The current disruption in the tourism industry is likely, due to the coronavirus pandemic, slow the recovery of world trade in the first quarter of 2021, has shown the United Nations Conference on Trade and Development (UNCTAD) in its latest report published on Wednesday.
Key takeaways (via Reuters):
“After what blockades caused trade to contract by 15% in the first half of 2020, rebounded in the second half, with world trade in goods increasing about 8% in the fourth quarter compared to the third. “
“East Asian economies have been leading the recovery process with strong export growth and gains in world market share. “
“Most of the manufacturing sectors recovered in the fourth quarter, aside from energy and transportation.”
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