The World Trade Organization (WTO) opened a two-day Geneva review Thursday, Oct. 29, focused on trade partnerships as a joint report showed least-developed countries (LDCs) accounted for about 1% of global merchandise exports in 2024.
The report by the Organisation for Economic Co-operation and Development (OECD) and WTO tracks export shares between 2006 and 2024. Developing economies’ share of merchandise exports rose to 48% from 38%, and their share of services exports climbed to 33% from 25%. Over the same period, LDCs’ merchandise share moved from about 0.8% to about 1%, while their share of commercial services exports increased from 0.42% to 0.54%.
Aid for Trade is part of official development assistance, delivered through grants and concessional loans for trade barriers, capacity building and infrastructure. The report counts US$795 billion in disbursements during 2006-24. Africa received 38% of the total and Asia 35%; LDCs received 28%.
Disbursements reached US$51 billion in 2024, 2% more than in 2023. The report estimates that bilateral support would be about 22% lower in 2026 than in 2024 if sectoral allocations stay at their current levels. Aid for Trade to LDCs grew by an average of 2% annually from 2021 to 2024. To double support from its 2018 level by 2031, the Doha Programme of Action objective, the report estimates it would need to grow 9% annually from 2024.
Private finance mobilized in trade-related sectors totaled US$68 billion in 2024. Middle-income countries received 74% of that funding, while LDCs received 6%. OECD Secretary-General Mathias Cormann said, “Private finance does not replace aid. It multiplies its impact.” WTO Director-General Ngozi Okonjo-Iweala called for stronger partnerships to help developing economies succeed in trade.
The report points to digitalization, environmental goals and supply-chain changes linked to geopolitical pressures as factors shaping trade needs. The review continues through Friday, Oct. 30, with more than 30 member-led sessions on value chains, trade facilitation, services and digital trade, including artificial intelligence.
