Global trade hits record $7.7 trillion in first quarter of 2022 – report

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The value of global trade rose to a record $7.7 trillion in Q1 2022, an increase of about $1 trillion relative to Q1 2021, according to UNCTAD’s Global Trade Update published on Thursday. The growth, which represents a rise of about $250 million relative to Q4 2021, is fuelled by rising commodity prices, as trade volumes have […]

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Ukraine war cuts global growth prospects by 1% – UNCTAD

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The UN’s trade and development body has downgraded its global economic growth projection for 2022 to 2.6% from 3.6% due to the Ukraine war and to changes in macroeconomic policies made by countries in recent months. In an update to its Trade and Development report, UNCTAD says that while Russia will experience a deep recession this […]

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Asia-Pacific partnership set to create new ‘centre of gravity’ for global trade

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A new Asia-Pacific free trade agreement set to enter into force on 1 January 2022 will create the world’s largest trading bloc by economic size, according to an UNCTAD study published this week. The Regional Comprehensive Economic Partnership (RCEP) includes 15 East Asian and Pacific nations of different economic sizes and stages of development. They are Australia, […]

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More countries depend on commodity exports than before – report

Commodity dependence increased over the last decade from 93 countries in 2008–2009 to 101 in 2018–2019, according to UNCTAD’s State of Commodity Dependence 2021 report released this week. The nominal value of world commodity exports reached $4.38 trillion in 2018–2019, a 20% increase compared with 2008–2009, the report shows. “Commodity dependence makes countries more vulnerable to negative […]

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Global foreign direct investment set to partially recover in 2021, but uncertainty remains

Global foreign direct investment (FDI) flows are expected to bottom out in 2021 and recover some lost ground with an increase of 10% to 15%, according to UNCTAD’s World Investment Report 2021 released Monday. FDI flows plunged globally by 35% in 2020, to $1 trillion from $1.5 trillion the previous year, the report says. Lockdowns caused […]

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Global trade’s recovery from COVID-19 crisis hits record high

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World trade’s recovery from the COVID-19 crisis hit a record high in the first quarter of 2021, increasing by 10% year-over-year and 4% quarter-over-quarter, according to UNCTAD’s Global Trade Update. According to the report, the impressive rebound in Q1 2021 continued to be driven by the strong export performance of East Asian economies, whose early success […]

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WEEKLY WRAP UP – Structural transformation, need of the hour

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The COVID-19 crisis has been both an accelerator and a decelerator for already rooted trends in the global economy. On the downside, the pandemic hit amidst widening inequality, declining economic prospects, mounting vulnerabilities to climate change, and a weakened multilateralism. On the upside, expanding the transformative productive capacities of all could form the core of […]

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Global trade drops 5% in third quarter of 2020 : UNCTAD

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Global trade recorded a 5% drop in the third quarter of this year compared with the same period last year, according to an UNCTAD report. This marks an improvement on the 19% year-on-year plunge recorded in the second quarter, and the frail recovery is expected to continue in the fourth quarter, with a preliminary forecast […]

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