By  on April 10, 2013

GENEVA — Heavily influenced by the slump in demand in the European Union, global trade volume is forecast to grow 3.3 percent this year, representing a marked cut from an earlier projection made in September of a 4.5 percent increase, the World Trade Organization said Wednesday.

Exports of industrialized countries are estimated to increase 1.4 percent, while those of developing countries are forecast to expand 5.3 percent. On the import side, the WTO projects 1.4 percent growth in the volume of shipments destined for rich nations and a 5.9 percent expansion for developing economies.

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