II. Trade And Development: Recent Trends And The Role Of The WTO
II. Trade and development:recent trends and the roleof the WTOThe World Trade Report 2014 looks at how manydeveloping economies are successfully leveragingtrade for rapid growth. It focuses on four recent tradetrends – the rise of new global players, the spread ofproduction chains, increasing commodity prices, andgrowing economic interdependence. These trendsare transforming the way developing economiesbenefit from global economic integration. The rules,flexibilities, technical assistance and institutionalinfrastructure of the WTO have been helpful fordeveloping economies to take advantage of, adaptto and mitigate risks arising from these four trends.The multilateral trading system itself will also needto continue to adapt, so that it can serve to realizethe full development potential inherent in the worldeconomy’s ongoing transformation.
ContentsAIntroduction40BThe increasing importance of developing countries in the global economy52CThe rise of global value chains78DA new role for commodities in development strategies128EIncreased synchronization and globalization of macroeconomic shocks170FThe WTO and developing countries188GConclusions209
world trade report 2014A. IntroductionGlobalization is transforming development.This section examines how, in its scope andspeed, the recent rise of the developing world isunprecedented – eclipsing the rise of the newlyindustrializing countries after the Second WorldWar, and dwarfing the earlier rise of Europe andNorth America in the late 19th century. Thereare many reasons why the developing world hasachieved economic lift-off. One of the most importantis its integration into the world economy – and thenew access to markets, technology and investmentthat has resulted. This rise of the developingworld is one of four recent trends that holds newdevelopment opportunities while also bringing newchallenges. The same is true for three other trendsidentified here: the spread of production chains,high commodity prices, and growing economicinterdependence.40
II. Trade and development: recent trends and the role of the WTOA. IntroductionContents1Four recent trade trends422Development and trade: an historical analysis44Some key facts and findings Four new trends have affected the relationship between trade and development sincethe start of the millennium. As a result, new opportunities and challenges havearisen, particularly for developing countries. The four trends are the economic growth of many developing countries (Section B),the growing integration of global production through supply chains (Section C),the higher prices for agricultural goods and natural resources (Section D) andincreasing interdependence of the world economy, which causes shocks toreverberate more quickly and globally (Section E). This changing trade anddevelopment landscape in turn has implications for the WTO (Section F). Since the Industrial Revolution, economic development has widened, deepened andaccelerated. In the 19th century, it spread quickly from England to Western Europeand North America. After the Second World War, Japan and newly industrializingeconomies rapidly caught up, and starting in the 1980s, much of the rest of thedeveloping world began a process of even more rapid industrialization. These episodes of development were accompanied by increases in trade, spurred byreductions in trade barriers and costs. During periods of trade repression, such asbetween the two world wars, economic growth was more subdued.41
world trade report 2014The rise of the developing world is the most significanteconomic event of our time. Partly because of the shift tomore outward-looking economic policies, partly becauseof the impact of new transport and communicationstechnologies, and partly because the world economy is moreopen than ever before, emerging economies have been ableto harness globalization to achieve unheard-of rates ofeconomic growth – with 11 economies, representing halfthe world’s population, growing collectively at over 6 per centa year since 2000.1 Since 1980, the developing world’s shareof global trade has grown from a third to almost half. China,to take the most obvious example, is now the world’s largestexporter; thirty years ago it ranked 32nd. Most developingcountries have seen their economies grow in tandem with theirdramatically increasing shares of world trade. China, with its1.35 billion people, has seen its economy grow at an averageof 10 per cent per year for the past three decades. India, withits 1.2 billion people, grew at 7.5 per cent a year between2000 and 2011, although progress has recently slowed.While these emerging giants have captured the lion’s shareof attention, this remarkable story of trade-led developmentincludes countries of all sizes and regions – from Indonesia,Ethiopia and Chile, to Cambodia, Ghana and Qatar.Economic growth is not the only condition for development,but it is a necessary condition – which explains why manyof these same countries are also making enormous stridesin improved health, educational attainment, living standardsand poverty reduction. As the United Nations observedin 2013, “never in history have the living conditions andprospects of so many people changed so dramatically andso fast” (United Nations Development Programme, 2013).At the same time, the recent slowdown of several – thoughcertainly not most – developing countries in the aftermathof the Great Recession