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Statistical annex

Country classifications

Data sources, country classifications and aggregation methodology The statistical annex contains a set of data that the World Economic Situation and

Prospects (WESP) employs to delineate trends in various dimensions of the world economy.

Data sources The annex was prepared by the Economic Analysis and Policy Division (EAPD) of the De- partment of Economic and Social Affairs of the United Nations Secretariat (UN/DESA). It is based on information obtained from the Statistics Division and the Population Division of UN/DESA, as well as from the five United Nations regional commissions, the United Nations Conference on Trade and Development (UNCTAD), the United Nations World Tourism Organization (UNWTO), the International Monetary Fund (IMF), the World Bank, the Organization for Economic Cooperation and Development (OECD), and na- tional and private sources. Estimates for the most recent years were made by EAPD in consultation with the regional commissions, UNCTAD, UNWTO and participants in Project LINK, an international collaborative research group for econometric modelling coordinated jointly by EAPD and the University of Toronto. Forecasts for 2019 and 2020 are primarily based on the World Economic Forecasting Model of EAPD, with support from Project LINK.

Data presented in WESP may differ from those published by other organizations for a series of reasons, including differences in timing, sample composition and aggregation methods. Historical data may differ from those in previous editions of WESP because of updating and changes in the availability of data for individual countries.

Country classifications For analytical purposes, WESP classifies all countries of the world into one of three broad categories: developed economies, economies in transition and developing economies. The composition of these groupings, specified in tables A, B and C, is intended to reflect basic economic country conditions. Several countries (in particular the economies in transition) have characteristics that could place them in more than one category; however, for purposes of analysis, the groupings have been made mutually exclusive. Within each broad category, some subgroups are defined based either on geographical location or on ad hoc criteria, such as the subgroup of “major developed economies”, which is based on the membership of the Group of Seven. Geographical regions for developing economies are as follows: Africa, East Asia, South Asia, Western Asia, and Latin America and the Caribbean.1

1 Names and composition of geographical areas follow those specified in the statistical paper entitled “Standard country or area codes for statistical use” (ST/ESA/STAT/SER.M/49/Rev). Available from https://unstats.un.org/unsd/publication/SeriesM/Series_M49_Rev4(1999)_en.pdf.

168 World Economic Situation and Prospects 2019

In parts of the analysis, a distinction is made between fuel exporters and fuel import- ers from among the economies in transition and the developing countries. An economy is classified as a fuel exporter if the share of fuel exports in its total merchandise exports is greater than 20 per cent and the level of fuel exports is at least 20 per cent higher than that of the country’s fuel imports (table D). This criterion is drawn from the share of fuel exports in the total value of world merchandise trade. Fuels include coal, oil and natural gas.

For other parts of the analysis, countries have been classified by their level of develop- ment as measured by per capita gross national income (GNI). Accordingly, countries have been grouped as high-income, upper-middle-income, lower-middle-income and low-income (table E). To maintain compatibility with similar classifications used elsewhere, the thresh- old levels of GNI per capita are those established by the World Bank. Countries with less than $995 GNI per capita are classified as low-income countries, those with between $996 and $3,895 as lower-middle-income countries, those with between $3,896 and $12,055 as upper-middle-income countries, and those with incomes of more than $12, 056 as high-in- come countries. GNI per capita in dollar terms is estimated using the World Bank Atlas method,2 and the classification in table E is based on data for 2017.

The list of the least developed countries (LDCs) is decided upon by the United Nations Economic and Social Council and, ultimately, by the General Assembly, on the basis of recommendations made by the Committee for Development Policy. The basic cri- teria for inclusion require that certain thresholds be met with regard to per capita GNI, a human assets index and an economic vulnerability index.3 As of March 2018, there were 47 LDCs (table F).

WESP also makes reference to the group of heavily indebted poor countries (HIPCs), which are considered by the World Bank and IMF as part of their debt-relief initiative (the Enhanced HIPC Initiative).4 In October 2017, there were 39 HIPCs (see table G).

