World trade rebounding slowly, outlook uncertain: UN

World trade rebounding slowly, outlook uncertain: UN

The value of global trade is set to fall by 7 per cent to 9 per cent in 2020 from the previous year, despite signs of a fragile rebound led by China in the third quarter, a United Nations report said on Wednesday.No region was spared by an estimated 19 per cent year-on-year plunge in world trade in the second quarter, as the Covid-19 pandemic disrupted economies, the UN Conference on Trade and Development (UNCTAD) said.Global trade recovered somewhat in the third quarter, when it was estimated at about 4.5 per cent less than in the same period a year ago, the agency said in its latest update."Trade in home office equipment and medical supplies has increased in