WTO: Global Trade Rebounds In Q3 As Lockdowns Eased
The World Trade Organization said the global merchandise trade rebounded strongly in the third quarter after plunging amid the Covid-19 pandemic.
The Goods Trade Barometer, a real-time gauge of trends in global trade, rose to 100.7 in the third quarter from 84.5 registered last August.
The index reading greater than 100 suggests above-trend growth, while those below 100 indicate below-trend growth.
The indicator signaled a strong rebound in trade in the third quarter as lockdowns were eased, but growth is likely to slow in the fourth quarter as pent-up demand is exhausted and inventory restocking is completed.
The WTO observed that renewed lockdowns in Europe and North America could lead to another round of business closures and financial distress.
According to WTO forecast, world merchandise trade volume will fall 9.2 percent this year. This outcome would require a sharp rebound in the third quarter, following the 17.2 percent annual decline registered in the second quarter.