The World Trade Organization has released its latest statistical report for 2019.
According to the report, the volume of world trade in goods decreased by 0.1 percent this year, while the previous year, 2018, had decreased by 2.9 percent. According to the organization’s definitions, trade in goods is measured by the average of imports and exports. On the basis of value, last year the trade flow experienced a significant decline of 3% and reached a level above 19 trillion (trillion) dollars, while in 2018 it experienced a growth of 10.2%.
Statistics from the World Trade Organization on the state of trade in 2019 show that in this year, the trade of commercial services grew by 2.1 percent and reached the level of 5.9 trillion dollars. Of course, last year, this part of world trade slowed to a growth of 8.4% in 2018. Exports of transportation services also fell 0.8 percent as commodity trade faltered. Of course, among the service sectors, other services recorded their highest historical growth of 3.3 percent in 2019.
The increase in the value of trade in different parts of the world in 2019 is as follows: travel 1416 billion dollars, transportation 1118, services related to goods about 196 and other commercial services 3168. In the real sector, the value of trade in various commodities increased as follows: manufactured goods by $ 13.3 billion, agricultural products by $ 1.8 billion, and fuels and minerals by $ 3 billion.
*** EU Commodity Trade
According to the World Trade Organization, EU trade in goods accounted for 30% of total world trade in 2019 and amounted to $ 5670 billion; A value that, however, shows a decrease compared to the figure of 5870 billion dollars in 2018.
According to the report, global exports of commercial services remained highly concentrated last year. The 10 largest exporters of commercial services accounted for more than 54% of the sector’s global exports, namely: the United States with 14.1%, the United Kingdom with 6.8%, Germany with 5.5%, France with 4.7% China with 4.6%, the Netherlands with 4.3%, Ireland with 3.9%, India with 3.5%, Singapore with 3.4% and Japan with 3.3%.
Trade in other commercial services, including telecommunications or financial services, was, as in previous years, the dominant form of global services trade in 2019. Accordingly, exports and imports of this sector of services recorded figures of 3358 and 2979 billion dollars last year, respectively.
*** Reduce steel and iron exports
In the real sector of trade, the goods produced by the world’s factories in 2019 accounted for more than 70% of world trade in goods. Of these goods, iron and steel exports fell sharply this year, down 12 percent from 2018. Among other goods, exports of fuel and minerals fell 7.5 percent and exports of agricultural products fell 1.5 percent in 2019.
According to the World Trade Organization, while the trade in services of the regions of the world shows both positive and negative signs, but the trade of goods of all regions has decreased in the last year. In this regard, the Middle East with a negative 6.4 percent and South and Central America with a negative 5.8 percent had the highest decline in trade in the world last year. In services, however, services trade in Africa, Europe, North America and Asia grew positively last year.
The trade volume of the least developed countries in 2019 decreased by 2% to $ 226 billion. In this group of countries, factory goods and oil accounted for 65% of the commodity trade. In contrast, the services trade of these countries, with a significant growth of 10%, recorded a value of $ 43 billion.
*** Pioneer merchants 2019
Among the 50 countries with the highest trade volume in the world in 2019, Vietnam and the Philippines had the highest rise in the rankings in the last 10 years. In this regard, Vietnam rose by 16 places from 39th place in 2009 to 23rd place in 2019. According to experts, active participation in global supply chains, especially supply chains of factory goods, has been the main factor in the stunning promotion of the country’s trade position in the global arena. For the service sector, between 2009 and 2019, Qatar and the UAE had the highest rise in the ranking of the world’s largest service traders. Central geographical location means that these two countries have a special place for the world’s transportation services. The growth of intra-regional tourism is another factor in improving the service trade of the two countries.
The United States is currently a leader in the service trade. After the United States, China, Germany, Britain, Japan, France, the Netherlands, Hong Kong, South Korea, Italy, Singapore and India are in second to tenth place, respectively.
*** ” Covid-19″ and the future of trade
One of the headlines of this report is “Covid-19” and Trade. According to the World Trade Organization, the volume of world commodity trade fell sharply in the first half of 2020 following the outbreak of Covid-19 and its devastating economic shocks. In this regard, some key indicators indicate the continuation of this trend. The Purchasing Managers’ Index (PMIs) for new orders for exports of factory goods indicates a sharp decline in this index and reached the level of 27.1 units in April, while the base value of this index is 50 units. In April, new exports of services fell similarly to 21.7 points.
Changes in commodity prices are another statistic presented in this report. According to the report, while fuel prices fell by 17% in 2019, the decline is expected to continue in 2020, mostly due to restrictions.
Restrictions that reduce demand for fuel, such as travel bans and social distancing measures to combat the outbreak of the Covid-19 virus. Accordingly, last year the prices of food and raw agricultural products fell by 3% and 5%, respectively, at a historic rate. In contrast, the price of metals increased by more than 7%.
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