Dear all,
I'm trying to predict/simulate the effect of CBAM on Swedish imports in the steel sector by using the model in WTO's guide to advanced trade policy analysis (link: https://www.wto.org/english/res_e/pu...uide2016_e.htm) as well as the paper by Anderson, Larch and Yotov (2015) (link: https://onlinelibrary.wiley.com/doi/...111/twec.12664). Somehow, when I'm trying to define my counterfactual scenario, i.e when CBAM is introduced, something happens with my importer and exporter FE. So, after running the ppml for the conditional scenario, there are missing values for almost all importer FE and some exporter FE too. I'm a bit unsure on how to solve this issue given that I don't have so much experience. I would appreciate it very much if someone could give me some input
Here's the stata code that I use:
And here is a snippet from the data set that I use:
I'm trying to predict/simulate the effect of CBAM on Swedish imports in the steel sector by using the model in WTO's guide to advanced trade policy analysis (link: https://www.wto.org/english/res_e/pu...uide2016_e.htm) as well as the paper by Anderson, Larch and Yotov (2015) (link: https://onlinelibrary.wiley.com/doi/...111/twec.12664). Somehow, when I'm trying to define my counterfactual scenario, i.e when CBAM is introduced, something happens with my importer and exporter FE. So, after running the ppml for the conditional scenario, there are missing values for almost all importer FE and some exporter FE too. I'm a bit unsure on how to solve this issue given that I don't have so much experience. I would appreciate it very much if someone could give me some input
Here's the stata code that I use:
Code:
*************************************
*This file contains the GE PPML code*
*************************************
**********
* HEADER *
**********
clear all
set mem 1g
set matsize 8000
cap log close
set more off
pause on
******************
*I. Prepapre Data*
******************
import excel "Finaldata.xlsx", firstrow
rename IM importer
rename EX exporter
rename RegT RTA
*******************************
*1. Create aggregate variables*
*******************************
bysort exporter: egen output=sum(IMPEUR)
bysort importer: egen expndr=sum(IMPEUR)
****************************************
*2. Chose a country for reference group*
****************************************
replace exporter="ZZZ" if exporter=="SWE"
replace importer="ZZZ" if importer=="SWE"
gen expndr_swe0=expndr if importer=="ZZZ"
egen expndr_swe=mean(expndr_swe0)
************************
*3 Create Fixed Effects*
************************
qui tab exporter, gen(exp_fe_)
qui tab importer, gen(imp_fe_)
******************************
*4. Set additional parameters*
******************************
scalar sigma=2.89
**************************
*II. GE Analysis in Stata*
**************************
*****************************
*Step 1: `Baseline' Scenario*
*****************************
***************************************
*Step 1.a: Estimate `Baseline' Gravity*
