2 1751 Abstract ADB 2012 2011 7.0% 6.0% 2 18% UN Supachai Panitchpakdi OECD 40 2050 Economic growth in the Pacific region is expected to slow to 6.0%

ISSN 1019-2441 1751 501 http://www.cepd.gov.tw 101329 ( ) 1990 12

2 1751 Abstract ADB 2012 2011 7.0% 6.0% 2 18% UN Supachai Panitchpakdi OECD 40 2050 Economic growth in the Pacific region is expected to slow to 6.0% in 2012 from 7.0% in 2011, according to the latest Pacific Economic Monitor released by the Asian Development Bank (ADB). The slowdown is driven by lower growth in large resource-exporting economies that dominate regional growth. Economic troubles in the eurozone will likely have only modest and indirect effects on Pacific economies. Early signs of a rebound in trade in Asia are brightening prospects for the region's export-dependent economies and are evidence that stronger U.S. demand is filtering through to help global growth. Taiwan technology producer reported export orders, rose nearly 18% in February, compared with the year-earlier period.economists see Taiwan as an leading indicator and a proxy for global trade because of its integral role in supplying electronic components to computers, mobile phones and automobiles. The international financial system requires "drastic" reform if future crises are to be avoided, including more regional initiatives to tackle misaligned exchange rates and the wider use of capital controls, the head of a UN agency said. The Secretary General Supachai Panitchpakdi believes many of the flaws in the functioning of the global economy that led to the crisis remain and calls for drastic reform. The OECD Environmental Outlook to 2050 presents the latest projections of socio-economic trends, and their implications for four key areas of concern: climate change, biodiversity, water, and the health impacts of environmental pollution. Despite the recent recession, the global economy is projected to nearly quadruple in 2050. Rising living standards will be accompanied by ever growing demands for energy, food, and natural resources - and more pollution.

1751 3 5 UN 24 4. 112 1. 98 IMF ADB2012 5. 117 UN 2. 102 2020 2,000 6. 122 3. 110 OECD WB 7. 124

4 1751 8. 127 9. 130 11. 149 150 FDI 151 10. 140 FTA 2012

1751 5 1990 FDI 2008 2011 2011 2011 20 trade creation trade diversion 1999 2011 HS

6 1751 1950 2011 2008 20 50 20 60 20 70 70 70

1751 7 20 80 80 20 90 20 90 (1) (2) (3) (4) (5) (6) 1 2 3 4 5 6

8 1751

1751 9 12 HS 97 1999 2011 1. 12 1

10 1751 HS27 5.10 HS71 10 3 HS84 HS85 HS87 3 2. 1990 FDI 2 HS84HS85 HS89HS87 HS90 HS84HS85 HS62 HS64 HS95 HS61 3. 1990 3 5 10 7 7 5 10 6 HS85 2011 35.37% 4.

1751 11 6 3 HS85HS84 HS88 1990 1. 7 12 1999 6.8% 2011 21.7% 12 10 30 6 HS78 HS80 HS79 10 2. 8 10 7 10 6 3 HS60 HS59 HS65 10 HS29 HS90HS85 HS85 3. 9 10 7 10 6 4 HS54HS59 HS58 HS65

12 1751 10 HS89HS90HS87 5 4. 10 7 10 HS961 HS85HS87HS89HS90 10 1999 2011 HS2 1. 2008 2. 2011 8 4 3. 2011 ---

1751 13 2011 10 4. 2011 2011 10

14 1751 1 19992011 10 HS2 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 % 28,809 32,938 30,896 32,065 36,703 44,403 50,078 57,390 66,132 74,489 59,792 74,860 87,496 27 852 1,353 1,273 1,210 1,544 2,030 2,793 3,347 3,919 5,846 3,774 5,063 7,053 71 503 567 534 534 592 717 817 1,007 1,235 1,501 1,256 1,785 2,483 72 413 496 423 475 618 928 1,113 1,309 1,693 2,150 1,216 1,724 2,114 30 395 426 506 607 739 889 993 1,178 1,400 1,550 1,721 1,847 1,963 89 318 332 341 371 398 481 537 671 835 1,122 1,181 1,419 1,567 40 299 325 307 332 394 484 559 676 784 886 715 1,015 1,354 39 837 985 931 1,013 1,173 1,458 1,704 1,925 2,200 2,374 1,993 2,571 2,961 73 420 453 458 485 545 707 872 1,097 1,333 1,622 1,216 1,345 1,653 29 739 845 829 903 1,115 1,386 1,508 1,676 1,916 2,035 1,745 2,148 2,543 74 127 160 131 132 152 229 281 482 542 542 393 550 661 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 27 2.96 4.11 4.12 3.77 4.21 4.57 5.58 5.83 5.93 7.85 6.31 6.76 8.06 5.10 71 1.75 1.72 1.73 1.66 1.61 1.62 1.63 1.75 1.87 2.01 2.10 2.38 2.84 1.09 72 1.43 1.51 1.37 1.48 1.68 2.09 2.22 2.28 2.56 2.89 2.03 2.30 2.42 0.99 30 1.37 1.29 1.64 1.89 2.01 2.00 1.98 2.05 2.12 2.08 2.88 2.47 2.24 0.87 89 1.10 1.01 1.10 1.16 1.08 1.08 1.07 1.17 1.26 1.51 1.98 1.90 1.79 0.69 40 1.04 0.99 0.99 1.04 1.07 1.09 1.12 1.18 1.18 1.19 1.20 1.36 1.55 0.51 39 2.91 2.99 3.01 3.16 3.19 3.28 3.40 3.35 3.33 3.19 3.33 3.43 3.38 0.47 73 1.46 1.37 1.48 1.51 1.49 1.59 1.74 1.91 2.02 2.18 2.03 1.80 1.89 0.43 29 2.56 2.56 2.68 2.82 3.04 3.12 3.01 2.92 2.90 2.73 2.92 2.87 2.91 0.35 74 0.44 0.48 0.42 0.41 0.41 0.52 0.56 0.84 0.82 0.73 0.66 0.74 0.76 0.32 28,809 32,938 30,896 32,065 36,703 44,403 50,078 57,390 66,132 74,489 59,792 74,860 87,496 37 108 120 104 111 122 130 127 128 125 126 109 123 130 54 181 204 180 183 198 223 226 232 251 257 214 267 328 62 375 421 404 414 467 518 580 672 727 792 679 768 903 48 433 481 457 461 502 570 603 661 724 783 669 773 871 98 697 755 751 777 807 909 973 1,250 1,424 1,541 1,285 1,566 1,635 44 362 367 332 345 369 461 483 520 527 491 387 475 540 88 922 859 929 861 880 1,054 1,249 1,331 1,503 1,604 1,529 1,575 1,746 87 2,901 3,103 2,974 3,308 3,739 4,377 4,804 5,331 6,122 6,479 4,270 5,991 7,005 85 5,300 6,609 5,603 5,721 6,632 8,222 9,161 10,365 11,673 12,324 10,328 12,933 14,015 84 5,321 6,085 5,637 5,771 6,525 7,825 8,651 9,698 11,130 12,256 9,788 12,086 13,744 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 37 0.37 0.37 0.34 0.35 0.33 0.29 0.25 0.22 0.19 0.17 0.18 0.16 0.15-0.22 54 0.63 0.62 0.58 0.57 0.54 0.50 0.45 0.40 0.38 0.34 0.36 0.36 0.37-0.26 62 1.30 1.28 1.31 1.29 1.27 1.17 1.16 1.17 1.10 1.06 1.14 1.03 1.03-0.27 48 1.50 1.46 1.48 1.44 1.37 1.28 1.20 1.15 1.09 1.05 1.12 1.03 1.00-0.50 98 2.42 2.29 2.43 2.42 2.20 2.05 1.94 2.18 2.15 2.07 2.15 2.09 1.87-0.55 44 1.26 1.11 1.08 1.07 1.01 1.04 0.96 0.91 0.80 0.66 0.65 0.64 0.62-0.64 88 3.20 2.61 3.01 2.68 2.40 2.37 2.49 2.32 2.27 2.15 2.56 2.10 2.00-1.20 87 10.07 9.42 9.62 10.32 10.19 9.86 9.59 9.29 9.26 8.70 7.14 8.00 8.01-2.06 85 18.40 20.06 18.13 17.84 18.07 18.52 18.29 18.06 17.65 16.54 17.27 17.28 16.02-2.38 84 18.47 18.48 18.25 18.00 17.78 17.62 17.27 16.90 16.83 16.45 16.37 16.15 15.71-2.76

1751 15 2 19992011 10 HS2 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 % 1,952 2,492 2,664 3,256 4,385 5,936 7,623 9,693 12,182 14,289 12,020 15,784 18,993 84 192 268 336 509 834 1,183 1,498 1,867 2,287 2,687 2,360 3,100 3,539 85 330 461 513 652 890 1,297 1,724 2,275 3,003 3,421 3,012 3,889 4,458 89 16 16 19 19 30 32 47 81 123 196 283 403 437 87 27 45 48 58 81 118 166 224 319 393 280 384 496 72 20 36 22 23 34 115 151 252 399 535 135 289 399 90 47 63 65 74 106 163 254 326 370 434 389 522 607 76 8 10 15 23 34 52 61 93 116 142 95 145 187 40 12 16 16 20 26 38 55 74 101 116 107 149 209 73 44 55 60 73 95 138 190 268 367 483 338 392 512 94 54 70 76 99 129 173 224 280 360 428 390 506 594 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 84 9.84 10.76 12.61 15.62 19.02 19.92 19.65 19.26 18.77 18.81 19.63 19.64 18.63 8.79 85 16.89 18.48 19.26 20.01 20.31 21.85 22.62 23.47 24.65 23.94 25.06 24.64 23.47 6.58 89 0.83 0.66 0.72 0.59 0.69 0.53 0.62 0.84 1.01 1.37 2.35 2.55 2.30 1.47 87 1.41 1.82 1.79 1.78 1.85 1.99 2.18 2.31 2.62 2.75 2.33 2.43 2.61 1.20 72 1.05 1.44 0.84 0.71 0.78 1.93 1.98 2.60 3.28 3.74 1.12 1.83 2.10 1.05 90 2.41 2.54 2.42 2.26 2.41 2.74 3.34 3.37 3.04 3.04 3.24 3.30 3.20 0.79 76 0.42 0.41 0.55 0.70 0.77 0.87 0.80 0.96 0.95 1.00 0.79 0.92 0.98 0.56 40 0.60 0.63 0.61 0.61 0.58 0.64 0.72 0.76 0.83 0.81 0.89 0.94 1.10 0.50 73 2.23 2.20 2.26 2.23 2.16 2.32 2.50 2.76 3.01 3.38 2.81 2.48 2.70 0.47 94 2.77 2.82 2.84 3.03 2.94 2.92 2.93 2.88 2.95 2.99 3.24 3.21 3.13 0.36 1,952 2,492 2,664 3,256 4,385 5,936 7,623 9,693 12,182 14,289 12,020 15,784 18,993 10 11 16 10 17 26 7 14 10 20 7 6 5 6 55 23 27 27 25 28 36 44 55 64 69 61 80 112 27 46 78 84 84 111 145 176 178 199 314 204 267 323 91 19 18 16 17 19 21 20 20 24 27 25 30 37 52 33 37 37 49 62 66 74 89 94 107 96 131 155 42 52 66 70 78 95 103 114 124 142 168 151 208 269 61 118 134 135 160 207 258 309 449 613 606 538 667 802 95 77 92 91 116 133 151 191 226 271 327 265 293 343 64 87 99 101 111 130 152 190 218 253 297 280 356 417 62 156 189 190 206 251 290 350 437 473 524 467 544 631 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 10 0.58 0.66 0.39 0.51 0.59 0.12 0.19 0.11 0.16 0.05 0.05 0.03 0.03-0.55 55 1.18 1.09 1.00 0.78 0.64 0.60 0.58 0.57 0.52 0.48 0.50 0.50 0.59-0.59 27 2.38 3.14 3.16 2.57 2.53 2.44 2.31 1.84 1.63 2.20 1.70 1.69 1.70-0.68 91 0.95 0.74 0.60 0.51 0.44 0.35 0.26 0.21 0.20 0.19 0.20 0.19 0.19-0.76 52 1.69 1.50 1.37 1.50 1.42 1.11 0.98 0.92 0.77 0.75 0.80 0.83 0.82-0.87 42 2.68 2.64 2.62 2.40 2.17 1.73 1.50 1.28 1.17 1.18 1.26 1.32 1.42-1.26 61 6.03 5.39 5.05 4.91 4.72 4.35 4.05 4.63 5.04 4.24 4.47 4.23 4.22-1.81 95 3.95 3.69 3.41 3.56 3.03 2.54 2.51 2.34 2.22 2.29 2.20 1.86 1.81-2.14 64 4.45 3.97 3.79 3.41 2.96 2.56 2.50 2.25 2.08 2.08 2.33 2.26 2.20-2.25 62 7.98 7.57 7.12 6.32 5.72 4.88 4.60 4.51 3.89 3.67 3.89 3.44 3.32-4.66

