RESTRICTED  
  
WT/BFA/W/482  
 
7 June 2019  
(19-3970) Page: 1/80 
Committee on Budget, Finance and Administration    
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
WORLD TRADE ORGANIZA TION  
2018 FINANCIAL PERFORMAN CE REPORT  
  
 WT/BFA/W/ 482 
 
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  EXECUTIVE SUMMARY  
1. As at the end of 2018, there were 164 Members in World Trade Organization (WTO).  
2. Since 2012, the WTO financial statements are prepared in accordance with International 
Public Sector Accounting Standards (IPSAS). These Standards aim to improve the quality of general -
purpose financial reporting by public sector entities, leading to better informed assessments of the 
resource allocation decisions, thereby increasing transparency and accountability1.  
3. IPSAS makes the disclosure of the long -term assets and liab ilities obligatory. Hence, the WTO 
Pension Plan and After Service Health Insurance assets and liabilities are reflected in the financial 
statements. This has had a considerable effect on the financial situation of the WTO Secretariat.  
4. 2018 was the 8th year of a Zero Nominal Growth budget for the WTO. The expenditure for 
the year amounted to CHF  196.5  million, compared to the budget of CHF  197.2  million, resulting in 
a positive variance of CHF 0.7 million. In addition, the miscellaneous income earned for th e year 
amounted to CHF 2.3 million compared to the budgeted amount of CHF 1.7 million, CHF 0.6 million 
more than forecast. These two budgetary outcomes compose the budgetary result of approximately 
CHF 1.320 million for the year.  
5. The budgetary result is a djusted by incorporating IPSAS requirements in order to determine 
the financial result. The financial result obtained in 2018 is a deficit of CHF  28.2 million. The key 
adjustments were the actuarial cost of pension and After Service Health Insurance (ASHI)  benefits.  
6. The General Council approved that the accumulated budget surplus of CHF 52 million, 
pertaining to the period 2012 to 2017, be transferred to the Working Capital Fund.  
7. The rate of receipt of Member contributions varies. In some months cash inflo ws are higher 
than monthly expenditure and in other months the inflows are lower tha n the monthly expenditure. 
This smooths out on a rolling annual basis.  
8. The WTO Pension Plan is a separately administered and managed entity and subject to its 
own regulati ons and rules. Therefore, the WTO Pension Plan assets and liabilities are expressed 
separately and distinctly to clearly highlight this information to stakeholders and third parties. Its 
Management Board directly reports to the General Council.  
9. Activities financed through the Global Trust Fund, in 2018, were carried out in conformity 
with the Biennial Technical Assistance and Training Plan, which encompasses seminars at the global 
and regional level; e -learning; academic support for training and capacity bu ilding; training 
programmes; and national activities, as requested by Members.  For example, in 2018, under the 
framework of these Trust Funds, e -learning courses w ere provided to 11,769 participants , in the 
three official languages . In addition, over 100 general and specialized Technical Assistance, training 
and capacity building activities were organized.  
10. Contributions to the Global Trust Fund have been declining over the past few years and 
expenditure in 2018 was higher than contributions. It is desi rable that the Global Trust Fund reverts 
to a positive annual cashflow situation.  
11. In 2018, a few new Trust Funds were established.   
 
 
 
 
                                                
1 Paraphrased from the IPSAS Board's aims and objectives.  WT/BFA/W/ 482 
 
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  TABLE OF CONTENT  
EXECUTIVE SUMMARY  ................................ ................................ ................................ ..... 2 
1   INTRODUCTION  ................................ ................................ ................................ .........  6 
1.1   Budget  ................................ ................................ ................................ ......................  6 
1.2   Outstanding Contributions  ................................ ................................ ...........................  7 
1.3   Budget Breakdown  ................................ ................................ ................................ ..... 8 
1.4   Capacity Building  ................................ ................................ ................................ ........  9 
1.5   Budgetary and Financial Result  ................................ ................................ ...................  10 
2   BUDGET PERFORMANCE  ................................ ................................ ...........................  11 
2.1   2018 WTO Income  ................................ ................................ ................................ .... 11 
2.2   Consolidated WTO Budget Performance  ................................ ................................ ....... 12 
2.3   2018 WTO Secretariat Budget Performance  ................................ ................................ . 13 
2.4   Part A - Staffing Resources  ................................ ................................ ........................  14 
2.5   Staff Expenditure ................................ ................................ ................................ ...... 14 
2.6   Temporary Assistance Expenditure  ................................ ................................ .............  15 
2.7   Part B - Other Resources  ................................ ................................ ...........................  15 
2.8   General Services  ................................ ................................ ................................ ...... 16 
2.9   Travel and Hospitality  ................................ ................................ ...............................  17 
2.10   Implementing Partners  ................................ ................................ ............................  18 
2.11   Capital Expenditure  ................................ ................................ ................................ . 18 
2.12   Financial Expenditure  ................................ ................................ ..............................  19 
2.13   Part C - Operating Funds and ITC  ................................ ................................ .............  19 
2.14   Transfers between Budgetary Sections  ................................ ................................ ...... 20 
2.15   2018 Budget Performance of the Appellate Body and its Secretariat  ..............................  21 
2.16   Expenditure by Ke y Activities and Projects  ................................ ................................ . 22 
2.17   Dispute Settlement  ................................ ................................ ................................ . 23 
2.18   Informati on Technology  ................................ ................................ ...........................  25 
2.19   Technical Assistance  ................................ ................................ ...............................  26 
2.20   Security  ................................ ................................ ................................ .................  26 
2.21   Building Maintenance  ................................ ................................ ..............................  27 
2.22   Documents Reproduction  ................................ ................................ .........................  27 
2.23   Human Resources Training Programme  ................................ ................................ ..... 28 
2.24   Public Forum  ................................ ................................ ................................ ..........  28 
3   EXPENDITURE PER OUTPUT CHAPTER  ................................ ................................ ...... 29 
3.1   Facilitating Negotiations  ................................ ................................ ............................  29 
3.2   Administering Agreed WTO Rules  ................................ ................................ ................  29 
3.3   Monitoring Trade Policies  ................................ ................................ ...........................  29 
3.4   Settling Disputes  ................................ ................................ ................................ ...... 29 
3.5   Capacity Building  ................................ ................................ ................................ ...... 30 
3.6   Assisting Accessions ................................ ................................ ................................ .. 30 WT/BFA/W/ 482 
 
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  3.7   Conducting Research  ................................ ................................ ................................  30 
3.8   Reaching Out  ................................ ................................ ................................ ...........  30 
4   PERFORMANCE OF TRUST FUNDS  ................................ ................................ .............  31 
4.1   Global Trust Fund  ................................ ................................ ................................ ..... 31 
4.2   The French Irish Internship Programme  ................................ ................................ ....... 34 
4.3   Netherlands Trainee Programme  ................................ ................................ ................  35 
4.4   Trade Facilitation Agreement Facility (TTFAF)  ................................ ...............................  36 
4.5   Ministerial Conference – Participation of LDCs  ................................ ..............................  36 
4.6   Standards and Trade Development Facility  ................................ ................................ .. 37 
4.7   China LDCs and Accessions Programme  ................................ ................................ ....... 37 
4.8   China Development Cooperation Research Fund  ................................ ...........................  37 
4.9   Enhanced Integrated Framework Executive Secretariat  ................................ .................  38 
4.10   Data Set on Trade in Services by Sector and Mode of Supply  ................................ ....... 38 
4.11   Natural Disaster and Trade  ................................ ................................ ......................  39 
4.12   Independent Entity – Pre-Shipment Inspection – Deposits  ................................ ...........  39 
4.13   Programme Support Fund  ................................ ................................ ........................  40 
5   FINANCIAL STATEMENTS  ................................ ................................ .........................  41 
5.1   Management L etter of Representation  ................................ ................................ .........  41 
5.2   Opinion of the external auditor  ................................ ................................ ...................  42 
5.3   WTO Financial Statements  ................................ ................................ .........................  44 
5.4   Notes to the Financial Statements  ................................ ................................ ..............  47 
5.4.1    Note 1 Accounting policies  ................................ ................................ ......................  47 
5.4.2    Note 2 Financial risk policy  ................................ ................................ ......................  50 
5.4.3    Note 3 Persistence of negative interest  ................................ ................................ ..... 51 
5.4.4    Note 4 Cash and cash equivalents  ................................ ................................ ............  51 
5.4.5    Note 5 Receivables from Member s, Observers and Donors  ................................ ..........  52 
5.4.6    Note 6 Inventories  ................................ ................................ ................................ . 52 
5.4.7    Note 7 O ther Receivables  ................................ ................................ ........................  53 
5.4.8    Note 8 Advances and Prepayments  ................................ ................................ ..........  54 
5.4.9    Note 9 Property, Plant and Equipment  ................................ ................................ ...... 54 
5.4.10    Note 10 Intangible Assets  ................................ ................................ .....................  55 
5.4.11    Note 11  Accounts payable  ................................ ................................ ..................  55 
5.4.12    Note 12  Assessed contributions paid in advance  ................................ ....................  56 
5.4.13    Note 13 Volun tary contributions refundable to donors  ................................ ...............  56 
5.4.14    Note 14 Employee benefits  ................................ ................................ ....................  57 
5.4.15    Note 15 Loan  ................................ ................................ ................................ ....... 61 
5.4.16    Note 16 Working Capital Fund  ................................ ................................ ...............  61 
5.4.17    Note 17 Reserves  ................................ ................................ ................................ . 61 
5.4.18    Note 18 Revenue  ................................ ................................ ................................ . 62 
5.4.19    Note 19 Expenses  ................................ ................................ ................................  64 WT/BFA/W/ 482 
 
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  5.4.20    Note 20 Segment reporting  ................................ ................................ ...................  65 
5.4.21    Note 21 Reconciliation with Budget  ................................ ................................ ........  66 
5.4.22    Note 22 Key management personnel  ................................ ................................ ...... 67 
5.4.23    Note 23 Contingent assets and contingent liabil ities ................................ .................  67 
5.4.24    Note 24 Events after the reporting date  ................................ ................................ .. 67 
5.5   Schedu les ................................ ................................ ................................ ................  68 
5.5.1    Schedule A 2018 Statement of Contributions from Members  ................................ ....... 68 
5.5.2    Schedule B Statement of Outstanding Contributions as at 31  December  2018 – Members
 ................................ ................................ ................................ ................................ ..... 72 
5.5.3    Schedule C Statement of Outstanding Contributions as 31 December  2018 – Observers  . 75 
5.5.4    Schedule D Voluntary Contributions Received in 2018  ................................ ................  76 
5.5.5    Schedule E Balance due to Donors as 31  December  2018 ................................ ...........  77 
5.5.6    Schedule F World Trade Organization – Programme Support Fund  ...............................  79 
 
 WT/BFA/W/ 482 
 
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  1  INTRODUCTION  
1.1.  In accordance with the WTO Financial Regulations, the Director -General is submitting the 
Financial Performance Report of the WTO for the year ended 31  December  2018. The report is 
presented in Swiss Francs (CHF).  
1.2.  This Financial Report comprises of the following key sections: Budget Performance, Expenditure 
per Output Chapter, Performance of Trust Funds and 201 8 Financial Statements. The Opinion of the 
External Auditor is based on the consolidated financial statements, which comprise of regular budget 
and Trust Funds.  
1.3.  The WTO is the only International Organization dealing with the global rules of trade between 
nations. The WTO's scope encompasses : 
a. Implementation and Monitoring of Existing Trade Rules: various WTO Bodies seek to 
ensure that WTO Agreements are being properly implemented. All WTO Members undergo 
periodic detailed review of their trade policies and practices.  
b. Trade Negotiations: chang es to the rules of trade require the agreement of all WTO 
Members, who must reach consensus through negotiations.  
c. Dispute Settlement: WTO Members bring disputes to the WTO if they are of the view that 
their rights under trade agreements are being infringed . Settling disputes is the 
responsibility of the Dispute Settlement Body.  
d. Building Trade Capacity: the WTO aims to help developing countries build their trade 
capacity. A large number of training activities are organized, each year, for officials from 
developing countries. This is part of a wider Aid -for-Trade Initiative, which also includes 
the Enhanced Integrated Framework (EIF) and the Standards and Trade Development 
Facility (STDF).  
e. Outreach: the WTO maintains regular dialogue with Non -Governmental Orga nizations, 
Parliamentarians, other International Organizations, the media and the general public on 
various aspects of the WTO, with the aim of enhancing cooperation and increasing 
awareness of WTO activities.  
1.1  Budget  
1.4.   The budget for 2018 -19 biennium was ap proved by the General Council through document 
WT/GC/M/170 . The 2018 budget amount ed to CHF 197.2 million . 
1.5.  Figure  1 shows the annual budget amounts since 2000. The 2011 and 2012 regular budget 
amounted to CHF  196 million per annum. The increase in 2013 rep resents the addition of 
CHF 1.2 million required to reimburse the interest -free loan for the new WTO building. In essence, 
the regular budget for activities remained stagnant for the past eight years.  
  WT/BFA/W/ 482 
 
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  Figure 1 Budget Evolution (MCHF)   
 
 
1.6.  The budget is financed from assessed contributions from Members and miscellaneous income:  
a. The share to be contributed by each Member is based on the Member's international trade 
(imports plus exports) in relation to the interna tional 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 overhead fees collected for the management of Trust Funds.  
1.2  Outstanding Contributions  
1.7.  From 2005 to 2016, the amount of outstanding contributions from Members steadily decreased, 
with the lowest level of arrears registered  in 2016.  
  
128134143155162169175182 185189194 196 196 197 197 197 197 197 197
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018WT/BFA/W/ 482 
 
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  Figure 2 Outstanding Contributions (MCHF)  
 
1.3  Budget Breakdown  
1.8.  The WTO Budget is divided into three parts: Part  A covers the cost of Staffing Resources ; Part B 
covers Other Costs ; and Part C covers Operating Funds and WTO's contribution to the budget of the 
International Trade Centre (ITC).  
Figure 3 WTO 2018 Budget by part  
 
 
1.9.  The budget allocated to Staffing Resources (Part A) represents approximately 75% of the total 
budget. This comprises salaries  and emoluments of regular st aff, fixed term staff, temporary staff, 
translators and consultants.  
22.626.8
24.631.5 31.3 31.0
27.6
25.3 25.4 25.9
23.725.925.1
22.0
19.322.9
16.533.8
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Part A -Staffing 
Resources
75%Part B -Other 
Resources
13%Part C -
Operating 
Funds & ITC
11%WT/BFA/W/ 482 
 
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  1.10.   The budget under Part B represents 14% of the total budget and mainly includes the 
expenditure for General Services; Travel & Hospitality; Capital and Financial Expenditure.  
1.11.   Part C, which represents 11% of the budget, includes the three Operating Funds  (being the 
Ministerial Conference Operation Fund, Appellate Body Operating Fund and Building Renovation 
Fund)  and the WTO's contribution to the International Trade Centre's budg et. 
1.4  Capacity Building  
1.12.   The International Trade Centre (ITC) is the joint technical co -operation agency of the 
United  Nations (UN) and the WTO, to boost Trade -related Technical Assistance (TRTA). Originally 
created by the General Agreement on Tariffs and Trade (GATT) in 1964, ITC has operated since 
1968 under the joint aegis of GATT/WTO and the UN, the latter acting through the United Nations 
Conference for Trade and Development (UNCTAD). ITC is the focal point for technical assistance and 
technical cooper ation activities in the trade promotion field, within the UN system of assistance to 
developing countries, as affirmed by the Economic and Social Council in its resolution 1819 (LV) of 
9th August  1973.  
1.13.   In addition to its regular budget, the WTO receives voluntary contributions for selected 
programmes that are managed through Trust Funds. In 201 8, the WTO incurred CHF 2 1 million of 
expenditure financed through Trust Funds.  
Figure 4 Key Donors to Trust Funds since 2000  
 
1.14.   The DDAGTF  (hereinafter referred to as "the Global Trust Fund")  is the core Trust Fund for 
technical assistance. Activities financed through the Global Trust Fund , in 2018, were carried out in 
conformity with the Biennial Technical Assistance and Training Plan , which e ncompasses  seminars 
at the global and regional level ; e-learning; academic support for training and capacity building; 
training programmes; and national activities , as requested by Members.  
 
 
WT/BFA/W/ 482 
 
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  Figure 5 Number of Contributors to Trust Funds  
 
1.5  Budget ary and Financial Result  
1.15.   As at 31 December 201 8, the WTO had budgetary savings of CHF 1. 320 million. However, the 
final financial result obtained was a deficit of CHF 28.2 million.  
1.16.   The variance between the budgetary re sult and financial deficit mainly derive s from the 
negative impact of the actuarial cost of pension and ASHI benefits.  
1.17.   Table 1 shows the evolution and the accumulation of the budgetary surplus and the financial 
deficit since the introduction of IPSAS in 2 012 until 31 December 201 8. The General Council held in 
December 2018 decide d that the accumulated budget surplus had to be transferred to the Working 
Capital Fund and that ad hoc investment guidelines had to be established to make a proper use of 
such fun d.  
1.18.   The accumulated budgetary surpluses of CHF 52 million was transfer red to the Working 
Capital Fund.  
Table 1 Reconciliation  of the Budgetary Surplus and Financial Deficit and Transfer of the 
Accumulated Budgetary Surplus for the period 2012 -2017 to the WCF  (kCHF)  
Reconciliation Budget and Financial Results  
2012 -2017  Transfer from 
budgetary 
surplus to WCF  2018  
(in Thousands of CHF)   
Accumulated Budgetary Surplus  52,025  -52,025  1,320  
IPSAS Adjustments  -152,947  -    6,740  
 Acquisition of Property Plant and Equipment  11,864  -   618  
 Depreciation and amortization of Property Plant & Equipment  -25,101  -   -5,078  
 Pension benefits actuarial valuation    -100,214  -   -20,166  
 ASHI benefits actuarial valuation   -76,101  -   -11,639  
Total Financial Deficit (Financial IPSAS Result)  -100,922  -52,025  -28,205  
6 627
2422 222324
19 19 19
14 141513 13121312 0 00
038713
1015
12
151312
1217
131216
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Global Trust Fund Contributions Other contributionsWT/BFA/W/ 482 
 
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  2  BUDGET PERFORMANCE2 
2.1  2018 WTO Income  
Table 2 WTO Income (kCHF)  
  Budget  Receipts  Balance  
Contributions from WTO Members  195,500  195,500  - 
Miscellaneous Income  1,704  2,295  591 
Total  197,204  197,795  591 
 
2.1.  The total income of the WTO, excluding Trust Funds, amounted to CHF  197.8  million in 2018. 
The positive balance of CHF 591, 390 is due to receipts under Miscellaneous Income, as detailed 
below:  
Table 3 2018 Miscellaneous Income (kCHF)  
Item  Budgeted 
Miscellaneous 
Income 2018  Income 
2018  Balance  
Contributions from Observer Countries  600  616  16  
Sale of Publications & Royalties  250  261  11  
Trust Fund – Overheads  180  190  10  
Refund of Prior Year Expenditure  150  379  229  
Savings on Outstanding Obligations  -  -  -  
Rental of Meeting Rooms & Office Space 125  126  1  
Profit/Loss on Exchange  -  -75  -75  
Interest on Investments  -  322  322  
Other  399  477  78  
Total  1,704  2,295  591  
 
2.2.  Under Miscellaneous Income, the positive result under 'Refund from prior year' expenditure' 
relate s to reimbursements for air tickets and the release of part of the provision for legal damages. 
The result under 'Interest on Investments' pertains to changes in the book valuation of a money -
market investment in USD. The loss on foreign exchange is linked to the evolution of the USD and 
the EUR during 2018. The positive result under 'Other' is partially related to rental and overhead 
fees received from the EIF.  
  
