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Data Chapters11 Comparisons with Major Countries

112

Data Chapters11 Comparisons with Major Countries

11 Comparisons with Major Countries

1 Trade Value

Goods

Exports

$100 million

Services

Exports

USA

Germany

UK

France

Italy

Canada

China

Canada

China

2001

4,035

7,291

5,716

2,727

3,234

2,445

2,599

2,661

2001

648

2,625

843

1,188

817

571

379

329

02

4,167

6,931

6,158

2,802

3,317

2,544

2,524

3,256

02

661

2,694

968

1,329

879

596

396

394

03

4,718

7,248

7,516

3,056

3,920

2,993

2,727

4,382

03

718

2,789

1,164

1,555

1,008

706

431

464

04

5,657

8,149

9,099

3,475

4,521

3,538

3,168

5,933

04

897

3,227

1,393

1,939

1,139

835

491

621

05

5,949

9,011

9,709

3,845

4,634

3,731

3,605

7,620

05

1,021

3,526

1,606

2,041

1,215

883

544

739

06

6,467

10,260

11,081

4,487

4,959

4,169

3,882

9,690

06

1,151

3,934

1,878

2,323

1,277

974

589

914

07

7,143

11,482

13,212

4,391

5,596

4,999

4,207

12,205

07

1,271

4,625

2,219

2,836

1,482

1,104

638

1,217

08

7,814

12,874

14,462

4,597

6,159

5,427

4,565

14,307

08

1,464

5,105

2,558

2,822

1,654

1,145

667

1,464

09

5,807

10,560

11,200

3,529

4,846

4,069

3,166

12,016

09

1,259

4,760

2,258

2,283

1,420

940

585

1,286

10

7,698

12,783

12,689

4,057

5,207

4,475

3,880

15,778

10

1,389

5,183

2,324

2,268

1,426

971

674

1,702

$100 million

Japan

$100 million

Japan

Imports

USA

Germany

UK

France

Italy

Imports

Japan

USA

Germany

UK

France

Italy

Canada

China

Japan

2001

3,491

11,792

4,861

3,438

3,286

2,362

2,273

2,436

2001

02

3,372

12,002

4,903

3,641

3,293

2,470

2,275

2,952

03

3,829

13,031

6,046

3,994

3,988

2,975

2,450

04

4,545

15,257

7,157

4,706

4,709

3,553

05

5,159

17,327

7,771

5,137

5,041

06

5,791

19,181

9,067

6,014

07

6,222

20,204

10,550

08

7,625

21,695

09

5,520

10

6,941

$100 million

USA

Germany

988

2,003

1,406

974

661

02

979

2,057

1,438

1,072

4,128

03

999

2,178

1,714

2,799

5,612

04

1,199

2,523

3,848

3,224

6,600

05

1,224

5,419

4,426

3,590

7,915

06

6,230

6,309

5,117

3,902

9,561

11,851

6,330

7,155

5,619

4,190

16,053

9,263

4,829

5,601

4,151

19,692

10,668

5,601

6,057

4,838

Source: Compiled from WTO's statistics

113

Canada

China

561

432

390

724

611

445

461

1,229

865

731

518

549

1,953

1,451

985

817

580

716

2,706

2,101

1,585

1,060

884

649

832

1,339

3,050

2,241

1,703

1,121

980

718

1,003

07

1,487

3,346

2,587

1,962

1,283

1,186

817

1,293

11,326

08

1,674

3,650

2,884

1,947

1,403

1,272

876

1,580

3,299

10,059

09

1,470

3,343

2,525

1,575

1,260

1,071

781

1,581

4,023

13,951

10

1,558

3,581

2,597

1,609

1,289

1,079

900

1,922

Source: Compiled from WTO's statistics

UK

France

Italy

Data Chapters11 Comparisons with Major Countries

114

Data Chapters11 Comparisons with Major Countries

2
Share in the World Trade

Goods

Exports

1990

8.3

Japan
$100 million

1995

2,876 )

