WTO: bleak forecast for 2023

The World Trade Organization (WTO) expects global trade in the coming year to be noticeably lower than last year. Trade in goods will increase by only 1.0 percent, the WTO announced in Geneva on Wednesday. Previously, the organization had still assumed 3.4 percent growth. “The picture for 2023 has darkened considerably,” WTO Director-General Ngozi Okonjo-Iweala said.

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