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Selected external financial indicators for the south-east European economies, 1998

(Billion and million dollars, per cent)

 

Current account/GDP (per cent)

Gross debt (billion dollars)

Gross debt/exports (per cent) a

Gross debt/GDP (per cent)

Net FDI/ current account b (per cent)

Cumulative FDI inflow/ per capita c (dollars)

Official reserves (million dollars)

Reserves in months of imports a

Credit Ratings Moody's/ S&P d

Albania

-6.4

0.8

213

26

19

120

349

4.5

-

Bosnia and Herzegovina

-38.5*e

4.8

624

117

..

..

859

3.3

-

Bulgaria

-2.1

10.1

173

82

159

162

2 831

5.4

B2/B

Croatia

-7.3

8.5

95

40

49

469

2 816

3.0

Baa3/BBB-

Romania

-7.9

9.6

99

25

68

199

1 663

1.5

B3/B-

The former Yugoslav Republic of Macedonia f

-8.2

1.2

83

34

41

89

306

1.8

-

Yugoslavia g

-4.6*

15.1

638

58

..

..

200

0.5

-

CETE-5

-4.1

110.7

90

37

77

681

54 876

4.5

..

SETE-7 h

-6.8

30.1

115

38

63

236

7 965

2.8

..

Eastern Europe h

-4.6

140.8

94

37

73

503

62 840

4.2

..

Source: National statistics; IMF, International Financial Statistics (Washington, D.C.), June 1999; IMF estimates for the gross debt of Albania, Bosnia and Herzegovina and the Russian Federation; World Bank for the gross debt of Yugoslavia; press reports; UN/ECE secretariat estimates.

a Exports of merchandise and services and income receipts. Total imports of merchandise and services and income payments. For Poland, excludes net receipts from non-classified current account items.

b FDI flows are net.

c Cumulated since 1989.

d International credit ratings by Moody's and Standard & Poor's. Croatia's ratings are investment grade.

e Excluding official transfers.

f Gross debt includes only medium- and long-term debt.

g The estimate of the current account balance has been adjusted to exclude imports for outward processing (see text). Gross debt and exports of goods and services are for 1997.

h Excluding Bosnia and Herzegovina and Yugoslavia.

 

 

 

TABLE 1.3.1

Trade of the south-east European transition economies: exports and imports by direction, 1997
(Million dollars, per cent)

 

Albania

Bosnia and Herzegovina

Bulgaria

Croatia

Romania

The former Yugoslav Republic of Macedonia

Yugoslavia a

Exports to:

 

 

 

 

 

 

 

World (million dollars)

141

193

4 914

4 171

8 431

1 075

2 376

Share in total exports (per cent)

100.0

100.0

100.0

100.0

100.0

100.0

100.0

North Europe

88.9

28.2

46.8

67.1

61.9

50.2

58.3

EU and EFTA

87.9

17.7

44.2

50.9

57.8

44.0

54.7

CEFTA-5 and BAFTA

1.0

10.5

2.6

16.1

4.1

6.2

3.6

South-east Europe

7.1

60.2

6.7

18.6

2.9

16.3

27.8

Albania

..

0.1

0.5

0.1

-

1.1

-

Bosnia and Herzegovina

-

..

0.1

15.6

0.1

0.1

15.8

Bulgaria

-

0.1

..

0.2

0.7

1.9

1.5

Croatia

4.2

57.0

0.3

..

0.2

3.6

-

Romania

-

-

1.3

0.4

..

0.4

1.9

The former Yugoslav Republic of Macedonia

2.6

1.8

2.0

1.9

0.1

..

8.6

Yugoslavia

0.3

1.2

2.5

0.5

1.7

9.3

..

CIS

-

1.7

17.4

4.7

6.2

11.4

6.5

Other countries

4.0

9.9

29.1

9.6

29.0

22.0

7.4

Memorandum items:

 

 

 

 

 

 

 

Greece

20.3

-

8.3

0.4

2.1

1.7

4.5

Turkey

0.9

0.4

9.0

0.2

4.2

2.5

0.4

Imports from:

 

 

 

 

 

 

 

World (million dollars)

620

1 555

4 886

9 104

11 280

1 808

4 801

Share in total imports (per cent)

100.0

100.0

100.0

100.0

100.0

100.0

100.0

North Europe

87.8

72.7

42.3

76.9

59.7

58.0

54.5

EU and EFTA

84.9

51.8

38.3

62.1

54.0

45.5

49.1

CEFTA-5 and BAFTA

2.9

21.0

4.1

14.8

5.7

12.4

5.4

South-east Europe

5.6

20.1

2.3

2.6

1.2

22.4

16.7

Albania

..

