U.S.-based companies’ imports and exports will rise 4.7 percent annually during the next 15 years, led by exports to feed consumer demand in emerging markets, according to a new report by HSBC Commercial Banking.
The HSBC Global Connections Trade Forecast, produced with Delta Economics, forecasts growth despite global economic difficulties, notably in Europe.
During the next five years, U.S. exports are expected to rise fastest to emerging markets led by increases of more than 8 percent annually to Peru, Turkey and Brazil.
U.S. exports to China are forecast to outpace U.S. imports from China during the last five year. China and Germany are expected to leapfrog the U.S. to become the world’s largest importers by 2026, the report said.