Resource use in the World Economy A preliminary assessment

Size: px
Start display at page:

Download "Resource use in the World Economy A preliminary assessment"

Transcription

1 Resource use in the World Economy A preliminary assessment Marina Fischer-Kowalski, Nina Eisenmenger, Fridolin Krausmann Institute of Social Ecology, Vienna

2 Now for the first time it is possible to present a comprehensive empirical assessment of global resource use, both materials and energy, on the basis of reasonably reliable and purely physical data and document longer time series. As far as materials are concerned, this is due to recent improvements in international statistics, such as: FAO (biomass), IEA (energy and fossil fuels), USGS (ores and minerals) and OECD (longer time series compiled by Maddison) as well as intensive efforts from the part of research institutions, in particular: The National Institute for Environmental Studies (NIES), Japan, the Sustainable Europe Institute (SERI), The Social Ecology Institute and the Wuppertal Institute. Several of these efforts were supported by EU FP5 und FP6 projects (such as MOSUS and MATISSE), but also by various national science funds Most of the data shown are novel, under publication, and should not (yet) be disclosed to third parties. Fischer-Kowalski UNEP Nov. 8 2

3 The big picture: levels and dynamics of energy and materials use worldwide 1. Metabolic scale 2. Metabolic rate 3. Decoupling Fischer-Kowalski UNEP Nov. 8 3

4 Definition: metabolic scale is the size of the overall annual material (DMC) or primary energy input (TPES, DEC) of a socio-economic system according to established standards of MEFA analysis. The metabolic scale of the world economy has been steadily increasing: From 2 billion tons in 196 to over 6 bio t in 25 (DE, materials extracted; on the global level = DMC) From 12 EJ primary energy in 196 to 44 EJ in 24 (TPES, biomass excluded) Fischer-Kowalski UNEP Nov. 8 4

5 Global metabolic scale Total Global DMC, billion tons Total Global TPES (commercial fuels), EJ Biomass Ores, ind. Minerals Fossil fuels Constr. Minerals Coal Oil Natural Gas Hydro Nuclear Geothermal Source: Krausmann et al. forthcoming, based on Krausmann et al. 28 (Biomass), Podobnik, IEA (Fossils), USGS (minerals) Fischer-Kowalski UNEP Nov. 8 5

6 Population and population dynamics One key factor in the increase of global metabolic scale seems to be human population dynamics. This is plausible from a theoretical point of view: a certain average personal material standard of living is linked to a certain level of resource use. Empirically, the metabolic scale of socio-economic systems corresponds closely to their population numbers. If we standardize metabolic scale by population, we arrive at metabolic rates. Fischer-Kowalski UNEP Nov. 8 6

7 Definition: Metabolic rate is the metabolic scale of a socio-economic system divided by its population number = annual material / energy use per capita The global metabolic rate: Has, after an initial rise following the Second World War to the early 197ies, remained fairly constant worldwide at about 8t/cap (DMC) and 6 GJ/cap (TPES) until the year 2 Despite quite substantial economic growth About the year 2, there seems to have started a new phase of growth with regard to metabolic rates Fischer-Kowalski UNEP Nov. 8 7

8 Global metabolic rates Global DMC, t/cap/yr (left axis) 6 4,5 9 Global TPES, GJ/cap/yr (left axis) ,5 - DMC GDP (const. 2 $) TPES GDP (const. 2 $) Source: Krausmann et al. forthcoming, based on Krausmann et al. 28 (Biomass), Podobnik, IEA (Fossils), USGS (minerals) Fischer-Kowalski UNEP Nov. 8 8

9 Global metabolic rates and global GDP/capita Global DMC, t/cap/yr (left axis) 6 4,5 9 Global TPES, GJ/cap/yr (left axis) Global GDP, $/cap*yr (right axis) 3 1,5 3 Global GDP, $/cap*yr (right axis) 2 - DMC GDP (const. 2 $) TPES GDP (const. 2 $) Source: Krausmann et al. forthcoming, based on Krausmann et al. 28 (Biomass), Podobnik, IEA (Fossils), USGS (minerals) Fischer-Kowalski UNEP Nov. 8 9

10 The level of the metabolic rate depends on development and transition patterns It is not as simple as often presupposed High income industrial countries = high metabolic rates Lower income developing countries = lower metabolic rates Because of (at least) 2 factors Resource endowment and role in the world economy (trade relations) Population density (infrastructures) Fischer-Kowalski UNEP Nov. 8 1

11 Metabolic rates by the development status and population density of countries DMC t/cap in yr Construction minerals Ores and industrial minerals Fossil fuels Biomass Share of world population High density industrial 13% Low density industrial 6% High density developing 62% Low density developing (NW) 6% Pop density Fischer-Kowalski UNEP Nov. 8 11

12 DMC per capita (in the year 2) Fischer-Kowalski UNEP Nov. 8 12

13 Cultural / price shocks may have a substantial and lasting impact Globally stable metabolic rates in the period appear to be a composite result of different trends in various world regions Stability in EU 15 and Japan (likely) decline in (ex) Soviet Union and Eastern Europe Rise in many developing countries Fischer-Kowalski UNEP Nov. 8 13

14 The limits to growth -shock: Global metabolic rates DEC (energy per capita use / capita by energy in GJ DEC) type GJ/cap Coal Oil Natural Gas Hydro Nuclear Geothermal Fischer-Kowalski UNEP Nov. 8 14

15 Metabolic rates (material) for selected industrial and developing countries Industrial countries Developing countries DMC t/cap*yr (left axis) DMC t/cap*yr (left axis) 3,5 3 2,5 2 1,5 1, EU15 DMC USA DMC Japan DMC EU15 EU15 GDP USA GDP Japan GDP Brazil DMC China DMC India DMC USA Japan Brazil China India Brazil GDP China GDP India GDP Fischer-Kowalski UNEP Nov. 8 15

16 Metabolic rates (energy) for selected industrial and developing countries Industrial countries Developing countries TPES GJ/cap*yr (left axis) TPES GJ/cap*yr (left axis) EU15 TPES USA TPES Japan TPES EU15 GDP USA GDP Japan GDP Brazil TPES China TPES India TPES EU15 USA Japan Brazil China India Brazil GDP China GDP India GDP Fischer-Kowalski UNEP Nov. 8 16

