chapter ii highlights of world trade · france france united kingdom united kingdom netherlands...

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


117

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


8

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

9

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


10

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%


11

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.


12

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.


Only Tanzania, Cambodia and Ethiopia remained in the top five LDCs for commercial services.

Angola

Merchandise trade 2008

Commercial services 2008



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





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.


13

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.


14

Economies by size of trade in commercial services, 2018


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.


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