12:51 - 12.12.2023

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December 12, Fineko/abc.az. In 2023, the volume of world trade will decrease by 5% compared with 2022 and amount to $30.7 trillion. The trade outlook for 2024 is viewed as vaguely pessimistic.

ABC.AZ informs that this is stated in the report of the United Nations Conference on Trade & Development (UNCTAD). It is noted that since the middle of 2022, world trade has gone into negative territory. This occurred mainly because of significant decline in commodity trade, which continued to decline during the first three quarters of 2023.

The global trade is projected to reach about $30.7 trillion in 2023, which is about $1.5 trillion, or 5% less than in 2022.