CEE Economic Data. Outlook for Issue 2 A PRODUCT OF UNICREDIT GROUP NEW EUROPE RESEARCH NETWORK

Transcription

1 CEE Economic Data Outlook for Issue 2 A PRODUCT OF UNICREDIT GROUP NEW EUROPE RESEARCH NETWORK

2 UniCredit Group New Europe Research Network Debora Revoltella UniCredit CEE Chief Economist Network Coordinator UniCredit Group, CEE Economic Research Carmelina Carluzzo, Matteo Ferrazzi, Hans Holzhacker, Fabio Mucci, Lisa Perrin, Bernhard Sinhuber, Gerd Stiglitz UniCredit Bulbank, Planning and Control Division, Economic Research Unit Kristofor Pavlov, Chief Economist Elena Georgieva, Milen Kasabov, Katerina Topalova Zagrebacka banka, Macroeconomic Research Goran Saravanja, Chief Economist Nenad Golac Zivnostenska Banka, Financial Markets Division Patrik Rozumbersky, Chief Economist Bank Pekao, Macroeconomic Research Office Andrzej Bratkowski, Chief Economist UniCredit Tiriac Bank, Economic Research Rozalia Pal, Senior Economist Anca Mihaela Stoica UniCredit Bank Slovakia, Macroeconomics & Market Analyses Viliam Patoprsty, Chief Analyst Lubomir Korsnak Yapı Kredi Bankası Cevdet Akcay, Chief Economist Ahmet Cimenoglu, Head, Strategic Planning and Research Murat Can Aslak, Eren Ocakverdi, Yelda Yucel, International Moscow Bank Treasury Sergei Alenkin, Valery Inyushin, Sergei Kondrashov, Dimitriy Marushkevich UniCredit Bank Hungary Márta Bíróné-Szegő, Chief Economist Tibor Nagy UniCredit Group Research and Strategy Andrea Brasili Imprint Published by UniCredit Group/Bank Austria Creditanstalt Aktiengesellschaft Edited by CEE Economics Department Bernhard Sinhuber, Tel. +43 (0) Produced by BA-CA Public Relations Tel. +43 (0) Layout: Miriam Weigel Front page: Skibar grafik design Printed by Gutenberg Closing Date: 1st October 2007 Disclaimer This document (the Document ) has been prepared by UniCredit Group. The Document is for information purposes only and is not intended as (i) an offer, or solicitation of an offer, to sell or to buy any financial instrument and/or (ii) a professional advice in relation to any investment decision. The Document is being distributed by electronic and ordinary mail to professional investors and may not be redistributed, reproduced, disclosed or published in whole or in part. Information, opinions, estimates and forecasts contained herein have been obtained from or are based upon sources believed by the UniCredit Group to be reliable but no representation or warranty, express or implied, is made and no responsibility, liability and/or indemnification obligation shall be borne by the UniCredit Group vis-à-vis any recipient of the present Document and/or any third party as to the accuracy, completeness and/or correctness of any information contained in the Document. The UniCredit Group is involved in several businesses and transactions that may relate directly or indirectly to the content of the Document. Accordingly, the UniCredit Group may hold a position or act as market maker in any financial instrument mentioned in the Document. Information, which is not reflected in the Document, may therefore be available to persons connected with the UniCredit Group. The Document has been approved for distribution in UK by the London branch of UniCredit Banca Mobiliare S.p.A., regulated by the FSA for the conduct of investment business in the UK. It has not been approved for distribution to or for the use of private customers, as defined by the rules of the FSA. The Document may not be distributed in USA, Canada, Japan or Australia.

3 CONTENTS Bosnia and Herzegovina Bulgaria Croatia Czech Republic Estonia Hungary Latvia Lithuania Poland Romania Russia Serbia Slovakia Slovenia Turkey Ukraine Eurozone Austria Germany Italy Bosna i Hercegovina Hrvatska âeská republika Eesti Magyarország Latvija Lietuva Polska Romania Srbija Slovensko Slovenija Turkiye Euroland Österreich Deutschland Italia

4 BOSNIA AND HERZEGOVINA UNICREDIT ZAGREBANCKA BANKA KARDINALA STEPINCA B.B. BH MOSTAR TEL. ( ) ^ HVB CENTRAL PROFIT BANKA ZELENIH BERETKI 24 BH SARAJEVO TEL. ( ) Structural Indicators Strukturni pokazatelji Area (km2) PovrÂina (km2) Population in mn StanovniÂtvo (u milionima) President Predsjednik Prime Minister Premijer GDP (2006 in EUR bn) BDP (za godinu, u milijardama EUR) Per capita GDP (2006 in EUR) BDP po glavi stanovnika (BDP za godinu, u EUR) Exports in % of GDP (2006) Izvoz u % BDP-a (2006) 64, Zeljko Komsic Nikola Spiric ˇ 9.8 2, Gross domestic product by economic sectors (in %) 2006 Bruto nacionalni prozvod po privrednim sektorima 2006 Agriculture and forestry Poljoprivreda i Âumarstvo 10.3 Industry Industrija 19.3 Construction Gradevinarstvo 5.0 Services Usluge

5 BOSNA I HERCEGOVINA NOVA BANJALUCKA BANKA MARIJE BURSAC 7 BH BANJA LUKA TEL. ( ) ^ Indicators Pokazatelji GDP real (yoy, in %) Bruto domaci proizvod (realno, godiâna stopa, u %) Gross fixed capital formation (real, yoy, %) Bruto investicije u osnovna (realno, godiâna stopa, u %) Industrial output (real, yoy, in %) Industrijska proizvodnja (realno, godiâna stopa, u %) Consumer prices (yearly average) PotroÂaãke cijene (godiânji prosjek) Unemployment rate (yearly average) Nezaposlenost (godiânji prosjek) Merchandise exports (in EUR mn) Izvoz robe (u mil. EUR) 2,087 2,687 3,119 3,579 4,090 Merchandise imports (in EUR mn) Uvoz robe (u mil. EUR) 6,093 6,093 7,414 8,564 9,715 Current account (in % of GDP) Tekuci bilans (u % BDP-a) FDI (inflow, in % of GDP) Direktne strane investicije (priliv u % BDP-a) Budget balance (in % of GDP) BudÏetska ravnoteïa (u % BDP-a) Gross foreign debt (in % of GDP) Bruto inostrani dug (u % BDP-a) Average exchange rate : BAM/EUR BAM/EUR (godiânji prosjek) ECB REFI rate (end of December) ECB REFI rate (rate stopa) Total Loans (yoy, in %) Ukupni krediti (godiâna stopa, u %) Total Deposits, (yoy, in %) Ukupni depoziti (godiâna stopa, u %)

