Geneva, 24 February 2022 (TDI): The recent reading of 98.7 is under the barometer measure value of 100 and down somewhat from the previous November’s reading of 99.5.
This shows a sign of a loss in the momentum of trade at the start of 2022 following the last year’s solid reflection in trade capacities. Though, the index has also revealed the indications of the lowest point.
It implies that products trade may go up shortly even if it remains under trends in the near period. The Goods Trade Barometer is an important indicator of actual statistics on the path of stock trade relative to current trends of conventional trade volume figures.
Reading of 100 indicates development in line with medium-term trends. Whereas values more than 100 advocate above-trend development. Likewise, a value below 100 indicates the opposite.
The continuing supply chain is unsettling, the barometer’s weakness is partially described by the outline of health limitations to fight the Covid-19 variant of Omicron.
Some nations are now fighting the Omicron variant of Covid-19. In the same vein, the new variant’s health effect has turned out to be comparatively lesser then the ones before it.
Moreover, relaxing these measures could increase trade in the coming months, the future variants of Covid-19 remain the risk to economic activity and trade all around the world.
The volume trade in the initial three quarters of 2021 was above 11.9 % compared to the initial three quarters of 2020. WTO’s recent prediction of 10.8 % from previous October, to be more precise.
However, it is a relatively slower year-on-year development in the fourth quarter, hence, must bring the rise for the year additional in line with the prediction.
The barometer’s element indicating the near to their measure value of 100 signifying on-trend development the main prospects being automotive goods (92.0) and container delivery (97.2).