                                                
2 All balances are p resented in thousands of Swiss Francs. As  a result , details may not add to totals due 
to rounding . WT/BFA/W/ 482 
 
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  2.2  Consolida ted WTO Budget Performance  
Table 4 2018 Consolidated WTO Budget Performance  
(WTO Secretariat and Appellate Body and its Secretariat) (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  1. Staff Expenditure  i) Staff Remuneration  88,530  87,663  867 
    ii) Staff Pension & Post -
Employment Benefits  22,110  20,461  1,649  
    iii) Staff Health & Invalidity 
Insurance  5,944  5,929  16 
    iv) Staff Family & 
International Benefits  13,021  10,819  2,202  
    v) Other Staff Expenditure  1,810  1,749  62 
  2. Temporary 
Assistance  i) Short -Term Staff  9,033  12,981  -3,947  
    ii) Consulting  6,641  5,384  1,257  
    iii) Panellists & Appellate Body 
Members Fees  1,606  1,196  410 
A Staffing Resources Total     148,696  146,181  2,515  
B Other 
Resources  3. General Services  i) Telecommunication & Post  831 484 347 
    ii) Contractual Services & 
Maintenance  10,881  10,378  503 
    iii) Energy & Supplies  2,251  1,330  921 
    iv) Documentation & 
Publication  1,479  1,303  176 
    v) Other / Miscellaneous  88 14 74 
  4. Travel & 
Hospitality  i) Travel  7,144  7,213  -69 
    ii) Hospitality  216 149 67 
  5. Implementing 
Partners  i) Implementing Partners  213 405 -192 
  6. Capital 
Expenditure  i) Procurement of Fixed Assets  1,762  1,875  -112 
    ii) Rental & Leasing of 
Equipment  920 483 437 
  7. Financial 
Expenditure  i) Bank & Interest Charges  80 517 -437 
    ii) Building Loan 
Reimbursement  1,200  1,200  0 
B Other Resources Total     27,065  25,351  1,714  
C 
Operating 
Funds and 
ITC 8. Contributions to 
ITC & Special 
Reserves  i) Contribution to ITC  18,243  18,243  - 
    ii) Appellate Body Operating 
Fund 2,000  2,000  - 
    iii) Ministerial Conference 
Operating Fund  600 600 - 
    iv) Building Renovation Fund  600 4,100  -3,500  
C Operating Funds and ITC Total   21,443  24,943  -3,500  
Grand Total     197,204  196,475  729 
 
 
 
 
 
 
 WT/BFA/W/ 482 
 
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  Table 5 2018 Consolidated Expenditure (kCHF)  
 
Budget  Actual  Balance  
WTO Secretariat  189,624  189,516  108 
Appellate Body and its Secretariat  7,580  6,959  621 
Grand Total  197,204  196,475  729 
 
2.3  2018 WTO Secretariat Budget Performance  
Table 6 2018 WTO Secretariat Budget Performance (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  1. Staff Expenditure  i) Staff Remuneration  85,269  84,758  511 
    ii) Staff Pension & Post -
Employment Benefits  21,380  19,852  1,528  
    iii) Staff Health & Invalidity 
Insurance  5,765  5,751  14 
    iv) Staff Family & 
International Benefits  12,661  10,396  2,264  
    v) Other Staff Expenditure  1,767  1,703  64 
  2. Temporary 
Assistance  i) Short -Term Staff  8,978  12,818  -3,840  
    ii) Consulting  6,616  5,384  1,232  
    iii) Panellists  815 585 230 
A Staffing Resources Total    143,252  141,248  2,003  
B Other 
Resources  3. General Services  i) Telecommunication & Post  822 484 338 
    ii) Contractual Services & 
Maintenance  10,863  10,378  485 
    iii) Energy & Supplies  2,231  1,328  903 
    iv) Documentation & 
Publication  1,469  1,301  168 
    v) Other / Miscellaneous  87 14 72 
  4. Travel & 
Hospitality  i) Travel  7,094  7,191  -97 
    ii) Hospitality  215 148 66 
  5. Implementing 
Partners  i) Implementing Partners  213 405 -192 
  6. Capital 
Expenditure  i) Procurement of Fixed Assets  1,737  1,875  -137 
    ii) Rental & Leasing of 
Equipment  920 483 437 
  7. Financial 
Expenditure  i) Bank & Interest Charges  80 517 -437 
    ii) Building Loan 
Reimbursement  1,200  1,200  - 
B Other Resources Total    26,929  25,325  1,605  
C 
Operating 
Funds and 
ITC 8. Contributions to 
ITC & Special 
Reserves  i) Contribution to ITC  18,243  18,243  - 
    iii) Ministerial Conference 
Operating Fund  600 600 - 
    iv) Building Renovation Fund  600 4,100  -3,500  
C Operating Funds and ITC Total   19,443  22,943  -3,500  
Grand Total     189,624  189,516  108 
 
 WT/BFA/W/ 482 
 
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  2.4  Part A - Staffing Resources  
2.3.  Part A comprises  expenditure for regular staff 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, consultants and panellists is also 
included under this Part.  
2.5  Staff Expenditure  
Figure 6 Comparison Budget/Expenditure for Regular Staff (kCHF)  
 
 
2.4.  Under Staff Remuneration, the expenditure is in line with the 2018 budget. It also includes a 
partial provision for invalidity as requested by the WTO External Auditors in their 2017 report.  
2.5.  Under Staff Pension and Post -Employment Benefits, the pension contributions for regular staff 
as well as retired staff are included.  The savings realized under  pension contributions for regular 
staff are due to vacant posts during 2018.  
2.6.  Under Staff Health & Invalidity Insurance, the contribution of regular staff to the WTO health 
insurance has been fully expensed , with an allocation o f CHF 637,000 to the Special Reserve Account 
for medical premiums. Under the death and invalidity insurance, a small saving was realised.  
2.7.  The savings u nder Staff Family & International Benefits, relate to  dependency allowances . 
2.8.  Under Other Staff Expenditur e, the overspending under Separation Grant and US taxes has 
been fully offset by savings under Installation Grant and Terminations.  
85,269
21,380
5,76512,661
1,76784,758
19,852
5,75110,396
1,703
i) Staff Remuneration ii) Staff Pension &
Post-Employment
Benefitsiii) Staff Health &
Invalidity Insuranceiv) Staff Family &
International Benefitsv) Other Staff
Expenditure
Budget ExpenditureWT/BFA/W/ 482 
 
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  2.6  Temporary Assistance Expenditure  
Figure 7 Comparison of Budget  and Expenditure for Temporary Assist ance (kCHF)  
 
2.9.  The main over -expenditure under Temporary Assistance is due to the recruitment of additional 
short-term staff  for the organization's needs as  well as replacements for staff members on leave 
without pay, on long -term sick leave and filling of vacant posts on a temporary basis.  
2.10.   Under Translation and Interpretation, the saving s were entirely under interpretation , which is 
traditionally slightly lower in a non -ministerial year. The allocation under translation was fully spent.  
2.11.   Under Consultants, t he small saving s are due to lower expenditure -rate under the technical 
assistance related training courses as well as the Human Resources Training Programme.  
2.12.   Under Panellist Fees, the saving s were due to lower activity as well as an increase in the 
budget , compared to 2017.  
2.7  Part B - Other Resources  
2.13.   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.  
  
3,5838,374
3,637
8156,6788,073
3,450
585
Temporary Staff Translators and
InterpretersConsultants Panellist Fees
Budget ExpenditureWT/BFA/W/ 482 
 
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  2.8  General Services  
Figure 8 Comparison Budget  of the Expenditure and for General Services (kCHF)  
 
 
 
2.14.   The saving s under Telecommunication and Post are mainly due to lower than forecast postal 
expenditure. This is the result of fewer documents being dis patched to Members and the continued 
reduction of paper use in the WTO.  
2.15.   Under Contractual Services and Maintenance, the saving s are attributable  to strict 
management of the contract s with the external security provider and the cleaning company, 
respective ly. This saving is partly offset by the over -expenditure under the IT Service Desk and the 
contribution to the United Nations International Computing Centre ( UNICC). 
2.16.   Under Energy and Supplies, the saving s mainly consist of low expenditure for  supplies in t he 
areas of IT, documents reproduction and office supplies. In addition, savings have been realised 
under electricity and gas & fuel.  
2.17.   Under Documentation and Publications , the savings pertain  to publications which include the  
offset  from writing off some obsolete  inventory for publications.  
2.18.   Under Other/Miscellaneous, the expenditure under Membership Fees and Advertising was 
lower than originally budgeted.  
822 10,863 
2,231 
1,469 
87 484 10,378 
1,328 1,301 
14 
i) Telecommunication &
Postii) Contractual Services &
Maintenanceiii) Energy & Supplies iv) Documentation &
Publicationv) Other / Miscellaneous
Budget ExpenditureWT/BFA/W/ 482 
 
- 17 - 
 
 
  2.9  Travel and Hospitality  
Figure 9 Comparison of the Budget  and Expenditure for Travel and Hospitality (kCHF)  
 
 
2.19.   With respect to Travel, the slight overspending is due to over -expenditure under the divisional 
travel budgets.  
2.20.   The overspending u nder Insurance resulted from the expenditure under the International SOS  
insurance , an insurance for the travel security and the medical assistance to WTO travellers.  
2.21.   The saving s under Hospitality  are due to a very strict management of the hospitality budget , 
particularly under the divisional budgets and under the training bu dget. 
  
6,963
1302156,976
215 148
Travel Insurance Hospitality
Budget ExpenditureWT/BFA/W/ 482 
 
- 18 - 
 
 
  2.10  Implementing Partners  
Figure 10 Comparison of the Budget  and Expenditure for Implementing Partners (kCHF)  
 
 
 
2.22.   Implementing Partners  represent events that are partially or fully funded by the WTO and 
executed by a third -party organization, contributions to professional networks, contributions to the 
Staff Assistance Fund and contributions to the International Labour Organization (ILO) 
Administrative Tribunal.  
2.23.   The overspending is related to the contribution for a session at the ILO tribunal, a provision 
for legal damages and an overspending on the WTO essay award as well as the development of a 
global trade model.  
2.11  Capital Expenditure  
Figure 11 Comparison of the Budget  and Expenditure for Capital Expenditure (kCHF)  
 
 
 
2.24.   The overspending under Procurement of fixed assets is partly due to the second part of the 
funding for the update of the WTO security system. This figure also includes the first part of the 
update of the WTO conference equipment. This over -expenditure is partly offset by savings under 
Computing Hardware.  
2.25.   Under Rental and Leasing  of Equipment, a saving of CHF 0.4 4 million was realized, which is 
partly  due to the reduction of printing equipment from 3 to 2 black -and-white printers.  
 
213405
Implementing Partners
Budget Expenditure
1,737
9201,874
483
Procurement of Fixed Assets Rental & Leasing of Equipment
Budget ExpenditureWT/BFA/W/ 482 
 
- 19 - 
 
 
  2.12  Financial Expenditure  
Figure 12 Comparison Budget/Expenditure for Financial Expenditure (kCHF)  
 
 
 
2.26.   The Financial Expenditure includes the reimbursement of the 50 -year interest -free loan for 
the new administrative building of the WTO, as well as bank and interest charges. Since the end of 
March  2015, the WTO's main banks are charging negative interest on the current account balances, 
above ne gotiated threshold amounts. The market conditions with respect to negative interest have 
deteriorated in 2018.  
2.13  Part C - Operating Funds and ITC  
2.27.   Part C is related  to the contribution to the budget of the International Trade Centre and 
allocation of funds t o the Operating Funds of the WTO.  
Figure 13 Comparison Budget/Expenditure for Operating Funds and ITC (kCHF)  
 
801,200
5171,200
Bank & Interest Charges Building Loan Reimbursement
Budget Expenditure
18,243
600 60018,243
6004,100
Contribution to ITC Ministerial Conference Operating Fund Building Renovation Fund
Budget ExpenditureWT/BFA/W/ 482 
 
- 20 - 
 
 
  2.28.   The CHF 18.2 million contribution to the International Trade Centre has been transferred in 
full. 
2.29.   The Ministerial Conference Operating Fund was established in 1999 and is aimed at avoiding 
budgetary fluctuations with respect to the expenditure for Ministerial Conferenc es, which in general 
takes place every two years. The year 2018 represented the first year of replenishment of the fund.  
2.30.   The Building Renovation Fund (BRF) 3 was established at the end of 2015 in order to reserve 
funds to finance medium and long -term buildi ng and infrastructure maintenance and renovation. 
Following the guidelines of the Building Renovation Fund, it was replenished with CHF 0.6 million at 
the beginning of 2018. An additional CHF 3.5 million was allocated at the end of 2018, as an exercise 
of prudence, given that the estimated amount to be collected over a 10 -year period approximates 
CHF 25 million.  
2.14  Transfers between Budgetary Sections  
2.31.   In accordance with Financial Regulation 21 and Financial Rule 4.4, transfers between WTO 
budgetary sections ar e necessary in order to cover excess expenditure over approved appropriations 
by using savings from other budgetary sections. Authority is sought to increase these appropriations 
accordingly, as follows:  
Table 7 Proposed Transfers b etween Sections of the 2018 WTO Budget (kCHF)  
Part Section  Budget  Expenditure  Balance  Proposed 
Transfers  Revised 
Appropri -
ations  Balance  
A Staffing 
Resources  1. Staff 
Expenditure  126,842  122,462  4,381  -4,272  126,734  108 
  2. Temporary 
Assistance  16,409  18,786  -2,377  2,377  16,409  - 
A Staffing Resources Total  143,251  141,248  2,003  -1,895  143,143  108 
B Other 
Resources  3. General 
Services  15,471  13,506  1,965  -1,965  15,471  - 
  4. Travel & 
Hospitality  7,308  7,339  -31 31 7,308  - 
  5. Implementing 
Partners  213 405 -192 192 213 - 
  6. Capital 
Expenditure  2,657  2,357  300 -300 2,657  - 
  7. Financial 
Expenditure  1,280  1,717  -437 437 1,280  - 
B Other Resources Total  26,929  25,325  1,605  -1,605  26,929  - 
C 
Operating 
Funds and 
ITC 8. Contributions 
to ITC & Special 
Reserves  19,443  22,943  -3,500  3,500  19,443  - 
C Operating Funds and ITC 
Total  19,443  22,943  -3,500  3,500  19,443  - 
Grand Total  189,624  189,516  108 0 189,516  108 
 
  
                                                
3 WT/BFA/W/359 Building Renovation Fund.  WT/BFA/W/ 482 
 
- 21 - 
 
 
  2.15  2018 Budget Performance of the Appellate Body and its Secretariat  
2.32.   The budget for the Appellate Body and its Secretariat is distinct from the budget of the WTO 
Secretariat. It follows the same structure as that of the WTO Secretariat. Expenditures  incurred by 
the Appellate Body and its Secretariat are divided into permane nt costs and variable costs linked to 
the number of disputes handled by the Appellate Body.  
Table 8 2018 Budget Performance of the Appellate Body and its Secretariat (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  1. Staff 
Expenditure  i) Staff Remuneration  3,261  2,904  356 
    ii) Staff Pension & Post -
Employment Benefits  730 608 121 
    iii) Staff Health & 
Invalidity Insurance  179 177 2 
    iv) Staff Family & 
International Benefits  361 423 -62 
    v) Other Staff Expenditure  43 46 -2 
  2. Temporary 
Assistance  i) Short -Term Staff  55 163 -107 
    ii) Consulting  25 0 25 
    iii) Appellate Body 
Members ' Fees 791 612 179 
A Staffing Resources Total     5,444  4,933  511 
B Other 
Resources  3. General 
Services  i) Telecommunication & 
Post 10 - 10 
    ii) Contractual Services & 
Maintenance  18 - 18 
    iii) Energy & Supplies  20 2 18 
    iv) Documentation & 
Publication s 10 2 8 
    v) Other / Miscellaneous  2 - 2 
  4. Travel & 
Hospitality  i) Travel  50 23 27 
    ii) Hospitality  1 - 1 
  6. Capital 
Expenditure  i) Procurement of Fixed 
Assets  25 - 25 
B Other Resources Total     136 26 109 
C Operating 
Funds and 
ITC 8. Contributions 
to ITC & Special 
Reserves  ii) Appellate Body 
Operating Fund  2,000  2,000  - 
C Operating Funds and ITC Total   2,000  2,000  - 
Grand Total      7,580  6,959  621 
 
2.33.   The expenditure incurred by the Appellate Body and its Secretariat amounted to 
CHF 6.959  million in 2018. This led to a budgetary saving of CHF 0.6  million, which is mainly due to 
savings under Staff Expenditure and the Appellate Body Member fees.  
2.34.   The CHF 2 mi llion contribution to the Appellate Body Operating Fund , which covers the 
variable costs associated with appeals  (mainly daily fees and travel costs of Appellate Body 
Members ) was directly allocated to the A ppellate Body Operating Fund at the beginning of the year.  
2.35.    The detail of the expenditure  incurred by the A ppellate Body Operating Fund, in 2018 , is 
presented in the following table.  
 
 WT/BFA/W/ 482 
 
- 22 - 
 
 
  Table 9 Appellate Body Operating Fund Expenditure (kCHF)  
Statement of Expenditure of the Appellate Body Operating Fund   kCHF  
Opening Balance as at 1  January  2018  1,978  
Contribution from the regular budget  2,000  
Sub-Total  3,978  
Expenditure in 2018:    
Appellate Body Members' daily fees  -810 
Appellate Body Members' travel expenditure  -506 
Consultants for Oral hearings  -101 
Postage  -1 
Total expenditure  -1,418  
Closing balance as at 31  December  2018  2,560  
 
2.16  Expenditure  by Key Activities and Projects  
Figure 14 Expenditure by Key Activities and Projects (kCHF)  
 
 
2.36.   The expenditure  by key activities and projects is detailed in the following sections:  
  
1,651
2,856
7,900
4,548
4,630
3,497
1,524
1,371
3502,257
2,775
7,773
4,544
4,397
2,761
919
1,227
328Dispute Settlement -
Panels
Dispute Settlement -
Appeals
IT
Technical Assistance
Activities
Security
Building Maintenance
Documents Reproduction
HR Training Programme
Public Forum
Budge t ExpenditureWT/BFA/W/ 482 
 
- 23 - 
 
 
  2.17  Dispute Settlement  
 Table 10 Dispute Settlement Expenditure – Panels (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  71 1,119  -1,048  
    ii) Consulting  - 50 -50 
    iii) Panellists  815 585 230 
A Staffing Resources Total  886 1,754  -868 
B Other 
Resources  3. General 
Services  i) Telecommunication 
& Post  10 5 5 
    ii) Contractual 
Services & 
Maintenance  - - - 
    iii) Energy & Supplies  - - - 
    iv) Documentation & 
Publication s - 1 -1 
  4. Travel & 
Hospitality  i) Travel  755 497 258 
    ii) Hospitality  - - - 
B Other Resources Total  765 503 262 
Grand Total    1,651  2,257  -606 
 
2.37.   During 2018, the WTO received thirty -eight requests for consultations for new cases and a 
further four such requests relating to compliance proceedings. Thirty -three panels were established 
by the Dispute Settlement Body, in  the course of the year. The significant number of established 
requests for consultations and panels reflects a higher than usual involvement of Members in dispute 
settlement when compared with the previous year. In 2018,  a monthly average of thirty -two panel 
and arbitration proceedings were ongoing , including panels in composition and panel reports in 
translation  but excluding appea ls. This number is  the same as  that in the previous year. Fifteen 
panel reports were circulated in 2018 . Eleven of these concerned original disputes and four 
concerned disputes regarding compliance. One arbitration decision on the reasonable period of time  
for implementation of D ispute Settlement Body rulings and recommendations under Article 21.3(c) 
was also circulated.  
2.38.   Under short -term staff, there was an over -expenditure of CHF 1,048,000 (an increase of 
CHF 153,000 compared to 2017). This includes the ex penditure for short -term lawyers as well as 
other temporary staff hired to support dispute settlement divisions. This higher figure is largely due 
to the need for additional short -term resources to deal with continuing high workload arising from 
dispute se ttlement activities, at a time when it was also necessary to backfill gaps in the normal 
staff establishment arising from staff on loan to other WTO Divisions, as well as staff on leave without 
pay and maternity leave.   
2.39.   There is a budget surplus for 2018 p anellist fees of CHF 230,000.  The decrease of expenditure 
on panellist fees from 2017 to 2018 was around CHF 185,000. The reasons for the budget surplus 
and the decreased expenditure were: (i) the Budget was increased from 2017 to 2018 by 
CHF 100,000, in a nticipation of greater demand based on the 2017 experience.  The number of active 
panels, however, ended up remaining the same; (ii) the Rules Division had slightly fewer panel 
meetings in 2018 than in 2017.  Whilst the number of active panels was similar in  2018 and 2017, 
the amount of ongoing panel work, and the timetables for the panels provided for fewer meetings 
involving panellists in 2018. Panellist fees are only processed after panel meetings have been held 
in Geneva.  Hence the reduced expenditure in this area is largely an issue relating to the timing of 
when expenses are processed. As earlier indicated . A large number of panels were established 
towards the end of 2018.   WT/BFA/W/ 482 
 
- 24 - 
 
 
  Table 11 Dispute Settlement Expenditure – Appeals (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  55 163 -108 
    ii) Consulting  - - - 
    iii) Appellate Body 
Members Fees  791 612 179 
A Staffing Resources Total  846 775 71 
B Other 
Resources  3. General Services  i) Telecommunication 
& Post  10   10 
    ii) Contractual 
Services & 
Maintenance  - - - 
    iv) Documentation & 
Publication s - - - 
B Other Resources Total  10 - 10 
C Operating 
Funds and ITC  8. Contributions to 
ITC & Special 
Reserves  ii) Appellate Body 
Operating Fund  2,000  2,000  - 
C Operating Funds and ITC Total  2,000  2,000  - 
Grand Total    2,856  2,775  81 
 
