Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


APEC region trade still outperforms world

APEC region trade still outperforms world

Vladivostok, Russia, 7 September 2012 – Trade in the APEC region continues to outperform the rest of the world, weathering global economic uncertainty, according to new APEC Policy Support Unit (PSU) research that was presented to APEC Ministers during their meeting in Vladivostok on Thursday.

Growth in the nominal USD value of merchandise trade for APEC economies moderated to 4.6 percent in May 2012, down from 12.1 percent growth in December 2011 due to weak global economic activity and deflated traded good prices. But it was enough to remain at the top of the heap, by comparison. The rest of the world contracted by 5.6 percent in May 2012.

“Though trade performance varied across the region in the first half of 2012, due to weak global demand and sharp falls in commodity prices, APEC members’ economic growth has been fairly robust and resilient” said PSU Director, Dr Denis Hew.

“Foreign direct investment across APEC economies is also encouraging,” he adds. As a whole, the region accounted for nearly half of the growth of global FDI inflows in 2011.

Economic activity in the APEC region is expected to remain relatively robust in the medium-term, despite trimmed growth forecasts caused by increased uncertainty abroad.

Based on International Monetary Fund data, member economies’ real GDP growth is on pace to accelerate from 4.1 percent in 2011 to 4.2 percent in 2012 and 4.5 percent in 2013, keeping ahead of the rest of the world.

APEC members’ economic growth and their trade and investment flows could be significantly impacted by downside risks related to the external environment. However, there are steps that can be taken to help mitigate the risks, the report suggests.

Proposed steps, supported by the business community, include reiterating the pledge to maintain free and open markets, and renewing the pledge to withdraw existing restrictive measures and resist new protectionist measures to bolster the global economic recovery process.

“APEC should also continue to monitor trade and investment measures by member economies,” Dr Hew said, building on the commitment made by Ministers in Singapore in 2009.

Such issues are being constructively addressed by APEC Leaders, Ministers and Senior Officials during the 2012 APEC Economic Leaders Week here in Vladivostok.

The APEC Policy Support Unit, APEC’s independent research arm, regularly produces trade and economic analysis based on wide-ranging data sourced for all 21 APEC member economies.

Additional details about APEC initiatives can be found at www.apec.org. You can also follow APEC on Twitter and join us on Facebook.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Lower Levy For Safer Cars: ACC Backtracks On Safety Assessments

Dog and Lemon: “The ACC has based the entire levy system on a set of badly flawed data from Monash University. This Monash data is riddled with errors and false assumptions; that’s the real reason for the multiple mistakes in setting ACC levies.” More>>

ALSO:

Fast Track: TPP Negotiations Set To Accelerate, Groser Says

Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More>>

ALSO:

Floods: Initial Assessment Of Economic Impact

Authorities around the region have compiled an initial impact assessment for the Ministry of Civil Defence, putting the estimated cost of flood recovery at around $120 million... this early estimate includes social, built, and economic costs to business, but doesn’t include costs to the rural sector. More>>

ALSO:

Food: Govt Obesity Plan - No Tax Or Legislation

Speaking to Q+A’s Corin Dann this morning, health minister Jonathan Coleman said tackling obesity was at the top of the Government’s priority list, but there was “no evidence” a sugar tax worked, and further regulation was unnecessary. More>>

ALSO:

Treasury Docs On LVR Policy: Government Inaction Leads To Blurring Of Roles

The Treasury wouldn’t have had to warn the Reserve Bank to stick to its core functions if the Government had taken prompt and substantial measures to rein in skyrocketing Auckland house prices, Labour’s Finance spokesperson Grant Robertson says. More>>

ALSO:

Final EPA Decision: Tough Bar Set For Ruataniwha Dam

Today’s final decision by the Tukituki Catchment Board of Inquiry is good news for the river and the environment, says Labour’s Water spokesperson Meka Whaitiri. “Setting a strict level of dissolved nitrogen in the catchment’s waters will ensure that the dam has far less of an impact on the Tukituki river." More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news