Thursday, November 3, 2016

UPDATED WTO TRADE STATISTICS

Updated Global Trade and Tariff Statistics Tools Available from WTO

Friday, November 04, 2016
Sandler, Travis & Rosenberg Trade Report
The World Trade Organization issued Nov. 2 expanded editions of two of its annual statistical publications, which provide detailed data on import/export flows and tariff rates in 2015.
World Tariff Profiles 2016, a joint publication of the WTO, the International Trade Center, and the United Nations Conference on Trade and Development, provides information on tariffs imposed by more than 170 economies. The first part provides summary tables showing the average tariffs imposed by individual economies. The second part provides a more detailed breakdown for each economy, listing the tariffs it imposes on imports (by product group) as well as the tariffs it faces for exports to major trading partners.
A new section covers the use of non-tariff barriers and the special topic in this year’s issue is the 2017 version of the Harmonized System nomenclature for classifying goods, which will enter into force Jan. 1, 2016.
Trade Profiles 2016 provides two-page snapshots of key indicators on trade in goods and services for 195 economies. This year’s edition incorporates “Services Profiles,” which was previously published separately.
Each profile begins with a snapshot of the importance of trade for each economy, indicating its world ranking for trade in both goods and commercial services. For trade in goods, data is provided by product category along with the major origins and destinations for these products. Also listed are the most exported and imported goods for each economy, broken down by agricultural and non-agricultural products. For trade in commercial services, data is broken down by services category, major origins and destinations, foreign affiliates statistics, and foreign direct investment in services. The final part of the profile covers industrial property indicators, such as patent applications.