THE TRADE MONITORING UPDATE - 08 JULY 2024
Summary: The Trade Monitoring Update highlights key developments in global trade over the period from mid-October 2023 to mid-May 2024. The report indicates that WTO members introduced more trade facilitative measures (169) than trade restricting measures (99) on goods, emphasizing the ongoing commitment to maintaining trade flow despite geopolitical uncertainties. Import restrictions saw a notable increase, surpassing export restrictions for the first time since 2021. Notably, there was a significant rise in economic support measures, particularly those related to industrial policy, renewable energy, climate change, and national security.
Key Findings:
Global Trade Outlook:
Trends in Trade Measures:
Additional Insights:
Conclusion: The report underscores the resilience of global trade amidst geopolitical challenges and highlights the role of trade facilitation measures in supporting economic recovery. It also emphasizes the importance of monitoring trade policies to ensure transparency and maintain the flow of international commerce.