LATEST UPDATES
Card-image-cap

Business | Trade Investment

Global Trade Will Grow by 70% to USD30trn by 2030

Nov 23, 2021   •   by   •   Source: Proshare   •   eye-icon 4427 views

Tuesday, November 23, 2021 04:48 PM / by StandardChartered/ Header Image Credit: Standard Chartered

 

  • More than 80 per cent of business leaders are considering locating manufacturing in Asia, Africa or the Middle East in the next five to 10 years
  • Most business leaders acknowledge the need for sustainable trade practices, but only 34 per cent rank it as a top three priority

 

Future of Trade 2030: Trends and markets to watch new research byStandard Chartered projects that global exports will almost double fromUSD17.4tn to USD29.7tn over the next decade. The report reveals 13 markets thatwill drive much of this growth, identifies major corridors, and five trendsshaping the future of global trade.

 

Proshare Nigeria Pvt. Ltd.


Thereport, commissioned by Standard Chartered and prepared by PwC Singapore, isbased on an analysis of historical trade data and projections until 2030, aswell as insights from a survey of more than 500 C-suite and senior leaders inglobal companies.

 

Globaltrade will be reshaped by five key trends: the wider adoption of sustainableand fair-trade practices; a push for more inclusive participation; greater riskdiversification; more digitisation and a rebalancing towards high-growthemerging markets. Almost 90 per cent of the corporate leaders surveyed agreedthat these trends will shape the future of trade and will form part of theirfive to 10-year cross-border expansion strategies.

 

Globalisationwill drive the next decade of growth. Despite the recent push towardsonshoring, growth corridors of the future will not just be intraregional – theywill be global spanning Africa-East Asia; ASEAN-South Asia; East Asia-Europe;East Asia- Middle East; East Asia-Europe; South Asia-US.

 

Asia,Africa and the Middle East will see a ramp-up in investment flows, with 82 percent of respondents saying they are considering new production locations inthese regions in the next five to 10 years, supporting the trend towardsrebalancing to emerging markets and greater risk diversification of supplychains.

 

Enabling sustainable supply chains 

Theresearch found a significant trend towards the adoption of sustainable tradepractices in response to climate concerns and a rising wave of consciousconsumerism. However, while almost 90 per cent of corporate leadersacknowledged the need to implement these practices across their supply chains,only 34 per cent ranked it as a 'top three' priority for execution over thenext five to 10 years.

 

StandardChartered, in line with its commitment to help make global trade moresustainable and drive the transition to Net Zero, launched a SustainableTrade Finance proposition to enable companies to build more sustainable andresilient supply chains. In addition, we offer a suite of sustainable financesolutions to channel capital towards helping companies achieve their Net Zerogoals.

 

KoredeAdenowo, Executive Director, Corporate Commercial and Institutional Banking,Standard Chartered Nigeria, said: "The predicteddoubling of global trade offers strong evidence that globalisation is stillworking, despite recent dislocation. In addition to the growth ofintra-regional trade pathways, the corridors of the future will still cutacross continents.

 

Headded: "Against this backdrop, we continue to focus on making globalisationwork for more markets and businesses, ranging from micro to multinational, anddrive a more sustainable and inclusive model for global trade. This includesgrowing our range of sustainable finance solutions to help our corporateclients implement sustainable and fair-trade practices across their supplychains."


 Proshare Nigeria Pvt. Ltd.


Related News

  1. AfCFTA Poised to Dramatically Increase Nigeria's Exports
  2. Pan African Payments Settlement System (PAPSS): A New Dawn?
  3. Intra-African Trades Get a Boost by CBN's New Regulation for the Operation of PAPSS
  4. Understanding the Pan-African Payment and Settlement System of the AfreximBank - Ade Adefeko
  5. Africa Economic Recovery - The Role of Digital Tech in Efficient Ports and Free Trade
  6. NIPC Launches e-OSIC To Facilitate Investment Promotion in Nigeria
  7. Settling and Clearing Payments in Africa through The Pan African Payment and Settlement System
  8. ''RIBS'' Investment: NIPC Assures Ekiti Of Technical Support
  9. CBN Directs Banks to Apply I and E Rates for PAPSS Transactions
  10. How NIPC Uses the ''RIBS'' Approach to Boost Nigerian Investments

 

 Proshare Nigeria Pvt. Ltd.



Proshare Nigeria Pvt. Ltd.

Get the App

apple-store  play-store

Connect with us


Proshare is a professional practice focused on delivering research and information services to bridge the gap between investors and markets; by delivery on credible, reliable, and timely engagements through the following areas — Impact Research, Market Intelligence, Strategic Advisory, Stakeholder Relations & Digital Media.