WTO cuts global trade growth forecast

Category : Business and economics Published on: April 16 2022

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The World Trade Organisation (WTO) has revised down its projection for global trade growth (in volume) for 2022 to 3 percent. Earlier in October 2021, this was estimated at 4.7 percent.
The downward revision follows the Russia-Ukraine conflict that has impacted commodity prices, disrupted supplies and intensified geopolitical and economic uncertainty.
For 2023, this merchandise trade volume growth is projected at 3.4%.

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