Global Recession: India's international trade was the least affected by the fear of recession, revealed in the report

Posted on 18th Nov 2022 03:05 pm by rohit kumar

Compared to the top 10 economies of the world, India's international trade has not been affected to a great extent by the apprehension of a global recession. This is a positive scenario, according to the latest Global Trade Monitor report by S&P Global Market Intelligence.

 

According to the report, apart from India, the world's ten largest economies in terms of GDP are US, EU 27, Mainland China, Japan, UK, India, Brazil, South Korea, Canada and Russia. These countries of the world account for about 80 percent of the global GDP.

 

 

Their share in global exports is three fourth i.e. 75 percent. Most of the trade in the world happens between these countries. Part of the report states that the impact of the global economic slowdown on international trade may be visible in the coming few months.

 

Monthly historical data shows that exports of most of the world's top 10 major economies are declining. According to the PMI Nexo report, the situation still remains positive in terms of imports, but in the coming months, both imports and exports may register a decrease.

 

Also Read: US Fed: The governor of the US Fed said – there may be a slight increase in interest rates during the next meeting

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