WTO Upgrades Forecast for 2017 as Trade Rebounds Strongly

September 21, 2017

WTO economists have issued a strong upward revision to their forecast for 2017 trade expansion following a sharp acceleration in global trade growth in the first half of the year.

The estimate for growth in world merchandise trade volume in 2017 was raised to 3.6%. The previous estimate for 2017 was 2.4%, though this was set within a range of 1.8%-3.6%, reflecting the high level of economic and policy uncertainty.

The new estimate puts the focus on the top end of that range. Growth of 3.6% would represent a substantial improvement on the lacklustre 1.3% increase in 2016… Stronger growth in 2017 was attributed to a resurgence of Asian trade flows as intra-regional shipments picked up and as import demand in North America recovered after stalling in 2016…

This was excerpted from 21 September 2017 press release by the WTO.

Topic(s)

International Trade and Border Management

Information source

World Customs Organization (WCO) / World Trade Organization (WTO)

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