***************************************
* Define number of countries
qui tab exporter
local NoC=r(r)
* Equation (9)
ppml IMPEUR Distance RTA Tariffs exp_fe_* imp_fe_1-imp_fe_`=`NoC'-1', noconst
* Predict trade in the baseline (bsln)
predict trade_bsln, mu
* Save estimates
scalar DIST_est=_b[Distance]
scalar RTA_est=_b[RTA]
scalar TARIFFS_est=_b[Tariffs]
* Create trade costs
gen t_ij_bsln=exp(_b[Distance]+_b[RTA]+_b[Tariffs])
gen t_ij_ctrf=exp(CBAMPROXY)
replace t_ij_ctrf=t_ij_bsln if exporter==importer
*gen t_ij_ctrf_1=log(t_ij_ctrf)
******************************************
*Step 1.b: Conscrut `Baseline' GE Indexes*
******************************************
forvalues i=1(1)`=`NoC'-1'{
qui replace exp_fe_`i'=exp_fe_`i'*exp(_b[exp_fe_`i'])
qui replace imp_fe_`i'=imp_fe_`i'*exp(_b[imp_fe_`i'])
}
qui replace exp_fe_`NoC'=exp_fe_`NoC'*exp(_b[exp_fe_`NoC'])
qui replace imp_fe_`NoC'=imp_fe_`NoC'*exp(0)
egen all_exp_fes_0=rowtotal(exp_fe_1-exp_fe_`NoC')
egen all_imp_fes_0=rowtotal(imp_fe_1-imp_fe_`NoC')
gen temp=all_exp_fes_0 if exporter==importer
bysort importer: egen all_exp_fes_0_TB=mean(temp)
drop temp
* Equation (7)
gen omr_bsln=output*expndr_swe/(all_exp_fes_0)
* Equation (8)
gen imr_bsln=expndr/(all_imp_fes_0*expndr_swe)
* Calculate real GDP
gen rGDP_bsln_temp=output/(imr_bsln^(1/(1-sigma))) if exporter==importer
bysort exporter: egen rGDP_bsln=sum(rGDP_bsln_temp)
* Calculate share of domestic expenditure
gen acr_bsln=trade_bsln/expndr if exporter==importer
* Calcualte baseline bilateral exports
gen exp_bsln=trade_bsln if exporter!=importer
* Calculate domestic expenditure for each country
gen exp_bsln_acr=trade_bsln if exporter==importer
* Calculate total exports for each country
bysort exporter: egen tot_exp_bsln=sum(exp_bsln)
********************************
*Step 2: `Conditional' Scenario*
********************************
******************************************
*Step 2.a: Estimate `Conditional' Gravity*
******************************************
* Re-Create Fixed Effects
drop exp_fe_* imp_fe_*
qui tab exporter, gen(exp_fe_)
qui tab importer, gen(imp_fe_)
* Equation (11)
ppml trade exp_fe_* imp_fe_1-imp_fe_`=`NoC'-1', iter(300) noconst offset(t_ij_ctrf)
* Predict trade in `Conditional' GE counterfactual (cndl)
predict trade_cndl, mu
**********************************************
*Step 2.b: Construct `Conditional' GE Indexes*
**********************************************
forvalues i=1(1)`=`NoC'-1'{
qui replace exp_fe_`i'=exp_fe_`i'*exp(_b[exp_fe_`i'])
qui replace imp_fe_`i'=imp_fe_`i'*exp(_b[imp_fe_`i'])
}
qui replace exp_fe_`NoC'=exp_fe_`NoC'*exp(_b[exp_fe_`NoC'])
qui replace imp_fe_`NoC'=imp_fe_`NoC'*exp(0)
egen all_exp_fes_1=rowtotal(exp_fe_1-exp_fe_`NoC')
egen all_imp_fes_1=rowtotal(imp_fe_1-imp_fe_`NoC')
* Equation (7)
gen omr_cndl=output*expndr_swe/(all_exp_fes_1)
* Equation (8)
gen imr_cndl=expndr/(all_imp_fes_1*expndr_swe)
* Calcualte baseline bilateral exports
