MENA trade volume to surge by 84.7% by 2025 - HSBC.

By bne IntelliNews October 13, 2011
Middle East and North Africa (MENA) trade volume is forecast to grow by 84.7% by 2025, higher than the world trade average of 73%, HSBC said in a report. Intra-MENA trade is projected to grow to 13.43% of the regions trade in 2025, from 11.3% currently. The bank forecasts global trade to expand by 2% y/y until 2015. Saudi Arabias trade volume is expected to grow by 26.4% over the next 12 months compared to minus 1.36% in 2010, while the UAEs trade volume is expected to surge by 126% to USD 414bn. Trade volume in Egypt will soar by 270% by 2025 to USD 201.83bn. The HSBC Trade Confidence Index, a survey of international traders globally, finds that despite a drop in global trade confidence, 84% of respondents expect either an increase in international trade, or consistent levels of international business activity, over the next six months. Businesses in Saudi Arabia, Egypt, the UAE and Indonesia are the most optimistic about the immediate future.

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