6 BULGARIA UNICREDIT BULBANK SVETA NEDELYA SQ. 7 BG 1000 SOFIA TEL. (+359 2) Structural Indicators Area (km2) (. ) Population in mn. President Prime Minister GDP (2006 in EUR bn) (2006,. ) Per capita GDP (2006 in EUR) (2006, ) Exports in % of GDP (2006) % (2006) 110, Georgy Parvanov Sergey Stanishev , Gross domestic product by economic sectors (in %) 2006 ш ( %) 2006 Agriculture and forestry 7.0 Industry ш 25.6 Construction 18.6 Services

7 Indicators GDP real (yoy, in %) ( x , %) Gross fixed capital formation (real, yoy, %) ( x, %) Industrial output (real, yoy, in %) ш ( x, %) Consumer prices (yearly average) ( ш ) Unemployment rate (yearly average) ( ш ) Merchandise exports (in EUR mn) ( ) Merchandise imports (in EUR mn) ( ) 9,466 11,983 14,619 17,396 20,267 13,876 17,373 20,760 23,874 26,739 Current account (in % of GDP) ( % ) FDI (inflow, in % of GDP) (, % ) Budget balance (in % of GDP) ( ) / ш (+) ( % ) Gross foreign debt (in % of GDP) ш ( % ) Average exchange rate : BGN/EUR : BGN/EUR M SOFIBOR avg of Dec 1 N, Total Loans (yoy, in %) ш ( x, %) Total Deposits (yoy, in %) 31.9 ш ( x, %)

8 CROATIA ZAGREBACKA BANKA PAOMLINSKA 2 HR ZAGREB TEL. (+385 1) Structural Indicators Strukturni pokazatelji Area (km2) PovrÂina (km2) Population in mn StanovniÂtvo u mio President Predsjednik republike Prime Minister Predsjednik vlade GDP (2006 in EUR bn) BDP (2006. u mld EUR) Per capita GDP (2006 in EUR) BDP po glavi stanovnika (2006. u EUR) Exports in % of GDP (2006) Izvoz u % BDP (2006) 56, Stjepan Mesic Ivo Sanader , Gross domestic product by economic sectors (in %) 2006 Bruto domaci proizvod po djelatnostima 2006 Agriculture and forestry Poljoprivreda i Âumarstvo 6.2 Industry Industrija 20.5 Construction Gradevinarstvo 5.9 Services Usluge

9 HRVATSKA Indicators Pokazatelji GDP real (yoy, in %) Realni BDP (godiâna stopa, u %) Gross fixed capital formation (real, yoy, %) Investicije u osnovna sredstva (realno, godiâna stopa, u % Industrial output (real, yoy, in %) Industrijska proizvodnja (realno, godiâna stopa, u %) Consumer prices (yearly average) PotroÂaãke cijene (godiânji prosjek) Unemployment rate (yearly average) Nezaposlenost (godiânji prosjek) Merchandise exports (in EUR mn) Izvoz robe (u mio EUR) Merchandise imports (in EUR mn) Uvoz robe (u mio EUR) Current account (in % of GDP) Tekuci raãun (u % BDP) FDI (inflow, in % of GDP) Izravna inozemna ulaganja (neto priljev, u % BDP) Budget balance (in % of GDP) Proraãunska ravnoteïa (u % BDP) Gross foreign debt (in % of GDP) Bruto inozemni dug (u % BDP) Average exchange rate : HRK/EUR Prosjeãni devizni teãaj: HRK/EUR 1W Zibor, avg 1TJ ZIBOR, prosjeãno Total Loans (yoy, in %) Ukupni krediti (godiâna stopa, u %) Total Deposits (yoy, in %) Ukupni depoziti (godiâna stopa, u %) ,217 8,434 9,024 9,629 10,274 14,738 16,798 17,996 19,075 20,

10 CZECH REPUBLIC HVB BANK CZECH REPUBLIC NAM. REPUBLIKY 3A CZ PRAGUE 1 TEL. (+420) Structural Indicators Strukturální ukazatele Area (km2) Rozloha (km2) Population in mn Poãet obyvatel v mil. President Prezident Prime Minister Pfiedseda vlády GDP (2006 in EUR bn) HDP (2006, v mld. EUR) Per capita GDP (2006 in EUR) HDP na jednoho obyvatele (2006, v EUR) Exports in % of GDP (2006) V voz v % HDP (2006) 78, Václav Klaus Mirek Topolanek , Gross domestic product by economic sectors (in %) 2006 Hrub domácí produkt podle hospodáfisk ch sektorû 2006 Agriculture and forestry Zemûdûlství a lesnictví 2.7 Industry PrÛmysl 32.3 Construction Stavebnictví 6.8 Services SluÏby

