WTO cuts 2015 global trade growth outlook

Geneva

GLOBAL commerce is expected to grow just 3.3 per cent this year, the World Trade Organization (WTO) said on Tuesday, slashing its previous forecast of 4.0 per cent over weak global economic growth and rising geopolitical tensions.

The trade body also said preliminary estimates showed trade had expanded just 2.8 per cent last year, missing September's forecast of 3.1 per cent.

"Trade growth has been disappointing in recent years due largely to prolonged sluggish growth in GDP following the financial crisis," said WTO chief Roberto Azevedo. "Looking forward, we expect trade to continue its slow recovery but with …