WTO dramatically cuts 2016 global trade growth forecast
The World Trade Organization estimates that global trade will expand by just 1.7 percent in 2016, compared to its April projection of 2.8 percent. By (YONHAP/AFP/File)
Geneva (AFP) - The World Trade Organization on Tuesday revised down its 2016 global trade forecast by more than a percentage point, warning trade would grow at its slowest pace since the global financial crisis.
WTO now estimates that global trade will expand by just 1.7 percent in 2016, compared to its April projection of 2.8 percent, and compared to a projection a year ago that trade would swell by 3.9 percent this year.