traducido por Federico Dilla
Sovereign Risk Indicators
“Sovereign Risk Indicators” contains comparative statistics for rated sovereigns. Tables 1-4 include economic measures, fiscal and debt indicators, balance-of-payments information, and external balance sheet data. To view the full data set, please click on the “View Expanded Table” tab at the top of each table. A glossary at the end of this article explains the reported concepts.
Sovereign Risk Indicators
"Sovereign Risk Indicators" contains comparative statistics for rated sovereigns. Tables 1-4 include economic measures, fiscal and debt indicators, balance-of-payments information, and external balance sheet data. To view the full data set, please click on the "View Expanded Table" tab at the top of each table. A glossary at the end of this article explains the reported concepts.
An interactive version of the Sovereign Risk Indicators can be found at www.spratings.com/SRI. Sovereign Risk Indicators is published quarterly; the next publication will be released on March 23, 2015.
Economic Data
Table 1 | Download Table | View Expanded Table
| Sovereign Risk Indicators: Economic Data | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nominal GDP (bil. US$) | Per capita GDP (US$) | Savings / GDP (%) | Investment / GDP (%) | Real GDP (% chg.) | Real investment (% chg.) | Unemployment rate (% of workforce) | CPI growth (avg % chg.) | DC claims on resident non-govt. sector (% chg.) | ||||||||||||||
| LT FC rating | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | |||||||||||||
| Abu Dhabi | AA | 277 | 101,894 | N/A | N/A | 4.8 | N/A | 3.0 | 1.5 | N/A | ||||||||||||
| Albania | B | 14 | 4,713 | 17.2 | 27.7 | 2.0 | 1.5 | 13.0 | 2.3 | 1.0 | ||||||||||||
| Andorra | BBB+ | 3 | 43,284 | N/A | N/A | 0.8 | N/A | 3.2 | 0.4 | 0.0 | ||||||||||||
| Angola | BB- | 160 | 7,254 | 33.9 | 30.6 | 4.0 | 8.0 | 35.0 | 7.0 | 5.0 | ||||||||||||
| Argentina | SD | 558 | 13,099 | 15.8 | 16.4 | (1.5) | (6.5) | 7.4 | 35.0 | 33.5 | ||||||||||||
| Aruba | BBB+ | 3 | 25,026 | 17.0 | 25.5 | 2.7 | 14.2 | N/A | 1.0 | 3.8 | ||||||||||||
| Australia | AAA | 1,453 | 61,895 | 24.2 | 27.2 | 2.5 | (1.5) | 5.8 | 2.7 | 5.6 | ||||||||||||
| Austria | AA+ | 437 | 51,475 | 24.0 | 22.0 | 0.4 | (0.1) | 5.3 | 1.5 | 0.5 | ||||||||||||
| Azerbaijan | BBB- | 78 | 8,290 | 39.2 | 26.8 | 4.0 | 10.0 | 5.5 | 3.0 | 18.0 | ||||||||||||
| Bahamas | BBB | 9 | 23,958 | 9.9 | 27.0 | 1.1 | (0.7) | 13.3 | 1.5 | 2.5 | ||||||||||||
| Bahrain | BBB | 35 | 26,921 | 21.3 | 15.2 | 4.0 | 2.0 | 4.3 | 2.8 | 7.0 | ||||||||||||
| Bangladesh | BB- | 151 | 966 | 28.5 | 27.4 | 5.7 | 6.5 | 2.0 | 7.4 | 16.0 | ||||||||||||
| Barbados | BB- | 4 | 15,063 | 5.9 | 14.8 | (0.1) | 5.5 | 13.0 | 1.6 | 0.8 | ||||||||||||
| Belarus | B- | 74 | 7,849 | 25.7 | 34.3 | 1.0 | (5.0) | 1.0 | 19.0 | 25.0 | ||||||||||||
| Belgium | AA | 536 | 48,007 | 21.2 | 22.9 | 1.0 | 3.9 | 8.5 | 0.5 | 2.0 | ||||||||||||
| Belize | B- | 2 | 5,014 | 17.8 | 24.4 | 3.0 | N/A | 11.7 | 0.9 | 2.1 | ||||||||||||
| Bermuda | AA- | 6 | 88,754 | 24.1 | 11.7 | 1.0 | 1.5 | 7.0 | 2.0 | 0.0 | ||||||||||||
| Bolivia | BB | 34 | 3,030 | 22.0 | 19.1 | 5.7 | 5.7 | 4.0 | 5.2 | 11.0 | ||||||||||||
| Bosnia and Herzegovina | B | 18 | 4,745 | 7.3 | 18.1 | 0.5 | 10.0 | 27.7 | 1.0 | 2.0 | ||||||||||||
| Botswana | A- | 16 | 7,905 | 37.4 | 32.5 | 5.2 | 4.7 | 21.0 | 5.9 | 20.0 | ||||||||||||
| Brazil | BBB- | 2,110 | 10,537 | 12.5 | 16.7 | 0.2 | (7.0) | 5.9 | 6.5 | 9.3 | ||||||||||||
| Bulgaria | BB+ | 55 | 7,545 | 23.2 | 21.1 | 1.2 | 0.5 | 12.8 | (0.5) | 2.0 | ||||||||||||
| Burkina Faso | B- | 13 | 747 | 14.7 | 23.4 | 5.0 | 5.0 | N/A | 2.7 | 15.0 | ||||||||||||
| Cameroon | B | 32 | 1,402 | 13.7 | 19.4 | 5.6 | 6.0 | N/A | 4.0 | 15.0 | ||||||||||||
| Canada | AAA | 1,821 | 51,251 | 21.6 | 23.7 | 2.3 | 2.3 | 7.1 | 2.0 | 5.0 | ||||||||||||
| Cape Verde | B | 2 | 3,845 | 20.8 | 29.0 | 2.0 | 5.2 | 9.0 | 0.5 | 1.0 | ||||||||||||
| Chile | AA- | 252 | 14,154 | 20.7 | 22.3 | 1.7 | (4.1) | 7.0 | 3.8 | 1.8 | ||||||||||||
| China | AA- | 10,544 | 7,574 | 47.5 | 45.5 | 7.4 | 6.2 | 4.1 | 2.3 | 13.7 | ||||||||||||
| Colombia | BBB | 394 | 8,265 | 20.9 | 24.8 | 5.0 | 7.5 | 8.0 | 2.8 | 10.4 | ||||||||||||
| Congo | B+ | 16 | 3,412 | 50.3 | 54.6 | 6.0 | 15.0 | 0.0 | 2.5 | 20.0 | ||||||||||||
| Congo, DR | B- | 40 | 540 | 12.0 | 21.3 | 8.5 | 10.4 | N/A | 4.0 | 35.0 | ||||||||||||
| Cook Islands | B+ | 0 | 23,870 | 23.8 | 0.0 | 2.0 | N/A | N/A | 3.7 | (7.5) | ||||||||||||
| Costa Rica | BB | 50 | 10,360 | 16.1 | 21.0 | 3.6 | 3.6 | 7.0 | 4.6 | 11.5 | ||||||||||||
| Croatia | BB | 60 | 14 | 19.5 | 18.9 | (0.6) | (1.5) | 17.4 | 1.2 | (2.0) | ||||||||||||
| Curacao | A- | 3 | 23,232 | N/A | N/A | 0.5 | N/A | 10.0 | 2.0 | 4.4 | ||||||||||||
| Cyprus | B+ | 23 | 26,915 | 11.5 | 11.6 | (3.0) | (17.0) | 18.7 | (0.1) | (7.0) | ||||||||||||
| Czech Republic | AA- | 213 | 20,183 | 24.3 | 25.7 | 2.4 | 3.9 | 6.7 | 0.4 | 5.0 | ||||||||||||
| Denmark | AAA | 348 | 61,881 | 25.4 | 19.5 | 1.4 | 1.0 | 7.1 | 0.6 | 2.8 | ||||||||||||
| Dominican Republic | B+ | 64 | 6,087 | 11.2 | 15.0 | 5.5 | 10.0 | 14.3 | 4.5 | 9.9 | ||||||||||||
| Ecuador | B+ | 100 | 6,279 | 21.8 | 24.4 | 4.2 | 3.2 | 5.5 | 2.9 | 6.7 | ||||||||||||
| Egypt | B- | 290 | 3,483 | 10.6 | 12.7 | 2.1 | 1.0 | 14.0 | 10.1 | 7.3 | ||||||||||||
| El Salvador | BB- | 25 | 3,967 | 10.0 | 15.1 | 2.2 | 2.2 | 6.2 | 2.1 | 6.9 | ||||||||||||
| Estonia | AA- | 26 | 19,584 | 26.4 | 26.9 | 1.9 | 1.8 | 7.8 | 0.0 | 3.2 | ||||||||||||
| Ethiopia | B | 61 | 632 | 32.9 | 40.8 | 9.1 | 10.3 | N/A | 8.0 | 22.0 | ||||||||||||
| Fiji | B | 4 | 4,833 | N/A | N/A | 3.8 | N/A | 8.8 | 3.4 | 10.0 | ||||||||||||
| Finland | AA+ | 271 | 49,641 | 19.4 | 21.1 | (0.5) | (1.2) | 8.7 | 1.1 | 3.6 | ||||||||||||
| France | AA | 2,839 | 43,078 | 20.2 | 21.8 | 0.4 | (2.2) | 10.2 | 0.6 | 1.0 | ||||||||||||
| Gabon | BB- | 18 | 10,672 | 38.9 | 30.7 | 5.0 | 5.0 | 0.2 | 3.0 | 30.0 | ||||||||||||
| Georgia | BB- | 17 | 3,857 | 23.4 | 32.1 | 5.0 | 14.0 | 14.5 | 4.5 | 20.0 | ||||||||||||
| Germany | AAA | 3,841 | 46,725 | 26.1 | 19.8 | 1.4 | 2.1 | 5.1 | 0.9 | 2.0 | ||||||||||||
| Ghana | B- | 46 | 1,727 | 3.9 | 15.6 | 5.0 | (5.0) | 11.2 | 15.0 | 25.0 | ||||||||||||
| Greece | B | 237 | 21,327 | 11.8 | 11.2 | 0.4 | (4.0) | 27.8 | (1.2) | (3.5) | ||||||||||||
| Guatemala | BB | 58 | 3,672 | 11.4 | 14.5 | 3.6 | 4.8 | N/A | 4.8 | 14.4 | ||||||||||||
| Guernsey | AA+ | 4 | 57,284 | N/A | N/A | 0.9 | N/A | 2.3 | 1.7 | N/A | ||||||||||||
| Honduras | B | 20 | 2,268 | 16.0 | 23.8 | 3.1 | 3.1 | 4.4 | 6.5 | 9.8 | ||||||||||||
| Hong Kong | AAA | 291 | 40,242 | 26.4 | 24.4 | 2.4 | 2.5 | 3.5 | 3.5 | 12.0 | ||||||||||||
| Hungary | BB | 129 | 13,103 | 25.5 | 21.4 | 3.2 | 11.0 | 7.5 | 0.0 | 0.0 | ||||||||||||
| Iceland | BBB- | 16 | 54,286 | 20.3 | 16.3 | 1.5 | 12.0 | 5.2 | 2.1 | 4.0 | ||||||||||||
