ISSN 1019-2441 1803 501 (02)2316-5847 103424 http://www.ndc.gov.tw ( ) GDP
2 1803 Abstract East Asia Pacific Economic Update 2014 Fed IMF IMF 2013 3% 2014 3.6%2015 3.9% IMF Developing countries in the East Asia Pacific region will see stable economic growth this year, bolstered by a recovery in high-income economies and the market s modest response so far to the Federal Reserve s tapering of its quantitative easing, according to the East Asia Pacific Economic Update by the World Bank. The global recovery is becoming broader, but the changing external environment poses new challenges to emerging market and developing economies, says the IMF s latest World Economic Outlook. The IMF forecasts global growth to average 3.6% in 2014 - up from 3% in 2013 - and to rise to 3.9% in 2015. Based on IMF 2013 Fiscal Monitor, persistently high debt ratios in most countries continue to cast shadows over the medium term. Against this background, the top priority remains the design and implementation of credible medium-term consolidation plans to lower debt ratios to safer levels, while carefully balancing equity and efficiency goals. While economic growth remains vital for reducing poverty, growth has its limits, according to a new World Bank paper. Countries need to complement efforts to enhance growth with policies that allocate more resources to the extreme poor.
1803 3 5 IEA 2014 12 1. 94 5. WB2014 112 IMF 2. 98 2014 10 6. 118 CBO 2014 2014 3. 105 IMF WB UN 4. 108 7. 121 3
4 1803 8. 125 70 EPA 9. 130 PPI 10. 137 2015 11. 149 150 151
1803 5 2009 4 1994 2008 4 2.82 4 GDP 1995 1994 2004 2008 2000 2010 1 2011 2012
6 1803 1 2014 2009 2000 20102011 2000 2012 2916 2013 3500 2014 4000, 500 2010 107,174.91 67,109.51 23,369.74 16,695.66 20138 20131230 20136 206,988.65 2012 8.6% 20 98,129.48 47.4% 108,859.17 52.6% 26,655.77 43,393.72 178,908.66
1803 7 1 2010 (%) 20136 (%) (%) 67,109.51 62.62 108,859.17 60.85 24.88 23,369.74 21.81 26,655.77 14.90 5.62 16,695.66 15.58 43,393.72 24.25 63.96 107,174.91 100.00 178,908.66 100.00 26.77 /% 2 % 22.78 4.94 11.24 38.96 17.28 5.41 0.00 22.69 9.93 0.58 2.88 13.39 6.46 3.22 7.85 17.53 1.94 0.21 1.22 3.37 1.77 0.46 0.00 2.23 0.69 0.08 1.06 1.83 1 3 % 50.76 71.57 61.87 56.55 BT( - ) 11.16 1.74 4.96 8.25 10.71 6.28 11.81 10.32 7.15 0.34 1.62 4.79 7.00 9.52 9.46 7.97 6.14 2.07 2.67 4.69 3.00 0.05 1.10 2.10 1.84 1.16 2.43 1.88 1.22 6.40 0.00 1.70 0.69 0.72 3.17 1.30 0.34 0.14 0.91 0.45 1
8 1803 4 /% 20137~12 24,949.06 22.92 2,472.69 5,522.67 2014 23,826.39 21.89 4,373.05 7,481.69 2015 18,577.91 17.07 3,198.42 5,994.78 2016 12,608.53 11.58 2,606.26 4,206.51 2017 8,477.55 7.79 2,298.60 3,519.02 201820,419.73 18.76 11,706.75 16,669.05 108,859.17 100.00 26,655.77 43,393.72 2 70% 26.77% GDP 2013 43,604.42 24.37% 56.56% 86.77% 20137 2015 61.88% 1. 2013 GDP 568,845 31.45%
1803 9 10% 2. 20136 678,986.08 14.9% 2010 3. 20136 20137 12 2014 2013 2014 1,000 4. ( ),
10 1803 5. 2012 11 316 1,396 34,865.24 93,642.66 37.23% 25% 6. 2012 3 99 195 3,465 100% 2 31 29 148 2012 20% 2013 6 19,422.48 4,433.86 7. 1994 1995
1803 11 2009 ( ) 20126 201110 GDP IMF GDP35% IMF IMF Hoe Ee Khor 20072008 1 2014 1http://finance.qq.com/a/20140412/009473.htm
12 1803 2014 2015 3.2% 3.7% Global Insight Inc. 2014 4 2014 3.2%2015 3.7% 2013 3.2% 2014 2.7% 2013 12% 2014 1.1% 20144 5% 8% 1 4.4% 4.0% 200810 2 2014 1.4% 2014 1.7% Fed 20141 100 650 20159 ECB 0.25%
1803 13 30 3 1 1.385 2014 1 1.30 2014 1 105.55 2014 1 6.11 2014 104 2015 99 2014 2015 2.7% 3.3% 2013 3.2% 3.0% 20132.6% 5.0% 2014 2.7%2015 3.3% 6.5% 6.6% 2015 2014 2014 2015 1.1%1.5% 2011 2013 2013 0.5% 0.4%0.3% 0.3%0.1%
14 1803 2014 1.1%2015 1.5% 201310 0.7% 47 201312 20141 0.8% 2014 1.1%2015 1.4% 201311 0.25% 2015 30 1 1.39 2014 1 1.30 2014 2015 1.4% 1.4% 4 2014 2015 1.4% 201212 20134 2016 2012101 79 201312 1 104 2014 1 105.55 20
1803 15 4 2.0% 2014 2.9% ( ) 2014 2015 6.1%6.6% 2014 2014 6.1%2015 6.6% ASEAN 11.6% 2014 7.8% 2014 3.3% 20134 6 7 9 5.6% 2014 5.4% 2014 8.5% 2014 2015 2.7% 3.3%
16 1803 21 2014 2014 2.7%2015 3.3% 10 2015 3.3% 2014 2.3% 2014 3.3%2015 3.9% 2014 2015 3.1%4.3% 2014 3.1% 2015 4.3% 2014 4.4% 2,700 2014 3.1% 2013 2014 3.3% 2014 2015 5.7% 5.8% 2009 / 2014 5.7%2015 5.8% 2014 2.8%
1803 17 6.8% 6.2% 45 3.2 30 20075 4 4,750 31.6 3 19.2 6.7%3 2 2.8% 94.6 3 0.7% 2 1.2% 3 0.7% 3 2 0.5% 1.5% 1.0% 3 0.7% 0.2% 0.9% -0.4% -0.3% +2.0% +2.5% +0.3% 0.5% -1.2% +1.0% +0.0% +0.7% +0.2% +0.6% +0.9% +0.3% +60% +0.5% 76.7% 2.0 +0.4% 76.3% 0.7 NAIC +0.5% 1.5% 89.1% 1.7 1.0% 85.0% 1.1 3 78.1% 1.7 76.7% 0.4
18 1803 3 6.7% 3 1.56 63.2% 1.46 4.76 58.9% 1,048.6 6.7% 33.1 9,103.0 3 19.2 6.7% 3 6.2% 6.2% 20.9% 5.8% 12.4% 7.9% 5.4% 3 27 373.9 11.0 35.7% 22.5 741.1 216.8 69.8 4 12 3 / +16.7 +0.7 +2.1 +0.8 +0.2 +0.1 +5.7 +3.4 +2.9 +0.6 +2.5 +0.7 +1.9-0.1 3 34.5 0.3 41.1 / -1 24.3 / +49 2.1% 3 CPI-U 0.2% 3 CPI- U 0.2% 12 1.5%3 CPI-U 0.2% 0.4% 0.1% 1.7% 2.9% 2.0% 7.5% 1.1% 2.6% -2.0% -1.7% -2.9%
1803 19 +2.6% +1.1% +7.5% +0.0% +0.4% +0.3% -0.3% +0.3% +0.3% +0.2% +0.3% CPI-U 1.5% +1.7% +0.4% -4.0% -4.7% +2.1% +7.8% +5.33% +16.4% CPI-U+1.7% CPI-U-0.3% +0.2% +0.1% +0.5% +1.3% +2.3% +2.7% +1.4% +2.4% CPI-W 1.4% 232.5601982~84=100 0.4% 2 423.0 2 1,904.3 2,327.3 423.0 30.2 2 20.3 1,317.2 2 1,934.5 617.3 22.3 587.2 0.2 392.9 8 194.3 7.9 2 / -27-9 +12 +6 +1 / -12-3 -1 +10 +1 +1 / +1 +1-2 / +8 +1-1 2 10 243 24 276 32
20 1803 * 1 2 3 4 5WTO 2-1 % * * * (+) GDP (-) ( ) ( ) * * 2003 2.8 1.2 6.0 3.2 2.3 2.00 4.00 7,298.2 4.6 12,702.3 8.4-5,404.1 2004 3.8 2.3 5.5 3.6 2.7 3.25 5.25 8,219.9 12.6 14,854.9 16.9-6,635.0 2005 3.4 3.2 5.1 4.9 3.4 5.25 7.25 9,116.9 10.9 16,924.2 13.9-7,807.3 2006 2.7 2.2 4.6 2.9 3.2 6.25 8.25 10,259.7 12.5 19,194.3 13.4-8,934.6 2007 1.8 2.5 4.6 3.9 2.9 4.75 7.25 11,482.0 11.9 20,204.0 5.3-8,722.1 2008-0.3-3.4 5.8 6.4 3.8 0.50 3.25 12,874.4 12.1 21,694.9 7.4-8,820.4 2009-2.8-11.3 9.3-2.6-0.3 0.50 3.25 10,560.4-18.0 16,053.0-26.0-5,492.5 2010 2.5 5.7 9.6 4.2 1.6 0.75 3.25 12,784.9 21.1 19,691.8 22.7-6,906.9 2011 1.8 3.3 8.9 6.0 3.1 0.75 3.25 14,802.9 15.8 22,658.9 15.1-7,856.0 2012 2.8 3.8 8.1 1.9 2.1 0.75 3.25 15,457.1 4.4 23,355.4 3.1-7,898.3 2013 1.9 2.9 7.4 1.2 1.5 0.75 3.25 15,789.7 2.2 23,313.7-0.2-7,524.0 2012 5 4.6 8.2 0.8 1.8 0.75 3.25 1,313.4 5.9 2,036.0 5.0-722.6 6 4.4 8.2 0.8 1.7 0.75 3.25 1,325.5 7.7 1,969.4 0.2-644.0 