Global trade growth projected to slow to 1.7 percent in 2023: WTO

Growth in global trade is projected to slow to 1.7 percent this year, down from 2.7 percent in 2022, the World Trade Organization said Wednesday.

"The pace of trade expansion in 2023 is still expected to be subpar, weighed down by the ongoing war in Ukraine, stubbornly high inflation, tighter monetary policy and financial uncertainty," WTO said in its annual trade forecast.