WTO has lowered its forecast for world merchandise trade growth in 2025 from 3.3% to 3%. Economy Business | Dated: 19 Oct 2024 On October 10, 2024, the World Trade Organization (WTO) released its latest bi-annual report titled "Global Trade Outlook and Statistics: October 2024." Here are the key points: 🎯 Key Highlights: - The WTO lowered its forecast for global merchandise trade growth in 2025 from "3.3% to 3%". - For 2024, the growth projection was increased from "2.6% to 2.7%". - The projected growth rate for global Gross Domestic Product (GDP) at market exchange rates is "2.7%" for both 2024 and 2025. 💡 Other Important Facts: In the first half of 2024, global merchandise trade grew by "2.3%, following a decline of "1.1% in 2023". This rebound is attributed to previous challenges like high inflation and rising interest rates. 📚 Test Your Knowledge: Which organization has recently lowered its forecast for world merchandise trade growth in 2025? Correct Answer: WTO 🚀 Quick Recap: About World Trade Organization (WTO) Director General : Dr. Ngozi Okonjo-Iweala Headquarters: Geneva, Switzerland