7 4.3 8.2 0.6 1.4 0.75 3.25 1,214.1 1.0 1,979.9 3.0-765.7 8 3.1 3.2 8.1 2.0 1.7 0.75 3.25 1,285.9 1.5 1,999.8-0.7-713.9 9 3.3 7.8 2.0 1.9 0.75 3.25 1,282.0 0.9 1,904.7-2.1-622.7 10 2.7 7.8 2.3 2.2 0.75 3.25 1,336.0 1.9 2,039.4 3.6-703.4 11 2.0 3.6 7.8 1.4 1.8 0.75 3.25 1,301.8 3.6 1,994.7 2.2-692.9 12 3.3 7.9 1.4 1.8 0.75 3.25 1,307.6 3.0 1,817.6-3.9-510.0 2013 1 2.5 7.9 1.5 1.6 0.75 3.25 1,233.9 4.7 1,904.0 1.1-670.1 2 1.3 2.8 7.7 1.8 2.0 0.75 3.25 1,236.1 0.0 1,750.1-0.7-514.0 3 3.6 7.5 1.1 1.5 0.75 3.25 1,364.1-2.7 1,866.4-7.7-502.2 4 2.6 7.5 0.6 1.1 0.75 3.25 1,297.3 1.8 1,961.5 0.9-664.2 5 1.6 2.4 7.5 1.8 1.4 0.75 3.25 1,330.0 1.3 2,020.3-0.8-690.3 6 2.5 7.5 2.3 1.8 0.75 3.25 1,348.2 1.7 1,900.5-3.5-552.3 7 1.7 7.3 2.1 2.0 0.75 3.25 1,276.1 5.1 2,032.2 2.6-756.1 8 2.0 3.0 7.2 1.2 1.5 0.75 3.25 1,323.3 2.9 1,989.4-0.5-666.2 9 3.4 7.2 0.2 1.1 0.75 3.25 1,286.7 0.4 1,972.7 3.6-686.0 10 3.6 7.2 0.2 0.9 0.75 3.25 1,418.4 6.2 2,107.2 3.3-688.8 11 2.6 3.2 7.0 0.8 1.2 0.75 3.25 1,366.4 5.0 1,937.9-2.8-571.5 12 3.2 6.7 1.3 1.5 0.75 3.25 1,309.3 0.1 1,871.6 3.0-562.3 2014 1 2.9 6.6 1.5 1.6 0.75 3.25 1,275.1 3.3 1,899.4-0.2-624.4 2 3.5 6.7 1.3 1.1 0.75 3.25 1,239.6 0.3 1,750.4 0.0-510.9 3 3.8 6.7 1.7 1.5 0.75 3.25
1803 21 2 +29 +14 +13 +12-209 -91-57 -53-45 -40-32 -19-19 -18-17 -10 4 4 4 15 4 2012 417 4 3 37.5 1.0 20118 4 1997 1998
22 1803 201410 201510 8%10% 2013 2014 201510 2 6.9% 2 97.5 6.9% 101.5 2.3% 3 2 97.8 6.0% 103.9 1.0% 6 2 107.3 3.2% 103.8 0.8% 7 3 0.9% 4 3 0.6% 2 2.5% 22 266,610 2.5% 13.4% 11.8% 9.2% 4.1% 1.5% 0.3% 25.4% 10.2% 7.8% 2 479,268 1.3% 7.1% 2.6% 2 294,509 3.2%
1803 23 2-2 % * * * (+) GDP (-) ( ) ( ) * * 2003 1.7 5.2-0.9-0.2 0.10 1.38 4,718.2 13.2 3,933.0 16.5 785.2 2004 2.4 4.7 1.3 0.0 0.10 1.38 5,656.7 19.9 4,551.9 15.7 1,104.8 2005 1.3 1.4 4.4 1.6-0.3 0.10 1.38 5,948.6 5.2 5,158.1 13.3 790.5 2006 1.7 4.5 4.1 2.2 0.2 0.40 1.63 6,467.4 8.7 5,790.4 12.3 676.9 2007 2.2 2.8 3.8 1.8 0.1 0.75 1.88 7,142.1 10.4 6,221.4 7.4 920.8 2008-1.0-3.4 4.0 4.6 1.4 0.30 1.68 7,820.5 9.5 7,625.9 22.6 194.6 2009-5.5-21.8 5.1-5.3-1.3 0.30 1.48 5,807.2-25.7 5,519.6-27.6 287.6 2010 4.7 15.6 5.1-0.1-0.7 0.30 1.48 7,697.7 32.6 6,940.5 25.7 757.2 2011-0.5-2.8 4.6 1.5-0.3 0.30 1.48 8,225.6 6.9 8,550.0 23.2-324.3 2012 1.4 0.6 4.3-0.9 0.0 0.30 1.48 7,986.2-2.9 8,860.4 3.6-874.2 2013 1.5-0.8 4.0 1.3 0.4 0.30 1.48 7,146.1-10.5 8,323.4-6.1-1,177.3 2012 5 7.6 4.4-0.9 0.2 0.30 1.48 656.9 12.2 770.8 11.5-113.9 6-0.6 4.3-1.5-0.1 0.30 1.48 711.3-0.8 704.2-0.7 7.1 7 0.1 4.4-2.2-0.4 0.30 1.48 672.6-7.6 739.5 2.8-66.9 8-0.2-4.1 4.2-2.0-0.5 0.30 1.48 641.3-7.5 738.9-7.0-97.7 9-7.6 4.3-1.5-0.3 0.30 1.48 685.4-11.8 758.1 2.5-72.7 10-4.7 4.1-1.1-0.4 0.30 1.48 651.9-9.1 722.3-4.2-70.4 11-0.3-5.5 4.1-1.1-0.2 0.30 1.48 616.8-7.9 735.2-3.1-118.5 12-7.6 4.3-0.7-0.1 0.30 1.48 634.0-12.2 711.2-5.1-77.3 2013 1-6.4 4.2-0.4-0.3 0.30 1.48 538.2-8.2 721.4-7.5-183.2 2 0.0-10.0 4.3-0.1-0.6 0.30 1.48 567.1-18.3 650.1-5.9-83.0 3-7.0 4.1-0.5-0.9 0.30 1.48 661.5-12.1 699.2-8.3-37.7 4-3.2 4.1 0.1-0.7 0.30 1.48 591.2-13.4 681.0-8.8-89.8 5 1.2-1.0 4.1 0.6-0.3 0.30 1.48 570.3-13.2 668.4-13.3-98.1 6-4.7 3.9 1.2 0.2 0.30 1.48 622.5-12.5 641.0-9.0-18.5 7 1.9 3.9 2.2 0.7 0.30 1.48 597.3-11.2 700.8-5.2-103.5 8 2.3-0.6 4.1 2.3 0.9 0.30 1.48 590.8-7.9 690.0-6.6-99.3 9 5.3 4.0 2.2 1.0 0.30 1.48 601.4-12.3 696.4-8.1-95.0 10 5.4 4.0 2.5 1.1 0.30 1.48 623.9-4.3 736.4 1.9-112.5 11 2.6 4.8 3.9 2.6 1.6 0.30 1.48 591.1-4.2 721.5-1.9-130.4 12 7.2 3.7 2.5 1.6 0.30 1.48 590.8-6.8 717.2 0.8-126.4 2014 1 10.6 3.7 2.4 1.4 0.30 1.48 505.4-6.1 774.3 7.3-268.9 2 7.0 3.6 1.8 1.5 0.30 1.48 567.7 0.1 646.3-0.6-78.6 3 1.7 0.30 1.48 623.7-5.7 765.0 9.4-141.3 * 1 2 3 4 3 4WTO
24 1803 2 3.6% 2 3.6% 0.1 3.7% 0.2 3.3% 0.2 2 232 44 140 31 92 14 90 10 49 17 2 6,283 41 14 1,058 1,034 770 23 2 56.7% 0.4 2 1.3% 2 100.72010=100 1.5% 100.5 1.3% 98.3 0.8% 7.8% 5.8% 2.1% 1.3% 1.3% 1.6% 0.7% 0.5% 0.3% 10 2 9.8% 2 58,000 9.8% 12 76.1% 4.0% 17.6% 2 66,003 9.0% 16 11.4% 41.1% 81.1% 2 8,003 3.5% 20 2 102.83 1 12.4%2 49.5% 2 1636 5.6% 14 10.7% 20.3%
1803 25 19.7% 2 5,799 20.8% 11 3,293 36.5% 27.9% 2 4,837 8.3% 14 2 6,095 13.9% 9 47.5% 29.2% 2 6,469 15.4% 17 109.2% 25.3% 2 373 46.7% 14 2 31,021 12.5% 12 74.0% 27.7% 24.4% 2 27,495 7.7% 18 47.8% 19.2% 16.7% 2 3,525 72.8% 2 2 1749 27.7% 11 138.2% 40.2% 30.7% 2 11,856 5.7% 14 85.0% 16.2% 17.3% 2 1,108 60.4% 24 1. GDP 2013 17 2012 0.5% 28 1.1% 20142 0.2%0.4% 28 22.9% 539.2 1 4.5
26 1803 2013 17 0.5% 28 1.1% 2 18 28 0.2%0.4% 2 18 28 11.9%10.6% 2 18 28 0.7%0.8% 2 136 44 63.3% 341.5 1 3.8 28 0.7%0.8% 2 136 44 GDP 2013 4 17 2012 0.5% 28 1.1% 17 28 0.3% 0.8% 0.4%0.8% 0.1% 1.2% 2.6% 2.8% 1.9%2.0% 2 0.2% 0.4% 0.6% 0.5% 0.0%0.2% 1.7%1.4% 1.2%0.7% 0.5%0.9% 5.4% 5.0% 2.5% -2.8% -2.2% -1.3% 20142 28 11.9% 10.6%2 28 2,592.0 1 6.5 73.2% 1,896.5 1 3.5 28 22.9% 539.2 1 4.5 63.3% 341.5 1 3.8 20142 0.7%0.8% +3.4% 3.8% +1.3% 1.1% +1.0% +1.2% +0.8% +1.0% -0.5% -0.6% -2.4% -1.9% +0.4% +2.9% +1.5% +1.6% 20142 136 3.0% 1,533 1,397 28 20142 44 2013
1803 27 1.0% 1,356 2.0% 1,313 1 2013 1.4% 2013 1.4% 0.4%2013 0.4% 1.0% 18 3.3% 0.4% 4.1% 2.7% 0.9 2 5.3% 20142 2013 5.3% 2 7.4% 5.7% 4.3% 0.3% 6.2% 3.6% 6.1% 2 5.1% 20142 217 1 2 5.1% 25 7.7% 5.4% 4.7% 4,065.0 0.1% 6 1.2% 48 3 1.0% 20143 2013 1.0% +2.0% +3.8% +0.9 +0.6% +1.6% -0.2% -1.4% +1.6% -2.7% +2.1% +1.7% 2 7.9% 20142 2,300.4 7.9% 1,262.8 2013 7.2% 1,037.6 8.7% 225.3 2 2013 2.7% 2013 2.7% 3 0.1 1.8% 1.9% 2.5% GDP
