Changing pattern of the ESCAP region's trade in primary commodities

The preceding chapter has highlighted the varied nature of dependence on commodity trade in the ESCAP region as measured by the share of primary commodities exports in total merchandise exports. Although the aggregate figure would suggest that the ESCAP region is not so heavily dependent on primary commodity trade as the other two developing regions of Africa and Latin America, it hides large differences among countries of the region, many of which depend on commodity exports for well over 50 per cent of their export earnings. In addition many countries, in particular some of the lower-income countries, are almost completely specialized in the exports of only a few, sometimes not more than 2 or 3, primary commodities. The analysis presented in this chapter focuses on the changing importance, composition, growth performance and direction of primary commodity trade in the ESCAP region. It assesses in detail the changes that have taken place in commodity trade for individual ESCAP countries over the last two decades so as to enable a better understanding of the implications of the changing nature and importance of commodity trade to the economies of the region.

Sustainable Development Goals:

Decent Work and Economic Growth

Reduced Inequalities