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Chapter 1
1.1 Background of the study
The books say a lot about the raising consumption in emerging market and its implication for industrial countries but the real life scenario is quite different from what is written in the book. Our basic purpose was to relate the real life scenario and the concepts in the book. Throughout the study and making of this term paper we have come across various situations and conditions of business which was very much different from what we learn in the classroom. The observation tells about the rising consumption in emerging market and its implication for industrial countries. Our basic purpose is to identify the consumption rate of developing countries and developed counties try to establish their firms or industries in developing counties.

1.2 Objectives of the study

The main objective of the study is to show the next eleven country raising consumption and its implication for industrial countries. The study aims to help find the real reason behind the export and import. Moreover, it provides a source of information on the international business. The specific aims of the study are to: Analyze the total consumption; Analyze the next 11 countries economy; Analyze the next 11 countries consumption rate; Next 11 countries emergency markets; The implication of industrial countries; Analyze the countries inflation; Finding inference; Suggestion regarding the problems.

1.3 Methodology
We have gone through renowned newspaper, wall- street journal and different websites and we have also used others secondary data from different related sources and analyze it.

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1.3.1 Sources of data

1.3.1.1 Secondary Data

We collected information about the rising consumption in emerging market and its implication for industrial countries from trade economy, wall street journal, forbs business, international business news and others websites.

1.4 Scope of the study

The observation focuses on the international business. It mainly covers the next 11 countries and how and why developed countries open their industry in developing countries. We accumulate the vital information about next 11 countries consumption rate and their emerging rate, export/ import and market data etc.

1.5 Limitation
We faced lots of problem to complete this term paper. We spent most of our time to prepare this term paper so that it looks better but also error free. First of all we have no primary data. Secondary data is only one requirement for completing our assignment. We cannot move without website. This was a huge limitation to our study. Another limitation was time constraint. It was possible to overcome the first obstacle through conducting several international websites such could not be done due to lack of time. Last but not the list constraint is that website information was not very much informative. But we hope and believe that we have succeeded to make a standard term paper at last after lots of struggling.

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Raising Consumption in Next Eleven Countries and its Implication for Industrial Countries
The Next Eleven countries are Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, Turkey, South Korea, and Vietnam. There raising consumption and its implication for industrial countries discuss in below.

2.1 Bangladesh
Consumer Spending in Bangladesh increased to 7376.31 BDT Billion in 2012 from 6430.22 BDT Billion in 2011. Bangladesh Consumer Spending averaged 4285.63 BDT Billion from 2003 until 2012, reaching an all time high of 7376.31 BDT Billion in June of 2012 and a record low of 1742.40 BDT Billion in June of 2003. This page includes a chart with historical data for Bangladesh Consumer Spending

Exports in Bangladesh increased to 2538.80 USD Million in May of 2013 from 2079.20 USD Million in April of 2013. Exports in Bangladesh is reported by the Bangladesh Bank. Bangladesh Exports averaged 3280.25 USD Million from 1995 until 2013, reaching an all time high of 15565.20 USD Million in June of 2009 and a record low of 1024.00 USD Million in October of 2009. Bangladesh exports mainly ready made garments including knit wear and hosiery (75% of exports revenue). Others include: Shrimps, jute goods (including Carpet), leather goods and tea.

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Bangladesh main exports partners are United States (23% of total), Germany, United Kingdom, France, Japan and India. This page includes a chart with historical data for Bangladesh Exports.

Imports in Bangladesh decreased to 2841.10 USD Million in April of 2013 from 2882.80 USD Million in March of 2013. Imports in Bangladesh is reported by the Bangladesh Bank. Bangladesh Imports averaged 4458.23 USD Million from 1995 until 2013, reaching an all time high of 20291.40 USD Million in June of 2009 and a record low of 1424.20 USD Million in August of 2009. Bangladesh imports mostly petroleum product and oil, machinery and parts, soybean and palm oil, raw cotton, iron and steel and wheat. Bangladesh main imports partners are China (17% of total), India, Indonesia, Singapore and Japan. This page includes a chart with historical data for Bangladesh Imports

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2.2 Egypt
Consumer Spending in Egypt increased to 1223200 EGP Million in 2012 from 1036000 EGP Million in 2011. Consumer Spending in Egypt is reported by the Central Bank of Egypt. Egypt Consumer Spending averaged 277473.03 EGP Million from 1980 until 2012, reaching an all time high of 1223200.00 EGP Million in June of 2012 and a record low of 11410.00 EGP Million in June of 1980. This page includes a chart with historical data for Egypt Consumer Spending.

