## tablea1

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### Summary of World Output (Section 1)
- World (Real GDP, annual percent change): 3.9; 3.4; 3.3; 3.8; 3.6; 2.8; –2.8; 6.3; 3.4; 2.8; 3.0; 3.0
- Advanced Economies: 1.5; 2.3; 1.8; 2.5; 2.3; 1.7; –4.2; 5.4; 2.7; 1.3; 1.4; 1.8
  - United States: 1.6; 2.7; 1.7; 2.2; 2.9; 2.3; –2.8; 5.9; 2.1; 1.6; 1.1; 2.1
  - Euro Area: 0.8; 2.0; 1.9; 2.6; 1.8; 1.6; –6.1; 5.4; 3.5; 0.8; 1.4; 1.4
  - Japan: 0.5; 1.6; 0.8; 1.7; 0.6; –0.4; –4.3; 2.1; 1.1; 1.3; 1.0; 0.4
- Other Advanced Economies: 2.6; 2.1; 2.3; 3.0; 2.5; 1.9; –4.1; 5.8; 3.1; 1.3; 1.9; 2.0
- Emerging Market and Developing Economies: 6.1; 4.4; 4.4; 4.7; 4.7; 3.6; –1.8; 6.9; 4.0; 3.9; 4.2; 3.9

### Regional and Analytical Groups (Section 1)
- Emerging and Developing Asia: 8.3; 6.8; 6.8; 6.6; 6.4; 5.2; –0.5; 7.5; 4.4; 5.3; 5.1; 4.4
- Emerging and Developing Europe: 3.7; 1.0; 1.8; 4.2; 3.6; 2.5; –1.6; 7.3; 0.8; 1.2; 2.5; 2.3
- Latin America and the Caribbean: 3.5; 0.4; –0.6; 1.4; 1.2; 0.2; –6.8; 7.0; 4.0; 1.6; 2.2; 2.3
- Middle East and Central Asia: 4.5; 3.0; 4.3; 2.2; 2.8; 1.6; –2.7; 4.6; 5.3; 2.9; 3.5; 3.7
- Sub-Saharan Africa: 5.5; 3.2; 1.5; 2.9; 3.2; 3.3; –1.7; 4.8; 3.9; 3.6; 4.2; 4.4

- By Source of Export Earnings:
  - Fuel exporters: 4.6; 1.7; 1.4; 0.7; 0.6; –0.5; –3.7; 4.1; 4.8; 3.1; 3.2; 2.9
  - Nonfuel exporters: 6.3; 4.7; 4.8; 5.2; 5.1; 4.1; –1.6; 7.2; 3.9; 4.0; 4.3; 4.0
  - Of which, Primary Products: 4.3; 2.6; 1.6; 2.8; 1.6; 1.0; –5.7; 8.0; 3.8; 1.8; 3.4; 3.0

- By External Financing Source:
  - Net Debtor Economies: 5.2; 4.1; 4.0; 4.7; 4.6; 3.3; –3.2; 6.6; 4.8; 3.7; 4.5; 4.6
  - Economies with Arrears and/or Rescheduling during 2017–21: 4.5; 1.5; 2.9; 3.3; 3.6; 3.4; –0.9; 3.4; 0.6; 2.7; 4.3; 5.1

### Memorandum and Output per Capita (Section 1)
- Median Growth Rate
  - Advanced Economies: 1.7; 2.3; 2.2; 3.0; 2.8; 2.0; –4.3; 5.9; 3.4; 1.3; 1.7; 2.1
  - Emerging Market and Developing Economies: 4.6; 3.4; 3.4; 3.7; 3.5; 3.1; –3.5; 4.6; 4.0; 3.4; 3.6; 3.4

- Output per Capita (international dollars at purchasing power parity)
  - Advanced Economies: 0.9; 1.7; 1.3; 2.1; 1.9; 1.3; –4.7; 5.3; 2.3; 0.9; 1.0; 1.4
  - Emerging Market and Developing Economies: 4.4; 2.8; 2.9; 3.3; 3.3; 2.3; –3.1; 6.1; 2.8; 2.8; 3.0; 2.7

### World Growth Rate and Value of World Output (Section 1)
- World growth rate based on market exchange rates (annual percent change): 2.6; 2.8; 2.6; 3.3; 3.2; 2.5; –3.2; 6.0; 3.0; 2.4; 2.4; 2.6
- Value of World Output (billions of US dollars)
  - At Market Exchange Rates: 65,531; 74,968; 76,228; 81,051; 85,967; 87,284; 84,895; 96,314; 100,218; 105,569; 110,764; 134,950
  - At Purchasing Power Parities: 89,412; 111,934; 116,227; 122,392; 129,799; 135,745; 133,368; 147,910; 163,510; 174,471; 183,654; 223,272

*Source: WORLD ECONOMIC OUTLOOK: A ROCKY RECOVERY — Table A1 (Real GDP and related series), Statistical Appendix, International Monetary Fund | April 2023*

### Selected Country and Inflation Series (Section 2)
- Sub-Saharan Africa (Real GDP series as presented): 5.53.21.52.93.23.3–1.74.83.93.64.24.4
- Selected countries — Real GDP (annual percent change):
  - Angola: 7.80.9–2.6–0.2–1.3–0.7–5.61.12.83.53.74.2
  - Democratic Republic of the Congo: 7.26.40.43.74.84.51.76.26.66.36.56.5
  - Ethiopia: 10.810.48.010.27.79.06.16.36.46.16.47.0
  - Nigeria: 6.92.7–1.60.81.92.2–1.83.63.33.23.03.0
  - South Africa: 3.01.30.71.21.50.3–6.34.92.00.11.81.4
  - Tanzania: 6.46.26.96.87.07.04.84.94.75.26.27.0
  - Zimbabwe (note marker 1 present): 2.61.80.55.04.7–6.1–7.88.53.02.52.62.9

- Summary of Inflation (Table A5 highlights)
  - GDP Deflators — Advanced Economies: 1.51.31.01.51.71.51.63.15.43.92.51.8
  - GDP Deflators — United States: 2.01.01.01.92.41.81.34.57.03.82.21.9
  - Consumer Prices — Advanced Economies (annual averages): 1.90.30.71.72.01.40.73.17.34.72.61.9
  - Consumer Prices — Emerging Market and Developing Economies (annual averages): 6.24.84.44.54.95.15.25.99.88.66.54.4

- Regional consumer price annual averages (selected)
  - Emerging and Developing Asia: 4.92.72.92.42.63.33.22.23.83.43.02.9
  - Emerging and Developing Europe: 8.010.75.65.66.46.75.49.627.919.713.28.0
  - Latin America and the Caribbean: 4.85.45.56.36.67.76.49.814.013.39.05.7
  - Middle East and Central Asia: 8.45.65.97.110.07.610.412.814.315.912.06.4
  - Sub-Saharan Africa: 8.36.710.110.58.38.110.111.014.514.010.57.3

### Advanced and Emerging Economies — End-of-Period Consumer Prices (Section 2)
- Advanced Economies (end-of-period series): 1.90.30.71.72.01.40.73.17.34.72.61.97.33.32.3
- United States (end-of-period series): 2.30.11.32.12.41.81.34.78.04.52.32.16.63.02.1
- Euro Area (Harmonized): 1.90.20.21.51.81.20.32.68.45.32.91.99.23.82.7
- Japan (end-of-period series): 0.20.8–0.10.51.00.50.0–0.22.52.72.21.5

- Emerging and Developing Asia (end-of-period series): 4.92.72.92.42.63.33.22.23.83.43.02.94.03.72.4
- Selected Asia country end-of-period series:
  - China: 2.91.52.11.51.92.92.50.91.92.02.22.21.83.21.3
  - India: 8.44.94.53.63.44.86.25.56.74.94.44.06.34.54.3
  - Indonesia: 7.16.43.53.83.32.82.01.64.24.43.02.55.53.22.8

- Selected country extremes (end-of-period):
  - Venezuela (Latin America and the Caribbean): 27.7121.7254.9438.165,374.119,906.02,355.11,588.5200.9400.0200.0. . .310.1250.0230.0
  - Sudan (Middle East and Central Asia memo): 19.116.917.832.463.351.0163.3359.1138.871.651.918.287.365.348.5
  - Zimbabwe (Sub-Saharan Africa memo): –2.7–2.4–1.60.910.6255.3557.298.5193.4172.2134.620.8243.8181.8120.2

