World Economic Outlook Database - Groups and Aggregates Information
World Economic Outlook
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Classification of Economies
- The WEO divides the world into two major groups: advanced economies and emerging and developing economies.
- The classification:
- "is not based on strict criteria, economic or otherwise, and has evolved over time."
- has the objective "to facilitate analysis by providing a reasonably meaningful method of organizing data."
- Some economies remain outside the classification and therefore are not included in the analysis. Examples provided: Cuba and the Democratic People’s Republic of Korea (not IMF members, and the IMF therefore does not monitor them).
- Last Updated: April 2025
Aggregation methods — general rules
- Composite data for country groups in the WEO are either sums or weighted averages of data for individual countries.
- Arithmetically weighted averages are used for all data for the emerging market and developing economies group—except data on inflation, for which geometric averages are used.
- Unless noted otherwise, group composites are computed if 90 percent or more of the share of group weights is represented.
Aggregation conventions by data type
- Domestic economy (growth rates or ratios):
- Weighted by GDP valued at purchasing power parity as a share of total world or group GDP.
- Inflation:
- For advanced economies (and subgroups): annual rates are simple percentage changes from the previous years.
- For world inflation and inflation in emerging market and developing economies (and subgroups): annual rates are based on logarithmic differences.
- Emerging market and developing economies group uses geometric averages for inflation.
- Real GDP per capita (PPP terms):
- Composites are sums of individual country data after conversion to the international dollar in the years indicated.
- Euro area:
- Unless noted otherwise, composites for all sectors for the euro area are corrected for reporting discrepancies in transactions within the area.
- Unadjusted annual GDP data are used for the euro area and for the majority of individual countries, except for Cyprus, Ireland, Portugal, and Spain, which report calendar-adjusted data.
- For data prior to 1999, data aggregations apply 1995 European currency unit exchange rates.
- Fiscal data:
- Composites are sums of individual country data after conversion to US dollars at the average market exchange rates in the years indicated.
- Unemployment rates and employment growth:
- Weighted by labor force as a share of group labor force.
- External sector statistics:
- Composites are sums of individual country data after conversion to US dollars at the average market exchange rates in the years indicated for balance of payments data and at end-of-year market exchange rates for debt denominated in currencies other than US dollars.
- Foreign trade volumes and prices:
- Composites of changes are arithmetic averages of percent changes for individual countries weighted by the US dollar value of exports or imports as a share of total world or group exports or imports (in the preceding year).
Country group compositions (as listed)
- Advanced economies (selected listing across columns):
- Andorra; Australia; Austria; Belgium; Canada; Croatia; Cyprus; Czech Republic; Denmark; Estonia; Finland; France; Germany; Greece; Hong Kong SAR; Iceland; Ireland; Israel; Italy; Japan; Korea; Latvia; Lithuania; Luxembourg; Macao SAR; Malta; The Netherlands; New Zealand; Norway; Portugal; Puerto Rico; San Marino; Singapore; Slovak Republic; Slovenia; Spain; Sweden; Switzerland; Taiwan Province of China; United Kingdom; United States
- Euro area members and related subgroup listings (selected entries as listed):
- Austria; Belgium; Croatia; Cyprus; Estonia; Finland; France; Germany; Greece; Ireland; Italy; Latvia; Lithuania; Luxembourg; Malta; The Netherlands; Portugal; Slovak Republic; Slovenia; Spain
- G7 (selected listing as listed):
- Canada; France; Germany; Italy; Japan; United Kingdom; United States
