FedEx research: global is the new local

Recent research from FedEx Express reveals the rapidly accelerating global reach of small- and medium-sized enterprises (SMEs) in the Asia Pacific (APAC) driven by the thriving digital economy. Overall, the number of SMEs exporting to other regions is up 254% over four years with 71% now exporting beyond APAC. The research also shows that the patterns of imports and exports into and out of the region have changed with a significant increase in imports[1] and exports[2] within the Asia Pacific region over the past three years. Entitled Global is the New Local: The Changing International Trade Patterns of Small Businesses in the Asia Pacific, the research suggests a shift in international trade patterns. Trade within the region no longer dominates as it has in the past[3] as the level of exports to other regions (71%) is reaching a similar level to that of exports within the Asia Pacific region (70%). In addition, among the APAC SMEs who source materials from other markets, 62% are sourcing from other regions, which is a significant increase from 26% in 2015.