Global trade is slowly picking up after the historic contraction in the second quarter, when World Trade was hit hard by the COVID crisis. It was announced by the World Trade Organisation (WTO).
According to the WTO, international trade in goods is showing cautious signs of recovery after the historic contraction, expected to reach 18.5 percent in the second quarter of this year. However, trade is still well below pre-crisis levels and the recovery is extremely fragile, according to the WTO.
The organisation believes that a 13 percent reduction in World Trade in goods will be seen across 2020. For next year, the WTO is again counting on some recovery in global trade.