## tableb

## Source details

**Canonical URL:** [tableb](https://www.imf.org/-/media/files/publications/weo/2024/october/english/tableb.pdf)

## Other formats

- [Markdown version](/-/media/files/publications/weo/2024/october/english/tableb.pdf.md)
- [Structured JSON version](/-/media/files/publications/weo/2024/october/english/tableb.pdf.json)

---

### Advanced Economies — Unemployment, Employment, Earnings, Productivity, and Fiscal Balances
- Unemployment rate (Averages and Projections):
  - Advanced Economies averages: 7.2 (2006–15), 5.2 (2016–25); annual: 2016: 6.3; 2017: 5.7; 2018: 5.1; 2019: 4.8; 2020: 6.6; 2021: 5.6; 2022: 4.5; 2023: 4.4; 2024: 4.6; 2025: 4.7.
  - United States: 7.0 (2006–15), 4.6 (2016–25); annual: 2016: 4.9; 2017: 4.4; 2018: 3.9; 2019: 3.7; 2020: 8.1; 2021: 5.4; 2022: 3.6; 2023: 3.6; 2024: 4.1; 2025: 4.4.
  - Euro Area (aggregate): 10.0 (2006–15), 7.7 (2016–25); annual: 2016: 10.1; 2017: 9.1; 2018: 8.2; 2019: 7.6; 2020: 8.0; 2021: 7.8; 2022: 6.8; 2023: 6.6; 2024: 6.5; 2025: 6.4.
  - Japan: 4.2 (2006–15), 2.6 (2016–25); annual: 2016: 3.1; 2017: 2.8; 2018: 2.4; 2019: 2.4; 2020: 2.8; 2021: 2.8; 2022: 2.6; 2023: 2.6; 2024: 2.5; 2025: 2.5.
  - Major Advanced Economies memorandum: 6.7 (2006–15), 4.8 (2016–25); annual: 2016: 5.4; 2017: 5.0; 2018: 4.5; 2019: 4.3; 2020: 6.5; 2021: 5.2; 2022: 4.1; 2023: 4.1; 2024: 4.3; 2025: 4.4.
- Employment growth (compound annual rates and annual values):
  - Advanced Economies average: 0.5 (2006–15), 1.0 (2016–25); annual: 2016: 1.5; 2017: 1.3; 2018: 1.5; 2019: 1.2; 2020: –2.7; 2021: 1.8; 2022: 2.7; 2023: 1.5; 2024: 0.6; 2025: 0.5.
  - United States: 0.5 (2006–15), 0.9 (2016–25); annual: 2016: 1.7; 2017: 1.3; 2018: 1.6; 2019: 1.1; 2020: –6.2; 2021: 3.2; 2022: 3.7; 2023: 1.7; 2024: 0.2; 2025: 0.5.
  - Euro Area: 0.3 (2006–15), 1.1 (2016–25); annual: 2016: 1.4; 2017: 1.6; 2018: 1.6; 2019: 1.3; 2020: –1.4; 2021: 1.4; 2022: 2.2; 2023: 1.4; 2024: 0.7; 2025: 0.4.
  - Major Advanced Economies memorandum: 0.5 (2006–15), 0.8 (2016–25); annual: 2016: 1.5; 2017: 1.2; 2018: 1.4; 2019: 1.4; 2020: –3.4; 2021: 1.9; 2022: 2.6; 2023: 1.3; 2024: 0.3; 2025: 0.4.
- Hourly earnings, productivity, and unit labor costs (annual percent change):
  - Hourly earnings — Advanced Economies: 2.3 (2006–15), 3.0 (2016–25); annual: 2016: 1.6; 2017: 2.5; 2018: 2.5; 2019: 2.2; 2020: 3.8; 2021: 1.6; 2022: 3.7; 2023: 4.9; 2024: 4.2; 2025: 3.4.
  - Hourly earnings — United States: 2.3 (2006–15), 3.4 (2016–25); annual: 2016: 0.7; 2017: 3.2; 2018: 2.4; 2019: 2.5; 2020: 6.7; 2021: 2.1; 2022: 3.5; 2023: 5.1; 2024: 4.5; 2025: 3.4.
  - Productivity — Advanced Economies: 1.1 (2006–15), 0.6 (2016–25); annual: 2016: 0.9; 2017: 1.4; 2018: 0.4; 2019: –1.0; 2020: –0.3; 2021: 2.9; 2022: –0.3; 2023: 0.2; 2024: 0.8; 2025: 1.1.
  - Productivity — United States: 1.1 (2006–15), –0.0 (2016–25); annual: 2016: –0.1; 2017: –0.3; 2018: –1.0; 2019: 0.2; 2020: –2.2; 2021: 0.4; 2022: 1.6; 2023: –1.4; 2024: –0.4; 2025: 0.8; 2025: 1.0 (as listed).
  - Unit labor costs — Advanced Economies: 1.2 (2006–15), 2.4 (2016–25); annual: 2016: 0.7; 2017: 1.1; 2018: 2.2; 2019: 3.2; 2020: 4.3; 2021: –1.2; 2022: 4.0; 2023: 4.8; 2024: 3.3; 2025: 2.3.
  - Unit labor costs — Major Advanced Economies memorandum: 1.2 (2006–15), 2.7 (2016–25); annual: 2016: 0.5; 2017: 1.7; 2018: 2.0; 2019: 3.5; 2020: 5.1; 2021: –0.6; 2022: 4.3; 2023: 4.9; 2024: 3.4; 2025: 2.2.
- Fiscal positions — Central and General Government net lending/borrowing (Percent of GDP):
  - Advanced Economies — Central Government Net Lending/Borrowing (aggregate): 2016: –2.5; 2017: –2.4; 2018: –2.4; 2019: –2.9; 2020: –9.8; 2021: –7.8; 2022: –3.7; 2023: –4.9; 2024: –5.0; 2025: –4.5.
  - United States — Central Government: 2016: –3.9; 2017: –4.3; 2018: –4.8; 2019: –5.4; 2020: –14.1; 2021: –12.5; 2022: –5.0; 2023: –7.4; 2024: –7.5; 2025: –7.0.
  - Advanced Economies — General Government Net Lending/Borrowing (aggregate): 2016: –2.6; 2017: –2.5; 2018: –2.4; 2019: –3.0; 2020: –10.2; 2021: –7.1; 2022: –3.0; 2023: –4.7; 2024: –5.0; 2025: –4.5.
  - United States — General Government: 2016: –4.4; 2017: –4.8; 2018: –5.3; 2019: –5.8; 2020: –13.9; 2021: –11.0; 2022: –3.9; 2023: –7.1; 2024: –7.6; 2025: –7.3.
  - General Government Structural Balance (Percent of potential GDP) — Advanced Economies: 2016: –2.5; 2017: –2.5; 2018: –2.6; 2019: –3.3; 2020: –7.1; 2021: –6.4; 2022: –4.5; 2023: –5.1; 2024: –5.1; 2025: –4.8.
- Long-term interest rates (period averages) — Advanced Economies aggregate: 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: 3.4; 2025: 3.2.
  - 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: 4.1; 2025: 3.5.
  - Japan: 2016: –0.1; 2017: 0.1; 2018: 0.1; 2019: –0.1; 2020: 0.0; 2021: 0.1; 2022: 0.2; 2023: 0.6; 2024: 0.9; 2025: 1.2.

### Advanced Economies — Country-level General and Central Government Net Lending/Borrowing (selected)
- General Government Net Lending/Borrowing — Advanced Economies aggregate: 2016: –2.6; 2017: –2.5; 2018: –2.4; 2019: –3.0; 2020: –10.2; 2021: –7.1; 2022: –3.0; 2023: –4.7; 2024: –5.0; 2025: –4.5.
- Selected countries — General Government Net Lending/Borrowing (2016–2025):
  - Germany: 1.1; 1.3; 1.9; 1.3; –4.4; –3.2; –2.1; –2.6; –2.0; –1.7.
  - France: –3.8; –3.4; –2.3; –2.4; –8.9; –6.6; –4.7; –5.5; –6.0; –5.9.
  - Italy: –2.4; –2.5; –2.2; –1.5; –9.4; –8.9; –8.1; –7.2; –4.0; –3.8.
  - United Kingdom: –3.3; –2.5; –2.3; –2.5; –13.1; –7.9; –4.7; –6.0; –4.3; –3.7.
- Net Lending/Borrowing Excluding Social Security Schemes — selected:
  - United States: 2016: –2.2; 2017: –2.7; 2018: –3.2; 2019: –3.5; 2020: –9.0; 2021: –7.5; 2022: –1.9; 2023: –4.9; 2024: –5.4; 2025: –4.9.
  - Italy (excluding total social contributions/payments): 2016: 6.9; 2017: 6.7; 2018: 6.8; 2019: 7.7; 2020: 3.5; 2021: 1.9; 2022: 1.8; 2023: 2.6; 2024: 4.6; 2025: 5.7.
- Notes:
  - Structural balance definition and country-specific methodology and coverage notes are provided in the source.

---

### Emerging Market and Developing Economies (EMDE) — Real GDP, Output per Capita, and Inflation
- Real GDP — EMDE aggregate (annual percent change and projections):
  - Average (2006–15): 5.6; 2016: 4.4; 2017: 4.8; 2018: 4.7; 2019: 3.7; 2020: –1.8; 2021: 7.0; 2022: 4.0; 2023: 4.0; 2024: 4.2; 2025: 4.2; 2029: 3.9.
- Regional real GDP highlights (selected series):
  - Emerging and Developing Asia: 7.9 (2006–15); 2016: 6.8; 2017: 6.6; 2018: 6.4; 2019: 5.3; 2020: –0.5; 2021: 7.7; 2022: 4.4; 2023: 5.7; 2024: 5.3; 2025: 5.0; 2029: 4.5.
  - Latin America and the Caribbean: 3.0 (2006–15); 2016: –0.8; 2017: 1.4; 2018: 1.1; 2019: 0.2; 2020: –6.9; 2021: 7.4; 2022: 4.2; 2023: 2.2; 2024: 2.2; 2025: 2.1; 2029: 2.6.
  - Sub-Saharan Africa: 5.2 (2006–15); 2016: 1.5; 2017: 3.0; 2018: 3.3; 2019: 3.2; 2020: –1.6; 2021: 4.8; 2022: 4.1; 2023: 3.6; 2024: 3.6; 2025: 4.2; 2029: 4.4.
- Output per capita (memorandum):
  - EMDE: 4.0 (2006–15); 2016: 2.8; 2017: 3.3; 2018: 3.4; 2019: 2.4; 2020: –3.1; 2021: 5.9; 2022: 2.9; 2023: 3.3; 2024: 3.7; 2025: 3.1; 2029: 2.9.
- Consumer prices — EMDE aggregate (annual percent change):
  - Aggregate: 6.0 (2006–15); 2016: 4.3; 2017: 4.4; 2018: 4.9; 2019: 5.1; 2020: 5.2; 2021: 5.8; 2022: 9.6; 2023: 8.1; 2024: 7.9; 2025: 5.9; 2029: 4.0.
- Regional inflation examples:
  - Emerging and Developing Asia: 4.7 (2006–15); 2016: 2.8; 2017: 2.4; 2018: 2.7; 2019: 3.3; 2020: 3.2; 2021: 2.3; 2022: 3.9; 2023: 2.4; 2024: 2.1; 2025: 2.7; 2029: 2.8.
  - Latin America and the Caribbean: 4.8 (2006–15); 2016: 5.4; 2017: 6.3; 2018: 6.7; 2019: 7.6; 2020: 6.5; 2021: 9.9; 2022: 14.2; 2023: 14.8; 2024: 16.8; 2025: 8.5; 2029: 3.6.
  - Sub-Saharan Africa: 8.1 (2006–15); 2016: 10.0; 2017: 10.6; 2018: 8.4; 2019: 8.7; 2020: 11.2; 2021: 11.6; 2022: 15.2; 2023: 17.6; 2024: 18.1; 2025: 12.3; 2029: 7.6.
- Analytical groups — Fuel vs Nonfuel exporters:
  - Fuel exporters (Real GDP): 4.3 (2006–15); 2016: 2.2; 2017: 0.8; 2018: 0.8; 2019: 0.2; 2020: –3.8; 2021: 4.2; 2022: 5.3; 2023: 2.2; 2024: 2.7; 2025: 3.8; 2029: 3.1.
  - Nonfuel exporters (Real GDP): 5.8 (2006–15); 2016: 4.7; 2017: 5.3; 2018: 5.1; 2019: 4.1; 2020: –1.5; 2021: 7.3; 2022: 3.8; 2023: 4.4; 2024: 4.4; 2025: 4.2; 2029: 4.0.

