03.Sep.2010 | Trade crisis over says WTO
Despite signs of slower quarterly growth on the broader view trade has clearly bounced back to a near full recovery show new figures from the World Trade Organisation.

World merchandise exports rose by 25.8% in value over the second quarter compared to a year ago, after rising by 25.7% in the first quarter—equating to roughly 25% year-on-year (YoY) growth in the first half of 2010, albeit still just below 2008 "pre-crisis" levels. Yesterday, WTO Secretary-General Pascal Lamy said the data shows that the "world has emerged from the global economic crisis". He said the WTO forecasts global trade volume to grow by 10% this year, after it contracted by 12% last year.

Second quarter growth was especially strong in Asia and the FSU (former Soviet Union) states at 37.5% and 43.9% YoY, respectively. North American trade rose by 28.5% YoY in Q2 while Europe's quarterly trade expanded at a slower 13.2%. The FSU showed very strong export growth in the quarter at 44%. Asia's import volumes rose by 35% in the quarter. Thirty-five percent growth was also registered in Q2 exports from Asia, Africa and the Middle East.