NEW DELHI: The world merchandise trade volume is expected to grow by 3 per cent in 2022 against the earlier forecast of 4.7 per cent, mainly due to the ongoing war between Russia and Ukraine, the WTO said on Tuesday.
Prospects for the global economy have darkened since the outbreak of war in Ukraine on February 24, prompting WTO economists to reassess their projections for world trade over the next two years, the World Trade Organisation (WTO) said in a statement.
