You are on page 1of 56

2010

,
,

1.

12.2009
()

()

( )
( )
()

-1.3

12.2010
6.1

-3.2

10.0

-342.6

3.5

38.0

38.2

4.2

13


( .)

4023.1

6177.1


( .)

-252.3

-378.7
-

, 2010


2009 12 30-
377
,


,


2010
.

101
, 10


/2010
2010 /

.
337 35
. ,
118 56
. 480
180 .



20 ,
.


, , ,

, .

100.0 1
.


- .

.
,
, , ,
,
.


.


- 2010 11 2-4-
.
/2010 /

, ,

.
-
,
-
. - 10
, 10
, 30 ,
.
,
1.151.236 /
/ 61 .
, 70.0
2010 2 1- , 50.0 2010 8
1- .
, 94.6
.
2010-2011 , ,
2010 9-12
, 2011
, .
-
-
2009 .
,
,
.
,
, .
10 , ,
2010 , , 90
, 40 10
, . 1800

/2010 /

75
.
2010 4-5
, ,
, , - ,
1.6 . ,
2010
17- ,
,
.
- 13
.
125
, .

2010 11 11-17- ,
. ,
,
, , 6 ,
, ,
. 714,784 ,
2,650,673 . ,
, , , , ,
, 2011
2 , 7
.
III ,
. " III "-
2010 355.1 , 345.5 , 168
, 90.3 , 4.3 , 4.3
, 32.3 .
, 100 , 60.0
.
III ,
, , ,
.

/2010 /


. -
- 172 . 97.8 , 3.8
. . "-"
51 .

/2010 /

2.



2010 - 7.6 , 2
3.4 3 8.4
2010 6.1
4154.0 . - ,
6.3 ,
11.3 , 15.6 ,
23.4 . , ,
-
16.8 .
1. - //
15.0
10.2
10.0

8.6

8.9
6.1

5.0
0.0
2006
-5.0

2007

2008

2009

2010

-1.3



, , ,
. ,
.
, -
.
, ,

/2010 /

,
.
3
2010 312.2
355.1 , 168 , 82.3
, 100 , 60
. 2009
11.4 , 255.3
584.0 - .

.
, ,
, ,
,
.
, ,
, , ,

,
.
,
2010
2010
1196.5 2009 7.7 . 2010
91.8 , 16.7 , 2.3
756.4 2009
6.3 . , ,

. , , , , ,
. ,

2010 2.2 .
11.3 ,
260.7 .
, , ,
.
/2010 /

59.8
2009 15.6 . ,
2009 71.4 25.6 ,
75.9 30.3
.

1687.4
2009 4.6 . 2009
2010
23.4 .
2009 62.4 ,
, 53.3
2009 34.4 5058
.
, ,

9.1 . 2010
2009 18.7 29.4 .
2009 54.2
77.1 , 61.0 ,
66.7 .

2009 ,
1.3 2010
- 6.1 . 2009
, 2010
. -
. ,

.

/2010 /





2010
4468.2

68.5 3062.6


.
2.

/ 2010 , /

,
70.6
, 2009
21.0

4.7

70.6
,



,
21.0
1.0 3.7 ,

,
,

8.4 1.0
.
8.4


,




,
.


,

100 ,

92.9
, 89.4 ,
64.2 ,

47.1 ,
4.2

.


2010 12 54289
2009 3.3 1715 .
2010
36.5
2009 1.9 5.5 .

,
0.1
0.2
,
2.0 8.3 , ,
, ,
, 0.8 5.5
.

/2010
2010 /


2010 2009

. 2009 4
. 2011
.
. :

: , ,

.
:
, , ,
.
, :
,
, .

2010
. ,
2009 38.4 , 20.4
.
34.2 ,
48.0 .

2010 ,

2009 10.0 .


.
, 2010
2010
3069.9 , 374.0 13.9
, 2009 54.0 1076.9
. .

/2010 /

10

,
.

