Less new trade restrictions
On the 9th of November, the World Trade Organisation (WTO) published a study underlining that G20 economies introduced fewer trade-restrictive measures compared to the previous review period. The estimated trade coverage of these restrictions recorded during the period of mid-May 2017 to mid-October 2017 slightly exceeded the coverage of trade-facilitating measures.
A total of 16 new trade-restrictive measures were adopted by G20 economies during the review period (mid-May 2017 to mid-October 2017), including new or increased tariffs, export restrictions and local content measures. This is an average of just over three restrictive measures per month compared to six during the previous review period (mid-October 2016 to mid-May 2017).
G20 economies also implemented 28 measures aimed at facilitating trade during the review period, including eliminated or reduced tariffs and simplified customs procedures. At an average of almost six trade-facilitating measures per month, this represents a similar level compared with the previous review period and for the whole of 2016.
The estimated trade coverage of import-facilitating measures implemented by G20 economies (US$27 billion) is slightly lower than the estimated trade coverage of import-restrictive measures ($32 billion). This is a reversal from the previous report where the estimated trade coverage of import-facilitating measures was more than three times larger than that of import restrictive measures.
Source: World Trade Organisation
Attachments
In: Growth & Competitiveness, Trade