World merchandise trade volume is expected to grow 3.5% in 2022, according to the latest forecasts from the World Trade Organization (WTO). In April, the Organisation had forecast 3% growth (see EUROPE B12931A15).
However, the forecasts published on Wednesday 5 October predict much lower growth for 2023. Instead of the 3.4% predicted in April, the WTO is now expecting 1% growth.
Trade is largely affected by the war in Ukraine, high energy prices, inflation and monetary tightening, says...