Rich nations to push Third World export

 THE strengthening of economy in high-income countries will boost demand for developing country exports, World Bank’s newly-released Global Economic Prospects (GEP) reports.

However, the report said while that happens, rising interest rates will reduce capital flows. 

The report projects global trade to grow from an estimated 3.1% in 2013 to 4.6% this year and 5.1% in each of 2015 and 2016. 

However, its states weaker commodity prices will continue to temper trade revenues. 

Between their early-2011 peaks and recent lows in November 2013, the real prices of energy and food have declined by 9 and 13%, respectively, the bank said