WTO barometer shows goods trade is down

Industry News | | MIC Customs Solutions |

There has been disappointing news from the WTO's data department.

The latest Goods Trade Barometer from the World Trade Organization has shown that global trade in goods is likely to remain below trend during the current quarter.

According to the report, the reading stood at 96.6 for September, down from the 95.7 recorded in June. A reading of 100 would indicate growth.

The data showed international air freight, electronic components and raw materials to all have deteriorated below trend, which the WTO attributed to ongoing trade tensions and rising tariffs.

However, there was some positivity, as measures of export orders, automotive products and container shipping all managed to firm up into 'on-trend territory'.

The Goods Trade Barometer is a tool used to gauge momentum and look for potential turning points in global trade growth. It is published to complement other trade statistics from the WTO and its partner organizations.

This news comes after the WTO reduced its global trade growth projection for 2019 to the lowest level seen in a decade.