‘Modest’ world trade growth

The World Trade
Organisation is predicting
a ‘modest’ 6.5% expansion
in world trade for the year
ahead following last year’s
record-breaking 14.5%
surge in the volume of
exports.
“The sharp rise in trade
volumes last year enabled
world trade to recover
to its pre-crisis level but
not its long-term trend,
and WTO economists
believe the recent series of
important events around
the world lend a greater
degree of uncertainty to
any forecast,” said WTO
director-general Pascal
Lamy.
“The figures show
how trade helped the
world escape recession
in 2010. However, the
hangover from the financial
crisis is still with us.
High unemployment in
developed economies and
sharp belt-tightening in
Europe will keep fuelling
protectionist pressures.”