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The Evolution Of World Trade In 2012 And The Prospects For 2013-2014

Author

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  • Agnes Ghibutiu

Abstract

Relying on data published by the World Trade Organization (WTO) and other international organizations, this paper analyzes the evolution of world trade in goods and services in 2012 and its prospects in 2013-2014. The analysis reveals the causes behind the sluggish world trade growth in 2012, and outlines the peculiarities of merchandise trade as well as its dynamics in terms of volume and value both globally and by main geographical regions. It also highlights the developments in global trade in services in terms of value, dynamics and composition. The final part of the paper provides an overview of the main developments in terms of trade policy, with a particular focus on addressing the problems arising from: (i) growing protectionist pressures and trade tensions between trading partners; (ii) uncertain prospects of completing the Doha Round; and (iii) the unabated rise in the number of regional trade agreements.

Suggested Citation

  • Agnes Ghibutiu, 2013. "The Evolution Of World Trade In 2012 And The Prospects For 2013-2014," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy.
    • Handle: RePEc:iem:conjun:y:2013:id:2822000009562003
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