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World Trade Statistical Review 2019
10
World merchandise trade in 2018 8
World trade in commercial services in 2018 9
Trends in world trade, 2008-2018 10
Developing economies 12
Global trade: World maps 14
Chapter I I
Highlights of world trade
6
World Trade Statistical Review 2019
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World merchandise trade in 2018
The volume of world merchandise trade, as measured by the average of exports and imports, grew by 3.0 per cent in 2018, just above the 2.9 per cent increase in world GDP over the same period.
US$
19.67 trillion
Value of world merchandise trade in 2018
US$ 193 billion
Merchandise exports of least-developed countries in 2018
ClothingClothing was the most dynamic product among manufactured goods, with an increase of 3.3 per cent in 2018.
Merchandise trade
The value of merchandise trade increased by 10 per cent in 2018. The increase in exports was mostly driven by high energy prices while Asia was the main contributor to an increase in global imports.
World merchandise exports of fuels and mining products, manufactured goods and agriculture grew by 23 per cent, 8 per cent and 5 per cent respectively.
Developing economies exported a total of US$ 8,779 billion in 2018, of which US$ 193 billion were from least-developed countries.
ChinaWorld’s leading merchandise trader in 2018
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16.2%Growth of least-developed countries’ services exports in 2018
US$
5.63 trillion
Value of world trade in commercial services in 2018
17%Growth in world exports of computer services in 2018
Commercial services trade
Information and communication technology recorded the highest export growth (15 per cent) among services sectors in 2018, led by computer services.
Growth in exports of commercial services was highest in the Commonwealth of Independent States (12 per cent) in 2018, partly due to the FIFA World Cup in Russia.
China was the leading exporter of commercial services (by value) among developing countries, with exports increasing by 17% in 2018.
United StatesWorld’s leading commercial services trader in 2018
World trade in commercial services in 2018
Trade in commercial services recorded strong growth for the second year in a row, rising by 8 per cent.
Chapter II: Highlights of world trade
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World merchandise trade volume World real GDP at market exchange rates
80
85
90
95
100
105
110
115
120
125
130
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Trends in world trade, 2008-2018
15
-23
22
20 0 2 1
-13-3
11
10
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
20000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018*
Agricultural products Fuels and mining products Manufactures
13-11
913 3
77
-4 18
8
0
1000
2000
3000
4000
5000
6000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Transport Travel Other commercial services Goods-related services
Chart 2.2 World merchandise exports by product group and annual growth, 2008-2018 (US$ billion and average annual percentage change)
Chart 2.1 World merchandise trade volume and real GDP at market exchange rates, 2008-2018 (Indices, 2008=100)
Chart 2.3 World exports in commercial services by sector and annual growth, 2008-2018 (US$ billion and average annual percentage change)
* Provisional estimate.Source: WTO estimates. Source: WTO-UNCTAD-ITC estimates.
Source: WTO estimates, IMF World Economic Outlook.
World exports of merchandise trade have increased by 20 per cent in value terms since 2008. Exports of manufactured goods grew at an average annual rate of 2.3 per cent.
World trade and GDP have grown in tandem for the last ten years. Both have increased by 26 per cent since 2008.
World exports of commercial services have increased by 46 per cent in value terms since 2008 and services exports grew by an average annual rate of 3.9 per cent.
Trade and GDP
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Chart 2.4 World’s leading traders of goods and services, 2008 and 2018 (US$ billion)
Source: WTO-UNCTAD-ITC estimates.
Over the past ten years, Hong Kong China, India, Mexico and Ireland rose the most in world rankings among the top 20 traders of goods and services.
Which sectors increased or declined the most?
Top 202008 2018
United States United States
Germany China
China Germany
Japan Japan
France France
United Kingdom United Kingdom
Netherlands Netherlands
Italy Hong Kong, China
Korea, Republic of Korea, Republic of
Canada Italy
Spain India
Russian Federation Singapore
Singapore Canada
Belgium Mexico
Hong Kong, China Spain
India Belgium
Mexico Russian Federation
Switzerland Switzerland
Chinese Taipei
Chinese Taipei Ireland
Ireland
Global trade in professional and management consulting services increased at an average annual rate of 6.5% from 2008 to 2018.
6.5%
World exports of sea transport services declined at an average annual rate of 1% between 2008 and 2018.
1%
Exports of iron and steel declined at an annual rate of 2.3% from 2008 to 2018.
2.3%
Exports of pharmaceuticals saw the biggest increase among manufactured goods, rising by 4.2% per year between 2008 and 2018.
