The World Trade Organization expected that the growth rate of global merchandise trade would slow down by the end of this year and the beginning of next year, due to the obstacles that the global economy is still facing.
“The global economy continues to face major headwinds, as the current reading of the merchandise trade index indicates that it records 96.2 points below the average of the benchmark index, which reflects the slowdown in goods sold,” the organization said in a statement issued today, pointing out that its expectations indicate a growth in the volume of trade. Global in 2022 by 3.5 percent, and in 2023 by only 1 percent.
The statement indicated that this index was affected by the consequences of the conflict in Ukraine, high energy prices and tightening monetary policy in major economies, as the values of sub-indicators decreased, especially export orders by 91.7 points, air transport by 93.3 points and electronic products by 91 points, pointing out that their combined decline indicates a deterioration in morale. Business and weak global import demand.
The statement indicated that the exception was the auto index, which rose 103.8 points higher than the baseline, with an increase in US car sales, an increase in exports from Japan, as supply conditions improved and the yen continued to weaken.
Follow SANA's news on Telegram https://t.me/SyrianArabNewsAgency