gen exp_cndl=trade_cndl if exporter!=importer
* Calculate total exports for each country
bysort exporter: egen tot_exp_cndl=sum(exp_cndl)
* Calculate change in total exports for each country
gen tot_exp_cndl_ch=(tot_exp_cndl-tot_exp_bsln)/tot_exp_bsln*100
* Calculate real GDP
gen rGDP_cndl_temp=output/(imr_cndl^(1/(1-sigma))) if exporter==importer
bysort exporter: egen rGDP_cndl=sum(rGDP_cndl_temp)
***********************************
*Step 3: `Full Endowment' Scenario*
***********************************
*********************************************
*Step 3.a: Estimate `Full Endowment' Gravity*
*********************************************
* Define variables for loop
local i=3
local diff_all_exp_fes_sd=1
local diff_all_exp_fes_max=1
gen double trade_1_pred=trade_cndl
gen double output_bsln=output
gen double expndr_bsln=expndr
gen double phi=expndr/output if exporter==importer
gen double temp=all_exp_fes_0 if exporter==importer
bysort importer: egen double all_exp_fes_0_imp=mean(temp)
drop temp*
gen double expndr_temp_1=phi*output if exporter==importer
bysort importer: egen double expndr_1=mean(expndr_temp_1)
drop *temp*
gen double expndr_swe01_1=expndr_1 if importer=="ZZZ"
egen double expndr_swe1_1=mean(expndr_swe01_1)
egen double expndr_swe_1=mean(expndr_swe01_1)
gen double temp=all_exp_fes_1 if exporter==importer
bysort importer: egen double all_exp_fes_1_imp=mean(temp)
drop *temp*
gen double p_full_exp_0=0
gen double p_full_exp_1=(all_exp_fes_1/all_exp_fes_0)^(1/(1-sigma))
gen double p_full_imp_1=(all_exp_fes_1_imp/all_exp_fes_0_imp)^(1/(1-sigma))
gen double imr_full_1=expndr_1/(all_imp_fes_1*expndr_swe_1)
gen double imr_full_ch_1=1
gen double omr_full_1=output*expndr_swe_1/(all_exp_fes_1)
gen double omr_full_ch_1=1
* Start loop with convergence criteria that the mean and the standard devition of the difference in each of the factory-gate prices between two subsequent iterations is smaller than the pre-defined tolerance criterium of 0.001
while (`diff_all_exp_fes_sd'>0.001) | (`diff_all_exp_fes_max'>0.001) {
* Equation (14)
gen double trade_`=`i'-1'=trade_`=`i'-2'_pred*p_full_exp_`=`i'-2'*p_full_imp_`=`i'-2'/(omr_full_ch_`=`i'-2'*imr_full_ch_`=`i'-2')
drop exp_fe_* imp_fe_*
qui tab exporter, gen (exp_fe_)
qui tab importer, gen (imp_fe_)
* Equation (11)
capture glm trade_`=`i'-1' exp_fe_* imp_fe_*, family(poisson) offset(t_ij_ctrf_1) noconst irls iter(30)
* Predict trade flows
predict trade_`=`i'-1'_pred, mu
forvalues j=1(1)`NoC'{
qui replace exp_fe_`j'=exp_fe_`j'*exp(_b[exp_fe_`j'])
qui replace imp_fe_`j'=imp_fe_`j'*exp(_b[imp_fe_`j'])
}
egen double all_exp_fes_`=`i'-1'=rowtotal(exp_fe_1-exp_fe_`NoC')
egen double all_imp_fes_`=`i'-1'=rowtotal(imp_fe_1-imp_fe_`NoC')
* Update output
bysort exporter: egen double output_`=`i'-1'=total(trade_`=`i'-1'_pred)
* Update expenditure
bysort importer: egen double expndr_check_`=`i'-1'=total(trade_`=`i'-1'_pred)
gen double expndr_swe0_`=`i'-1'=expndr_check_`=`i'-1' if importer=="ZZZ"