16 1751 3 19992011 10 HS2 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 % 1,213 1,476 1,224 1,306 1,441 1,743 1,890 2,130 2,347 2,432 1,938 2,620 2,915 85 309 429 337 375 440 561 626 754 821 804 696 959 1,031 90 25 36 30 42 71 112 133 172 188 206 152 226 225 27 10 16 18 21 33 55 88 108 135 180 111 136 163 29 8 12 15 18 26 41 56 59 89 105 81 112 132 39 65 79 69 77 87 110 127 138 165 170 144 194 216 71 2 1 1 1 1 1 2 6 8 18 25 28 47 72 33 42 35 43 54 71 81 92 110 114 79 100 117 38 7 9 8 9 10 12 15 19 20 22 19 30 32 74 12 14 12 13 14 21 25 40 45 40 27 38 41 28 2 3 3 3 3 4 6 8 10 13 9 12 15 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 85 25.46 29.05 27.54 28.71 30.52 32.16 33.15 35.39 34.97 33.04 35.93 36.61 35.37 9.91 90 2.09 2.46 2.43 3.24 4.94 6.42 7.02 8.09 7.99 8.49 7.85 8.62 7.73 5.64 27 0.82 1.12 1.46 1.64 2.32 3.13 4.67 5.06 5.75 7.40 5.73 5.18 5.58 4.76 29 0.68 0.80 1.22 1.40 1.80 2.36 2.96 2.76 3.78 4.33 4.16 4.28 4.54 3.86 39 5.36 5.36 5.66 5.87 6.01 6.31 6.74 6.46 7.03 6.98 7.45 7.40 7.40 2.04 71 0.13 0.10 0.09 0.07 0.08 0.08 0.10 0.27 0.35 0.72 1.31 1.08 1.62 1.49 72 2.71 2.86 2.84 3.28 3.78 4.10 4.28 4.30 4.68 4.68 4.06 3.83 4.02 1.31 38 0.55 0.59 0.65 0.66 0.68 0.71 0.78 0.89 0.85 0.88 1.00 1.13 1.09 0.54 74 1.03 0.98 0.95 1.01 0.98 1.21 1.32 1.86 1.91 1.64 1.38 1.46 1.39 0.36 28 0.19 0.18 0.22 0.21 0.22 0.24 0.29 0.36 0.43 0.53 0.48 0.44 0.52 0.33 1,213 1,476 1,224 1,306 1,441 1,743 1,890 2,130 2,347 2,432 1,938 2,620 2,915 87 45 49 39 41 49 59 63 62 68 74 63 79 90 62 10 11 8 7 7 7 5 4 3 3 2 2 2 95 18 22 17 17 17 18 18 17 18 18 15 19 20 55 17 19 15 15 16 18 17 17 17 14 13 16 17 59 18 19 16 16 15 16 15 14 13 13 11 14 15 61 16 16 13 12 11 10 8 8 7 6 5 5 5 94 22 22 16 15 15 16 16 16 16 16 13 16 19 54 33 38 32 32 32 36 35 36 36 33 28 35 40 60 28 28 22 22 20 20 19 20 20 20 17 21 24 84 331 393 329 331 313 320 281 277 270 254 182 264 297 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 87 3.74 3.29 3.18 3.16 3.41 3.38 3.33 2.91 2.88 3.03 3.23 3.00 3.08-0.66 62 0.80 0.72 0.69 0.54 0.48 0.39 0.25 0.17 0.14 0.12 0.11 0.09 0.08-0.72 95 1.46 1.49 1.41 1.32 1.20 1.06 0.94 0.81 0.77 0.73 0.77 0.72 0.69-0.77 55 1.37 1.27 1.19 1.12 1.08 1.02 0.90 0.81 0.71 0.57 0.69 0.61 0.59-0.78 59 1.52 1.30 1.34 1.21 1.04 0.91 0.79 0.64 0.57 0.54 0.57 0.52 0.50-1.02 61 1.28 1.05 1.06 0.91 0.79 0.57 0.44 0.37 0.30 0.27 0.25 0.21 0.18-1.10 94 1.80 1.48 1.32 1.13 1.03 0.90 0.82 0.73 0.68 0.67 0.66 0.62 0.64-1.16 54 2.68 2.57 2.64 2.42 2.23 2.04 1.84 1.67 1.52 1.36 1.46 1.34 1.37-1.31 60 2.29 1.87 1.79 1.65 1.37 1.13 0.99 0.92 0.86 0.81 0.87 0.79 0.84-1.45 84 27.31 26.61 26.87 25.38 21.74 18.33 14.88 13.02 11.49 10.46 9.41 10.06 10.20-17.11

1751 17 4 19992011 10 HS2 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 % 1,437 1,723 1,504 1,625 1,938 2,538 2,844 3,255 3,715 4,220 3,635 4,664 5,565 27 58 94 80 66 69 105 157 209 246 385 238 326 531 89 75 82 97 107 111 153 172 215 266 410 425 467 541 90 36 19 18 18 31 58 119 185 241 286 293 378 365 87 131 153 154 173 230 321 375 426 492 483 365 534 671 29 35 50 42 46 58 87 105 127 152 158 131 168 225 72 53 60 51 51 71 106 128 140 164 213 155 218 282 39 60 73 66 73 90 119 143 154 177 202 184 240 283 28 4 5 5 4 5 7 8 10 12 23 20 29 42 73 25 25 23 24 26 33 44 59 70 91 80 77 117 38 5 6 6 7 8 10 12 15 19 22 19 28 36 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 27 4.04 5.44 5.32 4.03 3.56 4.15 5.52 6.43 6.63 9.11 6.54 6.99 9.54 5.50 89 5.21 4.78 6.45 6.57 5.73 6.04 6.06 6.60 7.17 9.71 11.69 10.02 9.72 4.51 90 2.53 1.10 1.20 1.09 1.59 2.27 4.19 5.70 6.50 6.77 8.05 8.11 6.56 4.03 87 9.15 8.86 10.24 10.63 11.88 12.65 13.18 13.09 13.23 11.45 10.05 11.46 12.06 2.91 29 2.45 2.88 2.77 2.82 3.02 3.45 3.71 3.91 4.08 3.74 3.60 3.61 4.04 1.59 72 3.66 3.46 3.39 3.12 3.68 4.17 4.50 4.30 4.43 5.06 4.25 4.66 5.06 1.40 39 4.16 4.23 4.41 4.50 4.63 4.69 5.01 4.73 4.77 4.79 5.05 5.14 5.08 0.92 28 0.25 0.26 0.30 0.27 0.28 0.26 0.27 0.30 0.33 0.54 0.56 0.62 0.76 0.51 73 1.72 1.43 1.51 1.50 1.33 1.31 1.56 1.81 1.89 2.15 2.21 1.65 2.10 0.38 38 0.33 0.34 0.40 0.43 0.42 0.39 0.43 0.47 0.50 0.51 0.53 0.61 0.64 0.31 1,437 1,723 1,504 1,625 1,938 2,538 2,844 3,255 3,715 4,220 3,635 4,664 5,565 41 12 14 12 11 10 10 9 8 9 9 7 8 9 48 18 20 17 17 19 22 22 23 24 26 23 28 32 59 14 17 14 13 13 13 12 12 12 13 10 13 14 60 22 25 25 27 28 28 27 29 32 33 32 37 42 62 21 21 17 16 15 14 10 8 7 7 6 7 8 71 36 23 19 17 34 41 12 19 19 27 41 45 63 61 24 24 22 20 19 17 14 12 10 9 7 8 9 84 186 297 236 277 318 394 386 423 434 455 382 520 598 54 46 48 38 37 35 34 30 27 29 29 25 30 35 85 384 464 378 439 551 732 805 856 974 983 888 1,108 1,186 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 41 0.82 0.79 0.83 0.69 0.53 0.39 0.30 0.26 0.23 0.20 0.19 0.17 0.15-0.67 48 1.26 1.14 1.13 1.04 0.98 0.88 0.79 0.69 0.64 0.62 0.63 0.59 0.58-0.68 59 1.00 0.96 0.93 0.80 0.66 0.52 0.43 0.36 0.33 0.30 0.28 0.27 0.25-0.75 60 1.51 1.46 1.65 1.66 1.42 1.09 0.95 0.89 0.85 0.77 0.87 0.79 0.76-0.75 62 1.46 1.25 1.16 1.00 0.76 0.55 0.34 0.25 0.20 0.16 0.16 0.14 0.14-1.32 71 2.51 1.35 1.26 1.05 1.74 1.63 0.42 0.59 0.50 0.63 1.13 0.97 1.14-1.37 61 1.67 1.39 1.44 1.24 0.97 0.68 0.48 0.36 0.27 0.21 0.19 0.17 0.16-1.51 84 12.93 17.26 15.66 17.07 16.38 15.52 13.56 13.00 11.69 10.78 10.51 11.16 10.74-2.19 54 3.21 2.79 2.55 2.26 1.81 1.33 1.07 0.84 0.77 0.69 0.69 0.65 0.63-2.58 85 26.71 26.92 25.14 27.04 28.40 28.82 28.30 26.29 26.22 23.30 24.42 23.75 21.31-5.40

