Biz leaders see trade recovering from Covid faster than 2008 crisis: Study

Firms reallocating a third of their revenue from the first half of 2020 to re-modelling their supply chains

A study commissioned by global logistics operator DP World has found that 70 per cent of businesses predict trade will recover to pre-pandemic levels more quickly than recovery after the financial crisis of 2008, which took two years and two months.

Nearly a third thought the recovery would be twice as fast, with trade returned to pre-pandemic levels within a year.

The study conducted by The Economist Intelligence Unit, said that the data showed that the pandemic has brought lasting change to the way companies do business.

Eighty-three per cent of executives indicated that they are in the process of reconfiguring their supply