The World Trade Organization (WTO) is forecasting that global trade will expand by 2.4 per cent in 2017 and between 2.1 per cent and 4 per cent in 2018, after a weak 1.3 per cent in 2016. However, unpredictable directions in near-term economic and policy developments could have negative influence. Lack of clarity about government action on monetary, fiscal and trade policies raises the risk that trade will be stifled.

Global economic growth has been unbalanced since the financial crisis, but for the first time in several years all regions of the world economy should experience a synchronised upturn in 2017, says the WTO. This could reinforce growth and provide an additional boost to trade.