In this question, you are asked to update the numbers for world trade that are shown in Table 1-1.

Go to the World Trade Organization’s website at wto.org, and under “Documents, data and resources,” look for “Statistics” and “WTO Data Portal”; you can also find this site directly by going to data.wto.org. In the Indicators menu, choose “International trade statistics,” where you will expand the menu and choose only “Merchandise trade values” and expand it to choose “Merchandise exports by product group and destination – annual (million U.S. dollars).” In the menus for Reporting Economy and Partner Economy, choose the following regions: World; Africa; Asia; Australia and New Zealand; Commonwealth of Independent States; Europe; Middle East; North America; and South and Central America and the Caribbean. In the menu for Product/Sector, expand it to choose only “Total Merchandise.” Finally, choose the most recent year for which trade data are available. Then click “Apply” on the right screen to show the values of these trade flows between regions, which you can download to Excel if you wish, and answer the following questions:

a. What is the value of World exports to the World? (Even if you choose 2018, you will not get the same total as in Figure 1-2, because the sources of the data are different.)

b. What is the total amount of trade within Europe? What percentage of total world trade is this?

c. What is the total amount of trade (in either direction) between Europe and North America? Add that to the total trade within Europe, and calculate the percentage of this total to the world total.

d. What is the total amount of trade within the Americas (i.e., between North America, Central America, South America, and within each of these regions)? What percentage of total world trade is this?

e. What is the total value of exports from Europe and the Americas, and what percentage of the world total is this?

f. What is the total value of exports from Asia, and what percentage of the world total is this?

g. What is the total value of exports from the Middle East and the Commonwealth of Independent States[1], and what percentage of the world total is this?

h. What is the total value of exports from Africa, and what percentage of the world total is this?

i. How do your answers to (b) through (h) compare with the shares of worldwide trade shown in Table 1-1?

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Origin Africa Asia Australia and New Zealand Commonwealth of Independent States (CIS), including associate and former member States Middle East North America South and Central America and the Caribbean World Destination Africa Australia Asia and New Zealand $2,542 $71,976 $115,012 $2,134 $21,106 $34,111 $166,713 $3,103,534 $160,008 $101,912 $237,353 $1,115,144 $157,829 $3,764 $213,619 $2,394 $13,048 $393 $5,337 $15,361 $19,458 $107,407 $255 $92,993 $15,440 $21,203 $8,474 CIS $35,054 $419,945 $4,647 $25,604 $520,396 $31,513 $11,748 $15,658 $180,462 $2,332 $6,874 Middle North East America Data from: WTO, International Trade Statistics 2017. South & Central America $7,798 $6,396 $128,673 $66,588 $5,862 World $422,023 $6,382,007 $269,206 $517,604 $938,634 $69,227 | $1,190,486 | $174,486 | $2,376,513 $17,497 $132,519 $131,044 $585,862 $17,728,520