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International Trade Rebound, After the Sharpest Decline in More Than 70 Years

Author

Listed:
  • Octavian-Liviu Olaru
  • Constanta-Aurelia Chitiba
  • Livia–Irina Olaru

    ("Dimitrie Cantemir" Christian University)

Abstract

Under the influence of the global economy recession, the world goods exports, in dollar terms (nominal terms) registered a 23% drop in 2009, at a level of USD 12.1 trillion, the fall being larger than most economists had predicted. In 2009, commercial services exports registered a drop of 13 per cent, at a level of USD 3.31 trillion. This marked the first time since 1983 that trade in commercial services declined year on year. Without any further upheavals in the global economy, world merchandise trade should resume its normal upward trajectory through the end of 2010, although some deviation from its previous trend line will persist indefinitely. The WTO Secretariat estimates that world exports in volume terms will grow by 9.5%, this year, while developed economies’ exports will expand 7.5% and the rest of the world (developing economies plus the Commonwealth of Independent States) will advance 11%.

Suggested Citation

  • Octavian-Liviu Olaru & Constanta-Aurelia Chitiba & Livia–Irina Olaru, 2010. "International Trade Rebound, After the Sharpest Decline in More Than 70 Years," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 2(2), pages 8-19, June.
    • Handle: RePEc:khe:journl:v:2:y:2010:i:2:p:8-19
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    More about this item

    Keywords

    Export; import; international trade; rebound;
    All these keywords.

    JEL classification:

    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration

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