WTO raises global trade outlook, cites gains for Pakistan

Summary

• The World Trade Organisation has significantly upgraded its forecast for global merchandise trade in 2026, saying Pakistan is among the countries that have benefited from trade disruptions linked to the ongoing Middle East conflict.
• The WTO lowered its 2026 forecast for commercial services trade growth to 3.3% from an earlier estimate of 4.8%, mainly because the Middle East conflict has affected tourism and travel while increasing fuel costs.
• The organisation expects global goods and services trade combined to expand by around 3.7% this year and 4.7% in 2027, although it warned that the outlook depends partly on a timely resolution of the Middle East conflict.

AI Generated Summary

The World Trade Organisation has significantly upgraded its forecast for global merchandise trade in 2026, saying Pakistan is among the countries that have benefited from trade disruptions linked to the ongoing Middle East conflict.

In its latest Global Trade Outlook Update, the WTO projected global merchandise trade volume to grow by 3.9% in 2026 and 4.1% in 2027. The estimates are considerably higher than its earlier forecasts of 1.9% and 2.6%.