Global merchandise exports stall, developed countries record decline in 2012 – UNCTAD
The growth of merchandise exports globally almost stalled in 2012 as developed countries recorded a decline which was offset by 3.6% growth among developing countries.
In its latest statistics released April 17, 2013, the UN Conference on Trade and Development (UNCTAD) said global merchandise exports in 2012 grew by only 0.2% in value, after having expanded significantly in 2010 and 2011, UNCTAD statistics indicate.
The UNCTADstat reported that the total value of merchandise exports in 2012 was $18.325 trillion, as compared to $18.292 trillion in 2011.
Developing countries’ merchandise exports climbed by 3.6% but developed nations registered a 2.75% drop, the UN trade agency reported but indicated that “slowdown in merchandise trade exports was observed everywhere, from developing to developed economies.”
UNCTAD observed that downward trends for primary commodity prices in 2012 (excluding fuel) seriously impacted the export performance of major commodity exporters. But major exporters of petroleum and gas, it added, did quite well, recording a 5.1% increase.
Developing economies at the end of 2012 accounted for 44.4% of the global export market, says the UN agency.
By Ekow Quandzie