The World Trade Organization (WTO) revealed that the global merchandise trade has slowed after a sharp recovery in the wake of the initial shock of the Covid-19 pandemic, with disruptions in production and supply and a pause in import demand that undermined growth.
According to the WTO, its measure of merchandise trade fell to 99.5 points in November, following a record reading of 110.4 in August. It also showed that supply shocks, including severe port congestion are caused by a jump in import demand in the first half of the year and disruption to production of goods such as cars and semiconductors.
The organization noted that the reading was broadly in line with its expectations for an increase of 10.8 percent in merchandise trade volumes this year and a slower increase of 4.7 percent in 2022. According to the organization, the outlook for global trade is still clouded by downside risks, regional disparities and the continued weakness of services trade.
Source (Al-Arabiya.net Website, Edited)
