Goods Barometer: Signs of the global economy slowing down in 2023, what do WTO figures say?

Posted on 29th Nov 2022 03:20 pm by rohit kumar

Global trade growth is likely to slow down in the latter months of 2022 and 2023 as the world economy remains mired in strong headwinds. Data from the World Trade Organization's Goods Trade Barometer confirm this. Currently, the Goods Trade Barometer Index reading is 96.2.

 

 

The Goods Trade Barometer is an overall leading indicator for world trade, providing real-time information on trade relative to recent trends. A value greater than 100 indicates an uptrend, while a value less than 100 indicates a downtrend.

 

The World Trade Organization (WTO) said on Monday that the decline in the index could be attributed to the war in Ukraine, high energy prices, and monetary tightening in major economies. The sub-indices representing Export Orders (91.7), Air Freight (93.3), and Electronic Components (91.0) showed negative readings. Also, these figures show sluggishness in the business world and weakness in global imports.

 

Small declines in the Container Shipping (99.3) and Raw Materials (97.6) indices, but these sectors have certainly lost momentum. The main exception on this barometer is the Automotive Products Index (103.8), which has risen above the trend due to strong vehicle sales in the United States. Exports from Japan also increased as supply conditions improved. The yen continued to depreciate during this period. Explain that the Goods Trade Barometer is released every quarter based on data availability.

 

Also Read: Apple Unrest: 20000 newly hired workers stop work in Apple's largest plant, and production affected

Other news

Pakistan expresses apprehension of infiltration into Jammu from slave Kashmir, advises India to be on high alert

Pakistan, which has reached the brink of starvation, is not desisting from its antics. He has all

Pi Day 2023: Maths Day is celebrated on March 14 at 1.59 pm because of Pi value 3.14159, this is the theme of this year

International Mathematics Pi Day 2023: Today, March 14, is International Mathematics Day. Due to

Punjab Flood: Actor-singer Amy Virk became the messiah for the flood victims in Punjab, adopted 200 affected houses

Many districts of the Punjab state are facing the brunt of floods these days, in which many house

Modi Cabinet Ministers List: Nadda's entry, Smriti and Anurag Thakur out, 5 allies also get place in Modi cabinet, read important points

Narendra Modi took oath as Prime Minister for the third consecutive time at Rashtrapati Bhavan. M

Jagdeep Dhankhar Resignation: Dhankhar broke protocol to meet the President; he had to wait for half an hour

Vice President Jagdeep Dhankhar broke protocol and submitted his resignation to President Draupad

Delhi Water Crisis: A big relief from the Supreme Court on the Delhi water crisis, orders given to Himachal Pradesh to release 127 cusecs of water

On Thursday, the Supreme Court has given a big decision on the petition filed regarding Delhi's w

Lok Sabha Election: CM Yogi Adityanath's helicopter lost its way, was coming to address the election meeting in Bihar

The helicopter of Uttar Pradesh CM Yogi Adityanath, who was coming to address an election rally i

Heavy Rain in Delhi-Noida: Roads flooded due to rain, and heavy traffic jams on many routes; These pictures of Delhi-NCR will surprise you

Heavy Rain in Delhi- Heavy rain in NCR caused heavy waterlogging on the roads. Due to heavy water

Pakistan Turkey Relief Fund: Pakistan is helping Turkey, 50% salary of Balochistan officials cut

In Turkey and Syria, there was an earthquake of 7.8 magnitudes in the past. The tremors of this e

Stone pelting on Vande Bharat train in Visakhapatnam: CCTV being scanned to nab the accused, PM Modi to flag off on January 19

The incidents of stone pelting in the Vande Bharat Express train in the country are not taking th