*International Monetary Fund, World Economic Outlook: A Rocky Recovery — Statistical Appendix (tables and series as presented in the source).*

### Major Advanced Economies: Fiscal Balances and Debt (Section 3)
- Major Advanced Economies — Composite Indicators
  - Net Lending/Borrowing: –5.2 –3.0 –3.3 –3.3 –3.3 –3.8 –11.6 –9.1 –5.4 –5.6 –5.3 –5.0
  - Output Gap (Percent of potential GDP): –2.2 –1.9 –1.6 –0.7 0.2 0.4 –3.1 0.0 0.8 0.2 –0.3 0.0
  - Structural Balance (Percent of potential GDP): –4.0 –2.2 –2.7 –3.0 –3.2 –3.8 –8.1 –7.9 –5.2 –5.5 –5.0 –4.9

- United States
  - Net Lending/Borrowing: –6.5 –3.5 –4.4 –4.8 –5.3 –5.7 –14.0 –11.6 –5.5 –6.3 –6.8 –6.8
  - Output Gap (Percent of potential GDP): –4.0 –2.5 –2.1 –1.3 0.0 0.7 –2.5 1.5 1.4 0.9 –0.1 0.0
  - Structural Balance (Percent of potential GDP): –4.4 –2.5 –3.6 –4.3 –5.1 –6.0 –10.7 –10.7 –5.9 –6.6 –6.7 –6.7
  - Net Debt: 63.9 80.9 81.8 80.4 81.1 83.1 98.3 98.3 94.2 95.5 99.8 110.5
  - Gross Debt: 86.1 105.1 107.2 106.2 107.4 108.7 133.5 126.4 121.7 122.2 125.8 136.2

- Euro Area (aggregate)
  - Net Lending/Borrowing: –3.3 –1.9 –1.5 –0.9 –0.4 –0.6 –7.1 –5.4 –3.8 –3.7 –2.8 –1.9
  - Output Gap (Percent of potential GDP): –0.7 –2.4 –1.7 –0.6 –0.1 0.1 –4.6 –2.0 0.2 –0.4 –0.5 0.1
  - Structural Balance (Percent of potential GDP): –2.7 –0.5 –0.5 –0.4 –0.3 –0.5 –4.0 –3.8 –2.8 –3.1 –2.5 –2.0
  - Net Debt: 64.6 75.1 74.6 72.4 70.6 69.0 79.0 77.8 74.8 74.5 74.3 72.4
  - Gross Debt: 80.2 90.9 90.1 87.6 85.6 83.5 96.6 94.9 90.9 89.8 89.0 85.4

- Selected major economies (high-level indicators)
  - Germany: Net Lending/Borrowing: –1.3 1.0 1.2 1.3 1.9 1.5 –4.3 –3.7 –2.6 –3.7 –1.9 –0.5; Net Debt: 57.5 52.2 49.3 45.0 42.2 40.1 45.4 45.6 45.1 46.7 46.8 42.7; Gross Debt: 73.3 71.9 69.0 64.6 61.3 58.9 68.0 68.6 66.5 67.2 66.5 59.6
  - France: Net Lending/Borrowing: –4.4 –3.6 –3.6 –3.0 –2.3 –3.1 –9.0 –6.5 –4.9 –5.3 –4.8 –4.0; Net Debt: 70.3 86.3 89.2 89.4 89.2 88.9 101.7 100.6 99.0 99.4 100.4 103.0; Gross Debt: 78.7 95.4 96.2 98.1 97.8 97.4 114.7 112.6 111.1 111.4 112.4 115.0
  - Italy: Net Lending/Borrowing: –3.3 –2.6 –2.4 –2.4 –2.2 –1.5 –9.7 –9.0 –8.0 –3.7 –3.3 –0.7; Net Debt: 106.7 122.2 121.6 121.3 121.8 121.7 141.4 137.3 133.0 129.3 129.4 122.6; Gross Debt: 117.3 135.3 134.8 134.8 134.4 134.1 154.9 149.8 144.7 140.3 140.0 131.9
  - Japan: Net Lending/Borrowing: –6.4 –3.7 –3.6 –3.1 –2.5 –3.0 –9.1 –6.2 –7.8 –6.4 –4.0 –3.7; Net Debt: 120.8 144.5 149.5 148.1 151.1 151.7 162.3 156.9 162.7 161.0 159.3 161.3; Gross Debt (Nonconsolidated basis): 201.5 228.3 232.4 231.3 232.4 236.4 258.7 255.4 261.3 258.2 256.3 264.0
  - United Kingdom: Net Lending/Borrowing: –5.9 –4.5 –3.3 –2.4 –2.2 –2.2 –13.0 –8.3 –6.3 –5.8 –4.4 –3.7; Net Debt: 57.5 78.2 77.6 76.2 75.4 74.6 94.5 96.7 91.9 95.1 98.2 101.2; Gross Debt: 64.1 86.7 86.6 85.6 85.2 84.5 105.6 108.1 102.6 106.2 109.7 113.1
  - Canada: Net Lending/Borrowing: –1.0 –0.1 –0.5 –0.1 0.4 0.0 –10.9 –4.4 –0.7 –0.4 –0.4 0.0; Net Debt (Includes equity shares): 25.9 18.5 18.0 12.5 11.6 8.5 15.7 15.4 13.9 14.1 13.9 12.0; Gross Debt: 78.9 92.0 92.4 90.9 90.8 90.2 118.9 115.1 106.6 105.1 102.2 91.1

- Note: Debt data refer to the end of the year and are not always comparable across countries. Gross and net debt levels reported by national statistical agencies for countries that have adopted the System of National Accounts 2008 (Australia, Canada, Hong Kong SAR, United States) are adjusted to exclude unfunded pension liabilities of government employees’ defined-benefit pension plans. Percent of potential GDP. Figures reported by the national statistical agency are adjusted to exclude items related to the accrual-basis accounting of government employees’ defined-benefit pension plans. Nonconsolidated basis. Includes equity shares.

*Source: tablea1 - Section 3 (Major Advanced Economies: General Government Fiscal Balances and Debt).*

### Current Account Balances — Emerging Market and Developing Economies (Section 4)
- Emerging and Developing Asia (regional series): 1.9, 1.3, 0.9, –0.3, 0.5, 1.5, 1.0, 1.1, 0.7, 0.5, –0.1
  - Bangladesh: 1.2, 1.6, –0.5, –3.0, –1.3, –1.5, –1.1, –4.1, –2.1, –4.2, –3.0
  - China: 2.6, 1.7, 1.5, 0.2, 0.7, 1.7, 1.8, 2.3, 1.4, 1.1, 0.4
  - India: –1.0, –0.6, –1.8, –2.1, –0.9, 0.9, –1.2, –2.6, –2.2, –2.2, –2.5
  - Indonesia: –2.0, –1.8, –1.6, –2.9, –2.7, –0.4, 0.3, 1.0, –0.3, –0.7, –1.5
  - Malaysia: 3.0, 2.4, 2.8, 2.2, 3.5, 4.2, 3.8, 2.6, 2.6, 2.7, 3.0

- Emerging and Developing Europe (regional series): 1.0, –0.3, –0.7, 1.6, 1.3, 0.1, 1.5, 2.4, –0.8, –0.7, –0.8
  - Bulgaria: 0.0, 3.1, 3.3, 0.9, 1.9, 0.0, –1.9, –0.7, –0.5, –1.0, –0.5
  - Hungary: 2.3, 4.5, 2.0, 0.2, –0.8, –1.1, –4.2, –8.1, –4.6, –1.9, 0.1
  - Poland: –1.3, –1.0, –1.2, –1.9, –0.2, 2.5, –1.4, –3.2, –2.4, –2.1, –2.0
  - Romania: –0.8, –1.6, –3.1, –4.6, –4.9, –4.9, –7.2, –9.3, –7.9, –7.7, –6.2
  - Russia: 5.0, 1.9, 2.0, 7.0, 3.9, 2.4, 6.7, 10.3, 3.6, 3.2, 2.2
  - Türkiye: –3.1, –3.1, –4.7, –2.6, 1.4, –4.4, –0.9, –5.4, –4.0, –3.2, –2.1

