The World Trade Organization announced Monday that global merchandise trade is expected to grow at a slower pace than usual for the fourth quarter of 2019, hampered by trade tensions and tariffs.
That follows a September projection from the organization that global trade would grow at 1.2% in 2019, down from the 2.6% annual growth projected in April.
If trade growth slows as projected, what effect will it have on Missouri? Import figures from last year provide one measure.
Missouri accounted for 0.8% of U.S. imports in 2018, according to U.S. Census Bureau data. China was Missouri’s top import partner, supplying close to $4.9 billion of goods last year — an increase of 3.8% from 2017.
Canada imported more than $4.2 billion of commodities to Missouri, ranking second. Mexico and Germany also topped , the United Arab Emirates, Taiwan, Japan and India.
According to the Census Bureau, Missouri’s top import in 2018 was crude oil from petroleum and bituminous minerals, with a value of close to $1.4 billion.