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Table 1. The global outlook in summary, 2010-2014

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(percent change from previous year, except interest rates and oil prices) 
     201020112012e2013f2014f
Global Conditions     
World Trade Volume (GNFS)13.06.15.37.07.7
Consumer Prices     
  G-7 Countries 1,21.22.41.91.82.0
  United States1.63.12.62.42.5
Commodity Prices (USD terms)     
  Non-oil commodities22.520.7-8.5-2.2-3.1
Oil Price (US$ per barrel) 379.0104.0106.6103.0102.4
  Oil price (percent change)28.031.62.5-3.4-0.6
Manufactures unit export value 43.38.90.91.21.5
Interest Rates      
  $, 6-month (percent)0.50.50.70.81.1
  €, 6-month (percent)1.01.61.21.41.5
International capital flows to developing countries (% of GDP)  
 Developing countries     
  Net private and official inflows5.84.63.33.63.8
  Net private inflows (equity + debt) 5.44.43.13.43.7
   East Asia and Pacific5.94.93.33.43.5
   Europe and Central Asia4.94.42.63.73.9
   Latin America and Caribbean6.14.83.93.94.0
   Middle East and N. Africa2.30.01.01.72.2
   South Asia5.23.72.83.03.5
   Sub-Saharan Africa3.63.42.63.34.3
Real GDP growth 5     
World   4.12.72.53.03.3
 Memo item: World (PPP weights) 65.13.73.33.94.2
 High income3.01.61.41.92.3
   OECD Countries2.91.41.31.82.2
   Euro Area1.81.6-0.30.71.4
   Japan4.5-0.72.41.51.5
   United States3.01.72.12.42.8
   Non-OECD countries7.44.83.64.34.1
 Developing countries7.46.15.35.96.0
   East Asia and Pacific9.78.37.68.17.9
    China10.49.28.28.68.4
    Indonesia6.26.56.06.56.3
    Thailand7.80.14.35.25.6
   Europe and Central Asia5.45.63.34.14.4
    Russia4.34.33.84.24.0
    Turkey9.28.52.94.05.0
    Romania-1.62.51.22.83.4
   Latin America and Caribbean6.14.33.54.14.0
    Brazil7.52.72.94.23.9
    Mexico5.53.93.54.03.9
    Argentina9.28.92.23.74.1
   Middle East and N. Africa3.81.00.62.23.4
    Egypt 75.01.82.13.14.2
    Iran 2.92.0-1.0-0.71.5
    Algeria3.32.52.63.23.6
   South Asia8.67.16.46.56.7
    India 7, 89.66.96.66.97.1
    Pakistan 74.12.43.63.84.1
    Bangladesh 76.16.76.36.46.5
   Sub-Saharan Africa5.04.75.05.35.2
    South Africa2.93.12.73.43.5
    Nigeria7.97.47.07.26.6
    Angola3.43.48.17.46.8
Memorandum items     
 Developing countries     
  excluding transition countries7.86.45.56.16.2
  excluding China and India5.64.43.64.34.5
          
Source:  World Bank.
Notes
: PPP = purchasing power parity; e = estimate; f = forecast.
1. Canada, France, Germany, Italy, Japan, the UK, and the United States.
2. In local currency, aggregated using 2005 GDP Weights.
3. Simple average of Dubai, Brent and West Texas Intermediate.
4. Unit value index of manufactured exports from major economies, expressed in USD.
5. Aggregate growth rates calculated using constant 2005 dollars GDP weights.
6. Calculated using 2005 PPP weights.
7. In keeping with national practice, data for Egypt, India, Pakistan and Bangladesh are reported on a fiscal year basis in Table 1.  Aggregates that depend on these countries, however, are calculated using data compiled on a calendar year basis.
8.  Real GDP at market prices.  GDP growth rates calculated using real GDP at factor cost, which are customarily reported in India, can vary significantly from these growth rates and have historically tended to be higher than market price GDP growth rates. Growth rates stated on this basis, starting with FY2010-11 are 8.4, 6.5, 6.9, 7.2, and 7.4 percent – see Table SAR.2 in the regional annex.
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