- Latin America and the Caribbean (regional series): –3.6, –2.2, –1.8, –2.7, –2.2, –0.4, –2.0, –2.5, –1.8, –1.7, –1.6
  - Argentina: –2.7, –2.7, –4.8, –5.2, –0.8, 0.8, 1.4, –0.7, 1.0, 0.8, 1.0
  - Brazil: –3.5, –1.7, –1.2, –2.9, –3.6, –1.9, –2.8, –2.9, –2.7, –2.7, –2.4
  - Chile: –2.7, –2.6, –2.8, –4.5, –5.2, –1.9, –7.3, –9.0, –4.2, –3.8, –3.0
  - Colombia: –6.4, –4.5, –3.2, –4.2, –4.6, –3.5, –5.6, –6.2, –5.1, –4.6, –4.0
  - Mexico: –2.8, –2.4, –1.9, –2.1, –0.4, 2.1, –0.6, –0.9, –1.0, –1.0, –1.0
  - Peru: –4.6, –2.2, –0.9, –1.3, –0.7, 1.2, –2.3, –4.5, –2.1, –2.3, –1.5

- Middle East and Central Asia (regional series): –3.8, –4.0, –1.1, 3.0, 0.4, –3.0, 3.3, 7.5, 3.6, 2.1, –0.1
  - Algeria: –16.4, –16.5, –13.3, –9.7, –9.9, –12.8, –2.8, 7.2, 0.8, –2.7, –5.8
  - Egypt: –3.5, –5.6, –5.8, –2.3, –3.4, –2.9, –4.4, –3.5, –2.8, –3.1, –2.4
  - Iran: 0.3, 2.9, 3.1, 10.7, –0.7, –0.4, 3.9, 4.7, 1.8, 1.9, 2.2
  - Kazakhstan: –3.7, –6.2, –3.3, –0.5, –4.6, –4.4, –4.0, 2.8, –1.9, –2.0, –3.1
  - Saudi Arabia: –8.5, –3.6, 1.5, 8.5, 4.6, –3.1, 5.1, 13.8, 6.2, 3.6, –1.0
  - United Arab Emirates: 4.7, 3.6, 7.0, 9.7, 8.9, 6.0, 11.6, 11.7, 7.1, 7.0, 6.5

- Sub-Saharan Africa (regional series): –5.7, –3.6, –2.1, –2.1, –3.0, –2.8, –1.1, –2.0, –2.6, –2.7, –2.0
  - Angola: –8.8, –3.1, –0.5, 7.3, 6.1, 1.5, 11.2, 11.0, 6.2, 3.1, 0.8
  - Botswana: 2.2, 8.0, 5.6, 0.4, –6.9, –8.7, –0.5, 3.1, 3.3, 5.4, 4.5
  - Ethiopia: –11.5, –10.9, –8.5, –6.5, –5.3, –4.6, –3.2, –4.3, –3.4, –2.6, –1.7
  - Nigeria: –3.1, 1.3, 3.6, 1.7, –3.1, –3.7, –0.4, –0.7, –0.6, –0.5, –0.2
  - South Africa: –4.3, –2.7, –2.4, –2.9, –2.6, 2.0, 3.7, –0.5, –2.3, –2.6, –2.0
  - Zambia: –2.7, –3.3, –1.7, –1.3, 0.4, 10.6, 9.2, 2.4, 3.8, 4.5, 7.3

*Table A12. Emerging Market and Developing Economies: Current Account Balance (Percent of GDP).*

### Financial Account, Net Lending/Borrowing and World Medium-Term Baseline (Section 5)
- Financial Account Balances (Excerpt)
  - Other Investment, Net: –26.0–32.6–8.8–2.96.312.55.5–6.4–12.2–26.9
  - Change in Reserves: –3.63.915.84.10.1–18.79.4–22.38.224.1
  - World Financial Account Balance (Billions of US dollars): –37.5–10.8110.0188.8–9.7–30.2713.0387.2231.8259.2

- Summary of Net Lending and Borrowing (Table A14, selected series)
  - World (Memorandum)
    - Net Lending and Borrowing: 0.40.40.60.30.40.40.80.30.20.20.1
    - Current Account Balance: 0.40.40.60.40.40.30.80.30.20.20.1
    - Savings: 25.325.626.727.027.027.027.928.027.527.627.7
    - Investment: 24.925.126.026.526.526.327.027.527.227.327.5
    - Capital Account Balance: 0.00.00.00.00.00.00.10.00.10.10.0

  - Advanced Economies (Averages and Projections)
    - Net Lending and Borrowing: –0.40.31.00.70.70.20.8–0.50.10.40.4
    - Current Account Balance: –0.40.31.00.70.70.20.8–0.40.00.30.4
    - Savings: 21.821.723.323.423.623.123.723.222.923.123.3
    - Investment: 22.121.322.122.422.622.322.623.222.522.522.5
    - Capital Account Balance: 0.00.00.0–0.1–0.10.00.10.00.10.10.0

  - United States
    - Net Lending and Borrowing: –3.7–2.5–1.8–2.2–2.1–3.0–3.6–3.6–2.7–2.5–2.3
    - Current Account Balance: –3.7–2.4–1.9–2.1–2.1–2.9–3.6–3.6–2.7–2.5–2.3
    - Savings: 17.217.719.519.619.719.318.018.719.019.219.2
    - Investment: 20.719.820.821.221.321.121.121.621.021.020.9
    - Capital Account Balance: 0.00.00.10.00.00.00.00.00.00.00.0

  - Japan
    - Net Lending and Borrowing: 2.52.24.13.53.42.93.92.12.93.93.8
    - Current Account Balance: 2.62.34.13.53.42.93.92.13.04.03.9
    - Savings: 27.226.329.329.229.228.229.528.828.929.529.4
    - Investment: 24.624.025.225.625.825.325.626.625.925.525.6
    - Capital Account Balance: –0.1–0.1–0.10.0–0.10.0–0.10.0–0.1–0.1–0.1

  - Emerging Market and Developing Economies
    - Net Lending and Borrowing: 2.20.8–0.1–0.20.10.60.91.40.40.1–0.2
    - Current Account Balance: 2.20.7–0.1–0.20.00.50.81.40.30.0–0.3
    - Savings: 32.332.331.732.432.132.834.134.533.633.633.2
    - Investment: 30.331.731.932.732.232.433.433.433.533.733.6
    - Capital Account Balance: 0.20.10.10.00.10.10.00.10.10.1

- Regional groups (selected, Net Lending and Borrowing highlights)
  - Emerging and Developing Asia: 3.21.70.9–0.30.51.51.01.10.70.50.1
  - Emerging and Developing Europe: –0.5–0.2–0.42.11.70.51.92.8–0.4–0.4–0.3
  - Latin America and the Caribbean: –1.1–2.4–1.8–2.7–2.1–0.2–2.0–2.4–1.7–1.7–1.6
  - Middle East and Central Asia: 8.94.5–1.32.60.4–3.03.07.63.51.90.5
  - Sub-Saharan Africa: 1.0–1.9–1.6–1.7–2.6–2.4–0.7–1.6–2.1–2.3–2.0

- Analytical groups (selected)
  - Fuel exporters — Net Lending and Borrowing: 11.96.01.25.32.1–2.34.710.25.23.72.0
  - Nonfuel exporters — Net Lending and Borrowing: 0.70.0–0.2–0.7–0.20.80.50.5–0.1–0.3–0.4
  - Net Debtor Economies — Net Lending and Borrowing: –1.9–2.4–2.1–2.5–1.9–0.6–1.9–2.6–2.2–2.2–2.0
  - Net Debtor Economies with Arrears and/or Rescheduling during 2017–21 — Net Lending and Borrowing: –2.5–4.1–4.4–3.6–3.4–2.0–2.2–1.6–2.3–2.8–2.3

### World Medium-Term Baseline Scenario (Table A15, Section 5)
- World Real GDP (Annual Percent Change)
  - World: 3.9 2.9 6.3 3.4 2.8 3.0 3.9 3.1
  - Advanced Economies: 1.5 1.7 5.4 2.7 1.3 1.4 2.7 1.8
  - Emerging Market and Developing Economies: 6.1 3.9 6.9 4.0 3.9 4.2 4.7 3.9

- Potential Output (Memorandum)
  - Major Advanced Economies: 1.4 1.2 2.0 1.5 1.6 1.6 1.7 1.6

