The World Trade Organization (WTO) has updated its projections for global trade in upcoming years, reflecting a slower-than-expected recovery from the CCP (Chinese Communist Party) virus as a result of Russia’s ongoing invasion of Ukraine.
On Tuesday, the WTO issued a press release revising its predictions for global trade in 2022. Whereas the organization previously forecasted 4.7 percent growth in trade, the new figures call for mere 3 percent growth. The group also predicted 3.4 percent growth in trade for 2023.
