WTO Notes Continued Growth for Exports of Intermediate Goods in Q2

Intermediate goods exports -- that is, shipments of inputs used to make a final product -- rose by 47% year over year in the second quarter of 2021, the World Trade Organization said, citing a new WTO report intended to monitor global supply chain health. After Q1 grew by 20%, the new 47% mark signifies sustained growth and continues the trend of 2021 surpassing 2019 pre-COVID-19-pandemic levels, the report said. Leading the IG export growth charge for the second quarter was Africa, which saw an 88% expansion of its IG exports due to "strong jumps in exports of precious metals and stones such as rhodium, diamonds, copper/copper cathodes and iron ore concentrates," the WTO said. China maintained its high growth of international inputs in Q2, coming in at just over 40%, while Australia's IG exports soared 74% in the quarter, due to high volumes for shipments of iron ore concentrates, wheat and meslin.