of 2008-09 is a reminder thatfuture progress is neither inevitable nor irreversible.Successfully integrating into a turbulent, volatile, everchanging global economy is a difficult process fordeveloping countries, made even more challenging by theneed to share out domestically the benefits and costs ofeconomic growth and adjustment if political support fortrade opening is to be sustained. A number of economicand political obstacles – whether self-inflicted or inflictedby others – could still prevent developing countries fromcontinuing along their current growth trajectory.42More than anything, the continued rise of developingcountries will depend on maintaining an open globaleconomy. This task too has become more challenging,even as it has become more important. Just as expandingtrade is transforming development – opening up new exportopportunities, improving access to capital and resources,and stimulating technological diffusion, adaptation andinnovation – so too is the rise of the developing worldtransforming the trading system. Fast-emerging economiessuch as China are generating enormous new demandfor raw materials and manufacturing inputs, pulling otherdeveloping economies into their slip-stream, while providingnew markets for industrialized countries’ machinery, servicesand technologies. Developing economies may be increasingtheir share of world trade, but everyone’s trade is growing.However, the vertiginous rise of new trade giants requiresthat all economies, developed and developing alike, adjustand adapt. The result is a more complex, multi-speed, multipolar world economy.It is not just trade power that is shifting but trade relations aswell. The expansion of global supply chains – where nationaleconomies form links in globally integrated production systems– is dramatically deepening economic interdependence. Sotoo is the growth of services trade in recent years. In a worldgrowing more, not less, interconnected, the global rulesand policy coordination provided by the multilateral tradingsystem are more necessary than ever.1.Four recent trade trendsThe first of the four trends highlighted in this report is theeconomic rise of developing and emerging economies,which is explored in depth in Section B. Not coincidentally,the rising living standards in developing regions since 2000have gone hand-in-hand with rising shares in world trade forthese countries. By embracing a policy of trade opennessand integration, these countries now have access not justto the capital, technology, and resources needed to fuelrapid industrialization, but to vast and expanding overseasdemand for their surging exports.The old patterns of world trade dominated by theadvanced economies in the North are being transformedas emerging economies in the South become new poles oftrade expansion. Since 1990, South-South trade – that is,trade among emerging and other developing economies– has grown from 8 per cent of world trade in 1990 toaround 25 per cent today, and is projected to reach 30 percent by 2030. Trade corridors between Asia and NorthAmerica, and between Asia and Europe, now surpassthe old transatlantic trade corridor, while trade corridorsbetween Africa and Asia or Latin America and Africa aregrowing in importance. Even as the South’s share of worldtrade expands, world trade as a whole continues to grow,meaning that developing countries have ever-richer andmore diverse markets for their exports. In short, the rise ofnew trade powers is a positive sum game.But despite these gains, developing countries still havea long development path ahead of them, since theyfall short of industrial countries on a large number ofimportant economic indicators. Significant proportions oftheir populations still live below the poverty line. Incomesin emerging economies are still a fraction of those indeveloped economies. While the export success oftoday’s emerging economies highlights new opportunitiesand paths for other developing countries, the pace of growthamong developing countries remains uneven. Some areexperiencing high and sustained growth, others are strugglingto move beyond middle-income levels, while still others maybe falling behind. This report sheds light on the growingimportance of developing countries in the world trading
II. Trade and development: recent trends and the role of the WTOsystem, and explores how the WTO can play an increasinglycentral role in advancing their various development objectives.Whereas, in the past, value chains were mainly NorthSouth arrangements, South-South value chains are nowexpanding as well. For developing economies, value chainscan lower the bar for entry into the global economy by linkingthem to established trade networks, thus lowering thecosts of economic integration, and allowing them to focuson the products or sectors where they have a comparativeadvantage, without the need for a comprehensive industrialbase. Value chains are also influencing the trade integrationstrategies of developing economies.While the average import content of exports is around25 per cent – and increasing over time – and almost30 per cent of merchandise trade is now in intermediategoods or components, increasing exports now directlyhinges on increasing imports and on removing obstacles toimported inputs. Since value chains involve the integrationof production platforms, not just cross-border trade flows,these obstacles can involve everything from tariff barriersand transport bottlenecks to differing