The World Trade Organization (WTO) indicated that global goods trade remained at a low level in the first quarter. However, entering the second quarter, the situation might rebound. WTO’s preliminary data showed that the recent export orders went up, which meant demand for traded goods increased.

According to the latest report, the value of the barometer index rose to 95.6, increasing from 92.2 in March but still below the baseline value of 100.

The volume of merchandise trade in the fourth quarter of 2022 decreased by 2.4% quarter on quarter and fell by 0.8% year on year. The Russia-Ukraine war, high global inflation, and tighter monetary policy caused the situation.