28 1803 2-3-1 % * * (+) GDP (-) ( ) ( ) * * 2003-0.4 0.5 9.8 0.6 1.0 2.00 2.13 7,593.5 22.5 6,107.9 23.7 1,485.6 2004 1.2 4.3 10.5 2.9 1.7 2.00 2.17 9,120.3 20.1 7,180.6 17.6 1,939.7 2005 0.7 3.1 11.3 3.0 1.5 2.25 2.41 9,718.0 6.6 7,756.1 8.0 1,961.9 2006 3.7 5.3 10.2 3.5 1.6 3.50 3.64 11,088.9 14.1 9,074.5 17.0 2,014.5 2007 3.3 5.8 8.7 3.5 2.3 4.00 4.71 13,221.9 19.2 10,558.5 16.4 2,663.4 2008 1.1 0.6 7.5 5.4 2.6 2.50 2.99 14,492.7 9.6 11,857.6 12.3 2,635.1 2009-5.1-16.4 7.8-6.9 0.3 1.00 0.48 11,206.1-22.7 9,258.0-21.9 1,948.1 2010 4.0 11.2 7.1-4.8 1.1 1.00 0.81 12,584.0 12.3 10,542.0 13.9 2,042.0 2011 3.3 7.0 6.0 5.8 2.1 1.00 1.14 14,740.4 17.1 12,550.1 19.0 2,190.3 2012 0.7-0.8 5.5 2.1 2.0 0.75 0.11 14,056.6-4.6 11,639.4-7.3 2,417.1 2013 0.4-0.3 5.3-0.6 1.5 0.25 0.21 14,526.0 3.3 11,887.9 2.1 2,638.1 2012 5-6.0 5.5 1.6 2.0 1.00 0.39 1,182.6-10.6 983.7-11.5 198.9 6 4.1 5.5 1.0 1.7 1.00 0.38 1,177.1-6.9 954.6-11.6 222.4 7 2.0 5.4 1.3 1.9 0.75 0.22 1,144.3-6.1 935.3-12.5 208.9 8 0.9-0.5 5.4 2.2 2.2 0.75 0.13 1,115.1-8.6 909.6-13.6 205.5 9-6.5 5.4 3.0 2.0 0.75 0.12 1,172.8-10.1 957.3-10.4 215.6 10 3.8 5.4 3.1 2.0 0.75 0.11 1,275.9 4.8 1,069.3 0.0 206.6 11 0.3-2.8 5.4 2.2 1.9 0.75 0.11 1,200.4-5.7 984.8-6.7 215.6 12-8.7 5.4 2.2 2.0 0.75 0.11 1,029.8-7.7 873.6-8.2 156.3 2013 1-1.1 5.4 1.4 1.7 0.75 0.11 1,171.2 5.6 990.0 5.7 181.2 2-0.3-5.7 5.4 0.6 1.5 0.75 0.12 1,178.5-2.1 954.1-4.8 224.4 3-7.8 5.4-0.1 1.4 0.75 0.12 1,220.9-6.1 975.9-9.2 245.1 4 7.1 5.4-0.7 1.2 0.75 0.12 1,224.0 6.9 988.9 3.2 235.1 5 0.5-4.5 5.3-0.6 1.5 0.50 0.11 1,145.1-3.2 967.5-1.6 177.6 6-0.4 5.3 0.1 1.8 0.50 0.12 1,217.6 3.4 992.6 4.0 225.0 7 1.6 5.3-0.1 1.9 0.50 0.13 1,217.8 6.4 1,003.8 7.3 214.0 8 0.6-2.8 5.3-1.1 1.5 0.50 0.13 1,131.7 1.5 953.6 4.8 178.1 9 4.2 5.3-1.6 1.4 0.50 0.13 1,263.1 7.7 990.7 3.5 272.4 10 1.3 5.2-1.8 1.2 0.50 0.13 1,352.8 6.0 1,106.7 3.5 246.2 11 1.4 0.8 5.2-1.6 1.3 0.25 0.13 1,277.5 6.4 1,030.6 4.7 246.9 12 5.4 5.2-1.3 1.4 0.25 0.21 1,125.8 9.3 933.6 6.9 192.3 2014 1 2.9 5.1-1.7 1.3 0.25 0.22 1,235.8 5.5 1,027.6 3.8 208.2 2 5.3 5.1-1.8 1.2 0.25 0.22 1,262.8 7.2 1,037.6 8.7 225.3 3-1.7 1.0 0.25 0.23 * 1 19991 Main refinancing operations Minimum bid rate 2 19991 Prime rate 1 2 3 5WTO
1803 29 2-3-2 % * * (+) GDP (-) ( ) ( ) * * 2003 3.9-0.6 5.0 0.7 1.4 3.75 3.50 3,076.6 10.0 3,873.5 10.2-796.9 2004 3.2 0.7 4.7 1.0 1.3 4.75 5.00 3,497.5 13.7 4,612.7 19.1-1,115.2 2005 3.2-0.8 4.8 1.9 2.1 4.50 5.00 3,845.1 9.9 5,091.8 10.4-1,246.7 2006 2.8 0.3 5.4 2.0 2.3 5.00 5.50 4,501.7 17.1 6,119.0 20.2-1,617.3 2007 3.4 0.4 5.3 2.3 2.3 5.50 6.50 4,420.6-1.8 6,387.3 4.4-1,966.6 2008-0.8-2.9 5.6 6.8 3.6 2.00 5.50 4,729.2 7.0 6,599.2 3.3-1,870.0 2009-5.2-9.5 7.6 0.5 2.2 0.50 1.00 3,556.7-24.8 5,194.8-21.3-1,638.1 2010 1.7 2.8 7.8 2.7 3.3 0.50 1.00 4,156.0 16.9 5,902.2 13.6-1,746.2 2011 1.1-1.2 8.0 4.7 4.5 0.50 1.00 5,056.5 21.7 6,766.7 14.6-1,710.2 2012 0.3-2.4 7.9 2.1 2.8 0.50 1.00 4,729.4-6.5 6,244.7-7.7-1,515.3 2013 1.7-0.3 7.5 1.3 2.6 0.50 1.00 5,414.8 14.5 6,545.3 4.8-1,130.6 2012 5-1.3 7.9 2.0 2.8 0.50 1.50 425.7 0.4 549.0-4.6-123.3 6-4.0 7.9 1.4 2.4 0.50 1.50 380.2-5.5 537.7-6.6-157.6 7-0.7 7.8 1.3 2.6 0.50 1.00 398.3-2.9 543.8-7.1-145.6 8 0.3-0.8 7.7 1.7 2.5 0.50 1.00 369.7-2.0 577.4 2.1-207.7 9-3.7 7.8 1.8 2.2 0.50 1.00 384.8-12.4 655.0 10.6-270.2 10-3.8 7.7 1.9 2.6 0.50 1.00 407.2-17.1 648.0 10.3-240.8 11 0.2-3.0 7.7 1.5 2.6 0.50 1.00 401.5-8.0 579.4-5.4-177.9 12-3.0 7.7 1.4 2.7 0.50 1.00 376.5-6.8 535.7 1.1-159.2 2013 1-3.2 7.9 1.6 2.7 0.50 1.00 421.7 9.0 542.3-0.6-120.6 2 0.5-2.3 7.7 1.7 2.8 0.50 1.00 407.8 3.9 515.3-7.8-107.5 3-1.8 7.7 1.5 2.8 0.50 1.00 469.3 7.1 548.6-10.4-79.3 4-1.3 7.7 1.0 2.4 0.50 1.00 454.8 23.6 525.0-7.2-70.2 5 1.7-2.3 7.7 1.2 2.7 0.50 1.00 556.1 30.6 521.6-5.0 34.5 6 1.5 7.7 1.7 2.9 0.50 1.00 471.5 24.0 542.5 0.9-71.0 7-1.3 7.7 1.8 2.7 0.50 1.00 468.0 17.5 544.6 0.1-76.7 8 1.8-1.6 7.6 1.5 2.7 0.50 1.00 416.0 12.5 511.1-11.5-95.1 9 1.9 7.4 1.2 2.7 0.50 1.00 433.6 12.7 577.2-11.9-143.6 10 2.9 7.1 0.8 2.2 0.50 1.00 458.5 12.6 605.0-6.6-146.5 11 2.7 2.0 7.1 0.8 2.1 0.50 1.00 425.2 5.9 596.5 3.0-171.4 12 1.9 7.1 1.0 2.0 0.50 1.00 432.3 14.8 515.5-3.8-83.3 2014 1 2.7 0.9 1.8 0.50 1.00 437.9 3.8 568.2 4.8-130.3 2 2.7 0.6 1.8 0.50 1.00 425.7 4.4 528.0 2.5-102.2 3 0.5 1.7 0.50 1.00 * Bank Rate 1 2 3 4WTO
30 1803 GDP 3.4% 5.6% 2011 2.2% 1.8% 2.4% 2 2.7% 20142 2.7% 3.8% 3.4% 3.8% 5.5% 1.6% 5.3% 12 2 6.9% 20131220142 6.9% 9 11 7.1% 8.3% 224.3 7.2% 6.5% 19.1% 88.1 3 1.6% 20143 2013 1.6% 10.3% 5.0% 3.4% 3.1% 2.6% 2.3% 1.7% 1.1% 0.9% 0.6% 0.2% 1.0% 2 3.3% 20142 953.7 2013 3.3% 425.7 2013 4.4% 528.0 2.5% 102.3 3 2013 0.3% INSEE 2013 0.3% 0.3% 0.4% 2011 0.5% 1.3% 0.7% GDP 0.2 2 0.1% INSEE 20142 0.1% 5.2% 1.1% 7.0%
1803 31 2-3-3 % * * (+) GDP (-) ( ) ( ) * * 2003 0.9-1.2 8.6 2.1 2.00 2.13 3,761.3 18.2 3,753.5 19.3 7.8 2004 2.5 1.1 8.9 2.1 2.00 2.17 4,263.3 13.3 4,339.2 15.6-75.9 2005 1.8 0.2 8.9 1.7 2.25 2.41 4,435.9 4.0 4,738.0 9.2-302.1 2006 2.5 1.0 8.8 3.2 1.7 3.50 3.64 4,957.4 11.8 5,418.1 14.4-460.8 2007 2.3 1.0 8.0 2.1 1.5 4.00 4.71 5,598.5 12.9 6,315.3 16.6-716.8 2008-0.1-3.2 7.5 4.6 2.8 2.50 2.99 6,173.7 10.3 7,179.2 13.7-1,005.4 2009-3.1-13.9 9.1-4.7 0.1 1.00 0.48 4,852.2-21.4 5,634.8-21.5-782.6 2010 1.7 4.8 9.3 2.5 1.5 1.00 0.81 5,236.4 7.9 6,109.1 8.4-872.7 2011 2.0 2.3 9.2 4.6 2.1 1.00 1.14 5,963.0 13.9 7,198.9 17.8-1,235.9 2012 0.0-2.6 9.8 2.3 2.0 0.75 0.11 5,691.6-4.6 6,750.2-6.2-1,058.5 2013 0.2-0.5 10.3 0.0 0.9 0.3 0.2 5,795.8 1.8 6,809.5 0.9-1,013.7 2012 5-4.2 9.7 1.9 2.0 1.00 0.39 467.2-13.2 560.3-14.7-93.1 6-3.3 9.7 1.5 1.9 1.00 0.38 487.0-7.0 578.5-7.5-91.5 7-2.5 9.7 1.5 1.9 0.75 0.22 470.3-4.2 539.0-7.8-68.7 8 0.0-1.0 9.8 2.5 2.1 0.75 0.13 396.3-9.5 485.2-10.5-88.8 9-2.0 9.9 2.4 1.9 0.75 0.12 468.1-7.9 547.0-11.8-78.8 10-2.8 10.1 2.3 1.9 0.75 0.11 524.0 5.3 610.0 1.7-86.0 11-0.3-4.5 10.2 1.8 1.4 0.75 0.11 497.9-3.8 572.0-5.7-74.1 12-2.0 10.3 1.6 1.3 0.75 0.11 433.4-7.4 514.9-4.8-81.5 2013 1-2.7 10.4 1.5 1.2 0.75 0.11 471.6 3.7 578.8 3.5-107.2 2-0.4-1.2 10.3 1.3 1.0 0.75 0.12 470.9-3.7 568.7-4.6-97.7 3-1.2 10.4 1.2 1.0 0.75 0.12 502.7-6.5 564.0-9.1-61.2 4 0.3 10.3 0.2 0.7 0.75 0.12 504.8 8.4 578.1 1.8-73.4 5 0.5 1.0 10.3-0.4 0.8 0.50 0.11 460.1-1.5 552.7-1.4-92.6 6 0.3 10.3-0.2 0.9 0.50 0.12 487.5 0.1 558.0-3.5-70.5 7-1.3 10.3 0.1 1.1 0.50 0.13 508.5 8.1 589.2 9.3-80.8 8 0.3-2.1 10.2-0.8 0.9 0.50 0.13 392.0-1.1 468.3-3.5-76.2 9-0.7 10.3-0.7 0.9 0.50 0.13 480.7 2.7 580.6 6.2-100.0 10-0.2 10.2-1.3 0.6 0.50 0.13 553.0 5.5 633.1 3.8-80.1 11 0.8 1.6 10.2-0.7 0.7 0.25 0.13 489.2-1.8 577.2 0.9-88.0 12 0.4 10.2-0.3 0.7 0.25 0.21 474.9 9.6 560.9 8.9-86.0 2014 1 0.2 10.3-1.3 0.7 0.25 0.22 481.0 2.0 593.10 2.5-112.1 2-0.8 10.4-1.8 0.9 0.25 0.22 486.5 3.3 556.20-2.2-69.7 3 0.6 0.25 0.23 * 1 19991 Main refinancing operations Minimum bid rate 2 19991 Prime rate 1 2INSEE 3WTO
32 1803 0.7% 1.0% 6.7% 0.8% 3.9% 2 10.9% 2014 2 10.9% 305.1 1 2.0 24.1% 66.2 1 1,000 11.0% 10.8% 3 0.6% 20143 2013 0.6% 20143 7.0% 0.6% 6.0% 3.3% 3.0% 1.6% 0.8% 0.6% 0.2% 1.8% 2.3% 1.5% 1.2% 0.2% 2 0.3% 20142 1,042.7 2013 0.3% 486.5 2013 3.3% 556.2 2.2% 69.7 4 2013 0.9% 2013 0.9% 0.1 1.9% 2012 2.4% 1.0% 1.1% 2.4% 0.1% 4.7% 2.2% 2.8% GDP 2 0.4% 20142 2013 0.4% 0.5% 2.8% 2.7% 2.8% 2 13.9% 20142 13.9% 330.7 1 8,000
