Skip to main content

More signs that softer demand is weighing on trade

After a growth spurt late last year, world trade flatlined in Q1. The Ukraine war and lockdowns in China raised concerns that renewed supply bottlenecks would choke up world trade. However, notwithstanding the reported surge in US imports in March, it generally seems to be softer demand more so than restricted supply that is behind the recent weakness in world trade. Accordingly, the latest trade data are more consistent with a picture of slowing global economic growth than of mounting pipeline inflation.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services


Get access