you are currently viewing::Global trade faces setback amid rising tariffsApril 16, 2025-The WTO Secretariat's latest Global Trade Outlook and Statistics report, issued today (16 April), comes at a time of growing uncertainty for the global economy- and with it, a sharp deterioration in the prospects for world trade.
The volume of world merchandise trade is projected to decline by 0.2 per cent in 2025- almost three percentage points lower than it would have been without the recent policy shifts. A modest recovery of 2.5 per cent is expected in 2026. This marks a notable reversal from forecasts earlier this year, when WTO economists anticipated continued trade expansion, supported by improving macroeconomic conditions. Source: WTO (World Trade Organization) |
April 17, 2025--What are trade balances?
Put simply, a trade balance is the difference between an economy's exports and its imports over a given period. When exports are higher than imports, we see a trade surplus. When the opposite is true, i.e. when the value of imports exceeds the value of exports, then a trade deficit is recorded.
When someone thinks about international trade, chances are they're thinking about cross-border trade in goods.
April 15, 2025--Highlights
Global oil demand growth for 2025 has been revised down by 300 kb/d since last month's Report to 730 kb/d, as escalating trade tensions have negatively impacted the economic outlook. Growth is expected to slow further in 2026, to 690 kb/d, but risks to the forecasts remain rife given the fast-moving macro backdrop. The downgrade comes on the heels of robust oil consumption in 1Q25, up by 1.2 mb/d y-o-y-its strongest rate since 2023.