World trade growth will be stronger this year and next than previously expected. At least, that is what the World Trade Organization (WTO) expects, which has revised its forecasts for this year and next year upwards.
At the same time, warnings were issued about the risks posed by the corona pandemic and the problems in supply chains that could hinder recovery.
For this year, the WTO expects growth in goods trade of almost 11 percent, after a contraction of more than 5 percent a year earlier. In March, the organization still expected growth of 8 percent.
The Geneva-based trade body also expects trade growth to slow to 4.7 percent next year, ahead of its previous forecast of 4 percent. With that increase, world trade would be almost back in line with its long-term pre-crisis goals.