Global Trade sets off on an uneven recovery after the pandemic: WTO

Geneva, 31st March: WTO states that global trade sets on for a stiff but uneven recovery after decreasing lesser than expectations due to Covid-19 pandemic in 2020.

The World Trade Organization issued a statement this Wednesday saying ,”According to new estimates from the WTO, the volume of world merchandise trade is expected to increase by 8.0 percent in 2021 after having fallen 5.3 percent in 2020.”

The global trade association warned a year earlier that trade across the world would plunge down by one third in 2020 owing to COVID-19. A revision estimated an expected 9.2 percent drop in global trade matters.

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