The
World Economic Outlook (WEO) database contains selected macroeconomic data series from the statistical appendix of the
World Economic Outlook report, which presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups and in many individual countries. The WEO is released in April and September/October each year.
April 2025
- For Bolivia, projections for 2027–30 have been omitted because of significant uncertainty regarding the economic outlook.
- For Ecuador, fiscal projections for 2025–30 are excluded from publication because of ongoing program discussions.
October 2024
- Following the recent release of the 2021 survey by the World Bank Group’s International Comparison Program for new purchasing-power-parity benchmarks, the WEO’s estimates of purchasing-power-parity weights and GDP valued at purchasing power parity have been updated. For more details, see Box A2.
- For Bangladesh, fiscal year estimates of real GDP and purchasing-power-parity GDP are now used in country group aggregates.
- For Montenegro, historical data prior to 2023 for population and GDP per capita are excluded from publication pending the final release of population estimates from the 2023 Census of Population, Households, and Dwellings.
- For Zimbabwe, the authorities have recently redenominated their national accounts statistics following the introduction on April 5, 2024 of a new national currency, the Zimbabwe gold, replacing the Zimbabwe dollar. The use of the Zimbabwe dollar ceased on April 30, 2024.
April 2024
- Ecuador’s fiscal sector projections are excluded from publication for 2024–29 because of ongoing program discussions.
- Vietnam has been removed from the Low-Income Developing Countries (LIDCs) group and added to the Emerging Market and Middle-Income Economies (EMMIEs) group (featured in the WEO Report only).
- For West Bank and Gaza, data for 2022-23 previously excluded from publication pending methodological adjustments to statistical series are now included. Projections for 2024-29 are excluded from publication due to the unusually high degree of uncertainty.
October 2023
- Ecuador’s fiscal sector projections, which were previously omitted due to ongoing program discussions, are now included.
- Eritrea’s data and projections for 2020–28 are excluded from the database due to constraints in data reporting.
- Sri Lanka’s projections for 2023–28 are excluded from publication owing to ongoing discussions on sovereign debt restructuring.
- Ukraine’s projections for 2024–28, in line with the program’s baseline scenario, are now included.
- For West Bank and Gaza, certain projections for 2022–28 are excluded from publication pending methodological adjustments to statistical series.
April 2023
- Beginning with the April 2023 WEO, ASEAN-5 comprises the five ASEAN (Association of Southeast Asian Nations) founding member nations: Indonesia, Malaysia, the Philippines, Singapore, and Thailand.
- On January 1, 2023, Croatia became the 20th country to join the euro area. Data for Croatia are now included in aggregates for the euro area and for advanced economies and relevant subgroups.
- For Ecuador, fiscal sector projections are excluded from publication for 2023–28 because of ongoing program discussions.
- For Iran, historical figures of nominal GDP in US dollars are computed using the official exchange rate up to 2017. From 2018 onward, the NIMA exchange rate, rather than the official exchange rate, is now used to convert nominal rial GDP figures into US dollars. Staff assess that the NIMA rate better reflects the transaction-value-weighted exchange rate in the economy over that period of time.
October 2022
- For Algeria, starting with the October 2022 WEO, total government expenditure and net lending/borrowing include net lending by the government, which mostly reflects support to the pension system and other public sector entities.
- Ecuador’s fiscal sector projections, which were previously omitted because of ongoing program review discussions, are now included.
- Tunisia’s forecast data, which were previously omitted because of ongoing technical discussions pending potential program negotiations, are now included.
- Turkey is now referred to as Türkiye.
- For Sri Lanka, certain projections for 2023–27 are excluded from publication owing to ongoing discussions on sovereign debt restructuring, following the recently reached staff-level agreement on an IMF-supported program.
- For Venezuela, following methodological upgrades, historical data have been revised from 2012 onward. Nominal variables that were omitted from publication in the April 2022 WEO are now included.
April 2022
- For Ecuador, fiscal sector projections are excluded from publication for 2022–27 because of ongoing program review discussions.
- Ethiopia’s forecast data, which were previously omitted due to an unusually high degree of uncertainty, are now included.
- Fiji’s fiscal data and forecasts are now presented on a fiscal year basis.
- For Tunisia, projections are excluded from publication for 2023–27 because of ongoing technical discussions pending potential program negotiations.
