Major Economic Indicators (2001 ­ 2013)
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
255.3
262.7
271.1
281.1
289.9
299.8
309.8
322.1
333.2
323.4
332.1
338.9
347.8
85.9
84.7
89.2
95.9
98.6
102.2
111.8
114.5
120.5
100.7
n.a
126.7
131.4
9.1
10.0
12.9
11.6
11.0
9.4
8.5
8.2
13.1
23.3
n.a
14.4
11.7
GDP at Current Market Prices ($mn)
1,743.7
1,865.1
1,980.7
2,115.7
2,228.4
2,434.9
2,581.1
2,739.2
2,677.0
2,796.7
2,977.8
3,145.2
3,230.7
Per Capita GDP ($, Current Mkt. Prices)
6,830.1
7,099.7
7,306.3
7,526.1
7,687.6
8,122.8
8,332.7
8,504.2
8,034.3
8,647.9
8,966.5
9,279.6
9,288.3
5.0
5.1
9.3
4.6
3.0
4.7
1.2
3.8
0.3
3.1
2.1
4.0
0.7
Primary Activities
14.4
13.3
16.9
18.1
18.1
15.8
12.4
13.1
13.4
13.9
13.0
13.4
13.1
Secondary Activities
17.2
17.2
15.2
15.1
14.6
17.9
18.1
18.6
21.5
20.0
19.1
17.5
16.5
Services
57.6
55.2
53.7
57.8
58.7
57.5
60.4
58.9
59.5
53.4
54.1
54.6
55.3
POPULATION AND EMPLOYMENT
Population (Thousands)
Employed Labour Force (Thousands)
Unemployment Rate (%)1
INCOME
Real GDP Growth (%)
Sectoral Distribution of Constant 2000 GDP (%)
MONEY AND PRICES ($mn)
Inflation (Annual average percentage change)
Currency and Demand deposits (M1)
Quasi‐Money (Savings and Time deposits)
Annual Change of Money Supply (%)
Ratio of M2 to GDP (%)
1.1
2.2
2.6
3.1
3.7
4.2
2.3
6.4
‐1.1
0.9
1.5
1.3
0.5
364.8
358.1
442.6
492.2
516.1
617.9
704.4
706.2
713.3
707.9
839.4
1,102.9
1121.9
676.0
705.3
659.7
756.1
815.8
887.1
1,031.7
1,260.4
1,379.9
1,377.1
1,361.9
1,340.7
1354.7
1,040.8
2.2
3.7
13.2
6.7
13.0
15.4
13.3
6.4
‐0.4
5.6
11.0
1.4
59.7
57.0
55.8
59.1
59.7
62.0
67.3
71.8
78.2
74.6
73.9
77.7
76.7
CREDIT ($mn)
Commercial Bank Loans and Advances
788.5
904.6
1,056.6
1,176.5
1,254.7
1,390.5
1,599.6
1,742.4
1,805.4
1,762.0
1,757.7
1,802.4
1,855.6
Public Sector
12.9
16.0
30.0
46.3
63.0
48.7
40.7
19.1
10.2
8.9
5.4
11.3
19.4
Private Sector
775.6
888.6
1,026.6
1,130.2
1,191.7
1,341.8
1,558.8
1,723.2
1,795.3
1,753.1
1,752.3
1,791.1
1,836.2
15.4
14.5
14.2
14.0
14.30
14.23
14.30
14.10
13.98
13.78
12.93
11.86
11.12
INTEREST RATE (%)
Weighted Average Lending Rate
Weighted Average Deposit Rate
4.3
4.5
4.9
5.2
5.50
5.75
5.97
6.35
6.12
5.61
3.65
2.55
2.17
11.1
10.0
9.3
8.8
8.80
8.48
8.33
7.75
7.86
8.17
9.28
9.31
8.95
Current Revenue
372.1
425.8
422.2
451.9
511.5
566.0
651.5
729.4
653.9
753.8
787.0
825.6
851.7
Current Expenditure
333.7
333.4
393.0
474.1
561.2
550.8
636.1
617.9
661.8
682.7
717.4
740.8
751.1
38.4
92.3
29.1
‐22.2
‐49.7
15.2
15.3
111.5
‐7.9
71.0
69.6
84.8
100.6
Weighted Average Interest Rate Spread
CENTRAL GOVERNMENT FINANCES ($mn)
Current Account Surplus(+)/Deficit(‐)
Capital Expenditure
Overall Surplus(+)/Deficit(‐)
Ratio of Budget Deficit to GDP at Market Prices (%)
Domestic Financing (Net)
2
External Financing (Net)3
BALANCE OF PAYMENTS (US $mn)
267.4
260.3
276.4
173.2
123.1
97.1
160.4
141.6
113.3
133.1
121.7
161.9
168.2
‐196.5
‐108.8
‐216.0
‐133.6
‐152.3
‐46.7
‐30.8
41.2
‐76.3
‐46.3
‐22.9
‐25.1
‐34.3
‐11.3
‐5.8
‐10.9
‐6.3
‐6.8
‐1.9
‐1.2
1.5
‐2.9
‐1.7
‐0.8
‐0.8
‐1.1
72.7
‐180.9
‐62.4
‐36.2
‐19.0
‐8.9
19.3
‐23.3
20.1
45.7
13.1
16.6
‐148.0
123.9
278.3
380.7
179.9
127.6
56.0
‐0.8
‐3.3
60.5
7.1
17.8
15.5
183.9
2001
4
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Merchandise Exports (f.o.b.)