-

-

-

-

0.2

-

Bosnia and Herzegovina

-

..

-

1.5

0.1

0.1

5.6

Bulgaria

2.7

0.1

..

0.2

0.5

5.3

2.8

Croatia

0.4

19.0

0.2

..

0.1

4.7

-

Romania

0.3

0.1

1.2

0.3

..

0.7

2.3

The former Yugoslav Republic of Macedonia

2.1

0.7

0.1

0.5

-

..

6.0

Yugoslavia

0.1

0.1

0.8

0.1

0.5

11.5

..

CIS

0.5

0.4

32.8

5.5

14.9

6.9

10.1

Other countries

6.0

6.7

22.5

15.1

24.2

12.7

18.8

Memorandum items:

 

 

 

 

 

 

 

Greece

26.6

0.1

4.2

0.2

1.7

2.1

3.7

Turkey

4.4

1.6

2.1

0.3

1.9

4.7

1.2

Source: National statistics; for The former Yugoslavia Republic of Macedonia, IMF, Direction of Trade Statistics, December 1998.

Note: CEFTA-5: Czech Republic, Hungary, Poland, Slovakia and Slovenia. BAFTA: Estonia, Latvia and Lithuania.

a Shares are based on revised data for January-September 1997.

TABLE 2.2.2

Real GDP in the developed market economies, 1996-1999
(Percentage change over previous year)

 

1996

1997

1998

1999 a

Western Europe

1.9

2.7

2.6

1.8

4 major countries

1.2

2.1

2.2

1.5

France b

1.1

2.0

3.2

2.3

Germany b

0.8

1.8

2.3

1.5

Italy

0.9

1.5

1.4

1.5

United Kingdom b

2.6

3.5

2.1

0.7

17 smaller countries

3.1

3.9

3.4

2.4

Austria

2.0

2.5

3.3

2.2

Belgium b

0.9

3.2

2.9

2.0

Cyprus

2.0

2.5

5.0

4.0

Denmark b

3.3

3.1

2.9

1.6

Finland b

4.1

5.5

4.7

3.0

Greece

2.4

3.2

3.5

3.0

Iceland

5.6

5.4

5.0

5.0

Ireland

7.4

9.8

8.5

6.5

Israel

4.7

2.7

2.0

1.7

Luxembourg

3.0

4.7

5.7

3.3

Malta

3.8

4.4

7.6

7.5

Netherlands

3.1

3.6

3.7

2.2

Norway b

5.5

3.4

2.1

1.0

Portugal

3.2

3.7

3.9

3.0

Spain

2.4

3.5

3.8

3.3

Sweden

1.3

1.8

2.9

2.0

Switzerland

0.3

1.7

2.1

1.3

Turkey

7.0

7.5

2.8

1.4

North America

3.3

3.9

3.8

3.4

Canada b

1.7

4.0

3.1

2.8

United States

3.4

3.9

3.9

3.5

Total above

2.6

3.3

3.2

2.6

Japan

5.0

1.4

-2.8

-1.4

Total above, including Japan

3.0

3.0

2.3

2.0

Memorandum items:

 

 

 

 

European Union

1.6

2.5

2.6

1.9

Euro area

1.4

2.3

2.7

2.1

Source: National statistics and national economic reports.

Note: All aggregates exclude Israel. Growth rates of regional aggregates have been calculated as weighted averages of growth rates in individual countries. Weights were derived from 1991 GDP data converted from national currency units into dollars using purchasing power parities.

a Forecasts.

b Data corresponds to new SNA93 or ESA95 definitions.

 

 

 

 

 

TABLE 2.3.3

GDP and industrial output in the ECE transition economies, 1998-1999
(Percentage change over the same period of the preceding year)

 

GDP

Industrial output

 

1998

1999

1998

1999

 

Jan.-Mar.

Jan.-Jun.

Jan.-Sept.

Jan.-Dec.

Jan.-Mar.

Jan.-Mar.

Jan.-Jun.

Jan.-Sept.

Jan.-Dec.

Jan.-Mar.

Eastern Europe

3.1

3.0

2.4

1.5

..

5.8

4.3

3.4

1.4

-4.0

Albania

..

..

..

8*

..

-11.7

1.8

11.6

10*

20.7

Bosnia and Herzegovina

..

