Saudi Arabia ranked 17th in the list of leading countries in the field of global trade, as its exports increased by 7% last year and its imports increased by 17%.
Saudi Arabia ranked 17th in the list of leading countries in the field of global trade.
This came during a press conference held recently by World Trade Organization Director-General Roberto Azevedo to launch the organization's report on global trade trends.
This came during a press conference held recently by World Trade Organization Director-General Roberto Azevedo.
Global growth
The report shows that global trade grew modestly in 2014 at 2.8 %, with growth in 2015 expected to reach 3.3 % and in 2016 to reach 41 %.
The report shows that global trade grew modestly in 2014 at 2.8 %, with growth expected to reach 3.3 % in 2015 and 41 % in 2016.
The report added that governments' suspension of protectionist measures, market access, and consensus on global trade rules reforms would boost global trade and seize opportunities for all, emphasizing that 2014 saw developing countries' exports grow by 3.3 %, more than the 2.2 % in developed countries.
The report added that the growth rate of developing countries' exports in 2014 was 3.3 %, which is higher than that of developed countries, which amounted to only 2.2 %.
The Impact of Global Trade
The report added that over the past year, the world witnessed several risks that negatively impacted the growth of global trade including geopolitical tensions, divergent monetary policies, exchange rate volatility, and slower growth in emerging economies.
<p class="p1About the Middle East, the report emphasized that merchandise trade in the region declined by 4% compared to 2013, while services exports from the Middle East increased by 6% and imports increased by 9%.
About the Middle East, the report emphasized that merchandise trade declined by 4% compared to 2013.
