WTO revises down global trade projectionsStaff writer ▼ | October 2, 2015
The World Trade Organization (WTO) has revised down its growth estimates for global trade from 3.3% to 2.8% in 2015 and from 4% to 3.9% in 2016. The latest forecasts had been released in April.
Trade The World Trade Organization issued a report
Throughout the 1990s and on into the beginning of the past decade, exports and imports grew twice as much as the world economy.
According to the WTO, the downward revision is a result of several factors affecting international economy in the first half of this year, such as plummeting demand for imported goods in China, Brazil and other emerging nations; the falling prices of commodities; and significant exchange rate fluctuations.
For the second half of the year and beyond, forecasts become hard to make, in the organizations’ assessment, because of the volatility of the financial market, uncertainty about the US’s monetary policy – will the FED increase or not interest rates? – and the mixed data about the performance of the global economy. ■