2000

8.6
(

4,431 )

2005

7.4
(

4,792 )

5,949 )

Exports

5.1
(

7,698 )

USA

11.4

11.3

12.1

8.6

8.4

Germany

12.2

10.1

8.5

9.3

8.3

UK

5.4

4.6

4.4

3.7

2.7

France

6.3

5.8

5.1

4.4

3.4

Italy

4.9

4.5

3.7

3.6

2.9

Canada

3.7

3.7

4.3

3.4

2.5

China

1.8

2.9

3.9

7.3

10.4

Grand Total

100.0

100.0

100.0

100.0

100.0

$100 million

( 34,490 )

( 51,640 )

( 64,560 )

( 104,890 )

( 152,370 )

Imports

1990

6.6

Japan
$100 million

1995

2,354 )

2000

6.4
(

3,359 )

2005

5.6
(

3,795 )

5,159 )

$100 million

USA

6,941 )

1995

2000

2005

2010

5.3

5.5

4.7

4.1

3.8

414 )

650 )

694 )

( 1,021 )

16.9

18.4

14.1

14.0

Germany

6.5

6.3

5.4

6.4

6.3

UK

6.9

6.6

8.0

8.2

6.1

France

8.5

7.1

5.5

4.9

3.9

Italy

6.2

5.2

3.8

3.5

2.6

Canada

2.3

2.2

2.6

2.2

1.8

China

0.7

1.6

2.0

3.0

4.6

Grand Total

100.0

100.0

100.0

100.0

100.0

$100 million

( 7,810 )

(11,751 )

(14,830 )

(24,959 )

(36,925 )

Imports

USA

14.6

14.6

18.7

16.0

12.8

Germany

10.0

8.8

7.4

7.2

6.9

UK

6.3

5.1

5.2

4.7

3.6

( 1,389 )

17.0

4.5
(

1990
Japan

2010

4.8
(

2010

5.7
(

Services

1990

1995

2000

2005

2010

10.3

9.4

7.2

5.2

4.4

Japan
$100 million

843 )

( 1,115 )

( 1,052 )

( 1,224 )

( 1,558 )

USA

11.9

10.9

13.9

11.4

10.2

Germany

10.0

10.9

9.3

8.9

7.4

UK

5.5

5.3

6.6

6.7

4.6

France

6.6

5.5

5.0

4.6

3.9

France

6.2

5.5

4.4

4.5

3.7

Italy

5.1

3.9

3.6

3.5

3.1

Canada

3.5

3.2

3.6

3.0

2.6

China

1.5

2.5

3.3

6.1

9.1

Grand Total

100.0

100.0

100.0

100.0

100.0

$100 million

( 35,500 )

Source: Compiled from WTO's statistics

( 52,830 )

( 67,240 )

( 108,550 )

( 154,020 )

Italy

5.7

4.6

3.7

3.7

3.1

Canada

3.3

2.8

3.0

2.7

2.6

China

0.5

2.1

2.5

3.5

5.5

Grand Total

100.0

100.0

100.0

100.0

100.0

$100 million

( 8,204 )

(11,824 )

(14,573 )

(23,729 )

(35,112 )

Source: Compiled from WTO's statistics

115

Data Chapters11 Comparisons with Major Countries

116

Data Chapters11 Comparisons with Major Countries

3
Details of Traded Goods/Services

Goods (CY2010)

