The company you work for recently acquired several international locations. You were informed that multiple positions will be moving overseas over the course of the next few years. Your manager has asked you to provide a comprehensive cultural information report to help employees make the transition to overseas employment.
Select a country where a specific job will be stationed. You may select from the United Nations' list of developed economies (Table A, page 169) in World Economic Situation and Prospects [PDF]. ***(PDF ATTACHED)***
Develop a six page cultural information report that will help an employee better understand how to make the transition overseas. Include the following:
For help with research and writing, access the library or review library guides.Note: The numbered assignment requirements outlined above correspond to the grading criteria in the assignment scoring guide, so be sure to address each point. The bulleted content below the numbered criteria is there to clarify, support, and contextualize the assignment instructions.
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Data sources, country classifications and aggregation methodology The statistical annex contains a set of data that the World Economic Situation and
Prospects (WESP) employs to delineate trends in various dimensions of the world economy.
Data sources The annex was prepared by the Economic Analysis and Policy Division (EAPD) of the De- partment of Economic and Social Affairs of the United Nations Secretariat (UN/DESA). It is based on information obtained from the Statistics Division and the Population Division of UN/DESA, as well as from the five United Nations regional commissions, the United Nations Conference on Trade and Development (UNCTAD), the United Nations World Tourism Organization (UNWTO), the International Monetary Fund (IMF), the World Bank, the Organization for Economic Cooperation and Development (OECD), and na- tional and private sources. Estimates for the most recent years were made by EAPD in consultation with the regional commissions, UNCTAD, UNWTO and participants in Project LINK, an international collaborative research group for econometric modelling coordinated jointly by EAPD and the University of Toronto. Forecasts for 2019 and 2020 are primarily based on the World Economic Forecasting Model of EAPD, with support from Project LINK.
Data presented in WESP may differ from those published by other organizations for a series of reasons, including differences in timing, sample composition and aggregation methods. Historical data may differ from those in previous editions of WESP because of updating and changes in the availability of data for individual countries.
Country classifications For analytical purposes, WESP classifies all countries of the world into one of three broad categories: developed economies, economies in transition and developing economies. The composition of these groupings, specified in tables A, B and C, is intended to reflect basic economic country conditions. Several countries (in particular the economies in transition) have characteristics that could place them in more than one category; however, for purposes of analysis, the groupings have been made mutually exclusive. Within each broad category, some subgroups are defined based either on geographical location or on ad hoc criteria, such as the subgroup of “major developed economies”, which is based on the membership of the Group of Seven. Geographical regions for developing economies are as follows: Africa, East Asia, South Asia, Western Asia, and Latin America and the Caribbean.1
1 Names and composition of geographical areas follow those specified in the statistical paper entitled “Standard country or area codes for statistical use” (ST/ESA/STAT/SER.M/49/Rev). Available from https://unstats.un.org/unsd/publication/SeriesM/Series_M49_Rev4(1999)_en.pdf.
168 World Economic Situation and Prospects 2019
In parts of the analysis, a distinction is made between fuel exporters and fuel import- ers from among the economies in transition and the developing countries. An economy is classified as a fuel exporter if the share of fuel exports in its total merchandise exports is greater than 20 per cent and the level of fuel exports is at least 20 per cent higher than that of the country’s fuel imports (table D). This criterion is drawn from the share of fuel exports in the total value of world merchandise trade. Fuels include coal, oil and natural gas.
For other parts of the analysis, countries have been classified by their level of develop- ment as measured by per capita gross national income (GNI). Accordingly, countries have been grouped as high-income, upper-middle-income, lower-middle-income and low-income (table E). To maintain compatibility with similar classifications used elsewhere, the thresh- old levels of GNI per capita are those established by the World Bank. Countries with less than $995 GNI per capita are classified as low-income countries, those with between $996 and $3,895 as lower-middle-income countries, those with between $3,896 and $12,055 as upper-middle-income countries, and those with incomes of more than $12, 056 as high-in- come countries. GNI per capita in dollar terms is estimated using the World Bank Atlas method,2 and the classification in table E is based on data for 2017.
The list of the least developed countries (LDCs) is decided upon by the United Nations Economic and Social Council and, ultimately, by the General Assembly, on the basis of recommendations made by the Committee for Development Policy. The basic cri- teria for inclusion require that certain thresholds be met with regard to per capita GNI, a human assets index and an economic vulnerability index.3 As of March 2018, there were 47 LDCs (table F).