4.2%
Chapter II: Highlights of world trade
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Developing economies
Participation in world trade
-3.5
1.5
2.4
1.9
3.7
4.5
5.3
5.7
9.8
14.6
Nigeria
South Africa
Brazil
Turkey
United Arab Emirates
Mexico
India
China
Bangladesh
Viet Nam
Chart 2.6 Growth of selected developing economies in merchandise exports, 2008-2018 (Average annual percentage change)
Chart 2.7 Growth of selected developing economies in commercial services, 2008-2018 (Average annual percentage change)
8.6
9.4
10.0
10.1
12.4
13.0
14.1
14.5
29.3
40.9
India
Singapore
Viet Nam
Chinese Taipei
Thailand
Panama
Philippines
Macao, China
Qatar
Myanmar
Chart 2.5 Developing economies’ trade in goods and services, 2008-2018 (Annual percentage change)
Viet NamViet Nam’s exports of electrical machinery increased almost 30-fold between 2008 and 2018.
BangladeshBangladesh’s exports of apparel and clothing more than trebled between 2008 and 2018.
MyanmarMyanmar’s travel exports increased 29-fold between 2008 and 2018.
QatarQatar’s exports of transport services quintupled between 2008 and 2018.
-30
-20
-10
0
10
20
30
Developing economies Developed economies
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Source: WTO-UNCTAD-ITC estimates.Note: Trade is calculated as the average of exports and imports.
Source: WTO-UNCTAD estimates. Source: WTO-UNCTAD-ITC estimates.
Developing economies outperformed or equalled the performance of developed economies in world trade in most of the past ten years.
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Trade between developing economies
4648
4950 52 52 53
52 51 52 52
54
52
51
5048 48 47
4849
48
48
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
South-South trade Developing economies’ exports to developed economies and CIS
Chart 2.8 Trading partners of developing economies, 2008-2018 (US$ billion and percentage share)
Chart 2.9 Leading exporters among least-developed countries, 2008 and 2018 (Percentage of total LDC exports)
Source: WTO estimates.Note: As a preliminary estimate, the percentage shares of 2017 were applied to 2018.
Source: WTO-UNCTAD-ITC estimates.
Only Tanzania, Cambodia and Ethiopia remained in the top five LDCs for commercial services.
Angola
Merchandise trade 2008
Commercial services 2008
Merchandise trade 2018
Commercial services 2018
Bangladesh
Sudan
Yemen Mya
nmar
Zambia
Cambodia
Democratic Republic of the Congo
Chad
Tanzania
Tanzania
Ethiopia
Cambodia
Afganistan
Senegal Madagascar
Ban
glad
esh
Yemen Uga
nda
Zambia
OthersAngola Bangladesh
Myanmar Cambodia
Zam
bia
LaoPDR M
ozam
biqu
e
Guinea TanzaniaDem
ocra
tic R
epub
lic
of th
e C
ongo
Others
Cambodia
Myanmar
Ethiopia
Tanzania
Bangladesh Nepal
Uganda
Sudan
Madagascar
Senegal
Others
Others
Angola
Merchandise trade 2008
Commercial services 2008
Merchandise trade 2018
Commercial services 2018
Bangladesh
Sudan
Yemen Mya
nmar
Zambia
Cambodia
Democratic Republic of the Congo
Chad
Tanzania
Tanzania
Ethiopia
Cambodia
Afganistan
Senegal Madagascar
Ban
glad
esh
Yemen Uga
nda
Zambia
OthersAngola Bangladesh
Myanmar Cambodia
Zam
bia
LaoPDR M
ozam
biqu
e
Guinea TanzaniaDem
ocra
tic R
epub
lic
of th
e C
ongo
Others
Cambodia
Myanmar
Ethiopia
Tanzania
Bangladesh Nepal
Uganda
Sudan
Madagascar
Senegal
Others
Others
From 2011, developing economies’ exports to other developing economies surpassed its exports to developed economies. “South-South” trade represented an estimated
US$ 4.28 trillion or 52% of total developing economies’ exports in 2018.
Only Angola, Bangladesh and Myanmar remained in the top five LDC merchandise traders from 2008 to 2018.
Chapter II: Highlights of world trade
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Economies by size of merchandise trade, 2018
Source: WTO-UNCTAD estimates.Note: Includes significant re-exports or imports for re-export.
US$ billion
0-125 125-250 250-400 >400
Global trade: World maps
US$
19.09 trillion
Merchandise exports of WTO members totalled US$ 19.09 trillion in 2018.
52%The top ten traders in merchandise trade accounted for a little over half of the world’s total trade in 2018.
44%Developing economies had a 44% share in world merchandise trade in 2018.
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Economies by size of trade in commercial services, 2018
Source: WTO-UNCTAD-ITC estimates.
US$ billion
0-10 10-25 25-50 >50
US$
5.68 trillion
WTO members’ exports of commercial services totalled US$ 5.68 trillion in 2018.
53%The top ten traders in commercial services accounted for over half of the world total in 2018.
34%Developing economies had a 34% share of world trade in commercial services in 2018.
Chapter II: Highlights of world trade
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