APEC Region Trade Leads the World, Organization Says
Trade in the Asia-Pacific Economic Cooperation region continued to outperform the rest of the world despite global economic uncertainty, APEC reported. Growth in the nominal U.S. dollar value of merchandise trade for APEC countries was 4.6% in May 2012, down…
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from 12.1% growth in December 2011 but still at “the top of the heap” compared to the rest of the world, where growth contracted by 5.6% in May, it said. Economic activity in the region is expected to stay relatively robust in the medium term despite lower growth forecasts caused by increased financial shakiness abroad, it said. APEC ministers agreed at their meeting in Vladivostok, Russia, this week to maintain free and open markets, withdraw existing restrictive measures and resist protectionism (see ITT's Online Archives 12090608 for summary).