china ecomomy profile 2012

Economy chaina

Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, creation of a diversified banking system, development of stock markets, rapid growth of the private sector, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors it considers important to "economic security," explicitly looking to foster globally competitive national champions. After keeping its currency tightly linked to the US dollar for years, in July 2005 China revalued its currency by 2.1% against the US dollar and moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2010 stood as the second-largest economy in the world after the US, having surpassed Japan in 2001. The dollar values of China's agricultural and industrial output each exceed those of the US; China is second to the US in the value of services it produces. Still, per capita income is below the world average. The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic demand; (b) sustaining adequate job growth for tens of millions of migrants and new entrants to the work force; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2011 more than 250 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development. In 2010-11, China faced high inflation resulting largely from its credit-fueled stimulus program. Some tightening measures appear to have controlled inflation, but GDP growth consequently slowed to near 9% for 2011. An economic slowdown in Europe is expected to further drag Chinese growth in 2012. Debt overhang from the stimulus program, particularly among local governments, and a property price bubble challenge policy makers currently. The government's 12th Five-Year Plan, adopted in March 2011, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent on exports in the future. However, China has made only marginal progress toward these rebalancing goals.

GDP (purchasing power parity)

$11.29 trillion (2011 est.)
$10.34 trillion (2010 est.)
$9.356 trillion (2009 est.)
note: data are in 2011 US dollars

GDP (official exchange rate)

$6.989 trillion
note: because China's exchange rate is determine by fiat, rather than by market forces, the official exchange rate measure of GDP is not an accurate measure of China's output; GDP at the official exchange rate substantially understates the actual level of China's output vis-a-vis the rest of the world; in China's situation, GDP at purchasing power parity provides the best measure for comparing output across countries (2011 est.)

GDP - real growth rate

9.2% (2011)
10.5% (2010)
9.2% (2009)

GDP - per capita (PPP)

$8,400 (2011 est.)
$7,500 (2010 est.)
$7,000 (2009 est.)
note: data are in 2011 US dollars

GDP - composition by sector

agriculture: 10.1%
industry: 46.8%
services: 43.1% (2011 est.)

Population below poverty line

13.4%
note: in 2011, China set a new poverty line at RMB 2300 (approximately US $363; this new standard is significantly higher than the line set in 2009, and as a result, 128 million Chinese are now considered below the poverty line (2011)

Labor force

795.5 million
note: by the end of 2011, population at working age (15-64 years) was 1.0024 billion (2011 est.)

Labor force - by occupation

agriculture: 36.7%
industry: 28.7%
services: 34.6% (2008 est.)

Unemployment rate

6.5% (2011 est.)
6.1% (2010 est.)
note: registered urban unemployment, which excludes private enterprises and migrants was 4.1% in 2010

Household income or consumption by percentage share

lowest 10%: 3.5%
highest 10%: 15%
note: data are for urban households only (2008)

Distribution of family income - Gini index

48 (2009)
41.5 (2007)

Investment (gross fixed)

54.2% of GDP (2011 est.)

Budget

revenues: $1.646 trillion
expenditures: $1.729 trillion (2011 est.)

Taxes and other revenues

23.6% of GDP (2011 est.)

Budget surplus (+) or deficit (-)

-1.2% of GDP (2011 est.)

Public debt

43.5% of GDP (2011)
43.5% of GDP (2010)
note: official data; data cover both central government debt and local government debt, which China's National Audit Office estimated at RMB 10.72 trillion (approximately US$1.66 trillion)in 2011; data exclude policy bank bonds, Ministry of Railway debt, China Asset Management Company debt, and non-performing loans

Inflation rate (consumer prices)

5.4% (2011 est.)
3.3% (2010 est.)

Central bank discount rate

2.25% (31 December 2010 est.)
3.25% (31 December 2010 est.)

Commercial bank prime lending rate

6.56% (31 December 2011 est.)
5.81% (31 December 2010 est.)

Stock of money

$2.434 trillion (31 December 2008)
$2.09 trillion (31 December 2007)

Stock of narrow money

$4.599 trillion (31 December 2011 est.)
$4.046 trillion (31 December 2010 est.)

Stock of broad money

$13.52 trillion (31 December 2011 est.)
$11.01 trillion (31 December 2010 est.)

Stock of quasi money

$4.523 trillion (31 December 2008)
$3.437 trillion (31 December 2007)

Stock of domestic credit

$10.72 trillion (31 December 2011 est.)
$8.868 trillion (31 December 2010 est.)

Market value of publicly traded shares

$3.408 trillion (30 December 2011 est.)
$4.028 trillion (31 December 2010)
$5.008 trillion (31 December 2009 est.)

Agriculture - products

world leader in gross value of agricultural output; rice, wheat, potatoes, corn, peanuts, tea, millet, barley, apples, cotton, oilseed; pork; fish

Industries

world leader in gross value of industrial output; mining and ore processing, iron, steel, aluminum, and other metals, coal; machine building; armaments; textiles and apparel; petroleum; cement; chemicals; fertilizers; consumer products, including footwear, toys, and electronics; food processing; transportation equipment, including automobiles, rail cars and locomotives, ships, and aircraft; telecommunications equipment, commercial space launch vehicles, satellites

Industrial production growth rate

13.9% (2011 est.)

Electricity - production

4.604 trillion kWh (2011)

Electricity - production by source

fossil fuel: 80.2%
hydro: 18.5%
nuclear: 1.2%
other: 0.1% (2001)

Electricity - consumption

4.693 trillion kWh (2011)

Electricity - exports

19.06 billion kWh (2010)

Electricity - imports

55.45 billion kWh (2010)

Oil - production

4.073 million bbl/day (2011)

Oil - consumption

9.4 million bbl/day (2011 est.)

Oil - exports

506,500 bbl/day (2011 est.)

Oil - imports

5.08 million bbl/day (2011 est.)

