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G20 import restrictions set a record high

Group of 20 (G20) import restrictions hit a record high cumulatively, the World Trade Organization (WTO) reported.

The backlog of G20 import restrictions in force has grown steadily since 2009, both in value terms and as a percentage of world imports.

Notably, there was a significant increase in both from 2017 to 2018.

This specific jump is largely explained by the measures introduced on steel and aluminum, and by the various tariff increases introduced in the context of bilateral trade tensions.

Cobertura comercial acumulada de las medidas restrictivas a la importación de bienes del G20 en vigor desde 2009

World imports decreased substantially in 2020 compared to 2019.

The decline was also reflected in total G20 imports and in the value of G20 import restrictions in force.

World trade returned to growth in 2021, due to higher export and import prices as inflation became a global phenomenon.

Import restrictions

By 20224, trade covered by G20 import restrictions in force was estimated at $1.916.5 billion, representing 11.6% of total G20 imports, or 8.7% of total world imports, up 0.4 percentage points from 2021.

The WTO disseminated these trends in its Trade Monitoring Report on G20 trade measures.

For this Report, no information was received from G20 economies on the ending of import restrictions.

Estimating the rollback of import restrictive measures, and eventually total stocks, is made complex by the fact that many temporary measures remain in place beyond the expected termination date.

In addition, the WTO Secretariat does not always receive accurate information on changes in notified measures.

Consequently, the figures presented below are estimates based on information recorded in the temporary measures database since 2009.

 

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