Import/Export
Import/Export Opportunities
Peak growth
In 2022, global trade surged to a record high of $32 trillion. Trade in goods rose 10% to $25 trillion, and trade in services rose 15% to $7 trillion.
Improved shipping & logistics
Shipping and port companies have rebounded from the shock of COVID-19. Due to the introduction of new ships and technologies, port congestion has receded.
Digital Economy Agreements
Digital Economy Agreements (DEAs) are a recent develop that will spur growth in digital trade. The DEA’s go beyond traditional trade agreements, to develop specific trade rules and standards to seamlessly facilitate data flows and digital transactions across borders.
Import/Export Challenges
Geopolitical tension
Geopolitical pressures, such as the War in Ukraine, will continue to hamper global trade. The use of sanctions and export controls by major powers will continue to negatively impact the flow of global trade.
Rise of onshoring
A bi-product of the COVID-era is the increase of businesses onshoring. Following shortages in everything from face masks to semi-conductors, governments and business are moving away from 100% offshoring models in order to strengthen resilience to future supply chains disruptions.
Slow growth
In 2023 trade growth will slow due to multiple shocks on the global economy. While merchandise trade grew by 3.5% in 2022, it expected to grow by just 1% in 2023. Record levels of global debt, geopolitical tension, rising inflation, and increasing interest rates underlie the reduced growth projections.
How we help
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