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Global trade continues recovery in 2021: WTO

Drop in goods trade less severe than predicted, WTO says | Global Trade Review (GTR)

The decline in global goods trade volumes caused by the Covid-19 pandemic appears to have been less drastic than predicted by the World Trade Organization (WTO) in late 2020, with export growth in Asia during the second half of the year matched by increased demand from other markets. In its most recent goods trade barometer, the WTO says growth in trade volumes remained strong in the fourth quarter of 2020, after a stronger-than-anticipated rebound during Q3. The UN Conference on Trade and Development (UNCTAD) previously reported there were signs of a “frail recovery” in Q3, led by surging exports from China, after a major slump in Q2 caused by virus containment measures put in place across the world.

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