World exports are set to slow down: WTO

‘Global trade growth will likely slow in the final months of 2022 and 2023’. This is what the latest World Trade Organization Goods Trade Barometer says.

This may be a result of world economy countries facing significant headwinds, including the war in Ukraine, high energy prices, inflation, and monetary tightening in major economies.

Negative readings in sub-indices representing export orders (91.7), air freight (93.3), and electronic components weighed on the index (91.0). According to a media report, these factors point to a cooling of business sentiment and a weakening of global import demand.

The container shipping (99.3) and raw materials (97.6) indices finished slightly below trend but have since lost steam.

The main exception, according to the report, is the automotive products index (103.8), which rose above trend due to higher vehicle sales in the United States and increased exports from Japan as supply conditions improved and the yen continued to fall.

The Goods Trade Barometer is a composite leading indicator for global trade that provides real-time data on the trajectory of merchandise trade in relation to recent trends. Values above 100 indicate above-trend growth, while values below 100 indicate below-trend growth. It is published quarterly, depending on data availability.

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