• Friday, August 19, 2022

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Escalating Trade Tensions, Tighter Credit Markets to Slow World Trade Growth: WTO

Escalating trade tensions, Tighter Credit Markets to Slow Trade Growth: WTO (Photo: FABRICE COFFRINI/AFP/Getty Images).

By: Radhakrishna N S

Escalating trade tensions and tighter credit market conditions in important markets will slow world trade growth for the rest of this year and in 2019, World Trade Organisation (WTO) economists expect. Global trade will continue to expand but at a more moderate pace than previously forecast, WTO said on Thursday (27). WTO anticipates growth in merchandise trade volume of 3.9 per cent in 2018, with trade expansion slowing further to 3.7 per cent in 2019. The new forecast for 2018 is below the WTO’s April 12 estimate of 4.4 per cent but falls within the 3.1 per cent to 5.5…

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