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Trade measures introduced by G20 economies have become more restrictive in recent months, according to the 30th WTO Trade Monitoring Report on G20 trade measures issued on 18 December. The report shows that between mid-May and mid-October 2023, G20 economies introduced more trade-restrictive than trade-facilitating measures on goods, although the value of traded merchandise covered by facilitating measures continued to exceed that covered by restrictions. Director-General Ngozi Okonjo-Iweala called on the G20 to show leadership and contribute to economic stability and growth by unwinding recent and longstanding restrictions on trade.

The report is set against a backdrop of continued slow growth in world trade. The WTO's latest forecast (5 October 2023) estimated merchandise trade volume growth of 0.8% in 2023 (down from the previous estimate of 1.7%) and 3.3% in 2024 (nearly unchanged from 3.2% previously). In the first half of 2023, the volume of world merchandise trade was down 0.5% year-on-year, as high inflation and rising interest rates weighed on trade and output in advanced economies, and as property market strains prevented a stronger post-pandemic recovery in China.

The Trade Monitoring Report indicates that although the trade coverage of import-facilitating measures still exceeded that of restrictive ones during the review period, this gap has narrowed considerably. During the review period, trade-facilitating measures were estimated at USD 318.8 billion (down from USD 691.9 billion in the last report, issued in July 2023) and trade-restrictive ones at USD 246 billion (up from USD 88 billion). 

For the first time since 2015, the monthly average of 9.8 new trade restrictions introduced by G20 economies during the review period outpaced that of trade-facilitating measures (8.8). In addition, the longstanding stockpile of G20 import restrictions in force showed no sign of any meaningful roll back of existing measures. By mid-October 2023, USD 2,287 billion worth of traded goods (representing 11.8% of G20 imports) were affected by import restrictions implemented by G20 economies since 2009. 

Export restrictions have become more prominent since 2020, with a series of measures introduced first in the context of COVID-19 and more recently of the war in Ukraine and the food security crisis. Although some of these export restrictions have been rolled back, as of mid-October 2023, 75 export restrictions on food, feed and fertilizers were still in place globally. 

The implementation of new COVID-19 trade-related measures by G20 economies decelerated further over the past five months, with the number of new COVID-19-related support measures falling sharply. As of mid-October 2023, 82.9% of G20 COVID-19 trade restrictions had been repealed, leaving 11 export restrictions in place. The trade coverage of the pandemic-related trade restrictions still in place was estimated at USD 15.1 billion (down from USD 16.2 billion).

The review period saw a significant increase in the introduction of new general economic support measures by G20 economies. These included environmental impact reduction programmes, renewable-energy production schemes, support for energy efficiency and decarbonization and for clean- and renewable-energy projects. Other measures included various support programmes for the agricultural sector, tourism, aviation and transport.

The report also shows that the succession of crises and the uncertain economic environment continue to weigh on international investment and in particular on foreign direct investment (FDI). This sustained weakness in FDI makes it more challenging to achieve the Sustainable Development Goals (SDGs). This concern is amplified by the SDG investment gap in developing countries, the deficit in investment needed to help developing economies achieve the SDG targets. This has alarmingly widened from USD 2.5 trillion to about USD 4 trillion per year, leading up to 2030, according to data by the Organisation for Economic Co-operation and Development (OECD).

The WTO trade monitoring reports have been prepared by the WTO Secretariat since 2009. G20 members are Argentina; Australia; Brazil; Canada; China; the European Union; France; Germany; India; Indonesia; Italy; Japan; the Republic of Korea; Mexico; the Russian Federation; Kingdom of Saudi Arabia; South Africa; Türkiye; the United Kingdom; and the United States.

The Nepal Stock Exchange (NEPSE) gained 38.14 points to close at 2,060.49 points on Monday.

Similarly, the sensitive index surged by 9.56 points to close at 390. 63 points.

A total of 21,497,619-unit shares of 305 companies were traded for Rs 6. 86 billion.

Meanwhile, Bottlers Nepal (Balaju) Limited, SuryaJyoti Life Insurance Company Limited, Swarojgar Laghu Bitta Bikas Bank Ltd., Jeevan Bikas Laghubitta Bittya Sanstha Ltd and BPW Laghubitta Bittiya Sanstha Limited were the top gainers today, with their price surging by 10. 00 percent. Similarly, Himalayan Power Partner Ltd. was the top loser as its price fell by 7.86 percent.

At the end of the day, total market capitalization stood at Rs 3. 17 trillion.

The gold is being traded at Rs 117, 800 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, tejabi gold is being traded at Rs 117, 250 per tola.

Similarly, the silver is being traded at Rs 1,455 per tola today.   

The advantage of being a data-driven enterprise is getting return on investment that is an asset or commodity. The advantage of being competitive is being innovative, leveraging all the assets that we have for future return on investment. People who run businesses understand that one needs to leverage data but shifting to a data-driven enterprise also entails a major cultural shift. It involves not only the monetization of data but also its democratization to make a meaningful impact on the business.

For this transformation to occur, data must undergo various stages, including the establishment of rules, alignment with the business's objectives, formulation of governance methods, architectural design, and clarification of data ownership. While these aspects are often perceived as challenging (referred to as the "dark side"), there is a bright side to the equation. Trustworthy data, governed effectively, serves as a catalyst for business improvement.

Data is the most valuable thing an organization produces. They lead to the success and failure of the organization. From unclear data documentation and inconsistent data formats to a lack of data literacy and inadequate human resources, numerous instances underscore the significance of effective data management. 

In today’s world, data has emerged as the new natural resource for generating business value and gaining a competitive edge. Yet only 15 percent of the organization have the ability to leverage data and advanced analytics across their operations.

Why is data management helpful ?

Data management improves the visibility of an organization's data assets, making it easier for individuals to access the correct data for their research. Data needs to be managed to gain competitive advantage. Data management drives all the business decisions for business leaders.

It is the process where the data can be reviewed from the past for profit and loss analysis based on facts and figures. 

Many organizations today yearn to become data-driven, but only a few manage to achieve this goal within a reasonable budget and timeframe. The journey towards a data-driven organization is a vital element of a broader digital transformation, demanding a gradual shift in technology and processes to optimize operations. 

However, change is rarely straightforward, resulting in slower and costlier progress. To succeed in this venture, organizations must tackle both non-technical and technical hurdles, harnessing the true potential of their data assets. 

Well-communicated choices and transparency serve as the building blocks for nurturing a cohesive data-driven culture, where data is embraced as a strategic asset and leveraged to drive innovation and growth.