Asia-Pacific trade slowing following lower global growth

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Trade in Cambodia's ports: products from Viet Nam arrive at the Phnom Penh Autonomous port in Kandal province. Photo: World Bank/Chhor Sokunthea

Asia and the Pacific remains the most dynamic region of the global economy but growth in regional trade and investment flows is slowing, the UN said on Monday.

The latest economic growth report by the UN Economic and Social Commission for Asia and the Pacific (ESCAP) emphasizes the need for countries to adjust to both cyclical and structural changes.

Daniel Dickinson reports.

Total exports and imports from the region grew by only 1.6 per cent in 2014.

However, when excluding China from the regional total, exports from the Asia-Pacific region registered a decline of 0.4 per cent according to ESCAP's annual flagship report.

In 2013 average export growth across the region was five per cent.

The report says the continued sluggish pace of trade and investment growth is impacting the prospects of a recovery in the near-term.

Despite this, ESCAP says the Asia-Pacific region stands out for its significant and sustained achievements in leveraging trade and investment flows for development.

Daniel Dickinson, United Nations

Duration: 46"

 

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