18 1751 5 19992011 10 HS2 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 % 4,201 4,791 4,032 4,172 4,719 5,662 5,953 6,464 7,141 7,820 5,805 7,700 8,237 72 114 130 111 132 158 212 245 260 301 393 284 388 421 71 17 19 17 16 22 25 30 55 68 98 81 118 174 27 12 15 15 14 16 23 44 59 93 186 105 130 161 98 133 168 161 171 193 237 261 303 356 369 343 402 397 39 98 112 93 105 122 154 174 196 220 238 217 292 303 89 100 103 85 92 98 122 119 140 155 200 221 259 260 38 40 51 42 47 54 69 80 96 112 117 86 122 132 74 22 26 22 23 24 32 39 64 80 81 64 90 93 73 54 54 57 58 62 77 94 110 121 138 105 123 143 29 109 119 108 115 135 165 179 186 208 202 188 221 246 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 72 2.72 2.70 2.76 3.16 3.34 3.75 4.11 4.02 4.22 5.02 4.89 5.04 5.12 2.40 71 0.40 0.41 0.42 0.39 0.46 0.44 0.50 0.85 0.95 1.25 1.39 1.53 2.11 1.71 27 0.29 0.32 0.37 0.34 0.33 0.40 0.74 0.91 1.30 2.38 1.80 1.69 1.95 1.66 98 3.17 3.51 3.99 4.09 4.08 4.18 4.39 4.68 4.99 4.72 5.90 5.21 4.82 1.65 39 2.32 2.34 2.32 2.52 2.58 2.72 2.93 3.04 3.09 3.05 3.74 3.80 3.68 1.36 89 2.38 2.15 2.10 2.20 2.07 2.16 1.99 2.17 2.17 2.55 3.81 3.36 3.15 0.77 38 0.96 1.06 1.05 1.13 1.14 1.21 1.34 1.49 1.57 1.49 1.48 1.58 1.60 0.64 74 0.53 0.54 0.56 0.54 0.51 0.57 0.65 0.99 1.12 1.04 1.11 1.17 1.13 0.60 73 1.29 1.13 1.41 1.40 1.32 1.36 1.58 1.71 1.69 1.76 1.81 1.60 1.73 0.44 29 2.59 2.48 2.68 2.76 2.85 2.92 3.00 2.87 2.91 2.59 3.25 2.87 2.99 0.40 4,201 4,791 4,032 4,172 4,719 5,662 5,953 6,464 7,141 7,820 5,805 7,700 8,237 48 24 26 20 23 23 27 25 26 27 31 25 34 32 91 15 14 10 10 10 11 10 9 9 10 7 11 13 96 19 20 16 15 15 17 16 16 17 18 15 18 20 54 25 26 23 21 21 22 21 21 22 23 18 22 26 37 38 40 36 38 41 46 47 47 47 46 39 47 50 84 888 1,020 834 843 946 1,156 1,197 1,259 1,392 1,514 1,020 1,503 1,712 95 48 32 25 26 18 20 34 28 39 36 24 23 26 90 271 336 277 231 276 364 360 354 326 343 286 397 456 87 840 893 818 941 1,042 1,181 1,252 1,416 1,603 1,723 1,029 1,469 1,486 85 978 1,202 904 900 1,043 1,231 1,222 1,280 1,350 1,386 1,073 1,314 1,296 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 48 0.56 0.54 0.50 0.54 0.50 0.47 0.43 0.40 0.38 0.40 0.44 0.44 0.39-0.17 91 0.35 0.29 0.26 0.24 0.22 0.19 0.16 0.15 0.13 0.12 0.13 0.14 0.15-0.20 96 0.45 0.42 0.39 0.36 0.33 0.30 0.27 0.25 0.23 0.23 0.26 0.23 0.25-0.20 54 0.60 0.53 0.56 0.49 0.45 0.39 0.35 0.33 0.30 0.29 0.32 0.29 0.31-0.29 37 0.90 0.83 0.89 0.90 0.87 0.81 0.79 0.73 0.66 0.59 0.67 0.61 0.60-0.30 84 21.15 21.29 20.69 20.21 20.05 20.42 20.11 19.48 19.50 19.37 17.57 19.51 20.79-0.36 95 1.14 0.67 0.62 0.61 0.39 0.35 0.57 0.43 0.54 0.46 0.41 0.30 0.31-0.83 90 6.46 7.02 6.87 5.54 5.85 6.43 6.04 5.48 4.57 4.39 4.93 5.15 5.54-0.92 87 20.01 18.65 20.28 22.55 22.08 20.86 21.03 21.91 22.45 22.03 17.72 19.07 18.04-1.97 85 23.28 25.09 22.43 21.57 22.11 21.74 20.53 19.79 18.90 17.73 18.48 17.06 15.74-7.54

1751 19 6 19992011 10 HS2 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 % 6,928 7,804 7,291 6,931 7,248 8,149 9,011 10,260 11,482 12,874 10,560 12,783 14,806 27 100 134 128 117 142 191 267 349 422 769 551 815 1,295 71 127 154 147 135 152 181 221 316 406 512 386 521 726 30 89 105 125 131 159 196 217 253 292 342 407 408 388 72 42 52 50 50 66 90 114 126 171 238 154 198 253 12 60 68 69 75 97 87 84 91 127 186 195 219 212 29 177 210 191 194 232 304 308 338 379 381 310 409 456 39 238 281 265 272 289 338 383 428 480 514 429 536 586 10 103 97 96 103 106 131 114 135 211 289 174 201 283 52 25 38 40 40 52 64 59 65 64 66 49 76 111 74 19 34 21 21 25 34 39 66 72 72 51 79 96 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 27 1.44 1.72 1.75 1.69 1.95 2.34 2.96 3.40 3.68 5.98 5.21 6.38 8.75 7.31 71 1.83 1.97 2.01 1.95 2.10 2.22 2.45 3.08 3.53 3.97 3.66 4.08 4.91 3.08 30 1.29 1.35 1.71 1.89 2.20 2.41 2.41 2.47 2.55 2.66 3.85 3.19 2.62 1.33 72 0.61 0.67 0.68 0.72 0.92 1.10 1.27 1.23 1.49 1.85 1.46 1.55 1.71 1.10 12 0.87 0.88 0.94 1.08 1.33 1.06 0.93 0.89 1.10 1.44 1.85 1.71 1.43 0.56 29 2.55 2.69 2.62 2.80 3.21 3.73 3.42 3.30 3.30 2.96 2.94 3.20 3.08 0.53 39 3.43 3.61 3.64 3.92 3.99 4.15 4.25 4.17 4.18 3.99 4.06 4.19 3.96 0.53 10 1.49 1.25 1.32 1.48 1.47 1.61 1.27 1.31 1.84 2.25 1.65 1.57 1.91 0.42 52 0.36 0.48 0.55 0.57 0.72 0.78 0.66 0.63 0.55 0.51 0.46 0.59 0.75 0.39 74 0.27 0.44 0.29 0.30 0.34 0.42 0.43 0.64 0.63 0.56 0.48 0.62 0.65 0.38 6,928 7,804 7,291 6,931 7,248 8,149 9,011 10,260 11,482 12,874 10,560 12,783 14,806 98 214 235 233 220 219 232 251 280 314 353 295 404 414 44 61 63 53 51 52 59 61 66 68 68 55 71 79 87 586 619 591 628 656 739 837 923 1,072 1,117 737 991 1,197 48 105 116 109 103 106 115 124 132 144 156 137 158 169 62 37 35 26 24 21 19 18 17 16 17 16 18 21 61 41 46 39 32 30 27 26 25 21 20 20 22 23 24 52 53 40 30 29 27 23 25 24 21 17 17 17 88 496 410 447 439 408 536 635 753 839 844 830 797 875 84 1,373 1,589 1,448 1,302 1,310 1,359 1,509 1,654 1,793 1,906 1,532 1,829 2,052 85 1,216 1,483 1,225 1,106 1,128 1,246 1,289 1,452 1,478 1,525 1,248 1,517 1,589 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 98 3.09 3.01 3.20 3.17 3.02 2.84 2.79 2.73 2.73 2.74 2.79 3.16 2.80-0.29 44 0.88 0.81 0.72 0.74 0.72 0.72 0.68 0.64 0.60 0.53 0.52 0.55 0.53-0.35 87 8.45 7.94 8.11 9.06 9.05 9.07 9.29 9.00 9.34 8.68 6.98 7.75 8.09-0.36 48 1.51 1.49 1.49 1.49 1.47 1.41 1.37 1.29 1.25 1.21 1.30 1.23 1.14-0.37 62 0.53 0.45 0.35 0.34 0.29 0.23 0.20 0.17 0.14 0.13 0.15 0.14 0.14-0.39 61 0.59 0.59 0.53 0.47 0.42 0.33 0.29 0.24 0.18 0.16 0.19 0.17 0.16-0.43 24 0.75 0.68 0.55 0.44 0.40 0.33 0.26 0.24 0.21 0.16 0.16 0.13 0.11-0.64 88 7.16 5.25 6.13 6.33 5.63 6.58 7.05 7.34 7.31 6.55 7.86 6.23 5.91-1.25 84 19.82 20.36 19.85 18.78 18.08 16.68 16.75 16.12 15.62 14.81 14.50 14.31 13.86-5.96 85 17.55 19.00 16.81 15.96 15.56 15.29 14.31 14.15 12.87 11.84 11.82 11.87 10.73-6.82

