Togo:This small sub-Saharan economy is heavily dependent on bothcommercial and subsistence agriculture, which provides employmentfor 65% of the labor force. Some basic foodstuffs must still beimported. Together, cocoa, coffee, and cotton generate some 40% ofexport earnings, with cotton being the most significant cash cropdespite falling prices on the world market. In the industrialsector, phosphate mining is by far the most important activity. Togois the world's fourth largest producer, and geological advantageskeep production costs low. The recently privatized mining operation,Office Togolais des Phosphates (OTP), is slowly recovering from asteep fall in prices in the early 1990's, but continues to face thechallenge of tough foreign competition, exacerbated by weakeningdemand. Togo serves as a regional commercial and trade center. Itcontinues to expand its duty-free export-processing zone (EPZ),launched in 1989, which has attracted enterprises from France,Italy, Scandinavia, the US, India, and China and created jobs forTogolese nationals. The government's decade-long effort, supportedby the World Bank and the IMF, to implement economic reformmeasures, encourage foreign investment, and bring revenues in linewith expenditures has stalled. Progress depends on following throughon privatization, increased openness in government financialoperations, progress towards legislative elections, and possibledownsizing of the military, on which the regime has depended to stayin place. Lack of foreign aid, deterioration of the financialsector, energy shortages, and depressed commodity prices continue toconstrain economic growth; however, Togo did realize a 3% gain inGDP in 1999. The takeover of the national power company by aFranco-Canadian consortium in 2000 should ease the energy crisis andif successful legislative elections pave the way for increased aid,growth should rise to 5% a year in 2001-02.
Tokelau:Tokelau's small size (three villages), isolation, and lackof resources greatly restrain economic development and confineagriculture to the subsistence level. The people must rely on aidfrom New Zealand to maintain public services, annual aid beingsubstantially greater than GDP. The principal sources of revenuecome from sales of copra, postage stamps, souvenir coins, andhandicrafts. Money is also remitted to families from relatives inNew Zealand.
Tonga:Tonga has a small, open economy with a narrow export base inagricultural goods, which contributes 30% to GDP. Squash, coconuts,bananas, and vanilla beans are the main crops, and agriculturalexports make up two-thirds of total exports. The country must importa high proportion of its food, mainly from New Zealand. Theindustrial sector accounts for only 10% of GDP. Tourism is theprimary source of hard currency earnings. The country remainsdependent on sizable external aid and remittances from Tongancommunities overseas to offset its trade deficit. The government isemphasizing the development of the private sector, especially theencouragement of investment, and is committing increased funds forhealth and education. Tonga has a reasonable basic infrastructureand well-developed social services.
Trinidad and Tobago:Trinidad and Tobago has earned a reputation asan excellent investment site for international businesses.Successful economic reforms were implemented in 1995, and foreigninvestment and trade are flourishing. Persistently high unemploymentremains one of the chief challenges of the government. Thepetrochemical sector has spurred growth in other related sectors,reinforcing the government's commitment to economic diversification.Tourism is growing, especially in the pleasure boat sector. Newinvestment and construction also will continue to drive the economy.
Tromelin Island:no economic activity
Tunisia:Tunisia has a diverse economy, with important agricultural,mining, energy, tourism, and manufacturing sectors. Governmentalcontrol of economic affairs while still heavy has gradually lessenedover the past decade with increasing privatization, simplificationof the tax structure, and a prudent approach to debt. Real growthaveraged 5.5% in the past four years, and inflation is slowing.Growth in tourism and increased trade have been key elements in thissteady growth. Tunisia's association agreement with the EuropeanUnion entered into force on 1 March 1998, the first such accordbetween the EU and Mediterranean countries to be activated. Underthe agreement Tunisia will gradually remove barriers to trade withthe EU over the next decade. Broader privatization, furtherliberalization of the investment code to increase foreigninvestment, and improvements in government efficiency are among thechallenges for the future.
Turkey:Turkey's dynamic economy is a complex mix of modern industryand commerce along with traditional agriculture that still accountsfor nearly 40% of employment. It has a strong and rapidly growingprivate sector, yet the state still plays a major role in basicindustry, banking, transport, and communication. The most importantindustry - and largest exporter - is textiles and clothing, which isalmost entirely in private hands. In recent years the economicsituation has been marked by erratic economic growth and seriousimbalances. Real GNP growth has exceeded 6% in most years, but thisstrong expansion was interrupted by sharp declines in output in 1994and 1999. Meanwhile the public sector fiscal deficit has regularlyexceeded 10% of GDP - due in large part to the huge burden ofinterest payments, which now account for more than 40% of centralgovernment spending - while inflation has remained in the highdouble digit range. Perhaps because of these problems, foreigndirect investment in Turkey remains low - less than $1 billionannually. Prospects for the future are improving, however, becausethe ECEVIT government since June 1999 has been implementing anIMF-backed reform program, including a tighter budget, socialsecurity reform, banking reorganization, and acceleratedprivatization. As a result, the fiscal situation is greatly improvedand inflation has dropped below 40% - the lowest rate since 1987.The country experienced a financial crisis in late 2000, includingsharp drops in the stock market and foreign exchange reserves, butis recovering rapidly, thanks to additional IMF support and thegovernment's commitment to a specific timetable of economic reforms.
