New Delhi, June 1 (KNN) A turnaround is expected in the global goods trade in the second quarter of this year due to a recent revival in export orders, said World Trade Organisation (WTO) on Wednesday.

The trade remained depressed in the first quarter of 2023, as per the WTO's Goods Trade Barometer.

“But the recent pickup in export orders points to an increase in demand for traded goods in the second quarter,” it added.

These results are broadly consistent with the WTO's most recent trade forecast issued on April 5, which projects 1.7 per cent growth in world merchandise trade in 2023.

While the WTO’s expectation predicts well for India, which is struggling to push its outbound shipments.

India's exports contracted by 12.7 per cent, the third month in a row, to USD 34.66 billion in April even as the trade deficit reduced to a 20-month low of USD 15.24 billion, the government data showed.  (KNN Bureau)