---

### Trade, Current Account, and External Balances — World and EMDEs
- Advanced Economies — Export and Import Volumes (Annual percent change):
  - Export Volume — Advanced Economies: 2006–15 average: 3.7; 2016–25 average: 2.3; 2016: 2.0; 2017: 5.0; 2018: 3.4; 2019: 1.4; 2020: –8.9; 2021: 9.7; 2022: 5.7; 2023: 1.0; 2024: 2.5; 2025: 2.7.
  - Import Volume — Advanced Economies: 2006–15 average: 3.0; 2016–25 average: 2.5; 2016: 2.5; 2017: 2.5; 2018: 4.9; 2019: 3.8; 2020: 2.0; 2021: –8.4; 2022: 10.1; 2023: 7.2; 2024: –0.7; 2025: 2.1.
- Emerging Market and Developing Economies — Total Trade in Goods (Annual percent change, value and volume):
  - EMDE Exports (Value in US$): 2006–15 average: 7.0; 2016–25 average: 5.2; 2016: –5.2; 2017: 14.0; 2018: 11.5; 2019: –2.6; 2020: –6.6; 2021: 31.6; 2022: 13.4; 2023: –6.6; 2024: 4.4; 2025: 3.9.
  - EMDE Exports (Volume): 2006–15 average: 5.0; 2016–25 average: 3.2; 2016: 2.6; 2017: 6.6; 2018: 3.8; 2019: –0.5; 2020: –1.4; 2021: 12.2; 2022: 0.9; 2023: –0.1; 2024: 4.4; 2025: 4.4.
- EMDE unit values and terms of trade:
  - EMDE Exports unit value (US$): 2006–15 average: 2.3; 2016–25 average: 2.0; 2016: –7.5; 2017: 6.9; 2018: 7.2; 2019: –2.1; 2020: –4.9; 2021: 17.8; 2022: 12.1; 2023: –6.3; 2024: 0.2; 2025: –0.4.
  - EMDE Terms of Trade: 2006–15 average: 0.4; 2016–25 average: –0.2; 2016: –1.6; 2017: 1.4; 2018: 1.1; 2019: –0.3; 2020: –2.7; 2021: 0.8; 2022: 2.4; 2023: –1.9; 2024: –1.3; 2025: –0.3.
- Summary of Current Account Transactions — World aggregates (Billions of US$):
  - Advanced Economies Current Account Balance: 2006–15 average: –88.4; 2010–17 average: 190.2; 2018: 383.5; 2019: 387.3; 2020: 135.7; 2021: 456.8; 2022: –236.7; 2023: 139.0; 2024: 226.5; 2025: 251.5; 2026–29 average: 404.6.
  - EMDE Current Account Balance: 2006–15 average: 343.8; 2016: 138.2; 2018: –52.4; 2019: 0.1; 2020: 146.6; 2021: 385.4; 2022: 706.3; 2023: 278.8; 2024: 173.4; 2025: 126.9; 2026–29 average: –4.7.
  - Advanced Economies — Exports of Goods (Billions): 2006–15 average: 9,658.6; 2016: 10,303.9; 2018: 11,376.8; 2021: 12,582.7; 2022: 13,785.0; 2023: 13,319.3; 2024: 13,678.2; 2025: 14,163.6; 2026–29 average: 15,548.0.
  - EMDE — Exports of Goods (Billions): 2006–15 average: 6,129.9; 2016: 6,907.9; 2018: 7,729.6; 2019: 7,529.2; 2020: 7,031.2; 2021: 9,254.8; 2022: 10,494.0; 2023: 9,798.7; 2024: 10,236.1; 2025: 10,635.7; 2026–29 average: 11,914.8.

---

### Regional Current Account Transactions and Analytical Groups (Billions of US$)
- Emerging and Developing Asia (selected lines):
  - Current Account Balance: 244.8 (2006–15 average); 2019: 93.7; 2020: 320.5; 2021: 288.6; 2022: 336.5; 2023: 247.3; 2024: 221.8; 2025: 260.1; 2026–29: 177.9.
  - Exports of Goods: 2,600.7 (2006–15 average); 2021: 4,904.5; 2022: 5,239.5; 2023: 4,939.5; 2024: 5,217.8; 2025: 5,457.6; 2026–29: 6,144.3.
- Emerging and Developing Europe (selected lines):
  - Current Account Balance: –22.9 (2006–15 average); 2019: 53.5; 2021: 70.5; 2022: 130.6; 2023: –24.1; 2024: –15.8; 2025: –42.4; 2026–29: –44.7.
  - Exports of Goods: 983.3 (2006–15 average); 2021: 1,419.9; 2022: 1,584.0; 2023: 1,441.4; 2024: 1,520.1; 2025: 1,582.5; 2026–29: 1,775.0.
- Middle East and Central Asia (selected lines):
  - Current Account Balance: 240.6 (2006–15 average); 2019: 15.5; 2020: –122.8; 2021: 136.0; 2022: 409.1; 2023: 176.7; 2024: 87.1; 2025: 42.3; 2026–29: 9.8.
  - Exports of Goods: 1,274.4 (2006–15 average); 2021: 1,310.7; 2022: 1,775.5; 2023: 1,586.7; 2024: 1,603.5; 2025: 1,639.0; 2026–29: 1,819.9.
- Latin America and the Caribbean (selected lines):
  - Current Account Balance: –96.9 (2006–15 average); 2019: –107.9; 2020: –9.3; 2021: –91.9; 2022: –126.0; 2023: –69.5; 2024: –60.6; 2025: –77.6; 2026–29: –90.6.
  - Exports of Goods: 928.1 (2006–15 average); 2021: 1,229.9; 2022: 1,443.6; 2023: 1,421.4; 2024: 1,459.7; 2025: 1,495.9; 2026–29: 1,659.2.
- Sub-Saharan Africa (selected lines):
  - Current Account Balance: –21.8 (2006–15 average); 2019: –54.7; 2021: –17.8; 2022: –43.9; 2023: –51.6; 2024: –58.9; 2025: –55.5; 2026–29: –57.1.
  - Exports of Goods: 343.3 (2006–15 average); 2021: 389.8; 2022: 451.4; 2023: 409.7; 2024: 434.9; 2025: 460.7; 2026–29: 516.5.
- Analytical groups — By source of export earnings (Fuel and Nonfuel) — selected:
  - Fuel exporters — Current Account Balance: 310.9 (2006–15 average); 2016: 221.6; 2021: 194.8; 2022: 509.7; 2023: 236.9; 2024: 170.0; 2025: 114.2.
  - Nonfuel exporters — Current Account Balance: 34.6 (2006–15 average); 2016: –81.3; 2021: 192.4; 2022: 198.7; 2023: 44.8; 2024: 7.0; 2025: 15.9.

---

### External Debt, Debt-Service, Ratios, and Maturities — Emerging Market and Developing Economies
- External Debt (total, Billions of US$):
  - EMDE total external debt: 8,668.6 (2016); 9,639.3 (2017); 10,081.4 (2018); 10,591.5 (2019); 11,318.6 (2020); 12,078.5 (2021); 11,787.6 (2022); 12,107.9 (2023); 12,714.6 (2024); 13,389.5 (2025).
- Regional totals (2025 projection):
  - Emerging and Developing Asia: 5,183.2.
  - Emerging and Developing Europe: 2,138.7.
  - Latin America and the Caribbean: 2,849.1.
  - Middle East and Central Asia: 2,356.5.
  - Sub-Saharan Africa: 862.0.
- By external financing source — selected:
  - Net Debtor Economies total debt: 5,074.5 (2016) → 7,490.7 (2025 projection).
  - Economies with Arrears and/or Rescheduling during 2019–23 total debt: 672.4 (2016) → 1,025.9 (2025 projection).
- Debt-service payments (total, Billions of US$):
  - EMDE debt-service: 2,987.6 (2016); 2,982.5 (2017); 3,479.3 (2018); 3,716.2 (2019); 3,718.5 (2020); 3,905.2 (2021); 4,187.3 (2022); 4,218.0 (2023); 4,340.5 (2024); 4,600.6 (2025).
- Regional debt-service payments (2025 projection):
  - Emerging and Developing Asia: 2,566.9.
  - Emerging and Developing Europe: 811.3.
  - Latin America and the Caribbean: 685.2.
  - Middle East and Central Asia: 411.7.
  - Sub-Saharan Africa: 125.5.
- External debt ratios and maturities:
  - External debt (percent of exports of goods and services) — EMDE: 118.4 (2016); 116.4 (2017); 109.4 (2018); 116.7 (2019); 137.9 (2020); 112.9 (2021); 95.4 (2022); 102.5 (2023); 102.7 (2024); 103.8 (2025).
  - Debt-service payments (percent of exports) — EMDE: 41.3 (2016); 36.5 (2017); 38.3 (2018); 41.5 (2019); 45.7 (2020); 36.9 (2021); 34.3 (2022); 36.1 (2023); 35.5 (2024); 36.0 (2025).
  - External Debt by maturity (Billions of US$) — EMDE total debt: 8,668.6 (2016) → 13,389.5 (2025); Short Term: 2,134.2 (2016) → 3,614.1 (2025); Long Term: 6,534.5 (2016) → 9,775.3 (2025).
  - Regional example (Emerging and Developing Asia, 2025): Total Debt: 5,183.2; Short Term: 2,097.5; Long Term: 3,085.7.
- Ratio of External Debt to GDP (percent) — EMDE:
  - 30.0 (2016); 29.8 (2017); 30.6 (2018); 30.7 (2019); 33.3 (2020); 31.4 (2021); 29.1 (2022); 29.6 (2023); 29.0 (2024); 28.3 (2025).
  - Selected 2025 regional ratios: Emerging and Developing Asia: 18.3; Emerging and Developing Europe: 38.4; Latin America and the Caribbean: 41.9; Middle East and Central Asia: 47.0; Sub-Saharan Africa: 46.6.
  - Analytical-group 2025 ratios: Fuel: 46.2; Nonfuel: 26.5; Net Debtor Economies: 38.4; Economies with Arrears and/or Rescheduling during 2019–23: 61.3.