17 3. Decoupling Relative decoupling occurs when resource use increases at a slower pace than the economy. Rising resource productivity is a measure of relative decoupling. Definition: resource productivities (material productivity, MP; energy productivity, EP) of socio-economic systems are calculated as amount of income achieved (GDP) by one unit of resource use (1 t DMC, 1 GJ TPES). Thus, if income grows faster than resource use, resource productivity rises; if income grows slower, RP sinks. In mature industrial economies, resource productivity on the socio-economic system level typically rises by 1-2% annually. In developing countries, trends are very uneven, with RP rising or sinking. Fischer-Kowalski UNEP Nov. 8 17

18 Trends in material productivity (increase in %) Industrial countries Developing countries 3% MP=$ GDP / t DMC 3% MP=$ GDP / t DMC 25% 25% 141 2% % 15% % 19 1% % 5% 5% EU15 MP USA MP Japan MP EU15 USA Japan EU15 GDP USA GDP Japan GDP Brazil MP China MP India MP Brazil China India Brazil GDP China GDP India GDP Fischer-Kowalski UNEP Nov. 8 18

19 Longterm increase in economic energy productivity (19-25) Energy Efficiency ($ GDP / GJ primary energy DEC) Austria United Kingdom Japan Productivity increases: Average 11 % per decade, or roughly 1% annually. [$/GJ] Source: Social Ecology DB Fischer-Kowalski UNEP Nov. 8 19

20 Growth rates of economic resource productivity on the socio-economic system level rarely surpass growth rates of GDP. This probably relates to the fact that growth of resource productivity and growth of GDP mutually reinforce each other. Thus resource savings that occur because of increased resource productivity tend to be (over)compensated by accellerated economic growth. (Socalled rebound effect, see Dimitropoulos 27). In effect, cases of absolute decoupling on the socioeconomic system level are rare. Exceptions since 198: Japan (materials), Germany (materials and energy), UK (materials) Fischer-Kowalski UNEP Nov. 8 2

21 Trends in material productivity in relation to trends in GDP (% increase) Industrial countries Developing countries 3% MP=$ GDP / t DMC 3% MP=$ GDP / t DMC 25% 25% 2% 2% 15% 15% $ GDP 1% $ GDP 1% 5% 5% EU15 MP USA MP Japan MP EU15 USA Japan EU15 GDP USA GDP Japan GDP Brazil MP China MP India MP Brazil China India Brazil GDP China GDP India GDP Fischer-Kowalski UNEP Nov. 8 21

22 Trends in energy productivity in relation to trends in GDP (% increase) Industrial countries Developing countries 25% EP = $ GDP / EJ TPES 4% 35% EP = $ GDP / EJ TPES 2% 3% 15% 25% 2% $ GDP 1% $ GDP 15% 1% 5% EU15 EP USA EP Japan EP EU15 USA Japan EU15 GDP USA GDP Japan GDP 5% Brazil EP China EP India EP Brazil China India Brazil GDP China GDP India GDP Fischer-Kowalski UNEP Nov. 8 22

23 On the global level, and on the level of socioeconomic systems (countries), there is plenty of evidence on decoupling between resource use and GDP. At the rate of 1-2% annually, it is, in fact, business as usual. Two factors outweigh the effects of decoupling and contribute to substantial overall physical growth: population growth and transitions between metabolic rates in the course of development. What might convergence scenarios in the year 25 look like? Fischer-Kowalski UNEP Nov. 8 23

24 Three forced future scenarios for 25 Global metabolic scales in billion tonnes Global metabolic rates in t/cap 16 Construction minerals Ores and industrial minerals Fossil fuels 12 8 Biomass Baseline 2 Freeze & catching up Factor 2 & catching up Freeze global DMC Baseline 2 Freeze & catching up Factor 2 & catching up Freeze global DMC Fischer-Kowalski UNEP Nov. 8 24

25 Scenario assumptions (all : relation between high density/low density countries remains unchanged; population growth by UN projection) 1. Baseline 2 scenario 2. Freeze and catching up: industrial countries maintain their metabolic rates of the year 2, developing countries catch up to same rates 3. Factor 2 and catching up: industrial countries reduce their metabolic rates by factor 2, developing countries catch up 4. Freeze global DMC: global resource consumption by the year 2 remains constant by 25, industrial and developing countries settle for identical metabolic rates Fischer-Kowalski UNEP Nov. 8 25

26 Deviation of scenarios from baseline 2 (in indexed t/cap) Freeze & catching up Factor 2 & catching up Freeze global DMC HDI 1,,5,3 LDI 1,,5,3 HDD 2,4 1,2,8 LDD 2,7 1,3,9 Fischer-Kowalski UNEP Nov. 8 26

27 Fischer-Kowalski UNEP Nov FIN

28 Metabolic rates (material) for selected industrial and developing countries , in relation to GDP / capita Industrial countries Developing countries DMC t/cap*yr (left axis) GDP $/cap*yr (right axis) DMC t/cap*yr (left axis) GDP $/cap*yr (right axis) EU15 DMC USA DMC Japan DMC EU15 USA Japan EU15 GDP USA GDP Japan GDP Brazil DMC China DMC India DMC Brazil China India Brazil GDP China GDP India GDP Fischer-Kowalski UNEP Nov. 8 28

29 Metabolic rates (energy) for selected industrial and developing countries , in relation to GDP / capita Industrial countries Developing countries TPES GJ/cap*yr (left axis) TPES GJ/cap*yr (left axis) GDP $/cap*yr (right axis) GDP $/cap*yr (right axis) EU15 TPES USA TPES Japan TPES EU15 GDP USA GDP Japan GDP Brazil TPES China TPES India TPES EU15 USA Japan Brazil China India Brazil GDP China GDP India GDP Fischer-Kowalski UNEP Nov. 8 29

Energy Trends and Emissions in the Former Soviet Union

Energy Trends and Emissions in the Former Soviet Union Energy Trends and Emissions in the Former Soviet Union GTSP Annual Meeting May 29, 2008 Presented by M. Evans Looking back Overview Economic and demographic trends Energy trends and energy intensity Toward

