MENA Exporters Forecasts

 

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Algeria 2019 2020 2021f 2022f 2023f
Nominal GDP $bn 171.1 160.2 165.5 178.3 187.7
Real GDP % 0.1 -4.9 3.3 3.4 3.1
Current A/C % GDP -10.1 -10.0 -8.5 -7.2 -7.1
Budget Balance % GDP -6.7 -10.3 -7.9 -6.4 -6.1
CPI % 2.3 2.8 6.6 10.0 6.3
Iran 2019 2020 2021f 2022f 2023f
Nominal GDP $bn 635.8 909.5 1,274.9 1,525.2 1,667.3
Real GDP % -6.8 3.4 3.0 3.5 4.0
Current A/C % GDP 0.6 -0.1 0.5 0.9 1.2
Budget Balance % GDP -4.6 -5.7 -4.4 -3.8 -3.7
CPI % 36.2 35.9 46.0 25.0 15.0
Iraq 2019 2020 2021f 2022f 2023f
Nominal GDP $bn 228.6 163.5 175.3 197.1 217.2
Real GDP % 6.0 -15.7 2.5 7.6 5.4
Current A/C% GDP 9.4 -3.7 14.6 23.0 19.6
Budget Balance % GDP 0.9 -13.6 -2.3 10.4 3.8
CPI % -0.2 3.2 6.0 6.5 4.5
Libya 2019 2020 2021f 2022f 2023f
Nominal GDP $bn 36.4 13.4 8.7 10.3 11.0
Real GDP % 7.9 -51.1 56.9 9.5 6.3
Current A/C% GDP -6.3 -14.9 15.3 11.2 11.5
Budget Balance % GDP -29.4 -31.6 11.8 7.0 9.5
CPI % -2.2 7.0 5.0 5.5 6.0
Oil Exporters (GDP weighted avg) 2019 2020 2021f 2022f 2023f
Nominal GDP $bn 454.5 701.3 1,034.0 1,263.1 1,385.1
Real GDP % -2.3 0.0 2.9 3.3 4.1
Current A/C % GDP 0.0 -2.1 1.0 2.3 2.4
Budget Balance % GDP -4.6 -6.9 -4.4 -2.8 -3.2
CPI % 22.3 26.9 36.9 21.1 13.2

Source: Haver Analytics, National sources, Emirates NBD Research