Global Trade Will Plunge By Up To A Third In 2020 Amid Pandemic – WTO

An employee shows US dollar banknotes at a foreign currency brokerage office in Khartoum on October 7, 2018. Sudan slashed the official value of its currency against the US dollar by more than half on October 7, the third devaluation this year in the face of a mounting economic crisis.
ASHRAF SHAZLY / AFP

Global trade growth is expected to plummet by up to a third in 2020 due to the new coronavirus pandemic, the World Trade Organization said Wednesday, adding the numbers would be “ugly”.

“World trade is expected to fall by between 13 percent and 32 percent in 2020 as the COVID-19 pandemic disrupts normal economic activity and life around the world,” the WTO said in a statement.

AFP

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