Aggregation methodology Aggregate data are either sums or weighted averages of individual country data. Unless

otherwise indicated, multi-year averages of growth rates are expressed as compound annual percentage rates of change. The convention followed is to omit the base year in a multi-year growth rate. For example, the 10-year average growth rate for the decade of the 2000s would be identified as the average annual growth rate for the period from 2001 to 2010.

WESP utilizes exchange-rate conversions of national data in order to aggregate output of individual countries into regional and global totals. The growth of output in each group of countries is calculated from the sum of gross domestic product (GDP) of individual countries measured at 2012 prices and exchange rates. Data for GDP in 2012 in national currencies were converted into dollars (with selected adjustments) and extended forwards and backwards in time using changes in real GDP for each country. This method supplies a reasonable set of aggregate growth rates for a period of about 15 years, centred on 2012.

2 See http://data.worldbank.org/about/country-classifications. 3 Handbook on the Least Developed Country Category: Inclusion, Graduation and Special Support Measures

(United Nations publication, Sales No. E.07.II.A.9). Available from http://www.un.org/en/develop- ment/desa/policy/cdp/cdp_publications/2008cdphandbook.pdf.

4 International Monetary Fund, Debt Relief Under the Heavily Indebted Poor Countries (HIPC) Initiative. Available from https://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/16/11/Debt- Relief- Under-the-Heavily-Indebted-Poor-Countries-Initiative.

169Country classification

Table A Developed economies

North America

Europe Major developed economies (G7)European Union Other Europe

Canada United States

EU-15 Austriaa

Belgiuma

Denmark Finlanda

Francea

Germanya

Greecea

Irelanda

Italya

Luxembourga

Netherlandsa

Portugala

Spaina

Sweden United Kingdomb

EU-13c

Bulgaria Croatia Cyprusa

Czech Republic Estoniaa

Hungary Latviaa

Lithuaniaa

Maltaa

Poland Romania Slovakiaa

Sloveniaa

Iceland Norway Switzerland

Canada Japan France Germany Italy United Kingdom United States

Developed Asia and Pacific

Australia Japan New Zealand

The exchange-rate-based method differs from the one mainly applied by the IMF for their estimates of world and regional economic growth, which is based on purchasing power parity (PPP) weights. Over the past two decades, the growth of world gross product (WGP) on the basis of the exchange-rate-based approach has been below that based on PPP weights. This is because developing countries, in the aggregate, have seen significantly higher economic growth than the rest of the world in the 1990s and 2000s and the share in WGP of these countries is larger under PPP measurements than under market exchange rates. Table I.1 in chapter I reports world output growth with PPP weights as a comparator.

a Member of Euro area. b At the time of publishing, the United Kingdom was a member of the EU and is therefore is included in all EU aggregations. The country is scheduled to withdraw from the EU at the end of March 2019. c Used in reference to the 13 countries that joined the EU since 2004.

Table B Economies in transition

South-Eastern Europe Commonwealth of Independent States and Georgiaa

Albania Bosnia and Herzegovina Montenegro Serbia The former Yugoslav Republic

of Macedonia

Armenia Azerbaijan Belarus Georgiaa

Kazakhstan Kyrgyzstan

Republic of Moldova Russian Federation Tajikistan Turkmenistan Ukraineb

Uzbekistan

a Georgia officially left the Commonwealth of Independent States on 18 August 2009. However, its performance is discussed in the context of this group of countries for reasons of geographic proximity and similarities in economic structure. b Starting in 2010, data for the Ukraine excludes the temporarily occupied territory of the Autonomous Republic of Crimea and Sevastopol.

170 World Economic Situation and Prospects 2019

a Economies systematically monitored by the Global

Economic Monitoring Branch of EAPD.

b Throughout the report the term ‘East Asia’ is used

in reference to this set of developing countries, and

excludes Japan.

c The country coverage in WESP 2019 was expanded to include

South Sudan, State of Palestine and Democratic People’s

Republic of Korea.

d Special Administrative Region of China.

