Global trade to shrink 18.5% in Q2, says WTO

GLOBAL trade is expected to drop around 18.5% year-on-year in the second quarter of 2020 in a huge coronavirus-driven plunge that, nonetheless, could have been much worse, the WTO said today.

“Initial estimates for the second quarter, when the virus and associated lockdown measures affected a large share of the global population, indicate a year-on-year drop of around 18.5%,” the World Trade Organisation said in a statement.