Commodity Price Crash: Risks to Exports and Economic Growth in Asia-Pacific LDCs and LLDCs (ESCAP Trade Insights: Issue No.6)

Commodity Price Crash: Risks to Exports and Economic Growth in Asia-Pacific LDCs and LLDCs (ESCAP Trade Insights: Issue No.6)

Date: 
Thursday, March 5, 2015
Type: 
Public information and advocacy materials
Abstract

This issue of the Trade Insights series identifies Asia-Pacific LDCs and LLDCs with export-portfolios and economies which are at greatest risk from the recent collapse in global commodity prices. Asia-Pacific LDCs and LLDCs account for less than 2% of global commodity exports and just 7% of Asia-Pacific commodity exports; however many these economies have export-portfolios which are highly concentrated in one or two major commodities: mainly crude oil, natural gas, aluminum, iron ore/steel, cotton and copper. This note finds that economic growth is at significant risk from changes in commodity prices across many Asia-Pacific LDCs and LLDCs, particularly in fuel-exporting economies and metal and mineral exporting economies.

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