World Trade in 2008

PRESS/554

23 March 2009
WORLD TRADE 2008, PROSPECTS FOR 2009

WTO sees 9% global trade decline in 2009 as recession strikes

The collapse in global demand brought on by the biggest economic downturn in decades will drive exports down by roughly 9% in volume terms in 2009, the biggest such contraction since the Second World War, WTO economists forecast today (25 March 2009). “Trade can be a potent tool in lifting the world from these economic doldrums. In London G20 leaders will have a unique opportunity to unite in moving from pledges to action and refrain from any further protectionist measure which will render global recovery efforts less effective,” said Director-General Pascal Lamy.

http://www.wto.org/english/news_e/pres09_e/pr554_e.htm