WESP also makes reference to the group of heavily indebted poor countries (HIPCs), which are considered by the World Bank and IMF as part of their debt-relief initiative (the Enhanced HIPC Initiative).4 In October 2017, there were 39 HIPCs (see table G).
Aggregation methodology Aggregate data are either sums or weighted averages of individual country data. Unless
otherwise indicated, multi-year averages of growth rates are expressed as compound annual percentage rates of change. The convention followed is to omit the base year in a multi-year growth rate. For example, the 10-year average growth rate for the decade of the 2000s would be identified as the average annual growth rate for the period from 2001 to 2010.
WESP utilizes exchange-rate conversions of national data in order to aggregate output of individual countries into regional and global totals. The growth of output in each group of countries is calculated from the sum of gross domestic product (GDP) of individual countries measured at 2012 prices and exchange rates. Data for GDP in 2012 in national currencies were converted into dollars (with selected adjustments) and extended forwards and backwards in time using changes in real GDP for each country. This method supplies a reasonable set of aggregate growth rates for a period of about 15 years, centred on 2012.
2 See http://data.worldbank.org/about/country-classifications. 3 Handbook on the Least Developed Country Category: Inclusion, Graduation and Special Support Measures
(United Nations publication, Sales No. E.07.II.A.9). Available from http://www.un.org/en/develop- ment/desa/policy/cdp/cdp_publications/2008cdphandbook.pdf.
4 International Monetary Fund, Debt Relief Under the Heavily Indebted Poor Countries (HIPC) Initiative. Available from https://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/16/11/Debt- Relief- Under-the-Heavily-Indebted-Poor-Countries-Initiative.
Table A Developed economies
Europe Major developed economies (G7)European Union Other Europe
Canada United States
Sweden United Kingdomb
Bulgaria Croatia Cyprusa
Czech Republic Estoniaa
Poland Romania Slovakiaa
Iceland Norway Switzerland
Canada Japan France Germany Italy United Kingdom United States
Developed Asia and Pacific
Australia Japan New Zealand
The exchange-rate-based method differs from the one mainly applied by the IMF for their estimates of world and regional economic growth, which is based on purchasing power parity (PPP) weights. Over the past two decades, the growth of world gross product (WGP) on the basis of the exchange-rate-based approach has been below that based on PPP weights. This is because developing countries, in the aggregate, have seen significantly higher economic growth than the rest of the world in the 1990s and 2000s and the share in WGP of these countries is larger under PPP measurements than under market exchange rates. Table I.1 in chapter I reports world output growth with PPP weights as a comparator.
a Member of Euro area. b At the time of publishing, the United Kingdom was a member of the EU and is therefore is included in all EU aggregations. The country is scheduled to withdraw from the EU at the end of March 2019. c Used in reference to the 13 countries that joined the EU since 2004.
Table B Economies in transition
South-Eastern Europe Commonwealth of Independent States and Georgiaa
Albania Bosnia and Herzegovina Montenegro Serbia The former Yugoslav Republic
Armenia Azerbaijan Belarus Georgiaa
Republic of Moldova Russian Federation Tajikistan Turkmenistan Ukraineb
a Georgia officially left the Commonwealth of Independent States on 18 August 2009. However, its performance is discussed in the context of this group of countries for reasons of geographic proximity and similarities in economic structure. b Starting in 2010, data for the Ukraine excludes the temporarily occupied territory of the Autonomous Republic of Crimea and Sevastopol.
170 World Economic Situation and Prospects 2019
a Economies systematically monitored by the Global
Economic Monitoring Branch of EAPD.
b Throughout the report the term ‘East Asia’ is used
in reference to this set of developing countries, and
c The country coverage in WESP 2019 was expanded to include
South Sudan, State of Palestine and Democratic People’s
Republic of Korea.
d Special Administrative Region of China.
