Brasília – After a poor international trade performance in 2012 due to the international economic crisis’ impact, especially in some European countries, the year begins on a trend of sluggish growth. The World Trade Organization (WTO) has revised down the forecasts for 2013. The WTO’s projection is that growth should remain at a moderate level of approximately 3.3%.
The growth of global trade was down to 2% in 2012 from 5.2% in 2011. In a document released by the organization, observers warn that the effects of the crisis in 2012 must be taken as a warning on the frailty of the world economy. The priority must be to “repair” the weak points, according to the organization.
The strong deceleration of trade last year has been ascribed to low growth rates in developed economies and the repeated episodes of uncertainty regarding the future of the euro. To the WTO, China’s growth should remain the strongest compared to other major economies, thus cushioning the potential impact of the slowdown.
Exports, however, remain limited due to weak demand from Europe. According to the WTO’s observers, 2013 seems destined to be almost a repetition of 2012, with sluggish growth in trade and production below long-term averages.
*Translated by Gabriel Pomerancblum
