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Global trade to grow 2.5% in 2012: WTO
- Middle East: Sunday, September 23 - 2012 at 09:14
The World Trade Organisation (WTO) has said global trade is to grow by a mere 2.5% this year, dragged down by Europe to less than half of the previous 20-year average, Reuters has reported. The estimate was a revision of the WTO's previous 2012 growth forecast of 3.7%, which it made in April. It also forecast trade would expand by 4.5% in 2013, revised down from 5.6%. "I see the risk more on the downside than the upside," WTO director general Pascal Lamy said.
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