WTO: Relaxing measures in the pandemic may increase trade

The WTO has released its Global Merchandise Trade Barometer February Report.

The WTO Barometer for Trade in Merchandise fell from 99.5 points in November last year to 98.7 points in February, the report said.

In pointing out that the said score is below 100, which is the basic value of the barometer, it was stated in the report that this indicates a loss of momentum in trade at the beginning of 2022, after the strong recovery in trade volumes last year.

In the report, it was stated that the index showed signs of bottoming out at the same time, indicating that trade in goods could rise even if it stays below the trend in the near term.

In the report, which noted that the ongoing supply chain disruptions, as well as the introduction of restrictions to fight against the Omicron variant in the Covid-19 outbreak, were also effective in the decline, the assessment included, "The relaxation of these measures may increase trade in the coming months, but future Covid-19 variants continue to pose risks for economic activity and trade."

The report said supply disruptions dampened the strength of the recovery in global merchandise trade, but that could start to change as supply chain pressures show some signs of easing.

Readings above 100 on the barometer indicate growth above the trend, while readings below 100 indicate below-trend growth. The WTO Global Trade in Merchandise Barometer is published four times a year.