Global trade growth to slow to 1.7 pct in 2023: WTO report

STORY: Global trade growth to slow to 1.7 pct in 2023: WTO report DATELINE: April 6, 2023 LENGTH: 00:02:17 LOCATION: GENEVA, Switzerland CATEGORY: ECONOMY SHOTLIST: 1. exterior of World Trade Organization (WTO) building 2. SOUNDBITE (English): RALPH OSSA, WTO Chief Economist 3. various of WTO & the report STORYLINE: Global trade growth in 2023 will slow to 1.7 percent, the World Trade Organization (WTO) said in its annual trade statistics and outlook report, published on Wednesday. The volume of world merchandise trade has been weighed down by the effects of the conflict in Ukraine, high inflation, tighter monetary policy and financial market uncertainty, the report said. However, the forecast for trade growth in 2023 is up from the previous estimate of 1.0 percent from last October. China's adjustment of its COVID-19 measures is a "key factor" in this increase, the report said. The Chinese market is expected to boost international trade, the report said. Dragged down by a sharp slump in the fourth quar