Partner Article

World trade to recover

Global trade is on target to rebound after the steepest decline in more than 70 years, according to economists at the World Trade Organization.

Last year the volume of world merchandise exports fell 12%, largely due to the global financial crisis.

However the WTO now predicts world trade to bounce back and record growth of 9.5%.

“We have seen the light at the end of the tunnel and trade promises to be an important part of the recovery,” said WTO’s director general Pascal Lamy.

Exports from developed economies are expected to increase by 7.5% in volume terms over the year, while shipments from the rest of the world should rise by about 11% as the world emerges from recession.

A danger to the recovery is the “significant slack” remaining in the global economy, meaning that factories and production facilities around the world continue to operate at well below capacity.

This was posted in Bdaily's Members' News section by Ruth Mitchell .