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Business News/ Market / Mark-to-market/  Demonetisation has hit consumption at a time when world trade is contracting
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Demonetisation has hit consumption at a time when world trade is contracting

With global trade contracting, countries have to rely on domestic demand to boost their economies

Graphic: Naveen Kumar Saini/MintPremium
Graphic: Naveen Kumar Saini/Mint

The CPB World Trade Monitor for October 2016 shows that world trade volume fell 0.7% from a year ago.

The chart also shows that compared to October 2014, world trade volume is up a mere 0.8%.

The chart underlines the sluggishness in global trade. With global trade contracting, countries have to rely on domestic demand to boost their economies. Unfortunately for India, demonetisation of high-value banknotes has affected domestic demand substantially.

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Published: 25 Dec 2016, 11:12 PM IST
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