In 2014, China kept its position as the world’s largest exporter of goods for the sixth consecutive year. China's share of world exports has exceeded 12.3% - is a new record in history. United States, being the second largest merchandise exporter in terms of gross value, is the largest importer also. Net imports of goods in the US is the largest in the world in nominal terms. In 2014 net imports of goods in US was $787 bln, $610 bln more than the second-largest world’s merchandise net importer – United Kingdom. The third world’s country by the amount of net imports is India (143 billion dollars as of 2014).
Japan, which was on the top of the ranking of world’s net exporting countries 30 years ago, in 2011 became a net importer of goods for the first time since the early 1980s. By the end of 2014, Japan's net imports increased to 138 billion dollars and the country has become the fourth largest in the world in terms of merchandise net imports.
Explore how the structure of the world’s exports and imports has changed over the years. Select the country, geographic region or country group in the list to see the trends on the graph below the page.
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On March 8, 2018, US president Donald Trump issued two proclamations to adjust US imports of aluminum and steel from all countries except Canada and Mexico, key regional allies and trade partners. President Trump asserted that a 25 percent tariff on steel “articles” and a 10 percent tariff on aluminum articles are necessary for the US to develop its domestic steel and aluminum industries and to protect and create jobs. The US is the world's largest importer of the steel and aluminum articles covered by the proclamations. The import value of steel articles has declined twofold in the last two years, yet remains 32 percent greater than in 2009...
Until the liberalisation of 1991, India was largely and intentionally isolated from the world markets, to protect its economy and to achieve self-reliance. Foreign trade was subject to import tariffs, export taxes and quantitative restrictions, while foreign direct investment (FDI) was restricted by upper-limit equity participation, restrictions on technology transfer, export obligations and government approvals; these approvals were needed for nearly 60% of new FDI in the industrial sector. The restrictions ensured that FDI averaged only around $200 million annually between 1985 and 1991; a large percentage of the capital flows consisted of...
Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries' trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored. All WTO members are subject to review, with the frequency of review depending on the country's size. Date: 26-28 March 2018 Event holder: World Trade Organization