December 2015
Intermediate to advanced
313 pages
16h 2m
English
Content preview from International Business, 2nd Edition by Pearson
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60 International Business
Composition of World Trade
There has been a long-term shift in the composition of world merchandise trade, with the share of manu-
factured goods rising dramatically, against a decline in agricultural products and non-fuel minerals.
The prominent role played by the industrial economies in world merchandise exports up to the 1990s
was closely linked to their very large share in exports of manufactured goods. Manufactures accounted
for just 40 per cent of trade in 1900, but this rose to 70 per cent in 1990 and to 75 per cent in 2000 before
falling back to 64 per cent in 2012. In contrast to manufactures, agricultural ...
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