News
World trade to grow by 9 per cent this year
World trade is expected to grow by 9.5% this year, with growth in developed economies of 7.5% and growth in emerging economies of 11%, according to the World Trade Organisation (WTO).
The WTO said the increase in trade would help recover some, but not all, the ground lost in 2008 when global trade contracted by 12.2% - the largest decline since World War Two.
Director-General Pascal Lamy said: “We see the light at the end of the tunnel and trade promises to be an important part of the recovery. But we must avoid derailing any economic revival through protectionism.” (source: IFW)