Information about Western Hemisphere Hemisferio Occidental
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Global Financial Stability Report Statistical Appendix, April 2014

Author(s):
International Monetary Fund
Published Date:
April 2014
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This presentation complements the main text of the Global Financial Stability Report (GFSR) with data on financial developments in regions and countries as well as in selected sectors.

Unless noted otherwise, the data reflect information available up to January 24, 2014. The data come for the most part from sources outside the IMF. Although the IMF endeavors to use the highest quality data available, it cannot be responsible for the accuracy of information obtained from independent sources.

Please note that effective with the April 2011 issue, the IMF’s Statistics Department has assumed responsibility for compiling the Financial Soundness Indicators tables, and those tables are no longer part of this appendix. However, those tables will continue to be linked to the GFSR Statistical Appendix on the IMF’s public website.

The following symbols are used in this appendix:

  • … to indicate that data are not available;
  • — to indicate that the figure is zero or less than half the final digit shown or that the item does not exist;
  • – between years and months (for example, 2008–09 or January–June) to indicate the years or months covered, including the beginning and ending years or months;
  • / between years (for example, 2008/09) to indicate a fiscal or financial year.

“Billion” means a thousand million; “trillion” means a thousand billion.

“Basis points” refers to hundredths of 1 percentage point (for example, 25 basis points is equivalent to ¼ of 1 percentage point).

“n.a.” means not applicable.

Minor discrepancies between constituent figures and totals are due to rounding.

As used in this volume, the term “country” does not in all cases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained on a separate and independent basis.

Contents

Tables

Figure 1.Major Net Exporters and Importers of Capital, 2013

Source: IMF, World Economic Outlook database as of March 28, 2014.

1 As measured by economies’ current account surplus (assuming errors and omissions are part of the capital and financial accounts).

2 Other economies include all economies with shares of total surplus less than 2.3 percent.

3 As measured by economies’ current account deficit (assuming errors and omissions are part of the capital and financial accounts).

4 Other economies include all economies with shares of total deficit less than 4.0 percent.

Figure 2.Sovereign Credit Default Swap Spreads

(Five-year tenors; basis points)

Source: Bloomberg L.P.

Figure 3.Selected Credit Default Swap Spreads

(Five-year tenors; basis points)

Sources: Bloomberg, L.P.; and Thomson Reuters Datastream.

Note: CEEMEA = Central and Eastern Europe, Middle East, and Africa.

Figure 4.Selected Spreads

(Basis points; monthly data)

Sources: Bank of America Merrill Lynch and Bloomberg, L.P.

1 Spread between yields on three-month U.S. Treasury repo and on three-month U.S. Treasury bill.

2 Spread between yields on 90-day investment-grade (financial and nonfinancial) commercial paper and on three-month U.S. Treasury bill.

3 Spread over 10-year government bond.

Figure 5.Implied Volatility Indices

Source: Bloomberg, L.P.

Note: MOVE = Bank of America Merrill Lynch Option Volatility Estimate index and denotes one-month Treasury options volatility. VIX = Chicago Board Options Exchange volatility index on the Standard & Poor’s 500 and denotes equity volatility. G7 currencies = VXY index from J.P. Morgan Chase & Co. and denotes G7 foreign exchange volatility.

Figure 6.U.S. Corporate Bond Market

Sources: Bank of America Merrill Lynch and Board of Governors of the Federal Reserve System.

Figure 7.Euro Area Corporate Bond Market

Sources: Bank of America Merrill Lynch and Dealogic.

Figure 8.U.S. Commercial Paper Market

Source: Board of Governors of the Federal Reserve System.

1 Difference between 30-day A2/P2 and AA nonfinancial commercial paper.

Table 1.Capital Market Size: Selected Indicators, 2012(Billions of U.S. dollars, unless noted otherwise)
GDPTotal

Reserves

Minus Gold2
Stock Market

Capitalization
Total Debt

Securities3
Bank

Assets4
Bonds,

Equities, and

Bank Assets5
Bonds, Equities,

and Bank Assets5

(percent of GDP)
World72,105.811,405.752,848.598,973.9121,946.5273,768.9379.7
European Union115,515.1498.010,085.929,296.647,856.387,238.7562.3
Euro area12,191.6332.55,845.721,822.934,969.762,638.3513.8
North America18,066.0207.518,883.237,292.418,679.074,854.6414.3
Canada1,821.468.42,027.62,100.63,856.57,984.7438.4
United States16,244.6139.116,855.635,191.714,822.566,869.9411.6
Japan5,937.81,227.13,638.614,592.412,324.330,555.4514.6
Memorandum Items:
E.U. countries
Austria394.712.2112.3637.41,295.72,045.4518.2
Belgium483.218.6297.8736.21,330.42,364.3489.3
Denmark315.286.1243.8920.21,188.22,352.1746.3
Finland247.38.5163.0281.8583.71,028.5415.9
France2,612.754.21,662.74,533.09,458.215,653.9599.2
Germany3,427.967.41,567.14,355.28,743.814,666.1427.9
Greece248.61.344.9237.5445.1727.5292.7
Ireland210.81.4107.21,204.61,151.42,463.31,168.8
Italy2,014.450.5509.73,895.43,212.97,618.0378.2
Luxembourg55.20.970.3729.7969.81,769.93,207.9
Netherlands770.522.1651.02,285.32,673.75,610.0728.1
Portugal212.32.270.9395.7656.41,123.1529.1
Spain1,323.235.5567.92,422.14,246.67,236.7546.9
Sweden523.945.5580.6775.3816.42,172.4414.6
United Kingdom2,484.488.63,415.75,778.210,882.020,075.9808.1
Newly industrialized Asian economies62,151.91,302.75,943.62,316.55,043.313,303.4618.2
Emerging market economies726,834.47,378.411,196.310,834.130,412.852,443.3195.4
of which:
Asia12,383.34,187.35,852.75,491.521,081.332,425.6261.8
Latin America and the5,632.6798.32,475.63,590.03,947.710,013.3177.8
Caribbean
Middle East and North3,084.21,278.2895.3221.11,921.33,037.698.5
Africa
Sub-Saharan Africa1,275.7201.9606.1259.8631.11,497.0117.4
Europe4,458.6912.71,366.61,271.72,831.55,469.8122.7
Sources: Bank for International Settlements (BIS); Bankscope; Board of Governors of the Federal Reserve System, Flow of Funds; Bloomberg, L.P.; IMF, International Financial Statistics (IFS) and World Economic Outlook databases as of March 28, 2014; Standard and Poor’s; and World Federation of Exchanges.

This aggregate includes euro area countries, Denmark, Sweden, and the United Kingdom.

