According to the latest report published by the United Nations Conference on Trade and Development (UNCTAD), global trade recovered in the third quarter, but the outlook remains uncertain amid the economic disruptions caused by the COVID-19 pandemic.
Highlights
- “The value of world trade is expected to decline between 7% and 9% in 2020 from the previous year, despite signs of a fragile rally led by China in the third quarter.”
- “World trade recovered a bit in the third quarter, when it was estimated about 4.5% less than in the same period a year ago.”
- “The trade in home office equipment and medical supplies increased in the third quarter, while weakened even more in the sectors of automotive and the Energy“.
- “The preliminary forecast puts year-on-year growth for the fourth quarter of 2020 at 3% less.”
- “In general, the level of Chinese exports for the first nine months of 2020 was comparable to that of 2019 in the same period.
Credits: Forex Street
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