Selected Sources of Trade Data & Information
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World Trade Statistical Review 2021
World Trade Statistical Review 2021 8% 4.3 111.7 4% 3% 0.0 -0.2 -0.7 Insurance and pension services Financial services Computer services -3.3 -5.4 World Trade StatisticalWorld Review 2021 -15.5 93.7 cultural and Personal, services recreational -14% Construction -18% 2021Q1 2019Q4 2019Q3 2020Q1 2020Q4 2020Q3 2020Q2 Merchandise trade volume About the WTO The World Trade Organization deals with the global rules of trade between nations. Its main function is to ensure that trade flows 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 flagship 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 World Trade Statistical Review 2021 I. Introduction 4 Acknowledgements 6 A message from Director-General 7 II. Highlights of world trade in 2020 and the impact of COVID-19 8 World trade overview 10 Merchandise trade 12 Commercial services 15 Leading traders 18 Least-developed countries 19 III. World trade and economic growth, 2020-21 20 Trade and GDP in 2020 and early 2021 22 Merchandise trade volume 23 Commodity prices 26 Exchange rates 27 Merchandise and services trade values 28 Leading indicators of trade 31 Economic recovery from COVID-19 34 IV. Composition, definitions & methodology 40 Composition of geographical and economic groupings 42 Definitions and methodology 42 Specific notes for selected economies 49 Statistical sources 50 Abbreviations and symbols 51 V. -
Capturing and Utilizing Services Trade Statistics a Guide for Statistical Compilers in Developing Countries
Capturing and Utilizing Services Trade Statistics A Guide for Statistical Compilers in Developing Countries Why Do You Need Improved Services Trade Statistics? The most critical use for services statistics is to understand accurately the role that service industries are playing in your economy. When statistics about the service sector are not reported or are overlooked, governments lack the data to make informed policy and resource allocation choices. Reasons for capturing services statistics include: Grasp the importance of the service sector and the contribution of service industries Assess the effectiveness of services trade promotion strategies (i.e., has there been any change in volume of exports, number of service exporters, or range of export markets) Assess the impact of services trade agreements (i.e., has there been a change in the volume of specific types of exports to designated markets) Analyse the pattern of service imports It is important to note that, in contrast to goods trade data, only tourism statistics can realistically be tracked and reported monthly and thus used for selecting export markets. Services trade data is generally collected from annual financial reports. Given that the competitive opportunities in services shift every couple of months and market opportunities are not protected by patent or copyright, data that are over a year old are not useful in export market selection. Is It Possible to Collect Services Trade Statistics? Many people assert that it is impossible to get good statistics on services trade, implying that it is not possible to collect them. This is not true. There is no reason why an economy cannot have complete and timely services trade data – as long as this data collection is made a priority. -
Monitoring and Reporting Methods Under an Arms Trade Treaty
Transparency and Accountability Monitoring and Reporting Methods Under An Arms Trade Treaty Sergio Finardi and Peter Danssaert International Peace Information Service and TransArms-R February 2012 Transparency and Accountability Editorial Title: Transparency and Accountability - Monitoring and Reporting Methods Under An Arms Trade Treaty Authors: Sergio Finardi and Peter Danssaert Issued: February 2012 This report was originally prepared in 2009 for the internal use of Amnesty International staff. After receiving requests from other organizations on the issue of common standards for the ATT, the report is now jointly published, with updates and additions, by the International Peace Information Service vzw and TransArms-Research. The authors take full responsibility for the final text and views expressed in this report but wish to thank Brian Wood (Amnesty International) for his several inputs and advice and also wish to acknowledge the support of Amnesty International. Copyright 2012: TransArms (USA). No part of this report should be reproduced in any forms without the written permission of the authors. For further information please contact : Sergio Finardi – TransArms Research (Chicago, USA) +1-773-327-1431, [email protected] Peter Danssaert - IPIS (Antwerp, Belgium) +32 3 225 00 22, [email protected] IPIS vzw – TransArms-R Transparency and Accountability - Common Standards for the ATT Table of Contents The Report - Executive Summary.................................................................. 3 I. Introduction........................................................................................... -
Choosing the Right Incoterm for Your Canadian Shipping Strategy
