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Global Economic Prospects 2016

Spillovers amid Weak Growth

Overview

Forecasts

Global growth again fell short of expectations in 2015, slowing to 2.4 percent from 2.6 percent in 2014. Going forward, global growth is projected to edge up, but at a slower pace than envisioned in the June 2015, reaching 2.9 percent in 2016 and 3.1 percent in 2017-18. The data in this table is reproduced from the January 2016 Global Economic Prospects report (PDF, 18MB).

  2013 2014 2015e 2016f 2017f 2018f
 REAL GDP1(% change)            
World 2.4 2.6 2.4 2.9 3.1 3.1
     High income2 1.2 1.7 1.6 2.1 2.1 2.1
          United States 1.5 2.4 2.5 2.7 2.4 2.2
          Euro Area -0.2 0.9 1.5 1.7 1.7 1.6
          Japan 1.6 -0.1 0.8 1.3 0.9 1.3
          United Kingdom 2.2 2.9 2.4 2.4 2.2 2.1
          Russia 1.3 0.6 -3.8 -0.7 1.3 1.5
     Developing countries2 5.3 4.9 4.3 4.8 5.3 5.3
          East Asia and Pacific 7.1 6.8 6.4 6.3 6.2 6.2
               China 7.7 7.3 6.9 6.7 6.5 6.5
               Indonesia 5.6 5.0 4.7 5.3 5.5 5.5
               Thailand 2.8 0.9 2.5 2.0 2.4 2.7

            Europe and Central Asia2

3.9 2.3 2.1 3.0 3.5 3.5
               Kazakhstan 6.0 4.4 0.9 1.1 3.3 3.4
               Turkey 4.2 2.9 4.2 3.5 3.5 3.4
               Romania 3.5 2.8 3.6 3.9 4.1 4.0

             Latin America and the Caribbean2

3.0 1.5 -0.7 0.1 2.3 2.5
               Brazil 3.0 0.1 -3.7 -2.5 1.4 1.5
               Mexico 1.4 2.3 2.5 2.8 3.0 3.2
               Colombia 4.9 4.6 3.1 3.0 3.3 3.5
           Middle East and North Africa  0.6 2.5 2.5 5.1 5.8 5.1

                  Egypt3

2.1 2.2 4.2 3.8 4.4 4.8
               Iran  -1.9 4.3 1.0 5.8 6.7 6.0
               Algeria 6.2 6.8 7.0 7.3 7.5 7.5
          South Asia 6.2 6.8 7.0 7.3 7.5 7.5

               India3

6.9 7.3 7.3 7.8 7.9 7.9

               Pakistan3,4

4.4 4.7 5.5 5.5 5.4 5.4

               Bangladesh3

6.1 6.5 6.5 6.7 6.8 6.8

            Sub-Saharan Africa2

4.9 4.6 3.4 4.2 4.7 4.7
               South Africa 2.2 1.5 1.3 1.4 1.6 1.6
               Nigeria 5.4 6.3 3.3 4.6 5.3 5.3
               Angola 6.8 3.9 3.0 3.3 3.8 3.8
MEMORANDUM ITEMS (Real GDP % change)          
     World (2010 PPP weights) 3.2 3.4 3.1 3.6 3.8 3.9
     BRICS 5.7 5.1 3.9 4.6 5.3 5.4
     Low-income countries 6.4 6.1 5.1 6.2 6.6 6.6

     Emerging markets (EME)5

4.9 4.5 3.7 4.2 4.8 4.9

     Frontier markets (FME)6

3.7 2.2 1.1 2.3 3.4 3.8

     Commodity-exporting EME & FME7

3.3 1.9 -0.4 0.9 2.6 2.9
     Other EME & FME 5.6 5.7 5.7 5.7 5.7 5.8

     World trade volume8

3.3 3.6 3.6 3.8 4.3 4.5

     Oil price9

-0.9 -7.5 -46.5 -8.5 7.2 7.2
     Non-energy commodity price index -7.2 -4.6 -14.8 -1.8 1.9 1.9

International capital flows to developing countries (% of GDP)10

       
     Developing countries 5.9 5.3 3.1 3.7              4.2              4.5 
          East Asia and Pacific 6.2 5.3 2.0 3.0              3.8              4.3 
          Europe and Central Asia 6.8 4.6 2.7 3.1              3.6              4.1 
          Latin America and the Caribbean 6.9 6.7 5.5 5.4              5.3              5.3 
          Middle East and North Africa 2.4 2.3 3.1 3.2              3.3              3.5 
          South Asia 4.3 4.9 5.0 5.1              5.2              5.2 
          Sub-Saharan Africa 5.0 5.1 4.0 4.0              4.1              4.3 

Source: World Bank.
Notes: PPP = purchasing power parity; e = estimate; f = forecast.
World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not differ at any given moment in time.
1. Aggregate growth rates calculated using constant 2010 U.S. dollars GDP weights.
2. Since July 2015, Argentina, Hungary, Seychelles, and Venezuela, RB have been classified as high income, and have been removed from respective developing regions. Percentage differences from previous Global Economic Prospects projections are calculated after modifying previous numbers to this new classification.
3. In keeping with national practice, data for Bangladesh, Egypt, India, and Pakistan are reported on a fiscal year basis in this table. Aggregates that depend on these countries are calculated using data compiled on a calendar year basis.
4. GDP data for Pakistan are based on market prices.
5. Includes Arab Republic of Egypt, Brazil, Chile, China, Colombia, Czech Republic, Hungary, India, Indonesia, Malaysia, Mexico, Morocco, Pakistan, Peru, Philippines, Poland, Qatar, Republic of Korea, Russian Federation, Saudi Arabia, South Africa, Thailand, Turkey, and United Arab Emirates.
6. Includes Argentina, Azerbaijan, Bahrain, Bangladesh, Bolivia, Botswana, Bulgaria, Costa Rica, Côte d'Ivoire, Croatia, Ecuador, El Salvador, Gabon, Georgia, Ghana, Guatemala, Honduras, Jamaica, Jordan, Kazakhstan, Kenya, Kuwait, Lebanon, Mauritius, Mongolia, Namibia, Nigeria, Oman, Panama, Paraguay, República Bolivarian de Venezuela, Romania, Senegal, Serbia, Sri Lanka, Tunisia, Ukraine, Uruguay, Vietnam, and Zambia.
7. Includes Argentina, Azerbaijan, Bahrain, Bolivia, Botswana, Brazil, Chile, Colombia, Costa Rica, Côte d'Ivoire, Ecuador, Gabon, Ghana, Guatemala, Honduras, Indonesia, Jamaica, Kazakhstan, Kenya, Kuwait, Malaysia, Mongolia, Namibia, Nigeria, Oman, Panama, Paraguay, Peru, Qatar, República Bolivarian de Venezuela, Russian Federation, Saudi Arabia, Senegal, South Africa, Sri Lanka, Ukraine, United Arab Emirates, Uruguay, and Zambia.
8. World trade volume for goods and non-factor services.
9. Simple average of Dubai, Brent, and West Texas Intermediate.
10. Balance of payments data for capital inflows of foreign direct investment, portfolio investment, and other investment (BPM6).

