OECD PREDICTS STRONGER WORLD MERCHANDISE TRADE

OECD PREDICTS STRONGER WORLD MERCHANDISE TRADE    Growth in the volume of world merchandise exports and imports will accelerate in 2003 and 2004, according to a report published by the Organization for Economic Cooperation and Development.
   The Paris-based economic think-tank predicts that world merchandise trade volume will expand by 7.7 percent in 2003 and 8.8 percent in 2004. This compares with an estimated growth rate of 2.6 percent in 2002.
   Commenting on the United States, the OECD’s “Economic Outlook” half-yearly report predicts that exports of goods and services will grow by 7 percent in 2003 and 8.2 percent in 2004. This follows two years of declining U.S. exports of goods and services. Imports of goods and services to the U.S. are expected to increase by 6.5 percent in 2003 and 8.1 percent in 2004, a marked increase from the 3.4 percent import growth rate in 2002.