Evaluating Maritime Port Clusters in South Asia

Abstract

International trade has witnessed substantial growth in recent decades, driven largely by newlineglobalization and significant advancements in transportation and communication technologies. newlineAs countries have lowered trade barriers and entered into regional trade agreements, businesses newlinehave found it easier and cheaper to operate on an international scale. Improvements in shipping newlinemethods, such as container shipping and faster, more efficient aircraft, coupled with the digital newlinerevolution, have facilitated smoother and quicker transactions across borders. According to a newline2022 report by the UNCTAD, these factors contributed to global merchandise trade reaching a newlinerecord $28.5 trillion in 2023, as shown in figure 1.1, underscoring the deepening economic newlineinterdependence among nations and highlighting the pivotal role of trade in global economic newlinedynamics. newline newline