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Economy - overview
recessionChile... export earnings - the latter a product of the global financial crisis. A severe drought exacerbated the recession in 1999, reducing crop yields and causing hydroelectric shortfalls and electricity rationing, and Chile experienced ...
recessionDjibouti... balance of payments. Per capita consumption dropped an estimated 35% between 1999 and 2006 because of recession, civil war, and a high population growth rate (including immigrants and refugees). Faced with a ...
recessionMongolia... the time of the dismantlement of the USSR. The following decade saw Mongolia endure both deep recession because of political inaction and natural disasters, as well as economic growth because of reform ...
recessionRomania... unsuited to the country's needs. The country emerged in 2000 from a punishing three-year recession thanks to strong demand in EU export markets. Domestic consumption and investment have fueled strong ...
recessionSingapore... in consumer electronics and information technology products. It was hard hit from 2001-03 by the global recession, by the slump in the technology sector, and by an outbreak of Severe Acute Respiratory ...
recessionSpain... The Spanish economy boomed from 1986 to 1990 averaging 5% annual growth. After a European-wide recession in the early 1990s, the Spanish economy resumed moderate growth starting in 1994. Spain's ...
recessionSri Lanka... Lanka saw GDP growth average 4.5% in the last 10 years with the exception of a recession in 2001. In late December 2004, a major tsunami took about 31,000 lives, left more ...
recessionUnited Kingdom... for the largest proportion of GDP while industry continues to decline in importance. Since emerging from recession in 1992, Britain's economy has enjoyed the longest period of expansion on record; growth ...
recessionVietnam... from 1997 to 2004 even against the background of the Asian financial crisis and a global recession. Since 2001, Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They ...
recessionsHong Kong... imported. GDP growth averaged a strong 5% from 1989 to 2007, despite the economy suffering two recessions during the Asian financial crisis in 1997-98 and the global downturn in 2001-02. Hong Kong ...
recipientCyprus... the area administered by Turkish Cypriots and the area under government control remains limited Economic aid - recipient: under a July 2006 agreement, Turkey plans to provide the area administered by Turkish Cypriots ...
recipientGuatemala... deficit. Given Guatemala's large expatriate community in the United States, it is the top remittance recipient in Central America, with inflows serving as a primary source of foreign income equivalent to ...
recommendedAntarctica... Unregulated fishing, particularly of Patagonian toothfish (Dissostichus eleginoides), is a serious problem. The CCAMLR determines the recommended catch limits for marine species. A total of 36,460 tourists visited the Antarctic Treaty area ...
recommendedMali... its main export, along with gold. The government has continued its successful implementation of an IMF-recommended structural adjustment program that is helping the economy grow, diversify, and attract foreign investment. Mali ...
reconcileBurma... that overvalue the Burmese kyat, a distorted interest rate regime, unreliable statistics, and an inability to reconcile national accounts to determine a realistic GDP figure. Most overseas development assistance ceased after the ...
reconstructMontserrat... public sector construction activity. The UK has launched a three-year $122.8 million aid program to help reconstruct the economy. Half of the island is expected to remain uninhabitable for another decade
reconstructionAfghanistan... by more than 60 countries and international financial institutions at the Berlin Donors Conference for Afghan reconstruction in March 2004 reached $8.9 billion for 2004-09. While the international community remains committed to ...
reconstructionAngola... oil production supported growth averaging more than 15% per year from 2004 to 2007. A postwar reconstruction boom and resettlement of displaced persons has led to high rates of growth in construction ...
reconstructionBosnia and Herzegovina... full member of the Central European Free Trade Agreement in September 2007. The country receives substantial reconstruction assistance and humanitarian aid from the international community but will have to prepare for an ...
reconstructionDominican Republic... expansion is expected for 2008 prior to the elections in May and for Tropical Storm Noel reconstruction. Although the economy is growing at a respectable rate, high unemployment and underemployment remains an ...
reconstructionLebanon... billion in infrastructure damage, and prompted international donors to pledge nearly $1 billion in recovery and reconstruction assistance. Donors met again in January 2007 and pledged over $7.5 billion to Lebanon for ...
reconstructionLiberia... timber and diamond exports have been lifted, opening new sources of revenue for the government. The reconstruction of infrastructure and the raising of incomes in this ravaged economy will largely depend on ...
reconstructionMaldives... the tsunami, the GDP contracted by about 3.6% in 2005. A rebound in tourism, post-tsunami reconstruction, and development of new resorts helped the economy recover quickly. The trade deficit has expanded ...
