AsiaTradeHub.com forecasts progress in Asian emerging market trade activities

The trade restriction by the US has affected few Asian countries and emerging economies in Asia in total has, in fact, benefited. 

ADB’s latest Outlook indicated that Vietnam export to the US increased by 33% and Bangladesh too seeing a 13% increase in exports in the current year. Other Asian countries like Malaysia, Thailand and Philippines have also seen their economy grow. Due to the trade war between the US and China, the latter’s exports have reduced approx. 12% in the current year and the total outlook of the Asian economy trimmed from the earlier estimated 5.7% growth to 5.4%. Vietnam is forecast to see 2.3% in additional growth whilst the economic growth of Hong Kong is estimated to slip 0.3% from earlier projected 2.5%. South Korea’s growth was revised downwards from an estimated 2.5% to 2.1%.

AsiaTradeHub.com CEO Keshav Gandhi predicts this shakedown of exports from Asia will change earlier trade practices and the efforts from China and India to compensate the export loss by increasing business within Asia will help trade activities pushed by Asian countries in the coming year.