The World Trade Organization stated that global goods trade followed a stagnant course in the first quarter of the year, but a possible return is expected in the second quarter of the year when looking at the future indicators.
The Global Commodity Trade Barometer Report is published by the World Trade Organization. In the related report, it was announced that the World Trade Organization Goods Trade Barometer's score, which was 92.2 in the previous reading, increased to 95.6, but remained below the basic value of 100. It was stated that although this increase remained below the trend, it should be perceived as positive and indicates that an increase in trade volumes has started.
The report states that the decline of 2.4% quarterly and 0.8% year-on-year in the last quarter of 2022 is due to several related factors, including persistently high inflation in advanced economies and tighter monetary policy globally, and the ongoing war in Ukraine. said to originate.
In the related report, it was pointed out that the reason for the stagnant course in the first quarter of 2023 was the decrease in ship traffic in Europe, although the epidemic restrictions were eased in China at the end of the year and the port traffic in the country was increased.
This process will follow a fluctuating course, but increases in export orders show that the demand for tradable goods increased in the second quarter of the year, and this is largely due to the forecast published by the World Trade Organization on April 5, which predicts a growth of 1.7% in world goods trade in 2023. overlap was recorded.
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