The global economy will see its fifth consecutive year of below-par growth in international trade this year, marking its worst period since the 1980s, according to the World Trade Organisation.
In forecasts released yesterday the WTO said it expected the volume of international trade to grow by just 2.8 per cent this year, in line with 2015. But it said the forecast was laden with downside risks and highlighted an unusual five-year run of trade growing both below 3 per cent and in line with the broader global economy.
“Such a long, uninterrupted spell of slow but positive trade growth is unprecedented,” WTO economists wrote.
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