Global trade unexpectedly contracted in 2023: WTO

Global trade unexpectedly contracted in 2023: WTO
Wednesday 10 April 2024 - 14:53

The World Trade Organization said Wednesday global merchandise trade volumes unexpectedly slumped by 1.2 percent in 2023, but trade should rebound this year.

“We are making progress towards global trade recovery,” WTO chief Ngozi Okonjo-Iweala said in a statement, stressing though that it was “imperative that we mitigate risks like geopolitical strife and trade fragmentation”.

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