Oil - proved reserves

14.8 billion bbl (1 January 2011 est.)

Natural gas - production

102.5 billion cu m (2011)

Natural gas - consumption

129 billion cu m (2011 est.)

Natural gas - exports

3.21 billion cu m (2011 est.)

Natural gas - imports

30 billion cu m (2011 est.)

Natural gas - proved reserves

800 billion cu m (1 January 2011 est.)

Current Account Balance

$280.6 billion (2011 est.)
$305.4 billion (2010 est.)

Exports

$1.898 trillion (2011 est.)
$1.578 trillion (2010 est.)

Exports - commodities

electrical and other machinery, including data processing equipment, apparel, textiles, iron and steel, optical and medical equipment

Exports - partners

US 17.7%, Hong Kong 14.1%, Japan 7.8%, South Korea 4.4%, Germany 4% (2009)

Imports

$1.743 trillion (2011 est.)
$1.327 trillion (2010 est.)

Imports - commodities

electrical and other machinery, oil and mineral fuels, optical and medical equipment, metal ores, plastics, organic chemicals

Imports - partners

Japan 11.2%, South Korea 9.3%, US 7%, Germany 5.3%, Australia 4.7% (2009)

Reserves of foreign exchange and gold

$3.236 trillion (31 December 2011 est.)
$2.895 trillion (31 December 2010 est.)

Debt - external

$697.2 billion (30 September 2011 est.)
$548.9 billion (31 December 2010 est.)

Stock of direct foreign investment - at home

$776 billion (31 December 2011 est.)
$578.8 billion (31 December 2010 est.)

Stock of direct foreign investment - abroad

$322 billion (31 December 2011 est.)
$317.2 billion (31 December 2010 est.)

Exchange rates

Renminbi yuan (RMB) per US dollar -
6.4614 (2011 est.)
6.7695 (2010 est.)
6.8314 (2009)
6.9385 (2008)
7.61 (2007)

 

Argentina Economy Profile 2012

 

economy
Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world's wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight. A severe depression, growing public and external indebtedness, and a bank run culminated in 2001 in the most serious economic, social, and political crisis in the country's turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default - the largest in history - on the government's foreign debt in December of that year, and abruptly resigned only a few days after taking office. His successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The economy bottomed out that year, with real GDP 18% smaller than in 1998 and almost 60% of Argentines under the poverty line. Real GDP rebounded to grow by an average 8.5% annually over the subsequent six years, taking advantage of previously idled industrial capacity and labor, an audacious debt restructuring and reduced debt burden, excellent international financial conditions, and expansionary monetary and fiscal policies. Inflation also increased, however, during the administration of President Nestor KIRCHNER, which responded with price restraints on businesses, as well as export taxes and restraints, and beginning in early 2007, with understating inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her husband as President in late 2007, and the rapid economic growth of previous years began to slow sharply the following year as government policies held back exports and the world economy fell into recession. The economy has rebounded strongly from the 2009 recession, but the government's continued reliance on expansionary fiscal and monetary policies risks exacerbating already high inflation.
GDP (purchasing power parity)
$709.7 billion (2011 est.)
 $657.2 billion (2010 est.)
 $602 billion (2009 est.)

note: data are in 2011 US dollars
GDP (official exchange rate)
$435.2 billion (2011 est.)
GDP - real growth rate
8% (2011 est.)
 9.2% (2010 est.)
 0.8% (2009 est.)
GDP - per capita (PPP)
$17,400 (2011 est.)
 $16,200 (2010 est.)
 $15,000 (2009 est.)
note: data are in 2011 US dollars
GDP - composition by sector
agriculture: 10%
industry: 30.7%
services: 59.2% (2011 est.)
Population below poverty line
30%
note: data are based on private estimates (2010)
Labor force
16.76 million
note: urban areas only (2011 est.)
Labor force - by occupation
agriculture: 5%
industry: 23%
services: 72% (2009 est.)
Unemployment rate
7.2% (2011 est.)
 7.8% (2010 est.)
Unemployment, youth ages 15-24
total: 21.2%
male: 18.8%
female: 24.7% (2009)
Household income or consumption by percentage share
lowest 10%: 1.7%
highest 10%: 29.5% (3rd Quarter, 2010)
Distribution of family income - Gini index
45.8 (2009)
Investment (gross fixed)
22.6% of GDP (2011 est.)
Budget
revenues: $105.8 billion
expenditures: $113.3 billion (2011 est.)
Taxes and other revenues
25.1% of GDP (2011 est.)
Budget surplus (+) or deficit (-)
-2% of GDP (2011 est.)
Public debt
42.9% of GDP (2011 est.)
 45.1% of GDP (2010 est.)
Inflation rate (consumer prices)
22% (2010 est.)
 16% (2009 est.)
note: data are derived from private estimates
Central bank discount rate
NA%
Commercial bank prime lending rate
11.8% (31 December 2011 est.)
 10.558% (31 December 2010 est.)
Stock of money
$32.57 billion (31 December 2008)
 $33.93 billion (31 December 2007)
Stock of narrow money
$52.63 billion (31 December 2011 est.)
 $56.32 billion (31 December 2010 est.)
Stock of quasi money
$46.18 billion (31 December 2008)
 $45.92 billion (31 December 2007)
Stock of broad money
$132.3 billion (31 December 2011 est.)
 $112.9 billion (31 December 2010 est.)
Stock of domestic credit
$136.4 billion (31 December 2011 est.)
 $104.9 billion (31 December 2010 est.)
Market value of publicly traded shares
$63.91 billion (31 December 2010)
 $48.93 billion (31 December 2009)
 $52.31 billion (31 December 2008)
Agriculture - products
sunflower seeds, lemons, soybeans, grapes, corn, tobacco, peanuts, tea, wheat; livestock
Industries
food processing, motor vehicles, consumer durables, textiles, chemicals and petrochemicals, printing, metallurgy, steel
Industrial production growth rate
6.5%
note: based on private estimates (2011 est.)
Electricity - production
115.4 billion kWh (2008 est.)
Electricity - production by source
fossil fuel: 52.2%
hydro: 40.8%
nuclear: 6.7%
other: 0.2% (2001)
Electricity - consumption
104.7 billion kWh (2008 est.)
Electricity - exports
3 billion kWh (2009 est.)
Electricity - imports
5.53 billion kWh (2009 est.)
Oil - production
763,600 bbl/day (2010 est.)
Oil - consumption
618,000 bbl/day (2010 est.)
Oil - exports