2.40.   Dispute settlement activity related to appeals was very high in 2018, with twelve appeal 
proceedings initiated and nine Appellate Body reports circulated. This includes the civil aircraft 
compliance case ("EC and Certain Member States – Large Civil Aircraft (Airbus)" ) which was 
completed in May 2018. Work on an other large aircraft compliance case filed in 2017 continued 
throughout 2018. Another complex appeal that was finalized in December 2018 is Brazil – Taxation 
Measures (Complaints by the European Union and Japan). In addition, Appellate Body Secretariat 
staff worked on one arbitration proceeding on the reasonable period of time for the implementation 
of DSB rulings that was also issued in 2018.  
2.41.   The two most voluminous appeals since 1996 were pending before the Appellate Body in 
2018: Th ese are the highly com plex compliance proceedings "US – Large Civil Aircraft (Boeing)", as 
well as the  appeals by Honduras and the Dominican Republic in Australia – Tobacco Plain Packaging. 
The n umber, size and complexity of appeals coupled with the continuing vacancy of four p ositions 
on the Appellate Body are leading to very significant delays in the resolution of disputes. At the end 
of 2018, a total of thirteen appeal proceedings were pending before the Appellate Body. This is the 
second -highest number of appeals since 1996.   
2.42.   Under dispute settlement expenditure related to appeals, the over -expenditure for temporary 
staff is, as under the panel stage, linked to the expenditure for short -term lawyers and short -term 
support staff hired  to work on the large number of pending app eals. These expenditures were more 
than compensated by savings from vacant posts in 2018 .  
  WT/BFA/W/ 482 
 
- 25 - 
 
 
  2.18  Information Technology  
Table 12 Information Technology Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  40 240 -200 
    ii) Consulting  1,763  1,382  381 
A Staffing Resources Total    1,803  1,621  182 
B Other 
Resources  3. General Services  i) Telecommunication 
& Post  324 302 22 
    ii) Contractual 
Services & 
Maintenance  4,195  4,650  -455 
    iii) Energy & Supplies  270 64 206 
    v) Other / 
Miscellaneous  - - - 
  4. Travel & 
Hospitality  i) Travel  15 4 11 
    ii) Hospitality  1 - 1 
  6. Capital 
Expenditure  i) Procurement of 
Fixed Assets  1,160  986 174 
    ii) Rental & Leasing of 
Equipment  132 146 -14 
B Other 
Resources 
Total      6,097  6,152  -55 
Grand Total      7,900  7,773  127 
 
2.43.   Around two thirds of the IT expenditure related to the running of the day -to-day business. 
The two largest items included the United Nations International Computing Centre (UNICC) with 
CHF 1.8 million and the IT Service Desk with CHF 1.1 million. Other major items in the contractual 
services included several maintenance contracts with software publisher s, with consultancy 
companies for custom -built applications and with hardware manufacturers. The telecommunication 
costs remained stable.  
2.44.   A third of the budget was allocated to projects. In 2018, the IT Solutions Division kept on a 
similar dynamic pace as  in 2017 and engaged in 47 projects.  The move of all workstations to Office 
365 was a major change during the year and was completed successfully in around 3 months. Many 
of these projects are the results of collaboration with other Divisions. For example:  HR Division on 
a new platform for the Staff Online Administrative Manual , Market Access Division on a web site for 
the import licensing committee, Environment division, who invited the DG to launch the Environment 
database  during  the Public Forum, Trade Policy Review Division  for an electronic Question and 
Answer system with Members and on a new platform to manage the Trade Monitoring measures 
collection and dissemination, Economic Research and Statistics Division for the launch of the new 
data portal , and the new webcasting services  for WTO meetings for the Conference Team . 
2.45.   In addition to these projects, the Division engaged in a few innovative pilots: testing Artificial 
Intelligence to better exploit off icial documents, piloting Amazon Web Services APIs to improve how 
the Secretariat searches the Web as part of the trade Monitoring exercise.  
2.46.   Finally, the Division has made progress in improving the Secretariat security posture. With a 
larger budget allocat ed to this domain, new policies were finalized, a new Security Operation Centre 
was selected and is being deployed and new tools to avoid leakage of highly secure information were 
procured and are being engineered before implementation.  
 WT/BFA/W/ 482 
 
- 26 - 
 
 
  2.19  Technical Assistan ce 
Table 13 Technical Assistance Related Training Courses by Expenditure Line (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  6 66 -60 
    ii) Consulting  305 114 191 
A Staffing Resources Total    311 180 130 
B Other 
Resources  3. General Services  i) Telecommunication 
& Post  67 - 67 
    iii) Energy & Supplies  20 21 -1 
    iv) Documentation & 
Publication s 31 3 28 
  4. Travel & Hospitality  i) Travel  4,070  4,323  -253 
    ii) Hospitality  50 16 33 
  7. Financial 
Expenditure  i) Bank & Interest 
Charges  - - - 
B Other 
Resources 
Total      4,237  4,363  -126 
Grand Total      4,548  4,544  4 
 
2.47.   The technical assistance related training budget was almost fully spent in 2018. The 
overspending under the travel expenditure mainly related to higher expenditure under the missions 
for national activities (CHF 190,000) and the over -expenditure under the regular trade policy courses 
(CHF 97,000). This over -expenditure has been compensated by savings under consultants.  
2.20  Security  
Table 14 Security Expenditure (kCHF)  
Part Section  Line Account  Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  ii) Consulting  Consulting Firms & 
Employment 
Agencies  - 79 -79 
A Staffing Resources Total     - 79 -79 
B Other 
Resources  3. General 
Services  ii) Contractual 
Services & 
Maintenance  Building Maintenance  225 46 179 
      Contractual Services  3,513  3,410  103 
      Equipment 
Maintenance  250 174 76 
    iii) Energy & 
Supplies  Supplies  25 8 17 
      Water  - 6 -6 
  4. Travel & 
Hospitality  i) Travel  Insurance / 
Participants  130 107 23 
  6. Capital 
Expenditure  i) Procurement 
of Fixed Assets  Security Equipment  487 566 -79 
B Other Resources Total      4,630  4,318  312 
Grand Total       4,630  4,397  233 
 
2.48.   The update of security systems  was completed in 2018.  This include  video surveillance, access 
control, supervision and anti -intrusion.  In addition, t he security perimeter has been enhanced with 
an electronic detection of intrusions through thermic cameras and lasers.  
2.49.   The over -expendit ure under security equipment was offset by saving s under building 
maintenance, amount paid to the outsourced security provider and equipment maintenance .  WT/BFA/W/ 482 
 
- 27 - 
 
 
  2.21  Building Maintenance  
Table 15 Building Maintenance Expenditure (kCHF)  
Part Section  Line Account  Budget  Expenditure  Balance  
B Other 
Resources  3. General 
Services  ii) Contractual 
Services & 
Maintenance  Contractual Services  948 852 96 
   
Equipment Maintenance  7 5 2    
Building Maintenance  1,208  998 210    
Insurance  175 102 73   
iii) Energy & 
Supplies  Electricity  595 299 296 
   
Water  54 66 -12    
Gas & Fuel  450 375 75    
Supplies  60 63 -3 
B Other Resources Total   
3,497  2,761  736 
 
2.50.   The savings under  Building Maintenance  were mainly due to steps taken to reduce the  
consumption of electricity  and due to relatively low expenditure under the general building 
maintenance following  recent renovations . 
2.22  Documents Reproduction  
Table 16 Documents Reproduction and Distribution Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  200 267 -67 
    ii) Consulting  - 6 -6 
A Staffing Resources Total    200 274 -74 
B Other 
Resources  3. General 
Services  ii) Contractual 
Services & 
Maintenance  60 41 19 
    iii) Energy & Supplies  524 286 238 
  6. Capital 
Expenditure  ii) Rental & Leasing of 
Equipment  740 318 422 
B Other Resources Total    1,324  645 679 
Grand Total    1,524  919 605 
 
2.51.   In the area of Documents Reproduction, the equipment has been significantly reduced over 
the previous years. In 2013, the budget was reduced by CHF 300,000 and in 2016 by another 
371,000. In the area of leasing of equipment, the production equipment for the black -and white 
printers has been reduced from 6 to 3 machines in 2016, and by another machine in the course of 
2018. The whole area is currently under review.  
  WT/BFA/W/ 482 
 
- 28 - 
 
 
  2.23  Human Resources Training Program me 
Table 17 Human Resources Training Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  ii) Consulting  1,075  1,027  48 
A Staffing Resources Total  1,075  1,027  48 
B Other 
Resources  3. General 
Services  ii) Contractual Services 
& Maintenance  - - - 
    v) Other / 
Miscellaneous  - - - 
  4. Travel & 
Hospitality  i) Travel  220 147 73 
    ii) Hospitality  76 53 23 
B Other Resources Total  296 200 96 
Grand Total    1,371  1,227  144 
 
2.52.   In 2018, the Human Resources Division  worked in conjunction with internal stakeholders to 
conduct a number of Secretariat -wide initiatives. These included (i) Windows Migration training for 
410 staff; (ii) an Upward Feedback exercise for directors an d managers; (iii) the commencement of 
an e-learning programme on "Discrimination, Harassment and Abuse of Authority" ; and  (iv) A 
Wellness Challenge to raise awareness of the impact of a healthy diet and regular exercise on 
performance in the workplace.  
2.53.   In support of the Director -General's pledge as an International Gender Champion, a network 
for Female Directors from the WTO and the United Nations Offices based in Geneva was launched to 
provide senior female executives with an opportunity to share best p ractice.  
2.54.   Learning Networks were also established for various categories of st aff, on topical issues and 
areas of interest specific to the category.   
2.55.   Requests for language training in the WTO's three official languages increase d in 2018.  
2.56.   The above -mentioned learning initiatives were in addition to internal programmes such as 
"Data Visualization", "Speech Writing"; "Economics for non -Economists"; "Moderating Panels", 
executive coaching, team coaching , divisional retreats and a Directors'  retreat. Secretariat staff also 
attended 168 external training events.  
2.57.   The expenditure rate under the Human Resources Training Program me in 201 8 was 89.5% 
with a saving of CHF 144,000. The saving s were mainly realized under consulting agencies.  
2.24  Public Forum  
Table 18 Public Forum Expenditure (kCHF)  
Part Section  Line Budget  Expenditure  Balance  
A Staffing 
Resources  2. Temporary 
Assistance  i) Short -Term Staff  100 132 -32 
A Staffing Resources Total    100 132 -32 
B Other 
Resources  3. General 
Services  ii) Contractual Services & 
Maintenance  30 3 27 
    iii) Energy & Supplies  30 33 -3 
    iv) Documentation & 
Publication  60 96 -36 
  4. Travel & 
Hospitality  i) Travel  110 43 67 
    ii) Hospitality  20 16 4 
  6. Capital 
Expenditure  ii) Rental & Leasing of 
Equipment  - 6 -6 
B Other Resources Total    250 196 54 
Grand Total      350 328 22 WT/BFA/W/ 482 
 
- 29 - 
 
 
  2.58.   The Public Forum is the WTO 's largest annual outreach event, which provides a platform for 
Heads of Government and Ministers, Parliamentarians, leading global business people, students, 
academics and Non -governmental Organizations to come together and debate on a wide range of 
WTO is sues and on some of the major trade and development topics of the day. The event attracts 
more than 1,500 participants every year. As the pace of change continues to increase, the WTO 
Public Forum 2018 considered what sustainable trade would look like in 2 030 and beyond. Under 
the main theme of "Trade 2030", the Public Forum's sub -themes were sustainable trade, technology -
enabled trade and a more inclusive trading system. The overall expenditure was in line with the 
budget.  
3  EXPENDITURE PER OUTP UT CHAPTER   
3.1.  The expenditure for 201 8 is reflected in the table below:  
Table 19 2018 Expenditure by Output Chapter  
Output  Budget 2018  % of 
total  Expenditure  
2018  % of 
total  Difference  
Budget vs 
Expenditure  
1 Facilitating Negotiations  8,000  4% 9,611  5% -1,611  
2 Administering Agreed WTO 
Rules  44,000  22% 44,751  23% -751 
3 Monitoring Trade Policies  28,000  14% 28,305  14% -305 
4 Settling Disputes  44,000  22% 38,326  20% 5,674  
5 Capacity building  42,000  21% 41,948  21% 52 
6 Assisting Accessions  5,000  3% 4,411  2% 589 
7 Conducting Research  14,000  7% 14,911  8% -911 
8 Reaching out  12,204  6% 14,213  7% -2,009  
Grand Total  197,204  100%  196,475  100%  729 
 
3.1  Facilitating Negotiations  
3.2.  This Output Chapter includes various committees and negotiating groups related to the Doha 
Development Agenda negotiations such as the Trade Negotiations Committee and other negotiating 
groups.  
3.3.  In 2018, the expenditure was slightly higher than projected. However, it was at a comparable 
level to the expendit ure in 2017.  
3.2  Administering Agreed WTO Rules  
3.4.  This Output Chapter includes the Ministerial Conference, all Committees related to the 
General  Council and its Subsidiary Bodies, Committees related to the Council for Trade in Goods and 
its Subsidiary Bodies, Co mmittees related to the Council for Trade in Services and its Bodies, and 
the Council for Trade -related Aspects of Intellectual Property. The realized expenditure in 2018 was 
in line with the projection.  
3.3  Monitoring Trade Policies  
3.5.  This Output Chapter mainly  comprises of all expenditure related to the WTO Trade Policy 
Review Body, Trade Policy Reviews and Trade Policy Monitoring. The expenditure for 201 8 was in 
line with the projection.  
3.4  Settling Disputes  
3.6.  This Output Chapter includes all activities related to the Dispute Settlement Body, as well as 
pre-dispute activities, panels, appeals and arbitrations. In 2017, the projected budget was increased 
from CHF 35 million to CHF 44 million for this output. Fina lly, the actual expenditure for 201 8 
amounted to CHF 38 million, which is CHF 1 million lower than the expenditure in 2017. The reason 
for that is mainly that the number of active panels was similar in 2018 and 2017 but the timetables 
for the panels provid ed for fewer meetings involving panellists in 2018.  WT/BFA/W/ 482 
 
- 30 - 
 
 
  3.5  Capacity Building  
3.7.  This Output Chapter comprises all activity related to capacity building courses and training; the 
Aid for Trade work programme; and the contribution to the International Trade Centre (I TC). The 
actual expenditure for 201 8 was in line with the projection.  
3.6  Assisting Accessions  
3.8.  This Output Chapter includes all activities related to the support of accessions. The actual 
expenditure for 201 8 was at the level of the projection . 
3.7  Conducting Research  
3.9.  This Output Chapter relates to the WTO's publications such as the World Trade Report o r the 
WTO Annual Report , research reports and papers , as well as the management of WTO publications. 
The realised expenditure for 201 8 was in line with the projection  and by CHF 1.5 million higher than 
in 2017.  
3.8  Reaching Out  
3.10.   This Output Chapter includes all  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 , 
the Open Day , and work done with other international organizations.  The budget for Outreach has 
been revised from CHF 14 .6 to 12 .2 million in 2017. However, t he actual expenditure  was in line 
with the initial budget of CHF 14 .6 million and was by CHF 1 million lower than the expenditure in 
2017. The objective was to reduce this type of expenditure and to shift resources to other outputs.  
  WT/BFA/W/ 482 
 
- 31 - 
 
 
  4  PERFORMANCE OF TRUST FUNDS4 
4.1.  This part describes the activities performed in 201 8 using extra -budgetary funds , which are 
managed through Trust Funds . The flagship of the WTO's Trust Funds is the  Global Trust Fund. While 
there are several other Trust Funds  that address specific purposes, it is the policy of the WTO to 
encourage the consolid ation of most T rade-related Technical Assistance under  the Global Trust Fund . 
4.1  Global Trust Fund  
Figure 15 Receipts  and expenditures of the Global Trust Fund from 2010 -2018 
 
 
 
Table 20 Global Trust Fun d - Financial Report Summary  
Financial Report Summary ('000 CHF)  2018  2017  
Funds as at 1  January  13,600  16,027  
Transfer from TEVAL  - 108 
Contributions received  7,375  6,169  
Interest on investments  -21 -25 
Total funds  20,954  22,279  
Contribution reimbursement to Netherlands  - -299 
Total expenditures  -8,345  -8,380  
Balance as at 31  December  12,609  13,600  
 
4.2.  The Global Trust Fund was established in December  2001 to finance technical assistance 
programmes and training activities for developing and least -developed countries as well as 
economies in transition. One of the main purposes for creating a core Trust Fund was to consolidate 
the numerous extra -budgetary funds in a single Trust Fund, so as to provide a stable financial basis 
for the delivery of the Technical Assistance Plan adopted by Members. The activities su pported by 
the Global Trust Fund are intended to: enhance institutional and human capacity in beneficiary 
countries; address trade policy issues and concerns; facilitate fuller participation of beneficiaries in 
the Multilateral Trading System; and encourag e effective participation in the negotiations.  
4.3.  The WTO's technical assistance and training programmes are primarily geared towards 
Government officials from WTO Members and acceding countries , who  are directly responsible for 
WTO-related issues. In additio n, academic and outreach programmes are geared towards a  
secondary broader audience, including academics, civil society, parliamentarians and private sector 
representatives . 
4.4.  Trade -related Technical Assistance and training activities are carried out in acco rdance with a 
Biennial Technical Assistance and Training Plan ("the TA Plan"), which derives funding from both the 
regular budget and the Global Trust Fund . 
                                                
4 Additional and complementary information on Trust Fund is provided by the report WT/COMDT/W/245  
 - 5.0 10.0 15.0 20.0 25.0 30.0
2010 2011 2012 2013 2014 2015 2016 2017 2018Millions CHFGlobal Trust Fund
Expenditures
Contributions received &
Transfers
Available year-end balance
Technical Assistance Plan - TargetWT/BFA/W/ 482 
 
- 32 - 
 
 
  4.5.  The TA Plan identifies the objectives and types of activities to be delivered by the Secretariat 
for the period concerned. The TA Plan normally foresees a number of activities at the global and 
regional levels, to be delivered within a given year. The TA Plan also anticipates additional activities 
at the national level on the basis of specific requests by Members.  
4.6.  The TA Plans are structured  around a progressive learning strategy designed in such a way as 
to: 
a. ensure that the beneficiaries are gradually moving to higher levels of learning;  
 
b. contribute to sustainable human and institutional capacity -buildi ng; 
 
c. strengthen inter -linkages among programmes;  
 
d. build synergies across subject areas; and  
 
e. assure coherence and cost -effectiveness in the delivery of TRTA.  
4.7.  The WTO cooperates and forms partnerships when possible with relevant international bodies 
and agencies in order to deliver the TRTA efficiently, bearing in mind the specific competencies of 
the partner organizations.  
4.8.  The Trade -related Technical Activity products  can be grouped broadly into five categories:  
a. E-learning/Self Training Courses  –Enabled through I nformation Technology. This approach 
is focused particularly on introductory and intermediate level training for both generalists 
and specialists.  
b. General WTO -related technical assistance and training  – Training activities for Government 
officials with a broad overall WTO responsibility and a general knowledge of the Multilateral 
Trading System. The main purpose is to initiate officials in the rules and functioning of the 
WTO and/or to raise the general level of knowledge and provide opportunities for them to 
enhance their skills.  
c. Specialized and advanced technical assistance training  – National/regional seminars and 
workshops as well as  specialized courses. The focus is on providing in -depth training and 
enhancing skills that have a direct practical value in implementing WTO Agreements.  
d. Academic support for training and capacity building  – Activities that focus on building 
partnerships w ith trade policy -related academic community members in Member countries 
(e.g. workshops for university professors on WTO matters, support programmes for 
doctoral students, programme for visiting academics, research collaboration and 
document dissemination for universities  etc.). 
e. Trainee programmes and internships  – These provide an opportunity for junior officials to 
get first hand exposure to the functioning of the Multilateral Trading System and/or to 
provide support to the respective beneficiaries' regio nal secretariats.  
4.9.  In addition to the direct costs of the various training activities, some staff costs related to the 
delivery of the technical assistance activities are funded from the Global Trust Fund . 
4.10.   TRTA programmes implemented under the Global Trust Fund in 201 8 were based on the 
Biennial Technical Assistance and Training Plan 201 8-2019.  
4.11.   Main activities implemented in 201 8, many of which were undertaken in partnership with 
other agencies and  bodies, include  general  and specialized  WTO-related technic al assistance 
training , trainee programmes and internships  and ad hoc programmes such as WTO Chairs 
Programme.  
 WT/BFA/W/ 482 
 
