UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT SOUTH–SOUTH TRADE: The Reality Check ISSUES IN NEW GEOGRAPHY OF INTERNATIONAL TRADE by Miho Shirotori and Ana Cristina Molina UNCTAD, Geneva Geneva, 2009 NOTE Miho Shirotori is Economic Affairs Officer of the Trade Analysis Branch of DITC and Ana Cristina Molina is a Consultant to UNCTAD. The views expressed in this study are those of the authors and do not necessarily reflect the views of the United Nations or its member states. The designations employed and the presentation of the material do not imply the expression of any opinion whatsoever on the part of the United Nations Secretariat concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries. Material in this publication may be freely quoted or reprinted, but acknowledgement is requested, together with a reference to the document number. It would be appreciated if a copy of the publication containing the quotation or reprint were sent to the UNCTAD secretariat: Chief Trade Analysis Branch Division on International Trade in Goods and Services, and Commodities United Nations Conference on Trade and Development Palais des Nations CH-1211 Geneva Series editor: Victor Ognivtsev Officer-in-charge, Trade Analysis Branch UNCTAD/DITC/TAB/2008/1 UNITED NATIONS PUBLICATION ISSN 2071-7679 © Copyright United Nations 2009 All rights reserved ii Issues in New Geography of International Trade ABSTRACT South–South trade has shown a significant increase in the past decade, with a higher rate of growth than international trade. Asian countries, particularly the "tigers" and "dragons" among them, dominate South–South trade in terms of trade value. But trade complementarity among developing countries is growing, suggesting new trading opportunities in interregional trade, e.g. between Africa and the Americas. The dynamic expansion of South–South trade in recent years reflects an increase in trade values between traditional partner countries and the new trading patterns taking place between countries that have never traded before. Key words: South–South trade, trade complementarity. South-South Trade: The Reality Check iii ACKNOWLEDGEMENTS We are grateful and indebted for the valuable inputs and support provided by Wojciech Stawowy, Marco Fugazza, Mark Bloch and Jenifer Tacardon-Mercado. Constructive comments were also received from Victor Ognivtsev, Hiroaki Kuwahara, Samuel Munyaneza, Sudip Ranjan Basu and Denise Penello-Rial. We also thank Susan Graham for her administrative help. iv Issues in New Geography of International Trade CONTENTS A. Introduction ............................................................................................................................ 1 B. Overview of the trend of South-South trade........................................................................... 2 C. Direction and patterns of South-South trade flows................................................................. 4 C.1 C.2 D. Comparative advantage, trade complementarity in South-South trade and the dynamics of South-South trade expansion................................................................. 7 D.1 D.2 D.3 E. At a regional level ...................................................................................................... 4 Findings at a subregional level ................................................................................... 6 Sectoral specialization in South-South trade.............................................................. 7 Trade complementarity among developing countries .............................................. 10 Dynamics of South-South export ............................................................................. 12 Concluding summary............................................................................................................ 14 Bibliography .................................................................................................................................. 15 Annex I – Note on the South-South Trade Information System (SSTIS) ..................................... 17 Annex II – Note on the calculation of indices................................................................................ 23 Annex III – Figures ......................................................................................................................... 25 Annex IV – Tables ........................................................................................................................... 35 South-South Trade: The Reality Check v List of figures 1. 2. 3. 4. 5. 6. Post WWII Trend – Exports from the South .......................................................................... 2 Changes in export volume indices .......................................................................................... 2 Changes in Exports to the South (as % of world exports) ...................................................... 3 Growth of Exports (1995–2005)............................................................................................. 3 South-South trade flows ......................................................................................................... 4 Sectoral shares of South-South exports (2005) ...................................................................... 5 Annex Figures: 1. 2. Product groups with comparative advantage in 2005........................................................... 25 Change in comparative advantage between 1995 and 2005 ................................................. 27 2.1. Africa........................................................................................................................ 27 2.2. Americas .................................................................................................................. 28 2.3. Asia .......................................................................................................................... 29 Trade Complementarity Index in 1995 and 2005 ................................................................. 30 Trade Complementarity Index vs. Export Intensity Index, 2005 ......................................... 32 4.1. Americas .................................................................................................................. 32 4.2. Africa........................................................................................................................ 33 4.3. Asia .......................................................................................................................... 34 3. 4. List of tables 1. South-South export as a percentage of a sub-region’s exports to the world......................................................................................... 7 Bilateral trade data of selected countries .............................................................................. 12 2. Table A1. Sectoral definition used in this chapter............................................................................. 18 Table A2. Definition of region/sub-region used in this chapter ........................................................ 19 Annex Tables: 1.1. 1.2. 2.1. 2.2 3.1. 3.2. 4.1. 5.1. 5.2. 5.3. 6.1. 6.2. 6.3.a. 6.3.b. 7.1. 7.2. 7.3. vi Matrix of export flows from the South ................................................................................. 35 Exports to the South as percentage of each region’s total exports to the world ................... 36 Breakdown of the origins of the South-South export ........................................................... 37 Breakdown of the destinations of the South-South export ................................................... 37 Ranking of sectors in South-South trade .............................................................................. 38 Ranking of sectors exported from each region ..................................................................... 39 Network of exports: Top 10 Exported Sectors ..................................................................... 42 Breakdown of exports into sub-regions ................................................................................ 44 The breakdown of destinations of the South-South exports ................................................. 45 Top 20 countries according to the 2005 value of exports to the South ................................ 46 Normalized RCA across subregions (HS 4-digit)................................................................. 47 Exports with revealed comparative advantage in 2005 ........................................................ 48 Top 10 subregions, ranked according to the height of comparative advantage in 2005....... 49 Top 10 subregions, ranked according to the degree of comparative advantage in 2005 ...... 50 Partners and Products ........................................................................................................... 53 Most traded (i.e. exported) products in new trade relationships (NTR): By region (SQUARED MATRIX) ....................................................................................... 54 Existing products traded with existing partners ................................................................... 55 Issues in New Geography of International Trade A. INTRODUCTION Globalization in the 21st century now has a discernible Southern face. Total exports from developing countries (the South) to the world in 2005 amounted to US$ 3.7 trillion, a three-fold increase from 1995 levels. The value of exports now accounts for 32 per cent of the world’s total exports — the highest level since World War II. While developed economies, or the North, remain a significant market for exports from the South, it is South–South trade that shows impressive velocity and growth momentum. In 2005, just under half of total exports from the South went to other developing countries. This phenomenon has been termed the “new geography of international trade” and testifies to the emergence of the South in the world economy (UNCTAD, 2004a). And, with the demographic dividend of the South, i.e. an increasing number of workforce/consumers and upgrading of trade-facilitating institutions and infrastructure among them, the South now represents a market with major growth opportunities. South–South trade is growing at the same rate as economic linkages are being forged between countries of the South. South–South investment flows have increased substantially in the past decade, as reflected by the 36 per cent or $334 billion of total global inflows that were earmarked for the South — the highest share ever recorded. In 2006, 29 per cent or $379 billion of total global FDI inflows ($1,306 billion) were for the South. The South is also increasing its share in FDI outflows. The outflows from the South – $193 billion in 2006 – account for 16 per cent of the world total. South–South FDI flows have also risen spectacularly, from $2 billion in 1985 to $60 billion in 2004. Fuelling the growing trade and investment performance of the South is the rise of Southern entrepreneurship with their own unique models. Southern transnational corporations (TNCs) are advancing internationally, with their total sales reaching at an estimated $1.9 trillion in 2005 and an estimated 6 million employees (UNCTAD, 2006c; 2007b). On the trade logistics side, new efforts and technology have been responsible for bringing down the transaction costs associated with South–South trade. It has been reported that freight costs as a percentage of import values facing the South’s trade fell from 6.7 per cent in 1990 to 5.9 per cent in 2004, compared to the world average, which remained more or less the same at around 3.6 per cent during the same period1 (UNCTAD, 2006b). Recent improvements in the accessibility to information, e.g. through the adoption of information and communication technology (ICT) or technological developments, have facilitated market information gathering and to an extent financial transactions among producers and exporters in the South2 (UNCTAD, 2006c). The purpose of this paper is to conduct a reality check on the underlying trends and patterns of expansion of South–South trade between 1995 and 2005. The study relies on the UNCTAD South– South Trade Information System (SSTIS), which, based on the UN Comtrade, provides data on bilateral (country-to-country) trade flow at the most disaggregated level of product classification (HS 6-digit). The analysis reflects the data coverage available in September 2007. A more detailed explanation of the SSTIS is provided in Annex I. 1 Note that this figure is based on developing countries’ imports from the world, not on imports from other developing countries. 2 According to UNCTAD Information Economy Report 2006, in 2005 43 per cent of internet users around the world were from developing economies, an increase from 28 per cent in 2001. While the internet penetration rate (i.e. the number of internet users per 100 inhabitants) in developing economies remains low at 8.5 per cent compared to 54.4 per cent in developed economies, penetration in developing economies has been increasing on average by 32 per cent per year (50 per cent per year in Africa). South-South Trade: The Reality Check 1 B. OVERVIEW OF THE TREND OF SOUTH–SOUTH TRADE Plotting the long-run trend of exports shows that exports from the South went through three distinctive phases in the post-WWII period. In the first two decades following WWII, the share of exports from the South in world trade declined from over 30 per cent in 1948/1950 to just below 20 per cent in 1970/1972 (see Figure 1), as dynamic post-war recovery and growth in economies of developed countries far exceeded those of developing countries.3 The second phase occurred during the period of high commodity prices in the mid-1970s, when the export share of countries in the South shot up above the long-term trend, remaining above 25 per cent of world exports until the early 1980s. A decline in oil prices in 1984-1985 brought the South’s share back down to 21 per cent. In the current phase, from the latter part of 1980s to the present day, the South’s export share in total world export has been on an upward trend. Developing economies Poly. (Developing economies) Figure 1. Post WWII Trend – Exports from the South (in per cent) 40 35 30 25 20 15 10 5 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 0 The growth of exports from the South in the current phase (1987/1988 to date) is found not only in trade value but also in trade volume. Changes in export volumes show that exports from the South to the world increased fivefold from levels in the 1980s, compared to world exports that increased threefold.4 On average, the volume of exports from the South grew by 7 per cent per year, exceeding the rate of growth of world exports (6 per cent per year) as a whole (see Figure 2). After sluggish growth in the first half of the 1980s, exports from the South rose at a constant rate of about 10 per cent per year, significantly higher than developed economies for the decade between 1987 and 1996. The 1997 East Figure 2. Changes in export volume indices World Volume index of exports Developing economies Volume index of exports 140 120 100 80 60 40 20 0 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2 3 Data on the post-WWII trend is drawn from the UNCTAD Handbook of Statistics 2006. 4 See UNCTAD, Handbook of Statistics 2006 for changes in the volume indices. Issues in New Geography of International Trade Asian financial crisis and the spread of financial volatility to other regions brought the growth of the South’s export volume down to just over 1 per cent in 1998, but exports picked up quickly thereafter. Exports from developing countries have increased enormously since then. In 2005, total exports from the South reached $3.7 trillion, accounting for 32 per cent of world trade (Annex Table 1.1). A large part of export growth from the South, particularly in the past decade, can be explained by an expansion of South–South trade. In 2005, total South–South exports amounted to $1.7 trillion, accounting for 46 per cent of total exports from the South, and 15 per cent of world exports (Annex Table 1.2). The significant growth of South–South exports becomes clear when compared to changes in exports to the South from the rest of the world (RoW) to the South during the same period. In terms of shares of total world trade, the differential between the two narrowed from 5 percentage points in 1995 to 2.6 percentage points in 2005 (Figure 3). Figure 3. Changes in Exports to the South (as % of world exports) From South From RoW 2005 2000 1995 0 2 4 6 8 10 12 Figure 4. Growth of Exports (1995-2005) 14 16 18 to the South 20 to RoW 162% World 195% South 139% RoW 198% Asia 144% Americas 277% Africa 0% 50% 100% 150% 200% 250% 300% Growth rate Between 1995 and 2005, South–South exports increased by 197 per cent, exceeding the growth of its exports to the rest of the world, which increased by 143 per cent (Figure 4). The weight of the South as a market varies across developing regions. In the case of Asia, just over a half (51 per cent) of its exports to the world went to the South. As for Africa and the Americas, exports to the South accounted for 30 per cent and 27 per cent of their total exports, respectively. Among the developing regions, the highest growth of exports to the South was recorded by Africa, which posted an increased of 277 per cent. Its exports to the world increased by 179 per cent. Asia’s exports to the South also increased by a much greater rate than its exports to the rest of the world. The increase in exports from the Americas to the South was slightly lower than their exports to the rest of the world. South-South Trade: The Reality Check 3 C. DIRECTION AND PATTERNS OF SOUTH–SOUTH TRADE FLOWS C.1 At a regional level In terms of geographical trade flows, South–South trade exhibits a “hub-and-spoke” pattern, i.e. one region acts as the center of gravity for the majority of trade flows from other regions. Asia is incontestably the world’s most important hub, as it is both the largest exporter and the largest importer in South–South trade. In 2005, Asia’s exports (including intra-Asian exports) accounted for 85 per cent of total South– South trade. Exports from the Americas claimed the remaining 10 per cent and those from Africa 5 per cent (Annex Table 2.1). In terms of the destination of exports in 2005, Asia received 58 per cent of South–South exports from Africa and 32 per cent from the Americas. Trade between Africa and the Americas only accounted for a minor share (just over 1 per cent) of total South–South trade in 2005, but interregional trade levels between the two regions showed a sizeable increase since 1995 (Annex Table 2.2). Asia’s dominance in South–South exports can be explained to a certain extent by its sheer economic size as well as by its greater participation in international trade than the other two regions. Asia is the largest of all developing regions in population and GDP, with the highest trade-per-GDP ratio (35.1 per cent), followed by Africa (21.1 per cent) and the Americas (15.8 per cent). However, as can be seen below, it is also due to a very high degree of regional integration, as well as the active participation of countries in the South in global/regional productionsharing schemes. Figure 5. South-South trade flows South-South Export (2005): Total = $1,699.8 billion Asia Intra Asia $1,343 billion $48.9 billion $61.4 billion The Americas $50.21 billion $9.4 billion Intra Americas $56.1 billion Africa Intra Africa $9.3 billion $94.27 billion $27.13 billion It is worth noting that interregional trade is only a minor component of South–South trade. The bulk of South–South trade occurs among countries within the same region. In Asia, intraregional exports amounted to $1.3 trillion in 2005, accounting for over 90 per cent of its South–South exports. Similarly, for the Americas, intraregional trade explains over 60 per cent of its South–South exports. For Africa, however, the share of intra-Africa trade out of total South– South trade actually fell from 47 per cent in 1995 to 31 per cent in 2005. Asia represents the most important destination of its South–South exports. Still, there have been signs that inter-subregional trade between and among countries in northern, East and South Africa is on the rise, reflecting progress in arrangements for regional integration, such as SADC and COMESA. The most-traded sector in South–South trade was the manufacturing sector, with manufactured goods such as electrical goods, machineries, mechanical appliances and computer equipments claiming 37 per cent of total South–South trade — an increase of 31 per cent in 1995 (Annex Table 3.1). Fuel was the second-most traded sector: its share accounted for 21 per cent of total exports and posted the largest increase, as it rose from a level of 10 per cent in 1995. Textiles, clothing and agricultural products experienced a steep decline in the share of total South–South exports in 2005, as the share of these sectors decreased by almost half. 4 Issues in New Geography of International Trade The overall ranking of exported sectors within the South, however, largely reflects exports from Asia, where manufacturing sectors accounted for nearly half of all exports to the South, and its sectoral share substantially increased from 35 per cent in 1995 to 45 per cent in 2005. In the case of the Americas, agriculture was the leading export sector, accounting for 24 per cent of the region’s total South–South exports — a lower level than in 1995. Three other sectors (fuel, natural resource-based products and base metal and metal articles) accounted for about 13–15 per cent of exports, a significant increase from 1995. Two other sectors, manufactured goods and transport, each claimed about 10 per cent, also with an increase over 1995. As for Africa, its exports to the South were largely concentrated in the fuel sector, which accounted for almost 60 per cent of total exports to the South. The balance was taken up by three other sectors: agriculture, base metals and related articles, and natural resource-based products. Exports of manufactured goods accounted for a mere four per cent of Africa’s total South–South exports in 2005, a decrease from 1995 levels (Annex Table 3.2, Figure 6). Figure 6. Sectoral shares of South-South exports (2005) Asia Americas Africa 0% 10% 20% 30% 40% 50% 60% 70% 80% Agri Natural res Fuel Base metal & article Plastic & rubber Manuf Textile & apparel Transport 90% 100% Chemical This all suggests a high degree of regional specialization in exports among the South, as is manifested in the top ten sectors that were traded in between developing regions (Annex Table 4.1). Trade between Africa and Asia is a particularly clear example of interregional specialization. Africa imports a wide range of manufacturing products from Asia, ranging from textiles and apparel articles to electronic goods and vehicles. On the other hand, almost 80 per cent of Africa’s exports to Asia are natural resources, including oil, mineral ores and base metal products. In trade between Africa and the Americas, fuel accounted for over 80 per cent of exports from Africa to the Americas, showing the highest degree of concentration among all interregional trade relationships, while approximately half of what Africa imported from the Americas was in the agricultural-food sector (e.g. prepared foodstuffs, animal and vegetable products, fats and oil). The manufacturing sectors of these two regions accounted for a relatively small share of their export portfolios. Similarly, in trade between Asia and the Americas, two major export sectors from the Americas were natural resource-based products and agriculture, each claiming 46 and 34 per cent of exports respectively, while Asia’s exports to the Americas largely consisted of products from the manufacturing sector. What is interesting in this trade relationship is that the export bundle from Asia to the Americas, e.g. electrical machineries, appliances and vehicles, was very similar to the export bundle from the South-South Trade: The Reality Check 5 Americas to the Rest of the World. In other words, the Americas import manufacturing goods from Asia despite having the capacity to produce manufacturing goods which they export to developed countries (particularly to the United States), as well as to developing countries within the Americas. South–South trade within a region features more sectoral diversification than interregional trade. In trade within Africa, for instance, foodstuffs (e.g. prepared foodstuffs, vegetables) become a major exported sector, following exports of resource-based products. In trade within the Americas, vehicles and other manufacturing goods, such as electric machinery, which do not appear in their export bundles to Asia or to Africa, become a major exported sector. On the contrary, however, intra-Asia trade shows more concentration than diversification as compared to their trade with other developing regions. The manufactured goods, particularly those of high-skill components, accounted for a much higher share in intra-Asia exports than inter-regional ones. Textiles and clothing, which account for the bulk of exports to Africa and to the Americas, are of lesser importance in intra-Asian trade. C.2 Findings at a subregional level An aggregated view at the regional level conceals the existence of wide variations in involvement with Southern trade partners across countries within a region. The study grouped developing countries into 14 subregions as follows: (i) Africa – East Africa, Central Africa, North Africa, South Africa and West Africa; (ii) the Americas – the Caribbean, Central America, South America 1 (covering the Andean group of countries plus Surinam and Guyana), and South America 2 (covering the Mercosur member countries plus Chile); and (iii) Asia – East Asia, the Pacific, South-East Asia, South Asia and West Asia. The share of exports to the South out of total exports varies from 9 per cent (Central America) to 56 per cent (South-East Asia). It also shows that almost all subregions, except the Caribbean and Central America, showed an increase in the share of exports to the South between 1995 and 2005. All Asian subregions, with the exception of the Pacific subregion, featured higher shares of South–South exports than the overall average of 46 per cent. However, the Pacific subregion posted one of the largest increases in the share of South–South trade. East Asia, which includes export giants such as China, the Republic of Korea, and Taiwan Province of China, exported goods to the South worth $768 billion in 2005, accounting for 45 per cent of total South–South exports for the year (Annex Table 5.1). South-East Asia, which is represented by the members of ASEAN, claimed another 21 per cent of South–South exports. These two subregions are major destination of South–South exports, together absorbing 72 per cent of total exports from the South. Even when exports within and between these subregions are excluded, these subregions received 17 per cent of total South–South exports, almost twice as much as all the Americas imported from the South. East Asia in particular ranks as either the largest or second-largest export destination for almost all subregions, including itself (Annex Table 5.2). Apart from exports to East and South-East Asia, a big chunk of South–South trade remains within the same subregion, except in the case of South Asia and Central Africa. West Asia, South America 2 and South Asia also accounted for a relatively large share of South– South exports, each claiming 16, 6 and 4 per cent, respectively. 