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WTO says goods trade fell in Q3, Omicron raises risks

WTO says goods trade fell in Q3, Omicron raises risks
WTO says goods trade fell in Q3, Omicron raises risks Copyright Thomson Reuters 2021
Copyright Thomson Reuters 2021
By Reuters
Published on Updated
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GENEVA - 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."

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