SOME FACTS AND FIGURES
Stats for Seattle
All figures from the WTO unless source specified.
On this page: 50 years of GATT/WTO, FDI and global integration, duty-free imports from least-developed countries, trade benefits for US workers and consumers, global gains from 40% cuts in protection, 50 years of tariff cuts, 50 years of world trade/output
See also: some agricultural trade statistics
> Director-Generals message
> Built-in Agenda
> The WTO agreements and developing countries
> Least-developed countries
> Agriculture (1)
> Agriculture (2)
> Sanitary and phytosanitary (SPS) measures
> Intellectual property (TRIPS)
> Textiles and clothing
> Information technology products
> Trade and environment
> Trade and investment
> Trade facilitation
> Trade and competition policy
> Transparency in government procurement
> Trade and labour standards
> Disputes (1)
> Disputes (2)
> Electronic commerce
> Members and accessions
> Some facts and figures
> Glossary of terms
> Other ministerial meetings
50 years of GATT/WTO 1948-1998
- Merchandise trade grew by 6% annually, or 18 fold.
- Merchandise output grew by 4.2% annually, or 8 fold.
- The share of world GDP represented by merchandise trade grew from under 7% to 17.4%.
- Aggregate world trade in 1998 was $6.6 trillion, of which $5.3 trillion (80%) was merchandise and $1.3 trillion (20%) was commercial services. (Merchandise trade in 1948 was $58 billion.)
- GDP per capita grew by 1.9% annually.
- On average, per capita income is 2.5 times higher in 1998 than in 1948.
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FDI flows and global integration
- Global FDI flows grew 27 fold (or 14% annually) between 1973 and 1998.
- Global FDI flows reached $645 billion in 1998 ($24 billion in 1973, $60 billion in 1985).
- Global FDI stock rose 8 fold since 1980 or 12.5% annually.
- Global FDI stock stood at $4,100 billion in 1998.
- Cross-border mergers & acquisitions topped $544 billion in 1998, more than three times the average of $145 billion during 1990-94.
- The ratio of FDI inward stock to GDP more than doubled between 1980 and 1997 globally, from 5.0% to 11.7%.
- For developing countries, the corresponding ratio almost tripled from 5.9% to 16.6%.
- For least-developed countries, the ratio rose from 2.2% in 1980 to 5.7% in 1997.
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Duty-free treatment for imports from least-developed countries
- In 1998, US imports from the 48 least-developed countries (LDCs) amounted to $6.3 billion or 0.7% of total US merchandise imports.
- If US granted duty-free treatment to imports from LDCs, the US tariff revenue loss would be $123 million out of a total US tariff revenue of $17,500 million.
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Trade benefits for US workers and consumers(Figures from USTR website)
- Full implementation of WTO agreements (by 2005) will boost US GDP by $125250 billion per year.
- The annual effect will be equivalent to an increase of $1500$3000 in purchasing power for the average American family of four.
- Between 1994 and 1998, 1.3 million new jobs supported by exports were created in the US.
- Over the same period, total US employment increased by 11.7 million jobs, and the unemployment rate declined from 6.1% to 4.5%.
- Nearly 12 million jobs in the US (or almost 10% of all US jobs) depend on US exports.
- Jobs in the US supported by goods exports pay 1316% above the average wage.
- Over 60% of the US economy and 80% of US jobs are accounted for by the services sector.
- The US is the worlds largest exporter of services totalling over $264 billion annually.
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Global benefits from 40% cuts in trade protection(Figures from World Bank conference paper "Agriculture & Non-Agricultural Liberalization in the Millennium Round", Oct 1999)
Estimated global gains as a result of 40% cuts in protection by 2005 in the following areas:
- Agricultural subsidies & market price support $69.3 billion
- Tariffs on manufactures & mining products $69.6 billion
- Business, finance & construction services $21.6 billion
- Trade, transport & government services $332.6 billion
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GATT/WTO: 50 years of tariff reductions
MFN tariff reduction of industrial countries for industrial products, excluding petroleum
|Implementation period||Round covered||Weighted tariff reduction of all duties|
|194863||First five GATT rounds (194762) a||36|
|196872||Kennedy Round (196467) b||37|
|198087||Tokyo Round (19731979) c||33|
|199599||Uruguay Round (198694) d||38|
NOTE: Tariff reductions for the first five trade rounds refer to US only
a) Source: US Tariff
Commission, Operations of the Trade Agreements Program,
1st to 13th report covering June 1934 to June 1960
b) refers to four
markets: US, Japan, EC(6), and UK.
Source: Ernest H Preeg, Traders and Diplomats, Tables 13-1 to 134
and WTO calculations based on 1964 import values
c) refers to eight
markets: US, EU(9), Japan, Austria, Finland, Norway, Sweden, Switzerland
Source: GATT, COM.TD/W/315, 4.7.1980, p.2021 and WTO calculations
d) refers to eight
markets: US, EU(12), Japan, Austria, Finland, Norway, Sweden, Switzerland
Source: GATT, The Results of the Uruguay Round of Multilateral Trade Negotiations,
November 1994, Appendix Table 5 and WTO calculations.
trade and output back
Selected Indicators, 1948-98
|Average annual change|
|World merchandise exports|
|Billion current $||58||61||579||3,438||5,235||9.7||9.2||9.4||5.4|
|Billion constant 1990$||304||376||1797||3,438||5,683||7.4||4.7||6.0||6.5|
|Exports per capita, 1990$||123||149||466||651||951||5.5||2.9||4.2||4.9|
|World exports of manufactures|
|Billion current $||22||23||348||2,390||3,995||11.7||10.3||11.0||6.6|
|Billion constant 1990$||93||112||955||2,390||4,015||9.8||5.9||7.8||6.7|
|Exports per capita, 1990$||38||44||244||454||672||7.8||4.1||5.9||5.1|
|GDP (Billion, 1990$)||3,935||4,285||13,408||22,490||27,615||5.0||2.9||4.0||2.6|
|GDP per capita (1990$)||1,591||1,700||3,420||4,271||4,623||3.1||1.2||2.2||1.0|
|GDP (current $, market rate)||4,908||22,490||29,236||7.4||3.3|
|Exports of goods and services, to GDP, at constant 1987 prices||8.0||14.9||19.7||26.4|
|World population (million)||2,473||2,521||3,920||5,266||5,973||1.9||1.7||1.8||1.6|