rural-urban dynamics_report.pdf - Khazar University

48 MACROECONOMIC, TRADE, AND AID DEVELOPMENTS GLOBAL MONITORING REPORT 2013
TABLE 1.2 Government revenue excluding grants
Weighted averages, % of GDP
Projections
2008 2009 2010 2011 2012 2013 2014 2015
Emerging market and developing countries 29 26 27 28 28 28 27 27
Central and Eastern Europe 36 35 35 37 37 37 37 36
Commonwealth of Independent States 39 35 35 37 37 36 35 34
Developing Asia 20 20 20 21 22 21 21 22
Middle East and North Africa 43 33 34 38 38 37 37 35
Sub-Saharan Africa 28 23 24 28 27 26 26 25
Western Hemisphere 30 28 30 30 31 31 31 30
Low-income countries a 24 19 21 23 23 23 22 22
Of which: Fragile states b 22 17 19 20 20 21 20 20
Emerging market countries c 30 26 27 28 28 28 28 27
Source: World Economic Outlook.
Note: General government.
a. Low-income countries are those eligible for financial assistance under IMF’s Poverty Reduction and Growth Trust, and Zimbabwe.
b. A subset of low-income countries included in the World Bank’s list of Fragile and Conflict-Affected States.
c. Emerging market countries are emerging and developing countries that are not low-income countries.
FIGURE 1.2
Global current account imbalances
3
2
% of world GDP
1
0
–1
–2
–3
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
(projected)
Low-income countries with surplus
Emerging market countries with surplus
Advanced economies with surplus
United States
Other advanced economies with deficit
Emerging market countries with deficit
Low-income countries with deficit
Source: World Economic Outlook.
countries is the significantly higher level of
official inflows (capital and transfers). Fragile
states receive significantly higher net inflows
(relative to their GDP). In 2012, fragile states
received net inflows that averaged 16 percent
of GDP and the prospects are for a similar
level of inflows in 2013.
World trade was stagnant in 2012, reflecting
weak import demand in advanced economies
and relatively stable international commodity
prices. Trade in emerging market and
developing countries expanded by 4 percent,
down sharply from 25 percent the previous
year (in nominal U.S. dollars). In contrast,