Global trade growth will slow to 1.7% in 2023, the World Trade Organization (WTO) reported on April 5.
The forecast for trade growth in the current year is up from the previous estimation of 1% from October 2022.
Dragged down by a sharp slump in Q4, world trade volume grew by 2.7%.
Experts believe global GDP at market exchange rates would climb by 2.4% in 2023. Meanwhile, forecasts for growth of trade and GDP this year are below the averages for the past twelve years of 2.6% and 2.7%, respectively.
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