Table C Developing economies by regiona
Africa Asia Latin America
and the Caribbean
Algeria Egypt Libya Mauritania Morocco Sudan Tunisia
Cameroon Central African
Republic Chad Congo Equatorial Guinea Gabon Sao Tome and
Burundi Comoros Democratic Republic
of the Congo Djibouti Eritrea Ethiopia Kenya Madagascar Rwanda Somalia South Sudanc
Uganda United Republic
Angola Botswana Eswatini Lesotho Malawi Mauritius Mozambique Namibia South Africa Zambia Zimbabwe
Benin Burkina Faso Cabo Verde Côte d’Ivoire Gambia (Islamic
Republic of the) Ghana Guinea Guinea-Bissau Liberia Mali Niger Nigeria Senegal Sierra Leone Togo
Brunei Darussalam Cambodia China Democratic People’s
Republic of Koreac
Fiji Hong Kong SARd
Indonesia Kiribati Lao People’s Democratic
Republic Malaysia Mongolia Myanmar Papua New Guinea Philippines Republic of Korea Samoa Singapore Solomon Islands Taiwan Province of China Thailand Timor-Leste Vanuatu Viet Nam
Afghanistan Bangladesh Bhutan India Iran (Islamic Republic of) Maldives Nepal Pakistan Sri Lanka
Bahrain Iraq Israel Jordan Kuwait Lebanon Oman Qatar Saudi Arabia State of Palestinec
Syrian Arab Republic Turkey United Arab Emirates Yemen
Bahamas Barbados Belize Guyana Jamaica Suriname Trinidad and Tobago
Mexico and Central America
Costa Rica Cuba Dominican Republic El Salvador Guatemala Haiti Honduras Mexico Nicaragua Panama
Argentina Bolivia (Plurinational
State of) Brazil Chile Colombia Ecuador Paraguay Peru Uruguay Venezuela (Bolivarian
Table D Fuel-exporting countries
Economies in transition
Latin America and the
Caribbean Africa East Asia South Asia
Bolivia (Plurinational State of)
Trinidad and Tobago
Venezuela (Bolivarian Republic of)
Democratic People’s Republic of Korea
Papua New Guinea
Iran (Islamic Republic of)
United Arab Emirates
172 World Economic Situation and Prospects 2019
Table E Economies by per capita GNI in June 2018
High-income Upper-middle-income Lower-middle-income
Argentinac Australia Austria Bahamas Bahrain Barbados Belgium Brunei
Darussalam Canada Chile Croatiac
Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hong Kong SARd
Hungary Iceland Ireland Israel Italy Japan Kuwait
Latvia Lithuania Luxembourg Malta Netherlands New Zealand Norway Oman Panamac
Poland Portugal Qatar Republic of Korea Saudi Arabia Singapore Slovak Republic Slovenia Spain Sweden Switzerland Taiwan Province of
China Trinidad and Tobago United Arab Emirates United Kingdom United States Uruguay
Albania Algeria Armeniac
Azerbaijan Belarus Belize Bosnia and
Herzegovina Botswana Brazil Bulgaria China Colombia Costa Rica Cuba Dominican Republic Ecuador Equatorial Guinea Fiji Gabon Guatemalac
Guyana Iran (Islamic
Republic of) Iraq Jamaica Jordanc
Kazakhstan Lebanon Libya Malaysia Maldives Mauritius Mexico Montenegro Namibia Paraguay Peru Romania Russian Federation Samoa Serbia South Africa Suriname Thailand The former Yugoslav
Republic of Macedonia
Turkey Turkmenistan Venezuela (Bolivarian
Bangladesh Bhutan Bolivia (Plurinational
State of) Cabo Verde Cambodia Cameroon Congo Côte d’Ivoire Djibouti Egypt El Salvador Eswatini Georgia Ghana Honduras India Indonesia Kenya Kiribati Kyrgyzstan Lao People’s
Lesotho Mauritania Mongolia Morocco Myanmar Nicaragua Nigeria Pakistan Papua New Guinea Philippines Republic of Moldova São Tomé and
Principe Solomon Islands Sri Lanka State of Palestine Sudan Timor-Leste Tunisia Ukraine Uzbekistan Vanuatu Viet Nam Zambia
Afghanistan Benin Burkina Faso Burundi Central African
Republic Chad Comoros Democratic People’s
Republic of Korea
Democratic Republic of the Congo
Eritrea Ethiopia Gambia Guinea Guinea-Bissau Haiti Liberia Madagascar
Malawi Mali Mozambique Nepal Niger Rwanda Senegal Sierra Leone Somalia South Sudan
Syrian Arab Republicb
Togo Uganda United Republic of
a Economies systematically monitored for the World Economic Situation and Prospects report and included in the United Nations’ global economic forecast.
b Indicates the country has been shifted downward by one category from previous year’s classification.
c Indicates the country has been shifted upward by one category from previous year’s classification.
d Special Administrative Region of China.
