Recent trends in international trade

The world economy grew at 4 per cent in 2004, the strongest annual growth rate in more than a decade. Global GDP last year was also more broadly based regionally than in the three preceding years, providing a solid basis for an acceleration in world trade growth. World merchandise trade rose by 9 per cent in real terms in 2004, the best annual performance since 2000, and more than twice as fast as world output (GDP measured at market rates) in 2004. Trade growth in 2004 also significantly exceeded average trade growth recorded over the last decade.