Increased Trade: A Key to Improving Productivity

Gary Hufbauer and Zhiyao Lu ()
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Zhiyao Lu: Peterson Institute for International Economics

No PB16-15, Policy Briefs from Peterson Institute for International Economics

Abstract: Global trade growth slowed abruptly after 2010, following decades of expansion. According to the World Trade Organization (WTO), 2015 marked the fourth consecutive year in which annual world merchandise trade growth stayed below 3 percent. The WTO forecasts growth in global trade volume to remain sluggish in 2016, at 2.8 percent. A variety of reasons have been cited for the decelerating growth of trade: sluggish world economy, shorter supply chains, absence of new liberalization on a global scale, and rise of microprotectionism.

Date: 2016-10
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