Global Outlook

Global growth again fell short of expectations in 2015, slowing to 2.4 percent from 2.6 percent in 2014, according to the January 2016 issue of Global Economic Prospects. The disappointing performance was mainly due to a continued deceleration of economic activity in emerging and developing economies amid weakening commodity prices, global trade, and capital flows. Going forward, global growth is projected to edge up, but at a slower pace than envisioned in the June 2015 forecast, reaching 2.9 percent in 2016 and 3.1 percent in 2017-18.

The forecast is subject to substantial downside risks, including a sharper-than-expected slowdown in major emerging and developing economies or financial market turmoil arising from a sudden increase in borrowing costs that could combine with deteriorating fundamentals and lingering vulnerabilities in some countries.

Regional

Growth in developing countries reached a post-crisis low of 4.3 percent in 2015, according to the World Bank’s January 2016 Global Economic Prospects. Growth is expected to modestly improve in 2016, rising to 4.8 percent, reflecting continued growth momentum in high-income countries, a stabilization of commodity prices, still-accommodative monetary policy in major economies, and a steady process of rebalancing in China. “There is greater divergence in performance among emerging economies. Compared to six months ago, risks have increased, particularly those associated with the possibility of a disorderly slowdown in a major emerging economy,” said World Bank Group Vice President and Chief Economist Kaushik Basu. The links below provide access to six detailed regional reports and to extensive economic data, including forecasts through 2018.

  • East Asia and Pacific

    In the East Asia and Pacific region, economic growth is projected to continue to slow to 6.3 percent in 2016 from a slightly less-than-expected 6.4 percent in 2015, according to the January 2016 issue of Global Economic Prospects. Growth in China is forecast to ease further to 6.7 percent in 2016 from 6.9 percent in 2015. Growth in the region excluding China was 4.6 percent in 2015, a pace that was broadly unchanged from 2014, as weaker growth in commodity exporters, including Indonesia and Malaysia, was offset by growth acceleration in Vietnam and moderate recovery in Thailand. Risks include a faster-than-expected slowdown in China, the possibility of renewed financial market turbulence, and an abrupt tightening of financing conditions.
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    East Asia and Pacific regional forecast

    (Annual percent change unless indicated otherwise)
      2013 2014 2015e 2016f 2017f 2018f
    Developing EAP, GDP (a) 7.1 6.8 6.4 6.3 6.2 6.2
    (Average including countries with full national accounts and balance of payments data only) (b)
    Developing EAP, GDP(b) 7.1 6.8 6.4 6.3 6.2 6.2
    GDP per capita, constant $ 6.4 6.0 5.7 5.6 5.5 5.6
    PPP GDP 7.1 6.7 6.4 6.3 6.1 6.2
    Private consumption 6.8 6.9 6.9 6.9 7.0 7.0
    Public consumption 7.8 6.2 6.3 6.1 5.9 5.7
    Fixed investment 8.8 6.5 6.4 6.3 6.1 5.9
    Exports, GNFS (c) 7.2 6.5 3.7 4.3 4.8 5.2
    Imports, GNFS (c) 8.5 5.7 3.2 4.7 5.1 5.6
    Net exports, contribution to growth -0.2 0.4 0.2 0.0 0.0 0.0
    Memo items: GDP
    East Asia ex. China 5.2 4.7 4.6 4.8 5.0 5.1
    China 7.7 7.3 6.9 6.7 6.5 6.5
    Indonesia 5.6 5.0 4.7 5.3 5.5 5.5
    Thailand 2.8 0.9 2.5 2.0 2.4 2.7

    Source: World Bank

    Notes: World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not differ at any given moment in time.

    a. GDP at market prices and expenditure components are measured in constant 2010 U.S. dollars. Excludes American Samoa and Democratic People's Republic of Korea.

    b. Sub-region aggregate excludes American Samoa, Democratic People's Republic of Korea, Fiji, Kiribati, Marshall Islands, Micronesia, Federated States, Myanmar, Palau, Papua New Guinea, Samoa, Timor-Leste, Tonga, and Tuvalu, for which data limitations prevent the forecasting of GDP components.

    c. Exports and imports of goods and non-factor services (GNFS).

