According to the World Trade Organization (WTO), the top four trading nations for both merchandise exports and imports in 2015 were China, the US, Germany and Japan. China, with total exports of US$ 2.27 trillion had a 14 per cent share of world exports, followed by the US (US$ 1.50 trillion, 9 per cent), Germany (US$ 1.33 trillion, 8 per cent) and Japan (US$ 624 billion, 4 per cent). The WTO’s report also reveals that the ﬁfth biggest exporter was the Netherlands having 3 per cent share at total exports of US$ 567 billion.
Similarly, the United States emerged as the leading importer with imports valued at US$ 2.31 trillion (14 per cent share of the global total), followed by China (US$ 1.68 trillion, 10 per cent), Germany (US$ 1.05 trillion, 6 per cent) and Japan (US$ 648 billion, 4 per cent). The United Kingdom was reported to be the ﬁfth biggest importer of goods, with imports valued at US$ 626 billion (4 per cent of world imports).
Emerging economies – Argentina, Brazil, Bulgaria, Chile, China, Colombia, Hungary, India, Indonesia, Latvia, Lithuania, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Romania, Russia, South Africa, Thailand, Turkey, Ukraine and Venezuela – recorded exports of about US$ 5 trillion (30 per cent of the world total), but 11 per cent lower than the previous year. Russia (32 per cent), India (17 per cent) and Brazil (15 per cent) were the largest among them.
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