egen double expndr_swe_`=`i'-1'=mean(expndr_swe0_`=`i'-1')
gen double temp=all_exp_swe_`=`i'-1' if exporter==importer
bysort importer: egen double all_exp_fes_`=`i'-1'_imp=mean(temp)
drop temp*
* Update factory-gate prices
gen double p_full_exp_`=`i'-1'=((all_exp_fes_`=`i'-1'/all_exp_fes_`=`i'-2')/(expndr_swe_`=`i'-1'/expndr_swe_`=`i'-2'))^(1/(1-sigma))
gen double p_full_imp_`=`i'-1'=((all_exp_fes_`=`i'-1'_imp/all_exp_fes_`=`i'-2'_imp)/(expndr_swe_`=`i'-1'/expndr_swe_`=`i'-2'))^(1/(1-sigma))
* Equation (7)
gen double omr_full_`=`i'-1'=output_`=`i'-1'/all_exp_fes_`=`i'-1'
gen double omr_full_ch_`=`i'-1'=omr_full_`=`i'-1'/omr_full_`=`i'-2'
* Update expenditure
gen double expndr_temp_`=`i'-1'=phi*output_`=`i'-1' if exporter==importer
bysort importer: egen double expndr_`=`i'-1'=mean(expndr_temp_`=`i'-1')
* Equation (8)
gen double imr_full_`=`i'-1'=expndr_`=`i'-1'/(all_imp_fes_`=`i'-1'*expndr_swe_`=`i'-1')
gen double imr_full_ch_`=`i'-1'=imr_full_`=`i'-1'/imr_full_`=`i'-2'
* Convergence criteria in terms of changes in factory-gate prices
gen double diff_p_full_exp_`=`i'-1'=p_full_exp_`=`i'-2'-p_full_exp_`=`i'-3'
sum diff_p_full_exp_`=`i'-1'
local diff_all_exp_fes_sd=r(sd)
local diff_all_exp_fes_max=abs(r(max))
local i=`i'+1
}
Code:
IM EX IMPUSD IMPEUR GDPUSD GDPEUR Distance CarbonINTMILLIONUSD CarbonINTUSD CarbonINTEUR RegT Tariffs EUAPRICECOMMISSION EUAPRICEOTHERCOUNTRY CBAMPROXY AUT ARG 13183.391 11669.938 6.436e+11 5.697e+11 11751.15 582.429 5.824e+08 5.156e+08 0 2.0120968 0 2650739.9 AUT AUS 806671.31 714065.44 1.327e+12 1.175e+12 15608.42 927.179 9.272e+08 8.207e+08 0 2.0120968 0 68963.331 AUT BEL 95243769 84309785 5.028e+11 4.450e+11 858.1682 0 0 0 1 0 0 0 AUT BGR 17285143 15300809 5.931e+10 5.250e+10 963.8865 0 0 0 1 0 0 0 AUT BRA 4397940.4 3893056.9 2.064e+12 1.827e+12 9478.487 1417.309 1.417e+09 1.255e+09 0 2.0120968 0 19335.992 AUT CAN 5683752.5 5031257.7 1.649e+12 1.460e+12 7070.077 801.577 8.016e+08 7.096e+08 1 0 0 8461.7725 AUT CHE 2.970e+08 2.629e+08 6.952e+11 6.154e+11 576.4147 250.043 2.500e+08 2.213e+08 1 0 0 50.516498 AUT CHL 509647.49 451139.96 2.762e+11 2.445e+11 12434.32 440.876 4.409e+08 3.903e+08 1 0 0 51903.64 AUT CHN 2.963e+08 2.623e+08 1.231e+13 1.090e+13 7929.167 1635.475 1.635e+09 1.448e+09 0 2.0120968 0 331.16805 AUT COL 4328.588 3831.6661 3.119e+11 2.761e+11 9534.363 541.443 5.414e+08 4.793e+08 1 0 0 7505121.8 AUT CYP 1013970.4 897566.57 2.287e+10 2.025e+10 2079.312 0 0 0 1 0 0 0 AUT CZE 4.353e+08 3.853e+08 2.186e+11 1.935e+11 276.3035 0 0 0 1 0 0 0 AUT DEU 3.843e+09 3.402e+09 3.691e+12 3.267e+12 592.3266 0 0 0 1 0 0 0 AUT DNK 33861761 29974431 3.321e+11 2.940e+11 926.4196 0 0 0 1 0 0 0 AUT ESP 1.069e+08 94669218 1.313e+12 1.162e+12 1703.055 0 0 0 1 0 0 0 AUT EST 166705.42 147567.63 2.692e+10 2.383e+10 1421.984 0 0 0 1 0 0 0 AUT FIN 30888519 27342517 2.556e+11 2.263e+11 1601.832 0 0 0 1 0 0 0 AUT FRA 1.946e+08 1.723e+08 2.595e+12 2.297e+12 975.7691 0 0 0 1 0 0 0 AUT