| India | BBB- | 1,961 | 1,547 | 27.7 | 29.5 | 5.5 | 3.0 | N/A | 7.2 | 13.0 | ||||||||||||
| Indonesia | BB+ | 842 | 3,331 | 29.3 | 32.2 | 5.1 | 5.1 | 5.9 | 6.0 | 19.0 | ||||||||||||
| Ireland | A | 244 | 53,082 | 18.2 | 13.2 | 4.5 | 1.0 | 11.2 | 0.6 | (10.6) | ||||||||||||
| Israel | A+ | 303 | 38,433 | 20.5 | 18.8 | 2.3 | (1.0) | 6.1 | 0.6 | 6.0 | ||||||||||||
| Italy | BBB- | 2,159 | 35,814 | 19.0 | 17.4 | (0.2) | (2.3) | 12.6 | 0.2 | 0.0 | ||||||||||||
| Jamaica | B- | 14 | 4,874 | 14.0 | 21.0 | 1.2 | 1.2 | 12.0 | 7.0 | 8.3 | ||||||||||||
| Japan | AA- | 4,671 | 36,771 | 23.1 | 22.6 | 0.6 | 1.8 | 3.6 | 2.7 | 2.1 | ||||||||||||
| Jersey | AA+ | 6 | 60,611 | N/A | N/A | 1.0 | N/A | 5.0 | 1.9 | (3.4) | ||||||||||||
| Jordan | BB- | 36 | 5,408 | 18.7 | 27.1 | 3.3 | 4.0 | 12.8 | 3.0 | 10.0 | ||||||||||||
| Kazakhstan | BBB+ | 214 | 12,512 | 25.8 | 24.2 | 4.0 | 6.0 | 5.3 | 7.7 | 15.0 | ||||||||||||
| Kenya | B+ | 59 | 1,301 | 12.3 | 20.1 | 5.2 | 3.5 | N/A | 7.0 | 13.0 | ||||||||||||
| Korea | A+ | 1,445 | 29,178 | 36.2 | 30.1 | 3.6 | 3.5 | 3.6 | 1.3 | 3.0 | ||||||||||||
| Kuwait | AA | 201 | 58,046 | 52.6 | 17.3 | 2.8 | 3.0 | 2.1 | 3.5 | 6.0 | ||||||||||||
| Latvia | A- | 32 | 16,040 | 20.8 | 23.3 | 2.4 | 1.8 | 10.9 | 0.7 | (4.0) | ||||||||||||
| Lebanon | B- | 47 | 9,420 | (0.2) | 24.0 | 1.5 | 2.0 | 13.0 | 3.0 | 8.0 | ||||||||||||
| Liechtenstein | AAA | 6 | 163,556 | N/A | 0.0 | 1.3 | N/A | 2.3 | 0.0 | 2.0 | ||||||||||||
| Lithuania | A- | 50 | 16,919 | 20.5 | 19.0 | 2.7 | 7.0 | 11.0 | 0.0 | 1.0 | ||||||||||||
| Luxembourg | AAA | 63 | 114,170 | 21.2 | 16.5 | 2.9 | (0.7) | 6.0 | 1.0 | 2.0 | ||||||||||||
| Macedonia | BB- | 10 | 5,078 | 22.1 | 25.2 | 3.3 | 6.5 | 28.2 | 0.3 | 8.0 | ||||||||||||
| Malaysia | A- | 331 | 10,961 | 33.0 | 26.7 | 6.0 | 6.0 | 2.9 | 3.1 | 7.5 | ||||||||||||
| Malta | BBB+ | 10 | 24,709 | 20.5 | 20.0 | 2.4 | 15.0 | 6.6 | 1.3 | (0.5) | ||||||||||||
| Mexico | BBB+ | 1,268 | 10,593 | 19.6 | 21.5 | 2.2 | 1.8 | 4.8 | 4.2 | 6.5 | ||||||||||||
| Mongolia | B+ | 12 | 4,153 | 7.5 | 27.4 | 8.0 | (30.0) | 4.9 | 13.0 | 40.0 | ||||||||||||
| Montenegro | B+ | 5 | 7,232 | 4.5 | 20.0 | 2.2 | 5.2 | 16.0 | (0.7) | 0.2 | ||||||||||||
| Montserrat | BBB- | 0 | 12,864 | (1.3) | 26.4 | 2.0 | N/A | 0.0 | 1.0 | (0.6) | ||||||||||||
| Morocco | BBB- | 114 | 3,402 | 23.6 | 30.2 | 3.3 | 3.0 | 9.6 | 2.1 | 4.0 | ||||||||||||
| Mozambique | B | 18 | 678 | (21.3) | 18.7 | 8.0 | 12.8 | 0.0 | 5.0 | 20.0 | ||||||||||||
| Netherlands | AA+ | 865 | 51,362 | 28.0 | 18.4 | 0.8 | 2.1 | 6.8 | 0.3 | (1.0) | ||||||||||||
| New Zealand | AA | 190 | 42,169 | 18.3 | 20.8 | 3.5 | 9.8 | 5.9 | 1.5 | 4.2 | ||||||||||||
| Nigeria | BB- | 542 | 3,036 | 17.2 | 14.4 | 6.3 | 7.0 | 24.0 | 8.0 | 20.0 | ||||||||||||
| Norway | AAA | 470 | 91,924 | 35.9 | 24.6 | 1.5 | 6.0 | 3.6 | 1.9 | 5.8 | ||||||||||||
| Oman | A | 86 | 21,510 | 27.1 | 21.7 | 3.6 | 5.9 | N/A | 1.1 | 8.0 | ||||||||||||
| Pakistan | B- | 247 | 1,326 | 11.2 | 12.4 | 5.4 | 0.5 | 6.0 | 8.6 | 13.8 | ||||||||||||
| Panama | BBB | 47 | 11,724 | 11.7 | 21.5 | 5.6 | 5.6 | 4.5 | 3.5 | 9.3 | ||||||||||||
| Papua New Guinea | B+ | 16 | 2,149 | N/A | N/A | 5.8 | N/A | 0.0 | 5.3 | 13.0 | ||||||||||||
| Paraguay | BB | 32 | 4,657 | 15.5 | 15.2 | 4.8 | 10.0 | 5.5 | 4.4 | 15.7 | ||||||||||||
| Peru | BBB+ | 201 | 6,523 | 21.7 | 27.0 | 2.6 | 3.9 | 6.5 | 2.7 | 9.9 | ||||||||||||
| Philippines | BBB | 285 | 2,849 | 25.0 | 20.7 | 6.4 | 9.0 | 7.2 | 4.4 | 15.0 | ||||||||||||
| Poland | A- | 565 | 14,653 | 16.8 | 19.6 | 3.1 | 7.0 | 9.8 | 0.1 | 5.0 | ||||||||||||
| Portugal | BB | 232 | 22,194 | 15.2 | 14.9 | 0.9 | 1.0 | 14.2 | (0.2) | (3.0) | ||||||||||||
| Qatar | AA | 218 | 94,207 | N/A | N/A | 6.0 | N/A | 0.1 | 3.5 | 10.0 | ||||||||||||
| Ras Al Khaimah | A | 8 | 16,795 | N/A | N/A | 6.0 | N/A | 3.5 | 2.0 | N/A | ||||||||||||
| Romania | BBB- | 196 | 9,846 | 23.0 | 24.1 | 2.2 | 0.5 | 7.2 | 2.0 | 0.3 | ||||||||||||
| Russia | BBB- | 1,911 | 13,323 | 23.6 | 20.4 | 0.5 | (4.0) | 5.3 | 7.7 | 15.0 | ||||||||||||
| Rwanda | B | 8 | 700 | 15.6 | 26.0 | 6.0 | 8.0 | N/A | 5.0 | 16.0 | ||||||||||||
| Saudi Arabia | AA- | 752 | 24,398 | 38.6 | 25.0 | 4.2 | 7.0 | 5.5 | 2.8 | 14.0 | ||||||||||||
| Senegal | B+ | 16 | 1,085 | 16.1 | 25.4 | 4.5 | 6.0 | N/A | 1.7 | 9.0 | ||||||||||||
| Serbia | BB- | 45 | 6,275 | 12.0 | 17.5 | (1.2) | (0.6) | 27.0 | 2.8 | (2.0) | ||||||||||||
| Sharjah | A | 23 | 27,373 | N/A | N/A | 6.0 | N/A | N/A | 2.4 | N/A | ||||||||||||
| Singapore | AAA | 306 | 55,927 | 43.3 | 24.8 | 3.2 | (1.1) | 2.0 | 1.2 | 4.4 | ||||||||||||
| Slovak Republic | A | 101 | 18,559 | 23.0 | 21.0 | 2.4 | 1.5 | 14.0 | 0.1 | 5.5 | ||||||||||||
| Slovenia | A- | 49 | 23,775 | 25.5 | 20.0 | 1.4 | 3.0 | 9.9 | 0.5 | 1.5 | ||||||||||||
| South Africa | BBB- | 344 | 6,464 | 14.3 | 19.8 | 1.4 | (1.0) | 24.2 | 6.1 | 8.0 | ||||||||||||
| Spain | BBB | 1,412 | 30,136 | 19.9 | 18.5 | 1.3 | 1.8 | 24.6 | (0.1) | (5.0) | ||||||||||||
| Sri Lanka | B+ | 78 | 3,767 | 24.5 | 27.7 | 7.3 | 5.8 | 3.9 | 4.0 | 9.0 | ||||||||||||
| Suriname | BB- | 6 | 9,995 | N/A | N/A | 4.0 | N/A | 8.9 | 1.7 | 3.6 | ||||||||||||
| Sweden | AAA | 573 | 59,504 | 28.9 | 22.7 | 1.8 | 4.5 | 7.8 | 0.0 | 6.0 | ||||||||||||
| Switzerland | AAA | 710 | 86,303 | 36.0 | 23.6 | 1.3 | 2.4 | 3.1 | 0.0 | 1.5 | ||||||||||||
| Taiwan | AA- | 532 | 22,733 | 33.0 | 21.7 | 3.6 | 2.3 | 4.0 | 1.5 | 5.0 | ||||||||||||
| Thailand | BBB+ | 382 | 5,863 | 27.2 | 26.6 | 1.1 | 0.5 | 1.3 | 2.1 | 8.0 | ||||||||||||
| Trinidad and Tobago | A | 29 | 21,975 | 15.0 | 12.4 | 1.0 | 1.0 | 4.0 | 5.5 | 8.8 | ||||||||||||
| Turkey | BB+ | 802 | 10,579 | 14.2 | 19.6 | 2.9 | (2.1) | 9.5 | 8.9 | 14.0 | ||||||||||||
| Turks and Caicos | BBB+ | 1 | 23,299 | (37.7) | 16.7 | 4.0 | 4.0 | 14.0 | 2.0 | 5.6 | ||||||||||||
| Uganda | B | 26 | 659 | 14.2 | 24.4 | 6.0 | 8.0 | N/A | 5.5 | 10.0 | ||||||||||||
| Ukraine | CCC | 127 | 2,810 | 13.2 | 17.3 | (7.0) | (9.0) | 9.0 | 23.0 | 13.0 | ||||||||||||
| United Kingdom | AAA | 2,992 | 47,159 | 11.9 | 16.9 | 3.2 | 6.5 | 6.1 | 1.6 | 2.0 | ||||||||||||
| United States | AA+ | 17,431 | 54,661 | 19.5 | 21.1 | 2.2 | 8.2 | 6.2 | 1.7 | 4.2 | ||||||||||||
| Uruguay | BBB- | 56 | 16,720 | 17.2 | 22.9 | 3.0 | 3.0 | 6.5 | 8.5 | 15.0 | ||||||||||||
| Venezuela | CCC+ | 400 | 12,956 | 22.2 | 19.3 | (3.5) | 3.0 | 7.5 | 65.0 | 59.4 | ||||||||||||
| Vietnam | BB- | 193 | 2,132 | 25.4 | 22.1 | 5.5 | 6.0 | 3.4 | 4.8 | 13.5 | ||||||||||||
| Zambia | B+ | 25 | 1,674 | 25.2 | 24.9 | 6.5 | 7.5 | N/A | 7.5 | 5.0 | ||||||||||||
| LT FC--Long-term foreign currency. DC--Depository corporation. N/A--Not available. N.M.--Not meaningful. e--Estimate. f--Forecast. | ||||||||||||||||||||||
Government Data
Table 2 | Download Table | View Expanded Table