- 33 - 
 
 
  4.12.   The number of E-Learning participants rose from 11,491 in 2017 to 11,769 in 2018.  
4.13.   The WTO E -Learning programme offered 82 online courses in English, French and Spanish. 
The number of Chat Sessions was 105 in 2018 and around 214 multimedia elements were developed.  
In 2018, due to resource constraints and priorities given to the development of training material and 
implementation of the new plat form, no News Forum were developed. In addition to E -Lectures, the 
E-Learning Unit continued to develop the use of social media for updates on trade -related issues, 
interactivity and outreach.  
4.14.   The E -Learning Unit continued to facilitate the implementation of blended learning.  Tailored 
virtual classrooms were offered and hosted in the E -Campus website for face -to-face activities.  
4.15.   The E -Learning programme is active on Twitter, Facebook, LinkedIn , Instagram  and YouTube. 
The training material is also made available for self -study, upon request. Compared to 2017, the 
number of requests decreased by 8% and amounted to 4,915 in 2018 (English: 3,182; Spanish: 
1,180; French: 553). E -learning courses are currently also available through a dedicated mobile App. 
In 2018 there were 305 course downloads through this innovative tool . 
4.16.   Excellent results were achieved in the WTO E -Learning field in 2018 The statistics are as 
follows : 
a. The number of successful participants in creased by 479, compared to 201 7. 
b. About 6 9% of participants successfully completed a course in line with the 6 6% obtained 
in 201 7.  
c. The share of successful participants that obtained a certificate with distinction was 38%, 
and their number rose by 455 participants compared to 201 7.  
d. 52% out of the 11, 769 participants were men (6, 141); 48% were women (5, 628). 
4.17.   The course "The Agriculture Xpress" - finalized in December 2017 – was offered in the 2018 
programme , in English, Spanish and French . This course is ba sed on learning by doing (exercises 
only).  
4.18.   Five new interactive courses were finalized and offered  in English:  
• "Trade Facilitation Agreement";  
• "CITES and the WTO - Enhancing Cooperation for Sustainable Development";  
• "Agriculture Information Management System";  
• "Documents Online E -Subscriptions"; and  
• "Mainstreaming Trade - The Fundamentals" (first part).  
4.19.   The content of two courses " Accession t o the WTO" and " Trade and Environment" was revised 
through a wide variety of multimedia elements such as interactive exercises, audio and animation.  
4.20.   Information on the Eleventh Ministerial Conference was updated in the courses "Introduction 
to the WTO" an d "The Multilateral Trade Agreements" in English, French and Spanish.  
4.21.   A new cloud -based E -Learning website was designed and parameterized. All the WTO E -
Learning courses (training material, pre -and post -tests and additional documents) were transferred 
to this new platform in 2018.  WT/BFA/W/ 482 
 
- 34 - 
 
 
  Table 21 Number of Participants of E-Learning C ourse s Per Year  
Year Number of participants  
2011 2,890  
2012 3,023  
2013 5,645  
2014 7,590  
2015 7,523  
2016 10,279  
2017 11,491  
2018 11,769  
 
4.22.   Furthermore, 3 ,604 participants came from least developed countries, 177 more than in 2017,  
–and represented 31% of total participants. Africa remained the region with the highest participation 
with 4 ,860 participants (3 ,840 in 2017).  
4.2  The French Irish Internship Programme  
4.23.   The French Irish Interns hip Programme 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 Missions in participating more 
active ly in the daily activities at the WTO.  
4.24.   The Interns work in their own country's Mission in Geneva for a period of up to ten months 
and represent their respective country on selected WTO Committees. This hand s-on approach is 
designed to provide them with exp osure to the activities taking place at the WTO.  
4.25.   The programme is open to nationals of developing countries and LDCs as well as economies 
in transition. The required qualifications include: (i) a degree in economics, trade and/or law at the 
post-graduate l evel; (ii) mastery of one of the WTO working languages and preferably a good 
knowledge of another; (iii) work experience in the national administration in a trade -related area; 
(iv) good drafting skills; and (v) operational familiarity with standard softwa re packages.  
4.26.   Interns are selected by the ITTC and the Human Resources Division of the WTO, in 
consultation with the Mission concerned. Special consideration is given to those candidates who will 
be using their experience upon returning to their country. LD Cs with very few staff  members  posted 
to Geneva Missions are given preference.  
4.27.   The beneficiary Mission establishes a general description of the assignment in advance. A 
more detailed programme of work for each Intern is prepared by the Permanent Representa tive of 
the Mission in Geneva, after the candidate has been selected.  
4.28.   The general duties might include:  
a. assistance in collection, analysis, interpretation and organization of material of interest to 
the Mission;  
 
b. assistance in the preparation for meetings of WTO bodies, including attendance and 
follow -up of such meetings;  
 
c. assistance in the preparation of reports, documents and communications of an economic 
and/or legal nature , related to the WTO;  and 
 
d. assistance in other tasks undertaken by the Mi ssion.  
 
4.29.   The evaluation of the Intern's work by the Mission takes place at mid -term and at the end of 
the assignment and is shared with the WTO.  WT/BFA/W/ 482 
 
- 35 - 
 
 
  4.30.   In 201 8, this Trust Fund financed the costs related to 1 6 Interns from the following countries: 
Angola, Botswana , Chad, Congo, Ecuador, Gabon, Georgia, Haiti, Lao PDR, Nepal, Pakistan, 
Tanzania, Togo, Yemen, Zimbabwe and Tajikistan.  
Table 22 The French Irish Internship Programm e - Financial Report Summary  
Expressed in ('000 CHF)  2018  2017  
Funds as at 1  January  1,013  950 
Contributions received  1,151  847 
Interest  -1 -1 
Total funds  2,163  1,796  
Total expenditures  -901 -783 
Balance as at 31  December  1,262  1,013  
 
4.3  Netherlands Trainee Programme  
4.31.   The Netherlands Trainee Programme was launched on 1  April 2005. Its most recent extension 
was from 2018 to 2022.  
4.32.   The objective of the Programme is to generate tangible, measurable and lasting capacity 
building in areas related to trade policy in LDCs, low income countries and comparable poor a nd 
vulnerable economies to assist in their economic and social development.  
4.33.   The Programme provides junior public officials with the opportunity to learn about matters 
dealt with in the WTO. The target group of candidates for the Programme are junior profes sionals 
from trade and development -related ministries, private sector organizations, university graduates, 
participants in trade policy courses and other suitable candidates with adequate knowledge of the 
WTO.  
4.34.   Trainees spend a total period of up to ten mon ths with the WTO and are expected to complete 
well-defined tasks in that period which are relevant for the beneficiary country in terms of capacity 
building and/or in ongoing negotiations. Examples include:  
a. undertaking an assessment of needs for identifyin g priorities for technical assistance and 
training, based on the guidelines established to that effect;  
 
b. fulfilling outstanding notification obligations and assisting in the implementation of 
commitments for recently acceded Members;  
 
c. assisting acceding countries in this process;  
 
d. assisting in the preparation for trade policy reviews;  
 
e. undertaking other tasks, which would contribute to a better and fuller participation of the 
beneficiary country in the Multilateral Trading System;  
 
f. assisting WTO Divisions with specific tasks.  
4.35.   The candidates are selected by the Secretariat, from applications and nominations proposed 
by the beneficiary countries.  
4.36.   Following the completion of their assignments, trainees are required to provide an evaluation 
report wit h detailed information o n the tasks accomplished and an assessment of their relevance for 
the candidate and the beneficiary country.  
4.37.   The total number of trainees who have benefited from the Programme since its launch in 
April 2005 reached 176 at the end of  2018. WT/BFA/W/ 482 
 
- 36 - 
 
 
  Table 23 Netherlands Trainee Programme – Financial Report Summary  
Expressed in ('000 CHF)  2018  2017  
Funds as at 1  January  107 184 
Contributions received  875 875 
Interest  -1 -1 
Total funds  981 1,058  
Total expenditures  - -951 
Balance as at 31  December  981 107 
 
4.4  Trade Facilitation Agreement Facility  (TTFAF)  
4.38.   The purpose of the TTFAF is to help developing countries and LDCs  to implement the Trade 
Facilitation Agreement.  
4.39.   The objective is to assist developing countries and LDCs to identify sources of existing capacity 
building assistance, in order to implement the Trade Facilitation Agreement. The facility will 
complement exis ting support efforts and enhance their effectiveness . 
Table 24 Trade Facilitation Agreement Facility – Financial Report Summary  
Expressed in ('000 CHF)  2018  2017  
Funds as at 1  January  6,582  5,962  
Contributions received  347 1,217  
Interest  -11 -11 
Total funds  6,918  7,168  
Total expenditures  -690 -586 
Balance as at 31  December  6,228  6,582  
 
4.5  Ministerial Conference  – Participation of LDCs  
4.40.   Since the first WTO Ministerial Conference held in Singapore in 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, compr ised of one Minister and two high 
level Officials, are covered.  
Table 25 Ministerial Conference  Trust Fund for the Participation of LDCs – Financial 
Report Summary  
Expressed in ('000 CHF)  2018  2017  
Funds as at 1  January  357 90 
Reimbursement from M inisterial Conference  -28 - 
Contributions received  - 780 
Contributions from TEVAL  - 48 
Interest  -1 - 
Monetary Revaluation  10 - 
Total funds  338 918 
Total expenditures  - -561 
Balance as at 31  December  338 357 
4.41.   At the end of a given Ministerial Conference, the remaining balances in favour of the various 
donors are usually carried forward and added to the new contributions to be utilized for the same 
purpose in the subsequent Ministerial Conference, unless the don or requests a reimbursement.   
4.42.   In 2018 , New Zealand and the European Union requested and received a pro -quota 
reimbursement of the unspent funds . WT/BFA/W/ 482 
 
- 37 - 
 
 
  4.6  Standards and Trade Development Facility  
4.43.   The Standards and Trade Development Facility (STDF) is a global partnership and Trust Fund 
established by the Food and Agriculture Organization (FAO), the World Organization for Animal 
Health (OIE), the World Bank, the World Health Organization (WHO) and the WTO . The STDF  
supports developing countries in building their  capacity to implement international Sanitary and 
Phytosanitary Standards (SPS) guidelines and recommendations as a means to improve their 
human, animal and plant health status and ability to gain and maintain access to markets. Other 
organizations involve d in SPS -related technical cooperation, donors contributing to the STDF and 
developing country experts participate actively in its work.5 The STDF is managed by the WTO.  
4.44.   In line with the STDF's medium -term strategy, various efforts were undertaken to promo te 
collaboration among STDF partners and further strengthen the STDF as a knowledge platform and 
reference point for the exchange of information. The Secretariat participated in a number of 
conferences, training workshops and other information sessions to promote coherence and synergies 
in the design of SPS projects.  
Table 26 Standards and Trade Development Facility – Financial Report Summary  
Expressed in ('000 CHF)  2018  2017  
Funds as at 1  January  7,669  7,535  
Contributions received  6,602  4,678  
Interest  -12 -16 
Total funds  14,259  12,197  
Expenditures  -6,040  -4,528  
Balance as at 31  December  8,219  7,669  
 
4.7  China LDCs and Accessions Programme  
4.45.   The Chinas LDCs and Accessions Programme  was established in July 2011. Its aim is to help 
strengthen LDC Members' participation in the WTO activities and to help acceding LDCs to improve 
their capacity for accession.  
4.46.   The Government of the People's Republic of China contributed approximately CHF 4 94,000 to 
this Trust Fund in 201 8. 
4.47.   In 2018 seven  internships were made available, compared  to ten in 201 7. 
Table 27 China LDCs and Accessions Programme – Financial  Report  Summary  
Expressed in ('000 CHF)  2018  2017  
Funds as at 1 January  399 560 
Contributions received  494 473 
Interest  -1 -1 
Total funds  892 1032  
Total expenditures  -321 -633 
Balance as at 31  December  571 399 
 
4.8  China Development Cooperation Research Fund  
4.48.   The Government of the People's Republic of China and the WTO set up this Trust Fund to 
strengthen collaboration in research and research -related technical assistance and capacity building 
for trade.  
                                                
5 Further information on the STDF and its activities, background documents, etc. is available on the 
STDF website ( http://www.standardsfacility.org/ ). WT/BFA/W/ 482 
 
- 38 - 
 
 
  Table 28 China Development Cooperation Research Fund – Financial Report Summary  
Expressed in ('000 CHF)  2018  2017  
Funds as at 1  January  285 0 
Contributions received  - 520 
Interest  - - 
Total funds  285 520 
Total expenditures  -89 -235 
Balance as at 31 December  196 285 
 
4.9  Enhanced Integrated Framework Executive Secretariat  
4.49.   The EIF partnership, composed of 51 countries, 24 donors and 8 partner agencies, works 
closely with governments, development organizations and civil society to  assist Least Developed 
Countries (LDCs) use trade as an engine for development and poverty reduction.  EIF works with 
partner countries to harness trade for ec onomic growth,  poverty reduction and sustainable 
development. We ensure domestic  actions are taken to make trade work for economic prosperity, 
poverty  reduction, food security, stability and peace.  
4.50.   Its Executive Secretariat was established in 2008 and is housed at the WTO. The International 
Bank for Reconstruction and Development, the International Monetary Fund, the International Trade 
Center , the United Nations Conference on Trade and Development, the United Nations Development 
Programme and the World Trade Organization (collectively "EIF  Agencies"), EIF Least -Developed 
Countries ("EIF LDCs") and all donors , constitute the partners of the EIF. The EIF is regarded as one 
of the most successful initia tives under the overall umbrella of Aid for Trade.  
4.51.   Funding for the EIF is channelled through two sources: the multilateral EIF Trust Fund 
managed by the United Nations Office for Project Services (UNOPS) and bilateral/regional donor 
support made directly t o the beneficiary countries. The EIF Trust Fund makes an annual allocation 
to the WTO to cover the operating expenditures of the EIF Executive Secretariat.  
Table 29 Enhanced Integrated Framework Executive Secretariat – Financial Report 
Summary  
Expressed in ('000 CHF)  2018  2017  
Funds as at 1  January  477 851 
Contributions received  4,339  3,731  
Interest  -5 -5 
Total funds  4,811  4,577  
Total expenditures  -4,397  -4,100  
Balance as at 31  December  414 477 
 
4.10  Data Set on Trade in Services by Sector and Mode of Supply  
4.52.   The Trust Fund was created in October 2016 by an agreement between the EU Commission 
and the WTO to finance a project aimed at analysing and providing data on goods, services and 
intellectual property by mode of supply , to trade analysts.  
4.53.   The project further aims to contribute to the improvement of the Global Trade Analyst Project 
(GTAP) database used for trade analysis, thus enhancing transparency and the quality of trade 
analysis in the services domain.  
 
 
 WT/BFA/W/ 482 
 
- 39 - 
 
 
  Table 30 Data Set on Trade in Services - Financial Report Summary  
Financial Report Summary ('000 CHF)  2018  2017  
Funds as at 1  January  97 108 
Contributions received from the European Union  - 94 
Interest  - - 
Total funds  97 202 
Total expenditures  -79 -104 
Balance as at 31  December  18 98 
 
4.11  Natural Disaster and Trade  
4.54.   The Natural Disasters and Trade Fund was established in 2018. The fund seek s to highlight 
issues that could be further researched on trade and disasters. This work suggests that there is 
significant scope for more in -depth research on this issue, for example through case studies on 
disaster -affected Members, and in the related are as of resilience and recovery . 
4.55.   Research will be organize d research  around three main topics: the role that trade can play in 
relation to disaster resilience, disaster response and disaster recovery.  
4.56.   To launch this research initiative, the WTO hosted a high -level information symposium in 
April 2018. The purpose of the symposium was to:  
• Discuss the nexus between natural disasters and the multilateral trading system . 
• Highlight the impact on Members' Trade and the multilateral trading system . 
• Outline the trade dimension to disaster response, recovery  and resilience.  
4.57.   Following the symposium, a multi -stakeholder contact group , including the WTO, disaster 
affected countries and other interested organizations was established. The multi -stakeholder contact 
group needed to agree on terms of reference, review the initial results of the research, and set an 
agenda for a final conference to discuss findings.  
4.58.   Research for the natural disasters and trade project was undertaken in Dominica, Saint -Lucia 
and Barbados. Me etings were organized with Government, private sector, civil society and regional 
organizations.  
Table 31 Natural Disaster and Trade  - Financial Report Summary  
Expressed in ('000 CHF)  2018  
Funds as at 1  January  - 
Contributions received  110 
Interest  - 
Total funds  110 
Total expenditures  -58 
Balance as at 31  December  52 
 
4.12  Independent Entity – Pre-Shipment Inspection – Deposits  
4.59.   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.  
4.60.   Deposi t 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, Cotecn a Inspection Limited, 
Inspectorate Griffith Limited, Inchcape Testing Services International Limited.  WT/BFA/W/ 482 
 
- 40 - 
 
 
  4.61.   This Trust Fund has never been drawn -down since its establishment in 1995 and is a 
subsidiary of the Committee on Trade in Goods.  
Table 32 Independent Entity – Pre-Shipment Inspection – Deposits – Financial Report 
Summary  
Expressed in (thousands of CHF)  2018 2017 
Funds as at 1  January  88 88 
Interest  - - 
Total funds  88 88 
Total expenditures  - - 
Balance as at 31 December  88 88 
4.13  Programme Support Fund  
4.62.   Programme Support Costs are charged at a rate of 13% of the direct costs incurred by Trust 
Funds administered by the WTO , and, posted to the Programme Support Fund (PSF).  
4.63.   The WTO may allocate a portion of the Programme Support Costs to Trust Funds that it 
manages with implementing partners.  
4.64.   Overhead fees are collected and calculated as of the 31st December of each year.  
4.65.   10% of the expenses in the PSF are statutorily credit ed back to the WTO regular budget to 
cover some overheads (e.g. utilities) for services used in  the delivery of activities financed from the 
extra-budgetary funds.  
Table 33 Programme Support Fund – Financial Report Summary  
Financial  Report Summary ('000 CHF)  2018  2017  
Funds as at 1  January  1,024  996 
Overhead fees collected  2,402  2,395  
Overheads – Shared with Partners  -397 -212 
Total funds  3,029  3,179  
Total expenditures  -2,090  -2,153 
Balance as at 31  December  939 1,024  
 
 WT/BFA/W/ 482 
 
- 41 - 
 
 
  5  FINANCIAL STATEMENTS  
5.1  Management Letter of Representation  
5.1.  The management of the WTO Secretariat is responsible for the annual financial statements of 
the WTO and all other information presented therewith. These financial statements are prepared in 
accordance with the World Trade Organization's (hereinafter "WTO")  Financial Regulations, Financial 
Rules and International Public Sector Accounting Standards. The financial disclosures form part of 
the financial statements and are intended to fairly present the WTO's financial results in a manner 
that is complete and un derstandable.  
5.2.  The Management of the WTO is responsible for establishing and maintaining adequate internal 
controls over financial reporting so as to provide reasonable assurance regarding the reliability of 
these financial statements. This includes policie s and procedures that: enable the maintenance of 
records that accurately and fairly reflect the transactions of the WTO; provide reasonable assurance 
that transactions are authorized and recorded in compliance with the WTO's Financial Regulations 
and Finan cial Rules; and provide reasonable assurance regarding the prevention or timely detection 
of unauthorized acquisition, use or disposal of the WTO's assets. However, due to the inherent 
limitations of internal controls, these controls may not prevent or det ect all misstatements.  
5.3.  Based on the above, 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 201 8 and financial 
position as at 3 1 December 201 8. These stat ements have been audited by External Auditors 
appointed by the WTO General Council. The report of the External Auditors is contained in the 
following pages.  
  
 
 
 
 
 
 
 
  
__________________________________  
 __________________________________  
 
 
 
 Roberto Azevêdo  Francesco Perlini  
 Director -General  Head of Financial Reporting , Chartered Accountant  
  Administration and General  
  Services Division  WT/BFA/W/ 482 
 
- 42 - 
 
 
  5.2  Opinion of the external auditor  
BUNDESRECHNUNGSHOF -SUPREME AUDIT  
INSTITUTION OF GERMANY  
 
 June 2019 
 
 
To Mr  Roberto Azevêdo,  
Director -General of the World Trade Organization  
 
 
Dear Sir,  
 
I have the honour to transmit the financial statements of the World Trade Organization (WTO) for 
the financial year ended 31 December 201 8, which were submitted to me in accordance with WTO 's 
Financial Regulations. I have audited these statements and have expressed my opinion thereon.  
 
Further, in accordance with the Organization 's Financial Rules a nd Regulations, I have the honour to 
present my report on the accounts of the WTO for the year ended 31 December 201 8. 
 
Please accept, Sir, the assurance of my highest consideration.  
 
Identification of the financial statements  
 
I have audited the financial statements of the World Trade Organization (hereinafter "WTO") for the 
financial year ended 31 December 2017, comprising : 
• the Statement of Financial Position,  
• the Statement of Financ ial Performance,  
• the Statement of Cash Flow,  
• the Statement of the Changes in Net Assets,  
• supporting notes and annexes to the Financial Statements.   
 
Basis of Opinion  
 
I conducted my audit in conformity with International Standards on Auditing (ISAs) as adopted and 
expanded by the International Organization of Supreme Audit Institutions (INTOSAI) and issued as 
International Standards for Supreme Audit Institutions (ISSAIs). These standards require that I plan 
and perform the audit to obtain reasonable ass urance about whether the financial statements are 
free from material misstatement.  
I am independent of the WTO in accordance with the ethical requirements that are relevant to my 
audit of the financial statements and I have fulfilled all other ethical res ponsibilities in accordance 
with these requirements.  
I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for 
my opinion.  
 
