Eurasian Integration Yearbook 2012

2011: Data and Reviewsdemand for their products and a slowdown in foreign investment, resulting inthe decline of the annual economic growth rate of China – the key driver ofeconomic processes in the Asian region in 2011 – to below its 2010 level.As a result, global trade growth declined from 12.7% in late 2010 to 2.4% inDecember 2011, and the world GDP growth rate fell from 4.9% in 2010 to3.3% in 2011.The CIS economies managed to resist the global trend, increasing their combinedgrowth rate from 4.4% in 2010 to 4.6% in 2011 with the highest growth rateFigure 14.1.World trade(%, 3 month movingaverage comparedwith that of theprevious year)Source: World TradeMonitor, February20123020100-10-20-30February 2005September 2005April 2006November 2006June 2007January 2008August 2008March 2009October 2009May 2010December 2010July 2011February 2012World exportExport by developed economiesExport by developing economiesAzerbaijanArmeniaBelarusKazakhstanKyrgyzstanMoldovaFigure 14.2.GDP growth in CIScountries (%)Source: nationalagencies, the CISStatistics CommitteeRussiaTajikistanUzbekistanUkraine-20 -10 0 102009 2010 2011296 EDB Eurasian Integration Yearbook 2012