Item

2004$

2003$

2002

2001

2000

1999

1998

    1997

1

2

3

4

5

6

7

8

9

I.

World Output (Per Cent Change)

4.1

3.2

3.0

2.3

4.7

3.6

2.8

4.3

i)

Advanced economies

2.9

1.9

1.8

0.9

3.8

3.4

2.7

3.4

ii)

Developing countries

5.8

5.0

4.6

3.9

5.7

3.9

3.5

5.9

a) Developing Asia

6.5

6.3

6.5

5.7

6.8

6.1

4.0

6.6

b) Africa

5.2

3.9

3.4

3.6

2.8

2.6

3.3

3.0

c) Middle East, Malta and Turkey

4.9

5.1

4.5

1.4

5.8

0.8

3.8

6.6

d) Western Hemisphere

4.2

1.5

-0.1

0.6

4.0

0.2

2.3

5.2

iii)

Countries in Transition

4.1

4.0

4.1

5.1

6.6

3.6

-0.8

2.0

II.

Inflation- CPI (Per Cent Change)

i)

Advanced economies

1.7

1.9

1.5

2.2

2.3

1.4

1.5

2.1

ii)

Developing countries

5.1

5.8

5.4

5.8

5.8

6.6

10.2

9.8

a) Developing Asia

3.3

2.3

1.9

2.7

1.8

2.5

7.7

4.8

III.

Fiscal Balance #

i)

Advanced economies

-2.3

-2.6

-2.1

-0.8

0.3

-0.9

-1.3

-1.8

ii)

Developing countries

-3.2

-3.4

-3.8

-3.8

-3.2

-3.8

-3.8

-2.6

a) Developing Asia

-3.6

-3.9

-4.0

-4.1

-4.3

-4.2

-3.6

-2.6

IV.

Net Capital Flows*

(US $ billion)

Emerging Market Economies**

i)

Net private capital flows (a+b+c)

113.2

90.5

85.9

38.8

51.1

96.0

53.4

75.7

a) Net private direct investment

146.7

147.6

139.2

170.5

149.0

156.8

148.8

136.0

b) Net private portfolio investment

10.3

-3.5

-36.6

-38.5

12.1

41.4

1.7

48.5

c) Net other private capital flows

-43.7

-53.6

-16.7

-93.2

-110.1

-102.2

-97.1

-108.8

ii)

Net official flows

-18.0

-1.9

25.8

38.8

-3.8

14.0

83.0

56.3

V.

World Trade @

6.1

4.3

2.9

0.1

12.6

5.6

4.4

10.6

Imports

i)

Advanced economies

5.9

4.7

2.1

-1.1

11.9

8.0

6.0

9.4

ii)

Developing countries

8.0

4.7

5.4

2.2

15.7

1.7

-0.5

11.8

Exports

i)

Advanced economies

5.8

3.8

2.0

-1.0

12.0

5.5

4.1

10.6

ii)

Developing countries

7.6

3.7

5.1

3.3

14.9

4.6

5.2

14.0

Terms of Trade

i)

Advanced economies

0.7

0.6

0.4

0.4

-2.5

-0.3

1.3

-0.5

ii)

Developing countries

-2.4

1.7

1.2

-3.1

6.0

4.6

-6.6

-0.3

VI.

Current Account Balance

(US $ billion)

i)

Advanced economies

-261.9

-270.4

-217.2

-187.3

-224.5

-91.6

49.6

94.5

ii)

Developing countries

18.9

73.6

54.9

31.1

67.1

-10.1

-83.2

-56.0

a) Developing Asia

25.8

34.8

51.2

34.5

44.2

46.7

47.9

8.4

$ Projections
.# Central Government balance as percentage of GDP.
* Net capital flows comprise net direct investment, net portfolio investment, and other long- and short-term net investment flows, including official and private borrowing.
** Emerging markets include developing countries, countries in transition, Korea, Singapore, Taiwan Province of China, and Israel.
@ Annual percentage change in world trade in volume of goods and services.
Source : World Economic Outlook (IMF), April 2003.