The World Trade Organization has upgraded its trade forecasts, following the resurgence of global economic activity. While the rebound beat expectations, the WTO said there are big divergences across regions. The WTO has estimated that merchandise trade volume will grow 10.8% in 2021, up from the 8% forecast it issued in March. For 2022, it sees trade growth slowing to 4.7%, also higher than the previous forecast of 4%.

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