11 CZECH REPUBLIC ^ ZIVNOSTENSKÁ BANKA NA PRIKOPE 858/20 CZ PRAGUE 1 TEL. (+420) WWW1.ZIVNOBANKA.CZ Indicators Ukazatele GDP real (yoy, in %) Reáln HDP (meziroãní rûst, v %) Gross fixed capital formation (real, yoy, %) Tvorba hrubého fixního kapitálu (reálná, meziroãní rûst, v %) Industrial output (real, yoy, in %) PrÛmyslová v roba (reálná, meziroãní rûst, v %) Consumer prices (yearly average) Spotfiebitelské ceny (roãní konec období) Unemployment rate (yearly average) Nezamûstnanost (roãní prûmûr) Merchandise exports (in EUR mn) V voz zboïí (v mil. EUR) Merchandise imports (in EUR mn) Dovoz zboïí (v mil. EUR) Current account (in % of GDP) BûÏn úãet (v % HDP) FDI (inflow, in % of GDP) Pfiímé zahraniãní investice (pfiiliv, hrubá vyâe v % HDP) Budget balance (in % of GDP) Bilance rozpoãtu (v % HDP) Gross foreign debt (in % of GDP) Hrubá zahraniãní zadluïenost (v % HDP) Average exchange rate : CZK/EUR PrÛmûrn smûnn kurz: Kã/EUR 2-week repo rate, eop 2-t denní repo sazba (konec obodobí) Total Loans (yoy, in %) Celkové úvûry (meziroãní rûst, v %) Total Deposits (yoy, in %) Celková depozita (meziroãní rûst, v %) ,738 75,645 87,786 97, ,587 60,745 73,238 84,214 93, ,

12 ESTONIA UNICREDIT BANK ESTONIA BRANCH LIIVALAIA STREET 13/15 EST TALLINN TEL. (+372) Structural Indicators Struktuurilised tegurid Area (km2) Pindala (km2) Population in mn Rahvastik, mln President President Prime Minister Peaminister GDP (2006 in EUR bn) Sisemajanduse koguprodukt (SKP) (2006 a. mlr EUR) Per capita GDP (2006 in EUR) Sisemajanduse koguprodukt (SKP) elaniku kohta (2006 a. EUR) Exports in % of GDP (2006) Eksport % SKP (2006) 45, Toomas Hendrik Ilves Andrus Ansip , Gross domestic product by economic sectors (in %) 2006 Sisemajanduse koguprodukt majandussektorite lõikes (%) 2006 Agriculture and forestry Põllumajandus ja metsandus 3.2 Industry Tööstus 21.1 Construction Ehitus 8.0 Services Teenindus

13 EESTI Indicators Tegurid GDP real (yoy, in %) Reaalne SKP (võrreldes eelmise aastaga, %) Gross fixed capital formation (real, yoy, %) Kapitali kogumahutus põhikapital (tegelik, võrreldes eelmise aastaga, %) Industrial output (real, yoy, in %) Tööstustoodang (tegelik, võrreldes eelmise aastaga, %) Consumer prices (yearly average) Tarbijahinnaindeks (aasta keskmine) Unemployment rate (yearly average) Töötus (aasta keskmine) Merchandise exports (in EUR mn) Kauba eksport (mln EUR) 6,273 7,644 8,505 9,574 10,836 Merchandise imports (in EUR mn) Kauba import (mln EUR) 7,762 9,779 11,308 12,270 13,473 Current account (in % of GDP) Jooksevkonto (% SKP) FDI (inflow, net in % of GDP) Välismaised otseinvesteeringud (neto % SKP) Budget balance (in % of GDP) Eelarve tasakaal (% SKP) Gross foreign debt (in % of GDP) Koguvälisvõlg (% SKP) Average exchange rate : EEK/EUR Keskmine vahetuskurss: EEK/EUR M Talibor, eop 3 kuu Talibor (aasta lõpu seisuga) Total Loans (yoy, in %) Laenude kogumaht (võrreldes eelmise aastaga, %) Total Deposits (yoy, in %) Deposiitide kogumaht (võrreldes eelmise aastaga, %)

14 HUNGARY UNICREDIT BANK SZABADSÁG TÉR 5 6 H-1054 BUDAPEST TEL. (+36 1) Structural Indicators Alapadatok Area (km2) Terület (km2) Population in mn Népesség (millióban) President Köztársasági elnök Prime Minister Miniszterelnök GDP (2006 in EUR bn) Bruttó hazai össztermék (2006-ban, mrd EUR-ban) Per capita GDP (2006 in EUR) Egy fore eso bruttó hazai össztermék (2006-ban, EUR-ban) Exports in % of GDP (2006) Kivitel a GDP %-ában (2006) 93, László Sólyom Ferenc Gyurcsány , Gross domestic product by economic sectors (in %) 2006 Bruttó hazai össztermék hozzáadott értéke 2006 Agriculture and forestry Mezogazdaság és erdogazdálkodás 4.1 Industry Ipar 26.1 Construction Építoipar 4.6 Services Szolgáltatások

15 MAGYARORSZÁG Indicators Gazdasági mutatók GDP real (yoy, in %) Reál bruttó hazai össztermék (év/év, %-ban) Gross fixed capital formation (real, yoy, %) Bruttó felhalmozás (reál, év/év, %-ban) Industrial output (real, yoy, in %) Ipari termelés (reál, év/év, %-ban) Consumer prices (yearly average) Fogyasztói árindex (éves átlag) Unemployment rate (yearly average) Munkanélküliségi ráta (éves átlag) Merchandise exports (in EUR mn) Áruexport (millió EUR ben) Merchandise imports (in EUR mn) Áruimport (millió EUR ben) 50,151 58,428 68,693 76,583 85,773 51,607 58,848 69,159 76,755 85,966 Current account (in % of GDP) Folyó fizetési mérleg egyenlege (a GDP %-ában) FDI (inflow, net in % of GDP) Külföldi muködotoke (beáramlás, nettó, a GDP %-ában) Budget balance (in % of GDP) Költségvetési egyenleg (a GDP %-ában) Gross foreign debt (in % of GDP) Bruttó külföldi adósság (a GDP %-ában) Average exchange rate : HUF/EUR Átlagos árfolyam: HUF/EUR week repo rate, eop Kéthetes jegybanki betétkamat Total Loans (yoy, in %) Teljes hitelállomány Total Deposits (yoy, in %) Teljes betétállomány

