Chart of the week: world trade growth has stalled

World trade is struggling to recover from the massive recession caused by the financial crisis.

Chart of global trade growth

Global trade (exports plus imports) averaged less than 10% of GDP before the 1800s, says Deutsche Bank. It then tripled by 1914, thanks to advances in communication and production triggered by the industrial revolution. The two major wars of the 20th century caused a hiatus, but the advent of shipping containers, along with falling tariffs due to successive rounds of multilateral trade talks, underpinned further progress after 1945. Today, however, trade is struggling to recover from the massive recession caused by the financial crisis. A multi-decade downtrend in US protectionism is reversing under Donald Trump, with the average tariff for all imports ticking up in recent years for the first time since the 1950s.


Simon English, Evening Standard




How long can the good times roll?

Despite all the doom and gloom that has dominated our headlines for most of 2019, Britain and most of the rest of the developing world is currently en…
19 Dec 2019
Emerging markets

Saudi Arabia slips on cheap oil

The Kingdom of Saudi Arabia had big plans to diversify its economy so that it was no longer so reliant on oil revenue. The current crisis arrived befo…
23 May 2020
Global Economy

The charts that matter: oil surges, but the dollar stays flat

With the oil price up and the dollar going nowhere, John Stepek looks at how that affects the charts that matter the most to the global economy.
23 May 2020
Global Economy

The new Cold War: China’s crackdown on Hong Kong

The planned imposition of strict new laws in Hong Kong is another step in the Cold War between China and the US, says John Stepek. And things are only…
22 May 2020

Most Popular

Investment strategy

How John Maynard Keynes learned the folly of market timing

In an extract from his book The Sceptical Investor, John Stepek explains how the great economist John Maynard Keynes came a cropper when he first star…
25 May 2020
Emerging markets

A new lease of life for the Brics

Emerging markets are having a surprisingly good crisis. Their long-predicted rise will now continue.
24 May 2020

Battling volatility: The benefits of an active manager

SPONSORED CONTENT – Alastair Wilson, managing director of Close Brothers, on the advantages of active investing in times of crisis.
21 May 2020