Global merchandise trade growth is projected to slow in the second quarter of 2022 on an annual basis, the World Trade Organisation (WTO) said on Tuesday (Aug 23), reported Anadolu.
Weighed down by the ongoing war between Russia and Ukraine, and buoyed by the lifting of Covid-19 lockdowns in China, the trade “plateaued” in the April-June period, following a 3.2% year-on-year growth in the first quarter of 2022.
The WTO expects a 3.0% annual growth in world merchandise trade in 2022.
"However, uncertainty about the forecast has increased due to the ongoing conflict in Ukraine, rising inflationary pressures, and expected policy tightening in advanced economies," it said.
Source: The Edge Markets