Exports in Egypt decreased to 2652.90 USD Million in April of 2013 from 2762.50 USD Million in March of 2013. Exports in Egypt is reported by the Central Bank of Egypt. Egypt Exports averaged 454.20 USD Million from 1957 until 2013, reaching an all time high of 2991.20 USD Million in June of 2008 and a record low of 12.63 USD Million in July of 1959. In Egypt, exports account for about a quarter of GDP. The major exports are oil and other mineral products (32 percent of total exports), chemical products (12 percent), agricultural products, livestock and others fats (11 percent) and textiles (10.5 percent, mainly cotton). Other exports include: base metals (5.5 percent), machinery and electrical appliances (4.5 percent) and foodstuff, beverages and tobacco (4 percent). Major export partners are Italy, Spain, France, Saudi Arabia, India and Turkey. Others include: United States, Brazil and Argentina. This page includes a chart with historical data for Egypt Exports.

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Imports in Egypt decreased to 4705.80 USD Million in April of 2013 from 5263.90 USD Million in March of 2013. Imports in Egypt is reported by the Central Bank of Egypt. Egypt Imports averaged 1045.72 USD Million from 1957 until 2013, reaching an all time high of 6497.80 USD Million in May of 2012 and a record low of 33.05 USD Million in July of 1957. Egypt imports mainly mineral and chemical products (25 percent of total imports), agricultural products, livestock and foodstuff (24 percent, mainly wheat, maize and meat), machinery and electrical equipment (15 percent) and base metals (13 percent). Other imports include raw hides, wood, paper-making products, textiles and footwear (9.5 percent), artificial resins and rubber (6 percent) and vehicles and aircraft (5.5 percent). Main import partners are Germany, Italy, China, Turkey, Saudi Arabia, Kuwait and Lebanon, United States and India. This page includes a chart with historical data for Egypt Imports.

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Industrial Production in Egypt increased 6.26 percent in April of 2013 over the same month in the previous year. Industrial Production in Egypt is reported by the Ministry of Planning. Egypt Industrial Production averaged 5.11 Percent from 2004 until 2013, reaching an all time high of 35.30 Percent in January of 2007 and a record low of -20.03 Percent in June of 2009. In Egypt, industrial production measures the output of businesses integrated in the manufacturing sector of the economy. This page includes a chart with historical data for Industrial Production in Egypt.

2.3 Indonesia
Consumer Spending in Indonesia increased to 369310.20 IDR Billion in the first quarter of 2013 from 368212.80 IDR Billion in the fourth quarter of 2012. Consumer Spending in Indonesia is reported by the Statistics Indonesia. Indonesia Consumer Spending averaged 279367.64 IDR Billion from 2000 until 2013, reaching an all time high of 369310.20 IDR Billion in February of 2013 and a record low of 210001.20 IDR Billion in February of 2000. This page includes a chart with historical data for Indonesia Consumer Spending.

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Exports in Indonesia increased to 16073.90 USD Million in May of 2013 from 14697.80 USD Million in April of 2013. Exports in Indonesia is reported by the Badan Pusat Statistik Indonesia. Indonesia Exports averaged 3398.89 USD Million from 1960 until 2013, reaching an all time high of 18647.83 USD Million in August of 2011 and a record low of 30.00 USD Million in January of 1961. In Indonesia, exports have been an engine of growth in recent years. Major exports are oil and gas (about 20 percent), mineral fuels and oils (14 percent); fats, oils and waxes (11 percent) and electrical equipment and machinery (9 percent). Other exports include: rubber and rubber articles (5.5 percent), clothes and footwear (6 percent) and wood and paper (5 percent). Major export partners are China (14 percent), Japan (12 percent), the United States (9.5 percent) and India (8 percent). Others include: Singapore, Malaysia and South Korea. This page includes a chart with historical data for Indonesia Exports.

Imports in Indonesia increased to 16663.63 USD Million in May of 2013 from 16314.20 USD Million in April of 2013. Imports in Indonesia is reported by the Badan Pusat Statistik Indonesia. Indonesia Imports averaged 2558.84 USD Million from 1959 until 2013, reaching an all time high of 17207.93 USD Million in October of 2012 and a record low of 21.00 USD Million in September of 1959. Indonesia imports mainly oil and gas (around 22 percent of total imports), machinery (15 percent), electrical equipment (10 percent), iron and steel (5 percent) and vehicles (5 percent). Main import partners are China (19 percent), Japan (15 percent), the United States (7.5 percent) and Singapore (7 percent). Others include: Thailand, South Korea and Malaysia. This page includes a chart with historical data for Indonesia Imports.

