Global trade growth rate fell to the lowest level in seven years in June
2020-07-29 11:28:02
Abstract This year, companies from all over the world have already lost their fast pace when they are doing overseas sales and purchasing. They always step on the gas pedal and step on the brakes. CNN reported that according to the analysis of global government trade data released by the gathering network on Thursday, the global trade volume in June is more than...
This year, when companies from all over the world are doing overseas sales and purchasing, they have long since lost their rhythm. They always step on the gas pedal and step on the brakes. CNN reported that according to the analysis of global government trade data released by the company on Thursday, the global trade volume increased by only 0.1% in June compared with the same period of last year, the lowest month since 2009.
Chris Rogers, a network analyst, said: "We have found some very clear evidence that global trade is slowing down."
On Friday, the US Census Bureau will release US foreign trade data for July.
In the previous June, US exports fell by 5% year-on-year, and trade revenue and expenditure fell for the third consecutive month. Another area that has slowed global trade growth is Latin America, and their total trade volume in June has also shrunk.
When US companies sell computers, cars and other goods overseas, a strong dollar remains a major obstacle. A strong dollar will make American goods more expensive in the face of foreign buyers and weaken their competitiveness.
China's slowdown in growth, weak performance in some important developing countries, and sluggish demand are already long-term troubles for trade growth.
However, global trade is not all bad news. A recent survey by American Express and the Economist Intelligence Unit found that 66% of international companies believe that US foreign trade will show growth in the next few years.
However, Brexit has brought new variables. This will force Britain to re-establish trade agreements with many countries, and the UK's links with some of Europe's major trading partners will inevitably be alienated. For the global economy, this is of course bad news, and in the eyes of the International Monetary Fund, the growth of the global economy is already "fragile".
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