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ort volumes split per region in 2014 Chart 62: Saudi Arabia oil product slate in 2014 1% _ 1% 20.1 13.0 449 11% 56% 203.4 12% 43.7 mNorth America South America Western Europe mLPG = Naphtha m Gasoline m Jet Fuel m Middle East m Middle Africa Asia and Far East m Diesel Fuel oil _m Asphalt Source: Ministry of

and Far East Saudi Arabia exported c.1mbpd of oil products in 2014, mainly to Asia and the Far East (56%), other Middle Eastern countries (19%) and Western Europe (12%). Chart 61: Oil product export volumes split per region in 2014 Chart 62: Saudi Arabia oil product slate in 2014 1% _ 1% 20.1 13.0 449 11%

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ecasts 12.9 13.0 13.2 2.00 2.03 2.08 Russia Turkey 3M 6M 12M Poland Zloty/US$ (Fwd. Rates) Ruble/US$ (Fwd. Rates) Lira/US$ (Fwd. Rates) South Africa Rand/US$ (Fwd. Rates) Forint/Euro 296 280 280 280 EFTA01464482 (Fwd. Rates) 25.6 25.6 25.6 19.6 19.2 19.6 19.8 19.6 19.6 19.5 299 302 306 226 21

.1 -10.4 -12.5 6.5 -1.4 4.0 7.5 -61.3 EFTA01464546 5.4 -7.5 -8.1 9 8 6 1 -1.5 -6.9 1.8 -5.0 6.0 -1.8 11.5 -1.4 11.2 4.6 11.6 Western Europe -59.4 -64.8 -88.4 -98.9 -112.8 -125.6 -118.5 -109.0 -93.9 -61.1 -60.8 -63.2 -66.4 Germany -29.1 -29.1 -35.9 -39.3 -45.8 -50.6 -47.9 -44.7 -43.0 -2

Executive Officer, Philips Healthcare Patrick Khulekani Chief Executive Officer and Managing Development Bank of South Africa Dlamini Director Southern Africa Vladimir A. Dmitriev Chairman State Corporation Bank for Russian Federation Development and Foreign Economic Affairs (Vnesheconombank) Kirill

), New York Chief Operating Officer Vice-President, Beer and Better World Group Head, Human Resources and Communications Vice-President, Sales, Western Europe, Africa and Middle East President, Chairman of the Board and Chief Executive Officer Senior Vice-President, Global Initiatives, Strategy and Bus

f the world's economy that is integrated into the trade system moved back to a pre-Lewisian state with excess subsistence labour in Asia, Africa and South America competing with Western labour. It is the belief of the author that, at the time of writing, the richer, industrialised, countries are currently si

cialist paths; almost all of the rest followed a route of import substitution behind high tariff barriers. Following rapid post war growth, most of Western Europe and North America went through a period in the fifties and sixties with full employment and ongoing labour shortages. Meanwhile the few poor or poo

ty. Due to rounding, sane figures in this report may not add up exactly to the totals stated. Sales by region' Other 3% Germany 10% Central and South America 7% Other European Countries 31% North America 20% • Elylocation of customer. Nutrition & Care Key figures in million 2015 2014 External sal

win over a growing number of customers. Increasing prosperity and rising local birthrates are driving this business. Whereas the diaper market in Western Europe and North America is growing by less than two percent, and in Japan incontinence products and baby diapers are being sold in equal numbers, the re