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 World Trade Organization said that global commodity trade recorded a record low in the first months of the year due to the Corona pandemic DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

World Trade Organization said that global commodity trade recorded a record low in the first months of the year due to the Corona pandemic

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 World Trade Organization said that global commodity trade recorded a record low in the first months of the year due to the Corona pandemic Empty World Trade Organization said that global commodity trade recorded a record low in the first months of the year due to the Corona pandemic

Post by Ponee on Wed Jun 24, 2020 9:25 pm

The World Trade Organization said that global commodity trade recorded a record low in the first months of the year due to the Corona pandemic, but it did not decline to worse expectations.

Last April, the Geneva-based organization expected global trade in goods to decline between 13 and 32 percent this year, figures that the organization’s director-general described as “bad”, recovering between 21 and 24 percent in 2021.


The organization did not specify new figures on Tuesday, but said that the rapid response of governments means that pessimistic expectations for this year are excluded.


The organization said that the volume of commodity trade actually shrank three percent in the first quarter, and preliminary estimates indicate a decline of 18.5 percent in the second quarter on an annual basis.


“The declining trade that we are seeing is historically huge, in fact it would be the steepest since records began,” said the organization’s director general, Roberto Azevedo, “but there is a positive side here: that the situation would have been much worse.” 


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