More information

The transition to sustainable energy

The transition to sustainable energy ATSE Symposium The transition to sustainable energy Peter Littlewood 8 Nov 2016 The changing world economy Index 180 170 160 150 140 130 120 110 100 90 Economies less energy intensive Electricity less

More information

The Material Basis of the Global Economy

The Material Basis of the Global Economy ESEE 2005 17 June 2005, Lisbon The Material Basis of the Global Economy Implications for Sustainable Resource Use Policies in North and South Arno Behrens, Stefan Giljum, Jan Kovanda, Samuel Niza arno.behrens@seri.at

More information

Living with limits: growth, resources and climate change Martin Wolf, Associate Editor & Chief Economics Commentator, Financial Times

Living with limits: growth, resources and climate change Martin Wolf, Associate Editor & Chief Economics Commentator, Financial Times Living with limits: growth, resources and climate change Martin Wolf, Associate Editor & Chief Economics Commentator, Financial Times Grantham Institute for Climate Change Annual Lecture 2011 3 rd November

More information

16. Key Facts about Long Run Economic Growth

16. Key Facts about Long Run Economic Growth Fletcher School, Tufts University 16. Key Facts about Long Run Economic Growth E212 Macroeconomics Prof. George Alogoskoufis How we Measure and Compare Living Standards Living standards are usually measured

More information

Session 4. Growth. The World Economy Share of Global GDP Year 2011 (PPP)

Session 4. Growth. The World Economy Share of Global GDP Year 2011 (PPP) Session 4. Growth Stylized Facts on Standards of Living across Countries Characterizing Growth over 1 Years: The US Economy Growth Dynamics of the G7 Countries and the OECD Economies Characterizing Growth

More information

Global growth prospects

Global growth prospects Global growth prospects Percent 6 Advanced Economies Emerging Markets and Developing Economies 5 4.9 5.0 4.7 4.7 4.5 4 4.3 4.3 3.7 3.7 3 2 2.3 2.3 2.2 2.0 2.0 1.7 1.7 1 1.1 1.3 0 2012 2013 2014 2015 2016

More information

Dr Neil J. Bristow. 8 th WSD Steel Success Strategies European Steel Conference London, 30 th November H & W Worldwide Consulting

Dr Neil J. Bristow. 8 th WSD Steel Success Strategies European Steel Conference London, 30 th November H & W Worldwide Consulting Dr Neil J. Bristow 8 th WSD Steel Success Strategies European Steel Conference London, 30 th November 2010 neil.j.bristow@hwworldwideconsult.com +61240286268 H & W Worldwide Consulting 1. Brief comparison

More information

Building on Kyoto: Towards a Realistic Global Climate Change Agreement and What Australia Should Do

Building on Kyoto: Towards a Realistic Global Climate Change Agreement and What Australia Should Do Building on Kyoto: Towards a Realistic Global Climate Change Agreement and What Australia Should Do Warwick J. McKibbin & Peter J. Wilcoxen ANU Public Lecture, 3 July 2008 Overview Climate Science Lessons

More information

18 th May Global Steel Industry Trends: Is the perception the reality?

18 th May Global Steel Industry Trends: Is the perception the reality? 18 th May 2004 Global Steel Industry Trends: Is the perception the reality? Investors have perceived the steel industry negatively Poor returns over the long term, high volatility, relatively small size

More information

Percent

Percent Outline Outline Growth is picking up Percent 6 Advanced economies Emerging and developing economies 5 4 4.9 5.0 4.3 4.4 4.6 4.7 4.7 3.7 3.7 3 2 2.0 2.3 1.6 2.2 2.3 1.9 1.7 1 1.1 1.3 0 2012 2013 2014 2015

More information

Oil Crises and Climate Challenges 30 Years of Energy Use in IEA Countries

Oil Crises and Climate Challenges 30 Years of Energy Use in IEA Countries Crises and 30 Years of Energy Use in IEA Countries Fridtjof Unander, International Energy Agency ISED Meeting, UN, 13 September 2004 Aim of the Study Review of trends in energy use and CO 2 emissions since

More information

Energy Outlook Global and Domestic Trends and Challenges. Dr. John Caldwell Director of Economics, EEI 1

Energy Outlook Global and Domestic Trends and Challenges. Dr. John Caldwell Director of Economics, EEI 1 Energy Outlook Global and Domestic Trends and Challenges Dr. John Caldwell Director of Economics, EEI 1 World GDP Growth Other Economies are Outpacing the U.S. Other, 7996.16, 11% Africa, 3962.51, 6% Latin

More information

UK Energy Futures. Richard Smith Head of Energy Strategy & Policy

UK Energy Futures. Richard Smith Head of Energy Strategy & Policy UK Energy Futures Richard Smith Head of Energy Strategy & Policy September 2012 Our 2012 scenario development Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Stakeholder workshops (London &

More information

School of international and Public Affairs. Columbia University Manuel Pinho

School of international and Public Affairs. Columbia University Manuel Pinho School of international and Public Affairs Columbia University Manuel Pinho SPHERE WITH CORE What matters to China matters to the world Do not give lessons to China: Europe and the US The challenges: Growth

More information

Index, nominal terms, 2010 = Energy. Agriculture Metals

Index, nominal terms, 2010 = Energy. Agriculture Metals Outline Broad commodity price trends Index, nominal terms, 2010 = 100 180 150 Energy 120 90 60 Agriculture Metals 30 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Source:

More information

Brazil Baseline and Mitigation Scenarios

Brazil Baseline and Mitigation Scenarios Brazil Baseline and Mitigation Scenarios The 12 th AIM International Workshop William Wills ww@ufrj.br Tsukuba, Japan 19-21, February 2007 CCAP (Center for Clean Air Policy): Dialogue on Future International

More information

US imports from emerging economies have grown rapidly

US imports from emerging economies have grown rapidly US imports from emerging economies have grown rapidly Ratio to GDP (current dollars) 0.07 US merchandise imports, 1978 2008 0.06 0.05 0.04 0.03 0.02 Industrial Non-OPEC other 0.01 0 OPEC = Organization

