The World Trade Organization has sharply cut its forecast for this year's global trade growth due to the US-China trade dispute and other factors.

The WTO released its updated forecast on Tuesday.

WTO officials expect that world merchandise trade volume will increase by 1.2 percent in 2019.

That is a substantial downgrade from its April estimate of 2.6 percent and much slower than last year's growth of 3 percent.

WTO officials cite escalating US-China trade tensions and uncertainty related to Britain's planned exit from the European Union.

The WTO expects growth of exports will slow down this year in most parts of the world.

It forecasts 1.5 percent for North America, down 2.8 points from last year, 1.8 percent for Asia, down 2 points and 0.6 percent for Europe, down 1 point.

WTO Director-General Roberto Azevedo said trade conflicts heighten uncertainty, which is leading some businesses to delay investments and may also hamper job creation.

He called on WTO members to settle trade issues within the organization's framework.

Source: NHK

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