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

Auto Taxi Strike: Four lakh auto-taxis will not ply on the roads in Delhi-NCR today, people's problems will increase due to the strike

Auto Taxi Strike: If you have to go for some important work in NCR today Thursday and tomorrow Fr

'I will come on your birthday...', the TCS manager had promised this; sister revealed big secrets about her sister-in-law.

The family is in shock due to the suicide of Agra's TCS recruitment manager Manav Sharma (28). Si

One Nation One Election: How long have simultaneous elections been held in the country, and why are Lok Sabha and Assembly elections being held separately?

The discussion of 'One Country One Election' has started once again in the country. A committee w

MEA: 'Relationship with them is different from the rest, the reason for this...', Jaishankar told why the distance between India and China is increasing, know

External Affairs Minister S Jaishankar said that India wants to ensure that its relations with al

IND vs AUS Pitch Report: Batsmen will rule in Visakhapatnam or bowlers will wreak havoc, understand the mood of the pitch through statistics.

IND vs AUS Pitch Report: After the ODI World Cup, it is the turn of T-20 cricket. Team India will

Liquor policy scam: Today is the last day of Kejriwal's judicial custody, CBI's fourth charge sheet will also be heard

Today is the last day of judicial custody of Chief Minister Arvind Kejriwal in the CBI case relat

Kane Williamson: ICC Test Rankings Kane Williamson becomes the number one batsman, Steve Smith in second place just one point behind

There has been a shocking change in the latest ICC Test rankings. Kane Williamson, who was sideli

Forcibly applying colors on Holi is prohibited, and action will be taken if people go out on bikes in groups; Police have issued order

Hyderabad and Cyberabad police have issued a guideline regarding Holi. According to the police no

Hindi Row: 'Hindi was the third compulsory language even during the Congress period, DMK never made Tamil...'; BJP on three language controversy

The language dispute in Tamil Nadu is deepening. Now BJP's Tamil Nadu unit president K Annamalai

Madrasa students will be deployed in Hindu temples and Durga Puja pandals, Bangladesh government's order, know why this step was taken?

Violence against Hindus in Bangladesh has not stopped yet. Meanwhile, there is a possibility of v