RaboResearch - Economic Research

Country Report

Costa Rica (Country Report)

Thanks to considerable fiscal stimulus, Costa Rica has weathered the global economic crisis and the decline in US demand for its exports relatively well. As stimulus is not yet withdrawn and prospects for the US economy are improving, economic growth for the next years is expected to reach 4.3% on average

Economic Update Dutch version

Monthly Update The Netherlands

Exports continue to determine the Dutch economic situation. Growth of domestic demand is far from exuberant. In December inflation climbed with the highest average rise since March 2009. During 2010 both collectively agreed (CAO) wages and inflation rose by the same amount, while wage increases ran above inflation, on average. The situation on the Dutch labour market improved again, but weaker groups remain less successful.

Economic Update Dutch version

Economic Update Belgium

The moderate economic recovery of 2010, primarily driven by export growth, will probably continue this year. It remains to be seen to what extent domestic demand will be able to start supporting this recovery. Consumers and producers are rather optimistic, in spite of the political stalemate. However, the government will eventually be forced to start imposing budget cuts, which will suppress domestic demand growth.

Economic Update Dutch version

Economic Update Germany

GDP growth in 2010 was strongest since unification thanks to strong exports and investment. The export outlook has become far less certain. Consumption shows no sign of revival as nominal wage growth remains subdued. Inflationary pressures are building amid sharp rebound in commodity prices, the country’s strong economic conditions and the ultra loose monetary policy stance of the ECB.

Economic Update Dutch version

Economic Update Italy

The sluggish economic recovery seems to have come to a halt in the last quarter of 2010. Export growth kept up well, but this has not been translated into higher industrial production. In all, the Italian economy had a rather weak close to 2010. With government austerity having started in January 2011, the start of this year probably has not been much stronger.

Country Report

Dominican Republic (Country report)

After having avoided dipping into recession in 2009 on the back of countercyclical fiscal and monetary stimulus made possible by an IMF stand-by agreement, the Dominican Republic’s economic recovery outpaced most of its neighbours in 2010. I

Country Report

Chile (Country Report)

Chile remains a country characterized by good macroeconomic policies and high quality institutions. The country was hit by a heavy earthquake in early 2010, but the impact of this event on country risk has been fairly limited.

Country Report

Jordan (Country report)

Jordan was confronted with some spill-over from the Tunisian democratic revolution, there is strong support among the people for the King. The King is relatively modern, but the country ranks low on the “Democracy Index”

Country Report

Nigeria (Country report)

In spite of a growing non-oil economy, Nigeria’s economic development is still very much dependent on developments in the oil sector. Since oil revenues account for 89% of total exports, the economy is extremely vulnerable to oil price shocks

Country Report

Fiji (Country report)

The military coup in 2006 marked a continuation of Fiji’s tumultuous political history. Coup leader Bainimarama has remained in charge since, at the cost of democracy. The coup and subsequent repression has isolated Fiji internationally

Country Report

Brunei (Country report)

The prosperous country of Brunei derives its wealth from an abundance of oil and gas resources. The economy contracted 1.8% yoy in 2009 and is estimated to have grown over 1% in 2010, on the back of higher global commodity prices