, .
2010 2009 2154.0
. 53.5 .
, -
14.5

.
1. ,





-


,

,




-

1

1,993.0
1,965.5
1,615.3
520.0
205.4
128.1
186.5
257.3
11.0
508.7
116.0
202.3
350.3
3.0
24.5

.
2

2,695.9
2,668.3
2,321.4
808.6
309.3
149.8
349.5
280.8
11.6
764.3
165.3
290.8
346.9
5.6
22.0

2010

.
.
3
4
( )

(4 : 3)
5

(4 - 3)
6

2,695.9
2,668.3
2,321.4
808.6
309.3
149.8
349.5
280.8
11.6
764.3
165.3
290.8
346.9
5.6
22.0

3,069.9
3,027.3
2,673.6
974.0
390.6
160.2
423.2
321.7
13.6
863.5
193.3
307.5
353.7
8.0
34.6

113.9
113.5
115.2
120.5
126.3
107.0
121.1
114.5
117.1
113.0
117.0
105.8
102.0
142.7
0.0

2010
3066.4 , 107.8
.

, ,
, , ,
30.0 ,
12.6
.

/2010 /

11

374.0
359.0
352.2
165.4
81.3
10.5
73.6
40.8
2.0
99.2
28.1
16.7
6.8
2.4
12.6

305.1 ,
10.9
. 94.5
489.9 .

80.0
,
10.2 ,
, , 12.3
, 7.1
.

170.7 ,
36.5 , - 760.0
.
2. ,



,


,



:



-

1

.
2

2,321.6
1,792.1
969.5
578.9
54.7
390.7
29.0
793.6
457.9
431.6
26.4
71.6
173.4
-328.6

3,174.2
2,359.6
1,190.2
653.3
63.2
536.9
55.0
1,114.4
654.1
615.8
38.2
160.5
308.7
-478.3

2010

.
3

.
4
( )

3,174.2
2,359.6
1,190.2
653.3
63.2
536.9
55.0
1,114.4
654.1
615.8
38.2
160.5
308.7
-478.3


(4 : 3)
(4 - 3)
5
6

3,066.4
2,251.6
1,166.9
650.6
61.7
516.3
41.9
1,042.8
567.6
554.4
13.2
247.2
775.7
3.5

96.6
95.4
98.0
99.6
97.7
96.2
76.3
93.6
86.8
90.0
34.5
154.1
251.3
(0.7)

2010 478.3
2010
3.5 .
2011 1

/2010 /

12

-107.8
-108.0
-23.4
-2.7
-1.4
-20.6
-13.0
-71.6
-86.5
-61.5
-25.0
86.8
467.0
481.7

, 2011 1
96 ,
260 .
,

( )

( )

-
, ,
, ,
, , ,
.

.
.

2011 ,

2012 ,

2013 ,




,
12

/2010 /

13


/ 50
40 40
10

/2010 /

/ 60
40
20

/ 50

40
10

14

3.


-
2010 3 2010 11 .
2009 4.7
4.9 , 1.9
.
11.8 , 10.4
1.8-3.2 , 8.0 , 7.3 ,
6.1 0.6-2.5 .
3. 3

2008.

2009.

2010.

.
.

1735.4
1066.7

1845.7
1137.1

1932.8
1192.7

981.5

1018.1

1089.6

85.5

119.0

103.1

668.7

708.6

740.1

61.5

61.6

61.7

89.5

91.4

10.5

8.6

15

92.0
8.0

( 2010
3 2009 3 ),
2009 46.9 ,
5.5 , 19.1
, 71.5 .
2
, 0.6 ,
1.4 .
,
.

/2010 /

15

,
2010 12 38.2 , 2009 0.4
.
4.

2009. II

2010. XII

38077

38250

75569

64328

51700

46335

57996

61413

22568

18085

50064

47754

,
24.0 16-24 , 34.0 25-34 , 24.3 35-44
, 17.7 45-59 . 82.3
25-44 .

.

,
,
,
,
, .
12 , 27 ,
23 ,
, ,
, , ,
. 2010 26.1 ,
/2010 /

16

, 7.0
, .
,
, , , ,
, , , , ,
, , ,
, , ,
, , , ,

47.7
.
,
, -, , ,
2.8 , 3.2
, , 124 , ,
11.9 15.9
. 70.0
, 27.7 , ,
.
, ,
,
.
, , , ,

, 2010 3 15 .
12 267
9039
.
,

,
- , ,
, .
, 22.6
21.3
.
/2010 /

17

,
, , , ,
,

. , , ,
86 3.1 19
.
- , ,
, , , , ,
, , ,
1000 12
.


