1945

Over the past decade, Asia and Latin America have become the new drivers of world growth. As a indication of their dynamism, their participation in the world economy, global trade and investment has increased markedly over the past ten years. Together, Asia and Latin America were responsible for roughly one third of global economic activity in 2011, which is more than the European Union or the United States, which contributed 25% and around 8%, respectively. Their cumulative share in world trade is about 30%, with Latin America contributing 5% and Asia the remainder. However, their participation in global FDI flows is much smaller: Asia accounts for 11% and Latin America for around 7%. Nevertheless, all these shares were substantially lower one decade ago.

Related Subject(s): Economic and Social Development
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