## tableb

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### Unemployment, Employment Growth, and Real GDP per Capita — Advanced Economies (Table B1)
- Unemployment Rate (Percent) — Advanced Economies (averages and projections):
  - Averages 2006–15: 7.2; 2016–25: 5.2
  - Year series: 2016: 6.3; 2017: 5.7; 2018: 5.1; 2019: 4.8; 2020: 6.6; 2021: 5.6; 2022: 4.6; 2023: 4.4; 2024: 4.6; 2025: 4.7
- Selected country unemployment rates (Percent):
  - United States: 2016: 4.6; 2017: 4.9; 2018: 4.4; 2019: 3.9; 2020: 8.1; 2021: 5.4; 2022: 3.6; 2023: 3.6; 2024: 4.0; 2025: 4.2
  - Euro Area: 2016: 7.7; 2017: 10.1; 2018: 9.1; 2019: 8.2; 2020: 7.6; 2021: 8.0; 2022: 7.7; 2023: 6.7; 2024: 6.6; 2025: 6.4
  - Japan: 2016: 2.6; 2017: 3.1; 2018: 2.8; 2019: 2.4; 2020: 2.4; 2021: 2.8; 2022: 2.8; 2023: 2.6; 2024: 2.5; 2025: 2.5
  - Spain: 2016: 14.5; 2017: 19.6; 2018: 17.2; 2019: 15.3; 2020: 14.1; 2021: 15.5; 2022: 14.8; 2023: 12.9; 2024: 12.1; 2025: 11.6
- Growth in Employment (Compound annual rate of change) — Advanced Economies:
  - 2006–15: 0.5; 2016–25: 0.9
  - Year series: 2016: 1.5; 2017: 1.4; 2018: 1.5; 2019: 1.2; 2020: –2.7; 2021: 1.8; 2022: 2.6; 2023: 1.4; 2024: 0.5; 2025: 0.5
  - United States: 2016: 0.9; 2017: 1.7; 2018: 1.3; 2019: 1.6; 2020: 1.1; 2021: –6.2; 2022: 3.2; 2023: 3.7; 2024: 1.7; 2025: 0.7; 2026: 0.6
- Growth in Real GDP per Capita (Output per capita, international dollars at PPP; compound annual rate of change):
  - Advanced Economies: 2006–15: 0.9; 2016–25: 1.4
  - Year series: 2016: 1.3; 2017: 2.1; 2018: 1.9; 2019: 1.4; 2020: –4.5; 2021: 5.6; 2022: 2.2; 2023: 1.1; 2024: 1.3; 2025: 1.4
  - United States: 2016: 1.7; 2017: 1.1; 2018: 1.8; 2019: 2.4; 2020: 2.0; 2021: –3.0; 2022: 5.5; 2023: 1.6; 2024: 2.0; 2025: 2.1; 2026: 1.3
- Notes:
  - Compound annual rate of change for employment and output per capita; arithmetic average for unemployment rate.
  - National definitions of unemployment may vary.
  - Output per capita in international dollars at purchasing power parity.

### Real GDP and Output per Capita — Emerging Market and Developing Economies (Table B2)
- Real GDP (Annual percent change) — Emerging Market and Developing Economies:
  - Averages 2006–15: 5.7; 2016: 4.4; 2017: 4.8; 2018: 4.7; 2019: 3.6; 2020: –1.8; 2021: 7.0; 2022: 4.1; 2023: 4.3; 2024: 4.2; 2025: 4.2; 2029: 3.9
- Regional groups — Emerging and Developing Asia:
  - 2006–15: 7.9; 2016: 6.8; 2017: 6.6; 2018: 6.4; 2019: 5.2; 2020: –0.5; 2021: 7.7; 2022: 4.4; 2023: 5.6; 2024: 5.2; 2025: 4.9; 2029: 4.5
- Regional groups — Latin America and the Caribbean:
  - 2006–15: 3.0; 2016: –0.8; 2017: 1.4; 2018: 1.1; 2019: 0.2; 2020: –7.0; 2021: 7.3; 2022: 4.2; 2023: 2.3; 2024: 2.0; 2025: 2.5; 2029: 2.4
- Output per Capita — Emerging Market and Developing Economies:
  - 2006–15: 4.0; 2016: 2.8; 2017: 3.3; 2018: 3.3; 2019: 2.3; 2020: –3.1; 2021: 5.8; 2022: 3.0; 2023: 3.7; 2024: 3.1; 2025: 3.1; 2029: 2.9
- Notes:
  - Output per capita is in international dollars at purchasing power parity.
  - Excludes Venezuela but includes Argentina from 2017 onward.

### Hourly Earnings, Productivity, and Unit Labor Costs in Manufacturing — Advanced Economies (Table B3)
- Hourly Earnings (Annual percent change) — Advanced Economies:
  - 2006–15: 2.3; 2016: 3.0; 2017: 1.6; 2018: 2.5; 2019: 2.5; 2020: 2.2; 2021: 4.0; 2022: 1.6; 2023: 3.6; 2024: 4.6; 2025: 4.3; 2026: 3.3
  - United States example: 2016: 3.4; 2017: 0.7; 2018: 3.2; 2019: 2.4; 2020: 2.5; 2021: 6.6; 2022: 2.2; 2023: 3.3; 2024: 4.7; 2025: 4.9; 2026: 3.4
- Productivity (labor productivity) — Advanced Economies:
  - 2006–15: 1.2; 2016: 0.6; 2017: 1.0; 2018: 1.4; 2019: 0.5; 2020: –1.0; 2021: –0.2; 2022: 2.7; 2023: –0.2; 2024: –0.4; 2025: 1.3; 2026: 1.3
- Unit Labor Costs (Annual percent change) — Advanced Economies:
  - 2006–15: 1.2; 2016: 2.4; 2017: 0.6; 2018: 1.2; 2019: 2.0; 2020: 3.2; 2021: 4.3; 2022: –0.9; 2023: 3.8; 2024: 5.0; 2025: 2.9; 2026: 2.0
- Notes:
  - Productivity refers to labor productivity, measured as the ratio of hourly compensation to unit labor costs.
  - Unit labor costs data refer to unit wage cost for some countries as indicated.

### Consumer Prices — Emerging Market and Developing Economies (Table B4)
- Consumer Prices (Annual percent change) — Emerging Market and Developing Economies:
  - 2006–15: 6.0; 2016: 4.4; 2017: 4.5; 2018: 5.0; 2019: 5.1; 2020: 5.2; 2021: 5.9; 2022: 9.8; 2023: 8.3; 2024: 8.3; 2025: 6.2; 2029: 4.2
- Regional examples:
  - Emerging and Developing Asia: 2006–15: 4.7; 2016: 2.8; 2017: 2.5; 2018: 2.7; 2019: 3.3; 2020: 3.2; 2021: 2.3; 2022: 3.9; 2023: 2.4; 2024: 2.4; 2025: 2.8; 2029: 2.7
  - Emerging and Developing Europe: 2006–15: 8.1; 2016: 5.6; 2017: 5.6; 2018: 6.4; 2019: 6.7; 2020: 5.4; 2021: 9.6; 2022: 27.8; 2023: 19.4; 2024: 18.8; 2025: 13.1; 2029: 7.7
- Analytical groups:
  - Fuel exporters: 2006–15: 8.1; 2016: 7.7; 2017: 6.5; 2018: 8.9; 2019: 6.8; 2020: 9.3; 2021: 11.7; 2022: 13.7; 2023: 12.7; 2024: 12.7; 2025: 10.6; 2029: 7.8
  - Nonfuel exporters: 2006–15: 5.7; 2016: 3.9; 2017: 4.2; 2018: 4.5; 2019: 4.9; 2020: 4.7; 2021: 5.3; 2022: 9.4; 2023: 7.9; 2024: 7.9; 2025: 5.7; 2029: 3.8
- Notes:
  - Excludes Venezuela but includes Argentina from 2017 onward.

### Summary of Fiscal and Financial Indicators — Selected Aggregates (Table B5)
- Advanced Economies — Central Government Net Lending/Borrowing (Percent of GDP):
  - Series 2016–25: 2016: –2.5; 2017: –2.4; 2018: –2.4; 2019: –2.9; 2020: –9.8; 2021: –7.8; 2022: –3.8; 2023: –5.6; 2024: –4.4; 2025: –4.2
  - United States: 2016: –3.9; 2017: –4.3; 2018: –4.8; 2019: –5.4; 2020: –14.2; 2021: –12.5; 2022: –5.0; 2023: –8.7; 2024: –6.4; 2025: –6.7
  - Euro Area: 2016: –1.4; 2017: –1.4; 2018: –0.9; 2019: –1.0; 2020: –5.4; 2021: –4.6; 2022: –3.9; 2023: –3.4; 2024: –3.0; 2025: –2.6
- Advanced Economies — General Government Net Lending/Borrowing (Percent of GDP):
  - Series 2016–25: 2016: –2.7; 2017: –2.4; 2018: –2.4; 2019: –3.0; 2020: –10.2; 2021: –7.2; 2022: –3.1; 2023: –5.6; 2024: –4.4; 2025: –4.2
  - United States: 2016: –4.4; 2017: –4.8; 2018: –5.3; 2019: –5.8; 2020: –13.9; 2021: –11.1; 2022: –4.1; 2023: –8.8; 2024: –6.5; 2025: –7.1
- Long-Term Interest Rate (period averages):
  - Advanced Economies: 2016: 1.2; 2017: 1.6; 2018: 1.9; 2019: 1.2; 2020: 0.5; 2021: 0.9; 2022: 2.3; 2023: 3.3; 2024: 3.5; 2025: 3.4
  - United States: 2016: 1.8; 2017: 2.3; 2018: 2.9; 2019: 2.1; 2020: 0.9; 2021: 1.4; 2022: 3.0; 2023: 4.0; 2024: 4.2; 2025: 3.8
- Emerging Market and Developing Economies — Central Government Net Lending/Borrowing (Percent of GDP), weighted average:
  - Series 2016–25: 2016: –2.2; 2017: –1.7; 2018: –1.2; 2019: –1.4; 2020: –3.9; 2021: –2.1; 2022: –1.6; 2023: –2.2; 2024: –2.1; 2025: –1.7
- Emerging Market and Developing Economies — Growth of Broad Money (Weighted Average, annual percent change):
  - Series 2016–25: 2016: 11.0; 2017: 10.7; 2018: 12.6; 2019: 11.5; 2020: 14.5; 2021: 11.8; 2022: 11.0; 2023: 12.3; 2024: 11.8; 2025: 10.2
- Notes:
  - Fiscal data are percent of GDP; country-group composites for fiscal data are calculated as the sum of US dollar values for individual countries.

### General and Central Government Structural Balances — Advanced Economies (Section 2)
- Advanced Economies (composite) — General Government Structural Balances (Percent of potential GDP):
  - 2016 –2.2; 2017 –2.3; 2018 –2.5; 2019 –3.3; 2020 –7.1; 2021 –6.6; 2022 –4.7; 2023 –5.6; 2024 –4.5; 2025 –4.4
- Country examples:
  - United States: 2016 –3.6; 2017 –4.3; 2018 –5.1; 2019 –6.0; 2020 –10.6; 2021 –10.8; 2022 –6.8; 2023 –8.6; 2024 –6.7; 2025 –7.1
  - Germany: 2016 1.2; 2017 1.2; 2018 1.6; 2019 1.3; 2020 –2.9; 2021 –3.0; 2022 –2.2; 2023 –1.9; 2024 –0.9; 2025 –0.8
  - Japan: 2016 –4.5; 2017 –3.7; 2018 –3.0; 2019 –3.3; 2020 –8.1; 2021 –5.4; 2022 –4.3; 2023 –5.8; 2024 –6.6; 2025 –3.2
- Memorandum — Major Advanced Economies: 2016 –2.7; 2017 –3.0; 2018 –3.3; 2019 –3.9; 2020 –8.1; 2021 –7.9; 2022 –5.5; 2023 –6.8; 2024 –5.3; 2025 –5.2
- Note: structural balance defined as actual net lending/borrowing minus cyclical output effects and corrected for one-time and other factors.

### Emerging Market and Developing Economies: Fiscal Balances and Country Examples (Section 2)
- Composite — General Government Net Lending/Borrowing (Percent of GDP):
  - 2016 –4.3; 2017 –3.8; 2018 –3.5; 2019 –4.4; 2020 –8.5; 2021 –5.0; 2022 –4.9; 2023 –5.4; 2024 –5.5; 2025 –5.3
- Regional group series (selected):
  - Emerging and Developing Asia: 2016 –3.7; 2017 –3.6; 2018 –4.2; 2019 –5.6; 2020 –9.4; 2021 –6.2; 2022 –7.1; 2023 –6.7; 2024 –6.8; 2025 –6.9
  - Latin America and the Caribbean: 2016 –5.2; 2017 –5.3; 2018 –5.0; 2019 –3.8; 2020 –8.2; 2021 –3.8; 2022 –3.3; 2023 –5.0; 2024 –4.6; 2025 –3.3
- Selected country overall fiscal balances (Percent of GDP):
  - Indonesia: 2016 –2.6; 2017 –2.3; 2018 –1.8; 2019 –2.1; 2020 –6.1; 2021 –4.4; 2022 –2.2; 2023 –1.6; 2024 –2.2; 2025 –2.7
  - Brazil: 2016 –6.2; 2017 –8.2; 2018 –5.4; 2019 –3.4; 2020 –11.7; 2021 –1.6; 2022 –2.3; 2023 –7.5; 2024 –6.3; 2025 –5.4
  - China: 2016 –3.4; 2017 –3.4; 2018 –4.3; 2019 –6.1; 2020 –9.7; 2021 –6.0; 2022 –7.5; 2023 –7.1; 2024 –7.4; 2025 –7.6
  - India: 2016 –7.1; 2017 –6.2; 2018 –6.4; 2019 –7.7; 2020 –12.9; 2021 –8.6; 2022 –9.2; 2023 –8.6; 2024 –7.8; 2025 –7.6