- For Ukraine, all projections for 2022–27 except Real GDP are omitted due to an unusually high degree of uncertainty. Real GDP is projected through 2022.
- Venezuela redenominated its currency on October 1, 2021, by replacing 1,000,000 bolívares soberano (VES) with 1 bolívar digital (VED).
- For Zambia, general government net and gross debt projections for 2022-27 are omitted due to ongoing debt restructuring.
- Beginning with the April 2022 WEO, the interest rate assumptions are based on the three-month and ten-year government bond yields, which replace the London interbank offered rates. See the Assumptions section of the WEO Statistical Appendix for more details.
October 2021
- Data for Andorra have been added to the database and are included in the advanced economies group composites.
April 2021
- Starting with the April 2021 WEO, real GDP data and forecasts for New Zealand are reported on a production basis rather than an expenditure basis.
October 2020
- Following the recent release of the 2017 International Comparison Program (ICP) survey for new purchasing-power-parity benchmarks, the WEO’s estimates of purchasing-power-parity weights and GDP valued at purchasing power parity have been updated. For more details, see Box 1.1 of the October 2020 WEO.
- Starting with the October 2020 WEO, data and forecasts for Bangladesh and Tonga are presented on a fiscal year basis.
- Data for West Bank and Gaza are now included in the WEO. West Bank and Gaza is added to the Middle East and Central Asia regional group.
April 2020
- Due to the high level of uncertainty in current global economic conditions, the April 2020 WEO database and statistical tables contain only these indicators: real GDP growth, consumer price index, current account balance, unemployment, per capita GDP growth, and fiscal balance. Projections for these indicators are provided only through 2021.
- The Timorese authorities have revised the compilation methodology of GDP and, under the new classification, oil and gas revenue before September 2019, which was previously classified as export in national accounts, is now classified as primary income.
- As of February 1, 2020 the United Kingdom is no longer part of the European Union. Data for the United Kingdom are no longer included in the European Union composites.
October 2019
- Mauritania redenominated its currency in January 2018 by replacing 10 old Mauritanian ouguiya (MRO) with 1 new Mauritanian ouguiya (MRU). Local currency data for Mauritania are expressed in the new currency beginning with the October 2019 WEO database.
- São Tomé and Príncipe redenominated its currency in January 2018 by replacing 1,000 old São Tomé and Príncipe dobra (STD) with 1 new São Tomé and Príncipe dobra (STN). Local currency data for São Tomé and Príncipe are expressed in the new currency beginning with the October 2019 WEO database.
- Beginning with the October 2019 WEO, the regional group Commonwealth of Independent States (CIS) is discontinued. Four of the CIS economies (Belarus, Moldova, Russia, and Ukraine) are added to the regional group Emerging and Developing Europe. The remaining eight economies—Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan, which comprise the regional subgroup Caucasus and Central Asia (CCA)—are combined with Middle East, North Africa, Afghanistan, and Pakistan (MENAP) to form the new regional group Middle East and Central Asia (MECA).
April 2019
- FYR Macedonia is now called North Macedonia.
- In February 2019, Zimbabwe adopted a new local currency unit, the RTGS dollar, which has become the official unit of account. Efforts are underway to revise and update all national accounts series to the new RTGS dollar. Current data are based on IMF staff estimates of price and exchange rate developments in US (and RTGS) dollars. Staff estimates of US dollar values may differ from authorities’ estimates.
October 2018
- Argentina’s consumer prices, which were previously excluded from the group composites because of data con¬straints, are now included starting from 2017 onward.
- Data for Aruba are included in the data aggregated for the emerging market and developing economies. It is classified as a member of the Latin America and Caribbean.
- Egypt’s forecast data from which the nominal exchange rate assumptions are calculated that were previously excluded because the nominal exchange rate was a market-sensitive issue, are now made public.
- Swaziland is now called Eswatini.
- Venezuela redenominated its currency on August 20, 2018, by replacing 100,000 bolívares Fuertes (VEF) with 1 bolívar Soberano (VES). Local currency data, including the historical data, for Venezuela are expressed in the new currency beginning with the October 2018 WEO database.
April 2018
- In the April 2018 WEO, there has been a similar exercise as of October 2017 to improve the net debt data to bring the data into better alignment with the definition of net debt in the IMF GFS Manual 2014 (GFSM 2014).
