## tableb

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### Advanced Economies: Unemployment, Employment, and Real GDP per Capita (Table B1)
- Unemployment Rate, Advanced Economies: 6.5 6.5 8.0 8.0 7.9 7.3 6.7 6.2 5.6 5.1 5.0 4.9
- Unemployment Rate, United States: 6.1 5.6 8.9 8.1 7.4 6.2 5.3 4.9 4.4 3.9 3.8 3.7
- Unemployment Rate, Euro Area: 8.8 9.9 10.2 11.4 12.0 11.6 10.9 10.0 9.1 8.2 8.0 7.7
- Growth in Employment, Advanced Economies: 0.5 1.0 0.7 0.7 0.6 1.2 1.3 1.5 1.3 1.5 0.9 0.7
- Growth in Employment, United States: 0.2 1.3 0.6 1.9 1.0 1.7 1.7 1.7 1.3 1.6 1.2 0.9
- Growth in Real per Capita Output, Advanced Economies: 1.1 1.4 1.2 0.7 0.9 1.6 1.7 1.2 1.9 1.8 1.3 1.3
- Growth in Real per Capita Output, United States: 0.8 1.5 0.8 1.5 1.1 1.7 2.1 0.8 1.6 2.2 1.6 1.2

### Emerging Market and Developing Economies: Real GDP (Table B2)
- 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
- 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 7.1 7.3 7.5 7.7
- 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
- Output per Capita, 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

### Advanced Economies: Hourly Earnings, Productivity, and Unit Labor Costs in Manufacturing (Table B3)
- Hourly Earnings, Advanced Economies: 2.9 2.2 2.3 1.8 1.4 2.4 2.2 1.7 2.6 2.1 2.6 2.9
- Hourly Earnings, United States: 3.3 2.1 1.8 1.7 0.5 2.8 2.5 0.6 3.4 1.7 2.9 3.3
- Productivity (labor productivity), Advanced Economies: 2.8 1.0 1.7 –0.3 0.3 1.6 –0.6 1.5 1.8 0.9 1.4 2.1
- Unit Labor Costs, Advanced Economies: 0.3 1.2 0.7 2.2 1.1 0.9 2.8 0.2 0.8 1.2 1.1 0.8

### Emerging Market and Developing Economies: Consumer Prices (Table B4)
- Consumer Prices, Emerging Market and Developing Economies (annual percent change): 6.6 7.1 5.8 5.5 4.7 4.7 4.2 4.3 4.8 4.9 4.7 4.2
- Consumer Prices, China: 2.1 5.4 2.6 2.6 2.0 1.4 2.0 1.6 2.1 2.3 2.5 3.0
- Consumer Prices, India: 6.5 9.5 10.0 9.4 5.8 4.9 4.5 3.6 3.5 3.9 4.2 4.0
- Consumer Prices, 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
- Median, 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

### Summary of Fiscal and Financial Indicators (Table B5)
- Advanced Economies, Central Government Net Lending/Borrowing (percent of GDP): –5.4 –4.9 –3.3 –2.8 –2.4 –2.5 –2.3 –2.2 –2.4 –2.2
- United States, Central Government Net Lending/Borrowing: –8.9 –7.4 –4.1 –3.7 –3.1 –3.8 –3.9 –4.2 –4.5 –4.3
- Advanced Economies, General Government Net Lending/Borrowing: –6.1 –5.3 –3.5 –2.9 –2.4 –2.5 –2.1 –2.1 –2.4 –2.2
- United States, General Government Net Lending/Borrowing: –9.3 –7.6 –4.1 –3.7 –3.2 –3.9 –3.8 –4.3 –4.6 –4.4
- Advanced Economies, General Government Structural Balance (percent of potential GDP): –5.6 –4.4 –3.1 –2.5 –2.3 –2.4 –2.3 –2.5 –2.8 –2.7
- Long-Term Interest Rate, Advanced Economies (period averages): 3.1 2.4 2.3 2.1 1.6 1.3 1.6 1.9 2.1 2.3
- Emerging Market and Developing Economies, Central Government Net Lending/Borrowing (Weighted Average): –0.2 –0.4 –0.5 –1.1 –2.3 –2.4 –1.9 –1.3 –1.5 –1.3
- Emerging Market and Developing Economies, General Government Net Lending/Borrowing (Weighted Average): –0.9 –1.0 –1.7 –2.5 –4.4 –4.8 –4.2 –3.9 –4.7 –4.3
- Growth of Broad Money, Emerging Market and Developing Economies (Weighted Average): 16.3 14.4 14.1 12.3 13.0 11.2 11.8 18.7 16.3 13.8

### Advanced Economies: Government Balances and Net Lending/Borrowing Excluding Social Security Schemes (Table B6)
- General Government Net Lending/Borrowing, Advanced Economies: –6.1 –5.3 –3.5 –2.9 –2.4 –2.5 –2.1 –2.1 –2.4 –2.2
- United States, General Government Net Lending/Borrowing: –9.3 –7.6 –4.1 –3.7 –3.2 –3.9 –3.8 –4.3 –4.6 –4.4
- Euro Area, General Government Net Lending/Borrowing: –4.2 –3.7 –3.1 –2.5 –2.0 –1.6 –1.0 –0.6 –1.0 –0.9
- General Government Net Lending/Borrowing Excluding Social Security Schemes, United States: –6.1 –4.5 –1.7 –1.5 –1.0 –1.7 –1.8 –2.2 –2.5 –2.1
- Central Government Net Lending/Borrowing, Advanced Economies: –5.4 –4.9 –3.3 –2.8 –2.4 –2.5 –2.3 –2.2 –2.4 –2.2
- Central Government Net Lending/Borrowing, United Kingdom: –7.3 –7.6 –6.0 –5.0 –4.0 –2.4 –1.8 –1.0 –0.9 –0.8
- Memorandum, Major Advanced Economies, Central Government Net Lending/Borrowing: –6.7 –5.9 –3.9 –3.3 –2.9 –3.1 –3.0 –2.9 –3.2 –3.0

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### Advanced Economies: General Government Structural Balances (Table B7)
- Aggregate Advanced Economies structural balance (percent of potential GDP), projections:
  - 2011: –5.6
  - 2012: –4.4
  - 2013: –3.1
  - 2014: –2.5
  - 2015: –2.3
  - 2016: –2.4
  - 2017: –2.3
  - 2018: –2.5
  - 2019: –2.8
  - 2020: –2.7
- Selected country structural balances (percent of potential GDP), 2011–2020:
  - United States: –7.9, –6.1, –4.0, –3.4, –3.2, –3.9, –4.0, –4.7, –5.2, –5.0
  - Euro Area (aggregate): –3.9, –2.2, –1.3, –1.0, –0.9, –0.8, –0.7, –0.7, –0.9, –1.1
  - Germany: –1.3, –0.1, 0.2, 0.9, 0.8, 1.0, 0.9, 1.3, 0.7, 0.6
  - France: –5.2, –4.5, –3.5, –3.3, –3.0, –2.8, –2.6, –2.5, –2.5, –2.5
  - Italy: –4.1, –1.5, –0.6, –1.1, –0.7, –1.4, –1.6, –1.7, –2.1, –3.1
  - Japan: –8.0, –7.6, –7.5, –5.5, –4.3, –4.1, –3.4, –3.1, –2.8, –2.1
  - United Kingdom: –5.9, –5.9, –3.9, –4.6, –3.9, –2.8, –1.9, –1.4, –1.2, –1.0
  - Canada: –3.1, –1.9, –0.9, 0.3, 0.9, 0.8, 0.1, –0.2, –0.4, –0.7
  - Korea: 1.6, 1.7, 0.9, 0.6, 0.8, 2.0, 2.5, 2.9, 2.3, 1.7
  - Norway (excluding oil and Government Pension Fund—Global): –4.0, –4.4, –4.7, –5.5, –6.4, –7.3, –7.4, –6.8, –7.1, –7.2
- Memorandum: Major Advanced Economies structural balance:
  - 2011: –6.4
  - 2012: –5.2
  - 2013: –3.7
  - 2014: –3.0
  - 2015: –2.7
  - 2016: –3.0
  - 2017: –2.9
  - 2018: –3.1
  - 2019: –3.5
  - 2020: –3.3
- Notes and definitions:
  - Structural balance defined as actual net lending/borrowing minus effects of cyclical output from potential output, corrected for one-time and other factors.
  - Data are on a national income accounts basis for the table; coverage and exclusions vary by country as noted in the table footnotes (e.g., social security, one-time receipts, asset sales, accrual pension accounting).

### Emerging Market and Developing Economies: General Government Net Lending/Borrowing (Table B8 and B9)
- Aggregate Emerging Market and Developing Economies net lending/borrowing (percent of GDP), projections:
  - 2011: –0.9
  - 2012: –1.0
  - 2013: –1.7
  - 2014: –2.5
  - 2015: –4.4
  - 2016: –4.8
  - 2017: –4.2
  - 2018: –3.9
  - 2019: –4.7
  - 2020: –4.3
- Regional aggregates and selected country series (percent of GDP), 2011–2020:
  - Commonwealth of Independent States (aggregate): 1.7, 0.7, –0.7, –0.7, –3.3, –3.4, –1.7, 2.2, 0.7, 0.5
    - Russia: 1.4, 0.4, –1.2, –1.1, –3.4, –3.7, –1.5, 2.8, 1.0, 0.8
    - Excluding Russia: 2.6, 1.6, 0.7, 0.5, –3.2, –2.6, –2.3, 0.4, –0.2, –0.1
  - Emerging and Developing Asia (aggregate): –1.6, –1.6, –1.9, –2.0, –3.3, –4.0, –4.1, –4.7, –5.6, –5.1
    - China: –0.1, –0.3, –0.8, –0.9, –2.8, –3.7, –3.9, –4.8, –6.1, –5.5
    - India: –8.3, –7.5, –7.0, –7.1, –7.2, –7.1, –7.0, –6.7, –6.9, –6.6
    - Excluding China and India (aggregate): –1.2, –1.9, –2.1, –2.2, –2.4, –2.3, –2.4, –2.3, –2.3, –2.3
  - Latin America and the Caribbean (aggregate): –2.6, –2.8, –3.1, –4.7, –6.5, –5.9, –5.4, –4.7, –4.6, –4.1
    - Brazil: –2.5, –2.5, –3.0, –5.4, –10.2, –9.0, –7.9, –6.8, –7.3, –7.0
    - Mexico: –3.3, –3.7, –3.7, –4.5, –4.0, –2.8, –1.1, –2.3, –2.5, –2.4
  - Middle East, North Africa, Afghanistan, and Pakistan (aggregate): 3.6, 4.5, 2.3, –2.1, –8.7, –9.5, –5.5, –3.1, –4.7, –3.8
    - Middle East and North Africa (subset): 4.4, 5.5, 3.1, –1.8, –9.0, –10.1, –5.5, –2.8, –4.5, –3.4
  - Sub-Saharan Africa (aggregate): –1.2, –1.8, –3.1, –3.7, –4.4, –4.5, –4.7, –3.7, –4.0, –3.8
    - Excluding Nigeria and South Africa: 0.4, –1.6, –3.1, –4.5, –4.8, –4.9, –4.5, –3.1, –3.0, –2.9
- Analytical groups:
  - By source of export earnings:
    - Fuel exporters: 3.6, 3.5, 1.5, –1.4, –6.7, –7.6, –4.5, –0.9, –2.5, –1.9
    - Nonfuel exporters: –2.2, –2.3, –2.5, –2.8, –3.9, –4.2, –4.2, –4.4, –5.1, –4.8
  - By external financing source:
    - Net Debtor Economies: –3.0, –3.2, –3.5, –4.0, –4.9, –4.7, –4.4, –4.0, –4.2, –4.0
    - Economies with Arrears and/or Rescheduling during 2013–17: –4.7, –6.1, –7.6, –7.5, –7.6, –8.2, –6.2, –5.2, –4.7, –3.6
- Median Emerging Market and Developing Economies net lending/borrowing:
  - 2011: –2.5
  - 2012: –2.4
  - 2013: –2.8
  - 2014: –3.4
  - 2015: –3.5
  - 2016: –3.7
  - 2017: –2.9
  - 2018: –2.9
  - 2019: –2.7
  - 2020: –2.7

