International trade is slowing rapidly as the COVID recovery fizzles and globalization stalls, Fitch says
The ratings agency expects international trade to grow by 1.9% this year, down from the 5.5% growth rate seen in 2022, and sees world GDP rising by 2%, down from last year's 2.7%.
Factors for the trade slowdown include tighter monetary policy, declining fiscal support, and the resurgence of the services sector, which contributes less to trade than the goods sector does.
France Dernières Nouvelles, France Actualités
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