October 2017
- Data for Somalia have been added to the database—enlarging the database to a total of 193 countries—and are included in the emerging market and developing economies group composites. Somalia is classified as a member of the Middle East and North Africa region.
- Data for Gross Domestic Product per Capita, constant prices (purchasing power parity; 2011 international dollars) have been added to the online database.
- The October 2017 WEO database includes revisions to net and gross debt series for a number of countries. The revisions result from work to better align assets and liabilities included in calculations of net debt to be better aligned with the definition of net debt in the IMF GFS Manual 2014 (GFSM 2014). In particular, for a number of countries, there are changes to the financial assets included in the calculation. For countries where net debt has increased, this has typically been due to the previous inclusion of equity assets in net debt, (e.g. Norway, Finland, Netherlands and Sweden) which have now been excluded. In some cases insufficient assets were being included (e.g. Korea), and once additional financial assets were included this reduced net debt.
April 2017
- From December 2016 to January 2017, the Economic and Social Research Institute (ESRI) of Japan’s Cabinet Office released the results of the latest quinquennial benchmark year revision for the Japanese National Accounts. This comprehensive revision consisted of (i) incorporating large-scale, detailed source statistics, including the compilation of the 2011 Input-Output Tables; (ii) updating the reference year from 2005 to 2011; (iii) improving several estimation methodologies, including for measuring construction output; and (iv) updating definitions and classifications, in particular, implementing the 2008 System of National Accounts (2008 SNA). With this revision, the Japanese national accounts describe more accurately the evolution of the economy. The most significant change resulted from the implementation of the 2008 SNA. For instance, for the past three years (2013-15), the level of nominal GDP was revised upward by 5.0–6.3 percent, of which 4.3–4.8 percent was accounted for by the implementation of the 2008 SNA, including capitalization of research and development. The increase in GDP for the most recent year (2015) resulted not only from the benchmark year revision, but also from the incorporation of more detailed source statistics. Real GDP growth rates were also revised retrospectively. The mean absolute revision for the past 21 years (1995–2015) was relatively modest (0.4 percentage point), while the growth rates for the past three years were revised upward by 0.4–0.6 percentage point. The revisions of the annual rate of change of the GDP deflator were relatively limited, with a mean absolute revision of 0.1 percentage point, and do not change significantly the evolution of prices previously published for Japan.
- Nauru is the latest country added to the WEO data-base, expanding it to a total of 192 countries. Data for Nauru are included in the emerging market and developing economies group composites. Nauru is classified as a member of the Emerging and Developing Asia.
- Belarus redenominated its currency by replacing 10,000 old Belarusian rubles with 1 new Belarusian ruble. Local currency data for Belarus are expressed in the new currency starting with the April 2017 WEO database.
October 2016
- No changes have been introduced for the October 2016 World Economic Outlook
April 2016
- Data for Macao Special Administrative Region and the Commonwealth of Puerto Rico are included in data aggregated for the advanced economies. Macao is a Special Administrative Region of China, and Puerto Rico is a territory of the United States, but the WEO maintains statistical data for both economies on a separate and independent basis.
- Argentina’s and Venezuela’s consumer prices are excluded from all the WEO groups’ aggregates.
- As in the October 2015 WEO, data for Syria are excluded from 2011 onward because of the ongoing conflict and the related lack of data.
October 2015
- Data for Lithuania are now included in the euro area aggregates, but they were excluded in the April 2015 WEO.
- Projections for Greece are based on data available as of August 12, 2015
- As in the April 2015 WEO, data for Syria are excluded from 2011 because of the ongoing conflict and related lack of data.
- Argentina’s consumer prices are excluded from Latin America and the Caribbean aggregates.
April 2015
- On January 1, 2015, Lithuania became the 19th country to join the euro area. Data for Lithuania are not included in the euro area aggregates because Eurostat has not fully released the consolidated data for the group, but the data are included in the advanced economies and subgroups aggregated by the WEO.
- As in the October 2014 WEO, data for Syria are excluded from 2011 onward because of the uncertain political situation.
- As in the October 2014 WEO, the consumer price projections for Argentina are excluded because of a structural break in the data. Please refer to note 6 in Table A7 for further details.
