I guess this has been obvious for awhile, but when you step back these are still seriously impressive numbers (ft.com)
This growth is being fuelled by both international and domestic demand. Bric economies helped to push up the share of global exports from emerging markets from 20 per cent in 1970 to 42 per cent in 2006, according to Professional Wealth Management. At the same time, capital flows into the Brics and emerging markets have reached record levels, with the Institute of International Finance reporting that foreign direct investment jumped by more than 50 per cent from $167.4bn in 2006 to $255.6bn in 2007.In fact, since Brics first featured in the wealth management lexicon, investment inflows have been fuelling their equity markets. Between November 2001 and 2007, Brazil’s stock market rose 369 per cent, India’s by 499 per cent, Russia’s by 630 per cent and China’s by 201 per cent if you use the A-share market, or 817 per cent based on the Hang Seng China Enterprises Index.
Given these robust equity markets, it is not surprising that the Bric countries accounted for 39 per cent of global initial public offering volume last year, up from 32 per cent in 2006.
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