News » UNCTAD “very uncertain” on 2022 global trade outlook

UNCTAD “very uncertain” on 2022 global trade outlook

The global trade growth forecast for 2022 remains “very uncertain” because of the slow economic recovery, logistical disruptions, and the increase in shipping costs, according to a report by the United Nations Conference on Trade and Development (UNCTAD). 

The Global Trade Update noted that the economic recovery slowed down during the second half of 2021 due to a downcast of trade trends, rising commodity prices, and inflation.

The report added that the COVID-19 related disruptions experienced currently by several economies may “negatively affect consumers’ demand and ultimately be reflected in trade statistics for the upcoming quarters.”

Other factors in the “uncertain” economic outlook include the shortage in global semiconductor shortage, geopolitical factors and the regionalization of trade flows, governmental policies affecting international trade, and debt burdens.

UNCTAD said that global trade is expected to reach about US$28 trillion by year-end, up 23% year-on-year, due to subsiding pandemic restrictions, economic stimulus packages, and increases in commodity prices. 

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.