世贸组织：一季度全球商品贸易增长超预期

Core Insights - The World Trade Organization (WTO) reported a 3.6% quarter-on-quarter increase and a 5.3% year-on-year increase in global goods trade volume for Q1 2025, driven by a surge in imports in North America due to anticipated U.S. tariff hikes [1] Trade Volume Growth - The growth in global goods trade volume for Q1 2025 exceeded the latest WTO forecasts, although a slowdown in trade expansion is expected later in the year due to ample inventories and pressure on import demand from tariff increases [1] Regional Trade Dynamics - There were significant disparities in trade volume growth across regions, particularly in imports, with North America experiencing the strongest quarter-on-quarter import growth of 13.4% [1] - The surge in North American imports is attributed to widespread market expectations of new U.S. tariff measures to be announced on April 2, prompting importers to stock up in advance to avoid higher future costs [1]