World trade has regained the levels it reached before the financial crisis, driven by rapidly rising emerging market exports and imports, research suggests.
A monthly measure of trade compiled by the Bureau for Economic Policy Analysis, a Dutch research institute, shows that the volume of world goods traded surged by 15.1 per cent last year after contracting by 13 per cent in 2009. Strong December data capped robust growth in the fourth quarter.
Goods traded in December exceeded the previous peak, which was set in spring 2008, before a precipitous drop in import demand as a result of the global financial crisis, which caused trade to contract by a fifth in a matter of months.
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