6 Issues in New Geography of International Trade In Africa, East Africa stands out as a subregion with a particularly high share (53 per cent in 2005) of South–South exports. The share of South–South trade in other sub-Saharan subregions was at about 35 per cent in 2005, and 20 per cent in North Africa. What is notable is that all the African subregions exhibited a significant increase in the share of South– South trade from 1995 levels. As for the Americas, the intensity of South–South trade is most significant in South America 2, whose exports to the South increased from 47 per cent of its total exports in 1995 to 51 per cent in 2005. South America 1, on the contrary, exhibited the largest fall in the share of South–South trade from 1995 levels. Table 1. South-South export as a percentage of a subregion’s exports to the world Asia: Africa: Americas: East Asia Pacific South Asia South-East Asia West Asia Central Africa East Africa North Africa South Africa West Africa Caribbean Central America South America 1 South America 2 Exports to the South (% of total exports) 1995 2005 47.8 50.1 15.8 21.5 34.5 47.9 47.7 55.6 33.8 46.6 14.1 34.7 38.9 53.5 15.7 19.6 26.5 37.4 24.0 35.3 26.4 25.9 9.2 9.4 30.4 24.0 46.6 50.5 40.8 45.5 At a country level, the so-called “Asian dragons and tigers” dominate South–South trade. China topped the Average ranking of the value of South–South Source: UNCTAD Trade Information System. exports in 2005 (Annex Table 5.3). The top four Asian countries – China, Hong Kong China, Republic of Korea and Singapore – together claimed almost half of total South–South exports. Fourteen of the top 20 countries in the ranking were from Asia. These four countries, along with Taiwan Province of China, Malaysia, Thailand, Indonesia and Philippines, claimed 65 per cent of total South–South exports in 2005. The highest ranked nonAsian country was Brazil at 10th place, followed by Argentina (14th), Chile (16th), South Africa (17th), Mexico (18th) and Nigeria (20th). These countries together claimed about 8 per cent of total South–South exports in 2005. D. COMPARATIVE ADVANTAGE, TRADE COMPLEMENTARITY IN SOUTH-SOUTH TRADE AND THE DYNAMICS OF SOUTH–SOUTH TRADE EXPANSION D.1 Sectoral specialization in South–South trade As seen in section C.1, a significant amount of South–South trade, particularly interregional trade, appears to due to sectoral specialization of production/exports in different developing subregions. The degree of sectoral specialization can be estimated using the index of Revealed Comparative Advantage (RCA). The value of the RCA index is determined by comparing the weight of certain sectors in a country’s export basket to that of the “reference group”. Using the normalized approach to calculate the RCA index suggested by Laursen (Laursen, 2000), we measured the normalized RCA index based on the share of a product group, classified at the HS 4-digit level (covering 1,241 product groups), in a subregion’s total exports to the South, relative to that of total South–South exports, which is our South-South Trade: The Reality Check 7 reference group.5 When the value of the normalized index of a given product group is above 0 (and under or equal to 1), the subregion in question has a comparative advantage in that product group in relation to other subregions included in South–South trade. methodological note on the calculation of the RCA index is given in the Annex. As East Asia claims a substantial share in the reference group, i.e. total South–South exports, the values of normalized RCA of this subregion are likely to be close to zero, as the numerator (the share of a sector in a subregion) and the denominator (the sector’s share of total South–South trade) are likely to have a similar value. Sectors with a comparative advantage Product groups with comparative advantage in 2005 across product sectors for each subregion are plotted in the RCA Graph 1 in the Annex. The orange dots are the items which had a comparative advantage both in 1995 and 2005, while the green dots are the ones which acquired a comparative advantage only in 2005. The frequency of product groups with a comparative advantage, measured as a share of product groups with comparative advantage in total product groups for each subregion, is given in Annex Table 6.1. Annex Table 6.2 provides the frequency of comparative advantage in 2005 in sectors of different skill levels. The highest frequency of a comparative advantage was found in East Asia, but as previously mentioned it represents the reference group because of its sheer weight in South–South trade. South Asia was second most important after East Asia with respect to frequency of comparative advantage in South–South trade in both 1995 and 2005. South Asia was followed by Central America, South Africa and South America 2. At the opposite end of the scale was Central Africa, where only 5 per cent of its exports revealed a comparative advantage. Subregions in West Africa, the Pacific, West Asia, North Africa and the Caribbean showed a comparative advantage in 20 per cent of their exported product groups. The plotted figures indicate that East Asia’s comparative advantage is remarkably concentrated in a number of manufacturing sectors, suggesting that the subregion may have entered the stage of export specialization. A tendency towards specialization can also be seen in the patterns exhibited by Central America, South-East Asia, South America 2 and South Asia. The figures also suggest that a number of subregions, namely South Asia, East Africa, Caribbean and the Pacific, had acquired comparative advantage in “new” product groups in 2005, as indicated by the number of green dots. These dots may point out the sectors of successful export diversification by these subregions. Annex Table 6.2 presents the export concentration of African subregions in the primary commodity sector which includes agriculture, and fuels (classified as energy sector in the table). These sectors claimed 75 per cent of exports with comparative advantage from Central Africa, 58 per cent of exports from North Africa, and 56 per cent of exports from West Africa, and so on. One exception was South Africa, which showed higher-than-average frequency of comparative advantage in low- to high-skill manufacturing sectors. In the base metal sector, South Africa revealed a particularly high frequency of comparative advantage in iron, steel and steel products. 5 The UNCTAD South–South Trade Information System includes 1,241 product categories and 7 categories designated as “special uses”. 8 Issues in New Geography of International Trade Annex Table 6.2 also indicates that East Asia had an above average frequency of comparative advantage, particularly in the labour-intensive manufacturing sector: half of its product groups with a comparative advantage came from the labour-intensive or high-skill manufacturing sectors. The comparative advantage of South-East Asia was found in the medium-skill and high-skill manufacturing sectors. The majority of these medium- to high-skill manufactured goods were traded between East Asia and South-East Asia, reflecting a high degree of intra-industry trade resulting from productionsharing schemes. The table also shows that Central America had a significant comparative advantage in the high-skill manufacturing sector, particularly in the chemical product groups, such as pharmaceutical products, tanning extracts, paints and vanishes, and cosmetics. South Asia’s comparative advantages were largely found in labour-intensive sectors such as base metal products, textile and apparel articles and chemical and allied products. Improvement in comparative advantages in the decade between 1995 and 2005 Which developing subregions improved their comparative advantages most in South–South trade in the decade between 1995 and 2005? RCA Graph 2 in the Annex provides a plot of product groups according to their associated normalized RCA values in 1995 and 2005. A 4-digit figure attached to a point is the HS 4-digit product code. The product groups that are placed above the 45° line running diagonally from the bottom-left to the top-right are the ones whose normalized RCA value in 2005 was higher than in 1995. The subregions that improved their degree of comparative advantage between 1995 and 2005 were South Asia, East Africa, Pacific, and South America 1. South Asia and East Africa showed the highest degree of improvement. Sixty-four per cent of South Asia’s product groups and 55 per cent of East Africa’s are placed on the left of the 45° line, particularly in the top-left quadrant, suggesting that these subregions increased their export intensity in a large number of product groups in the decade between 1995 and 2005. Many of the product groups with improved comparative advantage were in the manufacturing sectors for both subregions, such as textiles and processed metals. East Africa also evinced a high comparative advantage in the agricultural sector, while South Asia demonstrated its comparative advantage in the chemicals and the machinery sectors. The plot nicely illustrates export concentration. For instance, in Central Africa, West Asia, and the Pacific (and to a larger extent the Caribbean), a large portion of the product groups are spread along the two axes, with a small group showing extremely high RCA values in both 1995 and 2005. Product groups along the axes are the ones whose normalized RCA values were close to minus 1, either in 1995 or in 2005. These groups are particularly susceptible to a sudden surge or drop in export values in any given year. They largely consisted of primary commodities that are prone to internal supply shock or external demand shocks. Product groups that are concentrated in the top-right corner are the ones that had the normalized RCA values close to 1 in both years, i.e. those that had extremely high export shares in both years. Those products were also of primary commodities, such as mineral ores and timber products for Central Africa, vanilla, pearls and corals for the Pacific, cotton for West Africa, and aluminum and nickel oxide for the Caribbean. South-South Trade: The Reality Check 9 The height of comparative advantage Finally, Annex Table 6.3.a and 6.3.b provide the ranking of subregions according to their aggregated values of normalized RCAs in six broad sectors (Table 6.3.a) and twenty subsectors (Table 6.3.b).6 Aggregated values can be a rough estimate of the degree of comparative advantage exhibited in a given sector by each subregion. Let us take those subregions that improved their comparative advantage – South Asia, East Africa and South America 1 – as an example, and examine the sectors/subsectors in which these subregions had high as well as growing comparative advantage in South–South trade. Although South–South exports from South Asia account for less than four per cent of total South–South trade, the subregion has a high and growing comparative advantage in a wide range of export sectors to the South. South Asia was ranked within the top five in all sectors and in most of subsectors in 2005. South Asia also showed an increase in comparative advantage in all sectors from the 1995 level. The increase was particularly significant in the textiles and articles (particularly apparel articles) sector, and in a number of subsectors, such as base metal products, machineries, and chemical and allied industry products. East Africa held the top place in the ranking in comparative advantage in the agricultural sector, reflecting a particularly high comparative advantage in animal products, vegetable products and hide, skin and leather products. The improvement in comparative advantage between 1995 and 2005 was particularly significant in the agriculture and the base metal and metal product sectors. While East Africa does not reveal significant comparative advantage in the manufacturing sector, there are signs of improving comparative advantage, particularly in textile products. The overall degree of comparative advantage of South America 1 is not as high as regional neighbours such as South America 2 or Central America, but it is showing a steady increase in comparative advantage in all sectors. The main area of comparative advantage is found in product subsectors such as cement, footwear and headwear, and prepared foodstuffs. However, South American 1 is displaying an increasing comparative advantage in base metal and products. The above findings suggest that, while South–South trade may be seen as being dominated by Asian giants, it seems to provide ample trading opportunities for other developing subregions, as suggested by increasing comparative advantages demonstrated by the above subregions. This suggests a future research agenda on the rapidly growing demand for imports in volume and in variety by the South and the way in which this creates positive impetus for production and export diversification by developing countries, particularly in countries which have been on the fringe of international trade. D.2 Trade complementarity among developing countries Different patterns in revealed comparative advantage as illustrated above suggest trade complementarity among developing subregions. But what is the extent of trade complementarity within 6 These sectors and subsectors (in parenthesis) are: agriculture (animal products, vegetable products, prepared foodstuffs, fats & oils, and hides-skin-leather); natural resources and resource-based products (fuels, ore & minerals, plastic & rubber, stonesglass- cement, wood & products); base metal and products (base metal & products), chemical and allied industries (chemical and allied industries); textiles and articles (apparel, footwear & head gears, textiles); and manufacturing (machineries, electrical machineries-computers-telecom, etc., optical & precision tools, miscellaneous manufactured goods, vehicles). 10 Issues in New Geography of International Trade the South, relative to that with the rest of the world, and to what extent does a developing subregion take advantage of such trade complementarity with other developing subregions? Using the Trade Complementarity Index (TCI), the Annex Figure TCI1 maps the degree of trade complementarity between two subregions in 1995 and 2005. A positive TCI value indicates a complementarity between two trading partners (see the Annex for the methodology for calculating the TCI.) First, we see that trade complementarity among subregions in the South is on the rise, as can be seen from the majority of partner (i.e. importing) subregions are placed on the left-hand side of the 45° diagonal line in each subregion’s graph. Across all, subregions that reveal high trade complementarity with almost all the subregions are South-East Asia, Central America, East Asia and South America 2. In most cases, partner subregions are spread along the 45° line, from the bottom-left corner to the top-right corner, indicating different degrees of trade complementarity with different partners. One exception is South Asia, whose graph reveals that its trading partners are largely concentrated at the TCI of 40. South Asia also improved overall trade complementarity within South–South trade, followed by East Africa, North Africa and West Africa, which suggests ongoing export diversification in these subregions. In order to examine whether trade complementarity between two subregions is reflected in the actual trade flows between two subregions, we compare the TCI values of two trading partners to the intensity of trade between them, as measured by the export intensity index (EII) between two subregions. Annex Figure TCI 2 maps the trade partners for each subregion according to the TCI and the EII in 2005. The Rest of the World (RoW) as a trading partner was included as a reference. The graph is divided into four quadrants: • The bottom-left quadrant includes partners whose trade complementarity and export intensity is low. This is not surprising: if the export portfolio of Country A does not match the demand portfolio of Country B, the trade potential between these two countries is expected to be low. • The bottom-right quadrant includes partners with low trade complementarity but high export intensity. This can be the reflection of factors other than trade complementarity that are important to trade, including geographical proximity, cultural similarities, historical trading relationships, and preferential trade agreements. • The top-right quadrant includes partners with which both trade complementarity and export intensity is high. In this case, the existing trade complementarity is being exploited. • The top-left quadrant includes partners with high trade complementarity but low export intensity, i.e. trade complementarity has not yet been fully exploited. Looking across the quadrant of all subregions, we see that there is scope for exploiting interregional trade. This is particularly evident between Asia and the Americas. From Asian subregions, partners in the top-left quadrant are all but subregions within the Americas (Central America, South America 1 and 2). Central America appears as the market to exploit for all Asian subregions. Likewise, the Americas have not fully exploited their trade complementarity with South-East Asia and East Asia. As for African subregions, South-East Asia and Central America present interesting market opportunities for these subregions. South-South Trade: The Reality Check 11 The bottom-right quadrant shows partner subregions to which high intensity of exports is made despite relatively low trade complementarity. In most cases, partners in this quadrant are those with geographical proximity to the exporting subregion, representing intraregional trade. It also includes subregions with close cultural proximity, such as trade between North Africa and West Asia, or a traditional trading network, such as trade between South Asia and East Africa. This suggests that geographical proximity and cultural proximity do matter in South–South trade, as logistics and cultural factors ultimately contribute to reducing trading costs. African subregions generally show low complementarity with most developing subregions because their export portfolios are largely limited, with high concentration in primary commodities. But trade between Africa and other regions, such as the Americas, can be further exploited. One notable trading partner of the African subregion is South America 2. This subregion is the only one that appears in the top-right quadrant, i.e. it displays high trade complementarity and high export intensity in all African subregions, with the exception of East Africa. The major export to South America 2 from the African subregions is fuel. In return, South America 2 also features high export intensity with African subregions again, with the exception of East Africa. Export from South America 2 to Africa largely consist of agricultural and foodstuffs and vehicles. D.3 Dynamics of South–South export To what extent does South–South trade expand in a pure sense, i.e. involving trade with new partners and in new goods? Trade expansion occurs following an increase in trade between existing trade partners and “new trade” taking place with new trading partners. We now examine the physical expansion of South– South trade, i.e. developing countries exporting to new markets, by breaking trade growth down into an extensive and intensive margin in terms of trading partners using a methodology suggested by Fugazza and Molina (2008). An increase in the extensive margin is associated with trade taking place with a new partner, while an increase in the intensive margin of trade refers to an increase of trade with an “historical” trading partner. The analysis is based on bilateral import Table 2. Bilateral trade data of selected countries data extracted from the UN COMTRADE data for the period 1995 and 2005. The products Partners are classified at 3-digit SITC 3 level (261 Existing New Products product groups).7 We selected 57 countries whose trade data were available both in 1995 Existing 70.27% and 2005, in order to make the comparison 17.36% between these two years possible. Trade New 12.37% among the 57 selected countries accounted for 87 per cent in 1995 and for 88 per cent in 2005 of the total value of South–South trade, and consisted of 2,157 trade relationships in 1995 and 2,442 trade relationships in 2005. We assume that trade relationships between 1995 and 2005 were stable and that trade that did not take place in 1995 had not taken place in prior years, so the number of new trade can be overestimated to a certain extent. 7 12 We resorted to the SITC classification, as the UNCTAD SSITC was in the process of being updated during the analysis. Issues in New Geography of International Trade Among the 2,442 trade relationships that took place in 2005, 424, or 17 per cent, of the number of all trade relationships can be classified as “new trade”, i.e. trade between two countries that did not trade in 1995. In terms of trade value, “new trade” accounted for 5 per cent of the value of total trade within the sample. Seventy per cent of the number of bilateral trade between selected countries took place between historical partners on historical good i.e. pure intensive margin, accounting for 91 per cent of the value of total South–South trade. The remaining 12 per cent was trade between historical partners on a new product, accounting for 4 per cent of the value of total South–South trade. The countries with the largest number of trading partners in 2005 were Brazil (57), China (57), Indonesia (57), Malaysia (57), Thailand (57), India (56), and the Republic of Korea (56). All these countries had already traded with almost all these countries in 1995. All countries in the sample increased the number of partners between 1995 and 2005, with the exception of Sudan and Hong Kong China (Annex Table 7.1). The countries that increased the number of trade partners most were Qatar, Seychelles, Jordan, Mauritius and Togo. Products with the highest traded values in new trade relationships included high-end manufactured goods and components, such as telecom equipments and parts, office accessories, computer equipment and electric circuits, which suggest that regional production-sharing is one of major drivers of both extensive and intensive margins of South–South trade (Annex Table 7.2). These are traded between or within East Asia and South-East Asia, indicating a continuing growth in regional production-sharing. As for the Americas, the most traded products between new trade partners, in terms of value, were passenger cars and automobile parts. In Africa, those were pearls and other precious stones, although this was only valid in a single trading relationship within a group of selected countries. Products in intensive margins, i.e. those that were traded between “historical partners”, included parts and components, petrol, and equipment for the telecoms, computer, optical and electronics sectors, again implying an increased intensity of production-sharing schemes. Within the sample considered, the share of parts and components in the total trade value doubled, from 8 per cent in 1995 to 16 per cent in 2005. Other products that showed the same sustained upward trend included office, telecoms and computer equipment. Products with high trade values in new trade are, however, not necessarily the same as those that are traded most frequently in new trade; for example, in 2005 the most frequently traded products were those of light manufacturing or consumer goods, such as plastic articles, printed matters and clothing and apparel articles, followed by manufacturing parts for electrical goods. This could perhaps be explained by high price elasticities of these products. However, further research is needed to identify the reasons for this. South-South Trade: The Reality Check 13 E. CONCLUDING SUMMARY The main findings from the “reality check” on South–South trade are the following: 1. In the decade between 1995 and 2005, the expansion of South–South trade was greater than the growth rate of international trade; 2. At this stage, the bulk of South–South trade takes place within regions. However, growing trade complementarity among developing subregions suggests new trading opportunities in interregional trade, e.g. between Africa and the Americas; 3. A significant amount of trade that is taking place between subregions with seemingly low trade complementarity suggests the importance of factors that reduce overall trade costs, such as geographical proximity, cultural similarities and historical trading linkages; 4. Asian countries, particularly these “tigers” and “dragons” among them, dominate South–South trade in terms of trade value. East Asia and South-East Asia have established themselves as prominent exporters of higher value-added manufacturing goods in world trade. It appears that a substantial proportion of market shares in manufacturing sectors in the South has shifted to East Asian suppliers from producers of the North; 5. Notwithstanding, South–South trade offers new trading opportunities for countries other than those in East and South-East Asia, as demonstrated by extremely high growth in South–South exports from Africa; 6. Also, South–South trade seems to provide ample opportunity for production and export diversification for subregions whose exports to the South may only represent a minute share of total South–South trade, as shown by improvement in the comparative advantage manifested by subregions such as South Asia and East Africa in the decade between 1995 and 2005; 7. Dynamic expansion in South–South trade over recent years reflects not only an increase in trade values between traditional partner countries but also the new trading patterns taking place between countries that have never traded before. The rise of new trade relationship is one of the drivers in the dynamics of South–South trade; 8. Existing production-sharing schemes in developing countries have been intensifying and new ones are being developed, as reflected by the huge share in exports of manufacturing parts and components in new trade relationships, as well as in established relationships. Areas for future research This paper has sought to shed light on the dynamic expansion of South–South trade, using simple methods for a reality check. This study also identifies a number of areas for future research, including the need to investigate: 14 • South–South trade expansion at more disaggregated level; • The possible path through which the prospect and actual growth in South–South trade can influence production and export diversification in different developing countries; • The potential impact of regional or interregional preferential trade arrangements on South–South trade; • The economic impact of regional production-sharing schemes in the South–South dimension; • The factors influencing the creation of new trade relationships, and trade in new products, such as market conditions (changes in demand, market access and entry conditions), development of global and regional supply chains, and changes in production/trade costs. Issues in New Geography of International Trade BIBLIOGRAPHY De Benedictis L and Tamberi M (2001). A note on the Balassa index of revealed comparative advantage, unpublished paper. Feenstra R, Lipsey R, Deng H, Ma A and Mo H (2005). World Trade Flows: 1962-2000, NBER Working Paper No. W11040. Fugazza M and Molina AC (2008). On the patterns of the intensive and extensive trade. UNCTAD (forthcoming). Fugazza M and Vanzetti D (2006). A South–South Survival Strategy: The Potential for Trade among Developing Countries, UNCTAD Policy Issues in International Trade and Commodities, Study Series No. 33, UNCTAD/ITCD/TAB/34. Gaulier G, Zignago S, Sondjo D, Sissoko A and Paillacar R (2007). BACI: A World Database of International Trade Analysis at the Product-level 1989-2005 version, CEPII Working Paper (forthcoming). Imbs J and Wacziarg R (2003). “Stages of diversification”, American Economic Review, Vol. 93, No. 1, pp. 63-85. Laursen K (1998). Revealed comparative advantage and the alternatives as measures of international specialisation, DRUID Working Paper no. 98-30, Danish Research Unit for Industrial Dynamics. Laursen K (2000). Trade Specialisation, Technology and Economic Growth: Theory and Evidence from Advanced Countries, Cheltenham, UK and Lyme, US: Edward Elgar. OECD (2006). South–South Trade in Goods, OECD Trade Policy Working Paper No. 40 (TD/TC(2006)8/ FINAL). UN (2007). World Economic Situation and Prospects 2007. Geneva: United Nations UNCTAD (2007a). Commission on Trade in Goods and Services, and Commodities, Eleventh session, Agreed Recommendations, (TD/B/COM.1/L.34), 26 March, paragraph 7. UNCTAD (2007b). World Investment Report 2007. Geneva: United Nations. UNCTAD (2006a). World Investment Report 2006. Geneva: United Nations. UNCTAD (2006b). Review of Maritime Transport 2006. Geneva: United Nations. UNCTAD (2006c). Information Economy Report 2006. Geneva: United Nations UNCTAD (2006d). Handbook of Statistics 2006. Geneva: United Nations UNCTAD (2006e). Report of the Trade and Development Board on the third part of its twenty-third special session, Agreed Outcome of the Mid-Term Review of UNCTAD XI, (TD/B(S-XXIII)/7 (Vol I)), 11 October 2006, paragraphs 5, 18, 40 and 46. South-South Trade: The Reality Check 15 UNCTAD (2005). Trade and Development Report 2005, New York and Geneva: United Nations. UNCTAD (2004a). Strengthening participation of developing countries in dynamic and new sectors of world trade: Trends, issues and policies, (TD/396), 17 May. UNCTAD (2004b). New Geography of International Trade: South–South Cooperation in an Increasingly Interdependent World, (TD/404), 4 June. UNCTAD (2004c). São Paulo Consensus of UNCTAD XI, (TD/410), 25 June 2004, paragraphs 25, 69, 92, 96 and 113. 