Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Mexico, Indonesia, Nigeria and Turkey’s (MINTs) Per Capita Income (PCI) has averaged $3, 450.40 according to a March 2013 Economic Update Report from Analysts at INVESTMENT ONE Financial Services Limited.

According to Analysts at INVESTMENT ONE, Per Capita Income in the MINT countries regarded as current Frontier Markets serving as the major investment destination is high amongst the G6 Nations, “the average of MINT economies at $3,450.40 surprisingly surpassed that of Brazil, Russia, India and China called the BRICs” the Report said.

INVESTMENT ONE Analysts say Nigeria’s 2011 GDP per capita of $565.99 remains the lowest amongst the G6 Nations, BRICs and MINT Nations being reviewed.

The Report said the demography (population) of the Emerging Nations (made up of BRICs and some MINT economies) have continued to attract both Direct and Portfolio Investments in the Consumer Goods and Energy Sectors. “Looking at the infrastructural deficit and growing population of these nations, we believe the opportunity to grow Per Capita Income is enormous in these economies” the INVESTMENT ONE Analysts said.

The further affirmed it’s an accepted fact that the MINT economies are growing at a faster rate and the potential for growth in the future are enormous due to resource endowment.

For the “MINT” economies currency, INVESTMENT ONE Analysts affirmed that the Indonesian rupiah has strengthened the most, appreciating by 9.43% over the last 52 weeks. “Demand side pressure in the last couple of sessions has forced a marginal 0.73% devaluation in the local currency” the Report said.

On the other hand, the Turkish Lira and Mexican Peso have also shed 6.32% and 8.83% respectively in the last 12 months.

Whilst the Rupiah comes way ahead of the pack, its believe the continued accretion of Nigeria’s external reserve (3M growth of 8.12%), tight monetary regime and improved fiscal discipline provide comfort of relative stability for the local currency. “The continued stability would continue to provide incentive for Foreign Portfolio Investment (FPI) since currency risk on investment is mitigated.

Click to read full Economic Update March 2013 “Nigeria Leads the MINT”