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Discover the Asia-Pacific Trade and Investment Report 2023-2024's insights on digital trade, emphasizing inclusivity and the need to bridge the digital gap for sustainable development. Explore key challenges, policy measures, and the imperative role of collaboration outlined in this UNCTAD report.
The global economy stands at a pivotal moment, marked by a stark contrast between thriving and struggling economies, according to the United Nations Conference on Trade and Development (UNCTAD). In Trade and Development Report 2023, UNCTAD forecasts a slowdown in world economic growth from three percent in the previous year to 2.4 percent in 2023, with limited signs of recovery in 2024.
The world economy is expected to see moderate growth in 2023, projected at 3.0%, but is anticipated to slow down slightly to 2.7% in 2024. This economic growth is largely driven by Asia, despite a weaker recovery in China than expected. However, global growth in 2024 is likely to be lower, primarily due to monetary policy becoming more visible and China's subdued domestic demand, said OECD in its latest report.
Major highlights of the Department of Commerce during 2021 are as follows: Export Target of US$ 400 billion for Merchandise in 2021-22 Target...
The high cost of trade in Asia and the Pacific continues to rise but ongoing efforts to facilitate commerce will help keep goods flowing...
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