UN Policy Analysis Feature - The World Economy at the Beginning of 1998

Policy analysis feature
The World Economy at the Beginning of 1998

Table 1: Growth of World Output^a, 1981-998 (Annual percentage change)

	1981-1990	1991	1992	1993	1994	1995	1996	1997^b	1998^c
World	2.8	0.8	1.8	1.4	3.0	2.5	3.0	3.2	3
Developing economies	2.9	0.7	1.6	0.8	2.7	2.1	2.4	2.6	2½
Economies in transition^d	1.6	-8.1	-13.0	-9.2	-7.0	-1.1	-0.3	1.7	3¼
Developing economies	2.4	3.3	5.1	5.2	5.6	4.6	5.7	5.7	5
Memorandum items:
Number of countries with rising per capita output	106	70	75	67	96	107	120	120	131
Number of countries in sample	127	128	142	143	143	143	143	143	143
World output growth with PPP-based weights^e	3.1	1.2	2.2	2.2	3.7	3.4	3.8	4.1	4

Source: UN/DESA

a Calculated as a weighted average of individual country growth rates of gross domestic product (GDP), where weights are based on GDP in 1993 prices and exchange rates.
b Preliminary estimates.
c Forecast, based in part on Project LINK.
d Based on reported GDP, which underestimates activity in several countries.
e Employs an alternative scheme for weighting national growth rates of GDP, based on purchasing power parity (PPP) conversions of national currency GDP into international dollars (see introduction to statistical annex of World Economic and Social Survey, 1997).

Table 1: Growth of World Outputa, 1981-998 (Annual percentage change)

Table 1: Growth of World Output^a, 1981-998 (Annual percentage change)