World trade expanded last year despite the crisis

Global Merchandise export increased by 15 percent nominally and in real terms by 20 percent to 15.78 billion USD, while services increased by 11 percent to $ 3.73 billion USD – stated the World Trade Organization (WTO).

According to one of WTO’s Chief Economist, world trade will grow better than the global export prices, while the global production is not growing at all. However, when the world’s economic performance has been decreasing, the trade begins to decline at a faster pace, as it will probably this year.
The International Monetary Fund (IMF) significantly improved the prediction of the next year. The world's total domestic product (GDP) this year is expected to be reduced by 1.4 percent, while to the next year 2.5 percent increase is expected – reports Origo.