GBR 59166167 52373891 2.680e+12 2.372e+12 1290.561 481.52 4.815e+08 4.262e+08 1 0 0 0 AUT GRC 4358938 3858531.9 1.998e+11 1.769e+11 1266.512 0 0 0 1 0 0 0 AUT HKG 1166572 1032649.5 3.413e+11 3.021e+11 8822.784 929.404 9.294e+08 8.227e+08 0 2.0120968 0 47801.798 AUT HRV 55445063 49079970 5.606e+10 4.963e+10 342.4475 0 0 0 1 0 0 0 AUT HUN 4.076e+08 3.608e+08 1.431e+11 1.267e+11 324.8455 0 0 0 1 0 0 0 AUT IDN 578153.92 511781.85 1.016e+12 8.990e+11 10653.67 998.492 9.985e+08 8.839e+08 0 2.0120968 0 103622.09 AUT IND 31467541 27855067 2.651e+12 2.347e+12 6155.084 2533.529 2.534e+09 2.243e+09 0 2.0120968 0 4830.7474 AUT IRL 6255175.8 5537081.6 3.372e+11 2.985e+11 1663.347 0 0 0 1 0 0 0 AUT ISL 596025.02 527601.35 2.473e+10 2.189e+10 2852.089 262.662 2.627e+08 2.325e+08 1 0 0 26441.373 AUT ISR 3900782.9 3452973.1 3.582e+11 3.171e+11 2428.686 298.425 2.984e+08 2.642e+08 1 0 0 4590.2323 AUT ITA 1.065e+09 9.430e+08 1.962e+12 1.737e+12 700.9222 0 0 0 1 0 0 0 AUT JPN 63413865 56133953 4.931e+12 4.365e+12 9110.66 943.661 9.437e+08 8.353e+08 0 2.0120968 0 892.85931 AUT KAZ 957847.79 847886.86 1.668e+11 1.477e+11 4113.832 2023.635 2.024e+09 1.791e+09 0 2.0120968 0 126761.37 AUT KOR 58203852 51522050 1.623e+12 1.437e+12 8469.964 1371.471 1.371e+09 1.214e+09 1 0 18.138888 986.38319 AUT LTU 5682151.1 5029840.2 4.776e+10 4.228e+10 1013.096 0 0 0 1 0 0 0 AUT LUX 65091884 57619335 6.571e+10 5.817e+10 701.9164 0 0 0 1 0 0 0 AUT LVA 568866.6 503560.72 3.048e+10 2.698e+10 1168.929 0 0 0 1 0 0 0 AUT MAR 653126.7 578147.75 1.185e+11 1.049e+11 2436.9 626.293 6.263e+08 5.544e+08 1 0 0 57534.901 AUT MEX 3786192.2 3351537.4 1.191e+12 1.054e+12 10003.11 814.434 8.144e+08 7.209e+08 1 0 0 12906.381 AUT MLT 237696.29 210408.76 1.348e+10 1.194e+10 1348.675 0 0 0 1 0 0 0 AUT MMR 1566.332 1386.5171 6.606e+10 5.847e+10 7868.792 0 0 0 0 2.0120968 0 0 AUT MYS 6865977.6 6077763.4 3.191e+11 2.825e+11 9626.781 1186.657 1.187e+09 1.050e+09 0 2.0120968 0 10369.888 AUT NLD 2.388e+08 2.114e+08 8.339e+11 7.381e+11 864.5513 0 0 0 1 0 0 0 AUT NOR 23627715 20915254 4.017e+11 3.556e+11 1459.53 579.509 5.795e+08 5.130e+08 1 0 0 1471.5998 AUT NZL 55179.618 48844.998 2.066e+11 1.828e+11 18097.68 982.376 9.824e+08 8.696e+08 0 2.0120968 13.457211 828612.46 AUT PER 387161.89 342715.7 2.110e+11 1.868e+11 11075.18 421.102 4.211e+08 3.728e+08 1 0 0 65259.832 AUT PHL 660197.21 584406.57 3.285e+11 2.908e+11 10105.73 614.462 6.145e+08 5.439e+08 0 2.0120968 0 55843.495 AUT POL 3.021e+08 2.675e+08 5.246e+11 4.644e+11 548.7492 0 0 0 1 0 0 0 AUT PRT 5418392.9 4796361.4 2.214e+11 1.959e+11 2194.591 0 0 0 1 0 0 0 AUT ROU 52180366 46190060 2.101e+11 1.860e+11 840.0266 0 0 0 1 0 0 0 AUT RUS 43746266 38724195 1.574e+12 1.393e+12 2527.123 3242.684 3.243e+09 2.870e+09 0 2.0120968 0 4447.4891 AUT SAU 4067358.5 3600425.7 7.150e+11 6.329e+11 3675.854 842.643 8.426e+08 7.459e+08 0 2.0120968 0 12430.323 AUT SGP 2011986 1781010 3.433e+11 3.039e+11 9808.072 642.776 6.428e+08 5.690e+08 0 2.0120968 