Home / Knowledge / News / WTO predicts murky trade period in 2009
WTO predicts murky trade period in 2009
Apr '09
WTO economists have forecast a collapse in the global demand by 9% due to the economic downturn in the current year. This is believed to be the biggest contraction since the Second World War.

Exports from developed countries are expected to shrink by 2 to 3%. In many countries, particularly in Asia, decline in export figures were already posted during 2008, as demand sagged and production slowed showing signs of a sharp deterioration.

World economic growth measured by Gross Domestic Product (GDP) slowed abruptly in 2008 against the backdrop of the worst financial crisis since the 1930s.

Feeble demand in developed economies resulted in a fall in the asset prices. Increased economic uncertainty crashed the world output growth down to 1.7%, from 3.5% a year earlier.

Growth in 2008 was the slowest since 2001 and also when compared with a 10 year average rate of 2.9%. Global merchandise trade is predicted to fall some 9% in volume terms in 2009, with developed economy exports falling by some 10% on average and developing country exports shrinking by 2-3%.

Click here to read the complete article.

Fibre2fashion News Desk - India

Must ReadView All

(L-R) Mr Shao Bojin, Chairman of Jihua Group and Mr Rohit Aggarwal, President of Huntsman Textile

Textiles | On 28th Oct 2016

Huntsman gets into strategic partnership with Jihua Group

Huntsman Textile Effects, the leading provider of high quality dyes...

Marzoli FT6D roving frames in Sintex’s Unit 2. Coutresy: Marzoli

Textiles | On 28th Oct 2016

Marzoli roving frames erected at Sintex textile division

A total of 48 Marzoli roving frames were erected in units I, II and...

Courtesy: Polartec

Textiles | On 28th Oct 2016

Polartec innovates most breathable waterproof fabric

Polartec, the premium provider of innovative textile solutions, has...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search