UNCTAD Handbook of Statistics 2017 - International trade in services1 UNCTAD Handbook of Statistics 2017 - International merchandise trade

Fact sheet #2: Trade structure by partner

United States of America

Taiwan Province of China

Republic of Korea

Hong Kong SAR

Germany

Canada

Mexico

JapanChina

100

300

500

Note: Bilateral imports of US$100 billion or more are shown.

a Equal to the group ‘Developed economies: America’ on UNCTADstat.b Equal to the group ‘Developing economies: America’ on UNCTADstat.

0 1 0 2 0 3 0 4 0 5 0 6 0 7 0 8 0 9 0 1 0 0

A f r i c a

No r t he rn A m e r i caa

L a t i n A m e r i c a a n dt h e C a r i b b e a nb

A s i a

E u r o pe

Oc e a n i a

I n t r a E x t r a

Intra-trade is the trade between economies belonging to the same group. Extra-trade is the trade of economies of the same group with all economies outside the group. It represents the difference between a group’s total trade and intra-trade.

In theory, the exports from an economy A to an economy B, should equal the imports of economy B from economy A recorded FOB. In practice, however, the values of both �ows are often different. The reasons for these trade asymmetries comprise: different times of recording, different treatment of transit trade, underreporting, measurement errors and mis-pricing or mis-invoicing.

The exports to (imports from) all economies of the world do not always exactly add up to total exports (imports). The difference is caused by ship stores, bunkers and other exports of minor importance.

Concepts and definitions

Shape of the global trade network

International merchandise trade �ows are to a large extent transcontinental. In 2016, some of the largest �ows ran between China, the United States of America, and Germany, jointly accounting for US$990 billion, 6 per cent of world imports. Considerable trade was recorded also between the United States of America and its neighbours, Canada and Mexico, as well as between mainland China and surrounding economies, including the Republic of Korea, Japan, Taiwan Province of China and Hong Kong Special Administrative Region of China (Hong Kong SAR).

In some regions, economies have developed stronger ties for mutual exchange of goods than in others. In 2016, in Europe more than two thirds and in Asia more than half of all exports were delivered to trading partners in the same region. In Oceania, Latin America and the Caribbean and in Africa this was the case for less than one �fth.

Map 1 Main world import �ows, 2016(Billions of United States dollars)

Figure 1 Intra- and extra-group exports, 2016(Percentage of total exports)

UNCTAD Handbook of Statistics 2017 - International trade in services UNCTAD Handbook of Statistics 2017 - International trade in services 1UNCTAD Handbook of Statistics 2017 - International merchandise trade 1

Note: North refers to developed economies; South, to developing and transition economies. Trade is measured from the export side.

Between North and South US$5.7 trillion(36 per cent)

North-North US$5.8 trillion(37 per cent)

South-South US$4.3 trillion(27 per cent)

Un i t e d S t a t e s o f A m e r i ca

C h i n a

Ge rma n y

U n i t e d K i n g d o m

T h a i l a n d

0 5 1 0 1 5 2 0

L D C s : As ia

C h i n a

I n d i a

S w i t z e r l a nd

U n i t e d A r a b E m i r a t e s

U n i t e d S t a t e s o f A m e r i ca

0 5 1 0 1 5 2 0 2 5

L D C s : A f r i ca a n d Ha i t i

Trade within and between ‘hemispheres’

Out of the total value of US$16.0 trillion of global merchandise trade, US$5.8 trillion, i.e. slightly more than one third, were accounted for by goods exchanged betweendifferent developed economies (North–North trade), while trade among developing and transition economies (South–South trade) accounted for US$4.3 trillion, i.e. slightly more than one quarter. The remaining US$5.7 trillion were comprised of exports from developed to developing and transition economies and in the opposite direction.

With whom do developing economies mainly trade?

In 2016, developing economies delivered most of their exports to the United States of America (US$1.2 trillion), Japan (US$0.4 trillion) and to various developing economies in Asia, mainly China (US$ 0.9 trillion). These represented also the main origins of their imports. For LDCs, the main export markets also included some European economies. LDCs in Asia delivered the largest proportion of their exports to the United States of America, whereas for LDCs in Africa and Haiti the most important export destination was China.

Flows between China, the United States of America andGermanymake up6% ofglobal imports

69% of allEuropean exports remain in Europe

South-South tradeaccountsfor 27%ofglobalexports

Exportsof developingeconomiesto theUnited Statesof America amount toUS$1.2 trillion

Figure 2 Global trade �ows, 2016

Figure 3 LDCs’ main export destinations, 2016(Billions of United States dollars)

For references, see UNCTAD Handbook of Statistics 2017, annex 6.4.