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WTO Lifts 2017 Trade Growth Forecast
Citing strong intra-regional trade in Asia and a rebound in import demand in North America, the World Trade Organisation (WTO) has sharply revised up its forecast for annual global trade growth in 2017 from 2.4% to 3.6%. This represents a significant acceleration from expansion of just 1.3% in 2016. Trade growth is expected to remain robust in 2018 at 3.2% however, the WTO cites economic protectionism, geopolitical instability and natural disasters as potential risks to future expansion.