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World Trade Statistical Review 2020 World Trade Statistical Review 2020 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 0.3 0.2 0.1 World Trade StatisticalWorld Review 2020 -2.6 -2.8 -3.1 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 2020 I. Introduction 4 Acknowledgements 6 A message from Director-General Roberto Azevêdo 7 II. Highlights of world trade in 2019 8 World trade in 2019 10 World merchandise trade 2019 12 World exports of commercial services 2019 13 The world’s leading traders 14 Least-developed countries 15 III. World trade and GDP, 2019-20 16 World trade and GDP 18 Merchandise trade volume 19 Primary commodity prices 21 Exchange rates 22 Value of world trade 23 COVID-19 and trade 26 Outlook for 2020 29 IV. Shifting patterns in trade 32 Merchandise trade 34 Trade in services 47 Global supply chains for chemicals and pharmaceutical goods 55 Statistical reporting 59 V. Composition, definitions & methodology 60 Composition of geographical and economic groupings 62 Definitions and methodology 66 Specific notes for selected economies 73 Statistical sources 74 Abbreviations and symbols 75 VI. Statistical tables 76 3 Chapter I Introduction Acknowledgements 06 A message from Director-General Roberto Azevêdo 07 104 115 World Trade Statistical Review 2020 Acknowledgements This publication has been prepared under the direction The International Trade Statistics Section also wishes to of Robert Koopman, Director of the Economic Research thank colleagues from the Information and External Relations and Statistics Division, and Andreas Maurer, Chief of the Division (IERD) and the Languages, Documentation International Trade Statistics Section. The coordination of and Information Management Division (LDIMD) whose the report was undertaken by Ninez Piezas-Jerbi. Statistical collaboration is vital in the production of this report. research, data compilation and the preparation of estimates In particular, recognition is due to Anthony Martin, Serge were conducted by Barbara d’Andrea-Adrian, Alejandra Marin-Pache and Steve Cooper in IERD and to the French Barajas Barbosa, Lori Chang, Christophe Degain, Florian and Spanish translators in LDIMD. Eberth, Kathryn Lundquist, Coleman Nee, Ninez Piezas-Jerbi and Ying Yan. Finally, we wish to thank the users of WTO statistics for their constructive suggestions on how to improve our statistical Contributions to this publication were also provided by the output. This regular feedback allows us to constantly refine WTO’s Market Access Intelligence Section and the Research the data we provide. Group of the Economic Research and Statistics Division. 6 Chapter I: Introduction A message from Director-General Roberto Azevêdo Among the least developed countries, merchandise trade fell by 2 per cent but trade in commercial services increased by 10 per cent, boosted in particular by diversification from merchandise to the travel sector – which has now been badly hit by the pandemic. The COVID-19 pandemic has underlined the growing importance of the services sector, in particular the distribution sector, in keeping trade flowing. The crisis has also underlined the importance of digital trade. Improvements in bandwidth and technological innovation have been the main factors for the increase in e-commerce and digital trade. These advances make vital services such as telemedicine possible. In addition, the services sector represents more than one-third of the value-added in The COVID-19 pandemic has given rise to the deepest pharmaceutical supply chains. Disruptions to supply chains economic downturn of our lifetimes. Output has plummeted, due to the COVID-19 crisis have had a major impact on the while job losses pile up. Trade has been severely disrupted by supply of medical products and other vital goods. supply and demand shocks. A key challenge for policymakers will be to lay the foundations for a strong, sustainable and The data in this report also reflect how changing consumer inclusive economic recovery as the health crisis recedes. preferences in recent years have influenced global trade To make the right decisions about how to guide the global patterns, with consumers increasingly keen to reduce economy to recovery, they will need reliable data. use and waste of products that have a damaging impact on the environment, such as plastics. Demand for The WTO plays a critical role in compiling and analysing trade renewable energy goods, such as wind turbines, solar data. While the ongoing pandemic represents