August 25, 2020
According to the World Trade Organization (WTO) Goods Trade Barometer, world merchandise trade registered a historic fall in the second quarter of 2020, but additional indicators point to partial upticks in world trade and output in the third quarter.
The current barometer reading of 84.5 is 15.5 points below the baseline value of 100 for the index and 18.6 points down from the same period last year.
All of the barometer's component indices remain well below trend, with many registering historic lows, although some have begun to stabilize. Indices for automotive products (71.8) and air freight (76.5) are by far the worst on record since 2007. Container shipping (86.9) also remains deeply depressed.
Export orders (88.4) show signs of recovery as this index has turned upward. Meanwhile, indices for electronic components (92.8) and agricultural raw materials (92.5) have held up relatively well, showing only modest declines.
The full Goods Trade Barometer is available here.