---

### Emerging Market and Developing Economies — Debt-Service Ratios and Selected Indicators
- Interest payments (percent of exports of goods and services) — EMDE:
  - Annual series: 2016: 4.0; 2017: 3.8; 2018: 4.1; 2019: 4.4; 2020: 4.6; 2021: 3.5; 2022: 3.5; 2023: 4.5; 2024: 4.3; 2025: 4.2.
  - Regional examples — 2025: Emerging and Developing Asia: 3.9; Emerging and Developing Europe: 2.4; Latin America and the Caribbean: 6.9; Middle East and Central Asia: 4.7; Sub-Saharan Africa: 5.0.
  - Economies with Arrears and/or Rescheduling during 2019–23 — 2025: 7.6.
- Amortization (percent of exports of goods and services) — EMDE:
  - Annual series: 2016: 37.2; 2017: 32.6; 2018: 34.1; 2019: 37.0; 2020: 41.1; 2021: 33.3; 2022: 30.8; 2023: 31.7; 2024: 31.1; 2025: 31.8.
  - Regional examples — 2025: Emerging and Developing Asia: 35.1; Emerging and Developing Europe: 37.3; Latin America and the Caribbean: 32.1; Middle East and Central Asia: 15.9; Sub-Saharan Africa: 18.6.
  - Economies with Arrears and/or Rescheduling during 2019–23 — 2025: 35.6.
- Selected economic indicators (Table B21 summaries):
  - Real GDP — EMDE: 2006–15: 5.6; 2016–25: 3.9; 2022: 4.0; 2023: 4.4; 2024: 4.2; 2025: 4.2; 2022–25: 4.2; 2026–29: 4.0.
  - Export Volume (trade in goods and services) — EMDE: 2006–15: 5.2; 2016–25: 3.4; 2022: 4.6; 2023: 0.6; 2024: 4.6; 2025: 4.6.
  - Terms of Trade — EMDE: 2006–15: 0.4; 2016–25: 0.0; 2022: 1.5; 2023: –0.8; 2024: –0.7; 2025: 0.0.
  - Import Volume — EMDE: 2006–15: 6.7; 2016–25: 3.1; 2022: 4.2; 2023: 3.0; 2024: 4.6; 2025: 4.9.
  - Current account balance (percent of exports) — projections: 2013: 2.0; 2017: –0.3; 2021: 3.5; 2022: 5.6; 2023: 2.3; 2024: 1.4; 2025: 0.9; 2029: –0.7.
  - Total external debt (percent of exports) — projections: 2013: 94.4; 2017: 116.4; 2021: 112.9; 2022: 95.4; 2023: 102.5; 2024: 102.7; 2025: 103.8; 2029: 105.4.
  - Debt-service payments (percent of exports) — projections: 2013: 34.5; 2017: 36.5; 2021: 36.9; 2022: 34.3; 2023: 36.1; 2024: 35.5; 2025: 36.0; 2029: 37.0.
  - Interest payments (percent of exports) — projections: 2013: 3.1; 2017: 3.8; 2021: 3.5; 2022: 3.5; 2023: 4.5; 2024: 4.3; 2025: 4.2; 2029: 4.0.
  - Amortization (percent of exports) — projections: 2013: 31.2; 2017: 32.6; 2021: 33.3; 2022: 30.8; 2023: 31.7; 2024: 31.1; 2025: 31.8; 2029: 32.9.
- Regional current account and debt-service snapshots (percent of exports) — selected:
  - Emerging and Developing Asia — Current Account Balance: 2022: 5.5; 2023: 5.6; 2024: 4.2; 2025: 3.6. Debt-Service Payments: 2022: 40.4; 2023: 40.4; 2024: 40.6; 2025: 39.1.
  - Emerging and Developing Europe — Current Account Balance: 2022: 4.0; 2023: 6.7; 2024: –1.3; 2025: –0.8. Debt-Service Payments: 2022: 39.2; 2023: 34.1; 2024: 39.1; 2025: 39.8.
  - Latin America and the Caribbean — Current Account Balance: 2022: –6.6; 2023: –7.6; 2024: –4.2; 2025: –3.5. Debt-Service Payments: 2022: 42.4; 2023: 36.3; 2024: 39.0; 2025: 38.3.
  - Middle East and Central Asia — Current Account Balance: 2022: 8.6; 2023: 18.7; 2024: 8.6; 2025: 4.1. Debt-Service Payments: 2022: 20.6; 2023: 18.3; 2024: 20.4; 2025: 20.4.
  - Sub-Saharan Africa — Current Account Balance: 2022: –4.0; 2023: –8.5; 2024: –10.7; 2025: –11.5. Debt-Service Payments: 2022: 23.9; 2023: 23.9; 2024: 19.4; 2025: 23.2.
- Net Debtor Economies with Arrears and/or Rescheduling during 2019–23 (selected percent of exports):
  - Current Account Balance: 2022: –9.1; 2023: –8.0; 2024: –10.5; 2025: –16.3.
  - Total External Debt: 2022: 197.4; 2023: 208.8; 2024: 201.1; 2025: 170.6.
  - Debt-Service Payments: 2022: 46.5; 2023: 42.2; 2024: 44.1; 2025: 40.7.
  - Interest Payments: 2022: 5.5; 2023: 4.6; 2024: 6.1; 2025: 7.0.
  - Amortization: 2022: 41.0; 2023: 41.0; 2024: 37.6; 2025: 38.0.

*Statistical Appendix — Table B (section content provided from tableb - Section 1 through Section 5, IMF World Economic Outlook: October 2024).*

### Section 1

### tableb - Section 1

### Advanced Economies — Unemployment, Employment Growth, and Real GDP per Capita (Table B1)
- Unemployment rate (Averages and Projections for Advanced Economies and selected countries):
  - Advanced Economies averages: 7.2 (2006–15), 5.2 (2016–25); annual values: 2016: 6.3, 2017: 5.7, 2018: 5.1, 2019: 4.8, 2020: 6.6, 2021: 5.6, 2022: 4.5, 2023: 4.4, 2024: 4.6, 2025: 4.7.
  - United States: 7.0 (2006–15), 4.6 (2016–25); 2016: 4.9, 2017: 4.4, 2018: 3.9, 2019: 3.7, 2020: 8.1, 2021: 5.4, 2022: 3.6, 2023: 3.6, 2024: 4.1, 2025: 4.4.
  - Euro Area (aggregate): 10.0 (2006–15), 7.7 (2016–25); 2016: 10.1, 2017: 9.1, 2018: 8.2, 2019: 7.6, 2020: 8.0, 2021: 7.8, 2022: 6.8, 2023: 6.6, 2024: 6.5, 2025: 6.4.
  - Japan: 4.2 (2006–15), 2.6 (2016–25); 2016: 3.1, 2017: 2.8, 2018: 2.4, 2019: 2.4, 2020: 2.8, 2021: 2.8, 2022: 2.6, 2023: 2.6, 2024: 2.5, 2025: 2.5.
  - Major Advanced Economies memorandum: 6.7 (2006–15), 4.8 (2016–25); annual values: 2016: 5.4, 2017: 5.0, 2018: 4.5, 2019: 4.3, 2020: 6.5, 2021: 5.2, 2022: 4.1, 2023: 4.1, 2024: 4.3, 2025: 4.4.
- Growth in employment (compound annual rates and annual values reported):
  - Advanced Economies average growth in employment: 0.5 (2006–15), 1.0 (2016–25); annual values include 2016: 1.5, 2017: 1.3, 2018: 1.5, 2019: 1.2, 2020: –2.7, 2021: 1.8, 2022: 2.7, 2023: 1.5, 2024: 0.6, 2025: 0.5.
  - United States: 0.5 (2006–15), 0.9 (2016–25); annual values include 2016: 1.7, 2017: 1.3, 2018: 1.6, 2019: 1.1, 2020: –6.2, 2021: 3.2, 2022: 3.7, 2023: 1.7, 2024: 0.2, 2025: 0.5.
  - Euro Area: 0.3 (2006–15), 1.1 (2016–25); annual values include 2016: 1.4, 2017: 1.6, 2018: 1.6, 2019: 1.3, 2020: –1.4, 2021: 1.4, 2022: 2.2, 2023: 1.4, 2024: 0.7, 2025: 0.4.
  - Major Advanced Economies memorandum: 0.5 (2006–15), 0.8 (2016–25); annual values include 2016: 1.5, 2017: 1.2, 2018: 1.4, 2019: 1.4, 2020: –3.4, 2021: 1.9, 2022: 2.6, 2023: 1.3, 2024: 0.3, 2025: 0.4.
- 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 is in international dollars at purchasing power parity.

### Emerging Market and Developing Economies — Real GDP and Output per Capita (Table B2)
- Emerging Market and Developing Economies — Real GDP (annual percent change, averages and projections):
  - Average (2006–15): 5.6; 2016: 4.4; 2017: 4.8; 2018: 4.7; 2019: 3.7; 2020: –1.8; 2021: 7.0; 2022: 4.0; 2023: 4.0; 2024: 4.2; 2025: 4.2; 2029: 3.9.
- Regional groups — selected series:
  - Emerging and Developing Asia: 7.9 (2006–15); 2016: 6.8; 2017: 6.6; 2018: 6.4; 2019: 5.3; 2020: –0.5; 2021: 7.7; 2022: 4.4; 2023: 5.7; 2024: 5.3; 2025: 5.0; 2029: 4.5.
  - Latin America and the Caribbean: 3.0 (2006–15); 2016: –0.8; 2017: 1.4; 2018: 1.1; 2019: 0.2; 2020: –6.9; 2021: 7.4; 2022: 4.2; 2023: 2.2; 2024: 2.2; 2025: 2.1; 2029: 2.6.
  - Sub-Saharan Africa: 5.2 (2006–15); 2016: 1.5; 2017: 3.0; 2018: 3.3; 2019: 3.2; 2020: –1.6; 2021: 4.8; 2022: 4.1; 2023: 3.6; 2024: 3.6; 2025: 4.2; 2029: 4.4.
- Analytical groups:
  - Fuel exporters: 4.3 (2006–15); 2016: 2.2; 2017: 0.8; 2018: 0.8; 2019: 0.2; 2020: –3.8; 2021: 4.2; 2022: 5.3; 2023: 2.2; 2024: 2.7; 2025: 3.8; 2029: 3.1.
  - Nonfuel exporters: 5.8 (2006–15); 2016: 4.7; 2017: 5.3; 2018: 5.1; 2019: 4.1; 2020: –1.5; 2021: 7.3; 2022: 3.8; 2023: 4.4; 2024: 4.4; 2025: 4.2; 2029: 4.0.
- Output per capita (memorandum):
  - Emerging Market and Developing Economies: 4.0 (2006–15); 2016: 2.8; 2017: 3.3; 2018: 3.4; 2019: 2.4; 2020: –3.1; 2021: 5.9; 2022: 2.9; 2023: 3.3; 2024: 3.7; 2025: 3.1; 2029: 2.9.
- Notes:
  - Output per capita is in international dollars at purchasing power parity.

### Emerging Market and Developing Economies — Consumer Prices (Table B4)
- Emerging Market and Developing Economies — Consumer prices (annual percent change):
  - Aggregate: 6.0 (2006–15); 2016: 4.3; 2017: 4.4; 2018: 4.9; 2019: 5.1; 2020: 5.2; 2021: 5.8; 2022: 9.6; 2023: 8.1; 2024: 7.9; 2025: 5.9; 2029: 4.0.
- Regional examples:
  - Emerging and Developing Asia: 4.7 (2006–15); 2016: 2.8; 2017: 2.4; 2018: 2.7; 2019: 3.3; 2020: 3.2; 2021: 2.3; 2022: 3.9; 2023: 2.4; 2024: 2.1; 2025: 2.7; 2029: 2.8.
  - Latin America and the Caribbean: 4.8 (2006–15); 2016: 5.4; 2017: 6.3; 2018: 6.7; 2019: 7.6; 2020: 6.5; 2021: 9.9; 2022: 14.2; 2023: 14.8; 2024: 16.8; 2025: 8.5; 2029: 3.6.
  - Sub-Saharan Africa: 8.1 (2006–15); 2016: 10.0; 2017: 10.6; 2018: 8.4; 2019: 8.7; 2020: 11.2; 2021: 11.6; 2022: 15.2; 2023: 17.6; 2024: 18.1; 2025: 12.3; 2029: 7.6.
- Analytical and other groups:
  - Net Debtor Economies: 6.9 (2006–15); 2016: 5.5; 2017: 5.9; 2018: 5.9; 2019: 5.7; 2020: 6.3; 2021: 7.6; 2022: 12.9; 2023: 11.8; 2024: 10.6; 2025: 7.6; 2029: 4.8.
  - Low-Income Developing Countries: 9.0 (2006–15); 2016: 8.9; 2017: 10.0; 2018: 9.7; 2019: 9.5; 2020: 13.4; 2021: 14.3; 2022: 16.0; 2023: 17.4; 2024: 18.1; 2025: 13.3; 2029: 7.2.
- Median series (memorandum):
  - Emerging Market and Developing Economies median: 4.9 (2006–15); 2016: 2.7; 2017: 3.3; 2018: 3.1; 2019: 2.6; 2020: 2.7; 2021: 3.9; 2022: 7.9; 2023: 5.9; 2024: 4.1; 2025: 3.8; 2029: 3.0.
- Notes:
  - Excludes Venezuela but includes Argentina from 2017 onward; country-specific notes referenced for Argentina and Venezuela.

