World Trade Dropped by Nearly 20% in Second Quarter, WTO Says

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  • World trade fell by 18.5% in the second quarter of the year as the coronavirus pandemic hit the global economy, the World Trade Organization stated on Monday
  • In April, the WTO had warned that a 32% drop was the worst-case scenerio for global trade in the quarter.
  • However, the WTO Director-General Roberto Azevêdo said the policy decisions taken by various governments in response to the pandemic was vital in limiting the drop in world trade
  • The DG noted that these decisions must be sustained in the right direction for world trade to rebound
  • Azevêdo said the fall in trade is the steepest in history