Asian Trade Integration Deepens, Driven by Intra-Regional Commerce, Boao Forum Report Finds
Summary
Asian trade integration is strengthening as intra-regional trade dependency rises to 57.2% in 2024, led by China and Southeast Asian nations, according to a Boao Forum report.
Key Points
- Intra-regional trade dependency in Asia increased to 57.2% in 2024 from 56.3% in 2023.
- Bilateral trade among major Asia-Pacific economies is growing rapidly, with Southeast Asia and China driving the resurgence.
- China's export growth outpaces Japan and South Korea, solidifying its role as the regional trade center.
- Digital infrastructure investment and regional integration are transforming Asia into a main driver of global services trade growth.