Commodity

Japan

USA

Germany


UK

France

Italy

Canada

1.3

11.2

6.4

7.2

13.1

8.6

13.4

3.3

Food

0.6

8.8

5.4

6.3

12.0

7.9

9.6

2.8

Fuels and mining


products

4.3

10.0

5.2

16.8

6.4

7.3

31.2

3.0

Fuels

1.7

6.4

2.1

12.9

3.9

5.1

23.5

1.7

Manufactures

88.4

73.8

86.0

74.2

78.5

81.9

47.9

93.6

Iron and steel

5.5

1.3

2.5

1.9

3.3

4.3

1.8

2.5

Chemicals

10.2

14.8

15.9

19.3

18.9

11.5

8.5

5.5

Machinery and
transport equipment

59.5

40.8

47.8

34.9

38.3

35.7

26.1

49.5

Automotive products

19.4

7.8

15.9

9.6

9.7

6.7

12.9

1.8

0.9

1.0

1.1

1.0

1.1

2.9

0.5

4.9

Clothing

0.1

0.4

1.3

1.3

1.9

4.5

0.3

8.2

6.0

5.0

2.4

1.8

2.0

2.3

7.5

0.1

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

Textiles

Others

Total

Imports

Japan

USA

Germany

Agricultural products

UK

France

Italy

Canada

5.9

9.6

10.8

9.9

11.6

7.9

7.8

Food

9.2

4.9

7.7

9.6

8.5

9.2

6.9

4.3

Fuels and mining


products

36.7

20.7

16.4

15.0

16.4

23.7

12.7

26.7

Fuels

28.6

18.4

11.8

11.3

13.7

18.9

9.7

13.5

Manufactures

50.0

69.5

72.0

72.7

73.2

63.4

72.7

64.1

Iron and steel

1.3

1.6

2.7

1.5

2.6

3.9

2.7

1.8

Chemicals

8.8

9.0

13.4

12.6

14.1

13.7

10.3

10.7

Machinery and
transport equipment

23.2

37.0

35.8

35.9

33.9

27.4

40.0

39.4

Automotive products

1.8

14.8

6.6

12.8

10.5

9.0

15.3

3.4

1.0

1.2

1.2

1.2

1.2

1.7

1.0

1.3

3.9

4.2

3.0

3.7

3.6

3.3

2.1

0.2

Transportation

Travel

Textiles

Others

Total

2.1

3.8

1.9

1.4

0.4

1.3

6.7

1.4

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

Source:Compiled from WTO's statistics

Other Services

Total

28.0

13.7

24.7

14.2

25.2

14.0

17.3

20.1

9.5

25.6

14.9

13.4

32.4

39.9

23.3

26.9

62.4

60.7

60.4

72.4

42.4

46.1

59.4

53.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

Japan

USA

Germany

UK


France

Italy

Canada

Imports

China

Item

Japan

USA

Germany

UK


France

Italy

Canada

China

Transportation

29.9

21.5

24.1

19.0

27.7

22.7

22.7

32.9

Travel

17.9

22.9

29.9

30.2

30.5

25.1

32.9

28.6

Other Services

52.2

55.6

46.0

50.8

41.8

52.1

44.4

38.5

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

China

11.2

Item

Clothing

Commodity

China

Agricultural products

Exports

Services (CY2010)

