Pak most at­trac­tive con­sumer mar­ket for Chi­nese goods

Pakistan Observer - - ECONOMY WATCH -

BEIJING—Pak­istan is among the coun­tries in South Asia most pop­u­lar for the Chi­nese mar­ket, mainly for con­sumer goods and value-added textile goods. In rank­ing of the most promis­ing con­sumer mar­kets in 2015 ac­cord­ing to Bloomberg In­tel­li­gence Eco­nom­ics, China, Ja­pan and In­dia came first, sec­ond and third, For China and In­dia, that re­flects their mas­sive young pop­u­la­tions and large economies. Fol­low­ing In­dia were Aus­tralia, the Repub­lic of Korea and Malaysia, Pak­istan and Bangladesh ranked the bot­tom of the list.

Ac­cord­ing to a Bloomberg re­port re­leased here, China was the most promis­ing con­sumer mar­ket in Asia in 2015, and will prob­a­bly re­main so in the next four years, “Even as China’s econ­omy slows and its pop­u­la­tion ages, it ap­pears set to at re­main the most at­trac­tive Asian mar­ket for re­tail­ers in the years ahead,” said Bloomberg economists in “In­sight: Asia re­tail fore­casts show China mar­ket to stay No. 1.” The re­port said the Asia-Pa­cific re­gion ac­counted for just un­der a third of Ap­ple’s rev­enue, and more than half of the rev­enue of Yum! Brands, op­er­a­tor of fast food chains in­clud­ing KFC and Pizza Hut, in 2015.

“Asian con­sumers have shifted from bit-part play­ers in the drama of global de­mand to a lead­ing role,” it said. Us­ing GDP and GDP per capita fore­casts from the In­ter­na­tional Mon­e­tary Fund, and de­mo­graphic fore­casts from the United Na­tions, it’s pos­si­ble to project the rank­ing scores for­ward to 2020, the re­port said. China’s econ­omy ex­panded 6.7 per­cent year on year in the first quar­ter of 2016.—Agen­cies

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