standards, investmentrestrictions and inefficient service suppliers. The emergingworld of “unbundled production” offers an important newchannel for trade growth and development, while at thesame time highlighting differences in countries’ capacity tointegrate – or in the quality of their integration – as well asthe costs of remaining on the margins.A third major trend, examined in Section D, is the rising priceof agricultural goods and natural resources since 2000.With some of the fastest-growing developing economies inthe Middle East, Africa and Latin America recently havingbecome commodity-rich exporters, attention has nowshifted from how developing economies can diversify outof resources to how they can strengthen their comparativeadvantage in resources, benefit more (and more widely)from them, and reduce the adverse impact of the boom andbust cycles that typically characterize these markets. Thissection identifies a number of key issues to be addressed ifdeveloping economies with actual or potential comparativeadvantages in agriculture or natural resources are to exploithigher commodity prices. These include reducing new andless transparent forms of trade protection, guaranteeingadequate rates of return on natural resources andaddressing the social and environmental issues critical toinclusive and sustainable growth.A. IntroductionA second, related, trend, explored in Section C, is the growingintegration of global production – especially the rise ofsupply chains – which is transforming the nature of tradeand the way developing countries “connect” to the globaleconomy. A combination of reduced transport and logisticscosts, improved information technologies and more openeconomies have made it easier to “unbundle” production, notonly within countries, but across a range of them. Four-fifthsof world trade are now channelled through multinationals thatlocate various stages or tasks of the production process inthe most cost-efficient locations around the planet.As the world economy has become more interconnectedthrough trade, investment, technology and people flows, ithas also become more interdependent. This is the subjectof Section E. Just as the economic benefits of wideningand deeper integration now spread more quickly acrosscountries and regions, so too do the economic costs, asexemplified by the way in which the shockwaves from the2008 financial crisis and the subsequent economic downturnreverberated globally. Policy decisions in one country canhave simultaneous and often unintended spill-over effectsin many distant countries. These spill-overs can becomemajor setbacks for developing economies, especially for thesmallest and poorest countries, which lack adequate shockabsorbers and are the most vulnerable to economic volatility.However, there are also major benefits that flowfrom growing global economic interdependence anddiversification. Without strong and robust growth in thedeveloping world after 2008, especially in China and India,the economic fallout from the recent global downturnwould have been much worse. Unlike during past crises –such as that of the 1930s – the world economic systemproved surprisingly resilient in the face of the GreatRecession of 2008-09. Section E explores the lessonswe have learned from the recent crisis regarding reducingrisks and promoting security in times of global turmoil.Sections B to E follow similar structures in examining theopportunities and challenges that these four trade trendspresent to developing countries. They first provide broad,“stylized” facts about these trends and their determinants.Subsequently, the development implications of the trendsare analysed, clarifying how participation in supply chains,increasing commodity prices and the global recessionhave played a significant part in different developmentpatterns across countries in the last 15 years. Finally, thesections identify policies that have proved successful foremerging economies. This highlights the obstacles thatneed to be removed if other developing countries are tobenefit from these trends, and the additional policies thatmay be needed to maximize benefits and reduce risks.Building on this analysis, Section F shows how existingWTO rules and practices address development challenges,and how flexibilities currently available to developing andleast-developed countries in these trade rules can helpfacilitate their integration.Expanding trade may be essential for development butit is hardly sufficient. Countries that have succeeded intransforming trade and economic growth into inclusive,sustainable and broad-based development – whethermeasured in terms of improving health, rising education,increasing opportunities for women, or decreasingpoverty – have also pursued a range of policies thatnot only share the gains (and costs) of trade opennessbut ensure that societies are equipped to benefitfrom global economic integration. While such policies arelargely beyond the scope of this study, the report does considerincome distribution – not including income per capita – and43