Exports

117

Total

100
Due to rounding up/off, not all totals equal 100 percent.
Source: Compiled from WTO's statistics
Note:

Data Chapters11 Comparisons with Major Countries

118

Data Chapters11 Comparisons with Major Countries

4 Trade Dependency

Goods

Exports

Japan

USA

Germany

UK

France

Italy

Canada

China

119

Services

Exports

Japan

USA

Germany

UK

France

Italy

Canada

China

2001

9.9

7.2

30.2

18.5

24.1

21.9

36.3

20.1

2001

1.6

2.6

4.5

8.1

6.1

5.1

5.3

2.5

02

10.6

6.6

30.5

17.4

22.8

20.9

34.3

22.4

02

1.7

2.6

4.8

8.2

6.0

4.9

5.4

2.7

03

11.2

6.5

30.7

16.4

21.8

19.8

31.5

26.5

03

1.7

2.5

4.8

8.3

5.6

4.7

5.0

2.8

04

12.3

6.9

33.5

15.8

22.0

20.5

31.9

30.5

04

1.9

2.7

5.1

8.8

5.5

4.8

4.9

3.2

05

13.1

7.1

35.1

16.8

21.7

21.0

31.9

33.4

05

2.2

2.8

5.8

8.9

5.7

5.0

4.8

3.2

06

14.8

7.7

38.2

18.3

22.0

22.3

30.6

34.8

06

2.6

2.9

6.5

9.5

5.7

5.2

4.6

3.3

07

16.3

8.2

39.7

15.6

21.7

23.6

29.5

34.9

07

2.9

3.3

6.7

10.1

5.7

5.2

4.5

3.5

08

16.0

9.0

40.0

17.2

21.8

23.6

30.4

31.7

08

3.0

3.6

7.1

10.5

5.8

5.0

4.4

3.2

09

11.5

7.6

34.0

16.2

18.5

19.3

23.7

24.1

09

2.5

3.4

6.8

10.5

5.4

4.5

4.4

2.6

10

14.1

8.8

38.8

18.0

20.4

21.8

24.7

26.8

10

2.5

3.6

7.1

10.1

5.6

4.7

4.3

2.9

Imports

Japan

USA

Germany

UK

France

Italy

Canada

China

Imports

Japan

USA

Germany

UK

France

Italy

Canada

China

2001

8.5

11.6

25.7

23.4

24.5

21.1

31.8

18.4

2001

2.4

2.0

7.4

6.6

4.9

5.0

6.0

2.9

02

8.6

11.5

24.3

22.5

22.6

20.3

30.9

20.3

02

2.5

2.0

7.1

6.6

5.0

5.0

6.0

3.2

03

9.1

11.7

24.7

21.4

22.1

19.7

28.3

25.0

03

2.4

2.0

7.0

6.6

4.8

4.8

6.0

3.3

04

9.9

12.9

26.3

21.4

22.9

20.6

28.2

28.9

04

2.6

2.1

7.2

6.6

4.8

4.7

5.9

3.7

05

11.3

13.7

28.1

22.5

23.6

21.6

28.5

28.9

05

2.7

2.1

7.6

6.9

5.0

5.0

5.7

3.6

06

13.3

14.3

31.2

24.6

24.0

23.7

28.3

28.4

06

3.1

2.3

7.7

7.0

5.0

5.3

5.7

3.6

07

14.2

14.4

31.7

22.2

24.4

24.2

27.4

27.4

07

3.4

2.4

7.8

7.0

5.0

5.6

5.7

3.7

08

15.6

15.2

32.7

23.6

25.3

24.5

27.9

25.1

08

3.4

2.6

8.0

7.3

5.0

5.5

5.8

3.5

09

11.0

11.5

28.1

22.1

21.3

19.7

24.7

20.2

09

2.9

2.4

7.7

7.2

4.8

5.1

5.8

3.2

10

12.7

13.6

32.6

24.9

23.7

23.6

25.6

23.7

10

2.9

2.5

7.9

7.2

5.0

5.3

5.7

3.3

Export (Import) Dependency: Export (Import) value divided by GDP.


Source: Compiled from WTO's statistics and the IMF's "IFS", Dec.2011
Note:

Export (Import) Dependency: Export (Import) value divided by GDP.


Source: Compiled from WTO's statistics and IMF's "IFS", Dec.2011
Note:

