Regional and global unification of sales law

When discussing regional and global unification of sale s law it seems appropriate to briefly mention the globalisation of trade. The overall development of international trade over the last half century is startling. Although in Fall 2008 and persisting into 2009 there was a sharp decline worldwide – in 2009 alone the drop amounted to 12% –, preliminary figures indicate a strong rebound, with value of trade in 2010 said to expand by 9,5% compared to 2009. WTO figures for 2008 indicate that worldwide merchandise export trade amounted to 15,717 billion USD and worldwide merchandise import trade to 16,127 billion USD. These figures are approximately 100 times more than 45 years ago and more than 10 times the level at the time of the signing of the United Nations Convention on Contracts for the International Sale of Goods (“CISG”) in 1980. The average annual growth from 2000 to 2008 was more than 5% for both exports and imports worldwide. No longer is the highest growth found in North America, Europe and Japan, but instead it is the transition economies from different points of the globe – particularly China, Brazil, Russia and some African countries. Disregarding the figures for 2009, in Africa the annual growth of exports amounted to 18% in 2007 and 28% in 2008, that of imports to 23% in 2007 and to 27% in 2008.