The latest GTB points to a worsening global economic outlook, according to Eswar S. Prasad, professor of Trade Policy and Economics at Cornell University.
Amid shortages and soaring food prices, Australian avocados stand out as an anomaly to the trend, evading inflation as supply continues to exceed demand.
Disruptions in container shipping and the shrinking cost differential between air and ocean are contributing to a strong, positive air freight outlook.
The rise of e-commerce and digitalization during Covid-19 has been a boon for global trade, shares Kelvin Leung, CEO, DHL Global Forwarding Asia Pacific.