World Trade Organization economists have downgraded their forecast for world trade growth in 2014 and 2015 amid uneven economic growth and continuing geopolitical tensions, according to a Sept. 23 WTO press release. World merchandise trade is now estimated at:
- to increase by 3.1 percent in 2014, down from the 4.7 percent projected in April
- to increase by 4 percent in 2015, down from 5.3 percent.
- Trade grew by less than 2.5 percent in 2013, which the WTO linked to a substantial increase in new trade restrictions.
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