Exporters optimistic despite global slowdown prospects

They expect better market access in countries with whom new free trade agreements have been negotiated recently

Last week, central banks in India, the United States, Australia, and the United Kingdom started taking actions to curb inflation. The measures included an increase in benchmark interest rates and withdrawal of excess liquidity injected during the last two years to counter the adverse economic impact of the Covid-19 pandemic. It is widely expected that the collateral damage of these steps will be lower global trade and economic growth rates.

Even before the Russian invasion of Ukraine, the global commodity prices were rising due to shipping and supply chain disruptions and vast increase in demand, powered by easy money. Since the