Table C Developing economies by regiona

Africa Asia Latin America

and the Caribbean

North Africa

Algeria Egypt Libya Mauritania Morocco Sudan Tunisia

Central Africa

Cameroon Central African

Republic Chad Congo Equatorial Guinea Gabon Sao Tome and

Prinicipe

East Africa

Burundi Comoros Democratic Republic

of the Congo Djibouti Eritrea Ethiopia Kenya Madagascar Rwanda Somalia South Sudanc

Uganda United Republic

of Tanzania

Southern Africa

Angola Botswana Eswatini Lesotho Malawi Mauritius Mozambique Namibia South Africa Zambia Zimbabwe

West Africa

Benin Burkina Faso Cabo Verde Côte d’Ivoire Gambia (Islamic

Republic of the) Ghana Guinea Guinea-Bissau Liberia Mali Niger Nigeria Senegal Sierra Leone Togo

East Asiab

Brunei Darussalam Cambodia China Democratic People’s

Republic of Koreac

Fiji Hong Kong SARd

Indonesia Kiribati Lao People’s Democratic

Republic Malaysia Mongolia Myanmar Papua New Guinea Philippines Republic of Korea Samoa Singapore Solomon Islands Taiwan Province of China Thailand Timor-Leste Vanuatu Viet Nam

South Asia

Afghanistan Bangladesh Bhutan India Iran (Islamic Republic of) Maldives Nepal Pakistan Sri Lanka

Western Asia

Bahrain Iraq Israel Jordan Kuwait Lebanon Oman Qatar Saudi Arabia State of Palestinec

Syrian Arab Republic Turkey United Arab Emirates Yemen

Caribbean

Bahamas Barbados Belize Guyana Jamaica Suriname Trinidad and Tobago

Mexico and Central America

Costa Rica Cuba Dominican Republic El Salvador Guatemala Haiti Honduras Mexico Nicaragua Panama

South America

Argentina Bolivia (Plurinational

State of) Brazil Chile Colombia Ecuador Paraguay Peru Uruguay Venezuela (Bolivarian

Republic of)

171Country classification

Table D Fuel-exporting countries

Developed countries

Economies in transition

Developing countries

Latin America and the

Caribbean Africa East Asia South Asia

Australia

Norway

Azerbaijan

Kazakhstan

Russian Federation

Turkmenistan

Bolivia (Plurinational State of)

Colombia

Ecuador

Trinidad and Tobago

Venezuela (Bolivarian Republic of)

Algeria

Angola

Cameroon

Chad

Congo

Equatorial Guinea

Gabon

Libya

Nigeria

Sudan

Brunei Darussalam

Democratic People’s Republic of Korea

Indonesia

Mongolia

Myanmar

Papua New Guinea

Iran (Islamic Republic of)

Western Asia

Bahrain

Iraq

Kuwait

Oman

Qatar

Saudi Arabia

United Arab Emirates

172 World Economic Situation and Prospects 2019

Table E Economies by per capita GNI in June 2018

a

High-income Upper-middle-income Lower-middle-income

Argentinac Australia Austria Bahamas Bahrain Barbados Belgium Brunei

Darussalam Canada Chile Croatiac

Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hong Kong SARd

Hungary Iceland Ireland Israel Italy Japan Kuwait

Latvia Lithuania Luxembourg Malta Netherlands New Zealand Norway Oman Panamac

Poland Portugal Qatar Republic of Korea Saudi Arabia Singapore Slovak Republic Slovenia Spain Sweden Switzerland Taiwan Province of

China Trinidad and Tobago United Arab Emirates United Kingdom United States Uruguay

Albania Algeria Armeniac

Azerbaijan Belarus Belize Bosnia and

Herzegovina Botswana Brazil Bulgaria China Colombia Costa Rica Cuba Dominican Republic Ecuador Equatorial Guinea Fiji Gabon Guatemalac

Guyana Iran (Islamic

Republic of) Iraq Jamaica Jordanc

Kazakhstan Lebanon Libya Malaysia Maldives Mauritius Mexico Montenegro Namibia Paraguay Peru Romania Russian Federation Samoa Serbia South Africa Suriname Thailand The former Yugoslav

