Global trade in goods is expected to pick up gradually this year
According to latest “Global Trade Outlook and Statistics” report from the World Trade Organization global merchandise trade is expected to pick up gradually this year following a contraction in 2023 that was driven by the lingering effects of high energy prices and inflation.
WTO extends duty moratorium on e-commerce transmissions
Members of the World Trade Organization (WTO) concluded the 13th Ministerial Conference (MC13) in Abu Dhabi on March 2nd with little results as agreements could not be reached on most major issues such as subsidies on fisheries and dispute resolution.
Trade growth to slow to 1.7% in 2023 following 2.7% expansion in 2022
Global trade growth in 2023 is still expected to be subpar despite a slight upgrade to GDP projections since last fall, WTO economists said in a new forecast on 5 April. Weighed down by the effects of the war in Ukraine, stubbornly high inflation, tighter monetary policy and financial market uncertainty, the volume of world […]
Goods barometer declines further, hinting at fourth quarter trade slump
World merchandise trade growth appears to have lost momentum in the fourth quarter of 2022 and is likely to remain weak in the first quarter of 2023, according to the latest WTO Goods Trade Barometer issued on 1 March. The overall barometer index continues to point to weakening trade growth in volume terms after falling […]
