BRICs, MINTs, PIGS

What , I hear you ask, are you talking about?Well these acronyms are used by economists for countries with particular economic characteristics.

BRIC is for Brazil, Russia ,India, and China, all countries who had ‘double digit’ (or close) growth over the last decade and who will grow by more than 1000% gdp by 2050

 

Gross Domestic Product per capita (real)[31]
Rank 2050 Country 2050 2045 2040 2035 2030 2025 2020 2015 2010 2006 Percent increase from 2006 to 2050
1 United States 91,683 83,489 76,044 69,019 62,717 57,446 53,502 50,200 47,014 44,379 106%
2 South Korea 90,294 75,979 63,924 53,449 44,602 36,813 29,868 26,012 21,602 18,161 397%
3 United Kingdom 79,234 73,807 67,391 61,049 55,904 52,220 49,173 45,591 41,543 38,108 107%
4 Russia 78,435 65,708 54,221 43,800 34,368 26,061 19,311 13,971 9,833 6,909 1,037%
5 Canada 76,002 69,531 63,464 57,728 52,663 48,621 45,961 43,449 40,541 38,071 99%
6 France 75,253 68,252 62,136 56,562 52,327 48,429 44,811 41,332 38,380 36,045 108%
7 Germany 68,253 62,658 57,118 51,710 47,263 45,033 43,223 40,589 37,474 34,588 97%
8 Japan 66,846 60,492 55,756 52,345 49,975 46,419 42,385 38,650 36,194 34,021 96%
9 Mexico 63,149 49,393 38,255 29,417 22,694 17,685 13,979 11,176 8,972 7,918 697%
10 Italy 58,545 52,760 48,070 44,948 43,195 41,358 38,990 35,908 32,948 31,123 88%
11 Brazil 49,759 38,149 29,026 21,924 16,694 12,996 10,375 8,427 6,882 5,657 779%
12 China 49,650 39,719 30,951 23,511 17,522 12,688 8,829 5,837 3,463 2,041 2,332%
13 Turkey 45,595 34,971 26,602 20,046 15,188 11,743 9,291 7,460 6,005 5,545 722%
14 Vietnam 33,472 23,932 16,623 11,148 7,245 4,583 2,834 1,707 1,001 655 5,010%
15 Iran 32,676 26,231 20,746 15,979 12,139 9,328 7,345 5,888 4,652 3,768 767%
16 Indonesia 22,395 15,642 10,784 7,365 5,123 3,711 2,813 2,197 1,724 1,508 1,385%
17 India 20,836 14,446 9,802 6,524 4,360 2,979 2,091 1,492 1,061 817 2,450%
18 Pakistan 20,500 14,025 9,443 6,287 4,287 3,080 2,352 1,880 1,531 1,281 1,500%
19 Philippines 20,388 14,260 9,815 6,678 4,635 3,372 2,591 2,075 1,688 1,312 1,453%
20 Nigeria 13,014 8,934 6,117 4,191 2,944 2,161 1,665 1,332 1,087 919 1,316%
21 Egypt 11,786 7,066 5,183 3,775 2,744 2,035 1,568 1,260 897 778 808%
22 Bangladesh 5,235 3,767 2,698 1,917 1,384 1,027 790 627 510 427 1,125%

MINT stands for Mexico, Indonesia, Nigeria and Turkey, also countries who will grow, also around the 1000% mark.

PIGS stands for Portugal, Ireland/Italy/Iceland , Greece/Great Britain and Spain and is used for countries whose economy was troubled in the recent crisis.

But look again! France! We aren’t done for yet! And lots of European countries are in that list. Europe isn’t dead either then.

These figures of course ignore the fact that we don’t know the future.And past predictions of future economic destinies are doomed to failure, as Japan teaches us .

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One thought on “BRICs, MINTs, PIGS

  1. In Italy, I am studying international relations and I did a search about BRIC.
    you can add an ‘s’ to the word BRIC, including the South Africa, which in recent decades has grown very rapidly. European states will be eliminated in the near future unless there is a reversal in the production and economic/ political crisis will not be stopped.
    Crisis are affecting many countries like Italy, which concerns me closely.
    We must avoid that the “new powers” eliminate us from the world scene!

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