WTO warning! Global trade growth or continued to slow in the third quarter

Release time:

2019-08-19

According to Reuters, the World Trade Organization (WTO) said on Thursday that its latest economic indicators showed that the growth of merchandise trade in the third quarter may slow further.

It is understood that the quarterly trade growth index released by the WTO is 95.7, indicating that the growth of global merchandise trade may slow down. In its last quarterly report, released in May, the trade growth index was 96.3, and the WTO said trade growth was likely to remain weak.

The index is a composite measure of seven drivers of trade, with readings below 100 indicating that trade growth is below trend growth.

Referring to its mid-year report released in July, the WTO said trade flows had been hit by new restrictions at historically high levels. "Tensions leading to increased trade barriers and rising uncertainty pose significant downside risks to trade growth expectations," the WTO added.

The agency said the continued weakness in the latest index was due to the fact that all sub-indices were below trend levels.

The WTO spending, international air cargo and electronic components sub-indices are currently reading well below their previous levels, while the auto production and sales and agricultural raw materials sub-indices appear to have bottomed out.

(Source: Zhongxin Jingwei)

The head of the Foreign Trade Department of the Ministry of Commerce talks about China's foreign trade from January to July 2019

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