16 Issues in New Geography of International Trade ANNEX I – NOTE ON THE SOUTH–SOUTH TRADE INFORMATION SYSTEM (SSTIS) Data used in this analysis are those from UNCTAD South–South Trade Information System (SSTIS), a work in progress. The SSTIS was conceived to deal with the missing values data, which is one of the major problems in trade data. There are two main reasons why the data may be missing: either because there is no trade between two countries, in which case the trade value is zero, or because the country in consideration did not report its trade flows, in which case trade flows need to be estimated. In the UN Comtrade database, the missing values’ issue is particularly important for developing country trade data, and therefore its treatment is essential when carrying out any analysis. The treatment of missing values requires first their identification and secondly their estimation. Several authors (see for instance Feenstra et al.(2005), Gaulier et al.(2007)) have developed different methodologies to overcome this problem and harmonize import and export data. The SSTIS deals only with the problem of missing values and provides an alternative solution to their treatment by looking at the aggregate trade data of each country. The first problem with missing values is their identification. In the SSTIS, missing values are identified by using the information contained in the pattern of trade of each country over time.8 In other words, the SSTIS looks at the data that is available at the aggregate level for each year and identifies the years for which the data is missing9. Once the missing values were identified, they are estimated by means of five different methods, namely, interpolation; extrapolation; data averaging; mirror data and data replication. The choice of the estimation method is again based on the data availability for each country. In order to have complete coherence the estimated values are compared to a benchmark database (UNCTAD GlobStat) and a general adjustment rate is computed for each year. The general adjustment rate is then applied to the estimated values. The SSTIS, once fully developed, will contain bilateral trade flows of 139 developing countries and territories, plus 82 countries in the rest of the world, reported to the UN Comtrade statistical database. The SSTIS will overcome the missing data problem in the UN Comtrade by systematically applying the estimation method developed in UNCTAD/DITC/TAB; and it will cover a time series of bilateral trade flows from 1991 onwards, with a possibility to extend the coverage into 1980s. For the time being, the SSTIS is a work in progress, and for that reason this report employs estimates from SSTIS only at the aggregate level and at 2-digit level of disaggregation. The product grouping used in this study is given in Table A1 below. The “South” in this database is defined as: countries that are the members of the Group of 77 and China plus other countries that claimed a developing country status in the framework of the World Trade Organization (WTO) plus those developing territories that are reported to UN Comtrade. The classification of regions and subregions used in this study is given in Table A2 below. 8 Based on the availability of the data and on the assumption that when a country declares its trade flows it declares everything. 9 For a given year, the SSTIS assumes that if a country declares its trade flows it declares everything. This means that if for a given year, a country reports at least one trade value, any missing value in the same year is considered as zero i.e. there was no trade. South-South Trade: The Reality Check 17 Table A1. Sectoral definition used in this chapter Code Description 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Animals and animal products Vegetable products Fats and oils Prepared foodstuffs, beverages, etc… Ores and minerals, excl. fuels Fuels Chemicals & allied industries Plastics and rubber Raw hides & skins, leather, furs, etc. Wood and wood products Textile and textile articles Footwear, headgear, umbrellas, etc. Articles of stone, glass, precious stones & metals Base metals and products Computers, nuclear reactors, boilers, machinery & mechanical appliances Electrical machinery & equipm., telecomm equipm., electronics excl. computers and parts thereof Railway or tramway locomotives and equipment Vehicles other than railway or tramway rolling stock Aircraft & spacecraft, ships, boats & floating structures Optical and precision instruments Arms and ammunition Miscellaneous manufact. articles Works of art, etc Special Usesa a HS Chapters covered 01 - 05 06 - 14 15 16 - 24 25 - 26 27 28 - 38 39 - 40 41 - 43 44 - 49 50 - 63 64 - 67 68 - 71 72 - 83 84 85 86 87 88 - 89 90 - 92 93 94 - 96 97 98-99 This category takes into account miscellaneous goods or goods that reporter countries were not able to classify in any other category. Because of its composition, this category is mainly informative. 18 Issues in New Geography of International Trade Table A2. Definition of region/sub-region used in this chapter Country 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 Central African Republic Chad Congo, Democratic Republic Congo, Republic of Equatorial Guinea Gabon Sao Tome and Principe Burundi Djibouti Eritrea Ethiopia (excludes Eritrea) Kenya Malawi Rwanda Somalia Tanzania (United Republic of) Uganda Zambia Algeria Egypt Libyan Arab Jamahiriya Morocco Sudan Tunisia Angola Botswana Comoros Lesotho Madagascar Mauritius Mozambique Namibia Seychelles South Africa Swaziland Zimbabwe Benin Burkina Faso Cameroon Cape Verde Cote d’Ivoire Gambia Ghana Guinea Guinea-Bissau Liberia Type Region Subregion S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Africa Central Africa Central Africa Central Africa Central Africa Central Africa Central Africa Central Africa Eastern Africa Eastern Africa Eastern Africa Eastern Africa Eastern Africa Eastern Africa Eastern Africa Eastern Africa Eastern Africa Eastern Africa Eastern Africa North Africa North Africa North Africa North Africa North Africa North Africa Southern Africa Southern Africa Southern Africa Southern Africa Southern Africa Southern Africa Southern Africa Southern Africa Southern Africa Southern Africa Southern Africa Southern Africa Western Africa Western Africa Western Africa Western Africa Western Africa Western Africa Western Africa Western Africa Western Africa Western Africa .../... South-South Trade: The Reality Check 19 Table A2. (continued) Country 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 Mali Mauritania Niger Nigeria Senegal Sierra Leone Togo Antigua and Barbuda Aruba Bahamas Barbados Bermuda Cuba Dominica Dominican Republic Grenada Haiti Jamaica Montserrat St. Kitts and Nevis St. Lucia St. Vincent and the Grenadines Trinidad and Tobago Belize Costa Rica El Salvador Guatemala Honduras Mexico Nicaragua Panama Bolivia Colombia Ecuador Guyana Peru Suriname Venezuela (Bolivarian Republic of) Argentina Brazil Chile Paraguay Uruguay China Hong Kong, China Korea, Democratic People’s Republic Korea, Republic of Type S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S Region Subregion Africa Africa Africa Africa Africa Africa Africa Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Americas Asia Asia Asia Asia Western Africa Western Africa Western Africa Western Africa Western Africa Western Africa Western Africa Caribbean Caribbean Caribbean Caribbean Caribbean Caribbean Caribbean Caribbean Caribbean Caribbean Caribbean Caribbean Caribbean Caribbean Caribbean Caribbean Central America Central America Central America Central America Central America Central America Central America Central America South America 1 South America 1 South America 1 South America 1 South America 1 South America 1 South America 1 South America 2 South America 2 South America 2 South America 2 South America 2 Eastern Asia Eastern Asia Eastern Asia Eastern Asia .../... 20 Issues in New Geography of International Trade Table A2. (continued) Country 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 Macao, China Mongolia Taiwan Province of China Cook Islands Fiji Kiribati Nauru New Caledonia Papua New Guinea Samoa Solomon Islands Tonga Tuvalu Vanuatu Afghanistan Bangladesh Bhutan India Iran (Islamic Republic of) Maldives Nepal Pakistan Sri Lanka Brunei Darussalam Cambodia Indonesia Lao People’s Democratic Republic Malaysia Myanmar Philippines Singapore Thailand Timor-Leste Viet Nam Bahrain Iraq Jordan Kuwait Lebanon Oman Qatar Saudi Arabia Syrian Arab Republic Turkey United Arab Emirates Yemen Type S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S Region Subregion Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Asia Eastern Asia Eastern Asia Eastern Asia Pacific Pacific Pacific Pacific Pacific Pacific Pacific Pacific Pacific Pacific Pacific South Asia South Asia South Asia South Asia South Asia South Asia South Asia South Asia South Asia Southeast Asia Southeast Asia Southeast Asia Southeast Asia Southeast Asia Southeast Asia Southeast Asia Southeast Asia Southeast Asia Southeast Asia Southeast Asia Western Asia Western Asia Western Asia Western Asia Western Asia Western Asia Western Asia Western Asia Western Asia Western Asia Western Asia Western Asia * S = South (developing economies and territories) South-South Trade: The Reality Check 21 ANNEX II – NOTE ON THE CALCULATION OF INDICES 1. Index of Normalized Revealed Comparative Advantage Normalized Revealed Comparative Advantage (NRCA) Where ⎛ xij ⎞ ⎜ X ⎟ −1 i⎠ NRCAij = ⎝ ⎛ x sj ⎞ ⎜ X ⎟ +1 s⎠ ⎝ χ ij = country i’s exports of product j χ sj = South–South exports of product j Χi = country’s total exports Χs = South–South total exports • The index of Revealed Comparative Advantage (RCA) measures a pattern of exports specialization relative to a “reference group”. What it measures is a “revealed” comparative advantage in the sense that a high sectoral share relative to that of the reference group infers that a country enjoys a comparative advantage in that sector. • The value of the index of Revealed Comparative Advantage ranges between zero and infinity, with the critical value at 1. One problem with the Index is that the values are not comparable on both sides of the unity. The RCA value of sectors with weak comparative advantage (i.e. RCA < 1) ranges between zero and 1, while sectors with strong comparative advantage range between 1 and infinity (Laursen, 1998). Also, the spread of RCA values across sectors in each subregion cannot be directly compared. In order to evade these problems of asymmetry and make the RCA index comparable across different subregions, the study uses the “normalized” measure of RCA as suggested by Laursen (Laursen, 2000). 2. Trade complementary Index (Michaely, 1996) Trade Complementarity Index ⎡ n ⎛ m − x ik ij TCI kj = 100 * ⎢1 − ∑ ⎜ ⎜ 2 ⎢⎣ i =1 ⎝ ⎞⎤ ⎟⎥ ⎟⎥ ⎠⎦ Where: χ ij = the share of good i in global exports of country j (i.e. exports of good i from country j to the world) mik = the share of good i in all imports of country k (i.e. imports of good i from the world to country k) • The Trade Complementarity Index (TCI) is a measure of potential trade between two partners by comparing the export portfolio of country i to the import portfolio of country j. • The index is zero when no goods are exported by one country or imported by the other and 100 when the export and import shares exactly match. • Intuitively, the index indicates whether there is a match between the demand by one country and the supply by the other. In the index logic, trade complementarity between two partners is considered to be high, when the products imported by country k are the same than the ones exported by country j. However, the TCI has an inherent size bias, i.e. a subregion whose export portfolio is limited (or smaller than other subregions) will end up with having a low TCI value. South-South Trade: The Reality Check 23 3. Export Intensity Index Normalized Export Intensity Index ⎛ xij ⎞ ⎜ X ⎟ −1 i⎠ TII ij = ⎝ ⎛ x wj ⎞ ⎟ +1 ⎜ X w⎠ ⎝ 24 Where: χ ij = exports from country i to country j χ wj = exports from the World to country j Χi = country i total exports Χw = World total exports • The Export Intensity Index (EII) compares the share of exports from country i to country j in i’s total exports to the share of world exports to j. The index is used to examine whether the value of trade between two countries is greater or smaller than would be expected on the basis of their importance in world trade. • The EII values range from 0 to infinity, the reference point being 1. An index greater (lower) than one indicates a bilateral trade flow that is larger (smaller) than expected, given the partner country’s importance in world trade. Once normalized, the critical value is zero, and the index values range between minus 1 to 1. • If the EII is greater than 1, country j share in i’ exports is larger than country j share in world exports, implying that j as a market accounts for more in i’s export portfolio than in the world’ portfolio (i.e. i’ exports being relatively more concentrated in j ). Issues in New Geography of International Trade ANNEX III – FIGURES 1. Product groups with comparative advantage in 2005 Central Africa .8 .6 .4 0 .2 .6 .4 .2 0 Normalized RCA>0 in 2005 .8 Normalized RCA>0 in 2005 1 1 Caribbean 2000 4000 6000 8000 10000 0 2000 Product code (HS-4digit) NRCA>0 in 2005 given NRCA<0 in 1995 NRCA>0 in 2005 given NRCA>0 in 1995 NRCA>0 in 2005 given NRCA<0 in 1995 Western Africa 6000 8000 10000 NRCA>0 in 2005 given NRCA>0 in 1995 .8 .6 .4 .2 0 .2 .4 .6 .8 Normalized RCA>0 in 2005 1 1 Eastern Africa 0 Normalized RCA>0 in 2005 4000 Product code (HS-4digit) 0 2000 4000 6000 8000 0 10000 2000 Product code (HS-4digit) NRCA>0 in 2005 given NRCA<0 in 1995 4000 6000 8000 10000 Product code (HS-4digit) NRCA>0 in 2005 given NRCA>0 in 1995 NRCA>0 in 2005 given NRCA<0 in 1995 NRCA>0 in 2005 given NRCA>0 in 1995 North Africa .8 .6 .4 Normalized RCA>0 in 2005 0 .2 .8 .6 .4 .2 0 Normalized RCA>0 in 2005 1 1 Pacific 0 2000 4000 6000 8000 10000 Product code (HS-4digit) NRCA>0 in 2005 given NRCA<0 in 1995 NRCA>0 in 2005 given NRCA>0 in 1995 0 2000 4000 6000 8000 10000 Product code (HS-4digit) NRCA>0 in 2005 given NRCA<0 in 1995 NRCA>0 in 2005 given NRCA>0 in 1995 .../... South-South Trade: The Reality Check 25 1. Product groups with comparative advantage in 2005 (continued) South America 2 .6 .4 0 .2 Normalized RCA>0 in 2005 .6 .4 .2 0 Normalized RCA>0 in 2005 .8 .8 Western Asia 0 2000 4000 6000 8000 0 10000 2000 Product code (HS-4digit) NRCA>0 in 2005 given NRCA<0 in 1995 NRCA>0 in 2005 given NRCA<0 in 1995 NRCA>0 in 2005 given NRCA>0 in 1995 Southern Africa 6000 8000 10000 NRCA>0 in 2005 given NRCA>0 in 1995 1 .8 .6 .4 .2 0 .2 .4 .6 Normalized RCA>0 in 2005 .8 1 South Asia 0 Normalized RCA>0 in 2005 4000 Product code (HS-4digit) 0 2000 4000 6000 8000 0 10000 2000 Product code (HS-4digit) NRCA>0 in 2005 given NRCA<0 in 1995 4000 6000 8000 10000 Product code (HS-4digit) NRCA>0 in 2005 given NRCA<0 in 1995 NRCA>0 in 2005 given NRCA>0 in 1995 NRCA>0 in 2005 given NRCA>0 in 1995 Southeast Asia .4 0 .2 Normalized RCA>0 in 2005 .8 .6 .4 .2 0 Normalized RCA>0 in 2005 .6 1 Central America 0 2000 4000 6000 8000 10000 0 2000 Product code (HS-4digit) NRCA>0 in 2005 given NRCA<0 in 1995 NRCA>0 in 2005 given NRCA>0 in 1995 NRCA>0 in 2005 given NRCA<0 in 1995 South America 1 8000 10000 NRCA>0 in 2005 given NRCA>0 in 1995 .4 .3 .2 0 .1 Normalized RCA>0 in 2005 1 .8 .6 .4 .2 Normalized RCA>0 in 2005 6000 Eastern Asia 0 0 2000 4000 6000 8000 10000 Product code (HS-4digit) NRCA>0 in 2005 given NRCA<0 in 1995 26 4000 Product code (HS-4digit) NRCA>0 in 2005 given NRCA>0 in 1995 Issues in New Geography of International Trade 0 2000 4000 6000 8000 10000 Product code (HS-4digit) NRCA>0 in 2005 given NRCA<0 in 1995 NRCA>0 in 2005 given NRCA>0 in 1995 2. Change in comparative advantage between 1995 and 2005 2.1. Africa North Africa 4408 1301 2302 2620 0 7316 8107 79062401 -.5 2513 2512 8425106 5601 44139705 2711 2523 3823 2615 305 3602 8412 2402 8901 3507 9406 8427 2511 2804 8001 7304 303 5705 8407 2710 8907 4102 902 7403 7615 2203 7610 7311 8207 2525 9016 3209 9026 7215 9703 7301 1521 9027 7102 2942 3913 8428 2811 6306 7309 102 9015 2844 8431 8705 511 8205 1209 8716 4001 9010 8704 2520 7404 2508 1513 1101 901 8408 6309 9030 7307 6211 9706 7326 8413 1207 8426 9031 4418 4009 8429 8609 8438 2839 6304 2204 3407 8478 7308 5609 1103 9604 6813 3912 6506 4809 2501 3003 3606 8502 1208 8481 2713 8468 7212 8417 7116 3208 7001 2504 3304 3603 4016 8474 4412 2827 3306 4012 4901 8802 7313 7216 904 4911 7312 3104 7302 1704 7305 9101 3811 8458 8703 4819 4420 3925 1516 301 402 3006 3917 7612 8203 2519 2922 8904 6810 6112 8515 3819 203 7310 8112 2904 4707 6910 1801 8414 8467 6305 8702 8484 4101 3906 2714 3205 5408 7607 8311 1602 2830 3922 3305 8424 8701 6310 6307 7223 7315 7508 7609 8480 3505 4820 9011 7002 3401 801 6116 6811 8461 8537 5607 813 9701 8903 1302 1901 2937 6908 8508 8711 2009 3403 4011 6405 6203 7306 8007 2505 1511 9403 1605 2526 2621 7012 7320 8206 8310 2903 2208 7317 8483 9401 8485 8526 8101 306 2201 2205 2828 2925 4205 4409 5516 6401 6505 7020 8215 9020 808 2106 4421 7314 9017 8418 8462 8307 4107 8214 9019 5515 3926 9603 3909 8423 3808 8506 8204 602 712 2206 2516 2917 4910 8905 9007 9004 9102 8529 7606 8501 4013 3302 7228 3004 8544 8803 3402 5911 8538 7104 302 1518 2506 3214 3802 4503 5608 5701 6115 7007 7411 7419 8213 8209 8437 8472 9303 6208 8503 7117 8302 6805 3923 8516 8460 8482 7214 7013 6403 8415 94049405 9402 88707 97318 712 6103 018 8410 6815 2530 2806 105 809 2008 2814 2821 3706 3817 3822 4010 4017 4813 5503 6106 7324 8202 8301 8432 8452 8459 8463 8548 9105 9033 9602 4802 8532 3703 8539 7208 7616 8525 8450 2815 8479 8511 7210 84658466 8477 4810 2002 703 907 803 7323 4823 6911 6210 8416 403 714 806 1507 1404 2801 2823 2905 2918 3105 3215 3919 4414 4817 4816 4902 4908 5212 5704 7009 7018 7113 7322 7415 7614 8504 8513 8512 8535 8545 90219022 9206 9608 2915 8471 3920 8451 9503 1005 8507 3102 805 4602 8409 406 7413 8708 8536 1006 6109 7321 4014 7907 8528 6204 9504 8517 6804 9009 3814 6205 5209 547602 8303 208 6402 6209 4415 9032 9505 3924 7108 2517 1512 101 202 201 206 205 210 209 401 307 404 506 505 504 503 502 501 410 409 408 407 508 510 701 604 707 706 705 704 709 803 807 812 811 810 814 903 909 908 907 906 905 1004 1003 1002 1001 1008 1102 1201 1109 1108 1107 1106 1105 1204 1203 1210 1214 1213 1510 1509 1508 1506 1505 1504 1503 1502 1501 1403 1402 1401 1515 1514 1517 1520 1601 1522 1603 1806 1805 1804 1803 1802 1703 1702 2001 1905 1904 1903 2007 2006 2005 2004 2003 2101 21042105 2207 2301 2209 2303 2305 2308 2307 2503 2502 2507 2510 2509 2515 2514 2518 2522 2521 2524 2529 2528 2527 2601 2604 2606 2608 2610 2614 2613 2612 2616 2619 2618 2708 2707 2706 2705 2704 2703 2702 2701 2712 2715 2802 2805 2810 2809 2808 2813 2812 2819 2818 2826 2825 2824 2834 2833 2832 2831 2829 2838 2837 2842 2841 2840 2848 2847 2846 2845 2850 2902 2914 2913 2912 2911 2910 2909 2908 2907 2906 2920 2919 2916 2938 2936 2935 2934 2933 2932 2931 2930 2929 2928 2927 2926 2924 2923 2941 2940 3002 3001 3005 3101 3103 3207 3206 3204 3203 3202 3201 3301 3213 3212 3211 3307 3406 3405 3404 3504 3503 3502 3501 3601 3605 3604 3702 3806 3805 3804 3803 3801 3707 3705 3704 3810 3812 3818 3816 3821 3820 3903 3902 3905 3908 3907 3911 3910 3915 3914 3918 4008 4007 4006 4005 4004 4003 4015 4201 4111 4110 4109 4108 4106 4105 4104 4304 4303 4302 4301 4206 4204 4402 4405 4411 4417 4416 4419 4601 4504 4502 4501 4702 4701 4706 4705 4704 4801 4806 4805 4804 4808 4815 4814 4812 4822 4906 4905 4904 4903 4909 5006 5005 5004 5003 5002 5001 5113 5112 5111 5110 5109 5108 5107 5106 5105 5104 5103 5102 5101 5207 5206 5205 5204 5203 5202 5406 5405 5404 5403 5402 5401 5311 5310 5309 5308 5307 5306 5305 5304 5303 5302 5301 5211 5210 5511 5510 5509 5508 5507 5506 5505 5504 5502 5501 5606 5605 5604 5603 5602 5702 5804 5803 5802 5801 5910 5909 5908 5907 5906 5905 5904 5903 5902 5901 5811 5810 5809 5808 5807 5806 6002 6001 6102 6108 6110 6201 6117 6212 6217 6216 6215 6214 6308 6504 6503 6502 6501 6507 6703 6702 6701 6603 6602 6801 6803 6809 6808 6807 6806 6814 6909 6907 6906 6905 6904 6903 6902 6901 6914 7008 7006 7005 7004 7003 7011 7017 7016 70147015 7107 7106 7115 7114 7112 7111 7110 7109 7201 7118 7203 7207 7206 7205 7209 7211 7213 7219 7218 7217 7221 7227 7226 7225 7224 7229 7319 7325 7406 7405 7412 7410 7601 7507 7506 7505 7504 7503 7502 7501 7418 7417 7416 7414 7605 7604 7603 7613 7806 7805 7804 7803 7802 7902 7904 8006 8005 8004 8003 8002 8104 8103 8102 8106 8113 8111 8110 8109 8108 8212 8211 8210 8208 8306 8305 8304 8309 8308 8406 8405 8404 8403 8402 8411 8420 8419 8436 8435 8434 8442 84408441 8439 8447 8446 8445 8444 8449 8455 8454 8457 8464 8470 8469 8473 8476 8475 8505 8510 8518 8520 8522 8531 8530 8534 8542 8541 8540 8546 8608 8607 8606 8605 8604 8603 8602 8601 8706 8710 8709 8715 8801 8805 8804 8902 8906 9008 9006 9005 9003 9002 9001 8908 9013 9012 9024 9023 9029 9028 9104 9103 9114 9113 9112 9111 9110 9109 9108 9107 9305 9304 9302 9301 9209 9208 9207 9205 9204 9203 9202 9307 9502 9501 9601 9508 9611 9610 9609 9607 9606 9605 9618 9617 9616 9615 9614 9613 9702 9704 3904 4818 6206 8519 8524 9506 5407 5512 5514 5703 8509 2835 3701 8443 8456 8521 8527 103 5007 6913 7101 8514 8533 8714 9612 207 304 2304 4202 5513 630163026303 603 3901 3921 6104 7202 7222 7409 713 4401 8523 7019 6207 7801 804 2202 2817 4002 6107 507 2807 6406 3506 8201 8433 104 6404 2921 7408 711 802 4803 8422 1104 8448 405 6704 208 8547 3210 6101 3303 4821 3809 3815 6202 6601 2309 9025 4203 7303 2901 3916 128421 601 2103 1206 6912 604 204 6802 1902 4807 8543 702 708 7220 2607 1519 2851 6213 6105 6111 710 9507 4404 3807 1205 8453 4410 6812 8430 3813 2306 7608 6114 1007 2849 7407 9106 8713 2102 7905 4103 5805 4811 8401 9201 910 70107103 470312021212 7901 6113 2843 2617 27162820 9014 7105 2816 509 -1 -.5 0 .5 1 .5 0 7402 -.5 7204 1211 2709 5201 9306 Normalized RCA Index 2005 7401 4407 5301 2809 3103 2510 2714 25153105 1207 2826 1703 4501 406 104 1515 2835 2511 2711 5505 2001 3819 106 710 1604 403 1212 204 2523 2520804 2814 5201 1213 2506 7802 2834 2004 2806 1301 701 7204 1902 3404 811 601 2710 76051509 8105 4818 6908 1101 1510 8434 2508 6213 2002 101 1102 7902 4108 805 4803 3209 6211 1006 4504 7214 2505 3602 3803 7215 2206 2529 711 6910 1404 89027217 25261806 7602 7310 2707 7203 2808 3402 2715 1517 2102 9614 7404 3102 2712 7206 27096813 2101 407 5604 3306 4402 2815 1004 4102 2501 8208 2005 703 8425 2009 61122202 9028 6802 2901 7208 709 909 7326 2838 1209 708 6906 1704 12023005 1214 3922 7615 5514 9405 1052704 4105 9015 401 7016 8436 1905 7013 3905 702 4819 1210 1103 4410 1211 7308 2309 3401 2306602 5705 6309 1203 3210 7301 1302 4503 7608 7801 2007 4703 3303 301 9705 8702 3004 4011 7324 2703 8430 7603 790163022507 7316 2104 8701 812 1007 302 2805 705 7210 3207 5408 814 2105 7216 4820 8716 807 8403 2836 713 7320 39016914 3212 8113 3213 6306 1702 3603 3002 7010 6214 2204 810 3405 6207 904 2702 7124101 510133059403 3904 307 9026 1516 4707 508 4109 2517 3304 73062403 3917 3032522 2807 2839 6805 7207 2610 409 8306 803 603 1104 2301 4107 5704 8457 6905 7604 7201 4004 73094809 2106 7209 8907 7223 9406 809 7317 8206 1701 6911 7221 5507 9601 2833 3820 7219 3506 2207 3003 6904 8311 8421 4807 2811 3507 6107 902 4823 4003 1206 7229404 7007 7311 7303 4808 2708 2008 7302 3208 8307 9605 6307 2602 3006 6801 3501 5607 5205 8214 8544 1402 5701 7413 2509 3915 1008 7610 7020 3823 2919 5703 6203 8903 2832 7212 5404 4901 8446 6804 3214 3912 8418 7614 8440 6912 4414 6901 2607 1512 49026902 2801 8474 3926 1105 6210 7213 8450 9007 2617 8445 8512 5204 4103 4415 6305 504 7314 3804 7017 3101 7323 714 5304 2804 4905 3909 7612 8506 2824 6810 4111 7803 8472 2620 6505 5305 2851 6403 4804 8429 6310 5102 3921 9404 4201 4810 9020 7002 4106 7415 2938 2828 8207 1108 3817 700358084421 3307 8441 4417 4802 2302 1521 4411 2512 806 2209 3923 6807 9604 6913 6811 4805 8485 7321 5601 6405 3814 3918 1904 4409 6803 506 8524 3913 9018 5206 2705 2525 2103 7325 8442 8417 9402 6301 3812 2845 2006 8509 5806 3203 8424 4801 4408 8302 