### Emerging Market and Developing Economies: General Government Overall Fiscal Balance (selected series from Table B8)
- Selected country overall fiscal balances (percent of GDP), 2011–2020:
  - Brazil: –3.4, –3.8, –3.6, –6.3, –10.0, –7.2, –7.1, –4.9, –7.1, –6.8
  - Indonesia: –0.8, –1.6, –2.3, –2.2, –2.6, –2.5, –2.5, –1.8, –1.8, –1.8
  - Thailand: –0.3, –1.3, 0.0, –1.1, –0.2, 0.2, –1.3, –0.6, –0.4, –0.9
  - Colombia: 2.0, 0.1, –0.9, –1.8, –3.4, –2.4, –2.6, –2.2, –2.6, –1.0
  - Malaysia: –3.6, –3.1, –3.5, –2.7, –2.6, –2.6, –2.4, –3.6, –3.0, –2.5
  - Philippines: –0.7, –0.8, –0.1, 0.6, 0.4, –0.5, –0.3, –1.0, –1.3, –1.4
  - Vietnam: –1.7, –7.3, –7.9, –7.1, –6.2, –5.2, –5.3, –4.9, –4.8, –4.5
  - Peru: 2.0, 2.1, 0.7, –0.2, –2.1, –2.3, –2.9, –2.1, –1.9, –1.3
  - Chile: 1.4, 0.7, –0.5, –1.5, –2.1, –2.7, –2.6, –1.5, –1.8, –1.5
- Note: Overall fiscal balance series include net lending/borrowing including policy lending (transactions in financial assets deemed for public policy).

### Country-level highlights from Table B9 (selected entries)
- Timor-Leste: –4.7, –6.7, –3.5, –13.4, –17.0, –35.1, –18.7, –17.3, –22.7, –28.8
- Venezuela (note methodological change starting 2010): –8.2, –10.4, –11.3, –15.6, –10.7, –10.8, –23.0, –29.9, –29.8, –30.1
- Kuwait: 33.3, 32.4, 34.1, 22.4, 5.6, 0.3, 6.6, 11.4, 9.5, 7.6
- Libya: –17.2, 28.6, –5.1, –73.8, –131.0, –113.3, –43.0, –7.4, –10.9, –14.9
- Brunei Darussalam: 25.6, 15.8, 13.0, 3.6, –14.5, –21.7, –10.6, –8.4, –11.7, –9.4
- India: –8.3, –7.5, –7.0, –7.1, –7.2, –7.1, –7.0, –6.7, –6.9, –6.6
- China: –0.1, –0.3, –0.8, –0.9, –2.8, –3.7, –3.9, –4.8, –6.1, –5.5
- South Africa: –4.1, –4.4, –4.3, –4.3, –4.8, –4.1, –4.4, –4.4, –5.1, –5.1
- Nigeria: 0.4, 0.2, –2.3, –2.1, –3.5, –4.0, –5.4, –4.5, –5.1, –4.6

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### Exchange Rate Assumptions — US Dollar Nominal Exchange Rates (US Dollars per National Currency Unit)
- Euro: 1.391 1.286 1.328 1.329 1.110 1.107 1.129 1.181 1.144
- British Pound: 1.603 1.580 1.564 1.646 1.528 1.355 1.288 1.336 1.297

### Exchange Rate Assumptions — National Currency Units per US Dollar
- Japanese Yen: 79.807 79.790 97.596 105.945 121.044 108.793 112.166 110.423 107.767
- Canadian Dollar: 0.990 0.999 1.030 1.106 1.279 1.325 1.298 1.296 1.316
- Australian Dollar: 0.969 0.965 1.033 1.108 1.329 1.344 1.304 1.337 1.396

### Real Effective Exchange Rates (Index, 2005 = 100)
- United States: 86.6 90.4 90.4 95.5 112.2 113.0 115.4 111.9 114.7
- Euro Area: 104.5 98.3 102.9 102.4 90.7 91.2 92.5 95.7 94.3
- Japan: 118.4 117.2 94.7 85.8 81.6 92.8 86.3 85.1 85.9
- Korea: 76.2 82.6 93.7 106.5 119.6 118.7 123.1 124.9 125.0
- (Note: Defined as the ratio, in common currency, of the unit labor costs in the manufacturing sector to the weighted average of those of its advanced economy trading partners, using 2004–06 trade weights.)

### Emerging Market and Developing Economies: Broad Money Aggregates (Table B11)
- Emerging Market and Developing Economies (Projections):
  - 2011 16.3
  - 2012 14.4
  - 2013 14.1
  - 2014 12.3
  - 2015 13.0
  - 2016 11.2
  - 2017 11.8
  - 2018 18.7
  - 2019 16.3
  - 2020 13.8

### Advanced Economies: Export Volumes (Table B12)
- Export Volume (Advanced Economies):
  - Averages 2001–10: 3.9
  - 2011–20 average: 3.5
  - 2011 6.1
  - 2012 2.9
  - 2013 3.2
  - 2014 3.9
  - 2015 3.8
  - 2016 1.8
  - 2017 4.4
  - 2018 3.1
  - 2019 2.7 (projection)
  - 2020 3.1 (projection)

### Emerging Market and Developing Economies by Region: Total Trade in Goods (Table B13, B14)
- Exports (annual percent change): 14.1 (2001–10 average), 3.7 (2011–20 average), 26.0 (2011), 4.0 (2012), 2.5 (2013), –0.5 (2014), –15.8 (2015), –5.1 (2016), 13.7 (2017), 11.3 (2018), 1.7 (2019), 5.1 (2020 projection)
- Imports (annual percent change): 14.3 (2001–10 average), 4.5 (2011–20 average), 24.2 (2011), 4.2 (2012), 3.1 (2013), –0.1 (2014), –12.8 (2015), –4.2 (2016), 13.1 (2017), 11.9 (2018), 3.6 (2019), 5.7 (2020 projection)
- By source of export earnings — Fuel exports: 14.6 (2001–10 average), 0.2 (2011–20 average), 38.0 (2011), 4.2 (2012), –1.3 (2013), –6.8 (2014), –34.1 (2015), –12.0 (2016), 18.6 (2017), 18.4 (2018), –7.8 (2019), 3.2 (2020 projection)
- By source of export earnings — Nonfuel exports: 14.0 (2001–10 average), 4.9 (2011–20 average), 21.5 (2011), 3.9 (2012), 4.3 (2013), 2.3 (2014), –8.4 (2015), –3.2 (2016), 12.4 (2017), 9.3 (2018), 4.5 (2019), 5.6 (2020 projection)

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### Summary of Current Account Transactions (Table B15) — Selected series and projections (Billions of US dollars)
- Advanced Economies — Current Account Balance: –275.0 (2001–10 average), –239.8 (2005–12 average), 212.8 (2013), 238.8 (2014), 286.6 (2015), 328.0 (2016), 423.3 (2017), 371.9 (2018), 303.8 (2019 projection), 267.8 (2020 projection), 289.8 (2021–24 average projection)
- Advanced Economies — Trade Balance: –155.1 (2001–10 average), –154.7 (2005–12 average), 227.5 (2013), 263.3 (2014), 342.3 (2015), 394.3 (2016), 419.6 (2017), 333.9 (2018), 249.5 (2019 projection), 269.3 (2020 projection), 314.8 (2021–24 average)
- United States — Current Account Balance: –573.8 (2001–10 average), –577.5 (2005–12 average), –348.8 (2013), –365.2 (2014), –407.8 (2015), –432.9 (2016), –449.1 (2017), –468.8 (2018), –513.4 (2019 projection), –583.3 (2020 projection), –594.0 (2021–24 average)
- Euro Area — Current Account Balance: –12.2 (2001–10 average), –9.2 (2005–12 average), 300.7 (2013), 340.4 (2014), 342.6 (2015), 383.6 (2016), 410.6 (2017), 403.6 (2018), 394.8 (2019 projection), 399.6 (2020 projection), 381.1 (2021–24 average)
- Germany — Current Account Balance: 132.8 (2001–10 average), 201.7 (2005–12 average), 252.5 (2013), 291.0 (2014), 301.2 (2015), 297.5 (2016), 295.0 (2017), 294.3 (2018), 279.6 (2019 projection), 282.0 (2020 projection), 292.8 (2021–24 average)