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Industrial Production in Indonesia increased 16.20 percent in December of 2012 over the same month in the previous year. Industrial Production in Indonesia is reported by the Badan Pusat Statistik Indonesia. Indonesia Industrial Production averaged 2.76 Percent from 1994 until 2012, reaching an all time high of 34.50 Percent in January of 2001 and a record low of -25.40 Percent in May of 1998. In Indonesia, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for Indonesia Industrial Production.

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2.4 Iran Consumer Price Index (CPI) in Iran increased to 390.90 Index Points in December of 2012 from 381.20 Index Points in November of 2012. Consumer Price Index (CPI) in Iran is reported by the Central Bank of Iran. Iran Consumer Price Index (CPI) averaged 210.78 Index Points from 2006 until 2012, reaching an all time high of 390.90 Index Points in December of 2012 and a record low of 115.80 Index Points in April of 2006. In Iran, I.r. Of, the Consumer Price Index or CPI measures changes in the prices paid by consumers for a basket of goods and services. This page includes a chart with historical data for Iran, I.r. Of Consumer Price Index (CPI).

Exports in Iran increased to 144874 USD Million in 2011 from 112788 USD Million in 2010. Exports in Iran is reported by the Central Bank of Iran. Iran Exports averaged 33711.97 USD Million from 1973 until 2011, reaching an all time high of 144874.00 USD Million in December of 2011 and a record low of 7171.00 USD Million in December of 1986. Oil and natural gas are Irans most important exports, accounting for 82 percent of the countrys export revenues. Other exports include chemicals, plastics, fruits, ceramic products and metals. Irans main exports partners are: China (21 percent of total exports), Japan (9.2 percent) and Turkey (9 percent). Others include: South Korea and Italy. . This page includes a chart with historical data for Exports in Iran.

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Imports in Iran increased to 77805 USD Million in 2011 from 75458 USD Million in 2010. Imports in Iran is reported by the Central Bank of Iran. Iran Imports averaged 24858.54 USD Million from 1973 until 2011, reaching an all time high of 77805.00 USD Million in December of 2011 and a record low of 4788.00 USD Million in December of 1973. Iran main imports are: non-electrical machinery (17 percent of total imports), iron and steel (14 percent), chemicals and related products (11 percent), transport vehicles (9 percent) and electrical machinery, tools and appliances (7 percent). Main import partners are: United Arab Emirates (31 percent of total imports) and China (17 percent). Others include: South Korea, Turkey and Germany. This page includes a chart with historical data for Imports in Iran.

Industrial Production in Iran increased 10.10 percent in 2010 over the previous year. Industrial Production in Iran is reported by the Statistical Centre of Iran. Iran Industrial Production

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averaged 6.93 Percent from 1975 until 2010, reaching an all time high of 102.82 Percent in December of 1979 and a record low of -61.29 Percent in December of 1978. In Iran, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for Industrial Production in Iran.

2.5 Mexico
Consumer Spending in Mexico decreased to 6823614 MXN Million in the fourth quarter of 2012 from 6839090 MXN Million in the third quarter of 2012. Consumer Spending in Mexico is reported by the Instituto Nacional de Estadstica y Geografa, Mexico. Mexico Consumer Spending averaged 5899149.88 MXN Million from 2003 until 2012, reaching an all time high of 6839090.00 MXN Million in August of 2012 and a record low of 4849603.00 MXN Million in February of 2003. This page includes a chart with historical data for Mexico Consumer Spending.

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Exports in Mexico decreased to 32835.65 USD Million in May of 2013 from 32860.66 USD Million in April of 2013. Exports in Mexico is reported by the Instituto Nacional de Estadstica y Geografa. Mexico Exports averaged 10756.20 USD Million from 1980 until 2013, reaching an all time high of 33919.27 USD Million in October of 2012 and a record low of 1225.59 USD Million in February of 1980. Mexico has an export oriented economy. In recent years, the exports of automobiles and related products have been gaining importance and now accounts for 24 percent of total shipments. Other exports include: oil and oil products (14 percent) and agricultural products (3 percent). Mexicos main export partner is the United States (78 percent) followed by Canada (3 percent). This page includes a chart with historical data for Mexico Exports.

Imports in Mexico decreased to 33305.57 USD Million in May of 2013 from 34087.54 USD Million in April of 2013. Imports in Mexico is reported by the Instituto Nacional de Estadstica y Geografa. Mexico Imports averaged 10994.64 USD Million from 1980 until 2013, reaching an all time high of 35564.84 USD Million in October of 2012 and a record low of 647.02 USD Million in January of 1983. Mexico main imports are: metallic products, machinery and

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equipment (50 percent of total imports), mining products (13 percent), chemical products (6.3 percent) and plastic and rubber products (6 percent). Main import partners are: United States (51 percent of total imports), China (16 percent) and Japan (5 percent). This page includes a chart with historical data for Mexico Imports.