Turkmenistan:Turkmenistan is largely desert country with intensiveagriculture in irrigated oases and huge gas (fifth largest reservesin the world) and oil resources. One-half of its irrigated land isplanted in cotton, making it the world's tenth largest producer.Until the end of 1993, Turkmenistan had experienced less economicdisruption than other former Soviet states because its economyreceived a boost from higher prices for oil and gas and a sharpincrease in hard currency earnings. In 1994, Russia's refusal toexport Turkmen gas to hard currency markets and mounting debts ofits major customers in the former USSR for gas deliveriescontributed to a sharp fall in industrial production and caused thebudget to shift from a surplus to a slight deficit. With anauthoritarian ex-communist regime in power and a tribally basedsocial structure, Turkmenistan has taken a cautious approach toeconomic reform, hoping to use gas and cotton sales to sustain itsinefficient economy. Privatization goals remain limited. In1998-2000, Turkmenistan suffered from the continued lack of adequateexport routes for natural gas and from obligations on extensiveshort-term external debt. At the same time, however, total exportsrose sharply because of higher international oil and gas prices.Prospects in the near future are discouraging because of widespreadinternal poverty and the burden of foreign debt. IMF assistancewould seem to be necessary, yet the government is not as yet readyto accept IMF requirements. Turkmenistan's 1999 deal to ship 20billion cubic meters (bcm) of natural gas through Russia's Gazprompipeline helped alleviate the 2000 fiscal shortfall. Inadequatefiscal restraint and the tenuous nature of Turkmenistan's 2001 gasdeals, combined with a lack of economic reform, will limit progressin the near term.
Turks and Caicos Islands:The Turks and Caicos economy is based ontourism, fishing, and offshore financial services. Most capitalgoods and food for domestic consumption are imported. The US was theleading source of tourists in 1996, accounting for more than half ofthe 87,000 visitors; tourist arrivals had risen to 93,000 by 1998.Major sources of government revenue include fees from offshorefinancial activities and customs receipts.
Tuvalu:Tuvalu consists of a densely populated, scattered group ofnine coral atolls with poor soil. The country has no known mineralresources and few exports. Subsistence farming and fishing are theprimary economic activities. Government revenues largely come fromthe sale of stamps and coins and worker remittances. About 1,000Tuvaluans work in Nauru in the phosphate mining industry. Nauru hasbegun repatriating Tuvaluans, however, as phosphate resourcesdecline. Substantial income is received annually from aninternational trust fund established in 1987 by Australia, NZ, andthe UK and supported also by Japan and South Korea. Thanks to wiseinvestments and conservative withdrawals, this Fund has grown froman initial $17 million to over $35 million in 1999. The USgovernment is also a major revenue source for Tuvalu, with 1999payments from a 1988 treaty on fisheries at about $9 million, atotal which is expected to rise annually. In an effort to reduce itsdependence on foreign aid, the government is pursuing public sectorreforms, including privatization of some government functions andpersonnel cuts of up to 7%. In 1998, Tuvalu began deriving revenuefrom use of its area code for "900" lines and in 2000, from the saleof its ".tv" Internet domain name. Royalties from these newtechnology sources could raise GDP three or more times over the nextdecade. In 1999, with merchandise exports falling and financingreaching less than 5% of imports, continued reliance was placed onfishing and telecommunications license fees, remittances fromoverseas workers, official transfers, and investment income fromoverseas assets to cover the trade deficit.
Uganda:Uganda has substantial natural resources, including fertilesoils, regular rainfall, and sizable mineral deposits of copper andcobalt. Agriculture is the most important sector of the economy,employing over 80% of the work force. Coffee is the major exportcrop and accounts for the bulk of export revenues. Since 1986, thegovernment - with the support of foreign countries and internationalagencies - has acted to rehabilitate and stabilize the economy byundertaking currency reform, raising producer prices on exportcrops, increasing prices of petroleum products, and improving civilservice wages. The policy changes are especially aimed at dampeninginflation and boosting production and export earnings. In 1990-2000,the economy turned in a solid performance based on continuedinvestment in the rehabilitation of infrastructure, improvedincentives for production and exports, reduced inflation, graduallyimproved domestic security, and the return of exiled Indian-Ugandanentrepreneurs. Ongoing Ugandan involvement in the war in theDemocratic Republic of the Congo, corruption within the government,and slippage in the government's determination to press reformsraise doubts about the continuation of strong growth. In 2000,Uganda qualified for enhanced HIPC debt relief worth $1.3 billionand Paris Club debt relief worth $145 million. These amountscombined with the original Highly Indebted Poor Countries HIPC debtrelief add up to about $2 billion. Growth for 2001 should besomewhat lower than in 2000, because of a decline in the price ofcoffee, Uganda's principal export.
Ukraine:After Russia, the Ukrainian republic was far and away themost 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 Sovietagricultural output, and its farms provided substantial quantitiesof meat, milk, grain, and vegetables to other republics. Likewise,its diversified heavy industry supplied the unique equipment (forexample, large diameter pipes) and raw materials to industrial andmining sites (vertical drilling apparatus) in other regions of theformer USSR. Ukraine depends on imports of energy, especiallynatural gas, to meet some 85% of its annual energy requirements.Shortly after independence in late 1991, the Ukrainian Governmentliberalized most prices and erected a legal framework forprivatization, but widespread resistance to reform within thegovernment and the legislature soon stalled reform efforts and ledto some backtracking. Output in 1992-99 fell to less than 40% the1991 level. Loose monetary policies pushed inflation tohyperinflationary levels in late 1993. Ukraine's dependence onRussia for energy supplies and the lack of significant structuralreform have made the Ukrainian economy vulnerable to externalshocks. Now in his second term, President KUCHMA has pledged toreduce the number of government agencies and streamline theregulation process, create a legal environment to encourageentrepreneurs and protect ownership rights, and enact acomprehensive tax overhaul. Reforms in the more politicallysensitive areas of structural reform and land privatization arestill lagging. Outside institutions - particularly the IMF - haveencouraged Ukraine to quicken the pace and scope of reforms and havethreatened to withdraw financial support. GDP in 2000 showed strongexport-based growth of 6% - the first growth since independence -and industrial production grew 12.9%. As the capacity for furtherexport-based economic expansion diminishes, GDP growth in 2001 islikely to decline to around 3%.
