WTO CONFIRMS FALL IN ASIA’S IMPORTS

    Asian imports from the rest of the world dropped by 18 percent in 1998, to $1.09 trillion, according to statistics published by the World Trade Organization.
    Quantifying the impact of the Asian crisis, the WTO’s annual report on international trade statistics shows that Asian merchandise imports fell by 35 percent, in value, in South Korea; by 34 percent in Indonesia; by 32 percent in Thailand; by 17 percent in Japan; and by 2 percent in mainland China.
    World merchandise imports decreased by 1 percent last year, as Brazil, Chile, Colombia, the Russian Federation, Ukraine and South Africa also reduced their merchandise imports.
    World merchandise trade amounted to about $5.5 trillion last year, according to the WTO. Detailed statistical tables are posted at https://www.wto.org/wto/statis/prerelease.htm