Country Ranking Model - January 2022

January Country Rankings

Norway (#1): Norway remains in first place with very strong fundamentals, valuations and risk.  Norway’s economy looks resilient as global economic growth decelerates. Export revenue from energy commodities reached a record of $170 billion in 2022 due to a combination of high prices and greater production. Gas production at last year’s elevated level looks sustainable until at least 2026 thanks to $30 billion of investment in new offshore fields. What’s more, Norway’s inflation slowed to 5.9% in December, the weakest pace in seven months, and is likely to reduce speculation that the central bank will be forced to extend its interest-rate hikes.

Brazil (#2): The Brazilian Real outperformed other Emerging Markets in Latin America in 2022 and the country continues to demonstrate very strong fundamentals. For example, ROE is the highest in our universe. Brazil is one of the world’s most important countries when it comes to mining, agriculture, and manufacturing but it also has a strong and rapidly growing service sector. Urbanization has led the city of São Paulo, in particular, to become one of the world’s major financial and commercial centers.

Chile (#3): Chile’s number 3 ranking is supported by the most attractive valuations in our universe. Price to Book and Earnings Yield in particular suggest that Chile is a bargain. Additionally, Fundamentals and Momentum have improved since last month. 

Country Performance

Country Ranking Model

Disclosures: This information was produced by and the opinions expressed are those of Accuvest as of the date of writing and are subject to change. Any research is based on Accuvest proprietary research and analysis of global markets and investing. The information and/or analysis presented have been compiled or arrived at from sources believed to be reliable, however Accuvest does not make any representation as their accuracy or completeness and does not accept liability for any loss arising from the use hereof.  Some internally generated information may be considered theoretical in nature and is subject to inherent limitations associated therein.   Any sectors or allocations referenced may or may not be represented in portfolios of clients of Accuvest, and do not represent all of the securities purchased, sold or recommended for client accounts.

The reader should not assume that any investments in sectors and markets identified or described were or will be profitable. Investing entails risks, including possible loss of principal. The use of tools cannot guarantee performance. The charts depicted within this presentation are for illustrative purposes only and are not indicative of future performance. Past performance is no guarantee of future results. Actual results may vary based on an investor’s investment objectives and portfolio holdings. Investors may need to seek guidance from their legal and/or tax advisor before investing. The information provided may contain projections or other forward-looking statements regarding future events, targets or expectations, and is only current as of the date indicated. There is no assurance that such events or targets will be achieved and may be significantly different than that shown here. The information presented, including statements concerning financial market trends, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons.