Latest WTO goods barometer signals upturn in global trade
According to the World Trade Organization’s (WTO) latest Goods Trade Barometer, global goods trade showed signs of a turnaround in the second quarter of 2023, driven by strong automobile production and sales, but further upward momentum in Q3 and beyond may be limited as long as export orders remain weak.
China formally accepts the WTO Agreement on Fisheries Subsidies
The Government of China has formally accepted the World Trade Organization (WTO) Agreement on Fisheries Subsidies.
Global exports of intermediate goods dropped in fourth quarter of 2022
The World Trade Organization (WTO) reports that global exports of intermediate goods (IGs) fell by 10 per cent year-on-year in the fourth quarter of 2022 to US$ 2.3 trillion, reflecting the disruptions global supply chains faced in the closing months of the year due to the geopolitical context, commodity shortages, high energy prices and weak […]
Canada formally accepts the WTO Agreement on Fisheries Subsidies
The Government of Canada announced that it has formally accepted the World Trade Organization (WTO) Agreement on Fisheries Subsidies.
WTO members discuss the extension of the e-commerce duty moratorium
At a meeting on April 20, some Members of the World Trade Organization (WTO) shared perspectives on the current practice of not imposing customs duties on electronic transmissions. A WTO moratorium has exempted data flows from cross-border tariffs since 1998.
WTO expects world trade to grow at a slower pace in 2023
According to the latest forecast from World Trade Organization (WTO) economists, global trade growth in 2023 is still expected to be subpar despite a slight upgrade to GDP projections since last fall.
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 […]
WTO members discuss bolstering developing countries’ participation in global trade
WTO members discussed initiatives aimed at advancing integration of developing countries and least-developed countries (LDCs) into the global trading system, including in electronic commerce, at a meeting of the Committee on Trade and Development on 5 April. Members also reviewed two regional trade agreements among developing countries and were updated on the status of factual […]
WTO Trade Facilitation Agreement has increased trade by over US$ 230 billion
According to estimates for the first two of years of its implementation the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA) led to a US$ 231 billion increase in trade, particularly in agriculture.
Global exports of intermediate goods post sustained growth in second quarter of 2022
The World Trade Organization (WTO) reports that global exports of intermediate goods (IGs) grew 4% year-on-year in the second quarter of 2022 to US$ 2.5 trillion, driven by the increase in shipments of intermediate food products.