20 1751 7 19992011 10 HS2 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 % 1,952 2,492 2,664 3,256 4,385 5,936 7,623 9,693 12,182 14,289 12,020 15,784 18,993 58 6 7 8 12 16 20 27 34 47 54 35 38 46 61 118 134 135 160 207 258 309 449 613 606 538 667 802 59 3 4 4 6 8 12 18 21 28 39 40 56 73 65 5 6 6 7 9 12 14 17 20 23 22 28 35 94 54 70 76 99 129 173 224 280 360 428 390 506 594 54 8 13 16 24 38 52 59 66 78 88 75 101 138 60 10 13 14 20 25 30 37 46 57 64 64 87 107 96 14 16 17 19 23 31 39 46 60 75 69 87 102 63 29 35 37 44 62 78 103 121 136 167 168 198 227 69 17 19 18 23 30 39 50 63 66 80 81 111 141 6.77 7.57 8.62 10.16 11.95 13.37 15.22 16.89 18.42 19.18 20.10 21.09 21.71 14.94 58 15.66 16.74 18.31 23.78 29.49 33.14 40.10 45.42 55.31 59.47 54.55 53.05 56.38 40.72 61 38.70 40.35 42.01 47.59 53.65 58.51 62.98 70.03 75.90 74.84 75.61 78.33 78.82 40.12 59 3.65 5.06 6.13 8.24 10.04 13.46 18.09 20.85 24.70 30.31 35.21 38.50 42.41 38.76 65 34.54 36.09 37.88 43.70 48.33 50.78 57.89 61.03 62.38 64.69 68.16 71.04 73.24 38.70 94 15.71 18.23 20.35 24.61 28.48 32.26 36.69 40.12 43.48 46.16 50.34 53.61 54.38 38.67 54 4.60 6.50 9.05 13.25 18.99 23.17 26.13 28.42 31.06 34.15 35.03 37.75 42.17 37.57 60 11.24 13.30 14.87 19.76 22.34 24.57 28.54 32.98 36.39 38.80 43.20 46.72 48.70 37.46 96 16.68 17.88 20.74 23.22 25.88 30.32 35.01 37.46 42.25 47.09 49.57 51.46 53.32 36.64 63 39.61 42.80 45.26 49.16 56.26 59.94 65.38 67.06 67.37 70.20 71.92 73.86 74.16 34.55 69 17.58 18.18 17.59 21.71 24.59 27.46 32.49 35.04 33.21 36.42 43.73 48.61 51.47 33.89 1,952 2,492 2,664 3,256 4,385 5,936 7,623 9,693 12,182 14,289 12,020 15,784 18,993 41 4 5 9 10 11 14 16 18 12 4 2 4 5 12 8 9 9 9 11 12 14 13 16 20 18 20 23 02 7 8 8 7 6 7 7 7 7 8 8 10 11 01 4 4 3 3 3 3 3 3 4 5 4 5 6 14 0 0 0 0 0 0 0 1 1 1 1 1 1 36 3 3 3 3 4 4 5 5 6 6 7 7 8 10 11 16 10 17 26 7 14 10 20 7 6 5 6 79 6 7 6 5 5 4 4 14 13 4 2 3 3 80 4 5 3 2 2 3 2 2 4 2 1 2 2 78 2 2 2 2 2 4 5 7 7 3 1 2 2 6.77 7.57 8.62 10.16 11.95 13.37 15.22 16.89 18.42 19.18 20.10 21.09 21.71 14.94 41 4.80 5.96 9.52 10.49 11.84 13.25 14.93 15.53 10.13 3.84 3.12 3.99 3.83-0.97 12 8.02 8.41 8.72 8.52 8.04 8.77 10.12 8.72 7.84 6.91 6.35 6.26 6.80-1.22 02 5.15 5.25 5.80 4.98 4.50 5.15 4.85 4.78 4.05 3.28 3.56 3.92 3.30-1.85 01 11.95 10.81 9.09 9.18 10.16 11.52 8.79 7.66 7.27 9.21 9.47 8.81 9.31-2.64 14 27.39 26.95 30.45 30.73 30.37 25.97 34.28 31.56 27.61 28.80 20.29 16.60 23.69-3.70 36 34.30 28.27 30.58 31.80 28.46 27.56 29.30 29.92 30.52 29.29 32.26 27.42 29.55-4.75 10 5.98 8.70 5.62 9.09 12.67 3.37 6.83 4.33 5.36 1.28 1.77 1.40 1.19-4.79 79 24.08 26.67 27.98 23.91 24.03 15.24 13.07 22.61 18.60 8.70 6.56 6.25 5.89-18.19 80 27.36 34.15 26.65 16.83 16.39 14.61 8.71 8.94 11.70 4.59 2.16 3.77 2.67-24.69 78 33.79 30.22 38.19 37.58 33.74 40.58 40.02 42.65 30.55 12.44 6.19 7.15 5.84-27.95

1751 21 8 19992011 10 HS2 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 % 1,213 1,476 1,224 1,306 1,441 1,743 1,890 2,130 2,347 2,432 1,938 2,620 2,915 29 8 12 15 18 26 41 56 59 89 105 81 112 132 90 25 36 30 42 71 112 133 172 188 206 152 226 225 37 1 1 1 1 1 1 2 2 2 2 2 3 3 71 2 1 1 1 1 1 2 6 8 18 25 28 47 80 0 0 0 0 0 1 1 1 2 2 1 2 3 06 0 1 1 1 1 1 1 1 1 1 1 2 2 85 309 429 337 375 440 561 626 754 821 804 696 959 1,031 78 0 0 0 0 0 0 0 0 1 1 1 1 1 27 10 16 18 21 33 55 88 108 135 180 111 136 163 70 6 7 6 7 7 9 9 11 11 11 11 16 22 4.21 4.48 3.96 4.07 3.92 3.93 3.77 3.71 3.55 3.27 3.24 3.50 3.33-0.88 29 1.12 1.40 1.81 2.03 2.32 2.97 3.71 3.51 4.63 5.17 4.62 5.22 5.21 4.09 90 2.24 2.73 2.32 3.34 4.73 5.82 6.08 6.88 6.97 6.96 5.69 6.82 6.16 3.92 37 0.58 0.65 0.63 0.73 0.71 1.02 1.64 1.67 1.77 1.82 2.14 2.32 2.34 1.76 71 0.30 0.25 0.20 0.17 0.18 0.19 0.23 0.57 0.66 1.17 2.01 1.58 1.91 1.61 80 2.25 2.23 2.54 2.69 2.80 2.65 2.93 4.01 4.66 4.41 4.57 4.53 3.85 1.60 06 2.68 2.85 2.76 2.75 2.71 2.47 2.58 2.48 2.93 2.77 3.21 3.95 4.26 1.58 85 5.83 6.49 6.02 6.55 6.63 6.82 6.84 7.27 7.03 6.52 6.74 7.42 7.36 1.53 78 2.19 2.99 3.08 3.51 2.76 3.59 3.17 2.87 4.21 4.92 3.18 3.30 3.52 1.33 27 1.17 1.22 1.40 1.77 2.16 2.69 3.16 3.22 3.44 3.08 2.94 2.68 2.30 1.13 70 4.46 4.62 4.13 4.24 4.05 4.20 4.01 4.06 3.71 3.52 4.03 4.46 5.40 0.94 1,213 1,476 1,224 1,306 1,441 1,743 1,890 2,130 2,347 2,432 1,938 2,620 2,915 83 10 10 9 9 9 11 11 12 13 13 10 13 15 58 5 6 5 5 5 5 6 6 6 6 5 6 6 54 33 38 32 32 32 36 35 36 36 33 28 35 40 41 9 9 8 8 8 8 8 8 8 8 6 7 7 55 17 19 15 15 16 18 17 17 17 14 13 16 17 96 8 8 6 6 6 6 6 6 6 6 5 6 6 66 1 1 1 0 0 0 0 0 0 0 0 0 0 65 2 2 2 2 2 2 1 1 1 1 1 1 1 59 18 19 16 16 15 16 15 14 13 13 11 14 15 60 28 28 22 22 20 20 19 20 20 20 17 21 24 4.21 4.48 3.96 4.07 3.92 3.93 3.77 3.71 3.55 3.27 3.24 3.50 3.33-0.88 83 9.86 9.23 8.17 7.57 6.68 6.59 6.16 5.70 5.14 4.80 4.63 4.82 4.78-5.08 58 13.44 13.04 11.81 10.49 9.93 9.18 8.67 8.13 6.77 6.42 7.51 8.27 7.98-5.46 54 17.93 18.60 18.01 17.25 16.29 15.99 15.43 15.35 14.25 12.91 13.25 13.08 12.22-5.71 41 11.84 9.75 8.30 8.89 8.19 7.83 7.77 7.00 7.14 7.99 8.12 7.19 6.12-5.72 55 12.57 13.03 11.35 11.46 11.41 11.15 9.97 9.41 8.24 6.81 7.47 7.01 6.08-6.49 96 10.13 9.54 7.97 7.19 6.41 5.86 5.15 4.87 4.20 3.83 3.63 3.72 3.38-6.75 66 9.65 8.44 6.90 4.83 3.97 2.97 2.21 1.60 1.19 1.05 0.89 0.92 0.90-8.75 65 14.59 14.31 12.26 10.07 8.83 7.57 5.51 4.58 3.78 3.31 2.97 2.87 2.66-11.93 59 25.59 24.51 22.39 20.87 18.26 17.28 15.37 13.29 11.58 10.29 9.77 9.34 8.54-17.05 60 31.94 28.49 23.88 21.25 17.54 16.21 14.55 13.99 12.86 12.06 11.28 11.16 11.13-20.81

22 1751 9 19992011 10 HS2 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 % 1,437 1,723 1,504 1,625 1,938 2,538 2,844 3,255 3,715 4,220 3,635 4,664 5,565 79 2 2 2 3 3 4 5 10 12 9 7 9 11 78 0 0 0 0 0 1 1 1 1 2 2 3 4 89 75 82 97 107 111 153 172 215 266 410 425 467 541 90 36 19 18 18 31 58 119 185 241 286 293 378 365 87 131 153 154 173 230 321 375 426 492 483 365 534 671 24 1 1 1 2 3 3 3 4 5 5 5 6 6 29 35 50 42 46 58 87 105 127 152 158 131 168 225 28 4 5 5 4 5 7 8 10 12 23 20 29 42 81 0 0 0 0 0 1 1 2 3 3 2 3 4 39 60 73 66 73 90 119 143 154 177 202 184 240 283 4.99 5.23 4.87 5.07 5.28 5.72 5.68 5.67 5.62 5.67 6.08 6.23 6.36 1.37 79 7.69 9.07 10.71 12.47 15.14 15.97 15.95 15.63 17.02 19.42 18.97 19.33 22.42 14.73 78 2.80 2.77 3.64 5.87 5.18 5.14 5.23 3.61 4.86 6.93 11.54 10.55 15.78 12.98 89 23.58 24.81 28.48 28.78 27.91 31.87 32.10 32.02 31.89 36.53 35.97 32.93 34.51 10.93 90 3.21 1.43 1.41 1.39 2.05 3.00 5.46 7.40 8.97 9.62 10.94 11.43 9.98 6.77 87 4.53 4.92 5.18 5.22 6.16 7.34 7.80 7.99 8.03 7.46 8.55 8.92 9.58 5.05 24 0.67 0.91 1.55 2.60 3.61 3.53 3.40 3.47 4.78 4.78 4.95 5.34 4.96 4.29 29 4.77 5.88 5.02 5.07 5.25 6.31 6.99 7.60 7.92 7.76 7.51 7.83 8.84 4.07 28 2.14 2.38 2.38 2.33 2.54 2.51 2.37 2.51 2.53 3.79 4.79 5.31 6.15 4.01 81 0.57 0.78 0.76 0.91 0.63 0.80 1.77 2.23 3.18 2.57 2.66 2.73 3.67 3.10 39 7.14 7.39 7.13 7.22 7.65 8.16 8.37 7.99 8.06 8.52 9.21 9.32 9.55 2.41 1,437 1,723 1,504 1,625 1,938 2,538 2,844 3,255 3,715 4,220 3,635 4,664 5,565 56 5 5 4 5 5 5 6 7 7 7 5 7 7 60 22 25 25 27 28 28 27 29 32 33 32 37 42 92 3 3 2 2 2 3 2 2 2 2 1 2 2 61 24 24 22 20 19 17 14 12 10 9 7 8 9 50 2 2 1 1 1 1 1 1 1 1 1 1 1 41 12 14 12 11 10 10 9 8 9 9 7 8 9 65 2 2 2 2 2 2 2 2 1 1 1 1 1 58 7 8 8 8 8 7 8 7 6 5 5 5 5 59 14 17 14 13 13 13 12 12 12 13 10 13 14 54 46 48 38 37 35 34 30 27 29 29 25 30 35 4.99 5.23 4.87 5.07 5.28 5.72 5.68 5.67 5.62 5.67 6.08 6.23 6.36 1.37 56 11.04 11.01 10.20 10.00 9.19 8.67 8.55 8.31 7.85 6.87 6.38 6.25 6.03-5.01 60 24.96 26.05 27.08 26.59 24.57 22.65 21.01 20.61 20.06 19.90 21.24 19.93 19.27-5.69 92 8.93 9.32 7.81 7.68 7.13 6.96 6.03 5.07 4.38 3.86 3.15 3.44 3.08-5.85 61 7.87 7.22 6.76 6.02 4.89 3.91 2.79 1.83 1.24 1.12 0.97 0.94 0.85-7.02 50 11.67 10.43 9.09 9.37 8.05 7.94 6.88 6.10 5.29 5.44 4.85 4.18 4.47-7.20 41 15.66 14.92 13.17 12.20 10.49 9.35 8.23 7.36 7.36 8.18 8.86 7.78 7.26-8.40 65 12.39 13.29 14.08 12.10 10.23 9.15 7.03 5.54 4.43 3.83 3.09 2.56 2.63-9.76 58 17.56 19.03 17.49 15.60 14.23 12.31 11.16 9.41 6.83 5.86 7.08 7.37 6.34-11.22 59 19.91 21.12 19.05 17.14 15.43 14.32 12.65 11.61 10.59 9.98 9.05 8.75 8.10-11.81 54 25.43 23.53 21.37 19.99 17.75 15.16 13.51 11.77 11.47 11.43 11.68 11.25 10.75-14.68