238,100 bbl/day (2009 est.)
Oil - imports

19,380 bbl/day (2009 est.)
Oil - proved reserves
2.505 billion bbl (1 January 2011 est.)
Natural gas - production
40.1 billion cu m (2010 est.)
Natural gas - consumption
43.46 billion cu m (2010 est.)
Natural gas - exports

880 million cu m (2009 est.)
Natural gas - imports
3.78 billion cu m (2010 est.)
Natural gas - proved reserves
378.8 billion cu m (1 January 2011 est.)
Current Account Balance
-$264.1 million (2011 est.)
 $3.081 billion (2010 est.)
Exports
$83.71 billion (2011 est.)
 $68.13 billion (2010 est.)
Exports - commodities
soybeans and derivatives, petroleum and gas, vehicles, corn, wheat
Exports - partners
Brazil 21.2%, China 9.1%, Chile 7%, US 5.4% (2009)
Imports
$71.73 billion (2011 est.)
 $53.87 billion (2010 est.)
Imports - commodities
machinery, motor vehicles, petroleum and natural gas, organic chemicals, plastics
Imports - partners
Brazil 34.5%, US 13.8%, China 11.4%, Germany 5% (2009)
Reserves of foreign exchange and gold
$53.35 billion (31 December 2011 est.)
 $52.23 billion (31 December 2010 est.)
Debt - external
$136 billion (31 December 2011 est.)
 $128 billion (31 December 2010 est.)
Stock of direct foreign investment - at home
$93.35 billion (31 December 2011 est.)
 $86.35 billion (31 December 2010 est.)
Stock of direct foreign investment - abroad
$31.49 billion (31 December 2011 est.)
 $30.39 billion (31 December 2010 est.)
Exchange rates
Argentine pesos (ARS) per US dollar -
 4.132 (2011 est.)
 3.8963 (2010 est.)
 3.7101 (2009)
 3.1636 (2008)
 3.1105 (2007

Canada Economy Profile 2012

 

Economy

As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its great natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economiccrisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada''s major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector''s tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010 and 2011 and plans to balance the budget by 2015. In addition, the country''s petroleum sector is rapidly becoming an even larger economic driver with Alberta''s oil sands significantly boosting Canada''s proven oil reserves, ranking the country third in the world behind Saudi Arabia and Venezuela.

GDP (purchasing power parity)

$1.389 trillion (2011 est.)
$1.359 trillion (2010 est.)
$1.318 trillion (2009 est.)
note: data are in 2011 US dollars

GDP (official exchange rate)

$1.759 trillion (2011 est.)

GDP - real growth rate

2.2% (2011 est.)
3.1% (2010 est.)
-2.5% (2009 est.)

GDP - per capita (PPP)

$40,300 (2011 est.)
$39,100 (2010 est.)
$37,900 (2009 est.)
note: data are in 2011 US dollars

GDP - composition by sector

agriculture: 1.9%
industry: 27.1%
services: 71% (2011 est.)

Population below poverty line

9.4%
note: this figure is the Low Income Cut-Off (LICO), a calculation that results in higher figures than found in many comparable economies; Canada does not have an official poverty line (2008)

Labor force

18.67 million (2011 est.)

Labor force - by occupation

agriculture: 2%
manufacturing: 13%
construction: 6%
services: 76%
other: 3% (2006 est.)

Unemployment rate

7.5% (2011 est.)
8% (2010 est.)

Unemployment, youth ages 15-24

total: 15.3%
male: 18.1%
female: 12.4% (2009)

Household income or consumption by percentage share

lowest 10%: 2.6%
highest 10%: 24.8% (2000)

Distribution of family income - Gini index

32.1 (2005)
31.5 (1994)

Investment (gross fixed)

22.6% of GDP (2011 est.)

Budget

revenues: $660.2 billion
expenditures: $747.8 billion (2011 est.)

Taxes and other revenues

38.5% of GDP (2011 est.)

Budget surplus (+) or deficit (-)

-3.8% of GDP (2011 est.)

Public debt

83.5% of GDP (2011 est.)
84% of GDP (2010 est.)
note: figures are for gross general government debt, as opposed to net federal debt; gross general government debt includes both intragovernmental debt and the debt of public entities at the sub-national level

Inflation rate (consumer prices)

2.8% (2011 est.)
1.8% (2010 est.)

Central bank discount rate

1% (31 December 2010 est.)
0.25% (31 December 2009 est.)

Commercial bank prime lending rate

3% (31 December 2011 est.)
2.604% (31 December 2010 est.)

Stock of narrow money

$626 billion (31 December 2011 est.)
$585.5 billion (31 December 2010 est.)

Stock of money

$356.2 billion (31 December 2008)
$391.6 billion (31 December 2007)

Stock of quasi money

$1.299 trillion (31 December 2008)
$1.381 trillion (31 December 2007)

Stock of broad money

$1.433 trillion (31 December 2011 est.)
$1.356 trillion (31 December 2010 est.)

Stock of domestic credit

$2.731 trillion (31 December 2010 est.)
$2.488 trillion (31 December 2009 est.)

