GITNUX MARKETDATA REPORT 2024

World Trade Organization Statistics: Market Report & Data

Highlights: The Most Important World Trade Organization Statistics

  • As of 2021, the World Trade Organization (WTO) has 164 member nations. Source
  • The World Trade Organization (WTO) was established on January 1, 1995. Source
  • The WTO oversees more than 60 agreements, which were written by the member governments and ratified in their parliaments. Source
  • The budget of the WTO for 2021 is 197 million Swiss Francs. Source
  • Approximately 2/3 of WTO members are developing or least developed countries. Source
  • The Dispute Settlement Body of WTO received 40 new cases in the year 2019. Source
  • As of February 2021, there are 369 regional trade agreements (RTAs) in force, notified to the WTO. Source
  • As of May 2021, the least developed countries (LDCs) constituted about 12% of the total WTO membership. Source
  • According to the WTO, in 2020 the volume of world merchandise trade fell by 5.3% due to COVID-19. Source
  • As of 2021, the WTO discusses issues on 22 specialized committees. Source

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Welcome to our deep dive into the world of World Trade Organization (WTO) statistics. As a crucial part of global economic discourse, these metrics offer an invaluable insight into how goods, services, and intellectual property traverse international boundaries. Whether you’re an economist, student, or just a curious individual, understanding these statistics can help frame the interconnected dynamics of our global economy. From tracking worldwide trade trends to analyzing country-specific trade policies, the WTO’s comprehensive database provides an empirical basis for meaningful discussions and thoughtful decisions in the realm of international trade.

The Latest World Trade Organization Statistics Unveiled

As of 2021, the World Trade Organization (WTO) has 164 member nations. Source

Highlighting the fact that, as of 2021, the World Trade Organization (WTO) boasts 164 member nations provides significant insights into the expanding and interconnected landscape of global trade. This robust membership spanning across continents underscores the gravity and impact of WTO’s role in setting and enforcing international trade laws. Moreover, such a vast spread of participation paints a portrait of the collective desire for stable, predictable and equitable trading conditions worldwide. It solidifies the prominence of WTO’s directive in facilitating negotiations, providing a platform for trade disputes and enabling collaboration among diverse economies.

The World Trade Organization (WTO) was established on January 1, 1995. Source

Recognizing the inception date of the World Trade Organization (WTO) as January 1, 1995, adds a vital layer of context to a blog post on the WTO’s statistics. It provides a concrete timeline from which to gauge the evolution and impact of global trading patterns, policies, and regulations in the post-WTO era. With this historical marker, it illuminates the before-and-after picture of the WTO’s implications and its instrumental role in shaping the landscape of international trade, thus better explaining the trends carved out by those pivotal statistics represented in the blog post.

The WTO oversees more than 60 agreements, which were written by the member governments and ratified in their parliaments. Source

Highlighting that the World Trade Organization (WTO) supervises over 60 agreements, crafted and approved by member governments, underscores the extensive reach and regulatory power of the organization. In the blog post tackling World Trade Organization Statistics, this fact is instrumental as it provides an insight into the sheer volume and diversity of international trade policies that exist under the WTO’s umbrella. Moreover, with every agreement being ratified by the member countries’ parliaments, it elucidates the democratic and inclusive nature of the organization’s operations, reinforcing each member’s commitment to collective decision-making and shared trade standards. Thus, this statistic underpins the WTO’s pivotal role in shaping global trade dynamics.

The budget of the WTO for 2021 is 197 million Swiss Francs. Source

Envisioning the magnitude of the WTO’s operations is possible by noting the budget allocated to them for the year 2021; a weighty 197 million Swiss Francs. This figure, sourced from credible information, is profoundly relevant as it provides a quantitative perspective of the financial resources entrusted to this entity, hinting at the breadth and scope it oversees. In a blog post exploring World Trade Organization Statistics, such a statistic serves as an illustrative gauge of the WTO’s scale of work, thus allowing readers to comprehend the economic impact and seriousness of the organization’s role within the global stage of commerce and trade.

Approximately 2/3 of WTO members are developing or least developed countries. Source

Delving into the heart of World Trade Organization statistics unveils a critical revelation: Approximately 2/3 of WTO members are dwelling in the developing or least developed phase. This piece of data instigates a profound understanding of the global economic landscape, underscoring the vast disparity between wealthy and emerging economies. It forms the crux of discussions and debates within the WTO, influencing policy formulations and trade rule negotiations. Notably, it highlights the increasing prominence and voice of these developing nations on the world economic platform. Hence, it’s an invaluable compass that steers the future direction of trade liberalisation, shaping an equitable and globally integrated economic structure.

