WTO revises forecast for global trade and points to 9.2% drop in 2020

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THE World Trade Organization (WTO) it raised its forecast for trade in goods this year to a level still comparable to the decline seen during the global financial crisis, but better than initially forecast due to a recovery in June and July.

The WTO said global trade in goods will fall 9.2% this year and then jump 7.2% in 2021.

The WTO forecast for April was that the trade in goods would decline between 13% and 32% this year, figures described by the head of the institution as “ugly”, before recovering between 21% and 24% in 2021 if countries worked together.

The Geneva-based trade body said its estimates are subject to a high degree of uncertainty related to the evolution of the pandemic and government responses to it, and noted that the recovery next year will leave trade well below its pre-pandemic trend. .

Source: Exame

THE World Trade Organization (WTO) it raised its forecast for trade in goods this year to a level still comparable to the decline seen during the global financial crisis, but better than initially forecast due to a recovery in June and July.

The WTO said global trade in goods will fall 9.2% this year and then jump 7.2% in 2021.

The WTO forecast for April was that the trade in goods would decline between 13% and 32% this year, figures described by the head of the institution as “ugly”, before recovering between 21% and 24% in 2021 if countries worked together.

The Geneva-based trade body said its estimates are subject to a high degree of uncertainty related to the evolution of the pandemic and government responses to it, and noted that the recovery next year will leave trade well below its pre-pandemic trend. .

Source: Exame

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