Trade structure and trade potential in East Asia

Trade structure and trade potential in East Asia
Sang-Yirl Nam
logistics, trade
Issue Date
인하대학교 정석물류통상연구원
Series/Report no.
Journal of international logistics and tradevol.1 no.2
World trade has been increasing rapidly and much faster than world output.
This study analyzes the trade structures of major dynamic East Asian countries
as well as regional subgroups such as ASEAN members and Northeast Asian
countries. Emphasis will be on the complementarities that would enhance
integration among them through international trade. In addition, potential
trade levels for each combination of East Asian countries are estimated by
applying the gravity model of trade to the trade flows of 21 APEC members, as
a reference group. It is estimated to have significant potentiality by regional
subgroups. However, the potential integration between East Asian countries in
different regional subgroups is more significant by considering
complementarities in trade compared with the results from the basic gravity
model. To echance economic cooperation between East Asian countries,
expanding relationships such as inter-industry trade in natural resources trade
and industrial goods between the regional subgroups needs to occur. They
should also utilize complementary relationships from intra-industry trade in
industrial goods such as electric and electronic equipment, related parts and
accessories. And they should focus on the implementation of trade facilitation
measures based on global standards.
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