Developing economies

Developing economies recorded a 14 per cent decrease in merchandise exports in value terms and a 13 per cent decrease in imports in 2015. Latin America, the Middle East and Africa continued to be negatively affected by the decline in the prices of fuel and other commodities. Developing countries in Europe and Asia, which recorded positive but slowing growth in exports in 2013 and 2014, registered declines in 2015. As a result, developing economies’ participation in world merchandise trade showed little change in 2015. Their share in exports declined very slightly to 43 per cent while their share in imports remained at 41 per cent.