rt in GDP Russian economy is exposed to international aggregate demand shocks, what caused also - 7,8% growth in year 2009. Average value of government consumption is 19,8%. The movement of Gross investments mimics the GDP movement. High economic growth increases expected revenues and optimistic investment environment. At time of the crisis the share of investments dropped by 9,2 percentage points. Investment share was on average 20,5%, what is tuned with economic theory suggestion. Import is moving similarly to gross investments, because higher domestic income increases import and it s share in GDP, the opposite effect is visible in the time of economic crisis 2009, when import importance fall . Russia constantly experiences positive net export (current account surplus). Average share of import in GDP is 16,9%. Poor economic performance in year 2009 was responsible negative growth of investment, which was the third most important part of GDP in year 2008, for 41%. Drop in import was 30,4%. It is interesting that Russia hasn t increased government spending, it was decreased by - 0,6%. The 2009 Anti-Crisis Programme amounted to approximately 2 trillion rubles (62.5 billion $), but overall G compared to 2008 has decreased.
4: GDP structure in% by type of expenditures Brazil (constant prices 2005)
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The most important component of GDP in Brazil is Household consumption, with an average value 61,5%. Export on the other hand on average contributes 14,32% to GDP. Both indicators show that Brazil is mostly closed economy, larger share of Brazil s production is consumed at home and they are using their huge domestic market to sell their products. Net export was positive till 2008, than it became negative and it is getting larger (current account deficit). Before the crisis global economic forces have served Brazil well. As a leading exporter of raw materials (soya and iron ore), Brazil has benefited from Chinese boom. Export served for massive inflow of dollars and made real more expensive, what undermines competitiveness of manufacturing. Imported machinery has increased its market share from 15% to 50% since 2006. This movement is showed in negative net export.
The second most important component of GDP are gross investments (on average 19,72%). Investment s share reaches maximum value in 2008 (20,8%). Investments are going to increase due to Olympic Games in Rio de Janeiro in 2016. Government consumption share is on average 19,2% and is relative stable over time.period form 2008 and 2009 Brazil experienced negative economic growth - 0,6%. This was mostly due to decrease in gross investments (-16,2%)...