United Arab Emirates:The UAE has an open economy with a high percapita income and a sizable annual trade surplus. Its wealth isbased on oil and gas output (about 33% of GDP), and the fortunes ofthe economy fluctuate with the prices of those commodities. Since1973, the UAE has undergone a profound transformation from animpoverished region of small desert principalities to a modern statewith a high standard of living. At present levels of production, oiland gas reserves should last for more than 100 years. Despite higheroil revenues in 1999-2000, the government has not drawn back fromthe economic reforms implemented during the 1998 oil pricedepression. The government has increased spending on job creationand infrastructure expansion and is opening up its utilities togreater private-sector involvement.
United Kingdom:The UK, a leading trading power and financialcenter, deploys an essentially capitalistic economy, one of thequartet of trillion dollar economies of Western Europe. Over thepast two decades the government has greatly reduced public ownershipand contained the growth of social welfare programs. Agriculture isintensive, highly mechanized, and efficient by European standards,producing about 60% of food needs with only 1% of the labor force.The UK has large coal, natural gas, and oil reserves; primary energyproduction accounts for 10% of GDP, one of the highest shares of anyindustrial nation. Services, particularly banking, insurance, andbusiness services, account by far for the largest proportion of GDPwhile industry continues to decline in importance. The economy hasgrown steadily, at just above or below 3%, for the last severalyears. The BLAIR government has put off the question ofparticipation in the euro system until after the next election, inJune of 2001; Chancellor of the Exchequer BROWN has identified somekey economic tests to determine whether the UK should join thecommon currency system, but it will largely be a political decision.A serious short-term problem is foot-and-mouth disease, which byearly 2001 had broken out in nearly 600 farms and slaughterhousesand had resulted in the killing of 400,000 animals.
United States:The US has the largest and most technologicallypowerful economy in the world, with a per capita GDP of $36,200. Inthis market-oriented economy, private individuals and business firmsmake most of the decisions, and government buys needed goods andservices predominantly in the private marketplace. US business firmsenjoy considerably greater flexibility than their counterparts inWestern Europe and Japan in decisions to expand capital plant, layoff surplus workers, and develop new products. At the same time,they face higher barriers to entry in their rivals' home marketsthan the barriers to entry of foreign firms in US markets. US firmsare at or near the forefront in technological advances, especiallyin computers and in medical, aerospace, and military equipment,although their advantage has narrowed since the end of World War II.The onrush of technology largely explains the gradual development ofa "two-tier labor market" in which those at the bottom lack theeducation and the professional/technical skills of those at the topand, more and more, fail to get comparable pay raises, healthinsurance coverage, and other benefits. Since 1975, practically allthe gains in household income have gone to the top 20% ofhouseholds. The years 1994-2000 witnessed solid increases in realoutput, low inflation rates, and a drop in unemployment to below 5%.Long-term problems include inadequate investment in economicinfrastructure, rapidly rising medical costs of an aging population,sizable trade deficits, and stagnation of family income in the lowereconomic groups. Growth weakened in the fourth quarter of 2000;growth for the year 2001 almost certainly will be substantiallylower than the strong 5% of 2000. The outlook for 2001 is furtherclouded by the continued economic problems of Japan, Russia,Indonesia, Brazil, and many other countries.
Uruguay:Uruguay's economy is characterized by an export-orientedagricultural sector, a well-educated workforce, relatively evenincome distribution, and high levels of social spending. Afteraveraging growth of 5% annually in 1996-98, in 1999-2000 the economysuffered from lower demand in Argentina and Brazil, which togetheraccount for about half of Uruguay's exports. Despite the severity ofthe trade shocks, Uruguay's financial indicators remained morestable than those of its neighbors, a reflection of its solidreputation among investors and its investment-grade sovereign bondrating - one of only two in Latin America. Challenges for thegovernment of President Jorge BATLLE include expanding Uruguay'strade ties beyond its MERCOSUR trade partners and reducing the costsof public services. GDP fell by 1.1% in 2000 and will grow byperhaps 1.5% in 2001.
Uzbekistan:Uzbekistan is a dry, landlocked country of which 10%consists of intensely cultivated, irrigated river valleys. More than60% of its population lives in densely populated rural communities.Uzbekistan is now the world's third largest cotton exporter, a largeproducer of gold and oil, and a regionally significant producer ofchemicals and machinery. Following independence in December 1991,the government sought to prop up its Soviet-style command economywith subsidies and tight controls on production and prices. Facedwith high rates of inflation, however, the government began toreform in mid-1994, by introducing tighter monetary policies,expanding privatization, slightly reducing the role of the state inthe economy, and improving the environment for foreign investors.The state continues to be a dominating influence in the economy andhas so far failed to bring about much-needed structural changes. TheIMF suspended Uzbekistan's $185 million standby arrangement in late1996 because of governmental steps that made impossible fulfillmentof Fund conditions. Uzbekistan has responded to the negativeexternal conditions generated by the Asian and Russian financialcrises by tightening export and currency controls within its alreadylargely closed economy. Economic policies that have repelled foreigninvestment are a major factor in the economy's stagnation. A growingdebt burden, persistent inflation, and a poor business climate ledto stagnant growth in 2000, with little improvement predicted for2001.