- World Trade, Volume
  - World: 4.7 2.9 10.6 5.1 2.4 3.5 5.4 3.5
  - Imports — Advanced Economies: 3.2 3.0 10.0 6.6 1.8 2.7 5.2 3.0
  - Imports — Emerging Market and Developing Economies: 8.0 2.7 11.7 3.5 3.3 5.1 5.8 4.4
  - Exports — Advanced Economies: 4.0 2.7 9.5 5.2 3.0 3.1 5.2 2.9
  - Exports — Emerging Market and Developing Economies: 6.2 3.2 12.5 4.1 1.6 4.3 5.5 4.2

- Terms of Trade
  - Advanced Economies: –0.3 0.3 0.7 –2.1 0.3 0.6 –0.1 0.2
  - Emerging Market and Developing Economies: 1.3 –0.6 1.1 1.3 –2.6 0.1 –0.1 –0.1

- World Prices in US Dollars
  - Manufactures: 1.9 1.1 6.6 10.1 1.1 2.9 5.1 1.7
  - Oil: 9.8 –3.3 65.8 39.2 –24.1 –5.8 13.3 –2.3
  - Nonfuel Primary Commodities: 6.2 2.3 26.4 7.4 –2.8 –1.0 6.9 0.0

- Consumer Prices (Medium-Term)
  - Advanced Economies: 1.9 2.4 3.1 7.3 4.7 2.6 4.4 2.0
  - Emerging Market and Developing Economies: 6.2 5.9 5.9 9.8 8.6 6.5 7.7 4.7

- Interest Rates
  - World Real Long-Term Interest Rate (GDP-weighted average): 1.2 –0.7 –2.5 –5.0 –1.4 0.8 –2.0 1.1

- Current Account Balances (Medium-Term)
  - Advanced Economies: –0.4 0.5 0.8 –0.4 0.0 0.3 0.2 0.4
  - Emerging Market and Developing Economies: 2.2 0.2 0.8 1.4 0.3 0.0 0.6 –0.3

- External Debt and Debt Service (Emerging Market and Developing Economies)
  - Total External Debt (Percent of GDP): 27.1 30.2 31.5 29.1 28.1 27.4 29.0 26.2
  - Debt Service (Percent of exports or as stated in source): 9.5 10.7 10.6 10.6 10.0 9.6 10.2 9.4

### Notes and Methodology (Section 5)
- Estimates are based on individual countries’ national accounts and balance of payments statistics.
- Country group composites are calculated as the sum of the US dollar values for the relevant individual countries.
- Estimates of gross national savings and investment are from individual countries’ national accounts statistics.
- Estimates of the current account balance, the capital account balance, and the financial account balance (or net lending/net borrowing) are from the balance of payments statistics.
- Identities: Savings (S) minus investment (I) equals the current account balance (CAB) (S − I = CAB). Net lending/net borrowing (NLB) equals CAB + KAB.
- In practice, these identities do not hold exactly; imbalances result from imperfections in source data and compilation as well as from asymmetries in group composition due to data availability.

*Source: tablea1 - Section 5, Table A13–A15 excerpts (World Economic Outlook: A Rocky Recovery, April 2023).*

### Section 1

### tablea1 - Section 1

### Summary of World Output (Real GDP, annual percent change)
- World: 3.9; 3.4; 3.3; 3.8; 3.6; 2.8; –2.8; 6.3; 3.4; 2.8; 3.0; 3.0
- Advanced Economies: 1.5; 2.3; 1.8; 2.5; 2.3; 1.7; –4.2; 5.4; 2.7; 1.3; 1.4; 1.8
  - United States: 1.6; 2.7; 1.7; 2.2; 2.9; 2.3; –2.8; 5.9; 2.1; 1.6; 1.1; 2.1
  - Euro Area: 0.8; 2.0; 1.9; 2.6; 1.8; 1.6; –6.1; 5.4; 3.5; 0.8; 1.4; 1.4
  - Japan: 0.5; 1.6; 0.8; 1.7; 0.6; –0.4; –4.3; 2.1; 1.1; 1.3; 1.0; 0.4
- Other Advanced Economies: 2.6; 2.1; 2.3; 3.0; 2.5; 1.9; –4.1; 5.8; 3.1; 1.3; 1.9; 2.0
- Emerging Market and Developing Economies: 6.1; 4.4; 4.4; 4.7; 4.7; 3.6; –1.8; 6.9; 4.0; 3.9; 4.2; 3.9

### Regional Groups (selected series, annual percent change)
- Emerging and Developing Asia: 8.3; 6.8; 6.8; 6.6; 6.4; 5.2; –0.5; 7.5; 4.4; 5.3; 5.1; 4.4
- Emerging and Developing Europe: 3.7; 1.0; 1.8; 4.2; 3.6; 2.5; –1.6; 7.3; 0.8; 1.2; 2.5; 2.3
- Latin America and the Caribbean: 3.5; 0.4; –0.6; 1.4; 1.2; 0.2; –6.8; 7.0; 4.0; 1.6; 2.2; 2.3
- Middle East and Central Asia: 4.5; 3.0; 4.3; 2.2; 2.8; 1.6; –2.7; 4.6; 5.3; 2.9; 3.5; 3.7
- Sub-Saharan Africa: 5.5; 3.2; 1.5; 2.9; 3.2; 3.3; –1.7; 4.8; 3.9; 3.6; 4.2; 4.4

### Analytical Groups (annual percent change)
- By Source of Export Earnings
  - Fuel exporters: 4.6; 1.7; 1.4; 0.7; 0.6; –0.5; –3.7; 4.1; 4.8; 3.1; 3.2; 2.9
  - Nonfuel exporters: 6.3; 4.7; 4.8; 5.2; 5.1; 4.1; –1.6; 7.2; 3.9; 4.0; 4.3; 4.0
  - Of which, Primary Products: 4.3; 2.6; 1.6; 2.8; 1.6; 1.0; –5.7; 8.0; 3.8; 1.8; 3.4; 3.0
- By External Financing Source
  - Net Debtor Economies: 5.2; 4.1; 4.0; 4.7; 4.6; 3.3; –3.2; 6.6; 4.8; 3.7; 4.5; 4.6
  - Economies with Arrears and/or Rescheduling during 2017–21: 4.5; 1.5; 2.9; 3.3; 3.6; 3.4; –0.9; 3.4; 0.6; 2.7; 4.3; 5.1

### Memorandum and Output per Capita
- Median Growth Rate
  - Advanced Economies: 1.7; 2.3; 2.2; 3.0; 2.8; 2.0; –4.3; 5.9; 3.4; 1.3; 1.7; 2.1
  - Emerging Market and Developing Economies: 4.6; 3.4; 3.4; 3.7; 3.5; 3.1; –3.5; 4.6; 4.0; 3.4; 3.6; 3.4
- Output per Capita (in international dollars at purchasing power parity)
  - Advanced Economies: 0.9; 1.7; 1.3; 2.1; 1.9; 1.3; –4.7; 5.3; 2.3; 0.9; 1.0; 1.4
  - Emerging Market and Developing Economies: 4.4; 2.8; 2.9; 3.3; 3.3; 2.3; –3.1; 6.1; 2.8; 2.8; 3.0; 2.7

### World Growth Rate Based on Market Exchange Rates and Value of World Output
- World growth rate based on market exchange rates (annual percent change): 2.6; 2.8; 2.6; 3.3; 3.2; 2.5; –3.2; 6.0; 3.0; 2.4; 2.4; 2.6
- Value of World Output (billions of US dollars)
  - At Market Exchange Rates: 65,531; 74,968; 76,228; 81,051; 85,967; 87,284; 84,895; 96,314; 100,218; 105,569; 110,764; 134,950
  - At Purchasing Power Parities: 89,412; 111,934; 116,227; 122,392; 129,799; 135,745; 133,368; 147,910; 163,510; 174,471; 183,654; 223,272

*Source: WORLD ECONOMIC OUTLOOK: A ROCKY RECOVERY — Table A1 (Real GDP and related series), Statistical Appendix, International Monetary Fund | April 2023*

### Section 2

### tablea1 - Section 2

### Table A4 — Emerging Market and Developing Economies: Real GDP (Sub-Saharan Africa and selected countries)
- Sub-Saharan Africa (series): 5.53.21.52.93.23.3–1.74.83.93.64.24.4
- Selected country series (annual percent change):
  - Angola: 7.80.9–2.6–0.2–1.3–0.7–5.61.12.83.53.74.2
  - Democratic Republic of the Congo: 7.26.40.43.74.84.51.76.26.66.36.56.5
  - Ethiopia: 10.810.48.010.27.79.06.16.36.46.16.47.0
  - Nigeria: 6.92.7–1.60.81.92.2–1.83.63.33.23.03.0
  - South Africa: 3.01.30.71.21.50.3–6.34.92.00.11.81.4
  - Tanzania: 6.46.26.96.87.07.04.84.94.75.26.27.0
  - Zimbabwe (note marker 1 present): 2.61.80.55.04.7–6.1–7.88.53.02.52.62.9