Data are from IFS. For euro area, the data also include the total reserves minus gold holdings of the European Central Bank.

Data are from BIS as of January 24, 2014. The data include total debt securities, all issuers, amounts outstanding by residence of issuer. BIS compilation methodology changed in December 2012. For the new data definition and classification, refer to “Enhancements to the BIS Debt Securities Statistics” publication.

Total assets of domestic commercial banks, including foreign banks’ subsidiaries operated domestically. For Austria, the data are from Austrian National Bank. For Germany, the data are from Deutsche Bundesbank. They comprise the assets of monetary and financial institutions, excluding special purpose banks, mortgage banks, and building and loan associations. For Ireland, the data are from Central Bank of Ireland. For Luxembourg, the data are from Commission de Surveillance du Secteur Financier. They comprise the assets of commercial, savings, and private banks. For Portugal, the data are from Bank of Portugal. For the United States, the data are from the Flow of Funds. They comprise the assets of private depository institutions.

Sum of the stock market capitalization, debt securities, and bank assets.

Hong Kong SAR, Korea, Singapore, and Taiwan Province of China.

This aggregate comprises the group of emerging and developing economies defined in the World Economic Outlook.

Sources: Bank for International Settlements (BIS); Bankscope; Board of Governors of the Federal Reserve System, Flow of Funds; Bloomberg, L.P.; IMF, International Financial Statistics (IFS) and World Economic Outlook databases as of March 28, 2014; Standard and Poor’s; and World Federation of Exchanges.

This aggregate includes euro area countries, Denmark, Sweden, and the United Kingdom.

Data are from IFS. For euro area, the data also include the total reserves minus gold holdings of the European Central Bank.

Data are from BIS as of January 24, 2014. The data include total debt securities, all issuers, amounts outstanding by residence of issuer. BIS compilation methodology changed in December 2012. For the new data definition and classification, refer to “Enhancements to the BIS Debt Securities Statistics” publication.

Total assets of domestic commercial banks, including foreign banks’ subsidiaries operated domestically. For Austria, the data are from Austrian National Bank. For Germany, the data are from Deutsche Bundesbank. They comprise the assets of monetary and financial institutions, excluding special purpose banks, mortgage banks, and building and loan associations. For Ireland, the data are from Central Bank of Ireland. For Luxembourg, the data are from Commission de Surveillance du Secteur Financier. They comprise the assets of commercial, savings, and private banks. For Portugal, the data are from Bank of Portugal. For the United States, the data are from the Flow of Funds. They comprise the assets of private depository institutions.

Sum of the stock market capitalization, debt securities, and bank assets.

Hong Kong SAR, Korea, Singapore, and Taiwan Province of China.

This aggregate comprises the group of emerging and developing economies defined in the World Economic Outlook.

Table 2.Morgan Stanley Capital International: Equity Market Indices(Period-on-period percent change)
2013
2010201120122013Q1Q2Q3Q4
Period-over-Period Percent Change
Global10.4−9.413.420.36.0−1.27.46.9
Emerging Markets Index116.4−20.415.1−5.0−1.9−9.15.01.5
Latin America12.1−21.95.4−15.70.5−16.53.6−3.1
Brazil3.8−24.9−3.5−18.7−1.3−18.47.7−6.2
Chile41.8−22.15.6−23.04.1−15.5−5.6−7.3
Colombia40.8−7.131.6−23.7−6.8−15.19.1−11.5
Mexico26.0−13.527.1−2.05.9−11.7−2.07.0
Peru49.2−23.915.5−31.0−2.7−28.4−3.82.9
Asia16.6−19.118.1−0.2−1.6−6.34.53.6
China2.6−20.418.70.4−4.4−9.111.53.7
India14.7−26.327.96.9−3.52.6−0.78.8
Indonesia25.84.78.8−5.314.1−6.1−11.5−0.2
Korea22.1−11.511.71.6−0.3−7.78.12.2
Malaysia19.3−0.26.811.6−0.17.0−0.85.2
Pakistan21.4−12.933.536.92.814.34.911.0
Philippines23.5−3.134.73.417.1−4.0−4.9−3.3
Taiwan Province of China7.9−20.38.89.42.81.8−0.55.1
Thailand36.4−1.226.9−10.74.7−4.2−5.3−6.0
Europe, Middle East, and Africa20.9−22.617.7−8.0−5.8−9.88.5−0.2
Czech Republic1−5.9−6.8−6.1−11.2−9.5−12.27.83.6
Egypt15.9−46.852.515.9−4.7−8.610.520.4
Hungary−1.6−23.78.1−11.20.24.5−7.8−8.1
Morocco17.2−16.5−17.6−10.4−0.9−7.1−3.20.6
Poland16.3−21.719.0−4.2−7.0−3.56.9−0.1
Russia17.2−20.99.6−2.6−3.2−11.113.10.2
South Africa17.40.920.612.5−2.4−0.49.45.8
Turkey21.5−22.451.7−13.49.7−11.4−2.2−8.9
Sectors
Energy7.5−20.12.5−13.6−6.0−13.99.9−2.8
Materials14.7−23.06.4−13.4−9.3−14.17.93.1
Industrials27.1−30.614.9−2.8−1.5−9.66.52.5
Consumer Discretionary29.5−10.414.64.3−2.6−3.68.62.3
Consumer Staples27.6−1.423.0−5.51.6−4.5−0.7−1.9
Health Care25.7−23.231.68.02.5−1.02.04.4
Financials14.5−25.622.0−7.01.5−11.32.70.6
Information Technology13.9−17.126.312.20.8−4.07.57.8
Telecommunications10.9−8.09.6−5.3−5.5−1.01.6−0.3
Utilities4.9−16.42.4−5.91.6−11.80.74.3
Period-over-Period Percent Change
Developed Markets9.6−7.613.224.17.2−0.17.77.6
Australia−3.5−14.914.915.77.3−2.98.12.7
Austria14.8−35.720.76.1−2.4−5.313.61.0
Belgium4.6−9.634.019.211.7−7.49.05.7
Canada12.0−12.24.310.22.4−4.55.46.9
Denmark39.0−14.328.118.15.6−5.39.08.3
Finland7.1−34.210.041.61.8−1.626.611.6
France−6.7−19.317.723.30.40.815.35.7
Germany6.0−20.127.228.2−0.10.512.713.3
Greece−46.4−63.6−0.846.214.0−12.833.610.1
Hong Kong SAR19.7−18.424.48.13.1−5.98.13.0
Ireland−19.711.43.838.911.4−3.716.411.3
Israel2.2−29.8−7.08.06.6−5.31.25.7
Italy−17.6−25.88.616.9−9.8−1.419.010.5
Japan13.4−16.25.824.910.74.26.02.1
Netherlands−0.6−14.417.228.52.21.314.48.4
New Zealand3.21.123.06.28.0−10.414.9−4.5
Norway7.4−12.813.75.30.5−8.58.65.5
Portugal−14.6−25.7−0.77.5−0.3−3.610.51.3
Singapore18.4−21.026.4−1.82.8−7.63.20.2
Spain−25.4−16.9−3.327.7−6.4−1.525.110.8
Sweden31.3−17.818.721.48.6−7.715.25.2
Switzerland9.8−9.117.323.810.4−1.79.44.3
United Kingdom8.5−5.45.914.18.6−3.24.04.3
United States13.2−0.113.529.910.12.25.29.7
Source: Morgan Stanley Capital International (MSCI).Note: Price indices are in local currency terms.

