Publish dateSaturday 14 April 2012 - 18:28
Story Code : 39847
Global trade growth will fall to two-decade low in 2012
The World Trade Organization (WTO) has predicted that global trade growth will fall below the world average for the first time over the past two decades.
The WTO announced that growth in global exports will fall to 3.7 percent in 2012, a sharp fall from last year’s five percent and the nearly 14 percent merchandise exported across borders in 2010 Press TV reported.

The world economy had "lost momentum," with the 2011 figure plunging from the September forecast of 5.8 percent.

The body blamed the slowdown on economic shocks such as Europe’s sovereign debt crisis, also citing the effects of last year’s earthquake and tsunami in Japan and the floods in Thailand.

"More than three years have passed since the trade collapse of 2008-09, but the world economy and trade remain fragile," WTO Director General Pascal Lamy said.

"The further slowing of trade expected in 2012 shows that the downside risks remain high. We are not yet out of the woods," he said.

Lamy warned that “the sluggish pace of recovery” could lead to gradual adoption of restrictive trade measures by countries, which could gradually “undermine the benefits of trade openness.”
Source : Afghan Voice Agency (AVA), International Service
https://avapress.com/vdccm4q1.2bqo08y-a2.html
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