Monthly Briefing on the World Economic Situation and Prospects, No. 68

Despite expectations for a return to previous growth rates this year,?world trade has grown relatively slowly for the first months of 2014.?Prior to the crisis, world trade grew at about double the growth?rate of world gross product (WGP), but in the past two years trade?growth has slowed to just barely matching the growth of WGP.?The hope was that a rise in economic activity in developed countries, which still account for a major portion of world trade and are?important trading partners for many developing countries, would?provide the necessary impetus to boost world trade. However, as?several developed economies, and the United States of America in?particular, had a disappointing first quarter, there has been limited?expansion in world trade.