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WTO revises world trade growth forecast downwards

01 Oct '15
4 min read


Despite the quarterly declines in the first half of 2015, year-on-year growth in trade for the year to date remains positive at 2.3 per cent.

Quarterly export growth of developed economies was essentially flat in the first two quarters of 2015 (-0.2 per cent on average in Q1 and Q2), but those of developing countries were more negative ( 1.9 per cent). The drop in exports was driven by weaker developing countries' imports (-2.2 per cent) and stagnation in developed countries' imports (+0.1 per cent).

Trade growth remains uneven across countries and regions. After a long period of stagnation, Europe recorded the fastest year-on-year export growth of any region in Q2 at 2.7 per cent, followed by North America (2.1 per cent), Asia (0.6 per cent), South and Central America (0.4 per cent) and Other Regions (-1.0 per cent, including Africa, the Commonwealth of Independent States and the Middle East). Disparities between regional growth rates was stronger on the import side than on the export side, with positive growth of 6.5 per cent in North America, 3.1 per cent in Asia and 1.6 per cent in Europe, and declines of 2.3 per cent in South and Central America and 3.1 per cent in other regions. (SH)

Fibre2Fashion News Desk – India

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