IMF lowers its forecast for 2023 global trade growth

The International Monetary Fund (IMF) has significantly lowered its forecast for growth in global trade in goods and services in 2023 to 0.9% after growth of 5.1% in 2022, Report informs.

The forecast for global trade growth this year has been cut by 1.1 percentage points compared to the July estimate. At the same time, in 2022, the volume of world trade in goods and services grew by 5.1%.

In 2024, the IMF estimates that global trade will increase by 3.5%, down 0.2 percentage points from its previous estimate.