World Development Report 1984

In Table 11, food commodities are those in SITC quited transfers to the rest of the world. The cur-
Sections 0, 1, and 4 and in Division 22 (food and rent account estimates are primarily from IMF data
live animals, beverages and tobacco, and oils and files.
fats). Fuels are the commodities in SITC Section 3 Workers' remittances cover remittances of income
(mineral fuels, lubricants, and related materials). by migrants who are employed or expected to be
Otiher primary commodities comprise SITC Section 2 employed for a year or more in their new econ-
(crude materials excluding fuels) less Division 22 omy, where they are considered residents.
(oilseeds and nuts) plus Division 68 (nonferrous Net direct private investment is the net amount
metals). Machinery and transport equipment are the invested or reinvested by nonresidents in entercommodities
in SITC Section 7. Other manufactures, prises in which they or other nonresidents exercise
calculated as the residual from the total value of significant managerial control. Including equity
manufactured imports, represent SITC Sections 5 capital, reinvested earnings, and other capital,
through 9 less Section 7 and Division 68. these net figures also take into account the value of
The summary measures in Table 10 are weighted direct investment abroad by residents of the
by merchandise exports in current dollars; those in reporting country. These estimates were compiled
- Table 11, by merchandise imports in current dol- primarily from IMF data files.
lars. Gross international reserves comprise holdings of
gold, special drawing rights (SDRs), the reserve
Table 12. Origin and destination of position of IMF members in the Fund, and holdmerchandise
exports ings of foreign exchange under the control of monetary
authorities. The data on holdings of
Merchandise exports are defined in the note for Table international reserves are from IMF data files. The
9. Trade shares in this table are based on statistics gold component of these reserves is valued
on the value of trade in current dollars from the throughout at year-end London prices: that is,
UN and the IMF. Unallocated exports are distrib- $37.37 an ounce in 1970 and $456.90 an ounce in
uted among the economy groups in proportion to 1982. The reserve levels for 1970 and 1982 refer to
their respective shares of allocable trade. Industrial the end of the year indicated and are in current
market economies also include Gibraltar, Iceland, dollars at prevailing exchange rates. Due to differand
Luxembourg; high-income oil exporters also ences in the definition of international reserves, in
include Bahrain, Brunei Darussalam, and Qatar. the valuation of gold, and in reserve management
The summary measures are weighted by merchan- practices, the levels of reserve holdings published
dise exports in current dollars. in national sources do not have strictly comparable
significance. Reserve holdings at the end of 1982
Table 13. Origin and destination of are also expressed in terms of the number of
manufactured exports months of imports of goods and services they
could pay for, with imports at the average level for
The data in this table are from the UN and are 1981 or 1982. The summary measures are weighted
among those used to compute special Table B in by imports of goods and services in current dolthe
UN Yearbook of International Trade Statistics. lars.
Manufactured goods are the commodities in SITC
(Revised) Sections 5 through 9 (chemicals and Table 15. Flow of public and publicly
related products, manufactured articles, and
machinery and transport equipment) excluding
Division 68 (nonferrous metals). The data on debt in this and successive tables are
The economy groups are the same as those in from the World Bank Debtor Reporting System.
Table 12. The summary measures are weighted by That system is concerned solely with developing
manufactured exports in current dollars. economies and does not collect data on external
debt for other groups of borrowers. Nor are com-
Table 14. Balance of payments and reserves prehensive comparable data available from other
sources.
The current account balance is the difference Data on the gross inflow and repayment of principal
between (1) exports of goods and services plus (amortization) are for public and publicly guaraninflows
of unrequited official and private transfers teed medium- and long-term loans. The net inflow
and (2) imports of goods and services plus unre- is the gross inflow less the repayment of principal.
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