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According to data from the first quarter of 2024, trade grew "modestly and gradually" in the start of the year. Quarterly, trade in products grew by 1% and trade in services by 1.5% from January to March. Trade between the United States and developing nations, particularly China and India, was the primary driver of the expansion. Improved estimates for economic growth and a decline in worldwide inflation also aided in the rise of commerce.
The majority of sectors saw increases in shipments from January to March, according to UNCTAD. It was very potent in fabrics, metals, chemicals, and medications. Trade in communications and transportation equipment was the only one to fall.
Analysts point out that the current protectionist policy framework of the countries is unique in that it is supporting commodity groups whose demand is predicted to increase quickly in the coming years, in addition to industries that are "traditionally" dependent on state investments. This primarily relates to high-tech goods, whose market share could decline in the future owing to regulations if it doesn't show signs of quick expansion.
source: unctad.org
The majority of sectors saw increases in shipments from January to March, according to UNCTAD. It was very potent in fabrics, metals, chemicals, and medications. Trade in communications and transportation equipment was the only one to fall.
Analysts point out that the current protectionist policy framework of the countries is unique in that it is supporting commodity groups whose demand is predicted to increase quickly in the coming years, in addition to industries that are "traditionally" dependent on state investments. This primarily relates to high-tech goods, whose market share could decline in the future owing to regulations if it doesn't show signs of quick expansion.
source: unctad.org
