WTO Forecasts Trade Plunge in 2020, Rebound For 2021

10 April 2020

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% and 32%, 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% and 24%, with the outcome depending largely on the duration of the outbreak and the effectiveness of policy responses.

Post by : Republic of Turkey Ministry of Trade