S&P Global BMI has announced its annual reconstitution, including the reclassification of Greece, Qatar and the United Arab Emirates (UAE) as emerging economies, as of 22 September.
While Greece’s status changes from developed to emerging economy, Qatar and the UAE’s status is altered from frontier to emerging markets. Greece, Qatar and the UAE will represent approximately 0.8%, 0.9% and 1.0% respectively of the S&P Emerging BMI. The largest countries in the S&P Emerging BMI will be China (24.0%), Taiwan (14.1%), Brazil (11.3%) and India (10.0%).
The reclassification of Greece, Qatar and UAE by S&P Global BMI follows that of other indices such as MSCI, which reclassified the three countries as emerging economies last year.