According to the World Trade Organization’s (WTO) latest Goods Trade Barometer, global goods trade appeared to remain steady in the fourth quarter of 2024 and looked set to continue growing in the first months of 2025.
The WTO Goods Trade Barometer ticked up to 102.8, nearly unchanged from the previous reading of 102.7. However, increased trade policy uncertainty and the prospect of new tariffs could weigh on trade in the medium term.
In the third quarter of 2024 – the latest period for which WTO data is available – the volume of world merchandise trade continued to recover from the trade slump of 2023, growing 3.3 per cent year-on-year.
All of the barometer’s component indices are currently on or above trend. Export orders (101.0), electronic components (102.3) and raw materials (101.6) are on trend, while indices for automotive products (105.5), container shipping (103.7) and air freight (102.7) are above trend to varying degrees.
