Asian Trade Integration Strengthens, Intra-Regional Growth Forecast

A report released by the Boao Forum for Asia on Tuesday highlights the strengthening foundations of Asian trade integration. It forecasts that intra-regional trade will increase by 56.3% in 2023 and 57.2% in 2024.

Major economies in the region are increasingly orienting their trade towards one another, as detailed in the report titled "Asian Economic Outlook: Integration Progress Annual Report 2026." The report notes that bilateral trade among major Asia-Pacific economies is gaining momentum, with intra-ASEAN trade rebounding. China is leading the recovery, with its exports to emerging economies growing faster than those to Japan and the Republic of Korea, which are reinforcing their roles as regional hubs.

The evolving relationships among trade partners are characterized by a shift towards shared futures and intertwined industrial value chains. The report emphasizes the rise in investment in digital infrastructure, driven by demand from Asia's vast market, which is deepening regional economic integration and gradually transforming participation in global service trade.