GENEVA: A United Nations report on Wednesday forecast a 7 percent to 9 percent year-on-year drop in the value of global trade in 2020, despite signs of a weak rebound in the third quarter led by a recovery in China.
In the latest quarterly report of the United Nations Conference on Trade and Development (Unctad), the Geneva-based trade body estimates world trade to be about 5 percent less in the third quarter than the same period in 2019, an improvement from the 19 percent year-on-year decline recorded in the second quarter but still insufficient to pull trade out of the red.
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