International Trade Statistics - World Trade Organization

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I. I. WORLD TRADE DEVELOPMENTS Merchandise trade and GDP Trade slows down due to weakening demand from developed economies Trade slowed down in 2007 due to weakening demand from developed economies. Realignments in exchange rates and fl uctuations in the prices for commodities, such as oil and gas, introduced uncertainties into the global markets. Growth in world merchandise exports slipped to 6 per cent in real terms in 2007, following a year-to-year expansion of world gross domestic product (GDP) of 3.4 per cent. The slowdown of trade growth from 8.5 per cent in 2006 is due to a deceleration of import demand, mainly in the United States but also in Europe and Japan. Trade remained strong in most developing countries. Regions such as Africa, the Middle East, the Commonwealth of Independent States (CIS), developing Asia, and South and Central America showed sustained growth in their economies in 2007. While higher commodity prices helped to improve the fi nancial situation of certain countries, higher energy and food prices also increased infl ationary pressures worldwide. Chart I.1 (Annual percentage change) 10 IN THIS CHAPTER : Merchandise trade and GDP Merchandise trade by product Regional trade flows Regional Trade Agreements Merchandise trade flows of Brazil, India and China Least-developed countries The Highlights Trade in services Volume of world merchandise exports and gross domestic product, 2000-2007 IWORLD TRADE DEVELOPMENTS For the 2000-2007 period, exports on average increased by 2.7 percentage points faster than real gross domestic product. The only exception was in 2001, when trade marginally declined due to the dot.com bubble burst. 8 6 4 2 0 -2 2000-07 2001 2002 2003 2004 2005 2006 2007 GDP Volume of total exports Merchandise trade by product Trade in manufactured products is growing faster than trade in agriculture and in fuels and mining products Exports of manufactured products expanded by 7.5 per cent in volume terms in 2007, maintaining its lead over both agriculture and fuels and mining products, which grew by 5 per cent and 3 per cent respectively. The deceleration in trade in manufactured products from the 10 per cent level achieved in 2006 is partly due to the slowdown of activity in major importing economies. Asian exports of manufactured products expanded by Chart I.2 (Percentage change) Manufactures Mining Agriculture Volume growth of world merchandise trade by sector, 2007 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 13.5 per cent in 2007, but North American and European exports increased by only 4.5 per cent and 4 per cent respectively, almost half their 2006 rates. OPEC production, which declined in 2007, contributed to the stagnant volumes of fuels and mining exports from the Middle East. Crude oil exports from Africa grew by 4.5 per cent, much higher than the 1.5 per cent increases in 2005 and 2006. The CIS increased its exports of fuels and mining products by 7 per cent, the highest growth of all regions. 1
WORLD TRADE DEVELOPMENTS I The surge in agricultural prices dominated developments in 2007 Chart I.3 Value growth of world merchandise trade by sector, 2007 (Percentage change) Spurred by a 14 per cent growth in prices, agricultural exports expanded by 19.5 per cent in dollar terms Manufactures in 2007, the highest growth rate since 2000. Europe, which accounts for 46 per cent of world exports of agricultural products, boosted exports by 19 per cent. Asia, Mining the second-largest supplier with a share of 19 per cent, Agriculture increased its exports of agricultural products by 20 per 0.0 5.0 10.0 15.0 20.0 25.0 cent, a rate unmatched since 2000. Exports from North America, the third-largest supplier, rose by 17 per cent. Its share of world trade has been progressively declining, from 21 per cent in 2000 to 16 per cent in 2007, due to the below world average export growth during this period (6 per cent against 11 per cent for the world). South and Central America registered its highest growth rate since 2000 (23.4 per cent). Prices of fuels and mining products increased by 11 per cent in 2007, rising by less than half as much as in 2006. As a result, the value of world exports rose by 15 per cent, the lowest rate since 2003. Growth decelerated in all regions apart from the CIS, which increased its exports by 19 per cent. The slowdown in the price rises of minerals and non-ferrous metals (from 56 per cent in 2006 to 17.5 per cent in 2007) affected particularly non-fuel mining exports in South and Central American (whose growth declined from 55 per cent in 2006 to 20 per cent in 2007). Fuel exports from the Middle East to its most important trading partner, Asia (65 per cent of total exports), increased by 13 per cent, compared with 28 per cent the previous year. Nevertheless, demand from China and India remained strong, with imports increasing by 26 per cent. With an estimated 7 per cent increase in average prices in 2007 and continuous expansion in volumes traded, the value of world exports of manufactured products rose by 15 per cent. Europe increased its exports by 16.3 per cent, an acceleration similar to 2005 and 2006. Asia maintained nearly the same level of growth as in 2006 (15.7 per cent). North America registered the lowest growth (8.5 per cent). The CIS has become a signifi cant destination for exports of manufactured products. Imports of manufactured products in the CIS grew by an astounding annual average of 30 per cent from 2000 to 2007. As a result, 3.6 per cent of European exports of manufactured products (double the 2000 level) now go to the CIS, while Asian exports to the CIS achieved an annual average increase of 43 per cent over the same period. Regional trade flows Africa records the smallest share of intra-regional trade Chart I.4 (Percentage) Intra- and extra-regional merchandise exports, 2007 74% 80% 88% 51% 49% 26% 20% 12% 76% 90% 50% 50% 24% 10% Intra-trade Extra-trade 2
Page 1 and 2: 200. 00 100. 0.00 50.00 120 Interna
Page 3 and 4: This report is also available in Fr
Page 5 and 6: Acknowledgements This publication h
Page 7 and 8: 4.4 Financial services 145 4.5 Comp
Page 9 and 10: 7. Foreign affiliates trade in serv
Page 11 and 12: 4.5 Textiles Table II.62 Textile ex
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Table II.15 Leading exporters and i
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Table II.17 Imports of agricultural
