Global trade shows signs of rebound from Covid-19, recovery uncertain: WTO

Trade growth in Covid-19 related products was strong in June and July, showing the global economy's ability to help governments obtain supplies

The World Trade Organisation now forecasts a 9.2 per decline in international merchandise trade for 2020, followed by a 7.2 per cent rise next year. These estimates are subject to an unusually high degree of uncertainty since they depend on the evolution of the pandemic and government responses to it.

The forecast is less severe than the 12.9 per cent drop outlined in the WTO's April trade forecast. Strong trade performance in June and July have brought some signs of optimism for overall trade growth in 2020, WTO said .

Trade growth in Covid-19 related products was strong in June