DUTY PAID OR DUTY UNPAID? Choosing the Right Incoterm for Your Canadian Shipping Strategy ©2015 Purolator International, Inc. Duty Paid or Duty Unpaid? Choosing the Right Incoterm for Your Canadian Shipping Strategy Introduction Ask any retailer that ships regularly to Canada Because of Incoterms, buyers and sellers have a what its top logistics and transportation priorities clear understanding of what constitutes “delivery,” are and you’ll probably hear things like “reducing for example, and which party is responsible for transit time” or “cutting costs.” You probably won’t unloading a vehicle or who is liable for certain hear anyone say: “Choosing the right Incoterm payments. This avoids costly mistakes and keeps me up at night.” misunderstandings. Most shippers have probably never even heard Incoterms is shorthand for “International Commerce of Incoterms or maybe have only a very general Terms,” and they are developed and maintained understanding of the concept. In fact though, by the International Chamber of Commerce (ICC), Incoterms are a critical part of international located in Paris, France. The first series of commerce and an essential part of any Incoterms was adopted in 1936 and provided international border clearance. As this discussion a common understanding of specific trade terms. will make clear, assigning the right Incoterm to a particular shipment is tremendously The Paris-based International Chamber important for a number of reasons. of Commerce has maintained the globally recognized list of Incoterms since 1936. But what exactly is an Incoterm? Essentially, Incoterms set “the rules of the road” for “At first sight, both parties know who is in charge, international commerce and ensure that businesses and who bears the risks and the costs of transport, all over the world abide by the same definitions insurance, documents, and formalities”, Dr. -
THE UNCTAD TRADE POLICY SIMULATION MODEL a Note on The
UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT THE UNCTAD TRADE POLICY SIMULATION MODEL A note on the methodology, data and uses Sam Laird and Alexander Yeats No. 19 The opinions expressed in this paper do not necessarily reflect those of the UNCTAD secretariat. Comments on this paper are invited and should be addressed to the author, c/o the Chairman, UNCTAD Editorial Advisory Board, Palais des Nations, 1211 Geneva 10, Switzerland. Additional copies of this paper may be obtained on request. THE UNCTAD TRADE POLICY SIMULATION MODEL A note on the methodology, data and uses Sam Laird and Alexander Yeats Geneva October 1986 GE.86-57273 CONTENTS Section Page PREFACE INTRODUCTION 1 I. THE BASIC DATA AND PARAMETERS 4 A. Tariffs 4 B. Non-tariff barriers 5 C. Imports 9 D. Market penetration data 10 E. Elasticities 11 F. Concordances 13 II. USES OF THE MODEL 14 III. FUTURE WORK ON THE MODEL 16 IV. CO-OPERATION WITH OTHER ORGANIZATIONS 18 ANNEX I: TECHNICAL DESCRIPTION OF THE UNCTAD TRADE POLICY SIMULATION MODEL 20 ANNEX II: PRIMARY SOURCES FOR ESTIMATES OF THE TARIFF EQUIVALENTS OF NON-TARIFF BARRIERS 26 ANNEX III: ILUSTRATIONS OF SIMULATIONS MADE WITH THE UNCTAD MODEL 27 Table A1: Grains to developing countries of trade liberalization through reduction to zero of tariffs in 20 DMECs, and (b) reduction to zero of tariffs and certain non-tariff barriers (NTBs) in EEC, Japan and the United States; 29 Table A2: Increases in imports by EEC from preference-receiving countries through MFN liberalization of tariffs and non-tariffs barriers; 30 Table A3: Actual values and projected changes in exports and trade balances for selected developing countries due to the adoption of a GSTP; 31 Table A4: Projected changes in the structure of developing countries’ intra-trade in primary and processed commodities under preferential tariffs; 32 Table A5: Analysis of the influence of a debt-related trade liberalization on the export of all and selected developing countries. -
Trade Statistics in Policymaking
ECONOMIC AND SOCIAL COMMISSION FOR ASIA AND THE PACIFIC Trade Statistics in Policymaking - A HANDBOOK OF COMMONLY USED TRADE INDICES AND INDICATORS - Revised Edition Prepared by Mia Mikic and John Gilbert Trade Statistics in Policymaking - A HANDBOOK OF COMMONLY USED TRADE INDICES AND INDICATORS - Revised Edition United Nations publication Copyright © United Nations 2009 All rights reserved ST/ESCAP/ 2559 The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area of its authorities, or concerning the delimitation of its frontiers or boundaries. The opinions, figures and estimates set forth in this publication are the responsibility of the authors and should not necessarily be considered as reflecting the views or carrying the endorsement of the United Nations. Mention of firm names and commercial products does not imply the endorsement of the United Nations. All material in this publication may be freely quoted or reprinted, but acknowledgment is required, together with a copy of the publication containing the quotation or reprint. The use of this publication for any commercial purpose, including resale, is prohibited unless permission is first obtained from the secretary of the Publication Board, United Nations, New York. Requests for permission should state the purpose and the extent of reproduction. This publication has been issued without -
