WTO expecting modest growth

The World Trade Organization (WTO) economists expected the world trade to grow by a modest 4.7 per cent in 2014 and at a slightly faster rate of 5.3 per cent in 2015.

Although the 2014 forecast is more than double the 2.1 per cent increase of last year, it remains below the 20-year average of 5.3 per cent.

The sluggish pace of trade growth in 2013 was due to a combination of flat import.