World trade is reshaped by five major trends. Widespread adoption of sustainable fair trade practices. Promote more comprehensive participation. Greater risk diversification; more digitalization and rebalancing into fast-growing emerging markets.
Nearly 90% of the corporate leaders surveyed agreed that these trends would shape the future of trade and form part of a five- to ten-year cross-border expansion strategy.
Global exports will nearly double from $ 17.4 trillion to $ 29.7 trillion over the next decade, according to a recent report commissioned by Standard Chartered and produced by PwC Singapore. The report reveals 13 markets that drive much of this growth and identifies the major corridors and five trends that will shape the future of world trade.
In a press release by Standard Chartered Bank, this report is based on an analysis of historical trade data and forecasts up to 2030, as well as insights from a survey of more than 500 C suites and senior leaders of global companies.
Globalization will drive growth for the next decade. Despite the recent promotion of onshore ringing, the future growth corridor is not limited to the region. They will be global across Africa-East Asia, ASEAN-South Asia, East Asia-Europe, East Asia-Middle East, East Asia-Europe, South Asia-US.
Investment flows have skyrocketed in Asia, Africa and the Middle East, with 82% of respondents saying they are considering new production locations in these regions within the next five to ten years. Supports balance trends. Greater risk diversification in the supply chain.
The study found an important trend in adopting sustainable trade practices in response to climate change concerns and growing conscious consumerism. However, while nearly 90% of corporate leaders acknowledge the need to implement these practices throughout their supply chain, they ranked them as the “top 3” priorities for implementation over the next 5-10 years. It was only 34%.
Fiber2Fashion News Desk (DS)
World exports will double from $ 17.4 trillion to $ 29.7 trillion over the next decade
Source link World exports will double from $ 17.4 trillion to $ 29.7 trillion over the next decade