More information

The Great Convergence: China, India and the new global economy. Mark Thirlwell Program Director, International Economy July 2006

The Great Convergence: China, India and the new global economy. Mark Thirlwell Program Director, International Economy July 2006 The Great Convergence: China, India and the new global economy Mark Thirlwell Program Director, International Economy July 2006 India Two views of the largest economies in 2005 Top 12 economies by GDP,

More information

FAPRI agricultural commodity outlook

FAPRI agricultural commodity outlook FAPRI agricultural commodity outlook By William H. Meyers Howard Cowden Professor of Agricultural and Applied Economics FAPRI at MU UN DESA Expert Group Meeting on the World Economy 21 October 2013 New

More information

More relatively-poor people in a less absolutely-poor world

More relatively-poor people in a less absolutely-poor world World Bank Presentation on Shared Prosperity, December 3, 2013 More relatively-poor people in a less absolutely-poor world Martin Ravallion Department of Economics, Georgetown University Looking back 200

More information

U.S. Overview. Gathering Steam? Tuesday, October 1, 2013

U.S. Overview. Gathering Steam? Tuesday, October 1, 2013 U.S. Overview Gathering Steam? Tuesday, October 1, 2013 Uneven global economic recovery Annual real GDP growth projections (%) Projections 2013 2014 World 3.1 3.1 3.8 United States 2.2 1.7 2.7 Euro Area

More information

ENERGY TRANSITION PATHWAYS FOR THE 2030 AGENDA IN ASIA AND THE PACIFIC

ENERGY TRANSITION PATHWAYS FOR THE 2030 AGENDA IN ASIA AND THE PACIFIC ENERGY TRANSITION PATHWAYS FOR THE 2030 AGENDA IN ASIA AND THE PACIFIC Mr Hongpeng Liu Director, Energy Division, Economic and Social Commission for Asia and the Pacific Objectives and progress of the

More information

Opening address for dinner-debate

Opening address for dinner-debate Opening address for dinner-debate Mohammed Barkindo Acting for the OPEC Secretary General European Parliament Strasbourg, France 4 July 2006 1 Outline Importance of EU-OPEC Energy Dialogue Current oil

More information

The Changing Global Economy Impacts on Seaports and Trade Dr. Walter Kemmsies

The Changing Global Economy Impacts on Seaports and Trade Dr. Walter Kemmsies The Changing Global Economy Impacts on Seaports and Trade Dr. Walter Kemmsies Chief Economist, PAGI Group, JLL (Port, Airport & Global Infrastructure) Agenda Where are we in the cycle? What are the barriers

More information

Energy, Economy and Policy: A Glimpse at the 21 st Century

Energy, Economy and Policy: A Glimpse at the 21 st Century Gas Well Deliquification Workshop Denver, Colorado February, 2009 Energy, Economy and Policy: A Glimpse at the 21 st Century Scott W. Tinker Bureau of Economic Geology Jackson School of Geosciences The

More information

FINANCING THE ENERGY TRANSITION

FINANCING THE ENERGY TRANSITION FINANCING THE ENERGY TRANSITION CLEAN ENERGY INVESTMENT TRENDS: HISTORY AND PROSPECTS GUY TURNER CHIEF ECONOMIST PRESENTATION TITLE, DAY MONTH YEAR 1 CONTENTS 1. Global investment patterns to date 2. UK

More information

Multidimensional Analysis

Multidimensional Analysis Multidimensional Analysis of Macro Sustainability of Russia: New Methods for Measuring Progress Dr Stanislav Shmelev, Senior Research Fellow, Oxford University, UK E-mail: s.shmelev@ouce.ox.ac.uk Tel:

More information

Market Opportunities for Irish Dairy 2025

Market Opportunities for Irish Dairy 2025 Market Opportunities for Irish Dairy 2025 National Dairy Conference 2014 Red Cow Moran Hotel, Dublin Aidan Cotter Chief Executive Wednesday, 19 th November, 2014 AIDAN COTTER BORD BIA CHIEF EXECUTIVE 28

More information

Global economic cycle has slowed

Global economic cycle has slowed Year-on-year % change Confidence index, 50= no change Global economic cycle has slowed 25% 70 20% International trade growth 65 15% 10% Industrial production growth 60 5% 55 0% 50-5% Business confidence

More information

Strategies for joining the European Economic and Monetary Union: A Comparative Analysis of Possible Scenarios.

Strategies for joining the European Economic and Monetary Union: A Comparative Analysis of Possible Scenarios. This paper (presented on the CASE internal seminar on May, 28 2003) summarizes the preliminary results of the research conducted within the frames of the project entitled Strategies for joining the European

More information

ANNEXES - KYRGYZSTAN. Independent Country Programme Evaluation

ANNEXES - KYRGYZSTAN. Independent Country Programme Evaluation ANNEXES - KYRGYZSTAN Independent Country Programme Evaluation 1 http://web.undp.org/evaluation/documents/evaluation-policy.pdf 2 http://data.un.org/countryprofile.aspx?crname=kyrgyzstan (accessed April

More information

Airlines, the economy and air transport demand

Airlines, the economy and air transport demand Airlines, the economy and air transport demand Brian Pearce, Chief Economist, IATA www.iata.org/economics Airline Industry Economics Advisory Workshop 2016 1 Returns for airlines investors lower this year;

More information

The outlook: what we know, the known unknowns and the unknown unknowns

The outlook: what we know, the known unknowns and the unknown unknowns The outlook: what we know, the known unknowns and the unknown unknowns 24 April 2017 Seoul Brian Pearce, Chief Economist, IATA www.iata.org/economics Airline Industry Economics Advisory Workshop 2016 1

More information

Chinese-US Economies in Comparison and Interaction: Now and Future as China Economist Surveys

Chinese-US Economies in Comparison and Interaction: Now and Future as China Economist Surveys Chinese-US Economies in Comparison and Interaction: Now and Future as China Economist Surveys Key outcome of the 19 th CPC National Congress: Chinese society's principal contradiction has changed 40 yeas

More information

RISI LATIN AMERICAN CONFERENCE. (São Paulo, 16 August 2016) The Latin American Economy: Some Successes, Many Disappointments

RISI LATIN AMERICAN CONFERENCE. (São Paulo, 16 August 2016) The Latin American Economy: Some Successes, Many Disappointments RISI LATIN AMERICAN CONFERENCE (São Paulo, 16 August 2016) The Latin American Economy: Some Successes, Many Disappointments Andrea Boltho Magdalen College University of Oxford and Oxford Economics GDP

More information

The best design acknowledges that you can't disconnect the form from the material.