| Sovereign Risk Indicators: General Government Data | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| General government debt (% GDP) | Fiscal performance (% GDP) | |||||||||||||||||||
| Net | Net of gov. deposits | Gross | Surplus (deficit) | Primary balance | Revenues | Expenditures | Interest | |||||||||||||
| LT FC rating | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | ||||||||||||
| Abu Dhabi | AA | (211) | (14) | 2 | 8.2 | 8.3 | 42 | 34 | 0.1 | |||||||||||
| Albania | B | 66 | 66 | 68 | (5.5) | (2.4) | 25 | 30 | 3.1 | |||||||||||
| Andorra | BBB+ | (2) | 39 | 39 | 3.7 | 4.7 | 21 | 17 | 1.0 | |||||||||||
| Angola | BB- | 11 | 11 | 24 | (1.0) | 0.1 | 35 | 36 | 1.1 | |||||||||||
| Argentina | SD | 40 | 40 | 42 | (3.2) | (1.1) | 30 | 34 | 2.1 | |||||||||||
| Aruba | BBB+ | 23 | 54 | 58 | (3.1) | 0.8 | 43 | 46 | 3.8 | |||||||||||
| Australia | AAA | 21 | 29 | 32 | (3.9) | (2.5) | 33 | 37 | 1.4 | |||||||||||
| Austria | AA+ | 78 | 80 | 81 | (2.7) | 0.2 | 50 | 52 | 2.9 | |||||||||||
| Azerbaijan | BBB- | (46) | 0 | 7 | (0.4) | (0.1) | 37 | 37 | 0.3 | |||||||||||
| Bahamas | BBB | 49 | 49 | 51 | (5.0) | (2.5) | 22 | 27 | 2.4 | |||||||||||
| Bahrain | BBB | 10 | 27 | 42 | (2.8) | (0.9) | 27 | 29 | 1.9 | |||||||||||
| Bangladesh | BB- | 29 | 30 | 35 | (3.9) | (1.7) | 12 | 16 | 2.3 | |||||||||||
| Barbados | BB- | 81 | 98 | 103 | (7.0) | (1.3) | 37 | 44 | 5.8 | |||||||||||
| Belarus | B- | 19 | 19 | 29 | 0.2 | 1.5 | 41 | 40 | 1.3 | |||||||||||
| Belgium | AA | 99 | 103 | 104 | (2.9) | 0.3 | 51 | 54 | 3.2 | |||||||||||
| Belize | B- | 60 | 61 | 73 | (1.7) | 1.2 | 28 | 30 | 2.9 | |||||||||||
| Bermuda | AA- | (6) | 34 | 38 | (3.8) | (1.9) | 18 | 21 | 2.0 | |||||||||||
| Bolivia | BB | 5 | 6 | 27 | 1.1 | 1.9 | 37 | 36 | 0.8 | |||||||||||
| Bosnia and Herzegovina | B | 41 | 43 | 46 | (4.5) | (3.8) | 44 | 49 | 0.8 | |||||||||||
| Botswana | A- | (2) | (2) | 14 | 1.0 | 1.7 | 38 | 37 | 0.7 | |||||||||||
| Brazil | BBB- | 49 | 49 | 61 | (5.2) | (0.1) | 41 | 46 | 5.2 | |||||||||||
| Bulgaria | BB+ | 19 | 19 | 29 | (3.5) | (2.7) | 37 | 41 | 0.8 | |||||||||||
| Burkina Faso | B- | 26 | 26 | 31 | (4.0) | (3.5) | 23 | 27 | 0.5 | |||||||||||
| Cameroon | B | 18 | 18 | 23 | (4.9) | (4.3) | 18 | 23 | 0.6 | |||||||||||
| Canada | AAA | 47 | 65 | 69 | (2.1) | 0.5 | 38 | 41 | 2.6 | |||||||||||
| Cape Verde | B | 98 | 103 | 108 | (8.0) | (5.9) | 24 | 32 | 2.2 | |||||||||||
| Chile | AA- | 2 | 14 | 18 | (1.9) | (1.4) | 23 | 25 | 0.5 | |||||||||||
| China | AA- | 15 | 15 | 19 | (1.3) | (0.8) | 27 | 28 | 0.5 | |||||||||||
| Colombia | BBB | 25 | 28 | 32 | (1.8) | 0.5 | 27 | 29 | 2.3 | |||||||||||
| Congo | B+ | 12 | 19 | 37 | 6.0 | 6.2 | 39 | 33 | 0.2 | |||||||||||
| Congo, DR | B- | 14 | 14 | 16 | (0.7) | (0.3) | 13 | 14 | 0.4 | |||||||||||
| Cook Islands | B+ | 19 | 19 | 27 | 2.1 | 2.4 | 44 | 42 | 0.4 | |||||||||||
| Costa Rica | BB | 37 | 43 | 45 | (5.7) | (3.3) | 26 | 31 | 2.5 | |||||||||||
| Croatia | BB | 76 | 76 | 80 | (4.6) | (0.7) | 40 | 45 | 3.8 | |||||||||||
| Curacao | A- | (43) | 21 | 34 | 0.6 | 1.6 | 46 | 45 | 1.0 | |||||||||||
| Cyprus | B+ | 102 | 102 | 107 | (3.1) | 0.1 | 38 | 41 | 3.2 | |||||||||||
| Czech Republic | AA- | 38 | 38 | 46 | (1.5) | (0.2) | 41 | 43 | 1.3 | |||||||||||
| Denmark | AAA | 33 | 35 | 45 | (1.2) | 0.2 | 56 | 57 | 1.4 | |||||||||||
| Dominican Republic | B+ | 44 | 44 | 46 | (4.5) | (2.1) | 15 | 19 | 2.4 | |||||||||||
| Ecuador | B+ | 25 | 25 | 27 | (4.5) | (2.9) | 40 | 45 | 1.6 | |||||||||||
| Egypt | B- | 81 | 81 | 89 | (12.8) | (3.9) | 23 | 36 | 8.9 | |||||||||||
| El Salvador | BB- | 56 | 56 | 58 | (3.8) | (0.9) | 20 | 24 | 2.9 | |||||||||||
| Estonia | AA- | (1) | 6 | 8 | (0.4) | (0.3) | 38 | 39 | 0.2 | |||||||||||
| Ethiopia | B | 23 | 23 | 27 | (2.6) | (2.2) | 15 | 18 | 0.4 | |||||||||||
| Fiji | B | 44 | 47 | 50 | (2.1) | 1.7 | 28 | 30 | 3.8 | |||||||||||
| Finland | AA+ | 22 | 57 | 58 | (2.7) | (1.7) | 58 | 61 | 1.0 | |||||||||||
| France | AA | 87 | 93 | 94 | (4.4) | (2.2) | 52 | 57 | 2.2 | |||||||||||
| Gabon | BB- | 22 | 22 | 33 | 3.0 | 4.7 | 26 | 23 | 1.7 | |||||||||||
| Georgia | BB- | 30 | 30 | 32 | (3.6) | (2.8) | 28 | 32 | 0.8 | |||||||||||
| Germany | AAA | 71 | 72 | 73 | 0.0 | 1.9 | 44 | 44 | 1.9 | |||||||||||
| Ghana | B- | 56 | 56 | 58 | (10.0) | (4.6) | 23 | 33 | 5.4 | |||||||||||
| Greece | B | 170 | 170 | 177 | (2.0) | 1.8 | 44 | 46 | 3.8 | |||||||||||
| Guatemala | BB | 16 | 16 | 22 | (2.3) | (0.8) | 12 | 14 | 1.6 | |||||||||||
| Guernsey | AA+ | (102) | 0 | 0 | (1.0) | (1.0) | 30 | 31 | 0.0 | |||||||||||
| Honduras | B | 35 | 36 | 47 | (4.1) | (1.5) | 18 | 22 | 2.5 | |||||||||||
| Hong Kong | AAA | (35) | (35) | 0 | 0.9 | 0.9 | 20 | 19 | 0.0 | |||||||||||
| Hungary | BB | 77 | 77 | 80 | (2.9) | 1.0 | 46 | 49 | 3.9 | |||||||||||
| Iceland | BBB- | 67 | 67 | 88 | 0.6 | 5.1 | 44 | 44 | 4.5 | |||||||||||
| India | BBB- | 71 | 71 | 72 | (7.2) | (1.8) | 22 | 29 | 5.4 | |||||||||||
| Indonesia | BB+ | 24 | 24 | 26 | (2.2) | (0.8) | 16 | 18 | 1.4 | |||||||||||
| Ireland | A | 110 | 117 | 119 | (3.7) | 0.8 | 35 | 38 | 4.5 | |||||||||||
| Israel | A+ | 66 | 66 | 69 | (3.3) | 0.5 | 36 | 40 | 3.7 | |||||||||||
| Italy | BBB- | 124 | 127 | 130 | (3.1) | 1.7 | 48 | 51 | 4.8 | |||||||||||
| Jamaica | B- | 127 | 127 | 135 | 0.5 | 7.5 | 28 | 28 | 7.1 | |||||||||||
| Japan | AA- | 148 | 244 | 249 | (8.0) | (5.1) | 49 | 57 | 2.9 | |||||||||||
| Jersey | AA+ | (118) | 4 | 6 | (2.0) | (2.0) | 17 | 19 | 0.0 | |||||||||||
| Jordan | BB- | 65 | 72 | 78 | (8.0) | (4.4) | 32 | 40 | 3.6 | |||||||||||
| Kazakhstan | BBB+ | (25) | 11 | 15 | 1.9 | 2.5 | 24 | 22 | 0.6 | |||||||||||
| Kenya | B+ | 49 | 50 | 54 | (6.0) | (3.0) | 25 | 31 | 3.0 | |||||||||||
| Korea | A+ | 24 | 24 | 28 | 0.9 | 1.9 | 35 | 34 | 1.0 | |||||||||||
| Kuwait | AA | (276) | (5) | 5 | 35.5 | 35.5 | 74 | 38 | 0.0 | |||||||||||
| Latvia | A- | 32 | 33 | 39 | (1.3) | 0.1 | 34 | 35 | 1.4 | |||||||||||
| Lebanon | B- | 123 | 123 | 144 | (10.0) | (1.3) | 21 | 31 | 8.7 | |||||||||||
| Liechtenstein | AAA | (102) | (4) | 0 | (2.1) | (2.1) | 18 | 20 | 0.0 | |||||||||||
| Lithuania | A- | 36 | 36 | 41 | (1.3) | 0.7 | 32 | 33 | 2.0 | |||||||||||
| Luxembourg | AAA | (17) | 15 | 22 | 0.1 | 0.5 | 44 | 44 | 0.4 | |||||||||||
| Macedonia | BB- | 30 | 30 | 40 | (3.9) | (3.0) | 32 | 36 | 0.9 | |||||||||||
| Malaysia | A- | 49 | 49 | 54 | (5.7) | (3.5) | 18 | 24 | 2.3 | |||||||||||
| Malta | BBB+ | 57 | 60 | 67 | (2.4) | 0.6 | 41 | 43 | 3.0 | |||||||||||
| Mexico | BBB+ | 40 | 40 | 41 | (3.2) | (1.5) | 20 | 23 | 1.7 | |||||||||||
| Mongolia | B+ | 40 | 40 | 51 | (10.0) | (9.2) | 29 | 39 | 0.8 | |||||||||||
| Montenegro | B+ | 59 | 59 | 61 | (0.9) | 1.4 | 43 | 44 | 2.3 | |||||||||||
| Montserrat | BBB- | (25) | 4 | 4 | 0.0 | 0.1 | 75 | 75 | 0.1 | |||||||||||
| Morocco | BBB- | 48 | 48 | 51 | (3.3) | (0.5) | 36 | 39 | 2.8 | |||||||||||
