Global trade likely to fall by 13-32% in 2020 amid Covid-19 outbreak: WTO

Drop in world commerce might be biggest since the Great Depression

Global trade is expected to fall by 13-32 per cent in 2020 as the coronavirus disease (Covid-19) pandemic disrupts economic activity and life around the world, the World Trade Organization (WTO) said on Wednesday.
 

The current slump will prove to be biggest of a generation, bigger than the global financial crisis of 2008-09, WTO said in its Annual Trade Statistics and Outlook Report. The report also pointed out that in 2019, 1.7 per cent of world exports originated from India, while 2.5 per cent of imports reached the country.
 

The report also warned that estimates of the expected recovery in