World Bank Forecasts Slower Trade Growth Through 2030

The World Bank projects that trade growth is on track to slow over the decade to come as global economic growth slackens. The lasting effects of the COVID-19 pandemic, the Russian invasion of Ukraine and rising interest rates have put the brakes on economic activity, and trade growth through 2030 is expected to slow by 0.4 percentage points per year (relative to the previous decade). A long-term trend towards reshoring or nearshoring supply chains will also have a reducing effect on trade, according to the World Bank’s researchers. 

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