The 7th meeting of the UN Committee of Experts on Business and Trade Statistics took place at the World Trade Organization. This event underscored the collaboration between the United Nations and the World Trade Organization in statistics, covering methodological work and capacity building in developing economies.
The integration of business and trade statistics is increasingly important in today's economic landscape. Traditional trade statistics analyze goods and services flow across borders, while business statistics provide insights into enterprises' structural aspects. However, these two areas often operate separately. To maximize data's potential for strategic decisions, integrating these domains is essential for a comprehensive view of global trade patterns.
Understanding how firms of different sizes engage in international trade helps identify growth patterns, resilience, and small and medium-sized companies' roles in the global market. Comprehensive data enable policymakers to design targeted interventions supporting sustainable trade growth, attracting foreign investment, and fostering innovation. While advanced economies currently lead in developing such data, granular trade information is also crucial for developing economies seeking deeper integration into the multilateral trading system.
As emphasized by the Director-General: "the future of trade is services, digital, and green - and it must be inclusive." Achieving this vision relies on accurate, timely trade data for informed decision-making.
Four examples illustrate this point:
1. With services expanding rapidly online, tracking their international delivery methods—cross-border transactions, consumption abroad, commercial presence or movement of people—is crucial. Accurate data capture provides valuable insights for negotiators and policymakers.
2. Integrating environmental data with trade statistics allows evaluation of sustainability practices. This approach offers insights into global trade's environmental impact and supports policies promoting economic growth alongside sustainability.
3. Gender-disaggregated data incorporation promotes inclusive growth by highlighting women's participation in international trade. It identifies gender disparities and informs initiatives aimed at bridging gaps to promote gender equality.
4. Subnational level trade statistics reveal regional economic dynamics—strengths, challenges, opportunities—allowing targeted strategies for balanced development across regions.
Future efforts should focus on developing multidimensional data enabling sound evidence-based policymaking addressing specific economic challenges while promoting sustainable inclusive trade.
Participants were encouraged to actively engage in discussions to develop comprehensive statistical methodologies forming the foundation for informed decision-making.
"I wish you all a productive discussion," concluded the speaker.