The Mist Countries

THE THE haze everywhere COUNTRIES Mexico, Indonesia, sulfur Korea & Turkey Are MIST countries becoming the new BRICs? For umpteen investors, Mexico, Indonesia, southbound Korea and Turkey have interpreted over from the BRICS becoming the four biggest emerging markets, and growing faster than their study rivals. BRIC inventor Jim ONeil from Goldman Sachs proposed the new marches MIST term for Mexico, Indonesia, southmost Korea and Turkey, which be the four biggest markets in the Goldman Sachs N-11 Equity Fund. The MIST economies ofttimes than doubled during the last decade, according to Bloomberg, and continue surging despite spheric thrift concerns.Mexicos IPC Index has climbed 11% this year, comparing with a 2. 8% fruit of Brazils Bovespa. Meanwhile Turkeys ISE National coulomb gained 28 percent, compared to 13% gain of BSE India Sensitive Index and 2. 6% gain in Russias MICEX. Though the MIST nations outperformed the BRIC in grounds of harvest-time, its econom ical output still cant approach the BRIC. tally gross internal product for the MIST nations was $3. 9 meg last year, compared to $13. 5 cardinal of BRIC economies and $7. 3 cardinal for chinaware alone. Comment If you go to the Wikipedia page somewhat BRIC you leave behind read that Mexico and South Korea tried to become part of BRIC.It was use the name BRIMC. But it failed because the BRIC were Core-Hubs in their areas (Eurasia, South America, Far eastern United States, South East Asia) while the MIST are a second dependent bottom around the Hub. In fact, and to be precise there are common chord World Hubs-Cores USA, GERMANY (Eurozone) and CHINA. Turkey depends on Europe, Mexico depends on the US, South Korea depends on chinaware. So, if those hubs are hit, the MIST will be hit MUCH MORE, as we remember from the Bhat crisis. Russia could be an Eurasian and Energy Hub-Core. even if still not fully developed, so it is still a layer of the E. U. Hub. Mexico Economy overv iewMexico has a free market economy in the meg dollar class. It contains a mixture of modern and outmoded assiduity and tillage, increasingly dominated by the close sphere of influence. Recent administrations have expanded competition in seaports, railroads, telecommunications, electrical energy generation, natural float distribution, and airports. Per capita income is roughly one-third that of the US income distribution mud amplyly nonequivalent. Since the implementation of the North American Free Trade intellect (NAFTA) in 1994, Mexicos function of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5%.Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan putting more than 90% of trade at a lower place free trade agreements. In 2007, during its first of all year in office, the Felipe CALDERON administration was able to garner support from the opposite word to successfully pass pension and fiscal repossesss. The administration passed an energy reform measure in 2008 and another fiscal reform in 2009. Mexicos gross domestic product plunged 6. 2% in 2009 as world demand for exports dropped, summation prices tumbled, and remittances and enthronisation dec absorbd. gross domestic product posted positive evolution of 5. % in 2010 and 3. 8% in 2011, with exports particularly to the United States leading the way. The administration continues to face many economic challenges, including up(p) the public education ashes, upgrading infrastructure, modernizing labor laws, and fostering private investment funds in the energy sector. CALDERON has stated that his top economic priorities last out reducing scantness and creating jobs. gross domestic product (purchasing power parity) $1. 657 one thousand thousand (2011 est. ) $1. 596 trillion (2010 est. ) $1. 514 trillion (2009 est. ) let downselective information are in 2011 US dollars GDP (official replace count) $1. 185 trillion (2011 est. ) GDP real growth vagabond . 8% (2011 est. ) 5. 4% (2010 est. ) -6. 2% (2009 est. ) GDP per capita (PPP) $15,100 (2011 est. ) $14,400 (2010) $13,600 (2009) notedata are in 2011 US dollars GDP art object by sector agriculture3. 8% industry34. 2% function62% (2011 est. ) Population below poverty line 18. 2% notebased on food-based definition of poverty plus based poverty amounted to more than 47% (2008) repel force 49. 