    East Asia and the Pacific economy forecastsa

    (Real GDP growth at market prices in percent, unless indicated otherwise)
      2013 2014 2015e 2016f 2017f 2018f
    Cambodia

    7.4

    7.0

    6.9

    6.9

    6.8

    6.8

    China

    7.7

    7.3

    6.9

    6.7

    6.5

    6.5

    Fiji

    4.6

    4.3

    4.0

    3.5

    3.1

    3.0

    Indonesia

    5.6

    5.0

    4.7

    5.3

    5.5

    5.5

    Lao, PDR

    8.5

    7.5

    6.4

    7.0

    6.9

    6.9

    Malaysia

    4.7

    6.0

    4.7

    4.5

    4.5

    5.0

    Mongolia

    11.7

    7.8

    2.3

    0.8

    3.0

    6.4

    Myanmar

    8.5

    8.5

    6.5

    7.8

    8.5

    8.5

    Philippines

    7.1

    6.1

    5.8

    6.4

    6.2

    6.2

    Papua New Guinea

    5.5

    8.5

    8.7

    3.3

    4.0

    3.8

    Solomon Islands

    3.0

    1.5

    3.3

    3.0

    3.5

    3.4

    Thailand

    2.8

    0.9

    2.5

    2.0

    2.4

    2.7

    Timor-Leste (b)

    2.8

    7.0

    6.8

    6.9

    7.0

    7.0

    Vietnam

    5.4

    6.0

    6.5

    6.6

    6.3

    6.0

    Source: World Bank

    Notes: World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not significantly differ at any given moment in time.

    a. American Samoa, Democratic People's Republic of Korea, Kiribati, Marshall Islands, Micronesia, Federated States, Palau, Samoa, and Tuvalu are not forecast due to data limitations.

    b. Non-oil GDP. Timor-Leste's total GDP, including the oil economy, is roughly four times the non-oil economy, and highly volatile, sensitive to changes in global oil prices and local production levels.

  • Europe and Central Asia

    In the Europe and Central Asia region, economic growth is projected to rise to 3 percent in 2016 from 2.1 percent in the year just ended as oil prices fall more slowly or stabilize, the Russian Federation’s economy improves, and Ukraine recovers, according to the January 2016 issue of Global Economic Prospects. Growth over the 2016-18 forecast period could pick-up modestly in the eastern part of the region, which includes Eastern Europe, South Caucasus, and Central Asia, supported by a gradual stabilization of commodity prices and more favorable economic spillovers from the Russian Federation as its recession bottoms out and growth returns. The western part of the region, which includes Bulgaria, Romania, Turkey, and the Western Balkans, should grow moderately in 2016, buoyed by recovery in the Euro Area.
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    Europe and Central Asia regional forecast

    (Annual percent change unless indicated otherwise)
     

    2013

    2014

    2015e

    2016f

    2017f

    2018f

    Developing ECA, GDP (a)

    3.9

    2.3

    2.1

    3.0

    3.5

    3.5

    Developing ECA, GDP excl. Ukraine

    4.3

    3.1

    3.3

    3.1

    3.6

    3.6

    (Average including countries with full national accounts and balance of payments data only)(b)
    Developing ECA, GDP (b)

    3.9

    2.3

    2.1

    2.9

    3.4

    3.4

    GDP per capita (units in US$)

    3.0

    1.5

    1.4

    2.3

    2.9

    3.0

    PPP GDP

    3.8

    2.1

    1.5

    2.8

    3.4

    3.4

    Private consumption

    5.1

    0.5

    1.8

    3.3

    3.6

    3.6

    Public consumption

    5.0

    4.8

    4.6

    3.9

    4.3

    4.3

    Fixed investment

    2.1

    -2.2

    1.1

    1.7

    3.4

    3.5

    Exports, GNFS (c)

    0.6

    1.2

    -0.3

    4.7

    4.8

    4.9

    Imports, GNFS (c)

    4.2

    -3.6

    -1.2

    4.2

    5.0

    5.1

    Net exports, contribution to growth

    -1.4

    1.7

    0.3

    0.1

    -0.2

    -0.2

    Memo Items: GDP
    Broader Geographic Region (d)

    2.2

    1.8

    0.2

    1.7

    2.7

    2.8

    Central Europe, West Balkans, and Turkey

    2.4

    2.8

    3.6

    3.3

    3.4

    3.4

      Central Europe (e)

    1.3

    2.8

    3.3

    3.2

    3.4

    3.4

      Western Balkans (f)  

    2.5

    0.4

    1.9

    2.6

    3.0

    3.5

      Eastern Europe (g)

    0.6

    -4.0

    -9.1

    0.5

    1.7

    1.7

      South Caucasus (h)

    5.0

    3.2

    2.1

    1.3

    2.0

    3.1

      Central Asia (i)

    6.8

    5.6

    2.8

    3.2

    4.8

    4.9

        Russian Federation

    1.3

    0.6

    -3.8

    -0.7

    1.3

    1.5

        Turkey

    4.2

    2.9

    4.2

    3.5

    3.5

    3.4

        Ukraine

    0.0

    -6.8

    -12.0

    1.0

    2.0

    2.0

    Source: World Bank

    Notes: World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not differ at any given moment in time.

    a. GDP at market prices and expenditure components are measured in constant 2010 U.S. dollars.

    b. Sub-region aggregate excludes Bosnia and Herzegovina, Kosovo, Montenegro, Serbia, Tajikistan, and Turkmenistan, for which data limitations prevent the forecasting of GDP components.

    c. Exports and imports of goods and non-factor services (GNFS).

    d. Includes developing ECA and the following high-income countries: Croatia, Czech Republic, Hungary, Poland, Russian Federation, Slovak Republic, and Slovenia.

    e. Includes Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Slovak Republic, and Slovenia.

    f. Includes Albania, Bosnia and Herzegovina, Kosovo, FYR Macedonia, Montenegro, and Serbia.

    g. Includes Belarus, Moldova, and Ukraine.

    h. Includes Armenia, Azerbaijan, and Georgia.

    i. Includes Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan.

    Europe and Central Asia economy forecasts

    (Real GDP growth at market prices in percent, unless indicated otherwise)
     

    2013

    2014

    2015e

    2016f

    2017f

    2018f

    Albania

    1.4

    2.0

    2.7

    3.4

    3.5

    3.5

    Armenia

    3.3

    3.5

    2.5

    2.2

    2.8

    3.0

    Azerbaijan

    5.8

    2.8

    2.0

    0.8

    1.2

    2.7

    Belarus

    1.1

    1.6

    -3.5

    -0.5

    1.0

    1.0

    Bosnia and Herzegovina

    2.5

    0.8

    1.9

    2.3

    3.1

    3.5

    Bulgaria

    1.3

    1.5

    2.9

    2.2

    2.7

    2.7

    Georgia

    3.3

    4.8

    2.5

    3.0

    4.5

    5.0

    Kazakhstan

    6.0

    4.4

    0.9

    1.1

    3.3

    3.4

    Kosovo

    3.4

    1.2

    3.0

    3.5

    3.7

    4.0

    Kyrgyz Republic

    10.9

    3.6

    2.0

    4.2

    3.4

    4.3

    Macedonia, FYR

    2.7

    3.5

    3.2

    3.4

    3.7

    3.7

    Moldova, Rep.

