P.M. BRIEFING : World Trade Growth Slows Down

International trade volume could slow slightly this year, with inflation and rising interest rates in industrialized nations hampering trade expansion, the world’s main trade forum reported today.

Experts at the General Agreement on Tariffs and Trade also reported that the value of international merchandise trade topped $3 trillion for the first time in 1989 as the United States regained its position from West Germany as the world’s top exporter.

GATT experts predicted the volume of goods traded internationally would grow by 5% to 6% in 1990, the eighth straight year of expansion.

The value of goods traded on world markets last year rose by 7.5% from 1988, to $3.1 trillion, the report stated.

The report warned of continuing problems faced by heavily indebted countries. It also said persistent inflation and rising interest rates in industrialized countries threatened to dampen business investment, an important factor in trade expansion.