StanChart: PH Among Countries with Rising Trade Growth Potential
Leading international banking group Standard Chartered (StanChart) has released this year’s Trade20 Index, which names the top 20 markets with the greatest potential for future trade growth.
“Markets that are demonstrating the most impressive pace of progress may represent interesting opportunities for corporates seeking new investment, import, and supply chain partners,” StanChart Group Chairman José Viñals said.
The Philippines placed 20th on the list, which the research attributed to regional trade deals, infrastructure improvements, and liberalizing economy in the country.
Other Asia-Pacific nations like Vietnam, Thailand, and Indonesia also ranked high due to these reasons.
Some key trends recognized in the index include:
- Financial hubs like Hong Kong and Singapore remain in the ascendant.
- Middle Eastern markets diversify.
- Ireland stands out in Europe.
- China is considered as the engine of global growth.
Further, 66 global markets are examined by Trade20 using 12 metrics. These have been grouped into three equally-weighted pillars, namely economic dynamism, trade readiness, and export diversity. Côte d’Ivoire, India, and Kenya are the top three markets on the index.
Unlike traditional trade indices, Trade20 does not base its ranking on a market’s present performance. Instead, it accounts for the changes over time to reveal the markets that have seen the most improvement.
To view the complete trade report, visit Standard Chartered’s website.
Also read: 8 Philippine Companies Among Forbes Asia’s Best Over A Billion List
Source: Standard Chartered’s official press release