- Other advanced-economy subsets (selected entries as listed):
- Andorra; Australia; Czech Republic; Denmark; Hong Kong SAR; Iceland; Israel; Korea; Macao SAR; New Zealand; Norway; Puerto Rico; San Marino; Singapore; Sweden; Switzerland; Taiwan Province of China
- Emerging market and developing economies (selected listing across columns):
- Afghanistan; Albania; Algeria; Angola; Antigua and Barbuda; Argentina; Armenia; Aruba; Azerbaijan; The Bahamas; Bahrain; Bangladesh; Barbados; Belarus; Belize; Benin; Bhutan; Bolivia; Bosnia and Herzegovina; Botswana; Brazil; Brunei Darussalam; Bulgaria; Burkina Faso; Burundi; Cabo Verde; Cambodia; Cameroon; Central African Republic; Chad; Chile; China; Colombia; Comoros; Democratic Republic of the Congo; Republic of Congo; Costa Rica; Côte d'Ivoire; Djibouti; Dominica; Dominican Republic; Ecuador; Egypt; El Salvador; Equatorial Guinea; Eritrea; Eswatini; Ethiopia; Fiji; Gabon; The Gambia; Georgia; Ghana; Grenada; Guatemala; Guinea; Guinea-Bissau; Guyana; Haiti; Honduras; Hungary; India; Indonesia; Iran; Iraq; Jamaica; Jordan; Kazakhstan; Kenya; Kiribati; Kosovo; Kuwait; Kyrgyz Republic; Lao P.D.R.; Lebanon; Lesotho; Liberia; Libya; Madagascar; Malawi; Malaysia; Maldives; Mali; Marshall Islands; Mauritania; Mauritius; Mexico; Micronesia; Moldova; Mongolia; Montenegro; Morocco; Mozambique; Myanmar; Namibia; Nauru; Nepal; Nicaragua; Niger; Nigeria; North Macedonia; Oman; Pakistan; Palau; Panama; Papua New Guinea; Paraguay; Peru; Philippines; Poland; Qatar; Romania; Russia; Rwanda; Samoa; São Tomé and Príncipe; Saudi Arabia; Senegal; Serbia; Seychelles; Sierra Leone; Solomon Islands; Somalia; South Africa; South Sudan; Sri Lanka; St. Kitts and Nevis; St. Lucia; St. Vincent and the Grenadines; Sudan; Suriname; Syria; Tajikistan; Tanzania; Thailand; Timor-Leste; Togo; Tonga; Trinidad and Tobago; Tunisia; Türkiye; Turkmenistan; Tuvalu; Uganda; Ukraine; United Arab Emirates; Uruguay; Uzbekistan; Vanuatu; Venezuela; Vietnam; West Bank and Gaza; Yemen; Zambia; Zimbabwe
- Regional and subregional groupings (selected listings as presented):
- Asia-Pacific emerging and developing: Bangladesh; Bhutan; Brunei Darussalam; Cambodia; China; Fiji; India; Indonesia; Kiribati; Lao P.D.R.; Malaysia; Maldives; Marshall Islands; Micronesia; Mongolia; Myanmar; Nauru; Nepal; Palau; Papua New Guinea; Philippines; Samoa; Solomon Islands; Sri Lanka; Thailand; Timor-Leste; Tonga; Tuvalu; Vanuatu; Vietnam
- Europe—emerging and developing: Albania; Belarus; Bosnia and Herzegovina; Bulgaria; Hungary; Kosovo; Moldova; Montenegro; North Macedonia; Poland; Romania; Russia; Serbia; Türkiye; Ukraine
- Western Hemisphere—emerging and developing: Antigua and Barbuda; Argentina; Aruba; The Bahamas; Barbados; Belize; Bolivia; Brazil; Chile; Colombia; Costa Rica; Dominica; Dominican Republic; Ecuador; El Salvador; Grenada; Guatemala; Guyana; Haiti; Honduras; Jamaica; Mexico; Nicaragua; Panama; Paraguay; Peru; St. Kitts and Nevis; St. Lucia; St. Vincent and the Grenadines; Suriname; Trinidad and Tobago; Uruguay; Venezuela
- Middle East and Central Asia (selected listing): Afghanistan; Algeria; Armenia; Azerbaijan; Bahrain; Djibouti; Egypt; Georgia; Iran; Iraq; Jordan; Kazakhstan; Kuwait; Kyrgyz Republic; Lebanon; Libya; Mauritania; Morocco; Oman; Pakistan; Qatar; Saudi Arabia; Somalia; Sudan; Syria; Tajikistan; Tunisia; Turkmenistan; United Arab Emirates; Uzbekistan; West Bank and Gaza; Yemen
- Sub-Saharan Africa (selected listing): Angola; Benin; Botswana; Burkina Faso; Burundi; Cabo Verde; Cameroon; Central African Republic; Chad; Comoros; Democratic Republic of the Congo; Republic of Congo; Côte d'Ivoire; Equatorial Guinea; Eritrea; Eswatini; Ethiopia; Gabon; The Gambia; Ghana; Guinea; Guinea-Bissau; Kenya; Lesotho; Liberia; Madagascar; Malawi; Mali; Mauritius; Mozambique; Namibia; Niger; Nigeria; Rwanda; São Tomé and Príncipe; Senegal; Seychelles; Sierra Leone; South Africa; South Sudan; Tanzania; Togo; Uganda; Zambia; Zimbabwe
Content in this bundle
- April 2024 WEO Database - Country Data Documentation (Section 1 & Section 2)