Mon Oct 21 17:59:16 UTC 2024: Here are the important points from the article about the WTO’s latest bi-annual trade outlook:

1. **WTO Release Date and Report Title**: The World Trade Organisation (WTO) published its report titled “Global Trade Outlook and Statistics: October 2024” on October 10, 2024.

2. **Revised Trade Growth Projections**: The WTO has lowered its world merchandise trade growth forecast for 2025 from 3.3% to 3%.

3. **Global GDP Growth**: The global GDP growth at market exchange rates is projected to remain steady at 2.7% for both 2024 and 2025.

4. **Merchandise Trade Growth in 2024**: Global merchandise trade grew by 2.3% year-on-year in the first half of 2024, rebounding from a decline of 1.1% in 2023, which was impacted by high inflation and rising interest rates.

5. **Exports from Least-Developed Countries (LDCs)**: Merchandise exports from LDCs are expected to grow by 1.8% in 2024, down from 4.6% in 2023.

6. **Regional Export Projections**:
– **Asia**: Projected to have the highest growth in export volumes at 7.4% in 2024.
– **Europe**: Expected to see a decline in export volumes by 1.4%, with imports declining by 2.3%.

7. **About the WTO**: The WTO is headquartered in Geneva, Switzerland, established in 1995, and currently led by Director-General Ngozi Okonjo-Iweala.

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