The World Trade Organization (WTO), led by Director General Ngozi Okonjo-Iweala, has improved its forecast on the volume of international trade in goods. While last October they predicted that it would increase by 1% in 2023, they now believe that growth will be 1.7% this year and 3.2% in 2024. This is below-average growth, as the volume of trade in goods has increased by an average of 2.6% each year since 2010, according to the World Trade Organization.

Latest forecasts: better than last October, worse than a year ago.

At the same time, they cited several risks that could cause the actual situation to be different from the forecast, and they mentioned geopolitical tensions and the war in Ukraine among the positive risks that could improve the situation, as well as the negative ones that could worsen it.

 

Source: Finance. The complete article in the Slovene language is available HERE.