WTO predicts global trade to plunge by up to a third in 2020

WTO predicts global trade to plunge by up to a third in 2020

Home World Africa WTO predicts global trade to plunge by up to a third in.... Global trade, already hit by trade tensions and uncertainties around Brexit, is expected to register "double-digit declines in trade volumes" in nearly all regions this year, the WTO said.. Before the current crisis, trade tensions, uncertainty and slowing economic growth weighed on global merchandise trade, which registered a slight decline of 0.1 per cent in 2019 after rising 2.9 per cent a year earlier.. World commercial services trade fared better last year, with exports in dollar terms rising by 2 per cent to $6.03 trillion, but the expansion was far slower than in 2018, when services trade increased by nine per cent, said the WTO.. The WTO said that while the global shock might invite comparisons to the financial crisis of 2008-09, the situation now was worse..