1803 33 2-3-4 % * * (+) GDP (-) ( ) ( ) * * 2003 0.0-0.6 8.5 2.7 2.00 2.13 2,979.0 17.8 2,947.1 20.6 31.9 2004 1.7-0.2 8.0 2.2 2.00 2.17 3,545.9 19.0 3,563.7 20.9-17.8 2005 0.9-0.6 7.7 2.0 2.25 2.41 3,706.4 4.5 3,824.0 7.3-117.6 2006 2.2 3.7 6.8 5.2 2.1 3.50 3.64 4,172.2 12.6 4,426.0 15.7-253.8 2007 1.7 1.9 6.1 3.3 1.8 4.00 4.71 5,002.4 19.9 5,118.7 15.7-116.3 2008-1.2-3.8 6.8 5.8 3.4 2.50 2.99 5,446.3 8.9 5,631.1 10.0-184.7 2009-5.5-18.6 7.8-5.4 0.8 1.00 0.48 4,068.3-25.3 4,148.6-26.3-80.4 2010 1.7 7.0 8.4 3.1 1.5 1.00 0.81 4,468.9 9.8 4,869.3 17.4-400.4 2011 0.4 1.2 8.4 5.1 2.7 1.00 1.14 5,234.0 17.1 5,589.4 14.8-355.3 2012-2.4-6.3 10.7 4.1 3.0 0.75 0.11 5,015.5-4.2 4,891.1-12.5 124.4 2013-1.9-3.1 12.2-1.2 1.2 0.25 0.21 5,176.0 3.2 4,772.9-2.4 403.1 2012 5-5.8 10.4 4.4 3.2 1.00 0.39 450.6-6.4 439.9-14.5 10.7 6-6.6 10.8 4.2 3.3 1.00 0.38 430.8-8.3 397.2-19.9 33.6 7-5.8 10.8 3.8 3.1 0.75 0.22 457.0-9.3 399.6-17.8 57.4 8-2.6-7.0 10.7 4.5 3.2 0.75 0.13 324.5-6.7 331.1-15.1-6.6 9-4.9 10.9 4.2 3.2 0.75 0.12 406.0-10.6 404.3-15.8 1.7 10-5.6 11.3 3.5 2.6 0.75 0.11 467.5 6.2 437.2-4.0 30.3 11-2.8-7.2 11.3 2.8 2.5 0.75 0.11 432.2-1.7 405.9-12.0 26.3 12-6.9 11.5 2.4 2.3 0.75 0.11 392.9-4.9 362.5-8.2 30.4 2013 1-4.2 11.9 0.7 2.2 0.75 0.11 397.5 12.1 421.5 1.5-24.0 2-2.4-4.4 11.8 0.5 1.9 0.75 0.12 412.6-1.9 398.6-9.0 14.0 3-5.2 11.9 0.0 1.6 0.75 0.12 439.4-7.8 399.5-11.7 39.9 4-4.1 12.0-1.1 1.1 0.75 0.12 415.2 3.3 389.1-4.5 26.1 5-2.1-4.5 12.2-1.1 1.1 0.50 0.11 448.9-0.4 398.3-9.5 50.5 6-2.4 12.1-0.7 1.2 0.50 0.12 438.8 1.9 392.1-1.3 46.7 7-3.5 12.1-1.5 1.2 0.50 0.13 498.8 9.2 420.6 5.3 78.2 8-1.9-4.5 12.4-2.4 1.2 0.50 0.13 329.3 1.5 315.0-4.9 14.3 9-2.8 12.5-2.2 0.9 0.50 0.13 430.0 5.9 418.9 3.6 11.1 10-0.8 12.5-2.5 0.8 0.50 0.13 495.4 5.9 440.0 0.6 55.4 11-0.9 0.5 12.8-2.3 0.7 0.25 0.13 439.0 1.6 397.4-2.1 41.7 12-0.9 12.7-2.1 0.7 0.25 0.21 431.0 9.7 381.8 5.3 49.2 2014 1 0.2 12.9-1.5 0.7 0.25 0.22 408.1 2.7 403.20-4.3 4.9 2 0.1 13.0-1.7 0.5 0.25 0.22 434.4 5.3 398.60 0.0 35.8 3 0.4 0.25 0.23 * 1 19991 Main refinancing operations Minimum bid rate 2 19991 Prime rate 1 2ISTAT 3WTO
34 1803 46.0% 67.8 1 11,000 13.6% 14.4% 3 0.4% 20143 2013 0.4%20143 1.3% 1.0% 0.8% 0.7% 0.6% 0.3% 0.1% 7.0% 2 2.7% 20142 833.0 2013 2.7% 434.4 2013 5.3% 398.6 35.8 2. 0.3% 20143 0.3% 94.5 20133 108.6 3 1.4% 20143 1.4% 2014 2-0.2%2.1% 1.1% 3 1.4% 20143 556.67 548.82 1.4% 73% 400.32 2013 9.9% 5.9% GDP3% 68% 2014 119 68% 45 2013 3.8 92 2.9 30 1. 2014 7.4% 3 8.8% 20143 2,000 8.8% 3 0.81%
1803 35 1~3 17.6% 8.7% 3 2.9% 9.9% 産 5.4% 3 4.6% 1.7% 10.1% 7.8% 341 40 8.2% 6.1% 11.5% 10.1% 7.9% 13.7% 10.7% 11.7% 6.7% 10.4% 15.3% 産 4.1% 産 3 産 9,507 5.0% 20,485 5.9% 354 7.1% 145 6.1% 236.3 7.3% 120.7 4.4% 4,528 6.2% 4,192 2.6% 3 産 爲 96.9 % 0.1 9,685 5.1% 2014 3 産 68,322 17.6% 3 産 1.24% 産 3 産 1,170 25.8% 産 28,254 14.7% 産 38,898 19.6% 産 27,894 15% 1,500 12.1% 23,582 15.2% 0.1 産 2,812 15.1% 9.6 3 35,264 16.4% 17,031 20.2% 15,579 19.1% 3 64,236 19% 1,893 2% 1,976 1.7% 3 2,989 11.3% 65,332 17.9%
36 1803 3 3.0% 3 2.4% 3 521,938 14.2% 55,015 12.6% 産 95,744 12.8% 18.2% 15.3% 15.6% 6.2% 0.2% 20143 産 2.3% 産 2.5% 3 産 2.0% 産 2.1% 3 産 産 3.0% 産 2.25 6.7% 3.8% 2.2% 0.2% 産 0.05 0.2% 0.8% 0.1% 0.9% 産 7.4% 5.2% 3.1% 2.6% 0.6% 32.3% 産 爲 -1.7 爲 -0.6 20143 2.4% 2.5% 2.1% 4.1% 1.5% 2.2% 2.8% 3 2.3% 3 4.1% 1.35 12.9% 0.41 17.3% 0.37 産 7.7% 0.20 2.7% 0.08 1.8% 0.14 6.7% 0.21 0.7% 1.8% 0.2% 2.3% 2.6% 1.6% 1.2% 6.9% 0.4%
1803 37 2-4-1 % * * (+) GDP (-) ( ) ( ) * * 2003 10.0 17.0 4.3 2.3 1.2 2.97 5.04 4,382.3 34.6 4,127.6 39.8 254.7 2004 10.1 16.2 4.2 6.1 3.9 3.24 5.22 5,933.3 35.4 5,612.3 36.0 321.0 2005 11.3 16.4 4.2 4.9 1.8 3.24 5.22 7,619.5 28.4 6,599.5 17.6 1,020.0 2006 12.7 16.6 4.1 3.0 1.5 3.24 5.58 9,693.2 27.2 7,917.9 20.0 1,775.3 2007 14.2 18.5 4.0 3.1 4.8 3.24 6.57 12,186.4 25.7 9,559.5 20.7 2,626.9 2008 9.6 12.9 4.2 6.9 5.9 1.80 4.86 14,306.9 17.4 11,325.7 18.5 2,981.3 2009 9.2 11.0 4.3-5.4-0.7 1.80 4.86 12,016.1-16.0 10,059.2-11.2 1,956.9 2010 10.4 15.7 4.1 5.5 3.3 2.25 5.35 15,777.5 31.3 13,962.5 38.8 1,815.1 2011 9.2 13.9 4.1 6.0 5.4 2.25 6.10 18,983.8 20.3 17,434.8 24.9 1,549.0 2012 7.8 10.0 4.1-1.7 2.7 2.25 5.60 20,487.1 7.9 18,184.1 4.3 2,303.1 2013 7.7 9.7 4.1 1.9 2.6 2.25 5.60 22,093.7 7.8 19,503.2 7.3 2,590.5 2012 5 9.6-1.4 3.0 2.25 6.10 1,810.3 15.3 1,628.5 13.0 181.9 6 9.5-2.1 2.2 2.25 5.85 1,798.3 11.1 1,481.8 6.1 316.5 7 9.2-2.9 1.8 2.25 5.60 1,769.2 1.0 1,516.2 4.6 253.0 8 7.4 8.9 4.1-3.5 2.0 2.25 5.60 1,778.7 2.7 1,514.5-2.5 264.2 9 9.2-3.6 1.9 2.25 5.60 1,861.2 9.8 1,586.5 2.4 274.6 10 9.6-2.8 1.7 2.25 5.60 1,755.2 11.5 1,434.5 2.3 320.7 11 7.9 10.1 4.1-2.2 2.0 2.25 5.60 1,793.4 2.8 1,598.6 0.1 194.8 12 10.3-1.9 2.5 2.25 5.60 1,991.1 14.0 1,681.2 6.3 309.9 2013 1-1.6 2.0 2.25 5.60 1,872.8 25.0 1,591.9 29.6 281.0 2 7.7 4.1-1.6 3.2 2.25 5.60 1,393.1 21.8 1,244.4-15.0 148.7 3 8.9-1.9 2.1 2.25 5.60 1,821.1 10.0 1,830.4 14.1-9.3 4 9.3-2.6 2.4 2.25 5.60 1,869.4 14.6 1,685.8 16.6 183.6 5 7.5 9.2 4.1-2.9 2.1 2.25 5.60 1,826.9 0.9 1,621.5-0.4 205.3 6 8.9-2.7 2.7 2.25 5.60 1,742.4-3.1 1,469.9-0.8 272.5 7 9.7-2.3 2.7 2.25 5.60 1,859.2 5.1 1,681.6 10.9 177.6 8 7.8 10.4 4.0-1.6 2.6 2.25 5.60 1,905.6 7.1 1,623.9 7.2 281.6 9 10.2-1.3 3.1 2.25 5.60 1,856.0-0.3 1,706.3 7.6 148.5 10 10.3-1.5 3.2 2.25 5.60 1,853.9 5.6 1,543.3 7.6 310.3 11 7.7 10.0 4.1-1.4 3.0 2.25 5.60 2,021.7 12.7 1,683.2 5.3 338.2 12 9.7-1.4 2.5 2.25 5.60 2,074.2 4.2 1,821.2 8.3 252.7 2014 1-1.6 2.5 2.25 5.60 2,071.3 10.6 1,751.9 10.1 319.2 2 7.4-2.0 2.0 2.25 5.60 1,140.9-18.1 1,369.7 10.1-228.9 3 8.8-2.3 2.4 2.25 5.60 1,701.1-6.6 1,624.1-11.3 77.0 * 1 2 3WTO
38 1803 1.2% 4.1% 1.1% 0.5% 0.5% 0.4% 5.4% 1.2% 1.0% 2.6% 2.1% 8.3% 2.3% 1.3% 2.5% 4.1% 1.4% 1.0% 32.4% 爲 1.3 爲 1.1 3.7% 2014 5.9 3.7% 3 6.1% 2.9 1.2% 1,028.3 60.9%3 2.03 11.5% 1.04 9.2% 0.99 13.8% 468.6 9,658.8 1.0% 4,913.1 3.4% 4,745.7 1.6% 167.4 59.7%3 3,325.2 9% 1,701.1 6.6% 1,624.1 11.3% 77.1 3.26 6.4% 55.2% 2,223.8 76.9% 1.87 8% 31.6% 5,034 4.9% 爲 8,357.3 6.3% 14.2% 爲 7,492.2 0.9% 12.7% 爲 6,429.3 2.0% 10.9% 爲 4,565.4 2.6% 7.7% 爲 4,603.2 33.3% 7.8% 2.72 1.2% 46.1% 1.9 9.1% 32.2% 1.13 2% 19.1% 産 1.71 8.8%
