Geneva, Switzerland (BBN)– The exports of goods and commercial services from least developed countries (LDCs) increased by 5.2 per cent last year but the total share of LDCs in world trade remains marginal, the World Trade Organization (WTO) said.
The total value of LDC exports of goods and commercial services grew by 5.2 per cent, more than twice the world average (2.5%). However, the total share of LDC trade still remains marginal at around 1.23 per cent of the world’s total, according to a WTO report.
The LDCs also face a higher trade deficit as imports increased more than exports in 2013.
Moreover, LDC exports are concentrated in a handful of products and sectors. Developing economies have also become more important as the destination market of LDC exports, receiving 55 per cent of total LDC exports in 2013, up from 40 per cent in 2000.
The report focuses in particular on LDCs’ trade in services. It notes that travel receipts, estimated at $14.2 billion in 2013, continue to account for the majority of LDC exports of commercial services. Transport exports, which reached US$ 7.5 billion in 2013, are an important source of revenue in particular for African LDCs.
The report provides an overview of the market access for LDC products in developing and developed economies as well as the non-tariff measures that affect access to these markets.
Uganda (representing the LDC group) highlighted the challenges faced by LDCs, and called upon members to open up markets for LDC products and to increase aid for trade to LDCs.
It also welcomed the report’s analysis of LDCs’ trade in services and urged members to put the WTO 2011 LDC Services Waiver decision into action. LDCs called for the full implementation of duty-free and quota-free market access for LDC products.
A number of members took active part in the discussion and provided specific comments on the report, which will be taken into account in a revised version.
BBN/SSR/AD-08Nov14-2:27 pm (BST)
