WTO goods trade indicator hits record high, reflecting strong recovery

BERLIN (Reuters) - The World Trade Organization said on Wednesday its global goods barometer hit a record high, confirming the strength of trade's recovery after the deep shock caused in 2020 by the COVID-19 pandemic.

The Geneva-based body said its goods trade barometer rose to 110.4 points, the highest since the indicator was first released in July 2016 and up by more than 20 points year-on-year.

"The rise in the barometer reflects both the strength of current trade expansion and the depth of the pandemic-induced shock in 2020," the WTO said on its website, adding the outlook for world trade continues to be overshadowed by downside risks.

(Reporting by Madeline Chambers and Thomas Escritt)