General Trade Flashcards
(15 cards)
What was the total value of global merchandise trade in 2023?
Over 25 trillion USD
Which country is the largest exporter of goods in the world?
China
Which country is the largest importer of goods in the world?
United States
What was the share of global trade held by services in 2023?
Approximately 24%
What region accounts for the largest share of global trade?
Asia accounts for over 36% of world merchandise exports
What percentage of European trade is intra-regional?
Over 60% of European trade is within the region
Which organization governs global trade rules?
The World Trade Organization
How many members does the World Trade Organization have as of 2024?
164 member countries
What is the value of global e-commerce sales as of 2023?
Over 5 trillion USD
What percentage of world trade is conducted by sea?
Over 80%
What are non tariff barriers in world trade?
Regulations quotas or standards that restrict imports
What is the average global tariff rate as of 2023?
Approximately 2.6%
What are the top three traded commodities globally?
Crude oil electronics and automobiles
Which country is the largest trading partner for Africa?
China
How has global trade changed since the COVID 19 pandemic?
Trade has rebounded but supply chain disruptions continue to affect volumes