### Summary of Current Account Transactions — Selected Country Highlights (Section 4)
- Spain — Current Account Balance: –76.5 (2001–10), –83.3 (2005–12), 20.7 (2013), 14.9 (2014), 13.9 (2015), 27.9 (2016), 24.3 (2017), 11.1 (2018), 11.8 (2019), 12.5 (2020), 13.5 (2021−24)
- Japan — Current Account Balance: 158.2 (2001–10), 156.9 (2005–12), 45.9 (2013), 36.8 (2014), 136.4 (2015), 194.9 (2016), 196.1 (2017), 174.1 (2018), 180.4 (2019), 196.6 (2020), 219.3 (2021−24)
- United Kingdom — Current Account Balance: –70.9 (2001–10), –86.2 (2005–12), –141.9 (2013), –149.6 (2014), –142.4 (2015), –139.3 (2016), –88.1 (2017), –109.1 (2018), –117.4 (2019), –115.9 (2020), –123.4 (2021−24)
- Canada — Current Account Balance: 1.5 (2001–10), –20.2 (2005–12), –59.4 (2013), –43.2 (2014), –55.1 (2015), –49.0 (2016), –46.3 (2017), –45.3 (2018), –53.7 (2019), –51.7 (2020), –53.4 (2021−24)

### Summary of Current Account Transactions — Regional Groups (selected)
- Emerging Market and Developing Economies — Current Account Balance: 342.9 (2001–10), 451.1 (2005–12), 173.5 (2013), 173.9 (2014), –57.0 (2015), –76.3 (2016), –9.5 (2017), –23.7 (2018), –149.4 (2019), –200.9 (2020), –375.9 (2021−24)
- Other Advanced Economies — Current Account Balance: 169.1 (2001–10), 215.5 (2005–12), 343.7 (2013), 357.0 (2014), 360.9 (2015), 344.4 (2016), 324.8 (2017), 345.7 (2018), 338.3 (2019), 344.5 (2020), 373.9 (2021−24)
- Commonwealth of Independent States — Current Account Balance: 62.5 (2001–10), 80.4 (2005–12), 17.9 (2013), 57.6 (2014), 53.0 (2015), 0.6 (2016), 20.4 (2017), 109.3 (2018), 83.6 (2019), 78.0 (2020), 56.4 (2021−24)

### Analytical Groups — By Source of Export Earnings (selected)
- Fuel economies — Current Account Balance: 274.4 (2001–10), 437.3 (2005–12), 465.4 (2013), 311.8 (2014), –78.0 (2015), –73.7 (2016), 80.5 (2017), 274.5 (2018), 114.7 (2019), 112.3 (2020), 72.4 (2021−24)
- Nonfuel economies — Current Account Balance: 69.0 (2001–10), 14.3 (2005–12), –292.0 (2013), –137.9 (2014), 21.0 (2015), –2.6 (2016), –90.0 (2017), –298.2 (2018), –264.1 (2019), –313.3 (2020), –448.3 (2021−24)

### Analytical Groups — By External Financing Source (selected)
- Net Debtor Economies — Current Account Balance: –89.7 (2001–10), –195.0 (2005–12), –384.5 (2013), –354.4 (2014), –306.3 (2015), –212.3 (2016), –221.7 (2017), –294.7 (2018), –305.6 (2019), –327.0 (2020), –407.9 (2021−24)
- Economies with Arrears and/or Rescheduling during 2013–17 — Current Account Balance: –8.9 (2001–10), –23.6 (2005–12), –53.9 (2013), –39.2 (2014), –49.3 (2015), –50.2 (2016), –41.5 (2017), –37.8 (2018), –39.5 (2019), –41.2 (2020), –45.0 (2021−24)

### Memorandum — World Current Account Balance (selected)
- World — Current Account Balance: 67.9 (2001–10), 211.3 (2005–12), 386.3 (2013), 412.7 (2014), 229.5 (2015), 251.7 (2016), 413.8 (2017), 348.2 (2018), 154.5 (2019), 66.9 (2020), –86.2 (2021−24)

### External Debt and Debt-Service — Emerging Market and Developing Economies (selected)
- External Debt (Billions of US dollars) — Total: 6,814.1 (2011), 7,532.0 (2012), 8,411.0 (2013), 8,852.8 (2014), 8,359.8 (2015), 8,723.1 (2016), 9,607.4 (2017), 10,057.9 (2018), 10,542.3 (2019), 11,030.3 (2020)
- Debt-Service Payments (Billions of US dollars): 2,193.6 (2011), 2,608.8 (2012), 3,004.4 (2013), 3,427.6 (2014), 3,524.1 (2015), 3,073.7 (2016), 3,093.5 (2017), 3,430.5 (2018), 3,622.9 (2019), 3,820.8 (2020)
- External Debt (Percent of exports of goods and services): 82.6 (2011), 87.7 (2012), 95.1 (2013), 99.7 (2014), 109.2 (2015), 118.9 (2016), 116.0 (2017), 109.5 (2018), 112.3 (2019), 111.6 (2020)
- Debt-Service Payments (Percent of exports of goods and services): 27.0 (2011), 30.8 (2012), 34.4 (2013), 39.0 (2014), 46.4 (2015), 42.1 (2016), 37.6 (2017), 37.5 (2018), 38.7 (2019), 38.7 (2020)

### External Debt by Maturity — Emerging Market and Developing Economies (selected)
- Total Debt (Billions of US dollars): 6,814.1 (2011), 7,532.0 (2012), 8,411.0 (2013), 8,852.8 (2014), 8,359.8 (2015), 8,723.1 (2016), 9,607.4 (2017), 10,057.9 (2018), 10,542.3 (2019), 11,030.3 (2020)
- Short Term (Billions of US dollars): 1,891.8 (2011), 2,137.2 (2012), 2,553.1 (2013), 2,669.6 (2014), 2,164.7 (2015), 2,178.5 (2016), 2,512.1 (2017), 2,681.3 (2018), 2,805.2 (2019), 2,955.5 (2020)
- Long Term (Billions of US dollars): 4,922.3 (2011), 5,394.8 (2012), 5,857.9 (2013), 6,183.2 (2014), 6,195.1 (2015), 6,544.6 (2016), 7,095.3 (2017), 7,376.6 (2018), 7,737.0 (2019), 8,074.8 (2020)

---

### External Debt by Maturity — Emerging Market and Developing Economies by Analytical Criteria (Section 5)
- Years covered: 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (Projections)

- By Source of Export Earnings — Fuel
  - Total Debt: 1,466.4, 1,571.8, 1,700.3, 1,642.8, 1,633.2, 1,833.7, 1,928.6, 2,006.6, 2,077.4, 2,134.1
  - Short Term: 246.2, 283.9, 273.9, 280.7, 281.9, 322.4, 300.0, 325.0, 334.3, 343.3
  - Long Term: 1,220.2, 1,287.9, 1,426.4, 1,362.1, 1,351.3, 1,511.3, 1,628.6, 1,681.5, 1,743.1, 1,790.8

- By Source of Export Earnings — Nonfuel
  - Total Debt: 5,347.7, 5,960.1, 6,710.7, 7,210.0, 6,726.6, 6,889.4, 7,678.8, 8,051.4, 8,464.9, 8,896.2
  - Short Term: 1,645.6, 1,853.3, 2,279.3, 2,388.9, 1,882.8, 1,856.1, 2,212.1, 2,356.3, 2,471.0, 2,612.2
  - Long Term: 3,702.1, 4,106.8, 4,431.5, 4,821.2, 4,843.8, 5,033.3, 5,466.7, 5,695.1, 5,993.9, 6,284.0

- By Source of Export Earnings — Nonfuel Primary Products
  - Total Debt: 586.6, 687.6, 719.8, 774.8, 794.1, 841.0, 940.3, 986.6, 1,016.9, 1,049.6
  - Short Term: 124.4, 148.3, 142.7, 141.7, 156.1, 129.3, 157.8, 183.4, 184.2, 188.0
  - Long Term: 462.2, 539.3, 577.0, 633.1, 638.0, 711.7, 782.5, 803.2, 832.8, 861.6

- By External Financing Source — Net Debtor Economies
  - Total Debt: 4,200.1, 4,695.6, 5,105.9, 5,368.8, 5,307.2, 5,429.9, 5,863.5, 6,096.3, 6,387.9, 6,692.9
  - Short Term: 809.2, 909.4, 988.5, 996.0, 891.5, 904.0, 1,007.8, 1,063.6, 1,107.7, 1,176.1
  - Long Term: 3,390.9, 3,786.2, 4,117.4, 4,372.9, 4,415.7, 4,525.9, 4,855.7, 5,032.7, 5,280.2, 5,516.9

- Net Debtor Economies by Debt-Servicing Experience — Economies with Arrears and/or Rescheduling during 2013–17
  - Total Debt: 302.0, 317.7, 353.9, 363.6, 375.4, 396.1, 441.7, 466.7, 504.6, 519.5
  - Short Term: 33.7, 35.3, 44.1, 33.8, 31.9, 38.9, 48.8, 51.4, 56.1, 63.7
  - Long Term: 268.4, 282.4, 309.8, 329.7, 343.5, 357.3, 392.9, 415.3, 448.5, 455.9

- Other Groups — Heavily Indebted Poor Countries
  - Total Debt: 167.1, 175.5, 208.4, 229.8, 264.3, 279.1, 306.0, 319.9, 348.1, 370.3
  - Short Term: 1.7, 1.9, 1.9, 2.6, 3.1, 3.4, 3.3, 3.0, 3.1, 3.5
  - Long Term: 165.4, 173.7, 206.5, 227.2, 261.1, 275.7, 302.7, 316.9, 345.0, 366.9

- Other Groups — Low-Income Developing Countries
  - Total Debt: 359.6, 389.9, 438.9, 494.0, 545.4, 577.4, 643.5, 688.9, 749.8, 806.6
  - Short Term: 21.5, 23.3, 25.2, 35.2, 39.0, 41.1, 52.4, 52.8, 57.4, 65.0
  - Long Term: 338.1, 366.5, 413.7, 458.8, 506.4, 536.3, 591.1, 636.1, 692.4, 741.5

