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

 

Science: Hookworm Discovery At Malaghan Institute

Professor Graham Le Gros has led a team which has stimulated both innate and memory responses to the parasite, discovering along the way the unexpected behaviour of one particular immune cell, in Hookworm, one of the world’s most devastating tropical ... More>>

Business: Provinces Urged To Make Full Use Of New Air Services

Provincial New Zealand has been urged to use new air services to Auckland or risk losing them either partially or completely. The stark warning was issued today by Far North mayor John Carter at a ceremony at Kaitaia airport to mark the final Air ... More>>

Mobile: 2degrees To Credit All Calls And SMS To Nepal

In the wake of the devastating earthquake in Nepal in the weekend, 2degrees will be crediting all calls and SMS messages made to mobiles and landlines in Nepal from Friday 24th April until midnight Wednesday 29th April. More>>

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news