The World Trade Organization (WTO) noted that global exports of intermediate products registered a year-on-year increase of 4% and they rose to USD 2,5 trillionin the second quarter of 2022, driven by “food and beverages.”
It should be noted that intermediate products are the inputs used to produce a final product and are an indicator of activity in global supply chains.
On that basis, while global growth increased at a slower pace than in the same period of the previous year, the WTO report confirms stable activity in global supply chains.
The international organization also noted that the share of intermediate products in total trade - excluding fuels - remained at 50% during the period analyzed, a proportion that has remained constant for ten years.
Sectors
As indicated below, the product category “food and drinks” contributed significantly to the growth of trade within supply chains, increasing by 20% year-on-year.
Meanwhile, global exports of “other industrial supplies"covering a wide range of manufacturing inputs, such as metal structures, electrical conductors and medical products, increased by 9%; and those of parts and accessoriesTransport expenditure grew by 1%.
In contrast, global exports of minerals, precious stones and earth Rare goods fell 11 percent year-on-year, reflecting falling iron ore prices, and parts and accessories excluding transportation equipment fell XNUMX percent.
Prominent
Un Analysis by region showed that compared to the first quarter, South and Central America recorded the highest export growth at 22%, due to massive seasonal soybean exports from Brazil, mainly to China.
In fact, Brazil ranked 13th among the main exporters of intermediate producers in the second quarter of 2022, with an 8% growth, mainly due to soybean exports, and representing USD 61 billion.
Meanwhile, the 9% growth observed for North America It is linked to the 74% increase in US gold exports, particularly to Europe and Asia.
Intraregional trade flows
Finally, the WTO indicated that as well as the global growth of intermediate goods, the year-on-year increase in most intraregional and interregional trade flows was minor in the second quarter of 2022 compared to previous quarters.
A detail on this exchange: exports of intermediate goods to South and Central America accounted for the largest share of interregional flows (100% year-on-year). Namely, African exports of urea and ammonium to the fertilizer industry in Brazil were the most dynamic. (WTO Briefing Note)
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