### Table A5 — Summary of Inflation (GDP deflators, Consumer Prices; regional and analytical groups)
- GDP Deflators — Advanced Economies (series): 1.51.31.01.51.71.51.63.15.43.92.51.8
- GDP Deflators — United States (series): 2.01.01.01.92.41.81.34.57.03.82.21.9
- Consumer Prices — Advanced Economies (annual averages): 1.90.30.71.72.01.40.73.17.34.72.61.9
- Consumer Prices — Emerging Market and Developing Economies (annual averages): 6.24.84.44.54.95.15.25.99.88.66.54.4
- Regional groups (consumer prices, annual averages):
  - Emerging and Developing Asia: 4.92.72.92.42.63.33.22.23.83.43.02.9
  - Emerging and Developing Europe: 8.010.75.65.66.46.75.49.627.919.713.28.0
  - Latin America and the Caribbean: 4.85.45.56.36.67.76.49.814.013.39.05.7
  - Middle East and Central Asia: 8.45.65.97.110.07.610.412.814.315.912.06.4
  - Sub-Saharan Africa: 8.36.710.110.58.38.110.111.014.514.010.57.3
- Analytical groups (consumer prices, annual averages):
  - By Source of Export Earnings — Fuel: 8.05.98.16.99.57.39.912.214.713.29.98.0
  - By Source of Export Earnings — Nonfuel: 5.94.64.04.24.44.94.75.29.38.26.14.1
  - Net Debtor Economies: 7.15.85.55.85.85.66.17.613.211.58.35.1
  - Economies with Arrears and/or Rescheduling during 2017–21: 10.313.010.815.514.511.814.117.722.122.716.16.3
- Memorandum — Median Inflation Rate:
  - Advanced Economies: 2.10.10.41.61.71.40.32.58.15.02.92.0
  - Emerging Market and Developing Economies: 5.22.62.73.33.22.62.83.98.16.34.43.0

### Table A6 — Advanced Economies: Consumer Prices (end of period, annual percent change)
- Advanced Economies (end-of-period series): 1.90.30.71.72.01.40.73.17.34.72.61.97.33.32.3
- United States (end-of-period series): 2.30.11.32.12.41.81.34.78.04.52.32.16.63.02.1
- Euro Area (end-of-period series, based on harmonized index): 1.90.20.21.51.81.20.32.68.45.32.91.99.23.82.7
- Japan (end-of-period series): 0.20.8–0.10.51.00.50.0–0.22.52.72.21.5
- Major Advanced Economies (memorandum): 1.90.30.81.82.11.50.83.37.34.72.52.07.33.22.2

### Table A7 — Emerging Market and Developing Economies: Consumer Prices (end of period, annual percent change)
- Emerging and Developing Asia (end-of-period series): 4.92.72.92.42.63.33.22.23.83.43.02.94.03.72.4
- Selected Asia countries (end-of-period series):
  - China: 2.91.52.11.51.92.92.50.91.92.02.22.21.83.21.3
  - India: 8.44.94.53.63.44.86.25.56.74.94.44.06.34.54.3
  - Indonesia: 7.16.43.53.83.32.82.01.64.24.43.02.55.53.22.8
- Emerging and Developing Europe (end-of-period series): 8.010.75.65.66.46.75.49.627.919.713.28.026.816.611.3
- Latin America and the Caribbean (end-of-period series): 4.85.45.56.36.67.76.49.814.013.39.05.714.711.87.7
- Middle East and Central Asia (end-of-period series): 8.45.65.97.110.07.610.412.814.315.912.06.415.615.39.6
- Sub-Saharan Africa (end-of-period series): 8.36.710.110.58.38.110.111.014.514.010.57.316.112.39.6
- Selected country extremes and notable series (end-of-period):
  - Venezuela (Latin America and the Caribbean): 27.7121.7254.9438.165,374.119,906.02,355.11,588.5200.9400.0200.0. . .310.1250.0230.0
  - Sudan (Middle East and Central Asia memo): 19.116.917.832.463.351.0163.3359.1138.871.651.918.287.365.348.5
  - Zimbabwe (Sub-Saharan Africa memo): –2.7–2.4–1.60.910.6255.3557.298.5193.4172.2134.620.8243.8181.8120.2

*International Monetary Fund, World Economic Outlook: A Rocky Recovery — Statistical Appendix (tables and series as presented in the source).*

### Section 3

### tablea1 - Section 3: Major Advanced Economies: General Government Fiscal Balances and Debt

### Major Advanced Economies — Composite Indicators
- Net Lending/Borrowing: –5.2 –3.0 –3.3 –3.3 –3.3 –3.8 –11.6 –9.1 –5.4 –5.6 –5.3 –5.0
- Output Gap (Percent of potential GDP): –2.2 –1.9 –1.6 –0.7 0.2 0.4 –3.1 0.0 0.8 0.2 –0.3 0.0
- Structural Balance (Percent of potential GDP): –4.0 –2.2 –2.7 –3.0 –3.2 –3.8 –8.1 –7.9 –5.2 –5.5 –5.0 –4.9

### United States
- Net Lending/Borrowing: –6.5 –3.5 –4.4 –4.8 –5.3 –5.7 –14.0 –11.6 –5.5 –6.3 –6.8 –6.8
- Output Gap (Percent of potential GDP): –4.0 –2.5 –2.1 –1.3 0.0 0.7 –2.5 1.5 1.4 0.9 –0.1 0.0
- Structural Balance (Percent of potential GDP): –4.4 –2.5 –3.6 –4.3 –5.1 –6.0 –10.7 –10.7 –5.9 –6.6 –6.7 –6.7
- Net Debt: 63.9 80.9 81.8 80.4 81.1 83.1 98.3 98.3 94.2 95.5 99.8 110.5
- Gross Debt: 86.1 105.1 107.2 106.2 107.4 108.7 133.5 126.4 121.7 122.2 125.8 136.2

### Euro Area (aggregate)
- Net Lending/Borrowing: –3.3 –1.9 –1.5 –0.9 –0.4 –0.6 –7.1 –5.4 –3.8 –3.7 –2.8 –1.9
- Output Gap (Percent of potential GDP): –0.7 –2.4 –1.7 –0.6 –0.1 0.1 –4.6 –2.0 0.2 –0.4 –0.5 0.1
- Structural Balance (Percent of potential GDP): –2.7 –0.5 –0.5 –0.4 –0.3 –0.5 –4.0 –3.8 –2.8 –3.1 –2.5 –2.0
- Net Debt: 64.6 75.1 74.6 72.4 70.6 69.0 79.0 77.8 74.8 74.5 74.3 72.4
- Gross Debt: 80.2 90.9 90.1 87.6 85.6 83.5 96.6 94.9 90.9 89.8 89.0 85.4

### Germany
- Net Lending/Borrowing: –1.3 1.0 1.2 1.3 1.9 1.5 –4.3 –3.7 –2.6 –3.7 –1.9 –0.5
- Output Gap (Percent of potential GDP): –0.1 –0.4 0.1 1.0 0.8 0.4 –3.0 –1.3 0.4 –0.9 –0.9 0.0
- Structural Balance (Percent of potential GDP): –1.0 1.2 1.2 1.1 1.6 1.3 –2.9 –3.0 –2.6 –3.2 –1.4 –0.5
- Net Debt: 57.5 52.2 49.3 45.0 42.2 40.1 45.4 45.6 45.1 46.7 46.8 42.7
- Gross Debt: 73.3 71.9 69.0 64.6 61.3 58.9 68.0 68.6 66.5 67.2 66.5 59.6

### France
- Net Lending/Borrowing: –4.4 –3.6 –3.6 –3.0 –2.3 –3.1 –9.0 –6.5 –4.9 –5.3 –4.8 –4.0
- Output Gap (Percent of potential GDP): –0.6 –2.4 –2.7 –1.5 –0.8 0.0 –4.7 –1.9 –0.7 –1.1 –1.2 0.2
- Structural Balance (Percent of potential GDP): –4.0 –2.1 –1.9 –1.9 –1.5 –2.1 –5.8 –5.2 –4.4 –4.6 –4.1 –4.1
- Net Debt: 70.3 86.3 89.2 89.4 89.2 88.9 101.7 100.6 99.0 99.4 100.4 103.0
- Gross Debt: 78.7 95.4 96.2 98.1 97.8 97.4 114.7 112.6 111.1 111.4 112.4 115.0

