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

Brazil: Supporters of former President Bolsonaro storm Parliament House-SC, PM Modi expresses concern

Jair Bolsonaro supporters attack Presidential Palace: Prime Minister Narendra Modi (PM Narendra M

PM Modi: Tahawwur Rana was on PM Modi's target since 2011, now a 14-year-old tweet is going viral

After the extradition of Tahawwur Rana to India, an old tweet of Prime Minister Modi from the yea

Raj Shekhawat of Kshatriya Karni Sena, who demanded the encounter of Lawrence Bishnoi, was beaten up! Know the truth of the viral video.

After Kshatriya Karni Sena president Raj Shekhawat announced a reward for the policeman who kille

Pune Car Crash: 'I was drunk on the night of the accident, I don't remember anything now'; said the minor accused during police interrogation

Two people lost their lives in a car accident in Pune, Maharashtra. The darkest aspect of the acc

Tahawwur Rana: Rana had helped Headley in getting an Indian visa, he had come to India before the Mumbai attack

Mumbai terror attack conspirator Tahawwur Rana had helped co-conspirator David Komlan Headley to

Property worth 200 crores of Jamaat-e-Islam sealed in Kashmir: Organization gives funding to separatists in the valley; Lashkar-e-Taiba commander's property also attached

The State Investigation Agency (SIA) on Sunday sealed properties worth Rs 100 crore of Jamaat-e-I

On the orders of CM Yogi, one lakh square meters land was freed from encroachment in Lucknow, and 1320 illegal constructions were demolished in Akbarnagar in 8 days

In perhaps the biggest action to date, one lakh square meters area of ​​the flow area of ​â

Donald Trump: 'Whoever imposes more tax, we will impose the same tariff on them', Trump set April 2 as the deadline, also named India

While addressing the Congress, US President Donald Trump placed India, China, South Korea and man

No mobile, no TV for two hours in Maharashtra village: Kids go inside as soon as the siren sounds

When we had just reached the village, a siren started blaring. Children playing on the roads were

Russian President Vladimir Putin : Putin's address to the nation after the rebellion of the Wagner Group, said - the victory of the solidarity of the Russian citizens

Russian President Vladimir Putin thanked the nation for its unity after the uprising was over. Th