World trade is expected to grow by 4.7% in 2014 and at a slightly faster rate of 5.3% in 2015, World Trade Organisation (WTO) economists said on Monday, upgrading their growth prediction for the year from a preliminary forecast of 4.5% trade growth for the 12 months.
Although the 2014 forecast of 4.7% was more than double the 2.1% increase of last year, the organisation cautioned that it remained below the 20-year average of 5.3%. For the past two years, trade growth had averaged only 2.2%.
By: Natalie Greve
Read the full article here: http://www.engineeringnews.co.za/article/wto-upgrades-2014-global-trade-forecast-to-47-2014-04-14/rep_id:3182