The country and regional classifications used in this table follow the conventions of MSCI and do not necessarily conform to IMF country classifications or regional groupings.

Source: Morgan Stanley Capital International (MSCI).Note: Price indices are in local currency terms.

The country and regional classifications used in this table follow the conventions of MSCI and do not necessarily conform to IMF country classifications or regional groupings.

Table 3.Emerging Markets Bond Index: Global Sovereign Yield Spreads(Basis points)
2013
2010201120122013Q1Q2Q3Q4
End-of-Period Spread Levels
EMBI Global289426266327307353355327
Latin America357468326393358424412393
Argentina5079259918081,3071,1991,035808
Belize6171,3912,245807789872872807
Brazil189225140230190243245230
Chile115172116148153180171148
Colombia172191112163147193187163
Dominican Republic322597343349385401429349
Ecuador913846826530700665628530
El Salvador302478396389350436409389
Jamaica427637711641680623637641
Mexico173222155177182223210177
Panama162201129199169218208199
Peru165216114162147201184162
Uruguay188213127194173235200194
Venezuela1,1141,2587861,1417979761,0101,141
Europe231440208280270300310280
Belarus6231,164695714630747950714
Bulgaria19534094991146568
Croatia298602311306386361366306
Georgia504471357382363402416382
Hungary345605345278429352329278
Kazakhstan324453207275270316295275
Lithuania267447149149182211175149
Poland151310108118145157153118
Romania235201283270241201
Russia224364157208210234231208
Serbia418601391374416440432374
Turkey177385177310229255284310
Ukraine461940632763631782996763
Middle East284439426393450450459393
Iraq314603465511494576535511
Jordan500436290446348321290
Lebanon270384412366437419443366
Africa329452264322312381360322
Côte d’Ivoire1,1541,192473442483573492442
Egypt221607453443672764537443
Gabon258422252348237313353348
Ghana363534397547412525552547
Nigeria435261293288369348293
South Africa145261163247217268275247
Asia175271165224201239260224
China126278146149153194175149
Indonesia183274179292226275324292
Malaysia11717898139128163152139
Pakistan6541,2747986061,039703637606
Philippines163242121133153172173133
Sri Lanka290461342439379436469439
Vietnam323510304274280358329274
Period-over-Period Spread Level Changes
EMBI Global−6138−1616142462−28
Latin America2111−142673266−12−19
Argentina−15341866−183316−108−164−227
Belize−560774854−1,438−1,456830−65
Brazil036−859050532−15
Chile2057−56323727−9−23
Colombia−2619−79513546−6−24
Dominican Republic−83275−2546421628−80
Ecuador144−67−20−296−126−35−37−98
El Salvador−24176−82−7−4686−27−20
Jamaica−29221074−70−31−57144
Mexico−1949−67222741−13−33
Panama−439−72704049−10−9
Peru051−102483354−17−22
Uruguay−5025−86674662−35−6
Venezuela73144−4723551117934131
Europe5209−23272623010−30
Belarus541−46919−65117203−236
Bulgaria16145−246515−493
Croatia103304−291−575−255−60
Georgia37−33−1142563914−34
Hungary159260−260−6784−77−23−51
Kazakhstan1−69129−246686346−21−20
Lithuania−65180−29803329−36−26
Poland27159−202103712−4−35
Romania−3448−13−28−40
Russia21140−207515324−3−23
Serbia85183−210−172524−8−58
Turkey−20208−20813352262926
Ukraine−528479−308131−1151214−233
Middle East−51155−13−332409−66
Iraq−133289−138462982−41−24
Jordan−64−14610−98−27−31
Lebanon−1711428−4625−1824−77
Africa118123−188584869−21−38
Côte d’Ivoire38−719−311090−81−50
Egypt224386−154−1021992−227−94
Gabon−132164−17096−157640−5
Ghana−99171−1371501511327−5
Nigeria−174322781−21−55
South Africa−4116−988454517−28
Asia−3196−10659363821−36
China62152−1323741−19−26
Indonesia−4791−95113474949−32
Malaysia−1961−80413035−11−13
Pakistan−34620−476−192241−336−66−31
Philippines−4379−1211232191−40
Sri Lanka−92171−11997375733−30
Vietnam9187−206−30−2478−29−55
Source: J.P. Morgan Chase & Co.Note: EMBI = emerging market bond index. The country and regional classifications used in this table follow the conventions of J.P. Morgan and do not necessarily conform to IMF country classifications or regional groupings.

Kazakh debt consists of state-owned enterprises.

Source: J.P. Morgan Chase & Co.Note: EMBI = emerging market bond index. The country and regional classifications used in this table follow the conventions of J.P. Morgan and do not necessarily conform to IMF country classifications or regional groupings.

Kazakh debt consists of state-owned enterprises.