### Italy
- Net Lending/Borrowing: –3.3 –2.6 –2.4 –2.4 –2.2 –1.5 –9.7 –9.0 –8.0 –3.7 –3.3 –0.7
- Output Gap (Percent of potential GDP): –0.9 –3.9 –3.1 –1.8 –1.2 –1.0 –6.2 –3.5 0.1 0.0 0.0 0.5
- Structural Balance (Percent of potential GDP): –3.0 –0.4 –1.0 –1.5 –1.6 –0.9 –6.1 –6.7 –2.4 –2.0 –3.0 –1.0
- Net Debt: 106.7 122.2 121.6 121.3 121.8 121.7 141.4 137.3 133.0 129.3 129.4 122.6
- Gross Debt: 117.3 135.3 134.8 134.8 134.4 134.1 154.9 149.8 144.7 140.3 140.0 131.9

### Japan
- Net Lending/Borrowing: –6.4 –3.7 –3.6 –3.1 –2.5 –3.0 –9.1 –6.2 –7.8 –6.4 –4.0 –3.7
- Output Gap (Percent of potential GDP): 0.2 –0.2 0.1 1.0 1.9 0.7 –2.9 –1.6 –0.9 –0.1 0.2 0.0
- Structural Balance (Percent of potential GDP): –6.2 –4.5 –4.5 –3.7 –3.0 –3.3 –8.1 –6.2 –7.8 –6.4 –4.1 –3.7
- Net Debt: 120.8 144.5 149.5 148.1 151.1 151.7 162.3 156.9 162.7 161.0 159.3 161.3
- Gross Debt (Nonconsolidated basis): 201.5 228.3 232.4 231.3 232.4 236.4 258.7 255.4 261.3 258.2 256.3 264.0

### United Kingdom
- Net Lending/Borrowing: –5.9 –4.5 –3.3 –2.4 –2.2 –2.2 –13.0 –8.3 –6.3 –5.8 –4.4 –3.7
- Output Gap (Percent of potential GDP): –2.7 –2.6 –2.2 –1.3 –1.0 –0.8 –3.6 0.5 1.8 –0.5 –0.8 0.0
- Structural Balance (Percent of potential GDP): –3.9 –2.5 –1.6 –1.3 –1.4 –1.6 0.8 –3.6 –4.5 –4.3 –2.8 –3.8
- Net Debt: 57.5 78.2 77.6 76.2 75.4 74.6 94.5 96.7 91.9 95.1 98.2 101.2
- Gross Debt: 64.1 86.7 86.6 85.6 85.2 84.5 105.6 108.1 102.6 106.2 109.7 113.1

### Canada
- Net Lending/Borrowing: –1.0 –0.1 –0.5 –0.1 0.4 0.0 –10.9 –4.4 –0.7 –0.4 –0.4 0.0
- Output Gap (Percent of potential GDP): 0.1 –0.1 –0.9 0.4 0.6 0.4 –3.4 –1.4 0.8 0.1 –0.4 0.0
- Structural Balance (Percent of potential GDP): –1.1 0.0 0.0 –0.3 0.0 –0.2 –8.1 –3.3 –1.2 –0.5 –0.1 0.0
- Net Debt (Includes equity shares): 25.9 18.5 18.0 12.5 11.6 8.5 15.7 15.4 13.9 14.1 13.9 12.0
- Gross Debt: 78.9 92.0 92.4 90.9 90.8 90.2 118.9 115.1 106.6 105.1 102.2 91.1

*Note: Debt data refer to the end of the year and are not always comparable across countries. Gross and net debt levels reported by national statistical agencies for countries that have adopted the System of National Accounts 2008 (Australia, Canada, Hong Kong SAR, United States) are adjusted to exclude unfunded pension liabilities of government employees’ defined-benefit pension plans. Percent of potential GDP. Figures reported by the national statistical agency are adjusted to exclude items related to the accrual-basis accounting of government employees’ defined-benefit pension plans. Nonconsolidated basis. Includes equity shares.*

*Source: tablea1 - Section 3 (Major Advanced Economies: General Government Fiscal Balances and Debt).*

### Section 4

### Table A12. Emerging Market and Developing Economies: Current Account Balance (Percent of GDP)

### Emerging and Developing Asia (regional aggregate and selected country series)
- Regional series (Emerging and Developing Asia): 1.9, 1.3, 0.9, –0.3, 0.5, 1.5, 1.0, 1.1, 0.7, 0.5, –0.1
- Bangladesh: 1.2, 1.6, –0.5, –3.0, –1.3, –1.5, –1.1, –4.1, –2.1, –4.2, –3.0
- China: 2.6, 1.7, 1.5, 0.2, 0.7, 1.7, 1.8, 2.3, 1.4, 1.1, 0.4
- India: –1.0, –0.6, –1.8, –2.1, –0.9, 0.9, –1.2, –2.6, –2.2, –2.2, –2.5
- Indonesia: –2.0, –1.8, –1.6, –2.9, –2.7, –0.4, 0.3, 1.0, –0.3, –0.7, –1.5
- Malaysia: 3.0, 2.4, 2.8, 2.2, 3.5, 4.2, 3.8, 2.6, 2.6, 2.7, 3.0

### Emerging and Developing Europe (regional aggregate and selected country series)
- Regional series (Emerging and Developing Europe): 1.0, –0.3, –0.7, 1.6, 1.3, 0.1, 1.5, 2.4, –0.8, –0.7, –0.8
- Bulgaria: 0.0, 3.1, 3.3, 0.9, 1.9, 0.0, –1.9, –0.7, –0.5, –1.0, –0.5
- Hungary: 2.3, 4.5, 2.0, 0.2, –0.8, –1.1, –4.2, –8.1, –4.6, –1.9, 0.1
- Poland: –1.3, –1.0, –1.2, –1.9, –0.2, 2.5, –1.4, –3.2, –2.4, –2.1, –2.0
- Romania: –0.8, –1.6, –3.1, –4.6, –4.9, –4.9, –7.2, –9.3, –7.9, –7.7, –6.2
- Russia: 5.0, 1.9, 2.0, 7.0, 3.9, 2.4, 6.7, 10.3, 3.6, 3.2, 2.2
- Türkiye: –3.1, –3.1, –4.7, –2.6, 1.4, –4.4, –0.9, –5.4, –4.0, –3.2, –2.1

### Latin America and the Caribbean (regional aggregate and selected country series)
- Regional series (Latin America and the Caribbean): –3.6, –2.2, –1.8, –2.7, –2.2, –0.4, –2.0, –2.5, –1.8, –1.7, –1.6
- Argentina: –2.7, –2.7, –4.8, –5.2, –0.8, 0.8, 1.4, –0.7, 1.0, 0.8, 1.0
- Brazil: –3.5, –1.7, –1.2, –2.9, –3.6, –1.9, –2.8, –2.9, –2.7, –2.7, –2.4
- Chile: –2.7, –2.6, –2.8, –4.5, –5.2, –1.9, –7.3, –9.0, –4.2, –3.8, –3.0
- Colombia: –6.4, –4.5, –3.2, –4.2, –4.6, –3.5, –5.6, –6.2, –5.1, –4.6, –4.0
- Mexico: –2.8, –2.4, –1.9, –2.1, –0.4, 2.1, –0.6, –0.9, –1.0, –1.0, –1.0
- Peru: –4.6, –2.2, –0.9, –1.3, –0.7, 1.2, –2.3, –4.5, –2.1, –2.3, –1.5

### Middle East and Central Asia (regional aggregate and selected country series)
- Regional series (Middle East and Central Asia): –3.8, –4.0, –1.1, 3.0, 0.4, –3.0, 3.3, 7.5, 3.6, 2.1, –0.1
- Algeria: –16.4, –16.5, –13.3, –9.7, –9.9, –12.8, –2.8, 7.2, 0.8, –2.7, –5.8
- Egypt: –3.5, –5.6, –5.8, –2.3, –3.4, –2.9, –4.4, –3.5, –2.8, –3.1, –2.4
- Iran: 0.3, 2.9, 3.1, 10.7, –0.7, –0.4, 3.9, 4.7, 1.8, 1.9, 2.2
- Kazakhstan: –3.7, –6.2, –3.3, –0.5, –4.6, –4.4, –4.0, 2.8, –1.9, –2.0, –3.1
- Saudi Arabia: –8.5, –3.6, 1.5, 8.5, 4.6, –3.1, 5.1, 13.8, 6.2, 3.6, –1.0
- United Arab Emirates: 4.7, 3.6, 7.0, 9.7, 8.9, 6.0, 11.6, 11.7, 7.1, 7.0, 6.5

