New research by Standard Chartered reveals that trade corridors in Asia, Africa, and the Middle East are set to outpace the global growth rate by close to four percentage points. This means that export volumes in these regions are expected to grow from USD9 trillion in 2021 to USD14.4 trillion by 2030.

Global trade is also expected to grow

Global trade is also expected to grow over the same period, but at a slower pace. The report titled “Future of Trade 2030: New Growth Corridors” projects that global trade will reach USD32.6 trillion by 2030, up from USD21 trillion in 2021.

Corridor	Average Annual Growth Rate (2021-2030)	Size (USD 2030)
Intra – ASEAN	8.7%	0.8tn
South Asia – ASEAN	8.6%	0.3tn
South Asia – Africa	8.2%	0.2tn
South Asia – Middle East	7.0%	0.5tn
East Asia – ASEAN	6.3%	2.1tn
Intra – East Asia	3.4%	2.2tn

13 key markets will drive growth

The report identifies 13 key markets that are expected to account for 73% of all exports and 69% of all imports in Asia, Africa, and the Middle East by 2030. These markets are:

• China
• India
• South Korea
• Indonesia
• Turkey
• United Arab Emirates
• Saudi Arabia
• Egypt
• Nigeria
• Pakistan

These markets will have a combined total trade value of USD19.7 trillion

The combined total trade value of these 13 key markets is projected to reach USD19.7 trillion by 2030. This represents a significant increase from the USD9.4 trillion in trade value that these markets collectively generated in 2021.

China, India, and South Korea top the list by volume

China, India, and South Korea are expected to be the top three markets in terms of trade volume by 2030. China is expected to account for 32% of all trade in the region, followed by India with 19% and South Korea with 10%.

International trade is shifting southward and outward

The global trade landscape is changing, with a growing focus on emerging markets in the south and east. South Asia is expected to be the fastest-growing export region in the coming years, driven by strong trade ties with neighboring regions.

Recent trade deals and investments

The recent free trade agreement between India and the United Arab Emirates, as well as Bangladesh’s plans to establish more than 100 special economic zones by 2030, are just two examples of the growing momentum for trade in South Asia.

The rise of South Asia

The rise of South Asia as a major trade hub is being driven by a number of factors, including:

• A young and growing population
• A rising middle class
• A favorable investment climate
• Strong government support for trade

The future of trade in South Asia

The future of trade in South Asia is bright. The region is well-positioned to benefit from the global trend of economic globalization, and it is poised to become a major player in the global economy.