UN experts predict slowdown in the recovery of world trade

The recovery in global trade will slow in the first quarter of 2021.

UN experts predict slowdown in the recovery of world trade

This is stated in a UN report published on Wednesday, February 10.

After restrictions led to a 15% contraction in trade in the first half of 2020, it rebounded in the second. This was mainly due to developing countries, especially in East Asia, where merchandise trade grew 12% in the fourth quarter compared to the same period last year.

“East Asian economies are spearheading the recovery with strong export growth and increased global market share”, – the UN Conference on Trade and Development said in a report.

Also, growth in most manufacturing sectors recovered in the fourth quarter of 2020, with the exception of energy and transport.

In the first quarter of 2021, the UN predicts a decrease in trade in goods by 1.5% compared to the previous quarter and a fall in trade in services by 7%.

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