Tag Archives: economics

UN Report Underscores Concern For Weak Trade Performance in Asia and the Pacific

Bangkok (ESCAP News) — The United Nations Economic and Social Commission for Asia and the Pacific’s (ESCAP) recently released Asia-Pacific Trade and Investment Report 2016 highlights that the region’s trade flows are wavering amid sluggish global economic and trade growth, downward movement of world commodity prices and an uncertain policy environment. This situation comes at a time when the need for trade growth to support the 2030 Agenda for Sustainable Development could not be more critical.

Although the volume of exports of goods grew at 3 per cent in 2015, the nominal value of exports and imports by the Asia-Pacific region experienced a major slump in 2015, of 9.7 per cent and 15 per cent, respectively. Sluggish growth in trade is expected to continue through to the end of 2016. Rebounding somewhat, exports are expected to increase by 4.5 per cent and imports by 6.5 per cent in developing countries of Asia and the Pacific in 2017, but the Report forecasts more modest growth in exports and imports in volume terms, at 2.2 per cent and 3.8 per cent, respectively.

“Trade is the key driver of economic activity in Asia and the Pacific,” stated Dr. Shamshad Akhtar, Under-Secretary-General of the United Nations and Executive Secretary of ESCAP.

WESP 2015: Global economy to improve marginally

Global economic growth is forecast to increase marginally over the next two years, according to the United Nations World Economic Situation and Prospects 2015 (WESP) report, launched today. The global economy is expected to grow 3.1 per cent in 2015 and 3.3 per cent in 2016, compared with an estimated growth of 2.6 per cent for 2014. Continue reading

World Economic Situation and Prospects 2014

Global economic growth should increase over the next two years with continuing signs of improvement, according to the United Nations Report World Economic Situation and Prospects 2014.

The global economy is expected to grow at a pace of 3.0 per cent in 2014 and 3.3 per cent in 2015, compared with an estimated growth of 2.1 per cent for 2013. Continue reading

Courage needed to reform global credit rating system

General Assembly President Vuk Jeremic. UN Photo/Evan SchneiderThe steps needed to redress failures that led to the world economic crisis will require courage to conceive meaningful reform to the system of global economic governance, the president of the General Assembly President said today during the world body’s first-ever meeting on the global credit rating system. “I believe the United Nations could play a role Continue reading