Industrial Production in Mexico increased 0.50 percent in May of 2013 over the same month in the previous year. Industrial Production in Mexico is reported by the Instituto Nacional de Estadstica y Geografa. Mexico Industrial Production averaged 2.35 Percent from 1980 until 2013, reaching an all time high of 18.10 Percent in October of 1996 and a record low of -14.82 Percent in March of 1983. In Mexico, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for Mexico Industrial Production.

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2.6 Nigeria
Consumer Price Index (cpi) in Nigeria increased to 144.80 Index Points in April of 2013 from 144 Index Points in March of 2013. Consumer Price Index (cpi) in Nigeria is reported by the Nigeria National Bureau of Statistics. Nigeria Consumer Price Index (CPI) averaged 92.78 Index Points from 2004 until 2013, reaching an all time high of 144.80 Index Points in April of 2013 and a record low of 54.00 Index Points in March of 2004. In Nigeria, the Consumer Price Index or CPI measures changes in the prices paid by consumers for a basket of goods and services. This page includes a chart with historical data for Nigeria Consumer Price Index (cpi).

Exports in Nigeria increased to 8.13 USD Billion in March of 2013 from 7.09 USD Billion in February of 2013. Exports in Nigeria is reported by the Central Bank of Nigeria. Nigeria Exports averaged 5.02 USD Billion from 2002 until 2013, reaching an all time high of 10.26 USD Billion in May of 2008 and a record low of 1.00 USD Billion in February of 2002. Exports of commodities (oil and natural gas) is the main factor behind Nigeria's growth and accounts for more than 95% of total exports. Nigeria's main exports partners are: USA (30% of total in 2009), Equatorial Guinea (8%), Brazil (6.6%), France (6%) and India (6%). This page includes a chart with historical data for Nigeria Exports.

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Imports in Nigeria decreased to 5.49 USD Billion in March of 2013 from 5.71 USD Billion in February of 2013. Imports in Nigeria is reported by the Central Bank of Nigeria, National Bureau of Statistics. Nigeria Imports averaged 2.79 USD Billion from 2002 until 2013, reaching an all time high of 7.52 USD Billion in August of 2011 and a record low of 0.47 USD Billion in December of 2002. Nigeria imports mainly: industrial supplies (32% of total), transport equipment and parts (23%), capital goods (24%), food and beverage (11%) and consumer goods. Main import partners are: China (17% of total), Albania (11.3%), United States (7.5%), France and Belgium. This page includes a chart with historical data for Nigeria Imports.

Industrial Production in Nigeria increased 0.70 percent in the first quarter of 2013 over the same quarter in the previous year. Industrial Production in Nigeria is reported by the Central Bank of Nigeria. Nigeria Industrial Production averaged 3.05 Percent from 2007 until 2013, reaching an all time high of 14.90 Percent in December of 2011 and a record low of 0.10 Percent in June of 2007. In Nigeria, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for Nigeria Industrial Production.

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2.7 Pakistan
Consumer Spending in Pakistan increased to 7990018 PKR Million in 2013 from 7684057 PKR Million in 2012. Consumer Spending in Pakistan is reported by the State Bank of Pakistan. Pakistan Consumer Spending averaged 4169760.93 PKR Million from 2000 until 2013, reaching an all time high of 7990018.00 PKR Million in June of 2013 and a record low of 2884021.00 PKR Million in June of 2000. This page includes a chart with historical data for Pakistan Consumer Spending.

Exports in Pakistan increased to 216588 PKR Million in June of 2013 from 213978 PKR Million in May of 2013. Exports in Pakistan is reported by the Pakistan Bureau of Statistics. Pakistan Exports averaged 29212.19 PKR Million from 1957 until 2013, reaching an all time high of 216588 PKR Million in June of 2013 and a record low of 51 PKR Million in April of 1958. Pakistan main exports are: cotton and knitwear (28 percent of total exports); bed wear, carpets and rugs (8 percent) and rice (8 percent). Others include: leather, fish, sports goods and fruits and vegetables. Main export partners are: United States (15 percent of total exports), United Arab Emirates (10 percent), Afghanistan (9.5 percent), China (9 percent), United Kingdom (3 percent) and Germany (2 percent). This page includes a chart with historical data for Pakistan Exports.

