World trade growth slows

Falling import demand and slowing GDP growth in several major developing economies weakens trade growth.

World trade will grow more slowly than expected in 2016, expanding by just 1.7%, well below the April forecast of 2.8%, according to the latest World Trade Organization estimates. The forecast for 2017 has also been revised, with trade now expected to grow between 1.8% and 3.1%, down from 3.6% previously. With expected global gross domestic product (GDP) growth of 2.2% in 2016, this year would mark the slowest pace of trade and output growth since 2009 during the financial crisis.

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