| Mozambique | B | 32 | 35 | 51 | (9.2) | (8.2) | 33 | 42 | 1.0 | |||||||||||
| Netherlands | AA+ | 65 | 67 | 68 | (2.6) | (1.1) | 45 | 47 | 1.5 | |||||||||||
| New Zealand | AA | 22 | 37 | 41 | (2.5) | (0.7) | 33 | 35 | 1.9 | |||||||||||
| Nigeria | BB- | 11 | 14 | 18 | (2.5) | (1.1) | 16 | 19 | 1.4 | |||||||||||
| Norway | AAA | (141) | 26 | 29 | 10.9 | 11.7 | 55 | 44 | 0.9 | |||||||||||
| Oman | A | (76) | (12) | 4 | 2.8 | 3.0 | 48 | 46 | 0.2 | |||||||||||
| Pakistan | B- | 57 | 59 | 62 | (5.1) | (0.5) | 15 | 20 | 4.5 | |||||||||||
| Panama | BBB | 13 | 17 | 31 | (3.1) | (1.2) | 23 | 26 | 1.9 | |||||||||||
| Papua New Guinea | B+ | 30 | 30 | 42 | (5.9) | (4.3) | 25 | 31 | 1.6 | |||||||||||
| Paraguay | BB | 6 | 7 | 15 | (1.8) | (1.4) | 17 | 19 | 0.3 | |||||||||||
| Peru | BBB+ | 5 | 5 | 16 | 0.5 | 1.3 | 22 | 21 | 0.8 | |||||||||||
| Philippines | BBB | 27 | 38 | 44 | (0.7) | 1.6 | 21 | 22 | 2.3 | |||||||||||
| Poland | A- | 46 | 47 | 49 | (3.4) | (0.9) | 38 | 41 | 2.5 | |||||||||||
| Portugal | BB | 122 | 122 | 127 | (4.8) | 0.2 | 45 | 50 | 5.0 | |||||||||||
| Qatar | AA | (92) | 8 | 24 | 8.0 | 9.0 | 42 | 34 | 0.9 | |||||||||||
| Ras Al Khaimah | A | (18) | 17 | 23 | 3.5 | 4.5 | 19 | 16 | 1.0 | |||||||||||
| Romania | BBB- | 33 | 33 | 38 | (2.2) | (0.4) | 33 | 35 | 1.8 | |||||||||||
| Russia | BBB- | 0 | 10 | 15 | (0.4) | 0.4 | 37 | 37 | 0.8 | |||||||||||
| Rwanda | B | 22 | 22 | 29 | (3.5) | (2.8) | 26 | 30 | 0.7 | |||||||||||
| Saudi Arabia | AA- | (119) | 1 | 1 | 1.0 | 1.1 | 42 | 41 | 0.1 | |||||||||||
| Senegal | B+ | 42 | 42 | 48 | (5.1) | (3.3) | 23 | 29 | 1.9 | |||||||||||
| Serbia | BB- | 56 | 56 | 63 | (7.5) | (4.7) | 40 | 47 | 2.7 | |||||||||||
| Sharjah | A | 5 | 9 | 9 | (2.6) | (2.2) | 5 | 8 | 0.4 | |||||||||||
| Singapore | AAA | (83) | 65 | 109 | 3.0 | 3.0 | 22 | 19 | 0.0 | |||||||||||
| Slovak Republic | A | 48 | 49 | 54 | (2.8) | (0.8) | 34 | 36 | 2.0 | |||||||||||
| Slovenia | A- | 71 | 77 | 83 | (6.9) | (2.7) | 46 | 52 | 3.0 | |||||||||||
| South Africa | BBB- | 42 | 46 | 46 | (4.1) | (1.1) | 29 | 33 | 3.0 | |||||||||||
| Spain | BBB | 88 | 91 | 96 | (5.5) | (2.0) | 38 | 44 | 3.5 | |||||||||||
| Sri Lanka | B+ | 74 | 74 | 75 | (5.4) | 0.1 | 14 | 20 | 5.5 | |||||||||||
| Suriname | BB- | 23 | 28 | 30 | (2.4) | (0.3) | 23 | 25 | 2.1 | |||||||||||
| Sweden | AAA | 27 | 35 | 41 | (2.3) | (1.4) | 51 | 53 | 0.9 | |||||||||||
| Switzerland | AAA | 25 | 33 | 34 | (0.2) | 0.6 | 31 | 32 | 0.7 | |||||||||||
| Taiwan | AA- | 42 | 42 | 46 | (2.0) | (1.1) | 17 | 19 | 0.9 | |||||||||||
| Thailand | BBB+ | 24 | 24 | 34 | (0.8) | 0.6 | 21 | 22 | 1.4 | |||||||||||
| Trinidad and Tobago | A | 18 | 51 | 54 | (1.5) | (0.1) | 31 | 33 | 1.4 | |||||||||||
| Turkey | BB+ | 32 | 32 | 36 | (1.6) | 0.8 | 40 | 41 | 2.4 | |||||||||||
| Turks and Caicos | BBB+ | (10) | 15 | 24 | 5.2 | 6.1 | 33 | 28 | 0.9 | |||||||||||
| Uganda | B | 13 | 14 | 31 | (5.0) | (3.7) | 14 | 19 | 1.3 | |||||||||||
| Ukraine | CCC | 64 | 64 | 64 | (12.0) | (8.7) | 42 | 54 | 3.3 | |||||||||||
| United Kingdom | AAA | 82 | 86 | 88 | (5.4) | (3.2) | 39 | 44 | 2.2 | |||||||||||
| United States | AA+ | 79 | 85 | 88 | (4.2) | (2.0) | 36 | 40 | 2.2 | |||||||||||
| Uruguay | BBB- | 55 | 57 | 61 | (2.0) | 0.8 | 39 | 41 | 2.8 | |||||||||||
| Venezuela | CCC+ | 25 | 29 | 30 | (3.1) | (0.6) | 26 | 29 | 2.6 | |||||||||||
| Vietnam | BB- | 40 | 40 | 43 | (3.4) | (2.0) | 23 | 26 | 1.4 | |||||||||||
| Zambia | B+ | 29 | 29 | 36 | (7.5) | (5.7) | 20 | 28 | 1.8 | |||||||||||
| LT FC--Long-term foreign currency. DC--Depository corporation. N/A--Not available. N.M.--Not meaningful. e--Estimate. f--Forecast. | ||||||||||||||||||||
Balance-Of-Payments Data
Table 3 | Download Table | View Expanded Table
| Sovereign Risk Indicators: Balance-Of-Payments Data | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CARs / GDP (%) | Real exports (% chg) | Current account balance / GDP (%) | Current account balance / CARs (%) | Net ext. borrowing / CARs (%) | Reserves / CAPs (months) | Gross ext. fin. needs / CARs + use. res. (%) | (Gross ext. fin. Needs - equity) / CARs + use. res. (%) | Net FDI / GDP (%) | ||||||||||||||
| LT FC rating | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | |||||||||||||
| Abu Dhabi | AA | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||
| Albania | B | 49 | 12.0 | (10.5) | (21.5) | (0.5) | 4.1 | 116 | 102 | 9.8 | ||||||||||||
| Andorra | BBB+ | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||
| Angola | BB- | 44 | 2.0 | 3.4 | 7.6 | 13.1 | 6.0 | 81 | 95 | (9.0) | ||||||||||||
| Argentina | SD | 18 | (2.5) | (0.6) | (3.1) | (2.2) | 3.5 | 91 | 87 | 1.0 | ||||||||||||
| Aruba | BBB+ | 91 | 3.4 | (8.5) | (9.3) | 4.0 | 0.5 | 121 | 116 | 4.5 | ||||||||||||
| Australia | AAA | 25 | 6.3 | (3.0) | (12.1) | 4.4 | 1.4 | 244 | 237 | 3.4 | ||||||||||||
| Austria | AA+ | 64 | 0.8 | 2.0 | 3.2 | 0.4 | 1.0 | 199 | 202 | (2.0) | ||||||||||||
| Azerbaijan | BBB- | 50 | 0.0 | 12.4 | 24.6 | (23.6) | 6.1 | 64 | 65 | (0.5) | ||||||||||||
| Bahamas | BBB | 42 | (6.6) | (17.1) | (40.3) | 28.3 | (0.1) | 157 | 145 | 5.2 | ||||||||||||
| Bahrain | BBB | 82 | 5.0 | 6.1 | 7.5 | (20.0) | 2.5 | 422 | 412 | 0.0 | ||||||||||||
| Bangladesh | BB- | 32 | 12.0 | 1.0 | 3.2 | (7.8) | 4.7 | 76 | 74 | 1.0 | ||||||||||||
| Barbados | BB- | 53 | 0.5 | (8.9) | (16.9) | 1.3 | 0.0 | 159 | 143 | 8.2 | ||||||||||||
| Belarus | B- | 61 | (2.0) | (8.7) | (14.3) | 10.1 | 1.1 | 139 | 135 | 2.5 | ||||||||||||
| Belgium | AA | 97 | 3.1 | (1.7) | (1.7) | (1.8) | 0.6 | 194 | 190 | 3.0 | ||||||||||||
| Belize | B- | 70 | N/A | (6.6) | (9.4) | (10.2) | 0.7 | 118 | 102 | 11.7 | ||||||||||||
| Bermuda | AA- | 57 | 2.5 | 12.4 | 21.6 | (27.0) | 0.1 | 352 | 347 | 2.2 | ||||||||||||
| Bolivia | BB | 46 | 5.7 | 2.9 | 6.3 | (16.7) | 11.0 | 54 | 50 | 5.4 | ||||||||||||
| Bosnia and Herzegovina | B | 50 | (0.5) | (10.8) | (21.5) | 13.5 | 0.4 | 164 | 161 | 2.0 | ||||||||||||
| Botswana | A- | 69 | 10.5 | 4.9 | 7.1 | (10.2) | 9.0 | 59 | 58 | 2.8 | ||||||||||||
| Brazil | BBB- | 13 | 2.8 | (4.2) | (31.6) | 3.5 | 11.8 | 72 | 60 | 3.0 | ||||||||||||
| Bulgaria | BB+ | 79 | 1.5 | 2.0 | 2.6 | (5.1) | 1.9 | 119 | 118 | 2.0 | ||||||||||||
| Burkina Faso | B- | 33 | 12.0 | (8.7) | (26.1) | 13.4 | (0.3) | 147 | 143 | 1.0 | ||||||||||||
| Cameroon | B | 30 | 2.9 | (5.8) | (19.0) | 12.2 | (1.4) | 155 | 150 | 1.4 | ||||||||||||
| Canada | AAA | 37 | 2.3 | (2.1) | (5.7) | (3.1) | 1.2 | 163 | 155 | 0.5 | ||||||||||||
| Cape Verde | B | 66 | 6.0 | (8.2) | (12.5) | 6.4 | 0.0 | 176 | 172 | 3.0 | ||||||||||||
| Chile | AA- | 41 | 2.4 | (1.6) | (4.0) | (4.3) | 4.6 | 103 | 97 | 2.6 | ||||||||||||
| China | AA- | 28 | 6.0 | 2.0 | 7.2 | (12.5) | 17.1 | 53 | 51 | 1.1 | ||||||||||||
| Colombia | BBB | 21 | 5.0 | (3.9) | (18.7) | (5.4) | 5.4 | 98 | 83 | 3.7 | ||||||||||||