16 LATVIA UNICREDIT BANK ELIZABETES IELA 63 LV-1050 RIGA TEL. (+371) Structural Indicators Strukturas radıtaji Area (km2) Platıba (km2) Population in mn Iedzıvotaju skaits. milj. President Prezidente Prime Minister Premjerministrs GDP (2006 in EUR bn) IKP (2006, miljardos EUR) Per capita GDP (2006 in EUR) IKP uz vienu iedzıvotaju (2006, EUR) Exports in % of GDP (2006) Eksports % no IKP (2006) 64, Valdis Zatlers Aigars Kalvitis , Gross domestic product by economic sectors (in %) 2006 IKP pa sektoriem 2006 Agriculture and forestry Lauksaimniecıba un meïsaimniecıba 4.0 Industry Rupniecıba 15.2 Construction Celtniecıba 6.8 Services Pakalpojumi

17 LATVIJA Indicators Radıtaji GDP real (yoy, in %) Realais IKP (salıdzinot ar iepriekâejo gadu, %) Gross fixed capital formation (real, yoy, %) Kopeja pamatkapitala veidoâanas (reala, salıdzinot ar iepriekâejo gadu, %) Industrial output (real, yoy, in %) Rupniecıbas produkcija (reala, salıdzinot ar iepriekâejo gadu, %) Consumer prices (yearly average) Paterina cenas (gada videjas) Unemployment rate (yearly average) Bezdarbs (gada videjais) Merchandise exports (in EUR mn) Preãu eksports (milj. EUR) Merchandise imports (in EUR mn) Preãu imports (milj. EUR) Current account (in % of GDP) TekoÂais konts (% no IKP) FDI (inflow, net in % of GDP) Arvalstu tieâas investıcijas (iepludums, neto % no IKP) Budget balance (in % of GDP) BudÏeta atlikums (% no IKP) Gross foreign debt (in % of GDP) Kopejais arejais parads (% no IKP) Average exchange rate : LVL/EUR Videjais valutas mainas kurss: LVL /EUR 3M Rigibor, eop 3-meneÂu Rigibor likme (perioda beigas) Total Loans (yoy, in %) Kopejie aizdevumi (gada laika, %) Total Deposits (yoy, in %) Kopejie noguldıjumi (gada laika, %) ,313 4,813 5,976 6,901 7,612 6,753 8,729 11,596 14,015 16,

18 LITHUANIA UNICREDIT BANK LITHUANIA BRANCH VILNIAUS GATVE 35/3 LT VILNIUS TEL. (+370 5) Structural Indicators Bendrieji rodikliai Area (km2) Plotas (km2) Population in mn Gyventoju skaiãius, mln President Prezidentas Prime Minister Ministras pirmininkas GDP (2006 in EUR bn) Bendras vidaus produktas (BVP, 2006, bil. Euras) Per capita GDP (2006 in EUR) BVP tenkantis 1 gyventojui (2006, Euras) Exports in % of GDP (2006) Eksportas % nuo BVP (2006) 65, Valdas Adamkus Gediminas Kirkilas , Gross domestic product by economic sectors (in %) 2006 Bendras vidaus produktas pagal ekonominius sektorius 2006 Agriculture and forestry emes ukis ir miâkininkyste 5.3 Industry Pramone 26.6 Construction Statyba 8.6 Services Paslaugos

19 LIETUVA Indicators Rodikliai GDP real (yoy, in %) BVP (metinis, %) Gross fixed capital formation (real, yoy, %) 9.2 Bendro pagrindinio kapitalo sudarymas (grynas, metinis, %) Industrial output (real, yoy, in %) Pramones apimtis (grynas, metinis, %) Consumer prices (yearly average) Vartojimo prekiu kainos (vidutines metines) Unemployment rate (yearly average) Nedarbo lygis (vidutinis metinis) Merchandise exports (in EUR mn) Prekiu eksportas (mln. Euras) Merchandise imports (in EUR mn) Prekiu importas (mln. Euras) 9,490 11,240 12,241 13,355 14,477 11,849 14,546 16,830 19,035 21,262 Current account (in % of GDP) Einamoji saskaita (% lyginant su BVP) FDI (inflow, net in % of GDP) Tiesiogines uïsienio investicijos (TUI) (grynosiplaukos % nuo BVP) Budget balance (in % of GDP) BiudÏeto balansas (% lyginant su BVP) Gross foreign debt (in % of GDP) Bendra uïsienio skola (% nuo BVP) Average exchange rate : LTL/EUR Vidutinis valiutos kursas: LTL/ Euras 3M Vilibor, eop 3 menesiu Vilibor palukanu norma (procentais, laikotarpio pabaiga) Total Loans (yoy, in %) IÂ viso paskolu (palyginti su tuo paciu ˇ laikotarpiu pries metus, procentais) Total Deposits (yoy, in %) IÂ viso depozitu (palyginti su tuo paciu ˇ laikotarpiu pries metus, procentais) 19

20 POLAND BANK PEKAO UL. GRZYBOWSKA 53/57 PL WARSAW TEL. (+48 42) Structural Indicators Wskazniki strukturalne Area (km2) Obszar (km2) Population in mn Ludnosã w mln President Prezydent Prime Minister Premier GDP (2006 in EUR bn) Produkt Krajowy Brutto (PKB w 2006 roku, w bln EUR) Per capita GDP (2006 in EUR) PKB na jednego mieszkanca (w 2006 roku, w EUR) Exports in % of GDP (2006) Udzial eksportu w PKB (2006) 312, Lech Kaczynski Jaroslaw Kaczynski , Gross domestic product by economic sectors (in %) 2006 Produkt Krajowy Brutto z podzialem na sektory gospodarki 2006 ı Agriculture and forestry Rolnictwo i lesnictwo 4.5 Industry Przemysl 24.9 Construction Budownictwo 6.6 Services Uslugi