Vanuatu:The economy is based primarily on subsistence orsmall-scale agriculture which provides a living for 65% of thepopulation. Fishing, offshore financial services, and tourism, withabout 50,000 visitors in 1997, are other mainstays of the economy.Mineral deposits are negligible; the country has no known petroleumdeposits. A small light industry sector caters to the local market.Tax revenues come mainly from import duties. Economic development ishindered by dependence on relatively few commodity exports,vulnerability to natural disasters, and long distances from mainmarkets and between constituent islands. The most recent naturaldisaster, a severe earthquake in November 1999 followed by atsunami, caused extensive damage to the northern island of Pentecoteand left thousands homeless. GDP growth has risen less than 3% onaverage in the 1990s. In response to foreign concerns, thegovernment is moving to tighten regulation of its offshore financialcenter.
Venezuela:The petroleum sector dominates the economy, accountingfor roughly a third of GDP, around 80% of export earnings, and morethan half of government operating revenues. Venezuelan officialsestimate that GDP grew by 3.2% in 2000. A strong rebound ininternational oil prices fueled the recovery from the steeprecession in 1999. Nevertheless, a weak nonoil sector and capitalflight undercut the recovery. The bolivar is widely believed to beovervalued by as much as 50%. The government is still rebuildingafter massive flooding and landslides in December 1999 caused anestimated $15 billion to $20 billion in damage.
Vietnam:Vietnam is a poor, densely populated country that has hadto recover from the ravages of war, the loss of financial supportfrom the old Soviet Bloc, and the rigidities of a centrally plannedeconomy. Substantial progress was achieved from 1986 to 1996 inmoving forward from an extremely low starting point - growthaveraged around 9% per year from 1993 to 1997. The 1997 Asianfinancial crisis highlighted the problems existing in the Vietnameseeconomy but, rather than prompting reform, reaffirmed thegovernment's belief that shifting to a market oriented economy leadsto disaster. GDP growth of 8.5% in 1997 fell to 6% in 1998 and 5% in1999. Growth continued at the moderately strong level of 5.5%, alevel that should be matched in 2001. These numbers mask some majordifficulties in economic performance. Many domestic industries,including coal, cement, steel, and paper, have reported largestockpiles of inventory and tough competition from more efficientforeign producers; this problem apparently eased in 2000. Foreigndirect investment fell dramatically, from $8.3 billion in 1996 toabout $1.6 billion in 1999. Meanwhile, Vietnamese authorities havemoved slowly in implementing the structural reforms needed torevitalize the economy and produce more competitive, export-drivenindustries.
Virgin Islands:Tourism is the primary economic activity, accountingfor more than 70% of GDP and 70% of employment. The islands normallyhost 2 million visitors a year. The manufacturing sector consists ofpetroleum refining, textiles, electronics, pharmaceuticals, andwatch assembly. The agricultural sector is small, with most foodbeing imported. International business and financial services are asmall but growing component of the economy. One of the world'slargest petroleum refineries is at Saint Croix. The islands aresubject to substantial damage from storms. The government is workingto improve fiscal discipline, support construction projects in theprivate sector, expand tourist facilities, and protect theenvironment.
Wake Island:Economic activity is limited to providing services tocontractors located on the island. All food and manufactured goodsmust be imported.
Wallis and Futuna:The economy is limited to traditional subsistenceagriculture, with about 80% of the labor force earning itslivelihood from agriculture (coconuts and vegetables), livestock(mostly pigs), and fishing. About 4% of the population is employedin government. Revenues come from French Government subsidies,licensing of fishing rights to Japan and South Korea, import taxes,and remittances from expatriate workers in New Caledonia.
West Bank:Economic output in the West Bank is governed by the ParisEconomic Protocol of April 1994 between Israel and the PalestinianAuthority. Real per capita GDP for the West Bank and Gaza Strip(WBGS) declined by 36.1% between 1992 and 1996 owing to the combinedeffect of falling aggregate incomes and rapid population growth. Thedownturn in economic activity was largely the result of Israeliclosure policies - the imposition of border closures in response tosecurity incidents in Israel - which disrupted established labor andcommodity market relationships between Israel and the WBGS. The mostserious social effect of this downturn was rising unemployment;unemployment in the WBGS during the 1980s was generally under 5%; by1995 it had risen to over 20%. Since 1997 Israel's use ofcomprehensive closures has decreased and, in 1998, Israelimplemented new policies to reduce the impact of closures and othersecurity procedures on the movement of Palestinian goods and labor.These changes fueled an almost three-year long economic recovery inthe West Bank and Gaza Strip; real GDP grew by 5% in 1998 and 6% in1999. Recovery was upended in the last quarter of 2000 with theoutbreak of Palestinian violence, which triggered tight Israeliclosures of Palestinian self-rule areas and a severe disruption oftrade and labor movements.
Western Sahara:Western Sahara, a territory poor in naturalresources and lacking sufficient rainfall, depends on pastoralnomadism, fishing, and phosphate mining as the principal sources ofincome for the population. Most of the food for the urban populationmust be imported. All trade and other economic activities arecontrolled by the Moroccan Government. Incomes and standards ofliving are substantially below the Moroccan level.
