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‘It’s Taking A Toll’: WTO Says Merchandise Volume Flatlines While Singapore Exports Plunge 8th Consecutive Month

"Insidious".

The WTO on Monday warned that the trend in global trade remains sluggish as tensions persist despite some progress on a resolution to the spat between the US and China. The body's Goods Trade Barometer (a real-time gauge of the trajectory of world merchandise trade volumes) improved marginally from August, but still sits "well below" the baseline value, signaling below-average growth, the organization said Monday, in a press release warning that tensions are "taking their toll". In September, the WTO slashed their forecast for trade growth this year to just 1.2%, a full percentage point below April's projection. Around the same time, the OECD decried the trade war as "insidious" in the course of downgrading their outlook. In October, the IMF followed up, cutting its global growth projection for the fifth time in a year. "According to the latest WTO quarterly trade volume statistics, merchandise trade rose by only 0.2% year-on-year in the second quarter of 2019, compared with 3.5% in the same quarter of last year", the full report reads. Although a few of the main barometer's component indices have stabilized, several others have tanked further, in a sign that persistent fri
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