The World Trade Organization released its annual report in Geneva on the 10th, saying that as the slowdown in economic growth in Europe continues to inhibit global import demand, it is expected that the global trade volume in 2013 will only increase by about 3.3%, far below the average of 5.3% in the past 20 years. According to WTO economists, this data is mainly based on a 2.1% forecast for global economic growth in 2013. The report said that major economic risks are still concentrated in the European debt crisis and the process of fiscal austerity measures adopted by developed countries.
The WTO predicts that in 2013, the exports of developed countries will increase by 1.4%, the exports of developing countries will increase by 5.3%, and the imports of developed countries and developing countries will increase by 1.4% and 5.9% respectively.
The report also predicts that China's economic growth rate in 2013 will still be higher than other countries, which should be able to provide support for China's imports from other countries, but China's exports will continue to be constrained by the low demand in Europe.
Due to the low economic growth rate of the developed countries and the uncertain future of the euro, the global trade volume in 2012 only increased by 2%, far lower than the 5.2% in 2011.
The data shows that due to the decline in the prices of commodities, especially iron ore and coal, the total global merchandise exports increased by only 0.2% in 2012 to US$ 18.3 trillion; the total global business service exports increased by 2% to 4.3 trillion yuan. Dollars.
The WTO expects that the increase in world trade volume in 2014 will increase to 5%, while the global economy will increase by 2.7%.
WTO Director-General Lamy said that as long as the global economic weakness continues, pressure from trade protectionism will gradually increase. He called on all countries to focus on strengthening the multilateral trading system and avoid falling into the error of protectionism. He believes that trade can once again become the engine of economic growth and the support of the global economy.
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