{"id":116843,"date":"2021-04-02T10:51:29","date_gmt":"2021-04-02T02:51:29","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=116843"},"modified":"2021-04-02T10:51:31","modified_gmt":"2021-04-02T02:51:31","slug":"global-trade-to-grow-a-bit-faster-at-8-this-year-wto","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=116843","title":{"rendered":"Global trade to grow a bit faster at 8% this year &#8211; WTO"},"content":{"rendered":"\n<figure class=\"wp-block-image alignwide\"><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/africa\/Global-trade-to-grow-a-bit-faster-at-8-this-year-WTO-1222120?gallery=1\"><img src=\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/691\/69138946.295.jpg\" alt=\"World Trade Organisation Director-General, Dr. Ngozi Okonjo-Iweala\"\/><\/a><\/figure>\n\n\n\n<p style=\"text-align:center\"><strong><em>World Trade Organisation Director-General, Dr. Ngozi Okonjo-Iweala<\/em><\/strong><\/p>\n\n\n\n<p>GENEVA, April 2 (NNN-AGENCIES) &#8212; International trade is set to grow a bit faster this year than previously predicted, the World Trade Organization said.<br><br>The volume of global trade contracted by 5.3% in 2020, less than expected as the pandemic hit.<br><br>According to WTO Managing Director, Dr. Ngozi Okonjo-Iweala, trade is set to grow 8 % this year.<br><br>&#8220;Following a sharp decline in the first half of the year, trade recovered more quickly than expected in the second half of 2020. This rebound has continued and the WTO&#8217;s baseline trade forecast forsees an 8% increase in the volume of World merchandise trade for 2021&#8221;, Dr. Okonjo-Iweala said.<br><br>Dr. Ngozi Okonjo-Iweala sees the frustrations caused by the blockade of the &#8220;Ever Given&#8221; on the Suez Canal last week as a good sign for growth in global trade.<br><br>A year ago, the organization cautioned that global trade could plummet by a third in 2020 due to the pandemic. But it had already revised that estimate to an expected 9.2-percent drop.<br><br>&#8220;The fact that the Ever Given was able to cause so much disruption is a sign that global merchandise trade is relatively robust and that global supply chains have held up through the pandemic&#8221;, the WTO boss added.<br><br>According to the global trade body, while trade for this year will be stronger than expected, growth is forecast to slow to 4% in 2022.<br><br>The WTO however cautions the still-raging coronavirus pandemic could thwart any rebound in global trade. &#8212; NNN-AGENCIES<\/p>\n","protected":false},"excerpt":{"rendered":"<p>World Trade Organisation Director-General, Dr. Ngozi Okonjo-Iweala GENEVA, April 2 (NNN-AGENCIES) &#8212; International trade is set to grow a bit faster this year than previously predicted, the World Trade Organization said. The volume of global trade contracted by 5.3% in 2020, less than expected as the pandemic hit. According to WTO Managing Director, Dr. Ngozi [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":116846,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[209,217],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/116843"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=116843"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/116843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/116846"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=116843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=116843"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=116843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}