World trade suffering decline – UN ...News

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World trade suffering decline – UN
source : Russia Today ( News ) () 22
The downturn is due to geopolitical tensions and export underperformance from developing nations, according to a report Global trade will contract by 5% in 2023 compared to last year, the United Nations Conference on Trade and Development (UNCTAD) reported this week, expressing a generally negative outlook for 2024. According to the UNCTAD’s estimates, world commerce is expected to amount to approximately $30.7 trillion this year. The UN body projected a decrease in goods trade by about $2 trillion, or 8%, while trade in services is anticipated to grow by approximately $500 billion, or 7%. The UNCTAD attributed th

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