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WTO raises outlook for global trade in good sign for economy

Published on Apr 14, 2014 7:44 PM
 
World Trade Organization (WTO) Director-General Roberto Azevedo gestures during a news conference on world trade in 2013 and prospect for 2014 in Geneva on April 14, 2014. Global commerce is set to grow by 4.7 per cent this year, the World Trade Organisation (WTO) said on Monday, with recovery in rich economies expected to mitigate risks in developing nations. -- PHOTO: REUTERS

GENEVA (AFP) - Global commerce is set to grow by 4.7 per cent this year, the World Trade Organisation (WTO) said on Monday, with recovery in rich economies expected to mitigate risks in developing nations.

The WTO previously had forecast that trade would expand by 4.5 per cent in 2014, up from an estimated rate of 2.1 per cent in 2013.

So the latest forecast points to substantially more than a doubling of the growth achieved last year.

Trade is a key measure of the health of the global economy which it both stimulates and reflects.

 
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