Pak most attractive consumer market for Chinese goods
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