- Because of the ongoing IMF program with Pakistan, the series from which nominal exchange rate assumptions are calculated are not made public—the nominal exchange rate is a market-sensitive issue in Pakistan.
- The series from which the nominal exchange rate assumptions are calculated are not made public for Egypt because the nominal exchange rate is a market-sensitive issue in Egypt.
October 2014
- The WEO has adopted the sixth edition of the Balance of Payments Manual and International Investment Position Manual (BPM6). Notable changes include the following: (1) Merchanting has been reclassified from services to exports of goods. (2) Manufacturing services on physical inputs owned by others (goods for processing in the BPM5) and maintenance and repair services (repairs on goods in the BPM5) have been reclassified from goods to services. (3) Migrants’ transfers have been removed from capital transfers in the capital account because a change in ownership is no longer imputed. (4) Reverse investment in direct investment has been reclassified so as to present assets and liabilities on a gross basis. (5) A separate financial derivatives category is now included in the financial account, whereas previously it was a subitem under portfolio investment. In addition, the conventional sign for increases in assets (and liabilities) within the financial account is now positive, and balances are now computed as net acquisition of financial assets minus net incurrence of financial liabilities.
- With the adoption of the BPM6, the WEO online database now includes, where available, the current account balance, imports of goods and services, exports of goods and services, financial account balance, net direct investment, net portfolio investment, net financial derivatives, net other investment, and change in reserves series for all country groups. Subsequently, the private financial flows series that were available in the previous versions of the WEO online database have been removed.
- Not all countries have converted to the BPM6 standard and a few still use versions older than the BPM5. Historical data are subject to change when countries adopt the latest standard. During this transition period, some country groups’ aggregates are not available. Please refer to Table G in the WEO's Statistical Appendix, which lists the Balance of Paymentsstatistical standard for each country.
- Following the recent release of the 2011 International Comparison Program (ICP) survey for new purchasing-power-parity benchmarks, the WEO’s estimates of purchasing-power-parity weights and GDP valued at purchasing power parity have been updated. For more detail, see “Revised Purchasing Power Parity Weights” in the July 2014 WEO Update.
- As in the April 2014 WEO, data for Syria are excluded from 2011 onward because of the uncertain political situation.
- Because of the ongoing IMF program with Pakistan, the series from which the nominal exchange rate assumptions can be calculated are not made public, as the nominal exchange rate is a market-sensitive issue in Pakistan.
- Data for Latvia, which were previously excluded from the euro area aggregates because of data constraints, are now included.
- Projections for Ukraine, which were previously excluded because of the crisis, are once again included.
- As in the April 2014 WEO, the consumer price projections for Argentina are excluded because of a structural break in the data. Please refer to note 5 in Table A7 of the October 2014 WEO Statistical Appendix for further details.
April 2014
- On January 1, 2014, Latvia became the 18th country to join the euro area. Data for Latvia are not included in the euro area aggregates, because the database has not yet been converted to euros, but are included in data aggregated for advanced economies.
- Starting with the April 2014 WEO, the Central and Eastern Europe and Emerging Europe regions have been renamed Emerging and Developing Europe. The Developing Asia region has been renamed Emerging and Developing Asia.
- Projections for Ukraine are excluded due to the ongoing crisis.
- The consumer price projections for Argentina are excluded because of a structural break in the data. Please refer to note 6 in Table A7 of the April 2014 WEO for further details.
- Korea’s real GDP series is based on the reference year 2005. This does not reflect the revised national accounts released on March 26, 2014, after the WEO was finalized for publication. These comprehensive revisions include implementing the 2008 System of National Accounts and updating the reference year to 2010. As a result of these revisions, real GDP growth in 2013 was revised up to 3 percent from 2.8 percent (which is the figure included in Tables 2.3 and A2 of the April 2014 WEO).
- Cape Verde is now called Cabo Verde.
- As in the October 2013 WEO, data for Syria are excluded for 2011 onward because of the uncertain political situation.
October 2013
- On July 31, 2013, the U.S. Bureau of Economic Analysis released the Comprehensive Revision of the National Income and Product Accounts (NIPA). The revision includes improvements in methodology and data sources as well as significant changes in definitions and classifications. With this update, the accounts more accurately portray the evolution of the economy. Most notably, expenditures on research and development activities and for the creation of entertainment, literary, and artistic originals are now treated as capital expenditures. Furthermore, the treatment of defined-benefit pension plans is 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. The revised data also show that the Great Recession was shallower and the recovery was stronger through the first half of 2012, but also that cyclical weakness was greater during the past year. Overall, the revision does not significantly change the IMF staff’s broad view on the U.S. economic outlook.
