Impact of War in Ukraine, Lockdowns in China with resurging COVID cases and Pandemic Crisis for Ceramic Tile Manufacturers

Approximately 70% of Asia’s largest companies lost value in the first two months of Russia’s invasion of Ukraine, with investors concerned about the economic fallout from the conflict as well as the impact of tough new COVID-19 lockdowns in manufacturing powerhouse China.

As a result, the WTO has reduced its forecast for merchandise trade volume growth to 3.0% in 2022, down from 4.7% previously, and 3.4% in 2023. However, the World Trade Organization notes that these estimates are less certain than usual due to the fluid nature of the Ukrainian conflict and a lack of hard data on the economic impact of the conflict.

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