WTO: Global commodity trade growth may be less than 3.3% this year

Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, said that the growth rate of “global” merchandise trade could fall below 3.3% this year.

Ngozi Okonjo-Iweala added during an event in Abu Dhabi, “It appears that the growth in global merchandise trade volume in 2023 has fallen from the 0.8% that we expected in October… Given all the downside risks, it is likely that we will not achieve the 3.3% merchandise trade growth rate for this year.”