New Delhi: Global goods trade is expected to remain below trend in the last quarter of 2019, according to the World Trade Organisation’s Goods Trade Barometer.
The Goods Trade Barometer provides real-time information on the trajectory of world merchandise trade volumes relative to recent trends.
The indices for international air freight, electronic components, and raw materials have all deteriorated further below trend, the WTO said.
Electronic components trade was weakest of all, possibly reflecting recent tariff hikes affecting the sector, it added.
The forecast does not augur well for India that saw a contraction in exports for the third month in a row in October by 1.11 per cent to USD 26.38 billion.
In September, WTO economists downgraded their trade growth expectations for 2019 to 1.2 per cent, down from the 2.6 per cent forecast in April.
They attributed this substantial deceleration to slowing economic growth, increased tariffs, Brexit-related uncertainty, and the shifting monetary policy stance in developed economies.