1803 39 56.9% 7 産 5,931.8 2.7% 19.8% 2.22 19.4% 781.9 8.0% 8,396.4 5.1% 爲 493.7 14.2% 7,472.4 8.3% 爲 4,817.1 4.7% 1,534.6 33.5% 爲 3,516.1 10% 133.4 37.8% 爲 4.62 11.2% 854.2 18.1% 爲 4,886.9 1% 30.8 42.5% 3 12.1% 5.4% 3 M2 116.07 12.1% 1.2 1.5 M1 32.77 5.4% 1.5 3.9 (M0) 5.83 5.2% 3 80.12 13.7% 74.91 13.9% 0.3 0.2 3.01 2,592 9,293 3,006 6,287 2.08 9,334 1.12 756 3 1.05 124 8,464 12.2% 695 3 112.22 11.5% 109.10 11.4% 1.1 2.4 4.72 1.39 3.29 3,199 930 3 3.67 5,576 5,074 14.9% 423 3 2.49% 2.48%
40 1803 2. 2013 2.9% 2013 3.0%2013 2.9% 2013 2.9% 3.5% 2013 4.1% 5.5% 2012 2013 2.8% 3.7% 2013 2.4% 5.4% 2013 2.5% 2013 3.4% 4.3% 2013 1.6% 0.3% 2013 3.0% 2.8% 2013 0.5% 0.1% 2013 1.3% 0.8% 2013 3.6% 1.2% 2 2.3% 20142 405 2.3% 20142 2.3% 2013 2014 7.9% 2014 131 210 1 2 2014 5.3% 10.1% 8.5% 4.9% 9.3% 46.7%
1803 41 6.4% 7.5% 3.9% 4.4% 1.9% 6.8% 3.8% 12.9% 2014 17.2% 7.8% 2 2014 2 3.9% 20142 3.9% 20141 4.6% 20142 3.6% 4.3% 2014 1 2 2013 2 2014 4.3% 2014 4.0% 20142 5.6% 5.5% 4.2% 4.1% 3.5% 3.2% 2.2% 1.9% 1.5% 3.1% 2014 4.0% 2 2013
42 1803 * 1 2 3WTO 2-4-2 % * * (+) GDP (-) ( ) * * 2003 3.1-2.6 5.00 2,240.4 11.8 2,325.8 11.8-85.4 2004 8.7 6.9-0.4 5.00 2,594.2 15.8 2,714.6 16.7-120.4 2005 7.4 5.7 0.9 7.75 2,895.1 11.6 2,999.7 10.5-104.6 2006 7.0 2.2 4.8 2.0 7.75 3,226.6 11.5 3,357.5 11.9-130.9 2007 6.5-1.5 4.1 2.0 6.75 3,496.6 8.4 3,707.3 10.4-210.7 2008 2.1-6.7 3.5 4.3 5.00 3,706.5 6.0 3,934.4 6.1-227.9 2009-2.5-8.3 5.2 0.6 5.00 3,297.4-11.0 3,526.9-10.4-229.5 2010 6.8 3.5 4.4 2.3 5.00 4,010.2 21.6 4,420.4 25.3-410.1 2011 4.8 0.7 3.5 5.3 5.00 4,556.6 13.6 5,112.9 15.7-556.3 2012 1.5-0.8 3.3 4.1 5.00 4,933.7 8.3 5,542.2 8.4-608.6 2013 2.9 0.1 3.4 4.3 5.00 5,355.5 8.5 6,222.8 12.3-867.3 2012 5 3.2 4.2 5.00 422.4 15.0 478.7 15.6-56.4 6 3.2 3.7 5.00 395.9 1.1 461.2 3.2-65.3 7 3.2 1.7 5.00 402.4 3.1 456.6 4.5-54.2 8 1.6-0.1 3.3 3.8 5.00 432.8 1.5 482.9 5.3-50.0 9 3.3 3.8 5.00 451.5 17.4 497.2 17.0-45.7 10 3.4 3.8 5.00 415.7-6.0 469.2-4.2-53.5 11 2.9 1.3 3.4 3.8 5.00 449.1 7.8 496.4 7.9-47.3 12 3.2 3.8 5.00 469.4 25.4 527.3 19.6-57.9 2013 1 3.4 3.0 5.00 426.9 20.3 469.9 26.2-43.0 2 2.9 0.5 3.4 4.4 5.00 335.3-7.0 381.3-9.3-46.1 3 3.5 3.6 5.00 497.2 32.0 569.5 32.2-72.2 4 3.5 4.1 5.00 444.5 10.5 504.3 12.2-59.8 5 3.1 0.3 3.4 3.9 5.00 441.7 4.6 522.5 9.1-80.7 6 3.3 4.2 5.00 415.3 4.9 508.8 10.3-93.4 7 3.3 6.9 5.00 454.1 12.9 528.0 15.6-73.8 8 2.8-0.9 3.3 4.5 5.00 461.6 6.7 573.4 18.7-111.8 9 3.3 4.6 5.00 466.7 3.4 537.9 8.2-71.2 10 3.3 4.3 5.00 485.0 16.7 540.4 15.2-55.4 11 3.0 0.5 3.3 4.3 5.00 471.9 5.1 551.5 11.1-79.6 12 3.2 4.3 5.00 455.3-3.0 535.6 1.6-80.3 2014 1 3.1 4.6 5.00 437.1 2.4 505.8 7.6-68.7 2 3.1 3.9 5.00 328.7-2.0 414.3 8.7-85.7 3 3.1 3.9 5.00
1803 43 2 1.3% 20142 1.3% 6.8% 2013 0.8% 0.8% 2.6% 1.4%2014 735 12.5% 20142 3.7% 33.1% 14.8% 8.6% 6.5% 18.0% 13.7%10.9% 19.7% 19.5% 16.9% 40.7% 29.3% 25.8% 20.7% 15.8% 2.8%0.8% 2014 1. 2 3 3 BSI 81 3P 3 BSI 81 3P4 BSI86 1P 7P 2P 5P BSI3 89 1P4
44 1803 94 2P BSI3 88 4 89 1P BSI3 87 4 87 2P 21.8% 20.0% 3 BSI69 4 BSI73 3P BSI3 76 2P4 79 4P BSI3 80 4 84 BSI 3 82 1P4 82 4P 24.8% 14.9% 13.2% BSI 3 ESI 98 1P 3 108 3 CSI 108 CSI 91 2P CSI101 CSI102 CSI111 1P CSI CSI 88102 3P CSI96 2P CSI 103 1P CSI88 2P CSI94 CSI102 1P CSI 99 CSI136 CSI CSI 121 118 1 2.8% 1 2.8% 0.1 1 60.5% 39.3% 37.8%
1803 45 * 1 2 3WTO 2-5-1 % * * (+) GDP (-) ( ) ( ) * * 2003 2.9 5.5 3.6 2.2 3.5 3.75 6.20 1,938.2 19.3 1,788.3 17.6 149.9 2004 4.9 10.4 3.7 6.1 3.6 3.25 5.52 2,538.4 31.0 2,244.6 25.5 293.8 2005 3.9 6.3 3.7 2.1 2.8 3.75 5.74 2,844.2 12.0 2,612.4 16.4 231.8 2006 5.2 8.4 3.4 0.9 2.2 4.50 6.19 3,254.6 14.4 3,093.8 18.4 160.8 2007 5.5 6.9 3.2 1.4 2.5 5.00 7.08 3,714.9 14.1 3,568.5 15.3 146.4 2008 2.8 3.4 3.2 8.5 4.7 3.00 6.89 4,220.1 13.6 4,352.7 22.0-132.7 2009 0.7-0.1 3.6-0.2 2.8 2.00 5.81 3,635.3-13.9 3,230.8-25.8 404.5 2010 6.5 16.3 3.7 3.8 2.9 2.50 5.40 4,663.8 28.3 4,252.1 31.6 411.7 2011 3.7 6.0 3.4 6.7 4.0 3.25 5.69 5,554.1 19.1 5,243.5 23.3 310.6 2012 2.3 1.4 3.2 0.7 2.2 2.75 4.84 5,478.7-1.4 5,195.9-0.9 282.9 2013 3.0 0.2 3.1-1.6 1.3 2.50 4.52 5,596.3 2.1 5,155.8-0.8 440.5 2012 5 3.3 3.2 1.0 2.5 3.25 5.66 468.7-1.1 444.8-1.8 23.9 6 0.7 3.2 0.0 2.2 3.25 5.58 471.6 0.9 419.9-6.3 51.7 7 0.0 3.1-0.6 1.5 3.00 5.45 446.7-8.8 419.8-5.2 26.9 8 2.1-1.3 3.1-0.1 1.3 3.00 5.22 430.5-5.9 411.2-9.4 19.3 9 0.3 3.2 0.2 2.1 3.00 5.13 454.1-2.4 425.6-5.9 28.5 10-0.8 3.0-0.5 2.1 2.75 4.98 470.9 1.0 433.8 1.5 37.1 11 2.1 3.0 3.0-0.9 1.6 2.75 4.94 478.1 3.8 433.8 0.9 44.2 12 0.1 3.0-1.2 1.4 2.75 4.84 448.8-6.1 430.7-5.3 18.1 2013 1 7.5 3.1-1.6 1.6 2.75 5.00 456.7 10.9 453.0 4.1 3.8 2 2.1-8.7 3.4-1.6 1.6 2.75 4.91 423.3-8.6 404.6-10.3 18.7 3-2.2 3.1-2.4 1.5 2.75 4.77 473.1 0.0 439.8-2.4 33.4 4 2.2 3.1-2.8 1.3 2.75 4.73 461.6 0.1 436.5-0.7 25.1 5 2.7-0.5 3.2-2.6 1.1 2.50 4.62 483.1 3.1 423.9-4.7 59.2 6-1.6 3.1-1.4 1.2 2.50 4.52 466.9-1.0 407.2-3.0 59.7 7 1.4 3.2-1.0 1.6 2.50 4.60 458.3 2.6 433.8 3.4 24.5 8 3.4 3.2 3.1-1.3 1.5 2.50 4.55 463.1 7.6 415.9 1.2 47.2 9-3.8 3.0-1.8 1.0 2.50 4.54 446.5-1.7 410.6-3.5 36.0 10 3.6 3.0-1.4 0.9 2.50 4.46 504.8 7.2 456.1 5.1 48.8 11 3.7-0.7 3.0-0.9 1.2 2.50 4.50 479.1 0.2 431.1-0.6 48.0 12 2.4 3.1-0.4 1.1 2.50 4.52 479.8 6.9 443.5 3.0 36.3 2014 1-3.3 3.2-0.3 1.1 2.50 4.53 456.0-0.2 448.1-1.1 7.8 2 3.9 4.3 3.9-0.9 1.0 2.50 4.45 429.4 1.4 420.4 3.9 9.0 3 3.5-0.5 1.3 2.50 497.2 5.1 455.5 3.6 41.7
46 1803 2 1.2% 2 1.2% 1.7% 2 5.8% 14.9% -7.2% -4.9% 1.8% -7.7% - 6.7% 11.3% 12.5% 4.3% 0.6% 5.8% 4 2.1 76.2% 1.7% 3.1% -4.7% -1.2% 0.4% -1.1% -0.7% 7.2% 1.1% 1.3% 2.4% 0.4% -7.4% 3.2% - 12.3% -12.1% -4.9% 8.1% 7.7% 0.3% 12.3% 14.1% 3.6% 6.3% 17.6% 4 0.1
1803 47 0.1 3 64.9 3 2,516.3 64.9 60 3 59.4% 1.0 OECD 1564 64.5% 1.1 17 4.8% 16.6 8.8% 14.3 3.5% 12 7.9% 9.1 5.4% -4.1-3.0% -2.8-2.3% -2.4-2.3% 52.4 4.5% 15.7 3.3% -2.7-1.8% - 1.8-0.3% 1.3 1.1% 3 102.4 14.1 3.9%1529 9.9% 3-20.2-3.3% -17.4-11.0% -6.1-1.4% 37.2 60.2 4.6 33.4 15.8 3 0.2% 3 108.992010=100 0.2% 1.3% 1.0% 0.3 0.3%2.1% 0.2%1.7% 0.2% 0.8% 0.2% 0.2%1.1% 0.2%1.0% 1.8% 11.3% 0.2%
48 1803 0.6% 3.5%22.6% 1.4%4.8% 1.9%22.6% 3 3 0.5% 0.3% 0.2% 0.2% 0.6% 4.0% 0.1%IT 0.3% 0.1% 3 4973 5.1% 497 456 3.6% 456 41.7 13.6% 14.7% 14.8% 26.7% 15.7% -4.3% -9.7% -0.1% 4.4% 16.9% 15.1% 4.3% 1.0% -7.5% -11.2% -11.6% 0.4% 9.6% 3.5% 0.8% 20.1% -3.9% -6.6% 0.9% 4.8% 15.9% 9.7% 4.1% 5.9% 26.5% -2.6% -11.1% - 22.1% 41.7 20122 26 64.3 460 18.7 14.4-79.8-20.1-12.5-4.2 201413 1,382 1,324 59
