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.
- India ranked 18th in merchandise exports and 7th in services 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.
- 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.
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