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WTO says goods trade fell in Q3, Omicron raises risks

Published by maria gbaf

Posted on December 21, 2021

1 min read

· Last updated: January 28, 2026

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WTO Reports Decline in Goods Trade as Omicron Risks Loom

GENEVA (Reuters) – The World Trade Organization said on Monday that global merchandise trend fell by 0.8% in the third quarter, adding that the emergence of the Omicron coronavirus variant had raised the risk of missing the forecast 2021 growth rate.

Trade volume slipped between July-September due to supply chain disruptions, shortages of production inputs and rising COVID-19 cases, the WTO said in a statement on its website.

A 2021 growth target could theoretically still be met, it said, but the emergence of Omicron has “tipped the balance of risks towards the downside, increasing the chance of a more negative outcome.”

(Reporting by Emma Farge; Editing by Maria Sheahan)

Key Takeaways

  • Global merchandise trade fell by 0.8% in Q3.
  • Omicron variant increases downside risks to trade forecasts.
  • Supply chain disruptions and input shortages affected trade.
  • WTO maintains a cautious outlook for 2021 growth targets.
  • COVID-19 cases continue to impact global trade dynamics.

Frequently Asked Questions

What is the main topic?
The main topic is the WTO's report on the decline in global goods trade in Q3 and the impact of the Omicron variant on trade forecasts.
How has Omicron affected trade forecasts?
The emergence of Omicron has increased the risk of missing the 2021 growth forecast, tipping the balance of risks towards a more negative outcome.
What factors contributed to the trade decline?
Supply chain disruptions, shortages of production inputs, and rising COVID-19 cases contributed to the decline in trade volume.

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