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The evolution of world trade in 2011 and the prospects for 2012-2013

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  • Agnes Ghibutiu

Abstract

This paper aims to highlight the evolution of world trade in goods and services in 2011 and its prospects in 2012-2013. In doing so, it draws on data provided by the World Trade Organization (WTO) and other international organizations. The analysis reveals the causes behind the strong deceleration of world trade growth in 2011, and outlines the salient features of merchandise trade as well as its dynamics in terms of volume and value both globally and by main geographical regions. It also sheds light on the evolution of global trade in services in terms of value, dynamics, composition and future prospects. The last part of the paper addresses some trade policy-related developments, with a particular focus on exploring the causes and forms of the surge in crisis-related trade protectionism. In this context, a number of arguments are put forward to support the need for an urgent conclusion of the Doha Round – the multilateral trade negotiations launched in 2001 under the auspices of the WTO.

Suggested Citation

  • Agnes Ghibutiu, 2012. "The evolution of world trade in 2011 and the prospects for 2012-2013," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy.
    • Handle: RePEc:iem:conjun:y:2012:id:2822000009575043
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