WTO improves world trade forecast
The World Trade Organization (WTO) has improved its 2021 global trade growth forecast but warned of widening regional disparities. The turnover of world trade in 2021 will grow by 10.8%, and not by 8%, as the organization predicted in March. Growth will slow to 4.7% in 2022, not 4%. On a quarterly basis, year-on-year trade turnover jumped 22% in the second quarter, but this is a low base effect. In the third quarter, growth will decrease to 10.9%, in the fourth - to 6.6%.