Global goods trade indicates possible turnaround in Q2 of 2023: WTO

Global goods trade is expected to witness a turnaround in the second quarter of this year due to a recent pickup in export orders, the WTO said on Wednesday.

According to the WTO's Goods Trade Barometer, preliminary data suggest that trade remained depressed in the first quarter of 2023.

"But the recent pickup in export orders points to an increase in demand for traded goods in the second quarter," it added.

TRENDING NOW

Vande Bharat Sleeper Train interior design images out - Check launch date and other details

Suzlon shares hit new 52-week high

Sebi to introduce centralised mechanism for verification in case of demise of investors from January 1

RVNL, Titagarh Systems, Raymonds: Stocks to watch out for on Wednesday

CCI approves Kedaara Capital Fund's acquisition of 1.74% equity stake in Lenskart, also clears acquistion of majority stake in Indira IVF by Zonnebaars

ICC World Cup 2023 Opening Ceremony: Event called off, or still on? Here's all we know

Competition Commission of India approves proposed acquisition of Lanco Amarkantak Power Limited

Google Pixel 8 launch event live streaming: When and where to watch, check date and timing details

Amazon begins Kickstarter sale ahead of Great Indian Festival: 5 top smartphone deals offering upto 50% off

Top-5 mutual funds that have given the highest returns year to date

ICC World Cup 2023: Disney+ Hotstar introduces MaxView feature to stream matches in vertical mode - Details

AMFI rejig: IRFC, Polycab and Jio Financial Services among others may enter large-cap category, says Nuvama

Canada not looking to escalate situation with India, will continue to "engage responsibly": Justin Trudeau

Google Pixel 8 Launch 2023: Check date, time, expected new features, and price

Maruti Suzuki production dips 1% in September

These results are broadly consistent with the WTO's most recent trade forecast issued on April 5, which projects 1.7 per cent growth in world merchandise trade in 2023.

The WTO's (World Trade Organisation) expectation augurs well for India, which is struggling to push its outbound shipments.

India's exports contracted by 12.7 per cent, the third month in a row, to USD 34.66 billion in April even as the trade deficit reduced to a 20-month low of USD 15.24 billion, the government data showed.