WTO monitoring shows that between mid-October 2022 and mid-October 2023, the value of world merchandise trade covered by new trade-facilitating measures far exceeded that affected by new trade restrictive measures, an encouraging trend at a time of uncertainty and tension in the global economy. Nevertheless, the WTO Director-General’s annual overview of developments in the international trading environment, presented on 7 December at a meeting of the Trade Policy Review Body, indicates that trade restrictions continue to weigh on global trade, with persistent export restrictions contributing to food price volatility.
