RESTRICTED  
  
WT/BFA/W/632/Rev.1  
 
4 July 2023 
(23-4526) Page: 1/60 
Committee on Budget, Finance and Administration    
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
WORLD TRADE ORGANIZATION  
2022 FINANCIAL PERFORMANCE REPORT1 
Revision  
 
  
 
1 Due to rounding of figures in various tables and summary charts, minor differences can result between 
subtotals and totals.  WT/BFA/W/632/Rev.1  
 
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  TABLE OF CONTENTS  
1  INTRODUCTION  ................................ ................................ ................................ ..........  6 
2  REGULAR BUDGET PERFORMANCE  ................................ ................................ ...............  7 
 WTO Budget Composition  ................................ ................................ ...........................  7 
 Outstanding contributions  ................................ ................................ ...........................  7 
 WTO Budget Performance  ................................ ................................ ...........................  9 
 Part A - Staffing Resources  ................................ ................................ .........................  9 
 Staff Expenditure  ................................ ................................ ................................ .... 9 
 Temporary Assistance Expenditure  ................................ ................................ ..........  10 
 Part B - Other Resources  ................................ ................................ ..........................  11 
 General Services ................................ ................................ ................................ ... 11 
 Travel and Hospitality  ................................ ................................ ............................  13 
 Implementing Partners  ................................ ................................ ..........................  13 
 Capital Expenditure  ................................ ................................ ...............................  13 
 Financial Expenditure  ................................ ................................ ............................  13 
 Part C – Operating Funds and ITC  ................................ ................................ ..............  14 
 Transfers between Budgetary Sections  ................................ ................................ ....... 14 
 Expenditure by Output Chapter  ................................ ................................ .................  15 
 Background  ................................ ................................ ................................ .........  15 
 2022 Expenditure by Output Chapter Compared to the Output Budget  ..........................  15 
 Facilitating Negotiations  ................................ ................................ ...........................  15 
 Administering Agreed WTO Rules  ................................ ................................ .............  15 
 Monitoring Trade Policies  ................................ ................................ ........................  15 
 Settling Disputes  ................................ ................................ ................................ ... 15 
 Capacity Building  ................................ ................................ ................................ ... 15 
 Assisting Accessions  ................................ ................................ ...............................  16 
 Conducting Research  ................................ ................................ ..............................  16 
 Reaching Out  ................................ ................................ ................................ ........  16 
3  EXTRA -BUDGETARY PERFORMANCE  ................................ ................................ ..........  17 
 Trust Funds  ................................ ................................ ................................ ............  17 
 Trust Fund Landscape ................................ ................................ ............................  17 
 Contribution and Expenditure per Trust Fund  ................................ ............................  18 
 Global Trust Fund  ................................ ................................ ................................ . 19 
 Trade Facilitation Agreement Facility (TFAF)  ................................ .............................  20 
 Standards and Trade Development Facility  ................................ ...............................  21 
 The French Irish Mission Internship Programme  ................................ ........................  22 
 Netherlands Trainee Programme  ................................ ................................ .............  22 
 China LDCs and Accessions Programme  ................................ ................................ ... 23 
 LDCs' Participation in WTO Ministerial Conferences  ................................ ....................  23 
 WTO LDC Fisheries Negotiations Trust Fund  ................................ ............................  23 WT/BFA/W/632/Rev.1  
 
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 WTO LDC Graduation Trust Fund  ................................ ................................ ...........  23 
 China Development Cooperation Research Initiative (CDCRI)  ................................ ..... 23 
 Administrative Funds  ................................ ................................ ...............................  24 
 Enhanced Integrated Framework Executive Secretariat  ................................ ..............  24 
 Independent Entity – Pre-Shipment Inspection Deposits  ................................ .............  25 
 Programme Support Fund  ................................ ................................ ......................  25 
4  FINANCIAL STATEMENTS  ................................ ................................ ..........................  26 
 Management Letter of Representation  ................................ ................................ ........  26 
 Opinion of the External Auditor  ................................ ................................ ..................  27 
 WTO Financial Statements  ................................ ................................ ........................  29 
 Notes to the Financial Statements  ................................ ................................ ..............  32 
 Note 1 Accounting Policies ................................ ................................ ......................  32 
 Note 2 Financial Risk Policy  ................................ ................................ ....................  36 
 Note 3 Negative Interest and Negative Equity  ................................ ...........................  36 
 Note 4 Cash and Cash Equivalents  ................................ ................................ ..........  36 
 Note 5 Receivables from Members and Observers  ................................ ......................  36 
 Note 6 Inventories  ................................ ................................ ................................  37 
 Note 7 Advances, Prepayments and Other Receivables  ................................ ...............  37 
 Note 8 Property, Plant and Equipment  ................................ ................................ ..... 38 
 Note 9 Intangible Assets  ................................ ................................ ........................  39 
 Note 10 Accounts Payable and Accruals  ................................ ................................ .. 40 
 Note 11 Provisions  ................................ ................................ ..............................  40 
 Note 12 Assessed Contributions Paid in Advance  ................................ ......................  40 
 Note 13 Refundable Voluntary Contributions  ................................ ...........................  41 
 Note 14 Employee Benefits  ................................ ................................ ...................  41 
 Note 15 Loan  ................................ ................................ ................................ ...... 44 
 Note 16 Working Capital Fund  ................................ ................................ ...............  44 
 Note 17 Reserves  ................................ ................................ ................................  45 
 Note 18 Revenue  ................................ ................................ ................................  45 
 Note 19 Expenses  ................................ ................................ ...............................  46 
 Note 20 Reconciliation of Budgetary Performance and Financial Results  .......................  47 
 Note 21 Related Party Transactions  ................................ ................................ ....... 49 
 Note 22 Contingent Assets and Contingent Liabilities  ................................ ................  49 
 Note 23 Segment Reporting  ................................ ................................ ..................  49 
 Note 24 Events After the Reporting Date  ................................ ................................  50 
 Note 25 ESG and CSR Organization's activity  ................................ ..........................  50 
5  SCHEDULES  ................................ ................................ ................................ ...............  52 
 Schedule A 2022 Statement of Assessed Contributions for Members and Observers  ...........  52 
 Schedule B Statement of Outstanding Contributions as of 31  December  2022 ..................  55 
 Schedule C Voluntary Contributors Received During  2022 ................................ ..............  59 WT/BFA/W/632/Rev.1  
 
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 Schedule D Balance Due to Contr ibutors as of 31  December  2022 ................................ .. 59 
Figures  
Figure 1 Financial Result Process (in millions of CHF)  ................................ ............................  6 
Figure 2 Outstanding Contributions (in millions of CHF)  ................................ .........................  8 
Figure 3 Key Contributors to Trust Funds Since 2013  ................................ ..........................  17 
Figure 4 Number of  Contributors Since the Inception of the Global Trust Fund  ........................  18 
Figure 5 Receipts and Expenditures of the Global Trust Fund from 2013-2022 ........................  19 
Figure 6 Expenditure by Key Results (Outcomes) of WTO Technical Assistance Plan  .................  20 
Figure 7 Contributions Received and Expenditures of the STDF from 2013 -2022 ......................  22 
Tables  
Table 1 2022 WTO Income (in thousands of CHF)  ................................ ................................ .. 7 
Table 2 2022 Miscellaneous Income (in thousands of CHF)  ................................ ......................  7 
Table 3 2022 WTO Budget Performance (in thousands of CHF)  ................................ ................  9 
Table 4 Staff Expenditure (in thousands of CHF)  ................................ ................................ .... 9 
Table 5 Temporary Assistance Expenditure (in thousands of CHF)  ................................ ...........  10 
Table 6 Part B Expenditure (in thousands of CH F) ................................ ................................ . 11 
Table 7 General Services Expenditure (in thousands of CHF)  ................................ ..................  11 
Table 8 Travel and Hospitality (in thousands of CHF)  ................................ .............................  13 
Table 9 Implementing Partners (in thousands of CHF)  ................................ ...........................  13 
Table 10 Capital Expenditure (in thousands of CHF)  ................................ ..............................  13 
Table 11 Financial Expenditure (in thousands of CHF)  ................................ ............................  13 
Table 12 Operating Funds and ITC (in thousands of CHF)  ................................ .......................  14 
Table 13 Proposed Transfers between Sections of the 2022 WTO Budget (in  thousands  of CHF) ... 14 
Table 14 2022 Expenditure by Output Chapter (in  thousands  of CHF) ................................ ...... 15 
Table 15 Summary of Contributions and Expenditures (in  thousands  of CHF) ............................  18 
Table 16 Summary of contributions and Expenditures per Administrative Fund (in  thousands  of CHF)
 24 
Table 17 Statement of Financial Position  ................................ ................................ .............  29 
Table 18 Statement of Financial Performance  ................................ ................................ ....... 30 
Table 19 Statement of Changes in Net Assets/Equity  ................................ .............................  30 
Table 20 Statement of Cash Flow  ................................ ................................ .......................  31 
Table 21 Level of Provisions for Outstanding Contributions  ................................ .....................  33 
Table 22 Useful Life of Classes of Assets  ................................ ................................ ..............  34 
Table 23 Cash Situation  ................................ ................................ ................................ .... 36 
Table 24 Receivables from Members and Observers  ................................ ..............................  37 
Table 25 Provision for Outstanding Contributions Breakdown  ................................ ..................  37 
Table 26 Inventories per Type  ................................ ................................ ...........................  37 
Table 27 Write -offs and Adjustment s ................................ ................................ ..................  37 
Table 28 Advances and Prepayments  ................................ ................................ ..................  37 
Table 29 Other Receivables  ................................ ................................ ...............................  38 
Table 30 Building  ................................ ................................ ................................ .............  38 WT/BFA/W/632/Rev.1  
 
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  Table 31 Equipment  ................................ ................................ ................................ .........  39 
Table 32 Intangible Assets  ................................ ................................ ................................  39 
Table 33 Payables and Accruals ................................ ................................ ..........................  40 
Table 34 Provisions  ................................ ................................ ................................ ..........  40 
Table 35 Assessed Contributions Paid in Advance  ................................ ................................ . 40 
Table 36 Refundable Voluntary Contributions  ................................ ................................ ....... 41 
Table 37 Provision for Employee Benefits ................................ ................................ .............  41 
Table 38 Actuarial Assumptions to Define Benefit Obligations and Costs (Pension - ASHI)  ...........  42 
Table 39 Financial Asset – Pension Asset  ................................ ................................ .............  42 
Table 40 Defined Benefit Obligations – Pension Benefit  ................................ ..........................  42 
Table 41 History of Pension Defined Benefit Obligations  ................................ .........................  42 
Table 42 Defined Benefit Obligations – ASHI ................................ ................................ ........  43 
Table 43 Sensitivity Analysis  ................................ ................................ ..............................  43 
Table 44 Total Pension Actuarial Gains or Losses During the Year  ................................ ............  44 
Table 45 Total ASHI Actuarial Gains or Losses During the Year  ................................ ...............  44 
Table 46 Loan Evolution  ................................ ................................ ................................ .... 44 
Table 47 Working Capital Fund Statement  ................................ ................................ ...........  44 
Table 48 Reserve s ................................ ................................ ................................ ............  45 
Table 49 Voluntary Contributions (Trust Funds)  ................................ ................................ .... 45 
Table 50 Revenue from Publications  ................................ ................................ ...................  46 
Table 51 Other Revenue  ................................ ................................ ................................ ... 46 
Table 52 Staff Expenditure – Permanent ................................ ................................ ..............  46 
Table 53 Staff Expenditure – Temporary  ................................ ................................ .............  47 
Table 54 Statement of Comparison of Budget and Actual Amounts – 2022 ...............................  48 
Table 55 Reconciliation of the Budgetary Result and Financial Result  ................................ ....... 48 
Table 56 Reconciliation of the Budgetary Result and Financial Cash Flow Result  ........................  49 
Table 57 Key Management Personnel  ................................ ................................ ..................  49 
Table 58 Financial Performance by Segments  ................................ ................................ ....... 50 
Table 59 Assessed Contributions for Members in 2022  ................................ ...........................  52 
Table 60 Assessed Contributions for Observers in 2022  ................................ .........................  54 
Table 61 Outstanding Contributions from and Advances by Members as of 31  December  2022 (in 
CHF)  ................................ ................................ ................................ ............................  55 
Table 62 Outstanding Contributions from and Advances by Observers as of 31  December  2022 (in 
CHF)  ................................ ................................ ................................ ............................  58 
Table 63 Voluntary Contributions Received in 2022 by Trust Fund  ................................ ...........  59 
Table 64 Balance Due to Contributors as of 31  December  2022 by Trust Fund or Proje ct ............  59 
 
  WT/BFA/W/632/Rev.1  
 
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  1  INTRODUCTION  
 The 2022 Financial Performance Report reflects financial information for the year spanning from 
1 January to 31 December 2022. The document comprises the following key sections: Regular 
Budget Performance ; Extra -Budgetary Performance; the Financial Statements; and accompanying 
Schedules.  
Figure 1 Financial Result Process ( in million s of CHF ) 
 
 
 2022 is the ele venth year where the budget remained stagnant at  CHF 197.2 million. The 
budgetary result2 of approximately CHF 67,000  is the consequence of a positive difference between 
budget and actual expenditure of CHF 980,000, the difference between budgeted and actual 
miscellaneous income of CHF 796,000, and a year -on-year variation of CHF 1.7 09 million  in the 
provision for contributions in  arrears . 
 The 2022 budgetary result of CHF 67,000 is markedly lower than th e budgetary result for each 
of the four preceding years. The comparable amounts were CHF 1.3 million for 2018, CHF 5 million 
for 2019, CHF 11. 8 million for 2020, and CHF 6 million for 2021.  
 The primary factor leading to such a low budgetary result in 2022  is that contributions in 
arrears, at CHF 1.7 09 million, was so high. The upward trend in arrears is sharp – by comparison, 
contributions in arrears amounted to only CHF 400,000 in 2021. If the Secretariat had not 
maintained a positive difference between b udget and actual expenditure of CHF 980,000 in 2022, 
the budgetary result would have been negative for the year. The need to mitigate this risk puts 
additional pressure on the Secretariat already constrained with a zero nominal growth budget.  
 The budgetary  result is adjusted by incorporating International Public Sector Accounting 
Standards (IPSAS) requirements to determine the financial result. IPSAS requirements make the 
disclosure of long -term assets and liabilities obligatory. Hence, the WTO Pension Plan  (WTOPP) and 
After Service Health Insurance (ASHI) assets and liabilities are reflected in the financial statements. 
This has a considerable effect on the financial result , which is a deficit of CHF  68.9 million.  
  The WTOPP has distinct regulations and rul es and is governed by the WTOPP Management 
Board, with representatives of staff, WTO Members, and retirees. ASHI does not have a governing 
body.  
 The contributions received for Trust Funds in 2022 amounted CHF 19 million and were slightly 
lower than those received in 2021 (CHF 19.8 million). Expenditure for Technical Assistance activities 
in 2022 amounted to CHF 17.2 million, and they increased rema rkably compared to the previous 
year (CHF 13.7 million). Such an increase is mainly due to the lifting of restrictions related to the 
 
2 Note that the amendment to Financial Regulation 23 adopted by the General Council in 
December  2022 introduced  the term "budgetary result ". If the result is positive there will be a budget surplus, 
if negative it will be a budget def icit. 
WT/BFA/W/632/Rev.1  
 
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  pandemic occurring during the year. Among WTO Trust Funds, the STDF and GTF recorded the 
highest levels of expenditure in 2022 with about CHF 6.2 million and CHF 4.2 million, respectively.  
2  REGULAR BUDGET PERFORMANCE  
 WTO Budget Composition  
 The budget for 2022, amounting to CHF 197.2 million, was approved by the General Council in 
December 2021 (WT/BFA/200 and WT/GC/M/194).  
 The WTO Regular Budget is financed through assessed contributions from Members and 
miscellaneous income:  
a. In accordance with Financial Regulation 12, the share to be contributed by each Member 
is based on the Member's international trade (imports plus exports)  in relation to the 
international trade of all WTO Members.  
b. Miscellaneous income is mainly derived from the sale of publications, royalties, savings 
or refunds from prior year obligations, rental of meeting rooms, contributions from 
Observers, and an alloc ation of an equivalent of 10% of the annual expenditure of the 
Programme Support Fund.  
Table 1 2022 WTO Income ( in thousands of CHF ) 
Item  Budget  Receipts  Balance  
Contributions from WTO Members  195,500  195,500  - 
Miscellaneous Income  1,704  2,500  796 
Total  197,204  198,000  796 
 The details of miscellaneous income for 2022 are shown in the table below:  
Table 2 2022 Miscellaneous Income (in thousands of CHF ) 
Item  Budgeted 
Miscellaneous 
Income 2022  Income 
2022  Balance 
2022  
Contributions of Observer Countries  600 616 16 
Sale of Publications & Royalties  250 212 -38 
Trust Fund - Participation to direct costs  190 147 -43 
Refund of prior year's expenditure  200 819 619 
Rental of meeting rooms & office space  125 2 -123 
Administrative Services to the Enhanced Integrated Framework  - 165 165 
Profit/Loss on Exchange  - -121 -121 
Interest on Investments  - 241 241 
Other  339 419 81 
Total  1,704  2,500  796 
 
 The receipts under Sale of Publications & Royalties were slightly lower than expected. The same 
applies to the receipts from the programme support fund, which were affected by less activity in 
trust funds due to the pandemic. The positive result under Refund o f Prior Year's Expenditure was 
mainly linked to reimbursements from the loss of earnings insurance for staff on long -term sick 
leave for prior years, refund of air tickets, and a re -classification of interest from prior years.  
 Revenue from Rental of Meetin g Rooms & Office Space was less than budgeted in view of 
renegotiated terms by the company that leases the restaurant, in light of the pandemic. The Loss of 
Exchange is linked to exchange rate variations between the CHF and the EUR, GBP, and USD. Under 
Interest on Investments, the positive interest is linked to money market investments in USD. Under 
Other, the positive result is principally due to a release of legal provisions for closed cases.  
 Outstanding contributions  
 The outstanding contributions in 2022 , amounting to CHF 16.8 million, were lower than those 
in 2021. This is largely due to 2021 contributions made by several key contributors in early 2022 WT/BFA/W/632/Rev.1  
 
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  instead of end of 2021. The table below depicts the outstanding contributions for each year 
since 2012. 
Figure 2 Outstanding Contributions ( in millions of CHF ) 
 
 
  
