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WTO sees 9 percent drop in world trade this year

Published 03/23/2009, 01:34 PM
Updated 03/23/2009, 01:56 PM

GENEVA, March 23 (Reuters) - Trade volumes will fall 9 percent this year, the biggest contraction since World War Two, as demand collapses in the most serious economic downturn in decades, the World Trade Organisation (WTO) said.

World trade tapered off sharply in the last half of 2008 to show growth of 2 percent over the whole year, after rising 6 percent in 2007, it said in a report.

The report was originally scheduled to be released on Wednesday, but several media organisations published it on Monday. (Reporting by Jonathan Lynn; Editing by Andrew Dobbie)

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