Global exports rise to record 14.5 percent

Exports jumped 14.5 percent last year the biggest rise recorded since 1950 as economies rebounded from the global downturn, the World Trade Organisation said Thursday. Cross-border trade is expected to recover further in 2011, the WTO said in its annual report. Based on a 3.1 percent rise in gross domestic product world-wide.
The Geneva-based body predicts exports will grow another 6.5 percent this year, slightly above the 6 percent yearly average between 1990 and 2008. But uncertainty about the economic aftershocks of the Japan earthquake and the impact of political unrest in the oil-rich Middle East are adding a measure of uncertainty to the forecast.
WTO chief Pascal Lamy said trade helped the world escape the recession of 2009, when exports fell 12 percent as the world suffered a dramatic economic downturn. But he warned that that many rich countries are still experiencing hangovers from the slump. "High unemployment in developed economies and sharp belt-tightening in Europe will keep fuelling protectionist pressures," Lamy said. His comments come as prospects appear dim for a global trade deal to conclude the so-called Doha Round of commerce liberalisation.
The United States saw exports grow 15.4 percent in 2010 after a drop of 14 percent the year before, putting it roughly back at 2008 levels. Japan, too, recovered to pre-crisis levels, with a 27.5 percent rise in exports making up for the sharp 24.8 percent decline in 2009. China, the world's biggest exporter, saw exports surge 28.4 percent in 2010, easily making up for the 10.5 percent loss a year earlier.
European Union countries lagged behind, achieving export growth of just 11.4 percent after a drop of 14.5 percent in 2009. The WTO's annual figures reflect trade volumes in real terms adjusted for changes in price and exchange rates.