Overview of world trade in 1996 and the outlook for 1997 (WTO)

The volume of world merchandise trade increased by 4 per cent in 1996 - a gain similar to the trade growth recorded during 1990-93. The 4 per cent increase in 1996 comes after two years of unusually strong growth in world trade volume. The growth rate of world merchandise production was marginally slower for the second consecutive year, but remained well above the rates recorded in the first four years of the decade. A modest increase in trade growth is expected this year, based largely on the projected recovery of economic growth and trade in Western Europe and Asia, and continued high growth in Latin America. These are among the findings in the WTO Secretariat's first report on trade developments last year and the outlook for the current year