Responsibilities  of Management  
 
The Management of WTO is responsible for the preparati on and fair presentation of the financial 
statements in accordance with IPSAS and for such internal control as Management determines is 
necessary to enable the preparation of financial statements that are free from material 
misstatement, whether due to fra ud or error.  
In preparing the financial statements, the Management is responsible for assessing WTO 's ability to 
continue as a going concern, disclosing, as applicable, matters related to going concern and using 
the going concern basis of accounting unless  Management either intends to liquidate WTO or to 
cease operations, or has no realistic alternative but to do so.  
Those charged with governance are responsible for overseeing the WTO 's financial reporting process.  
 
 
 
 WT/BFA/W/ 482 
 
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  Auditor's responsibility  
 
My objectives are to obtain reasonable assurance about whether the financial statements as a whole 
are free from material misstatements, whether due to fraud or error, and to issue an auditor 's report 
that includes my opinion. Reasonable as surance is a high level of assurance, but is not a guarantee 
that an audit conducted in accordance with ISAs will always detect each and every material 
misstatement. Misstatements can arise from fraud or error and are considered material if, 
individually o r in the aggregate, they could reasonably be expected to influence the economic 
decisions of users taken on the basis of these financial statements.  
 
As part of an audit in accordance with ISAs, I exercise professional judgement and maintain 
professional skepticism  throughout the audit.  
I also:  
• identify and assess the risks of material misstatement of the financial statements, whether 
due to fraud or error, design and perform audit procedures responsive to those risks, and 
obtain audit evidence that is su fficient and appropriate to provide a basis for our opinion. 
The risk of not detecting a material misstatement resulting from fraud is higher than for one 
resulting from error, as fraud may involve collusion, forgery, intentional omissions, 
misrepresentati ons, or the override of internal control;  
• obtain an understanding of internal control relevant to the audit in order to design audit 
procedures that are appropriate in the circumstances, but not for the purpose of expressing 
an opinion on the effectiveness  of WTO 's internal control;  
• evaluate the appropriateness of underlying accounting policies and the reasonableness of 
accounting estimates and related disclosures made by management;  
• conclude on the appropriateness of Management 's use of the going concern basis of 
accounting and, based on the audit evidence obtained, whether a material uncertainty exists 
related to events or conditions that may cast significant doubt on the WTO 's ability to 
continue as a going concern. If we conclude that a material  uncertainty exists, we are 
required to draw attention in our auditor 's report to the related disclosures in the financial 
statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions 
are based on the audit evidence obtained up  to the date of our auditor 's report. However, 
future events or conditions may cause WTO  to cease to continue as a going concern;  
• Evaluate the overall presentation, structure and content of the financial statements, 
including the disclosures, and whether t he financial statements represent the underlying 
transactions and events in a manner that achieves fair presentation.  
My team communicated with those charged with governance regarding, among other matters, the 
planned scope and timing of the audit and sig nificant audit findings, including any significant 
deficiencies in internal control that we identify during our audit.  
 
Audit Opinion  
 
As a result of my audit, I am of the opinion that the financial statements present fairly, in all material 
respects, the  financial position as at 31 December 201 8, that they have been prepared in accordance 
with International Public  Sector Accounting Standards (IPSAS) and WTO 's stated accounting policies, 
and that the transactions have been in accordance with the Financial Regulations.  
 
I have placed an unqualified opinion on WTO 's financial statements for 201 8. 
 
Report Reference  
 
I have also prepared a long -form report on the WTO 's financial statements.  
 
 
 
 
 Kay Scheller  
 President of the Bundesrechnungsh of 
 Supreme Audit Institution of Germany  
 External Auditor  WT/BFA/W/ 482 
 
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  5.3  WTO Financial Statements6 
Table 34 Statement of Financial Position  
Statement of Financial Position        
Expressed in '000 CHF  Notes  31/12/2018  31/12/2017  
ASSETS      
Current assets      
Cash and cash equivalents  4 130,377  115,098  
Receivables from Members  5 15,964  23,366  
Receivables from Observers  5 646 590 
Inventory  6 320 393 
Other receivables  7 3,839  3,522  
Advances and prepayments  8 5,755  4,766  
Total Current Assets    156,900  147,735  
      
Non-current assets      
Buildings  9 118,348  121,347  
Equipment  9 9,836  11,711  
Intangible assets  10 212 409 
WTO Pension Plan assets  14 564,847  595,921  
Total non -current assets    693,244  729,388  
      
Total assets    850,144  877,123  
      
LIABILITIES      
Current liabilities      
Payables  11 4,094  4,801  
Accruals  11 10,451  6,600  
Assessed contributions received in advance  12 4,891  9,372  
Voluntary Contributions refundable to donors  13 34,191  32,916  
Short -term employee benefits  14 11,683  12,122  
Total current liabilities    65,310  65,811  
      
Non-current liabilities      
Loan  15 52,800  54,000  
Pension benefits  14 1,072,042  1,034,918  
After Service Health Insurance benefits  14 283,674  228,938  
Other Long -term employee benefits  14 8,878  8,315  
Total non -current liabilities    1,417,394  1,326,171  
    
Total liabilities    1,482,704  1,391,982  
      
Net assets/equity    -632,560  -514,860  
      
NET ASSETS/EQUITY      
Working Capital Fund  16 62,910  10,885  
Actuarial gain/(loss)  14 155,559  246,687  
Accumulated surplus/(deficit)    -917,567  -837,337  
Provision for right of use – Centre William Rappard  9 57,980  58,586  
Reserves  17 22,850  15,844  
Extra Budgetary Fund Allocation  17 -14,291  -9,525  
Total net assets/equity    -632,560  -514,860  
                                                
6 All balances are p resented in thousands of Swiss Francs. As  a result , details may not add to totals due 
to rounding . WT/BFA/W/ 482 
 
- 45 - 
 
 
  Table 35 Statement of Financial Performance  
Statement of Financial Performance        
        
Expressed in '000 CHF  Notes  31/12/2018  31/12/2017  
REVENUE        
Contributions assessed on Members  18 195,500  195,500  
Contributions of Observers  18 616 588 
Voluntary contributions on trust funds  18 21,048  20,895  
Revenue from publications  18 461 545 
Other revenue  18 1,301  1,164  
WTO Pension Plan revenues  18 3,351  2,406  
        
Total revenue    222,277  221,098  
        
EXPENSES        
Staff Expenditure  19 -133,243  -134,819  
Actuarial cost for ASHI  19 -11,639  -11,058  
Actuarial  cost for pension  19 -23,517  -22,763  
Temporary Assistance  19 -23,340  -24,450  
Supplies and other General Service Costs  19 -15,473  -15,436  
Travel & Hospitality  19 -13,557  -15,124  
Implementing Partners  19 -5,255  -4,371  
Contribution to ITC  19 -18,243  -18,775  
Ministerial Conference Operating Fund (variation)  19 -596 1,022  
Appellate Body Operation Fund (variation)  19 -583 -270 
Depreciation  19 -5,684  -5,603  
Provision for contribution in arrears  19 690 -499 
Depreciation of provision for right of use - CWR 19 606 606 
Finance Costs  19 -580 -292 
Loss on foreign exchange transactions  19 -67 -214 
        
Total expenses    -250,482  -252,044  
        
Surplus/(deficit) for the period    -28,205  -30,946  
 
Table 36 Statement of Changes in Net Assets/Equity  
WORLD TRADE ORGANIZATION  
AS AT DECEMBER 31, 2017 (CHF)  
Expressed in '000 CHF  WCF Actuarial 
loss Ac. Surplus/ 
Deficit  right of 
use Budget Fund 
Allocation to 
BRF & SRA   Reserves  Total Net 
Assets/ 
Equity  
        
Balance at 
31/12/2017  10,885  246,687  -837,337  58,586  -9,525  15,844  -514,860  
Increase in the Working 
Capital Fund 52,025  -   -52,025  -   -   -   -   
Actuarial loss  -   -91,128  -   -   -   -   -91,128  
Recognition of right of 
use of surface  -   -   -   -606 - - -606 
Building Renovation 
Fund and Special 
reserve account  budget 
allocation  -   -   -   -   -4,766  -   -4,766  
Surplus/ (Deficit )  -   -   -28,205  -   -   -   -28,205  
Reserves  -   -   -   -   -   7,006  7,006  
Balance at 
31/12/2018  62,910  155,559  -917,567  57,980  -14,291  22,850  -632,560  WT/BFA/W/ 482 
 
- 46 - 
 
 
   
Table 37 Cash Flow Statement (Indirect method)  
WORLD TRADE ORGANIZATION    
AS AT DECEMBER 31, 2017 (Expressed in Thousands of CHF)  2018  2017  
Cash Flows from Operating Activities    
Surplus/Deficit from ordinary activities  -28,205  -30,946  
Depreciation and amortisation  5,684  5,603  
Right of use - Centre William Rappard  -606 -606 
Provision for contribution in arrears  -690 499 
(Increase) / decrease in receivables from Members and Observers  8,036  -17,118  
(Increase) / decrease in inventories  73 49 
(Increase) / decrease in other receivables  -317 -733 
(Increase) / decrease in pension assets  31,073  -60,392  
(Increase) / decrease in advances and prepayments  -989 615 
Increase / (decrease) in payables  -707 2,047  
Increase / (decrease) in accruals  3,851  1,501  
Increase / (decrease) in contributions received in advance  -4,481  -7,411  
Increase / (decrease) in voluntary contributions refundable to 
donors  1,275  -1,586  
Increase / (decrease) in employee benefits  91,983  56,146  
Actuarial Gain / (Loss)  -91,128  36,242  
Increase/(decrease) in Reserves  7,006  3,665  
Increase/(decrease) in Extra Budget ary Funds  -4,766  -3,025  
Net Cash Flows from Operating Activities  17,092  -15,450     
Cash Flows from Investing Activities    
(Increase)/decrease in property, plant and equipment  -811 -1,077  
(Increase)/decrease of intangible assets  197 -37 
Net Cash flows from investing activities  -614 -1,114     
Cash Flows from Financing Activities    
Increase/ (decrease) of loans  -1,200  -1,200  
Increase/ (decrease) in Working Capital Contributions  0 0 
Net Cash Flows from Financing Activities  -1,200  -1,200     
Net Increase /(Decrease) in Cash and Cash Equivalents  15,278  -17,764  
    
Cash and cash equivalents at beginning of period  115,098  132,862  
      
Cash and Cash Equivalents at end of period  130,376  115,098  
 WT/BFA/W/ 482 
 
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  5.4   Notes to the Financial Statements7 
5.4.1   Note 1 Accounting policies  
5.4.1.1   Basis of preparation  
5.4.  The financial statements of the WTO have been prepared on the accrual basis of accounting in 
accordance with IPSAS.  
5.4.1.2   Consolidation  
5.5.  The International Trade Centre (ITC) is the joint technical co -operation agency of th e United 
Nations (UN) and the WTO for Trade -related Technical Assistance. The ITC has operated since 1968 
under the joint aegis of GATT and the UN, the latter acting through the United Nations Conference 
for Trade and Development (UNCTAD).  
5.6.  In accordance w ith 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.  
5.4.1.3   Foreign currency  
5.7.  The functional and reporting currency of the WTO is Swiss Francs (CHF). Tr ansactions 
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. 
For assessed contributions received in a cur rency other than CHF, they 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 at the year -end United Nations exchange rate.  
5.4.1.4   Segment repor ting 
5.8.  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.  
5.4.1.5   Use of estimates  
5.9.  The preparation of financia l 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 benefits; provisions for litigation; accrued charges; the risk of lack of coll ection 
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.  
5.4.1.6   Cash and cash equ ivalents  
5.10.   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.  
5.11.   The Cash Flow Statement is prepared using the indirect method.  
5.4.1.7   Receiva bles 
5.12.   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 significant.  
                                                
7 All balances are presented in thousands of Swiss Fra ncs. As a result, small rounding differences may 
occur.  WT/BFA/W/ 482 
 
- 48 - 
 
 
  5.13.   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 38 below  
Table 38 Level of Provisions for Outstanding Contributions  
Members and Observers with outstanding 
contributions at year -end Level of the provision  
Greater than 3 years  100%  
Greater than 2 years, but less than 3 years  75% 
Greater than 1 year but less than 2 years  50% 
≤ 1 year  0% 
 
5.4.1.8   Advances and prepayments  
5.14.   Applying a discount factor  on advances and prepayments is not done unless the effect is 
expected to be significant  and material . 
5.4.1.9   Inventories  
5.15.   Inventories include the value of publications and souvenirs held for sale and those distributed 
free of charge. The cost of acquired publicat ions and souvenirs includes the purchase price as well 
as the transport costs. The cost of publications produced in -house includes the costs of supplies 
(paper), the cost of the rental of equipment (including maintenance and ink) as well as the staff 
costs directly attributed to inventory . For in -house publications sent 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.  
5.16.   An annual physical inventory is conducted for the stock of publications 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 -off to reflect net realizable value.  
5.4.1.10   Property , Plant and Equipment  
5.17.   Property, Plant and Equipment is recognised at historical cost less any accumulated 
depreciation and impairment loss. The following thresholds are defined for the recognition of 
Property, Plant and Equipment:  
• Any asset with a value ab ove CHF  5,000 is fully capitalized 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 a cquired as part of a lot with a 
total value above CHF 500,000. More -over any internally developed software is capitalized if 
the value exceeds CHF 500,000.  
5.18.   Contributions in -kind relating to Property, Plant and Equipment, such as the donated surface 
right t o use the land on which WTO headquarters stand, are recognised in the financial statements 
and disclosed in the notes .  
5.19.   Depreciation is provided for Property, Plant and Equipment using the straight -line method, 
except for land which is not subject to depre ciation. In the context of the building project, buildings 
and equipment are depreciated as of 1  January  2013.  
5.20.   The useful lives of major classes of assets have been estimated as follows : WT/BFA/W/ 482 
 
- 49 - 
 
 
  Table 39 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, elevator  15 years  
Furniture  10 years  
Reproduction equipment  5 or 10 years  
Audio -visual equipment  10 years  
Computer equipment  4 years  
Security equipment  10 years  
Windows and heating  25 years  
Vehicles  5 years  
 
5.21.   Damaged assets are impaired at year -end based on information received.  
5.22.   Heritage assets are not recognised in the financial statements.  
5.4.1.11    Intangible Assets  
5.23.   Intangible assets are stated at historical cost less accumulated depreciation and impairment 
losses. Depreciation is provided over the estimated useful life (4 years) using the straight line 
method. Licence rights l asting one year are expensed during the year.  
5.24.   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.  
5.25.   Copyrights, preproduction costs for publications, WTO website costs and internal and external 
development costs for databases are not recognised as intangible assets.  
5.4.1.12   Employee benefits  
5.26.   WTO employee benefits are c lassified 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 (ins tallation grants); regular monthly 
benefits (wages, 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-employm ent benefits comprise the estimated actuarial liability of defined benefit plans 
for retirement; and the ASHI cover.  
5.27.   The actuarial liability is the present value of the defined benefit obligations (relating to pension 
and ASHI) at the reporting date. Simil arly, the fair value of the WTO Pension Plan  (WTOPP ) is shown 
among the non -current assets of the Financial Statements. The assets of the WTOPP shall be 
exclusively used for the purposes outlined in the Pension Plan's Regulations.  
5.28.   The WTOPP is a separate e ntity 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 Secr etariat.  
5.29.   The benefit obligation is calculated annually by an independent actuary using the projected 
unit credit method. The actuarial gains or losses arising from experience adjustments and changes 
in actuarial assumptions are recognized immediately in ne t assets.  WT/BFA/W/ 482 
 
- 50 - 
 
 
  5.30.   Post-employment benefits include the lump sum option for removal costs for international 
staff members and separation grant. The se are calculated in -house and are discounted using the 
same rate as the one used for the valuation of the WTOPP and A SHI. 
5.4.1.13   Provisions and contingent liabilities  
5.31.   Provisions are made for future liabilities and charges where the WTO has a present legal or 
constructive obligation as a result of past events and it is probable that the WTO will be required to 
settle the obligat ion. 
5.32.   Other commitments, which do not meet the recognition criteria for liabilities, are disclosed in 
the notes to the financial statements as contingent liabilities when their existence can be confirmed 
by the occurrence or non -occurrence of one or more un certain future event which is not wholly within 
the control of the WTO.  
5.4.1.14   Tax 
5.33.   The WTO assets, income and other property are exempt from taxation.  
5.4.1.15   Revenue recognition  
5.34.   Revenue from assessed contributions as well as voluntary contributions 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 
reception of the funds, the W TO recognises an asset  (cash and cash equivalent ) and a 
liability (voluntary contributions refundable to donors). Revenue is recognised when 
carrying out the specified performance and the conditional liability is therefore discharged. 
Voluntary contributio ns are therefore recognised up to the amount expensed in the period.  
5.35.   Revenue from exchange transactions (mainly sale of publications, interest earned and rental 
of meeting rooms) is recognised when goods or services are delivered.  
5.36.   In-kind contributions of services are not recognised in the financial statements.  
5.4.1.16   Expenses  
5.37.   Under accrual accounting, expenses are recognised at the time of delivery of goods or services 
by the supplier or service provider.  
5.38.   The WTO signs agreements with partners to implement Trade -related Technical Assistance 
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 as disbur sement is made upon validation of progress reports and corresponds to 
the costs incurred by the beneficiary.  
5.4.2   Note 2 Financial risk policy  
5.39.   The Organization is exposed to limited financial risks:  
a. Counterparty risk:  
• The preservation of capital is the primary objective when investing funds. In order to 
limit counterparty risk, funds are deposited with at least two internationally 
recognized financial institutions with a rating equivalent to A - or better.  
b. Foreign currency exchange risk:  WT/BFA/W/ 482 
 
- 51 - 
 
 
  • The exposure to t he foreign exchange rate risk is reduced by maintaining most funds 
in CHF, the Organization's base currency. With respect to the holdings in foreign 
currency, the risk mitigating factor is that the combined permissible maximum 
holding in foreign currency i s 10% of overall funds.  
c. Interest and market risks:  
• Interest and market risks are also very limited as speculation on interest rates is 
strictly forbidden and cash balances retained by the Secretariat can only be invested 
through the following asset classes :  
Table 40 Asset classes for investment  
Asset classes*  % to be held  
Cash and Cash equivalents, minimum of  70% 
Bonds up to a maximum of  30% 
Equities  0% 
*   Investment in hedge funds, derivatives and alternative asset classes is prohibited.  
 
d. Liquidity risk:  
• The level of funds available shall be maintained to meet the payment requirements 
of the WTO. The investment duration shall take into account the uncertain timing of 
the receipt of Members' contributions and the cash -flow requirements.  
5.4.3   Note 3 Persistence of negative interest  
5.40.   In 2018 the Swiss National Bank (SNB) continued to implement its policy of negative interest 
on deposits  over a certain threshold. Due to this decision no interest was available for distribution 
to Members, as had been envisaged by the early payment interest scheme.  
5.4.4   Note 4 Cash and cash equivalents  
Table 41 Cash Situation  
Cash and cash equivalent  
(expressed in thousands of CHF)  31/12/2018  31/12/2017  
Cash in hand CHF                 5                 5  
Cash at bank by currency             130,372            115,093  
Total cash and cash equivalent             130,377            115,098  
      
Cash at bank represented in terms of base 
currency         CHF            113,117             97,331  
USD (in CHF equivalent)              14,866             14,805  
EUR (in CHF equivalent)               2,021              2,883  
GBP (in CHF equivalent)                 368                74  
Total cash at bank             130,372            115,093  
 
5.41.   The bank balance in CHF includes restricted funds held by the Working Capital Fund for an 
amount of CHF 10.885 million  and CHF 52 .025 million representing the accumulated budgetary 
surplus for the period 2012 -2017. 
5.42.   Bank accounts are held with UBS, Crédit  Suisse and the Swiss Post Finance Bank. The WTO 
negotiates interest rates on bank account deposits with the banks in order to obtain c ompetitive 
rates. However, the expense emanating from negative interest rates continues to rise as thresholds 
are adjusted.  In order to partially offset the negative interests paid, a Money Market investment in 
USD was conducted generating about kCHF 322 p ositive interests.  WT/BFA/W/ 482 
 
- 52 - 
 
 
  5.4.5   Note 5 Receivables from Members, Observers and Donors  
5.43.   Receivables from Members and Observers comprise of receivable assessed contributions.  The 
details for contributions due from Members and Observers are presented in Schedules  B and C, 
respectively.  
5.44.   A provision for outstanding contributions is calculated based on the ageing of the 
contributions . A provision of 100% is calculated when the age ing of the contribution is older or equal 
to 3 years, 75% when it is between two and three years and 50% when it is between one and two 
years.  
Table 42 Receivables from Members  
Expressed in thousands of CHF  31/12/2018  31/12/2017  
Receivable Assessed Contributions - Members  25,68 7 33,779  
Provision for Contributions in Arrears  -9,723 -10,413  
Total receivable from Members  15,964  23,366  
Table 43 Receivables from Observers  
Expressed in thousands of CHF  31/12/2018  31/12/2017  
Receivable assessed contributions - Observers  646 590 
Total receivable from Observers  646 590 
Table 44 Provision for Arrears from Members and Observers  
Expressed in Thousands of  CHF Provision for 
outstanding 
contributions a s 
of 1st January 
2018 Adjustment of 
the provision 
durin g 2018  Provision for 
outstanding 
contributions as  at 
31st December 2018  
Members  9,947  -698 9,249  
Observers   467   8   475  
Total  10,41 4 -690 9,724  
 
