unctad.org | World Economic Situation and Prospects 2014
World Economic Situation and Prospects 2014
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Prospects for global macroeconomic development

  • Global growth underperformed in 2013, but is expected to improve in 2014-2015

  • Inflation outlook remains benign

  • High unemployment remains a key challenge

International trade and financing for development

  • Moderate rise in trade growth is anticipated along with flattening commodity prices

  • Multilateral trade negotiations reach limited agreement while regional trade agreements boom

  • Volatility of capital inflows and risk premium to emerging economies have increased

  • Long-term financing is essential for promoting sustainable development

Uncertainties and risks

  • A bumpy exit of quantitative easing measures poses significant risks for the world economy

Policy challenges

  • The globally concerted policy actions should be focused on a stronger recovery

  • International policy cooperation should ensure that sufficient resources are made available to least developed countries

The report is a joint product of the United Nations Department of Economic and Social Affairs (UN/DESA), the United Nations Conference on Trade and Development (UNCTAD) and the five United Nations regional commissions (Economic Commission for Africa (ECA), Economic Commission for Europe (ECE), Economic Commission for Latin America and the Caribbean (ECLAC), Economic and Social Commission for Asia and the Pacific (ESCAP) and Economic and Social Commission for Western Asia (ESCWA).

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