Trade is the long-standing foundation

Trade is the long-standing foundation. In 2004, the volume of world merchandise trade rose by 9 per cent, while global production expanded by only 4 percent. Exports of manufactures expanded even faster, at 10 percent, while output of manufactures rose 4 percent. The World Trade Organisation progected the frowth of world merchandise trade at 6.5 percent in 2005, again faster than the growth of the world economy.