We live in a world where everything and everyone moves fast and faster. In the last few years, the movement of goods and services worldwide has registered unprecedented changes that have led to registering all times records, which even the most optimistic analysts couldn’t forecast a couple of decades back. Such flows and movements are the synonyms of connected economies and countries. It also means that nowadays, it’s of utmost difficulty if not an impossibility to remain unconnected and not part of the global flow of goods and services in a way or another.
According to the World Trade Organization, the movement of goods has reached $15 trillion in 2017 and has registered a growth of 0.2% in the first quarter of 2018. If we take a more in-depth look, the world has a recorded value of $35 trillion in 2017 that includes imports and exports. In other words, the movement of goods and services has reached $45 trillion in 2017 which represents 33% of global GDP. Here comes the importance of global logistics which are responsible for facilitating the transportation of more than 90% of global trade.
Trade in goods and services refers to the change in ownership of material resources and services between one economy and another. The indicator comprises sales of products and services as well as barter transactions or goods exchanged as part of gifts or grants between residents and non-residents. It is measured in a million dollars and as a percentage of GDP for net trade and also annual growth for exports and imports.