world trade report 2014Figure A.1: Per capita GDP for selected economies, 1840-2012(1990 International Geary-Khamis dollars)40,00035,000Per capita at Britain1880Germany19001920United States1940JapanChina1960India19802000Republic of Korea2020BrazilSource: Maddison Project and IMF.environmental quality as dimensions of development. Thisbroad perspective is also useful in understanding how themultilateral trading system can contribute to creating a moreinclusive and environmentally sustainable development, andthus reinforce popular support for further trade opening andglobal economic cooperation.The sheer scope and scale of the latest wave of globaleconomic development may look revolutionary but it is infact evolutionary, building on trends that began 200 yearsago during the Industrial Revolution. The following sectionlooks at these trends from an historical perspective, notonly to better understand the relationship between tradeand development, but to speculate where the process maybe heading in the years ahead.2.(a)Development and trade: anhistorical analysisGlobal economic development: widening,deepening and acceleratingTwo hundred years ago, as a result of the IndustrialRevolution, the world entered a period of unprecedentedeconomic growth that continues to this day. Althougheconomic progress was slow and geographically limited atfirst, it gradually accelerated and radiated outwards, eachphase, or wave, of global economic development fasterand more extensive than its predecessor (see Figure A.1).244The first wave, which took place in the second half ofthe 19th century, saw Great Britain, a number of othercountries in Western Europe, and North America – the earlyindustrializers – race ahead of the rest of the world, a processwhich has been called “the great divergence” (Pritchett,1997). A subsequent wave, which occurred after the SecondWorld War, saw the fast-developing economies of thatera – Japan and the newly industrializing economies – rapidlycatch up with the developed West, even as the advancedindustrial countries redoubled their lead on the poorer andless developed economies that had been left behind.A final wave, which began in the 1980s, has seen muchof the rest of the developing world, including the twogiants, China and India, finally begin their own process ofrapid industrialization. This “great convergence”, which inmany ways is only beginning, represents the largest andfastest phase of economic catch-up so far. As Martin Wolfsuccinctly puts it, “never before have so many people – orso large a portion of the world’s people – enjoyed suchlarge rises in their standards of living” (Wolf, 2004).This accelerating and widening circle of developmentwas only possible because the world economy grew moreopen and integrated. At each stage, expanding trade wasa powerful driver of economic development – openingup new markets, improving access to raw materials,promoting international specialization and stimulatingtechnological diffusion and innovation – which in turndrove further trade expansion.A central challenge at each historical stage was thedevelopment of international rules and structures capable ofhelping countries to coordinate their increasingly internationaleconomic interests, and of managing the powerful forcesand stresses unleashed by economic change, such as therise of new economic powers, the spread of technologyand production, and the deepening of global economicintegration. Periods of relative economic openness – after
II. Trade and development: recent trends and the role of the WTOA. IntroductionFigure A.2: Per capita merchandise exports of selected economies, 1840-1913(1990 US )1,000Per capita merchandise t Britain18701880GermanyUnited States1890Japan19001910FranceSource: Maddison Project and IMF.the mid-19th century, after 1945, and after the Cold War –have tended to coincide with global economic development,while periods of trade fragmentation and protectionism –most notably during the inter-war period – have seeneconomic development stall or go into reverse.(b)The first wave – early industrializersThe Industrial Revolution, despite its name, had modestbeginnings. Although Great Britain was the firstindustrializer – a lead secured in part because of its accessto vast overseas colonial markets and its early embrace offree trade – its economic growth of less than 1 per cent ayear in the first half of the 19th century was unremarkableby subsequent standards. Only when other early “developingcountries”, including Germany, France, the Netherlands,Belgium and later the United States, began to catch upwith Great Britain after the mid-19th century, did the worldexperience the first major period of rapid economic expansion.From 1870 to 1913, world capita GDP rose 1.3 percent a year compared with 0.5 per cent between 1820and 1870, and 0.07 per cent between 1700 and 1820(Maddison, 2001). Trade, which expanded four times asfast as world output, was a critical driver of economicgrowth and technological diffusion throughout this period,mainly because of new transport and communicationsinnovations – steamships, railways, telegraph cables – butalso because of the spread of open trade and exchangerate policies. This period is sometimes referred to asthe “first age of globalization”, but in reality only a smallcluster of countries in Europe and its former coloniesexperienced dynamic development, while the vast majorityof the world’s population, especially in Asia, Latin Americaand Africa, progressed only slowly, if at all. This growingdivergence in living standards and wealth between thefast-industrializing “core” of the world economy and thepre-industrial “periphery” became a defining feature of theglobal economic landscape over much of the subsequenttwo centuries.