, 1.9, 1.5
- Seychelles: 7.6, 2.6, 7.1, 4.3, 1.4, 4.0, –1.0, 2.9, 3.7, 3.4, 3.0, 3.0, 3.4, 3.9, 3.2
- Sierra Leone: 8.3, 6.8, 6.6, 5.5, 4.6, 6.7, 10.9, 18.2, 16.9, 15.8, 13.0, 8.2, 17.5, 14.0, 12.0
- South Africa: 5.9, 5.0, 5.6, 5.8, 6.1, 4.6, 6.3, 5.3, 4.6, 5.0, 5.4, 5.5, 4.9, 5.3, 5.5
- South Sudan: . . .. . . 45.1, 0.0, 1.7, 52.8, 379.8, 187.9, 83.5, 24.5, 16.9, 8.0, 40.1, 35.9, 10.8
- Tanzania: 6.6, 12.7, 16.0, 7.9, 6.1, 5.6, 5.2, 5.3, 5.3, 4.5, 4.5, 4.9, 3.3, 4.1, 4.9
- Togo: 3.0, 3.6, 2.6, 1.8, 0.2, 1.8, 0.9, –0.7, 0.7, 1.8, 2.0, 2.0, 2.0, 2.8, 1.4
- Uganda: 6.4, 15.0, 12.7, 4.9, 3.1, 5.4, 5.5, 5.6, 2.6, 3.6, 4.4, 5.0, 2.2, 4.0, 4.8
- Zambia: 15.4, 8.7, 6.6, 7.0, 7.8, 10.1, 17.9, 6.6, 7.0, 10.7, 12.0, 10.0, 8.0, 13.5, 10.5
- Zimbabwe: –5.6, 3.5, 3.7, 1.6, –0.2, –2.4, –1.6, 0.9, 10.6, 73.4, 9.4, 3.0, 42.1, 40.1, 4.8

### Notes and methodological points (as provided)
- Monthly year-over-year changes and, for several countries, on a quarterly basis.
- For many countries, inflation for the earlier years is measured on the basis of a retail price index. Consumer price index (CPI) inflation data with broader and more up-to-date coverage are typically used for more recent years.
- Georgia, Turkmenistan, and Ukraine, which are not members of the Commonwealth of Independent States, are included in the group for reasons of geography and similarity in economic structure.
- Starting in 2014, data exclude Crimea and Sevastopol.
- Based on Eurostat’s harmonized index of consumer prices.
- Excludes Venezuela but includes Argentina starting from 2017 onward.
- See country-specific notes for Argentina, Libya, and Venezuela in the “Country Notes” section of the Statistical Appendix.
- Data for 2011 exclude South Sudan after July 9. Data for 2012 and onward pertain to the current Sudan.
- Data for Syria are excluded for 2011 onward owing to the uncertain political situation.
- The Zimbabwe dollar ceased circulating in early 2009. Data are based on IMF staff estimates of price and exchange rate developments in US dollars. IMF staff estimates of US dollar values may differ from authorities’ estimates.

*Source: tablea - Section 3 (table of Emerging Market and Developing Economies: Consumer Prices).*

### Section 4

### tablea - Section 4

### Table A11. Advanced Economies: Balance on Current Account (Percent of GDP) — selected entries and projections
- Advanced Economies: –0.1 0.1 0.5 0.5 0.6 0.7 0.9 0.7 0.6 0.5 0.6
- United States: –2.9 –2.6 –2.1 –2.1 –2.2 –2.3 –2.3 –2.3 –2.4 –2.6 –2.1
- Euro Area: –0.1 1.4 2.3 2.5 2.9 3.2 3.2 3.0 2.9 2.8 2.2
- Germany: 6.1 7.0 6.7 7.5 8.9 8.5 8.0 7.4 7.1 6.8 6.2
- Japan: 2.1 1.0 0.9 0.8 3.1 4.0 4.0 3.5 3.5 3.6 3.5
- United Kingdom: –2.0 –3.8 –5.1 –4.9 –4.9 –5.2 –3.3 –3.9 –4.2 –4.0 –3.8
- Switzerland: 7.8 10.7 11.6 8.5 11.2 9.4 6.7 9.8 9.0 9.0 9.0
- Taiwan Province of China: 7.8 8.9 10.0 11.5 14.2 13.7 14.4 11.6 11.4 10.7 9.5
- Singapore: 21.6 16.9 15.8 17.9 17.0 17.5 16.0 17.7 17.6 17.1 15.0
- Norway: 12.4 12.5 10.3 10.5 7.9 4.0 5.6 8.1 7.4 7.2 6.8

