WTO sees weak rise in global trade
Print Edition
GLOBAL trade is set to grow weakly in the third quarter, showed a new indicator launched by the World Trade Organization in Shanghai yesterday.
The World Trade Outlook Indicator, unveiled ahead of a meeting of G20 trade ministers in the city over the weekend, came in at 99 for the current period, indicating that global trade growth will continue to be sluggish in the third quarter.
A reading of 100 means trade growth in line with recent trends, one over 100 sees above trend growth, and one under 100 is below trend growth.
“We live in a period of economic volatility and low growth. As the indicator shows there are no immediate signs of a significant change in the coming months,” said WTO Director-General Roberto Azevedo.
WTO expects global trade growth to remain below 3 percent this year for the fifth consecutive year.
The indexes for export orders and agriculture raw materials stayed above trend. Auto output and sales were in line with the trend. Air freight and container port traffic lagged behind the trend.
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