The best design acknowledges that you can't disconnect the form from the material. Sir Jonathan Ive Senior Vice President of Design, Apple Inc. The best design acknowledges that you can't disconnect the form from the material. The material informs the form. The only way to make the MacBook

More information

Steel: A Buyer s Market for the Worst of Reasons. John Anton Director, IHS Global Insight Steel Service August 2009

Steel: A Buyer s Market for the Worst of Reasons. John Anton Director, IHS Global Insight Steel Service August 2009 Steel: A Buyer s Market for the Worst of Reasons John Anton Director, IHS Global Insight Steel Service August 2009 The U.S. Recession Is Bottoming Out This recession has been the most severe of the postwar

More information

Trade Growth - Fundamental Driver of Port Operations and Development Strategies

Trade Growth - Fundamental Driver of Port Operations and Development Strategies Trade Growth - Fundamental Driver of Port Operations and Development Strategies Marine Terminal Management Training Program October 15, 2007 Long Beach, CA Paul Bingham Global Insight, Inc. 1 Agenda Economic

More information

Global Outlook for Agriculture Trend versus Cycle

Global Outlook for Agriculture Trend versus Cycle Global Outlook for Agriculture Trend versus Cycle Michael Swanson Ph.D. Wells Fargo October 2017 Everything is connected we just don t see how. Connection corollary: Nothing natural moves in a straight

More information

United Nations Conference on Trade and Development

United Nations Conference on Trade and Development United Nations Conference on Trade and Development 11 th MULTI-YEAR EXPERT MEETING ON COMMODITIES AND DEVELOPMENT 15-16 April 2019, Geneva Saudi economic growth strategy on the face of oil price uncertainty

More information

Anna Kosior, Economic Analysis Department. Will Central and Eastern Europe run out of steam?

Anna Kosior, Economic Analysis Department. Will Central and Eastern Europe run out of steam? Anna Kosior, Economic Analysis Department Will Central and Eastern Europe run out of steam? Opinie wyrażone w niniejszej publikacji są opiniami autorów i nie przedstawiają stanowiska organów Narodowego

More information

Market Report Series Oil 2017

Market Report Series Oil 2017 Market Report Series Oil 2017 Neil Atkinson, Head Oil Industry & Markets Division, IEA International Institute for Strategic Studies, Bahrain, 17 September 2017 Oil demand continues to grow but at a slower

More information

COMMENTS ON THE INDUSTRIAL POLICY: THE CASE OF TURKEY

COMMENTS ON THE INDUSTRIAL POLICY: THE CASE OF TURKEY MINISTRY OF DEVELOPMENT, REPUBLIC OF TURKEY COMMENTS ON THE INDUSTRIAL POLICY: THE CASE OF TURKEY Umut GÜR Head of Department of Industry 10 May 2013 Panel on Industrial Policies, TEPAV, Ankara 1 1923

More information

Telling Canada s story in numbers Elizabeth Richards Analytical Studies Branch April 20, 2017

Telling Canada s story in numbers Elizabeth Richards Analytical Studies Branch April 20, 2017 Recent Developments in the Canadian Economy: How have the decline in oil prices and a weaker Canadian dollar affected Canada s economy? www.statcan.gc.ca Telling Canada s story in numbers Elizabeth Richards

More information

Major Issues and Trends Facing the Port and Marine Transportation Industry

Major Issues and Trends Facing the Port and Marine Transportation Industry Major Issues and Trends Facing the Port and Marine Transportation Industry Presented to: AAPA Marine Terminal Management Training Program April 24, 2006 Charleston Riverview Hotel Charleston, SC - USA

More information

Alaska s Natural Resource Commodities: A 10-Year Outlook

Alaska s Natural Resource Commodities: A 10-Year Outlook Alaska Resources Development Council November 14-15, 2018 Alaska s Natural Resource Commodities: A 10-Year Outlook David R. Hammond, Ph.D. Principal Mineral Economist Hammond International Group Commodities

More information

Indian Economy in Graphs. Arvind Panagariya Columbia University

Indian Economy in Graphs. Arvind Panagariya Columbia University Indian Economy in Graphs Growth in GDP and Per-capita GDP 9 8.3 8 7 6.7 6 5.8 5 4 3 2 4.1 2.2 3.2 4.6 2.2 3.7 1 0.8 0 Phase I (1951-64) Phase II (1965-81) Phase III (1981-88) Phase IV (1988-03) Phase V

More information

Agricultural Outlook: Rebalancing U.S. Agriculture

Agricultural Outlook: Rebalancing U.S. Agriculture Agricultural Outlook: Rebalancing U.S. Agriculture Michael J. Swanson Ph.D. Agricultural Economist January 2018 2018 Wells Fargo Bank, N.A. All rights reserved. For public use. The U.S. Ag Sector renormalizes!

More information

Airline industry outlook 2019

Airline industry outlook 2019 Airline industry outlook 2019 Brian Pearce Chief Economist 12 December 2018 Million barrels a day US$ per barrel Are the markets signalling recession ahead? 60 55 Business confidence (left scale) FTSE

More information

Some Facts About Output

Some Facts About Output Some Facts About Output GNP as a Percentage of GDP in 2009 Country % Kuwait 110,38 United Kingdom 102 Japan 103,14 United States 99,24 China 100,87 Germany 101,41 Mexico 98,34 Poland 96,76 Ireland 81,19

More information

Organized Session 3: Protectionism and BRICS economies

Organized Session 3: Protectionism and BRICS economies ASIA-PACIFIC RESEARCH AND TRAINING NETWORK ON TRADE ARTNeT CONFERENCE ARTNeT Trade Economists Conference Trade in the Asian century - delivering on the promise of economic prosperity 22-23 rd September

More information

India: Can the Tiger Economy Continue to Run?