5.45.   As of 31 December 201 8, thirteen Members, with a total amount outstanding of 
CHF 7.9 million, were subject to Administrative Measures. This amount represented 31% of the total 
amount outstanding. Among the observers, Libya and Sao Tome & Principe were subject to 
Administrative Measures for a total amount outstanding of CHF 4 51,734, representing 7 0% of the 
total amount outstanding.   
5.4.6   Note 6 Inventories  
Table 45 Inventories per type  
Inventories  
Expressed in '000 CHF  31/12/2018  31/12/2017  
WTO publications and co -publications  223 277 
Non-WTO publications  35 43 
Souvenirs  62 72 
Total inventories (including 
adjustments and write offs)  320 392 
Table 46 Inventories per storage  
Inventories  
Expressed in '000 CHF  31/12/2018  31/12/2017  
External WTO Storage  91  120 
Internal WTO Storage  229  272 
Total inventories (including 
adjustments and write offs)  320  392 
 
5.46.   Inventories consist of WTO publications, co -publications, other non -WTO publications and 
souvenirs held for sale . WT/BFA/W/ 482 
 
- 53 - 
 
 
  Table 47 Inventory adjustments and write -offs 
Expressed in '000 CHF  31/12/2018  31/12/2017  
Adjustments  -11 -6 
Write -offs -63 -22 
Total Adjustments and write offs  -74 -28 
 
5.47.   The adjustment corresponds to the reconciliation between the value of the inventory in the 
financial accounts and the value of the actual physical inventory. The amount of the adjustment is 
about 2.86% (CHF 10,942) of the total inventory and well below ind ustry variance standard 
approximating  5%. 
5.48.   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.  
5.4.7   Note 7 Other Receivables  
Table 48 Other Receivables  
Expressed in Thousands of CHF  31/12/2018  31/12/2017  
Recoverable United States taxes  2,760  2,854  
Recoverable Swiss taxes  34 26 
Various other receivables  1,045  642 
Total other receivables  3,839  3,522  
 
5.49.   Other receivables include receivables from non -exchange8 transactions relating to taxes and 
receivables from exchange transactions under the line item "various other receivables".  
5.50.   72% of the amount of "Other Receivables" in 2018 is due to amounts receivable from the 
United States Government for deferred income taxes of US staff members. Generally, staff members 
remunerated by the Organization are exempted from income taxes. However, the United States of 
America and Switzerland require their citizens and residents to file and pay tax.  
5.51.   When a staff member is obligated to pay income tax to the United States of America, the WTO 
provides advances for estimated tax payments and subsequently asks for a reimbursement from the 
United State s of America Government, in conformity with an Agreement between the WTO 
Secretariat and the United States of America, of 22 December 2000.  
5.52.   The method of reimbursement applied by the Government of the United States of America is 
different from the method a pplied by the WTO Secretariat. The latter has been validated by the 
Administrative Tribunal of the International Labour Organization. The difference in reimbursement 
methods results in a non -reimbursable amount of CHF 334,193 for 2018. In 2017 the amount w as 
CHF 286,509. The difference is due to the variation of the part of the non -WTO salary of the American 
staff members, which fluctuates from year to year.  
5.53.   As an International Organization, the WTO is exempted from Swiss taxes such as value added 
tax (VAT) , federal stamp duty and tax on the interest earned on investments. Annually, the WTO 
Secretariat files a tax reimbursement claim to the Swiss authorities. The reimbursement of such 
receivable is settled in the following year of the submission.   
5.54.   The variou s other receivables include advances for  about 490 KCHF paid by WTO for the 
11th Ministerial Conference that were not yet reimbursed by the country  that hosted the Ministerial 
Conference.  The Secretariat has sent several letters and had meetings with the c ountry's officials in 
Buenos Aires and those at the Missi on of the Government of Argentina to the WTO, requesting that 
this amount be settled . There has not been much movement from the country on this.  
                                                
8 As per IPSAS 23.  WT/BFA/W/ 482 
 
- 54 - 
 
 
  5.4.8   Note 8 Advances and Prepayments  
Table 49 Advances and Prepayments  
Expressed in Thousands of CHF 31/12/201 8 31/12/201 7 
Staff advances for salary, travel and education grant  3,106  2,789  
Advances relating to Trust Fund activities  1,686  1,337  
Other advances  and prepayments  963 640 
Total advances and prepayments  5,755  4,766  
 
5.55.   Staff advances for education grants, salary and travel increased by 11% from 2017 , 
representing a total of CHF 3.1 million CHF in 201 8. The rise was mostly caused by the home leave 
and education grant advances.  
5.56.   Advances relating to Trust Fund activities include advances paid to hotels where the activities 
were to be held as well as advances to implementing partners. This amount increase d by 26% from 
the previous year. This increase is due to the fact that in a non-ministerial  year, such as 2018 , the 
technical assistance activities are implemented late into the years as well (i.e. in November and 
December ). 
5.57.   Other advances correspond to deferred expenditure, payments made to suppliers, 
Consultants and insurance  service providers . 
5.4.9   Note 9 Property, Plant and Equipment  
Table 50 Building s 
Expressed in '000 CHF  Building  
Cost at 31/12/2017  134,543  
Additions               -  
Cost at 31/12/2018  134,543  
Accumulated depreciation 01/01/2018  13,196  
Depreciation  2,999  
Accumulated depreciation at 31/12/2018  16,195  
Net carrying amount at 31/12/2018  118,348  
 
5.58.   On 7th August  2015 the infrastructure contract signed between WTO and the Swiss Authorities 
concerning the Centre William Rappard building was registered at the "Registre foncier de Genève". 
This registration defines a new process of depreciation  over 99 years , that begins with the date of 
registration.  
5.59.   The agreement restricts  the resale value of the Centre William Rappard Building. A provision 
for the right of use of the building is reported as part of the equity of the WTO and has appreciated 
accordingly using the same rate of depreciation as that of the Building , resulting in a net -off effect.  
5.60.   The Centre William Rappard and the new administrative building belong to the WTO.  
5.61.   The WTO has benefited from contributions in -kind relating to the use of different build ings: 
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 Organization s 
Internationales" (FIPOI).  
b. Free right to use the Villa Rappard and two small nei ghbouring 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.  WT/BFA/W/ 482 
 
- 55 - 
 
 
  Table 51 Equipmen t 
Expressed 
in 
(thousands 
of CHF)  Furniture  Audio 
visual 
equipment  Security 
equipment  Reproduction 
equipment  IT 
Vehicle  Total  
equipment  
Cost at 
01/01/2018  9,317  7,755  3,840  1,638  3,461  291 26,30
2 
Additions  31 150 356 -  68 -  605 
Disposals  -2 - -  -  -114 -36 -152 
Cost at 
31/12/18  9,346  7,905  4,196  1,638  3,415  255 26,755  
Accumulated 
depreciation 
as at 
01/01/2018  -4,494  -3,525  -2,057  -1,456  -2,849  -210 -14,591  
Depreciation 
for 2018  -925 -769 -403 -40 -303 -36 -2,476  
Disposals  1 -  - -  111 36 148 
Accumulated 
depreciation 
at 31/12/18  -5,418  -4,294  -2,460  -1,496  -3,041  -210 -16,919  
Net carrying 
amount at 
31/12/18  3,928  3,611  1,736  142 374 45 9,836  
 
5.4.10   Note 10 Intangible Assets  
Table 52 Intangible Assets  
Expressed in (thousands of CHF)  Software acquired  Software internally 
developed  Total 
Intangible  
Cost at 01/01/2018   1,007   466   1,473  
Additions   12   -    12  
Disposals   -    -    -   
Cost at 31/12/2018   1,019   466   1,485  
Accumulated depreciation as at 
01/01/2018   598   466   1,064  
Depreciation for the 2018   209   -    209  
Impairment losses    
 -   
Accumulated depreciation as at 
31/12/2018   807   466   1,273  
Net carrying amount at 
31/12/2018   212   0   212  
 
5.4.11   Note 11  Accounts payable  
Table 53 Payables  
Expressed in (thousands of CHF)  31/12/201 8 31/12/201 7 
Suppliers   2,652  3,772  
WTO staff, consultants and interns   1,426  1,004  
Other payables   16  25  
Total payables   4,094  4,801  
Accruals  10,451   6,600  
Grand Total   14,545  11,401  
 
5.62.   The total accounts payable include payables to suppliers, WTO staff members, consultants 
and interns, other payables, and accruals. 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 201 8.  
5.63.   The increase in payables to WTO staff members, Consultants and Interns mainly relates to 
premium for health insurance.  WT/BFA/W/ 482 
 
- 56 - 
 
 
  5.4.12   Note 12  Assessed contributions paid in advance  
5.64.   Contributions paid in advance by Members a nd Observers as at 31st Decemb er 2018 consist 
of advance payments received.  
Table 54 Contributions paid in Advance by Members and Observers  
Expressed in (thousands of CHF)  31/12/201 8 31/12/201 7 Reference  
Contributions paid in advance by Members and Observers  4,891  9,372  Schedules 
B & C 
Total contributions paid in advance by Members and 
Observers  4,891  9,372    
5.4.13   Note 13 Voluntary contributions refundable to donors  
Table 55 Voluntary contributions refundable to donors (including advances)  
Expressed in '000 CHF  2018  2017  Schedule  
Balance due to donors as of 31st December  32,914  34,502    
Contributions paid in advance for activities  for the year  -1,220  -1,112    
Balance due to donors as at 1 January  31,694  33,39 0   
Voluntary contributions received  21,294  19,38 4    
Reimbursement in in the year  -28  -402    
Expenses incurred by Trust Funds (note 20)  -21,04 8  -20,678    
Balance due to donors as at 31 st December  31,913  31,69 4  Schedule E 
Contributions paid in advance for next year activities  2,278  1,220    
Balance due to donors as at 31 st December (including 
advances)  34,191  32,91 4   
 
5.65.   In accordance with IPSAS 23, contributions from donor's  subject to conditions (i.e. use of 
funds exclusively for specific activities within a project) 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 . 
5.66.   In accordance with IPSAS, expenses are no longer recognised based on commitments but 
rather on accruals. Voluntary contributions refundable to donors include commitments made to third 
parties regarding Trust Fund activities.  
5.67.   In 201 8 a total amount  of CHF 28,087  was reimbursed to  some  donors  from the LDCs 
11th Ministerial Fund , upon their request. Specifically,  CHF 17,178 was reimbursed to the European 
Commission and CHF 10,910 to New Zealand.  
 
 
 
 
 
 
 WT/BFA/W/ 482 
 
- 57 - 
 
 
  5.4.14   Note 14 Employee benefits  
Table 56 Provision for Employee Benefits  
Expressed in '000 CHF  31/12/2018  31/12/2017  
 Short -term benefits   Dependency allowance s            50            50  
   Untaken annual leave          8,538          8,804  
  Compensatory time          8,425          8,678  
  Overtime           113           126  
   Education grant          1,351          1,283  
   Home leave           787          1,040  
   Separation grant           118           107  
   Provision for bonus           839           839  
Subtotal           11,683        12,122  
Long-term benefits  Removal indemnity          1,193  1033 
  Separation grant          7,685  7,281  
 Post-employment benefits   ASHI        283,674        228,938  
   Pension   1,072,042  1,034,918  
Total           1,376,277         1,284,293  
5.68.   Liabilities relating to e mployee benefits are determined by professional actuaries or  calculated 
by the WTO based on personnel data and past payment experience.  
5.69.   Short -term employee benefits include dependency allowances, untaken annual leave, 
education grant and home leave:  
a. The provision for dependency allowances is established to cover fi nancial support for the 
dependants of staff members that may have become eligible in 201 8 but for whom 
information has not yet been provided during the  year. The dependency allowances 
provision is determined in order to provide sufficient  financial coverage to unexpected 
dependency costs adjustments between the end of one financial year and the beginning 
of the following one.  
b. The maximum allowable accumulated annual leave is 60 days, which corresponds to a 
two-year entitlement that the emp loyees can carry forward. For prudence the provision 
for untaken leave is based on 90 days. Included in the provision of annual leave is the 
amount related to overtime of CHF 113,000 . 
c. 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 2018 (i.e. from September to 
December).  
d. 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 eligibl e staff members , in a given year , 
for their home leave. The rules to calculate the home leave estimation for international ly-
recruited  staff members  eligible for home leave  are: 
i. The date of the last home leave is considered as the year during which the hom e leave 
was taken.  
ii.  A staff member who has not taken home leave for 2 years, i.e. since 201 6, is entitled 
to 100% rights.  
iii. A staff member who has taken home leave in 201 7 is assigned half of the right.  
iv.  A staff member who has taken home leave in 201 8 has no  entitlement.  
v. The amount of the last home leave paid is the estimation for the cost of the home 
leave. No provision has been made for staff members who entered before 201 6 and WT/BFA/W/ 482 
 
- 58 - 
 
 
  never asked for home leave , as they are deemed to have foregone their rights for that 
period . 
5.70.   At the end of their employment contracts, eligible staff members receive a separation grant . 
Furthermore, international staff members leaving Switzerland are entitled to removal costs. The 
estimated amount of the provision for remov al benefits is based on Average cost s of the 
removal/indemnity for the international staff members, based on data from the past six years.  
5.71.   The provision for the separation grant is based on the following data and assumptions:  
a. The amount of the median salar y and estimated inflation are based on the weighted 
average salary between the highest and the lowest value of WTO salary scales, which is 
calculated considering the number of employees with different pay scales. There is no 
increment for the employees who  are in the maximum grade. The estimated adjustment 
for the median salary comprises of the increment rate. Other assumptions such as the 
discount rate, working time and inflation rates are the same as the ones used for the 
actuarial valuation for pension a nd ASHI.  
5.72.   The rules to calculate the long -term separation grant are:  
a. Local staff members with more than 10 years of service without dependents are entitled 
to one month of median salary.  
b. Local staff members with more than 10 years of service with dependents  are entitled to 
two months of the median salary.  
c. International staff members with more than 10 years of service are entitled to two months 
of the median salary.  
d. International staff members with less than 10 years of service are not entitled to receive 
long term separation grant if they remain in Geneva after separating from the WTO.  
e. International staff members departing from Geneva with no dependents are entitled to 
two months of the median salary regardless of time of service.  
f. International staff members departing from Geneva with dependents are entitled to four 
months of median salary, which in turns depends on the pay scale, regardless of time of 
service. In this case separation grant is paid in two parts: 50% at the moment of 
separation and the other 50 % after the proof of relocation is provided.   
Table 57 Actuarial Assumptions to define benefit obligations  
Actuarial Assumptions  Pension   ASHI  
Discount rate  2% 2% 
Medical inflation rate  -  3.1%  
Inflation  0.6%  -  
Rate of compensation increase  0.6% for 5 years, 1.1% 
thereafter plus merit 
increases  -  
Rate of pension increase  0.6%  -  
Table 58 Actuarial Assumptions  to define benefit costs  
Actuarial Assumptions  Pension   ASHI  
Discount rate  2% 2% 
Medical inflation rate  % 3.1%  
Inflation  0.6%  -     
Rate of compensation increase  0.6% for 6 years, 1.1% 
thereafter plus merit 
increases  -  
Rate of pension increase  0.6%   -  
Expected long -term rate of  return of  the WTO Pension P lan assets  2%  -  
 WT/BFA/W/ 482 
 
- 59 - 
 
 
  5.73.   The actuarial assumptions shown in  the table 58 are used to calculate the liabilities for the 
WTOPP and ASHI at the year -end, using the end of year rates for 201 8.  
5.74.   The actuarial assumptions shown in table 5 9 are used to calculate the service cost. This is  
calculated at  the beginning of the year, using the market rates at the end of the previous year.  
These service costs refer to the present value of the projected retirement benefits earned by WTOPP 
participants in the current period.  
Table 59 Financial Asset  – Pension  Asset  
Expressed in '000 CHF  31/12/2018  31/12/2017  
Fair value of plan assets at beginning of year  595,921  535,529  
Expected return on plan assets  11,762  11,706  
Actuarial (loss)/gain on plan assets net of actual investment expenses  -44,000  48,463  
Employer contributions  19,151  19,042  
Employer additional contributions  0 241 
Plan participants' contributions  9,576  9,522  
Benefits paid from the plan  -25,742  -27,147  
Expenses paid  -836 -409 
Premium paid  -984 -983 
Net transfer in(out) including effect of any business 
combinations/ disinvestitures  -1 -43 
Foreign currency exchange rate changes  -  -  
Fair value of plan assets at end of year  564,847  595,921  
 
Table 60 Defined benefit obligation – Pension  Benefit  
Expressed in '000 CHF  31/12/2018  31/12/2017  
Benefit obligation at beginning of year             1,034,918        982,040  
Service cost  30,561  29,420  
Interest cost  20,518  21,882  
Plan participants' contributions  9,576  9,522  
Actuarial (gain)/loss  4,031  20,592  
Business combinations/divestitures/ transfers  -  -  
Benefits paid  -25,742  -27,147  
Premium paid  -1,820  -1,391  
Benefit obligation at end of year  1,072,042  1,034,918  
 
Table 61 History of defined benefit obligations and experience gains and losses – 
Pension  
Expressed in '000 CHF  31/12/2018  31/12/2017  
Defined benefit obligation             1,072,042       1,034,918  
Fair value of plan assets               564,847        595,921  
Surplus / Deficit              507,195        438,997  
 
Table 62 Defined benefit obligation – ASHI  
Expressed in '000 CHF  31/12/2018  31/12/2017  
Benefit obligation at beginning of year               228,938        226,251  
Service cost  9,179  8,092  
Interest cost  4,740  5,247  
Actuarial (gain)/loss  43,097 -8,371  
Benefits paid  -2,281  -2,281  
Benefit obligation at end of year  283,673 228,938  
 
 WT/BFA/W/ 482 
 
- 60 - 
 
 
  5.75.   The valuation of the post -employment benefit obligations should reflect the term of the 
expected payments under the WTOPP and ASHI liability. The volatility in the actuarial valuations has 
had significant impact on the financial results.  In 2018 the variation of the benefit obligat ion at the 
end of the year are mainly due to:  
a. changes in demographic assumptions (loss of 9.342 kCHF): such losses are explained by 
the employer contribution rate increase to 59.7% compared to 56.21% of last year.  
b. experience adjustments (loss of 33.755 kCHF):  such negative adjustments are mainly 
explained by the premium evolution. In 2018 the premium increased to 632.80 CHF per 
month compared to 550.25 CHF in 2017. In percentage this represent s an increase of 1 4% 
versus the actuarial assumed increase of 3.1%  
5.76.   The method of calculation of the discount rate applied to WTOPP and ASHI liabilities was 
reviewed in 2015 in order to reduce volatility. In this regard, the spot rate was replaced with the 
reference interest rat e for Swiss pension plans, which is determined by the Swiss Chamber of Pension 
Fund Experts (CSEP).  
Table 63 Summary  of experienced actuarial gain or losses in the WTOPP  
Expressed in (thousands of CHF)  31/12/2018  31/12/2017  
Actuarial (loss)/gain on WTOPP and ASHI assets net of actual 
investment expenses  -4,031  48,463  
Actuarial (loss)/gain on Pension Benefits  -44,000  -20,592  
Total actuarial gain/(losses) for the WTOPP  -48,031  27,871  
Table 64 Summary of experienced actuarial gain or losses for ASHI  
Expressed in (thousands of CHF)  31/12/2018  31/12/2017  
Total actuarial gain/(losses) for ASHI  -43,097  113,927  
5.77.   Pension and ASHI  benefits are calculated by consulting actuaries. The WTO pension liability 
amounts to CHF 1,0 72 million. This liability is counterbalanced by the corresponding pension's net 
fair value assets of CHF 5 65 million. As a result,  the overall 201 8 pension net l iability is 
CHF 507 million.  
5.78.   The 201 8 liability for ASHI is CHF 2 84 million  and in creased by CHF 55 million compared to 
the previous year.  
5.79.   The discount rate is based on the rate by the Swiss Chamber of Pension Fund Experts (CSEP).  
And it is calculated as follows:  
a. two thirds according to the average performance of a representative pension fund index 
over the last 20 years.  
b. One third according to the yield on ten -year Federal bonds less a margin of 0.5%; and  
c. The result is finally rounded down to the nearest 0.25% and would never be below the 
return of 10 -year Government bonds.  
5.80.   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. Defining a discount  rate with 
a reduced volatility across the years allows a better decision -making process and facilitates the 
identification of trends in benefits liabilities. 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, changes in benefits or medical costs;  WT/BFA/W/ 482 
 