World: Growth in global output (gross world product, GWP) rose to 4.8% in 2000 from 3.5% in 1999, despite continued low growth in Japan, severe financial difficulties in other East Asian countries, and widespread dislocations in several transition economies. The US economy continued its remarkable sustained prosperity, growing at 5% in 2000, although growth slowed in fourth quarter 2000; the US accounted for 23% of GWP. The EU economies grew at 3.3% and produced 20% of GWP. China, the second largest economy in the world, continued its strong growth and accounted for 10% of GWP. Japan grew at only 1.3% in 2000; its share in GWP is 7%. As usual, the 15 successor nations of the USSR and the other old Warsaw Pact nations experienced widely different rates of growth. The developing nations also varied in their growth results, with many countries facing population increases that eat up gains in output. Externally, the nation-state, as a bedrock economic-political institution, is steadily losing control over international flows of people, goods, funds, and technology. Internally, the central government often finds its control over resources slipping as separatist regional movements - typically based on ethnicity - gain momentum, e.g., in many of the successor states of the former Soviet Union, in the former Yugoslavia, in India, and in Canada. In Western Europe, governments face the difficult political problem of channeling resources away from welfare programs in order to increase investment and strengthen incentives to seek employment. The addition of 80 million people each year to an already overcrowded globe is exacerbating the problems of pollution, desertification, underemployment, epidemics, and famine. Because of their own internal problems and priorities, the industrialized countries devote insufficient resources to deal effectively with the poorer areas of the world, which, at least from the economic point of view, are becoming further marginalized. Continued financial difficulties in East Asia, Russia, and many African nations, as well as the slowdown in US economic growth, cast a shadow over short-term global economic prospects; GWP probably will grow at 3-4% in 2001. The introduction of the euro as the common currency of much of Western Europe in January 1999, while paving the way for an integrated economic powerhouse, poses serious economic risks because of varying levels of income and cultural and political differences among the participating nations. (For specific economic developments in each country of the world in 2000, see the individual country entries.)
Yemen:Yemen, one of the poorest countries in the Arab world,reported strong growth in the mid-1990s with the onset of oilproduction, but was harmed by low oil prices in 1998. Yemen hasembarked on an IMF-supported structural adjustment program designedto modernize and streamline the economy, which has led to foreigndebt relief and restructuring. Aided by higher oil prices in1999-2000, Yemen worked to maintain tight control over spending andimplement additional components of the IMF program. A highpopulation growth rate of nearly 3.4% and internal politicaldissension complicate the government's task.
Yugoslavia:The swift collapse of the Yugoslav federation in 1991was followed by highly destructive warfare, the destabilization ofrepublic boundaries, and the breakup of important interrepublictrade flows. Output in Yugoslavia dropped by half in 1992-93. Likethe other former Yugoslav republics, it had depended on its sisterrepublics for large amounts of energy and manufactures. Widedifferences in climate, mineral resources, and levels of technologyamong the republics accentuated this interdependence, as did thecommunist practice of concentrating much industrial output in asmall number of giant plants. The breakup of many of the tradelinks, the sharp drop in output as industrial plants lost suppliersand markets, and the destruction of physical assets in the fightingall have contributed to the economic difficulties of the republics.Hyperinflation ended with the establishment of a new currency unitin June 1993; prices were relatively stable from 1995 through 1997,but inflationary pressures resurged in 1998. Reliable statisticscontinue to be hard to come by, and the GDP estimate is extremelyrough. The economic boom anticipated by the government after thesuspension of UN sanctions in December 1995 has failed tomaterialize. Government mismanagement of the economy is largely toblame, but the damage to Yugoslavia's infrastructure and industry bythe NATO bombing during the war in Kosovo have added to problems.All sanctions now have been lifted. Yugoslavia is in the first stageof economic reform. Severe electricity shortages are chronic, theresult of lack of investment by former regimes, depleted hydropowerreservoirs due to extended drought, and lack of funds. GDP growth in2000 was perhaps 15%, which made up for a large part of the 20%decline of 1999.
Zambia:Despite progress in privatization and budgetary reform,Zambia's economy has a long way to go. Privatization ofgovernment-owned copper mines relieved the government from coveringmammoth losses generated by the industry and greatly improved thechances for copper mining to return to profitability and spureconomic growth. In late 2000, Zambia was determined to be eligiblefor debt relief under the Heavily Indebted Poor Countries (HIPC)initiative. Inflation and unemployment rates remain high, but theGDP growth rate should rise in 2001.
Zimbabwe:The government of Zimbabwe faces a wide variety ofdifficult economic problems as it struggles to consolidate earliermoves to develop a market-oriented economy. Its involvement in thewar in the Democratic Republic of the Congo, for example, hasalready drained hundreds of millions of dollars from the economy.Badly needed support from the IMF suffers delays in part because ofthe country's failure to meet budgetary goals. Inflation rose froman annual rate of 32% in 1998 to 59% in 1999 and 60% in 2000. Theeconomy is being steadily weakened by excessive government deficitsand AIDS; Zimbabwe has the highest rate of infection in the world.Per capita GDP, which is twice the average of the poorer sub-Saharannations, will increase little if any in the near-term, and Zimbabwewill suffer continued frustrations in developing its agriculturaland mineral resources.
Taiwan:Taiwan has a dynamic capitalist economy with graduallydecreasing guidance of investment and foreign trade by governmentauthorities. In keeping with this trend, some large government-ownedbanks and industrial firms are being privatized. Real growth in GDPhas averaged about 8% during the past three decades. Exports havegrown even faster and have provided the primary impetus forindustrialization. Inflation and unemployment are low; the tradesurplus is substantial; and foreign reserves are the world's fourthlargest. Agriculture contributes 3% to GDP, down from 35% in 1952.Traditional labor-intensive industries are steadily being movedoffshore and replaced with more capital- and technology-intensiveindustries. Taiwan has become a major investor in China, Thailand,Indonesia, the Philippines, Malaysia, and Vietnam. The tightening oflabor markets has led to an influx of foreign workers, both legaland illegal. Because of its conservative financial approach and itsentrepreneurial strengths, Taiwan suffered little compared with manyof its neighbors from the Asian financial crisis in 1998-99. Growthin 2001 will depend largely on conditions in Taiwan's export marketsand may be about 5%.
