Intra-Asia trade is likely to reach 22 million teu this year, overtaking the two east-west trunk trades between Asia and North American, and Asia and Europe, according to new data from Box Trade Intelligence (BTI). BTI said intra-Asia trade volume is expected to jump by 7% in 2011 and by 5% in 2012.
Although intra-Asia trade is expected to post single-digit growth figures over the next two years, the crisis in Japan could have a significant impact on trade volume, BTI revealed.
The box trade analyst said Japan is the second-largest trading country after China, representing 16% of total exports and 20% of total imports.
In certain commodity types, Japan represents 42% of all road vehicles produced in the region, 43% of specialised machinery, 42% of all power generating machinery and 72% of pulp and waste paper products.
The report also revealed that by 2012, Chinese exports will represent 35% of intra-Asia trade, with an annual average growth rate of 12%.
Although intra-Asia trade is expected to post single-digit growth figures over the next two years, the crisis in Japan could have a significant impact on trade volume, BTI revealed.
The box trade analyst said Japan is the second-largest trading country after China, representing 16% of total exports and 20% of total imports.
In certain commodity types, Japan represents 42% of all road vehicles produced in the region, 43% of specialised machinery, 42% of all power generating machinery and 72% of pulp and waste paper products.
The report also revealed that by 2012, Chinese exports will represent 35% of intra-Asia trade, with an annual average growth rate of 12%.