Source: World Trade Organization – WTO (video statements)
World trade shows signs of bouncing back from a deep, COVID-19 induced slump, but World Trade Organization economists caution that any recovery could be disrupted by the ongoing pandemic effects.
The WTO now forecasts a 9.2% decline in the volume of world merchandise trade for 2020, followed by a 7.2% rise in 2021, said Xiaozhun Yi, WTO Deputy Director-General. These estimates are subject to an unusually high degree of uncertainty since they depend on the evolution of the pandemic and government responses to it.
Estimates and additional figures were announced at a press conference in Geneva and online on 6 October 2020.
Full details: https://www.wto.org/english/news_e/pres20_e/pr862_e.htm