- 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.
- 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.
April 2013
- Projections for Cyprus are excluded due to the ongoing crisis.
- Mongolia is classified as Developing Asia (previously classified as a member of the Commonwealth of Independent States).
- Afghanistan and Pakistan, previously classified as Developing Asia, have been added to the Middle East and North Africa (MENA) to create the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region. The MENA aggregate (excluding Afghanistan and Pakistan) will be maintained.
- Data for the Marshall Islands and Micronesia are now included in the Developing Asia region.
- As in the October 2012 World Economic Outlook, data for Syria are excluded for 2011 onward due to the uncertain political situation.
- Starting with the April 2013 World Economic Outlook, the Newly Industrialized Asian Economies (NIEs) grouping has been eliminated.
October 2012
- For Cyprus, data reflect a passive scenario based on implementation of approved policies only. It is also assumed that the government will be able to roll over its debt and finance its deficit at a reasonable cost over the medium term and that banks will achieve adequate capitalization without government assistance.
- Data for South Sudan are now included in the Emerging Market and Developing Economies classification and more specifically, in the sub-Saharan Africa.
- Data for San Marino are now included in the advanced economy classification.
- As in the April 2012 World Economic Outlook, data for Syria are excluded for 2011 and later due to the uncertain political situation.
- Starting with the October 2012 World Economic Outlook, the label for the Emerging and Developing Economies group is Emerging Market and Developing Economies. The member countries remain unchanged with the exception of South Sudan as a new member of the group.
April 2012
- As in the September 2011 World Economic Outlook, fiscal and external debt data for Libya are excluded for 2011 and later due to the uncertain political situation.
- As in the September 2011 World Economic Outlook, Sudan's data for 2011 exclude South Sudan after July 9. Projections for 2012 and onward pertain to the current Sudan.
- Data for the Syrian Arab Republic are excluded for 2011 and onward due to the uncertain political situation.
September 2011
- Data for Estonia are now included in the euro area.
- As in the April 2011 World Economic Outlook, WEO aggregated data exclude Libya for the projection years due to the uncertain political situation.
- For Sudan, the projections for 2011 and later exclude South Sudan.
April 2011
- On January 1, 2011, Estonia became the 17th country to join the euro area. Data for Estonia are not included in the euro area aggregates because the database has not yet been converted to Euros but are included in data aggregated for advanced economies.
- Investment, gross national savings, general government structural balance, export volume of goods are services, export volume of goods, import volume of goods and services, import volume of goods, and the value of exports and imports of oil, where available, are now published for all countries.
- The country group composites for fiscal data are calculated as the sum of the U.S dollar values for the relevant individual countries. This differs from the calculations in the October 2010 and earlier issues of the World Economic Outlook, for which the composites were weighted by GDP valued at purchasing power parities (PPPs) as a share of total world GDP.
- Starting with the April 2011 World Economic Outlook, the data for Tuvalu are included in the emerging and developing economy aggregates.
- WEO aggregated data excludes Libya for projection years due to the uncertain political situation.
- Except for GDP growth and inflation, projections for Côte d'Ivoire are not shown due to the uncertain political situation.
October 2010
- The emerging and developing economies' Western Hemisphere region has been renamed Latin America and the Caribbean (LAC).
- Country weights calculated as nominal GDP valued at purchasing-power-parity (PPP) exchange rates as a share of total world GDP have been updated to reflect revisions to countries' historical GDP data and projections.
- Unless noted otherwise, group composites are computed if 90 percent or more of the share of group weights is represented.
- Data for Kosovo are included in the emerging and developing economies aggregates.
- Unemployment rates and general government series for revenue, total expenditure, net lending/borrowing, primary net lending/borrowing, gross debt, and net debt, where available, are now published for all countries.
- The local currency data for Suriname are expressed in the new currency. In 2004, Suriname redenominated its currency by replacing 1,000 Surinamese guilder with 1 Surinamese dollar.