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Imports in Pakistan decreased to 388358 PKR Million in June of 2013 from 427531 PKR Million in May of 2013. Imports in Pakistan is reported by the Pakistan Bureau of Statistics. Pakistan Imports averaged 48129.96 PKR Million from 1957 until 2013, reaching an all time high of 427531 PKR Million in May of 2013 and a record low of 96 PKR Million in April of 1959. Pakistan main imports are: fuel (40 percent of total imports); machinery and transport equipment (18 percent); chemicals (16 percent); food and animal or vegetable oils (13 percent) and manufactured goods (12 percent). Main import partners are: United Arab Emirates (17 percent), China (15 percent), Saudi Arabia (11 percent) and Kuwait (9 percent). Others include: Malaysia, Japan, India and United States. This page includes a chart with historical data for Pakistan Imports.

Industrial Production in Pakistan increased 4.76 percent in April of 2013 over the same month in the previous year. Industrial Production in Pakistan is reported by the Pakistan Bureau of Statistics. Pakistan Industrial Production averaged 2.36 Percent from 2011 until 2013, reaching an all time high of 9.32 Percent in March of 2013 and a record low of -2.00 Percent in October of 2011. In Pakistan, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for Industrial Production in Pakistan.

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2.8 Philippines
Consumer Spending in Philippines increased to 1143449 PHP Million in the first quarter of 2013 from 1133431 PHP Million in the fourth quarter of 2012. Consumer Spending in Philippines is reported by the National Statistics Coordination Board of Philippines. Philippines Consumer Spending averaged 830878.64 PHP Million from 1998 until 2013, reaching an all time high of 1143449.00 PHP Million in February of 2013 and a record low of 583959.00 PHP Million in February of 1998. This page includes a chart with historical data for Philippines Consumer Spending.

Exports in Philippines increased to 4890848 USD Thousand in May of 2013 from 4121281 USD Thousand in April of 2013. Exports in Philippines is reported by the National Statistics Office (NSO). Philippines Exports averaged 1258737.02 USD Thousand from 1957 until 2013, reaching an all time high of 5340847 USD Thousand in September of 2010 and a record low of 23000 USD Thousand in October of 1957. Philippines is the worlds largest producer of coconut, pineapple and abaca (more than 7 percent of total exports revenues). The country is also a major exporter of electronic products like processors, chips and hard drives (over 40 percent of exports). Other exports include: woodcrafts and furniture (5 percent), metal components (3 percent), wiring sets (3 percent), apparel and clothing, bananas, petroleum products and tuna. Main export partners are: Japan (28 percent of total exports), United States (15 percent), China (12 percent), Hong Kong (9 percent), Singapore (8 percent), Thailand (5 percent) and Germany (4 percent). This page includes a chart with historical data for Philippines Exports.

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Imports in Philippines increased to 5141404 USD Thousand in April of 2013 from 4921837 USD Thousand in March of 2013. Imports in Philippines is reported by the National Statistics Office (NSO). Philippines Imports averaged 1487889.47 USD Thousand from 1957 until 2013, reaching an all time high of 5882358 USD Thousand in July of 2008 and a record low of 37084 USD Thousand in February of 1963. Philippines main imports are: fuel (25 percent), electronic products (25 percent), transport equipment (7 percent), industrial machinery (5 percent), iron ore and metal scrap (4 percent) and cereals (3 percent). Main import partners are: United States (11 percent), China (11 percent), Japan (10 percent), Taiwan (8 percent), South Korea (9 percent), Thailand (6 percent) and Singapore (6 percent). This page includes a chart with historical data for Philippines Imports.

Industrial Production in Philippines increased 9.70 percent in May of 2013 over the same month in the previous year. Industrial Production in Philippines is reported by the NSO Philippines. Philippines Industrial Production averaged 9.32 Percent from 1986 until 2013, reaching an all time high of 68.60 Percent in April of 1988 and a record low of -26.60 Percent in January of 2009. In Philippines, Industrial Production is measured by the Value of Production Index (VaPI) of the manufacturing industry. This page includes a chart with historical data for Industrial Production in Philippines.

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2.9 Turkey
Consumer Spending in Turkey decreased to 19550316.70 TRY THO in the first quarter of 2013 from 19842396.70 TRY THO in the fourth quarter of 2012. Consumer Spending in Turkey is reported by the Turkish Statistical Institute. Turkey Consumer Spending averaged 15400895.60 TRY THO from 1998 until 2013, reaching an all time high of 20784965.00 TRY THO in August of 2011 and a record low of 10371420.00 TRY THO in February of 1999. This page includes a chart with historical data for Turkey Consumer Spending.

Exports in Turkey increased to 13315.59 USD Million in May of 2013 from 12492.03 USD Million in April of 2013. Exports in Turkey is reported by the Turkish Statistical Institute. Turkey Exports averaged 2163.37 USD Million from 1957 until 2013, reaching an all time high of 13755.22 USD Million in November of 2012 and a record low of 7.10 USD Million in August of 1958. Turkey major exports are: textiles and clothing, automotive, iron and steel, white goods and chemicals and pharmaceuticals. Turkey is also one of the leading shipbuilding nations. Turkey's main export partners are European Union, United States and Russia. This page includes a chart with historical data for Turkey Exports.

