Latest Reports

BMI’s Thailand Tourism report examines the strong potential for growth offered by the Thai tourism market. The country’s increasing domestic economic strength, combined with regional economic growth and a well developed infrastructure investment programme all point towards solid long term …

BMI View: Thailand will maintain its status as a key Asian agricultural provider in the coming years, as the sector benefits from strong export opportunities and government support as well as an efficient foodproducing industry. The sugar and livestock sectors …

The South Korea Real Estate report examines the commercial office, retail, industrial and construction segments in the context of a slowing economy vulnerable to international macroeconomic headwinds and an infrastructure sector that is not living up to its potential. With …

BMI View: Business confidence was largely downbeat in the first half of 2013. We expect this to restrain IT spending among businesses wary of the continued uncertainty over the health and of the global and local economy in South Africa. …

BMI View: We hold a positive view on the South African agricultural sector and see particular growth potential in the grain and livestock sectors. Both sectors’ growth will be boosted by regional export demand. The sugar sector also presents interesting …

BMI View: Saudi Arabia’s construction sector is experiencing a boom period driven by all sectors of the infrastructure and non-residential building industries. Over the near term we have revised up our growth outlook for the construction sector, driven by continued …

Executive Summary As of Q313, Russia is continuing to procure new equipment and to gradually professionalise its army. One of the most ambitious procurement programmes is occurring in the country’s air force, which is purchasing hundreds of new warplanes, special …

BMI View: There is currently a great deal of uncertainty surrounding the future of Romanian petrochemicals producer Oltchim following the decision to file for insolvency in January 2013 after an attempt to privatise the firm failed. Nevertheless, the relatively strong …

BMI’s Romania Defence and Security Report report examines the transition of Romania’s defence posture as a former Warsaw Pact nation into an active participant in NATO. However, as the report will conclude, although Romania has aspirations to become a full …

BMI View: Regulatory uncertainty overshadows Poland’s power sector – with many question marks over the future direction of the energy-generating mix. This quarter sees leading utility PGE cancel plans for a two coal-fired power units at its Opole power plant, …

Recovery Will Take Its Time Since our last quarterly report, we have become a little gloomier about Poland’s immediate economic outlook. The main reason for this is that private consumption is still in the doldrums, weighed down by high unemployment. …

BMI View: As expected, conditions that are ideal for construction activity – conducive monetary environment and robust government spending – continue to flourish in 2013 as the Philippine economy continues to hit a sweet spot of strong economic growth and …

BMI View: Problems that plague Pakistan’s power sector are unlikely to diminish even as the caretaker government has agreed in principle to reform the sector as conditions under the IMF bailout dictates. The latest nationwide blackout on February 24 highlights …

BMI View: Newly revised data shows how delays in projects have weighed on growth over recent years. However, 2012 appears to have been a turning point and we are therefore maintaining our positive outlook for the construction sector growth in …

Executive Summary Sales in Mexico increased 9.0% year-on-year )y-o-y) over the first four months of the year, to 330,756 units. BMI forecasts Mexico’s passenger car sales to increase 6.6% in 2013, a slowdown from the 9.8% growth seen in 2012. …

Growth To Fall In Election Year We have again raised the number for Malaysian economic growth last year, but we still expect something of a slowdown in 2013. After a strong fourth quarter, marked by resilient private consumption at home, …

BMI View: At the time of writing Malaysia was bracing itself for a potentially historic election in May 2013. While the ruling Barisan Nasional coalition, led by Prime Minister Najib Tun Razak and his United Malays National Organisation, looked likely …

BMI View: The earthquake in Japan in 2011 will have a significant bearing on the country’s metals industry for years to come. In the short term, the disruption halted production at several copper and aluminium refineries. It is also set …

BMI View: Our outlook for the Italian agribusiness sector has turned more bearish, as dry conditions in Europe, high operating costs and bleak economic prospects have taken a toll on the grains, dairy and livestock sectors. Our long-held view has …

BMI View: We remain optimistic towards the outlook for Indonesia’s construction sector in 2013 and have slightly revised up our real growth forecasts for the sector to 7.5% for the year (previously 7.2%). Besides favourable macroeconomic fundamentals, we expect conducive …

Despite the current gloom, we remain bullish on Indian auto sales going into FY2013/14. With Indian companies having run down their inventory in the past few months, there has already been an uptick in investment spending recently as inventories are …

BMI remains of the view that Hungary’s insurance sector will continue to face testing times through 2013 and 2014. A difficult economic environment and volatile financial markets will challenge the players in both the non-life and the life segments. Fortunately, …

BMI View: Hong Kong’s attractiveness as a pharmaceutical market hinges largely on its ageing and affluent demographics, its proximity to China as well as the stable political and economic environment. However we highlight that its long-term attractiveness is limited by …

In the first four months of 2013, passenger car sales in Germany declined 8.5% year-on-year (y-o-y), to 958,500 units. BMI forecasts a decrease of 10.0% in passenger car sales over the year. We maintain a bearish outlook for consumer sentiment …

Political uncertainty will continue to affect the Egyptian economy in 2013 as the country continues upon its rocky transitional period towards democracy. This uncertainty will, in turn, continue to affect the shipping sector as a worsening economic position will impact …