[020312.EN.SEA] UNCTAD: Third World Trade Output Moves From 17 to 28pc Over 30 Years

THE United Nations Conference on Trade and Development (UNCTAD) reports that the share of developing countries' GDP in overall global economic output has increased from 17 per cent in 1980 to more than 28 per cent by 2010 with the growth projected to continue, according to its annual Review of Maritime Transport for 2011.

The report also noted that developing countries' share of global trade also increased from 30 per cent to more than 40 per cent from 2008 through 2010 alone.

Global seaborne trade, which represents 90 per cent of world trade, reached 8.4 billion tonnes in 2010, and is carried by a global fleet of 103,392 commercial vessels as of January 1, 2012.

The UNCTAD report cites the improved efficiency and reduced costs of modern port operations which have contributed significantly to the increase in global trade and overall economic output.

Source : HKSG, 30.01.12.