DHL Global Trade Barometer hints robust growth in global trade
The outlook of the world trade has continued to improve. The DHL Global Trade Barometer increased to 66 points in March, from 64 points in January.
With an index value above 50, the DHL Global Trade Barometer has signaled a firm and positive growth of global trade,in the next three months. The increase also indicates that the growth is fast gaining momentum.
The overall good prospects that has been reflected by the Trade Barometer indicates an increase in trade activity in the seven constituent countries.
Compared to the findings in January, the improved global index was mainly driven by an increasingly positive outlook in the Korean and US trade.
On the other hand, prospects ofthe German trade eased after the strong peak seen in 2017. India continued to show the highest index value out of the seven countries in the overall trade predictions, while the UK, after a modest decline since January, scored the same level as China, which was at the lower end of the country ranking.
CONTRASTING INDEX DEVELOPMENT
Developments in air and ocean trade have been slightly contrasting. The global air trade outlook dropped slightly by one point, compared to January, but remained positive at 70.
The outlook for the global air trade was pushed downward due to slow down in the growth in German and South Korean air trade. On the upside, air trade growth in China and the US is expected to accelerate.
Meanwhile, the outlook for global ocean trade improved to 63 points in March, from 60 points in January. The growth was also driven by the US and China, along with a strong increase in South Korea, offsetting a slightly reduced growth outlook in the UK and German ocean trade.
DATA EVALUATION USING ARTIFICIAL INTELLIGENCE
Launched in January 2018, the DHL Global Trade Barometer is a new and unique early indicator for the current state and future development of the global trade. It’s based on large amount of logistics data that are evaluated with the help of artificial intelligence. The indicator has been jointly developed by DHL, the world's leading logistics company, and IT service provider Accenture.