Table 4.Emerging Market Private External Financing: Total Bonds, Equities, and Loans(Millions of U.S. dollars)
2013
2010201120122013Q1Q2Q3Q4
Total869,103.6750,514.1769,012.8912,039.2266,122.4257,591.3183,293.9214,085.6
Sub-Saharan Africa36,578.739,868.344,036.151,589.912,810.710,631.814,808.514,338.9
Angola4,391.23,110.73,847.94,996.22,500.01,241.71,014.8239.8
Botswana825.0255.079.7
Burkina Faso10.9249.4111.9137.6
Burundi15.069.5157.6
Cameroon239.6492.191.091.0
Cape Verde78.710.0
Chad14.7537.0537.0
Congo250.0
Congo, Democratic Republic of the12.2169.9100.0
Côte d’Ivoire97.0930.9152.6523.0163.060.0300.0
Djibouti1.2
Equatorial Guinea390.0600.0
Ethiopia1,342.81,694.31,497.817.017.0
Gabon500.2197.5493.82,104.5300.01,804.5
Ghana2,113.26,051.88,710.12,789.3163.744.12,441.5140.0
Guinea34.8198.9100.0100.0
Kenya703.4660.81,510.4543.3154.0376.912.4
Liberia1,902.511.024.9220.0130.090.0
Madagascar78.875.275.2
Malawi39.0
Mali68.5
Mauritania64.4
Mauritius14.0240.02,255.0270.01,985.0
Mozambique164.9206.984.5820.8460.3360.6
Namibia536.223.260.660.6
Niger20.015.0550.0550.0
Nigeria3,851.54,372.33,171.616,205.75,210.45,497.74,749.9747.8
Réunion44.327.2
Rwanda14.0284.913.6392.9392.9
Senegal348.1515.4
Sierra Leone44.4217.695.3
South Africa16,450.317,761.016,444.518,040.83,281.02,228.65,625.16,906.1
Sudan89.32,000.0
Tanzania398.01,078.4331.4898.2600.0250.048.2
Togo52.4
Uganda2,242.525.0225.8120.0120.0
Zambia533.0576.23,065.9
Zimbabwe57.5267.0380.0
Central and Eastern Europe95,287.8124,007.191,452.795,866.227,370.227,711.615,912.524,872.0
Albania405.3145.8168.4
Bosnia and Herzegovina70.592.06.2138.7132.26.5
Bulgaria360.0281.22,268.22,141.898.3251.51,792.0
Croatia2,602.04,376.94,213.04,186.01,485.8464.1243.21,993.0
Hungary5,390.411,289.22,646.58,020.93,850.8259.8514.93,395.5
Latvia374.5528.82,233.5
Lithuania3,023.61,666.42,442.4899.4860.438.9
Macedonia113.6357.361.532.932.9
Montenegro369.2287.015.9108.5108.5
Poland42,385.849,518.620,789.313,474.77,297.31,054.51,742.53,380.4
Romania3,241.713,469.96,181.96,763.71,759.9709.82,359.01,935.0
Serbia577.02,757.93,218.43,494.61,476.02,018.6
Turkey36,374.139,235.947,207.656,605.010,541.724,800.811,046.310,216.2
Commonwealth of Independent States106,090.4118,690.7138,358.1142,115.362,344.437,689.920,875.921,205.1
Armenia105.6143.631.0840.2840.2
Azerbaijan3,615.11,417.01,372.71,604.31,000.0446.3120.537.5
Belarus1,837.75,102.911,008.063.563.5
Kazakhstan5,979.63,751.68,707.210,121.81,653.47,784.8224.2459.4
Kyrgyzstan5.83.0
Moldova23.221.760.0
Mongolia11,228.6271.73,676.6463.582.0381.5
Russia83,881.992,392.8100,516.9108,062.147,862.626,139.217,290.816,769.6
Tajikistan10.58.0
Turkmenistan500.24,225.0297.2297.2
Ukraine8,491.111,328.610,031.712,762.73,928.43,319.62,021.03,493.7
Uzbekistan411.225.02,954.07,900.07,900.0
Developing Asia248,634.2201,663.7223,110.2303,401.079,041.099,899.948,385.176,075.1
Bangladesh197.0228.01,686.6791.146.1345.0400.0
Bhutan47.4
Brunei Darussalam353.5170.0170.0
Cambodia65.0591.0155.8216.5156.060.5
China111,037.878,647.890,693.0159,111.435,156.149,046.928,428.046,480.4
Fiji250.21.11.1
India67,259.351,928.046,947.850,651.118,965.213,299.83,729.014,657.2
Indonesia24,755.428,711.429,765.332,609.07,830.613,121.26,105.75,551.4
Laos1,143.2120.0241.5293.650.4243.2
Macao SAR732.62,751.82,850.02,020.71,072.775.3272.7600.0
Malaysia12,690.410,775.418,300.413,382.65,306.74,297.62,436.81,341.6
Maldives2.016.0115.0115.0
Marshall Islands550.01,946.5497.9690.0330.0360.0
Myanmar2,400.0
Pakistan516.21,270.61,499.2222.81.5221.3
Papua New Guinea980.3222.0600.0600.0
Philippines12,556.58,168.19,438.014,915.94,849.05,505.52,440.72,120.7
Sri Lanka1,310.81,791.62,076.91,612.1196.3560.0755.8100.0
Thailand7,975.36,674.414,776.017,793.15,245.87,855.42,974.11,717.8
Vietnam5,397.16,826.53,590.38,205.1100.05,352.4882.31,870.3
Middle East and North Africa110,410.974,247.877,154.997,910.729,988.728,197.416,132.423,592.2
Algeria12.9188.0188.0
Bahrain5,666.32,513.03,439.72,957.5650.0815.81,491.7
Egypt16,541.08,788.13,628.25,153.140.04,543.7133.5436.0
Iran214.9419.0419.0
Iraq991.0831.8
Jordan1,479.01,860.0277.02,064.5608.01,456.5
Kuwait3,962.22,246.01,223.54,658.8266.7861.7911.72,618.7
Lebanon1,925.02,687.42,324.31,839.61,095.6744.0
Libya40.0
Morocco3,764.8318.03,509.31,455.0948.940.0466.2
Oman3,604.92,310.5994.21,240.3499.26.3350.0384.8
Qatar14,025.913,900.916,379.68,910.12,235.82,825.5180.03,668.8
Saudi Arabia17,766.79,627.012,576.618,994.83,420.96,836.45,297.13,440.4
Tunisia930.2997.71,586.7703.09.2378.4228.487.0
United Arab Emirates39,320.927,563.730,876.049,327.122,258.99,697.37,081.110,289.8
West Bank and Gaza50.3125.0
Yemen369.8563.7
Latin America and the Caribbean272,101.7192,036.5194,900.9230,210.054,567.453,460.867,179.555,002.4
Anguilla2.3
Antigua and Barbuda94.094.0
Argentina5,136.310,142.32,697.63,685.6688.7673.8725.51,597.5
Aruba253.0
Barbados403.3340.0400.0400.0
Bolivia253.0200.0500.0789.0489.0300.0
Brazil154,757.377,274.473,347.174,299.915,844.329,307.816,000.713,147.1
Chile12,541.617,444.722,714.929,626.79,756.95,015.13,689.311,165.4
Colombia5,519.316,500.111,885.116,628.75,184.81,968.54,174.45,301.0
Costa Rica31.0479.01,322.43,225.81,658.8500.01,067.0
Dominican Republic2,475.61,209.0900.01,822.4297.41,000.025.0500.0
Ecuador22.036.01,355.285.0625.0645.2
El Salvador644.1653.51,099.9418.5304.5114.0
Guadeloupe26.426.4
Guatemala604.0333.21,429.91,518.9690.8109.2718.9
Haiti26.526.5
Honduras1,000.0500.0500.0
Jamaica1,833.51,568.41,770.51,821.51,300.00.51.9519.1
Mexico44,990.438,804.160,006.674,952.013,848.97,872.335,921.817,309.0
Nicaragua185.0130.0130.0
Panama1,478.23,138.22,455.43,365.8508.01,303.0538.11,016.7
Paraguay100.0651.0500.0500.0
Peru9,323.94,841.510,460.310,923.24,815.93,011.91,784.71,310.7
Trinidad and Tobago93.5182.527.2716.2166.2550.0
Turks and Caicos Islands170.0
Uruguay3,323.8720.02,493.0215.8280.51,996.7
Venezuela31,807.715,635.82,320.0391.0391.0
Source: Dealogic.Note: For inclusion criteria, please see notes for Tables 5, 6, and 7.

