Share of Asia in World Trade, 1980-2005

Over the last 20 years, the contribution of Asia to global trade has increased substantially, notably its exports. From about 16% of global exports in 1980, this share climbed to about 27% in 2005. This trend can partially be explained by substantial investments that went into new export-oriented manufacturing facilities using the advantages of low production costs, notably in terms of labor. The gap between exports and imports have also substantially increased after 1997 when currency devaluations made the region more competitive. Yet, as development takes place, Asian economies are consuming increasing amounts of resources.