Table F Least developed countries (as of March 2018)
Africa East Asia South Asia Western Asia Latin America
and the Caribbean
Angola Benin Burkina Faso Burundi Central African Republic Chad Comoros Democratic Republic of
the Congo Djibouti Eritrea Ethiopia Gambia Guinea Guinea-Bissau Lesotho Liberia Madagascar
Malawi Mali Mauritania Mozambique Niger Rwanda Sao Tome and Principe Senegal Sierra Leone Somalia South Sudan Sudan Togo Uganda United Republic
of Tanzania Zambia
Cambodia Kiribati Lao People’s
Islands Timor Leste Tuvalua
Afghanistan Bangladesh Bhutan Nepal
a Not included in the WESP discussion because of insufficient data.
Table G Heavily indebted poor countries (as of October 2017)
Post-completion point HIPCsa Pre-decision point HIPCsb
Afghanistan Benin Bolivia Burkina Faso Burundi Cameroon Central African Republic Chad Comoros Congo Côte D’Ivoire Democratic Republic of the Congo Ethiopia Gambia Ghana Guinea Guinea-Bissau Guyana
Haiti Honduras Liberia Madagascar Malawi Mali Mauritania Mozambique Nicaragua Niger Rwanda Sao Tomé and Principe Senegal Sierra Leone Togo Uganda United Republic of Tanzania Zambia
Eritrea Somalia Sudan
a Countries that have qualified for irrevocable debt relief under the HIPC Initiative.
b Countries that are potentially eligible and may wish to avail themselves of the HIPC Initiative or the Multilateral Debt Relief Initiative (MDRI).
174 World Economic Situation and Prospects 2019
Table H Small island developing States
United Nations members Non-UN members/Associate members
of the Regional Commissions
Antigua and Barbuda
Federated States of Micronesia
Papua New Guinea
Saint Kitts and Nevis
Saint Vincent and the Grenadines
São Tomé and Príncipe
Trinidad and Tobago
British Virgin Islands
Commonwealth of Northern Marianas
Turks and Caicos Islands
U.S. Virgin Islands
Table I Landlocked developing countries
Landlocked developing countries
Bolivia (Plurinational State of)
Central African Republic
Lao People’s Democratic Republic
Republic of Moldova
The former Yugoslav Republic of Macedonia
Table J International Organization for Standardization of Country Codes
ISO Code Country
ISO Code Country
ISO Code Country
ISO Code Country
AFG AGO ALB AND ARE ARG ARM ATG AUS AUT AZE BDI BEL BEN BFA BGD BGR BHR BHS BIH
BLR BLZ BOL
BRA BRB BRN BTN BWA CAF
CAN CHE CHL CHN CIV CMR COD
COG COL COM CPV CRI CUB CYP CZE DEU DJI DMA DNK DOM
Afghanistan Angola Albania Andorra United Arab Emirates Argentina Armenia Antigua and Barbuda Australia Austria Azerbaijan Burundi Belgium Benin Burkina Faso Bangladesh Bulgaria Bahrain Bahamas Bosnia and
Herzegovina Belarus Belize Bolivia (Plurinational
State of) Brazil Barbados Brunei Darussalam Bhutan Botswana Central African
Republic Canada Switzerland Chile China Côte D’Ivoire Cameroon Democratic Republic