ReconstructionMontenegro... 2006 led to separate membership in several international financial institutions, such as the European Bank for Reconstruction and Development. On 18 January 2007, Montenegro joined the World Bank and IMF. Montenegro is ...
ReconstructionSerbia... reintegrate into the international community by rejoining the World Bank (IBRD) and the European Bank for Reconstruction and Development (EBRD). A World Bank-European Commission sponsored Donors' Conference held in June 2001 ...
reconstructionSri Lanka... missing and 443,000 displaced, and destroyed an estimated $1.5 billion worth of property. Government spending and reconstruction drove growth to more than 7% in 2006 but reduced agriculture output probably slowed growth ...
reconstructionTimor-Leste... international program, manned by 5,000 peacekeepers (8,000 at peak) and 1,300 police officers, led to substantial reconstruction in both urban and rural areas. By the end of 2005, refugees had returned or ...
recordAlgeria... improve Algeria's financial and macroeconomic indicators. Algeria is running substantial trade surpluses and building up record foreign exchange reserves. Algeria has decreased its external debt to less than 10% of GDP ...
recordAngolaAngola's high growth rate is driven by its oil sector, with record oil prices and rising petroleum production. Oil production and its supporting activities contribute about 85% of GDP. Increased oil ...
recordBrazil... fiscal policy are the three pillars of the economic program. From 2003 to 2007, Brazil ran record trade surpluses and recorded its first current account surpluses since 1992. Productivity gains coupled with ...
recordGreece... 2004 Athens Olympic Games, and in part to an increased availability of credit, which has sustained record levels of consumer spending. Greece violated the EU's Growth and Stability Pact budget deficit ...
recordJamaica... 20% of GDP and are equivalent to tourism revenues. Jamaica's economy, already saddled with a record of sluggish growth, will suffer an economic setback from damages caused by Hurricane Dean in ...
recordKorea, SouthSince the 1960s, South Korea has achieved an incredible record of growth and integration into the high-tech modern world economy. Four decades ago, GDP per capita was comparable with levels in ...
recordNorway... high consumer confidence and strong investment spending in the offshore oil and gas sector. Norway's record high budget surplus and upswing in the labor market in 2007 highlight the strength of ...
recordThailand... entirely to robust export performance - despite the pressure of an appreciating currency. Exports have performed at record levels, rising nearly 17% in 2006 and 12% in 2007. Export-oriented manufacturing - in particular ...
recordUnited Kingdom... emerging from recession in 1992, Britain's economy has enjoyed the longest period of expansion on record; growth has remained in the 2-3% range since 2004, outpacing most of Europe. The economy ...
recordUnited States... and stagnation of family income in the lower economic groups. The merchandise trade deficit reached a record $847 billion in 2007. Together, these problems caused a marked reduction in the value and ...
recordVenezuela... 8% in 2003 - but economic output since then has recovered strongly. Fueled by high oil prices, record government spending helped to boost GDP in 2006 by about 9% and in 2007 by ...
recordedBrazil... three pillars of the economic program. From 2003 to 2007, Brazil ran record trade surpluses and recorded its first current account surpluses since 1992. Productivity gains coupled with high commodity prices contributed ...
recoverEthiopia... use land as collateral for loans. Drought struck again late in 2002, leading to a 3.3% decline in GDP in 2003. Normal weather patterns helped agricultural and GDP growth recover during 2004-07
recoverKyrgyzstan... the breakup of the Soviet Union in December 1991, but by mid-1995, production began to recover and exports began to increase. The economy is heavily weighted toward gold export and a ...
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