AGL 40.30 Increased By ▲ 0.29 (0.72%)
AIRLINK 127.29 Decreased By ▼ -0.70 (-0.55%)
BOP 6.67 Increased By ▲ 0.07 (1.06%)
CNERGY 4.49 Decreased By ▼ -0.11 (-2.39%)
DCL 8.60 Increased By ▲ 0.12 (1.42%)
DFML 41.89 Increased By ▲ 0.41 (0.99%)
DGKC 87.90 Increased By ▲ 1.32 (1.52%)
FCCL 32.90 Increased By ▲ 0.76 (2.36%)
FFBL 64.87 Decreased By ▼ -0.55 (-0.84%)
FFL 10.26 Increased By ▲ 0.01 (0.1%)
HUBC 109.84 Decreased By ▼ -0.65 (-0.59%)
HUMNL 14.82 Increased By ▲ 0.07 (0.47%)
KEL 5.13 No Change ▼ 0.00 (0%)
KOSM 7.54 Increased By ▲ 0.42 (5.9%)
MLCF 41.84 Increased By ▲ 0.19 (0.46%)
NBP 59.68 Decreased By ▼ -0.41 (-0.68%)
OGDC 194.98 Increased By ▲ 0.29 (0.15%)
PAEL 28.25 Increased By ▲ 0.30 (1.07%)
PIBTL 7.80 Decreased By ▼ -0.20 (-2.5%)
PPL 152.50 Increased By ▲ 1.33 (0.88%)
PRL 26.65 Decreased By ▼ -0.23 (-0.86%)
PTC 16.19 Increased By ▲ 0.19 (1.19%)
SEARL 84.50 Increased By ▲ 6.30 (8.06%)
TELE 7.67 Increased By ▲ 0.28 (3.79%)
TOMCL 35.45 Decreased By ▼ -0.22 (-0.62%)
TPLP 8.17 Increased By ▲ 0.26 (3.29%)
TREET 16.17 Increased By ▲ 0.28 (1.76%)
TRG 52.80 Increased By ▲ 0.04 (0.08%)
UNITY 26.50 Decreased By ▼ -0.05 (-0.19%)
WTL 1.24 Decreased By ▼ -0.03 (-2.36%)
BR100 9,937 Increased By 17.1 (0.17%)
BR30 30,864 Increased By 112 (0.36%)
KSE100 93,676 Increased By 451.4 (0.48%)
KSE30 29,030 Increased By 145.5 (0.5%)

GENEVA: Russia’s war in Ukraine did not dent global trade in 2022 as badly as feared, the World Trade Organization said Thursday — and Russia’s export values have even surged.

A year on since the full-scale invasion, the WTO concluded that trade had proved “remarkably resilient”, with importing countries affected by the conflict finding alternative sources of supply.

A report looking into the war’s impact on global trade and development estimated that trade growth in 2022 was above the WTO forecast of three percent issued in April in response to the invasion — and substantially higher than its estimates for more pessimistic scenarios.

For the most exposed countries, trade had kept afloat, the WTO said, as had trade in products significantly affected by the war — such as wheat, maize, sunflower products, fertiliser and fuels.

“Global trade has held up well in the face of the war in Ukraine,” the WTO’s chief economist Ralph Ossa said.

“Despite the devastation we have seen one year on, trade flows remained open... Sharply higher food prices and supply shortages have not materialised thanks to the openness of the multilateral trading system”.

While Ukrainian exports collapsed by 30 percent in value terms last year, Russian exports expanded by 15.6 percent in value terms, almost entirely due to an increase in prices for fuels, fertilisers and cereals.

Comments

Comments are closed.