### Exchange Rates and Real Effective Exchange Rates — Selected Advanced Economies (Section 2)
- Nominal exchange rates — US Dollars per National Currency Unit (selected series):
  - Euro: 2016 1.107; 2017 1.129; 2018 1.181; 2019 1.120; 2020 1.141; 2021 1.184; 2022 1.054; 2023 1.082; 2024 1.078
  - Japanese Yen — National Currency Units per US Dollar: 2016 108.793; 2017 112.166; 2018 110.423; 2019 109.010; 2020 106.775; 2021 109.754; 2022 131.498; 2023 140.491; 2024 148.500
  - Korean Won — National Currency Units per US Dollar: 2016 1,161.014; 2017 1,131.001; 2018 1,100.163; 2019 1,165.358; 2020 1,180.005; 2021 1,143.952; 2022 1,291.447; 2023 1,305.663; 2024 1,329.931
- Real Effective Exchange Rates (Index, 2010 = 100):
  - United States: 2016 123.7; 2017 128.4; 2018 125.6; 2019 133.2; 2020 136.9; 2021 134.5; 2022 151.3; 2023 154.7; 2024 156.6
  - Japan: 2016 82.6; 2017 76.9; 2018 74.7; 2019 75.2; 2020 75.3; 2021 73.5; 2022 62.0; 2023 56.4; 2024 53.2
  - Switzerland: 2016 115.6; 2017 114.4; 2018 108.6; 2019 109.6; 2020 112.1; 2021 113.1; 2022 117.9; 2023 122.4; 2024 124.1

### Broad Money Aggregates — Emerging Market and Developing Economies (Section 3)
- Broad money growth (Annual percent change) — Emerging Market and Developing Economies:
  - 2016: 11.0; 2017: 10.7; 2018: 12.6; 2019: 11.5; 2020: 14.5; 2021: 11.8; 2022: 11.0; 2023: 12.3; 2024 (proj): 11.8; 2025 (proj): 10.2
- Selected regional highlights (Annual percent change):
  - China: 2016: 11.3; 2023: 8.0; 2024: 8.0; 2025: 8.0
  - India: 2016: 10.1; 2023: 11.0; 2024: 10.0; 2025: 8.9
  - Emerging and Developing Europe: 2016: 6.0; 2022: 19.0; 2023: 21.4; 2024: 16.6; 2025: 13.5
  - Sub-Saharan Africa: 2016: 15.4; 2022: 16.0; 2023: 25.0; 2024: 16.3; 2025: 17.5
- Analytical groups by source of export earnings:
  - Fuel: 2016: 12.1; 2017: 16.3; 2018: 37.4; 2019: 29.5; 2020: 19.9; 2021: 16.3; 2022: 15.2; 2023: 18.6; 2024: 13.4; 2025: 12.9
  - Nonfuel: 2016: 10.8; 2017: 9.9; 2018: 9.8; 2019: 9.4; 2020: 13.9; 2021: 11.3; 2022: 10.6; 2023: 11.6; 2024: 11.6; 2025: 9.9
  - Primary Products: 2016: 17.0; 2017: 17.0; 2018: 22.8; 2019: 17.5; 2020: 31.9; 2021: 21.7; 2022: 26.0; 2023: 40.7; 2024: 45.4; 2025: 24.5
- Memorandum — Median:
  - Emerging Market and Developing Economies median: 2016: 9.2; 2023: 8.3; 2024: 8.9; 2025: 8.0

### Trade Volumes and Terms — Advanced and Emerging Economies (Section 3)
- Advanced Economies — Export Volume (Annual percent change):
  - 2006–15 average: 3.7; 2016–25 average: 2.4; 2016: 2.0; 2019: 3.6; 2020: 1.5; 2021: –8.8; 2022: 9.9; 2023: 5.6; 2024 (proj): 0.9; 2025 (proj): 2.5
- Advanced Economies — Import Volume (Annual percent change):
  - 2006–15 average: 3.1; 2016–25 average: 2.5; 2020: 2.1; 2021: –8.2; 2022: 10.3; 2023: 7.1; 2024 (proj): –1.0; 2025 (proj): 2.0
- Advanced Economies — Terms of Trade (Annual percent change):
  - 2006–15 average: 0.0; 2016–25 average: 0.2; 2016: 1.1; 2019: –0.3; 2020: 0.1; 2021: 1.0; 2022: 0.9; 2023: –1.8; 2024 (proj): 0.7; 2025 (proj): 0.3
- Emerging Market and Developing Economies — Total Trade in Goods (Value, Annual percent change, selected aggregates):
  - Goods Exports (2018–2025, selected): 2018: 6,130.7; 2019: 6,910.0; 2020: 7,737.7; 2021: 7,537.6; 2022: 7,039.2; 2023: 9,262.8; 2024 (proj): 10,533.4; 2025 (proj): 9,848.3

### Summary of Current Account Transactions (Section 3 and Table B15)
- Advanced Economies — Current Account Balance (Billions of US dollars, selected series and projections):
  - 2018: –76.4; 2019: 200.8; 2020: 390.2; 2021: 394.7; 2022: 174.8; 2023: 546.3; 2024 (proj): –193.9; 2025 (proj): 286.8; 2026–29 average: 439.9
  - United States — Current Account Balance: 2018: –505.3; 2019: –398.4; 2020: –439.8; 2021: –441.8; 2022: –597.1; 2023: –831.4; 2024 (proj): –971.6; 2025 (proj): –812.7
- Emerging Market and Developing Economies — Current Account Balance (Billions of US dollars):
  - 2018: 341.8; 2019: 135.4; 2020: –59.0; 2021: –7.7; 2022: 145.5; 2023: 372.3; 2024 (proj): 648.6; 2025 (proj): 277.1
- Regional examples (Billions of US dollars, selected rows from Table B15):
  - Emerging and Developing Asia — Exports of Goods (selected series): 2,601.1; 3,143.5; 3,792.2; 3,745.1; 3,815.9; 4,902.3; 5,237.8; 4,938.6; 5,158.5; 5,368.4; 6,060.2
  - Middle East and Central Asia — Exports of Goods (selected series): 1,275.0; 1,337.7; 1,317.0; 1,220.1; 916.1; 1,320.6; 1,811.5; 1,628.9; 1,623.5; 1,682.9; 1,820.2
  - Latin America and the Caribbean — Exports of Goods (selected series): 928.1; 1,015.3; 1,088.3; 1,062.5; 959.6; 1,229.5; 1,444.2; 1,430.1; 1,466.3; 1,514.9; 1,667.9

### External Debt, Debt Service, and Maturities — Emerging Market and Developing Economies (Tables B16–B18, B19)
- Total External Debt (Billions of US dollars, 2016–2025):
  - 2016: 8,664.8; 2017: 9,636.8; 2018: 10,078.4; 2019: 10,588.5; 2020: 11,308.1; 2021: 12,054.7; 2022: 11,762.2; 2023: 12,163.3; 2024: 12,723.3; 2025: 13,361.1
- By maturity (Billions of US dollars, 2016–2025):
  - Short Term: 2016: 2,134.1; 2017: 2,542.3; 2018: 2,766.3; 2019: 2,754.6; 2020: 2,877.9; 2021: 3,141.7; 2022: 3,112.7; 2023: 3,182.9; 2024: 3,364.3; 2025: 3,578.0
  - Long Term: 2016: 6,530.7; 2017: 7,094.6; 2018: 7,312.1; 2019: 7,833.9; 2020: 8,430.2; 2021: 8,913.0; 2022: 8,649.5; 2023: 8,980.4; 2024: 9,358.9; 2025: 9,783.1
- Regional totals (Total Debt, 2016–2025, selected examples):
  - Emerging and Developing Asia: 2,871.3; 3,374.7; 3,671.4; 3,851.8; 4,270.9; 4,726.3; 4,437.1; 4,617.1; 4,946.2; 5,314.5
  - Latin America and the Caribbean: 2,161.4; 2,265.5; 2,348.1; 2,427.7; 2,462.3; 2,541.8; 2,580.2; 2,649.3; 2,726.5; 2,808.8
  - Sub-Saharan Africa: 518.8; 616.1; 658.8; 710.2; 733.4; 756.7; 788.1; 805.5; 833.1; 867.7
- Debt-Service Payments — Total (Billions of US dollars, 2016–2025):
  - 2016: 2,987.7; 2017: 2,987.1; 2018: 3,489.7; 2019: 3,722.7; 2020: 3,736.7; 2021: 3,926.6; 2022: 4,182.3; 2023: 4,221.1; 2024: 4,308.9; 2025: 4,550.8
- External Debt ratios (selected, percent, 2016–2025):
  - External Debt to Exports of Goods and Services (Emerging Market and Developing Economies): 2016: 118.3; 2017: 116.4; 2018: 109.4; 2019: 116.7; 2020: 137.7; 2021: 112.6; 2022: 95.2; 2023: 103.1; 2024: 103.4; 2025: 104.1
  - External Debt to GDP (Emerging Market and Developing Economies): 2016: 30.0; 2017: 29.8; 2018: 30.6; 2019: 30.7; 2020: 33.2; 2021: 31.4; 2022: 29.0; 2023: 29.8; 2024: 28.6; 2025: 27.9
  - Debt-Service Payments as Percent of Exports (Emerging Market and Developing Economies): 2016: 41.4; 2017: 36.6; 2018: 38.4; 2019: 41.5; 2020: 45.9; 2021: 37.1; 2022: 34.3; 2023: 36.2; 2024: 35.4; 2025: 35.9
- Analytical group highlights:
  - Net Debtor Economies — Total Debt: 5,286.4; 5,752.6; 5,889.0; 6,122.6; 6,420.2; 6,697.7; 6,805.5; 7,137.2; 7,444.1; 7,806.8
  - Economies with Arrears and/or Rescheduling during 2018–22 — Total Debt: 667.8; 737.4; 786.8; 830.3; 861.8; 902.3; 930.2; 959.4; 969.9; 1,000.7

### Debt-Service Ratios, Interest Payments, and Amortization — Emerging Market and Developing Economies (Section 5)
- Interest Payments (Percent of exports of goods and services, 2016–2025) — Emerging Market and Developing Economies:
  - 2016: 4.0; 2017: 3.8; 2018: 4.1; 2019: 4.4; 2020: 4.6; 2021: 3.6; 2022: 3.6; 2023: 4.5; 2024: 4.4; 2025: 4.3
- Amortization (Percent of exports of goods and services, 2016–2025) — Emerging Market and Developing Economies:
  - 2016: 37.3; 2017: 32.7; 2018: 34.2; 2019: 37.0; 2020: 41.3; 2021: 33.5; 2022: 30.7; 2023: 31.7; 2024: 31.0; 2025: 31.5
- Interest plus Amortization (Debt-Service Payments) — Emerging Market and Developing Economies:
  - Debt-Service Payments (Percent of exports): 2016: 41.4; 2017: 36.6; 2018: 38.4; 2019: 41.5; 2020: 45.9; 2021: 37.1; 2022: 34.3; 2023: 36.2; 2024: 35.4; 2025: 35.9
- Regional debt-service patterns (selected):
  - Latin America and the Caribbean — Interest Payments: 2016: 7.0; 2017: 7.3; 2018: 7.7; 2019: 8.4; 2020: 8.4; 2021: 5.9; 2022: 5.5; 2023: 7.1; 2024: 6.9; 2025: 6.8
  - Sub-Saharan Africa — Interest Payments: 2016: 4.2; 2017: 3.9; 2018: 4.3; 2019: 4.7; 2020: 5.7; 2021: 4.8; 2022: 3.8; 2023: 4.6; 2024: 4.9; 2025: 4.9
- Notes:
  - Interest payments and amortization on total debt. Estimates through 2023 reflect debt-service payments actually made. Estimates for 2024 and 2025 take into account projected exceptional-financing items, including accumulation of arrears and rescheduling arrangements. Excludes service payments to the IMF.

### Medium-Term Baseline Scenario — Selected Economic Indicators (Section 5)
- Real GDP (Averages and projections):
  - 2006–15 average: 5.7; 2016–25 average: 3.9
  - 2022: 4.1; 2023: 4.3; 2024: 4.2; 2025: 4.2; 2022–25: 4.2; 2026–29: 4.0
- Export Volume (Trade in goods and services):
  - 2006–15 average: 5.3; 2016–25 average: 3.2
  - 2022: 4.7; 2023: –0.1; 2024: 3.7; 2025: 3.9; 2022–25: 3.1; 2026–29: 4.0
- Terms of Trade (Selected):
  - 2006–15 average: 0.4; 2016–25 average: 0.0
  - 2022: 1.1; 2023: –1.1; 2024: 0.3; 2025: 0.0; 2022–25: 0.1; 2026–29: –0.2
- Import Volume:
  - 2006–15 average: 6.7; 2016–25 average: 2.9
  - 2022: 3.9; 2023: 2.0; 2024: 4.9; 2025: 4.1; 2022–25: 3.7; 2026–29: 4.1

*Source: tableb (Statistical Appendix tables and notes reproduced from the provided PDF content).*

### Section 1

### Table B (Section 1) — Key Statistical Tables (Selected Indicators and Projections)

### Unemployment, Employment Growth, and Real GDP per Capita — Advanced Economies (Table B1)
- Unemployment Rate (Percent) — Advanced Economies (averages and projections):
  - Averages 2006–15: 7.2; 2016–25: 5.2
  - Year series: 2016: 6.3; 2017: 5.7; 2018: 5.1; 2019: 4.8; 2020: 6.6; 2021: 5.6; 2022: 4.6; 2023: 4.4; 2024: 4.6; 2025: 4.7
- Selected country unemployment rates (Percent), projections where shown:
  - United States: 2016: 4.6; 2017: 4.9; 2018: 4.4; 2019: 3.9; 2020: 8.1; 2021: 5.4; 2022: 3.6; 2023: 3.6; 2024: 4.0; 2025: 4.2
  - Euro Area: 2016: 7.7; 2017: 10.1; 2018: 9.1; 2019: 8.2; 2020: 7.6; 2021: 8.0; 2022: 7.7; 2023: 6.7; 2024: 6.6; 2025: 6.4
  - Japan: 2016: 2.6; 2017: 3.1; 2018: 2.8; 2019: 2.4; 2020: 2.4; 2021: 2.8; 2022: 2.8; 2023: 2.6; 2024: 2.5; 2025: 2.5
  - Spain: 2016: 14.5; 2017: 19.6; 2018: 17.2; 2019: 15.3; 2020: 14.1; 2021: 15.5; 2022: 14.8; 2023: 12.9; 2024: 12.1; 2025: 11.6
- Growth in Employment (Compound annual rate of change):
  - Advanced Economies (averages and projections): 2006–15: 0.5; 2016–25: 0.9
  - Year series: 2016: 1.5; 2017: 1.4; 2018: 1.5; 2019: 1.2; 2020: –2.7; 2021: 1.8; 2022: 2.6; 2023: 1.4; 2024: 0.5; 2025: 0.5
  - United States: 2016: 0.9; 2017: 1.7; 2018: 1.3; 2019: 1.6; 2020: 1.1; 2021: –6.2; 2022: 3.2; 2023: 3.7; 2024: 1.7; 2025: 0.7; 2026: 0.6 (note: last two implied by series)
- Growth in Real GDP per Capita (Output per capita, international dollars at PPP; compound annual rate of change):
  - Advanced Economies (averages and projections): 2006–15: 0.9; 2016–25: 1.4
  - Year series: 2016: 1.3; 2017: 2.1; 2018: 1.9; 2019: 1.4; 2020: –4.5; 2021: 5.6; 2022: 2.2; 2023: 1.1; 2024: 1.3; 2025: 1.4
  - United States: 2016: 1.7; 2017: 1.1; 2018: 1.8; 2019: 2.4; 2020: 2.0; 2021: –3.0; 2022: 5.5; 2023: 1.6; 2024: 2.0; 2025: 2.1; 2026: 1.3

Notes from Table B1:
- Compound annual rate of change for employment and output per capita; arithmetic average for unemployment rate.
- National definitions of unemployment may vary.
- Output per capita is in international dollars at purchasing power parity.
- Euro area data are calculated as the sum of data for individual euro area countries.

