Global trade to see uptick this year: WTO

WTO today said the growth of the global trade is expected to rebound this year if the world economy recovers and governments pursue the right policy mix.
The recovery in the world trade will help India in increasing its shipments.
The Geneva-based global trade body forecast that global trade will expand 2.4 per cent in 2017.
However, it said as deep uncertainty about near-term economic and policy developments raise the forecast risk, "this figure is placed within a range of 1.8 per cent to 3.6 per cent".
In 2018, it is forecasting trade growth between 2.1 per cent and 4 per cent.

"Growth in the volume of world merchandise trade is expected to rebound this year from its tepid performance in 2016, but only if the global economy recovers as expected and governments pursue the right policy mix," it added.

It also said the unpredictable direction of the global economy in the near term and the lack of clarity about government action on monetary, fiscal and trade policies raises the risk that trade activity will be stifled.
"A spike in inflation leading to higher interest rates, tighter fiscal policies and the imposition of measures to curtail trade could all undermine higher trade growth over the next two years," it added.

Expressing hope, WTO Director-General Roberto Azevedo said that if policymakers attempt to address job losses with severe restrictions on imports, trade cannot help boost growth and may even constitute a drag on the recovery.