The world trade will grow this year by less than previously expected. Instead, with a growth rate of 3.7 percent is expected for 2019, only 2.6 per cent, said the world trade organization (WTO). In 2018, it was three percent. In 2020, the WTO holds a growth of three per cent. “In view of the enormous trade tensions, no one should be surprised about this Outlook,” said WTO Director-General Roberto Azevêdo. To weaken the rules-based trading system “would be a historic mistake – with implications for Jobs, growth and stability around the world”.
currently, the biggest risk of the trade conflict between the two economic superpowers, the United States and China, which have been coated with import duties. Still more can cause harm to the WTO that the US threat of import duties on cars. “The exchange between the U.S. and China, accounts for about three percent of world trade,” said WTO chief economist Robert Koopman. “The global automotive trade accounts for about eight percent of world trade. One can imagine that the impact of car tariffs will be greater.”
Disorderly Brexit is a risk
While the governments in Washington and Beijing are currently negotiating a settlement of their dispute, might announce US President Donald Trump later in the year, car duties against the European Union. The already high tensions should grow, could grow in the world trade in this year by only 1.3 percent, and warned the WTO. One of the risks of a disorderly EU-UK outlet. Vice versa could result in a solution to the conflicts, a larger increase of up to four percent.
“It is urgently necessary that we resolve the tensions and focus to lead the world’s trade on a positive path, which is a response to the real current challenges – how of the technological Revolution and the creation of jobs,” said WTO Director-General Azevêdo. The greater the uncertainty, the less investment and consumption fell.
German exporters are expected, regardless of the many risks this year with a sales record. The exports are expected to grow by up to three percent on the best brand of 1,357 trillion euros, said the Federal Association of wholesale, foreign trade and services (BGA) recently. Even in 2018, there had been a Plus in this size.