| Congo | B+ | 73 | 12.0 | (4.4) | (6.0) | (16.2) | 3.8 | 82 | 65 | 16.0 | ||||||||||||
| Congo, DR | B- | 39 | 9.9 | (9.3) | (24.0) | (0.5) | 1.1 | 116 | 96 | 9.5 | ||||||||||||
| Cook Islands | B+ | 104 | N/A | 23.8 | 22.9 | (22.9) | 0.0 | N/A | N/A | 0.0 | ||||||||||||
| Costa Rica | BB | 40 | 3.6 | (4.9) | (12.2) | 0.3 | 3.6 | 101 | 92 | 4.8 | ||||||||||||
| Croatia | BB | 51 | 0.2 | 0.6 | 1.1 | (4.7) | 6.8 | 102 | 100 | 1.5 | ||||||||||||
| Curacao | A- | 80 | N/A | (14.5) | (18.1) | (7.5) | 1.3 | 146 | 125 | 5.7 | ||||||||||||
| Cyprus | B+ | 49 | (2.7) | (0.1) | (0.2) | (8.6) | 1.0 | 543 | 536 | 0.8 | ||||||||||||
| Czech Republic | AA- | 84 | 5.0 | (1.4) | (1.7) | 0.2 | 3.7 | 98 | 97 | 0.9 | ||||||||||||
| Denmark | AAA | 68 | 3.9 | 5.9 | 8.8 | (3.9) | 5.0 | 182 | 185 | (2.3) | ||||||||||||
| Dominican Republic | B+ | 33 | 8.0 | (3.8) | (11.4) | 9.0 | 1.9 | 110 | 108 | 2.4 | ||||||||||||
| Ecuador | B+ | 33 | 2.1 | (2.6) | (8.0) | 4.9 | 1.1 | 112 | 109 | 0.9 | ||||||||||||
| Egypt | B- | 24 | 4.0 | (2.1) | (8.9) | 5.5 | 2.2 | 102 | 100 | 1.0 | ||||||||||||
| El Salvador | BB- | 43 | 2.2 | (5.1) | (11.8) | 8.0 | 2.7 | 107 | 106 | 0.8 | ||||||||||||
| Estonia | AA- | 93 | 0.8 | (0.6) | (0.6) | (0.1) | 0.2 | 157 | 157 | 0.9 | ||||||||||||
| Ethiopia | B | 22 | 6.5 | (7.9) | (36.6) | 3.7 | 1.5 | 125 | 114 | 2.7 | ||||||||||||
| Fiji | B | 63 | 4.3 | (2.8) | (4.5) | (5.5) | 4.0 | 89 | 82 | 7.1 | ||||||||||||
| Finland | AA+ | 46 | (0.8) | (1.7) | (3.6) | 10.2 | 1.1 | 392 | 398 | (1.0) | ||||||||||||
| France | AA | 40 | 2.7 | (1.6) | (3.9) | 2.9 | 1.5 | 369 | 368 | (0.7) | ||||||||||||
| Gabon | BB- | 57 | 0.8 | 8.2 | 14.5 | (21.6) | 3.0 | 95 | 89 | 4.0 | ||||||||||||
| Georgia | BB- | 61 | 5.0 | (8.7) | (14.1) | 5.1 | 2.5 | 112 | 106 | 4.3 | ||||||||||||
| Germany | AAA | 55 | 3.4 | 6.2 | 11.3 | (6.2) | 1.3 | 177 | 182 | (1.3) | ||||||||||||
| Ghana | B- | 35 | 10.0 | (11.7) | (33.2) | 17.5 | 2.9 | 127 | 115 | 5.0 | ||||||||||||
| Greece | B | 35 | 7.0 | 0.7 | 1.9 | (27.4) | 0.8 | 336 | 317 | 2.0 | ||||||||||||
| Guatemala | BB | 35 | 3.3 | (3.1) | (8.9) | 1.9 | 4.0 | 95 | 90 | 2.3 | ||||||||||||
| Guernsey | AA+ | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0 | ||||||||||||
| Honduras | B | 65 | 3.1 | (7.8) | (12.0) | 2.2 | 2.2 | 100 | 93 | 5.5 | ||||||||||||
| Hong Kong | AAA | 286 | 3.9 | 2.0 | 0.7 | 2.9 | 2.2 | 174 | 177 | (5.0) | ||||||||||||
| Hungary | BB | 101 | 6.0 | 4.0 | 4.0 | (7.8) | 4.3 | 103 | 102 | 0.2 | ||||||||||||
| Iceland | BBB- | 61 | 4.7 | 4.0 | 6.5 | (17.2) | 5.2 | 94 | 87 | 6.0 | ||||||||||||
| India | BBB- | 33 | 7.2 | (1.8) | (5.6) | 1.0 | 5.6 | 93 | 90 | 1.2 | ||||||||||||
| Indonesia | BB+ | 24 | (0.8) | (2.9) | (12.1) | 1.4 | 5.2 | 100 | 93 | 1.6 | ||||||||||||
| Ireland | A | 151 | 5.4 | 5.0 | 3.3 | (16.2) | 0.1 | 431 | 417 | 5.0 | ||||||||||||
| Israel | A+ | 39 | 1.5 | 1.6 | 4.2 | (5.8) | 8.6 | 79 | 77 | 2.8 | ||||||||||||
| Italy | BBB- | 33 | 1.6 | 1.5 | 4.6 | (5.8) | 2.5 | 218 | 217 | (0.4) | ||||||||||||
| Jamaica | B- | 56 | 1.2 | (7.0) | (12.5) | 5.6 | 2.2 | 111 | 105 | 3.6 | ||||||||||||
| Japan | AA- | 24 | 1.6 | 0.5 | 2.2 | 2.5 | 14.1 | 150 | 152 | (2.0) | ||||||||||||
| Jersey | AA+ | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0 | ||||||||||||
| Jordan | BB- | 66 | 3.0 | (8.5) | (13.0) | 4.5 | 6.2 | 108 | 103 | 5.3 | ||||||||||||
| Kazakhstan | BBB+ | 42 | 0.0 | 1.6 | 3.8 | (9.8) | 3.4 | 108 | 104 | 3.5 | ||||||||||||
| Kenya | B+ | 26 | 2.0 | (7.8) | (30.0) | 26.9 | 4.0 | 116 | 115 | 0.9 | ||||||||||||
| Korea | A+ | 60 | 6.0 | 6.1 | 10.1 | (7.3) | 6.1 | 77 | 79 | (1.2) | ||||||||||||
| Kuwait | AA | 72 | 2.0 | 35.3 | 49.3 | (41.6) | 5.3 | 53 | 62 | (3.0) | ||||||||||||
| Latvia | A- | 68 | 1.0 | (2.5) | (3.6) | (0.2) | 1.4 | 189 | 189 | 0.9 | ||||||||||||
| Lebanon | B- | 67 | 0.5 | (24.2) | (35.9) | 24.0 | 10.6 | 112 | 107 | 6.0 | ||||||||||||
| Liechtenstein | AAA | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0 | ||||||||||||
| Lithuania | A- | 90 | 2.5 | 1.4 | 1.6 | (3.4) | 0.4 | 129 | 130 | 0.2 | ||||||||||||
| Luxembourg | AAA | 710 | 2.3 | 4.7 | 0.7 | (32.4) | 0.0 | 615 | 583 | 25.9 | ||||||||||||
| Macedonia | BB- | 68 | 4.0 | (3.1) | (4.5) | 3.0 | 1.9 | 112 | 111 | 1.9 | ||||||||||||
| Malaysia | A- | 88 | 5.0 | 6.4 | 7.3 | (6.1) | 6.0 | 93 | 94 | (1.0) | ||||||||||||
| Malta | BBB+ | 129 | 2.8 | 0.5 | 0.4 | (1.4) | 0.5 | 414 | 414 | 3.3 | ||||||||||||
| Mexico | BBB+ | 36 | 4.0 | (2.0) | (5.4) | 2.6 | 4.5 | 89 | 87 | 1.0 | ||||||||||||
| Mongolia | B+ | 47 | 20.0 | (20.0) | (42.1) | 27.4 | 2.9 | 118 | 109 | 6.0 | ||||||||||||
| Montenegro | B+ | 54 | 0.1 | (15.5) | (28.7) | 9.0 | 2.3 | 147 | 131 | 11.0 | ||||||||||||
| Montserrat | BBB- | 70 | N/A | (27.7) | (39.8) | (0.5) | (1.0) | 196 | 185 | 6.2 | ||||||||||||
| Morocco | BBB- | 45 | 5.0 | (6.6) | (14.7) | 7.0 | 3.9 | 97 | 92 | 3.3 | ||||||||||||
| Mozambique | B | 46 | 9.0 | (40.0) | (87.2) | 0.0 | 2.5 | 160 | 102 | 37.0 | ||||||||||||
| Netherlands | AA+ | 93 | 3.4 | 9.6 | 10.4 | 0.0 | 0.8 | 244 | 253 | (1.0) | ||||||||||||
| New Zealand | AA | 34 | 0.8 | (2.5) | (7.5) | 8.1 | 3.1 | 194 | 195 | 0.9 | ||||||||||||
| Nigeria | BB- | 21 | 9.0 | 2.9 | 13.4 | (21.8) | 5.2 | 87 | 81 | 2.0 | ||||||||||||
| Norway | AAA | 49 | 1.2 | 11.3 | 22.8 | (10.6) | 3.9 | 198 | 208 | (1.0) | ||||||||||||
| Oman | A | 74 | 3.3 | 5.4 | 7.2 | (9.2) | 3.2 | 95 | 94 | 0.8 | ||||||||||||
| Pakistan | B- | 21 | (1.4) | (1.2) | (5.8) | (2.1) | 1.7 | 113 | 110 | 0.6 | ||||||||||||
| Panama | BBB | 71 | 5.6 | (9.9) | (14.0) | (0.4) | 0.9 | 139 | 125 | 10.2 | ||||||||||||
| Papua New Guinea | B+ | 41 | 14.0 | (11.4) | (27.6) | (23.3) | 4.0 | 91 | 71 | 11.3 | ||||||||||||
| Paraguay | BB | 49 | 8.0 | 0.2 | 0.5 | (5.2) | 3.6 | 83 | 80 | 1.2 | ||||||||||||
| Peru | BBB+ | 26 | (0.4) | (5.3) | (20.8) | (2.7) | 11.0 | 71 | 60 | 5.0 | ||||||||||||
| Philippines | BBB | 39 | 7.4 | 4.4 | 11.1 | (14.0) | 10.0 | 62 | 60 | 0.6 | ||||||||||||
| Poland | A- | 51 | 4.6 | (2.8) | (5.4) | 0.7 | 4.2 | 99 | 97 | 0.6 | ||||||||||||
| Portugal | BB | 49 | 3.5 | 0.4 | 0.7 | (6.8) | 1.9 | 221 | 219 | 1.5 | ||||||||||||
| Qatar | AA | 73 | N/A | 26.1 | 36.0 | (29.1) | 4.2 | 83 | 87 | (1.0) | ||||||||||||
| Ras Al Khaimah | A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||
| Romania | BBB- | 45 | 4.5 | (1.1) | (2.4) | (8.6) | 6.5 | 86 | 81 | 1.9 | ||||||||||||
| Russia | BBB- | 33 | 0.9 | 3.1 | 9.4 | (5.2) | 7.1 | 77 | 79 | (0.7) | ||||||||||||
| Rwanda | B | 29 | 7.0 | (10.3) | (35.6) | 15.8 | 5.5 | 92 | 86 | 2.8 | ||||||||||||
| Saudi Arabia | AA- | 52 | 1.7 | 13.6 | 26.0 | (28.9) | 3.3 | 65 | 62 | 1.5 | ||||||||||||
| Senegal | B+ | 46 | 4.6 | (9.4) | (20.6) | 9.5 | 0.1 | 131 | 125 | 2.3 | ||||||||||||
| Serbia | BB- | 55 | 2.4 | (5.5) | (10.0) | 4.9 | 5.1 | 100 | 97 | 2.6 | ||||||||||||
