Despite a Cloudy Outlook, Global Trade Is Still Resilient

©iStock/RusianShevchenko

According to DHL and the NYU Stern School of Business, forecasts for global trade indicate:

• Trade is expected to grow slightly faster in 2022 and 2023 than it did over the previous decade.
• Many companies backed away from reshoring and nearshoring plans, leading trade to grow faster in emerging economies close to China.
• Vietnam, India, and Philippines are benefitting, with Vietnam the biggest winner.

Trade is expected to grow slightly faster in 2022 and 2023 than it did in the previous decade, despite the headwinds of Covid, a global economic slowdown and the war in Ukraine.

Read on about how globalization of trade isn’t ending, despite Covid, war and inflation.