Global Trade Expected to Grow at 8% in 2021- WTO

There are indications that International trade is set to grow a bit faster this year than previously predicted, this is credited to the World Trade Organization.

WTO Managing Director, Dr. Ngozi Okonjo-Iweala, explained that following the contraction by 5.3% in 2020 and will be expected to pickup much faster at 8% this year.

”Following a sharp decline in the first half of the year, trade recovered more quickly than expected in the second half of 2020. This rebound has continued and the WTO’s baseline trade forecast forsees an 8% increase in the volume of World merchandise tr ade for 2021″, Dr. Okonjo-Iweala said.

“The fact that the Ever Given was able to cause so much disruption is a sign that global merchandise trade is relatively robust and that global supply chains have held up through the pandemic”, Dr. Ngozi Okonjo-Iweala added.


All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.
Your Friends Also Read:  First International Flight Lands In Lagos After 5 Months Closure

Contact: digital@newscentral.ng

Total
6
Shares

Leave a Reply

Previous Article

Tanzania Metrological Agency Sign Sh11.4 billion Deal

Next Article

The Mummies' Magnificent March Through Cairo

Related Posts
Powered by Live Score & Live Score App