Consumers to power Russian economy

canada goose clearance MOSCOW, Feb 5 (Reuters) Russia consumer canada goose parka uk market will be the largest in Europe by canada goose outlet parka 2020 and the fourth largest in the world, offering rich canada goose outlet mall pickings for investors, according to a report on Tuesday by Sberbank CIB, the investment banking arm of Russia top bank canada goose sale uk Sberbank. canada goose clearance

Canada Goose Outlet The report sought to counter popular stereotypes that Russia economy is largely based on oil and other natural resources and canada goose outlet london highlight canada goose coats uk the growth potential of consumer oriented sectors that cater to a large and growing middle class. Canada Goose Outlet

Canada Goose Coats On Sale are attacking the myth that Russia canada goose outlet michigan is a basic raw materials market. Russia economy and GDP are driven primarily by consumption, said Andy Smith, head of equity research canada goose womens outlet at Sberbank CIB, presenting the report. canada goose outlet online Canada Goose Coats On Sale

canada goose coats on sale Consumer oriented sectors already account for two thirds of Russia GDP and have contributed 80 percent of Russia economic growth since 2004. Consumer spending could almost double to $3 trillion by 2025, the report forecast. canada goose coats on sale

buy canada goose jacket The canada goose outlet montreal middle class, with annual income of $6,000 $15,000, accounts for 55 percent of the population, the report said, a far canada goose outlet kokemuksia higher proportion than the other economies of Brazil (30 percent), China (21) and India (11). buy canada goose jacket

canada goose uk shop Russia also has a far higher share of high Check Out Your URL earners, with 15 percent of households boasting an annual income above $50,000 three times more than in Brazil. canada goose uk shop

cheap Canada Goose As the spending habits of the Russian middle class converge with those of peers in developed economies, this will drive the growth of underdeveloped products and services, the report said. cheap Canada Goose

canada goose For example, canada goose jacket outlet toronto between 2013 and 2015 demand for premium tourism, internet retail, private savings plans, canada goose factory outlet consumer loans and video games are all projected to grow by 10 15 percent per annum. canada goose

Canada Goose Parka The fashion and footwear market is expected to grow canada goose outlet location by 5 10 percent, with the advertising and media market sectors forecast to see 8 10 percent growth. Canada Goose Parka

canada goose factory sale The report projects Russia overall economic growth at 4 percent over the canada goose outlet uk next five canada goose victoria parka outlet years, still some four times faster than in the economically troubled Eurozone. canada goose factory sale

Canada Goose Online BUYING OPPORTUNITY? Despite canada goose outlet online reviews the rapid growth potential of Russia consumer economy, Sberbank CIB said consumer focused companies are poorly represented in the stock market, implying that these companies shares have canada goose outlet ottawa been neglected by investors and are therefore a buying opportunity. Canada Goose Online

canada goose coats Such companies account for just one third of stock market capitalisation, with extractive companies accounting for the remaining two thirds, even though the latter have limited growth potential. canada goose coats

canada goose store The weighted average 2013 canada goose outlet los angeles price earnings (P/E) ratio for Russian consumer stocks, 7.0, compares with an emerging market average of 11.8 and a world average of 14.4, Sberbank CIB estimated. canada goose store

canada goose clearance sale The publication of the Sberbank CIB report coincided with the launch of a new equity index, the Sberbank CIB Ivanov canada goose outlet woodbury Index, that is designed to monitor the performance of 24 Russian consumer oriented canada goose outlet 80 off stocks and provide a benchmark for investors. canada goose clearance sale

Canada Goose sale see a very profitable trade in the years ahead by expressing and aligning Russian stock selection with the country mega theme of domestic consumption, the report said. (Reporting by Jason Bush; Editing by David Cowell) Canada Goose sale.