The BRICS initially had high economic growth rates and increasing values of exports and imports. In more recent years, the macroeconomic performance of the countries has varied. Brazil, India and South Africa have recently experienced current account deficits whilst China, and Russia have continued to experience current account surpluses. All the countries impose range of trade restrictions. Exports account for approximately a third of the gross domestic product (GDP) of Russia and South Africa, a quarter of the GDP of China and India but less than a fifth of the GDP of Brazil. The table below shows a range of economic data on the BRICS. Economic Growth Rate (96) -3.7 Brazil Russia -3.8 India 7.2 China 6.9 South Africa 1.3 Inflation Rate (%) 9.5 15.4 4.9 1.5 4.6 Unemployment Income Per Rate (9) Head (US$) 6.9 5.8 4.9 4.1 25.5 Selected Economic Data 2015 15,800 23,700 6,300 14,300 13,400
The BRICS initially had high economic growth rates and increasing values of exports and imports. In more recent years, the macroeconomic performance of the countries has varied. Brazil, India and South Africa have recently experienced current account deficits whilst China, and Russia have continued to experience current account surpluses. All the countries impose range of trade restrictions. Exports account for approximately a third of the gross domestic product (GDP) of Russia and South Africa, a quarter of the GDP of China and India but less than a fifth of the GDP of Brazil. The table below shows a range of economic data on the BRICS. Economic Growth Rate (96) -3.7 Brazil Russia -3.8 India 7.2 China 6.9 South Africa 1.3 Inflation Rate (%) 9.5 15.4 4.9 1.5 4.6 Unemployment Income Per Rate (9) Head (US$) 6.9 5.8 4.9 4.1 25.5 Selected Economic Data 2015 15,800 23,700 6,300 14,300 13,400
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 6SCQ: Table 33.15 shows how the average costs of production for semiconductors (the chips In computer...
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