Growing intra-Asia has provided strong support to global trade in the last decade, and the outlook for regional trade remains relatively rosy, according to Clarksons.
Of the 9.9 billion tons of estimated world seaborne trade in 2013, more than 10 percent was intra-Asian trade of containers and key dry bulk commodities. Since 2003, world seaborne trade has risen by 50 percent, and the doubling of intra-Asian trade of containers and dry bulk commodities has driven 20 percent of this growth.
Intra-Asian container trade volumes have been one of the fastest growing parts of global container trade, increasing on average by 9 percent per annum in the last 10 years. By 2013, intra-Asian trade (including Indian Sub-Continent volumes) exceeded an estimated 500 million tons, 33 percent of total container trade.
Rapid economic development across Asian countries has underpinned this growth, alongside the multi-location manufacturing processes of goods prior to worldwide export. Trade involving China and the Association of Southeast Asian Nations has unsurprisingly led the way, said Clarksons, a research services group.
Intra-Asian trade continues to provide this boost to seaborne volumes, and prospects for container trade in the region are positive, as consumer demand and manufacturing in emerging economies continue to grow, it added.
Photo: alantankenghoe