- 61 - 
 
 
  b. the effect of changes in estimates of future employee turnover, early retirement, or 
mortality, or of increases in salaries, benefits, or medical costs; and  
c. differences between the actual return and the expected return on WTOPP assets.  
5.4.15   Note 15 Loan  
5.81.   The Organization received a CHF 60 million interest free loan from the Swiss Authorities 
(CHF 20 million for the transformation of the South and North courtyards and CHF 40 million for the 
new administrative building). The duration of the loan is 50 years. As of 31 December 201 8 the loan 
balance was CHF 5 2.8 million.  
5.4.16   Note 16 Working Capital Fund  
5.82.   Governments  acceding to the WTO are obligated to make an advance to the Working Capital 
Fund 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 value  of the 
Working Capital Fund for countries or separate customs territories whose share of the total trade of 
Members is  0.5% or less.  
5.83.   In December 2018, t he General Council approved for the accumulated budgetary surplus from 
2012 to 2017, amo unting to  52.025 MCHF to be allocated to the Working Capital Fund. 
Table 65 Working Capital Fund Statement  
Expressed in '000 CHF  31/12/2018  31/12/2017  
ASSETS      
Cash and cash equivalents  10,885  10,885  
Transfer into the Working Capital Fund  52,025  -   
Total assets  62,910  10,885  
      
LIABILITIES AND CAPITAL FUND      
Advances made by Members  4,724  4,724  
Interests earned  6,161  6,161  
Transferred  Accumulated Budget Surplus  52,025  -   
Total liabilities and capital fund  62,910  10,885  
 
5.4.17   Note 17 Reserves  
Table 66 Reserves  
Expressed in '000 CHF   Ministerial 
Conference 
Operating 
Fund   Global 
Trust Fund   
Appellate 
Body 
Operating 
Fund   Building 
Renovation 
Fund  Special 
Reserve 
Account 
Medical 
Insurance   Total  
 Opening Balance at 
31/12/2017  -  1,000  1,977  11,240  1,627  15,844  
 Replenishment of 
reserves  600  -  2,000  4,100  1,727  8,427  
 Utilisation of reserves  -4  -  -1,417  -  -  -1,421  
 Balance at 
31/12/2018  596  1,000  2,560  15,340  3,354  22,850  
 
5.84.   The WTO Reserve Funds, amounting to KCHF 22,850, include the following:  
a. In 201 8, CHF 3,881  was spent from the Ministerial Conference Operating Fund to cover 
preparatory missions to Astana . In 201 8, the Ministerial Conference Operating Fund was 
replenished with the annual allocation of CHF  600,000. WT/BFA/W/ 482 
 
- 62 - 
 
 
  b. The Global Trust Fund was established in 2001 a nd the amount of CHF 1  million allocated 
together with its establishment and beginning of operation was never used.  
c. The Appellate Body Operating Fund was replenished with an allocation of CHF 2 Million. In 
2018 this Trust Fund covered expenses approximatin g CHF 1. 42 Million in 201 8. 
d. The Building Renovation Fund was established in 2015 and was financed in 201 8 with an 
allocation of CHF 4.1 million. No expenditures were incurred against the Building 
renovation Fund in 2018. The closing balance  is CHF  15.34 Million.  
e. The Special Reserve Account for Medical Insurance was established in December 2017, in 
accordance with a decision by the Committee on Budget, Finance and Administration.  
5.85.   For compliance with IPSAS 19, budget provisions  to the Building Renovation Fund and to the 
special reserve account  were identified within the equity as depi cted in the table below : 
Table 67 Budget allocations and provisions  for BRF and SRA  
Expressed in '000 CHF   Budget Provision 
to Building 
Renovation Fund 
Budget   Budget Provision 
to Special Reserve 
Account   Total  
Budget Provisions Allocated to BRF 
and SRA at 31/12/2017  -8,800  -725  -9,525  
 Budget Allocation of the Year  -4,100  -666  -4,767  
 Use of the budget allocation  -  -  -  
 Balance at 31/12/2018  -12,900  -1,391  -14,291  
5.4.18   Note 18 Revenue  
5.86.   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 report and in detail in Schedule A of the Financial Statements.  
b. Contribution s from Observers amount to kCHF 616 and are detailed in Schedule A of the 
Financial Statements.  
c. Voluntary Contributions from Trust Funds amounted to CHF 2 1.048 million. This amount 
is summarized in the table below. The 201 8 voluntary contributions , by country, are 
detailed in Schedule  D of the Financial Statements.  
Table 68 Voluntary Contributions  
Expressed in (thousands of CHF)  31/12/2018  31/12/2017  
Contributions from donors  21,294  19,385  
Reimbursement of contributions  -28 -403 
Voluntary contributions net of reimbursement  21,266  18,982  
(Increase)/ decrease in amount due to Donors for the year  -218 1,913  
Total voluntary contributions  21,048  20,895  
5.87.   Revenue from exchange transactions is included in the line "Revenue from publications" and 
"Other revenue".  
 
 
 
 WT/BFA/W/ 482 
 
- 63 - 
 
 
  5.88.   Income from publications including sales through the WTO bookshop and the WTO distributor 
as well as royalties, is summarized in the table below:  
Table 69 Revenue from publications  
Expressed in (thousands of CHF)  31/12/2018  31/12 /201 7 
Revenue from publications printed in -house   200  261 
Sales of WTO publications   129  139 
Sales of non -WTO publications   63  78 
Sales of souvenirs   40  38 
Other sales of publications (royalties)   29  29 
Total  Revenue from publications   461  545 
5.89.   Other revenue is summarized in the table below:  
Table 70 Other Revenue  
Expressed in '000 CHF  31/12/2018  31/12/2017  
Refund of prior year's outstanding obligations                      857           836  
Rental of meeting rooms and office spaces                      126           128  
Miscellaneous                      318           200  
Total Other Revenue                    1,301        1,164  
5.90.   The refund of prior year obligations includes refunds following account reconciliation and the 
release of a provision for legal damages .  
5.91.   Rental of meeting rooms and office space includes revenues generated by the outsourcing of 
WTO meeting facilities to other entities.  
5.92.   Miscellaneous revenue includes compensation  received from the Insurance Company to cover 
invalidity cases . 
5.93.   Revenue from investment returns for the WTOPP amounted to  CHF 3.4 million.  
  WT/BFA/W/ 482 
 
- 64 - 
 
 
  5.4.19   Note 19 Expense s 
5.94.   The main categor ies of expenses are summarized in the two tables below : 
Table 71 Staff Expenditures including Trust Funds  
Line 2018  2017  
Staff / Salary           87,599  86,897  
Variation in the Provision  for Medical  Cover  4,060  4,000  
Staff / Annual leave              323  418 
Variation in the Provision for Annual Leave  -266 79 
Staff / Overtime  92 91 
Staff / Representation Allowance  158 171 
Staff / Pension  18,640  18,755  
Staff / Retiree Health Insurance  2,726  2,716  
Staff / Health Insurance  5,466  5,301  
Death and Invalidity Insurance  503 460 
Staff/ Dependenc y Allowance  5,463  7,648  
Staff / Education Grant  4,321  4,127  
Variation  in the  Provision for Education Grant  68 15 
Staff / Home Leave  1,316  990 
Variation in the Provision for Home Leave  -253 72 
Staff / Rental Subsidy  455 432 
Staff / Travel and Removal  594 754 
Variation  in the  Provision for Travel & Removal  160 87 
Staff / Installation Grant & Medical Examinations  259 397 
Staff / Separation Grant  717 498 
Variation in the Provision for Indemnity on Separation  404 519 
Staff / Negotiated Termination Indemnity  105 106 
Staff / US Taxes  334 287 
Subtotal  133,243  134,819  
Staff / Pension Actuarial Cost  23,517 22,763  
Staff / Retiree Health Insurance Actuarial Cost  11,639  11,058  
Grand Total  168,399  168,640  
 
Table 72 Temporary Assistance  including Trust Funds  
Line 2018  2017  
Short -Term Staff / Salary  5,555  6,229  
Short -Term Staff / Pension  566 638 
Short -Term Staff / Health Insurance  245 285 
Short -Term Staff / Annual Leave  306 324 
Short -Term Staff / Overtime  25 18 
Language and Translation costs  8,120  8,188  
Consulting costs  4,049  3,570  
Panellists & Appellate Body Members Fees  2,107  2,609  
Interns  2,406  2,628  
Consolidation with Trust Funds  -38 -39 
Total  23,340  24,450  
 
 
 WT/BFA/W/ 482 
 
- 65 - 
 
 
  5.95.   Other categories of expenditures reported in the Statement of Financial Performance are the 
following:  
a. Supplies and other general service expenditures include general administration costs such 
as the cost of utilities, maintenance costs, and publication costs. In addition , costs for the 
purchase of supplies and small equipment and a write -off for obsolete publications are 
part of this category.  
b. Travel & Hospital ity expenditure represents the costs related to travel on official mission; 
accommodation; tickets for staff members; panellists and participants at trade -related 
technical activities , among others. Hospitality expenses are related to costs incurred by 
Senior Management for receptions; and providing food and refreshments during official 
meetings  or official meals .  
c. Implementing partners' expenditures amount to CHF 5.2 million and represent costs for 
activities funded by the WTO which are executed by third -party organizations.  
d. Contribution to ITC represents  funds granted to the ITC for its core activities.  
e. The Ministerial Conference of Operating Fund was used in 201 8 to cover expenditures 
preparatory mission of CHF 3,881 for the Ministerial conference which will take place in 
June 2020.  
f. The depreciation of assets includes the amortisation of the liability related to the Centre 
William Rappard following the concession o f a right of use of the Centre William Rappard 
premises by the Canton de Genève.  
g. Finance and foreign exchange costs refer mainly to interest paid to banks and expenses 
due to exchange rate transactions among different currencies.  
5.4.20   Note 20 Segment reporting  
5.96.   Segment information is based: i) the regular budget of the WTO, and ii) Trust Funds. Segment 
reporting will only be presented for the Statement of Financial Performance.  
5.97.   The only transfer across segments relates to the reallocation of part of the flows int o the 
Programme Support Fund to the regular budget. Of this amount, 10% is statutorily credited back to 
the WTO regular budget as a contribution in recognition of the fact that the Organization's resources 
are being used for the delivery of the technical a ssistance activities financed from the extra -
budgetary funds (corresponding to the amount of CHF 1 89,973). The counterpart of this amount is 
redistributed as follows:  
a. 80% of this contribution is allocated to supplies and other general services costs 
(corre sponding to the amount of CHF 1 51,978). 
b. 20% of this contribution is allocated to Temporary Assistance (corresponding to the 
amount of CHF 3 7,995). 
  WT/BFA/W/ 482 
 
- 66 - 
 
 
  Table 73 Financial Performance by segments  
Expressed in '000 CHF  WTO 
Budget  Trust 
Funds  Inter -Fund 
Transactions  TOTAL 
WTO  
REVENUE          
Contributions assessed on Members  195,500  - - 195,500  
Contributions of Observers  616 - - 616 
Voluntary contributions on trust funds  - 21,048  - 21,048  
Profit / Loss on Fixed asset    - - - 
Extraordinary Revenue FIPOI  - - - - 
Revenue from publications  461     461 
Other revenue  1,491  - -190 1,301  
Transfer from Building Renovation Fund  - - - - 
WTO Pension Plan Revenue  3,351  - - 3,351  
Total revenue  201,418  21,048  -190 222,277  
          
EXPENSES          
Staff Expenditure  -126,066  -7,177  - -133,243  
Actuarial cost for ASHI  -11,639  - - -11,639  
Actuarial cost for pension  -23,517  - - -23,517  
Temporary Assistance  -20,472  -2,907  38 -23,340  
Supplies, write off and other general 
services costs  -15,249  -376 152 -15,473  
Travel & Hospitality  -7,872  -5,685  - -13,557  
Implementing Partners  -405 -4,850  - -5,255  
Contribution to ITC  -18,243  - - -18,243  
Ministerial Conference Operating Fund  -596 - - -596 
Appellate Body Operation Fund  -583 - - -583 
Depreciation  -5,684  - - -5,684  
Provision for contributions in arrears  690 - - 690 
Depreciation of provision for right of 
use - CWR 606 - - 606 
Finance costs  -517 -63 - -580 
Loss/(Gain) on foreign exchange 
transactions  -75 9 - -67 
Building Renovation Fund  - - - - 
          
Total expenses  -229,623  -21,048  190 -250,481  
          
Surplus/(deficit) for the period  -28,205  - - -28,205  
 
5.4.21   Note 21 Reconciliation with Budget  
5.98.   The WTO consolidated budget includes the budget for the WTO Secretariat and the budget for 
the Appellate Body and its Secretariat. The WTO Financial Statements also include the activities 
financed by the Trust Funds. The WTO Consolidated Budget is approved  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).  
5.99.   A statement of comparison of the original 201 8 budget and actual amounts is p resented in 
the first narrative part of this report where material differences are explained. The following table 
reconciles the budgetary result w ith the financial results as obtained from the implementation of 
IPSAS.  WT/BFA/W/ 482 
 
- 67 - 
 
 
  Table 74 Reconciliation of the budget ary result and financial result  
Expressed in '000 CHF    
Budgetary savings for the period ended 31/12/2018  729 
Assessed contributions on new Members               -   
Miscellaneous income  591  
Budgetary result  for the period ended 31/12/2018  1,320  
Loan reimbursement             1,200  
Sales of Assets  -4  
Production stocked              200  
Building Renovation Fund Allocation             4,100  
Acquisition of property, plant and equipment              618  
Depreciation and amortisation of property, plant and equipment  -5,684  
Depreciation of provision for right of use - CWR             606  
Provision for contribution in arrears  690  
Staff Provisions  554  
Pension benefits actuarial valuation (net value)  -20,166  
After service health insurance (ASHI) benefits actuarial valuation  -11,639  
Financial result for the period ended 31/12/2018  -28,205  
 
5.100.   The financial deficit for 201 8 is CHF 28.2 million.  
5.4.22   Note 22 Key management personnel  
5.101.   Key management personnel have the authority and responsibility for planning, directing and 
controlling the activities of the WTO. These are the Director -General and the four Deputy 
Directors -General.  
5.102.   The aggregate remuneration paid to key management personnel includes net salaries, 
entitlements such as education grant, home leave and dependency allowances, employer pension 
and health insurance contributions.  
Table 75 Key management personnel  
Expressed in 
CHF Number 
of Staff  
Members  Net salaries and 
representation 
allowances  Other 
entitlements  Pension and 
health plans  Total 
31/12/201 8 
Key 
management 
personnel  5 1,545,030  30,308  322,067  1,897,405  
 
5.4.23   Note 23 Contingent assets and contingent liabilities  
5.103.   At the end of 201 8, the Organization held  bank guaranties  of approximately CHF 186,000 
for the Welcome P avilion . 
5.4.24   Note 24  Events after the reporting date  
5.104.   No material events  that would have impacted on these statements  occurred between the 
reporting date and the date w hen the Financial  Statements were authorised for issue.  
  WT/BFA/W/ 482 
 
- 68 - 
 
 
  5.5  Schedules  
5.5.1   Schedule A 201 8 Statement  of Contributions from Member s  
Table 76 Contributions from Members in 201 8 (in CHF)  
Country  Assessed  
Contributions  
Afghanistan             48,875  
Albania             43,010  
Angola            475,065  
Antigua and Barbuda             29,325  
Argentina            760,495  
Armenia             37,145  
Australia          2,680,305  
Austria          1,931,540  
Bahrain, Kingdom of            164,220  
Bangladesh            316,710  
Barbados             29,325  
Belgium          3,692,995  
Belize             29,325  
Benin             29,325  
Bolivia, Plurinational State of             99,705  
Botswana             76,245  
Brazil          2,519,995  
Brunei Darussalam             78,200  
Bulgaria            308,890  
Burkina Faso             29,325  
Burundi             29,325  
Cabo Verde             29,325  
Cambodia             82,110  
Cameroon             72,335  
Canada          4,971,565  
Central African Republic             29,325  
Chad            43,010  
Chile           760,495  
China          19,237,200  
Colombia            580,635  
Congo             84,065  
Costa Rica            144,670  
Côte d'Ivoire            105,570  
Croatia            220,915  
Cuba           142,715  
Cyprus            121,210  
Czech Republic          1,391,960  
Democratic Republic of the Congo            103,615  
Denmark          1,503,395  
Djibouti             29,325  
Dominica             29,325  
Dominican Republic            158,355  
Ecuador            238,510  
Egypt            496,570  
El Salvador             76,245  
Estonia            175,950  
European Union                -   
Fiji            29,325  
Finland            905,165  WT/BFA/W/ 482 
 
- 69 - 
 
 
  Country  Assessed  
Contributions  
France          7,427,045  
Gabon             66,470  
The Gambia             29,325  
Georgia             68,425  
Germany          13,939,150  
Ghana            160,310  
Greece            637,330  
Grenada             29,325  
Guatemala            142,715  
Guinea             29,325  
Guinea -Bissau             29,325  
Guyana             29,325  
Haiti            29,325  
Honduras             74,290  
Hong Kong, China          5,233,535  
Hungary          1,000,960  
Iceland             62,560  
India         4,480,860  
Indonesia          1,769,275  
Ireland          2,121,175  
Israel            834,785  
Italy         5,233,535  
Jamaica             52,785  
Japan          8,091,745  
Jordan            166,175  
Kazakhstan            615,825  
Kenya            119,255  
Korea, Republic of          5,913,875  
Kuwait, the State of            682,295  
Kyrgyz Republic             41,055  
Lao People's Democratic Republic             31,280  
Latvia            158,355  
Lesotho             29,325  
Liberia             29,325  
Liechtenstein             64,515  
Lithuania            316,710  
Luxembourg            889,525  
Macao, China            248,285  
Madagascar             29,325  
Malawi             29,325  
Malaysia          2,015,605  
Maldives             29,325  
Mali            31,280  
Malta            136,850  
Mauritania             29,325  
Mauritius             58,650  
Mexico          3,612,840  
Moldova, Republic of             37,145  
Mongolia             56,695  
Montenegro             29,325  
Morocco            347,990  
Mozambique             68,425  
Myanmar            103,615  
Namibia             56,695  WT/BFA/W/ 482 
 
- 70 - 
 
 
  Country  Assessed  
Contributions  
Nepal             41,055  
Netherlands          5,778,980  
New Zealand            457,470  
Nicaragua             52,785  
Niger             29,325  
Nigeria            742,900  
North Macedonia  52,785  
Norway          1,477,980  
Oman            392,955  
Pakistan            342,125  
Panama            263,925  
Papua New Guinea             66,470  
Paraguay            113,390  
Peru           418,370  
Philippines            666,655  
Poland          2,107,490  
Portugal            778,090  
Qatar            811,325  
Romania            670,565  
Russian Federation          4,236,485  
Rwanda             29,325  
Saint Kitts and Nevis             29,325  
Saint Lucia             29,325  
Saint Vincent and the Grenadines             29,325  
Samoa             29,325  
Saudi Arabia, Kingdom of          2,455,480  
Senegal             46,920  
Seychelles                            29,325  
Sierra Leone             29,325  
Singapore          4,762,380  
Slovak Republic            764,405  
Slovenia            304,980  
Solomon Islands             29,325  
South Africa          1,024,420  
Spain          3,696,905  
Sri Lanka            168,130  
Suriname             29,325  
Eswatini             29,325  
Sweden          2,105,535  
Switzerland          3,712,545  
Chinese Taipei          3,378,240  
Tajikistan             29,325  
Tanzania             95,795  
Thailand          2,390,965  
Togo            29,325  
Tonga             29,325  
Trinidad and Tobago            125,120  
Tunisia            207,230  
Turkey          2,017,560  
Uganda             54,740  
Ukraine            690,115  
United Arab Emirates          2,936,410  
United Kingdom          7,407,495  
United States of America          22,251,810  WT/BFA/W/ 482 
 
- 71 - 
 
 
  Country  Assessed  
Contributions  
Uruguay            121,210  
Vanuatu             29,325  
Venezuela, Bolivarian Republic of            664,700  
Viet Nam          1,247,290  
Yemen             89,930  
Zambia             87,975  
Zimbabwe                             56,695  
TOTAL        195,500,000  
 
Table 77 Contributions from Observers in 201 8 – (in CHF)9 
Observers  2018  
APPROVED  
Contribution  
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  
Equatorial Guinea             29,325  
Ethiopia             29,325  
Holy See             29,325  
Iran            29,325  
Iraq            29,325  
Lebanese Republic             29,325  
Serbia             29,325  
Somalia             29,325  
South Sudan             29,325  
Sudan             29,325  
Syrian Arab Republic             29,325  
Timor -Leste             29,325  
Uzbekistan             29,325  
TOTAL           616,825   
 
 
 
 
                                                
9 Libya and Sao Tome and Principe assessed contributions is not listed as both countries are under 
category III  WT/BFA/W/ 482 
 