0 19168.403 AUT SVK 5.591e+08 4.949e+08 9.565e+10 8.467e+10 294.7693 0 0 0 1 0 0 0 AUT SVN 1.638e+08 1.450e+08 4.859e+10 4.301e+10 240.5156 0 0 0 1 0 0 0 AUT SWE 1.267e+08 1.122e+08 5.410e+11 4.789e+11 1228.473 0 0 0 1 0 0 0 AUT THA 5731769 5073761.9 4.564e+11 4.040e+11 8546.019 1205.959 1.206e+09 1.068e+09 0 2.0120968 0 12623.946 AUT TUR 54810786 48518508 8.590e+11 7.604e+11 1640.477 978.385 9.784e+08 8.661e+08 1 0 0 1071.0136 AUT USA 1.606e+08 1.422e+08 1.948e+13 1.724e+13 8124.255 660.082 6.601e+08 5.843e+08 0 2.0120968 0 246.60175 AUT VNM 9401885.5 8322549 2.814e+11 2.491e+11 8966.116 1308.772 1.309e+09 1.159e+09 0 2.0120968 0 8352.1885 AUT ZAF 32987000 29200093 3.814e+11 3.377e+11 8653.429 7851.549 7.852e+09 6.950e+09 1 0 0 14281.169 BEL ARG 480505.14 425343.15 6.436e+11 5.697e+11 11305.29 721.365 7.214e+08 6.386e+08 0 2.0120968 0 90075.831 BEL AUS 5582664.8 4941774.9 1.327e+12 1.175e+12 16319.19 1017.461 1.017e+09 9.007e+08 0 2.0120968 0 10935.219 BEL AUT 1.526e+08 1.351e+08 4.173e+11 3.694e+11 858.1682 0 0 0 1 0 0 0 BEL BGR 14965230 13247221 5.931e+10 5.250e+10 1804.253 0 0 0 1 0 0 0 BEL BRA 1.203e+08 1.065e+08 2.064e+12 1.827e+12 9067.367 1499.97 1.500e+09 1.328e+09 0 2.0120968 0 747.89365 BEL CAN 4022800.9 3560983.3 1.649e+12 1.460e+12 6267.681 747.66 7.477e+08 6.618e+08 1 0 0 11151.335 BEL CHE 33666384 29801483 6.952e+11 6.154e+11 503.0689 225.461 2.255e+08 1.996e+08 1 0 0 401.81506 BEL CHL 24022.015 21264.288 2.762e+11 2.445e+11 11906.18 445.06 4.451e+08 3.940e+08 1 0 0 1111630.3 BEL CHN 4.136e+08 3.662e+08 1.231e+13 1.090e+13 8370.61 1655.427 1.655e+09 1.465e+09 0 2.0120968 0 240.12216 BEL COL 231210.34 204667.4 3.119e+11 2.761e+11 8749.023 1147.004 1.147e+09 1.015e+09 1 0 0 297652.08 BEL CYP 6226342.2 5511558.1 2.287e+10 2.025e+10 2917.81 0 0 0 1 0 0 0 BEL CZE 1.768e+08 1.565e+08 2.186e+11 1.935e+11 802.9895 0 0 0 1 0 0 0 BEL DEU 3.024e+09 2.677e+09 3.691e+12 3.267e+12 423.3463 0 0 0 1 0 0 0 BEL DNK 42748931 37841354 3.321e+11 2.940e+11 726.7531 0 0 0 1 0 0 0 BEL ESP 2.432e+08 2.153e+08 1.313e+12 1.162e+12 1356.567 0 0 0 1 0 0 0 BEL EST 8508485.3 7531711.1 2.692e+10 2.383e+10 1627.93 0 0 0 1 0 0 0 BEL FIN 38865400 34403652 2.556e+11 2.263e+11 1706.886 0 0 0 1 0 0 0 BEL FRA 2.613e+09 2.313e+09 2.595e+12 2.297e+12 526.3351 0 0 0 1 0 0 0 BEL GBR 4.142e+08 3.667e+08 2.680e+12 2.372e+12 448.2817 457.988 4.580e+08 4.054e+08 1 0 0 0 BEL GRC 36715090 32500198 1.998e+11 1.769e+11 2050.843 0 0 0 1 0 0 0 BEL HKG 761293.49 673896.99 3.413e+11 3.021e+11 9396.216 927.522 9.275e+08 8.210e+08 0 2.0120968 0 73101.006 BEL HRV 13587980 12028080 5.606e+10 4.963e+10 1084.763 0 0 0 1 0 0 0 BEL HUN 23309517 20633585 1.431e+11 1.267e+11 1155.343 0 0 0 1 0 0 0 BEL IDN 7088948.9 6275137.6 1.016e+12 8.990e+11 11419.33 924.051 9.241e+08 8.180e+08 0 2.0120968 0 7821.0551 BEL IND 2.582e+08 2.286e+08 2.651e+12 2.347e+12 6947.939 3446.44 3.446e+09 3.051e+09 0 2.0120968 0 800.90688 BEL IRL 2500957.2 2213847.4 3.372e+11 2.985e+11 