Direction of world trade
--Dr.Debesh Bhowmik
The changing patterns of direction of world trade are almost
notable and analytic in the sense that the developed country’s world shares in
both exports and imports have been dwindling, on the contrary, the developing
countries’ shares in both exports and imports have been rising decades by
decades. The developing countries now command a quarter of the world trade
volume. Both these shares are too higher than the USA. But African shares had a
structural shrift from 70s and 80s to downward in 90s and up to 2010 in both
cases of export share and import share yet it could able to increase the shares
in 2000-2010 from 1990-2000 marginally. The export and import shares of all
most all the regions of Africa have fallen or unchanged during 70s and 80s and the
shares marginally increased in 90s and after in some regions yet are less than
the previous decades. Of them, Northern and sub Saharan African shares are to
be mentioned.
In Asia, the regional bloc ASEAN and APEC were able to
increase their export and import shares since 70s to up till now. The MERCOSUR-Latin
American trading bloc failed to step up its export share but increase
marginally its import shares since 70s onwards.
The largest export and import shares captured by EU have
been stepping down continuously , yet both Asian and EU shares comprise most of
the world trade share.
The African regional trading blocs, eg, ECOWAS,ECCAS, SADC
and COMESA could not able to increase their regional bloc shares in export and
import. The AMU-the monetary bloc of Africa failed also to improve its trade
shares.
All these statistical figures are shown in the following table.(Source-African
Development Bank)
Shares of regional trading groups in world exports and
imports during 1970-2010(current dollars at current exchange rate)
|
|
Export share(% of world)
|
Import share(% of world)
|
||||||
|
|
1970-79
|
1980-89
|
1990-99
|
2000-10
|
1970-79
|
1980-89
|
1990-99
|
2000-10
|
|
Developed economies
|
23.7
|
25.7
|
27.3
|
35.7
|
20.4
|
23.8
|
27.2
|
32.2
|
|
Developing economies
|
71.1
|
69.6
|
70.5
|
60.9
|
75.2
|
71.8
|
70.6
|
65.2
|
|
Africa
|
4.9
|
4.1
|
2.4
|
2.8
|
4.3
|
4.0
|
2.4
|
2.5
|
|
Eastern Africa
|
0.6
|
0.3
|
0.2
|
0.2
|
0.7
|
0.4
|
0.3
|
0.3
|
|
Middle Africa
|
0.4
|
0.4
|
0.3
|
0.4
|
0.3
|
0.3
|
0.1
|
0.2
|
|
Northern Africa
|
1.7
|
1.5
|
0.8
|
1.0
|
1.5
|
1.6
|
0.9
|
0.9
|
|
Southern Africa
|
1.0
|
1.0
|
0.7
|
0.6
|
0.8
|
0.9
|
0.7
|
0.6
|
|
Western Africa
|
1.3
|
0.9
|
0.5
|
0.6
|
1.1
|
0.8
|
0.4
|
0.4
|
|
Subsaharan Africa
|
3.3
|
2.6
|
1.6
|
1.3
|
2.9
|
2.4
|
1.5
|
1.6
|
|
APEC
|
30.8
|
36.2
|
44.4
|
45.4
|
31.6
|
37.3
|
45.1
|
47.4
|
|
ASEAN
|
2.6
|
3.7
|
5.7
|
6.4
|
2.7
|
3.6
|
5.8
|
5.6
|
|
MERCOSUR
|
1.5
|
1.6
|
1.4
|
1.5
|
1.7
|
1.2
|
1.4
|
1.2
|
|
EU
|
44.9
|
41.8
|
42.2
|
38.4
|
47.0
|
42.1
|
41.4
|
38.1
|
|
AMU
|
1.5
|
1.3
|
0.7
|
0.9
|
1.1
|
1.0
|
0.6
|
0.6
|
|
CENSAD
|
2.7
|
1.9
|
1.0
|
1.3
|
2.3
|
2.1
|
1.2
|
1.2
|
|
COMESA
|
0.2
|
0.1
|
0.1
|
0.1
|
1.2
|
1.3
|
0.7
|
0.6
|
|
EAC
|
0.4
|
0.4
|
0.3
|
0.4
|
0.2
|
0.2
|
0.1
|
0.1
|
|
ECCAS
|
1.9
|
1.2
|
1.2
|
1.8
|
0.3
|
0.3
|
0.2
|
0.2
|
|
ECOWAS
|
1.2
|
0.9
|
0.5
|
0.6
|
1.0
|
0.8
|
0.4
|
0.4
|
|
IGAD
|
0.2
|
0.1
|
0.1
|
0.1
|
0.3
|
0.2
|
0.1
|
0.2
|
|
SADC
|
1.6
|
1.4
|
0.9
|
1.0
|
1.3
|
1.2
|
0.9
|
0.9
|
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