April 2010
- Algeria, Djibouti, Mauritania, Morocco, Sudan, and Tunisia, previously classified as members of the Africa region, have been added to the former Middle East region to create the Middle East and North Africa (MENA) region. Accordingly, the former Africa region is replaced by Sub-Saharan Africa (SSA).
- Following the IMF's Government Finance Statistics Manual 2001, the government balance is now called net lending(+)/borrowing(–), which is calculated as revenue minus expenditure. Not all countries have adopted the new presentation; for those, net lending/borrowing is the previous calculation of total revenue and grants minus total expenditure and net lending.
- GDP corresponding to fiscal year has been added to the database.
- Country weights calculated as nominal GDP valued at purchasing-power-parity (PPP) exchange rates as a share of total world GDP are updated to reflect revisions to countries' GDP data.
- Data for Kosovo are now included for GDP, consumer prices, and current account balance, but are omitted from the country group composites because of data limitations.
- Ghana redenominated its currency in July 2007 by replacing 10,000 cedis with 1 Ghana cedi. Local currency data for Ghana are expressed in the new currency beginning with the April 2010 WEO database.
- Mozambique redenominated its currency in July 2006 by replacing 1,000 old meticais with 1 new metical. Local currency data for Mozambique are expressed in the new currency beginning with the April 2010 WEO database.
- Venezuela redenominated its currency in January 2008 by replacing 1,000 bolívares with 1 bolívar fuerte. Local currency data for Venezuela are expressed in the new currency beginning with the April 2010 WEO database.
October 2009
- Starting with the October 2009 World Economic Outlook, the Islamic Republic of Afghanistan, Bosnia and Herzegovina, Brunei Darussalam, Eritrea, Iraq, Liberia, Montenegro, Serbia, and Timor-Leste are included in the regional and analytical group compositions.
- Zimbabwe has been returned to the group compositions as a result of recent price stabilization, which facilitates the measurement of macroeconomic variables and allows for cross-country data comparisons.
- The Zimbabwe dollar ceased circulating in early 2009. Data are based on staff estimates of price and exchange rate developments in U.S. dollars.
- Georgia officially withdrew from the Commonwealth of Independent States on August 18, 2009, but is included in the Commonwealth of Independent States group for reasons of geography and similarities in economic structure.
- Singapore now reports chain-weighted national account data.
- Capital flows are now referred to as financial flows.
- Government finance data and the output gap for G7 economies and the euro area group are shown through 2014.
April 2009
- Country weights, calculated as nominal GDP at purchasing-power-parity exchange rates in percent of the global GDP, have been updated to reflect revisions to nominal GDP.
- On January 1, 2009, Slovak Republic became the sixteenth country to join the euro area. Additionally, Czech Republic and Slovak Republic are now included in the advanced economies group.
- Data for Iraq are now included.
- Guatemala, Israel, Korea, and Slovak Republic now report chain-weighted national accounts data.
- On January 1, 2009, the Central Bank of Turkmenistan redenominated its currency by transforming 5,000 units of old manats into one unit of new manat.
October 2008
- The following countries now report chain-weighted national accounts data: Bulgaria, Estonia, and Hong Kong SAR.
April 2008
- Country weights used to construct aggregate data for groups of countries were revised to incorporate updated PPP exchange rates released by the World Bank.
- Data is now available through 2013 for selected indicators.
- On January 1, 2008, Cyprus and Malta joined the euro area. Additionally, Malta is now included in the advanced economies group.
- Data for the Republic of Montenegro are now included.
- Other emerging market and developing countries has been renamed Emerging and developing economies.
- ASEAN-5 replaces ASEAN-4 with the addition of Vietnam.
- Zimbabwe has been excluded from aggregated country group data.
- Commodity price indices have been revised, and are now constructed using updated weights based on 2002-04 world trade data and a new base year of 2005. Please see the Energy and Commodities Surveillance Unit website for more details.
October 2007
- Given recent trends, except for GDP in constant prices, it is not possible to forecast Zimbabwe's data with any precision for 2008. For country group consistency, Zimbabwe's data are excluded from relevant aggregated data.
- Sudan redenominated its currency by transforming 100 units of Sudanese dinar into one unit of Sudanese pound.
- The following countries now report chain-weighted national accounts data: Cyprus, France, and Malta.
- Data for end-of-period Consumer Price Index for all countries and Employment for advanced economies have been added to the WEO database.
