Global Trade Retreats

The total value of everything shipped around the world has fallen to levels similar to prior to the Great Recession (or the Second Great Depression). As oil prices drop, so does the value of the oil shipped. As China has reduced its growth, so has the value of the imports and exports. As the US dollar has strengthened, there are fewer American goods being shipped. Add those and other influences and the total value has dropped to levels of about a decade ago. That does not mean we are shipping less stuff. The amount of stuff being shipped continues to rise, though slowly lately. The value shipped reflects the impact on the economy. The amount shipped reflects the impact on the environment. If value was up and the amount was down, that would probably be a better picture. We have the flip of that.

(Click on the graph for the link.)

“Global Trade Contracted More In 2015 Than Any Year Since The Financial Crisis” – Quartz