Report Says India to Be Fastest-Growing U.S. Trade Market
India will be the fastest-growing market for U.S. exports due to the country's emerging middle class, said a report by HSBC Commercial Banking. Exports to India will expand an average of 12% per year between 2016 and 2020,it said, then…
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grow close to 10% a year from 2021 to 2030. It said other emerging trading partners include China, Vietnam, Indonesia, Egypt, Turkey, Mexico and Poland. Over the medium term, the value of U.S. exports to Asia (excluding Japan) is forecast to rise at an average annual rate of 8% 2021-2030. The companion HSBC Trade Confidence Index said U.S.-based importers and exporters are maintaining a steady confidence about their expected trade volume during the next six months. Some 48% of U.S. importers and exporters foresee their trade volumes increasing, it said