The UN has estimated the scale of the decline in world trade in 2020

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The UN has estimated the scale of the decline in world trade in 2020

23.10.2020 News

Global trade turnover in 2020 will decrease by 7-9%. This was announced on Wednesday, October 21, by the RBC-Ukraine news agency with reference to the report of the UN Conference on Trade and Development UNCTAD.

The decline in trade has occurred in all regions of the world due to quarantine restrictions, the report said. They recall that for this reason, in the second quarter of 2020, world trade lost 19% year on year.

After that, it recovered somewhat in the third quarter, when the decline compared to the same period in 2019 was 4.5%.

“Trade in home office equipment and medical supplies increased in the third quarter. Growth in the textile sector has also been strong. At the same time, it has weakened even more in the automotive and energy sectors, “the UNCTAD report said.

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