Top Countries Set to Lead Global Trade

in Trading

It seems that the world economy still has to face with challenges and difficulties. Europe is struggling with sovereign debt and China’s economy seems to be slowing. Despite short-run uncertainty, there is a bright picture for global trade in the long term trend. Forecasts by Citigroup’s research team show in a report titled Trade Transformed: The Emerging New Corridors of Trade Power that world trade will jump to $287 trillion in 2050. During the financial crisis, world trade declined by 20%.

 

World trade is set for both a prolonged boom and a marked transformation. Trade growth mostly comes from emerging markets. Among 10 countries that will command world trade in 2030, China is expected to become the world’s leader in trade as early as 2015. The country is projected to overtake the U.S. China currently accounts 9.5% of world trade. It is set to account for 17.4% of world trade in 2030 and 18.2% in 2050. Its trade is projected to jump from $3.6 trillion in 2010 to $21.3 trillion in 2030 and $52.2 trillion in 2050. Other top countries will lead the global trade, including India, the USA, Germany, Korea, Indonesia, Hong Kong, Japan, Singapore, and the UK.

 

#1 China


Trade in 2030: $21.3 trillion Percent of world trade: 17.4%

Trade in 2030: $21.3 trillion

Percent of world trade: 17.4%

 

#2 India


Percent of world trade: 5.6%

Percent of world trade: 5.6%

 

#3 USA


Percent of world trade: 8.2%

Percent of world trade: 8.2%

 

#4 Germany


Trade in 2030: $5.8 trillion Percent of world trade: 4.7%

Trade in 2030: $5.8 trillion

Percent of world trade: 4.7%

 

#5 Korea


Trade in 2030: $4.7 Percent of world trade: 3.8%

Trade in 2030: $4.7

Percent of world trade: 3.8%

 

#6 Indonesia


Trade in 2050: $8.8 trillion

Trade in 2050: $8.8 trillion

 

#7 Hong Kong


Trade in 2030: $3.8 trillion

Trade in 2030: $3.8 trillion

 

#8 Japan


Percent of world trade: 3.5%

Percent of world trade: 3.5%

 

#9 Singapore


Trade in 2030: $3.2 trillion Percent of world trade: 2.7%

Trade in 2030: $3.2 trillion

Percent of world trade: 2.7%

 

#10 UK


Trade in 2030: $3.2 trillion Percent of world trade: 2.6%

Trade in 2030: $3.2 trillion

Percent of world trade: 2.6%

 

 

Davos Annual Meeting 2011 - Revitalizing Global Trade

 

Related links:

Ten Countries Dominating World Trade In 2050

Famous Self-made Millionaires: Catherine L. Hughes, Bert Jacobs, Ali Brown

11 Countries Expected to See High Inflation in 2012

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Neil Karen has 386 articles online and 17 fans

Economics is the study of our lives,our jobs, our homes, our families and the little decisions we face every day. Thus, I am keen on reading and studying economic issues.

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Top Countries Set to Lead Global Trade

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This article was published on 2012/01/10