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Global trade showed positive growth in the first quarter of 2023 after experiencing a consecutive decline in the previous two quarters, according to data from the latest "Global Trade Update" released by the United Nations Conference on Trade and Development (UNCTAD) on June 21.
The report revealed that global merchandise trade increased by 1.9 percent in the first three months of 2023 compared to the fourth quarter of 2022, which represents an increase of approximately $100 billion. Global services trade also grew by about $50 billion, with a quarter-on-quarter growth of around 2.8 percent. However, despite this positive growth, development prospects remain subdued for the rest of the year.
Mixed performance can be seen in merchandise trade among the world's major economies over the past four quarters. Brazil, India, the United States, and the European Union witnessed significant growth in both imports and exports. However, when considering quarter-on-quarter trend, trade performance of these major economies during the January to March period of 2023 appeared weaker, while China and India experienced notable export growth.
Although the report highlights positive growth in global trade in the first quarter of 2023, the persistently subdued development prospects serve as a reminder of the challenges and uncertainties that persist in the global trade landscape.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466