Republic of Macedonia

Turkey Turkmenistan Venezuela (Bolivarian

Republic of)

Angola

Bangladesh Bhutan Bolivia (Plurinational

State of) Cabo Verde Cambodia Cameroon Congo Côte d’Ivoire Djibouti Egypt El Salvador Eswatini Georgia Ghana Honduras India Indonesia Kenya Kiribati Kyrgyzstan Lao People’s

Democratic Republic

Lesotho Mauritania Mongolia Morocco Myanmar Nicaragua Nigeria Pakistan Papua New Guinea Philippines Republic of Moldova São Tomé and

Principe Solomon Islands Sri Lanka State of Palestine Sudan Timor-Leste Tunisia Ukraine Uzbekistan Vanuatu Viet Nam Zambia

Low-income

Afghanistan Benin Burkina Faso Burundi Central African

Republic Chad Comoros Democratic People’s

Republic of Korea

Democratic Republic of the Congo

Eritrea Ethiopia Gambia Guinea Guinea-Bissau Haiti Liberia Madagascar

Malawi Mali Mozambique Nepal Niger Rwanda Senegal Sierra Leone Somalia South Sudan

Syrian Arab Republicb

Tajikistanb

Togo Uganda United Republic of

Tanzania Yemenb

Zimbabwe

a Economies systematically monitored for the World Economic Situation and Prospects report and included in the United Nations’ global economic forecast.

b Indicates the country has been shifted downward by one category from previous year’s classification.

c Indicates the country has been shifted upward by one category from previous year’s classification.

d Special Administrative Region of China.

173Country classification

Table F Least developed countries (as of March 2018)

Africa East Asia South Asia Western Asia Latin America

and the Caribbean

Angola Benin Burkina Faso Burundi Central African Republic Chad Comoros Democratic Republic of

the Congo Djibouti Eritrea Ethiopia Gambia Guinea Guinea-Bissau Lesotho Liberia Madagascar

Malawi Mali Mauritania Mozambique Niger Rwanda Sao Tome and Principe Senegal Sierra Leone Somalia South Sudan Sudan Togo Uganda United Republic

of Tanzania Zambia

Cambodia Kiribati Lao People’s

Democratic Republic

Myanmar Solomon

Islands Timor Leste Tuvalua

Vanuatu

Afghanistan Bangladesh Bhutan Nepal

Yemen Haiti

a Not included in the WESP discussion because of insufficient data.

Table G Heavily indebted poor countries (as of October 2017)

Post-completion point HIPCsa Pre-decision point HIPCsb

Afghanistan Benin Bolivia Burkina Faso Burundi Cameroon Central African Republic Chad Comoros Congo Côte D’Ivoire Democratic Republic of the Congo Ethiopia Gambia Ghana Guinea Guinea-Bissau Guyana

Haiti Honduras Liberia Madagascar Malawi Mali Mauritania Mozambique Nicaragua Niger Rwanda Sao Tomé and Principe Senegal Sierra Leone Togo Uganda United Republic of Tanzania Zambia

Eritrea Somalia Sudan

a Countries that have qualified for irrevocable debt relief under the HIPC Initiative.

b Countries that are potentially eligible and may wish to avail themselves of the HIPC Initiative or the Multilateral Debt Relief Initiative (MDRI).

174 World Economic Situation and Prospects 2019

Table H Small island developing States

United Nations members Non-UN members/Associate members

of the Regional Commissions

Antigua and Barbuda

Bahamas

Bahrain

Barbados

Belize

Cabo Verde

Comoros

Cuba

Dominica

Dominican Republic

Federated States of Micronesia

Fiji

Grenada

Guinea-Bissau

Guyana

Haiti

Jamaica

Kiribati

Maldives

Marshall Islands

Mauritius

Nauru

Palau

Papua New Guinea

Saint Kitts and Nevis

Saint Lucia

Saint Vincent and the Grenadines

Samoa

São Tomé and Príncipe

Seychelles

Singapore

Solomon Islands

Suriname

Timor-Leste

Tonga

Trinidad and Tobago

Tuvalu

Vanuatu

American Samoa

Anguilla

Aruba

Bermuda

British Virgin Islands

Cayman Islands

Commonwealth of Northern Marianas

Cook Islands

Curaçao

French Polynesia

Guadeloupe

Guam

Martinique

Montserrat

New Caledonia

Niue

Puerto Rico

Sint Maarten

Turks and Caicos Islands

U.S. Virgin Islands

Table I Landlocked developing countries

Landlocked developing countries

Afghanistan

Armenia

Azerbaijan

Bhutan

Bolivia (Plurinational State of)

