Trade monitoring
Report by the WTO Secretariat
Saudi Arabia’s economy continues to be heavily dependent on oil. The review period witnessed a wide range of cross-cutting and sector-specific policy initiatives aimed at modernizing and diversifying the economy. Continuing such initiatives to improve the competitiveness of the non-oil sector remains important.
Report by the WTO Secretariat
This fourth Trade Policy Review of Nicaragua covers the period 2012-20. In recent years, the potential growth of the Nicaraguan economy increased by half a percentage point according to International Monetary Fund (IMF) estimates, thanks to significant infrastructure improvements, especially to transport, telecommunications and the electricity supply. This additional potential growth contributed to average annual real GDP growth of 4.7% between 2013 and 2017. Nevertheless, the Nicaraguan economy has been severely affected by the political and social crisis that began in April 2018 in connection with reforms to the social security system. The crisis has led to job losses and a fall in consumer and business confidence, which, combined with international financial sanctions, caused real GDP to fall by 3.9% in 2018 and 4.0% in 2019. For 2020 and 2021, the IMF estimates that the growth rates for real GDP will be -5.5% and -0.5% respectively, essentially as a result of the effects of the COVID-19 pandemic.
Report by the WTO Secretariat
The Kyrgyz Republic is a land-locked country in Central Asia. Internal transport is hampered by rugged topography and the need for better infrastructure. Current GDP per capita is about USD 1,400. A significant gap in earnings compared with certain neighbouring countries encourages many Kyrgyz citizens, about one third of the workforce, to make their living abroad. Although agriculture still accounted for 18% of GDP in 2019, down from 32% in 2014, the Kyrgyz Republic is increasingly becoming a services economy. Moreover, the Kyrgyz Republic has a sizable informal economy, particularly in activities related to trade, hospitality, transportation, and agriculture, estimated to equal between 24% and 40% of the official GDP.
Introduction
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT CONTRACTING PARTIES in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Introduction
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT contracting parties in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Report by the WTO Secretariat
India’s economic growth continued to be strong for most of the period under review, averaging 7.4% until 2018/19. A number of reforms were implemented, including the introduction of the Goods and Services Tax (GST) to harmonize the indirect tax system; the Insolvency and Bankruptcy Code to address the problem of debt in the corporate sector; banking reforms to improve supervision of banks and non-banking financial companies; and, most recently, legislation to improve marketing and reduce regulation of agricultural products. Trade policy remained broadly unchanged during the period under review.
Report by the WTO Secretariat
Since its previous Trade Policy Review in 2014 and until 2017, Tonga’s economy grew at a strong pace, supported by construction and remittances-fuelled private consumption, as well as by an accommodative monetary policy stance. Real GDP grew on average by 2.35% (FY 2013/14-FY 2018/19) annually, compared with 1.27% (FY 2006/07-FY 2011/12) at the last period. A succession of natural disasters, namely the extensive damage caused by Tropical Cyclones Gita (2018), Tino (2020), and Harold (2020), and the large COVID-19- pandemic-induced contraction in global economic activity brought about a significant economic downturn. Apart from some temporary spikes in 2017-18, inflation remained low, reflecting favourable developments in international food and fuel prices. An Economic and Social Stimulus Package worth TOP 60 million was put in place to fund the National Action Plan for combatting the COVID-19 pandemic.
Report by the WTO Secretariat
The production and exportation of agricultural products are of particular importance for the Argentine economy. Argentina is one of the world’s leading exporters of soya beans and soyabean by-products, maize and sunflowers. It is also a major producer and exporter of other cereals, beef (bovine meat) and dairy products. Value chains have been created for soya beans, maize, meat, sunflowers, dairy products and other products, which significantly contribute to GDP and employment and are major sources of foreign currency. Since Argentina’s previous review in early 2013, the production sectors linked to exports, particularly agriculture, have been the strongest performers. In general, the external sector has continued to play an important role in the Argentine economy. Despite the contraction in exports and the economy in general during the review period, exports have not only contributed to maintaining the balance of payments and preventing a further decline in GDP, but have also been a significant source of public sector financing.
Introduction
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT contracting parties in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Prefacio
El Mecanismo de Examen de las Políticas Comerciales (MEPC), establecido a título experimental por las partes contratantes del GATT en abril de 1989, se ha convertido en un elemento permanente de la Organización Mundial del Comercio en virtud del Acuerdo de Marrakech por el que se estableció esta Organización en enero de 1995.
Aid for Trade and the Sustainable Development Goals
This section provides insight into the role of Aid for Trade in fostering sustainable development and helping developing countries address emerging challenges, such as navigating transitions towards low-carbon economies and accelerating digital transformation. It reviews how sustainability considerations have been embedded into Aid for Trade projects and programmes, and highlights the contribution of Aid for Trade towards various Sustainable Development Goals (SDGs), including SDGs related to gender equality and climate action.
Acknowledgements
Aid for Trade at a Glance 2022 is a joint publication of the Organisation for Economic Co-operation and Development (OECD) and the World Trade Organization (WTO). It was prepared under the overall guidance of (i) at the OECD, Olivier Cattaneo, Head of Policy Analysis and Strategy Unit of the Development Co-operation Directorate, supervised by Haje Schütte, Senior Counsellor and Head of the Financing for Sustainable Development Division and Mayumi Endoh, Deputy-Director for Development Co-operation, and (ii) at the WTO, Michael Roberts, Head of the Aid for Trade Unit of the Development Division, supervised by Deputy Director-General Xiangchen Zhang and Shishir Priyadarshi, Director of the Development Division.
Aid for Trade during the COVID-19 crisis and recovery
This chapter provides an overview of the evolution of Aid for Trade flows in a context marked by the COVID-19 pandemic. It reviews key trends affecting the trade and investment landscape and their repercussions on Aid for Trade flows. Finally, it analyses the role of Aid for Trade in supporting an equitable global economic recovery