    9.4

    4.6

    -2.0

    0.5

    4.0

    4.0

    Montenegro

    3.5

    1.8

    3.4

    2.9

    3.0

    2.9

    Romania

    3.5

    2.8

    3.6

    3.9

    4.1

    4.0

    Serbia

    2.6

    -1.8

    0.8

    1.8

    2.2

    3.5

    Tajikistan

    7.4

    6.7

    4.2

    4.8

    5.5

    5.5

    Turkey

    4.2

    2.9

    4.2

    3.5

    3.5

    3.4

    Turkmenistan

    10.2

    10.3

    8.5

    8.9

    8.9

    8.9

    Ukraine

    0.0

    -6.8

    -12

    1.0

    2.0

    2.0

    Uzbekistan

    8.0

    8.1

    7

    7.5

    7.7

    7.7

      Recently transitioned to high income countries (a)
    Croatia

    -1.1

    -0.4

    1.0

    1.4

    1.7

    2.0

    Czech Republic

    -0.5

    2.0

    4.0

    2.5

    2.9

    2.9

    Hungary

    1.9

    3.7

    2.8

    2.5

    2.7

    3.0

    Poland

    1.7

    3.4

    3.5

    3.7

    3.9

    3.9

    Russian Federation

    1.3

    0.6

    -3.8

    -0.7

    1.3

    1.5

    Slovak Republic

    1.4

    2.5

    3.1

    3.3

    3.5

    3.5

    Slovenia

    -1.1

    3.0

    2.4

    2.1

    2.0

    2.0

    Source: World Bank

    Notes: World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not significantly differ at any given moment in time.

    a. Based on the World Bank's country reclassification from 2004 to 2015.

  • Latin America and the Caribbean

    Developing and high-income economies in Latin America and the Caribbean contracted 0.9 percent in 2015, amid lower commodity prices, decelerations in major trading partners, and persistent domestic challenges among the region’s largest economies. However, there are differences among the sub-regions, with stronger growth in developing Central and North America, and the Caribbean, offsetting weakness in South America. With commodity prices expected to stabilize, coupled with the continued economic strengthening the United States and Euro Area, regional growth is expected to improve over the medium term to 2.2 percent in 2017-18. Major downside risks include further declines in commodity prices, bouts of financial volatility, sharp falls in capital flows, and protracted economic downturns among the region’s largest economies.
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    Latin America and the Caribbean regional forecast

    (Annual percent change unless indicated otherwise)
     

    2013

    2014

    2015e

    2016f

    2017f

    2018f

    Developing LAC, GDP (a)

    3.0

    1.5

    -0.7

    0.1

    2.3

    2.5

    (Average including countries with full national accounts and balance of payments data only)(b)
    Developing LAC, GDP (b)

    3.0

    1.5

    -0.7

    0.1

    2.3

    2.5

    GDP per capita, (U.S. dollars)

    1.8

    0.3

    -1.8

    -1.0

    1.2

    1.4

    PPP GDP

    3.1

    1.7

    -0.2

    0.5

    2.5

    2.6

    Private consumption

    3.3

    2.0

    -0.8

    -0.1

    1.9

    2.1

    Public consumption

    2.3

    2.2

    0.1

    -0.6

    -0.5

    0.9

    Fixed investment

    4.2

    -0.5

    -7.7

    -2.2

    2.9

    3.5

    Exports, GNFS (c)

    2.7

    3.5

    4.7

    5.0

    5.0

    5.0

    Imports, GNFS (c)

    4.3

    2.9

    -2.1

    1.7

    2.9

    3.9

    Net exports, contribution to growth

    -0.4

    0.0

    1.4

    0.7

    0.5

    0.2

    Memo Items: GDP
    Broader geographic region (d)

    2.9

    1.0

    -0.9

    0.0

    2.1

    2.4

    South America

    3.3

    0.4

    -2.1

    -1.1

    1.7

    2.0

    Developing Central and North America

    1.8

    2.5

    2.7

    3.0

    3.2

    3.4

    Caribbean

    3.0

    4.2

    3.3

    3.1

    2.9

    3.1

    Brazil

    3.0

    0.1

    -3.7

    -2.5

    1.4

    1.5

    Mexico

    1.4

    2.3

    2.5

    2.8

    3.0

    3.2

      Colombia

    4.9

    4.6

    3.1

    3.0

    3.3

    3.5

    Source: World Bank

    Notes: World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not differ at any given moment in time.

    a. GDP at market prices and expenditure components are measured in constant 2010 U.S. dollars. Excludes Cuba, Grenada, and Suriname.

    b. Sub-region aggregate excludes Cuba, Dominica, Grenada, Guyana, St. Lucia, St. Vincent and the Grenadines, and Suriname, for which data limitations prevent the forecasting of GDP components.

    c. Exports and imports of goods and non-factor services (GNFS).

    d. Includes the following high-income countries: Antigua and Barbuda, Argentina, The Bahamas, Barbados, Chile, Trinidad and Tobago, Uruguay, and Venezuela, RB.

    e. Includes Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Uruguay, and Venezuela, RB.

    f. Includes Costa Rica, Guatemala, Honduras, Mexico, Nicaragua, Panama, and El Salvador.

    g. Includes Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Dominican Republic, Haiti, Jamaica, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago.

