FT story that matches a previous Economist bit about the slowing of traffic through the Suez (HT Dan Hare on latter).
As I've noted here before, the more than 10% drop in 2009 was basically recovered in 2010. For now, the trade growth still forecast through the rest of 2011 is more than twice as high as the 2008 total, but we are headed in the wrong direction.
In releasing these figures, the WTO hinted that the fiscal crisis in Europe is much to blame (uncertainty depresses production depresses trade).
The danger now - again - is that trade protectionism begins to creep back in, especially of the monetary sort, as the BRICS are getting hot under the collar over the hot money pressuring their systems - Brazil especially.