8507 4910 201 3406 8547 2606 2840 3916 604 8438 6304 3403 8211 3822 910 3301 2713 4104 7606 5406 808 7616 8210 7601 4911 4418 6204 8003 40084009 7202 3211 4817 5515 6216 8310 2844 7313 3906 1520 9603 8539 3701 6809 7304 4016 8528 3902 5516 6406 7305 8426 4601 6808 5307 3505 7411 707 8414 5608 74198484 9023 8537 9609 9701 5211 2829 8419 7607 2516 3302 7015 8431 4205 8415 402 5605 7218 5306 6114 7312 2303 7417 8428 9024 6208 3920 7418 6209 7307 405 813 7008 8502 2304 7222 6109 9505 1601 2003 7001 7108 8427 9602 8511 8530 8422 905 9021 5109 7409 5509 304 9202 8704 2922 1511 3809 8462 8479 2827 5209 5107 7318 6815 7009 4401 1602 305 1805 8705 6303 4413 6401 8475 210 3201 8420 4203 2305 2935 8416 102 3605 3206 2928 7006 8205 8301 8409 2521 8444 5807 8202 908 4811 4706 1507 7407 7004 802 5405 5702 7012 5508 1005 2905 1901 4204 8536 8215 830328038432 2502 2821 9612 3925 4602 9010 9401 306 8423 8309 1802 3706 2201 8709 7315 8708 9206 3808 8437 6205 5006 6111 8212 5801 8408 2701 6116 8401 8461 1513 8546 8455 8707 8305 1518 1106 8402 2917 6113 2915 8714 8452 9017 15085203 2920 4404 3907 8538 8529 8501 7319 2608 8517 8703 5401 208 6206 8201 6907 6308 8407 6504 9208 4010 3215 7228 2402 7211 4502 1803 8464 8465 8504 8413 7225 3813 8433 2936 9016 9501 8480 8483 4420 8609 511 1804 9610 8525 9027 8466 9607 6903 8447 706 7403 8526 4419 4906 3924 8481 2802 8901 6212 4001 2825 4821 5907 8412 6115 8470 2830 5202 801 3908 3910 4812 6701 8448 5802 9025 8476 3204 3810 6201 7114 3801 8443 8514 6117 3919 8602 5606 4005 7907 5602 6602 7904 8463 4110 3202 8308 8213 2530 4412 4202 8535 3816 206 5212 76092942 7804 3104 5512 9606 9618 4816 2504 1504 3911 9204 9019 8468 8477 8451 8203 2524 7113 2912 2513 8516 9031 7019 5911 9615 6101 3805 9006 4015 8453 704 8543 6103 207 5909 5111 1519 5910 9107 4301 4002 7011 7322 2816 4822 7014 6002 507 8204 2933 4012 5105 9032 9608 1003 5809 9102 4407 9009 8482 8712 4806 7005 5510 7613 901 8460 2918 2847 8523 2203 5208 2849 906 3903 4403 9703 8508 8515 2923 9503 7117 9030 5407 8467 2208 5402 5110 2503 5303 7508 2934 3707 7412 8706 6102 2846 5311 8007 2921 2817 2941 7018 2818 9001 2842 7505 8548 6806 7806 8513 6402 6202 3703 9611 6110 4814 3606 5811 6503 8112 2909 8471 6215 5903 8104 8459 8456 2819 6108 8531 6506 9004 9617 1401 9106 4013 2308 2604 2932 7205 8304 4908 2401 7115 6601 8503 3811 8532 7408 8520 8405 9029 6105 9011 6217 5804 9022 9014 3821 4907 8541 5603 9506 8458 5513 2823 7903 1001 6001 5511 3702 5908 2518 2926 2924 4006 7220 8449 9113 5308 2929 2916 9504 8711 5503 9209 6702 2841 6106 8545 8469 9207 6104 8410 3503 3807 408 2528 2937 3802 4014 5007 5310 5501 7406 8542 8905 9008 9205 8473 8518 5309 8505 2903 9613 7106 4903 8713 5609 5210 8607 3407 9507 5112 9103 103 203 205 209 501 410 503 903 1002 1201 1109 1501 1505 1503 1514 1522 1603 1605 1801 1903 2307 2514 2527 2603 2609 2614 2613 2612 2611 2616 2619 2618 2621 2813 2812 2820 2822 2831 2837 2843 2848 2850 2908 2911 2910 2914 2913 2927 2925 2930 2940 2939 3001 3502 3504 3601 3604 3704 3818 3914 4304 4406 4405 4416 4702 4705 4704 4813 4815 4904 5003 5002 5001 5005 5104 5108 5113 5302 5502 5906 5905 5904 6502 6501 6507 6603 6704 6703 6814 7105 7104 7103 7102 7101 7107 7112 7111 7110 7109 7116 7118 7224 7227 7226 7402 7401 7405 7410 7414 7416 7501 7504 7503 7507 7506 7611 7805 7906 7905 8002 8001 8103 8102 8101 8006 8005 8004 8110 8109 8108 8107 8106 8404 8406 8411 8454 8605 8604 8603 8601 8608 8710 8805 8804 8803 8802 8801 8906 8904 8908 9005 9012 9104 9110 9109 9114 9112 9203 9301 9303 93069307 9305 9508 9704 9706 1107 2907 2906 5902 8519 8522 8534 8533 505 9013 9108 9502 3806 8478 90029003 7502 8540 4007 9111 8439 8715 9201 907 1502 5004 8521 3815 510 4303 8527 6909 4909 5106 2615 5805 5504 2931 9304 6812 5506 8111 4302 2519 2904 9 2601 8435 202 9101 5901 3205 9702 105 302 9033 2810 8510 1205 4701 5803 1208 5403 2902 1403 3705 502 9616 6404 5207 420640171204 8209 5103 5810 2716 1506 2205 2605 8606 509 2706 -1 .5 2605 2609 4403 2602 8105 7611 2836 1701 -1 Normalized RCA Index 2005 1 Central Africa 4406 2403 7903 2939 2611 2603 2822 1 -1 -.5 -.5 0 .5 1 Normalized RCA Index 1995 1 1 .5 0 Normalized RCA Index 2005 -.5 -1 1 .5 0 -.5 Normalized RCA Index 2005 -1 .5 Southern Africa Eastern Africa 205 1404 5203 2618 2530 1109 5304 902 2616 4402 8105 4102 1008 4103 1207 2615 2609 102 901 604 4701 2401 104 1204 708 2529 907 304 1210 7103 1102 1301 4101 2501 1208 204 1104 6033401 511 106 7613 5302 4105 713 3405 508602 5904 1506 7108 210 401 2522 2302 5511 1704 9705 6401 2617 9604 506 26116305 4904 509 70105201 2605 2509 7403 7902 801 1517 7317 7408 3602 1521 1007 1107 3922101 5001 7802 7615 3925 2714 9610 9703 208 4106 6301 6304 9702 2705 2506 2203 91056084804 4816 8046309 2512 2307 8309 6306 8201 1103 5507 1005 7402 7012 21024404 4820 1601 2526 2306 2839 2523 7210 4906 7803 909 24023001 802 6904 5805 17013819 4406 2205 7204 3803 5607 48192101 3003 2715 7805 904 96083923 6810 4420 7103051101 4808 1702 7401 9701 4907 2106 3306 6105 4905 1202 4407 1806 3201 5101 303 8716 9404 4202 306 701 707 4704 7215 8460 28078438 36051003 3404 105 12141209 76063924 3202 1516 7001 9406 705 3913 4405 15203505 7324 2207 307 709 1302 4410 702 64053603 8410 5604 8304 2716 3304 62142104 1108 4910 2712 9020 3004 409 1905 9017 405 2828 3005 7313 2811 2710 42031801 4817 7314 6402 7306 3209 3407 1501 5301 6208 1511 4803 3820 7212 67043305 5202 1401 4413 7229 1512 7309 6813 5908 3502 510 7301 7602 2208 1403 7209 905 2603 8601 4806 3102 4801 8474 3402 407 7310 3406 1703 1206 73238705 2834 1212 9023 7414 96058710 2201 2009 1213 8210 2502 4901 7216 2806 2904 7206 203 2206 805 1211 7007 4707 3208 854428156905 9609302 80044805 5109 3703 4412 507 7112 1510 620976047611 706 2804 7303 62054415 8459 7405 9301 8401 1901 8101 6203 8432 3002 711 3808 9007 3822 3917 7612 8006 4012 2105 3210 3213 1515 4503 2832 7218 2403 8506 2007 7214 5802 6106 6811 7610 8712 4821 807 5204 703 803 9617 4014 8604 7404 2840 4902 7003 9508 2520 9084013 4011 7311 4403 6109 2619 2923 4107 7005 2008 7308 2824 7013 3918 6506 7413 6403 4501 7320 7217 4813 9403 2802 8702 722248022801 8709 2521 6202 6404 5516 9402 5205 4110 7419 2836 2845 1105 7903 4006704 3006 8440 2528 7507 2303 8905 403 8403 8535 2202 8704 8478 1904 21038429 5303 6406 5310 4104 8472 2503 8517 8203 42068427 1604 94053814 3203 3919 7325 2939 7302 5210 201 2827 5514 4409 3307 1507 7111 6103 1508 4204 4408 8462 8125513 2204 6303 6201 903 2823 8437 3921 7305 8537 5206 4421 7603 5015308 9507 8508 7315 8413 6703 5907 2833 408 8110 1006 9018 4418 7208 6504 3905 6804 8701 2507 809 3501 2813 3215 4008 4911 5503 7017 9603 32117227 4823 4706 2936 6115 6911 8453 7304 5910 9618 8103 3920 4401 3301 7415 402 8502 1402 7002 8476 2001 6207 301 2525 4005 8703 8206 4411 2816 6503 4201 6801 5509 3904 2209 4010 7211 8430 1205 4810 7605 25178310 7906 7312 7804 7801 9015 7307 2846 5702 8405 2005 5809 5601 206 8602 3104 2510 9010 5212 2821 8465 2808 8205 7213 6211 8433 3214 8109 8477 8802 9106 8301 8423 9021 6001 6814 5305 5905 2309 3702 8311 8412 6114 714 2911 4811 8714 7105 8424 6310 7321 810 7608 5401 4818 8422 1106 3907 4001 1502 8455 3701 4602 3212 8426 1201 8447 8711 7004 3204 2829 5209 8303 8146302 6308 2524 8212 6117 6601 5111 8707 8425 8416 6812 7228 4705 4417 6505 3809 1004 5808 4601 4009 7616 8207 9303 2830 6808 1001 7016 1805 4015 7326 2513 8436 8441 6104 6101 8803 4301 6206 5705 2805 406 7409 8407 2929 601 4414 1513 2925 4908 9505 6217 2713 5306 9506 7907 3303 8903 4909 7614 6805 3811 3705 7318 8464 2504 1203 8428 3302 4809 2822 7201 8202 5515 5701 2301 8408 8431 6815 3915 6108 7904 410 6910 906 8548 8419 6113 7316 3926 9601 3707 8531 2835 8104 3206 7019 5512 3105 7220 207 6102 8204 4016 6909 8418 1509 8513 2906 502 9016 4205 3823 2918 8306 9401 8504 8421 56023606 2606 5208 6802 8468 8446 9611 5804 8483 8302 2620 5105 7202 8404 8215 2848 8907 6603 5211 5508 2704 9613 6502 6809 2707 811 9208 9031 1522 2304 8420 7219 8607 6307 8501 1902 6806 8481 202 8538 1519 2838 8713 8511 8902 8402 2851 2602 9026 5501 2701 5408 5901 712 2921 6107 8530 5806 7319 7607 9201 7114 8213 8466 8515 9025 8547 8208 5911 2812 8516 8445 3812 2927 7223 2847 3901 2002 2849 9616 8545 6110 8414 8435 3507 7006 8448 3911 2909 3103 8443 2711 3909 2621 8007 6913 3816 3806 8480 8507 3506 5505 1602 9202 2914 3604 8479 6901 8001 8475 8609 2931 5311 5504 8467 9602 5207 70091518 5506 9011 8528 7101 5801 4109 9014 6912 3403 2820 8524 6111 2842 4504 2508 7117 9028 6204 8305 8708 8442 3912 9002 6116 8415 6210 2915 2910 7018 5807 2519 9606 8527 8308 8525 8536 3902 3802 3805 9105 6002 2941 7601 4302 9027 3815 6908 8546 2308 5609 2928 7226 8452 6907 7102 8461 9103 4419 9614 8102 813 806 7411 7104 9302 4304 9029 9006 8509 6807 5903 8214 4017 9024 9501 9612 6902 8211 2826 7407 7418 2916 9304 5404 2516 9001 6702 9009 8485 9206 7115 2841 8526 2511 3804 3813 2907 8463 4814 8539 5704 5606 2850 2933 9207 3910 8470 3207 8451 9008 8482 3807 8112 8608 8450 9503 5703 4003 7609 3916 2607 2919 9101 8519 3810 2825 504 5502 7225 7116 9032 8484 6112 9022 7406 7221 7417 9030 9504 9005 6914 2817 7322 2908 808 8503 8512 2903 8439 3906 2942 8417 5309 5407 8406 5810 9004 5402 8505 2905 2814 8521 8514 7224 48123101 2837 4002 7113 9102 8543 8471 2922 6215 8209 2305 8520 7508 5403 7207 2809 505 7014 3801 8409 2924 9615 8411 8805 4416 9204 3903 9607 8307 2917 404 2004 5406 2932 3503 5902 7106 9305 8533 8518 2505 8458 7015 8529 6212 2803 5510 7020 7110 2706 8456 5906 2515 5307 8706 2604 5106 6903 9502 2902 8542 8473 2006 8523 7901 1505 1903 2844 3817 4303 6216 6906 7506 5007 8901 8454 4007 8541 4004 8534 2920 2926 3706 7806 2940 4807 209 503 1002 1503 1603 1605 1802 1804 2514 2518 2527 2608 2610 2614 2613 2612 2703 2810 2913 2937 3504 3818 3821 4502 5006 5005 5004 5003 5002 5103 5102 5108 5107 5110 5113 5405 6501 6507 6602 6803 7107 7118 7205 7410 7412 7416 7502 7505 7504 8003 8002 8005 8108 8107 8106 8111 8449 8510 8603 8605 8715 8804 8904 8908 9012 9019 9104 9108 9107 9114 9113 9112 9111 9110 9203 9307 9704 2601 8906 9013 2818 4702 9209 7203 8540 2901 8522 8532 9109 2003 5112 2709 2935 2930 7501 5603 4703 2831 2938 7905 3205 7008 4903 2912 2843 5909 3601 3914 8469 2819 6701 9003 1514 9033 8434 8457 5811 9706 103 6213 2934 3908 4822 5605 7503 8444 4111 7011 3704 4815 9205 1504 2702 5803 4108 8113 1803 8606 5104 8801 27087109 9306 -1 0 Normalized RCA Index 1995 Normalized RCA Index 1995 2604 3804 4815 5302 2307 4702 3601 1103 7401 7904 1210 7110 4406 2614 2618 88023302 2615 2524 4102 9705 4404 75062844 2602 2714 3603 805 3602 2619 1503 6904 8903 7313 1102 3201 2206 7202 8804 4907 1105 7502 204 2819 7805 2502 8478 509 2708 2082610 2204 2849 2504 27157508 2203 907 2403 8004 9604 2401 8801 2605 6401 2621 2501 1023814 2914 3803 2823 101 8604 8401 4101 2807 5203 2809 2812 2205 5101 5102 4804 2820 8403 2506 2802 1603 7804 7402 2607 9020 2207 7612 7215 4808 7601 4904 806 7905 7112 2806 5910 80076105 48163101 1005 4103 8705 7404 7602 3801 4402 7902 3822 3202 1065103 8474 4911 2841 1702 7308 4706 6106 4401 2701 8437 8006 3406 808 2509 8602 9014 9028 7204 8435 9703 2825 7208 2832 7219 6812 2202 2008 72168111 7606 303 5505 3105 809 210 5201 4415 7103 201 8438 2712 8436 4908 1505 3816 5808 8701 2508 2813 4405 701 1209 8607 1206 1208 7107 9203 905 8421 603 2009 8432 7205 8710 7213 5105 6504 1701 8434 2104 6905 4802 3605 3507 2828 2209 2518 3002 7201 4801 1704 2834 6101 9406 7314 506 2617 1104 8526 2709 3802 1007 3301601 7008 1806 4107 2601 7209 2934 8601 8422 2529 5304 28338704 6808 3808 3104 7302 3813 8413 306 4812 84767206 7608 2208 8608 1602 6404511 2503 2851 8105 3305 8430401 1520 104 4905 7505 2308 34044703 3211 8530 3819 2302 7615 7310 7207 602 3306 7901 4902 8424 4819 7217 6506 408 1107 9702 90163820 83093209 2512 3307 8716 8545 6306 2907 2706 6811 1401 6603 6601 5106 2837 820648177003 2801 9402 3917 307 3103 7108 8483 3401 8002 2301206 7802 202 9023 2309 1512 7903 7210 4407 4416 3704 73095704 6701 7605 2102 70174803 2916 4704 9611 3405 2402 7228 8429 8908 4403 4010 6104 2516 4901 2105 2936 8709 7611 2704 2620 405 6206 8433 8412 7312 2513 8805 7306 3807 7218 4009 504 9026 8427 1108 3701 8416 5705 5911 1207 9603 305 2927 5809 1205 8468 709 4822 21063902 7610 16017010 6909 8907 4037315 2530 6501 6109 4820 4707 6903 3805 505 2829 9610 5511 1004 7413 3102 8535 4411 7101510 8207 1604 4012 8303 8417 6813 4811 8455 3304 9403 9015 5805 4111 2901 8310 620362056806 8702 4910 8606 801 7326 6303 7007 2847 6804 3925 8409 6305 7301 6103 8484 4011 3922 9007 8423 2835 8115202 8446 3006 3005 2103 7102 3402 4821 8442 2905 9022 3003 3823 4418 7304 2839 4504 2517 7320 7324 8202 7325 3821 4805 1008 2007 1109 2707 604 4409 8302 3815 4006 2830 1518 8210 8204 1517 4008 7415 1904 8431 3923 1902 2507 6208 7220 304 6802 2606 7322 3403 8419 2808 8407 407 1101 9601 3916 8537 2817 1202 2929 2306 3212 902 9404 2815 1106 2930 8311 2915 8211 2703 2816 6809 910 7806 5506 6912 4016 7086902 7106 4410 8467 8425 73115602 8304 3906 8703 7318 8201 8208 8512 5402 2811 6110 2519 3501 3606 1504 1519 5702 1214 3213 2923 1905 5001 8443 4823 3028460 508 2523 8428 2848 8418 8481 5204 3812 2710 9607 1515 7607 2005 1403 9032 7307 7316 4201 4701 9202 8445 3215 9106 6503 4413 3210 2824 8205 3904 3001 5701 8511 4601 6207812 2827 7411 8463 5507 2001 9701 9029 8426 4503 2911 2805 8546 3214 8108 3809 4420 7419 6302 3909 4807 3811 402 7407 2522 1502 2101 8547 1302 705 7227 7212 3810 8514 3004 807 5109 8708 5703 2904 6810 3914 8454 8803 69145303 8439 3208 7214 8525 2803 70017222 4810 5802 7616 5803 8410 7414 5609 1901 2705 8459 1509 9205 9027 8420 2840 7603 5607 3924 7405 5905 9208 8408 4705 8502 4813 7211 2201 5502 7317 4421 9405 3206 2921 7801 2520 2713 9401 703 5811 9618 8203 5211 6910 3912 5909 8469 3506 406 4005 8482 9304 2006 2826 706 8524 7907 5908 904 9018 8485 6310 6114 5514 9612 7323 5104 6211 8452 8402 1805 804 6908 713 9031 6117 5108 3907 901 8305 4909 8544 203 6307 4002 7412 3926 6204 2515 7906 8609 3703 8448 8307 1521 9025 1506 7009 8501 7507 7613 8712 7321 8466 9507 9207 5902 4417 9012 2850 2918 4818 3921 6807 55019206 8479 2711 3407 8215 3905 8447 2810 4419 8301 3918 5310 9608 8441 7229 6301 8209 90302004 7417 7803 105 8451 4004 8506 3503 6113 8711 2505 2836 2846 7403 8414 2845 5209 2525 2702 7225 1513 3806 8464 8405 6814 7226 2603 7614 3707 5608 6405 9004 8475 7104 9616 4205 3203 8516 1212 2804 4806 8513 7109 9021 7609 2912 2514 802 3207 6803 6805 8517 1703 9010 6209 96137305 9011 3920 6309 1903 9609 5401 4014 9005 702 4502 8465 6901 4408 9303 8603 6115 1213 5601 3505 6304 3604 7013 2925 6001 5906 6217 8504 9017 4007 8707 2928 9704 3919 7005 8515 404 9306 1203 9019 8472 6403 5112 6507 5907 9104 6308 3705 5212 4602 8440 4414 8528 7319 3901 6505 7418 8306 8212 8508 9505 5512 704 2838 810 6703 9305 4814 7002 8539 1001 4204 3303 2932 9024 2616 6112 9506 2909 2821 5515 8461 5807 5603 7221 814 8536 4110 4809 5205 8713 2521 2924 8411 9103 9606 8415 9508 9109 3204 7604 6201 4013 8538 4906 7203 160513012843 9006 9201 8527 803 2002 3702 7019 8507 8404 8005 9008 6602 9009 8906 8509 5405 9614 2939 7015 2931 207 409 2908 6215 7303 1804 6111 4203 2906 8113 6116 4501 4104 8406 9605 4017 2938 5604 6815 6402 3913 813 4015 6911 8477 9101 4206 8214 5806 5208 6210 2842 6216 711 8450 9003 8531 5503 8462 3915 6406 6212 9617 2903 1402 8706 3502 1501 7006 8480 9504 2003 8518 5516 8444 9502 7223 7020 3205 7113 103 4003 8110 9615 4202 9302 5107 8714 8503 2528 2526 1508 2609 301 6107 1516 2510 2935 9209 1211 7016 9204 3910 6704 8523 811291075207 2922 712 4412 8543 7011 8470 9501 8520 1006 5305 5308 8471 8510 7406 5301 1404 6102 5904 3908 2303 9503 8456 707 8308 5406 5404 8715 5903 2831 8213 6702 9105 28225110 5210 7408 906 7018 6913 8519 5408 7116 5513 9602 5006 8505 501 5111 6214 6906 4108 8473 7004 5901 8457 6907 81017409 2814 4001 5407 5801 8453 4302 2305 8529 6002 2919 8521 3504 3706 9033 5309 2917 2933 7117 2910 4105 8605 2942 3911 8902 3817 9110 4903 6213 9002 6108 2941 5007 2940 5509 8458 2920 7501 8104 9706 2304 7105 2511 6202 5206 507 7111 6801 2926 2937 1201 1204 9001 1802 4301 8102 3903 4303 909 7114 1514 5003 8904 4106 1002 502 7101 410 9102 5403 8542 5804 714 8901 7014 2902 1803 8003 7115 8533 903 7012 5508 1003 6502 3818 1507 8541 2608 8001 8548 7224 8540 8532 8449 209 7118 8905 1511 2913 7503 8522 4109 908 9113 8109 5504 5306 5510 5606 5810 8107 9111 9301 9013 7416 1522 2613 7410 2818 8534 9112 9114 9108 205 503 1801 2527 2612 2611 2716 5005 5002 5004 8106 7504 5311 5307 9307 510 4304 5113 5605 8103 -1 -.5 0 .5 1 Normalized RCA Index 1995 801 1801 5201 1803 2104 1802 4601 102 4408 2809 2101 2523 8902 2709 25012510 3105 901 3401 3304 1008 6305 3303 3601 1002 12078903 104 7086704 4403 4407 7215 1902 2815 4406 6401 2828 5203 1901 7606 1517 2713 303 7802 101 703 3923 405 73172305 2616 3605 1512 7204 8710 803 3205 8111 6811 8904 1805 1101 40324022002 2710 3305 302 9703 2302 2306 7508 1520 106 32096807 3924 2715 5511 1804 5810 7610 4012 402 1704 2530 1404 7417 9204 3917 3306 2606 305 8207 4409 3808 4411 4106 48198201 5608 1203 1209 2202 2603 4808 2812 52071511 3602 7217 6402 7415 3816 3402 4813 4103 4404 8434 2205 602 1006 6309 3819 8478 27034421 87052509 89014820 1806 2203 7214 8411 4907 7323 7313 1103 2106 7602 1905 9406 1109 8702 8604 4910 2615 2601 4817 8431 2208 8716 9616 5901 3002 8506 7310 5506 307 1505 3802 9608 3208 8309 2103 4001 7314 1007 1301 4405 2706 4011 3814 8429 5505 2811 7309 7306 2911 53052524 6405 1104 9023 2204 7010 8906 5208 2105 1519 8046306 2401 712 3406 1506 5601 1211 8401 8426 3210 3102 1604 25154417 5607 4818 2209 2201 33072009 2830 2207 7404 8474 1904 6905 1106 401 84271202 3904 9206 2939 28273104 2920 2518 2505 8803 4102 33024911 3204 2520 7902 3603 7503 813 7307 6304 105 5109 7216 2806 910 3502 35067615 812 8407 7210 209 8802 1005 2711 7213 56042522 4101 2808 1514 8422 8417 4420 8704 1513 3507 8430 7114 802 7308 713 1521 1212 407 9404 5204 4418 2831 5403 604 8303 8437 5903 1502 3811 8311 2511 7222 7316 3005 709 4105 902 504 7019 404 2851 4901 2602 8310 9604 8410 9015 2930 8538 2712 5301 3214 4413 2832 1701 2309 3405 7616 8443 3922 3823 7804 9403 8544 8711 7304 4504 4821 210 8107 4415 8481 2102 8701 7209 1515 2836 710 3404 4013 8446 3103 8502 3921 601 8444 203 7607 6114 501 2844 8703 3909 6601 6307 2001 1107 3903 4015 2807 9305 8307 8438 2804 7105 8416 7321 8205 8607 5408 1516 8413 1509 1702 6203 8479 5209 5510 2802 3919 5406 8907 9610 8535 1208 7408 3206 7311 3202 4905 9014 2516 4810 9031 6109 6908 707 2829 9025 2526 5803 3925 3403 8433 2833 6812 2301 2805 6506 3902 1602 9026 2839 3004 8468 909 7303 3215 6703 2507 8462 8408 8477 9017 2508 8112 7102 8202 9010 5513 5212 7104 904 4009 8801 9401 7413 7305 8425 8412 8445 1903 8421 6912 5516 905 5308 4804 8467 5805 2840 8463 7027012819 8428 9402 2924 3820 7401 8435 6310 7318 7903 9618 3212 2922 9501 5602 3926 3704 1102 6102 9005 3003 7211 9508 1108 8409 6205 7612 8418 8609 7326 7103 4805 5609 8511 3913 4008 8007 2304 304 8414 2008 8002 3301 306 8501 207 5806 8483 6810 2926 906 1105 3914 4401 8528 7301 4014 7206 3916 2308 9102 6207 406 8484 1518 2821 4823 714 8432 6801 7613 8475 9505 8465 2915 5211 3505 3912 8480 8415 7312 3810 8424 5705 7207 6404 2842 7801 8206 6103 9701 3920 603 7907 6209 5508 4402 9617 9506 99405 8301 603 908 8714 2512 2940 5501 704 6302 8442 8441 5603 4803 3809 208 7017 7609 7325 8527 3901 7604 8203 2835 1302 5906 2918 2824 7224 9602 5503 2005 8423 3915 4802 7905 3101 6909 7002 8003 8405 8513 3822 9027 409 9507 7315 6210 4503 7225 2906 4010 4822 2905 6910 6804 7614 7320 9018 2849 8712 5404 7302 2941 6505 8546 9502 3806 9030 2826 8507 2903 5514 3604 3203 7016 8454 8452 8204 8461 4811 6907 4707 8708 4909 8419 206 5802 3906 807 6115 711 3905 2923 2607 4816 8713 8709 408 2801 6815 7003 8406 7409 2921 7419 2513 8517 8466 3701 3812 4902 6806 9504 202 7212 2 904 7208 7007 4017 2004 2912 5302 7407 7418 9016 8504 2803 6809 9606 7411 8456 8448 8515 5205 8485 2936 8436 3821 4908 7008 7226 8476 5101 5402 8308 201 9033 1601 3707 4419 2814 6201 8512 2823 5804 6211 5703 9032 3918 507 2834 2907 4809 5911 3501 1603 6902 8001 9003 9208 9611 8545 9612 6206 8521 8536 8516 6813 7608 8503 7324 6406 4016 5515 5701 1401 8537 8469 5210 3706 8459 7001 6914 7218 7412 9029 808 8447 9001 1507 5309 6507 8464 9022 4203 8450 9503 9109 2007 8514 2503 9008 6204 7005 8305 4202 8804 9028 5907 9007 4005 9601 2847 5401 6403 7009 5303 6101 2816 2506 2519 2822 2935 3001 3213 3807 4108 7201 7805 9021 9103 8518 8453 2929 3705 7403 9706 3911 8526 6911 84718472 8525 6805 2914 6208 8451 5407 6104 6802 8208 8519 2931 8524 5512 9009 9020 9004 8302 6111 8539 2813 8304 36105 6901 703 2901 3006 6107 2843 3801 3818 4806 6001 6202 7112 7501 8105 8103 8460 8805 9024 9106 9201 3908 2916 8508 8529 8533 3702 8473 8715 8543 8547 204 4205 8482 6913 7018 5509 809 5702 8402 7806 8509 7011 3907 3201 4104 8531 1201 5704 2707 9202 8458 9205 7 8520 8706 805 5504 117 4 7020 801 1001 6217 9609 7220 6301 2303 2925 511 205 503 502 505 510 806 814 903 1003 1206 1205 1204 1210 1214 1213 1501 1504 1510 2006 2307 2502 2504 2514 2521 2525 2527 2529 2605 2604 2608 2611 2610 2613 2702 2701 2621 2620 2619 2618 2617 2705 2708 2820 2838 2846 2845 2848 2850 2902 2908 2910 2938 3407 3504 3804 3813 4003 4007 4006 4110 4201 4204 4304 4303 4302 4301 4206 4410 4416 4502 4703 4702 4701 4706 4705 4812 4814 4904 4903 5004 5003 5002 5001 5107 5106 5105 5104 5103 5102 5113 5306 5311 5405 5502 5507 5606 5605 5807 5809 5902 5910 5909 6110 6216 6215 6308 6503 6502 6501 6701 6603 6602 6814 6904 6906 7015 7014 70127013 7101 7107 7106 7111 7110 7109 7115 7118 7203 7221 7322 7402 7406 7405 7410 7416 7502 7507 7506 7505 7504 7603 7904 8006 8005 8004 8101 8106 8104 8110 8109 8108 8113 8403 8439 8457 8532 8534 8542 8541 8603 8602 8601 8605 9012 9019 9104 9108 9107 9112 9114 9203 9302 9304 9307 9605 9614 9704 301 410 811 1605 2909 4002 5007 6002 6112 7113 7202 7219 7601 8455 8470 8510 8522 8540 9013 9111 9110 9613 2704 2841 2942 3207 4109 5310 9006 7116 8213 9209 103 2934 3815 8548 6106 9002 5108 6702 9105 907 3503 7229 5811 6212 3817 3910 7006 2003 6117 810 1703 2609 5801 7803 2825 4906 7004 6108 7319 6803 2919 8209 508 2937 2933 2932 4107 706 9011 5112 8306 9101 8210 5111 82118212 7414 8530 2614 8404 7205 8505 7605 8523 2528 2817 9207 9702 8215 9607 3211 9705 7901 8214 4111 2810 7223 8420 6116 4004 2917 4414 9113 6303 5908 6213 8440 8608 8102 5905 5808 2928 3805 2927 506 2913 5110 6903 1403 5206 4501 705 1508 6113 5304 8606 5005 7906 4602 1402 6214 2837 4807 6808 5904 2714 3803 1004 9615 7227 5097228 3606 8449 2716 6504 4815 5307 7611 5006 15032818 2612 -.5 0 .5 4704 9303 8908 9301 9306 8707 2206 -1 Normalized RCA Index 2005 1 Western Africa -1 4412 7108 1522 2517 2403 5202 -.5 8905 0 .5 1 Normalized RCA Index 1995 South-South Trade: The Reality Check 27 2.2. Americas -1 -.5 0 .5 1 Central America 908 2512 1904 5506 3706 3813 5502 7313 3004 8212 3305 2104 1102 1403 7612 7010 8701 6808 3306 4417 2103 5501 7304 3405 1104 2826 5505 2106 7902 4818 102 1601 2518 5908 2105 8107 2202 7402 49044110 2807 8528 8309 5805 6809 2309 3006 604 3401 3802 1901 2009 2208 506 4109 3101 2203 201 3206 1202 1905 7602 7404 3209 7017 4819 804408 3205 7803 2828 3923 2509 2830 3605 2501 2305 9603 401 9508 2824 409 4902 6811 3916 3402 4816 3917 2933 2007 803 7401 705 1704 2102 3407 8407 3808 9609 4404 4012 3307 2529 4064901 7042101 8201 4803 5406 3702 708 5602 1103 7321 1702 3203 305 3816 2703 2702 3303 3701 1302 4911 2001 901 3002 602 2519 3602 206 508 7411 7005 3302 6504 8418 2005 4707 2904 8511 713 9306 702 2616 105 7310 3003 2833 2936 3208 3801 5607 1207 701 4806 2934 2816 7314 2930 306 3214 1522 405 5811 2923 4038203 6805 8450 7802 28362102915 4820 7324 4704 304 404 1001 3404 3925 4808 5212 3915 3304 1701 3924 7607 3604 2937 7614 3806 706 6908 3922 1109 7306 2941 302 2608 6910 4811 2901 3820 4823 8110 8406 4821 4908 407 2806 2917 3507 8544 2209 8434 7217 6305 2714 6115 7220 9616 4410 2847 7417 3603 4205 7204 8525 6914 2848 6401 6905 8438 8303 402 2617 807 8506 8469 7901 3215 7311 2619 3904 5508 8704 15169501 7604 1007 6902 2522 9604 2835 4804 3207 3213 2908 3814 7210 8437 3406 1602 15171902 3506 1101 9015 4415703 3815 2839 3921 40164101 3819 3505 1806 1204 9608 9406 9404 6813 5203 7214 511 2613 49101209 2511 2817 307 8307 7907 8410 4905 5404 8409 3212 1105 7609 9026 4008 3503 37032513 2840 2827 603 4815 1511 3906 3811 202 7212 5911 8703 3805 9403 7001 1803 4006 2523 5401 3823 3105 4407 3920 8311 8436 3907 1513 5603 2811 6106 4002 9018 2918 2607 8545 8540 8475 9612 7317 8530 2207 3301 203 8716 7209 7007 2803 7216 4817 7308 2716 1108 2801 8204 30055201 8411 44137013 3905 1520 8476 6810 5202 4001 2850 8305 8421 3809 2206 3909 4909 23027413 904 2008 8209 8509 16048524 2903 2832 8442 8481 1605 8907 72084822 2935 7611 6113 8446 2906 5302 8435 7207 6806 8422 2508 8417 6306 2520 7616 3601 2804 209 6405 2006 4805 6807 9017 1512 7096302 9610 4108 2932 7806 6406 3204 9401 8483 2842 2530 4408 8538 303 6503 5503 7312 1106 3919 2709 3912 9032 8301 6105 2815 9505 7019 805 7009 8507 7615 3926 8412 5204 504 2603 3822 8413 1502 7608 6107 3504 5601 7320 1521 8514 8419 3812 8424 812 8432 8423 2715 6912 292687052504 6210 2924 7115 7309 7805 4009 9405 7508 3606 2401 3403 8502 2921 8310 8002 601 7016 8208 40058471 1805 44182834 9106 4011 2825 7227 2914 29098708 9107 8527 6801 1004 2851 93028607 9607 8537 5910 4420 3104 5111 4812 8444 2708 2402 6403 8408 8473 3821 7326 6310 4409 2301 3501 4104 5609 4204 3211 8433 8202 5513 6206 2621 6903 4015 2601 3502 8210 5206 7403 9007 8801 9615 3705 2820 7215 4403 3914 7106 8427 8903 5909 6812 1005 8425 4809 8213 3103 2920 8480 7229 6212 5604 4414 2602 4903 7801 7407 4802 4014 6207 5210 55128452 8536 7128477 5804 3704 8439 5703 8542 5807 9304 6913 2916 7904 1703 6108 7323 8205 5408 2308 9503 8508 8428 9027 811 8474 4801 2922 2829 8472 6209 6203 5103 8484 8440 6303 5605 5403 6506 44213202 9016 7906 6002 8414 8302 3913 5402 106 7322 8430 1301 5515 85169611 6804 8206 6211 4010 8415 7610 8441 3903 9618 8515 103 73194504 2618 8547 8447 2505 2911 1211 9028 8517 7903 7211 5806 7414 8306 2849 4502 8443 7325 8429 2003 2713 5112 9613 5208 8709 8518 8211 2526 5514 3707 8519 2823 6205 710 2821 7003 510 2201 2525 8904 2517 6101 3911 4004 8535 4107 1515 9019 9702 3001 2912 9010 3102 207 5808 9020 3810 2306 8308 8207 9031 3901 2515 8402 5209 4503 7318 8454 8465 3902 9025 5211 5802 9022 84318501 73077117 2303 8111 714 1505 4206 707 7409 2805 7004 7221 6802 809 6204 6909 1214 8214 5205 8510 410 8416 7412 4810 2925 7225 8464 2919 9014 2939 8504 6502 7316 6208 906 8479 6904 7315 3910 8513 7219 6117 806 2931 7202 3918 8485 6307 76064807 6815 810 9606 7418 8445 9504 8463 2929 5903 6402 6111 8539 84032841 8451 7415 3210 8512 8702 25216215 5407 8448 802 4412 711 9023 2002 7228 2905 6102 7223 9021 9006 65019703 5906 6109 2606 1507 813 9102 9029 6505 8468 9605 8803 1804 8405 4111 4202 7408 8455 8548 2927 2810 5901 7305 7406 2507 910 1603 2710 6803 8706 4501 4203 9004 9011 1206 2808 9402 5207 101 8420 9602 2814 7905 2831 8460 61039206 5705 63011506 4201 7601 7113 8101 6507 2707 8603 4105 6112 8007 5516 9701 7018 8482 6114 9030 8462 5405 8543 6213 2712 9205 9705 9506 6104 1518 4813 1107 8529 7613 8521 1008 6216 808 8523 5310 8453 7301 6304 5509 7303 8461 8467 9001 4013 3807 4411 909 8712 1801 5902 2004 6217 7804 3908 8526 8113 5809 6404 2711 9202 2706 8711 9024 2506 6907 7419 8505 9105 5810 7218 4416 5801 5904 3804 7002 3201 8707 4007 5510 1509 1404 7226 6309 4907 2902 9003 8546 1519 9033 9502 8215 