Emerging Markets 2009-10

http://edition.cnn.com/BUSINESS/specials/global-exchange/index.html?&hpt=hp_c2

% GDP growth 2009-10:

Mexico - 5.4%

Mexico has a free-market, export-led economy accounting for 12% of all imports into the U.S. The country's major industries include tourism, food and the production of motor vehicles. Falling global demand led annual growth to contract by 6.1% in 2009 before rebounding to grow 5.4% in 2010. A further lapse in global demand is expected to slow Mexico's economic growth to 3.6% in 2011.

Colombia - 4.3%

Colombia is South America's second most populated country, with 44 million people. Its economy is primarily export led and it is a major producer of oil, coffee and emeralds. Exposure to the fluctuations of the global markets drove growth into the low single digits after the U.S. and European recessions, before rebounding in 2010. The country's economic growth is expected to hit 5.1% in 2011.

Brazil - 7.5%

Brazil is South America's powerhouse, dwarfing the economies of other nations on the continent. Its agriculture, mining and manufacturing sectors contribute to economic growth hitting 7.49% in 2010, although this is expected to drop to 3.6% in 2011 in part due to slowing global demand. It is currently led by President Dilma Rousseff, the country's first female leader, who is carrying on a poverty reduction program initiated by her predecessor, Luiz Inacio Lula da Silva.

Argentina - 9.2%

Argentina's economy collapsed in 2001 after it defaulted on its debts, leading to one of the most volatile periods in the country's history. Economic progress has since grown steadily, under the guidance of the late president Nestor Kirchner and his successor and wife Cristina Fernandez. The country's rich natural resources fed growth of between 8% and 9% in recent years, with the economy expected to grow by 7% in 2011.

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Nigeria - 8.7%

Nigeria, with its population of more than 155 million people, is Africa's most populous nation. It has faced significant problems with corruption and ethnic tensions, which have dragged on its economic progress. Goodluck Jonathan won the election earlier in 2011, and is under pressure to implement change on issues such as unemployment and corruption. The country's economy, driven by oil, is set to grow by 8.5% in 2011.

South Africa - 2.8%

South Africa emerged from its apartheid regime in 1994, when the first multi-racial elections delivered power to Nelson Mandela's African National Congress party. While the transition was difficult, the country's infrastructure is modern and its economy developed. It has won recognition as one of the 'BRIC' nations, originally made up of Brazil, Russia, India and China, which are eyed as those with the greatest growth potential. South Africa's economy is expected to grow by 3.4% in 2011.

Kenya - 5.6%

Kenya, with its population of just over 41 million, has acted as a trade hub in the African region, but has faced problems with corruption. Its last elections were marred by violence, and it has suffered through the financial crisis in part due to remittance payments dropping. It is tracking toward growth of 5.8% in 2011, after slumping through 2008 and 2009.

Egypt - 5.1%

Egypt is still emerging from an Arab Spring revolution which toppled its long time president, Hosni Mubarak, in February. The revolution has not delivered changes as fast as protesters hoped, and the country remains unstable. Its economy, which feeds off exports and tourism - the country's famous pyramids long being a draw for visitors - is expected to grow by just 1.4% in 2011.

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Saudi Arabia - 4.1%

Saudi Arabia, a deeply Muslim country, has a population of just over 26 million and is ruled by an absolute monarchy. Its economy is based on petroleum, accounting for a huge 90% of its export income. The government is trying to diversify the economy into sectors such as telecommunications, and it is expected to grow by 6.6% in 2011.

India - 10.1%

India, made up of 1.2 billion people, has accelerated its growth in recent years, and is likely to clock up 7.7% in 2011. The services industry has become a major driver in its economy, and is now much more valuable than its more traditional manufacturing and agriculture sectors.

Sri Lanka - 8%

Sri Lanka, an island nation with a population of just over 21 million, struggled with more than two decades of conflict with the Tamil separatist group before a ceasefire was signed in 2002. The country's infrastructure has since undergone rebuilding and its economy, which is based on services, has begun to recover. Its growth is expected to be 8% in 2011.

Pakistan - 3.8%

Impoverished Pakistan has come under intense international scrutiny. Its ties with the U.S. have become increasingly strained since Osama bin Laden was found living outside Islamabad in May 2011. It maintains a tense relationship with India and struggles with internal insurgency and border disputes. The country's economy, based on textiles, manufacturing and services, has continued to grow despite the conflicts, but it is expected to slow in 2011 to 2.4%, from 4.1% in 2010.

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China - 10.3%

China, Asia's powerhouse, is being leaned on to lead the world back to prosperity as the U.S. and eurozone struggle with huge debt burdens. The communist state has broadened its global economic reach under premier Wen Jiabao. Its economy is now focused on industry and is expected to grow by 9.3% in 2011.

Vietnam - 6.8%

Vietnam emerged from the Vietnam War in 1975, and has slowly returned to prosperity. The country, which remains a communist state, is now heading toward growth of 5.8% for 2011 as it diversifies from its agricultural base into manufacturing exports and tourism.

Taiwan - 10.9%

Taiwan, an island nation of 23 million people who are largely Buddhist and Taoist, has an open, export-led economy which is driven by electronics and machinery. It is known as one of the East Asia economic tigers, with growth booming in 2010 to more than 10%, but expected to settle back to 4.6% in 2011.

Indonesia - 6.1%

Indonesia, a southeast Asia archipelago, has stabilized since it signed a historic peace agreement with separatists in Aceh. Indonesia has a strong domestic economy, based around agriculture and services, but it has also been attracting billions in foreign investment in recent years, pushing its expected growth for 2011 to 6.5%.

Malaysia - 7.2%

Malaysia, a constitutional monarchy, has diversified its economy, shifting from a raw materials exporter to one which supplies manufacturing and services. It is also a tourism destination, which has helped drive its economy toward an expected 4.2% of growth in 2011.

South Korea - 6.2%

South Korea, officially the Republic of Korea, has faced increased tension with its communist neighbor, North Korea, in recent years. However, President Lee Myung-bak has been engaged with global partners and the country, which has an export economy based on electronics, is expected to grow steadily. Its GDP growth is expected to hit 3.5% in 2011.

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Russia - 4%

Russia's economy has undergone dramatic change since the Soviet Union collapsed in the early 1990s. The economy subsequently underwent reforms including extensive privatization. Its economy is based on commodities including natural gases and oil, but the government has been attempting to wean itself off the industry by promoting sectors including high technology. Russia -- which defaulted on its debts in 1998 -- has been severely impacted by the financial crisis. After consistently strong growth following its default, Russia's economy slumped. It is expected to grow by 4.3% in 2011.

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