,
.

2011

. :
-

,
, , ,
, , ,

,
,

,
, ,

, ,
,

, , , ,
, ,

/2010 /

18

, ,
,
,
.

/2010 /

19

4.


2010
,

, ,
2010 13
. ,
5

13.1
2010 11

12 22.4
13 .

3.. 2010 / /

13.1

14

13
11.4

12

10.3

9.7
9

10

8.3

8.3

8.7

7.4
8
5.4
6
4

2.3

2
0
I.10

II.10

III.10

IV.10

V.10

VI.10

VII.10 VIII.10 IX.10

X.10

XI.10

XII.10

2010 12
.
2000

.

/2010
2010 /

20

4.
1.04
1.03
1.02
1.01
1
0.99
0.98
0.97
0.96
2001
2006

2002
2007

2003
2008

2004
2009

2005
2010



.

. /-5/
5.
60.00

40.00

20.00

-20.00

2006m12
2007m2
2007m4
2007m6
2007m8
2007m10
2007m12
2008m2
2008m4
2008m6
2008m8
2008m10
2008m12
2009m2
2009m4
2009m6
2009m8
2009m10
2009m12
2010m2
2010m4
2010m6
2010m8
2010m10
2010m12
2011m2
2011m4
2011m6
2011m8
2011m10
2011m12

0.00

( , )

/2010 /

21


. 16
,
2010

.
6. ,
,
70
. 287
, 158

30 .

5%
20%

33%

6%
6%

2010

. 80
, , ,
, .

30%

5. 2010

II

III

IV

VI

VII

VIII

IX

XI

XII

2.6

2.1

2.3

2.2

1.1

1.2

1.1

1.1

1.2

1.1

1.5

7.2

6.5

5.8

5.5

6.1

7.5

8.1

8.8

1.5

2.7

2.4

2.8

3.1

2.9

3.3

3.5

3.6

4.4

5.1

4.6

3.07

2.69

2.31

2.57

2.66

2.58

2.6

2.6

3.6

4.1

3.3

3.5

-1.3

-1.1

-1.1

-1.2

-0.9

-0.7

-0.9

-0.9

-0.6

0.2

0.1

0.0

2010
8.8 30.1 4.6
. 2010
200 , 1258.17

/2010 /

22

,
.
, , 2010
. , 2010 , 13
57.9 , 12.7 ,
.
7.

,
, 3.3

,
, 8.0
,
, , 0
.6

,
,

, 1.0

, , 0
.9

, 0.9
, ,
, 0.2

,
, 2.9

, ,
, , 10.7
,
, , 12.7

, , 0.9

, , , 57
.9

, , , 2010
10.7 , 8
.
2008 ,
90 2010
, 50
, 13 6.6 .
2009
, . 2010
62.5 , 25.3 , ,
3.3 , 2.2
.

/2010 /

23

2010 ,
120 , ,
, , ,
,

13 .
2011 ,
, .
: , ,
, .
1. - ,
2011 21
500
,
. , ,
,
.
2. 2011
.
3. , 2010
17.35 , 14.5 .
,
,
,
, , .
4. ,
, ,
, ,
,
.
5. , 2008
, 2011
,
, ,
.
: 580

.

/2010 /

24

37
, 6
. :
1.
2.
3.
4.
5.
6.

, ,
, ,
.

/2010 /

25

5.



, 2010 2009
53 , 6.2 . . 2009
132 , , , -
.
,
. , ,
.
8. / 2005-2010 , ./
3245

3278

3150.0

2899

6177.1

2535 5779.0

2650.0
2150.0

5500.0
2138
1885

2062
1948

5000.0

1435.0

1650.0
1177.3
1150.0 1063.9

4500.0
4009.3

1542.0

4000.0

4023.1

650.0

3500.0
107
2977.0

150.0
-350.0

6000.0

-113
2005
2241.2

3000.0
-114

2006

-850.0

2007

2008

2009
-252

2010
-379

2000.0

-710

2500.0

: ,

2010 98
.
,

.
,
, ,
, -
2010 1 8- 6
. 2010 3
/2010 /

26

10.9 , 2009 2.2 ,


.
,
4 , ,
, 3 6.2 ,
,
2 .
, ,

. , 2009
2.2 , ,

1.3 .
,
2009 36
, .

