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            october 21, 2019

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WTO cuts world trade growth forecasts from 4.7pc to 3.1pc


The World Trade Organisation said the trade in global goods trade will grow less than hoped this year and next as regional conflicts and the Ebola outbreak slow down economies,a ccording to Shipping Gazette.
A 3.1 per cent year-on-year increase in trade in goods is expected in 2014, much less than the 4.7 per cent the WTO forecast in April, noted Reuters.
The WTO cited "weaker-than expected GDP growth and muted import demand in the first half".
Trade is expected to grow four per cent in 2015 rather than the 5.3 per cent previously forecast and down from the 20-year average of 5.2 per cent.
WTO had expected stronger trade after a two-year slump, but it stagnated in early 2014 as import demand fell in EU and US - and Japanese had a big sales tax increase.
Trouble in the Ukraine, deep and widening Mideast conflicts and West Africa's Ebola outbreak darkened forecasts, the WTO said.
South and Central America markets are expected to import 0.7 per cent less this year on the back of civil strife and weak non-fuel commodity prices, the WTO said.

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