General

The latest report released by the World Trade Organization pointed out that the global trade in goods once ushered in a sharp rebound after the new crown epidemic, but now it is cold again. The World Trade Organization's global trade in goods barometer has a baseline reading of 100. The reading plummeted after the outbreak of the new crown epidemic. It fell to 84.5 in August last year, the lowest record since 2007, and the lowest point during the global financial crisis in 2008. . With the easing of the epidemic and the recovery of the global economy, the reading reached a record high of 110.4 in August this year, but in November it fell back to 99.5 below the baseline level.

u3000u3000 Reuters reported on the 16th that the World Trade Organization’s Trade in Goods Barometer collects statistics on trade in goods to provide early signals on the current trends and inflection points in world trade in goods and is updated every quarter. If the barometer reading is higher than 100, it means that the growth of global trade in goods is higher than expected, and if it is lower than 100, it means that it is lower than expected.

u3000u3000 The WTO believes that there are two main reasons why global trade in goods has cooled again. One is the disturbance of supply chain fluctuations, and the other is the decline in demand for goods. From the perspective of supply chain issues, on the one hand, there is a problem of logistics and transportation, especially the surge in global import demand in the first half of this year, which has caused congestion in many ports around the world; The industry has performed particularly prominently.

u3000u3000 It is reported that the recent decline in the number of export orders from many major trading countries in the world indicates that global demand for goods is declining. However, the WTO pointed out that although the decline in demand helped alleviate the problem of port congestion, there were too many delayed cargoes, and the global container throughput was still close to or maintained at a historical high. The WTO also believes that current global trade is still facing downside risks and regional trade imbalances, while global service trade continues to perform weakly.