INDIA KEEPS TOP SPOT ON NOV EXPORTS JUMP

India claimed the first rank among its emerging markets peers for the second time in a row in November. A turnaround in exports, aided by a low base, gave it a significant lead during the month.

- BY PAYAL BHATTACHARYA & PRAGYA SRIVASTAVA

EMERGING MARKETS TRACKER

Launched in September 2019, Mint's Emerging Markets Tracker provides a summary of economic activity across 10 large emerging markets₹ based on seven high-frequency indicators. India retained the first position in for the second time in a row in November, while Malaysia is at the second position and Brazil at the third.

A sharp rise in exports in November, aided by a low base, helped pull India sharply ahead of other emerging Emerging Market Tracker, even as the rupee and stock market remained weak. India, with a composite score of 71, was way ahead, while Malaysia and Brazil came a distant second and third with composite scores of 62 and 59, respectively.

Malaysia rode on a strong performance of its currency (up 1.6% month-on-month) and export growth (up 15.8% year-onyear). Thailand gained from the best performance in manufacturing purchasing managers' index (PMI) at 58.8.

China, the strongest contender along with India on the list, slipped to the fourth rank from the second in October as its export growth (5.9%) paled against Malaysia's, and only a 0.2% month-on-month rise in its currency and stock-market capitalization kept it behind both Malaysia and Thailand.