### Real GDP — Emerging Market and Developing Economies (Table B2)
- Emerging Market and Developing Economies — Real GDP (Annual percent change):
  - Averages 2006–15: 5.7; 2016: 4.4; 2017: 4.8; 2018: 4.7; 2019: 3.6; 2020: –1.8; 2021: 7.0; 2022: 4.1; 2023: 4.3; 2024: 4.2; 2025: 4.2; 2029: 3.9
- Regional groups — selected series (Annual percent change):
  - Emerging and Developing Asia: 2006–15: 7.9; 2016: 6.8; 2017: 6.6; 2018: 6.4; 2019: 5.2; 2020: –0.5; 2021: 7.7; 2022: 4.4; 2023: 5.6; 2024: 5.2; 2025: 4.9; 2029: 4.5
  - Latin America and the Caribbean: 2006–15: 3.0; 2016: –0.8; 2017: 1.4; 2018: 1.1; 2019: 0.2; 2020: –7.0; 2021: 7.3; 2022: 4.2; 2023: 2.3; 2024: 2.0; 2025: 2.5; 2029: 2.4
- Output per Capita (Emerging Market and Developing Economies):
  - 2006–15: 4.0; 2016: 2.8; 2017: 3.3; 2018: 3.3; 2019: 2.3; 2020: –3.1; 2021: 5.8; 2022: 3.0; 2023: 3.7; 2024: 3.1; 2025: 3.1; 2029: 2.9

Notes from Table B2:
- Output per capita is in international dollars at purchasing power parity.
- Excludes Venezuela but includes Argentina from 2017 onward (see country-specific notes).

### Hourly Earnings, Productivity, and Unit Labor Costs in Manufacturing — Advanced Economies (Table B3)
- Hourly Earnings (Annual percent change) — Advanced Economies:
  - 2006–15: 2.3; 2016: 3.0; 2017: 1.6; 2018: 2.5; 2019: 2.5; 2020: 2.2; 2021: 4.0; 2022: 1.6; 2023: 3.6; 2024: 4.6; 2025: 4.3; 2026: 3.3
  - United States example: 2016: 3.4; 2017: 0.7; 2018: 3.2; 2019: 2.4; 2020: 2.5; 2021: 6.6; 2022: 2.2; 2023: 3.3; 2024: 4.7; 2025: 4.9; 2026: 3.4
- Productivity (labor productivity, per notes) — Advanced Economies:
  - 2006–15: 1.2; 2016: 0.6; 2017: 1.0; 2018: 1.4; 2019: 0.5; 2020: –1.0; 2021: –0.2; 2022: 2.7; 2023: –0.2; 2024: –0.4; 2025: 1.3; 2026: 1.3
- Unit Labor Costs (Annual percent change) — Advanced Economies:
  - 2006–15: 1.2; 2016: 2.4; 2017: 0.6; 2018: 1.2; 2019: 2.0; 2020: 3.2; 2021: 4.3; 2022: –0.9; 2023: 3.8; 2024: 5.0; 2025: 2.9; 2026: 2.0

Notes from Table B3:
- Productivity refers to labor productivity, measured as the ratio of hourly compensation to unit labor costs.
- Unit labor costs data refer to unit wage cost for some countries as indicated.

### Consumer Prices — Emerging Market and Developing Economies (Table B4)
- Emerging Market and Developing Economies — Consumer Prices (Annual percent change):
  - 2006–15: 6.0; 2016: 4.4; 2017: 4.5; 2018: 5.0; 2019: 5.1; 2020: 5.2; 2021: 5.9; 2022: 9.8; 2023: 8.3; 2024: 8.3; 2025: 6.2; 2029: 4.2
- Regional examples (Annual percent change):
  - Emerging and Developing Asia: 2006–15: 4.7; 2016: 2.8; 2017: 2.5; 2018: 2.7; 2019: 3.3; 2020: 3.2; 2021: 2.3; 2022: 3.9; 2023: 2.4; 2024: 2.4; 2025: 2.8; 2029: 2.7
  - Emerging and Developing Europe: 2006–15: 8.1; 2016: 5.6; 2017: 5.6; 2018: 6.4; 2019: 6.7; 2020: 5.4; 2021: 9.6; 2022: 27.8; 2023: 19.4; 2024: 18.8; 2025: 13.1; 2029: 7.7
- Analytical groups:
  - Fuel exporters: 2006–15: 8.1; 2016: 7.7; 2017: 6.5; 2018: 8.9; 2019: 6.8; 2020: 9.3; 2021: 11.7; 2022: 13.7; 2023: 12.7; 2024: 12.7; 2025: 10.6; 2029: 7.8
  - Nonfuel exporters: 2006–15: 5.7; 2016: 3.9; 2017: 4.2; 2018: 4.5; 2019: 4.9; 2020: 4.7; 2021: 5.3; 2022: 9.4; 2023: 7.9; 2024: 7.9; 2025: 5.7; 2029: 3.8

Notes from Table B4:
- Excludes Venezuela but includes Argentina from 2017 onward (see country-specific notes).
- “Primary products” series includes Argentina from 2017 onward per notes.

### Summary of Fiscal and Financial Indicators — Selected Aggregates (Table B5)
- Advanced Economies — Central Government Net Lending/Borrowing (Percent of GDP), projections:
  - Series 2016–25: 2016: –2.5; 2017: –2.4; 2018: –2.4; 2019: –2.9; 2020: –9.8; 2021: –7.8; 2022: –3.8; 2023: –5.6; 2024: –4.4; 2025: –4.2
  - United States: 2016: –3.9; 2017: –4.3; 2018: –4.8; 2019: –5.4; 2020: –14.2; 2021: –12.5; 2022: –5.0; 2023: –8.7; 2024: –6.4; 2025: –6.7
  - Euro Area: 2016: –1.4; 2017: –1.4; 2018: –0.9; 2019: –1.0; 2020: –5.4; 2021: –4.6; 2022: –3.9; 2023: –3.4; 2024: –3.0; 2025: –2.6
- Advanced Economies — General Government Net Lending/Borrowing (Percent of GDP):
  - Series 2016–25: 2016: –2.7; 2017: –2.4; 2018: –2.4; 2019: –3.0; 2020: –10.2; 2021: –7.2; 2022: –3.1; 2023: –5.6; 2024: –4.4; 2025: –4.2
  - United States: 2016: –4.4; 2017: –4.8; 2018: –5.3; 2019: –5.8; 2020: –13.9; 2021: –11.1; 2022: –4.1; 2023: –8.8; 2024: –6.5; 2025: –7.1
- Long-Term Interest Rate (period averages):
  - Advanced Economies: 2016: 1.2; 2017: 1.6; 2018: 1.9; 2019: 1.2; 2020: 0.5; 2021: 0.9; 2022: 2.3; 2023: 3.3; 2024: 3.5; 2025: 3.4
  - United States: 2016: 1.8; 2017: 2.3; 2018: 2.9; 2019: 2.1; 2020: 0.9; 2021: 1.4; 2022: 3.0; 2023: 4.0; 2024: 4.2; 2025: 3.8

Emerging Market and Developing Economies (Table B5 excerpts):
- Central Government Net Lending/Borrowing — Weighted Average (Percent of GDP):
  - Series 2016–25: 2016: –2.2; 2017: –1.7; 2018: –1.2; 2019: –1.4; 2020: –3.9; 2021: –2.1; 2022: –1.6; 2023: –2.2; 2024: –2.1; 2025: –1.7
- General Government Net Lending/Borrowing — Weighted Average (Percent of GDP):
  - Series 2016–25: 2016: –4.3; 2017: –3.8; 2018: –3.5; 2019: –4.4; 2020: –8.5; 2021: –5.0; 2022: –4.9; 2023: –5.4; 2024: –5.5; 2025: –5.3
- Growth of Broad Money (Weighted Average, annual percent change):
  - Series 2016–25: 2016: 11.0; 2017: 10.7; 2018: 12.6; 2019: 11.5; 2020: 14.5; 2021: 11.8; 2022: 11.0; 2023: 12.3; 2024: 11.8; 2025: 10.2
- Median growth of broad money: 2016: 9.2; 2017: 8.8; 2018: 8.1; 2019: 8.8; 2020: 13.3; 2021: 11.3; 2022: 8.3; 2023: 8.9; 2024: 8.8; 2025: 8.0

Notes from Table B5:
- Fiscal data are percent of GDP; country-group composites for fiscal data are calculated as the sum of US dollar values for individual countries.
- Figures reported by national statistical agencies are adjusted for certain pension accounting where indicated.

### General and Central Government Net Lending/Borrowing — Advanced Economies Detailed (Table B6)
- General Government Net Lending/Borrowing (Percent of GDP) — Advanced Economies series 2016–25:
  - Advanced Economies: 2016: –2.7; 2017: –2.4; 2018: –2.4; 2019: –3.0; 2020: –10.2; 2021: –7.2; 2022: –3.1; 2023: –5.6; 2024: –4.4; 2025: –4.2
  - United States: 2016: –4.4; 2017: –4.8; 2018: –5.3; 2019: –5.8; 2020: –13.9; 2021: –11.1; 2022: –4.1; 2023: –8.8; 2024: –6.5; 2025: –7.1
  - Japan: 2016: –3.6; 2017: –3.1; 2018: –2.5; 2019: –3.0; 2020: –9.1; 2021: –6.1; 2022: –4.4; 2023: –5.8; 2024: –6.5; 2025: –3.2
- Net Lending/Borrowing Excluding Social Security Schemes — selected series:
  - United States: 2016: –2.2; 2017: –2.7; 2018: –3.2; 2019: –3.6; 2020: –9.0; 2021: –7.6; 2022: –2.0; 2023: –5.2; 2024: –2.6; 2025: –2.9
  - Japan: 2016: 2.8; 2017: 3.1; 2018: 3.6; 2019: 3.0; 2020: –2.8; 2021: 0.0; 2022: 1.6; 2023: –0.3; 2024: –1.2; 2025: 2.1
  - Italy (excluding total social contributions/payments as noted): 2016: 7.0; 2017: 6.8; 2018: 6.9; 2019: 7.7; 2020: 3.6; 2021: 2.2; 2022: 1.4; 2023: 2.8; 2024: 6.0; 2025: 6.5

Notes from Table B6:
- On a national income accounts basis except as indicated in notes; methodology and assumptions discussed in Box A1 of the source.
- Some country series are on a budget basis or exclude social security transactions per country notes.
- Central government series cover consolidated central government including social security funds but excluding privatization for specified entries.

*Source: IMF, Statistical Appendix (tables reproduced from the supplied section).*

### Section 2

### tableb - Section 2

### Advanced Economies: General Government Structural Balances (Percent of potential GDP)
- Advanced Economies (composite): 2016 –2.2, 2017 –2.3, 2018 –2.5, 2019 –3.3, 2020 –7.1, 2021 –6.6, 2022 –4.7, 2023 –5.6, 2024 –4.5, 2025 –4.4
- United States: 2016 –3.6, 2017 –4.3, 2018 –5.1, 2019 –6.0, 2020 –10.6, 2021 –10.8, 2022 –6.8, 2023 –8.6, 2024 –6.7, 2025 –7.1
- Euro Area: 2016 –0.5, 2017 –0.5, 2018 –0.3, 2019 –0.5, 2020 –4.0, 2021 –4.0, 2022 –3.5, 2023 –3.3, 2024 –2.6, 2025 –2.4
- Germany: 2016 1.2, 2017 1.2, 2018 1.6, 2019 1.3, 2020 –2.9, 2021 –3.0, 2022 –2.2, 2023 –1.9, 2024 –0.9, 2025 –0.8
- France: 2016 –1.9, 2017 –1.9, 2018 –1.5, 2019 –2.1, 2020 –6.0, 2021 –5.0, 2022 –4.2, 2023 –4.9, 2024 –4.3, 2025 –4.4
- Italy: 2016 –0.8, 2017 –1.3, 2018 –1.5, 2019 –0.8, 2020 –5.8, 2021 –8.1, 2022 –9.2, 2023 –7.8, 2024 –4.8, 2025 –3.6
- Japan: 2016 –4.5, 2017 –3.7, 2018 –3.0, 2019 –3.3, 2020 –8.1, 2021 –5.4, 2022 –4.3, 2023 –5.8, 2024 –6.6, 2025 –3.2
- United Kingdom: 2016 –2.3, 2017 –2.1, 2018 –2.0, 2019 –2.4, 2020 0.5, 2021 –3.3, 2022 –3.0, 2023 –4.7, 2024 –2.9, 2025 –2.9
- Norway: 2016 –7.8, 2017 –8.1, 2018 –7.5, 2019 –7.9, 2020 –12.1, 2021 –10.9, 2022 –9.5, 2023 –9.6, 2024 –10.1, 2025 –10.3
- Memorandum — Major Advanced Economies: 2016 –2.7, 2017 –3.0, 2018 –3.3, 2019 –3.9, 2020 –8.1, 2021 –7.9, 2022 –5.5, 2023 –6.8, 2024 –5.3, 2025 –5.2

(Note: structural balance defined as actual net lending/borrowing minus cyclical output effects and corrected for one-time and other factors; country-group composites are sums of US dollar values for relevant countries.)

