World Trade Organization reduces global trade growth forecast

English Oct 1, 2019

The World Trade Organization (WTO) has once again reduced its projected growth in world trade to 2019 and 2020. By 2019, the WTO has projected growth of 1.2%, while the previous expectation in April was 2, 6%. By 2020, the forecast is reduced to 2.7%, compared to the previous estimate of 3% growth.

According to the organization, during 2018, world trade grew by 3%. The report presented by the entity attributes the reduction in growth to the uncertainties of the global economy, mainly involving the trade war between North America and China, as well as the departure of the United Kingdom from the European Union. The Organization for Economic Co-operation and Development (OECD) has also projected a considerable reduction in its forecasts for growth in the world economy, projecting growth of 2.9% in 2019 and 3% in 2020, compared to an expansion of 3.6%. % in 2018.


Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.