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WTO says goods trade fell in Q3, Omicron raises risks

WTO says goods trade fell in Q3, Omicron raises risks
WTO says goods trade fell in Q3, Omicron raises risks   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p><span class="caps">GENEVA</span> – The World Trade Organization said on Monday that global merchandise trend fell by 0.8% in the third quarter, adding that the emergence of the Omicron coronavirus variant had raised the risk of missing the forecast 2021 growth rate.</p> <p>Trade volume slipped between July-September due to supply chain disruptions, shortages of production inputs and rising <span class="caps">COVID</span>-19 cases, the <span class="caps">WTO</span> said in a statement on its website.</p> <p>A 2021 growth target could theoretically still be met, it said, but the emergence of Omicron has “tipped the balance of risks towards the downside, increasing the chance of a more negative outcome.”</p> <p/> </div>