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WTO says goods trade fell in Q3, Omicron raises risks
Published by maria gbaf
Posted on December 21, 2021
1 min readLast updated: January 28, 2026
Global Banking & Finance Review®
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Published by maria gbaf
Posted on December 21, 2021
1 min readLast updated: January 28, 2026
The WTO reported a 0.8% decline in global goods trade in Q3, with Omicron raising risks to 2021 growth forecasts due to supply chain issues.
GENEVA (Reuters) – The World Trade Organization said on Monday that global merchandise trend fell by 0.8% in the third quarter, adding that the emergence of the Omicron coronavirus variant had raised the risk of missing the forecast 2021 growth rate.
Trade volume slipped between July-September due to supply chain disruptions, shortages of production inputs and rising COVID-19 cases, the WTO said in a statement on its website.
A 2021 growth target could theoretically still be met, it said, but the emergence of Omicron has “tipped the balance of risks towards the downside, increasing the chance of a more negative outcome.”
(Reporting by Emma Farge; Editing by Maria Sheahan)
The main topic is the WTO's report on the decline in global goods trade in Q3 and the impact of the Omicron variant on trade forecasts.
The emergence of Omicron has increased the risk of missing the 2021 growth forecast, tipping the balance of risks towards a more negative outcome.
Supply chain disruptions, shortages of production inputs, and rising COVID-19 cases contributed to the decline in trade volume.
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