811.519 0 0 0 1 0 0 0 BEL ISL 4333.104 3835.6637 2.473e+10 2.189e+10 2120.492 0 0 0 1 0 0 0 BEL ISR 1637630.2 1449630.3 3.582e+11 3.171e+11 3261.41 532.239 5.322e+08 4.711e+08 1 0 0 19500.336 BEL ITA 4.651e+08 4.117e+08 1.962e+12 1.737e+12 1087.702 0 0 0 1 0 0 0 BEL JPN 33094235 29295017 4.931e+12 4.365e+12 9371.254 766.036 7.660e+08 6.781e+08 0 2.0120968 0 1388.8268 BEL KAZ 60798.741 53819.046 1.668e+11 1.477e+11 4707.932 2012.632 2.013e+09 1.782e+09 0 2.0120968 0 1986191.1 BEL KOR 1.202e+08 1.064e+08 1.623e+12 1.437e+12 8817.223 1440.289 1.440e+09 1.275e+09 1 0 18.138888 501.72285 BEL LTU 27672090 24495334 4.776e+10 4.228e+10 1391.277 0 0 0 1 0 0 0 BEL LUX 2.555e+08 2.262e+08 6.571e+10 5.817e+10 191.5976 0 0 0 1 0 0 0 BEL LVA 9402836.3 8323390.7 3.048e+10 2.698e+10 1460.137 0 0 0 1 0 0 0 BEL MAR 1730031 1531423.5 1.185e+11 1.049e+11 2131.821 633.715 6.337e+08 5.610e+08 1 0 0 21978.161 BEL MEX 8969003.6 7939362 1.191e+12 1.054e+12 9163.235 837.67 8.377e+08 7.415e+08 1 0 0 5603.7663 BEL MLT 1114676.8 986711.93 1.348e+10 1.194e+10 1854.416 0 0 0 1 0 0 0 BEL MMR 23.464 20.770333 6.606e+10 5.847e+10 8591.583 0 0 0 0 2.0120968 0 0 BEL MYS 7261245.3 6427654.3 3.191e+11 2.825e+11 10376.13 1176.207 1.176e+09 1.041e+09 0 2.0120968 0 9719.052 BEL NLD 2.367e+09 2.095e+09 8.339e+11 7.381e+11 160.9283 0 0 0 1 0 0 0 BEL NOR 12024221 10643841 4.017e+11 3.556e+11 1128.785 446.233 4.462e+08 3.950e+08 1 0 0 2226.6706 BEL NZL 169557.38 150092.19 2.066e+11 1.828e+11 18525.59 547.313 5.473e+08 4.845e+08 0 2.0120968 13.457211 150235.13 BEL PER 80828.173 71549.099 2.110e+11 1.868e+11 10358.85 401.824 4.018e+08 3.557e+08 1 0 0 298280.16 BEL PHL 144140.98 127593.6 3.285e+11 2.908e+11 10677.6 730.613 7.306e+08 6.467e+08 0 2.0120968 0 304124.33 BEL POL 2.229e+08 1.973e+08 5.246e+11 4.644e+11 1059.743 0 0 0 1 0 0 0 BEL PRT 27266865 24136629 2.214e+11 1.959e+11 1683.548 0 0 0 1 0 0 0 BEL ROU 27689627 24510857 2.101e+11 1.860e+11 1676.299 0 0 0 1 0 0 0 BEL RUS 9.844e+08 8.714e+08 1.574e+12 1.393e+12 3010.804 3425.337 3.425e+09 3.032e+09 0 2.0120968 0 208.78087 BEL SAU 1058264.4 936775.68 7.150e+11 6.329e+11 4508.039 826.43 8.264e+08 7.316e+08 0 2.0120968 0 46855.775 BEL SGP 349354.25 309248.38 3.433e+11 3.039e+11 10570.75 698.272 6.983e+08 6.181e+08 0 2.0120968 0 119925.03 BEL SVK 55132678 48803447 9.565e+10 8.467e+10 1083.666 0 0 0 1 0 0 0 BEL SVN 7717446.4 6831483.6 4.859e+10 4.301e+10 932.7242 0 0 0 1 0 0 0 BEL SWE 1.781e+08 1.577e+08 5.410e+11 4.789e+11 1151.5 0 0 0 1 0 0 0 BEL THA 14980160 13260437 4.564e+11 4.040e+11 9266.812 1169.285 1.169e+09 1.035e+09 0 2.0120968 0 4683.3346 BEL TUR 1.576e+08 1.395e+08 8.590e+11 7.604e+11 2485.44 997.752 9.978e+08 8.832e+08 1 0 0 379.90325 BEL USA 1.291e+08 1.143e+08 1.948e+13 1.724e+13 7302.655 591.315 5.913e+08 5.234e+08 0 2.0120968 0 274.76815 BEL VNM 40796892 36113409 2.814e+11 2.491e+11 9644.942 1422.679 1.423e+09 1.259e+09 0 2.0120968 0 2092.3344 BEL ZAF 2.327e+08 2.060e+08 3.814e+11 3.377e+11 