English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

WTO forecasts 4.7 percent growth in 2014

GENEVA: The World Trade Organisation says world merchandise exports rose 2.1 percent to US$18.8 trillion last year. Meanwhile, the value of world commercial services exports rose 5.5 percent to US$4.6 trillion.

At US$900 billion, the growth rate for transport services was two percent last year and has averaged six percent per annum since 2005.

The WTO's 2014 forecast of 4.7 percent growth in world merchandise trade is below the average rate of 5.3 percent for the last 20 years (1993–2013) and also below the pre-crisis average rate of 6.0 percent between 1990 and 2008.

At 6.9 percent, Asia is expected to grow faster than any other region this year followed by North Cargolux 14 LRAmerica (4.6 percent), South and Central America (4.4 percent) and Europe (3.3 percent). "Other regions", an aggregate that includes Africa, CIS and the Middle East, are expected to grow 3.1 percent.

The WTO says exports will be supported by rising import demand on the part of developed countries as the US economy gains momentum, and by improving economic conditions in Europe.

"For the last two years trade growth has been sluggish. Looking ahead, if GDP forecasts hold true, we expect a broad-based but modest upturn
in 2014, and further consolidation of this growth
in 2015," said WTO director general Roberto Azevêdo. "I know that just waiting for an automatic increase in trade will not be enough for WTO Members. We can actively support trade growth by updating
the rules and reaching new trade agreements. The deal in Bali last December illustrates this."

The WTO says North America's merchandise exports rose 1.9 percent in 2013 to US$2.42 trillion (12.9 percent of the world total) while imports remained essentially unchanged at US$3.20 trillion (16.9 percent).

South and Central America's exports fell by 1.8 percent to US$737 billion (3.9 percent of world exports) but the region's imports grew by 2.4 percent to US$773 billion (4.1 percent).

European exports rose 4.0 percent to US$6.64 trillion (35.3 percent of the world total), the strongest growth of any region. Meanwhile, Europe's imports recorded a small increase of 1.0 percent to US$6.59 trillion (34.9 percent).

CIS exports declined 2.8 percent to US$778 billion while imports grew by 0.7 percent to US$575 billion in 2013. The region's exports and imports represented 4.1 and 3.0 percent respectively of world trade.

Africa's exports suffered a large decline of 6.3 percent to US$599 billion (3.2 percent of world exports). Meanwhile imports grew a modest 2.2 percent to US$628 billion (3.3 percent).

Middle East exports declined by 1.3 percent to US$1.33 trillion (or 7.1 percent) and the region's imports rose by 4.3 percent to US$770 billion (4.1 percent).

ChinaShippingFinally, Asia's exports grew by 2.8 percent to US$6.29 trillion (33.5 percent of the global total) in 2013. Meanwhile, imports grew by 2.1 percent to US$6.37 trillion (33.6 percent).

The top five merchandise exporters were unchanged in 2013 with China No.1 at (US$2.21 trillion, 11.8 percent of world volume); followed by the U.S. (US$1.58 trillion, 8.4 percent); Germany (US$1.45 trillion, 7.7 percent); Japan (US$715 billion, 3.8 percent); and the Netherlands (US$664 billion, 3.5 percent). Japan's exports suffered a sharp decline of 10.5 percent during the year.

The leading importers were the U.S. (US$2.33 trillion or 12.4 percent of the world total); China (US$1.95 trillion, 10.3 percent); Germany (US$1.19 trillion, 6.3 percent); Japan (US$833 billion, 4.4 percent) and France (US$681 billion, 3.6 percent). France replaced the U.K. at number five on the list of leading importers.

The WTO notes the trade picture changes if the European Union is counted as a single entity and intra-EU trade is excluded: Then the EU becomes the largest exporter at US$2.30 trillion or 15.3 percent of world volume, followed by China (14.7 percent), the U.S. (10.5 percent), Japan (4.8 percent) and the Republic of Korea (US$560 billion, 3.7 percent).

On the same basis, the leading importers last year were the United States (15.4 percent), the EU (US$2.23 trillion, 14.8 percent), China (12.9 percent), Japan (5.5 percent), and Hong Kong, China (US$622 billion, 4.1 percent).


