WTO today will 2011 global merchandise trade.

Meanwhile, a trade estimate compiled by Netherlands Bureau for Economic Policy Analysis, a think-tank in Holland, shows that the growth of commodity trade has stagnated this summer, and it probably contracted for the first time since the global financial crisis in.

WTO said the trade slowdown is concentrated in the developed economies, especially in Europe, which seems to be related to the euro zone sovereign debt crisis.

"The downside risk of GDP has obviously strengthened over the past few months, and trade tends to follow output.

The private sector economic activity in the eurozone has contracted for the first time in more than two years this month, pushing the euro zone economy to the brink of recession.

The euro area purchasing managers index (PMI) has seen a more serious deterioration than expected, further indicating that the region's economic recovery has reversed, increasing the pressure on the ECB to cut interest rates.

To add insult to injury, the new industrial orders in the euro area decreased by 2.1% in July, which seems to mean that output will also slow down in the coming months.

The European Union statistics agency (Eurostat) said the decline in June.