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WTO forecasts rebound in global trade but warns of downside risks
Global goods trade is expected to pick up gradually this year following a contraction in 2023 that was driven by the lingering effects of high energy prices and inflation, WTO economists said in a new forecast on 10 April. The volume of world merchandise trade should increase by 2.6% in 2024 and 3.3% in 2025 after falling 1.2% in 2023. However, regional conflicts, geopolitical tensions and economic policy uncertainty pose substantial downside risks to the forecast. In the latest “Global Trade Outlook and Statistics” report, WTO economists note that inflationary pressures are expected to abate this year, allowing ... (full story)