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Table II.19 Imports of food of sele
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Table II.21 Exports of food of sele
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3. Fuels and mining products Table
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Table II.25 Imports of fuels of sel
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Table II.27 Imports of fuels of sel
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Table II.29 Trade in manufactures o
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Table II.30 (continued) Imports of
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Table II.32 Exports of manufactures
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4.1. Iron and steel Table II.34 Exp
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4.3. Office and telecom equipment T
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Table II.43 Exports of office and t
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4.3.1. EDP equipment Table II.45 Im
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Table II.48 Imports of EDP and offi
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Table II.51 Exports of telecommunic
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4.3.3. Integrated circuits and elec
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Table II.56 Imports of integrated c
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Table II.58 Imports of automotive p
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Table II.61 Imports of automotive p
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Table II.63 Textile imports of sele
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Table II.63 (continued) Textile imp
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Table II.65 Textile exports of sele
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4.6. Clothing Table II.67 Clothing
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Table II.68 (continued) Clothing im
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Table II.70 Clothing exports of sel
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III. III. TRADE IN COMMERCIAL SERVI
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Construction Building infrastructur
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per cent), legal, accounting, manag
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1. Overview Table III.1 World trade
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Table III.4 Leading exporters and i
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Table III.5 (continued) Trade in tr
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Table III.7 Leading exporters and i
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Table III.8 (continued) Trade in tr
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4. Other commercial services Table
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Table III.11 Trade in other commerc
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4.1. Communications services Table
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4.2. Construction Table III.16 Worl
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4.3. Insurance services Table III.1
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4.4. Financial services Table III.2
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4.5. Computer and information servi
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4.5.1 Computer services Table III.2
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Table III.32 Receipts of royalties
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Table III.35 Exports of other busin
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4.8. Personal, cultural and recreat
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4.8.1 Audiovisual services Table II
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IV. METADATA This chapter details t
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Table IV.1 (continued) Composition
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2. Definitions and methodology 2.1
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Table IV.2 (continued) Products 85
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2.2.1 Trade in commercial services
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2.2.2 Foreign affiliates trade in s
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3. Specific notes for selected econ
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4. Statistical sources Most frequen
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Appendix Table A1 World merchandise
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APPENDIX 175
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Table A2 (continued) Network of wor
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Table A4 Merchandise trade by selec
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Table A6 World merchandise exports
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Table A6 (continued) World merchand
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Table A7 World merchandise imports
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Table A7 (continued) World merchand
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Table A8 World exports of commercia
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Table A8 (continued) World exports
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Table A9 (continued) World imports
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APPENDIX 195
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Table A10 (continued) Network of wo
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Table A12 Merchandise trade by regi
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Table A14 Merchandise trade by regi
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Table A16 Merchandise trade of Euro
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APPENDIX 209
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Table A18 (continued) Merchandise t
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Table A24 (continued) Domestic expo
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Table A30 Export prices of Germany,
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World maps Map 1 Composition of geo
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Map 3 Ratio of exports and imports
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Notes ………………………
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