January 17, 2021

The WTO predicts that global trade will fall between 13% and 32% this year due to the coronavirus

The disruption in economic activity caused by the COVID-19 pandemic will cause a drop in world trade this year of between 13% and 32%, according to a report by the World Trade Organization (WTO) released on Wednesday.

The study contemplates two possible scenarios, which in the most optimistic case would mean a decrease of 13% followed by a recovery in trade of 21.3% in 2021, while in a more pessimistic context a fall of 32% would be followed by a recovery 24% (but that would start from lower figures than in the other hypothesis).

“The figures are ugly, there is no denying it,” acknowledged the director general of the WTO, Roberto Azevedo, when presenting the figures, who stressed that “with everything, a rapid and vigorous recovery is possible.”


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