WTO Slashed Trade Growth Forecast for 2013 to 3.3 Percent

The World Trade Growth Forecast was slashed to 3.3 percent by World Trade Organization. It asked to strengthen multilateral trade system.

Created On: Apr 11, 2013 15:15 ISTModified On: Apr 11, 2013 17:00 IST

The World Trade Organization (WTO) on 10 April 2013 slashed the forecast of global trade by 1.2 percent to 3.3 percent from previous 4.5 percent. The WTO called up for strengthening the trade via multilateral system to ensure trade emerges as the engine of growth.

WTO also informed that the trade growth of the world slowed to 2 percent in the year 2012 from the previous year 2011 rate of 5.2 percent. As per the details provided, the trade growth rate of the world is likely to remain low in 2013 as the economic slowdown of the European Countries was suppressing the global import.

Merchandise Trade: The forecast of merchandise trade for 2013 is 3.3 percent and this is below the average of 20 years from 1992 to 2012, i.e. 5.3 percent

Trade Forecast 2013
: The WTO made a forecast of 2.1 percent growth in world output and it depends upon the sovereign debt crisis in Europe

In 2012 the World Growth Rate was measured to be 2 percent but have gone down from 5.2 percent that was recorded in 2011.

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