World trade will grow by 5.4% in 2022

Disruptions in the global supply chain may remain high until the second half of 2022 due to the re-outbreaks of the Covid-19 virus around the world and China's continued the zero-Covid policy, according to the Euler Hermes Report on Global Trade and the volatility of demand and logistics during the Chinese New Year. Nevertheless, the trade credit insurer expects trade growth to remain strong between 2022 and 2023, with some clear winners by regions and sectors.

Overall, global trade by volume (volume) is expected to grow 5.4 percent in 2022 and 4.0 percent in 2023.

Euler Hermes estimates that in 2022, the energy, electronics, and machinery, and equipment sectors should still see an improvement in their results. However, the main winner of global exports in 2023 should be the automotive sector, thanks to the product backlog and lower capital expenditure in 2021. At the regional level, Asia and the Pacific should remain the main export winners in the coming years (over $3 trillion in profit from exports in 2021-2023).

Europe, including Central and Eastern Europe and Poland, is experiencing an additional consumption impulse and is likely to stay above the trend.

(WBJ)