(i)Death of distanceBreakthroughs in transport and communicationstechnologies in the 19th century were both an effect anda cause of economic development (see Figure A.2). Bythe late 1830s, steamships were regularly crossing theAtlantic, by the 1850s service to South and West Africahad begun and, with the opening of the Suez Canal in1869, creating an important short cut to Asia, transoceanicsteam shipping took over Far Eastern trade routes as well,sealing their dominance of global trade (Landes, 1969).Railways were the other major transport breakthrough ofthe early Industrial Revolution. The world’s first freight railline, the Stockton-Darlington route, opened in 1825, andwas soon copied, not just throughout Great Britain, but inthe rest of Europe, the Americas, and, by the end of thecentury, Asia and Latin America as well. A transcontinentalline linked the East and West coasts of the United Statesby 1869, playing a major role not just in the settlementof the West, but in linking the vast American hinterlandto global markets (O’Rourke and Findlay, 2007). TheCanadian-Pacific railroad was completed by 1885 and thetrans-Siberian railway by 1903. The decade prior to theFirst World War also saw an explosion of railway buildingin Argentina, India, Australia, China and elsewhere. Railwaylines increased from 191,000 kilometres in 1870 to nearly1 million kilometres in 1913 (Fogel, 1964). Breakthroughsin refrigeration after the 1830s reinforced the impact ofsteamships and rail, allowing for the transport of chilledmeat and butter over great distances (Mokyr, 1990).45
world trade report 2014Other technologies contributed to lowering communicationscosts. The arrival of the telegraph in the mid-19th centurywas as revolutionary as steamships and railroads,effectively ushering in the modern era of instantaneousglobal communications. The first successful transatlantictelegraph message was sent in August 1858, reducing thecommunication time between Europe and North Americafrom ten days – the time it took to deliver a message byship – to a matter of minutes. By the end of the 19thcentury, British-, French-, German-, and American-ownedcables linked Europe and North America in a sophisticatedweb of telegraphic communications. As transoceanicsteamships linked up distant markets, railways connectedemerging industrial centres and telegraphs linked financialcentres, world trade and investment surged.(ii)Minimalist international cooperationAlthough technology was the major driver of trade andintegration in the second half of the 19th century, thespread of liberal economic policies also played a role. First,Great Britain removed many of its tariff barriers and traderestrictions unilaterally (the so-called Navigation and CornLaws) between 1846 and 1860, providing a powerful pushtowards more open international trade. Next, in 1860, itnegotiated the Cobden Chevalier Treaty with Francewhich, in reducing trade barriers between the world’s twobiggest economies on a conditional most-favoured nation(MFN) basis, created an incentive for other Europeancountries to conclude similar bilateral trade agreements.Next, in the 1870s, again following Great Britain’s lead, theworld’s major economies shifted to the gold standard andfixed exchange rates, adding perhaps the most importantpillar to global economic stability during that period.Although these institutional arrangements were largelyfocused on European countries, Europe’s place at thecentre of the world economy and its extensive imperial andcolonial ties meant that large parts of the world economywere automatically (and involuntarily) drawn into theopen trading order being constructed after 1860. French,German, Belgian and Dutch colonies essentially adoptedthe same tariff codes as their home countries while mostof Great Britain’s dependencies, such as India, applied thesame low, non-discriminatory tariff on foreign as well asBritish imports. Where developing countries attemptedto resist opening up to foreign trade and investment,Western powers were prepared to use military muscle toprise open markets, for example during the Anglo-ChineseOpium War between 1839 and 1842, and when US NavalCommodore Perry, by threatening to use force, openedJapan to Western trade in 1853.46This combination of technological change, spreading tradeopening and mass migration fuelled a period of extraordinaryeconomic integration. Indeed, economic historian KevinO’Rourke argues that “the most impressive episode ofinternational economic integration which the world has seento date were the years between 1870 and the Great War”.Openness – that is, the share of trade in output – rose steadily,from just 1 per cent in 1820 to 7.6 per cent in 1913 – a highpoint not surpassed until the 1960s (Maddison, 2001).(iii)Global specialization – if not yet globalvalue chainsWhile the late 19th century saw nothing as complex andsophisticated as today’s global value chains, signs ofgrowing international specialization, the “unbundling” ofglobal production and the spread of foreign investmentwere already evident. With the arrival of steamships andrailways, a vast range of commodities were suddenlyaccessible to the world’s industrial centres, just as newmanufactured goods began to flood the rest of the world.Transoceanic trade in grains, metals, textiles and other bulkcommodities – as well as in manufactured goods – becameincreasingly common in the latter half of the 19th century.Global trade and exchange rate stability encouragedmassive outflows of foreign capital during this period –especially from Great Britain, which directed about half itssavings abroad, but also from