TABLE 1.2.4
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.