### Advanced Economies — Hourly Earnings, Productivity, and Unit Labor Costs in Manufacturing (Table B3)
- Hourly earnings (annual percent change, selected aggregates and countries):
  - Advanced Economies: 2.3 (2006–15), 3.0 (2016–25); annual values include 2016: 1.6, 2017: 2.5, 2018: 2.5, 2019: 2.2, 2020: 3.8, 2021: 1.6, 2022: 3.7, 2023: 4.9, 2024: 4.2, 2025: 3.4.
  - United States: 2.3 (2006–15), 3.4 (2016–25); annual values include 2016: 0.7, 2017: 3.2, 2018: 2.4, 2019: 2.5, 2020: 6.7, 2021: 2.1, 2022: 3.5, 2023: 5.1, 2024: 4.5, 2025: 3.4.
- Productivity (annual percent change, labor productivity measures):
  - Advanced Economies: 1.1 (2006–15), 0.6 (2016–25); annual values include 2016: 0.9, 2017: 1.4, 2018: 0.4, 2019: –1.0, 2020: –0.3, 2021: 2.9, 2022: –0.3, 2023: 0.2, 2024: 0.8, 2025: 1.1.
  - United States: 1.1 (2006–15), –0.0 (2016–25); annual values include 2016: –0.1, 2017: –0.3, 2018: –1.0, 2019: 0.2, 2020: –2.2, 2021: 0.4, 2022: 1.6, 2023: –1.4, 2024: –0.4, 2025: 0.8, 2025: 1.0 (as listed).
- Unit labor costs (annual percent change):
  - Advanced Economies: 1.2 (2006–15), 2.4 (2016–25); annual values include 2016: 0.7, 2017: 1.1, 2018: 2.2, 2019: 3.2, 2020: 4.3, 2021: –1.2, 2022: 4.0, 2023: 4.8, 2024: 3.3, 2025: 2.3.
  - Major Advanced Economies memorandum: 1.2 (2006–15), 2.7 (2016–25); annual values include 2016: 0.5, 2017: 1.7, 2018: 2.0, 2019: 3.5, 2020: 5.1, 2021: –0.6, 2022: 4.3, 2023: 4.9, 2024: 3.4, 2025: 2.2.
- Notes:
  - Productivity refers to labor productivity, measured as the ratio of hourly compensation to unit labor costs.
  - Unit labor cost data refer to unit wage cost for the United Kingdom.

### Summary of Fiscal and Financial Indicators (Table B5)
- Advanced Economies — Central Government Net Lending/Borrowing (Percent of GDP; projections):
  - Advanced Economies aggregate: 2016: –2.5; 2017: –2.4; 2018: –2.4; 2019: –2.9; 2020: –9.8; 2021: –7.8; 2022: –3.7; 2023: –4.9; 2024: –5.0; 2025: –4.5.
  - United States: 2016: –3.9; 2017: –4.3; 2018: –4.8; 2019: –5.4; 2020: –14.1; 2021: –12.5; 2022: –5.0; 2023: –7.4; 2024: –7.5; 2025: –7.0.
  - Euro Area: 2016: –1.4; 2017: –1.5; 2018: –0.8; 2019: –0.9; 2020: –5.7; 2021: –4.8; 2022: –3.8; 2023: –3.5; 2024: –3.2; 2025: –3.0.
  - Japan: 2016: –4.4; 2017: –3.6; 2018: –3.1; 2019: –3.4; 2020: –8.4; 2021: –7.7; 2022: –5.8; 2023: –5.6; 2024: –7.5; 2025: –4.4.
- Advanced Economies — General Government Net Lending/Borrowing (Percent of GDP):
  - Advanced Economies aggregate: 2016: –2.6; 2017: –2.5; 2018: –2.4; 2019: –3.0; 2020: –10.2; 2021: –7.1; 2022: –3.0; 2023: –4.7; 2024: –5.0; 2025: –4.5.
  - United States: 2016: –4.4; 2017: –4.8; 2018: –5.3; 2019: –5.8; 2020: –13.9; 2021: –11.0; 2022: –3.9; 2023: –7.1; 2024: –7.6; 2025: –7.3.
- General Government Structural Balance (Percent of potential GDP):
  - Advanced Economies: 2016: –2.5; 2017: –2.5; 2018: –2.6; 2019: –3.3; 2020: –7.1; 2021: –6.4; 2022: –4.5; 2023: –5.1; 2024: –5.1; 2025: –4.8.
- Long-term interest rates (period averages):
  - Advanced Economies aggregate: 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: 3.4; 2025: 3.2.
  - 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: 4.1; 2025: 3.5.
  - Japan: 2016: –0.1; 2017: 0.1; 2018: 0.1; 2019: –0.1; 2020: 0.0; 2021: 0.1; 2022: 0.2; 2023: 0.6; 2024: 0.9; 2025: 1.2.
- Emerging Market and Developing Economies — Fiscal aggregates (weighted averages and medians):
  - Central Government Net Lending/Borrowing (Weighted Average): 2016: –2.2; 2017: –1.7; 2018: –1.2; 2019: –1.4; 2020: –3.9; 2021: –2.1; 2022: –1.6; 2023: –2.0; 2024: –2.1; 2025: –1.8.
  - General Government Net Lending/Borrowing (Weighted Average): 2016: –4.4; 2017: –3.8; 2018: –3.5; 2019: –4.4; 2020: –8.5; 2021: –5.0; 2022: –4.9; 2023: –5.3; 2024: –5.6; 2025: –5.5.
  - Growth of Broad Money (Weighted Average): 2016: 11.0; 2017: 10.7; 2018: 12.6; 2019: 11.5; 2020: 14.5; 2021: 11.8; 2022: 12.5; 2023: 13.9; 2024: 11.5; 2025: 10.0.
- Notes:
  - Fiscal data are percent of GDP. Country group composites for fiscal data are calculated as the sum of US dollar values for constituent countries.
  - Figures reported by national statistical agencies are adjusted as indicated for certain pension accounting items.

### Advanced Economies — General and Central Government Net Lending/Borrowing Details (Table B6)
- General Government Net Lending/Borrowing — country-level series (selected):
  - Advanced Economies aggregate: 2016: –2.6; 2017: –2.5; 2018: –2.4; 2019: –3.0; 2020: –10.2; 2021: –7.1; 2022: –3.0; 2023: –4.7; 2024: –5.0; 2025: –4.5.
  - Germany: 2016: 1.1; 2017: 1.3; 2018: 1.9; 2019: 1.3; 2020: –4.4; 2021: –3.2; 2022: –2.1; 2023: –2.6; 2024: –2.0; 2025: –1.7.
  - France: 2016: –3.8; 2017: –3.4; 2018: –2.3; 2019: –2.4; 2020: –8.9; 2021: –6.6; 2022: –4.7; 2023: –5.5; 2024: –6.0; 2025: –5.9.
  - Italy: 2016: –2.4; 2017: –2.5; 2018: –2.2; 2019: –1.5; 2020: –9.4; 2021: –8.9; 2022: –8.1; 2023: –7.2; 2024: –4.0; 2025: –3.8.
  - United Kingdom: 2016: –3.3; 2017: –2.5; 2018: –2.3; 2019: –2.5; 2020: –13.1; 2021: –7.9; 2022: –4.7; 2023: –6.0; 2024: –4.3; 2025: –3.7.
- Net Lending/Borrowing Excluding Social Security Schemes — selected country series:
  - United States: 2016: –2.2; 2017: –2.7; 2018: –3.2; 2019: –3.5; 2020: –9.0; 2021: –7.5; 2022: –1.9; 2023: –4.9; 2024: –5.4; 2025: –4.9.
  - Italy (excluding total social contributions/payments): 2016: 6.9; 2017: 6.7; 2018: 6.8; 2019: 7.7; 2020: 3.5; 2021: 1.9; 2022: 1.8; 2023: 2.6; 2024: 4.6; 2025: 5.7.
- Central Government Net Lending/Borrowing — selected country series (continued panel):
  - Advanced Economies aggregate: 2016: –2.5; 2017: –2.4; 2018: –2.4; 2019: –2.9; 2020: –9.8; 2021: –7.8; 2022: –3.7; 2023: –4.9; 2024: –5.0; 2025: –4.5.
  - United States (budget basis): 2016: –3.9; 2017: –4.3; 2018: –4.8; 2019: –5.4; 2020: –14.1; 2021: –12.5; 2022: –5.0; 2023: –7.4; 2024: –7.5; 2025: –7.0.
  - Japan (national income basis, excludes social security): 2016: –4.4; 2017: –3.6; 2018: –3.1; 2019: –3.4; 2020: –8.4; 2021: –7.7; 2022: –5.8; 2023: –5.6; 2024: –7.5; 2025: –4.4.
- Notes:
  - On a national income accounts basis except as indicated. Methodology and assumptions for each country are discussed in Box A1 (source document).
  - Data coverage notes: central government coverage, budget vs national income basis, exclusions of euro area/Japan/US in “Other Advanced Economies” grouping as specified.

*Statistical Appendix — Table B (section content provided from tableb - Section 1, IMF World Economic Outlook: October 2024).*

### Section 2

### tableb - Section 2

### Advanced Economies: General Government Structural Balances (Percent of potential GDP)
- Advanced Economies: –2.5, –2.5, –2.6, –3.3, –7.1, –6.4, –4.5, –5.1, –5.1, –4.8 (2016–2025)
- United States: –4.1, –4.7, –5.3, –6.1, –10.6, –10.5, –6.5, –7.6, –7.7, –7.5 (2016–2025)
- Euro Area: –0.5, –0.5, –0.2, –0.4, –3.9, –3.9, –3.4, –3.5, –2.9, –2.9 (2016–2025)
- Germany: 1.2, 1.1, 1.6, 1.1, –2.9, –2.6, –1.8, –2.4, –1.4, –1.1 (2016–2025)
- France: –2.0, –2.3, –1.6, –1.4, –5.9, –5.1, –4.1, –4.9, –5.5, –5.5 (2016–2025)
- Italy: –0.6, –1.2, –1.3, –0.5, –5.4, –8.3, –9.2, –8.0, –4.4, –4.5 (2016–2025)
- Spain: –2.5, –2.4, –2.2, –3.0, –4.4, –3.9, –4.4, –3.7, –3.4, –3.1 (2016–2025)
- The Netherlands: 0.1, 0.7, 0.6, 0.5, 2.1, 1.5, 0.3, 0.1, –1.1, –2.3 (2016–2025)
- Belgium: –2.3, –1.2, –1.8, –2.9, –6.4, –5.2, –4.1, –4.6, –4.6, –5.2 (2016–2025)
- Austria: –1.2, –0.9, –0.3, 0.2, –6.9, –4.6, –4.1, –2.5, –2.5, –2.5 (2016–2025)
- Ireland: –1.6, –1.1, –0.2, 0.3, –1.3, –0.1, 2.5, 2.0, 1.6, 0.9 (2016–2025)
- Portugal: –0.1, –0.3, –0.1, –0.1, –2.3, –1.8, –1.3, 0.5, –0.4, –0.3 (2016–2025)
- Greece: 6.7, 6.4, 4.9, 2.8, –2.5, –4.1, –1.9, –0.9, –1.3, –1.3 (2016–2025)
- Finland: –0.4, –0.9, –1.0, –1.3, –3.7, –2.6, –0.8, –1.4, –1.6, –1.7 (2016–2025)
- Slovak Republic: –3.0, –1.5, –1.6, –1.7, –2.2, –1.4, –0.7, –3.2, –5.4, –3.9 (2016–2025)
- Croatia: –0.8, 0.9, 2.3, 4.2, –5.4, –3.3, –1.1, –1.8, –3.5, –2.5 (2016–2025)
- Lithuania: 0.7, 0.7, 0.7, 0.6, –5.4, –1.5, –1.6, –0.5, –1.3, –1.3 (2016–2025)
- Slovenia: –1.1, –0.4, –0.8, –1.2, –6.2, –5.8, –4.2, –2.8, –2.3, –2.0 (2016–2025)
- Luxembourg: 1.8, 1.2, 2.0, 1.1, 2.2, 1.6, 0.7, 0.5, –0.5, –1.6 (2016–2025)
- Latvia: –1.0, –1.7, –2.5, –1.8, –3.2, –7.9, –5.7, –2.3, –2.6, –2.6 (2016–2025)
- Estonia: –0.5, –1.1, –1.3, –0.3, –5.3, –4.7, –1.9, –3.0, –2.1, –3.6 (2016–2025)
- Cyprus: 1.4, 1.5, 2.4, 1.0, –3.5, –1.8, 1.6, 2.0, 2.2, 2.2 (2016–2025)
- Malta: 2.4, 1.7, 0.8, 0.8, –0.5, –2.2, –1.7, –4.1, –4.6, –4.1 (2016–2025)
- Japan: –4.4, –3.7, –3.0, –3.3, –8.1, –5.4, –4.4, –4.3, –6.2, –3.1 (2016–2025)
- United Kingdom: –2.3, –2.1, –2.1, –2.4, 0.5, –3.3, –3.1, –4.7, –3.0, –3.4 (2016–2025)
- Canada: 0.0, –0.3, 0.0, –0.2, –8.2, –1.9, –0.4, –0.6, –1.0, –0.9 (2016–2025)
- Other Advanced Economies: –0.6, –0.1, 0.0, –1.3, –4.4, –2.6, –2.0, –1.8, –2.1, –1.7 (2016–2025)
- Korea: 1.7, 2.2, 2.5, 0.5, –1.4, 0.1, –1.6, –0.6, –0.5, –0.1 (2016–2025)
- Australia: –2.7, –2.0, –1.5, –4.6, –8.2, –6.2, –2.8, –1.7, –2.5, –2.8 (2016–2025)
- Sweden: 0.6, 1.1, 0.5, –0.2, –1.7, –0.5, 0.6, –0.5, –0.5, 0.0 (2016–2025)
- Norway: –7.2, –7.3, –6.5, –7.3, –11.3, –10.3, –9.2, –9.6, –10.4, –11.1 (2016–2025)
- Denmark: –0.2, 0.0, 0.8, 1.6, 1.6, –0.3, 1.7, 1.7, 1.2, 0.8 (2016–2025)
- New Zealand: 0.1, 0.3, 0.2, –2.8, –4.7, –4.5, –5.0, –4.7, –4.3, –3.6 (2016–2025)
- Memorandum — Major Advanced Economies: –3.0, –3.2, –3.3, –3.9, –8.1, –7.7, –5.3, –6.1, –6.0, –5.6 (2016–2025)

