WTO Upgrades Global Trade Growth Forecast In 2022 To 3.5% From 3% - Report

Umer Jamshaid Published October 05, 2022 | 03:10 PM

WTO Upgrades Global Trade Growth Forecast in 2022 to 3.5% From 3% - Report

GENEVA (UrduPoint News / Sputnik - 05th October, 2022) The World Trade Organization (WTO) has improved its forecast for global trade growth in 2022 to 3.5% from 3%, according to its fresh report released on Wednesday.

"World trade is expected to lose momentum in the second half of 2022 and remain subdued in 2023 as multiple shocks weigh on the global economy.

WTO economists now predict global merchandise trade volumes will grow by 3.5% in 2022�slightly better than the 3.0% forecast in April. For 2023, however, they foresee a 1.0% increase�down sharply from the previous estimate of 3.4%," the report read.

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