Trade between the Pacific Island nations and China has increased substantially over the past decade and stands at around $2.1 billion for last year.
The ANZ's Pacific Quarterly Report also revealed that the early economic recovery from the global economic crisis in Australia, as the Pacific’s largest trading partner, will play a key role in the regions recovery from the global downturn, in addition to the region’s growing trade with China.
ANZ's Chief Economist Asia Paul Gruenwald said they have seen Pacific trade with China increase dramatically, from $180 million in 2001 to over $2 billion in 2008, which is an annual growth rate of 32.3%.
ANZ CEO Pacific Micheal Rowland said as the biggest employer in the Pacific, its pleasing to see the most challenging period of the global financial crisis has largely passed for the Pacific, with the help of rising tourist numbers and Australia's relatively strong performance.
Trade with China stands at $2.1B
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