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WTO hikes trade growth forecasts for 2021 and 2022 By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – A logo outside of the World Trade Organisation, (WTO), Geneva, Switzerland September 28th 2021. REUTERS/Denis Balibouse

GENEVA (Reuters). The World Trade Organization raised its expectations for global goods trade growth this year, and in 2022. But it cautioned of a 2-track recovery and upside risks from the COVID-19 epidemic and problems with supply chains.

WTO announced Monday that merchandise trade will grow in this year’s world by 10.8%, following a decline of 5.3% for 2020. The WTO had in March predicted that 2021 would see 8.0% growth.

Geneva-based trade group said trade growth would slow to 4.7% in 2022. That’s more than the previous forecast of 4.0%. With trade moving closer to its pre-pandemic long term trend,

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