    Latin America and the Caribbean economy forecastsa

    (Real GDP growth at market prices in percent, unless indicated otherwise)
      2013

    2014

    2015e

    2016f

    2017f

    2018f

    Belize

    1.5

    3.6

    3.0

    2.5

    2.6

    2.8

    Bolivia

    6.8

    5.5

    4.0

    3.5

    3.4

    3.4

    Brazil

    3.0

    0.1

    -3.7

    -2.5

    1.4

    1.5

    Colombia

    4.9

    4.6

    3.1

    3.0

    3.3

    3.5

    Costa Rica

    3.4

    3.5

    2.8

    4.0

    4.2

    4.4

    Dominica

    1.7

    3.4

    -3.0

    4.0

    2.0

    2.0

    Dominican Republic

    4.8

    7.3

    5.6

    4.6

    3.8

    3.9

    Ecuador

    4.6

    3.7

    -0.6

    -2.0

    0.0

    0.5

    El Salvador

    1.8

    2.0

    2.4

    2.5

    2.6

    2.8

    Guatemala

    3.7

    4.2

    3.7

    3.6

    3.5

    3.6

    Guyana

    5.2

    3.9

    3.5

    3.8

    4.0

    4.0

    Haiti (b)

    4.2

    2.7

    1.7

    2.5

    2.8

    3.0

    Honduras

    2.8

    3.1

    3.4

    3.4

    3.5

    3.6

    Jamaica

    0.5

    0.7

    1.3

    2.1

    2.4

    2.6

    Mexico

    1.4

    2.3

    2.5

    2.8

    3.0

    3.2

    Nicaragua

    4.6

    4.7

    3.9

    4.2

    4.1

    4.0

    Panama

    8.4

    6.2

    5.9

    6.2

    6.4

    6.6

    Paraguay

    14

    4.7

    2.8

    3.6

    4.0

    4.2

    Peru

    5.8

    2.4

    2.7

    3.3

    4.5

    4.6

    St. Lucia

    -1.9

    -0.7

    1.7

    1.6

    1.9

    2.1

    St. Vincent and the Grenadines

    2.3

    -0.2

    2.1

    2.7

    3.0

    3.4

    Recently transitioned to high income countries (c)
    Argentina

    2.9

    0.5

    1.7

    0.7

    1.9

    3.0

    Chile

    4.2

    1.9

    2.1

    2.4

    2.9

    3.1

    Trinidad and Tobago

    1.7

    1.0

    0.0

    0.5

    1.2

    1.5

    Uruguay

    5.1

    3.3

    1.5

    1.9

    2.8

    3.0

    Venezuela, RB

    1.3

    -4.0

    -8.2

    -4.8

    -1.1

    0.0

    Source: World Bank

    Notes: World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not significantly differ at any given moment in time.

    a. Cuba, Grenada, and Suriname are not forecast due to data limitations.

    b. GDP is based on fiscal year, which runs from October to September of next year.

    c. Based on the World Bank's country reclassification from 2004 to 2015.

  • Middle East and North Africa

    In the Middle East and North Africa region, economic growth is forecast to accelerate to 5.1 percent in 2016 from 2.5 percent in the year just ended, as the expected suspension or removal of economic sanctions against the Islamic Republic of Iran will allow that country to play a larger role in global energy markets, according to the January 2016 issue of Global Economic Prospects. Growth is expected to pick up in other oil exporters as well, predominantly on the assumption that oil prices will stabilize. The region is subject to serious risks from the possibility of an escalation of conflict, a further decline in oil prices, and failure to improve living conditions, which could spark social unrest.
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    Middle East and North Africa regional forecast

    (Annual percent change unless indicated otherwise)
     

    2013

    2014

    2015e

    2016f

    2017f

    2018f

    Developing MENA, GDP (a)

    0.6

    2.5

    2.5

    5.1

    5.8

    5.1

    (Average including countries with full national accounts and balance of payments data only) (b)
    Developing MENA, GDP (b)

    1.0

    3.6

    2.8

    4.4

    5.1

    4.9

    GDP per capita (U. S. dollars)

    -0.9

    1.7

    1.0

    2.8

    3.5

    3.5

    PPP GDP

    0.9

    3.6

    2.8

    4.5

    5.2

    5.0

    Private consumption

    2.5

    2.5

    2.7

    3.1

    3.3

    3.3

    Public consumption

    0.3

    3.7

    2.6

    3.9

    4.4

    4.5

    Fixed investment

    -0.1

    8.3

    4.9

    7.3

    8.8

    7.9

    Exports, GNFS (c)

    -1.6

    2.4

    -0.4

    7.0

    7.5

    8.3

    Imports, GNFS (c)

    -1.2

    2.0

    1.3

    4.5

    4.9

    5.1

    Net exports, contribution to growth

    -0.1

    0.0

    -0.5

    0.6

    0.6

    0.8

    Memo items: GDP
    Broader Geographic Region (d)

    1.9

    3.0

    2.6

    3.8

    4.4

    4.1

    High Income Oil Exporters (h)

    3.1

    3.5

    2.7

    2.7

    3.0

    3.0

    Developing Oil Exporters

    -1.0

    2.3

    1.7

    6.2

    7.0

    5.6

    Developing Oil Importers

    2.9

    2.8

    3.5

    3.5

    4.1

    4.4

    Egypt, Arab Rep.

    2.2

    3.2

    4.0

    4.1

    4.6

    4.8

    Fiscal year basis

    2.1

    2.2

    4.2

    3.8

    4.4

    4.8

    Iran, Islamic Rep.

    -1.9

    4.3

    1.9

    5.8

    6.7

    6.0

    Algeria

    2.8

    3.8

    2.8

    3.9

    4.0

    3.8

    Source: World Bank

    Notes: World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not differ at any given moment in time. In keeping with national practice, data for Egypt is reported on a fiscal year basis. Aggregates that depend on this country are calculated using data compiled on a calendar year basis.

    a. GDP at market prices and expenditure components are measured in constant 2010 U.S. dollars. Excludes Syria and Yemen due to data limitations.

    b. Sub-region aggregate excludes Djibouti, Iraq, Libya, and West Bank and Gaza, for which data limitations prevent the forecasting of GDP components.

    c. Exports and imports of goods and non-factor services (GNFS).

    d. Includes developing MENA and the following high-income countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates.

    e. Includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates.

    Middle East and North Africa economy forecastsa

    (Real GDP growth at market prices in percent, unless indicated otherwise)

     

    2013

    2014

    2015e

    2016f

    2017f

    2018f

    Algeria

    2.8

    3.8

    2.8

    3.9

    4.0

    3.8

    Djibouti

    5.0

    6.0

    6.5

    7.0

    7.1

    7.0

    Egypt, Arab Rep.

