Developing economies' trade surplus up $ 177 b
Geneva: Developing economies ran a combined merchandise and services
trade surplus of $177.6 billion for 2013, the UNCTAD Handbook of
Statistics 2014 revealed, representing a fall of 40 percent as measured
at present prices compared with 2012 and 63 percent compared with the
peak in 2007.
Transition economies also ran a trade surplus of $128.6 billion in
2013. This represented a fall compared to the previous year (21 percent)
and with the peak in 2011 (33 percent).
Developed economies ran a trade deficit of $65.3 billion in 2013,
down from almost $400 billion the previous year; a reduction of 84
percent (present prices).
This overall convergence is being driven by a convergence in
merchandise trade. However, trade balances for services of developing
and developed countries continue to diverge. As trade in services is
becoming more important, it suggested that the overall convergence may
not continue indefinitely.
Trade balances varied significantly at regional level. The overall
trade surplus for developing countries was driven by Asia, which
operated a surplus of $403.8 billion in 2013. In contrast, developing
countries in Africa and the Americas ran aggregate trade deficits of
$100.4 billion and $114.8 billion.
Developed countries in Europe ran an overall trade surplus of $630
billion, whereas developed countries in the Americas and Asia ran
deficits of $566.4 billion and $130.1 billion.
The direction of trade balances also varied markedly between
merchandise and services trade. In 2013, there was a continuation of
patterns seen in previous years in which developing and transition
countries ran a trade surplus for merchandise trade ($451.9 billion and
$187.2 billion), while developed countries ran a deficit of $619.2
billion.
For trade in services, the opposite was true. Developing and
transition countries ran trade deficits ($274.3 billion and $58.6
billion), while developed countries operated a surplus of $553.9
billion.
Separating merchandise and trade in services also illustrates that
the convergence in overall trade balances between developing and
developed countries evident in recent years is being driven by
merchandise trade.
The opposite is true for services, where the trade imbalance
continues to grow. The UNCTAD Handbook of Statistics 2014 also showed
that total world exports in 2013 were valued at $23.6 trillion (up
almost 3 percent from 2012) of which merchandise trade accounted for 80
percent ($18.8 trillion).
Along with providing detailed statistics on international merchandise
and services trade, the 2014 edition also provides investment, commodity
prices, maritime transport and other economic and social data, for all
individual economies for which data are available.
In addition, it includes figures for geographical regions, various
economic groupings and world totals. The Handbook aims each year to
provide data for the analysis and evaluation of world trade, investment,
international financial flows and development. To the extent possible,
UNCTAD provides estimates to fill in data gaps to furnish the most
complete data sets.
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