### Emerging Market and Developing Economies: General Government Net Lending/Borrowing (Percent of GDP)
- Emerging Market and Developing Economies (composite): 2016 –4.3, 2017 –3.8, 2018 –3.5, 2019 –4.4, 2020 –8.5, 2021 –5.0, 2022 –4.9, 2023 –5.4, 2024 –5.5, 2025 –5.3
- Regional groups:
  - Emerging and Developing Asia: 2016 –3.7, 2017 –3.6, 2018 –4.2, 2019 –5.6, 2020 –9.4, 2021 –6.2, 2022 –7.1, 2023 –6.7, 2024 –6.8, 2025 –6.9
  - Emerging and Developing Europe: 2016 –2.6, 2017 –1.6, 2018 0.3, 2019 –0.7, 2020 –5.3, 2021 –1.6, 2022 –2.6, 2023 –4.6, 2024 –4.2, 2025 –3.2
  - Latin America and the Caribbean: 2016 –5.2, 2017 –5.3, 2018 –5.0, 2019 –3.8, 2020 –8.2, 2021 –3.8, 2022 –3.3, 2023 –5.0, 2024 –4.6, 2025 –3.3
  - Middle East and Central Asia: 2016 –7.4, 2017 –4.5, 2018 –1.5, 2019 –2.6, 2020 –7.7, 2021 –2.3, 2022 2.4, 2023 –0.3, 2024 –2.0, 2025 –1.7
  - Sub-Saharan Africa: 2016 –4.3, 2017 –4.4, 2018 –3.5, 2019 –3.9, 2020 –6.5, 2021 –4.9, 2022 –4.4, 2023 –4.1, 2024 –3.7, 2025 –3.4
- Analytical groups:
  - Fuel exporters: 2016 –7.6, 2017 –4.7, 2018 –1.4, 2019 –1.7, 2020 –7.5, 2021 –1.4, 2022 3.7, 2023 0.7, 2024 –0.7, 2025 –0.5
  - Nonfuel exporters: 2016 –3.9, 2017 –3.7, 2018 –3.7, 2019 –4.7, 2020 –8.6, 2021 –5.3, 2022 –5.9, 2023 –6.0, 2024 –6.0, 2025 –5.8
- Memorandum — Median Emerging Market and Developing Economies: 2016 –3.1, 2017 –2.6, 2018 –2.2, 2019 –2.2, 2020 –5.6, 2021 –4.4, 2022 –3.2, 2023 –2.9, 2024 –3.0, 2025 –2.6

### Emerging Market and Developing Economies: Selected General Government Overall Fiscal Balance (Percent of GDP)
- Indonesia: 2016 –2.6, 2017 –2.3, 2018 –1.8, 2019 –2.1, 2020 –6.1, 2021 –4.4, 2022 –2.2, 2023 –1.6, 2024 –2.2, 2025 –2.7
- Brazil: 2016 –6.2, 2017 –8.2, 2018 –5.4, 2019 –3.4, 2020 –11.7, 2021 –1.6, 2022 –2.3, 2023 –7.5, 2024 –6.3, 2025 –5.4
- Thailand: 2016 0.2, 2017 –0.7, 2018 –0.2, 2019 0.1, 2020 –4.8, 2021 –7.1, 2022 –4.8, 2023 –3.5, 2024 –4.0, 2025 –3.6
- Vietnam: 2016 –3.6, 2017 –2.3, 2018 –1.3, 2019 –0.5, 2020 –3.0, 2021 –1.5, 2022 0.3, 2023 –1.6, 2024 –2.4, 2025 –2.4
- Philippines: 2016 –0.8, 2017 –0.7, 2018 –1.5, 2019 –1.6, 2020 –5.7, 2021 –6.3, 2022 –5.6, 2023 –5.3, 2024 –4.3, 2025 –3.7
- Malaysia: 2016 –2.6, 2017 –2.4, 2018 –2.6, 2019 –2.0, 2020 –4.9, 2021 –6.0, 2022 –4.8, 2023 –4.4, 2024 –3.5, 2025 –3.5
- Colombia: 2016 –2.3, 2017 –2.5, 2018 –4.7, 2019 –3.5, 2020 –7.0, 2021 –7.1, 2022 –6.2, 2023 –2.7, 2024 –3.3, 2025 –3.1
- Chile: 2016 –2.7, 2017 –2.6, 2018 –1.5, 2019 –2.7, 2020 –7.1, 2021 –7.5, 2022 1.4, 2023 –2.2, 2024 –1.9, 2025 –1.2
- Peru: 2016 –2.2, 2017 –2.8, 2018 –2.0, 2019 –1.4, 2020 –9.0, 2021 –2.5, 2022 –1.4, 2023 –2.8, 2024 –2.5, 2025 –1.8

(Note: net lending/borrowing includes policy lending as value of transactions in financial assets deemed for public policy purposes; country-group composites are sums of US dollar values.)

### Emerging Market and Developing Economies: Net Lending/Borrowing — Country Examples (Percent of GDP)
- China: 2016 –3.4, 2017 –3.4, 2018 –4.3, 2019 –6.1, 2020 –9.7, 2021 –6.0, 2022 –7.5, 2023 –7.1, 2024 –7.4, 2025 –7.6
- India: 2016 –7.1, 2017 –6.2, 2018 –6.4, 2019 –7.7, 2020 –12.9, 2021 –8.6, 2022 –9.2, 2023 –8.6, 2024 –7.8, 2025 –7.6
- Ukraine: 2016 –2.5, 2017 –2.4, 2018 –2.1, 2019 –2.1, 2020 –5.9, 2021 –4.0, 2022 –15.7, 2023 –19.7, 2024 –13.7, 2025 –7.3
- Pakistan: 2016 –3.9, 2017 –5.2, 2018 –5.7, 2019 –7.8, 2020 –7.0, 2021 –6.0, 2022 –7.8, 2023 –7.8, 2024 –7.4, 2025 –7.3
- Nigeria: 2016 –4.6, 2017 –5.4, 2018 –4.3, 2019 –4.7, 2020 –5.6, 2021 –5.5, 2022 –5.4, 2023 –4.2, 2024 –4.6, 2025 –4.2

### Sub-Saharan Africa: Net Lending/Borrowing — Selected Countries (Percent of GDP)
- South Africa: 2016 –3.7, 2017 –4.0, 2018 –3.7, 2019 –4.7, 2020 –9.6, 2021 –5.5, 2022 –4.3, 2023 –6.0, 2024 –6.1, 2025 –6.3
- Kenya: 2016 –7.5, 2017 –7.4, 2018 –6.9, 2019 –7.4, 2020 –8.1, 2021 –7.2, 2022 –6.1, 2023 –5.3, 2024 –4.0, 2025 –3.2
- Zambia: 2016 –5.7, 2017 –7.5, 2018 –8.3, 2019 –9.4, 2020 –13.8, 2021 –8.1, 2022 –7.8, 2023 –6.8, 2024 –6.1, 2025 –5.4
- Ghana: 2016 –6.7, 2017 –4.0, 2018 –6.8, 2019 –7.5, 2020 –17.4, 2021 –12.0, 2022 –11.8, 2023 –4.6, 2024 –5.0, 2025 –4.3

### Selected Advanced Economies: Exchange Rates (Nominal and Real Effective)
- Nominal exchange rates — US Dollars per National Currency Unit:
  - Euro: 2016 1.107, 2017 1.129, 2018 1.181, 2019 1.120, 2020 1.141, 2021 1.184, 2022 1.054, 2023 1.082, 2024 1.078
  - British Pound: 2016 1.355, 2017 1.288, 2018 1.336, 2019 1.277, 2020 1.283, 2021 1.376, 2022 1.237, 2023 1.243, 2024 1.271
  - Japanese Yen — National Currency Units per US Dollar: 2016 108.793, 2017 112.166, 2018 110.423, 2019 109.010, 2020 106.775, 2021 109.754, 2022 131.498, 2023 140.491, 2024 148.500
  - Korean Won — National Currency Units per US Dollar: 2016 1,161.014, 2017 1,131.001, 2018 1,100.163, 2019 1,165.358, 2020 1,180.005, 2021 1,143.952, 2022 1,291.447, 2023 1,305.663, 2024 1,329.931
  - Canadian Dollar: 2016 1.326, 2017 1.298, 2018 1.296, 2019 1.327, 2020 1.341, 2021 1.254, 2022 1.302, 2023 1.350, 2024 1.345
  - Australian Dollar: 2016 1.344, 2017 1.304, 2018 1.337, 2019 1.438, 2020 1.448, 2021 1.330, 2022 1.439, 2023 1.504, 2024 1.536
- Real Effective Exchange Rates (Index, 2010 = 100):
  - United States: 2016 123.7, 2017 128.4, 2018 125.6, 2019 133.2, 2020 136.9, 2021 134.5, 2022 151.3, 2023 154.7, 2024 156.6
  - Euro Area: 2016 83.9, 2017 84.4, 2018 86.9, 2019 83.4, 2020 85.0, 2021 83.6, 2022 79.0, 2023 82.7, 2024 83.2
  - Japan: 2016 82.6, 2017 76.9, 2018 74.7, 2019 75.2, 2020 75.3, 2021 73.5, 2022 62.0, 2023 56.4, 2024 53.2
  - United Kingdom: 2016 104.4, 2017 96.4, 2018 99.0, 2019 100.9, 2020 104.8, 2021 112.8, 2022 113.6, 2023 113.0, 2024 116.5
  - Korea: 2016 139.0, 2017 142.9, 2018 153.0, 2019 147.4, 2020 140.0, 2021 139.5, 2022 138.1, 2023 139.8, 2024 138.8
  - Switzerland: 2016 115.6, 2017 114.4, 2018 108.6, 2019 109.6, 2020 112.1, 2021 113.1, 2022 117.9, 2023 122.4, 2024 124.1

*Source: tableb - Section 2 (statistical tables and notes) from the provided PDF content.*

### Section 3

### tableb - Section 3

### Emerging Market and Developing Economies: Broad Money Aggregates (Annual percent change)
- Emerging Market and Developing Economies broad money growth:
  - 2016: 11.0
  - 2017: 10.7
  - 2018: 12.6
  - 2019: 11.5
  - 2020: 14.5
  - 2021: 11.8
  - 2022: 11.0
  - 2023: 12.3
  - 2024 (proj): 11.8
  - 2025 (proj): 10.2
- Regional highlights (selected series, Annual percent change):
  - Emerging and Developing Asia: 2016: 11.0; 2023: 8.0; 2024: 8.1; 2025: 8.4; 2025: 8.2
  - China: 2016: 11.3; 2023: 8.0; 2024: 8.0; 2025: 8.0
  - India: 2016: 10.1; 2023: 11.0; 2024: 10.0; 2025: 8.9
  - Emerging and Developing Europe: 2016: 6.0; 2022: 19.0; 2023: 21.4; 2024: 16.6; 2025: 13.5
  - Latin America and the Caribbean: 2016: 15.0; 2023: 14.6; 2024: 18.8; 2025: 19.0; 2025: 11.9
  - Middle East and Central Asia: 2016: 8.5; 2023: 14.8; 2024: 11.9
  - Sub-Saharan Africa: 2016: 15.4; 2022: 16.0; 2023: 25.0; 2024: 16.3; 2025: 17.5
- Analytical groups (Annual percent change):
  - By Source of Export Earnings
    - Fuel: 2016: 12.1; 2017: 16.3; 2018: 37.4; 2019: 29.5; 2020: 19.9; 2021: 16.3; 2022: 15.2; 2023: 18.6; 2024: 13.4; 2025: 12.9
    - Nonfuel: 2016: 10.8; 2017: 9.9; 2018: 9.8; 2019: 9.4; 2020: 13.9; 2021: 11.3; 2022: 10.6; 2023: 11.6; 2024: 11.6; 2025: 9.9
    - Of which, Primary Products: 2016: 17.0; 2017: 17.0; 2018: 22.8; 2019: 17.5; 2020: 31.9; 2021: 21.7; 2022: 26.0; 2023: 40.7; 2024: 45.4; 2025: 24.5
  - By External Financing Source
    - Net Debtor Economies: 2016: 12.3; 2017: 9.6; 2018: 10.0; 2019: 10.1; 2020: 15.9; 2021: 12.8; 2022: 11.6; 2023: 13.2; 2024: 11.9; 2025: 10.3
  - Net Debtor Economies by Debt-Servicing Experience
    - Economies with Arrears and/or Rescheduling during 2018–22: 2016: 14.2; 2017: 20.7; 2018: 17.5; 2019: 18.1; 2020: 25.0; 2021: 17.9; 2022: 21.3; 2023: 26.9; 2024: 28.5; 2025: 18.8
- Other groups (Annual percent change):
  - Middle East and North Africa: 2016: 7.3; 2023: 14.1; 2024: 15.4; 2025: 10.7
  - Emerging Market and Middle-Income Economies: 2016: 10.5; 2023: 10.6; 2024: 11.6; 2025: 9.7
  - Low-Income Developing Countries: 2016: 19.6; 2023: 24.1; 2024: 16.8; 2025: 18.5
  - Heavily Indebted Poor Countries: 2016: 11.1; 2023: 15.2; 2024: 15.2; 2025: 15.6
- Memorandum: Median (Annual percent change)
  - Emerging Market and Developing Economies median: 2016: 9.2; 2023: 8.3; 2024: 8.9; 2025: 8.0
  - Emerging and Developing Asia median: 2016: 12.8; 2023: 8.0; 2024: 8.4; 2025: 8.9
  - Sub-Saharan Africa median: 2016: 9.1; 2023: 10.8; 2024: 9.2; 2025: 9.4

