WTO has lowered its forecast for world merchandise trade growth in 2025 from 3.3% to 3%.
Economy Business
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:
- 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.
Main Points:- 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.
About World Trade Organization (WTO)
Director General : Dr. Ngozi Okonjo-Iweala
Headquarters: Geneva, Switzerland
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