GUARDING OVER GOODS This July 16, 2020 file photo shows part of the exterior of the World Trade Organization headquarters in Geneva, Switzerland. XINHUA PHOTOGENEVA: Russia's invasion of Ukraine could cut world trade growth almost in half this year and also drag global gross domestic product (GDP) expansion, the World Trade Organization (WTO) projected on Monday. The Geneva-based global trade body made the projection ahead of its annual world trade forecast report on Tuesday. It said that while the shares of Russia and Ukraine in overall world trade and output were relatively small, they were important suppliers of essential products, notably food and energy. "The model also projects that global trade growth this year could be cut almost in half from the 4.7 percent the WTO forecasted last October to between 2.4 percent and 3 percent."

Source: Manila Times April 12, 2022 22:24 UTC