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Trade Expanded as Import Restrictions Loomed
- Global goods trade continued to expand rapidly in the five months from October 2024 through February 2025 amid a spurt in demand fueled by expectations of higher import restrictions in the US.
- Trade in services, which is reported two months after goods, expanded further in the October to December period, and international tourist arrivals recovered to exceed pre-pandemic levels.
- Stress in global supply chains remained high in March 2025, driven by the increase in goods trade. Container-fleet expansion helped restrain shipping costs amid supply-chain pressures.