9. /2006-2010 , /

100%
90%
80%
70%
60%
50%
40%

10.4

10.8

14.1

12.7

18.9

20.6

18.7

19.8
20.9

6.8
5.0

8.0
5.2

8.3
4.7

7.7
6.0

31.4

29.2

29.7

26.7

23.2

6.7

7.7

7.1

8.3

7.3

2006

2007

2008

2009

2010

30%
20%

19.4

6.2
6.3

,

,
,
,
,

10%
0%

/2010 /

27

10. , //
100%
15.1%

90%
80%

37%

28%

28.6%
35%

70%
60%

50%
83.2%

40%
30%

60%

68%

62%

69.1%

20%

10%
0%
2006

2007

2008

2009

2010


,
.
, ,
, , ,
.
, ,

.
,
,
.

/2010 /

28

6.


,
, 2010 3
.
. ,
. 2009
20.3 2010 3
. ,

. 2009
14.7
51 .
,

.

.
2010 9 30-
11.1
11.8 .
.


.


.
2010 3
2009 85 .
2010 3
12.5 2009
8.8 .

/2010 /

29


.


. ,

.

,


.

2009 0.6 , 3.4
2010 , 5
. , ,


. ,
2.3 16.6 -, 2.2
3.5 - .
2010
, .
.
2010 1 1 . 1455.7
,
, 2010 12 31- 1
. 1258.17 200 .
.
,
,
.

/2010 /

30

11.

USD/MNT
1500

2,500.00

1450
1400

2,000.00

1350
1300

1,500.00

1250
1200

1,000.00

1150
1100

500.00

1050
1000
2009 01
03
05
07
09
11
2010 01
03
05
07
09
11

12. m //

. Bloomberg Businessweek

.
.

/2010 /

31

13. .
,, 2010
(%)
20

10


2010
2010
. .
2010 .

.
2010 .


.

,
,

. 1959

.
.
,

.



,





,

.



.
,
,
, ,


.

/2010
2010 /

32

. ,
287 , 158
30 .
2010 .
2011 40
, 72 3.6 .

. 2011
. 3 , 1222 .
3 , 30
, 1

.


.
. 5555
10
.
6.

10

, ,

-402.7%

-89.6%

-24.3%

-14.5%

-11.3%

-8.1%

-6.9%

, , , , ,

-1.8%

/2010 /

33



2010 253 136
64.5 62.9 , 3000
30.0 , 92.9
.
67.7 62.9
, 32.3 30.0
.
2009 39.7
171.1 .
7. 2010 2009


2009

2010

30.0

(
)

23.2

62.9

+ 39.7

+171.1%

( )

89.9

64.5

-25.4

-28.3%


255.0 ,
248.5 .
(1539.3%), (1455.8%), (1128.4%),
(700.0%), (519.1%), (499%),
(438.1%), (326.7%), (320.0%),
(304.7%), (293.9%), (266.7%), (215.9%),
(200.0%) .

/2010 /

34

14.
600000
500000
400000
300000
200000
100000
0


2010 09 17- 3799
30.0 3,000
. . 7.5
365 1500 , 7.2 700
, 7.29 800 7.8 546
1500 , 7.79 1117 7.8
383 .
- 44.2 .

2009 753.2
2.2 , 1 373.9 .
/303.3 /, /220.2 /,
/174.4 /, /147.8 /, /90.5 /,
/75.9 /, /43.7 / .

/2010 /

35

15. / /
1600

1320.1 1373.9

1400

1180.2 1173.9

1200

1021.5

1000
800

642.5

713.4

833.8

842.3

793.1

768.4

828.4

600
400
200
0
1

9 10 11 12

-20
-20 15039.97 ,
6144.28 , 10582.80 . 2010 12 31-
-20 2009 8569.9 2.4
14759.81 .
-20 2010 , 2010 09 08-
15039.97
.
-20 /519.1%/,
/499.0%/, /324.2%/, /326.7%/, /215.9%/,
/200.0%/, /85.0%/, /64.1%/, /57.1%/,
/56.5%/, /56.3%/, /52.8%/ -
.

