The Lastest Macroeconomic News
04.09.2016 16:50 Eurostat: EU is the largest contributor to world GDP
The EU generates almost a quarter of world GDP despite containing just 7 per cent of the world`s population, a new statistical analysis by Eurostat has revealed. In total, the 20 countries that make up the G20 account for a massive 85 per cent of global GDP. In a report comparing the 28-nation bloc to the 15 non-EU countries that form part of the G20, Eurostat noted that the EU average of 1.5 births per woman was the third-lowest among G20 countries. Only Japan (1.4) and South Korea (1.2) have a lower birth rate. The EU`s old-age dependency, measured as the ratio of the number of people aged 65 and over to the working age population, is the second-highest among G20 states, with its 28.1 per cent rate beating Canada, Australia and the United States.
02.09.2016 20:04 Japan`s economic gambit for progress on Russia territorial row
Japan hopes to soften Russia`s stance on a long-standing territorial dispute by presenting an economic partnership proposal, tailored to Moscow`s interests in such fields as energy. The two nations` leaders met Friday in Vladivostok. The Japanese minister of economy, trade and industry, Hiroshige Seko, was also appointed minister for economic cooperation with Russia on Thursday. Seko has played a key role in drafting specific plans under an eight-point economic partnership proposal agreed on at a May summit in Sochi. He attended Friday`s meeting as well. In addition to economic issues, the leaders discussed the extremely important issue of a peace treaty at the meeting. The Japanese government is pursuing a comprehensive economic partnership with Russia and hopes that Moscow acknowledges the importance of the move.
31.08.2016 14:08 Japan versus the United States in per-capita GDP
We often see and hear in the media about the "stagnation" of economic growth in Japan. Let`s look at the numbers and see how Japan has done compared to the United States in the 15 years of the 21st century so far. If we measure by growth in real gross domestic product (GDP), without considering changes in population, Japan`s economic growth is far behind that of the United States. From 2000 to 2015, its real GDP grew an average of 0.72 percent per year, while U.S. real GDP grew an average of 1.77 percent. In average growth rates, more than 1 percent per year is a big difference, indeed, as it compounds over time. Over 15 years, this annual growth rate difference would add up to U.S. GDP being 30 percent larger, compared to 11 percent larger for Japan, a difference of 19 percentage points. However, economic well-being is not measured by aggregate GDP, but by GDP per capita. The question is how much production there is per person. In this case, measuring per-capita growth gives us a very different outcome.
29.08.2016 14:00 New energy for world economy
How can the world`s strongest economies better collaborate to increase growth and address some of today`s mounting challenges? At the G20 summit in Hangzhou next month, hosted by Chinese President Xi Jinping, world leaders will discuss new partnerships and propose solutions to some of the most pressing economic issues. The key issue expected to dominate September`s G20 Summit in Hangzhou, China will be global growth… more specifically, the slowdown in global growth. Stephen Leeb, Research Chairman, Leeb Group, said: "Clearly it`s slow growth. I mean, in a word. Basically, what can harm the world much quicker than anything else is very slow growth and unequal growth, and right now we are subject to both… both international unequal growth in the sense that you have widening inequalities and externally where you have countries that are doing very well or pretty well and some countries that are almost flatlining.” "There`s no way to, in effect, get global growth, get domestic growth - whether you`re talking about China, the U.S., Canada, Japan, Germany, France, Britain - you can`t really get that expansion of real GDP going unless you have a sense of coordinated policy," said Steve Blitz, Chief Economist, M Science.
26.08.2016 09:35 The journey of India`s GDP from 1000 A.D. to 2020
Till about 300 years ago, India accounted for more than a quarter of the world`s GDP. This share began falling following the advent of British power over the subcontinent. In the past few years, though, India`s economy has seen a revival and will continue to do so, a report called “India: The Giant Awakens” by Aberdeen Asset Management says. One of the largest funds in the world, Aberdeen is bullish about India whose economic growth, according to its report, is coming a full circle. “India`s rise may seem unprecedented but it`s actually reclaiming a position it held for centuries. Throughout much of the last 2,000 years, India has been either the largest or the second-largest economy in the world,” Kenneth Akintewe, senior investment manager, fixed income, Aberdeen Asia, writes in the report.