Mongolia is not a member of the Commonwealth of Independent States, but it is included in this group for reasons of geography and similarities in economic structure.

Source: Dealogic.Note: For inclusion criteria, please see notes for Tables 5, 6, and 7.

Mongolia is not a member of the Commonwealth of Independent States, but it is included in this group for reasons of geography and similarities in economic structure.

Table 5.Emerging Market Private External Financing: Bonds(Millions of U.S. dollars)
2013
2010201120122013Q1Q2Q3Q4
Total253,377.8252,271.1363,653.5402,183.8115,391.5112,563.881,313.992,914.6
Sub-Saharan Africa4,673.18,113.19,306.313,923.81,565.7900.08,063.63,394.5
Angola1,000.0
Botswana79.7
Gabon1,593.01,593.0
Ghana993.6993.6
Mozambique810.3460.3350.0
Namibia490.6
Nigeria986.0350.02,553.9575.0298.41,282.6397.9
Rwanda392.9392.9
Senegal487.9
South Africa4,673.16,148.77,140.86,980.2390.7208.75,327.21,053.7
Tanzania600.0600.0
Zambia735.8
Central and Eastern Europe30,879.231,853.153,189.242,113.715,529.76,576.14,817.615,190.3
Albania405.3
Bulgaria1,343.31,225.31,225.3
Croatia1,238.82,748.43,104.03,408.41,485.8199.01,723.5
Hungary3,518.18,752.31,763.57,406.23,236.0259.8514.93,395.5
Latvia490.82,233.5
Lithuania2,710.11,495.72,214.4860.4860.4
Montenegro252.8252.5108.5108.5
Poland11,512.97,773.016,283.24,683.51,950.21,184.51,548.8
Romania1,418.42,106.15,182.54,162.41,484.41,974.6703.4
Serbia982.61,785.33,106.91,476.01,630.8
Turkey9,822.97,251.619,279.617,152.25,036.86,316.3944.54,854.6
Commonwealth of Independent States42,484.730,802.361,425.969,103.022,120.222,451.512,202.412,328.9
Armenia690.2690.2
Azerbaijan125.0500.01,093.31,000.093.3
Belarus1,327.3800.0
Kazakhstan4,840.51,072.93,242.74,902.7422.44,080.9399.4
Mongolia1174.02,979.0310.5310.5
Russia30,869.522,924.649,261.552,683.416,790.715,761.611,512.28,618.9
Ukraine5,273.45,879.85,442.89,423.03,907.12,515.83,000.0
Developing Asia46,560.759,911.083,335.9115,217.136,263.137,695.714,719.126,539.2
China18,058.631,580.739,906.470,987.516,450.823,673.08,858.022,005.7
Fiji250.0
India9,045.89,307.010,435.214,685.76,427.44,840.6648.32,769.4
Indonesia5,794.16,363.912,336.412,239.12,508.86,886.42,693.9150.0
Laos143.650.493.2
Macao SAR592.0354.2825.01,600.01,000.0600.0
Malaysia2,638.54,170.78,929.05,210.14,217.1700.0170.4122.5
Philippines6,400.04,175.63,769.53,653.52,208.91,045.399.2300.1
Sri Lanka1,000.01,000.01,500.01,350.0500.0750.0100.0
Thailand2,046.02,622.35,387.15,149.43,450.11,499.3200.0
Vietnam985.886.6247.5198.3198.3
Middle East and North Africa32,505.326,666.540,670.939,012.212,090.912,293.64,106.410,521.3
Bahrain2,460.51,050.02,343.62,187.4695.71,491.7
Egypt2,095.3500.04,236.440.04,196.4
Jordan741.61,250.01,250.0
Kuwait989.3446.7923.5323.4161.7161.7
Lebanon1,925.02,687.42,278.31,496.91,095.6401.4
Morocco1,340.11,479.61,045.7748.9296.8
Oman320.0846.5496.5350.0
Qatar8,743.55,087.710,508.86,064.21,324.91,495.53,243.8
Saudi Arabia2,586.43,800.05,739.62,000.01,447.6995.61,296.4
Tunisia1,288.4228.4228.4
United Arab Emirates11,303.816,894.718,048.715,593.78,229.52,452.31,229.13,682.8
Latin America and the Caribbean96,274.894,925.2115,725.3122,814.027,821.932,647.037,404.824,940.4
Argentina4,122.42,552.81,111.21,550.1298.0200.0554.5497.5
Aruba253.0
Barbados403.3250.0400.0400.0
Bolivia500.0489.0489.0
Brazil40,513.338,988.551,539.539,069.78,491.316,772.97,920.35,885.3
Chile7,522.35,795.89,631.612,036.33,097.53,198.52,187.53,552.8
Colombia1,939.86,374.37,342.510,191.73,289.81,089.14,058.91,753.8
Costa Rica250.01,262.42,983.81,491.8500.0992.0
Dominican Republic750.0777.6550.01,797.4297.41,000.0500.0
El Salvador444.1653.5799.9304.5304.5
Guatemala1,389.91,293.9690.8109.2493.9
Honduras1,000.0500.0500.0
Jamaica1,083.3695.21,750.01,815.01,300.0515.0
Mexico26,733.720,537.931,424.439,376.46,121.25,100.719,441.88,712.7
Panama1,045.8797.81,388.6750.099.0539.6
Paraguay100.0500.0500.0500.0
Peru6,466.32,394.76,123.15,977.72,837.92,534.9157.1447.8
Trinidad and Tobago175.0550.0550.0
Turks and Caicos Islands170.0
Uruguay1,969.8500.02,090.093.41,996.7
Venezuela6,296.512,444.2
Source: Dealogic.Note: Search criteria are by deal nationality and filtered by international tranche and exclude money market and short-term bonds and supranationals. Deal inclusion conforms to the vendor’s criteria for external public and private sector syndicated gross issuance, generally excluding bilateral deals.

