A logo of the World Trade Organization (WTO) is seen in Geneva, Switzerland, on April 5, 2023. [Photo/Xinhua]

The World Trade Organization's (WTO) Goods Trade Barometer released on Monday indicates that global goods trade continued to expand at a moderate pace in the fourth quarter of 2024.

The barometer, a composite leading indicator for global merchandise trade, records the latest reading of 102.7. Values above 100 indicate above-trend trade volumes, while values below 100 suggest that goods trade has either fallen below trend or is likely to do so in the near future.

According to the WTO, the latest reading suggests that trade will continue to grow steadily through the fourth quarter. However, the outlook is clouded by rising economic uncertainty, including possible shifts in trade policy.

The barometer's component indices for automotive products (104.0), container shipping (105.8), air freight (102.9), export orders (100.5) and raw materials (100.5) are currently above trend. Only that for electronic components (96.5) is below trend.

According to the WTO's most recent trade forecast on Oct. 10, trade volume growth for the whole of 2024 should come in at around 2.7 percent while growth in 2025 is expected to reach 3.0 percent.