WTO trims global trade growth forecast for 2019 to 2.6% from 3.7%

For this year, the downside risks again outweigh the upside potential

Global trade growth is expected to be lower in 2019 than it was last year, the World Trade Organization forecast on Tuesday. This could have a major impact on the outbound shipment from India. 

The WTO revised growth to 2.6 per cent from its earlier estimates of 3.7 per cent. This is lower than the 3 per cent growth recorded in 2018. It attributed its dismal outlook to widespread “tensions” and economic uncertainty. 

It, however, said trade growth could rebound to 3 per cent in 2020, but this is dependent on easing of trade tensions.  

"The fact that we don't have great news