India: Can the Tiger Economy Continue to Run? India: Can the Tiger Economy Continue to Run? India s GDP is on the rise US$ trillions Nominal GDP (left axis) GDP growth (right axis) 3.0 2.5 2.0 1.5 1.0 0.5 0.0 1990 1992 1994 1996 1998 2000 2002 2004

More information

Impacts of the Global Economy on Asia Pacific Travel. 29 June 2007 John Walker

Impacts of the Global Economy on Asia Pacific Travel. 29 June 2007 John Walker Impacts of the Global Economy on Asia Pacific Travel 29 June 2007 John Walker jwalker@oxfordeconomics.com Oxford Economics Founded in 1981 Over 300 clients including blue chip companies and government

More information

Maximizing Tourism Marketing Investments A Canadian Perspective

Maximizing Tourism Marketing Investments A Canadian Perspective Maximizing Tourism Marketing Investments A Canadian Perspective Understanding the potential of markets Economics: GDP; Inflation; Unemployment; Employment; Disposable Income; Private Consumption; Consumer

More information

De-Globalization: Does That Word Mean What You Think it Means?

De-Globalization: Does That Word Mean What You Think it Means? De-Globalization: Does That Word Mean What You Think it Means? Presentation to 35 Annual Monetary & Trade Conference Mykyta Vesselovsky, Ph.D. Office of the Chief Economist Global Affairs Canada April

More information

International Economic Shocks and the Challenges of International Corporations

International Economic Shocks and the Challenges of International Corporations RIETI Policy Symposium International Economic Shocks and the Challenges of International Corporations Ryuhei Wakasugi Research Counselor, RIETI Professor Kyoto University and Keio University R. Wakasugi

More information

Potash Outlook. Kevin Stone Natural Resources Canada. TFI Fertilizer Outlook and Technology Conference Fort Lauderdale, Florida November 16, 2016

Potash Outlook. Kevin Stone Natural Resources Canada. TFI Fertilizer Outlook and Technology Conference Fort Lauderdale, Florida November 16, 2016 1 Potash Outlook Kevin Stone Natural Resources Canada TFI Fertilizer Outlook and Technology Conference Fort Lauderdale, Florida November 16, 2016 2 Outline Historical Consumption and Supply Outlook for

More information

Briefing Paper #1. An Overview of Regional Demand and Mode Share

Briefing Paper #1. An Overview of Regional Demand and Mode Share 2011 Metro Vancouver Regional Trip Diary Survey Briefing Paper #1 An Overview of Regional Demand and Mode Share Introduction The 2011 Metro Vancouver Regional Trip Diary Survey is the latest survey conducted

More information

Federal R&D Investments in the 2009 Budget

Federal R&D Investments in the 2009 Budget Federal R&D Investments in the 2009 Budget Kei Koizumi October 24, 2008 for the University of Michigan Engineering Advisory Council AAAS R&D Budget and Policy Program http://www.aaas.org/spp/rd See the

More information

The Long-term Perspective: IHS Scenarios to 2030 applied to Automotive. Presented by: Nigel Griffiths Chief Automotive Economist IHS Automotive

The Long-term Perspective: IHS Scenarios to 2030 applied to Automotive. Presented by: Nigel Griffiths Chief Automotive Economist IHS Automotive The Long-term Perspective: IHS Scenarios to 2030 applied to Automotive Presented by: Nigel Griffiths Chief Automotive Economist IHS Automotive Millions Global Light Vehicle Sales: A Growth Industry Once

More information

Economic Outlook March Economic Policy Division

Economic Outlook March Economic Policy Division Economic Outlook March 212 Economic Policy Division Real GDP Outlook Percent Change, Annual Rate 2 1 1 - -1 197 197 198 198 199 199 2 2 21 U.S. GDP Actual and Potential Quarterly, Q1 197 to Q4 211 Real

More information

The Economy of Finland

The Economy of Finland The Economy of Finland Aug 30st 2013, Finnish Ministry of Foreign Affairs Presentation for the American Fulbright Grantees Petteri Rautaporras, Economist at the Federation of Finnish Technology Industries

More information

WORLD. Geographic Trend Report for GMAT Examinees

WORLD. Geographic Trend Report for GMAT Examinees 2012 WORLD Geographic Trend Report for GMAT Examinees WORLD Geographic Trend Report for GMAT Examinees The World Geographic Trend Report for GMAT Examinees identifies mobility trends among candidates applying

More information

Wenlin Liu, Senior Economist. Stateof Wyoming. Economic Analysis Division State of Wyoming 1

Wenlin Liu, Senior Economist. Stateof Wyoming. Economic Analysis Division State of Wyoming 1 WYOMING DEMOGRAPHIC AND ECONOMIC TREND LCCC LIFE Program April 7, 2012 Cheyenne, Wyoming Wenlin Liu, Senior Economist Economic Analysis Division Stateof Wyoming Economic Analysis Division State of Wyoming

More information

After the British referendum

After the British referendum Future of Europe After the British referendum Broader issues for the UK and the EU David Marsh, Managing Director, OMFIF 27 October 2016 Nicosia 1 European politics moves against integration A new phase

More information

Climate Change at Frontenac Arch Biosphere Reserve: Preliminary Results. Adam Fenech Climate University of Toronto August 28, 2010

Climate Change at Frontenac Arch Biosphere Reserve: Preliminary Results. Adam Fenech Climate University of Toronto August 28, 2010 Climate Change at Frontenac Arch Biosphere Reserve: Preliminary Results Adam Fenech Climate Lab @ University of Toronto August 28, 2010 Special Considerations Data used is from Canada s National Climate

More information

The Eurozone integration, des-integration and possible future developments

The Eurozone integration, des-integration and possible future developments The Eurozone integration, des-integration and possible future developments 18 th Monetary Policy Workshop at the Berlin School of Economcs and Law, 12 13 October 2017 Overview Position 1: The euro itself

More information

Lucintel. Publisher Sample

Lucintel.   Publisher Sample Lucintel http://www.marketresearch.com/lucintel-v2747/ Publisher Sample Phone: 800.298.5699 (US) or +1.240.747.3093 or +1.240.747.3093 (Int'l) Hours: Monday - Thursday: 5:30am - 6:30pm EST Fridays: 5:30am

