This issue of transport tracker talks about the current status of global trade which is currently undergoing a big transition – The ongoing trade tensions have prompted the companies to make new decisions.
The World Trade Organization’s trade-growth outlook for 2019, already revised down to 4.4 percent, now stands at 3.7 percent. Escalating trade tensions amid various government’s restrictive trade policies began having an impact in the first quarter of 2018, making the weaker 2019 forecast foreseeable. Disruption appears to be far from over and the risk of geopolitical tension and natural disasters will continue to affect upcoming 2019 forecasts. Trading volume hit its highest peak since 2011 during 2017.This was mainly driven by cyclical factors and increased investment. The global economy has staggered a bit during 2018 and trade is expected to expand at a slower rate than previously forecast. Merchandise trade volume is expected to grow by 3.9 percent.
Please read to know how global trade is shaping up the transport and logistics industry.