WTO Projects Little Growth In World Trade For 2001

ByJohn S. McClenahen A sharper-than-expected slowdown in global economic growth likely will translate into a 2% -- or possibly smaller -- increase in worldwide growth in trade volume this year, says the Geneva-based World Trade Organization. Previously, about 7% growth had been expected. Last year, global trade expanded by 12%, roughly six times the rate now projected for 2001. In value terms, global exports reached US$6.2 trillion in 2000, equivalent to two-thirds of U.S. GDP. In 2000, the U.S., not surprisingly, was the world's No. 1 exporter ($781.1 billion) and No. 1 importer ($1.26 trillion). Germany was No. 2 in both categories and Japan was No. 3.