Asian Exports And Imports Grew By More Than 35% In Q2
Asia is less affected by the Global Financial Crisis then other regions, Asian exports and imports grew by more than 35% in Q2 on a year-on-year comparison to 2009. Mr. Suraj Aggarwal, Regional Head of Trade and Export Finance in ICICI Bank (Singapore), believes that Asia will remain strong.
- (1888PressRelease) November 20, 2010 - The landscape of trade and export has been changed dramatically over the past two years. The world's merchandise exports fell 23% to $12.15 trillion in 2009 after the global economic downturn, while world commercial services exports declined 13% to $3.31 trillion.
According to the IMF forecast, Asia is expected to enjoy an average of 7.1% GDP growth in 2010 & 2011.
"The large Asian economies namely China, India, Indonesia, Vietnam are heading towards huge expenditure to the extent of about $2.75 trillion over a period of next 5 years. This would definitely lead to substantial increase in demand for various commodities (i.e.: metals, coal). About 43% of Asia's exports are intra-regional trade. More and more projects in Asia are supported by the Asian ECA's." Suraj said.
"Intra-Asian Trade will continue to grow." Said Emmanuel Alfieris, Head of Trade & Asia, Transactional & Client Services, WESTPAC . "This is a part of the world with significant manufacturing competitive advantages, a large upwardly mobile population and improving economic purchasing power. In addition to historical and cultural ties, proximity of these markets with each other also supports increasing trade flows. The soft and hard commodity demand from these economies and Australia's proximity to this region is a key determinant of our trade flows as well." He added.
Suraj Aggarwal and Emmanuel Alfieris will be speaking at Trade & Export Finance Asia 2011 which will be held on the 23rd and 24th of February, 2011, Singapore. They will be evaluating Asia's trade flow and market outlook for metals, soft commodities, energy and infrastructure export finance through the sector-specific discussion on trade activities and financing along with other speakers.
To know more details, please send us an email at enquiry ( @ ) iqpc dot com dot sg or visit our website www dot tradeandexportfinanceasia dot com
About IQPC Worldwide:
For over thirty years, IQPC has helped the world's leading corporations solve their business challenges through the sharing of practical industry solutions and global best practice. In the process, the company has built a formidable reputation for quality and value. The world's most progressive companies have benefited from IQPC's unrivalled global reach, which has connected international expertise with regional and local leaders.
For more information, please contact:
Indre Riley
IQPC Worldwide
Tel: +65 6722 9404
Email: Indre.Riley ( @ ) iqpc dot com dot sg
Disclaimer: The views expressed here are personal opinions of Suraj Aggarwal and do not reflect the positions or opinions of ICICI.
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