Data Chapters11 Comparisons with Major Countries

120

Data Chapters11 Comparisons with Major Countries

5 Trade Specialization Coefficient

6 Terms of Trade

Goods

Japan

USA

Germany

UK

France

Italy

Canada

China

2001

0.07

0.24

0.08

0.12

0.01

0.02

0.07

0.04

02

0.11

0.27

0.11

0.13

0.00

0.01

0.05

0.05

03

0.10

0.29

0.11

0.13

0.01

0.00

0.05

0.03

04

0.11

0.30

0.12

0.15

0.02

0.00

0.06

0.03

05

0.07

0.32

0.11

0.14

0.04

0.02

0.06

0.07

06

0.06

0.30

0.10

0.15

0.04

0.03

0.04

0.10

07

0.07

0.28

0.11

0.17

0.06

0.01

0.04

0.12

08

0.01

0.26

0.10

0.16

0.07

0.02

0.04

0.12

09

0.03

0.21

0.09

0.16

0.07

0.01

0.02

0.09

10

0.05

0.21

0.09

0.16

0.08

0.04

0.02

0.06

Services

Japan

USA

Germany

UK

France

Italy

Canada

China

2001

0.21

0.13

0.25

0.10

0.11

0.01

0.07

0.09

02

0.19

0.13

0.20

0.11

0.10

0.01

0.06

0.08

03

0.16

0.12

0.19

0.12

0.08

0.02

0.09

0.08

04

0.14

0.12

0.17

0.14

0.07

0.01

0.08

0.07

05

0.09

0.13

0.13

0.13

0.07

0.00

0.09

0.06

06

0.08

0.13

0.09

0.15

0.06

0.00

0.10

0.05

07

0.08

0.16

0.08

0.18

0.07

0.04

0.12

0.03

08

0.07

0.17

0.06

0.18

0.08

0.05

0.14

0.04

09

0.08

0.17

0.06

0.18

0.06

0.07

0.14

0.10

10

0.06

0.18

0.06

0.17

0.05

0.05

0.14

0.06

Trade Specialization Coefficient: (Export value minus import value) divided by (export value plus import
value). The Trade Specialization Coefficient measures specialization in exports and imports. If a country
does not import at all, it will have plus one and if it does not export at all, minus one.
Source: Compiled from WTO's statistics
Note:

121

Unit Price of Exports


2005 100
Unit Price of Imports

Japan

USA

Germany

UK

France

Italy

Canada

2006

90.5

98.8

97.1

99.0

98.4

96.0

100.0

07

86.0

99.4

97.7

98.4

97.6

98.0

103.2

08

74.5

94.5

95.2

99.4

96.1

94.9

105.8

09

89.2

101.8

100.9

98.6

103.5

96.0

10

81.3

99.9

97.4

98.1

99.2

100.2

Source: Compiled from IMF's "IFS", Dec.2011

7 Current Accounts
Country


OECD

10 $ billion

2009

2010

2011

2012

Prospects

Japan
USA

Germany
UK
France
Italy
Canada
Total (7 countries)
Other OECD
Total (OECD)

142.6
376.6
189.5
31.4
39.2
41.4
40.3
196.8
7.9
204.7

196.1
470.9
184.1
56.9
45.0
71.7
49.3
313.6
61.6
252.0

130.0
455.4
177.2
14.1
63.2
79.1
49.0
353.6
69.8
283.8

2013

Forecasts

136.4
462.6
173.5
2.2
60.4
56.5
50.7
318.1
115.0
203.1

Forecasts

152.8
519.2
194.7
7.2
63.2
40.9
52.6
321.2
114.8
206.4

Current Accounts of Major Groups 10 $ billion


Area

OECD

252

2011

Prospects
284

2012

Forecasts
203

305
105
70
47
324

230
110
102
49
423

224
120
78
56
431

2009

2010

205
261
131
49
24
218

Non-member of OECD
China
Dynamic Asia
Russia
Brazil
the World

Note: 1.
Represents a deficit.
2. *

Dynamic Asia means 10 countries/regions including China, Taiwan, Hong Kong, Singapore, India,
Indonesia, Malaysia, Thailand, Philippines and Vietnam.
Source: Compiled from OECD's "Economic Outlook", No. 90, Nov.2011

Data Chapters11 Comparisons with Major Countries

122

8 Foreign Exchange Reserves

Germany

UK

France

Data Chapters11 Comparisons with Major Countries

$100 million

Japan

USA

Italy

Canada

2001

3,962

687

821

374

586

462

343

2,187

02

4,624

790

891

410

617

556

372

2,952

03

6,646

859

968

396

708

633

363

4,122

04

8,352

869

972

443

774

624

345

6,186

05

8,355

651

1,017

436

744

660

330

8,256

06

8,810

659

1,116

470

982

758

351

10,726

07

9,541

706

1,362

573

1,157

943

411

15,344

08

10,107

777

1,380

530

1,029

1,053

439

19,533

09

10,236

1,308

1,808

667

1,331

1,328

544

24,259

10

10,628

1,324

2,165

824

1,662

1,589

572

28,759

China

Includes the value of gold reserves.