6116 9209 2907 2304 9617 7410 8426 4401 801 8503 2204 6602 8534 9009 2928 7222 2812 6601 5907 9204 8466 3817 8802208 1208 8404 8533 8608 7302 6308 7104 2940 2809 8470 6901 9601 7505 9103 4017 4304 6201 9201 5006 6702 9104 4814 4419 301 4405 8532 1006 2704 5608 2838 7020 5701 6110 8106 4406 2822 8459 1401 1212 2844 8531 9614 6202 4602 8456 902 4601 7603 905 5305 8458 2819 9005 2942 6814 8715 8304 2612 7103 4103 2503 7114 9008 8609 9203 9109 5311 5105 8449 7507 5702 104 2528 2837 7213 7111 2615 5905 2620 6214 8714 5109 6911 2516 8541 5511 8601 7008 9303 8520 7108 2845 2818 4003 7201 4402 4102 8478 8713 2514 2510 7015 2913 7112 7116 1510 6001 9207 4906 2604 9113 5309 5704 2403 1504 7205 9012 7006 8003 9101 2843 7105 6704 8109 1201 1203 7109 4703 7501 9307 9002 5308 8457 5606 9301 9111 907 4302 9208 4706 5803 6603 9507 5303 7206 2802 7224 8606 2701 8522 7011 4303 4106 7203 7506 2846 4702 9110 9108 2610 7110 8112 1205 8006 86025113 6701 7416 8105 3818 4301 5007 1003 6703 8108 6906 8005 2938 5004 5106 5101 9114 5307 8001 7012 8901 9112 7605 5301 2910 7107 28135104 205 502 501 903 1002 1210 1213 1402 1503 1903 2307 2502 2609 2611 4701 4705 5005 5003 5002 5001 5108 5107 5110 5306 7014 7102 7405 7504 7503 8102 8605 8604 8805 8804 8906 8908 9704 9706 505 1508 7101 2524 8004 507 9013 2614 7502 2605 8104 5102 1514 204 5504 503 2527 1802 8103 9305 8710 8902 1501 8401 8905 5304 509 38032205 2705 7118 5507 .5 0 -.5 Normalized RCA Index 2005 814 -1 .5 0 -.5 -1 Normalized RCA Index 2005 1 Caribbean 7501 9702 4911 28142818 7203 8113 4820 2715 4109 2714 1904 2202 2105 1601 9003 8906 8524 2203 2206 3004 7213 8908 2009 3210 3002 9007 4904 2904 2208 2710 6101 10013101 2402 2807 4905 7310 76102209 2501 9704 3925 3819 2708 3102 3006 1066307 1905 2523 48176810 4818 4819 7010 2522 2517 1517 1101 4910 7204 7314 4821 7212 2005 2520 9018 7602 2511 9004 4418 2103 3822 8438 4909 1503 2711 3306 72021701 4402 3402 9022 8464 2703 2806 2707 7404 7207 3605 714 2201 3602 3917 9302 803 3401 2309 2008 8903 9402 1109 97034901 9206 7317 8713 8426 9406 401 3201 3808 8406 3303 1103 7214 4707 908 812 2503 4803 6501 1902 3820 5310 2606 713 3816 9508 3923 9404 6807 1602 3209 2505 1806 2521 2205 30016401 4823 9033 3922 9011 2302 3911 709 30036207 1209 8804 813 2403 101 4816 3406406 7905 5512 6306 9301 9001 2905 105 5811 3405 2106 1805 8905 9701 2102 8901 8902 807 8907 1803 3307 2811 602 7313 3208 2204 6804 8478 1901 704 3214 9103 1704 9005 2508 7001 2833 7024808 1804 8523 8802 2932 2828 4409 306 3501 3301 304 61056910 9401 6109 8476 5609 7076203 8422 2615 6504 910 1204 6303 33042104 6106 701 4413 2207 303 9603 1507 4420 73167308 3814 5607 3027802 89041801 4902 9017 2007 7103 5809 2802 805 9021 6205 814 9026 3914 1510 9403 6206 705 8429 3924 2851804 3105 87058206 7227 6114 3921 73116801 6305 8434 4014 7413 38238431 7321 2509 8507 409 9020 4416 2713 4421 6405 9015 3506 4101 3005 8310 2004 8435 1520 8208 1513 3926 2512 23043103 6404 9019 6912 1903 6701 8527 2910 9104 7217 3503 711 2801 8707 8546 8427 402 7611 8415 8309 7322 8536 3302 8430 3305 1005 7228 4601 2620 6403 61037215 7326 9405 8544 7210 4103 4811 8419 3215 8525 8521 8504 6208 7320 9507 2006 6904 2809 9027 8201 7216 9207 6505 2530 6309 8533 7306 7007 6506 8418 3212 3211 901 6204 2837 6310 1301 6808 8412 1212 4015 6905 7118 8545 9010 8305 2835 7616 8413 5601 7604 9505 1302 9601 4806 1006 8004 6104 6302 3507 3920 7017 3701 1102 6503 2401 6907 8421 9705 3805 1515 8479 96111106 6113 6806 904 4415 902 3809 2709 6814 8505 8436 3807 40116107 8437 3603 2712 5513 7613 7418 5808 4417 8306 2836 8311 7301 8467 703 8425 4907 6112 1004 9030 4404 6211 2607 9606 2812 3207 6212 8203 5911 5505 4408 5602 3915 8528 102 8304 8502 6202 6210 7229 7318 8537 2621 810 3104 8214 5401 7312 3907 6901 8205 3811 706 8417 3821 7615 2804 1107 8508 8443 8442 7307 9101 4412 3910 1105 2515 6110 6908 305 207 3075803 9031 403603 4903 8207 9609 6805 5204 4009 3919 511 9208 8424 6601 8477 3918 6115 906 801 6209 8202 710 5301 6913 7906 8716 5910 9024 6809 3909 905 2815 8474 6216 3604 9608 1509 9618 8703 5905 8403 8510 2001 8303 7309 5807 301 8702 8423 7116 2923 9201 9204 5705 9607 6108 1518 3904 1211 7902 7113 7323 5508 7408 8543 8704 2839 2526 8520 7013 8483 2507 8515 604 6217 9506 8441 7805 8301 8709 1702 1104 6116 8452 3905 2525 8402 7319 3404 5202 3213 8410 8535 4202 4012 8481 5510 8213 3707 210 3206 8414 8432 6906 8465 7801 8711 8407 4801 7325 7002 8509 7009 7315 811 9303 806 6213 84683912 4407 8517 8518 5703 9205 6602 17033815 8712 4016 4414 8433 2930 7114 8461 9612 8484 5907 4802 6914 8439 8531 8501 7412 9023 3903 3916 5704 4804 8538 2516 2845 4201 9008 5906 9203 6304 8204 7612 2842 4203 7806 8459 5515 5804 6507 7407 6117 7006 4908 3407 7324 6802 5516 809 8215 8511 9025 7305 8455 1206 8472 1605 2101 7222 4810 6111 8471 7405 8006 8532 4805 6215 7606 3706 8307 8211 2808 9105 7304 8462 6902 2940 5604 4504 4419 7907 1604 7011 8473 6815 8701 9502 5208 2942 4822 7208 8212 405 712 808 5608 907 7609 8470 7020 8404 7111 8513 8450 2843 7104 9501 7005 1201 8409 8708 8460 4809 508 9028 909 6702 8516 8210 2903 3606 5702 2805 9306 5603 8302 2844 6402 404 8609 4104 2002 4013 7206 4503 7403 9014 5806 9602 4813 7419 3403 1519 4807 8453 7117 9102 3902 8408 8706 5810 6909 8526 8512 4102 9615 6214 8539 5006 7225 7302 8503 6911 8458 8506 6102 7402 202 1504 8480 9029 4010 7004 4017 2922 7226 9202 7019 1108 3802 203 4002 8715 4006 7218 2926 6812 9106 7607 5210 2915 2918 2847 6813 8530 2931 5311 6301 4602 9610 9032 8446 5304 9604 3906 7415 9107 1401 8451 3204 9617 2902 601 2929 3908 4411 8428 9503 7016 407 9706 2816 2912 3601 8541 2827 2909 8485 1214 1521 5903 7303 7903 8548 6201 8448 9006 5801 2301 5514 3202 8803 509 1210 2601 1512 5701 6002 7003 2933 2513 2519 5901 7505 8445 8522 1202 3505 7411 104 9009 7223 8416 9016 3704 4110 2941 2829 7008 8405 9209 8466 8529 2906 5802 8482 2901 4206 5109 7416 802 7410 7014 2914 1207 6903 1516 2826 7211 6308 2003 2850 4001 5904 5909 7601 7605 8002 9012 8547 9002 5212 9613 8308 2916 6811 5908 6704 2937 503 1403 3812 4814 7220 8104 9614 4403 5407 6703 8519 4205 2810 9304 1508 201 903 9504 8411 1208 4008 5506 505 2504 2706 2841 4111 4502 4906 5205 5303 5408 6502 8440 8542 3203 2936 2907 5209 1501 7608 502 2610 2817 2913 2919 3705 5112 7012 7224 9605 8463 8534 6406 2849 3901 2825 8514 3703 9616 3913 7107 208 408 1008 1514 1603 2821 2834 2846 2938 3813 4007 4108 4304 5111 5207 5302 6001 7205 7414 8102 8607 9113 5509 8447 7219 3810 4106 7409 3702 7018 5902 2934 3504 7803 1502708 205 209 507 506 504 501 410 510 1003 1002 1205 1402 1506 1505 1511 1522 1802 2305 2308 2307 2502 2506 2510 2514 2518 2529 2528 2527 2605 2604 2603 2602 2612 2611 2609 2608 2614 2619 2618 2617 2616 2701 2705 2704 2716 2824 2823 2822 2820 2819 2831 2830 2838 2840 2908 2911 2921 2928 2927 2925 3801 3803 3806 3817 4005 4004 4105 4107 4204 4301 4303 4406 4501 4704 4703 4702 4701 4706 4812 4815 5201 5113 5110 5108 5107 5106 5105 5104 5103 5102 5101 5007 5005 5004 5003 5002 5001 5203 5308 5307 5306 5305 5406 5405 5404 5403 5502 5501 5504 5507 5511 5606 5605 5805 6603 6803 7102 7101 7106 7105 7112 7110 7109 7108 7115 7201 7221 7401 7406 7417 7503 7507 7506 7603 7614 7804 7901 7904 8001 8005 8112 8111 8110 8109 8108 8107 8106 8105 8103 8101 8007 8401 8420 8444 8449 8475 8608 8606 8605 8604 8603 8602 8601 8710 8801 8805 9013 9114 9112 9111 9110 9109 9108 103 3818 4401 8540 204 1404 2613 5309 5503 8714 206 2917 4302 7209 5211 1007 2524 5206 2920 2303 2803 8209 8469 7508 7502 4410 5402 7015 8457 4405 1213 2924 3205 8456 9307 3502 1203 2832 4003 8454 9305 7504 2939 8003 2702 3804 2306 2813 4705 2935 2848 -1 1 -.5 Normalized RCA Index 1995 0 1 1 7203 2607 2301 1504 2608 2613 2509 2528 2616 2609 2308 102 803 603 2617 6501 8801 8210 6401 3503 4404 7605 7614 711 3205 2704 6905 2205 4905 17043203 4803 3603 9602 4904 2810 2803 5511 1208 4902 7202 7313 2716 6912 1604 7801 1204 2603 814 2806 4103 2606 8201 4901 5506 4820 7003 5502 6910 6107 2928 2104 6114 6811 7611 68133808 9703 7901 1805 2101 7602 5805 3817 901 4409 9702 1702 4911 4818 7321 2007 7601 7402 7007 2522 5606 44102815 6503 3904 6807 6212 7404 7403 2904 511 7010 7209 8903 510 6106 1806 3306 1002 2304 701 5501 1803 904 2503 8106 2835 2309 6108 1905 1701 3004 4108 5811 7408 3005 7213 7228 9402 2817 2918 3923 7310 7001 3304 2701 7106 7004 8212 402 2526 2847 3305 2811 3820 3044504 4406 2824 7615 3303 9015 6112 2008 2711 6812 3211 407 2840 2005 6908 8309 5105 8802 30062807 2818 6502 2511 8110 201 2106 4407 307 7325 2611 1605806 2501 3405 3402 2849 7803 3920 2715 3401 8703 704 7317 76042814 36022302 7608 3102 1207 1507 8704 6305 56084909 1517 8418 2202 27096115 4802 7507 6805 3916305 7117 4011 38196105 3921 4411 2713 105 3917 21033902 4706 3922 4808 9604 1512 9508 6206 28011904 2306 6109 3924 1102 1103 4811 7103 1108 7320 713 7306 5906 3407 3912 408 1804 3002 7210 4805 8107 4804 7207 2813 3925 5212 2601 8546 5705 48192833 3802 7214 4822 1902 8203 2839 53052203 7314 8484 5103 401 6209 9608 8475 2507 1801 7013 1404 2401 6111 3213 3302 3905 59094102 2530 3001 8430 2933 406 2901 2816 7308 7005 6302 8905 8001 9403 8436 8509 7208 2102 7311 2207 4408 4910 3209 5803 7217 4012 602 7414 2710 6102 2842 5211 1107 4412 31051703 3601 4417 96037607 1206 6203 709 44188705 6907 5108 7406 1516 4107 2209 2804 4201 405 604 807 4813 5503 303 2908 6204 8438 4205 5602 4111 5607 3208 7413 3506 5401 8716 6205 2505 9020 1522 5603 4823 6404 7610 1302 5902 2821 3816 1513 83117612 3101 6104 7302 3202 8305 5802 2523 4501 8423 2909 9406 8524 4005 302 1901 3015101 1212 7802 3206 4817 5804 64034903 4415 9610 3307 6301 2520 4206 2703 3215 2002 6902 2206 7008 5112 6504 5704 3906 9615 5604 8437 7401 2512 3604 8602 8474 7606 404 306 9023 4013 9028 8434 8422 4008 8202 8480 7326 8301 6303 2619 8711 6506 804 8007 4707 2620 8446 1007 4403 8537 6307 7009 8702 3919 3812 2825 1511 9404 5209 38047902 3501 3903 3605 7508 7501 9018 2513 2924 4037114 1068544 7212 5204 1211 1104 6002 1802 9609 4109 4101 7903 7324 4006 2819 9606 3823 29308421 9401 6804 7312 5205 6806 2208 5515 2514 1006 5505 9618 2009 5806 8424 4104 8207 2529 1202 2402 2712 5703 8413 8417 2518 2939 1106 9616 8601 3909 1401 3606 7309 4016 1209 8506 3403 1203 4420 7323 3404 9701 2506 2936 5513 7225 8213 9021 7416 811 6207 1201 7409 9505 6406 7303 4421 7315 3214 4010 2105 6802 705 2841 7215 8707 5402 101 1515 5109 7019 3918 1506 4014 4402 5404 2827 4105 4816 6101 3705 8507 8478 8481 7227 3809 2922 8303 6505 5509 4810 3926 3901 7616 9612 7204 6215 7301 8708 805 1101 2508 8431 8005 9405 3907 3806 2828 3301 5808 2917 80034908 9611 9607 8307 6304 6110 702 1509 42036208 3502 9203 6213 9017 908 7418 4202 4106 708 7216 7318 6402 9306 5807 5601 8539 8504 2621 8211 6913 4015 7407 5702 2843 5508 6211 9016 4821 8432 7412 8412 9617 24032708 2714 4806 4009 6306 6202 8428 8425 7205 3908 6911 4413 8526 2003 8476 8512 8420 8535 801 2001 7112 9103 4807 3505 4004681010051008 8706 1602 6103 6809 9026 8485 2923 6904 8502 6815 703 1520 3207 5207 204 9506 9302 3212 5911 6001 8902 8205 810 8426 6903 2525 8302 6217 8215 9503 8208 5201 601 9601 7411 8214 8443 4701 505 8308 8477 8479 3204 5206 8538 3003 8441 8701 3915 9205 4017 8409 9019 8402 9202 2519 8467 202 3821 210 5903 910 3815 3406 5810 8461 909 5210 2905 7307 3210 8901 8514 5203 9027 6914 8410 8463 6117 8429 1004 5514 3811 7415 1518 4907 9501 5407 8464 9504 8516 8442 7804 707 3801 64052903 4416 4419 6201 8419 6703 7006 8483 103 5208 2912 3805 9024 3810 8310 8445 8416 2004 710 2837 8439 7316 9106 9206 8536 5405 2832 8904 3704 8501 8401 2836 9614 2006 8112 2516 7904 7907 1603 6214 3507 9014 2707 4414 2915 2834 3706 4110 2808 5102 8306 5111 8713 2929 8204 3910 9032 8450 712 8415 8530 714 2902 3701 7419 5202 5907 8465 8531 9025 7410 502 2524 7806 7304 7017 5308 9502 8906 8414 8406 8548 8545 5801 3814 6906 504 9011 8527 8304 6116 2201 7609 8511 5609 2831 4003 1214 8803 3911 8206 8523 802 207 9208 9029 4809 8513 508 8609 7218 2615 4814 9031 3822 1213 7319 8715 1505 1601 8714 8462 1109 8101 8103 7116 8607 9004 9605 706 8508 8433 6113 209 5406 9022 3707 7108 76036909 8407 3703 8472 8515 5408 6801 2517 2919 9001 2830 2510 4602 4601 2844 6602 5910 6210 8440 5107 2805 8104 2931 8468 2941 5605 7102 8427 9107 8453 5512 7906 8608 9030 8517 8466 809 4204 9704 3103 1301 2934 8408 6216 9033 7322 8444 2932 8525 6507 2916 5006 2925 1903 509 3914 5306 902 8435 9105 1519 3913 7222 7405 8411 8503 2914 7020 2812 8460 1521 9303 8447 8458 3504 4815 8907 7015 7229 8547 5304 2515 71114906 7104 2938 8709 4002 3104 4703 5908 6603 9102 6601 6310 203 2851 9112 4401 2911 9207 5516 2907 7018 2935 7206 4001 8451 7115 2204 7113 7016 5110 3803 9705 5311 8518 8482 4302 2823 2610 6308 2602 6808 9007 8532 8456 9010 7305 7613 206 7417 6814 4303 8543 8452 2826 8505 2 7211 7223 2906 4007 5307 1003 1402 4812 8109 7201 8209 812 9003 7921 012 2809 1501 2820 2848 2920 8457 8111 7011 2829 8403 2913 8804 9101 8521 906 903 8448 8459 7220 6901 104 9109 5007 808 2926 7226 4503 1503 9706 813 9209 8455 8471 8469 8528 3702 8712 2504 7219 9305 8102 8470 5309 5106 8520 8519 8404 5701 5510 7002 8449 7107 5403 507 2303 2910 9104 9114 8473 9613 907 8529 6704 5809 6702 6309 9006 5310 7505 2927 4304 9009 7502 7506 2604 2846 2940 3818 7805 8108 8533 8541 9507 410 9005 8510 9304 5004 409 8454 3201 1105 8405 205 501 503 905 1205 1210 1502 1508 1510 1514 2305 2307 2527 2605 2612 2614 2618 2702 2705 2802 2838 2845 2850 3807 4405 4502 4702 4705 4704 5005 5104 5302 5504 5507 5905 7014 7101 7105 7110 7221 7224 7504 7503 8002 8004 8006 8105 8113 8542 8605 8604 8603 8805 8908 9013 9012 9108 9111 9110 9301 9307 4301 8540 9002 6701 8534 9113 8522 1403 1001 2706 9204 9008 7118 2521 2942 208 9 5901 2937 2822 8710 201 5303 5904 4801 5002 5301 8606 3813 5003 6803 5001 5113506 7109 -1 -.5 0 .5 1 Normalized RCA Index 1995 Issues in New Geography of International Trade .5 0 -.5 Normalized RCA Index 2005 1201 1507 903 4206 1107 209 7224 1205 207 1004 1001 2801 3803 1502 2810 201 8707 1512 8706 2304 1206 8433 2204 2813 2004 25241701 2528 4416 2207 1521 5304 1601 4703 1007 202 7402 809 7403 504 2603 206 3503 8701 2601 9302 1005 2205 3201 1518 2834 203 9303 210 1104 24015103 9306 8432 6803 1505 8410 1804 5802 8802 2931 404 406 402 806 7201 8704 8702 4804 2007 2613 808 5101 6813 3504 4504 5105 1214 4108 2602 813 1209 4407 3006 2301 1504 811 1602 86061509 7304 8434 503510 1501 901 506 2830 2840 1806 87032818 4503 8439 7207 2616 3805 1901 4802 8429 4417 2606 1803 3307 2829 3603 1204 7002 8408 1105 6501 405 304 2005 2009 2101 4012 2102 2516 4801 1517 2522 25079604 7605 7311 511 4104 3801 4415 3002 8436 2820 2308 4813 1805 6401 2106 2309 8309 812 8407 4411 2611 6903 4806 3820 7609 3808 8511 3703 4811 7505 1704 2518 8607 2847 22062002 2512 7321 2841 1302 4702 3306 72272008 4410 3105 3701 5201 2918 3001 4406 5502 96094905 6908 3815 8455 6809 4005 2715 101 7401 3912 7213 9402 8708 9028 8422 7417 303 8716 8409 2904 70033501 4810 2506 1702 3305401 3602 2807 4011 4704 1109 16037302 8413 8202 2803 8211 4805 4008 8474 8546 4205 7225 2815 8483 3301 3816 2827 3004 8512 2703 7229 3819 3211 3706 8417 8424 2849 8418 7007 4010 3202 302 8438 8467 2833 71038508 8437 4409 4911 8143104 8441 3402 4818 204 6805 2819 7214 5404 6905 2922 2519 703 7009 3209 3213 7502 7202 4009 8201 5603 5601 8478 7313 7408 3923 7320 5004 7305 4819 6807 4002 3917 7217 2501 7312 1904 408 3901 6912 8103 2514 6403 8428 1102 2403 3405 7228 7404 8420 9032 4102 8212 3806 2105 5602 4418 7208 3507 9406 1515 2923 2921 4902 2307 2509 3102 2305 7615 2905 3916 8421 3702 7005 9022 1103 3506 1604 5902 4822 6811 5511 2716 2508 5112 3401 7306 6804 3802 2303 3920 6902 102 4904 2804 7501 3101 8530 1905 5102 2844 407 6404 3605 8462 73034803 4408 8207 4016 2714 3207 78068406 8902 3103 3208 7209 5003904 8907 5104 5911 4412 9021 3817 23067614 3505 72068525 3403 7607 3909 4006 5906 8711 3804 9403 6302 8419 2926 8414 8412 1006 8484 4901 8402 7606 3904 1210 7309 3214 7226 7216 6402 9618 710 2302 105 7210 7326 2835 9603 7010 3809 2504 2104 4908 8440 1506 805 8475 8481 6812 4820 6305 3902 6806 9029 8601 2006 9301 8203 3304 3811 4402 3919 3908 2909 2811 713 3913 3921 7601 9401 2910 8472 6801 2103 1902 1605 2203 7608 8204 8476 4111 5001 2711305 5504 2836 5111 8454 8405 4808 2817 7308 208 1212 8450 7013 409 3925 8311 3407 403 2915 2908 8903 7215 2929 307 8502 7318 8545 2209 8416 83075209 7219 9025 2824 7324 2930 6910 8028213 9208 2710 8430 2903 7222 7612 7603 3823 711 1522 8604 6802 1008 5803 1202 9104 2806 90193212 8535 3206 7411 810 5910 2901 7901 7019 907 7602 9018 73103822 4807 9508 803 3302 3821 8470 6112 9404 9026 78019023 1108 505 5211 6102 8457 8302 7212 5704 5401 3215 1301 7205 8435 9107 602 4201 4013 29338411 9617 8465 8215 7008 8208 3922 4003 8544 8501 2939 5505 2925 3601 8482 2610 8608 4421 4814 5909 2814 9020 8425 7112 7211 7116 7413 5705 2832 8301 3906 8509 8537 2608 8905 2526 7315 6909 2842 6814 4404 8423 4906 4816 3203 8547 2821 3907 5811 5509 71156815 2615 2914 8453 7405 509 5204 2517 2712 2713 4110 7616 7803 3303 85033204 2920 7307 4401 2001 5501 8443 801 2924 4101 73178442 6202 3005 8477 84039206 712 9014 3924 8524 9611 5402 2916 2702 2709 1404 3404 2607 7407 3813 8705 6106 8539 1519 8479 8444 8205 8514 9505 1211 8480 7604 6406 5702 3812 7325 8108 8214 4403 3003 6904 3406 2202 4823 8713 701 2907 8445 7017 24026907 6405 3807 6107 9613 2003 3814 7314 8463 1106 8526 5703 9106 7106 2839 2902 2523 6114 8431 4302 8528 7415 2520 5203 6105 2928 3910 1207 8527 7117 8466 2828 6115 1503 2707 7805 9608 5908 6212 1002 8460 7412 3707 6306 9017 7220 104 2934 3926 84158803 5806 4106 3905 2932 3915 6504 8540 7610 8507 2906 306 8485 5607 6111 8107 2208 7418 501 9031 7611 8305 9501 5308 4707 4909 6101 7204 6215 9024 6506 5202 6304 4817 2936 8504 9405 8458 6108 2530 9011 8516 3810 8468 5606 7001 5503 8464 6307 4405 1520 8536 2937 4303 2826 9205 4109 5205 2846 9612 3903 8451 9016 5515 8210 8404 9033 4821 3210 2808 5403 2848 4910 6208 7323 7508 5507 6109 8506 2912 7802 5210 8538 2708 2529 4203 9506 9027 8459 8303 6209 8427 7906 1802 9001 5406 5801 6203 804 9610 902 9606 6201 5408 8515 7223 3911 6507 5604 7504 8310 2935 8461 2917 8804 8308 7409 9602 106 5609 5208 5109 2919 2911 8452 70147419 8209 2809 6205 2851 1516 3604604 8003 8206 9703 4706 2505 4420 4419 5903 8105 6301 1101 74062850 4812 8304 6211 4004 6303 5106 7011 6808 5207 2525 2619 4501 8448 8446 8101 709 9502 8517 3918 6206 2941 5605 4107 8471 7108 7907 5608 6104 3914 7018 6210 4014 507 5807603 8426 3606 4414 4103 1510 705 5309 6001 1401 5514 4809 7016 7012 7804 5907 5007 5508 7006 6002 6204 4903 6207 4413 4105 8543 5808 9607 8001 9615 8714 8112 807 5904 6810 8532 9209 6116 5407 3704 9004 2704 1508 6217 5805 9010 9202 6602 8510 4015 6213 9503 7414 2621 2825 5212 8712 2617 6216 5510 9305 6113 3205 4204 6110 8113 9616 6103 8901 301 7113 6310 6214 8106 1403 1903 4701 8529 9015 2913 5002 9204 4202 2843 7613 5513 7020 9507 410 8306 6505 9030 6911 8709 8104 8531 909 8505 1513 103 9009 7903 7322 9702 6503 6603 5809 9201 5901 9701 8518 8533 2513 9007 9504 6914 5804 9307 706 4017 6906 8456 8715 8109 9704 9601 5516 8007 9102 5107 5701 71074907 4301 8447 2805 2511 9003 7203 5311 7902 2938 8906 2940 5506 8521 4601 6913 6308 9304 5810 1703 8449 7319 2837 8523 6117 9614 2515 2927 7111 8102 8111 2503 5512 6601 7218 52068469 2816 7507 7015890488012845 9101 4304 6502 7114 1801 9008 2802 7301 9605 9105 2521 5905 8513 5405 702 91129113 5306 2618 5302 9207 1213 4602 910 9103 6701 8534 714 708 7110 2822 2510 6702 2201 2831 508 7104 7904 9005 7 7410 905 7105 7416 4007 9013 8541 2823 7004 9114 6704 9012 8542 8609 8520 5108 5310 2609 2706 8473 2812 2838 9006 7506 8005 9705 2701 4001 6309 8519 2942 6703 905 1208 5301 7102 8004 9110 908 8548 2614 9002 9706 704 906 5305 3705 1203 2527 2604 2612 4502 4815 5005 5110 5303 7101 7109 7503 8006 8522 8710 9108 9203 9109 9111 5307 8002 8110 3818 1402 707 1511 5006 2605 6901 7221 5113 502 2705 7316 86027118 8805 4705 8401 205 8603 8605 8908 1514 2620 2502 -1 .5 0 -.5 Normalized RCA Index 2005 -1 1 South America 2 South America 1 2502 7905 28 .5 Normalized RCA Index 1995 -1 3502 601 1003 -.5 0 Normalized RCA Index 1995 .5 1 2.3. Asia Eastern Asia -1 -.5 0 .5 .5 0 -1 4301 8102 9013 5108 5309 5306 4303 5002 8104 9113 5311 4302 8715 2843 502 4304 8609 8109 5107 5903 6701 6110 8308 5005 8713 6507 5308 6502 9504 6601 8108 6002 2920 6602 6702 5801 5106 6704 9112 2938 7221 2003 6117 9103 5807 2846 8522 7020 8901 8447 9606 8444 9615 3604 6913 7107 8111 2940 9208 9002 9107 9305 8103 8601 7106 2926 8470 9209 9105 8458 6603 8457 7410 9004 71154903 9110 8529 8213 8451 9503 6215 5508 6406 8453 103 8712 6505 4602 9505 712 7218 5110 7211 9003 507 8306 6202 5113 9501 9607 2925 9102 4202 6104 8531 2850 6907 9001 4502 8513 5111 9005 2831 7001 8521 6103 5901 2816 2837 6210 9617 9111 7014 4111 505 2822 8460 6116 8507 5905 6115 6217 5804 7412 5403 6001 9613 3913 8214 7116 8113 5507 9009 2825 4814 8477 8539 2929 3406 5209 5112 2927 6201 5609 8449 8310 2808 2924 7105 6108 8112 9106 8301 4110 5206 8404 8454 8101 7015 9506 5806 4107 6815 2821 2519 3903 5007 6112 706 3705 7419 4109 8215 6212 9405 8510 9025 6503 6402 5810 6204 7409 8305 9019 9605 8519 4414 2805 5208 4908 2908 8518 5909 9202 8465 2913 8463 9006 2704 8504 7104 8480 8516 7018 8106 6216 9012 9017 8517 9502 2838 5606 5907 9616 8534 4421 8402 7219 8110 4906 5516 3915 5603 5407 8508 8440 6911 5514 4821 8441 8445 3911 8 5808 211 5401 4002 7012 5604 6506 9206 5004 7019 9109 2708 2848 2917 6111 6203 8462 8472 5408 5803 9610 2812 8210 2907 2804 9507 4910 1508 9611 8456 8538 3812 5405 6303 8443 8475 8459 2839 5512 8503 503 7227 5513 6109 3908 8464 8452 8604 4017 4419 5109 7225 1605 9027 8520 6213 9304 7317 7315 9205 7205 9404 7415 8461 2817 3806 8906 7416 5211 4909 2935 3926 2930 6207 6107 8107 3914 6902 8426 3207 6301 6504 6205 2921 7212 8302 2841 1503 7016 5102 8423 8416 2937 3506 3919 8427 2836 9011 1211 9108 3210 3407 8711 8204 7008 2201 5902 3823 8602 8419 8514 8509 9114 8446 6814 7801 2941 8205 7220 2919 9608 8540 8536 5501 7209 4405 2820 8473 8202 7226 2504 3504 8471 8607 3702 7009 9207 3921 6102 8448 8804 7901 9401 7006 9008 7229 8479 7223 7228 2835 5404 2928 7405 4101 4104 3204 4420 3918 5006 6211 2842 7309 8543 8203 5605 2932 8424 3005 7411 2918 8481 8506 7325 2526 5503 5911 3403 7607 3922 8406 8005 8411 85328533 8468 8525 8006 7101 2833 7407 8527 2914 8307 9603 8608 8208 8003 2716 3213 7210 8417 4013 8439 301 7610 7508 8544 2006 1501 9010 5402 9508 7606 6106 3910 7318 8303 4823 8428 6206 7005 6804 6805 8414 9618 27063501 3912 8501 3807 4810 2703 8505 6307 3906 7504 4105 6302 4806 2827 7314 6806 7326 8547 8545 9031 4205 5811 6909 3810 3822 8528 2923 5607 7217 7307 8425 6403 3212 6903 3920 2934 8007 8714 3907 9029 6810 9016 5510 6208 5205 2933 2811 7505 8450 2712 8542 8206 3809 9614 7907 7208 4003 8415 9609 1212 5003 7112 5906 2830 7007 8526 2911 3924 4203 8311 8902 3909 6404 7302 8420 6310 8422 5210 2851 3904 4601 2916 8466 8605 7213 8512 9022 5608 8201 7906 8515 2819 6209 7117 2824 5105 6802 7608 8483 3001 7323 7011 8455 7002 4805 5515 7312 2903 9403 7017 3801 6306 2829 3701 6914 6304 8523 1506 5509 510 2303 8467 2823 3817 3203 2702 703710 9032 7303 3902 6105 7616 2815 7306 3815 7502 7615 8476 7324 7222 7216 3818 3821 7322 711 8207 5908 2840 8484 9028 4201 9024 305 8429 2832 7414 2828 5602 7207 2847 3208 2939 9402 9023 3206 3925 2922 3215 8412 3703 3805 6808 6101 5406 7114 8413 5104 2518 3202 3820 5904 8502 1603 9021 2912 5705 8209 8541 9018 9204 7601 203 2507 9101 3211 4008 8442 7613 2931 602 89057603 8482 7320 7201 4010 8410 2849 7903 511 7408 8304 811 7418 2505 4011 7319 1213 7110 506 8421 8603 1602 9201 808 84308708 5506 208 6908 3405 9612 7904 9033 2826 9026 3916 3923 9601 7321 8474 307 1210 9015 7308 8408 8438 8716 9704 704 8703 1902 2508 9020 8403 8548 2807 2002 7806 9030 4817 3905 2713 2701 3404 4822 8436 7004 7506 9007 6910 4809 4808 3816 4901 9014 7003 2902 1505 2619 5802 4016 6803 3205 6305 8537 1514 8418 3214 504 3802 7316 206 2103 2402 4811 3813 5504 4501 4707 2512 2803 2936 4801 4014 3808 2901 6214 6114 4820 7311 1005 4819 9203 910 303 5805 7609 7215 4911 29092514 6309 1401 5502 3606 2008 8606 4417 3101 8212 8702 7804 8705 8437 1202 2308 5505 3707 8511 4106 4504 6113 5910 7604 9104 7202 7013 8546 2005 1702 3901 8435 2209 6405 2530 4401 4103 3006 3304 3917 7310 2206 7214 6501 7301 4408 3105 7113 1214 7417 4418 7614 8434 805 7413 1209 4012 2525 3209 2208 3103 2511 7803 6906 508 5101 4009 8524 4905 904 2834 5601 5703 7304 9703 8535 3507 204 3814 4416 8530 4902 8907 2915 8407 705 3402 8409 8904 709 4804 409 1109 7406 9702 4412 9062906 4816 5202 4904 7010 9705 2529 8431 4006 2904 1002 2517 6809 7103 4503 4813 7503 1302 4818 1518 7404 8709 5204 8432 1105 7204 8704 1515 8801 9406 3002 3307 4005 4411 9306 9302 701 4701 2905 1108 7102 302 2910 4807 8803 81054706 2613 407 1903 6904 306 1521 67034004 2523 8433 6812 7305 1008 3804 3301 2506 3102 2710 7611 8903 304 1058469 3602 3819 3502 3601 4108 210 7108 5809 2309 7313 2001 2503 8121604 3505 4812 713 2707 806 3503 9022102 2502 1204 5212 2203 8309 3004 8908 7602 6912 5701 2621 8478 9602 8485 4415 1704 3306 9604 5001 604 2501 2106 2307 2105 810 1904 25103603 1905 1206 4015 4409 48022202 7605 2615 2521 1007 7507 1601 7902 9303 207 6401 802 4803 9701 5511 2522 6801 7224 2104 2715 1106 4406 3704 4007 7109 6813 2513 8405 8706 603 2007 6308 4404 5103 4815 8701 7118 1402 6807 7403 813 2818 7612 3003 4013305 814 5702 4407 2101 2401 7206 7905 408 3303 6905 6811 1207 708 1101 1208 2302 1004 2809 7111 2516 4204 807 410 1806 2306 6901 3104 601 3706 209 8710 501 2004 2403 3811 25201301 2802 809 2009 5302 2806 101 2611 1805 2810 2844 8805 4413 7805 1062620 5207 4402 102 4704 2845 5704 8004 4022515 9307 3302 1517 2614 2207 9301 1104 804 8002 2204 3201 1103 8001 7402 26031107 4055301 2942 8802 5092617 1701 1504 1901 909 4206 9706 707 714 2618 4403 1102 22053401 4410 3605 702 5203 7401 5310 7501 201 2608 8707 1205 2305 403 4705 1519 2607 1006 1804 202 1001 2528 1404 2301 2801 7802 2813 2616 1509 2711 4102 2524 1520 803 406 1703 2509 3803 404 901 14034907 2714 1507 2709 4703 4001 1522 7203 2814 5307 5201 1003 2601 104 2304 1803 1512 2609 1502 5303 1510 4702 1516 908 53042606 903 2605 907 801 1511 1201 2602 1513 2604 205 1802 1801 2612 2610 1203 905 8401 2705 2527 5305 -.5 Normalized RCA Index 2005 .5 0 -.5 -1 Normalized RCA Index 2005 1 1 Pacific 1 905 7101 508 7202 1801 8906 303 4403 4408 1203 8908 2603 1802 2616 1703 7116 1501 8903 9601 305307 2714 7111 302 1904 8902 2510 8802 1207 1602 1212 2517 8404 1101 7313 8905 2715 1513 4819 6904 7307 1905 1105 901 7317 72047306 7314 9702 8459 4405 6102 22026114 4407 2823 33071211 9302 63105608 210 6906 2102 902 5212 8463 2308 7802 8452 106 8907 3209 1902 2710 2523 2309 7309 2105 4103 7602 4401 1701 1510 3003 2201 6308 6105 304 3306 408 2828 8445 3213 1604 7415 5203 306 511 4902 5201 3002 4420 2009 3605 1004 3006 1601 1511 6309 4905 3401 9705 8803 3210 5304 2806 9014 1605 4901 4820 6912 7326 1104 7113 301 9606 9403 62107311 1903 9703 3917 3604 6109 208 3208 7310 9015 4501 2301 9404 9023 6106 1006 4006 2509 4706 6401 8705 9208 4418 402 910 105 6207 7904 4107 714 2804 4707 3402 2001 6107 2306 3004 1704 6211 8417 9507 9701 3922 2101 8406 6306 908 3925 3916 9031 7224 5607 2106 8484 7210 7112 8418 9402 9101 1901 9610 8429 6905 3819 8430 6812 8609 6101 9604 2007 2204 4412 2103 76158426 6208 2203 7610 9202 7508 9206 9615 4802 4818 9010 4409 8419 8431 9603 7217 6209 8544 4008 7323 6113 8210 3822 4413 7324 5601 4910 