The World Trade Organization (WTO) has warned that COVID-19 is disrupting world trade based on results from its latest ‘Goods Trade Barometer’.
In a press release of May 20, multilateral organization responsible for world trade noted:
“The volume of world merchandise trade is likely to fall precipitously in the first half of 2020 as the COVID-19 pandemic disrupts the global economy, according to the WTO Goods Trade Barometer released on 20 May. The index currently stands at 87.6, far below the baseline value of 100, suggesting a sharp contraction in world trade extending into the second quarter. This is the lowest value on record since the indicator was launched in July 2016.”
Read the full WTO article here.