The last decade has seen the global balance of trade shift markedly towards the Asia Pacific region. Asia Pacific nations are not only trading increasingly with regions across the globe, they have tremendously increased trade flows amongst themselves.
About half of North America’s top 10 trading partners are now nations in the Asia Pacific region. Top 10 trading partners for the 5 largest importing countries in Asia Pacific range between 50% and 100%, representing a significant amount of trade within the continent. Although trade volumes from Asia to Europe have overall increased, European trade flows are relatively weak, with about 10% of Germany’s and France’s top ten trading partners coming from the Asia Pacific region.