Food import bills to hit $1.98-trillion record - WTO
This is a 1.5% increase over 2022 levels
21 July 2023
1 minute read
By: The FAO's "Food Outlook" finds that food import bills are set to hit a record USD 1.98 trillion in 2023, according to a recent news release from the World Trade Organisation.
The new 2023 record represents a 1.5% increase over 2022 levels – although this is smaller than the 11% rise in 2022, and the 18% increase the previous year.
A WTO working group on food security challenges in Least-Developed Countries and Net Food-Importing Developing Countries is set to review a draft report prepared by the group coordinator at its meeting on 19 July – with financing of food imports among the topics that have been addressed by the group's work.
