Goods trade remained weak and services expanded; logistics stress climbed
- Goods trade remained weak in the fourth quarter of 2023, capping the slowest year of growth for global commerce outside of a recession in the past 50 years.
- Trade in services grew robustly in the fourth quarter, partly making up for the decline in goods. Travel services exceeded pre-pandemic levels, but international tourist arrivals were yet to recover completely, particularly in Asia.
- Global container capacity stress and shipping rates surged amid persisting disruptions from the Red Sea attacks.
🔽 Get the latest Trade Watch report! 🔽
NEW: Trade Watch data visualization and download.