WT/BFA/W/632/Rev.1  
 
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 WTO Budget Performance  
Table 3 2022 WTO Budget Performance (in thousands of CHF ) 
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  1. Staff Expenditure  i) Staff Remuneration  88,520  83,649  4,870  
    ii) Staff Pension & Post -
Employment Benefits  23,430  21,665  1,765  
    iii) Staff Health & Invalidity 
Insurance  6,794  7,194  -400 
    iv) Staff Family & 
International Benefits  10,921  10,177  744 
    v) Other Staff Expenditure  1,900  2,274  -374 
  2. Temporary Assistance  i) Short -Term Staff  9,850  18,240  -8,390  
    ii) Consulting  6,424  6,044  381 
    iii) Panellists  1,000  749 251 
A Staffing Resources Total     148,840  149,993  -1,153  
B Other 
Resources  3. General Services  i) Telecommunication & Post  541 383 158 
    ii) Contractual Services & 
Maintenance  11,613  13,342  -1,728  
    iii) Energy & Supplies  1,966  1,416  550 
    iv) Documentation & 
Publication  1,458  1,526  -68 
    v) Other / Miscellaneous  48 10 38 
  4. Travel & Hospitality  i) Travel  7,693  4,762  2,931  
    ii) Hospitality  214 121 92 
  5. Implementing 
Partners  i) Implementing Partners  213 1,170  -957 
  6. Capital Expenditure  i) Procurement of Fixed 
Assets  2,555  2,138  417 
    ii) Rental & Leasing of 
Equipment  540 274 265 
  7. Financial Expenditure  i) Bank & Interest Charges  880 446 434 
    ii) Building Loan 
Reimbursement  1,200  1,200  - 
B Other Resources Total     28,921  26,788  2,133  
C Operating 
Funds and 
ITC 8. Contributions to ITC & 
Special Reserves  i) Contribution to ITC  18,243  18,243  - 
    ii) Ministerial Conference 
Operating Fund  600 600 - 
    iii) Building Renovation Fund  600 600 - 
C Operating Funds and ITC Total   19,443  19,443  - 
Grand Total     197,204  196,224  980 
 
 Part A - Staffing Resources  
 Part A comprises  expenditure for regular staff members such as salary, pension, health 
insurance, death and invalidity insurance, staff benefits, and expenditure related to removal, 
installation, and separation of staff members. Expenditure for short -term staff, consultan ts, and 
panellists is also included under this Part.  
 Staff Expenditure  
Table 4 Staff Expenditure (in thousands of CHF ) 
Section  Line Budget  Expenditure  Balance  
1. Staff 
Expenditure  i) Staff Remuneration  88,520  83,649  4,870  
  ii) Staff Pension & Post -Employment 
Benefits  23,430  21,665  1,765  
  iii) Staff Health & Invalidity Insurance  6,794  7,194  -400 
  iv) Staff Family & International Benefits  10,921  10,177  744 
  v) Other Staff Expenditure  1,900  2,274  -374 
Grand Total    131,565  124,959  6,606  
 WT/BFA/W/632/Rev.1  
 
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 The expenditure under Staff Remuneration is slightly below budget. This is principally due to a 
certain number of posts kept vacant throughout the year, which also resulted in lower expenditures 
on Pension Contributions, Family Allo wances, and Education Grant. This savings was partly offset by 
over-expenditure under Annual Leave, Travel & Removal and Separation Grant due to a high number 
of staff retirements and departures. Additional overspending occurred under Death & Invalidity 
Insurance due to the premium increase. The budget lines for Staff Health Insurance and Retirees' 
Health Insurance were fully expended as the remaining funds have been transferred to the Special 
Reserve Account3. 
 Temporary Assistance Expenditure  
Table 5 Temporary Assistance Expendit ure (in thousands of CHF ) 
Section  Line Account Description  Budget  Expenditure  Balance  
2. Temporary 
Assistance  i) Short -Term 
Staff Short -Term Staff / Salary  2,191  8,404  -6,212  
    Short -Term Staff / Pension  725 1,264  -539 
    Short -Term Staff / Health 
Insurance  200 560 -360 
    Short -Term Staff / Annual 
Leave  - 422 -422 
    Short -Term Staff / Overtime  - 40 -40 
    Translators / Daily and 
Monthly  2,434  1,902  532 
    Translators / Special Service 
Contract  2,029  1,980  49 
    Interpreters  1,755  3,071  -1,316  
    Interns  516 598 -82 
  ii) Consulting  Consulting Firms & 
Employment Agencies  2,953  2,273  680 
    Special Service Agreement  1,315  1,600  -284 
    Translators / External 
Translator Contract  2,156  2,171  -15 
  iii) Panellists  Panellist Fees  1,000  749 251 
2. Temporary Assistance Total     17,275  25,033  -7,759  
 
 The budget line for Short -Term Staff includes the expenditure for temporary staff costs of 
CHF 10.7 million, Translators paid under short -term contracts of CHF 3.9 million, Freelance 
Interpreters' expenditure of CHF 3 million, and expenditure on Interns of CHF 0.6 million.  
 The main over -expenditure under temporary staff costs is due to the recruitment of  additional 
short-term staff for the organization's growing needs as well as filling of vacant posts on a temporary 
basis and replacing staff members on long -term sick leave and leave without pay.4  
 The over -expenditure under Interpreters is driven by the  limitation on interpreter hours when 
meetings are conducted in hybrid mode and the overall increase in the number of meetings. In 
particular, since the beginning of the pandemic, the rules of the profession have cut in half the 
number of hours freelance i nterpreters are permitted to work in a day if covering virtual meetings.  
 Under Translation, which covers the savings on short -term translators of CHF 0.58 million and 
an overspending on External Translators of CHF 15,000, an overall saving of CHF 0.57 mill ion was 
realized.  
 Under Consultants, the expenditure includes the recruitment of IT consultants for various IT 
projects, as well as expenses for the HR Training Program, the transformation exercise, recruitment 
of Directors, and actuarial services.  
 
3 Document WT/BFA/W/431 and WT/BFA/168 (Establishment of Special Reserve Account).  
4 In 2022, the Secretariat re -established the Short -Term Needs Committee (STNC), comprising the 
representatives of senior management, to provide strategic guidance on resource planning and triage requests 
for short -term staff.  WT/BFA/W/632/Rev.1  
 
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 Under Special Service Contracts, which relate to individual consultants, the main expenditure 
items include consultants working on research projects, dispute settlement, IT consultants, text 
processing, and media relations.  
 Savings of CHF 0.3 million were realized under Panellists' Fees.  
 Part B - Other Resources  
Table 6 Part B Expenditure (in thousands of CHF ) 
Part Section  Line Budget  Expenditure  Balance  
B Other 
Resources  3. General Services  i) Telecommunication & 
Post 541 383 158 
    ii) Contractual Services 
& Maintenance  11,613  13,342  -1,728  
    iii) Energy & Supplies  1,966  1,416  550 
    iv) Documentation & 
Publication  1,458  1,526  -68 
    v) Other / Miscellaneous  48 10 38 
  4. Travel & Hospitality  i) Travel  7,693  4,762  2,931  
    ii) Hospitality  214 121 92 
  5. Implementing 
Partners  i) Implementing 
Partners  213 1,170  -957 
  6. Capital Expenditure  i) Procurement of Fixed 
Assets  2,555  2,138  417 
    ii) Rental & Leasing of 
Equipment  540 274 265 
  7. Financial 
Expenditure  i) Bank & Interest 
Charges  880 446 434 
    ii) Building Loan 
Reimbursement  1,200  1,200  - 
B Other Resources Total     28,921  26,788  2,133  
 
 Part B comprises the budget and expenditure for general services, travel and hospitality, 
activities jointly funded  by the WTO and third parties, as well as capital and financial expenditure. 
Savings of approximating CHF 2.1 million resulted under this cat egory. The savings were mostly due 
to the reduced travel as a result of the pandemic and lower expenses on energy and supplies as a 
result of energy -saving measures put in place by the Secretariat. In addition, energy costs had not 
yet reached a high point . 
 General Services  
Table 7 General Services Expenditure (in thousands of CHF ) 
Section  Line Account Description  Budget  Expenditure  Balance  
3. General 
Services  i) Telecommunication & 
Post Telecommunication  324 260 64 
    Post & Freight  217 123 94 
  ii) Contractual Services 
& Maintenance  Contractual Services  7,659  8,486  -827 
    Equipment 
Maintenance  2,312  1,771  541 
    Building Maintenance  1,433  2,938  -1,505  
    Insurance  194 116 78 
    Rental of Premises  15 30 -15 
  iii) Energy & Supplies  Electricity  570 596 -26 
    Water  54 39 15 
    Gas & Fuel  411 392 19 
    Supplies  931 388 543 
  iv) Documentation & 
Publication  Books  15 49 -34 
    Subscriptions  385 519 -134 
    Printing  320 349 -29 
    Publications  438 199 239 
    Media & Public 
Relations  300 190 110 WT/BFA/W/632/Rev.1  
 
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  Section  Line Account Description  Budget  Expenditure  Balance  
    Adjustments & Write -
Off5 - 220 -220 
  v) Other / 
Miscellaneous  Membership and 
Registration Fees  15 3 12 
    Advertising  20 3 17 
    Other / Miscellaneous  13 4 10 
3. General Services Total     15,626  16,676  -1,050  
 
 Under Telecommunications and Post, the savings were mainly related to the continued slowed 
down in activity occasioned by the pandemic.  
 Under Contractual Services, the overspending is mainly linked to the over-expenditure of 
CHF 1 million under the International Computing Centre (ICC) and an over -expenditure of 
CHF  0.1  million under cleaning services and is partly offset by savings under the External Security 
Provider. The expenditure under the ICC was du e to the increased need for IT tools for virtual 
meetings, IT security, and remote working as well as various IT projects.  
 The savings under Equipment Maintenance relate to IT, Security, and Conference 
Maintenance.  
 The expenditure under Building Maintenanc e includes a provision of CHF 1.8 million for 
repairing defects in the Extra -Muros building and the Welcome Pavilion, to be expended if the 
litigation process that is currently underway does not recognize the responsibility of the construction 
company that  did the original work relating to leaks and cracks in the parking garage, cracks in the 
tiling of the lobby and cafeteria floor, leaks under the exterior stairs, structural weak wooden terrace, 
and cracks in the tiling of the Welcome Pavilion.  
 The savings  under Supplies include savings of Documents Reproduction supplies, IT supplies, 
various supplies for the building, and medical supplies.  
 Under Documentation & Publications, the overspending on Library subscriptions of 
CHF 0.1 million due to the increase i n the cost of subscriptions is partly compensated by savings 
under Publications (CHF 0.2 million).  
 Financial Regulation 22 stipulates that commitments for future financial periods for normal 
ongoing activities that are more effectively procured using a mul ti-year approach should be listed in 
the financial reporting when they exceed CHF 2 million. The following multi -year contracts were in 
force as at 31 December  2022: 
a. Physical Security: CHF 18 million from 1 January 2019 to 31  December  2023.  
b. Service Desk (C ERFI): CHF 9.8 million from 1 January 2015 to 28 February 2024.  
c. United Nations International Computing Centre: USD 5.7 million from 1 January 2022 
to 31 December 2023.  
d. Cleaning Services: CHF 5 million from 1 January 2019 to 31  December  2023.  
e. Travel managem ent and visa processing services: CHF 4.5 million from 1 January 2014 
to 31 December 2022.  
f. Multi-technical maintenance for the WTO building: CHF 2.2 million from 1  January 2020 
to 31 December 2024.   
 
5 CHF 210 thousand for MC11 Write -Off. WT/BFA/W/632/Rev.1  
 
- 13 - 
 
  
 Travel and Hospitality  
Table 8 Travel and Hospitality (in thousands of CHF ) 
Section  Line Account Description  Budget  Expenditure  Balance  
4. Travel & 
Hospitality  i) Travel  Air & Rail Transportation  7,473  4,672  2,801  
    Insurance / Participants  220 90 130 
  ii) Hospitality  Hospitality & Meeting 
Refreshments  214 121 92 
4. Travel & Hospitality Total  7,907  4,883  3,023  
 
 Under Travel, the savings is mainly due to the fact that the first half of 2022 was still heavily 
affected by COVID -19 restrictions. A reduced number of in person technical assistance activities was 
organised, and the number of activities held in virtual mode was higher than during pre -pandemic 
years. Divisional travel ticked up only in the second half of the year. However , even though the 
extent of travel was reduced, the cost of travel and accommodation increased significantly. Overall, 
the underspent amount for travel and hospitality was CHF 3 million under Travel.  
 Implementing Partners  
Table 9 Implementing Partners (in thousands of CHF ) 
Section  Line Account Description  Budget  Expenditure  Balance  
5. Implementing 
Partners  i) Implementing 
Partners  Implementing Partners  213 1,170  -957 
5. Implementing Partners Total     213 1,170  -957 
 
 This budget line relates to events that are partially or fully funded by the WTO and executed 
by third party organizations, contributions to professional networks, contributions to the Staff 
Assistance Fund, and contributions to the International Labour Organisation (ILO) Administrative 
Tribunal. The expenditure in 2022 includes legal expenses related to several confidential legal cases, 
and an amount of CHF 0.8 million allocated for legal and arbitration fees related to the process 
pertaining to the Extra -Muros building and the Welcome Pavilion as described in paragraph 2.20. 
above.  
 Capital Expenditure  
Table 10 Capital Expenditure (in thousands of CHF ) 
Section  Line Account Description  Budget  Expenditure  Balance  
6. Capital 
Expenditure  i) Procurement of 
Fixed Assets  Office Furniture and 
Equipment  75 84 -9 
    Computing Hardware  630 557 73 
    Computing Software  1,400  1,260  140 
    Audio Visual & 
Telecommunication 
Equipment  250 143 107 
    Security Equipment  180 43 137 
    Vehicles  20 51 -31 
  ii) Rental & Leasing 
of Equipment  Rental and Leasing of 
Equipment  540 274 265 
6. Capital Expenditure Total     3,095  2,412  682 
 
 Under Capital expenditure, an overall savings of approximately CHF 0.7 million was realized.  
 Financial Expenditure  
Table 11 Financial Expenditure (in thousands of CHF ) 
Section  Line Account Description  Budget  Expenditure  Balance  
7. Financial 
Expenditure  i) Bank & Interest 
Charges  Bank Charges  880 446 434 
  ii) Building Loan 
Reimbursement  Building Loan 
Reimbursement  1,200  1,200  - 
7. Financial Expenditure Total     2,080  1,646  434 WT/BFA/W/632/Rev.1  
 
- 14 - 
 
  
 The Financial Expenditure Section includes the reimbursement of the 50 -year interest free 
loan for the Extra -muros building, as well as bank and interest charges.  
 Since 2015, Swiss banks have been charging negative interest on current account balances, 
above certain negotiated thresholds. The total cost for 2022 amounted to CHF 0.45 million. This was 
driven  by a combination of changes in the interest rate environment and Secretariat investments in 
money market funds that offered better rates than the commercial rate for cash.  
 Part C – Operating Funds and ITC  
Table 12 Operating Funds a nd ITC (in thousands of CHF ) 
Section  Line Account Description  Budget  Expenditure  Balance  
8. Contributions to 
ITC & Special 
Reserves  i) Contribution to ITC  Contribution to ITC  18,243  18,243  - 
  ii) Ministerial 
Conference 
Operating Fund  Ministerial Conference 
Operating Fund  600 600 - 
  iii) Building 
Renovation Fund  Building Renovation 
Fund 600 600 - 
8. Contributions to ITC & Special Reserves Total   19,443  19,443  - 
 
 Part C is related  to the contribution to the budget of the International Trade Centre and 
allocation to special purpose Funds of the WTO. The contribution to the ITC was CHF  18.2 million, 
and CHF 600,000 was allocated to the Ministerial Conference Operating Fund and the Bu ilding 
Renovation Fund, respectively.  
 Transfers between Budgetary Sections  
 The transfers depicted in Table 13 were necessary in 2022. In accordance with Financial 
Regulation 21 and Financial Rule 4.4, approval is requested to affirm the following transfers  and 
revised appropriations of budget amounts.  
Table 13 Proposed Transfers between Sections of the 2022 WTO Budget 
(in thousands  of CHF) 
Part Section  Budget  Expendi -
ture Balance  Proposed 
Transfers  Revised 
Appropri -
ations  Balance  
A Staffing 
Resources  1. Staff Expenditure  131,565  124,959  6,606  -6,606  124,959  - 
  2. Temporary 
Assistance  17,275  25,033  -7,759  7,759  25,033  - 
A Staffing Resources Total  148,840  149,993  -1,153  1,153  149,993  - 
B Other 
Resources  3. General Services  15,626  16,676  -1,050  1,050  16,676  - 
  4. Travel & 
Hospitality  7,907  4,883  3,023  -3,023  4,883  - 
  5. Implementing 
Partners  213 1,170  -957 957 1,170  - 
  6. Capital 
Expenditure  3,095  2,412  682 -136 2,959  546 
  7. Financial 
Expenditure  2,080  1,646  434 - 2,080  434 
B Other Resources Total  28,921  26,788  2,133  -1,153  27,768  980 
C Operating 
Funds and 
ITC 8. Contributions to 
ITC & Special 
Reserves  19,443  19,443  - - 19,443  - 
C Operating Funds and ITC 
Total  19,443  19,443  - - 19,443  - 
Grand Total  197,204  196,224  980 - 197,204  980 WT/BFA/W/632/Rev.1  
 
- 15 - 
 
  
 Expenditure by Output Chapter  
 Background  
 The Budget for the biennium 2016 -2017 was for the first time presented by Outputs, in 
addition to the traditional presentation  of the budgeted expenditure by budget line. Therefore, the 
Expenditure by Output Chapter is included in this Financial Performanc e Report.  
 The actual expenditure for 2022 is presented in the table below.  
 2022 Expenditure by Output Chapter Compared to the Output Budget  
Table 14 2022 Expenditure by Output Chapter (in thousands  of CHF) 
Output Chapter  2022 Budget  % of 
Total  2022 
Expenditure  % of 
Total  Budget vs 
Expenditure  
1. Facilitating Negotiations  9,500  5% 6,268  3% -3,232  
2. Administering Agreed WTO Rules  52,500  27% 60,970  31% 8,470  
3. Monitoring Trade Policies  26,000  13% 26,641  14% 641 
4. Settling Disputes  32,000  16% 22,240  11% -9,760  
5. Capacity Building  42,000  21% 38,587  20% -3,413  
6.  Assisting Accessions  5,000  3% 4,248  2% -752 
7. Conducting Research  15,500  8% 19,130  10% 3,630  
8. Reaching Out  14,704  7% 18,139  9% 3,435  
Grand Total  197,204    196,224    -980 
 
 Facilitating Negotiations  
 This Output Chapter includes various committees and negotiating groups related to the Doha 
Development Agenda negotiations such as the Trade Negotiations Committee, other negotiating 
groups, and special sessions. At the end of 2022, the expenditure was slightly below target. Given 
that the Ministerial Conference took place in June 2022, some activities that would otherwise be 
reported under Output Chapter 1 shifted to Output Chapter 2, which inclu des activities related to 
the Ministerial Conference.  
 Administering Agreed WTO Rules  
 This Output Chapter includes the Ministerial Conference, all Committees related to the 
General  Council and its Subsidiary Bodies, Committees related to the Council for Tra de in Goods and 
its Subsidiary Bodies, Committees related to the Council for Trade in Services and its Bodies, and 
the Council for Trade -related Aspects of Intellectual Property. The expenditure in 2022 exceeded the 
projection. Contributing to this fact wa s increased activity under the General Council and its Bodies 
and the Council for Trade in Goods and its Bodies, ahead of the Ministerial Conference.  
 Monitoring Trade Policies  
 This Output Chapter mainly comprises expenditure related to the WTO Trade Policy  Review 
Body, Trade Policy Reviews, and Trade Policy Monitoring.  The level of expenditures in this chapter 
was relatively flat.  
 Settling Disputes  
 This Output Chapter includes the Dispute Settlement Body, as well as pre -dispute activities, 
panels, and arbitration s. The actual expenditure for this Output Chapter for 2022 is lower than what 
was budgeted because of a reduction in staffing expenditure as some staff departed or went on 
special leave without pay without being immediately replaced, as well as the fact that the number 
of cases in the prior year (2021) was at a high.  
 Capacity Building  
 This Output Chapter comprises all activities related to capacity building courses and training, 
the Aid for Trade work programme, and the contribution to the Intern ational Trade Centre (ITC). WT/BFA/W/632/Rev.1  
 