of the Congo Congo Colombia Comoros Cabo Verde Costa Rica Cuba Cyprus Czech Republic Germany Djibouti Dominica Denmark Dominican Republic
DZA ECU EGY ERI ESP EST ETH FIN FJI FRA FSM
GEO GHA GIN GMB GNB GNQ GRC GRD GTM GUY HND HRV HTI HUN IDN IND IRL IRN
IRQ ISL ISR ITA JAM JOR JPN KAZ KEN KGZ KHM KIR KNA KOR KWT LAO
Algeria Ecuador Egypt Eritrea Spain Estonia Ethiopia Finland Fiji France Micronesia (Federated
States of) Gabon United Kingdom of
Great Britain and Northern Ireland
Georgia Ghana Guinea Gambia Guinea Bissau Equatorial Guinea Greece Grenada Guatemala Guyana Honduras Croatia Haiti Hungary Indonesia India Ireland Iran (Islamic
Republic of) Iraq Iceland Israel Italy Jamaica Jordan Japan Kazakhstan Kenya Kyrgyzstan Cambodia Kiribati Saint Kitts and Nevis Republic of Korea Kuwait Lao People’s
LBN LBR LBY LCA LIE LKA LSO LTU LUX LVA MAR MCO MDA MDG MDV MEX MHL MKD
MLI MLT MMR MNE MNG MOZ MRT MUS MWI MYS NAM NER NGA NIC NLD NOR NPL NRU NZL OMN PAK PAN PER PHL PLW PNG POL PRK
PRT PRY PSE QAT
Lebanon Liberia Libya Saint Lucia Liechtenstein Sri Lanka Lesotho Lithuania Luxembourg Latvia Morocco Monaco Republic of Moldova Madagascar Maldives Mexico Marshall Islands The former Yugoslav
Republic of Macedonia
Mali Malta Myanmar Montenegro Mongolia Mozambique Mauritania Mauritius Malawi Malaysia Namibia Niger Nigeria Nicaragua Netherlands Norway Nepal Nauru New Zealand Oman Pakistan Panama Peru Philippines Palau Papua New Guinea Poland Democratic People’s
Republic of Korea Portugal Paraguay State of Palestine Qatar
ROU RUS RWA SAU SDN SEN SGP SLB SLE SLV SMR SOM SRB SSD STP
SUR SVK SVN SWE SWZ SYC SYR TCD TGO THA TJK TKM TLS TON TTO TUN TUR TUV TZA
UGA UKR URY USA
VNM VUT WSM YEM ZAF ZMB ZWE
Romania Russian Federation Rwanda Saudi Arabia Sudan Senegal Singapore Solomon Islands Sierra Leone El Salvador San Marino Somalia Serbia South Sudan Sao Tome and
Principe Suriname Slovakia Slovenia Sweden Eswatini Seychelles Syrian Arab Republic Chad Togo Thailand Tajikistan Turkmenistan Timor-Leste Tonga Trinidad and Tobago Tunisia Turkey Tuvalu United Republic of
Tanzania Uganda Ukraine Uruguay United States of
America Uzbekistan Saint Vincent and the
Grenadines Venezuela (Bolivarian
Republic of) Viet Nam Vanuatu Samoa Yemen South Africa Zambia Zimbabwe
Table A.1 Developed economies: rates of growth of real GDP, 2010–2020
Annual percentage change
2010-2017a 2010 2011 2012 2013 2014 2015 2016 2017 2018b 2019c 2020c
Developed economies 1.8 2.6 1.5 1.1 1.2 2.0 2.3 1.7 2.2 2.2 2.1 1.9 United States 2.2 2.5 1.6 2.2 1.7 2.6 2.9 1.6 2.2 2.8 2.5 2.0 Canada 2.3 3.1 3.1 1.7 2.5 2.9 1.0 1.4 3.0 2.0 2.0 2.2 Japan 1.5 4.2 -0.1 1.5 2.0 0.4 1.4 1.0 1.7 1.0 1.4 1.2 Australia 2.6 2.4 2.7 3.9 2.2 2.6 2.5 2.6 2.2 3.2 2.7 2.4 New Zealand 2.9 2.0 1.9 2.5 2.2 3.2 4.2 4.1 3.0 2.9 2.7 3.0 European Union 1.5 2.1 1.7 -0.4 0.3 1.8 2.3 2.0 2.4 2.0 2.0 2.0 EU-15 1.4 2.1 1.6 -0.5 0.2 1.7 2.2 1.9 2.2 1.8 1.8 1.8