269.1
309.7
315.5
308.4
325.2
427.1
425.6
480.1
383.6
478.4
603.7
621.6
608.6
Merchandise Imports (f.o.b.)
478.1
496.9
522.3
480.7
556.2
611.9
642.0
788.2
620.5
647.2
774.6
818.1
875.9
Trade Balance
‐209.0
‐187.2
‐206.8
‐172.3
‐231.0
‐184.8
‐216.4
‐308.2
‐236.9
‐168.9
‐170.9
‐196.6
‐267.3
26.4
24.3
29.3
30.9
40.9
57.8
70.8
74.1
76.2
76.1
73.0
73.6
72.2
110.5
121.5
149.7
168.1
213.6
254.7
283.6
272.6
237.8
244.9
248.5
299.0
351.0
Remittances (Inflows)
Tourism (Inflows)
Services (Net)
Current Account Balance
46.1
46.0
71.1
88.2
143.0
223.7
229.9
216.9
182.7
175.5
168.4
221.3
240.3
‐190.4
‐165.3
‐184.3
‐154.9
‐151.2
‐16.2
‐52.1
‐144.9
‐60.2
‐40.1
‐16.9
‐19.7
‐72.1
179.2
168.0
188.5
127.3
‐141.4
‐60.0
‐115.5
‐196.4
‐102.4
‐21.6
4.8
‐45.1
‐96.7
‐2.7
‐5.4
‐30.1
‐31.2
12.2
49.8
22.9
57.9
47.2
4.3
18.1
52.8
113.8
Capital and Financial Flows
Gross Change in Official International Reserves
Gross Official International Reserves 5
120.1
114.7
84.6
48.0
35.8
85.6
108.5
166.4
213.7
218.0
236.1
288.9
402.7
Monthly Import Coverage
n.a
n.a
n.a
n.a
0.7
1.5
1.8
2.3
3.7
3.6
3.3
3.8
5.0
Monthly Import Coverage net of CFZ Imports
3.2
3.2
2.1
1.4
0.8
1.8
2.3
2.8
4.2
4.5
4.3
4.6
6.0
PUBLIC SECTOR DEBT
Disbursed Outstanding External Debt (US $mn)
489.5
632.8
805.9
893.1
970.5
985.2
972.7
957.8
1,015.7
1,011.2
1,021.9
1,013.7
1,081.5
Ratio of Outstanding Debt to GDP at Market Prices (%)
56.1
67.9
81.4
84.4
87.1
80.9
75.4
69.9
75.9
72.3
68.6
64.5
66.9
External Debt Service Payments (US $mn)
76.9
77.3
82.8
96.8
88.9
134.3
133.4
96.9
81.2
76.6
81.4
79.0
62.0
External Debt Service Ratio (%)
6
Disbursed Outstanding Domestic Debt ($ mn)
Domestic Debt Service Payments ($ mn)
17.3
15.7
15.7
17.8
14.2
17.0
16.2
11.2
11.3
9.3
8.6
7.7
5.9
208.7
171.9
256.5
278.5
279.4
299.9
321.9
332.8
320.2
367.8
381.2
389.9
385.2
17.7
19.2
13.7
18.8
23.1
27.5
30.4
47.7
39.1
40.1
20.5
20.3
20.0
Sources: CBB, MOF and SIB 1
Time series is at April except 2008, which is at May.
Includes proceeds from the sale of BTL shares with domestic sources.
3
Includes privatization proceeds.
4
Includes CFZ gross sales. 2
5
6
Starting in 2005 these numbers have been revised to reflect only usable reserves as defined by BPM5.
Excludes refinancing of US$99.2mn (2002), US$50.2mn (2003), US$95.4mn (2004), US$136.7mn (2005), the restructuring amount of US$541.0mn in 2007, US$0.8mn in 2008 and US$1.0mn in 2009. 2013 excludes 10% haircut on the restructuring of bond
n.a. not available