Xinhua News Agency, Geneva, November 20 (Reporter Ling Xin) The World Trade Organization issued a report on the 20th that driven by the rapid growth of export orders, global trade in goods rebounded strongly in the third quarter of this year, but whether this growth trend will continue in the future Uncertainty.
The latest issue of the “Barometer of Trade in Goods” report released by the WTO on the same day showed that the global trade in goods boom index reached 100.7, a significant increase from the 84.5 released in August.
The WTO stated that in order to combat the new crown epidemic, blockades and travel restrictions were adopted in many places in the second quarter, resulting in a substantial reduction in global trade and production. With the relaxation of epidemic prevention and control measures, global trade in goods rebounded strongly in the third quarter. However, with the release of previously constrained market demand and the completion of corporate inventory replenishment, the growth of global trade in goods may slow down in the fourth quarter.
The WTO emphasizes that the current global trade situation is still highly uncertain. With the rebound of the epidemic in Europe and North America, many countries have again introduced blockade measures, which may trigger a new round of business closures or financial difficulties.
In October, the WTO predicted that global trade in goods will shrink by 9.2% this year and grow by 7.2% next year, but the scale of trade will be much lower than before the epidemic.
According to the compilation rules of the Global Goods Trade Prosperity Index, the value 100 is the base point. If the index reading in a certain quarter is 100, it means that the growth of global trade in goods is in line with the medium-term trend expectations. An index greater than 100 indicates that the growth of global trade in goods in the quarter was higher than expected, and vice versa, it indicates that the growth of global trade in goods was lower than expected.
Since September 2019, the WTO has released the “Barometer of Trade in Goods” report and “Barometer of Trade in Services” report respectively to replace the previous report on the Global Trade Prosperity Index.