{"id":35811,"date":"2022-04-12T23:11:23","date_gmt":"2022-04-12T17:41:23","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-wto-trade-forecast\/"},"modified":"2022-04-12T23:11:23","modified_gmt":"2022-04-12T17:41:23","slug":"biz-wto-trade-forecast","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-wto-trade-forecast\/","title":{"rendered":"WTO lowers global trade volume growth forecast to 3 pc for 2022"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3024785778\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Apr 12 (PTI) The world merchandise trade volume is expected to grow by 3 per cent in 2022 against the earlier forecast of 4.7 per cent, mainly due to the ongoing war between Russia and Ukraine, the WTO said on Tuesday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-724139296\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>Prospects for the global economy have darkened since the outbreak of war in Ukraine on February 24, prompting WTO economists to reassess their projections for world trade over the next two years, the World Trade Organisation (WTO) said in a statement.<\/p>\n<p>&#8220;The organisation now expects merchandise trade volume growth of 3 per cent in 2022 &#8212; down from its previous forecast of 4.7 per cent &#8212; and 3.4 per cent in 2023, but these estimates are less certain than usual due to the fluid nature of the conflict,&#8221; it added.<\/p>\n<p>The most immediate economic impact of the crisis has been a sharp rise in commodity prices.\u00a0 \tDespite their small shares in world trade and output, Russia and Ukraine are key suppliers of essential goods, including food, energy, and fertilisers, supplies of which are now threatened by the war, the statement said.\u00a0 \tGrain shipments through Black Sea ports have already been halted, with potentially dire consequences for food security in poor countries, it noted.<\/p><div class=\"trade-content_5\" id=\"trade-54165752\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Besides the war, lockdowns in China to prevent the spread of COVID-19 are again disrupting seaborne trade at a time when supply chain pressures appeared to be easing, it said, adding this could lead to renewed shortages of manufacturing inputs and higher inflation.<\/p>\n<p>&#8220;The war in Ukraine\u2026has also damaged the global economy at a critical juncture. Its impact will be felt around the world, particularly in low-income countries, where food accounts for a large fraction of household spending,&#8221; Director-General Ngozi Okonjo-Iweala said.\u00a0 \t&#8220;In a crisis, more trade is needed to ensure stable, equitable access to necessities. Restricting trade will threaten the wellbeing of families and businesses&#8230;,&#8221; she said.<\/p>\n<p>She added that governments and multilateral organisations must work together to facilitate trade at a time of sharp inflationary pressures on essential supplies and growing pressures on supply chains.<\/p>\n<p>These growth projections will be updated in October, but an earlier revision could be issued if incoming data warrant it, the statement said. PTI RR  BAL BAL<\/p>\n<div class=\"trade-after-content\" id=\"trade-572811136\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Apr 12 (PTI) The world merchandise trade volume is expected to grow by 3 per cent in 2022 against the earlier forecast of 4.7 per cent, mainly due to the ongoing war between Russia and Ukraine, the WTO said on Tuesday. Prospects for the global economy have darkened since the outbreak of war [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1710,1697,31],"tags":[],"class_list":["post-35811","post","type-post","status-publish","format-standard","hentry","category-commodity-prices","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>WTO lowers global trade volume growth forecast to 3 pc for 2022 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-wto-trade-forecast\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WTO lowers global trade volume growth forecast to 3 pc for 2022\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Apr 12 (PTI) The world merchandise trade volume is expected to grow by 3 per cent in 2022 against the earlier forecast of 4.7 per cent, mainly due to the ongoing war between Russia and Ukraine, the WTO said on Tuesday. 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