Trade monitoring

The year 1998 marks five decades of the multilateral trading system. For 50 years, the GATT and now the WTO have provided the framework for the conduct of trade relations in a world of growing complexity and interdependence – a world where trade has increased seventeen-fold since the founding of the system and foreign direct investment has grown five-fold in the last decade alone. At the same time, the forces of globalization have brought extraordinary new opportunities. It is true, of course, that the upward trend in world output and trade has not been even or uninterrupted throughout the post-war period. Indeed, there have been times of difficulty and disruption, posing serious challenges for policy makers. The current economic crisis, affecting much of Asia and Russia, and exerting pressure on the economies of many other countries in different regions, constitutes one of the most challenging sets of circumstances to have confronted the world economy in many decades. The financial crisis in South-East Asia, the recession in Japan, slower growth in Asia more generally, as well as in various countries in other regions, and the economic crisis in Russia, have combined to create economic conditions in which the global economy could enter a period of contraction. If judicious policies are brought to bear, however, calming the fears of investors and restoring stability in the financial sector, there is a good chance that while the world economy will suffer slower growth, accompanied by a painful adjustment process in some countries, a deep global depression is avoidable.

Financial and economic turmoil has shaken much of the world in the last few months, affecting most of Asia and Russia in particular, and presenting new challenges for many other countries. This crisis calls for a sense of collective responsibility, as urgently as at any other time in the post-war period. From the perspective of the global trading system, this means three things. First, it requires a clear and continuing commitment by governments to the multilateral trading system and a firm resolve to resist protectionism. Second, a fresh impetus toward trade liberalization would contribute to the resolution of the crisis and would send a positive signal to the markets. Third, renewed efforts to bring the countries outside the system, including Russia and China, into the World Trade Organization would help to complete the global economic architecture for which the need has been so strongly demonstrated.

"International Trade Statistics" provides a detailed overview of the latest developments in world trade, covering both merchandise and services trade as well as trade measured in value-added terms

The "World Trade Report" is an annual publication that aims to deepen understanding about trends in trade, trade policy issues and the multilateral trading system.

Monitoring of national trade policies is a fundamentally important activity running throughout the work of the WTO. At the centre of this work is the Trade Policy Review Mechanism (TPRM). All WTO members are reviewed, the frequency of each member’s review varying according to its share of world trade. For each review, two documents are prepared: a policy statement by the government under review, and a detailed report written independently by the WTO Secretariat. These two reports, together with the conclusions of the Chair of the Trade Policy Review Body, are published shortly after the meeting.

"Trade Profiles" provides two-pages snapshots of the most relevant indicators on merchandise trade, services and intellectual property for over 200 economies, including all WTO members.

This annual report by the Director-General looks at the latest trade policy measures undertaken by WTO members and observers. These includes measures that facilitate as well as restrict the flow of trade. It is one of two trade monitoring reports published each year covering the whole WTO membership. This trade monitoring function is overseen by the WTO's Trade Policy Review Body.

This site provides a searchable database on international trade in merchandise and commercial services. The data are presented according to the product definitions and regional groupings specified in the technical notes.