World Trade Organization cuts global trade forecast for 2023 to 1% due to uncertainties
Shortpedia
Content Team
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The growth in world trade is expected to slow down to one per cent in 2023, due to global uncertainties, according to a WTO forecast. WTO has also projected a growth of 3.5% in global trade this year, as against the April estimate of 3%. 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, the multi-lateral body has said in a statement.
