## World Economic Outlook Database - Groups and Aggregates

_World Economic Outlook_

## Source details

**Canonical URL:** [World Economic Outlook Database - Groups and Aggregates](https://www.imf.org/en/publications/weo/weo-database/2023/april/groups-and-aggregates)

## Other formats

- [Markdown version](/en/publications/weo/weo-database/2023/april/groups-and-aggregates/index.md)
- [Structured JSON version](/en/publications/weo/weo-database/2023/april/groups-and-aggregates/index.json)
- [Bundle manifest](/en/publications/weo/weo-database/2023/april/groups-and-aggregates/bundle-manifest.json)

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### Country classification
- 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.

### Aggregation methods — general rules
- 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.

### Aggregation conventions by data type
- 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:
  - Simple percentage changes from the previous years for most groups.
  - For emerging market and developing economies, rates are based on logarithmic differences.
- 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:
  - Unadjusted annual GDP data are used for the euro area and for the majority of individual countries.
  - Cyprus, Ireland, Portugal, and Spain report calendar-adjusted data (exception to unadjusted rule).
  - For data prior to 1999, data aggregations apply 1995 European currency unit exchange rates.
- 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:
  - 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.
  - For debt denominated in currencies other than US dollars, conversions use end-of-year market exchange rates.
- 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).

### Country group listings (as provided)
- 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.

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## Content in this bundle

- **Country Information**
  - [Country Information (Markdown version)](/-/media/files/publications/weo/weo-database/2023/april/country-information.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Information (PDF)](/-/media/files/publications/weo/weo-database/2023/april/country-information.pdf){rel="external" type="application/pdf"}

---

## References

- [World Economic Outlook, April 2023](https://www.imf.org/en/Publications/WEO/Issues/2023/04/11/world-economic-outlook-april-2023)
- [World Economic Outlook Database, April 2023](https://www.imf.org/en/publications/weo/weo-database/2023/april)
- [Changes to the Database](https://www.imf.org/en/publications/weo/weo-database/changes)
- [Assumptions and Data Conventions](https://www.imf.org/en/publications/weo/weo-database/assumptions-and-data-conventions)
- [Frequently Asked Questions: WEO](https://www.imf.org/en/publications/weo/frequently-asked-questions)

_Source: https://www.imf.org/en/publications/weo/weo-database/2023/april/groups-and-aggregates_