WTO goods trade indicator stable as growth stagnates

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WTO goods trade indicator stable as growth stagnates

A worker sorts imported goods on a truck next to containers at a port in Qingdao, Shandong province, China October 14, 2019. REUTERS/Stringer/File Photo

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GENEVA, Aug 23 (Reuters) – The World Trade Organization said on Tuesday that its global goods barometer was stable, pointing to stagnant global trade growth following a COVID-19 triggered slowdown.

The Geneva-based body said its goods trade barometer was steady at 100 points, as the drag of the Russia-Ukraine conflict is offset by the relaxation of pandemic controls in China.

It said that global trade growth slowed to 3.2 % in Q1 from 5.7 % in the previous quarter, broadly in line with expectations. Future uncertainty has increased due to the ongoing conflict in Ukraine, rising inflationary pressures and further interest rate rises expected in wealthier countries, the WTO said.

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Reporting by Emma Farge, editing by Rachel More

Our Standards: The Thomson Reuters Trust Principles.

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