WTO forecasts trade plunge in 2020, rebound for 2021
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SATURDAY, FEBRUARY 04, 2023
WTO forecasts trade plunge in 2020, rebound for 2021

Global Economy

Reuters
08 April, 2020, 07:10 pm
Last modified: 08 April, 2020, 07:14 pm

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WTO forecasts trade plunge in 2020, rebound for 2021

The Geneva-based body said that for 2021 it was forecasting a rebound of between 21 percent and 24 percent

Reuters
08 April, 2020, 07:10 pm
Last modified: 08 April, 2020, 07:14 pm
The World Trade Organization (WTO) headquarters are pictured in Geneva, Switzerland, July 26, 2018/ Reuters
The World Trade Organization (WTO) headquarters are pictured in Geneva, Switzerland, July 26, 2018/ Reuters

The World Trade Organization forecast on Wednesday a plunge of global trade in goods this year due to the COVID-19 pandemic before a likely rebound in 2021.

The WTO gave a wide range for the decline this year, of between 13 percent and 32 percent, saying there remained uncertainty about the economic impact of the unprecedented health crisis.

The Geneva-based body said that for 2021 it was forecasting a rebound of between 21 percent and 24 percent, with the outcome depending largely on the duration of the outbreak and the effectiveness of policy responses.

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World Trade Organization (WTO)

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