    2.2

    3.2

    4.0

    4.1

    4.6

    4.8

      Fiscal year basis

    2.1

    2.2

    4.2

    3.8

    4.4

    4.8

    Iran, Islamic Rep.

    -1.9

    4.3

    1.9

    5.8

    6.7

    6.0

    Iraq

    4.2

    -0.5

    0.5

    3.1

    7.1

    6.5

    Jordan

    2.8

    3.1

    2.5

    3.5

    3.8

    4.0

    Lebanon

    3

    2.0

    2.0

    2.5

    2.5

    3.0

    Libya

    -13.7

    -24

    -5.2

    35.7

    27.6

    8.4

    Morocco

    4.7

    2.4

    4.7

    2.7

    4.0

    4.0

    Tunisia

    2.9

    2.7

    0.5

    2.5

    3.3

    4.5

    West Bank and Gaza

    2.2

    -0.4

    2.9

    3.9

    3.7

    3.7

      Recently transitioned to high-income economies (b)
    Oman

    3.9

    2.9

    3.7

    3.2

    3.0

    2.5

    Saudi Arabia

    2.7

    3.5

    2.8

    2.4

    2.9

    2.9

    Source: World Bank

    Notes: World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not significantly differ at any given moment in time. Data for Syria and Yemen are excluded due to data limitations.
    In keeping with national practice, data for Egypt is reported on a fiscal year basis. Aggregates that depend on this country are calculated using data compiled on a calendar year basis.

    a. American Samoa, Democratic People's Republic of Korea, Kiribati, Marshall Islands, Micronesia, Federated States, Palau, Samoa, and Tuvalu are not forecast due to data limitations.

    b. Non-oil GDP. Timor-Leste's total GDP, including the oil economy, is roughly four times the non-oil economy, and highly volatile, sensitive to changes in global oil prices and local production levels.

  • South Asia

    In South Asia, economic growth is projected to be a bright spot in an otherwise gloomy outlook for emerging and developing economies, with growth speeding up to 7.3 percent in 2016 from 7 percent in the year just ended, according to the January 2016 issue of Global Economic Prospects. The region has relatively little trade exposure to slowing demand in major emerging markets, and is a net importer of oil and will benefit from lower global energy prices. For fiscal year 2016-17, India, the dominant economy in the region, is projected to grow at a faster 7.8 percent and growth in Pakistan (on a factor cost basis) is expected to accelerate to 4.5 percent.
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    South Asia regional forecast

    (Annual percent change unless indicated otherwise)
     

    2013

    2014

    2015e

    2016f

    2017f

    2018f

    South Asia, GDP (a,b)

    6.2

    6.8

    7.0

    7.3

    7.5

    7.5

    (Average including countries with full national accounts and balance of payment sdata only) (c)
    South Asia, GDP (c)

    6.2

    6.9

    7.0

    7.3

    7.5

    7.6

    GDP per capita, (U.S. dollars)

    4.8

    5.5

    5.6

    6.0

    6.2

    6.2

    PPP GDP (c)

    6.2

    6.9

    7.0

    7.3

    7.5

    7.5

    Private consumption

    5.5

    6.0

    6.5

    6.6

    6.3

    6.2

    Public consumption

    6.5

    7.1

    8.1

    7.5

    6.6

    6.4

    Fixed investment

    2.3

    4.2

    4.7

    9.1

    11.4

    11.5

    Exports, GNFS (d)

    6.7

    1.8

    2.3

    4.0

    5.0

    5.7

    Imports, GNFS (d)

    -3.3

    -1.9

    1.6

    4.6

    5.8

    6.5

    Net exports, contribution to growth

    2.8

    1.1

    0.1

    -0.3

    -0.4

    -0.5

    Memo Item: GDP (b)
    South Asia excluding India

    5.0

    5.4

    5.7

    5.8

    6.0

    6.0

    India

    6.9

    7.3

    7.3

    7.8

    7.9

    7.9

    Pakistan

    4.4

    4.7

    5.5

    5.5

    5.4

    5.4

    Bangladesh

    6.1

    6.5

    6.5

    6.7

    6.8

    6.8

    Source: World Bank

    Notes: World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not differ at any given moment in time. In keeping with national practice, data for Bangladesh, India, and Pakistan are reported on a fiscal year basis. Aggregates that depend on these countries are calculated using data compiled on a calendar year basis.

    a. GDP at market prices and expenditure components are measured in constant 2010 U.S. dollars.

    b. National income and product account data refer to fiscal years (FY) for the South Asian countries, while aggregates are presented in calendar year (CY) terms. The fiscal year runs from July 1 through June 30 in Bangladesh, Bhutan, and Pakistan, from July 16 through July 15 in Nepal, and April 1 through March 31 in India. 2014 data for India, Pakistan, and Bangladesh cover FY2014/15.

    c. Sub-region aggregate excludes Afghanistan, Bhutan, and Maldives, for which data limitations prevent the forecasting of GDP components.

    d. Exports and imports of goods and non-factor services (GNFS).

    South Asia economy forecasts

    (Real GDP growth at market prices in percent, unless indicated otherwise)
     

    2013

    2014

    2015e

    2016f

    2017f

    2018f

    Afghanistan

    2.0

    1.3

    1.9

    3.1

    3.9

    5.0

    Bangladesh

    6.3

    6.5

    6.6

    6.8

    6.8

    6.8

    Bhutan

    3.9

    6.3

    6.8

    7.2

    5.6

    6.0

    India

    6.4

    7.2

    7.3

    7.7

    7.9

    7.9

    Maldives

    4.2

    5.9

    4.4

    3.1

    4.2

    4.5

    Nepal

    4.7

    4.4

    2.6

    3.7

    5.1

    4.5

    Pakistan (market prices)

    4.6

    5.1

    5.5

    5.5

    5.4

    5.4

    Pakistan (factor cost)

    ..

    ..

    ..

    ..

    ..

    ..