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@Electricity - consumption
Afghanistan:480.6 million kWh (1999)
Albania:5.379 billion kWh (1999)
Algeria:21.613 billion kWh (1999)
American Samoa:120.9 million kWh (1999)
Andorra:NA kWh
Angola:1.372 billion kWh (1999)
Anguilla:NA kWh
Antigua and Barbuda:88.4 million kWh (1999)
Argentina:77.111 billion kWh (1999)
Armenia:6.201 billion kWh (1999)
Aruba:418.5 million kWh (1999)
Australia:178.306 billion kWh (1999)
Austria:53.231 billion kWh (1999)
Azerbaijan:15.432 billion kWh (1999)
Bahamas, The:1.362 billion kWh (1999)
Bahrain:5.752 billion kWh (1999)
Bangladesh:11.216 billion kWh (1999)
Barbados:667.7 million kWh (1999)
Belarus:27.647 billion kWh (1999)
Belgium:75.089 billion kWh (1999)
Belize:172.1 million kWh (1999)
Benin:510.2 million kWh (1999)
Bermuda:511.5 million kWh (1999)
Bhutan:191.1 million kWh (1999)
Bolivia:3.377 billion kWh (1999)
Bosnia and Herzegovina:2.684 billion kWh (1999)
Botswana:1.517 billion kWh (1999)
Brazil:353.674 billion kWh (1999)
British Indian Ocean Territory:NA kWh
British Virgin Islands:39.1 million kWh (1999)
Brunei:2.274 billion kWh (1999)
Bulgaria:33.182 billion kWh (1999)
Burkina Faso:265.1 million kWh (1999)
Burma:4.476 billion kWh (1999)
Burundi:160.1 million kWh (1999)
Cambodia:136.7 million kWh (1999)
Cameroon:3.227 billion kWh (1999)
Canada:497.532 billion kWh (1999)
Cape Verde:37.2 million kWh (1999)
Cayman Islands:306.9 million kWh (1999)
Central African Republic:94.9 million kWh (1999)
Chad:83.7 million kWh (1999)
Chile:35.426 billion kWh (1999)
China:1.084 trillion kWh (1999)
Christmas Island:NA kWh
Cocos (Keeling) Islands:NA kWh
Colombia:40.532 billion kWh (1999)
Comoros:15.8 million kWh (1999)
Congo, Democratic Republic of the:4.55 billion kWh (1999)
Congo, Republic of the:406.9 million kWh (1999)
Cook Islands:19.5 million kWh (1999)
Costa Rica:5.303 billion kWh (1999)
Cote d'Ivoire:3.183 billion kWh (1999)
Croatia:13.643 billion kWh (1999)
Cuba:13.353 billion kWh (1999)
Cyprus:2.744 billion kWh (1999); Turkish Cypriot area: NA kWh
Czech Republic:52.898 billion kWh (2000)
Denmark:32.916 billion kWh (1999)
Djibouti:167.4 million kWh (1999)
Dominica:57.7 million kWh (1999)
Dominican Republic:6.78 billion kWh (1999)
Ecuador:9.386 billion kWh (1999)
Egypt:60.157 billion kWh (1999)
El Salvador:3.638 billion kWh (1999)
Equatorial Guinea:19.5 million kWh (1999)
Eritrea:153.5 million kWh (1999)
Estonia:6.807 billion kWh (1999)
Ethiopia:1.511 billion kWh (1999)
Falkland Islands (Islas Malvinas):11.2 million kWh (1999)
Faroe Islands:158.1 million kWh (1999)
Fiji:474.3 million kWh (1999)
Finland:81.611 billion kWh (1999)
France:398.752 billion kWh (1999)
French Guiana:409.2 million kWh (1999)
French Polynesia:399.9 million kWh (1999)
Gabon:948.6 million kWh (1999)
Gambia, The:69.8 million kWh (1999)
Gaza Strip:NA kWh
Georgia:7.117 billion kWh (1999)
Germany:495.181 billion kWh (1999)
Ghana:5.573 billion kWh (1999)
Gibraltar:88.4 million kWh (1999)
Greece:43.343 billion kWh (1999)
Greenland:232.5 million kWh (1999)
Grenada:111.6 million kWh (1999)
Guadeloupe:1.209 billion kWh (1999)
Guam:744 million kWh (1999)
Guatemala:3.295 billion kWh (1999)
Guernsey:NA kWh
Guinea:697.5 million kWh (1999)
Guinea-Bissau:51.2 million kWh (1999)
Guyana:423.2 million kWh (1999)
Haiti:625 million kWh (1999)
Holy See (Vatican City):NA kWh
Honduras:3.232 billion kWh (1999)
Hong Kong:32.202 billion kWh (1999)
Hungary:35.234 billion kWh (1999)
Iceland:6.574 billion kWh (1999)
India:424.032 billion kWh (1999)
Indonesia:73.167 billion kWh (1999)
Iran:95.84 billion kWh (1999)
Iraq:27.361 billion kWh (1999)
Ireland:18.414 billion kWh (1999)
Israel:31.899 billion kWh (1999)