| Sharjah | A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||
| Singapore | AAA | 218 | 3.2 | 18.5 | 8.5 | (8.9) | 5.4 | 148 | 147 | 7.0 | ||||||||||||
| Slovak Republic | A | 103 | 4.0 | 2.0 | 2.0 | (3.7) | 0.3 | 126 | 126 | 0.8 | ||||||||||||
| Slovenia | A- | 85 | 4.0 | 5.5 | 6.4 | (6.7) | 0.3 | 128 | 127 | 0.3 | ||||||||||||
| South Africa | BBB- | 33 | 1.6 | (5.5) | (16.5) | 8.4 | 4.5 | 108 | 102 | 1.0 | ||||||||||||
| Spain | BBB | 37 | 3.5 | 1.3 | 3.6 | (2.6) | 1.1 | 244 | 246 | 0.0 | ||||||||||||
| Sri Lanka | B+ | 30 | 5.2 | (3.2) | (10.8) | 4.3 | 3.5 | 113 | 108 | 1.6 | ||||||||||||
| Suriname | BB- | 46 | N/A | (4.2) | (9.1) | 7.3 | 3.2 | 93 | 91 | 5.3 | ||||||||||||
| Sweden | AAA | 56 | 2.5 | 6.2 | 11.1 | (0.4) | 2.7 | 216 | 225 | (2.8) | ||||||||||||
| Switzerland | AAA | 97 | 3.7 | 12.3 | 12.8 | (10.1) | 10.8 | 144 | 145 | (4.0) | ||||||||||||
| Taiwan | AA- | 76 | 4.7 | 11.3 | 14.9 | (9.7) | 15.1 | 63 | 65 | (3.0) | ||||||||||||
| Thailand | BBB+ | 82 | 5.0 | 0.6 | 0.8 | (1.2) | 7.3 | 77 | 77 | 0.2 | ||||||||||||
| Trinidad and Tobago | A | 45 | 1.0 | 2.7 | 5.8 | (8.4) | 10.1 | 58 | 57 | 2.7 | ||||||||||||
| Turkey | BB+ | 29 | 7.0 | (5.4) | (18.5) | 13.7 | 5.4 | 135 | 132 | 1.1 | ||||||||||||
| Turks and Caicos | BBB+ | 2 | 4.0 | (54.3) | (2,407.6) | 2,407.6 | 0.0 | 2,540 | 2,540 | 0.0 | ||||||||||||
| Uganda | B | 29 | 4.0 | (10.1) | (35.2) | 13.7 | 4.0 | 111 | 97 | 5.2 | ||||||||||||
| Ukraine | CCC | 63 | (5.0) | (4.1) | (6.6) | 9.7 | 2.5 | 156 | 159 | (1.0) | ||||||||||||
| United Kingdom | AAA | 38 | 3.0 | (5.0) | (13.1) | 9.9 | 1.0 | 820 | 817 | 1.0 | ||||||||||||
| United States | AA+ | 19 | 3.6 | (1.6) | (8.1) | 13.1 | 1.5 | 340 | 344 | (1.2) | ||||||||||||
| Uruguay | BBB- | 25 | 3.0 | (5.7) | (22.7) | (1.1) | 7.0 | 98 | 85 | 5.2 | ||||||||||||
| Venezuela | CCC+ | 23 | 5.0 | 2.9 | 12.6 | (12.3) | 3.0 | 96 | 96 | (0.1) | ||||||||||||
| Vietnam | BB- | 88 | 6.5 | 3.3 | 3.7 | (9.4) | 1.9 | 90 | 86 | 4.0 | ||||||||||||
| Zambia | B+ | 48 | 6.0 | 0.3 | 0.7 | (22.6) | 2.7 | 94 | 78 | 7.0 | ||||||||||||
| LT FC--Long-term foreign currency. DC--Depository corporation. N/A--Not available. N.M.--Not meaningful. CARs--Current account receipts. CAP--Current account payments. e--Estimate. f--Forecast. | ||||||||||||||||||||||
External Balance Sheet
Table 4 | Download Table | View Expanded Table
| Sovereign Risk Indicators: External Balance Sheet | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net ext. liabilities / CARs (%) | Gross ext. debt / CARs (%) | Gross public sector ext. debt / CARs (%) | Net ext. debt / CAR (%) | Narrow net ext. debt / CARs (%) | Net invest paymts / CARs (%) | Net interest paymts / CARs (%) | ||||||||||||
| LT FC rating | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | 2014e | |||||||||||
| Abu Dhabi | AA | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||
| Albania | B | 73 | 98 | 53 | 11 | 14 | 0.0 | 1.7 | ||||||||||
| Andorra | BBB+ | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||
| Angola | BB- | (69) | 54 | 23 | (31) | 1 | 9.3 | 0.8 | ||||||||||
| Argentina | SD | (37) | 106 | 74 | (64) | 76 | 9.4 | 2.3 | ||||||||||
| Aruba | BBB+ | 145 | 74 | 40 | 14 | 31 | 7.0 | 2.6 | ||||||||||
| Australia | AAA | 230 | 391 | 65 | 190 | 267 | 10.0 | 6.0 | ||||||||||
| Austria | AA+ | (8) | 270 | 96 | 26 | 107 | 0.3 | 1.9 | ||||||||||
| Azerbaijan | BBB- | (98) | 35 | 16 | (113) | (105) | 11.6 | (0.9) | ||||||||||
| Bahamas | BBB | 240 | 73 | 55 | 47 | 47 | 10.1 | 1.6 | ||||||||||
| Bahrain | BBB | (40) | 442 | 25 | (85) | (81) | 18.5 | (0.8) | ||||||||||
| Bangladesh | BB- | 10 | 62 | 54 | (7) | 12 | 5.0 | 1.1 | ||||||||||
| Barbados | BB- | 62 | 95 | 78 | 34 | 34 | 13.7 | 3.1 | ||||||||||
| Belarus | B- | 102 | 90 | 37 | 62 | 76 | 4.0 | 2.0 | ||||||||||
| Belgium | AA | (47) | 176 | 58 | (33) | 61 | (0.6) | (1.1) | ||||||||||
| Belize | B- | 206 | 107 | 92 | 53 | 53 | 10.7 | 3.2 | ||||||||||
| Bermuda | AA- | (584) | 402 | 53 | (764) | (190) | (44.0) | 6.8 | ||||||||||
| Bolivia | BB | (37) | 41 | 34 | (104) | (75) | 12.8 | 0.4 | ||||||||||
| Bosnia and Herzegovina | B | 150 | 142 | 73 | 62 | 74 | (3.1) | (4.0) | ||||||||||
| Botswana | A- | (69) | 35 | 18 | (65) | (59) | 4.3 | (0.9) | ||||||||||
| Brazil | BBB- | 287 | 194 | 91 | 19 | 26 | 14.2 | 5.6 | ||||||||||
| Bulgaria | BB+ | 98 | 70 | 19 | (19) | (14) | 4.4 | 0.6 | ||||||||||
| Burkina Faso | B- | 48 | 99 | 81 | 48 | 57 | (0.4) | 0.1 | ||||||||||
| Cameroon | B | 59 | 61 | 21 | 13 | 40 | 12.5 | 0.0 | ||||||||||
| Canada | AAA | 2 | 191 | 75 | 75 | 87 | 2.1 | 3.8 | ||||||||||
| Cape Verde | B | 222 | 197 | 121 | 111 | 122 | 6.6 | 2.8 | ||||||||||
| Chile | AA- | 51 | 79 | 12 | (5) | (3) | 11.1 | 2.6 | ||||||||||
| China | AA- | (87) | 30 | 1 | (157) | (130) | 0.5 | 1.5 | ||||||||||
| Colombia | BBB | 139 | 113 | 63 | 1 | 45 | 19.2 | 4.0 | ||||||||||
| Congo | B+ | 135 | 44 | 35 | (63) | (44) | 24.0 | 0.2 | ||||||||||
| Congo, DR | B- | 38 | 53 | 34 | 19 | 30 | 29.4 | 0.3 | ||||||||||
| Cook Islands | B+ | 16 | 22 | 22 | 16 | 16 | 0.0 | 0.0 | ||||||||||
| Costa Rica | BB | 103 | 71 | 37 | (9) | 24 | 6.0 | 0.8 | ||||||||||
| Croatia | BB | 174 | 185 | 51 | 92 | 101 | 4.8 | 5.2 | ||||||||||
| Curacao | A- | (24) | 91 | 42 | (60) | (60) | (2.7) | 0.0 | ||||||||||
| Cyprus | B+ | 175 | 648 | 142 | 77 | 312 | 5.5 | (0.4) | ||||||||||
| Czech Republic | AA- | 51 | 60 | 17 | (12) | 3 | 8.3 | 0.3 | ||||||||||
| Denmark | AAA | (56) | 233 | 28 | 13 | 67 | (2.6) | 2.5 | ||||||||||
| Dominican Republic | B+ | 154 | 91 | 62 | 27 | 60 | 12.8 | 2.1 | ||||||||||
| Ecuador | B+ | 69 | 67 | 46 | 28 | 34 | 4.3 | 2.6 | ||||||||||
| Egypt | B- | 113 | 69 | 60 | 5 | 22 | 8.8 | 0.8 | ||||||||||
| El Salvador | BB- | 148 | 129 | 77 | 71 | 94 | 7.2 | 6.3 | ||||||||||
| Estonia | AA- | 48 | 81 | 9 | (1) | 34 | 3.2 | (0.3) | ||||||||||
| Ethiopia | B | 93 | 113 | 103 | 76 | 79 | 1.5 | 1.3 | ||||||||||
| Fiji | B | 131 | 58 | 36 | (4) | 9 | 4.3 | 0.0 | ||||||||||
| Finland | AA+ | (15) | 482 | 112 | 83 | 205 | (1.2) | 3.4 | ||||||||||
| France | AA | 23 | 571 | 146 | 74 | 220 | (4.2) | (1.0) | ||||||||||
| Gabon | BB- | 65 | 74 | 44 | 12 | 33 | 24.1 | 3.6 | ||||||||||
| Georgia | BB- | 165 | 104 | 40 | 59 | 69 | 2.6 | 1.6 | ||||||||||
| Germany | AAA | (95) | 222 | 76 | (63) | 53 | (3.8) | (1.7) | ||||||||||
| Ghana | B- | 223 | 127 | 86 | 82 | 93 | 15.2 | 1.0 | ||||||||||
| Greece | B | 355 | 657 | 436 | 345 | 462 | 8.0 | 7.4 | ||||||||||
| Guatemala | BB | 56 | 78 | 36 | 5 | 28 | 8.5 | 0.5 | ||||||||||
| Guernsey | AA+ | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||
| Honduras | B | 83 | 55 | 44 | 8 | 20 | 10.5 | 0.0 | ||||||||||
| Hong Kong | AAA | (102) | 125 | 0 | (86) | (50) | (0.8) | (1.7) | ||||||||||
| Hungary | BB | 93 | 94 | 51 | 35 | 48 | 3.2 | 2.1 | ||||||||||