### Ratio of External Debt to GDP (Percent of GDP)
- Emerging Market and Developing Economies (2011–2020 projections): 25.5, 26.7, 28.0, 28.5, 28.4, 29.8, 30.3, 29.9, 30.1, 29.3
- Regional Groups (2011–2020 projections) — selected highlights:
  - Commonwealth of Independent States: 32.7, 34.7, 37.2, 36.1, 47.1, 51.2, 44.0, 41.0, 41.9, 41.0
  - Emerging and Developing Asia: 18.5, 18.9, 20.6, 21.3, 17.8, 17.8, 19.0, 18.6, 18.6, 18.3
  - Emerging and Developing Europe: 58.3, 63.4, 62.7, 59.2, 61.0, 60.2, 63.4, 61.2, 61.4, 57.1
  - Latin America and the Caribbean: 25.5, 28.8, 31.0, 34.5, 39.0, 42.2, 41.0, 45.3, 46.2, 45.4
  - Middle East, North Africa, Afghanistan, and Pakistan: 27.5, 26.8, 26.9, 27.6, 33.5, 39.4, 42.3, 42.2, 44.4, 43.6
  - Sub-Saharan Africa: 21.6, 23.0, 23.7, 25.4, 29.2, 34.3, 36.1, 35.7, 37.5, 37.0
- Analytical Groups (2011–2020 projections):
  - By Source of Export Earnings — Fuel: 25.2, 25.9, 27.2, 26.9, 33.2, 39.8, 38.9, 38.1, 39.4, 38.6
  - By Source of Export Earnings — Nonfuel: 25.6, 26.9, 28.2, 29.0, 27.4, 27.9, 28.7, 28.4, 28.5, 27.6
  - Of Which, Primary Products: 34.0, 37.0, 37.3, 41.3, 42.2, 47.4, 47.9, 52.2, 54.3, 52.7
  - By External Financing Source — Net Debtor Economies: 31.8, 34.7, 36.1, 37.0, 40.2, 40.7, 40.5, 41.1, 41.2, 40.1
  - Net Debtor Economies by Debt-Servicing Experience — Economies with Arrears and/or Rescheduling during 2013–17: 39.0, 38.2, 40.1, 41.2, 43.4, 46.5, 56.1, 56.5, 56.0, 53.4
  - Heavily Indebted Poor Countries: 31.0, 31.2, 33.6, 35.1, 42.0, 43.5, 44.9, 44.9, 46.4, 46.2
  - Low-Income Developing Countries: 24.3, 24.3, 24.8, 25.7, 29.5, 31.9, 34.5, 34.8, 35.3, 34.8
- (Note: "Debt at the end of the year in percent of GDP in the year indicated." Georgia, Turkmenistan, and Ukraine are included in the Commonwealth of Independent States group for geography/economic structure.)

### Debt-Service Ratios (Percent of exports of goods and services)
- Interest Payments — Emerging Market and Developing Economies: 2.8, 3.2, 3.5, 3.8, 4.5, 4.6, 4.5, 4.7, 5.1, 5.3
  - Commonwealth of Independent States: 3.6, 3.9, 4.5, 4.6, 5.8, 6.4, 4.4, 4.3, 4.9, 5.6
  - Emerging and Developing Asia: 2.2, 2.5, 2.8, 3.2, 3.3, 3.0, 3.4, 3.6, 3.8, 3.9
  - Latin America and the Caribbean: 4.3, 4.8, 5.0, 5.4, 6.4, 6.8, 6.2, 6.0, 6.1, 6.1
  - By Source of Export Earnings — Fuel: 1.8, 1.9, 2.1, 2.2, 3.1, 3.9, 3.3, 3.5, 4.2, 4.7
  - By Source of Export Earnings — Nonfuel: 3.3, 3.8, 4.1, 4.4, 4.8, 4.8, 4.8, 5.0, 5.3, 5.5
  - Net Debtor Economies: 3.4, 4.0, 4.3, 4.5, 5.2, 5.4, 5.5, 5.7, 6.1, 6.3
  - Economies with Arrears/Rescheduling 2013–17: 2.0, 2.2, 2.6, 3.1, 4.2, 5.1, 5.1, 5.3, 6.0, 6.2

- Amortization — Emerging Market and Developing Economies: 24.0, 27.3, 30.6, 34.9, 41.8, 37.4, 33.0, 32.7, 33.6, 33.4
  - Commonwealth of Independent States: 24.2, 26.4, 35.0, 36.8, 37.5, 33.1, 28.8, 24.9, 24.1, 23.4
  - Emerging and Developing Asia: 25.0, 31.7, 34.2, 42.5, 49.1, 39.1, 34.8, 38.2, 38.6, 38.9
  - Emerging and Developing Europe: 54.5, 57.1, 58.6, 56.7, 56.7, 58.3, 52.2, 44.6, 40.5, 35.5
  - By Source of Export Earnings — Fuel: 11.2, 10.7, 14.6, 14.6, 17.5, 17.4, 15.0, 13.8, 15.4, 15.4
  - By Source of Export Earnings — Nonfuel: 29.3, 34.3, 36.9, 42.4, 48.4, 42.5, 37.7, 38.1, 38.1, 37.8
  - Net Debtor Economies: 27.4, 29.4, 32.3, 33.8, 38.6, 38.6, 34.2, 30.9, 30.5, 29.2
  - Economies with Arrears/Rescheduling 2013–17: 26.0, 32.9, 37.9, 37.7, 40.9, 42.4, 41.3, 38.0, 35.2, 34.8

---

### Emerging Market and Developing Economies — Medium-Term Baseline Scenario: Selected Economic Indicators
- World aggregate (Emerging Market and Developing Economies):
  - Real GDP: 6.2 (2001–10), 4.9 (2011–20), 4.8 (2017), 4.5 (2018), 4.4 (2019), 4.8 (2020), 4.6 (2017–2020), 4.9 (2021–24)
  - Export Volume1: 8.1, 4.5, 7.2, 4.3, 4.0, 4.8, 5.0, 4.5
  - Terms of Trade1: 1.0–0.2, 0.8, 1.3–0.9, 0.0, 0.3, 0.1
  - Import Volume1: 9.1, 5.0, 7.5, 5.6, 4.6, 5.3, 5.7, 5.1
- Regional examples (Real GDP):
  - Commonwealth of Independent States: 5.5 (2001–10), 2.1 (2011–20), 2.4 (2017), 2.8 (2018), 2.2 (2019), 2.3 (2020), 2.4 (2017–2020), 2.3 (2021–24)
  - Emerging and Developing Asia: 8.4, 6.8, 6.6, 6.4, 6.3, 6.3, 6.4, 6.2
  - Latin America and the Caribbean: 3.2, 1.7, 1.2, 1.0, 1.4, 2.4, 1.5, 2.8
  - Sub-Saharan Africa: 5.9, 3.8, 2.9, 3.0, 3.5, 3.7, 3.3, 3.9
- (1 Data refer to trade in goods and services.)
- (2 Georgia, Turkmenistan, and Ukraine are included in the Commonwealth of Independent States group for reasons of geography and similarity in economic structure.)

### Selected External Sector Indicators — Projections and Levels (Percent of exports of goods and services or US$ aggregates where indicated)
- Emerging Market and Developing Economies — Projections (2008, 2012, 2016, 2017, 2018, 2019, 2020, 2024):
  - Current Account Balance: 9.5, 3.7, –1.0, –0.1, –0.3, –1.6, –2.0, –3.8
  - Total External Debt: 73.6, 87.7, 118.9, 116.0, 109.5, 112.3, 111.6, 108.7
  - Debt-Service Payments3: 25.4, 30.8, 42.1, 37.6, 37.5, 38.7, 38.7, 36.8
  - Interest Payments3: 3.3, 3.2, 4.6, 4.5, 4.7, 5.1, 5.3, 4.9
  - Amortization: 21.9, 27.3, 37.4, 33.0, 32.7, 33.6, 33.4, 31.9
- Regional breakdowns (Total External Debt, Debt-Service Payments3, Interest Payments3, Amortization) — selected excerpts:
  - Commonwealth of Independent States — Total External Debt: 92.3, 108.8, 177.7, 149.1, 119.4, 124.9, 122.1, 114.9
  - Emerging and Developing Asia — Total External Debt: 45.0, 66.3, 78.5, 81.4, 79.0, 80.3, 81.0, 83.5
  - Emerging and Developing Europe — Total External Debt: 146.4, 172.1, 153.8, 150.2, 134.7, 127.5, 123.2, 108.5
  - Latin America and the Caribbean — Total External Debt: 102.4, 134.4, 203.6, 190.9, 188.7, 191.9, 189.9, 172.4
  - Middle East, North Africa, Afghanistan, and Pakistan — Total External Debt: 63.4, 54.3, 111.7, 109.5, 104.9, 117.7, 117.8, 123.0
  - Sub-Saharan Africa — Total External Debt: 60.0, 75.6, 157.4, 151.8, 141.5, 158.8, 159.2, 161.7

- Net Debtor Economies — Economies with Arrears and/or Rescheduling during 2013–17 (selected):
  - Current Account Balance: –10.4, –21.8, –28.3, –20.6, –16.4, –16.2, –15.6, –13.0
  - Total External Debt: 107.3, 126.5, 223.3, 219.3, 203.8, 207.9, 198.0, 176.8
  - Debt-Service Payments3: 27.2, 35.1, 47.6, 46.4, 43.4, 41.2, 41.0, 36.1
  - Interest Payments3: 2.1, 2.2, 5.1, 5.1, 5.3, 6.0, 6.2, 5.1
  - Amortization: 25.2, 32.9, 42.9, 42.4, 41.3, 38.0, 35.2, 30.9

(3 Interest payments and amortization on total debt. The projections incorporate the impact of exceptional-financing items. Excludes service payments to the IMF.)

*Source: tableb - Sections 1–5; WORLD ECONOMIC OUTLOOK: GROWTH SLOWDOWN, PRECARIOUS RECOVERY, April 2019 — summary tables and projections as provided in the source content.*

### Section 1

### tableb - Section 1

### Advanced Economies: Unemployment, Employment, and Real GDP per Capita (Table B1)
- Unemployment Rate, Advanced Economies: 6.5 6.5 8.0 8.0 7.9 7.3 6.7 6.2 5.6 5.1 5.0 4.9
- Unemployment Rate, United States: 6.1 5.6 8.9 8.1 7.4 6.2 5.3 4.9 4.4 3.9 3.8 3.7
- Unemployment Rate, Euro Area: 8.8 9.9 10.2 11.4 12.0 11.6 10.9 10.0 9.1 8.2 8.0 7.7
- Growth in Employment, Advanced Economies: 0.5 1.0 0.7 0.7 0.6 1.2 1.3 1.5 1.3 1.5 0.9 0.7
- Growth in Employment, United States: 0.2 1.3 0.6 1.9 1.0 1.7 1.7 1.7 1.3 1.6 1.2 0.9
- Growth in Real per Capita Output, Advanced Economies: 1.1 1.4 1.2 0.7 0.9 1.6 1.7 1.2 1.9 1.8 1.3 1.3
- Growth in Real per Capita Output, United States: 0.8 1.5 0.8 1.5 1.1 1.7 2.1 0.8 1.6 2.2 1.6 1.2

### Emerging Market and Developing Economies: Real GDP (Table B2)
- 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
- 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 7.1 7.3 7.5 7.7
- 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
- Output per Capita, 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

