WTO revises growth projections upwards, record year-on-year expansion
World Trade Organisation (WTO) revised its projection for world trade growth in 2010 upwards to 13.5%, following faster-than-expected recovery in global trade flows so far in 2010. The WTO's Mar-2010 forecast was a 10% expansion in trade volumes. Merchandise exports of developed economies are predicted to expand by 11.5% in volume terms while the rest of the world – including developing economies and the CIS – is expected to see an increase of 16.5% for the year. This would be the fastest year-on-year expansion of trade ever recorded in WTO data series tracking back to 1950. [more]
WTO: "This surge in trade flows provides the means to climb out of this painful economic recession and can help put people back to work. It underscores, as well, the wisdom governments have shown in rejecting protectionism,” Pascal Lamy, Director-General. Source: WTO, 21-Sep-2010.