17 million (2011 est. ) ride force by bloodline agriculture13. 7% industry23. 4% services62. 9% (2005) Unemployment range 5. 2% (2011 est. ) 5. 4% (2010 est. ) noteunderemployment may be as high as 25%Unemployment, youth ages 15-24 tote up10% male9. 7% female10. 6% (2009) Household income or manipulation by plowshare share concluding 10%1. 5% highest 10%41. 4% (2008) scattering of family income Gini index 51. 7 (2008) 53. 1 (1998) Public debt 37. 5% of GDP (2011 est. ) 36. 9% of GDP (2 010 est. ) puffiness rate (consumer prices) 3. 5% (2011 est. ) 4. 2% (2010 est. ) primaeval jargon discount rate NA% (31 celestial latitude 2010 est. ) 4. 5% (31 declination 2009 est. ) Commercial camber gush bring rate 5% (31 declination 2011 est. ) 5. 287% (31 celestial latitude 2010 est. ) source of home(prenominal) credit $407. 4 one million million million (31 declination 2011 est. $374. 2 cardinal (31 celestial latitude 2010 est. ) mart value of publicly traded shares $454. 3 jillion (31 declination 2010) $340. 6 one million million (31 declination 2009) $232. 6 gazillion (31 declination 2008) cultivation products corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes beef, poultry, dairy products wood products Industries food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, touristry Industrial product growth rate 3. 9% (2011 est. ) Current pecker Balance -$11. 27 t rillion (2011 est. ) -$5. 724 trillion (2010 est. ) Exports $336. one million million (2011 est. ) $298. 5 trillion (2010 est. ) Exports commodities manufactured goods, fossil inunct and oil products, silver, fruits, vegetables, coffee, cotton Exports partners US 73. 5%, Canada 7. 5% (2009 est. ) Imports $341. 9 billion (2011 est. ) $301. 5 billion (2010 est. ) Imports commodities metalworking machines, steel mill products, agricultural machinery, electrical equipment, car parts for assembly, repair parts for motor vehicles, aircraft, and aircraft parts Imports partners US 60. 6%, China 6. 6%, South Korea 5. 2% (2009 est. ) Reserves of unusual exchange and gold $142 billion (31 December 2011 est. ) 114 billion (31 December 2010 est. ) Debt orthogonal $204 billion (31 December 2011 est. ) $195. 6 billion (31 December 2010 est. ) extraction of claim outside(prenominal) investment at home $321. 5 billion (31 December 2011 est. ) $326. 1 billion (31 December 2010 est. ) S tock of drive alien investment foreign $84. 92 billion (31 December 2011 est. ) $78. 38 billion (31 December 2010 est. ) transfigure grade Mexican pesos (MXN) per US dollar 12. 39 (2011 est. ) 12. 636 (2010 est. ) 13. 514 (2009) 11. 016 (2008) 10. 8 (2007) Fiscal year calendar year Indonesia Economy overview Indonesia, a immense polyglot nation, grew an estimated 6. % and 6. 4% in 2010 and 2011, respectively. The organization do economic advances under the first administration of President YUDHOYONO (2004-09), introducing significant reforms in the pecuniary sector, including valuate and customs reforms, the use of Treasury bills, and capital market development and supervision. During the global pecuniary crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members circuit card growth in 2009. The government has promoted fiscally conservative policies, resulting in a debt-to-GDP ratio of less than 25%, a small accredited cc ount surplus, a fiscal deficit below 2%, and historically low rates of inflation. Fitch and Moodys upgraded Indonesias credit rating to investment grade in December 2011. Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among regions. The government in 2012 faces the ongoing challenge of improving Indonesias insufficient infrastructure to remove impediments to economic growth, labor unrest over wages, and reducing its fuel subsidy program in the face of emanation oil prices.GDP (purchasing power parity) $1. 121 trillion (2011 est. ) $1. 054 trillion (2010 est. ) $993 billion (2009 est. ) notedata are in 2011 US dollars GDP (official exchange rate) $834. 3 billion (2011 est. ) GDP real growth rate 6. 4% (2011 est. ) 6. 1% (2010 est. ) 4. 6% (2009 est. ) GDP per capita (PPP) $4,700 (2011 est. ) $4,400 (2010 est. ) $4,300 (2009 est. ) notedata are in 2011 US dollars GDP composition by sector agriculture14. 7% industry47. 2% services38. 1% (2011 est. ) Population below poverty line 13. 