Independent journal on economy and transport policy
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WTO, world trade in the second quarter marked the biggest decline ever
Azevado: there is an important positive aspect: it could have been more marked
June 23, 2020
The WTO recalled that on 20 April, forecasts of global trade trends 2020, given the high degree of uncertainty about the severity and the impact of the pandemic on the economy had been defined scenarios: a relatively optimistic one under which the volume trade will fall by -13% and the other, pessimistic view that the contraction will be -32%. The WTO noted that, at present, if world trade expected to grow by 2.5% per quarter for the remainder of the year of the year to meet the optimistic projection, however, looking at 2021, negative developments, including a second wave pandemic, weaker economic growth than the or widespread use of trade restrictions, could be trade development is lower than expected in the first time. Earlier.
"The decline in trade we are seeing - explained the general manager of the WTO, Roberto Azevido - it is historically relevant, and indeed should be the most never recorded. But - he pointed out - there is a important positive aspect: it could have been more Marked. This is really good news, but we can't be smug. Policy decisions have been key to mitigate the severe blow on production and trade and -- has observed Azev-do - will continue to play a role important in determining the pace of economic recovery. In order for production and trade to recover relevant fiscal, monetary and trade policies in 2021 they will have to keep going in the same direction."
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The WTO recalled that on 20 April, forecasts of global trade trends 2020, given the high degree of uncertainty about the severity and the impact of the pandemic on the economy had been defined scenarios: a relatively optimistic one under which the volume trade will fall by -13% and the other, pessimistic view that the contraction will be -32%. The WTO noted that, at present, if world trade expected to grow by 2.5% per quarter for the remainder of the year of the year to meet the optimistic projection, however, looking at 2021, negative developments, including a second wave pandemic, weaker economic growth than the or widespread use of trade restrictions, could be trade development is lower than expected in the first time. Earlier.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