### Sub-Saharan Africa (regional aggregate and selected country series)
- Regional series (Sub-Saharan Africa): –5.7, –3.6, –2.1, –2.1, –3.0, –2.8, –1.1, –2.0, –2.6, –2.7, –2.0
- Angola: –8.8, –3.1, –0.5, 7.3, 6.1, 1.5, 11.2, 11.0, 6.2, 3.1, 0.8
- Botswana: 2.2, 8.0, 5.6, 0.4, –6.9, –8.7, –0.5, 3.1, 3.3, 5.4, 4.5
- Ethiopia: –11.5, –10.9, –8.5, –6.5, –5.3, –4.6, –3.2, –4.3, –3.4, –2.6, –1.7
- Nigeria: –3.1, 1.3, 3.6, 1.7, –3.1, –3.7, –0.4, –0.7, –0.6, –0.5, –0.2
- South Africa: –4.3, –2.7, –2.4, –2.9, –2.6, 2.0, 3.7, –0.5, –2.3, –2.6, –2.0
- Zambia: –2.7, –3.3, –1.7, –1.3, 0.4, 10.6, 9.2, 2.4, 3.8, 4.5, 7.3

*Table A12. Emerging Market and Developing Economies: Current Account Balance (Percent of GDP) — source content provided.*

### Section 5

### tablea1 - Section 5

### Financial Account Balances (Excerpt)
- Other Investment, Net: –26.0–32.6–8.8–2.96.312.55.5–6.4–12.2–26.9
- Change in Reserves: –3.63.915.84.10.1–18.79.4–22.38.224.1
- World Financial Account Balance (Billions of US dollars): –37.5–10.8110.0188.8–9.7–30.2713.0387.2231.8259.2

### Table A14 — Summary of Net Lending and Borrowing (Percent of GDP)
- World (Memorandum)
  - Net Lending and Borrowing: 0.40.40.60.30.40.40.80.30.20.20.1
  - Current Account Balance: 0.40.40.60.40.40.30.80.30.20.20.1
  - Savings: 25.325.626.727.027.027.027.928.027.527.627.7
  - Investment: 24.925.126.026.526.526.327.027.527.227.327.5
  - Capital Account Balance: 0.00.00.00.00.00.00.10.00.10.10.0

- Advanced Economies (Averages and Projections)
  - Net Lending and Borrowing: –0.40.31.00.70.70.20.8–0.50.10.40.4
  - Current Account Balance: –0.40.31.00.70.70.20.8–0.40.00.30.4
  - Savings: 21.821.723.323.423.623.123.723.222.923.123.3
  - Investment: 22.121.322.122.422.622.322.623.222.522.522.5
  - Capital Account Balance: 0.00.00.0–0.1–0.10.00.10.00.10.10.0

- United States
  - Net Lending and Borrowing: –3.7–2.5–1.8–2.2–2.1–3.0–3.6–3.6–2.7–2.5–2.3
  - Current Account Balance: –3.7–2.4–1.9–2.1–2.1–2.9–3.6–3.6–2.7–2.5–2.3
  - Savings: 17.217.719.519.619.719.318.018.719.019.219.2
  - Investment: 20.719.820.821.221.321.121.121.621.021.020.9
  - Capital Account Balance: 0.00.00.10.00.00.00.00.00.00.00.0

- Euro Area
  - Net Lending and Borrowing: 0.41.42.92.52.01.62.70.2. . .. . .. . .
  - Current Account Balance: 0.31.33.12.82.21.62.3–0.70.60.91.6
  - Savings: 22.722.624.825.326.024.926.825.325.125.526.3
  - Investment: 21.620.421.321.922.922.323.024.423.723.623.7
  - Capital Account Balance: 0.10.1–0.2–0.3–0.20.00.41.0. . .. . .. . .

- Germany
  - Net Lending and Borrowing: 6.27.07.88.08.16.87.73.74.75.15.9
  - Current Account Balance: 6.27.07.88.08.27.17.74.24.75.15.9
  - Savings: 26.527.028.829.930.329.131.029.028.428.829.8
  - Investment: 20.320.021.021.922.122.123.324.823.823.723.8
  - Capital Account Balance: 0.00.0–0.10.0–0.1–0.30.0–0.50.00.00.0

- France
  - Net Lending and Borrowing: –0.5–0.7–0.8–0.70.6–1.70.8–1.6–1.2–0.6–0.5
  - Current Account Balance: –0.5–0.7–0.8–0.80.5–1.80.4–1.7–1.2–0.7–0.5
  - Savings: 22.321.822.723.024.921.925.424.023.223.623.8
  - Investment: 22.822.423.423.924.423.725.025.824.723.923.6
  - Capital Account Balance: 0.00.00.00.10.10.10.50.10.10.10.1

- Italy
  - Net Lending and Borrowing: –1.1–0.12.72.63.23.92.9–0.71.61.82.0
  - Current Account Balance: –1.2–0.12.72.63.33.93.0–0.70.71.01.7
  - Savings: 18.818.220.721.121.621.623.721.022.522.924.3
  - Investment: 19.918.418.118.518.217.720.721.821.821.922.6
  - Capital Account Balance: 0.10.10.10.0–0.10.1–0.10.00.90.80.3

- Spain
  - Net Lending and Borrowing: –3.70.33.02.42.41.11.92.22.52.11.7
  - Current Account Balance: –4.1–0.22.81.92.10.6 1.01.10.90.81.3
  - Savings: 19.719.522.222.322.921.021.822.021.922.422.7
  - Investment: 23.919.719.420.520.820.420.820.921.021.621.4
  - Capital Account Balance: 0.40.40.20.50.30.50.91.21.61.20.4

- Japan
  - Net Lending and Borrowing: 2.52.24.13.53.42.93.92.12.93.93.8
  - Current Account Balance: 2.62.34.13.53.42.93.92.13.04.03.9
  - Savings: 27.226.329.329.229.228.229.528.828.929.529.4
  - Investment: 24.624.025.225.625.825.325.626.625.925.525.6
  - Capital Account Balance: –0.1–0.1–0.10.0–0.10.0–0.10.0–0.1–0.1–0.1

- United Kingdom
  - Net Lending and Borrowing: –3.5–4.0–3.7–4.2–2.9–3.3–1.6–5.6–5.3–4.5–3.7
  - Current Account Balance: –3.4–4.0–3.6–4.1–2.8–3.2–1.5–5.6–5.2–4.4–3.7
  - Savings: 13.412.514.713.915.314.016.413.712.112.413.5
  - Investment: 16.816.518.318.018.117.217.919.317.316.817.1
  - Capital Account Balance: –0.1–0.1–0.1–0.1–0.1–0.1–0.1–0.1–0.1–0.1–0.1

- Canada
  - Net Lending and Borrowing: –1.4–3.1–2.8–2.4–2.0–2.2–0.3–0.4–1.1–1.1–1.8
  - Current Account Balance: –1.4–3.1–2.8–2.4–2.0–2.2–0.3–0.4–1.1–1.1–1.8
  - Savings: 22.520.820.721.021.120.123.524.222.122.121.6
  - Investment: 23.823.923.623.423.022.323.824.523.323.223.4
  - Capital Account Balance: 0.00.00.00.00.00.00.00.00.00.00.0

- Other Advanced Economies (1)
  - Net Lending and Borrowing: 4.04.54.74.74.65.36.97.16.26.05.4
  - Current Account Balance: 4.14.64.74.54.75.26.97.16.25.95.4
  - Savings: 30.630.530.930.530.331.533.233.632.232.031.8
  - Investment: 26.325.725.925.925.526.026.026.125.926.026.3
  - Capital Account Balance: –0.1–0.10.10.20.00.10.00.00.00.00.0