Notes included in source:
- Structural balance defined as actual net lending/borrowing minus cyclical output effects from potential output, corrected for one-time and other factors; margin of uncertainty and interpretational cautions apply.
- Specific footnotes on adjustments: 2 (US pension accrual accounting adjustments), 3 (excludes one-time receipts from sale of assets; Spain includes adjustments beyond output cycle), 4 (Other Advanced excludes G7 and euro area), 5 (Norway excludes oil and Government Pension Fund–Global income), 6 (Denmark excludes temporary fluctuations; COVID-related one-offs included).

### Emerging Market and Developing Economies: General Government Net Lending/Borrowing (Percent of GDP)
- Emerging Market and Developing Economies (aggregate): –4.4, –3.8, –3.5, –4.4, –8.5, –5.0, –4.9, –5.3, –5.6, –5.5 (2016–2025)

Regional groups (2016–2025):
- Emerging and Developing Asia: –3.7, –3.6, –4.2, –5.6, –9.4, –6.3, –7.1, –6.5, –6.8, –6.9
- Emerging and Developing Europe: –2.6, –1.6, 0.3, –0.7, –5.3, –1.6, –2.5, –4.4, –4.4, –3.4
- Latin America and the Caribbean: –5.3, –5.1, –5.0, –3.7, –8.1, –3.9, –3.6, –5.1, –4.8, –4.1
- Middle East and Central Asia: –7.4, –4.5, –1.5, –2.6, –7.7, –2.3, 2.3, –0.5, –2.1, –2.3
- Sub-Saharan Africa: –4.3, –4.4, –3.4, –4.0, –6.4, –4.9, –4.4, –4.1, –4.0, –3.6

Analytical groups (2016–2025):
- By Source of Export Earnings — Fuel: –7.6, –4.6, –1.4, –1.8, –7.5, –1.4, 3.6, 0.4, –0.7, –1.1
- By Source of Export Earnings — Nonfuel: –4.0, –3.7, –3.7, –4.7, –8.6, –5.4, –5.9, –5.9, –6.1, –5.9
- By External Financing Source — Net Debtor Economies: –4.8, –4.3, –4.0, –4.3, –8.1, –5.3, –4.8, –5.4, –5.6, –5.1

Other groups and memoranda (selected):
- Median Emerging Market and Developing Economies: –3.1, –2.6, –2.2, –2.2, –5.7, –4.3, –3.1, –3.0, –3.1, –3.0 (2016–2025)
- Emerging and Developing Asia (median): –2.6, –2.3, –1.5, –1.7, –5.1, –5.9, –3.6, –3.2, –3.9, –4.0 (2016–2025)
- Low-Income Developing Countries: –3.7, –3.9, –3.6, –4.0, –5.3, –4.6, –4.4, –3.9, –3.8, –3.3 (2016–2025)
- Heavily Indebted Poor Countries: –3.5, –3.3, –3.3, –3.3, –5.8, –4.7, –4.5, –3.6, –3.3, –2.8 (2016–2025)

### Selected country-level net lending/borrowing (Emerging Markets, Percent of GDP)
- Brazil (overall fiscal balance series): –6.6, –7.7, –5.4, –3.2, –11.5, –1.8, –3.2, –7.3, –6.9, –7.2 (2016–2025)
- Indonesia: –2.6, –2.3, –1.8, –2.1, –6.1, –4.4, –2.2, –1.6, –2.7, –2.5 (2016–2025)
- Thailand: 0.0, –0.7, –0.1, 0.1, –4.8, –7.1, –4.8, –2.3, –2.7, –4.2 (2016–2025)
- Vietnam: –3.6, –2.3, –1.3, –0.5, –3.0, –1.5, 0.7, –2.5, –2.6, –2.2 (2016–2025)
- Malaysia: –2.6, –2.4, –2.6, –2.0, –4.9, –6.0, –4.8, –4.6, –3.6, –3.5 (2016–2025)
- Philippines: –0.8, –0.7, –1.5, –1.6, –5.7, –6.3, –5.6, –4.5, –4.0, –4.0 (2016–2025)
- Colombia: –2.3, –2.5, –4.7, –3.5, –7.0, –7.1, –6.2, –2.7, –4.4, –3.8 (2016–2025)
- Chile: –2.7, –2.6, –1.5, –2.7, –7.1, –7.5, 1.4, –2.3, –2.3, –1.4 (2016–2025)
- Peru: –2.1, –2.8, –2.0, –1.4, –8.3, –2.5, –1.4, –2.8, –3.2, –2.0 (2016–2025)
- India (detailed in Table B9): –7.1, –6.2, –6.4, –7.7, –12.9, –9.3, –9.2, –8.3, –7.8, –7.6 (2016–2025)
- China (detailed in Table B9): –3.4, –3.4, –4.3, –6.1, –9.7, –6.0, –7.5, –6.9, –7.4, –7.6 (2016–2025)

Notes included in source:
- Net lending/borrowing series include policy lending; country group composites are calculated as the sum of US dollar values for relevant countries.
- Country-specific series and coverage notes are present in the Statistical Appendix (referenced in source).

*Source: tableb - Section 2 (PDF).*

### Section 3

### tableb - Section 3

### Emerging Market and Developing Economies: Broad Money Aggregates (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: 12.5; 2023: 13.9; 2024: 11.5; 2025 (projection): 10.0.
- Regional groups (selected series, annual percent change):
  - Emerging and Developing Asia: 2016: 11.0; 2017: 9.1; 2018: 8.4; 2019: 8.6; 2020: 10.6; 2021: 9.2; 2022: 10.7; 2023: 9.3; 2024: 8.3; 2025: 8.4.
  - China: 2016: 11.3; 2017: 9.0; 2018: 8.1; 2019: 8.7; 2020: 10.1; 2021: 9.0; 2022: 11.8; 2023: 9.7; 2024: 8.0; 2025: 8.0.
  - India: 2016: 10.1; 2017: 9.2; 2018: 10.5; 2019: 8.9; 2020: 12.2; 2021: 8.8; 2022: 9.0; 2023: 11.1; 2024: 10.5; 2025: 9.6.
  - Emerging and Developing Europe: 2016: 6.0; 2017: 9.6; 2018: 12.8; 2019: 11.5; 2020: 20.2; 2021: 18.7; 2022: 18.9; 2023: 23.7; 2024: 22.8; 2025: 13.8.
  - Latin America and the Caribbean: 2016: 15.0; 2017: 16.4; 2018: 29.5; 2019: 22.6; 2020: 25.4; 2021: 17.0; 2022: 14.0; 2023: 23.3; 2024: 13.2; 2025: 11.7.
- Analytical groups:
  - By source of export earnings:
    - Fuel exporters: 2016: 12.1; 2017: 16.2; 2018: 37.3; 2019: 29.5; 2020: 19.9; 2021: 16.6; 2022: 13.2; 2023: 20.8; 2024: 12.6; 2025: 11.8.
    - Nonfuel exporters: 2016: 10.8; 2017: 9.9; 2018: 9.8; 2019: 9.4; 2020: 13.9; 2021: 11.3; 2022: 12.5; 2023: 13.2; 2024: 11.4; 2025: 9.8.
    - Primary products: 2016: 17.0; 2017: 17.0; 2018: 22.8; 2019: 17.5; 2020: 31.9; 2021: 21.7; 2022: 25.9; 2023: 41.1; 2024: 29.9; 2025: 22.1.
  - By external financing source:
    - Net Debtor Economies: 2016: 12.4; 2017: 9.6; 2018: 10.1; 2019: 10.2; 2020: 16.1; 2021: 13.2; 2022: 12.0; 2023: 15.7; 2024: 12.3; 2025: 10.7.
- Other group highlights:
  - Low-Income Developing Countries: 2016: 19.6; 2017: 13.1; 2018: 16.0; 2019: 14.8; 2020: 19.5; 2021: 18.3; 2022: 16.1; 2023: 26.0; 2024: 17.8; 2025: 15.6.
- Memorandum medians (Emerging Market and Developing Economies median): 2016: 9.2; 2017: 8.8; 2018: 8.1; 2019: 8.8; 2020: 13.4; 2021: 11.3; 2022: 8.5; 2023: 8.8; 2024: 8.7; 2025: 8.7.

### 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: 2.3; 2016: 2.0; 2017: 5.0; 2018: 3.4; 2019: 1.4; 2020: –8.9; 2021: 9.7; 2022: 5.7; 2023: 1.0; 2024: 2.5; 2025 (projection): 2.7.
- Selected country export volumes (annual percent change):
  - United States: 2016: 1.5; 2017: 0.5; 2018: 4.1; 2019: 2.9; 2020: 0.5; 2021: –13.1; 2022: 6.5; 2023: 7.5; 2024: 2.8; 2025: 2.5.
  - Euro Area (average of countries): 2016: 2.6; 2017: 2.8; 2018: 5.6; 2019: 3.3; 2020: 2.8; 2021: –9.2; 2022: 11.2; 2023: 7.0; 2024: –0.2; 2025: 1.6; 2026: 2.3 (table spans multiple years).
- Import Volume (Advanced Economies): 2006–15 average: 3.0; 2016–25 average: 2.5; 2016: 2.5; 2017: 2.5; 2018: 4.9; 2019: 3.8; 2020: 2.0; 2021: –8.4; 2022: 10.1; 2023: 7.2; 2024: –0.7; 2025: 2.1; 2026: 2.4.
- Terms of Trade (Advanced Economies): 2006–15 average: 0.0; 2016–25 average: 0.2; 2016: 1.1; 2017: –0.3; 2018: –0.3; 2019: 0.2; 2020: 1.0; 2021: –1.7; 2022: 0.7; 2023: 0.1; 2024: 0.0.
- Memorandum Major Advanced Economies export volume: 2006–15 average: 3.2; 2016–25 average: 1.7; 2016: 1.5; 2017: 4.8; 2018: 3.0; 2019: 1.1; 2020: –12.3; 2021: 8.3; 2022: 6.8; 2023: 1.7; 2024: 1.3; 2025: 2.1.

