Over the same period, the volume of world trade almost doubled, representing a growth rate around 30 percent faster than that of world GDP. This means that international trade in goods and services has outperformed the expansion in the world economy.
Also, from 1994 to 2004, the growth in the global sum of overseas assets and liabilities outpaced that of world GDP by around 50 percent, and this can be considered an indication of the progress in financial globalization. The rapid pace of globalization is closely related to advances in information and communications technology (ICT) and strong growth in Asia and other emerging economies.