### Advanced Economies: Hourly Earnings, Productivity, and Unit Labor Costs in Manufacturing (Table B3)
- Hourly Earnings, Advanced Economies: 2.9 2.2 2.3 1.8 1.4 2.4 2.2 1.7 2.6 2.1 2.6 2.9
- Hourly Earnings, United States: 3.3 2.1 1.8 1.7 0.5 2.8 2.5 0.6 3.4 1.7 2.9 3.3
- Productivity (labor productivity), Advanced Economies: 2.8 1.0 1.7 –0.3 0.3 1.6 –0.6 1.5 1.8 0.9 1.4 2.1
- Unit Labor Costs, Advanced Economies: 0.3 1.2 0.7 2.2 1.1 0.9 2.8 0.2 0.8 1.2 1.1 0.8

### Emerging Market and Developing Economies: Consumer Prices (Table B4)
- Consumer Prices, Emerging Market and Developing Economies (annual percent change): 6.6 7.1 5.8 5.5 4.7 4.7 4.2 4.3 4.8 4.9 4.7 4.2
- Consumer Prices, China: 2.1 5.4 2.6 2.6 2.0 1.4 2.0 1.6 2.1 2.3 2.5 3.0
- Consumer Prices, India: 6.5 9.5 10.0 9.4 5.8 4.9 4.5 3.6 3.5 3.9 4.2 4.0
- Consumer Prices, 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
- Median, 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

### Summary of Fiscal and Financial Indicators (Table B5)
- Advanced Economies, Central Government Net Lending/Borrowing (percent of GDP): –5.4 –4.9 –3.3 –2.8 –2.4 –2.5 –2.3 –2.2 –2.4 –2.2
- United States, Central Government Net Lending/Borrowing: –8.9 –7.4 –4.1 –3.7 –3.1 –3.8 –3.9 –4.2 –4.5 –4.3
- Advanced Economies, General Government Net Lending/Borrowing: –6.1 –5.3 –3.5 –2.9 –2.4 –2.5 –2.1 –2.1 –2.4 –2.2
- United States, General Government Net Lending/Borrowing: –9.3 –7.6 –4.1 –3.7 –3.2 –3.9 –3.8 –4.3 –4.6 –4.4
- Advanced Economies, General Government Structural Balance (percent of potential GDP): –5.6 –4.4 –3.1 –2.5 –2.3 –2.4 –2.3 –2.5 –2.8 –2.7
- Long-Term Interest Rate, Advanced Economies (period averages): 3.1 2.4 2.3 2.1 1.6 1.3 1.6 1.9 2.1 2.3
- Emerging Market and Developing Economies, Central Government Net Lending/Borrowing (Weighted Average): –0.2 –0.4 –0.5 –1.1 –2.3 –2.4 –1.9 –1.3 –1.5 –1.3
- Emerging Market and Developing Economies, General Government Net Lending/Borrowing (Weighted Average): –0.9 –1.0 –1.7 –2.5 –4.4 –4.8 –4.2 –3.9 –4.7 –4.3
- Growth of Broad Money, Emerging Market and Developing Economies (Weighted Average): 16.3 14.4 14.1 12.3 13.0 11.2 11.8 18.7 16.3 13.8

### Advanced Economies: Government Balances and Net Lending/Borrowing Excluding Social Security Schemes (Table B6)
- General Government Net Lending/Borrowing, Advanced Economies: –6.1 –5.3 –3.5 –2.9 –2.4 –2.5 –2.1 –2.1 –2.4 –2.2
- United States, General Government Net Lending/Borrowing: –9.3 –7.6 –4.1 –3.7 –3.2 –3.9 –3.8 –4.3 –4.6 –4.4
- Euro Area, General Government Net Lending/Borrowing: –4.2 –3.7 –3.1 –2.5 –2.0 –1.6 –1.0 –0.6 –1.0 –0.9
- General Government Net Lending/Borrowing Excluding Social Security Schemes, United States: –6.1 –4.5 –1.7 –1.5 –1.0 –1.7 –1.8 –2.2 –2.5 –2.1
- Central Government Net Lending/Borrowing, Advanced Economies: –5.4 –4.9 –3.3 –2.8 –2.4 –2.5 –2.3 –2.2 –2.4 –2.2
- Central Government Net Lending/Borrowing, United Kingdom: –7.3 –7.6 –6.0 –5.0 –4.0 –2.4 –1.8 –1.0 –0.9 –0.8
- Memorandum, Major Advanced Economies, Central Government Net Lending/Borrowing: –6.7 –5.9 –3.9 –3.3 –2.9 –3.1 –3.0 –2.9 –3.2 –3.0

*Source: tableb - Section 1; https://www.imf.org/-/media/files/publications/weo/2019/april/english/tableb.pdf*

### Section 2

### tableb - Section 2

### Advanced Economies: General Government Structural Balances (Table B7)
- Aggregate Advanced Economies structural balance (percent of potential GDP), projections:
  - 2011: –5.6
  - 2012: –4.4
  - 2013: –3.1
  - 2014: –2.5
  - 2015: –2.3
  - 2016: –2.4
  - 2017: –2.3
  - 2018: –2.5
  - 2019: –2.8
  - 2020: –2.7
- Selected country structural balances (percent of potential GDP), 2011–2020:
  - United States: –7.9, –6.1, –4.0, –3.4, –3.2, –3.9, –4.0, –4.7, –5.2, –5.0
  - Euro Area (aggregate): –3.9, –2.2, –1.3, –1.0, –0.9, –0.8, –0.7, –0.7, –0.9, –1.1
  - Germany: –1.3, –0.1, 0.2, 0.9, 0.8, 1.0, 0.9, 1.3, 0.7, 0.6
  - France: –5.2, –4.5, –3.5, –3.3, –3.0, –2.8, –2.6, –2.5, –2.5, –2.5
  - Italy: –4.1, –1.5, –0.6, –1.1, –0.7, –1.4, –1.6, –1.7, –2.1, –3.1
  - Japan: –8.0, –7.6, –7.5, –5.5, –4.3, –4.1, –3.4, –3.1, –2.8, –2.1
  - United Kingdom: –5.9, –5.9, –3.9, –4.6, –3.9, –2.8, –1.9, –1.4, –1.2, –1.0
  - Canada: –3.1, –1.9, –0.9, 0.3, 0.9, 0.8, 0.1, –0.2, –0.4, –0.7
  - Korea: 1.6, 1.7, 0.9, 0.6, 0.8, 2.0, 2.5, 2.9, 2.3, 1.7
  - Norway (excluding oil and Government Pension Fund—Global): –4.0, –4.4, –4.7, –5.5, –6.4, –7.3, –7.4, –6.8, –7.1, –7.2
- Memorandum: Major Advanced Economies structural balance:
  - 2011: –6.4
  - 2012: –5.2
  - 2013: –3.7
  - 2014: –3.0
  - 2015: –2.7
  - 2016: –3.0
  - 2017: –2.9
  - 2018: –3.1
  - 2019: –3.5
  - 2020: –3.3
- Notes and definitions:
  - Structural balance defined as actual net lending/borrowing minus effects of cyclical output from potential output, corrected for one-time and other factors.
  - Data are on a national income accounts basis for the table; coverage and exclusions vary by country as noted in the table footnotes (e.g., social security, one-time receipts, asset sales, accrual pension accounting).

### Emerging Market and Developing Economies: General Government Net Lending/Borrowing (Table B8 and B9)
- Aggregate Emerging Market and Developing Economies net lending/borrowing (percent of GDP), projections:
  - 2011: –0.9
  - 2012: –1.0
  - 2013: –1.7
  - 2014: –2.5
  - 2015: –4.4
  - 2016: –4.8
  - 2017: –4.2
  - 2018: –3.9
  - 2019: –4.7
  - 2020: –4.3
- Regional aggregates and selected country series (percent of GDP), 2011–2020:
  - Commonwealth of Independent States (aggregate): 1.7, 0.7, –0.7, –0.7, –3.3, –3.4, –1.7, 2.2, 0.7, 0.5
    - Russia: 1.4, 0.4, –1.2, –1.1, –3.4, –3.7, –1.5, 2.8, 1.0, 0.8
    - Excluding Russia: 2.6, 1.6, 0.7, 0.5, –3.2, –2.6, –2.3, 0.4, –0.2, –0.1
  - Emerging and Developing Asia (aggregate): –1.6, –1.6, –1.9, –2.0, –3.3, –4.0, –4.1, –4.7, –5.6, –5.1
    - China: –0.1, –0.3, –0.8, –0.9, –2.8, –3.7, –3.9, –4.8, –6.1, –5.5
    - India: –8.3, –7.5, –7.0, –7.1, –7.2, –7.1, –7.0, –6.7, –6.9, –6.6
    - Excluding China and India (aggregate): –1.2, –1.9, –2.1, –2.2, –2.4, –2.3, –2.4, –2.3, –2.3, –2.3
  - Latin America and the Caribbean (aggregate): –2.6, –2.8, –3.1, –4.7, –6.5, –5.9, –5.4, –4.7, –4.6, –4.1
    - Brazil: –2.5, –2.5, –3.0, –5.4, –10.2, –9.0, –7.9, –6.8, –7.3, –7.0
    - Mexico: –3.3, –3.7, –3.7, –4.5, –4.0, –2.8, –1.1, –2.3, –2.5, –2.4
  - Middle East, North Africa, Afghanistan, and Pakistan (aggregate): 3.6, 4.5, 2.3, –2.1, –8.7, –9.5, –5.5, –3.1, –4.7, –3.8
    - Middle East and North Africa (subset): 4.4, 5.5, 3.1, –1.8, –9.0, –10.1, –5.5, –2.8, –4.5, –3.4
  - Sub-Saharan Africa (aggregate): –1.2, –1.8, –3.1, –3.7, –4.4, –4.5, –4.7, –3.7, –4.0, –3.8
    - Excluding Nigeria and South Africa: 0.4, –1.6, –3.1, –4.5, –4.8, –4.9, –4.5, –3.1, –3.0, –2.9
- Analytical groups:
  - By source of export earnings:
    - Fuel exporters: 3.6, 3.5, 1.5, –1.4, –6.7, –7.6, –4.5, –0.9, –2.5, –1.9
    - Nonfuel exporters: –2.2, –2.3, –2.5, –2.8, –3.9, –4.2, –4.2, –4.4, –5.1, –4.8
  - By external financing source:
    - Net Debtor Economies: –3.0, –3.2, –3.5, –4.0, –4.9, –4.7, –4.4, –4.0, –4.2, –4.0
    - Economies with Arrears and/or Rescheduling during 2013–17: –4.7, –6.1, –7.6, –7.5, –7.6, –8.2, –6.2, –5.2, –4.7, –3.6
- Median Emerging Market and Developing Economies net lending/borrowing:
  - 2011: –2.5
  - 2012: –2.4
  - 2013: –2.8
  - 2014: –3.4
  - 2015: –3.5
  - 2016: –3.7
  - 2017: –2.9
  - 2018: –2.9
  - 2019: –2.7
  - 2020: –2.7

