312
The Great Recession and Developing Countries
Figure 7.6. Exports Growth 60 50 40
percent
30 20 10 0 –10 –20
8
7
-0
-0
6
Jan
Jan
-0 Jan
-0 Jan
-0 Jan
Korea, Rep.
5
4
3 -0 Jan
-0
2
1
China
Jan
Jan
Jan
-0
-0
0
9 -9 Jan
-9 Jan
Jan
-9
7
8
–30
Malaysia
Source: CEIC (www.ceicdata.com).
Table 7.3. Growth in the Volume of World Merchandise Trade by Selected Region and Economy, 2000–08 (annual percentage change) Exports 2000–08
2007
Imports 2008
2000–08
2007
2008
5
6
1.5
World
5
6
1.5
2.5
5
1.5
North America
3
2
–2.5
3.5
6.5
6
United States
3
1
–3.5
3.5
4
0
Europe
3
4
–1.5
3.5
3.5
–0.5
EU (27)
3
3.5
–1.5
10
11.5
5.5
Asia
8
8
4.5
20.5
19.5
8.5
China
16
14
4
Hong Kong SAR, China
3
7
–2
16
–4
–20.5
–11
12.5
13
7.5
India
13.5
6
9.5
2
Japan
2.5
1.5
8
8.5
5.5
5
4
5
4
6
5
–6.8
4.5
Six East Asian tradersa
–4.6
Malaysia
Source: World Trade Organization (WTO). a Hong Kong SAR, China; Republic of Korea; Malaysia; Singapore; Taiwan, China; and Thailand.
14 –2