Quantcast
WTO goods trade indicator hits record high, reflecting strong recovery – Metro US

WTO goods trade indicator hits record high, reflecting strong recovery

FILE PHOTO: World Trade Organization (WTO) logo in Geneva
FILE PHOTO: World Trade Organization (WTO) logo in Geneva

BERLIN (Reuters) – The World Trade Organization said on Wednesday its global goods barometer hit a record high, confirming the strength of trade’s recovery after the deep shock caused in 2020 by the COVID-19 pandemic.

The Geneva-based body said its goods trade barometer rose to 110.4 points, the highest since the indicator was first released in July 2016 and up by more than 20 points year-on-year.

“The rise in the barometer reflects both the strength of current trade expansion and the depth of the pandemic-induced shock in 2020,” the WTO said on its website, adding the outlook for world trade continues to be overshadowed by downside risks.

(Reporting by Madeline Chambers and Thomas Escritt)

More from our Sister Sites