### Emerging Market and Developing Economies: General Government Overall Fiscal Balance (selected series from Table B8)
- Selected country overall fiscal balances (percent of GDP), 2011–2020:
  - Brazil: –3.4, –3.8, –3.6, –6.3, –10.0, –7.2, –7.1, –4.9, –7.1, –6.8
  - Indonesia: –0.8, –1.6, –2.3, –2.2, –2.6, –2.5, –2.5, –1.8, –1.8, –1.8
  - Thailand: –0.3, –1.3, 0.0, –1.1, –0.2, 0.2, –1.3, –0.6, –0.4, –0.9
  - Colombia: 2.0, 0.1, –0.9, –1.8, –3.4, –2.4, –2.6, –2.2, –2.6, –1.0
  - Malaysia: –3.6, –3.1, –3.5, –2.7, –2.6, –2.6, –2.4, –3.6, –3.0, –2.5
  - Philippines: –0.7, –0.8, –0.1, 0.6, 0.4, –0.5, –0.3, –1.0, –1.3, –1.4
  - Vietnam: –1.7, –7.3, –7.9, –7.1, –6.2, –5.2, –5.3, –4.9, –4.8, –4.5
  - Peru: 2.0, 2.1, 0.7, –0.2, –2.1, –2.3, –2.9, –2.1, –1.9, –1.3
  - Chile: 1.4, 0.7, –0.5, –1.5, –2.1, –2.7, –2.6, –1.5, –1.8, –1.5
- Note: Overall fiscal balance series include net lending/borrowing including policy lending (transactions in financial assets deemed for public policy).

### Country-level highlights from Table B9 (selected entries)
- Wide variance across countries and regions in general government net lending/borrowing (percent of GDP), 2011–2020; sample entries:
  - Timor-Leste: –4.7, –6.7, –3.5, –13.4, –17.0, –35.1, –18.7, –17.3, –22.7, –28.8
  - Venezuela (note methodological change starting 2010): –8.2, –10.4, –11.3, –15.6, –10.7, –10.8, –23.0, –29.9, –29.8, –30.1
  - Kuwait: 33.3, 32.4, 34.1, 22.4, 5.6, 0.3, 6.6, 11.4, 9.5, 7.6
  - Libya: –17.2, 28.6, –5.1, –73.8, –131.0, –113.3, –43.0, –7.4, –10.9, –14.9
  - Brunei Darussalam: 25.6, 15.8, 13.0, 3.6, –14.5, –21.7, –10.6, –8.4, –11.7, –9.4
  - India: –8.3, –7.5, –7.0, –7.1, –7.2, –7.1, –7.0, –6.7, –6.9, –6.6
  - China: –0.1, –0.3, –0.8, –0.9, –2.8, –3.7, –3.9, –4.8, –6.1, –5.5
  - South Africa: –4.1, –4.4, –4.3, –4.3, –4.8, –4.1, –4.4, –4.4, –5.1, –5.1
  - Nigeria: 0.4, 0.2, –2.3, –2.1, –3.5, –4.0, –5.4, –4.5, –5.1, –4.6
- Many small states and low-income countries show large swings and high variability (examples include Kiribati, Nauru, Tuvalu, Micronesia, Marshall Islands) with multiyear extreme values reported in the table.

*Source: tableb - Section 2 (extracted content).*

### Section 3

### tableb - Section 3

### Exchange Rate Assumption — US Dollar Nominal Exchange Rates (US Dollars per National Currency Unit)
- Euro: 1.391 1.286 1.328 1.329 1.110 1.107 1.129 1.181 1.144
- British Pound: 1.603 1.580 1.564 1.646 1.528 1.355 1.288 1.336 1.297

### Exchange Rate Assumption — National Currency Units per US Dollar
- Japanese Yen: 79.807 79.790 97.596 105.945 121.044 108.793 112.166 110.423 107.767
- Canadian Dollar: 0.990 0.999 1.030 1.106 1.279 1.325 1.298 1.296 1.316
- Australian Dollar: 0.969 0.965 1.033 1.108 1.329 1.344 1.304 1.337 1.396

### Real Effective Exchange Rates (Index, 2005 = 100)
- United States: 86.6 90.4 90.4 95.5 112.2 113.0 115.4 111.9 114.7
- Euro Area: 104.5 98.3 102.9 102.4 90.7 91.2 92.5 95.7 94.3
- Japan: 118.4 117.2 94.7 85.8 81.6 92.8 86.3 85.1 85.9
- Korea: 76.2 82.6 93.7 106.5 119.6 118.7 123.1 124.9 125.0

(Note: Defined as the ratio, in common currency, of the unit labor costs in the manufacturing sector to the weighted average of those of its advanced economy trading partners, using 2004–06 trade weights.)

### Table B11 — Emerging Market and Developing Economies: Broad Money Aggregates (Annual percent change) — Emerging Market and Developing Economies (Projections)
- 2011 16.3
- 2012 14.4
- 2013 14.1
- 2014 12.3
- 2015 13.0
- 2016 11.2
- 2017 11.8
- 2018 18.7
- 2019 16.3
- 2020 13.8

### Table B12 — Advanced Economies: Export Volumes, Import Volumes, and Terms of Trade in Goods and Services (Annual percent change) — Export Volume (Advanced Economies)
- Averages 2001–10: 3.9
- 2011–20 average: 3.5
- 2011 6.1
- 2012 2.9
- 2013 3.2
- 2014 3.9
- 2015 3.8
- 2016 1.8
- 2017 4.4
- 2018 3.1
- 2019 2.7 (projection)
- 2020 3.1 (projection)

### Table B13 — Emerging Market and Developing Economies by Region: Total Trade in Goods — Emerging Market and Developing Economies (Value in US Dollars)
- Exports (annual percent change): 14.1 (2001–10 average), 3.7 (2011–20 average), 26.0 (2011), 4.0 (2012), 2.5 (2013), –0.5 (2014), –15.8 (2015), –5.1 (2016), 13.7 (2017), 11.3 (2018), 1.7 (2019), 5.1 (2020 projection)
- Imports (annual percent change): 14.3 (2001–10 average), 4.5 (2011–20 average), 24.2 (2011), 4.2 (2012), 3.1 (2013), –0.1 (2014), –12.8 (2015), –4.2 (2016), 13.1 (2017), 11.9 (2018), 3.6 (2019), 5.7 (2020 projection)

### Table B14 — Emerging Market and Developing Economies by Source of Export Earnings: Total Trade in Goods — Selected rows (Value in US Dollars)
- Fuel exports: 14.6 (2001–10 average), 0.2 (2011–20 average), 38.0 (2011), 4.2 (2012), –1.3 (2013), –6.8 (2014), –34.1 (2015), –12.0 (2016), 18.6 (2017), 18.4 (2018), –7.8 (2019), 3.2 (2020 projection)
- Nonfuel exports: 14.0 (2001–10 average), 4.9 (2011–20 average), 21.5 (2011), 3.9 (2012), 4.3 (2013), 2.3 (2014), –8.4 (2015), –3.2 (2016), 12.4 (2017), 9.3 (2018), 4.5 (2019), 5.6 (2020 projection)

### Table B15 — Summary of Current Account Transactions (Billions of US dollars) — Selected series and projections
- Advanced Economies — Current Account Balance: –275.0 (2001–10 average), –239.8 (2005–12 average), 212.8 (2013), 238.8 (2014), 286.6 (2015), 328.0 (2016), 423.3 (2017), 371.9 (2018), 303.8 (2019 projection), 267.8 (2020 projection), 289.8 (2021–24 average projection)
- Advanced Economies — Trade Balance: –155.1 (2001–10 average), –154.7 (2005–12 average), 227.5 (2013), 263.3 (2014), 342.3 (2015), 394.3 (2016), 419.6 (2017), 333.9 (2018), 249.5 (2019 projection), 269.3 (2020 projection), 314.8 (2021–24 average)
- United States — Current Account Balance: –573.8 (2001–10 average), –577.5 (2005–12 average), –348.8 (2013), –365.2 (2014), –407.8 (2015), –432.9 (2016), –449.1 (2017), –468.8 (2018), –513.4 (2019 projection), –583.3 (2020 projection), –594.0 (2021–24 average)
- Euro Area — Current Account Balance: –12.2 (2001–10 average), –9.2 (2005–12 average), 300.7 (2013), 340.4 (2014), 342.6 (2015), 383.6 (2016), 410.6 (2017), 403.6 (2018), 394.8 (2019 projection), 399.6 (2020 projection), 381.1 (2021–24 average)
- Germany — Current Account Balance: 132.8 (2001–10 average), 201.7 (2005–12 average), 252.5 (2013), 291.0 (2014), 301.2 (2015), 297.5 (2016), 295.0 (2017), 294.3 (2018), 279.6 (2019 projection), 282.0 (2020 projection), 292.8 (2021–24 average)

*Source: tableb - Section 3*

### Section 4

### tableb - Section 4

### Summary of Current Account Transactions — Selected Country Highlights
- Spain — Current Account Balance:
  - 2001–10: –76.5
  - 2005–12: –83.3
  - 2013: 20.7
  - 2014: 14.9
  - 2015: 13.9
  - 2016: 27.9
  - 2017: 24.3
  - 2018: 11.1
  - 2019: 11.8
  - 2020: 12.5
  - 2021−24: 13.5
- Japan — Current Account Balance:
  - 2001–10: 158.2
  - 2005–12: 156.9
  - 2013: 45.9
  - 2014: 36.8
  - 2015: 136.4
  - 2016: 194.9
  - 2017: 196.1
  - 2018: 174.1
  - 2019: 180.4
  - 2020: 196.6
  - 2021−24: 219.3
- United Kingdom — Current Account Balance:
  - 2001–10: –70.9
  - 2005–12: –86.2
  - 2013: –141.9
  - 2014: –149.6
  - 2015: –142.4
  - 2016: –139.3
  - 2017: –88.1
  - 2018: –109.1
  - 2019: –117.4
  - 2020: –115.9
  - 2021−24: –123.4
- Canada — Current Account Balance:
  - 2001–10: 1.5
  - 2005–12: –20.2
  - 2013: –59.4
  - 2014: –43.2
  - 2015: –55.1
  - 2016: –49.0
  - 2017: –46.3
  - 2018: –45.3
  - 2019: –53.7
  - 2020: –51.7
  - 2021−24: –53.4

