New Delhi: The World Trade Organisation (WTO) on Thursday lowered the trade growth projection for 2023 to 0.8 per cent amid global manufacturing slowdown.
A WTO statement said the projections for growth in global merchandise trade in 2023 have been scaled back by WTO economists amid a continued slump that began in the fourth quarter of 2022.
According to the latest WTO trade forecast, the “volume of world merchandise trade is now expected to grow by 0.8 per cent this year, less than half the 1.7 per cent increase forecasted in April”.