- 16 - 
 
  The expenditure for this Output Chapter for 2022 was slightly lower than the projection. This was 
mainly due to the impact of the pandemic during the first half of the year, as technical assistance 
activities were held virtually  instead of in person.  
 Assisting Accessions  
 This Output Chapter includes activities related to the support of accessions.  
 Conducting Research  
 This Output Chapter relates to the WTO's publications such as the World Trade Report, the 
WTO Annual Report, resea rch reports and papers, knowledge management activities, and the 
management of WTO publications.  
 Reaching Out  
 This Output Chapter comprises outreach activities of the WTO, such as general press relations, 
general outreach to Members and the private sector,  key events such as the Public Forum and the 
Open Day, and work done with other international organizations. The expenditure for 2022 was 
higher than originally projected. The areas of increase included dialogue with Members, work with 
other international organisations, and dissemination of trade -related materials.   
  WT/BFA/W/632/Rev.1  
 
- 17 - 
 
  3  EXTRA -BUDGETARY PERFORMANCE  
 This part describes  the activities undertaken in 2022 using extra -budgetary funds, which are 
managed through Trust Funds and Administrative Funds. Trust Funds receive voluntary contributions 
whereas Administrative Funds are used to account for other fund flows that the WTO i s responsible 
for managing.  
 Trust Funds  
 Trust Fund Landscape  
 In addition  to its Regular Budget, the WTO receives voluntary contributions for selected 
programmes that are managed through Trust Funds. In 2022, Trust Fund expenditures amounted 
to CHF 17.2  million as shown in the notes to the financial statements further below.  
 The Global Trust Fund (hereinafter referred to as the "GTF") is the core Trust Fund for technical 
assistance. In 2022, a ctivities financed through the GTF were carried out based on the 2 022-23 
Biennial Technical Assistance and Training Plan.  
 Figure 3 is a consolidated depiction of key contributors to Trust Funds since 2013.  
Figure 3 Key Contributors  to Trust Funds Since 2013  
 
 
 
  
Sweden , 16%
Norway , 12%
European Union , 
10%
Netherlands , 
10%
France , 9%Germany , 9%United States , 7%Australia , 6%China , 4%Denmark , 3%Others , 14%WT/BFA/W/632/Rev.1  
 
- 18 - 
 
  Figure 4 Number of Contributors  Since the Inception of the Global Trust Fund  
 
 
 Figure 4 depicts the evolution in in the number of contributors  to the GTF and other Trust Funds 
since the inception of the GTF. From this data , the gradual movement of support from the GTF to 
other funds can be seen over the past 20 years.  
 Contribution and Expenditure per Trust Fund  
Table 15 Summary of Contributions and Expenditures (in thousands  of CHF) 
Trust Funds & Projects  Funds as at 
1 January 2022  Contributions 
Received  Expenditures  Adjustments6 Balance as at 
31 December 
2022  
Global Trust Fund  14,442  3,934  -4,200  -33 14,143  
French -Irish Mission Internship 
Programme  1,309  1,109  -1,054  -1 1,363  
Netherlands Trainee 
Programme  960 875 -726 -1 1,108  
China LDCs & Accessions 
Programme  851 476 -140 -1 1,186  
Subtotal  17,562  6,394  -6,120  -36 17,800  
Standards and Trade 
Development Facility (STDF)  16,080  8,667  -6,235  -22 18,490  
Trade Facilitation Agreement 
Facility  4,651  - -422 -6 4,223  
Subtotal  20,731  8,667  - 6,657  -28 22,713  
LDCs' Participation in WTO 
Ministerial Conferences  506 98 -464 -132 8 
LDC Graduation Fund  48 - -6 -42 - 
WTO Fisheries LDCs 
Participation  250 215 -30 - 435 
CDCRI: ASYCUDA TIVA 
Databases Project  570 - -100 -1 469 
CDCRI: Investment Facilitation 
for Development Project  24 - - - 24 
Subtotal  1,397  313 -600 -175 936 
Total  39,691  15,374  -13,377  -239 41,449  
 
6 Adjustments are comprised of negative bank interest for the year applied to contributions, 
reimbursements of contributions made to Contributors  during the year and other expenditure refunds.  
2422 22 232724
19 19 19
14 1513 13 12 13 12 11 12 1294
015
814
1118
1417
15 14
1420
151616
141715
15
051015202530354045
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Global Trust Fund Contributions Other contributionsWT/BFA/W/632/Rev.1  
 
- 19 - 
 
  
 Global Trust Fund  
 The Global Trust Fund was established in December 2001 to finance technical assistance 
programmes and training activities for developing and Least Developed Countries (LDCs) as well as 
economies in transition. The principal purpose for creating a core Trust Fund was to consolidate the 
numerous extra -budgetary funds in a single unearmarked Trust Fund, provi ding a stable financial 
basis for the delivery of the Technical Assistance Plan (TA Plan) adopted by Members7. The TA Plan 
is funded through a mixture of funds from the Regular Budget and voluntary contributions through 
trust funds.  
  More recently, the Gl obal Trust Fund started to receive both unearmarked and earmarked 
contributions. Previously earmarked contributions would have been registered as distinct Trust 
Funds. Over the past decade, earmarked funds represented on average a quarter of all voluntary 
contributions for TA. In 2021 the share of earmarked voluntary contributions was 42% , and the 
share of unearmarked voluntary contributions in the total funds available to finance the 
implementation of the TA Plan was 35%. In 2022 however, the proportion of  earmarked voluntary 
contributions grew to 53% , and the share of unearmarked funds in the total amount of resources 
available to finance the implementation of the TA Plan shrank to 27%.  
Figure 5 Receipts and Expenditures of the Glo bal Trust Fund from 201 3-2022  
 
 In 2022, the GTF received CHF 3.9 million of new contributions from 9  different contributors  
(Austria, Estonia, EU, France, Japan, Korea, Li echtenstein, Sweden , and U nited States). Of these, 
only 80% of the received new contributions were unearmarked contributions, and 20% were 
dedicated  for the WTO Chairs Programme.  
 On the expense side, the pandemic and the resulting travel restrictions were progressively 
lifted during the year, all owing face -to-face TA activities to resume as of June. A WTO High -Level 
Pacific Regional Event on Fisheries Subsidies was organized in Fiji, and a short Trade Policy Course 
for ALADI Member Countries took place in Montevideo, Uruguay, in November. In addit ion, other TA 
activities were delivered virtually, and online courses remained available throughout the year.  
 The various long -term internship programmes designed to allow participants to learn by doing 
(Regional Coordinator Internship and Young Profession al Programmes) were not significantly 
affected by the travel restrictions in 2022, because participants come to Geneva for extended periods 
of time (between 6 and 11 months).  
 In 2022, the Young Professional Programme welcomed 13 young graduates from LDCs a nd 
developing country Members not currently represented or with few staff members at the professional 
level in the Secretariat. The 2022 cohort came from Bangladesh, Barbados, Belize, Cameroon, 
 
7 The TA Plan for 2022 -23 is contained in document WT/COMTD/W/260/Rev.1.  
 - 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022Millions CHFGlobal Trust Fund
Expenditures
Contributions received &
Transfers
Available year-end
balance
Technical Assistance Plan
- TargetWT/BFA/W/632/Rev.1  
 
- 20 - 
 
  Georgia, Ghana, Kazakhstan, Kenya, Madagascar, Trinidad and To bago, Ukraine, Viet Nam , and 
Zambia.  
 In 2022, as part of the Regional Coordinator Internship Programme, five mid -level public 
officials were posted in the Geneva -based mission of each Member that was a coordinator of a 
regional grouping in the context of W TO work and for the duration of such tenure. These were 
Cameroon (for the African Group ), Jamaica and Kenya (for the ACP Group ), and Solomon Islands 
and Vanuatu (for the Pacific Islands Forum ). 
 In 2022, the WTO Chairs Programme entered its third Phase, with funding now focusing 
primarily on 17 academic institutions newly joining the programme and institutions from previous 
programme cycles remaining actively involved in the network now spanning a total of 36 Chairs 
across the world.  
 Offering TA ac tivities through virtual platforms leads to significant cost savings. However, 
since online and virtual TA activities do not fully substitute for face-to-face ones and cannot achieve 
the same objectives, their reduced effectiveness means that fewer gains c an be realized . 
Beneficiaries still prefer face -to-face TA activities. Few purely virtual TA activities were organised 
during the second part of the year when in -person TA activities became possible again. Virtual means 
of delivering TA were still used by the Secretariat, but in combination with other means in the context 
of blended TA activities. As a result, expenses in the GTF increased by 63% compared to 2021, 
whilst remaining well below their pre -pandemic level.  
 Overall, GTF expenses exceeded the contr ibutions received during the year by 8%.  
Figure 6 Expenditure by Key Results (Outcomes) of WTO Technical Assistance Plan  
 
 
 A detailed report on the TA implemented by the WTO is presented annually to the CTD.  
 Trade Facilitation Agreement Facility (TFAF)  
 The objective of the TFAF is to assist developing countries and LDCs find the support they 
need to implement the Trade Facilitation Agreement.  
 The role  of the Facility is to support the Trade Facilitation Committee's work in relation to 
assisting developing Members and LDCs in implementing the Agreement.  
Key Result 1 
Implementation of WTO 
Agreements and full use of 
Member's rights and 
obligations , 55%
Key Result 2 Acceding 
governments are 
participating in accession 
negotiations , 1%Key Result 3 Academic 
institutions and other 
stakeholders are analysing 
WTO issues and reaching 
out to policy makers , 13%Key Result 4 Non -
governmental 
stakeholders and 
legislators are aware of 
and knowledgeable about 
WTO work and issues , 8%Other costs , 23%Expenditure by Key Results of WTO Technical AssistanceWT/BFA/W/632/Rev.1  
 
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 To fulfil its role, the Facility prioritizes the following activities:  
a. The Grant Programme.  
b. Technical Assistance and Capacity Building.  
c. Engagement with Development par tners.  
d. Maintenance of the TFAF website.  
 In 2022 the WTO Trade Facilitation Committee (TFC) agreed on a new framework for the 
management and operation of the TFAF that supplements the TFAF Operational Guidelines. 8 New 
transparency and work planning approa ches were also agreed.  
 The TFAF organised over 20 technical assistance activities throughout the year with just under 
half concerning direct support provided to LDC Members to meet a deadline to notify definitive dates 
for Category C commitments to the TF C. Two regional workshops with the Association for Latin 
American Integration (ALADI) and the Pacific Island Forum Secretariat (PIFS) were also held. 
Activities continued to be disrupted by COVID -19-related travel restrictions , with the majority 
delivered remotely. In -person activities accelerated in the second half of the year. Assisting Members 
to meet notification deadlines and identifying implementation partners were the primary outputs of 
the activities held in 2022.  
 Partners stepped forward to support  the implementation of the TFA , and t he TFAF Grant 
Programme circulated five Expressions of Interest (EoI) in 2022. One EoI was developed into a 
Project Proposal Grant (PPG) application to be launched in early 2023. One EoI was unable to 
progress to a PPG application as the applicant Member was under administrative measures under 
the WTO Financial Regulations. One PPG project was completed in 2022 and matched with several 
development partners who stepped forward to propose implementation assistance for the two 
provisions of the TFA concerned. Another existing PPG project, finalised in 2021, was matched with 
an implementation partner in 2022.  
 The TFAF also managed the delivery of an external evaluation as mandated in its operational 
rules.  The evaluation was concluded by the end of the year. TFAF will work with Members in 2023 
to consider how to implement its recommendations.  
 Standards and Trade Development Facility  
 The Standards and Trade Development Facility (STDF)  is a global Aid -for-Trade partnership 
established by the WTO, together with the Food and Agriculture Organization (FAO) of the United 
Nations, the World Organi zation for Animal Health (WOAH, formerly OIE), the World Bank , and the 
World Health Organization (WHO). The STDF promotes improved food safety, supports animal and 
plant health capacity in developing countries , and helps imports and exports to meet sanitar y and 
phytosanitary (SPS) requirements for trade, based on international standards. The STDF contributes 
to sustainable economic growth, poverty reduction , and food security.  
 
8 G/TFA/3.  WT/BFA/W/632/Rev.1  
 
- 22 - 
 
  Figure 7 Contributions Received9 and Expenditures10 of the STDF from 2013 -2022  
 
 
 The adjusted balance in the graph reflects the year -end balance after deducting existing 
commitments and excluding contributions advanced for future years.  
 The work of the STDF is guided by a five -year Strategy (2020 -2024) , outlining STDF's role as 
a global platform for dialogue and learning on SPS capacity development. Drawing on the expertise 
of its partners, the STDF identifies, develops, and disseminates good practices and knowledge 
products that focus attention on topics that cut across food safety, animal and plant health, and 
trade. Through its grant mechanism, the STDF also finances the development and implem entation 
of collaborative and innovative SPS projects aiming to expand market access for developing 
countries. More information is available in STDF's Annual Report , which is presented to all STDF 
members and widely disseminated across STDF's broader network. The Annual Report is approved 
by the STDF Working Group. The report for 2022 is currently under preparation.  
 The French Irish Mission Internship Programme  
 The French Irish Mission I nternship Programme was launched in 2001. It aims to enhance the 
Interns' knowledge and understanding of the Multilateral Trading System and of trade policy in 
general , strengthen the understanding of the negotiation process at the WTO , and support small 
Missions in participating more actively in the daily activities at the WTO. The Interns work in their 
own country's Mission in Geneva for a period of up to ten months and represent their country on 
selected WTO Committees. This hands -on approach is designed  to provide them with exposure to 
the activities taking place at the WTO.  France contributed CHF 0.9 million and Ireland CHF 0.2 million 
to this programme during the year.  
 In 2022, this Trust Fund financed the costs related to 19 interns from the following countries: 
Angola, Bangladesh, Botswana, Côte d'Ivoire, Eswatini, Gambia, Guinea, Haiti, Kyrgyz Republic, Lao 
People's Democratic Republic, Liberia, Madagascar, Myanmar, Nigeria, Sri -Lanka, Tajikistan, 
Tanzania, Togo, and Zambia.  
 Netherlands Trai nee Programme  
 The Netherlands Trainee Programme was launched in 1999. It was recently agreed to extend 
the programme for the period from 2023 to 2028. The objective of the Programme is to generate 
tangible, measurable , and lasting capacity building in area s related to trade policy in LDCs, low -
income countries , and comparable poor and vulnerable economies to assist in their economic and 
social development. Selected junior public officials are posted to the Secretariat for a duration of up 
to ten months, giv ing them an opportunity to learn, by doing, about the matters dealt with in the 
WTO.  The Netherlands contributed CHF 0.9 million to this programme during the year.  
 
9 The contributions received in 2021 include multi -annual contributions from Finland until 2022 and from 
Germany (GIZ) until 2025 and contributions received in 2022 include multi -annual contributions from Australia 
until 2024 and from Germany (GIZ) until 2025.  
10 This amount does not include contracted commitments of CHF 8.76 million and uncontracted 
commitments of CHF 4.72  million in 2022.  
-505101520
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022Opening balance
Expenditures
Contributions received
Year-end balance
Adjusted balanceWT/BFA/W/632/Rev.1  
 
- 23 - 
 
  
 In 2022, this trust fund financed the costs related to 12 interns from the following countri es: 
Benin, Bhutan, Cambodia, Comoros, Ecuador, Ghana, Kenya, Mali, Mauritius, Namibia, Pakistan , and 
Sudan.  
 China LDCs and Accessions Programme  
 The China LDCs and Accessions Programme was established in July 2011. Its aim is to help 
strengthen LDC Members'  participation in relevant WTO activities and to help acceding LDCs to 
improve their capacity for accession.  
 Regarding the Accession internships financed by this programme, in 2022 eight interns were 
selected through an open process from a pool of over 500  candidates. The interns were from Brazil, 
Ghana, Vietnam, Lebanon, Afghanistan, Lao People's Democratic Republic, Sudan, and Grenada.  
 The Fifth South -South Dialogue on LDCs and Development was organized in Geneva on 
16 May 2022. Over 80 delegates, includi ng the General Council Chair, the Chairs of the negotiating 
bodies, and Ambassadors of the key trading partners, joined the Dialogue. The event focused on the 
current priorities in WTO negotiations, topics surrounding WTO reform, and emerging trends in glo bal 
trade and was inaugurated by the WTO Director -General.  
 The Tenth China Round Table on WTO Accessions took place virtually in January 2022.  
 LDCs' Participation in WTO Ministerial Conferences  
 Since the first WTO Ministerial Conference held in Singapore i n 1996, the WTO has facilitated 
the participation of LDCs in Ministerial Conferences, using voluntary contributions. Costs related to 
travel, accommodation, and per diem of LDC delegations, comprised of one Minister and two high 
level officials, are covere d. 
 The 12th Ministerial Conference took place in June 2022 in Geneva. The Trust Fund utilized 
contributions brought forward from previous years to finance LDC participation.  
 At the end of a given Ministerial Conference, the remaining balance is usually car ried forward 
and new contributions added to it for subsequent Ministerial Conferences, unless any specific 
contributor requests the return of their funds. The balance remaining after MC12 was only 
CHF 8,000.  
 WTO LDC Fisheries Negotiations Trust Fund  
 This Trust Fund was established in response to requests for financial support by LDCs in the 
Rules Negotiating Group and HODs/TNC/GC meetings. Its sole purpose is financing the travel costs 
of fisheries officials from LDC capitals to take part in fisheries  subsidies cluster meetings.  
 The COVID -19 pandemic interrupted in person activities under this fund in 2022.  
 WTO LDC Graduation Trust Fund  
 The LDC Graduation Fund started  operations  on 12 March 2019. The targeted activities were 
concluded at the end of 202 0, and the remaining balance was closed in early 2022.  
 China Development Cooperation Research Initiative (CDCRI)  
 The CDCRI was  established to strengthen collaboration in research and research -related 
technical assistance and capacity building for trade.  
 There are two projects under the CDRCI : Investment Facilitation for Development and 
ASYCUDA/TiVA Databases.  
a. CDCRI: Investment Facilitation for Development Project  - The Investment Facilitation 
for Development project was established in 2017 to assist developing countries and WT/BFA/W/632/Rev.1  
 
