Vietnam was the only country among the WTO’s top 30 exporters to see growth in exports last year. (Photo: en.nhandan.com.vn)
was the only country among the World Trade Organization (WTO
)’s top 30 exporters to post an increase in the value of its goods exports last year, which grew 7.9% to $162 billion, WTO has said in a report.
It was also the only nation among the top 30 importers of goods to notch an increase, with the value of its imports up 12.3% to $166 billion, Roberto Azevedo, WTO director-general, said at the launch of the agency’s “World trade in 2015 and outlook for 2016” report.
Together with Bangladesh and Cambodia, Vietnam recorded a robust pickup in the value of apparel shipments while many major traditional apparel exporting nations such as China, Turkey and Italy posted declines.
According to WTO, the value of global trade in goods fell 13.2% to $16.5 trillion, with China posting a 2.9% decline to $2.27 trillion, followed by the U.S. with a 7.1% decrease to $1.5 trillion and Germany with an 11% contraction to $1.3 trillion.
The WTO expects world trade volume in goods will grow a sluggish 2.8% in 2016, down from the 3.9% rise projected in September, with import demand in the U.S. and the European Union expected to outpace that of emerging economies.