North America will have the largest slowdown in imports in the world
After growing 12.3% in 2021, North American foreign purchases will reduce their dynamism with increases of 8.5% in 2022 and 0.8% in 2023. The WTO estimates were released Monday as part of its Trade Monitoring Report on Group of 20 ( G20 ) trade measures. This report is framed against a background of slowing international trade, as the world economy faces several interconnected shocks, such as the war in Ukraine , high inflation, the devastation left by various climate change-related events and the effects persistent side effects of the Covid-19 pandemic .
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