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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
In Q2 2019, China’s economy slowed down, growing by 6.2% y/y, a record low in 27 years. However, total retail sales of consumer goods rose by 8.6% y/y in Q2 2019 to RMB 9,742bn, driven by growing incomes, higher spending and the ...
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The Philippines insurance sector is one of the least developed in the ASEAN region, with insurance penetration and density significantly lower than those in some other large ASEAN countries including Indonesia and Thailand. However, incomes in the ...
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The steel sector contributed about 2% of the Indian economy’s total GVA in FY2018, employing 500,000 people directly and 2.5mn people indirectly. Indian crude steel production is the second-largest in the world and the domestic steel market is ...
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The extraction of oil and gas is one of Argentina’s main economic sectors, accounting for 2.3% of GDP and 2.1% of exports in 2018, as well as 0.9% of total employment at the end of that year. Since 2011 the country has continually moved further ...
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China is the world’s second largest pharmaceutical market after the US and the largest producer and exporter of active pharmaceutical ingredients (APIs) globally. Since it is the world’s most populous country, with a large share of ageing ...
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The economy’s return to growth provided a strong impetus to the Russian healthcare sector in 2017. Healthcare expenditure grew by a robust 22% y/y, when measured in US dollar terms, the first increase in many years. However, at USD 92bn in 2017 ...
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Colombia is the fourth largest economy in Latin America in terms of nominal GDP, and the third largest in the region by population, with 49.8mn people as of December 2018. Over the period 2013-2018, the wholesale, retail & repair sector performed ...
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India’s textile sector is the country’s oldest manufacturing industry. Textiles and apparel contributed 2.1% of India’s GDP, 12.65% of its manufacturing, and 12% of its exports in FY2018. Textiles is second only to agriculture in ...
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With 1.4bn population each as of 2017, India and China are the most numerous countries out of the six forming the focus of this report. However, the two countries differ widely in terms of per capita GDP, with that of China being more than twice that ...
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