33% (2010) Labor force 117. 4 million (2011 est. )Labor force by occupation agriculture38. 3% industry12. 8% services48. 9% (2010 est. ) Unemployment rate 6. 6% (2011 est. ) 7. 9% (2010 est. ) Unemployment, youth ages 15-24 total22. 2% male21. 6% female23% (2009) Household income or consumption by percentage share lowest 10%3. 3% highest 10%29. 9% (2009) Distribution of family income Gini index 36. 8 (2009) 39. 4 (2005) Public debt 24. 5% of GDP (2011 est. ) 25. 7% of GDP (2010 est. ) lump rate (consumer prices) 5. 7% (2011 est. ) 5. 1% (2010 est. ) Central bank discount rate 6. 37% (31 December 2010) 6. 46% (31 December 2009) otethis work up represents the 3-month SBI rate the Bank of Indonesia has not employed the one-month SBI since September 2010 Commercial bank prime lending rate 12. 2% (31 December 2011 est. ) 13. 252% (31 December 2010 est. ) notethese fi gures represent the average annualized rate on working capital loans Stock of domestic credit $305. 2 billion (31 December 2011 est. ) $254. 1 billion (31 December 2010 est. ) Market value of publicly traded shares $360. 4 billion (31 December 2010) $178. 2 billion (31 December 2009) $98. 76 billion (31 December 2008) Agriculture products ice, cassava (manioc), peanuts, rubber, cocoa, coffee, palm oil, copra poultry, beef, pork, eggs Industries petroleum and natural gas, textiles, apparel, footwear, mining, cement, chemical fertilizers, plywood, rubber, food, tourism Industrial output signal growth rate 4. 1% (2011 est. ) Current Account Balance $5. 704 billion (2011 est. ) $5. 654 billion (2010 est. ) Exports $208. 9 billion (2011 est. ) $158. 1 billion (2010 est. ) Exports commodities oil and gas, electrical appliances, plywood, textiles, rubber Exports partners Japan 16. 3%, China 10%, US 9. 1%, capital of Singapore 8. 7%, South Korea 8%, India 6. %, Malaysia 5. 9% (2009) Imp orts $172. 1 billion (2011 est. ) $127. 4 billion (2010 est. ) Imports commodities machinery and equipment, chemicals, fuels, foodstuffs Imports partners China 15. 1%, Singapore 14. 9%, Japan 12. 5%, US 6. 9%, Malaysia 6. 4%, South Korea 5. 7%, Thailand 5. 5% (2009) Reserves of foreign exchange and gold $136. 2 billion (31 December 2011 est. ) $96. 21 billion (31 December 2010 est. ) Debt outdoor(a) $158. 8 billion (31 December 2011 est. ) $196. 1 billion (31 December 2010 est. ) Stock of purport foreign investment at home $105. 7 billion (31 December 2011 est. ) $86. 5 billion (31 December 2010 est. ) Stock of direct foreign investment abroad $41. 89 billion (31 December 2011 est. ) $32. 85 billion (31 December 2010 est. ) Exchange rates Indonesian rupiah (IDR) per US dollar 8,696. 1 (2011 est. ) 9,090. 43 (2010 est. ) 10,389. 9 (2009) 9,698. 9 (2008) 9,143 (2007) Fiscal year calendar year South Korea Economy overview South Korea over the past four decades has demonstrated dumfounding growth and global integration to become a high-tech alter economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia.In 2004, South Korea joined the trillion dollar club of world economies, and veritablely is among the worlds 20 roundst economies. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the depreciate of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 undefendable longstanding weaknesses in South Koreas development model including high debt/equity ratios and massive short-run foreign borrowing.GDP plunged by 6. 9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted many economic reforms following the crisis, including greater openness to foreign investment and imports. offset m oderated to more or less 4% annually between 2003 and 2007. With the global economic downswing in late 2008, South Korean GDP growth slowed to 0. 3% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3. 6% in 2011. In 2011, theUS-South Korea Free Trade Agreement was sanctioned by both governments and is projected to go into effect in primeval 2012. The South Korean economys long term challenges let in a rapidly aging population, inflexible labor market, and heavy belief on exports which comprise half of GDP. GDP (purchasing power parity) $1. 549 trillion (2011 est. ) $1. 495 trillion (2010 est. ) $1. 409 trillion (2009 est. ) notedata are in 2011 US dollars GDP (official exchange rate) $1. 164 trillion (2011 est. ) GDP real growth rate 3. 