1803 49 3 0.4% 0.5% 3 0.4% 4.2% 1.5% 0.4% 3 0.5% 4.5% 0.6% 0.7% 0.1% 2. 1 5.1% 2014 5.1% 5.4% 2013 2 12.8% EDB 20142 12.8% 6.2% 2 11.2% 3.8% 2 19.3% 14.8% 2 9.5% 20142 9.5% 2013 2 2014 1
50 1803 * 1 2 3 4WTO 2-5-2 % * * (+) GDP (-) ( ) * * 2003 4.6 4.0 0.5 5.30 1,599.6 27.8 1,362.6 17.0 237.0 2004 9.2 13.9 3.4 1.7 5.30 1,986.3 24.2 1,735.8 27.4 250.5 2005 7.4 9.5 3.1 0.5 5.30 2,296.5 15.6 2,000.5 15.2 296.0 2006 8.9 11.9 2.7 1.0 5.33 2,718.1 18.4 2,387.1 19.3 331.0 2007 9.0 5.9 2.1 2.1 5.33 2,993.0 10.1 2,631.5 10.2 361.4 2008 1.9-4.2 2.3 6.6 5.38 3,381.8 13.0 3,197.8 21.5 184.0 2009-0.6-4.2 3.0 0.6 5.38 2,698.3-20.2 2,457.8-23.1 240.5 2010 15.1 29.7 2.2 2.8 5.38 3,518.7 30.4 3,107.9 26.4 410.8 2011 6.0 7.8 2.0 5.2 5.38 4,095.0 16.4 3,657.7 17.7 437.3 2012 1.9 0.3 1.9 4.6 5.38 4,083.9-0.3 3,797.2 3.8 286.7 2013 4.1 1.7 1.9 2.4 5.38 4,102.5 0.5 3,730.2-1.8 372.3 2012 5 6.4 5.0 5.38 345.3 1.1 329.7 3.9 15.6 6 7.7 5.3 5.38 338.1-3.9 322.5 2.5 15.6 7 2.2 4.0 5.38 334.5-3.3 306.9 2.2 27.7 8 0.4-2.8 1.9 3.9 5.38 334.3-9.0 306.5-11.3 27.7 9-3.6 4.7 5.38 337.1-5.1 305.1 1.0 32.1 10-5.0 4.0 5.38 359.8 6.1 331.1 9.8 28.7 11 2.2 2.8 1.8 3.6 5.38 341.1 2.3 325.6 0.5 15.5 12 1.6 4.3 5.38 315.1-8.5 298.5 4.5 16.6 2013 1 0.2 3.6 5.38 336.9 6.5 321.8 4.9 15.0 2 0.6-15.5 1.9 4.9 5.38 293.2-18.6 273.4-13.6 19.8 3-3.6 3.5 5.38 333.1-6.8 296.0-12.6 37.1 4 5.1 1.5 5.38 353.3 2.4 320.2 3.5 33.1 5 4.2 2.6 2.1 1.6 5.38 353.7 2.4 318.5-3.4 35.2 6-4.7 1.8 5.38 332.1-1.8 295.8-8.3 36.2 7 3.0 1.9 5.38 349.9 4.6 323.6 5.5 26.3 8 5.8 3.5 1.8 2.0 5.38 340.3 1.8 309.5 1.0 30.8 9 9.3 1.6 5.38 356.4 5.7 323.0 5.9 33.4 10 8.2 2.0 5.38 383.0 6.4 340.0 2.7 43.0 11 5.5 6.7 1.8 2.6 5.38 337.7-1.0 308.9-5.1 28.8 12 6.4 1.5 5.38 332.9 5.6 299.3 0.3 33.6 2014 1 4.4 1.4 5.35 339.0 0.6 307.8-4.4 31.2 2 12.8 0.4 5.35 318.5 8.6 284.9 4.2 33.5 3 1.2 5.35 353.6 6.1 335.7 13.4 17.9
1803 51 2 0.4% 2 0.6%33.7% 33.7% 29.1% 18.3% 11.1% 10.5%2 7.0% 20142 0.4% 2010 7.1% 5.6% 2013 2 2% 2 1.6% 9.1% IES 20142 9.1% 1 3.3% 7.5% 2 7.2% 1 5% 1% 2 35.5% 1 15.3% 22.3% 5.3% 3.4% 9.5% 2 3.7% 1 17% 15.4% 3.5% 21.8% 9.4% 2 2 1.2 NSO 20142 1.2% 5%20132 5.3% 2013 NSO 20143 2 4.1% 3.9% 3.2% 2 7.1% 4.9% 3.6% 2.7% 3 3.9%
52 1803 * 1NSCB 2 3 4WTO 2-5-3 % * * (+) GDP (-) ( ) ( ) * * 2003 5.0-1.3 11.4 8.6 2.3 5.5 9.00 362.3 2.9 404.7 3.1-42.4 2004 6.7-2.5 11.8 12.0 4.8 8.4 9.00 396.8 9.5 440.4 8.8-43.6 2005 4.8 1.0 9.8 9.0 6.6 5.7 9.75 512.5 29.2 474.2 7.7 38.3 2006 5.2-8.5 7.9 11.2 5.5 5.0 9.75 474.1-7.5 537.5 13.3-63.4 2007 6.6-2.7 7.3-0.7 2.9 4.3 7.25 504.7 6.4 577.1 7.4-72.4 2008 4.2 0.3 7.4 4.1 8.2 6.0 8.00 490.3-2.9 602.1 4.3-111.8 2009 1.1-11.9 7.5-1.4 4.2 3.5 6.00 384.4-21.6 458.4-23.9-74.1 2010 7.6 23.2 7.3-4.9 3.8 4.0 6.0 515.0 34.0 584.7 27.5-69.7 2011 3.6 1.1 7.0 1.0 4.7 4.5 6.5 483.1-6.2 641.0 9.6-157.9 2012 6.8 7.7 7.0-0.6 3.2 3.5 5.5 521.0 7.9 585.1-8.7-64.1 2013 7.2 14.0 7.1-7.5 2.9 3.5 5.5 539.8 3.6 651.7 11.4-112.0 2012 5-3.4 1.4 3.0 4.00 6.00 49.3 19.7 57.1 9.9-7.7 6 10.7-1.7 2.9 4.00 6.00 43.1 4.3 54.2 13.6-11.1 7 3.8 7.0-1.5 3.2 3.99 5.95 47.3 6.0 53.6 1.1-6.3 8 7.3 2.4-0.1 3.8 3.75 5.75 38.1-8.7 54.9 1.1-16.8 9 9.8-1.8 3.7 3.75 5.75 48.1 23.5 56.3 3.8-8.2 10 20.6 6.8-3.0 3.2 3.73 5.70 44.1 6.1 55.8 4.2-11.7 11 7.1 11.7-3.4 2.8 3.50 5.50 36.1 7.3 54.8 2.4-18.7 12 10.5-4.0 3.0 3.50 5.50 39.7 16.6 56.0 13.5-16.3 2013 1 10.0 7.1-9.8 3.1 3.50 5.50 40.1-2.7 50.0-8.1-9.9 2 7.7 5.4-9.6 3.4 3.50 5.50 37.4-15.6 49.5-7.4-12.1 3-1.0-10.0 3.2 3.50 5.50 43.3 0.1 52.1-8.5-8.8 4 9.0 7.5-9.6 2.6 3.50 5.50 41.2-11.1 54.0 6.3-12.8 5 7.6 20.2-9.5 2.6 3.50 5.50 48.9-0.8 55.4-2.8-6.5 6 9.0-7.4 2.7 3.50 5.50 44.9 4.1 51.4-5.2-6.5 7 14.5 7.3-6.3 2.5 3.50 5.50 48.4 2.3 57.9 8.0-9.5 8 6.9 17.5-6.4 2.1 3.50 5.50 45.8 20.2 58.5 6.7-12.7 9 18.9-6.8 2.7 3.50 5.50 50.6 5.1 60.0 6.5-9.4 10 21.1 6.4-5.7 2.9 3.50 5.50 50.3 14.0 50.8-9.0-0.5 11 6.5 18.8-4.8 3.3 3.50 5.50 42.9 18.9 55.1 0.5-12.2 12 23.9-4.1 4.1 3.50 5.50 46.0 15.8 57.0 1.7-11.0 2014 1 5.0 7.5-0.7 4.2 3.50 5.50 43.8 9.2 60.6 21.1-16.8 2 1.2-0.3 4.1 3.50 5.50 3 3.9 3.50 5.50
1803 53 Tetangco 2014 4.1% 3%~5%2015 2%~4% 2 24.4% NSO 20142 46.5 24.4% 7 40.4% 18.8 26.6% 1 21.8% 20141 57.6 21.8% 2013 7.2%, 7.7% Arsenio Balisacan 20141 13.8 92% 14.7% 10.6% 2 6.8% 20142 19.9 18.8 6.8% 2014 40 6.4%2014 40 2013 37.6 2 1 20.0 27 9.0 4.3%10.3% 12 2 140% 20142 140% 225 2014 302.4 2 219.3
54 1803 5.7 61% 138.4 3 2014 2.6% 2014 4% 2.6% 2014 GDP GDP 2014 2015 QE 2015 201410 20153 2015 2 4.4% 20142 4.4% 11 59.2% 2014 GDP 2%~2.5% 3~4% 1.5%~2% 1.5%~2.5% 106.14 32.17 1 2 85.7 20142 85.7 1 86.9 56 2 85.7 19997 56 3 98.4 1 100 3
1803 55 SME 3 2.1% 20143 106.9 2.1% 2.0% 5.0% 450 117 70 203 2014 2% 2 2.4% 20142 183.6 2.4% 2 166 16.6%20142 17.6 1 2014 2014 3%~4% 6%~7% 5%~7% 2 2~3 2014 5% IMF 3.7% 1.3%
56 1803 2-5-4 % * * (+) GDP (-) ( ) ( ) * * 2003 7.1 13.1 2.2 1.8 1.03 5.75 781.1 18.2 743.5 17.4 37.6 2004 6.3 11.6 2.1 2.8 1.79 5.75 949.4 21.5 934.8 25.7 14.6 2005 4.6 9.7 1.9 4.5 3.80 6.75 1,093.6 15.2 1,176.2 25.8-82.6 2006 5.1 5.9 1.5 4.6 4.85 7.75 1,297.2 18.6 1,287.7 9.5 9.5 2007 5.0 8.5 1.4 2.2 3.20 7.10 1,538.7 18.6 1,399.7 8.7 139.0 2008 2.5 4.5 1.4 5.5 2.71 7.00 1,777.8 15.5 1,792.2 28.0-14.5 2009-2.3-6.9 1.5-0.9 1.00 6.13 1,524.2-14.3 1,337.1-25.4 187.1 2010 7.8 14.2 1.1 3.3 1.80 6.38 1,933.1 26.8 1,829.2 36.8 103.8 2011 0.1-8.5 0.7 3.8 3.15 7.50 2,225.8 15.1 2,287.9 25.1-62.1 2012 6.5 2.2 0.7 3.0 2.69 7.38 2,292.4 3.0 2,499.9 9.3-207.5 2013 2.9-3.2 0.7 2.2 2.20 7.38 2,285.3-0.3 2,507.2 0.3-221.9 2012 5 5.4 0.9 2.5 2.92 7.38 209.3 10.2 229.4 19.6-20.1 6-9.9 0.7 2.6 2.94 7.38 197.7-2.3 204.0 3.0-6.3 7-5.7 0.6 2.7 2.94 7.38 193.5-5.4 211.2 12.8-17.7 8 3.1-11.3 0.6 2.7 2.92 7.38 197.0-7.2 210.0-7.8-13.0 9-15.8 0.6 3.4 2.92 7.38 207.8 0.2 198.7-6.6 9.1 10 35.9 0.6 3.3 2.83 7.38 195.2 15.6 223.6 23.6-28.4 11 19.1 81.3 0.4 2.7 2.69 7.38 195.5 26.9 211.3 25.2-15.8 12 22.7 0.5 3.6 2.69 7.38 181.0 13.5 207.8 6.3-26.8 2013 1 10.1 0.8 3.4 2.70 7.38 182.7 16.1 241.8 43.4-59.1 2 5.4-1.2 0.6 3.2 2.71 7.38 179.3-5.8 199.0 7.6-19.8 3 0.8 0.7 2.7 2.70 7.38 205.8 3.6 215.4-13.6-9.5 4-3.9 0.9 2.4 2.70 7.38 174.0 3.0 218.8 9.0-44.8 5 2.9-7.5 0.8 2.3 2.68 7.38 198.3-5.3 222.9-2.8-24.6 6-3.2 0.5 2.3 2.48 7.38 191.0-3.4 209.9 2.9-19.0 7-4.9 0.9 2.0 2.47 7.38 190.6-1.5 213.5 1.1-22.8 8 2.7-2.8 0.8 1.6 2.45 7.38 204.7 3.9 205.6-2.1-0.9 9-2.9 0.7 1.4 2.46 7.38 193.0-7.1 188.3-5.2 4.7 10-4.0 0.6 1.5 2.46 7.38 193.9-0.7 211.6-5.4-17.7 11 0.6-10.7 0.7 1.9 2.46 7.38 187.6-4.1 193.1-8.6-5.6 12-6.3 0.7 1.7 2.20 7.38 184.4 1.9 187.2-9.9-2.8 2014 1-5.6 0.9 1.9 2.20 7.38 179.1-2.0 204.3-15.5-25.2 2-4.4 0.9 2.0 2.19 7.38 183.6 2.4 166.0-16.6 17.7 3 2.1 2.05 7.25 * 1 2 3 4WTO
