WTO cuts global trade growth forecast
The 1.7% figure is down significantly from the WTO’s reported forecast of 2.8% in April. It is also the first time in 15 years that trade growth would fall behind world economic growth.
In its outlook report, WTO Director-General Roberto Azevedo underlined that these figures should be a “wake-up call” for governments. Data supports concerns that governments are taking protectionist attitudes by protecting their own industries rather than promoting global trade.
Meanwhile, the WTO also reduced its 2017 forecast to a slower growth rate of 1.8-3.1%; down from the previously announced 3.6% in April.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PVC market in China suffers larger declines than in India
- African PE markets hit historical lows on greater competition from US supply
- Italy’s PVC market takes a downward turn in Nov following ethylene
- Turkey’s import PP market hovers around 3-year low as activity stays depressed
- HDPE moves below LDPE, LLDPE after almost two years in Asia
- Price gap between PS and styrene widens in Asia
- Turkey's polymer imports rebound in Q3; will 2019 end with a smaller-than-expected fall?
- China's PE imports hit a new record of 12 m tons in first 3 quarters
- Year-end stock clearing adds to bearish PE trend in SE Asia
- Tax on plastic packaging causes jitters among Italian players