Austria 1.5 1.8 2.9 0.7 0.0 0.8 1.1 1.5 3.0 2.9 1.9 1.8 Belgium 1.4 2.7 1.8 0.2 0.2 1.3 1.4 1.4 1.7 1.5 1.6 1.6 Denmark 1.5 1.9 1.3 0.2 0.9 1.6 1.6 2.0 2.3 1.6 1.9 1.8 Finland 1.0 3.0 2.6 -1.4 -0.8 -0.6 0.1 2.5 2.8 2.5 2.3 2.3 France 1.3 1.9 2.2 0.3 0.6 1.0 1.1 1.2 2.2 1.7 1.8 1.8 Germany 2.1 4.1 3.7 0.5 0.5 1.9 1.7 2.2 2.2 1.8 1.8 1.8 Greece -3.0 -5.5 -9.1 -7.3 -3.2 0.7 -0.3 -0.2 1.4 1.8 1.9 1.5 Ireland 6.3 1.8 3.0 0.0 1.6 8.3 25.1 5.0 7.2 3.8 4.4 4.2 Italy 0.1 1.7 0.6 -2.8 -1.7 0.1 1.0 0.9 1.5 1.2 1.2 1.0 Luxembourg 3.1 4.9 2.5 -0.4 3.7 5.8 2.9 3.1 2.3 3.1 3.1 3.1 Netherlands 1.3 1.4 1.7 -1.1 -0.2 1.4 2.0 2.2 2.9 2.6 2.5 2.4 Portugal 0.2 1.9 -1.8 -4.0 -1.1 0.9 1.8 1.6 2.7 1.7 1.3 1.9 Spain 0.7 0.0 -1.0 -2.9 -1.7 1.4 3.4 3.3 3.1 2.7 2.3 2.1 Sweden 2.7 6.0 2.7 -0.3 1.2 2.6 4.5 2.7 2.1 2.7 2.2 2.2 United Kingdom 1.9 1.7 1.5 1.5 2.1 3.1 2.3 1.8 1.7 1.3 1.4 1.7
EU-13 2.6 1.7 3.1 0.6 1.3 2.9 3.8 3.2 4.6 4.2 3.6 3.5 Bulgaria 2.1 1.3 1.9 0.0 0.9 1.3 3.5 3.9 3.8 3.4 3.5 3.5 Croatia 0.5 -1.5 -0.3 -2.3 -0.5 -0.1 2.4 3.5 2.9 2.7 2.8 2.7 Cyprus 0.2 1.3 0.3 -3.1 -5.9 -1.4 2.0 4.8 4.2 3.0 2.0 3.2 Czech Republic 2.2 2.3 1.8 -0.8 -0.5 2.7 5.3 2.5 4.3 2.5 3.1 3.3 Estonia 3.6 2.3 7.6 4.3 1.9 2.9 1.9 3.5 4.9 3.8 3.5 3.0 Hungary 2.1 0.7 1.7 -1.6 2.1 4.2 3.4 2.2 4.0 4.8 3.2 3.0 Latvia 2.5 -3.9 6.4 4.0 2.4 1.9 3.0 2.2 4.5 4.6 3.8 4.0 Lithuania 3.3 1.6 6.0 3.8 3.5 3.5 2.0 2.3 3.9 3.2 3.5 3.5 Malta 5.2 3.5 1.3 2.7 4.7 8.1 9.5 5.2 6.7 2.9 2.9 3.6 Poland 3.3 3.6 5.0 1.6 1.4 3.3 3.8 3.0 4.6 5.0 3.8 3.8 Romania 2.8 -2.8 2.0 1.2 3.5 3.1 3.9 4.8 6.8 4.2 3.8 3.6 Slovakia 3.0 5.0 2.8 1.7 1.5 2.8 3.9 3.3 3.4 4.2 4.0 3.6 Slovenia 1.4 1.2 0.6 -2.7 -1.1 3.0 2.3 3.1 4.9 4.2 3.8 3.2
Other Europe 1.7 1.9 1.4 1.7 1.5 2.2 1.6 1.4 1.5 2.1 2.0 1.9 Iceland 2.7 -3.6 2.0 1.3 4.3 2.2 4.5 7.4 4.0 3.5 3.2 4.0 Norway 1.6 0.7 1.0 2.7 1.0 2.0 2.0 1.2 2.0 1.7 2.0 2.1 Switzerland 1.7 3.0 1.7 1.0 1.9 2.4 1.2 1.4 1.1 2.3 2.0 1.7 Memorandum items North America 2.2 2.6 1.8 2.2 1.8 2.6 2.7 1.6 2.3 2.7 2.4 2.0 Developed Asia and Pacific 1.8 3.8 0.5 2.0 2.0 0.9 1.6 1.4 1.9 1.5 1.7 1.5 Europe 1.5 2.1 1.7 -0.2 0.4 1.8 2.3 1.9 2.4 2.0 2.0 2.0 Major developed economies 1.8 2.8 1.5 1.4 1.4 1.9 2.1 1.5 2.1 2.1 2.0 1.8 Euro area 1.3 2.1 1.6 -0.9 -0.2 1.3 2.1 1.9 2.4 2.0 1.9 1.9
Source: UN/DESA, based on data of the United Nations Statistics Division and individual national sources. Note: Regional aggregates calculated at 2012 prices and exchange rates. a Average percentage change. b Partly estimated. c Baseline scenario forecasts, based in part on Project LINK and UN/DESA World Economic Forecasting Model.
180 World Ec
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