Global trade drops 1.3% on Red Sea attacks: IfW Kiel institute – Business & Finance

BERLIN: Global trade declined by 1.3% from November to December 2023 as attacks on merchant vessels in the Red Sea led to a plunge in the volumes of cargo transported in that key region, a German economic institute said on Thursday.

Currently around 200,000 containers are being transported via the Red Sea daily, down from some 500,000 per day in November, the IfW Kiel institute…