A report issued by the World Trade Organization showed that increasing concerns about the global repercussions of the Iranian-Israeli escalation globally began to raise questions about the extent to which this development reflected on global trade and supply chains, which were most affected during the " pandemic, and with the start of the Russian-Ukrainian war.
The OECD predicted a rebound in global trade but warned that disputes, geopolitical tensions, and economic policy uncertainty pose significant downside risks to the outlook. Global trade volumes unexpectedly fell by 1.2 percent in 2023. This is lower than the 3.3 percent increase the OECD had forecast in October.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
