WTO lowered global trade growth forecast for 2019

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The World Trade Organization predicts a more significant slowdown in the growth of world trade in 2019. According to its experts, the volume of trade will show a minimal growth rate this year, having risen by 2.6%, and not by the previously expected 3.7%. The deterioration of the forecast is due to persistent trade disputes, as well as uncertainty in the global economy. At the end of last year, world trade grew by 3% after increasing by 4.6% in 2017. At the same time, the WTO expects that in 2020 its growth will accelerate to 3%, since economic growth in developing countries may increase if trade disputes are resolved. The WTO forecast also implies a growth of the global economy in 2019 and 2020 by 2.6% annually.

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