Arab Today, arab today wto cuts 2015 global trade growth outlook to 33 from 4
Last Updated : GMT 09:09:51
Arab Today, arab today
Arab Today, arab today

WTO cuts 2015 global trade growth outlook to 3.3% from 4%

Arab Today, arab today

Arab Today, arab today WTO cuts 2015 global trade growth outlook to 3.3% from 4%

Global commerce is expected to grow
Geneva - AFP

Global commerce is expected to grow just 3.3 percent this year, the World Trade Organization said Tuesday, slashing its previous forecast of 4.0 percent over weak global economic growth and rising geopolitical tensions.

The trade body also said preliminary estimates showed trade had expanded just 2.8 percent last year, missing September's forecast of 3.1 percent.

"Trade growth has been disappointing in recent years due largely to prolonged sluggish growth in GDP following the financial crisis," said WTO chief Roberto Azevedo.

"Looking forward, we expect trade to continue its slow recovery but with economic growth still fragile and continued geopolitical tensions, this trend could easily be undermined," he warned.

Last year was the third consecutive year in which trade grew less than three percent.

"With geopolitical growth still fragile and geopolitical tensions ongoing we are cautiously forecasting that trade will continue its slow recovery," Azevedo told reporters.
Trade growth is expected to pick up in 2016 with an expansion of 4.0 percent, according to the WTO.

Trade is a key measure of the health of the global economy which it both stimulates and reflects.

But Azevedo warned Tuesday that a systemic shift might be underway and that trade expansion would no longer far outstrip overall economic growth as it had largely been doing for decades.

WTO pointed out that "the 2.8 percent rise in world trade in 2014 barely exceeded the increase in world GDP for the year, and forecasts for trade growth in 2015 and 2016 only surpass expected output growth by a small margin."

Azevedo said that the 2015 forecast was based on an assumption that global GDP would expand by nearly 3.0 percent, while the 2016 forecast depended on economic growth reaching over three percent.

The International Monetary Fund was expected to publish its latest global output outlook later Tuesday.

A year ago, the WTO was singing a different tune.

Last April, it had forecast that trade would expand 4.6 percent in 2014 and 5.8 percent this year.

But it downgraded those predictions in September.

"Conflict in the Middle East also stoked regional instability, as did an outbreak of Ebola haemorrhagic fever in west Africa," WTO said Tuesday, also pointing to unusually harsh winter weather in the United States and collapsing world oil prices.

Strong exchange rate fluctuations had also had a negative impact.

"All of these things have effects (and), sometimes destabilising effects," Azevedo said.

"For trade growth it is important that you have certain elements present in the global economy. One of them is stability, predictability, and those things are not there right now," he warned.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wto cuts 2015 global trade growth outlook to 33 from 4 Arab Today, arab today wto cuts 2015 global trade growth outlook to 33 from 4

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wto cuts 2015 global trade growth outlook to 33 from 4 Arab Today, arab today wto cuts 2015 global trade growth outlook to 33 from 4

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Prayers turn to nightmare

GMT 06:14 2017 Sunday ,22 October

Prayers turn to nightmare
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday