The World Trade Organization (WTO) is recently out with its latest Global Trade Barometer report, which includes the chart below, showing year-over-year changes in global trade volumes in merchandise:
Source: WTO
As can be seen, trade volumes soared in Q2 2021, coming off very weak numbers in 2020.
But growth has been trending down since, falling to just 3.2% in Q1 2022.
What's in store for Q3 and Q4? The WTO is sticking with its forecast of 3.0% growth for all of this year, which would mean numbers close to those seen in Q1 for Q2, Q3 and Q4.
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