2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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13%
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9%
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25%
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28%
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Detailed explanation-1: -“Overall, the value of global trade reached a record level of $28.5 trillion in 2021,” the report says. That’s an increase of 25% on 2020 and 13% higher compared to 2019, before the COVID-19 pandemic struck.
Detailed explanation-2: -In 2021, the global trade value of goods exported throughout the world amounted to approximately 22.3 trillion U.S. dollars at current prices.
Detailed explanation-3: -Global trade is set to reach almost US$32 trillion for 2022, but its growth has turned negative during the second half of 2022. Demand for foreign goods proved resilient throughout 2022, with trade volumes increasing by 3 per cent.
Detailed explanation-4: -Global trade should hit a record $32 trillion for 2022, but a slowdown that began in the second half of the year is expected to worsen in 2023 as geopolitical tensions and tight financial conditions persist, according to the latest Global Trade Update, published by UNCTAD on 13 December.
Detailed explanation-5: -As of 2021, world trade volume and value have expanded 4% and 6% respectively on average since 1995, when the WTO was first established. The world’s current MFN applied tariffs stand at an average of 9%.