GLOBAL trade in goods and services will likely slow in 2022 from a chaotic pace in 2021, reports Bloomberg News.
Inflation pressures in the US and real-estate instability in China are the main reasons why.
The United Nations Conference on Trade and Development (UNCTAD) declared international commerce finished last year with an annual record of US$28.5 trillion.
The figure represented a 25 per cent jump over 2020 and a 13 per cent jump over 2019.
Trade in goods increased 27 per cent from a year earlier while services gained 17 per cent.
'The positive trend for international trade in 2021 was largely the result of increases in commodity prices, subsiding pandemic restrictions, and a strong recovery in demand due to economic stimulus packages,' said UNCTAD's report.
'As these trends are likely to abate, international trade trends are expected to normalise during 2022.'
The US trade deficit in goods widened to 5.2 per cent of global merchandise trade compared with 4.3 per cent before the Covid crisis, while China's surplus rose 4.5 per cent share versus 3.5 per cent.
SeaNews Turkey
Inflation pressures in the US and real-estate instability in China are the main reasons why.
The United Nations Conference on Trade and Development (UNCTAD) declared international commerce finished last year with an annual record of US$28.5 trillion.
The figure represented a 25 per cent jump over 2020 and a 13 per cent jump over 2019.
Trade in goods increased 27 per cent from a year earlier while services gained 17 per cent.
'The positive trend for international trade in 2021 was largely the result of increases in commodity prices, subsiding pandemic restrictions, and a strong recovery in demand due to economic stimulus packages,' said UNCTAD's report.
'As these trends are likely to abate, international trade trends are expected to normalise during 2022.'
The US trade deficit in goods widened to 5.2 per cent of global merchandise trade compared with 4.3 per cent before the Covid crisis, while China's surplus rose 4.5 per cent share versus 3.5 per cent.
SeaNews Turkey
