MSMEs are the backbone of the world economy. Today, 95 per cent of companies across the globe are MSMEs, accounting for 60 per cent of the world’s total employment. MSMEs contribute to around 35 per cent of GDP in developing countries and around 50 per cent in developed countries, according to the 2016 World Trade Report (WTO, 2016). MSMEs are thus vital for preserving jobs and productivity.
A large number of MSMEs depend on international trade for their activities, either because they export their products through direct or indirect channels, or because they rely on imported inputs to manufacture the products they sell domestically.msmes_report_e
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