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Asia-Pacific Trade and Investment Report 2015

Supporting Participation in Value Chains

image of Asia-Pacific Trade and Investment Report 2015
Part I of this report assesses trends and developments in regional trade and investment flows and policies in an attempt to provide the insights and information necessary to separate the cyclical from the structural aspects. Part II analyses the participation of Asia-Pacific economies in global and regional value chains. By observing how economies at different levels of development have integrated into supply chains at different speeds and to varying extents, we can cast light on those policies that influence and shape value chain participation, and hence influence future patterns of trade and investment. The particular features of participation in value chains also have an impact on the ability of countries to access foreign technology and build innovative capacity, which in turn influences structural change and future development options.

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Commercial services trade on the mend?

Global commercial services trade outperformed merchandise trade in 2014, despite slow growth. The global export services growth rate decreased slightly from 5.4% to 4.9% compared with the 2013 level; similarly, on the import side, growth weakened from 5.9% to 5.2%.2 In contrast, the Asia-Pacific commercial services trade growth improved in 2014, from 4% to 5.1% for exports and from 5.7% to 6.1% for imports (figure 2.1). Nevertheless, it remained consistently lower than its 2012 level of 8.2%.

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