- 24 - 
 
  LDCs to deepen their understanding of multilateral approaches to facilitating investment 
for development. The initial activities of this project were the organization of reg ional 
investment facilitation partnership forums. The focus transitioned to research and 
database development with the launch of a global database integrating trade and 
investment data with an expanded database of investment facilitation measures. The 
Investment Facilitation for Development project has been completed.  
b. CDCRI: ASYCUDA TIVA Databases Project - The "Improving Access to Trade and Market 
Access Statistics and Developing Trade In Value -Added Databases " project was 
established in the second half of  2019. The objective of this project is to assist LDC 
Members to notify WTO relevant data through a tool integrated into the UNCTAD 
ASYCUDA (Automated System for Custom Data) and to build  national trade in value 
added (TiVA) data collection and production capabilities in selected African economies.  
 The substantive implementation started in 2020 through partnerships with relevant 
international, regional, and national institutions and experts from academia, National Statistical 
Offices, or Central Banks. The next step was to engage with beneficiary governments and data 
providers (online training and regional workshops were organized). The scope includes providing IT 
and statistical or other expert advice, piloting the system in selected beneficiary countries, 
organizing relevant workshops and seminars, and providing administrative implementation support. 
The COVID -19 pandemic inevitably led to some difficulties and delays in finalizing arrangements 
with several Members and implementing the initial work schedule . In 2022, technical assistance 
missions were organized for the first time and benefitted from closer collaboration with national 
statisticians. The project duration was extended until July 2023 to compensate for delays in activities 
due to the pandemic.  
 The following Members are participating in this project: Cameroon, Côte d'Ivoire, Egypt, 
Madagascar, Nigeria, Senegal, and Togo.  
 Administrative Funds  
 Administrative Funds are used to account for other Trust Fund flows that the WTO is 
responsible for managin g. 
Table 16 Summary of contributions and Expenditures per Administrative Fund  
(in thousands  of CHF) 
Programme  Funds as at 
1 January 
2022  Contributions 
Received  Expenditures  Adjustments 
or 
Overheads11 Balance as at 
31 December 
2022  
Enhanced Integrated 
Framework Executive 
Secretariat  534  3,682  -3,875  -2  340  
Independent Entity: Pre -
Shipment Inspection Deposits  88  - - - 88  
Programme Support Fund  709 - -1,614  1,679  774 
Total  1,330  3,682  -5,490  1,677  1,202  
 
 Enhanced Integrated Framework Executive Secretariat  
 The EIF Partnership, composed of beneficiary countries, contributors , and partner agencies, 
works closely with governments, development organizations, and the civil society to  assist LDCs use 
trade as an engine for development and poverty reduction. EIF works with partner countries to 
harness trade for economic growth,  poverty reduction, and sustainable development.  
 The EIF's executive secretariat was established in 2008 and is housed at the WTO. 
The International Bank for Reconstruction and Development, the International Monetary Fund, 
 
11 Adjustments comprise negative bank interest for the year applied to contributions, reimbursements of 
contributions made to Contributors  during the year and other expenditure refunds. Overheads are equivalent to 
13% of the direct costs i ncurred by Trust Funds administered by the WTO and are transferred to the 
Programme Support Fund (PSF).  WT/BFA/W/632/Rev.1  
 
- 25 - 
 
  the International Trade Centre, the United Nations Conference on Trade and Development, 
the United  Nations Development Programme, and the World Trade Organization (coll ectively 
"EIF Agencies "), together with EIF LDCs and all contributors , constitute the partners of the EIF.  
 Under the agreement to host the EIF's executive secretariat, the administrative funds that 
pass through WTO accounts cover its operational costs such  as staff compensation, office rental, 
travel and insurance expenses, monitoring and evaluation costs, and communications -related costs. 
These funds do not include any of the programmatic activities that are funded through a separately 
managed and administ ered trust fund that is not part of the WTO accounts.  
  Independent Entity – Pre-Shipment Inspection Deposits  
 Independent Entity (IE) is a mechanism for settling disputes between exporters and pre -
shipment inspection companies/agencies. It is constituted by  the WTO, International Chamber of 
Commerce and the International Federation of Inspection Agencies. The fund is established under 
Article 4 of the Agreement on Pre -shipment Inspection.  
 Deposit payments from the following pre -shipment inspection companies have been received 
to cover the estimated costs of an independent review in the event of a dispute, as required by the 
terms of reference of the Agreement: Bureau Veritas International, Cotecna Inspection Limited, 
Inspectorate Griffith Limited, and Inchcap e Testing Services International Limited.  
 This Trust Fund has never been drawn on since its establishment in 1995, but nonetheless is 
considered to serve a purpose in the context of the Agreement on Pre -shipment Inspection.  
 Programme Support Fund  
 The purpose of the Programme Support Fund (PSF) is to finance expenses directly or indirectly 
related to supporting the delivery of WTO technical assistance and capacity building. The PSF is 
principally used to fund posts that are funded from extra -budgeta ry resources (L -Posts).  
 Programme Support Costs are generally charged at a rate of 13% of the direct costs incurred 
by Trust Funds administered by the WTO and are transferred to the PSF.  
 The WTO may allocate a portion of the Programme Support Costs to Trus t Funds that it 
manages with implem enting partners. In accordance with Financial Regulation 19, 10% of the 
expenses in the PSF are statutorily credited back to the WTO Regular Budget to cover some 
overheads (e.g. , utilities) for services used in the delive ry of activities financed from the extra -
budgetary funds.   WT/BFA/W/632/Rev.1  
 
- 26 - 
 
  4  FINANCIAL STATEMENTS  
 Management Letter of Representation  
 These financial statements are prepared in accordance with the World Trade Organization's 
(hereinafter "WTO") Financial Regulations, Financ ial Rules and International Public Sector Accounting 
Standards (IPSAS). The management of the WTO Secretariat is responsible for the annual financial 
statements of the WTO and all other information presented therewith. The financial disclosures form 
part o f the financial statements and are intended to fairly present the WTO's financial results in a 
manner that is complete and understandable.  
 The Management of the WTO is responsible for establishing and maintaining adequate internal 
controls over financial r eporting so as to provide reasonable assurance regarding the reliability of 
the financial statements. This includes policies and procedures that: enable the maintenance of 
records that accurately and fairly reflect the transactions of the WTO; provide reas onable assurance 
that transactions are authorized and recorded in compliance with the WTO's Financial Regulations 
and Financial Rules; and provide reasonable assurance regarding the prevention or timely detection 
of unauthorized acquisition, use or disposa l of the WTO's assets. However, due to the inherent 
limitations of internal controls, they will not prevent or detect all misstatements.  
 The Management of the WTO is of the view that these financial statements fairly present the 
WTO's financial performance  for the year ended 31 December 2022 and financial position as at 
31December 2022. These statements have been audited by External Auditors appointed by the WTO 
General Council. The report from the External Auditors with the opinion is contained in the foll owing 
pages.  
  
 
 
 
 
 
 
 (signed)  (signed)  
__________________________________  
 __________________________________  
 
 
 
 Ngozi Okonjo -Iweala  Nthisana Phillips  
 Director -General  Director  
  Administration and General Service Division  
 
 
 
 
 
  (signed)  
 __________________________________  
 
  Francesco Perlini  
  Head of Financial Operations  
  
 
 
 
  WT/BFA/W/632/Rev.1  
 
- 27 - 
 
  
 Opinion of the External Auditor  
 
 
 
 
 
 
 
Le Premier président    
  Paris, 1 June  2023  
 
To 
H.E. Dr. Bettina WALDMANN  
Chair of the Committee on Budget, Finance and  
Administration  
of the World Trade Organization  
 
 
AUDIT OPINION  
 
 
Opinion  
 
We have audited the Financial Statements of the World Trade Organization (WTO) for the 12 months 
period ended 31 December 2022. These Financial Statements include a Statement of Financial 
Position as at 31 December 2022, a Statement of Financial Performance, a Statement of Changes in 
Net Assets/Equity, a Statement of Cash Flow and Notes including a summary of the accounting 
policie s and other information.  
 
In our opinion, the Financial Statements give a fair view of the Financial Position of the World Trade 
Organization as at 31 December 2022, as well as the Financial Performance, the Changes in Net 
Assets/Equity and the Cash Flow for the 12 month period end ed 31 December 2022 in conformity 
with the International Public Sector Accounting Standards (IPSAS).  
 
 
Basis for Opinion  
 
We have conducted our audit in accordance with the International Standards on Auditing (ISA) and 
in accordance with the Financial Regu lations of the Organization. These Standards require us to 
comply with the ethical rules and to plan and perform our audit in order to obtain a reasonable 
assurance that the Financial Statements are free from material misstatements. As required by the 
Charter of ethics of the Cour des comptes , we guarantee the independence, the fairness, the 
neutrality, the integrity and the professional discretion of the auditors. Furthermore, we also fulfilled 
our other ethical obligations in compliance with the Code of E thics of the International Organization 
of Supreme Audit Institutions (INTOSAI). The responsibilities of the External Auditor are more 
extensively described in the section "Auditor's Responsibilities for the Audit of the Financial 
Statements".  
 
We believe that the audit evidence collected is sufficient and appropriate to constitute a reasonable  
basis for our opinion.  
 
 
 
 
 
…/ WT/BFA/W/632/Rev.1  
 
- 28 - 
 
  Management's Responsibilities for the Financial Statements  
 
Within the framework of Article 35 of the Financial Regulations of the Wor ld Trade Organization the 
Director General of the World Trade Organization is responsible for preparing and presenting the 
Financial Statements. By virtue of Article 32 of the aforementioned regulations these statements are 
to be in conformity with the International Public Sector Accounting Standards  (IPSAS) . This 
responsibility includes the design, implementation and monitoring of internal control procedures to 
ensure the preparation and the fair presentation of Financial Statements, free of significant  
misstatements, resulting either from fraud or error. This responsibility also includes the 
determination of fair accounting estimates adapted to the circumstances.  
 
 
Auditor's Responsibilities for the Audit of the Financial Statements  
 
The goal of the aud it is to obtain reasonable assurance about whether the Financial Statements as 
a whole are free from material misstatement, whether due to fraud or error. Reasonable assurance 
is a high level of assurance but is not a guarantee that an audit conducted in a ccordance with ISAs 
will always detect a material misstatement when it exists.  
Misstatements can arise from fraud or error and are considered material if, individually or in the 
aggregate, they could reasonably be expected to influence the economic decisio ns of users taken on 
the basis of these financial statements.  
 
An audit therefore consists in implementing audit procedures in order to collect audit evidence 
regarding the amounts and the information presented in the Financial Statements . The External 
Auditor takes into account the internal control in effect in the e ntity, relative to the establishment 
and preparation of Financial Statements , so as to define appropriate audit procedures in the 
circumstances, and not with the aim of expressing an opinion on the effectiveness of this control. 
The choice of the audit pro cedures is based on the External Auditor's professional judgment, as is 
the case for the risk evaluation of the Financial Statements , for the assessment of the 
appropriateness of the accounting policies and of the accounting estimates, and for the overall 
presentation of the Financial Statements . WT/BFA/W/632/Rev.1  
 
- 29 - 
 
  
 WTO Financial Statements  
Table 17 Statement of Financial Position  
Statement of Financial Position     
in thousands  of CHF Notes  31/12/2022  31/12/2021  
ASSETS       
Current Assets       
Cash and Cash Equivalents  4         192,921           186,944  
Receivables from Members  5 2,925  26,261  
Receivables from Observers  5 986  912  
Inventories  6 337  351  
Other Receivables  7 2,030  3,764  
Advances and Prepayments  7 3,848  3,993  
Total Current Assets            203,046            222,223  
       
Non-current assets       
Building  8 106,353  109,352  
Equipment  8 2,845  4,816  
Intangible Assets  9 1,029  1,319  
WTO Pension Plan Assets  14 641,316  739,122  
    
Total Non-current Assets            751,544            854,609  
Total Assets (A)   954,590  1,076,832  
       
LIABILITIES       
Current Liabilities       
Payables  10 3,066  4,355  
Surplus due to Members  10 -  9,800  
Accruals  10 839  249  
Provisions  11 14,069  11,682  
Assessed Contributions Received in Advance  12 10,230  26,225  
Voluntary Contributions Refundable to Contributors  13 44,012  41,247  
Short -term Employee Benefits  14 14,330  14,913  
Total Current Liabilities   86,545  108,471  
Non-current liabilities       
Loan  15 48,000  49,200  
Pension Benefits  14 1,405,035  1,437,747  
After Service Health Insurance benefits  14 240,119  293,655  
Other Long -term Employee Benefits  14 9,352  11,462  
Total Non -current Liabilities   1,702,506  1,792,063  
Total Liabilities (B)   1,789,051  1,900,534  
Total Net Assets/Equity (A -B)  -834,461  -823,701  
       
Net Assets/Equity       
Working Capital Fund  16 70,258  71,199  
Actuarial Gain/(Loss)   152,444  92,514  
Accumulated Surplus/(Deficit)   -1,121,996  -1,053,020  
Provision for Right of Use – Centre William Rappard  8 55,556  56,162  
Reserves  17 36,997  34,646  
IPSAS Budget Allocation and Provisions for Building 
Renovation Fund  17 -22,660  -22,060  
IPSAS Budget Allocation and Provisions for Special 
Reserve Account  17 -5,060  -3,142  
Total net assets/equity   -834,461  -823,701  
  WT/BFA/W/632/Rev.1  
 
- 30 - 
 
  Table 18 Statement of Financial Performance  
Statement of Financial Performance        
in thousands  of CHF Notes  2022  2021  
REVENUE        
Contributions Assessed on Members  18 195,500  195,500  
Contributions of Observers  18 616  645  
Voluntary contributions on trust funds  18 17,241  13,684  
Revenue from Publications  18 332  354  
Other revenue  18 1,646  1,606  
        
Total revenue (A)    215,335  211,789  
        
EXPENSES        
Staff Expenditure  19 126,675  136,765  
Actuarial Cost for ASHI  19 17,148  16,408  
Actuarial Cost for pension  19 41,549  33,130  
Actuarial WTOPP net return  19 12,793  1,827  
Temporary Assistance  19 28,769  27,980  
Supplies and Other General Service Costs  19 19,733  17,621  
Travel & Hospitality  19 6,547  978  
Implementing Partners  19 6,067  2,286  
Contribution to ITC  19 18,243  18,243  
Ministerial Conference Operating Fund (variation)  19 -493  -518  
Depreciation  19 5,552  5,413  
Provision for contribution in arrears  19 1,709  -436  
Depreciation of provision for right of use - CWR 19 -606  -606  
Finance Costs  19 507  999  
Loss on foreign exchange transactions  19 119  -88  
        
Total Expenses (B)    284,312  260,001  
        
Surplus/(Deficit) for the Period (A -B)   -68,976  -48,212  
 
Table 19 Statement of Changes in Net Assets/Equity  
WORLD TRADE ORGANIZATION  
AS AT DECEMBER 31, 2022 ( in thousands of CHF ) 
in thousands  of  
CHF WCF12 Actuarial 
Gain (Loss) Ac. Surplus/ 
(Deficit)  Right of 
use BRF13 SRA14 Reserves  Total Net 
Assets/ 
Equity  
Balance at 
31/12/2021  71,199  92,514  -1,053,020  56,162  -22,060  -3,142  34,646  -823,701  
Increase 
(decrease) in 
WCF -941   -  -     -   -   -   -  -941  
Adjustment IPSAS 
Opening Balance   -   -  -     -   -   -   -  -    
Actuarial 
gain/(loss)   -  59,93015   -   -   -   -   -  59,930  
Recognition right 
of surface    -   -  -606   -   -   -  -606  
Allocation to BRF   -   -   -   -  -600   -   -  -600  
Allocation to SRA   -   -   -   -   -   -1,918   -  -1,918  
Financial 
Surplus/Deficit for 
the period   -   -  -68,976   -   -   -   -  -68,976   
Reserves   -   -   -   -   -   -  2,352  2,352  
Balance at 
31/12/2022  70,258  152,444  -1,121,996  55,556  -22,660  -5,060  36,997  -834,461  
  
 
12 Working Capital Fund.  
13 Building Renovation Fund.  
14 Special Account Reserve Fund.  
15 CHF 59,930 thousands explained by an actuarial loss of CHF 667,626  thousand from the discount rate 
modification from Average Rate to Spot Rate in 2022 and an actuarial gain of CHF 727,556 thousand coming 
from the yearly difference in the S pot Rate from 0.3% in 2021 to 2.3% in 2022. See note 14.  WT/BFA/W/632/Rev.1  
 
- 31 - 
 
  Table 20 Statement of Cash Flow  
WORLD TRADE ORGANIZATION      
AS AT DECEMBER 31 (in thousands of CHF)  2022  2021  
Cash Flows from Operating Activities      
Surplus/Deficit from Ordinary Activities              -68,976              -48,212  
Depreciation and Amortisation                 5,552                 5,413  
Right of use - Centre William Rappard                  -606                  -606  
Provision for Contribution in Arrears                 1,709                  -436  
(Increase) / Decrease in Receivables from Members and Observers               21,553                 2,660  
(Increase) / Decrease in Inventories                     13                      -1  
(Increase) / Decrease in Other Receivables                 1,734                  -786  
(Increase) / Decrease in Pension Assets               97,806              -74,627  
(Increase) / Decrease in Advances and Prepayments                   145                  -228  
Increase / (Decrease) in Payables                -1,289                     54  
Increase/ (Decrease) Payables due to Members from Surplus                -9,800                 9,800  
Increase / (Decrease) in Accruals                   590                   190  
Increase / (Decrease) in Provisions                 2,388                 3,707  
Increase / (Decrease) in Contributions Received in Advance              -15,995               21,483  
Increase / (Decrease) in Voluntary Contributions Refundable                 2,764                 5,502  
Increase / (Decrease) in Employee Benefits              -88,941               58,613  
Increase/ (Decrease) IPSAS Opening Balance                     -                      -88  
Actuarial Gain / (Loss)               59,930               69,263  
Increase/(Decrease) Reserves                 2,352                 2,390  
Increase/(Decrease) Extraordinary Budgetary Re-allocation                -2,518                  -600  
Increase/(Decrease) Working Capital Fund                  -941    
Increase/(Decrease) Surplus Account                     -                  -9,800  
Net Cash Flows from Operating Activities                   7,468                 43,693  
      
Cash Flows from Investing Activities      
(Increase) / Decrease Property, Plant and Equipment                  -582                  -825  
(Increase) / Decrease of Intangible Assets                   290                  -659  
Net Cash Flows from Investing Activities                     -293                  -1,483  
      
Cash Flows from Financing Activities      
Increase / (Decrease) of Loans                -1,200                -1,200  
      
Net Cash Flows from Financing Activities                  -1,200                  -1,200  
      
Net Increase /(Decrease) in Cash and Cash Equivalents                   5,976                 41,010  
      
Cash and Cash Equivalents as at 1 January             186,944             145,934  
      
Cash and Cash Equivalents as at 31 December               192,920               186,944  
 
  WT/BFA/W/632/Rev.1  
 
- 32 - 
 
  
 Notes to the Financial Statements  
 Note 1 Accounting Policies  
4.4.1.1   Basis of preparation  
 The financial statements of the WTO have been prepared on the accrual basis of accounting in 
accordance with IPSAS.  
4.4.1.2   Consolidation  
 The International Trade Centre (ITC) is a technical co -operation agency of the United Nations 
(UN) and the WTO for Trade -related Technical Assistance. The ITC has been in operat ion since 1968 
under the joint aegis of the GATT and the UN, the latter acting through the United Nations Conference 
for Trade and Dev elopment (UNCTAD).  
 In accordance with IPSAS 35, 36 and 37 ITC is not considered as being a jointly -controlled 
entity. Therefore, its financial statements are not consolidated into those of the WTO.  
4.4.1.3   Foreign currency  
 The functional and reporting currency of the WTO is Swiss Francs (CHF). Transactions 
denominated in foreign currencies (other than assessed contributions from Members and Observers), 
are converted into CHF using the official United Nations exchange rate on  the date of the transaction. 
Assessed contributions received in a currency other than CHF are converted and credited at the bank 
rate of exchange applicable on the value date. Monetary assets and liabilities in currencies other 
than CHF are converted into  CHF applying the year -end United Nations exchange rate.  
4.4.1.4   Segment reporting  
 A segment is a distinguishable activity or group of activities for which financial information is 
reported separately. WTO activities are classified into two segments: i) Regular Budget; and ii) Trust 
Funds.  
4.4.1.5   Use of estimates  
 The preparation of financial statements includes the use of accounting estimates as well as 
management assumptions and judgement. The areas where estimates are used include obligations 
for post -employment benefit s; provision for litigation; accrued charges; the risk of lack of collection 
of accounts receivable; contingent assets and liabilities; and the degree of impairment of fixed 
assets. Actual results could differ from these estimates. Changes in estimates are  reflected in the 
period in which they become known.  
4.4.1.6   Cash and cash equivalents  
 Cash and cash equivalents comprise cash in hand and cash accounts at banks. Cash and cash 
equivalents that can only be used for a specific purpose are considered as restricted.  
 The Cash Flow Statement is prepared using the indirect method.  
4.4.1.7   Receivables  
 Receivables are recognised at nominal value less any allowances for estimated irrecoverable 
amounts. Discounting on receivables is not applied unless the effect is expected to be si gnificant.  
 For uncollected assessed contributions, an allowance for non -recoverable receivables is 
recorded a ccording to the WTO Financial Regulations. The methodology for provision for outstanding 
assessed contributions from Members and Observers is based on the number of years of outstanding 
contributions as per Table below.  WT/BFA/W/632/Rev.1  
 