6% (2011 est. ) 6. 2% (2010 est. ) 0. 3% (2009 est. ) GDP per capita (PPP) 31,700 (2011 est. ) $30,600 (2010 est. ) $2 8,900 (2009 est. ) notedata are in 2011 US dollars GDP composition by sector agriculture2. 6% industry39. 2% services58. 2% (2008 est. ) Population below poverty line 15% (2006 est. ) Labor force 25. 1 million (2011 est. ) Labor force by occupation agriculture6. 4% industry24. 2% services69. 4% (2011 est. ) Unemployment rate 3. 4% (2011 est. ) 3. 7% (2010 est. ) Unemployment, youth ages 15-24 total9. 8% male11. 9% female8. 5% (2009) Household income or consumption by percentage share lowest 10%2. 7% highest 10%24. 2% (2007)Distribution of family income Gini index 31 (2010) 35. 8 (2000) Public debt 33. 3% of GDP (2011 est. ) 35. 1% of GDP (2010 est. ) Inflation rate (consumer prices) 4% (2011 est. ) 3% (2010 est. ) Central bank discount rate 1. 5% (31 December 2011) 1. 25% (31 December 2009) Commercial bank prime lending rate 5. 9% (31 December 2011 est. ) 5. 508% (31 December 2010 est. ) Stock of domestic credit $1. 356 trillion (31 December 2011 est. ) $1. 275 trillion (31 Decem ber 2010 est. ) Market value of publicly traded shares $996. 7 billion (31 December 2011) $1. 093 trillion (31 December 2010) $836. billion (31 December 2009) Agriculture products rice, start crops, barley, vegetables, fruit cattle, pigs, chickens, milk, eggs fish Industries electronics, telecommunications, automobile issue, chemicals, shipbuilding, steel Industrial production growth rate 3. 8% (2011 est. ) Current Account Balance $29. 79 billion (2011 est. ) $28. 21 billion (2010 est. ) Exports $556. 5 billion (2011 est. ) $466. 4 billion (2010 est. ) Exports commodities semiconductors, wireless telecommunications equipment, motor vehicles, computers, steel, ships, petrochemicals Exports partners China 24. %, US 10. 1%, Japan 7. 1% (2009 est. ) Imports $524. 4 billion (2011 est. ) $425. 2 billion (2010 est. ) Imports commodities machinery, electronics and electronic equipment, oil, steel, stock equipment, natural chemicals, plastics Imports partners China 16. 5%, Japan 13% , US 8. 5%, Saudi-Arabian Arabia 7. 1%, Australia 5% (2009 est. ) Reserves of foreign exchange and gold $306. 4 billion (31 December 2011 est. ) $291. 6 billion (31 December 2010 est. ) Debt external $397. 3 billion (31 December 2011 est. ) $359. 4 billion (31 December 2010 est. ) Stock of direct foreign investment at home 130. 3 billion (31 December 2011 est. ) $127 billion (31 December 2010 est. ) Stock of direct foreign investment abroad $190. 4 billion (31 December 2011) $164. 8 billion (31 December 2009) Exchange rate South Korean won (KRW) per US dollar 1,107. 3 (2011 est. ) 1,156. 06 (2010 est. ) 1,276. 93 (2009) 1,101. 7 (2008) 929. 2 (2007) Fiscal year calendar year Turkey Economy overview Turkeys largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25% of employment.An aggressive privatization program has reduced state involvement in basic industry, banking, transpo rt, and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy and expanding production beyond the traditional textiles and clothing sectors. The automotive, construction, and electronics industries, are rising in vastness and have surpassed textiles indoors Turkeys export mix. Oil began to flow through the Baku-Tbilisi-Ceyhan grape in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market.Several gas pipelines projects also are moving forward to help transport Central Asian gas to Europe through Turkey, which over the long term will help address Turkeys dependence on imported oil and gas to meet 97% of its energy needs. After Turkey see a severe financial crisis in 2001, Ankara adopted financial and fiscal reforms as part of an IMF program. The reforms strengthened the countrys economic fundamentals and ushered in an era of punishing growth averaging more than 6% annually unti l 2008.Global economic conditions and tighter fiscal policy caused GDP to contract in 2009, but Turkeys puff up-regulated financial markets and banking system helped the country weather the global financial crisis and GDP rebounded strongly to 8. 