Maritime Nigeria

Main Menu

  • Home
  • News
  • Interviews
  • Maritime Info
  • Photo Gallery
  • Fact
  • Profiles

logo

Header Banner

Maritime Nigeria

  • Home
  • News
    • Shake Up In NIMASA: Directors, others Moved

      Oct 21, 2025
      0
    • IMO Secretary General, Ministry Officials, Stakeholders Commend MAN, Oron

      Oct 17, 2025
      0
    • Maritime Academy: Embracing Change, Striving For Global Excellence

      Oct 15, 2025
      0
    • RENEWABLE ENERGY: Nigeria Exports Solar Panels Abroad

      Oct 11, 2025
      0
    • Tinubu Pardons Macauley, Vatsa, Ogoni 9, Farouk Lawan, Others

      Oct 10, 2025
      0
    • "Abuja Critical To Growing Non-Oil Revenue"-Dantsoho

      Oct 10, 2025
      0
    • Lagos Govt Revolutionalizes Water Transportation With Omi Eko Launch

      Oct 9, 2025
      0
    • Customer Service Week: NIMASA Commits To Excellence in Service

      Oct 8, 2025
      0
    • IMO Secretary General Visits Nigeria, Dazed By Facilities

      Oct 2, 2025
      0
  • Interviews
    • Nigeria Takes Leadership Of MOWCA

      Nov 18, 2021
      0
    • APM Participates in UK Trade Expo

      Oct 31, 2021
      0
    • Reps Seek Admission at MAN

      Dec 7, 2020
      0
    • NIMASA URGE SHIP OWNERS TO RENEW CABOTAGE LICENSES

      Oct 5, 2020
      0
    • FG Sacks Aboloma As NAIC Gets New EDs

      Aug 28, 2020
      0
    • Britain Celebrate Nigerian In Covid Efforts

      Jul 26, 2020
      0
    • Zuckerberg Backs Trump Against Twitter

      May 28, 2020
      0
    • NAFDAC DG Sheds Light On Chloroquine, Herbals, Masks and Covid19

      May 12, 2020
      0
    • Reps Threaten MDAs

      Feb 24, 2020
      0
  • Maritime Info
    • 2023 POP: Minister Task Cadets On Blue Economy

      Dec 15, 2023
      0
    • Rector, Trainees Excited, Laud FG On Modern Academy

      Jan 26, 2023
      0
    • Buhari Redeploys Minister As NPA, NIMASA, MAN, Others Get New Boards

      Apr 7, 2022
      0
    • World Bank Endorse Nigerian Ports, Partners Navy On Capacity Building

      Mar 19, 2022
      0
    • NIMASA Commend Nigerian Navy, Reassures On Floating Dock

      Feb 9, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • shipping

      Singapore Strait Dangerous To Shipping-ReCAAP

      Jan 24, 2022
      0
    • Lekki Deep Sea Port Will Increase Port Efficiency-Amaechi

      Jan 24, 2022
      0
    • Fair Competition: NSC Partners FCCPC For Effectiveness

      Jan 21, 2022
      0
  • Photo Gallery
    • SERAP Calls for Probe of Entire Privatization Processes 1999-2011

      Dec 4, 2017
      0
    • IMO Election: South Africa, Kenya, Liberia, Morroco and Egypt Make Category C

      Dec 2, 2017
      0
    • Maersk Ship on Fire as Coy Launches Six Container Lifting Tech

      Nov 2, 2016
      0
    • Captured Seafarers Languish In Captivity without Ransom

      Nov 1, 2016
      0
    • Niger Delta: Militants Ask FG to Include Former Agitators in Negotiations

      Nov 1, 2016
      0
    • Self-Audit: NIMASA Set to Review 3% Freight Charge

      Nov 1, 2016
      0
    • Recession: Japanese Shipping Companies to Merge

      Oct 31, 2016
      0
    • NSC Partners ICS on Capacity Building

      Oct 31, 2016
      0
    • AGAIN, APAPA CUSTOMS SURPASS MONTHLY TARGET WITH N33B COLLECTION

      Oct 5, 2016
      0
  • Fact
    • Maritime Police Boss Celebrate Workers

      May 1, 2025
      0
    • “VIN Is A Trade Tool, Not Punitive”-Customs

      Mar 2, 2022
      0
    • Blackmailers, False Publishers and Their Agents: Court Clears Rector

      Feb 18, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • "APM Terminals Is Beyond Moving Boxes Around"-Laursen

      Jan 24, 2022
      0
    • MWUN: Welfare, Safety Our Priority-Adeyanju

      Dec 27, 2021
      0
    • Reversing the Trend: Koko Breaks Record at NPA

      Dec 24, 2021
      0
    • Minister Demands More From MAN At Passing Out Parade

      Dec 20, 2021
      0
    • MARITIME NIGERIA TASK NIMASA ON MARITIME DEVELOPMENT

      Dec 15, 2021
      0
  • Profiles
    • CMA CGM Brings AI Onboard

      Jun 5, 2018
      0
    • Customs Notify 577 Officers of Retirement by Eguono Odjegba

      Jan 12, 2018
      0
    • Over 100 Persons Feared Dead in Mediterranean Ship Wreck

      Nov 3, 2016
      0
    • Ballast Water: Panama Signs Up

      Oct 24, 2016
      0
    • Ist Half Report: Customs generate N385.7bn revenue

      Aug 15, 2016
      0
    • Minister/MD Speeches at the Launch of NPA's CCCIS

      Jul 23, 2016
      0
    • Face off Imminent as Dakuku Warn IOCs to Sit Up or Stay ...

