The WTO has revised its forecast for world merchandise trade growth in 2024 to 2.7% – up slightly from the previous estimate of 2.6% – and to 3.0% in 2025 from 3.3% previously.

World real GDP growth at market exchange rates is expected to remain steady at 2.7% between 2023 and 2025. The fastest growing region in 2024 is likely to be Asia, where output is expected to climb to 4.0%, while the slowest growing region is likely to be Europe at 1.1%.

The US dollar value of world merchandise trade was nearly unchanged in the first half of 2024 compared to a year earlier while services trade was up 8% in the first quarter.

Rising trade volume and flat trade values implies a decline in export and import prices of around 2.6%. Among commercial services, the highest growth was achieved by travel, which rose 19% in Q1.

Source: WTO
Post by: Republic of Türkiye Ministry of Trade