The World Trade Organization (WTO) Downgrades Global Trade Growth Forecast to 3.9% in 2018, 3.7% in 2019 - Press Release
The World Trade Organization (WTO) said in a press release on Thursday that it had revised downwards its outlook for global trade growth to 3.9 percent in 2018 and 3.7 percent in 2019, compared to previously forecast 4.4 and 4.0 percent respectively.
MOSCOW (Pakistan Point News / Sputnik - 27th September, 2018) The World Trade Organization (WTO) said in a press release on Thursday that it had revised downwards its outlook for global trade growth to 3.9 percent in 2018 and 3.7 percent in 2019, compared to previously forecast 4.4 and 4.0 percent respectively.
"Trade will continue to expand but at a more moderate pace than previously forecast.
The WTO anticipates growth in merchandise trade volume of 3.9% in 2018, with trade expansion slowing further to 3.7% in 2019," the press release read.
The organization noted that it had decided to downgrade its outlook for global trade as "some of the downside risks identified in the April press release have since materialized, most notably a rise in actual and proposed trade measures targeting a variety of exports from large economies."