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Q1 shows growth in global goods trade post-2023 stagnation
Posted on July 5, 2024 |
Global merchandise trade volume rose in Q1 2024 after a stagnant 2023.
Both exports and imports increased by 1% on average compared to the previous quarter.
Year-on-year, trade volume grew by 1.4% in Q1 2024.
Most regions contributed positively to the trade volume increase, except for Europe, which saw ongoing declines in exports and imports.
The WTO predicts a 2.6% growth in world merchandise trade volume for April 2024, with a further increase to 3.3% expected in April 2025.
The US dollar value of global merchandise trade fell by 2% year-on-year in Q1 2024.