### Emerging Market and Developing Economies by Region: Total Trade in Goods (Annual percent change; value, volume, unit value, terms of trade)
- EMDE overall (Value in US dollars, Exports): 2006–15 average: 7.0; 2016–25 average: 5.2; 2016: –5.2; 2017: 14.0; 2018: 11.5; 2019: –2.6; 2020: –6.6; 2021: 31.6; 2022: 13.4; 2023: –6.6; 2024: 4.4; 2025 (projection): 3.9.
- EMDE overall (Volume, Exports): 2006–15 average: 5.0; 2016–25 average: 3.2; 2016: 2.6; 2017: 6.6; 2018: 3.8; 2019: –0.5; 2020: –1.4; 2021: 12.2; 2022: 0.9; 2023: –0.1; 2024: 4.4; 2025: 4.4.
- Regional highlights (Value in US dollars, Exports):
  - Emerging and Developing Asia: 2016: –4.3; 2017: 12.2; 2018: 9.1; 2019: –1.2; 2020: 1.9; 2021: 28.5; 2022: 6.8; 2023: –5.7; 2024: 5.6; 2025: 4.6.
  - Emerging and Developing Europe: 2016: –5.9; 2017: 17.5; 2018: 15.5; 2019: –1.5; 2020: –9.3; 2021: 34.0; 2022: 11.5; 2023: –9.0; 2024: 5.4; 2025: 4.1.
  - Latin America and the Caribbean: 2016: –3.4; 2017: 12.3; 2018: 8.7; 2019: –2.4; 2020: –9.7; 2021: 28.2; 2022: 17.4; 2023: –1.5; 2024: 2.7; 2025: 2.5.
  - Middle East and Central Asia (Value, Exports): 2016: –8.0; 2017: 17.5; 2018: 16.7; 2019: –7.4; 2020: –25.1; 2021: 44.7; 2022: 35.5; 2023: –10.6; 2024: 1.0; 2025: 2.2.
  - Sub-Saharan Africa (Value, Exports): 2016: –8.1; 2017: 17.2; 2018: 15.1; 2019: –3.5; 2020: –15.7; 2021: 35.2; 2022: 15.8; 2023: –9.3; 2024: 6.2; 2025: 6.0.
- Unit value and terms of trade (selected EMDE aggregates):
  - EMDE Exports unit value (US$): 2006–15 average: 2.3; 2016–25 average: 2.0; 2016: –7.5; 2017: 6.9; 2018: 7.2; 2019: –2.1; 2020: –4.9; 2021: 17.8; 2022: 12.1; 2023: –6.3; 2024: 0.2; 2025: –0.4.
  - EMDE Terms of Trade: 2006–15 average: 0.4; 2016–25 average: –0.2; 2016: –1.6; 2017: 1.4; 2018: 1.1; 2019: –0.3; 2020: –2.7; 2021: 0.8; 2022: 2.4; 2023: –1.9; 2024: –1.3; 2025: –0.3.

### Emerging Market and Developing Economies by Source of Export Earnings: Total Trade in Goods (Annual percent change)
- Fuel exporters (Value in US dollars, Exports): 2006–15 average: 3.3; 2016–25 average: 4.2; 2016: –10.0; 2017: 19.1; 2018: 18.3; 2019: –8.8; 2020: –28.6; 2021: 47.9; 2022: 37.0; 2023: –12.0; 2024: 1.3; 2025: 1.3.
- Nonfuel exporters (Value in US dollars, Exports): 2006–15 average: 8.0; 2016–25 average: 5.4; 2016: –4.2; 2017: 13.0; 2018: 10.1; 2019: –1.2; 2020: –2.2; 2021: 29.3; 2022: 9.5; 2023: –5.5; 2024: 5.1; 2025: 4.4.
- Primary products (Value in US dollars, Exports): 2006–15 average: 5.7; 2016–25 average: 5.8; 2016: –0.1; 2017: 12.8; 2018: 8.2; 2019: –3.0; 2020: –4.0; 2021: 36.4; 2022: 7.3; 2023: –7.4; 2024: 7.1; 2025: 7.0.
- Fuel exporters (Unit value, Exports): 2006–15 average: 0.8; 2016–25 average: 3.3; 2016: –11.1; 2017: 15.8; 2018: 17.2; 2019: –6.3; 2020: –20.1; 2021: 41.2; 2022: 29.7; 2023: –11.9; 2024: 0.0; 2025: –4.6.
- Nonfuel exporters (Terms of Trade): 2006–15 average: 0.8; 2016–25 average: –0.3; 2016: –0.4; 2017: –0.5; 2018: –0.9; 2019: 0.9; 2020: 0.5; 2021: –2.2; 2022: –0.1; 2023: –0.3; 2024: –1.0; 2025: 0.8.

### Summary of Current Account Transactions (Billions of US dollars; projections included)
- World aggregates (Selected lines):
  - Advanced Economies Current Account Balance: 2006–15 average: –88.4; 2010–17 average: 190.2; 2018: 383.5; 2019: 387.3; 2020: 135.7; 2021: 456.8; 2022: –236.7; 2023: 139.0; 2024: 226.5; 2025 (projection): 251.5; 2026–29 average: 404.6.
  - Advanced Economies Exports of Goods: 2006–15 average: 9,658.6; 2016: 10,303.9; 2018: 11,376.8; 2021: 12,582.7; 2022: 13,785.0; 2023: 13,319.3; 2024: 13,678.2; 2025: 14,163.6; 2026–29 average: 15,548.0.
  - Advanced Economies Imports of Goods: 2006–15 average: 10,068.5; 2016: 10,606.2; 2018: 11,688.8; 2021: 12,904.4; 2022: 14,665.6; 2023: 13,724.3; 2024: 14,033.6; 2025: 14,492.1; 2026–29 average: 15,813.5.
- Selected country current account balances (Billions of US dollars):
  - United States Current Account Balance: 2006–15 average: –505.3; 2016: –398.4; 2018: –439.8; 2019: –441.8; 2020: –601.2; 2021: –868.0; 2022: –1,012.1; 2023: –905.4; 2024: –948.6; 2025 (projection): –933.9; 2026–29 average: –810.1.
  - Germany Current Account Balance: 2006–15 average: 231.4; 2016: 260.3; 2018: 316.2; 2019: 317.8; 2020: 253.9; 2021: 311.8; 2022: 173.5; 2023: 278.7; 2024: 311.7; 2025: 313.4; 2026–29 average: 305.0.
  - Japan Current Account Balance: 2006–15 average: 130.4; 2016: 128.9; 2018: 177.8; 2019: 176.3; 2020: 149.9; 2021: 196.2; 2022: 90.0; 2023: 150.0; 2024: 154.0; 2025: 158.7; 2026–29 average: 160.5.
- Emerging Market and Developing Economies aggregates:
  - EMDE Current Account Balance: 2006–15 average: 343.8; 2016: 138.2; 2018: –52.4; 2019: 0.1; 2020: 146.6; 2021: 385.4; 2022: 706.3; 2023: 278.8; 2024: 173.4; 2025 (projection): 126.9; 2026–29 average: –4.7.
  - EMDE Exports of Goods (Billions of US dollars): 2006–15 average: 6,129.9; 2016: 6,907.9; 2018: 7,729.6; 2019: 7,529.2; 2020: 7,031.2; 2021: 9,254.8; 2022: 10,494.0; 2023: 9,798.7; 2024: 10,236.1; 2025: 10,635.7; 2026–29 average: 11,914.8.
  - EMDE Imports of Goods (Billions of US dollars): 2006–15 average: 5,376.9; 2016: 6,208.5; 2018: 7,157.1; 2019: 7,031.7; 2020: 6,489.4; 2021: 8,441.3; 2022: 9,457.5; 2023: 9,159.1; 2024: 9,632.4; 2025: 10,052.8; 2026–29 average: 11,430.4.
- EMDE balances (components, selected lines):
  - EMDE Goods Balance: 2006–15 average: 752.9; 2016: 699.3; 2018: 572.5; 2019: 497.5; 2020: 541.8; 2021: 813.4; 2022: 1,036.5; 2023: 639.6; 2024: 603.8; 2025: 582.9; 2026–29 average: 484.4.
  - EMDE Services Balance: 2006–15 average: –257.7; 2016: –332.8; 2018: –365.6; 2019: –294.0; 2020: –224.1; 2021: –178.7; 2022: –67.2; 2023: –100.7; 2024: –155.2; 2025: –158.2; 2026–29 average: –159.8.
  - EMDE Primary Income Balance: 2006–15 average: –390.5; 2016: –462.4; 2018: –538.5; 2019: –519.9; 2020: –499.3; 2021: –622.3; 2022: –689.4; 2023: –695.9; 2024: –729.6; 2025: –762.5; 2026–29 average: –857.8.
  - EMDE Secondary Income Balance: 2006–15 average: 243.9; 2016: 240.4; 2018: 284.2; 2019: 323.3; 2020: 333.3; 2021: 382.6; 2022: 434.5; 2023: 437.9; 2024: 456.8; 2025: 466.4; 2026–29 average: 529.8.

*Source: tableb - Section 3 (tableb.pdf) — World Economic Outlook: Policy Pivot, Rising Threats, October 2024.*

### Section 4

### tableb - Section 4

### Summary of Current Account Transactions — Regional Groups (Billions of US dollars, averages and projections)
- Emerging and Developing Asia
  - Current Account Balance: 244.8 (2006–15 average); 182.1 (2010–17 average); –53.2 (2018); 93.7 (2019); 320.5 (2020); 288.6 (2021); 336.5 (2022); 247.3 (2023); 221.8 (2024); 260.1 (2025); 177.9 (2026–29)
  - Trade Balance: 206.2; 181.1; –21.9; 76.6; 372.1; 343.9; 419.5; 314.4; 268.6; 314.7; 233.7
  - Goods Balance: 238.7; 266.7; 168.5; 226.5; 473.4; 408.2; 424.8; 387.3; 391.3; 449.6; 428.3
  - Exports of Goods: 2,600.7; 3,143.0; 3,792.2; 3,745.7; 3,817.5; 4,904.5; 5,239.5; 4,939.5; 5,217.8; 5,457.6; 6,144.3
  - Imports of Goods: 2,362.0; 2,876.3; 3,623.7; 3,519.2; 3,344.1; 4,496.2; 4,814.7; 4,552.2; 4,826.5; 5,008.0; 5,716.0
  - Services Balance: –32.5; –85.6; –190.4; –149.9; –101.3; –64.3; –5.3; –72.9; –122.6; –134.8; –194.5
  - Primary Income Balance: –89.8; –131.0; –180.0; –153.4; –222.6; –249.6; –291.8; –289.3; –284.3; –304.5; –346.9
  - Secondary Income Balance: 128.4; 132.0; 148.8; 170.6; 171.0; 194.4; 208.9; 222.2; 237.4; 249.8; 291.1

- Emerging and Developing Europe
  - Current Account Balance: –22.9; –17.4; 68.3; 53.5; 2.8; 70.5; 130.6; –24.1; –15.8; –42.4; –44.7
  - Trade Balance: 48.4; 63.8; 144.8; 141.9; 63.4; 165.5; 196.4; 42.1; 70.2; 58.4; 71.3
  - Goods Balance: 27.6; 36.3; 77.1; 72.9; 6.6; 82.3; 94.9; –58.6; –33.3; –55.0; –80.3
  - Exports of Goods: 983.3; 1,054.1; 1,186.3; 1,168.1; 1,059.1; 1,419.9; 1,584.0; 1,441.4; 1,520.1; 1,582.5; 1,775.0
  - Imports of Goods: 955.7; 1,017.8; 1,109.2; 1,095.2; 1,052.6; 1,337.5; 1,489.1; 1,500.0; 1,553.4; 1,637.5; 1,855.2
  - Services Balance: 20.8; 27.6; 67.7; 69.0; 56.9; 83.2; 101.5; 100.7; 103.6; 113.4; 151.6
  - Primary Income Balance: –88.9; –95.8; –91.2; –103.6; –77.6; –111.9; –99.1; –97.2; –110.9; –116.6; –130.3
  - Secondary Income Balance: 17.6; 14.6; 14.7; 15.3; 17.1; 16.8; 33.2; 31.0; 24.8; 15.8; 14.4

