The global trade will fall by 18.5 per cent in the second quarter WTO. Global trade is expected to decline by 18.5 per cent in the second quarter of 2020. The World Trade Organization (WTO) released the estimate, saying the corona could have made things worse.
“The initial estimate for the second quarter shows that the corona virus. And its associated lockdown have affected large parts of the global population. WTO said in a statement. This indicates that global trade will decline about 18.5 per cent on a year-on-year basis,” the WTO said, adding that world goods trade had fallen about 3 per cent in the first quarter.
The global trade will fall by 18.5 per cent in the second quarter WTO
The decline we are seeing now in trade is historically very high, wto said. In fact this will be the biggest recorded decline so far. But one good thing is that things could have been worse than that,” he said.
Corona is somewhat better in the condition than what the WTO had earlier released an estimate of the decline in global trade. In an estimate released on April 20 this year. The gobal trade could decline 13 to 32 per cent in 2020.
The WTO said that given the situation now. if global trade grows by 2.5 per cent in the next quarters, it will a relief.
Earlier, there was a serious warning of recession.
It may recall that the WTO had earlier said that the corona virus. Epidemic could cause the world to hit a severe global recession. The WTO had said that global trade expected to decline by up to a third in 2020. Due to the Corona virus epidemic.
“World trade expected to decline from 13 per cent to 32 per cent in 2020,” the WTO said in a statement. This is due to the corona virus epidemic affecting normal economic activities and life badly.”