1803 57 31.5 1 2014 10% QE 4 2 6.7% 20142 6.7% 9.8% 8.7% 1.4% 6.3% 52.5% 16.4% 4% 1 20142 2.9% 4.3% 3.7% 1.7% 20142 6.3% 2 16.1% 20142 535 165.5 16.1% 1 3.9% 138 94 84.3% 59.6% 39.1% 20.8% 27.4% 201412 1,091.3 13.7% 20142 102.5 0.4% 0.8%20142 27.6 6.7% 4% 201412 56.3 7.4% 2 3.5% 20142 109.8 106.1 3.5% 20142 3.5% 2011 6
58 1803 2014 3%~4% 2 14.1% 5.5% 4.4% 3.8% 3.5% 2.3% 2.2% 1.6% 1.5% 0.2% 0.6% 0.4% 201412 109.7% 3.5% 2 12.3% 20142 589.1 180.3 12.3% 484.8 9.5% 104.4 27.2% 2 12.3% 12.1% 41.9%23.6%18.9%17.5% 15.9% 14.9% 8.4% 19.8%5.1% 19.5%18.8%18.1% 12.5% 8.2%7%6.3% 20142 7 8 2014 5% 2 186.0 31.6% 56.5 52.7 41.0 37.3 23.6 22.3 21.7 16.8 14.2 82.3 75.2 73.6 45.3 30.4 25.7 2 128.9 59.7 45.8 70.2 66.5 44.8
1803 59 * 1 2 3WTO 2-5-5 % * * (+) GDP (-) ( ) * * 2003 9.2 6.00 1,047.1 11.3 833.0 4.4 214.1 2004 11.3 5.98 1,266.5 21.0 1,051.7 26.3 214.8 2005 3.6 6.20 1,416.3 11.8 1,143.2 8.7 273.1 2006 5.6 4.8 3.6 6.72 1,607.5 13.5 1,304.4 14.1 303.1 2007 6.3 2.3 2.0 6.72 1,759.7 9.5 1,461.7 12.1 298.0 2008 4.8 0.8 5.4 6.48 1,994.1 13.3 1,563.5 7.0 430.7 2009-1.5-7.6 3.6 0.6 5.51 1,572.4-21.1 1,237.6-20.8 334.9 2010 7.2 7.2 3.2 1.7 6.27 1,986.1 26.3 1,646.2 33.0 339.9 2011 5.1 1.2 3.1 3.2 6.53 2,280.9 14.8 1,874.7 13.9 406.1 2012 5.6-1.5 3.0 1.7 6.53 2,275.4-0.2 1,963.9 4.8 311.5 2013 4.7 3.3 3.1 2.1 6.53 2,282.8 0.3 2,060.1 4.9 222.6 2012 5-0.3 3.0 1.7 6.53 189.9 3.4 174.6 12.9 15.4 6-1.6 3.0 1.6 6.53 192.1-1.5 162.9-2.0 29.2 7-5.4 3.1 1.4 6.53 183.2-8.0 172.0 3.5 11.2 8 5.3-5.3 2.7 1.4 6.53 178.6-9.1 156.8-1.6 21.8 9-0.5 3.2 1.3 6.53 194.5 2.2 172.4 8.5 22.1 10 0.4 3.2 1.3 6.53 200.2-0.7 169.0 8.5 31.2 11 6.5 3.5 2.9 1.3 6.53 190.7 5.8 161.4 7.5 29.2 12-1.3 3.3 1.2 6.53 188.1-2.1 160.4-3.3 27.7 2013 1 3.1 3.3 1.3 6.53 187.5 5.9 176.8 18.9 10.8 2 4.1-4.5 3.0 1.5 6.53 169.4-10.1 142.9-6.7 26.5 3 0.9 3.3 1.6 6.53 193.1-5.2 177.4 5.2 15.7 4 6.1 3.0 1.7 6.53 183.0-3.2 179.6 9.5 3.4 5 4.4 5.6 3.3 1.8 6.53 184.9-2.6 175.4 0.5 9.5 6 3.7 2.8 1.8 6.53 180.2-6.2 166.5 2.2 13.7 7 10.8 3.0 2.0 6.53 190.3 3.9 181.4 5.4 9.0 8 5.0 3.7 3.1 1.9 6.53 191.7 7.3 170.0 8.4 21.7 9 2.4 3.1 2.6 6.53 194.7 0.1 168.0-2.5 26.7 10 2.1 3.3 2.8 6.53 211.1 5.4 185.2 9.6 25.9 11 5.1 1.3 3.4 2.9 6.53 194.5 2.0 164.1 1.7 30.3 12 5.1 3.0 3.2 6.53 202.3 7.6 172.8 7.7 29.5 2014 1 3.5 3.3 3.4 6.53 193.6 3.2 174.4-1.4 19.2 2 6.8 3.5 6.53 178.1 5.2 146.5 2.6 31.5 3 3.5
60 1803 38.8 31.4 2014 2 2,289.8 10.4% 1,228.9 12.3% 1,061.0 8.3% 167.9 46.3% 5 2014 5.4% IMF 2014 5.4%2015 5.8% 2013 IMF 2014 4.9% 2015 5.4% 2014 3%2015 2.7% 7.5% IMF 2014 4.9% 2013 4.7% IMF 2014 3.6%2015 3.9% 2013 3% 3 7.3% BPS 20143 3 CPI 7.3% 2 7.8% 7.4% 4.6% 2 8.5% BPS 20142 156 8.5% 33 26.4% 123 4.6%20121 2 312 7.6% 29.1% 20142 150 27.3%2014 12 295 21.4% 230 22.4% 2 7 9 2 2
1803 61 * 1 2 3WTO 2-5-6 % * * (+) GDP (-) ( ) * * 2003 4.8 5.5 9.5 15.07 610.6 6.8 325.5 4.0 285.1 2004 5.0 3.3 9.9 13.41 715.8 17.2 465.2 42.9 250.6 2005 5.7 1.3 11.2 16.23 856.6 19.7 577.0 24.0 279.6 2006 5.5-1.6 10.3 15.07 1,035.3 20.9 806.6 39.8 228.7 2007 6.3 5.6 9.1 13.00 1,180.1 14.0 931.0 15.4 249.1 2008 6.0 3.0 8.4 9.8 15.22 1,396.1 18.3 1,276.0 37.1 120.0 2009 4.6 1.3 7.9-20.9 13.69 1,196.5-14.3 945.5-25.9 251.0 2010 6.2 4.4 7.1 5.1 12.83 1,580.7 32.1 1,353.2 43.1 227.5 2011 6.5 4.1 6.6 5.3 12.16 2,007.9 27.0 1,762.0 30.2 245.9 2012 6.3 4.1 6.1 4.0 11.49 1,885.0-6.1 1,903.8 8.0-18.9 2013 5.8 6.0 6.3 6.4 12.12 1,835.5-2.6 1,873.7-1.6-38.2 2012 5 2.5 4.4 11.78 163.7-8.1 169.0 14.0-5.3 6 2.4 4.3 11.79 153.0-13.1 161.4 3.6-8.4 7 1.8 4.2 11.78 156.5-7.5 158.2-0.1-1.7 8 6.2-2.3 6.1 4.1 11.73 143.5-22.6 137.6-6.5 5.9 9 5.3 3.8 11.70 155.5-8.2 152.3 3.3 3.2 10 9.8 4.1 11.68 154.8-9.4 172.9 11.9-18.0 11 6.2 12.6 3.8 11.61 159.2-4.2 161.2 4.0-2.1 12 10.9 3.7 11.49 156.6-7.9 154.7-2.7 1.8 2013 1 10.9 3.8 11.49 153.5-2.1 157.1 3.7-3.6 2 6.0 6.3 5.9 4.6 11.45 145.7-7.2 152.0-3.9-6.2 3 9.9 5.0 11.44 153.1-9.8 151.7-6.5 1.4 4 10.4 4.9 11.44 149.4-5.8 162.7-1.2-13.3 5 5.8 6.9 4.9 11.46 157.6-3.8 166.2-1.6-8.7 6 3.2 5.4 11.41 148.5-3.0 157.8-2.3-9.2 7 3.5 8.0 11.66 154.0-1.6 177.4 12.2-23.5 8 5.6 12.5 6.3 8.2 11.63 135.2-5.8 132.3-3.8 2.9 9 6.2 7.9 11.80 152.3-2.1 154.3 1.3-2.1 10-0.1 7.9 11.93 158.4 2.3 157.6-8.8 0.8 11 5.7 1.8 8.1 12.06 158.3-0.6 150.6-6.6 7.7 12 2.8 8.1 12.12 169.4 8.2 154.0-0.5 15.5 2014 1 1.9 8.2 12.25 143.9-6.2 152.1-3.1-8.2 2 3.8 7.7 12.33 147.1 0.9 139.0-8.5 8.1 3 7.3
62 1803 66.1%2014 2 17 63.8% 17 64.5% 6370 77.9% 2014 2 21.3% 6.9% 30.5% 5.6% 15.5% 0.03% 35.9% 7% 20142 44.1 35.9 17.1 42.2% 50.2 21.8% 21.2 9.2% 2014 212.9 72.2% 59.5 20.2% 22.6 7.7% Fed 331 Fed 2014321 418 1 2014321 4 18 63.00 1,283.751,336.00 418 1,299.00 321 4 18 20143 21 4 18 1 102.38 102.43 101.43103.94 1 0.6061 0.5955 0.5949 0.6064 1 0.7255 0.7238 0.71950.7297
1803 63 3MARKIT PMI 55.52 44.0 3.3% ISM3 53.7 3 2 78.3 82.32 2.2% GDP 2.6%2 0.1% ADP 3 19.1 2 4 12 3.2 4 16.63 CPI 0.2% 331 Fed Fed 3 Fed 6 20154 7 41 5% 8% 4 8 60~70 3 53.2 3IFO 110.7 3 HICP 0.5% 200911 1%
64 1803 6 412 0.7%2 1.7% 3.7% 2 2.7% 0.9% 3 4 ILO 6.9% MPC 2015 3 PMI 3 57.6 319 0~0.25% 416 1.00% 20141 850 750 Fed130 319 0%0.25% 100 Fed 550 4 250 MBS 300
1803 65 Fed 2015 16 11 Fed 2015 1%9 Fed 2016 2.25%Fed 220 6.5% Fed Bank of Canada416 1.00% 0.25% 0.5% 3.00% 2.50% 2.00% 7.50% 2.50% 0.1% 3 0.5% 200911 1% 43 17 0.25% 0.75%0.00% 410 0.5% 3,750 2014 2.5% 2.9% RBNZ424 3.00% RBA34 2.50% 423 1 2% 48 7.50% 5.75% 5 3 7.32% 20137
66 1803 410 2.5% 48 0~0.1% 60~70 41 GDP 321 4 18 63.00 1,283.75 1,336.00 4 18 1,299.00 2014321 1,336.00 3 4 415 418 1,299.00 63.00 3 6 20154 3 19.2 20.0 3 6.7% 5
1803 67 6.6% Fed 48 ETF SPDR Gold Trust GLD EIA48 Short-Term Energy Outlook EIA 2014 2015 140 130 OPEC 2014 120 2015 140 OECD EIA OPEC OPEC 2015 OPEC 2013 3,000 2,950 OPEC 2013 210 2015 360 EIA 2013 120 9,040 EIA 2014 120 2015 140
