The World Trade Organization said on Tuesday that global merchandise trade would likely fall by less than its worst case scenario this year due to the COVID-19 pandemic, but an expected pick-up in 2021 year could fall short of expectations, Trend reports with reference to Reuters.
The Geneva-based body in April forecast that global trade in goods would fall by between 13% and 32% in 2020 before rebounding by between 21% and 24% in 2021.