1751 23 10 19992011 10 HS2 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 % 4,201 4,791 4,032 4,172 4,719 5,662 5,953 6,464 7,141 7,820 5,805 7,700 8,237 98 133 168 161 171 193 237 261 303 356 369 343 402 397 47 1 1 1 2 3 4 5 6 7 8 8 11 13 71 17 19 17 16 22 25 30 55 68 98 81 118 174 78 0 0 0 0 0 0 0 0 1 1 1 1 1 37 38 40 36 38 41 46 47 47 47 46 39 47 50 06 0 0 0 0 0 0 0 0 0 1 1 1 1 79 1 1 1 1 1 1 1 3 4 3 3 3 3 70 21 27 23 24 28 35 38 39 41 47 45 65 67 25 3 3 3 3 4 4 5 5 6 9 6 7 8 27 12 15 15 14 16 23 44 59 93 186 105 130 161 14.58 14.54 13.05 13.01 12.86 12.75 11.89 11.26 10.80 10.50 9.71 10.29 9.41-5.17 98 19.13 22.29 21.40 21.94 23.86 26.05 26.87 24.21 25.03 23.95 26.67 25.63 24.26 5.13 47 0.59 0.94 1.33 1.96 2.52 3.14 3.70 3.54 3.83 3.96 4.67 4.97 4.80 4.21 71 3.34 3.42 3.18 3.06 3.64 3.48 3.68 5.46 5.49 6.53 6.43 6.59 6.99 3.65 78 1.62 1.63 1.30 3.06 2.59 2.56 1.97 1.58 4.00 4.37 6.84 5.94 5.21 3.59 37 35.13 33.06 34.46 33.86 33.77 35.33 36.92 36.67 37.37 36.72 35.67 38.00 37.99 2.86 06 0.62 0.56 0.48 0.53 0.53 0.62 0.66 0.80 1.34 1.48 1.54 1.97 2.13 1.51 79 4.52 3.54 4.11 5.16 4.06 3.92 3.93 5.01 4.87 6.07 8.59 6.56 5.78 1.26 70 15.53 17.09 15.05 14.95 15.35 15.99 16.24 15.11 14.02 14.42 16.38 18.53 16.72 1.19 25 4.60 4.47 4.16 4.54 5.12 5.26 4.99 4.69 4.65 5.24 5.80 5.36 5.46 0.86 27 1.45 1.12 1.19 1.16 1.01 1.13 1.57 1.76 2.37 3.19 2.77 2.57 2.28 0.83 4,201 4,791 4,032 4,172 4,719 5,662 5,953 6,464 7,141 7,820 5,805 7,700 8,237 72 114 130 111 132 158 212 245 260 301 393 284 388 421 87 840 893 818 941 1,042 1,181 1,252 1,416 1,603 1,723 1,029 1,469 1,486 40 61 61 54 60 69 79 86 92 104 117 97 128 150 85 978 1,202 904 900 1,043 1,231 1,222 1,280 1,350 1,386 1,073 1,314 1,296 90 271 336 277 231 276 364 360 354 326 343 286 397 456 91 15 14 10 10 10 11 10 9 9 10 7 11 13 96 19 20 16 15 15 17 16 16 17 18 15 18 20 89 100 103 85 92 98 122 119 140 155 200 221 259 260 92 9 9 7 6 6 7 7 6 7 8 6 7 8 95 48 32 25 26 18 20 34 28 39 36 24 23 26 14.58 14.54 13.05 13.01 12.86 12.75 11.89 11.26 10.80 10.50 9.71 10.29 9.41-5.17 72 27.69 26.12 26.36 27.79 25.47 22.88 21.97 19.83 17.78 18.26 23.36 22.54 19.93-7.76 87 28.97 28.79 27.51 28.43 27.86 26.98 26.06 26.56 26.19 26.59 24.09 24.51 21.21-7.76 40 20.26 18.82 17.72 18.00 17.46 16.29 15.37 13.68 13.34 13.26 13.53 12.64 11.05-9.21 85 18.46 18.19 16.14 15.73 15.73 14.97 13.34 12.35 11.57 11.25 10.39 10.16 9.25-9.21 90 23.95 25.27 21.62 18.28 18.37 18.93 16.49 14.15 12.13 11.57 10.71 11.98 12.48-11.47 91 21.69 20.37 17.43 16.09 15.57 14.43 13.33 13.01 10.95 10.39 9.14 10.42 9.89-11.80 96 22.52 23.12 19.76 18.46 17.36 16.41 14.44 13.11 11.76 11.22 10.80 10.70 10.66-11.86 89 31.50 31.09 24.84 24.75 24.50 25.47 22.09 20.92 18.54 17.81 18.74 18.22 16.57-14.93 92 31.24 27.37 22.79 21.12 20.33 19.00 17.60 16.57 15.77 16.77 15.59 15.97 15.57-15.67 95 20.40 13.18 11.00 10.17 6.81 6.76 9.51 7.03 7.96 6.55 5.35 4.63 4.65-15.75

24 1751 2012 3.1%2013 3.9% EIU 20123 2011 2012 2012 1% 2012 3.1% 2013 3.9% EIU ECB 201112 2012 2012 1.8% 2012 0.7% 2012 1.9% Fed 2014 ECB 1.5%

1751 25 1.0% 2012 0.75% 2012 2012 1 1.28 2012 1 78.1 2005 30% 2012 1 6.23 2011 10% 2012 2011 EIU 2012 1.5% OECD OECD 2013 2011 OPEC 2012OPEC 6.4% OPEC 1.0% 110.0 2012 1.8%2013 2.0% EIU 2012 2011 1.8% 2.8% 2012 1.8%2013 2.0% 12 7 2008 10.5 400 90 300

26 1751 12 1 20 20121 8.3% 15 2011921 400 0.25% 2014 2012 1 1.28 1 78.1 1 6.23 2012 0.7%2013 0.5% AAA 2012 2012 0.7%2013 0.5% 2011 1.50% 1.0% 20121 2.7% 2.0% 2012 0.75% 2013 2012 1.9%2013 1.4% 2011 20113 22.4% 33% 2012 1.9% 2013 1.4%

1751 27 201011 5 201110 55 20122 65 2 1 78 20114 10 1 85 75.5 2012 1 78.1 2011 0.3% 2010 0.7% 2012 0.3% 2012 6.0%2013 6.8% 2009 2012 6.0% 2013 6.8%

28 1751 2016 2011 8.2% 20121 2011 76.5% 4.5% 2011 2012 3.6% 2011/12 2015/2016 7.9% 2012 3.5%2013 4.2% 2010 2011 4.2% 2012 3.5% 2013 OECD 4.2% 14.3% 2012 2012 3.3% 2014 2011 3.4% 2003 2012 1.8% 2012 4.0% 2013 4.1% 2011 2012

1751 29 1 % 2009 2010 2011 2012 2013 GDP -0.8 5.0 3.7 3.1 3.9-2.4 4.0 2.6 2.0 2.7-3.5 3.0 1.7 1.8 2.0-2.8 3.2 2.3 1.8 2.2-5.5 4.5-0.4 1.9 1.4-4.2 1.8 1.5-0.7 0.5 27-4.2 1.9 1.6-0.6 0.8-5.7 3.3 3.7 2.3 3.4 a -2.7 2.5 2.9 1.0 2.5 5.2 8.3 6.5 6.0 6.8 1.2 7.9 4.7 4.9 5.5-2.0 5.9 4.2 3.5 4.2 1.5 4.1 3.2 4.0 4.1 b 1.1 4.4 4.4 3.8 4.8 a b The Economic Intelligence Unit Ltd, EIU Country Forecast, March, 2012. GCC 2012 4.0% 2013 4.1% 2 0.4% 2 +0.4% 1 526 2011 1,076 1,241 2 CPI 0.4% 2 3.2% CPI 0.1%2 CPI +0.1% +5.7% -0.8%

30 1751-3.4% +0.6% -0.2% -0.9% +0.8% +0.2% -0.2% 4 CPI+2.9% CPI +3.9% +7.0% +2.2% -1.0% +1.9% -9.8% +3.0% +2.9% +4.2% +3.3% +2.2% +2.0% +1.6% +3.4% 2 CPI-W 0.5% 3.1% 224.317 1982~84=100 2011 2011 1,076 1,241 2011 1,411 1,809 1,863 462 453 2011 606 503 1,794 1,851 1,223 1,268 14 36 333 335 3 486 1,537 (1) 885 259 (2) 358 401 (3) 1,034 741 (4) 693 182 (5) 19 41 (6) 993 10 (1) 596 2,328 (2) 467 615 (3) 374

