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Weak demand for Asian goods dampens global trade outlook

Weak demand for Asian goods dampens global trade outlook

16 August 2016

No rebound in China exports in Q2 while across Asia exports continued to languish, says analyst

Weak demand for Asian exports is dampening global trade expectations, according to one leading analyst.

Frederic Neumann, Co-Head of Asian Economic Research at HSBC, said growth in Asia was slowing but noted that China’s economy had performed well in the second quarter, posting GDP growth of 6.7%.

Yet despite Brexit not hugely impacting Asia and US data stabilizing, he said “trade remains stuck.”

In China, exports had not rebounded in Q2 while across Asia exports continued to languish. “And others are far more dependent on trade than the Mainland,” said Neumann.

“Korea, Taiwan, Singapore, Hong Kong, Malaysia, and Thailand are especially exposed to weak exports.

“It's difficult to see a convincing rebound in global trade over the next few quarters that could fire up growth in these economies.

“New export orders are barely expanding. And demand in the West is unlikely to accelerate any time soon,” he added.

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