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WTO: Global Trade Volume to Grow 13% in 2010

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WTO recently released the latest global trade environment report and analyzed the varous data from Dec. 2009 to Oct. 2010, including trade situation, employment market, GDP, regional trade protocols and trade barriers.

World Trade Organization forecasted that global trade volume (including goods trade and service trade) would grow 13% in 2010. The statistics show that the global export growth has exceeded the output growth. From 2000 to 2007, the world export trade rose at the pace of 6%, but dropped to 2% in 2008, even negative growth in 2009. The falling pace was 12%. Not untill July 2010, did the world trade recover the precrisis level of June 2008.

The recession of developed countries were worse than that of developing countires in 2009. The export of developed countries dropped 15%, while the volume of developing countries decreased 8%. It is predicted that the export of developed countries might be 11.5%, and 16.5% for developing countries and economies in transition. The strong rebound from Asian developing countries would be the major drive power.

International Monetary Fund (IMF) forecasted that the global GDP growth would decreased from the current 4.8% to 4.2% next year, while the developed countries were 2.2%, developing countries 6.4%. Although many countries witnessed economy recovery, this was not good enough to help the employment market. International Labor Organization (ILO) said that for some high-payment countries, they would not rebound to the 2008 level until 2015. The total figure of people lossing jobs were 210 million now, 30 million more than the precrisis era. Young people were difficult to find a job in many countries.

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