São Paulo – Merchandise trade could reach USD 19.6 trillion this year, up 10.4% over 2017, as per estimates from the UNCTAD Handbook of Statistics 2018 released this Wednesday (5) by the United Nations Conference on Trade and Development. Last year had seen global trade climb 10% compared with 2016 after going down for two years on end.
UNCTAD explains that factors driving trade in 2017 and 2018 include an upswing in the global economy and rising commodity prices – especially fuels, minerals and metals. The organization points out that the pickup in trade reflected in an increase in maritime transport.
The pickup in trade came mostly in the first half of 2018, since a slowdown began in the second half. This was so due to a slowing down of the world economy and to protectionist measures put in place by governments, especially those of the United States and China. The UNCTAD’s annually-released Handbook of Statistics has reached its 50th edition.
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Translated by Gabriel Pomerancblum
