Global trade flows
Slowdown in international trade growth
International trade depends to a large extent on how dynamic global economic development is. Hence, although it did grow again in 2008, this growth was clearly below the prior-year levels on almost all major trade lanes. North American imports even declined.
Furthermore, the growth structure shifted. A look at the trade flows between Asia Pacific and the United States or Europe shows that imports on these lanes are growing faster than exports. At the same time, trade flows within Asia – the second largest domestic market after Europe – are growing much faster than trade flows within Europe.
Compound annual growth rate 2007 - 2008
 | Asia Pacific | Europe | Latin America | North America |
Asia Pacific | 9 | 7 | 9 | –2 |
Europe | 12 | 2 | 7 | –3 |
Latin America | 7 | 4 | 4 | –3 |
North America | 5 | 5 | 6 | –2 |
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- Source: Global Trade Navigator; as at December 2008.
The following diagram shows the volumes of the most important international trade flows.
International trade flows: volumes 2008 (US$ bn)
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- Source: Global Trade Navigator.
