The World Trade Organization (WTO) said on Monday (18.11.2019) that it expects growth in global trade in goods to continue “below trend” in the fourth quarter, amid tariff tensions and rising taxes on key sectors.
The WTO's latest quarterly barometer showed that growth in world merchandise trade increased by 0,2% in the second quarter of this year against 3,5% in the same period in 2018.
"Some components of the barometer have stabilised since the last reading in August., while others remain on a downward trajectory reflecting increased trade tensions and increasing tariffs in key sectors,” he said.
The indices for export orders (97.5), automotive products (99.8) and container shipping (100.8) have consolidated in trend territory. However, the indices for International air cargo (93.0), electronic components (88.2) and raw materials (91.4) have deteriorated further below trend. Electronic components trade was the weakest of all, possibly reflecting recent tariff increases affecting the sector.
Official data confirm the loss of momentum in goods trade predicted by the Goods Trade Barometer earlier this year.
The Merchandise Trade Barometer provides real-time information on the trajectory of world merchandise trade volumes relative to recent trends.
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