Source: Compiled from IMF's "IFS", Dec.2011
Note:

2001
02
03
04
05
06
07
08
09
10
Forecasts
2011
12
13
2012
Q1
Q2
Q3
Q4
13
Q1
Q2

Change from previous year :

Japan
0.2
0.3
1.4
2.7
1.9
2.0
2.4
1.2
6.3
4.1

USA
1.1
1.7
2.5
3.5
3.1
2.7
1.9
0.3
3.5
3.0

Germany
1.6
0.0
0.4
0.7
0.8
3.9
3.4
0.8
5.1
3.6

UK
3.2
2.7
3.5
3.0
2.1
2.6
3.5
1.1
4.4
1.8

France
1.8
0.9
0.9
2.3
1.9
2.7
2.2
0.2
2.6
1.4

Italy
1.9
0.5
0.0
1.7
0.9
2.2
1.7
1.2
5.1
1.5

Canada
1.8
2.9
1.9
3.1
3.0
2.8
2.2
0.7
2.8
3.2

0.3
2.0
1.6

1.7
2.0
2.5

3.0
0.6
1.9

0.9
0.5
1.8

1.6
0.3
1.4

0.7
0.5
0.5

2.2
1.9
2.5

1.8
1.8
1.6
1.5

1.7
1.9
2.2
2.3

0.3
0.8
1.6
1.9

0.6
0.5
1.2
1.8

0.5
0.7
1.1
1.3

0.8
0.6
0.1
0.3

2.0
2.2
2.3
2.4

1.5
1.6

2.5
2.7

1.9
2.2

1.8
2.0

1.4
1.5

0.6
0.8

2.5
2.5

Year-on-year comparisons are for the entire year.


Source: Compiled from OECD's "Economic Outlook", No. 90, Nov.2011
Note:

9 Nominal GDP

$100 million

Japan

USA

Germany

UK

France

Italy

Canada

2001

40,954

101,280

18,910

14,714

13,398

11,173

7,150

13,248

02

39,183

104,696

20,169

16,147

14,574

12,189

7,360

14,538

03

42,292

111,422

24,455

18,628

18,010

15,081

8,669

16,508

04

46,059

118,678

27,179

22,036

20,530

17,259

9,917

19,428

05

45,522

126,384

27,622

22,829

21,348

17,783

11,295

22,837

06

43,626

133,772

29,038

24,476

22,579

18,654

12,688

27,873

07

43,779

140,287

33,288

28,121

25,836

21,162

14,258

34,941

08

48,799

142,916

36,190

26,789

28,291

22,962

15,018

45,195

09

50,330

139,389

32,963

21,825

26,252

21,106

13,364

49,902

10

54,593

145,266

32,740

22,502

25,581

20,498

15,740

58,784

Figures were converted into U.S. dollars by JFTC.


Source: Compiled from IMF's "IFS", Dec.2011
Note:

10 Real GDP Growth

123

China

11
Real GDP Growth in Other Countries/Area

Change from previous year :

Areacountries/regions

Developing Asia

China

Hong kong

Taiwan

Korea
Singapore

Latin America and the Caribbean


Argentina

Brazil

Chile

Mexico
Middle East and North Africa

Central and Eastern Europe


Non Fuel

Fuel

( ) Represents a decline.
Source: Compiled from IMF's "World Economic Outlook", Sep.2011
Note:

