WTO report says global goods trade to grow at moderate pace in fourth quarter
Date
12/10/2024 2:15:03 AM
(MENAFN) The World Trade Organization's (WTO) Goods Trade Barometer, released on Monday, shows that global goods trade has been expanding at a moderate pace in the fourth quarter of 2024. The barometer's latest reading of 102.7 indicates that trade volumes are above trend, suggesting continued growth. A reading above 100 signifies that trade is performing better than expected, while readings below 100 imply a potential slowdown or contraction.
The WTO's data suggests steady growth in trade through the fourth quarter, although the outlook is uncertain due to rising economic challenges and potential changes in trade policy. While the global trade outlook remains positive, economic conditions such as geopolitical risks and shifting trade policies may influence future performance.
The barometer includes several component indices, all of which are currently above trend, indicating positive growth. Notably, automotive products (104.0), container shipping (105.8), air freight (102.9), export orders (100.5), and raw materials (100.5) are showing healthy growth. However, the electronic components index (96.5) is the only component below trend, suggesting a potential dip in that sector.
The WTO's previous trade forecast, issued on October 10, projected a global trade growth rate of around 2.7 percent for 2024, with growth expected to reach 3.0 percent in 2025. The continued expansion of global goods trade through the end of 2024 supports this positive but cautious forecast.
MENAFN10122024000045015839ID1108974896
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.