Global Trade Turnover to Fall by More Than 1% due to Panama Canal Shallowing

The Panama Canal Authority has ordered a reduction in cargo traffic due to the premature onset of the dry season.

This waterway typically handles 36-38 ships per day; now, for several months, only 32 or fewer will be allowed through.

The Panama Canal handles 5% of global cargo traffic, so the announced traffic reduction will lead to a 1% drop in global trade turnover.

Logistics experts believe this is unlikely to cause shortages of any commodity groups, but price increases are inevitable, along with rising global inflation.