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High-tech goods to lead trade growth over next 15 years: HSBC

18
Mar
2014

Exports of high-tech products will grow more quickly than exports of other goods over the next 15 years as emerging Asia moves away from being a low-cost production hub for foreign brands and toward developing value-added local products, according to research from HSBC. High-tech goods would make up more than 25 percent of goods traded by 2030 compared to 22 percent in 2013, HSBC said in its latest global trade report, which forecast trade would pick up only slowly in the near term. The value of global goods trade would rise at an average rate of 8 percent a year from 2014 to 2030, with high-tech goods rising about 9 percent a year, HSBC said. HSBC said much of the future increase in high-tech trade would be driven by internationalization of supply chains, with parts for high-tech products crisscrossing national borders, but Asian firms would also snare market share from Western competitors.

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