WTO: trade in goods is slowing down, supply problems and cooling demand inhibit growth

By yqqlm yqqlm

, China, November, 16, according to Reuters, the World Trade Organization (WTO) said on the 15 day that global merchandise trade is slowing down after COVID-19’s initial shock and rebound, because production and supply disruptions and import demand cooling have restrained growth. p>

the WTO said that its goods trade index fell to 99.5 points in November, close to the baseline level of 100; It hit a record high of 110.4 in August

WTO: trade in goods is slowing down, supply problems and cooling demand inhibit growth

the trade agency said the decline was due to supply shocks, including port congestion caused by the surge in import demand in the first half of the year and the interruption of production of goods such as cars and semiconductors

the demand for trade goods is also slowing down, as shown by the decline in export orders

“cooling import demand may help alleviate port congestion, but as long as container throughput remains at or near record levels, backlog and delays are unlikely to be eliminated,” the WTO said

the WTO said that the reading is roughly in line with the forecast, that is, the volume of commodity trade will rise by 10.8% in 2021 and the growth will slow down to 4.7% in 2022

the WTO said that the prospect of world trade continues to be shrouded in the haze of downward risks, regional differences and continued weakness in service trade

the WTO said that all sub indexes of its cargo trade indicators showed a decline, of which the decline of automobile product index was the largest, and only the air transport index was steadily higher than the trend

the index of electronic components, container transportation and raw materials is at or close to 100, indicating that the growth is in line with the medium-term trend

the goods trade index of WTO is a comprehensive data, which aims to predict the turning point and measure the momentum of Global trade growth, rather than providing a specific short-term forecast