Eurasian Economic Integration: Impact Evaluation Using the Gravity Model and the Synthetic Control Methods
Eurasian Economic Integration: Impact Evaluation Using the Gravity Model and the Synthetic Control Methods Amat Adarovy This version: September 2018 Abstract The study examines the impact of Eurasian economic integration at aggregate and industry levels using the gravity model of trade and the synthetic control methods. The analysis finds that the trade creation effect associated with the establishment of the Eurasian Customs Union in 2010 and its further deepening, while initially exhibiting high significance, largely dissipated towards the year 2015. Overall, the net impact was overwhelmingly positive for Belarus, generally positive for Russia and mixed for Kazakhstan. Most gains are attributed to the exports of commodities (mineral products and metals), agri-food sector, and, notably, machinery and transportation sectors. The inception of the Eurasian bloc was also associated with trade diversion effects, consistent with the expectations for trade-diverting customs unions, yet the impact on imports from some countries and sectors outside the bloc, on the contrary, was positive. Keywords: Eurasian integration, trade creation and trade diversion, customs union, transi- tion economies, gravity model of trade, synthetic counterfactual JEL Classification Numbers: F13; F14; F15. yVienna Institute for International Economic Studies (WIIW), Rahlgasse 3, Vienna, Austria. Author's e-mail: [email protected]. The study is supported by a research grant from the Austrian National Bank's Anniversary Fund (OeNB Jubil¨aumsfonds). The author would like to thank David Zenz and Alexandra Bykova for statistical support, as well as Michael Landesmann, Robert Stehrer, participants of the Joint Vienna Institute seminars on Eurasian/European integration, a workshop on EAEU and BRI at the Univer- sity College London, a conference on Eurasian integration at the Austrian Chamber of Commerce, for useful comments. -
ASEAN Services Integration Report
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized 100637 East Asia & Pacific Region ASEAN Services Integration Report A Joint Report by the ASEAN Secretariat and the World Bank The Association of Southeast Asian Nations (ASEAN) was established on August 8, 1967. The Member States of the Association are Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. The ASEAN Secretariat is based in Jakarta, Indonesia. ©ASEAN 2015 The ASEAN Secretariat 70 A Jalan Sisingamangaraja Jakarta 12110 Indonesia Telephone: 62-21-724-3372 Internet: www.asean.org © 2015 International Bank for Reconstruction and Development / International Development Association or The World Bank 1818 H Street NW Washington DC 20433 USA Telephone: 1-202-473-1000 Internet: www.worldbank.org This work is a product of the East Asia and Pacific Region, the World Bank and the ASEAN Secretariat, with external contributions and support from the Government of Australia (see below). The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of ASEAN or its Member States, the World Bank, its Board of Executive Directors, or the governments they represent. ASEAN or the World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of ASEAN or The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. The material in this work is subject to copyright. Because ASEAN and The World Bank encourage dissemination of its knowledge, this work may be freely quoted or reprinted, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. -
U.S. International Trade in Goods and Services August 2020
EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, TUESDAY, OCTOBER 6, 2020 CB 20-150, BEA 20-51 Goods Data Inquiries Goods Media Inquiries Services Data and Media Inquiries U.S. Census Bureau U.S. Census Bureau U.S. Bureau of Economic Analysis Economic Indicators Division, International Trade Public Information Office Balance of Payments Division (301) 763-2311 (301) 763-3030 Data: (301) 278-9559 [email protected] [email protected] Media: (301) 278-9003 [email protected] U.S. International Trade in Goods and Services August 2020 The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $67.1 billion in August, up $3.7 billion from $63.4 billion in July, revised. Goods and Services Trade Deficit U.S. INTERNATIONAL TRADE IN Billion $ Seasonally adjusted GOODS AND SERVICES DEFICIT 70 65 Monthly deficit 60 Deficit: $67.1 Billion +5.9%° 55 Exports: $171.9 Billion +2.2%° 50 Three-month 45 moving average Imports: $239.0 Billion +3.2%° 40 Next release: November 4, 2020 35 300 (°) Statistical significance is not applicable or not measurable. Aug 2018 Aug 2019 Aug 2020 Data adjusted for seasonality but not price changes Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. U.S. Bureau of Economic Analysis U.S. International Trade in Goods and Services International Trade in Goods and Services, October 6, 2020 U.S. Census Bureau October 6, 2020 Coronavirus (COVID-19) Impact on International Trade in Goods and Services Exports and imports in August reflect both the ongoing impact of the COVID-19 pandemic and the continued recovery from the sharp declines earlier this year. -
