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ICC release 2023 Trade Registry Report

13/11/2023

The 2023 ICC Trade Registry Report is now available for purchase and download via the following link:

https://iccwbo.org/news-publications/policies-reports/icc-trade-register-report/?msdynttrid=iQJj3ltCaTdQ2yCJxqYPbQ_yo90bbwtKGiouc4tIaBI#single-hero-document

Here are some of the emerging trends identified in the Report:

International goods trade flows reached $23.8 trillion in 2022, up 10.7% from 2021 and slightly above the forecast in last year’s Trade Register of $23.3 trillion. 

The travel and transportation sector saw the fastest trade growth among sectors, amounting to 41% in 2022.

Computer and Telecoms services grew in line with its previous trend, at a pace of 6% in 2022.

Trade in services reached $6.8 trillion in 2022, up 14% from 2021, driven by strong growth across all regions in a continued post-pandemic recovery.

Energy, metals and mining is expected to see the largest decline in nominal terms, with a 4.9% decrease from 2022 to 2023

Real two-way trade flows between Russia and Western countries are expected to continue to decline (by 32% with the UK, by 44% with the USA, and by 35% with the EU), while flows between Russia and other countries are expected to increase (38% with India, 16% with China).

Boston Consulting Group forecasts nominal goods trade to decline by 1.9% from 2022 to 2023, as the reduction in commodity prices causes prices for traded goods to fall. 


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