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Shadows for world trade in 2023

Shadows for world trade in 2023

Havana, Dec 30 (Prensa Latina) World trade in 2023 will face more shadows than lights, a panorama currently marked by persistent geopolitical tensions, the conflict in Ukraine, increasing energy prices and sustained global inflation.

A recent report by the United Nations Conference on Trade and Development (UNCTAD) warns these factors are compounded by the tightening of financial conditions, a fact that adds pressure on highly indebted countries.

This issue, according to UNCTAD, intensifies vulnerabilities in the weakest economies and has a negative impact on investments and international trade flows.

But amid this scenario, the high uncertainty surrounding global supply chains persists, the organization warns.

This may lead to changes in impact mitigation strategies, including supplier diversification and offshoring trends, both proximate and friendly, the study said.

The document indicates that the slowdown in the value of trade during the second half of 2022 was mainly caused by the decline in commodity prices.

Although it highlights that, in a general sense, world trade volumes continued to rise, a sign of the resilience of demand.

According to UNCTAD, the transition to a greener global economy will stimulate demand for environmentally sustainable products, while orders for carbon-intensive goods and fossil fuels will decline.


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