Presentation on theme: "Mr. Li Ruogu Chairman and President of China Eximbank 27 March 2012 The Relationship Between Exchange Rates and International Trade."— Presentation transcript:
Mr. Li Ruogu Chairman and President of China Eximbank 27 March 2012 The Relationship Between Exchange Rates and International Trade
Outline 2 Complicated Relationship between Exchange Rates and Foreign Trade Exchange Rates Levels and Trade Imbalances Exchange Rate Volatility and Foreign Trade The Causes of High Exchange Rate Volatility
3 Nominal Exchange Rate Volatility Nominal Effective Exchange Rate Volatility Real Effective Exchange Rate Volatility Average Annual Growth Rate of Exports Average Annual Growth Rate of Imports 1995-2011 Brazil4.24.0 6.18.4 China0.31.32.017.815.6 India220.127.116.114.113.2 Russia6.1 18.104.22.168 2005-2011 Brazil22.214.171.124.714.5 China0.41.31.915.611.9 India2.01.61.713.115.7 Russia126.96.36.199.812.4 Sources: IMF, BIS, World Bank WDI. Exchange Rate Volatility and Trade Growth Rate (%)
4 Sources: Bloomberg 1.Bilateral exchange rates against the U.S. dollar (increase denotes depreciation) Exchange Rate Indices, Jan 2010=100
5 Sources: IMF WEO Database G20: Savings and Current Account 2001-2010 Average
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