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Downward trend of global trade to continue in 2019: WTO Chief

By TIOL News Service

GENEVA, JUNE 05, 2019: THE WTO yesterday released its Annual Report 2018. On this occasion, its DG, Mr Roberto Azevedo, said that mounting trade tensions, an increase in trade-restrictive measures and continuing economic uncertainty created real challenges for world trade in 2018.

He further stated that these factors and a deceleration in overall economic activity slowed momentum in global trade, restricting merchandise trade growth to 3 per cent compared with 4.6 per cent in 2017. This downward trend is expected to continue in 2019, with trade projected to grow by just 2.6 per cent. If trade growth is to bounce back in 2020, it is vital we resolve tensions and create an environment where trade can play its full part in driving economic growth and reducing poverty, he added.

 


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