### Table A12. Emerging Market and Developing Economies: Balance on Current Account (Percent of GDP) — selected entries and projections
- Emerging Market and Developing Economies: 4.5 3.7 2.0 2.2 –0.6 –1.0 –0.1 –0.3 –1.6 –2.0 –3.8
- Commonwealth of Independent States (group): 4.1 2.4 0.6 2.1 2.8 0.0 1.0 5.0 3.8 3.4 1.7
- Russia: 4.8 3.2 1.5 2.8 5.0 1.9 2.1 7.0 5.7 5.1 3.0
- China: 1.8 2.5 1.5 2.2 2.7 1.8 1.4 0.4 0.4 0.3 –0.2
- India: –4.3 –4.8 –1.7 –1.3 –1.0 –0.6 –1.8 –2.5 –2.5 –2.4 –2.5
- ASEAN-5 (Indonesia, Malaysia, Philippines, Thailand, Vietnam): 5.5 0.7 –0.4 2.3 3.4 4.7 4.6 1.2 1.2 0.9 –0.4
- Latin America and the Caribbean: –1.9 –2.5 –2.8 –3.1 –3.2 –1.9 –1.4 –1.9 –1.9 –2.0 –2.0
- Brazil: –2.9 –3.4 –3.2 –4.1 –3.0 –1.3 –0.4 –0.8 –1.7 –1.6 –1.9
- Mexico: –1.1 –1.6 –2.5 –1.9 –2.6 –2.3 –1.7 –1.8 –1.7 –1.9 –1.9
- Middle East, North Africa, Afghanistan, and Pakistan (group): 12.7 12.4 9.8 5.5 –4.0 –3.9 –0.6 2.3 –0.9 –0.7 –1.5
- Saudi Arabia: 23.6 22.4 18.1 9.8 –8.7 –3.7 1.4 8.3 3.5 2.8 –0.9
- Turkey: –8.9 –5.5 –6.7 –4.7 –3.7 –3.8 –5.6 –3.6 0.7 –0.4 –2.4
- Sub-Saharan Africa (group): –0.6 –1.7 –2.2 –3.6 –5.9 –3.7 –2.1 –2.6 –3.7 –3.7 –2.8
- South Africa: –2.2 –5.1 –5.8 –5.1 –4.6 –2.8 –2.4 –3.4 –3.4 –3.7 –3.7
- Nigeria: 2.6 3.8 3.7 0.2 –3.2 0.7 2.8 2.1 –0.4 –0.2 0.0

