World trade grows 25 percent

by MM&D staff

The World Trade Organization (WTO) says the value of world merchandise trade rose 25 percent in the first half of 2010.

The WTO’s latest statistics – released September 1 – indicate this surge in trade growth is a continuation of the trend begun in the first quarter of the year.

World merchandise exports increased by about seven percent in the second quarter of 2010, in comparison with the first quarter.

Within that period, available monthly statistics for about 70 economies, representing about 90 percent of world trade, show that merchandise trade declined in April and May 2010, then rose again in June.

Regional stats

The WTO’s numbers show Asian exports and imports both rose by more than 35 percent in the second quarter of 2010, as compared to the corresponding period of 2009.

Exports from Africa and the Middle East were 35 percent higher than in the corresponding period of 2009, fuelled by demand in Asia and the US, and higher commodity prices.

The Commonwealth of Independent States (former members of the Soviet Union) posted a buoyant 44 percent export growth.

Similarly, external trade between the EU and the rest of the world was more dynamic than trade within the EU.

For Canada exports increased by about seven percent in the second quarter of 2010 and imports increased 10 percent.