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Imports in Turkey increased to 23208.79 USD Million in May of 2013 from 22824.68 USD Million in April of 2013. Imports in Turkey is reported by the Turkish Statistical Institute. Turkey Imports averaged 3455.87 USD Million from 1957 until 2013, reaching an all time high of 23208.79 USD Million in May of 2013 and a record low of 15.00 USD Million in August of 1958. Turkey imports mainly machinery, chemicals, semi-finished goods, fuels and transport equipment. Its principal trading partners are European Union countries (Germany, United Kingdom, Italy, France), Russia, China and United States. This page includes a chart with historical data for Turkey Imports.

Industrial Production in Turkey increased 1 percent in May of 2013 over the same month in the previous year. Industrial Production in Turkey is reported by the Turkish Statistical Institute. Turkey Industrial Production averaged 4.58 Percent from 1986 until 2013, reaching an all time high of 25.20 Percent in December of 2009 and a record low of -23.70 Percent in February of 2009. In Turkey, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for Turkey Industrial Production.

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2.10 South Korea

Consumer Spending in South Korea decreased to 141809 KRW Billion in the first quarter of 2013 from 142430.90 KRW Billion in the fourth quarter of 2012. Consumer Spending in South Korea is reported by the Bank of Korea. South Korea Consumer Spending averaged 66862.23 KRW Billion from 1970 until 2013, reaching an all time high of 142430.90 KRW Billion in November of 2012 and a record low of 12556.60 KRW Billion in February of 1970. This page includes a chart with historical data for South Korea Consumer Spending.

Exports in South Korea decreased to 46710.10 USD Million in June of 2013 from 48363.38 USD Million in May of 2013. Exports in South Korea is reported by the Ministry of Trade, Industry & Energy. South Korea Exports averaged 10621.22 USD Million from 1966 until 2013, reaching an all time high of 48950.11 USD Million in July of 2011 and a record low of 14.75 USD Million in January of 1966. South Korea has an export oriented economy. Major exports are high-tech manufactured products like semiconductors (9 percent), machinery (9 percent), automobiles (9 percent), ships (7 percent), LCD devices (5 percent) and wireless communication

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devices (4 percent). Other exports include: steel (7 percent) and petrochemicals (10 percent). Major export partners are China (25 percent of total exports), ASEAN (14 percent), the United States (10 percent) and the European Union (9 percent). Others include: Japan, India, Brazil and Paraguay. This page includes a chart with historical data for South Korea Exports.

Imports in South Korea decreased to 40716.11 USD Million in June of 2013 from 42447.77 USD Million in May of 2013. Imports in South Korea is reported by the Ministry of Trade, Industry & Energy. South Korea Imports averaged 10164.54 USD Million from 1966 until 2013, reaching an all time high of 45565.95 USD Million in March of 2011 and a record low of 38.61 USD Million in January of 1966. South Korea imports mainly oil (23 percent of total imports), semiconductors (6 percent) and natural gas (5 percent). Other imports include coal, steel and iron ore. Main import partners are China (16 percent of total imports), Japan (12 percent), United States (8 percent) and Saudi Arabia (7 percent). Others include: the European Union (9 percent), ASEAN (10 percent) and Australia (5 percent). This page includes a chart with historical data for South Korea Imports.

Industrial Production in South Korea decreased 1.40 percent in May of 2013 over the same month in the previous year. Industrial Production in South Korea is reported by the Korea National Statistical Office. South Korea Industrial Production averaged 9.89 Percent from 1976
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until 2013, reaching an all time high of 38.80 Percent in July of 1976 and a record low of -25.30 Percent in January of 2009. In South Korea, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for South Korea Industrial Production.

2.11 Vietnam
Consumer Spending in Vietnam increased to 1630143 VND Billion in 2011 from 1317588 VND Billion in 2010. Consumer Spending in Vietnam is reported by the General Statistics Office of Vietnam. Vietnam Consumer Spending averaged 469259.55 VND Billion from 1990 until 2011, reaching an all time high of 1630143.00 VND Billion in June of 2011 and a record low of 37572.00 VND Billion in June of 1990. This page includes a chart with historical data for Vietnam Consumer Spending.

Exports in Vietnam decreased to 11000 USD Million in June of 2013 from 11675 USD Million in May of 2013. Exports in Vietnam is reported by the General Statistics Office of Vietnam.

