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The evolution of world trade in 2015 and the prospects for 2016-2017. Recent trends in the global trading system

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  • Agnes Ghibuţiu

Abstract

This paper analyzes the evolution of world trade in goods and services in 2015 and its prospects for 2016-2017, drawing on data published by the World Trade Organization (WTO) and other relevant international organizations. The first section highlights the main determinants and salient features of merchandise trade in 2015, as well as its dynamics in terms of volume and value. It also sheds light on the geographical composition of merchandise trade and the major traders. Similarly, the paper outlines the main trends that have shaped trade in services in 2015. Section two of the paper is devoted to examining the main developments in the international trading system during 2015, and aims to highlight the following four trends: (1) the uncertain prospects for trade multilateralism after the WTO Ministerial Conference in Nairobi; (2) the speed-up of plurilateral negotiations within and outside the WTO; (3) the increasing tensions among nations in the context of soaring trade protectionism; and (4) the unabated drive towards concluding regional trade agreement.

Suggested Citation

  • Agnes Ghibuţiu, 2016. "The evolution of world trade in 2015 and the prospects for 2016-2017. Recent trends in the global trading system," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy, pages 18-47.
    • Handle: RePEc:iem:conjun:y:2016:p:18-47
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