WTO raises 2010 trade growth forecast to 13.5 percent

20th September 2010, Comments 0 comments

The World Trade Organization on Monday raised its trade growth forecast for 2010 to 13.5 percent from 10 percent, describing the pace as the fastest-ever annual expansion.

"Following faster-than-expected recovery in global trade flows so far in 2010, WTO economists have revised their projection for world trade growth in 2010 upwards to 13.5 percent," said the trade body in a statement.

The forecast growth marks a sharp recovery from a 12.2 percent plunge in world trade in 2009, when exports were hurt by the economic slowdown.

"This would be the fastest year-on-year expansion of trade ever recorded in a data series going back to 1950," noted the WTO.

© 2010 AFP

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