After record-high years, global trade has taken a dip. Energy prices are high, interest rates are through the roof, and inflation is taking its toll. This is not to mention the impact of Ukraine on many surrounding countries that relied on it. But, recently ports and many shipping companies have adjusted for the better, and new trade agreements have been signed
The UN agency said, "trade in goods and services is expected to reach $25 trillion and $7 trillion respectively, by the end of the year."
https://news.un.org/en/story/2022/12/1131657
I wonder if a lot of this has to do with the pandemic. Many economical factors dropped drastically and had to fight it's way back up. In this case, it looks like global trade is making adjustments.
ReplyDelete