| Iceland | BBB- | 21 | 138 | 58 | 43 | 55 | 2.7 | 3.7 | ||||||||||
| India | BBB- | 53 | 76 | 15 | 11 | 12 | 4.4 | 3.1 | ||||||||||
| Indonesia | BB+ | 228 | 135 | 62 | 59 | 79 | 14.2 | 4.1 | ||||||||||
| Ireland | A | 64 | 492 | 48 | (254) | 252 | 14.7 | (1.1) | ||||||||||
| Israel | A+ | (59) | 71 | 23 | (84) | (20) | 5.6 | 0.3 | ||||||||||
| Italy | BBB- | 45 | 334 | 133 | 125 | 249 | 0.6 | 3.2 | ||||||||||
| Jamaica | B- | 290 | 180 | 137 | 131 | 131 | 3.5 | 7.2 | ||||||||||
| Japan | AA- | (285) | 266 | 86 | (260) | (38) | (15.8) | (7.3) | ||||||||||
| Jersey | AA+ | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||
| Jordan | BB- | 141 | 108 | 53 | 6 | 16 | 1.4 | 2.8 | ||||||||||
| Kazakhstan | BBB+ | 31 | 95 | 9 | (79) | (40) | 26.8 | 3.8 | ||||||||||
| Kenya | B+ | 37 | 140 | 103 | 33 | 70 | 3.4 | 0.4 | ||||||||||
| Korea | A+ | (3) | 49 | 15 | (28) | (18) | (1.2) | (1.2) | ||||||||||
| Kuwait | AA | (432) | 32 | 4 | (374) | (326) | (8.5) | (6.6) | ||||||||||
| Latvia | A- | 97 | 174 | 45 | 37 | 59 | 0.5 | 1.2 | ||||||||||
| Lebanon | B- | 84 | 157 | 31 | (87) | (63) | 1.9 | 1.9 | ||||||||||
| Liechtenstein | AAA | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||
| Lithuania | A- | 51 | 63 | 37 | 24 | 34 | 3.1 | 2.1 | ||||||||||
| Luxembourg | AAA | (31) | 833 | 2 | (323) | 562 | 4.8 | 0.0 | ||||||||||
| Macedonia | BB- | 100 | 96 | 49 | 25 | 41 | 3.2 | 1.5 | ||||||||||
| Malaysia | A- | (2) | 70 | 25 | (19) | 5 | 3.2 | N/A | ||||||||||
| Malta | BBB+ | (12) | 352 | 6 | (99) | (70) | 3.6 | N/A | ||||||||||
| Mexico | BBB+ | 106 | 88 | 61 | 13 | 33 | 6.8 | (6.1) | ||||||||||
| Mongolia | B+ | 388 | 164 | 102 | 109 | 127 | 22.9 | 10.7 | ||||||||||
| Montenegro | B+ | 470 | 238 | 92 | 178 | 178 | (2.1) | 5.8 | ||||||||||
| Montserrat | BBB- | 83 | 60 | 5 | (222) | (222) | 6.6 | (0.8) | ||||||||||
| Morocco | BBB- | 136 | 85 | 64 | 33 | 37 | 4.7 | N/A | ||||||||||
| Mozambique | B | 375 | 169 | 93 | 54 | 103 | 1.4 | 2.3 | ||||||||||
| Netherlands | AA+ | (80) | 313 | 42 | 1 | 172 | (2.3) | 0.4 | ||||||||||
| New Zealand | AA | 200 | 281 | 67 | 145 | 186 | 13.0 | (1.7) | ||||||||||
| Nigeria | BB- | 22 | 47 | 29 | (58) | (19) | 5.2 | (1.5) | ||||||||||
| Norway | AAA | (498) | 395 | 71 | (293) | (28) | (5.0) | (2.5) | ||||||||||
| Oman | A | (74) | 46 | 3 | (93) | (62) | 7.4 | (0.1) | ||||||||||
| Pakistan | B- | 141 | 121 | 111 | 80 | 87 | 7.7 | 2.1 | ||||||||||
| Panama | BBB | 76 | 113 | 46 | (21) | 93 | 10.2 | 1.3 | ||||||||||
| Papua New Guinea | B+ | 452 | 354 | 90 | 283 | 283 | 16.2 | 7.1 | ||||||||||
| Paraguay | BB | 56 | 30 | 23 | (41) | (19) | 8.8 | (0.6) | ||||||||||
| Peru | BBB+ | 115 | 120 | 50 | (58) | (17) | 20.7 | 3.0 | ||||||||||
| Philippines | BBB | 31 | 75 | 40 | (28) | (16) | (7.3) | 1.8 | ||||||||||
| Poland | A- | 155 | 108 | 58 | 54 | 63 | 9.4 | 2.8 | ||||||||||
| Portugal | BB | 233 | 401 | 167 | 183 | 310 | 8.2 | 7.0 | ||||||||||
| Qatar | AA | (159) | 104 | 61 | (117) | (94) | 6.0 | 5.8 | ||||||||||
| Ras Al Khaimah | A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||
| Romania | BBB- | 136 | 113 | 51 | 31 | 51 | 7.2 | 3.4 | ||||||||||
| Russia | BBB- | (28) | 84 | 13 | (67) | (17) | 10.5 | 1.7 | ||||||||||
| Rwanda | B | 80 | 105 | 93 | 30 | 35 | 4.6 | (0.1) | ||||||||||
| Saudi Arabia | AA- | (191) | 15 | 0 | (212) | (210) | (2.8) | (5.3) | ||||||||||
| Senegal | B+ | 84 | 120 | 89 | 42 | 74 | 1.3 | 1.9 | ||||||||||
| Serbia | BB- | 178 | 148 | 85 | 56 | 78 | 9.1 | 5.1 | ||||||||||
| Sharjah | A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||
| Singapore | AAA | (122) | 149 | 0 | (129) | (112) | 2.1 | 0.0 | ||||||||||
| Slovak Republic | A | 64 | 63 | 35 | 13 | 30 | 3.6 | 3.9 | ||||||||||
| Slovenia | A- | 43 | 118 | 56 | 30 | 68 | 2.2 | 1.3 | ||||||||||
| South Africa | BBB- | 28 | 98 | 65 | 16 | 27 | 6.8 | 1.7 | ||||||||||
| Spain | BBB | 238 | 390 | 120 | 209 | 279 | 5.4 | 9.4 | ||||||||||
| Sri Lanka | B+ | 180 | 177 | 121 | 128 | 129 | 9.3 | 2.9 | ||||||||||
| Suriname | BB- | 48 | 66 | 61 | (8) | (6) | 4.8 | 0.6 | ||||||||||
| Sweden | AAA | 21 | 303 | 37 | 84 | 132 | (5.0) | 0.8 | ||||||||||
| Switzerland | AAA | (136) | 207 | 11 | (134) | 36 | (3.2) | (2.3) | ||||||||||
| Taiwan | AA- | (225) | 72 | 1 | (197) | (84) | (3.0) | (4.2) | ||||||||||
| Thailand | BBB+ | 30 | 46 | 8 | (34) | (10) | 4.5 | 5.4 | ||||||||||
| Trinidad and Tobago | A | (62) | 34 | 13 | (136) | (114) | 23.6 | 0.3 | ||||||||||
| Turkey | BB+ | 184 | 190 | 46 | 107 | 121 | 4.8 | 2.6 | ||||||||||
| Turks and Caicos | BBB+ | (67) | 3,785 | 2,029 | (67) | 843 | 0.0 | 0.0 | ||||||||||
| Uganda | B | 183 | 111 | 76 | 41 | 56 | 12.1 | 0.9 | ||||||||||
| Ukraine | CCC | 109 | 174 | 50 | 19 | 151 | 2.3 | 7.0 | ||||||||||
| United Kingdom | AAA | 40 | 1,157 | 63 | 69 | 443 | 4.2 | 4.2 | ||||||||||
| United States | AA+ | 179 | 548 | 231 | 231 | 305 | (10.2) | 2.8 | ||||||||||
| Uruguay | BBB- | 70 | 169 | 117 | (93) | (22) | 13.9 | 4.0 | ||||||||||
| Venezuela | CCC+ | (128) | 120 | 116 | (162) | 82 | 12.1 | 5.1 | ||||||||||
| Vietnam | BB- | 63 | 40 | 27 | 8 | 8 | 4.5 | 0.8 | ||||||||||
| Zambia | B+ | 9 | 74 | 52 | (116) | 36 | 5.9 | 0.6 | ||||||||||
| LT FC--Long-term foreign currency. DC--Depository corporation. N/A--Not available. N.M.--Not meaningful. e--Estimate. f--Forecast. | ||||||||||||||||||
Glossary Of Terms
Economic data
Nominal GDP (bil. US$). Total U.S. dollar market value (converted at current exchange rates) of goods and services produced by resident factors of production.
GDP per capita (US$). Total U.S. dollar market value (converted at current exchange rates) of goods and services produced by resident factors of production, divided by population.
Savings/GDP (%). Investment plus the current account surplus (deficit), as a percent of GDP.
Investment/GDP (%). Expenditure on capital goods including plant, equipment, and housing, plus the change in inventories, as a percent of GDP.
Real GDP (% change). Percent change in constant-price GDP.
Real investment (% change). Percent change in constant-price investment.
Unemployment (% of workforce). Average percent of the labor force not employed and actively searching for work (definitions and coverage vary by country).
Consumer Price Index (% change). Average percent change in index of prices of a representative set of consumer goods bought by a typical household on a regular basis.
Depository corporation claims on resident nongovernment sectors (% change). Claims by depository corporations, other than the central bank, on all residents except the general government. The data do not include claims on nonresidents. Depository corporations are usually financial institutions, other than the central bank, whose liabilities are included in the national definition of broad money.
