WTO cuts 2016 trade forecast to 2.8%
In September, the WTO estimated that global trade would rise by 3.9 per cent this year, but lowered that projection to 2.8pc, in an updated forecast.
“Trade is still registering positive growth, albeit at a disappointing rate,” WTO director general Robert Azevedo said in a statement.
Various factors were continuing to apply downward pressure on global commerce, the Geneva-based body said.
The rout on commodities prices has shown few signs of reversing, while the full extent of the slowdown in China — the world’s top commodities consumer — remains uncertain.
The WTO listed “a sharper-than-expected slowing in China (and) worsening financial market volatility” as factors that could further suppress global trade this year.
- BANvPAK: Hasan Ali’s double blow put wounded Bangladesh on back foot10:28 AM | 27 Nov, 2021
- Pakistan’s Muhammad Waseem beats Colombia's Barrera to bag WBC ...09:57 AM | 27 Nov, 2021
- Covid-19: Pakistan reports 411 new infections, 7 deaths in a day09:26 AM | 27 Nov, 2021
- Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, ...09:04 AM | 27 Nov, 2021
- Today's gold rates in Pakistan — 27 November 202108:42 AM | 27 Nov, 2021
- Pakistani stars heartbroken after rare white lion dies at Karachi Zoo05:22 PM | 26 Nov, 2021
- Latest video of TikTok star Alishbah Anjum’s takes the internet by ...03:57 PM | 26 Nov, 2021
- Hania Aamir's new dance video goes viral03:22 PM | 26 Nov, 2021