World trade volume expected to decrease by 9.2% from last year Impact of new corona WTO October 7, 4:33
The WTO = World Trade Organization has announced that the impact of the new coronavirus will reduce global trade volume by 9.2% compared to last year.
The WTO unveiled new forecasts for world trade on the 6th.
According to it, the trade volume of this year's goods is 9.2% lower than last year.
Looking at exports, the rate of decline by region is
▽ North America 14.7%,
▽ Europe 11.7%,
▽ Asia 4.5%, etc., and the impact on the Asian region is expected to be relatively small. ..
Since this forecast reflects the resumption of economic activity, the spread of infection has become serious around the world, and it will be revised upward compared to April.
However, the WTO points out that if the infection spreads again and restrictions on economic activities become stricter in the future, the decline may become even greater.
In addition, the world trade volume will increase by only 7.2% next year, and it is expected that it will not return to the level before the spread of the infection.
At a press conference, Deputy Secretary-General Yi Xiao said, "There remains considerable uncertainty about how much trade will recover. One of the biggest risks in the post-pandemic world economy is protectionism. International cooperation is indispensable. "