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Vietnam Exports averaged 3751.27 USD Million from 1990 until 2013, reaching an all time high of 11675 USD Million in May of 2013 and a record low of 700 USD Million in February of 1998. Vietnam exports mainly crude oil, textiles, seafood, rice, electronics and computers and rubber. It's main exports partners are: United States, Japan, China, Australia and Singapore. This page includes a chart with historical data for Vietnam Exports.

Imports in Vietnam decreased to 10720 USD Million in June of 2013 from 12228 USD Million in May of 2013. Imports in Vietnam is reported by the General Statistics Office of Vietnam. Vietnam Imports averaged 4129.10 USD Million from 1990 until 2013, reaching an all time high of 12228 USD Million in May of 2013 and a record low of 740 USD Million in February of 1999. Vietnam imports machinery tools and spare parts, petroleum, steel, fabrics and plastics. Vietnam's main imports partners are China, Japan, South Korea, Taiwan, Thailand and Singapore. This page includes a chart with historical data for Vietnam Imports.

Industrial Production in Vietnam increased 6.50 percent in June of 2013 over the same month in the previous year. Industrial Production in Vietnam is reported by the General Statistics Office of Vietnam. Vietnam Industrial Production averaged 10.01 Percent from 2009 until 2013, reaching an all time high of 28.40 Percent in January of 2010 and a record low of -10.10 Percent in

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February of 2013. In Vietnam, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for Vietnam Industrial Production.

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3.1 Next 11 countries

The N11 countries are Bangladesh, Egypt, Indonesia, Iran, South Korea, Mexico, Nigeria, Pakistan, the Philippines, Turkey and Vietnam. Although varied both geographically and economically, these 11 countries have features in common that are believed to single out their high economic potential: All have large and growing populations. Between 1980 and 2008, population growth was highest in Pakistan at 110.8%, with the lowest being in South Korea, with 28.4% period growth; Of the N11 countries, Indonesia had the largest population as of January 2008, with 228.9 million people, while South Korea had the smallest at 47.6 million; In 2006, Mexico had the highest sum of private final consumption expenditure, totaling US$567 billion. Vietnam had the lowest, at US$36.8 billion; All 11 countries demonstrate population growth rates above those of Western developed economies, indicating greater consumer market potential over the medium term. Large populations represent a wide potential pool of consumers for businesses to target; while high growth rates mean that this market will expand rapidly, providing proportionally more potential customers.

3.2 Current consumer trends

In 2007, the N11 economies performed markedly differently, with varying implications for consumer spending trends: In 2007, real GDP growth varied between 2.9% and 8.3% year-on-year, for Mexico and Vietnam respectively; These differing growth levels were led by country-specific factors. For example, Mexican growth fell from 4.8% in 2006 owing to the Mexican economy's close links to the US economy, which experienced decelerating growth in 2007 owing to a growing credit crisis, particularly in the housing sector, growing by only 1.9%, compared to 2.9% in 2006;

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 By contrast, Vietnamese economic growth was fuelled by strong export figures, particularly of textile goods, and a surging tourism industry. In addition, Vietnam benefited from a diversified export market, meaning that it was less affected by the slowdown in the USA. In 2006 Vietnam sent 22.8% of its exports to the USA, while Mexico sent 85.8%; Consumer markets in Vietnam therefore possessed greater growth potential, with high economic growth rates encouraging wage and job growth. Sustained strong economic growth in the N11 countries is creating new consumer markets that can be targeted by businesses. However, differences in levels of growth mean that some highergrowth countries may prove more profitable for businesses.

3.3 Targeting differences

While the N11 countries share certain characteristics, they are not at the same level of economic development so consumer-focused businesses must target these markets in different ways: The N11 countries can be categorized in two different ways: developing economies and newly industrialized economies. These are both 'emerging economies', but the latter have greater industrial capacity and are typically beginning to export heavy manufactured or refined products, while the former are still largely reliant on primary exports, with some industrial capacity. Typically, developing economies have lower standards of living than newly industrialized economies; Of the N11 countries, Bangladesh, Iran, Nigeria, Pakistan and Vietnam can be categorized as developing economies, while all the others except South Korea can be categorized as newly industrialized economies. South Korea is the only N11 economy that could be categorized as a developed economy, owing to its high level of industrialization and relatively stable macroeconomic fundamentals; For example, South Korea is a predominantly technological state, exporting manufactured goods and services expertise. By contrast, Bangladesh is an exporter of

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primary goods while Nigeria is an oil exporter and an exporter of lower-level manufactured goods; In 2007, GDP per capita (purchasing price parity; figures adjusted for currency fluctuations) was the highest in South Korea, which has the most skilled and well-paid population, with the population being significantly smaller than most of those of its N11 peers. Nigeria had the lowest GDP per capita in 2007, at International $1,328, owing in part to a lower skilled but larger population, but also the significantly lower level of development in the country;

3.4 GDP per capita in N11 countries: 2007

(International $, PPP)

Source: Euro monitor International from IMF. Sales of high-end consumer goods are therefore likely to be higher in a higher income country such as South Korea, while a lower income N11 state may be more suitable for targeting more basic consumer durables. Consumer incomes in N11 countries are not necessarily comparable, but are at different levels and will grow by varying rates in the long term. This allows international businesses to target these markets for different products.

