The World Trade Organisation (WTO) released yesterday (9th December) data indicating that global goods trade was continuing to “expand at a moderate pace in the fourth quarter of 2024”.
This expansion of global goods trade was calculated based on the WTO’s Goods Trade Barometer which provides real-time information on the trajectory of goods trade relative to recent trends. Of the six components that make up the Barometer, the container shipping component was performing most above trend with a score of 105.8. The WTO explains that any barometer reading that is greater than 100 is associated with above-trend trade volumes. For context, the latest reading was 102.7 hence the outcome that trade should continue to grow steadily through the fourth quarter of 2024.
The WTO's forecast shows that trade volume growth for the whole of 2024 should come in at around 2.7%. However, the WTO declares that the “prospects for trade in 2025 are uncertain” due to the potential impacts of “possible trade policy shifts”.
If you would like more information on the WTO’s Goods Trade Barometer and how it came to the conclusion, click here.
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