2010
.

. 8.06 ,
1.4
. 2010 136.51
.

.

/2010 /

36


. ,

.


-20 , .
2010

. 2010
70- .


.

-
.
,
.

/2010 /

37

7.

2010

, ,

.
- - 10.3
2005 39.7 /6 ./ 3
.
2010 5.9 0.7
3 2.9
.
.
3 , 2
,
.

,

, ,
,
,
.
12 2010 2011

.
, ,
, ,
.
, , ,
, , , ,
/2010 /

38


.
-
, , - 3
2010
39.79 2009 10.3
. 2009 1.1 .
11.9 , 10.3 , 9.6
, 9.8 .
16. - //

10.6 10.1

10.7
9
6.8

7.9

11.9
10.3

9.1

9.6

9.8

6.1

2008
I

2009
II

2010
III

IV

4.3 ,
12.2 , 9.5 . -


.
- 5.6 , 3.9
92 .
- 7.9 0.8
.
,
12 2009 4.6
0.5
.
/2010 /

39

172. //
6
5.1

4.6

4.4
4
3

2.8

2.7

3.3

3.1

3.6

3.5

2.9

2.4

2
1.5
1
0
2010.XII

2010.XI

2010.X

2010.IX

2010.VII
I

2010.VII

2010.VI

2010.V

2010.IV

2010.III

2010.II

2010.I


2011
.

, ,

. 2010 ,
2.978 . 2009 34.7
. 1.577 , 1.394 .
183.1 . . 2009
6.4 .
,
.
. 2010 1 1 . 6.82
9 6.74 . 12
6.5
.

.

/2010 /

40

,
,
6 ,
19 , ,
16 .
2010 2 2008
.
2010 ,
.12 72.6
, 26.7 ,
4.5 . 12 2009
19.7 2009 21.2
.

.
47.9
2010 7.9 . 2010
7.95 2009
1.65 . 2010 7.5

.
2010 2.84
. 2009 18.7 .
18. / ./
250
200

194

199

150
100
50

47.9
0.72

0
2010.I

/2010 /

2010.II

2010.III

2010.IV

41


2010 8.3
2009 1.45 21.3 .
8.95 2009 1.32 17.4
. 650
- 1.6 .
19. / /
10000

8957
7584

8000
6078
6000
4000

4956
4042

2000
-166

0
2006

176
2007

-737

55
2008

2009

-649
2010

-2000

2011

2011 ,
- 9.5 .
- 5.2 , 4.0 ,
0.6 .


.
,
,
.

/2010 /

42

2011 2 9-
0.25
.
.

.
2010
54 .
, , 2011
4
.
2011
2008-2009 ,
, ,

.
2010
-
. - 2011 3.1 ,
2012 3.5 .
- , 2011

.
.

, .
, , - ,

. - 2011

, ,
.
.
II
, . -
.

/2010 /

43

- 2010 2.6 2011 2.2 , 2012 2.8


.

4 .
2011 3.5-4 .
.
- ,
2011 1.3 , 2012
1.7 . 2010 1.6
.


.
, ,
.
.
,
2010 .
.

2010 4 . 2011
2012 .

2011-2012 6 2010 7 .
,
2011, 2012
7 .
4
2010 - 5.6 .

.

.
, 2010 5.5
2011 4.7 , 2012 4.4 .

/2010 /

44

.
2011, 2012 5
, .

,
.

- 2010 6

2010

2011

2012

2010

2011

3.6

3.1

3.5

0.6

-0.1

2.3

1.9

2.3

0.4

-0.2

1.6

1.3

1.7

0.7

-0.2

2.7

1.1

1.4

1.4

-0.2

1.8

2.1

2.6

0.7

-0.2

2.6

2.2

2.8

0.7

-0.2

3.8

4.0

4.2

-0.1

0.6

3.9

3.7

3.9

-0.4

0.7

7.1

6.0

6.1

1.2

0.2

4.7

5.0

5.1

0.0

-0.3

7.1

6.5

5.8

0.6

-0.5

2.6

3.2

3.2

-0.1

-0.3

8.4

7.1.

