The World Trade Organization (WTO) published today (01.03.2023) its Merchandise Trade Barometer, which records a new decline, pointing to a drop in trade in the fourth quarter of 2022.
According to WTO data, "the global barometer index continues to point to a weakening of trade growth in volume terms, after falling from 96,2 to 92,2 compared to the previous publication, a figure that is well below below the reference value of 100«.
Global merchandise trade volume growth was suddenly strong in the third quarter of 2022, rising 5,6% year-on-year. However, the figure was well below the reference value of 100, indicating that goods trade had fallen below trend or would do so in the near future.
All Indices barometer components fell below trend levels, except for the commodity index automotive (105,8), which was boosted by above-trend sales and production figures in the US, Europe and Japan, which offset declines in China.
Reading the index of export orders of 97,4 also remained below the trend but was increasing, hinting at a possible rebound in the near future.
The indices for the container transport (89,3), the air freight (87,8), the Electronic components (84,9) and raw materials (92) were falling, suggesting that trade weakness was widespread and affected many sectors. (WTO Press Release)
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