OREANDA-NEWS  The World Trade Organization (WTO) has sharply and more than doubled its forecast for the growth of global trade in goods in 2026. This was reported by The Globe and Mail.

The WTO expects the corresponding figure to reach 3.9 percent, as the rapid growth of investments in artificial intelligence offsets losses from the war in the Middle East. The revised forecast significantly exceeds the initial estimates made this spring, which assumed a 1.9 percent increase in commodity trade.

In addition, the WTO said it expects global GDP to grow by 2.6 percent this year and 2.9 percent in 2027.

In September, this organization predicted that if the existing rules of global trade are not reformed, the global market will fragment, which will hit the poorest countries the hardest. According to WTO analysts, the current order is barely keeping pace with changes in economic power, the growth of industrial policy, the development of digital trade and the escalation of political tensions between major powers. And it is becoming increasingly difficult for WTO members to agree on reforms.