Q1 shows growth in global goods trade post-2023 stagnation

Posted on July 5, 2024   |  

Global merchandise trade volume rose in Q1 2024 after a stagnant 2023.

Both exports and imports increased by 1% on average compared to the previous quarter.

Year-on-year, trade volume grew by 1.4% in Q1 2024.

Most regions contributed positively to the trade volume increase, except for Europe, which saw ongoing declines in exports and imports.

The WTO predicts a 2.6% growth in world merchandise trade volume for April 2024, with a further increase to 3.3% expected in April 2025.

The US dollar value of global merchandise trade fell by 2% year-on-year in Q1 2024.