Global trade continues to face choppy waters due to rising geopolitical tensions, ongoing regional conflicts, shifting monetary policies in industrialized economies like the United States and falling export orders, according to the World Trade Organization’s trade barometer released last week.
On a more positive note is a recovery in goods trade during the third quarter of 2024 after demand for traded goods stalled in 2023 when the US Federal Reserve hiked interest rates to fight inflation, the trade barometer suggested.
Issued ahead of the WTO’s annual Public Forum – a major public relations event taking place next week – the goods trade barometer put the latest index value at 103.
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