The WTO announced the growth of world trade

The trade growth that has started is due to the fact that North America, Europe and other regions have eased quarantine restrictions.

World merchandise trade recovered in the third quarter, rising 11.6% quarter-on-quarter but falling 5.6% year-on-year. In the first three quarters, the figure fell 8.2% year-on-year, according to the World Trade Organization (WTO).

The growth in trade that has started is indicated as being due to North America, Europe and other regions easing quarantine restrictions.

“The recovery was also supported by broad fiscal and monetary policy measures in major economies, as well as adaptation in key sectors,” the statement read.

In the third quarter of this year, merchandise exports from North America (+ 20.1%), Europe (+ 19.3%) and Asia (+ 10.1%) grew significantly and reached double-digit growth . According to import data, imports of goods to North America (+ 16.6%) and Europe (+ 15%) increased significantly compared to the second quarter, but imports worldwide decreased compared to the same last year’s period.

In October, the WTO predicted that world merchandise trade would contract 9.2% this year and rise 7.2% the next, but the scale of trade would be well below pre-epidemic levels.

In addition, the UN Secretary General, Antonio Guterres, warned that the world will face the strongest economic recession in 80 years. In his opinion, no COVID vaccine will be able to correct the damage that has already been done.

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