WTO: Global Merchandise Trade Expected to Grow 1.7%

Global trade growth will remain below average in 2023, according to the World Trade Organization (WTO). Global merchandise trade volumes are expected to grow by 1.7% this year, following a 2.7% rise in 2022. Merchandise trade will grow 3.2 percent next year. The outlook for the world economy has improved slightly since last October. Digital services transactions reached $3.82 trillion in 2022.