Latest news with #GlobalTradeOutlookandStatistics
Gulf Today
10-08-2025
- Business
- Gulf Today
World merchandise trade projected to grow 0.9% in 2025: WTO
World merchandise trade is now projected to grow 0.9% in 2025, up from the -0.2% contraction forecasted in April but down from the 2.7% estimate pre-dating the tariff increases. The upgrade is mostly due to frontloading of imports in the United States, WTO economists said in a forecast update. However, higher tariffs over time will weigh on trade, bringing next year's expected trade volume growth down to 1.8% from 2.5% previously. A surge of imports in the United States in the first quarter ahead of widely anticipated tariff hikes contributed to the upward revision to the forecast for 2025 issued in the April Global Trade Outlook and Statistics report. Increased tariffs—including those that took effect this week—will dampen trade in the second half of 2025 and in 2026. WTO Director-General Ngozi Okonjo-Iweala said: 'Global trade has shown resilience in the face of persistent shocks, including recent tariff hikes. Frontloaded imports and improved macroeconomic conditions have provided a modest lift to the 2025 outlook. However, the full impact of recent tariff measures is still unfolding. The shadow of tariff uncertainty continues to weigh heavily on business confidence, investment and supply chains. Uncertainty remains one of the most disruptive forces in the global trading environment.' Asian economies are projected to remain the largest positive driver of world merchandise trade volume growth in 2025, although their contribution in 2026 will be smaller than predicted in April. North America will weigh negatively on global trade growth in both 2025 and 2026, but its negative impact this year will be smaller than previously estimated due to stronger-than-expected frontloading of imports in the US in the first quarter. Meanwhile, Europe's contribution to trade in 2025 has gone from moderately positive to slightly negative. Other regions, including economies whose exports are largely energy products, will see their positive contribution to trade growth shrink between 2025 and 2026 as lower oil prices reduce export revenues and dampen import demand. The higher tariffs that came into force on 7 August will weigh increasingly on trade, but this will be balanced against positive impacts from frontloading and inventory accumulation, which will have to be unwound at some point. Positive tailwinds have also come from an improved macroeconomic climate, although this is subject to a high degree of uncertainty. WAM
The Star
15-07-2025
- Business
- The Star
Global merchandise trade surges in Q1, slowdown expected: WTO
GENEVA, July 15 (Xinhua) -- Global merchandise trade volume posted strong growth in the first quarter of 2025, but the pace of expansion is expected to slow later in the year, the World Trade Organization (WTO) said on Tuesday. According to the latest data released by the WTO, the volume of world merchandise trade rose by 3.6 percent quarter-on-quarter and 5.3 percent year-on-year in the first quarter, driven largely by a surge in imports in North America in anticipation of higher tariffs in the United States. However, WTO economists expect the growth momentum to ease in the coming months as fully stocked inventories and increased tariffs begin to weigh on import demand. In its Global Trade Outlook and Statistics report released in April, the WTO forecast a 0.2 percent decline in global merchandise trade volume for 2025, warning of serious downside risks stemming from the reintroduction of U.S. "reciprocal tariffs" and spillovers from trade policy uncertainty. Tuesday's data revealed notable regional disparities in trade performance during the first quarter, particularly on the import side. North America recorded the strongest quarter-on-quarter import growth of any region at 13.4 percent, followed by Africa at 5.1 percent, the WTO said. On the export side, the Middle East led with 6.3 percent quarter-on-quarter growth, followed by Asia at 5.6 percent. In terms of product categories, trade in office and telecom equipment posted the highest year-on-year growth at 16 percent, followed by chemicals at 12 percent, and clothing at 7 percent. In contrast, trade in automotive products, fuels and mining products, and iron and steel declined. The WTO also noted signs of a slowdown in import activity in the second quarter. While U.S. imports surged 25 percent year-on-year in the first quarter, growth slowed dramatically to just 1 percent in the first two months of the second quarter.
Time of India
26-06-2025
- Business
- Time of India
Worse trade outcomes possible if uncertainty spreads globally, warns WTO
New Delhi: Global goods trade posted a strong uptick in early 2025 but weakening export orders suggest that this momentum may not be sustained, the World Trade Organisation ( WTO ) Thursday said in its Goods Trade Barometer . The uptick was driven by importers frontloading purchases ahead of anticipated higher tariffs. The barometer rose to 103.5 up from 102.8 in March while the forward-looking new export orders index fell to 97.9 pointing to weaker trade growth later in the year. The barometer is a composite leading indicator for world trade, providing real-time information on the trajectory of merchandise trade relative to recent trends. Year-on-year growth in the world merchandise trade turned positive the fourth quarter of 2023 and strengthened in 2024 as falling inflation and lower interest rates boosted real incomes and consumption. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo 'Year-on-year trade growth eased in the fourth quarter of 2024 but new trade volume indices set for release in July are expected to show a rebound in Q1,' WTO said. Live Events The Global Trade Outlook and Statistics report of April predicted stable merchandise trade growth of 2.7% in 2025 under a low-tariff baseline scenario, and a decline of 0.2% in an adjusted forecast reflecting higher tariffs and rising trade policy uncertainty . 'Policy shifts since April have nudged the forecast up and down, but worse outcomes are still possible if uncertainty spreads globally,' it said.
