Trade in the Global Economy 1. Figures 1-2 and 1-7 rely on data from the year 2006, and Figure 1-6 relies on data from 2005, to map worldwide trade, migration, and foreign direct investment. Updated data for migration and foreign direct investment were not available at the time of writing this chapter, but are available for worldwide trade. In this question you are asked to update the numbers for world trade shown in Table 1-1. a. Go to the World Trade Organization website at www.wto.org and look for their trade data under “Resources” and “Statistics.”1 Look for the most recent edition of their International Trade Statistics publication, then go to “Trade by Region” and find the Excel spreadsheet with “Intra- and Inter-regional Merchandise Trade.” Print out this table. If you cannot find the website or spreadsheet, use the 2005 table for “Intra- and Inter-regional Merchandise Trade,” which is printed below: b. From this table, what is the total amount of trade within Europe? What percentage is this of total world trade? Answer: $4,695 billion, which is 29.9% of the world total S-3 1 Destination North South & Middle Origin America Central America Europe CIS* Africa East Asia World Value World $2,708 $583 $6,736 $517 $458 $618 $3,903 $15,717 North America 1,015 165 369 16 34 60 376 2,036 South & Central America 169 159 121 9 17 12 101 600 Europe 475 96 4,695 240 186 189 487 6,447 Commonwealth of Independent States (CIS) 36 10 406 135 11 25 77 703 Africa 122 19 218 2 53 14 114 558 Middle East 117 7 126 7 37 122 569 1,021 Asia 775 128 801 108 121 196 2,181 4,353 Source: WTO, International Trade Statistices 2009 Intra- and Inter-regional Merchandise Trade, 2008 (Billions of U.S. Dollars)