Asjadul Kibria |
Published:
August 27, 2022 20:55:51
After a strong rebound last year, there was an expectation that global trade would be on the path of steady growth in the current year. However, the Russia-Ukraine war, starting in late February, dimmed the optimism to some extent. Though there was a sign of robust growth in global goods trade in the early period of the current year, a slowdown is now visible. The good news is that there is no indication of negative global trade growth, meaning that the world economy is on a firm footing in the post-Covid period.
In the first quarter of the current year, the value of global trade rose to a record US$7.7 trillion, according to the United Nations Conference on Trade and Development (UNCTAD). Global merchandise trade jumped by around $1 trillion over the same period of last year. The trade value in the January-March period of the current year also increased by $250 billion…
