WTO Goods Barometer indicates global merchandise trade is slowing

According to the World Trade Organization’s (WTO) latest Goods Trade Barometer global merchandise trade is slowing, with production and supply disruptions in critical sectors dampening growth alongside cooling import demand.

The return to trend follows the record reading of 110.4 in the previous barometer issued in August, which reflected both the strength of the trade recovery and the depth of the pandemic-induced shock last year.

The WTO notes that recent supply shocks, including port gridlock arising from surging import demand in the first half of the year and disrupted production of widely traded goods such as automobiles and semiconductors, have contributed to the barometer’s decline.

The Goods Trade Barometer is a composite leading indicator providing real-time information on the trajectory of merchandise trade relative to recent trends ahead of conventional trade volume statistics.

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