- Emerging Market and Developing Economies
  - Net Lending and Borrowing: 2.20.8–0.1–0.20.10.60.91.40.40.1–0.2
  - Current Account Balance: 2.20.7–0.1–0.20.00.50.81.40.30.0–0.3
  - Savings: 32.332.331.732.432.132.834.134.533.633.633.2
  - Investment: 30.331.731.932.732.232.433.433.433.533.733.6
  - Capital Account Balance: 0.20.10.10.00.10.10.00.10.10.10.1

- Regional Groups (Selected)
  - Emerging and Developing Asia
    - Net Lending and Borrowing: 3.21.70.9–0.30.51.51.01.10.70.50.1
    - Current Account Balance: 3.11.60.9–0.30.51.51.01.10.70.50.1
    - Savings: 42.442.440.140.039.540.240.741.140.840.639.8
    - Investment: 39.540.839.240.239.138.739.740.040.140.239.7
    - Capital Account Balance: 0.10.00.00.00.00.00.00.00.00.00.0

  - Emerging and Developing Europe
    - Net Lending and Borrowing: –0.5–0.2–0.42.11.70.51.92.8–0.4–0.4–0.3
    - Current Account Balance: –0.6–0.5–0.71.61.30.11.52.4–0.8–0.7–0.7
    - Savings: 23.423.224.025.624.224.026.228.124.023.823.0
    - Investment: 23.823.624.723.723.023.924.725.825.124.824.0
    - Capital Account Balance: 0.10.20.30.40.40.50.40.40.40.40.3

  - Latin America and the Caribbean
    - Net Lending and Borrowing: –1.1–2.4–1.8–2.7–2.1–0.2–2.0–2.4–1.7–1.7–1.6
    - Current Account Balance: –1.2–2.5–1.8–2.7–2.2–0.4–2.0–2.5–1.8–1.7–1.6
    - Savings: 20.518.916.916.316.517.418.417.818.318.418.5
    - Investment: 21.721.418.719.018.717.820.620.420.120.120.2
    - Capital Account Balance: 0.10.10.00.00.10.20.00.00.00.00.0

  - Middle East and Central Asia
    - Net Lending and Borrowing: 8.94.5–1.32.60.4–3.03.07.63.51.90.5
    - Current Account Balance: 9.04.3–1.1 3.00.4–3.03.37.53.62.10.5
    - Savings: 36.232.126.428.726.522.327.332.228.927.826.7
    - Investment: 27.427.527.326.026.425.424.324.925.425.826.3
    - Capital Account Balance: 0.20.1–0.1–0.30.0–0.1–0.3–0.10.0–0.1–0.1

  - Sub-Saharan Africa
    - Net Lending and Borrowing: 1.0–1.9–1.6–1.7–2.6–2.4–0.7–1.6–2.1–2.3–2.0
    - Current Account Balance: –0.2–2.6–2.1–2.1–3.0–2.8–1.1–2.0–2.6–2.7–2.4
    - Savings: 20.619.018.519.319.820.021.620.120.120.420.8
    - Investment: 21.021.520.421.223.022.422.421.822.523.023.1
    - Capital Account Balance: 1.20.70.40.40.40.40.40.40.40.40.4

- Analytical Groups (Selected)
  - Fuel exporters
    - Net Lending and Borrowing: 11.96.01.25.32.1–2.34.710.25.23.72.0
    - Current Account Balance: 12.16.01.55.92.2–2.25.210.25.33.92.1
    - Savings: 39.234.129.532.230.226.231.736.231.830.829.1
    - Investment: 27.127.627.025.527.327.826.025.726.126.426.6
    - Capital Account Balance: 0.10.0–0.2–0.40.0–0.1–0.5–0.1–0.1–0.1–0.1

  - Nonfuel exporters
    - Net Lending and Borrowing: 0.70.0–0.2–0.7–0.20.80.50.5–0.1–0.3–0.4
    - Current Account Balance: 0.6–0.2–0.3–0.8–0.20.70.40.4–0.2–0.3–0.5
    - Savings: 31.332.032.032.532.233.434.334.433.833.833.5
    - Investment: 30.832.332.433.432.732.834.034.134.234.334.2
    - Capital Account Balance: 0.20.10.10.10.10.10.10.10.10.10.1

  - Net Debtor Economies
    - Net Lending and Borrowing: –1.9–2.4–2.1–2.5–1.9–0.6–1.9–2.6–2.2–2.2–2.0
    - Current Account Balance: –2.3–2.7–2.3–2.7–2.1–0.9–2.1–2.8–2.4–2.4–2.2
    - Savings: 23.322.922.422.822.723.123.422.923.123.323.9
    - Investment: 25.625.524.725.424.824.025.625.825.725.826.2
    - Capital Account Balance: 0.30.30.20.20.20.30.20.20.20.20.1

  - Net Debtor Economies with Arrears and/or Rescheduling during 2017–21
    - Net Lending and Borrowing: –2.5–4.1–4.4–3.6–3.4–2.0–2.2–1.6–2.3–2.8–2.3
    - Current Account Balance: –3.3–4.8–4.9–4.0–3.8–2.6–2.6–1.9–2.7–3.2–2.7
    - Savings: 20.919.118.419.718.517.217.818.818.719.820.6
    - Investment: 24.523.923.823.623.219.920.620.921.222.323.0
    - Capital Account Balance: 0.90.70.50.40.40.60.40.30.40.40.3

- Note: "1 Excludes the Group of Seven (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and euro area countries."

### Table A15 — Summary of World Medium-Term Baseline Scenario (Annual percent change; Percent; Percent of GDP)
- World Real GDP (Annual Percent Change)
  - World: 3.92.96.33.42.83.03.93.1
  - Advanced Economies: 1.51.75.42.71.31.42.71.8
  - Emerging Market and Developing Economies: 6.13.96.94.03.94.24.73.9

- Memorandum: Potential Output
  - Major Advanced Economies: 1.41.22.01.51.61.61.71.6

- World Trade, Volume (Data refer to trade in goods and services)
  - World: 4.72.910.65.12.43.55.43.5
  - Imports — Advanced Economies: 3.23.010.06.61.82.75.23.0
  - Imports — Emerging Market and Developing Economies: 8.02.711.73.53.35.15.84.4
  - Exports — Advanced Economies: 4.02.79.55.23.03.15.22.9
  - Exports — Emerging Market and Developing Economies: 6.23.212.54.11.64.35.54.2

- Terms of Trade
  - Advanced Economies: –0.30.30.7–2.10.30.6–0.10.2
  - Emerging Market and Developing Economies: 1.3–0.61.11.3–2.60.1–0.1–0.1

- World Prices in US Dollars
  - Manufactures: 1.91.16.610.11.12.95.11.7
  - Oil: 9.8–3.365.839.2–24.1–5.813.3–2.3
  - Nonfuel Primary Commodities: 6.22.326.47.4–2.8–1.06.90.0

- Consumer Prices
  - Advanced Economies: 1.92.43.17.34.72.64.42.0
  - Emerging Market and Developing Economies: 6.25.95.99.88.66.57.74.7

- Interest Rates
  - 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): 1.2–0.7–2.5–5.0–1.40.8–2.01.1

- Current Account Balances
  - Advanced Economies: –0.40.50.8–0.40.00.30.20.4
  - Emerging Market and Developing Economies: 2.20.20.81.40.30.00.6–0.3

- Total External Debt and Debt Service (Emerging Market and Developing Economies)
  - Total External Debt: 27.130.231.529.128.127.429.026.2 (Percent of GDP)
  - Debt Service: 9.510.710.610.610.09.610.29.4 (Percent of exports or as stated in source)

### Notes and Methodology (as stated)
- Estimates are based on individual countries’ national accounts and balance of payments statistics.
- Country group composites are calculated as the sum of the US dollar values for the relevant individual countries.
- The estimates of gross national savings and investment are from individual countries’ national accounts statistics.
- The estimates of the current account balance, the capital account balance, and the financial account balance (or net lending/net borrowing) are from the balance of payments statistics.
- Identities: Savings (S) minus investment (I) equals the current account balance (CAB) (S − I = CAB). Net lending/net borrowing (NLB) equals CAB + KAB.
- In practice, these identities do not hold exactly; imbalances result from imperfections in source data and compilation as well as from asymmetries in group composition due to data availability.

*Source: tablea1 - Section 5, Table A13–A15 excerpts (World Economic Outlook: A Rocky Recovery, April 2023).*

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_Source: https://www.imf.org/-/media/files/publications/weo/2023/april/english/tablea1.pdf_