WTO first time releases comprehensive data on trade in services; also in value-added terms
By TIOL News Service
GENEVA, OCT 26, 2013: THE WTO has released its annual package of trade and tariff data, including for the first time a publication dedicated to trade in services. Providing a comprehensive overview of trade developments in 2012, the package also includes the 2013 editions of Trade Profiles, World Tariff Profiles and International Trade Statistics, which has been expanded to include data measured in value-added terms.
International Trade Statistics 2013 provides a detailed overview of world trade up to the end of 2012, covering merchandise and services trade as well as, for the first time, trade measured in value-added terms. The new data covers both goods and services traded in global value or production chains. Its inclusion reflects the fact that companies nowadays divide their operations across the world, from the design of the product and manufacturing of components to final assembly. Providing data in value-added terms seeks to address the distortion that may result from attributing the full commercial value to the last country of origin.
Through the use of extensive charts and maps, International Trade Statistics illustrates noteworthy trends in global trade with links to numerous tables containing more detailed data. A methodological chapter explains how the data is compiled.
The publication serves as an invaluable reference tool for researchers, policy makers and anyone interested in international trade. It is available first in electronic format with a print version to follow in November.
World Tariff Profiles 2013 — a joint publication of the WTO, the International Trade Centre (ITC) and the UN Conference on Trade and Development (UNCTAD) — provides comprehensive tariff information on all WTO members and a number of other countries where data is available. It is the only compilation of tariff information of its kind available to researchers and negotiators.
The publication summarizes the market access that each country offers to imports as well as the market access conditions faced by its products in its major export markets. The profiles show both the maximum tariff rates that are legally “bound” in the WTO and the rates that countries actually apply. The technical annex in this year's issue focuses on WTO members' participation in regional trade agreements (RTAs), with complementary data provided on tariff elimination in RTAs notified under the WTO's Transparency Mechanism.
Trade Profiles 2013 provides the latest information on trade flows and the trade policy measures of WTO members, observers and other selected economies. With information for each of these provided in a standardized format, the publication is a quick reference tool for anyone looking for essential trade statistics.
The data provided include basic economic indicators (such as gross domestic product or GDP), trade policy indicators (such as tariffs, import duties, the number of disputes, notifications outstanding and contingency measures in force), merchandise trade flows (broken down by broad product categories and major origins and destinations), services trade flows (with a breakdown by major components) and industrial property indicators. With one page devoted to each economy, Trade Profiles offers a concise overview of global trade.
Services Profiles 2013 provides statistics on key “infrastructure services”, i.e. transportation, telecommunications, finance and insurance, for 140 economies. Coverage will be gradually expanded in future editions.
The information is derived from multiple sources, such as national accounts, employment statistics, balance of payments statistics, foreign affiliates' trade in services (FATS) statistics, foreign direct investment (FDI) statistics and quantitative indicators largely sourced from international/regional organizations and specialized bodies. The profiles reflect data as contained in the WTO's Integrated Trade Intelligence Portal (I-TIP) services database as of July 2013.
