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In this topic video we look at the geographical and commodity pattern of trade using data from the 2019 World Trade Review. Patterns of trade evolve over time as countries develop and build new comparative advantage in both goods and services.
One key change in global trade is the rise in South-South trade. According to the WTO, from 2011, developing economies’ exports to other developing economies surpassed its exports to developed economies. “South-South” trade represented an estimated US$ 4.28 trillion or 52% of total developing economies’ exports in 2018.
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