*Majid Al-jameel from Geneva
Saudi Arabia ranks 13th among the world's 15 largest economies in exports to developing countries in 2017, followed by the UAE as "a hub for import and re-export" in the 14th place, according to figures published by the United Nations Conference on Trade and Development "UNCTAD" from its headquarter in Geneva yesterday.
The UAE was ranked 14th among the world's 15 largest economies by imports from developing countries, while Saudi Arabia did not appear on the list.
According to UNCTAD figures, Saudi Arabia exported $ 152 billion worth of goods to developing countries, while the UAE exported goods worth $ 151 billion.
The UAE imported $ 146 billion from developing countries.
In the field of imports from developing countries, the United States topped the list of 15 with imports of 1.296 trillion dollars, and China in second place of 988 billion dollars.
But in the area of exports, the United States and China exchanged their positions, with Beijing ranking first in exports to developing countries of 1.305 trillion dollars and the United States in second place of 806 billion dollars.
World trade trends
The annual report of "UNCTAD" (103 pages) stated that the world trade in goods returned in 2017 to the growth figures, after two years of decline, with an increase of 10 per cent over 2016, and exports amounted to 17.7 trillion dollars.
In 2018, exports are now reaching a record high of $ 19.6 trillion.
By comparison, world exports in 1995 were in the range of $ 5 trillion, which quadrupled in 23 years.
Most of the world's economies contributed to the boom in international merchandise trade, with the exception of Switzerland-Liechtenstein, Luxembourg, Jordan, North Korea, some African economies and small island countries.
Among the major exporting economies, strong increases were recorded in 2017 in South Korea "15.8%" and the Netherlands "14.1%".
The four major exporting countries of the world, which are China, the United States, Germany and Japan, experienced growth rates of between 6 and 9 per cent.
The transition economies recorded "the republics independent of the former Soviet Union and of the Eastern European bloc under the Soviet Union," which is a particularly strong increase in exports 24 per cent and imports 21 per cent.
In developing economies in Africa and America, the surge in world trade was evident on the export side, with African exports increasing by 16 per cent, with double the speed of imports.
In contrast, imports in developing economies in Asia and Oceania (Australia, New Zealand and the Pacific Islands) increased faster than exports.
In developed economies, exports and imports rose relatively moderately, each at about 9 per cent.
Evolution in trade imbalances
The UNCTAD report reveals a global trade imbalance, as the monetary value of goods exported by the developing and transition economies to the world in 2017 was higher than the value of the goods they imported.
Quite the opposite is true for developed economies.
However, from 2015 to 2017, the average annual surplus of developing economies was $ 355 billion, which is actually about $ 127 billion less than in the previous three years.
At the same time, the annual deficit of developed economies fell from $ 742 billion to $ 680 billion.
In general, North-South trade has become more balanced.
Form of the trade network
As for the shape of the global trade network, the largest bilateral trade of goods in the world between China and the United States and between their respective economies has taken place.
In 2017, the United States imported goods valued at $ 526 billion from China.
Also, $145 billion worth of goods traveled from the United States to China.
China's total trade with the SAR of Hong Kong, Japan, Taiwan and South Korea totaled $ 1.1 trillion.
In contrast, US trade with Mexico and Canada was roughly the same as the $ 1 trillion.
At the continental level, trade within the single continental region was more pronounced in Europe.
In 2017, 68 per cent of all European exports were exported to trading partners on the continent itself.
In Asia, this rate was 59 per cent.
By contrast, in Oceania, Latin America, the Caribbean, Africa and North America, most trade took place with countries outside the region.
