Statsguru: Six charts show mounting trade troubles amid uncertain outlook

WTO also revised global growth figures downwards. It now expects the world to register a 2.3 per cent growth, compared to the April estimate of 3.2 per cent for 2023

The latest estimates from the World Trade Organization (WTO) suggest that growth in global merchandise trade in 2023 would dip to 1 per cent from 3.5 per cent in the current year (chart 1). Earlier, in April, the trade organisation had predicted merchandise trade to expand by 3.4 per cent in 2023. Africa and West Asia may witness a contraction in exports in the coming year. In contrast, the Commonwealth of Independent States, comprising Eastern Europe and Asian countries, will experience the highest growth rate. Northern American countries are expected to record 1.4 per cent trade growth.

WTO also revised