|Unit||Billions National Currency|
|Source||International Monetary Fund (IMF)|
|Release||International Monetary Fund - World Economic Outlook (WEO)|
The World Economic Outlook (WEO) database contains projections of national accounts, inflation, unemployment rates, balance of payments, fiscal indicators, trade for countries and country groups (aggregates), and commodity prices for the world, major country groups (classified by region, stage of development, etc.), and many selected individual countries. The WEO is updated twice a year in April and September.
Data are available from 1980 to the present, and projections are given for the next two years. Exact availability will vary greatly from country to country.
A number of assumptions have been adopted by the IMF for the projections presented in the World Economic Outlook. It has been assumed that real effective exchange rates will remain constant at their average levels during July 5–August 2, 2006, except for the currencies participating in the European exchange rate mechanism II (ERM II), which are assumed to remain constant in nominal terms relative to the euro; that established policies of national authorities will be maintained; that the average price of oil will be $69.20 a barrel in 2006 and $75.50 a barrel in 2007, and remain unchanged in real terms over the medium term; that the six-month London interbank offered rate (LIBOR) on U.S. dollar deposits will average 5.4% in 2006 and 5.5% in 2007; that the three-month euro deposits rate will average 3.1% in 2006 and 3.7% in 2007; and that the six-month Japanese yen deposit rate will yield an average of 0.5% in 2006 and of 1.1% in 2007. These are, of course, working hypotheses rather than forecasts, and the uncertainties surrounding them add to the margin of error that would in any event be involved in the projections. The estimates and projections are based on statistical information available through end-August 2006.
In line with recent improvements in standards of reporting economic statistics, several countries have phased out their traditional fixed-base-year method of calculating real macroeconomic variables levels and growth by switching to a chain-weighted method of computing aggregate growth. Recent dramatic changes in the structure of these economies have obliged these countries to revise the way in which they measure real GDP levels and growth. Switching to the chain-weighted method of computing aggregate growth, which uses current price information, allows countries to measure GDP growth more accurately by eliminating upward biases in new data. Currently, real macroeconomic data for Albania, Australia, Austria, Azerbaijan, Canada, Czech Republic, Denmark, euro area, Finland, Georgia, Germany, Greece, Iceland, Ireland, Italy, Japan, Kazakhstan, Lithuania, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Russia, Slovenia, Spain, Sweden, Switzerland, the United Kingdom, and the United States are based on chain-weighted methodology. However, data before 1996 (Albania), 1988 (Austria), 1995 (Czech Republic), 1990 (Denmark), 1995 (euro area), 1991 (Germany), 1995 (Greece), 1990 (Iceland), 1994 (Japan), 1995 (Luxembourg), 1987 (New Zealand), 1995 (Russia), 1995 (Slovenia), and 1995 (Spain) are based on unrevised national accounts and subject to revision in the future.
All data refer to calendar years, except for the following countries, which refer to fiscal years: Australia (July/June); Bangladesh (July/June); Egypt (July/June); Iran, I.R. of, (March/February); Mauritius (July/June); Myanmar (April/March); Nepal (July/June); Netherlands Antilles, (February/January); New Zealand (July/June); Pakistan (July/June); Samoa (July/June); and Tonga (July/June).
The following conventions have been used throughout the WEO:
* Domestic economy series are expressed in billions of national currency units.
* External accounts series are expressed in billions of U.S. dollars.
* Billion means a thousand million.
Advanced Economies [IIMAE]
Euro Area [IEUZN]
Major Advanced Economies (G7)[IMAJ7]
Other Advanced Economies (Advanced Economies excluding G7 and Euro Area) [IIMAO]
European Union [IEU25]
Emerging and Developing Economies [IEMDE]
Emerging and Developing Asia [IIMDS]
Emerging and Developing Europe (IEDEU)
Emerging and Developing Europe Pre-2019 Definition (Archived with "_G19")[IEDEU]
Latin America and the Caribbean [ILACA]
Middle East and Central Asia [IMECA]
Sub-Saharan Africa [IIMSS]
Commonwealth of Independent States (CIS) [ICISM] - Discontinued
Middle East, North Africa, Afghanistan, and Pakistan [IMENA_AP] - Discontinued
Middle East and North Africa [IMENA] - Discontinued
https://www.imf.org/external/pubs/ft/weo/data/changes.htm>> Groups and Aggregates
Data are updated and revised twice a year.