Mid East Info
21-04-2025
- Business
- Mid East Info
His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade
The UAE continues to benefit from its strategic trade policies. It has expanded its network of trade and investment partners around the world through the Comprehensive Economic Partnership Agreements (CEPA) program, which has helped the UAE consolidate its position as a vital trading nation in the global economy and a gateway for the flow of trade in goods and services around the world. The Global Trade Outlook and Statistics report issued by the World Trade Organization confirmed the UAE's increased importance in international trade. The country's non-oil foreign trade continues to grow, and its share in the trade of goods and services globally increases. The UAE ranks 11th and 14th globally in goods exports and imports with a value of $603 billion and $539 billion respectively. The UAE also ranks 13th and 21st in exports and imports of services, with a value of US$176 billion and US$106 billion respectively. The UAE's foreign trade of goods and services continued to benefit from the expansion of the country's CEPA Program, which began to be implemented at the end of 2021. Under the program, 27 agreements have been concluded so far with countries and economic blocs of strategic importance to the global economy. Of those, 8 agreements have already entered into force. The program contributed to raising the country's profile as a global trading hub. According to data issued by the World Trade Organization, the UAE has steadily risen in its rankings. The UAE rose 6 places in goods exports between 2021 and 2024. As for goods imports, the UAE rose 4 places between 2021 and 2024. The UAE has also grown in importance in the services trade, rising 2 places in exports between 2021 and 2024. As for digital services trade, in 2024 the UAE ranked 21st with a value of US$52 billion, contributing 1.1% of the world's exports of digital services, compared to US$48 billion in 2023, US$37 billion in 2021 and US$29 billion in 2019. This vital sector of the economy contributes 30% of the UAE's total services exports to the world. The UAE's policy of further openness to the world in trade and investment benefits the national economy, especially the non-oil sectors that make up the knowledge and innovation-based industries of the future. The UAE is committed to free, rules-based international trade as a catalyst for global economic growth and development.
Zawya
21-04-2025
- Business
- Zawya
Global Trade Outlook and Statistics report – World Trade Organization 16 April 2025
The UAE continues to benefit from its strategic trade policies. It has expanded its network of trade and investment partners around the world through the Comprehensive Economic Partnership Agreements (CEPA) program, which has helped the UAE consolidate its position as a vital trading nation in the global economy and a gateway for the flow of trade in goods and services around the world. The Global Trade Outlook and Statistics report issued by the World Trade Organization confirmed the UAE's increased importance in international trade. The country's non-oil foreign trade continues to grow, and its share in the trade of goods and services globally increases. The UAE ranks 11th and 14th globally in goods exports and imports with a value of $603 billion and $539 billion respectively. The UAE also ranks 13th and 21st in exports and imports of services, with a value of US$176 billion and US$106 billion respectively. The UAE's foreign trade of goods and services continued to benefit from the expansion of the country's CEPA Program, which began to be implemented at the end of 2021. Under the program, 27 agreements have been concluded so far with countries and economic blocs of strategic importance to the global economy. Of those, 8 agreements have already entered into force. The program contributed to raising the country's profile as a global trading hub. According to data issued by the World Trade Organization, the UAE has steadily risen in its rankings. The UAE rose 6 places in goods exports between 2021 and 2024. As for goods imports, the UAE rose 4 places between 2021 and 2024. The UAE has also grown in importance in the services trade, rising 2 places in exports between 2021 and 2024. As for digital services trade, in 2024 the UAE ranked 21st with a value of US$52 billion, contributing 1.1% of the world's exports of digital services, compared to US$48 billion in 2023, US$37 billion in 2021 and US$29 billion in 2019. This vital sector of the economy contributes 30% of the UAE's total services exports to the world. The UAE's policy of further openness to the world in trade and investment benefits the national economy, especially the non-oil sectors that make up the knowledge and innovation-based industries of the future. The UAE is committed to free, rules-based international trade as a catalyst for global economic growth and development.