- 33 - 
 
  Table 21 Level of Provisions for Outstanding Contributions  
Members and Observers with Outstanding 
Contributions at Year-end Level of Provision  
Greater than 3 years  100%  
From 2 to 3 years  75% 
Greater than 1 year but less than 2 years  50% 
≤ 1 year  0% 
 
4.4.1.8   Advances and prepayments  
 A discount factor on advances and prepaymen t is applied only  if the effect is expected to be 
significant and material.  
4.4.1.9   Inventories  
 Inventories include the value of publications and souvenirs held for sale and those distributed 
free of charge. The cost of acquired publications and souvenirs includes the purchase price as well 
as the transport costs. The cost of publications produced in -house includes the cost of supplies 
(paper), rental of equipment (including maintenance and ink) as well as the staff costs directly 
attributed to inventory. For in -house publications sen t to the WTO's outsourced distribution storage, 
the cost also includes the relevant transportation costs. The cost of inventories is assigned in line 
with the weighted average cost formula.  
 An annual physical inventory is conducted for the stock of publica tions and souvenirs held in -
house and at the distributor's storage. At the end of each year, items that are either damaged or 
obsolete are written down to reflect net realizable value. Obsolete publications are identified by 
making a title-by-title analysi s based on statistics of the last three years' sales and distribution.  
4.4.1.10   Property, Plant and Equipment  
 Property, Plant and Equipment is recognised at historical cost less any accumulated 
depreciation and impairment loss. Buildings and construction in use are  valued at the cost of 
construction plus the cost of subsequent improvements, less accumulated depreciation.  
 The following thresholds are defined for the recognition of Property, Plant and Equipment:  
• Any asset with a value above CHF  5,000 is fully capitali zed when acquired individually.  
• Any asset with a value above CHF 2,500 is fully capitalized when acquired as part of a 
lot with a total value above CHF 50,000.  
• Any asset, irrespective of its value, is fully capitalized when acquired as part of a lot 
with a  total value above CHF 500,000.  
 Contributions in -kind relating to Property, Plant and Equipment, such as the donated surface 
right to use the land on which WTO headquarters stand, are recognised in the financial statements 
and disclosed in the notes.  
 The c arrying values of Property, Plant and Equipment are reviewed for impairment if events 
or changes in circumstances indicate that the book value of the asset may not be recoverable. If 
such an indication exists, the recoverable amount of the asset is estimat ed to determine the extent 
of impairment loss, if any. Any impairment loss is recognized in the Statement of Financial 
Performance.  
 Depreciation is provided for Property, Plant and Equipment using the straight -line method, 
except for land which is not subj ect to depreciation.  
 The useful lives of major classes of assets have been estimated as follows:  WT/BFA/W/632/Rev.1  
 
- 34 - 
 
  Table 22 Useful Life of Classes of Assets  
Class  Estimated useful life (years)  
Centre William Rappard building  99 years  
Structural components of the building  50 years  
Building carpentry  25 years  
Waterproof system  and elevator  15 years  
Furniture  10 years  
Reproduction equipment  5 or 10 years  
Audio -visual equipment  10 years  
Computer equipment /software  4 years  
Security equipment  10 years  
Windows Heating  Ventilation and Air Conditioning 
equipment  25 years  
Vehicles  5 years  
 
 Damaged assets are impaired at year -end based on information received.  
 Heritage assets are not r eflected  in the financial statements.  
4.4.1.11   Intangible Assets  
 Intangible assets are stated at historical cost less accumulated depreciation and impairment. 
Depreciation is provided over the estimated useful life ( four years) using the straight -line method. 
Licence right s lasting one year are expensed during the year.  
 Maintenance and upgrade costs for software are recognised as expenditure. The cost of 
software bought at the same time as associated hardware is included in the hardware cost.  
 Copyrights, preproduction costs  for publications, WTO website costs and internal and external 
development costs for databases are not recognised as intangible assets.  
 Acquired computer software licenses are capitalized based on costs incurred to acquire and 
bring to use the specific sof tware following the same thresholds applicable to Property, Plant and 
Equipment. The cost of software bought at the same time as associated hardware is included in the 
hardware cost. Internally developed software is recognized as an asset if its value exce eds 
CHF 500,000.  
4.4.1.12   Employee benefits  
 WTO employee benefits are classified as follows:  
a. Short -term employee benefits are due to be settled within 12 months of the reporting 
date and are measured at their nominal values based on accrued entitlements at current  
rates of pay. They include first -time employment benefits (installation grants); regular 
monthly benefits (salaries, and allowances); compensated absences (paid sick leave or 
maternity leave); annual leave ; and other short -term benefits for international staff 
members (education grant, home leave).  
b. Post-employment benefits comprise the estimated actuarial liability of defined benefit 
plans for retirement and the ASHI cover.  
c. Other long -term benefits include separation and removal costs . 
 The actuarial liability is the present value of the defined benefit obligations (relating to pension 
and ASHI) at the reporting date. Similarly, the fair value of the WTO Pension Plan (WTOPP) is shown 
among the non -current assets of the Financial Statements. T he assets of the WTOPP shall be 
exclusively used for the purposes outlined in the Pension Plan's Regulations . 
 The WTOPP is a separate entity with its own management, governance processes and 
reporting mechanisms to the General Council. It produces its own financial statements that are 
reported and approved by the General Council, independently from the financial statements of the 
WTO Secretariat.  WT/BFA/W/632/Rev.1  
 
- 35 - 
 
  
 The benefit obligation is calculated annually by an independent actuary using the projected 
unit credit method16. The actuarial gains or losses arising from experience adjustments and changes 
in actuarial assumptions are recognized immediately in net assets.  
 The ASHI liability is funded on a pay -as-you-go basis . An annual report updating Members 
about ASHI and the m edical plan  is presented separately . 
 Other long -term benefits include the lump sum option for removal costs for international staff 
members and separation grant. These are calculated in -house and are discounted using the same 
rate as the one used for the valuation of the WTOPP and ASHI.  
4.4.1.13   Provisions and contingent liabilities  
 Provisions are recognized when the WTO has a legal or constructive obligation as a result of 
a past event, whereby it is probable that an outflow of resources will be required to se ttle the 
obligation and where a reliable estimate of the amount of the obligation can be made.  
4.4.1.14   Tax 
 The WTO assets, income and other property are exempt from taxation.  
4.4.1.15   Revenue recognition  
 Revenue from assessed contributions as well as voluntary contribution s is recognised as non -
exchange transactions as per IPSAS 23:  
a. Assessed contributions are recognised as revenue at the beginning of the year to which 
they relate.  
b. Voluntary contributions received by the WTO have conditions governing their use. At 
the recept ion of the funds, the WTO recognises an asset (cash and cash equivalent) and 
a liability (refundable voluntary contributions). Revenue is recognised when carrying 
out the specified performance and the conditional liability is therefore discharged. 
Voluntar y contributions are therefore recognised up to the amount expensed in the 
period.  Such agreements require initial recognition of a liability to defer revenue 
recognition and then revenue is recognized as the liability is discharged through 
performance of t he specific conditions included in the agreement . 
 Revenue from exchange transactions (mainly sale of publications, interest earned and rental 
of meeting rooms) is recognised when goods or services are delivered.  
 In-kind contributions of services are not re cognised in the financial statements.  
4.4.1.16   Expenses  
 Under accrual accounting, expenses are recognised at the time of delivery of goods or services 
by the supplier or service provider.  
 The WTO signs agreements with partners to implement Trade -related Technical A ssistance 
activities. Recognition is based on the delivery principle. Most of the projects relate to activities 
which last a maximum of two months. For multi -year projects, the recognition principle is based on 
the disbursement made upon validation of prog ress reports and correspond ing to the costs incurred 
by the beneficiary.  
 
16 The projected unit credi t method is an actuarial valuation method that views each period of service as 
giving rise to an additional “unit” of benefit entitlement and measures each unit separately to build up the final 
obligation.  WT/BFA/W/632/Rev.1  
 
- 36 - 
 
  4.4.1.17   Use of Estimates  
 The preparation of financial statements includes the use of accounting estimates as well as 
management assumptions and judgement. Estimates include but are not limite d to: 
post-employment benefits , other employee benefits , provision for litigation , financial risk on 
accounts receivable , accrued charges , and the degree of impairment of fixed assets. Actual results 
could differ from these estimates. Changes in estimates are reflected in the period in which they 
become known.  
 Note 2 Financial Risk Policy  
 Counterparty risk:  The preservation of capital is the primary objective when investing funds. 
In order to limit counterparty risk, funds are deposited with three internationally recognized financial 
institutions: UBS AG, Credit Suisse AG , BCGE  and PostFinance.  
 Foreign curre ncy exchange risk:  The exposure to the foreign exchange rate risk is reduced 
by maintaining most funds in CHF, the Organization's base currency. The combined permissible 
maximum holding in foreign currency is 10% of overall funds.  
 Interest and market risks:  Interest and market risks are mitigated against as speculation 
on interest rates is strictly forbidden . The Treasury Policy prescribes that a minimum of 70% be held 
in cash and cash equivalents and up to a maximum of 30% in bonds. Investment in equi ties, hedge 
funds, derivatives and alternative asset classes is prohibited.  
 Liquidity risk:  The level of funds available is maintained to meet the payment requirements 
of the WTO. The investment duration takes the uncertain timing of the receipt of Members ' 
contributions and the cash -flow requirements into account.  
 Note 3 Negative Interest and Negative Equity  
 In 2022 the banks continued to implement their policy of negative interest on deposits. 
Therefore, no interest was available fo r distribution to Members.  
 Negative equity continued in 2022. The amount of the accumulated surplus represents IPSAS 
adjustments dating back to the restatement of the financial statements as of 31.12.2012 and the 
subsequent impact of each year's IPSAS fina ncial results.  
 Note 4 Cash and Cash Equivalents  
Table 23 Cash Situation  
in thousands  of CHF 31/12/2022  31/12/2021  
Cash in Hand  5  5  
Deposits with Banks                                   96,123                                           105,043  
Term Deposits - Money Market  26,535  11,438  
Deposit with Bank - Working Capital 
Fund  70,258  70,458  
Total   192,921   186,944  
 The bank balance includes CHF 70.3 million restricted funds in the Working Capital Fund . 
Within the CHF 96.1 Million deposited in Banks, an amount of  CHF 10.3 million represents the 
allocation along the years of savings booked under the Special Reserve Account  for ASHI Ass ets 
reflected in the Reserves . 
 Note 5 Receivables from Members and Observers  
 Receivables from Members and Observers represent receivable assessed contributions. The 
details for contributions due from Members and Observers are presented in Schedules  A and B, 
respectively.  
 WT/BFA/W/632/Rev.1  
 
- 37 - 
 
  Table 24 Receivables from Members and Observers  
in thousands  of CHF 31/12/2022  31/12/2021  
Receivable Assessed Contributions Members  16,769  38,396  
Provision for Outstanding Contributions  -13,844  -12,135  
Total  2,925  26,261  
Receivable Assessed Contributions Observers  986 912 
Grand Total  3,911  27,173  
 
Table 25 Provision for Outstanding Contributions Breakdown  
in thousands  of CHF Provision for 
Outstanding 
Contributions as at 
31 December  2021  Adjustment 
of the 
Provision 
during 2022  Provision for 
Outstanding 
Contributions as 
at 31  December  
2022  
Members  -11,391  1,599  -12,990  
Observers  -744 110 -854 
Total  -12,135  1,709  -13,844  
 
 The outstanding contributions due from 44 Members amounted to CHF 16.8 million at the end 
of 2022. 17 Members were subject to Administrative Measures for a total amount outstanding of 
CHF 10.7 million, representing 64% of the total amount outstanding.  
 The provision for contributions in arrears is calculated at 50% of the outstanding balance for 
balances older than one year, 75% for balances older than two years and 100% for balances older 
than three years. No provision is calculated for balances less th an 1 year.  
 In the 2022 the provisions for Members were approximating CHF  12.9 million and for 
Observers CHF 0.85 million.  
 Note 6 Inventories  
 Inventories consist of WTO publications, co -publications, other non -WTO publications and 
souvenirs held for sale.  
Table 26 Inventories per Type 
in thousands  of CHF 31/12/2022  31/12/2021  
WTO Publications and Co -publications  262 242 
Non-WTO Publications  2 27 
Souvenirs  73 82 
Total  337 351 
Table 27 Write -offs and Adjustments  
in thousands  of CHF 31/12/2022  31/12/2021  
Adjustments  22 -5 
Write -offs -31 -13 
Total  -9 -18 
 
 The adjustment corresponds to the reconciliation between the value of the inventory in the 
financial accounts and the value of the actual physical inventory.  Write -offs relate to obsolete 
inventories. Obsolete publications are identified by making a title-by-title analysis based on statistics 
of the last three years' sales and distribution.  
 Note  7 Advances, Prepayments and Other Receivables  
Table 28 Advances and Prepayments  
in thousands  of CHF 31/12/2022  31/12/2021  
Staff Advances for Education Grant  2,680  2,695  
Staff Advances for Travel  393  358  
Advances Relating to Trust Funds Activities  129  51  
Other Advances  646 889  
Total  3,848  3,993  
 WT/BFA/W/632/Rev.1  
 
- 38 - 
 
  
 The staff advances for education grant and home leave travel remained in line with the 
previous year.  
 Advances relating to Trust Fund Activities have increased compared to 2021 since the 
pandemic ebbed.  
 Other advances correspond to deferred expenditure for CHF 640,000 staff advances for 
CHF 4,000 and payments made to suppliers CHF 2,000.  
Table 29 Other Receivables   
in thousands  of CHF 31/12/202 2 31/12/2021  
Taxes Pertaining to US Taxes Payers  1,666  2,763  
Accrued Interest  - 622 
Due from Government of Argentina for MC11  - 209 
Various Other Receivables  364 170 
Total  2,030  3,764   
 
 Taxes Pertaining to US Taxpayers relates to advances on tax payments for US  citizens paid 
by the WTO.  
 Following the External Auditors' recommendation in 2021, the receivable related to MC11 from 
the Government of Argentina has been written off.  
 Guarantee d eposit for the use of Swissbankers Platform to use pre -paid uploadable cards 
amounts to CHF 100,000.  
 Receivables from non -exchange17 transactions relating to taxes and receivables from 
exchange transactions are listed as "other receivables ". 
 Note 8 Property, Plant and Equipment  
 As at 31 December 2022, the total carrying value of recognised property, plant, and 
equipment was CHF 109 million (CHF 114 million as at 31 December 2021).  
 The total depreciation for 2022 was CHF 5.1 million: C HF 3 million for property and 
CHF 2.1 million for equipment.  
 The total carrying value of property at year end was CHF 106 million (CHF 109 million as at 
31 December 2021).  
Table 30 Building  
in thousands  of CHF 31/12/2022  31/12/2021  
Historical Cost  134,543  134,543  
Additions  -  -  
Balance as at 31/12/2022  134,543  134,543  
Accumulated Depreciation as at 01/01/2022  -25,191  -22,193  
Depreciation 2022  -2,999  -2,999  
Accumulated Depreciation as at 31/12/2022  -28,190  -25,191  
Net Carrying Value as at 31/12/2022  106,353  109,352  
 
 The registration of the infrastructure contract signed between the WTO and the Swiss 
Authorities regarding the Centre William Rappard building, dated 7 August 2015, defines the 
beginning of the process of depreciation, which will span 99 years.  
 The agreeme nt restricts the resale of the Centre William Rappard Building. A provision for the 
right of use of the building amounting to CHF 55.6 million as at 31 December 2022 is reported as 
part of the equity of the WTO and has been revised upwards using the same r ate as that used for 
depreciation of the building. This resulted in a net -off effect.  
 
