growth of world trade has fallen to 6 percent in 2007, as confirmed by a report from the WTO: International Trade Statistics 2008
- A contraction demand in developed countries,
- currency realignments and changes in commodity prices such as oil and gas, have introduced uncertainties in global markets in 2007
These figures are contained in the official full statistics for 2007, entitled "International Trade Statistics 2008". Growth 6 per cent of trade is slightly higher preliminary evaluation of 5.5 percent announced in April but still represents a very significant drop from the 2006 figure.
The report said the slowdown "is due to a slowdown in import demand, mostly U.S. but also in Europe and Japan".
"Trade remained strong in most developing countries . In regions like Africa, Middle East, Commonwealth of Independent States (CIS) countries in developing Asia and Central and South America, economies have experienced sustained growth in 2007. "
" Although rising commodity prices have contributed to improve the financial situation of some countries, higher energy and food prices also increased inflationary pressures in the world. "
Rising prices of commodities has increased by 19 percent the total value of exports agricultural products, an increase that was higher than that in the case of trade in manufactured goods, fuels and mining products.
For the first time in five years, trade in commercial services has increased in value more rapidly than trade in goods, 18 per cent against 15 per cent. This is mainly due to increased supply at international level, a large number of financial services, IT services and business services, professional services and technical services variety, as well as the rising price of transportation.
This publication and its data can be obtained free on the website of the WTO in the following forms:
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