21 POLSKA Indicators Wskazniki GDP real (yoy, in %) PKB realny (rok do roku, w %) Gross fixed capital formation (real, yoy, %) Naklady brutto na srodki trwale (realna, rok do roku, w %) Industrial output (real, yoy, in %) 3.7 Produkcja sprzedana przemyslu (realna, rok do roku, w %) Consumer prices (yearly average) Srednioroczne ceny produktów konsumpcyjnych Unemployment rate (yearly average) Bezrobocie (srednie w ciagu roku) Merchandise exports (in EUR mn) Eksport towarów (w mln EUR) 77,497 93, , , ,760 Merchandise imports (in EUR mn) Import towarów (w mln EUR) 79,737 97, , , ,660 Current account (in % of GDP) Saldo rachunku biezacego (udzial w PKB w %) FDI (inflow, net in % of GDP) Bezposrednie inwestycje zagraniczne (wplywy netto w % PKB) Budget balance (in % of GDP) Saldo budzetu (w % PKB) Gross foreign debt (in % of GDP) Dlug zagraniczny (w % PKB) Average exchange rate : PLN/EUR Sredni kurs: PLN do EUR Reference rate, eop Stopa podstawowa NBP, koniec okresu Total Loans (yoy, in %) Kredyty ogólem (rok do roku, w %) Total Deposits (yoy, in %) Depozyty ogólem (rok do roku, w %)

22 ROMANIA UNICREDIT TIRIAC BANK GHETARILOR STR. RO BUCHAREST TEL. (+40 21) Structural Indicators Indicatori de structuraˇ Area (km2) Suprafata (km2) Population in mn Populatia, ˆın mil. President Presedinte Prime Minister Prim Ministru GDP (2006 in EUR bn) PIB (2006, ın ˆ mrd. EUR) Per capita GDP (2006 in EUR) PIB / cap de locuitor (2006, ın ˆ EUR) Exports in % of GDP (2006) Exporturi ın ˆ % din PIB (2006) 238, Traian Basescu Calin Popescu Tariceanu , Gross domestic product by economic sectors (in %) 2006 Produsul Intern Brut pe sectoare ˇ 2006 Agriculture and forestry Agricultura si silvicultura 9.1 Industry Industrie 27.0 Construction Constructii 7.9 Services Servicii

23 ˇ ROMANIA Indicators Indicatori GDP real (yoy, in %) PIB real (an curent/an precedent, ˆın %) Gross fixed capital formation (real, yoy, %) Formarea bruta de capital (reala, an curent/ an precedent, ın ˆ %) Industrial output (real, yoy, in %) Productia industriala (reala, an curent/an precedent, ˆın %) Consumer prices (yearly average) Preturi de consum (media anuala) Unemployment rate (yearly average) Rata somajului (media anuala) Merchandise exports (in EUR mn) Exportul de bunuri (ın ˆ mil. EUR) Merchandise imports (in EUR mn) Importul de bunuri (ın ˆ mil. EUR) Current account (in % of GDP) Cont curent (ın ˆ % din PIB) FDI (inflow, net in % of GDP) Investitiile straine directe (net ˆın % din PIB) Budget balance (in % of GDP) Soldul bugetar (ın ˆ % din PIB) Gross foreign debt (in % of GDP) Datoria externa bruta (ın ˆ % din PIB) Average exchange rate: RON/EUR Cursul mediu de schimb: RON/EUR Policy rate, eop Rata dobanzii ˆ de politica monetara, la sfarsitul ˆ perioadei Total Loans (yoy, in %) Total Credite (an curent/an precedent, ın ˆ %) Total Deposits (yoy, in %) Total Depozite (an curent/an precedent, ın ˆ %) ,851 29,987 34,035 38,459 30,061 37,609 47,388 55,207 62,

24 RUSSIA INTERNATIONAL MOSCOW BANK PRECHISTENSKAYA EMB. 9 RF MOSCOW TEL. (+7 095) Structural Indicators Area (km2) ( 2) Population in mn. President Prime Minister - GDP (2006 in EUR bn) (2006., x Per capita GDP (2006 in EUR) ш (2006., ) Exports in % of GDP (2006) % (2006) s s 16,995, Vladimir Putin Viktor Zubkov , Gross domestic product by economic sectors (in %) Agriculture and forestry x 4.2 Industry ш 25.3 Construction 5.1 Services

25 YAPI KREDI MOSCOW GONCHARNAYA EMB 2 RF MOSCOW TEL. (+7 495) Indicators GDP real (yoy, in %) (%) Gross fixed capital formation (real, yoy, %) (%) Industrial output (real, yoy, in %) (%) Consumer prices (yearly average) ( ) Unemployment rate (yearly average) ( ) Merchandise exports (in EUR mn) ( x ) Merchandise imports (in EUR mn) ( x ) Current account (in % of GDP) ш x ( % ) FDI (inflow, in % of GDP) (, % ) Budget balance (in % of GDP) ( % ) Gross foreign debt (in % of GDP) ш ( % ) Average exchange rate: RUB/EUR RUB/EUR 2-W Mosprime eop 2-W u Total Loans (yoy, in %) ı ı, % Total Deposits (yoy, in %) ı ı, % , , , , , , , , , ,

26 SERBIA UNICREDIT BANK RAJICEVA SCG BELGRADE TEL. ( ) Structural Indicators Strukturalni indikatori Area (km2) PovrÂina (km 2 ) Population in mn StanovniÂtvo (u milionima) President Predsednik Prime Minister Premijer GDP (2006 in EUR bn) Bruto nacionalni proizvod (za godinu, u milijardama EUR) Per capita GDP (2006 in EUR) Bruto nacionalni proizvod po glavi stanovnika (za godinu u EUR) Exports in % of GDP (2006) % izvoza u bruto nacionalnom proizvodu (2006) 102, Boris Tadic Vojislav Kostunica , Gross domestic product by economic sectors (in %) 2006 Bruto nacionalni proizvod po privrednim sektorima 2006 Agriculture and forestry Poljoprivreda i Âumarstvo 12.9 Industry Industrija 20.8 Construction Graêevinarstvo 3.5 Services Usluge