      Jul 22, 2016
      0
    • Hadiza, Welcome to NPA

      Jul 16, 2016
      0
    • Habib Abdullahi Sacked Again from NPA

      Jul 12, 2016
      0
  • Shake Up In NIMASA: Directors, others Moved

  • IMO Secretary General, Ministry Officials, Stakeholders Commend MAN, Oron

  • Maritime Academy: Embracing Change, Striving For Global Excellence

  • RENEWABLE ENERGY: Nigeria Exports Solar Panels Abroad

  • Tinubu Pardons Macauley, Vatsa, Ogoni 9, Farouk Lawan, Others

FeaturedNews
Home›Featured›Global Trade Hits $28tr As Uncertainties Loom-UNCTAD

Global Trade Hits $28tr As Uncertainties Loom-UNCTAD

By Editor
Dec 2, 2021
1648
0
Share:
shipping

shipping

Reports  just released by UNCTAD indicate that global trade is expected to be worth about $28 trillion this year, an increase of 23 per cent compared with 2020 – but the outlook for 2022 remains very uncertain, UN economists have said.

This strong growth in demand for goods, as opposed to services  is largely the result of pandemic restrictions easing, but also from economic stimulus packages and sharp increases in the price of raw materials.

According to UN trade and development body UNCTAD, although worldwide commerce stabilized during the second half of 2021, trade in goods went on to reach record levels between July and September.

In line with this overall increase, the services sector picked up too, but it has remained below 2019 levels.

From a regional perspective, trade growth remained uneven for the first half of the year, but it had a “broader” reach in the three months that followed, UNCTAD’s Global Trade update said.

Trade flows continued to increase more strongly for developing countries in comparison to developed economies overall in the third quarter of the year, moreover.

The report valued the global goods trade at $5.6 trillion in the third quarter of this year, which is a new all-time record, while services stood at about $1.5 trillion.

For the remainder of this year, UNCTAD has forecast slower growth for the trade in goods but “a more positive trend for services”, albeit from a lower starting point.

Among the factors contributing to uncertainty about next year, UNCTAD cited China’s “below expectations” growth in the third quarter of 2021.

“Lower-than-expected economic growth rates are generally reflected in more downcast global trade trends,” UNCTAD noted, while also pointing to inflationary pressures” that may also negatively impact national economies and international trade flows.

The UN body’s global trade outlook also noted that “many economies, including those in the European Union”, continue to face COVID-19-related disruption which may affect consumer demand in 2022.

Semiconductor stress test
In addition to the “large and unpredictable swings in demand” that have characterized 2021, high fuel prices have also caused shipping costs to spiral and contributed to supply shortages.

This has contributed to backlogs across major supply chains that could continue into next year and could even “reshape trade flows across the world”, UNCTAD cautioned.

Geopolitical factors may also play a role in this change, as regional trade within Africa and within the Asia-Pacific area increases on the one hand, “diverting trade away from other routes”.

Similarly, efforts towards a more socially and environmentally sustainable economy may also affect international trade, by disincentivizing high carbon products.

The need to protect countries’ own strategic interests and weaknesses in specific sectors could also influence trade in 2022, UNCTAD noted, amid a shortage of microprocessors called semiconductors that “has already disrupted many industries, notably the automotive sector”.

“Since the onset of the COVID-19 pandemic, the semiconductor industry has been facing headwind due to unanticipated surges in demand and persisting supply constraints…If persistent, this shortage could continue to negatively affect production and trade in many manufacturing sectors.”

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • More
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Telegram (Opens in new window)

Related

Previous Article

MOWCA: SG ASSURES OF ENHANCED CAPACITY FOR ...

Next Article

Presidency Task CIoTA To Evolve

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • News

    Judge Gives Drunken MSC Captain Suspended Sentence and Small Fine-Report

    Feb 14, 2024
    By Editor
  • Customs OperationsNews

    Wale Adeniyi, Professionalism and Excellence In Service

    Feb 17, 2025
    By Editor
  • News

    Investor Laments Infrastructure Deficit

    Apr 17, 2019
    By Editor
  • FactFeaturedMaritime InfoNews

    Nigeria Elected to Lead IMSO

    Nov 16, 2016
    By Editor
  • FactFeaturedMaritime InfoNewsPhoto Gallery

    Maersk Ship on Fire as Coy Launches Six Container Lifting Tech

    Nov 2, 2016
    By Editor
  • News

    Maritime Lecture Series: Rector, Maritime Experts Mentor Cadets

    Nov 6, 2024
    By Editor

Leave a Reply Cancel reply

  • News

    Shipping Coy Thumbs Up IMO on Co2 strategies

  • News

    Somalia Bans DP World

  • AgricultureNews

    AfDB Earmarks $25b to Boost Agriculture In Africa

Looking For Something?

Read From

  • Agriculture
  • Customs Operations
  • Fact
  • Featured
  • Interviews
  • Maritime Info
  • News
  • One Question
  • Photo Gallery
  • Profiles
  • sports

Just In

News

Shake Up In NIMASA: Directors, others Moved

  The Nigerian Maritime Administration and Safety Agency, NIMASA has announced a major redeployment of its management team as 56 senior staff staff and others are affected nationwide. Mobereola, said ...
  • IMO Secretary General, Ministry Officials, Stakeholders Commend MAN, Oron

    By Editor
    Oct 17, 2025
  • Maritime Academy: Embracing Change, Striving For Global Excellence

    By Editor
    Oct 15, 2025
  • RENEWABLE ENERGY: Nigeria Exports Solar Panels Abroad

    By Editor
    Oct 11, 2025
  • NSW PROJECT: Customs Calls For Collaboration

    By Editor
    Oct 10, 2025
  • Home
  • About Us
  • Contact Us
© 2013 Maritime Nigeria | All Rights Reserved