The WTO reported that global trade crossed pre pandemic levels. This was revealed in the WTO 2021 and 2022 trade forecasts.
Their office said, “The WTO is now predicting global merchandise trade volume growth of 10.8% in 2021 — up from 8% forecasted in March — followed by a 4.7% rise in 2022, up from 4%”.
They continued by saying that there may be issues on the supply-side, like, semiconductor scarcity and port backlogs and a resurgence of COVID which (can stop supply).
The WTO DG said, “Trade has been a critical tool in combating the pandemic, and this strong growth underscores how important trade will be in underpinning the global economic recovery”.
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