The WTO said that global trade is accelerating from the last year drop, although there are regions which are lagging. One of the major reasons for the lag is the unequal roll out of vaccinations.
The WTO said its goods trade barometer had surged to 109.7 points in May, (with a baseline of 100), which was 103.9 in February and the low of 88.1 in the second quarter of 2020, when global goods trade volume fell 15.5%.
The WTO further said that in the latest month, all of the barometer’s component indices were above trend and rising, highlighting the broad-based nature of the recovery and signalling an accelerating pace of trade expansion. This the improvement was however uneven, with a concentration of the (unevenness) in poor countries.
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