Tuesday, November 30, 2021

NEWS

Intermediate goods exports increased in Q2 of 2021

Intermediate goods exports increased in Q2 of 2021

Geneva, Nov 4 (Prensa Latina) Global exports of intermediate goods (IG), such as parts and components, rose by 47% year-on-year rise in the second quarter of 2021, the World Trade Organization (WTO) reported.
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According to a new WTO quarterly report, the increase sustains the upward trend in IG exports registered during the Q1 2021 and exceeded the 2019 levels prior to the Covid-19 pandemic.

Africa reported the highest growth in IG exports and stood at 88% due to strong increases in sales of metals and precious stones, the WTO reported.

Latin America rates second with a 53% increase, strongly related to a strong rebound in purchases of raw materials such as iron and copper ores.

China sustained a high growth in the IG supply and demand (around 40%).

Exports of transportation equipment also ramped up to 69% and reached the highest level in the Q2 of 2021, compared to previous period.

However, food and beverage exports increased only 29%.

IG exports is an indicator of activity in supply chains, severely affected in the early stages of the Covid-19 pandemic crisis.

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