NEW DELHI, Nov 14: Global trade is likely to start picking up from last quarter of this year on account of modest gains in export orders and container shipping, the WTO has said.
According to WTO’s World Trade Outlook Indicator, “global trade will pick up slightly in the fourth quarter of 2016”.
It has said that the “air freight in particular has shown quite strong recent growth, while export orders and container shipping have recorded more modest gains.”
Pick up in the trade would have positive implications for India as the country’s exports have started recovering. The outbound shipments grew by 4.62 per cent to USD 22.9 billion in September.
Since December 2014, exports fell for the straight 18 months till May 2016 due to weak global demand and slide in oil prices. Shipments witnessed growth only in June this year thereafter again entered into negative zone in July and August.
It said that with a current reading of 100.9 for the month of August, the WTO’s indicator has risen above trend, signalling accelerating trade growth in November-December.
In September, the Geneva-based multi-lateral body has for the third time lowered its global trade growth forecast for this year to 1.7 per cent, stating that this slowdown is “serious” and should serve as a “wake-up call” for nations. (PTI)
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