Source: WTO
World exports of intermediate goods (IGs) fell by 10 per cent year-on-year in the fourth quarter of 2022 to US$ 2.3 trillion, reflecting the disruptions global supply chains faced in the closing months of the year due to the geopolitical context, commodity shortages, high energy prices and weak consumption. The decrease affected practically all regions.
IGs refer to inputs used to produce a final product and are an indicator of the activity in global supply chains. The worldwide downward trend in IG exports started in the second quarter of 2022 and continued into the fourth quarter. The share of IGs in total trade (excluding fuels), furthermore, dropped slightly to 47 per cent in the fourth quarter of 2022, below the 51 per cent share recorded in the same quarter a year ago and the 50 per cent average ratio for the last decade.
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