WTO’s 2023 World Trade Statistical Review (WTSR)

Context:  Recently, the World Trade Organization (WTO) unveiled its annual flagship publication, the World Trade Statistical Review (WTSR) for 2023. Highlights From World Trade Statistical Review (WTSR)
  • Global Exporters and Importers:
    • India ranked 18th in merchandise exports and 7th in services exports.
      • India was the 9th largest goods importer and 9th in services imports.
    • China remained the top merchandise exporter in 2022 but with a reduced world export share of 14%.
    • The United States and Germany ranked second and third in merchandise exports.
  • Trade Value and Growth:
    • Global trade in goods and services amounted to $31 trillion in 2022, showing a 13% year-on-year rise (Y-o-Y).
    • Goods trade exceeded pre-pandemic levels in 2021, while services trade caught up in 2022.
About World Trade Statistical Review (WTSR) 2023:
  • It provides a detailed analysis of the latest developments in world trade.
  • It is the WTO’s flagship statistical publication and is produced on an annual basis.
  • It provides data on merchandise and services trade, categorized by geographical origin, product groups, and sectors.
News Source: Business Standard

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