Annual data on merchandise and comm

Annual data on merchandise and commercial services trade in current US dollar terms are presented in Appendix Tables 1 to 6. The dollar value of world merchandise trade stagnated in 2014, as exports rose just 0.7% to $18.95 trillion. This growth rate is lower than the one for merchandise trade in volume terms mentioned above (2.8% for the average of exports and imports), reflecting falling export and import prices from one year to the next, particularly for primary commodities.
By comparison, growth in the dollar value of world commercial services exports was stronger, increasing by 4% in 2014 to $4.85 trillion. It should be noted that the commercial services values are compiled using a new services classification in the balance of payments. Thus, figures are not directly comparable to those from earlier years. Comprehensive annual, quarterly and monthly data on merchandise and commercial services trade can be downloaded from the WTO's website at http://www.wto.org/statistics.
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One striking feature of the merchandise trade values in 2014 is the weakness of trade flows in natural resource exporting regions. The dollar value of exports from South America, the CIS, Africa and the Middle East fell 6%, 5.9%, 7.6% and 3.9%, respectively, as lower commodity prices cut in to export revenues. A sharp drop in imports of South America (-4.2%) reflected recessionary conditions in leading regional economies, while an even steeper decline in CIS imports (-11.2%) stemmed from a combination of factors, including falling oil prices and regional conflict.
For broad country aggregates and regions that do not export natural resources predominantly, trade statistics in volume terms may provide a clearer picture of trade developments. The WTO and UNCTAD jointly produce a variety of short-term trade statistics, including seasonally-adjusted quarterly merchandise trade volume indices. These are shown in Chart 2 by level of development.