World trade growth is likely to be slower than previously thought in 2018 and 2019, although the direct economic effects of a trade war that has blown up this year have been modest so far, the World Trade Organization said on Thursday.

The WTO forecast world trade in goods would grow by 3.9 percent this year, less than the 4.4 percent it forecast in April. Next year trade growth of 3.7 percent is expected, a cut from the WTO's previous forecast of 4.0 percent, Reuters said.

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As UNIAN reported earlier, the balance of Ukraine's foreign trade in goods and services in January-July 2018 was reduced to a deficit of US$5.503 billion, which is 33% more than the deficit for the same period last year at $4.139 billion, according to the National Bank of Ukraine (NBU).

The deficit of foreign trade in goods for the period increased by 34.3% to $6.004 billion, while the surplus of foreign trade in services grew 1.5 times to $501 million, the NBU said.