Global trade experienced a three per cent contraction in 2023, equivalent to $1 trillion, compared to the record high in 2022. However, the services sector showed resilience with an eight per cent increase of $500 billion, while the trade in goods declined by five per cent, or $1.3 trillion. Developing countries, especially in Africa, East Asia, and South Asia, saw a return to growth in the fourth quarter of 2023.
Major economies generally saw a decline in merchandise trade, with exceptions such as Russia exhibiting volatility in trade statistics and growth in China and India. Trade performance declined in the developing world by around four per cent and in developed economies by approximately six per cent. However, trade trends reversed in the last quarter of 2023, with developing countries and South-South trade resuming growth.
On the other hand, electronic waste, or e-waste, is increasing at an alarming rate of 2.6 million tonnes annually, with only 25 per cent being officially recorded to have been recycled. This poses environmental and health hazards due to the toxic substances contained in e-waste.
Additionally, there were nearly 7,000 excess deaths from tuberculosis in the WHO European region during the COVID-19 pandemic. The disruption of TB diagnosis and treatment efforts led to these avoidable deaths, highlighting the need for strengthened prevention, testing, and treatment strategies to combat TB and drug-resistant strains. The rise in drug-resistant TB underscores the importance of timely action by national authorities to prevent further suffering and death.
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