### Advanced Economies: Export Volumes, Import Volumes, and Terms of Trade in Goods and Services (Annual percent change)
- Export Volume, Advanced Economies:
  - 2006–15 average: 3.7
  - 2016–25 average: 2.4
  - 2016: 2.0
  - 2019: 3.6
  - 2020: 1.5
  - 2021: –8.8
  - 2022: 9.9
  - 2023: 5.6
  - 2024 (proj): 0.9
  - 2025 (proj): 2.5
- Selected Advanced Economies Export Volume (Annual percent change):
  - United States: 2006–15 average: 4.5; 2020: 0.5; 2021: –13.1; 2022: 6.3; 2023: 7.0; 2024: 2.7; 2025: 1.5; 2025: 2.5
  - Euro Area (calculated as average of individual euro area countries): 2006–15 average: 3.4; 2021: –9.3; 2022: 11.4; 2023: 7.5; 2024: –0.9; 2025: 1.8; 2025: 3.1
  - Japan: 2006–15 average: 2.9; 2020: –1.5; 2022: 11.6; 2023: 5.3; 2024: 3.0; 2025: 3.3; 2025: 1.7
- Import Volume, Advanced Economies:
  - 2006–15 average: 3.1
  - 2016–25 average: 2.5
  - 2020: 2.1
  - 2021: –8.2
  - 2022: 10.3
  - 2023: 7.1
  - 2024 (proj): –1.0
  - 2025 (proj): 2.0
- Terms of Trade, Advanced Economies (Annual percent change):
  - 2006–15 average: 0.0
  - 2016–25 average: 0.2
  - 2016: 1.1
  - 2019: –0.3
  - 2020: 0.1
  - 2021: 1.0
  - 2022: 0.9
  - 2023: –1.8
  - 2024 (proj): 0.7
  - 2025 (proj): 0.3
- Memorandum, Trade in Goods (Advanced Economies):
  - Export Volume, 2006–15 average: 3.4; 2023: 3.7; 2024: –0.6; 2025: 2.2
  - Import Volume, 2006–15 average: 2.8; 2023: 4.9; 2024: –3.2; 2025: 1.5
  - Terms of Trade, 2006–15 average: –0.1; 2023: 0.8; 2024: –2.4; 2025: 0.8

### Emerging Market and Developing Economies by Region: Total Trade in Goods (Value, Volume, Unit Value, Terms of Trade; Annual percent change)
- Emerging Market and Developing Economies, Value in US Dollars:
  - Exports: 2006–15 avg: 7.1; 2016: 5.1; 2019: 13.7; 2020: 11.5; 2021: –2.6; 2022: –6.4; 2023: 31.3; 2024: 13.7; 2025: –6.5; 2025: 3.8; 2025: 3.9
  - Imports: 2006–15 avg: 8.2; 2016: 5.4; 2019: 13.4; 2020: 11.4; 2021: –1.8; 2022: –7.7; 2023: 30.3; 2024: 12.1; 2025: –3.3; 2025: 5.1; 2025: 4.3
- Emerging and Developing Asia (selected):
  - Value in US Dollars, Exports: 2006–15 avg: 10.2; 2016: 5.2; 2019: 12.1; 2023: 28.5; 2024: 6.8; 2025: –5.7; 2025: 4.5; 2025: 4.1
  - Volume, Exports: 2006–15 avg: 7.5; 2016: 3.9; 2023: 16.3; 2024: –1.4; 2025: 1.3; 2025: 3.1; 2025: 3.0
  - Terms of Trade: 2006–15 avg: 0.6; 2016: –0.9; 2023: –7.0; 2024: 0.7; 2025: –1.4; 2025: 1.0; 2025: 1.3
- Emerging and Developing Europe (selected):
  - Value in US Dollars, Exports: 2006–15 avg: 5.3; 2016: 5.6; 2022: 34.1; 2023: 11.7; 2024: –9.2; 2025: 7.1; 2025: 3.9
  - Volume, Exports: 2006–15 avg: 3.9; 2016: 2.8; 2023: 9.0; 2024: –0.9; 2025: –7.1; 2025: 7.5; 2025: 4.5
- Latin America and the Caribbean (selected):
  - Value in US Dollars, Imports: 2006–15 avg: 7.0; 2016: 4.2; 2019: 11.5; 2020: –3.0; 2021: –15.6; 2022: 36.8; 2023: 20.7; 2024: –5.5; 2025: 2.6; 2025: 4.0
  - Volume, Exports: 2006–15 avg: 2.6; 2016: 2.1; 2023: 6.8; 2024: 6.3; 2025: –1.2; 2025: 3.7; 2025: 2.5
- Middle East and Central Asia (selected):
  - Value in US Dollars, Exports: 2006–15 avg: 4.5; 2016: 4.8; 2020: 16.8; 2021: –7.5; 2022: –23.9; 2023: 42.2; 2024: 37.7; 2025: –10.0; 2025: –0.3; 2025: 3.7
  - Terms of Trade: 2006–15 avg: –1.5; 2016: 0.2; 2022: 20.9; 2023: 13.7; 2024: –10.5; 2025: –2.7; 2025: –3.9
- Sub-Saharan Africa (selected):
  - Value in US Dollars, Exports: 2006–15 avg: 3.7; 2016: 4.7; 2019: 17.2; 2020: 15.1; 2021: –3.5; 2022: –15.6; 2023: 35.3; 2024: 16.1; 2025: –9.3; 2025: 5.5; 2025: 4.1
  - Volume, Exports: 2006–15 avg: 2.1; 2016: 2.0; 2019: –0.5; 2020: 2.3; 2021: 2.6; 2022: 1.9; 2023: –7.3; 2024: 4.5; 2025: 4.5; 2025: 2.3; 2025: 5.1; 2025: 4.9

### Emerging Market and Developing Economies by Source of Export Earnings: Total Trade in Goods (Annual percent change)
- Fuel exporters (selected):
  - Value in US Dollars, Exports: 2006–15 avg: 3.7; 2016: 4.3; 2018: –9.7; 2019: 17.4; 2020: 17.7; 2021: –9.0; 2022: –27.7; 2023: 45.5; 2024: 39.7; 2025: –11.5; 2025: 0.1; 2025: 2.7
  - Volume, Exports: 2006–15 avg: 3.0; 2016: 1.0; 2019: 0.8; 2020: –0.8; 2021: –3.2; 2022: –6.5; 2023: 2.1; 2024: 7.3; 2025: 2.7; 2025: 1.9; 2025: 5.8
  - Terms of Trade: 2006–15 avg: –1.5; 2016: 0.1; 2018: –7.3; 2019: 12.1; 2020: 12.7; 2021: –7.3; 2022: –20.7; 2023: 24.0; 2024: 17.9; 2025: –12.3; 2025: –3.5; 2025: –4.7
- Nonfuel exporters (selected):
  - Value in US Dollars, Exports: 2006–15 avg: 8.0; 2016: 5.3; 2019: 13.0; 2020: 10.2; 2021: –1.2; 2022: –2.2; 2023: 29.3; 2024: 9.5; 2025: –5.4; 2025: 4.5; 2025: 4.1
  - Terms of Trade: 2006–15 avg: 0.7; 2016: –0.2; 2018: –0.4; 2019: –0.5; 2020: –0.9; 2021: 0.8; 2022: 0.5; 2023: –2.1; 2024: –0.2; 2025: 0.1; 2025: 0.3; 2025: 0.7
- Primary Products (selected):
  - Value in US Dollars, Exports: 2006–15 avg: 5.7; 2016: 5.7; 2018: –0.1; 2019: 12.8; 2020: 8.2; 2021: –3.0; 2022: –3.9; 2023: 36.5; 2024: 7.0; 2025: –7.3; 2025: 6.1; 2025: 6.5
  - Terms of Trade: 2006–15 avg: 2.8; 2016: 1.3; 2018: 3.2; 2019: 4.4; 2020: –0.8; 2021: 0.2; 2022: 9.9; 2023: 8.1; 2024: –6.3; 2025: –1.6; 2025: –2.7; 2025: 0.0

### Summary of Current Account Transactions (Billions of US dollars)
- Advanced Economies aggregate (Projections):
  - Current Account Balance, 2018: –76.4; 2019: 200.8; 2020: 390.2; 2021: 394.7; 2022: 174.8; 2023: 546.3; 2024 (proj): –193.9; 2025 (proj): 286.8; 2026–29 average: 439.9; (additional projections listed up to 493.6)
  - Trade Balance, 2018: 2.6; 2019: 207.4; 2020: 346.2; 2021: 284.9; 2022: 238.5; 2023: 433.7; 2024 (proj): –161.5; 2025 (proj): 342.0; 2026–29 average: 461.0; (additional projections listed up to 596.6)
  - Goods Balance, 2018: –398.7; 2019: –296.0; 2020: –329.7; 2021: –308.5; 2022: –265.9; 2023: –320.4; 2024 (proj): –885.7; 2025 (proj): –397.1; 2026–29 average: –315.6; (additional projections listed up to –297.4)
- United States (selected series, Billions of US dollars):
  - Current Account Balance: 2018: –505.3; 2019: –398.4; 2020: –439.8; 2021: –441.8; 2022: –597.1; 2023: –831.4; 2024 (proj): –971.6; 2025 (proj): –812.7; 2026–29 average: –732.6; 2026–29 projection: –758.4; 2026–29: –755.2
  - Goods Exports of Goods: 2018: 1,367.8; 2019: 1,513.4; 2020: 1,676.9; 2021: 1,655.1; 2022: 1,433.9; 2023: 1,765.9; 2024 (proj): 2,089.9; 2025 (proj): 2,056.7; 2026–29 average: 2,126.3; 2026–29: 2,219.8; 2026–29: 2,477.0
  - Goods Imports of Goods: 2018: 2,102.1; 2019: 2,249.9; 2020: 2,555.7; 2021: 2,512.4; 2022: 2,346.7; 2023: 2,849.4; 2024 (proj): 3,272.9; 2025 (proj): 3,121.1; 2026–29 average: 3,157.2; 2026–29: 3,242.7; 2026–29: 3,542.8
- Euro Area and selected countries (selected entries):
  - Euro Area Current Account Balance: 2018: 62.0; 2019: 211.6; 2020: 389.1; 2021: 321.5; 2022: 234.8; 2023: 416.8; 2024 (proj): –77.6; 2025 (proj): 289.2; 2026–29 average: 368.2; 2026–29: 384.4; 2026–29: 405.8
  - Germany Current Account Balance: 2018: 231.4; 2019: 260.3; 2020: 316.2; 2021: 317.8; 2022: 274.2; 2023: 329.8; 2024 (proj): 180.1; 2025 (proj): 303.2; 2026–29 average: 321.7; 2026–29: 329.1; 2026–29: 327.5
- Japan (selected):
  - Current Account Balance: 2018: 130.4; 2019: 128.9; 2020: 177.8; 2021: 176.3; 2022: 149.9; 2023: 196.4; 2024 (proj): 84.5; 2025 (proj): 144.7; 2026–29 average: 142.6; 2026–29: 149.7; 2026–29: 161.0
- United Kingdom (selected):
  - Current Account Balance: 2018: –101.4; 2019: –108.3; 2020: –112.9; 2021: –76.7; 2022: –77.5; 2023: –14.9; 2024 (proj): –95.5; 2025 (proj): –73.5; 2026–29 average: –90.7; 2026–29: –103.7; 2026–29: –120.4
- Other Advanced Economies (aggregate):
  - Current Account Balance: 2006–15 avg: 256.7; 2016: 312.4; 2018: 333.3; 2019: 343.7; 2020: 380.9; 2021: 593.8; 2022: 600.0; 2023: 551.2; 2024 (proj): 593.6; 2025 (proj): 610.6; 2026–29 average: 642.1
- Emerging Market and Developing Economies (selected, Billions of US dollars):
  - Current Account Balance: 2018: 341.8; 2019: 135.4; 2020: –59.0; 2021: –7.7; 2022: 145.5; 2023: 372.3; 2024 (proj): 648.6; 2025 (proj): 277.1; 2026–29 average: 128.5; 2026–29 projection: 104.5; 2026–29: –25.5
  - Trade Balance: 2018: 475.3; 2019: 355.4; 2020: 183.4; 2021: 184.3; 2022: 318.8; 2023: 606.3; 2024 (proj): 932.3; 2025 (proj): 496.8; 2026–29 average: 405.4; 2026–29: 399.6; 2026–29: 297.8
  - Goods Exports: 2018: 6,130.7; 2019: 6,910.0; 2020: 7,737.7; 2021: 7,537.6; 2022: 7,039.2; 2023: 9,262.8; 2024 (proj): 10,533.4; 2025 (proj): 9,848.3; 2026–29 average: 10,224.3; 2026–29: 10,620.8; 2026–29: 11,840.8
  - Goods Imports: 2018: 5,377.5; 2019: 6,209.5; 2020: 7,163.3; 2021: 7,040.0; 2022: 6,492.2; 2023: 8,457.5; 2024 (proj): 9,479.5; 2025 (proj): 9,179.7; 2026–29 average: 9,650.7; 2026–29: 10,061.9; 2026–29: 11,377.7
  - Services Balance: 2018: –260.0; 2019: –336.9; 2020: –374.7; 2021: –301.8; 2022: –228.0; 2023: –183.6; 2024 (proj): –101.1; 2025 (proj): –156.7; 2026–29 average: –153.7; 2026–29: –144.3; 2026–29: –152.1
  - Primary Income Balance: 2018: –390.6; 2019: –462.4; 2020: –538.1; 2021: –519.6; 2022: –501.6; 2023: –621.8; 2024 (proj): –729.7; 2025 (proj): –669.2; 2026–29 average: –747.0; 2026–29: –779.2; 2026–29: –866.9
  - Secondary Income Balance: 2018: 244.0; 2019: 240.5; 2020: 284.4; 2021: 323.0; 2022: 333.2; 2023: 382.2; 2024 (proj): 433.7; 2025 (proj): 436.6; 2026–29 average: 455.2; 2026–29: 467.4; 2026–29: 529.2

*Source: tableb - Section 3 (selected tables and projections extracted from the provided PDF content).*

### Section 4

### Table B15–B19: Selected Statistical Tables (Sections on Current Account Transactions; External Debt and Debt Service; External Debt by Maturity; Ratio of External Debt to GDP)

### Summary of Current Account Transactions — Regional Groups (Table B15, continued)
- Emerging and Developing Asia (Billions of US dollars)
  - Current Account Balance: 244.3, 181.4, –53.4, 93.6, 319.7, 287.5, 294.9, 241.1, 180.1, 192.6, 144.0
  - Trade Balance: 205.8, 180.5, –22.1, 76.3, 371.1, 341.8, 416.2, 289.6, 273.9, 299.0, 252.2
  - Goods Balance: 238.2, 266.1, 168.3, 225.9, 471.8, 405.7, 424.3, 390.3, 376.9, 412.5, 421.3
  - Exports of Goods: 2,601.1, 3,143.5, 3,792.2, 3,745.1, 3,815.9, 4,902.3, 5,237.8, 4,938.6, 5,158.5, 5,368.4, 6,060.2
  - Imports of Goods: 2,362.8, 2,877.4, 3,623.9, 3,519.1, 3,344.1, 4,496.6, 4,813.6, 4,548.3, 4,781.5, 4,955.8, 5,638.9
  - Services Balance: –32.5, –85.6, –190.4, –149.6, –100.7, –63.9, –8.0, –100.6, –103.1, –113.5, –169.1
  - Primary Income Balance: –89.9, –131.0, –180.0, –153.1, –222.1, –248.1, –328.8, –265.0, –320.8, –345.7, –388.9
  - Secondary Income Balance: 128.4, 132.0, 148.7, 170.4, 170.7, 193.8, 207.5, 216.4, 227.1, 239.3, 280.7

