WTO revises 2017 global trade growth upwards

Fri, Sep 22 2017, 01:04 PM

The World Trade Organization (WTO) revised upwards the world merchandise trade volume in 2017 to 3.6%, compared to 2016’s tepid 1.3% and its previous 2017 estimate of 2.4%. The higher growth expected this year is being attributed to last year’s low base, a resurgence of Asian trade flows and a recovery in North America’s import demand. However, the WTO warned of risks, including protectionist measures, rising geo-political tensions and the increasing economic toll of natural disasters.