Market value of publicly traded shares

$2.16 trillion (31 December 2010)
$1.681 trillion (31 December 2009)
$1.002 trillion (31 December 2008)

Agriculture - products

wheat, barley, oilseed, tobacco, fruits, vegetables; dairy products; fish; forest products

Industries

transportation equipment, chemicals, processed and unprocessed minerals, food products, wood and paper products, fish products, petroleum and natural gas

Industrial production growth rate

3.7% (2011 est.)

Electricity - production

604.4 billion kWh (2009 est.)

Electricity - production by source

fossil fuel: 28%
hydro: 57.9%
nuclear: 12.9%
other: 1.3% (2001)

Electricity - consumption

549.5 billion kWh (2008 est.)

Electricity - exports

51.11 billion kWh (2009 est.)

Electricity - imports

33.62 billion kWh (2009 est.)

Oil - production

3.483 million bbl/day (2010 est.)

Oil - consumption

2.209 million bbl/day (2010 est.)

Oil - exports

1.929 million bbl/day (2009 est.)

Oil - imports

1.088 million bbl/day (2009 est.)

Oil - proved reserves

175.2 billion bbl
note: includes oil sands (1 January 2011 est.)

Natural gas - production

152.3 billion cu m (2010 est.)

Natural gas - consumption

82.48 billion cu m (2010 est.)

Natural gas - exports

92.4 billion cu m (2010 est.)

Natural gas - imports

22.53 billion cu m (2010 est.)

Natural gas - proved reserves

1.754 trillion cu m (1 January 2011 est.)

Current Account Balance

-$52.6 billion (2011 est.)
-$49.37 billion (2010 est.)

Exports

$450.6 billion (2011 est.)
$393 billion (2010 est.)

Exports - commodities

motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity, aluminum

Exports - partners

US 74.9%, UK 4.1% (2009)

Imports

$459.6 billion (2011 est.)
$401.7 billion (2010 est.)

Imports - commodities

machinery and equipment, motor vehicles and parts, crude oil, chemicals, electricity, durable consumer goods

Imports - partners

US 50.4%, China 11%, Mexico 5.5% (2009)

Reserves of foreign exchange and gold

$57.15 billion (31 December 2010 est.)

Debt - external

$1.181 trillion (30 June 2011)
$1.009 trillion (30 June 2010)

Stock of direct foreign investment - at home

$596.8 billion (31 December 2011 est.)
$561.1 billion (31 December 2010 est.)

Stock of direct foreign investment - abroad

$659.8 billion (31 December 2011 est.)
$616.1 billion (31 December 2010 est.)

Albania Economy Profile 2012

Albania, a formerly closed, centrally-planned state, is making the difficult transition to a more modern open-market economy. Macroeconomic growth averaged around 6% between 2004-08, but declined to about 3% in 2009-11. Inflation is low and stable. The government has taken measures to curb violent crime, and recently adopted a fiscal reform package aimed at reducing the large gray economy and attracting foreign investment. Remittances, a significant catalyst for economic growth declined from 12-15% of GDP before the 2008 financial crisis to 8% of GDP in 2010, mostly from Albanians residing in Greece and Italy. The agricultural sector, which accounts for almost half of employment but only about one-fifth of GDP, is limited primarily to small family operations and subsistence farming because of lack of modern equipment, unclear property rights, and the prevalence of small, inefficient plots of land. Energy shortages because of a reliance on hydropower - 98% of the electrical power produced in Albania - and antiquated and inadequate infrastructure contribute to Albania's poor business environment and lack of success in attracting new foreign investment needed to expand the country's export base. FDI is among the lowest in the region, but the government has embarked on an ambitious program to improve the business climate through fiscal and legislative reforms. The completion of a new thermal power plant near Vlore has helped diversify generation capacity, and plans to upgrade transmission lines between Albania and Montenegro and Kosovo would help relieve the energy shortages. Also, with help from EU funds, the government is taking steps to improve the poor national road and rail network, a long-standing barrier to sustained economic growth. The country will continue to face challenges from increasing public debt, approaching its statutory limit of 60% of GDP. Strong trade, remittance, and banking sector ties with Greece and Italy make Albania vulnerable to spillover effects of the global financial crisis.

GDP (purchasing power parity)

$24.99 billion (2011 est.)
$24.38 billion (2010 est.)
$23.56 billion (2009 est.)
note: data are in 2011 US dollars
Albania has an informal, and unreported, sector that may be as large as 50% of official GDP

GDP (official exchange rate)

$13.3 billion (2011 est.)

GDP - real growth rate

2.5% (2011 est.)
3.5% (2010 est.)
3.3% (2009 est.)

GDP - per capita (PPP)

$7,800 (2011 est.)
$7,600 (2010 est.)
$7,400 (2009 est.)
note: data are in 2011 US dollars

GDP - composition by sector

agriculture: 20.7%
industry: 19.7%
services: 59.6% (2011 est.)

Population below poverty line

12.5% (2008 est.)

Labor force

1.053 million (2010 est.)

Labor force - by occupation

agriculture: 47.8%
industry: 23%
services: 29.2% (September 2010 est.)

Unemployment rate

13.3% (2011 est.)
13.7% (2010 est.)
note: these are official rates, but actual rates may exceed 30% due to preponderance of near-subsistence farming

Unemployment, youth ages 15-24

total: 35.5%
male: 41.6%
female: 27.1% (2001)

Household income or consumption by percentage share

lowest 10%: 3.5%
highest 10%: 29% (2008)

Distribution of family income - Gini index

34.5 (2008)
26.7 (2005)

Investment (gross fixed)

29.9% of GDP (2011 est.)

Budget

revenues: $3.405 billion
expenditures: $3.87 billion (2011 est.)

Taxes and other revenues

25.6% of GDP (2011 est.)

Budget surplus (+) or deficit (-)

-3.5% of GDP (2011 est.)

