The World Trade Organization (WTO) reported that world exports of intermediate goods (IG) continued to grow in the last quarter of 2021, registering a figure of around 21 %. However, its increase was lower than those registered in previous quarters of the same year, where 27 % and 47 % were registered for the third and second quarters, respectively.
Intermediate goods or IG is an indicator of the level of quality in supply chains and ranges from inputs used in food production to textiles and metals needed to produce goods.
On the other hand, manufacturing inputs called “Other industrial supplies” registered a year-on-year growth of around 31 % in the last quarter of 2021. These inputs include “metal structures, electrical conductors, medical and pharmaceutical products”.
While global exports of food and beverages reported a drop in the quarter, reporting a figure in the order of 23 % compared to the 28 % registered during the third quarter. The same behavior was shown by minerals and precious stones, which registered barely a 10 % growth compared to the 13 % and 40 % registered in the previous quarters.
China maintains IG export leadership
During the fourth quarter of last year, China ranked first among the countries with the largest IG exports in terms of value in the global market, registering some 418 billion dollars in the quarter, which maintains it as the leader of that global market.
Other countries with year-on-year growth were Belgium and the United Kingdom, which registered 39 % and 34 % respectively. Then Malaysia stands out with 28 %, “with three quarters of its national production inputs sent to Asian partners.”
The largest importing country of IGs was India with 42 % growth in the fourth quarter, while in value terms China and the United States obtained 439 billion dollars and 268 billion dollars respectively.
M. Rodríguez
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Source: finanzasdigital.com