6305 6303 9017 9608 204 2843 1514 2208 405 7118 8709 8424 9105 6203 403 7319 2008 407 1208 2801 3406 8447 813 401 4821 9005 8472 6205 9205 8435 206 93034817 6117 9018 6201 2930 4601 3918 3005 3101 8420 3304 3813 8303 9613 6403 4417 2526 7613 3305 3701 3706 7322 8801 2851 2936 6908 8466 8438 8304 9201 7308 3214 4911 5911 3923 6104 7212 2005 7616 1516 8205 5609 4202 5705 7905 6808 7302 207 3303 8465 6110 4803 6302 7318 3915 8211 3820 6910 4101 2706 9026 7612 4812 6213 7226 103 62047315 710 3823 7321 4011 5803 9609 801 3403 8421 1103 5702 104 812 702 4503 6913 8425 8483 9033 9304 8508 8507 6501 5908 1102 4811 2519 9706 9406 4810 8409 1806 4404 8543 8716 8310 7117 9405 8212 8506 4205 8413 8547 2926 6602 5704 9021 4012 2513 4909 6215 5208 9204 9106 6810 7906 8701 1805 7019 8201 6405 4816 8515 6307 4013 8513 1517 8208 4809 3909 203 7305 820290278524 3816 5514 5907 8203 7003 6911 8537 2004 8103 8213 7404 2811 201 406 8703 6217 7214 7213 8215 5804 6601 8443 2501 6002 2703 2707 8535 2402 3814 9102 9508 6505 9009 6404 8412 8539 2807 5204 9505 3301 8712 507 8527 3212 7015 3926 2940 6506 7218 8704 8468 7301 8481 8440 8502 6406 5508 6212 9401 8432 7303 8302 8403 2805 9103 8467 2104 8713 1209 7316 8511 8480 6116 2209 6103 8206 903 2507 4002 6806 8427 8414 3506 4703 4806 6702 7010 6206 1214 6304 4411 44218207 3707 4823 7007 4009 9008 4808 6907 3808 7312 7229 4903 7801 7804 3202 5807 1507 8702 8301 3407 9207 8415 6214 8407 3919 9506 8311 7412 8545 7803 9306 6108 8536 2302 6804 8433 9611 8533 5806 6202 7222 4016 5604 8436 8442 8477 9501 8451 8305 5810 6503 8411 9503 8204 4203 708 705 6111 712 3806 3920 2002 5602 6909 809 5404 8517 3505 1106 9007 9032 3924 7304 4001 701 3206 4602 5513 7009 504 3001 5211 8470 9612 3215 4419 5403 9022 3802 8530 5401 5408 8708 8482 7013 4908 6001 8423 2505 9025 7228 4005 6809 6914 7005 8214 8514 6402 6802 404 5901 6507 8526 1702 9607 804 4111 4303 9004 2003 9011 6814 6115 7806 3204 709 5515 8523 8711 7004 2028402 2903 2942 5407 6815 7216 8473 5202 6301 7016 7411 6901 9602 8450 9030 3921 8474 4410 2516 1008 1509 9002 8408 4104 102 808 1302 4415 4414 8308 9012 8471 505 1518 2206 2401 3203 4201 4814 5303 6811 8503 8509 2815 2907 3602 3702 5510 6502 6807 7103 7220 8441 7108 3404 1404 7614 9028 5512 8504 8422 8516 6805 805 811 7417 9013 5516 8528 1202 5903 7206 7211 9109 8479 3805 3906 810 909 3606 5504 6902 7020 8603 7604 8501 3811 3817 8476 8538 703 8505 7606 4014 7215 8428 602 9112 7607 5209 9209 8520 1512 2941 3405 5808 7208 8707 9114 8512 8529 2530 603 1803 3102 3503 3809 4010 8715 9605 8714 3902 904 3302 3815 5703 7006 8461 9020 9307 9502 9617 4015 706 2520 2713 4007 4102 4804 7325 9029 9618 7011 8485 6216 3901 713 704 803 2207 2803 3105 3913 5603 5801 5906 7419 1515 8519 9504 3908 8518 8525 802 1401 1519 2604 3812 4017 5007 6112 7225 8306 8437 8521 8542 9006 1804 2619 2814 2827 3911 5111 5107 6504 7002 7609 8209 8462 8541 8460 2006 8540 5210 7608 4907 3810 4801 1108 4805 36037907 707 907 2712 2923 5101 5207 5406 5509 7018 7219 7320 7605 8112 8522 8901 9003 1005 2901 3907 2711 3703 8532 8531 8448 6813 8307 8534 101 205 209 503 502 501 410 506 510 509 604 711 807 806 814 906 1003 1002 1107 1201 1109 1206 1205 1204 1210 1213 1403 1402 1301 1503 1505 1508 1522 1521 1520 2205 2305 2304 2303 2307 2506 2504 2503 2502 2508 2512 2511 2515 2514 2518 2522 2521 2525 2524 2528 2527 2602 2601 2615 2614 2613 2612 2611 2610 2609 2608 2607 2606 2605 2702 2701 2621 2620 2618 2617 2705 2708 2716 2802 2810 2809 2808 2822 2821 2820 2819 2818 2817 2816 2813 2812 2826 2825 2824 2834 2833 2832 2831 2830 2829 2842 2841 2840 2839 2838 2837 2848 2847 2846 2845 2844 2850 2904 2902 2911 2910 2909 2908 2906 2913 2920 2919 2918 2917 2916 2922 2925 2929 2928 2927 2935 2934 2933 2932 2939 2938 2937 3104 3103 3207 3211 3504 3502 3501 3601 3507 3705 3704 3803 3807 3818 3821 3903 3905 3914 3912 4004 4003 4106 4110 4109 4108 4204 4304 4302 4301 4206 4402 4406 4416 4502 4504 4702 4701 4705 4704 4815 4822 4904 5113 5112 5110 5109 5108 5106 5105 5104 5103 5102 5006 5005 5004 5003 5002 5001 5206 5205 5302 5301 5308 5307 5306 5305 5310 5402 5405 5507 5506 5505 5503 5502 5501 5606 5605 5802 5805 5809 5905 5904 5902 5910 5909 6701 6603 6801 6704 6703 6803 6903 7001 7008 7012 7014 7017 7107 7106 7105 7104 7102 7110 7109 7115 7114 7201 7203 7209 7207 7205 7223 7227 7403 7402 7401 74067407 7405 7410 7414 7413 7501 7418 7416 7507 7506 7505 7504 7503 7601 7603 7611 7902 7901 7805 8102 8101 8007 8006 8005 8004 8003 8002 8001 8106 8105 8104 8113 8111 8110 8109 8108 8401 8405 8410 8439 8444 8446 8449 8453 8457 8456 8455 8464 8475 8478 8510 8546 8608 8607 8606 8605 8604 8602 8601 8706 8710 8805 8804 8904 9001 9016 9024 9104 9113 9111 9110 9108 9107 9203 9301 9614 9616 1001 3904 2835 2914 2836 7409 8548 2704 2905 5311 4807 2912 8469 5811 4105 2921 2529 4813 7408 7502 2849 8416 5309 2931 5701 5511 409 3201 8454 9305 1007 4906 7221 2915 3205 3910 8458 3801 2924 1504 2403 150283099019 1603 8107 2709 3804 1506 8434 7903 601 9704 -1 -.5 Normalized RCA Index 1995 Southeast Asia 1 -.5 0 .5 .5 1 -1 0 Normalized RCA Index 2005 1511 4001 9706 714 1513 8001 8805 71114007 1519 410 9307 1520 4413 9301 3811 1522 8002 8469 4907 4705 1802 8485 1402 4015 2910 40044812 3704 1903 2611 8803 3505 1108 84014005 8405 7406 4701 2915 9104 1516 1805 3707 4409 1703 8431 4410 7503 1401 9030 105 4401 2617 1106 4403 1901 2520 8709 9704 8541 5504 28148548 7316 9201 4807 4809 7805 4706 1804 3606 2521 8535 7319 9033 9007 803 3818 2936 5601 1006 4418 3507 907 8537 9612 8482 2208 4412 1801 9101 4014 9014 5305 8523 2701 7806 1203 8409 4802 4411 7803 7011 40163404 4407 3303 1604 3064402 6812 8515 18031403 807 48138407 7611 8530 8478 9026 9203 8542 9024 4009 1517 3401 8907 8209 7902 5511 3215 3214 8466 2916 7504 4816 603 5204 8435 2902 7903 2303 813 4703 8505 7616 2101 2309 3304 8524 3810 54066914 9031 6811 4801 304 9018 2707 8526 9032 7609 2302 8412 9023 4415 8207 6809 9021 5910 810 3905 8532 8005 6905 9705 5001 9029 2403 8533 8511 2513 8206 2203 4811 1510 8714 901 8546 8476 2711 1506 3910 2922 9015 3819 2614 2105 8304 8467 9008 8543 8415 2402 2713 7006 8501 7507 301 3907 8003 5509 6909 8473 5608 9020 2306 4822 9207 302 8471 1102 3821 7320 4408 3809 307 8418 2106 908 4006 9114 9010 904 1301 8527 3301 3802 4010 8710 7310 3305 8408 8421 2710 6114 9108 6912 4902 2934 7301 8430 404 8540 7804 2505 7608 8442 7305 8536 2844 2901 5510 9701 2911 3906 4707 7907 3909 2103 5906 8311 5202 3208 8506 7113 2008 7407 8708 8414 2209 5402 6404 8411 7418 508 3209 3703 8512 8484 8608 5704 8547 2905 5503 8502 7802 8520 3402 6808 3902 3307 7307 4008 8479 7112 8450 1603 402 1905 2603 7414 7204 4805 2909 2832 8309 7318 8448 7016 8413 8905 7603 8208 8705 8801 3901 704 8483 7215 8420 6813 4204 407 7404 9403 9109 4420 9604 9011 3206 2503 9205 8428 9618 4901 5605 9507 7311 7411 4808 2006 8468 8528 8461 6403 1514 2606 8452 2811 8425 8534 2842 4405 5602 3302 9602 3701 8525 2715 8503 3815 7226 7304 4905 90278303 801 4003 7312 2615 5006 2202 4904 3925 3904 7326 3403 708 7103 29373914 3805 3306 8436 3908 4419 6801 8456 2619 8105 5911 4012 2923 9028 2803 4810 3816 2705 6804 7905 90168519 3101 3211 4017 8459 4820 80078004 3920 8903 1702 9006 7612 709 2903 3923 305 9012 6309 7003 604 6405 7104 8538 812 8704 7408 6910 6810 9306 9401 6211 7602 9402 3926 8423 25229703 3201 5902 7013 2508 7005 3918 8518 3205 7315 3003 2933 8517 2932 2523 8426 4803 4818 2912 4819 8429 3212 814 4011 2005 7302 3602 6308 7114 8406 4823 5514 8438 713 6805 403 3813 9614 2511 8212 4417 5505 3706 9206 1904 8514 7007 2840 2914 7502 3919 811 1212 7613 4205 8481 7614 9601 5404 8302 3916 3911 8544 1104 9022 9702 5513 8443 3705 6105 5502 7009 7205 106 8403 1209 4601 1518 6102 8112 9605 8449 3823 1806 5206 2205 1902 9009 3702 2702 4906 6213 2917 5703 4013 7607 8480 3002 8504 7415 8802 6113 2847 6101 9111 7413 4702 7605 5512 5103 8110 4103 401 1704 2806 8474 906 7308 8106 7002 9609 3204 3921 8427 3822 3814 9017 2822 7102 3812 909 8416 2930 2813 9019 2907 3210 2845 6310 6209 4414 5811 8475 9608 7610 7322 6806 1701 8521 2838 8464 7217 4911 2931 1505 4804 8509 7506 2104 3501 3903 5401 7014 2927 8463 8424 101 7403 303 8202 4817 8510 8531 2009 8516 3915 4806 8703 5806 6305 8462 7212 9611 9616 2609 7229 8472 9202 8305 1008 8422 8437 7306 7017 2824 5805 8432 602 3806 509 9502 4821 6109 3917 3213 5516 5607 8419 3912 5004 8508 8205 7216 6904 7208 7118 2602 8904 2517 8465 3006 804 7309 1521 3506 7409 6111 511705 9106 3808 1605 9302 1504 3102 6208 2805 8006 9603 5210 2007 6908 2823 3202 7101 2507 7223 9508 9001 1302 3005 2204 510 7015 7324 2851 8434 9110 2621 4002 1211 3801 1207 8711 8539 103 4201 4421 8529 6001 2929 7410 4404 8310 1602 6506 7010 3407 409 6815 5408 405 507 8507 9613 6906 8101 7416 6201 6307 4910 8439 7108 3405 6401 4406 7801 3105 6106 1501 5908 2849 8604 2817 9025 3004 2529 6205 8716 4501 505 5604 8460 2850 5507 1202 910 5203 3605 8908 7417 8477 7222 9002 7314 2716 7225 4602 9506 9209 5810 2525 6304 5603 2518 7601 3924 9607 69076402 8522 2918 6212 6807 2526 7220 2928 2921 3207 6902 711 7019 802 7228 8804 3203 3913 6504 2924 2837 9404 7317 2709 8440 8307 6216 2206 9405 2308 1214 7018 7604 9610 6207 5515 5705 2815 2714 2833 501 2821 8402 7325 7505 4814 7606 9406 2831 8417 7115 9005 710 8446 8441 2906 8455 703 7901 2620 7412 6217 8902 6210 5407 5609 9102 2516 3922 2804 8301 7210 8513 8707 4202 6203 2939 8306 8457 1515 8458 5905 3603 2836 8404 6103 8203 2828 702 1205 2802 2839 7020 5804 7213 6116 9003 2501 6206 8545 5003 5501 4104 707 2904 2846 6215 2083804 2001 203 1508 2102 2940 701 9112 8447 210 9505 9004 1101 9107 5508 7209 5909 2848 7323 5809 7116 8201 2807 2827 2825 6505 4111 7419 2919 2401 6204 6303 4416 7219 4909 5208 2530 2819 6903 7106 3502 9606 8470 7203 5506 5808 8906 5205 1404 2908 7303 9503 3820 2515 1512 6107 6302 5212 902 5702 9504 6911 6108 6913 6117 5211 2004 2608 8410 2801 7117 4503 7105 4105 2610 1109 6603 9303 8433 5209 506 4203 61046112 6814 8451 2003 6202 7906 903 7321 7207 9617 7615 2808 5803 7063807 2941 2841 7227 4107 7405 6503 9208 2834 6602 5807 5007 2712 5907 2826 8701 6306 601 5005 8706 5105 5403 8454 5111 9305 5303 5107 8445 2835 2207 6507 6406 805 4102 6214 6704 3001 8214 5405 4903 8901 2301 7508 9615 7211 3803 8609 8712 2512 1213 5207 5901 1503 4815 3817 7313 7218 2604 2201 8308 5802 6802 2935 4504 8607 6002 7008 2504 209 408 8108 2843 502 2528 2812 6301 8444 6115 8204 3104 102 9103 2913 1208 9501 712 4101 8702 806 3406 8113 1105 9105 9113 71074908 5903 2816 1103 1007 2938 7214 7001 79046803 8215 5109 2829 8453 6702 6501 1005 4106 1507 4304 2925 2514 8211 905 6110 3503 8713 8103 1004 8210 5701 7004 8109 7202 2509 5311 29209013 3601 5310 1210 1601 808 809 6703 7221 5112 3504 1509 8213 2607 2830 2601 3604 4502 4110 406 5301 5606 6901 7110 6701 5904 2820 2506 5801 8111 7206 4302 7224 5308 8104 2810 206 2706 6601 207 7501 8107 1502 8715 2809 1206 5106 2942 9304 202 204 1204 2002 2818 5002 8102 5104 4109 4108 2502 2519 5309 29268601 2703 1107 54303 04 7401 104 2618 7402 4206 2305 5306 503 3103 5113 1201 7012 1003 2708 2605 5302 1001 8606 7201 5108 2524 2304 2704 5307 2616 5201 8603 2613 8605 6502 201 5304 2510 8602 2307 4301 5102 5110 5101 1002 205 2527 7109 -1 -.5 1 .5 0 .5 South Asia 9204 4704 -.5 Normalized RCA Index 2005 2612 -1 0 Normalized RCA Index 1995 1 Normalized RCA Index 1995 5307 5303 2942 5310 5207 501 2305 7118 2705 6703 5212 2525 4106 2514 1002 2621 408 3605 906 9701 5305 2516 6214 8710 1203 7102 9602 2610 2306 2606 2818 7507 2601 7417 2608 2506 5104 1301 812 9601 202 1006 902 7413 2904 1403 1008 1204 2939 1302 7117 4203 4201 5205 1202 9703 804 604 7305 3706 5210 2906 909 5003 5202 7114 2620 4204 3301 2511 3003 6304 713 7222 2513 2806 7405 2802 5204 6306 7113 7103 8004 2919 2304 7323 6101 5201 2935 8545 904 2614 1516 2302 2529 5701 2941 2851 3002 3004 1207 910 6405 8524 5405 63073817 1106 4501 8403 703 7418 2501 62086302 407 4108 7012 908 7613 2001 3001 907 6305 1502 5001 1515 2912 2828 5705 204 5805 7416 8546 7804 3205 9022 8455 8204 709 5515 59106206 2706 306 5607 4003 5211 409 2913 7603 7017 84017408 405 2803 3037105 8435 1007 3204 7614 801 25087325 4012 6903 1101 8706 5203 5510 7505 8203 7905 1402 8212 3821 5007 2526 2813 2618 5702 5208 6105 7414 2823 9016 6813 68125802 2523 2928 8107 2911 2521 7210 7615 2517 4105 5006 4014 2849 3808 7605 8442 6501 2921 8209 5403 6803 2848 8438 2707 1518 3306 6814 3203 8702 8902 6207 2933 7201 1508 8474 8711 6802 7419 7303 8905 4008 4013 6205 3704 5509 1703 6303 761182147223 80075103 5901 6114 2710 7403 8907 3503 2615 7010 5408 2902 8484 302 1209 8404 8904 7803 701 7018 2403 8309 3918 3202 506 8307 6116 6910 3603 25091211 4011 806 5803 8417 1205 6113 2827 2824 4816 7004 2925 4026216 3802 1001 8709 8547 601 8405 2507 2505 508 7311 1702 9608 5505 2908 7112812 305 2619 8432 3813 1208 8454 8437 8535 5113 7206 2515 1903 8440 8419 7306 2836 1404 4107 8514 6204 2903 63107415 4010 5809 5512 4104 5407 5605 9506 401 2713 7202 8420 7320 813 4015 5909 9018 510 6107 7609 805 7221 8201 8205 7208 1109 4802 6209 8607 3307 7308 7903 3914 2923 3006 4909 1605 8714 307 7302 8422 5511 8448 3303 2401 4823 8402 9024 2907 208 6211 710 2832 2007 8101 9203 6106 6503 4905 2518 9305 2838 2831 6111 7307 6109 4904 7904 4206 45045109 15054901 5504 4205 7312 5811 2938 2816 9604 3815 6902 7218 5209 5102 5608 7402 2839 2901 6506 6401 7301 5506 6203 802 4004 9023 2937 3924 32133208 4820 3912 84817607 7219 2712 7601 87018445 8712 8478 5513 712 3210 7318 8413 2101 2814 2829 5406 7606 1519 8908 8466 9033 72277805 2909 5906 3917 8408 807 810 7406 404 9508 1704 3507 8430 7215 4410 3305 7324 4103 7220 5402 6213 8003 2936 1213 1905 210 3005 5404 7409 3920 63017217 2207 8215 8409 7209 603 8406 7907 7412 2715 8468 8416 3801 9105 4707 8708 4404 3602 2922 3212 7802 2931 8443 8602 7229 2833 2915 5908 2602 3502 1514 8703 5503 4822 2940 3916 5704 3215 40168213 7213 8303 3822 8483 3101 3926 3925 7508 3806 6815 8311 3902 3812 3811 511 8410 4415 7319 2817 2844 6210 1517 8477 6804 8109 5111 5810 7225 7228 4910 5609 7212 4902 304 901 8421 6112 9402 2918 5308 602 7304 8434 2830 9609 3805 2504 8446 9026 5602 8530 3401 8412 4411 7224 9028 4408 7326 1904 2924 8459 2009 3923 8485 6403 5808 6912 34037226 9614 8704 3907 5601 2309 8705 708 1102 5907 10055105 3819 8441 6908 8479 17018302 6603 2905 9603 1901 1520 8608 8006 7112 8208 6103 3505 8105 9011 3816 8207 8414 3901 1401 4417 7207 7310 8463 2837 2208 4017 7204 5042917 9015 704 2106 3304 2845 4601 8472 3302 6806 2826 6115 4402 7806 2934 8537 8423 7211 28014009 5302 2607 6217 4001 5703 2821 2008 2914 5806 3809 5507 1206 6104 2815 3911 2920 6905 2808 2811 2201 2206 8482 201 3919 3209 4202 2703 4817 7203 4810 3405 8906 55014911 2805 8502 8436 7901 6102 6801 19025306 8444 7322 4821 7608 6201 2702 3402 6502 4416 7315 4421 3909 4804 9017 8504 5112 6406 4819 4813 3501 3823 8411 6108 8211 6808 9617 2616 3211 2840 7205 5911 8461 5514 6811 3206 9404 3904 8426 8458 8901 7616 8544 8462 6505 9025 1603 3201 8418 7407 2202 4808 811 8475 4807 8511 105 8512 9021 2927 2850 803 2520 9403 1108 8538 7316 4102 8439 8449 6001 507 2205 27149610 1004 6914 3506 2203 2102 8202 3803 8803 8476 8424 2530 2502 4806 7314 3903 8431 8433 9012 8305 5508 760490075401 814 5106 7009 2303 7404 702 7001 1513 2522 8469 4811 6602 9001 6909 2704 2834 6215 4706 8605 7104 8112 5002 6911 3810 7216 7610 808 8002 6906 8716 3906 4005 4418 7612 1103 9027 7011 5516 7019 7309 8206 8505 5807 7801 6117 8606 3807 9032 5606 2842 6504 3915 2402 5301 403 3404 2820 106 8451 903 8509 9020 7401 1604 5005 8802 2926 4809 7016 8428 7002 8306 7317 8465 8310 3407 4812 7411 2708 7313 8501 7015 7906 8506 3910 3905 4801 301 9205 2307 4503 8480 3922 8460 910331021105 1802 84275804 2807 2519 2930 2701 7020 4006 4002 8102 8539 6202 5502 5004 5107 3504 5101 8464 2825 4815 4419 2847 2105 1212 3921 9102 5604 9606 2528 2003 1214 7005 8536 9101 509 8301 3606 3913 7110 8429 8518 502 4414 9307 4412 9705 4405 9209 8415 8106 6002 8467 4704 3104 7321 3214 2916 2932 8425 9618 809 104 1104 6810 6404 8113 7003 8528 5206 4814 1510 2005 2617 3701 706 5903 4110 2512 9505 3707 9014 9109 9702 9507 6901 4101 7116 705 2804 6110 1806 2004 2503 7902 9302 1504 9005 8452 3105 4007 8503 7109 4401 7506 206 32079206 5904 8507 905 9104 3601 2810 4420 5902 5801 8308 1512 9612 2822 8450 8540 6805 3703 7013 6212 9607 9502 6308 9002 6507 8525 6907 410 9114 9010 9113 9029 707 8304 8470 9031 1601 406 2103 5110 4906 8103 3702 2209 6309 4805 9202 8903 2006 9030 2910 1804 2835 3103 4908 8515 8108 5311 9406 2711 4406 7503 2841 7007 9405 8517 7101 3604 4413 8609 8456 3818 101 8453 8513 8533 8516 7214 4907 9306 9204 2929 1507 714 6904 9303 7008 1521 9006 5309 8707 8407 2819 5304 503 6704 7602 4403 3406 6807 4803 3814 6702 8532 8210 9207 4407 8520 2809 9003 3820 6402 8005 8110 2308 9615 8543 4705 4903 8447 3908 1602 8713 8715 8527 9110 8508 8541 7504 2524 6701 2301 8523 1803 2104 8526 8473 6913 1511 9019 8457 9108 8804 9107 1805 1210 9503 4602 7115 102 8510 8471 3705 1522 6809 2605 5603 9208 9008 9004 9616 3804 9401 103 1003 4502 1107 9009 7502 1501 8111 4818 8104 6601 4409 8519 7014 7006 505 8534 8548 8805 9106 2204 2843 9301 2613 8531 5108 9706 7106 9611 9111 203 92017111 4111 7501 9501 1201 207 2846 8529 7410 2611 2510 2002 1509 2709 209 9605 8521 49613 302 5905911288012716 8001 9504 8522 8542 2604 4304 4703 7107 4303 1506 2609 2612 4301 4702 4701 8601 8604 8603 1801 9013 7108 9304 4109 2603 1503 2527 9704 205 -1 -.5 0 .5 1 Normalized RCA Index 1995 .5 0 -.5 -1 Normalized RCA Index 2005 1 Western Asia 6901 707 702 2845 3104 6308 7206 2709 5702 802 5809 15092515 6807104 1510 6801 5701 5704 403 6906 1208 1101 1003 2802 705 89049406 5703 7604 3102 909 7802 7108 5904 7214 7004 106 101 7082905 2503 27112102 1213 45037906 6113 6309 810 3814 2001 405 7013 6904 4204 807 701 2517 2002 401 7612 409 2510 1806 7322 4803 80043003 4006 2906 4817 7301 3901 804 406 9102202 2009 3807 2522 2909 809 4102 6912 709 1214 3917 2707 1905 1515 7602 1105 2610 9304 509 22098437 8716 9303 680268117303 51016405 8705 2710 8067204 5001 25096209 805 7324 27022201 4108 5908 6310 2513 7321 2523 704 6905 89032520 1902 4707 3303 2088304 7216 2105 4705 2521 2007 8602 2712 2620 9614 710 8502 5705 7008 5515 7308 4818 3820 4504 6301 602 407 3402 713 2901 2806 7507402 7113 3916 3924 2004 302 7010 7601 28296911 34015109 3905 4807 404 75032402 2912 2529 84468434 4415 6810 7110 6908 7902 2903 4819 2814 5511 7605 59074009 6806 8801 2403 8530 4105 8702 2844 7102 2005 7310 6814 2703 1704 808 7003 2714 1517 9302 7614 1904 8002 3305 8006 7220 7805 7207 8907 6114 8405 32111512 4404 7314 5805 813 4502 2715 2826 7215 2902 7323 8445 2505 7404 5110 8430 7306 4822 3209 2713 7613 2932 7610 8703 7615 8307 5606 2106 4808 9015 7223 3103 9203 23023922 3307 6401 3816 6910 3101 210 3206 3202 4103 7611 4706 2507 408 1516 3212 2815 8906 2827 8509 2823 1602 7305 6809 3501 711 8544 3925 7414 4813 8427 3214 7413 2819 706 6214 9020 3902 4011 2847 8215 3817 3405 6305 8309 8425 2516 9403 8474 87097002 6102 7804 4909 3207 3819 6306 8704 9021 8401 7309 8464 8418 8431 5602 8205 7019 1508 1212 5808 7313 8442 4501 5407 5905 5516 2832 9502 2103 9307 9404 5811 5104 1002 5601 2809 2801 7311 2824 3605 3606 2506 2042807 2834 2104 8707 8511 9610 7606 7418 7401 9604 8902 7907 2828 4902 1001 1103 8403 3004 7603 4812 8708 3822 6203 6803 6304 8450 5202 8415 58042008 6208 3923 6812 8432 7312 5604 5803 6206 1109 8421 8548 8453 4820 7213 9611 8438 4410 6303 5802 3813 9508 8535 1301 9402 3304 8455 2530 2804 6207 601 9618 3703 2508 8211 2006 7325 4418 8426 9501 3921 6504 9401 4013 2501 2836 7228 5102 5113 2511 7017 8710 8478 7508 8516 9101 8436 8409 5506 2716 9202 5505 8422 307 8513 2851 1104 4816 2203 7015 8417 8701 8429 9405 5810 4823 3909 9617 4814 7307 3005 2808 4601 8803 6217 8413 8510 5204 4411 5112 3001 8484 1522 68134901 105 4417 9503 7222 9005 3208 6202 6702 7406 1202 8537 4413 1701 7114 9010 8416 1206 8481 6204 6404 8468 2842 9105 6107 4420 907 7116 5801 2839 4101 9102 7616 9702 6216 2922 9612 4012 803 8410 8302 4106 1106 8303 305 6205 8451 7326 306 3918 908 604 5201 3920 9616 2810 8435 7212 4017 902 8420 7201 7901 39047609 1502 8905 1404 3213 5609 8301 3210 28302619 814 5406 12074804 4010 9103 7316 3306 812 3706 7018 9016 8512 7903 3301 3823207 4402 3505 7304 8485 1211 6111 8456 6106 3407 6403 603 4419 4911 9603 7417 6108 3811 2205 8412 8204 5509 7229 4809 6101 4408 4110 9615 1702 2805 7407 6501 3506 6201 8528 2821 209 4015 3002 8201 8311 906 4805 3911 5513 8465 3919 8472 8476 7009 3006 6808 9023 1703 1601 9613 7209 8424 2939 1209 8908 6914 6001 4811 6505 6115 7208 703 7007 3815 508 7106 4421 6804 6302 7317 4905 2401 7117 8712 4414 8524 3203 5605 3602 7302 8419 2518 3201 303 7005 7904 1520 7012 8306 5512 9026 1804 1506 7211 6902 3603 2607 8527 2811 1302 6913 6402 6105 8467 2848 4704 3105 1004 4203 8462 4016 5906 2913 6211 4412 4908 8547 2601 7801 2930 3912 8525 8483 9608 7607 8212 8407 3906 9605 6909 3707 9028 9018 9609 9025 2512 7320 8428 8406 9201 5004 8514 3704 6104 8433 2309 2926 5909 8901 904 8479 5408 5209 1903 4014 9706 9004 8461 3812 6805 3926 2904 504 6903 2917 8441 4906 4806 9007 3507 7112 2833 901 3915 3808 4304 1805 4910 3702 4202 6103 8203 3604 5211 8715 7409 9106 5203 511 6109 6307 9112 9206 6601 8539 7412 8423 2303 6506 6213 9704 5402 7107 5401 801 410 5607 4409 2812 8520 2941 2924 7318 7217 6406 8454 7203 4008 3215 3804 7408 2612 8206 9014 5608 206 9011 8546 8202 6210 262159024004 5106 4602 4407 3403 8414 7210 5911 2608 5503 4406 3701 8440 5111 7218 2817 8711 8444 5007 2835 2849 4701 7226 8310 8411 1102 9027 7402 8538 7415 7608 8113 1402 4003 6215 3805 1604 8463 8470 5901 8504 8507 8408 7315 8213 7224 1901 2617 2928 9022 5405 8101 3205 2942 8443 1505 6815 8460 6112 4111 8007 5103 2306 9024 5910 8452 3907 72259701 8402 7103 8517 9207 4205 4821 7419 1519 7806 9205 8545 8104 8447 2502 5205 5807 7016 5003 2519 9031 4802 5603 9017 8714 2606 304 712 2206 8501 1006 8506 9104 3903 7405 7001 7506 8404 9003 9032 811 6117 5105 2825 8482 2528 8477 7803 8503 2936 9108 8480 7403 6002 4810 8305 8208 1008 9505 8448 9506 8536 4303 5502 2504 8515 7205 5507 1514 9114 3406 8802 8214 8207 6602 202 9602 2101 5311 2618 7505 4815 6212 7014 3803 2911 5002 3809 6503 8475 5208 1210 301 8459 3204 5212 9019 1803 3705 4002 48013801 501 6701 1518 9006 8607 3910 7202 3404 8713 2708 6907 3914 2837 5309 9305 503 5508 8458 8469 8526 2803 1005 4403 9606 8523 5514 8210 7227 6116 5210 3502 9009 9507 2525 5310 1108 6110 5006 2003 8543 9008 2919 2846 9208 9030 7319 2918 2208 4416 7905 1204 2526 8608 4401 2706 2831 2818 3503 8706 5903 5307 4302 8521 7020 3913 1521 4903 2933 4201 5005 9607 9504 8439 201 5301 506 8603 3302 8518 7416 9012 9703 8107 7104 7006 3802 2308 8466 5404 8209 9029 2813 1511 2915 905 2923 102 2938 5806 8609 4904 714 502 4005 8108 8308 8473 2838 7111 9301 9113 203 2204 2304 9033 5501 3908 51403 207 4405 2841 4001 2514 4206 1501 7411 6603 4104 2916 3806 9109 8471 2816 8102 3504 9107 7105 1507 8529 3821 5510 7219 1504 8519 3810 5206 2925 8606 9110 2929 2907 8457 2921 6507 2305 5304 9204 6502 9002 9001 2705 2840 2940 5403 8508 2931 2908 5308 8111 4107 8531 1401 8103 7115 510 6704 8449 9601 5107 2207 1605 1007 7410 8533 9111 2935 2914 4007 2910 507 2920 9209 7011 2934 5302 1603 8505 5305 2603 1205 5303 4109 8540 7101 903 2820 103 2701 8109 4907 9306 1203 7501 1513 8601 3818 8532 7221 7502 8805 8005 8804 2301 1107 6703 8112 2602 2850 2937 2524 2822 2604 4301 8003 2927 2704 2614 8105 505 1201 2605 9705 8522 8541 2843 5306 8001 8542 5108 7118 205 1802 1801 2307 2611 2615 8604 5504 2616 4703 9013 1503 8534 8605 3601 2527 2609 4702 8106 7504 8110 7109 2613 -1 -.5 0 .5 1 Normalized RCA Index 1995 South-South Trade: The Reality Check 29 3. Trade Complementarity Index in 1995 and 2005 Caribbean South America 2 Southeast Asia Central America Pacific South Asia Eastern Asia Caribbean Southern Africa EasternWestern Africa Asia North Africa South America 1 Western Africa Central Africa 0 20 60 80 South America 1 Eastern Africa Western Africa Central Africa Pacific Rest of World 40 Complentarity Index 2005 40 Central America Southeast Asia2 South America Caribbean South Asia Western Asia Asia Eastern NorthSouthern Africa Africa 20 60 Rest of World 0 Complentarity Index 2005 80 Central Africa 0 20 40 60 80 0 Complementarity Index 1995 20 Central America 60 40 20 Complentarity Index 2005 Southeast Asia Central America South America 2 South AsiaEastern Asia Southern Africa Western Asia Caribbean Eastern Africa North Africa PacificSouth America 1 Central Africa Western Africa 0 20 Rest of World 20 40 60 80 0 20 40 60 80 Complementarity Index 1995 North Africa South Asia Africa Southern 60 0 0 20 Western Asia Caribbean South America 1 NorthAfrica Africa Pacific Eastern Central Africa Western Africa South Southeast AsiaAmerica 2 Central America Eastern Asia South Asia Africa Pacific Western Southern Asia Caribbean South America 1 North Africa CentralAfrica Africa Eastern Western Africa 40 40 Central Eastern Asia America SouthAsia America 2 Southeast Rest of World 20 60 Rest of World Complentarity Index 2005 80 80 South America 1 Complentarity Index 2005 80 80 80 60 40 South America 2 South Asia Southern Africa Western Asia Caribbean North Africa South America 1 Eastern Africa Pacific Africa Western Central Africa 0 Complentarity Index 2005 Eastern Asia Southeast Asia Central America Complementarity Index 1995 0 20 40 60 80 0 20 40 60 80 Complementarity Index 1995 Complementarity Index 1995 Western Africa 60 South Asia America 2 Southeast Central America South Asia Asia Western EasternAfrica Asia Southern Caribbean North Africa South America 1 Eastern Western Africa Pacific Central Africa 0 0 20 Southern Africa South Asia Western Asia Caribbean South America 1 North Africa Central Africa Western Pacific Africa Eastern Africa Rest of World 40 40 Central Southeast Asia America Eastern Asia South America 2 Complentarity Index 2005 60 Rest of World 20 80 80 South America 2 Complentarity Index 2005 60 Eastern Africa Rest of World 0 0 20 40 60 80 Complementarity Index 1995 30 40 Complementarity Index 1995 Issues in New Geography of International Trade 0 20 40 Complementarity Index 1995 60 80 3. Trade Complementarity Index in 1995 and 2005 (continued) Southeast Asia Southern Africa South Western AsiaAsia 20 Caribbean NorthSouth AfricaAmerica 1 Pacific Africa Western Central Africa Eastern Africa 60 Rest of World Eastern Asia Central America 40 40 Southeast Asia Eastern Asia South America 2 Complentarity Index 2005 Central America Southeast Asia South America 2 South Asia Southern Africa Western Asia Caribbean North Africa South America 1 Central Western Africa PacificAfrica Eastern Africa 0 20 60 Rest of World 0 Complentarity Index 2005 80 80 Southern Africa 0 20 40 60 0 80 Complementarity Index 1995 20 40 60 80 Complementarity Index 1995 Western Asia 80 80 South Asia 60 40 Complentarity Index 2005 40 South Asia Southern Africa Western Asia South America 1 Caribbean Pacific Eastern Africa North Africa Western Africa Central Africa 0 20 Central America Southeast Asia South America 2 Eastern Asia 20 60 Southern Africa Rest of World South America 1 WesternSoutheast Asia Asia Central AfricaCentral America North Africa Western Africa Eastern Asia South Asia South America 2 Pacific Caribbean Eastern Africa 0 Complentarity Index 2005 Rest of World 0 20 40 60 80 0 20 Eastern Asia 60 80 40 Central America 60 Caribbean Eastern CentralAsia America Asia South Asia SouthSoutheast America 