Public debt

59.4% of GDP (2011 est.)
57.1% of GDP (2010 est.)

Inflation rate (consumer prices)

3.9% (2011 est.)
3.5% (2010 est.)

Central bank discount rate

5% (31 December 2010 est.)
5.25% (31 December 2009 est.)

Commercial bank prime lending rate

13.2% (31 December 2011 est.)
12.833% (31 December 2010 est.)

Stock of money

$3.028 billion (31 December 2008)
$2.707 billion (31 December 2007)

Stock of narrow money

$2.741 billion (31 December 2011 est.)
$2.648 billion (31 December 2010 est.)

Stock of quasi money

$6.251 billion (31 December 2008)
$6.433 billion (31 December 2007)

Stock of broad money

$6.37 billion (31 December 2011 est.)
$9.426 billion (31 December 2010 est.)

Stock of domestic credit

$8.506 billion (31 December 2011 est.)
$7.948 billion (31 December 2010 est.)

Market value of publicly traded shares

$NA

Agriculture - products

wheat, corn, potatoes, vegetables, fruits, sugar beets, grapes; meat, dairy products

Industries

food processing, textiles and clothing; lumber, oil, cement, chemicals, mining, basic metals, hydropower

Industrial production growth rate

3% (2010 est.)

Electricity - production

5.201 billion kWh (2009 est.)

Electricity - production by source

fossil fuel: 2.9%
hydro: 97.1%
nuclear: 0%
other: 0% (2001)

Electricity - consumption

6.593 billion kWh
note: 35% of electricity is lost in the system as a result of transmission inefficiencies and theft (2009 est.)

Electricity - exports

0 kWh (2009 est.)

Electricity - imports

1.884 billion kWh (2009 est.)

Oil - production

10,930 bbl/day (2010 est.)

Oil - consumption

33,000 bbl/day (2010 est.)

Oil - exports

1,004 bbl/day (2009 est.)

Oil - imports

22,880 bbl/day (2009 est.)

Oil - proved reserves

199.1 million bbl (1 January 2011 est.)

Natural gas - production

30 million cu m (2009 est.)

Natural gas - consumption

30 million cu m (2009 est.)

Natural gas - exports

0 cu m (2010 est.)

Natural gas - imports

0 cu m (2010 est.)

Natural gas - proved reserves

849.5 million cu m (1 January 2011 est.)

Current Account Balance

-$1.38 billion (2011 est.)
-$1.404 billion (2010 est.)

Exports

$1.886 billion (2011 est.)
$1.548 billion (2010 est.)

Exports - commodities

textiles and footwear; asphalt, metals and metallic ores, crude oil; vegetables, fruits, tobacco

Exports - partners

Italy 50.8%, Kosovo 6.2%, Turkey 5.9%, Greece 5.4%, China 5.5% (2010 est.)

Imports

$5.022 billion (2011 est.)
$4.305 billion (2010 est.)

Imports - commodities

machinery and equipment, foodstuffs, textiles, chemicals

Imports - partners

Italy 28%, Greece 13%, China 6.3%, Turkey 5.6%, Germany 5.6% (2010 est.)

Reserves of foreign exchange and gold

$2.725 billion (31 December 2011 est.)
$2.541 billion (31 December 2010 est.)

Debt - external

$5.7 billion (31 December 2011 est.)
$5 billion (31 December 2010 est.)

Italy Economy Profile 2012

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with high unemployment. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but exceptionally high public debt burdens and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, reaching 120% of GDP in 2011, and borrowing costs on sovereign government debt have risen to record levels. During the second half of 2011 the government passed a series of three austerity packages to balance its budget by 2013 and decrease its public debt burden. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to address Italy's long-standing structural impediments to growth, such as an inflexible labor market and widespread tax evasion. The international financial crisis worsened conditions in Italy''s labor market, with unemployment rising from 6.2% in 2007 to 8.4% in 2011, but in the longer-term Italy''s low fertility rate and quota-driven immigration policies will increasingly strain its economy. The euro-zone crisis along with Italian austerity measures have reduced exports and domestic demand, slowing Italy''s recovery. Italy''s GDP is still 5% below its 2007 pre-crisis level.

GDP (purchasing power parity)

$1.822 trillion (2011 est.)
$1.814 trillion (2010 est.)
$1.791 trillion (2009 est.)
note: data are in 2011 US dollars

GDP (official exchange rate)

$2.246 trillion (2011 est.)

GDP - real growth rate

0.4% (2011 est.)
1.3% (2010 est.)
-5.2% (2009 est.)

GDP - per capita (PPP)

$30,100 (2011 est.)
$30,100 (2010 est.)
$29,800 (2009 est.)
note: data are in 2011 US dollars

GDP - composition by sector

agriculture: 2%
industry: 24.7%
services: 73.4% (2011 est.)

Population below poverty line

NA%

Labor force

25.08 million (2011 est.)

Labor force - by occupation

agriculture: 3.9%
industry: 28.3%
services: 67.8% (2011)

Unemployment rate

8.4% (2011 est.)
8.4% (2010 est.)

Unemployment, youth ages 15-24

total: 25.4%
male: 23.3%
female: 28.7% (2009)

Household income or consumption by percentage share

lowest 10%: 2.3%
highest 10%: 26.8% (2000)

Distribution of family income - Gini index

32 (2006)
27.3 (1995)

Investment (gross fixed)

20.5% of GDP (2011 est.)

Budget

revenues: $1.025 trillion
expenditures: $1.112 trillion (2011 est.)

Taxes and other revenues

46.4% of GDP (2011 est.)

Budget surplus (+) or deficit (-)

-3.6% of GDP (2011 est.)

