DIRECTION OF WORLD TRADE : EMERGING AND DEVELOPING COUNTRIES AND DEVELOPING ASIA

DIRECTION OF WORLD TRADE:EMERGING AND DEVELOPING COUNTRIES AND DEVELOPING ASIA

--Dr.Debesh Bhowmik

The Emerging and the Developing countries were able to increase its trade to the world as a whole including all regions like, Advanced Countries,Emerging and Developing countries, Developing Asia, Europe, SubSaharan Africa and Western Asia.Emerging and Developing countries exported 7146.69 billion dollar in 2011 which increased to 7436.54 billion dollar in 2012 and imported 6775.77 billion dollar in 2011 that enhanced to 7436.54 billion dollar in 2012 although surplus trade balance marginally reduced. Of this trade major shares went to advanced and emerging economies. Their export to advanced countries stepped up to 4284.58 billion dollar in 2012 from 4197.01 billion dollar in 2011 in comparison  to imports 3492.6 billion dollar in 2011 to 3550.52 billion dollar in 2012 ie a clearly an increased trade balance surplus. Its intra-trade increased to in both exports and imports including a reduction of negative trade balance. The trade to other regions given above, both the exports and imports increased with an increased negative trade balance, ie a gain from international trade.

The developing Asia enhanced their exports and imports to the world from 2011 to 2012.Their export was 3110.34 billion dollar in 2011which rose to 3265.04 billion dollar in 2012 and import increased from 1665.81 billion dollar in 2011 to 1666.24 billion dollar in 2012 including increment in trade surplus. The same trends were observed in the regions of Europe, SubSaharan Africa and Western Hemisphere but facing increased trade deficit. The intra-trade of the Developing Asia has flourished too with the decreased in trade surplus. The major share of trade of the developing Asia went to the advanced countries but trade with emerging and developing countries has increased too with about equal share followed by the European share.

Therefore, it is clear that the developing countries were able to increase their international trade to the sufficient level in comparison to the developed countries. This is the transition as result of the crisis.

(see Table,source-IMF)

	Emerging and Developing countries(USbillion dollar)
	Export	Import	Export	Import	Export	Import
	2010		2011		2012
World	5718.79	5460.10	7146.69	6775.77	7436.54	7117.07
Advanced Economies	3444.31	2934.45	4197.01	3492.6	4284.58	3550.52
Emerging and Developing countries	902.81	990.64	1173.02	1251.59	1277.36	1343.43
Developing Asia	404.04	428.27	530.11	559.95	554.21	610.09
Europe	351.23	448.14	428.84	601.78	471.75	647.62
Sub-Saharan Africa	136.46	143.12	173.57	192.05	187.74	222.71
Western Hemisphere	323.82	356.55	410.62	452.91	427.75	476.01
	Developing Asia
World	25 60.58	2508.2	3110.34	3153.55	3265.04	3311.63
Advanced Economies	1662.64	1365.24	1968.53	1665.81	2051.04	1666.24
Emerging and Developing countries	882.65	1007.43	1111.7	1348.09	1195.45	1471.47
Developing Asia	114.83	77.48	144.00	109.56	151.89	120.02
Europe	154.63	258.18	188.91	356.23	204.41	397.75
Sub-Saharan Africa	68.06	81.15	89.97	119.22	100.10	146.95
Western Hemisphere	115.58	118.89	15 2 .46	154.34	167.55	174.12