Industrial production in the BRIC countries 2000 - 2015
Growth, stagnation and setback of industrial production in BRIC countries are closely connected
Update March 21st, 2016 - The industrial production in Brazil, Russia, India and China, the so-called BRIC countries, shows the well-known continuous and dynamic growth by 2008.
To put it a bit simplified, the industrial production of the BRIC countries since the year 2000 developed similarly like in the industrialized countries from 1980 to 2000:
First of all a continuous growth, even still more dynamic than in the industrialized countries.
Secondly a crisis-laden decrease of the industrial production was again caught up after two years.
The world economic crisis 2008/2009 affected the BRIC countries differently:
- China's industrial production continued to grow dynamically even during the economic crisis.
- India could hold its industrial production in 2009, increased clearly 2010 and has been growing since then.
- The crisis low in Brazil's industrial production was already exceeded after one year, however, growth of industrial production merged into stagnation until 2013 that has been intensifying to a setback since then.
- Russia too overcame the world economic crisis with two years growing further until 2014. However, in 2015 industrial production declined clearly.
From this follows:
The unified growth of the BRIC countries ended with the last world economic crisis. Industrial production in China and India is further growing by 2015. In Brazil and Russia growth has been replacing by stagnation and setback since 2010.
The BRIC countries as engine of the export from industrialized countries that played a crucial role in the world economic crisis has been limited meanwhile on the growth in China and India.