The economic contribution of the Belt and Road Initiative to world trade

Photo: AMNA
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The economic value of the trade between China and the countries participating in the Belt and Road Initiative was $ 1.3 trillion in 2018, according to the Chinese Commerce Department’s announcement last week.

More specifically, the value of trade grew by 16.3% compared to 2017. China exported $ 705 billion to the countries participating in the modern Silk Road, having an annual increase of 10.9%, while importing of these goods worth $ 563 billion, after an increase of 23.9%.

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According to estimates by Euler Hermes Credit Insurance Corporation, the transactions in the Belt and Road Initiative network will grow by $ 117 billion next year, contributing to world trade growth by 0.3% and to global economy growth by 0.1%.

Source: naftikachronika.gr