Global trade will plunge by up to a third in 2020: WTO

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Global trade will plunge by up to a third in 2020: WTO

Apr 08, 2020 21:45 IST

Global trade growth is expected to plummet by up to a third in 2020 due to the coronavirus pandemic, the World Trade Organization said Wednesday. Warning that the numbers would be "ugly", the apex trade body said world trade is expected to fall by between 13 per cent and 32 per cent in 2020. There were a wide range of possibilities for how trade would be hit by the 'unprecedented' health crisis. However, WTO chief Roberto Azevedo warned the downturn 'may well be the deepest economic recession or downturn of our lifetimes'.

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