a dramatic panels and electric cars, has also increased significantly break with nearly all recent economic trends, the fact remains in the last few years. that patterns in global trade offer useful insights for what the future may hold. Finally, the COVID-19 pandemic has highlighted the limitations of existing tools for measuring trade. Some In 2019, even before the pandemic, world merchandise trade countries have struggled to report trade data on a regular declined in volume terms by 0.1 per cent, weighed down by basis, and the system used to classify traded goods has political tensions and protectionist measures. In value terms, proved to be insufficient to measure the full range of goods which reflect commodity price fluctuations, merchandise trade traded to tackle COVID-19. International organizations will fell by 3 per cent. For comparison, merchandise trade volumes need to increase co-operation to prepare themselves for grew by 2.9 per cent in 2018. future challenges of this scale. World trade in commercial services increased by 2.1 per cent I would like to thank everyone who has worked on this in 2019, slowing from its 8.4 per cent rise in 2018. All report. We hope it provides useful insights for WTO services sectors were affected, with exports of transport members and all those involved in trade analysis. services declining by 0.8 per cent as merchandise trade faltered, and travel exports growing by only 1 per cent. The only sector to record more positive growth – of 3.3 per cent – was “other commercial services”, reflecting growth in telecommunications, computer and information services. World trade continues to be concentrated among major traders: the top ten traders in both merchandise trade and commercial services accounting for slightly more than half Roberto Azevêdo of world trade. Director-General 7 Chapter II Highlights of world trade in 2019 World trade in 2019 10 World merchandise trade 2019 12 World exports of commercial services 2019 13 The world's leading traders 14 Least-developed countries 15 108 119 World Trade Statistical Review 2020 World trade in 2019 World merchandise trade in volume terms recorded a slight World trade in commercial services increased by 2.1 per decline of 0.1 per cent in 2019 after rising by 2.9 per cent cent in 2019, slowing substantially from its 8.4 per cent in the previous year. Merchandise trade is measured as rise in 2018. Transport exports declined by 0.8 per cent the average of exports and imports. In value terms, trade as merchandise trade faltered. Other commercial services 4,796 5,314 5,870 5,670 US$ billion declined by 3.0 per cent compared with an 10.2 per cent recorded the highest export growth (3.3 per cent) among increase in 2018. services sectors in 2019, buoyed by slowing, but continued, 2016 2017 2018 2019 growth in the telecommunications, computer and information services sector. 6.8% 4.7% 4.3% 3.5% 3.3% United France Netherlands India Japan Agricultural Kingdom products: 14.1% 5.5% 4.6% 3.9% 3.4% 45.8% US$ 1.8 billion — United States Germany China Ireland Singapore Others Goods-related services: — US$ 196 billion 30% Transport: 2019 — US$ 1,118 billion 70% World World trade merchandise in commercial 2,979 trade services 2019 3,358 2,829 US$ 19.051 US$ 5.898 2018 3,252 trillion, trillion, 2,662 Fuels and -3.0% +2.1% 2017 2,978 mining products: 2,469 — US$ 3.0 billion 2016 2,738 0 500 1,000 1,500 2,000 2,500 3,000 3,500 Travel: US$ billion — US$ 1,416 billion Imports Exports 250 231 226 208 200 Other commercial services: 184 US$ 3,168 billion — 150 100 US$ billion — Manufacture of goods: US$ 13.3 billion 50 40 43 32 35 0 2016 2017 2018 2019 Merchandise trade Commercial services 10 Chapter II: Highlights of world trade in 2019 European Union Merchandise trade of the European 4,796 5,314 5,870 5,670 Union accounted for 30 per cent US$ billion of world trade in 2019, totalling 2016 2017 2018 2019 US$ 5,670 billion. Commercial services exports 6.8% 4.7% 4.3% 3.5% 3.3% United France Netherlands India Japan World exports of commercial services Kingdom exports remain very concentrated. 14.1% 5.5% 4.6% 3.9% 3.4% 45.8% The top ten exporters accounted for United States Germany China Ireland Singapore Others 54.2 per cent of global exports in 2019. 30% Manufactured goods Trade in manufactured goods represents 70 per cent of world merchandise exports. Iron and steel exports 70% experienced the largest decline among manufactured goods in 2019, with a 12 per cent drop compared with 2018.
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