Trade Protectionism and Us Manufacturing Employment
NBER WORKING PAPER SERIES TRADE PROTECTIONISM AND US MANUFACTURING EMPLOYMENT Chunding Li Jing Wang John Whalley Working Paper 25860 http://www.nber.org/papers/w25860 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2019 We are grateful to the SSHRC Internal Research Grant for financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2019 by Chunding Li, Jing Wang, and John Whalley. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Trade Protectionism and US Manufacturing Employment Chunding Li, Jing Wang, and John Whalley NBER Working Paper No. 25860 May 2019 JEL No. C68,F16,F62 ABSTRACT This paper uses a numerical global general equilibrium model to simulate the possible effects of US initiated trade protection measures on US manufacturing employment. The simulation results show that US trade protection measures do not increase but will instead reduce manufacturing employment, and US losses will further increase if trade partners take retaliatory measures. The mechanism is that although the substitution effects between domestic and foreign goods have positive impacts, the substitution effects between manufacturing and service sectors and the retaliatory effects both have negative influences, therefore the whole effect is that the US will lose manufacturing employment. -
Globalization in Transition: the Future of Trade and Value Chains
GLOBALIZATION IN TRANSITION: THE FUTURE OF TRADE AND VALUE CHAINS JANUARY 2019 AboutSince itsMGI founding in 1990, the McKinsey Global Institute (MGI) has sought to develop a deeper understanding of the evolving global economy. As the business and economics research arm of McKinsey & Company, MGI aims to provide leaders in the commercial, public, and social sectors with the facts and insights on which to base management and policy decisions. MGI research combines the disciplines of economics and management, employing the analytical tools of economics with the insights of business leaders. Our “micro-to-macro” methodology examines microeconomic industry trends to better understand the broad macroeconomic forces affecting business strategy and public policy. MGI’s in-depth reports have covered more than 20 countries and 30 industries. Current research focuses on six themes: productivity and growth, natural resources, labor markets, the evolution of global financial markets, the economic impact of technology and innovation, and urbanization. Recent reports have assessed the digital economy, the impact of AI and automation on employment, income inequality, the productivity puzzle, the economic benefits of tackling gender inequality, a new era of global competition, Chinese innovation, and digital and financial globalization. MGI is led by three McKinsey & Company senior partners: Jacques Bughin, Jonathan Woetzel, and James Manyika, who also serves as the chairman of MGI. Michael Chui, Susan Lund, Anu Madgavkar, Jan Mischke, Sree Ramaswamy, and Jaana Remes are MGI partners, and Mekala Krishnan and Jeongmin Seong are MGI senior fellows. Project teams are led by the MGI partners and a group of senior fellows, and include consultants from McKinsey offices around the world. -
The Intangible Globalization: Explaining the Patterns of International Trade in Services
[657] Paper The Intangible Globalization Explaining the Patterns of International Trade in Services Leo A. Grünfeld Andreas Moxnes No. 657 – 2003 Norwegian Institute Norsk of International Utenrikspolitisk Affairs Institutt Utgiver: NUPI Copyright: © Norsk Utenrikspolitisk Institutt 2003 ISSN: 0800 - 0018 Alle synspunkter står for forfatternes regning. De må ikke tolkes som uttrykk for oppfatninger som kan tillegges Norsk Utenrikspolitisk Institutt. Artiklene kan ikke reproduseres - helt eller delvis - ved trykking, fotokopiering eller på annen måte uten tillatelse fra forfatterne. Any views expressed in this publication are those of the author. They should not be interpreted as reflecting the views of the Norwegian Institute of International Affairs. The text may not be printed in part or in full without the permission of the author. Besøksadresse: Grønlandsleiret 25 Addresse: Postboks 8159 Dep. 0033 Oslo Internett: www.nupi.no E-post: [email protected] Fax: [+ 47] 22 17 70 15 Tel: [+ 47] 22 05 65 00 The Intangible Globalization Explaining the Patterns of International Trade in Services Leo A. Grünfeld NUPI (Norwegian Institute of International Affairs) Andreas Moxnes Norwegian Ministry of Finance [Abstract] We identify the determinants of service trade and foreign affiliate sales in a gravity model, using recently collected bilateral data for the OECD countries and their trading partners, as well as new indicators for barriers to service imports and foreign affiliate sales. We emphasize the strong links between service FDI and trade, since a large proportion of trade is facilitated through foreign affiliate sales. Trade barriers and corruption in the importing country have a strong negative impact on service trade and foreign affiliate sales.