Goods barometer rises above trend, signalling upturn in trade volume

Global goods trade has continued to recover in the third quarter of 2024 after demand for traded goods stalled in 2023 amid high inflation and rising interest rates, according to the latest WTO Goods Trade Barometer. Despite the positive signal from the barometer index, the outlook for trade remains highly uncertain due to rising geopolitical tensions, ongoing regional conflicts, shifting monetary policy in advanced economies and weakening export orders.