WTO said that world trade is expected fall by between -13% and -32% in 2020 as coronavirus pandemic disrupts normal economic activity and life. While the ere “wide range of possibilities”, the decline will “likely exceed” the trade slump on the 2008-09 global financial crisis.
Nearly all regions will suffer double-digit declines in trade volumes in 2020, with exports from North America and Asia hit hardest. Under the optimistic scenario, the recovery will be strong enough to bring trade close to its pre-pandemic trend. The pessimistic scenario only envisages a partial recovery.