- Middle East and Central Asia
  - Current Account Balance: 240.6; 159.1; 112.6; 15.5; –122.8; 136.0; 409.1; 176.7; 87.1; 42.3; 9.8
  - Trade Balance: 264.4; 208.8; 163.0; 75.6; –74.0; 181.6; 463.4; 242.0; 153.4; 110.7; 82.7
  - Goods Balance: 409.4; 357.8; 305.9; 192.3; 2.7; 278.3; 511.4; 268.8; 189.0; 145.5; 95.6
  - Exports of Goods: 1,274.4; 1,335.9; 1,307.8; 1,210.9; 906.6; 1,310.7; 1,775.5; 1,586.7; 1,603.5; 1,639.0; 1,819.9
  - Imports of Goods: 865.1; 978.1; 1,001.9; 1,018.6; 904.0; 1,032.5; 1,264.1; 1,317.9; 1,414.5; 1,493.4; 1,724.4
  - Services Balance: –127.1; –140.7; –126.8; –105.3; –76.5; –81.3; –27.6; –13.0; –24.9; –23.0; –0.7
  - Primary Income Balance: –24.5; –26.6; –34.4; –40.1; –26.3; –30.9; –47.2; –36.2; –38.6; –41.9; –48.6
  - Secondary Income Balance: –12.3; –25.0; –27.2; –24.7; –17.8; –20.3; –19.6; –40.8; –36.3; –36.7; –35.2

- Latin America and the Caribbean
  - Current Account Balance: –96.9; –144.5; –145.0; –107.9; –9.3; –91.9; –126.0; –69.5; –60.6; –77.6; –90.6
  - Trade Balance: –25.2; –57.9; –54.4; –33.2; 23.1; –42.6; –86.4; –10.0; 12.3; –9.4; –8.4
  - Goods Balance: 34.7; 14.7; 4.0; 13.5; 74.8; 21.8; –10.8; 49.7; 64.1; 43.4; 46.5
  - Exports of Goods: 928.1; 1,015.3; 1,088.3; 1,062.5; 959.6; 1,229.9; 1,443.6; 1,421.4; 1,459.7; 1,495.9; 1,659.2
  - Imports of Goods: 893.5; 1,000.5; 1,084.2; 1,049.1; 884.8; 1,208.1; 1,454.4; 1,371.7; 1,395.6; 1,452.5; 1,612.7
  - Services Balance: –59.9; –72.8; –58.2; –46.5; –51.6; –64.4; –75.5; –59.6; –51.7; –52.7; –54.9
  - Primary Income Balance: –137.4; –156.5; –182.2; –174.2; –139.4; –181.5; –188.3; –219.1; –238.0; –236.8; –264.6
  - Secondary Income Balance: 65.7; 69.9; 91.5; 99.4; 106.9; 132.2; 148.7; 159.6; 165.1; 168.6; 182.4

- Sub-Saharan Africa
  - Current Account Balance: –21.8; –41.1; –35.1; –54.7; –44.6; –17.8; –43.9; –51.6; –58.9; –55.5; –57.1
  - Trade Balance: –16.4; –37.5; –40.8; –69.0; –67.1; –29.1; –44.1; –63.5; –66.8; –61.7; –66.9
  - Goods Balance: 42.6; 23.8; 17.0; –7.7; –15.6; 22.8; 16.2; –7.6; –7.3; –0.6; –5.7
  - Exports of Goods: 343.3; 359.5; 355.0; 341.9; 288.3; 389.8; 451.4; 409.7; 434.9; 460.7; 516.5
  - Imports of Goods: 300.7; 335.7; 338.0; 349.6; 303.9; 367.0; 435.2; 417.3; 442.2; 461.4; 522.2
  - Services Balance: –59.1; –61.3; –57.9; –61.2; –51.5; –51.9; –60.3; –55.9; –59.5; –61.1; –61.2
  - Primary Income Balance: –49.9; –52.5; –50.6; –48.5; –33.5; –48.3; –63.0; –54.1; –58.0; –62.6; –67.4
  - Secondary Income Balance: 44.5; 48.9; 56.3; 62.8; 56.1; 59.6; 63.3; 66.0; 65.9; 68.8; 77.2

### Summary of Current Account Transactions — Analytical Groups (Billions of US dollars)
- By Source of Export Earnings — Fuel
  - Current Account Balance: 310.9; 221.6; 204.3; 69.4; –101.0; 194.8; 509.7; 236.9; 170.0; 114.2; 83.6
  - Trade Balance: 403.2; 351.7; 332.0; 195.2; 14.2; 323.9; 667.1; 378.6; 308.7; 263.9; 257.4
  - Goods Balance: 628.5; 580.4; 544.8; 391.8; 135.5; 467.7; 785.7; 493.1; 428.0; 382.8; 370.2
  - Exports of Goods: 1,415.6; 1,462.6; 1,374.7; 1,254.1; 895.2; 1,323.9; 1,813.5; 1,596.7; 1,616.3; 1,636.8; 1,787.7
  - Imports of Goods: 787.1; 882.3; 829.9; 862.3; 759.8; 856.2; 1,027.8; 1,103.6; 1,188.3; 1,254.0; 1,417.5
  - Services Balance: –207.4; –220.3; –196.7; –185.2; –121.1; –128.4; –98.2; –100.7; –108.5; –107.0; –100.6
  - Primary Income Balance: –50.4; –52.4; –51.6; –46.5; –21.4; –33.0; –61.1; –36.6; –31.0; –38.1; –46.6
  - Secondary Income Balance: –53.6; –79.3; –87.4; –84.0; –89.1; –101.8; –108.8; –111.5; –112.6; –117.6; –132.9

- By Source of Export Earnings — Nonfuel
  - Current Account Balance: 34.6; –81.3; –254.6; –67.6; 249.6; 192.4; 198.7; 44.8; 7.0; 15.9; –85.1
  - Trade Balance: 78.5; 11.6; –135.0; 3.2; 309.0; 302.4; 290.4; 154.7; 136.2; 156.2; 63.3
  - Goods Balance: 129.1; 123.8; 33.1; 111.2; 411.2; 411.1; 351.7; 258.4; 153.6; 182.0; 206.5
  - Exports of Goods: 4,707.0; 5,442.1; 6,353.0; 6,273.3; 6,134.2; 7,928.6; 8,677.8; 8,199.5; 8,617.4; 8,996.5; 10,124.6
  - Imports of Goods: 4,577.9; 5,318.4; 6,320.0; 6,162.1; 5,723.1; 7,576.8; 8,419.5; 8,045.8; 8,435.5; 8,789.9; 10,003.1
  - Services Balance: –50.6; –112.3; –167.9; –107.8; –102.1; –49.4; 32.2; 1.1; –45.7; –50.2; –58.0
  - Primary Income Balance: –340.1; –411.0; –489.7; –476.4; –480.4; –592.8; –632.8; –659.3; –698.6; –724.3; –811.2
  - Secondary Income Balance: 296.2; 318.1; 370.1; 405.6; 421.1; 482.8; 541.1; 549.4; 569.4; 584.0; 662.7

- By External Financing Source — Net Debtor Economies (Current Account and trade)
  - Current Account Balance: –290.9; –352.9; –391.3; –306.0; –131.8; –302.4; –450.0; –264.5; –343.4; –395.9; –477.6
  - Trade Balance: –303.3; –360.3; –420.0; –361.3; –238.9; –372.5; –564.0; –332.6; –380.2; –432.3; –520.6
  - Goods Balance: –308.8; –386.3; –517.8; –480.0; –315.2; –486.1; –729.1; –578.9; –644.6; –715.8; –889.6
  - Exports of Goods: 2,273.3; 2,540.0; 2,844.3; 2,812.8; 2,597.5; 3,370.6; 3,866.8; 3,795.7; 3,917.5; 4,085.1; 4,623.6
  - Imports of Goods: 2,582.2; 2,926.3; 3,362.0; 3,292.8; 2,912.6; 3,856.7; 4,596.0; 4,374.6; 4,562.1; 4,800.9; 5,513.2
  - Services Balance: 5.5; 25.8; 97.9; 118.8; 76.3; 113.6; 165.3; 246.4; 264.5; 283.5; 369.1
  - Primary Income Balance: –271.7; –310.9; –355.9; –359.3; –311.5; –408.6; –420.4; –476.1; –525.8; –541.3; –615.0
  - Secondary Income Balance: 282.8; 318.0; 384.6; 414.6; 418.7; 478.7; 534.5; 538.9; 558.9; 573.6; 652.9

### Emerging Market and Developing Economies: External Debt and Debt Service (Billions of US dollars; projections)
- External Debt (total)
  - Emerging Market and Developing Economies: 8,668.6 (2016); 9,639.3 (2017); 10,081.4 (2018); 10,591.5 (2019); 11,318.6 (2020); 12,078.5 (2021); 11,787.6 (2022); 12,107.9 (2023); 12,714.6 (2024); 13,389.5 (2025)
- Regional totals (2025 projection)
  - Emerging and Developing Asia: 5,183.2
  - Emerging and Developing Europe: 2,138.7
  - Latin America and the Caribbean: 2,849.1
  - Middle East and Central Asia: 2,356.5
  - Sub-Saharan Africa: 862.0
- By external financing source
  - Net Debtor Economies total debt: 5,074.5 (2016) → 7,490.7 (2025 projection)
  - Economies with Arrears and/or Rescheduling during 2019–23 total debt: 672.4 (2016) → 1,025.9 (2025 projection)

- Debt-Service Payments (total)
  - Emerging Market and Developing Economies: 2,987.6 (2016); 2,982.5 (2017); 3,479.3 (2018); 3,716.2 (2019); 3,718.5 (2020); 3,905.2 (2021); 4,187.3 (2022); 4,218.0 (2023); 4,340.5 (2024); 4,600.6 (2025)

- Regional debt-service payments (2025 projection)
  - Emerging and Developing Asia: 2,566.9
  - Emerging and Developing Europe: 811.3
  - Latin America and the Caribbean: 685.2
  - Middle East and Central Asia: 411.7
  - Sub-Saharan Africa: 125.5

### External Debt: Ratios, Maturities, and Percent Indicators
- External debt (percent of exports of goods and services) — Emerging Market and Developing Economies
  - 118.4 (2016); 116.4 (2017); 109.4 (2018); 116.7 (2019); 137.9 (2020); 112.9 (2021); 95.4 (2022); 102.5 (2023); 102.7 (2024); 103.8 (2025)
- Debt-service payments (percent of exports of goods and services) — Emerging Market and Developing Economies
  - 41.3 (2016); 36.5 (2017); 38.3 (2018); 41.5 (2019); 45.7 (2020); 36.9 (2021); 34.3 (2022); 36.1 (2023); 35.5 (2024); 36.0 (2025)

- External Debt by Maturity (Emerging Market and Developing Economies, Billions of US dollars)
  - Total Debt: 8,668.6 (2016) → 13,389.5 (2025)
  - Short Term: 2,134.2 (2016) → 3,614.1 (2025)
  - Long Term: 6,534.5 (2016) → 9,775.3 (2025)

- Regional example (Emerging and Developing Asia by maturity, 2025 projection)
  - Total Debt: 5,183.2
  - Short Term: 2,097.5
  - Long Term: 3,085.7

- Analytical groups by maturity (2025 projections)
  - Fuel — Total Debt: 2,030.3; Short Term: 434.1; Long Term: 596.2
  - Nonfuel — Total Debt: 11,357.0; Short Term: 3,180.0; Long Term: 8,177.0
  - Net Debtor Economies — Total Debt: 7,490.7; Short Term: 1,217.6; Long Term: 6,273.0
  - Economies with Arrears and/or Rescheduling during 2019–23 — Total Debt: 1,025.9; Short Term: 103.7; Long Term: 922.2

