The growth of the world gross domestic product (GDP) in 2022, according to experts of the World Trade Organization (WTO), will be 2.8 per cent. Before the special operation in Ukraine, it was estimated at 4.1 percent. The corresponding forecast is contained in the report of the organization.

WTO analysts believe that in 2023 the growth of global GDP will accelerate to 3.2%, which roughly corresponds to the average level of the previous decade.

The decline in GDP growth was affected by the direct consequences of the conflict in Ukraine and massive anti-Russian sanctions. Due to growing uncertainty in international relations and falling business confidence around the world, aggregate demand is decreasing.

In USA countries, according to WTO estimates, GDP will fall by 7.9% cumulatively in 2022. Imports in the region will decline by 12%, but exports will grow by 4.9% due to strong energy demand from Russia.

Trade in goods will grow by 3%. Before the conflict in Ukraine it was estimated at 4.7%. WTO experts are not convinced.