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Economic Buzz: WTO expects gradual recovery in global trade
11-Oct-2024 18:18

WTO expects gradual recovery in global trade for 2024 and 2025 amid gepolitical risks. It has raised its prediction for world merchandise trade growth in 2024 to 2.7 per cent, up slightly from an April estimate of 2.6 per cent, following a drop of 1.1 per cent in global goods trade in 2023, primarily due to high inflation and rising interest rates. The WTO has however, cut its projected growth rate for 2025 from 3.3 per cent to 3 per cent.

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