Italy:272.35 billion kWh (1999)
Jamaica:6.073 billion kWh (1999)
Japan:947.038 billion kWh (1999)
Johnston Atoll:NA kWh
Jordan:6.594 billion kWh (1999)
Kazakhstan:44.132 billion kWh (1999)
Kenya:4.075 billion kWh (1999)
Kiribati:6.5 million kWh (1999)
Korea, North:26.598 billion kWh (1999)
Korea, South:232.767 billion kWh (1999)
Kuwait:29.357 billion kWh (1999)
Kyrgyzstan:10.236 billion kWh (1999)
Laos:173.6 million kWh (1999)
Latvia:4.316 billion kWh (1999)
Lebanon:7.86 billion kWh (1999)
Lesotho:55 million kWh (1999)
Liberia:401.8 million kWh (1999)
Libya:17.577 billion kWh (1999)
Liechtenstein:NA kWh
Lithuania:9.817 billion kWh (1999)
Luxembourg:6.149 billion kWh (1999)
Macau:1.422 billion kWh (1999)
Macedonia, The Former Yugoslav Republic of:5.992 billion kWh (1999)
Madagascar:753.3 million kWh (1999)
Malawi:950 million kWh (1999)
Malaysia:54.872 billion kWh (1999)
Maldives:93.9 million kWh (1999)
Mali:413.9 million kWh (1999)
Malta:1.534 billion kWh (1999)
Martinique:1.023 billion kWh (1999)
Mauritania:140.4 million kWh (1999)
Mauritius:1.172 billion kWh (1999)
Mayotte:NA kWh
Mexico:170.754 billion kWh (1999)
Micronesia, Federated States of:NA kWh
Moldova:5.78 billion kWh (1999)
Monaco:NA kWh
Mongolia:2.767 billion kWh (1999)
Montserrat:9.3 million kWh (1999)
Morocco:13.441 billion kWh (1999)
Mozambique:307 million kWh (1999)
Namibia:1.948 billion kWh (1999)
Nauru:27.9 million kWh (1999)
Nepal:1.309 billion kWh (1999)
Netherlands:97.76 billion kWh (1999)
Netherlands Antilles:1.032 billion kWh (1999)
New Caledonia:1.414 billion kWh (1999)
New Zealand:35.295 billion kWh (1999)
Nicaragua:2.265 billion kWh (1999)
Niger:401 million kWh (1999)
Nigeria:17.372 billion kWh (1999)
Niue:2.8 million kWh (1999)
Norfolk Island:NA kWh
Northern Mariana Islands:NA kWh
Norway:110.795 billion kWh (1999)
Oman:8.026 billion kWh (1999)
Pakistan:57.732 billion kWh (1999)
Panama:4.049 billion kWh (1999)
Papua New Guinea:1.693 billion kWh (1999)
Paraguay:1.915 billion kWh (1999)
Peru:17.565 billion kWh (1999)
Philippines:37.893 billion kWh (1999)
Pitcairn Islands:NA kWh
Poland:120.007 billion kWh (1999)
Portugal:37.915 billion kWh (1999)
Puerto Rico:15.587 billion kWh (1999)
Qatar:8.37 billion kWh (1999)
Reunion:1.023 billion kWh (1999)
Romania:44.768 billion kWh (1999)
Russia:728.2 billion kWh (1999)
Rwanda:191.8 million kWh (1999)
Saint Helena:5.6 million kWh (1999)
Saint Kitts and Nevis:83.7 million kWh (1999)
Saint Lucia:102.3 million kWh (1999)
Saint Pierre and Miquelon:37.2 million kWh (1999)
Saint Vincent and the Grenadines:76.3 million kWh (1999)
Samoa:93 million kWh (1999)
San Marino:NA kWh
Sao Tome and Principe:15.8 million kWh (1999)
Saudi Arabia:111.6 billion kWh (1999)
Senegal:1.181 billion kWh (1999)
Seychelles:148.8 million kWh (1999)
Sierra Leone:223.2 million kWh (1999)
Singapore:25.464 billion kWh (1999)
Slovakia:21.471 billion kWh (1999)
Slovenia:10.024 billion kWh (1999)
Solomon Islands:27.9 million kWh (1999)
Somalia:241.8 million kWh (1999)
South Africa:172.393 billion kWh (1999)
South Georgia and the South Sandwich Islands:NA kWh
Spain:189.57 billion kWh (1999)
Sri Lanka:5.604 billion kWh (1999)
Sudan:1.637 billion kWh (1999)
Suriname:1.801 billion kWh (1999)
Svalbard:NA kWh
Swaziland:198 million kWh (1999)
Sweden:128.819 billion kWh (1999)
Switzerland:51.862 billion kWh (1999)
Syria:16.684 billion kWh (1999)
Tajikistan:14.729 billion kWh (1999)
Tanzania:2.134 billion kWh (1999)
Thailand:83.991 billion kWh (1999)
Togo:511.6 million kWh (1999)
Tokelau:NA kWh
Tonga:32.6 million kWh (1999)
Trinidad and Tobago:4.557 billion kWh (1999)
Tunisia:8.677 billion kWh (1999)
Turkey:119.5 billion kWh (2000 est.)