Mongolia is not a member of the Commonwealth of Independent States, but it is included in this group for reasons of geography and similarities in economic structure.

Source: Dealogic.Note: Search criteria are by deal nationality and filtered by international tranche and exclude money market and short-term bonds and supranationals. Deal inclusion conforms to the vendor’s criteria for external public and private sector syndicated gross issuance, generally excluding bilateral deals.

Mongolia is not a member of the Commonwealth of Independent States, but it is included in this group for reasons of geography and similarities in economic structure.

Table 6.Emerging Market Private External Financing: Equity(Millions of U.S. dollars)
2013
2010201120122013Q1Q2Q3Q4
Total246,955.6102,642.5118,703.9126,620.039,739.532,925.316,776.137,179.2
Sub-Saharan Africa3,699.62,810.53,440.74,369.0880.01,063.1397.92,028.1
Ghana45.5
Kenya37.930.2
Madagascar78.875.275.2
Mauritius14.0
Mozambique10.610.6
Niger20.0
Nigeria140.3219.9782.6189.5393.2100.099.9
Rwanda90.9
South Africa3,411.52,572.83,119.33,452.5615.3669.8297.91,869.4
Tanzania23.748.248.2
Togo2.4
Uganda3.565.8
Zambia71.23.1
Central and Eastern Europe10,452.85,980.96,986.310,220.04,641.8986.4113.74,478.1
Bulgaria18.41.6
Hungary14.7134.7134.7
Lithuania209.730.238.938.9
Poland8,827.64,865.32,911.26,272.54,507.1333.81,431.7
Romania76.31,000.3167.887.4745.0
Turkey1,445.61,082.53,967.02,773.6445.926.22,301.4
Commonwealth of Independent States9,663.711,517.410,083.210,019.91,653.94,418.7864.33,083.0
Armenia11.6
Kazakhstan309.21.3593.6
Kyrgyzstan5.8
Mongolia1683.581.6
Russia8,005.011,137.09,400.69,961.11,637.64,400.2840.33,083.0
Ukraine660.1367.57.458.816.318.524.0
Developing Asia120,585.951,235.067,908.160,599.519,101.214,047.48,389.219,061.7
Bangladesh86.0
Cambodia155.8156.0156.0
China74,966.231,816.530,993.536,253.39,060.45,745.06,290.615,157.4
Macao SAR140.62,397.62,025.0420.772.775.3272.7
Fiji0.21.11.1
India26,200.88,409.514,476.68,626.15,393.01,953.1260.81,019.2
Indonesia8,066.63,259.43,581.83,536.21,837.01,299.2314.885.2
Laos111.2241.5150.0150.0
Malaysia6,930.52,644.17,315.62,799.3507.51,182.2163.2946.4
Maldives16.0
Pakistan2.81.51.3
Philippines1,783.31,047.12,721.35,372.41,019.12,131.6926.11,295.7
Sri Lanka5.6
Thailand2,379.01,514.76,381.03,212.01,054.11,661.2161.1335.7
Vietnam2.160.069.769.7
Middle East and North Africa4,466.7414.75,296.83,109.7370.0544.11,331.5864.0
Bahrain1,585.4
Egypt1,095.3133.5133.5
Iran419.0419.0
Iraq8.5
Morocco20.813.0169.3169.3
Oman474.863.9357.2181.82.76.3138.034.8
Qatar137.52,073.6260.9260.9
Saudi Arabia720.8105.62,384.8269.297.228.0144.0
Tunisia175.7251.29.2155.087.0
United Arab Emirates206.2223.7481.31,424.8354.8641.1428.9
West Bank and Gaza50.3
Latin America and the Caribbean98,056.930,684.124,988.838,302.013,092.711,865.55,679.57,664.3
Anguilla2.3
Argentina109.74,978.060.2127.9127.9
Brazil94,356.714,339.48,650.614,457.73,114.28,301.9850.92,190.7
Chile1,309.75,252.94,319.38,972.75,302.9436.3736.02,497.5
Colombia295.55,307.22,461.51,957.4879.41,078.0
Jamaica6.50.51.94.1
Mexico1,692.7765.38,705.112,081.34,518.32,247.33,494.41,821.2
Panama103.041.3
Peru187.4792.2532.429.5430.172.9
Trinidad and Tobago166.2166.2
Source: Dealogic.Note: Search criteria are by issuer nationality and filters by initial and follow-up offerings and international tranche. Deal inclusion conforms to the vendor’s criteria for external public and private sector syndicated gross issuance, generally excluding bilateral deals.

Mongolia is not a member of the Commonwealth of Independent States, but is included in this group for reasons of geography and similarities in economic structure.

Source: Dealogic.Note: Search criteria are by issuer nationality and filters by initial and follow-up offerings and international tranche. Deal inclusion conforms to the vendor’s criteria for external public and private sector syndicated gross issuance, generally excluding bilateral deals.

Mongolia is not a member of the Commonwealth of Independent States, but is included in this group for reasons of geography and similarities in economic structure.