Public debt

120.1% of GDP (2011 est.)
119.1% of GDP (2010 est.)
note: Italy reports its data on public debt according to guidelines set out in the Maastricht Treaty; general government gross debt is defined in the Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year, in the following categories of government liabilities (as defined in ESA95): currency and deposits (AF.2), securities other than shares excluding financial derivatives (AF.3, excluding AF.34), and loans (AF.4); the general government sector comprises the central government, state government, local government and social security funds

Inflation rate (consumer prices)

2.8% (2011 est.)
1.7% (2010)

Central bank discount rate

1.75% (31 December 2011)
1.75% (31 December 2010)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area

Commercial bank prime lending rate

4.5% (31 December 2011 est.)
4.032% (31 December 2010 est.)

Stock of narrow money

$1.265 trillion (31 December 2011 est.)
$1.205 trillion (31 December 2010 est.)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders

Stock of broad money

$2.269 trillion (31 December 2011 est.)
$2.065 trillion (31 December 2010 est.)

Stock of domestic credit

$3.469 trillion (31 December 2011 est.)
$3.221 trillion (31 December 2010 est.)

Market value of publicly traded shares

$318.1 billion (31 December 2010)
$317.3 billion (31 December 2009)
$520.9 billion (31 December 2008)

Agriculture - products

fruits, vegetables, grapes, potatoes, sugar beets, soybeans, grain, olives; beef, dairy products; fish

Industries

tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics

Industrial production growth rate

0.2% (2011 est.)

Electricity - production

290.7 billion kWh (2010 est.)

Electricity - production by source

fossil fuel: 78.6%
hydro: 18.4%
nuclear: 0%
other: 3% (2001)

Electricity - consumption

309.9 billion kWh (2010 est.)

Electricity - exports

1.826 billion kWh (2010 est.)

Electricity - imports

4.599 billion kWh (2010 est.)

Oil - production

151,800 bbl/day (2010 est.)

Oil - consumption

1.528 million bbl/day (2010 est.)

Oil - exports

529,100 bbl/day (2009 est.)

Oil - imports

1.8 million bbl/day (2009 est.)

Oil - proved reserves

476.5 million bbl (1 January 2011 est.)

Natural gas - production

8.4 billion cu m (2011 est.)

Natural gas - consumption

77.8 billion cu m (2011 est.)

Natural gas - exports

139 million cu m (2010 est.)

Natural gas - imports

70.2 billion cu m (2011 est.)

Natural gas - proved reserves

63.57 billion cu m (1 January 2011 est.)

Current Account Balance

-$77.8 billion (2011 est.)
-$67.94 billion (2010 est.)

Exports

$522 billion (2011 est.)
$448.4 billion (2010 est.)

Exports - commodities

engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; food, beverages and tobacco; minerals, and nonferrous metals

Exports - partners

Germany 13%, France 11.6%, US 6%, Spain 5.9%, UK 5.2%, Switzerland 4.7% (2009)

Imports

$556.4 billion (2011 est.)
$473.1 billion (2010 est.)

Imports - commodities

engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, and tobacco

Imports - partners

Germany 16.1%, France 8.8%, China 7.8%, Netherlands 5.4%, Spain 4.6% (2009)

Reserves of foreign exchange and gold

$158.9 billion (31 December 2010 est.)
$132.8 billion (31 December 2009 est.)

Debt - external

$2.684 trillion (30 June 2011 est.)
$2.223 trillion (30 June 2010 est.)

Stock of direct foreign investment - at home

$412.1 billion (31 December 2011 est.)
$403 billion (31 December 2010 est.)

Stock of direct foreign investment - abroad

$630.5 billion (31 December 2011 est.)
$601.4 billion (31 December 2010 est.)

Germany Economy Profile 2012

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.

GDP (purchasing power parity)

$3.085 trillion (2011 est.)
$3.003 trillion (2010 est.)
$2.9 trillion (2009 est.)
note: data are in 2011 US dollars

GDP (official exchange rate)

$3.629 trillion (2011 est.)

GDP - real growth rate

2.7% (2011 est.)
3.6% (2010 est.)
-5.1% (2009 est.)

GDP - per capita (PPP)

$37,900 (2011 est.)
$36,800 (2010 est.)
$35,500 (2009 est.)
note: data are in 2011 US dollars

GDP - composition by sector

agriculture: 0.8%
industry: 28.6%
services: 70.6% (2011 est.)

Population below poverty line

15.5% (2010 est.)

Labor force

43.62 million (2011 est.)

Labor force - by occupation

agriculture: 1.6%
industry: 24.6%
services: 73.8% (2011)

Unemployment rate

6% (2011 est.)
6.8% (2010 est.)
note: this is the International Labor Organization's rate for international comparisons; Germany's Federal Employment Agency reported an annual average unemployment rate of 7.1% for 2011 and 7.7% for 2010.

Unemployment, youth ages 15-24

total: 11%
male: 12%
female: 9.8% (2009)

Household income or consumption by percentage share

lowest 10%: 3.6%
highest 10%: 24% (2000)

Distribution of family income - Gini index

27 (2006)
30 (1994)

Investment (gross fixed)

18.2% of GDP (2011 est.)

Budget

revenues: $1.551 trillion
expenditures: $1.588 trillion (2011 est.)

Taxes and other revenues

43.6% of GDP (2011 est.)

Budget surplus (+) or deficit (-)

-1.7% of GDP (2011 est.)

Public debt

81.5% of GDP (2011 est.)
83.4% of GDP (2010 est.)
note: general government gross debt is defined in the Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year in the following categories of government liabilities (as defined in ESA95): currency and deposits (AF.2), securities other than shares excluding financial derivatives (AF.3, excluding AF.34), and loans (AF.4); the general government sector comprises the sub-sectors of central government, state government, local government and social security funds; the series are presented as a percentage of GDP and in millions of euro; GDP used as a denominator is the gross domestic product at current market prices; data expressed in national currency are converted into euro using end-year exchange rates provided by the European Central Bank

Inflation rate (consumer prices)

2.2% (2011 est.)
1.1% (2010 est.)