2006
10.3
12.7
7.0
5.4
5.2
8.7
5.6
8.5
4.0
4.6
5.2
6.0
6.4
8.4
7.6

2007
11.5
14.2
6.4
6.0
5.1
8.8
5.8
8.6
6.1
4.6
3.2
6.7
5.5
9.1
8.0

2008
7.7
9.6
2.3
0.7
2.3
1.5
4.3
6.8
5.2
3.7
1.2
4.6
3.1
6.3
5.0

2009
7.2
9.2
2.7
1.9
0.3
0.8
1.7
0.8
0.6
1.7
6.2
2.6
3.6
3.8
1.5

2010
9.5
10.3
7.0
10.9
6.2
14.5
6.1
9.2
7.5
5.2
5.4
4.4
4.5
8.0
4.3

Data Chapters11 Comparisons with Major Countries

124

Data Chapters11 Comparisons with Major Countries

12 Changes in Consumer Prices

Change from previous year : %

Germany

UK


France
Italy
Canada

China

125

13 Official Discount Rates, etc.

End of Year or End of Month Percent Per Month : %

Year Month

Japan
(a)

USA
(b)

UK
(c)


Germany France
Italy
Canada
(a)(e)

China

Japan

USA

2001

0.8

2.8

1.9

1.2

1.8

2.3

2.5

0.7

02

0.9

1.6

1.4

1.3

1.9

2.6

2.3

0.8

2001

0.10

1.75

4.00

3.25

2.25

5.85

03

0.3

2.3

1.0

1.4

2.2

2.8

2.7

1.2

02

0.10

1.25

4.00

2.75

2.75

5.31

03

0.10

1.00

3.75

2.00

2.75

5.31

04

0.10

2.25

4.75

2.00

2.50

5.58

05

0.10

4.25

4.50

2.25

3.25

5.58

(d)

04

0.0

2.7

1.8

1.3

2.3

2.3

1.8

3.9

05

0.6

3.4

1.9

2.0

1.9

2.2

2.2

1.8

06

0.2

3.2

1.8

2.3

1.9

2.2

2.0

1.5

06

0.40

5.25

5.00

3.50

4.25

6.12

07

0.75

4.25

5.50

4.00

4.25

7.47

08

0.30

0-0.25

2.00

2.50

1.50

5.31

09

0.30

0-0.25

0.50

1.00

0.25

5.31

10

0.30

0-0.25

0.50

1.00

1.00

5.81

0.30

0-0.25

0.50

1.00

1.00

5.81

0.30

0-0.25

0.50

1.00

1.00

6.06

0.30

0-0.25

0.50

1.00

1.00

6.06

0.30

0-0.25

0.50

1.25

1.00

6.31

07

0.1

2.9

2.3

2.3

1.6

2.0

2.1

4.8

08

1.4

3.8

2.8

3.6

3.2

3.5

2.4

5.9

09

1.3

0.3

0.2

2.2

0.1

0.8

0.3

0.7

10

0.7

1.6

1.2

3.3

1.7

1.6

1.8

3.3

Forecasts

2011

2011

0.3

3.2

2.4

4.5

2.1

2.7

2.8

5.5

12

0.6

2.4

1.6

2.7

1.4

1.7

1.6

3.3

0.30

0-0.25

0.50

1.25

1.00

6.31

0.30

0-0.25

0.50

1.25

1.00

6.31

0.30

0-0.25

0.50

1.50

1.00

6.56

0.30

0-0.25

0.50

1.50

1.00

6.56

0.30

0-0.25

0.50

1.50

1.00

6.56

10

0.30

0-0.25

0.50

1.50

1.00

6.56

11

0.30

0-0.25

0.50

1.25

1.00

6.56

12

0.30

0-0.25

0.50

1.00

1.00

6.56

13

0.3

1.4

1.5

1.3

1.1

1.1

1.4

Source: Compiled from OECD "Economic Outlook ", No.90, Nov.2011 and IMF's "World Economic Outlook",
Sep.2011

Note: (a)
Official Discount Rate
(b)
Federal Fund (FF) Target Rate
(c)
Repo rate
(d)
Main refinancing operation
(e)
Overnight rate target
Source:
For China, compiled from The People's Bank of China ; for other countries, from BOJ's "Monthly
Report of Recent Economic and Financial Developments."