1751 31 * 1 2 3 4 5WTO 2-1 % * * * (+) GDP (-) ( ) ( ) * * 2001 1.1-3.4 4.7 1.9 2.8 3.25 4.75 7,311.9-6.8 11,524.7-6.3-4,212.8 2002 1.8 0.2 5.8-1.3 1.6 2.25 4.25 6,974.4-4.6 11,719.3 1.7-4,744.9 2003 2.5 1.3 6.0 3.2 2.3 2.00 4.00 7,298.2 4.6 12,702.3 8.4-5,404.1 2004 3.5 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 3.1 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 1.9 2.7 4.6 3.9 2.9 4.75 7.25 11,482.0 11.9 20,204.0 5.3-8,722.1 2008-0.3-3.7 5.8 6.4 3.8 0.50 3.25 12,874.4 12.1 21,694.9 7.4-8,820.4 2009-3.5-11.2 9.3-2.5-0.3 0.50 3.25 10,560.4-18.0 16,053.0-26.0-5,492.5 2010 3.0 5.3 9.6 4.2 1.6 0.75 3.25 12,782.6 21.0 19,691.8 22.7-6,909.2 2011 1.7 4.2 9.0 6.0 3.1 0.75 3.25 14,806.5 15.8 22,654.2 15.0-7,847.8 2010 4 4.6 9.9 5.2 2.2 0.75 3.25 1,024.4 26.8 1,576.2 28.5-551.8 5 3.3 7.2 9.6 4.9 2.0 0.75 3.25 1,054.8 26.1 1,607.0 34.1-552.3 6 7.7 9.4 2.7 1.1 0.75 3.25 1,072.0 23.5 1,733.8 32.6-661.8 7 7.5 9.5 4.1 1.4 0.75 3.25 1,040.6 21.5 1,690.2 21.3-649.6 8 3.5 6.8 9.6 3.3 1.2 0.75 3.25 1,068.5 22.4 1,763.2 30.8-694.7 9 6.3 9.5 3.9 1.1 0.75 3.25 1,076.4 17.7 1,721.9 18.9-645.5 10 6.0 9.5 4.3 1.2 0.75 3.25 1,171.0 17.1 1,752.4 16.1-581.3 11 3.1 6.0 9.8 3.3 1.1 0.75 3.25 1,130.5 19.5 1,735.4 18.0-604.9 12 6.7 9.4 3.9 1.4 0.75 3.25 1,174.8 18.2 1,708.3 13.9-533.5 2011 1 5.8 9.1 3.6 1.6 0.75 3.25 1,101.5 19.0 1,714.8 22.0-613.2 2 2.2 5.2 9.0 5.4 2.1 0.75 3.25 1,096.4 16.8 1,607.3 16.8-510.9 3 5.3 8.9 5.5 2.6 0.75 3.25 1,313.1 18.8 1,904.5 17.4-591.3 4 4.5 9.0 6.3 3.1 0.75 3.25 1,239.0 20.9 1,829.6 16.1-590.6 5 1.6 3.4 9.0 6.6 3.4 0.75 3.25 1,240.0 17.6 1,938.4 20.6-698.4 6 3.5 9.1 6.8 3.5 0.75 3.25 1,229.1 14.7 1,968.9 13.6-739.7 7 3.7 9.1 7.2 3.6 0.75 3.25 1,203.8 15.7 1,922.6 13.7-718.8 8 1.5 3.7 9.1 6.6 3.8 0.75 3.25 1,267.7 18.6 2,013.6 14.2-745.9 9 3.6 9.0 7.2 3.9 0.75 3.25 1,272.2 18.2 1,946.5 13.0-674.3 10 4.2 8.9 6.0 3.6 0.75 3.25 1,313.2 12.1 1,965.8 12.2-652.6 11 1.6 3.9 8.7 5.9 3.5 0.75 3.25 1,261.9 11.6 1,950.8 12.4-688.9 12 3.5 8.5 4.8 3.0 0.75 3.25 1,268.5 8.0 1,891.5 10.7-623.0 2012 1 3.6 8.3 4.1 2.9 0.75 3.25 1,182.3 7.3 1,883.8 9.9-701.5 2 4.0 8.3 3.4 2.9 0.75 3.25

32 1751 256 (4) 783 676 (5) 313 211 (6) 9 218 (7) 188 96 (8) 755-458 1 526 1 1,808 2,334 526 504 26 47 24 675 3 149 1 / +13 +11 +1-5 -3-2 / +24 +11 +4 +2-1 1 7 4 / 1 / 21 +16 +8 +2-260 -100-85 -62-48 -42-41 -23-20 -14-13 -13 225 292 67 37 50 2011 2012 201110 10% 20089 30% 1

1751 33 1 1.3% 1 85.72005=100 1.3% 95.2 1.9% 1 84.9 1.5% 0.9% 1 106.5 2.5% 3.0% 1 85.7 1.2% 3.4%1 108.3 0.1% 2 1.7% 3 2 1.7% 1 0.1% 1 99.62010=100 0.1% 99.3 0.1% 98.3 0.9% 4.1% 2.9% 1.1% 0.3% 4.3% 4.7% 1.3% 0.7% 0.2% 4 1 4.6% 1 4.6% 0.1 4.9% 4.4% 0.4 1 291 19 179 18 112 1 101 5 70 12 1 6,211 48

34 1751 1,046 27 1,031 11 702 37 496 21 1 55.9% 0.3 1 4,601 58 1 2.3% 1 283,118 2.3% 201112 8.7% 7.5% 5.5% 2.6% 0.9% 4.4% 0.6% 1 43485 2.4% 3.8% 1.6% 10.5%1 2.8% 1 9.2% 1 45,105 9.2% 4 59,873 9.5% 25 1 14,769 5 10.0% 8.7% 1.4% 17.5% 11.4% 19.1% 74.3% 38.2% 30.8% 134.9% 1 7,575.9 0.7% 4,923.9 5.6% 1 2,652.0 7.4% 1 EU 5,321.6 7.6% EU 5,308.7 2.9%1 EU12.9 97.9%

1751 35 13.5% 13.9% 11.2% EU 126.9% EU 210.0% 80.7% 1 23,556.3 13.7% 27,143.2 9.4%1 3,586.9 19.5% 20.8% 17.5% 27.7% 25.8% 11.1% 1 7,409.8 20.2% 13,297.2 7.5%1 5,887.4 91.3% 31.0% 13.4% 13.5% 22.8% 32.5% 25.8% 3 3 23 50.1 3 20074 410 50 45.9 1.8 225 29 2,050 2 1 76 2 81 1 2 9,800 1 1,000 4

36 1751 * 1 2 3 4 3 5WTO 2-2 % * * * (+) GDP (-) ( ) ( ) * * 2001 0.4 5.0-2.3-0.8 0.10 1.38 4,032.4-15.9 3,492.0-8.0 540.4 2002 0.3 5.4-2.1-0.9 0.10 1.38 4,167.3 3.3 3,376.0-3.3 791.3 2003 1.7 5.2-0.8-0.2 0.10 1.38 4,718.2 13.2 3,933.0 16.5 785.2 2004 2.4 4.8 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 1.7-0.3 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 1.7 0.1 0.75 1.88 7,142.1 10.4 6,221.4 7.4 920.8 2008-1.0-3.3 4.0 4.6 1.4 0.30 1.68 7,820.5 9.5 7,625.9 22.6 194.6 2009-5.5-21.9 5.1-5.3-1.3 0.30 1.48 5,807.2-25.7 5,519.6-27.6 287.6 2010 4.4 16.5 5.1-0.1-0.7 0.30 1.48 7,697.7 32.6 6,940.5 25.7 757.2 2011-0.7-3.5 4.6 2.1-0.3 0.30 1.48 8,225.6 6.9 8,550.0 23.2-324.3 2010 4 27.0 5.1-0.2-0.8 0.30 1.48 630.7 48.9 552.7 32.0 78.1 5 4.4 20.7 5.1 0.4-0.7 0.30 1.48 578.5 38.6 544.8 40.3 33.7 6 16.6 5.1 0.5-0.7 0.30 1.48 645.3 35.6 571.6 34.3 73.7 7 14.6 5.0-0.1-1.0 0.30 1.48 682.0 33.1 592.6 25.1 89.5 8 5.5 15.5 5.0 0.0-1.1 0.30 1.48 609.5 28.2 602.1 31.4 7.5 9 12.1 5.1-0.1-0.9 0.30 1.48 692.0 23.9 600.3 19.6 91.8 10 5.0 5.1 0.9-0.2 0.30 1.48 699.0 18.9 599.7 20.1 99.3 11 3.1 7.0 5.0 0.9-0.3 0.30 1.48 659.6 17.9 640.5 23.6 19.1 12 5.9 4.9 1.2-0.4 0.30 1.48 732.6 21.2 646.4 18.9 86.3 2011 1 4.6 4.9 1.6-0.6 0.30 1.48 601.6 11.9 661.8 24.2-60.2 2-0.3 2.9 4.7 1.7-0.5 0.30 1.48 677.5 19.3 600.3 20.7 77.2 3-13.1 4.6 2.0-0.5 0.30 1.48 716.3 8.0 695.4 24.2 20.9 4-13.6 4.7 2.6-0.5 0.30 1.48 618.7-1.9 676.0 22.3-57.3 5-1.7-5.5 4.5 2.2-0.4 0.30 1.48 585.7 1.2 691.6 26.9-105.9 6-1.7 4.6 2.5-0.4 0.30 1.48 717.2 11.1 709.2 24.1 8.0 7-3.0 4.7 2.8 0.2 0.30 1.48 728.2 6.8 719.4 21.4 8.8 8-0.4 0.4 4.3 2.6 0.2 0.30 1.48 693.6 13.8 794.2 31.9-100.7 9-3.3 4.2 2.5 0.0 0.30 1.48 777.5 12.3 739.9 23.3 37.6 10 0.1 4.4 1.6-0.2 0.30 1.48 717.3 2.6 754.2 25.8-36.9 11-0.6-4.2 4.5 1.6-0.5 0.30 1.48 669.8 1.6 758.9 18.5-89.1 12-4.3 4.5 1.2-0.2 0.30 1.48 722.3-1.4 749.1 15.9-26.8 2012 1-1.3 4.6 0.5 0.1 0.30 1.48 585.9-2.6 777.8 17.5-191.9 2 0.6 0.30 1.48 712.2 5.1 631.1 5.1 81.2

1751 37 2012 1. 2011 1.5%1.6% 2012 2011 16 27 0.7%0.9% 2011 16 27 2010 0.7%0.9% 0.3% 2 q-o-q GDP 0.2% 0.3% 0.2% 2012 GDP 2011 1.5% 1.6% 1-1.2%-1.0% 20121 2011 1.2%1.0% 3.1%3.3% 6.2%7.7% 1.3%0.9% 1.8%0.7% 2.2%1.5% 201112 10.4%9.9% 2011 12 10.4% 9.9%12 2,381.6 11 2.4 69% 1,646.9 11

38 1751 2 549.3 11 1.5 60% 329 11 1.7 2012 2 2.7%3.0% 20122 2.7% 3.0% 3.0% +9.5% +4.6% +4.4% +4.1% +3.1% +2.3% +1.9% +1.6% +1.3% +1% +0.9% 1 76 23.8 20121 76 2011 11% 1,384 4% 1,460 20121 27 23.8 2011 12% 1,218 4% 1,455 1 2011 2% 2011 2% 2011 2011 GDP 3% GDP 1% 3 2012 2012 2012 1% 0.7% 1 5% 20121 5% 12 1 4.3% 3.5% 1.7% 1 5.8% 20121 5.8% 4,106 268 2011 2.3 20121 520 3.5% 5.7%5.3% 2%1.8%

