(VOVWORLD) - The World Trade Organization has upgraded its forecast for global trade volume growth to 10.8% in 2021 and 4.7% in 2022 from its previous forecast of 8% and 4.7% made in March.
 Freight transportation at Tangshan port, Hebei, China. (Photo: Xinhua/VNA) |
The resurgence of global economic activity in the first half of this year after the previous year's slump, which bottomed out in the second quarter of 2020, led WTO economists to upgrade their forecast.
However, the group warned that downside risks still predominate, including strained global supply chains and new COVID-19 outbreaks.