Dollar values of international trade flows have been strongly influenced by exchange rates in recent years. In 2016, world merchandise exports were valued at US$ 15.46 trillion, down 3.3% from the previous year.
World merchandise trade volume is forecast to grow 2.4% in 2017, but due to a high level of uncertainty, this is placed within a range of 1.8-3.6%.
In 2016, the weak trade growth of just 1.3% was partly due to cyclical factors as economic activity slowed across the board, but it also reflected deeper structural changes in the relationship between trade and economic output.
Trade growth in 2018 should pick up slightly to between 2.1-4.0%.
Source: WTO
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