General government data
General government. Aggregate of the national, regional, and local government sectors, including social security, and excluding intergovernmental transactions.
Net debt/GDP (%). Gross debt minus general government financial assets (cash, deposits, arms-length loans, and minority holdings of traded equities), as a percent of GDP.
Debt net of government deposits/GDP (%). Gross debt minus the most liquid general government financial assets (cash and deposits), as a percent of GDP.
Gross debt/GDP (%). Debt incurred by national, regional, and local governments, either for governmental purposes or for on-lending to a government-owned or private sector entity, as a percent of GDP. Internal holdings, including social security and pension fund investments in government debt, are netted out.
Surplus (deficit)/GDP (%). General government operating and capital revenue, excluding proceeds from privatization, minus operating and capital and extraordinary expenditures (though generally excluding aid to the financial sector), as a percent of GDP.
Primary balance/GDP (%). Surplus (deficit) plus interest payments on general government debt, as a percent of GDP.
Revenue/GDP (%). General government recurrent revenue, from sources such as taxes, fees and charges, interest, and dividends, plus capital revenue (largely grants), as a percent of GDP.
Expenditure/GDP (%). General government recurrent expenditure, for purposes such as salaries, goods for immediate consumption, interest, subsidies, and other transfers, plus capital spending that increases the value of general government physical assets, plus net lending (where a subsidy is involved), as a percent of GDP.
Interest/GDP (%). Interest payments on general government debt, as a percent of GDP.
Balance-of-payments data
Current account receipts (CAR)/GDP (%). CAR, which include proceeds from exports of goods and services, factor income (compensation of employees plus investment income) earned by residents from nonresidents, and official and private transfers to residents from nonresidents, as a percent of GDP.
Real exports (% change). Percent change in the volume of exports of goods and services, as defined in the national income accounts.
Current account balance/GDP (%). Exports of goods and services minus imports of the same plus net factor income plus official and private net transfers, as a percent of GDP.
Current account balance/CAR (%). Exports of goods and services minus imports of the same plus net factor income plus official and private net transfers, as a percent of current account receipts.
Net external borrowing/CAR (%). The current account deficit (surplus) minus net inflows from foreign direct investment (both equity and loans) and portfolio equity investments, as a percent of CAR. A negative number indicates net external debt repayment.
Usable reserves/current account payments (months). Official foreign exchange reserves (including gold at market price) minus items not readily available for foreign exchange operations and repayment of external debt (such as: (1) reserves pledged as security; (2) mark-to market losses on reserves sold forward; (3) reserves deposited with offshore branches of domestic financial institutions; and (4) the monetary base for sovereigns with a currency board or longstanding fixed peg), divided by monthly imports of goods and services, plus factor income earned by nonresidents from residents, plus transfers to nonresidents.
Gross external financing needs (% of CAR plus usable reserves). Current account payments, plus scheduled principal repayments on external debt, plus the stock of short-term debt (original maturity of less than a year), as a percent of CAR plus usable foreign exchange reserves.
Net foreign direct investment (FDI)/GDP (%). Direct investment (both equity and loans) by nonresidents net of residents' direct investment (both equity and loans) abroad, as a percent of GDP.
External balance sheet
Net external liabilities/CAR (%). Total external debt plus the stock of direct investment (both equity and debt) and portfolio equity investment from abroad minus total external assets, which include official reserves, other public sector foreign assets, financial institutions' deposits with and lending to nonresidents, other private sector deposits with and lending to nonresidents, and the stock of direct and portfolio equity investment placed abroad, as a percent of CAR. A negative number indicates a net asset position.
Gross external debt/CAR (%). Stock of borrowings in foreign or local currency from nonresidents (including nonresident deposits in resident banks) by the public and private sectors, as a percent of CAR. Excludes borrowings recorded under direct investment.
Net external debt/CAR (%). Total external debt minus non-equity external assets, which include official foreign exchange reserves, other public sector foreign assets, financial institutions' deposits with and lending to nonresidents, and other private sector deposits with and lending to nonresidents, as a percent of CAR. A negative number indicates net external lending. Excludes debt recorded under direct investment.
Narrow net external debt/CAR (%). The stock of foreign and local currency public and private sector borrowings from nonresidents (including nonresident deposits in resident banks) minus liquid non-equity external assets, which include official foreign exchange reserves, other liquid public sector foreign assets, and financial institutions' deposits with and lending to nonresidents, as a percent of CAR. A negative number indicates net external lending.
Net investment payments/CAR (%). Factor income (largely dividends and interest, but also some employee compensation such as for embassy staffs) paid to nonresidents less factor income received from nonresidents, as a percent of CAR. A negative number indicates net investment receipts.
Net interest payments/CAR (%). Interest paid to nonresidents less interest received from nonresidents, as a percent of CAR. A negative number indicates net interest receipts.
Under Standard & Poor's policies, only a Rating Committee can determine a Credit Rating Action (including a Credit Rating change, affirmation or withdrawal, Rating Outlook change, or CreditWatch action). This commentary and its subject matter have not been the subject of Rating Committee action and should not be interpreted as a change to, or affirmation of, a Credit Rating or Rating Outlook.
| Primary Credit Analyst: | Alexander Petrov, London +44(207)1767115; alexander.petrov@standardandpoors.com |
| Secondary Contacts: | Julia L Smith, Buenos Aires; julia.smith@standardandpoors.com |
| Santiago Cajal, Mexico City; santiago.cajal@standardandpoors.com |