Botswana

Burkina Faso

Burundi

Central African Republic

Chad

Eswatini

Ethiopia

Kazakhstan

Kyrgystan

Lao People’s Democratic Republic

Lesotho

Malawi

Mali

Mongolia

Nepal

Niger

Paraguay

Republic of Moldova

Rwanda

South Sudan

Tajikistan

The former Yugoslav Republic of Macedonia

Turkmenistan

Uganda

Uzbekistan

Zambia

Zimbabwe

175Country classification

Table J International Organization for Standardization of Country Codes

ISO Code Country

ISO Code Country

ISO Code Country

ISO Code Country

AFG AGO ALB AND ARE ARG ARM ATG AUS AUT AZE BDI BEL BEN BFA BGD BGR BHR BHS BIH

BLR BLZ BOL

BRA BRB BRN BTN BWA CAF

CAN CHE CHL CHN CIV CMR COD

COG COL COM CPV CRI CUB CYP CZE DEU DJI DMA DNK DOM

Afghanistan Angola Albania Andorra United Arab Emirates Argentina Armenia Antigua and Barbuda Australia Austria Azerbaijan Burundi Belgium Benin Burkina Faso Bangladesh Bulgaria Bahrain Bahamas Bosnia and

Herzegovina Belarus Belize Bolivia (Plurinational

State of) Brazil Barbados Brunei Darussalam Bhutan Botswana Central African

Republic Canada Switzerland Chile China Côte D’Ivoire Cameroon Democratic Republic

of the Congo Congo Colombia Comoros Cabo Verde Costa Rica Cuba Cyprus Czech Republic Germany Djibouti Dominica Denmark Dominican Republic

DZA ECU EGY ERI ESP EST ETH FIN FJI FRA FSM

GAB GBR

GEO GHA GIN GMB GNB GNQ GRC GRD GTM GUY HND HRV HTI HUN IDN IND IRL IRN

IRQ ISL ISR ITA JAM JOR JPN KAZ KEN KGZ KHM KIR KNA KOR KWT LAO

Algeria Ecuador Egypt Eritrea Spain Estonia Ethiopia Finland Fiji France Micronesia (Federated

States of) Gabon United Kingdom of

Great Britain and Northern Ireland

Georgia Ghana Guinea Gambia Guinea Bissau Equatorial Guinea Greece Grenada Guatemala Guyana Honduras Croatia Haiti Hungary Indonesia India Ireland Iran (Islamic

Republic of) Iraq Iceland Israel Italy Jamaica Jordan Japan Kazakhstan Kenya Kyrgyzstan Cambodia Kiribati Saint Kitts and Nevis Republic of Korea Kuwait Lao People’s

Democratic Republic

LBN LBR LBY LCA LIE LKA LSO LTU LUX LVA MAR MCO MDA MDG MDV MEX MHL MKD

MLI MLT MMR MNE MNG MOZ MRT MUS MWI MYS NAM NER NGA NIC NLD NOR NPL NRU NZL OMN PAK PAN PER PHL PLW PNG POL PRK

PRT PRY PSE QAT

Lebanon Liberia Libya Saint Lucia Liechtenstein Sri Lanka Lesotho Lithuania Luxembourg Latvia Morocco Monaco Republic of Moldova Madagascar Maldives Mexico Marshall Islands The former Yugoslav

Republic of Macedonia

Mali Malta Myanmar Montenegro Mongolia Mozambique Mauritania Mauritius Malawi Malaysia Namibia Niger Nigeria Nicaragua Netherlands Norway Nepal Nauru New Zealand Oman Pakistan Panama Peru Philippines Palau Papua New Guinea Poland Democratic People’s

