#XmasCryptoMiracles World trade growth has slowed to an unprecedented level, reshaping the economic landscape and ushering in a decade of globalization.

The trajectory of world merchandise trade over the past decade has been marked by sharp swings driven by global economic events and policy shifts. However, since 2016, the picture has changed dramatically, ushering in a long-term uptick in world trade growth.

Historical context

World Trade Organization (WTO) data reveal a pattern of global trade growth, measured by the 10-year compound annual growth rate (CAGR), that has reflected both periods of explosive growth and sharp contraction. Notable periods of growth have often coincided with key events in the global economy, but they have also often been punctuated by crises and systemic shifts.

❎ 1970s Boom and Oil Crisis: The early 1970s saw rapid growth in trade, fueling post-war recovery and international cooperation within the Bretton Woods system. However, the 1973-74 oil crisis marked a significant slowdown, after a sharp increase in energy prices led to a decline in global economic growth.