The crisis of 2008–2009 altered trade patterns
in both developed and developing countries. On the
one hand, imports and exports (by volume) of developed
regions have remained below their pre-crisis
levels, with the exception of the United States where
exports have exceeded their previous peak of August
2008. On the other hand, exports from the group of
emerging market economies were 22 per cent above
their pre-crisis peaks, while the corresponding figure
for their imports was 26 per cent higher. However,
the pace of growth of trade of these economies has