On 30 November 2022, the World Trade Organization (WTO) released its latest edition of the World Trade Statistical Review, the WTO’s annual analysis of the most recent trends in global trade.
The World Trade Statistical Review 2022 looks at the effects of COVID-19 and the war in Ukraine on the global economy, commodity prices, international trade in goods and services, and supply chains.
The WTO Director-General, in the foreword to the Report, says: “The war, which started in February 2022, has weighed heavily on world trade, with sharp rises in commodity prices and disruptions in access to essential goods such as grain, gas, and fertilisers. The Black Sea Grain Initiative, a deal brokered by the United Nations and Türkiye to get trapped Ukrainian grain, as well as Russian food and fertiliser, to international markets, has delivered critical supplies to people in developing and other countries, and put downward pressure on world market prices. But prices remain high by historical standards in many countries, particularly in local currency terms.”
The publication looks into the strong, albeit uneven, recovery in global trade in merchandise and commercial services in 2021, mainly due to rising demand following the first wave of the COVID-19 crisis in 2020. It also highlights a decline in trade growth in the first half of 2022, reflecting the impact of the war in Ukraine, high inflation and lingering effects of the pandemic.
The analytical chapters are complemented by over 50 tables providing detailed breakdowns of merchandise trade and trade in commercial services.
The publication and datasets can be downloaded on the WTO’s website free of charge.