27 SRBIJA Indicators Indikatori GDP real (yoy, in %) Realni bruto nacionalni proizvod (godina za godinu, u %) Gross fixed capital formation (real, yoy, %) Bruto stalna akumulacija kapitala (realna, godina za godinom, u %) Industrial output (real, yoy, in %) Industrijski proizvod (realan, godina za godinom, u %) Consumer prices (yearly average) PotroÂaãke cene (godiânji prosek) Unemployment rate (yearly average) Nezaposlenost (godiânji prosek) Merchandise exports (in EUR mn) Izvoz robe (u milionima EUR) Merchandise imports (in EUR mn) Uvoz robe (u milionima EUR) Current account (in % of GDP) Platni bilans (u % bruto nacionalnog proizvoda) FDI (inflow, in % of GDP) Direktne strane investicije (priliv, u % bruto nacionalnog proizvoda) Budget balance (in % of GDP) Bilans budïeta (u % bruto nacionalnog proizvoda) Gross foreign debt (in % of GDP) Bruto inostrani dug (u % bruto nacionalnog proizvoda) Average exchange rate: CSD/EUR Proseãni kurs razmene: CSD/EUR Interbank rate, eop Medubankarska kamatna stopa (u %, dekurzivno) Total Loans (yoy, in %) Ukupno krediti (na godiânjem nivou, u %) Total Deposits (yoy, in %) Ukupno depoziti (na godiânjem nivou, u %) ,003 5,172 5,921 6,994 7,867 8,264 10,140 11,473 13,436 15,

28 SLOVAKIA UNICREDIT BANK SANCOVÁ 1/A SK BRATISLAVA ^ TEL. (+42 1) Structural Indicators Základné údaje Area (km2) Rozloha (km2) Population in mn Obyvatel stvo (v mil.) President Prezident Prime Minister Predseda vlády GDP (2006 in EUR bn) HDP (2006 v mld. EUR) Per capita GDP (2006 in EUR) HDP (2006 v EUR) na 1 obyvatel a Exports in % of GDP (2006) V voz v % HDP (2006) 64, Ivan GaÂparoviã Robert Fico , Gross domestic product by economic sectors (in %) 2006 Hrub domáci produkt a hrubá pridaná hodnota v ekonomick ch sektoroch 2006 Agriculture and forestry Pol nohospodárstvo a lesné hospodárstvo 3.6 Industry Priemysel 25.4 Construction Stavebníctvo 6.2 Services SluÏby

29 SLOVENSKO Indicators Ukazovatele GDP real (yoy, in %) Reálny HDP (medziroãne, v %) Gross fixed capital formation (real, yoy, %) Tvorba hrubého fixného kapitálu (v stálych cenách, medziroãne, v %) Industrial output (real, yoy, in %) Priemyselná v roba (v stálych cenách, medziroãne, v %) Consumer prices (yearly average) Spotrebitel ské ceny (roãn priemer) Unemployment rate (yearly average) Nezamestnanost (roãn priemer) Merchandise exports (in EUR mn) V voz tovarov (v mil. EUR) Merchandise imports (in EUR mn) Dovoz tovarov (v mil. EUR) 25,743 33,273 43,257 50,415 56,192 27,713 35,733 44,303 50,870 55,882 Current account (in % of GDP) BeÏn úãet (v % z HDP) FDI (inflow, in % of GDP) Priame zahraniãné investície (prílev, netto v % z HDP) Budget balance (in % of GDP) Saldo rozpoãtu (v % z HDP) Gross foreign debt (in % of GDP) Hrubé zahraniãné zadlïenie (v % z HDP) Average exchange rate: SKK/EUR Priemern v menn kurz (SKK/EUR) EUR 2W repo rate, eop dvojt Ïdnová Repo sadzba NBS (koniec obdobia) Total Loans (yoy, in %) Celkové úvery (medziroãne, v %) Total Deposits (yoy, in %) Celkové vklady (medziroãne, v %)

30 SLOVENIA UNICREDIT BANK SMARTINSKA ˇ CESTA 140 SI-1000 LJUBLJANA TEL. (+386 1) Structural Indicators Strukturni kazalci Area (km2) povrâina (km2) Population in mn prebivalstvo v mio President predsednik republike Prime Minister predsednik vlade GDP (2006 in EUR bn) BDP (2006 v mlrd EUR) Per capita GDP (2006 in EUR) BDP na prebivalca (2006 v EUR) Exports in % of GDP (2006) izvoz v % od BDP (2006) 20, Janez DrnovÂek Janez JanÂa , Gross domestic product by economic sectors (in %) 2006 Bruto domaãi proizvod po gospodarskih panogah 2006 Agriculture and forestry Kmetijstvo in gozdarstvo 2.6 Industry Industrija 32.4 Construction GradbeniÂtvo 5.9 Services Storitve

31 SLOVENIJA Indicators Kazalci GDP real (yoy, in %) realni BDP (v primerjavi s prejânjim letom, v %) Gross fixed capital formation (real, yoy, %) investicije v osnovna sredstva (realno, v primerjavis prejânjim letom, v %) Industrial output (real, yoy, in %) industrijska proizvodnja (realno, v primerjavis prejânjim letom, v %) Consumer prices (yearly average) cene Ïivljenjskih potrebâãin (letno povpreãje) Unemployment rate (yearly average) nezaposlenost (letno povpreãje) Merchandise exports (in EUR mn) izvoz blaga (v mio EUR) Merchandise imports (in EUR mn) uvoz blaga (v % od BDP) 14,599 17,032 18,300 20,000 21,700 15,625 18,153 19,600 21,400 23,200 Current account (in % of GDP) tekoãi raãun (v % od BDP) FDI (inflow, in % of GDP) neposredne tuje naloïbe (neto priliv, v mio EUR) Budget balance (in % of GDP) proraãunsko ravnoteïje (v % od BDP) Gross foreign debt (in % of GDP) bruto zadolïenost v tujini (v % od BDP) Average exchange rate: SIT/EUR povpreãni menjalni teãaj: SIT/EUR EUR EUR EUR 3M Interbank, eop Obrestna mera refinanciranja Total Loans (yoy, in %) totalna posojila (v primerjavi s prejânjim letom, v %) Total Deposits (yoy, in %) totalni depoziti (v primerjavi s prejânjim letom, v %)

