{
  "title": "World Economic Outlook Database - Groups and Aggregates",
  "publication": "World Economic Outlook",
  "sourceUrl": "https://www.imf.org/en/publications/weo/weo-database/2023/april/groups-and-aggregates",
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  "summary": "Please refer to the introduction to the WEO's Statistical Appendix for details.",
  "sections": [
    {
      "heading": "Country classification",
      "content": "- The World Economic Outlook divides the world into two major groups: advanced economies and emerging and developing economies.\n- The classification is not based on strict criteria and has evolved over time; the objective is to facilitate analysis by providing a reasonably meaningful method of organizing data.\n- Some countries remain outside the country classification and therefore are not included in the analysis. Examples given are Cuba and the Democratic People’s Republic of Korea."
    },
    {
      "heading": "Aggregation methods — general rules",
      "content": "- Composite data for country groups are either sums or weighted averages of data for individual countries.\n- 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.\n- Unless noted otherwise, group composites are computed if 90 percent or more of the share of group weights is represented."
    },
    {
      "heading": "Aggregation conventions by data type",
      "content": "- Domestic-economy data (growth rates or ratios): weighted by GDP valued at purchasing power parity as a share of total world or group GDP.\n- Annual inflation rates:\n  - Simple percentage changes from the previous years for most groups.\n  - For emerging market and developing economies, rates are based on logarithmic differences.\n- Real GDP per capita in purchasing power parity terms: sums of individual country data after conversion to the international dollar in the years indicated.\n- Sectors for the euro area: composites are corrected for reporting discrepancies in intra-area transactions unless noted otherwise.\n- Annual GDP data:\n  - Unadjusted annual GDP data are used for the euro area and for the majority of individual countries.\n  - Cyprus, Ireland, Portugal, and Spain report calendar-adjusted data (exception to unadjusted rule).\n  - For data prior to 1999, data aggregations apply 1995 European currency unit exchange rates.\n- Fiscal data composites: sums of individual country data after conversion to US dollars at the average market exchange rates in the years indicated.\n- Composite unemployment rates and employment growth: weighted by labor force as a share of group labor force.\n- External sector statistics:\n  - 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.\n  - For debt denominated in currencies other than US dollars, conversions use end-of-year market exchange rates.\n- Foreign trade volumes and prices: 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)."
    },
    {
      "heading": "Country group listings (as provided)",
      "content": "- The source provides detailed country compositions for the classified groups, listing numerous economies under the advanced-economies and emerging-and-developing-economies headings, and further regional and subgroup breakdowns."
    }
  ],
  "bullets": [
    "The World Economic Outlook divides the world into two major groups: advanced economies and emerging and developing economies.",
    "The classification is not based on strict criteria and has evolved over time; the objective is to facilitate analysis by providing a reasonably meaningful method of organizing data.",
    "Some countries remain outside the country classification and therefore are not included in the analysis. Examples given are Cuba and the Democratic People’s Republic of Korea.",
    "Composite data for country groups 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.",
    "Domestic-economy data (growth rates or ratios): weighted by GDP valued at purchasing power parity as a share of total world or group GDP.",
    "Annual inflation rates:",
    "Real GDP per capita in purchasing power parity terms: sums of individual country data after conversion to the international dollar in the years indicated.",
    "Sectors for the euro area: composites are corrected for reporting discrepancies in intra-area transactions unless noted otherwise.",
    "Annual GDP data:",
    "Fiscal data composites: sums of individual country data after conversion to US dollars at the average market exchange rates in the years indicated.",
    "Composite unemployment rates and employment growth: weighted by labor force as a share of group labor force.",
    "External sector statistics:",
    "Foreign trade volumes and prices: 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).",
    "The source provides detailed country compositions for the classified groups, listing numerous economies under the advanced-economies and emerging-and-developing-economies headings, and further regional and subgroup breakdowns.",
    "**Country Information**"
  ],
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  "generatedAtUtc": "2026-10-01T03:13:24.887Z"
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