Global trade trends turned positive with the value of trade in goods in the first quarter of 2024,

By Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Global trade trends turned positive in the first quarter of 2024, with the value of trade in goods increasing by around 1% quarter-over-quarter and services by about 1.5%.

This surge, fueled by positive trade dynamics for the United States and developing countries, particularly large Asian developing economies, is expected to add approximately $250 billion to goods trade and $100 billion to services trade in the first half of 2024 compared to the second half of 2023.

Global forecasts for GDP growth remain at around 3% for 2024, with the short-term trade outlook being cautiously optimistic.

Source: newsthemegh.com