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Source: WTO.
International Trade, Developing and Developed Countries, 1970-2000
The global trade has grown from $US 292 billion in 1970 to $US 6,186 billion in 2000, a growth of 2,018% in 30 years; 45.5% between 1990 and 2000. Regional variations are also noted, notably between developed and developing countries as participation to international trade is becoming an increasing attribute of developing countries, notably in Pacific Asia. They have benefited tremendously from the opportunities provided by improved distribution networks. The share of developing countries in the value of trade grew from 24% in 1970 to 32% in 1993. However, a ceiling of about 33% was reached in 1980 because of the second oil shock (Iranian revolution). The share of developing countries, including oil-exporting countries, was then artificially increased because of inflated oil prices. From 1990, with the oil counter-shock, the price of petroleum went down, reducing this balance to a range between 27 to 30%.