The World Trade Organization (WTO) says its monitoring, called the Goods Trade Barometer, showed that the volume of world trade in goods slowed to 3.2% in the first quarter of 2022, down from 5.7% in the fourth quarter. of 2021.
In addition, the institution predicts that year-on-year trade growth could slow even further.
“The slowdown in the first quarter only partially reflected the impact of the conflict in Ukraine, which erupted in late February. The lockdowns in China also weighed heavily on trade in the first quarter,” the WTO says in a report.
“However, the overall barometer remains below an index representing actual merchandise trade volumes, suggesting that year-on-year trade growth could slow further, but remain positive once official Q2 statistics are available, with trade simultaneously burdened by the conflict in Ukraine and boosted by the lifting of Covid-19 lockdowns in China,” he adds.
The Commodity Trade Barometer is a composite indicator for world trade, providing real-time information on the trajectory of commodity trade in relation to recent trends.
“The latest Barometer was stable but below the recent trend line for merchandise trade, suggesting that global merchandise trade continued to grow in Q2 2022, but that the pace of growth was slower than Q1. ”, he says.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