### Summary of Current Account Transactions — Regional Groups (selected)
- Emerging Market and Developing Economies — Current Account Balance:
  - 2001–10: 342.9
  - 2005–12: 451.1
  - 2013: 173.5
  - 2014: 173.9
  - 2015: –57.0
  - 2016: –76.3
  - 2017: –9.5
  - 2018: –23.7
  - 2019: –149.4
  - 2020: –200.9
  - 2021−24: –375.9
- Other Advanced Economies — Current Account Balance:
  - 2001–10: 169.1
  - 2005–12: 215.5
  - 2013: 343.7
  - 2014: 357.0
  - 2015: 360.9
  - 2016: 344.4
  - 2017: 324.8
  - 2018: 345.7
  - 2019: 338.3
  - 2020: 344.5
  - 2021−24: 373.9
- Commonwealth of Independent States — Current Account Balance:
  - 2001–10: 62.5
  - 2005–12: 80.4
  - 2013: 17.9
  - 2014: 57.6
  - 2015: 53.0
  - 2016: 0.6
  - 2017: 20.4
  - 2018: 109.3
  - 2019: 83.6
  - 2020: 78.0
  - 2021−24: 56.4

### Analytical Groups — By Source of Export Earnings (selected)
- Fuel economies — Current Account Balance:
  - 2001–10: 274.4
  - 2005–12: 437.3
  - 2013: 465.4
  - 2014: 311.8
  - 2015: –78.0
  - 2016: –73.7
  - 2017: 80.5
  - 2018: 274.5
  - 2019: 114.7
  - 2020: 112.3
  - 2021−24: 72.4
- Nonfuel economies — Current Account Balance:
  - 2001–10: 69.0
  - 2005–12: 14.3
  - 2013: –292.0
  - 2014: –137.9
  - 2015: 21.0
  - 2016: –2.6
  - 2017: –90.0
  - 2018: –298.2
  - 2019: –264.1
  - 2020: –313.3
  - 2021−24: –448.3

### Analytical Groups — By External Financing Source (selected)
- Net Debtor Economies — Current Account Balance:
  - 2001–10: –89.7
  - 2005–12: –195.0
  - 2013: –384.5
  - 2014: –354.4
  - 2015: –306.3
  - 2016: –212.3
  - 2017: –221.7
  - 2018: –294.7
  - 2019: –305.6
  - 2020: –327.0
  - 2021−24: –407.9
- Net Debtor Economies (by debt-servicing experience) — Economies with Arrears and/or Rescheduling during 2013–17 — Current Account Balance:
  - 2001–10: –8.9
  - 2005–12: –23.6
  - 2013: –53.9
  - 2014: –39.2
  - 2015: –49.3
  - 2016: –50.2
  - 2017: –41.5
  - 2018: –37.8
  - 2019: –39.5
  - 2020: –41.2
  - 2021−24: –45.0

### Memorandum — World Current Account Balance (selected)
- World — Current Account Balance:
  - 2001–10: 67.9
  - 2005–12: 211.3
  - 2013: 386.3
  - 2014: 412.7
  - 2015: 229.5
  - 2016: 251.7
  - 2017: 413.8
  - 2018: 348.2
  - 2019: 154.5
  - 2020: 66.9
  - 2021−24: –86.2

### External Debt and Debt-Service — Emerging Market and Developing Economies (selected)
- External Debt (Billions of US dollars) — Emerging Market and Developing Economies total:
  - 2011: 6,814.1
  - 2012: 7,532.0
  - 2013: 8,411.0
  - 2014: 8,852.8
  - 2015: 8,359.8
  - 2016: 8,723.1
  - 2017: 9,607.4
  - 2018: 10,057.9
  - 2019: 10,542.3
  - 2020: 11,030.3
- Debt-Service Payments (Billions of US dollars) — Emerging Market and Developing Economies:
  - 2011: 2,193.6
  - 2012: 2,608.8
  - 2013: 3,004.4
  - 2014: 3,427.6
  - 2015: 3,524.1
  - 2016: 3,073.7
  - 2017: 3,093.5
  - 2018: 3,430.5
  - 2019: 3,622.9
  - 2020: 3,820.8
- External Debt (Percent of exports of goods and services) — Emerging Market and Developing Economies:
  - 2011: 82.6
  - 2012: 87.7
  - 2013: 95.1
  - 2014: 99.7
  - 2015: 109.2
  - 2016: 118.9
  - 2017: 116.0
  - 2018: 109.5
  - 2019: 112.3
  - 2020: 111.6
- Debt-Service Payments (Percent of exports of goods and services) — Emerging Market and Developing Economies:
  - 2011: 27.0
  - 2012: 30.8
  - 2013: 34.4
  - 2014: 39.0
  - 2015: 46.4
  - 2016: 42.1
  - 2017: 37.6
  - 2018: 37.5
  - 2019: 38.7
  - 2020: 38.7

### External Debt by Maturity — Emerging Market and Developing Economies (selected)
- Total Debt (Billions of US dollars):
  - 2011: 6,814.1
  - 2012: 7,532.0
  - 2013: 8,411.0
  - 2014: 8,852.8
  - 2015: 8,359.8
  - 2016: 8,723.1
  - 2017: 9,607.4
  - 2018: 10,057.9
  - 2019: 10,542.3
  - 2020: 11,030.3
- Short Term (Billions of US dollars):
  - 2011: 1,891.8
  - 2012: 2,137.2
  - 2013: 2,553.1
  - 2014: 2,669.6
  - 2015: 2,164.7
  - 2016: 2,178.5
  - 2017: 2,512.1
  - 2018: 2,681.3
  - 2019: 2,805.2
  - 2020: 2,955.5
- Long Term (Billions of US dollars):
  - 2011: 4,922.3
  - 2012: 5,394.8
  - 2013: 5,857.9
  - 2014: 6,183.2
  - 2015: 6,195.1
  - 2016: 6,544.6
  - 2017: 7,095.3
  - 2018: 7,376.6
  - 2019: 7,737.0
  - 2020: 8,074.8

*Source: tableb - Section 4 (WORLD ECONOMIC OUTLOOK: GROWTH SLOWDOWN, PRECARIOUS RECOVERY, April 2019) — Summary tables and projections as provided in the source content.*

### Section 5

### tableb - Section 5

### External Debt by Maturity (Billions of US dollars) — Emerging Market and Developing Economies by Analytical Criteria
- Years covered: 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (Projections)

- By Source of Export Earnings — Fuel
  - Total Debt: 1,466.4, 1,571.8, 1,700.3, 1,642.8, 1,633.2, 1,833.7, 1,928.6, 2,006.6, 2,077.4, 2,134.1
  - Short Term: 246.2, 283.9, 273.9, 280.7, 281.9, 322.4, 300.0, 325.0, 334.3, 343.3
  - Long Term: 1,220.2, 1,287.9, 1,426.4, 1,362.1, 1,351.3, 1,511.3, 1,628.6, 1,681.5, 1,743.1, 1,790.8

- By Source of Export Earnings — Nonfuel
  - Total Debt: 5,347.7, 5,960.1, 6,710.7, 7,210.0, 6,726.6, 6,889.4, 7,678.8, 8,051.4, 8,464.9, 8,896.2
  - Short Term: 1,645.6, 1,853.3, 2,279.3, 2,388.9, 1,882.8, 1,856.1, 2,212.1, 2,356.3, 2,471.0, 2,612.2
  - Long Term: 3,702.1, 4,106.8, 4,431.5, 4,821.2, 4,843.8, 5,033.3, 5,466.7, 5,695.1, 5,993.9, 6,284.0

- By Source of Export Earnings — Nonfuel Primary Products
  - Total Debt: 586.6, 687.6, 719.8, 774.8, 794.1, 841.0, 940.3, 986.6, 1,016.9, 1,049.6
  - Short Term: 124.4, 148.3, 142.7, 141.7, 156.1, 129.3, 157.8, 183.4, 184.2, 188.0
  - Long Term: 462.2, 539.3, 577.0, 633.1, 638.0, 711.7, 782.5, 803.2, 832.8, 861.6

- By External Financing Source — Net Debtor Economies
  - Total Debt: 4,200.1, 4,695.6, 5,105.9, 5,368.8, 5,307.2, 5,429.9, 5,863.5, 6,096.3, 6,387.9, 6,692.9
  - Short Term: 809.2, 909.4, 988.5, 996.0, 891.5, 904.0, 1,007.8, 1,063.6, 1,107.7, 1,176.1
  - Long Term: 3,390.9, 3,786.2, 4,117.4, 4,372.9, 4,415.7, 4,525.9, 4,855.7, 5,032.7, 5,280.2, 5,516.9

- Net Debtor Economies by Debt-Servicing Experience — Economies with Arrears and/or Rescheduling during 2013–17
  - Total Debt: 302.0, 317.7, 353.9, 363.6, 375.4, 396.1, 441.7, 466.7, 504.6, 519.5
  - Short Term: 33.7, 35.3, 44.1, 33.8, 31.9, 38.9, 48.8, 51.4, 56.1, 63.7
  - Long Term: 268.4, 282.4, 309.8, 329.7, 343.5, 357.3, 392.9, 415.3, 448.5, 455.9

- Other Groups — Heavily Indebted Poor Countries
  - Total Debt: 167.1, 175.5, 208.4, 229.8, 264.3, 279.1, 306.0, 319.9, 348.1, 370.3
  - Short Term: 1.7, 1.9, 1.9, 2.6, 3.1, 3.4, 3.3, 3.0, 3.1, 3.5
  - Long Term: 165.4, 173.7, 206.5, 227.2, 261.1, 275.7, 302.7, 316.9, 345.0, 366.9

- Other Groups — Low-Income Developing Countries
  - Total Debt: 359.6, 389.9, 438.9, 494.0, 545.4, 577.4, 643.5, 688.9, 749.8, 806.6
  - Short Term: 21.5, 23.3, 25.2, 35.2, 39.0, 41.1, 52.4, 52.8, 57.4, 65.0
  - Long Term: 338.1, 366.5, 413.7, 458.8, 506.4, 536.3, 591.1, 636.1, 692.4, 741.5

