Trade to fall by up to nine percent by 2020, says UN

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Geneva, Oct 21 (Prensa Latina) Global trade will fall between seven and nine percent in 2020 compared to the previous year, predicted the United Nations Conference on Trade and Development (Unctad) today.

According to the entity, trade activity decreased in the second quarter by 19 percent due to the spread of the SARS-CoV-2 coronavirus, which causes Covid-19, and restrictive measures in many countries.

Then, in the third quarter, there was some recovery, as the decrease from 2019 was 4.5 percent, according to the Unctad, an organization based in Geneva, Switzerland, on Wednesday.

The UN agency said that sales of medical supplies and office equipment for working from home grew in July, August and September, while the automotive and energy sectors weakened.

Unctad is projecting a growth in business operations in the last quarter, although uncertainty about the evolution of the pandemic remains.

On the other hand, the World Trade Organization (WTO) predicted at the beginning of the month a 9.2 percent drop in the purchase and sale of goods by 2020.

(Taken from PL)

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