### Table A13. Summary of Financial Account Balances (Billions of US dollars) — selected entries and projections
- Advanced Economies — Financial Account Balance: –261.7 –155.0 224.6 354.6 332.3 434.0 439.9 355.9 311.9 282.2
  - Direct Investment, Net: 359.2 109.8 154.9 220.8 –27.9 –191.6 190.8 –37.3 83.7 125.2
  - Portfolio Investment, Net: –1,112.1 –246.0 –552.6 76.3 263.4 492.5 63.6 203.3 354.8 325.1
  - Change in Reserves: 349.8 273.2 153.1 134.9 226.8 178.6 244.3 124.4 97.4 98.0
- United States — Financial Account Balance: –526.0 –448.2 –400.3 –297.3 –325.9 –385.1 –331.9 –465.2 –507.1 –574.4
  - Direct Investment, Net: 173.1 126.9 104.7 135.7 –202.0 –181.5 24.4 –373.4 –178.8 –178.0
  - Portfolio Investment, Net: –226.3 –498.3 –30.7 –114.9 –53.5 –195.1 –212.5 –44.0 –274.0 –230.5
  - Change in Reserves: 15.9 4.5 –3.1 –3.6 –6.3 2.1 –1.7 2.9 0.0 0.0
- Euro Area — Financial Account Balance: –40.9 182.6 439.0 337.6 296.5 381.5 473.2 466.7 . . .. . .
  - Direct Investment, Net: 124.9 58.9 13.5 69.1 158.3 196.2 140.6 354.0 . . .. . .
  - Portfolio Investment, Net: –383.3 –177.0 –168.5 75.4 221.1 529.5 300.8 80.9 . . .. . .
- Germany — Financial Account Balance: 167.7 194.3 300.0 317.8 264.9 284.3 316.3 274.7 279.6 282.0
  - Direct Investment, Net: 10.3 33.6 26.0 95.3 74.8 33.2 47.1 59.3 48.9 55.2
  - Portfolio Investment, Net: –51.4 66.8 209.6 177.7 213.5 228.8 228.1 134.5 189.9 179.5
  - Change in Reserves: 3.9 1.7 1.2 –3.3 –2.4 1.9 –1.5 0.5 0.0 0.0
- France — Financial Account Balance: –78.6 –48.0 –19.2 –10.3 –0.8 –14.4 –36.0 –45.7 –7.9 1.8
  - Direct Investment, Net: 19.8 19.4 –13.9 47.2 7.9 28.1 8.3 45.1 47.9 52.6
  - Portfolio Investment, Net: –335.1 –50.6 –79.3 –23.8 43.2 23.8 22.4 18.6 67.9 83.9
  - Change in Reserves: –7.7 5.2 –1.9 1.0 8.0 2.5 –3.4 12.3 2.5 2.6
- Italy — Financial Account Balance: –79.9 –4.1 29.0 68.5 39.1 66.3 58.0 40.0 60.2 55.7
  - Direct Investment, Net: 17.2 6.8 0.9 3.1 2.7 –10.7 3.7 11.7 12.3 13.3
  - Portfolio Investment, Net: 25.6 –22.4 –5.4 5.5 108.2 176.5 98.8 138.9 93.2 24.2
  - Change in Reserves: 1.3 1.9 2.0 –1.3 0.6 –1.3 3.0 3.1 0.0 0.0

*Source: https://www.imf.org/-/media/files/publications/weo/2019/april/english/tablea.pdf*

### Section 5

### Table A13. Summary of Financial Account Balances (continued)

### Country and Group Financial Account Balances — Selected projections (2019–2020)
- Spain
  - Financial Account Balance: 15.3 (2019), 16.2 (2020)
  - Direct Investment, Net: 17.3 (2019), 18.4 (2020)
  - Portfolio Investment, Net: 19.3 (2019), 17.7 (2020)
  - Other Investment, Net: –22.0 (2019), –21.4 (2020)
  - Change in Reserves: 0.0 (2019), 0.0 (2020)
- Japan
  - Financial Account Balance: 183.8 (2019), 177.4 (2020)
  - Direct Investment, Net: 134.4 (2019), 144.6 (2020)
  - Portfolio Investment, Net: –53.5 (2019), 88.1 (2020)
  - Other Investment, Net: 7.7 (2019), –63.3 (2020)
  - Change in Reserves: 24.0 (2019), 11.0 (2020)
- United Kingdom
  - Financial Account Balance: –85.8 (2019), –120.0 (2020)
  - Direct Investment, Net: –14.6 (2019), –0.8 (2020)
  - Portfolio Investment, Net: –134.9 (2019), –361.7 (2020)
  - Other Investment, Net: –19.2 (2019), 248.1 (2020)
  - Change in Reserves: 24.8 (2019), 15.6 (2020)
- Canada
  - Financial Account Balance: –37.8 (2019), –53.7 (2020)
  - Direct Investment, Net: 10.8 (2019), –5.0 (2020)
  - Portfolio Investment, Net: –8.8 (2019), –33.0 (2020)
  - Other Investment, Net: –38.2 (2019), –15.7 (2020)
  - Change in Reserves: –1.5 (2019), 0.0 (2020)
- Other Advanced Economies (excludes G7 and euro area)
  - Financial Account Balance: 314.4 (2019), 332.0 (2020)
  - Direct Investment, Net: –49.3 (2019), –42.8 (2020)
  - Portfolio Investment, Net: 263.5 (2019), 203.7 (2020)
  - Other Investment, Net: 30.1 (2019), 105.3 (2020)
  - Change in Reserves: 53.4 (2019), 63.0 (2020)
- Emerging Market and Developing Economies (aggregate)
  - Financial Account Balance: –83.8 (2019), –106.0 (2020)
  - Direct Investment, Net: –381.0 (2019), –380.2 (2020)
  - Portfolio Investment, Net: –51.1 (2019), –33.4 (2020)
  - Other Investment, Net: 273.2 (2019), 185.5 (2020)
  - Change in Reserves: 74.6 (2019), 115.2 (2020)