24.08.2016 12:53 India`s forests are worth $1.7 trillion, more than the GDP of Russia or Canada
India has decided to put a financial value on its forests: Rs115 trillion, or an astounding $1.7 trillion. This is lower than India`s GDP, pegged at $2.1 trillion, but higher than the GDPs of countries such as Canada, Korea, Mexico or Russia. The valuation was arrived at by an expert panel that the Indian government set up in 2013. The committee was asked to decide on the net present value (NPV) of forest land in case they had to be diverted for industrial or construction purposes. “The numbers are definitely shocking,” Madhu Verma, a professor at the Indian Institute of Forest Management (IIFM), and one of the two lead authors of the report, said. “The moment you put a value to these forestlands is when people take these concerns (regarding diverting forest land) seriously.”
22.08.2016 11:12 How Conflict With Ukraine Can Hurt Russia`s Economy
Relations between the neighboring states of Russia and Ukraine are swiftly and dramatically growing more acrimonious. On Thursday, Russian President Vladimir Putin accused Ukraine of carrying out armed incursions into Crimea, the territory annexed by Russia from Ukraine in 2014, and warned there will be consequences. Ukraine immediately put its troops on high alert in response. This was followed by Russia announcing that war games exercises will be conducted and further accusing Ukraine of a terrorist plot. This latest downturn in relations between the countries comes at a time when the overall political and economic situation seemed to be improving. Russia released better than expected Q2 GDP figures. The Russian economy has been hit hard in 2015 and 2016 partly because of a downturn in the price of oil, a vital export, but also by a series of economic sanctions against key Russian industries in response to the Crimea incursion.
20.08.2016 13:00 China and India: Twin engines of world economy
Global economic growth has slowed considerably in the past few years and black swan events have only aggravated matters. The US economy grew slower than forecast for the first two quarters of this year, and it is likely to grow at around 1.5% for the whole year. No wonder Chinese and Indian economies are getting the attention they are from the global community. However, some experts are worried that an untoward event might occur in China, hurting its development and, by consequence, the entire world. China is still the main engine driving global economic growth. During the first half of this year, its economy grew at the rate of 6.7%, reaching 34 trillion RMB. Seven hundred and seventeen million new jobs were created in urban areas, retail inflation rose to 2.1% and per capita income rose by 6.5% nationwide. The economic structure continued to improve, with the contribution of the service sector to the economy reaching 59.8%. Transformation of the economic development pattern saw progress.
18.08.2016 13:17 Russian economy may be exiting long recession
Bloomberg economists expect the Russian economy to emerge from its worst recession in two decades. Rising volumes of rail cargo and container transportation, as well as increasing demand for electricity, indicate that the recovery is likely to hold. The country`s gross domestic product in the second quarter of the current year will contract the least since the beginning of 2015, when the economy slipped into recession, according to the experts surveyed by Bloomberg. The GDP will reportedly shrink just 0.8 percent from a year earlier. "A fundamental infrastructure sector such as electricity offers a good reference point for the economic health of a country overall," said Vladimir Sklyar and Anastasia Tikhonova, analysts at Renaissance Capital.
16.08.2016 10:42 Fitch downgrades forecast for Ukraine`s economy growth
Fitch Ratings international rating agency downgrades their forecast for the Ukrainian economy growth in 2016 by 1%. Previously they forecast a 25 growth. This is reported by the agency on their official website. "Fitch expects only a moderate recovery of Ukraine`s economy. We forecast 1% GDP growth in 2016", the statement reads. Indicators of Ukraine`s economic growth in the medium term are also downgraded - to 2%. "We forecast 2% GDP growth over the medium term", Fitch representatives said. Earlier, in May, Fitch`s also downgraded its forecast for Ukraine`s economic growth to 2%, as compared to their earlier forecasts of 3.9%, due to limiting factors - loss incurred in export trade with Russia, war casualties in eastern Ukraine, low prices for key commodity markets and weak financial sector.
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