NextGen Day

According to a research report released on Monday, global trade in January surpassed pre-pandemic levels, but the Omicron form poses a threat to the Chinese economy.

According to the Kiel Institute for the World Economy, global trade climbed by 2.4 percent in January compared to the previous month.

It’s already 7% higher than it was in August 2018, before the coronavirus disease 2019 (Covid-19) epidemic, according to the report.

The Kiel Institute for the World Economy is a non-profit economic research institute and think tank based in Germany.

In January, Germany’s exports jumped by 1.2 percent, while imports increased by 0.8 percent.

Last month, EU and US exports increased by 0.6 percent and 3.6 percent, respectively, while imports decreased by 0.1 percent and 1.6 percent.

“Right now, roughly 11% of all commodities shipped worldwide are delayed in traffic jams, and around 11% fewer goods are being moved in the Red Sea than usual,” according to the research.

The Omicron form of coronavirus has been reducing China’s trade data, according to the research institute, and the country’s growing trade trend of 2021 has been broken.

China’s imports fell 2.8 percent month on month in January, while exports fell 0.2 percent, according to the report.

“Beijing’s strict zero-Covid policy poses a threat to the Chinese economy. There is a significant possibility that this will have an impact on European commerce by causing additional delays in port operations “In a statement, Vincent Stamer, the head of the Kiel trade indicator, stated.

“However, the Chinese New Year and, in particular, the hosting of the Olympic Games are a test for the Chinese economy,” he continued, “to ensure that the pandemic, and hence the economic crisis, does not worsen.”

According to Stamer, the current supply constraints are the result of a rapid increase in demand that supply cannot meet.

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