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

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news