India and China exhibited “very strong” quarter-over-quarter export performance as the decline in goods trade among major economies reversed during the first quarter of 2024, UN Trade and Development (UNCTAD) said in its report released on Tuesday.
In the first quarter of 2024, global trade continued its modest and gradual increase that began in the second half of 2023, fuelled by positive trade dynamics for the US amid moderating inflation and improving economic growth forecast.
“Overall, moderating global inflation and improving economic growth forecasts suggest a reversal of the downward macroeconomic trends that have characterised most of 2023. Additionally, rising demand for products related to energy transition and artificial intelligence should contribute to trade growth through 2024,” UNCTAD said. However, the global trade outlook for 2024 remains subject to downside…