68 1803 2014 2015 GDP 20132.3% 2.9%3.4% OECD 2014 2015 2014 2015 40 43 2012 2009 2011 9.0% 70 EIA OECD 2014 EIA 2014 2015 15 2014 2015 2013 10 2014 6 2015 2013 40 2014 2015 9 EIA 2013 OPEC 130 5,400 EIA 2014 2015 OPEC 160 130 2014 2015 140 120 EIA 16 2014 2015 20143 OPEC 60 2 4 OPEC 90.0%OPEC 2013 3,000 2012 90 EIA 2014 2015OPEC 20 OPEC 2014 OPEC 3 20143 (1) (2) 2 (3) El Sharara (4) EIA 2014 4 122 EIA 2015 (5) EIA 500 (6)
1803 69 1 2 (7) IEA 2014 (8) Fed Fed MBS 650 550 (9) Fed 2014 4 20144 (1) (2) Brent Zueitina (3) (4) IEA 2014 (5) IEA 20 100 (6) EIA 411 1,000 3.94 230 520 EIA1990 EI20144 OMI OPEC OPEC 3OPEC 2 82.1 OPEC 300 OECD OECD OPEC 82.1 50 30 OPEC 2,970 100 OPEC 2.42 2013 3.70 104.47 2014 3
70 1803 4-1 OPEC * % 2007 69.03 72.51 72.27 68.42 2008 93.27 96.99 99.67 93.61 2009 61.00 61.48 61.64 61.68 2010 77.38 79.53 79.41 78.14 2011 107.44 111.33 95.08 106.18 2012 109.50 111.67 94.19 109.09 2013 105.94 108.74 97.88 105.56 201303 106.44 108.41 92.88 105.46 04 101.05 102.30 92.00 101.75 05 100.65 102.66 94.66 100.42 06 101.03 102.95 95.74 100.41 07 104.45 107.94 104.51 103.52 08 107.52 111.26 106.50 106.87 09 108.73 111.89 106.22 108.37 10 106.69 109.20 100.43 106.69 11 104.97 108.02 93.79 106.07 12 107.67 110.83 97.81 107.79 201401 104.71 108.28 94.87 103.96 02 105.38 108.91 100.75 105.05 03 104.15 107.5 100.53 104.38 20143 % -1.17-1.29-0.22-0.64 20143 % -2.15-0.84 8.24-1.02 *Saharan Blend Minas Iran Heavy Basra Light Kuwait Export Es Sider Bonny Light Qatar Marine ArabLight Murban BCF17 11 Energy Intelligence Group,Oil Market Intelligence, April 2014. 4-1 130.00 125.00 120.00 OPEC 115.00 110.00 105.00 100.00 95.00 90.00 85.00 80.00 75.00 70.00 65.00 03/2012 07/2012 11/2012 03/2013 07/2013 11/2013 03/2014 /
1803 71 4-2 / 2014 2013 2013 2013 2014 1 2 3 3 OECD 45.4 46.4 45.3 45.3 46.5 46.1 45.7 OECD 44.8 46.1 44.8 44.0 45.9 45.4 45.2 90.3 92.5 90.1 89.2 92.5 91.4 90.9 OPEC 29.7 30.2 29.3 30.1 29.7 30.3 29.7 OPEC6.3 6.4 6.4 6.1 6.3 6.2 6.4 OPEC 54.5 54.6 55.1 52.6 54.2 53.2 54.7 2.3 2.3 2.2 2.1 2.3 2.2 2.3 92.8 93.4 93.0 90.9 92.5 91.9 93.1 2.6 0.9 3.0 1.7 0.0 0.5 2.2 OECD 2,520 2,506 2,487 2,665 4,878 4,894 4,927 4,881 4-1 4-3 / 2014 1 2 3 a 1OPEC 9,517 9,600 9,316 11,460 9,345 2,650 2,659 2,626 3,500 3,458 2,948 3,635 3,295 3,750 3,295 2,685 2,667 2,600 2,860 2,565 2,717 2,701 2,778 2,900 2,448 732 734 710 750 796 500 500 500 670 na 2,468 2,454 2,424 2,650 2,298 1,726 1,707 1,624 2,350 2,021 508 250 305 1,650 305 1,148 1,128 1,132 1,200 1,206 1,554 1,567 1,464 1,900 1,784 550 551 557 560 478 OPEC 29,703 30,151 29,330 36,200 30,000 OPEC 6,179 6,186 6,208 OPEC 36,052 36,502 35,708 2 OPEC 8,066 8,184 8,286 3,529 3,577 3,631 2,506 2,501 2,518 2,052 2,090 2,132 1,580 1,560 1,545 10,613 10,578 10,549 1,407 1,372 1,396 4,255 4,201 4,214 773 775 784 808 780 784 18,930 18,974 19,253 OPEC 54,519 54,592 55,092 90,571 91,094 90,800 a. 30 3 b. 2007111 OPEC 20061020 120 / 200721 2007111 2008910 20081231 OPEC c.na 4-1
72 1803 1 0.9%2 1.2% 83 9,008 0.9% 1 OECD 0.8% OECD 1.0% OECD OECD 1 6.9% 0.4% 244 OPEC 3OPEC 82.1 2,933 OPEC 35.2 OPEC 34 10 20 28.4 956.6 OPEC OPEC OPEC 34.1 5,726 OPEC 34.9 0.9 3 20142 CRBDJ-AIG Reuters 304.67134.522,654.92 0.74%0.40%1.49% 3 (1) (2) World Gold Council
1803 73 2014 9001,000 (3) IMF 1 (4) 2013 10 (5) Fed Fed 2014 Fed (6) 2014 (7) 42.0% 11 (8) Barrick Gold Corporation 2013 2014 (9) Anglo American Platinum Ltd., Amplats Impala Platinum Holdings Ltd., Implats Lonmin Plc Association of Mineworkers and Construction Union, AMCU 49.9 2012 35.10 2.70% 1,336.08 0.09-0.43% 41.10 2.91% 44.50 6.11% (1) Norsk Hydro ASA 1.3 20 (2) (3) 2014 2014 2013 110 120 70 (4) 200
74 1803 5-1 RJ/CRB 1967=100 DJ-UBS 1991=100 Reuters 9/18/1931=100 2007 358.71 184.96 2,592.90 2008 229.54 117.24 1,746.52 2009 283.38 139.19 2,321.27 2010 332.80 162.39 3,174.42 2011 305.30 140.68 2,695.51 2012 295.01 139.07 2,974.81 2013 280.17 125.75 2,630.96 201303 296.39 137.48 2,960.82 04 288.13 133.63 2,844.53 05 281.85 130.63 2,832.36 06 275.62 124.47 2,716.87 07 283.94 126.16 2,661.18 08 291.16 130.44 2,672.36 09 285.54 127.11 2,617.03 10 277.86 125.23 2,627.27 11 274.97 124.22 2,646.69 12 280.17 125.75 2,630.96 201401 283.31 126.12 2,560.40 02 302.43 133.98 2,615.96 03 304.67 134.52 2,654.92 % 0.74 0.40 1.49 % 2.79-2.15-10.33 RJ/CRB=Reuters/Jefferies CRB IndexDJ-UBS= Reuters= (5) Wood Mackenzie 2014 6.5 30.0 (6) (7) 2014 (8) ICSG 2013 8.0%1,800 10.32% 15,659.80 1.27% 23,098.30 0.57% 1,703.50 1.03% 2,014.40 2.56% 2,056.40 6.77%
1803 75 6,667.80 22.66% 7.68% 5.38% 1.64% 45.0% 2013/14 1,320 Copersucar 2014/15 5.03%13.76%7.83% 1. 6.75 6.95 USDA 20144 2013/14 2,500 500 31 121 12 2 9 12 3,000 1,000 2013/14 6.75 6.95 2013/14 50 2012/13 2013/14 20 2013/14 170 150 50 30
76 1803 5-2 * 2011/12 198.93 697.04 149.32 146.87 697.08 157.78 198.89 23.47 54.41 3.05 4.42 32.11 28.61 20.21 175.46 642.63 146.27 142.45 664.97 129.18 178.68 31.58 208.88 7.98 65.50 149.54 71.63 27.27 4.11 15.50 0.01 0.10 5.95 12.93 0.74 8.18 29.91 0.12 3.20 6.51 24.66 7.05 7.36 25.29 0.49 4.70 9.85 17.35 5.93 27 11.93 138.18 7.37 57.50 127.23 16.69 13.56 89.45 188.58 80.31 38.28 261.77 7.70 88.88 1.85 5.80 7.34 0.50 11.20 2.04 1.75 59.09 117.40 2.93 24.00 122.50 0.98 55.95 7.78 17.70 16.31 3.93 34.08 1.33 6.39 12.19 18.31 24.90 3.48 40.87 0.44 14.09 3.17 25.00 0.05 0.40 23.10 1.10 4.02 4.00 0.00 17.41 3.98 16.02 0.73 4.66 15.36 86.87 0.02 3.10 81.40 0.89 19.95 23.61 115.03 8.02 27.90 79.87 39.77 27.03 13.74 56.24 0.55 15.50 38.00 21.63 10.90 2.88 22.73 0.01 2.60 7.60 11.84 6.18 3.34 22.32 0.08 6.10 14.95 5.44 5.36 2012/13 198.89 656.50 144.04 136.59 678.79 137.40 176.60 20.21 61.67 3.34 10.57 38.27 27.42 19.54 178.68 594.82 140.70 126.02 640.52 109.98 157.06 27.27 192.84 5.89 59.09 142.03 63.80 20.17 0.74 9.30 0.01 0.30 6.20 3.55 0.29 7.05 22.46 0.14 3.40 6.74 18.66 4.24 5.93 27.21 0.48 4.39 9.59 18.98 5.05 27 13.56 133.88 5.26 51.00 119.50 22.62 10.58 88.88 187.34 79.14 35.29 264.64 6.48 84.25 1.75 4.38 7.36 0.20 10.90 1.58 1.00 55.95 121.02 2.96 25.00 125.00 0.97 53.96 6.39 17.32 20.43 2.75 34.27 0.70 9.16 14.09 17.23 22.16 2.38 41.44 0.61 11.45 4.02 23.30 0.05 0.60 23.90 0.85 2.62 4.66 0.00 15.76 2.94 15.61 0.77 4.05 19.95 94.88 0.02 3.40 83.82 6.82 24.20 27.03 77.35 7.23 20.76 71.40 25.50 14.71 10.90 37.72 1.17 11.90 33.55 11.29 4.95 6.18 9.84 0.01 2.00 6.80 6.29 2.94 5.36 15.76 0.05 3.10 11.40 7.19 2.58 * USDA,WorldAgriculturalSupplyandDemandEstimates,Apr. 9, 2014.