Edumania-An International Multidisciplinary Journal
Vol.01, Issue 01 (Apr-Jun 2023)
An International scholarly/ academic journal, peer-reviewed/ refereed journal, ISSN : 2960-0006
Changing trends of Foreign Trade in the Context of Developing Countries
Lopamudra Chowdhury
Academician, Institute of Technology & Science, Ghaziabad, UP
Page Numbers: 21–30
DOI: https://doi.org/10.59231/edumania/EDMN8963
Subject: Foreign Trade, Global Value Chains, Emerging Economies, Sustainable Development Goals (SDGs), WTO & Trade Policy.
Received: Mar 20, 2023
Accepted: Apr 10, 2023
Published: May 15, 2023
Thematic Classification: International Trade & Economics, Global Value Chains, Economic Development & Globalization
Abstract
With lots of up and downs in last few years, especially during the pandemic period, the economy of developing countries growing rapidly. All countries are focusing on SDGs and constantly striving for the eradication of hunger, poverty, unemployment and skill development. The current study focuses on the trends and practices followed by the developing countries in foreign trades. Last twenty years data is collected and computed to compare the global trade, evolution of LDCs’ and developing economies’ share of global trade. One of the forces reshaping global value chains is a change in the geography of global demand. The major trends in developing countries trade performance are also compared. The study overview major trends in the participation of developing countries in world trade over the past two decades, followed by a brief examination of some of the key factors that were associated with trends for different groups of developing countries After analyzing the statistical data from world bank studies, shows that the developing countries already play a sustainable role in world trade and their significance is only expected to rise. As they diversify and grow as export markets, emerging economics will come to dominate international trade. As the share and importance of developing countries increases, the share of world trade occurring among developing countries will continue to rise.
Keywords: Foreign trades, world trade, developing countries, inflows, WTO
Impact Statement
This paper demonstrates that developing economies and emerging markets are playing an increasingly vital role in global trade, driven by diversification, expanding domestic consumption, and a shift toward knowledge-intensive value chains. By examining two decades of trade performance data, the study highlights key structural transitions—such as the growth of South-South trade, the declining importance of labor-cost arbitrage, and rising regional value chains—offering policy and trade insight for developing nations and Least Developed Countries (LDCs) to accelerate economic growth and achieve Sustainable Development Goals (SDGs).
Cite This Article
APA Style (7th Ed.): Chowdhury, L. (2023). Changing trends of foreign trade in the context of developing countries. Edumania-An International Multidisciplinary Journal, 1(1), 21–30. https://doi.org/10.59231/edumania/EDMN8963
Chicago Style (17th Ed.): Chowdhury, Lopamudra. “Changing Trends of Foreign Trade in the Context of Developing Countries.” Edumania-An International Multidisciplinary Journal 1, no. 1 (2023): 21–30. https://doi.org/10.59231/edumania/EDMN8963.
MLA Style (9th Ed.): Chowdhury, Lopamudra. “Changing Trends of Foreign Trade in the Context of Developing Countries.” Edumania-An International Multidisciplinary Journal, vol. 1, no. 1, 2023, pp. 21–30. International Council for Education Research and Training, https://doi.org/10.59231/edumania/EDMN8963.
Statements & Declarations
Authors’ Contribution: Lopamudra Chowdhury (Academician, Institute of Technology & Science, Ghaziabad, UP) is the sole author of this study. She conceptualized the study, compiled and analyzed multi-decade statistical trade datasets from international bodies (World Bank, UNCTAD, IMF, McKinsey Global Institute), evaluated external/domestic drivers of performance across regions, and authored the manuscript.
Peer Review: This paper underwent a peer-review evaluation managed by the editorial team of Edumania-An International Multidisciplinary Journal (ICERT) to verify its statistical methodologies, global trade analysis, and academic rigor.
Competing Interests: The author declares no financial, personal, or institutional conflicts of interest that could have influenced the research or conclusions presented in this publication.
Funding: The author received no direct financial assistance or grants from public, private, or non-profit funding agencies for conducting this research.
Data Availability: Secondary data and empirical trade statistics used throughout this study are sourced from published international reports (World Bank, UNCTAD, IMF, and McKinsey Global Institute) as cited in the paper.
Ethical Approval: Institutional ethics committee approval was not required as this research relies exclusively on secondary, open-access macro-economic trade datasets and global policy literature without human or animal participants.
License: Changing trends of Foreign Trade in the Context of Developing Countries © 2023 by Lopamudra Chowdhury is published in Edumania-An International Multidisciplinary Journal by the International Council for Education Research and Training (ICERT).
