Global trade growth projected to slow
World Bank, in its latest Global Outlook (published on June 10), revised the global growth prospects down. World economy is expected to grow 2.3% this year and 2.4% in 2026. Euro area should expand at slower pace of 0.7% in 2025 and 0.8% next year, according to the World Banks projection. The forecasts for individual countries from the CEE region are not covered in this edition (apart from Poland expected to grow close to 3% in coming years), we thus turn our attention to global trade prospects. Global trade growth in goods and services is projected to slow sharply in 2025, to 1.8%, from 3.4% expected in 2024. The downward revision (in magnitude of 1.3 percentage point) reflects changes in trade policies in key economies and higher trade policy uncertainty. All in all, the dynamics of global trade growth is expected to remain well below its pre-pandemic average of 4.3% between 2010 and 2019.