    Sri Lanka

    3.4

    4.5

    5.3

    5.6

    6.0

    6.0

    Source: World Bank

    Notes: World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not significantly differ at any given moment in time. In keeping with national practice, data for Bangladesh, India, and Pakistan are reported on a fiscal year basis. Aggregates that depend on these countries are calculated using data compiled on a calendar year basis.

    a. Historical data is reported on a market price basis. National income and product account data refer to fiscal years (FY) for the South Asian countries with the exception of Afghanistan, Maldives and Sri Lanka, which report in calendar year (CY). The fiscal year runs from July 1 through June 30 in Bangladesh, Bhutan, and Pakistan, from July 16 through July 15 in Nepal, and April 1 through March 31 in India. 2014 fiscal year data, as reported in the table for India, Pakistan, Bangladesh, Nepal, cover FY2014/15. GDP figures presented in calendar years (CY) terms for Bangladesh, Nepal, Bhutan, and Pakistan are calculated taking the average growth over the two fiscal year periods to provide an approximation of CY activity. Historical GDP data in CY terms for India are the sum of GDP in the four calendar quarters.

  • Sub-Saharan Africa

    Sub-Saharan Africa faces a challenging near-term outlook, according to the January 2016 issue of Global Economic Prospects. Commodity prices are expected to stabilize but remain low through 2017. The normalization of U.S. monetary policy is expected to tighten global financial conditions. Although governments are taking steps to resolve power issues, electricity supply bottlenecks are expected to persist. These factors point to a somewhat weaker recovery in 2016 than previously anticipated. After slowing to 3.4 percent in 2015, activity is expected to pick up to 4.2 percent in 2016 and to 4.7 percent in 2017-18.
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    Sub-Saharan Africa regional forecast

    (Annual percent change unless indicated otherwise)
     

    2013

    2014

    2015e

    2016f

    2017f

    2018f

    Developing SSA, GDP (a)

    4.9

    4.6

    3.4

    4.2

    4.7

    4.7

    (Average including countries with full national accounts and balance of payments data only)(b)
    Developing SSA, GDP (b)

    4.8

    4.6

    3.5

    4.2

    4.7

    4.7

    GDP per capita (units in US$)

    2.0

    1.9

    0.8

    1.5

    2.0

    2.0

    PPP GDP

    5.0

    4.9

    3.7

    4.4

    4.9

    5.0

    Private consumption (c)

    9.9

    3.2

    3.1

    3.7

    4.0

    4.1

    Public consumption

    1.9

    3.9

    3.2

    3.5

    3.7

    3.8

    Fixed investment

    9.6

    8.7

    6.2

    6.6

    7.1

    7.2

    Exports, GNFS (d)

    -2.2

    5.0

    2.1

    2.6

    2.9

    2.9

    Imports, GNFS (d)

    6.8

    3.0

    3.0

    3.1

    3.2

    3.2

    Net exports, contribution to growth

    -2.8

    0.5

    -0.3

    -0.2

    -0.2

    -0.2

    Memo Items: GDP
    Broader geographic region (including high income countries) *

    4.8

    4.5

    3.3

    4.2

    4.6

    4.7

    SSA excluding South Africa

    5.8

    5.7

    4.1

    5.1

    5.7

    5.7

    Oil Exporters (f)

    5.5

    5.4

    3.3

    4.5

    5.2

    5.2

    CFA countries (g)

    4.6

    5.5

    4.4

    5.7

    6.0

    5.9

    South Africa

    2.2

    1.5

    1.3

    1.4

    1.6

    1.6

    Nigeria

    5.4

    6.3

    3.3

    4.6

    5.3

    5.3

    Angola

    6.8

    3.9

    3.0

    3.3

    3.8

    3.8

    Source: World Bank

    Notes: World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not differ at any given moment in time.

    a. GDP at market prices and expenditure components are measured in constant 2010 U.S. dollars. Excludes Somalia, Central African Republic, and São Tomé and Principe.

    b. Sub-region aggregate excludes Liberia, Somalia, Central African Republic, São Tomé and Principe, and South Sudan, for which data limitations prevent the forecasting of GDP components.

    c. The sudden surge in private consumption in the region in 2013 is driven by the revised and rebased NIA data of Nigeria in 2014.

    d. Exports and imports of goods and non-factor services (GNFS).

    e. Includes developing SSA and the following high-income countries: Equatorial Guinea and Seychelles.

    f. Includes Angola; Cote d'Ivoire; Cameroon; Congo, Rep.; Gabon; Nigeria; Sudan; Chad; and Congo, Dem. Rep.

    g. Includes Benin; Burkina Faso; Central African Republic; Cote d'Ivoire; Cameroon; Congo, Rep.; Gabon; Equatorial Guinea; Mali; Niger; Senegal; Chad; and Togo.

    Sub-Saharan Africa economy forecastsa

    (Real GDP growth at market prices in percent, unless indicated otherwise)
     

    2013

    2014

    2015e

    2016f

    2017f

    2018f

    Angola

    6.8

    3.9

    3.0

    3.3

    3.8

    3.8

    Benin

    5.6

    5.4

    5.7

    5.3

    5.1

    5.1

    Botswana (b)

    9.3

    4.4

    3.0

    4.0

    4.2

    4.2

    Burkina Faso

    6.7

    4.0

    4.4

    6.0

    7.0

    7.0

    Burundi

    4.6

    4.7

    -2.3

    3.5

    4.8

    4.8

    Cabo Verde

    1.0

    1.8

    2.9

    3.5

    4.1

    4.1

    Cameroon

    5.6

    5.9

    6.3

    6.5

    6.5

    6.4

    Chad

    5.7

    7.3

    4.1

    4.9

    6.1

    6.5

    Comoros

    3.5

    3.0

    2.3

    2.5

    3.1

    3.1

    Congo, Dem. Rep.