News

Written on 26/05/2017, 16:16
powerful-future-ahead-for-madagascarPORT LOUIS, Mauritius. May 24, 2017. Volga-Dnepr Airlines has now completed a series of flights begun in March to deliver power generators from Mauritius...
Written on 25/05/2017, 20:07
rhinos-return-to-rwandaAKAGERA, Rwanda: May 25, 2017. Ten years after the Eastern black rhino disappeared from Rwanda following decades of poaching, 19 animals have now taken up...
Written on 25/05/2017, 18:33
port-everglades-gets-expansion-go-aheadPORT EVERGLADES, FL: May 24, 2017. Port Everglades is to invest US$437.5 million to add new berths for larger cargo vessels and install crane rail...
Written on 24/05/2017, 20:42
hapag-lloyd-takes-a-big-step-with-uascHAMBURG: May 24, 2017. Hapag-Lloyd and the United Arab Shipping Company (UASC) have completed their merger. Shareholders at the annual general meeting on...
Written on 23/05/2017, 21:03
dhl-adds-rail-link-between-shenzhen-and-belarusSHENZHEN: May 22, 2017. DHL Global Forwarding has launched the first regular LCL and FCL rail service that connects Shenzhen to Minsk in Belarus in less...
Written on 22/05/2017, 19:48
cathay-pacific-launches-restructuring-with-layoffsHONG KONG: May 22, 2017. Cathay Pacific is making 600 head office staff redundant following the announcement in March of a three-year business...
Written on 18/05/2017, 21:59
air-zimbabwe-banned-from-europeBRUSSELS: May 17, 2017. In an update to its Air Safety List, the European Commission has banned Air Zimbabwe from flying to the 28 EU Member States "due...
Written on 17/05/2017, 22:43
russian-logistics-network-signs-development-agreementMUNICH: May 17, 2017. Meeting at the transport logistic trade fair last week, members of Russia's Associated Cargo Experts Alliance (ACEX) and the...
Written on 17/05/2017, 19:41
oman-to-adopt-tir-conventionMUSCAT: May 17, 2017. The International Road Transport Union (IRU) is to support the Oman Global Logistics Group (OGLG) in developing Oman as a major...
Written on 15/05/2017, 21:56
record-port-call-for-savannahSAVANNAH, GA: MAY 15, 2017. COSCO Development, at 13,000 TEU the largest box ship to call at an U.S. East Coast port, moved a record 10,000 containers...
Written on 11/05/2017, 14:24
lufthansa-cargo-still-caring-for-humansMUNICH: May 10, 2017. Lufthansa Cargo has celebrated the 10th anniversary of its employee-inspired humanitarian logistics program Cargo Human Care (CHC)...
Written on 10/05/2017, 20:34
renewed-b-logistics-rebrands-as-lineasMUNICH: May 10, 2017. Less than two weeks after it re-launched itself as Lineas, rail logistics company B Logistics has come to transport logistic in...
Written on 09/05/2017, 21:52
cranes-get-a-lift-from-hansaHAMBURG: May 09, 2017 – Hansa Heavy Lift (HHL) has moved two 870 tonnes cranes from a decommissioned power station at London's port of Tilbury to...
Written on 09/05/2017, 18:49
ups-to-handle-dubai-expo-logisticsDUBAI: May 09, 2017. UPS is to sponsor the logistics for World Expo 2020 Dubai, to be held between October 2020 and April 2021. The company has also...
Written on 09/05/2017, 16:51
cargolux-carrier-of-choice-emirates-skycargoMUNICH: May 09, 2017. Emirates SkyCargo and Cargolux are to share aircraft capacity, networks and respective hubs in Dubai and Luxembourg in a new...
Written on 05/05/2017, 20:30
new-multipurpose-service-links-u-s-and-mediterraneanLEER, Germany: May 03, 2017. Multipurpose vessel operator BBC Chartering is adding ocean capacity between the Mediterranean and the US- East Coast, with...
Written on 04/05/2017, 20:42
royal-schiphol-group-costs-klm-millions-claimAMSTERDAM: May 04, 2017. KLM reported Q1 2017 revenue of €2.2 billion - a 3.3 percent rise over the same period last year. EBITDA increased €14 million to...
Written on 04/05/2017, 19:06
bmw-to-increase-rail-link-to-chinaMUNICH: May 03. China's news agency Xinhua reports BMW plans to increase its use of 'Silk Road' rail networks to ship components from Europe. According...
Written on 03/05/2017, 20:21
ethiopian-provides-support-for-drought-reliefTOULOUSE: May 02, 2017. German NGO humedica e.V and UK non-profit Aviation without Borders have used an Ethiopian Airlines A350 XWB delivery flight to...
Written on 28/04/2017, 19:13
amazon-3rd-party-fulfillment-revenue-up-34-percentSEATTLE: April 28, 2017. Amazon has reported net income of US$724 million on sales of US$35.71 billion for the first quarter of 2017. Results for the...

- powered by Quickchilli.com -