Wed 07 October 2020:
Experts warn virus pandemic can still disrupt positive outlook as global body improves 2020 projection
The World Trade Organization (WTO) on Tuesday revised its forecast for decline in global world merchandise trade volume this year from 12.9% to 9.2%.
The positive outlook comes on the back of strong trade performance in June and July, when measures against the coronavirus pandemic were eased, the WTO said in a press release.
Trade of pandemic-related goods was especially strong in this period, the organization said.
“Conversely, the forecast for next year is more pessimistic than the previous estimate of 21.3% growth, leaving merchandise trade well below its pre-pandemic trend in 2021,” read the statement.
Meanwhile, WTO economists warned that the improved outlook could be disrupted by the ongoing effects of the pandemic.
The COVID-19 pandemic, which originated in China last December and has claimed over a million lives worldwide, has caused dramatic falls in several sectors, particularly tourism, travel, and manufacturing.
-Anadolu agency
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