On 01 December 2010 the WTO announced that the “trade value growth slowed in the third c\quarter of 2010”. According to the WTO, the value of world merchandise trade was 18% higher in the third quarter of 2010 than in the same period of 2009. However, this marked a slow-down in comparison with the 26% increase registered in the second quarter of 2010. From 01 January 2010 to 30 September 2010 trade expanded by 23%, continuing the recovery that began in the second quarter of 2009. Despite this positive trend, the value of world trade remains below its peak level from before the present financial crisis. According to the WTO it will not be revising its projection of 13.5% merchandise trade volume growth for 2010, which it issued on 20 September 2010.