1751 39 2-3-1 % * * (+) GDP (-) ( ) ( ) * * 2001 1.5-0.1 7.8 2.0 3.25 3.42 5,689.1 3.8 4,838.7-2.0 850.4 2002 0.0-1.1 8.7 1.4 2.75 2.98 6,201.1 9.0 4,938.7 2.1 1,262.4 2003-0.4 0.5 9.8 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 1.7 2.00 2.17 9,120.3 20.1 7,180.6 17.6 1,939.7 2005 0.7 3.0 11.3 1.6 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 14,492.8 9.6 11,857.7 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 3.7 11.2 7.1 5.8 1.1 1.00 0.81 12,584.0 12.3 10,542.0 13.9 2,042.0 2011 3.0 7.4 6.0 7.5 2.3 1.00 1.14 14,725.3 17.0 12,541.3 19.0 2,184.0 2010 4 14.4 7.3 6.0 1.0 1.00 0.40 1,005.6 18.4 832.1 16.2 173.6 5 4.1 13.3 7.1 6.2 1.2 1.00 0.42 955.4 15.4 828.6 20.7 126.8 6 14.6 7.0 5.1 0.9 1.00 0.45 1,038.3 10.8 867.7 16.5 170.5 7 8.3 6.9 5.3 1.2 1.00 0.58 1,036.4 4.3 871.6 12.6 164.8 8 4.0 15.6 6.9 6.4 1.0 1.00 0.64 956.7 11.6 835.4 14.7 121.3 9 8.5 6.9 7.6 1.3 1.00 0.62 1,120.8 8.6 906.2 4.8 214.6 10 9.2 6.8 7.7 1.3 1.00 0.78 1,192.6 11.1 991.8 11.7 200.7 11 3.8 12.9 6.7 7.8 1.5 1.00 0.83 1,193.3 10.7 1,006.0 19.8 187.3 12 16.2 6.6 9.5 1.7 1.00 0.81 1,068.1 8.3 903.0 12.4 165.1 2011 1 14.6 6.5 9.4 2.0 1.00 0.79 1,048.6 16.2 914.3 16.5 134.3 2 4.6 15.0 6.3 10.8 2.1 1.00 0.89 1,144.5 19.7 983.2 26.8 161.3 3 9.9 6.2 10.9 2.1 1.00 0.90 1,371.3 18.4 1,109.8 18.2 261.5 4 6.2 6.1 9.2 2.4 1.25 1.13 1,214.2 20.7 1,059.4 27.3 154.8 5 2.9 18.6 6.0 8.9 2.3 1.25 1.24 1,317.4 37.9 1,109.3 33.9 208.0 6 0.5 5.9 8.5 2.3 1.25 1.28 1,264.4 21.8 1,086.3 25.2 178.1 7 6.8 5.9 8.2 2.4 1.50 1.42 1,219.4 17.7 1,072.4 23.0 147.0 8 2.7 11.4 5.8 6.5 2.4 1.50 1.37 1,218.7 27.4 1,052.8 26.0 165.9 9 5.5 5.8 5.7 2.6 1.50 1.35 1,305.0 16.4 1,070.4 18.1 234.6 10 0.4 5.8 5.0 2.5 1.50 1.36 1,219.3 2.2 1,066.2 7.5 153.1 11 2.0 4.0 5.7 4.9 2.4 1.25 1.23 1,284.5 7.6 1,067.9 6.2 216.5 12-0.4 5.7 3.0 2.1 1.00 1.14 1,118.0 4.7 949.3 5.1 168.7 2012 1 5.0 5.8 3.0 2.1 1.00 0.84 1,107.0 5.6 939.0 2.7 168.0 2 2.6 2.3 1.00 0.63 * 1 19991 Main refinancing operations Minimum bid rate 2 19991 Prime rate 1 2 3 4WTO

40 1751 2 2.3% 20122 2011 2.3% 8% 20103 2 7.6% +17.7% +11.2% +6.7% 8.9% 2 1.6% 2 2.7% +8.8% +6% +4.5% 4.1% 4.1%3.7% 1 4.2% 2,046 2011 4.2% 1,107 2011 5.6% 939 2.7% 168 2 2011 0.5% 2011 0.5% 0.9% 4.1% 0.5% 2/3 201111 2012 2011 0.8% 2012 1-3.8% 20121 2011 3.8% 20112 12 11 1 0.1% 201112 8.3% 201112 8.3% 267 1624 104 22.2% 2 3.4% 20122 3.4%2

1751 41 2-3-2 % * * * * (+) GDP (-) ( ) ( ) * * 2001 3.2-1.5 5.0-0.3 1.2 4.00 4.50 2,723.2-4.3 3,316.1-0.8-592.9 2002 2.7-1.5 5.1-0.1 1.3 4.00 4.00 2,797.8 2.7 3,515.6 6.0-717.8 2003 3.5-0.3 5.0 0.6 1.4 3.75 3.50 3,076.6 10.0 3,873.5 10.2-796.9 2004 3.0 0.9 4.7 1.0 1.3 4.75 5.00 3,497.5 13.7 4,612.7 19.1-1,115.2 2005 2.1-0.8 4.8 2.0 2.1 4.50 5.00 3,845.1 9.9 5,091.8 10.4-1,246.7 2006 2.6 0.0 5.4 2.0 2.3 5.00 5.50 4,479.0 16.5 6,005.4 17.9-1,526.4 2007 3.5 0.5 5.3 2.3 2.3 5.50 6.50 4,393.4-1.9 6,248.9 4.1-1,855.5 2008-1.1-2.8 5.6 6.8 3.6 2.00 5.50 4,610.6 4.9 6,352.2 1.7-1,741.5 2009-4.4-9.0 7.6 1.6 2.2 0.50 1.00 3,533.3-23.4 4,831.5-23.9-1,298.2 2010 2.1 1.9 7.8 4.2 3.3 0.50 1.00 4,053.0 14.7 5,610.8 16.1-1,557.8 2011 0.8-1.2 8.1 5.6 4.5 0.50 1.00 4,727.2 16.6 6,359.7 13.3-1,632.6 2010 4 0.9 7.8 4.9 3.7 0.50 1.00 328.1 20.8 451.0 20.6-122.9 5 2.5 2.5 7.8 5.0 3.3 0.50 1.00 306.3 15.0 417.8 15.7-111.6 6 1.2 7.8 4.4 3.2 0.50 1.00 345.8 14.4 467.3 11.6-121.5 7 1.6 7.7 4.2 3.1 0.50 1.00 338.0 7.0 477.2 10.6-139.1 8 3.0 3.9 7.6 4.2 3.1 0.50 1.00 311.0 15.0 447.4 20.3-136.3 9 3.7 7.8 3.8 3.0 0.50 1.00 354.5 9.6 497.9 11.4-143.4 10 2.7 7.8 4.0 3.1 0.50 1.00 370.5 8.7 506.5 10.0-136.0 11 1.7 2.8 7.7 4.1 3.2 0.50 1.00 385.3 14.8 535.8 18.0-150.5 12 3.3 7.8 4.2 3.7 0.50 1.00 362.2 9.3 503.2 17.3-141.1 2011 1 3.3 7.8 5.0 4.0 0.50 1.00 352.1 23.7 502.3 19.0-150.3 2 1.5 1.3 7.7 5.3 4.3 0.50 1.00 390.5 21.4 488.3 18.2-97.7 3-0.9 7.7 5.6 4.1 0.50 1.00 421.2 22.1 558.2 18.4-137.0 4-1.9 7.8 5.6 4.5 0.50 1.00 386.1 17.7 504.0 11.7-117.9 5 0.4-1.6 7.9 5.4 4.5 0.50 1.00 404.3 32.0 542.6 29.9-138.3 6-0.6 8.0 5.8 4.2 0.50 1.00 399.8 15.6 535.0 14.5-135.2 7-1.4 8.1 6.1 4.5 0.50 1.00 391.5 15.8 542.0 13.6-150.5 8 0.3-1.5 8.3 6.0 4.5 0.50 1.00 376.1 20.9 514.5 15.0-138.4 9-1.8 8.3 6.3 5.2 0.50 1.00 395.8 11.6 562.1 12.9-166.3 10-2.5 8.4 5.7 5.0 0.50 1.00 417.3 12.6 553.3 9.2-136.0 11 0.5-3.3 8.4 5.4 4.8 0.50 1.00 411.8 6.9 572.4 6.8-160.6 12-3.1 8.3 4.8 4.2 0.50 1.00 380.7 5.1 485.2-3.6-104.5 2012 1-3.8 4.0 3.6 0.50 1.50 364.2 3.5 513.9 2.3-149.6 2 4.1 3.4 0.50 1.50 * Bank Rate 1 2 3 4WTO

42 1751 1 2.8% 878.1 2011 2.8% 364.2 3.5% 513.9 2.3% 149.6 3 2011 1.3% 2011 1.3% 1.2% 0.2% 0.1% 1.4% -1.2% 2011 1.7% 2012 0.5% 1 10% 20121 10% 403.65 2 2.3% 20122 2011 2.3%CPI 1 4% 1,018.5 2011 4% 459.3 5.8% 559.2 2.5% 99.9 4 2011-0.4% 2011-0.4% 2011 0.4%2012 GDP IMF 2012-2.2% 1-4.1% 1 201112 2.5% 2011 4.1% 200912-5.9% -5.8% -5.4% : +5.8% +2.3% +2% 1 9.2% 20121 9.2% 2004 231.2 2011 12 6.4 20121 15 24

