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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
In Q3 2021, China’s construction sector saw 6.5% y/y growth in total sector gross output value, amounting to RMB 7.1tn. As the government exercises caution about the ongoing global pandemic, domestic construction activities remain a crucial ...
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In Q3 2021, the sales revenue of China’s chemical sector experienced steady growth, driven by the increased market demand and the fast price rise of most chemical products. Besides benefitting from the higher prices—which greatly enhanced ...
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China’s automotive sector experienced a further decline in production and sales in Q3 2021—caused by shortages in car chips, which led manufacturers to curtail automotive production. Meanwhile, the costs of raw materials (including ...
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Poland’s insignificant oil and modest gas reserves mean the country is heavily reliant on imports to meet the ever-growing demand. Polish production of crude oil accounted for only 3.6% of demand from refineries in 2020. Domestic production of ...
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While even before the pandemic, information and communication was one of the best-performing sectors of the Indonesian economy, in 2020 its real GVA registered a 10.6% y/y growth amid a 2.1% y/y decline of the real GDP. Its value reached IDR 695.8tn, ...
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The textile sector is one of the oldest industries of India. The textile industry ranges from traditional hand weaving to technical textiles and modern textiles mills. India is the third-largest exporter of textile, with a 4.5% share in the world ...
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In 2020, Colombia’s agriculture, livestock, forestry, hunting and fisheries sector increased its share in overall GDP to 7.6%, from 6.4% in 2019. Between 2015 and 2020, the sector’s GVA rose at a CAGR of 3.2% in real terms. ...
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The banking sector was in the spotlight in 2020. To avoid a more profound collapse in economic activity due to the 2020 COVID-19 crisis, the Brazilian government issued several emergency measures that increased liquidity, while the central bank ...
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In 2020, Turkey’s insurance sector continued growing in double digits in line with the country’s positive economic development. The industry reported a compound annual growth rate (CAGR) of 21.8% in the five years to 2020, driven mainly ...
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In spite of its long decline in domestic production, Mexico is one of the leading players in the global hydrocarbons industry. The country is among the top 20 producers of crude oil and is one of the largest exporters of the input. The ...
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