China and emerging markets to power 73-per-cent world trade growth

The volume of world trade will rise by 73 per cent in the next 15 years with China and emerging markets driving the growth, according to a report by HSBC published Tuesday.

The bank's quarterly trade report predicted trade volume will hit 48.5 trillion dollars in 2025, from 27.2 trillion dollars currently.

Egypt is predicted to experience the fastest growth in trade volume, rising by 185 per cent through 2025 to account for 0.4 per cent of all trade, partly as a result of other countries seeing it as an entry into a changing Middle East.

China is likely to retain its position as the world's largest trading nation with annual average growth of 7 per cent. By 2025, it would have a 13-per-cent share of world trade, worth 6,315.9 billion dollars, compared to 10.9 per cent in 2010.

Vietnam, Indonesia, and Brazil will also play significant roles with trade volume increasing by 144 per cent in all three countries through 2025, and India would rise by 156 per cent, the report said.

'Emerging Asia, South America and the Middle East will dominate the high growth rankings of trading nations over the next 15 years,' it said, 'partly because they are starting from a lower base.'

The report covered the top 10 sectors for exports and imports in 36 countries.