Central bank discount rate

1.75% (31 December 2011)
1.75% (31 December 2010)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area

Commercial bank prime lending rate

8.4% (31 December 2011 est.)
4.96% (31 December 2009 est.)

Stock of narrow money

$1.831 trillion (31 December 2011 est.)
$1.747 trillion (31 December 2010 est.)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders

Stock of money

$NA
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money and quasi money circulating within their own borders

Stock of quasi money

$NA

Stock of broad money

$4.437 trillion (31 December 2011 est.)
$4.173 trillion (31 December 2010 est.)

Stock of domestic credit

$4.689 trillion (31 December 2011 est.)
$5.2 trillion (31 December 2009 est.)

Market value of publicly traded shares

$1.43 trillion (31 December 2010)
$1.298 trillion (31 December 2009)
$1.108 trillion (31 December 2008)

Agriculture - products

potatoes, wheat, barley, sugar beets, fruit, cabbages; cattle, pigs, poultry

Industries

among the world's largest and most technologically advanced producers of iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics, food and beverages, shipbuilding, textiles

Industrial production growth rate

8% (2011 est.)

Electricity - production

556.4 billion kWh (2009 est.)

Electricity - production by source

fossil fuel: 61.8%
hydro: 4.2%
nuclear: 29.9%
other: 4.1% (2001)

Electricity - consumption

544.5 billion kWh (2008 est.)

Electricity - exports

54.13 billion kWh (2009 est.)

Electricity - imports

12.28 billion kWh (2009 est.)

Oil - production

147,200 bbl/day (2010 est.)

Oil - consumption

2.495 million bbl/day (2010 est.)

Oil - exports

470,200 bbl/day (2009 est.)

Oil - imports

2.671 million bbl/day (2009 est.)

Oil - proved reserves

276 million bbl (1 January 2011 est.)

Natural gas - production

12.65 billion cu m (2010 est.)

Natural gas - consumption

99.5 billion cu m (2010 est.)

Natural gas - exports

16.19 billion cu m (2010 est.)

Natural gas - imports

99.63 billion cu m (2010 est.)

Natural gas - proved reserves

175.6 billion cu m (1 January 2011 est.)

Current Account Balance

$149.3 billion (2011 est.)
$188.4 billion (2010 est.)

Exports

$1.408 trillion (2011 est.)
$1.264 trillion (2010 est.)

Exports - commodities

motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals, transport equipment, foodstuffs, textiles, rubber and plastic products

Exports - partners

France 9.4%, US 6.8%, Netherlands 6.6%, UK 6.2%, Italy 6.2%, China 5.7%, Austria 5.5%, Belgium 4.7%, Switzerland 4.4% (2009 est.)

Imports

$1.198 trillion (2011 est.)
$1.058 trillion (2010 est.)

Imports - commodities

machinery, data processing equipment, vehicles, chemicals, oil and gas, metals, electric equipment, pharmaceuticals, foodstuffs, agricultural products

Imports - partners

China 9.7%, Netherlands 8.4%, France 7.6%, US 5.7%, Italy 5.2%, UK 4.7%, Belgium 4.2%, Austria 4.1%, Switzerland 4.1% (2009 est.)

Reserves of foreign exchange and gold

$216.5 billion (31 December 2010 est.)

Debt - external

$5.624 trillion (30 June 2011)
$4.713 trillion (30 June 2010)

Stock of direct foreign investment - at home

$998.1 billion (31 December 2011 est.)
$956.6 billion (31 December 2010 est.)

Stock of direct foreign investment - abroad

$1.486 trillion (31 December 2011 est.)
$1.427 trillion (31 December 2010 est.)

Ukraine Economy Profile 2012

After Russia, the Ukrainian republic was the most important economic component of the former Soviet Union, producing about four times the output of the next-ranking republic. Its fertile black soil generated more than one-fourth of Soviet agricultural output, and its farms provided substantial quantities of meat, milk, grain, and vegetables to other republics. Likewise, its diversified heavy industry supplied the unique equipment (for example, large diameter pipes) and raw materials to industrial and mining sites (vertical drilling apparatus) in other regions of the former USSR. Shortly after independence in August 1991, the Ukrainian Government liberalized most prices and erected a legal framework for privatization, but widespread resistance to reform within the government and the legislature soon stalled reform efforts and led to some backtracking. Output by 1999 had fallen to less than 40% of the 1991 level. Ukraine's dependence on Russia for energy supplies and the lack of significant structural reform have made the Ukrainian economy vulnerable to external shocks. Ukraine depends on imports to meet about three-fourths of its annual oil and natural gas requirements and 100% of its nuclear fuel needs. After a two-week dispute that saw gas supplies cutoff to Europe, Ukraine agreed to 10-year gas supply and transit contracts with Russia in January 2009 that brought gas prices to "world" levels. The strict terms of the contracts have further hobbled Ukraine's cash-strapped state gas company, Naftohaz. Outside institutions - particularly the IMF - have encouraged Ukraine to quicken the pace and scope of reforms. Ukrainian Government officials eliminated most tax and customs privileges in a March 2005 budget law, bringing more economic activity out of Ukraine's large shadow economy, but more improvements are needed, including fighting corruption, developing capital markets, and improving the legislative framework. Ukraine's economy was buoyant despite political turmoil between the prime minister and president until mid-2008. Real GDP growth exceeded 7% in 2006-07, fueled by high global prices for steel - Ukraine's top export - and by strong domestic consumption, spurred by rising pensions and wages. A drop in steel prices and Ukraine's exposure to the global financial crisis due to aggressive foreign borrowing lowered growth in 2008. Ukraine reached an agreement with the IMF for a $16.4 billion Stand-By Arrangement in November 2008 to deal with the economic crisis, but the program quickly stalled due to the Ukrainian Government's lack of progress in implementing reforms. The economy contracted nearly 15% in 2009, among the worst economic performances in the world. In April 2010, Ukraine negotiated a price discount on Russian gas imports in exchange for extending Russia's lease on its naval base in Crimea. In August 2010, Ukraine, under the YANUKOVYCH Administration, reached a new agreement with the IMF for a $15.1 billion Stand-By Agreement to put the country on the path to fiscal sustainability, reform the gas sector, and shore up the country's banking system. Economic growth resumed in 2010 and 2011, buoyed by exports. After initial disbursements, the IMF program stalled in early 2011 due to the Ukrainian Government's lack of progress in implementing key gas sector reforms, namely gas tariff increases.

