World Trade Organization's World Trade Barometer predicts slower growth in 2022 and 2023 . Decline in index attributed to Ukraine war, high energy prices, monetary tightening in major economies .
According to the most recent World Trade Barometer (WTO) Goods Trade Barometer, global trade growth is predicted to slow in the final months of 2022 and into 2023 as the global economy is engulfed by strong winds.The Goods Trade Barometer is a composite leading indicator for global trade, providing real-time data on the progress of merchandise trade relative to recent trends.Values greater than 100 indicate above-trend expansion, while values less than 100 indicate below-trend expansion, according to the World Trade Organization (WTO).The decline in the index could be attributed to the war in Ukraine, high energy prices, and monetary tightening in major economies, according to the WTO.Negative readings in sub-indices indicating export orders (91.7), air freight (93.3), and electronic components (91.0) were weighed down by negative readings.All of these metrics show a weaker global import demand, with container shipping (99.3) and raw materials (97.6) indices falling just slightly below the trend but showing an increase in exports from Japan as demand improved and the yen began to depreciate, according to the Goods Trade Barometer.