    8.5

    9.0

    8.0

    8.6

    9.0

    9.0

    Cote d'Ivoire

    9.2

    8.5

    8.4

    8.3

    8.0

    8.0

    Eritrea

    1.3

    1.7

    0.9

    2.0

    2.2

    2.2

    Ethiopia (b)

    10.5

    9.9

    10.2

    10.2

    9.0

    9.0

    Gabon

    4.3

    4.3

    4.1

    5.1

    5.3

    5.3

    Gambia, The

    4.8

    -0.2

    4.0

    4.5

    5.3

    5.3

    Ghana

    7.3

    4.0

    3.4

    5.9

    8.2

    8.2

    Guinea

    2.3

    -0.3

    0.4

    3.5

    4.0

    4.2

    Guinea-Bissau

    0.3

    2.5

    4.4

    4.9

    5.3

    5.3

    Kenya

    5.7

    5.3

    5.4

    5.7

    6.1

    6.1

    Lesotho

    4.6

    2.0

    2.6

    2.8

    4.5

    4.5

    Liberia

    8.7

    1.0

    3.0

    5.7

    6.8

    6.8

    Madagascar

    2.4

    3.0

    3.2

    3.4

    3.6

    3.6

    Malawi

    5.2

    5.7

    2.8

    5.0

    5.8

    5.8

    Mali

    1.7

    7.2

    5.0

    5.0

    5.0

    5.0

    Mauritania

    5.5

    6.9

    3.2

    4.0

    4.0

    4.0

    Mauritius

    3.3

    3.6

    3.5

    3.7

    3.7

    3.7

    Mozambique

    7.3

    7.4

    6.3

    6.5

    7.2

    7.2

    Namibia

    5.7

    6.4

    5.0

    5.5

    5.9

    5.9

    Niger

    4.6

    6.9

    4.4

    5.3

    9.3

    5.7

    Nigeria

    5.4

    6.3

    3.3

    4.6

    5.3

    5.3

    Rwanda

    4.7

    7.0

    7.4

    7.6

    7.6

    7.6

    Senegal

    3.5

    3.9

    5.0

    5.3

    5.3

    5.3

    Sierra Leone

    20.1

    7.0

    -20.0

    6.6

    5.3

    5.3

    South Africa

    2.2

    1.5

    1.3

    1.4

    1.6

    1.6

    South Sudan

    13.1

    3.4

    -5.3

    3.5

    7.0

    7.0

    Sudan

    3.3

    3.1

    3.5

    3.4

    3.9

    3.9

    Swaziland

    2.8

    2.5

    1.3

    0.8

    0.8

    0.8

    Tanzania, United Rep.

    7.3

    7.0

    7.2

    7.2

    7.1

    7.1

    Togo

    5.1

    5.7

    5.1

    4.9

    4.7

    4.7

    Uganda (b)

    3.6

    4.0

    5.0

    5.0

    5.8

    5.8

    Zambia

    6.7

    5.6

    3.5

    3.8

    5.4

    6.0

    Zimbabwe

    4.5

    3.2

    1.0

    2.8

    3.0

    3.0

    Recently transitioned to high-income countries (c)
    Equatorial Guinea

    -4.8

    -3.1

    -9.3

    2.3

    -0.4

    -0.2

    Seychelles

    6.6

    2.8

    3.5

    3.7

    3.6

    3.6

    Source: World Bank

    Notes: World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not significantly differ at any given moment in time.

    a. Somalia, Central African Republic, and São Tomé and Principe are not forecast due to data limitations.

    b. Botswana, Ethiopia, and Uganda use fiscal-year based numbers.

    c. Based on the World Bank's reclassification from 2004 to 2015.

Topical Issues

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Who Catches a Cold When Emerging Markets Sneeze?

Since 2010, a synchronous growth slowdown has been underway in emerging markets. Given the size and integration with the global economy of the largest emerging markets, the BRICS (Brazil, Russian Federation, India, China, and South Africa), a slowdown in these economies could have significant spillovers to the rest of the world through trade and financial flows, according to the January 2016 issue of Global Economics Prospects. A 1 percentage point decline in BRICS growth would lower growth in other emerging markets by 0.8 percentage point, ... See More

Topical Issues

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Potential Implications of the Trans-Pacific Partnership Agreement

On October 4, 2015, 12 Pacific Rim countries concluded negotiations on the Trans-Pacific Partnership trade agreement. If ratified, the agreement could raise member country GDP by an average of 1.1 percent by 2030, and increase trade by 11 percent over the same period, according to an analysis in the January 2016 Global Economic Prospects report. To the extent that the agreement has positive spillovers to non-members, detrimental effects—through trade diversion and preference erosion—could be limited. The largest gains in GDP are expected in sma... See More

Topical Issues

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Exchange Rate Regimes and Capital Controls

In preparation against rising risks, exchange rate regimes and capital account policies are key policy choices for emerging and developing countries. Developing countries are more likely to opt for capital flow restrictions if they also have fixed exchange rates, according to an analysis in the January 2016 Global Economic Prospects report. This positive association between pegs and capital controls appears to be more prevalent at lower levels of development (as proxied by income per capita). This finding suggests that lower-income developing c... See More

Topical Issues

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From Commodity Discovery to Production in Low-Income Countries

Major resource discoveries have transformed growth prospects for many low-income countries. However, weak commodity prices have led to concerns about delays in transforming these discoveries into actual production, according to an analysis in the January 2016 Global Economic Prospects report. Such lags are creating macroeconomic vulnerabilities, such as fiscal and current account pressures, in the pre-production period. Improved governance and sound macroeconomic policy, such as low public-debt levels and low inflation, can reduce production l... See More

Topical Issues

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Regional Integration and Spillovers

BRICS, the largest and most integrated economies in their respective regions, tend to generate larger spillovers than other major emerging markets. This analysis finds that strong within-region trade and remittance links are reflected in sizeable spillovers in Europe and Central Asia from a growth decline in Russia, and in East Asia and Pacific from a growth decline in China. In other regions, measured within-region spillovers are typically small, partly reflecting the lesser openness of major regional emerging markets or the prevalence of inte... See More

Data

Generate Custom Dataset

Create your own custom dataset of World Bank GDP growth data. First, select a country grouping from the dropdown. (The "Global Outlook" – covering all regions and income groupings – is shown by default.) Second, add additional country groupings or specific countries (maximum of 7). Third, click on "Export to Excel." This data is published in the Global Economic Prospects (PDF, 22MB) report.

Source: World Bank.

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