Barometer of the World Trade Organization
The World Trade Organization has prepared this barometer based on various statistics including exports and sales. A score above 100 on this barometer means the business is strong. That is, if the score goes below 100, it means that the trade is weekly.
Supplementary codes
These barometers include not only total world trade, but also sub-indices that represent trade. Currently, according to the information published by the World Trade Organization, the code for export orders is 91.7, the code for air cargo is 93.3, and the code for electronic goods is 91.
Therefore, these sub-indices indicate that international demand has decreased. On the other hand, the container freight (shipping) index stands at 99.3. The raw materials index stands at 97.6.
Automobile trade
Only the index for automobile goods was above 100 at 103.8. This is mainly due to the strong increase in auto sales in the US. Also, exports of vehicles from Japan have risen.
Global economic recession
The global economy has been facing a crisis for the past few months. The starting point was the start of war between Ukraine and Russia in February. Due to this, the price of crude oil in the international market has gone up wildly.
As a result, the prices of petrol, diesel, gas and natural gas have skyrocketed in the international market. As a result, inflation rose uncontrollably in many countries.
In order to control inflation, many countries including India and America have been raising interest rates. As a result, investments have decreased. Many companies are downsizing to cut costs.
As a result, there are fears that a global recession could develop in the coming months.