The International Monetary Fund (IMF) recently published the January 2025 update to their World Economic Outlook (WEO) report, which was published in October 2024. In this update, key revisions were made to global trade growth, especially for advanced economies. Figure 1 shows the growth figures for 2020-2024, the projections for 2025-2026, and the revisions made to the latter two years relative to the October 2024 report. IMF projected that world trade growth in 2025 would be 3.2%, increasing to 3.3% in 2026. However, both projections were revised downwards in the latest update. For 2025, trade in the advanced economies is projected to grow by 2.1%, having been revised down by -0.5 percentage points, while the 2026 projection of 2.5% was marked down by -0.3 percentage points. (....)