Summary of the external trade statistics of ESCWA member countries

Global trade performance continued to improve during 2011, in line with the 2010 trend but at a slower pace. This was due to the 2009 plunge in both the global economic and trade performance, which suffered negative growth for the first time since the beginning of the new millennium. In 2011 as well, total world exports reached US$17.8 trillion with a percentage increase of 19.4 per cent in nominal terms, despite the complications of the new crises and natural disasters that affected many parts of the globe, such as the Tsunami and the nuclear incident in Japan, the continuing impact of the world financial crisis, the deepening of the sovereign debt crisis in parts of the European Union, in addition to the developing Arab uprisings. The net impact of the said crises was materialized in a shrink in global demand. In real terms, recent World Trade Organization statistics show a 5 per cent growth rate in world exports during 2011, that is at a growth decrease from the 13.8 per cent real increase in 2010 that was remarkably driven by stronger demand.

Related Subject(s): International Trade and Finance