The WTO expects world trade to grow by more than 3 percent in 2022. The figure has yet to be finalized and will be published in April. “World trade has held up well,” said WTO chief economist Ralph Ossa.
Prices for goods impacted by the war also rose less than expected. Because Russia hindered Ukrainian exports and was itself experiencing problems due to Western sanctions, it was feared that prices in poor countries could become up to 85 percent more expensive. Today it appears that there was an increase of 17 percent.
According to the WTO, countries managed to find other sources for products they previously imported from Russia or Ukraine.