- 72 - 
 
 
  5.5.2   Schedule B  Statement of Outstanding C ontributions as  at 31 December  2018 – 
Members  
Table 78 Outstanding c ontributions as at 31 December  2018 – Member s – (in CHF)  
Members Contributions 
(Swiss Francs)  Category  1980 -
2016  2017  2018  TOTAL  Advance  
Afghanistan    -   -   -   -   -   
Albania    -   -   -   -   -   
Angola    -   -   17  17  -   
Antigua and Barbuda   II  29,558  29,325  29,325  88,208  -   
Argentina    -   -   760,494  760,494  -   
Armenia    -   -   -   -   -   
Australia              -             -             -             -             -   
Austria              -             -             -             -       1,911,990  
Bahrain, Kingdom of              -             -             -             -             -   
Bangladesh              -             -             -             -             -   
Barbados              -             -             -             -             -   
Belgium              -             -             -             -             -   
Belize   I   -   29,325   29,325   58,650   -  
Benin    -  -  7  7   -  
Bolivia, Plurinational State of    -  -  -  -   -  
Botswana    -  -  -  -   -  
Brazil    -  -   2,519,995  2,519,995   -  
Brunei Darussalam    -  -  -  -   -  
Bulgaria    -  -  -  -   -  
Burkina Faso    -   30,327   29,325   59,652   -  
Burundi   III   521,631   29,325   29,325   580,281   -  
Cabo Verde    -  -   22,310   22,310   -  
Cambodia    -  -  -  -   -  
Cameroon   II   100,188   64,515   72,335   237,038   -  
Canada    -  -  -  -   -  
Central African Republic     864,421   29,325   29,325   923,071   -  
Chad  III   730,549   44,965   43,010   818,524   -  
Chile   -  -  -  -   -  
China    -  -  -  -   -  
Colombia    -  -   112,412   112,412   -  
Congo   I   88,282   91,885   84,065   264,232   -  
Costa Rica    -  -  -  -  31,771  
Côte d'Ivoire (2)    -  -   102,851   102,851   -  
Croatia    -  -  -  -   -  
Cuba   -  -   142,714   142,714   -  
Cyprus    -  -  -  -   -  
Czech Republic    -  -  -  -   -  
Democratic Republic of the 
Congo    -  -   103,615   103,615   -  
Denmark    -  -  -  -   -  
Djibouti (2)     64,464   29,325   29,325   123,114   -  
Dominica    -  -  -  -   -  
Dominican Republic    -  176   158,355   158,531   -  
Ecuador    -  -  -  -  10,230  
Egypt    -  -   496,570   496,570   -  
El Salvador    -   8,964   76,245   85,209   -  
Estonia    -  -  -  -  175,950  
Eswatini    -  -  -  -   -  
European Union    -  -  -  -   -  
Fiji   -  -  -  -   -  WT/BFA/W/ 482 
 
- 73 - 
 
 
  Members Contributions 
(Swiss Francs)  Category  1980 -
2016  2017  2018  TOTAL  Advance  
Finland    -  -  -  -   -  
France    -  -  -  -   -  
Gabon    -   20,040   66,470   86,510   -  
The Gambia     59,783   29,325   29,325   118,433   -  
Georgia    -  -  -  -  70,380  
Germany    -  -  -  -   -  
Ghana    -  -   158,749   158,749   -  
Greece    -  -  -  -   -  
Grenada    -  -   22,885   22,885   -  
Guatemala    -  -  -  -  1  
Guinea   II   58,175   29,325   29,325   116,825   -  
Guinea -Bissau   III   620,138   29,325   29,325   678,788   -  
Guyana    -  -  -  -  22,215  
Haiti   -  -  -  -   140  
Honduras    -  -  -  -  21,633  
Hong Kong, China    -  -  -  -   -  
Hungary    -  -   25   25   -  
Iceland    -  -  -  -  76,245  
India   -  -  -  -   -  
Indonesia    -  -  -  -   -  
Ireland    -  -  -  -   -  
Israel    -  -  -  -   -  
Italy   -  -  -  -   -  
Jamaica    -  -  -  -   -  
Japan    -  -  -  -   -  
Jordan    -  -  -  -   -  
Kazakhstan    -  -  -  -   -  
Kenya    -  -  -  -   -  
Korea, Republic of    -  -  -  -   -  
Kuwait, the State of    -  -  -  -   -  
Kyrgyz Republic    -  -  -  -   -  
Lao People's Democratic 
Republic    -  -  -  -   -  
Latvia    -  -  -  -   -  
Lesotho    -  -  -  -   -  
Liberia    -   5,262   29,325   34,587   -  
Liechtenstein    -  -  -  -   -  
Lithuania    -  -  -  -   -  
Luxembourg    -  -  -  -   -  
Macao, China    -  -  -  -   -  
Madagascar    -  -  -  -  1,050  
Malawi    -  -  557  557   -  
Malaysia    -  -  -  -   -  
Maldives    -  -  -  -   -  
Mali   -  -  -  -  32,758  
Malta    -  -  -  -   -  
Mauritania    -  -   10,535   10,535   -  
Mauritius    -  -  -  -   -  
Mexico    -  -  -  -   -  
Moldova, Republic of    -  -  -  -   -  
Mongolia    -  -  -  -   -  
Montenegro    -  -  -  -   -  
Morocco    -  -  -  -   -  
Mozambique    -  -   68,425   68,425   -  
Myanmar    -  -   1,510   1,510   -  WT/BFA/W/ 482 
 
- 74 - 
 
 
  Members Contributions 
(Swiss Francs)  Category  1980 -
2016  2017  2018  TOTAL  Advance  
Namibia    -  -  -  -   -  
Nepal    -  -  133  133   -  
Netherlands    -  -  -  -   -  
New Zealand    -  -  -  -   -  
Nicaragua    -  -  -  -   -  
Niger   III   507,250   29,325   29,325   565,900   -  
Nigeria    -  -  -  -  8,264  
North Macedonia    -  -  -  -  52,785  
Norway    -  -  -  -   -  
Oman    -  -  -  -   -  
Pakistan    -  -   18,316   18,316   -  
Panama    -  -  -  -  1,866  
Papua New Guinea    -  -   66,470   66,470   -  
Paraguay    -  -   14,725   14,725   -  
Peru   -  -   120,140   120,140   -  
Philippines    -  -  -  -   -  
Poland    -  -  -  -   -  
Portugal    -  -  -  -   -  
Qatar    -  -  -  -   -  
Romania    -  -  -  -   -  
Russian Federation    -  -  -  -   -  
Rwanda    -  -  -  -   -  
Saint Kitts and Nevis    -  -  -  -  10  
Saint Lucia    -  -  -  -   -  
Saint Vincent and the 
Grenadines    -   17,268   29,325   46,593   -  
Samoa    -  -  -  -  15  
Saudi Arabia, Kingdom of    -  -  -  -   -  
Senegal    -  ,  46,920   89,815   -  
Seychelles    -  -  -  -   -  
Sierra Leone   III   610,196   29,325   29,325   668,846   -  
Singapore    -  -  -  -   -  
Slovak Republic    -  -  -  -   -  
Slovenia    -  -  -  -   -  
Solomon Islands    -  -   15   15   -  
South Africa    -  -  -  -   -  
Spain    -  -  -  -   -  
Sri Lanka    -  -  -  -   -  
Suriname   I   79   29,325   29,325   58,729   -  
Sweden    -  -  -  -   -  
Switzerland    -  -  -  -   -  
Chinese Taipei    -  -  -  -   -  
Tajikistan    -  -  -  -   -  
Tanzania    -  -   2,539   2,539   -  
Thailand    -  -  -  -  2,404,650  
Togo   -  -  -  -  1,688  
Tonga    -  -  -  -   -  
Trinidad and Tobago    -  -  -  -   -  
Tunisia    -  -  -  -   -  
Turkey    -  -  -  -   -  
Uganda   I   15,241   54,740   54,740   124,721   -  
Ukraine    -  -  -  -   -  
United Arab Emirates    -  -  -  -   -  
United Kingdom    -  -  -  -   -  
United States of America    -  -  11,125,905  11,125,905   -  WT/BFA/W/ 482 
 
- 75 - 
 
 
  Members Contributions 
(Swiss Francs)  Category  1980 -
2016  2017  2018  TOTAL  Advance  
Uruguay    -  -  -  -   -  
Vanuatu    -  -  -  -  18  
Venezuela, Bolivarian 
Republic of   III   2,260,912   705,755   664,700   
3,631,367   -  
Viet Nam    -  -  -  -   -  
Yemen    -  -   89,930   89,930   -  
Zambia    -  -   2,174   2,174   -  
Zimbabwe    -   48,818   56,695   105,513   -  
TOTAL  13   6,530,867  1,458,185   17,698,103  25,687,155  4,823,659  
1 European Union  Member States pay contributions on an individual basis i.e. there is no global 
assessment of the EU's contributions.  
2 There are 13 Members under administrative measures , in Categories  I, II and III. 
 
5.5.3   Schedule C  Statement of Outstanding Contributions as 3 1 December  2018 – 
Observers  
Table 79 Outstanding contributions as 31  Dece mber  2018 - Observers  
Observers (23)  Cat. 2001 -2016  2017  2018  TOTAL  Advance  
Algeria    -  -   29,325   29,325   -  
Andorra    -  -  -  -   -  
Azerbaijan    -  -  -  -   -  
Bahamas    -  -  -  -   -  
Belarus    -  -  -  -   -  
Bhutan    -  -  -  -  29,325  
Bosnia and Herzegovina    -  -  -  -   -  
Comoros    -   16,617   29,325   45,942   -  
Equatorial Guinea    -  -  -  -   -  
Ethiopia    -  -  -  -   -  
Holy See    -  -  -  -  34,595  
Iran   -  -   29,256   29,256   -  
Iraq   -  -   98   98   -  
Lebanese Republic    -  -   29,325   29,325   -  
Libya III  84,546   n/a   n/a   84,546   -  
Sao Tome and Principe  III  306,529   n/a   n/a   306,529   -  
Serbia    -  -  -  -   -  
Somalia  I  2,009   29,325   29,325   60,659   -  
South Sudan    -   1,527   29,325   30,852   -  
Sudan    -  -  -  -   812  
Syrian Arab Republic    -  -  -  -   -  
Timor -Leste    -  -  -  -  2,800  
Uzbekistan    -  -   29,325   29,325   -  
TOTAL  3 393,084  47,469  205,304  645,857   67,532  
1  There are Three  Observers under Administrative M easures . 
   
  WT/BFA/W/482  
 
- 76 - 5.5.4   Schedule D Voluntary Contributions Received in 2018 
Table 80 WTO Trust Funds - Voluntar y contributions received in 201 8 per donor and by fund  
Funds/ Donors  Global 
Trust Fund Standards and 
Trade 
Development 
Facility  Enhanced 
Integrated 
Framework  French -Irish 
Mission 
Internship 
Programme  Netherland s 
Trainee  
Programme  China LDCs 
and 
Accessions 
Programme  Trade 
Facilitation 
Agreement 
Facility  Data Set 
on Trade 
in 
Services  11th 
Ministerial 
Conference 
- LDCs10 China 
Develop ment  
Cooperation  
Research Fund  Trust Fund 
for Natural 
Disasters 
and Trade   TOTAL  
Australia  17,927  181,258  -  -  -  -  -  -  -  -  110,000  309,185  
Austria  233,200    -  -  -  -  -  -  -  -  -  233,200  
Canada     337,601   -   -  -  -  -  -  -  -  -   337,601  
China       -   -  -   494,000  -  -  -  -  -  494,000  
Denmark     614,684   -   -  -  -  -  -  -  -  -   614,684  
Estonia  23,320     -   -  -  -  -  -  -  -  -  23,320  
Finland  1,159,000  579,500   -   -  -  -   231,800  -  -  -  -   1,970,300  
France  519,300   195,760   -   923,200  -  -  115,400  -  -  -  -   1,753,660  
Germany  1,133,000   169,950   -    -  -  -  -  -  -  -   1,302,950  
Ireland     170,850   -   227,800  -  -  -  -  -  -  -  398,650  
Japan     -   -   -  -  -  -  -  -  -  -  -  
Korea , Republic of   298,800   -   -   -  -  -  -  -  -  -  -  298,800  
Liechtenstein  40,000   -   -   -  -  -  -  -  -  -  -  40,000  
Lithuania   30,316   -   -   -  -  -  -  -  -  -  -   30,316  
Netherlands    575,000   -   -   875,000  -  -  -  -  -  -   1,450,000  
New Zealand       -   -  -  -  -  -  -10,910  -  -  - 10,910  
Norway     792,818   -   -  -  -  -  -  -  -  -   792,818  
Sweden   2,154,955   1,107,487   -   -  -  -  -  -  -  -  -  3,262,442  
Switzerland       -   -  -  -  -  -  -  -  -  -  
United Kingdom    810,313   -   -  -  -  -  -  -  -  -  810,313  
United States   600,547  371,100   -   -  -  -  -  -  -  -  -   971,647  
European Union  1,164,800  696,000   -   -  -  -  -  -  -17,178  -  -   1,843,622  
UNOPS      4,339,091   -  -  -  -  -    -  -   4,339,091  
 Total   7,375,165  6,602,321  4,339,091   1,151,000  875,000  494,000   347,200   -  -28,088   -   110,000  21,265,689  
                                                
10 In 2018, New Zealand and the European Union requested and received a pro-rata reimbursement of the unspent funds for the MC11.    
  WT/BFA/W/482  
 
- 77 - 5.5.5   Schedule E  Balance d ue to Donors as 31  December  2018 
Table 81 WTO Trust funds - Balance due to donors as 31  December  2018 
 
Funds/ donors  
Global Trust Fund  
Enhanced Integrated 
Framework  
French -Irish Mission 
Internship Programme  
Independent Entity  Pre 
shipment Inspection -
Deposit  
Program me Support Fund  
Netherlands Trainee 
Program me 
China Development 
Cooperation Research 
Fund  
Trade Facilitation 
Agreement Facility  
Standards and Trade 
Development Facility  
China LD Cs and 
Accessions Programme  
Data Set on Trade in 
Services by Sector and 
Mode of Supply  
Trust Fund for Natural 
Disasters and Trade  
MC Trust Fund for LDCs  
Total  
Australia  815,157   -   -  -   -  -    664,074  354,197  -  -  51,546  131,079  2,016,054  
Austria   370,501   -   -  -   -  -    173,578  -  -  -  -    544,079  
Canada   106,235   -   -  -   -  -      631,049  -  -  -  33,028  770,312  
China  -   -   -  -   -  -  195,918  839,206  -  570,675  -  -   -  1,605,799  
Chinese Taipei  22,726   -   -  -   -  -    27,699  68,784  -  -  -   -  119,208  
Denmark   228,144   -   -  -   -  -       620,689  -  -  -   -  848,834  
Estonia  -   -   -  -   -  -      -  -  -  -   -  0 
European Union  -   -   -  -   -  -      -  -  17,724  -  35,156  52,880  
Finland  796,079   -   -  -   -  -    352,508  517,532  -  -  -  21,712  1,687,831  
France   901,687   -  998,509          103,808  168,725  -  -  -   -  2,172,728  
Germany   2,122,705   -   -  -   -  -  -    320,412  -  -  -   -  2,443,117  
Ireland  -   -  263,651          28,434   325,207  -  -  -  24,913  642,206  
Japan  330,326   -   -  -   -  -  -  -  58,964  -  -  -   -  389,290  
Korea, Republic of  605,435   -   -  -   -  -  -  -  -  -  -  -   -  605,435  
Liechtenstein  73,092   -   -  -   -  -  -  -  -  -  -  -   -  73,092  
Lithuania  -   -   -  -   -  -  -  -  -  -  -  -   -  0 
Luxembourg  -   -   -  -   -  -  -  -  -  -  -  -   -  0 
Netherlands  346,076   -   -  -   -  981,101  -    1,307,018  -    -    2,634,195  
New Zealand  -   -   -  -   -    -  38,949  -  -    -    38,949  
Norway  1,580,413   -   -  -   -    -  3,669,045   1,002,820  -    -  41,383  6,293,661  
Sweden  2,892,488   -   -  -   -  -  -  -   2,004,104  -  -  -  27,652  4,924,244  
Switzerland   124,906   -   -  -   -  -  -  -   46,031  -  -  -  22,999  193,936  
United Kingdom  -   -   -  -   -    -  294,739   501,817  -    -   -  796,557  
United States   1,293,378   -   -  -   -    -  35,568  291,635  -    -   -  1,620,581    
  WT/BFA/W/482  
 
- 78 - Funds/ donors  
Global Trust Fund  
Enhanced Integrated 
Framework  
French -Irish Mission 
Internship Programme  
Independent Entity  Pre 
shipment Inspection -
Deposit  
Program me Support Fund  
Netherlands Trainee 
Program me 
China Development 
Cooperation Research 
Fund  
Trade Facilitation 
Agreement Facility  
Standards and Trade 
Development Facility  
China LD Cs and 
Accessions Programme  
Data Set on Trade in 
Services by Sector and 
Mode of Supply  
Trust Fund for Natural 
Disasters and Trade  
MC Trust Fund for LDCs  
Total  
Organizations:  -   -   -  -   -  -  -  -  -  -  -  -   -  0 
UNOPS  -   413,773   -  -   -  -  -  -  -  -  -  -   -  413,773  
Others:  -   -   -  -   -  -  -  -  -  -  -  -   -  0 
Bureau Veritas 
International  -   -   -  17,613   -  -  -  -  -  -  -  -   -  17,613  
Cotecna International 
Ltd.  -   -   -  17,520   -  -  -  -  -  -  -  -   -  17,520  
Inchape Testing 
Services International 
Ldt.  -   -   -  17,615   -  -  -  -  -  -  -  -   -  17,615  
Inspectorate Griffith 
Ltd. -   -   -  17,613   -  -  -  -  -  -  -  -   -  17,613  
Société Général de 
Surveillance  -   -   -  17,454   -  -  -  -  -  -  -  -   -  17,454  
WTO Members  -   -   -     939,003  -  -  -  -  -  -  -   -  939,003  
Total  12,609,346  413,773  1,262,160  87,816  939,003  981,101  195,918  6,227,609  8,218,984  570,675  17,724  51,546  337,921  31,913,577  
 
 
 
 WT/BFA/W/4 82 
 
- 79 - 
 
  5.5.6   Schedule F  World Trade Organization – Program me Support Fund  
Table 82 WTO Program me Support Fund 
  2018  2017  
Opening Balance  1,023,582  996,324  
Income of the year  2,401,734  2,394,691  
Retrocession to other organizations  -396,606  -211,550  
Total income  3,028,710  3,179,465  
Salary costs  -1,890,342  -1,951,893  
Share of certain secretariat cost and 
other costs  -199,365  -203,989  
Total costs  -2,089,707  -2,155,882  
Closing balance  939,003  1,023,582  
 
Table 83 WTO Program me Support  Fund actual expenditure and overheads  
Funds  in CHF  Actual 
expenditure CHF  Overheads (PSF 
Income)  Actual 
expenditure 
CHF Overheads (PSF 
Income)  
  2018  2018  2017  2017  
Global Trust Fund  7,384,431           959,976  7,415,599         964,028  
Enhanced Integrated 
Framework - Executive 
Secretariat  3,891,418           505,884  3,628,335         471,684  
Mission Internship 
Programme           796,822           103,587  692,959          90,085  
11th Ministerial 
Conference - LDCs -8,867  -1,153  496,073          64,489  
Netherlands Trainee 
Programme                -                -  841,651         109,415  
Trade Facilitation 
Agreement Facility           611,141            79,448  518,600          67,418  
Standards and Trade 
Development Facility  5,344,798           694,824  4,007,216         520,938  
China LDCs and 
Acces sions Programme           284,489            36,984  560,244          72,832  
Data Set on Trade in 
Services by Sector and 
Made of Supply            74,345             5,204  97,460          12,670  
China Development 
Cooperation Research 
Fund 78,957  10,264  207,541          26,980  
Natural Disaster  and 
Trade Fund  51,659  6,716  -  -  
Total        18,509,192         2,401,734    18,465,678       2,400,5 39  
 
 
 
 
 
 WT/BFA/W/4 82 
 
- 80 - 
 
  Table 84 Overheads shared with other Organizations  for 2018  
Overheads shared with other organizations  Retrocession amount  
Asia Pacific Ass ociation  (STDF 634 - PPG) 1,838  
COLEACP (STDF 375  - PROJECT)  8,021  
COMESA (STDF 346)  12,162  
DAWR (STDF 432  - PROJECT)  20,060  
FAO (STDF 401)  -115 
FAO (STDF 431  - PPG) -1,117  
FAO (STDF 477  - PROJECT)  84,971  
FAO (STDF 503  - PROJECT)  60,229  
FEEDLATINA (STDF 345)  6,206  
IDELE (STDF 534 – PROJECT)  11,059  
IICA (STDF 502 - PROJECT)  29,482  
ITC (STDF 354)  -676 
ITC (STDF 447 - PROJECT)  44,518  
ISS (STDF 460  - PROJECT)  -734 
OIE (STDF 609  - PROJET)  4,648  
OIRSA (STDF 495 - PROJECT)  18,182  
OIRSA (STDF 515 - PROJECT)  79 
UNESCAP (TDA)  -1,455  
UNDP (STDF 242)  5,096  
UNIDO (STDF 435 - PROJECT)  94,151  
Total  396,606  
 
 
__________