The Latest World Trade Organization Report: Global Trade in Goods Continues To Pick Up(2)

The latest issue of the "Barometer of Trade in Goods" is basically consistent with the global trade forecast released by the WTO on March 31.

In the second quarter of 2020, when the blockade and restrictive measures were fully implemented, the volume of trade in goods fell by 15.5% year-on-year, but by the fourth quarter, trade in goods had exceeded the level of the same period in 2019. Although the quarterly trade volume statistics for the first and second quarters of 2021 have not yet been released, the year-on-year growth is expected to be very strong, partly due to the recent overall strengthening of global trade and the excessive decline in global trade last year due to the impact of the epidemic. starting point.

What needs to be pointed out is that factors such as regional differences, continued weakness in trade in services, and the lagging time for vaccination in low-income countries have harmed the relatively positive short-term global trade prospects. The new crown pneumonia epidemic is continuing to pose a threat to the prospects of global trade, and a new wave of epidemics that may emerge may disrupt the recovery process of global trade.