WTO Says Global Trade Outlook “Cautiously Positive” for 2014

The trade outlook for the upcoming year is “cautiously positive”, WTO Director-General Roberto Azevêdo said last week, with global trade flows slated to increase between 4 and 4.5 percent this year. However, he warned, trade restrictions are also on the rise, which could put this growth in jeopardy.

The new figures were released as part of a broader global monitoring report, which reviewed trade and trade-related issues from October 2012 to November 2013. The report found that the volume of trade in goods expanded by less than 2.5 percent during that period, though this year’s estimates look more promising. The 4-4.5 percent prediction for 2014, however, is still below the historical average rate of 5.5 percent.

Despite these improved prospects, the report also found that 407 new restrictive measures were reported during the period under review, up from 308. The number of trade facilitating measures, by comparison, was at 107 - down from 162 the year prior.