2 Western Asia Africa Southern North Africa Eastern Africa Pacific South America 1 Western Africa Central Africa 0 20 America 2 SouthernSouth Africa South Asia Western Caribbean South Asia America 1 North Africa Central PacificAfrica Western Africa Eastern Africa Rest of World 40 60 Southeast Asia Eastern Asia Rest of World 20 Complentarity Index 2005 80 80 Pacific 0 Complentarity Index 2005 40 Complementarity Index 1995 Complementarity Index 1995 0 20 40 Complementarity Index 1995 60 80 0 20 40 60 80 Complementarity Index 1995 South-South Trade: The Reality Check 31 4. Trade Complementarity Index vs. Export Intensity Index, 2005 4.1. Americas Central America (2005) South America 1 1 -.5 0 .5 60 50 South America 2 Southern Africa Western Asia North Africa Eastern Africa Pacific Western Central AfricaAfrica Caribbean South America 1 -.5 0 .5 Trade Intensity Index South America 1 (2005) South America 2 (2005) 20 Western Asia North Africa Pacific Eastern Africa Central Africa Western Africa -.5 Caribbean South America 1 0 .5 1 Trade Intensity Index Issues in New Geography of International Trade 70 60 50 40 Eastern Asia South America 2 Southern Africa SouthAsia Asia Western Caribbean South America 1 North Africa Central Africa Western Africa 30 30 South Asia Southern Africa Central America Southeast Asia 20 40 South America 2 Trade Complementarity Index 80 1 Rest of World Pacific Eastern Africa 10 70 60 50 Central America Eastern Asia Southeast Asia 10 Trade Complementarity Index Central America South Asia -1 1 Rest of World -1 32 Eastern Asia Southeast Asia Trade Intensity Index 80 -1 2 10 20 Eastern Africa Western Africa Central Africa Pacific 70 80 Caribbean Rest of World 40 South America 2 30 40 Southeast Asia South Asia Western Asia Eastern Asia Southern Africa North Africa 30 Central America 20 4 Trade Complementarity Index 70 Rest of World 50 60 3 10 Trade Complementarity Index 80 Caribbean (2005) -1 -.5 0 Trade Intensity Index .5 1 4.2. Africa South Asia Western Asia Caribbean South America 1 North Africa -.5 70 60 Eastern Asia 50 Caribbean Southern Africa Eastern Africa Western Asia North Africa South America 1 Western Africa Central Africa 0 .5 1 -1 -.5 0 .5 Trade Intensity Index Trade Intensity Index Western Africa (2005) Eastern Africa (2005) 1 10 Central Africa -1 -.5 0 .5 1 70 60 50 30 40 Southeast Asia South America Central America2 Eastern Asia Caribbean South Asia Southern Africa Western Asia South America 1 Pacific 20 20 Western Africa Trade Complementarity Index South America 2 South Asia Southern Africa Southeast Asia Central America Eastern Asia Caribbean North Africa South America 1 Eastern Africa Pacific Western Asia Rest of World North Africa Eastern Africa Central Africa Western Africa 10 80 70 60 50 Rest of World 30 40 South Asia 80 -1 Trade Complementarity Index South America 2 Southeast Asia Central America Pacific 10 20 Central Africa Eastern Africa Western Africa 40 40 30 PacificSouthern Africa Rest of World 30 South America 2 Southeast Asia Central America Eastern Asia 20 Trade Complementarity Index 70 50 60 Rest of World 10 Trade Complementarity Index 80 Central Africa (2005) 80 North Africa (2005) -1 -.5 0 .5 1 Trade Intensity Index Trade Intensity Index 60 70 Rest of World 50 Central America 40 Southeast Asia Eastern Asia South America 2 Western Asia South Asia Southern Africa 30 Caribbean 20 South America 1 North Africa Western Africa Pacific Central Africa Eastern Africa 10 Trade Complementarity Index 80 Southern Africa (2005) -1 -.5 0 .5 1 Trade Intensity Index South-South Trade: The Reality Check 33 4.3. Asia 20 South Asia Pacific -.5 0 .5 70 60 0 .5 1 30 Eastern Africa North Africa Western Africa Central Africa 60 50 Central America Pacific Caribbean Southern Africa Rest of World South America 1 Southeast Asia Western Asia Central Africa North Africa Western Africa Eastern South Asia South Asia America 2 Eastern Africa 10 20 South America 1 Caribbean Pacific 40 South Asia Western Asia 30 40 Eastern Asia 20 Trade Complementarity Index 70 60 50 Central America South America 2 Southeast Asia 70 80 South Asia (2005) 10 Trade Complementarity Index -.5 Western Asia (2005) Southern Africa -.5 0 .5 1 80 70 60 50 Rest of World 30 Central America Caribbean South America 2 Eastern Asia Southeast Asia South Asia 20 Western Asia North Africa Eastern Africa Southern Africa Pacific South America 1 Western Africa 10 Central Africa -1 -.5 0 -1 -.5 0 Trade Intensity Index Pacific (2005) 40 50 -1 Trade Intensity Index Trade Intensity Index Trade Complementarity Index 40 1 Rest of World -1 .5 1 Trade Intensity Index 34 South America 2 Southern Africa South Asia Western 1Asia South Caribbean America North Africa Central Africa Pacific Western Africa Eastern Africa Trade Intensity Index 80 -1 Southeast Asia Eastern Asia Central America 30 30 South America 2 Southern WesternAfrica Asia Caribbean North South America 1 Africa Central Africa Western Africa Eastern Africa Rest of World 20 40 Central America Trade Complementarity Index 50 Eastern Asia 10 70 60 Southeast Asia Rest of World 10 Trade Complementarity Index 80 Eastern Asia (2005) 80 Southeast Asia (2005) Issues in New Geography of International Trade .5 1 ANNEX IV – TABLES Annex Table 1.1. Matrix of export flows from the South 2005 Exports to to the world Total ($billions) RoW South Africa South Americas Total Asia RoW 5 876.07 2 004.57 245.77 376.91 1 381.88 7 880.64 South 2 033.87 1 699.84 92.60 165.02 1 442.22 3 733.71 286.10 Africa 199.41 86.69 27.13 9.33 50.23 Americas 402.96 152.62 9.40 94.27 48.95 555.58 1 431.50 1 460.53 56.07 61.42 1 343.03 2 892.03 7 909.94 3 704.41 338.38 541.93 2 824.10 11 614.35 RoW South Asia Total Total (per cent) South Africa Americas Total Asia RoW 50.59 17.26 2.12 3.25 11.90 67.85 South 17.51 14.64 0.80 1.42 12.42 32.15 Africa 1.72 0.75 0.23 0.08 0.43 2.46 Americas 3.47 1.31 0.08 0.81 0.42 4.78 12.33 12.58 0.48 0.53 11.56 24.90 68.10 31.90 2.91 4.67 24.32 100.00 Africa South Americas Asia Total 2000 Exports to to the world Total ($billions) RoW South Total Asia RoW 3 355.39 962.47 81.99 253.94 626.54 4 317.86 South 1 256.61 765.00 39.67 95.86 629.48 2 021.62 Africa 111.14 40.74 14.16 4.59 21.98 151.88 Americas 272.43 76.13 2.85 57.47 15.81 348.56 Asia 873.04 648.13 22.65 33.79 591.68 1 521.17 4 612.00 1 727.47 121.66 349.80 1 256.01 6 339.48 RoW South From World Total (per cent) South Africa Americas Total Asia RoW 52.93 15.18 1.29 4.01 9.88 68.11 South 19.82 12.07 0.63 1.51 9.93 31.89 Africa 1.75 0.64 0.22 0.07 0.35 2.40 Americas 4.30 1.20 0.04 0.91 0.25 5.50 13.77 10.22 0.36 0.53 9.33 24.00 72.75 27.25 1.92 5.52 19.81 100.00 Africa South Americas Asia From World 1995 Exports to to the world Total ($billions) RoW South Asia Total RoW 2 819.12 838.65 81.15 168.66 588.84 3 657.77 South 835.78 576.30 35.73 69.50 471.07 1 412.08 102.52 Africa 79.56 22.97 10.72 1.84 10.41 Americas 158.85 62.56 3.00 43.91 15.65 221.40 Asia 597.38 490.78 22.01 23.76 445.01 1 088.15 3 654.89 1 414.95 116.88 238.16 1 059.92 5 069.85 RoW South RoW 55.61 16.54 South 16.49 11.37 Africa 1.57 0.45 Americas 3.13 1.23 11.78 72.09 From World Total (per cent) Asia From World South Africa Total Americas Asia 1.60 3.33 11.61 72.15 0.70 1.37 9.29 27.85 0.21 0.04 0.21 2.02 0.06 0.87 0.31 4.37 9.68 0.43 0.47 8.78 21.46 27.91 2.31 4.70 20.91 100.00 Source: UNCTAD South-South Trade Information System. South-South Trade: The Reality Check 35 Annex Table 1.2. Exports to the South as percentage of each region’s total exports to the world 2005 Exports to to the world Total (per cent) RoW South RoW 74.56 South Africa South Americas Asia 25.44 3.12 4.78 17.54 100.00 54.47 45.53 2.48 4.42 38.63 100.00 69.70 30.30 9.48 3.26 17.56 100.00 Americas 72.53 27.47 1.69 16.97 8.81 100.00 Asia 49.50 50.50 1.94 2.12 46.44 100.00 68.10 31.90 2.91 4.67 24.32 100.00 Total 2000 Exports to to the world Total (per cent) RoW South South Africa Americas Asia Total RoW 77.71 22.29 1.90 5.88 14.51 100.00 South 62.16 37.84 1.96 4.74 31.14 100.00 Africa 73.18 26.82 9.33 3.02 14.47 100.00 Americas 78.16 21.84 0.82 16.49 4.54 100.00 Asia 57.39 42.61 1.49 2.22 38.90 100.00 72.75 27.25 1.92 5.52 19.81 100.00 From World 1995 Exports to to the world Total (per cent) RoW South South Africa Americas Asia Total RoW 77.07 22.93 2.22 4.61 16.10 100.00 South 59.19 40.81 2.53 4.92 33.36 100.00 77.60 22.40 10.45 1.79 10.16 100.00 Africa From World Americas 71.75 28.25 1.36 19.83 7.07 100.00 Asia 54.90 45.10 2.02 2.18 40.90 100.00 72.09 27.91 2.31 4.70 20.91 100.00 Source: UNCTAD South-South Trade Information System. 36 Total Africa Issues in New Geography of International Trade Annex Table 2.1. Breakdown of the origins of the South-South export (in per cent) 2005 2000 1995 Asia 86 85 85 Africa 5 5 4 Americas 9 10 11 Source: UNCTAD South-South Trade Information System. Annex Table 2.2. Breakdown of the destinations of the South-South export (in per cent) Exports to: 2005 Asia Africa Americas South 85 5 10 Asia 92 4 4 Africa 58 31 11 Americas 32 6 62 South 82 5 13 Asia 91 3 5 Africa 54 35 11 Americas 21 4 75 South 82 6 12 Asia 91 4 5 Africa 45 47 8 Americas 25 5 70 2000 1995 Source: UNCTAD South-South Trade Information System. South-South Trade: The Reality Check 37 38 Issues in New Geography of International Trade Base metals and products Textile and textile articles Chemicals and allied industries Plastics and rubber Optical and precision instruments Vehicles other than railway or tramway rolling stock Articles of stone, glass, precious stones and metals Prepared foodstuffs, beverages, etc. Vegetable products Wood and wood products Ores and minerals, excl. fuels Aircraft and spacecraft, ships, boats and floating structures Miscellaneous manufact. articles Live animals and products Fats and oils Raw hides and skins, leather, furs, etc. Special Uses Footwear, headgear, umbrellas, etc. Railway or tramway locomotives and equipment Arms and ammunition Works of art, etc 15 14 11 7 8 20 18 13 4 2 10 5 19 22 1 3 9 24 12 17 21 23 13.51 5.93 Agricultural (1+2+3+4) 6.95 41.37 Resource-based, excl. fuels (5+8+14) Textile and articles (11+12) Manufacturing (15+16+17+18+19+20+22) Source: UNCTAD South-South Trade Information System 100.00 1 699.8 total 0.01 0.01 0.17 0.55 0.79 0.89 0.92 1.02 1.12 1.13 1.57 1.72 1.96 2.03 2.66 2.98 3.01 4.73 5.50 6.41 Total US$ billion 11.44 Computers, nuclear reactors, boilers, machinery and mechanical appliances 7.22 20.65 Fuels 6 21.53 Total 16 Description Electrical machinery & equipm., telecomm equipm., electronics excl. computers and parts thereof 2005 total Total 23 21 17 24 12 19 3 5 9 1 22 20 13 4 18 2 10 8 7 14 11 15 6 16 2000 US$ billion Works of art, etc Arms and ammunition Railway or tramway locomotives and equipment Special Uses Footwear, headgear, umbrellas,etc. Aircraft and spacecraft, ships, boats and floating structures Fats and oils Ores and minerals, excl. fuels Raw hides and skins, leather, furs, etc. Live animals and products Miscellaneous manufacturing articles Optical and precision instruments Articles of stone, glass, precious stones and metals Prepared foodstuffs,beverages,etc. Vehicles other than railway or tramway rolling stock Vegetable products Wood and wood products Plastics and rubber Chemicals and allied industries Base metals and products Textile and textile articles Computers, nuclear reactors, boilers, machinery and mechanical appliances Fuels Electrical machinery and equipm., telecomm equipm., electronics excl. computers and parts thereof Description 7.17 11.99 11.44 40.50 765.0 100.00 0.01 0.01 0.23 0.47 0.73 0.89 0.97 0.99 1.27 1.27 1.44 2.04 2.11 2.38 2.54 2.55 2.76 4.92 5.63 6.08 10.71 11.33 16.64 22.03 Total total Total 23 21 17 24 12 5 19 9 1 22 3 20 13 18 2 10 4 8 7 15 14 6 11 16 1995 US$ billion Works of art, etc Arms and ammunition Railway or tramway locomotives and equipment Special Uses Footwear, headgear, umbrellas,etc. Ores and minerals, excl. fuels Aircraft and spacecraft, ships, boats and floating structures Raw hides & skins, leather, furs, etc. Live animals and products Miscellaneous manufact. articles Fats and oils Optical and precision instruments Articles of stone, glass, precious stones and metals Vehicles other than railway or tramway rolling stock Vegetable products Wood and wood products Prepared foodstuffs, beverages, etc. Plastics and rubber 10.14 16.52 14.04 35.23 576.3 100.00 0.01 0.01 0.22 0.65 1.04 1.18 1.48 1.58 1.58 1.63 1.84 2.07 2.59 2.75 3.12 3.52 3.59 5.84 6.19 9.45 Computers, nuclear reactors, boilers, machinery and mechanical appliances Chemicals and allied industries 9.50 9.52 13.00 17.62 Total Base metals and products Fuels Textile and textile articles Electrical machinery and equipm., telecomm equipm., electronics excl. computers and parts thereof Description Annex Table 3.1. Ranking of sectors in South-South trade (in per cent) Annex Table 3.2. Ranking of sectors exported from each region Export values (US$ billion), 2005 Export destinations Description Asia 16 6 SOUTH Africa Americas Asia Share in total S-S exports (%) RoW TOTAL Electrical machinery & equipm., telecomm equipm., electronics excl. computers and parts thereof 357.77 5.75 13.91 338.11 24.5 21.0 264.46 622.23 Fuels 277.03 3.07 3.42 270.54 19.0 16.3 273.37 550.40 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 185.18 5.32 7.21 172.64 12.7 10.9 195.90 381.07 11 Textile and textile articles 102.00 8.66 7.92 85.42 7.0 6.0 168.12 270.12 14 Base metals and products 96.21 4.55 2.65 89.00 6.6 5.7 69.64 165.85 7 Chemicals & allied industries 77.49 3.28 3.40 70.81 5.3 4.6 45.82 123.31 8 Plastics and rubber 72.48 3.57 3.90 65.01 5.0 4.3 45.55 118.03 20 Optical and precision instruments 50.33 0.60 1.43 48.29 3.4 3.0 37.15 87.48 13 Articles of stone, glass, precious stones & metals 41.53 1.05 0.80 39.68 2.8 2.4 41.12 82.65 18 Vehicles other than railway or tramway rolling stock 36.08 4.96 4.25 26.86 2.5 2.1 56.66 92.74 10 Wood and wood products 21.15 1.03 0.37 19.75 1.4 1.2 20.82 41.96 2 Vegetable products 19.52 3.00 0.43 16.09 1.3 1.1 14.77 34.28 4 Prepared foodstuffs, beverages, etc. 18.19 0.96 0.43 16.80 1.2 1.1 21.69 39.88 22 Miscellaneous manufact. articles 17.90 1.00 1.78 15.12 1.2 1.1 60.43 78.33 19 Aircraft & spacecraft, ships, boats & floating structures 17.47 4.13 4.37 8.97 1.2 1.0 17.40 34.87 99 24.59 Special Uses (HS2 98 and 99) 13.20 1.46 2.44 9.30 0.9 0.8 11.39 9 Raw hides & skins, leather, furs, etc. 13.17 0.40 0.60 12.17 0.9 0.8 20.78 33.94 5 Ores and minerals, excl. fuels 11.99 0.53 0.09 11.36 0.8 0.7 8.18 20.17 3 Fats and oils 10.55 1.21 0.15 9.20 0.7 0.6 5.66 16.22 1 Animals and animal products 9.84 0.35 0.11 9.37 0.7 0.6 14.28 24.12 12 Footwear, headgear, umbrellas, etc. 8.56 1.15 1.51 5.90 0.6 0.5 33.19 41.75 17 Railway or tramway locomotives and equipment 2.65 0.03 0.23 2.39 0.2 0.2 4.10 6.74 23 Works of art, etc 0.16 0.01 0.01 0.14 0.0 0.0 0.88 1.04 21 Arms and ammunition 0.11 0.01 0.01 0.10 0.0 0.0 0.14 0.26 1 460.53 56.07 61.42 1 343.03 100.0 85.9 1 431.50 2 892.03 45.7 39.3 7.6 6.5 120.38 Asia Total Manufacturing (15+16+17+18+19+20+22) Textile and articles (11+12) Chemical & allied (7) Americas Share in region's S-S exports (%) 5.3 4.6 Resource-based, excl. fuels (5+8+10+13+14) 16.7 14.3 Fuels (6) 19.0 16.3 Other (9,21,99) 1.8 1.6 Agricultural (1+2+3+4) 4.0 3.4 Fuels 23.57 0.56 18.18 4.82 15.4 1.4 96.81 14 6 Base metals and products 19.45 0.78 9.68 8.99 12.7 1.1 29.37 48.82 18 Vehicles other than railway or tramway rolling stock 13.52 0.93 11.79 0.80 8.9 0.8 34.47 47.99 4 Prepared foodstuffs,beverages,etc. 13.29 2.04 5.74 5.51 8.7 0.8 20.53 33.82 5 Ores and minerals, excl. fuels 11.86 0.50 2.86 8.50 7.8 0.7 13.16 25.02 7 Chemicals & allied industries 11.39 0.28 9.62 1.49 7.5 0.7 11.85 23.25 .../... South-South Trade: The Reality Check 39 Annex Table 3.2. (continued) Export values (US$ billion), 2005 Export destinations Description 2 Vegetable products SOUTH Africa Americas Asia Share in total S-S exports (%) RoW TOTAL 10.74 1.08 3.76 5.90 7.0 0.6 23.72 34.46 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 7.68 0.43 5.63 1.62 5.0 0.5 32.98 40.66 16 Electrical machinery & equipm., telecomm equipm., electronics excl. computers and parts thereof 7.15 0.12 5.76 1.26 4.7 0.4 54.22 61.37 8 Plastics and rubber 6.68 0.20 6.02 0.47 4.4 0.4 6.91 13.60 1 Animals and animal products 6.17 1.15 2.57 2.45 4.0 0.4 13.65 19.82 Wood and wood products 5.87 0.21 3.98 1.68 3.8 0.3 9.20 15.07 10 3 Fats and oils 4.71 0.74 1.34 2.63 3.1 0.3 1.12 5.84 Textile and textile articles 3.89 0.03 3.04 0.81 2.5 0.2 15.26 19.15 Raw hides & skins, leather, furs, etc. 1.65 0.04 0.43 1.18 1.1 0.1 2.14 3.80 13 Articles of stone, glass, precious stones & metals 1.55 0.16 1.23 0.16 1.0 0.1 11.79 13.34 22 Miscellaneous manufact. articles 0.90 0.06 0.80 0.03 0.6 0.1 8.24 9.14 19 Aircraft & spacecraft, ships, boats & floating structures 0.86 0.03 0.38 0.45 0.6 0.1 3.73 4.59 12 Footwear, headgear, umbrellas,etc. 0.62 0.02 0.54 0.06 0.4 0.0 1.98 2.60 20 Optical and precision instruments 0.60 0.02 0.49 0.09 0.4 0.0 8.85 9.45 17 Railway or tramway locomotives and equipment 0.22 0.01 0.21 0.00 0.1 0.0 0.65 0.87 99 Special Uses (HS2 98 and 99) 0.18 0.00 0.17 0.01 0.1 0.0 2.20 2.38 21 Arms and ammunition 0.05 0.00 0.02 0.02 0.0 0.0 0.09 0.14 23 Works of art, etc 0.00 0.00 0.00 0.00 0.0 0.0 0.03 0.04 152.62 9.40 94.27 48.95 100.0 9.0 402.96 555.58 20.3 1.8 3.0 0.3 11 9 Americas Total Manufacturing (15+16+17+18+19+20+22) Textile and articles (11+12) Chemical & allied(7) 7.5 0.7 Resource-based, excl. fuels (5+8+10+13+14) 29.8 2.7 Fuels (6) 15.4 1.4 1.2 0.1 22.9 2.1 Other (9, 21,99) Agricultural (1+2+3+4) Africa Share in region's S-S exports (%) 6 14 7 2 Fuels 50.49 9.80 7.65 33.04 58.2 3.0 122.97 173.46 Base metals and products 6.99 2.72 0.29 3.98 8.1 0.4 8.73 15.72 Chemicals & allied industries 4.64 2.00 0.47 2.17 5.4 0.3 3.77 8.41 Vegetable products 3.14 1.64 0.03 1.47 3.6 0.2 5.39 8.53 Textile and textile articles 2.99 0.92 0.04 2.04 3.5 0.2 9.63 12.62 4 Prepared foodstuffs,beverages,etc. 2.98 1.88 0.10 1.00 3.4 0.2 7.17 10.15 5 Ores and minerals, excl. fuels 2.84 0.90 0.14 1.80 3.3 0.2 3.91 6.75 11 10 Wood and wood products 2.26 1.18 0.03 1.05 2.6 0.1 2.63 4.90 13 Articles of stone, glass, precious stones & metals 2.05 1.02 0.01 1.03 2.4 0.1 14.30 16.35 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 1.55 1.02 0.12 0.40 1.8 0.1 3.16 4.70 1 Animals and animal products 1.29 0.68 0.01 0.60 1.5 0.1 2.39 3.68 8 Plastics and rubber 1.21 0.92 0.02 0.27 1.4 0.1 1.03 2.24 .../... 40 Issues in New Geography of International Trade Annex Table 3.2. (continued) Export values (US$ billion), 2005 Export destinations Description SOUTH Africa Americas Asia Share in region's S-S exports (%) Share in total S-S exports (%) RoW TOTAL 18 Vehicles other than railway or tramway rolling stock 1.01 0.69 0.03 0.29 1.2 0.1 4.38 5.39 16 Electrical machinery & equipm., telecomm equipm., electronics excl. computers and parts thereof 0.99 0.60 0.02 0.36 1.1 0.1 3.45 4.43 19 Aircraft & spacecraft, ships, boats & floating structures 0.88 0.21 0.34 0.33 1.0 0.1 1.70 2.59 3 Fats and oils 0.34 0.32 0.00 0.02 0.4 0.0 0.66 1.01 9 0.72 Raw hides & skins, leather, furs, etc. 0.28 0.07 0.01 0.19 0.3 0.0 0.44 22 Miscellaneous manufact. articles 0.25 0.20 0.00 0.05 0.3 0.0 0.73 0.98 20 Optical and precision instruments 0.20 0.16 0.00 0.04 0.2 0.0 0.39 0.60 99 Special Uses (HS2 98 and 99) 0.11 0.05 0.00 0.05 0.1 0.0 1.62 1.73 12 Footwear, headgear, umbrellas,etc. 0.11 0.10 0.00 0.01 0.1 0.0 0.73 0.84 17 Railway or tramway locomotives and equipment 0.07 0.02 0.00 0.04 0.1 0.0 0.14 0.21 21 Arms and ammunition 0.01 0.01 0.00 0.00 0.0 0.0 0.03 0.04 23 Works of art, etc 0.01 0.00 0.00 0.00 0.0 0.0 0.05 0.06 0.0 0.0 100.0 5.1 199.41 286.10 5.7 0.3 2 033.9 3 733.7 Africa Total 86.69 27.13 9.33 50.23 Manufacturing (15+16+17+18+19+20+22) Textile and articles (11+12) 3.6 0.2 Chemical & allied (7) 5.4 0.3 Resource-based, excl. fuels (5+8+10+13+14) 17.7 0.8 Fuels (6) 58.2 3.0 Other (9, 21,99) 0.5 0.0 Agricultural (1+2+3+4) 8.9 0.5 Grand Total 1 699.8 92.6 165.0 1 442.2 Asia Americas Africa 45.7 20.3 5.7 Textile and articles 7.6 3.0 3.6 Chemical & allied 5.3 7.5 5.4 Resource-based, excl. Fuels 16.7 29.8 17.7 Fuels 58.2 Source: UNCTAD South-South Trade Information System. The values include re-import and re-export. Manufacturing 19.0 15.4 Agricultural 1.8 1.2 0.5 Other 4.0 22.9 8.9 100.0 100.0 100.0 South-South Trade: The Reality Check 41 Annex Table 4.1. Network of exports: Top 10 Exported Sectors Asia to Africa 1 (per cent) Africa to Asia (per cent) 11 Textile and textile articles 15.44 1 6 Fuels 2 16 Electrical machinery & equipm., telecomm equipm., electronics excl. computers and parts thereof 10.26 2 14 Base metals and products 7.91 3 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 9.48 3 7 Chemicals & allied industries 4.32 4 18 Vehicles other than railway or tramway rolling stock 8.85 4 11 Textile and textile articles 4.06 5 14 Base metals and products 8.12 5 5 Ores and minerals, excl. fuels 3.58 6 19 Aircraft & spacecraft, ships, boats & floating structures 7.36 6 2 Vegetable products 2.93 7 8 Plastics and rubber 6.36 7 10 Wood and wood products 2.09 8 7 Chemicals & allied industries 5.86 8 13 Articles of stone, glass, precious stones & metals 2.04 9 6 Fuels 5.47 9 4 Prepared foodstuffs,beverages,etc. 2.00 2 Vegetable products 5.35 10 1 Animals and animal products 10 Total of the above Coefficient of Variation 82.55 Total of the above 0.37 Asia to Americas Coefficient of Variation 65.78 1.19 95.90 2.07 Americas to Asia 1 16 Electrical machinery & equipm., telecomm equipm., electronics excl. computers and parts thereof 22.64 1 14 Base metals and products 18.37 2 11 Textile and textile articles 12.89 2 5 Ores and minerals, excl. fuels 17.36 3 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 11.75 3 2 Vegetable products 12.06 4 19 Aircraft & spacecraft, ships, boats & floating structures 7.12 4 4 Prepared foodstuffs, beverages, etc. 11.26 5 18 Vehicles other than railway or tramway rolling stock 6.93 5 6 Fuels 9.85 6 8 Plastics and rubber 6.35 6 3 Fats and oils 5.37 7 6 Fuels 5.56 7 1 Animals and animal products 5.00 8 7 Chemicals & allied industries 5.53 8 10 Wood and wood products 3.43 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 3.32 7 Chemicals & allied industries 9 10 14 Base metals and products 99 Special Uses (HS2 98 and 99) Total of the above Coefficient of Variation 4.32 9 3.97 10 87.06 Total of the above 0.66 Americas to Africa Coefficient of Variation 3.05 89.06 0.65 Africa to Americas 1 4 Prepared foodstuffs,beverages,etc. 21.71 1 6 Fuels 81.97 2 1 Animals and animal products 12.26 2 7 Chemicals & allied industries 5.06 3.63 11.47 3 19 Aircraft & spacecraft, ships, boats & floating structures Vehicles other than railway or tramway rolling stock 9.90 4 14 Base metals and products 3.16 14 Base metals and products 8.26 5 5 Ores and minerals, excl. fuels 1.49 6 3 Fats and oils 7.92 6 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 1.28 7 6 Fuels 6.00 7 4 Prepared foodstuffs,beverages,etc. 1.08 8 5 Ores and minerals, excl. fuels 5.28 8 11 Textile and textile articles 0.39 9 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 4.54 9 10 Wood and wood products 0.34 10 7 Chemicals & allied industries 2.96 10 18 Vehicles other than railway or tramway rolling stock 0.32 3 2 Vegetable products 4 18 5 Total of the above Coefficient of Variation 90.30 0.60 Total of the above Coefficient of Variation 98.71 2.57 .../... 42 Issues in New Geography of International Trade Annex Table 4.1. (continued) Asia to Asia (per cent) Asia to RoW (per cent) 1 16 Electrical machinery & equipm., telecomm equipm., electronics excl. computers and parts thereof 25.18 1 6 Fuels 19.10 2 6 Fuels 20.14 2 16 Electrical machinery & equipm., telecomm equipm., electronics excl. computers and parts thereof 18.47 3 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 12.85 3 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 13.68 4 14 Base metals and products 6.63 4 11 Textile and textile articles 11.74 5 11 Textile and textile articles 6.36 5 14 Base metals and products 4.87 6 7 Chemicals & allied industries 5.27 6 22 Miscellaneous manufact. articles 4.22 7 8 Plastics and rubber 4.84 7 18 Vehicles other than railway or tramway rolling stock 3.96 8 20 Optical and precision instruments 3.60 8 7 Chemicals & allied industries 3.20 9 13 Articles of stone, glass, precious stones & metals 2.95 9 8 Plastics and rubber 3.18 10 18 Vehicles other than railway or tramway rolling stock 2.00 10 13 Articles of stone, glass, precious stones & metals 2.87 Total of the above Coefficient of Variation 89.82 Americas to Americas 1 6 Fuels Total of the above 0.88 Coefficient of Variation 85.30 0.77 Americas to RoW 19.29 1 6 Fuels 24.03 13.45 2 18 Vehicles other than railway or tramway rolling stock 12.51 2 16 Electrical machinery & equipm., telecomm equipm., electronics excl. computers and parts thereof 3 14 Base metals and products 10.27 3 18 Vehicles other than railway or tramway rolling stock 8.55 4 7 Chemicals & allied industries 10.21 4 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 8.18 5 8 Plastics and rubber 6.39 5 14 Base metals and products 7.29 6 16 Electrical machinery & equipm., telecomm equipm., electronics excl. computers and parts thereof 6.12 6 2 Vegetable products 5.89 7 4 Prepared foodstuffs,beverages,etc. 6.08 7 4 Prepared foodstuffs,beverages,etc. 5.09 8 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 5.97 8 11 Textile and textile articles 3.79 9 10 Wood and wood products 4.22 9 1 Animals and animal products 3.39 10 2 Vegetable products 3.98 10 5 Ores and minerals, excl. fuels 3.27 Total of the above Coefficient of Variation 85.04 Total of the above 0.55 Africa to Africa Coefficient of Variation 82.93 0.76 Africa to RoW 1 6 Fuels 36.13 1 6 Fuels 2 14 Base metals and products 10.03 2 13 Articles of stone, glass, precious stones & metals 3 7 Chemicals & allied industries 7.38 3 11 Textile and textile articles 4.83 4 4 Prepared foodstuffs,beverages,etc. 6.93 4 14 Base metals and products 4.38 5 2 Vegetable products 6.05 5 4 Prepared foodstuffs,beverages,etc. 3.60 6 10 Wood and wood products 4.35 6 2 Vegetable products 2.70 7 15 Computers, nuclear reactors, boilers, machinery & mechanical appliances 3.77 7 18 Vehicles other than railway or tramway rolling stock 2.20 8 13 Articles of stone, glass, precious stones & metals 3.74 8 5 Ores and minerals, excl. fuels 1.96 9 8 Plastics and rubber 3.40 9 7 Chemicals & allied industries 1.89 10 11 Textile and textile articles 3.38 10 16 Electrical machinery & equipm., telecomm equipm., electronics excl. computers and parts thereof 1.73 Total of the above Coefficient of Variation 85.16 1.17 Total of the above Coefficient of Variation South-South Trade: The Reality Check 61.67 7.17 92.12 2.01 43 Annex Table 5.1. Breakdown of exports into sub-regions Values of export ($ billions) Distribution of exports (percentage) 2005 Reporter Region Asia 2000 Reporter Subregion Eastern Asia Pacific South Asia Americas Africa Total South Rest of World TOTAL 767.83 764.35 1 532.18 1.12 4.09 5.21 Rest of World TOTAL Eastern Asia 45.58 54.42 100.00 Pacific 15.15 84.85 100.00 65.29 70.88 136.17 South Asia 34.78 65.22 100.00 288.77 650.09 Southeast Asia 47.68 52.32 100.00 Western Asia 264.97 303.41 568.38 Western Asia 33.30 66.70 100.00 Caribbean 100.00 4.00 11.58 15.58 26.37 73.63 Central America Caribbean 21.79 210.55 232.34 Central America 6.28 93.72 100.00 South America 1 25.88 81.85 107.73 South America 1 27.27 72.73 100.00 South America 2 100.94 98.98 199.92 South America 2 45.34 54.66 100.00 7.52 14.12 21.63 Central Africa 37.41 62.59 100.00 Central Africa 5.05 4.39 9.44 North Africa 21.96 90.31 112.27 Southern Africa 31.64 52.95 Western Africa 20.52 37.64 1 699.84 2 033.87 3 733.71 Americas Africa Eastern Africa 46.95 53.05 100.00 North Africa 17.02 82.98 100.00 84.59 Southern Africa 29.49 70.51 100.00 58.17 Western Africa 33.15 66.85 100.00 2000 Total 38.61 61.39 100.00 Total/South 100.00 Distribution of exports (percentage) Distribution of exports (percentage) 1995 2005 Reporter Region Reporter Subregion Asia Eastern Asia Total South-South 50.11 Rest of World 49.89 TOTAL 100.00 Reporter Region Reporter Subregion Asia Eastern Asia Total South-South 47.82 Rest of World 52.18 TOTAL 100.00 Pacific 21.50 78.50 100.00 Pacific 15.75 84.25 100.00 South Asia 47.95 52.05 100.00 South Asia 34.46 65.54 100.00 Southeast Asia 55.58 44.42 100.00 Southeast Asia 47.69 52.31 100.00 Western Asia 46.62 53.38 100.00 Western Asia 33.75 66.25 100.00 Caribbean Caribbean 100.00 25.70 74.30 100.00 26.43 73.57 Central America 9.38 90.62 100.00 Central America 9.25 90.75 100.00 South America 1 24.02 75.98 100.00 South America 1 30.36 69.64 100.00 South America 2 50.49 49.51 100.00 South America 2 46.57 53.43 100.00 Central Africa 14.13 85.87 100.00 Central Africa 34.75 65.25 100.00 Americas Africa Eastern Africa 53.51 46.49 100.00 Eastern Africa 38.92 61.08 100.00 North Africa 19.56 80.44 100.00 North Africa 15.72 84.28 100.00 Southern Africa 37.40 62.60 100.00 Southern Africa 26.50 73.50 100.00 Western Africa 35.28 64.72 100.00 Western Africa 23.97 76.03 100.00 100.00 1995 Total 40.81 59.19 100.00 Total/South 100.00 2005 Total 45.53 Total/South 100.00 54.47 Source: UNCTAD South-South Trade Information System. 