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The Evolution of World Trade in 2013 and the Prospects for 2014-2015

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  • Agnes Ghibutiu

Abstract

Based on data provided by the World Trade Organization (WTO) and other relevant international organizations, the first part of this paper analyzes the evolution of world trade in goods and services in 2013 and its prospects in 2014-2015. It outlines the main characteristics of merchandise trade in 2013, its dynamics in terms of volume and value, its geographical composition as well as the major exporters and importers of goods. It also highlights the main trends shaping trade in services in 2013, and the major exporters and importers of services globally. The second part of the paper examines the recent developments in the world trading system and their impact on multilateral cooperation within the WTO. In this context, the analysis has three objectives: (1) to evaluate the results and relevance of the Ninth WTO Ministerial Conference held in December 2013, in Bali for resuming global cooperation; (2) to reveal the outstanding rise in regional trade agreements and its implications for the multilateral trading system built around the WTO; and (3) to evidence the recent trends in trade protectionism.

Suggested Citation

  • Agnes Ghibutiu, 2014. "The Evolution of World Trade in 2013 and the Prospects for 2014-2015," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy.
    • Handle: RePEc:iem:conjun:y:2014:id:2822000009585047
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