Viet Nam, India and the Philippines stand out on both speed and scale of projected trade growth through 2026

Viet Nam, India and the Philippines stand out on both speed and scale of projected trade growth through 2026. All three have potential to benefit from efforts by many companies to diversify China-centric production and sourcing strategies, the document said.

While emerging economies increased their shares of world trade from 24 per cent to 40 per cent between 2000 and 2012, with half of the increase driven by China alone, these shares have barely changed over the past decade, it noted.

However, emerging economies continue to race forward on measures of connectivity, innovation, and leading companies. They are becoming more important exporters of sophisticated manufactured products, and increasingly compete not only on low costs, but also on innovation and quality, the document added