Republic of Korea Portugal Paraguay State of Palestine Qatar

ROU RUS RWA SAU SDN SEN SGP SLB SLE SLV SMR SOM SRB SSD STP

SUR SVK SVN SWE SWZ SYC SYR TCD TGO THA TJK TKM TLS TON TTO TUN TUR TUV TZA

UGA UKR URY USA

UZB VCT

VEN

VNM VUT WSM YEM ZAF ZMB ZWE

Romania Russian Federation Rwanda Saudi Arabia Sudan Senegal Singapore Solomon Islands Sierra Leone El Salvador San Marino Somalia Serbia South Sudan Sao Tome and

Principe Suriname Slovakia Slovenia Sweden Eswatini Seychelles Syrian Arab Republic Chad Togo Thailand Tajikistan Turkmenistan Timor-Leste Tonga Trinidad and Tobago Tunisia Turkey Tuvalu United Republic of

Tanzania Uganda Ukraine Uruguay United States of

America Uzbekistan Saint Vincent and the

Grenadines Venezuela (Bolivarian

Republic of) Viet Nam Vanuatu Samoa Yemen South Africa Zambia Zimbabwe

Annex tables

179Annex tables

Table A.1 Developed economies: rates of growth of real GDP, 2010–2020

Annual percentage change

2010-2017a 2010 2011 2012 2013 2014 2015 2016 2017 2018b 2019c 2020c

Developed economies 1.8 2.6 1.5 1.1 1.2 2.0 2.3 1.7 2.2 2.2 2.1 1.9 United States 2.2 2.5 1.6 2.2 1.7 2.6 2.9 1.6 2.2 2.8 2.5 2.0 Canada 2.3 3.1 3.1 1.7 2.5 2.9 1.0 1.4 3.0 2.0 2.0 2.2 Japan 1.5 4.2 -0.1 1.5 2.0 0.4 1.4 1.0 1.7 1.0 1.4 1.2 Australia 2.6 2.4 2.7 3.9 2.2 2.6 2.5 2.6 2.2 3.2 2.7 2.4 New Zealand 2.9 2.0 1.9 2.5 2.2 3.2 4.2 4.1 3.0 2.9 2.7 3.0 European Union 1.5 2.1 1.7 -0.4 0.3 1.8 2.3 2.0 2.4 2.0 2.0 2.0 EU-15 1.4 2.1 1.6 -0.5 0.2 1.7 2.2 1.9 2.2 1.8 1.8 1.8

Austria 1.5 1.8 2.9 0.7 0.0 0.8 1.1 1.5 3.0 2.9 1.9 1.8 Belgium 1.4 2.7 1.8 0.2 0.2 1.3 1.4 1.4 1.7 1.5 1.6 1.6 Denmark 1.5 1.9 1.3 0.2 0.9 1.6 1.6 2.0 2.3 1.6 1.9 1.8 Finland 1.0 3.0 2.6 -1.4 -0.8 -0.6 0.1 2.5 2.8 2.5 2.3 2.3 France 1.3 1.9 2.2 0.3 0.6 1.0 1.1 1.2 2.2 1.7 1.8 1.8 Germany 2.1 4.1 3.7 0.5 0.5 1.9 1.7 2.2 2.2 1.8 1.8 1.8 Greece -3.0 -5.5 -9.1 -7.3 -3.2 0.7 -0.3 -0.2 1.4 1.8 1.9 1.5 Ireland 6.3 1.8 3.0 0.0 1.6 8.3 25.1 5.0 7.2 3.8 4.4 4.2 Italy 0.1 1.7 0.6 -2.8 -1.7 0.1 1.0 0.9 1.5 1.2 1.2 1.0 Luxembourg 3.1 4.9 2.5 -0.4 3.7 5.8 2.9 3.1 2.3 3.1 3.1 3.1 Netherlands 1.3 1.4 1.7 -1.1 -0.2 1.4 2.0 2.2 2.9 2.6 2.5 2.4 Portugal 0.2 1.9 -1.8 -4.0 -1.1 0.9 1.8 1.6 2.7 1.7 1.3 1.9 Spain 0.7 0.0 -1.0 -2.9 -1.7 1.4 3.4 3.3 3.1 2.7 2.3 2.1 Sweden 2.7 6.0 2.7 -0.3 1.2 2.6 4.5 2.7 2.1 2.7 2.2 2.2 United Kingdom 1.9 1.7 1.5 1.5 2.1 3.1 2.3 1.8 1.7 1.3 1.4 1.7