April 2007
- On January 1, 2007, Slovenia became the 13th country to join the euro area, and is now included in the advanced economy group.
- Also on January 1, 2007, Bulgaria and Romania became members of the European Union, enlarging the group to a total of 27 countries.
- Netherlands Antilles has been excluded from the World Economic Outlook database following the decision by its five constituent islands to abandon the federation and will cease to exist in July 2007.
- The purchasing power parity (PPP) weights have been updated to reflect the most up-to-date PPP conversion factor provided by the World Bank.
- All Zimbabwe data in terms of national currency have been redenominated by a rate of 1:1,000.
September 2006
- Data notes at the country, subject, and series levels are now made available for the WEO online database. These notes can be view by either hovering the mouse over or clicking on the
- Population projections are now included for all countries.
- Data for Liberia are included.
- Following the declaration of independence from Serbia by Montenegro, it has been determined that Serbia is the continuing state of the former state union of "Serbia and Montenegro" and that Montenegro has seceded as a new independent state.
- Azerbaijan redenominated its currency by transforming 5,000 units of old manat (AZM) into one unit of new manat (AZN).
April 2006
- The country composition of the fuel-exporting group has been revised to reflect the periodic update of the classification criteria.
- The purchasing-power-parity (PPP) weights have been updated to reflect the most up-to-date PPP conversion factor provided by the World Bank.
- The primary commodity indices are included in the WEO database.
- Romania redenominated its currency by transforming 10,000 units of old Lei into one unit of new Leu.
- Turkey revalued its currency by dropping six zeros from the old Lira. The new Turkish Lira (Yeni Türk Lirasi) became the new currency unit of Turkey.
September 2005
- The country group composites for Savings and Investment are calculated as the sum of the U.S dollar values for the relevant individual countries. This differs from the calculations in the April 2005 and earlier World Economic Outlooks, where the composites were weighted by GDP valued at purchasing power parities (PPPs) as a share of total world GDP.
- The Malagasy franc replaced the ariary as Madagascar’s currency, on January 1, 2005. One Malagasy franc was valued at 0.2 ariarys.
April 2005
- Data for Afghanistan are included.
- The base year for time series expressed in index form has been re-indexed to 2000.
- El Salvador currency has been changed to dollar.
- London Interbank Offered Rate (LIBOR) series are included for euro area, Japan and the United states.
- The purchasing power parity (PPP) weights have been updated to reflect the most up-to-date PPP conversion factor provided by the World Bank.
September 2004
The European Union added 10 new member nations on May 1, 2004, enlarging the group to a total of 25 countries. The new members are Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovak Republic, and Slovenia.
April 2004
- The former three-way split of the world (advanced economies, developing countries, and countries in transition) has been revised to classify countries into two categories: “advanced economies” and “other emerging market and developing countries.” The analytical groups now comprise all countries from the former developing and transition groups. See the introduction to the Statistical Appendix for additional details.
- Turkey and Malta are now included in Central and Eastern Europe.
- Timor-Leste, Dem. Rep. of is now included in the WEO database.
- Current account balance projections are now included for all countries.
- The purchasing power parity (PPP) weights have been updated to reflect the new price surveys using the new benchmark year of 2000. See Box A2 for additional details.
September 2003
No changes were introduced.
April 2003
Growth and inflation projections for Serbia and Montenegro are included.
September 2002
Growth and inflation projections are included for all countries through 2003.
May 2002
Middle East, Malta, and Turkey is replaced by the title “Middle East and Turkey.” The country composition remains the same.
December 2001
No changes were introduced.
October 2001
No changes were introduced.
May 2001
- Greece is included in the euro area.
- Cyprus is included in Advanced Economies. It was previously included in Middle East and Europeunder Developing Countries.
- Asiais replaced by the title Developing Asia. There is no difference in the composition of the group.
- Middle East and Europeis replaced by the title Middle East and Turkey. Cyprus is no longer included in the group.
- Two new subgroups comprise Countries in Transition. Commonwealth of Independent States and Mongoliareplaces Trancaucasus and central Asia and the composition of Central and Eastern Europe has changed: the group no longer includes Moldova and Ukraine. Please refer to the introduction to the Statistical Appendix for details on WEO regional and analytical groups.
- Queries about the WEO database should be sent to the e-mail address weo@imf.org
