India set to be fastest growing trade market in the world: HSBC Global Trade Forecast
Australia's dependence on Asian markets for commodities shipments will continue during this period, recording an annual growth of (ex-Japan) 6 percent during 2013-15.
Hong Kong's exports are forecast to more than double from 4.8 per cent in 2012 to 11.4 percent annually through 2013-15. Although China will remain Hong Kong's most important trading partner, other developing East Asian nations will become increasingly important, with exports to Vietnam growing 8 percent in the decade to 2030.
India set to be fastest growing trading nation
(PR Newswire) Emerging Markets to Drive Global Trade Rebound The HSBC Trade Forecast highlights India's critical role in world trade growth over the entire period till 2030.
As per the Forecast, India represents the fastest growing import or export partner (or both) between 2013-15 or 2016-2020 for 23 markets. India's trade growth can be linked to its growing consumer wealth and emerging middle class; investment in infrastructure development; the impact of Foreign Direct Investment (FDI); its diverse range of exports and a move to produce goods higher up the value chain, and its developing role as a supply chain hub for Asia.
'Dual speed' growth driven by South-South trade- The HSBC Trade Forecast is outlining a dual speed trade rebound as South-South corridors become more established, driving growth to 2015. before being rejoined by the developed world in the later part of the decade.
According to the HSBC Trade Forecast, powerhouses India and China will
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