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Home > BUSINESS > UNCTAD optimistic about global trade outlook.....

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UNCTAD optimistic about global trade outlook in 2024



NEW DELHI: Moderating global inflation and improving economic growth forecasts
an optimistic outlook for world trade in 2024, says the United Nations
Conference on Trade and Development (UNCTAD).

The decline in the value of global trade throughout 2023 was primarily driven by
reduced demand in developed nations and trade weaknesses within East Asia and
Latin American regions, UNCTAD said in its 'Global Trade Update'.

Lower commodity prices further contributed to lowering the value of
international trade in 2023. In contrast, trade in services saw growth for most
of 2023.



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