### Regional Groups — Selected projections (2019–2020)
- Commonwealth of Independent States
  - Financial Account Balance: 84.8 (2019), 79.1 (2020)
  - Other Investment, Net: 46.5 (2019), 10.6 (2020)
  - Change in Reserves: 43.2 (2019), 57.1 (2020)
- Emerging and Developing Asia
  - Financial Account Balance: –95.5 (2019), –11.3 (2020)
  - Direct Investment, Net: –188.4 (2019), –187.9 (2020)
  - Portfolio Investment, Net: –27.1 (2019), –23.0 (2020)
  - Change in Reserves: 8.4 (2019), 61.5 (2020)
- Emerging and Developing Europe
  - Financial Account Balance: –4.5 (2019), –3.1 (2020)
  - Direct Investment, Net: –38.4 (2019), –27.5 (2020)
  - Other Investment, Net: 24.5 (2019), 17.2 (2020)
  - Change in Reserves: 6.0 (2019), –2.7 (2020)
- Latin America and the Caribbean
  - Financial Account Balance: –110.0 (2019), –102.4 (2020)
  - Direct Investment, Net: –141.2 (2019), –133.5 (2020)
  - Other Investment, Net: 26.1 (2019), 18.6 (2020)
  - Change in Reserves: 10.2 (2019), 2.8 (2020)
- Middle East, North Africa, Afghanistan, and Pakistan
  - Financial Account Balance: 66.3 (2019), –21.9 (2020)
  - Portfolio Investment, Net: –3.9 (2019), –11.4 (2020)
  - Other Investment, Net: 69.7 (2019), 0.2 (2020)
  - Change in Reserves: 3.8 (2019), –2.5 (2020)
- Sub-Saharan Africa
  - Financial Account Balance: –53.6 (2019), –52.2 (2020)
  - Direct Investment, Net: –24.2 (2019), –35.0 (2020)
  - Other Investment, Net: 1.1 (2019), –3.8 (2020)
  - Change in Reserves: 3.1 (2019), –1.1 (2020)

### Analytical Groups — By source of export earnings and external financing (selected projections)
- By Source of Export Earnings — Fuel exporters
  - Financial Account Balance: 246.9 (2019), 121.2 (2020)
  - Portfolio Investment, Net: 7.4 (2019), –10.1 (2020)
  - Other Investment, Net: 138.9 (2019), 153.3 (2020)
  - Change in Reserves: 54.2 (2019), 46.6 (2020)
- By Source of Export Earnings — Nonfuel exporters
  - Financial Account Balance: –330.7 (2019), –227.3 (2020)
  - Direct Investment, Net: –412.9 (2019), –399.2 (2020)
  - Change in Reserves: 20.4 (2019), 68.6 (2020)
- By External Financing Source — Net Debtor Economies
  - Financial Account Balance: –290.5 (2019), –269.7 (2020)
  - Direct Investment, Net: –300.6 (2019), –309.6 (2020)
  - Change in Reserves: –6.5 (2019), 39.1 (2020)
- Net Debtor Economies with arrears and/or rescheduling during 2013–17
  - Financial Account Balance: –36.9 (2019), –35.1 (2020)
  - Other Investment, Net: –0.9 (2019), –15.8 (2020)
  - Change in Reserves: 7.1 (2019), 6.7 (2020)

### Memorandum and World aggregates
- World (memorandum)
  - Financial Account Balance (annual series excerpt): –27.7 (2011), –44.5 (2012), 253.0 (2013), 373.6 (2014), 61.5 (2015), 20.3 (2016), 184.4 (2017), 272.1 (2018), 205.9 (2019), 123.5 (2020)