### Ratio of External Debt to GDP (percent)
- Emerging Market and Developing Economies: 30.0 (2016); 29.8 (2017); 30.6 (2018); 30.7 (2019); 33.3 (2020); 31.4 (2021); 29.1 (2022); 29.6 (2023); 29.0 (2024); 28.3 (2025)
- Selected regional 2025 ratios:
  - Emerging and Developing Asia: 18.3
  - Emerging and Developing Europe: 38.4
  - Latin America and the Caribbean: 41.9
  - Middle East and Central Asia: 47.0
  - Sub-Saharan Africa: 46.6
- Analytical-group 2025 ratios:
  - Fuel: 46.2
  - Nonfuel: 26.5
  - Net Debtor Economies: 38.4
  - Economies with Arrears and/or Rescheduling during 2019–23: 61.3

*Source: tableb - Section 4 (PDF).*

### Section 5

### Emerging Market and Developing Economies: Debt-Service Ratios

### Interest payments (percent of exports of goods and services)
- Emerging Market and Developing Economies (annual series): 2016 4.0, 2017 3.8, 2018 4.1, 2019 4.4, 2020 4.6, 2021 3.5, 2022 3.5, 2023 4.5, 2024 4.3, 2025 4.2
- Regional highlights (selected values across 2016–2025):
  - Emerging and Developing Asia: 2016 3.2, 2017 3.2, 2018 3.6, 2019 3.8, 2020 4.0, 2021 3.5, 2022 3.6, 2023 4.0, 2024 3.9, 2025 3.9
  - Emerging and Developing Europe: 2016 4.0, 2017 3.0, 2018 2.9, 2019 3.0, 2020 3.2, 2021 2.3, 2022 2.2, 2023 2.9, 2024 2.5, 2025 2.4
  - Latin America and the Caribbean: 2016 7.0, 2017 7.2, 2018 7.5, 2019 8.1, 2020 8.1, 2021 5.6, 2022 5.3, 2023 7.0, 2024 6.9, 2025 6.9
  - Middle East and Central Asia: 2016 3.7, 2017 3.5, 2018 3.9, 2019 4.5, 2020 4.8, 2021 2.9, 2022 3.1, 2023 5.2, 2024 5.3, 2025 4.7
  - Sub-Saharan Africa: 2016 5.0, 2017 3.8, 2018 4.3, 2019 4.7, 2020 5.6, 2021 4.7, 2022 3.7, 2023 4.1, 2024 4.7, 2025 5.0
- Analytical groups by source of export earnings (selected series):
  - Fuel: 2016 3.5, 2017 3.3, 2018 3.5, 2019 4.0, 2020 4.4, 2021 2.6, 2022 2.9, 2023 4.9, 2024 4.8, 2025 4.1
  - Nonfuel: 2016 4.1, 2017 3.9, 2018 4.2, 2019 4.5, 2020 4.6, 2021 3.7, 2022 3.6, 2023 4.4, 2024 4.3, 2025 4.3
  - Of which, Primary Products: 2016 6.9, 2017 6.8, 2018 8.0, 2019 8.5, 2020 7.8, 2021 5.1, 2022 5.3, 2023 6.1, 2024 6.6, 2025 6.3
- By external financing source:
  - Net Debtor Economies: 2016 4.8, 2017 4.6, 2018 4.8, 2019 5.1, 2020 5.1, 2021 3.9, 2022 4.0, 2023 5.3, 2024 5.1, 2025 5.0
- Debt-servicing experience subgroup:
  - Economies with Arrears and/or Rescheduling during 2019–23: 2016 5.8, 2017 5.7, 2018 6.0, 2019 7.1, 2020 7.4, 2021 5.5, 2022 4.6, 2023 6.1, 2024 7.0, 2025 7.6
- Other groups:
  - Middle East and North Africa: 2016 3.1, 2017 3.0, 2018 3.3, 2019 3.9, 2020 4.1, 2021 2.5, 2022 2.8, 2023 4.8, 2024 5.0, 2025 4.2
  - Emerging Market and Middle-Income Economies: 2016 4.1, 2017 3.8, 2018 4.1, 2019 4.4, 2020 4.6, 2021 3.5, 2022 3.5, 2023 4.5, 2024 4.3, 2025 4.2
  - Low-Income Developing Countries: 2016 3.4, 2017 3.3, 2018 3.6, 2019 3.7, 2020 4.4, 2021 4.4, 2022 3.7, 2023 4.3, 2024 4.9, 2025 5.3
  - Heavily Indebted Poor Countries: 2016 3.9, 2017 3.6, 2018 4.0, 2019 4.5, 2020 4.9, 2021 5.1, 2022 3.8, 2023 3.9, 2024 4.4, 2025 4.6

### Amortization (percent of exports of goods and services)
- Emerging Market and Developing Economies (annual series): 2016 37.2, 2017 32.6, 2018 34.1, 2019 37.0, 2020 41.1, 2021 33.3, 2022 30.8, 2023 31.7, 2024 31.1, 2025 31.8
- Regional highlights (selected values across 2016–2025):
  - Emerging and Developing Asia: 2016 39.1, 2017 34.2, 2018 38.6, 2019 42.7, 2020 42.7, 2021 36.5, 2022 36.8, 2023 36.8, 2024 36.5, 2025 35.1, 2026–29 35.8 (note: series includes 2026–29 in table B21 continuation)
  - Emerging and Developing Europe: 2016 49.0, 2017 41.9, 2018 40.9, 2019 38.6, 2020 45.7, 2021 36.9, 2022 32.0, 2023 36.2, 2024 37.3, 2025 37.3, 2026–29 37.6
  - Latin America and the Caribbean: 2016 45.8, 2017 39.9, 2018 37.0, 2019 41.9, 2020 49.8, 2021 36.6, 2022 30.7, 2023 31.8, 2024 31.2, 2025 32.1
  - Middle East and Central Asia: 2016 15.5, 2017 14.8, 2018 14.3, 2019 16.5, 2020 24.3, 2021 17.6, 2022 15.1, 2023 15.2, 2024 15.1, 2025 15.9
  - Sub-Saharan Africa: 2016 22.1, 2017 19.4, 2018 23.5, 2019 24.2, 2020 27.9, 2021 19.2, 2022 15.7, 2023 19.1, 2024 18.1, 2025 18.6
- Analytical groups by source of export earnings (selected series):
  - Fuel: 2016 10.3, 2017 9.4, 2018 9.4, 2019 10.0, 2020 16.5, 2021 12.2, 2022 10.8, 2023 11.0, 2024 11.6, 2025 12.1
  - Nonfuel: 2016 41.9, 2017 36.8, 2018 38.8, 2019 41.8, 2020 44.5, 2021 36.5, 2022 34.5, 2023 35.4, 2024 34.5, 2025 35.1
  - Of which, Primary Products: 2016 48.2, 2017 41.7, 2018 45.0, 2019 51.0, 2020 55.3, 2021 39.0, 2022 36.7, 2023 39.9, 2024 33.5, 2025 33.4
- By external financing source:
  - Net Debtor Economies: 2016 40.7, 2017 36.1, 2018 34.1, 2019 34.8, 2020 40.9, 2021 31.8, 2022 27.5, 2023 29.5, 2024 30.1, 2025 30.7
- Debt-servicing experience subgroup:
  - Economies with Arrears and/or Rescheduling during 2019–23: 2016 55.1, 2017 51.0, 2018 47.7, 2019 49.8, 2020 56.8, 2021 41.0, 2022 37.6, 2023 38.0, 2024 33.6, 2025 35.6
- Other groups:
  - Middle East and North Africa: 2016 15.2, 2017 14.4, 2018 13.9, 2019 16.0, 2020 23.9, 2021 17.0, 2022 14.5, 2023 13.9, 2024 14.0, 2025 15.0
  - Emerging Market and Middle-Income Economies: 2016 38.3, 2017 33.5, 2018 35.1, 2019 38.2, 2020 42.3, 2021 34.1, 2022 31.6, 2023 32.5, 2024 31.8, 2025 32.6
  - Low-Income Developing Countries (fragmented series as provided): 2016 11.0, 2017 10.1, 2018 12.9, 2019 11.6, 2020 13.6, 2021 12.3, 2022 10.8, 2023 11.7, 2024 12.7, 2025 11.4
  - Heavily Indebted Poor Countries: 2016 8.6, 2017 9.9, 2018 9.5, 2019 10.9, 2020 11.9, 2021 12.7, 2022 9.8, 2023 9.0, 2024 10.3, 2025 9.5

### Selected economic indicators (Table B21: annual percent change and percent of exports)
- Real GDP (annual percent change, Emerging Market and Developing Economies):
  - Averages and projections: 2006–15 5.6, 2016–25 3.9, 2022 4.0, 2023 4.4, 2024 4.2, 2025 4.2, 2022–25 4.2, 2026–29 4.0
- Export Volume (percent change, trade in goods and services): 2006–15 5.2, 2016–25 3.4, 2022 4.6, 2023 0.6, 2024 4.6, 2025 4.6, 2022–25 3.6, 2026–29 4.1
- Terms of Trade (percent change): 2006–15 0.4, 2016–25 0.0, 2022 1.5, 2023 –0.8, 2024 –0.7, 2025 0.0, 2022–25 0.0, 2026–29 –0.2
- Import Volume (percent change): 2006–15 6.7, 2016–25 3.1, 2022 4.2, 2023 3.0, 2024 4.6, 2025 4.9, 2022–25 4.2, 2026–29 4.3

- Current account balance (percent of exports of goods and services, projections): 2013 2.0, 2017 –0.3, 2021 3.5, 2022 5.6, 2023 2.3, 2024 1.4, 2025 0.9, 2029 –0.7
- Total external debt (percent of exports of goods and services, projections): 2013 94.4, 2017 116.4, 2021 112.9, 2022 95.4, 2023 102.5, 2024 102.7, 2025 103.8, 2029 105.4
- Debt-service payments (percent of exports of goods and services, projections): 2013 34.5, 2017 36.5, 2021 36.9, 2022 34.3, 2023 36.1, 2024 35.5, 2025 36.0, 2029 37.0
- Interest payments (percent of exports, projections in Table B21 continuation): 2013 3.1, 2017 3.8, 2021 3.5, 2022 3.5, 2023 4.5, 2024 4.3, 2025 4.2, 2029 4.0
- Amortization (percent of exports, projections in Table B21 continuation): 2013 31.2, 2017 32.6, 2021 33.3, 2022 30.8, 2023 31.7, 2024 31.1, 2025 31.8, 2029 32.9

- Regional current account and debt-service snapshots (selected entries, percent of exports):
  - Emerging and Developing Asia: Current Account Balance 2022 5.5, 2023 5.6, 2024 4.2, 2025 3.6; Debt-Service Payments 2022 40.4, 2023 40.4, 2024 40.6, 2025 39.1
  - Emerging and Developing Europe: Current Account Balance 2022 4.0, 2023 6.7, 2024 –1.3, 2025 –0.8; Debt-Service Payments 2022 39.2, 2023 34.1, 2024 39.1, 2025 39.8
  - Latin America and the Caribbean: Current Account Balance 2022 –6.6, 2023 –7.6, 2024 –4.2, 2025 –3.5; Debt-Service Payments 2022 42.4, 2023 36.3, 2024 39.0, 2025 38.3
  - Middle East and Central Asia: Current Account Balance 2022 8.6, 2023 18.7, 2024 8.6, 2025 4.1; Debt-Service Payments 2022 20.6, 2023 18.3, 2024 20.4, 2025 20.4
  - Sub-Saharan Africa: Current Account Balance 2022 –4.0, 2023 –8.5, 2024 –10.7, 2025 –11.5; Debt-Service Payments 2022 23.9, 2023 23.9, 2024 19.4, 2025 23.2

- Analytical group — Net Debtor Economies with Arrears and/or Rescheduling during 2019–23 (selected levels, percent of exports):
  - Current Account Balance (2022) –9.1, (2023) –8.0, (2024) –10.5, (2025) –16.3
  - Total External Debt (2022) 197.4, (2023) 208.8, (2024) 201.1, (2025) 170.6
  - Debt-Service Payments (2022) 46.5, (2023) 42.2, (2024) 44.1, (2025) 40.7
  - Interest Payments (2022) 5.5, (2023) 4.6, (2024) 6.1, (2025) 7.0
  - Amortization (2022) 41.0, (2023) 41.0, (2024) 37.6, (2025) 38.0

*Source: tableb - Section 5 (WORLD ECONOMIC OUTLOOK statistical appendix tables).*

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