17 As per IPSAS 23.  WT/BFA/W/632/Rev.1  
 
- 39 - 
 
  
 The Centre William Rappard and the new administrative building belong to the WTO.  
 The WTO has benefited from contributions in -kind relating to the use of different buildi ngs: 
a. Free right to use the Salle William Rappard. This conference centre is owned by the 
Canton of Geneva and maintained by the "Fondation des Immeubles pour les 
Organizations Internationales " (FIPOI).  
b. Free right to use the Villa Rappard and two small neig hbouring villas. These villas are 
the property of the Canton of Geneva. The WTO bears the maintenance costs.  
c. Free right to use an underground parking lot with 400  parking spaces, located in the 
neighbourhood of the WTO premises.  
Table 31 Equipment  
in thousands  
of CHF Furniture  Audio visual  Security  Reproduction  IT Vehicle  Total  
Historical Cost  
as at 
01/01/2022  9,343  8,802  4,451  1,923  3,684  276  28,479  
Additions  - 29  25 -  105 51 210  
Disposals  -62 -32 -99 -325 -102 -37 -657 
Balance as at 
31/12/2 2 9,281  8,799  4,377  1,598  3,687  290  28,032  
Accumulated 
Depreciation as 
at 01/01/2 2 -8,139   -6,717  -3,387  -1,664  -3,511  -245  -23,663  
Depreciation  
2022 -900  -849  -233  -86  -87  -13  -2,169  
Disposals  57 25 99 325 102 37 645 
Accumulated 
Depreciation 
as at 
31/12/2 2 -8,983  -7,541   -3,521  -1,425  -3,496  -221  -25,187  
Net Carrying 
Value as at 
31/12/2 2 298  1,259  856 173 190 69 2,845  
 
 Equipment consists of office furniture and equipment, computing hardware, audio visual and 
telecommunications equipment, security equipment, reproduction equipment, and motor vehicles. 
The total carrying value of equipment was CHF 2.85 million.  
 Disposals of obsolete equipment at cost in 2022 amounted to CHF 657,000. Of  this amount 
only CHF 12,000 pertaining to furniture and audio visual, has not been fully depreciated.  
 Note 9 Intangible Assets  
Table 32 Intangible Assets  
in thousands  of CHF Purchased Software  Internally Developed 
Software  Total Intangible  
Assets  
Historical cost  as at 01/01/202 2 2,510   466  2,976 
Additions  95  -  95  
Disposals  -  -  -  
Balance as at 31/12/202 2 2,605  466  3,070  
Accumulated Depreciation  as at 
01/01/202 2 -1,191   -466  -1,657  
Depreciation  -384  -  -384  
Disposals  -  -  -  
Impairment Losses  -  -  -  
Accumulated Depreciation as at 
31/12/202 2 -1,575  -466  -2,041   
Net Carrying Value as at 
31/12/202 2 1,029  -  1,029  
 WT/BFA/W/632/Rev.1  
 
- 40 - 
 
  
 The total carrying value of intangible assets amounts to CHF 1 million. Additions in 2022 
amounted to CHF 95,000. The most significant addition was for CHF 73,000 relating to purchase of 
a WTO Publications Management System.  
 The software acquired and under depreciation relates to various inform ation systems, 
including software applications used by the organization in its daily activities.  
 Internally developed software consists of integrated databases and systems developed in -
house. These assets are all fully depreciated.  
 Note 10 Accounts Payable and Accruals  
Table 33 Payables and Accruals  
in thousands  of CHF 31/12/2022  31/12/2021  
Suppliers  2,651  3,956  
WTO Staff, Consultants and Interns  339  369  
Other payables  76  31  
Payable due to Members from Accumulated 
Surplus  -    9,800  
Total Payables  3,066  14,155  
Accruals  839  249  
Total  3,904  14,404  
 
 The total accounts payable include payables to suppliers, WTO staff members, consultants 
and interns, and other payables. The payables to suppliers arise from the purchase of goods and 
services that have been delivered but not yet paid for at the end of 20 22. 
 Note 11 Provisions  
Table 34 Provisions  
 
in thousands  of CHF 
Balance as at December 31, 2021  11,682  
Movements in 2022    
  Additional provisions made  2,720  
  Amounts used or reversed  332  
Balance as at December 31, 2022  14,069  
 
  Provisions include amounts for invalidity cases  amounting to CHF 11.3 million  and legal 
damages  for the remaining amount.  
 Note 12 Assessed Contributions Paid in Advance  
Table 35 Assessed Contributions Paid in Advance  
in thousands  of CHF 31/12/2022  31/12/2021  
Contributions Paid in Advance by Members and Observers  10,225  26,173  
Contributions Paid in Advance by Observers  5 52  
Total  10,230  26,225 
 
 Details per Member  & Observer  are in Schedule B.  WT/BFA/W/632/Rev.1  
 
- 41 - 
 
  
 Note 13 Refundable Voluntary Contributions  
Table 36 Refundable Voluntary Contributions  
in thousands  of CHF 2022  2021  
Balance due to Contributors  41,247  35,745  
Contributions Paid in Advance for following year's Activities  -229 -779 
Balance Due to Contributors  as of 1 January  41,019  34,966  
Voluntary Contributions Received  19,059  19,868  
Reimbursement  -188 -132 
Expenses Incurred on Trust Funds (Note 20)  -17,241  -13,684  
Balance Due to Contributors  as of 31 December  (schedule D)  42,649  41,019  
Voluntary Contributions Receivable  -30 -  
Contributions Paid in Advance for following year's Activities  1,392  229  
Balance Due to Contributors  (including advances & receivables)  44,011  41,247  
 
 In accordance with IPSAS 23, voluntary contributions subject to specific conditions have been 
classified under deferred revenue. Revenue is recognised up to the amount expensed in the period, 
corresponding to the completion of the specified activities. In accordance with IPSAS, expenses are 
no longer recognised based on commitments but rather on ac cruals. Refundable voluntary 
contributions include commitments made to third parties regarding Trust Fund activities.  
 The breakdown of the balance due, excluding the advances for 2023 activities, is reported in 
detail by country and by fund in Schedule D.  
 Note 14 Employee Benefits  
Table 37 Provision for Employee Benefits  
in thousands  of CHF 31/12/2022  31/12/2021  
Short -term Benefits  Untaken Annual Leave and Overtime  10,768  11,591  
  Home Leave  594  935  
  Education Grant  1,340  1,329  
  Provision for Bonus  1,431  741  
  Separation Grant  147  268  
  Dependency Allowance  50  50  
Subtotal    14,330  14,913  
Long-term Benefits  Removal Indemnity  1,684  1,747  
  Separation Grant  7,668  9,715  
Subtotal    9,352  11,462  
Post-employment 
Benefits  ASHI  240,119  293,654  
  Pension   1,405,035  1,437,747  
Subtotal    1,663,857  1,754,324  
Total    1,678,187  1,769,237  
 The short -term employee benefits include the following:  
a. Untaken Annual Leave and Overtime – The maximum allowable accumulated annual 
leave is 60 days, which corresponds to a two -year entitlement of 30 days per year that 
the employees can carry forward.  
b. Untaken Home Leave – Eligible staff members are entitled to  go on home leave every 
two years. The provision for home leave is established to cover the amount due to 
eligible staff members, each year, for their home leave. The decrease in untaken home 
leave, compared to the previous year, is due to the lifting of t ravel restrictions.  
c. Education Grant – The provision for education grant is associated with the first four out 
of ten months of the school year, corresponding to the closing period for 2022 (i.e. from 
September to December).  
d. Provision for Bonus – Based on t he 2021 and 2022 performance review, some staff 
members will be eligible for bonus to be distributed in  2023.   WT/BFA/W/632/Rev.1  
 
- 42 - 
 
  e. The provision for dependency allowances is determined in order to provide sufficient 
financial coverage for unexpected dependency cost adjustment s between the end of one 
financial year and the beginning of the following one.  
 Long-term employee benefits include the following:  
a. Removal Indemnity and Separation Grants - The Organization has a contractual 
obligation to provide benefits such as repatriation grants, travel and removal for eligible 
staff members at the time of their separation from service. The estimated amount of 
the provision for these benefits is calculated by the WTO based on average costs  for the 
previous six years . 
b. Post-employment Benefits: Staff members retiring from the WTO are eligible for ASHI 
coverage. Both pension and ASHI related benefits are calculated by  an independent 
actuary . The actuarial assumptions applied in determining the liabilities are detailed 
below:  
Table 38 Actuarial Assumptions to Define Benefit Obligations  and Costs (Pension - ASHI)  
Actuarial Assumptions  31/12/202 2 31/12/202 1 
Defined Benefit Obligation      
Discount Rate18 2.30% 1.87% 
Defined Benefit Cost      
Discount Rate  0.30% 1.68% 
Other Assumptions    
Rate of Compensation Increase  1.2% until 2029 , 1.7% 
thereafter plus merit increases  1.0% for 3 years, 1.5% 
thereafter plus merit increases  
Rate of Inflation Increase  1.2% 1.0%  
Medical Inflation Rate  3.4% 3.1%  
Table 39 Financial Asset – Pension Asset  
in thousands  of CHF 31/12/2022  31/12/2021  
Fair Value of Plan Assets as at 1 January  739,122  664,496  
Interest Income  2,211  11,137  
Return on Plan Assets Excluding Amounts Included in Interest Income  -96,022  66,676  
Employer Contributions  19,770  19,487  
Plan Participants' Contributions  11,007  9,778  
Benefits Paid from Plan  -33,746  -30,515  
Expenses Paid  -1,028  -1,228  
Premium Paid  - -708 
Fair Value of Plan Assets as of 31 December  641,315  739,122  
Table 40 Defined Benefit Obligation s – Pension Benefit  
in thousands  of CHF 31/12/2022  31/12/2021  
Benefit Obligation as of 31 December  1,437,748  -    
Adjustment for Spot Discount rate  545,237  -  
Benefit Obligation restated19 as of 1  January  1,982,984  1,379,163  
Service Cost  69,382  42,714  
Interest Cost 5,914  22,868  
Plan Participants' Contributions  11,007  9,778  
Actuarial (Gain)/Loss  -630,505  15,677  
Benefits Paid  -33,746  -30,515  
Premium Paid    -708 
Expenses Paid    -1,228  
Benefit Obligation as of 31 December  1,405,035  1,437,748  
Table 41 History of Pension Defined Benefit Obligations  
in thousands  of CHF 31/12/2022  31/12/2021  
Defined benefit obligation  -1,405,035  -1,437,748  
Fair value of plan assets  641,315  739,122  
Surplus / Deficit  -763,720  -698,626  
 
18 The discount rate in 2022 was  modified in compliance with the Audit Recommendation.  
19 Benefit obligation has been restated following the change of discount rate approach recommended by 
the External Auditor.  WT/BFA/W/632/Rev.1  
 
- 43 - 
 
  Table 42 Defined Benefit Obligation s – ASHI  
in thousands  of CHF 31/12/2022  31/12/2021  
Benefit Obligation as of 31 December  293,655  293,655     
Adjustment for Spot Discount rate  122,388  -    
Benefit Obligations as of 1 January  416,043  295,511  
Service Cost  19,063  14,404  
Interest Cost  1,300  5,178  
Plan Participants' Contributions  -  -  
Actuarial (Gain)/Loss  -193,072  -18,263  
Benefits Paid  -3,215  -3,174  
Benefit Obligations as of 31 December  240,119  293,655  
 
 Approximately  CHF 240 Million  in ASHI Benefit Obligations are partly covered by CHF 10  Million  
allocated to ASHI Assets in the Special Reserve Account (SRA)  as shown in Table 4 8. 
 Under IPSAS 39 the discount rate must be determine d by reference to market yields at the 
end of the reporting period on government bonds, high quality corporate bonds, or by another 
financial instrument, based on the judgement of the reporting entity.  
 Following the External Audit Recommendation, the  Secre tariat has modified the discount rate 
used to estimat e the long -term liabilities and aligned with the IPSAS 39 guiding standards. The 
discount rate is determined by reference to market yields at the end of the reporting period on high 
quality corporate bon ds. The Actuarial Service provider set the discount rate at 2.30% based on the 
corporate yield curve as of December 31, 2022.  
 The fair value of the defined benefit assets for pension and present values of defined benefit 
obligations for pension and ASHI li abilities, are determined using the projected unit credit method 
including discounting the estimated future cash outflows.  
Table 43 Sensitivity Analysis  
in thousands  of CHF 31/12/2022  31/12/2021  
Discount Rate minus 50 basis points  1.80%  -0.20%  
Effect if decrease of - 50 points in discount rate ('000 CHF)  137,932  236,157  
Effect if decrease of - 50 points in discount rate (%)  9.82%  11.91%  
Benefit Obligations as of 31 December  1,542,967  2,219,141  
Discount rate + 50 basis points  2.80%  0.80%  
Effect if increase of + 50 points in discount rate ('000 CHF)  -120,207  -202,074  
Effect if increase of + 50 points in discount rate (%)  -8.56%  -10.19%  
Benefit Obligations as of 31 December  1,284,828  1,780,910  
 
 Sensitivity analysis is based on a differential of 0.5% applied to the current discount rate and 
shows the variability and impact of any changes in the rates.  
 In accordance with IPSAS , the WTO's ASHI liability is reflected as unfunded as no ASHI assets 
exist.  
 The valuation of the post -employment benefit obligations reflects the term of the expected 
payments under the pension and ASHI liabilit ies. The volatility in the actuarial valuations ha s 
significant impact on the financial results. Actuarial gains or losses may result from increases or 
decreases in either the present value of a defined benefit obligation or the fair value of any related 
assets. In addition to the discount rate variations  other causes of actuarial gains and losses include:  
a. unexpectedly high or low rates of employee turnover, early retirement or mortality, 
increases in salaries, and changes in benefits or medical costs.  
b. the effect of changes in the estimates of future emplo yee turnover, early retirement, or 
mortality, and of increases in salaries, benefits, or medical costs; and  
c. differences between the actual return and the expected return on pension assets.  WT/BFA/W/632/Rev.1  
 
- 44 - 
 
  Table 44 Total Pension Actuarial Gains or Losses During the Year 
in thousands  of CHF 31/12/2022  31/12/2021  
Pension      
Actuarial (Loss)/Gain on Pension Assets Net of Actual Investment Expense  -96,021  -15,677  
Actuarial (Loss)/Gain on Pension Benefits  630,505  66,676  
Total  534,484  50,998  
Table 45 Total ASHI Actuarial Gains or Losses During the Year  
in thousands  of CHF 31/12/2022  31/12/2021  
ASHI      
Actuarial (Loss)/Gain on ASHI Benefits  193,072  18,264  
Total  193,072  18,264  
 
 Note 15 Loan  
 The Organization has received a CHF 60  million loan from the Swiss Authorities for the building 
project (CHF 20  million for the south and north courtyards transformations and CHF 40  million for 
the new administrative building ). This loan is interest -free, and the WTO began in 2013 the 
reimbursement of the principal only. The duration of the loan is 50 years, until 2062.  
 The WTO holds an interest -free loan relating to the financing of the building project. The 
interest -free component is considered as an in -kind contribution from the Swiss Authorities. The 
value of the in -kind contribution corresponds to the interests that would have been paid in case of 
a commercial loan. As the value of the interest waiver is e qual to the future value of the loan 
discount, WTO does neither recognise an expense nor revenue for the same amount.  
Table 46 Loan Evolution  
in thousands  of CHF Balance as at 
31/12/2022  Loan Payments  Balance as at 
31/12/2021  
Extra -Muros Building  32,000,000  800,000  32,800,000  
Centre William Rappard  16,000,000  400,000  16,400,000  
Total  48,000,000  1,200,000  49,200,000  
 
 Note 16 Working Capital Fund  
 Governments acceding to the WTO shall make an advance to the Working Capital Fund (WCF) 
in accordance with the scale of contributions applicable to the budget for the year of their accession. 
The minimum advance to the Working Capital Fund amounts to 0.5% of the principal of the Fund 
for countries or separate customs territories whose share of the total trade of Members is 0.5% or 
less. The interest earned or charged, in case of negative interest, on the advances made by Members 
accrues to the Organization.  
Table 47 Working Capital Fund Statement  
in thousands  of CHF 31/12/2022  31/12/2021  
ASSETS      
Cash and cash equivalents  70,258  68,486  
Addition from previous year's Budgetary Result  - 1,972  
Total Assets  70,258  70,458  
LIABILITIES AND WORKING CAPITAL FUND      
Advances made by Members  4,724  4,724  
Accumulated Budget Surplus  Transferred  to the 
Working Capital Fund  60,327  60,327  
TOTAL WCF Advances from Members + 
Accumulated Budget ary Surplus  65,052  65,052  
Cumulated Interest Earned prior 2015  5,206  6,148  
Liabilities and Working Capital Fund  70,258  71,199  
Cumulated Negative Interest  -  -742 
Balance as at 31 December  70,258  70,458  
 WT/BFA/W/632/Rev.1  
 
- 45 - 
 
  
 Note 17 Reserves  
Table 48 Reserves  
in thousands   
of CHF Ministerial 
Operating 
Fund  Doha Development 
Global Trust Fund  Building 
renovation 
funds  Special Reserve 
Account Medical 
Insurance  Total 
Reserves  
Balance as at 
01/01/2022  1,028  1,000  24,500  8,117  34,646  
Allocation to 
Reserves  600  -  600  2,245  3,445  
Utilisation of 
Reserves  -1,093  - -  -  -1,093  
Balance at 
31/12/2022  535  1,000  25,100  10,362  36,997  
 
 In 20 22, the 12th Ministerial Conference  took place in Geneva. The Ministerial Operating Fund 
financed the event and over CHF 1 million was disbursed . The remaining balance carried forward 
and to be used for MC13 is CHF 535 ,000. 
 For compliance with IPSAS 19, budget provisions to the Building Reno vation Fund and to the 
Special Reserve Account for Medical Insurance were offset  within equity . 
 Note 18 Revenue  
 Revenue from non -exchange transactions includes revenue from assessed contributions from 
Members and Observers and voluntary contributions.  
a. Assessed Contributions amount to CHF 195.5 million and are presented in the Budget  
Performance Section of the Financial Performance Report and in detail in Schedule A of 
the Financial Statements.  In 2022, following the CBFA recomme ndation20, the 
Secretariat transferred CHF 9.8 million from the Accumulated Budgetary Surplus to 
partially offset the 2022 contributions due from Members. Therefore, the 2022 call for 
contributions of CHF 185.7 million combined with the CHF 9.8 million tra nsferred from 
the Accumulated Budgetary Surplus ensured the Regular Budget of CHF 195.5 million. 
This measure was undertaken given the exceptional negative economic situation 
generated by the pandemic in 2021 among Members.  
b. Contributions from Observers amo unt to CHF 6 15,825  and are detailed in Schedule A 
of the Financial Statements.  
 Voluntary Contributions from Trust Funds are presented in the Extra -Budgetary Performance 
Section of the Financial Performance Report and are summarized in the table below and i n 
Schedule  D. 
Table 49 Voluntary Contributions (Trust Funds ) 
in thousands  of CHF 31/12/2022  31/12/2021  
Contributions from Contributors  19,059  19,868  
Reimbursement of Contributions  -188 -132 
Voluntary Contributions net of Reimbursement (Schedule D)  18,872  19,736  
(Increase)/Decrease Amount due to Contributors  for the Year  -1,630  -6,053  
Total  17,241  13,684  
 
 Revenue from publications includes sales through the WTO bookshop, WTO distributor and 
Royalties. The breakdown is depicted in the table below.   
 
