IMF downgrades its forecasts for global trade growth

The International Monetary Fund (IMF) has downgraded its forecast for global trade growth in 2024 to 3.3% and in 2025 to 3.6%, Report informs referring to the organization’s report.

According to the table values presented, world trade in 2024 will grow by 3.3%. This is 0.2 percentage points lower than the IMF’s previous forecast from October 2023. In 2025, growth is expected to be 3.6%, down 0.1 percentage point from the previous estimate.

As the chief economist and director of the IMF’s research department, Pierre-Olivier Gourinchas, noted at a special briefing dedicated to the publication of the report, despite the decline in world trade, the fund doesn’t see signs of de-globalization. The IMF assesses the current situation as a kind of plateau.