32 TURKEY YAPI KREDI YAPI KREDI PLAZA D BLOK TR ISTANBUL TEL. ( ) Structural Indicators Yapisal Gostergeler Area (km2) Yuzolcumu (km2) Population in mn Nufus (milyon) President Cumhurbaskani Prime Minister Basbakan GDP (2006 in EUR bn) GSYIH (2006, miljar EURO) Per capita GDP (2006 in EUR) Kisi basina GSYIH (2006, EURO) Exports in % of GDP Ihracat, GSYIH ye % oran olarak 780, Abdullah Gül Recep Tayyip Erdogan , Gross domestic product by economic sectors (in %) 2006 GSYIH, Iktisadi faaliyet kollarina gore (2006, %) Agriculture and forestry Tarim 10.3 Industry Sanayi 25.4 Construction Insaat 4.4 Services Hizmetler

33 TURKIYE Indicators Makroekonomik senaryo GDP real (yoy, in %) GSYIH, sabit fiyatlarla yillik % degisim Gross fixed capital formation (real, yoy, %) Yatirim, yillik % degisim Industrial output (real, yoy, in %) Sanayi uretimi (sabit fiyatlarla yillik % degisim) Consumer prices (yearly average) Enflasyon (TUFE) yillik ortalama Unemployment (in %) Issizlik (%) Merchandise exports (in EUR mn) Mal Ihracati (milyon EURO) 61,832 73,084 82,011 94, ,454 Merchandise imports (in EUR mn) Mal Ithalati (milyon EURO) 88, , , , ,541 Current account (in % of GDP) Cari Islemler Dengesi (% GSYIH) FDI (inflow, in % of GDP) Dogrudan Yatirimlar (% GSYIH) Budget balance (in % of GDP) Butce Dengesi (% GSYIH) Gross foreign debt (in % of GDP) Brut Dis Borclar (% GSYIH) Average exchange rate: YTL/EUR Doviz kuru: YTL/EURO, ortalama Reference rate (O/N simple), eop MB Borclanma Orani (O/N, basit), donem sonu Total Loans (yoy, in %) Toplam Krediler (yillik % degisim) Total Deposits (yoy, in %) Toplam Mevduat (yillik % degisim)

34 UKRAINE UNICREDIT BANK 14, D. GALITSKOGO ST. UA LUTSK TEL. ( ) Structural Indicators i Area (km2) ( 2) Population in mn. President Prime Minister - GDP (2006 in EUR bn) ( ) Per capita GDP (2006 in EUR) ш ( ) Exports in % of GDP (2006) % (2006.) 603, Victor Yushchenko Victor Yanukovich , Gross domestic product by economic sectors (in %) 2006 ш ( %) 2006 Agriculture and forestry 7.7 Industry 24.9 Construction 4.4 Services

35 Indicators GDP real (yoy, in %) (, %) Gross fixed capital formation (real, yoy, %) (,, %) Industrial output (real, yoy, in %) (,, %) Consumer prices (yearly average) ( ) Unemployment rate (yearly average) ( ) Merchandise exports (in EUR mn) (. ) Merchandise imports (in EUR mn) (. ) Current account (in % of GDP) x ( % ) FDI (inflow, in % of GDP) ( % ) Budget balance (in % of GDP) ( % ) Gross foreign debt (in % of GDP) ш ( % ) Average exchange rate: UAH/EUR : / Interest rate (benchmark, end of period, in %) (,, %) Total Loans (yoy, in %) (, %) Total Deposits (yoy, in %) (, %) ,152 31,020 36,820 41,080 46,755 29,064 35,157 42,820 50,075 57,

36 EUROZONE Structural Indicators Strukturindikatoren Area (km2) Fläche (km2) Population in mn Bevölkerung in Mio. GDP (2006 in EUR bn) BIP (2006 in Mrd. EUR) Per capita GDP (2006 in EUR) BIP pro Kopf (2006 in EUR) Exports in % of GDP Exporte in % des BIP 2,520, ,403 27, Gross domestic product by economic sectors 2006 Bruttoinlandsprodukt nach Wirtschaftssektoren 2006 Agriculture and forestry Land- und Forstwirtschaft 2.0 Industry Industrie 20.3 Construction Bauwirtschaft 6.4 Services Dienstleistungen

37 EUROLAND Indicators Indikatoren GDP real (yoy, in %) Reales BIP (Veränderung zum Vorjahr in %) Gross fixed capital formation (real, yoy, %) Bruttoanlageinvestitionen (real, Veränderung zum Vorjahr in %) Industrial output (real, yoy, in %) Industrieproduktion (real, Veränderung zum Vorjahr in %) Consumer prices (yearly average) Verbraucherpreisentwicklung (Jahresdurchschnitt) Unemployment rate (yearly average) Arbeitslosenquote (Jahresdurchschnitt) Merchandise exports (in EUR mn) Warenexporte (in Mio. Euro) 2,370,936 2,641,620 Merchandise imports (in EUR mn) Warenimporte (in Mio. Euro) 2,283,240 2,581,772 Current account (in % of GDP) Leistungsbilanzsaldo (in % des BIP) FDI (inflow, in % of GDP) Ausländische Direktinvestitionen (Zuflüsse, % des BIP) Budget balance (in % of GDP) Budgetsaldo (in % des BIP) Gross foreign debt (in % of GDP) Bruttoauslandsverschuldung (in % des BIP) Average exchange rate: USD/EUR Wechselkurs (Jahresdurchschnitt): USD/EUR ECB Refi rate (end of period, in %) Refinanzierungstender, Jahresendwert Total Loans (yoy, in %) Kredite gesamt (Veränderung zum Vorjahr in %) Total Deposits (yoy, in %) Einlagen gesamt (Veränderung zum Vorjahr in %)

38 AUSTRIA BANK AUSTRIA CREDITANSTALT AM HOF 2 A-1010 VIENNA TEL. +43 (0) Structural Indicators Strukturindikatoren Area (km2) Fläche (km2) Population in mn Bevölkerung in Mio. President Präsident Prime Minister Bundeskanzler GDP (2006 in EUR bn) BIP (2006 in Mrd. EUR) Per capita GDP (2006 in EUR) BIP pro Kopf (2006 in EUR) Exports in % of GDP Exporte in % des BIP 83, Heinz Fischer Alfred Gusenbauer , Gross domestic product by economic sectors 2006 Bruttoinlandsprodukt nach Wirtschaftssektoren 2006 Agriculture and forestry Land- und Forstwirtschaft 1.7 Industry Industrie 23.0 Construction Bauwirtschaft 7.7 Services Dienstleistungen