- Emerging and Developing Europe (Billions of US dollars)
  - Current Account Balance: –25.1, –21.3, 62.7, 49.3, 1.9, 66.7, 127.9, –23.0, –17.0, –25.0, –19.4
  - Trade Balance: 46.2, 59.9, 139.2, 137.7, 62.5, 161.7, 193.3, 41.3, 68.6, 70.9, 90.7
  - Goods Balance: 27.6, 36.3, 77.0, 72.9, 6.5, 79.6, 95.0, –56.5, –35.3, –50.3, –66.2
  - Exports of Goods: 983.2, 1,054.0, 1,186.2, 1,168.1, 1,059.0, 1,420.2, 1,586.5, 1,439.6, 1,542.6, 1,603.4, 1,788.4
  - Imports of Goods: 955.6, 1,017.7, 1,109.2, 1,095.2, 1,052.5, 1,340.6, 1,491.5, 1,496.2, 1,577.9, 1,653.7, 1,854.6
  - Services Balance: 18.6, 23.6, 62.2, 64.8, 56.0, 82.1, 98.3, 8.2, 103.9, 121.2, 156.9
  - Primary Income Balance: –88.9, –95.8, –91.2, –103.6, –77.6, –111.9, –99.2, –96.4, –114.8, –118.0, –128.5
  - Secondary Income Balance: 17.6, 14.6, 14.7, 15.3, 17.0, 16.9, 33.9, 32.1, 29.3, 22.2, 18.5

- Middle East and Central Asia (Billions of US dollars)
  - Current Account Balance: 241.3, 161.0, 113.1, 15.9, –118.9, 136.5, 403.8, 189.5, 90.7, 74.0, 7.1
  - Trade Balance: 265.1, 210.5, 162.8, 75.4, –67.4, 181.5, 462.2, 252.4, 144.7, 121.8, 66.6
  - Goods Balance: 410.1, 359.6, 309.2, 195.8, 12.9, 282.2, 538.5, 305.5, 201.2, 173.3, 101.4
  - Exports of Goods: 1,275.0, 1,337.7, 1,317.0, 1,220.1, 916.1, 1,320.6, 1,811.5, 1,628.9, 1,623.5, 1,682.9, 1,820.2
  - Imports of Goods: 864.9, 978.1, 1,007.8, 1,024.3, 903.3, 1,038.3, 1,273.0, 1,323.4, 1,422.3, 1,509.6, 1,718.8
  - Services Balance: –127.1, –140.7, –130.3, –109.1, –80.1, –85.4, –56.0, –39.0, –42.1, –36.7, –21.7
  - Primary Income Balance: –24.5, –26.5, –34.1, –39.8, –28.7, –30.4, –50.6, –38.7, –32.0, –26.3, –35.8
  - Secondary Income Balance: –12.3, –25.0, –26.9, –24.4, –17.9, –20.2, –20.1, –37.0, –36.9, –38.1, –38.3

- Latin America and the Caribbean (Billions of US dollars)
  - Current Account Balance: –96.9, –144.5, –146.0, –111.4, –12.7, –99.9, –137.7, –76.6, –72.9, –84.4, –102.6
  - Trade Balance: –25.2, –58.0, –55.4, –36.2, 19.9, –49.4, –97.5, –17.8, –13.1, –21.7, –38.0
  - Goods Balance: 34.7, 14.7, 3.1, 10.5, 71.5, 15.0, –21.2, 44.6, 44.2, 35.3, 23.3
  - Exports of Goods: 928.1, 1,015.3, 1,088.3, 1,062.5, 959.6, 1,229.5, 1,444.2, 1,430.1, 1,466.3, 1,514.9, 1,667.9
  - Imports of Goods: 893.4, 1,000.5, 1,085.2, 1,052.0, 888.1, 1,214.6, 1,465.4, 1,385.5, 1,422.1, 1,479.7, 1,644.6
  - Services Balance: –59.9, –72.9, –58.3, –46.6, –51.6, –64.4, –76.1, –62.4, –57.2, –56.9, –61.3
  - Primary Income Balance: –137.4, –156.5, –182.2, –174.6, –139.6, –182.5, –189.0, –217.0, –226.8, –234.0, –252.2
  - Secondary Income Balance: 65.7, 69.9, 91.5, 99.4, 107.0, 132.1, 148.9, 158.2, 167.0, 171.2, 187.6

- Sub-Saharan Africa (Billions of US dollars)
  - Current Account Balance: –21.8, –41.1, –35.4, –55.1, –44.6, –18.5, –40.3, –53.8, –52.4, –52.8, –54.5
  - Trade Balance: –16.5, –37.6, –41.1, –68.9, –67.2, –29.3, –41.8, –68.7, –68.7, –70.4, –73.6
  - Goods Balance: 42.6, 23.7, 16.7, –7.7, –15.7, 22.7, 17.3, –15.3, –13.4, –12.0, –16.7
  - Exports of Goods: 343.3, 359.5, 354.0, 341.8, 288.6, 390.3, 453.3, 411.0, 433.4, 451.2, 504.1
  - Imports of Goods: 300.7, 335.8, 337.3, 349.4, 304.3, 367.5, 436.0, 426.3, 446.8, 463.2, 520.8
  - Services Balance: –59.1, –61.3, –57.8, –61.2, –51.6, –52.0, –59.2, –53.4, –55.3, –58.4, –56.9
  - Primary Income Balance: –49.9, –52.5, –50.6, –48.6, –33.6, –48.8, –62.0, –52.0, –52.5, –55.1, –61.6
  - Secondary Income Balance: 44.6, 49.0, 56.3, 62.3, 56.3, 59.6, 63.6, 66.8, 68.8, 72.8, 80.7

### Summary of Current Account Transactions — Analytical Groups (Table B15, continued)
- By Source of Export Earnings — Fuel (Billions of US dollars)
  - Current Account Balance: 311.7, 223.3, 204.5, 69.5, –97.8, 193.9, 502.7, 240.9, 168.4, 135.3, 81.9
  - Trade Balance: 404.0, 353.4, 332.1, 194.9, 20.1, 321.9, 664.2, 375.3, 294.6, 268.0, 240.3
  - Goods Balance: 629.3, 582.1, 544.9, 391.2, 140.9, 465.3, 806.7, 509.1, 429.7, 403.5, 368.1
  - Exports of Goods: 1,416.5, 1,464.4, 1,374.8, 1,253.5, 895.1, 1,321.5, 1,838.8, 1,625.6, 1,627.5, 1,670.5, 1,777.5
  - Imports of Goods: 787.2, 882.3, 829.9, 862.3, 754.2, 856.2, 1,032.1, 1,116.5, 1,197.7, 1,267.1, 1,409.4
  - Services Balance: –207.4, –220.3, –196.7, –185.0, –120.7, –128.1, –122.2, –119.7, –120.8, –120.6, –114.6
  - Primary Income Balance: –50.4, –52.4, –51.4, –45.9, –23.5, –31.7, –62.2, –33.5, –22.2, –23.6, –30.1
  - Secondary Income Balance: –53.6, –79.3, –87.4, –84.1, –89.6, –102.0, –111.7, –108.0, –113.7, –119.7, –136.0

- By Source of Export Earnings — Nonfuel (Billions of US dollars)
  - Current Account Balance: 31.8, –85.8, –261.4, –75.4, 245.2, 180.2, 148.0, 38.7, –36.8, –28.4, –104.5
  - Trade Balance: 75.7, 7.0, –142.2, –4.2, 304.4, 291.3, 276.8, 129.8, 119.1, 140.2, 67.2
  - Goods Balance: 128.5, 123.2, 34.9, 111.8, 410.9, 345.9, 254.7, 166.6, 150.9, 162.7, 103.4
  - Exports of Goods: 4,706.9, 5,442.5, 6,361.1, 6,282.3, 6,142.4, 7,939.0, 8,691.9, 8,220.5, 8,594.6, 8,948.0, 10,060.7
  - Imports of Goods: 4,578.4, 5,319.3, 6,326.3, 6,170.5, 5,731.6, 7,593.1, 8,437.2, 8,053.9, 8,443.7, 8,785.2, 9,957.4
  - Services Balance: –52.8, –116.3, –176.9, –115.8, –106.4, –54.6, 22.3, –35.9, –31.8, –22.5, –36.1
  - Primary Income Balance: –340.2, –411.0, –489.5, –476.7, –480.6, –593.7, –672.0, –635.7, –724.8, –755.6, –836.8
  - Secondary Income Balance: 296.3, 318.2, 370.4, 405.4, 421.5, 482.6, 543.3, 544.6, 569.0, 587.0, 665.2

- By External Financing Source — Net Debtor Economies (Billions of US dollars)
  - Current Account Balance: –285.3, –337.6, –364.7, –266.5, –101.5, –331.4, –471.6, –253.2, –338.3, –370.8, –457.4
  - Trade Balance: –292.2, –333.4, –370.1, –300.6, –197.5, –381.5, –565.3, –309.5, –372.7, –412.4, –502.2
  - Goods Balance: –291.5, –359.7, –476.5, –433.3, –243.0, –439.7, –684.2, –515.4, –596.9, –668.3, –822.9
  - Exports of Goods: 2,556.0, 2,897.4, 3,344.4, 3,326.4, 3,114.2, 3,987.6, 4,544.3, 4,459.6, 4,659.6, 4,873.4, 5,543.3
  - Imports of Goods: 2,847.4, 3,257.1, 3,820.9, 3,759.7, 3,357.2, 4,427.4, 5,228.4, 4,975.0, 5,256.5, 5,541.6, 6,366.2
  - Services Balance: –0.7, 26.1, 106.6, 133.0, 45.6, 58.2, 119.0, 205.9, 224.3, 256.0, 320.8
  - Primary Income Balance: –291.9, –338.8, –395.5, –396.1, –337.6, –445.7, –456.0, –504.0, –549.9, –562.0, –639.2
  - Secondary Income Balance: 297.4, 334.4, 400.9, 430.2, 433.6, 495.8, 549.7, 554.5, 579.2, 597.3, 677.1

- Net Debtor Economies by Debt-Servicing Experience — Economies with Arrears and/or Rescheduling during 2018–22 (Billions of US dollars)
  - Current Account Balance: –45.8, –61.9, –52.9, –52.8, –34.2, –39.0, –36.6, –48.3, –72.1, –64.2, –59.2
  - Trade Balance: –62.6, –85.9, –91.7, –91.1, –79.9, –79.9, –107.7, –104.4, –118.2, –113.6, –110.8
  - Goods Balance: –46.9, –67.6, –83.8, –90.0, –72.4, –67.8, –81.9, –91.5, –101.6, –105.6, –119.3
  - Exports of Goods: 283.7, 296.0, 293.6, 290.8, 259.0, 344.0, 381.0, 347.7, 361.9, 380.3, 443.9
  - Imports of Goods: 330.6, 363.6, 377.4, 380.9, 331.4, 411.8, 462.9, 439.3, 463.6, 485.9, 563.1
  - Services Balance: –15.7, –18.2, –7.8, –1.0, –7.5, –12.1, –25.8, –12.9, –16.5, –8.0, 8.5
  - Primary Income Balance: –30.7, –34.1, –37.3, –45.2, –38.2, –52.3, –45.8, –51.4, –62.9, –57.4, –66.0
  - Secondary Income Balance: 47.5, 58.0, 76.0, 83.4, 83.9, 93.3, 116.9, 107.5, 109.0, 106.9, 117.6

- Memorandum — World (Billions of US dollars)
  - Current Account Balance: 265.4, 336.3, 331.2, 387.1, 320.3, 918.6, 454.7, 563.9, 568.4, 554.0, 468.1

### Emerging Market and Developing Economies: Summary of External Debt and Debt Service (Table B16)
- External Debt — Emerging Market and Developing Economies (Billions of US dollars, projections 2016–2025)
  - Total External Debt: 8,664.8, 9,636.8, 10,078.4, 10,588.5, 11,308.1, 12,054.7, 11,762.2, 12,163.3, 12,723.3, 13,361.1 (2016–2025)
- External Debt — Regional Groups (Total Debt across 2016–2025, selected series)
  - Emerging and Developing Asia Total Debt: 2,871.3, 3,374.7, 3,671.4, 3,851.8, 4,270.9, 4,726.3, 4,437.1, 4,617.1, 4,946.2, 5,314.5
  - Emerging and Developing Europe Total Debt: 1,745.6, 1,870.4, 1,767.1, 1,794.1, 1,872.6, 1,928.5, 1,868.4, 1,926.4, 1,982.7, 2,046.0
  - Latin America and the Caribbean Total Debt: 2,161.4, 2,265.5, 2,348.1, 2,427.7, 2,462.3, 2,541.8, 2,580.2, 2,649.3, 2,726.5, 2,808.8
  - Middle East and Central Asia Total Debt: 1,367.6, 1,510.2, 1,632.9, 1,804.7, 1,969.0, 2,101.5, 2,088.3, 2,165.0, 2,234.8, 2,324.2
  - Sub-Saharan Africa Total Debt: 518.8, 616.1, 658.8, 710.2, 733.4, 756.7, 788.1, 805.5, 833.1, 867.7

- Analytical Groups — By External Financing Source
  - Net Debtor Economies Total Debt: 5,286.4, 5,752.6, 5,889.0, 6,122.6, 6,420.2, 6,697.7, 6,805.5, 7,137.2, 7,444.1, 7,806.8
  - Economies with Arrears and/or Rescheduling during 2018–22 Total Debt: 667.8, 737.4, 786.8, 830.3, 861.8, 902.3, 930.2, 959.4, 969.9, 1,000.7