More information

United Nations Conference on Trade and Development. TRADE AND DEVELOPMENT BOARD (62nd session)

United Nations Conference on Trade and Development. TRADE AND DEVELOPMENT BOARD (62nd session) United Nations Conference on Trade and Development TRADE AND DEVELOPMENT BOARD (62nd session) Geneva, 14-25 September 2015 Item 6: Evolution of the international trading system and its trends from a development

More information

La importancia de la perspectiva del

La importancia de la perspectiva del Foro Internacional: La importancia de la perspectiva del futuro para el Perú y Latinoamérica Barry Hughes Director del Pardee Center for International Futures, Universidad de Denver Autor del modelo prospectivo

More information

Monitoring of graduating and graduated countries: Angola, Equatorial Guinea, Maldives, Samoa, and Vanuatu

Monitoring of graduating and graduated countries: Angola, Equatorial Guinea, Maldives, Samoa, and Vanuatu Monitoring of graduating and graduated countries: Angola, Equatorial Guinea, Maldives, Samoa, and Vanuatu Namsuk Kim CDP Secretariat CDP 20 th plenary meeting 12 16 March 2018 Monitoring timeline Date

More information

ENERGY TRANSITION PATHWAYS FOR THE 2030 AGENDA IN ASIA AND THE PACIFIC

ENERGY TRANSITION PATHWAYS FOR THE 2030 AGENDA IN ASIA AND THE PACIFIC ENERGY TRANSITION PATHWAYS FOR THE 2030 AGENDA IN ASIA AND THE PACIFIC Hongpeng Liu Director, Energy Division, UNESCAP Objectives and progress of Energy Transition Asia-Pacific policy-makers face three

More information

Inland Empire International Trade Economic Forecast

Inland Empire International Trade Economic Forecast Inland Empire International Trade Economic Forecast Mira Farka Adrian Fleissig Institute for Economic and Environmental Studies Orange County / Inland Empire Regional SBDC Network California State University,

More information

Global Economic Outlook

Global Economic Outlook Global Economic Outlook Mark A. Wynne Vice President & Associate Director of Research Director, Globalization & Monetary Policy Institute Federal Reserve Bank of Dallas Presentation to Vistas Conference

More information

Oil Prices: Past, Present, & Future

Oil Prices: Past, Present, & Future Oil Prices: Past, Present, & Future Gulf Research Center November 23, 2005 A. F. Alhajji*, PhD Gulf Energy Program - Moderator Gulf Research Center Dubai, UAE *A. F. Alhajji, PhD is also George Patten

More information

FREIGHT DYNAMICS IN THE LOW PRICE CLIMATE METAL BULLETIN INTERNATIONAL IRON ORE SYMPOSIUM

FREIGHT DYNAMICS IN THE LOW PRICE CLIMATE METAL BULLETIN INTERNATIONAL IRON ORE SYMPOSIUM FREIGHT DYNAMICS IN THE LOW PRICE CLIMATE METAL BULLETIN INTERNATIONAL IRON ORE SYMPOSIUM JUNE 216 PRESENTATION STRUCTURE year-to-date freight market in perspective 1q16 sees vessel earnings sink to historic

More information

International Trade Economic Forecasts An Overview of Orange County and Southern California Exports

International Trade Economic Forecasts An Overview of Orange County and Southern California Exports International Trade Economic Forecasts An Overview of Orange County and Southern California Exports Mira Farka Adrian R. Fleissig Institute for Economic and Environmental Studies Orange County / Inland

More information

Global Construction Outlook: Laura Hanlon Product Manager, Global Construction Outlook May 21, 2009

Global Construction Outlook: Laura Hanlon Product Manager, Global Construction Outlook May 21, 2009 Global Construction Outlook: Short-term term Pain, Long-term Gain Laura Hanlon Product Manager, Global Construction Outlook May 21, 2009 What This Means for You The world is set to be hit this year with

More information

University of Groningen & The Conference Board Asia s Productivity Performance and Potential: A Sectoral Perspective

University of Groningen & The Conference Board Asia s Productivity Performance and Potential: A Sectoral Perspective University of Groningen & The Conference Board Asia s Productivity Performance and Potential: A Sectoral Perspective Bart van Ark and Marcel Timmer Groningen Growth and Development Centre May 2003 Dynamics

More information

MONETARY AND FISCAL POLICIES DURING THE NEXT RECESSION

MONETARY AND FISCAL POLICIES DURING THE NEXT RECESSION OXYGEN EVENTS CONFERENCE GALA PERFORMANCE 2017 MONETARY AND FISCAL POLICIES DURING THE NEXT RECESSION - THE CASE OF ROMANIA - Ph.D. Andrei RĂDULESCU Senior Economist, Banca Transilvania Researcher, Institute

More information

State of Small pelagic Fish resources and its implications for Food Security and Nutrition

State of Small pelagic Fish resources and its implications for Food Security and Nutrition State of Small pelagic Fish resources and its implications for Food Security and Nutrition Manuel Barange, Stefania Vannuccini, Yimin Ye, Malcolm Beveridge Food and Agriculture Organization of the UN,

More information

5. Golf Industry Trends and Developments in the US 6. The US Macro Economy Factors and Impact over Golf Industry

5. Golf Industry Trends and Developments in the US 6. The US Macro Economy Factors and Impact over Golf Industry TABLE OF CONTENTS 1. Golf Industry Performance Worldwide 1.1. Overview 1.2. Global Golf Equipment Demand and Economy 2. The US Golf Industry Overview 2.1. Industry Segmentation 3. Industry Performance

More information

Effects of Common Economic Space Creation

Effects of Common Economic Space Creation Effects of Common Economic Space Creation Институт Institute of народнохозяйственного Economic Forecasting прогнозирования Florence September, 2012 20 years of independent economic development 1990 1991

More information

The Source for Maritime Information and Insight. Copyright Copyright 2009 IHS Global 2008 IHS Insight. Inc. All Rights Reserved. 1