The Dispute Settlement Body of WTO received 40 new cases in the year 2019. Source

Unfolding this intriguing piece of data indicates a surge in conflicts within the global trade ecosystem, as brought to light by the 40 new cases received by the Dispute Settlement Body of WTO in 2019. Integrated into a blog post on World Trade Organization Statistics, it not only demonstrates the dynamic nature of global trade relations but also manifests the WTO’s pivotal role in managing and mediating these complexities. Appraising such a statistic broadens readers’ understanding of the scale and spectrum of international trade disputes, offering them a quantified perspective into the underlying trade tensions that necessitate WTO’s decisive interventions.

As of February 2021, there are 369 regional trade agreements (RTAs) in force, notified to the WTO. Source

The staggering fact of having 369 regional trade agreements (RTAs) in force as of February 2021, as notified to the WTO, sets the stage for a vibrant, interconnected global marketplace. This information underscores the scale and depth of cooperation between nations, highlighting how countries are increasingly leveraging shared economic interests for mutual benefit. In a blog post about World Trade Organization Statistics, this piece of data becomes a compelling showcasing of WTO’s foundational role in fostering global trade ties. It also underscores the potential opportunities and challenges inherent within these agreements, which directly influence international economic policy, economic growth, and the dynamics of world trade.

As of May 2021, the least developed countries (LDCs) constituted about 12% of the total WTO membership. Source

In the animation of World Trade Organization (WTO) statistics, one morsel of particular enthusiasm unfolds the existence of Least Developed Countries (LDCs) constituting around 12% of the total WTO membership as of May 2021. This statistic is of profound interest, as it peels back the layers on the representation of the world’s most economically vulnerable nations within a powerful international economic institution. It fuels discussions on the inclusiveness and equitability of global trade rules and decision-making, underlining the need for continued debate and action to ensure the sufficient consideration of LDCs’ interests within the WTO’s corridors of power. Not to mention, this metric also helps push for economic advancements by voicing the trade-related concerns and aspirations of these nations on a dynamic global stage.

According to the WTO, in 2020 the volume of world merchandise trade fell by 5.3% due to COVID-19. Source

In the midst of a global pandemic, this intriguing statistical detail from the World Trade Organization embellishes the narrative with a stark illustration of COVID-19’s impact on the world. Drawing from 2020 data, the 5.3% contraction in the volume of global merchandise trade stands as a concrete testament to the disruptive force the virus has been on global economic flows. This revealing figure provides a valuable context for discussions about the scale and spread of trade disruptions, offering a numerical grounding for abstract discussions about the challenges faced by the WTO and international economy during this turbulent period.

As of 2021, the WTO discusses issues on 22 specialized committees. Source

In the vibrant tapestry of World Trade Organization Statistics, the fact that ‘As of 2021, the WTO discusses issues on 22 specialized committees’, serves as a potent testament to the extensive reach and the comprehensiveness of WTO’s efforts. Hosting conversations across a dauntingly broad spectrum, these committees aim to promote global trade harmony through a plurilateral approach. They each shed light on various intricate facets of international trade, ranging from agriculture and subsidies to intellectual property rights and e-commerce. These robust conversations act as the backbone to WTO’s surveillance function, fostering transparency, encouraging continued dialogue, and driving crucial changes in international trading system, all reflecting in the fluctuations and nuances captured by WTO’s revealing statistics.

Conclusion

The World Trade Organization’s Statistics offers invaluable insights into the global economic landscape. They provide comprehensive metrics that shed light on trading patterns, economic policy impacts, and the shifting dynamics of the global marketplace. Understanding these figures not only assistance in grasping the complex web of international trade but also propels informed decision making for businesses and policy makers. Despite the myriad of challenges posed by globalization, such statics underline the unassailable importance of trade as a propeller of economic development and prosperity.

References

0. – https://www.www.wto.org

FAQs

What is the World Trade Organization?

The World Trade Organization (WTO) is an international institution that oversees the global trade rules among nations. It was established in 1995, replacing the General Agreement on Tariffs and Trade (GATT). The WTO is responsible for negotiating and implementing new trade agreements, and is in charge of settling trade disputes.

How many members does the WTO have?

As of 2022, the World Trade Organization has 164 members. These include a wide variety of countries from all regions of the world, representing more than 98% of global trade.

What is the primary purpose of the WTO?

The primary purpose of the WTO is to promote and facilitate international trade. It provides a forum for negotiating trade agreements, it handles trade disputes, it monitors national trade policies, and it provides assistance and training for developing and transitional economies.

How does the WTO resolve trade disputes?

The WTO has a structured and legally binding procedure for the settlement of trade disputes. If a member state believes that another has violated trade agreements, it can initiate a case against that country in the WTO. The WTO then follows a set process, which often involves consultations, panels, and opportunities to appeal, to review and adjudicate the case.

Can non-member countries trade with member countries of the WTO?

Non-member countries can indeed trade with member countries of the WTO. However, non-member countries are not privy to the benefits of the WTO's system of dispute resolution and they are generally not party to the same network of agreed trade obligations and rights.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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