### Ratio of External Debt to GDP (Percent of GDP)
- Emerging Market and Developing Economies (2011–2020 projections): 25.5, 26.7, 28.0, 28.5, 28.4, 29.8, 30.3, 29.9, 30.1, 29.3

- Regional Groups (2011–2020 projections) — selected highlights:
  - Commonwealth of Independent States: 32.7, 34.7, 37.2, 36.1, 47.1, 51.2, 44.0, 41.0, 41.9, 41.0
  - Emerging and Developing Asia: 18.5, 18.9, 20.6, 21.3, 17.8, 17.8, 19.0, 18.6, 18.6, 18.3
  - Emerging and Developing Europe: 58.3, 63.4, 62.7, 59.2, 61.0, 60.2, 63.4, 61.2, 61.4, 57.1
  - Latin America and the Caribbean: 25.5, 28.8, 31.0, 34.5, 39.0, 42.2, 41.0, 45.3, 46.2, 45.4
  - Middle East, North Africa, Afghanistan, and Pakistan: 27.5, 26.8, 26.9, 27.6, 33.5, 39.4, 42.3, 42.2, 44.4, 43.6
  - Sub-Saharan Africa: 21.6, 23.0, 23.7, 25.4, 29.2, 34.3, 36.1, 35.7, 37.5, 37.0

- Analytical Groups (2011–2020 projections)
  - By Source of Export Earnings — Fuel: 25.2, 25.9, 27.2, 26.9, 33.2, 39.8, 38.9, 38.1, 39.4, 38.6
  - By Source of Export Earnings — Nonfuel: 25.6, 26.9, 28.2, 29.0, 27.4, 27.9, 28.7, 28.4, 28.5, 27.6
  - Of Which, Primary Products: 34.0, 37.0, 37.3, 41.3, 42.2, 47.4, 47.9, 52.2, 54.3, 52.7
  - By External Financing Source — Net Debtor Economies: 31.8, 34.7, 36.1, 37.0, 40.2, 40.7, 40.5, 41.1, 41.2, 40.1
  - Net Debtor Economies by Debt-Servicing Experience — Economies with Arrears and/or Rescheduling during 2013–17: 39.0, 38.2, 40.1, 41.2, 43.4, 46.5, 56.1, 56.5, 56.0, 53.4
  - Heavily Indebted Poor Countries: 31.0, 31.2, 33.6, 35.1, 42.0, 43.5, 44.9, 44.9, 46.4, 46.2
  - Low-Income Developing Countries: 24.3, 24.3, 24.8, 25.7, 29.5, 31.9, 34.5, 34.8, 35.3, 34.8

(Note: "Debt at the end of the year in percent of GDP in the year indicated." Georgia, Turkmenistan, and Ukraine are included in the Commonwealth of Independent States group for geography/economic structure.)

### Debt-Service Ratios (Percent of exports of goods and services)
- Years: 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (Projections)
- Interest Payments — Emerging Market and Developing Economies: 2.8, 3.2, 3.5, 3.8, 4.5, 4.6, 4.5, 4.7, 5.1, 5.3
  - Selected regional examples:
    - Commonwealth of Independent States: 3.6, 3.9, 4.5, 4.6, 5.8, 6.4, 4.4, 4.3, 4.9, 5.6
    - Emerging and Developing Asia: 2.2, 2.5, 2.8, 3.2, 3.3, 3.0, 3.4, 3.6, 3.8, 3.9
    - Latin America and the Caribbean: 4.3, 4.8, 5.0, 5.4, 6.4, 6.8, 6.2, 6.0, 6.1, 6.1
  - Analytical groups:
    - By Source of Export Earnings — Fuel: 1.8, 1.9, 2.1, 2.2, 3.1, 3.9, 3.3, 3.5, 4.2, 4.7
    - By Source of Export Earnings — Nonfuel: 3.3, 3.8, 4.1, 4.4, 4.8, 4.8, 4.8, 5.0, 5.3, 5.5
    - Net Debtor Economies: 3.4, 4.0, 4.3, 4.5, 5.2, 5.4, 5.5, 5.7, 6.1, 6.3
    - Economies with Arrears/Rescheduling 2013–17: 2.0, 2.2, 2.6, 3.1, 4.2, 5.1, 5.1, 5.3, 6.0, 6.2

- Amortization — Emerging Market and Developing Economies: 24.0, 27.3, 30.6, 34.9, 41.8, 37.4, 33.0, 32.7, 33.6, 33.4
  - Regional highlights:
    - Commonwealth of Independent States: 24.2, 26.4, 35.0, 36.8, 37.5, 33.1, 28.8, 24.9, 24.1, 23.4
    - Emerging and Developing Asia: 25.0, 31.7, 34.2, 42.5, 49.1, 39.1, 34.8, 38.2, 38.6, 38.9
    - Emerging and Developing Europe: 54.5, 57.1, 58.6, 56.7, 56.7, 58.3, 52.2, 44.6, 40.5, 35.5
  - Analytical groups:
    - By Source of Export Earnings — Fuel: 11.2, 10.7, 14.6, 14.6, 17.5, 17.4, 15.0, 13.8, 15.4, 15.4
    - By Source of Export Earnings — Nonfuel: 29.3, 34.3, 36.9, 42.4, 48.4, 42.5, 37.7, 38.1, 38.1, 37.8
    - Net Debtor Economies: 27.4, 29.4, 32.3, 33.8, 38.6, 38.6, 34.2, 30.9, 30.5, 29.2
    - Economies with Arrears/Rescheduling 2013–17: 26.0, 32.9, 37.9, 37.7, 40.9, 42.4, 41.3, 38.0, 35.2, 34.8

(Notes: Excludes IMF service payments. Interest payments and amortization on total debt. Estimates through 2018 reflect debt-service payments actually made. Estimates for 2019 and 2020 incorporate projected exceptional-financing items, including accumulation of arrears and rescheduling arrangements. In some cases, amortization on account of debt-reduction operations is included.)

### Emerging Market and Developing Economies — Medium-Term Baseline Scenario: Selected Economic Indicators (Annual percent change, trade-weighted where indicated)
- Averages / Projections presented: 2001–10, 2011–20, 2017, 2018, 2019, 2020, 2017–2020, 2021–24

- World aggregate (Emerging Market and Developing Economies)
  - Real GDP: 6.2 (2001–10), 4.9 (2011–20), 4.8 (2017), 4.5 (2018), 4.4 (2019), 4.8 (2020), 4.6 (2017–2020), 4.9 (2021–24)
  - Export Volume1: 8.1, 4.5, 7.2, 4.3, 4.0, 4.8, 5.0, 4.5
  - Terms of Trade1: 1.0–0.2, 0.8, 1.3–0.9, 0.0, 0.3, 0.1
  - Import Volume1: 9.1, 5.0, 7.5, 5.6, 4.6, 5.3, 5.7, 5.1

- Regional group examples (Real GDP, Export Volume1, Terms of Trade1, Import Volume1) — selected years and ranges:
  - Commonwealth of Independent States (Real GDP): 5.5 (2001–10), 2.1 (2011–20), 2.4 (2017), 2.8 (2018), 2.2 (2019), 2.3 (2020), 2.4 (2017–2020), 2.3 (2021–24)
  - Emerging and Developing Asia (Real GDP): 8.4, 6.8, 6.6, 6.4, 6.3, 6.3, 6.4, 6.2
  - Latin America and the Caribbean (Real GDP): 3.2, 1.7, 1.2, 1.0, 1.4, 2.4, 1.5, 2.8
  - Sub-Saharan Africa (Real GDP): 5.9, 3.8, 2.9, 3.0, 3.5, 3.7, 3.3, 3.9

(1 Data refer to trade in goods and services.)
(2 Georgia, Turkmenistan, and Ukraine are included in the Commonwealth of Independent States group for reasons of geography and similarity in economic structure.)

### Selected External Sector Indicators — Projections and Levels (Percent of exports of goods and services or US$ aggregates where indicated)
- Emerging Market and Developing Economies — Projections (years listed in table): 2008, 2012, 2016, 2017, 2018, 2019, 2020, 2024
  - Current Account Balance: 9.5, 3.7, –1.0, –0.1, –0.3, –1.6, –2.0, –3.8
  - Total External Debt: 73.6, 87.7, 118.9, 116.0, 109.5, 112.3, 111.6, 108.7
  - Debt-Service Payments3: 25.4, 30.8, 42.1, 37.6, 37.5, 38.7, 38.7, 36.8
  - Interest Payments3: 3.3, 3.2, 4.6, 4.5, 4.7, 5.1, 5.3, 4.9
  - Amortization: 21.9, 27.3, 37.4, 33.0, 32.7, 33.6, 33.4, 31.9

- Regional breakdowns (Total External Debt, Debt-Service Payments3, Interest Payments3, Amortization) — selected excerpts:
  - Commonwealth of Independent States — Total External Debt: 92.3, 108.8, 177.7, 149.1, 119.4, 124.9, 122.1, 114.9
  - Emerging and Developing Asia — Total External Debt: 45.0, 66.3, 78.5, 81.4, 79.0, 80.3, 81.0, 83.5
  - Emerging and Developing Europe — Total External Debt: 146.4, 172.1, 153.8, 150.2, 134.7, 127.5, 123.2, 108.5
  - Latin America and the Caribbean — Total External Debt: 102.4, 134.4, 203.6, 190.9, 188.7, 191.9, 189.9, 172.4
  - Middle East, North Africa, Afghanistan, and Pakistan — Total External Debt: 63.4, 54.3, 111.7, 109.5, 104.9, 117.7, 117.8, 123.0
  - Sub-Saharan Africa — Total External Debt: 60.0, 75.6, 157.4, 151.8, 141.5, 158.8, 159.2, 161.7

- Net Debtor Economies — Economies with Arrears and/or Rescheduling during 2013–17 (selected)
  - Current Account Balance: –10.4, –21.8, –28.3, –20.6, –16.4, –16.2, –15.6, –13.0
  - Total External Debt: 107.3, 126.5, 223.3, 219.3, 203.8, 207.9, 198.0, 176.8
  - Debt-Service Payments3: 27.2, 35.1, 47.6, 46.4, 43.4, 41.2, 41.0, 36.1
  - Interest Payments3: 2.1, 2.2, 5.1, 5.1, 5.3, 6.0, 6.2, 5.1
  - Amortization: 25.2, 32.9, 42.9, 42.4, 41.3, 38.0, 35.2, 30.9

(3 Interest payments and amortization on total debt. The projections incorporate the impact of exceptional-financing items. Excludes service payments to the IMF.)

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

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