The Merchandise Trade Barometer, which below 100 points denotes contraction of global trade, reached 99.5 points, The World Trade Organization (WTO) reported this Monday (15.11.2021/103/109.7), after reaching 110.4 points in February, XNUMX in May and XNUMX in August of this year.
After these increases, the Global supply chain problems, especially in sectors such as semiconductors or automobiles, have had an impact on the decline of this fundamental index that shows in advance the growth or decline of world trade, according to the WTO.
In this regard, the WTO explained that “recent supply shocks, including port congestion due to increased import demand in the first half of the year and the disruption of production of widely traded goods such as automobiles and semiconductors, have contributed to the decline in the barometer.”
All the indices that make up the barometer decreased in the last period. The most pronounced fall was observed in the automotive products index (85.9) and in the electronic components (99.6). Meanwhile, container shipping indices (100.3) and raw materials (100.0) continue their recent trends. And the air cargo index (106.1) remained firmly above trend as shippers sought substitutes for ocean freight.
“The outlook for global trade remains clouded by considerable downside risks, including regional disparities, continued weakness in services trade and lagging vaccination rates, especially in poor countries,” the WTO concluded. (WTO Press Release)
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