39 ÖSTERREICH Indicators Indikatoren GDP real (yoy, in %) Reales BIP (Veränderung zum Vorjahr in %) Gross fixed capital formation (real, yoy, %) Bruttoanlageinvestitionen (real, Veränderung zum Vorjahr in %) Industrial output (real, yoy, in %) Industrieproduktion (real, Veränderung zum Vorjahr in %) Consumer prices (yearly average) Verbraucherpreisentwicklung (Jahresdurchschnitt) Unemployment rate (yearly average) Arbeitslosenquote (Jahresdurchschnitt) Merchandise exports (in EUR mn) Warenexporte (in Mio. Euro) 93, , , , ,734 Merchandise imports (in EUR mn) Warenimporte (in Mio. Euro) 90,374 95,361 99, , ,302 Current account (in % of GDP) Leistungsbilanzsaldo (in % des BIP) FDI (inflow, in % of GDP) Ausländische Direktinvestitionen (Zuflüsse, in % des BIP) Budget balance (in % of GDP) Budgetsaldo (in % des BIP) Gross foreign debt (in % of GDP) Bruttoauslandsverschuldung (in % des BIP) Average exchange rate: USD/EUR Wechselkurs (Jahresdurchschnitt): USD/EUR ECB Refi rate (end of period, in %) Refinanzierungstender, Jahresendwert Total Loans (yoy, in %) Kredite gesamt (Veränderung zum Vorjahr in %) Total Deposits (yoy, in %) Einlagen gesamt (Veränderung zum Vorjahr in %)

40 GERMANY HYPOVEREINSBANK AM TUCHERPARK 12 D MÜNCHEN TEL: (+49 89) Structural Indicators Strukturindikatoren Area (km2) Fläche (km2) Population in mn Bevölkerung in Mio. President Präsident Prime Minister Bundeskanzler GDP (2006 in EUR bn) BIP (2006 in Mrd. EUR) Per capita GDP (2006 in EUR) BIP pro Kopf (2006 in EUR) Exports in % of GDP (2006) Exporte in % des BIP (2006) 357, Horst Köhler Angela Merkel 2,322 28, Gross domestic product by economic sectors 2006 Bruttoinlandsprodukt nach Wirtschaftssektoren 2006 Agriculture and forestry Land- und Forstwirtschaft 1.0 Industry Industrie 26.0 Construction Bauwirtschaft 4.0 Services Dienstleistungen

41 DEUTSCHLAND Indicators Indikatoren GDP real (yoy, in %) Reales BIP (Veränderung zum Vorjahr in %) Gross fixed capital formation (real, yoy, %) Bruttoanlageinvestitionen (real, Veränderung zum Vorjahr in %) Industrial output (real, yoy, in %) Industrieproduktion (real, Veränderung zum Vorjahr in %) Consumer prices (yearly average) Verbraucherpreisentwicklung (Jahresdurchschnitt) Unemployment rate (yearly average) Arbeitslosenquote (Jahresdurchschnitt) Merchandise exports (in EUR mn) Warenexporte (in Mio. Euro) 794, , ,221 1,049,635 1,107,365 Merchandise imports (in EUR mn) Warenimporte (in Mio. Euro) 639, , , , ,106 Current account (in % of GDP) Leistungsbilanzsaldo (in % des BIP) FDI (inflow, in % of GDP) Ausländische Direktinvestitionen (Zuflüsse, in % des BIP) Budget balance (in % of GDP) Budgetsaldo (in % des BIP) Gross foreign debt (in % of GDP) Bruttoauslandsverschuldung (in % des BIP) Average exchange rate: USD/EUR Wechselkurs (Jahresdurchschnitt): USD/EUR ECB Refi rate (end of period, in %) Refinanzierungstender, Jahresendwert Total Loans (yoy, in %) 0.4 Kredite gesamt (Veränderung zum Vorjahr in %) Total Deposits (yoy, in %) 3.5 Einlagen gesamt (Veränderung zum Vorjahr in %)

42 ITALY UNICREDIT GROUP VIA S. PROTASO 3 I MILAN TEL: (+39 02) Structural Indicators Indicatori strutturali Area (km2) Area (km quadrati) Population in mn Popolazione in milioni President Presidente della Repubblica Prime Minister Presidente del Consiglio GDP (2006 in EUR bn) PIL (2006, in mld di euro) Per capita GDP (2006 in EUR) PIL pro capite Exports in % of GDP Esportazioni (in % del PIL) 301, Giorgio Napolitano Romano Prodi 1,477 25, Gross domestic product by economic sectors 2006 PIL per settori produttivi (in %) 2006 Agriculture and forestry Agricoltura 2.4 Industry Industria 20.4 Construction Construzioni 6.1 Services Servizi

43 ITALIA Indicators Scenario macroeconomico GDP real (yoy, in %) PIL reale (var. % a/a) Gross fixed capital formation (real, yoy, %) Investimenti (reali, var. % a/a) Industrial output (real, yoy, in %) Produzione industriale (reale, var. %, a/a) Consumer prices (yearly average) Inflazione, prezzi al consumo (media annua) Unemployment rate (yearly average) Tasso di disoccupazione (media annua) Merchandise exports (in EUR mn) Esportazione di manufatti (mln EUR) Merchandise imports (in EUR mn) Importazioni di manufatti (mln EUR) Current account (in % of GDP) Saldo di parte corrente/pil (%) FDI (inflow, in % of GDP) IDE / PIL (%) Budget balance (in % of GDP) Saldo bilancio pubblico/pil (%) Gross foreign debt (in % of GDP) Debito estero/pil (in %) Average exchange rate: USD/EUR Tasso di cambio medio: USD/EUR ECB Refi rate (end of period, in %) Tasso di interesse (fine periodo, %) Total Loans (yoy, in %) Totale Impieghi (var. %, a/a) Total Deposits (yoy, in %) Totale Depositi (var. %, a/a) , , , , , , , , , ,

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