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World Trade

Statistical

Review

2019201620172018

About the WTO

The World Trade Organization deals with the global rules of trade between nations. Its main function is to ensure that trade fiows as smoothly, predictably and freely as possible.

About this publication

World Trade Statistical Review provides a detailed analysis of the latest developments in world trade. It is the WTO"s fiagship statistical publication and is produced on an annual basis.

For more information

All data used in this report, as well as additional charts and tables not included, can be downloaded from the WTO web site at www.wto.org/statistics

I.Introduction 2

Acknowledgements4

A message from Director-General Roberto Azevêdo 5

II.Highlights of world trade6

World merchandise trade in 20188

World trade in commercial services in 20189

Trends in world trade, 2008-2018 10

Developing economies 12

Global trade: World maps14

III.World trade developments, 2018-201916

General trends in world trade in 201818

World trade and GDP in early 2019 25

IV.Trade in merchandise and commercial services28

Merchandise trade 30

Trade in commercial services36

Global value chains, 2005-201542

Digital trade44

V.Leading traders and the role of developing economies in world trade 46

Leading players48

Regional performance52

Regional trade agreements (RTAs)55

Developing economies57

Least-developed countries62

VI.Trade policy developments66

Trade monitoring68

Trade Facilitation Agreement70

Applied tariffs 73

Aid for Trade 75

Trade nance76

VII.Composition, denitions & methodology78

Composition of geographical and economic groupings80

Denitions and methodology84

Trade policy indicators91

Specic notes for selected economies92

Statistical sources93

VIII.Statistical tables 94

Abbreviations and Symbols 174

World Trade Statistical Review 2019

1

World Trade Statistical Review 2019

10

Acknowledgements4

A message from Director-General Roberto Azevêdo5

Chapter I

Introduction

2

World Trade Statistical Review 2019

113

Acknowledgements

This publication has been prepared under the direction of Robert Koopman, Director of the Economic Research and Statistics Division, and Andreas Maurer, Chief of the International Trade Statistics Section. The coordination of the report was undertaken by Ninez Piezas-Jerbi. Statistical research, data compilation and the preparation of estimates were conducted by Barbara d"Andrea-Adrian, Alejandra Barajas Barbosa, Lori Chang, Christophe Degain, Florian Eberth, Antonella Liberatore, Kathryn Lundquist, Coleman Nee, Ninez Piezas-Jerbi and Ying Yan with the assistance of

Sonia Bouali and Carlo Gambaré.

Contributions to this publication were also provided by the WTO"s Aid for Trade Unit, the Market Access Division, the Market Access Intelligence Section, the Economic Research Group and the Trade Monitoring Section of the Trade Policies Review Division. The International Trade Statistics Section also wishes to thank colleagues from the Information and External Relations Division (IERD) and the Languages

Documentation and Information Management Division

(LDIMD) whose collaboration is vital in the production of this report. In particular, recognition is due to Anthony Martin, Serge Marin-Pache and Steve Cooper in IERD and to the French and Spanish translators in LDIMD. Finally, we wish to thank the users of WTO statistics for their constructive suggestions on how to improve our statistical output. This regular feedback allows us to constantly rene the data we provide.

World Trade Statistical Review 2019

4

A message from Director-General

Roberto Azevêdo

At a time of great uncertainty for global

trade, the role of trade statistics takes on a renewed signicance. Governments need the latest data to take informed decisions and to determine the best direction of trade policy for the benet of the people they represent. The WTO"s data-gathering role plays a big part in meeting this need. World merchandise trade grew by 3.0 per cent in 2018, slightly exceeding GDP. This was signicantly lower than the 4.6 per cent growth recorded in 2017. This loss of momentum is partly due to increasing trade tensions and historically high levels of trade restrictions. The WTO"s latest trade monitoring report conrms that trade- restrictive measures are on the rise. Trade covered by import- restrictive measures recorded in the last trade monitoring report (mid-October 2018 to mid-May 2019) is estimated at US$ 339.5 billion. This is the second-highest gure on record, after the US$ 588.3 billion reported in the previous report (mid-October 2017 to mid-October 2018). If trade is to pick up in 2019-20, trade tensions must be resolved. Trade continues to be concentrated. The ten leading traders in 2018 represented more than half of world trade, with the top ve accounting for around 37 per cent of global transactions. Developing economies are playing an increasingly important role in world trade, with signicant increases in their rankings among the world"s leading exporters and importers. There are also increasing levels of trade between developing economies. In 2018, this represented over 50 per cent of their merchandise exports. However, the merchandise exports of the least- developed countries remained at a meagre US$ 193 billion, representing less than 1 per cent of world exports. In nominal terms, high energy prices contributed to growth in merchandise exports in 2018. Exports of fuels and mining

products grew by 23 per cent while manufactured goods and agricultural products grew by 8 per cent and 5 per cent

respectively. Overall, merchandise exports grew by 10.0 per cent, down from 10.7 per cent in 2017. In contrast, world trade in commercial services grew by 8 per cent, recording strong growth for the second consecutive year. Goods- related services registered the strongest expansion, at 11 per cent, while the weakest growth was in transport services. Worldwide networks for the production of goods continue to grow in importance, with developing economies playing an increasing role. Asian economies have become major players in global value chains. Viet Nam and the Philippines have seen growth in GVC participation while for Singapore over

60 per cent of its trade involves exchanges among GVCs.

While this publication sheds light on the latest trends in trade, the increasing use of new technologies and online transactions begs the question as to whether we have the right data to measure these trends. Are existing trade statistics and product classications up-to-date for quantifying and identifying emerging products and services? As technology has helped to create new business models and products, it is essential that these are sufciently captured. The WTO is currently working in collaboration with national and international authorities, the private sector, consumers and academia to increase our understanding of this area. I would like to thank everyone who has worked on this report. We hope it provides useful insights into world trade for WTO members and all those involved in trade analysis.

Roberto Azevêdo

Director-General

Chapter I:

Introduction

5

World Trade Statistical Review 2019

10

World merchandise trade in 20188

World trade in commercial services in 20189

Trends in world trade, 2008-201810

Developing economies 12

Global trade: World maps 14

Chapter II

Highlights of

world trade 6

World Trade Statistical Review 2019

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

Clothing

Clothing 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. China

World"s leading

merchandise trader in 2018

World Trade Statistical Review 2019

8 16.2%

Growth of least-

developed countries" services exports in 2018US$ 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 States

World"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 volumeWorld real GDP at market exchange rates

80859095

100105110115120125130

Trends in world trade, 2008-2018

15 -232220 021
-13 -31110 0 Agricultural productsFuels and mining productsManufactures 13 -11913377-4188 0

100020003000400050006000

TransportTravelOther commercial servicesGoods-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 exportsquotesdbs_dbs19.pdfusesText_25

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