The world trade growth will remain sluggish in 2016, the WTO forecasts

Almaty. April 11. Silkroadnews – The world trade growth will remain sluggish in 2016 due to the economic uncertainty affecting the global demand, such forecasts follow from the report of the World Trade Organization (WTO), KazTAG informs.

“Growth in the volume of world trade is expected to remain sluggish in 2016 at 2.8%, unchanged from the 2.8% increase registered in 2015. Imports of developed countries should moderate this year while demand for imported goods in developing Asian economies should pick up,” WTO reported.

It is noted that in 2017 world trade growth should rise to 3.6%.
“Trade growth should rise to 3.6% in 2017, which is still below the average 5% of 1990,” the document says.
According to the WTO, the major exporters and importers of goods in 2015 were China, the United States and Germany. In China export fell by 2.9% and amounted to $2275 billion with import decreased by 14.2% to $1682 billion. In the US export fell by 7.1% to $1505 billion, import deсreased by 4.3% to $2308 billion; in German export fell by 11% to $1329 billion, import – by 13% to $1050 billion.

In the major exporters list Russia ranks 15th with export decline by 31.6% to $340 billion, in the list of importers – 23rd with a decrease of 37% down to $194 billion.

The list of the major exporters of commercial services in 2015 was led by the United States ($690 billion, without reduction), United Kingdom ($341 billion, decline by 4.7%) and Germany ($246 billion, 9.8% decrease). China ranks 5th ($229 billion, 0.7% reduction) and Russia – 24th ($49 billion, decline by 24.5%).

Among the largest importers of commercial services there are the US ($469 billion, 3.5% increase), China ($437 billion, increase of 14.7%) and Germany ($292 billion, 11.5% decrease). Russia ranks 16th ($85 billion, decline of 28.3%).