Overview of major trade developments in 2006 – WTO reports
12 Apr '07
3 min read
Developing countries' share of world merchandise exports reached an all time record of 36%. The 0.9%,share for least-developed countries was also a record, the highest level since 1980, the earliest data kept by the WTO.
The picture for textiles and clothing is better for small suppliers with preferences in developed country markets than many had feared following the 2005 elimination of quotas and of the WTO's Agreement on Textiles and Clothing.
As expected, China has enhanced its role as the leading supplier. Low and lower-middle income countries have seen their share of world exports of textiles and clothing increase markedly. The richer developing countries, including the newly-industrializing Asian economies (NICs) and Mexico, lost market share.
Some small suppliers also lost shares, but others gained. Overall, in 2006, the least-developed countries increased their shares of developed countries' textiles imports. The fact that China, India and Bangladesh performed well also means that millions of low-income workers benefited.
Click here to read State of world economy & trade in 2006 - WTO Reports