The outlook has darkened considerably. The World Trade Organization's (WTO) Merchandise Trade Barometer fell to 96,2 points, which reveals that trade growth would slow down in the last months of 2022 and in 2023.
The agency said that this drop is greater than its previous reading of 100, reflecting a "cooling demand for traded goods"caused by several related shocks, including the war in Ukraine, high energy prices and monetary adjustment in major economies.
According to the WTO, trade distrust is in line with its forecasts, which in October predicted that trade growth would slow from 4,7% in the second quarter of 2022 to 3,5% at the end of this year and 1% in 2023.
This world trade indicator, which provides real-time information on the trajectory of merchandise trade, is compiled using the average of six components.
Of these sub-indexes, only one, that of trade in the The automotive sector showed expansion (103,8 points), benefiting from strong demand in the United States and improved production in Japan, as well as the reduction of bottlenecks in the supply chain.
Meanwhile, the sub-indexes for export orders (91,7) and air cargo transport (93,3), as well as those for electronic components trade (91), maritime container transport (99,3) and raw materials exchanges, all contracted.Goods Trade Barometer)
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