- Other Groups (Total Debt, 2016–2025)
  - Middle East and North Africa: 1,064.9, 1,187.1, 1,303.3, 1,456.8, 1,599.4, 1,718.1, 1,702.5, 1,776.1, 1,821.0, 1,888.3
  - Emerging Market and Middle-Income Economies: 8,156.3, 9,050.0, 9,436.8, 9,893.2, 10,552.2, 11,245.0, 10,917.9, 11,284.6, 11,803.3, 12,394.0
  - Low-Income Developing Countries: 508.5, 586.8, 641.6, 695.3, 756.0, 809.7, 844.3, 878.7, 919.9, 967.1
  - Heavily Indebted Poor Countries: 281.4, 311.2, 340.1, 359.8, 388.3, 402.8, 412.6, 433.8, 464.3, 490.0

- Debt-Service Payments — Emerging Market and Developing Economies (Billions of US dollars, 2016–2025)
  - Total Debt-Service Payments: 2,987.7, 2,987.1, 3,489.7, 3,722.7, 3,736.7, 3,926.6, 4,182.3, 4,221.1, 4,308.9, 4,550.8

- Debt-Service Payments — Regional Groups (2016–2025, selected series)
  - Emerging and Developing Asia: 1,547.2, 1,530.9, 1,880.3, 2,061.8, 2,040.7, 2,242.7, 2,459.6, 2,340.3, 2,422.2, 2,583.0
  - Emerging and Developing Europe: 588.0, 582.6, 655.0, 620.1, 637.6, 679.8, 648.5, 696.9, 748.8, 771.7
  - Latin America and the Caribbean: 556.1, 555.6, 572.0, 632.2, 642.1, 591.4, 601.2, 642.4, 647.8, 683.6
  - Middle East and Central Asia: 214.1, 233.5, 266.7, 292.1, 306.6, 295.4, 367.7, 384.9, 374.8, 386.1
  - Sub-Saharan Africa: 82.3, 84.6, 115.8, 116.6, 109.6, 117.3, 105.4, 156.6, 115.3, 126.6

- Analytical Groups — Debt-Service Payments (2016–2025)
  - Net Debtor Economies: 1,450.8, 1,469.1, 1,576.7, 1,604.4, 1,643.8, 1,648.5, 1,706.6, 1,866.9, 1,955.0, 2,044.6
  - Economies with Arrears and/or Rescheduling during 2018–22: 183.4, 198.0, 214.8, 228.4, 218.7, 201.3, 206.8, 211.9, 203.1, 209.2

- Other Groups — Debt-Service Payments (2016–2025)
  - Middle East and North Africa: 182.0, 195.6, 224.4, 243.5, 258.1, 246.3, 306.8, 309.3, 304.5, 311.3
  - Emerging Market and Middle-Income Economies: 2,946.8, 2,943.5, 3,428.4, 3,663.5, 3,677.1, 3,861.0, 4,114.2, 4,146.7, 4,223.3, 4,461.4
  - Low-Income Developing Countries: 40.9, 43.6, 61.3, 59.2, 59.6, 65.6, 68.1, 74.4, 85.6, 89.4
  - Heavily Indebted Poor Countries: 18.0, 22.0, 24.5, 27.9, 28.8, 37.9, 35.0, 36.3, 39.1, 45.1

### External Debt by Maturity (Table B17 and B18)
- Emerging Market and Developing Economies — Total Debt and Maturity (Billions of US dollars, 2016–2025)
  - Total Debt: 8,664.8, 9,636.8, 10,078.4, 10,588.5, 11,308.1, 12,054.7, 11,762.2, 12,163.3, 12,723.3, 13,361.1
  - By Maturity — Short Term: 2,134.1, 2,542.3, 2,766.3, 2,754.6, 2,877.9, 3,141.7, 3,112.7, 3,182.9, 3,364.3, 3,578.0
  - By Maturity — Long Term: 6,530.7, 7,094.6, 7,312.1, 7,833.9, 8,430.2, 8,913.0, 8,649.5, 8,980.4, 9,358.9, 9,783.1

- Regional examples — Emerging and Developing Asia (Billions of US dollars)
  - Total Debt: 2,871.3, 3,374.7, 3,671.4, 3,851.8, 4,270.9, 4,726.3, 4,437.1, 4,617.1, 4,946.2, 5,314.5
  - Short Term: 1,174.5, 1,498.8, 1,654.8, 1,569.6, 1,682.4, 1,851.2, 1,757.8, 1,797.9, 1,934.0, 2,088.3
  - Long Term: 1,696.8, 1,875.9, 2,016.6, 2,282.2, 2,588.6, 2,875.1, 2,679.3, 2,819.2, 3,012.2, 3,226.1

- Regional examples — Emerging and Developing Europe (Billions of US dollars)
  - Total Debt: 1,745.6, 1,870.4, 1,767.1, 1,794.1, 1,872.6, 1,928.5, 1,868.4, 1,926.4, 1,982.7, 2,046.0
  - Short Term: 291.3, 334.0, 314.4, 339.7, 372.8, 413.9, 444.2, 474.1, 499.5, 525.9
  - Long Term: 1,454.3, 1,536.4, 1,452.7, 1,454.4, 1,499.8, 1,514.6, 1,424.3, 1,452.3, 1,483.1, 1,520.1

- Regional examples — Latin America and the Caribbean (Billions of US dollars)
  - Total Debt: 2,161.4, 2,265.5, 2,348.1, 2,427.7, 2,462.3, 2,541.8, 2,580.2, 2,649.3, 2,726.5, 2,808.8
  - Short Term: 275.2, 288.1, 332.2, 341.3, 298.8, 323.6, 339.4, 353.1, 366.0, 380.0
  - Long Term: 1,886.2, 1,977.4, 2,015.9, 2,086.4, 2,163.5, 2,218.2, 2,240.8, 2,296.2, 2,360.5, 2,428.7

- By Source of Export Earnings — Fuel (Total Debt and Maturity, Billions of US dollars)
  - Total Debt: 1,242.6, 1,356.1, 1,462.1, 1,605.3, 1,740.0, 1,853.0, 1,825.0, 1,882.1, 1,941.9, 2,007.5
  - Short Term: 258.4, 263.9, 287.2, 331.4, 370.7, 402.7, 396.7, 402.2, 407.5, 420.6
  - Long Term: 984.2, 1,092.2, 1,174.9, 1,273.9, 1,369.3, 1,450.3, 1,428.3, 1,479.9, 1,534.4, 1,586.9

- By Source of Export Earnings — Nonfuel (Total Debt and Maturity, Billions of US dollars)
  - Total Debt: 7,420.5, 8,279.1, 8,614.7, 8,981.2, 9,566.1, 10,199.6, 9,935.0, 10,279.0, 10,779.1, 11,351.2
  - Short Term: 1,875.6, 2,278.3, 2,479.1, 2,423.2, 2,507.2, 2,739.0, 2,716.0, 2,780.8, 2,956.8, 3,157.4
  - Long Term: 5,544.9, 6,000.8, 6,135.6, 6,558.0, 7,058.9, 7,460.6, 7,219.0, 7,498.2, 7,822.3, 8,193.8

- Net Debtor Economies by Maturity (Billions of US dollars)
  - Net Debtor Economies Total Debt: 5,286.4, 5,752.6, 5,889.0, 6,122.6, 6,420.2, 6,697.7, 6,805.5, 7,137.2, 7,444.1, 7,806.8
  - Short Term: 816.1, 920.0, 953.3, 987.4, 989.8, 1,070.9, 1,170.6, 1,201.7, 1,258.3, 1,333.6
  - Long Term: 4,470.3, 4,832.5, 4,935.7, 5,135.3, 5,430.4, 5,626.9, 5,634.9, 5,935.5, 6,185.8, 6,473.2

- Selected other group maturities (Billions of US dollars)
  - Economies with Arrears and/or Rescheduling during 2018–22 — Total Debt: 667.8, 737.4, 786.8, 830.3, 861.8, 902.3, 930.2, 959.4, 969.9, 1,000.7
    - Short Term: 119.9, 133.5, 139.2, 131.9, 121.8, 119.3, 128.2, 110.2, 109.4, 110.3
    - Long Term: 547.9, 603.9, 647.6, 698.4, 740.1, 783.0, 802.0, 849.3, 860.5, 890.4
  - Heavily Indebted Poor Countries — Total Debt: 281.4, 311.2, 340.1, 359.8, 388.3, 402.8, 412.6, 433.8, 464.3, 490.0
    - Short Term: 4.0, 4.2, 3.9, 3.5, 4.5, 4.4, 4.1, 4.3, 4.2, 4.5
    - Long Term: 277.4, 307.0, 336.3, 356.3, 383.7, 398.4, 408.6, 429.5, 460.1, 485.5
  - Low-Income Developing Countries — Total Debt: 508.5, 586.8, 641.6, 695.3, 756.0, 809.7, 844.3, 878.7, 919.9, 967.1
    - Short Term: 20.7, 36.9, 43.8, 52.0, 48.2, 51.3, 51.7, 48.6, 39.8, 39.9
    - Long Term: 487.8, 550.0, 597.8, 643.3, 707.8, 758.4, 792.6, 830.1, 880.1, 927.2
  - Middle East and North Africa — Total Debt: 1,064.9, 1,187.1, 1,303.3, 1,456.8, 1,599.4, 1,718.1, 1,702.5, 1,776.1, 1,821.0, 1,888.3
    - Short Term: 322.7, 328.3, 358.1, 390.9, 421.1, 447.6, 451.3, 444.2, 453.2, 468.1
    - Long Term: 742.3, 858.8, 945.3, 1,066.0, 1,178.2, 1,270.5, 1,251.2, 1,332.0, 1,367.8, 1,420.1

### Ratio and Indicators — External Debt Ratios and Debt-Service Ratios (Table B16 continued; Table B19)
- External Debt to Exports of Goods and Services (Percent, Emerging Market and Developing Economies, 2016–2025)
  - Emerging Market and Developing Economies: 118.3, 116.4, 109.4, 116.7, 137.7, 112.6, 95.2, 103.1, 103.4, 104.1

- External Debt — Regional Ratios (Percent of exports of goods and services, 2016–2025)
  - Emerging and Developing Asia: 78.4, 82.5, 82.3, 86.6, 97.7, 84.3, 72.8, 79.4, 80.9, 83.3
  - Emerging and Developing Europe: 157.5, 144.2, 118.4, 120.6, 142.9, 110.7, 95.5, 104.7, 100.8, 99.7
  - Latin America and the Caribbean: 203.4, 191.3, 183.6, 193.0, 227.2, 183.1, 155.3, 157.9, 158.0, 156.6
  - Middle East and Central Asia: 116.4, 112.8, 104.7, 122.3, 176.7, 137.4, 98.3, 109.4, 112.4, 112.2
  - Sub-Saharan Africa: 163.8, 167.5, 157.1, 173.8, 221.1, 172.5, 153.3, 168.2, 163.8, 162.7

- External Debt to GDP (Percent, Table B19, 2016–2025)
  - Emerging Market and Developing Economies: 30.0, 29.8, 30.6, 30.7, 33.2, 31.4, 29.0, 29.8, 28.6, 27.9
  - Regional examples:
    - Emerging and Developing Asia: 18.2, 18.5, 19.1, 18.9, 19.7, 19.3, 18.4, 18.5, 18.6, 18.5
    - Emerging and Developing Europe: 56.0, 50.6, 49.6, 46.0, 51.7, 50.5, 40.8, 40.9, 41.0, 39.8
    - Latin America and the Caribbean: 44.0, 42.5, 47.3, 48.0, 55.9, 51.5, 46.0, 46.7, 39.9, 39.0
    - Middle East and Central Asia: 38.6, 42.1, 43.7, 50.6, 61.7, 54.6, 46.9, 47.8, 47.4, 45.8
    - Sub-Saharan Africa: 35.1, 37.2, 40.0, 41.8, 44.5, 41.4, 41.3, 46.6, 46.2, 44.9

- Debt-Service Payments as Percent of Exports of Goods and Services (Selected series, 2016–2025)
  - Emerging Market and Developing Economies: 41.4, 36.6, 38.4, 41.5, 45.9, 37.1, 34.3, 36.2, 35.4, 35.9
  - Regional examples:
    - Emerging and Developing Asia: 42.3, 37.5, 42.2, 46.4, 46.7, 40.0, 40.4, 40.3, 39.7, 40.5
    - Emerging and Developing Europe: 53.2, 45.1, 44.0, 41.8, 48.8, 39.2, 33.2, 38.0, 38.2, 37.8
    - Latin America and the Caribbean: 53.9, 48.4, 46.1, 51.2, 59.7, 43.0, 36.6, 38.7, 38.0, 38.6
    - Middle East and Central Asia: 19.1, 18.4, 18.1, 20.9, 28.9, 20.4, 18.3, 20.5, 19.8, 19.5
    - Sub-Saharan Africa: 26.3, 23.3, 28.0, 28.9, 33.6, 27.1, 20.8, 33.2, 23.0, 24.1

- Additional ratio highlights (Percent, 2016–2025)
  - Net Debtor Economies — External Debt to Exports: 153.9, 147.4, 136.9, 141.3, 167.2, 137.9, 119.7, 124.5, 123.8, 123.5
  - Economies with Arrears and/or Rescheduling during 2018–22 — Debt-Service percent of exports: 60.9, 57.1, 54.6, 57.6, 65.7, 48.0, 43.6, 47.1, 43.8, 42.6
  - Emerging Market and Middle-Income Economies — External Debt to GDP: 29.9, 29.5, 30.4, 30.4, 32.8, 31.0, 28.5, 29.0, 27.9, 27.2

*International Monetary Fund | April 2024 — Statistical Appendix (Tables B15–B19, selected lines and projections as presented).*

### Section 5

### Emerging Market and Developing Economies: Debt-Service Ratios (Section 5)

### Interest Payments (Percent of exports of goods and services)
- Emerging Market and Developing Economies: 4.0, 3.8, 4.1, 4.4, 4.6, 3.6, 3.6, 4.5, 4.4, 4.3 (2016–2025)
- Regional Groups:
  - Emerging and Developing Asia: 3.2, 3.2, 3.6, 3.8, 4.0, 3.5, 3.6, 4.1, 4.1, 4.1
  - Emerging and Developing Europe: 4.0, 3.0, 2.9, 3.1, 3.2, 2.3, 2.1, 2.8, 2.6, 2.4
  - Latin America and the Caribbean: 7.0, 7.3, 7.7, 8.4, 8.4, 5.9, 5.5, 7.1, 6.9, 6.8
  - Middle East and Central Asia: 3.7, 3.5, 3.8, 4.5, 4.8, 2.9, 3.2, 5.1, 4.9, 4.6
  - Sub-Saharan Africa: 4.2, 3.9, 4.3, 4.7, 5.7, 4.8, 3.8, 4.6, 4.9, 4.9
- Analytical Groups by Source of Export Earnings:
  - Fuel: 3.5, 3.4, 3.7, 4.2, 4.8, 2.8, 3.1, 4.9, 4.7, 4.4
  - Nonfuel: 4.1, 3.9, 4.2, 4.5, 4.6, 3.7, 3.6, 4.4, 4.4, 4.3
  - Of which, Primary Products: 6.3, 6.8, 8.1, 8.6, 7.9, 5.2, 5.3, 6.4, 6.5, 6.2
- Analytical Groups by External Financing Source:
  - Net Debtor Economies: 4.3, 4.1, 4.3, 4.6, 4.6, 3.5, 3.6, 4.9, 4.7, 4.5
  - Net Debtor Economies by Debt-Servicing Experience — Economies with Arrears and/or Rescheduling during 2018–22: 5.8, 6.1, 6.7, 7.8, 8.4, 6.4, 5.6, 7.6, 8.8, 7.7
- Other Groups:
  - Middle East and North Africa: 3.1, 3.0, 3.3, 3.9, 4.1, 2.4, 2.9, 4.7, 4.6, 4.1
  - Emerging Market and Middle-Income Economies: 4.0, 3.9, 4.1, 4.5, 4.6, 3.5, 3.5, 4.5, 4.4, 4.3
  - Low-Income Developing Countries: 3.4, 3.3, 3.6, 3.6, 4.5, 4.5, 3.8, 4.3, 4.6, 4.8
  - Heavily Indebted Poor Countries: 3.9, 3.6, 4.0, 4.5, 5.0, 5.3, 3.8, 3.9, 4.4, 4.5

Notes:
- Excludes service payments to the IMF.
- Interest payments are on total debt. Estimates through 2023 reflect debt-service payments actually made. Estimates for 2024 and 2025 take into account projected exceptional-financing items, including accumulation of arrears and rescheduling arrangements. In some cases, amortization on account of debt-reduction operations is included.

