WTO cuts 2016 global trade forecast to 2.8%

The World Trade Organization (WTO) has revised its 2016 global trade updated forecast for 2016 downward by more than one percentage point to 2.8% from 3.9%.

The main reasons for cutting the forecast rate is slowdown in China and broad market volatility that continues to threaten growth.

Key facts

  • WTO has mentioned that various factors were continuing to apply downward pressure on global trade and commerce.
  • Declining commodities prices has shown few signs of reversing and also the slowdown in Chin, the world’s top commodities consumer remains uncertain.
  • Slowing in China (and) worsening financial market volatility may be the key factors that could further suppress global trade in 2016.

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Categories: Business & Economy Current Affairs 2017

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