News
The World Trade Organization (WTO) projects that global trade will expand 1.7% this year, which has been revised upward by 0.7 percentage points since it made its original estimated in October 2022.
Global trade grew 2.7% in 2022, failing to reach the 3.5% increase forecast in October 2022, due to a notable slowdown in the fourth quarter (October-December).
The WTO has raised its 2023 anticipation from 1% to 1.7%, as global GDP is now estimated to improve 2.4% this year, a slight hike from the original forecast of 2.3%. Other reasons include coronavirus controls in China that have been eased and milder inflation stimulating personal consumption.
