The World Trade Organization (WTO) reported that the volume of world trade in goods rose by a seasonally adjusted 1.1% from the previous quarter and 3.3% from a year ago in the third quarter of 2024, marking the fourth consecutive period of mild trade expansion.
Publish dateSaturday 14 December 2024 - 22:39
According to Amac News: Based on the WTO’s report, in comparison, the trade of goods at the current price of the US dollar increased by 4.3% in the third quarter compared to last year, which is a significant improvement compared to the increase of 1.8% in the second quarter and the decrease of 1.4% in the first quarter.
For the year to September, trade volume rose 2.4% from the same period in 2023, slightly below the WTO's recent forecast of a 2.7% increase for 2024.
At the same time, the value of trade in goods increased by 1.6% compared to 2023. The slower growth of trade in terms of value relative to volume reflects a slight decline (less than 1%) in the prices of traded goods during this period.
The WTO said that a projected 2.7% increase in global merchandise trade volume in 2024 is achievable if quarterly growth in the fourth quarter continues around the same rate as in the third quarter.
However, the near-term outlook for trade is affected by rising global trade tensions.
For the year to September, trade volume rose 2.4% from the same period in 2023, slightly below the WTO's recent forecast of a 2.7% increase for 2024.
At the same time, the value of trade in goods increased by 1.6% compared to 2023. The slower growth of trade in terms of value relative to volume reflects a slight decline (less than 1%) in the prices of traded goods during this period.
The WTO said that a projected 2.7% increase in global merchandise trade volume in 2024 is achievable if quarterly growth in the fourth quarter continues around the same rate as in the third quarter.
However, the near-term outlook for trade is affected by rising global trade tensions.
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Source : news agency wam
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