WTO: trade in goods in the third quarter is still lower than before the epidemic

Global trade in goods rebounded in the third quarter, up 11.6% month on month, but still fell 5.6% compared with the same period last year, as North America, Europe and other regions relaxed “blockade” measures and major economies adopted fiscal and monetary policies to support the economy, according to data released by the world trade organization on the 18th.

From the perspective of export performance, the recovery momentum is strong in regions with high degree of industrialization, while the recovery pace of regions with natural resources as the main export products is relatively slow. In the third quarter of this year, the volume of exports of goods from North America, Europe and Asia increased significantly on a month on month basis, with double-digit growth. From the perspective of import data, the import volume of North America and Europe increased significantly compared with the second quarter, but the import volume of all regions in the world decreased compared with the same period last year.

Data show that in the first three quarters of this year, Global trade in goods fell by 8.2% year-on-year. WTO said that the novel coronavirus pneumonia rebound in some areas may affect the trade of goods in the fourth quarter, and further affect the whole year’s performance.

In October, the World Trade Organization (WTO) predicted that the volume of Global trade in goods would shrink by 9.2% this year and increase by 7.2% next year, but the scale of trade would be far lower than the level before the epidemic.

Post time: Dec-22-2020