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3.5 N11 business environments

The N11 countries are also different in their business environments, affecting their relative attractiveness as an investment destination: South Korea was ranked 30th out of 178 countries in the World Bank's 2007 Ease of Doing Business survey, the highest of the N11 countries. This is due to its well-regulated tax and investment code, heavily influenced by the US model, and the adherence of state and financial institutions to this code; Iran is ranked the lowest at 135th. This reflects its authoritarian state-owned business environment, which in many cases actively deters foreign investors. In other cases, the regulatory environment is opaque and arbitrary, offering few incentives for investment; In 2006, Turkey received the greatest amount of foreign direct investment of the N11 countries, at US$20.1 billion. This reflected its unique role as a bridge between Europe and the Middle East, and its consequent position as an export and re-export hub; By contrast, Iran received the least foreign direct investment, at US$901 million, indicating its investor unfriendly business environment and also the economic sanctions imposed on it by the USA. Business environment is a major contributing factor for potential growth, since investors can easily choose to invest elsewhere if operating environments are too difficult, restricting the potential for wage and job growth in those countries.

3.6 Potential drawbacks

While the N11 countries have significant growth potential, there are also factors that could hinder them from following the BRIC growth path: Shifts in global commodity prices will affect the N11 producers of these commodities. For example, all except South Korea are oil producers, although only Mexico and Iran are consistent net oil exporters. Accordingly, high oil prices (with oil touching US$100 per

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barrel in January 2008) will benefit Mexico and Iran in particular, although the other producers will also benefit, since their domestic supply will limit the amount of imported oil required, and hence a higher import cost; Domestic political events may also restrict growth prospects. For example, ongoing political instability in Pakistan and Bangladesh may deter investment, while the activities of terrorist groups in Indonesia, the Philippines, Nigeria and Turkey could also act as a disincentive for growth. Both global market moves, particularly of export commodities, and the domestic political situation could act to counteract the investment incentives offered by these countries. This would limit the potential for economic growth, with correspondingly negative implications for consumer spending growth.

3.7 Future scenarios

Both domestic and international factors will affect growth prospects for the N11 countries going forward: Demand from key export markets will determine economic growth. For the N11 countries, the USA and China are the main export markets. Although US GDP growth is forecast to reach only 1.9% year-on-year in 2008 owing to ongoing concerns about poor credit, China's economy will grow by 10%; Those countries that are most stable whether via democracy or dictatorship will have better prospects for consistent growth. These include South Korea, Vietnam, Mexico and Egypt; A key factor for Iran will be the continuation of economic sanctions by the USA, which would curtail growth.

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Appendix
Taka In Crore

Year

Total Consumpt ion at current market price at BDT

Gross Nation al Saving at Current Market price at BDT

Total Investm ent at current market price

GDP at Curre nt Marke t Price

Gross Nation al Incom e at Curren t Marke t Price

Gross Disposa ble National Income at Current Market Price 143116 161663

Consump tion as % of GDP at Current Market Price

199394 199495 199596 199697 199798 199899 199900 200001 200102 200203 2003-

117668 132497

25448 29166

24919 29161

13541 2 15251 8

139646 157169

86.9 86.87

141540 151963

33554 38989

33254 37447

16632 4 18070 1

171278 186547

175095 190952

85.1 84.1

165323 180796

43587 49014

43303 48758

20017 7 21969 5

206674 227250

208910 229810

82.59 82.29

194691 207918

54761 56809

54587 58536

23708 6 25354 6

245799 262387

249452 264726

82.12 82

223596

64038

63239

27320 1

285744

287634

81.84

244570

74752

70352

30058 0 33297

317163

319322

81.79

267927

84719

79991

350526

352647

80.74

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04 200405 296512 95804 90924

3 37070 7 389635 392316 79.99

200506 200607 200708 200809

331552

115036

102480

41572 8

442935

446588

79.75

376317

135424

115590

47247 7

507752

511741

79.54

434971

164912

132132

54582 2

594212

599883

79.69

492338

199205

148841

61494 3

683231

691543

79.98

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