World Economic Outlook Database October 2013
World Economic Outlook
Source details
- Canonical URL
- World Economic Outlook Database October 2013
Other formats
Bibliographic details
- Authors: Country Groups
Overview
- The World Economic Outlook (WEO) database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report.
- The WEO presents IMF staff analysis and projections of economic developments at the global level, in major country groups, and for many individual countries.
- The WEO is released in April and September/October each year.
Data coverage and availability
- Data series include national accounts, inflation, unemployment rates, balance of payments, fiscal indicators, trade, and commodity prices as reported to the IMF.
- Data are available from 1980 to the present, with projections given for the next two years.
- Additionally, medium-term projections are available for selected indicators.
- For some countries, data are incomplete or unavailable for certain years.
- The World Economic Outlook on Google Public Data Explorer offers select indicators from the latest online WEO database, such as GDP growth and inflation.
Changes and methodological updates reflected in the October 2013 database
- On July 31, 2013, the U.S. Bureau of Economic Analysis released the Comprehensive Revision of the National Income and Product Accounts (NIPA). Key outcomes incorporated into the WEO database:
- Expenditures on research and development activities and for the creation of entertainment, literary, and artistic originals are now treated as capital expenditures.
- Treatment of defined-benefit pension plans was switched from a cash basis to an accrual basis.
- The revisions increase the level of GDP by 3.4 percent and boost the personal savings rate.
- Revised U.S. data show the Great Recession was shallower and the recovery was stronger through the first half of 2012, but cyclical weakness was greater during the past year.
- The revisions do not significantly change the IMF staff’s broad view on the U.S. economic outlook.
Country-specific adjustments and classification changes
- Starting with the July 2013 WEO Update, India's data and forecasts are presented on a fiscal year basis.
- On July 1, 2013, Croatia became the 28th member state of the European Union.
- Projections for Cyprus, which were excluded in April 2013 due to the crisis, are once again included.
- As in the April 2013 World Economic Outlook, data for Syria are excluded for 2011 onward due to the uncertain political situation.
- Data for Palau are now included in the Developing Asia region.
- Zambia redenominated its currency by replacing 1,000 old Zambian kwacha notes with 1 new Zambian kwa¬cha note; local currency data for Zambia are expressed in the new currency starting with the October 2013 WEO database.
Data series removals
- Starting with the October 2013 WEO, the Value of oil imports (TMGO) and Value of oil exports (TXGO) countries’ data will no longer be available in the external WEO Database.