- DHL
Global Trade Barometer forecasts accelerating trade growth for Asia’s four
largest economies - Air
and ocean freight volumes expected to rise, supporting the economic development
of South Korea, Japan, China and India
The Asia Pacific region’s booming economy looks
set to power global trade growth in the coming quarter, according to data from
the DHL Global Trade Barometer released by DHL, the world’s leading logistics
company. The DHL Global Trade Barometer, an early indicator of global trade
developments calculated using Artificial Intelligence and Big Data, predicts an
overall positive outlook for all four of Asia’s largest economies.
“Asia’s
economies are clambering towards new levels of growth not seen in recent
times,” said Kelvin Leung, CEO, DHL Global Forwarding Asia Pacific. “The DHL
Global Trade Barometer’s latest findings highlight that Asia’s trade
fundamentals — and indeed those of its biggest trade partners — remain robust
enough to warrant optimism in the near-term, particularly those industries
directly involved with manufacturing and production for the region’s burgeoning
consumer base.”
China’s
imports and exports of industrial raw materials both saw major increases in
March, buoying the country’s ocean and air freight volumes for the quarter. At
the same time, other sectors like high technology and consumer fashion are
expected to decline in the next three months — but not for lack of domestic
demand. “We’ve begun to see the effects of ‘Made in China 2025[1]
on China’s trade footprint, driving up production of high-tech goods locally at
the expense of imports,” said Steve Huang, CEO, DHL Global Forwarding Greater
China. “We can expect sectors like information technology, robotics, and
biopharma — along with more prosaic items like personal and household goods —
to experience a relatively rapid shift into net export territory, alongside a
continued rise in imports of the raw materials necessary for production.”
The
Barometer’s results also suggest that South Korea and Japan are on track for
significant acceleration in trade growth, even as India and China maintain some
of the highest growth rates amongst the world’s largest economies. Strong
growth in ocean freight across Asia Pacific, coupled with steady or rising air
freight traffic in the region’s bellwether economies, appear to be driven
largely by rising trade in industrial raw materials, capital equipment, and
machinery — potentially foreshadowing an extended period of development for
Asian infrastructure, manufacturing, and domestic consumption.
“The DHL
Global Trade Barometer’s latest results reveal that economic growth and
connectivity have maintained a strong upward trajectory despite any global
uncertainty around free trade,” said Leung. “It also emphasizes just how
interconnected Asia’s economies are to the rest of the world. For the region’s
growth to continue, its logistics and freight infrastructure must not only
provide reliability under all conditions, but also cater to an increasingly
diverse range of industries with fluctuating levels of growth.”
Developed
jointly by DHL and Accenture, the DHL Global Trade Barometer provides a
quarterly outlook on future trade, taking into consideration the import and
export data of seven large economies: China, South Korea, Germany, India,
Japan, the United Kingdom, and the United States. Together, these countries account
for 75 percent of world trade, making their aggregated data an effective
bellwether for near-term predictions on global trade. The DHL Global Barometer,
which assesses commodities that serve as the basis for further industrial
production, predicts that global trade will continue to grow in the next three
months, despite slight losses in momentum.
Full Report: http://release.media-outreach.com/i/12054
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