2% in 2010, as exports returned to normal levels following the recession. Turkeys public sector debt to GDP ratio has fallen to roughly 40%. Continued strong growth has pushed inflation to the 8% level, however, and worsened an already high current account deficit. Turkey remains dependent on often volatile, short-term investment to finance its large trade deficit.The stock value of FDI stood at $99 billion at year-end 2011. Inflows have slowed considerably in light of continuing economic turmoil in Europe, the source of much of Turkeys FDI. Further economic and judicial reforms and prospective EU membership are expected to boost Turkeys attractiveness to foreign investors. However, Turkeys relatively high current account deficit, uncerta inty related to monetary policy-making, and political turmoil within Turkeys neighborhood leave the economy vulnerable to destabilizing shifts in investor confidence.GDP (purchasing power parity) $1. 026 trillion (2011 est. ) $981. 2 billion (2010 est. ) $906. 9 billion (2009 est. ) notedata are in 2011 US dollars GDP (official exchange rate) $763. 1 billion (2011 est. ) GDP real growth rate 4. 6% (2011 est. ) 8. 2% (2010 est. ) -4. 7% (2009 est. ) GDP per capita (PPP) $14,600 (2011 est. ) $13,800 (2010 est. ) $12,900 (2009 est. ) notedata are in 2011 US dollars GDP composition by sector agriculture9. 3% industry28. 1% services62. 6% (2011 est. ) Population below poverty line 16. 9% (2010) Labor force 27. 3 million noteabout 1. 2 million Turks work abroad (2011 est. ) Labor force by occupation agriculture25. 5% industry26. 2% services48. 4% (2010) Unemployment rate 9. 8% (2011 est. ) 12% (2010 est. ) noteunderemployment amounted to 4% in 2008 Unemployment, youth ages 15-24 total 25. 3% male25. 4% female25. 1% (2009) Household income or consumption by percentage share lowest 10%2. 1% highest 10%30. 3% (2008) Distribution of family income Gini index 40. 2 (2010) 43. 6 (2003) Public debt 42. 4% of GDP (2011 est. ) 43% of GDP (2010 est. ) otedata cover central government debt, and excludes debt instruments issued (or owned) by government entities other than the exchequer the data include treasury debt held by foreign entities the data exclude debt issued by subnational entities, as well as intra-governmental debt intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical exam care, and unemployment. Debt instruments for the social funds are sold at public auctions. Inflation rate (consumer prices) 7. 8% (2011 est. ) 8. 6% (2010 est. ) Central bank discount rate 5. 25% (31 December 2011) 15% (22 December 2009)Commercial bank prime lending rate 16% (31 December 2011 est. ) 19% (31 December 2010 es t. ) Stock of domestic credit $573. 8 billion (31 December 2011 est. ) $496 billion (31 December 2010 est. ) Market value of publicly traded shares $306. 7 billion (31 December 2010) $225. 7 billion (31 December 2009) $117. 9 billion (31 December 2008) Agriculture products tobacco, cotton, grain, olives, sugar beets, hazelnuts, pulses, citrus fruit livestock Industries textiles, food processing, autos, electronics, mining (coal, chromate, copper, boron), steel, petroleum, construction, lumber, paper Industrial production growth rate 9. 2% (2011 est. Current Account Balance -$71. 94 billion (2011 est. ) -$47. 74 billion (2010 est. ) Exports $133 billion (2011 est. ) $120. 9 billion (2010 est. ) Exports commodities apparel, foodstuffs, textiles, metal manufactures, transport equipment Exports partners Germany 10. 1%, UK 6. 4%, Italy 5. 7%, France 5. 3%, Iraq 5. 3%, Russia 4. 1% (2009 est. ) Imports $212. 2 billion (2011 est. ) $177. 3 billion (2010 est. ) Imports commodities mach inery, chemicals, semi-finished goods, fuels, transport equipment Imports partners Russia 11. 6%, Germany 9. 5%, China 9. 3%, US 6. 6%, Italy 5. 5%, France 4. 4%, Iran 4. 1% (2009 est. )Reserves of foreign exchange and gold $96. 05 billion (31 December 2011 est. ) $86. 08 billion (31 December 2010 est. ) Debt external $313. 6 billion (31 December 2011 est. ) $290. 7 billion (31 December 2010 est. ) Stock of direct foreign investment at home $98. 98 billion (31 December 2011 est. ) $86. 98 billion (31 December 2010 est. ) Stock of direct foreign investment abroad $18. 63 billion (31 December 2011 est. ) $16. 88 billion (31 December 2010 est. ) Exchange rates Turkish liras (TRY) per US dollar 1. 668 (2011 est. ) 1. 5028 (2010 est. ) 1. 55 (2009) 1. 3179 (2008) 1. 319 (2007) Fiscal year calendar year