20 WT/BFA/200.  WT/BFA/W/632/Rev.1  
 
- 46 - 
 
  Table 50 Revenue from Publications  
in thousands  of CHF 31/12/202 2 31/12/2021  
Publications - Stocked Production  120  227  
Sales of WTO Publications  91  58  
Sales of non -WTO Publications  41  22  
Sales of Souvenirs  34  9  
Other Sales  46  38  
Total  332  354  
 
 Other revenue is summarized in the table below.  
 The amount of Refund of Prior Years ' Outstanding Obligation s is mainly composed of 
CHF 741,000, representing interest returned by the Working Capital Fund , release of provisions for 
CHF 2 8,000 and reimbursements from insurance of CHF 47,000. 
 The Miscellaneous Revenue co nsists of interest on investments of CHF 240,000, profit on the 
sale of fixed assets of CHF 11,500, release of provision for legal damages of CHF 304,500 and rental 
of building facilities to EIF of CHF 165,000. The remainder consists of reimbursement from insurance 
for salaries paid to Staff on long term sick leave.  
Table 51 Other Revenue  
in thousands  of CHF 31/12/2022  31/12/2021  
Refund of Prior Year's Outstanding Obligations  819  984  
Rental of Meeting Rooms and Office Spaces  2  5  
Miscellaneous  825  618  
Total  1,646  1,606  
 
 Note 19 Expenses  
 The main categories of expenses are summarized in the two tables below:  
Table 52 Staff Expenditure  – Permanent  
in thousands  of CHF 2022  2021  
Staff / Salary  87,031  90,768  
Variation Provision for Medical Insurance  -    -    
Staff / Annual Leave  566 683  
Variation Provision for Annual Leave  -823 123  
Staff / Overtime  244 192  
Staff / Representation Allowance  176 147  
Staff / Pension  18,470  18,435  
Staff / Retiree Health Insurance  3,344  4,025  
Staff / Health Insurance  5,748  6,932  
Death and Invalidity Insurance  930 488  
Staff/ Allowances for Dependents  5,148  5,177  
Staff / Education Grant  3,993  4,143  
Variation Provision for Education Grant  12 -61  
Staff / Home Leave  1,350  1,102  
Variation Provision for Home Leave  -341 -654  
Staff / Rental Subsidy  411 397  
Staff / Travel and Removal  635 700  
Variation Provision for Travel & Removal  -63 439  
Staff / Installation Grant & Medical Examinations  289 403  
Staff / Separation Grant  1,027  930  
Variation for Separation Indemnity  -2,047  1,733  
Staff / Negotiated Termination Indemnity  220 432  
Staff / Tax  357 230  
Sub Total  126,675  136,765  
Staff / Pension Actuarial Cost  41,549 33,130  
Staff / Retiree Health Insurance Actuarial Cost  17,148  16,408  
Staff / Pension Net Return  12,793 1,827  
Grand Total  198,16 5  188,131  
  WT/BFA/W/632/Rev.1  
 
- 47 - 
 
  Table 53 Staff Expenditure – Temporary  
in thousands  of CHF 2022  2021  
Short -Term Staff / Salary  9,013  7,545  
Short -Term Staff / Pension  1,348  1,092  
Short -Term Staff / Health Insurance  595 483 
Short -Term Staff / Annual Leave  442 526 
Short -Term Staff / Overtime  45 52 
Language and Translation Costs  9,272  9,696  
Consulting Costs  4,532  5,291  
Panellists' Fees  749 517 
Interns  2,802  2,804  
Consolidation with Trust Funds  -29 -27 
Total  28,769  27,980  
 
  Other categories of expenditures reported in the Statement of Financial Performance are 
the following:  
a. Supplies and other general services expenditures such as the cost of utilities, 
maintenance costs, and publication costs. Write -offs for obsolete publications are also 
part of this category.  
b. Travel & Ho spitality expenditure represents the costs related to travel on official 
mission; accommodation; tickets for staff members, panellists and participants at trade -
related technical activities; and daily subsistence allowances. Hospitality expenses are 
relate d to costs incurred by Senior Management for the provision of food and 
refreshments during official meetings or official meals.  
c. Implementing partners' expenditures represent costs for activities funded by the WTO 
that are executed by third -party organizati ons. 
d. Contribution to ITC represents the WTO's contribution to the budget of the ITC for its 
core activities.  
e. The depreciation of assets includes the amortisation of the liability related to the Centre 
William Rappard following the concession of a right of use of the Centre William Rappard 
premises by the Canton de Genève.  
 Finance and foreign exchange costs refer mainly to interest paid to banks and expenses due 
to exchange rate transactions among different currencies.  
 Note 20 Reconcil iation of Budget ary Performance  and Financial Results  
 The WTO Financial Statements comprise of the Regular Budget of the WTO Secretariat and 
the activities financed by WTO Trust Funds. The WTO Budget is prepared on a modified cash basis 
(no capitalisation of assets and no recognition of long -term employee benefits) whereas the Financial 
Statements are issued on an accrual basis (IPSAS).  
 A statement of comparison of the original 202 2 budget and actual expenditure amounts is 
presented below and reflects the s ame information disclosed in the first part of this report where 
material differences are also explained.   WT/BFA/W/632/Rev.1  
 
- 48 - 
 
  Table 54 Statement of Comparison of Budget and Actual Amounts – 2022 
Statement of Comparison of Budget and Actual Amounts for  the Year Ended 31 December 2022  
in thousands  of CHF Budget  Actual Amounts on 
Comparable Basis  Difference Budget 
and Actual  
RECEIPTS        
Contributions from WTO Members  195,500  195,500  - 
Contributions of Observer Countries  600 616 16 
Sale of Publications & Royalties  250 212 -38 
Trust Funds – Participation in Indirect Costs  190 147 -43 
Refund of Prior Year's Expenditure  200 819 619 
Rental of Meeting Rooms & Office Space  125 2 -123 
Profit/(Loss) on Exchange  - -121 -121 
Interest on Investments  - 241 241 
Other  339 584 246 
Total receipts  197,204  198,000  796 
        
PAYMENTS        
Staff Expenditure  131,565  124,959  6,606  
Temporary Assistance  17,275  25,033  -7,759  
General Services  15,626  16,676  -1,050  
Travel & Hospitality  7,907  4,883  3,023  
Implementing Partners  213 1170 -957 
Capital Expenditure  3,095  2,412  682 
Financial Expenditure  2080 1646 434 
Contributions to ITC & Special Reserves  19,443  19,443  - 
Total payments  197,204  196,224  980 
        
Net RECEIPTS / (PAYMENTS)  - 1,776  1,776  
Adjustments        
Contribution in arrears provision      -1,709  
Net Budgetary Result      67 
 
 The following table reconciles the budgetary result with the financial result as per IPSAS.  
The 2022 budgetary result amounts to CHF 67,000. The financial result shows a deficit of 
CHF 69 million, which is driven by IPSAS adjustments to record the actuarial costs related to Pension 
and ASHI liabilities.  
Table 55 Reconcili ation of the Budgetary Result and Financial Result  
in thousands  of CHF   
Difference between the Budget  and Actual Expenditure  
for the Year Ended 31 December 2022  980 
Miscellaneous Income  796  
Year-on-Year Variation in the Provision for Contribution in Arrears  -1,709  
Budgetary Result  for the Year Ended 31 December 2022  67  
    
Loan Repayment (Amortized)  1,200  
Production Stocked  120  
Allocation to the Building Renovation Fund  600  
Acquisition of Property, Plant and Equipment  293  
Depreciation and Amortisation of Property, Plant and Equipment  -5,552  
Depreciation of Provision for Right of Use - CWR 606  
Staff Provisions (annual leave, home leave, education grants separation)  5,181  
Pension Benefits Actuarial Net Value  -54,342  
After Service Health Insurance (ASHI) Benefits Actuarial Valuation  -17,148  
Total IPSAS Adjustments  -69,043  
Financial Result as at 31 December 2022  -68,976  
 
 A reconciliation between the budgetary result  expressed in actual amounts on a comparable 
basis as presented in Table 54, and the actual amounts as presented in the Statement of Cash Flows 
for the Year Ended December 31, 2022 , is presented below. The recon ciliation shows a basis 
difference because the budget is prepared on a modified cash basis and the financial statements on 
an accrual basis . There are no  timing differences as the financial statements and budget documents 
are prepared for the same period. There is an entity difference because the budget is prepared for 
the regular budget and the financial statements consolidate the extra -budgetary performance.  WT/BFA/W/632/Rev.1  
 
- 49 - 
 
  Table 56 Reconciliation of the Budget ary Result and Financial Cash Flow Result  
in thousands  of CHF Operating  Financing  Investing  Total  
Budgetary Result  67 -    -    67 
Basis Differences  5,773  -1,200  -293 4,280  
Entity Differences  1,630   -  - 1,630  
Actual Amount in the Statement of Cash Flows  7,470  -1,200  -293 5,977  
 
 Note 21 Related Party Transactions  
Table 57 Key Management Personnel  
  Number of 
Staff 
Members  Net Salaries and 
Representation 
Allowances (CHF)  Other 
Entitlements 
(CHF)  Pension and 
Health 
Plans (CHF)  Total 
31/12/2022 
(CHF)  
Key Management 
Personnel (WTO)  6 1,768,150  133,469  372,330  2,273,9 49 
Key Management 
Personnel (WTOPP)  8 1,352,526  213,506  365,012  1,931,0 44 
 WTO is governed by the WTO General Council, which is composed of representatives of 
Members. The WTO is managed by the Director -General , four Deputy Directors -General and the 
Chief of Staff (key management personnel) . The aggregate remuneration paid to key management 
personnel includes salaries, allowances, and other entitlements paid in accordance with the Staff 
Regulations and Rules.  
 The WTOPP has on its board eight WTO staff members . As per IPSAS 20, the  aggregate 
remuneration is also disclose d in the table above.  
 WTO has no controlled entities and no interests in other entities which would require 
disclosure under IPSAS 34 -38. 
 Note 22 Contingent Assets and Contingent Liabilities  
 The guaranties held with Credit Suisse for the CWR building renovations have expired on 
30 June 2022 . 
 As of 31 December 2022, the WTO has three claims raised by internal staff concerning staff 
entitlements attribution and one external claim related to a dispute with an external provider.  
 Note 23 Segment Reporting  
 Segment information is based on: i) the Regular Budget of the WTO ; and ii) Trust Funds. 
Segment reporting is only presented for the Statement of Financial Performance.  
 The only transfer across segments rela tes to the mandatory reallocation of 10% of annual 
expenditure against the Programme Support Fund to the WTO Regular Budget. The amount 
transferred in 2022 was CHF  147,000.  
 In table 57, the column WTO Budget reports the data of the expenditure occurred und er the 
regular budget including the IPSAS adjustments such depreciation, provisions for staff expenditures, 
and actuarial costs for ASHI and Pension. The column Trust Funds instead reports the expenses and 
the corresponding revenue for Trust Funds. The col umn Total WTO reports the overall value as stated 
in the Statement of Financial Performance in Table 18.  
 
 WT/BFA/W/632/Rev.1  
 
- 50 - 
 
  Table 58 Financial Performance by Segments  
 2022  
in thousands  of CHF WTO 
Budget  Trust 
Funds  Inter -Fund 
Transactions  TOTAL 
WTO  
INCOME           
Contributions assessed on Members  195,500  - - 195,500   
Contributions assessed on Observers  616 - - 616  
Voluntary Contributions (Trust Funds)  - 17,241  - 17,241   
Revenue from publications  332 -   332  
Other revenue  1,793  - -147 1,646   
Total Income  198,241  17,241  -147 215,335   
           
EXPENSES           
Staff 119,843  6,831  - 126,675   
Actuarial cost for ASHI  17,148  - - 17,148   
Actuarial cost for Pension  41,549  - - 41,549   
Actuarial WTOPP net return  12,793  - - 12,793   
Temporary Assistance  25,340  3,458  -29 28,769   
Supplies and Other General Services 
Costs  19,435  416 -117 19,733   
Travel & Hospitality  4,967  1,580  - 6,547   
Implementing Partners  1,170  4,897  - 6,067   
Contribution to ITC  18,243  - - 18,243   
Ministerial Conference Operating Fund  -493 - - -493  
Depreciation  5,552  - - 5,552   
Provision for contributions in Arrears  1,709  - - 1,709   
Depreciation of provision for right of use 
- CWR -606 - - -606  
Finance Costs  446 61 - 507  
Loss on foreign exchange transactions  121 -3 - 119  
Total Expenses  267,217  17,241  -147 284,312   
           
Financia Surplus/ (Deficit) for the 
period  -68,976  - - -68,976   
 
 Note 24 Events After the Reporting Date 
 No material events that would have impacted on these statements occurred between the 
reporting date and the date when the Financial Statements were authorised for issue.  
 Note 25 ESG and CSR Organization's activity  
 The WTO is an active m ember of the United Nations Environment Management Group (EMG), 
an interagency body that promotes cooperation and harmonization among international 
organizations and develops system -wide responses to a wide variety of priority environmental 
sustainability challenges.  
  Various issues management groups (IMGs) of the EMG advance common metrics and 
approaches to key topics such as climate mitigation, e -waste and plastic pollution, both with respect 
to programmatic and policy advice provided by UN and sister ins titutions to member s, but also with 
regards to their own internal operations.  
 In this context, honouring the "Greening the Blue " Initiative, led by the UNEP Sustainable 
United Nations (SUN) Facility, the WTO Secretariat has taken steps to implement and integrate 
greater environmental sustainability in management of its facilities and operations. Some of the 
highlights are in waste management, water and water waste management, and other environmental 
measures conducted in recent years, including a medium -term plan to eliminate the use of 
disposable plastics.  
 The WTO Secretariat has been reporting the outcomes of these transformationa l efforts to 
the EMG on a yearly basis (November 2022). Notably, electricity is 100% certified renewable; the 
cooling system uses Geneva Lake Water (GLN); and since 2019, the WTO has chosen the supply of 
a more ecological quality of gas (Gaz vitale découve rte). The WTO Secretariat also has a green 
procurement policy.  WT/BFA/W/632/Rev.1  
 
- 51 - 
 
  
 Other measures taken to address environmental issues and reduce WTO's carbon footprint 
include improved systems for recycling (i.e., paper, aluminium, glass, cardboard, polystyrene, 
compost, co ffee capsules, printer cartridges ); promoting soft mobility by providing e -bikes to staff 
for official transport; reducing water and electricity consumption by installing low flow faucets and 
re-use of rainwater ; replacing traditional lights with LEDs, and  turning off exterior lights. The WTO 
also contributes to maintaining biodiversity on its campus by installing beehives.  
  WT/BFA/W/632/Rev.1  
 
- 52 - 
 
  5  SCHEDULES  
 Schedule A 202 2 Statement of Assessed Contributions for Members and Observers  
Table 59 Assessed Contributions for Members in 202 2  
Country  Contributions in CHF 202 2 2022 
Afghanistan  37,140  0.020%  
Albania  40,854  0.022%  
Angola  259,980  0.140%  
Antigua and Barbuda  27,855  0.015%  
Argentina  636,951  0.343%  
Armenia  40,854  0.022%  
Australia  2,399,244  1.292%  
Austria  1,831,002  0.986%  
Bahrain, Kingdom of  215,412  0.116%  
Bangladesh  391,827  0.211%  
Barbados  27,855  0.015%  
Belgium  3,381,597  1.821%  
Belize  27,855  0.015%  
Benin  29,712  0.016%  
Bolivia, Plurinational State of  89,136  0.048%  
Botswana  59,424  0.032%  
Brazil  2,001,846  1.078%  
Brunei Darussalam  48,282  0.026%  
Bulgaria  315,6 90 0.170%  
Burkina Faso  33,426  0.018%  
Burundi  27,855  0.015%  
Cabo Verde  27,855  0.015%  
Cambodia  150,417  0.081%  
Cameroon  61,281  0.033%  
Canada  4,484,655  2.415%  
Central African Republic  27,855  0.015%  
Chad 31,569  0.017%  
Chile 633,237  0.341%  
China  19,561,638  10.534%  
Colombia  464,250  0.250%  
Congo  64,995  0.035%  
Costa Rica  157,845  0.085%  
Côte d'Ivoire  102,135  0.055%  
Croatia  228,411  0.123%  
Cuba 107,706  0.058%  
Cyprus  135,561  0.073%  
Czech Republic  1,370,466  0.738%  
Democratic Republic of the Congo  115,134  0.062%  
Denmark  1,444,7 46 0.778%  
Djibouti  31,569  0.017%  
Dominica  27,855  0.015%  
Dominican Republic  168,987  0.091%  
Ecuador  194,985  0.105%  
Egypt  477,249  0.257%  
El Salvador  77,994  0.042%  
Estonia  165,273  0.089%  
Eswatini  27,855  0.015%  
European Union21 - 0.000%  
Fiji 27,855  0.015%  
Finland  802,224   0.432%  
France  7,090,026  3.818%  
Gabon  48,282  0.026%  
Georgia  72,423  0.039%  
Germany  13,296,120  7.160%  
Ghana  174,558  0.094%  
Greece  601,668  0.324%  
Grenada  27,855  0.015%  
Guatemala  135,561  0.073%  
Guinea  31,569  0.017%  
 
21 The European Union is not subject to contributions. Its Member s are assessed individually. The total 
share of Members of the European Union represents 30% of the total assessed contributions for 2022.  WT/BFA/W/632/Rev.1  
 
- 53 - 
 
  Country  Contributions in CHF 202 2 2022 
Guinea -Bissau  27,855  0.015%  
Guyana  27,855  0.015%  
Haiti 27,855  0.015%  
Honduras  74,280  0.040%  
Hong Kong, China  5,283,165  2.845%  
Hungary  986,067  0.531%  
Iceland  83,565  0.045%  
India 4,345,380  2.340%  
Indonesia  1,561,737  0.841%  
Ireland  3,194,040         1.720%  
Israel  837,507  0.451%  
Italy 4,740,921  2.553%  
Jamaica  50,139  0.027%  
Japan  7,112,310  3.830%  
Jordan  154,131  0.083%  
Kazakhstan  414,111  0.223%  
Kenya  118,848  0.064%  
Korea, Republic of  5,158,746  2.778%  
Kuwait, the State of  510,675  0.275%  
Kyrgyz Republic  33,426  0.018%  
Lao People's Democratic Republic  53,853  0.029%  
Latvia  155,988  0.084%  
Lesotho  27,855  0.015%  
Liberia  27,855  0.015%  
Liechtenstein  61,281  0.033%  
Lithuania  287,835  0.155%  
Luxembourg  958,212  0.516%  
Macao, China  239,553  0.129%  
Madagascar  33,426  0.018%  
Malawi  27,855  0.015%  
Malaysia  1,766,007  0.951%  
Maldives  27,855  0.015%  
Mali 33,426  0.018%  
Malta  146,703  0.079%  
Mauritania  27,855  0.015%  
Mauritius  51,996  0.028%  
Mexico  3,765,996  2.028%  
Moldova, Republic of  35,283  0.019%  
Mongolia  57,567  0.031%  
Montenegro  27,855  0.015%  
Morocco  358,401  0.193%  
Mozambique  59,424  0.032%  
Myanmar  131,847  0.071%  
Namibia  44,568  0.024%  
Nepal  57,567  0.031%  
Netherlands  5,452,152  2.936%  
New Zealand  443,823  0.239%  
Nicaragua  51,996  0.028%  
Niger  27,855  0.015%  
Nigeria  510,675  0.275%  
North Macedonia  59,424  0.032%  
Norway  1,158,768  0.624%  
Oman  306,405  0.165%  
Pakistan  354,687  0.191%  
Panama  224,697  0.121%  
Papua New Guinea  57,567  0.031%  
Paraguay  105,849  0.057%  
Peru 402,969  0.217%  
Philippines  822,651  0.443%  
Poland  2,287,824  1.232%  
Portugal  774,369  0.417%  
Qatar  625,809  0.337%  
Romania  761,370  0.410%  
Russian Federation  3,073,335  1.655%  
Rwanda  27,855  0.015%  
Saint Kitts and Nevis  27,855  0.015%  
Saint Lucia  27,855  0.015%  
Saint Vincent and the Grenadines  27,855  0.015%  
Samoa  27,855  0.015%  WT/BFA/W/632/Rev.1  
 
- 54 - 
 
  Country  Contributions in CHF 202 2 2022 
Saudi Arabia, Kingdom of  1,836,573  0.989%  
Senegal  48,282  0.026%  
Seychelles  27,855  0.015%  
Sierra Leone  27,855  0.015%  
Singapore  4,583,076  2.468%  
Slovak Republic  746,514  0.402%  
Slovenia  315,690  0.170%  
Solomon Islands  27,855  0.015%  
South Africa  835,650  0.450%  
Spain  3,602,580  1.940%  
Sri Lanka  180,129  0.097%  
Suriname  27,855  0.015%  
Sweden  1,907,139  1.027%  
Switzerland  3,496,731  1.883%  
Chinese Taipei  2,902,491  1.563%  
Tajikistan  27,855  0.015%  
Tanzania  79,851  0.043%  
Thailand  2,298,966  1.238%  
The Gambia  27,855  0.015%  
Togo 27,855  0.015%  
Tonga  27,855  0.015%  
Trinidad and Tobago  83,565  0.045%  
Tunisia  168,987  0.091%  
Türkiye  1,903,425  1.025%  
Uganda  53,853  0.029%  
Ukraine  480,963  0.259%  
United Arab Emirates  2,880,207  1.551%  
United Kingdom  7,010,175  3.775%  
United States of America  21,988,737  11.841%  
Uruguay  124,419  0.067%  
Vanuatu  27,855  0.015%  
Venezuela, Bolivarian Republic of  464,250  0.250%  
Viet Nam  1,844,001  0.993%  
Yemen  68,709  0.037%  
Zambia  72,423  0.039%  
Zimbabwe  48,282  0.026%  
TOTAL  185,700,000  100%  
Table 60 Assessed Contributions for Observers in 202 2 
Observers  Contributions in CHF  
Algeria  29,325  
Andorra  29,325  
Azerbaijan  29,325  
Bahamas  29,325  
Belarus  29,325  
Bhutan  29,325  
Bosnia and Herzegovina  29,325  
Comoros  29,325  
Curaçao  29,325  
Equatorial Guinea  29,325  
Ethiopia  29,325  
Holy See  29,325  
Iran 29,325  
Iraq 29,325  
Lebanese Republic  29,325  
Libya  29,325  
Sao Tome and Principe  29,325  
Serbia  29,325  
Somalia  29,325  
South Sudan  29,325  
Sudan  29,325  
Syrian Arab Republic  29,325  
Timor -Leste  29,325  
Turkmenistan  29,325  
Uzbekistan  29,325  
SUB-TOTAL  733,125  
Suspension - Sao Tome and Principe (31/12/2 2) -29,325  
Suspension - Libya (31/12/2 2) -29,325  WT/BFA/W/632/Rev.1  
 
