NEW DELHI: The WTO outlook forecasts Asian economies to contribute 4.0 percentage points to the 3.9 per cent increase in global merchandise trade volumes this year – effectively accounting for more than 100 per cent of the total growth.
Asia’s merchandise exports are forecast to surge 9.9 per cent this year, the fastest growth of any region. North American exports are expected to rise 5.7 per cent and African exports 5.6 per cent.
Southeast Asia has a very strong revealed comparative advantage in AIrelated products,” said Staiger, pointing to the region’s roles in the AI supply chain as a manufacturing base and as a connector linking different stages of production.
By contrast, European exports are forecast to dip 0.1 per cent, while exports from the Middle East are expected to plunge 17.2 per cent amid the ongoing conflict and associated disruptions.
