Emirates NBD Research
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MENA Exporters Forecasts
| 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