Global merchandise trade is continuing its robust recovery from the shock of the COVID-19 pandemic, as per the World Trade Organisation’ (WTO) Goods Trade Barometer, which hit a record high in its latest reading issued on Wednesday.
The latest barometer reading of 110.4 is the highest on record since the indicator was first released in July 2016, and up more than 20 points year-on-year, the Geneva-based 164-member multi-lateral body WTO said. The reading will augur well for India, as the country's exports are recording healthy growth rates. "The rise in the barometer reflects both the strength of current trade expansion and the depth of the pandemic-induced shock in 2020," it said adding the latest barometer reading suggests that goods trade will see an even larger year-on-year increase in the second quarter.
However, it said the outlook for world trade continued to be overshadowed by risks such as regional disparities, continued weakness in services trade, and lagging vaccination timetables.
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