Table 7.Emerging Market Private External Financing: Loans(Millions of U.S. dollars)
2013
2010201120122013Q1Q2Q3Q4
Total368,770.2395,600.5286,655.5392,289.4110,991.4112,102.285,203.983,991.8
Sub-Saharan Africa28,206.028,944.739,289.133,297.110,365.18,668.76,347.07,916.3
Angola4,391.23,110.72,847.94,996.22,500.01,241.71,014.8239.8
Botswana825.0255.0
Burkina Faso10.9249.4111.9137.6
Burundi15.069.5157.6
Cameroon239.6492.191.091.0
Cape Verde78.710.0
Chad14.7537.0537.0
Congo250.0
Congo, Democratic Republic of the12.2169.9100.0
Côte d’Ivoire97.0930.9152.6523.0163.060.0300.0
Djibouti1.2
Equatorial Guinea390.0600.0
Ethiopia1,342.81,694.31,497.817.017.0
Gabon500.2197.5493.8511.5300.0211.5
Ghana2,067.76,051.88,710.11,795.6163.744.11,447.9140.0
Guinea34.8198.9100.0100.0
Kenya703.4622.81,480.2543.3154.0376.912.4
Liberia1,902.511.024.9220.0130.090.0
Malawi39.0
Mali68.5
Mauritania64.4
Mauritius240.02,255.0270.01,985.0
Mozambique164.9206.984.5
Namibia45.623.260.660.6
Niger15.0550.0550.0
Nigeria3,711.23,386.32,601.812,869.34,445.94,806.03,367.4250.0
Réunion44.327.2
Rwanda14.0194.013.6
Senegal348.127.5
Sierra Leone44.4217.695.3
South Africa8,365.79,039.66,184.47,608.12,275.01,350.13,983.0
Sudan89.32,000.0
Tanzania398.01,054.7331.4250.0250.0
Togo50.0
Uganda2,239.025.0160.0120.0120.0
Zambia533.0505.02,327.0
Zimbabwe57.5267.0380.0
Central and Eastern Europe53,925.886,173.131,277.243,532.67,198.820,149.110,981.25,203.6
Albania145.8168.4
Bosnia and Herzegovina70.592.06.2138.7132.26.5
Bulgaria360.0262.8923.4916.598.3251.5566.7
Croatia1,363.31,628.51,109.0777.7464.144.2269.4
Hungary1,872.32,522.3883.0480.0480.0
Latvia374.538.0
Lithuania103.8170.8197.7
Macedonia113.6357.361.532.932.9
Montenegro116.534.515.9
Poland22,045.336,880.31,594.92,518.8840.1720.7558.0400.0
Romania1,823.311,363.8923.11,601.0275.5541.9296.9486.6
Serbia577.01,775.31,433.1387.7387.7
Turkey25,105.630,901.823,960.936,679.35,504.918,038.710,075.53,060.2
Commonwealth of Independent States53,942.076,371.166,848.962,992.538,570.410,819.67,809.15,793.3
Armenia105.6132.031.0150.0150.0
Azerbaijan3,615.11,292.0872.7511.0353.0120.537.5
Belarus510.54,302.911,008.063.563.5
Kazakhstan829.92,677.44,871.05,219.11,231.03,703.9224.260.0
Kyrgyzstan3.0
Moldova23.221.760.0
Mongolia1371.0271.7616.0153.082.071.0
Russia45,007.458,331.241,854.845,417.729,434.45,977.44,938.25,067.7
Tajikistan10.58.0
Turkmenistan500.24,225.0297.2297.2
Ukraine2,557.65,081.24,581.53,281.05.0785.31,997.0493.7
Uzbekistan411.225.02,954.07,900.07,900.0
Developing Asia81,487.690,517.771,866.3127,584.523,676.648,156.725,276.930,474.2
Bangladesh197.0142.01,686.6791.146.1345.0400.0
Bhutan47.4
Brunei Darussalam353.5170.0170.0
Cambodia65.0591.060.560.5
China18,013.015,250.719,793.151,870.69,644.919,629.013,279.49,317.3
India32,012.734,211.522,036.027,339.47,144.96,506.12,819.910,868.6
Indonesia10,894.819,088.213,847.116,833.73,484.84,935.63,097.05,316.2
Laos1,032.0120.0
Malaysia3,121.43,960.52,055.85,373.2582.02,415.42,103.1272.7
Maldives2.0115.0115.0
Marshall Islands550.01,946.5497.9690.0330.0360.0
Myanmar2,400.0
Pakistan516.21,270.61,499.2220.0220.0
Papua New Guinea980.3222.0600.0600.0
Philippines4,373.22,945.42,947.25,890.11,621.02,328.61,415.5525.0
Sri Lanka305.2791.6576.9262.1196.360.05.8
Thailand3,550.42,537.53,008.09,431.7741.66,194.21,313.71,182.1
Vietnam4,409.36,680.03,342.87,937.1100.05,352.4882.31,602.4
Middle East and North Africa73,438.947,166.631,187.255,788.917,527.715,359.710,694.512,206.9
Algeria12.9188.0188.0
Bahrain1,620.41,463.01,096.1770.1650.0120.1
Egypt13,350.48,288.13,628.2783.2347.2436.0
Iran214.9
Iraq991.0823.3
Jordan737.41,860.0277.0814.5608.0206.5
Kuwait2,972.91,799.3300.04,335.4266.7700.0750.02,618.7
Lebanon46.0342.7342.7
Libya40.0
Morocco2,403.9305.02,029.7240.0200.040.0
Oman2,810.12,246.6637.0212.0212.0
Qatar5,145.08,813.33,797.22,585.0650.01,330.0180.0425.0
Saudi Arabia14,459.69,521.46,391.812,986.11,323.75,360.84,301.52,000.0
Tunisia754.5997.7298.3223.4223.4
United Arab Emirates27,811.010,445.212,346.032,308.614,029.46,890.25,211.06,178.1
West Bank and Gaza125.0
Yemen369.8563.7
Latin America and the Caribbean77,770.066,427.254,186.769,094.013,652.98,948.324,095.222,397.6
Antigua and Barbuda94.094.0
Argentina904.32,611.61,526.22,007.6262.8473.8171.01,100.0
Barbados90.0
Bolivia253.0200.0300.0300.0
Brazil19,887.323,946.513,156.920,772.54,238.84,232.97,229.55,071.2
Chile3,709.56,396.08,764.08,617.81,356.51,380.3765.85,115.2
Colombia3,284.04,818.62,081.24,479.71,895.0115.52,469.2
Costa Rica31.0229.060.0242.0167.075.0
Dominican Republic1,725.6431.4350.025.025.0
Ecuador22.036.01,355.285.0625.0645.2
El Salvador200.0300.0114.0114.0
Guadeloupe26.426.4
Guatemala604.0333.240.0225.0225.0
Haiti26.526.5
Jamaica750.2873.220.5
Mexico16,564.117,500.919,877.123,494.33,209.4524.312,985.66,775.1
Nicaragua185.0130.0130.0
Panama1,375.12,051.11,657.61,977.1508.0553.0439.1477.0
Paraguay151.0
Peru2,670.32,446.83,545.04,413.01,948.5477.01,197.5790.0
Trinidad and Tobago93.57.527.2
Uruguay1,354.0220.0402.9122.4280.5
Venezuela25,511.23,191.62,320.0391.0391.0
Source: Dealogic.Note: Search criteria are by deal nationality and filters by hard currency. Deal inclusion conforms to the vendor’s criteria for external public and private sector syndicated gross lending on a committed basis, which may or may not be fully disbursed and generally excludes bilateral deals.

Mongolia is not a member of the Commonwealth of Independent States, but is included in this group for reasons of geography and similarities in economic structure.

Source: Dealogic.Note: Search criteria are by deal nationality and filters by hard currency. Deal inclusion conforms to the vendor’s criteria for external public and private sector syndicated gross lending on a committed basis, which may or may not be fully disbursed and generally excludes bilateral deals.

Mongolia is not a member of the Commonwealth of Independent States, but is included in this group for reasons of geography and similarities in economic structure.