### Amortization (Percent of exports of goods and services)
- Emerging Market and Developing Economies: 37.3, 32.7, 34.2, 37.0, 41.3, 33.5, 30.7, 31.7, 31.0, 31.5 (2016–2025)
- Regional Groups:
  - Emerging and Developing Asia: 39.1, 34.2, 38.6, 42.6, 42.7, 36.6, 36.6, 36.8, 36.1, 36.4
  - Emerging and Developing Europe: 49.2, 42.1, 41.1, 38.8, 45.6, 36.9, 31.1, 35.3, 35.6, 35.3
  - Latin America and the Caribbean: 46.1, 40.2, 37.6, 42.4, 51.2, 36.9, 30.9, 31.5, 31.0, 31.6
  - Middle East and Central Asia: 15.4, 14.8, 14.2, 16.4, 24.1, 17.5, 15.1, 15.4, 14.9, 15.0
  - Sub-Saharan Africa: 22.1, 19.4, 23.6, 24.2, 27.9, 22.4, 17.0, 28.6, 18.1, 19.2
- Analytical Groups by Source of Export Earnings:
  - Fuel: 10.3, 9.4, 9.4, 10.0, 16.6, 12.4, 10.9, 11.4, 11.6, 11.9
  - Nonfuel: 42.0, 36.8, 38.9, 41.8, 44.7, 36.6, 34.4, 35.3, 34.3, 34.8
  - Of which, Primary Products: 49.0, 42.5, 46.6, 52.3, 58.6, 42.1, 37.8, 46.1, 33.2, 32.9
- Analytical Groups by External Financing Source:
  - Net Debtor Economies: 38.2, 33.7, 32.5, 32.6, 38.4, 30.5, 26.5, 27.8, 28.0, 28.0
  - Net Debtor Economies by Debt-Servicing Experience — Economies with Arrears and/or Rescheduling during 2018–22: 55.1, 50.9, 47.9, 49.8, 57.3, 41.6, 38.0, 39.5, 35.1, 34.9
- Other Groups:
  - Middle East and North Africa: 15.1, 14.3, 13.9, 16.0, 23.6, 16.9, 14.6, 14.1, 13.8, 14.0
  - Emerging Market and Middle-Income Economies: 38.3, 33.6, 35.1, 38.2, 42.4, 34.3, 31.5, 32.5, 31.8, 32.4
  - Low-Income Developing Countries: 11.0, 10.1, 13.0, 11.6, 13.6, 12.1, 10.5, 11.4, 12.3, 11.7
  - Heavily Indebted Poor Countries: 8.6, 9.9, 9.5, 10.9, 11.9, 12.3, 10.1, 10.5, 9.6, 10.5

Notes:
- Interest payments and amortization on total debt. Estimates through 2023 reflect debt-service payments actually made. Estimates for 2024 and 2025 take into account projected exceptional-financing items, including accumulation of arrears and rescheduling arrangements. In some cases, amortization on account of debt-reduction operations is included.

### Medium-Term Baseline Scenario: Selected Economic Indicators (Annual percent change)
- Averages and Projections for Real GDP:
  - 2006–15 average: 5.7
  - 2016–25 average: 3.9
  - 2022: 4.1
  - 2023: 4.3
  - 2024: 4.2
  - 2025: 4.2
  - 2022–25: 4.2
  - 2026–29: 4.0
- Export Volume (Data refer to trade in goods and services):
  - 2006–15 average: 5.3
  - 2016–25 average: 3.2
  - 2022: 4.7
  - 2023: –0.1
  - 2024: 3.7
  - 2025: 3.9
  - 2022–25: 3.1
  - 2026–29: 4.0
- Terms of Trade:
  - 2006–15 average: 0.4
  - 2016–25 average: 0.0
  - 2022: 1.1
  - 2023: –1.1
  - 2024: 0.3
  - 2025: 0.0
  - 2022–25: 0.1
  - 2026–29: –0.2
- Import Volume:
  - 2006–15 average: 6.7
  - 2016–25 average: 2.9
  - 2022: 3.9
  - 2023: 2.0
  - 2024: 4.9
  - 2025: 4.1
  - 2022–25: 3.7
  - 2026–29: 4.1

Regional highlights (Real GDP, Export Volume, Terms of Trade, Import Volume):
- Emerging and Developing Asia:
  - Real GDP: 7.9, 5.2, 4.4, 5.6, 5.2, 4.9, 5.0, 4.6 (2006–15, 2016–25, 2022–2025, 2026–29)
  - Export Volume: 7.6, 3.7, 2.6, 0.0, 3.4, 3.4, 2.3, 4.0
  - Terms of Trade: 0.4, –0.7, 0.3, –1.4, 1.6, 1.0, 0.4, 0.4
  - Import Volume: 7.9, 3.4, 2.0, 0.6, 5.6, 4.2, 3.1, 4.9
- Emerging and Developing Europe:
  - Real GDP: 3.2, 2.8, 1.2, 3.2, 3.1, 2.8, 2.6, 2.6
  - Export Volume: 4.3, 3.4, 2.3, –5.6, 6.2, 3.9, 1.6, 4.0
  - Terms of Trade: 0.3, 0.8, 1.4, 1.5, 1.0, 0.6, 1.1, –0.1
  - Import Volume: 4.7, 4.6, 2.0, 5.2, 6.0, 4.6, 4.4, 3.7
- Latin America and the Caribbean:
  - Real GDP: 3.0, 1.3, 4.2, 2.3, 2.0, 2.5, 2.8, 2.6
  - Export Volume: 2.6, 2.1, 7.7, –0.1, 3.2, 3.3, 3.5, 3.3
  - Terms of Trade: 0.5, 1.0, –2.7, 6.1, –1.3, –0.5, 0.3, –0.4
  - Import Volume: 5.2, 2.2, 7.2, 0.7, 1.4, 3.3, 3.1, 3.1
- Middle East and Central Asia:
  - Real GDP: 4.2, 2.7, 5.3, 2.0, 2.8, 4.2, 3.6, 3.8
  - Export Volume: 4.4, 2.4, 13.1, 4.8, 2.3, 5.9, 6.4, 4.5
  - Terms of Trade: –1.1, 0.0, 8.6, –8.7, –3.1, –2.8, –1.7, –2.3
  - Import Volume: 6.8, 1.2, 9.8, 4.7, 4.8, 4.2, 5.9, 3.1
- Sub-Saharan Africa:
  - Real GDP: 5.2, 2.9, 4.0, 3.4, 3.8, 4.0, 3.8, 4.2
  - Export Volume: 2.5, 1.8, 5.8, 2.5, 5.5, 5.4, 4.8, 4.6
  - Terms of Trade: 0.9, 1.4, –0.6, –5.4, 0.3, –1.1, –1.8, –0.3
  - Import Volume: 6.9, 1.6, 7.0, 2.6, 5.0, 4.1, 4.7, 4.1

Analytical group example (Net Debtor Economies by Debt-Servicing Experience — Economies with Arrears and/or Rescheduling during 2018–22):
- Real GDP: 4.2, 2.8, 1.0, 2.8, 3.1, 4.4, 2.8, 4.7
- Export Volume: 1.4, 1.9, –0.7, –1.2, 4.2, 4.8, 1.8, 6.1
- Terms of Trade: 0.6, 0.9, –0.9, –0.4, 0.5, 2.0, 0.3, 0.4
- Import Volume: 4.6, 1.6, 1.1, –1.1, 6.8, 5.0, 2.9, 5.2

### Current Account, Total External Debt, and Debt-Service Payments (Percent of exports of goods and services)
- Projections (2013, 2017, 2021, 2022, 2023, 2024, 2025, 2029 where available):
  - Current Account Balance: 1.9, –0.4, 3.4, 5.1, 2.3, 1.0, 0.7, –0.8
  - Total External Debt: 94.4, 116.4, 112.6, 95.2, 103.1, 103.4, 104.1, 105.9
  - Debt-Service Payments (Interest payments and amortization on total debt): 34.4, 36.6, 37.1, 34.3, 36.2, 35.4, 35.9, 37.0
  - Interest Payments: 3.1, 3.8, 3.6, 3.6, 4.5, 4.4, 4.3, 4.1
  - Amortization: 31.1, 32.7, 33.5, 30.7, 31.7, 31.0, 31.5, 32.8

Regional breakdowns (selected entries):
- Emerging and Developing Asia:
  - Current Account Balance: 2.6, 4.0, 5.1, 4.8, 4.1, 2.9, 3.0, 1.3
  - Total External Debt: 74.8, 82.5, 84.3, 72.8, 79.4, 80.9, 83.3, 90.7
  - Debt-Service Payments: 37.0, 37.5, 40.0, 40.4, 40.3, 39.7, 40.5, 44.1
  - Interest Payments: 2.8, 3.2, 3.5, 3.6, 4.1, 4.1, 4.1, 4.3
  - Amortization: 34.3, 34.2, 36.6, 36.8, 36.1, 35.5, 36.4, 39.8
- Emerging and Developing Europe:
  - Current Account Balance: –4.0, –1.9, 3.8, 6.5, –1.3, –0.9, –1.2, –0.9
  - Total External Debt: 147.1, 144.2, 110.7, 95.5, 104.7, 100.8, 99.7, 94.0
  - Debt-Service Payments: 54.0, 45.1, 39.2, 33.2, 38.0, 38.2, 37.8, 36.2
  - Interest Payments: 4.3, 3.0, 2.3, 2.1, 2.8, 2.6, 2.4, 2.1
  - Amortization: 49.8, 42.1, 36.9, 31.1, 35.3, 35.6, 35.3, 34.1
- Latin America and the Caribbean:
  - Current Account Balance: –14.2, –8.3, –7.2, –8.3, –4.6, –4.2, –4.7, –5.4
  - Total External Debt: 147.6, 191.3, 183.1, 155.3, 157.9, 158.0, 156.6, 151.2
  - Debt-Service Payments: 41.4, 48.4, 43.0, 36.6, 38.7, 38.0, 38.6, 36.6
  - Interest Payments: 5.2, 7.3, 5.9, 5.5, 7.1, 6.9, 6.8, 5.8
  - Amortization: 34.0, 40.2, 36.9, 30.9, 31.5, 31.0, 31.6, 30.6
- Middle East and Central Asia:
  - Current Account Balance: 19.4, –3.1, 8.5, 18.4, 9.2, 4.1, 3.1, –1.4
  - Total External Debt: 59.3, 112.8, 137.4, 98.3, 109.4, 112.4, 112.2, 113.2
  - Debt-Service Payments: 11.8, 18.4, 20.4, 18.3, 20.5, 19.8, 19.5, 18.4
  - Interest Payments: 1.5, 3.5, 2.9, 3.2, 5.1, 4.9, 4.6, 4.0
  - Amortization: 10.2, 14.8, 17.5, 15.1, 15.4, 14.9, 15.0, 14.4
- Sub-Saharan Africa:
  - Current Account Balance: –8.0, –8.8, –4.2, –7.8, –11.1, –10.2, –9.8, –8.7
  - Total External Debt: 81.7, 167.5, 172.5, 153.3, 168.2, 163.8, 162.7, 158.7
  - Debt-Service Payments: 14.9, 23.3, 27.1, 20.8, 33.2, 23.0, 24.1, 21.7
  - Interest Payments: 1.9, 3.9, 4.8, 3.8, 4.6, 4.9, 4.9, 4.7
  - Amortization: 13.0, 19.4, 22.4, 17.0, 28.6, 18.1, 19.2, 17.0

Analytical group (Net Debtor Economies by Debt-Servicing Experience — Economies with Arrears and/or Rescheduling during 2018–22):
- Current Account Balance: –17.8, –18.1, –9.1, –7.6, –10.5, –15.2, –12.8, –8.9
- Total External Debt: 130.1, 208.9, 210.9, 192.3, 208.6, 204.7, 199.2, 173.4
- Debt-Service Payments: 40.5, 57.1, 48.0, 43.6, 47.1, 43.8, 42.6, 29.4
- Interest Payments: 2.5, 6.1, 6.4, 5.6, 7.6, 8.8, 7.7, 5.7
- Amortization: 38.0, 50.9, 41.6, 38.0, 39.5, 35.1, 34.9, 23.8

Notes:
- Data refer to trade in goods and services.
- Interest payments and amortization on total debt. The projections incorporate the impact of exceptional-financing items. Excludes service payments to the IMF.

*Source: tableb - Section 5 (tableb.pdf).*

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_Source: https://www.imf.org/-/media/files/publications/weo/2024/april/english/tableb.pdf_