- 55 - 
 
  Observers  Contributions in CHF  
Suspension - Somalia (31/12/2 2) -29,325  
Suspension - Syrian Arab Republic  (31/12/2 2) -29,325  
TOTAL  615,825  
 
 Schedule B Statement of Outstanding Contributions as of 31 December  2022 
Table 61 Outstanding Contributions from  and Advances by  Members as of 
31 December  2022 (in CHF)  
Members Contributions 
(in CHF ) Cat. 22 2020 and 
previous 
years  2021 2022 TOTAL  Advance  
Afghanistan    -    -    37,140   37,140  -    
Albania    -    -    -    -    -    
Angola    -    -    -    -    -    
Antigua and Barbuda   II 29,602   29,325  27,855   86,782   -    
Argentina    -    691,870   636,951   1,328,821   -    
Armenia    -    -    -    -    -    
Australia    -    -    -    -    -  
Austria    -    -    -    -    1,943,270 
Bahrain, Kingdom of    -    -    -    -    -    
Bangladesh    -    -    -    -    -    
Barbados    -    -    -    -    -    
Belgium    -    -    -    -    -    
Belize   -    -  -  -  1,470    
Benin    -    -    -    -    743  
Bolivia, Plurinational State of   I -    99,705    89,136   188,841   -    
Botswana    -    -    -    -    -    
Brazil    -    947,541     2,001,846  2,949,387  -    
Brunei Darussalam    -    -    -    -    -    
Bulgaria    -    -    -    -    -    
Burkina Faso    -    -    -    -    25,089  
Burundi*   III  638,931  29,325   27,855  696,111 -    
Cabo Verde    -    - - - 375    
Cambodia    -    -    -    -    -    
Cameroon    -    -  33,477   33,477   -    
Canada    -    -    -    -    236,670     
Central African Republic *   III  849,001   29,325   27,855   906,181   -    
Chad*   III  581961   39,100   31,569   652,630   -    
Chile   -    -    47,262     47,262     -  
China    -    -    -    -    -    
Colombia    -    -    -    -    67,706    
Congo     -  12,592  64,995   77,587   -    
Costa Rica    -    -    -  -  101,359     
Côte d'Ivoire    -    -    -    -    975    
Croatia    -    -    -    -    12,054    
Cuba  I  93,639   121,210   107,706   322,555   -    
Cyprus    -    -    -    -    -    
Czech Republic    -    -    -    -    -    
Democratic Republic of the 
Congo    -    -    -    -    -    
Denmark    -    -    -    -    -    
Djibouti     - -  - -  -    
Dominica  I  -    29,325    27,855  57,180   -    
Dominican Republic    -    -    2,747     2,747     -  
Ecuador    -    -    -    -    773 
Egypt    -    -    -    -    -    
El Salvador   I  80,050    80,155  77,994  238,199  -    
Estonia    -    -    -    -    -  
Eswatini    -    -    -    -    -    
European Union    -    -    -    -    -    
Fiji   -    -    -    -    -    
Finland    -    -    -    -    -    
France    -    -    -    -    374,164    
Gabon   - - - - -    
 
22 As per the Annex B of the Financial Regulations, administrative measures are applied to Members and 
Observers only when full year's assessed contributions are outstanding at the end of the year.  WT/BFA/W/632/Rev.1  
 
- 56 - 
 
  Members Contributions 
(in CHF ) Cat. 22 2020 and 
previous 
years  2021 2022 TOTAL  Advance  
The Gambia    -    -  27,855  27,855  -    
Georgia    -    -    -    -    74,290  
Germany    -    -    -    -    -    
Ghana    -    39,038    174,558   213,596   -    
Greece    -    -    -    -    -    
Grenada    -    -          -        -  1,470     
Guatemala    -    -    -    -    -    
Guinea  III  60,133  31,280   31,569  122,982   -    
Guinea -Bissau*  III  737,438   29,325  27,855   794,618   -    
Guyana    -    -    -    -    -  
Haiti   -    -    -    -    -    
Honduras    -    -    -    -    63,935   
Hong Kong, China    -    -    -    -    -  
Hungary    -    -    -    -    -  
Iceland    -    -    -    -    -    
India   -    -    -    -    4,576,655  
Indonesia    -    -    -    -    -    
Ireland    -    -    -    -    -    
Israel    -    -    -    -    951,318  
Italy   -    -    -    -    -    
Jamaica    -    -    -    -    2,646     
Japan    -    -    -    -    -    
Jordan    -    -    -    -    -    
Kazakhstan    -    -    -    -    -    
Kenya    -    -    -    -    6,272     
Korea, Republic of    -    -    -    -    -    
Kuwait, the State of    -    -    -    -    -    
Kyrgyz Republic    -    -  -  -  1,764     
Lao People's Democratic 
Republic    -    -    -    -    3,112     
Latvia    -    -    -    -    -    
Lesotho    -    -    27,855     27,855    -    
Liberia   
-    -    27,855     27,855    -    
Liechtenstein    -    -    -    -    - 
Lithuania    -    -    -    -       -  
Luxembourg    -    -    -    -    -    
Macao, China    -    -    -    -    -    
Madagascar    -    -    5  5  -    
Malawi    -    538    27,855   28,393   -    
Malaysia    -    -    -    -    -    
Maldives    -    -    -    -    1,470    
Mali   -    -    32,954    32,954    -  
Malta    -    -    -    -    -    
Mauritania   II  58,567  29,325  27,855  115,747  -    
Mauritius    -    -    -    -    -  
Mexico    -    -    -    -    -    
Moldova, Republic of    -    -    -    -    39,100  
Mongolia    -    -    -    -    64,612     
Montenegro    -    -    -    -    29,325   
Morocco    -    -    -    -    18,914     
Mozambique    -    -    -    -    -    
Myanmar    -    -    22,633  22,633  -    
Namibia    -    -    -    -    4,307  
Nepal    -    -    -    -    -    
Netherlands    -    -    -    -    287,728    
New Zealand    -    -    -    -    23,422  
Nicaragua    -    -    -    -    -    
Niger * III 140,914   29,325  27,855  198,094  -    
Nigeria    -    -    -    -    51,012   
North Macedonia    -    -    -    -    66,470     
Norway    -    -    -    -    -    
Oman    -    -    -    -    -    
Pakistan    -    -    8,820    8,820     - 
Panama     -    -  403  403    
Papua New Guinea   II 62,560     60,605  57,567  180,732   - 
Paraguay    -    -    -    -    -    
Peru   -    -    -  -  765    WT/BFA/W/632/Rev.1  
 
- 57 - 
 
  Members Contributions 
(in CHF ) Cat. 22 2020 and 
previous 
years  2021 2022 TOTAL  Advance  
Philippines    -    -    -    -    -    
Poland    -    -    -    -    -    
Portugal    -    -    -    -    817,190   
Qatar    -    -    -    -    -   
Romania    -    -    -    -    -    
Russian Federation    -    -    44,482   44,482   -    
Rwanda   I -    29,325     27,855   57,180   -    
Saint Kitts and Nevis    -    -    -    -    4    
Saint Lucia   -    -    -    -    1,495     
Saint Vincent and the 
Grenadines    -    -    6,837     6,837       -  
Samoa    -    -    -    -    15    
Saudi Arabia, Kingdom of    -    -    -    -    - 
Senegal   
-    8,078           
48,282 56,360   -    
Seychelles    -    -    -    -    -    
Sierra Leone    136,446     29,325     27,855    193,626     -  
Singapore    -    -    -    -    -    
Slovak Republic    -    -    -    -    -    
Slovenia    -    -    -    -    -    
Solomon Islands    -    -    -    -    1,470     
South Africa    -    -    -    -    -    
Spain    -    -    -    -    -    
Sri Lanka    -    -    180,129     180,129     -    
Suriname    -    -    27,855    27,855    -    
Sweden    -    -    -    -    -    
Switzerland    -    -    -    -    -    
Chinese Taipei    -    -    -    -    -    
Tajikistan    -    -    -    -    1,470     
Tanzania    -    -    -    -    -    
Thailand    -    -    -    -    -    
Togo   -    -    20    20    -    
Tonga    -    -    -    -    -    
Trinidad and Tobago    -    -    -    -    -    
Tunisia    -    -    -    -    -    
Türkiye    -    -    -    -    -    
Uganda   I 3,299     54,740     53,853     111,892     -    
Ukraine    -    -    480,963     480,963     -    
United Arab Emirates    -    -    -    -    -    
United Kingdom    -    -    -    -    369,950     
United States of America    -    -    -    -    -    
Uruguay    -    -    -    -    -    
Vanuatu    -    -    -    -    -    
Venezuela, Bolivarian 
Republic of   III  4,771,132     559,130     464,250     5,794,512     -    
Viet Nam    -    -    -    -    -    
Yemen   II  86,671     78,200     68,709     233,580     -    
Zambia   I -    80,155    72,423     152,578     -    
Zimbabwe     -    -    1,109     1,109     -    
TOTAL  17  8,330,344  3,167,862  5,270,359  16,768,565  10,224,829  
*  Members  not compliant with agreed payment plans terms . 
  WT/BFA/W/632/Rev.1  
 
- 58 - 
 
  Table 62 Outstanding Contributions from and Advances by Observers as of 
31 December  2022 (in CHF)  
      Cat23. 2001 -2020 2021 2022 Total Outstanding  Advance  
Andorra   -    -    -    -    310  
Bahamas   - - 29,325  29,325  - 
Comoros  I 24,857   29,325  29,325  83,507   -    
Curacao   -    -    1,391     1,391        - 
Equatorial Guinea    -    -    6,376     6,376        -  
Ethiopia  I  -    29,325     29,325  58,650   -    
Holy See    -    -    -    -    -  
Iran II  29,522  29,325  29,325  88,172  -    
Iraq II  29,443  29,325  29,325  88,093  -    
Lebanese Republic  I  -    29,325    29,325  58,650  -    
Libya*  III 25,896    n/a   n/a  25,896   -    
Sao Tome and 
Principe*  III 306,529   n/a   n/a  306,529  -    
Somalia*  III 89,984   n/a   n/a  89,984  -    
South Sudan     I  2,989     29,325  29,325  61,639  -    
Sudan   
-    -    -    -    3,064   
Syrian Arab Republic * III  58,650  29,325  n/a  87,975  -    
Timor -Leste    -    -    93  93  -    
Uzbekistan    -    -    -    -    1,933    
TOTAL  10 567,870  205,275  213,135  986,280  5,307  
*  Annual contributions suspended for Inactive Observers  
 
23 As per the Annex B of the Financial Regulations, administrative measures are applied to Members and 
Observers only when more than one full year's assessed contributions are o utstanding at the end of the year.    
  WT/BFA/W/632/Rev.1  
 
- 59 - 
 Schedule C Voluntary Contributors Received During  2022 
Table 63 Voluntary Contributions Received in 2022 by Trust F und 
Funds/ Contributors  Global Trust Fund STDF Standards 
and Trade 
Development 
Facility  Enhanced 
Integrated 
Framework – 
Executive 
Secretariat  French -Irish  
Mission  
Inter nship 
Programme  Netherland s 
Trainee 
Programm e China  LDCs and 
Accessions 
Programme  WTO Fisheries 
for the 
Participation 
of LDC Capital -
Based Officials  LDCs' 
Participation 
in WTO  
Ministerial 
Conferences   Total  
Australia  -  1,999,595      -     -     -     -     -   68,900    2,068,495   
Austria  213,200  -     -     -     -     -     -     -   213,200  
Canada  -   147,066    -     -     -     -     -     -   147,066  
China       476,500    476,500  
Estonia  20,840  -     -     -     -     -     -     -     20,840  
European Union  382,000   583,200     -     -     -     -     -   29,580   994,780  
France  554,950   453,200     -   908,100    -     -     -     -   1,916,250   
Germany  -   2,961,450     -     -     -     -     -     -   2,961,450   
Ireland  -   201,800     -   201,800    -     -     -     -   403,600  
Japan  162,121  -     -     -     -     -   120,266    -   282,387   
Korea  258,570   -     -     -     -     -     -     -   258,570   
Liechtenstein   40,000  -     -     -     -     -     -     -     40,000  
Netherlands  -   575,000    -     -   875,000    -     -     -   1,450,000  
New Zealand  -   -     -     -     -     -   95,008     -    95,008   
Norway  -   480,132     -     -     -     -     -     -   480,132   
Sweden  1,718,613   891,238     -     -     -     -     -     -   2,609,851   
United States  583,650  375,140     -     -     -     -     -     -   958,790   
UNOPS  -    -   3,682,336   -     -     -     -     -   3,682,336   
Reimbursements24         -187,674  
TOTAL * 3,933,944   8,667,821  3,682,336  1,109,900  875,000  476,500   215,274   98,480  18,871,581  
*  The Total of Voluntary Contributions received in 202 2 include the  contributions spent in the year amounting to CHF 1 7.68 million  as well as unspent contributions  
amounting to  CHF 1.63 million as depicted in Table 49 .  
 
 Schedule D Balance Due to Contributors as of 31 December  2022 
Table 64 Balance Due to Contributors as of 31 December  2022 by Trust Fund or Project   
Funds/ 
Contributors  Global Trust 
Fund  Enhanced 
Integrated 
Framework – 
Executive 
Secretariat  French - Irish 
Mission 
Internship 
Program  Independent 
Entity  Programme 
Support 
Fund  Netherlands 
Trainee 
Program  CDCRI: 
Investment 
Facilitation for 
Development  
Project  CDCRI: 
ASYCUDA 
TIVA 
Databases  
Project  WTO Fisheries 
for the 
Participation of 
LDC Capital -
Based Officials  Trade 
Facilitation 
Agreement 
Facility  STDF 
Standards and 
Trade 
Development 
Facility  China LDCs 
and 
Accessions 
Programme  LDCs' 
Participation 
in WTO 
Ministerial 
Conferences  Total  
Australia  341,745     -     -    -   -    -    -   -  2,064  429,620  1,978 ,788    -   1,369  2,753,587  
Austria  538,736     -     -    -   -    -    -   -  -   112,296   -     -    -  651,032  
Canada  72,649     -     -    -   -    -    -   -  -   -   613,407    -    536  686,592  
China  -     -     -    -   -    -   24,439 468,756 -   542,921   -   1,186,273   -  2,222,389  
Czech Republic    -     -     -    -   -    -    -   -    -     37,180     -     -     -   37,180  
Denmark  75,207     -     -    -   -    -    -   -  -   -   764,215    -     -   839,422  
European Union  -     -     -    -   -    -    -   -  -   -   -     -    -  - 
 
24 In 2022 a total amount of CHF 187,674 was reimbursed to the following Contributors : Australia CHF 131,079, UNOPS CHF 42,481, Netherlands CHF 13,094 and the 
European Union CHF 1,020    
  WT/BFA/W/632/Rev.1  
 
- 60 - Funds/ 
Contributors  Global Trust 
Fund  Enhanced 
Integrated 
Framework – 
Executive 
Secretariat  French - Irish 
Mission 
Internship 
Program  Independent 
Entity  Programme 
Support 
Fund  Netherlands 
Trainee 
Program  CDCRI: 
Investment 
Facilitation for 
Development  
Project  CDCRI: 
ASYCUDA 
TIVA 
Databases  
Project  WTO Fisheries 
for the 
Participation of 
LDC Capital -
Based Officials  Trade 
Facilitation 
Agreement 
Facility  STDF 
Standards and 
Trade 
Development 
Facility  China LDCs 
and 
Accessions 
Programme  LDCs' 
Participation 
in WTO 
Ministerial 
Conferences  Total  
Finland  662,795    -     -    -   -    -    -   -   -  228,054   572,840     -    799  1,464,487  
France  1,274,758    -   1,106,476  -   -   -   -   -  -   223,780   903,159     -     -   3,508,172  
Germany  1,062,476    -     -    -   -    -     -     -   36,239  -   4,531,043     -     -   5,629,758  
Ireland       -   256,726  -   -   -   -   -   -    18,396   579,845     -    659  855,626  
Japan  511,076    -     -    -   -    -     -     -   215,644  -   22,656     -     -   749,376  
Korea Rep. of  815,427    -     -    -   -    -     -     -   -   -   -     -     -   815,427  
Liechtenstein  123,492    -     -    -   -    -     -     -   -   -   -     -     -   123,492  
Lithuania  56,018    -     -    -   -    -     -     -   -   -   -     -     -   56,018  
Netherlands   -    -     -    -   -  1,108 ,130   -     -   -   -   1,866,319     -     -   2,974,449  
New Zealand  -     -     -    -   -   -   -   -  100,048    25,198  -     -    812  126,058  
Norway  993,913    -     -    -   -   -   -   -  80,600 2,373,673  2,234,080   -    1,108   5,683,374 
Sweden  5,709,904    -     -    -   -   -   -   -   -   -  3,169,972    -     -   8,879,876  
Switzerland   41,175    -     -    -   -   -   -   -   -   -      -    -    373  41,548  
Chinese Taipei    -     -     -    -   -   -   -   -   -   17,920      26,429    -   2,162     46,511  
United Kingdom  -     -     -    -   -   -   -   -   -  190,680     700,489     -     -   891,169  
United States  1,863,667    -     -    -   -   -   -   -   -    23,011     526,963     -     -   2,413,641  
Organizations:                  
UNOPS  -   338,553    -    -   -   -   -   -   -   -   -    -     -   338,553  
Others:  -                
Bureau Veritas 
International  -     -     -    17,549    -     -     -     -     -     -     -     -     -   17,549 
Cotecna 
International 
Ltd.  -     -     -    17,456    -     -     -     -     -     -     -     -     -   17,456 
Inchape Testing 
Services 
International 
Ltd.  -     -     -    17,549    -     -     -     -     -     -     -     -     -   17,549 
Inspectorate 
Griffith Ltd.  -     -     -    17,551    -     -     -     -     -     -     -     -     -   17,551 
Société Général 
de Surveillance  -     -     -    17,391    -     -     -     -     -     -     -     -     -   17,391 
WTO Members  -     -     -      773,787    -     -     -     -     -     -     -     -   773,787 
Total*  14,143,038  338,553  1,363,202 87,496  773,787  1,108,130  24,439  468,756  434,594  4,222,727  18,490,204  1,186,273  7,819  42,649,018  
*  Total of balance due to Contributors  in Schedule D excludes  advance payments of CHF 1,392  million  as depicted in Note 13.  
__________