7.3

1.3

0.2

10.1

8.9

9.0

0.9

0.1

8.4

8.2

8.4

0.5

0.1

5.5

4.7

4.4

1.3

0.6

4.0

3.5

3.0

1.1

0.4

7.4

4.6

5.0

3.9

1.3

/2010 /

45

5.2

5.5

5.7

-0.4

-0.1

10.5

6.6

6.5

..

..

4.5

4.0

4.4

0.6

0.0

:
.
.

-
.
2007 2009 30
.
.
2010 -

. 2010 3- 9.6 2011
10 . ,

.

7.5 2010 10.1
. 20.5 . -

.
2010
2011 5 .
.
- ,

.
,
.
/2010 /

46

- ,
.
.
2009 , 2010

.
22
.
5 .

- 2010
.

.
, 2011
.
( 1 ).

.
,
. ,
. - ,

. .
, , ,
.

. ,
,
.
5

.
2010
. ,
5
- .

/2010 /

47

,
.
,

.
, , ,
, ,
.
, ,

.


, , .
, -

.
, ,
,
, ,
.

. - ,
20-
.





2011
.

, .
,
.

2010 , 2011

.
.

/2010 /

48

20-
.
,
. .
,
,
.
. ,
.

. .

. ,
,
.
.

. ,
, ,
.

. ,
.
, .
,
. ,
,
. -20 ,
.
2011
-
- 2011 3.5
.
.
-
. 2010 - 3 ,
10 . S&P 500 12
/2010 /

49

/Dow Jons/ 10 , /Nasdaq/ 16


.
20.
/2009 12 2010 12 /



0,7-2
. 5
, 2011
1.9

.

,

,
- .
. - 2011 3.5
2010 11 9.8 9
.
2.5
.

.
, .

.

.
2000 3- 2- .
0-0.25 .

3-4 .
-
.
,
.

/2010 /

50

- , 2011 2
.
2 1 .
2010 11 3-
600 .
, .
, 2012 2
.
4
.

2010 3 .
8. 2011

()


()

2011

2011

2011

2011

6.7

3.3

2.8

2.8

1.2

2.6

4.6

1.5

-0.3

2.3

5.0

3.5

3.0

-2.3

5.1

3.2

5.5

-4.4

5.8

4.5

2.7

6.9

3.7

4.5

3.4

2.9

3.3

4.4

1.5

9.5

4.9

4.7

3.0

8.3

4.1

4.5

2.4

18.4

2.2

8.4

4.2

3.0

9.6

2.7

5.1

4.0

8.4

6.7

-3.1

/2010 /

51

5.4

4.4

2.4

6.2

5.5

0.1

7.0

4.0

2.8

2.5

1.4

4.5

4.0

3.4

7.2

5.3

2.1

13.8

3.2

6.8

8.0

-8.1

5.0

4.6

9.6

-1.3

, 2011

.

.
21.
/2009 12 2010 12 /

7.5

.
, 2010 11
7.9
2010 4
11
.



. 10
, .
4-5
.

.

/2010 /

52

110-120 .
. ,
.

.

. , ,
.
2011
, , ,
, ,
2011 , , ,
. 2014
- 9 . -
- 19 45
.

.

. 2011
.
2011
.
2010 .

.

.
. , 2011 .
. 2011
,
2011 .
,
2011
.

/2010 /

53

2008

2009

2010

2011

0.7

-4.7

3.7

2.6

0.1

-2.5

1.6

1.5

-1.3

-5.1

1.1

1.2


. -
2.3, 3.2, 3.3
. 5.6 . 10
- 7.4 .
2011 .

.
. - 1.6
2 .

22.
/2009 12 2010 12 /

/2010 /

54

8.

, 2010 ,
, ,
, ,
, ,

. 2010 ,
, , ,
, ,
, ,
, . ,
2010
,



.
,
.
2010 2009
. 2009 6.1 ,
.
,
1.8 2091.2 . ,

.
2009 , ,
,
. 2010 51
, 14.7 ,
22.9 .
,
. , ,


. 2010

/2010 /

55

,
.
.
, ,
, , ,
,
.

, ,
,
. 2010

, .
,
.
2010 , ,
,
. 2010 , ,

,
, , ,
, ,
, ,
.

/2010 /

56

You might also like