Global Wealth Management: 2012 Outlook

37 38 Economic Outlook in Key Markets Real GDP (Annual % Change) 2000-10 Country 2011e 2012F 2013F Avg. Mexico 2.1 3.9 3.0 3.7 Peru 5.5 6.8 5.5 5.6 Chile 3.8 6.2 3.9 5.5 Jamaica 0.8 1.5 1.2 1.5 Trinidad & Tobago 5.9 (1.4) 1.3 2.5 Costa Rica 4.1 4.2 3.8 4.0 Dominican Republic 5.4 4.6 4.8 5.0 Thailand 4.4 0.1 3.8 4.5 2000-10 2011F 2012F 2013F Avg. Canada U.S. Scotiabank 2.2 2.5 2.0 2.1 1.8 1.7 2.1 2.2 Source: Scotia Economics, as of March 6, 2012. Unrealized Securities Gains ($ millions) Q1/12 Q4/11 Emerging Market Debt 260 320 Other Debt 321 258 Equities 406 385 987 963 Net Fair Value of Derivative Instruments (255) (227) and Other Hedge Amounts Total 732 736 Scotiabank

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