Table 8.Equity Valuation Measures: Dividend-Yield Ratios
201310-year

average
20092010201120122013Q1Q2Q3Q4
Emerging Markets2.02.13.02.72.62.72.82.92.62.6
Asia1.72.02.82.32.32.32.42.52.32.4
Europe/Middle East/Africa2.22.13.23.53.23.53.53.73.22.7
Latin America2.72.33.33.23.03.23.23.53.02.9
Argentina1.11.98.45.61.55.65.45.81.53.3
Brazil2.92.74.14.13.84.14.14.73.83.5
Chile1.61.42.32.12.22.12.11.92.22.1
China1.92.23.22.93.12.93.13.53.12.4
Colombia2.82.12.62.93.22.93.03.23.22.6
Egypt4.83.55.33.52.23.53.13.32.23.4
Hungary1.31.62.43.52.63.53.53.62.62.4
India0.90.91.51.31.41.31.41.41.41.3
Indonesia1.92.22.42.42.72.42.22.42.72.8
Jordan3.12.53.14.34.44.34.74.84.42.8
Malaysia2.42.32.82.92.82.92.92.92.82.7
Mexico2.41.61.21.41.51.41.51.51.51.8
Morocco4.94.35.54.74.54.74.84.54.53.9
Pakistan6.45.68.37.16.37.17.67.06.36.5
Philippines2.22.42.72.01.92.01.61.81.92.4
Poland3.02.55.45.64.65.65.96.14.63.7
Russia1.41.52.43.63.53.63.83.93.52.2
South Africa2.72.33.23.22.93.23.23.22.93.0
Sri Lanka1.61.22.22.22.22.22.12.12.22.6
Thailand2.92.63.32.83.32.82.82.93.33.4
Turkey2.12.23.32.22.72.21.82.32.72.9
Source: Morgan Stanley Capital International (MSCI).Note: The country and regional classifications used in this table follow the conventions of MSCI and do not necessarily conform to IMF country classifications or regional groupings.
Source: Morgan Stanley Capital International (MSCI).Note: The country and regional classifications used in this table follow the conventions of MSCI and do not necessarily conform to IMF country classifications or regional groupings.
Table 9.Equity Valuation Measures: Price/Earnings Ratios
201310-year

average
20092010201120122013Q1Q2Q3Q4
Emerging Markets20.614.610.812.712.112.712.511.812.113.8
Asia24.315.211.413.212.313.213.112.112.314.7
Europe/Middle East/Africa16.212.18.29.29.29.28.88.59.212.3
Latin America18.315.911.816.416.016.416.115.816.014.0
Argentina8.08.85.23.36.33.33.83.96.318.2
Brazil17.013.89.814.313.414.313.813.513.412.2
Chile18.721.417.223.221.023.223.925.621.021.3
China21.114.69.411.310.011.310.79.210.015.0
Colombia25.123.517.219.318.019.319.318.418.019.7
Egypt13.917.410.313.822.713.813.617.222.716.1
Hungary14.212.28.713.712.313.710.412.612.311.5
India21.822.414.416.317.116.315.415.417.118.6
Indonesia16.419.015.216.214.616.218.717.714.615.3
Jordan15.921.316.911.614.511.612.313.014.522.5
Malaysia20.318.116.914.817.514.815.516.617.516.3
Mexico22.723.921.821.522.921.521.220.922.917.9
Morocco14.317.514.012.313.812.312.511.613.820.2
Pakistan10.19.16.27.610.47.67.88.910.49.6
Philippines19.117.515.819.918.819.922.420.618.816.8
Poland19.314.18.08.712.88.79.610.212.813.0
Russia15.68.34.95.65.25.65.14.95.29.9
South Africa16.618.916.415.918.715.916.416.418.715.5
Sri Lanka77.720.513.214.114.914.115.214.614.919.2
Thailand19.314.811.115.912.815.915.115.012.812.9
Turkey12.610.89.212.08.712.012.510.58.711.2
Source: Morgan Stanley Capital International (MSCI).Note: The country and regional classifications used in this table follow the conventions of MSCI and do not necessarily conform to IMF country classifications or regional groupings.
Source: Morgan Stanley Capital International (MSCI).Note: The country and regional classifications used in this table follow the conventions of MSCI and do not necessarily conform to IMF country classifications or regional groupings.
Table 10.Emerging Markets: Mutual Funds
Net Flows
(Billions of U.S. dollars)
2013
2010201120122013Q1Q2Q3Q4
Bonds53.315.958.8−25.121.2−9.2−19.5−17.6
Global46.513.647.1−19.518.2−8.0−15.8−13.9
Asia6.62.60.8−2.42.9−0.6−2.7−2.0
Europe/Middle East/Africa−0.2−1.0−0.40.50.30.6−0.2−0.2
Latin America0.40.80.7−3.7−0.3−1.2−0.7−1.5
Equities95.7−46.252.3−25.129.8−31.9−13.6−11.0
Global63.6−4.633.8−19.523.3−10.71.1−3.5
Asia22.1−23.7−6.2−2.48.8−14.5−10.0−1.4
Europe/Middle East/Africa7.3−7.0−1.70.5−1.5−2.6−1.6−1.9
Latin America2.6−10.9−1.5−3.7−0.7−4.0−3.1−4.1
Net Asset Values

(Billions of U.S. dollars)
2013
2010201120122013Q1Q2Q3Q4
Bonds162.0183.3301.8326.2349.0343.0336.8326.2
Global141.9157.3264.7265.5291.7287.6277.9265.5
Asia14.520.028.730.332.532.630.830.3
Europe/Middle East/Africa3.23.04.56.05.35.76.26.0
Latin America2.42.94.024.519.617.121.924.5
Equities950.2774.11016.91071.21057.0989.71055.31071.2
Global476.8416.4562.4580.1582.9535.2569.8580.1
Asia329.7262.6343.9385.1361.4344.7372.8385.1
Europe/Middle East/Africa62.640.152.255.353.153.457.155.3
Latin America81.155.058.450.759.656.455.750.7
Source: EPFR Global.Note: Flows data derive from both tradtional and alternative funds domiciled globally with $23.5 trillion in assets. The country and regional classifications used in this table follow the conventions of Emerging Portfolio Fund Research and individual fund managers and do not necessarily conform to IMF country classifications or regional groupings.
Source: EPFR Global.Note: Flows data derive from both tradtional and alternative funds domiciled globally with $23.5 trillion in assets. The country and regional classifications used in this table follow the conventions of Emerging Portfolio Fund Research and individual fund managers and do not necessarily conform to IMF country classifications or regional groupings.

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