德国银行XXXX年发表的世界主要国家与地区购买力与物价

DeutscheBankMarketsResearchGlobalEconomicsDate3April2013TheRandomWalkMappingtheWorld'sPrices2013________________________________________________________________________________________________________________DeutscheBankAG/HongKongDISCLOSURESANDANALYSTCERTIFICATIONSARELOCATEDINAPPENDIX1.MICA(P)072/04/2012.SanjeevSanyalGlobalStrategist(+65)[e-mail]dthefirsteditionof“MappingtheWorld’sPrices”and,giventheoverwhelminglypositiveresponsefromreaders,wehavedecidedtopublishanupdateandhopetodosoeveryyear.Justlikethepreviousedition,thisisasimplesurveyofpricesandpriceindicesofawidearrayofgoodsandservicesfromaroundtheworld.Thedataiseithergleaneddirectlyfrompricespostedontheinternetorfromsourcesthathavecollateddata.Inordertoensurethatthatpricesarecomparableacrosscountrieswehavetriedtouseproductsthatarestandardacrosscountriesorhaveclosesubstitutes.Weareawareofthelimitationsofsurveyingpricesovertheinternetaswellasthedistortionscausedbydiscountsandothertemporaryvariations.Wefacedanadditionalproblemthisyearbecausewealsoattemptedtomakethesurveycomparablewithlastyear’sdata.Changesinproductdesignandupgradescanoftenmakethisdifficult.Thus,wehavetriedtocorrectforthesedistortionswherepossibleandreaderscanrefertothenotesaccompanyingthetables.Despitetheseissues,wefeelthatthesurveyprovidesthereaderwithareasonablyunbiasedviewofglobalprices.Thisyear’ssurveytoofoundthatAustraliaandJapanareveryexpensiveacrossawiderangeofproductswhiletheUnitedStatesisgenerallythecheapestdevelopedcountry.Foradevelopingcountry,Braziltoowasfoundtobeveryexpensive.However,exchangeratemovementsdidimpactthecross-countrycomparisonsthisyear.So,Japanappearstohavesomewhatreduceditspricegapwiththerestoftheworldcomparedtolastyear.AweakercurrencyhasalsomadeBritainandBrazilabitmoreaffordableindollarterms.Broadlyspeaking,Indiaremainsthecheapestmajoreconomyintheworldwithaweakerexchangeratecompensatingforhigherinflation(exceptforafewitemslikefuel).Chinaisstillcheaperthanmostoftheworldbutthegapappearstobegraduallynarrowing.Thedataalsoshowedmanyoftheidiosyncrasiesofpricesateachlocation.HongKongisexorbitantlyexpensiveifyouwanttorentofficespacebutcheapifyouwanttobuyaBigMacoraStarbuck’scoffee.SingaporeisacheapplacetogetanMBAbutnotifyouwantacarorapairofLevi’sjeans.IndiancitiesareusuallycheapbutpizzascostthesameasinNewYork.SaoPauloandMoscowarethemostexpensivedevelopingcountrycitiesinoursurveywithpricesoftenexceedingthoseindevelopedcountries,buttheyarecheapforcigarettes.Were-computedourthreeindices:“TheWeekendGetawayIndex”,“TheCheapDateIndex”and“TheGraduateRecruitmentIndex”.SydneyremainsthemostexpensiveplaceforaweekendholidayatalmostdoublethecostofdoingthesameinNewYork.MoscowandSaoPaulotooareveryexpensive.IndiancitieslikeMumbaiandDelhiarethecheapestbutKualaLumpurisjustasaffordable.Tokyowastherealsurprisewithaweekendgetawaynowcostingonly75%ofNewYork.Mumbai,DelhiandJohannesburgarethecheapestplaceforgoingonamovie-and-pizzadatewhileAustraliancitiesarethemostexpensive.EvenifSaoPauloiscostlyforaweekendgetaway,itisaffordableforamoviedate.SingaporeandBerlintooarequitereasonablypriced.MexicoCityisthecheapestmajorcityintheworldtohireanddeployaMBAgraduate.BerlinandSingaporealsoseemattractivefordeployingagraduate.Indeed,theyarenotjustcheaperthanmajorglobalfinancialcenterslikeNewYorkandHongKongbutevencomparedtoMumbai.3April2013TheRandomWalk:MappingtheWorld'sPrices2013Page2DeutscheBankAG/HongKongTable1:PricelevelsasimpliedbyPPP(US=100)Countries2012201301.Australia168.9158.902.Brazil102.894.803.Canada123.9119.804.China64.367.005.France120.5118.306.Germany111.7108.707.HongKong70.070.908.India39.738.309.Indonesia70.869.210.Japan132.5111.711.Malaysia61.861.912.Mexico66.169.513.NewZealand141.9135.314.Philippines58.461.615.Russia77.479.116.Singapore83.983.917.SouthAfrica71.262.718.UnitedKingdom108.3101.319.UnitedStates100.0100.0Source:InternationalMonetaryFund,DBResearchNOTE:ThePPPconversionratesaspublishedbyIMFhavebeenadjustedwithactualforeignexchangerates(ason27February2013)toderivetheimpliedpricelevels.Table2:TheBigMacIndexCountriesJan2012Jan2013RelativetotheUSUSDUSD1.Argentina4.643.8287%2.Australia4.944.90112%3.Austria3.924.60105%4.Belgium4.695.16118%5.Brazil5.685.64129%6.Britain3.824.2597%7.Canada4.635.39124%8.Chile4.054.3599%9.China2.442.5759%10.Colombia4.544.85111%11.CostaRica4.024.39101%12.CzechRepublic3.453.7285%13.Denmark5.375.18119%14.Egypt2.572.3955%15.Estonia2.593.6684%16.Euroarea4.434.88112%17.Finland4.765.09117%18.France4.574.89112%19.Germany4.484.94113%20.Greece4.194.48103%21.HongKong2.122.1950%22.Hungary2.633.8287%23.India1.621.6738%24.Indonesia2.462.8665%25.Ireland4.824.74108%3April2013TheRandomWalk:MappingtheWorld'sPrices2013DeutscheBankAG/HongKongPage3CountriesJan2012Jan2013RelativetotheUSUSDUSD26.Israel4.134.0092%27.Italy4.445.22120%28.Japan4.163.5180%29.Latvia3.003.2875%30.Lithuania2.873.0770%31.Malaysia2.342.5859%32.Mexico2.702.9067%33.Netherlands4.124.68107%34.NewZealand4.054.3299%35.Norway6.797.84180%36.Pakistan2.892.9768%37.Peru3.713.9