..

..

..

..

14.2

21.1

25.4

23.8

11.7

Bulgaria

18.9

11.9

4.3

3.5

..

6.2

-0.7

-6.7

-9.4

-16.2

Croatia

3.5

3.7

3.9

2.7

..

6.4

5.8

6.8

3.7

-3.6

Czech Republic

-0.9

-1.7

-2.1

-2.7

-4.5

8.4

6.7

5.0

1.6

-9.1

Hungary

4.5

4.8

5.1

5.1

..

13.6

13.6

13.6

12.6

7.2

Poland

6.4

5.8

5.5

4.8

1.5

11.0

8.4

7.0

4.7

-2.6

Romania

-9.4

-5.2

-5.7

-7.3

..

-21.8

-19.0

-17.0

-17.0

-9.6

Slovakia

6.2

6.2

5.8

4.4

1.8

4.7

5.3

6.4

5.0

3.8

Slovenia

6.1

4.3

4.1

3.9

..

9.8

4.2

4.5

3.7

-3.0

The former Yugoslav Republic of Macedonia

..

..

..

2.9

..

8.3

9.6

7.9

4.5

-13.3

Yugoslavia

..

..

..

2.6

..

15.9

12.3

7.0

3.6

-15.0

Baltic states

8.7

8.4

6.3

4.4

..

11.3

9.6

7.6

4.2

-10.4

Estonia

9.8

7.9

5.8

4.0

-5.8

11.4

7.9

3.9

0.5

-11.5

Latvia

8.9

7.2

5.4

3.6

..

14.7

11.2

7.0

2.0

-12.5

Lithuania

8.1

9.3

7.0

5.1

..

9.8

9.8

9.5

7.0

-9.1

CIS

1.1

0.5

-1.4

-2.8

..

2.5

1.3

-1.9

-3.1

-1.4

Armenia

6.4

6.7

6.9

7.2

4.6

4.3

3.2

0.6

-2.5

-4.4

Azerbaijan

8.2

9.1

8.5

10.0

6.2

0.2

0.7

1.1

2.2

4.1

Belarus

13.0

12.5

10.0

8.3

1.3

14.6

13.5

10.8

11.0

4.1

Georgia

11.2

8.9

7.3

2.9

1.2

-3.2

0.8

-1.2

-2.7

-5.7

Kazakhstan

1.9

1.7

-

-2.5

-3.6

3.8

1.1

-1.2

-2.1

-4.1

Kyrgyzstan

11.5

5.0

1.4

1.8

0.3

52.1

23.5

9.7

4.6

-4.6

Republic of Moldova

-4.2

-4.7

-4.7

-8.6

..

3.4

2.3

-5.7

-11.0

-27.1

Russian Federation a

-

-0.9

-3.3

-4.6

-3.7

1.3

0.1

-3.9

-5.2

-2.0

Tajikistan

1.3

2.6

6.5

5.3

2.4

9.5

12.5

8.7

8.1

4.4

Turkmenistan

-8.0

3.0

4.4

5.0

13.0

-11.0

-5.0

2.0

0.2

15.0

Ukraine

-0.2

0.2

-0.5

-1.7

-4.8

1.7

0.7

-0.3

-1.5

-2.4

Uzbekistan

3.3

4.0

4.4

4.4

2.9

4.3

5.5

6.1

5.8

4.7

Total above

2.0

1.6

0.2

-1.1

..

4.1

2.8

0.6

-1.0

-2.8

Memorandum items:

 

 

 

 

 

 

 

 

 

 

CETE-5

4.5

4.0

3.8

3.1

..

10.3

8.4

7.4

5.1

-2.1

SETE-7

-0.7

0.4

-1.1

-2.6

..

-7.1

-7.2

-7.9

-9.3

-10.5

Former GDR

3.6

1.7

1.7

2.0

..

..

..

..

7.5

..

Source: National statistics; CIS Statistical Committee and direct communications from national statistical offices to UN/ECE secretariat (IMF and World Bank data for Albania).

Note: Industrial output figures above are based on monthly statistical reporting. Because of differences in coverage, monthly cumulative figures for 1998 as a whole differ slightly from reported annual figures for some countries. For these countries reported annual figures have been used. On regional aggregates see the note to table 2.3.1.

a Reported quarterly GDP figures for Russia are volume indices of the gross output in industry, agriculture, construction, transport and retail trade which covers about 70 per cent of total output at basic prices.


© United Nations Economic Commissions for Europe – 2013