1751 43 2-3-3 % * * * * (+) GDP (-) ( ) ( ) * * 2001 1.8 0.8 8.2 1.6 3.25 3.42 3,003.9 0.2 3,015.2-0.7-11.3 2002 0.9-1.4 8.3 1.9 2.75 2.98 3,182.4 5.9 3,146.7 4.4 35.7 2003 0.9-1.1 8.9 2.1 2.00 2.13 3,761.3 18.2 3,753.5 19.3 7.8 2004 2.5 1.4 9.2 2.1 2.00 2.17 4,263.3 13.3 4,339.2 15.6-75.9 2005 1.8 0.1 9.3 1.7 2.25 2.41 4,435.9 4.0 4,738.0 9.2-302.1 2006 2.5 0.9 9.2 2.9 1.7 3.50 3.64 4,957.4 11.8 5,418.1 14.4-460.8 2007 2.3 1.2 8.4 2.3 1.5 4.00 4.71 5,598.5 12.9 6,315.3 16.6-716.8 2008-0.1-2.8 7.8 4.8 2.8 2.50 2.99 6,173.8 10.3 7,179.2 13.7-1,005.4 2009-2.7-12.6 9.5-5.6 0.1 1.00 0.48 4,845.6-21.5 5,607.1-21.9-761.5 2010 1.4 4.6 9.8 3.1 1.5 1.00 0.81 5,233.3 8.0 6,094.9 8.7-861.5 2011 1.7 2.4 9.7 5.3 2.1 1.00 1.14 5,962.4 13.9 7,138.3 17.1-1,175.9 2010 4 7.1 9.8 3.4 1.7 1.00 0.40 445.6 19.3 507.2 16.6-61.7 5 1.5 8.3 9.8 3.8 1.6 1.00 0.42 375.4 0.5 464.5 8.9-89.1 6 4.9 9.8 3.4 1.5 1.00 0.45 456.5 8.1 511.6 5.4-55.1 7 5.0 9.8 3.6 1.7 1.00 0.58 453.8 0.9 495.6 5.1-41.7 8 1.6 2.3 9.8 3.2 1.4 1.00 0.64 348.7 9.2 438.9 12.2-90.1 9 3.9 9.8 3.9 1.6 1.00 0.62 449.2 0.3 526.9 4.7-77.7 10 3.1 9.7 3.8 1.6 1.00 0.78 474.3 0.0 530.7-0.9-56.5 11 1.4 4.2 9.7 4.2 1.6 1.00 0.83 486.2 12.3 581.5 8.8-95.3 12 5.8 9.7 5.0 1.8 1.00 0.81 449.9 6.4 541.2 6.8-91.4 2011 1 5.3 9.6 5.4 1.8 1.00 0.79 433.9 9.4 545.6 15.9-111.7 2 2.3 5.6 9.6 5.9 1.7 1.00 0.89 468.2 12.9 571.4 21.6-103.2 3 3.1 9.6 6.0 2.0 1.00 0.90 568.0 17.7 671.7 20.7-103.8 4 1.9 9.6 6.0 2.1 1.25 1.13 504.3 13.2 607.7 19.8-103.4 5 1.7 1.5 9.6 5.4 2.0 1.25 1.24 538.8 43.5 651.1 40.2-112.3 6 2.0 9.6 5.2 2.1 1.25 1.28 517.5 13.4 611.0 19.4-93.6 7 3.2 9.7 5.5 1.9 1.50 1.42 492.6 8.5 584.3 17.9-91.7 8 1.6 4.0 9.7 5.4 2.2 1.50 1.37 438.6 25.8 540.5 23.2-102.0 9 0.9 9.7 5.3 2.2 1.50 1.35 512.2 14.0 612.2 16.2-100.0 10 1.9 9.7 5.1 2.3 1.50 1.36 498.6 5.1 594.7 12.0-96.0 11 1.3 1.0 9.8 4.8 2.5 1.25 1.23 519.0 6.7 606.1 4.2-87.1 12-1.2 9.9 3.9 2.5 1.00 1.14 470.8 4.6 541.9 0.1-71.1 2012 1-1.5 10.0 3.5 2.3 1.00 0.84 459.3 5.8 559.2 2.5-99.9 2 2.3 1.00 0.63 * 1 19991 Main refinancing operations Minimum bid rate 2 19991 Prime rate 1 2INSEE 3WTO

44 1751 2-3-4 % * * * * (+) GDP (-) ( ) ( ) * * 2001 1.9-1.2 9.1 2.8 3.25 3.42 2,401.6 2.0 2,313.6-0.9 88.0 2002 0.5-1.5 8.6 2.5 2.75 2.98 2,529.1 5.3 2,443.4 5.6 85.7 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 1.7-0.3 8.0 2.2 2.00 2.17 3,545.9 19.0 3,563.7 20.9-17.8 2005 0.9-0.5 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 2008-1.2-3.7 6.8 5.8 3.4 2.50 2.99 5,446.4 8.9 5,631.1 10.0-184.7 2009-5.5-18.7 7.8-5.4 0.8 1.00 0.48 4,068.3-25.3 4,148.6-26.3-80.4 2010 1.8 6.5 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 0.2 8.4 5.0 2.8 1.00 1.14 5,233.1 17.1 5,575.6 14.5-342.5 2010 4 8.9 8.7 3.2 1.5 1.00 0.40 370.1 17.6 384.7 21.7-14.6 5 1.8 8.0 8.8 3.9 1.4 1.00 0.42 351.4 6.4 379.1 20.2-27.7 6 9.5 8.4 3.5 1.3 1.00 0.45 368.8 5.7 412.3 13.9-43.4 7 6.3 8.4 4.2 1.6 1.00 0.58 425.7 2.8 406.1 11.1 19.7 8 1.9 9.0 8.2 3.7 1.6 1.00 0.64 271.3 16.9 311.4 22.3-40.1 9 6.2 8.1 4.2 1.5 1.00 0.62 392.2 4.5 439.9 12.8-47.8 10 4.8 8.3 4.0 1.8 1.00 0.78 427.4 9.7 463.1 16.3-35.7 11 2.2 5.7 8.1 4.0 1.8 1.00 0.83 416.0 10.1 462.3 17.7-46.3 12 6.3 8.1 4.7 1.8 1.00 0.81 392.8 8.7 432.7 19.1-39.9 2011 1 1.6 8.1 5.3 2.1 1.00 0.79 349.3 16.7 433.6 20.2-84.3 2 1.2 2.8 8.1 5.8 2.3 1.00 0.89 403.9 17.3 445.2 15.9-41.3 3 3.6 8.2 6.2 2.4 1.00 0.90 481.8 17.7 534.8 23.6-53.0 4 3.3 8.2 5.6 2.7 1.25 1.13 448.4 21.1 489.1 27.1-40.8 5 1.0 1.5 8.2 4.8 2.6 1.25 1.24 480.6 36.8 512.6 35.2-32.0 6-0.4 8.2 4.6 2.8 1.25 1.28 469.1 27.2 493.6 19.7-24.5 7-1.3 8.3 4.9 2.8 1.50 1.42 503.0 18.1 481.3 18.5 21.7 8 0.4 2.7 8.3 4.8 2.7 1.50 1.37 346.8 27.8 388.4 24.7-41.7 9-2.4 8.6 4.7 3.0 1.50 1.35 454.4 15.9 480.3 9.2-25.9 10-3.1 8.5 4.7 3.2 1.50 1.36 440.4 3.0 454.9-1.8-14.5 11-0.4-3.7 8.8 4.7 3.2 1.25 1.23 439.6 5.7 461.1-0.3-21.5 12-2.1 8.9 3.9 3.2 1.00 1.14 415.8 5.9 400.7-7.4 15.2 2012 1-4.1 9.2 3.4 3.2 1.00 0.84 351.9 0.7 408.1-5.9-56.1 2 3.3 1.00 0.63 * 1 19991 Main refinancing operations Minimum bid rate 2 19991 Prime rate 1 2ISTAT 3WTO

1751 45 31.1 201112 0.1 2 3.3% 20122 2011 3.3% 2 1 0.8% 8.7% 2 2.2% 20122 +7.6% +7.2% +6.7% +6.2% +3% +2% +1.4% +1.2% 0.1%2.4% 1 2.9% 760 2011 2.9% 351.9 2011 0.7% 408.1 5.9% 56.1 2. Ivan Obolentsev 2050 70 90 Obolentsev LLC Agrosistema Alexei Dyumulen Sergei Kiselyov 1. 20122

46 1751 2 11.4% 2012 2 11.4% 1.4 2 7.3% 9.9% 13.9% 5.0% 2 10.9% 12.7% 241 2 7.8% 17.6% 16.6% 2 471 317 97.6% 0.2 14,480 7.2% 2 20122 2011 0.1% 1.0% 0.1%2012 2 0.4% 1.5% 0.5% 4.7% 1.2% 1.8% 1.7% 2.6% 3.1 % 1.5% 0.4% 3.4% 3.3% 0.9% 6.0% 2.5% 2.0% 1.3% 2 3.2% 20122 3.2% 3.2% 3.2% 6.2% 1.7% 3.9% 1.5% 2 3.9% 2 0.1% 0.1% 0.1% 0.3% 0.1% 0.2% 2 6.2% 1.99 5.4% 0.15 12.9% 0.90 6.5% 0.21 7.5% 0.18

1751 47 2-4-1 % * * (+) GDP (-) ( ) ( ) * * 2001 8.3 9.5 3.6-1.3 0.7 2.97 5.58 2,661.0 6.8 2,435.5 8.2 225.5 2002 9.1 12.9 4.0-2.3-0.8 2.97 5.04 3,256.0 22.4 2,951.7 21.2 304.3 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 4.2 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 18,985.0 20.3 17,435.0 24.9 1,550.0 2010 4 17.8 6.8 2.8 1.80 4.86 1,198.5 30.4 1,184.4 50.0 14.1 5 10.3 16.5 4.2 7.1 3.1 1.80 4.86 1,316.6 48.4 1,122.1 48.3 194.5 6 13.7 6.4 2.9 1.80 4.86 1,373.4 43.9 1,171.5 33.9 201.9 7 13.4 4.8 3.3 1.80 4.86 1,454.3 38.0 1,168.9 22.8 285.4 8 9.6 13.9 4.1 4.3 3.5 1.80 4.86 1,392.4 34.3 1,194.8 35.4 197.6 9 13.3 4.3 3.6 1.80 4.86 1,449.2 25.1 1,283.6 24.4 165.6 10 13.1 5.0 4.4 1.80 5.10 1,359.2 22.8 1,091.1 25.6 268.1 11 9.8 13.3 4.1 6.1 5.1 1.80 5.10 1,532.8 34.9 1,309.9 38.3 222.9 12 13.5 5.9 4.6 2.25 5.35 1,541.0 17.9 1,414.9 25.9 126.1 2011 1 13.3 6.6 4.9 2.25 5.35 1,507.0 37.6 1,449.0 51.7 58.0 2 9.7 14.9 4.1 7.2 4.9 2.25 5.60 966.8 2.3 1,045.3 20.0-78.5 3 14.8 7.3 5.4 2.25 5.60 1,521.3 35.8 1,523.0 27.5-1.7 4 13.4 6.8 5.3 2.25 5.85 1,555.9 29.8 1,443.4 21.9 112.5 5 9.5 13.3 4.1 6.8 5.5 2.25 5.85 1,570.5 19.3 1,441.1 28.4 129.4 6 15.1 7.1 6.4 2.25 5.85 1,619.0 17.9 1,397.0 19.2 221.9 7 14.0 7.5 6.5 2.25 6.10 1,751.5 20.4 1,447.9 23.9 303.6 8 9.1 13.5 4.1 7.3 6.2 2.25 6.10 1,732.4 24.4 1,554.3 30.1 178.1 9 13.8 6.5 6.1 2.25 6.10 1,695.9 17.0 1,550.5 20.8 145.4 10 13.2 5.0 5.5 2.25 6.10 1,573.7 15.8 1,403.0 28.6 170.6 11 8.9 12.4 4.1 2.7 4.2 2.25 6.10 1,744.3 13.8 1,598.3 22.0 146.0 12 12.8 1.7 4.1 2.25 6.10 1,746.7 13.3 1,582.2 11.8 164.5 2012 1 1.5 0.7 4.5 2.25 6.10 1,499.3-0.5 1,226.8-15.3 272.4 2 21.3 0.0 3.2 2.25 6.10 1,144.7 18.4 1,459.5 39.6-314.8 * 1 2 3WTO