What is the World Economic Forum's outlook on global trade?

The WEF sees global trade evolving towards more regional, digital, and flexible arrangements, with a rise in mini-lateral deals.

How is digital trade performing compared to merchandise trade?

Digitally delivered services grew by approximately 6% last year, significantly outperforming merchandise trade's 2.4% growth.

What types of trade agreements are expected to grow, according to WEF economists?

Economists expect continued growth in bilateral trade agreements (94%) and an acceleration of regional trade agreements (64%).

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Global Trade Reshapes: Mini-Laterals and Digital Surge

19 Jan

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Summary

Multilateral trade systems face challenges, with mini-lateral deals emerging.
Digital services trade grows twice as fast as merchandise trade.
Economists predict continued growth in bilateral and regional trade agreements.

Global Trade Reshapes: Mini-Laterals and Digital Surge

The landscape of international trade is dramatically shifting, according to Kimberley Botwright of the World Economic Forum. Emerging trends indicate a move away from purely multilateral systems towards more flexible cooperation, including mini-lateral and plurilateral agreements among a select group of nations.

Economists surveyed by the WEF foresee robust growth in both bilateral and regional trade deals. Concurrently, digital trade is expanding at a remarkable pace, far exceeding the growth rate of physical merchandise trade, highlighting a fundamental change in commerce.