International trade includes all trade in goods and services between countries involved in the world of licensing and investment holdings abroad, which are grouped under the generic term FDI. Supported by the process of globalization and the increasing regulation on tariff barriers (role of the World Trade Organization, which now has 153 members) international trade continues to grow rapidly.
Besides, its growth is higher than the global GDP, according to the analysis of the WTO in 2006, with a growth of 8% in trade against 3.5% growth in GDP. In 2006, 11.783 trillion worth of goods and services were traded worldwide according to the figures provided by WTO. However, these flows satisfy a certain organization of the economy and world markets, which are spread unevenly across the world.
The major economic powers master the essentials of global trade flows. The countries of the triad (North America, Western Europe, Japan & South Korea) are still for 70% of world trade in 2007. The emerging BRIC (Brazil, Russia, India and China) and the rest of the world will share 13% and 17% of the rest.
In contrast, 80% of the smaller exporters represent only 10% of international trade. In 2006, the EU exported to North America and Asia 398 and 332billions worth of goods and services, respectively.
As imports from these two regions rose in the same year, to 238 and 498billion dollars. For their part, North America and Asia have traded for a total of $877MdsU (Asian exports to North America are about ¾of exchange).
Tags: International trade data
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