44 Total South-South 361.32 2005 Total Africa Asia Reporter Subregion Southeast Asia Eastern Africa Americas Reporter Region Issues in New Geography of International Trade Annex Table 5.2. The breakdown of destinations of the South-South exports 2005 1 2 3 4 5 Eastern Asia RoW Eastern Asia Southeast Asia Western Asia South Asia Pacific RoW Eastern Asia Southeast Asia Pacific South Asia South Asia RoW Western Asia Eastern Asia Southeast Asia South Asia Southeast Asia RoW Southeast Asia Eastern Asia South Asia Western Asia Western Asia RoW Eastern Asia Western Asia Southeast Asia South Asia Caribbean RoW Caribbean South America 1 Eastern Asia Central America Central America RoW Central America South America 1 Caribbean Eastern Asia South America 1 RoW South America 1 Eastern Asia South America 2 Central America South America 2 RoW South America 2 Eastern Asia South America 1 Central America Western Africa Central Africa RoW Eastern Asia Caribbean Southeast Asia Eastern Africa RoW Eastern Africa Southern Africa Western Asia South Asia North Africa RoW Western Asia Eastern Asia North Africa South America 2 Southern Africa RoW Eastern Asia Southern Africa Eastern Africa Southeast Asia Western Africa RoW Western Africa South Asia South America 2 Southern Africa 2005 6 7 8 9 10 Eastern Asia Central America South America 2 Southern Africa Western Africa North Africa Pacific Southern Africa Western Africa Central America Caribbean South America 2 South Asia Southern Africa Western Africa North Africa South America 2 Eastern Africa Southeast Asia Central America South America 2 Southern Africa Western Africa North Africa Western Asia North Africa Eastern Africa Southern Africa South America 2 Western Africa Caribbean South America 2 Western Africa South Asia Western Asia Southeast Asia Central America South America 2 Southeast Asia South Asia Western Asia North Africa South America 1 Caribbean Western Asia Southeast Asia South Asia Southern Africa South America 2 Western Asia Southeast Asia Caribbean North Africa South Asia Central Africa Central Africa Southern Africa South Asia North Africa South America 2 Eastern Africa North Africa Eastern Asia Central Africa Southeast Asia Western Africa North Africa South Asia Southeast Asia Western Africa Caribbean Central America Southern Africa Western Asia South Asia South America 2 Western Africa Central Africa Western Africa Eastern Asia Southeast Asia Central Africa Central America South America 1 2005 Eastern Asia 11 12 13 14 15 South America 1 Caribbean Eastern Africa Central Africa Pacific Pacific Western Asia South America 1 Eastern Africa North Africa Central Africa South Asia Central America South America 1 Caribbean Central Africa Pacific Southeast Asia Pacific Caribbean South America 1 Eastern Africa Central Africa Western Asia Central America South America 1 Caribbean Central Africa Pacific Caribbean North Africa Southern Africa Central Africa Eastern Africa Pacific Central America Southern Africa Western Africa Eastern Africa Central Africa Pacific South America 1 North Africa Western Africa Eastern Africa Central Africa Pacific South America 2 Southern Africa Western Africa Eastern Africa Central Africa Pacific Central Africa Western Asia Eastern Africa Central America South America 1 Pacific Eastern Africa South America 1 Central America South America 2 Caribbean Pacific North Africa Eastern Africa Central Africa Southern Africa South America 1 Pacific Southern Africa North Africa Central America South America 1 Caribbean Pacific Western Africa North Africa Western Asia Caribbean Eastern Africa Pacific Asia Africa Americas Source: UNCTAD South-South Trade Information System. South-South Trade: The Reality Check 45 Annex Table 5.3. Top 20 countries according to the 2005 value of exports to the South Exports to South (2005, US$ million) Rank Share of S-S Exports (2005, %) Share in total S-S exports (%) Cumulative 1 China 317 066.6 41.6 194.80 18.70 18.70 2 Hong Kong, China 175 874.5 60.2 360.00 10.30 29.00 3 Korea, Rep. of 157 143.0 55.3 93.80 9.20 38.20 4 Singapore 151 992.9 66.2 168.10 8.90 47.10 5 Saudi Arabia 117 097.3 64.8 132.40 6.90 54.00 6 Taiwan Province of China 115 866.0 61.2 2 321.70 6.80 60.80 7 Malaysia 76 326.6 54.1 132.90 4.50 65.30 8 UAE 60 708.9 58.7 110.30 3.60 68.90 9 Thailand 56 245.9 51.1 207.30 3.30 72.20 10 Brazil 55 638.5 47.9 132.70 3.30 75.50 11 India 54 744.9 52.9 198.80 3.20 78.70 12 Indonesia 43 693.6 51.0 350.90 2.60 81.30 13 Kuwait 28 386.2 55.1 142.00 1.70 83.00 14 Argentina 26 075.5 65.0 434.30 1.50 84.50 15 Philippines 18 679.0 45.3 92.40 1.10 85.60 16 Chile 16 364.3 42.4 261.40 1.00 86.60 17 South Africa 15 474.5 32.9 174.40 0.90 87.50 18 Mexico 14 658.5 6.8 91.60 0.90 88.40 19 Turkey 14 046.9 19.1 157.90 0.80 89.20 20 Nigeria 12 968.2 31.9 237.90 0.80 90.00 21 Iran, Islamic Rep. of 12 544.8 20.9 90.69 0.74 90.74 22 Angola 12 090.7 53.0 91.40 0.71 91.45 23 Qatar 11 523.3 44.7 92.08 0.68 92.13 24 Viet Nam 9 373.6 30.2 92.63 0.55 92.68 25 Colombia 7 991.0 37.7 93.10 0.47 93.15 26 Algeria 7 459.5 15.5 93.54 0.44 93.59 27 Pakistan 7 065.0 44.0 93.95 0.42 94.00 28 Venezuela, Bolivarian Rep. of 6 311.1 11.4 94.32 0.37 94.37 29 Peru 6 289.7 36.8 94.69 0.37 94.74 30 Yemen 4 578.3 81.6 94.96 0.27 95.01 31 Iraq 4 093.3 16.5 95.20 0.24 95.25 32 Oman 3 800.7 18.7 95.43 0.22 95.48 33 Egypt 3 774.5 35.5 95.65 0.22 95.70 34 Sudan 3 767.4 86.5 95.87 0.22 95.92 35 Libyan Arab Jamahiriya 3 579.3 12.8 96.08 0.21 96.13 36 Syrian Arab Republic 3 184.9 45.8 96.27 0.19 96.32 37 Congo, Rep. 3 179.6 71.3 96.46 0.19 96.51 38 Ecuador 3 159.5 32.0 96.64 0.19 96.69 39 Cote d'Ivoire 2 938.9 40.5 96.82 0.17 96.87 40 Trinidad and Tobago 2 933.7 30.5 96.99 0.17 97.04 41 Costa Rica 2 690.2 37.6 97.15 0.16 97.20 42 Brunei Darussalam 2 569.2 42.3 97.30 0.15 97.35 43 Equatorial Guinea 2 503.9 40.0 97.44 0.15 97.49 44 Jordan 2 451.1 57.3 97.59 0.14 97.64 45 Guatemala 2 174.3 40.4 97.72 0.13 97.77 46 Bolivia 1 948.7 69.7 97.83 0.11 97.88 47 Kenya 1 938.0 57.8 97.95 0.11 98.00 48 Morocco 1 890.1 17.8 98.06 0.11 98.11 49 Uruguay 1 667.9 49.0 98.15 0.10 98.20 50 Sri Lanka 1 565.3 25.4 98.25 0.09 98.30 Asia Africa Source: UNCTAD South-South Trade Information System 46 Growth of S-S exports (1995-2005, %) Issues in New Geography of International Trade Americas Annex Table 6.1. Normalized RCA across subregions (HS 4-digit) Number of exported items Reporter 1995 2005 % growth 1995-2005 Number of export items with 0<NRCA<1 1995 2005 % growth 1995-2005 Share of items with NRCA>0 in total export 1995 2005 Eastern Asia 1 235 1 236 0.1 669 667 -0.3 54.2 54.0 Southeast Asia 1 236 1 237 0.1 351 384 9.4 28.4 31.0 Pacific 509 890 74.9 63 125 98.4 12.4 14.0 South Asia 1 172 1 226 4.6 371 475 28.0 31.7 38.7 Western Asia 1 198 1 234 3.0 222 189 -14.9 18.5 15.3 866 1 069 23.4 181 182 0.6 20.9 17.0 Caribbean Central America 1 147 1 188 3.6 402 425 5.7 35.0 35.8 South America 1 1 113 1 177 5.8 257 320 24.5 23.1 27.2 South America 2 1 192 1 220 2.3 405 398 -1.7 34.0 32.6 Central Africa 443 599 35.2 40 28 -30.0 9.0 4.7 Eastern Africa 1 031 1 125 9.1 221 301 36.2 21.4 26.8 North Africa 937 1 043 11.3 221 170 -23.1 23.6 16.3 Western Africa 932 1 016 9.0 129 107 -17.1 13.8 10.5 1 205 1 230 2.1 442 426 -3.6 36.7 34.6 Southern Africa Source: UNCTAD South-South Trade Information System. South-South Trade: The Reality Check 47 Annex Table 6.2. Exports with revealed comparative advantage in 2005 (the number of product groups with the normalized RCA value > 0) Country Primary commodities (incl. Agri) Manufactures labour-intensive or resource-based Manufactures low skill Manufactures medium skill Manufactures high skill Energy and others Unclassified products Total Central Africa 20 1 2 0 3 1 1 28 Western Africa 55 11 10 5 13 5 8 107 Pacific 62 16 15 5 15 2 10 125 North Africa 90 21 16 5 27 8 3 170 Caribbean 65 28 19 9 36 6 19 182 Western Asia 85 48 14 8 23 7 4 189 Eastern Africa 149 52 24 9 41 6 20 301 South America1 117 67 32 16 67 8 13 320 Southeast Asia 116 52 29 63 88 9 27 384 South America2 152 61 41 50 79 4 11 398 Central America 143 70 38 37 112 3 22 425 Southern Africa 161 65 49 38 80 9 24 426 South Asia 155 104 61 46 82 7 20 475 78 187 89 90 170 8 45 667 1 448 783 439 381 836 83 227 4 197 Eastern Asia TOTAL (As % share in a subregion's total number of exported product grouops) Primary commodities (incl. Agri) Manufactures labour-intensive or resource-based Manufactures low skill Manufactures high skill Energy and others Unclassified products Total Central Africa 71.4 3.6 7.1 0.0 10.7 3.6 3.6 100.0 North Africa 52.9 12.4 9.4 2.9 15.9 4.7 1.8 100.0 Western Africa 51.4 10.3 9.3 4.7 12.1 4.7 7.5 100.0 Eastern Africa 49.5 17.3 8.0 3.0 13.6 2.0 6.6 100.0 Southern Africa 37.8 15.3 11.5 8.9 18.8 2.1 5.6 100.0 Africa AVERAGE 52.6 11.7 9.1 3.9 14.2 3.4 5.0 100.0 Central America 33.6 16.5 8.9 8.7 26.4 0.7 5.2 100.0 South America1 36.6 20.9 10.0 5.0 20.9 2.5 4.1 100.0 South America2 38.2 15.3 10.3 12.6 19.8 1.0 2.8 100.0 Caribbean 35.7 15.4 10.4 4.9 19.8 3.3 10.4 100.0 America AVERAGE 36.0 17.0 9.9 7.8 21.7 1.9 5.6 100.0 Eastern Asia 11.7 28.0 13.3 13.5 25.5 1.2 6.7 100.0 Southeast Asia 30.2 13.5 7.6 16.4 22.9 2.3 7.0 100.0 South Asia 32.6 21.9 12.8 9.7 17.3 1.5 4.2 100.0 Western Asia 45.0 25.4 7.4 4.2 12.2 3.7 2.1 100.0 Pacific 49.6 12.8 12.0 4.0 12.0 1.6 8.0 100.0 Asia AVERAGE 33.8 20.3 10.6 9.6 18.0 2.1 5.6 100.0 TOTAL AVERAGE 41.2 16.3 9.9 7.0 17.7 2.5 5.4 100.0 Source: UNCTAD South-South Trade Information System. 48 Manufactures medium skill Issues in New Geography of International Trade Annex Table 6.3.a. Top 10 subregions, ranked according to the height of comparative advantage in 2005 (Aggregate of "positive (>0) values of normalized RCAs in each product sector, for each subregion) Sector Agriculture Agriculture Average Natural-resource based Natural-resource based Average Base metal & products Base metal & products Average Chemical and allied Chemical and allied Average Textiles & Articles Textiles & Articles Average Manufactured Rank Sub-region 1995 2005 1 2 3 4 5 6 7 8 9 10 Eastern Africa South America 2 Central America South Asia Southern Africa South America 1 North Africa Pacific Caribbean Western Asia 1 2 3 4 5 6 7 8 9 10 Southern Africa South America 1 Central America Eastern Africa South Asia South America 2 Southeast Asia Caribbean North Africa Eastern Asia 1 2 3 4 5 6 7 8 9 10 Southern Africa South Asia Central America South America 1 Eastern Asia Eastern Africa South America 2 Caribbean Southeast Asia North Africa 1 2 3 4 5 6 7 8 9 10 Central America Southern Africa South Asia South America 2 South America 1 Eastern Asia Caribbean North Africa Eastern Africa Southeast Asia 1 2 3 4 5 6 7 8 9 10 South Asia Eastern Asia Eastern Africa South America 1 Southern Africa Central America South America 2 Western Asia North Africa Southeast Asia 1 2 3 4 5 6 7 8 9 10 Eastern Asia South America 2 Southern Africa Southeast Asia South Asia Central America Caribbean Pacific Eastern Africa South America 1 42.33 58.44 42.18 41.69 37.44 25.52 35.24 15.42 23.06 27.66 34.90 43.10 30.92 36.14 23.10 31.58 32.72 21.12 20.51 19.86 17.71 27.68 33.88 20.24 17.67 15.20 15.92 13.38 12.82 9.60 8.96 13.54 16.12 38.71 34.37 24.99 26.87 19.80 15.05 22.70 15.29 9.83 7.17 21.48 29.34 29.97 9.83 11.06 10.73 15.78 7.35 5.55 9.65 3.78 13.30 35.40 24.31 24.95 22.17 13.85 19.21 6.85 8.08 8.80 4.94 16.86 68.21 61.52 53.61 47.58 42.68 32.72 30.28 24.07 21.82 20.95 40.34 44.71 41.97 38.70 38.22 37.37 33.25 23.77 23.31 18.39 18.22 31.79 28.27 25.93 22.00 21.63 18.52 16.18 13.62 10.28 9.27 8.29 17.40 44.52 32.81 30.99 27.32 22.27 17.81 15.25 12.75 12.71 10.05 22.65 39.39 29.92 17.12 14.62 13.20 11.89 7.05 6.93 4.71 3.68 14.85 40.77 25.53 24.99 24.29 19.86 15.88 11.97 9.40 6.46 6.09 18.52 Manufactured Average Source: UNCTAD South-South Trade Information System South-South Trade: The Reality Check 49 Annex Table 6.3.b. Top 10 subregions, ranked according to the degree of comparative advantage in 2005 (Aggregate of "positive (>0) values of normalized RCAs in each product sector, for each subregion) Sector Sub-sector Rank Agriculture Animal prod 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 Vegetable prod. Prepared foodstuffs Fats & oils Hides skin leather Natural-resource based Fuels Ore & mineral Sub-region 1995 2005 Eastern Africa South America 2 Central America Southern Africa South Asia North Africa Pacific South America 1 Western Asia Western Africa Eastern Africa South Asia South America 2 Central America Southern Africa North Africa Western Asia South America 1 Pacific Southeast Asia Central America South America 2 South America 1 Southern Africa Caribbean Eastern Africa Pacific North Africa Western Africa Southeast Asia South America 2 Southeast Asia Eastern Africa South Asia North Africa Southern Africa Pacific South America 1 Central America Eastern Africa South Asia Eastern Asia Southern Africa South America 2 Central America South America 1 North Africa Western Asia Caribbean North Africa Caribbean Southern Africa South America 1 Eastern Africa South Asia Western Asia Pacific Central America Western Africa South Asia Southern Africa Eastern Africa South America 1 South America 2 Central America North Africa Caribbean 8.91 14.27 7.63 5.79 9.24 5.28 5.95 3.15 4.93 3.95 20.38 21.19 16.48 12.62 14.99 16.08 14.27 7.63 5.14 5.74 18.02 19.73 10.43 11.14 15.23 6.70 2.98 9.18 7.60 4.07 6.52 3.53 2.78 1.03 3.20 3.77 0.60 1.27 1.38 3.57 3.73 3.79 1.75 1.44 2.53 3.04 1.49 1.79 0.77 3.00 4.07 6.36 2.40 4.62 3.59 3.32 0.25 1.78 2.37 11.73 14.80 8.14 9.46 6.01 8.33 7.52 5.91 15.89 14.01 12.85 9.72 8.71 6.29 6.23 5.25 4.55 2.59 30.94 24.80 18.47 18.24 13.62 12.69 10.06 9.37 6.75 6.40 18.55 18.45 14.88 14.58 13.57 12.03 8.79 7.71 7.45 6.90 8.06 4.21 4.04 3.09 2.50 2.01 1.99 1.87 1.75 5.31 5.14 3.67 2.74 2.53 2.22 1.34 1.09 0.97 0.90 5.10 4.97 4.55 3.49 3.07 2.70 2.06 1.97 1.80 1.21 17.06 16.71 13.97 12.98 11.08 7.72 7.32 5.06 .../... 50 Issues in New Geography of International Trade Annex Table 6.3.b. (continued) (Aggregate of "positive (>0) values of normalized RCAs in each product sector, for each subregion) Sector Sub-sector Plastic & Rubber Stones, glass, cement Wood and products Base metal & products Base metal & products Chemical and allied indust. Chemical and allied Textiles & Articles Apparel Footwear & Head gears Rank 9 10 1 2 3 4 5 6 7 8 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 Sub-region 1995 2005 Central Africa Pacific Central America Southeast Asia Eastern Asia South Asia South America 1 South America 2 Eastern Africa Caribbean South Asia South America 1 Central America Eastern Asia Southern Africa Western Asia South America 2 Eastern Africa Pacific Southeast Asia Southern Africa Central America Eastern Africa South America 2 South America 1 Southeast Asia Caribbean Western Africa Pacific Eastern Asia Southern Africa South Asia Central America South America 1 Eastern Asia Eastern Africa South America 2 Caribbean Southeast Asia North Africa Central America Southern Africa South Asia South America 2 South America 1 Eastern Asia Caribbean North Africa Eastern Africa Southeast Asia South Asia Eastern Asia South America 1 Eastern Africa Southern Africa Pacific Western Asia Caribbean North Africa Central America Eastern Asia South America 1 Southern Africa South Asia Eastern Africa South America 2 Central America 4.35 1.99 6.93 3.89 4.22 3.36 2.36 3.43 1.03 1.49 10.49 9.92 10.46 5.98 8.15 5.78 9.71 4.36 0.99 4.44 12.27 8.63 4.95 12.54 6.78 7.88 6.53 4.93 2.67 4.58 33.88 20.24 17.67 15.20 15.92 13.38 12.82 9.60 8.96 13.54 38.71 34.37 24.99 26.87 19.80 15.05 22.70 15.29 9.83 7.17 5.50 8.05 2.14 3.63 0.85 0.00 1.43 1.42 3.24 1.07 4.03 3.33 1.33 1.46 0.41 1.39 1.95 4.27 3.81 7.19 5.14 4.29 4.23 3.94 3.39 3.05 1.77 11.06 9.71 8.02 7.92 6.71 5.86 5.51 5.17 3.95 3.73 16.04 13.97 12.95 12.44 11.85 10.60 9.93 4.72 4.61 4.20 28.27 25.93 22.00 21.63 18.52 16.18 13.62 10.28 9.27 8.29 44.52 32.81 30.99 27.32 22.27 17.81 15.25 12.75 12.71 10.05 11.33 8.25 5.42 4.85 2.53 2.24 2.09 1.72 1.55 1.10 4.58 2.79 2.66 2.44 1.69 1.25 1.01 .../... South-South Trade: The Reality Check 51 Annex Table 6.3.b. (continued) (Aggregate of "positive (>0) values of normalized RCAs in each product sector, for each subregion) Sector Sub-sector Textile Manufactured Machineries, etc. Electrical machineries, computers, telecom, etc. Optical & precision tools Misc. Manufactured Vehicles Rank 8 9 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 Source: UNCTAD South-South Trade Information System 52 Issues in New Geography of International Trade Sub-region 1995 2005 Western Africa Caribbean South Asia Eastern Asia Eastern Africa Central America Southern Africa South America 1 South America 2 Western Asia Southeast Asia North Africa Eastern Asia South America 2 Southern Africa South Asia Southeast Asia Central America Pacific Caribbean Eastern Africa Eastern Asia Southeast Asia Central America South Asia South America 2 Southern Africa Caribbean Eastern Asia Southeast Asia Caribbean Southern Africa South Asia Eastern Africa Central America South America 2 South America 1 North Africa Eastern Asia Central America Eastern Africa South Asia South America 1 Southern Africa South America 2 Caribbean Pacific Western Asia South America 2 South Asia Southern Africa Central America Eastern Asia Southeast Asia Western Africa Eastern Africa 2.10 0.88 22.38 17.88 5.80 12.76 8.55 5.59 5.75 4.12 2.01 5.72 10.55 11.12 10.45 2.97 5.66 8.16 1.23 0.36 0.81 5.23 6.53 2.65 2.63 1.12 0.86 0.00 9.13 6.44 3.09 2.29 0.93 0.18 0.92 1.37 0.32 0.58 5.53 3.57 2.53 2.43 2.56 2.16 0.59 2.19 1.17 1.11 4.55 3.01 3.01 2.59 1.42 0.48 0.15 1.80 0.87 0.48 25.62 17.09 10.58 9.77 8.01 6.41 5.80 4.62 3.42 3.17 12.06 10.33 9.82 7.75 7.15 5.28 2.41 2.01 1.47 8.08 5.89 3.17 2.90 1.42 1.11 0.86 10.06 7.00 4.25 3.12 1.85 0.78 0.74 0.65 0.45 0.45 6.28 4.47 3.25 2.30 2.04 1.92 1.49 1.43 0.88 0.68 5.21 2.96 2.54 1.58 1.35 0.95 0.94 0.79 Annex Table 7.1. Partners and Products Number of products in 1995 Number of trading partners in 1995 Number of products in 2005 Number of trading partners in 2005 Ranking Exporter 1 Argentina 248 53 253 55 2 Bahrain 201 31 217 40 3 Belize 131 25 159 35 4 Bolivia 175 31 209 35 5 Brazil 247 55 256 57 6 Burundi 49 16 75 22 7 Cameroon 143 34 190 42 8 Central African Republic 52 22 94 26 9 Chile 247 49 249 50 10 China 257 56 259 57 11 Colombia 236 48 245 50 12 Costa Rica 223 44 228 48 13 Dominica 139 31 150 34 14 Ecuador 209 41 227 47 15 Gambia, The 79 20 90 26 16 Guatemala 219 44 239 45 17 Honduras 206 41 217 43 18 Hong Kong, China 255 56 256 55 19 India 254 56 257 56 20 Indonesia 251 55 255 57 21 Jordan 202 35 223 47 22 Kiribati 17 10 57 12 23 Korea, Republic of 253 56 256 56 24 Malawi 150 35 187 36 25 Malaysia 253 52 258 57 26 Maldives 59 17 148 26 27 Mauritius 165 34 226 46 28 Mexico 242 53 251 54 29 Morocco 159 43 213 48 30 Mozambique 117 30 179 33 31 Nicaragua 178 32 200 38 32 Niger 78 21 125 30 33 Oman 169 32 219 42 34 Pakistan 211 53 240 56 35 Panama 229 44 238 48 36 Peru 221 42 248 49 37 Philippines 231 48 248 54 38 Qatar 156 27 196 47 39 Saudi Arabia 243 50 250 52 40 Seychelles 68 14 99 32 41 Singapore 257 54 258 55 42 South Africa 258 52 259 56 43 St. Kitts and Nevis 37 13 57 18 44 St. Lucia 84 14 109 21 45 St. Vincent and the Grenadines 90 11 107 18 46 Sudan 101 38 153 37 47 Taiwan Province of China 254 54 257 56 48 Tanzania (United Rep. of) 171 39 214 42 49 Thailand 248 56 256 57 50 Togo 72 21 172 32 51 Trinidad and Tobago 180 35 211 40 52 Tunisia 159 39 190 49 53 Turkey 235 53 247 55 54 Uganda 86 27 198 35 55 Uruguay 214 39 230 47 56 Venezuela (Bolivarian Rep. of) 230 43 232 47 57 Zambia 164 33 193 34 10 062 2 157 11 529 2 442 Total Source: UN Comtrade. South-South Trade: The Reality Check 53 Annex Table 7.2. Most traded (i.e. exported) products in new trade relationships (NTR): By region (SQUARED MATRIX) ASIA: Most traded goods in VALUE Product name Value (US$ million) ASIA: Most traded goods in FREQUENCY Percentage No. of NTR on this product Product name Telecomms equipment nes 9 997.32 14.76 18 Articles nes of plastics Valves/transistors/etc 8 820.38 13.02 13 Printed matter Office equip parts/accs. 7 458.37 11.01 15 Optical instruments nes 5 701.52 8.42 Computer equipment 5 551.23 8.19 Electric circuit equipmt 4 623.64 6.82 22 Electrical equipment nes 3 156.26 4.66 Elect power transm equip 2 146.21 3.17 Textile yarn Percentage 0.39 30 57.27 0.08 28 Articles of apparel nes 118.53 0.17 24 11 Furniture/stuff furnishg 53.61 0.08 24 21 Hand/machine tools 39.68 0.06 23 Electric circuit equipmt 4 623.64 6.82 22 19 Computer equipment 5 551.23 8.19 21 18 Base metal manufac nes 274.82 0.41 21 21 1 268.73 1.87 10 224.27 0.33 Rest of products 19 030.47 28.09 2 138 Rest of products 56 548.08 83.46 Total 67 754.12 100 2 285 Total 67 754.12 100 Product name Value (US$ million) No. of NTR on this product 263.00 AFRICA: Most traded goods in VALUE Baby carr/toy/game/sport 2 285 AFRICA: Most traded goods in FREQUENCY Percentage No. of NTR on this product Product name Value (US$ million) Percentage No. of NTR on this product Pearls/precious stones 151.07 24.57 1 Electrical equipment nes 3.45 0.56 25 Pulp and waste paper 95.19 15.48 2 Articles of apparel nes 0.74 0.12 22 Sugar/mollasses/honey 32.17 5.23 3 Printed matter 1.15 0.19 21 Primary/prods iron/steel 20.77 3.38 1 Articles nes of plastics 1.13 0.18 21 Cotton 18.08 2.94 7 Mens/boys wear, woven 0.25 0.04 19 Aircraft/spacecraft/etc 13.76 2.24 3 Goods/service vehicles 13.13 2.14 10 Civil engineering plant 12.77 2.08 13 Flat rolled iron/st prod 12.02 1.96 2 Rest of products 245.85 39.99 1 177 Total 614.82 100 1 219 AMERICA: Most traded goods in VALUE Product name Value (US$ million) Passenger cars etc. 206.28 Motor veh parts/access Electric circuit equipmt 0.70 0.11 18 Computer equipment 2.49 0.41 18 Women/girl clothing wven 0.23 0.04 17 Office equip parts/accs. 0.20 0.03 16 Rest of products 604.48 98.32 1 042 Total 614.82 100 1 219 AMERICA: Most traded goods in FREQUENCY Percentage No. of NTR on this product 28.97 4 Product name Articles nes of plastics Value (US$ million) 1.86 Percentage 0.26 No. of NTR on this product 17 111.38 15.64 10 Electric circuit equipmt 0.22 0.03 16 Ships/boats/etc 76.61 10.76 5 Telecomms equipment nes 2.12 0.30 16 Goods/service vehicles 66.20 9.30 4 Computer equipment 0.89 0.13 14 Heavy petrol/bitum oils 39.55 5.55 7 Measure/control app nes 0.14 0.02 14 Iron/steel pipe/tube/etc 19.56 2.75 9 Rubber tyres/treads 15.69 2.20 13 Printed matter 3.13 0.44 14 Articles of apparel nes 1.08 0.15 14 Edible products n.e.s. 11.53 1.62 Aluminium ores/concs/etc 10.88 1.53 7 Footwear 0.71 0.10 13 2 Office equip parts/accs. 0.96 0.14 Rest of products 154.47 21.69 1 054 13 Rest of products 701.06 98.44 984 Total 712.16 100 1 115 Total 712.16 100 1 115 Source: UN Comtrade. 54 Value (US$ million) Issues in New Geography of International Trade Annex Table 7.3. Existing products traded with existing partners Product name (SITC.Rev3, 3-digit) Ranking Value 1995 (US$ million) Percentage of total Value 2005 (US$ million) Percentage of total 1 Valves/transistors/etc. 33 566.51 7.81 187 807.94 15.61 2 Petrol./bitum. oil, crude 22 270.09 5.18 79 594.97 6.62 3 Telecomms equipment nes 15 105.28 3.52 68 645.04 5.71 4 Office equip parts/accs. 11 625.24 2.71 52 572.01 4.37 5 Heavy petrol/bitum oils 14 192.51 3.30 49 635.07 4.13 6 Computer equipment 7 644.39 1.78 40 735.12 3.39 7 Optical instruments nes 690.67 0.16 26 524.23 2.21 8 Electric circuit equipmt 6 534.85 1.52 26 519.13 2.20 9 Electrical equipment nes 6 362.62 1.48 24 881.87 2.07 10 Copper 6 933.50 1.61 15 630.10 1.30 11 Iron ore/concentrates 1 678.72 0.39 13 527.03 1.12 12 Hydrocarbons/derivatives 2 569.78 0.60 11 637.46 0.97 13 Sound/tv recorders etc. 2 801.03 0.65 11 533.61 0.96 14 Elect power transm equip 4 277.31 1.00 11 243.57 0.93 15 Textile yarn 8 494.67 1.98 10 981.59 0.91 16 Baby carr/toy/game/sport 7 539.67 1.75 10 828.93 0.90 17 Passenger cars etc. 2 691.44 0.63 10 525.39 0.88 18 Articles of apparel nes 5 209.38 1.21 10 401.18 0.86 19 Flat rolled iron/st prod 3 759.77 0.88 10 096.74 0.84 Rest of products 265 725.14 61.84 529 578.01 44.03 total 429 672.56 100 1 202 898.98 100 Source: UN Comtrade. South-South Trade: The Reality Check 55 QUESTIONNAIRE SOUTH-SOUTH TRADE: The Reality Check Readership Survey Since 1999, the Trade Analysis Branch of the Division on International Trade in Goods and Services, and Commodities of UNCTAD has been carrying out policy-oriented analytical work aimed at improving the understanding of current and emerging issues in international trade and development. In order to improve the quality of the work of the Branch, it would be useful to receive the views of readers on this and other similar publications. It would therefore be greatly appreciated if you could complete the following questionnaire and return to: Trade Analysis Branch, DITC Rm. E-8076 United Nations Conference on Trade and Development Palais des Nations CH-1211 Geneva 10, Switzerland (fax: +4122 917 0044; e-mail: tab@unctad.org) 1. Name and address of respondent (optional): 2. Which of the following describes your area of work? 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