EU-13 2.6 1.7 3.1 0.6 1.3 2.9 3.8 3.2 4.6 4.2 3.6 3.5 Bulgaria 2.1 1.3 1.9 0.0 0.9 1.3 3.5 3.9 3.8 3.4 3.5 3.5 Croatia 0.5 -1.5 -0.3 -2.3 -0.5 -0.1 2.4 3.5 2.9 2.7 2.8 2.7 Cyprus 0.2 1.3 0.3 -3.1 -5.9 -1.4 2.0 4.8 4.2 3.0 2.0 3.2 Czech Republic 2.2 2.3 1.8 -0.8 -0.5 2.7 5.3 2.5 4.3 2.5 3.1 3.3 Estonia 3.6 2.3 7.6 4.3 1.9 2.9 1.9 3.5 4.9 3.8 3.5 3.0 Hungary 2.1 0.7 1.7 -1.6 2.1 4.2 3.4 2.2 4.0 4.8 3.2 3.0 Latvia 2.5 -3.9 6.4 4.0 2.4 1.9 3.0 2.2 4.5 4.6 3.8 4.0 Lithuania 3.3 1.6 6.0 3.8 3.5 3.5 2.0 2.3 3.9 3.2 3.5 3.5 Malta 5.2 3.5 1.3 2.7 4.7 8.1 9.5 5.2 6.7 2.9 2.9 3.6 Poland 3.3 3.6 5.0 1.6 1.4 3.3 3.8 3.0 4.6 5.0 3.8 3.8 Romania 2.8 -2.8 2.0 1.2 3.5 3.1 3.9 4.8 6.8 4.2 3.8 3.6 Slovakia 3.0 5.0 2.8 1.7 1.5 2.8 3.9 3.3 3.4 4.2 4.0 3.6 Slovenia 1.4 1.2 0.6 -2.7 -1.1 3.0 2.3 3.1 4.9 4.2 3.8 3.2

Other Europe 1.7 1.9 1.4 1.7 1.5 2.2 1.6 1.4 1.5 2.1 2.0 1.9 Iceland 2.7 -3.6 2.0 1.3 4.3 2.2 4.5 7.4 4.0 3.5 3.2 4.0 Norway 1.6 0.7 1.0 2.7 1.0 2.0 2.0 1.2 2.0 1.7 2.0 2.1 Switzerland 1.7 3.0 1.7 1.0 1.9 2.4 1.2 1.4 1.1 2.3 2.0 1.7 Memorandum items North America 2.2 2.6 1.8 2.2 1.8 2.6 2.7 1.6 2.3 2.7 2.4 2.0 Developed Asia and Pacific 1.8 3.8 0.5 2.0 2.0 0.9 1.6 1.4 1.9 1.5 1.7 1.5 Europe 1.5 2.1 1.7 -0.2 0.4 1.8 2.3 1.9 2.4 2.0 2.0 2.0 Major developed economies 1.8 2.8 1.5 1.4 1.4 1.9 2.1 1.5 2.1 2.1 2.0 1.8 Euro area 1.3 2.1 1.6 -0.9 -0.2 1.3 2.1 1.9 2.4 2.0 1.9 1.9

Source: UN/DESA, based on data of the United Nations Statistics Division and individual national sources. Note: Regional aggregates calculated at 2012 prices and exchange rates. a Average percentage change. b Partly estimated. c Baseline scenario forecasts, based in part on Project LINK and UN/DESA World Economic Forecasting Model.

180 World Ec

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