By Emmanuelle Ganne (WTO), Alexander Karavaytsev (International Grains Council — IGC), Mun How Mong (WTO), Cédric Pene (WTO)

Wheat is among the world’s most common food staples. Its availability is therefore crucial for food security in many parts of the globe. While around one-quarter of the world’s wheat supply is obtained through international trade — 80 per cent of it seaborne trade — this share is much higher for some net food-importing developing economies. This highlights how important it is for international trade channels to function well. 

By Monia Snoussi-Mimouni and Edvinas Drevinskas

There has been a clear downward trend in tariffs since the WTO was established in 1995.

Since 1996, global trade in goods has more than quadrupled, reaching a total of US$ 18.6 trillion for imports in 2021, compared to US$ 4.4 trillion in 1996.

Over the same period, available data indicate that the simple average tariff applied by WTO members on a most-favoured nation basis — by which WTO members extend the same trade treatment, including tariff rates and market access, to all other members — has declined by 44 per cent, falling from 13.2 per cent to 7.4 per cent, as shown in Figure 1.