Trade monitoring

In 2012, the WTO participated in the Rio+20 Earth Summit and the XIIIth UNCTAD Ministerial Conference. It continued cooperation with a variety of intergovernmental organizations, including the United Nations, the Organisation for Economic Cooperation and Development (OECD), the International Monetary Fund (IMF) and the World Bank. Together with the United Nations Conference on Trade and Development (UNCTAD) and the OECD, the WTO published reports on trade and investment developments in the Group of 20 (G20) countries.

In 2002, world trade recovered from its steep decline in 2001. From the first through the third quarter, world trade expanded strongly but stalled in the fourth quarter of 2002. The average annual rate of merchandise trade expansion in 2002 was therefore limited to 3% in real terms, only half the rate observed in the 1990s.

The revised WTO Agreement on Government Procurement (GPA) entered into force on 6 April 2014 after two-thirds of its parties accepted the amendment protocol (see page 87). Subsequently, two additional parties also provided their instruments of acceptance. The revised agreement is expected to add US$ 80-100 billion to parties’ market access commitments.