Turkmenistan:4.785 billion kWh (1999)
Turks and Caicos Islands:4.6 million kWh (1999)
Uganda:1.06 billion kWh (1999)
Ukraine:146.675 billion kWh (1999)
United Arab Emirates:34.131 billion kWh (1999)
United Kingdom:333.012 billion kWh (1999)
United States:3.45 trillion kWh (1999)
Uruguay:5.89 billion kWh (1999)
Uzbekistan:43.455 billion kWh (1999)
Vanuatu:32.6 million kWh (1999)
Venezuela:75.53 billion kWh (1999)
Vietnam:21.376 billion kWh (1999)
Virgin Islands:948.6 million kWh (1999)
Wallis and Futuna:NA kWh
West Bank:NA kWh
Western Sahara:83.7 million kWh (1999)
Yemen:2.232 billion kWh (1999)
Yugoslavia:33.006 billion kWh (1999)
Zambia:5.926 billion kWh (1999)
Zimbabwe:6.939 billion kWh (1999)
Taiwan:129.899 billion kWh (1999)
======================================================================
@Electricity - exports
Afghanistan:0 kWh (1999)
Albania:100 million kWh (1999)
Algeria:307 million kWh (1999)
American Samoa:0 kWh (1999)
Andorra:NA kWh
Angola:0 kWh (1999)
Antigua and Barbuda:0 kWh (1999)
Argentina:1.08 billion kWh (1999)
Armenia:0 kWh (1999)
Aruba:0 kWh (1999)
Australia:0 kWh (1999)
Austria:13.507 billion kWh (1999)
Azerbaijan:600 million kWh (1999)
Bahamas, The:0 kWh (1999)
Bahrain:0 kWh (1999)
Bangladesh:0 kWh (1999)
Barbados:0 kWh (1999)
Belarus:2.62 billion kWh (1999)
Belgium:8.207 billion kWh (1999)
Belize:0 kWh (1999)
Benin:0 kWh (1999)
Bermuda:0 kWh (1999)
Bhutan:1.55 billion kWh (1999)
Bolivia:4 million kWh (1999)
Bosnia and Herzegovina:150 million kWh (1999)
Botswana:0 kWh (1999)
Brazil:5 million kWh (1999)
British Virgin Islands:0 kWh (1999)
Brunei:0 kWh (1999)
Bulgaria:2.2 billion kWh (1999)
Burkina Faso:0 kWh (1999)
Burma:0 kWh (1999)
Burundi:0 kWh (1999)
Cambodia:0 kWh (1999)
Cameroon:0 kWh (1999)
Canada:42.911 billion kWh (1999)
Cape Verde:0 kWh (1999)
Cayman Islands:0 kWh (1999)
Central African Republic:0 kWh (1999)
Chad:0 kWh (1999)
Chile:0 kWh (1999)
China:7.2 billion kWh (1999)
Colombia:27 million kWh (1999)
Comoros:0 kWh (1999)
Congo, Democratic Republic of the:404 million kWh (1999)
Congo, Republic of the:0 kWh (1999)
Cook Islands:0 kWh (1999)
Costa Rica:165 million kWh (1999)
Cote d'Ivoire:593 million kWh (1999)
Croatia:1 billion kWh (1999)
Cuba:0 kWh (1999)
Cyprus:0 kWh (1999)
Czech Republic:18.744 billion kWh (2000)
Denmark:7.28 billion kWh (1999)
Djibouti:0 kWh (1999)
Dominica:0 kWh (1999)
Dominican Republic:0 kWh (1999)
Ecuador:0 kWh (1999)
Egypt:0 kWh (1999)
El Salvador:208 million kWh (1999)
Equatorial Guinea:0 kWh (1999)
Eritrea:0 kWh NA kWh (1999)
Estonia:530 million kWh (1999)
Ethiopia:0 kWh (1999)
Falkland Islands (Islas Malvinas):0 kWh (1999)
Faroe Islands:0 kWh (1999)
Fiji:0 kWh (1999)
Finland:232 million kWh (1999)
France:68.7 billion kWh (1999)
French Guiana:0 kWh (1999)
French Polynesia:0 kWh (1999)
Gabon:0 kWh (1999)
Gambia, The:0 kWh (1999)
Gaza Strip:0 kWh (1999)
Georgia:850 million kWh (1999)
Germany:39.5 billion kWh (1999)
Ghana:400 million kWh (1999)
Gibraltar:0 kWh (1999)
Greece:1.65 billion kWh (1999)
Greenland:0 kWh (1999)
Grenada:0 kWh (1999)
Guadeloupe:0 kWh (1999)
Guam:0 kWh (1999)
Guatemala:435 million kWh (1999)
Guernsey:NA kWh
Guinea:0 kWh (1999)
Guinea-Bissau:0 kWh (1999)
Guyana:0 kWh (1999)
Haiti:0 kWh (1999)
Honduras:0 kWh (1999)
Hong Kong:633 million kWh (1999)
Hungary:2.35 billion kWh (1999)
Iceland:0 kWh (1999)
India:200 million kWh (1999)
Indonesia:0 kWh (1999)
Iran:0 kWh (1999)
Iraq:0 kWh (1999)
Ireland:50 million kWh (1999)
Israel:1.061 billion kWh (1999)
Italy:530 million kWh (1999)
Jamaica:0 kWh (1999)
Japan:0 kWh (1999)
Jordan:4 million kWh (1999)
Kazakhstan:200 million kWh (1999)
Kenya:0 kWh (1999)
Kiribati:0 kWh (1999)
Korea, North:0 kWh (1999)
Korea, South:0 kWh (1999)
Kuwait:0 kWh (1999)
Kyrgyzstan:2.02 billion kWh (1999)
Laos:705 million kWh (1999)
Latvia:400 million kWh (1999)
Lebanon:0 kWh (1999)
Lesotho:0 kWh (1999)
Liberia:0 kWh (1999)
Libya:0 kWh (1999)
Liechtenstein:NA kWh
Lithuania:3.2 billion kWh (1999)
Luxembourg:655 million kWh (1999)
Macau:3 million kWh (1999)
Macedonia, The Former Yugoslav Republic of:30 million kWh (1999)
Madagascar:0 kWh (1999)
Malawi:3 million kWh (1999)
Malaysia:50 million kWh (1999)
Maldives:0 kWh (1999)
Mali:0 kWh (1999)
Malta:0 kWh (1999)
Martinique:0 kWh (1999)
Mauritania:0 kWh (1999)
Mauritius:0 kWh (1999)
Mexico:11 million kWh (1999)
Moldova:0 kWh (1999)
Mongolia:80 million kWh (1999)
Montserrat:0 kWh (1999)
Morocco:0 kWh (1999)
Mozambique:1.9 billion kWh (1999)
Namibia:56 million kWh (1999)
Nauru:0 kWh (1999)
Nepal:68 million kWh (1999)
Netherlands:3.97 billion kWh (1999)
Netherlands Antilles:0 kWh (1999)
New Caledonia:0 kWh (1999)