WTO: Global Trade Was Hit by COVID-19

A recent report by the World Trade Organization (WTO) showed that global trade was negatively impacted by the restrictions imposed against the coronavirus disease (COVID-19).

The WTO previously estimated an 18% drop in trade around the world during the second quarter (Q2) of 2020.

“Although the full impact of the pandemic is not yet reflected fully in trade statistics, it is expected to be very substantial”

WTO Director-General, Roberto Azevedo, said, as Quoted by Reuters.