- Analytics
- News and Tools
- Market News
- Global trade seen cut by more than a quarter in second quarter - U.N. agency
Global trade seen cut by more than a quarter in second quarter - U.N. agency
Reuters reports that world trade in goods is set to slump at a rate not seen since the global financial crisis in 2009, with estimates becoming increasingly gloomy over the past weeks, the United Nations Conference on Trade and Development (UNCTAD) said on Wednesday.
Merchandise trade is seen down 3.0% in the first quarter from the final three months of 2019 and by a further 26.9% in the second quarter, UNCTAD said. Year-on-year, these figures would be falls of 3.3% and 29.0% respectively.
"There were falls of a similar magnitude in 2009 during the global financial crisis, although the decline was not as steep as in 2020. At that time, global trade rebounded just as quickly, in line with global economic recovery," said UNCTAD's chief of statistics Steve MacFeely.
"At this moment, the shape of the recovery is still not clear, it will depend on how fast the economies return to positive growth and their demand for traded goods increases once again," he continued.
UNCTAD said its view of the first quarter had steadily worsened since March 24, when it predicted modest growth of trade in value terms of about 1%.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
