Value of global trade in goods and services in Q1 '22 up by about $1 trl

The value of world trade in goods and services in the first quarter of 2022 rose by about $1 trillion y/y to $7.7 trillion, the UN trade agency UNCTAD estimated.

"The value of global trade rose to a record $7.7 trillion in the first quarter of 2022, an increase of about $1 trillion from the first quarter of 2021," the report said.

UNCTAD estimated that growth is driven by rising commodity prices. Trade volumes increased to a much lesser extent.

"Rising interest rates and the unwinding of stimulus packages are likely to have a negative impact on trade volumes through the end of 2022," UNCTAD assessed. 

(PAP)