Global trade has increased by leaps and bounds since World War II. Analysts say that commercial interaction has more and more become the force that shapes relations among nations. The 15-fold increase in trade volume over the past 40 years has been one of the most important factors in the rise of living standards worldwide.

• Since 1945, the proportion of trade as a share of global income has increased from 7 percent to 21 percent.
• In the U.S., international trade now accounts for about 24 percent of gross domestic product.
• Many forecasters are predicting global economic growth of 3.4 percent to 4 percent for the next two decades.
• At that rate, world production of goods and services would double by 2020.

Developing countries now account for about 25 percent of world trade, compared with 20 percent just a decade ago.

A Harvard study has demonstrated that countries with more open economies grew at an annual rate of about 4.5 percent between 1970 and 1989 -- while those with relatively closed economies grew at only a 0.7 percent rate.

• Last year, the U.S. shipped $624 billion worth of goods abroad, while selling $189 billion worth of services to foreign consumers.
• According to the Commerce Department, export-related jobs accounted for 23 percent of private-sector job creation between 1990 and 1994.
• In 1994, exports supported some 10.3 million jobs -- more than 10 percent of private-sector employment.
• Pay scales in the export sector tend to average 13 percent more than the national average wage.

Currently there are 130 countries with membership in the World Trade Organization. Another 28 countries are in the process of negotiating to join the global group.

Source: Renato Ruggiero (World Trade Organization), "The High Stakes of World Trade," Wall Street Journal, April 28, 1997.