Rest of the world.

Rest of the World

                                        GDP
                               % change on year ago

                                            LT forecast

                      latest          2004      2005F    2006 F

Belgium            2.6     Q4 '04      2.7       2.1       2.3
Canada             1.7     Q4 '04      2.8       2.8       3.0
China              9.5     Q4 '04      9.5       8.5       8.0
France             2.1     Q4 '04      2.3       1.8       2.1
Germany            1.5     Q4 '04      1.6       1.0       1.7
Hong Kong          7.1     Q4 '04      8.1       4.0       4.0
India              6.2     Q4 '04      7.3       6.7       6.4
Italy              1.0     Q4 '04      1.0       0.8       1.6
Japan             -0.5     Q4 '04      2.6       0.8       1.9
Korea              3.3     Q4 '04      4.6       4.0       5.2
Netherlands        1.3     Q4 '04      1.4       1.3       2.3
Russia             6.7     Q4 '04      7.1       5.6       5.0
Spain              2.7     Q4 '04      2.7       2.4       2.6
Switzerland        1.2     Q4 '04      1.7       1.2       1.2
United Kingdom     2.9     Q4 '04      3.1       2.7       2.6
United States      3.9     Q4 '04      4.4       3.6       3.6

                                    Consumer prices
                                 % change on year ago

                                              LT forecast

                       latest           2004      2005F    2006 F

Belgium              2.3   Jan '05       1.9       2.2       2.0
Canada               2.0   Jan '05       1.8       2.1       1.9
China                4.3   Oct '04       4.0       4.0       4.5
France               1.6   Jan '05       2.3       1.8       1.5
Germany              1.6   Jan '05       1.8       1.5       1.2
Hong Kong           -0.5   Jan '05      -0.4       1.0       1.1
India                4.4   Jan '05       3.8       4.0       3.6
Italy                1.9   Jan '05       2.3       1.8       1.8
Japan               -0.1   Jan '05       0.0      -0.2       0.0
Korea                3.1   Jan '05       3.6       2.9       3.0
Netherlands          1.5   Jan '05       1.4       1.4       1.1
Russia              12.7   Jan '05      11.7      14.0      10.0
Spain                3.2   Jan '05       3.1       2.7       2.4
Switzerland          1.2   Jan '05       0.8       1.2       1.3
United Kingdom       3.2   Jan '05       1.3       1.8       1.8
United States        3.0   Jan '05       2.7       2.7       2.4

                    Interest rates
                      % per year

                       Lending

Belgium             6.70   Jan '05
Canada              4.25   Jan '05
China               5.58   Dec '04
France              6.60   Jan '05
Germany             2.07   Jan '05 ([double dagger])
Hong Kong           5.00   Jan '05
India              10.75   Nov '04
Italy               2.14   Jan '05 ([double dagger])
Japan               1.73   Jan '05
Korea               5.50   Dec '04
Netherlands         2.75   Jan '05
Russia             10.80   Jan '05
Spain               2.07   Jan '05 ([double dagger])
Switzerland         3.21   Jan '05
United Kingdom      4.75   Jan '05
United States       5.25   Jan '05

                   Exchange rates
                   April 21, 2005

                  per US$  per euro

Belgium             0.76        --
Canada              1.24      1.62
China               8.27     10.82
France              0.76        --
Germany             0.76        --
Hong Kong           7.80     10.21
India              43.58     57.05
Italy               0.76        --
Japan             106.76    139.78
Korea              1,005     1,315
Netherlands         0.76        --
Russia             27.74     36.32
Spain               0.76        --
Switzerland         1.18      1.54
United Kingdom      0.52      0.68
United States         --      1.31

                 International reserves ([dagger])
                           US$ billions

                       latest         year ago

Belgium              9.8   Jan '05      10.9
Canada              34.6   Jan '05      36.3
China              614.5   Jan '05     420.6
France              38.2   Jan '05      34.7
Germany             49.1   Jan '05      51.0
Hong Kong          124.7   Jan '05     123.6
India              125.1   Jan '05     102.1
Italy               27.9   Jan '05      30.6
Japan              830.6   Jan '05     731.4
Korea              199.6   Jan '05     157.4
Netherlands          9.9   Jan '05      11.1
Russia             121.2   Jan '05      80.2
Spain               12.1   Jan '05      17.4
Switzerland         55.3   Jan '05      49.9
United Kingdom      44.5   Jan '05      42.1
United States       70.4   Jan '05      74.2

                    Unemployment rate
                       % rate

                       latest

Belgium              7.9   Jan '05
Canada               7.5   Jan '05
China                 --   --
France              10.1   Jan '05
Germany             13.5   Jan '05
Hong Kong            6.1   Dec-Feb '05
India                 --   --
Italy                8.0   Q4 '04
Japan                4.5   Jan '05
Korea                3.9   Jan '05
Netherlands          6.4   Nov-Jan '05
Russia                --   --
Spain               10.4   Q4 '04
Switzerland          4.1   Jan '05
United Kingdom       2.8   Jan '05
United States        5.7   Jan '05

([dagger]) Excluding gold. IMF definition.

([double dagger]) Money market rate.

SOURCE: IMF, individual countries, Oanda, LATIN TRADE