World trade may see double-digit growth in 2010: DB Research

NEW DELHI: World trade is expected to see a double-digit growth in 2010, led by rapid pick up in external trade in emerging markets, especially in Asia, a report said.

According to the report by DB Research, a part of the German banking major Deutsche Bank, major economies have passed the trough of recession and many indicators such as manufacturing index, export orders point to further growth potential for the global economy and world trade.

The report stated that unlike developed economies, recovery has been particularly pronounced in emerging markets seeing strong pick up in external trade.

In a few instances, the export performance of emerging markets is even close or above pre-crisis levels, it added.

"All things considered, world trade should expand at a double-digit rate in the current year," the DB Research report stated.

After contracting by nearly 13 per cent in 2009, world trade has recovered rapidly supported by the expansionary economic policy and international cooperativeness.

Besides, rapid recovery in Asia was impressive as with its huge fiscal packages, China, boosted not only its own economy but also intra-Asian trade, the report added.

Based on preliminary data, world trade volume expanded by an unprecedented 4.8 per cent in December 2009, from the previous month.