France and Germany. Much ofthis investment went into railway construction in the UnitedStates, Canada, Russia, Latin America and Asia, furtherstrengthening economic integration and acceleratinggrowth. The period 1870 to 1913 also saw large-scaleinternational migration, with an outflow of 17.5 millionpeople from Europe to the Americas and Australasia, furthercementing global economic integration. The most strikingfeature of this emerging global economic system is that itwas underpinned by simple – though fragile – rules andagreements, not by a network of international organizationsdesigned to “manage” the world economy.One of the key factors facilitating Europe’s rapidindustrialization throughout the 1800s was the vastamount of fertile land in the Americas which could be usedto grow the large quantities of food needed to feed a fastexpanding European population, thereby allowing Europe’slabour and land to be freed up for further industrialization(Pomeranz, 2000). Despite a fast-growing population andlimited arable land, Great Britain saw food prices stoprising in the 1840s and start falling thereafter, helped bythe abolition of the Corn Laws, which had imposed highduties on imported corn (O’Rourke and Williamson, 1999;O’Rourke and Findlay, 2007).Declining food prices benefited industrial workers and urbanconsumers — helping to fuel further industrialization andurbanization — but disadvantaged landowners and farmlabourers. By the 1870s, Great Britain’s farm sector employedless than a quarter of its working population. Great Britain alsoabsorbed over a quarter of the world’s exports, mainly food andraw materials, and was the main exporter of manufacturedgoods as well as the largest provider of trade-related services,such as shipping, trade finance and insurance.Just as farmers in industrialized countries faced increasedcompetition from highly competitive agricultural producersin the New World, developing-country artisanal and craft
II. Trade and development: recent trends and the role of the WTO(iv) The industrialized core converging – butthe core and the periphery divergingThis “first age of globalization” was less than global in itsscope. As the early industrializing countries pulled ahead ofthe pre-industrial rest (Pomeranz, 2000), a new and unevenglobal economic landscape began to emerge, defined bya European “core” increasingly focused on manufacturing,and the largely colonial “per
recent trends and the role of the WTO The World Trade Report 2014 looks at how many developing economies are successfully leveraging trade for rapid growth. It focuses on four recent trade trends - the rise of new global players, the spread of production chains, increasing commodity prices, and growing economic interdependence. These trends
The impact of trade, page 2 INTRODUCTION Approximately 80 percent of global trade relies on some version of trade finance. The financing options may vary between open accounts, interfirm trade credit, or bank-intermediated trade finance (Chauffour and Malouche, 2011). During the latest financial recession, short-term trade finance fell .
Trade facilitation initiatives can make an important contribution to economic growth and poverty reduction by lowering trade costs and increasing trade flows. This report reviews trade facilitation progress in Asia and the Pacific, including recent trends in paperless trade and transit facilitation and the impact of trade .
Recent trends in global trade and global value chains 39 or final goods. Trade in intermediate goods contributed more than trade in final goods did to the growth of total manufactur-ing trade in 2001-08 and 2009-14 and to its decline in 2000-01 and 2008-09 (table 2.1). Trade in final goods contributed more
Developing economies are particularly susceptible to high trade costs. Reduction of trade costs would encourage greater participation of developing economies in international trade, boost trade flows and contribute to their economic development. A wide consensus exists in the literature that future reductions in trade costs will come from
13.2 Trade costs and trade volumes in competitive, comparative-advantage models 13.3 Trade costs, prices discrimination, and trade volumes in oligopoly models 13.4 Trade costs, inter and intra-industry trade in monopolistic-competition models 13.5 The core-periphery model 13.6 Heterogeneous firms and firm-level export behavior 13.7 The gravity .
Defining trade-based money laundering and trade-based terrorist financing 11 Trade process and financing 12 Section 2. Trade-based money laundering risks and trends 15 Risk-based approach to trade-based money laundering 16 Economic sectors and products vulnerable to TBML activity 20 Types of businesses at risk of trade-based money laundering 24
WORLD TRADE REPORT 2013 44 A comprehensive and fruitful analysis of the shaping factors of international trade and their implications for trade policy cannot be performed without having a clear idea of the evolution of trade patterns over time. This part of the Report analyses past, present and future trends in international trade
engineering professionals ‘minor’ group of civil, mechanical, electrical, electronics, design and development and production and process engineers. The ‘core’ definition also includes those who require consistent use of engineering competences – for example, a draughtsperson or a welder. Meanwhile, related engineering jobs were defined as those that require a mixed application of .
