Cars, non-crude oil and medicaments are the sectors dominating world trade. Auto trade is a good proxy for the speed at which economies are developing and it is no surprise to see emerging countries leading the growth. Brazil is expected to see car imports rise by more than 13 per cent over the next five years, with exports up 4.9 per cent. Similarly Chinese imports of cars are expected to rise by nearly 12 per cent, while exports of cars from India should grow by nearly 13 per cent.

Imports of medicaments are expected to grow by 5.3 per cent and biopharma by 6.6 per cent. Much of this trade emanates from the US and Europe, but the demand is from emerging markets.

Asian and Latin American imports of medicines forecast to rise by around seven per cent and Latin American imports of biopharma by more than 11 per cent. Non-crude petroleum is the other top three-sector and care of the assumed growth in the world economy is expected to see solid growth. Again this is led by emerging market countries, with Brazil’s non-crude imports forecast to rise by 10.7 per cent and China’s by 6.8 per cent to 2016.

Not surprisingly, the Middle East and North Africa region plays a key role in this with crude oil exports projected to rise by 4.3 per cent, gas by 5.7 per cent, and non-crude oil by 4.1 per cent by 2026. Outside the top three sectors, computers are still expected to see solid growth at around five per cent.

The fastest growing sectors are expected to be printing, telecom equipment and gold with growth of around eight or nine per cent. Growth in telecom equipment is again emerging market-driven with China expected to see growth of around 11 per cent in exports and 12 per cent in imports over the next five years.

Brazil and India are expected to see growth in imports of 14.7 per cent and 11.4 per cent.