WTO downgrades forecast for global GDP growth this year

Jeyla Aliyeva
Author

The World Trade Organization (WTO) has downgraded its forecast for global GDP growth in 2022, Report informs referring to the WTO report.

Global GDP at market exchange rates is expected to grow by 2.8% in 2022, 1.3 percentage points below the previous forecast of 4.1%, the report says.

Growth is also reported to accelerate to 3.2% in 2023, close to the 3% average index between 2010 and 2019.

According to the report, the estimates reflect the direct impact of Russia’s military actions in Ukraine.

Other News

Manothong Vongsay: Laos interested in importing Azerbaijani oil – INTERVIEW 14 October, 2026 / 15:11
Nearly $650,000 to be invested in PPP projects in Azerbaijan 14 October, 2026 / 13:15
Elnur Aliyev: Transformation roadmaps prepared for 18 local enterprises 14 October, 2026 / 12:29
Azerbaijan to establish Competition Research Center 14 October, 2026 / 11:41
Ilham Aliyev addresses participants of Rebuild Garabagh exhibition 14 October, 2026 / 11:15
Azerbaijani business delegation plans visit to Vietnam in 2027 14 October, 2026 / 10:46
Laos proposes establishing joint business council with Azerbaijan 14 October, 2026 / 10:44
Laos invites Azerbaijani businesses to its special economic zones on preferential terms 14 October, 2026 / 10:42
Baku hosting 3rd National Competition Forum 14 October, 2026 / 10:38
Laos and Azerbaijan negotiating bilateral investment agreement 14 October, 2026 / 10:36
Azerbaijan invites Lao companies to participate in investment projects 14 October, 2026 / 10:33
Mikayil Jabbarov addresses participants of Rebuild Garabagh exhibition 14 October, 2026 / 10:23
Nakhchivan's foreign trade turnover up over 67% 13 October, 2026 / 17:51
Azerbaijan spends 1.39 billion manats on pharmaceuticals and medical supplies 13 October, 2026 / 16:31
Cambodia sees cooperation with Azerbaijan in renewable energy, logistics 12 October, 2026 / 18:46
Cambodia offers Azerbaijani investors tax incentives for up to 12 years 12 October, 2026 / 16:54
Mikayil Jabbarov: Cambodia can help Azerbaijan expand cotton processing 12 October, 2026 / 16:41
Azerbaijan, Cambodia exchange memo on co-op between their chambers of commerce 12 October, 2026 / 16:26
Minister: Azerbaijan's economy developing with private sector playing leading role 12 October, 2026 / 16:26
Azerbaijan preparing investment protection and promotion agreement with Cambodia 12 October, 2026 / 16:25