GDP (purchasing power parity)

$329 billion (2011 est.)
$312.7 billion (2010 est.)
$300.2 billion (2009 est.)
note: data are in 2011 US dollars

GDP (official exchange rate)

$162.9 billion (2011 est.)

GDP - real growth rate

5.2% (2011 est.)
4.2% (2010 est.)
-14.5% (2009 est.)

GDP - per capita (PPP)

$7,200 (2011 est.)
$6,800 (2010 est.)
$6,500 (2009 est.)
note: data are in 2011 US dollars

GDP - composition by sector

agriculture: 9.4%
industry: 34.4%
services: 56.2% (2011 est.)

Population below poverty line

35% (2009)

Labor force

22.09 million (2011 est.)

Labor force - by occupation

agriculture: 15.8%
industry: 18.5%
services: 65.7% (2008)

Unemployment rate

7% (2011 est.)
8.1% (2010 est.)
note: officially registered; large number of unregistered or underemployed workers

Unemployment, youth ages 15-24

total: 14.9%
male: 15.2%
female: 14.5% (2005)

Household income or consumption by percentage share

lowest 10%: 4.1%
highest 10%: 22.6% (2008)

Distribution of family income - Gini index

27.5 (2008)
29 (1999)

Investment (gross fixed)

20% of GDP (2011 est.)

Budget

revenues: $49.99 billion
expenditures: $56.39 billion
note: this is the planned, consolidated budget (2011 est.)

Taxes and other revenues

26.9% of GDP (2011 est.)

Budget surplus (+) or deficit (-)

-4% of GDP (2011 est.)

Public debt

44.8% of GDP (2011 est.)
42.3% of GDP (2010 est.)

Inflation rate (consumer prices)

9% (2011 est.)
9.4% (2010 est.)

Central bank discount rate

11.97% (31 December 2010 est.)
10.25% (31 December 2009 est.)

Commercial bank prime lending rate

15% (31 December 2011 est.)
15.869% (31 December 2010 est.)

Stock of money

$24.7 billion (31 December 2009)
$29.24 billion (31 December 2008)

Stock of narrow money

$43.42 billion (31 December 2011 est.)
$36.41 billion (31 December 2010 est.)

Stock of quasi money

$41.5 billion (31 December 2009)
$45.3 billion (31 December 2008)

Stock of broad money

$90.27 billion (31 December 2011 est.)
$74.96 billion (31 December 2010 est.)

Stock of domestic credit

$123.2 billion (31 December 2011 est.)
$108.1 billion (31 December 2010 est.)

Market value of publicly traded shares

$39.46 billion (31 December 2010)
$16.79 billion (31 December 2009)
$24.36 billion (31 December 2008)

Agriculture - products

grain, sugar beets, sunflower seeds, vegetables; beef, milk

Industries

coal, electric power, ferrous and nonferrous metals, machinery and transport equipment, chemicals, food processing

Industrial production growth rate

7.6% (2011 est.)

Electricity - production

172.9 billion kWh (2009 est.)

Electricity - production by source

fossil fuel: 48.6%
hydro: 7.9%
nuclear: 43.5%
other: 0% (2001)

Electricity - consumption

134.6 billion kWh (2009 est.)

Electricity - exports

4 billion kWh (2009 est.)

Electricity - imports

6.73 billion kWh (2008 est.)

Oil - production

82,000 bbl/day (2010 est.)

Oil - consumption

296,000 bbl/day (2010 est.)

Oil - exports

114,000 bbl/day (2009 est.)

Oil - imports

301,900 bbl/day (2009 est.)

Oil - proved reserves

395 million bbl (1 January 2011 est.)

Natural gas - production

20.26 billion cu m (2009 est.)

Natural gas - consumption

44.16 billion cu m (2009 est.)

Natural gas - exports

2.8 billion cu m (2009 est.)

Natural gas - imports

26.7 billion cu m (2009 est.)

Natural gas - proved reserves

1.104 trillion cu m (1 January 2011 est.)

Current Account Balance

-$5.695 billion (2011 est.)
-$2.884 billion (2010 est.)

Exports

$60.67 billion (2011 est.)
$52.19 billion (2010 est.)

Exports - commodities

ferrous and nonferrous metals, fuel and petroleum products, chemicals, machinery and transport equipment, food products

Exports - partners

Russia 24.1%, Turkey 5.9%, Italy 4.7% (2009 est.)

Imports

$72.08 billion (2011 est.)
$60.9 billion (2010 est.)

Imports - commodities

energy, machinery and equipment, chemicals

Imports - partners

Russia 33.9%, China 8.5%, Germany 8.1%, Poland 5.4%, Belarus 4.1% (2009 est.)

Reserves of foreign exchange and gold

$38.13 billion (31 December 2011 est.)
$34.58 billion (31 December 2010 est.)

Debt - external

$111.7 billion (31 December 2011 est.)
$99.51 billion (31 December 2010 est.)

Stock of direct foreign investment - at home

$59.3 billion (31 December 2011 est.)
$53.3 billion (31 December 2010 est.)

Stock of direct foreign investment - abroad

$3.203 billion (31 December 2011 est.)
$2.803 billion (31 December 2010 est.)