Tag
GLOBAL TRADE
The World Trade Organisation (WTO) in its trade outlook for 2024 has projected that exports from Africa will increase at the fastest pace in 2024 by 5.3% when compared with other regions.
Approximately 10% of global trade flow through the Red Sea is currently under threat after shipping giants like A.P. Moller-Maersk and Hapag-Lloyd announced the suspension of sea shipments through the Red Sea.
Global trade will decline in 2023 by about 5% from last year’s record as high borrowing costs weigh on economies.
Global trade of liquefied natural gas (LNG) reached a record high of 51.7 billion cubic feet per day (Bcf/d) in 2022, a 5% increase from the previous year.
The International Monetary Fund has warned members about the adverse effects of protectionism as a response to globalization, stating it would make the world less resilient, more unequal, and more conflict-prone.
Chinese manufacturers have seen their production costs rise significantly, to the highest since 2008, slashing corporate earnings.
The World Trade Organisation (WTO) has declared that global trade would experience its worst decline in 10 years as a result of the Coronavirus pandemic.