Syndicate content

Global Economy

Chart: A Fast Fall in Growth Among Commodity Exporters

Tariq Khokhar's picture
Also available in: Español | العربية

In 2016, emerging markets and developing economies are forecast to grow by 3.5% - slightly lower than the recent average. Within this group, trends vary between commodity exporters and importers. In 2016, importers are expected to see steady 5.8% growth, but exporters are struggling to adjust to persistently low commodity prices and are forecast to grow only 0.4%. Read more in the The June 2016 Global Economic Prospects report.
 

Bribery and limited access to banking are challenges for Afghan private firms

Arvind Jain's picture

The World Bank Group’s Enterprise Surveys benchmark the business environment based on actual experiences of firms. In a new blog series we kicked off last week, we’re sharing these findings from recently analyzed surveys conducted through extensive face-to-face interviews with managers and owners of firms in several countries.
 
In this post we focus on Afghanistan. We’ve conducted a survey with 410 firms across five regions and four business sectors—manufacturing, construction, retail, and services.

The International Monetary Fund (IMF) has noted that considerable political and security uncertainties have posed challenges for Afghanistan. Furthermore, the financial sector has been vulnerable with eight out of 15 banks classified as weak in late 2014. Within this context, the Afghanistan Enterprise Surveys (ES) shed light on several interesting findings:

Corruption is a challenge

According to the Afghanistan Enterprise Survey, firms face almost a 50 percent chance of having to pay a bribe if they applied for an electricity connection, tried to obtain permits, or met with government officials for tax purposes (“Bribery incidence”).  This is more than double of what private firms in landlocked developing countries experience on average.
 

Access to finance is biggest challenge for firms in Namibia

Joshua Wimpey's picture

The private sector continues to be a critical driver of job creation and economic growth. However, several factors can undermine the private sector and, if left unaddressed, may impede development.  Through extensive face-to-face interviews with managers and owners of firms, the World Bank Group's Enterprise Surveys benchmark the business environment based on actual experiences of firms. A series of blogs, starting today, share the findings from recently analyzed surveys conducted in several countries.

The Namibia Enterprise Surveys consisted of 580 interviews with firms across three regions and three business sectors – manufacturing, retail, and other services. So what are some key highlights from the surveys?

Exports take on average 8 days to clear through customs but varies according to firm size
In 2013, it took a firm in Namibia about eight days to clear exports through customs, which is considerably more than the two days it took in 2006. Despite this increase, the average time to clear direct exports through customs is still about the same as in the upper middle income countries (8 days) and lower than the Sub-Saharan Africa regional average (10 days). Moreover, there is a wide variation across firm size. For a small firm, it takes about 17 days on average to clear exports through customs, compared to around six days for medium-sized firms and about two days for large firms.

Clearing imports, in contrast, through customs is considerably faster in Namibia (five days) than the average for upper middle income countries (11 days) and Sub-Saharan Africa average (17 days).


 

2014 Global Findex microdata provides a closer look at people’s use of financial services

Leora Klapper's picture
Also available in: 中文 | Español | Français | العربية
We’ve just rolled out the 2014 Global Findex microdata, which features about 1,000 individual-level surveys on financial inclusion for 143 economies worldwide. Check it out at the Findex homepage or in the World Bank's Data Catalogue.
 

 

What are trade blocs and how do two of Latin America’s largest compare?

Saulo Teodoro Ferreira's picture
Also available in: Español | Français

Trade blocs are intergovernmental agreements intended to bring economic benefits to their members by reducing barriers to trade.

Some well known trade blocs include the European Union, NAFTA and the African Union. Through encouraging foreign direct investment, increasing competition, and boosting exports, trade blocs can have numerous benefits for their members.

In Latin America, Mercosur and the more recently formed Pacific Alliance blocs together represent about 93 percent of the region's GDP at 2014 market prices. Who participates in these trade blocs and how do they compare?

Size, membership and performance of Mercosur and The Pacific Alliance

​The Pacific Alliance is a Latin American trade bloc formed in 2011 among Chile, Colombia, Mexico, and Peru. Together the four countries have a combined population of about 221.3 million and GDP of $2.1 trillion. The Southern Common Market (Mercosur) created in 1991, includes Argentina, Brazil, Paraguay, Uruguay, and Venezuela. Together the five Mercosur countries have 285.0 million inhabitants and GDP of $3.5 trillion.

