The coronavirus crisis is set to cut the volume of global trade by seven to nine percent in 2020 compared to the previous year, a United Nations trade body has said, warning of still uncertain recovery prospects.
The third quarter brought some relief for international trade, the UN Conference on Trade and Development (UNCTAD) said in its latest report released on Wednesday. The textiles sector, as well as sales of home office equipment and medical supplies, enjoyed the strongest growth over the period, while the automotive and energy sectors were still plunging, according to the UNCTAD’s data.
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