*Source: Table A13, Summary of Financial Account Balances (continued), Statistical Appendix, World Economic Outlook, April 2019.*

### Section 6

### Summary of World Medium-Term Baseline Scenario

### Projections — Real GDP and Growth
- World Real GDP: 3.9, 3.6, 3.8, 3.6, 3.3, 3.6, 3.6, 3.6
- Advanced Economies: 1.7, 1.9, 2.4, 2.2, 1.8, 1.7, 2.0, 1.6
- Emerging Market and Developing Economies: 6.2, 4.9, 4.8, 4.5, 4.4, 4.8, 4.6, 4.9

### Memorandum — Potential Output, Trade, and Prices
- Potential Output, Major Advanced Economies: 1.8, 1.4, 1.5, 1.6, 1.5, 1.5, 1.5, 1.4
- World Trade, Volume (data refer to trade in goods and services): 5.0, 3.9, 5.4, 3.8, 3.4, 3.9, 4.1, 3.8

### Memorandum — Imports (Percent)
- Imports, Advanced Economies: 3.5, 3.4, 4.3, 3.3, 3.0, 3.2, 3.4, 3.3
- Imports, Emerging Market and Developing Economies: 9.1, 5.0, 7.5, 5.6, 4.6, 5.3, 5.7, 5.1

### Memorandum — Exports (Percent)
- Exports, Advanced Economies: 3.9, 3.5, 4.4, 3.1, 2.7, 3.1, 3.3, 3.2
- Exports, Emerging Market and Developing Economies: 8.1, 4.5, 7.2, 4.3, 4.0, 4.8, 5.0, 4.5

### Memorandum — Terms of Trade (Percent)
- Terms of Trade, Advanced Economies: –0.1, 0.1, –0.2, –0.6, –0.3, 0.1, –0.2, 0.2
- Terms of Trade, Emerging Market and Developing Economies: 1.0, –0.2, 0.8, 1.3, –0.9, 0.0, 0.3, 0.1

### World Prices in US Dollars (Annual Percent Change)
- Manufactures: 1.9, –0.1, –0.3, 2.7, 1.0, 0.2, 0.9, 0.9
- Oil: 10.8, –2.9, 23.3, 29.4, –13.4, –0.2, 8.3, –0.5
- Nonfuel Primary Commodities: 8.9, –1.2, 6.4, 1.6, –0.2, 1.1, 2.2, 0.6

### Consumer Prices (Annual Percent Change)
- Advanced Economies: 2.0, 1.6, 1.7, 2.0, 1.6, 2.1, 1.8, 2.0
- Emerging Market and Developing Economies: 6.6, 5.1, 4.3, 4.8, 4.9, 4.7, 4.7, 4.4

### Interest Rates (Real)
- Real Six-Month LIBOR (London interbank offered rate on US dollar deposits minus percent change in US GDP deflator): 0.7, –0.3, –0.4, 0.2, 1.4, 1.8, 0.8, 0.9
- World Real Long-Term Interest Rate (GDP-weighted average of 10-year (or nearest-maturity) government bond rates for Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States): 1.9, 0.3, –0.2, –0.1, 0.4, 0.0, 0.0, 0.5

### Current Account Balances (Percent of GDP)
- Advanced Economies: –0.8, 0.5, 0.9, 0.7, 0.6, 0.5, 0.7, 0.5
- Emerging Market and Developing Economies: 2.5, 0.2, 0.0, –0.1, –0.4, –0.5, –0.3, –0.8

### External Debt and Debt Service (Percent of GDP)
- Total External Debt, Emerging Market and Developing Economies: 30.4, 28.6, 30.3, 29.9, 30.1, 29.3, 29.9, 27.6
- Debt Service, Emerging Market and Developing Economies: 9.1, 10.2, 9.8, 10.3, 10.4, 10.2, 10.2, 9.6

*Source: tablea - Section 6 (https://www.imf.org/-/media/files/publications/weo/2019/april/english/tablea.pdf).*

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_Source: https://www.imf.org/-/media/files/publications/weo/2019/april/english/tablea.pdf_