One of the areas intended to benefit from these agreements, trade within the blocs, accounts for about 4 percent of the Pacific Alliance's total trade and about 14 percent in Mercosur.

It is time to measure development finance wholly and universally

Gail Hurley's picture
Also available in: Français | العربية | Español

At the start of 2016, the United Nations will launch a new set of Sustainable Development Goals, or SDGs, to drive development efforts around the globe. But one question still needs some thought: How will we finance these new goals?

Even more questions lie within this broader question on finance. Which countries need more resources? What types of resources are needed most? Where does international finance, both public and private, currently flow? Where does it not? Answers to all of these require reliable and easy-to-understand data on all international financial flows.

When governments convene in July in Addis Ababa, Ethiopia to agree on a framework for financing the new sustainable development agenda, there will be a key window of opportunity to improve the existing, haphazard approach to data collection and reporting.

Global Findex 2014: a bonanza of data on financial inclusion

Leora Klapper's picture
Also available in: 中文
Fellow data geeks, today is your lucky day!
 
​Today we launch our report The Global Findex Database 2014: Measuring Financial Inclusion around the World and The 2014 Global Findex database, an updated edition of what is by far the world’s most comprehensive gauge of global progress on financial inclusion. You may also find the database on the Development Data Group's Data Catalog
 


Want to learn how many adults own a bank account worldwide? Right this way. What happens with the gender gap when you break it down by country and region? We’ve got the stats … Check.  Where is mobile money making the biggest inroads, and what are the impacts? Check ... Check. How do adults save and borrow money, as well as manage financial risk? Check … Check … Check!

Five trends in disbursements to Sub-Saharan Africa

Peter Bourke's picture
Also available in: Français
The 2015 International Debt Statistics database contains many different indicators to help understand external debt in low-and middle-income countries. This post looks at one: disbursements, in the context of countries in Sub-Saharan Africa.
 
So what are disbursements? Disbursements are simply the amount of a loan commitment (the total amount of new loans to borrowers for which contracts were signed) that actually enter the borrower's account, in a given year. The reason I’ve decided to focus on disbursements is that this indicator offers a clear picture of developments in a given year while an indicator like external debt stock (which tell us how much a country owes its creditors – the entities that lend a country money) is a more cumulative measure as it is influenced by what happened in previous years.
 
In the analysis that follows, I’ve used 45 countries in Sub-Saharan Africa, excluding South Africa. Why? Simply because the size of South Africa’s external debt would mask the trends in the rest of the region. For some perspective, consider that the biggest economy in Africa (in terms of 2013 GDP), Nigeria, had an external debt stock of 14 billion USD in 2013 while South Africa (the second biggest African economy in terms of 2013 GDP) had one of 140 billion USD in the same year – ten times more.
 
Despite this exclusion, I think it’s important to note how huge this unit of analysis is. The 45 countries that I’ve used represent almost the whole African continent, with the exception of a handful of countries in the north of the continent. Therefore, I ask you to take these trends with a grain of salt, as they are aggregate trends and therefore some of the national differences are blurred out.
 
Disbursements to the region have doubled
First, the big picture: disbursements to Sub-Saharan Africa have increased sharply in the last few years. Between 2010 and 2013 they more than doubled (increased by 121%), while in the rest of the developing world disbursements went up by 42% (see figure 1). The increase in the region is particularly strong in the case of disbursements from private creditors (entities like bond holders and commercial banks), which increased almost sixfold (489%) since 2010 (compared to a rise of 52% in the rest of the developing world). In the same period, disbursements from official creditors (governments or other bilateral/multilateral entities) grew by 35% in the region (while they fell 13% in the rest of the developing world).
 
Figure 1

Can you visualize the structure of the world economy and population in one chart?

Morgan Brannon's picture
Also available in: Français | Español | العربية
Following the International Comparison Program (ICP) 2011 final report release from last October, there was particular interest in the charts presenting the results. To give a deeper explanation of one of the most popular charts, we’ve recently produced this video:
 
Real GDP Per Capita and Shares of Global Population, ICP 2011
Source:  ICP, http://icp.worldbank.org/

Pages