9169.502 7815.464 7.815e+09 6.918e+09 1 0 0 2014.9621 BGR ARG 7841.615 6941.3976 6.436e+11 5.697e+11 12115.57 592.463 5.925e+08 5.244e+08 0 2.0120968 0 4533221.8 BGR AUS 1355758.8 1200117.7 1.327e+12 1.175e+12 14823.57 679.029 6.790e+08 6.011e+08 0 2.0120968 0 30050.876 BGR AUT 52413973 46396849 4.173e+11 3.694e+11 963.8865 0 0 0 1 0 0 0 BGR BEL 7987053 7070139.3 5.028e+11 4.450e+11 1804.253 0 0 0 1 0 0 0 BGR BRA 103532.34 91646.824 2.064e+12 1.827e+12 9841.712 1274.008 1.274e+09 1.128e+09 0 2.0120968 0 738324.69 BGR CAN 227098.5 201027.6 1.649e+12 1.460e+12 7993.969 837.544 8.375e+08 7.414e+08 1 0 0 221281.25 BGR CHE 5133393 4544079.5 6.952e+11 6.154e+11 1437.967 241.519 2.415e+08 2.138e+08 1 0 0 2822.9165 BGR CHL 0 0 2.762e+11 2.445e+11 12889.11 0 0 0 1 0 0 0 BGR CHN 63937623 56597584 1.231e+13 1.090e+13 7576.192 2000.038 2.000e+09 1.770e+09 0 2.0120968 0 1876.8649 BGR COL 24636.067 21807.847 3.119e+11 2.761e+11 10362.73 1240.243 1.240e+09 1.098e+09 1 0 0 3020554.4 BGR CYP 105131.78 93062.652 2.287e+10 2.025e+10 1133.874 0 0 0 1 0 0 0 BGR CZE 34009683 30105371 2.186e+11 1.935e+11 1083.522 0 0 0 1 0 0 0 BGR DEU 1.695e+08 1.501e+08 3.691e+12 3.267e+12 1503.343 0 0 0 1 0 0 0 BGR DNK 890055.65 787877.26 3.321e+11 2.940e+11 1752.491 0 0 0 1 0 0 0 BGR ESP 15794910 13981655 1.313e+12 1.162e+12 2341.077 0 0 0 1 0 0 0 BGR EST 948514.9 839625.39 2.692e+10 2.383e+10 1827.221 0 0 0 1 0 0 0 BGR FIN 11480456 10162500 2.556e+11 2.263e+11 2057.264 0 0 0 1 0 0 0 BGR FRA 19195599 16991944 2.595e+12 2.297e+12 1802.135 0 0 0 1 0 0 0 BGR GBR 7571855.8 6702606.7 2.680e+12 2.372e+12 2237.415 510.417 5.104e+08 4.518e+08 1 0 0 0 BGR GRC 1.066e+08 94387375 1.998e+11 1.769e+11 526.368 0 0 0 1 0 0 0 BGR HKG 352776.63 312277.88 3.413e+11 3.021e+11 8289.832 924.001 9.240e+08 8.179e+08 0 2.0120968 0 157153.44 BGR HRV 1642622.2 1454049.1 5.606e+10 4.963e+10 760.0293 0 0 0 1 0 0 0 BGR HUN 12653382 11200773 1.431e+11 1.267e+11 693.2965 0 0 0 1 0 0 0 BGR IDN 782674.82 692823.75 1.016e+12 8.990e+11 9850.985 1008.167 1.008e+09 8.924e+08 0 2.0120968 0 77286.274 BGR IND 15882846 14059495 2.651e+12 2.347e+12 5337.229 3521.665 3.522e+09 3.117e+09 0 2.0120968 0 13303.655 BGR IRL 48995.052 43370.42 3.372e+11 2.985e+11 2612.338 0 0 0 1 0 0 0 BGR ISL 0 0 2.473e+10 2.189e+10 3761.956 0 0 0 1 0 0 0 BGR ISR 109642.62 97055.645 3.582e+11 3.171e+11 1487.06 454.37 4.544e+08 4.022e+08 1 0 0 248646.02 BGR ITA 1.298e+08 1.149e+08 1.962e+12 1.737e+12 1098.445 0 0 0 1 0 0 0 BGR JPN 2438322.2 2158402.8 4.931e+12 4.365e+12 8951.169 945.688 9.457e+08 8.371e+08 0 2.0120968 0 23270.625 BGR KAZ 576.725 510.51697 1.668e+11 1.477e+11 3661.252 0 0 0 0 2.0120968 0 0 BGR KOR 1770835.7 1567543.7 1.623e+12 1.437e+12 8221.763 1492.759 1.493e+09 1.321e+09 1 0 18.138888 35287.606 BGR LTU 919660.7 814083.65 4.776e+10 4.228e+10 1395.111 0 0 0 1 0 0 0 BGR LUX 17844317 15795789 6.571e+10 5.817e+10 1638.013 0 0 0 1 0 0 0 BGR LVA 427884.56 378763.41 3.048e+10 2.698e+10 1574.555 0 0 0 1 0 0 0