The Source for Maritime Information and Insight. Copyright Copyright 2009 IHS Global 2008 IHS Insight. Inc. All Rights Reserved. 1 The Source for Maritime Information and Insight Copyright Copyright 2009 IHS Global 2008 IHS Insight. Inc. All Rights Reserved. 1 A Greener Shade of Blue Christopher Pålsson Director IHS Fairplay 20 minutes

More information

The structure of the euro area recovery

The structure of the euro area recovery The structure of the euro area recovery Rolf Strauch, Chief Economist JPMorgan Investor Seminar, IMF Annual Meetings Washington, October 2017 The euro area: a systemic player in global trade Trade openness

More information

Indiana Electricity Projections: The 2018 Forecast Update

Indiana Electricity Projections: The 2018 Forecast Update Indiana Electricity Projections: The 2018 Forecast Update State Utility Forecasting Group The Energy Center at Discovery Park Purdue University West Lafayette, Indiana October 2018 Summary This report

More information

Counting the fish catch - why don t the numbers match?

Counting the fish catch - why don t the numbers match? Counting the fish catch - why don t the numbers match? Authors: Daniel Pauly and Dirk Zeller Associate editor: Lindsey Hall Abstract Fish and marine animals like shrimp (we ll call them all fish here),

More information

Growth Strategies and Dynamics in Developing Countries. Michael Spence Hamilton Project/CGD Forum Washington D.C. April 14, 2008

Growth Strategies and Dynamics in Developing Countries. Michael Spence Hamilton Project/CGD Forum Washington D.C. April 14, 2008 Growth Strategies and Dynamics in Developing Countries Michael Spence Hamilton Project/CGD Forum Washington D.C. April 14, 2008 1 The Focus The subject is sustained high inclusive growth and the policies,

More information

China s Industrial Capabilities and Trade

China s Industrial Capabilities and Trade China s Industrial Capabilities and Trade Loren Brandt Thomas Rawski June 16, 2005 Key Facts: China, 2003 Population: 1.3 billion (1 st ) GNP: $US 1.4 trillion (3 rd ) Foreign Trade: $US 850.1 (3rd) GNP

More information

OCEAN2012 Fish Dependence Day - UK

OCEAN2012 Fish Dependence Day - UK OCEAN2012 Fish Dependence Day - UK Europeans are now so dependent on fish products originating from external waters that half the fish they consume are sourced outside the EU Fish dependence: The EU s

More information

RISI EUROPEAN CONFERENCE. (Barcelona, 6 March 2018) The European Economy Things look good just now. Can this last?

RISI EUROPEAN CONFERENCE. (Barcelona, 6 March 2018) The European Economy Things look good just now. Can this last? RISI EUROPEAN CONFERENCE (Barcelona, 6 March 2018) The European Economy Things look good just now. Can this last? Andrea Boltho Magdalen College University of Oxford and Oxford Economics CONCLUSIONS OF

More information

Growth and the World Distribution of Income. By Xavier Sala-i-Martin

Growth and the World Distribution of Income. By Xavier Sala-i-Martin Growth and the World Distribution of Income By Xavier Sala-i-Martin 2000 $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 GDP Per Capita Since 1970 World GDP Per Capita 1972 1974 1976 1978 1980

More information

Global Oil Supplies: Is Supply Constrained? Kevin Lindemer

Global Oil Supplies: Is Supply Constrained? Kevin Lindemer Global Oil Supplies: Is Supply Constrained? Kevin Lindemer Is Supply Constrained? Signposts continue to indicate a supply constrained world is possible and could emerge, not-with-standing short-term easing.

More information

SUMMARY. Natural Gas In The World 2017 Edition

SUMMARY. Natural Gas In The World 2017 Edition CEDIGAZ, the International Association for Natural Gas SUMMARY Natural Gas In The World 217 Edition CEDIGAZ, October 217 NATURAL GAS IN THE WORLD 217 SUMMARY Worldwide proven natural gas reserves grew

More information

Interim report Q Conference call, 30 August 2017 CEO Ulrik Kolding Hartvig CFO Marianne Rørslev Bock

Interim report Q Conference call, 30 August 2017 CEO Ulrik Kolding Hartvig CFO Marianne Rørslev Bock Interim report Q2 2017 Conference call, 30 August 2017 CEO Ulrik Kolding Hartvig CFO Marianne Rørslev Bock 1 Highlights Higher volumes outweighed by phasing in Hartmann Technology Group revenue declined

More information

Deficit Reduction and Economic Growth: Are They Mutually Exclusive Goals? Tuesday, May 1, 2012; 2:30 PM - 3:45 PM

Deficit Reduction and Economic Growth: Are They Mutually Exclusive Goals? Tuesday, May 1, 2012; 2:30 PM - 3:45 PM Deficit Reduction and Economic Growth: Are They Mutually Exclusive Goals? Tuesday, May 1, 2012; 2:30 PM - 3:45 PM Moderator: Gillian Tett, U.S. Managing Editor, Financial Times Speakers: Jared Bernstein,

More information

Transition: Changes After Socialism* Leszek Balcerowicz

Transition: Changes After Socialism* Leszek Balcerowicz Transition: Changes After Socialism* November 2014 Leszek Balcerowicz Warsaw School of Economics *I m grateful to Magda Ciżkowicz, Aleksander Łaszek, Sonja Wap and Marek Tatała for their assistance in

More information

Concept of Sustainable Transport and integrated Land Use Planning- An Overview. Manfred Breithaupt GIZ Water, Energy, Transport

Concept of Sustainable Transport and integrated Land Use Planning- An Overview. Manfred Breithaupt GIZ Water, Energy, Transport Concept of Sustainable Transport and integrated Land Use Planning- An Overview Manfred Breithaupt GIZ Water, Energy, Transport The adverse impacts of growth in motorization - in economic, environmental

More information

The World and U.S. Economy and San Pedro Bay Container Trade Outlook Forecast Review

The World and U.S. Economy and San Pedro Bay Container Trade Outlook Forecast Review The World and U.S. Economy and San Pedro Bay Container Trade Outlook Forecast Review Michael Keenan Harbor Planning and Economic Analyst Port of Los Angeles October 5, 2009 Review of 2007 Container Trade

More information