BUSINESS

WTO Forecast Growth In International Trade

The World Trade Organization (WTO) is predicting that international trade will pick up pace this year at a faster rate than previously predicted.

The volume of global trade contracted by 5.3% in 2020, less than expected as the pandemic hit.

The WTO is now predicting that global trade will grow 8% this year.

According to the organization, while trade for this year will be stronger than expected, growth is forecast to slow to 4% in 2022.

At the same time, the WTO warns that the coronavirus pandemic could still put a damper on global trade.

Readers Bureau, Contributor

Edited by Jesus Chan

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